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Page 1
                                  Adapting
                       to Change Pathways
                      to Sustainable Mining
                                  Beradaptasi dengan Perubahan
                             Menuju Pertambangan Berkelanjutan




2024
Laporan Tahunan
Annual Report

PT Golden Energy Mines Tbk
Page 2
DAFTAR ISI
Table of Contents

                                                                                                Keterbukaan Transaksi Material Selama 2024      124
Kilas Kinerja                                 Analisis dan Pembahasan                           Disclosure of Material Transactions
Performance Overview                          Manajemen                                         Throughout 2024
                                              Management Discussion and                         Keterbukaan Transaksi Afiliasi dan Benturan     124
Pencapaian Tahun 2024                    1    Analysis                                          Kepentingan Selama 2024
Achievements in 2024                                                                            Disclosure of Affiliated Transactions and
Ikhtisar Keuangan                        2                                                      Conflict of Interest Throughout 2024
                                              Tinjauan Operasional                      45
Financial Highlights                                                                            Kebijakan Insider Trading
                                              Operational Overview                                                                              125
Ikhtisar Saham                           3                                                      Insider Trading Policy
                                              Tinjauan Pasar                            47
Stock Highlights
                                              Market Overview                                   Kebijakan Anti-Korupsi                          125
Peristiwa Penting                        4                                                      Anti-Corruption Policy
                                              Aspek Pemasaran                           48
Significant Events
                                              Marketing Aspect
Penghargaan dan Sertifikasi              5    Tinjauan Keuangan                         49      Tanggung Jawab Sosial
Awards and Certifications
                                              Financial Overview
Keanggotaan Asosiasi                     9
                                                                                                dan Lingkungan
Association Memberships                                                                         Perusahaan
                                              Aspek Pendukung                                   Corporate Social and
Laporan Manajemen                             Operasional                                       Environmental Responsibility
                                              Operational Supporting Aspects
Management Report
                                                                                              Ikhtisar Kinerja Keberlanjutan                    126
                                                                                              Sustainability Performance Highlights
Laporan Dewan Komisaris                  10   Sumber Daya Manusia                       62
Report of the Board of Commissioners          Human Resources                                 Komitmen Keberlanjutan                            127
                                                                                              Commitment to Sustainability
Laporan Direksi                          14   Teknologi Informasi                       68
Report of the Board of Directors              Information Technology
                                                                                                Tanggung Jawab                                  128
                                                                                                Laporan Tahunan
Profil Perusahaan                             Tata Kelola Perusahaan                            Annual Report Responsibility
Company's Profile                             Corporate Governance
                                                                                                Referensi Laporan                               129
Identitas Perusahaan                     19   Komitmen Penerapan Tata Kelola            72      Tahunan SEOJK
Company Identity                              Perusahaan                                        No. 16/SEOJK.04/2021
                                              Commitment to Implementing Corporate
Jejak Langkah                            20   Governance
                                                                                                Reference to OJK's Circular
Milestones                                                                                      Letter No. 16/SEOJK.04/2021
                                              Struktur, Mekanisme, dan Kebijakan        73
Riwayat Singkat                          21   Penerapan GCG
Brief History
                                                                                                Laporan Keuangan                                146
                                              Structure, Mechanism, and Policy of
                                              GCG Implementation
                                                                                                Konsolidasian
Visi dan Misi Perusahaan                 22
Company’s Vision and Mission                                                                    Consolidated Financial
                                              Penerapan Pedoman Tata Kelola             74
                                              Perusahaan Terbuka
                                                                                                Statements
Nilai-Nilai Perseroan                    23
Company Values                                Implementation of Governance Guidelines
                                              for Public Companies
Kegiatan Usaha                           24
                                              Penilaian Penerapan GCG
                                                                                              Sanggahan
Business Activities                                                                     77
Produk dan Jasa                          25
                                              Evaluation of GCG Implementation                dan Batasan
                                              Rapat Umum Pemegang Saham
Products and Services
                                              General Meeting of Shareholders
                                                                                        78    Tanggung Jawab
Wilayah Konsesi                          27
Concession Areas                              Dewan Komisaris                           82    Disclaimer and Scope
                                              Board of Commissioners
Struktur Organisasi                      28                                                   of Responsibility
Organizational Structure                      Direksi                                   91
                                              Board of Directors
Profil Dewan Komisaris                   29                                                   Laporan Tahunan 2024 PT Golden Energy Mines Tbk
Profile of Board of Commissioners             Remunerasi Dewan Komisaris dan Direksi    99    (yang selanjutnya disebut “Perseroan”) ini disusun untuk
                                              Remuneration of Board of Commissioners          memenuhi ketentuan pelaporan hasil kinerja Perseroan
Profil Direksi                           32   and Board of Directors                          pada periode 1 Januari 2024 sampai dengan 31 Desember
Profile of Board of Directors                                                                 2024 kepada regulator dan pemangku kepentingan.
                                              Komite Audit                              100
Profil Komite Audit                      35   Audit Committee                                 Laporan Tahunan ini antara lain disusun berdasarkan
Profile of Audit Committee                                                                    Peraturan Otoritas Jasa Keuangan No. 29/POJK.04/2016
                                              Fungsi Nominasi dan Remunerasi            103   tentang Laporan Tahunan Emiten atau Perusahaan Publik
Manajemen Eksekutif                      36   Nomination and Remuneration Function            dengan muatan konten sesuai Surat Edaran Otoritas Jasa
Executive Management                                                                          Keuangan No. 16/SEOJK.04/2021 tentang Bentuk dan Isi
                                              Sekretaris Perusahaan                     106
Komposisi Pemegang Saham                 37   Corporate Secretary                             Laporan Tahunan Emiten atau Perusahaan Publik.
Composition of Shareholders
                                              Satuan Kerja Audit Internal               108   Laporan Tahunan ini memuat pernyataan terkait tujuan,
Kronologi Pencatatan Saham               39   Internal Audit Unit                             kebijakan, rencana, strategi, serta hasil operasi dan
Stock Listing Chronology                                                                      keuangan yang disusun berdasarkan data faktual yang
                                              Sistem Pengendalian Internal              112
Kronologi Pencatatan Efek Lainnya        39                                                   dapat dipertanggungjawabkan kebenarannya. Oleh karena
                                              Internal Control System
Other Securities Listing Chronology                                                           itu, Perseroan mengimbau agar pemangku kepentingan
                                              Sistem Manajemen Risiko                   114   dapat menggunakan informasi tersebut secara bijak dalam
Pemegang Saham Utama dan Pengendali      40   Risk Management System                          pengambilan keputusan.
Majority and Controlling Shareholders
                                              Eksternal Audit                           120   The 2024 Annual Report of PT Golden Energy Mines Tbk
Struktur Korporasi                       41   External Audit
Corporate Structure                                                                           (hereinafter referred to as “the Company”) was prepared
                                              Kode Etik                                 121   to meet the requirements of reporting the Company’s
Lembaga Penunjang Pasar Modal            43   Code of Conduct                                 performance results for the period of January 1st, 2024, to
Capital Market Supporting Institutions                                                        December 31st, 2024, to the regulator and stakeholders.
                                              Program Kepemilikan Saham oleh            122   This Annual Report has been compiled based on Financial
Informasi pada Situs Web Perusahaan      44   Karyawan dan/atau Manajemen
Information on Company’s Website                                                              Services Authority Regulation No. 29/POJK.04/2016
                                              Employees and/or Management Share               on Annual Reports of Issuers or Public Companies with
                                              Ownership Program                               content in accordance with Financial Services Authority
                                              Perkara Penting                           122   Circular No. 16/SEOJK.04/2021 on the Form and Contents
                                              Significant Cases                               of Annual Report of Issuers or Public Companies.
                                              Sanksi Administratif                      122   This Annual Report contains statements related to
                                              Administrative Sanction                         objectives, policies, plans, strategies, and results of
                                              Sistem Pelaporan Pelanggaran              123   operations and finance compiled based on factual
                                              Whistleblowing System                           data that is justifiable. Therefore, the Company urges
                                                                                              stakeholders to use the information with discretion in
                                                                                              their decision making.
Page 3
                                                                                                 Performance Overview




KILAS KINERJA
Performance Overview

Pencapaian Tahun 2024
Achievements in 2024




    Pendapatan Usaha
              Revenues
              juta / million



   USD
            2,705.52


                                           Total Aset                          Laba Tahun Berjalan
                                           Total Assets                           Profit for the Year
                                           juta / million                              juta / million

               menurun
               decrease
                                     USD
                                        1,239.57                                  USD
                                                                                        483.13
                6.77       %
                                      menurun                                      menurun
          year over year (yoy)
                                      decrease         5.52%                       decrease         8.63%
                                                            yoy                                               yoy




                                                                  Volume Produksi
  Wilayah Pemasaran
  Marketing Areas
                                                                  Production Volume                 50.69
                                                                  jutaan ton / million tons


                                                                            meningkat
  Tiongkok / China 45.12%                                                   increase          9.91%            yoy



  Lainnya / Others         6.87%
                                                                  Volume Penjualan
  India                 11.19    %                                Sales Volume                      51.86
                                                                  jutaan ton / million tons

  Indonesia             36.82%                                              meningkat
                                                                            increase      10.60%               yoy




                                                                         Laporan Tahunan 2024 Annual Report         1
Page 4
Kilas Kinerja




Ikhtisar Keuangan
Financial Highlights


                                                                                dalam jutaan USD, kecuali dinyatakan lain / in million USD, unless stated otherwise


                 Uraian                   2024       2023         2022               2021            2020                        Description

 Laporan Posisi Keuangan Konsolidasian
 Consolidated Statements of Financial Position

 Total Aset                              1,239.58    1,312.04    1,129.09             829.03          813.72                                      Total Assets

    Total Aset Lancar                      706.07     841.97       724.32             434.16          407.86                          Total Current Assets

    Total Aset Tidak Lancar                533.51     470.07       404.77             394.87          405.86                    Total Non-Current Assets

 Total Liabilitas                          578.45     648.93       570.84             512.70          464.28                                  Total Liabilities

    Total Liabilitas Jangka Pendek         521.59     615.38       473.26             425.22          330.62                      Total Current Liabilities

    Total Liabilitas Jangka Panjang         56.86       33.55       97.58              87.48          133.66                Total Non-Current Liabilities

 Total Ekuitas                             661.13     663.11       558.25             316.33          349.43                                      Total Equity

    Modal Kerja Bersih                     184.47     226.59       251.06                8.94           77.24                         Net Working Capital

    Investasi pada Entitas Asosiasi              -          -               -                -           0.03             Investment in Associate Entity

 Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian
 Consolidated Statements of Profit or Loss and Other Comprehensive Income

 Pendapatan Usaha                        2,705.52    2,901.84    2,919.96           1,585.95        1,061.41                                          Revenues

 Laba Bruto                              1,104.58    1,146.05    1,314.47             756.76          379.10                                       Gross Profit

 Laba Usaha                                640.49     694.06       916.81             471.22          129.66                                  Operating Profit

 Laba Sebelum Pajak                        635.76     682.98       898.69             460.84          127.13                        Profit Before Income Tax

 Beban Pajak - Penghasilan Badan         (152.63)    (154.23)     (202.78)          (106.82)          (31.28)              Corporate Income - Tax Expense

 Laba Tahun Berjalan                       483.13     528.75       695.91             354.02            95.86                               Profit for the Year

    Pemilik Entitas Induk                  473.81     518.38       680.37             348.00            93.93                Owners of the Parent Entity

    Kepentingan Non-Pengendali               9.32       10.37       15.54                6.02            1.93                   Non-Controlling Interests

 Total Penghasilan Komprehensif                                                                                                Total Comprehensive Income
                                           482.28     528.20       697.32             354.56            95.64
 Tahun Berjalan                                                                                                                               for the Year

    Pemilik Entitas Induk                  473.41     517.15       681.58             348.50            93.61                Owners of the Parent Entity

    Kepentingan Non-Pengendali               8.87       11.05       15.75                6.06            2.03                   Non-Controlling Interests

 Laba per Saham Dasar (USD)                  0.08        0.09        0.12                0.06            0.02           Basic Net Earnings per Share (USD)

 Rasio Keuangan (%)
 Financial Ratio (%)

 Rasio Laba terhadap Pendapatan             17.83       18.20       23.88              22.36             9.01                              Return on Revenue

 Rasio Laba terhadap Aset                   38.91       40.26       61.76              42.77            11.75                                Return on Assets

 Rasio Laba terhadap Ekuitas                72.95       79.65      124.91             112.09            27.37                                Return on Equity

 Margin Laba Bruto                          40.83       39.49       45.02              47.72            35.72                              Gross Profit Margin

 Margin Laba Usaha                          23.67       23.92       31.40              29.71            12.22                        Operating Profit Margin

 Margin Laba Bersih                         17.86       18.22       23.83              22.32             9.03                                Net Profit Margin

 Rasio Solvabilitas (x)                                                                                                                   Solvency Ratios (x)

    Rasio Liabilitas terhadap Ekuitas        0.87        0.98        1.02                1.62            1.33                   Liabilities to Equity Ratio

    Rasio Liabilitas terhadap Aset           0.47        0.49        0.51                0.62            0.57                   Liabilities to Assets Ratio

 Rasio Likuiditas (x)                                                                                                                      Liquidity Ratio (x)

    Rasio Lancar                             1.35        1.37        1.53                1.02            1.23                                 Current Ratio

    Tingkat Perputaran Persediaan           51.02       42.54       44.39              33.84            32.82                           Inventory Turnover

    Tingkat Perputaran Aset Tetap           25.31       31.73       36.95              19.76            12.77                        Fixed Asset Turnover

    Tingkat Perputaran Aset Total            2.12        2.38        2.98                1.93            1.33                         Total Asset Turnover




  2         PT Golden Energy Mines Tbk
Page 5
                                                                                                                                                Performance Overview




1,400                                                                                4,000

1,200
                                                                                     3,000
1,000

 800
                                                                                     2,000
 600

 400
                                                                                     1,000
 200

    -                                                                                      -

          2020           2021          2022         2023             2024                       2020           2021             2022           2023          2024
                                                                                                Pendapatan      Beban Pokok                             Laba Tahun
                 Aset               Liabilitas             Ekuitas                                Usaha          Penjualan          Laba Usaha            Berjalan
                Assets              Liabilities            Equity                                Revenues       Cost of Sales     Operating Profit   Profit for the Year




Ikhtisar Saham
Stock Highlights

                                                                                                                Jumlah Saham
                                                                                Volume Transaksi
                  Harga                                           Harga                                            Beredar                 Kapitalisasi Pasar
                                   Harga Tertinggi                               (Lembar Saham)
 Periode        Terendah                                        Penutupan                                      (Lembar Saham)                   Market
                                      Highest Price                                  Transaction
 Period       Lowest Price                                  Closing Price                                     Total Outstanding             Capitalization
                                           (Rp)                                        Volume
                    (Rp)                                          (Rp)                                              Shares                        (Rp)
                                                                                       (Shares)
                                                                                                                   (Shares)

                                                                              2024

   Q1              5,675                   6,000                  5,900                    4,274,900            5,882,353,000               34,705,882,700,000

   Q2              5,850                   7,050                  6,900                   12,570,300            5,882,353,000               40,588,235,700,000

   Q3              6,850                  18,800                 13,025                   79,589,100            5,882,353,000               76,617,647,825,000

   Q4              9,900                  13,100                 10,625                   22,180,700            5,882,353,000               62,500,000,625,000

                                                                              2023

   Q1              6,000                   7,125                  6,500                    2,018,900            5,882,353,000               38,235,294,500,000

   Q2              5,700                   7,125                  5,825                    2,812,900            5,882,353,000               34,264,706,225,000

   Q3              5,900                   7,975                  6,075                   64,487,800            5,882,353,000               35,735,294,475,000

   Q4              5,475                   6,325                  5,800                   18,290,900            5,882,353,000               34,117,647,400,000

        Volume Transaksi (Lembar Saham)                                                                                           Harga Penutupan (Rp)
        Transaction Volumes (Shares)                                                                                                  Closing Price (Rp)

             90,000,000                                                                                                                14,000

             80,000,000
                                                                                                                                       12,000
             70,000,000
                                                                                                                                       10,000
             60,000,000

             50,000,000                                                                                                                8,000

             40,000,000                                                                                                                6,000
             30,000,000
                                                                                                                                       4,000
             20,000,000
                                                                                                                                       2,000
             10,000,000

                         -                                                                                                             -

                                 Q1           Q2           Q3            Q4          Q1         Q2             Q3          Q4


                                                   2023                                                2024
                                       Volume Transaksi (Lembar Saham)                         Harga Penutupan (Rp)
                                          Transaction Volume (Shares)                            Closing Price (Rp)



                                                                                                                      Laporan Tahunan 2024 Annual Report           3
Page 6
Kilas Kinerja




Aksi Korporasi dan Perdagangan Saham
Corporate Action and Stock Trading

Pada tahun 2024, Perseroan tidak melakukan aksi korporasi,                    In 2024, the Company did not undertake any corporate actions,
baik berupa pemecahan saham, penggabungan saham,                              either in the form of stock split, reverse stock, issuance of stock
penerbitan dividen saham, saham bonus, efek konversi, maupun                  dividend, bonus share, convertible securities, or changes in
perubahan nilai nominal saham atau jumlah saham beredar.                      the nominal value of shares or the number of outstanding shares.
Selain itu, Perseroan tidak menghadapi permasalahan dalam                     In addition, the Company did not face any problems in stock
perdagangan saham, seperti penghentian sementara atau                         trading, such as temporary suspension or delisting of shares.
penghapusan pencatatan saham.




Peristiwa Penting
Significant Events



 16        Mei / May 2024


    Perseroan telah menyelenggarakan RUPS Tahunan secara fisik dan virtual.
    The Company held the Annual GMS, virtually and in person.




                                                                                                     7-10           September 2024


                                                                    Direksi dan Dewan Komisaris Perseroan menghadiri acara Coal Trans 2024 yang
                                                                    diadakan di Bali.
                                                                    The Board of Directors and Board of Commissioners attended the Coal Trans
                                                                    2024 event held in Bali.




   18-19           Oktober / October 2024


    Perseroan telah menyelenggarakan HSE Boothcamp dengan tema “Be an
    Impactful Leader”.
    The Company held an HSE Boothcamp with the theme "Be an Impactful Leader".




  4         PT Golden Energy Mines Tbk
Page 7
                                                                                                                                            Performance Overview




Penghargaan dan Sertifikasi
Awards and Certifications
Penghargaan
Awards




                                     1                                                                                  2




                                     3                                                                                  4


No.                         Nama Penghargaan                                   Penerima         Periode          Penyelenggara              Tanggal Penghargaan
                             Name of Award                                     Recipient        Period             Organizer                   Awarding Date

 1. Penghargaan Nasional Lingkungan Hidup “Indonesia Green Awards PT Borneo Indobara             2024        The La Tofi School of CSR         17 Januari 2024
      2024” dengan Predikat “The Prominent” dalam Bidang:                                                                                     January 17th, 2024
      1. Pengorganisasian Tanggung Jawab Sosial Perusahaan;
      2. Pengembangan Wisata Konservasi Alam;
      3. Penyelamatan Sumber Daya Alam; serta
      4. Pengorganisasian Tanggung Jawab Sosial Perusahaan yang
         Sangat Terstruktur dan Membawa Cerita Perubahan yang Luas
         dari Berbagai Pendekatan Maupun Program yang Dilakukan.
      National Environmental Award “Indonesia Green Awards 2024”
      with the title “The Prominent” in the Fields of:
      1. Organization of Corporate Social Responsibility;
      2. Development of Nature Conservation Tourism;
      3. Saving Natural Resources; and
      4. Organization of Corporate Social Responsibility that is Very
         Structured and Brings a Broad Story of Change from Various
         Approaches and Programs Carried Out.

 2. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,            PT Borneo Indobara    2024       Menteri Desa, Pembangunan            7 Mei 2024
      Kategori Gold, melalui Program “Banyu Biru Andaru: Pemanfaatan                                          Daerah Tertinggal, dan            May 7th, 2024
      Kolam Bekas Tambang sebagai Sumber Air Bersih Masyarakat”                                           Transmigrasi Republik Indonesia
      CSR Award and Sustainable Village Development Award, Gold                                                 Minister of Villages,
      Category, through “Banyu Biru Andaru: Utilization of Former                                         Development of Disadvantaged
      Mining Ponds as a Source of Clean Water for the Community”                                          Regions, and Transmigration of
      Program                                                                                                the Republic of Indonesia

 3. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,            PT Borneo Indobara    2024       Menteri Desa, Pembangunan            7 Mei 2024
      Kategori Gold, melalui Program “Community Learning Center:                                              Daerah Tertinggal, dan            May 7th, 2024
      Pemanfaatan Lahan Bekas Tambang Sebagai Sarana Pembelajaran                                         Transmigrasi Republik Indonesia
      Masyarakat dalam Konteks Integrated Farming System”                                                       Minister of Villages,
      CSR Award and Sustainable Village Development Award, Gold                                           Development of Disadvantaged
      Category, through “Community Learning Center: Utilization of                                        Regions, and Transmigration of
      Ex-Mining Land as a Community Learning Facility in the Context of                                      the Republic of Indonesia
      Integrated Farming System” Program

 4. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,            PT Borneo Indobara    2024       Menteri Desa, Pembangunan            7 Mei 2024
      Kategori Gold, melalui Program “Integrasi Kluster Pertanian,                                            Daerah Tertinggal, dan            May 7th, 2024
      Peternakan, dan Perikanan sebagai Daya Dukung Program Ketahanan                                     Transmigrasi Republik Indonesia
      Pangan Nasional di Lingkar Tambang PT Borneo Indobara”                                                    Minister of Villages,
      CSR Award and Sustainable Village Development Award, Gold                                           Development of Disadvantaged
      Category, through the Program “Integration of Agriculture,                                          Regions, and Transmigration of
      Livestock, and Fisheries Clusters as Support for the National Food                                     the Republic of Indonesia
      Security Program in PT Borneo Indobara Mining Circle”



                                                                                                                 Laporan Tahunan 2024 Annual Report         5
Page 8
Kilas Kinerja




                       5                                                                                 6                                                                                                             7




                                                                                    S E RT I F I K A T                                                                                            S E RT I F I K A T
                                                                            PENGHARGAAN                                                                                                   PENGHARGAAN
                                                                                          Dengan bangga diberikan kepada:                                                                               Dengan bangga diberikan kepada:
                                                                                                                                                                                                            BONIFASIUS H
                                                                                PT BORNEO INDOBARA                                                                                                               DIREKTUR UTAMA
                                                                                                                                                                                                            PT BORNEO INDOBARA
                                                                         SEBAGAI PEMENANG TOP CSR AWARDS 2024 # STAR 5                                                                      SEBAGAI PEMENANG TOP CSR AWARDS 2024

                                                                                                                                                                            TOP LEADER ON CSR COMMITMENT 2024
                                                                                              J A K A RTA , 2 9 ME I 2 0 2 4                                                                                J A K A RTA , 2 9 ME I 2 0 2 4



                                                              M. Lutfi Handayani, MM., MBA.                                    Drs. Mas Achmad Daniri, MEc                  M. Lutfi Handayani, MM., MBA.                                    Drs. Mas Achmad Daniri, MEc
                                                                   Ketua Penyelenggara                                              Ketua Dewan Juri                             Ketua Penyelenggara                                              Ketua Dewan Juri




                       8                                                                                 9                                                                                                          10


No.                         Nama Penghargaan                                                               Penerima                                 Periode            Penyelenggara                                               Tanggal Penghargaan
                             Name of Award                                                                 Recipient                                Period               Organizer                                                    Awarding Date

 5. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,                               PT Borneo Indobara                                         2024     Menteri Desa, Pembangunan                                                   7 Mei 2024
      Kategori Gold, melalui Program "UMKM Center: Wadah Hilirisasi                                                                                                 Daerah Tertinggal, dan                                                   May 7th, 2024
      dan Pemasaran Produk Unggulan Desa di Wilayah Kabupaten                                                                                                   Transmigrasi Republik Indonesia
      Tanah Bumbu"                                                                                                                                                    Minister of Villages,
      CSR Award and Sustainable Village Development Award, Gold                                                                                                 Development of Disadvantaged
      Category, through “MSME Center: A Container for Downstreaming                                                                                             Regions, and Transmigration of
      and Marketing of Superior Village Products in Tanah Bumbu                                                                                                    the Republic of Indonesia
      Regency” Program

 6. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,                               PT Borneo Indobara                                         2024     Menteri Desa, Pembangunan                                                    7 Mei 2024
      Kategori Silver, melalui Program “Mesjid Apung Ziyadatul Abrar:                                                                                               Daerah Tertinggal, dan                                                    May 7th, 2024
      Ikon Wisata Religi Pengungkit Berkah dan Kesejahteraan”                                                                                                   Transmigrasi Republik Indonesia
      CSR Award and Sustainable Village Development Award, Silver                                                                                                     Minister of Villages,
      Category, through “Ziyadatul Abrar Floating Mosque: Icon of                                                                                               Development of Disadvantaged
      Religious Tourism Leveraging Blessings and Welfare” Program                                                                                               Regions, and Transmigration of
                                                                                                                                                                   the Republic of Indonesia

 7. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,                               PT Borneo Indobara                                         2024     Menteri Desa, Pembangunan                                                    7 Mei 2024
      Kategori Silver, melalui Program “Merajut Kemitraan                                                                                                           Daerah Tertinggal, dan                                                    May 7th, 2024
      Multi-Stakeholders dalam Mewujudkan Masyarakat Mandiri                                                                                                    Transmigrasi Republik Indonesia
      Berkelanjutan di Wilayah Lingkar Tambang PT Borneo Indobara”                                                                                                    Minister of Villages,
      CSR Award and Sustainable Village Development Award, Silver                                                                                               Development of Disadvantaged
      Category, through the Program “Forging Multi-Stakeholder                                                                                                  Regions, and Transmigration of
      Partnerships in Realizing Sustainable Independent Communities in                                                                                             the Republic of Indonesia
      PT Borneo Indobara Mining Circle Area”

 8. Penghargaan CSR dan Pengembangan Desa Berkelanjutan Awards,                               PT Borneo Indobara                                         2024     Menteri Desa, Pembangunan                                                    7 Mei 2024
      Kategori Silver, melalui Program "Karin Feed Mill: Pengembangan                                                                                               Daerah Tertinggal, dan                                                    May 7th, 2024
      Pabrik Pakan Unggas dan Ikan Mandiri Berbasis Sumber Daya Lokal"                                                                                          Transmigrasi Republik Indonesia
      CSR Award and Sustainable Village Development Award, Silver                                                                                                     Minister of Villages,
      Category, through “Karin Feed Mill: Development of Independent                                                                                            Development of Disadvantaged
      Poultry and Fish Feed Factory Based on Local Resources” Program                                                                                           Regions, and Transmigration of
                                                                                                                                                                   the Republic of Indonesia

 9. Top CSR Awards 2024 #Star5                                                                PT Borneo Indobara                                         2024            Top Business                                                         29 Mei 2024
                                                                                                                                                                                                                                             May 29th, 2024

10. Top CSR Awards 2024 Sebagai “Top Leader on CSR”                                               Bapak Bonifasius                                       2024            Top Business                                                         29 Mei 2024
      Top CSR Awards 2024 As “Top Leader on CSR”                                                   Mr. Bonifasius                                                                                                                            May 29th, 2024




  6         PT Golden Energy Mines Tbk
Page 9
                                                                                                                                                                                                     Performance Overview




                                                                                                                 This is to certify that


                                                                                           PT Golden Energy Mines Tbk
                                                                                                                          As


                                                                                             Wealth Creator of the Large Market Capitalization Category

                                                                                      INDONESIA THE BEST PUBLIC COMPANIES BASED ON WAITM (OVERALL) 2024




                                                                                                              Jakarta, September 24th, 2024




                                                                                                                     Kemal Gani
                                                                                                                 Group Chief Editor SWA
                                                                       * Method by:




          11                               12                                                                   13                                                                           14




                        14                                                                                    15                                                                               16


No.                          Nama Penghargaan                                                                Penerima                                     Periode         Penyelenggara              Tanggal Penghargaan
                              Name of Award                                                                  Recipient                                    Period            Organizer                   Awarding Date

11. Kategori Sapphire dalam Bidang Mineral & Coal Prosper B “Best                               PT Golden Energy                                           2024            Hukum Online                   31 Mei 2024
      Enterprise in Regulatory Compliance”                                                         Mines Tbk                                                                                             May 31st, 2024
      Sapphire Category in the Mineral & Coal Sector Prosper B “Best
      Enterprise in Regulatory Compliance”

12. Apresiasi Emiten 52:                                                                        PT Golden Energy                                           2024      Tempo dan IDNFinancials 52           26 Juli 2024
      High Dividend, High Growth, dan High Market Capitalization                                   Mines Tbk                                                         Tempo and IDNFinancials 52          July 26th, 2024
      Issuer Appreciation 52:
      High Dividend, High Growth, and High Market Capitalization

13. Indonesia’s Best Public Companies “Best Wealth Creator 2024 of                              PT Golden Energy                                           2024      Majalah SWA dan Stern Value       24 September 2024
      the Large Market Capitalization Category”                                                    Mines Tbk                                                                Management                September 24th, 2024
                                                                                                                                                                    SWA Magazine and Stern Value
                                                                                                                                                                            Management

14. Penghargaan Good Mining Practice Award 2024:                                             PT Borneo Indobara                                            2024      Menteri Energi dan Sumber         25 September 2024
      1. Penghargaan Aditama “Pengelolaan Konservasi Mineral dan                                                                                                             Daya Mineral             September 25th, 2024
         Batubara”;                                                                                                                                                 Minister of Energy and Mineral
      2. Penghargaan Utama “Pengelolaan Standardisasi dan Usaha Jasa                                                                                                          Resources
         Pertambangan Mineral dan Batubara”;
      3. Penghargaan Aditama “Pengelolaan Teknis Pertambangan
         Mineral dan Batubara”; serta
      4. Penghargaan Aditama “Pengelolaan Lingkungan Hidup
         Pertambangan Mineral dan Batubara”.
      Good Mining Practice Awards 2024:
      1. Aditama Award “Mineral and Coal Conservation Management”;
      2. Main Award “Mineral and Coal Mining Standardization and
         Service Business Management”;
      3. Aditama Award “Mineral and Coal Mining Technical
         Management”; and
      4. Aditama Award “Mineral and Coal Mining Environmental
         Management”.

15. Sinar Mas Digital Day 2024:                                                                 PT Golden Energy                                           2024               Sinar Mas              28-29 September 2024
      1. The Innovation Champion Award 2024;                                                       Mines Tbk                                                                                          September 28th-29th,
      2. Young Digital Leader Award 2024; dan / and                                                                                                                                                          2024
      3. The Distinguished Leader Award 2024

16. Penghargaan Subroto 2024 “Bidang Inovasi Keteknikan dan                                  PT Borneo Indobara                                            2024      Menteri Energi dan Sumber          10 Oktober 2024
      Lingkungan Minerba”                                                                                                                                                    Daya Mineral              October 10th, 2024
      Subroto Award 2024 “Innovation in Engineering and Mineral and                                                                                                 Minister of Energy and Mineral
      Coal Environment”                                                                                                                                                       Resources




                                                                                                                                                                          Laporan Tahunan 2024 Annual Report         7
Page 10
Kilas Kinerja




          17                                                   18                                                                           19                         20




                                                                                  This certificate is awarded to :



                                                                        PT Golden Energy Mines Tbk

                                                                                With Predicate : Very Good
                                                                           For Its Outstanding Digital Innovation


                                                                                      Jakarta, December 17th , 2024




                                                                                            Kemal e. Gani
                                                                                      Group Chief Editor SWA Group




                        21                                                              22                                         23                                24




No.                          Nama Penghargaan                                                            Penerima     Periode         Penyelenggara              Tanggal Penghargaan
                              Name of Award                                                              Recipient    Period            Organizer                   Awarding Date

17. Penghargaan Subroto 2024 “Bidang Pengembangan dan                               PT Borneo Indobara                 2024      Menteri Energi dan Sumber          10 Oktober 2024
      Pemberdayaan Masyarakat (PPM) Batubara Terinovatif”                                                                              Daya Mineral                October 10th, 2024
      Subroto Award 2024 “Most Innovative Coal Community                                                                          Minister of Energy and
      Development and Empowerment (PPM)”                                                                                            Mineral Resources

18. Indonesia Sustainable Development Goals Award 2024:                                     PT Kuansing Inti           2024       Corporate Forum for CSR          14 November 2024
      1. Platinum Award - Integrated Agricultural Center Program;                               Makmur                              Development (CFCD)            November 14th, 2024
      2. Gold Award - Organic Waste Management; dan
      3. 2nd Place Individual Local Heroes - Moy Monang Singgih,
         Peternak Kambing dari Desa Talang Silungo, Tanjung Belit
      Indonesia Sustainable Development Goals Award 2024:
      1. Platinum Award - Integrated Agricultural Center Program;
      2. Gold Award - Organic Waste Management; and
      3. 2nd Place Individual Local Heroes - Moy Monang Singgih, Goat
         Farmer from Talang Silungo Village, Tanjung Belit

19. Platinum Ranks                                                                      PT Golden Energy               2024      Asia Sustainability Reporting     21 November 2024
                                                                                           Mines Tbk                                   Rating (ASRRAT)            November 21st, 2024

20. Top 50 Big Capitalization Public Listed Company                                     PT Golden Energy               2024        Indonesian Institute for        25 November 2024
                                                                                           Mines Tbk                                Corporate Directorship        November 25th, 2024

21. Top Digital Award 2024:                                                             PT Golden Energy               2024           It Works Magazine             5 Desember 2024
      1. Top Digital Implementation 2024 (Stars 4); dan / and                              Mines Tbk                                                               December 5th, 2024
      2. Top Leader on Digital Implementation 2024: Mr. Bonifasius
         (President Director of GEMS)

22. Indonesia Best Digital Innovation Award 2024: Outstanding Digital                   PT Golden Energy               2024              SWA Media                 17 Desember 2024
      Innovation (Very Good)                                                               Mines Tbk                                                              December 17th, 2024

23. Penghargaan Peringkat “HIJAU” Program Penilaian Peringkat                       PT Borneo Indobara                 2024     Kementerian Lingkungan Hidup
      Kinerja Perusahaan (PROPER) dalam Pengelolaan Lingkungan Hidup                                                                   dan Perhutanan
      “GREEN” Corporate Performance Rating Assessment Program                                                                    Ministry of Environment and
      (PROPER) in Environmental Management                                                                                             Forestry (KLHK)

24. Penghargaan Peringkat “BIRU” Program Penilaian Peringkat                                PT Kuansing Inti           2024     Kementerian Lingkungan Hidup
      Kinerja Perusahaan (PROPER) dalam Pengelolaan Lingkungan Hidup                            Makmur                                 dan Perhutanan
      “BIRU” Corporate Performance Rating Assessment Program                                                                     Ministry of Environment and
      (PROPER) in Environmental Management                                                                                             Forestry (KLHK)




  8         PT Golden Energy Mines Tbk
Page 11
                                                                                                                                                                                                                                                                                                                                                            Performance Overview




 Sertifikasi
 Certifications

                                                                                                                     REPUBLIK INDONESIA                                                                                                                      REPUBLIK INDONESIA
                                                                                                           KEMENTERIAN HUKUM DAN HAK ASASI MANUSIA                                                                                                 KEMENTERIAN HUKUM DAN HAK ASASI MANUSIA



                                                                                          SURAT PENCATATAN CIPTAAN                                                                                                                SURAT PENCATATAN CIPTAAN
                                                                             Dalam rangka pelindungan ciptaan di bidang ilmu pengetahuan, seni dan sastra berdasarkan Undang-Undang Nomor 28 Tahun                   Dalam rangka pelindungan ciptaan di bidang ilmu pengetahuan, seni dan sastra berdasarkan Undang-Undang Nomor 28 Tahun
                                                                          2014 tentang Hak Cipta, dengan ini menerangkan:                                                                                         2014 tentang Hak Cipta, dengan ini menerangkan:

                                                                          Nomor dan tanggal permohonan                          : EC00202469676, 22 Juli 2024                                                     Nomor dan tanggal permohonan                          : EC00202470235, 23 Juli 2024
                                                                          Pencipta                                                                                                                                Pencipta
                                                                          Nama                                                  : PT. Borneo Indobara                                                             Nama                                                  : IR. R. Utoro, Supandi dkk
                                                                          Alamat                                                : Jl. Provinsi Km. 180 RT. 02 RW. 01, Desa Angsana, Kec. Angsana, Kab.            Alamat                                                : Jl. Bhaskara Selatan E-3, RT. 9, RW. 2, Kalisari, Mulyorejo, Kota
                                                                                                                                  Tanah Bumbu, Prov. Kalimantan Selatan, Angsana, Tanah Bumbu,                                                                            Surabaya, Mulyorejo, Surabaya, Jawa Timur, 60112
                                                                                                                                  Kalimantan Selatan , Angsana, Tanah Bumbu, Kalimantan Selatan, 72275
                                                                                                                                                                                                                  Kewarganegaraan                                       : Indonesia
                                                                          Kewarganegaraan                                       : Indonesia
                                                                                                                                                                                                                  Pemegang Hak Cipta
                                                                          Pemegang Hak Cipta                                                                                                                      Nama                                                  : PT. Borneo Indobara
                                                                          Nama                                                  : PT. Borneo Indobara
                                                                                                                                                                                                                  Alamat                                                : Jl. Provinsi Km. 180 RT. 02 RW. 01, Desa Angsana, Kec. Angsana, Kab.
                                                                          Alamat                                                : Jl. Provinsi Km. 180 RT. 02 RW. 01, Desa Angsana, Kec. Angsana, Kab.                                                                    Tanah Bumbu, Prov. Kalimantan Selatan, Angsana, Tanah Bumbu,
                                                                                                                                  Tanah Bumbu, Prov. Kalimantan Selatan, Angsana, Tanah Bumbu,                                                                            Kalimantan Selatan 72275
                                                                                                                                  Kalimantan Selatan, Angsana, Tanah Bumbu, Kalimantan Selatan 72275              Kewarganegaraan                                       : Indonesia
                                                                          Kewarganegaraan                                       : Indonesia
                                                                                                                                                                                                                  Jenis Ciptaan                                         : Modul
                                                                          Jenis Ciptaan                                         : Karya Rekaman Video
                                                                                                                                                                                                                  Judul Ciptaan                                         : SICANTIK “Sistem Camera Analitik” PT. Borneo Indobara
                                                                          Judul Ciptaan                                         : SICANTIK “Sistem Kamera Analitik” PT. Borneo Indobara
                                                                                                                                                                                                                  Tanggal dan tempat diumumkan untuk pertama kali       : 1 Juli 2024, di Tanah Bumbu
                                                                          Tanggal dan tempat diumumkan untuk pertama kali       : 1 Juli 2024, di Tanah Bumbu                                                     di wilayah Indonesia atau di luar wilayah Indonesia
                                                                          di wilayah Indonesia atau di luar wilayah Indonesia
                                                                                                                                                                                                                  Jangka waktu pelindungan                              : Berlaku selama 50 (lima puluh) tahun sejak Ciptaan tersebut pertama kali
                                                                          Jangka waktu pelindungan                              : Berlaku selama 50 (lima puluh) tahun sejak Ciptaan tersebut pertama kali                                                                dilakukan Pengumuman.
                                                                                                                                  dilakukan Pengumuman.
                                                                                                                                                                                                                  Nomor pencatatan                                      : 000645586
                                                                          Nomor pencatatan                                      : 000645027
                                                                                                                                                                                                                  adalah benar berdasarkan keterangan yang diberikan oleh Pemohon.
                                                                          adalah benar berdasarkan keterangan yang diberikan oleh Pemohon.                                                                        Surat Pencatatan Hak Cipta atau produk Hak terkait ini sesuai dengan Pasal 72 Undang-Undang Nomor 28 Tahun 2014 tentang Hak
                                                                          Surat Pencatatan Hak Cipta atau produk Hak terkait ini sesuai dengan Pasal 72 Undang-Undang Nomor 28 Tahun 2014 tentang Hak             Cipta.
                                                                          Cipta.
                                                                                                                                                                                                                                                                              a.n. MENTERI HUKUM DAN HAK ASASI MANUSIA
                                                                                                                                      a.n. MENTERI HUKUM DAN HAK ASASI MANUSIA                                                                                                DIREKTUR JENDERAL KEKAYAAN INTELEKTUAL
                                                                                                                                      DIREKTUR JENDERAL KEKAYAAN INTELEKTUAL                                                                                                                           u.b
                                                                                                                                                               u.b                                                                                                                    Direktur Hak Cipta dan Desain Industri
                                                                                                                                              Direktur Hak Cipta dan Desain Industri




                                                                                                                                                                                                                                                                                             IGNATIUS M.T. SILALAHI
                                                                                                                                                    IGNATIUS M.T. SILALAHI                                                                                                                    NIP. 196812301996031001
                                                                                                                                                     NIP. 196812301996031001




  Sertifikat Desain Industri:      Sertifikat Merek: Tambara         Surat Pencatatan Ciptaan                                                                                                                Surat Pencatatan Ciptaan                                                                                                                Surat Pencatatan Ciptaan
        Kompor Briket                  Brand Certificate:            1. Jenis Ciptaan: Karya                                                                                                                 1. Jenis Ciptaan: Modul                                                                                                                 Buku Panduan/Petunjuk:
Industrial Design Certificate:              Tambara                     Rekaman Video                                                                                                                        2. Judul Ciptaan: SICANTIK                                                                                                                Inovasi Produk Briket
       Briquette Stove                                               2. Judul Ciptaan: SICANTIK                                                                                                                 "Sistem Kamera Analitik"                                                                                                             Batubara Cepat Menyala
     Penerima / Recipient :            Penerima / Recipient :           "Sistem Kamera Analitik"                                                                                                                PT Borneo Indobara                                                                                                                      dan Implementasinya
       PT Borneo Indobara                PT Borneo Indobara             PT Borneo Indobara                                                                                                                   Registration Letter for                                                                                                                   Registration Letter for
                                                                     Registration Letter for                                                                                                                 Creation of                                                                                                                              Creation of Guidebook/
 Penyelenggara / Organizer :       Penyelenggara / Organizer :       Creation of                                                                                                                             1. Type of Creation: Module                                                                                                              Instructions: Innovation
 Direktur Hak Cipta dan Desain     Direktur Hak Cipta dan Desain     1. Type of Creation:                                                                                                                    2. Title of Creation:                                                                                                                      of Fast-Lighting Coal
 Industri - Menteri Hukum dan      Industri - Menteri Hukum dan         Video Recording Work                                                                                                                    SICANTIK "Analytical                                                                                                                   Briquette Products and
        Hak Asasi Manusia                 Hak Asasi Manusia          2. Title of Creation:                                                                                                                      Camera System"                                                                                                                           Its Implementation
    Director of Copyright and         Director of Copyright and         SICANTIK "Analytical                                                                                                                    PT Borneo Indobara
 Industrial Design - Minister of   Industrial Design - Minister of      Camera System"
     Law and Human Rights              Law and Human Rights                                                                                                                                                       Penerima / Recipient :                                                                                                                 Penerima / Recipient :
                                                                        PT Borneo Indobara                                                                                                                          PT Borneo Indobara                                                                                                                     PT Borneo Indobara
      Periode Sertifikasi /             Periode Sertifikasi /
     Certification Period :            Certification Period :             Penerima / Recipient :                                                                                                              Penyelenggara / Organizer :                                                                                                            Penyelenggara / Organizer :
   7 April 2023-7 April 2033 /       8 April 2023-8 April 2033 /            PT Borneo Indobara                                                                                                                Direktur Hak Cipta dan Desain                                                                                                          Direktur Hak Cipta dan Desain
 April 7th, 2023-April 7th, 2033   April 8th, 2023-April 8th, 2033    Penyelenggara / Organizer :                                                                                                             Industri - Menteri Hukum dan                                                                                                           Industri - Menteri Hukum dan
                                                                      Direktur Hak Cipta dan Desain                                                                                                                  Hak Asasi Manusia                                                                                                                      Hak Asasi Manusia
                                                                      Industri - Menteri Hukum dan                                                                                                               Director of Copyright and                                                                                                              Director of Copyright and
                                                                             Hak Asasi Manusia                                                                                                                Industrial Design - Minister of                                                                                                        Industrial Design - Minister of
                                                                         Director of Copyright and                                                                                                                Law and Human Rights                                                                                                                   Law and Human Rights
                                                                      Industrial Design - Minister of                                                                                                              Periode Sertifikasi /                                                                                                                  Periode Sertifikasi /
                                                                          Law and Human Rights                                                                                                                    Certification Period :                                                                                                                 Certification Period :
                                                                           Periode Sertifikasi /                                                                                                                  1 Juli 2024-1 Juli 2054                                                                                                                 23 November 2023 -
                                                                          Certification Period :                                                                                                               July 1st, 2024-July 1st, 2054                                                                                                               23 November 2073
                                                                          1 Juli 2024-1 Juli 2054                                                                                                                                                                                                                                                        November 23rd, 2023 -
                                                                       July 1st, 2024-July 1st, 2054                                                                                                                                                                                                                                                      November 23rd, 2073




                                                                                                                                                                                                                Keanggotaan Asosiasi
                                                                                                                                                                                                                Association Memberships

                                                                                                                                                                                                                     Asosiasi Pertambangan Batu Bara Indonesia
                                                                                                                                                                                                                     (APBI)
                                                                                                                                                                                                                     Indonesian Coal Mining Association (ICMA)

                                                                                                                                                                                                                     Skala Asosiasi / Scale of Association:
                                                                                                                                                                                                                     Nasional / National
                                                                                                                                                                                                                     Posisi Perseroan / Company Position:
   Surat Pencatatan Ciptaan           SNI ISO 45001:2018                  ISO 14001:2015                                                                                                                             Anggota / Member
   Buku Panduan/Petunjuk:           Occupational Health and                Environmental
    Karya Rekaman Video               Safety Management                 Management Systems
  atas Petunjuk Penggunaan                  System
    Kompor Briket Borneo                                                                                                                                                                                             Asosiasi Emiten Indonesia
           Indobara                   Penerima / Recipient :             Penerima / Recipient :                                                                                                                      Indonesian Public Listed Companies
    Registration Letter for            PT Borneo Indobara                  PT Borneo Indobara                                                                                                                        Association
    Creation of Guidebook/         Penyelenggara / Organizer :        Penyelenggara / Organizer :
Instructions: Video Recording      PT Superintending Company         PT Superintending Company of                                                                                                                    Skala Asosiasi / Scale of Association:
                                    of Indonesia (Sucofindo)              Indonesia (Sucofindo)
   Work on Instructions on                                                                                                                                                                                           Nasional / National
How to Use Borneo Indobara             Periode Sertifikasi /              Periode Sertifikasi /
        Briquette Stove               Certification Period :             Certification Period :                                                                                                                      Posisi Perseroan / Company Position:
                                        20 Februari 2025 -                  20 Februari 2025 -                                                                                                                       Anggota / Member
     Penerima / Recipient :
       PT Borneo Indobara               1 November 2027 /                   1 November 2027 /
                                       February 20th, 2025 -               February 20th, 2025 -
 Penyelenggara / Organizer :            November 1st, 2027                  November 1st, 2027
 Direktur Hak Cipta dan Desain                                                                                                                                                                                       Indonesian Corporate Secretary Association
 Industri - Menteri Hukum dan                                                                                                                                                                                        (ICSA)
        Hak Asasi Manusia
    Director of Copyright and
 Industrial Design - Minister of                                                                                                                                                                                     Skala Asosiasi / Scale of Association:
     Law and Human Rights                                                                                                                                                                                            Nasional / National
      Periode Sertifikasi /                                                                                                                                                                                          Posisi Perseroan / Company Position:
     Certification Period :                                                                                                                                                                                          Anggota / Member
      23 November 2023 -
       23 November 2073
     November 23rd, 2023 -
      November 23rd, 2073
                                                                                                                                                                                                                                                                                        Laporan Tahunan 2024 Annual Report                                                    9
Page 12
Laporan Manajemen




LAPORAN MANAJEMEN
Management Report

Laporan Dewan Komisaris
Report of the Board of Commissioners




 Lokita Prasetya
 Presiden Komisaris
 President Commissioner                Dewan Komisaris mengapresiasi kinerja solid Direksi di tengah tekanan
                                       industri dengan pencapaian operasional yang melampaui target dan
                                       pengelolaan keuangan yang efisien, serta mendorong kesinambungan
                                       strategi yang adaptif, digitalisasi, dan keberlanjutan untuk memperkuat
                                       daya saing di masa mendatang.
                                       The Board of Commissioners appreciates the Board of Directors’ solid
                                       performance, despite industry pressures, with operational achievements
                                       exceeding targets and efficient financial management, as well as encouraging
                                       continuous adaptive strategies, digitalization, and sustainability to
                                       strengthen competitiveness in the future.



Pemegang Saham dan Pemangku Kepentingan yang Terhormat,
Dear Shareholders and Stakeholders,

Pada tahun 2024, ketidakpastian global yang dipicu oleh dinamika   In 2024, the geopolitical dynamics, economic fluctuations,
geopolitik, fluktuasi ekonomi, serta perubahan kebijakan           and changes in energy policies in various countries triggered
energi di berbagai negara menjadi faktor yang memengaruhi          the global uncertainty affecting the mining industry.
industri pertambangan. Di tengah kondisi tersebut, Perseroan       Amidst these conditions, the Company remained resilient
terus menunjukkan ketangguhan melalui strategi yang adaptif,       through adaptive strategies, operational efficiency, and
efisiensi operasional, serta komitmen terhadap keberlanjutan.      a commitment to sustainability. With measurable risk
Dengan manajemen risiko yang terukur dan tata kelola yang          management and solid governance, the Company managed to
solid, Perseroan mampu merespons tantangan dengan                  respond to challenges with targeted strategic steps to maintain
langkah-langkah strategis yang terarah guna menjaga stabilitas     operational stability and business competitiveness. Such point
operasional dan daya saing usaha. Poin ini menjadi bagian          is a key part of the Board of Commissioners' Report, which is
penting dalam Laporan Dewan Komisaris yang disampaikan             submitted based on the supervision results of the Company's
berdasarkan hasil pengawasan terhadap kinerja Perseroan            performance throughout 2024, including an evaluation of the
selama tahun 2024, termasuk evaluasi atas pencapaian yang          achievements and recommendations to ensure sustainable
telah diraih serta rekomendasi untuk memastikan pertumbuhan        growth in the future.
yang berkelanjutan di masa mendatang.




 10       PT Golden Energy Mines Tbk
Page 13
                                                                                                                       Management Report




Penilaian terhadap Kinerja Direksi                                  Assessment of the Board of Directors’
                                                                    Performance

Dewan Komisaris menilai bahwa Direksi telah menjalankan             The Board of Commissioners assessed that the Board of
perannya dengan baik dalam menghadapi tantangan industri            Directors performed its role properly in facing industry
sepanjang tahun 2024. Perseroan mencatat produksi batu bara         challenges throughout 2024. The Company recorded coal
di tahun tersebut berhasil mencapai 50,69 juta ton, melampaui       production of 50.69 million tons, exceeding the target of 50.00
target sebesar 50,00 juta ton. Sementara itu, volume penjualan      million tons. Sales volume reached 51.86 million tons from the
mencapai 51,86 juta ton dari target 51,10 juta ton. Meskipun        target of 51.10 million tons. Although operations showed positive
pencapaian operasional menunjukkan hasil positif, tekanan           results, pressure from the decline in benchmark coal price
dari penurunan harga batu bara acuan (HBA) berkontribusi            (HBA) contributed to a revenue correction of 6.77% to USD2.71
pada koreksi pendapatan sebesar 6,77% menjadi USD2,71               billion. As such, profit for the year also decreased by 8.63% to
miliar. Sejalan dengan hal tersebut, laba tahun berjalan turut      USD483.13 million. Nonetheless, the efficiency measures taken
mengalami penurunan sebesar 8,63% menjadi USD483,13                 succeeded in reducing liabilities by 10.86% to USD578.45
juta. Namun, langkah efisiensi yang diterapkan berhasil             million, reflecting effective financial management amidst market
menekan liabilitas sebesar 10,86% menjadi USD578,45 juta,           challenges.
mencerminkan pengelolaan keuangan yang efektif di tengah
tantangan pasar.


Dari perspektif keberlanjutan, Direksi pun terus mendorong          From a sustainability perspective, the Board of Directors
investasi pada infrastruktur dan efisiensi operasional guna         continued to encourage investment in infrastructure
mempertahankan daya saing jangka panjang. Realisasi belanja         and operational efficiency, aiming to maintain long-term
modal dialokasikan secara efektif untuk peningkatan area            competitiveness. Capital expenditures are realized and allocated
stockpile, perbaikan jalan hauling, serta digitalisasi tambang      effectively to increase stockpile areas, repair hauling roads,
guna meningkatkan produktivitas. Komitmen terhadap praktik          and digitize mines to increase productivity. Commitment to
pertambangan berkelanjutan juga diperkuat, sebagaimana              sustainable mining practices is also strengthened, as reflected
tercermin dalam penggunaan energi terbarukan, reklamasi             in the use of renewable energy, land reclamation, and
lahan, serta penguatan program sosial bagi masyarakat sekitar       strengthening social programs for communities around the mine.
tambang. Selain itu, distribusi nilai bagi pemangku kepentingan     The Company also continued to generate value to stakeholders
melalui pembagian dividen dan pelaksanaan program                   through dividend distribution and conduct community
pemberdayaan masyarakat tetap dilaksanakan secara konsisten,        empowerment programs consistently, spending USD390.00
masing-masing sebesar USD390,00 juta dan USD6,07 juta.              million and USD6.07 million, respectively.


Dengan pertimbangan tersebut, Dewan Komisaris mengapresiasi         With such considerations, the Board of Commissioners appreciates
langkah-langkah strategis yang telah diterapkan Direksi, disertai   the strategic steps undertaken by the Board of Directors, along
proses evaluasi produksi dan distribusi serta kontrol biaya,        with the production and distribution evaluation process and
tanpa mengurangi target pertumbuhan produksi dan penjualan          cost control, without reducing the target for coal production
batu bara. Kami pun mendorong kesinambungan kebijakan               and sales growth. We also encourage the continuity of more
yang lebih adaptif, termasuk optimalisasi efisiensi operasional,    adaptive policies, including optimizing operational efficiency,
penguatan mitigasi risiko, serta peningkatan kepatuhan terhadap     strengthening risk mitigation, and increasing compliance with
regulasi, sehingga Perseroan dapat terus berkembang secara          regulations, thus, enabling the Company to grow sustainably
berkelanjutan di tengah dinamika industri yang fluktuatif.          amidst fluctuating industry dynamics.



Pengawasan terhadap Perumusan dan                                   Supervision of Strategy Formulation and
Implementasi Strategi                                               Implementation

Dewan Komisaris secara aktif mengawasi perumusan dan                The Board of Commissioners ensures alignment with long-
implementasi strategi Perseroan guna memastikan keselarasan         term vision and resilience amidst industry dynamics by
dengan visi jangka panjang serta ketahanan di tengah dinamika       actively overseeing the Company's strategy formulation and
industri. Melalui rapat gabungan dengan Direksi, Dewan              implementation. Through joint meetings with the Board of
Komisaris menelaah efektivitas kebijakan yang diterapkan,           Directors, the Board of Commissioners reviews the effectiveness
mengevaluasi pencapaian terhadap Rencana Kerja dan Anggaran         of implemented policies, evaluates achievements against the
Biaya (RKAB), serta memastikan strategi operasional, ekspansi,      Work Plan and Budget (RKAB), and ensures that operational,
dan efisiensi biaya dijalankan sesuai regulasi dan prinsip          expansion, and cost efficiency strategies are implemented
keberlanjutan. Pengawasan juga mencakup aspek operasional,          pursuant to regulations and sustainability principles. Supervision




                                                                                             Laporan Tahunan 2024 Annual Report   11
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Laporan Manajemen




keselamatan kerja, lingkungan, serta tanggung jawab sosial             covers operational, occupational safety, environmental, and
guna memastikan bahwa setiap langkah strategis tidak hanya             social responsibility aspects to ensure that each strategic step
mendukung kinerja keuangan, tetapi juga memperkuat daya                not only supports financial performance, but also strengthens the
saing dan kontribusi Perseroan terhadap pembangunan industri           Company's competitiveness and contribution to more sustainable
yang lebih berkelanjutan dan bertanggung jawab.                        and responsible industrial development.



Pandangan atas Penerapan Tata Kelola                                   Views on the Implementation of Good
Perusahaan yang Baik dan Berkelanjutan                                 and Sustainable Corporate Governance

Dewan Komisaris menilai bahwa Perseroan telah menerapkan               The Board of Commissioners views that the Company consistently
prinsip tata kelola perusahaan yang baik dan berkelanjutan             applies the principles of good and sustainable corporate
secara konsisten sesuai dengan standar internasional, seperti          governance in line with international standards, such as ISO
ISO 26000, serta ketentuan yang ditetapkan oleh Kementerian            26000, as well as the provisions set by the Ministry of Energy and
Energi dan Sumber Daya Mineral. Penguatan aspek governansi,            Mineral Resources. Governance aspects, which include ethics,
yang mencakup etika, transparansi, akuntabilitas, dan                  transparency, accountability, and sustainability, are strengthened
keberlanjutan, diwujudkan melalui kebijakan strategis yang             through measurable strategic policies. The Company also
terukur. Perseroan juga terus mengembangkan berbagai                   develops various initiatives to minimize environmental impacts,
inisiatif untuk meminimalkan dampak lingkungan, antara lain            including through electrification of mining equipment,
melalui elektrifikasi peralatan tambang, optimalisasi energi           optimization of clean energy, post-mining land rehabilitation,
bersih, rehabilitasi lahan pascatambang, serta konservasi              and biodiversity conservation.
keanekaragaman hayati.


Dengan sistem tata kelola yang semakin kuat dan praktik                With stronger governance system and responsible business
bisnis yang bertanggung jawab, Dewan Komisaris meyakini                practices, the Board of Commissioners believes that the Company
bahwa Perseroan dapat terus tumbuh secara berkelanjutan                can continue to grow sustainably by prioritizing the principle of
dengan mengedepankan prinsip kehati-hatian dan kepatuhan               prudence and compliance with applicable regulations. This is
terhadap regulasi yang berlaku. Hal ini diharapkan tidak hanya         expected to not only maintain a balance among economic, social,
menjaga keseimbangan antara kepentingan ekonomi, sosial,               and environmental interests, but also strengthen competitiveness
dan lingkungan, tetapi juga memperkuat daya saing serta                and provide long-term benefits for all stakeholders.
memberikan manfaat jangka panjang bagi seluruh pemangku
kepentingan.



Pandangan atas Prospek Usaha                                           Views on Business Outlook

Dewan Komisaris memandang bahwa tahun 2025 akan menjadi                The Board of Commissioners views that 2025 will be a challenging
periode yang penuh tantangan bagi industri batu bara, seiring          year for the coal industry, along with global economic uncertainty
dengan ketidakpastian ekonomi global akibat faktor geopolitik,         due to geopolitical factors, protectionist trade policies,
kebijakan perdagangan proteksionis, serta percepatan transisi          and acceleration of energy transition. Although global coal
energi. Meskipun permintaan batu bara global diperkirakan mulai        demand is projected to slow, Indonesia still has strategic
melambat, Indonesia tetap memiliki peluang strategis dengan            opportunities with a national coal production target of 740
target produksi batu bara nasional mencapai 740 juta ton,              million tons, supported by relatively high domestic demand from
didukung oleh kebutuhan domestik dari sektor kelistrikan,              electricity sector, smelter industry, and coal downstreaming.
industri smelter, dan hilirisasi batu bara yang masih tinggi.


Dalam menghadapi dinamika regulasi dan volatilitas pasar,              In facing regulatory dynamics and market volatility, the Board
Dewan Komisaris menilai bahwa strategi yang dirumuskan                 of Commissioners considers that the strategies formulated
Direksi,   termasuk      optimalisasi       efisiensi   operasional,   by the Board of Directors, including optimizing operational
percepatan digitalisasi pertambangan, serta penguatan praktik          efficiency, accelerating mining digitalization, and strengthening
keberlanjutan, merupakan langkah yang tepat untuk menjaga              sustainability practices, are the right steps to maintain the
daya saing Perseroan. Selain itu, diversifikasi pasar ekspor menjadi   Company's competitiveness. Furthermore, export market
aspek krusial dalam menghadapi perubahan kebijakan energi              diversification is a crucial aspect in facing changes in global
global. Dengan pendekatan yang terarah dan disiplin eksekusi           energy policy. With a targeted approach and high execution
yang tinggi, serta kemampuan Direksi yang telah teruji dalam           discipline, as well as the Board of Directors' proven ability to
mengatasi tantangan selama beberapa tahun terakhir, Dewan              overcome challenges over the past few years, the Board of
Komisaris optimis bahwa Perseroan mampu mempertahankan                 Commissioners is optimistic that the Company can maintain




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                                                                                                                        Management Report




kinerja yang solid dan berkontribusi terhadap ketahanan energi      solid performance and contribute to national energy security.
nasional. Dewan Komisaris pun mendorong Direksi untuk tetap         The Board of Commissioners also encourages the Board of
aktif melakukan eksplorasi pangsa pasar baru serta semakin          Directors to remain active in exploring new market shares and to
cerdik dalam menghadapi fluktuasi harga energi dan harga            be increasingly smart in dealing with fluctuations in energy prices
jual batu bara guna memperkuat ketahanan bisnis Perseroan di        and coal selling prices in order to strengthen the Company's
tengah ketidakpastian.                                              business resilience amidst uncertainty.



Apresiasi                                                           Appreciation

Keberhasilan Perseroan dalam menghadapi tantangan industri          The Company's success in facing industry challenges and
dan mempertahankan kinerja yang solid tidak terlepas dari kerja     maintaining solid performance is highly related to the hard work
keras serta dedikasi Direksi, manajemen, dan seluruh karyawan.      and dedication of the Board of Directors, management, and all
Setiap upaya yang telah dicurahkan mencerminkan komitmen            employees. Every effort made reflects a strong commitment to
kuat dalam menjalankan strategi dan menjaga keberlanjutan           implementing strategies and maintaining business sustainability.
usaha. Dukungan dari Pemegang Saham, mitra bisnis, serta            Support from Shareholders, business partners, and various other
berbagai pemangku kepentingan lainnya juga menjadi elemen           stakeholders is also a crucial element in the Company's journey.
krusial dalam perjalanan Perseroan. Oleh karena itu, apresiasi      Therefore, we would like to extend our highest appreciation to all
yang setinggi-tingginya diberikan kepada semua pihak yang           contributing parties, and hope that the synergy established can
telah berkontribusi, dengan harapan sinergi yang telah terbentuk    further be strengthened for sustainable growth and continuous
dapat terus diperkuat demi pertumbuhan yang berkelanjutan dan       added value.
nilai tambah yang berkesinambungan.




                                     Atas nama Dewan Komisaris PT Golden Energy Mines Tbk,
                              On behalf of the Board of Commissioners of PT Golden Energy Mines Tbk,




                                                       Lokita Prasetya
                                            Presiden Komisaris / President Commissioner




                                                                                              Laporan Tahunan 2024 Annual Report   13
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Laporan Manajemen




Laporan Direksi
Report of the Board of Directors




 Bonifasius
 Presiden Direktur
 President Director                    Di tengah tekanan global akibat transisi energi, fluktuasi harga batu bara, dan
                                       ketatnya regulasi, Perseroan berhasil mempertahankan kinerja operasional yang
                                       solid dengan produksi dan penjualan melampaui target serta strategi efisiensi
                                       dan keberlanjutan yang adaptif. Direksi optimis menghadapi 2025 dengan
                                       memperkuat digitalisasi, diversifikasi pasar ekspor, dan praktik pertambangan
                                       berkelanjutan untuk menjaga daya saing dan ketahanan usaha.
                                       Amid global pressures due to energy transition, coal price fluctuations, and tight
                                       regulations, the Company has managed to maintain solid operational performance
                                       with production and sales exceeding targets, adaptive efficiency, and sustainability
                                       strategies. The Board of Directors is optimistic in facing 2025 by strengthening
                                       digitalization, export market diversification, and sustainable mining practices to
                                       maintain competitiveness and business resilience.



Pemegang Saham dan Pemangku Kepentingan yang Terhormat,
Dear Shareholders and Stakeholders,

Tahun 2024 diwarnai oleh dinamika ekonomi global yang              The global economic dynamics posed a challenge throughout
menantang di tengah ketidakpastian geopolitik dan perlambatan      2024 amid geopolitical uncertainty and slowing economic
pertumbuhan ekonomi di beberapa negara maju. Perekonomian          growth in several developed countries. The world economy was
dunia masih berada dalam fase pemulihan, dengan pertumbuhan        still in the recovery phase, with different growth across regions.
yang bervariasi di berbagai kawasan. Amerika Serikat dan Uni       The United States and the European Union experienced an
Eropa mengalami perlambatan ekonomi akibat kebijakan               economic slowdown due to tight monetary policies and a shift
moneter yang ketat serta pergeseran menuju energi terbarukan,      towards renewable energy, impacting the commodity-based
yang berdampak pada sektor industri berbasis komoditas.            industrial sector. Meanwhile, Asia remained the engine of global
Sementara itu, Asia tetap menjadi motor pertumbuhan global,        growth, with China and India as the main drivers of energy demand,
dengan Tiongkok dan India sebagai pendorong utama permintaan       including coal. Domestically, Indonesia's economic growth was
energi, termasuk batu bara. Di dalam negeri, pertumbuhan           slightly slowing with Gross Domestic Product (GDP) growth
ekonomi Indonesia mengalami sedikit pelambatan dengan              of 5.03%, a slight decrease from 5.05% in the previous year.
Produk Domestik Bruto (PDB) yang tumbuh sebesar 5,03%,             The mining sector continued to make a significant contribution
turun tipis dari 5,05% pada tahun sebelumnya. Adapun sektor        by contributing around 12% to total GDP, confirming its role as
pertambangan terus memberikan kontribusi signifikan dengan         one of the main pillars of the national economy.
menyumbang sekitar 12% terhadap total PDB, menegaskan
perannya sebagai salah satu pilar utama ekonomi nasional.




 14       PT Golden Energy Mines Tbk
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Pasar batu bara global tahun 2024 yang masih didominasi               The global coal market in 2024, dominated by demand from
oleh permintaan dari Tiongkok dan India tetap menunjukkan             China and India, remained resilient amid structural changes
ketahanan di tengah perubahan struktural menuju transisi              towards an energy transition. However, India experienced a
energi. Namun, India mengalami sedikit penurunan konsumsi             slight decline in consumption along with increasing domestic
seiring dengan meningkatnya produksi domestik, yang kini              production, which is now more open to the private sector.
semakin terbuka bagi pihak swasta. Di sisi lain, kebijakan transisi   On the other hand, energy transition policies in the United States
energi di Amerika Serikat dan Uni Eropa menyebabkan penurunan         and the European Union caused coal consumption to decline by
konsumsi batu bara sebesar 12% dan 5% secara berturut-turut.          12% and 5%, respectively. Nevertheless, global coal consumption
Meskipun demikian, konsumsi batu bara secara global tetap             remained high, driven by increasing electricity demand in Asia.
tinggi, didorong oleh kebutuhan listrik yang meningkat di Asia.       In Indonesia, coal production realization reached 836 million
Adapun di Indonesia, realisasi produksi batu bara mencapai            tons or 117% of the target, with 555 million tons exported and
836 juta ton atau 117% dari target yang ditetapkan, dengan 555        233 million tons allocated for Domestic Market Obligation (DMO).
juta ton diekspor dan 233 juta ton dialokasikan untuk kebutuhan       The reference coal price (HBA) was volatile throughout the year,
domestik (Domestic Market Obligation/DMO). Harga batu bara            ranging from USD109.77 per ton to USD131.77 per ton, reflecting
acuan (HBA) mengalami volatilitas sepanjang tahun, dengan             competitive market dynamics.
kisaran antara USD109,77 per ton hingga USD131,77 per ton,
mencerminkan dinamika pasar yang tetap kompetitif.

Di tengah lanskap industri yang penuh tantangan ini,                  Amid this challenging industrial landscape, the Company
Perseroan menunjukkan ketahanan dan adaptabilitas yang                demonstrated high resilience and adaptability. The Company
tinggi. Perseroan terus mempertahankan kinerja operasional            maintained solid operational performance, resulting in an
yang solid dengan peningkatan volume produksi dan penjualan           increase in production and sales volume of 10% compared
sebesar 10% dibandingkan tahun sebelumnya. Strategi bisnis            to that of the previous year. The Company applied business
yang berorientasi pada optimalisasi operasional dan pasar telah       strategies oriented towards operational and market optimization,
memungkinkan Perseroan untuk tetap kompetitif di tengah               thus, remaining competitive amidst fluctuating coal prices.
fluktuasi harga batu bara. Diperkuat dengan visi terpadu,             Strengthened by an integrated vision, the Company continues to
Perseroan terus menjalankan usaha dengan terus berinovasi             run its business by innovations and developments of sustainability
dan mengembangkan strategi keberlanjutan. Laporan Tahunan             strategies. This Annual Report will further review various aspects
ini akan mengulas lebih lanjut berbagai aspek kinerja Perseroan       of the Company's performance in 2024, including strategies
selama tahun 2024, termasuk strategi yang diterapkan dalam            implemented in facing industry dynamics, key achievements, and
menghadapi dinamika industri, pencapaian utama, serta arah            the direction of sustainable business development.
pengembangan usaha yang berkelanjutan.



Tantangan dan Strategi Perseroan                                      Challenges and Strategies

Sepanjang tahun 2024, Perseroan menghadapi berbagai                   In 2024, the Company faced a range of challenges in running
tantangan dalam menjalankan operasionalnya. Dari sisi global,         its operations. From a global perspective, these significant
dinamika ekonomi yang dipengaruhi oleh kebijakan transisi             challenges emerged from economic dynamics influenced
energi serta fluktuasi harga batu bara memberikan tantangan           by energy transition policies and fluctuations in coal prices.
yang signifikan. HBA Indonesia bahkan turun signifikan pada           Indonesia's HBA even fell significantly to USD114.06 per ton
bulan Mei menjadi USD114,06 per ton, bulan Agustus menjadi            in May, to USD115.29 per ton in August, and to USD114.43
USD115,29 per ton, dan bulan November menjadi USD114,43               per ton in November. Consequently, the Company must be
per ton. Hal ini menuntut Perseroan untuk lebih cermat dan            more careful and adaptive in designing business strategies.
adaptif dalam merancang strategi bisnis. Selain itu, tingkat          Furthermore, the fairly high rainfall levels at the beginning of the
curah hujan yang cukup tinggi di awal tahun turut memberikan          year were a challenge to mining operations, especially on hauling
tantangan tersendiri terhadap operasional pertambangan,               road infrastructure as the main route for coal distribution.
terutama pada infrastruktur jalan hauling yang menjadi jalur          However, with the right anticipatory steps, the Company managed
utama distribusi batu bara. Namun, dengan langkah antisipatif         to maintain production stability and achieve the targets set.
yang tepat, Perseroan berhasil menjaga stabilitas produksi dan
mencapai target yang telah ditetapkan.

Tantangan lainnya muncul dari semakin ketatnya regulasi di            Another challenge arises from the growing stringent national
tingkat nasional dan internasional terkait aspek keberlanjutan.       and international regulations on sustainability aspects.
Penerapan standar baru seperti IFRS (International Financial          The adoption of new standards, such as IFRS (International
Reporting Standards) yang mengintegrasikan laporan keuangan           Financial Reporting Standards), which integrate financial
dengan aspek keberlanjutan menuntut Perseroan untuk lebih             statements with sustainability aspects, requires the Company's
proaktif dalam menyesuaikan kebijakan operasional dan                 proactive adjustment of operational policies to ensure that
memastikan praktik bisnis tetap selaras dengan ekspektasi             business practices remain in line with investor and stakeholder
investor serta pemangku kepentingan.                                  expectations.



                                                                                                Laporan Tahunan 2024 Annual Report   15
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Laporan Manajemen




Untuk menjawab tantangan tersebut, Perseroan menerapkan               To address these challenges, the Company applies
strategi yang komprehensif guna memastikan keberlanjutan bisnis       comprehensive strategies to ensure business sustainability
dan daya saing di industri. Evaluasi dan pengelolaan biaya produksi   and competitiveness in the industry. Production costs are
terus diperkuat guna menjaga efisiensi tanpa mengorbankan             continuously evaluated and managed to strengthen efficiency
target pertumbuhan. Digitalisasi pertambangan juga semakin            without sacrificing growth targets. Mining digitalization is also
dioptimalkan melalui pemanfaatan Command Center untuk                 further optimized by using the Command Center for real-time
pemantauan real-time serta implementasi Weigh in Motion (WIM)         monitoring and Weigh in Motion (WIM) for productivity increase
guna meningkatkan produktivitas dan menekan emisi karbon.             and carbon emissions reduction. The Company also continues
Selain itu, investasi dalam infrastruktur dan sarana tambang          to invest in mining infrastructure and facilities to enhance
terus dilakukan untuk menunjang operasional yang lebih optimal.       operational efficiency. Human resource development remains a
Pengembangan sumber daya manusia juga menjadi prioritas               priority through structured training for employees and partners.
melalui pelatihan yang terstruktur bagi karyawan dan mitra kerja.     In terms of expansion, the Company is diversifying its export
Dari sisi ekspansi, Perseroan memperluas pasar ekspor guna            market to reduce dependence on China and India, while adhering
mengurangi ketergantungan pada Tiongkok dan India, sekaligus          to a financial policy rooted in prudence and oriented towards cost
mempertahankan kebijakan keuangan berdasarkan asas kehati-            leadership. This approach enables the Company to strengthen its
hatian dan berorientasi pada cost leadership. Dengan strategi         competitiveness and ensure business sustainability amidst the
ini, Perseroan terus memperkuat daya saing dan memastikan             evolving dynamics of the coal industry.
keberlanjutan usaha di tengah dinamika industri batu bara.



Peranan Direksi dalam Perumusan dan                                   Board of Directors’ Role in the
Implementasi Strategi Perseroan                                       Formulation and Implementation of the
                                                                      Company’s Strategy

Di tengah dinamika dan ketidakpastian ekonomi global maupun           Amidst the global and national economic dynamics and
nasional, Direksi memastikan strategi Perseroan tetap solid,          uncertainties, the Board of Directors ensures that the Company's
konstruktif, dan adaptif dalam menyikapi peluang serta menghadapi     strategy remains solid, constructive, and adaptive in leveraging
tantangan. Strategi ini dituangkan dalam Rencana Kerja dan            opportunities and facing challenges. This strategy is outlined
Anggaran Biaya (RKAB) yang disusun dengan mempertimbangkan            in the Work Plan and Budget (RKAB), which is prepared by
kondisi ekonomi mikro dan makro, serta kompleksitas usaha.            considering micro and macroeconomic conditions, as well as
Adapun implementasi kebijakan dijalankan dengan kecermatan            business complexity. The policy is carried out with precision and
dan ketepatan, mencakup optimalisasi biaya produksi, digitalisasi     accuracy, by optimizing production costs, mining digitalization,
tambang, serta inovasi keberlanjutan guna menjaga daya saing.         and sustainable innovation to maintain competitiveness.
Secara berkala, Direksi melakukan evaluasi terhadap implementasi      The Board of Directors regularly evaluates the strategy to ensure
strategi tersebut untuk memastikan pencapaian target kinerja yang     achievement of optimal and sustainable performance targets
optimal dan berkelanjutan bagi seluruh pemangku kepentingan.          for all stakeholders.



Kinerja Usaha dan Pencapaian Target                                   Business Performance and Target
                                                                      Achievements

Sebagai hasil dari penerapan strategi yang adaptif dan manajemen      By performing adaptive strategies and strong management, the
yang kuat, Perseroan menunjukkan kinerja operasional yang             Company demonstrated solid operational performance with
solid dengan pencapaian produksi dan penjualan yang sesuai            production and sales achievements exceeding in accordance with
dengan target yang telah ditetapkan. Produksi batu bara men           the set targets. Coal production reached 50.69 million tons, while
capai 50,69 juta ton dan volume penjualan sebesar 51,86 juta ton.     sales volume reached 51.86 million tons. This success reflects
Keberhasilan ini mencerminkan efektivitas strategi operasional        the Company’s effective operational strategy and resource
dan optimalisasi sumber daya yang diterapkan oleh Perseroan.          optimization. However, the HBA dynamics, which was declining
Namun, dinamika HBA yang cenderung menurun sepanjang                  throughout the year, put pressure on financial performance.
tahun memberikan tekanan terhadap kinerja keuangan.                   Although production and sales volumes increased, the lower
Meskipun volume produksi dan penjualan meningkat, rata-               average selling price resulted in a decrease in operating revenues
rata harga jual yang lebih rendah berdampak pada penurunan            of 6.77%, to USD2.71 billion from USD2.90 billion in 2023.
pendapatan usaha sebesar 6,77%, menjadi USD2,71 miliar dari
USD2,90 miliar di tahun 2023.

Di tengah tekanan harga komoditas, Perseroan tetap menjaga            Amid commodity price pressures, the Company maintained
struktur keuangan yang sehat dan terkendali. Total aset tercatat      a sound and controlled financial structure. Total assets were
sebesar USD1,24 miliar, mengalami sedikit penurunan sebesar           recorded at USD1.24 billion, a slight decrease of 5.52% from
5,52% dari tahun sebelumnya yang mencapai USD1,31 miliar.             the previous year of USD1.31 billion. However, on the other
Namun, di sisi lain, Perseroan berhasil mengurangi liabilitas         hand, the Company managed to reduce its liability by 10.86%,
sebesar 10,86%, dari USD648,93 juta pada tahun 2023 menjadi           from USD648.93 million in 2023 to USD578.45 million in 2024,

 16       PT Golden Energy Mines Tbk
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USD578,45 juta pada tahun 2024, mencerminkan upaya strategis        reflecting strategic efforts in managing financial obligations.
dalam pengelolaan kewajiban finansial. Meskipun terdapat            Despite an increase in operating expenses of 2.68%, the
peningkatan beban usaha sebesar 2,68%, efisiensi yang diterapkan    Company’s efficiency remained a key role in maintaining
Perseroan tetap berperan dalam menjaga stabilitas operasional.      operational stability. Challenges of commodity price fluctuations
Koreksi laba tahun berjalan sebesar 8,63%, dari USD528,75 juta      caused a 8.63% correction of the profit for the year, from
menjadi USD483,13 juta, mencerminkan tantangan dari fluktuasi       USD528.75 million to USD483.13 million. Nonetheless, this
harga komoditas yang berdampak pada profitabilitas. Namun,          achievement still shows the Company's business resilience in
pencapaian ini tetap menunjukkan ketahanan bisnis Perseroan         facing challenging market dynamics.
dalam menghadapi dinamika pasar yang menantang.

Dalam rangka mendukung keberlanjutan kinerja operasional,           To support operational performance sustainability, the
Perseroan terus berinvestasi pada peningkatan infrastruktur         Company continues to invest in infrastructure and operational
dan optimalisasi usaha. Sepanjang tahun 2024, Perseroan             improvements. In 2024, the Company allocated capital
merealisasikan belanja modal yang diarahkan pada peningkatan        expenditures for expanding stockpile areas, improving hauling
area stockpile, perbaikan kualitas jalan hauling, serta penerapan   road quality, and implementing mining digitalization projects to
proyek digitalisasi tambang untuk meningkatkan produktivitas        increase productivity and efficiency. The Company also reaffirms
dan efisiensi. Selain itu, Perseroan juga memperkuat komitmen       its commitment to sustainable mining practices by utilizing
terhadap praktik pertambangan yang berkelanjutan melalui            renewable energy in mining operations, land reclamation
penggunaan energi terbarukan di area tambang, program               programs with carbon-absorbing vegetation, and strengthening
reklamasi lahan dengan penanaman vegetasi untuk menyerap            local community engagement through social responsibility
karbon, serta penguatan keterlibatan masyarakat lokal melalui       programs, such as Potable Andaru Program, which provides
program tanggung jawab sosial, seperti Program Potable Andaru       clean drinking water access for the surrounding communities.
yang menyediakan akses air minum bersih bagi masyarakat sekitar     These strategic steps have supported the Company's business
tambang. Langkah-langkah strategis tersebut telah mendukung         stability while delivering tangible benefits to stakeholders.
stabilitas bisnis Perseroan sekaligus memberikan kontribusi nyata
bagi para pemangku kepentingan.



Penerapan Tata Kelola Perusahaan yang                               Implementation of Good and Sustainable
Baik dan Berkelanjutan                                              Corporate Governance

Sebagai perusahaan yang beroperasi di sektor pertambangan,          As a company operating in the mining sector, the Company
Perseroan menempatkan tata kelola yang baik dan berkelanjutan       prioritizes good and sustainable governance as the main
sebagai landasan utama dalam menjalankan usaha. Dengan              foundation in its business. Given its direct impact on the
interaksi langsung terhadap lingkungan dan keanekaragaman           environment and biodiversity, the Company ensures that all
hayati, Perseroan memastikan bahwa setiap kebijakan dan             policies and operations align with conservation principles
operasional sejalan dengan prinsip konservasi dan standar           and international standards, including ISO 26000 and the
internasional, termasuk ISO 26000 dan regulasi Kementerian          regulations of the Ministry of Energy and Mineral Resources.
ESDM. Bahkan sejak tahun 2023, pengangkatan Head of                 Since 2023, the appointment of the Head of Sustainability has
Sustainability telah memperkuat koordinasi dalam menerapkan         strengthened coordination in implementing governance pillars,
pilar governansi, yakni perilaku beretika, transparansi,            which are ethical behavior, transparency, accountability, and
akuntabilitas, dan keberlanjutan, guna menjaga keseimbangan         sustainability, ensuring preservation of the ecosystem while
ekosistem serta harapan pemangku kepentingan.                       meeting stakeholder expectations.

Perseroan juga terus berinovasi untuk mengurangi dampak             The Company constantly innovates to reduce environmental
lingkungan,    termasuk      melalui    elektrifikasi  peralatan    impacts, including through electrification of mining equipment,
tambang, pemanfaatan energi bersih, serta rehabilitasi lahan        utilization of clean energy, and post-mining land rehabilitation.
pascatambang. Upaya konservasi keanekaragaman hayati                Biodiversity conservation efforts are part of the sustainability
menjadi bagian dari strategi keberlanjutan, dengan perlindungan     strategy to protect flora and fauna in affected areas. Each step
flora dan fauna di area terdampak. Setiap langkah dirancang         is designed with measurable targets, aiming to not only increase
dengan target terukur agar tidak hanya meningkatkan daya            business competitiveness, but to also create long-term value
saing usaha, tetapi juga menciptakan nilai jangka panjang bagi      for the environment and society. With strong governance, the
lingkungan dan masyarakat. Dengan tata kelola yang kokoh,           Company is committed to sustainable and responsible growth.
Perseroan berkomitmen untuk tumbuh secara berkelanjutan dan
bertanggung jawab.



Prospek Usaha Tahun 2025                                            Business Outlook for 2025

Perseroan menyadari bahwa tahun 2025 akan menjadi periode           The Company recognizes that 2025 will be a challenging year
yang penuh tantangan, di tengah ketidakpastian ekonomi global       filled with global economic uncertainty, triggered by geopolitical

                                                                                             Laporan Tahunan 2024 Annual Report   17
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Laporan Manajemen




yang dipicu oleh dinamika geopolitik, kebijakan perdagangan               dynamics, protectionist trade policies, and the intensifying
proteksionis, serta transisi energi yang semakin intensif. Proyeksi       energy transition. The International Monetary Fund’s revised the
pertumbuhan ekonomi global yang direvisi menjadi 3,2% oleh                global economic growth forecast to 3.2%, reflecting pressure on
Dana Moneter Internasional mencerminkan adanya tekanan                    global economic activity. In the coal sector, global demand is
terhadap aktivitas ekonomi dunia. Di sektor batu bara, permintaan         expected to slow down due to the shift towards renewable energy,
global diperkirakan mulai mengalami perlambatan akibat                    especially in China and Europe. Nevertheless, Indonesia continues
pergeseran menuju energi terbarukan, terutama di Tiongkok dan             to offer strategic opportunities, with a national coal production
Eropa. Meskipun demikian, Indonesia tetap memiliki peluang                target of 735 million tons for 2025, of which 240 million tons
strategis dengan target produksi batu bara nasional sebesar               are allocated for domestic consumption and 500 million tons
735 juta ton pada 2025, di mana 240 juta ton dialokasikan untuk           are intended for export. Domestic demand is expected to remain
konsumsi domestik, sementara 500 juta ton ditujukan untuk                 strong, driven by the electricity sector, smelter industry, and the
ekspor. Kebutuhan domestik diperkirakan tetap kuat, didorong              ongoing development of coal downstreaming.
oleh sektor kelistrikan, industri smelter, serta hilirisasi batu bara
yang terus berkembang.

Dalam menghadapi tantangan regulasi, termasuk kebijakan                   In response to regulatory challenges, including the export
HBA ekspor, kewajiban penempatan Devisa Hasil Ekspor (DHE),               HBA policy, the obligation to place Export Proceeds (DHE),
serta transisi penggunaan bahan bakar B40, Perseroan telah                and the transition to B40 fuel use, the Company has prepared
menyiapkan strategi yang terarah untuk menjaga daya saing                 a targeted strategy to maintain its competitiveness and business
dan keberlanjutan usaha. Perseroan akan terus mengoptimalkan              sustainability. The Company will continue to optimize operational
efisiensi operasional melalui pengendalian biaya produksi,                efficiency through cost control, accelerating mining digitalization,
mempercepat digitalisasi pertambangan, serta meningkatkan                 and promoting sustainable mining practices. Furthermore, export
praktik pertambangan berkelanjutan. Selain itu, diversifikasi             market diversification remains a top agenda to anticipate shifts
pasar ekspor tetap menjadi agenda utama guna mengantisipasi               in global energy and international trade policies. With such mix
perubahan kebijakan energi global dan kebijakan perdagangan               of strategies, the Company is optimistic in its ability to maintain
internasional. Dengan kombinasi strategi tersebut, Perseroan              solid performance and contribute to national energy security
optimis dapat menjaga kinerja yang solid dan berkontribusi                amidst changes in the global coal industry landscape.
terhadap ketahanan energi nasional di tengah perubahan lanskap
industri batu bara global.



Apresiasi                                                                 Appreciation

Demikian laporan pengelolaan Perseroan untuk tahun buku                   Lastly, the Board of Directors herewith has presented the
2024 ini disampaikan. Direksi mengucapkan terima kasih                    Company's management report for the 2024 financial
atas kepercayaan yang senantiasa diberikan oleh Pemegang                  year, and would like to express its sincere gratitude for the
Saham serta arahan dan pengawasan Dewan Komisaris yang                    trust given by the Shareholders as well as the constructive
konstruktif dalam memastikan jalannya strategi usaha yang                 direction and supervision by the Board of Commissioners in
optimal. Apresiasi setinggi-tingginya juga diberikan kepada               ensuring the implementation of optimal business strategies.
seluruh karyawan atas dedikasi, kerja keras, dan komitmennya              The Board of Directors also expresses its highest appreciation to
dalam menjaga kinerja Perseroan di tengah dinamika industri               all employees for their dedication, hard work, and commitment
yang penuh tantangan. Dukungan dari mitra bisnis, pelanggan,              in sustaining the Company's performance amidst the challenging
dan pemangku kepentingan lainnya turut berperan dalam                     industry dynamics. Support from business partners, customers,
memperkuat posisi Perseroan sebagai perusahaan tambang                    and other stakeholders also plays a role in strengthening the
yang berdaya saing dan berkelanjutan. Dengan fondasi yang                 Company's position as a competitive and sustainable mining
semakin kokoh, Perseroan berkomitmen untuk terus berinovasi,              company. With a solid foundation, the Company is committed to
mengoptimalkan potensi, serta menciptakan nilai jangka panjang            driving innovation, optimizing potency, and creating long-term
bagi seluruh pemangku kepentingan.                                        value for all stakeholders.




                                             Atas nama Direksi PT Golden Energy Mines Tbk,
                                    On behalf of the Board of Directors of PT Golden Energy Mines Tbk,




                                                                Bonifasius
                                                    Presiden Direktur / President Director




 18       PT Golden Energy Mines Tbk
Page 21
                                                                                                                                Company Profile




PROFIL PERUSAHAAN
Company’s Profile

Identitas Perusahaan
Company Identity

                                                                                                              Perusahaan Terbuka.
   PT Golden Energy Mines Tbk                                                    Status Perusahaan
                                                                                 Company Status               Public Company.


                          Pertambangan batu bara, melalui Entitas                                             13 Maret 1997 dengan nama
     Bidang Usaha         Anak, dan perdagangan batu bara.                       Tanggal Pendirian            PT Bumi Kencana Eka Sakti.
     Business Sector      Coal mining through Subsidiaries, and                  Date of Incorporation        March 13th, 1997, under the name
                          coal trading.                                                                       PT Bumi Kencana Eka Sakti.

                          Akta Pendirian No. 81 tanggal 13 Maret 1997 yang dibuat di hadapan Notaris Imam Santoso, SH, serta telah
                          disahkan oleh Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No. C2-7.922HT.01.01.TH.98
     Dasar Hukum          tanggal 30 Juni 1998 dan telah diumumkan pada Berita Negara Republik Indonesia No. 30 tanggal 12 April 2002,
     Pendirian            Tambahan No. 3667.
     Legal Basis of       Deed of Incorporation No. 81 dated March 13th, 1997, made before Notary Imam Santoso, SH, and has been ratified
     Incorporation
                          by the Minister of Justice of the Republic of Indonesia through the Decree No. C2-7.922HT.01.01.TH.98 dated June
                          30th, 1998, and has been announced in the State Gazette of the Republic of Indonesia No. 30 dated April 12th, 2002,
                          Supplement No. 3667.

                          Perseroan berubah nama menjadi PT Golden Energy Mines Tbk pada 16 November 2010 dalam rangka initial public
     Perubahan Nama       offering (IPO) sesuai dengan kegiatan usaha utama Perseroan di bidang energi dan batu bara.
     Change of Name       The Company changed its name to PT Golden Energy Mines Tbk on November 16th, 2010, for the purpose of initial
                          public offering (IPO) in accordance with the main business activities of the Company in the field of energy and coal.

                          Akta No. 43 tanggal 16 November 2010 yang dibuat di hadapan Notaris Linda Herawati, SH, serta telah disahkan
                          oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Surat Keputusan No. AHU-54931.AH.01.02.
     Dasar Hukum          Tahun 2010 tanggal 18 November 2010 dan telah diumumkan pada Berita Negara Republik Indonesia No. 26 tanggal
     Perubahan Nama       30 Maret 2012, Tambahan No. 14082.
     Legal Basis for      Deed No. 43 dated November 16th, 2010, made before Notary Linda Herawati, SH, and has been ratified by the
     Change of Name
                          Minister of Law and Human Rights of the Republic of Indonesia through the Decree No. AHU-54931.AH.01.02. Tahun
                          2010 dated November 18th, 2010, and has been announced in the State Gazette of the Republic of Indonesia No. 26
                          dated March 30th, 2012, Supplement No. 14082.

                          Akta No. 130 tanggal 16 Mei 2024 dari Hannywati Gunawan, SH, notaris di Jakarta, mengenai penyesuaian Pasal 3
                          Anggaran Dasar Perseroan perihal Maksud dan Tujuan Perseroan yang disesuaikan dengan Klasifikasi Baku Lapangan
                          Usaha Indonesia (KBLI) tahun 2020. Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia
     Akta Perubahan       Republik Indonesia dalam Surat Keputusan No. AHU-0028984.AH.01.02.Tahun 2024 tanggal 17 Mei 2024.
     Terakhir
     Last Amendment of    Deed No. 130 dated May 16th, 2024, made before Hannywati Gunawan, SH, a Notary in Jakarta, on the amendments
     the Deed             to Article 3 of the Company’s Articles of Association regarding the Company’s Purposes and Objectives, which
                          are adjusted to the Standard Classification of Indonesian Business Fields (KBLI) Year 2020. These amendments
                          have been approved by the Minister of Law and Human Rights of the Republic of Indonesia under the Decree
                          No. AHU-0028984.AH.01.02.Tahun 2024 dated May 17th, 2024.


     Modal Dasar                                                                 Tanggal Pencatatan Saham             17 November 2011
                          Rp2,000,000,000,000
     Authorized Capital                                                          Stock Listing Date                   November 17th, 2011


     Modal Ditempatkan                                                                                      663
     dan Disetor                                                                 Jumlah Karyawan
     Issued and
                          Rp588,235,300,000                                      Total Employees            orang (termasuk Entitas Anak)
     Paid-Up Capital                                                                                        employees (including Subsidiaries)



                                                          51.000% PT Dian Swastatika Sentosa Tbk
                                                          30.000% PT Radhika Jananta Raya
     Kepemilikan
                                                           6.990% Golden Energy and Resources Pte. Ltd.                     Kode Saham
     Ownership
                                                                                                                             Stock Code
                                                           1.620% PT Sinar Mas Cakrawala (SMC)
                                                          10.390% Publik / Public
                                                                                                                              GEMS
                          Sinar Mas Land Plaza Tower II Lt. 6
     Kantor Pusat         Jl. MH Thamrin No. 51                              (021) 5018 6888             corsec@goldenenergymines.com
     Head Office          Jakarta Pusat / Central Jakarta 10350,             (021) 3199 0319             www.goldenenergymines.com
                          Indonesia


                                                                                                  Laporan Tahunan 2024 Annual Report     19
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Profil Perusahaan




Jejak Langkah
Milestone


  1997                                           13 Maret / March 13th
  Perseroan didirikan dengan nama PT Bumi Kencana Eka Sakti.                      2006
  The Company was incorporated under the name PT Bumi Kencana Eka Sakti.          Mengakuisisi PT Borneo Indobara, pemegang Perjanjian Kerja Sama
                                                                                  Pengusahaan Pertambangan Batu bara (PKP2B) yang terletak di Kalimantan
                                                                                  Selatan, melalui Entitas Anak, PT Roundhill Capital Indonesia.
  2009                                                                            Acquired PT Borneo Indobara, the holder of a Coal Contract of Work (CCOW)
                                                                                  located in South Kalimantan, through its Subsidiary, PT Roundhill Capital
  • Perseroan diakuisisi oleh PT Dian Swastatika Sentosa Tbk; serta
                                                                                  Indonesia.
  • Melakukan ekspansi pada kegiatan usaha utama di sektor
    pertambangan dengan mengakuisisi beberapa wilayah pertambangan
    baru yang terletak di wilayah Jambi dan Kalimantan Tengah.
  • The Company was acquired by PT Dian Swastatika Sentosa Tbk; and
  • Conducted expansion of its main business activities in the mining
                                                                                  2010                                    16 November / November 16th

    sector by acquiring several new mining areas located in Jambi and             Melakukan perubahan nama menjadi PT Golden Energy Mines Tbk dalam
    Central Kalimantan.                                                           rangka IPO.
                                                                                  Changed its name to PT Golden Energy Mines Tbk for the purpose of IPO.


  2011                                 17 November / November 17th
                                                                                  2012                                                   13 Juli / July 13th
  Menjadi perusahaan go public dengan pencatatan saham perdana di
  Bursa Efek Indonesia.                                                           Mendirikan Entitas Anak, GEMS Coal Resources Pte. Ltd., yang berkedudukan
                                                                                  di Singapura.
  The Company became a listed company by conducting initial public
  offering on Indonesia Stock Exchange.                                           Incorporated a Subsidiary, GEMS Coal Resources Pte. Ltd., domiciled in
                                                                                  Singapore.
                                                                                                                                12 Oktober / October 12th

  2014                                       27 Januari / January 27th            Meresmikan kantor baru di Sinar Mas Land Plaza Tower II, Lt. 6,
                                                                                  Jl. MH Thamrin No. 51, Jakarta Pusat.
  Entitas Anak, GEMS Coal Resources Pte. Ltd., melakukan perubahan
                                                                                  Inaugurated a new office at Sinar Mas Land Plaza Tower II, 6th Fl.,
  nama menjadi GEMS Trading Resources Pte. Ltd.
                                                                                  Jl. MH Thamrin No. 51, Central Jakarta.
  A Subsidiary, GEMS Coal Resources Pte. Ltd., changed its name to GEMS
  Trading Resources Pte. Ltd.

                                                                                  2015                                                 20 April / April 20th

  2016                                20 September / September 20th               PT Dian Swastatika Sentosa Tbk mengalihkan 66,9998% saham Perseroan
                                                                                  yang dimilikinya kepada Golden Energy and Resources Limited (dahulu
  Perseroan dan Entitas Anak, PT Kuansing Inti Makmur, menyelesaikan
                                                                                  United Fiber System Limited), perusahaan yang berkedudukan di Singapura.
  akuisisi PT Era Mitra Selaras beserta 2 Entitas Anak, yakni PT Wahana
  Rimba Lestari dan PT Berkat Satria Abadi, yang memiliki wilayah                 PT Dian Swastatika Sentosa Tbk transferred 66.9998% of its shares to
  pertambangan di wilayah Sumatra Selatan dan Sumatra Barat.                      Golden Energy and Resources Limited (formerly known as United Fiber
                                                                                  System Limited), a company domiciled in Singapore.
  The Company and its Subsidiary, PT Kuansing Inti Makmur, completed
  the acquisition of PT Era Mitra Selaras along with 2 of its Subsidiaries,
  i.e. PT Wahana Rimba Lestari and PT Berkat Satria Abadi, which have
  mining areas in South Sumatra and West Sumatra areas.                           2017                                    30 November / November 30th
                                                                                  Mendirikan PT Kuansing Inti Sejahtera dan PT Bungo Bara Makmur, yang
                                                                                  berkedudukan di Muara Bungo, Jambi.
  2018                                        31 Agustus / August 31st            Incorporated PT Kuansing Inti Sejahtera and PT Bungo Bara Makmur,
                                                                                  domiciled in Muara Bungo, Jambi.
  Perseroan dan Entitas Anak, yaitu PT GEMS Energy Indonesia,
  menyelesaikan akuisisi PT Dwikarya Sejati Utama, PT Duta Sarana
  Internusa, PT Unsoco, dan PT Barasentosa Lestari yang merupakan
  Pemegang PKP2B di daerah Sumatra Selatan.                                       2022                                   15 September / September 15th
  The Company and its Subsidiary, namely PT GEMS Energy Indonesia,                GMR Coal Resources Pte. Ltd. menjual 30% saham Perseroan yang dimilikinya
  completed the acquisition of PT Dwikarya Sejati Utama, PT Duta Sarana           kepada PT Radhika Jananta Raya, Entitas Anak dari PT ABM Investama Tbk.
  Internusa, PT Unsoco, and PT Barasentosa Lestari, which hold CCOW in
                                                                                  GMR Coal Resources Pte. Ltd. sold 30% of its shares of the Company to
  South Sumatra.
                                                                                  PT Radhika Jananta Raya, a subsidiary of PT ABM Investama Tbk.



  2023                                                 Agustus / August

  Serangkaian aksi korporasi dilakukan oleh PT Dian Swastatika Sentosa Tbk dan Golden Energy and Resources Limited selama bulan Agustus 2023, sehingga
  setelahnya kedua perusahaan tersebut memiliki masing-masing 51% dan 6,990% saham dalam Perseroan.
  A series of corporate actions were carried out by PT Dian Swastatika Sentosa Tbk and Golden Energy and Resources Limited in August 2023, and consequently,
  the two companies own 51% and 6.990% shares in the Company, respectively.




 20        PT Golden Energy Mines Tbk
Page 23
                                                                                                                          Company Profile




Riwayat Singkat
Brief History

Perseroan berdiri pada tanggal 13 Maret 1997 dengan nama          The Company was incorporated on March 13th, 1997, under
PT Bumi Kencana Eka Sakti yang kemudian berubah nama              the name of PT Bumi Kencana Eka Sakti, which then changed
menjadi PT Golden Energy Mines Tbk pada tanggal 16 November       its name to PT Golden Energy Mines Tbk on November 16th,
2010. Pada tanggal 10 Desember 2009, Perseroan diakuisisi oleh    2010. On December 10th, 2009, the Company was acquired by
PT Dian Swastatika Sentosa Tbk dengan mengambil alih 99,998%      PT Dian Swastatika Sentosa Tbk that took over 99.998% of the
saham atas Perseroan dari PT Gerbangmas Tunggal Sejahtera.        Company’s shares from PT Gerbangmas Tunggal Sejahtera.
Akuisisi tersebut telah dicatat dalam Akta No. 40 tanggal         The acquisition was recorded in the Deed No. 40 dated
10 Desember 2009 yang dibuat di hadapan Notaris Linda Herawati,   December 10th, 2009, made before Notary Linda Herawati, SH, a
SH, notaris di Jakarta. Bergabungnya PT Dian Swastatika Sentosa   notary in Jakarta. The joining of PT Dian Swastatika Sentosa Tbk
Tbk dalam struktur Pemegang Saham secara tidak langsung           in the shareholding structure indirectly made the Company as a
menjadikan Perseroan sebagai bagian dari Grup Sinar Mas.          part of Sinar Mas Group.

Setelah menjadi bagian dari Grup Sinar Mas, beberapa langkah      After becoming a part of Sinar Mas Group, several measures in
strategis bisnis terus dilakukan. Dalam rangka memperluas         the business strategy continue being carried out. To expand its
jangkauan usaha, Perseroan mengakuisisi beberapa wilayah          business reach, Company acquired several new mining areas
pertambangan baru yang terletak di wilayah Jambi dan Kalimantan   located in Jambi and Central Kalimantan. The Company obtained
Tengah. Perseroan memperoleh Izin Usaha Pertambangan (IUP)        the Mining License (IUP) of Specific Production Operations for Coal
Operasi Produksi Khusus untuk Pengangkutan dan Penjualan          Transportation and Sales in 2011 and renewed it in 2023 pursuant
Batubara sejak tahun 2011 dan diperbarui pada tahun 2023          to the Decision of Head of Capital Investment Coordinating Board
berdasarkan Keputusan Kepala Badan Koordinasi Penanaman           (BKPM) No. 81202191527980003 dated July 31st, 2023.
Modal (BKPM) No. 81202191527980003 tanggal 31 Juli 2023.

Perseroan mendapatkan Pernyataan Efektif dari Ketua Badan         The Company obtained an Effective Statement from the Head
Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK)            of Capital Market Supervisory Board and Financial Agency
melalui Surat Keputusan No. S-12171/BL/2011 untuk                 (Bapepam-LK) through the Decision No. S-12171/BL/2011 to
melakukan penawaran umum saham perdana (initial public            carry out Initial Public Offering (IPO) on November 9th, 2011, as
offering/IPO) pada 9 November 2011 sebanyak 882.353.000           many as 882,353,000 shares. On November 17th, 2011, the entire
saham. Pada 17 November 2011, seluruh saham Perseroan             Company shares of 5,882,353,000 were listed on Indonesia Stock
sebanyak 5.882.353.000 telah tercatat di Bursa Efek Indonesia.    Exchange. Thus, such corporate action made the Company as
Dengan demikian, aksi korporasi tersebut menjadikan Perseroan     a public company in Indonesia. Through the IPO process, GMR
sebagai perusahaan terbuka di Indonesia. Melalui proses IPO       Coal Resources Pte. Ltd., which is domiciled in Singapore and a
tersebut, GMR Coal Resources Pte. Ltd. yang berkedudukan di       Subsidiary of GMR Group (a leading infrastructure business group
Singapura dan merupakan Entitas Anak GMR Group (kelompok          in India), owns 30% shares from the entire paid-up and issued
usaha infrastruktur terkemuka di India) memiliki 30% saham dari   capital in the Company.
seluruh modal yang disetor dan ditempatkan di Perseroan.

Pada tanggal 20 April 2015, PT Dian Swastatika Sentosa Tbk        On April 20th, 2015, PT Dian Swastatika Sentosa Tbk transferred
mengalihkan sebanyak 66,9998% saham yang dimilikinya              66.9998% of its shares to Golden Energy and Resources Limited,
kepada Golden Energy and Resources Limited, perusahaan            a company domiciled in Singapore and a Subsidiary of PT Dian
yang berkedudukan di Singapura dan merupakan Entitas Anak         Swastatika Sentosa Tbk. Afterwards, on September 15th, 2022,
PT Dian Swastatika Sentosa Tbk. Kemudian pada tanggal             GMR Coal Resources Pte. Ltd. transferred 30% of its shares of
15 September 2022, GMR Coal Resources Pte. Ltd. mengalihkan       the Company to PT Radhika Jananta Raya, a subsidiary of PT ABM
30% saham Perseroan yang dimilikinya kepada PT Radhika            Investama Tbk domiciled in South Jakarta.
Jananta Raya, Entitas Anak PT ABM Investama Tbk yang
berkedudukan di Jakarta Selatan.

Serangkaian aksi korporasi dilakukan oleh PT Dian Swastatika      A series of corporate actions were carried out by PT Dian
Sentosa Tbk dan Golden Energy and Resources Limited selama        Swastatika Sentosa Tbk and Golden Energy and Resources
bulan Agustus 2023, sehingga setelahnya kedua perusahaan          Limited in August 2023, and consequently, the two companies
tersebut memiliki masing-masing 51% dan 6,990%saham dalam         own 51% and 6.990% shares in the Company, respectively.
Perseroan.

Melalui dukungan dari 21 Entitas Anak, baik secara langsung       Through the support of 21 Subsidiaries, both directly and
maupun tidak langsung, wilayah operasional pertambangan           indirectly, the mining operational areas spread in Sumatra and
yang tersebar di Sumatra dan Kalimantan, serta penerapan          Kalimantan, as well as the implementation of values contained
nilai-nilai yang terkandung dalam The Golden Way of Sinar         in The Golden Way of Sinar Mas, the Company is committed
Mas, Perseroan berkomitmen untuk menciptakan nilai tambah         to creating added value for customers and other stakeholders.
bagi para pelanggan dan para pemangku kepentingan lainnya.        Thus, the Company’s Vision to be the leading mining company in
Dengan demikian, Visi Perseroan untuk menjadi perusahaan          Indonesia can be realized.
pertambangan terkemuka di Indonesia dapat terwujud.


                                                                                            Laporan Tahunan 2024 Annual Report     21
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Profil Perusahaan




Visi dan Misi Perusahaan
Company’s Vision and Mission



Visi, Misi, dan Nilai-Nilai Perseroan dirumuskan sebagai
Kode Etik dan Peraturan Perusahaan, yang berfungsi



                                                                              VISI
sebagai panduan bagi Dewan Komisaris, Direksi, dan
karyawan. Hal ini senantiasa disosialisasikan kepada
seluruh karyawan melalui berbagai kegiatan dan media
informasi yang tersedia. Di samping itu, karyawan pada
tingkat manajerial diharapkan menjadi teladan dengan                           Vision
menginternalisasi dan menerapkan nilai-nilai tersebut
dalam setiap tindakan, sehingga dapat menjadi contoh                   Menjadi perusahaan
bagi karyawan lainnya. Sementara itu, apabila terdapat        pertambangan terkemuka di Indonesia
pelanggaran terhadap nilai-nilai tersebut akan dikenakan         dengan menciptakan nilai tambah
tindakan tegas, mulai dari pemberian sanksi hingga              bagi para pelanggan dan pemangku
pemutusan hubungan kerja.                                                  kepentingan.
The Company’s Vision, Mission, and Values are formulated        To be the leading mining company
as the Code of Conduct and Company Regulations, which             in Indonesia by creating added
serve as guidelines for the Board of Commissioners,                   value for customers and
Board of Directors, and employees. This is constantly                      stakeholders.
disseminated to all employees through various activities
and available information media. Furthermore, employees
at managerial level are expected to be the role models
by internalizing and implementing these values in every
action, thereby, can be an example for other employees.
Whereas, if there is a violation of these values, strict
action will be taken, ranging from sanctions to termination
of employment.




                                                              Reviu Visi dan Misi oleh
                                                              Dewan Komisaris dan Direksi

MISI                                                          Review of Vision and Mission by the Board of
                                                              Commissioners and Board of Directors
Mission
                                                              Visi dan Misi dievaluasi secara berkala dengan
                                                              mempertimbangkan kondisi saat ini dan tantangan di
                                                              masa depan. Berdasarkan hasil kaji ulang yang dilakukan
                                                              oleh Dewan Komisaris dan Direksi pada 16 April 2025,
                                                              dinyatakan bahwa Visi dan Misi telah sejalan dengan
                                                              kondisi perusahaan saat ini dan tantangan yang akan
           Membangun budaya korporat yang berpusat pada       dihadapi di masa mendatang.
           sumber daya manusia.
                                                              The Vision and Mission are periodically evaluated by
           Fokus pada keunggulan kegiatan operasional.        considering current conditions and future challenges.
           Membangun pertumbuhan berkesinambungan             Based on the results of review conducted by the Board of
           melalui standar keselamatan kerja yang tinggi,     Commissioners and Board of Directors on April 16th, 2025,
           pengembangan program kemasyarakatan yang           the Vision and Mission are still in line with the Company’s
           baik, dan pengelolaan lingkungan hidup yang        current condition and the future challenges.
           tangguh.




      •    Building corporate culture which focuses on
           human resources.
      •    Focusing on operational excellence.
      •    Building sustainable growth through high
           occupational safety standards,
           good community program development, and
           resilient environmental management.



 22        PT Golden Energy Mines Tbk
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                                                                                                                                      Company Profile




Nilai-Nilai Perseroan
Company Values



 Bertindak sesuai ucapan/janji sehingga        Menampilkan perilaku yang mendukung           Melaksanakan pekerjaan dengan sepenuh
 dapat menumbuhkan kepercayaan pihak           terciptanya lingkungan kerja yang saling      hati untuk mencapai hasil terbaik.
 lain.                                         menghargai dan kondusif.                      Nilai ini berkaitan dengan prinsip:
 Nilai ini dijalankan dengan prinsip:          Nilai ini berkaitan dengan prinsip:           • Gairah kerja;
 • Hati nurani;                                • Berpikir positif;                           • Berusaha menjadi yang terbaik; dan
 • Satunya perbuatan dengan kata; dan          • Menghargai orang lain;                      • Menyelesaikan       pekerjaan     sampai
 • Kejujuran.                                  • Kerja sama; dan                                tuntas.
 To act in accordance with what is             • Lingkungan kerja yang positif.              To carry out the work wholeheartedly to
 said/promised so that it can foster the       To display behavior that supports the         achieve the best result.
 trust of other parties.                       creation of mutual respect and conducive      This value is related to the principles of:
 This value is carried out with the            working environment.                          • Work passion;
 principles of:                                This value is related to the principles of:   • Try to be the best; and
 • Conscience;                                 • Positive thinking;                          • Complete the job thoroughly.
 • Walk the talk; and                          • Respectful to others;
 • Honesty                                     • Cooperation; and
                                               • Positive working environment.



              Integritas                                  Sikap Positif                                  Komitmen
                Integrity                               Positive Attitude                               Commitment




    “               The Golden Way of
                    Sinar Mas”
     Nilai yang dimiliki seluruh organisasi di bawah kepemimpinan Grup Sinar Mas,
     termasuk Perseroan. Nilai tersebut disusun sebagai pedoman bagi setiap pihak
     yang berkarya dalam organisasi Sinar Mas.

     The values owned by all organizations under the leadership of Sinar Mas Group,
     including the Company. The values are prepared as guidelines for every party
     working within Sinar Mas organization.




 Perbaikan Berkelanjutan                                      Inovasi                                        Loyal
    Continuous Improvement                                  Innovation                                      Loyality

 Meningkatkan         kemampuan       atau     Memunculkan gagasan atau menciptakan          Menumbuhkembangkan semangat untuk
 kapasitas diri, unit kerja, dan organisasi    produk/alat kerja/sistem kerja baru yang      mengerti, memahami, dan melaksanakan
 secara terus-menerus tanpa batas untuk        dapat meningkatkan produktivitas dan          nilai-nilai perusahaan sebagai bagian dari
 mencapai hasil terbaik.                       pertumbuhan perusahaan.                       Grup Sinar Mas.
 Nilai ini berkaitan dengan prinsip:           Nilai ini berkaitan dengan prinsip:           Nilai ini berkaitan dengan prinsip:
 • Data yang akurat;                           • Perbandingan dengan yang terbaik;           • Persaudaraan;
 • Peduli biaya; dan                              dan                                        • Kebanggaan; dan
 • Proses unggul.                              • Terobosan baru.                             • Dedikasi.
 To improve competency or self-capacity,       To bring up ideas or create new products/     To foster the spirit to understand, know
 work unit, and organization continuously      tools of work/work system that can            well, and implement the company values
 without limit to achieve the best result.     increase company productivities and           as part of Sinar Mas Group.
 This value is related to the principles of:   growth.                                       This value is related to the principles of:
 • Accurate data;                              This value is related to the principles of:   • Brotherhood;
 • Care about costs; and                       • Comparison with the best; and               • Pride; and
 • Excellent process.                          • New innovations.                            • Dedication.




                                                                                                     Laporan Tahunan 2024 Annual Report        23
Page 26
Profil Perusahaan




Kegiatan Usaha
Business Activities


Maksud dan Tujuan Perseroan sesuai dengan Pasal 3 Anggaran      The Company's Purpose and Objectives in accordance with Article
Dasar, yang terakhir diubah dan disahkan melalui Akta No. 130   3 of the Articles of Association, as lastly amended and ratified
tanggal 16 Mei 2024, yakni:                                     through Deed No. 130 dated May 16th, 2024, are:


1. Perdagangan besar bahan bakar padat, cair dan gas dan        1. Wholesale of solid, liquid and gas fuels, and YBDI products;
   produk YBDI;
2. Aktifitas Perusahaan Holding; dan                            2. Holding company activities; and
3. Aktifitas Konsultasi Manajemen lainnya.                      3. Other management consulting activities.




                    Pertambangan
                      Batu bara
                     Coal Mining
                                                                Pertambangan batu bara seluas 66.204 hektar dengan potensi
                                                                cadangan batu bara mencapai 0,90 miliar ton. Tersebar di
                                                                beberapa daerah, yakni Jambi (melalui KIM Block), Sumatra
                                                                Selatan (melalui BSL dan EMS Group), Sumatra Barat (melalui
                                                                EMS Group), Kalimantan Selatan (melalui BIB), dan Kalimantan
                                                                Tengah (melalui TKS).
                                                                Coal mining covering an area of 66,204 hectares with potential
                                                                coal reserves reaching 0.90 billion tons. Spread in several
Realisasi Kegiatan Usaha Perseroan                              regions, namely Jambi (through KIM Block), South Sumatra
di Tahun 2024                                                   (through BSL and EMS Group), West Sumatra (through EMS
                                                                Group), South Kalimantan (through BIB), and Central Kalimantan
Realization of the Company’s
                                                                (through TKS).
Business Activities in 2024




                    Perdagangan
                                                                Perdagangan batu bara dijalankan Perseroan melalui Entitas
                     Batu bara
                                                                Anak, yakni RCI dan GEMSTR, dengan berbagai jenis batu bara
                     Coal Trading                               yang dihasilkan oleh Entitas Anak lain (KIM Block, BSL, EMS
                                                                Group, BIB, dan TKS).
                                                                Coal trading is conducted by the Company through its
                                                                Subsidiaries, namely RCI and GEMSTR, by sharing the types of
                                                                coal produced by other Subsidiaries (KIM Block, BSL, EMS Group,
                                                                BIB, and TKS).


 24        PT Golden Energy Mines Tbk
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                                                                                                                      Company Profile




Produk dan Jasa
Products and Services


                                                    BIB             KIM             TKS          EMS Group               BSL
                Proximate Analysis
                                                4,000-4,200        4,600           6,600           3,000                4,800

Calorific Value       Kcal/kg    As Received     4,000-4,200        4,600            6,600             3,000                 4,800

Calorific Value         g         Air Dried      5,300-5,500        5,500            7,000             4,900                 5,900

Total Moisture          %        As Received          35-38         24-28            11-13             53-55             28-32

Moisture                g         Air Dried           15-35          8-15             8-10             16-20             12-14

Ash                     %         Air Dried             4-6          7-19             8-10                5-8                  7-8

Volatile Meter          %         Air Dried              40            36               41                 42                  41

Fixed Carbon            %         Air Dried           36-40         28-42               46                 35                  42

Total Sulphur           %         Air Dried          0.2-0.6        1-1.3           1.5-1.7           0.2-0.6           0.4-0.6

HGI                     %       Approximately         55-60            60               50                 65                  50

Size                    %            mm                0-50          0-50             0-50              0-50                 0-50




                                                               Wilayah Pemasaran

                                                               Sepanjang tahun 2024, Perseroan dan Entitas Anak telah
                                                               memasarkan dan menjual produk batu bara untuk memenuhi
                                                               kebutuhan pasar domestik maupun internasional. Sebagian besar
                                                               produk tersebut dijual ke negara-negara Asia, seperti Tiongkok,
                                                               India, Korea Selatan, Filipina, dan Vietnam.


                                                               Selain itu, melalui 3 Entitas Anak, BIB, KIM Blok, dan BSL,
                                                               Perseroan mengalokasikan kurang lebih 37% dari total produksi
                                                               batu bara atau sekitar 19,1 juta ton untuk memenuhi konsumsi
                                                               dalam negeri. Hal ini ditujukan untuk memenuhi ketentuan
                                                               terkait domestic market obligation (DMO) yang mewajibkan
                                                               setiap perusahaan untuk menjual minimal 25% dari total
                                                               produksi batu bara ke pelanggan di dalam negeri. Oleh karena
                                                               itu, Perseroan tetap berkomitmen untuk mendahulukan pasokan
                                                               kebutuhan batu bara dalam negeri, baik untuk sektor kelistrikan
                                                               maupun non-kelistrikan.



                                                               Marketing Areas

                                                               Throughout 2024, the Company and its Subsidiaries marketed and
                                                               sold coal products to meet domestic and international market
                                                               demand. Most of these products are sold to Asian countries, such
                                                               as China, India, South Korea, Philippines, and Vietnam.


                                                               Furthermore, through 3 Subsidiaries, namely BIB, KIM Block,
                                                               and BSL, the Company allocated approximately 37% of the total
                                                               coal production or around 19.1 million tons to meet domestic
                                                               consumption. This is intended to comply with domestic market
                                                               obligation (DMO)-related provisions which require each company
                                                               to sell a minimum of 25% of total coal production to domestic
                                                               customers. Therefore, the Company remained committed to
                                                               prioritizing supply for domestic coal demand, both for electricity
                                                               and non-electricity sectors.



                                                                                        Laporan Tahunan 2024 Annual Report           25
Page 28
Profil Perusahaan




Sementara itu, dari total 51,86 juta ton penjualan batu bara         Meanwhile, of the total 51.86 million tons of coal sales of
Perseroan dan Entitas Anak yang dialokasikan untuk pasar luar        the Company and its Subsidiaries which were allocated to
negeri, Tiongkok mengambil pangsa pasar penjualan terbesar           international market, China took the largest sales market share
sekitar 45%, diikuti oleh India 11%, dan lain-lain sebesar 7%,       of around 45%, followed by India of 11%, and others of 7%,
antara lain Malaysia, Thailand, Taiwan, Filipina, Vietnam, Korea     among others, Malaysia, Thailand, Taiwan, Philippines, Vietnam,
Selatan, Kamboja, Hongkong, dan Bangladesh.                          South Korea, Cambodia, Hongkong, and Bangladesh.



Rantai Pasokan                                                       Supply Chain

Perseroan menjalankan kegiatan operasional mulai dari                The Company runs its operations ranging from mining coal, coal
pertambangan sumber daya batu bara, logistik batu bara, sampai       logistics, to trading coal to customers. Moreover, to maintain
dengan perdagangan batu bara kepada pelanggan. Selain itu,           supply chain continuity, the Company always maintains good
demi menjaga kesinambungan rantai pasok, Perseroan senantiasa        relationship with all parties involved in the process, from
menjalin hubungan baik dengan seluruh pihak yang terlibat dalam      suppliers to customers. This is supported by Subsidiaries engaged
proses tersebut, mulai dari pemasok hingga pelanggan. Kegiatan       in the management of concession areas as the Company’s coal
ini didukung oleh Entitas Anak yang bergerak di bidang pengelolaan   source, as well as other Subsidiaries engaged in marketing to
area konsesi sebagai sumber batu bara Perseroan, serta Entitas       meet customer demand. The Company and Subsidiaries’ largest
Anak lainnya yang bergerak di bidang pemasaran untuk memenuhi        customers in 2024 were China, Indonesia, and India.
kebutuhan pelanggan. Pelanggan terbesar Perseroan dan Entitas
Anak pada tahun 2024 adalah Tiongkok, Indonesia, dan India.


Adapun sumber batu bara utama Perseroan serta 3 pelanggan            In 2024, the Company’s main coal sources and the 3 largest
terbesar Perseroan pada tahun 2024 diungkapkan sebagai berikut.      customers in 2024 were disclosed as follows.




                    Pemasok                                                   Pelanggan Utama
                    Suppliers                                                     Main Customers




                                             KIM
         GEMS         BIB        BSL
                                            BLOK                      INDIA               CHINA               INDONESIA




 26        PT Golden Energy Mines Tbk
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                                                                                                                           Company Profile




Wilayah Konsesi
Concession Areas

Peta wilayah konsesi Perseroan pada tahun 2024 disajikan sebagai berikut.
The Company’s map of concession areas in 2024 is presented as follows.


                      2       KIM BLOK (PT Kuansing Inti Makmur - Blok)


                                                   4    TKS (PT Trisula Kencana Sakti)


                                                        1     BIB (PT Borneo Indobara)




                          3    BSL (PT Barasentosa Lestari)


                  5     EMS GROUP (PT Wahana Rimba Lestari dan / and PT Berkat Satria Abadi)


                                       Perizinan / License : Perjanjian Kerja Sama Pengusahaan Pertambangan Batu bara (PKP2B) /
  BIB                                  			Coal Contract of Work (CCOW) (2006-2036)
                                       Luas / Area		 : 24,100 Ha
  PT Borneo Indobara                   Lokasi / Location		 : Kabupaten Tanah Bumbu, Kalimantan Selatan / Tanah Bumbu Regency,
                                       			 South Kalimantan


  KIM BLOK                             Perizinan / License : Izin Usaha Pertambangan/IUP / Mining License (2009-2034)
  PT Kuansing Inti Makmur              Luas / Area		 : 2,610 Ha
  dan Entitas Anak / and               Lokasi / Location		 : Kabupaten Bungo, Jambi / Bungo Regency, Jambi
  Subsidiaries

                                       Perizinan / License : Perjanjian Kerja Sama Pengusahaan Pertambangan Batu bara (PKP2B) /
  BSL                                                        Coal Contract of Work (CCOW) (2011-2041)
                                       Luas / Area		 : 23,300 Ha
  PT Barasentosa Lestari               Lokasi / Location		 : Kabupaten Musi Rawas Utara dan Musi Banyuasin, Sumatra Selatan /
                                                             North Musi Rawas and Musi Banyuasin Regencies, South Sumatra


                                       Perizinan / License : Izin Usaha Pertambangan/IUP / Mining License (2009-2028)
  TKS                                  Luas / Area		 : 11,445 Ha
                                       Lokasi / Location		: Kabupaten Barito Utara dan Barito Timur, Kalimantan Tengah /
  PT Trisula Kencana Sakti
                                       			North Barito and East Barito Regencies, Central Kalimantan



  EMS Group                            Perizinan / License : Izin Usaha Pertambangan/IUP / Mining License (2008-2027)
                                       Luas / Area		 : 4,739 Ha
  PT Wahana Rimba Lestari              Lokasi / Location		 : Kabupaten Musi Banyuasin, Sumatra Selatan dan Kabupaten Dhamasraya,
  dan / and                            			Sumatra Barat / Musi Banyuasin Regency, South Sumatra, and
  PT Berkat Satria Abadi               			 Dhamasraya Regency, West Sumatra




                                                                                             Laporan Tahunan 2024 Annual Report     27
Page 30
              Profil Perusahaan




              Struktur Organisasi
              Organizational Structure


              Struktur Organisasi Perseroan per 31 Desember 2024 diungkapkan sebagai berikut.
              The Company’s organizational structure as of December 31st, 2024, is disclosed as follows.


                                                                                   Dewan Komisaris
                                                                                Board of Commissioners

                                                                                          Lokita Prasetya
                                                                                  Achmad Ananda Djajanegara
                                                                                            Alex Sutanto
                                                                                          Feriwan Sinatra
                                                                                    Dr. Ir. Bambang Setiawan
                                                                                            Ketut Sanjaya




                                                                                         Direksi
                                                                                    Board of Directors
                      Komite Audit
                     Audit Committee
                                                                                            Bonifasius
                                                                                          Haris Mustarto*)
                   Dr. Ir. Bambang Setiawan
                                                                                           Raden Utoro
                           Ketut Sanjaya
                                                                                         Yoghi Nuswantoro
                  Prof. Dr. Ir. Irwandy Arif, MSc
                                                                                            Suhendra
                                                                                          Paulus Yuniardi



                                                                                          CEO
                                                                                 Chief Executive Officer

                                                                                            Bonifasius


                        Audit Internal                                                                                                   Sekretaris Perusahaan
                        Internal Audit                                                                                                    Corporate Secretary

                           Dedy Susanto                                                                                                              Sudin SH




   Kepala                         Kepala Divisi                                                            Kepala
    Divisi                         Kepatuhan,                                             Kepala         Manajemen                                                      Kepala
Pemasaran &                        Perizinan &                                             Divisi           Risiko          Legal                                   Pertambangan       Head of
                                                        Chief             Chief                                                           Chief         Chief
Perdagangan       Head of         Administrasi                                              HSE           Perseroan       Operation                                 Sumatra Area      Digital &
                                                       Human            Financial                                                        Project      Operating
Marketing &    Sustainability     Compliance,                                               HSE           Corporate        Division                                    Sumatra       Technology
                                                      Resources          Officer                                                         Officer       Officer
  Trading                           License &                                             Division           Risk           Head                                     Area Mining      Solutions
  Division                       Administration                                            Head          Management                                                      Head
    Head                         Division Head                                                              Head

                                                       Paulus S.                                                          Benedicta                                                  Risetiyawan
 Giovanny           Mia                                                 Yoghi             Retno             Harlyn                       Yuliardi       Raden          Herbin
                                     Hartana            Satyo                                                              Christi                                                      Dimas
 Sientoro         Febrina                                             Nuswantoro          Nartani          Sianturi                       Fahmi         Utoro          Sitorus
                                                       Nugroho                                                           Harmiandari                                                    Sutejo



                             Deputy CFO                                                                       Deputy CFO
                                                                                                                                                 Kepala               Kepala           Kepala
                                Suhendra                                                                      Paulus Yuniardi                Pertambangan         Pertambangan     Pertambangan
                                                                                                                                                   BIB              KIM Blok            BSL
                                                                                                                                              BIB Mining            KIM Block           BSL
                                                                                                                                                  Head             Mining Head      Mining Head



                Kepala Divisi Keuangan &                       Kepala Divisi Keuangan &                      Kepala Divisi Keuangan &                Riadi           Yuyu             Petra
                      Akuntansi I                                    Akuntansi II                                  Akuntansi III                    Pinem           Gumilar          Parulian
                 Finance & Accounting I                         Finance & Accounting II                       Finance & Accounting III
                     Division Head                                  Division Head                                  Division Head

                    Vikram Ramchandani S                              Benny Kurniawan                                   Mery


              *) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.



               28           PT Golden Energy Mines Tbk
Page 31
                                                                                                                                                           Company Profile




Profil Dewan Komisaris
Profile of Board of Commissioners


Berikut komposisi Dewan Komisaris Perseroan pada 31 Desember 2024.
The following is the Board of Commissioners’ composition as of December 31st, 2024.




                                                                                        • President Director of PT Sulfindo Adiusaha (2016-2017); and
                                                                                        • Direktur PT Dian Swastatika Sentosa Tbk (2018-2021).
  Lokita Prasetya                                                                        Rangkap Jabatan / Concurrent Positions
  Presiden Komisaris                                                                    • Wakil Presiden Direktur PT Dian Swastatika Sentosa Tbk (sejak 2018) serta Komisaris
  President Commissioner                                                                  dan Direktur di beberapa Entitas Anak PT Dian Swastatika Sentosa Tbk;
                                                                                        • Wakil Ketua Komite Tetap Kamar Dagang dan Industri Indonesia (KADIN) bidang
                                                                                          Energi dan Sumber Daya Mineral (sejak 2021);
  Warga Negara Indonesia                                                                • Anggota Dewan Pengawas Himpunan Asli Kelistrikan (HAKIT) (sejak 2021);
  Indonesian Citizen                                                                    • Wakil Ketua Umum Asosiasi Pembangkit Listrik Swasta Indonesia (APLSI) (sejak 2021);
  59 tahun                                                                              • Anggota Komisaris di beberapa Entitas Anak Perseroan (sejak 2022); dan
  59 years old                                                                          • Anggota Pengurus Komite Ketenagalistrikan dan Energi Terbarukan Asosiasi
                                                                                          Pengusaha Indonesia (APINDO) (sejak 2023).
  Tangerang Selatan
                                                                                        • Vice President Director of PT Dian Swastatika Sentosa Tbk and (since 2018) and
  South Tangerang
                                                                                          Commissioner and Director in several Subsidiaries of PT Dian Swastatika Sentosa Tbk;
                                                                                        • Deputy Chair of the Standing Committee of the Indonesian Chamber of Commerce
                                                                                          and Industry (KADIN) for Energy and Mineral Resources (since 2021);
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                     • Member of the Supervisory Board of the Electricity Original Association (HAKIT)
2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                            (since 2021);
2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.                       • Deputy General Chair of the Association of Indonesian Private Power Generators
                                                                                          (APLSI) (since 2021);
 Riwayat Pendidikan / Educational                                                       • Member of Commissioners in several Subsidiaries of the Company (since 2022); and
• Sarjana Teknik Mesin, Institut Teknologi Sepuluh November (1987); dan                 • Member of the Electricity and Renewable Energy Committee of the Indonesian
• Magister Manajemen, Sekolah Tinggi Ilmu Ekonomi IPWI (2004).                            Employers’ Association (APINDO) (since 2023).
• Bachelor of Mechanical Engineering, Institut Teknologi Sepuluh November (1987); and    Keahlian / Expertise
• Master of Management, Sekolah Tinggi Ilmu Ekonomi IPWI (2004).
                                                                                        Manajemen dan Pengelolaan Energi.
 Pengalaman Kerja / Work Experience                                                     Management and Energy Management.
• Direktur Eksekutif PT Standard Toyo Polymer (1993-1995);                               Hubungan Afiliasi / Affiliate Relationship
• Direktur PT Satomo Indovyl Polymer dan PT Satomo Indovyl Monomer (1994-2002);
• Presiden Direktur PT Merak Energi Indonesia (2007-2016);                              Memiliki hubungan afiliasi dengan Pemegang Saham Utama dan Pengendali, namun
• Direktur PT Artha Sumatera Energi (2010-2016);                                        tidak memiliki afiliasi dengan anggota Direksi dan Dewan Komisaris Perseroan.
• Presiden Direktur PT Sulfindo Adiusaha (2016-2017); dan                               Has affiliate relationship with the Majority and Controlling Shareholders, but has no
• Direktur PT Dian Swastatika Sentosa Tbk (2018-2021).                                  affiliation with members of the Board of Directors and with members of the Board of
• Executive Director of PT Standard Toyo Polymer (1993-1995);                           Commissioners of the Company.
• Director of PT Satomo Indovyl Polymer and PT Satomo Indovyl Monomer (1994-2002);       Kepemilikan Saham di Perseroan / Share Ownership in Company
• President Director of PT Merak Energi Indonesia (2007-2016);
• Director of PT Artha Sumatera Energi (2010-2016);                                     Tidak memiliki saham.
                                                                                        No shares ownership.




                                                                                         Pengalaman Kerja / Work Experience

  Achmad Ananda                                                                         • Partner Corporate Finance and Advisory Fund Asia (2004-2006);
                                                                                        • Senior Director Standard Chartered Bank (2006-2007);
  Djajanegara                                                                           • Managing Director Standard Chartered Bank (2007-2008);
                                                                                        • Chief Strategy Officer PT Tiara Marga Trakindo (2008-2009); dan
  Wakil Presiden Komisaris                                                              • Managing Director PT ABM Investama Tbk (2009-2010).
  Vice President Commissioner                                                           • Partner of Corporate Finance and Advisory of Fund Asia (2004-2006);
  Warga Negara Indonesia                                                                • Senior Director of Standard Chartered Bank (2006-2007);
  Indonesian Citizen                                                                    • Managing Director of Standard Chartered Bank (2007-2008);
                                                                                        • Chief Strategy Officer of PT Tiara Marga Trakindo (2008-2009); and
  59 tahun                                                                              • Managing Director of PT ABM Investama Tbk (2009-2010).
  59 years old
                                                                                         Rangkap Jabatan / Concurrent Positions
  Jakarta Selatan
  South Jakarta                                                                         • Direktur Utama PT ABM Investama Tbk (sejak 2009); dan
                                                                                        • Anggota Dewan Komisaris di beberapa Entitas Anak PT ABM Investama Tbk
                                                                                          (sejak 2019).
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                     • President Director of PT ABM Investama Tbk (since 2009); and
                                                                                        • Member of the Board of Commissioner in several subsidiaries of PT ABM Investama Tbk
2024-2026 : Keputusan RUPS Tahunan 16 Mei 2024.                                           (since 2019).
2024-2026 : Resolution of the Company’s AGMS dated May 16th, 2024.
                                                                                         Keahlian / Expertise
 Riwayat Pendidikan / Educational
                                                                                        Manajemen dan Pengelolaan Energi.
• Sarjana Administrasi Bisnis, Fakultas Ilmu Sosial dan Ilmu Politik, Universitas       Energy Management and Administration.
  Indonesia, Depok (1990); dan
• Master of Business Administration, Rotterdam School of Management, Erasmus             Hubungan Afiliasi / Affiliate Relationship
  University, Rotterdam, Belanda (1992).                                                Memiliki hubungan afiliasi dengan Pemegang Saham Utama, namun tidak memiliki
• Bachelor of Business Administration, Faculty of Social and Political Studies,         afiliasi dengan Pemegang Saham Pengendali, anggota Direksi dan Dewan Komisaris
  Universitas Indonesia, Depok (1990); and                                              Perseroan.
• Master of Business Administration, Rotterdam School of Management, Erasmus            Has affiliate relationship with the Majority Shareholder, but has no affiliation with
  University, Rotterdam, the Netherlands (1992).                                        Controlling Shareholder, members of the Board of Directors and the Board of
                                                                                        Commissioners of the Company.
                                                                                         Kepemilikan Saham di Perseroan / Share Ownership in Company
                                                                                        Tidak memiliki saham.
                                                                                        No shares ownership.



                                                                                                                         Laporan Tahunan 2024 Annual Report           29
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Profil Perusahaan




                                                                                         Rangkap Jabatan / Concurrent Positions
                                                                                        • Direktur PT Dian Swastatika Sentosa Tbk (sejak 2021) serta Komisaris dan Direktur di
  Alex Sutanto                                                                            beberapa Entitas Anak PT Dian Swastatika Sentosa Tbk di luar Perseroan;
  Komisaris                                                                             • Anggota Komisaris di beberapa Entitas Anak Perseroan (sejak 2022), antara lain:
  Commissioner                                                                            - Entitas Anak PT Kuansing Inti Makmur; dan
                                                                                          - PT Barasentosa Lestari Grup.
                                                                                        • Director of PT Dian Swastatika Sentosa Tbk (since 2021) as well as Commissioner
                                                                                          and Director of several Subsidiaries of PT Dian Swastatika Sentosa Tbk outside the
  Warga Negara Indonesia                                                                  Company;
  Indonesian Citizen                                                                    • Member of the Board of Commissioners in several Company’s Subsidiaries
  39 tahun                                                                                (since 2022), among others:
  39 years old                                                                            - Subsidiary of PT Kuansing Inti Makmur; and
                                                                                          - PT Barasentosa Lestari Group.
  Jakarta
                                                                                         Keahlian / Expertise
                                                                                        Manajemen dan Akuntansi.
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                     Management and Accounting.

2022-2026 : Keputusan RUPS Luar Biasa 29 Juli 2022.                                      Sertifikasi Profesi / Professional Certification
2022-2026 : Resolution of the Company’s EGMS dated July 29th, 2022.                     Chartered Accountant.
 Riwayat Pendidikan / Educational                                                       Chartered Accountant.

• Sarjana Akuntansi, Fakultas Ekonomi, Universitas Katolik Indonesia Atma Jaya           Hubungan Afiliasi / Affiliate Relationship
  (2008); dan                                                                           Memiliki hubungan afiliasi dengan Pemegang Saham Utama dan Pengendali, namun
• Professional Accountant, Universitas Trisakti (2011).                                 tidak memiliki afiliasi dengan anggota Direksi dan Dewan Komisaris Perseroan.
• Bachelor of Accounting, Faculty of Economics, Universitas Katolik Atma Jaya (2008);   Has affiliate relationship with the Majority and Controlling Shareholders, but has no
  and                                                                                   affiliation with members of the Board of Directors and with members of the Board of
• Professional Accountant, Universitas Trisakti (2011).                                 Commissioners of the Company.
 Pengalaman Kerja / Work Experience                                                      Kepemilikan Saham di Perseroan / Share Ownership in Company
• Senior Manager Auditor KAP Satrio Bing & Eny (Deloitte) (2007-2016);                  Tidak memiliki saham.
• Group Head Finance, Accounting, Tax, and Customs PT DSSP Power Mas Utama              No shares ownership.
  (2016-2020); dan
• Group Head Finance, Accounting, and Tax PT Dian Swastatika Sentosa Tbk
  (2020-2021).
• Senior Manager Auditor at KAP Satrio Bing & Eny (Deloitte) (2007-2016);
• Group Head Finance, Accounting, Tax, and Customs of PT DSSP Power Mas Utama
  (2016-2020); and
• Group Head of Finance, Accounting, and Tax of PT Dian Swastatika Sentosa Tbk
  (2020-2021).




                                                                                         Rangkap Jabatan / Concurrent Positions
  Feriwan Sinatra                                                                       • Direktur dan anggota Komite Investasi PT ABM Investama Tbk (sejak 2024);
  Komisaris                                                                             • Anggota Dewan Komisaris dan anggota Direksi di beberapa Entitas Anak
  Commissioner                                                                            PT ABM Investama Tbk (sejak 2024);
                                                                                        • Anggota Dewan Komisaris di beberapa Entitas Anak Perseroan (sejak 2022), antara lain:
                                                                                          - PT Kuansing Inti Makmur dan Entitas Anak;
  Warga Negara Indonesia                                                                  - PT Borneo Indobara;
  Indonesian Citizen                                                                      - PT Roundhill Capital Indonesia;
                                                                                          - PT Trisula Kencana Sakti; dan
  58 tahun                                                                                - PT Barasentosa Lestari Grup.
  58 years old                                                                          • Director and member of Investment Committee of PT ABM Investama Tbk
  Tangerang Selatan                                                                       (since 2024);
  South Tangerang                                                                       • Member of the Board of Commissioners and member of the Board of Directors in
                                                                                          several Subsidiaries of PT ABM Investama Tbk (since 2024);
                                                                                        • Member of the Board of Commissioners in several Company’s Subsidiaries (since
                                                                                          2022), among others:
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                       - PT Kuansing Inti Makmur and Subsidiaries;
                                                                                          - PT Borneo Indobara;
2024-2026 : Keputusan RUPS Tahunan 16 Mei 2024.                                           - PT Roundhill Capital Indonesia;
2024-2026 : Resolution of the Company’s AGMS dated May 16th, 2024.                        - PT Trisula Kencana Sakti; and
 Riwayat Pendidikan / Educational                                                         - PT Barasentosa Lestari Group.
Sarjana Teknik Tambang, Institut Teknologi Bandung (1991).                               Keahlian / Expertise
Bachelor of Mining Engineering, Institut Teknologi Bandung (1991).                      Manajemen dan Pengelolaan Energi.
 Pengalaman Kerja / Work Experience                                                     Management and Energy Management.
• General Manager Mining Operation PT Kaltim Prima Coal (2008-2012);                     Hubungan Afiliasi / Affiliate Relationship
• Direktur PT Tunas Inti Abadi (2012-2015);                                             Memiliki hubungan afiliasi dengan Pemegang Saham Utama, namun tidak memiliki
• Direktur Utama PT Reswara Minergi Hartama (2015-2017);                                afiliasi dengan Pemegang Saham Pengendali, anggota Direksi dan Dewan Komisaris
• Direktur Utama PT Cipta Kridatama (2017-2024); dan                                    Perseroan.
• Wakil Presiden Direktur Perseroan (2022-2024).                                        Has affiliate relationship with the Majority Shareholder, but has no affiliation with
• General Manager Mining Operation of PT Kaltim Prima Coal (2008-2012);                 Controlling Shareholder, members of the Board of Directors and the Board of
• Director of PT Tunas Inti Abadi (2012-2015);                                          Commissioners of the Company.
• President Director of PT Reswara Minergi Hartama (2015-2017);
• President Director of PT Cipta Kridatama (2017-2024); and                              Kepemilikan Saham di Perseroan / Share Ownership in Company
• Vice President Director of the Company (2022-2024).                                   Tidak memiliki saham.
                                                                                        No shares ownership.




 30          PT Golden Energy Mines Tbk
Page 33
                                                                                                                                                         Company Profile




                                                                                        Pengalaman Kerja / Work Experience
                                                                                       • Sekretaris Direktorat Jenderal Mineral, Batu bara, dan Panas Bumi ESDM
  Dr. Ir. Bambang                                                                        (2007-Juni 2008); dan
  Setiawan                                                                             • Direktur Jenderal Mineral dan Batu bara ESDM (Juli 2008-2011).
                                                                                       • Secretary of Directorate General of Mineral, Coal, and Geothermal of ESDM
  Komisaris Independen                                                                   (2007-June 2008); and
  Independent Commissioner                                                             • Director General of Mineral and Coal of ESDM (July 2008-2011).

  Warga Negara Indonesia                                                                Rangkap Jabatan / Concurrent Positions
  Indonesian Citizen                                                                   • Komisaris Independen dan Ketua Komite Audit PT Archi Indonesia Tbk (sejak 2021);
  74 tahun                                                                               dan
  74 years old                                                                         • Ketua Komite Audit Perseroan (sejak Januari 2022).
                                                                                       • Independent Commissioner and Chairman of Audit Committee of PT Archi
  Bandung                                                                                Indonesia Tbk (since 2021); and
                                                                                       • Chairman of Audit Committee of the Company (since January 2022).
                                                                                        Keahlian / Expertise
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis
                                                                                       Manajemen dan Pengelolaan Energi.
• 2012-2016 : Keputusan RUPS Luar Biasa 12 Januari 2012;
                                                                                       Management and Energy Management.
• 2016-2021 : Keputusan RUPS Tahunan 10 Juni 2016; dan
• 2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                        Hubungan Afiliasi / Affiliate Relationship
• 2012-2016 : Resolution of the Company’s EGMS dated January 12th, 2012;
                                                                                       Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
• 2016-2021 : Resolution of the Company’s AGMS dated June 10th, 2016; and
                                                                                       Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan.
• 2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.
                                                                                       Has neither affiliate relationship with members of the Board of Commissioners and
 Riwayat Pendidikan / Educational                                                      members of the Board of Directors nor with the Majority and Controlling Shareholders
                                                                                       of the Company.
• Mining Exploration Engineering, Institut Teknologi Bandung (1976); dan
• Doktor jurusan Geology and Mining Exploration, The Ecole Nationale Superieure Des     Kepemilikan Saham di Perseroan / Share Ownership in Company
  Mines de Paris, Perancis (1993).
                                                                                       Tidak memiliki saham.
• Mining Exploration Engineering, Institut Teknologi Bandung (1976); and
                                                                                       No shares ownership.
• Doctor in Geology and Mining Exploration, The Ecole Nationale Superieure Des Mines
  de Paris, France (1993).                                                              Pernyataan Independensi / Statement of Independence
                                                                                       Beliau menjabat sebagai Komisaris Independen selama 3 periode dan telah
                                                                                       menandatangani surat pernyataan independensi.
                                                                                       He has served as an Independent Commissioner for 3 terms and has signed a statement
                                                                                       of independence.




                                                                                         - Supervisor (1994-2004);
                                                                                         - Manager of Denpasar Branch (2004-2007);
  Ketut Sanjaya                                                                          - Director of Supervision (2007-2008);
                                                                                         - Senior Banking Researcher (2008-2009);
  Komisaris Independen                                                                 • Commissioner of PT Bank Barclays Indonesia (2009-2011); and
  Independent Commissioner                                                             • Member of Audit Committee and Risk Monitoring Committee of PT Bank Sinarmas Tbk
                                                                                         (2011-2021).
                                                                                        Rangkap Jabatan / Concurrent Positions
  Warga Negara Indonesia
                                                                                       • Anggota Komite Audit PT Sinar Mas Agro Resources and Technology Tbk (sejak 2014);
  Indonesian Citizen
                                                                                       • Komisaris Independen, Ketua Komite Audit, serta Ketua Komite Nominasi dan
  73 tahun                                                                               Remunerasi PT Smartfren Telecom Tbk (sejak 2021);
  73 years old                                                                         • Komisaris Independen PT Sinar Mas Multiartha Tbk (sejak 2022); dan
  Jakarta                                                                              • Anggota Komite Audit Perseroan (sejak 2023).
                                                                                       • Audit Committee Member of PT Sinar Mas Agro Resources and Technology Tbk
                                                                                         (since 2014);
                                                                                       • Independent Commissioner, Chairman of Audit Committee, and Chairman of
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                      Nomination and Remuneration Committee of PT Smartfren Telecom Tbk (since 2021);
• 2012-2016 : Keputusan RUPS Luar Biasa 12 Januari 2012;                               • Independent Commissioner of PT Sinar Mas Multiartha Tbk (since 2022); and
• 2016-2021 : Keputusan RUPS Tahunan 10 Juni 2016; dan                                 • Audit Commitee Member of the Company (since 2023).
• 2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                        Keahlian / Expertise
• 2012-2016 : Resolution of the Company’s EGMS dated January 12th, 2012;
• 2016-2021 : Resolution of the Company’s AGMS dated June 10th, 2016; and              Manajemen dan Auditor Keuangan.
• 2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.                    Management and Financial Auditor.

 Riwayat Pendidikan / Educational                                                       Hubungan Afiliasi / Affiliate Relationship

• Sarjana Teknik Universitas Padjajaran, Bandung (1977); dan                           Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
• Master of Management Arthur D Little Management Education Institute, Boston, USA     Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan.
  (1984).                                                                              Has neither affiliate relationship with members of the Board of Commissioners and
• Bachelor of Engineering, Universitas Padjajaran, Bandung (1997); and                 members of the Board of Directors nor with the Majority and Controlling Shareholders
• Master of Management, Arthur D Little Management Education Institute, Boston,        of the Company.
  USA (1984).                                                                           Kepemilikan Saham di Perseroan / Share Ownership in Company
 Pengalaman Kerja / Work Experience                                                    Tidak memiliki saham.
• Beberapa jabatan di Bank Indonesia, antara lain:                                     No shares ownership.
  - Analis Kredit (1979-1983);                                                          Pernyataan Independensi / Statement of Independence
  - Pemeriksa (1985-1994);
  - Pengawas (1994-2004);                                                              Beliau menjabat sebagai Komisaris Independen selama 3 periode dan telah
  - Pemimpin Cabang Denpasar (2004-2007);                                              menandatangani surat pernyataan independensi.
  - Direktur Pengawasan (2007-2008);                                                   He has served as an Independent Commissioner for 3 terms and has signed a statement
  - Peneliti Senior Perbankan (2008-2009);                                             of independence.
• Komisaris PT Bank Barclays Indonesia (2009-2011); dan
• Anggota Komite Audit dan Komite Pemantau Risiko PT Bank Sinarmas Tbk (2011-2021).
• Several positions in Bank Indonesia, among others:
  - Credit Analyst (1979-1983);
  - Auditor (1985-1994);




                                                                                                                       Laporan Tahunan 2024 Annual Report           31
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Profil Perusahaan




Profil Direksi
Profile of Board of Directors

Berikut komposisi Direksi Perseroan pada 31 Desember 2024.
The following is the Board of Directors’ composition as of December 31st, 2024.




                                                                                          Rangkap Jabatan / Concurrent Positions
                                                                                         • Kepala Bidang Kehutanan Golden Energy and Resources Limited (sejak April 2015);
  Bonifasius                                                                             • Presiden Komisaris PT Era Mitra Selaras (sejak 2018);
  Presiden Direktur                                                                      • Presiden Komisaris PT Barasentosa Lestari Grup (sejak 2019);
  President Director                                                                     • Anggota Komisaris dan Direksi di beberapa Entitas Anak Golden Energy and
                                                                                           Resources Pte. Ltd., antara lain:
                                                                                           - PT Marga Buana Bumi Mulia (sejak 2012); dan
                                                                                           - PT Hutan Rindang Banua (sejak 2013).
  Warga Negara Indonesia                                                                 • Head of Forestry Department of Golden Energy and Resources Limited
  Indonesian Citizen                                                                       (since April 2015);
  60 tahun                                                                               • President Commissioner of PT Era Mitra Selaras (since 2018);
  60 years old                                                                           • President Commissioner of PT Barasentosa Lestari Group (since 2019);
                                                                                         • Member of Board of Commissioners and Board of Directors in several Subsidiaries of
  Jakarta
                                                                                           Golden Energy and Resources Pte. Ltd., among others:
                                                                                           - PT Marga Buana Bumi Mulia (since 2012); and
                                                                                           - PT Hutan Rindang Banua (since 2013).
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                       Keahlian / Expertise
• 2017-2021 : Keputusan RUPS Luar Biasa 25 November 2016; dan                            Manajemen dan Pengelolaan Energi.
• 2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                         Management and Energy Management.
• 2017-2021 : Resolution of the Company’s EGMS dated November 25th, 2016; and
• 2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.                       Hubungan Afiliasi / Affiliate Relationship
 Riwayat Pendidikan / Educational                                                        Memiliki hubungan afiliasi dengan Pemegang Saham Pengendali, namun tidak memiliki
                                                                                         afiliasi dengan Pemegang Saham Utama, anggota Direksi dan Dewan Komisaris
• Sarjana Ekonomi jurusan Akuntansi, Universitas Gajah Mada, Yogyakarta (1989);          Perseroan.
• Master Ekonomi jurusan Akuntansi bidang Manajemen, Institute of Business and           Has affiliate relationship with Controlling Shareholder, but has no affiliation with
  Information, Jakarta (1998); dan                                                       the Majority Shareholder, members of the Board of Directors and the Board of
• Doktor bidang Manajemen, Institute of Business and Information, Jakarta (2009).        Commissioners of the Company.
• Bachelor of Economics in Accounting, Universitas Gadjah Mada, Yogyakarta (1989);
• Master of Economics in Management Accounting, Institute of Business and                 Kepemilikan Saham di Perseroan / Share Ownership in Company
  Information, Jakarta (1998); and                                                       Tidak memiliki saham.
• Doctor in Management, Institute of Business and Information, Jakarta (2009).           No shares ownership.
 Pengalaman Kerja / Work Experience
• Analis Keuangan dan Presiden Direktur PT Daya Sakti Unggul Corporindo yang
  merupakan bagian dari grup Bina Surya Grup Corporation (1991-2009); dan
• Kepala Bidang Operasional PT Baturona Adimulya (Januari 2010-Maret 2012).
• Financial Analyst and President Director of PT Daya Sakti Unggul Corporindo which is
  part of Bina Surya Group Corporation (1991-2009); and
• Head of Operational Department of PT Baturona Adimulya (January 2010-March 2012).




                                                                                         • Chief Administrator Officer (CAO) PT Cipta Kridatama (2018-2019);
                                                                                         • Chief Administration Officer (CAO) PT ABM Investama Tbk (2019-2020); dan
  Haris Mustarto                    *)                                                   • Komisaris Perseroan (2022-2024).
                                                                                         • Country HR Manager of Plan International (1992-2004);
  Wakil Presiden Direktur                                                                • HR Area Manager of Tembagapura Division of PT Trakindo Utama (2004-2008);
  Vice President Director                                                                • Training & Development Manager of PT Trakindo Utama (2008-2010);
                                                                                         • Head of HR & Support Services of PT Cikarang Listrindo (2010-2012);
                                                                                         • Head of Human Capital Division/General Manager of PT Trakindo Utama (2012-2018);
                                                                                         • Chief Administrator Officer (CAO) of PT Cipta Kridatama (2018-2019);
  Warga Negara Indonesia
                                                                                         • Chief Administration Officer (CAO) of PT ABM Investama Tbk (2019-2020); and
  Indonesian Citizen
                                                                                         • Commissioner of the Company (2022-2024).
  60 tahun
  60 years old                                                                            Rangkap Jabatan / Concurrent Positions

  Yogyakarta                                                                             • Direktur PT ABM Investama Tbk (sejak 2019); dan
                                                                                         • Anggota Direksi di Entitas Anak PT ABM Investama Tbk (sejak 2019).
                                                                                         • Director of PT ABM Investama Tbk (since 2019); and
                                                                                         • Member of the Board of Directors at Subsidiary of PT ABM Investama Tbk
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                        (since 2019).
2024-2026 : Keputusan RUPS Tahunan 16 Mei 2024.                                           Keahlian / Expertise
2024-2026 : Resolution of the Company’s AGMS dated May 16th, 2024.
                                                                                         Manajemen dan Pengelolaan Energi.
 Riwayat Pendidikan / Educational                                                        Management and Energy Management.
• Sarjana Teknologi Pertanian, Universitas Gadjah Mada, Yogyakarta (1990); dan            Hubungan Afiliasi / Affiliate Relationship
• Magister Keuangan, Universitas Indonusa, Jakarta (1996).
• Bachelor of Agricultural Technology, Universitas Gadjah Mada, Yogyakarta (1990); and   Memiliki hubungan afiliasi dengan Pemegang Saham Utama, namun tidak memiliki
• Master of Finance, Universitas Indonusa, Jakarta (1996).                               afiliasi dengan Pemegang Saham Pengendali, anggota Direksi dan Dewan Komisaris
                                                                                         Perseroan.
 Pengalaman Kerja / Work Experience                                                      Has affiliate relationship with the Majority Shareholder, but has no affiliation with
• Country HR Manager Plan International (1992-2004);                                     Controlling Shareholder, members of the Board of Directors and the Board of
• HR Area Manager Tembagapura Division PT Trakindo Utama (2004-2008);                    Commissioners of the Company.
• Training & Development Manager PT Trakindo Utama (2008-2010);                           Kepemilikan Saham di Perseroan / Share Ownership in Company
• Head of HR & Support Services PT Cikarang Listrindo (2010-2012);
• Kepala Divisi/General Manager Human Capital PT Trakindo Utama (2012-2018);             Tidak memiliki saham.
                                                                                         No shares ownership.


*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.



 32          PT Golden Energy Mines Tbk
Page 35
                                                                                                                                                        Company Profile




                                                                                      • PT Vale Indonesia (formerly known as PT Inco Soroako) (May 1984-October 1990);
                                                                                      • Chief of Mining Engineering and Chief Operating Officer of PT Kaltim Prima Coal
  Raden Utoro                                                                           (October 1990-December 2014);
                                                                                      • Company’s Audit Committee (March 2015- November 2016);
  Direktur                                                                            • President Commissioner of PT Kuansing Inti Sejatera (2017-2022); and
  Director                                                                            • President Commissioner of PT Bungo Bara Makmur (2017-2022).
                                                                                       Rangkap Jabatan / Concurrent Positions
                                                                                      Direktur PT Borneo Indobara (sejak 2017).
  Warga Negara Indonesia
                                                                                      Director of PT Borneo Indobara (since 2017).
  Indonesian Citizen
  65 tahun                                                                             Keahlian / Expertise
  65 years old                                                                        Manajemen dan Pengelolaan Energi.
  Jakarta                                                                             Management and Energy Management.
                                                                                       Hubungan Afiliasi / Affiliate Relationship
                                                                                      Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                   Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan.
• 2017-2021 : Keputusan RUPS Luar Biasa 25 November 2016; dan                         Has neither affiliate relationship with members of the Board of Commissioners and
• 2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                      members of the Board of Directors nor with the Majority and Controlling Shareholders
• 2017-2021 : Resolution of the Company’s EGMS dated November 25th, 2016; and         of the Company.
• 2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.                    Kepemilikan Saham di Perseroan / Share Ownership in Company
 Riwayat Pendidikan / Educational                                                     Tidak memiliki saham.
Sarjana jurusan Mechanical Production Engineering, Institut Teknologi Sepuluh         No shares ownership.
Nopember Surabaya (1983).
Bachelor of Mechanical Production Engineering, Institut Teknologi Sepuluh Nopember
Surabaya (1983).
 Pengalaman Kerja / Work Experience
• PT Vale Indonesia (dahulu PT Inco Soroako) (Mei 1984-Oktober 1990);
• Kepala Teknik Tambang dan Chief Operating Officer PT Kaltim Prima Coal
  (Oktober 1990-Desember 2014);
• Komite Audit Perseroan (Maret 2015-November 2016);
• Presiden Komisaris PT Kuansing Inti Sejahtera (2017-2022); dan
• Presiden Komisaris PT Bungo Bara Makmur (2017-2022).




                                                                                       Rangkap Jabatan / Concurrent Positions
                                                                                      Anggota Direksi di beberapa Entitas Anak Perseroan (sejak 2022), antara lain:
  Yoghi                                                                               • GEMS Trading Resources Pte. Ltd.;
  Nuswantoro                                                                          • Entitas Anak PT Kuansing Inti Makmur dan Entitas Anak;
                                                                                      • PT Borneo Indobara;
  Direktur                                                                            • PT Roundhill Capital Indonesia; dan
  Director                                                                            • PT Trisula Kencana Sakti.
                                                                                      Member of the Board of Directors in several Company’s Subsidiaries (since 2022),
  Warga Negara Indonesia                                                              among others:
  Indonesian Citizen                                                                  • GEMS Trading Resources Pte. Ltd.;
  49 tahun                                                                            • Subsidiary PT Kuansing Inti Makmur and its Subsidiaries;
  49 years old                                                                        • PT Borneo Indobara;
                                                                                      • PT Roundhill Capital Indonesia; and
  Jakarta
                                                                                      • PT Trisula Kencana Sakti.
                                                                                       Keahlian / Expertise
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                   Manajemen dan Akuntansi.
                                                                                      Management and Accounting.
2022-2026 : Keputusan RUPS Luar Biasa 22 November 2022.
2022-2026 : Resolution of the Company’s EGMS dated November 22nd, 2022.                Hubungan Afiliasi / Affiliate Relationship
 Riwayat Pendidikan / Educational                                                     Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
                                                                                      Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan.
• Sarjana Teknik Sipil, Institut Teknologi Bandung (1999); dan                        Has neither affiliate relationship with members of the Board of Commissioners and
• Magister Manajemen, Prasetya Mulya Business School, Jakarta (2001).                 members of the Board of Directors nor with the Majority and Controlling Shareholders
• Bachelor of Civil Engineering, Institut Teknologi Bandung (1999); and               of the Company.
• Master of Management, Prasetya Mulya Business School, Jakarta (2001).
                                                                                       Kepemilikan Saham di Perseroan / Share Ownership in Company
 Pengalaman Kerja / Work Experience
                                                                                      Tidak memiliki saham.
• Head of Corporate Finance PT Trada Maritime Tbk (2008-2010);                        No shares ownership.
• Head of Finance PT Aerosystem Indonesia - Garuda Indonesia Group (2010-2011);
• Head of Corporate Business Development PT Tiara Marga Trakindo (2011-2013);
• General Manager Corporate Finance PT Mitra Pinasthika Mustika Tbk (2013-2014);
  dan
• Group Head Finance & Treasury PT ABM Investama Tbk (2014-2022).
• Head of Corporate Finance of PT Trada Maritime Tbk (2008-2010);
• Head of Finance of PT Aerosystem Indonesia - Garuda Indonesia Group (2010-2011);
• Head of Corporate Business Development of PT Tiara Marga Trakindo (2011-2013);
• General Manager Corporate Finance of PT Mitra Pinasthika Mustika Tbk (2013-2014);
  and
• Group Head of Finance & Treasury of PT ABM Investama Tbk (2014-2022).




                                                                                                                       Laporan Tahunan 2024 Annual Report          33
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Profil Perusahaan




                                                                                         Pengalaman Kerja / Work Experience
                                                                                        • Group Accounting Manager PT Galunggung Indosteel Perkasa (Juni 2005-September
  Suhendra                                                                                2007);
  Direktur                                                                              • Direktur PT Borneo Indobara (2013-2016);
  Director                                                                              • Direktur PT Trisula Kencana Sakti (2019-2022); dan
                                                                                        • Anggota Direksi PT Barasentosa Lestari Grup (2019-2022).
                                                                                        • Group Accounting Manager of PT Galunggung Indosteel Perkasa (June 2005-
                                                                                          September 2007);
  Warga Negara Indonesia                                                                • Director of PT Borneo Indobara (2013-2016);
  Indonesian Citizen                                                                    • Director of PT Trisula Kencana Sakti (2019-2022); and
  52 tahun                                                                              • Member of Board of Directors of PT Barasentosa Lestari Group (2019-2022).
  52 years old                                                                           Rangkap Jabatan / Concurrent Positions
  Tangerang
                                                                                        • Deputy CFO Perseroan (sejak 2016); dan
                                                                                        • Presiden Direktur PT Roundhill Capital Indonesia (sejak 2022).
                                                                                        • Company’s Deputy CFO (since 2016); and
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                     • President Director of PT Roundhill Capital Indonesia (since 2022).
• 2018-2021 : Keputusan RUPS Tahunan 3 Mei 2018; dan                                     Keahlian / Expertise
• 2021-2026 : Keputusan RUPS Tahunan 6 Mei 2021.                                        Manajemen, Keuangan, dan Pengelolaan Energi.
• 2018-2021 : Resolution of the Company’s AGMS dated May 3rd, 2018; and                 Management, Finance, and Energy Management.
• 2021-2026 : Resolution of the Company’s AGMS dated May 6th, 2021.
                                                                                         Sertifikasi Profesi / Professional Certification
 Riwayat Pendidikan / Educational
                                                                                        Konsultan Pajak.
• Sarjana Ekonomi (Akuntansi), Sekolah Tinggi Ilmu Ekonomi Yayasan Administrasi         Tax Consultant.
  Indonesia (1995);
• Master Ekonomi, Universitas Persada Indonesia, Yayasan Administrasi Indonesia          Hubungan Afiliasi / Affiliate Relationship
  (1997); dan                                                                           Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
• Doktor Ekonomi jurusan Akuntansi Universitas Trisakti (2020).                         Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan.
• Bachelor of Economics (Accounting), Sekolah Tinggi Ilmu Ekonomi Yayasan               Has neither affiliate relationship with members of the Board of Commissioners and
  Administrasi Indonesia (1995);                                                        members of the Board of Directors nor with the Majority and Controlling Shareholders
• Master of Economics, Universitas Persada Indonesia, Yayasan Administrasi Indonesia    of the Company.
  (1997); and
• Doctor of Economics in Accounting, Universitas Trisakti (2020).                        Kepemilikan Saham di Perseroan / Share Ownership in Company
                                                                                        Tidak memiliki saham.
                                                                                        No shares ownership.




                                                                                         Rangkap Jabatan / Concurrent Positions
                                                                                        • Anggota Direksi di beberapa Entitas Anak Perseroan (sejak 2022), antara lain:
  Paulus Yuniardi                                                                         - PT Kuansing Inti Makmur dan Entitas Anak;
  Direktur                                                                                - PT Borneo Indobara;
  Director                                                                                - PT Roundhill Capital Indonesia;
                                                                                          - PT Trisula Kencana Sakti; dan
                                                                                          - PT Barasentosa Lestari Grup.
                                                                                        • Member of the Board of Directors in several Company’s Subsidiaries (since 2022),
  Warga Negara Indonesia                                                                  among others:
  Indonesian Citizen                                                                      - PT Kuansing Inti Makmur and Its Subsidiaries;
  38 tahun                                                                                - PT Borneo Indobara;
  38 years old                                                                            - PT Roundhill Capital Indonesia;
                                                                                          - PT Trisula Kencana Sakti; and
  Tangerang
                                                                                          - PT Barasentosa Lestari Group.
                                                                                         Keahlian / Expertise
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                     Manajemen, Keuangan, dan Akuntansi.
                                                                                        Management, Finance, and Accounting.
2022-2026 : Keputusan RUPS Luar Biasa 22 November 2022.
2022-2026 : Resolution of the Company’s EGMS dated November 22nd, 2022.                  Hubungan Afiliasi / Affiliate Relationship
 Riwayat Pendidikan / Educational                                                       Memiliki hubungan afiliasi dengan Pemegang Saham Utama dan Pengendali, namun
                                                                                        tidak memiliki afiliasi dengan anggota Direksi dan Dewan Komisaris Perseroan.
Sarjana Akuntansi, Fakultas Ekonomi, Universitas Atma Jaya (2008).                      Has affiliate relationship with the Majority and Controlling Shareholders, but has no
Bachelor of Accounting, Faculty of Economics, Atma Jaya University (2008).              affiliation with members of the Board of Directors and with members of the Board of
 Pengalaman Kerja / Work Experience                                                     Commissioners of the Company.
• KPMG Siddharta & Widjaja (2008-2012);                                                  Kepemilikan Saham di Perseroan / Share Ownership in Company
• Beberapa posisi senior (2012-2022) dan Group Head Banking Relation & Treasury         Tidak memiliki saham.
  (2022) PT Dian Swastatika Sentosa Tbk;                                                No shares ownership.
• Direktur PT Datang DSSP Power Indonesia (2022); dan
• Anggota Dewan Komisaris dan Direksi di beberapa Entitas Anak PT Dian Swastatika
  Sentosa Tbk (2020-2024).
• KPMG Siddharta & Widjaja (2008-2012);
• Several senior positions (2012-2022) and Group Head Banking Relation & Treasury
  (2022) of PT Dian Swastatika Sentosa Tbk;
• Director of PT Datang DSSP Power Indonesia (2022); and
• Member of the Board of Commissioners and Board of Directors in several Subsidiaries
  of PT Dian Swastatika Sentosa Tbk (2020-2024).




 34           PT Golden Energy Mines Tbk
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                                                                                                                                                              Company Profile




Profil Komite Audit
Profile of Audit Committee



Berikut komposisi Komite Audit Perseroan pada 31 Desember 2024.
The following is the Audit Committee’s composition as of December 31st, 2024.

                                                                                          Periode dan Dasar Pengangkatan / Office Term and Appointment Basis
                                                                                          2022-2027 : Surat Keputusan Dewan Komisaris Perseroan 12 Januari 2022.
  Dr. Ir. Bambang Setiawan                                                                2022-2027 : Decision Letter of the Company’s Board of Commissioners January 12th,
  Ketua Komite Audit                                                                                  2022.
  Chairman of Audit Committee                                                             Profil dapat dilihat pada Profil Dewan Komisaris dalam Laporan Tahunan ini.
                                                                                          The profile can be seen in the Board of Commissioners’ Profile of this Annual Report.




                                                                                          Periode dan Dasar Pengangkatan / Office Term and Appointment Basis
                                                                                          2023-2027 : Surat Keputusan Dewan Komisaris Perseroan 6 September 2023.
  Ketut Sanjaya                                                                           2023-2027 : Decision Letter of the Company’s Board of Commissioners September 6th,
  Anggota Komite Audit                                                                                2023.
  Member of Audit Committee                                                               Profil dapat dilihat pada Profil Dewan Komisaris dalam Laporan Tahunan ini.
                                                                                          The profile can be seen in the Board of Commissioners’ Profile of this Annual Report.




                                                                                          • Head of Mining Engineering Faculty, Institut Teknologi Bandung (1995-1998);
                                                                                          • Dean of the Faculty of Earth Sciences and Mineral Technology, Institut Teknologi
  Prof. Dr. Ir.                                                                             Bandung (2003-2004);
                                                                                          • Chairman of Commission II of the Board of Trustees of Institut Teknologi Bandung
  Irwandy Arif, MSc.                                                                        (2009-2014);
  Anggota Komite Audit                                                                    • Member of Audit Committee in several mining companies in Indonesia:
                                                                                            - PT Adaro Energy Tbk (2009-2018);
  Member of Audit Committee                                                                 - PT Tobabara Sejahtera Tbk (2016-2020);
                                                                                          • Independent Commissioner of PT Berau Coal Energy Tbk (2014-2015);
  Warga Negara Indonesia
                                                                                          • Independent Commissioner of the Company (2015-2020);
  Indonesian Citizen
                                                                                          • Audit Committee Member of the Company (2015-2022); and
  74 tahun                                                                                • Member of the Board of Commissioners and Board of Directors at several Subsidiaries
  74 years old                                                                              of PT Dian Swastatika Sentosa Tbk (2020-2024).
  Jakarta                                                                                  Rangkap Jabatan / Concurrent Positions
                                                                                          • Presiden Komisaris PT Bukit Asam Tbk (sejak 2020); dan
                                                                                          • Komisaris Independen PT Baramulti Suksessarana Tbk (sejak 2024).
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis                       • President Commissioner of PT Bukit Asam Tbk (sejak 2020); and
2023-2027 :      Surat Keputusan Dewan Komisaris Perseroan 16 Februari 2023.              • Independent Commissioner of PT Baramulti Suksessarana Tbk (since 2024).
2023-2027 :      Decision Letter of the Company’s Board of Commissioners February 16th,    Keahlian / Expertise
                 2023.
                                                                                          Manajemen dan Pengelolaan Energi.
 Riwayat Pendidikan / Educational                                                         Energy Management and Administration.
• Sarjana Teknik Pertambangan, Institut Teknologi Bandung (1976);                          Hubungan Afiliasi / Affiliate Relationship
• Master Teknik Industri, Institut Teknologi Bandung (1985); serta
• Master (1988) dan Doktor (1991) Teknik Pertambangan, Ecoles des Mines de Nancy-         Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris dan anggota
  Institute Polytechnique de Lorraine, Perancis.                                          Direksi, maupun Pemegang Saham Utama dan Pengendali Perseroan
• Bachelor of Mining Engineering, Institut Teknologi Bandung (1976);                      Has neither affiliate relationship with members of the Board of Commissioners and
• Master of Industrial Engineering, Institut Teknologi Bandung (1985); and                members of the Board of Directors nor with the Majority and Controlling Shareholders
• Master (1988) and Doctorate (1991) of Mining Engineering, Ecoles des Mines de           of the Company.
  Nancy-Institute Polytechnique de Lorraine, France.                                       Kepemilikan Saham di Perseroan / Share Ownership in Company
 Pengalaman Kerja / Work Experience                                                       Tidak memiliki saham.
• Ketua Jurusan Teknik Pertambangan, Institut Teknologi Bandung (1995-1998);              No shares ownership.
• Dekan Fakultas Ilmu Kebumian dan Teknologi Mineral, Institut Teknologi Bandung
  (2003-2004);
• Ketua Komisi II Majelis Wali Amanat di Institut Teknologi Bandung (2009-2014);
• Anggota Komite Audit di beberapa perusahaan pertambangan di Indonesia:
  - PT Adaro Energy Tbk (2009-2018);
  - PT Tobabara Sejahtera Tbk (2016-2020);
• Komisaris Independen PT Berau Coal Energy Tbk (2014-2015);
• Komisaris Independen Perseroan (2015-2020); dan
• Anggota Komite Audit Perseroan (2015-2022); dan
• Staf Khusus Percepatan Bidang Tata Kelola Minerba Menteri Energi Sumber Daya
  Mineral (ESDM) (2020-2024).




                                                                                                                           Laporan Tahunan 2024 Annual Report            35
Page 38
Profil Perusahaan




Manajemen
Eksekutif
Executive
Management
Berikut komposisi Manajemen
Eksekutif Perseroan pada
31 Desember 2024.
The following is the Executive
Management’s composition                  Riadi Pinem                Herbin Sitorus             Yuyu Gumilar
as of December 31st, 2024.                  Mine Head BIB           Mine Head Sumatra Area     Mine Head KIM Block




      Retno Nartani                          Hartana                Paulus Swasono            Giovanny Sientoro
       HSE Division Head              Compliance License &          Satyo Nugroho               Marketing & Trading
                                    Administration Division Head    Chief Human Resources         Division Head




        Mia Febrina                Vikram Ramchandani               Benny Kurniawan                   Mery
     Head of Sustainability             Finance & Accounting I      Finance & Accounting II   Finance & Accounting III
                                            Division Head                Division Head             Division Head




      Yuliardi Fahmi                    Benedicta Christi             Risetiyawan               Petra Parulian
      Chief Project Officer               Harmiandari                 Dimas Sutejo                BSL Mining Head
                                    Legal Operation Division Head      Head of Digital &
                                                                     Technology Solutions


 36        PT Golden Energy Mines Tbk
Page 39
                                                                                                                                           Company Profile




Komposisi Pemegang Saham
Composition of Shareholders



Berikut komposisi Pemegang Saham Perseroan pada tahun 2024.                        The following is the Company’s Shareholders composition in 2024.


                                     Per 1 Januari 2024                                       Per 31 Desember 2024
                                    Per January 1st, 2024                                    Per December 31st, 2024
                                                                                                                                           Status
                         Jumlah                                                      Jumlah
   Uraian                                  Persentase                                                Persentase                          Kepemilikan
                         Saham                                   Jumlah              Saham                            Jumlah
 Description                              Kepemilikan                                               Kepemilikan                           Ownership
                        (Lembar                                 Nominal             (Lembar                          Nominal
                                           Ownership                                                 Ownership                             Status
                         Saham)                               Total Nominal          Saham)                        Total Nominal
                                          Percentage                                                Percentage
                      Total Shares                                 (Rp)           Total Shares                          (Rp)
                                               (%)                                                       (%)
                        (Shares)                                                    (Shares)

Modal Dasar
                       20,000,000,000                         2,000,000,000,000    20,000,000,000                  2,000,000,000,000
Authorized Capital

Modal Ditempatkan dan Disetor Penuh / Issued and Fully Paid Capital

Kepemilikan / Ownership >5%

PT Dian Swastatika                                                                                                                     Institusi Lokal
                        3,000,000,100              51.000       300,000,010,000     3,000,000,100         51.000     300,000,010,000
Sentosa Tbk                                                                                                                            Local Institution

Golden Energy and                                                                                                                      Institusi Asing
                          411,192,353               6.990        41,119,235,300      411,192,353           6.990      41,119,235,300
Resources Pte. Ltd.                                                                                                                    Foreign Institution

PT Radhika Jananta                                                                                                                     Institusi Lokal
                        1,764,705,900              30.000       176,470,590,000     1,764,705,900         30.000     176,470,590,000
Raya                                                                                                                                   Local Institution

Kepemilikan / Ownership <5%



PT Sinar Mas                                                                                                                           Institusi Lokal
                           93.729.800               1.593         9.372.980.000       95,505,000           1.620       9,550,500,000
Cakrawala                                                                                                                              Local Institution



Masyarakat                                                                                                                             Individu dan Institusi
(Kepemilikan <5%                                                                                                                       Lokal dan Asing
setiap pihak)             706,454,647              12.000        70,645,464,700      610,949,647          10.390      61,094,964,700   Local and Foreign
Public (Ownership                                                                                                                      Individual and
<5% for each party)                                                                                                                    Institutions

Jumlah Modal
Ditempatkan dan
Disetor Penuh
                        5,882,353,000             100.000       588,235,300,000     5,882,353,000        100.000     588,235,300,000
Total Shares
Issued and
Fully Paid



Grafik Komposisi Pemegang Saham 2024
Graphic of 2024 Shareholders Composition


                                                                                   Lembar Saham
                                                                                   Shares
               51.000%
               10.390%                                                                   3,000,000,100 PT Dian Swastatika Sentosa Tbk
                                                                                         1,764,705,900 PT Radhika Jananta Raya
                1.620%
                                                                                            411,192,353 Golden Energy and Resources Pte. Ltd.
                6.990%                                                                       95,505,000 PT Sinar Mas Cakrawala
                                                                                            610,949,647 Masyarakat / Public
               30.000%




                                                                                                             Laporan Tahunan 2024 Annual Report       37
Page 40
Profil Perusahaan




Komposisi Kepemilikan Saham Perseroan Berdasarkan Status Kepemilikan
Composition of Company’s Shares Ownership Based on Ownership Status

                                            Per 1 Januari 2024                                          Per 31 Desember 2024
                                           Per January 1st, 2024                                        Per December 31st, 2024

     Uraian                Jumlah             Jumlah Saham            Persentase               Jumlah                           Persentase
                                                                                                             Jumlah Saham
   Description            Pemegang               (Lembar             Kepemilikan              Pemegang                         Kepemilikan
                                                                                                            (Lembar Saham)
                            Saham                 Saham)              Ownership                 Saham                           Ownership
                                                                                                              Total Shares
                             Total             Total Shares          Percentage                  Total                         Percentage
                                                                                                                (Shares)
                         Shareholders            (Shares)                 (%)                Shareholders                           (%)

 Institusi Lokal
                                40             5,436,354,331                92.418                 39         5,442,069,641            92.515
 Local Institution

 Institusi Asing
                                41               416,302,417                 7.077                 70          416,669,046              7.083
 Foreign Institution

 Individu Lokal
                             6,995                 29,680,752                0.505              6,955           23,592,013              0.401
 Local Individual

 Individu Asing
                                13                     15,500                0.000                 15               22,300              0.000
 Foreign Individual

 Jumlah / Total              7,089             5,882,353,000               100.000              7,079         5,882,353,000           100.000




Kepemilikan Saham Dewan Komisaris,                                              Shares Ownership of Board of
Direksi, dan Manajemen Eksekutif                                                Commissioners, Board of Directors, and
                                                                                Executive Management

Kebijakan Pengungkapan Informasi                                                Information Disclosure Policy
Berdasarkan Piagam Dewan Komisaris dan Direksi Perseroan,                       Based on the Company’s Board of Commissioners and Board of
setiap anggota Dewan Komisaris dan Direksi wajib melaporkan                     Directors Charter, members of the Board of Commissioners and
kepemilikan saham mereka beserta setiap perubahannya dalam                      Board of Directors are required to report their share ownership
waktu 2 hari kerja setelah tanggal transaksi. Selain itu, Komisaris             and any changes thereto within 2 working days after the
Independen juga dilarang memiliki saham di Perseroan.                           transaction date. Nevertheless, Independent Commissioners are
                                                                                prohibited from owning the Company’s shares.


Pengungkapan Kepemilikan Saham                                                  Disclosure of Share Ownership
Pengungkapan kepemilikan saham di Perseroan oleh anggota                        Disclosure of the Company’s share ownership by members of
Dewan Komisaris, Direksi, dan Manajemen Eksekutif pada awal                     the Board of Commissioners, Board of Directors, and Executive
dan akhir tahun 2024 disajikan dalam tabel berikut.                             Management at the beginning and end of 2024 is presented in
                                                                                the following table.


                                                                                                    Jumlah Saham (Lembar Saham)
                                                                                                        Total Shares (Shares)
              Nama                                      Jabatan
              Name                                      Position
                                                                                              Per 1 Januari 2024   Per 31 Desember 2024
                                                                                             Per January 1st, 2024 Per December 31st, 2024

 Bonifasius                      Presiden Direktur / President Director                                 -                         -

 Haris Mustarto*)                Wakil Presiden Direktur / Vice of President Director                   -                         -

 Raden Utoro                     Direktur / Director                                                    -                         -

 Yoghi Nuswantoro                Direktur / Director                                                    -                         -

 Suhendra                        Direktur / Director                                                    -                         -

 Paulus Yuniardi                 Direktur / Director                                                    -                         -

 Lokita Prasetya                 Presiden Komisaris / President Commissioner                            -                         -

 Achmad Ananda Djajanegara       Wakil Presiden Komisaris / Vice of President Commissioner              -                         -

 Alex Sutanto                    Komisaris / Commissioner                                               -                         -

 Feriwan Sinatra                 Komisaris / Commissioner                                               -                         -

 Bambang Setiawan                Komisaris Independen / Independent Commissioner                        -                         -

 Ketut Sanjaya                   Komisaris Independen / Independent Commissioner                        -                         -



 38           PT Golden Energy Mines Tbk
Page 41
                                                                                                                                           Company Profile




                                                                                                     Jumlah Saham (Lembar Saham)
                                                                                                         Total Shares (Shares)
              Nama                                                  Jabatan
              Name                                                  Position
                                                                                             Per 1 Januari 2024   Per 31 Desember 2024
                                                                                            Per January 1st, 2024 Per December 31st, 2024

 Riadi Pinem                          BIB Mining Head                                                    -                                 -

 Herbin Sitorus                       Sumatra Area Mining Head                                           -                                 -

 Yuyu Gumilar                         KIM Block Mining Head                                           500                               500

 Retno Nartani                        HSE Division Head                                                  -                                 -

 Hartana                              Compliance, License & Administration Division Head              500                               500

 Paulus Swasono Satyo Nugroho Chief Human Resources                                                      -                                 -

 Giovanny Sientoro                    Marketing & Trading Division Head                                  -                                 -

 Vikram Ramchandani S                 Finance & Accounting I Division Head                               -                                 -

 Benny Kurniawan                      Finance & Accounting II Division Head                           500                               500

 Mery                                 Finance & Accounting III Division Head                          500                               500

 Harlyn Sianturi                      Corporate Risk Management Head                                     -                                 -

 Sudin SH                             Corporate Secretary                                             500                               500

 Dedy Susanto                         Head of Internal Audit                                          500                               500

 Benedicta Christi Harmiandari        Legal Operation Division Head                                   500                               500

 Didit Pramadi                        Chief Project Officer                                              -                                 -

 Mia Febrina                          Head of Sustainability                                             -                                 -

 Risetiyawan Dimas Sutejo             Head of Digital & Technology Solutions                             -                                 -

 Petra Parulian                       BSL Mining Head                                                    -                                 -

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14 , 2025.
                                                               th




Kronologi Pencatatan Saham
Stock Listing Chronology

Perseroan mencatatkan saham perdana di Bursa Efek Indonesia                       The Company listed its initial shares on Indonesia Stock Exchange
pada 17 November 2011. Adapun kronologi pencatatan saham                          on November 17th, 2011. The chronology of the Company’s share
Perseroan hingga 31 Desember 2024 disajikan sebagai berikut.                      listing until December 31st, 2024 is presented as follows.


                                                   Jumlah Saham                                                          Jumlah Saham Beredar
                                                                                                      Harga
                                                     Diterbitkan               Harga Nominal                                (Lembar Saham)
               Uraian                                                                              Penawaran
                                                  (Lembar Saham)               Nominal Price                               Total Outstanding
             Description                                                                          Offering Price
                                                 Total Shares Issued                (Rp)                                         Shares
                                                                                                       (Rp)
                                                       (Shares)                                                                 (Shares)

 Saham Pendiri
                                                       5,000,000,000                100                      -                    5,000,000,000
 Founder Shares

 Penawaran Umum Saham Perdana
                                                         882,353,000                100                2,500                      5,882,353,000
 Initial Public Offering




Kronologi Pencatatan Efek Lainnya
Other Securities Listing Chronology

Perseroan tidak menerbitkan efek selain saham di tahun 2024,                      The Company did not issue securities other than shares in 2024,
seperti obligasi, obligasi konversi, dan sukuk, di bursa mana                     such as bonds, convertible bonds, and sukuk, on any exchange.
pun. Oleh karena itu, tidak terdapat informasi terkait kronologi                  Therefore, there is no information related to the chronology of
pencatatan efek lainnya dalam Laporan Tahunan ini.                                other securities listing in this Annual Report.



                                                                                                             Laporan Tahunan 2024 Annual Report     39
Page 42
Profil Perusahaan




Pemegang Saham Utama dan Pengendali
Majority and Controlling Shareholders



Hingga 31 Desember 2024, Pemegang Saham Utama Perseroan                                   As of December 31st, 2024, the Company’s Majority Shareholder
adalah PT Dian Swastatika Sentosa Tbk dan PT Radhika                                      is PT Dian Swastatika Sentosa Tbk and PT Radhika Jananta Raya.
Jananta Raya.



     59.900%                           40.100%                                                                       53.599%                25.511%                  20.930%

                                 Masyarakat dan/atau                                                                 PT Tiara
                                                                                                                                           Valle Verde           Masyarakat
PT Sinar Mas Tunggal               Saham Treasury                                                                     Marga
                                                                                                                                            Pte. Ltd.              Public
                                Public and/or Treasury                                                               Trakindo




                                                                                                                     99.900%

                                                                                                                     PT ABM
                                                                                                                    Investama
                                                                                                                      Tbk****



                                                                                                                     99.900%

                                                                                                                    PT Reswara
                                                                                                                     Minergi
                                                                                                                     Hartama



                     51.000%                    6.990%                   1.620%                10.390%               30.000%

                       PT Dian               Golden Energy
                                                                      PT Sinar Mas            Masyarakat            PT Radhika
                     Swastatika              and Resources
                                                                      Cakrawala ***             Public             Jananta Raya
                    Sentosa Tbk**              Pte. Ltd.***




                                                  PT Golden Energy Mines Tbk*

  * Pengendali Perseroan adalah Bapak Franky Oesman Widjaja dan Bapak Indra Widjaja. / The Controllers of the Company are Mr. Franky Oesman Widjaja and Mr. Indra Widjaja.
 ** Pengendali PT Dian Swastatika Sentosa Tbk adalah Bapak Franky Oesman Widjaja. / The Controller of PT Dian Swastatika Sentosa Tbk is Mr. Franky Oesman Widjaja.
*** Pengendali Golden Energy and Resources Pte. Ltd. dan PT Sinar Mas Cakrawala adalah Bapak Indra Widjaja. / The Controller of Golden Energy and Resources Pte. Ltd. and
    PT Sinar Mas Cakrawala is Mr. Indra Widjaja.
**** Pengendali PT ABM Investama Tbk adalah Bapak Rachmat Mulyana Hamami, Bapak Rachmat Sobari Hamami, Ibu Mivida Hamami, dan Ibu Ana Solana Hamami. / The Controllers
     of PT ABM Investama Tbk are Mr. Rachmat Mulyana Hamami, Mr. Rachmat Sobari Hamami, Mrs. Mivida Hamami, and Mrs. Ana Solana Hamami.




 40         PT Golden Energy Mines Tbk
Page 43
                                                                                                                                                          Company Profile




       Struktur Korporasi
       Corporate Structure



       Hingga saat ini, Perseroan tidak memiliki Perusahaan Asosiasi                          To date, the Company does not have any Associated Companies
       dan/atau Perusahaan Ventura di mana Perseroan memiliki                                 and/or Venture Companies in which the Company has joint
       pengendalian bersama. Adapun Entitas Anak yang dimiliki oleh                           control. The Subsidiaries owned by the Company, either directly
       Perseroan, baik secara langsung maupun tidak langsung, tercatat                        or indirectly, are recorded as many as 21 companies.
       sebanyak 21 perusahaan.



                                                                                PT Golden Energy Mines Tbk




                  99.9999%     99.0158%      99.0000%       99.9994%    100.0000%        99.9999%                   99.9998%                                     99.8700%


                                               GEMS                          GEMS                                                      0.1300%
                    DSU           RCI                         KMS                           TKS                          KIM                                        EMS
                                              ENERGY                          TR


                               0.0001%       1.0000%        0.0006%




                  99.0000%     99.0701%                     99.9000%        99.9412%     99.9917%        99.9991%   99.9948%           99.9999%        99.9999%       99.9999%



1.0000%             DSI           BIB                         KIS            TBBU           KCP            BBU           BHBA            BNP             BSA              WRL



                                                            0.1000%         0.0001%       0.0083%        0.0009%        0.0052%        0.0001%         0.0001%          0.0001%

                  94.7400%



4.6300%             BSL
                                                                               0.0587%                        99.9000%

                  0.6300%
                                                                                                                  BBM



99.0000%           UNSOCO         1.0000%                                                                0.1000%




       Keterangan / Remarks:

           RCI*           PT Roundhill Capital Indonesia            BIB**           PT Borneo Indobara                         BSA**       PT Berkat Satria Abadi
           KIM*           PT Kuansing Inti Makmur                   KCP**           PT Karya Cemerlang Persada                 KIS**       PT Kuansing Inti Sejahtera
           TKS*           PT Trisula Kencana Sakti                  BBU **          PT Bungo Bara Utama                        BBM**       PT Bungo Bara Makmur
           GEMS TR*       GEMS Trading Resources Pte Ltd            BHBA**          PT Bara Harmonis Batang Asam               DSU*        PT Dwikarya Sejati Utama
           KMS*           PT Karya Mining Solutions                 BNP**           PT Berkat Nusantara Permai                 DSI**       PT Duta Sarana Internusa
           GEMS
                          PT GEMS Energy Indonesia                  TBBU**          PT Tanjung Belit Bara Utama                BSL**       PT Barasentosa Lestari
           Energy*
           EMS*           PT Era Mitra Selaras                      WRL**           PT Wahana Rimba Lestari                    UNSOCO*     PT UNSOCO



       * Kepemilikan Langsung / Direct Ownership
       ** Kepemilikan Tidak Langsung / Indirect Ownership




                                                                                                                            Laporan Tahunan 2024 Annual Report        41
Page 44
Profil Perusahaan




Entitas Anak
Subsidiaries

                                                                                                  Persentase                Tahun Operasi
                                                                                                               Jumlah
                                                                                                 Kepemilikan                  Komersial
  Entitas Anak                   Alamat                             Bidang Usaha                                 Aset
                                                                                                 Ownership                     Year of
  Subsidiaries                   Address                           Line of Business                          Total Assets
                                                                                                 Percentage                  Commercial
                                                                                                                (USD)
                                                                                                      (%)                    Operations

Kepemilikan Langsung / Direct Ownership
                                                           Penyertaan Saham dan
                     Sinar Mas Land Plaza Tower II Lt. 7
PT Roundhill                                               Perdagangan Besar
                     Jl. MH Thamrin No. 51                                                         99.0158    790,237,063         2014
Capital Indonesia                                          Equity Participation and
                     Jakarta Pusat 10350, Indonesia
                                                           Wholesale Trading
PT Kuansing Inti     Desa Tanjung Belit, Jujuhan           Pertambangan Batu bara
                                                                                                   99.9998      97,869039         2005
Makmur               Kab. Bungo, Jambi, Indonesia          Coal Mining
                     Jl. Panti Ajar No. 63 RT 06/RW 13
PT Trisula           Kel. Lanjas, Kec. Teweh Tengah        Pertambangan Batu bara
                                                                                                   99.9999      7,811,492         2008
Kencana Sakti        Kab. Barito Utara, Muara Teweh        Coal Mining
                     Kalimantan Tengah, Indonesia
GEMS Trading        One Raffles Place #28-02, Tower 1      Perdagangan Besar
                                                                                                  100.0000      9,675,768         2012
Resources Pte. Ltd. Singapore (048616)                     Wholesale Trading
                     Sinar Mas Land Plaza Tower II Lt. 6
PT Karya Mining                                            Jasa Pertambangan                                                Belum Beroperasi
                     Jl. M.H. Thamrin No. 51                                                       99.9994     19,370,783
Solutions                                                  Mining Services                                                  Not Yet Operating
                     Jakarta Pusat 10350, Indonesia
                                                           Perdagangan, Pembangunan, Industri,
                     Sinar Mas Land Plaza Tower II Lt. 6
PT GEMS Energy                                             Jasa, dan Pengangkutan Darat                                     Belum Beroperasi
                     Jl. M.H. Thamrin No. 51                                                       99.0000        125,698
Indonesia                                                  Trade, Construction, Industry,                                   Not Yet Operating
                     Jakarta Pusat 10350, Indonesia
                                                           Services, and Land Transportation
                     Sinar Mas Land Plaza Tower II Lt. 6
PT Era Mitra                                               Penyertaan Saham                                                 Belum Beroperasi
                     Jl. M.H. Thamrin No. 51                                                       99.8700        980,893
Selaras                                                    Equity Participation                                             Not Yet Operating
                     Jakarta Pusat 10350, Indonesia
                                                           Modal Ventura dan Jasa Konsultasi
                     Sinar Mas Land Plaza Tower II Lt. 6
PT Dwikarya Sejati                                         Manajemen                                                        Belum Beroperasi
                     Jl. M.H. Thamrin No. 51                                                       99.9999    132,659,934
Utama                                                      Venture Capital and Management                                   Not Yet Operating
                     Jakarta Pusat 10350, Indonesia
                                                           Consultancy Services
                     Sinar Mas Land Plaza Tower II Lt. 6
                                                           Jasa Konsultasi Manajemen                                        Belum Beroperasi
PT UNSOCO            Jl. M.H. Thamrin No. 51                                                       99.0000         73,100
                                                           Management Consultancy Services                                  Not Yet Operating
                     Jakarta Pusat 10350, Indonesia
Kepemilikan Tidak Langsung / Indirect Ownership
PT Borneo           Sinar Mas Land Plaza Tower II Lt. 7
                                                           Pertambangan Batu bara
Indobara (melalui / Jl. M.H. Thamrin No. 51                                                        99.0701    788,431,146         2005
                                                           Coal Mining
through RCI)        Jakarta Pusat 10350, Indonesia
PT Karya Cemerlang
                   Desa Tanjung Belit, Jujuhan             Pertambangan Batu bara
Persada (melalui /                                                                                 99.9917      7,742,554         2011
                   Kab. Bungo, Jambi, Indonesia            Coal Mining
through KIM)
                     Jl. Rangkayo Hitam RT 014/RW 005
PT Bungo Bara
                     Kel. Bungo Timur,                     Pertambangan Batu bara
Utama (melalui /                                                                                   99.9991     47,037,443         2017
                     Kec. Pasar Muara Bungo                Coal Mining
through KIM)
                     Kab. Bungo, Jambi, Indonesia
PT Bara Harmonis
Batang Asam        Desa Ujung Tanjung, Jujuhan             Pertambangan Batu bara
                                                                                                   99.9948      1,541,499         2010
(melalui / through Kab. Bungo, Jambi, Indonesia            Coal Mining
KIM)
PT Berkat
Nusantara Permai Desa Tanjung Belit, Jujuhan               Pertambangan Batu bara                                           Belum Beroperasi
                                                                                                   99.9999     19,964,443
(melalui / through Kab. Bungo, Jambi, Indonesia            Coal Mining                                                      Not Yet Operating
KIM)
PT Tanjung Belit     Jl. Rangkayo Hitam RT 014/RW 005
Bara Utama           Kel. Bungo Timur,                     Pertambangan Batu bara                                           Belum Beroperasi
                                                                                                   99.9412     22,893,144
(melalui / through   Kec. Pasar Muara Bungo                Coal Mining                                                      Not Yet Operating
KIM)                 Kab. Bungo, Jambi, Indonesia
PT Wahana Rimba
                   Sinar Mas Land Plaza Tower II Lt. 6
Lestari (melalui /                                         Pertambangan Batu bara                                           Belum Beroperasi
                   Jl. M.H. Thamrin No. 51                                                         99.9999        806,214
through EMS dan /                                          Coal Mining                                                      Not Yet Operating
                   Jakarta Pusat 10350, Indonesia
and KIM)
PT Berkat Satria
                  Sinar Mas Land Plaza Tower II Lt. 6
Abadi (melalui /                                           Pertambangan Batu bara                                           Belum Beroperasi
                  Jl. M.H. Thamrin No. 51                                                          99.9999        172,133
through EMS dan /                                          Coal Mining                                                      Not Yet Operating
                  Jakarta Pusat 10350, Indonesia
and melalui KIM)



 42        PT Golden Energy Mines Tbk
Page 45
                                                                                                                                      Company Profile




                                                                                                 Persentase                      Tahun Operasi
                                                                                                              Jumlah
                                                                                                Kepemilikan                        Komersial
 Entitas Anak                    Alamat                             Bidang Usaha                                Aset
                                                                                                Ownership                           Year of
 Subsidiaries                    Address                           Line of Business                         Total Assets
                                                                                                Percentage                        Commercial
                                                                                                               (USD)
                                                                                                     (%)                          Operations

PT Kuansing Inti
                     Desa Ujung Tanjung, Jujuhan           Pertambangan Batu bara                                                Belum Beroperasi
Sejahtera (melalui /                                                                              99.9000           373,053
                     Kab. Bungo, Jambi, Indonesia          Coal Mining                                                           Not Yet Operating
through KIM)

PT Bungo Bara        Jl. Rangkayo Hitam RT 014/RW 005
Makmur (melalui /    Kel. Bungo Timur, Kec. Pasar Muara Pertambangan Batu bara
                                                                                                  99.9000        15,728,184             2019
through KIM dan /    Bungo                              Coal Mining
and BBU)             Kab. Bungo, Jambi, Indonesia
PT Duta Sarana       Sinar Mas Land Plaza Tower II Lt. 6
                                                           Jasa Konsultasi Manajemen                                             Belum Beroperasi
Internusa (melalui / Jl. M.H. Thamrin No. 51                                                      99.0000       132,654,956
                                                           Management Consultancy Services                                       Not Yet Operating
through DSU)         Jakarta Pusat 10350, Indonesia
PT Barasentosa                                             Pertambangan Batubara dan
                     Sinar Mas Land Plaza Tower II Lt. 6
Lestari (melalui /                                         Pembangkit Listrik Mulut Tambang
                     Jl. M.H. Thamrin No. 51                                                      94.7400       132,590,047             2015
through DSI dan /                                          Coal Mining and Mining Mouth Power
                     Jakarta Pusat 10350, Indonesia
and UNSOCO)                                                Plants




Lembaga Penunjang Pasar Modal
Capital Market Supporting Institutions

     Profesi                                                                                                                       Periode
   Penunjang             Nama                       Alamat                       Jasa yang Diberikan            Biaya            Penugasan
   Supporting            Name                       Address                       Services Provided              Fee             Assignment
   Profession                                                                                                                      Period

Kantor Akuntan        Mirawati Sensi   Intiland Tower Lt. 7               Audit Laporan Keuangan Perseroan 3,415,000,000              2024
Publik                Idris (member    Jl. Jenderal Sudirman Kav. 32      untuk periode 31 Desember 2024
Public Accounting     of Moore         Jakarta 10220, Indonesia           dan Penelaahan Terbatas Laporan
Firm                  Global)          T : (021) 570 8111                 Keuangan Perseroan untuk periode
                                       F : (021) 570 8012                 31 Maret 2024, 30 Juni 2024 dan
                                       W : www.moore-global.com           30 September 2024.
                                                                          Audit of the Company's Financial
                                                                          Statements      for    the     period
                                                                          December 31st, 2024 and Limited
                                                                          Review of the Company's Financial
                                                                          Statements      for    the     period
                                                                          March 31st, 2024, June 30th, 2024 and
                                                                          September 30th, 2024.
Notaris               Hannywati        Jl. Mangga Besar V No. 10          Pembuatan akta dan legalisir 1,045,750,001                  2024
Notary                Gunawan, SH      Jakarta Barat 11180, Indonesia     dokumen milik Perseroan dan Entitas
                                       T : (021) 624 1822                 Anak.
                                       F : (021) 624 1730                 Preparation of deeds and legalization
                                       E : hannywatigunawan@ymail.com     service to the documents of the
                                                                          Company and its Subsidiaries.
Biro                  PT Sinartama     Menara Tekno Lt. 7                 Pencatatan perdagangan saham dan     122,377,724            2024
Administrasi          Gunita           Jl. Fachrudin No. 19               pembagian dividen.
Efek                                   Jakarta Pusat 10250, Indonesia     Stock trading administration and
Securities                             T : (021) 392 2332                 dividend payment services.
Administration                         F : (021) 392 3003
Bureau                                 E : helpdesk1@sinartama.co.id
                                       W : www.sinartama.co.id

Fasilitas Perbankan
Banking Facilities

     Bank Pemberi Kredit                                          Fasilitas                                        Batas Kredit
        Bank Lender                                               Facilities                                       Credit Limit

 PT Bank Danamon Indonesia Tbk           Omnibus Trade Non-Cash Backed                                                  USD5,000,000
                                         Perjanjian Sindikasi / Syndication Agreement                                USD160,000,000
 PT Bank Mandiri (Persero) Tbk           BIB Modal Kerja / BIB Working Capital                                  Rp2,050,000,000,000
                                         BSL Modal Kerja / BSL Working Capital                                    Rp150,000,000,000
                                         BIB Modal Kerja / BIB Working Capital                                  Rp2,200,000,000,000
 PT Bank Rakyat Indonesia
                                         BSL Modal Kerja / BSL Working Capital                                    Rp225,000,000,000



                                                                                                        Laporan Tahunan 2024 Annual Report     43
Page 46
Profil Perusahaan




      Bank Pemberi Kredit                                        Fasilitas                                              Batas Kredit
         Bank Lender                                             Facilities                                             Credit Limit

                                          BIB Modal Kerja / BIB Working Capital                                      Rp1,950,000,000,000
 PT Bank Negara Indonesia
                                          BSL Modal Kerja / BSL Working Capital                                        Rp225,000,000,000
 Indonesia Eximbank / Lembaga
                                          BIB Modal Kerja / BIB Working Capital                                             USD5,000,000
 Pembiayaan Ekspor Indonesia


Sepanjang tahun 2024, Perseroan bersama Entitas Anak telah                        Throughout 2024, the Company and its Subsidiaries fulfilled
memenuhi kewajiban untuk menjaga rasio keuangan yang                              their obligations to maintain the financial ratios required by the
disyaratkan oleh fasilitas perbankan di atas, serta memenuhi                      banking facilities above, and fulfilled all other obligations to
seluruh kewajiban lainnya sehingga hak-hak kreditur terjamin.                     guarantee creditors’ rights.




Informasi pada Situs Web Perusahaan
Information on Company’s Website


Informasi terkait Perseroan dapat diakses melalui situs web                       Information related to the Company can be accessed through
www.goldenenergymines.com. Situs web ini menyediakan                              the website www.goldenenergymines.com. This website provides
informasi yang relevan bagi Pemegang Saham dan pemangku                           relevant information for Shareholders and other stakeholders,
kepentingan lainnya, serta memenuhi ketentuan Peraturan                           and meets the provisions of the Financial Services Authority
Otoritas Jasa Keuangan No. 8/POJK.04/2015 tentang Situs Web                       Regulation No. 8/POJK.04/2015 on the Website of Issuers or
Emiten atau Perusahaan Publik.                                                    Public Companies.


               Uraian                      Ketersediaan                                             Keterangan
             Description                    Availability                                             Remarks

 Informasi Pemegang Saham sampai                               Terdapat pada halaman Informasi Umum > Struktur Pemegang Saham > Pemegang
 dengan Pemilik Akhir Individu                                 Saham Utama dan/atau Pengendali.
 Information on Shareholders up to the                         Available on the General Information page > Shareholders Structure > Majority and/or
 Ultimate Individual Owner                                     Controlling Shareholders.
 Struktur Grup Perusahaan                                      Terdapat pada halaman Informasi Umum > Struktur Pemegang Saham > Struktur Perseroan.
 Corporate Group Structure                                     Available on the General Information page > Shareholders Structure > Company Structure.
 Analisa Kinerja Keuangan                                      Terdapat pada halaman Hubungan Investor > Informasi Keuangan > Ikhtisar Data Keuangan.
 Financial Performance Analysis                                Available on Investor Relations page > Financial Information > Financial Highlights.
 Isi Kode Etik                                                 Terdapat pada halaman Tata Kelola Perusahaan > Kode Etik.
 Contents of Code Conduct                                      Available on Corporate Governance page > Code of Conduct.
 Rapat Umum Pemegang Saham                                     Terdapat pada halaman Hubungan Investor > Rapat Umum Pemegang Saham.
 General Meeting of Shareholders                               Available on Investor Relations page > General Meeting of Shareholders.
 Laporan Keuangan Tahunan                                      Terdapat pada halaman Hubungan Investor > Informasi Keuangan > Laporan Keuangan.
 (5 tahun terakhir)
 Annual Financial Statements                                   Available on Investor Relations page > Financial Information > Financial Statements.
 (last 5 years)
 Profil Dewan Komisaris dan Direksi                            Terdapat pada halaman Informasi Umum > Dewan Komisaris dan Direksi.
 Profile of Board of Commissioners and                         Available on General Information page > Board of Commissioners and Board of Directors.
 Board of Directors
 Piagam Dewan Komisaris, Direksi,                              • Piagam Dewan Komisaris dan Direksi
 Komite-Komite, dan Unit Audit Internal                          Board of Commissioners and Board of Directors Charter
 Board Charter of Board of                                       Terdapat pada halaman Tata Kelola Perusahaan > Pedoman Kerja Dewan Komisaris dan
 Commissioners, Board of Directors,                              Direksi.
 Charter of Committees, and                                      Available on Corporate Governance page > Board of Commissioners and Board of
 Internal Audit Unit                                             Directors Charter.
                                                               • Piagam Komite Audit
                                                                 Audit Committee Charter
                                                                 Terdapat pada halaman Tata Kelola Perusahaan > Pedoman Kerja Komite Audit.
                                                                 Available on Corporate Governance page > Audit Committee Charter.
                                                               • Piagam Audit Internal
                                                                 Internal Audit Charter
                                                                 Terdapat pada halaman Tata Kelola Perusahaan > Piagam Unit Audit Internal.
                                                                 Available on Corporate Governance page > Internal Audit Charter.




 44        PT Golden Energy Mines Tbk
Page 47
                                                                                                          Management Discussion and Analysis




ANALISIS DAN PEMBAHASAN MANAJEMEN
Management Discussion and Analysis

Tinjauan Operasional
Operational Overview
Dengan cakupan operasional yang luas, Perseroan mengelola                With a wide operational coverage, the Company manages
5 wilayah konsesi di Kalimantan Selatan, Jambi, Kalimantan               5 concession areas in South Kalimantan, Jambi, Central
Tengah, dan Sumatra Selatan. Wilayah ini diwakili oleh BIB, KIM          Kalimantan, and South Sumatra. These areas are represented by
beserta Entitas Anaknya, TKS, WRL dan BSA, serta BSL.                    BIB, KIM, and its Subsidiaries, TKS, WRL, BSA, and BSL.



Proses Produksi                                                          Production Process

Perseroan menjalankan kegiatan usaha di bidang pertambangan              The Company carries out business activities in the field of
dan perdagangan batu bara. Alur produksi konsesi tambang                 coal mining and trading. The Company’s mining concession
Perseroan disajikan sebagai berikut.                                     production flow is presented as follows.


                       Waste Dump Area                      Banksoil / Spreading (Topsoil)                       Revegetation




                 Land Clearing, Topsoil Removal             Topsoil / Overburden Removal                          Coal Mining




           Coal Hauling                    Port Stockpile        Crush Coal                                      Barge Loading




    Pit to ROM               ROM to Port


                                                                                                                 Transshipment




                                                                                                Laporan Tahunan 2024 Annual Report    45
Page 48
Analisis dan Pembahasan Manajemen




Pencapaian Kinerja Operasional                                                     Operational Performance Achievement

Volume produksi tahun 2024 mencapai 50,69 juta ton, mengalami                      The production volume in 2024 reached 50.69 million tons,
peningkatan sebesar 9,91% dibandingkan tahun 2023 yang                             an increase of 9.91% compared to 46.12 million tons in 2023.
tercatat sebesar 46,12 juta ton. Dari total volume produksi                        Of the total production volume, BIB contributed 92.33% or 46.80
tersebut, BIB menyumbang 92,33% atau 46,80 juta ton, diikuti                       million tons, followed by KIM at 4.64% or 2.35 million tons,
oleh KIM sebesar 4,64% atau 2,35 juta ton, serta BSL sebesar                       and BSL at 3.04% or 1.54 million tons.
3,04% atau 1,54 juta ton.


Sementara itu, volume penjualan mengalami peningkatan                              Meanwhile, the sales volume increased by 4.97 million tons or
sebesar 4,97 juta ton atau 10,60%, dari tahun 2023 sebesar                         10.60%, from 46.89 million tons in 2023 to 51.86 million tons
46,89 juta ton menjadi 51,86 juta ton di tahun 2024.                               in 2024.

Volume Produksi
Production Volume
                                                                                                                                       jutaan ton / million tons

                                                                                                                              Pertumbuhan
               Perusahaan
                                                            2024                              2023                               Growth
                Company
                                                                                                                                   (%)

 BIB                                                        46.80                               42.14                                 11.06

 KIM                                                          2.35                               2.45                                 (4.08)

 BSL                                                          1.54                               1.53                                  0.65

 Total                                                      50.69                               46.12                                  9.91



Volume Penjualan
Sales Volume
                                                                                                                                       jutaan ton / million tons

                                                                                                                              Pertumbuhan
               Perusahaan
                                                            2024                              2023                               Growth
                Company
                                                                                                                                   (%)

 BIB                                                        47.35                               42.32                                 11.89

 KIM                                                          2.39                               2.26                                  5.75

 BSL                                                          1.63                               1.62                                  0.62

 Trading                                                      0.49                               0.69                             (28.99)

 Total                                                      51.86                               46.89                                 10.60




  Volume Produksi                                                                    Volume Penjualan
  Production Volume                                                                  Sales Volume
                                              dalam jutaan ton / in million tons                                         dalam jutaan ton / in million tons
       42.14


                 46.80




                                2.45


                                       2.35




                                                               1.53


                                                                        1.54




                                                                                      42.32


                                                                                              47.35


                                                                                                        2.26


                                                                                                                2.39


                                                                                                                       1.62


                                                                                                                               1.63


                                                                                                                                               0.69


                                                                                                                                                       0.49




           BIB                     KIM                            BSL                     BIB              KIM            BSL                  Trading
                            2023            2024                                                               2023     2024



 46            PT Golden Energy Mines Tbk
Page 49
                                                                                                       Management Discussion and Analysis




Tinjauan Pasar
Market Overview



Permintaan batu bara global pada tahun 2024 mencapai                Global coal demand in 2024 reached 8.77 billion tons, marking
8,77 miliar ton, menandai rekor tertinggi sepanjang sejarah.        the highest record in history. The International Energy
International Energy Agency (IEA) mencatat bahwa konsumsi           Agency (IEA) recorded that coal consumption remained high,
batu bara tetap tinggi, terutama didorong oleh kebutuhan listrik    mainly driven by electricity demand in Asia. China and India were
di Asia. Tiongkok dan India masih menjadi konsumen terbesar,        still the largest consumers, with coal consumption growth of 1%
dengan pertumbuhan konsumsi batu bara masing-masing sebesar         and 5%, respectively, compared to those of the previous year.
1% dan 5% dibandingkan tahun sebelumnya. Sementara itu,             Meanwhile, the United States and European Union experienced a
Amerika Serikat dan Uni Eropa mengalami penurunan konsumsi          decline in coal consumption of around 12% and 5%, respectively,
batu bara sekitar 12% dan 5%, seiring dengan kebijakan transisi     in line with energy transition policies and massive investments in
energi dan investasi besar-besaran dalam energi terbarukan.         renewable energy.


Di sisi produksi, Indonesia mencatat total produksi batu bara       On the production side, Indonesia recorded a total coal production
sebesar 836 juta ton hingga akhir 2024, melampaui target            of 836 million tons by the end of 2024, exceeding the target set
yang ditetapkan dalam Rencana Kerja Pemerintah sebesar              in the Government Work Plan of 710 million tons. Of this amount,
710 juta ton. Dari jumlah tersebut, 233 juta ton dialokasikan       233 million tons were allocated for domestic demand, while
untuk kebutuhan domestik, sementara 555 juta ton diekspor ke        555 million tons were exported to various countries, with China,
berbagai negara, dengan Tiongkok, India, dan Vietnam sebagai        India, and Vietnam as the main markets. This export volume
pasar utama. Volume ekspor ini berkontribusi sekitar 33-35% dari    contributed around 33-35% of global coal consumption.
konsumsi batu bara global.


Dari segi harga, harga batu bara acuan (HBA) Indonesia              In terms of price, Indonesia’s reference coal price (HBA) was
mengalami fluktuasi sepanjang tahun. Pada bulan Desember            fluctuating throughout the year. In December 2024, HBA was
2024, HBA ditetapkan sebesar USD122,51 per ton turun                set at USD122.51 per ton, a decrease from the previous year's
dibandingkan tahun sebelumnya yang tercatat USD201,15               USD201.15 per ton, due to the increase in global supply and the
per ton, karena peningkatan pasokan global dan peralihan ke         shift to renewable energy in several countries.
energi terbarukan di beberapa negara.


Dari sisi penerimaan negara, Penerimaan Negara Bukan Pajak          In terms of state revenue, Non-Tax State Revenue (PNBP) from
(PNBP) sektor energi dan sumber daya mineral (ESDM) tahun           the energy and mineral resources (ESDM) sector in 2024 reached
2024 mencapai Rp295,5 triliun, atau 110% dari target Anggaran       Rp295.5 trillion, or 110% of the State Budget (APBN) target.
Pendapatan dan Belanja Negara (APBN). Kontribusi terbesar           The largest contribution came from coal sector revenue at 78%,
berasal dari 78% pendapatan sektor batu bara, yang tetap            which remained the main source of state revenue.
menjadi sumber utama pendapatan negara.


Namun, meskipun kinerja sektor batu bara masih kuat,                Nevertheless, despite coal sector’s strong performance,
tantangan di masa depan tetap ada, terutama akibat peningkatan      challenges still linger in the future, especially due to the
kebijakan transisi energi global dan investasi energi terbarukan.   increasing global energy transition policies and renewable
Proyeksi pasar global menunjukkan kemungkinan pelemahan             energy investments. Global market projections indicate
permintaan batu bara dalam jangka panjang, terutama di              a possible weakening of coal demand in the long term,
negara-negara yang telah menetapkan target net-zero emission.       especially in countries that have set net-zero emission targets.
Namun, di dalam negeri, kebutuhan batu bara masih akan              However, domestically, coal demand will still increase, especially
meningkat, terutama untuk mendukung proyek pembangkit               to support the ongoing 35 GW power plant project.
listrik 35 GW yang sedang berjalan.




                                                                                             Laporan Tahunan 2024 Annual Report    47
Page 50
Analisis dan Pembahasan Manajemen




Aspek Pemasaran
Marketing Aspect



Strategi Pemasaran                                                   Marketing Strategies

Berdasarkan laporan terbaru dari International Monetary              Based on the latest report from the International Monetary
Fund (IMF), ekonomi dunia diperkirakan tumbuh stabil sebesar         Fund (IMF), the world economy was expected to grow steadily
3,1% (yoy) pada tahun 2024, mempertahankan tingkat                   by 3.1% (yoy) in 2024, maintaining the same growth rate as the
pertumbuhan yang sama seperti tahun sebelumnya. Pertumbuhan          previous year’s. This growth was accompanied by an increase in
ini diiringi oleh peningkatan konsumsi energi global, termasuk       global energy consumption, including coal, which was projected
batu bara, yang diproyeksikan akan mencapai 8,57 miliar ton,         to reach 8.57 billion tons, an increase of around 0.8% compared
meningkat sekitar 0,8% dibandingkan tahun 2023.                      to that of 2023.


Pada awal tahun 2024, kebijakan perdagangan internasional            In early 2024, China’s international trade policy played
Tiongkok memainkan peran penting dalam dinamika pasar batu           a significant role in global coal market dynamics. China’s
bara global. Total impor batu bara Tiongkok di tahun 2024 tercatat   total coal imports in 2024 were recorded at 542 million tons,
sebesar 542 juta ton, dengan 176 juta ton berasal dari Rusia.        with 176 million tons coming from Russia. However, with the
Namun, dengan penerapan tarif impor baru serta peningkatan           implementation of new import tariffs and increasing domestic
konsumsi domestik, impor dari Rusia diperkirakan menurun.            consumption, imports from Russia are expected to decline.
Kondisi ini membuka peluang lebih besar bagi ekspor batu bara        This condition opens up greater opportunities for Indonesian
Indonesia ke Tiongkok, terutama untuk memenuhi kebutuhan             coal exports to China, especially to meet energy needs in coastal
energi di wilayah pesisir yang masih sangat bergantung pada          areas that are still highly dependent on coal.
batu bara.


India, sebagai pasar ekspor terbesar kedua setelah Tiongkok,         India, the second largest export market after China, recorded
mencatat impor sebesar 185 juta ton di tahun 2024, meningkat         imports of 185 million tons in 2024, an increase from
dari 171 juta ton pada tahun sebelumnya. Pertumbuhan                 171 million tons in the previous year. India’s energy demand
kebutuhan energi di India yang diproyeksikan mencapai 6% per         growth, projected to reach 6% per year until 2026, is an indication
tahun hingga 2026 menjadi indikasi bahwa negara ini masih            that the country is still highly dependent on coal, especially for
sangat bergantung pada batu bara, terutama untuk pembangkit          coal-based power plants which are expected to grow by 2.3%
listrik berbasis batu bara yang diperkirakan tumbuh sebesar 2,3%     per year. However, India’s coal import rate will depend on its
per tahun. Meski demikian, tingkat impor batu bara India akan        domestic production capacity, which is continuously being
bergantung pada kemampuan produksi domestik mereka, yang             increased to reduce dependence on imports.
terus berupaya ditingkatkan untuk mengurangi ketergantungan
terhadap impor.


Di kawasan Asia Tenggara sebagai pangsa pasar Perseroan,             In Southeast Asia region as the Company’s market share,
Vietnam menunjukkan pertumbuhan signifikan dalam konsumsi            Vietnam shows significant growth in coal consumption.
batu bara. Pada tahun 2024, impor batu bara Vietnam                  In 2024, Vietnam’s coal imports reached 64 million tons, an
mencapai 64 juta ton, naik 25% dari tahun sebelumnya. Tren           increase of 25% from that of the previous year. This trend is
ini diperkirakan akan terus berlanjut hingga tahun 2035, seiring     expected to continue until 2035, along with the growth of
dengan pertumbuhan sektor industri dan pembangkit listrik            their industrial and power generation sectors. Other Southeast
mereka. Negara-negara Asia Tenggara lainnya, seperti Thailand        Asian countries, such as Thailand and the Philippines, also show
dan Filipina, juga menunjukkan potensi sebagai pasar alternatif      potential as strategic alternative markets for Indonesia’s coal
yang strategis bagi ekspor batu bara Indonesia.                      exports.


Dengan dinamika pasar global yang terus berkembang, batu             With the global market dynamics being constantly developing,
bara Indonesia tetap menjadi komoditas unggulan, didukung            Indonesian coal remains a leading commodity, supported
oleh kualitas dan harga yang kompetitif. Tantangan seperti           by quality and competitive prices. Challenges such as the
pengembangan energi baru dan terbarukan di berbagai negara           development of new and renewable energy in various countries
mendorong industri batu bara untuk terus beradaptasi dan             encourage the coal industry to continue to adapt and seek new
mencari pasar-pasar baru yang potensial.                             potential markets.




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                                                                                                          Management Discussion and Analysis




Pangsa Pasar                                                           Market Share

Pada tahun 2024, pangsa pasar batu bara Perseroan dan Entitas          In 2024, the Company and Subsidiaries’ coal market share
Anak mencakup pasar domestik serta berbagai negara di Asia,            covered domestic market and various countries in Asia, including
termasuk Tiongkok, India, Korea Selatan, Filipina, Malaysia,           China, India, South Korea, the Philippines, Malaysia, Bangladesh,
Bangladesh, Vietnam, Kamboja, dan Hong Kong.                           Vietnam, Cambodia, and Hong Kong.


Di pasar domestik, Perseroan terus memperluas pangsa pasarnya          In the domestic market, the Company constantly expands its
dengan meningkatkan penjualan batu bara ke PLN dan/atau                market share by increasing coal sales to PLN and/or other
pembangkit listrik swasta lainnya. Selain itu, Perseroan juga          private power plants. In addition, the Company also strengthens
memperkuat posisinya dengan memasok batu bara ke proyek-               its position by supplying coal to smelter projects in Indonesia
proyek smelter di Indonesia melalui kontrak berjangka pendek           through short to long-term contracts.
hingga panjang.




Tinjauan Keuangan
Financial Overview


Ringkasan Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian
Summary of Consolidated Statements of Profit and Loss and Other
Comprehensive Income

                                                                                                                dalam jutaan USD / in million USD

                                                                                  % Selisih
                 Uraian                   2024                  2023                                           Description
                                                                                % Difference

 Pendapatan Usaha                        2,705.52           2,901.84                 (6.77)                                          Revenues

 Laba Bruto                              1,104.58           1,146.05                 (3.62)                                       Gross Profit

 Laba Usaha                                640.49               694.06               (7.72)                                  Operating Profit

 Laba Tahun Berjalan                       483.13               528.75               (8.63)                                Profit for the Year

 Pemilik Entitas Induk                     473.81               518.38               (8.60)                     Owners of the Parent Entity

 Kepentingan Non-Pengendali                  9.32                10.37             (10.13)                        Non-Controlling Interests

 Total Penghasilan Komprehensif                                                                               Total Comprehensive Income
                                           482.28               528.20               (8.69)
 Tahun Berjalan                                                                                                              for the Year

 Pemilik Entitas Induk                     473.41               517.15               (8.46)                     Owners of the Parent Entity

 Kepentingan Non-Pengendali                  8.87                11.05             (19.69)                        Non-Controlling Interests



Pendapatan Usaha                                                       Revenues
Pendapatan usaha pada tahun 2024 tercatat sebesar                      Revenues in 2024 were recorded at USD2,705.52 million,
USD2.705,52     juta,    mengalami     penurunan     sebesar           a decrease of 6.77% compared to the previous year of
6,77% dibandingkan tahun sebelumnya yang mencapai                      USD2,901.84 million. Meanwhile, sales volume in 2024 was higher
USD2.901,84 juta. Sementara itu, volume penjualan pada tahun           than in 2023, but the average selling price decreased by 8.86%
2024 lebih tinggi dibandingkan tahun 2023, namun harga jual            compared to the previous year’s. The composition of export and
rata-rata mengalami penurunan sebesar 8,86% dibandingkan               domestic sales reached 65.58% and 34.42%, respectively, of the
tahun sebelumnya. Komposisi penjualan ekspor dan domestik              Company’s total revenues.
masing-masing mencapai 65,58% dan 34,42% dari total
pendapatan usaha Perseroan.




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Penjualan Berdasarkan Lokasi Geografis
Sales By Geographical Location
                                                                                                                 dalam jutaan USD / in million USD

                                                                                                Pertumbuhan              Pertumbuhan
                                                                                                Pertambangan             Perdagangan
                                     2024                                 2023                    Batu Bara                Batu Bara
                                                                                                 Coal Mining             Coal Trading
   Uraian
                                                                                                   Growth                   Growth
 Description
                      Pertambangan          Perdagangan    Pertambangan Perdagangan juta USD                           juta USD
                        Batu Bara            Batu Bara       Batu Bara   Batu Bara   million                 %          million           %
                       Coal Mining          Coal Trading    Coal Mining Coal Trading  USD                                USD

 Lokal
                           908.49              22.65           844.73              26.65          63.76      7.55          (4.00)       (15.01)
 Local

 Ekspor
                          1,762.05             12.33          2,003.91             26.55        (241.86)   (12.07)       (14.22)        (53.56)
 Export

 Total
 Pendapatan
                          2,670.54             34.98          2,848.64             53.20        (178.10)    (6.25)       (18.22)        (53.25)
 Usaha
 Total Revenues

 Beban Pokok
 Penjualan                1,567.39             33.55          1,704.96             50.83        (137.57)    (8.07)       (17.28)        (34.00)
 Cost of Sales

 Laba Bruto
                          1,103.15              1.43          1,143.68              2.37         (40.53)    (3.54)         (0.94)       (39.66)
 Gross Profit




                 INDONESIA

     2024          USD931.14 juta / million

     2023          USD871.38 juta / million



           Tiongkok / China

     2024        USD1,250.07 juta / million

     2023         USD1,279.63 juta / million



                    INDIA

     2024          USD327.65 juta / million

     2023          USD510.79 juta / million



          Lain -Lain / Others

     2024          USD196.66 juta / million

     2023          USD240.04 juta / million




Segmen Pertambangan Batu Bara                                            Coal Mining Segment
Pendapatan usaha dari pertambangan batu bara pada tahun                  Revenues from coal mining in 2024 were recorded at
2024 tercatat sebesar USD2,670.54 juta, mengalami penurunan              USD2.670,54 million, a decrease of 6.25% or USD178.10 million
sebesar 6,25% atau USD178,10 juta dibandingkan tahun 2023                compared to USD2,846.64 million in 2023. This change was
yang mencapai USD2.846,64 juta. Perubahan ini dipengaruhi                influenced by a decrease in the average selling price per ton in
oleh penurunan harga jual rata-rata per ton pada tahun 2024              2024 of USD52.17, compared to the previous year's 15.69%.
sebesar USD52,17 dibandingkan tahun sebelumnya yang tercatat
sebesar 15,69%.



 50        PT Golden Energy Mines Tbk
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                                                                                                    Management Discussion and Analysis




Segmen Perdagangan Batu Bara                                     Coal Trading Segment
Pendapatan usaha dari segmen perdagangan pada tahun 2024         Revenues from the trading segment in 2024 decreased by
mengalami penurunan sebesar 34,24% atau USD18,22 juta            34.24% or USD18.22 million, compared to the previous year's
dibandingkan tahun sebelumnya yang mencapai USD53,20             USD53.20 million. This decrease was affected by the decrease
juta. Perubahan ini dipengaruhi oleh penurunan volume            in sales volume in 2024 by 27.54%, compared to that of the
penjualan pada tahun 2024 sebesar 27,54% dibandingkan tahun      previous year.
sebelumnya.


Beban Pokok Penjualan                                            Cost of Sales
Beban pokok penjualan pada tahun 2024 menurun sebesar            Cost of sales in 2024 decreased by USD154.85 million or 8.82%
USD154,85 juta atau 8,82% dari USD1.755,79 juta di tahun 2023    from USD1,755.79 million in 2023 to USD USD1,600.94 million.
menjadi USD1.600,94 juta. Penurunan ini terutama disebabkan      This decrease was mainly due to royalty fee of USD112.42 million
oleh beban iuran dana hasil produksi batu bara sebesar           and mining asset amortization cost of USD40.63 million.
USD112,42 juta dan beban amortisasi aset pertambangan
sebesar USD40,63 juta.


Laba Bruto                                                       Gross Profit
Laba bruto pada tahun 2024 mengalami penurunan sebesar           Gross profit in 2024 decreased by 3.62% or USD41.47 million
3,62% atau USD41,47 juta dari USD1.146,05 juta di tahun          from USD1,146.05 million in 2023 to USD1,104.58 million.
2023 menjadi USD1.104,58 juta. Namun demikian, margin laba       Nevertheless, gross profit margin was recorded to increase to
bruto tercatat meningkat menjadi 40,83%, dibandingkan tahun      40.83%, compared to the previous year of 39.49%.
sebelumnya yang mencapai 39,49%.


Beban Penjualan                                                  Selling Expenses
Beban penjualan pada tahun 2024 menurun sebesar 6,88%            Selling expenses in 2024 decreased by 6.88% or
atau USD21,76 juta dari USD316,46 juta di tahun 2023 menjadi     USD21.76 million from USD316.46 million in 2023 to USD294.70
USD294,70 juta. Perubahan ini terutama disebabkan oleh beban     million. This change was mainly caused by freight costs of
ongkos angkut sebesar USD16,89 juta dan jasa stockpile sebesar   USD16.89 million and stockpile services of USD5.36 million.
USD5,36 juta.


Beban Umum dan Administrasi                                      General and Administrative Expenses
Beban umum dan administrasi pada tahun 2024 mencapai             General and administrative expenses in 2024 were recorded
USD168,89 juta, mengalami kenaikan sebesar 25,01% atau           at USD168.89 million, an increase of 25.01% or USD33.78
USD33,78 juta dibandingkan tahun sebelumnya sebesar              million compared to the previous year of USD135.11 million.
USD135,11 juta. Peningkatan ini terutama disebabkan oleh         This increase was mainly due to tax expenses, licensing, and
beban pajak, perizinan, dan jasa profesional.                    professional services.


Laba Sebelum Pajak Penghasilan Badan                             Profit Before Corporate Income Tax
Perseroan mencatat laba sebelum pajak penghasilan badan          The Company recorded profit before corporate income tax of
sebesar USD635,76 juta pada tahun 2024 dan USD682,98 juta        USD635.76 million in 2024 and USD682.98 million in 2023. Profit
pada tahun 2023. Margin laba sebelum pajak penghasilan badan     margin before corporate income tax for 2024 and 2023 were
untuk tahun 2024 dan 2023 masing-masing sebesar 23,50% dan       23.50% and 23.54%, respectively.
23,54%.


Total Penghasilan Komprehensif                                   Total Comprehensive Income for the Year
Tahun Berjalan
Total penghasilan komprehensif tahun berjalan pada tahun         Total comprehensive income for the year in 2024 was recorded
2024 tercatat sebesar USD482,28 juta, mengalami penurunan        at USD482.28 million, experiencing a decrease of 8.69% or
sebesar 8,69% atau USD45,92 juta dibandingkan dengan             USD45.92 million compared to USD528.20 million in 2023.
USD528,20 juta di tahun 2023.


Laba Sebelum Bunga, Pajak, dan                                   Earnings Before Interest, Tax, and
Penyusutan (EBITDA)                                              Depreciation (EBITDA)
Perseroan mencatat EBITDA sebesar USD682,22 juta pada            The Company recorded EBITDA of USD682.22 million in 2024, a
tahun 2024, menurun dibandingkan tahun 2023 yang mencapai        decrease compared to that of 2023, which reached USD739.24
USD739,24 juta. Margin EBITDA juga mengalami penurunan           million. EBITDA margin also decreased to 25.22%, compared to
menjadi 25,22%, dibandingkan 25,47% pada tahun sebelumnya.       25.47% in the previous year.




                                                                                          Laporan Tahunan 2024 Annual Report    51
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Analisis dan Pembahasan Manajemen




Ringkasan Laporan Posisi Keuangan Konsolidasian
Summary of Consolidated Statements of Financial Position

                                                                                                                   dalam jutaan USD / in million USD


                                                                                       % Selisih
                  Uraian                      2024                   2023                                         Description
                                                                                     % Difference

 Aset
 Assets

 Aset Lancar
 Current Assets

 Kas dan Setara Kas                           326.93                 318.50                2.65                     Cash and Cash Equivalents

 Piutang Usaha, Neto                          202.69                 291.91              (30.56)                        Trade Receivables, Net

 Piutang Lain-Lain - Pihak Ketiga               0.13                   0.14               (7.14)              Other Receivables – Third Parties

 Persediaan                                    23.13                  40.37              (42.70)                                     Inventories

 Pajak Dibayar di Muka                        121.35                  90.58               33.97                                    Prepaid Taxes

 Uang Muka dan Biaya Dibayar di Muka           31.84                 100.47              (68.31)               Advances and Prepaid Expenses

 Total Aset Lancar                            706.07                 841.97             (16.14)                           Total Current Assets

 Aset Tidak Lancar
 Non-Current Assets

 Aset Tetap, Neto                             109.89                 103.93                5.73                  Property and Equipment, Net

 Aset Pertambangan, Neto                      308.95                 256.75               20.33                            Mine Properties, Net

 Aset Tidak Lancar Lain-Lain                  114.67                 109.39                4.83                      Other Non-Current Assets

 Total Aset Tidak Lancar                      533.51                 470.07               13.50                     Total Non-Current Assets

 Total Aset                                 1,239.58            1,312.04                  (5.52)                                    Total Assets



Aset                                                                        Assets
Aset Perseroan pada tahun 2024 mencapai USD1.239,57 juta,                   The Company’s assets in 2024 reached USD1,239.57 million,
menurun sebesar 5,52% atau USD72,47 juta dibandingkan                       decreasing by 5.52% or USD72.47 million compared to the
tahun sebelumnya yang tercatat sebesar USD1.312,04 juta.                    previous year of USD1,312.04 million. This change was due to
Perubahan ini diakibatkan oleh penurunan pada aset lancar                   the decrease in current assets of 16.14% or USD135.90 million.
sebesar 16,14% atau USD135,90 juta. Disisi lain, aset tidak lancar          On the other hand, non-current assets increased by 13.50% or
mengalami peningkatan sebesar 13,50% atau USD63,44 juta.                    USD63.44 million.


Kas dan Setara Kas                                                          Cash and Cash Equivalents
Perseroan mencatat saldo kas dan setara kas sebesar                         The Company recorded cash and cash equivalents of
USD326,93 juta pada tahun 2024, dibandingkan dengan                         USD326.93 million in 2024, compared to USD318.50 million in
USD318,50 juta pada tahun sebelumnya.                                       the previous year.


Piutang Usaha, Neto                                                         Trade Receivables, Net
Piutang usaha, neto Perseroan pada tahun 2024 mencapai                      The Company's net trade receivables in 2024 reached USD202.69
USD202,69 juta, lebih rendah dibandingkan USD291,91 juta di                 million, lower than USD291.91 million in 2023.
tahun 2023.


Persediaan                                                                  Inventories
Persediaan pada tahun 2024 tercatat sebesar USD23,13 juta,                  Inventories in 2024 were recorded at USD23.13 million,
mengalami penurunan sebesar 42,70% atau USD17,24 juta                       decreasing by 42.70% or USD17.24 million compared to the
dibandingkan tahun sebelumnya yang mencapai USD40,37 juta.                  previous year of USD40.37 million. This decrease was due to the
Penurunan ini disebabkan oleh jumlah persediaan batu bara.                  amount of coal inventories.


Uang Muka dan Biaya Dibayar di Muka                                         Advances and Prepaid Expenses
Pada akhir tahun 2024, saldo uang muka dan biaya dibayar di                 At the end of 2024, the balance of advances and prepaid expenses
muka tercatat sebesar USD31,84 juta, mengalami penurunan                    was recorded at USD31.84 million, experiencing a decrease of
sebesar 68,31% atau USD68,63 juta dibandingkan tahun                        68.31% or USD68.63 million, compared to the previous year of
sebelumnya yang mencapai USD100,47 juta.                                    USD100.47 million.



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                                                                                                               Management Discussion and Analysis




Aset Tetap, Neto                                                            Property and Equipment, Net
Pada tahun 2024, Perseroan membukukan aset tetap, neto                      In 2024, the Company recorded property and equipment, net
sebesar USD109,89 juta, mengalami peningkatan sebesar                       of USD109.89 million, an increase of 5.73% or USD5.96 million
5,73% atau USD5,96 juta dibandingkan tahun sebelumnya yang                  compared to the previous year of USD103.93 million.
mencapai USD 103,93 juta.


Aset Pertambangan, Neto                                                     Mine Properties, Net
Aset pertambangan, neto pada tahun 2024 tercatat sebesar                    Mine properties, net in 2024 were recorded at USD308.95 million,
USD308,95 juta, mengalami peningkatan sebesar 20,33% atau                   experiencing an increase of 20.33% or USD52.20 million
USD52,20 juta dibandingkan tahun sebelumnya yang mencapai                   compared to the previous year of USD 256.75 million.
USD 256,75 juta.


Aset Tidak Lancar Lain-Lain                                                 Other Non-Current Assets
Hingga 31 Desember 2024, Perseroan mencatatkan aset tidak                   As of December 31st, 2024, the Company recorded other
lancar lain-lain sebesar USD114,67 juta, mengalami peningkatan              non-current assets of USD114.67 million, an increase of
sebesar 4,83% atau USD5,28 juta dibandingkan tahun                          4.83% or USD5.28 million compared to the previous year of
sebelumnya yang mencapai USD109,39 juta.                                    USD109.39 million.

                                                                                                                     dalam jutaan USD / in million USD


                                                                                       % Selisih
                    Uraian                   2024                   2023                                            Description
                                                                                     % Difference

 Liabilitas
 Liabilities
 Liabilitas Jangka Pendek
 Current Liabilities
 Utang Bank Jangka Pendek                    242.06             251.79                    (3.86)                          Short-term Bank Loans
 Utang Usaha                                 247.99             337.68                  (26.56)                                    Trade Payables
 Utang Pajak                                   4.55                  8.33               (45.38)                                     Taxes Payable
 Beban Akrual                                 16.35                 16.44                 (0.55)                                Accrued Expenses
 Utang Bank Jangka Panjang yang Akan                                                                                    Current Portion of Long-
                                              10.00                     -               100.00
 Jatuh Tempo dalam Waktu Satu Tahun                                                                                            Term Bank Loans
 Liabilitas Jangka Pendek Lain-Lain            0.64                  1.14               (43.86)                          Other Current Liabilities
 Total Liabilitas Jangka Pendek              521.59             615.38                   15.24                          Total Current Liabilities
 Liabilitas Jangka Panjang
 Non-Current Liabilities
 Liabilitas Imbalan Kerja Neto                 4.16                  3.84                 (8.33)                 Net Employee Benefits Liability
 Utang Jangka Panjang -
                                                                                                                          Long-term Liabilities –
 Setelah Dikurangi Bagian yang Akan           30.00                     -               100.00
                                                                                                                          Net of Current Portion
 Jatuh Tempo dalam Waktu Satu Tahun
 Liabilitas Jangka Panjang Lain-lain          22.70                 29.71               (23.59)                    Other Non-Current Liabilities
 Total Liabilitas Jangka Panjang              56.86                 33.55                69.48                    Total Non-Current Liabilities
 Total Liabilitas                            578.45             648.93                  (10.86)                                   Total Liabilities



Liabilitas                                                                  Liabilities
Pada tahun 2024, liabilitas Perseroan tercatat sebesar                      In 2024, the Company’s liabilities were recorded at
USD578,45 juta, mengalami penurunan sebesar 10,86% atau                     USD578.45 million, a decrease of 10.86% or USD70.48
USD70,48 juta dibandingkan tahun sebelumnya yang mencapai                   million compared to the previous year of USD648.93 million.
USD648,93 juta. Perubahan ini terutama dipengaruhi oleh                     This change was mainly influenced by an a decrease in current
penurunan liabilitas jangka pendek sebesar 15,24% menjadi                   liabilities of 15.24% to USD521.58 million compared to
USD521,58 juta dibandingkan USD615,38 juta pada tahun 2023.                 USD615.38 million in 2023. On the other hand, non-current
Disisi lain, liabilitas jangka panjang mengalami kenaikan sebesar           liabilities increased by 69.48% to USD56.86 million compared to
69,48% menjadi USD56,86 juta dibandingkan USD33,55 juta di                  USD33.55 million in the previous year.
tahun sebelumnya.




                                                                                                     Laporan Tahunan 2024 Annual Report        53
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Utang Bank Jangka Pendek                                                   Short-term Bank Loans
Utang bank jangka pendek pada tahun 2024 tercatat sebesar                  Short-term bank loans in 2024 were recorded at
USD242,06 juta, mengalami penurunan sebesar 3,86% atau                     USD242.06 million, experiencing a significant decrease of 3.86%
USD9,73 juta dibandingkan tahun sebelumnya yang mencapai                   or USD9.73 million compared to the previous year of USD251.79
USD251,79 juta. Penurunan ini terutama disebabkan oleh                     million. This decrease was mainly due to payments of short-term
pembayaran fasilitas utang bank jangka pendek.                             bank loans facility.


Utang Usaha                                                                Trade Payables
Pada tahun 2024, utang usaha tercatat sebesar USD247,99 juta,              In 2024, trade payables were recorded at USD247.99 million,
mengalami penurunan sebesar 26,56% atau USD89,69 juta                      a decrease of 26.56% or USD89.69 million compared to the
dibandingkan tahun sebelumnya yang mencapai USD337,68 juta.                previous year of USD337.68 million. The trade payables include
Utang usaha tersebut mencakup kewajiban terkait jasa                       obligations related to mining services and other supporting
pertambangan serta jasa penunjang lainnya.                                 services.


Beban Akrual                                                               Accrued Expenses
Beban akrual pada tahun 2024 tercatat sebesar USD16,35 juta,               Accrued expenses in 2024 were recorded at USD16.35 million,
mengalami penurunan sebesar 0,55% atau USD0,10 juta                        experiencing a decrease of 0.55% or USD0.10 million compared
dibandingkan tahun sebelumnya yang mencapai USD16,44 juta.                 to the previous year of USD16.44 million.


Liabilitas Imbalan Kerja Neto                                              Net Employee Benefits Liability
Pada tahun 2024, liabilitas imbalan kerja neto tercatat sebesar            In 2024, net employee benefit liabilities were recorded
USD4,16 juta, mengalami kenaikan sebesar 8,33% atau                        at USD4,16 million, experiencing an increase of 8,33% or
USD0,32 juta dibandingkan tahun sebelumnya yang mencapai                   USD0.32 million compared to the previous year of
USD3,84 juta.                                                              USD3.84 million.

                                                                                                                  dalam jutaan USD / in million USD


                                                                                      % Selisih
                 Uraian                         2024              2023                                           Description
                                                                                    % Difference

 Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk
 Equity Attributable to Owners of the Parent Entity

 Modal Saham                                     65.07            65.07                      -                                    Capital Stock

 Tambahan Modal Disetor, Neto                  229.02            229.02                      -                 Additional Paid-in Capital, Net

 Selisih Transaksi dengan Pihak                                                                       Difference Arising from Transaction with
                                                  1.23             1.23                      -
 Non-Pengendali                                                                                                      Non-Controlling Interests

 Saldo Laba Dicadangkan                           7.52             6.52                 15.34                 Appropriated Retained Earnings

 Saldo Laba Belum Dicadangkan                  427.40            429.60                 (0.51)             Unappropriated Retained Earnings

 Rugi Komprehensif Lain                        (78.08)           (77.68)                 0.51                      Other Comprehensive Loss

 Total Ekuitas yang Dapat Diatribusikan                                                                           Total Equity Attributable to
                                               652.16            653.76                 (0.24)
 Kepada Pemilik Entitas Induk                                                                                     Owners of the Parent Entity

 Kepentingan Non-Pengendali                       8.97             9.35                 (4.06)                      Non-Controlling Interests

 Total Ekuitas                                 661.13            663.11                 (0.30)                                     Total Equity



Ekuitas                                                                    Equity
Pada tahun 2024, ekuitas Perseroan tercatat sebesar                        In 2024, the Company’s equity was recorded at
USD661,13 juta, mengalami penurunan sebesar 0,30% atau                     USD661.13 million, a decrease of 0.30% or USD1.98 million
USD1,98 juta dibandingkan tahun sebelumnya yang mencapai                   compared to the previous year of USD663.11 million. This change
USD663,11 juta. Perubahan ini terutama dipengaruhi oleh saldo              was mainly influenced by the unappropriated retained earnings.
laba belum dicadangkan.




 54        PT Golden Energy Mines Tbk
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                                                                                                              Management Discussion and Analysis




Ringkasan Laporan Arus Kas Konsolidasian
Summary of Consolidated Statements of Cash Flows

                                                                                                                    dalam jutaan USD / in million USD


                                                                                     % Selisih
                  Uraian                    2024                   2023                                            Description
                                                                                   % Difference

 Arus Kas dari Aktivitas Operasi             571.78                390.73                46.34             Cash Flows from Operating Activities

 Arus Kas dari Aktivitas Investasi         (110.46)                (98.31)               12.36             Cash Flows from Investing Activities

 Arus Kas dari Aktivitas Pendanaan         (456.63)            (304.76)                  49.83             Cash Flows from Financing Activities

                                                                                                                         Increase (Decrease) in
 Kenaikan (Penurunan) Kas dan Setara Kas       4.69                (12.34)             (138.01)
                                                                                                                     Cash and Cash Equivalents

 Pengaruh Perubahan Kurs Valuta Asing          3.74                  1.24               201.61        Effect of Foreign Exchange Rate Changes

                                                                                                                  Cash and Cash Equivalents at
 Kas dan Setara Kas Awal Tahun               318.50                329.60                (3.37)
                                                                                                                     the Beginning of the Year

                                                                                                                  Cash and Cash Equivalents at
 Kas dan Setara Kas Akhir Tahun              326.93                318.50                 2.65
                                                                                                                           the End of the Year



Arus Kas dari Aktivitas Operasi                                           Cash Flows from Operating Activities
Kas neto yang diperoleh dari aktivitas operasi pada tahun 2024            Net cash provided by operating activities in 2024 was recorded at
tercatat sebesar USD571,78 juta. Kas ini berasal dari penerimaan          USD571.78 million. This cash came from revenue from customers
pelanggan serta pembayaran kepada kontraktor, pemasok, dan                and payments to contractors, suppliers, and the government,
pemerintah, termasuk pembayaran pajak penghasilan badan.                  including payments of corporate income tax.


Arus Kas dari Aktivitas Investasi                                         Cash Flows from Investing Activities
Kas neto yang digunakan untuk aktivitas investasi pada tahun              Net cash used in investing activities in 2024 was recorded
2024 tercatat USD110,46 juta, dibandingkan dengan USD98,31                at USD110.46 million, compared to USD98.31 million in the
juta pada tahun sebelumnya.                                               previous year.


Arus Kas dari Aktivitas Pendanaan                                         Cash Flows from Financing Activities
Hingga 31 Desember 2024, kas neto yang digunakan untuk                    As of December 31, 2024, net cash used in financing activities
aktivitas pendanaan tercatat sebesar USD456,63 juta.                      was recorded at USD456.63 million. Most of the funds were
Sebagian besar dana tersebut dialokasikan untuk pembayaran                allocated for payments of dividends paid.
dividen.



Modal Kerja Neto                                                          Net Working Capital

Pada tahun 2024, Perseroan mencatat modal kerja neto sebesar              In 2024, the Company recorded net working capital of
USD184,47 juta, mengalami penurunan sebesar 18,59% atau                   USD184.47 million, experiencing a decrease of 18.59%
USD41,12 juta dibandingkan tahun sebelumnya yang mencapai                 or USD41.12 million compared to the previous year of
USD226,59 juta.                                                           USD226.59 million.



Likuiditas                                                                Liquidity

Pada tahun 2024, rasio likuiditas Perseroan tercatat sebesar              In 2024, the Company’s liquidity ratio was recorded at 1.35x.
1,35x. Hal ini mencerminkan kemampuan Perseroan dalam                     This reflects the Company’s ability to meet all current liabilities
memenuhi seluruh kewajiban lancar melalui optimalisasi                    through optimization of current assets.
aset lancar.




                                                                                                    Laporan Tahunan 2024 Annual Report        55
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Analisis dan Pembahasan Manajemen




Kemampuan Membayar Utang                                             Debt Service Ability

Pada tahun 2024, rasio liabilitas terhadap ekuitas dan rasio         In 2024, the ratio of liabilities to equity and the ratio of liabilities
liabilitas terhadap aset masing-masing tercatat sebesar 0,87x        to assets were recorded at 0.87x and 0.47x, respectively.
dan 0,47x. Hal ini ini mencerminkan struktur keuangan Perseroan      These reflect the Company’s sound financial structure and ability
yang sehat serta kemampuannya dalam mengelola kewajiban              to optimally manage non-current and current liabilities.
jangka panjang maupun jangka pendek secara optimal.


                    Uraian                          2024                     2023                             Description

 Rasio Liabilitas Terhadap Ekuitas                  0.87x                    0.98x                                 Liabilities to Equity Ratio

 Rasio Liabilitas Terhadap Aset                     0.47x                    0.49x                                 Liabilities to Assets Ratio




Kolektibilitas Piutang                                               Receivables Collectability

Kolektibilitas piutang mencerminkan efektivitas Perseroan            Receivables collectability reflects the Company’s effectiveness
dalam mengelola tagihan kepada pihak ketiga berdasarkan umur         in managing third-party receivables based on the receivables
piutang atau jangka waktu pencairannya. Pada tahun 2024,             age or disbursement period. In 2024, the Company’s receivables
tingkat kolektibilitas piutang Perseroan tercatat sebesar 33 hari.   collectability was recorded at 33 days.



Struktur Permodalan dan                                              Capital Structure and
Kebijakan Struktur Permodalan                                        Capital Structure Policy

Pengelolaan Risiko Modal                                             Capital Risk Management
Pengelolaan permodalan dilakukan untuk memastikan struktur           Capital management is carried out to ensure a strong capital
modal yang kuat guna mendukung pertumbuhan berkelanjutan             structure to support sustainable growth and long-term
dan stabilitas jangka panjang. Dengan strategi yang tepat,           stability. With the right strategy, the Company can maintain
Perseroan dapat menjaga kelangsungan usaha, mengoptimalkan           business continuity, optimize value for Shareholders and other
nilai bagi Pemegang Saham dan pemangku kepentingan lainnya,          stakeholders, and balance the level of loans and equity to
serta menyeimbangkan tingkat pinjaman dan ekuitas guna               efficiently reduce the cost of capital.
mengurangi biaya modal secara efisien.


Struktur Permodalan                                                  Capital Structure
Struktur permodalan Perseroan terdiri dari ekuitas yang              The Company’s capital structure consists of equity attributable
diatribusikan kepada pemilik entitas induk (terdiri dari modal       to the owners of the parent entity (consisting of capital stock,
saham, tambahan modal disetor, selisih transaksi dengan pihak        additional paid-in capital, difference arising from transaction
non-pengendali, saldo laba, dan kerugian komprehensif lainnya),      with non-controlling interests, retained earnings, and other
serta utang neto. Perseroan tidak memiliki surat utang (sukuk)       comprehensive loss), and net payables. The Company does not
dan obligasi dalam struktur permodalan.                              have sukuk or bonds in its capital structure.

                                                                                                                dalam jutaan USD / in million USD

                 Uraian                   2024               %         2023                %                      Description

 Liabilitas Jangka Pendek                 521.29            42.08      615.38             46.90                            Current Liabilities

 Liabilitas Jangka Panjang                 56.86             4.59        33.55             2.56                      Non-Current Liabilities

 Total Liabilitas                         578.45            46.66      648.93             49.46                               Total Liabilities

 Total Ekuitas                            661.13            53.34      663.11             50.54                                  Total Equity

 Total Liabilitas dan Ekuitas            1,239.58        100.00       1,312.04           100.00                  Total Liabilities and Equity




 56         PT Golden Energy Mines Tbk
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                                                                                                          Management Discussion and Analysis




Komitmen Belanja Modal                                                Capital Expenditure Commitments

Pada 2024, Perseroan mengalokasikan dana untuk belanja                In 2024, the Company allocated funds for capital expenditure to
modal guna mendukung aktivitas operasional, termasuk                  support operational activities, including equipment procurement,
pengadaan peralatan, kompensasi lahan, serta pemeliharaan dan         land compensation, and infrastructure maintenance and upgrade
peningkatan infrastruktur sebesar USD19,16 juta.                      of USD19.16 million.



Investasi, Ekspansi, Divestasi,                                       Investment, Expansion, Divestment,
Penggabungan/Peleburan Usaha,                                         Business Merger/Consolidation,
Akuisisi, Restrukturisasi Utang/Modal                                 Acquisition, Debt/Capital Restructuring

Selama tahun 2024, Perseroan tidak melaksanakan investasi,            Throughout 2024, the Company did not carry out any investment,
ekspansi, divestasi, penggabungan/peleburan usaha, akuisisi,          expansion,     divestment,     business  merger/consolidation,
restrukturisasi utang/modal.                                          acquisition, debt/capital restructuring.



Perbandingan Target dan                                               Comparison of Target and
Kinerja Tahun 2024                                                    Performance in 2024

Volume produksi Perseroan pada tahun 2024 mencapai                    The Company's production volume in 2024 reached 50.69 million
50,69 juta ton dan volume penjualan Perseroan tercatat                tons and sales volume was recorded at 51.86 million tons,
sebesar 51,86 juta ton, keduanya sesuai dengan target yang            both meeting the predetermined targets. The largest market
telah ditentukan. Pangsa pasar terbesar berasal dari Indonesia,       share comes from Indonesia, China, and India.
Tiongkok, dan India.



Prospek Usaha                                                         Business Prospects

Berdasarkan pengamatan International Energy Agency (IEA),             Based on observations by the International Energy Agency (IEA),
perdagangan batu bara global pada tahun 2024 diproyeksikan            global coal trade in 2024 was projected to decline, along with
mengalami penurunan, seiring dengan peningkatan kapasitas             the increase in nuclear power generation capacity in China, India,
pembangkit listrik tenaga nuklir di Tiongkok, India, dan Uni Eropa.   and the European Union. This step, supported by the global
Langkah ini, didukung oleh komitmen global terhadap mitigasi          commitment to climate change mitigation through the Paris
perubahan iklim melalui Perjanjian Paris, mendorong percepatan        Agreement, encourages the acceleration of energy transition
transisi energi dari batu bara menuju energi terbarukan yang          from coal to more sustainable renewable energy.
lebih berkelanjutan.


Namun, di tengah penurunan permintaan global secara                   Nevertheless, amid the overall decline in global demand,
keseluruhan, Indonesia tetap optimis dengan menargetkan               Indonesia remained optimistic by targeting coal production of
produksi batu bara sebesar 922 juta ton pada tahun 2024. Dari         922 million tons in 2024. Of this amount, the domestic market
jumlah tersebut, domestic market obligation (DMO) ditetapkan          obligation (DMO) was set at 220 million tons, to ensure the
sebesar 220 juta ton, untuk memastikan ketersediaan pasokan           availability of coal supply for the electricity sector and domestic
batu bara bagi sektor kelistrikan dan industri dalam negeri. Target   industry. This target is also in line with the government’s plan
ini juga sejalan dengan rencana pemerintah dalam mendukung            to support the 35 GW power plant project development program
program pembangunan proyek pembangkit listrik 35 GW serta             and increase national industry’s capacity.
peningkatan kapasitas industri nasional.


Sebagai salah satu eksportir utama batu bara termal dunia,            As one of the world’s major exporters of thermal coal, demand for
permintaan batu bara Indonesia dari pasar Asia diproyeksikan          Indonesian coal from the Asian market was projected to remain
tetap kuat. Untuk 2 bulan pertama tahun 2024, volume                  strong. For the first 2 months of 2024, Indonesia’s coal shipment
pengiriman batu bara Indonesia meningkat hampir 20%                   volume increased by almost 20% compared to that of the same
dibandingkan periode yang sama pada tahun 2023. Pertumbuhan           period in 2023. This growth was driven by the increasing need for
ini didorong oleh kebutuhan batu bara di Tiongkok yang terus          coal in China, especially to support the supply chain of building
meningkat, terutama untuk mendukung rantai pasokan bahan              materials and spare parts industries. In addition, demand from
bangunan dan industri suku cadang. Selain itu, permintaan dari        Vietnam also showed a positive trend, with a significant increase
Vietnam juga menunjukkan tren positif, dengan peningkatan             for the needs of cement and steel factories, which experienced a
signifikan untuk kebutuhan pabrik semen dan baja yang                 production surge.
mengalami lonjakan produksi.

                                                                                                Laporan Tahunan 2024 Annual Report    57
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Analisis dan Pembahasan Manajemen




Meskipun demikian, tantangan transisi energi global tetap menjadi     Nonetheless, the challenges of global energy transition remain a
perhatian utama. Upaya untuk mengelola keberlanjutan sektor           major concern. Efforts to manage the sustainability of coal sector
batu bara di Indonesia terus dilakukan, melalui penerapan teknologi   in Indonesia continue to be carried out, through the application of
rendah emisi serta diversifikasi pasar dan produk. Langkah-langkah    low-emission technology and market and product diversification.
ini diharapkan mampu menjaga kontribusi signifikan sektor batu        These steps are expected to maintain the significant contribution
bara terhadap perekonomian nasional, sekaligus mendukung              of coal sector to the national economy, while supporting the
pencapaian target energi yang ramah lingkungan.                       achievement of environmentally friendly energy targets.



Proyeksi 2025 Perseroan                                               Company’s 2025 Projection

Perseroan menargetkan volume produksi tahun 2025 berkisar             The Company targets a production volume of around
antara 50-55 juta ton, sedangkan volume penjualan antara              50-55 million tons in 2025, while sales volume is around
51-56 juta ton.                                                       51-56 million tons.



Kebijakan Dividen                                                     Dividend Policy

Perseroan membagikan dividen dengan memperhatikan beberapa            The Company distributes dividends by taking the following
hal berikut.                                                          matters into account.
1. Hasil operasi, arus kas, kecukupan modal, kondisi keuangan,        1. Operating results, cash flows, capital adequacy, financial
    dan rencana investasi.                                               condition, and investment plans.
2. Kondisi pasar dan kondisi Perseroan.                               2. Market conditions and the Company’s condition.
3. Kewajiban pemenuhan pembentukan dana cadangan dan                  3. Obligations to meet the establishment of reserve fund and
    pemenuhan kewajiban-kewajiban lainnya.                               fulfillment of other obligations.
4. Prospek Perseroan di masa yang akan datang.                        4. The Company’s future prospects.
5. kepatuhan pada hukum dan peraturan perundang-undangan              5. Compliance with applicable laws and regulations.
    yang berlaku.
6. Persetujuan Direksi, Dewan Komisaris, dan/atau RUPS, sesuai        6. Approval of the Board of Directors, Board of Commissioners,
    dengan Anggaran Dasar Perseroan.                                     and/or GMS, in accordance with the Company’s Articles of
                                                                         Association.
7. Kesesuaian aturan dalam Perjanjian Fasilitas Kredit dengan         7. Compliance with rules in the Credit Facility Agreement with
   PT Bank Mandiri (Persero) Tbk.                                        PT Bank Mandiri (Persero) Tbk.


Dividen yang dibayarkan kepada Pemegang Saham minimal                 Dividends paid to Shareholders are at least 30% of the Company’s
30% dari laba bersih setelah pajak konsolidasian Perseroan.           consolidated profit, net after tax. If after the current fiscal
Apabila setelah berakhirnya tahun buku berjalan Perseroan             year ends, the Company has suffered a loss, the dividends that
mengalami kerugian, dividen yang telah dibagikan harus                have been distributed must be returned by the Shareholders to
dikembalikan oleh Pemegang Saham kepada Perseroan.                    the Company.


Rincian pembagian dividen di Perseroan diungkapkan pada               Details of dividend distribution in the Company are disclosed in
tabel berikut.                                                        the following table.


                                                                        Rasio
 Tahun                                    Nilai        Dividen                            Tanggal
                                                                      Dividen
 Buku             Jenis               (ribuan USD)    per Saham                        Pengumuman             Tanggal Pembayaran
                                                                      Dividend
 Fiscal           Type                   Amount        Dividend                        Announcement              Payment Date
                                                                        Ratio
  Year                              (thousand USD)    per Share                            Date
                                                                         (%)

            Dividen Interim 1                                                             16 Mei 2018                31 Mei 2018
   2018                                 20,000           0.00340
            Interim Dividend 1                                                           May 16th, 2018             May 31st, 2018

            Dividen Interim 2                                                          20 Desember 2018            10 Januari 2019
   2018                                 15,000           0.00255        58.72
            Interim Dividend 2                                                        December 20th, 2018         January 10th, 2018

            Dividen Final                                                                  2 Juli 2019               19 Juli 2019
   2018                                 23,000           0.00390
            Final Dividend                                                                July 2nd, 2019            July 19th, 2019

            Dividen Final                                                               14 Agustus 2020           2 September 2020
   2019                                 53,000           0.00901        81.03
            Final Dividend                                                              August 14th, 2020        September 2nd, 2020




 58       PT Golden Energy Mines Tbk
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                                                                                                                                         Management Discussion and Analysis




                                                                                             Rasio
  Tahun                                        Nilai                 Dividen                                         Tanggal
                                                                                           Dividen
  Buku                Jenis                (ribuan USD)             per Saham                                     Pengumuman                   Tanggal Pembayaran
                                                                                           Dividend
  Fiscal              Type                    Amount                 Dividend                                     Announcement                    Payment Date
                                                                                             Ratio
   Year                                  (thousand USD)             per Share                                         Date
                                                                                              (%)

               Dividen Interim 1                                                                                   4 Desember 2020                  22 Desember 2020
   2020                                         20,000                  0.00340
               Interim Dividend 1                                                                                 December 4th, 2020               December 22nd, 2020

               Dividen Interim 2                                                                                  28 Desember 2020                   15 Januari 2021
   2020                                         30,000                  0.00510              130.40
               Interim Dividend 2                                                                                December 28th, 2020                January 15th, 2021

               Dividen Final                                                                                          10 Mei 2021                      28 Mei 2021
   2020                                         75,000                  0.01275
               Final Dividend                                                                                        May 10th, 2021                   May 28th, 2021

               Dividen Interim 1                                                                                     19 April 2021                      4 Mei 2021
   2021                                         75,000                  0.01275
               Interim Dividend 1                                                                                   April 19th, 2021                   May 4th, 2021

               Dividen Interim 2                                                                                    9 Agustus 2021                   31 Agustus 2021
   2021                                         60,000                  0.01020
               Interim Dividend 2                                                                                   August 9th, 2021                 August 31st, 2021

               Dividen Interim 3                                                                                  16 November 2021                   7 Desember 2021
   2021                                         60,000                  0.01020                94.83
               Interim Dividend 3                                                                                November 16th, 2021                December 7th, 2021

               Dividen Interim 4                                                                                  28 Desember 2021                   18 Januari 2022
   2021                                        110,000                  0.01870
               Interim Dividend 4                                                                                December 28th, 2021                January 18th, 2022

               Dividen Final                                                                                          25 Mei 2022                      15 Juni 2022
   2021                                         25,000                  0.00425
               Final Dividend                                                                                        May 25th, 2022                   June 15th, 2022

               Dividen Interim 1                                                                                      31 Mei 2022                      21 Juni 2022
   2022                                        120,000                   0.0204
               Interim Dividend 1                                                                                    May 31st, 2020                   June 21st, 2022

               Dividen Interim 2                                                                                  1 September 2022                 21 September 2022
   2022                                        200,000                   0.0340                61.73
               Interim Dividend 2                                                                                September 1st, 2022              September 21st, 2022

               Dividen Interim 3                                                                                   28 Oktober 2022                  17 November 2022
   2022                                        100,000                    0.017
               Interim Dividend 3                                                                                 October 28th, 2020               November 17th, 2022

               Dividen Interim 1                                                                                   21 Agustus 2023                 12 September 2023
   2023                                        325,000                  0.05525
               Interim Dividend 1                                                                                  August 21st, 2023              September 12th, 2023

               Dividen Interim 2                                                                                   4 Desember 2023                  22 Desember 2023
   2023                                         90,000                   0.0153                96.45
               Interim Dividend 2                                                                                 December 4th, 2023               December 22nd, 2023

               Dividen Final                                                                                          17 Mei 2024                       7 Juni 2024
   2023                                         85,000                  0.01445
               Final Dividend                                                                                        May 17th, 2024                   June 17th, 2024

               Dividen Interim 1                                                                                      29 Mei 2024                      25 Juni 2024
   2024                                        150,000                   0.0255
               Interim Dividend 1                                                                                    May 29th, 2024                   June 25th, 2024

               Dividen Interim 2                                                                                   23 Agustus 2024                 13 September 2024
   2024                                        150,000                   0.0255                82.31
               Interim Dividend 2                                                                                  August 23rd, 2024              September 13th, 2024

               Dividen Interim 3                                                                                  26 November 2024                  17 Desember 2024
   2024                                         90,000                   0.0153
               Interim Dividend 3                                                                                November 26th, 2024               December 17th, 2024

Keterangan / Remarks:
Dividen tahun buku 2020 bersumber dari laba setelah pajak kepada pemilik Entitas Induk periode 31 Desember 2020 dan laba ditahan periode 31 Desember 2020. /
Dividends for fiscal year 2020 are sourced from profit after tax attributable to owners of the Parent Entity for the period December 31st, 2020, and retained earnings for period
December 31st, 2020, period.




Realisasi Penggunaan Dana Hasil                                                             Actual Use of Proceeds from
Penawaran Umum                                                                              Public Offering

Perseroan tidak melakukan penawaran umum saham maupun                                       The Company did not conduct a public offering of shares or other
efek lainnya sepanjang tahun 2024, sehingga tidak memiliki                                  securities throughout 2024, and thus, there is no obligation
kewajiban untuk menyampaikan laporan penggunaan hasil                                       to submit a report on the use of public offering proceeds.
penawaran umum. Selain itu, dana yang diperoleh dari penawaran                              In addition, the proceeds obtained from the initial public offering
umum perdana pada tanggal 17 November 2011 telah digunakan                                  on November 17th, 2011 were fully utilized as of December 31st,
sepenuhnya per 31 Desember 2014 sesuai dengan peruntukannya                                 2014 in accordance with the allocation stated in the Prospectus
dalam Prospektus dan keputusan RUPS, serta telah dilaporkan                                 and the GMS resolutions, and were already reported to the
kepada Otoritas Jasa Keuangan pada tahun tersebut.                                          Financial Services Authority in the corresponding year.




                                                                                                                             Laporan Tahunan 2024 Annual Report           59
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Analisis dan Pembahasan Manajemen




Penerapan Standar Akuntansi                                                  Implementation of New Financial
Keuangan Baru                                                                Accounting Standards

Sejak 1 Januari 2024, Perseroan dan Entitas Anak menerapkan                  Since January 1st, 2024, the Company and Subsidiaries have
Pernyataan Standar Akuntansi Keuangan (PSAK) baru dan revisi                 implemented new and revised Financial Accounting Standards
yang mulai efektif pada tanggal tersebut. Perubahan kebijakan                (PSAK), which became effective on such date. Changes in
akuntansi telah dilakukan sesuai dengan ketentuan transisi                   accounting policies have been made in accordance with the
dalam masing-masing standar. Adapun PSAK yang diterapkan                     transitional provisions in each standard. The PSAKs applied are
sebagai berikut.                                                             as follows.
1. Amendemen PSAK No. 201, “Penyajian Laporan Keuangan”                      1. Amendment to PSAK No. 201, "Presentation of Financial
    terkait Klasifikasi Liabilitas sebagai Jangka Pendek atau                     Statements" about Liabilities Classification as Current or
    Jangka Panjang.                                                               Non-Current.
2. Amendemen PSAK No. 201, ”Penyajian Laporan Keuangan”                      2. Amendment to PSAK No. 201, "Presentation of Financial
    terkait Liabilitas Jangka Panjang dengan Kovenan.                             Statements" regarding Non-Current Liabilities with Covenants.
3. Amendemen PSAK No. 116, “Sewa” terkait Liabilitas Sewa                    3. Amendment to PSAK No. 116, "Leases" regarding Lease
    pada Transaksi Jual dan Sewa Balik.                                           Liabilities in Sale-and-Lease Back Transactions.
4. Amendemen PSAK No. 207, “Laporan Arus Kas” dan                            4. Amendment to PSAK No. 207, " Statement of Cash Flow "
    amandemen PSAK No. 107 “Instrumen Keuangan” tentang                           and amendment to PSAK No. 107 “Financial Instruments”
    Pengaturan Pembiayaan Pemasok.                                                regarding Supplier Financing Arrangements.


Perubahan Peraturan Perundang-Undangan
yang Berdampak Signifikan Terhadap Perseroan
Amendments to Laws and Regulations that Significantly Impact the Company

                    Peraturan                                                Perihal                                           Dampak
                   Regulations                                               Subject                                           Impact

Keputusan Menteri Energi dan Sumber Daya Mineral      Program pemerintah terkait penerapan bahan bakar           Peningkatan     biaya     operasional
No. 341.K/EK.01/MEM.E/2024 tanggal 24 Desember        minyak (BBM) jenis solar dengan campuran bahan             Perseroan.
2024 tentang Pemanfaatan Bahan Bakar Nabati Jenis     bakar nabati biodiesel berbasis minyak sawit sebesar
Biodiesel Sebagai Campuran Bahan Bakar Minyak         40% atau B40 mulai 1 Januari 2025 untuk industri
Jenis Minyak Solar Dalam Rangka Pembiayaan oleh       pertambangan di mana harga B40 akan merujuk pada
Badan Pengelola Dana Perkebunan Kelapa Sawit          Fatty Acid Methyl Ester (FAME) dan pengurangan
Sebesar 40%.                                          subsidi dari Pemerintah.
Decree of the Minister of Energy and Mineral          Government program related to the implementation           Increase in the Company's operational
Resources No. 341.K/EK.01/MEM.E/2024 dated            of diesel fuel (BBM) with a mixture of palm oil-based      costs.
December 24th, 2024 on the Utilization of Biodiesel   biodiesel of biofuel of 40% or B40 starting January 1st,
Type of Biofuel as a Mixture of Diesel Fuel in the    2025 for the mining industry where the price of B40
Framework of Financing by the Palm Oil Plantation     will refer to Fatty Acid Methyl Ester (FAME) and subsidy
Fund Management Agency by 40%.                        reduction from the Government.
Peraturan Pemerintah No. 8 tahun 2025 tanggal         Berdasarkan Peraturan Pemerintah, 100% dari                Terdapat gangguan pada arus kas
17 Februari 2025 tentang Perubahan atas Peraturan     devisa hasil ekspor, dengan nilai ekspor paling sedikit    Perseroan namun tidak berdampak
Pemerintah No. 36 tahun 2023 terkait Devisa Hasil     USD250.000 atau ekuivalennya, wajib ditempatkan            material.      Perseroan       telah
Ekspor dari Kegiatan Pengusahaan, Pengelolaan,        ke dalam rekening khusus dengan jangka waktu               menandatangani beberapa fasilitas
dan/atau Pengolahan Sumber Daya Alam.                 paling singkat 12 bulan, namun terdapat beberapa           pinjaman dari bank untuk mendukung
                                                      pengecualian yang dapat dimanfaatkan untuk                 arus    kas   kegiatan   operasional
                                                      mendukung kegiatan operasional Perseroan. Peraturan        Perseroan.
                                                      ini akan berlaku efektif sejak 1 Maret 2025.
Government Regulation No. 8 of 2025, dated            Based on Government Regulation, 100% of foreign            There was a disruption in the
February 17th, 2025, on Amendments to Government      exchange from exports, with an export value of at least    Company's cash flows, but it had no
Regulation No. 36 of 2023 on Foreign Exchange         USD250,000 or its equivalent, must be placed into a        material impact. The Company has
from Exports from Business Activities, Management,    special account with a minimum term of twelve months.      signed several loan facilities from
and/or Processing of Natural Resources.               However, there are some exceptions that can be utilized    banks to support the cash flows of the
                                                      to support the Company's operational activi-ties.          Company's operational activities.
                                                      This regulation will be effective from March 1st, 2025.




Peristiwa Keuangan Luar Biasa                                                Extraordinary Financial Event

Tidak terdapat transaksi atau peristiwa keuangan luar biasa yang             There were no extraordinary transactions or financial events that
terjadi di tahun 2024.                                                       occurred in 2024.




 60       PT Golden Energy Mines Tbk
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                                                                                                      Management Discussion and Analysis




Informasi Material Setelah Tanggal                                 Material Information subsequent to
Laporan Keuangan                                                   the Accountant’s Reporting Date

Informasi material setelah tanggal Laporan Keuangan telah          Material information subsequent to the Financial Statements’
disampaikan dalam bagian peristiwa setelah tanggal neraca          date has been submitted in the events section after the balance
dalam Laporan Keuangan Perseroan untuk tahun buku yang             sheet date in the Company’s Financial Statements for the fiscal
berakhir pada 31 Desember 2024. Berdasarkan informasi              year ended December 31st, 2024. Based on this information,
tersebut, tidak terdapat transaksi material setelah tanggal        there are no material transactions subsequent to the Financial
Laporan Keuangan yang berdampak terhadap Laporan Keuangan          Statements’ date that have an impact on the Financial
di masa mendatang.                                                 Statements in the future.



Informasi Kelangsungan Usaha                                       Information on Business Continuity

Pada tahun 2024, Perseroan tidak memiliki faktor yang berpotensi   In 2024, the Company had no factors having the potential
berpengaruh signifikan terhadap kelangsungan usaha. Meskipun       to significantly affect its business continuity. Despite market
terdapat dinamika pasar, termasuk fluktuasi permintaan ekspor      dynamics, including fluctuations in coal export demand,
batu bara, Perseroan tetap mampu mengelola operasional             the Company was still able to manage operations optimally to
secara optimal untuk memastikan keberlanjutan usaha.               ensure business continuity.


Penilaian Manajemen Atas Hal-Hal                                   Management Assessment on Matters
yang Berpengaruh Signifikan terhadap                               with Significant Impact on the Company’s
Kelangsungan Usaha Perseroan                                       Business Continuity
Perseroan telah melakukan penilaian atas kemampuan                 The Company has assessed its ability to continue its business
kelangsungan usaha dan berkeyakinan bahwa Perseroan                and believes that the Company has sufficient resources to
memiliki sumber daya yang memadai untuk mempertahankan             maintain its operations in the future. Despite market dynamics,
operasionalnya di masa mendatang. Meskipun terdapat                including fluctuations in coal export demand, the Company
dinamika pasar, termasuk fluktuasi permintaan ekspor batu bara,    remains optimistic in maintaining its business continuity through
Perseroan tetap optimis dalam menjaga kelangsungan usaha           market diversification strategies and operational efficiency.
melalui strategi diversifikasi pasar dan efisiensi operasional.    In addition, there are no material uncertainties that could raise
Selain itu, tidak terdapat ketidakpastian material yang dapat      significant doubts about its business continuity. Therefore, the
menimbulkan keraguan signifikan terhadap kelangsungan usaha.       Consolidated Financial Statements have been prepared on the
Oleh karena itu, Laporan Keuangan Konsolidasian telah disusun      basis of a sustainable business.
atas dasar usaha yang berkelanjutan.


Asumsi yang Digunakan Manajemen dalam                              Assumptions Used by the Management in
Melakukan Penilaian                                                Conducting Assessment
Dalam melakukan penilaian, manajemen menggunakan sejumlah          In performing the assessment, management uses a number of
asumsi, seperti:                                                   assumptions, such as:
1. Kinerja Keuangan;                                               1. Financial Performance;
2. Solvabilitas;                                                   2. Solvency;
3. Masalah Internal; dan                                           3. Internal Matters; and
4. Perkara Hukum Perseroan.                                        4. The Company’s Legal Cases.




                                                                                            Laporan Tahunan 2024 Annual Report    61
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Aspek Pendukung Operasional




ASPEK PENDUKUNG OPERASIONAL
Operational Supporting Aspects

Sumber Daya Manusia
Human Resources

Perseroan memandang sumber daya manusia (SDM) sebagai               The Company considers human resources (HR) as an important
pilar penting untuk memastikan operasi yang aman dan efisien.       pillar to ensure safe and efficient operations. Skilled HR
SDM yang terampil mendukung pengelolaan peralatan berat,            supports heavy equipment management, occupational safety,
keselamatan kerja, dan keberlanjutan lingkungan. Oleh karena        and environmental sustainability. As such, the Company is
itu, Perseroan berkomitmen untuk melatih dan mengembangkan          committed to training and developing employees in order to have
karyawan agar memiliki kompetensi yang sesuai dengan                competencies in line with industry challenges, in the present and
tantangan industri, baik saat ini maupun di masa depan.             in the future.



Fokus Pengelolaan SDM                                               HR Management Focus

Perseroan meyakini bahwa pengelolaan SDM yang tepat dan             The Company believes that proper and comprehensive HR
komprehensif dapat mendukung kelangsungan bisnis. Oleh              management can support its business continuity. Therefore, HR
karena itu, pengelolaan SDM pada tahun 2024 difokuskan pada         management in 2024 focused on the following efforts.
upaya-upaya berikut.
1. Pemenuhan sertifikasi, peningkatan kompetensi teknis, dan        1. Fulfillment of certification, increasing technical competence
    kepemimpinan.                                                      and leadership.
2. Pengembangan platform teknologi untuk pengembangan               2. Development of a technology platform for HR development,
    SDM, yakni mylearning. Melalui platform tersebut, karyawan         namely mylearning. Through this platform, employees can
    dapat belajar secara online kapan pun dan di mana pun.             study online anytime and anywhere. Employees can choose
    Karyawan dapat memilih program pelatihan yang sesuai               a training program that suits their job needs and interests,
    dengan kebutuhan pekerjaan dan minat, tanpa harus                  without having to adjust to the availability of a classroom
    menyesuaikan dengan ketersediaan program dalam kelas               training program.
    (classroom training).
3. Mempersiapkan karyawan yang agile (agile worker) melalui         3. Prepare agile workers through an integrated and structured
    program pendidikan dan pelatihan yang terintegrasi dan             education and training program in accordance with the
    terstruktur sesuai hasil penilaian asesmen kompetensi              employees’ competency assessment results.
    karyawan.
4. Penggunaan tenaga kerja lokal, yakni pemberdayaan                4. The use of local manpower, which is empowering communities
    masyarakat sekitar area tambang Perseroan untuk menjadi            around the Company’s mining areas to become employees of
    karyawan Perseroan dan/atau kontraktor Perseroan                   the Company and/or contractors of the Company in 2024.
    di tahun 2024.
5. Perbaikan dalam proses seleksi kontraktor dan pihak ketiga       5. Improvement in the selection process for contractors and
    penyedia jasa pendukung.                                           third-party providers of supporting services.
6. Mencetak karyawan yang siap menjadi pemimpin dan                 6. Prepare employees who are ready to become leaders and
    pengembang usaha (business builder).                               business builders.



Rekrutmen                                                           Recruitment

Departemen HR bertanggung jawab atas pengelolaan SDM di             HR Department is responsible for managing HR in the Company,
Perseroan, dengan fokus memastikan ketersediaan karyawan            with a focus on ensuring the availability of competent and
yang cakap dan berdaya saing melalui proses rekrutmen yang          competitive employees through a continuous recruitment
berkelanjutan. Proses rekrutmen, meliputi tes inteligensi,          process. The recruitment process includes intelligence test,
behavioral interview, project/portfolio presentation, leadership    behavioral interview, project/portfolio presentation, leadership
assessment, dan reference checking guna menilai rekam jejak         assessment, and reference checking to assess the track
calon karyawan di tempat kerja sebelumnya. Setiap tahap             record of prospective employees in previous workplaces. Each
rekrutmen dilakukan dengan menjaga prinsip kesetaraan gender,       recruitment stage is carried out by maintaining the principles of
perlakuan yang adil bagi semua kandidat, serta bebas dari praktik   gender equality, fair treatment for all candidates, and free from
korupsi, kolusi, dan nepotisme.                                     corruption, collusion, and nepotism.


 62       PT Golden Energy Mines Tbk
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                                                                                                           Operational Supporting Aspects




Pada tahun 2024, Perseroan merekrut 7 tenaga kerja lokal           In 2024, the Company recruited 7 local workers, consisting
sebanyak 6 di BIB dan 1 di BSL. Selain itu, kontraktor Perseroan   of 6 in BIB and 1 in BSL. In addition, the Company’s
mempekerjakan 11.106 tenaga kerja lokal, sebanyak 10.907           contractors employed 11,106 local workers, consisting of
orang di BIB dan 136 di BSL.                                       10,907 people in BIB and 136 in BSL.


Setiap karyawan baru diberi kesempatan untuk mengikuti             Every new employee is given the opportunity to participate in
program orientasi yang dilaksanakan dalam beberapa tahapan         an orientation program, which is carried out in several stages
sebagai berikut.                                                   as follows.
1. HR Induction                                                    1. HR Induction
    Pengenalan secara umum terkait Perseroan, hak dan                   General introduction regarding the Company, employees’
    kewajiban karyawan, serta regulasi-regulasi yang berlaku di         rights and obligations, and regulations applicable in the
    Perseroan.                                                          Company.
2. HSE Induction                                                   2. HSE Induction
    Pengenalan terkait Kebijakan Keselamatan Pertambangan               An introduction to Mining and Environmental Safety Policy
    dan Lingkungan Hidup (KPLH) dan Golden Rules yang ada               (KPLH) and Golden Rules applicable in the Company, both of
    di Perseroan sekaligus menjadi persyaratan wajib karyawan           which are mandatory requirements for employees to obtain
    untuk mendapatkan ID Card/Mine Permit.                              an ID Card/Mine Permit.
3. User Induction                                                  3. User Induction
    Pengenalan/pendekatan karyawan baru dengan user/calon               Introduction/approach     of     new     employees     with
    atasan, termasuk penjelasan job desk dan tanggung jawab             users/prospective supervisors, including explanation of the
    pekerja saat menjabat posisi tersebut.                              job description and worker responsibilities while holding
                                                                        the position.



Penilaian Kinerja Karyawan                                         Employee Performance Assessment

Penilaian kinerja karyawan dilakukan 2 kali setahun, yaitu         Employee performance assessments are conducted twice a
Penilaian Tengah Tahun (PTT) dan Penilaian Akhir Tahun (PAT),      year, which are Mid-Year Assessment (PTT) and End-of-Year
berdasarkan Key Performance Indicator (KPI) dan metode 360°        Assessment (PAT), based on Key Performance Indicator (KPI)
feedback. Pada tahun 2024, Perseroan menggunakan kriteria          and 360° feedback method. In 2024, the Company's new criteria
baru berupa grid, collaboration, dan winning spirit dalam          in the form of grid, collaboration, and winning spirit to provide
penilaian 360° feedback. Semua karyawan, termasuk yang baru        360o feedback. All employees, including new employees, are
bergabung, diharuskan menyusun KPI yang sesuai dengan job          required to prepare KPIs in accordance with their job descriptions
desk dan instruksi atasan. KPI ini menjadi acuan utama dalam       and superior instructions. This KPI is the main reference in
penilaian kinerja. Hasil penilaian KPI bagi karyawan baru akan     performance assessments. KPI assessment results for new
memengaruhi status Perjanjian Kerja Waktu Tertentu (PKWT).         employees will affect the status of Specific Time Employment
Selain itu, nilai PAT digunakan sebagai dasar untuk menentukan     Agreement (PKWT). In addition, PAT value is used as a basis for
bonus tahunan, kenaikan gaji, promosi, serta pendidikan dan        determining annual bonus, salary increase, promotion, as well as
pelatihan karyawan.                                                employee education and training.



Komposisi Karyawan                                                 Employees Composition

Kegiatan bisnis Perseroan dan Entitas Anak pada tahun 2024         The Company and Subsidiaries’ business activities in 2024 were
didukung oleh 663 karyawan, meningkat 6,25% dibandingkan           supported by 663 employees, an increase of 6.25% compared to
tahun 2023 yang tercatat 624 karyawan. Perbandingan komposisi      624 employees recorded in 2023. A comparison of the Company’s
SDM Perseroan dalam 2 tahun terakhir disajikan sebagai berikut.    HR composition in the last 2 years is presented as follows.


                                                          Total Karyawan
                                                          Total Employee
                  Uraian                                                                               Description
                                                     2024               2023

 Pria                                                 527                  504                                                     Male

 Wanita                                               136                  120                                                   Female

 Jumlah                                               663                  624                                                    Total




                                                                                            Laporan Tahunan 2024 Annual Report     63
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Aspek Pendukung Operasional




                                             2024                                          2023
          Uraian                                                                                                     Description
                              Pria          Wanita        Jumlah             Pria         Wanita       Jumlah
                              Male          Female         Total             Male         Female        Total

 Berdasarkan Status Kepegawaian
 By Employment Status

 Tetap                         409               119          528            382            109         491                     Permanent

 Kontrak                       118                17          135            122             11         133                       Contract

 Jumlah                        527               136          663            504            120         624                           Total

 Berdasarkan Jenjang Karier
 By Career Level

 Dewan Komisaris                                                                                                 Board of Commissioners
                                    6              -            6              6              -           6
 (Executive Level)                                                                                                      (Executive Level)

                                                                                                                         Board of Directors
 Direksi (termasuk
                                                                                                                           (including Chief
 Chief Executive Officer              6            -            6              6              -           6
                                                                                                                          Executive Officer
 (Executive Level))
                                                                                                                         (Executive Level))

 Business Unit Head                                                                                                  Business Unit Head
                                      4            2            6              4              2           6
 (Executive Level)                                                                                                     (Executive Level)

 Division Head                                                                                                             Division Head
                                27                 6           33             26              5          31
 (Professional Level)                                                                                                (Professional Level)

 Department Head                                                                                                       Department Head
                                71                16           87             72             14          86
 (Professional Level)                                                                                                (Professional Level)

 Section Head                                                                                                                 Section Head
                               144                48          192            125             46         171
 (Middle Level)                                                                                                              (Middle Level)

 Team Leader                                                                                                                  Team Leader
                               197                59          256            192             51         243
 (Middle Level)                                                                                                              (Middle Level)

 Staff (Entry Level)            28                 3           31             27              2          29              Staff (Entry Level)

 Non-Staff (Entry Level)        42                 4           46             46              -          46       Non-Staff (Entry Level)

 Jumlah                        525               138          663            504            120         624                           Total

 Berdasarkan Jenjang Pendidikan
 By Education Level

 Doktor (S3)                          5            -            5              5              -           5                 Doctorate (S3)

 Master (S2)                    44                11           55             39              7          46                    Master (S2)

 Sarjana (S1)                  360               108          468            336             96         432                  Bachelor (S1)

 Akademi (Diploma)              22                11           33             24             13          37              College (Diploma)

                                                                                                                     Senior High School/
 SMA/SMP                        96                 6          102            100              4         104
                                                                                                                      Junior High School

 Jumlah                        527               136          663            504            120         624                           Total


Jumlah Level Karyawan yang Dimiliki oleh Pria dan Wanita Berdasarkan Rentang Usia Tahun 2024
Number of Employee Levels Held by Male and Female by Age Range in 2024

                                                                     Level Jabatan
                                                                     Position Level
    Rentang Usia                                                                                                                Jumlah
                               Entry-Level               Mid-Level                  Senior-Level       Executive-Level
     Age Range                                                                                                                   Total
                              Pria        Wanita       Pria         Wanita      Pria       Wanita      Pria     Wanita
                              Male        Female       Male         Female      Male       Female      Male     Female

 18-25 Tahun / Years Old       20            4          39            12             -             -      -          -               75

 25-35 Tahun / Years Old       38            -         120            43             3            3       -          -             207

 35-45 Tahun / Years Old       11            1         129            42            45        12          2          -             242

 45-55 Tahun / Years Old          -          2          46            10            39            6       3          1             107

 >55 Tahun / Years Old          1            -           7             -            11            1      11          1               32

 Jumlah
                               70            7         341           107            98        22         16          2             663
 Total




 64        PT Golden Energy Mines Tbk
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                                                                                                                         Operational Supporting Aspects




Tingkat Perputaran SDM
HR Turnover Rate

                  Uraian                               2024                       2023                                Description

 SDM Keluar                                                31                        51                                                  Outgoing HR

 Jumlah SDM                                              663                        624                                                        Total HR

 Tingkat Perputaran Karyawan (%)                         4.67                      8.17                                 Employee Turnover Rate (%)



Remunerasi                                                                  Remuneration

Remunerasi adalah hak karyawan yang wajib dipenuhi oleh                     Remuneration is employees’ right that must be fulfilled by
Perseroan sebagai bentuk penghargaan atas kontribusi mereka.                the Company as a form of appreciation for their contribution.
Pemberian remunerasi ini mempertimbangkan:                                  The provision of this remuneration considers the following matters:
1. Peraturan pemerintah tentang upah minimum regional (UMR);                1. Government regulations on regional minimum wages (UMR);
2. Tingkat upah dari bidang usaha sejenis; dan                              2. The level of wages from similar business fields; and
3. Kinerja Perseroan.                                                       3. Company Performance.


Kebijakan remunerasi diterapkan secara adil bagi semua karyawan,            The remuneration policy is applied fairly to all employees,
tanpa memandang jenis kelamin. Informasi terkait remunerasi                 regardless of gender. Information related to employee
karyawan, khususnya terkait pemberian upah minimum dan                      remuneration, especially regarding the provision of minimum
tunjangan lainnya, diungkapkan pada Laporan Keberlanjutan.                  wages and other benefits, is disclosed in the Sustainability Report.



Pengembangan Kompetensi                                                     Competency Development

Pengembangan kompetensi diberikan kepada seluruh karyawan                   Competency development is provided to all Company employees
Perseroan dalam berbagai bentuk, sebagai berikut.                           in various forms, as follows.


                              Pelatihan yang diselenggarakan oleh Perseroan, di mana materi pelatihan, tempat, serta instrukturnya, berasal dari
                              luar atau dari dalam Perseroan. Pelatihan ini ditujukan bagi karyawan dan seluruh mitra kerja, dengan mayoritas materi
    Pelatihan Internal        pelatihan terkait dengan Keselamatan Pertambangan dan Lingkungan Hidup (KPLH).
    Internal Trainings        Trainings organized by the Company, where the training materials, venue, and instructors, can be from external or
                              internal party of the Company. This training is intended for employees and all business partners, with the majority of
                              training materials related to Mining and Environmental Safety Policy (KPLH).

                              Pelatihan berupa seminar, lokakarya, workshop, atau kursus yang diselenggarakan oleh vendor atau lembaga
    Pelatihan Inhouse/        pendidikan/sertifikasi di luar Perseroan. Pelatihan ini lebih banyak diarahkan untuk sertifikasi karyawan yang berkaitan
        Eksternal             dengan regulasi dan gap kompetensi yang ada di pemegang jabatan.
    Inhouse/External          Trainings in the forms of seminars, workshops, or courses organized by vendors or educational/certification institutions
        Trainings             outside the Company. These trainings are more directed at employee certification related to regulations and
                              competency gaps of the incumbents.

                              Platform digital yang memungkinkan karyawan untuk dapat belajar secara daring kapan pun dan di mana pun. Melalui
                              aplikasi tersebut, karyawan dapat memilih program pelatihan yang sesuai dengan kebutuhan pekerjaan dan minatnya,
                              tanpa harus menyesuaikan dengan ketersediaan program dalam kelas (classroom training).
        Mylearning
                              A digital platform that allows employees to learn online anytime and anywhere. Through this application, employees
                              can choose a training program that suits their job needs and interests, without having to adjust to the availability of a
                              classroom training program.




Pengembangan kompetensi yang dilakukan secara internal                      Competency development carried out internally and externally
maupun eksternal pada tahun 2024 diikuti oleh 220 karyawan,                 in 2024 was attended by 220 employees, with a fund allocation
dengan alokasi dana sebesar Rp6.754.824.347,-. Jumlah                       of Rp6,754,824,347. The number of employee participation
partisipasi karyawan meningkat dibandingkan tahun sebelumnya,               increased compared to that of the previous year due to the
yang disebabkan oleh adanya kesempatan yang lebih luas bagi                 wider opportunities for employees to participate in external
karyawan untuk mengikuti pelatihan eksternal serta peningkatan              training and the increase in the number of participants in the
jumlah peserta dalam Development Program yang wajib                         Development Program who were required to participate in the
mengikuti pelatihan tersebut.                                               training.




                                                                                                          Laporan Tahunan 2024 Annual Report      65
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Aspek Pendukung Operasional




Pelaksanaan pengembangan kompetensi bagi                   karyawan     The competency development carried out for employees
sepanjang tahun 2024 diuraikan dalam tabel berikut.                     throughout 2024 is described in the following table.


                                       Peserta                                    Jenis
                                     Participants                                 Types
                                                                                                                               Biaya
           Jabatan                                                Internal                   Eksternal
                                                                                                                                Fee
           Position                                               Internal                   External
                                  Jumlah                                                                                        (Rp)
                                                    %
                                   Total
                                                              Jumlah                    Jumlah
                                                                              %                           %
                                                               Total                     Total

 BU Head                                1           0.35          2           0.88             -              -                217,000,000

 Division Head                          14          4.86         12           5.31           31           4.45                 377,422,682

 Department Head                        30         10.42         22           9.73           60           8.61                 168,140,000

 Section Head                           97         33.68         80          35.41          242          34.72                 988,308,265

 Team Leader                         146           50.69        110          48.67          364          52.22               5,003,953,400

 Jumlah / Total                      288          100.00        226      100.00             697         100.00               6,754,824,347



Biaya pengembangan kompetensi karyawan Perseroan dalam                  The Company’s employee competency development costs in the
2 tahun terakhir diungkapkan sebagai berikut.                           last 2 years are disclosed as follows.

                                                                                                                               (dalam Rp / in Rp)


                                        9,891,318,980                                   6,754,824,347




                                             2023                                            2024



Program pengembangan kompetensi yang dilakukan sepanjang                The competency development programs carried out throughout
tahun 2024 disajikan pada tabel berikut.                                2024 are presented in the following table.


                         Soft Skill Training                                                       Hard Skill Training

             Design Thinking for Team Based Problem Solving                   Geographic Information System (GIS) for Basic Spatial Analysis

                         Situational Leadership                                   ISO 9001:2015 Transition and Implementation Changes

                        Stress Management Skill                                                Plan, Do, Check, Act (PDCA)

                              Leading Team                                             Business Process Management for Beginners




Kesehatan dan Keselamatan Kerja                                         Occupational Health and Safety

Perseroan berkomitmen untuk menjamin kesehatan dan                      The Company is committed to ensuring employees’ health and
keselamatan kerja karyawan dengan menyediakan pusat                     safety by providing first aid centers throughout the Company's
pertolongan pertama di seluruh konsesi pertambangan Perseroan.          mining concessions. BIB's first aid centers have the most




 66        PT Golden Energy Mines Tbk
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                                                                                                                       Operational Supporting Aspects




Pusat pertolongan BIB memiliki fasilitas terlengkap di antara pusat        complete facilities among the first aid centers in the Company's
pertolongan di konsesi pertambangan Perseroan lainnya yang telah           other mining concessions, which are equipped with paramedics
dilengkapi dengan paramedis untuk memberikan pelayanan darurat             to provide basic emergency services and some also have
dasar dan beberapa juga memiliki tenaga medis profesional, seperti         professional medical personnel, such as doctors. The health
dokter. Layanan kesehatan yang tersedia meliputi:                          services available include:
1. Pemeriksaan kesehatan prakerja yang memerlukan                          1. Pre-employment medical check-up involving rigorous
     pemeriksaan fisik yang ketat, seperti gangguan pendengaran,               physical examination such as hearing impairment,
     pernapasan, visual, tes darah rutin, tes urine, pemindaian                respiratory, visual, routine blood tests, urine tests, x-ray
     x-ray, elektrokardiogram (EKG), dan tes treadmill;                        imaging, electrocardiogram (ECG), and treadmill tests;
2. Pemeriksaan kesehatan tahunan yang memerlukan parameter                 2. Annual medical check-up involves the same medical
     medis yang sama dengan pemeriksaan kesehatan sebelum                      parameters as pre-employment medical check-up, to detect
     bekerja, untuk mendeteksi masalah kesehatan sejak dini;                   any health issue at the earliest;
3. Pemeriksaan kesehatan dua tahunan untuk posisi berisiko                 3. Biannual medical check-ups for high-risk positions such
     tinggi, seperti personil yang berisiko terpapar bahaya listrik,           as personnel at risk of exposure to electrical, chemical, or
     kimia, atau radioaktif;                                                   radioactive hazards;
4. Konsultasi medis setelah pemeriksaan kesehatan;                         4. One-on-one medical consultations are conducted after each
                                                                               medical check-up;
5. Penilaian risiko kesehatan di kantor dan di site;                       5. Health risk assessments are conducted in the office and on-site;
6. Survei terkait kesehatan untuk mengukur kecukupan                       6. Health-related surveys are conducted to measure the
   pencahayaan, kebisingan, debu, kualitas udara, suhu,                        adequacy of lighting, noise, dust, air quality, temperature,
   kelembaban, tekanan panas, dan getaran; serta                               humidity, heat stress, and vibration; and
7. Diskusi kesehatan dengan dokter medis dari klinik setempat              7. Health talk programs are conducted by medical doctors from
   yang bekerja sama.                                                          local clinics who cooperate.

Selain itu, Perseroan memastikan seluruh karyawan mendapatkan              Furthermore, the Company ensures that all employees receive
perlindungan melalui program Badan Penyelenggara Jaminan                   protection through the Health and Employment Social Security
Sosial (BPJS) Kesehatan dan Ketenagakerjaan guna mengurangi                Agency (BPJS) program to reduce the risk of occupational-related
risiko insiden dan penyakit terkait pekerjaan. Perseroan juga              incidents and diseases. The Company also registers employees
mendaftarkan karyawan pada program kesehatan yang disediakan               for health programs provided by national private insurance.
oleh asuransi swasta nasional. Informasi mengenai tingkat                  Information on occupational accident rate in 2024 is presented
kecelakaan kerja di tahun 2024 disajikan dalam bagian Kecelakaan           in the Occupational Accidents and Occupational Diseases section
Kerja dan Penyakit Akibat Kerja di Laporan Keberlanjutan.                  of the Sustainability Report.



Mekanisme Pengaduan                                                        Complaint Mechanism
Masalah Ketenagakerjaan                                                    for Employment Issues

Keluhan dan permasalahan terkait ketenagakerjaan baik secara               Employees can submit employment-related complaints and
lisan maupun tulisan, dapat disampaikan karyawan melalui                   problems, both verbally and in writing, through the following
mekanisme berikut.                                                         mechanism.

                                                                                                                 Permasalahan diselesaikan sesuai
                                                                                                                  peraturan perundang-undangan
                                                                                               Tidak                        yang berlaku
                                                                                                No              Problems are resolved in accordance
                                                                                                                      with the applicable laws
                                                                                                                          and regulations

                                        Permasalahan disampaikan secara
                                                                                 Musyawarah
                          Tidak          tertulis kepada Departemen HR
                                                                                  Deliberation
                           No            Issues are submitted in writing
                                                                              to reach consensus
                                              to the HR Department


    Pengaduan disampaikan kepada
   Kepala Departemen/Divisi terkait                                                           Selesai
 Complaints are submitted to the Head                                                          Done
    of related Department/Division



                          Selesai
                           Done



Selama tahun 2024, Departemen HR tidak menerima pengaduan                  Throughout 2024, HR Department did not receive any complaints
terkait isu ketenagakerjaan.                                               regarding employment issue.




                                                                                                        Laporan Tahunan 2024 Annual Report     67
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Aspek Pendukung Operasional




Teknologi Informasi
Information Technology



Di era kemajuan pesat dan transformasi digital, Perseroan terus         In the era of rapid progress and digital transformation, the
berkomitmen untuk mempersiapkan diri menghadapi tren industri           Company remains committed to preparing itself to face the
yang terus berkembang. Saat sektor pertambangan beradaptasi             ever-evolving industry trends. As the mining sector adapts to
dengan lanskap yang dipengaruhi oleh otomatisasi, integrasi             a landscape influenced by automation, data integration, and
data, dan kecerdasan buatan, Perseroan telah memosisikan diri           artificial intelligence, the Company has positioned itself at the
di garis depan dengan berbagai penerapan inovasi teknologi.             forefront with various applications of technological innovation.
Dengan memanfaatkan digitalisasi dan teknologi kecerdasan,              By utilizing digitalization and intelligence technology, the
Perseroan terus mengoptimalkan efisiensi operasional,                   Company continues to optimize operational efficiency, improve
meningkatkan keberlanjutan, dan menciptakan nilai bagi para             sustainability, and create value for stakeholders.
pemangku kepentingan.


Sejak tahun 2020, Perseroan membentuk Divisi Digital &                  Since 2020, the Company has established the Digital &
Technology Solutions (DIGITECH) sebagai katalisator inovasi             Technology Solutions (DIGITECH) Division as an innovation
yang terus mengembangkan inovasi digital berbasis kecerdasan            catalyst that constantly develops digital innovations based
buatan (artificial intelligence/AI), mencakup seluruh proses            on artificial intelligence (AI), covering the entire mining cycle
siklus pertambangan, mulai dari proses produksi, proses inventory       process, from production process, inventory process in Run
dalam Run of Mine (ROM) Stockpile, proses pengantaran batu              of Mine (ROM) Stockpile, coal hauling process to coal loading
bara (coal hauling) hingga proses pemuatan batu bara di area            process in the port area (barging, transshipment, and sales), as
pelabuhan (barging, transshipment, and sales), serta proses             well as supporting processes that support the main business such
pendukung yang menjadi penyangga bisnis utama, seperti                  as health, mining safety, and the environment; General Affairs;
kesehatan, keselamatan pertambangan, serta lingkungan;                  and finance are not exempt from the perimeter of continuous
General Affairs; maupun keuangan tidak luput dalam perimeter            improvement. This creates added value, accountability, and
perbaikan berkelanjutan. Hal ini menciptakan nilai tambah,              efficiency for the Company.
akuntabilitas, dan efisiensi bagi perusahaan.


Pada Laporan Tahunan 2024 ini Perseroan menyoroti perjalanan            In this 2024 Annual Report, the Company highlights the journey
menuju ekosistem pertambangan yang siap menghadapi masa                 towards a mining ecosystem that is ready to face the future.
depan. Beberapa proyek yang dijalankan oleh Perseroan sebagai           Several projects run by the Company are as follows.
berikut.


                                                                    1

           Mendorong Efisiensi dan Pertumbuhan dengan
      Migrasi SAP Rise dan Inovasi Robotic Process Automation
                   (RPA) untuk Masa Depan Bisnis
                 Driving Efficiency and Growth with
     SAP Rise Migration and Robotic Process Automation (RPA)
               Innovation for the Future of Business




a. Meningkatkan Keunggulan Bisnis Perjalanan Migrasi                    a. Enhancing Business Excellence of SAP Rise Migration
   SAP Rise                                                                Journey
   Dengan memanfaatkan kemampuan SAP Rise, Perseroan                       By leveraging SAP Rise capabilities, the Company has
   telah merampingkan operasinya, meningkatkan pengambilan                 streamlined its operations, improved data-driven decision-
   keputusan berbasis data, dan memperkuat daya saingnya di                making, and strengthened its competitiveness across the
   seluruh industri pertambangan dan sekitarnya. Proses migrasi            mining industry and beyond. The migration process has
   telah memungkinkan Perseroan untuk mengintegrasikan unit                enabled the Company to seamlessly integrate its diverse
   bisnisnya yang beragam dengan mulus, memastikan visibilitas             business units, ensuring real-time visibility and agility in




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                                                                                                              Operational Supporting Aspects




   real-time dan kelincahan dalam merespons dinamika pasar.              responding to market dynamics. SAP Rise is a complete
   SAP Rise adalah solusi lengkap untuk transformasi digital             solution for digital transformation that helps businesses
   yang membantu bisnis beralih ke cloud. Fitur utama meliputi:          move to the cloud. Key features include:
   1) S/4HANA Cloud, ERP berbasis cloud yang dapat                       1) S/4HANA Cloud, a cloud-based ERP that can be
       disesuaikan dengan kebutuhan spesifik organisasi,                     customized to an organization’s specific needs, driving
       mendorong produktivitas di berbagai lini bisnis.                      productivity across multiple lines of business.
   2) Business Process Intelligence, pengelolaan dan                     2) Business Process Intelligence, business process
       pengoptimalan proses bisnis yang memungkinkan                         management        and    optimization     that   enables
       organisasi beradaptasi dengan perubahan secara efektif.               organizations to adapt to change effectively.
   3) SAP Business Technology Platform, yang terintegrasi,               3) SAP Business Technology Platform, which is integrated,
       dan otomatisasi memperkuat inti bisnis dengan                         and automation strengthens the core business with
       kemampuan tambahan.                                                   additional capabilities.
b. Memberdayakan Efisiensi dalam Setiap Keunggulan                    b. Empowering Efficiency in Every Advantage of RPA
   Teknologi RPA                                                         Technology
   Pada tahun 2024, Perseroan menerapkan teknologi RPA                   In 2024, the Company implemented RPA technology to
   untuk menyederhanakan proses pengadaan yang kompleks,                 simplify complex procurement processes, transforming
   mengubah alur kerja tradisional menjadi operasi yang                  traditional workflows into seamless and automated
   mulus dan otomatis. Dengan memanfaatkan RPA, Perseroan                operations. By leveraging RPA, the Company ensures accuracy
   memastikan akurasi dalam permintaan pembelian,                        in purchase requisitions, optimizes supplier management,
   mengoptimalkan manajemen pemasok, dan mencapai                        and achieves cost savings through better resource allocation.
   penghematan biaya melalui alokasi sumber daya yang lebih
   baik.


                                                                  2
                       Dari Data Menjadi Aksi Peran Dashboard Analitik dalam Transformasi Digital GEMS
                     From Data to Action, The Role of Analytical Dashboards in GEMS Digital Transformation



a. Peningkatan Tata Kelola Keuangan dengan Budget Control             a. Improving Financial Governance with Budget Control
   Monitoring Dashboard                                                  Monitoring Dashboard
   Pada tahun 2024, Perseroan dengan Entitas Anak, BIB, terus            In 2024, the Company and its Subsidiary, BIB, continued
   memperkuat tata kelola keuangan yang transparan dan                   to strengthen transparent and accountable financial
   akuntabel melalui implementasi Budget Control Monitoring              governance through utilizing Budget Control Monitoring
   Dashboard, yakni Finance Accounting Management System                 Dashboard, which is the Finance Accounting Management
   (FAMS). Sistem ini dirancang untuk memberikan visibilitas             System (FAMS). This system is designed to provide real-time
   real-time terhadap alokasi, penggunaan, dan sisa anggaran             visibility into budget allocation, usage, and remaining budget
   di seluruh unit bisnis. Dengan fitur analitik yang canggih,           across all business units. With advanced analytical features,
   dashboard ini memungkinkan identifikasi dini terhadap                 this dashboard enables early identification of potential
   potensi penyimpangan anggaran, sehingga keputusan                     budget deviations, and thus, strategic decisions can be taken
   strategis dapat diambil dengan lebih cepat dan akurat.                more quickly and accurately.


    Melalui pendekatan ini, Perseroan berhasil meningkatkan               Through this approach, the Company has succeeded in
    efisiensi dalam pengelolaan sumber daya keuangan,                     increasing efficiency in managing financial resources,
    memastikan setiap pengeluaran selaras dengan prioritas                ensuring that every expenditure is aligned with the
    strategis perusahaan. Dashboard ini juga memperkuat                   Company’s strategic priorities. This dashboard also
    kemampuan pelaporan yang transparan, mendukung                        strengthens transparent reporting capabilities, supports
    kepatuhan terhadap regulasi, dan meningkatkan kepercayaan             regulatory compliance, and increases stakeholder trust in
    pemangku kepentingan terhadap tata kelola perusahaan.                 corporate governance. This initiative reflects the Company’s
    Inisiatif ini mencerminkan komitmen Perseroan untuk                   commitment to implementing sustainable, efficient financial
    menjalankan praktik keuangan yang berkelanjutan, efisien,             practices that support long-term growth.
    dan mendukung pertumbuhan jangka panjang.




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Aspek Pendukung Operasional




b. Manajemen Keselamatan yang Proaktif dengan Sistem                  b. Proactive Safety Management with Analytical Camera
   Kamera Analitik Monitoring Dashboard                                  System Monitoring Dashboard
   Sistem analitik canggih (“SiCantik”), dikembangkan dengan             The advanced analytical system (“SiCantik”) was carefully
   saksama untuk meningkatkan kemampuan pengawasan                       developed to enhance surveillance capabilities of
   closed circuit television (CCTV) melalui kolaborasi inteligensi       closed-circuit television (CCTV) through intelligent
   antara manusia (pekerja) dan kecerdasan buatan (mesin).               collaboration between humans (workers) and artificial
   Inovasi ini mencapai pengakuan nasional dengan:                       intelligence (machines). This innovation has achieved national
                                                                         recognition with:
    1) Surat Penetapan Cipta Kategori Modul dan Karya                    1) Letter of Determination of Creation for the Video Storage
       Penyimpanan Video pada tanggal 1 Juli 2024; dan                       Module and Work Category on July 1st, 2024; and
    2) Penghargaan Subroto 2024: Bidang Inovasi Keteknikan               2) Subroto Award 2024: Engineering and Environmental
       dan Lingkungan Minerba pada tanggal 10 Oktober 2024.                  Innovation on Mineral and Coal Field on October 10th,
                                                                             2024.
    3) SiCantik dilengkapi dengan kecerdasan buatan yang                 3) SiCantik is equipped with artificial intelligence that has
       telah terpasang di beberapa area BIB dengan tujuan                    been installed in several BIB areas with the following
       sebagai berikut.                                                      objectives.
       a) Mendeteksi alat-alat berat yang melakukan aktivitas                a) Detecting heavy equipment that performs activities
           di area dumping kritis penambangan.                                    in critical mining dumping areas.
       b) Memantau berbagai jenis pelanggaran di jalan                       b) Monitoring various types of violations on coal
           pengantaran batu bara.                                                 delivery roads.
       c) Mendeteksi pelanggaran terhadap kelengkapan                        c) Detecting violations of the completeness of personal
           alat pelindung diri dan perilaku individu di area                      protective equipment and individual behavior in the
           pelabuhan.                                                             port area.
       d) Mendeteksi perilaku kerja aman di area kerja kantor                d) Detecting safe work behavior in the office and
           maupun workshop.                                                       workshop work areas.


    Pemantauan SiCantik ini bukan hanya dilakukan oleh internal           SiCantik monitoring is not only carried out by the Company
    perusahaan namun juga oleh para mitra kerja.                          internally but also by work partners.


c. Uscavis “Unified Scada Vision”                                     c. Uscavis “Unified Scada Vision”
   Tujuan utama solusi digitalisasi ini adalah untuk                     The main objective of this digitalization solution is to
   mengintegrasikan atau membuka akses data yang                         integrate or open access to data that was previously only
   sebelumnya hanya tersedia bagi sebagian personel di                   available to some personnel at the port location. This is done
   lokasi pelabuhan. Hal ini dilakukan melalui Supervisory               through Supervisory Control and Data Acquisition (SCADA),
   Control and Data Acquisition (SCADA), yang saat ini                   which is currently used to operate the plant in Bunati area,
   digunakan untuk mengoperasikan plant di area Bunati,                  and connecting it with several other applications/systems/
   serta menghubungkannya dengan beberapa aplikasi/                      platforms, such as Fleet Management System (FAMOUS),
   sistem/platform lainnya, seperti Fleet Management System              Coal Chain Management (CCM), Rambu Pendahulu
   (FAMOUS), Coal Chain Management (CCM), Rambu Pendahulu                Penunjuk Jalan (RPPJ), Unified GEMS (U-GEMS) Super Apps
   Penunjuk Jalan (RPPJ), Unified GEMS (U-GEMS) Super Apps               Platform, and other relevant applications. This application
   Platform, dan aplikasi lain yang relevan. Aplikasi ini dirancang      is designed to facilitate access control, monitoring, and
   untuk mempermudah kontrol akses, monitoring, dan operasi              remote operations for authorized personnel appointed by
   jarak jauh bagi personil yang berwenang dan ditunjuk oleh             BIB. In addition, the application is equipped with alert/alarm
   pihak BIB. Selain itu, aplikasi tersebut dilengkapi dengan            threshold functions, interactive visualizations (including
   fungsi alert/alarm threshold, visualisasi interaktif (termasuk        charts and data), and analytics that are in accordance with
   chart dan data), serta analitik yang sesuai dengan kebutuhan          business needs. All these features are expected to provide
   bisnis. Semua fitur ini diharapkan dapat memberikan insight           in-depth insights, support the achievement of loading targets
   yang mendalam, mendukung pencapaian target loading di                 on the barge, and ultimately increase productivity and sales.
   barge, dan pada akhirnya meningkatkan produktivitas serta
   penjualan.




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                                                                                                              Operational Supporting Aspects




d. Sistem Informasi Usaha Jasa (“SiniSaja”)                           d. Service Business Information System (“SiniSaja”)
   Solusi digital yang dikembangkan khusus untuk Divisi                  A digital solution developed specifically for BIB’s Health,
   Health, Safety, and Environment (HSE) BIB bertujuan untuk             Safety, and Environment (HSE) Division, aiming to identify
   mengidentifikasi dan memastikan kepatuhan izin dokumen                and ensure compliance with Company document permits
   perusahaan bagi kontraktor atau mitra kerja yang akan                 for contractors or work partners who will operate in BIB
   beroperasi di lingkungan BIB secara aman dan terkendali.              environment safely and under control. SiniSaja has been
   SiniSaja telah terintegrasi dengan sistem korporasi                   integrated with iSupplier corporate system, which ensures
   iSupplier, yang memastikan kesinambungan proses mulai                 continuity of the process from contractor/partner registration
   dari pendaftaran kontraktor/mitra hingga pemenuhan                    to fulfilling the prerequisites for obtaining an Operation
   prasyarat untuk memperoleh Surat Izin Operasi (SIO) dan               Permit (SIO) and Project Activity Commencement Permit
   Izin Memulai Kegiatan Proyek (IMKP). Seluruh sistem ini juga          (IMKP). This entire system also supports the authorization
   mendukung proses otorisasi melalui sistem tanda tangan                process through the Company’s digital signature system,
   digital perusahaan, USign, sehingga meningkatkan efisiensi            USign, thereby increasing administrative efficiency and
   dan keamanan administrasi.                                            security.


    Ke depan, pengembangan SiniSaja akan diperluas untuk              In the future, SiniSaja development will be expanded to include
    mencakup pertanggungjawaban kegiatan kerja secara rutin,          routine work activity accountability, to ensure that the Company
    guna memastikan perusahaan selalu menerima kualitas kerja         always receives optimal work quality and high accountability
    yang optimal dan akuntabilitas yang tinggi dari setiap mitra.     from each partner.



                                3

       Konektivitas Cerdas dan Teknologi Canggih untuk
        Mendorong Keberlanjutan dengan Mining Eyes,
        Pembangunan Fiber Optic, serta Teknologi RPPJ
         Smart Connectivity and Advanced Technology
       to Drive Sustainable with Mining Eyes, Fiber Optic,
                      and RPPJ Technology




Konektivitas Tanpa Hambatan untuk Operasi dengan Very
Small Aperture Terminal (VSAT) Starlink dan Fiber Optik
Program ini menghadirkan konektivitas internet berkecepatan
tinggi dan andal di lokasi-lokasi tambang terpencil, memastikan
komunikasi dan transmisi data yang tidak terputus. Transformasi
ini meningkatkan kolaborasi real-time, mengoptimalkan alokasi
sumber daya, serta meningkatkan efisiensi operasional. Lebih dari
itu, inisiatif ini menjadi fondasi utama bagi transformasi digital,
mendukung solusi tambang pintar dan sistem pemantauan
berbasis Internet of Things (IoT).


Seamless Connectivity for Operations with Starlink Very Small
Aperture Terminal (VSAT) and Fiber Optic
The program brings high-speed and reliable internet connectivity
to remote mining sites, ensuring uninterrupted communication
and data transmission. This transformation enhances real-time
collaboration, optimizes resource allocation, and improves
operational efficiency. Moreover, this initiative lays the
foundation for digital transformation, supporting smart mining
solutions and Internet of Things (IoT)-based monitoring system.




                                                                                               Laporan Tahunan 2024 Annual Report     71
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Tata Kelola Perusahaan




TATA KELOLA PERUSAHAAN
Corporate Governance

Komitmen Penerapan Tata Kelola Perusahaan
Commitment to Implementing Corporate Governance

Perseroan menjadikan prinsip tata kelola perusahaan yang baik             The Company puts good corporate governance (GCG) principles
(good corporate governance/GCG) sebagai pedoman utama                     as the main guidelines in running its business activities. These
dalam menjalankan aktivitas bisnis. Penerapan prinsip ini secara          principles are consistently and continuously applied, and thus, not
konsisten dan berkesinambungan tidak hanya menciptakan                    only create a positive image for the Company, but also increase
citra yang positif bagi perusahaan, tetapi juga meningkatkan              investor confidence. Therefore, the Company is committed to
kepercayaan investor. Oleh karena itu, Perseroan berkomitmen              implementing best practices in GCG management.
untuk mengimplementasikan praktik terbaik dalam pengelolaan
GCG.


Dalam rangka memastikan bahwa penerapan GCG sesuai dengan                 To ensure that GCG is applied in accordance with best practices,
praktik terbaik, Perseroan berpedoman pada berbagai ketentuan             the Company is guided by various provisions and regulations,
dan peraturan, antara lain:                                               among others, as follows:
1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan                      1. Law No. 40 of 2007 on Limited Liability Companies;
    Terbatas;
2. Peraturan Otoritas Jasa Keuangan No. 21/POJK.04/2015                   2. Financial Services Authority Regulation No. 21/POJK.04/2015
    tentang Penerapan Pedoman Tata Kelola Perusahaan                         on Implementation of Governance Guidelines for Public
    Terbuka;                                                                 Companies;
3. Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015               3. Financial Services Authority Circular No. 32/SEOJK.04/2015
    tentang Pedoman Tata Kelola Perusahaan Terbuka;                          on Guidelines for Governance for Public Companies;
4. ASEAN Corporate Governance Scorecard (ACGS); dan                       4. ASEAN Corporate Governance Scorecard (ACGS); and
5. Pedoman        Umum      Governansi  Korporat    Indonesia             5. General Guidelines for Indonesian Corporate Governance
    (PUGKI) 2021 yang diterbitkan oleh Komite Nasional                       (PUGKI) 2021 issued by the National Committee on
    Kebijakan Governansi.                                                    Governance Policy.


Selain itu, Perseroan menerapkan 4 pilar governansi korporat              Furthermore, the Company implements 4 pillars of corporate
guna menciptakan lingkungan bisnis yang sehat dan berkelanjutan           governance to create a sound and sustainable business
sebagai berikut.                                                          environment as follows.


     Pilar Governansi Korporat                                             Implementasi di Perseroan
    Corporate Governance Pillars                                         Implementation in the Company

                                          • Menegakkan kode etik yang mengatur perilaku karyawan dan manajemen untuk menjaga integritas dan
                                            menghindari konflik kepentingan dalam operasional perusahaan;
                                          • Menerapkan kebijakan anti-korupsi, termasuk mekanisme pelaporan pelanggaran, guna menciptakan
                                            lingkungan kerja yang bersih dan bebas dari tindakan melanggar hukum; serta
                                          • Menyelenggarakan pelatihan kepada karyawan untuk memastikan semua pihak memahami dan
 Perilaku Beretika                          mematuhi standar etika perusahaan.
 Ethical Conduct                          • Enforcing a code of conduct that regulates employee’s and management’s behavior to maintain
                                            integrity and avoid conflicts of interest in Company operations;
                                          • Implementing anti-corruption policies, including violation reporting mechanisms, to create a clean
                                            work environment that is free from illegal acts; and
                                          • Conducting employee training to ensure that all parties understand and comply with the Company's
                                            ethical standards.

                                          • Mempublikasikan Laporan Keuangan, Laporan Tahunan, dan Laporan Keberlanjutan yang dapat diakses
                                            publik melalui Bursa Efek Indonesia dan situs web perusahaan;
                                          • Mengungkapkan setiap informasi material yang memengaruhi keputusan investor dan Pemegang
                                            Saham secara tepat waktu; serta
                                          • Mengkomunikasikan informasi penting kepada pemangku kepentingan, termasuk Pemegang Saham
 Transparansi                               dan publik, melalui berbagai saluran komunikasi.
 Transparency                             • Publishing Financial Statements, Annual Report, and Sustainability Report that are publicly accessible
                                            through Indonesia Stock Exchange and the company's website;
                                          • Disclosing any material information that influences investor’s and Shareholder’s decisions in a timely
                                            manner; and
                                          • Communicating important information to stakeholders, including Shareholders and the public, through
                                            various communication channels.



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                                                                                                                              Corporate Governance




    Pilar Governansi Korporat                                            Implementasi di Perseroan
   Corporate Governance Pillars                                        Implementation in the Company

                                        • Menetapkan tugas yang jelas untuk Direksi dan Dewan Komisaris, serta melibatkan Komite Audit untuk
                                          memastikan kepatuhan terhadap peraturan;
                                        • Melaksanakan audit internal secara berkala untuk memantau kepatuhan terhadap standar operasional
                                          dan efisiensi perusahaan; serta
                                        • Menyusun laporan berkala untuk mendokumentasikan pelaksanaan tugas dan kinerja yang dicapai oleh
 Akuntabilitas                            manajemen dan Komite Audit​.
 Accountability                         • Establishing clear duties for the Board of Directors and Board of Commissioners, and involving the Audit
                                          Committee to ensure compliance with regulations;
                                        • Conducting periodic internal audit to monitor compliance with operational standards and Company
                                          efficiency; and
                                        • Preparing periodic report to document the implementation of duties and performance achieved by
                                          management and the Audit Committee.

                                        • Mengelola lingkungan di area tambang dengan menerapkan praktik ramah lingkungan, seperti program
                                          penghijauan dan pengelolaan limbah;
                                        • Melaksanakan program tanggung jawab sosial yang fokus pada peningkatan kesejahteraan masyarakat
                                          sekitar, seperti inisiatif pendidikan, kesehatan, dan pembangunan infrastruktur; serta
                                        • Mengimplementasikan berbagai inisiatif berkelanjutan yang bertujuan untuk mengurangi dampak
 Keberlanjutan                            lingkungan dan mendukung masyarakat lokal di sekitar area tambang​.
 Continuity                             • Managing the environment in mining areas by implementing eco-friendly practices, such as reforestation
                                          programs and waste management;
                                        • Running social responsibility programs that focus on improving the surrounding community welfare,
                                          such as education, health, and infrastructure development initiatives; and
                                        • Implementing various sustainable initiatives that aim to reduce environmental impacts and support
                                          local communities around the mining areas.




Struktur, Mekanisme, dan Kebijakan Penerapan GCG
Structure, Mechanism, and Policy of GCG Implementation


Struktur GCG                                                            GCG Structure

Perseroan berupaya menciptakan sistem yang transparan,                  The Company strives to create a transparent, accountable, and
akuntabel, dan beretika dalam pengelolaan bisnis. Oleh karena           ethical system in business management. Therefore, the Company
itu, Perseroan membentuk struktur GCG dengan berlandaskan               has formed a GCG structure based on Law No. 40 of 2007 on
pada Undang-Undang No. 40 Tahun 2007 tentang Perseroan                  Limited Liability Companies, the General Guidelines for Good
Terbatas, Pedoman Umum Good Corporate Governance                        Corporate Governance in Indonesia, and the Guidelines for Public
Indonesia, dan Pedoman Tata Kelola Perusahaan Terbuka.                  Company Governance.




                          Rapat Umum Pemegang Saham
                         General Meeting of Shareholders




    Dewan Komisaris                                                               Direksi
 Board of Commissioners                                                      Board of Directors




                                                                                 Satuan Kerja
       Komite Audit                Sekretaris Perusahaan                                                             Manajemen Risiko
                                                                                Internal Audit
      Audit Committee               Corporate Secretary                                                              Risk Management
                                                                             Internal Audit Unit




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Tata Kelola Perusahaan




Mekanisme GCG                                                            GCG Mechanism

Perseroan telah merumuskan mekanisme GCG untuk memastikan                The Company has formulated a GCG mechanism to ensure
pengelolaan bisnis yang efektif. Mekanisme ini bertujuan                 effective business management. This mechanism aims to
untuk menjaga hubungan antar organ perusahaan, sehingga                  maintain relationships among company organs, creating
akan menciptakan sinergi yang mampu memperkuat kinerja                   synergies to strengthen Company performance and encourage
perusahaan dan mendorong keberhasilan jangka panjang. Organ              long-term success. The Company organs consist of:
perusahaan tersebut terdiri dari:
1. Rapat Umum Pemegang Saham berfungsi sebagai forum                     1. The General Meeting of Shareholders that serves as a
    pengambilan keputusan bagi Pemegang Saham;                              decision-making forum for Shareholders;
2. Dewan Komisaris dan Direksi berfungsi sebagai organ yang              2. The Board of Commissioners and the Board of Directors that
    bertanggung jawab dalam pengawasan dan pengelolaan                      serve as the organs in charge of supervising and managing
    Perseroan;                                                              the Company;
3. Komite Audit berfungsi sebagai organ pendukung Dewan                  3. The Audit Committee that serves as a supporting organ for
    Komisaris dalam melakukan pengawasan; serta                             the Board of Commissioners in conducting supervision; and
4. Sekretaris Perusahaan, Satuan Kerja Audit Internal, dan               4. The Corporate Secretary, Internal Audit Unit, and Risk
    Manajemen Risiko berfungsi sebagai organ pendukung                      Management that serve as the organs that support the Board
    Direksi dalam mengelola perusahaan.                                     of Directors in managing the Company.



Kebijakan GCG                                                            GCG Policy

Perseroan berkomitmen untuk mematuhi seluruh kebijakan                   The Company is committed to complying with all GCG-related
yang berkaitan dengan GCG, sebagai wujud dalam melindungi                policies as a form of protecting the Company from legal risks
perusahaan dari risiko hukum serta mendukung pencapaian tujuan           and supporting the achievement of sustainable business goals.
bisnis yang berkelanjutan. Kebijakan tersebut dievaluasi secara          The policies are evaluated periodically to measure the level of
periodik untuk mengukur tingkat kesesuaian dengan kondisi saat           suitability with the current conditions. All employees at all levels
ini. Seluruh karyawan di semua level organisasi wajib mematuhi           of the organization are required to comply with the policies. The
kebijakan tersebut. Kebijakan yang dimaksud, antara lain:                policies include:
1. Anggaran Dasar;                                                       1. Articles of Association;
2. Piagam Dewan Komisaris;                                               2. Board of Commissioners Charter;
3. Piagam Direksi;                                                       3. Board of Directors Charter;
4. Piagam Komite Audit;                                                  4. Audit Committee Charter;
5. Piagam Internal Audit;                                                5. Internal Audit Charter;
6. Kode Etik; serta                                                      6. Code of Conduct; and
7. Peraturan lainnya.                                                    7. Other Regulations.




Penerapan Pedoman Tata Kelola Perusahaan Terbuka
Implementation of Governance Guidelines for Public Companies

Perseroan telah menyesuaikan penerapan GCG dengan Pedoman                The Company has adjusted the implementation of GCG with the
Tata Kelola Perusahaan Terbuka, yang disusun berdasarkan                 Governance Guidelines for Public Company, which is based on
Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015.                the Financial Services Authority Circular No. 32/SEOJK.04/2015.
Penerapan pedoman tersebut pada tahun 2024 diungkapkan                   The implementation of these guidelines in 2024 is disclosed in
dalam tabel berikut.                                                     the following table.


                     Aspek/Prinsip/Rekomendasi                                                          Keterangan
 No.                                                                   Status
                  Aspect/Principle/Recommendation                                                        Remarks

        Hubungan Perusahaan Terbuka dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham
  I.
        Relationship of Public Companies and Shareholders in Ensuring the Rights of Shareholders

  1.    Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS).
        Enhancing the Value of Convening General Meetings of Shareholders (GMS).

        a. Perusahaan Terbuka memiliki cara atau prosedur teknis Terpenuhi Anggaran Dasar Perseroan memuat aturan mengenai tata cara
           pengumpulan suara (voting), baik secara terbuka maupun          pemungutan suara (voting), baik secara terbuka maupun tertutup.
           tertutup yang mengedepankan independensi, dan kepentingan
           Pemegang Saham.



 74        PT Golden Energy Mines Tbk
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                                                                                                                               Corporate Governance




                   Aspek/Prinsip/Rekomendasi                                                                Keterangan
No.                                                                       Status
                Aspect/Principle/Recommendation                                                              Remarks

        Public Companies have a way or technical procedure for            Comply     The Company’s Articles of Association contain conduct for
        voting, both open and close, that promotes independency, and                 voting procedures, both open and closed.
        Shareholders’ interest.

      b. Seluruh anggota Dewan Komisaris dan anggota Direksi Terpenuhi Seluruh anggota Dewan Komisaris dan Direksi menghadiri
         Perusahaan Terbuka hadir dalam RUPS Tahunan.                         RUPS Tahunan pada 16 Mei 2024.
         All members of the Board of Commissioners and members of the  Comply All members of the Board of Commissioners and Board of
         Board of Directors of Public Companies attend the Annual GMS.        Directors attended the Annual GMS on May 16th, 2024.

      c. Ringkasan risalah RUPS tersedia dalam situs web Perusahaan Terpenuhi Ringkasan risalah RUPS dimuat dalam situs Perseroan pada
         Terbuka paling sedikit selama 1 tahun.                                  bagian Hubungan Investor > Rapat Umum Pemegang Saham.
         GMS minutes are available on the website of the public companies Comply A summary of the GMS minutes is published on the Company’s
         at least for 1 year.                                                    website in Investor Relations > General Meeting of
                                                                                 Shareholders section.

2.    Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
      Improving the Communication Quality of Public Companies with Shareholders or Investors.

      a. Perusahaan Terbuka memiliki suatu kebijakan komunikasi dengan Terpenuhi Perseroan memiliki kebijakan komunikasi dengan Pemegang
         Pemegang Saham atau investor.                                           Saham, sebagaimana diatur dalam Anggaran Dasar dan
                                                                                 dilaksanakan melalui Sekretaris Perusahaan.
         Public Companies have a communication policy with Shareholders Comply   The Company has a communication policy with Shareholders,
         or investors.                                                           as stipulated in the Articles of Association and implemented
                                                                                 through the Corporate Secretary.

      b. Perusahaan Terbuka mengungkapkan kebijakan komunikasi Terpenuhi Perseroan telah menyediakan laman Hubungan Investor yang
         Perusahaan Terbuka dengan Pemegang Saham atau investor              memuat informasi penting yang dibutuhkan oleh Pemegang
         dalam situs web.                                                    Saham atau investor.
         Public Companies disclose the communication policy of Public Comply The Company has provided an Investor Relations page that
         Companies with the Shareholders or investors on the website.        contains important information reqiored by Shareholders or
                                                                             investors.

      Fungsi dan Peran Dewan Komisaris
II.
      Function and Role of the Board of Commissioners

3.    Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.
      Strengthening the Membership and Composition of the Board of Commissioners.

      a. Penentuan jumlah anggota Dewan Komisaris mempertimbangkan Terpenuhi Jumlah anggota Dewan Komisaris telah sesuai kondisi terkini
         kondisi Perusahaan Terbuka.                                         Perseroan.
         Determination on total members of the Board of Commissioners Comply The number of Board of Commissioners’ members is in
         shall consider the condition of Public Companies.                   accordance with the Company’s current conditions.

      b. Penentuan komposisi anggota Dewan Komisaris memperhatikan Terpenuhi Anggota Dewan Komisaris yang menjabat saat ini memiliki
         keberagaman keahlian, pengetahuan, dan pengalaman yang                  keahlian, pengetahuan, dan pengalaman yang dibutuhkan
         dibutuhkan.                                                             Perseroan.
         Determination of the composition of members of the Board of      Comply The current members of the Board of Commissioners have the
         Commissioners shall pay attention to the diversity of expertise,        skills, knowledge, and experience required by the Company.
         knowledge, and experience required.

4.    Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.
      Improving the Implementation Quality of Duties and Responsibilities of the Board of Commissioners.

      a. Dewan Komisaris mempunyai kebijakan penilaian sendiri (self- Terpenuhi Penilaian kinerja Dewan Komisaris dilaksanakan secara mandiri
         assessment) untuk menilai kinerja Dewan Komisaris.                     (self-assessment).
         Board of Commissioners has a self-assessment policy to assess Comply   The performance assessment of the Board of Commissioners is
         the performance of the Board of Commissioners.                         carried out through self-assessment.

      b. Kebijakan penilaian sendiri (self-assessment) untuk menilai Terpenuhi Penilaian kinerja Dewan Komisaris telah diungkapkan dalam
         kinerja Dewan Komisaris diungkapkan melalui Laporan Tahunan             Laporan Tahunan ini.
         Perusahaan Terbuka.
         Policy of self-assessment to assess the performance of the Board Comply The Board of Commissioners’ performance assessment has
         of Commissioners is disclosed through the Annual Report of              been disclosed in this Annual Report.
         Public Companies.

      c. Dewan Komisaris mempunyai kebijakan terkait pengunduran Terpenuhi Kebijakan terkait pengunduran diri anggota Dewan Komisaris,
         diri anggota Dewan Komisaris apabila terlibat dalam kejahatan            termasuk apabila terlibat dalam kejahatan keuangan, telah diatur
         keuangan.                                                                dalam Piagam Dewan Komisaris dan Anggaran Dasar Perseroan.
                                                                                  The policy related to resignation of Board of Commissioners’
         Board of Commissioners has a policy related to the resignation of Comply members, including if involved in financial crimes, has been
         members of the Board of Commissioners if involved in financial           regulated in the Board of Commissioners Charter and the
         crimes.                                                                  Company’s Articles of Association.

      d. Dewan Komisaris atau Komite yang menjalankan fungsi nominasi Terpenuhi Dewan Komisaris sebagai pihak yang menjalankan fungsi
         dan remunerasi menyusun kebijakan suksesi dalam proses                   nominasi dan remunerasi Perseroan memiliki kebijakan suksesi
         nominasi anggota Direksi.                                                sebagaimana dimuat dalam Piagam Dewan Komisaris.
         Board of Commissioners or the Committee who runs the function of  Comply The Board of Commissioners as the party who runs the function of
         nomination and remuneration shall formulate the succession policy        nomination and remuneration of the Company has a succession
         in the nomination process of members of the Board of Directors.          policy as specified in the Board of Commissioners Charter.




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Tata Kelola Perusahaan




                      Aspek/Prinsip/Rekomendasi                                                              Keterangan
 No.                                                                        Status
                   Aspect/Principle/Recommendation                                                            Remarks

         Fungsi dan Peran Direksi
  III.
         Function and Role of the Board of Directors

  5.     Memperkuat Keanggotaan dan Komposisi Direksi.
         Strengthening the Membership and Composition of the Board of Directors.

         a. Penentuan jumlah anggota Direksi mempertimbangkan kondisi Terpenuhi Jumlah anggota Direksi telah sesuai kondisi terkini Perseroan.
            Perusahaan Terbuka serta efektivitas dalam pengambilan
            keputusan.
            Determination of the total members of the Board of Directors Comply The number of Board of Directors’ members is in accordance
            shall consider the condition of Public Companies and the            with the Company’s current conditions.
            effectiveness in the decision making.

         b. Penentuan komposisi anggota Direksi memperhatikan Terpenuhi Anggota Direksi yang menjabat saat ini memiliki keahlian,
            keberagaman keahlian, pengetahuan, dan pengalaman yang                 pengetahuan, dan pengalaman yang dibutuhkan Perseroan.
            dibutuhkan.
            Determination of the composition of members of the Board        Comply The current members of the Board of Directors have the skills,
            of Directors shall pay attention to the diversity of expertise,        knowledge, and experience required by the Company.
            knowledge, and experience required.

         c. Anggota Direksi yang membawahi bidang akuntansi atau Terpenuhi Direksi yang membawahi bidang akuntansi dan keuangan
            keuangan memiliki keahlian dan/atau pengetahuan di bidang              memiliki pengetahuan dan pengalaman di bidang terkait.
            akuntansi.
            The member of the Board of Directors supervising the accounting Comply The Director supervising accounting and finance department
            or finance department shall have the expertise and/or knowledge        has knowledge and expertise in the relevant field.
            in the accounting field.

  6.     Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi.
         Enhancing the Implementation Quality of Duties and Responsibilities of the Board of Directors.

         a. Direksi mempunyai kebijakan penilaian sendiri (self-assessment) Terpenuhi Penilaian kinerja Direksi dilaksanakan secara mandiri (self-
            untuk menilai kinerja Direksi.                                            assessment), melalui metode penilaian balance scorecard dan
                                                                                      3600 feedback.
            Board of Directors has a policy of self-assessment to assess the Comply   The performance assessment of the Board of Directors is
            performance of the Board of Directors.                                    carried out in a self-assessment manner, through a method of
                                                                                      balance scorecard and 360° feedback assessment.

         b. Kebijakan penilaian sendiri (self-assessment) untuk menilai Terpenuhi Penilaian kinerja Direksi telah diungkapkan dalam Laporan
            kinerja Direksi diungkapkan melalui Laporan Tahunan Perusahaan        Tahunan ini.
            Terbuka.
            Self-assessment policy to assess the performance of            Comply The Board of Directors’ performance assessment has been
            the Board of Directors is disclosed in the Annual Report              disclosed in this Annual Report.
            of Public Companies.

         c. Direksi mempunyai kebijakan terkait pengunduran diri anggota Terpenuhi Kebijakan terkait pengunduran diri anggota Direksi, termasuk
            Direksi apabila terlibat dalam kejahatan keuangan.                     apabila terlibat dalam kejahatan keuangan, telah diatur dalam
                                                                                   Piagam Direksi dan Anggaran Dasar Perseroan.
            Board of Directors has a policy related to the resignation of  Comply  The policy related to resignation of Board of Directors’
            members of Board of Directors if involved in financial crimes.         members, including if involved in financial crimes, has been
                                                                                   regulated in the Board of Directors Charter and the Company’s
                                                                                   Articles of Association.

         Partisipasi Pemangku Kepentingan
  IV.
         Participation of Stakeholders

  7.     Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.
         Enhancing the Corporate Governance Aspect through Participation of Stakeholders.

         a. Perusahaan Terbuka memiliki kebijakan untuk mencegah Terpenuhi Perseroan memiliki kebijakan untuk mencegah insider trading
            terjadinya insider trading.                                        yang tercantum dalam Kode Etik dan standard operating
                                                                               procedure (SOP).
            Public Companies have a policy to prevent the occurrence of Comply The Company has a policy to prevent insider trading, which
            insider trading.                                                   is stated in the Code of Conduct and standard operating
                                                                               procedures (SOP).

         b. Perusahaan Terbuka memiliki kebijakan anti-korupsi dan Terpenuhi Kebijakan anti-korupsi dan anti-fraud tercantum dalam Kode
            anti-fraud.                                                            Etik dan SOP Perseroan.
            Public Companies have an anti-corruption and anti-fraud policy. Comply Anti-corruption and anti-fraud policies are stated in the
                                                                                   Company’s Code of Conduct and SOPs.

         c. Perusahaan Terbuka memiliki kebijakan tentang seleksi dan Terpenuhi Kebijakan ini tercantum dalam Kode Etik, SOP, serta situs web
            peningkatan kemampuan pemasok atau vendor.                          Perseroan bagian Tata Kelola Perusahaan > Kebijakan Terkait
                                                                                Seleksi Pemasok.
            Public Companies have a policy concerning the selection and Comply  This policy is specified in the Code of Conduct, SOP, and on
            improvement of suppliers or vendors capability.                     Company website under Corporate Governance > Policy
                                                                                Related to Selection of Suppliers.

         d. Perusahaan Terbuka memiliki kebijakan tentang pemenuhan Terpenuhi Kebijakan ini dimuat dalam Kode Etik dan SOP Perseroan.
            hak-hak kreditur.                                                 Sepanjang tahun 2024, Perseroan telah memenuhi seluruh
                                                                              kewajiban kepada kreditur dengan tepat waktu serta memenuhi
                                                                              rasio finansial yang ditetapkan kreditur.



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                                                                                                                               Corporate Governance




                     Aspek/Prinsip/Rekomendasi                                                              Keterangan
 No.                                                                      Status
                  Aspect/Principle/Recommendation                                                            Remarks

         Public Companies have a policy concerning the selection and      Comply    This policy is contained in the Company’s Code of Conduct and
         improvement of suppliers or vendors capability.                            SOPs. Throughout 2024, the Company fulfilled all obligations
                                                                                    to creditors in a timely manner and met the financial ratios set
                                                                                    by creditors.

       e. Perusahaan Terbuka memiliki kebijakan sistem whistleblowing.   Terpenuhi Perseroan telah memiliki kebijakan, sarana pengaduan, dan
                                                                                   tim pengelola whistleblowing system. Kebijakan tersebut telah
                                                                                   diterapkan secara efektif di lingkungan Perseroan.
         Public Companies have a policy on whistleblowing system.         Comply   The Company has policies, complaint channels, and a
                                                                                   whistleblowing system management team. The policy has been
                                                                                   implemented effectively in the Company’s environment.

       f. Perusahaan Terbuka memiliki kebijakan pemberian insentif Terpenuhi Meskipun tidak memiliki insentif jangka panjang berupa
          jangka panjang kepada Direksi dan karyawan.                             ESOP/MSOP, namun Perseroan memiliki program car ownership
                                                                                  program (COP) bagi karyawan tetap sebagai bagian dari
                                                                                  pemberian insentif jangka panjang kepada karyawan Perseroan.
          Public Companies have a policy on giving long term incentives to Comply Although the Company does not have long-term incentives
          Board of Directors and employees.                                       such as ESOP/MSOP, the Company has a Car Ownership
                                                                                  Program (COP) for the Company’s permanent employees
                                                                                  as part of providing long-term incentives to the Company’s
                                                                                  employees.

       Keterbukaan Informasi
  V.
       Information Disclosure

  8.   Meningkatkan Pelaksanaan Keterbukaan Informasi.
       Improving the Implementation of Information Disclosure.

       a. Perusahaan Terbuka memanfaatkan penggunaan teknologi Terpenuhi Selain situs web, Perseroan memanfaatkan media sosial sebagai
          informasi secara lebih luas selain situs web sebagai media        sarana keterbukaan informasi, sehingga para pemangku
          keterbukaan informasi.                                            kepentingan dapat dengan mudah mengakses informasi
                                                                            tentang Perseroan.
          Public Companies take advantage of the use of information  Comply In addition to the website, the Company utilizes social media as
          technology more broadly other than website as the media of        a means of information disclosure, and thus, stakeholders can
          information disclosure.                                           easily access information about the Company.

       b. Laporan Tahunan Perusahaan Terbuka mengungkapkan pemilik Terpenuhi Perseroan tidak memiliki Pemegang Saham paling sedikit 5%,
          manfaat akhir dalam kepemilikan saham Perusahaan Terbuka                 kecuali Pemegang Saham Utama dan/atau Pengendali, dengan
          paling sedikit 5%, selain pengungkapan pemilik manfaat                   informasi terkait pemilik manfaat akhir telah diungkapkan
          akhir dalam kepemilikan saham Perusahaan Terbuka melalui                 pada bagian Pemegang Saham Utama dan Pengendali dalam
          Pemegang Saham Utama dan Pengendali.                                     Laporan Tahunan ini.
          Annual Report of the Public Companies shall disclose the ultimate Comply The Company does not have Shareholders with at least 5%
          beneficial owner in the shareholding of public companies of at           share ownership, except the Majority and/or Controlling
          least 5%, beside the disclosure of the ultimate beneficial owner         Shareholders, and the information on the ultimate beneficial
          in the shareholding of public companies through the Majority and         owner has been disclosed on the Majority and Controlling
          Controlling Shareholders.                                                Shareholders section of this Annual Report.




Penilaian Penerapan GCG
Evaluation of GCG Implementation


Perseroan berkomitmen untuk senantiasa meningkatkan                        The Company is committed to constantly improving its
kualitas penerapan GCG. Komitmen tersebut diwujudkan melalui               GCG implementation quality, which is realized through GCG
penilaian GCG yang dilakukan oleh pihak ketiga berdasarkan                 assessments conducted by a third-party based on the disclosure
pengungkapan Laporan Tahunan dan Laporan Keberlanjutan                     of the Annual Report and Sustainability Report published on the
yang dipublikasikan pada situs web perusahaan. Tujuan dari                 Company’s website. The purpose of this assessment is to measure
penilaian ini untuk mengukur kedalaman implementasi praktik                the depth of GCG implementation in the Company.
GCG di Perseroan.


Atas upaya tersebut, Perseroan meraih penghargaan “Top 50                  For such efforts, the Company won the “Top 50 Big Capitalization
Big Capitalization Public Listed Company” dari Indonesian                  Public Listed Company” award from the Indonesian Institute for
Institute for Corporate Directorship (IICD) untuk periode 2024,            Corporate Directorship (IICD) for the 2024 period, with a position
dengan posisi di peringkat 31–40. Penghargaan ini berhasil diraih          of 31–40. This award was successfully achieved by the Company
Perseroan selama 11 periode berturut-turut.                                for 11 consecutive periods.




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Tata Kelola Perusahaan




Rapat Umum Pemegang Saham
General Meeting of Shareholders


Rapat Umum Pemegang Saham (RUPS) dijadikan sebagai forum                      The General Meeting of Shareholders (GMS) functions as a forum
oleh Perseroan untuk berkomunikasi dan berkonsultasi dengan                   by the Company to communicate and consult with Shareholders.
Pemegang Saham. Melalui penyelenggaraan RUPS, Pemegang                        By convening the GMS, Shareholders can express their opinions
Saham dapat menyampaikan pendapatnya terkait beberapa                         on several matters relating to the Company, such as amendments
hal yang berkaitan dengan Perseroan, seperti perubahan dan                    and ratification of the Articles of Association, appointment of a
pengesahan Anggaran Dasar, pengangkatan Dewan Komisaris                       new member of the Board of Commissioners or Board of Directors,
atau Direksi baru, seta pembagian dividen.                                    and dividend distribution.



Pelaksanaan RUPS Tahun 2024                                                   GMS Implementation in 2024

Pada tahun 2024, Perseroan telah melaksanakan RUPS Tahunan                    In 2024, the Company held its Annual GMS on Thursday,
pada Kamis, 16 Mei 2024 di Sinar Mas Land Plaza, Tower 2, Lt. 39,             May 16th, 2024, at Sinar Mas Land Plaza, Tower 2, 39th Floor,
Ruang Danamas, Jl. MH Thamrin No. 51, Jakarta Pusat 10350.                    Danamas Room, Jl. MH Thamrin No. 51, Jakarta Pusat 10350.

Tahapan Pelaksanaan
Stages of Implementation

         Pemberitahuan                                  Pengumuman                                                 Panggilan
          Notification                                  Announcement                                                Notice

 27 Maret 2024 dan 24 April 2024 /     5 April 2024 / April 5th, 2024                         24 April 2024 / April 24th, 2024
 March 27th, 2024 and April 24th,      Pada situs web Perseroan, penyedia E-RUPS (KSEI),      Pada situs web Perseroan, penyedia E-RUPS (KSEI),
 2024                                  dan Bursa Efek Indonesia.                              dan Bursa Efek Indonesia.
 Pada Otoritas Jasa Keuangan.          On Company’s website, E-GMS provider (KSEI),           On Company’s website, E-GMS provider (KSEI),
 To Financial Services Authority.      and Indonesia Stock Exchange.                          and Indonesia Stock Exchange.

                                                                  Hasil RUPS
                                                                GMS Resolutions

 Pada situs web Perseroan, penyedia E-RUPS (KSEI), dan Bursa Efek Indonesia. Risalah rapat tertuang dalam surat keterangan yang dibuat oleh Notaris
 Hannywati Gunawan, SH, tertanggal 16 Mei 2024. Hasil RUPS tercantum dalam Akta Berita Acara RUPS Tahunan No. 128 tanggal 16 Mei 2024 dan
 disampaikan kepada Otoritas Jasa Keuangan tanggal 7 Juni 2024.
 On Company’s website, E-GMS provider (KSEI), and Indonesia Stock Exchange. Minutes of meeting are stated in a statement made by Notary Hannywati
 Gunawan, SH, dated May 16th, 2024. The GMS resolutions are stated in the Deed of Minutes of Annual GMS No. 128 on May 16th, 2024, and were submitted
 to the Financial Services Authority on June 7th, 2024.


Mata Acara
Agenda Item
 1. Persetujuan atas Laporan Tahunan dan Pengesahan atas Laporan Keuangan Konsolidasian Perseroan untuk tahun buku yang berakhir pada tanggal
    31 Desember 2023, sekaligus pemberian pelunasan dan pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada Direksi dan Dewan
    Komisaris Perseroan atas pengurusan dan pengawasan yang telah dijalankan selama tahun buku 2023, selama tugas pengurusan dan pengawasannya
    tercermin dalam Laporan Tahunan dan Laporan Keuangan Konsolidasian Perseroan tersebut;
 2. Penetapan penggunaan laba bersih Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2023;
 3. Penetapan gaji atau honorarium dan tunjangan lainnya untuk anggota Direksi dan Dewan Komisaris untuk tahun buku 2024;
 4. Penunjukan akuntan publik independen dan/atau kantor akuntan publik independen untuk melakukan audit Laporan Keuangan Tahunan Konsolidasian
    Perseroan tahun buku 2024;
 5. Perubahan Anggaran Dasar Perseroan; dan
 6. Perubahan susunan Direksi dan/atau Dewan Komisaris Perseroan.
 1. Approve the Annual Report and Ratify the Company’s Consolidated Financial Statements for the financial year ended December 31st, 2023, as well
    as grant full release and discharge (acquit et de charge) to the Company’s Board of Directors and Board of Commissioners for the management and
    supervision performed during the 2023 financial year, provided that the management and supervision duties are reflected in the Company’s Annual
    Report and Consolidated Financial Statements;
 2. Appropriate the use of the Company’s net profit for the financial year ended December 31st, 2023;
 3. Determine salary or honorarium and other allowances for members of the Board of Directors and Board of Commissioners for the 2024 financial year;
 4. Appoint an independent public accountant and/or independent public accounting firm to conduct an audit of the Company’s Consolidated Annual
    Financial Statements for the 2024 financial year;
 5. Amend the Company’s Articles of Association; and
 6. Change the composition of the Company’s Board of Directors and/or Board of Commissioners.




 78        PT Golden Energy Mines Tbk
Page 81
                                                                                                                                       Corporate Governance




Kehadiran
Attendance
1. Anggota Dewan Komisaris dan Direksi Perseroan sebagai berikut.

  Dewan Komisaris                                                               Direksi
  Presiden Komisaris                : Lokita Prasetya;                          Presiden Direktur            : Bonifasius;
  Wakil Presiden Komisaris          : Adrian Erlangga;                          Wakil Presiden Direktur      : Feriwan Sinatra;
  Komisaris                         : Alex Sutanto;                             Direktur                     : Raden Utoro;
  Komisaris                         : Haris Mustarto;                           Direktur                     : Yoghi Nuswantoro;
  Komisaris Independen              : Dr. Ir. Bambang Setiawan; dan             Direktur                     : Suhendra; dan
  Komisaris Independen              : Ketut Sanjaya.                            Direktur                     : Paulus Yuniardi.
2. RUPS dipimpin oleh Bapak Lokita Prasetya selaku Presiden Komisaris Perseroan.
3. Pemegang Saham 5.314.327.026 saham atau mewakili 90,34% dari saham yang dikeluarkan oleh Perseroan.
4. Perwakilan dari Kantor Akuntan Publik Mirawati Sensi Idris yang memberikan jasa audit untuk Laporan Keuangan Tahunan Perseroan tahun buku
   31 Desember 2023.
5. Notaris Hannywati Gunawan, SH, yang membuat risalah rapat. Notaris dan perwakilan Biro Administrasi Efek, yakni PT Sinartama Gunita selaku pihak
   independen yang membantu Perseroan dalam melakukan perhitungan dan memvalidasi perhitungan suara.
1. Members of Board of Commissioners and Board of Directors of the Company as follows.

  Board of Commissioners                                                        Board of Directors
  President Commissioner            : Lokita Prasetya;                          President Director           : Bonifasius;
  Vice President Commissioners      : Adrian Erlangga;                          Vice President Director      : Feriwan Sinatra;
  Commissioner                      : Alex Sutanto;                             Director                     : Raden Utoro;
  Commissioner                      : Haris Mustarto;                           Director                     : Yoghi Nuswantoro;
  Independent Commissioner          : Dr. Ir. Bambang Setiawan; and             Director                     : Suhendra; and
  Independent Commissioner          : Ketut Sanjaya.                            Director                     : Paulus Yuniardi.
2. The GMS was chaired by Mr. Lokita Prasetya as the Company’s President Commissioner.
3. Shareholders of 5,314,327,026 shares or representing 90.34% of the total shares issued by the Company.
4. Representatives from Mirawati Sensi Idris Public Accounting Firm, who provided audit services for the Company’s Annual Financial Statements for the
   financial year ended December 31st, 2023.
5. Notary Hannywati Gunawan, SH, who prepared the minutes of meeting. The Notary and the representative from Share Register Berau, namely
   PT Sinartama Gunita, were the independent parties assisting the Company in calculating and validating the votes.




Hasil Keputusan RUPS Tahunan
Annual GMS Resolutions

                                                           Mata Acara / Agenda Item 1

Keputusan / Resolutions
Menyetujui dan menerima dengan baik Laporan Tahunan untuk tahun buku yang berakhir pada tanggal 31 Desember 2023 serta Laporan Keuangan
Konsolidasian Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2023 yang telah diaudit oleh Kantor Akuntan Publik Independen
Mirawati Sensi Idris tertanggal 28 Maret 2024 dengan pendapat wajar tanpa pengecualian, selama tugas pengurusan dan pengawasannya tercermin
dalam Laporan Tahunan dan Laporan Keuangan Konsolidasian Perseroan tersebut.

Dengan disetujuinya Laporan Tahunan dan Laporan Keuangan Konsolidasian maka sesuai dengan ketentuan Pasal 9 ayat 4 Anggaran Dasar Perseroan,
seluruh anggota Direksi dan Dewan Komisaris Perseroan dibebaskan sepenuhnya atas semua tindakan dan penggunaan wewenang maupun tindakan
pengawasan mereka masing-masing dalam tahun buku 2023 yang berkenaan dengan Laporan Keuangan Konsolidasian yang telah disetujui di atas (acquit
et de charge).
Approve and well-accept the Annual Report for the financial year ended December 31st, 2023, and the Company’s Consolidated Financial Statements
for the financial year ended December 31st, 2023, which have been audited by Mirawati Sensi Idris, an Independent Public Accounting Firm, dated
March 28th, 2024, with an unqualified opinion, provided that the management and supervision duties are reflected in the Company’s Annual Report and
Consolidated Financial Statements.

With the approval of the Annual Report and Consolidated Financial Statements, in accordance with the provisions of Article 9 paragraph 4 of the
Company’s Articles of Association, all members of the Company’s Board of Directors and Board of Commissioners are granted full release and discharge
from all actions and use of authority, as well as their respective supervisory actions in the 2023 financial year with respect to the Consolidated Financial
Statements agreed upon above (acquit et de charge).

Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
Tidak ada Pemegang Saham yang mengajukan pertanyaan. / No Shareholder raised questions.

Hasil Pemungutan Suara / Voting Results
Setuju / Agree           : 5.314.019.579 saham (99,99% yang hadir) / 5,314,019,579 shares (99.99% present)
Tidak Setuju / Disagree  : Tidak ada / None
Abstain / Abstain        : 4 Pemegang Saham (mewakili 307.447 saham) / 4 Shareholders (representing 307,447 shares)

Realisasi / Realization
Telah direalisasikan sepenuhnya. / Has been fully realized.




                                                                                                               Laporan Tahunan 2024 Annual Report      79
Page 82
Tata Kelola Perusahaan




                                                           Mata Acara / Agenda Item 2

 Keputusan / Resolutions
 Menerima dengan baik dan menyetujui penetapan penggunaan laba bersih untuk tahun buku yang berakhir pada tanggal 31 Desember 2023, dengan
 perincian sebagai berikut.
 1. Dari jumlah laba bersih tersebut disetujui sebesar USD1.000.000 ditetapkan sebagai cadangan wajib guna memenuhi ketentuan Pasal 70
    Undang-Undang Perseroan Terbatas No. 40 Tahun 2007 yang akan digunakan sesuai dengan Pasal 20 Anggaran Dasar Perseroan.
 2. Sebesar USD500.000.000 ditetapkan sebagai dividen final tahun buku 2023 di mana jumlah dividen final tersebut yakni masing-masing sebesar
    USD325.000.000 dan USD90.000.000 telah dibagikan sebagai dividen interim 1 dan 2 serta telah dibayarkan kepada seluruh Pemegang Saham masing-
    masing per tanggal 12 September 2023 dan 22 Desember 2023. Sehingga sisanya adalah sebesar USD85.000.000 disetujui dibagikan sebagai dividen
    final tahun buku 2023 atau sebesar USD0,01445 per saham. Dividen final ini akan dibagikan kepada para Pemegang Saham sesuai dengan persentase
    kepemilikan saham dengan memberikan wewenang kepada Direksi Perseroan untuk menentukan tata cara dan waktu pembagian dividen final tersebut.
 3. Sisa laba bersih setelah dikurangi dengan dana cadangan sebagaimana ditetapkan dalam angka 1 di atas dan sisa dividen final sebagaimana ditetapkan
    dalam angka 2 di atas, yakni sebesar USD17.380.664 dibukukan sebagai saldo laba ditahan.
 Accept and approve the appropriation of net profits for the financial year ended December 31st, 2023, with the following details.
 1. From the total amount of net profits, an amount of USD1,000,000 is appropriated as the mandatory reserve pursuant to Article 70 of Law No. 40 of
    2007 on Limited Liability Company, which will be used in accordance with Article 20 of the Company’s Articles of Association.
 2. An amount of USD500,000,000 is appropriated as the final dividend for the 2023 financial year, of which the following amount of USD325,000,000 and
    USD90,000,000 had been distributed as interim dividend 1 and 2, and paid to all Shareholders on September 12th, 2023, and December 22nd, 2023. Thus,
    the remaining amount of USD85,000,000 is approved to be distributed as the final dividend of the 2023 financial year or USD0.01445 per share. The
    final dividend will be distributed to Shareholders in accordance with the share ownership percentage by granting authority to the Company’s Board of
    Directors to determine the procedure and time to distribute the final dividend.
 3. The remaining net profits less the reserve fund as set out in point 1 above and the remaining final dividend as set out in point 2 above, amounting to
    USD17,380,664, will be recorded as retained earnings.

 Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
 1 Pemegang Saham (mewakili 10.200 saham). / 1 Shareholder (representing 10,200 shares).

 Hasil Pemungutan Suara / Voting Results
 Setuju / Agree           : 5.314.324.026 saham (99,99% yang hadir) / 5,314,324,026 shares (99.99% present)
 Tidak Setuju / Disagree  : Tidak ada / None
 Abstain / Abstain        : 2 Pemegang Saham (mewakili 3.000 saham) / 2 Shareholders (representing 3,000 shares)

 Realisasi / Realization
 Telah direalisasikan sepenuhnya dan dividen telah dibayarkan kepada Pemegang Saham Perseroan pada tanggal 7 Juni 2024. / Has been fully realized and
 dividends were already paid to Shareholders of the Company on June 7th, 2024.

                                                           Mata Acara / Agenda Item 3

 Keputusan / Resolutions
 Memberikan wewenang kepada Direksi Perseroan untuk menetapkan besarnya gaji atau honorarium dan tunjangan lainnya untuk anggota Dewan
 Komisaris dan Direksi Perseroan untuk tahun buku yang akan berakhir pada tanggal 31 Desember 2024, dengan mempertimbangkan rekomendasi dari
 Dewan Komisaris Perseroan.
 Grant authority to the Company’s Board of Directors to determine the amount of salary or honorarium and other allowances for members of the Board
 of Commissioners and Board of Directors for the financial year ended December 31st, 2024, by considering recommendations from the Company’s Board
 of Commissioners.

 Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
 Tidak ada Pemegang Saham yang mengajukan pertanyaan. / No Shareholder raised questions.

 Hasil Pemungutan Suara / Voting Results
 Setuju / Agree           : 5.314.115.926 saham (99,99% yang hadir) / 5,314,115,926 shares (99.99% present)
 Tidak Setuju / Disagree  : 1 Pemegang Saham (mewakili 91.600 saham) / 1 Shareholder (representing 91,600 shares)
 Abstain / Abstain        : 3 Pemegang Saham (mewakili 119.500 saham) / 3 Shareholders (representing 119,500 shares)

 Realisasi / Realization
 Telah direalisasikan sepenuhnya. / Has been fully realized.

                                                           Mata Acara / Agenda Item 4

 Keputusan / Resolutions
 1. Menunjuk Ibu Maria Leckzinska, sebagai Akuntan Publik dari Kantor Akuntan Publik Mirawati Sensi Idris sebagai akuntan publik independen Perseroan
    untuk memberikan jasa audit atas Laporan Keuangan Tahunan Konsolidasian Perseroan untuk tahun buku 2024, dengan ketentuan apabila akuntan
    publik yang bersangkutan berhalangan maka dapat digantikan oleh akuntan publik lain yang merupakan mitra dari Kantor Akuntan Publik Mirawati
    Sensi Idris, yang terdaftar di Otoritas Jasa Keuangan dan memenuhi peraturan perundangan yang berlaku.
 2. Memberikan kuasa kepada Direksi Perseroan untuk menetapkan honorarium akuntan publik/kantor akuntan publik yang akan ditunjuk tersebut.
 1. Appoint Ms. Maria Leckzinska, as a Public Accountant from Mirawati Sensi Idris Public Accounting Firm as the Company’s independent public
    accountant to provide audit services for the Company’s Consolidated Annual Financial Statements for the 2024 financial year, with the provision that
    if the public accountant concerned is unable to attend, he/she can be replaced by another public accountant who is a partner of Mirawati Sensi Idris
    Public Accounting Firm, who is registered with the Financial Services Authority and complies with applicable laws and regulations.
 2. Grant power to the Company’s Board of Directors to determine the honorarium of the public accountant/public accounting firm to be appointed.

 Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
 Tidak ada Pemegang Saham yang mengajukan pertanyaan. / No Shareholders raised questions.

 Hasil Pemungutan Suara / Voting Results
 Setuju / Agree           : 5.314.232.926 saham (99,99% yang hadir) / 5,314,232,926 shares (99.99% present)
 Tidak Setuju / Disagree  : 1 Pemegang Saham (mewakili 91.600 saham) / 1 Shareholder (representing 91,600 shares)
 Abstain / Abstain        : 1 Pemegang Saham (mewakili 2.500 saham) / 1 Shareholder (representing 2,500 shares)




 80        PT Golden Energy Mines Tbk
Page 83
                                                                                                                                    Corporate Governance




Realisasi / Realization
Perseroan telah menunjuk Akuntan Publik Maria Leckzinska dari Kantor Akuntan Publik Mirawati Sensi Idris untuk mengaudit Laporan Keuangan
Perseroan tahun buku 2024 sesuai dengan Perjanjian Kerja antara Perseroan dengan akuntan publik dan/atau kantor akuntan publik tersebut pada
11 Juli 2024. Laporan Penunjukan Akuntan Publik dan Kantor Akuntan Publik tersebut telah dilaporkan ke Otoritas Jasa Keuangan pada 17 Juli 2024. /
The Company appointed a Public Accountant Maria Leckzinska from Mirawati Sensi Idris Public Accounting Firm to audit the Company Financial
Statements for the 2024 financial year, in accordance with the Work Agreement between the Company and the public accountant and/or public
accounting firm dated July 11th, 2024. The Report on Appointment of Public Accountant and Public Accounting Firm was already reported to the Financial
Services Authority on July 17th, 2024.

                                                          Mata Acara / Agenda Item 5

Keputusan / Resolutions
1. Menyetujui perubahan Anggaran Dasar Perseroan terkait Pasal 3 perihal Maksud dan Tujuan Perseroan sesuai dengan Klasifikasi Baku Lapangan Usaha
   Indonesia (KBLI) Tahun 2020;
2. Memberikan kuasa kepada Direksi Perseroan dan/atau Sekretaris Perusahaan Perseroan, baik bersama-sama maupun sendiri-sendiri, yaitu untuk
   melakukan perubahan dan penyesuaian Anggaran Dasar Perseroan termasuk tetapi tidak terbatas pada menghadap di mana perlu, memberikan
   keterangan dan laporan, menyatakan kembali Anggaran Dasar Perseroan secara menyeluruh, membuat atau suruh buatkan serta menandatangani
   semua surat atau akta yang diperlukan di hadapan pejabat yang berwenang dan memberitahukan perubahan anggaran dasar Perseroan kepada instansi
   yang berwenang, membuat perubahan dan/atau tambahan yang diperlukan agar laporan dapat diterima dan selanjutnya melakukan segala sesuatu
   yang dipandang perlu dan berguna untuk melaksanakan hal tersebut di atas, tanpa ada yang dikecualikan.
1. Approve the amendments to the Company’s Articles of Association related to Article 3 on the Company’s Purpose and Objectives in accordance with
   the 2020 Indonesian Standard Industrial Classification (KBLI);
2. Grant power to the Company’s Board of Directors and/or the Company’s Corporate Secretary, either jointly or individually, to make amendments and
   adjustments to the Company’s Articles of Association including but not limited to appearing where necessary, providing information and reports,
   restating the Company’s Articles of Association in their entirety, making or ordering to be made and signing all letters or deeds required before
   authorized officials and notifying the amendments to the Company’s articles of association to the authorized agency, making amendments and/or
   additions required so that the report can be accepted, and then conducting everything deemed necessary and useful to implement the above, without
   any exceptions.

Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
Tidak ada Pemegang Saham yang mengajukan pertanyaan. / No Shareholder raised questions.

Hasil Pemungutan Suara / Voting Results
Setuju / Agree           : 5.314.232.926 saham (99,99% yang hadir) / 5,314,232,926 shares (99.99% present)
Tidak Setuju / Disagree  : 1 Pemegang Saham (mewakili 91.600 saham) / 1 Shareholder (representing 91,600 shares)
Abstain / Abstain        : 2 Pemegang Saham (mewakili 3.000 saham) / 2 Shareholders (representing 3,000 shares)

Realisasi / Realization
Telah direalisasikan sepenuhnya. / Has been fully realized.

                                                          Mata Acara / Agenda Item 6

Keputusan / Resolutions
1. Menerima Pengunduran diri Bapak Adrian Erlangga selaku Wakil Presiden Komisaris Perseroan, Bapak Haris Mustarto selaku Komisaris Perseroan, dan
   Bapak Feriwan Sinatra selaku Wakil Presiden Direktur sejak ditutupnya Rapat ini.
2. Sekaligus menyetujui pengangkatan Bapak Achmad Ananda Djajanegara sebagai Wakil Presiden Komisaris Perseroan, Bapak Feriwan Sinatra
   sebagai Komisaris Perseroan, dan Bapak Haris Mustarto sebagai Wakil Presiden Direktur Perseroan untuk sisa masa jabatan yang masih berlaku dan
   pengangkatan mana terhitung sejak ditutupnya Rapat ini.
  Sehingga susunan Dewan Komisaris dan Direksi Perseroan terhitung sejak ditutupnya Rapat ini sampai dengan RUPS Tahunan di tahun 2026 sebagai
  berikut.

  Dewan Komisaris                                                             Direksi
  Presiden Komisaris                : Lokita Prasetya;                        Presiden Direktur           : Bonifasius;
  Wakil Presiden Komisaris          : Achmad Ananda Djajanegara;              Wakil Presiden Direktur     : Haris Mustarto;
  Komisaris                         : Alex Sutanto;                           Direktur                    : Raden Utoro;
  Komisaris                         : Feriwan Sinatra;                        Direktur                    : Yoghi Nuswantoro;
  Komisaris                         : Dr. Ir. Bambang Setiawan; dan           Direktur                    : Suhendra; dan
  Komisaris Independen              : Ketut Sanjaya.                          Direktur                    : Paulus Yuniardi.
3. Memberikan kuasa kepada Direksi Perseroan dan/atau Sekretaris Perusahaan Perseroan, baik bersama-sama maupun sendiri-sendiri, yaitu untuk
   menyatakan keputusan agenda Rapat ini dalam suatu akta notaris.
4. Untuk itu menghadap di mana perlu, memberikan keterangan dan laporan, membuat atau suruh buatkan serta menandatangani semua surat
   atau akta yang diperlukan dan memberitahukan perubahan susunan pengurus Perseroan kepada instansi yang berwenang, membuat perubahan
   dan/atau tambahan yang diperlukan agar laporan dapat diterima dan selanjutnya melakukan segala sesuatu yang dipandang perlu dan berguna untuk
   melaksanakan hal tersebut di atas, tanpa ada yang dikecualikan.
1. Accept the resignation of Mr. Adrian Erlangga as the Company’s Vice President Commissioner, Mr. Haris Mustarto as the Company’s Commissioner, and
   Mr. Feriwan Sinatra as the Vice President Director as of the closing of this Meeting.
2. Simultaneously approve the appointment of Mr. Achmad Ananda Djajanegara as the Company’s Vice President Commissioner, Mr. Feriwan Sinatra as
   the Company’s Commissioner, and Mr. Haris Mustarto as the Company’s Vice President Director for the remaining term of office which is still valid and
   which appointment is effective as of the closing of this Meeting.
  Thus, the composition of the Company’s Board of Commissioners and Board of Directors as of the closing of this Meeting until the Annual GMS in 2026
  is as follows.

  Board of Commissioners                                                      Board of Directors
  President Commissioner            : Lokita Prasetya;                        President Director          : Bonifasius;
  Vice President Commissioner       : Achmad Ananda Djajanegara;              Vice President Director     : Haris Mustarto;
  Commissioner                      : Alex Sutanto;                           Director                    : Raden Utoro;
  Commissioner                      : Feriwan Sinatra;                        Director                    : Yoghi Nuswantoro;
  Commissioner                      : Dr. Ir. Bambang Setiawan; and           Director                    : Suhendra; and
  Independent Commissioner          : Ketut Sanjaya.                          Director                    : Paulus Yuniardi.



                                                                                                            Laporan Tahunan 2024 Annual Report     81
Page 84
Tata Kelola Perusahaan




 3. Grant power to the Company's Board of Directors and/or the Company's Corporate Secretary, either jointly or individually, to state the resolutions of
    this Meeting agenda in a notarial deed.
 4. Therefore, appear where necessary, provide information and reports, make or order to make and sign all letters or deeds required and notify changes in
    the composition of the Company's management to the authorized agency, make changes and/or additions required so that the report can be accepted,
    and then, conduct everything deemed necessary and useful to implement the above, without any exceptions.

 Pemegang Saham dan/atau Kuasanya yang Mengajukan Pertanyaan / Shareholders and/or their Proxies Asking Questions
 Tidak ada Pemegang Saham yang mengajukan pertanyaan. / No Shareholder raised questions.

 Hasil Pemungutan Suara / Voting Results
 Setuju / Agree           : 5.311.971.653 saham (99,99% yang hadir) / 5,311,971,653 shares (99.99% present)
 Tidak Setuju / Disagree  : 18 Pemegang Saham (mewakili 2.235.873 saham) / 18 Shareholders (representing 2,235,873 shares)
 Abstain / Abstain        : 3 Pemegang Saham (mewakili 119.500 saham) / 3 Shareholders (representing 119,500 shares)

 Realisasi / Realization
 Telah direalisasikan sepenuhnya. / Has been fully realized.



Pelaksanaan RUPS Tahun 2023                                                      GMS Implementation in 2023

Sepanjang tahun 2023, Perseroan telah menyelenggarakan RUPS                      Throughout 2023, the Company held the Annual GMS on
Tahunan pada 22 Juni 2023 dan RUPS Luar Biasa pada RUPS                          June 22nd, 2023, and Extraordinary GMS on October 4th, 2023.
Luar Biasa 4 Oktober 2023. RUPS tersebut telah memenuhi                          The GMS has fulfilled the attendance quorum and adopted valid
kuorum kehadiran serta mengambil keputusan yang sah.                             resolutions. All of the GMS resolutions have also been fully
Seluruh keputusan dari RUPS tersebut juga telah dilaksanakan                     implemented by the Company.
sepenuhnya oleh Perseroan.




Dewan Komisaris
Board of Commissioners

Dewan Komisaris berperan penting dalam memastikan bahwa                          The Board of Commissioners plays an important role in ensuring
Perseroan dikelola dengan baik dan bertanggung jawab. Peran                      that the Company is managed properly and responsibly.
tersebut diwujudkan melalui pengawasan yang efektif, serta                       This role is realized through effective supervision and protection
perlindungan terhadap kepentingan pemangku kepentingan.                          of stakeholder interests.



Pedoman Kerja                                                                    Board Charter

Piagam Dewan Komisaris telah disahkan pada 8 Desember 2015                       The Board of Commissioners Charter was ratified on December 8th,
sebagai acuan bagi Dewan Komisaris Perseroan dalam                               2015, as a reference for the Company’s Board of Commissioners
menjalankan tugas dan tanggung jawabnya. Piagam tersebut                         in carrying out its duties and responsibilities. The charter has also
juga telah dipublikasikan di situs web pada laman Tata                           been published on the website, on Corporate Governance page.
Kelola Perusahaan.



Komposisi                                                                        Composition

Pada tahun 2024, terjadi perubahan dalam susunan anggota                         In 2024, there was a change in the Company’s Board of
Dewan Komisaris Perseroan seiring dengan pengunduran diri                        Commissioners’ composition due to the resignation of
Bapak Adrian Erlangga dari jabatannya sebagai Wakil Presiden                     Mr. Adrian Erlangga from his position as Vice President
Komisaris dan Bapak Haris Mustarto dari jabatannya sebagai                       Commissioner and Mr. Haris Mustarto from his position as
Komisaris. Surat pengunduran diri kedua anggota Dewan                            Commissioner. The resignation letters of the two members of
Komisaris tersebut pada tanggal 29 April 2024 dan disahkan                       the Board of Commissioners on April 29th, 2024 and validated
melalui Keputusan RUPS Tahunan tanggal 16 Mei 2024.                              through the Annual GMS Resolution dated May 16th, 2024. Based
Berdasarkan keputusan RUPS Tahunan tersebut, Perseroan juga                      on the Annual GMS Resolution, the Company also appointed
mengangkat Bapak Achmad Ananda Djajanegara sebagai Wakil                         Mr. Achmad Ananda Djajanegara as Vice President Commissioner
Presiden Komisaris dan Bapak Feriwan Sinatra sebagai Komisaris,                  and Mr. Feriwan Sinatra as Commissioner, who previously served
yang sebelumnya menjabat sebagai Direktur.                                       as Director.




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                                                                                                                             Corporate Governance




         Jabatan                   Periode 1 Januari 2024-16 Mei 2024                 Periode 16 Mei 2024-31 Desember 2024
         Position               Period of January 1st, 2024-May 16th, 2024          Period of May 16th, 2024-December 31st, 2024

 Presiden Komisaris
                                Lokita Prasetya                                    Lokita Prasetya
 President Commissioner

 Wakil Presiden Komisaris
                                Adrian Erlangga                                    Achmad Ananda Djajanegara
 Vice President Commissioner

 Komisaris
                                Alex Sutanto                                       Alex Sutanto
 Commissioner

 Komisaris
                                Haris Mustarto                                     Feriwan Sinatra
 Commissioner

 Komisaris Independen
                                Dr. Ir. Bambang Setiawan                           Dr. Ir. Bambang Setiawan
 Independent Commissioner

 Komisaris Independen
                                Ketut Sanjaya                                      Ketut Sanjaya
 Independent Commissioner


Dengan demikian, susunan anggota Dewan Komisaris Perseroan              Thus, the Board of Commissioners’ composition as of
per 31 Desember 2024 diungkapkan sebagai berikut.                       December 31st, 2024 is disclosed as follows.


                                                    Masa Awal     Masa Akhir
      Nama                     Jabatan               Jabatan        Jabatan        Dasar Pengangkatan/Pengangkatan Kembali
      Name                     Position            Initial Term    End Term            Appointment Basis/Reappointment
                                                     of Office     of Office

                     Presiden Komisaris                                        Keputusan RUPS Tahunan 6 Mei 2021.
 Lokita Prasetya                                       2021          2026
                     President Commissioner                                    Resolution of the Company’s AGMS dated May 6th, 2021.

 Achmad Ananda       Wakil Presiden Komisaris                                  Keputusan RUPS Tahunan 16 Mei 2024.
                                                       2024          2026
 Djajanegara         Vice President Commissioner                               Resolution of the Company’s AGMS dated May 16th, 2024.

                     Komisaris                                                 Keputusan RUPS Luar Biasa 29 Juli 2022.
 Alex Sutanto                                          2022          2026
                     Commissioner                                              Resolution of the Company’s EGMS dated July 29th, 2022.

                     Komisaris                                                 Keputusan RUPS Tahunan 16 Mei 2024.
 Feriwan Sinatra                                       2024          2026
                     Commissioner                                              Resolution of the Company’s AGMS dated May 16th, 2024.

                                                                               • Keputusan RUPS Luar Biasa 12 Januari 2012;
                                                                               • Keputusan RUPS Tahunan 10 Juni 2016; dan
                                                                               • Keputusan RUPS Tahunan 6 Mei 2021.
 Dr. Ir. Bambang     Komisaris Independen
                                                       2012          2026      • Resolution of the Company’s EGMS dated January 12th, 2012;
 Setiawan            Independent Commissioner
                                                                               • Resolution of the Company’s AGMS dated June 10th, 2016;
                                                                                 and
                                                                               • Resolution of the Company’s AGMS dated May 6th, 2021.

                                                                               • Keputusan RUPS Luar Biasa 12 Januari 2012;
                                                                               • Keputusan RUPS Tahunan 10 Juni 2016; dan
                                                                               • Keputusan RUPS Tahunan 6 Mei 2021.
                     Komisaris Independen
 Ketut Sanjaya                                         2012          2026      • Resolution of the Company’s EGMS dated January 12th, 2012;
                     Independent Commissioner
                                                                               • Resolution of the Company’s AGMS dated June 10th, 2016;
                                                                                 and
                                                                               • Resolution of the Company’s AGMS dated May 6th, 2021.




Komisaris Independen                                                    Independent Commissioner

Per 31 Desember 2024, terdapat 2 Komisaris Independen yang              As of December 31st, 2024, there are 2 Independent
mewakili 33,33% dari total anggota Dewan Komisaris Perseroan.           Commissioners, representing 33.33% of the total members of
Jumlah tersebut telah sesuai dengan piagam kerja dan ketentuan          the Company’s Board of Commissioners. This number is
yang berlaku. Komisaris Independen yang ditunjuk telah                  in accordance with the charter and applicable provisions.
memenuhi kriteria pengangkatan dan telah menandatangani                 The appointed Independent Commissioners have met the
Surat Pernyataan Independensi.                                          appointment criteria and have signed the Statement of
                                                                        Independence.




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                                              Aspek Independensi                                            Dr. Ir. Bambang
                                                                                                                                    Ketut Sanjaya
                                             Independency Aspect                                               Setiawan

 Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung jawab merencanakan,
 memimpin, mengendalikan, atau mengawasi kegiatan Perseroan dalam waktu 6 bulan terakhir, kecuali
 untuk pengangkatan kembali sebagai Komisaris Independen pada periode berikutnya.
 Not a person who works or has authority and responsibility to plan, lead, control, or supervise the
 Company’s activities in the last 6 months, except for reappointment as Independent Commissioner for
 the following term of office.

 Tidak mempunyai saham, baik langsung maupun tidak langsung di Perseroan.
 Has no shares, both directly and indirectly, in the Company.

 Tidak mempunyai hubungan afiliasi dengan Perseroan, anggota Dewan Komisaris, anggota Direksi, atau
 Pemegang Saham Utama Perseroan.
 Has no affiliate relationship with the Company, members of the Board of Commissioners, members of
 the Board of Directors, or the Company’s majority Shareholders.

 Tidak mempunyai hubungan usaha, baik langsung maupun tidak langsung, yang berkaitan dengan
 kegiatan Perseroan.
 Has no business relations, neither directly nor indirectly, related to the Company’s activities.

 = Terpenuhi / Fulfilled |   = Tidak Terpenuhi / Not Fulfilled




Kebijakan Keberagaman Komposisi                                                   Policy of Composition Diversity

Perseroan menetapkan kebijakan keberagaman dalam komposisi                        The Company has established a diversity policy on the Board
Dewan Komisaris untuk meningkatkan efektivitas pengawasan                         of Commissioners’ composition to improve the effectiveness of
dan pemberian nasihat. Kebijakan ini diimplementasikan dengan                     supervision and advice. This policy is implemented by considering
memperhatikan beragam aspek, di antaranya pendidikan,                             various aspects, including education, work experience, age, and
pengalaman kerja, usia, dan jenis kelamin. Uraian lebih lanjut                    gender. Further description of this policy can be seen in the
terkait kebijakan ini dapat dilihat dalam tabel berikut.                          following table.


  Aspek Keberagaman                                               Penjelasan
  Aspects of Diversity                                             Remarks
                                                                                                           Komposisi Dewan Komisaris telah memenuhi
 Pendidikan                           Latar belakang pendidikan mulai dari S1-S3, dengan kompetensi di     unsur keberagaman, yaitu perpaduan dari
                                      bidang Teknik Mesin, Manajemen, Administrasi Bisnis, Akuntansi,      sisi pendidikan, pengalaman kerja, dan usia.
                                      Keuangan, dan Teknik Pertambangan.                                   Informasi terkait keberagaman komposisi
 Education                            Educational background ranging from Bachelor’s degree to Doctorate   Dewan Komisaris telah diungkapkan pada
                                      degree, with competencies in the fields of Mechanical Engineering,   bagian Profil Dewan Komisaris bab Profil
                                      Management, Business Administration, Accounting, Finance, and        Perusahaan dalam Laporan Tahunan ini.
                                      Mining Engineering.                                                  The composition of the Board of
                                                                                                           Commissioners has fulfilled the elements
 Pengalaman Kerja                     Profesional bidang Manajemen, Pertambangan, Energi, dan Perbankan.   of diversity, which include the combination
 Work Experience                      Professional in Management, Mining, Energy, and Banking.             of education, work experience, and age.
                                                                                                           Information on the diversity of the Board
 Usia                                 Rata-rata usia, yaitu 39-74 tahun.
                                                                                                           of Commissioners’ composition has been
 Age                                  Average age is 39-74 years.
                                                                                                           disclosed in the Board of Commissioners’
 Jenis Kelamin                        Perseroan belum memiliki anggota Dewan Komisaris yang berjenis       Profile section of the Company Profile
                                      kelamin wanita.                                                      Chapter in this Annual Report.
 Gender                               The Company has not the Board of Commissioners who have
                                      female gender.




Independensi dan Hubungan Afiliasi                                                Independency and Affiliate Relationship

Independensi bagi anggota Dewan Komisaris Perseroan adalah                        Independence of the Board of Commissioners’ members is
aspek krusial yang harus dipenuhi untuk memastikan efektivitas                    a crucial aspect that must be met to ensure effectiveness in
dalam pelaksanaan tugas dan tanggung jawab. Dalam RUPS                            carrying out duties and responsibilities. In the Company’s Annual
Tahunan Perseroan pada 6 Mei 2021, Bapak Dr. Ir. Bambang                          GMS dated May 6th, 2021, Mr. Dr. Ir. Bambang Setiawan and
Setiawan dan Bapak Ketut Sanjaya menegaskan independensi                          Mr. Ketut Sanjaya confirmed their independence in connection
mereka sehubungan dengan pengangkatan kembali sebagai                             with their reappointment as Independent Commissioners of the
Komisaris Independen Perseroan untuk periode ketiga.                              Company for the third term.




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                                                                                                                                   Corporate Governance




Informasi mengenai hubungan afiliasi antara Dewan Komisaris,                    Information on affiliation relationship between the Board
Direksi, dan Pemegang Saham Utama/Pengendali Perseroan                          of Commissioners, Board of Directors, and the Company’s
diungkapkan dalam bagian Profil Dewan Komisaris bab Profil                      Major/Controlling Shareholders is disclosed in the Board of
Perusahaan dalam Laporan Tahunan ini.                                           Commissioners’ Profile section of the Company Profile chapter
                                                                                in this Annual Report.



Rangkap Jabatan                                                                 Concurrent Position

Rangkap jabatan Dewan Komisaris Perseroan per 31 Desember                       The concurrent positions of the Company’s Board of
2024 tetap sesuai dengan ketentuan Anggaran Dasar dan                           Commissioners as of December 31st, 2024, remain in accordance
peraturan perundangan yang berlaku.                                             with the provisions of the Articles of Association and applicable
                                                                                laws and regulations.


     Nama                    Jabatan                Jabatan pada Perusahaan Lain/Instansi Lain                Nama Perusahaan/Instansi Lain
     Name                    Position                 Position in Other Company/Institution                   Name of Company/Institution

                    Presiden Komisaris              Wakil Presiden Direktur
 Lokita Prasetya                                                                                              PT Dian Swastatika Sentosa Tbk
                    President Commissioner          Vice President Director

 Achmad Ananda      Wakil Presiden Komisaris        Direktur Utama
                                                                                                              PT ABM Investama Tbk
 Djajanegara        Vice President Commissioner     President Director

                    Komisaris                       Direktur
 Alex Sutanto                                                                                                 PT Dian Swastatika Sentosa Tbk
                    Commissioner                    Director

                    Komisaris                       Direktur
 Feriwan Sinatra                                                                                              PT ABM Investama Tbk
                    Commissioner                    Director

                                                    •   Komisaris Independen
 Dr. Ir. Bambang    Komisaris Independen            •   Ketua Komite Audit
                                                                                                              PT Archi Indonesia Tbk
 Setiawan           Independent Commissioner        •   Independent Commissioner
                                                    •   Chairman of Audit Committee

                                                    Anggota Komite Audit                                      PT Sinar Mas Agro Resources
                                                    Member of Audit Committee                                 and Technology Tbk

                                                    •   Komisaris Independen
                                                    •   Ketua Komite Audit
                    Komisaris Independen            •   Ketua Komite Nominasi dan Remunerasi
 Ketut Sanjaya                                                                                                PT Smartfren Telecom Tbk
                    Independent Commissioner        •   Independent Commissioner
                                                    •   Chairman of Audit Committee
                                                    •   Chairman of Nomination and Remuneration Committee

                                                    Komisaris Independen
                                                                                                              PT Sinar Mas Multiartha Tbk
                                                    Independent Commissioner




Tugas dan Tanggung Jawab Dewan Komisaris
Duties and Responsibilities of Board of Commissioners

              Tugas dan Tanggung Jawab                                                  Realisasi Program Kerja 2024
              Duties and Responsibilities                                              2024 Work Program Realization

 Mengarahkan, memantau, dan mengevaluasi pelaksanaan              Mengarahkan, memantau, dan mengevaluasi pelaksanaan atas kebijakan pengelolaan
 kebijakan strategis Perseroan, melakukan pengawasan              yang dilakukan Direksi yang dibuktikan melalui Laporan Tugas Pengawasan yang
 terhadap pelaksanaan tugas dan tanggung jawab Direksi, serta     disampaikan pada saat RUPS. Selain itu, pemberian nasihat senantiasa diberikan
 memberikan nasihat kepada Direksi.                               kepada Direksi pada saat penyelenggaraan rapat gabungan.
 To direct, monitor, and evaluate the implementation of the       Directed, monitored, and evaluated the implementation of management policies
 Company’s strategic policies, carry out supervision towards      carried out by the Board of Directors, which was proven through the Supervisory
 the implementation of duties and responsibilities of the Board   Duty Report delivered at the time of GMS. In addition to that, advice was always
 of Directors, and provide advice to the Board of Directors.      provided to the Board of Directors at the joint meetings.

 Mengawasi terselenggaranya pelaksanaan GCG dalam setiap          Mengawasi pelaksanaan GCG dalam seluruh kegiatan usaha melalui pembahasan
 kegiatan usaha Perseroan pada seluruh tingkatan atau jenjang     dalam rapat gabungan.
 organisasi.
 To supervise the implementation of GCG in every business         Supervised the GCG implementation in all business activities through discussions in
 activity of the Company at every level or rank of the            joint meetings.
 organization.




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              Tugas dan Tanggung Jawab                                                      Realisasi Program Kerja 2024
              Duties and Responsibilities                                                  2024 Work Program Realization

 Memastikan bahwa Direksi telah menindaklanjuti temuan dan            Memantau tindak lanjut hasil temuan dan rekomendasi Komite Audit, auditor
 rekomendasi audit dari Komite Audit, auditor internal, auditor       internal, auditor eksternal, dan/atau hasil pengawasan otoritas di bidang pasar
 eksternal, dan/atau hasil pengawasan otoritas di bidang pasar        modal melalui laporan yang disusun oleh Direksi dan organ pendukungnya.
 modal.
 To ensure that the Board of Directors has followed-up the audit      Monitored the follow-up of the audit findings and recommendations from the Audit
 findings and recommendations from the Audit Committee,               Committee, internal auditor, external auditor, and/or the supervision results of the
 internal auditor, external auditor, and/or the supervision results   authorities in capital market through the reports prepared by the Board of Directors
 of the authorities in capital market.                                and its supporting organs.

 Membentuk paling kurang Komite Audit, sedangkan untuk                Dewan Komisaris telah membentuk Komite Audit. Melalui rekomendasi dari
 Komite Nominasi dan Remunerasi, apabila tidak dibentuk,              Komite Audit, Dewan Komisaris telah menunjuk akuntan publik yang akan mengaudit
 maka Dewan Komisaris wajib melaksanakan fungsi nominasi              Laporan Keuangan Konsolidasian Perseroan tahun 2024. Dewan Komisaris juga
 dan remunerasi.                                                      telah melaksanakan fungsi nominasi dan remunerasi selama tahun 2024 melalui
                                                                      pembahasan dalam rapat Dewan Komisaris pada tanggal 7 Mei 2024 dan 27 Mei 2024.
 To establish at least an Audit Committee, while for Nomination       The Board of Commissioners has established an Audit Committee. Through the
 and Remuneration Committee, if it is not established, then           recommendation of the Audit Committee, the Board of Commissioners has appointed a
 the Board of Commissioners must carry out the function of            public accountant who will audit the Company’s Consolidated Financial Statements of
 nomination and remuneration.                                         2024. The Board of Commissioners also performed the nomination and remuneration
                                                                      functions in 2024 through discussions at the Board of Commissioners’ meetings on
                                                                      May 7th, 2024 and May 27th, 2024.

 Memastikan bahwa komite-komite yang telah dibentuk oleh              Melakukan penilaian terhadap kinerja Komite Audit. Informasi tersebut diungkapkan
 Dewan Komisaris menjalankan tugasnya secara efektif.                 pada uraian Penilaian Kinerja Organ Pendukung Dewan Komisaris dalam Laporan
                                                                      Tahunan ini.
 To ensure that the committees established by the Board of            Performed evaluation to the performance of the Audit Committee. Information on
 Commissioners are carrying out their duties effectively.             that matter has been disclosed in the description of Performance Assessment of the
                                                                      Board of Commissioners’ Supporting Organs in this Annual Report.

 Secara bersama-sama maupun sendiri-sendiri, Dewan Komisaris          Seluruh dokumen yang berkaitan dengan pengelolaan Perseroan telah diperiksa oleh
 berhak memeriksa semua pembukuan dan mencocokkan                     Dewan Komisaris.
 keadaan uang kas dan lain-lain, serta berhak untuk mengetahui
 segala tindakan yang telah dijalankan Direksi.
 Jointly or individually, the Board of Commissioners has the          All documents related to the Company’s management have been reviewed by the
 right to check all the books and reconcile the cash condition        Board of Commissioners.
 and other matters, and is entitled to know all actions
 conducted by the Board of Directors.

 Mengusulkan penggantian dan/atau pengangkatan anggota                Dewan Komisaris telah melaksanakan fungsi nominasi selama tahun 2024 untuk
 Direksi kepada RUPS dengan mempertimbangkan rekomendasi              mengusulkan penggantian dan/atau pengangkatan anggota Direksi dan/atau Dewan
 dari rapat Dewan Komisaris yang mengagendakan fungsi                 Komisaris pada RUPS Tahunan tanggal 16 Mei 2024.
 nominasi.
 To propose replacement and/or appointment of members                 The Board of Commissioners carried out its nomination function during 2024 to
 of the Board of Directors to the GMS by considering the              propose replacement and/or appointment of members of the Board of Directors
 recommendations from the Board of Commissioners’ meeting,            and/or Board of Commissioners at the Annual GMS dated May 16th, 2024.
 which has agenda on the nomination function.



Tugas dan Tanggung Jawab                                                            Duties and Responsibilities
Presiden Komisaris                                                                  of President Commissioner

Berikut uraian terkait tugas dan tanggung jawab tambahan bagi                       The following is a description of additional duties and
Presiden Komisaris Perseroan.                                                       responsibilities of the Company’s President Commissioner.
1. Mengoordinasikan pelaksanaan tugas dan tanggung jawab                            1. Coordinate the implementation of duties and responsibilities
    Dewan Komisaris.                                                                    of the Board of Commissioners.
2. Mengusulkan pelaksanaan rapat Dewan Komisaris, termasuk                          2. Propose Board of Commissioners’ meetings, including the
    agenda rapat.                                                                       meeting agenda.
3. Melakukan pemanggilan dan memimpin rapat Dewan Komisaris.                        3. Call and lead the Board of Commissioners’ meeting.



Wewenang Dewan Komisaris                                                            Board of Commissioners’ Authority

Berdasarkan Anggaran Dasar Perseroan yang tercatat dalam                            Based on the Company’s Articles of Association recorded in Deed
Akta No. 130 tanggal 16 Mei 2024, terdapat beberapa tindakan                        No. 130 dated May 16th, 2024, there are several specific actions
spesifik yang memerlukan persetujuan langsung dari Dewan                            that require direct approval from the Board of Commissioners,
Komisaris, di antaranya:                                                            among others:
1. Penunjukan ketua Rapat Umum Pemegang Saham Perseroan;                            1. Appointment of Chairman of the Company’s General Meeting
    serta                                                                               of Shareholders; and
2. Persetujuan Anggaran Keuangan (Budget) Tahunan Perseroan.                        2. Approval of the Company’s Annual Budget.



 86         PT Golden Energy Mines Tbk
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                                                                                                                             Corporate Governance




Sepanjang tahun 2024, Dewan Komisaris Perseroan telah berperan              Throughout 2024, the Company’s Board of Commissioners
aktif dalam pengambilan berbagai keputusan strategis, termasuk              played an active role in making various strategic decisions,
penunjukan ketua RUPS Tahunan, persetujuan anggaran keuangan                including appointing the Annual GMS chairman, approving
tahunan dalam rapat bersama Dewan Komisaris dan Direksi, serta              the annual financial budget in a joint meeting of the Board of
persetujuan pembagian dividen bersama dengan Direksi.                       Commissioners and the Board of Directors, and approving the
                                                                            dividend distribution with the Board of Directors.



Rapat                                                                       Meeting

Rapat internal Dewan Komisaris wajib dilaksanakan setidaknya                The Board of Commissioners’ internal meeting must be held
sekali setiap 2 bulan. Rencana pelaksanaan rapat untuk tahun                at least once every 2 months. The meeting plan for the 2024
buku 2024 telah disampaikan di awal tahun dan telah dibahas                 financial year was submitted at the beginning of the year and
serta disetujui pada Rapat Dewan Komisaris tanggal 18 Januari               was discussed and approved at the Board of Commissioners’
2024. Jika ada anggota Dewan Komisaris yang berhalangan hadir,              Meeting dated January 18th, 2024. If a member of the Board of
maka kuasa dapat diberikan kepada anggota lain yang hadir.                  Commissioners is unable to attend, then power of attorney can
Sepanjang tahun 2024, Dewan Komisaris telah melaksanakan                    be given to another member who is present. Throughout 2024,
rapat sebanyak 7 kali dengan rata-rata tingkat kehadiran sebesar            the Board of Commissioners held 7 meetings, with an average
100,00%.                                                                    attendance rate of 100.00%.


                                                                                  Kehadiran Peserta Rapat
  Tanggal                                                                      Meeting Participants’ Attendance
   Rapat                Agenda Rapat
  Meeting              Meeting Agenda                            Achmad                                                  Dr. Ir.
                                                     Lokita                   Adrian      Alex     Feriwan   Haris                Ketut
   Dates                                                         Ananda                                                Bambang
                                                    Prasetya                 Erlangga**) Sutanto   Sinatra Mustarto
                                                                                                          *)       **)
                                                                                                                                 Sanjaya
                                                               Djajanegara*)                                           Setiawan

               • Persetujuan Budget Tahun 2024;
 18 Januari
                 dan
 2024
               • Sekretaris Perusahaan Update.
 January 18 ,
            th
               • 2024 Budget Approval; and
 2024
               • Corporate Secretary Update.

                • Persetujuan Laporan Keuangan
                  Tahunan 31 Desember 2023;
                  dan
 24 Februari    • Pembahasan Materi Paparan
 2024             Publik Tahunan.
 February 24,   • Approval of the Annual
 2024             Financial Statements as of
                  December 31st, 2023; and
                • Discussion of Annual Public
                  Expose Material.

 4 April 2024   Persetujuan Draft AR dan SR
 April 4th,     Tahun 2023.
 2024           Approval of Draft AR and SR 2023.

               • Fungsi Nominasi dan
                 Remunerasi;
               • Persiapan RUPS Tahunan 2024;
                 dan
               • Persetujuan Dividen Final Tahun
 7 Mei 2024      2023.
 May 7th, 2024 • Nomination and Remuneration
                 Function;
               • Preparation of the 2024 Annual
                 GMS; and
               • Approval of the 2023 Final
                 Dividend.

                • Persetujuan Laporan Keuangan
                  31 Maret 2024;
                • Persetujuan Pembagian Dividen
                  Interim Tahun Buku 2024; dan
                • Fungsi Remunerasi.
 27 Mei 2024
                • Approval of Financial
 May 27th,
                  Statements as of March 31st,
 2024
                  2024;
                • Approval of Interim Dividend
                  Distribution for Fiscal Year
                  2024; and
                • Remuneration Function.


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                                                                                                  Kehadiran Peserta Rapat
   Tanggal                                                                                     Meeting Participants’ Attendance
    Rapat                   Agenda Rapat
   Meeting                 Meeting Agenda                                  Achmad                                                               Dr. Ir.
                                                             Lokita                     Adrian      Alex                Feriwan     Haris                Ketut
    Dates                                                                  Ananda                                                             Bambang
                                                            Prasetya                   Erlangga**) Sutanto              Sinatra*) Mustarto**)           Sanjaya
                                                                         Djajanegara*)
                                                                                                                                              Setiawan

                  • Persetujuan Laporan Keuangan
                    30 Juni 2024;
                  • Persetujuan Pembagian Dividen
                    Interim Kedua Tahun Buku
                    2024; dan
 20 Agustus
                  • Regulation Update.
 2024
                  • Approval of Financial
 August 20th,
                    Statements as of June 30th,
 2024
                    2024;
                  • Approval of Distribution of
                    Second Interim Dividend for
                    Fiscal Year 2024; and
                  • Regulation Update.

             • Persetujuan Laporan Keuangan
               30 September 2024;
             • Persetujuan Pembagian Dividen
 21 November   Ketiga Tahun Buku 2024.
 2024        • Approval of Financial
 November      Statements as of September
 21st, 2024    30th, 2024;
             • Approval of Third Dividend
               Distribution for Fiscal Year
               2024.

 Jumlah Rapat
                                                                 7               3               4             7            3              4              7            7
 Number of Meetings

 Persentase Kehadiran
                                                              100,00          100,00          100,00        100,00       100,00        100,00         100,00        100,00
 Attendance Percentage (%)

*) Efektif menjabat sejak ditutupnya RUPS Tahunan 16 Mei 2024. / Effective since the closing of the Annual GMS dated May 16th, 2024.
**) Mengundurkan diri pada 29 April 2024 dan disahkan dalam RUPS Tahunan 16 Mei 2024. / Resigned on April 29th, 2024 and was ratified at the Annual GMS dated May 16th, 2024.




Program Orientasi                                                                          Orientation and Competency
dan Pengembangan Kompetensi                                                                Development Program

Program      orientasi  diselenggarakan     untuk     anggota                              An orientation program is held for new members of
Dewan Komisaris baru agar mereka memahami hal-hal penting                                  the Board of Commissioners so that they understand important
terkait Perseroan, sehingga dapat menjalankan tugas dan                                    matters related to the Company and perform their duties and
tanggung jawab secara efektif dan efisien. Materi program                                  responsibilities effectively and efficiently. The orientation
orientasi meliputi:                                                                        program materials include:
1. Laporan Keuangan Perseroan;                                                             1. Company’s Financial Statements;
2. Laporan Tahunan;                                                                        2. Annual Report;
3. Piagam Dewan Komisaris; serta                                                           3. Board of Commissioners Charter; and
4. Peraturan perundang-undangan terkait di bidang pasar modal.                             4. Relevant laws and regulations in the capital market sector.


Informasi lengkap tentang Program Orientasi bagi anggota                                   Complete information on the Orientation Program for the
Dewan Komisaris tersedia dalam Piagam Dewan Komisaris, yang                                Board of Commissioners’ members is available in the Board of
dapat diakses melalui situs web Perseroan pada laman Tata                                  Commissioners Charter, which can be accessed on the Company’s
Kelola Perusahaan.                                                                         website on the Corporate Governance page.


Selain itu, Piagam Dewan Komisaris juga mencakup kebijakan                                 Furthermore, the Board of Commissioners Charter also includes
mengenai      program    pengembangan      kompetensi   bagi                               a policy on competency development program for the Board
Dewan Komisaris, yang disarankan untuk dilakukan minimal                                   of Commissioners, which is recommended to be carried out
sekali dalam setahun. Program ini dirancang untuk mendukung                                at least once a year. This program is designed to support
pelaksanaan tugas dan tanggung jawab Dewan Komisaris.                                      the implementation of Board of Commissioners’ duties and
                                                                                           responsibilities.




 88          PT Golden Energy Mines Tbk
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                                                                                                                               Corporate Governance




Pelaksanaan program pengembangan kompetensi yang diikuti                     The implementation of competency development program
anggota Dewan Komisaris selama tahun 2024 diungkapkan                        attended by the Board of Commissioners’ members throughout
dalam tabel berikut.                                                         2024 is disclosed in the following table.


                                                                                        Tempat dan Waktu
                                                                                                                         Penyelenggara
   Nama              Jabatan                         Topik Pelatihan                         Pelatihan
                                                                                                                            Pelatihan
   Name              Position                         Training Topic                     Places and Time
                                                                                                                       Training Organizer
                                                                                            of Training
                                        DIALOG: Arah Kebijakan Investasi dan                                        Asosiasi Pengusaha Indonesia
                                                                                                 Jakarta,
                                        Pasar Modal 2024-2029                                                       (APINDO)
                                                                                             8 Januari 2024
                                        DIALOGUE: Direction of Investment and                                       Indonesian Employers
                                                                                            January 8th, 2024
                                        Capital Market Policy 2024-2029                                             Association
                                                                                                Jakarta,
                                        2024 Re China Investment Indonesia:
                                                                                            16 Januari 2024         Tenggara Strategics
                                        Invest in Indonesia’s Energy Transition
                                                                                           January 16th, 2024
                                                                                                                    Asosiasi Pengusaha Indonesia
                                                                                                Jakarta,
                                                                                                                    (APINDO)
                                        Energy Transition Program                           25 Januari 2024
                                                                                                                    Indonesian Employers
                                                                                           January 25th, 2024
                                                                                                                    Association
                                                                                                Jakarta,
                                        Indonesia Economic Outlook 2024                     29 Februari 2024        CNBC Indonesia
                                                                                           February 29th, 2024
                                                                                                Jakarta,
                                        Asia Pacific Energy Talks: Indonesia Edition          30 April 2024         PT Siemens Energy Indonesia
                                                                                             April 30th, 2024
                                        TOP CSR 2024 - Inovasi CSR dan ESG
                                                                                                Jakarta,
                                        Demi Bisnis Berkelanjutan                                                   Majalah Top Business
                                                                                              29 Mei 2024
                                        TOP CSR 2024 - CSR and ESG Innovation for                                   Top Business Magazine
                                                                                             May 29th, 2024
                                        Sustainable Business
                                        Green Economic Forum 2024 - Green Economy               Jakarta,
 Lokita        Presiden Komisaris       to Support National Growth Amid Global                29 Mei 2024           CNBC Indonesia
 Prasetya      President Commissioner   Uncertainty                                          May 29th, 2024
                                        Conference Road to PLN Investment Days
                                                                                                Jakarta,
                                        2024 II “Accelerating Renewable Energy                                      PT Perusahaan Listrik Negara
                                                                                              4 Juni 2024
                                        Development: Opportunities and Challenges                                   (Persero)
                                                                                             June 4th, 2024
                                        in Indonesia”
                                        Roundtable Talk Series #2: “Inovasi
                                        Pendanaan untuk Membuka Peluang Investasi                                   Masyarakat Energi Terbarukan
                                                                                                Jakarta,
                                        Pengembangan Energi Terbarukan”                                             Indonesia
                                                                                              13 Juni 2024
                                        Roundtable Talk Series #2: “Funding                                         Indonesian Renewable Energy
                                                                                             June 13th, 2024
                                        Innovation to Unlock Investment Opportunities                               Society
                                        for Renewable Energy Development”
                                                                                                Jakarta,
                                        Hydrogen Forum - Indonesia International
                                                                                              19 Juni 2024
                                        Hydrogen Summit 2024                                                        PT Pertamina (Persero) &
                                                                                             June 19th, 2024
                                                                                                                    PT Perusahaan Listrik Negara
                                                                                                Jakarta,            (Persero)
                                        Ammonia Forum - Indonesia International
                                                                                              20 Juni 2024
                                        Hydrogen Summit 2024
                                                                                             June 20th, 2024
                                                                                                Jakarta,
                                                                                                                    Indonesian Geothermal
                                        Geothermal Convention & Exhibition 2024          18-19 September 2024
                                                                                                                    Association
                                                                                        September 18th-19th, 2024
                                                                                               Tangerang,
                                        Sinarmas Digital Day                               27 September 2024        Sinarmas
                                                                                          September 27th, 2024
               Wakil Presiden
 Achmad                                                                                          Bali,
               Komisaris                                                                                            Coaltrans dan Fastmarkets
 Ananda                                 Coaltrans Asia 2024                              9-10 September 2024
               Vice President                                                                                       Coaltrans and Fastmarkets
 Djajanegara                                                                            September 9th-10th, 2024
               Commissioner
                                                                                                 Bali,
                                                                                                                    Coaltrans dan Fastmarkets
                                        Coaltrans Asia 2024                              8-10 September 2024
                                                                                                                    Coaltrans and Fastmarkets
 Alex          Komisaris                                                                September 8th-10th, 2024
 Sutanto       Commissioner                                                                    Tangerang,
                                        Sinarmas Digital Day                               28 September 2024        Sinarmas
                                                                                          September 28th, 2024
                                                                                                Jakarta,
 Feriwan       Komisaris                                                                                            MakkiMakki &
                                        Branding Strategy                                Februari-Agustus 2024
 Sinatra       Commissioner                                                                                         PT ABM Investama Tbk
                                                                                         February-August 2024




                                                                                                       Laporan Tahunan 2024 Annual Report    89
Page 92
Tata Kelola Perusahaan




                                                                                         Tempat dan Waktu
                                                                                                                         Penyelenggara
    Nama                 Jabatan                     Topik Pelatihan                          Pelatihan
                                                                                                                            Pelatihan
    Name                 Position                     Training Topic                      Places and Time
                                                                                                                       Training Organizer
                                                                                             of Training

                                                                                                 Jakarta,
                                                                                                                     PT Bank Mandiri (Persero) Tbk
                                         Economic Outlook & Industry Update                    11 Juli 2024
                                                                                                                     & PT ABM Investama Tbk
                                                                                              July 11th, 2024
                                                                                                                     Kementerian Energi dan
                                                                                                                     Sumber Daya Mineral &
                                                                                                 Jakarta,
                                                                                                                     PT ABM Investama Tbk
                                         Coal and Mineral Business Outlook                     18 Juli 2024
                                                                                                                     Ministry of Energy and
                                                                                              July 18th, 2024
                                                                                                                     Mineral Resources &
                                                                                                                     PT ABM Investama Tbk
                                                                                                Las Vegas,
                                         MineExpo 2024                                    24-25 September 2024       National Mining Association
                                                                                         September 24th-25th, 2024
 Dr. Ir.        Komisaris Independen                                                              Bali,
                                                                                                                     Coaltrans dan Fastmarkets
 Bambang        Independent              Coaltrans Asia 2024                              9-10 September 2024
                                                                                                                     Coaltrans and Fastmarkets
 Setiawan       Commissioner                                                             September 9th-10th, 2024
                Komisaris Independen                                                              Bali,
 Ketut                                                                                                               Coaltrans dan Fastmarkets
                Independent              Coaltrans Asia 2024                              9-10 September 2024
 Sanjaya                                                                                                             Coaltrans and Fastmarkets
                Commissioner                                                             September 9th-10th, 2024




Penilaian Kinerja                                                            Performance Assessment

Kebijakan, Pelaksana,                                                        Policies, Implementers,
dan Kriteria Penilaian                                                       and Assessment Criteria
Penilaian kinerja Dewan Komisaris dan organ pendukungnya                     The performance assessment of the Board of Commissioners
dilakukan secara mandiri (self-assessment) menggunakan                       and its supporting organs is carried out independently (self-
metode balance scorecard. Dewan Komisaris mengukur dan                       assessment) by using the balanced scorecard method. The Board
memantau pencapaian kinerja yang telah direncanakan pada                     of Commissioners measures and monitors the performance
awal tahun berdasarkan 4 kriteria utama, yakni pencapaian                    achievement against the plan set at the beginning of the year
financial, customer value proportion, internal business process,             based on 4 main criteria, namely financial achievement, customer
dan strategic capital. Proses penilaian ini didukung oleh Tim SDM            value proportion, internal business process, and strategic capital.
Perseroan pada akhir tahun. Selain itu, kinerja Dewan Komisaris              This assessment process is supported by the Company’s HR Team
juga dievaluasi secara kolegial oleh Pemegang Saham dalam                    at the end of the year. Moreover, the Board of Commissioners’
RUPS Tahunan.                                                                performance is also evaluated collegially by Shareholders in the
                                                                             Annual GMS.


Hasil Penilaian                                                              Assessment Results
Berdasarkan hasil penilaian tahun 2024, Dewan Komisaris telah                Based on the 2024 assessment results, the Board of
menjalankan tugas dan tanggung jawabnya dengan baik serta                    Commissioners carried out its duties and responsibilities properly
mencapai target yang telah ditetapkan oleh Perseroan.                        and achieved the targets set by the Company.



Penilaian Kinerja Organ Pendukung                                            Performance Assessment of the Board of
Dewan Komisaris                                                              Commissioners’ Supporting Organs

Kebijakan, Pelaksana,                                                        Policies, Implementers,
dan Kriteria Penilaian                                                       and Assessment Criteria
Dewan Komisaris secara rutin mengevaluasi kinerja Komite Audit               The Board of Commissioners routinely evaluates the Audit
menggunakan kriteria yang sama seperti dalam penilaian kinerja               Committee’s performance by using the same criteria as that of
Dewan Komisaris.                                                             the Board of Commissioners’ performance assessment.


Hasil Penilaian                                                              Assessment Results
Berdasarkan penilaian kinerja tahun 2024, Komite Audit                       Based on the 2024 performance assessment, the Audit Committee
telah menjalankan tugas dan tanggung jawabnya sebagai                        carried out its duties and responsibilities as a supporting organ of
organ pendukung Dewan Komisaris secara efektif. Hal ini                      the Board of Commissioners effectively. This includes supervision
mencakup pengawasan atas Laporan Keuangan, kepatuhan                         of the Financial Statements, compliance with regulations, and
terhadap regulasi, serta evaluasi terhadap sistem pengendalian               evaluation of the Company’s internal control system.
internal Perseroan.


 90         PT Golden Energy Mines Tbk
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                                                                                                                                Corporate Governance




Direksi
Board of Directors


Direksi bertanggung jawab untuk memastikan tercapainya kinerja             The Board of Directors is responsible for ensuring sustainable
optimal secara berkelanjutan. Oleh karena itu, Direksi selalu              and optimal performance achievement. Therefore, the Board of
melakukan pengawasan ketat dan mengambil keputusan yang                    Directors always carries out strict supervision and makes the right
tepat guna memastikan bahwa kegiatan bisnis Perseroan berjalan             decisions to ensure that the Company’s business activities run in
sesuai dengan tujuan yang telah ditetapkan.                                accordance with the objectives that have been set.



Pedoman Kerja                                                              Board Charter

Direksi menjalankan tugas dan tanggung jawabnya sesuai dengan              The Board of Directors carries out its duties and responsibilities
Piagam Direksi. Piagam ini ditinjau secara berkala, dengan                 in accordance with the Board of Directors Charter. This charter is
pembaruan terakhir pada 30 Mei 2022, dan telah dipublikasikan              reviewed periodically, of which the last update was on May 30th,
di situs web Perseroan pada laman Tata Kelola Perusahaan.                  2022, and has been published on the Company’s website on the
                                                                           Corporate Governance page.



Komposisi                                                                  Composition

Pada tahun 2024, terjadi perubahan dalam susunan                           In 2024, there was a change in the Company’s Board of Directors’
anggota Direksi Perseroan seiring dengan pengunduran diri                  composition due to the resignation of Mr. Feriwan Sinatra from
Bapak Feriwan Sinatra dari jabatannya sebagai Wakil Presiden               his position as Vice President Director. The resignation letter of
Direktur. Surat pengunduran diri anggota Direksi tersebut                  the Director was received by the Company on April 30th, 2024 and
diterima oleh Perseroan pada tanggal 30 April 2024 dan                     validated through the Annual GMS Resolution dated May 16th,
disahkan melalui Keputusan RUPS Tahunan tanggal 16 Mei                     2024. Based on the Annual GMS Resolution, the Company also
2024. Berdasarkan keputusan RUPS Tahunan tersebut, Perseroan               appointed Mr. Haris Mustarto as Vice President Director, who
juga mengangkat Bapak Haris Mustarto sebagai Wakil Presiden                previously served as Commissioner.
Direktur, yang sebelumnya menjabat sebagai Komisaris.


            Jabatan                      Periode 1 Januari 2024-16 Mei 2024             Periode 16 Mei 2024-31 Desember 2024
            Position                  Period of January 1st, 2024-May 16th, 2024      Period of May 16th, 2024-December 31st, 2024

 Presiden Direktur
                                     Bonifasius                                       Bonifasius
 President Director

 Wakil Presiden Direktur
                                     Feriwan Sinatra                                  Haris Mustarto*)
 Vice President Director

 Direktur
                                     Raden Utoro                                      Raden Utoro
 Director

 Direktur
                                     Yoghi Nuswantoro                                 Yoghi Nuswantoro
 Director

 Direktur
                                     Suhendra                                         Suhendra
 Director

 Direktur
                                     Paulus Yuniardi                                  Paulus Yuniardi
 Director

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.




                                                                                                        Laporan Tahunan 2024 Annual Report    91
Page 94
Tata Kelola Perusahaan




Dengan demikian, susunan anggota Direksi Perseroan                                      Thus, the Board of Directors’ composition                       as   of
per 31 Desember 2024 diungkapkan sebagai berikut.                                       December 31st, 2024 is disclosed as follows.


                                                         Masa Awal           Masa Akhir
        Nama                    Jabatan                   Jabatan              Jabatan           Dasar Pengangkatan/Pengangkatan Kembali
        Name                    Position                Initial Term          End Term               Appointment Basis/Reappointment
                                                          of Office           of Office

                                                                                           •   Keputusan RUPS Luar Biasa 25 November 2016; dan
                         Presiden Direktur                                                 •   Keputusan RUPS Tahunan 6 Mei 2021.
 Bonifasius                                                   2017              2026
                         President Director                                                •   Resolution of the Company’s EGMS dated November 25th, 2016; and
                                                                                           •   Resolution of the Company’s AGMS dated May 6th, 2021

                         Wakil Presiden Direktur                                           Keputusan RUPS Tahunan 16 Mei 2024.
 Haris Mustarto*)                                             2024              2026
                         Vice President Director                                           Resolution of the Company’s AGMS dated May 16th, 2024.

                                                                                           •   Keputusan RUPS Luar Biasa 25 November 2016; dan
                         Direktur                                                          •   Keputusan RUPS Tahunan 6 Mei 2021.
 Raden Utoro                                                  2017              2026
                         Director                                                          •   Resolution of the Company’s EGMS dated November 25th, 2016; and
                                                                                           •   Resolution of the Company’s AGMS dated May 6th, 2021.

 Yoghi                   Direktur                                                          Keputusan RUPS Luar Biasa 22 November 2022.
                                                              2022              2026
 Nuswantoro              Director                                                          Resolution of the Company’s EGMS dated November 22nd, 2022.

                                                                                           •   Keputusan RUPS Tahunan 3 Mei 2018; dan
                         Direktur                                                          •   Keputusan RUPS Tahunan 6 Mei 2021.
 Suhendra                                                     2018              2026
                         Director                                                          •   Resolution of the Company’s AGMS dated May 3rd, 2018; and
                                                                                           •   Resolution of the Company’s AGMS dated May 6th, 2021.

                         Direktur                                                          Keputusan RUPS Luar Biasa 22 November 2022.
 Paulus Yuniardi                                              2022              2026
                         Director                                                          Resolution of the Company’s EGMS dated November 22nd, 2022.

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.




Kebijakan Keberagaman Komposisi                                                         Policy of Composition Diversity

Perseroan menetapkan kebijakan keberagaman dalam komposisi                              The Company has established a diversity policy on the Board of
Direksi untuk meningkatkan kualitas pengambilan keputusan.                              Directors’ composition to improve the decision-making quality.
Kebijakan ini diimplementasikan dengan memperhatikan                                    This policy is implemented by considering various aspects,
beragam aspek, di antaranya pendidikan, pengalaman kerja, usia,                         including education, work experience, age, and gender. Further
dan jenis kelamin. Uraian lebih lanjut terkait kebijakan ini dapat                      description of this policy can be seen in the following table.
dilihat dalam tabel berikut.


  Aspek Keberagaman                                                        Penjelasan
  Aspects of Diversity                                                      Remarks                                   Komposisi Direksi telah memenuhi
                                                                                                                      unsur keberagaman, yaitu perpaduan
                                     Latar belakang pendidikan mulai dari S1-S3, dengan kompetensi di bidang          dari sisi pendidikan, pengalaman kerja,
                                     Ekonomi (Akuntansi), Manajemen, Teknik Pertanian, Keuangan, Teknik Mesin,        dan usia. Informasi terkait keberagaman
                                     dan Teknik Sipil.                                                                komposisi Direksi telah diungkapkan
 Pendidikan                                                                                                           pada bagian Profil Direksi bab Profil
                                     Educational background ranging from Bachelor’s degree to Doctorate degree,
 Education                                                                                                            Perusahaan dalam Laporan Tahunan ini.
                                     with competencies in the fields of of Economics (Accounting), Management,
                                     Agricultural Engineering, Finance, Mechanical Engineering, and Civil             The composition of the Board of
                                     Engineering.                                                                     Directors has fulfilled the elements of
                                                                                                                      diversity, which include the combination
 Pengalaman Kerja                    Profesional bidang Manajemen, Pertambangan, Energi, dan Keuangan.                of education, work experience, and age.
 Work Experience                     Professional in Management, Mining, Energy, and Finance.                         Information on the diversity of the
                                                                                                                      Board of Directors’ composition has
 Usia                                Rata-rata usia, yaitu 38-65 tahun.
                                                                                                                      been disclosed in the Board of Directors’
 Age                                 Average age is 38-65 years old.
                                                                                                                      Profile section of the Company Profile
 Jenis Kelamin                       Perseroan belum memiliki anggota Direksi yang berjenis kelamin wanita.           Chapter in this Annual Report.
 Gender                              The Company does not have any female member of the Board of Director.




Independensi dan Hubungan Afiliasi                                                      Independency and Affiliation Relationship

Independensi bagi anggota Direksi memungkinkan mereka                                   Independence of the Board of Directors’ members allows them
untuk bertindak dan mengambil keputusan tanpa pengaruh                                  to act and make decisions without influence or pressure from
atau tekanan dari pihak eksternal, termasuk Pemegang                                    external parties, including Shareholders and management.
Saham dan manajemen. Hal ini penting untuk memastikan                                   This is important to ensure a transparent and accountable
proses pengambilan keputusan yang transparan dan dapat                                  decision-making process. The affiliation relationship between


 92          PT Golden Energy Mines Tbk
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                                                                                                                                          Corporate Governance




dipertanggungjawabkan. Adapun hubungan afiliasi antara                               the Board of Directors and the Board of Commissioners and the
Direksi dengan Dewan Komisaris serta Pemegang Saham                                  Company’s Major/Controlling Shareholders has been described in
Utama/Pengendali Perseroan telah diuraikan pada bagian Profil                        the Board of Directors’ Profile section in the Company Profile
Direksi dalam bab Profil Perusahaan di Laporan Tahunan ini.                          chapter in this Annual Report.



Rangkap Jabatan                                                                      Concurrent Position

Rangkap jabatan Direksi Perseroan per 31 Desember 2024 sesuai                        Concurrent position of the Company’s Board of Directors as of
dengan ketentuan Anggaran Dasar dan peraturan perundangan                            December 31st, 2024, is in accordance with the provisions of the
yang berlaku.                                                                        Articles of Association and applicable laws and regulations.


      Nama                        Jabatan                   Jabatan pada Perusahaan Lain/Instansi Lain                Nama Perusahaan/Instansi Lain
      Name                        Position                    Position in Other Company/Institution                   Name of Company/Institution

                       Wakil Presiden Direktur              Direktur
 Haris Mustarto*)                                                                                                    PT ABM Investama Tbk
                       Vice President Director              Director

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.




Tugas dan Tanggung Jawab Direksi                                                     Duties and Responsibilities
                                                                                     of Board of Directors

Uraian tugas dan tanggung jawab Direksi Perseroan sebagai                            The description of the Board of Directors’ duties and
berikut.                                                                             responsibilities is as follows.
1. Memelihara dan mengurus kekayaan perusahaan untuk                                 1. To maintain and manage the Company’s wealth for the
    kepentingan Perseroan.                                                               interest of the Company.
2. Mewakili Perseroan di dalam dan di luar pengadilan tentang                        2. To represent the Company inside and outside the court
    segala hal dan dalam segala kejadian, mengikat Perseroan                             concerning all matters and all events, to bind the Company
    dengan pihak lain, serta menjalankan segala tindakan, baik                           with other parties, and to carry out all actions, both on
    mengenai kepengurusan maupun kepemilikan, dengan                                     management and ownership, with authority limitation as
    pembatasan wewenang sebagaimana diatur dalam Anggaran                                regulated in the Company’s Articles of Association and the
    Dasar Perseroan dan peraturan yang berlaku.                                          applicable regulations.
3. Mengangkat seorang atau lebih sebagai kuasa dengan                                3. To appoint one or more proxies with authority and conditions
    wewenang dan syarat-syarat yang ditentukan oleh Direksi                              as determined by the Board of Directors in a special power
    dalam suatu surat kuasa khusus, tanpa mengurangi tanggung                            of attorney, without reducing responsibilities of the Board of
    jawab Direksi.                                                                       Directors.


Pembagian tugas masing-masing Direksi ditentukan untuk                               The division of duties for each Director is determined to ensure
memastikan setiap anggota Direksi fokus pada tugas dan                               that each member of the Board of Directors focuses on specific
tanggung jawab secara spesifik. Adapun pembagian tugas yang                          duties and responsibilities. The division of duties is described in
dimaksud diuraikan dalam tabel berikut.                                              the following table.


     Nama dan Jabatan                                                            Tugas dan Tanggung Jawab
     Name and Position                                                           Duties and Responsibilities

                                        Melakukan koordinasi serta menyelaraskan seluruh strategi dan program kerja dari masing-masing divisi dan bisnis unit,
 Bonifasius
                                        termasuk bertanggung jawab atas divisi perdagangan batu bara.
 Presiden Direktur
                                        Coordinate and synchronize all strategies and work programs of each division and business unit and is responsible for
 President Director
                                        the coal trading division.

                                        Membantu pelaksanaan tugas dari Presiden Direktur serta melakukan pengawasan terhadap pelaksanaan seluruh
 Haris Mustarto*)
                                        program kerja yang telah ditetapkan.
 Wakil Presiden Direktur
                                        Assist the implementation of the President Director’s duties and supervise the implementation of all predetermined
 Vice President Director
                                        work programs.

 Raden Utoro
                                        Bertanggung jawab atas kegiatan operasional pertambangan yang dilakukan oleh Perseroan.
 Direktur
                                        Responsible for the Company’s mining operational activities.
 Director

                                        Melakukan koordinasi, mengendalikan, serta mengevaluasi setiap pelaksanaan kegiatan operasional Perseroan
 Yoghi Nuswantoro
                                        di bidang keuangan, anggaran, dan akuntansi.
 Direktur
                                        Coordinate, control, and evaluate the implementation of each of the Company’s operational activities in the fields
 Director
                                        of finance, budget, and accounting.



                                                                                                                  Laporan Tahunan 2024 Annual Report     93
Page 96
Tata Kelola Perusahaan




     Nama dan Jabatan                                                            Tugas dan Tanggung Jawab
     Name and Position                                                           Duties and Responsibilities

                                        Membantu pelaksanaan tugas dari Chief Financial Officer (CFO) dalam melakukan koordinasi, mengendalikan, serta
 Suhendra
                                        mengevaluasi setiap pelaksanaan kegiatan operasional Perseroan di bidang budget, akuntansi, dan pajak.
 Direktur
                                        Assist the implementation of duties from the Chief Financial Officer (CFO) in coordinating, controlling, and evaluating
 Director
                                        every operational activity for budgeting, accounting, and tax.

                                        Membantu pelaksanaan tugas dari CFO dalam melakukan koordinasi, mengendalikan, serta mengevaluasi setiap
 Paulus Yuniardi
                                        pelaksanaan kegiatan operasional Perseroan di bidang keuangan, perbankan, dan treasury.
 Direktur
                                        Assist the implementation of duties from CFO in coordinating, controlling, and evaluating every operational activity for
 Director
                                        finance, banking, and treasury.

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.




Wewenang Direksi                                                                        Board of Directors’ Authority

Direksi memiliki wewenang untuk mengatur kepengurusan                                   The Board of Directors has the authority to regulate the Company
Perseroan, termasuk penetapan strategi, anggaran keuangan, dan                          management, including determining strategies, financial
pengelolaan risiko. Pada tahun 2024, Direksi telah menjalankan                          budgets, and risk management. In 2024, the Board of Directors
kewenangan ini, dan laporan mengenai pelaksanaannya                                     exercised its authority, and the report on its implementation is
diungkapkan dalam bab Laporan Direksi.                                                  disclosed in the Board of Directors’ Report chapter.


Direksi juga memerlukan persetujuan dari Dewan Komisaris untuk                          The Board of Directors also requires approval from the Board of
melakukan tindakan berikut.                                                             Commissioners to take the following actions.
1. Membuka kantor cabang atau kantor perwakilan, baik di                                1. Opening a branch office or representative office, both inside
    dalam maupun di luar wilayah Republik Indonesia.                                       and outside the territory of the Republic of Indonesia.
2. Pembagian dividen interim sebelum akhir tahun buku                                   2. Distributing interim dividend before the end of the Company’s
    Perseroan dengan memperhatikan peraturan perundang-                                    financial year with due observance of the applicable laws and
    undangan yang berlaku.                                                                 regulations.



Rapat                                                                                   Meeting

Rapat Internal Direksi                                                                  Board of Directors’ Internal Meeting
Rapat internal Direksi wajib dilaksanakan setidaknya 1 kali                             The Board of Directors’ internal meeting must be held at least
dalam sebulan. Rencana pelaksanaan rapat untuk tahun buku                               once a month. The meeting implementation plan for the 2024
2024 telah disampaikan di awal tahun dan telah dibahas serta                            financial year was submitted at the beginning of the year and
disetujui pada Rapat Dewan Komisaris tanggal 18 Januari 2024.                           was discussed and approved at the Board of Commissioners
Jika terdapat Direksi yang berhalangan hadir, kuasa dapat                               Meeting on January 18th, 2024. If there is a Director who is unable
diserahkan kepada anggota lain yang hadir. Pada tahun 2024,                             to attend, the power of attorney can be delegated to another
Direksi telah melaksanakan rapat sebanyak 12 kali, dengan rata-                         member who is present. In 2024, the Board of Directors held
rata tingkat kehadiran sebesar 89,29%.                                                  12 meetings, with an average attendance rate of 89.29%.


                                                                                              Kehadiran Peserta Rapat
   Tanggal
                                                                                           Meeting Participants’ Attendance
    Rapat                    Agenda Rapat
   Meeting                  Meeting Agenda
                                                                            Haris          Feriwan      Raden          Yoghi                          Paulus
    Dates                                                     Bonifasius                                                              Suhendra
                                                                           Mustarto*)      Sinatra**)   Utoro       Nuswantoro                       Yuniardi

 22 Januari        Performance Perseroan Periode
 2024              Desember 2023.
 January 22nd,     Company Performance for the
 2024              Period of December 2023.

 21 Februari       Performance Perseroan Periode
 2024              Januari 2024.
 February          Company Performance for the
 21st, 2024        Period of January 2024.

                   • Performance Perseroan
                     Periode Februari 2024; dan
 20 Maret          • Pembahasan Draft AR dan SR
 2024                tahun 2023.
 March 20th,       • Company Performance for the
 2024                Period of February 2024; and
                   • Discussion of Draft AR and SR
                     for 2023.


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                                                                                                                                                        Corporate Governance




                                                                                                   Kehadiran Peserta Rapat
   Tanggal
                                                                                                Meeting Participants’ Attendance
    Rapat                   Agenda Rapat
   Meeting                 Meeting Agenda
                                                                               Haris           Feriwan          Raden           Yoghi                              Paulus
    Dates                                                    Bonifasius                                                                          Suhendra
                                                                              Mustarto*)       Sinatra**)       Utoro        Nuswantoro                           Yuniardi

                   • Persiapan RUPS Tahunan; dan
                   • Persetujuan Dividen Final
 7 Mei 2024          Tahun Buku 2023.
 May 7th,          • Preparation of the Annual
 2024                GMS; and
                   • Approval of the Final Dividend
                     for the 2023 Financial Year.

                   Performance Perseroan Periode
 27 Mei 2024
                   April 2024.
 May 27th,
                   Company Performance for the
 2024
                   Period of April 2024.

                   Performance Perseroan Periode
 21 Juni 2024
                   Mei 2024.
 June 21st,
                   Company Performance for the
 2024
                   Period of May 2024.

                   Performance Perseroan Periode
 19 Juli 2024
                   Juni 2024.
 July 19th,
                   Company Performance for the
 2024
                   Period of June 2024.

 20 Agustus        Performance Perseroan Periode
 2024              Juli 2024.
 August 20th,      Company Performance for the
 2024              Period of July 2024.

 18
                   Performance Perseroan Periode
 September
                   Agustus 2024.
 2024
                   Company Performance for the
 September
                   Period of August 2024.
 18th, 2024

 16 Oktober        Performance Perseroan Periode
 2024              September 2024.
 October 16th,     Company Performance for the
 2024              Period of September 2024.

             • Performance Perseroan
               periode Oktober 2024; dan
             • Persetujuan Dividen Final
 21 November
               Interim ke-3 Tahun Buku 2024.
 2024
             • Company Performance for the
 November
               Period of October 2024; and
 21st, 2024
             • Approval of the Third Interim
               Final Dividend for the Financial
               Year 2024.

             • Performance Perseroan
 19 Desember   Periode November 2024; dan
 2024        • Budget 2025.
 December    • Company Performance for the
 19th, 2024    Period of November 2024; and
             • Budget 2025.

 Jumlah Rapat
                                                                  12                8               1             12               12                 12              12
 Number of Meetings

 Persentase Kehadiran
                                                                100.00           100.00          25.00          100.00           100.00            100.00          100.00
 Attendance Percentage (%)

*) Efektif menjabat sejak ditutupnya RUPS Tahunan 16 Mei 2024, namun mengundurkan diri pada 14 April 2025. / Effective as of the closing of the Annual GMS dated May 16th, 2024,
    but resigned on April 14th, 2025.
**) Mengundurkan diri pada 29 April 2024 dan disahkan dalam RUPS Tahunan 16 Mei 2024. / Resigned on April 29th, 2024, and was ratified at the Annual GMS dated May 16th, 2024.


Rapat Gabungan Dewan Komisaris                                                              Joint Meeting of the Board of Commissioners
dan Direksi                                                                                 and Board of Directors
Dewan Komisaris dan Direksi mengadakan rapat gabungan                                       The Board of Commissioners and Board of Directors hold
setidaknya 3 kali dalam setahun untuk membahas dan menyetujui                               joint meetings at least 3 times a year to discuss and approve
Laporan Keuangan Triwulan dan pelaksanaan GCG Perseroan.                                    the Company’s Quarterly Financial Statements and GCG
Pada tahun 2024, rapat gabungan dilaksanakan sebanyak 4 kali,                               implementation. In 2024, joint meetings were held 4 times, with
dengan rata-rata tingkat kehadiran sebagai berikut.                                         the following average attendance levels.



                                                                                                                            Laporan Tahunan 2024 Annual Report           95
Page 98
Tata Kelola Perusahaan




                                                                                                   Kehadiran Peserta Rapat
                                                                                                Meeting Participants’ Attendance
   Tanggal
    Rapat                 Agenda Rapat
                                                                          Dewan Komisaris                                                  Direksi
   Meeting               Meeting Agenda
                                                                       Board of Commissioners                                         Board of Directors
    Dates
                                                        LP     AAD*) AE**)        AS     FS*)    HM***)   BS    KS       B    FS****) HM*)      RU      YN        S      PY

                   •   Persetujuan Laporan
                       Keuangan Tahunan
                       31 Desember 2023; dan
 28 Februari       •   Pembahasan Materi Paparan
 2024                  Publik Tahunan.
 February 28th,    •   Approval of the Annual
 2024                  Financial Statements as of
                       December 31st, 2023; and
                   •   Discussion of Annual Public
                       Expose Materials.
                   •   Persetujuan Laporan
                       Keuangan 31 Maret 2024;
                   •   Persetujuan pembagian
                       Dividen Interim Tahun Buku
                       2024; dan
                   •   Fungsi Remunerasi.
 27 Mei 2024
                   •   Approval of Financial
 May 27th, 2024
                       Statements as of March 31st,
                       2024;
                   •   Approval of Interim Dividend
                       Distribution for Fiscal Year
                       2024; and
                   •   Remuneration Function.
                   •   Persetujuan Laporan
                       Keuangan 30 Juni 2024;
                   •   Persetujuan pembagian
                       Dividen Interim ke-2 Tahun
                       Buku 2024; dan
 20 Agustus 2024 •     Regulation Update.
 August 20th,    •     Approval of Financial
 2024                  Statements as of June 30th,
                       2024;
                   •   Approval of Distribution of
                       Second Interim Dividend for
                       Fiscal Year 2024; and
                   •   Regulation Update.
                   •   Persetujuan Laporan
                       Keuangan
                       30 September 2024; dan
                   •   Persetujuan pembagian
                       Dividen Interim ke-3 Tahun
 21 November 24
                       Buku 2024.
 November 21st,
                •      Approval of Financial
 2024
                       Statements as of
                       September 30th, 2024; and
                   •   Approval of Third Dividend
                       Distribution for Fiscal Year
                       2024.
 Jumlah Rapat
                                                         4       3         1      4       3         1     4      4       4       1        3      4       4        4       4
 Number of Meetings
 Persentase Kehadiran
                                                      100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100,00 100.00 100.00 100.00 100.00 100.00
 Attendance Percentage (%)

*)    Efektif menjabat sejak ditutupnya RUPS Tahunan 16 Mei 2024. / Effective since the closing of the Annual GMS dated May 16th, 2024.
**) Mengundurkan diri pada 29 April 2024 dan disahkan dalam RUPS Tahunan 16 Mei 2024. / Resigned on April 29th, 2024 and was ratified at the Annual GMS dated May 16th, 2024.
***) Efektif menjabat sejak ditutupnya RUPS Tahunan 16 Mei 2024, namun mengundurkan diri pada 14 April 2025. / Effective as of the closing of the Annual GMS dated May 16th,
      2024, but resigned on April 14th, 2025.
****) Mengundurkan diri sebagai anggota Direksi pada 29 April 2024 dan disahkan dalam RUPS Tahunan 16 Mei 2024. / Resigned as a member of the Board of Directors on April 29th,
      2024 and was ratified at the Annual GMS dated May 16th, 2024.
Keterangan / Remarks:
LP : Lokita Prasetya                     FS   : Feriwan Sinatra                B  : Bonifasius                 YN    : Yoghi Nuswantoro
AAD : Achmad Ananda Djajanegara          BS   : Dr. Ir. Bambang Setiawan       HM : Haris Mustarto             S     : Suhendra
AE : Adrian Erlangga                     KS   : Ketut Sanjaya                  RU : Raden Utoro                PY    : Paulus Yuniardi
AS : Alex Sutanto




Program Orientasi                                                                               Orientation and Competency
dan Pengembangan Kompetensi                                                                     Development Program

Program orientasi diselenggarakan untuk anggota Direksi baru                                    An orientation program is held for new members of the Board of
agar mereka memahami hal-hal penting terkait Perseroan,                                         Directors so that they understand important matters related to the
sehingga dapat menjalankan tugas dan tanggung jawab secara                                      Company, and perform their duties and responsibilities effectively
efektif dan efisien. Materi program orientasi meliputi:                                         and efficiently. The orientation program materials include:



 96          PT Golden Energy Mines Tbk
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                                                                                                                                          Corporate Governance




1.   Laporan Keuangan Perseroan;                                                       1.   Company’s Financial Statements;
2.   Laporan Tahunan;                                                                  2.   Annual Report;
3.   Piagam Direksi; serta                                                             3.   Board of Directors Charter; and
4.   Peraturan perundang-undangan terkait di bidang pasar modal.                       4.   Relevant laws and regulations in the capital market sector.


Informasi lengkap tentang Program Orientasi bagi anggota                               Complete information on the Orientation Program for Board
Direksi tersedia dalam Piagam Direksi, yang dapat diakses melalui                      of Directors’ members is available in the Board of Directors
situs web Perseroan pada laman Tata Kelola Perusahaan.                                 Charter, accessible on the Company’s website on Corporate
                                                                                       Governance page.


Selain itu, Piagam Direksi juga mencakup kebijakan mengenai                            Furthermore, the Board of Directors Charter also includes policy
program pengembangan kompetensi bagi Direksi, yang                                     on competency development programs for the Board of Directors,
disarankan untuk dilakukan minimal sekali dalam setahun.                               which are recommended to be carried out at least once a year.
Program ini dirancang untuk mendukung pelaksanaan tugas dan                            This program is designed to support the implementation of Board
tanggung jawab Direksi.                                                                of Directors’ duties and responsibilities.


Pelaksanaan program pengembangan kompetensi yang diikuti                               The implementation of competency development programs
anggota Direksi selama tahun 2024 diungkapkan pada tabel berikut.                      attended by the Board of Directors’ members throughout 2024 is
                                                                                       disclosed in the following table.


                                                                                                    Tempat dan Waktu
                                                                                                                                    Penyelenggara
     Nama                  Jabatan                                Topik Pelatihan                        Pelatihan
                                                                                                                                       Pelatihan
     Name                  Position                                Training Topic                    Places and Time
                                                                                                                                  Training Organizer
                                                                                                        of Training
                                                                                                             Bali,
                   Presiden Direktur                                                                                           Coaltrans dan Fastmarkets
 Bonifasius                                       Coaltrans Asia 2024                                9-10 September 2024
                   President Director                                                                                          Coaltrans and Fastmarkets
                                                                                                    September 9th-10th, 2024

                                                                                                            Jakarta,
                                                                                                                               MakkiMakki &
                                                  Branding Strategy                                  Februari-Agustus 2024
                                                                                                                               PT ABM Investama Tbk
                                                                                                     February-August 2024

                                                                                                            Jakarta,
                                                                                                                               PT Bank Mandiri (Persero) Tbk
                                                  Economic Outlook & Industry Update                      11 Juli 2024
                                                                                                                               & PT ABM Investama Tbk
                                                                                                         July 11th, 2024

 Haris             Wakil Presiden Direktur                                                                                     Kementerian Energi dan
 Mustarto*)        Vice President Director                                                                                     Sumber Daya Mineral &
                                                                                                            Jakarta,
                                                                                                                               PT ABM Investama Tbk
                                                  Coal and Mineral Business Outlook                       18 Juli 2024
                                                                                                                               Ministry of Energy and
                                                                                                         July 18th, 2024
                                                                                                                               Mineral Resources & PT ABM
                                                                                                                               Investama Tbk

                                                                                                             Bali,
                                                  ASEAN Mining Conference 2024                       18-20 November 2024       Indonesia Mining Association
                                                                                                    November 18th-20th 2024

                                                  Updating Ketentuan Pajak 2024: Efisiensi Tax
                                                                                                            Jakarta,
                                                  Compliance dan Mitigasi Risiko Pajak
                                                                                                        27 Agustus 2024        Ortax PT Integral Data Prima
                                                  Updating Tax Provisions 2024: Tax Compliance
                                                                                                        August 27th 2024
                                                  Efficiency and Tax Risk Mitigation

                                                                                                                               • Otoritas Jasa Keuangan;
                                                                                                                               • PT Bursa Efek Indonesia;
                                                                                                                               • Indonesia Clearing and
                                                                                                                                 Guarantee Corporation
 Yoghi             Direktur                                                                                                      (IDClear); dan
 Nuswantoro        Director                                                                                                    • PT Kustodian Sentral Efek
                                                  CEO Networking 2024 “Navigating Global                   Jakarta,
                                                                                                                                 Indonesia (KSEI).
                                                  Market Forces and Technology Innovation for         26 November 2024
                                                                                                                               • Financial Services Authority;
                                                  Sustainable Business”                               November 26th 2024
                                                                                                                               • PT Bursa Efek Indonesia;
                                                                                                                               • Indonesia Clearing and
                                                                                                                                 Guarantee Corporation
                                                                                                                                 (IDClear); and
                                                                                                                               • PT Kustodian Sentral Efek
                                                                                                                                 Indonesia (KSEI).
*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.




                                                                                                                  Laporan Tahunan 2024 Annual Report     97
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Tata Kelola Perusahaan




                                                                                          Tempat dan Waktu
                                                                                                                         Penyelenggara
    Nama                 Jabatan                     Topik Pelatihan                           Pelatihan
                                                                                                                            Pelatihan
    Name                 Position                     Training Topic                       Places and Time
                                                                                                                       Training Organizer
                                                                                              of Training

                                        Webinar Asosiasi Emiten Indonesia "Introduction
                                        to Carbon Accounting"                                     Jakarta,           Asosiasi Emiten Indonesia
                                        Webinar of Indonesian Public Listed Companies         23 Januari 2024        Indonesian Public Listed
                Direktur                Association “Introduction to Carbon                  January 23rd, 2024      Companies Association
Suhendra                                Accounting”
                Director
                                                                                                   Bali,
                                                                                                                     Coaltrans dan Fastmarkets
                                        Coaltrans Asia 2024                                9-10 September 2024
                                                                                                                     Coaltrans and Fastmarkets
                                                                                          September 9th-10th, 2024




Pelaksanaan Tugas Tahun 2024                                                Implementation of Duties in 2024

Pada tahun 2024, Direksi telah mengoptimalkan pelaksanaan                   In 2024, the Board of Directors optimized the implementation of
tugas dan tanggung jawab dalam mengelola Perseroan. Hal ini                 its duties and responsibilities in managing the Company. This is
dicapai melalui implementasi strategi jangka pendek dan panjang             achieved through the implementation of short-term and long-
yang mendukung pertumbuhan dan keberlanjutan bisnis.                        term strategies that support business growth and sustainability.



Penilaian Kinerja Direksi                                                   Performance Assessment of
                                                                            the Board of Directors

Kebijakan, Pelaksana,                                                       Policies, Implementers,
dan Kriteria Penilaian                                                      and Assessment Criteria
Penilaian kinerja Direksi dan organ pendukung di bawahnya                   The performance assessment of the Board of Directors and its
dilakukan secara mandiri (self-assessment) menggunakan                      supporting organs is carried out independently (self-assessment)
metode balance scorecard pada awal tahun 2024. Setiap anggota               by using the balanced scorecard method in early 2024. Each
Direksi melakukan penilaian ini untuk mengukur dan memantau                 member of the Board of Directors conducts this assessment to
pencapaian kinerja yang telah direncanakan berdasarkan                      measure and monitor the achievement of planned performance
4 kriteria utama, yaitu pencapaian financial, customer value                based on 4 main criteria, namely financial achievement, customer
proportion, internal business process, dan strategic capital.               value proportion, internal business process, and strategic capital.
Selain itu, penilaian kinerja Direksi juga didukung oleh metode             In addition, the performance assessment of the Board of Directors
360° feedback, di mana sesama anggota Direksi dan/atau organ                is also supported by the 360° feedback method, where fellow
pendukung dapat memberikan penilaian terhadap anggota                       members of the Board of Directors and/or supporting organs can
Direksi lainnya.                                                            provide assessments of other members of the Board of Directors.


Hasil Penilaian                                                             Assessment Results
Berdasarkan hasil penilaian tahun 2024, Direksi telah                       Based on the 2024 assessment results, the Board of Directors
menjalankan tugas dan tanggung jawabnya dengan baik serta                   carried out its duties and responsibilities properly and achieved
mencapai target yang telah ditetapkan oleh Perseroan.                       the targets set by the Company.



Penilaian Kinerja                                                           Performance Assessment of the
Organ Pendukung Direksi                                                     Board of Directors’ Supporting Organs

Kebijakan, Pelaksana,                                                       Policies, Implementers,
dan Kriteria Penilaian                                                      and Assessment Criteria
Hingga 31 Desember 2024, Perseroan tidak memiliki komite                    Until December 31st, 2024, the Company did not have a committee
di bawah Direksi. Namun, pelaksanaan tugas Direksi didukung                 under the Board of Directors. Nonetheless, the implementation
oleh Sekretaris Perusahaan, Satuan Kerja Audit Internal,                    of the Board of Directors’ duties was supported by the Corporate
dan Manajemen Risiko. Oleh karena itu, Direksi secara rutin                 Secretary, Internal Audit Unit, and Risk Management. Therefore,
mengevaluasi kinerja Sekretaris Perusahaan, Satuan Kerja Audit              the Board of Directors routinely evaluates the performance of the
Internal, dan Manajemen Risiko menggunakan kriteria yang sama               Corporate Secretary, Internal Audit Unit, and Risk Management
seperti dalam penilaian kinerja Direksi.                                    by using the same criteria as that of the Board of Directors’
                                                                            performance assessment.




 98        PT Golden Energy Mines Tbk
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                                                                                                                     Corporate Governance




Hasil Penilaian                                                     Assessment Results
Hasil penilaian kinerja tahun 2024 menunjukkan bahwa Sekretaris     The 2024 performance assessment results show that the
Perusahaan, Satuan Kerja Audit Internal, dan Manajemen Risiko       Corporate Secretary, Internal Audit Unit, and Risk Management
telah menjalankan tugas dan tanggung jawabnya sebagai organ         carried out their duties and responsibilities effectively as the
pendukung Direksi secara efektif. Sekretaris Perusahaan telah       Board of Directors’ supporting organs. The Corporate Secretary
berhasil mengelola komunikasi antara pihak internal dan eksternal   succeeded in managing communication between internal and
serta mengadministrasikan dokumen-dokumen perusahaan.               external parties and administering company documents. The
Satuan Kerja Audit Internal telah menilai dan meningkatkan          Internal Audit Unit assessed and improved the effectiveness of
efektivitas pengendalian internal, manajemen risiko, dan proses     internal control, risk management, and corporate governance
tata kelola perusahaan. Sementara itu, Manajemen Risiko             processes. Meanwhile, Risk Management assisted the Board
telah membantu Direksi dalam mengimplementasikan strategi           of Directors in implementing risk management strategies and
pengelolaan dan langkah-langkah mitigasi risiko.                    mitigation measures.




Remunerasi Dewan Komisaris dan Direksi
Remuneration of Board of Commissioners and Board of Directors


Prosedur dan Dasar                                                  Procedure and Basis
Penetapan Remunerasi                                                in Determining Remuneration

Pemberian remunerasi bagi Dewan Komisaris dan Direksi               The remuneration of the Board of Commissioners and the
ditetapkan oleh Direksi sesuai wewenang yang diberikan oleh         Board of Directors is determined by the Board of Directors in
Pemegang Saham dalam RUPS, berpedoman pada Pasal 113                accordance with the authority granted by the Shareholders in the
Undang-Undang No. 40 Tahun 2007 tentang Perseroan. Besaran          GMS, guided by Article 113 of Law No. 40 of 2007 on Limited
remunerasi ditentukan dengan mempertimbangkan beberapa              Liability Companies. The remuneration amount is determined by
faktor berikut.                                                     considering the following factors.
1. Kondisi keuangan Perseroan.                                      1. Financial condition of the Company.
2. Besaran remunerasi yang berlaku di industri sejenis.             2. Remuneration amounts applicable in similar industries.
3. Kesesuaian antara tugas, tanggung jawab, pengalaman,             3. Conformity between duties, responsibilities, experience,
    pengetahuan, dan keahlian yang diberikan kepada Perseroan.          knowledge, and expertise provided to the Company.
4. Hasil penilaian kinerja.                                         4. Performance assessment results.



Struktur dan Besaran Remunerasi                                     Remuneration Structure and Amount

Pada tahun 2024, total remunerasi yang diberikan kepada Dewan       In 2024, the total remuneration given to the Company’s Board
Komisaris dan Direksi Perseroan mencapai USD4.835.132.              of Commissioners and Board of Directors reached USD4,835,132.
Remunerasi ini terdiri dari gaji pokok, bonus tahunan, insentif     This remuneration consists of basic salary, annual bonus,
khusus, dan tunjangan hari raya (THR). Namun, Komisaris             special incentives, and holiday allowances (THR). However, for
Independen, remunerasi hanya mencakup gaji pokok dan                Independent Commissioners, remuneration only includes basic
tunjangan hari raya (THR).                                          salary and holiday allowances (THR).


Selain itu, anggota Dewan Komisaris dan Direksi berhak atas         Furthermore, members of the Board of Commissioners and
penggantian biaya wajar yang dikeluarkan selama menjalankan         Board of Directors are entitled to reimbursement of reasonable
tugas. Perseroan tidak memiliki kebijakan untuk memberikan          expenses incurred while carrying out their duties. The Company
pinjaman kepada anggota Dewan Komisaris atau Direksi,               does not have a policy to provide loans to members of the Board
sehingga tidak ada anggota Dewan Komisaris maupun Direksi           of Commissioners or Board of Directors, and thus, no members of
yang menerima pinjaman dari Perseroan selama tahun 2024.            the Board of Commissioners or Board of Directors received loans
                                                                    from the Company throughout 2024.




                                                                                             Laporan Tahunan 2024 Annual Report    99
Page 102
Tata Kelola Perusahaan




Komite Audit
Audit Committee


Komite Audit berperan penting dalam menjaga integritas                         The Audit Committee plays an important role in maintaining the
dan transparansi Perseroan. Sebagai organ pendukung                            Company’s integrity and transparency. As a supporting organ
Dewan Komisaris, komite ini bertanggung jawab dalam                            of the Board of Commissioners, this committee is responsible
mengawasi dan memastikan bahwa proses pelaporan keuangan                       for supervising and ensuring that the financial reporting process
serta sistem pengendalian internal telah dilakukan secara tepat                and internal control system have been carried out properly and
dan sesuai dengan peraturan yang berlaku.                                      in accordance with applicable regulations.



Pedoman Kerja                                                                  Charter

Komite Audit menjalankan tugas dan tanggung jawab sesuai                       The Audit Committee carries out its duties and responsibilities
Piagam Komite Audit yang disahkan pada 30 Oktober 2012.                        in accordance with the Audit Committee Charter, which
Piagam ini ditinjau secara berkala, dengan pembaruan terakhir                  was ratified on October 30th, 2012. This charter is reviewed
pada 30 Mei 2022, dan telah dipublikasikan di situs web Perseroan              periodically, of which its last update was on May 30th, 2022, and
pada laman Tata Kelola Perusahaan.                                             has been published on the Company’s website on the Corporate
                                                                               Governance page.



Komposisi dan Masa Jabatan                                                     Composition and Service Period

Berdasarkan pedoman kerja, anggota Komite Audit berjumlah                      Based on the charter, the Audit Committee has 3 members,
3 orang yang terdiri atas Komisaris Independen dan pihak                       consisting of Independent Commissioners and independent
independen. Pada tahun 2024, susunan Komite Audit Perseroan                    parties. In 2024, the composition of the Company’s Audit
terdiri dari:                                                                  Committee was as follows:
Ketua Komite Audit    : Dr. Ir. Bambang Setiawan                               Chairman of Audit Committee : Dr. Ir. Bambang Setiawan
Anggota Komite Audit : Ketut Sanjaya                                           Member of Audit Committee : Ketut Sanjaya
Anggota Komite Audit : Prof. Dr. Ir. Irwandy Arif, MSc                         Member of Audit Committee : Prof. Dr. Ir. Irwandy Arif, MSc


Profil masing-masing anggota Komite Audit diungkapkan pada                     Profile of each Audit Committee member is disclosed in the Audit
Profil Komite Audit bab Profil Perusahaan dalam Laporan                        Committee’s Profile section, Company Profile chapter of this
Tahunan ini.                                                                   Annual Report.



Independensi                                                                   Independency

Komite Audit Perseroan menjalankan tugas dan tanggung jawab                    The Company’s Audit Committee carries out its duties and
secara independen untuk menghindari konflik kepentingan,                       responsibilities independently to avoid conflicts of interest,
menciptakan pengawasan yang efektif, dan mematuhi hukum                        create effective supervision, and comply with laws and
serta regulasi. Komitmen ini tercermin dalam pemenuhan aspek                   regulations. This commitment is reflected in the fulfillment of
independensi berikut.                                                          the following independence aspects.


                                    Aspek Independensi                                   Dr. Ir. Bambang    Ketut      Prof. Dr. Ir. Irwandy
                                   Independency Aspect                                      Setiawan       Sanjaya           Arif, MSc

Tidak memiliki hubungan keuangan dengan Dewan Komisaris dan Direksi.
Has no financial relationship with the Board of Commissioners and Board of Directors.
Tidak memiliki hubungan kepengurusan dengan Dewan Komisaris dan Direksi.
Has no management relationship with the Board of Commissioners and Board of Directors.
Tidak memiliki hubungan kepemilikan saham di Perseroan.
Has no share ownership relationship in the Company.
Tidak memiliki hubungan keluarga dengan Dewan Komisaris, Direksi, dan/atau sesama
anggota Komite Audit.
Has no family relationship with the Board of Commissioners, Board of Directors, and/or
fellow members of the Audit Committee.
 = Terpenuhi / Fulfilled |   = Tidak Terpenuhi / Not Fulfilled




100          PT Golden Energy Mines Tbk
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                                                                                                                                  Corporate Governance




Tugas dan Tanggung Jawab
Duties and Responsibilities

           Tugas dan Tanggung Jawab                                                  Realisasi Program Kerja 2024
           Duties and Responsibilities                                              2024 Work Program Realization

Melakukan penelaahan atas informasi keuangan                 Selama tahun 2024, Komite Audit secara berkala telah melakukan penelaahan
yang akan dikeluarkan Perseroan kepada publik                atas Laporan Keuangan Perseroan setiap triwulan dalam rapat dengan
dan/atau pihak otoritas, antara lain Laporan Keuangan,       Direksi dan Dewan Komisaris Perseroan pada 28 Februari 2024, 27 Mei 2024,
proyeksi, dan laporan lainnya terkait dengan informasi       20 Agustus 2024, dan 21 November 2024. Komite Audit juga telah melakukan
keuangan Perseroan.                                          penelaahan atas Laporan Keuangan Perseroan untuk periode yang berakhir pada
                                                             31 Desember 2024 pada tanggal 26 Februari 2025.
Reviewing the financial information to be issued by the      Throughout 2024, the Audit Committee periodically reviewed the Company’s Financial
Company to public and/or the authorities, among others,      Statements every quarter in meetings with the Company’s Board of Directors and Board
Financial Statements, projections, and other reports         of Commissioners on February 28th, 2024, August 20th, 2024, and November 21st, 2024.
related to the financial information of the Company.         The Audit Committee also reviewed the Company’s Financial Statements for the period
                                                             ending December 31st, 2024, on February 26th, 2025.

Melakukan penelaahan atas ketaatan terhadap peraturan        Komite Audit secara berkala telah melakukan penelaahan atas ketaatan Perseroan
perundang-undangan yang berhubungan dengan kegiatan          terhadap peraturan perundang-undangan terkait.
Perseroan.
Reviewing the compliance with the laws and regulations       The Audit Committee periodically reviewed the Company’s compliance with the relevant
related to the Company’s activities.                         laws and regulations.

Memberikan pendapat independen dalam hal terjadi             Selama tahun 2024, tidak terdapat perbedaan pendapat antara manajemen dan akuntan
perbedaan pendapat antara manajemen dan akuntan atas         atas jasa yang diberikannya yang memerlukan pendapat independen dari Komite Audit.
jasa yang diberikannya.
Providing independent opinion in the event of a dissenting   Throughout 2024, there was no dissenting opinion between the management and the
opinion between the management and the accountant for        accountant for the services provided that require independent opinion from the Audit
the services provided.                                       Committee.

Memberikan rekomendasi kepada Dewan Komisaris                Komite Audit telah memberikan rekomendasi kepada Dewan Komisaris mengenai
mengenai penunjukan akuntan yang didasarkan pada             penunjukan Ibu Maria Leckzinska sebagai Akuntan Publik dari Kantor Akuntan Publik
independensi, ruang lingkup penugasan, dan imbalan jasa.     Mirawati Sensi Idris yang akan melaksanakan proses audit atas Laporan Keuangan
                                                             Perseroan untuk tahun buku yang berakhir pada 31 Desember 2024 yang didasarkan
                                                             pada independensi, ruang lingkup penugasan, dan imbalan jasa pada 7 Mei 2024.
                                                             Rekomendasi tersebut juga didasari pada Laporan Hasil Evaluasi Komite Audit kepada
                                                             Dewan Komisaris atas pelaksanaan proses audit Laporan Keuangan Tahunan Perseroan
                                                             tahun sebelumnya pada 3 Juni 2024.

                                                             Laporan Penunjukan Akuntan Publik dan Kantor Akuntan Publik untuk Laporan
                                                             Keuangan Tahunan Perseroan untuk tahun buku yang berakhir pada 31 Desember 2024
                                                             telah disampaikan kepada Otoritas Jasa Keuangan pada 17 Juli 2024.

Providing recommendations to the Board of Commissioners      The Audit Committee provided recommendations to the Board of Commissioners on the
on the appointment of accountant based on independency,      appointment of Ms. Maria Leckzinska as a Public Accountant from Mirawati Sensi Idris
assignment scope, and service fees.                          Public Accounting Firm who will carry out the audit process of the Company’s Financial
                                                             Statements for the financial year ended December 31st, 2024, based on independence,
                                                             assignment scope, and service fees on May 7th, 2024. The recommendation is also based
                                                             on the Audit Committee’s Evaluation Result Report to the Board of Commissioners on
                                                             the audit process of the Company’s Annual Financial Statements for the previous year
                                                             on June 3rd, 2024.

                                                             The Report on Appointment of Public Accountants and Public Accounting Firm for the
                                                             Company’s Annual Financial Statements for the financial year ended December 31st, 2024,
                                                             was submitted to the Financial Services Authority on July 17th, 2024.

Melakukan penelaahan atas pelaksanaan pemeriksaan            Komite Audit telah melaksanakan penelaahan atas pelaksanaan pemeriksaan oleh
oleh auditor internal dan mengawasi pelaksanaan tindak       auditor internal dan mengawasi pelaksanaan tindak lanjut oleh Direksi atas temuan
lanjut oleh Direksi atas temuan auditor internal.            auditor tersebut setiap triwulan dalam rapat Komite Audit.
Conducting review on the implementation of audits by the     The Audit Committee reviewed the audit performed by the internal auditors and
internal auditor and supervising the implementation of the   supervised the follow-up actions taken by the Board of Directors on the auditors’
follow-up by the Board of Directors on the findings of the   findings every quarter in the Audit Committee’s meetings.
internal auditor.

Melakukan penelaahan terhadap aktivitas pelaksanaan          Komite Audit telah melakukan penelaahan terbatas terhadap aktivitas pelaksanaan
manajemen risiko yang dilakukan oleh Direksi, jika           manajemen risiko yang dilakukan oleh Kepala Manajemen Risiko Korporat yang dilakukan
Perseroan tidak memiliki fungsi pemantau risiko di bawah     setiap triwulan dalam rapat Komite Audit.
Dewan Komisaris.
Reviewing the risk management carried out by the Board       The Audit Committee has conducted a limited review of the risk management
of Directors, in the event the Company do not have risk      implementation activities carried out by the Head of Corporate Risk Management which
monitoring function under the Board of Commissioners.        is conducted quarterly at the Audit Committee’s meetings.

Menelaah pengaduan yang berkaitan dengan proses              Selama tahun 2024, tidak terdapat pengaduan yang berkaitan dengan proses akuntansi
akuntansi dan pelaporan keuangan Perseroan.                  dan pelaporan keuangan.
Reviewing complaints related to the accounting process       Throughout 2024, there were no complaints related to the accounting process and
and financial reporting of the Company.                      financial reporting.




                                                                                                          Laporan Tahunan 2024 Annual Report   101
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Tata Kelola Perusahaan




            Tugas dan Tanggung Jawab                                                 Realisasi Program Kerja 2024
            Duties and Responsibilities                                             2024 Work Program Realization

 Menelaah dan memberikan saran kepada Dewan Komisaris         Selama tahun 2024, Komite Audit telah menelaah dan tidak menemukan adanya potensi
 terkait dengan adanya potensi benturan kepentingan           benturan kepentingan.
 Perseroan.
 Reviewing and providing recommendations to the Board of      Throughout 2024, the Audit Committee reviewed and did not find any conflicts
 Commissioners related to potential conflict of interest of   of interest.
 the Company.

 Menjaga kerahasiaan dokumen, data, dan informasi             Komite Audit selalu menjaga kerahasiaan dokumen, data, dan informasi Perseroan.
 Perseroan.
 Keeping the confidentiality of documents, data, and          The Audit Committee always maintains the confidentiality of the Company’s documents,
 information of the Company.                                  data, and information.




Wewenang                                                                       Authority

Selain melaksanakan tugas dan tanggung jawab, Komite Audit                     In addition to carrying out its duties and responsibilities, the
juga memiliki wewenang yang diatur dalam Piagam Komite                         Audit Committee also has authorities as stipulated in the Audit
Audit. Sepanjang tahun 2024, Komite Audit menjalankan                          Committee Charter. Throughout 2024, the Audit Committee
wewenang tersebut dengan baik dan penuh tanggung jawab,                        carried out these authorities properly and responsibly, without
tanpa menghadapi kendala atau intervensi dari pihak mana pun.                  facing obstacles or intervention from any party. These authorities
Wewenang ini mencakup:                                                         include:
1. Mengakses dokumen, data, dan informasi Perseroan tentang                    1. Accessing the Company’s documents, data, and information
    karyawan, dana, aset, dan sumber daya perusahaan yang                          regarding employees, funds, assets, and company resources
    diperlukan;                                                                    as needed;
2. Berkomunikasi langsung dengan karyawan, termasuk                            2. Communicating directly with employees, including the Board
    Direksi dan pihak yang menjalankan fungsi audit internal,                      of Directors and parties carrying out internal audit, risk
    manajemen risiko, dan akuntan terkait tugas dan tanggung                       management, and accounting functions regarding the duties
    jawab Komite Audit;                                                            and responsibilities of the Audit Committee;
3. Melibatkan pihak independen di luar anggota Komite Audit                    3. Involving independent parties outside the Audit Committee
    yang diperlukan untuk membantu pelaksanaan tugasnya (jika                      members as needed to assist in carrying out its duties
    diperlukan); serta                                                             (if necessary); and
4. Melakukan kewenangan lain yang diberikan oleh Dewan                         4. Carrying out other authorities granted by the Board of
    Komisaris.                                                                     Commissioners.



Rapat                                                                          Meeting

Rapat Komite Audit wajib dilaksanakan setidaknya 1 kali dalam                  Audit Committee meetings must be held at least once every
3 bulan. Pada tahun 2024, Komite Audit telah melaksanakan                      3 months. In 2024, the Audit Committee held 5 internal meetings,
rapat internal sebanyak 5 kali dengan tingkat kehadiran sebagai                with the following attendance levels.
berikut.


                                                                                              Kehadiran Peserta Rapat
                                                                                           Meeting Participants’ Attendance
    Tanggal Rapat                         Agenda Rapat
    Meeting Dates                        Meeting Agenda
                                                                              Dr. Ir. Bambang       Prof. Dr. Ir. Irwandy           Ketut
                                                                                 Setiawan                 Arif, MSc                Sanjaya

                            •   Laporan Q4 2023 Internal Audit; dan
 28 Februari 2024           •   Laporan Q4 2023 Manajemen Risiko.
 February 28th, 2024        •   Q4 2023 Internal Audit Report; and
                            •   Q4 2023 Risk Management Report.

                            • Evaluasi Akuntan Publik dan Kantor
                              Akuntan Publik 2023; dan
                            • Rekomendasi Akuntan Publik dan Kantor
 7 Mei 2024                   Akuntan Publik 2024.
 May 7th, 2024              • Evaluation of Public Accountant and Public
                              Accounting Firm 2023; and
                            • Recommendations for Public Accountant
                              and Public Accounting Firm 2024.




102        PT Golden Energy Mines Tbk
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                                                                                                                            Corporate Governance




                                                                                         Kehadiran Peserta Rapat
                                                                                      Meeting Participants’ Attendance
    Tanggal Rapat                         Agenda Rapat
    Meeting Dates                        Meeting Agenda
                                                                         Dr. Ir. Bambang      Prof. Dr. Ir. Irwandy              Ketut
                                                                            Setiawan                Arif, MSc                   Sanjaya

                            •   Laporan Q1 2024 Internal Audit; dan
 27 Mei 2024                •   Laporan Q1 2024 Manajemen Risiko.
 May 27th, 2024             •   Q1 2024 Internal Audit Report; and
                            •   Q1 2024 Risk Management Report.

                            •   Laporan Q2 2024 Internal Audit; dan
 20 Agustus 2024            •   Laporan Q2 2024 Manajemen Risiko.
 August 20, 2024            •   Q2 2024 Internal Audit Report; and
                            •   Q2 2024 Risk Management Report.

                            •   Laporan Q3 2024 Internal Audit; dan
 21 November 2024           •   Laporan Q3 2024 Manajemen Risiko.
 November 21st, 2024        •   Q3 2024 Internal Audit Report; and
                            •   Q3 2024 Risk Management Report.

 Jumlah Rapat
                                                                                5                         5                          5
 Number of Meetings

 Persentase Kehadiran
                                                                             100.00                    100.00                     100.00
 Attendance Percentage (%)




Pengembangan Kompetensi                                                  Competency Development

Program kompetensi untuk Komite Audit disarankan dilakukan               The competency program for the Audit Committee is
setidaknya sekali dalam setahun. Program ini bertujuan                   recommended to be conducted at least once a year. This program
untuk meningkatkan kemampuan dalam pengawasan audit,                     aims to improve the ability in audit supervision, decision-making,
pengambilan keputusan, komunikasi, dan penanganan konflik.               communication, and conflict management.


Informasi mengenai pengembangan kompetensi yang diikuti oleh             Information on the competency development attended by
Dr. Ir. Bambang Setiawan (Ketua Komite Audit) dan Ketut Sanjaya          Dr. Ir. Bambang Setiawan (Chairman of Audit Committee) and
(Anggota Komite Audit) pada tahun 2024 telah diungkapkan                 Ketut Sanjaya (Member of Audit Committee) in 2024 is disclosed
pada bagian Pengembangan Kompetensi Dewan Komisaris.                     in the Board of Commissioners’ Competency Development
                                                                         section.


                                                                                       Tempat dan Waktu
                                                                                                                        Penyelenggara
    Nama               Jabatan                         Topik Pelatihan                      Pelatihan
                                                                                                                           Pelatihan
    Name               Position                         Training Topic                  Places and Time
                                                                                                                      Training Organizer
                                                                                           of Training

 Prof. Dr. Ir.    Anggota Komite Audit                                                          Bali,
                                                                                                                    Coaltrans dan Fastmarkets
 Irwandy          Member of Audit         Coaltrans Asia 2024                           9-10 September 2024
                                                                                                                    Coaltrans and Fastmarkets
 Arif, MSc        Committee                                                            September 9th-10th, 2024




Fungsi Nominasi dan Remunerasi
Nomination and Remuneration Function

Perseroan belum memiliki komite khusus yang menjalankan                  The Company does not yet have a specific committee that
Fungsi Nominasi dan Remunerasi dengan mempertimbangkan                   carries out the Nomination and Remuneration Function with
efektivitas dan efisiensi, serta kompleksitas usaha. Saat ini,           due observance of the effectiveness and efficiency, as well as
tugas-tugas tersebut dilaksanakan oleh Dewan Komisaris yang              the business complexity. Currently, these duties are carried
senantiasa memastikan bahwa proses nominasi dilakukan                    out by the Board of Commissioners who always ensure that
secara adil dan transparan, serta struktur remunerasi ditetapkan         the nomination process is carried out fairly and transparently,
sesuai ketentuan yang berlaku. Pelaksanaan tugas ini mengikuti           and the remuneration structure is determined in accordance
Pasal 11 Peraturan Otoritas Jasa Keuangan No. 34/POJK.04/2014            with applicable provisions. The implementation of these duties
tentang Komite Nominasi dan Remunerasi Emiten atau                       follows Article 11 of the Financial Services Authority Regulation
Perusahaan Publik.                                                       No. 34/POJK.04/2014 on the Nomination and Remuneration
                                                                         Committee of Issuers or Public Companies.

                                                                                                    Laporan Tahunan 2024 Annual Report     103
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Tata Kelola Perusahaan




Tugas dan Tanggung Jawab                                        Duties and Responsibilities

Tugas dan tanggung jawab Dewan Komisaris terkait Fungsi         The Board of Commissioners’ duties and responsibilities
Nominasi dan Remunerasi diuraikan sebagai berikut.              regarding Nomination and Remuneration Functions are described
                                                                as follows.
1. Fungsi Nominasi                                              1. Nomination Function
   a. Menyusun komposisi dan proses nominasi anggota                 a. Prepare the composition and nomination process
      Dewan Komisaris dan/atau anggota Direksi;                          for members of the Board of Commissioners and/or
                                                                         members of the Board of Directors;
    b.   Menyusun kebijakan dan kriteria yang dibutuhkan             b. Prepare the policy and criteria required in the nomination
         dalam proses nominasi calon anggota Dewan Komisaris             process of candidates for the Board of Commissioners
         dan/atau anggota Direksi;                                       and/or the Board of Directors;
    c.   Membantu pelaksanaan evaluasi atas kinerja anggota          c. Assist the implementation of evaluation on the
         Dewan Komisaris dan/atau anggota Direksi;                       performance of members of the Board of Commissioners
                                                                         and/or the Board of Directors;
    d. Menyusun program pengembangan kemampuan anggota               d. Prepare the competency development programs
       Dewan Komisaris dan/atau anggota Direksi; serta                   for members of the Board of Commissioners and/or
                                                                         members of the Board of Directors; and
    e.Menelaah dan mengusulkan calon yang memenuhi syarat            e. Review and propose candidates who meet the
      sebagai anggota Dewan Komisaris dan/atau anggota                   requirements as members of the Board of Commissioners
      Direksi kepada Dewan Komisaris untuk disampaikan                   and/or the Board of Directors to the Board of
      kepada RUPS.                                                       Commissioners to be submitted to the GMS.
2. Fungsi Remunerasi                                            2. Remuneration Function
   a. Menyusun     struktur  remunerasi    bagi anggota              a. Prepare the remuneration structure for members of the
      Dewan Komisaris dan/atau anggota Direksi;                          Board of Commissioners and/or members of the Board of
                                                                         Directors;
    b.   Menyusun kebijakan atas remunerasi bagi anggota             b. Prepare the remuneration policy for members of Board
         Dewan Komisaris dan/atau anggota Direksi; serta                 of Commissioners and/or members of the Board of
                                                                         Directors; and
    c.   Memberikan rekomendasi kepada Direksi Perseroan             c. Provide recommendations to the Company’s Board of
         untuk menentukan remunerasi anggota Dewan Komisaris             Directors to determine the remuneration of members of
         dan Direksi.                                                    the Board of Commissioners and Board of Directors.



Rapat                                                           Meeting

Pada tahun 2024, rapat Dewan Komisaris yang berhubungan         In 2024, the Board of Commissioners’ meeting related to the
dengan Fungsi Nominasi dan Remunerasi diselenggarakan pada      Nomination and Remuneration Function was held on May 7th,
7 Mei 2024 dan 27 Mei 2024.                                     2024 and May 27th, 2024.



Prosedur Nominasi Dewan Komisaris                               The Nomination Procedure of the Board
dan Direksi                                                     of Commissioners and Board of Directors

Dewan Komisaris bertanggung jawab atas prosedur nominasi        The Board of Commissioners is responsible for the nomination
anggota Dewan Komisaris dan Direksi dengan memberikan           procedure for members of the Board of Commissioners and the
rekomendasi kandidat melalui rapat internal. Kandidat yang      Board of Directors by providing candidate recommendations
memenuhi persyaratan kemudian diajukan kepada Pemegang          through internal meetings. Candidates who meet the
Saham untuk mendapatkan persetujuan dan pengesahan dalam        requirements are then proposed to the Shareholders for approval
RUPS.                                                           and ratification at the GMS.



Kebijakan Suksesi Dewan Komisaris                               Succession Policy of the Board of
dan Direksi                                                     Commissioners and Board of Directors

Kebijakan Suksesi Dewan Komisaris dan Direksi dirancang untuk   The Board of Commissioners and Board of Directors Succession
memastikan kelancaran proses penggantian dan peralihan          Policy is designed to ensure a smooth process of replacement and
posisi dalam Dewan Komisaris dan Direksi Perseroan. Kebijakan   transition of positions in the Company’s Board of Commissioners
tersebut diuraikan sebagai berikut.                             and Board of Directors. The policy is described as follows.


104        PT Golden Energy Mines Tbk
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                                                                                                                  Corporate Governance




1. Anggota Dewan Komisaris dan/atau Direksi diangkat oleh        1. Members of Board of Commissioners and/or Board of
   RUPS untuk jangka waktu yang dimulai sejak tanggal               Directors shall be appointed by the GMS for a term of office
   yang ditetapkan dalam RUPS yang mengangkat anggota               beginning on the date specified in the GMS, which appoints
   Dewan Komisaris dan/atau Direksi tersebut sampai dengan          the members of the Board of Commissioners and/or Board of
   ditutupnya RUPS Tahunan yang kelima yang diselenggarakan         Directors until the closing of the fifth Annual GMS held after
   setelah RUPS tersebut.                                           the GMS.
2. Anggota Dewan Komisaris dan/atau Direksi yang masa            2. Members of Board of Commissioners and/or Board of
   jabatannya telah berakhir dapat diangkat kembali melalui         Directors, whose term of office has ended can be reappointed
   persetujuan RUPS.                                                through the approval of the GMS.
3. RUPS dapat memberhentikan anggota Dewan Komisaris             3. The GMS can terminate members of Board of Commissioners
   dan/atau Direksi pada setiap waktu sebelum masa                  and/ or Board of Directors at any time before their office term
   jabatannya berakhir.                                             ends.
4. Anggota Dewan Komisaris dan/atau Direksi berhak               4. Members of Board of Commissioners and/or Board of
   mengundurkan diri dari jabatannya dengan memenuhi                Directors have the right to resign from their position by
   ketentuan dalam Anggaran Dasar Perseroan.                        fulfilling the provision in the Articles of Association of the
                                                                    Company.
5. Jabatan anggota Dewan Komisaris dan/atau Direksi dengan       5. The term of office of members of the Board of Commissioners
   sendirinya berakhir jika yang bersangkutan:                      and/or Board of Directors automatically ends if the person
                                                                    concerned is:
   a.  Dinyatakan pailit atau dinyatakan berada di bawah            a. Declared bankrupt or under custody based on a court
       pengampunan berdasarkan keputusan pengadilan;                     decision;
   b. Tidak lagi memenuhi persyaratan perundang-undangan            b. No longer meets the requirements of the applicable laws
       yang berlaku;                                                     and regulations;
   c. Meninggal dunia;                                              c. Passed away;
   d. Diberhentikan berdasarkan keputusan RUPS;                     d. Terminated based on the GMS Resolution;
   e. Mengundurkan diri sesuai dengan ketentuan Anggaran            e. Resigned in accordance with the provision of the
       Dasar Perseroan; serta                                            Company’s Articles of Association; and
   f. Masa jabatan berakhir.                                        f. The term of office is over.
6. Tata cara pengangkatan, penggantian, pemberhentian,           6. Procedure for the appointment, replacement, termination,
   perubahan atau pengunduran diri anggota Dewan Komisaris          changing, or resignation of members of Board of
   dan/atau Direksi sesuai dengan Anggaran Dasar Perseroan.         Commissioners and/or Board of Directors shall be in
                                                                    accordance with the Company’s Articles of Association.
7. Usulan    pengangkatan,       pemberhentian,  dan/atau        7. Proposal for appointment, termination, and/or replacement
   penggantian anggota Dewan Komisaris dan/atau Direksi             of members of the Board of Commissioners and/or
   kepada RUPS perlu memperhatikan rekomendasi dari rapat           Board of Directors to the GMS needs to pay attention
   Dewan Komisaris yang mengagendakan nominasi. Dalam hal           to the recommendation from the meeting of Board of
   anggota Dewan Komisaris memiliki benturan kepentingan            Commissioners, which has agenda on nomination. In the
   dengan usulan yang direkomendasikan, maka benturan               event the members of the Board of Commissioners have
   kepentingan tersebut wajib diungkapkan.                          conflicts of interest with the recommended proposal, then
                                                                    the conflicts of interest must be disclosed.



Pelaksanaan Fungsi Nominasi                                      Implementation of Nomination and
dan Remunerasi                                                   Remuneration Function

Fungsi Nominasi dan Remunerasi oleh Dewan Komisaris telah        The Nomination and Remuneration Function by the Board of
dilaksanakan dalam rapat internal pada 7 Mei 2024 dan 27 Mei     Commissioners has been implemented in an internal meeting on
2024. Rincian pelaksanaannya telah diungkapkan dalam Realisasi   May 7th, 2024 and May 27th, 2024. Details of its implementation
Program Kerja Dewan Komisaris 2024.                              have been disclosed in the Realization of the Board of
                                                                 Commissioners’ Work Program 2024.




                                                                                          Laporan Tahunan 2024 Annual Report   105
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Tata Kelola Perusahaan




Sekretaris Perusahaan
Corporate Secretary



Sekretaris Perusahaan berperan penting sebagai penghubung                        The Corporate Secretary plays an important role as a liaison
antara Perseroan dengan pemangku kepentingan, serta                              between the Company and stakeholders, as well as ensuring
memastikan kepatuhan terhadap undang-undang yang berlaku.                        compliance with applicable laws. This organ is also responsible
Organ ini juga bertanggung jawab dalam pengelolaan dokumen                       for managing documents in an organized manner to meet the
secara terorganisir untuk memenuhi kebutuhan administratif                       Company’s administrative needs.
Perseroan.



Pedoman Kerja                                                                    Charter

Tugas    dan    tanggung   jawab    Sekretaris   Perusahaan                      The duties and responsibilities of Corporate Secretary are carried
dilaksanakan sesuai dengan Peraturan Otoritas Jasa Keuangan                      out in accordance with Financial Services Authority Regulation
No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten                         No. 35/POJK.04/2014 on Corporate Secretary of Issuers or Public
atau Perusahaan Publik.                                                          Companies.



Profil Sekretaris Perusahaan                                                     Profile of Corporate Secretary

Sekretaris Perusahaan diangkat dan diberhentikan berdasarkan                     The Corporate Secretary is appointed and dismissed based on
Keputusan Direksi. Berikut informasi mengenai Profil Sekretaris                  the Board of Directors’ Decision. The following is information
Perusahaan.                                                                      regarding the Corporate Secretary’s Profile.




                                                                                     Pengalaman Kerja / Work Experience
                                                                                 • Associate Lawyer Law Firm Dermawan & Co (1996-1997);
     Sudin SH                                                                    • Senior Legal Officer Salim Group (1997-2003); dan
     Sekretaris Perusahaan                                                       • Senior Legal Manager PT Batamindo Investment Cakrawala (2003-2007).
     Corporate Secretary                                                         • Associate Lawyer of Law Firm Dermawan & Co (1996-1997);
                                                                                 • Senior Legal Officer of Salim Group (1997-2003); and
                                                                                 • Senior Legal Manager of PT Batamindo Investment Cakrawala (2003-2007).

     Warga Negara Indonesia                                                          Rangkap Jabatan / Concurrent Positions
     Indonesian Citizen                                                          Head Corporate Legal Department Sinarmas Mining (sejak 2007).
     55 tahun                                                                    Head Corporate Legal Department Sinarmas Mining (since 2007).
     55 years old                                                                    Keanggotaan Asosiasi / Association Membership
     Jakarta
                                                                                 •    Anggota Indonesia Corporate Secretary Association (sejak 2015); dan
                                                                                 •    Komite Kajian Hukum Pasar Modal & GCG Asosiasi Emiten Indonesia (AEI)
                                                                                      (sejak 2023).
                                                                                 •    Member of Indonesian Corporate Secretary (since 2015); and
    Periode dan Dasar Pengangkatan / Office Term and Appointment Basis           •    Capital Market & GCG Legal Review Committee of the Indonesian Public Listed
•    2011-2016: Surat Keputusan Direksi tanggal 23 November 2011;                     Companies Association (AEI) (since 2023).
•    2016-2021: Surat Keputusan Direksi tanggal 14 November 2016; dan                Keahlian / Expertise
•    2021-2026: Surat Keputusan Direksi tanggal 12 November 2021.
•    2011-2016: Decision of the Board of Directors on November 23rd, 2011;       Hukum dan GCG.
•    2016-2021: Decision of the Board of Directors on November 14th, 2016; and   Law and GCG.
•    2021-2026: Decision of the Board of Directors on November 12th, 2021.
    Riwayat Pendidikan / Educational
• Sarjana Hukum, Universitas Indonesia (1995); dan
• Master Hukum, Universitas Pelita Harapan (2005).
• Bachelor of Law, Universitas Indonesia (1995); and
• Master of Law, Universitas Pelita Harapan (2005).




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                                                                                                                                  Corporate Governance




Tugas dan Tanggung Jawab
Duties and Responsibilities

           Tugas dan Tanggung Jawab                                                  Realisasi Program Kerja 2024
           Duties and Responsibilities                                             Realization of 2024 Work Program

Mengikuti perkembangan pasar modal, khususnya                 Sekretaris Perusahaan selalu mengikuti perkembangan peraturan perundang-undangan
peraturan perundang-undangan yang berlaku di bidang           di pasar modal dan memastikan jajaran Dewan Komisaris dan Direksi memperbarui
pasar modal.                                                  pengetahuannya terkait peraturan pasar modal, dengan menyosialisasikannya dalam
                                                              rapat Dewan Komisaris dan Direksi Perseroan secara rutin.
To follow capital market development, particularly laws       Corporate Secretary always follows developments in capital market laws and regulations
and regulations applicable in the capital market sector.      and ensures that the Board of Commissioners and Board of Directors update their
                                                              knowledge on capital market regulations, by regularly disseminating the regulations in
                                                              meetings of the Board of Commissioners and Board of Directors of the Company.

Memberikan masukan kepada Direksi dan Dewan Komisaris         Bersamaan dengan pelaksanaan rapat Direksi maupun rapat gabungan Direksi dan
Emiten atau Perusahaan Publik untuk mematuhi ketentuan        Dewan Komisaris, Sekretaris Perusahaan secara berkala memberikan masukan kepada
peraturan perundang-undangan di bidang pasar modal.           Direksi dan Dewan Komisaris untuk mematuhi peraturan perundang-undangan di bidang
                                                              pasar modal termasuk menyampaikan perkembangan terkini perihal peraturan di bidang
                                                              pasar modal.
To provide input to the Board of Directors and Board of       At the same time of the Board of Directors’ meetings and joint meetings of the Board
Commissioners of Issuers or Public Companies to comply        of Directors and Board of Commissioners, Corporate Secretary periodically provides
with laws and regulations in the capital market sector.       input to the Board of Directors and Board of Commissioners to comply with laws and
                                                              regulations in the capital market sector, including providing the latest developments
                                                              regarding regulations in the capital markets sector.

Membantu Direksi dan Dewan Komisaris dalam pelaksanaan        • Secara berkala menyampaikan keterbukaan informasi kepada masyarakat
tata kelola perusahaan, meliputi:                                melalui situs web Bursa Efek Indonesia dan situs web Perseroan di alamat
• Keterbukaan informasi kepada masyarakat, termasuk              www.goldenenergymines.com;
   ketersediaan informasi pada Situs Web Emiten atau          • Menyampaikan laporan kepada Otoritas Jasa Keuangan dan Bursa Efek Indonesia
   Perusahaan Publik;                                            tepat waktu.
• Penyampaian laporan kepada regulator tepat waktu;           • Mengatur:
• Penyelenggaraan dan dokumentasi RUPS; serta                   - Rapat Umum Pemegang Saham Tahunan pada 16 Mei 2024;
• Penyelenggaraan dan dokumentasi rapat Direksi                 - Penyampaian materi Paparan Publik Tahunan kepada masyarakat pada tanggal
   dan/atau Dewan Komisaris serta pelaksanaan program              30 Maret 2024;
   orientasi terhadap perusahaan bagi Direksi dan/atau           dengan memastikan pelaksanaannya sesuai dengan Peraturan yang diwajibkan
   Dewan Komisaris.                                              Otoritas Jasa Keuangan maupun Bursa Efek Indonesia dan telah menyampaikan
                                                                 risalah rapat kepada Bursa dan Otoritas Jasa Keuangan; serta
                                                              • Mengoordinasikan rapat Dewan Komisaris, Direksi dan rapat gabungan Dewan
                                                                 Komisaris dan Direksi, maupun Komite Audit Perseroan dan membuat risalah dari
                                                                 rapat Direksi, Dewan Komisaris dan risalah dari rapat gabungan Dewan Komisaris dan
                                                                 Direksi.
To assist the Board of Directors and Board of Commissioners   • Periodically submitting information disclosure to the public through Indonesia Stock
in implementing corporate governance, including:                 Exchange website and Company website at www.goldenenergymines.com;
• Disclosing information to the public, including the         • Submitting reports to the Financial Services Authority and Indonesia Stock Exchange
    availability of information on Issuer’s or Public            in a timely manner.
    Company’s Website;                                        • Organizing:
• Submitting report to regulators on time;                       - Annual General Meeting of Shareholders on May 16th, 2024;
• Organizing and documenting GMS; and                            - To submit annual public expose' material to public on March 30th, 2024;
• Organizing and documenting meetings of the Board               by ensuring that the implementation is in accordance with the regulations required
    of Directors and/or the Board of Commissioners and           by Financial Services Authority and Indonesian Stock Exchange and has submitted the
    organizing company orientation programs for the              minutes of meetings to the Stock Exchange and Financial and Services Authority; and
    Board of Directors and/or the Board of Commissioners.     • Coordinating meetings of the Board of Commissioners, Board of Directors, and
                                                                 joint meetings of the Board of Commissioners and Board of Directors, as well as the
                                                                 Company’s Audit Committee and preparing minutes of meetings of the Board of
                                                                 Directors, Board of Commissioners, and minutes of joint meetings of the Board of
                                                                 Commissioners and Board of Directors.

Sebagai penghubung antara Perseroan dengan Pemegang           Sekretaris Perusahaan memberikan keterbukaan informasi yang dapat diakses oleh
Saham, regulator, dan pemangku kepentingan lainnya.           seluruh Pemegang Saham, regulator, dan pemangku kepentingan, termasuk memberikan
                                                              jawaban dan/atau tanggapan kepada media.
To be a liaison between the Company and Shareholders,         Corporate Secretary provides information disclosure that can be accessed by all
regulators, and other stakeholders.                           Shareholders, regulators, and stakeholders, including providing answers and/or
                                                              responses to the media.




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Pengembangan Kompetensi                                                  Competency Development

Perseroan memfasilitasi pengembangan kompetensi Sekretaris               The Company facilitates the Corporate Secretary competency
Perusahaan untuk meningkatkan kualitas kerja dan mendukung               development to improve work quality and support careers. This
karier. Program ini direkomendasikan untuk dilaksanakan                  program is recommended to be implemented at least once a year.
setidaknya sekali setahun. Rincian program pengembangan yang             Details of the development programs attended throughout 2024
diikuti selama tahun 2024 disajikan dalam tabel berikut.                 are presented in the following table.


                    Topik Pelatihan                         Tempat dan Waktu Pelatihan                  Penyelenggara Pelatihan
                     Training Topic                          Places and Time of Training                  Training Organizer

                                                                       Jakarta,
 The 2nd Good Corporate Governance International                                                 Indonesia Corporate Secretary Association
                                                                 20-21 Februari 2024
 Conference on ESG                                                                               (ICSA)
                                                                 February 20-21, 2024

                                                                                                 Indonesian Institute for Corporate Directorship
 Sosialisasi Pilar Governansi Etak dan Annual Report
                                                                        Virtual,                 (IICD) & Asosiasi Emiten Indonesia (AEI)
 Award 2023
                                                                      6 Mei 2024                 Indonesian Institute for Corporate Directorship
 Dissemination of Etak Governance Pillars and Annual
                                                                     May 6th, 2024               (IICD) & Indonesian Public Listed Companies
 Report Award 2023
                                                                                                 Association (AEI)

                                                                       Jakarta,                  Asosiasi Emiten Indonesia (AEI)
 Musyawarah Anggota AEI Tahun 2024
                                                                     10 Juni 2024                Indonesian Public Listed Companies
 AEI Members Meeting 2024
                                                                    June 10th, 2024              Association (AEI)

 Rapat Dengar Pendapat RPOJK Tentang Profesi
                                                                        Virtual,
 Penunjang di Sektor Jasa Keuangan                                                               Otoritas Jasa Keuangan (OJK)
                                                                  20 September 2024
 RPOJK Hearing on Supporting Professions in the                                                  Financial Services Authority
                                                                 September 20th, 2024
 Financial Services Sector

 Kesiapan WP Terhadap Implementasi Coretax dalam
 Mendukung Kegiatan Bisnis yang Lebih Efektif dan Efisien               Virtual,                 Asosiasi Emiten Indonesia (AEI)
 Taxpayer Readiness for Coretax Implementation in                   10 Oktober 2024              Indonesian Public Listed Companies
 Supporting More Effective and Efficient Business                  October 10th, 2024            Association (AEI)
 Activities

                                                                        Jakarta,
                                                                                                 Indonesia Corporate Secretary Association
 CG Officer Investor Relations Batch 4                              30 Oktober 2024
                                                                                                 (ICSA)
                                                                   October 30th, 2024

 Risk & Governance Summit (RGS) 2024 “Strengthening                     Virtual,
                                                                                                 Otoritas Jasa Keuangan (OJK)
 the GRC Ecosystem in the Financial Sector to Support the          26 November 2024
                                                                                                 Financial Services Authority
 Golden Indonesia 2045 Vision”                                    November 26th, 2024




Satuan Kerja Audit Internal
Internal Audit Unit



Satuan Kerja Audit Internal adalah unit kerja di Perseroan yang          The Internal Audit Unit is a work unit in the Company that is
bertugas memberikan opini dan konsultasi independen. Tugas               tasked with providing independent opinions and consultations.
ini dilakukan untuk mengevaluasi dan meningkatkan efektivitas            This task is carried out to evaluate and improve the effectiveness
pengendalian internal, manajemen risiko, serta proses tata               of internal control, risk management, and corporate governance
kelola perusahaan.                                                       processes.



Pedoman Kerja                                                            Charter

Satuan Kerja Audit Internal menjalankan tugas dan tanggung               The Internal Audit Unit carries out its duties and responsibilities in
jawab sesuai dengan Piagam Audit Internal yang disahkan pada             accordance with the Internal Audit Charter, which was ratified on
26 September 2011. Piagam tersebut senantiasa ditinjau secara            September 26th, 2011. The charter is regularly reviewed, of which
berkala dengan pembaruan terakhir pada 30 Mei 2022 dan telah             the last update was on May 30th, 2022, and has been published
dipublikasikan di situs web Perseroan pada laman Tata Kelola             on the Company’s website on the Corporate Governance page.
Perusahaan.



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Struktur dan Kedudukan                                                                Structure and Position

Satuan Kerja Audit Internal dipimpin oleh Kepala Satuan Kerja                         The Internal Audit Unit is managed by the Head of Internal Audit
Audit Internal yang bertanggung jawab langsung kepada Presiden                        Unit who reports directly to the President Director and has direct
Direktur dan memiliki akses langsung ke Komite Audit.                                 access to the Audit Committee.

                                                                                                                                Dewan Komisaris
                                                                                                                             Board of Commissioners

                    Komite Audit                                                                                                 Presiden Direktur
                   Audit Committee                                                                                               President Director

                                                                                                                           Satuan Kerja Audit Internal
                                                                                                                               Internal Audit Unit


Per 31 Desember 2024, Perseroan memiliki 9 Auditor Internal,                          As of December 31st, 2024, the Company has 9 Internal Auditors,
termasuk Kepala Satuan Kerja Audit Internal.                                          including the Head of Internal Audit Unit.



Profil Kepala Satuan Kerja Audit Internal                                             Profile of the Head of Internal Audit Unit

Kepala Satuan Kerja Audit Internal diangkat dan diberhentikan                         The Head of Internal Audit Unit is appointed and dismissed
oleh Presiden Direktur dengan persetujuan Dewan Komisaris.                            by the President Director with the approval of the Board of
Berikut adalah Profil Kepala Satuan Kerja Audit Internal                              Commissioners. The following is the Profile of the Company’s
Perseroan.                                                                            Internal Audit Unit Head.

                                                                                       Pengalaman Kerja / Work Experience
                                                                                      • Account Officer PT Aspac General Insurance (1996);
  Dedy Susanto                                                                        • Account Officer Lippo Bank - Regional Office (1996- 1997);
  Kepala Satuan Kerja Audit Internal                                                  • Supervisor Internal Audit PT Kapal Api Group (1998-2001);
  Head of Internal Audit Unit                                                         • Supervisor Internal Audit Kawan Lama Group (2001-Januari 2002); dan
                                                                                      • Manager Controller (Audit) PT Duta Pertiwi Tbk (2002-2008).
                                                                                      • Account Officer PT Aspac General Insurance (1996);
                                                                                      • Account Officer Lippo Bank - Regional Office (1996-1997);
  Warga Negara Indonesia                                                              • Supervisor Internal Audit PT Kapal Api Group (1998-2001);
  Indonesian Citizen                                                                  • Supervisor Internal Audit Kawan Lama Group (2001-January 2002); and
  53 tahun                                                                            • Manager Controller (Audit) PT Duta Pertiwi Tbk (2002-2008).
  53 years old                                                                         Rangkap Jabatan / Concurrent Positions
  Jakarta
                                                                                      Member of Institute of Internal Auditors (sejak 2019).
                                                                                      Member of Institute of Internal Auditors (since 2019).
                                                                                       Keahlian / Expertise
 Periode dan Dasar Pengangkatan / Office Term and Appointment Basis
                                                                                      Akuntansi, Audit, Manajemen, dan Energi.
Sejak 2011 berdasarkan Surat Keputusan Direksi tanggal 16 Agustus 2011.               Accounting, Finance, Management, and Energy.
Since 2011 based on the Decision of the Board of Directors dated August 16th, 2011.
 Riwayat Pendidikan / Educational
Sarjana Ekonomi jurusan Akuntansi, Universitas Tarumanagara (1995).
Bachelor of Economics majoring in Accounting, Tarumanagara University (1995).




Tugas dan Tanggung Jawab                                                              Duties and Responsibilities

Prinsip yang digunakan Satuan Kerja Audit Internal dalam                              The Internal Audit Unit uses the following principles to perform
menjalankan tugas dan tanggung jawab berikut.                                         the duties and responsibilities.
1. Audit Secara Berkala                                                               1. Periodical Audit
    Setiap sektor Perseroan wajib diperiksa paling tidak sekali                           Each Company sector must be audited at least once in a year.
    dalam setahun.
2. Analisa Objektif                                                                   2. Objective Analysis
    Penilaian yang dibuat harus netral dan objektif dengan                               The evaluation made must be neutral and objective,
    didukung oleh data dan fakta. Demikian pula dengan                                   supported by data and facts. Likewise, the opinion expressed
    pandangan yang dikemukakan harus jelas dan terukur.                                  must be clear and measurable. The evaluation shall be based
    Penilaian didasarkan pada aturan internal dan eksternal,                             on the internal and external rules, or in case of a situation
    atau dalam situasi tidak terdapat peraturan yang mengatur,                           with no rules, customary practices are used.
    maka digunakan praktik-praktik yang lazim berlaku.




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3. Audit Kepatuhan pada Kebijakan dan Prosedur                                  3. Compliance Audit on Policies and Procedures
   Auditor harus dapat membedakan antara:                                          Auditor must be able to differentiate between:
   a. Audit atas pelaksanaan ketentuan yang berlaku dan yang                       a. Audit on the implementation of the applicable provisions
       telah ditaati; serta                                                             that have been adhered to; and
   b. Standar kecukupan dan pelaksanaan ketentuan.                                 b. Standards of adequacy and implementation of provisions.
4. Penilaian terhadap Unit dan Bukan Individu                                   4. Evaluation towards Unit and Not Individual
   Pelaksanaan audit meliputi penilaian atas transaksi,                            The audit implementation covers the evaluation on
   pengelolaan operasional, dan pengelolaan risiko dalam                           transactions, operational management, and risk management
   situasi tertentu.                                                               in certain situation.


Tugas dan tanggung jawab Satuan Kerja Audit Internal                            The duties and responsibilities of Internal Audit Unit and the
beserta realisasi program kerja selama tahun 2024 dijelaskan                    realization of the work programs during 2024 are explained as
sebagai berikut.                                                                follows.


            Tugas dan Tanggung Jawab                                                  Realisasi Program Kerja 2024
            Duties and Responsibilities                                             Realization of 2024 Work Program

 Membuat perencanaan audit (tahunan dan bulanan).              Menyusun Rencana Audit (Audit Plan) untuk tahun 2024, baik tahunan dan bulanan,
                                                               bersama dengan Komite Audit serta menyampaikannya kepada Presiden Direktur.
 Prepare audits (annually and monthly) planning.               Prepared Audit Plan for 2024, both annually and monthly, together with the Audit
                                                               Committee and submitted the plan to the President Director.

 Melaksanakan kegiatan audit (finansial dan operasional)       Seluruh pelaksanaan Internal Audit tahun 2024 telah sesuai dengan Rencana Audit
 dengan mengacu pada rencana audit yang telah ditetapkan.      (Audit Plan) tahun 2024, terutama audit pada kegiatan operasional Perseroan.

 Carry out audit (financial and operational) activities by     The entire Internal Audit 2024 has been implemented in accordance with the 2024 Audit
 referring to the set audit plan.                              Plan, especially the audit on the Company’s operational activities.

 Membuat laporan audit atas audit yang dijalankan.             Menyusun laporan pemeriksaan audit yang diselenggarakan pada unit kerja Perseroan
                                                               yang ditetapkan dalam Audit Plan tahun 2024.
 Prepare an audit report on the audit conducted.               Prepare report on audit examination held in the Company’s work unit as stipulated in
                                                               the 2024 Audit Plan.

 Menyampaikan      hasil    audit    kepada     pihak-pihak    Laporan Hasil Audit telah disampaikan kepada Komite Audit pada rapat triwulan Komite
 yang kompeten.                                                Audit pada 28 Februari 2024, 27 Mei 2024, 20 Agustus 2024, dan 21 November 2024
                                                               serta disampaikan secara periodik kepada Presiden Direktur.
 Submit the audit result to the competent parties.             The Reports on Audit Results was submitted to the Audit Committee at the Audit
                                                               Committee’s quarterly meetings on February 28th, 2024, May 27th, 2024, August 20th,
                                                               2024, and November 21st, 2024 and submitted periodically to the President Director.

 Memantau tindak lanjut hasil audit yang dijalankan auditee.   Berdasarkan hasil pemantauan bahwa rekomendasi hasil audit telah ditindaklanjuti oleh
                                                               departemen atau divisi terkait.
 Monitor the follow-up on results of the audit conducted       Based on the monitoring result that recommendations on the audit results have been
 by the auditees.                                              followed-up by the related departments or division.




Pengembangan Kompetensi                                                         Competency Development

Perseroan memfasilitasi pengembangan kompetensi Satuan                          The Company facilitates the Internal Audit Unit’s competency
Kerja Audit Internal untuk meningkatkan kualitas auditor agar                   development to improve the quality of auditors to remain qualified
tetap berkualitas dan andal. Program ini direkomendasikan                       and reliable. This program is recommended to be implemented
untuk dilaksanakan setidaknya sekali setahun. Rincian program                   at least once a year. Details of the development programs
pengembangan yang diikuti selama tahun 2024 disajikan dalam                     attended throughout 2024 are presented in the following table.
tabel berikut.




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                                                                                     Tempat dan Waktu
   Nama               Jabatan                       Topik Pelatihan                       Pelatihan                   Penyelenggara Pelatihan
   Name               Position                       Training Topic                   Places and Time                   Training Organizer
                                                                                         of Training

                  Kepala Satuan                                                           27 Maret 2024
                                         Internal Audit Transformation                                           The Institute of Internal Audit (IIA)
 Dedy             Kerja Audit Internal                                                   March 27th, 2024
 Susanto          Head of Internal       Effective Data-Driven, Board-Ready Audit          12 Juni 2024
                  Audit Unit                                                                                     The Institute of Internal Audit (IIA)
                                         Management                                       June 12th, 2024

                                                                                         30 Januari 2024
                                         The New Global Internal Audit Standard                                  The Institute of Internal Audit (IIA)
                                                                                        January 30th, 2024

                                                                                          27 Maret 2024
                                         Internal Audit Transformation                                           The Institute of Internal Audit (IIA)
                  Department Head                                                        March 27th, 2024
 Jun Putra
                  Audit Internal                                                           2 Mei 2024
                                         Audit Internal ISO:9001                                                 The Institute of Internal Audit (IIA)
                                                                                          May 2nd, 2024

                                         Effective Data-Driven, Board-Ready Audit          12 Juni 2024
                                                                                                                 The Institute of Internal Audit (IIA)
                                         Management                                       June 12th, 2024

 Dadan            Department Head                                                      8-11 Oktober 2024
                                         Certified Audit Internal Officer.                                       PPM Management
 Mugni            Audit Internal                                                      October 8th–11th, 2024

                                                                                           23 April 2024
                                         Audit Internal ISO 9001                                                 Kelas.com
                                                                                          April 23rd, 2024

                                         Business Process Management for                   21 Juni 2024
                  Business                                                                                       Greatness
                                         Beginners.                                       June 21st, 2024
 Adinawiji        Compliance Audit
                  Specialist             The GRC Approach to Managing                   16 Agustus 2024
                                                                                                                 Coursera
                                         Cybersecurity                                  August 16th, 2024

                                                                                       14-23 Oktober 2024        Yayasan Pendidikan Internal Audit (YPIA)
                                         QIA Managerial
                                                                                      October 14th–23rd, 2024    Internal Audit Education Foundation (YPIA)




Sertifikasi Profesi Satuan Kerja Audit Internal
Internal Audit Unit’s Professional Certification

               Nama                                        Jabatan                           Jenis Sertifikasi Profesi Internal Audit
               Name                                        Position                      Types of Internal Audit Professional Certification

 Dadan Mugni                             Department Head Audit Internal                                Certified Internal Audit Officer (CIAO)

 Danar Palwoto                           Section Head Audit Internal                                   Certified Internal Audit Officer (CIAO)

 Suryanto                                Business Compliance Audit Sr Specialist                       Certified Internal Audit Officer (CIAO)

 Min Fadhlillah                          Business Compliance Audit Specialist                          Certified Internal Audit Officer (CIAO)




Pelaksanaan Rapat dengan Direksi,                                                  Implementation of Meetings with
Dewan Komisaris, dan/atau                                                          the Board of Directors,
Komite Audit                                                                       Board of Commissioners,
                                                                                   and/or Audit Committee

Internal Audit secara rutin melakukan rapat bersama dengan                         Internal Audit routinely holds joint meeting with the Board of
Direksi. Selain itu, Internal Audit juga melaporkan Laporan                        Directors. Internal Audit also reports the Audit Result to the Audit
Hasil Audit kepada Komite Audit setiap triwulan dalam rapat                        Committee every quarter in the Audit Committee’s meeting.
Komite Audit. Informasi mengenai rapat Komite Audit dapat                          Information on Audit Committee’s meeting can be seen in the
dilihat pada sub bab Komite Audit.                                                 Audit Committee sub-chapter.




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Sistem Pengendalian Internal
Internal Control System



Perseroan membentuk sistem pengendalian internal untuk                        The Company has established an internal control system
menjaga aset perusahaan, memastikan efektivitas operasional,                  to safeguard the Company’s assets, ensure operational
serta mematuhi peraturan dan hukum yang berlaku. Sistem                       effectiveness, and comply with applicable laws and regulations.
ini melibatkan berbagai mekanisme kontrol yang diterapkan di                  This system involves various control mechanisms that are applied
seluruh aktivitas bisnis.                                                     across all business activities.



Kesesuaian Sistem Pengendalian Internal                                       Conformity of Internal Control System
dengan Kerangka COSO                                                          with COSO Framework

Penerapan sistem pengendalian internal merujuk pada standar                   The implementation of internal control system refers to the
internasional yang diterbitkan oleh Committee of Sponsoring                   international standards issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). Standar                      Organizations of the Treadway Commission (COSO). The standard
tersebut mencakup 5 komponen utama pengendalian                               covers 5 main components of internal control, namely control
internal, yakni lingkungan pengendalian, penilaian risiko,                    environment, risk assessment, control activities, information and
kegiatan pengendalian, sistem informasi dan komunikasi, serta                 communication system, and monitoring.
pemantauan.



Implementasi Sistem                                                           Implementation of Internal
Pengendalian Internal                                                         Control System

Sistem pengendalian internal dikelola oleh Organ Perseroan berikut.           The Company Organs manage the following internal control
                                                                              system.


        Organ Perseroan                                                                    Peran
        Company’s Organ                                                                    Roles

 Komite Audit                        Melakukan pengawasan secara makro dan mengkaji upaya-upaya pengendalian internal.
 Audit Committee                     Conducting macro supervision and studying the efforts of internal control.

 Satuan Kerja Audit Internal         Melakukan pengendalian internal pada kegiatan operasional Perseroan sesuai dengan Pedoman Standar
                                     Akuntansi Keuangan (PSAK) yang berlaku di Indonesia dan Piagam Audit Internal Perseroan.
 Internal Audit Unit                 Conducting internal control on the operational activities of the Company in accordance with the Guidelines for
                                     Financial Accounting Standards (PSAK) applicable in Indonesia and the Company’s Internal Audit Charter.

 Divisi Legal Operation              Memastikan bahwa kebijakan, keputusan, dan seluruh aktivitas bisnis dilakukan sesuai dengan ketentuan hukum
                                     dan peraturan yang berlaku.
 Legal Operation Division            Ensuring that the policy, decision, and all business activities are carried out in accordance with the applicable
                                     provisions of laws and regulations.

 Departemen Manajemen Risiko         Memastikan bahwa seluruh risiko kegiatan usaha Perseroan telah teridentifikasi, termasuk menyiapkan langkah-
                                     langkah mitigasi atas risiko tersebut.
 Risk Management Department          Ensuring that all the risks of the Company’s business activities have been identified, including preparing the
                                     mitigation measures for these risks.

 Divisi Kepatuhan, Perizinan, dan    Memastikan bahwa kebijakan, keputusan dan seluruh aktivitas bisnis didukung dengan perizinan yang dibutuhkan
 Administrasi                        sesuai dengan ketentuan hukum dan peraturan yang berlaku.
 Compliance, Licensing, and          Ensuring that policies, decisions, and all business activities are supported with the necessary permits in accordance
 Administration Division             with applicable laws and regulations.




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Implementasi sistem pengendalian internal Perseroan diuraikan               The implementation of the Company’s internal control system is
sebagai berikut.                                                            described as follows.


     Komponen Sistem
   Pengendalian Internal                                                Implementasi di Perseroan
   Component of Internal                                              Implementation in the Company
      Control System

 Operasional                      • Semua proses pertambangan memiliki standard operating procedure (SOP) yang mengandung pengendalian
                                    internal yang memadai. SOP ini dijalankan dan ditaati oleh setiap Departemen dalam Perseroan. Semua kegiatan
                                    operasional pertambangan yang dilakukan perusahaan juga telah mengacu pada ketentuan dan perundangan
                                    yang berlaku.
                                  • Setiap ketentuan dan perundangan yang berlaku di bidang pertambangan diinformasikan kepada departemen
                                    terkait untuk dilaksanakan dan dipatuhi. Kepatuhan atas pelaksanaan peraturan dan perundangan itu turut
                                    menjadi objek pemeriksaan dalam setiap pemeriksaan yang dilakukan oleh Satuan Kerja Audit Internal.
 Operational                      • All mining process have a system operational procedure (SOP), which has contained adequate internal control.
                                    This SOP shall be carried out and adhered to by every department in the Company. All mining operational
                                    activities conducted by the Company have also referred to the applicable provisions and laws and regulations.
                                  • Every provision and legislation applicable in the mining field is informed to the relevant department to be
                                    implemented and adhered to. The adherence to the implementation of regulations and legislations also become
                                    the objects of audit in every audit conducted by the Internal Audit Unit.

 Keuangan                         • Setiap pengeluaran dan penerimaan dana hanya dilakukan oleh petugas yang berwenang.
                                  • Setiap pengeluaran dan penerimaan dana harus mendapatkan persetujuan (ditandatangani) oleh pejabat yang
                                    berwenang.
                                  • Didukung dengan dokumen pendukung yang lengkap dan telah diverifikasi dahulu kebenarannya oleh petugas
                                    yang berwenang.
                                  • Sebagian besar transaksi keuangan perusahaan yang dilakukan secara giral dan tunai harus melalui suatu
                                    prosedur yang cukup terkontrol.
                                  • Setiap ketentuan dan perundangan yang berlaku (keuangan, akuntansi, dan perpajakan) telah diinformasikan
                                    kepada semua divisi untuk dilaksanakan dan dipatuhi. Kepatuhan atas pelaksanaan peraturan dan perundangan
                                    tersebut turut menjadi objek pemeriksaan dalam setiap pemeriksaan yang dilakukan oleh Satuan Kerja Audit
                                    Internal.
 Finance                          • Every expenditure and receipt of funds shall only be carried out by the authorized officers.
                                  • Every expenditure and receipt of funds must obtain approval (signed) from the authorized official.
                                  • Complete supporting documents must be available and have already been verified by the authorized officers.
                                  • Most of the Company’s financial transactions carried out in demand and cash must go through a sufficiently
                                    controlled procedure.
                                  • Every applicable provision and legislation (finance, accounting, and tax) has been informed to all divisions to be
                                    implemented and adhered to. The adherence to the implementation of regulations and legislations also become
                                    the objects of audit in every audit conducted by the Internal Audit Unit.

 Pengadaan Barang dan Jasa        Perseroan telah memiliki SOP pada bidang pengadaan barang dan jasa. Berdasarkan SOP tersebut, setiap pengadaan
                                  barang dan jasa Perseroan harus melalui suatu proses tender yang terbuka dan diikuti oleh semua pihak yang
                                  berminat. Namun, dalam hal tertentu, Perseroan juga mengundang beberapa vendor yang benefit untuk mengikuti
                                  pengadaan.
 Procurement of Goods             The Company has owned an SOP for procurement of goods and services. Based on the SOP, every procurement
 and Services                     of goods and services of the Company must go through an open tender process and must be participated by all
                                  interested parties. However, in certain cases, the Company also invites several profitable vendors to participate in
                                  the procurement.

 Pembebasan Lahan                 Perseroan memiliki SOP pada bidang pembebasan lahan. Perseroan membentuk tim pembebasan lahan atau dikenal
                                  dengan Community Development yang bertugas melakukan proses pembebasan lahan sebagaimana diatur dalam
                                  SOP tersebut, serta melakukan koordinasi dengan departemen lain dalam proses dokumentasi dan pembayaran.
 Land Acquisition                 The Company has owned an SOP on land acquisition. The Company has formed a land acquisition team or known
                                  as Community Development, which has a task to process land acquisition as governed in the SOP, and to coordinate
                                  with other departments in the process of documentation and payment.




Evaluasi dan Pandangan Terhadap                                             Evaluation and Overview of the
Efektivitas Sistem Pengendalian Internal                                    Effectiveness of Internal Control System

Satuan Kerja Audit Internal menyampaikan laporan hasil                      The Internal Audit Unit submits a report on internal control
pengendalian internal kepada Direksi untuk dibahas dan ditelaah             results to the Board of Directors to be discussed and reviewed
bersama unit-unit terkait. Setelah itu, laporan diserahkan kepada           together with related units. Afterwards, the report is submitted
Komite Audit untuk menerima masukan dan rekomendasi, yang                   to the Audit Committee to obtain input and recommendations,
kemudian diteruskan kepada Dewan Komisaris. Rekomendasi ini                 which are then forwarded to the Board of Commissioners. These
akan dibahas bersama Direksi guna memastikan bahwa langkah-                 recommendations will be discussed together with the Board of
langkah Perseroan sesuai dengan ketentuan, peraturan yang                   Directors to ensure that the Company’s steps are in accordance
berlaku, serta strategi perusahaan.                                         with applicable provisions, regulations, and company strategies.




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Pada tahun 2024, Dewan Komisaris dan Direksi telah                        In 2024, the Board of Commissioners and Board of Directors
mengevaluasi pelaksanaan sistem pengendalian internal. Kedua              evaluated the implementation of internal control system.
organ perusahaan ini menilai bahwa sistem pengendalian                    Both of these company organs assessed that the internal
internal telah berjalan dengan baik, sehingga mampu menjaga               control system has been running properly, and thus, it is able
stabilitas Perseroan. Hasil evaluasi dan rekomendasi perbaikan            to maintain the Company’s stability. The evaluation results and
kemudian disampaikan kepada pihak-pihak terkait dan dipantau              recommendations for improvement are then submitted to the
oleh Satuan Kerja Audit Internal dan Komite Audit Perseroan.              relevant parties and monitored by the Internal Audit Unit and the
                                                                          Company’s Audit Committee.




Sistem Manajemen Risiko
Risk Management System


Sistem manajemen risiko di Perseroan dirancang untuk                      The Company’s risk management system is designed to identify
mengidentifikasi dan mengelola risiko yang mungkin timbul dari            and manage risks that may arise from business activities, as well
aktivitas bisnis, serta untuk memaksimalkan peluang. Proses ini           as to maximize opportunities. This process is carried out within
dilakukan dalam suatu kerangka kerja yang komprehensif guna               a comprehensive framework to ensure that every decision has
memastikan bahwa setiap keputusan telah mempertimbangkan                  considered the risks faced. The following chart outlines the
risiko yang dihadapi. Bagan berikut menguraikan kerangka                  framework.
kerja tersebut.




           Principles                                  Framework                                                                       Process


  a. Creates Value
  b. Integral Part
     of Organizational Processes
  c. Part of Decision Making
                                                       Mandate and
  d. Expicity Addresses
                                                       Commitment                                                               Establishing The Context
     Uncertainty
  e. Systematic, Structured,                                                                                                        Risk Assessment
     and Timely
                                                            Design
  f. Based on the Best
                                                        of Framework
                                                                                               Communication and Consultation




     Available Information                            for Managing Risk                                                            Risk Identification
  g. Tailored
                                                                                                                                                           Monitoring and Review


  h. Takes Human and Cultural
     Factors Into Account
                                             Continual
                                                                    Implementing Risk
  i. Transparent and Inclusive            Improvement
                                                                      Management
                                        of the Framework                                                                             Risk Analysis
  j. Dynamic Literature and
     Responsive to Change
  k. Facilitates Continual
     Improvement                                          Monitoring
     and Enhancement                                      and Review
     of the Organization                              of the Framework                                                              Risk Evaluation




                                                                                                                                    Risk Treatment




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Pembentukan Departemen                                                                Establishment of Risk Management
Manajemen Risiko                                                                      Department

Perusahaan memilih untuk hanya membentuk Departemen                                   The Company chose to establish only a Risk Management
Manajemen Risiko tanpa Komite Manajemen Risiko karena                                 Department without a Risk Management Committee. This
departemen ini telah menjalankan fungsi pengelolaan risiko yang                       department has been carrying out comprehensive risk
komprehensif. Dipimpin oleh Bapak Harlyn Sianturi, Departemen                         management functions. Led by Mr. Harlyn Sianturi, the Risk
Manajemen Risiko bertanggung jawab memastikan aktivitas                               Management Department is responsible for ensuring that
bisnis sesuai kerangka kerja yang melindungi perusahaan dari                          business activities are in accordance with a framework that
potensi kerugian, serta melapor langsung kepada Direksi untuk                         protects the Company from potential losses, and reports directly
pengambilan keputusan yang cepat dan tepat. Selain itu,                               to the Board of Directors for fast and accurate decision making.
pengawasan tambahan dilakukan oleh Dewan Komisaris yang                               In addition, additional supervision is carried out by the Board
menerima laporan kinerja pengendalian risiko secara berkala,                          of Commissioners who receive periodic reports on risk control
menjadikan struktur ini efektif dan efisien tanpa memerlukan                          performance, making this structure effective and efficient
komite terpisah.                                                                      without the need for a separate committee.


Profil Ketua Manajemen Risiko Perseroan disajikan sebagai berikut.                    The profile of the Company’s Risk Management Head is presented
                                                                                      as follows.




                                                                                       Pengalaman Kerja / Work Experience
                                                                                      • Senior Computer and System Analyst Hudbay Oil, British Petroleum - Lasmo Oil Jakarta
  Harlyn Sianturi                                                                       (1988-1993);
  Ketua Manajemen Risiko                                                              • Superintendent Material Services Hudbay Oil, British Petroleum - Lasmo Oil Jakarta
  Head of Risk Management                                                               (1993-1998);
                                                                                      • Project Management Santa Fe Energy Resources - Jakarta (1998-1999);
                                                                                      • Superintendent Contract and Purchasing PT Kaltim Prima Coal (1999-2003); dan
                                                                                      • Senior Management in Risk and Asset Management PT Kaltim Prima Coal (2003-2018).
  Warga Negara Indonesia                                                              • Senior Computer and System Analyst Hudbay Oil, British Petroleum - Lasmo Oil
  Indonesian Citizen                                                                    Jakarta (1988-1993);
  60 tahun                                                                            • Superintendent Material Services Hudbay Oil, British Petroleum - Lasmo Oil Jakarta
  60 years old                                                                          (1993-1998);
                                                                                      • Project Management Santa Fe Energy Resources - Jakarta (1998-1999);
  Jakarta
                                                                                      • Superintendent Contract and Purchasing PT Kaltim Prima Coal (1999-2003); and
                                                                                      • Senior Management in Risk and Asset Management PT Kaltim Prima Coal
                                                                                        (2003-2018).
 Periode / Office Term                                                                 Rangkap Jabatan / Concurrent Positions
Sejak 2018.                                                                           Tidak memiliki rangkap jabatan di Perseroan dan Entitas Anak Perseroan.
Since 2018.                                                                           Has no concurrent position in the Company and Company’s Subsidiaries.
 Riwayat Pendidikan / Educational                                                      Keahlian / Expertise
• Bachelor of Science bidang Ilmu Komputer, Texas A&M University (1988);              Coal Mining, Supply Chain Management, Keuangan, dan Information System.
• Master Degree bidang Ekonomi, Universitas Indonesia (1992); dan                     Coal Mining, Supply Chain Management, Finance, and Information System.
• Institute of Risk Management, London (2007).
                                                                                       Sertifikasi Profesi / Professional Certification
• Bachelor of Science in Computer Science, Texas A&M University (1988);
• Master degree in Economics, Universitas Indonesia (1992); and                       Certified Six Sigma Black Belt, Snowden Max, Australia.
• Institute of Risk Management, London (2007).                                        Certified Six Sigma Black Belt, Snowden Max, Australia.



Independensi                                                                          Independence
Departemen Manajemen Risiko Perseroan beroperasi secara                               The Company’s Risk Management Department operates
independen dalam mengidentifikasi dan mengelola risiko                                independently in identifying and managing corporate risks. This
perusahaan. Departemen ini menjalankan tugasnya tanpa                                 department carries out its duties without external pressure
tekanan eksternal atau pengaruh internal, termasuk dari                               or internal influence, including from Shareholders and other
Pemegang Saham dan manajemen lainnya, sehingga proses                                 management, ensuring that the risk management process can
pengelolaan risiko dapat berjalan transparan dan akuntabel.                           run transparently and accountably.

Tugas dan Tanggung Jawab
Duties and Responsibilities

              Tugas dan Tanggung Jawab                                                      Realisasi Program Kerja 2024
              Duties and Responsibilities                                                 Realization of 2024 Work Program

 Mengidentifikasi berbagai jenis risiko yang mungkin                 • Mengidentifikasi potensi risiko baru di tahun 2024, seperti perubahan regulasi
 memengaruhi operasi Perseroan.                                        lingkungan, fluktuasi harga batu bara, dan risiko operasional; serta
                                                                     • Melakukan pemetaan risiko berkala untuk mengantisipasi perubahan eksternal yang
                                                                       berpotensi memengaruhi stabilitas bisnis perusahaan.
 Identify various types of risks that may affect the                 • Identified potential new risks in 2024, such as changes in environmental regulations,
 Company’s operations.                                                 coal price fluctuations, and operational risks; and
                                                                     • Conducted periodic risk mapping to anticipate external changes that have the
                                                                       potential to affect the Company's business stability.




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            Tugas dan Tanggung Jawab                                                    Realisasi Program Kerja 2024
            Duties and Responsibilities                                               Realization of 2024 Work Program

 Melakukan penilaian dan pengukuran risiko untuk                Melakukan penilaian kuantitatif dan kualitatif atas risiko utama Perseroan.
 menentukan tingkat risiko yang dapat diterima
 oleh Perseroan.
 Conduct risk assessments and measurements to determine         Conducted quantitative and qualitative assessments of the Company’s main risks.
 the level of risk acceptable to the Company.

 Merancang       dan    mengimplementasikan          strategi   • Mengimplementasikan strategi mitigasi untuk mengurangi dampak risiko yang
 pengendalian dan mitigasi risiko untuk mengurangi                teridentifikasi; serta
 kemungkinan terjadinya risiko atau dampaknya.                  • Menerapkan pengendalian internal lebih ketat untuk mencegah risiko operasional.
 Design and implement risk control and mitigation strategies    • Implemented mitigation strategies to reduce the impact of identified risks; and
 to reduce the tendency of risk occurrence or its impact.       • Implemented tighter internal control to prevent operational risks.

 Melakukan pemantauan rutin terhadap risiko yang telah          • Memantau risiko secara berkala menggunakan indikator risiko utama guna
 diidentifikasi dan mitigasi yang telah diterapkan untuk          memastikan efektivitas tindakan mitigasi; serta
 memastikan bahwa langkah-langkah pengendalian risiko           • Melaporkan hasil pemantauan secara berkala ke Direksi dan Komite Audit untuk
 berjalan efektif.                                                menjaga stabilitas operasional Perseroan.
 Conduct regular monitoring of identified risks and             • Monitored risks periodically by using key risk indicators to ensure effectiveness of the
 implemented mitigations to ensure that risk control              mitigation actions; and
 measures are effective.                                        • Reported monitoring results periodically to the Board of Directors and the Audit
                                                                  Committee to maintain the Company's operational stability.

 Melaporkan   hasil   identifikasi, pengukuran,     dan         • Menyampaikan laporan kuartalan terkait status risiko dan efektivitas mitigasi kepada
 pemantauan risiko kepada Direksi dan, jika diperlukan,           Direksi dan Dewan Komisaris; serta
 kepada Dewan Komisaris untuk pengawasan lebih lanjut.          • Melaporkan analisis risiko finansial dan operasional dan memberikan rekomendasi
                                                                  untuk langkah pengendalian lebih lanjut.
 Report the results of risk identification, measurement, and    • Submitted quarterly reports on risk status and mitigation effectiveness to the Board
 monitoring to the Board of Directors and, if necessary, to       of Directors and Board of Commissioners; and
 the Board of Commissioners for further supervision.            • Reported financial and operational risk analysis and provided recommendations for
                                                                  further control measures.

 Mendorong kesadaran dan budaya manajemen risiko                Mengadakan program pelatihan dan sosialisasi untuk karyawan sebanyak 3 kali guna
 seluruh organ perusahaan melalui pelatihan dan                 memperkuat budaya sadar risiko di seluruh level perusahaan.
 komunikasi yang terstruktur.
 Promote risk management awareness and culture                  Conducted training and dissemination programs for employees as many as 3 times to
 throughout the Company through structured training and         strengthen the risk awareness culture at all levels of the Company.
 communication.



Rapat                                                                             Meetings
Departemen Manajemen Risiko secara rutin melakukan rapat                          The Risk Management Department regularly holds joint meeting
bersama dengan Direksi. Selain itu, Departemen Manajemen                          with the Board of Directors. The Risk Management Department
Risiko juga melaporkan Laporan Analisa Manajemen Risiko                           also reports the Risk Management Analysis to the Audit
kepada Komite Audit setiap triwulan dalam rapat Komite Audit.                     Committee every quarter in the Audit Committee’s meeting.
Informasi mengenai rapat Komite Audit dapat dilihat pada sub                      Information on Audit Committee’s meeting can be seen in the
bab Komite Audit.                                                                 Audit Committee sub-chapter.



Pengembangan Kompetensi                                                           Competency Development
Perseroan memfasilitasi pengembangan kompetensi Ketua                             The Company facilitates the Risk Management Head’s
Manajemen Risiko untuk meningkatkan kemampuannya                                  competency development to improve the ability in determining
dalam menetapkan strategi pengendalian risiko. Program ini                        risk control strategies. This program is recommended to be
direkomendasikan untuk dilaksanakan setidaknya sekali setahun.                    implemented at least once a year. Details of the development
Rincian program pengembangan yang diikuti selama tahun 2024                       programs attended in 2024 are presented in the following table.
disajikan dalam tabel berikut.


                         Topik Pelatihan                                  Tempat dan Waktu Pelatihan                  Penyelenggara Pelatihan
                          Training Topic                                   Places and Time of Training                  Training Organizer

                                                                                        Virtual,
 Data Story Telling                                                                    Maret 2024                     Institute Teknologi Sains Bandung
                                                                                       March 2024

                                                                                         Virtual,
 Energy Outlook 2025                                                                    April 2024                     Energy Information Agency USA
                                                                                        April 2024




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Profil Risiko                                                                 Risk Profile

Risiko-risiko yang dihadapi Perseroan selama tahun 2024,                      The risks faced by the Company in 2024, along with the mitigation
beserta langkah-langkah mitigasi yang telah diambil untuk                     steps taken to address them, are disclosed as follows.
mengatasinya, diungkapkan sebagai berikut.


      Risiko                                Indikasi                                                           Mitigasi
       Risk                                Indication                                                         Mitigation

 Risiko Ekonomi
 Economic Risk

 Fluktuasi harga     Harga batu bara yang dijual oleh Entitas Anak ditentukan     • Melakukan pengkajian terhadap efisiensi rantai pasokan batu bara
 batu bara.          oleh berbagai faktor di luar kendali Perseroan, seperti        secara konsisten guna mengefisienkan biaya operasional Perseroan.
                     harga batu bara dunia yang berfluktuasi secara signifikan    • Mengombinasikan strategi perdagangan batu bara produksi sendiri
                     mengikuti kapasitas produksi dan pola konsumsi batu            dengan batu bara dari pihak ketiga melalui penyesuaian metode
                     bara dari industri-industri yang menggunakan batu bara         penetapan harga maupun waktu penetapan dengan perkembangan
                     sebagai bahan bakar utama.                                     global yang memengaruhi pasar batu bara.
 Coal price          The price of coal sold by Subsidiaries is determined by      • Conduct study on the efficiency of coal supply chain consistently to
 fluctuation.        various factors beyond the Company’s control, such as the      make the Company’s operational cost efficient.
                     world coal price which fluctuates significantly following    • Combine the strategy of coal trading of self-production with coal
                     the production capacity and coal consumption pattern           from third party through the adjustment of pricing and timing
                     from industries using coal as their main fuel.                 methods to the global development that influences the coal
                                                                                    market.

 Fluktuasi harga     Bahan bakar merupakan bagian yang signifikan dari            • Melakukan efisiensi biaya operasi pada semua lini usaha, termasuk
 bahan bakar,        biaya operasional Perseroan sehingga fluktuasi dalam           mengurangi ketergantungan terhadap bahan bakar minyak dan
 bahan baku, dan     harga bahan bakar dapat memengaruhi profitabilitas             terus melakukan pengendalian biaya dengan meningkatkan
 bahan pendukung     perusahaan.                                                    efisiensi rantai pasokan batu bara yang secara berkala dievaluasi.
 penambangan.                                                                     • Melakukan negosiasi ulang dengan pihak-pihak ketiga guna
                                                                                    melakukan efisiensi saat terjadi gejolak iklim batu bara yang tidak
                                                                                    mendukung.
                                                                                  • Penggunaan solar panel untuk mendukung ketersediaan energi
                                                                                    terbarukan untuk aktivitas supporting, seperti kegiatan kantor.
 Price fluctuation   Fuel is a significant part of the Company’s operational      • Conduct operational cost efficiency on all business lines, including
 of fuel, raw        cost, and therefore, fluctuation of fuel price can affect      reduce the dependency on fuel oil and continue conducting cost
 material, and       the Company’s profitability.                                   control by increasing the efficiency of coal supply chain which is
 supporting                                                                         evaluated periodically.
 material of                                                                      • Conduct renegotiation with third parties to carry out efficiency
 mining.                                                                            when there is an unfavorable coal climate turmoil.
                                                                                  • The use of solar panels to support the availability of renewable
                                                                                    energy for supporting activities, such as office activities.

 Perbedaan           Ketidaksesuaian kuantitas dan kualitas produk batu           • Melakukan uji sampling untuk mengukur kadar batu bara yang
 kuantitas dan       bara dengan permintaan pelanggan dapat menyebabkan             dihasilkan, serta memantau kualitas dan kuantitas produk secara
 kualitas produk     pelanggaran kontrak kerja ataupun menimbulkan                  langsung di site maupun melalui laporan yang dihasilkan.
 batu bara.          kerugian bagi Perseroan.                                     • Melakukan koordinasi yang baik dengan pihak yang terkait produksi,
                                                                                    distribusi, hingga penjualan.
 Differences in      Inconsistency of the quantity and quality of coal products   • Conduct sampling tests to measure the level of coal produced, as
 the quantity and    with customer demand can cause work contract violations        well as monitor the quality and quantity of products directly on site
 quality of coal     or losses to the Company.                                      and through the resulting reports.
 products.                                                                        • Coordinate well with parties related to production, distribution, and
                                                                                    sales.

 Perubahan           Perubahan yang bersifat membatasi kegiatan usaha             • Mematuhi seluruh peraturan yang berlaku dan mengkaji peraturan
 peraturan           penambangan dapat berdampak negatif terhadap kondisi           baru yang mungkin akan berdampak negatif terhadap operasional
 perundang-          keuangan, hasil operasi, dan prospek usaha.                    Perseroan.
 undangan.                                                                        • Melalui Departemen Legal serta Departemen Kepatuhan, Perizinan
                                                                                    dan Administrasi, Perseroan melakukan komunikasi aktif dengan
                                                                                    konsultan hukum dan pemerintah terkait dalam menerapkan
                                                                                    langkah-langkah yang sesuai untuk menjamin ketaatan dan
                                                                                    kepatuhan terhadap peraturan perundang-undangan di bidang
                                                                                    pertambangan.
 Amendments          Amendments that are limiting mining business activities      • Adhere to all applicable regulations and study new regulations that
 to laws and         might have negative impact on the financial condition,         might have negative impact to the Company’s operations.
 regulations.        operational result, and business prospects.                  • Through Legal Division and Compliance, Licensing, and
                                                                                    Administration Division, the Company carries out active
                                                                                    communication with legal consultants and the relevant government
                                                                                    in implementing the appropriate measures to ensure the adherence
                                                                                    to and compliance with the laws and regulations related to the
                                                                                    mining field.




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       Risiko                                  Indikasi                                                           Mitigasi
        Risk                                  Indication                                                         Mitigation

 Perubahan kondisi       Krisis global dapat memengaruhi penurunan ketersediaan      • Melakukan identifikasi dan penilaian risiko berdasarkan tujuan
 ekonomi regional        dana pinjaman, penurunan investasi secara langsung,           strategis utama, yaitu peningkatan produksi batu bara dan fokus
 atau global.            kegagalan institusi keuangan global, penurunan nilai          pada bisnis batu bara.
                         pada pasar saham global, dan penurunan permintaan           • Mengembangkan strategi pembinaan hubungan jangka panjang
                         terhadap beberapa komoditas.                                  dan perolehan kontrak pasokan jangka panjang dari pelanggan
                                                                                       guna mengurangi risiko ketidakpastian perekonomian regional
                                                                                       maupun global.
                                                                                     • Berfokus pada pembangunan aset berjangka panjang guna
                                                                                       meningkatkan kemampuan bisnis perusahaan.
                                                                                     • Melakukan pemantauan terhadap para pesaing di dalam negeri
                                                                                       maupun di luar negeri melalui Departemen Marketing.
                                                                                     • Melakukan pendekatan-pendekatan inovatif untuk mendapatkan
                                                                                       harga yang terbaik yang ada di pasar global.
                                                                                     • Melakukan benchmarking terhadap proses pertambangan batu
                                                                                       bara untuk memastikan proses yang dilakukan Perseroan berjalan
                                                                                       efektif dan efisien.
 Change in regional      Global crisis can affect the decrease of loan fund          • Carry out identification and risk assessment based on the main
 or global economic      availability, decrease of direct investments, failure         strategic objectives, namely the increase of coal production and
 condition.              of global financial institutions, decrease of value in        focus on coal business.
                         global stock market, and decrease of demand to some         • Develop a strategy of fostering long term relationship and acquiring
                         commodities.                                                  long-term contract from the customers to reduce the risk of
                                                                                       regional and global economic uncertainties.
                                                                                     • Focus on a long-term asset building to enhance the company
                                                                                       business ability.
                                                                                     • Monitor domestic and foreign competitors through the Marketing
                                                                                       Department.
                                                                                     • Take innovative approaches to get the best price available in the
                                                                                       global market.
                                                                                     • Benchmark the coal mining process to ensure that the Company’s
                                                                                       process runs effectively and efficiently.

 Perubahan               Perseroan selalu mengedepankan penggunaan teknologi         Menerapkan pengimplementasian teknologi sebagai berikut.
 teknologi.              modern sejalan dengan revolusi industri 4.0 untuk           • Teknologi digital trucking radio untuk kegiatan pengangkutan batu
                         mendukung operasional, kesehatan dan keselamatan              bara.
                         kerja, serta pengambilan keputusan oleh manajemen.          • Sistem iSAFE kepada seluruh karyawan dan mitra kerja untuk
                                                                                       kegiatan pengelolaan kesehatan dan keselamatan kerja (K3).
                                                                                     • Slope Stability Radar pada area pit pertambangan.
                                                                                     • Command Centre sebagai ruangan pusat data informasi.
                                                                                     • Implementasi Fatigue Management System yang bertujuan untuk
                                                                                       memantau lokasi, perilaku, dan kondisi dari para pengemudi.
                                                                                     • Penggunaan energi terbarukan (EBT) melalui pemasangan panel
                                                                                       surya pada kegiatan pendukung operasional sejalan dengan strategi
                                                                                       Perseroan atas tiga hal utama, yaitu people, planet, dan profit.
 Technological           The Company always prioritizes the use of modern            Implement the following technologies.
 changes.                technology in line with the 4.0 industrial revolution to    • Digital trucking radio technology for coal transportation activities.
                         support operations, occupational health, and safety, as     • The iSAFE system for all employees and business partners for
                         well as decision making by management.                        occupational health and safety (OHS) management activities.
                                                                                     • Slope Stability Radar in the mining pit area.
                                                                                     • Command Centre as a data information centre room;
                                                                                     • Implementation of Fatigue Management System, which aims to
                                                                                       monitor the location, behavior, and condition of the drivers.
                                                                                     • The use of new and renewable energy (EBT) through the installation
                                                                                       of solar panels in operational support activities is in line with the
                                                                                       Company’s strategy for three main matters, namely people, planet,
                                                                                       and profit.

 Risiko Sosial
 Social Risk

 Kesehatan dan           Ketidakmampuan manajemen keselamatan kerja untuk            • Menerapkan program K3 secara rutin dan memastikan terpenuhinya
 keselamatan kerja       mengantisipasi peningkatan kegiatan di wilayah operasi        standar K3 bagi mitra usaha baru.
 (K3).                   yang berdampak pada kecelakaan kerja.                       • Memastikan sistem dan organisasi yang mumpuni dalam melakukan
                                                                                       pengawasan terhadap setiap aktivitas di wilayah operasional.
                                                                                     • Melakukan inspeksi dan pengujian sarana dan prasarana
                                                                                       keselamatan secara rutin di seluruh wilayah operasional.
                                                                                     • Memberikan pelatihan, pengawasan, dan konsultasi manajemen
                                                                                       keselamatan kerja.
 Occupational            The inability of occupational safety management to          • Implement OHS program on a regular basis and ensure that OHS
 health and safety       anticipate an increase in activities in operational areas     standards are met for new business partners.
 (OHS).                  that have an impact on occupational accidents.              • Ensure a qualified system and organization in supervising every
                                                                                       activity in the operational areas.
                                                                                     • Conduct routine inspections and tests of safety facilities and
                                                                                       infrastructure in all operational areas.
                                                                                     • Provide occupational safety management training, supervision, and
                                                                                       consulting.




118        PT Golden Energy Mines Tbk
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                                                                                                                                           Corporate Governance




      Risiko                                  Indikasi                                                               Mitigasi
       Risk                                  Indication                                                             Mitigation

 Komunitas            Gejolak dan konflik sosial dapat menghambat kegiatan             Melalui Entitas Anak, Perseroan membina komunikasi yang intensif
 lokal di wilayah     operasional Perseroan. Kegagalan untuk menyelesaikan             dengan masyarakat sekitar wilayah pertambangan dengan program
 pertambangan.        permasalahan yang timbul dengan penduduk di                      pengembangan masyarakat yang juga merupakan bagian dari tanggung
                      sekitar area operasional Entitas Anak, seperti masalah           jawab sosial sehingga mampu membina masyarakat untuk menjadi
                      pembebasan lahan, tumpang tindih lahan, dan relokasi             lebih mandiri. Perseroan juga mengupayakan agar kondisi saling
                      penduduk, dapat memengaruhi kegiatan operasional                 menguntungkan ini akan mengurangi risiko terjadinya perselisihan
                      Perseroan yang berpotensi merusak citra Perseroan di             dengan masyarakat di sekitar wilayah pertambangan.
                      mata masyarakat.
 Local communities    Turmoil and social conflicts can hamper the Company’s            Through the Subsidiaries, the Company builds intensive communication
 in the mining        operational activities. Failures to settle issues arising with   with the communities surrounding the mining areas under the
 areas.               the communities surrounding the operational areas of the         community development programs which are also parts of the
                      Subsidiaries, such as the issue of land acquisition, land        social responsibility in order to develop the community to be more
                      overlapping, and community relocation, can affect the            independent. The Company also strives that this mutually beneficial
                      Company’s operational activities that potentially might          conditions will reduce the risk of disputes with the communities
                      ruin the Company image in the eyes of the community.             surrounding the mining areas.

 Risiko Lingkungan
 Environment Risk

 Perubahan cuaca,     Perubahan cuaca, kecelakaan, dan bencana alam dapat              • Menetapkan standar keselamatan kerja yang baik dalam
 kecelakaan, dan      memberikan dampak negatif terhadap kinerja operasional             pelaksanaan kegiatan operasional pertambangan.
 bencana alam.        Perseroan dan Entitas Anak.                                      • Menyesuaikan rencana pertambangan dengan kondisi yang terjadi
                                                                                         di lapangan.
                                                                                       • Melakukan investasi di prasarana, seperti saluran drainase dan
                                                                                         konstruksi jalan yang bebas gangguan cuaca.
                                                                                       • Melakukan pengawasan rutin dalam prosedur keselamatan kerja di
                                                                                         lapangan sehingga meminimalkan adanya kecelakaan kerja akibat
                                                                                         gangguan cuaca.
                                                                                       • Penggunaan weather modification untuk mengurangi curah hujan.
                                                                                       • Berlangganan data perkiraan cuaca untuk mengetahui proyeksi
                                                                                         curah hujan pada kurun waktu tertentu agar bisa mengoptimalkan
                                                                                         kegiatan operasional pertambangan.
 Climate change,      Climate change, accidents, and natural disasters can             • Set good occupational safety standards in the implementation of
 accidents, and       cause negative impact to the operational performance of            mining operational activities.
 natural disasters.   the Company and the Subsidiaries.                                • Adjust the mining plans with the conditions that occur in the field.
                                                                                       • Conduct investment in infrastructure, such as drainage channel and
                                                                                         road construction that is free from weather disturbance.
                                                                                       • Carry out routine supervision in the procedure of occupational
                                                                                         safety in the field to minimize occupational safety due to weather
                                                                                         disturbance.
                                                                                       • The use of weather modification to reduce rainfall.
                                                                                       • Subscribing to weather forecast data to find out rainfall projection
                                                                                         for a certain period of time in order to optimize mining operational
                                                                                         activities.

 Perubahan            Kualitas lingkungan di sekitar wilayah operasional               • Mengupayakan efisiensi penggunaan energi dan air, serta
 kualitas             dapat berubah akibat berbagai kegiatan usaha yang                  mengendalikan limbah, efluen, dan emisi yang dihasilkan dari
 lingkungan           dilaksanakan Perseroan.                                            kegiatan operasional Perseroan.
 sekitar wilayah                                                                       • Melaksanakan program pengelolaan lahan, baik sebelum
 operasional.                                                                            maupun sesudah aktivitas pertambangan, guna menjaga kualitas
                                                                                         lingkungan hidup sekitar wilayah operasional.
 Change in the        The quality of the environment around the operational            • Strive for efficient use of energy and water, as well as control waste,
 quality of the       areas may change due to various business activities                effluent, and emissions resulting from the Company’s operational
 environment          carried out by the Company.                                        activities.
 around the                                                                            • Implement land management program, both before and after
 operational areas.                                                                      mining activities, to maintain the quality of the environment
                                                                                         around the operational areas.




Tinjauan Terhadap Efektivitas Sistem                                               Review on the Effectiveness
Manajemen Risiko                                                                   of Risk Management

Direksi dan Departemen Manajemen Risiko secara rutin                               The Board of Directors and Risk Management Department
mengevaluasi penerapan sistem manajemen risiko di bawah                            routinely evaluate the implementation of risk management
pengawasan Dewan Komisaris. Evaluasi ini merupakan bagian                          system under the Board of Commissioners’ supervision. This
dari upaya internal untuk memastikan bahwa pengelolaan risiko                      evaluation is part of an internal effort to ensure that risk
dilakukan secara efektif dan sejalan dengan 4 pilar governansi                     management is carried out effectively and in line with the 4
korporat.                                                                          pillars of corporate governance.




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Pernyataan Dewan Komisaris dan                                                              Statement of Board of Commissioners
Direksi Atas Kecukupan Sistem                                                               and Board of Directors on Adequacy
Manajemen Risiko                                                                            of Risk Management System

Berdasarkan peninjauan yang dilakukan sepanjang tahun                                       Based on the review conducted throughout 2024, the Board
2024, Dewan Komisaris dan Direksi menilai bahwa sistem ini                                  of Commissioners and Board of Directors assessed that this
efektif dalam mengidentifikasi, menilai, dan mengelola risiko                               system was effective in identifying, assessing, and managing the
perusahaan. Selain itu, Perseroan juga berhasil memanfaatkan                                Company’s risks. The Company also succeeded in taking advantage
peluang untuk terus meningkatkan penerapan sistem                                           of opportunities to constantly improve the implementation of
manajemen risiko secara berkelanjutan.                                                      risk management system in a sustainable manner.




Eksternal Audit
External Audit


Eksternal audit merupakan pihak independen yang bertanggung                                 External audit is an independent party responsible for conducting
jawab untuk melakukan pemeriksaan dan memberikan opini atas                                 audits and providing opinions on the Company's financial
kondisi keuangan Perseroan sesuai dengan standar akuntansi                                  condition in accordance with applicable accounting standards and
yang berlaku dan ditetapkan oleh Ikatan Akuntan Indonesia.                                  stipulated by the Institute of Indonesia Chartered Accountants.
Wewenang untuk menunjuk akuntan publik berada pada                                          The authority to appoint a public accountant lies with the Board
Dewan Komisaris, berdasarkan rekomendasi Komite Audit serta                                 of Commissioners, based on the recommendation from the Audit
keputusan yang diambil dalam RUPS.                                                          Committee and the GMS resolutions.


Daftar kantor akuntan publik dan akuntan publik yang telah                                  A list of public accounting firms and public accountants that have
mengaudit Laporan Keuangan Perseroan dalam 5 tahun terakhir                                 audited the Company's Financial Statements in the last 5 years is
disajikan pada tabel berikut.                                                               presented in the following table.


                                                                                                                                                                 Biaya
      Tahun                Kantor Akuntan Publik                      Akuntan Publik                      No. Izin Akuntan Publik
                                                                                                                                                                  Fee
       Year                Public Accounting Firm                    Public Accountant               Public Accountant License Number
                                                                                                                                                                  (Rp)

       2024            KAP Mirawati Sensi Idris                     Maria Leckzinska                         STTD.AP-108/PM.22/2018                         3,415,000,000

                       KAP Mirawati Sensi Idris*                    Maria Leckzinska                            STTD.AP-108/PM.22/2018                       3,250,000,000
        2023
                       KAP Purwantono, Sungkara & Surja**           Sandy                                                 AP.1179                              900,000,000

       2022            KAP Purwantono, Sungkara & Surja             Sandy                                                 AP.1179                            5,433,745,000

       2021            KAP Purwantono, Sungkara & Surja             Moch. Dadang Syachruna                                AP.0691                            4,181,762,600

       2020            KAP Purwantono, Sungkara & Surja             Sinarta                                               AP.0701                            6,402,095,000

* Sebagai KAP dalam proses audit Laporan Keuangan Perseroan untuk periode 30 September 2023, Penelaahan Terbatas Laporan Keuangan Perseroan untuk periode 31 Oktober
   2023, dan Audit Laporan Keuangan Perseroan untuk periode 31 Desember 2023. / As KAP in the audit process of the Company's Financial Statements for the period of September
   30th, 2023, Limited Review of the Company's Financial Statements for the period of October 31st, 2023, and Audit of the Company's Financial Statements for the period of
   December 31st, 2023.
** Sebagai KAP dalam proses audit Laporan Keuangan Perseroan untuk periode 31 Maret 2023 dan Penelaahan Terbatas Laporan Keuangan Perseroan untuk periode 30 Juni 2023. /
   As KAP in the audit process of the Company's Financial Statements for the period of March 31st, 2023 and Limited Review of the Company's Financial Statements for the period
   of June 30th, 2023.




Jasa Lain yang Diberikan                                                                    Other Services Provided

Tidak terdapat jasa lain yang diberikan KAP Mirawati Sensi Idris                            There were no other services provided by KAP Mirawati Sensi
selain audit dan limited review Laporan Keuangan Perseroan                                  Idris other than the audit and limited review of the Company's
tahun 2024. Pada tahun 2024, Perseroan menggunakan jasa                                     Financial Statements for 2024. In 2024, the Company used the
PT RSM Konsultan Indonesia untuk melakukan analisa transfer                                 services of PT RSM Konsultan Indonesia to conduct a transfer
pricing document dengan biaya sebesar Rp488.250.000,-.                                      pricing document analysis at a cost of Rp488,250,000.




120          PT Golden Energy Mines Tbk
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                                                                                                                                 Corporate Governance




Kode Etik
Code of Conduct



Kode Etik wajib dipatuhi oleh seluruh karyawan, termasuk anggota         The Code of Conduct must be complied with by all employees,
Dewan Komisaris dan Direksi, sebagai pedoman berperilaku                 including members of the Board of Commissioners and Board
untuk memastikan integritas dan tanggung jawab dalam setiap              of Directors, as a guideline for behavior to ensure integrity and
tindakan. Kepatuhan terhadap Kode Etik ini memastikan bahwa              responsibility in every action. Compliance with this Code of
semua tindakan sejalan dengan nilai-nilai perusahaan dan                 Conduct ensures that all actions are in line with Company values
peraturan yang berlaku.                                                  and applicable regulations.


Pokok-Pokok Kode Etik
Main Points of Code of Conduct


                 Disiplin Kerja
                 Work Discipline


                   Setiap karyawan dituntut untuk bekerja secara disiplin dan   Every employee is required to work in a disciplined and
                   bertanggung jawab sesuai dengan budaya kerja yang dianut     responsible manner in accordance with the work culture
                   Perseroan.                                                   adopted by the Company.




                 Penggunaan Sarana Kerja
                 Utilization of Work Facilities


                   Setiap karyawan dapat menggunakan fasilitas kantor secara    Every employee can use the office facilities optimally
                   maksimal dalam mendukung pelaksanaan tugas dan tanggung      in supporting the implementation of the duties and
                   jawabnya, tanpa menyalahgunakan fasilitas yang ada.          responsibilities, without having to misuse the existing facilities.




                 Wewenang dan Tanggung Jawab Anggota Dewan Komisaris, Direksi, dan Karyawan
                 Authority and Responsibility of Members of the Board of Commissioners, Board of Directors, and Employees


                   Setiap karyawan dimotivasi untuk selalu mengerahkan          Every employee is motivated to always exerting the best ability
                   kemampuan terbaik dalam menjalankan tugas dan tanggung       in carrying out the duties and responsibilities to achieve the best
                   jawabnya sehingga dapat mencapai hasil yang terbaik,         results, including in maintaining the Company’s confidentiality.
                   termasuk dalam menjaga kerahasiaan Perseroan.




                 Kebijakan Anti-Korupsi
                 Anti-Corruption Policy


                   Setiap karyawan wajib mendukung program pemerintah dan       Every employee is required to support the government and
                   Perseroan dalam memberantas korupsi, kolusi, nepotisme,      the Company’s programs in eradicating corruption, collusion,
                   penggelapan, dan tindak pidana pencucian uang, termasuk      nepotism, embezzlement, and money laundering, including
                   melakukan pengawasan dan penerapan kebijakan anti-korupsi    monitoring and implementing this anti-corruption policy by
                   ini dengan mengenali pelanggan (know your customer) serta    applying know your customer and prohibiting asking or receiving
                   larangan meminta atau menerima suatu pemberian dengan        gifts with certain value.
                   nilai tertentu.




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Tata Kelola Perusahaan




Sosialisasi dan Penegakan Kode Etik
Dissemination and Enforcement of Code of Conduct


                                                   • Situs web internal;                               • The internal website;
                 Sosialisasi                       • E-mail; dan                                       • E-mail; and
                 Dissemination                     • Penandatanganan pernyataan kepatuhan              • Signing a statement of compliance and
                                                     dan Pakta Integritas bagi karyawan baru.            Integrity Pact for new employees.



                                                   Menunjuk Tim SDM sebagai pihak yang bertugas        Appoint the HR Team as the party responsible
                                                   untuk memantau dan mencegah terjadinya              for monitoring and preventing actions that
                 Penegakan                         tindakan-tindakan yang melanggar Kode Etik.         violate the Code of Conduct. Every party
                 Enforcement                       Setiap pihak yang terbukti melanggar Kode           proven to have violated the Code of Conduct
                                                   Etik akan dikenakan sanksi sesuai dengan jenis      shall be subject to sanctions according to the
                                                   pelanggaran yang dilakukan.                         type of violation committed.




Pelanggaran Kode Etik
Code of Conduct Violations


                Tidak terdapat pelanggaran Kode Etik yang signifikan dan      There were no significant violations of the Code of Conduct
                menimbulkan sanksi bagi karyawan selama tahun 2024.           that imposed sanctions on employees throughout 2024.




Program Kepemilikan Saham oleh Karyawan
dan/atau Manajemen
Employees and/or Management Share Ownership Program

Perseroan tidak melaksanakan program kepemilikan saham, baik                  The Company does not implement a stock ownership program,
dalam bentuk Employee Stock Options Program (ESOP) maupun                     either in the form of Employee Stock Option Program (ESOP) or
Management Stock Options Program (MSOP), dalam 2 tahun                        Management Stock Option Program (MSOP), in the last 2 years.
terakhir ini.




Perkara Penting
Significant Cases

Pada tahun 2024, Perseroan beserta Dewan Komisaris dan                        In 2024, the Company and its Board of Commissioners and
Direksi yang menjabat tidak mengalami tuntutan dari pihak                     Board of Directors did not face any lawsuits from any party and
mana pun dan tidak terlibat dalam permasalahan yang berkaitan                 were not involved in any legal issues, either criminal or civil unless
dengan hukum, baik pidana maupun perdata, kecuali perkara                     legal case faced by the Company's Subsidiaries as disclosed in
hukum yang dihadapi Entitas Anak Perseroan sebagaimana                        the Company's Consolidated Financial Statements for the 2024
diungkapkan dalam Laporan Keuangan Konsolidasian Perseroan                    financial year.
tahun buku 2024.




Sanksi Administratif
Administrative Sanction

Pada tahun 2024, Perseroan dan Entitas Anak beserta                           In 2024, the Company and its Subsidiaries along with the Board
Dewan Komisaris dan Direksi yang menjabat tidak menerima                      of Commissioners and Board of Directors were not imposed
sanksi administrasi material dari otoritas pasar modal                        by any material administrative sanctions from the capital
dan/atau otoritas terkait lainnya terkait kepatuhan atas                      market authorities and/or other relevant authorities regarding
peraturan pasar modal.                                                        compliance with capital market regulations.



122        PT Golden Energy Mines Tbk
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                                                                                                                             Corporate Governance




Sistem Pelaporan Pelanggaran
Whistleblowing System

              Sistem pelaporan pelanggaran (whistleblowing system/WBS) merupakan wujud implementasi prinsip transparansi atas
                                          tindakan pelanggaran yang dilakukan oleh Organ Perseroan.
  The whistleblowing system (WBS) is a form of implementation of the transparency principle on violations committed by the Company's organs.


                                                                                        Pengaduan    Pelanggaran     dilaporkan     kepada
                   Jenis-Jenis Pelanggaran                                              WHISTLEBLOWING TEAM, melalui media:
                   Types of Violation                                                   Complaints of violations are reported to the
                                                                                        WHISTLEBLOWING TEAM, through the following media:


           •   Korupsi;
           •   Kecurangan dan ketidakjujuran;                                                        E-mail
           •   Perbuatan melanggar hukum;
           •   Pelanggaran ketentuan perpajakan atau perundangan
                                                                                                     ke / to
               lainnya (lingkungan hidup, mark up, under invoice,
                                                                                                     whistleblower@goldenenergymines.com
               ketenagakerjaan, dan lainnya);
           •   Pelanggaran Kode Etik Perseroan atau pelanggaran norma-
               norma kesehatan kerja atau keamanan perusahaan;                                       Surat
           •   Perbuatan yang membahayakan keselamatan dan kesehatan                                 Letter
               kerja atau keamanan Perseroan;
           •   Perbuatan yang menimbulkan kerugian keuangan ataupun                                  PT Golden Energy Mines Tbk
               kerugian non-keuangan terhadap kepentingan Perseroan;                                 Sinarmas Land Plaza Tower II, Lt. 6
               serta                                                                                 Jl. M.H. Thamrin No. 51
           •   Pelanggaran terhadap standar operasi perusahaan.                                      Jakarta Pusat 10350
           •   Corruptions;
           •   Fraud and dishonesty;
                                                                                                     Upload Formulir Whistleblowing
           •   Actions that violate law;
                                                                                                     Upload the Whistleblowing Form
           •   Violations of provision on taxation or other legislation
               (environment, mark-up, under invoice, employment, etc.);
                                                                                                     ke situs web Perseroan.
           •   Violations of the Company Code of Conduct or violations of
                                                                                                     to the Company’s website.
               occupational health or company security norms;
           •   Actions that endanger occupational health and safety or
               security of the Company;
           •   Actions that cause financial or non-financial loss to the
               Company interests; and
           •   Violations to the standards of company operations.
                                                                                                    Mekanisme Pengaduan
                                                                                                    Pelanggaran
                                                                                                    Whistleblowing Mechanism

                   Keamanan Pelapor                                                          • Melaporkan pelanggaran beserta
                   Whistleblower’s Safety                                                      dokumen pendukung melalui media yang
                                                                                               disediakan;
                                                                                             • Pengaduan pelanggaran akan diproses
           Perseroan memberikan perlindungan hukum kepada pelapor terkait                      sesuai Pedoman Sistem Pelaporan
           kebocoran identitas serta potensi ancaman atau tindakan yang dapat                  Pelanggaran (proses tindak lanjut dapat
           merugikan lainnya.                                                                  dipantau melalui akses informasi terkait);
           The Company provides legal protection to whistleblower regarding                    dan
           identity leakage as well as potential threats or actions that can harm            • Laporan pelanggaran yang sudah terbukti
           others.                                                                             akan diberikan sanksi sesuai dengan jenis
                                                                                               pelanggaran dan peraturan yang berlaku.
                                                                                             • Report violations along with the
                                                                                               supporting documents through the media
Laporan                            Tidak terdapat laporan pelanggaran yang masuk               provided;
Pelanggaran 2024                   atau sedang ditindaklanjuti, baik yang berkaitan          • Whistleblowing will be processed in
                                   dengan Perseroan, Dewan Komisaris, Direksi,                 accordance with the Whistleblowing
Report on 2024
                                   organ pendukung, ataupun karyawan selama                    System Guidelines (follow-up process can
Violations                         tahun 2024.                                                 be monitored through access to related
                                   There are no incoming or ongoing whistleblowing             information); and
                                   reports, whether related to the Company, Board            • Whistleblowing report that has been
                                   of Commissioners, Board of Directors, supporting            proven will be given sanctions in
                                   organs, or employees during 2024.                           accordance with the type of violation and
                                                                                               applicable regulations.




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Keterbukaan Transaksi Material Selama 2024
Disclosure of Material Transactions Throughout 2024



Perseroan berkomitmen untuk mematuhi seluruh peraturan             The Company is committed to complying with all regulations
terkait tata kelola perusahaan, termasuk Peraturan Otoritas        related to corporate governance, including Financial Services
Jasa Keuangan No. 17/POJK.04/2020 tentang Transaksi                Authority Regulation No. 17/POJK.04/2020 on Material
Material dan Perubahan Kegiatan Usaha. Informasi mengenai          Transactions and Changes in Business Activities. Information on
Transaksi Material yang dilakukan oleh Perseroan sepanjang         Material Transactions carried out by the Company throughout
tahun 2024 telah dipublikasikan kepada Otoritas Jasa Keuangan      2024 has been published to the Financial Services Authority and/
dan/atau Bursa Efek Indonesia, serta diungkapkan dalam             or Indonesia Stock Exchange, and disclosed in the Company's
Laporan Keuangan Konsolidasian Perseroan tahun buku 2024.          Consolidated Financial Statements for the 2024 financial year.
Informasi Transaksi Material yang dimaksud meliputi, antara lain   The Material Transaction Information includes, among others,
pemberian fasilitas pinjaman di dalam grup Perseroan.              the provision of loan facilities within the Company's group.




Keterbukaan Transaksi Afiliasi dan
Benturan Kepentingan Selama 2024
Disclosure of Affiliated Transactions and Conflict of Interest Throughout 2024


Perseroan menjalankan transaksi afiliasi dengan mematuhi           The Company carries out affiliated transactions by complying
prinsip transaksi yang wajar. Untuk memastikan integritas dan      with the principles of fair transactions. To ensure integrity and
keadilan dalam setiap transaksi, Perseroan menerapkan prosedur     fairness in every transaction, the Company implements strict
pelaksanaan transaksi afiliasi yang ketat. Seluruh transaksi       affiliated transaction procedures. All affiliated transactions
afiliasi telah melalui prosedur perbandingan guna memastikan       have gone through a comparison procedure to ensure normal
pelaksanaan yang normal (arms’ length basis) sesuai dengan         implementation (arms’ length basis) in accordance with
Peraturan Otoritas Jasa Keuangan No. 42/POJK.04/2020               Financial Services Authority Regulation No. 42/POJK.04/2020
tentang Transaksi Afiliasi dan Transaksi Benturan Kepentingan      on Affiliated Transactions and Conflict of Interest Transactions
(POJK 42/2020).                                                    (POJK 42/2020).


Pada tahun 2024, setiap transaksi afiliasi yang dilakukan          In 2024, every affiliated transaction conducted by the Company
oleh Perseroan telah memenuhi prosedur perbandingan dan            complied with the comparative procedure and was conducted
dilakukan dengan ketentuan yang adil dan beralasan kuat demi       with fair and reasonable provisions in the interests of the
kepentingan Perseroan. Informasi tentang transaksi afiliasi ini    Company. Information on these affiliated transactions has been
telah dipublikasikan kepada Otoritas Jasa Keuangan dan/atau        published to the Financial Services Authority and/or Indonesia
Bursa Efek Indonesia, serta diungkapkan Laporan Keuangan           Stock Exchange, and disclosed in the Company's Consolidated
Konsolidasian Perseroan tahun buku 2024 sesuai dengan POJK         Financial Statements the 2024 financial year in accordance
42/2020. Adapun transaksi yang dimaksud, mencakup pemberian        with POJK 42/2020. The transactions include the provision of
fasilitas pinjaman dalam grup Perseroan, sewa, dan pembelian       loan facilities within the Company's group, rent, and purchase
barang dan/atau jasa gedung. Rincian lengkap tentang transaksi     of building goods and/or services. Complete details of affiliated
afiliasi dapat dilihat dalam bagian sifat, saldo, dan transaksi    transactions can be seen in the nature, balance, and transactions
dengan pihak berelasi dalam Laporan Keuangan Konsolidasian         with related parties section of the Company’s Consolidated
Perseroan tahun buku 2024.                                         Financial Statements for the 2024 financial year.


Pada tahun 2024, Perseroan memastikan tidak ada transaksi          In 2024, the Company ensured that there were no affiliated
afiliasi yang mengandung benturan kepentingan, sebagaimana         transactions containing a conflict of interest, as regulated in
diatur dalam POJK 42/2020.                                         POJK 42/2020.




124        PT Golden Energy Mines Tbk
Page 127
                                                                                                                        Corporate Governance




Kebijakan Insider Trading
Insider Trading Policy

Insider Trading merupakan indikasi pelanggaran yang dilakukan        Insider Trading is an indication of a violation committed by
oleh orang dalam untuk menyebarkan informasi material yang           an insider to disseminate material information that has not
belum diumumkan kepada publik, sehingga dapat memengaruhi            been announced to the public, and thus, influencing investors’
keputusan investor untuk membeli atau menjual saham. Oleh            decisions to buy or sell shares. The Company is committed to
karena itu, Perseroan berkomitmen untuk melarang adanya              prohibiting such practices by establishing an Insider Trading
praktik tersebut dengan menetapkan Kebijakan Insider Trading         Policy as stated in the Code of Conduct and standard operating
yang tercantum dalam Kode Etik dan standard operating                procedure (SOP). In addition, the classification of insiders referred
procedure (SOP). Selain itu, klasifikasi orang dalam yang            to as disclosed in the Financial Services Authority Regulation
dimaksud sebagaimana diungkapkan dalam Peraturan Otoritas            No. 78/POJK.04/2017 on Securities Transactions Not Prohibited
Jasa Keuangan No. 78/POJK.04/2017 tentang Transaksi Efek             for Insiders, is as follows:
yang Tidak Dilarang bagi Orang Dalam, yakni:
1. Dewan Komisaris, Direktur, atau karyawan Emiten atau              1. Board of Commissioners, Board of Directors, or employees of
    Perusahaan Publik;                                                  the Issuer or Public Company;
2. Pemegang Saham Utama Emiten atau Perusahaan Publik;               2. Major Shareholders of the Issuer or Public Company;
3. Orang perseorangan yang karena kedudukan atau                     3. Individuals who, due to their position or profession or due to
    profesinya atau karena hubungan usahanya dengan Emiten              their business relationship with an Issuer or Public Company,
    atau Perusahaan Publik memungkinkan orang tersebut                  can obtain inside information; or
    memperoleh informasi orang dalam; atau
4. Pihak yang dalam waktu 6 bulan terakhir tidak lagi menjadi        4. Parties who, within the last 6 months, are no longer parties as
    pihak sebagaimana dimaksud dalam angka 1, angka 2, dan              mentioned in number 1, number 2, and number 3.
    angka 3.


Orang dalam tersebut dilarang untuk:                                 The insiders are prohibited from:
1. Melakukan pembelian atau penjualan atas efek Perseroan atau       1. Purchasing or selling securities of the Company or other
   perusahaan lain yang melakukan transaksi dengan Perseroan;            companies that carry out transactions with the Company;
2. Memengaruhi pihak lain untuk melakukan pembelian atau             2. Influencing other parties to purchase or sell the securities
   penjualan atas efek yang dimaksud; serta                              intended; and
3. Memberi informasi orang dalam kepada pihak mana pun yang          3. Providing inside information to any party who may reasonably
   patut diduganya dapat menggunakan informasi yang dimaksud             be suspected to use the information to purchase or sell
   untuk melakukan pembelian atau penjualan atas efek.                   securities.


Perseroan, dalam praktiknya, memberikan pemberitahuan untuk          The Company, in practice, gives notice not to trade the
tidak melakukan perdagangan saham Perseroan dalam periode            Company’s shares within a certain period prior to the publication
tertentu menjelang diterbitkannya Laporan Keuangan Perseroan.        of the Company’s Financial Statements.




Kebijakan Anti-Korupsi
Anti-Corruption Policy

Penetapan kebijakan terkait anti-korupsi merupakan bagian dari       The establishment of anti-corruption policy is part of the
komitmen Perseroan dalam mewujudkan praktik bisnis yang              Company’s commitment to realizing clean and responsible
bersih dan bertanggung jawab, sehingga mampu menumbuhkan             business practices, and thus, growing stakeholders trust. The
kepercayaan para pemangku kepentingan. Kebijakan tersebut            policy is stated in the Code of Conduct, which contains ethical
tercantum di dalam Kode Etik yang berisi tentang nilai-nilai etika   values that underlie the rejection of corrupt practices. This
yang mendasari penolakan terhadap praktik korupsi. Informasi         information is disseminated to all employees through various
tersebut disosialisasikan kepada seluruh karyawan melalui            activities and internal media of the Company.
berbagai kegiatan dan media internal Perseroan.


Pada tahun 2024, bentuk kepatuhan karyawan Perseroan                 In 2024, the Company’s employees’ compliance with the Code
terhadap Kode Etik diwujudkan melalui penandatanganan Pakta          of Conduct was manifested through the signing of Integrity Pact.
Integritas.



                                                                                                Laporan Tahunan 2024 Annual Report   125
Page 128
Tanggung Jawab Sosial dan Lingkungan




TANGGUNG JAWAB SOSIAL DAN
LINGKUNGAN PERUSAHAAN
Corporate Social and Environmental Responsibility



Ikhtisar Kinerja Keberlanjutan
Sustainability Performance Highlights

Kinerja Ekonomi
Economic Performance

                                           Satuan
                 Uraian                                    2024          2023            2022                    Description
                                            Unit

 Operasional                                                                                                                    Operational
                                          jutaan ton
 Volume Produksi Batu Bara                                   50.69         46.12           38.40                    Coal Production Volume
                                          million tons
                                          jutaan USD
 Volume Penjualan Batu Bara                                  51.86         46.89           38.86                          Coal Sales Volume
                                          million USD
 Laba Rugi                                                                                                                       Profit Loss
                                          jutaan USD
 Pendapatan Usaha                                         2,705.52      2,901.84        2,919.96                                   Revenues
                                          million USD
                                          jutaan USD
 Laba Tahun Berjalan                                       483.13        528.75          695.91                           Profit for the Year
                                          million USD
                                           pemasok
 Jumlah Pemasok Lokal                                         683           636           1,018                 Number of Local Suppliers
                                           suppliers


Kinerja Lingkungan*)
Environmental Performance*)

                                           Satuan
                 Uraian                                    2024         2023**)         2022**)                  Description
                                            Unit

 Penggunaan Energi                                                                                                            Energy Usage
 Sumber Energi Terbarukan                                                                                       Renewable Energy Sources
 Biodiesel                                    TJ            2,676.47      2,506.80        1,522.46                                 Biodiesel
 Listrik dari Panel Surya                     TJ               39.81         39.82           39.81               Electricity from Solar Panel
 Listrik dari PLN yang Dikembangkan
                                              TJ             121.68          92.88            N/A    Electricity from PLN Developed by EBT
 dari EBT
 Total                                        TJ            2,837.96     2,639.50        1,562.27                                      Total
 Sumber Energi Tidak Terbarukan                                                                            Non-Renewable Energy Sources
 Petrodiesel                                  TJ            9,706.42      8,792.05        4,822.32                               Petrodiesel
 Listrik dari PLN dari Sumber                                                                                      Electricity from PLN from
                                              TJ                8.70               -         74.30
 Non-Terbarukan                                                                                                     Non-Renewable Sources
 Total                                        TJ            9,715.12     8,792.05        4,896.62                                      Total
 Total Konsumsi Energi                        TJ           12,382.89    11,298.85        6,458.89                  Total Energy Consumed
 Intensitas Energi                                                                                                         Energy Intensity
 Intensitas Energi (Konsumsi Energi dan                                                              Energy Intensity (Energy and Electricity
                                            GJ/Ton              0.26          0.27            0.19
 Listrik Dibagi Produksi)                                                                              Consumption Divided by Production)
 Penggunaan Air                                                                                                                Water Usage
 Konsumsi Air                              Megaliter        1,108.39      2,504.95        1,570.11                      Water Consumption
 Pengelolaan Limbah dan Efluen                                                                            Waste and Effluent Management
 Volume Overburden                           BCM         214,751,855   233,430,818     178,270,526                      Overburden Volume
                                              ton
 Total Limbah B3                                               3.549      3,265.50        2,550.69                   Total Hazardous Waste
                                             tons
 Limbah B3 yang Dikirim ke Luar Lokasi        ton                                                      Hazardous Waste that is Sent Off-site
                                                             484.20        437.61          348.87
 Tetapi Tidak Didaur Ulang                   tons                                                                        But Not Recycled




126          PT Golden Energy Mines Tbk
Page 129
                                                                                                                                             Corporate Social Responsibility




                                                       Satuan
                     Uraian                                               2024              2023**)             2022**)                      Description
                                                        Unit

                                                          ton
    Limbah B3 yang Didaur Ulang                                           3,065.60            2,827.89            2,201.82                    Hazardous Waste Recycled
                                                         tons
                                                          ton
    Total Limbah Non-B3                                                   2,885.21            2,518.26            3,208.17                  Total Non-Hazardous Waste
                                                         tons

    Limbah Non-B3 yang Dikirim ke                         ton                                                                         Non-Hazardous Waste that is Sent
                                                                                8.30              10.82                9.80
    Luar Lokasi Tetapi Tidak Didaur Ulang                tons                                                                                Off-site But Not Recycled

                                                          ton
    Limbah Non-B3 yang Didaur Ulang                                       2,876.21            2,507.44            3,198.37              Non-Hazardous Waste Recycled
                                                         tons
    Luas Lahan Terganggu dan Direklamasi                                                                                           Disturbed and Reclaimed Land Area

                                                                                                                                          Total Disturbed Land Area at
    Total Luas Lahan Terganggu di Awal
                                                          Ha              6,011.02            4,937.37            4,215.59           the Beginning of Year that has not
    Tahun yang Belum Direklamasi
                                                                                                                                                       been Reclaimed
    Area yang Terganggu pada Tahun Berjalan               Ha              1,069,00            1.220,85            1,220.85          Areas Disturbed in the Current Year
                                                                                                                                                    Total Land Area that
    Luas Lahan yang Belum Direklamasi                     Ha              6,861.09            6,011.02            4,973.73
                                                                                                                                                 has not been Reclaimed

*) Hanya BIB. / Only BIB.    **) Perhitungan kembali. / Recalculation.


Kinerja Sosial
Social Performance

                                                       Satuan
                     Uraian                                               2024               2023                2022                        Description
                                                        Unit

    Ketenagakerjaan                                                                                                                                          Employment
                                                        orang
    Jumlah Karyawan                                                         663                 624                603                                   Total Employees
                                                        people
    Kegiatan CSR                                                                                                                                           CSR Activities
                                                     jutaan USD
    Biaya Pelaksanaan Program PPM                                          6.07                5.33                4.87             PPM Program Implementation Cost
                                                     million USD
*
    Dana ini termasuk dana environmental management sesuai dengan klasifikasi biaya dalam Perseroan. / This fund includes environmental management fund in line with the cost
    classification within the Company.




Komitmen Keberlanjutan
Commitment to Sustainability

Perseroan mengintegrasikan prinsip Environmental, Social, and                              The Company integrates Environmental, Social, and Governance
Governance (ESG) ke dalam kegiatan operasional bisnis. Tiga                                (ESG) principles into its business operations. The three main pillars
pilar utama tersebut dijadikan pedoman bagi Perseroan dalam                                serve as guidelines for the Company in setting targets, evaluating
menetapkan target, mengevaluasi kinerja, dan menyusun rencana                              performance, and preparing work plans related to sustainability.
kerja terkait keberlanjutan. Atas dasar tersebut, Perseroan telah                          As such, the Company has established a sustainability policy that
menetapkan kebijakan keberlanjutan yang berfokus pada:                                     focuses on:
1. Pelaksanaan kegiatan yang mengedepankan aspek                                           1. Conducting activities that prioritize the aspects of safety,
     keselamatan, kesehatan, dan kesetaraan, sesuai dengan                                     health, and equality, in accordance with good mining
     kaidah pertambangan yang baik;                                                            principles;
2. Pengelolaan dan perlindungan lingkungan hidup yang baik;                                2. Good environmental management and protection;
3. Penguatan hubungan eksternal;                                                           3. Strengthening external relations;
4. Pemberdayaan masyarakat; serta                                                          4. Community empowerment; and
5. Pengembangan budaya berkelanjutan melalui perbaikan                                     5. Developing a sustainable culture through continuous
     terus-menerus di dalam internal dan rantai pasok perusahaan.                              improvement internally and within the Company's supply chain.




                     Uraian lengkap terkait kebijakan dan program tanggung jawab sosial dan lingkungan (TJSL)
                                      diungkapkan secara terpisah pada Laporan Keberlanjutan.
                            A complete description of the social and environmental responsibility (TJSL)
                              policies and programs is disclosed separately in the Sustainability Report.



                                                                                                                           Laporan Tahunan 2024 Annual Report        127
Page 130
TANGGUNG JAWAB LAPORAN TAHUNAN
Annual Report Responsibility


                  SURAT PERNYATAAN ANGGOTA DEWAN KOMISARIS DAN ANGGOTA DIREKSI
                        TENTANG TANGGUNG JAWAB ATAS LAPORAN TAHUNAN 2024
                                    PT GOLDEN ENERGY MINES TBK
STATEMENT OF MEMBERS OF THE BOARD OF COMMISSIONERS AND THE BOARD OF DIRECTORS
              ON THE RESPONSIBILITY FOR THE 2024 ANNUAL REPORT OF
                          PT GOLDEN ENERGY MINES TBK


Kami, yang bertanda tangan di bawah ini, menyatakan                                       We, the undersigned, hereby declare that all information in
bahwa    semua    informasi   dalam   Laporan    Tahunan                                  the Annual Report of PT Golden Energy Mines Tbk for year
PT Golden Energy Mines Tbk tahun 2024 telah dimuat secara                                 2024 has been fully contained and we shall be fully responsible
lengkap dan bertanggung jawab penuh atas kebenaran isi                                    to the correctness of contents in the Annual Report of the
Laporan Tahunan Perseroan.                                                                Company.


Demikian pernyataan ini dibuat dengan sebenarnya.                                         This statement is hereby made in all truthfulness.


                                                                            Jakarta, 16 April 2025
                                                                           Jakarta, April 16th, 2025



                                  DIREKSI                                                                   DEWAN KOMISARIS
                          Board of Directors                                                              Board of Commissioners




       Bonifasius                                Haris Mustarto*)                             Lokita Prasetya           Achmad Ananda Djajanegara
    Presiden Direktur                          Wakil Presiden Direktur                       Presiden Komisaris               Wakil Presiden Komisaris
    President Director                         Vice President Director                     President Commissioner           Vice President Commissioner




      Raden Utoro                             Yoghi Nuswantoro                                  Alex Sutanto                     Feriwan Sinatra
           Direktur                                      Direktur                                  Komisaris                          Komisaris
           Director                                      Director                                Commissioner                       Commissioner




        Suhendra                                 Paulus Yuniardi                       Dr. Ir. Bambang Setiawan                   Ketut Sanjaya
           Direktur                                      Direktur                            Komisaris Independen               Komisaris Independen
           Director                                      Director                         Independent Commissioner           Independent Commissioner

*) Mengundurkan diri pada 14 April 2025. / Resigned on April 14th, 2025.


128          PT Golden Energy Mines Tbk
Page 131
Referensi Laporan Tahunan SEOJK No. 16/SEOJK.04/2021
Reference to OJK's Circular Letter No. 16/SEOJK.04/2021



          Kriteria                                                            Penjelasan                                                    Halaman
          Criteria                                                           Descriptions                                                    Page
Ketentuan Umum
General Terms

Laporan Tahunan paling sedikit     1. Ikhtisar data keuangan penting;
memuat informasi berikut.          2. Informasi saham (jika ada);
                                   3. Laporan Direksi;
                                   4. Laporan Dewan Komisaris;
                                   5. Profil perusahaan;
                                   6. Analisis dan pembahasan manajemen;
                                   7. Tata kelola perusahaan;
                                   8. Tanggung jawab sosial dan lingkungan perusahaan;
                                   9. Laporan Keuangan tahunan yang telah diaudit; dan
                                   10. Surat pernyataan anggota Dewan Komisaris dan anggota Direksi tentang tanggung jawab atas
                                       Laporan Tahunan.
Annual Report should contain at    1. Summary of key financial information;
least the following information.   2. Stock information (if any);
                                   3. The Board of Directors report;
                                   4. The Board of Commissioners report;
                                   5. Company Profile;
                                   6. Management discussion and analysis;
                                   7. Corporate governance;
                                   8. Corporate social and environmental responsibility;
                                   9. Audited annual report; and
                                   10. Statement that the Board of Commissioners and the Board of Directors are fully responsible for the
                                       Annual Report.

Bentuk Laporan Tahunan.            1. Laporan Tahunan disajikan dalam bentuk dokumen cetak dan dokumen elektronik;
                                   2. Laporan Tahunan yang disajikan dalam bentuk dokumen cetak, dicetak pada kertas yang berwarna
                                      terang, berkualitas baik, berukuran A4, dijilid, dan dapat diperbanyak dengan kualitas yang baik;
                                   3. Laporan Tahunan dapat menyajikan informasi berupa gambar, grafik, tabel, dan/atau diagram
                                      dengan mencantumkan judul dan/atau keterangan yang jelas, sehingga mudah dibaca dan
                                      dipahami; dan
                                   4. Laporan Tahunan yang disajikan dalam bentuk dokumen elektronik merupakan Laporan Tahunan
                                      yang dikonversi dalam portable document format (PDF).
Form of Annual Report.             1. The Annual Report is presented in the form of printed and electronic documents;
                                   2. The Annual Report is presented in the form of printed documents, printed on bright colored paper,
                                      of good quality, A4 size, bound, and can be reproduced with good quality;
                                   3. The Annual Report can present information in the form of pictures, graphs, tables, and/or diagrams
                                      by including clear titles and/or descriptions, so that they are easy to read and understand; and
                                   4. The Annual Report presented in electronic document form is Annual Report converted in portable
                                      document format (PDF).
Ikhtisar Data Keuangan Penting
Summary of Key Financial Information

Ikhtisar data keuangan penting     Informasi memuat, antara lain:
memuat informasi keuangan          1. Pendapatan/penjualan;
yang disajikan dalam bentuk        2. Laba bruto;
perbandingan selama 3 tahun        3. Laba (rugi);
buku atau sejak memulai            4. Jumlah laba (rugi) yang dapat diatribusikan kepada pemilik entitas induk dan kepentingan non
usahanya     jika   perusahaan         pengendali;
tersebut menjalankan kegiatan      5. Total laba (rugi) komprehensif;
usahanya kurang dari 3 tahun.      6. Jumlah laba (rugi) komprehensif yang dapat diatribusikan kepada pemilik entitas induk dan
                                       kepentingan non pengendali;
                                   7. Laba (rugi) per saham;
                                                                                                                                                 2-3
                                   8. Jumlah aset;
                                   9. Jumlah liabilitas;
                                   10. Jumlah ekuitas;
                                   11. Rasio laba (rugi) terhadap jumlah aset;
                                   12. Rasio laba (rugi) terhadap ekuitas;
                                   13. Rasio laba (rugi) terhadap pendapatan/penjualan;
                                   14. Rasio lancar;
                                   15. Rasio liabilitas terhadap ekuitas;
                                   16. Rasio liabilitas terhadap jumlah aset; dan
                                   17. Informasi dan rasio keuangan lainnya yang relevan dengan perusahaan dan jenis industrinya.




                                                                                                            Laporan Tahunan 2024 Annual Report    129
Page 132
          Kriteria                                                             Penjelasan                                                      Halaman
          Criteria                                                            Descriptions                                                      Page

Summary of Key Financial          The information shall at least contain:
Information contains financial    1. Income/sales;
information     presented    in   2. Gross profit;
comparison with previous 3        3. Profit (loss);
(three) fiscal years or since     4. Total profit (loss) attributable to equity holders of the parent entity and non-controlling interest;
commencement of business if       5. Total comprehensive profit (loss);
the Company commenced the         6. Total comprehensive profit (loss) attributable to equity holders of the parent entity and
business in less than 3 (three)       non-controlling interest;
years ago.                        7. Earnings (loss) per share;
                                  8. Total assets;
                                  9. Total liabilities;
                                  10. Total equity;
                                  11. Profit (loss) to total assets ratio;
                                  12. Profit (loss) to equity ratio;
                                  13. Profit (loss) to income/sales ratio;
                                  14. Current ratio;
                                  15. Liabilities to equity ratio;
                                  16. Liabilities to total assets ratio; and
                                  17. Other information and financial ratios relevant to the Company and type of industry.

Informasi     saham        bagi   1. Saham yang telah diterbitkan untuk setiap masa triwulan yang disajikan dalam bentuk perbandingan
Perusahaan Terbuka                   selama 2 tahun buku terakhir, paling sedikit memuat:
                                     a. Jumlah saham yang beredar;
                                     b. Kapitalisasi pasar berdasarkan harga pada bursa efek tempat saham dicatatkan;
                                     c. Harga saham tertinggi, terendah, dan penutupan berdasarkan harga pada bursa efek tempat
                                         saham dicatatkan; dan
                                     d. Volume perdagangan pada bursa efek tempat saham dicatatkan.
                                     Informasi dalam huruf a, b, dan c hanya diungkapkan jika sahamnya tercatat di bursa efek.
                                                                                                                                                  3
Share information of the Public   1. Shares issued for each three-month period in the last 2 fiscal years, presented in comparison form,
Company                              shall at least cover:
                                     a. Number of outstanding shares;
                                     b. Market capitalization based on the price at the stock exchange where the shares are listed;
                                     c. Highest share price, lowest share price, closing share price at the stock exchange where
                                         the shares are listed; and
                                     d. Share volume at the stock exchange where the shares are listed.
                                     Information in point a, b, c is disclosed only if the shares are listed on a stock exchange.

                                  2. Dalam hal terjadi aksi korporasi yang menyebabkan terjadinya perubahan pada saham, seperti
                                     pemecahan saham (stock split), penggabungan saham (reverse stock), dividen saham, saham bonus,
                                     perubahan nilai nominal saham, penerbitan efek konversi, serta penambahan dan pengurangan
                                     modal, informasi saham sebagaimana dimaksud pada angka 1 ditambahkan penjelasan paling
                                     sedikit mengenai:
                                     a. Tanggal pelaksanaan aksi korporasi;
                                     b. Rasio pemecahan saham (stock split), penggabungan saham (reverse stock), dividen saham,
                                         saham bonus, jumlah efek konversi yang diterbitkan, dan perubahan nilai nominal saham;
                                     c. Jumlah saham beredar sebelum dan sesudah aksi korporasi;
                                     d. Jumlah efek konversi yang dilaksanakan (jika ada); dan
                                     e. Harga saham sebelum dan sesudah aksi korporasi;                                                           4
                                  2. In the event of a corporate action that causes a change in shares, such as a stock split, reverse
                                     stock, stock dividends, bonus shares, changes in the nominal value of shares, issuance of convertible
                                     securities, as well as additions and reductions in capital, stock information as referred to in number
                                     1 shall be added by an explanation of at least:
                                     a. Date of corporate action;
                                     b. Ratio of stock split, reverse stock, stock dividend, bonus shares, total convertible securities
                                         issued, and changes in the nominal value of shares;
                                     c. Number of outstanding shares before and after corporate action;
                                     d. The number of convertible securities exercised (if any); and
                                     e. Share price before and after corporate action.

                                  3. Dalam hal terjadi penghentian sementara perdagangan saham (suspension) dan/atau pembatalan
                                     pencatatan saham (delisting) dalam tahun buku, dijelaskan alasan penghentian sementara
                                     perdagangan saham (suspension) dan/atau pembatalan pencatatan saham (delisting) tersebut; dan                4
                                  3. In the event that the company’s shares were suspended and/or delisted from trading during the
                                     financial year, then the Company shall provide reasons for the suspension and/or delisting; and

                                  4. Dalam hal penghentian sementara perdagangan saham (suspension) sebagaimana dimaksud pada
                                     angka 3) dan/atau proses pembatalan pencatatan saham (delisting) masih berlangsung hingga akhir
                                     periode Laporan Tahunan, dijelaskan tindakan yang dilakukan untuk menyelesaikan penghentian
                                     sementara perdagangan saham (suspension) dan/atau pembatalan pencatatan saham (delisting)
                                                                                                                                                 N/A
                                     tersebut.
                                  4. In the event that the suspension and/ or delisting as referred to in point 3) was still in effect until
                                     the date of the Annual Report, then the Company shall also explain the corporate actions taken
                                     by the Company in resolving the suspension and/or delisting.




130       PT Golden Energy Mines Tbk
Page 133
           Kriteria                                                             Penjelasan                                                  Halaman
           Criteria                                                            Descriptions                                                  Page
Laporan Manajemen
Management Report

Laporan Dewan Komisaris             Paling sedikit memuat:
                                    1. Penilaian terhadap kinerja Direksi mengenai pengelolaan perusahaan, termasuk pengawasan
                                        Dewan Komisaris dalam perumusan dan implementasi strategi perusahaan yang dilakukan
                                        oleh Direksi;
                                    2. Pandangan atas prospek usaha perusahaan yang disusun oleh Direksi; dan
                                    3. Pandangan atas penerapan tata kelola perusahaan.
                                                                                                                                                 10-13
The Board of Commissioners          At least contains:
Report                              1. Assessment on the performance of the Board of Directors in managing the Company, including
                                        the Board of Commissioner’s supervision on the formulation and implementation of corporate
                                        strategies taken by the Board of Directors;
                                    2. View on the business prospects of the Company as established by the Board of Directors; and
                                    3. View on the implementation of the corporate governance by the Company.

Laporan Direksi                     1. Kinerja perusahaan, paling sedikit memuat:
                                       a. Strategi dan kebijakan strategis perusahaan;
                                       b. Peranan Direksi dalam perumusan strategi dan kebijakan strategis perusahaan;
                                       c. Proses yang dilakukan Direksi untuk memastikan implementasi strategi perusahaan;
                                       d. Perbandingan antara hasil yang dicapai dengan yang ditargetkan perusahaan; dan
                                       e. Kendala yang dihadapi perusahaan;
                                    2. Gambaran tentang prospek usaha perusahaan; dan
                                    3. Penerapan tata kelola perusahaan.
The Board of Directors Report       1. Company performance, at least contains:                                                                   14-18
                                       a. Strategy and strategic policies of the Company;
                                       b. Role of the Board of Directors in formulating strategies and strategic policies of the Company;
                                       c. Process carried out by the Board of Directors to ensure the implementation of the Company’s
                                          strategy; and
                                       d. Comparison between achievement of results and targets of the Company; and
                                       e. Challenges faced by the Company;
                                    2. Description on business prospects;
                                    3. Implementation of good corporate governance.
Profil Perusahaan
Company Profile

Nama dan       alamat     lengkap   Paling sedikit memuat:
perusahaan.                         1. Nama perusahaan, termasuk apabila terdapat perubahan nama, alasan perubahan, dan tanggal
                                        efektif perubahan nama pada tahun buku;
                                    2. Akses terhadap perusahaan termasuk kantor cabang atau kantor perwakilan yang memungkinkan
                                        masyarakat dapat memperoleh informasi mengenai perusahaan, meliputi:
                                        a. Alamat;
                                        b. Nomor telepon;
                                        c. Alamat surat elektronik; dan
                                        d. Alamat situs web.
                                                                                                                                                  19
Name and complete address of        At least contains:
the Company                         1. Name of Company, including change of name, reason of change, and the effective date of the
                                        change of name during the financial year;
                                    2. Access to Company, including branch office or representative office, where public can have access
                                        of information of the Company, which include:
                                        a. Address;
                                        b. Telephone number;
                                        c. Email address; and
                                        d. Website address.

Riwayat singkat perusahaan.         Riwayat singkat perusahaan.
                                                                                                                                                  21
Brief history of the Company.       Brief history of the Company.

Visi,  misi,        dan   budaya    Mencakup:
perusahaan.                         1. Visi dan misi perusahaan; serta
                                    2. Informasi mengenai budaya perusahaan (corporate culture) atau nilai-nilai perusahaan (jika ada).
                                                                                                                                                 22-23
Vision, Mission, and Corporate      Includes:
Culture                             1. Vision, Mission of the Company; and
                                    2. Information on corporate culture or company values (if any).

Kegiatan usaha.                     Paling sedikit memuat:
                                    1. Kegiatan usaha menurut anggaran dasar terakhir;
                                    2. Kegiatan usaha yang dijalankan pada tahun buku; dan
                                    3. Jenis barang dan/atau jasa yang dihasilkan.
                                                                                                                                                 24-26
Line of business.                   At least contains:
                                    1. Line of business according to the latest Articles of Association;
                                    2. Line of business carried out during the financial year; and
                                    3. Types of products and/or services produced.




                                                                                                            Laporan Tahunan 2024 Annual Report     131
Page 134
          Kriteria                                                              Penjelasan                                                     Halaman
          Criteria                                                             Descriptions                                                     Page

Wilayah operasional perusahaan.    Meliputi wilayah atau daerah pelaksanaan kegiatan operasional atau jangkauan dari kegiatan
                                   operasional perusahaan.
                                                                                                                                                  27
Operational    area     of   the   Covering the region or area of operational activities or the coverage of the Company's operational
Company.                           activities.

Struktur organisasi perusahaan.    Dalam bentuk bagan, paling sedikit sampai dengan struktur 1 tingkat di bawah Direksi, termasuk komite
                                   di bawah Direksi (jika ada) dan komite di bawah Dewan Komisaris, disertai dengan nama dan jabatan.
                                   In chart form, at least includes 1 level below the Board of Directors, including committees under              28
Organizational structure of the    the Board of Directors (if any) and committees under the Board of Commissioners, with the name
company.                           and position.

Keanggotaan asosiasi.              Daftar keanggotaan asosiasi industri baik dalam skala nasional maupun internasional yang berkaitan
                                   dengan penerapan berkelanjutan.
                                                                                                                                                  9
Association memberships.           List of industry association memberships both on a national and international scale related to the
                                   implementation of sustainable finance.

Identitas dan riwayat hidup        Paling sedikit memuat:
singkat    anggota    Dewan        1. Nama dan jabatan yang sesuai dengan tugas dan tanggung jawab;
Komisaris.                         2. Foto terbaru;
                                   3. Usia;
                                   4. Kewarganegaraan;
                                   5. Riwayat pendidikan dan/atau sertifikasi;
                                   6. Riwayat jabatan, meliputi informasi:
                                       a. Dasar hukum pengangkatan sebagai anggota Dewan Komisaris;
                                       b. Dasar hukum pengangkatan pertama kali sebagai anggota Dewan Komisaris yang merupakan
                                           Komisaris Independen pada perusahaan yang bersangkutan;
                                       c. Rangkap jabatan, baik sebagai anggota Dewan Komisaris, anggota Direksi, dan/atau anggota
                                           komite serta jabatan lainnya baik di dalam maupun di luar perusahaan. Dalam hal anggota
                                           Dewan Komisaris tidak memiliki rangkap jabatan, maka diungkapkan mengenai hal tersebut; dan
                                       d. Pengalaman kerja beserta periode waktunya baik di dalam maupun di luar perusahaan;
                                   7. Hubungan afiliasi dengan anggota Dewan Komisaris lainnya, Pemegang Saham Utama dan
                                       Pengendali, baik langsung maupun tidak langsung sampai kepada pemilik individu, meliputi
                                       nama pihak yang terafiliasi. Dalam hal anggota Dewan Komisaris tidak memiliki hubungan afiliasi,
                                       maka perusahaan mengungkapkan hal tersebut;
Identity and brief curriculum      At least contains:                                                                                           29-31
vitae of members of the Board      1. Name and position according to the duties and responsibilities;
of Commissioners.                  2. Latest photograph;
                                   3. Age;
                                   4. Citizenship;
                                   5. Educational history and/or certification;
                                   6. History of position, covering information on:
                                       a. Legal basis of appointment as member of the Board of Commissioner;
                                       b. Legal basis of the first appointment as member of the Board of Commissioners who is also
                                           Independent Commissioner at the said Company;
                                       c. Concurrent position, as member of the Board of Commissioner, member of the Board of
                                           Directors, and/or member of committee, and other position in or outside the Company. In the
                                           event that the member of the Board of Commissioners does not have concurrent position,
                                           such matter shall be disclosed; and
                                       d. Working experience and period in and outside the Company;
                                   7. Affiliation with other members of the Board of Commissioner, members of the Board of
                                       Directors, majority and controlling shareholders, either directly or indirectly to individual owners,
                                       including names of affiliated parties. In the event that a member of the Board of Commissioners has
                                       no affiliation, the Company shall disclose this matter.

                                   8. Pernyataan independensi komisaris independen dalam hal komisaris independen telah menjabat
                                      lebih dari 2 periode; dan
                                                                                                                                               31; 83-84
                                   8. Statement of independence of Independent Commissioner in the event that the Independent
                                      Commissioner has been appointed for more than 2 periods; and

                                   9. Perubahan komposisi anggota Dewan Komisaris dan alasan perubahannya. Dalam hal tidak terdapat
                                      perubahan komposisi anggota Dewan Komisaris, maka diungkapkan mengenai hal tersebut.

                                   Catatan:
                                   Dalam hal terdapat perubahan susunan anggota Dewan Komisaris yang terjadi setelah tahun buku
                                   berakhir sampai dengan batas waktu penyampaian Laporan Tahunan, susunan yang dicantumkan dalam
                                   Laporan Tahunan adalah susunan anggota Dewan Komisaris yang terakhir dan sebelumnya.
                                   9. Changes in the composition of the members of the Board of Commissioners and the reasons for
                                                                                                                                                82-83
                                      the changes. In the event that there is no change in the composition of the members of the Board
                                      of Commissioners, this matter shall be disclosed.

                                   Note:
                                   In the event that there were changes in the composition of the Board of Commissioners occurring
                                   between the period after year-end until the date the Annual Report is submitted, then the last and
                                   the previous composition of the Board of Commissioners shall be stated in the Annual Report.




132       PT Golden Energy Mines Tbk
Page 135
         Kriteria                                                             Penjelasan                                                    Halaman
         Criteria                                                            Descriptions                                                    Page

Identitas dan riwayat hidup     Paling sedikit memuat:
singkat anggota Direksi.        1. Nama dan jabatan yang sesuai dengan tugas dan tanggung jawab;
                                2. Foto terbaru;
                                3. Usia;
                                4. Kewarganegaraan;
                                5. Riwayat pendidikan dan/atau sertifikasi;
                                6. Riwayat jabatan, meliputi informasi:
                                    a. Dasar hukum pengangkatan sebagai anggota Direksi pada perusahaan yang bersangkutan;
                                    b. Rangkap jabatan, baik sebagai anggota Direksi, anggota Dewan Komisaris, dan/atau anggota
                                        komite serta jabatan lainnya baik di dalam maupun di luar perusahaan. Dalam hal anggota
                                        Direksi tidak memiliki rangkap jabatan, maka diungkapkan mengenai hal tersebut; dan
                                    c. Pengalaman kerja beserta periode waktunya baik di dalam maupun di luar perusahaan;
                                7. Hubungan afiliasi dengan anggota Direksi lainnya, anggota Dewan Komisaris, Pemegang Saham
                                    Utama dan Pengendali, baik langsung maupun tidak langsung sampai kepada pemilik individu,
                                    meliputi nama pihak yang terafiliasi. Dalam hal anggota Direksi tidak memiliki hubungan afiliasi,
                                    maka perusahaan mengungkapkan hal tersebut; dan
Identity and brief curriculum   At least contains:                                                                                              32-34
vitae of members of the Board   1. Name and position according to the duties and responsibilities;
of Directors.                   2. Latest photograph;
                                3. Age;
                                4. Citizenship;
                                5. Educational history and/or certification;
                                6. History of position, covering information on:
                                    a. Legal basis of appointment as member of the Board of Directors to the said Company;
                                    b. Concurrent position, as member of the Board of Directors, member of the Board of
                                        Commissioners, and/or member of committee, and other position in or outside the Company.
                                        In the event that the member of the Board of Directors does not have concurrent position, such
                                        matter shall be disclosed; and
                                    c. Working experience and period in and outside the Company;
                                7. Affiliation with other members of the Board of Directors, members of the Board of Commissioners,
                                    majority and controlling shareholders, either directly or indirectly to individual owners, including
                                    names of affiliated parties. In the event that a member of the Board of Directors has no affiliation,
                                    the Company shall disclose this matter.

                                8. Perubahan komposisi anggota Direksi dan alasan perubahannya. Dalam hal tidak terdapat
                                   perubahan komposisi anggota Direksi, maka diungkapkan mengenai hal tersebut.

                                Catatan:
                                Dalam hal terdapat perubahan susunan anggota Direksi yang terjadi setelah tahun buku berakhir
                                sampai dengan batas waktu penyampaian Laporan Tahunan, susunan yang dicantumkan dalam Laporan
                                Tahunan adalah susunan anggota Direksi yang terakhir dan sebelumnya.
                                8. Changes in the composition of the members of the Board of Directors and the reasons for the                  91-92
                                   changes. In the event that there is no change in the composition of the members of the Board of
                                   Directors, this matter shall be disclosed.

                                Note:
                                In the event that there were changes in the composition of the Board of Directors occurring between
                                the period after year-end until the date the Annual Report is submitted, then the last and the previous
                                composition of the Board of Directors shall be stated in the Annual Report.

Jumlah karyawan.                Memuat informasi pada tahun buku berdasarkan klasifikasi:
                                1. Jenis kelamin;
                                2. Jabatan;
                                3. Usia;
                                4. Tingkat pendidikan; dan
                                5. Status ketenagakerjaan (tetap/kontrak).

                                Catatan:
                                Pengungkapan informasi dapat disajikan dalam bentuk tabel.
                                                                                                                                                63-64
Number of employees.            Contain information in the financial year by classifications of:
                                1. Gender;
                                2. Position;
                                3. Age;
                                4. Education level; and
                                5. Employment status (Permanent/Non-permanent).

                                Note:
                                Disclosure of information can be presented in tabular form.




                                                                                                           Laporan Tahunan 2024 Annual Report     133
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          Kriteria                                                            Penjelasan                                                   Halaman
          Criteria                                                           Descriptions                                                   Page

Komposisi Pemegang Saham.        Paling sedikit memuat:
                                 1. Nama Pemegang Saham dan persentase kepemilikan pada awal dan akhir tahun buku, yang terdiri
                                     dari:
                                     a. Pemegang Saham yang memiliki 5% atau lebih saham Perusahaan;
                                     b. Anggota Dewan Komisaris dan Direksi yang memiliki saham perusahaan. Dalam hal seluruh
                                         anggota Dewan Komisaris dan Direksi tidak memiliki saham, maka diungkapkan mengenai hal
                                         tersebut; dan
                                     c. Kelompok Pemegang Saham masyarakat, yaitu kelompok Pemegang Saham yang masing-
                                         masing memiliki kurang dari 5% saham perusahaan.
                                 2. Persentase kepemilikan tidak langsung atas saham perusahaan oleh anggota Dewan Komisaris
                                     dan Direksi pada awal dan akhir tahun buku, termasuk informasi mengenai Pemegang Saham yang
                                     terdaftar dalam Daftar Pemegang Saham untuk kepentingan kepemilikan tidak langsung anggota
                                     Dewan Komisaris dan Direksi. Dalam hal seluruh anggota Dewan Komisaris dan Direksi tidak memiliki
                                     kepemilikan tidak langsung atas saham perusahaan, maka diungkapkan mengenai hal tersebut.
                                 3. Jumlah Pemegang Saham dan persentase kepemilikan per akhir tahun buku berdasarkan klasifikasi:
                                     a. Kepemilikan institusi lokal;
                                     b. Kepemilikan institusi asing;
                                     c. Kepemilikan individu lokal; dan
                                     d. Kepemilikan individu asing.
Shareholders Composition.        At least contains:                                                                                         37-39
                                 1. Names of shareholders and ownership percentage at the beginning and the end of the fiscal year,
                                     including:
                                     a. Shareholders having 5% or more shares of the Company;
                                     b. Members of the Board of Commissioners and the Board of Directors who own shares of
                                         the Company. In the event that all members of the Board of Commissioners and the Board of
                                         Directors do not have shares, such matter shall be disclosed; and
                                     c. Groups of public shareholders or groups of shareholders, each with less 5% share ownership of
                                         the Company.
                                 2. The percentage of indirect ownership of the shares of the Company by members of the Board
                                     of Commissioners and members of the Board of Directors at the beginning and end of the fiscal
                                     year, including information on shareholders registered in the shareholder register for the benefit
                                     of indirect ownership of members of the Board of Commissioners and members of the Board of
                                     Directors. In the event that all members of the Board of Commissioners and Board of Directors do
                                     not have indirect ownership of shares of the Company, such matter shall be disclosed;
                                 3. Number of shareholder and ownership percentage at the end of the fiscal year, by classifications of:
                                     a. Ownership of local institutions;
                                     b. Ownership of foreign institutions;
                                     c. Ownership of local individual; and
                                     d. Ownership of foreign individual.

Pemegang Saham Utama dan         Informasi mengenai Pemegang Saham Utama dan Pengendali perusahaan, baik langsung maupun tidak
Pengendali                       langsung, sampai kepada pemilik individu, yang disajikan dalam bentuk skema atau bagan.
                                                                                                                                             40
Major      and Controlling       Information on Major Shareholders and Controlling Shareholders of the Company, directly or indirectly,
Shareholders                     and up to the individual owner shall be presented in the form of scheme or diagram.

Daftar Entitas Anak dan/atau     Meliputi:
Entitas Asosiasi.                1. Nama Entitas Anak, Perusahaan Asosiasi, dan/atau Perusahaan Ventura di mana perusahaan
                                    memiliki pengendalian bersama entitas;
                                 2. Persentase kepemilikan saham;
                                 3. Bidang usaha;
                                 4. Total aset; dan
                                 5. Status operasi perusahaan tersebut (jika ada).

                                 Catatan:
                                 Untuk Entitas Anak, ditambahkan informasi mengenai alamat Entitas Anak tersebut.
                                                                                                                                            41-43
List of Subsidiaries    and/or   At least contains:
Associated Entities.             1. Name of Subsidiaries, Associated Companies, and/or Joint Venture where the Company has common
                                     control of the entity;
                                 2. Percentage of stock ownership;
                                 3. Line of business;
                                 4. Total assets; and
                                 5. Operating status of the Company (if any).

                                 Note:
                                 For Subsidiaries, include information of the addresses of the said Subsidiaries.




134      PT Golden Energy Mines Tbk
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            Kriteria                                                                 Penjelasan                                                        Halaman
            Criteria                                                                Descriptions                                                        Page

Kronologi penerbitan dan/atau          Paling sedikit memuat:
pencatatan saham (termasuk             1. Jumlah saham;
pemecahan        saham       (stock    2. Nilai nominal;
split), penggabungan saham             3. Harga penawaran dari awal pencatatan hingga akhir tahun buku; dan
(reverse stock), dividen saham,        4. Nama bursa efek saham perusahaan dicatatkan (jika ada).
saham bonus, perubahan nilai
nominal saham, pelaksanaan
efek konversi, pelaksanaan
penambahan dan pengurangan
modal) dari awal penerbitan
sampai dengan akhir tahun
buku.                                                                                                                                                       39
Chronology         of     issuance     At least contains:
and/or     listing    of     shares    1. Number of shares;
(including stock splits, reverse       2. Shares par value;
stocks, stock dividends, bonus         3. Offering price from the beginning of listing to the end of the financial year; and
shares, changes in the nominal         4. Name of stock exchange where the shares are listed (if any).
value of shares, implementation
of     convertible      securities,
implementation of additional
and reduced capital) from the
beginning of issuance to the end
of financial year.

Kronologi penerbitan dan/atau          Informasi pencatatan efek lainnya yang belum jatuh tempo pada tahun buku paling sedikit memuat:
pencatatan efek lainnya dari           1. Nama efek;
awal penerbitan sampai dengan          2. Tahun penerbitan;
akhir tahun buku.                      3. Tingkat suku bunga/imbal hasil;
                                       4. Tanggal jatuh tempo;
                                       5. Nilai penawaran; dan
                                       6. Peringkat efek (jika ada).
                                                                                                                                                            39
Chronology of issuance and/or          Information on the listing of other securities that are not due in the financial year shall at least contain:
listing of other securities from       1. Name of the securities;
the beginning of issuance to the       2. Year of issuance;
end of financial year.                 3. Interest rate/yield;
                                       4. Maturity date;
                                       5. Offering value; and
                                       6. Securities rating (if any).

Informasi penggunaan jasa              Paling sedikit meliputi:		
akuntan publik (AP) dan kantor         1. Nama dan alamat;
akuntan publik (KAP) beserta           2. Periode penugasan;
jaringan/asosiasi/aliansinya           3. Informasi jasa audit dan/atau non-audit yang diberikan; dan
(dapat disajikan dalam bentuk          4. Biaya jasa (fee) audit dan/atau non-audit untuk masing-masing penugasan yang diberikan selama
tabel).                                    tahun buku.

                                       Catatan:
                                       Dalam hal AP dan KAP beserta jaringan/asosiasi/aliansinya yang ditunjuk tidak memberikan jasa
                                       non-audit, agar diungkapkan.                                                                                       43, 120
Information on the use of a            At least contains:
Public Accountant (AP) and a           1. Name and address;
Public Accounting firm (KAP)           2. Period of assignment;
services and their networks/           3. Information on audit and/or non-audit services provided; and
associations/alliances (can be         4. Audit and/or non-audit fees for each assignment given during the fiscal year.
presented in tabular form).
                                       Note:
                                       In the event that the appointed AP and KAP and their network/association/alliance do not provide non-
                                       audit services, then such information shall be disclosed.

Nama dan alamat lembaga                Nama dan alamat lembaga dan/atau profesi penunjang pasar modal selain AP dan KAP.
dan/atau profesi penunjang.
                                                                                                                                                            43
Name and address of capital            Name and address of capital market supporting institutions and/or professionals other than AP and
market supporting institutions.        KAP.

Penghargaan yang diterima              Memuat antara lain:
dalam tahun buku terakhir              1. Nama penghargaan dan/atau sertifikasi;
dan/atau sertifikasi yang masih        2. Tahun perolehan penghargaan dan/atau sertifikasi;
berlaku dalam tahun buku               3. Badan pemberi penghargaan dan/atau sertifikasi; dan
terakhir, baik yang berskala           4. Masa berlaku (untuk sertifikasi).
nasional maupun internasional.                                                                                                                             5-9
Awards      received     in     the    At least contains:
last financial year and/or             1. Name of award and/or certification;
certificates that are still valid in   2. Year of award and/or certification;
the last financial year, both on a     3. Award and/or certification agency; and
national and international scale.      4. Validity period (for certification).




                                                                                                                     Laporan Tahunan 2024 Annual Report      135
Page 138
           Kriteria                                                              Penjelasan                                              Halaman
           Criteria                                                             Descriptions                                              Page
Analisis dan Pembahasan Manajemen (MDNA)
Management Discussion and Analysis (MDNA)

Tinjauan operasi per segmen         Paling sedikit mengenai:
operasi yang sesuai dengan          1. Produksi, yang meliputi proses, kapasitas, dan perkembangannya;
jenis industri perusahaan.          2. Pendapatan/penjualan; dan
                                    3. Profitabilitas.
                                                                                                                                          45-46
Operational review per business     At least contains:
segment, according to the type      1. Production, including process, capacity, and growth;
of industry of the Company.         2. Income/sales; and
                                    3. Profitability.

Kinerja keuangan perusahaan         Penjelasan tentang penyebab adanya perubahan dan dampak perubahan tersebut, paling sedikit
yang mencakup perbandingan             mengenai:
dalam 2 tahun buku terakhir.        1. Aset lancar, aset tidak lancar, dan total aset;
                                    2. Liabilitas jangka pendek, liabilitas jangka panjang, dan total liabilitas;
                                    3. Ekuitas;
                                    4. Pendapatan/penjualan, beban, laba (rugi), penghasilan komprehensif lain, dan total laba (rugi)
                                       komprehensif; dan
                                    5. Arus kas.                                                                                          49-55
Financial performance analysis      Explanation of the causes of the change and the impact of the change, at least regarding:
which includes a comparison         1. Current assets, non-current assets, and total assets;
between       the     financial     2. Current liabilities, non-current liabilities, and total liabilities;
performance of the last 2 fiscal    3. Equity;
years.                              4. Sales/ revenues, expenses, profit (loss), other comprehensive income, and total comprehensive
                                       profit (loss); and
                                    5. Cash flows.

Kemampuan membayar utang            Penjelasan tentang:
dan    tingkat kolektibilitas       1. Kemampuan membayar utang; dan
piutang.                            2. Tingkat kolektibilitas piutang.
                                    dengan menyajikan perhitungan rasio yang relevan dengan jenis industri.
                                                                                                                                           56
Debt service ability and            Explanation of:
receivables turnover ratio.         1. Debt service ability; and
                                    2. Receivables turnover ratio.
                                    by presenting ratio calculations relevant to the type of industry.

Struktur      modal      (capital   Disertai dasar penentuan kebijakan dimaksud.
structure)     dan      kebijakan
manajemen atas struktur modal
(capital structure policy).                                                                                                                56
Capital       structure       and   Including the basis for determining the said policy.
management’s capital structure
policy.

Ikatan material untuk investasi     Paling sedikit meliputi:
barang modal (bukan ikatan          1. Tujuan dari ikatan tersebut;
pendanaan) pada tahun buku          2. Sumber dana yang diharapkan untuk memenuhi ikatan tersebut;
terakhir.                           3. Mata uang yang menjadi denominasi; dan
                                    4. Langkah yang direncanakan perusahaan untuk melindungi risiko dari posisi mata uang asing yang
                                        terkait.                                                                                           56
Material     commitments   for      At least contains:
capital goods investment (not       1. The purpose of such commitments;
funding commitments) in the         2. Source of funds expected to fulfill the said commitments;
last financial year.                3. Currency of denomination; and
                                    4. Steps taken by the Company to protect the position of a related foreign currency against risks.

Investasi barang modal yang         Paling sedikit meliputi:
direalisasikan pada tahun buku      1. Jenis investasi barang modal;
terakhir.                           2. Tujuan investasi barang modal; dan
                                    3. Nilai investasi barang modal yang dikeluarkan.
                                                                                                                                           56
Capital goods investment which      At least contains:
was realized in the last fiscal     1. Type of capital goods investment;
year.                               2. Purpose of capital goods investment; and
                                    3. Amount of capital goods investment incurred.

Informasi dan fakta material        jika ada.
yang terjadi setelah tanggal
laporan akuntan.
                                                                                                                                           61
Information and material facts      If any.
occurred after the accountant's
report date.




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           Criteria                                                            Descriptions                                                    Page

Prospek usaha perusahaan.          Dikaitkan dengan kondisi industri, ekonomi secara umum dan pasar internasional, disertai data
                                   pendukung kuantitatif dari sumber data yang layak dipercaya.
                                                                                                                                                   57-58
Company business prospects.        Related to the industrial condition, general economy, and international market, accompanied by
                                   quantitative supporting data from reliable data sources.

Perbandingan antara target/        Mengenai:
proyeksi pada awal tahun buku      1. Pendapatan/penjualan;
dengan hasil yang dicapai          2. Laba (rugi);
(realisasi).                       3. Struktur modal (capital structure); atau
                                   4. Hal lainnya yang dianggap penting bagi perusahaan.
                                                                                                                                                    57
Comparison between targets/        Information on:
projections at beginning of        1. Income/sales;
financial year with the results    2. Profit (loss);
achieved (realization).            3. Capital structure; or
                                   4. Other matters deemed necessary by the Company.

Target/proyeksi yang       ingin   Mengenai:
dicapai   untuk   1       tahun    1. Pendapatan/penjualan;
mendatang.                         2. Laba (rugi);
                                   3. Pemasaran;
                                   4. Pengembangan SDM; atau
                                   5. Hal lainnya yang dianggap penting bagi perusahaan.
                                                                                                                                                    58
Targets/projections     to    be   Information on:
achieved for the next 1 year.      1. Income/sales;
                                   2. Profit (loss);
                                   3. Marketing;
                                   4. HR development; or
                                   5. Other matters deemed necessary by the Company.

Aspek pemasaran.                   Antara lain:
                                   1. Strategi pemasaran; dan
                                   2. Pangsa pasar.
                                                                                                                                                   48-49
Marketing aspect.                  Among others:
                                   1. Marketing strategy; and
                                   2. Market share.

Kebijakan dividen dan jumlah       Paling sedikit meliputi:
dividen yang diumumkan atau        1. Kebijakan dividen, antara lain memuat informasi persentase jumlah dividen yang dibagikan terhadap
dibayar selama 2 tahun buku            laba bersih;
terakhir.                          2. Tanggal pembayaran dividen kas dan/atau tanggal distribusi dividen non-kas;
                                   3. Jumlah dividen per saham (kas dan/atau non kas); dan
                                   4. Jumlah dividen per tahun yang dibayar.

                                   Catatan:
                                   1. Dapat disajikan dalam bentuk tabel; dan
                                   2. Dalam hal perusahaan tidak membagikan dividen dalam 2 tahun terakhir, agar diungkapkan.
                                                                                                                                                   58-59
Dividend policy and amount         At least contains:
announced or paid for the last 2   1. Dividend policy, including information on the percentage of dividend amount distributed to net
financial years.                       income;
                                   2. Payment date of cash dividend and/or distribution date of non-cash dividend;
                                   3. Amount of dividend per share (cash and/or non cash); and
                                   4. Amount of dividend paid per year.

                                   Note:
                                   1. Can be presented in tabular form; and
                                   2. If the Company has not distributed dividends in the last 2 years, this shall be disclosed.

Realisasi penggunaan dana hasil Dengan ketentuan:
penawaran umum.                 1. Dalam hal selama tahun buku, perusahaan memiliki kewajiban menyampaikan laporan realisasi
                                   penggunaan dana, maka diungkapkan realisasi penggunaan dana hasil penawaran umum secara
                                   kumulatif sampai dengan akhir tahun buku; dan
                                2. Dalam hal terdapat perubahan penggunaan dana sebagaimana diatur dalam Peraturan Otoritas Jasa
                                   Keuangan tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum, maka perusahaan
                                   wajib menjelaskan perubahan tersebut.
                                                                                                                                                    59
Use of proceeds from Public Under the condition:
Offerings.                      1. In the event that during the financial year, the Company has an obligation to submit a report on the
                                   realization of use of proceeds, the cumulative realization of use of proceeds from public offerings
                                   until the end of financial year shall be disclosed; and
                                2. In the event that there is a change in the use of proceeds as stipulated in Financial Services Authority
                                   Regulation on Realization Report on the Use of Proceeds from Public Offering, the Company shall
                                   explain such change.




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           Kriteria                                                               Penjelasan                                                       Halaman
           Criteria                                                              Descriptions                                                       Page

Informasi material mengenai         Paling sedikit memuat:
investasi, ekspansi, divestasi,     1. Tanggal, nilai, dan objek transaksi;
penggabungan/peleburan              2. Nama pihak yang melakukan transaksi;
usaha, akuisisi, restrukturisasi    3. Sifat hubungan afiliasi (jika ada);
utang/modal, transaksi afiliasi,    4. Penjelasan mengenai kewajaran transaksi;
dan transaksi yang mengandung       5. Pemenuhan ketentuan terkait; dan
benturan kepentingan yang           6. Dalam hal terdapat hubungan afiliasi, selain mengungkapkan informasi sebagaimana dimaksud
terjadi pada tahun buku.                dalam angka 1-5, perusahaan juga mengungkapkan informasi:
                                        a. Pernyataan Direksi bahwa transaksi afiliasi telah melalui prosedur yang memadai untuk
                                            memastikan bahwa transaksi afiliasi dilaksanakan sesuai dengan praktik bisnis yang berlaku
                                            umum antara lain dilakukan dengan memenuhi prinsip transaksi yang wajar (armlength principle);
                                            dan
                                        b. Peran Dewan Komisaris dan komite audit dalam melakukan prosedur yang memadai untuk
                                            memastikan bahwa transaksi afiliasi dilaksanakan sesuai dengan praktik bisnis yang berlaku
                                            umum antara lain dilakukan dengan memenuhi prinsip transaksi yang wajar (armlength principle);
                                    7. Untuk transaksi afiliasi atau transaksi material yang merupakan kegiatan usaha yang dijalankan
                                        dalam rangka menghasilkan pendapatan usaha dan dijalankan secara rutin, berulang, dan/atau
                                        berkelanjutan, ditambahkan penjelasan bahwa transaksi afiliasi atau transaksi material tersebut
                                        merupakan kegiatan usaha yang dijalankan dalam rangka menghasilkan pendapatan usaha dan
                                        dijalankan secara rutin, berulang, dan/atau berkelanjutan. Dalam hal transaksi afiliasi atau transaksi
                                        material dimaksud telah diungkapkan dalam laporan keuangan tahunan, ditambahkan informasi
                                        mengenai rujukan pengungkapan dalam Laporan Keuangan Tahunan tersebut;
                                    8. Untuk pengungkapan transaksi afiliasi dan/atau transaksi benturan kepentingan yang merupakan
                                        hasil pelaksanaan transaksi afiliasi dan/atau transaksi benturan kepentingan yang telah disetujui
                                        Pemegang Saham Independen, ditambahkan informasi mengenai tanggal pelaksanaan RUPS yang
                                        menyetujui transaksi afiliasi dan/atau transaksi benturan kepentingan tersebut; dan
                                    9. Dalam hal tidak terdapat transaksi afiliasi dan/atau transaksi benturan kepentingan, maka
                                        diungkapkan mengenai hal tersebut.                                                                          57,124
Material      information      on   At least contains:
investment,           expansion,    1. Transaction date, value, and object;
divestment, business merger/        2. Name of transacting parties;
consolidation, acquisition, debt/   3. Nature of affiliations (if any);
capital restructuring, affiliated   4. Description of the fairness of the transaction;
transactions, and transactions      5. Compliance with related rules and regulations; and
containing conflict of interest     6. In the event that there is an affiliation relationship, apart from disclosing the information as referred
that occurred during the                to in point 1) to point 5), the Company also discloses information on:
financial year.                         a. A statement from the Board of Directors that the affiliate transaction has gone through adequate
                                            procedures to ensure that the affiliate transaction is carried out in accordance with generally
                                            accepted business practices, by complying with the arms-length principle; and
                                        b. The role of the Board of Commissioners and the audit committee in carrying out adequate
                                            procedures to ensure that affiliated transactions are carried out in accordance with generally
                                            accepted business practices, by complying with the arms-length principle;
                                    7. For affiliate transactions or material transactions which are business activities carried out in order
                                        to generate business income and are carried out routinely, repeatedly, and/or continuously, an
                                        explanation is added that the affiliated transactions or material transactions are business activities
                                        carried out in order to generate business income and are carried out routinely, repeatedly, and/or
                                        continuously. In the event that the affiliated transactions or material transactions referred to have
                                        been disclosed in the annual financial statements, information regarding references to disclosure is
                                        added in the said Annual Financial Statements;
                                    8. For disclosure of affiliated transactions and/or conflict of interest transactions resulting from the
                                        implementation of affiliated transactions and/or conflict of interest transactions that have been
                                        approved by independent shareholders, additional information regarding the date of the GMS which
                                        approved the affiliated transactions and/or conflict of interest transactions is added; and
                                    9. In the event that there is no affiliated transaction and/or conflict of interest transaction, then this
                                        shall be disclosed.
Perubahan              peraturan Disertai dampaknya terhadap Laporan Keuangan (jika ada).
perundang-undangan          yang
berpengaruh signifikan terhadap
perusahaan pada tahun buku
terakhir.                                                                                                                                            60
Amendments to laws and Completed with the impact on the Financial Statements (if any).
regulations which have a
significant  effect    on    the
Company in the fiscal year.
Perubahan kebijakan akuntansi Disertai alasan dan dampaknya terhadap Laporan Keuangan (jika ada).
yang diterapkan perusahaan
pada tahun buku terakhir.
                                                                                                                                                    59-60
Changes in accounting policies Completed with the reasons and impact on the Financial Statements (if any).
implemented by the company in
the last financial year.




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           Criteria                                                           Descriptions                                                    Page

Tata Kelola Perusahaan (Corporate Governance)
Corporate Governance
Rapat Umum Pemegang Saham Paling sedikit memuat:
(RUPS).                         1. Informasi mengenai keputusan RUPS pada tahun buku dan 1 tahun sebelumnya meliputi:
                                    a. Keputusan RUPS yang direalisasikan pada tahun buku; dan
                                    b. Keputusan RUPS yang belum direalisasikan beserta alasan belum direalisasikan;
                                2. Dalam hal perusahaan menggunakan pihak independen dalam pelaksanaan RUPS untuk melakukan
                                    perhitungan suara, maka diungkapkan mengenai hal tersebut.
General Meeting of Stakeholders At least contains:                                                                                               78-82
(GMS).                          1. Information regarding the resolutions of the GMS in the fiscal year and 1 year prior to the fiscal year
                                    include:
                                    a. Resolutions of the GMS that were realized in the fiscal year; and
                                    b. Resolutions of the GMS that have not been realized and the reasons for not realizing them;
                                2. In the event that the Company uses an independent party in the conduct of the GMS to calculate the
                                    votes, then this matter shall be disclosed.
Dewan Komisaris.                   Paling sedikit memuat:
                                   1. Tugas dan tanggung jawab Dewan Komisaris;
                                   2. Pernyataan bahwa Dewan Komisaris memiliki pedoman atau piagam (charter) Dewan Komisaris;
                                   3. Kebijakan dan pelaksanaan frekuensi rapat Dewan Komisaris,rapat Dewan Komisaris bersama
                                       Direksi, dan tingkat kehadiran anggota Dewan Komisaris dalam rapat tersebut, termasuk kehadiran
                                       dalam RUPS (dapat disajikan dalam bentuk tabel);
                                   4. Pelatihan dan/atau peningkatan kompetensi anggota Dewan Komisaris:
                                       a. Kebijakan pelatihan dan/atau peningkatan kompetensi anggota Dewan Komisaris, termasuk
                                           program orientasi bagi anggota Dewan Komisaris yang baru diangkat (jika ada);
                                       b. Pelatihan dan/atau peningkatan kompetensi yang diikuti anggota Dewan Komisaris dalam
                                           tahun buku (jika ada);
                                   5. Penilaian kinerja anggota Direksi dan anggota Dewan Komisaris:
                                       a. Prosedur pelaksanaan penilaian kinerja;
                                       b. Kriteria yang digunakan, seperti capaian kinerja selama tahun buku, kompetensi dan kehadiran
                                           dalam rapat;
                                       c. Pihak yang melakukan penilaian;
                                   6. Penilaian Dewan Komisaris terhadap kinerja komite yang mendukung pelaksanaan tugas Dewan
                                       Komisaris pada tahun buku:
                                       a. Prosedur penilaian kinerja; dan
                                       b. Kriteria yang digunakan, seperti capaian kinerja selama tahun buku, kompetensi, dan kehadiran
                                           dalam rapat.
The Board of Commissioners.        At least contains:
                                                                                                                                                 82-90
                                   1. Duties and responsibilities of the Board of Commissioners;
                                   2. Statement that the Board of Commissioners already has the board manual or charter;
                                   3. Policies and implementation of the frequency of meetings of the Board of Commissioners, meetings
                                       of the Board of Commissioners with the Board of Directors, and the level of attendance of members
                                       of the Board of Commissioners in these meetings including attendance at the GMS (can be
                                       presented in tabular form);
                                   4. Training and/or competency improvement of members of the Board of Commissioners:
                                       a. Policy on competency training and/or development of members of the Board of Commissioners,
                                           including orientation programs for newly appointed members of the Board of Commissioners
                                           (if any); and
                                       b. Competency training and/or development attended by members of the Board of Commissioners
                                           in the fiscal year (if any);
                                   5. The performance assessment of the Board of Directors and Board of Commissioners:
                                       a. Procedure for the implementation of performance assessment;
                                       b. Criteria used, such as performance achievements during the fiscal year, competency, and
                                           attendance at meetings; and
                                       c. Assessor;
                                   6. Board of Commissioners’ assessment of the performance of Committees supporting the
                                       implementation of Board of Commissioners’ duties in the fiscal year:
                                       a. Performance assessment procedures; and
                                       b. The criteria used, such as performance achievements during the fiscal year, competency, and
                                           attendance at meetings.




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           Criteria                                                            Descriptions                                                     Page

Direksi.                           Paling sedikit memuat:
                                   1. Tugas dan tanggung jawab masing-masing anggota Direksi (dapat juga disajikan dalam bentuk
                                       tabel);
                                   2. Pernyataan bahwa Direksi memiliki pedoman atau piagam (charter) Direksi;
                                   3. Kebijakan dan pelaksanaan frekuensi rapat Direksi, rapat Direksi bersama Dewan Komisaris,
                                       dan tingkat kehadiran anggota Direksi dalam rapat tersebut, termasuk kehadiran dalam RUPS
                                       (dapat disajikan dalam bentuk tabel);
                                   4. Pelatihan dan/atau peningkatan kompetensi anggota Direksi:
                                       a. Kebijakan pelatihan dan/atau peningkatan kompetensi anggota Direksi, termasuk program
                                           orientasi bagi anggota Direksi yang baru diangkat (jika ada);
                                       b. Pelatihan dan/atau peningkatan kompetensi yang diikuti anggota Direksi dalam tahun buku
                                           (jika ada);
                                   5. Penilaian Direksi terhadap kinerja komite yang mendukung pelaksanaan tugas Direksi pada tahun
                                       buku:
                                       a. Prosedur penilaian kinerja; dan
                                       b. Kriteria yang digunakan, seperti capaian kinerja selama tahun buku, kompetensi, dan kehadiran
                                           dalam rapat.

                                   Catatan:
                                   Dalam hal perusahaan tidak memiliki komite yang mendukung pelaksanaan tugas Direksi,
                                   agar diungkapkan.
The Board of Directors.            At least contains:                                                                                           91-99
                                   1. The duties and responsibilities of each member of the Board of Directors (can be presented in
                                       tabular form);
                                   2. Statement that the Board of Directors already has board manual or charter;
                                   3. Policies and implementation of the frequency of meetings of the Board of Directors, meetings of the
                                       Board of Directors with the Board of Commissioners, and the level of attendance of members of the
                                       Board of Directors in the meeting including attendance at the GMS (can be presented in tabular form);
                                   4. Training and/or competency development of members of the Board of Directors;
                                       a. Policy on competency training and/or development of members of the Board of Directors,
                                           including an orientation program for newly appointed members of the Board of Directors
                                           (if any); and
                                       b. Competency training and/or development attended by members of the Board of Directors in
                                           the fiscal year (if any).
                                   5. The Board of Directors’ assessment of the performance of committees supporting
                                       the implementation of Board of Directors’ duties for the fiscal year:
                                       a. Performance assessment procedures; and
                                       b. The criteria used, such as performance achievements during the fiscal year, competency,
                                           and attendance at meetings.

                                   Note:
                                   In the event that the Company does not have a committee supporting the implementation of Board of
                                   Directors’ duties, this matter shall be disclosed.

Nominasi dan remunerasi bagi       Paling sedikit memuat:
Dewan Komisaris dan Direksi.       1. Prosedur nominasi, meliputi uraian singkat mengenai kebijakan dan proses nominasi anggota
                                       Dewan Komisaris dan/atau anggota Direksi;
                                   2. Prosedur dan pelaksanaan remunerasi Dewan Komisaris dan Direksi, antara lain:
                                       a. Prosedur penetapan remunerasi;
                                       b. Struktur remunerasi, seperti, gaji, tunjangan, tantiem/bonus dan lainnya; dan
                                       c. Besarnya remunerasi masing-masing anggota Dewan Komisaris dan anggota Direksi.

                                   Catatan:
                                   Pengungkapan informasi dapat disajikan dalam bentuk tabel.
                                                                                                                                                 99,
The       nomination      and      At least contains:
                                                                                                                                               103-105
remuneration of the Board          1. Nomination procedure, including a brief description of the policies and process for nomination of
of Directors and the Board of          members of the Board of Commissioners and/or members of the Board of Directors;
Commissioners.                     2. Procedures and implementation of remuneration for the Board of Commissioners and the Board of
                                       Directors, among others:
                                       a. Procedures for determining remuneration;
                                       b. The remuneration structure, such as salary, allowances, tantiem/bonus and others; and
                                       c. The remuneration amount for each member of the Board of Commissioners and member of the
                                           Board of Directors.
                                   Note:
                                   Disclosure of information can be presented in tabular form.




140        PT Golden Energy Mines Tbk
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          Kriteria                                                         Penjelasan                                                   Halaman
          Criteria                                                        Descriptions                                                   Page

Dewan Pengawas Syariah (DPS).   Bagi perusahaan yang menjalankan kegiatan usaha berdasarkan prinsip syariah sebagaimana tertuang
                                dalam Anggaran Dasar, paling sedikit memuat:
                                1. Nama DPS;
                                2. Dasar hukum pengangkatan DPS;
                                3. Periode penugasan DPS;
                                4. Tugas dan tanggung jawab DPS; dan
                                5. Frekuensi dan cara pemberian nasihat dan saran, serta pengawasan pemenuhan prinsip syariah di
                                    pasar modal terhadap perusahaan.
                                                                                                                                              N/A
Sharia Supervisory Board.       For Company that conducts business based on sharia law, as stipulated in the articles of association,
                                shall at least contain:
                                1. Name of Sharia Supervisory Board;
                                2. Legal basis of appointment of Sharia Supervisory Board;
                                3. Period of assignment of Sharia Supervisory Board;
                                4. Duties and responsibilities of Sharia Supervisory Board; and
                                5. Frequency and procedure in providing advice and suggestion, and monitoring the compliance of
                                    Sharia Principles by the Company in the Capital Market.

Komite Audit.                   Paling sedikit memuat:
                                1. Nama dan jabatannya dalam keanggotaan komite;
                                2. Periode dan masa jabatan anggota Komite Audit;
                                3. Usia;
                                4. Kewarganegaraan;
                                5. Riwayat pendidikan;
                                6. Riwayat jabatan, meliputi informasi:
                                    a. Dasar hukum penunjukan sebagai anggota komite;
                                    b. Rangkap jabatan, baik sebagai anggota Dewan Komisaris, anggota Direksi, dan/atau anggota
                                        komite, serta jabatan lainnya (jika ada); dan
                                    c. Pengalaman kerja beserta periode waktunya, baik di dalam maupun di luar perusahaan;
                                7. Pernyataan independensi Komite Audit;
                                8. Kebijakan dan pelaksanaan frekuensi rapat Komite Audit dan tingkat kehadiran anggota Komite
                                    Audit dalam rapat tersebut;
                                9. Pelatihan dan/atau peningkatan kompetensi yang diikuti dalam tahun buku (jika ada); dan
                                10. Pelaksanaan kegiatan Komite Audit pada tahun buku sesuai dengan yang dicantumkan dalam
                                    pedoman atau piagam (charter) Komite Audit.                                                                35,
Audit Committee.                At least contains:                                                                                           100-103
                                1. Name and position in the committee;
                                2. Period and terms of office of the member of Audit Committee;
                                3. Age;
                                4. Citizenship;
                                5. Education background;
                                6. History of position, including information on:
                                    a. Legal basis of appointment as committee member;
                                    b. Concurrent position, as member of Board of Commissioners, member of Board of Directors, and/
                                        or member of committee, and other position (if any); and
                                    c. Work experience and work period in and outside the Company;
                                7. Statement of independence of the Audit Committee;
                                8. Policies and implementation of audit committee meeting frequency and attendance level of audit
                                    committee members in those meetings;
                                9. Competency training and/or development attended in the fiscal year (if any); and
                                10. The Audit Committee’s activities in the financial year, in accordance with the Audit Committee
                                    Charter.

Komite atau fungsi nominasi     Paling sedikit memuat:
dan remunerasi.                 1. Nama dan jabatannya dalam keanggotaan komite;
                                2. Usia;
                                3. Kewarganegaraan;
                                4. Riwayat pendidikan;
                                5. Riwayat jabatan, meliputi informasi:
                                    a. Dasar hukum penunjukan sebagai anggota komite;
                                    b. Rangkap jabatan, baik sebagai anggota Dewan Komisaris, anggota Direksi, dan/atau anggota
                                        komite, serta jabatan lainnya (jika ada);
                                    c. Pengalaman kerja beserta periode waktunya, baik di dalam maupun di luar perusahaan;
                                6. Periode dan masa jabatan komite;
                                                                                                                                             103-105
                                7. Pernyataan independensi komite;
                                8. Pelatihan dan/atau peningkatan kompetensi yang diikuti dalam tahun buku (jika ada);
                                9. Uraian tugas dan tanggung jawab;
                                10. Pernyataan bahwa telah memiliki pedoman atau piagam (charter);
                                11. Kebijakan dan pelaksanaan frekuensi rapat komite serta tingkat kehadiran anggota komite dalam
                                    rapat tersebut;
                                12. Uraian singkat pelaksanaan kegiatan pada tahun buku; dan
                                13. Dalam hal tidak dibentuk Komite Nominasi dan Remunerasi, perusahaan cukup mengungkapkan
                                    informasi sebagaimana dimaksud pada No.9-12 , serta mengungkapkan:
                                    a. Alasan tidak dibentuknya komite; dan
                                    b. Pihak yang melaksanakan fungsi nominasi dan remunerasi.




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          Kriteria                                                           Penjelasan                                                  Halaman
          Criteria                                                          Descriptions                                                  Page
The       nomination  and          At least contains:
remuneration committee or          1. Name and position in the committee;
function.                          2. Age;
                                   3. Citizenship;
                                   4. Education background;
                                   5. History of position, including information on:
                                       a. Legal basis of appointment as committee member;
                                       b. Concurrent position, as member of Board of Commissioners, member of Board of Directors, and/
                                           or member of committee, and other position (if any);
                                       c. Work experience and work period in and outside the Company;
                                   6. Period and terms of office of the committee;
                                   7. Statement of independence of the committee;
                                   8. Competency training and/or development attended in the fiscal year (if any);
                                   9. Description of duties and responsibilities;
                                   10. A statement that it has a guideline or charter;
                                   11. Policies and implementation of the committee’s meeting frequency and attendance level of
                                       committee’s members at the meeting;
                                   12. Brief description of the implementation of activities in the fiscal year; and
                                   13. In the event that no nomination and remuneration committee is formed, the Company is sufficient
                                       to disclose the information as referred to in No. 9-12, and disclose:
                                       a. Reasons for not forming the committee; and
                                       b. The party carrying out the nomination and remuneration function.
Komite-komite lain yang dimiliki   Paling sedikit memuat:
perusahaan    dalam     rangka     1. Nama dan jabatannya dalam keanggotaan komite;
mendukung fungsi dan tugas         2. Usia;
Dewan Komisaris dan Direksi.       3. Kewarganegaraan;
                                   4. Riwayat pendidikan;
                                   5. Riwayat jabatan, meliputi informasi:
                                       a. Dasar hukum penunjukan sebagai anggota komite;
                                       b. Rangkap jabatan, baik sebagai anggota Dewan Komisaris, anggota Direksi, dan/atau anggota
                                           komite, serta jabatan lainnya (jika ada);
                                       c. Pengalaman kerja beserta periode waktunya, baik di dalam maupun di luar perusahaan;
                                   6. Periode dan masa jabatan komite;
                                   7. Pernyataan independensi komite;
                                   8. Pelatihan dan/atau peningkatan kompetensi yang diikuti dalam tahun buku (jika ada);
                                   9. Uraian tugas dan tanggung jawab;
                                   10. Pernyataan bahwa telah memiliki pedoman atau piagam (charter);
                                   11. Kebijakan dan pelaksanaan frekuensi rapat komite serta tingkat kehadiran anggota komite dalam
                                       rapat tersebut; dan
                                   12. Uraian singkat pelaksanaan kegiatan pada tahun buku.
                                                                                                                                           N/A
Other committees owned by          At least contains:
Companies in order to support      1. Name and position in the Committee;
the functions and tasks of the     2. Age;
Board of Commissioners and the     3. Citizenship;
Board of Directors.                4. Educational background;
                                   5. History of position, including information on:
                                   a. Legal basis of appointment as committee member;
                                   b. Concurrent position, as member of Board of Commissioners, member of Board of Directors, and/or
                                       member of committee, and other position (if any); and
                                   c. Work experience and work period in and outside the Company;
                                   6. Period and terms of office of the committee;
                                   7. Statement of independence of the committee;
                                   8. Competency training and/or development attended in the fiscal year (if any);
                                   9. Description of duties and responsibilities;
                                   10. A statement that the committee has guideline or charter;
                                   11. Policies and implementation of the committee’s meeting frequency and attendance level of
                                       committee’s members at the meeting; and
                                   12. A brief description of the committee’s activities for the fiscal year.




142       PT Golden Energy Mines Tbk
Page 145
           Kriteria                                                           Penjelasan                                                   Halaman
           Criteria                                                          Descriptions                                                   Page

Sekretaris Perusahaan.            Paling sedikit memuat:
                                  1. Nama;
                                  2. Domisili;
                                  3. Riwayat jabatan, meliputi:
                                  a. Dasar hukum penunjukan sebagai sekretaris perusahaan; dan
                                  b. Pengalaman kerja beserta periode waktunya, baik di dalam maupun di luar perusahaan;
                                  4. Riwayat pendidikan;
                                  5. Pendidikan dan/atau peningkatan kompetensi yang diikuti dalam tahun buku; dan
                                  6. Uraian singkat pelaksanaan tugas Sekretaris Perusahaan pada tahun buku.
                                                                                                                                                106-108
Corporate Secretary.              At least contains:
                                  1. Name;
                                  2. Domicile;
                                  3. History of position, including information on:
                                  a. Legal basis of appointment as Corporate Secretary; and
                                  b. Work experience and work period in and outside the Company;
                                  4. Educational background;
                                  5. Education and/or competency development programs attended in the financial year; and
                                  6. Brief description on the implementation of Corporate Secretary’s duties during the financial year.

Unit Audit Internal.              Paling sedikit memuat:
                                  1. Nama Kepala Unit Audit Internal;
                                  2. Riwayat jabatan, meliputi:
                                  a. Dasar hukum penunjukan sebagai Kepala Unit Audit Internal; dan
                                  b. Pengalaman kerja beserta periode waktunya, baik di dalam maupun di luar perusahaan;
                                  3. Kualifikasi atau sertifikasi sebagai profesi audit internal (jika ada);
                                  4. Pendidikan dan/atau peningkatan kompetensi yang diikuti dalam tahun buku;
                                  5. Struktur dan kedudukan Unit Audit Internal;
                                  6. Uraian tugas dan tanggung jawab;
                                  7. Pernyataan telah memiliki pedoman atau piagam (charter) Unit Audit Internal; dan
                                  8. Uraian singkat pelaksanaan tugas Unit Audit Internal pada tahun buku, termasuk kebijakan dan
                                      pelaksanaan frekuensi rapat dengan Dewan Komisaris, Direksi, dan/atau Komite Audit.
Internal Audit Unit.              At least contains:                                                                                            108-111
                                  1. Name of Head of Internal Audit Unit;
                                  2. History of position, including information on:
                                  a. Legal basis of appointment as Head of Internal Audit Unit; and
                                  b. Work experience and work period in and outside the Company;
                                  3. Qualification or certification as internal auditor (if any);
                                  4. Education and/or competency development programs attended in the financial year;
                                  5. Structure and position of Internal Audit Unit;
                                  6. Description of duties and responsibilities;
                                  7. Statement that the Internal Audit Unit already has Internal Audit Unit charter; and
                                  8. Brief description on the implementation of Internal Audit Unit’s duties during the financial year,
                                      including the meeting frequency with the Board of Commissioners, Board of Directors, and/or Audit
                                      Committee.

Uraian    mengenai       sistem   Paling sedikit memuat:
pengendalian internal.            1. Pengendalian keuangan dan operasional, serta kepatuhan terhadap peraturan perundang-
                                      undangan lainnya;
                                  2. Tinjauan atas efektivitas sistem pengendalian internal; dan
                                  3. Pernyataan Direksi dan/atau Dewan Komisaris atas kecukupan sistem pengendalian internal.
                                                                                                                                                112-114
Description on internal control   At least contains:
system.                           1. Financial and operational control, and compliance with other laws and regulations;
                                  2. Review on the effectiveness of internal control systems; and
                                  3. Statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal
                                      control system.

Uraian  mengenai         sistem   Paling sedikit memuat:
manajemen risiko.                 1. Gambaran umum mengenai sistem manajemen risiko perusahaan;
                                  2. Jenis risiko dan cara pengelolaannya;
                                  3. Tinjauan atas efektivitas sistem manajemen risiko perusahaan; dan
                                  4. Pernyataan Direksi dan/atau Dewan Komisaris atau komite audit atas kecukupan sistem manajemen
                                      risiko.
                                                                                                                                                114-120
Description of risk management    At least contains:
system.                           1. General description about the company’s risk management system;
                                  2. Types of risk and the management;
                                  3. Review of the effectiveness of risk management system applied by the Company; and
                                  4. Statement of the Board of Directors and/or the Board of Commissioners or the audit committee on
                                      the adequacy of the risk management system.




                                                                                                           Laporan Tahunan 2024 Annual Report      143
Page 146
             Kriteria                                                            Penjelasan                                                    Halaman
             Criteria                                                           Descriptions                                                    Page

Perkara hukum yang berdampak         Paling sedikit memuat:
material yang dihadapi oleh          1. Pokok perkara/gugatan;
perusahaan,     Entitas   Anak,      2. Status penyelesaian perkara/gugatan; dan
anggota Direksi dan anggota          3. Pengaruhnya terhadap kondisi perusahaan.
Dewan Komisaris (jika ada).
Legal cases that have a material     At least contains:                                                                                          122
impact faced by the Company,         1. Substance of the case/claim;
subsidiaries, members of the         2. Status of settlement of case/claim; and
Board of Directors and members       3. Impacts on the Company’s condition.
of the Board of Commissioners
(if any).

Sanksi administratif.                Informasi tentang sanksi administratif/sanksi yang dikenakan kepada perusahaan, anggota Dewan
                                     Komisaris dan anggota Direksi, oleh Otoritas Jasa Keuangan dan otoritas lainnya pada tahun buku
                                     (jika ada);
                                                                                                                                                 122
Administrative sanctions.            Information about administrative sanctions/sanctions imposed to Company, members of the Board of
                                     Commissioners, and members of the Board of Directors, by the Financial Services Authority and other
                                     authorities during the fiscal year (if any).

Kode Etik.                           Meliputi:
                                     1. Pokok-pokok kode etik;
                                     2. Bentuk sosialisasi kode etik dan upaya penegakannya; dan
                                     3. Pernyataan bahwa kode etik berlaku bagi Dewan Komisaris, Direksi, dan karyawan perusahaan.
Code of Conduct.                     Include:                                                                                                  121-122
                                     1. Key points of the code of conduct;
                                     2. Forms of dissemination of the code of conduct and its enforcement efforts; and
                                     3. Statement that the code of conduct is applicable for the Board of Commissioners, the Board of
                                         Directors, and employees of the Company.

Kebijakan           pemberian        Antara lain berupa program kepemilikan saham oleh manajemen (management stock ownership
kompensasi jangka panjang            program/MSOP) dan/atau program kepemilikan saham oleh karyawan (employee stock ownership
berbasis    kinerja    kepada        program/ESOP).
manajemen dan/atau karyawan
(jika ada).                          Dalam hal pemberian kompensasi berupa ESOP/MESOP, informasi yang diungkapkan paling sedikit
                                     memuat:
                                     1. Jumlah saham dan/atau opsi;
                                     2. Jangka waktu pelaksanaan;
                                     3. Persyaratan karyawan dan/atau manajemen yang berhak; dan
                                     4. Harga pelaksanaan atau penentuan harga pelaksanaan.                                                      122
Policy      on        providing      This includes, among others, management stock ownership program (MSOP) and/or an employee stock
performance-based long-term          ownership program (ESOP).
compensation to management
and/or employees (if any).           In the event that compensation is given in the form of ESOP/MESOP, the information disclosed shall
                                     contain at least:
                                     1. Number of shares and/or options;
                                     2. Implementation period;
                                     3. Requirements for eligible employees and/or management; and
                                     4. Exercise price or determination of exercise price.

Kebijakan           pengungkapan     Mengenai:
informasi.                           1. Kepemilikan saham anggota Direksi dan anggota Dewan Komisaris paling lambat 3 hari kerja setelah
                                         terjadinya kepemilikan atau setiap perubahan kepemilikan atas saham perusahaan; dan
                                     2. Pelaksanaan atas kebijakan dimaksud.
Information disclosure policy.       Include:                                                                                                   38-39
                                     1. Share ownership of members of the Board of Directors and members of the Board of Commissioners
                                         no later than 3 working days after the occurrence of ownership or any change in ownership of shares
                                         of the Company; and
                                     2. Implementation of the policy.




144          PT Golden Energy Mines Tbk
Page 147
           Kriteria                                                               Penjelasan                                                   Halaman
           Criteria                                                              Descriptions                                                   Page

Sistem pelaporan pelanggaran          Paling sedikit memuat:
(whistleblowing system).              1. Cara penyampaian laporan pelanggaran;
                                      2. Perlindungan bagi pelapor;
                                      3. Penanganan pengaduan;
                                      4. Pihak yang mengelola pengaduan; dan
                                      5. Hasil dari penanganan pengaduan, paling sedikit meliputi:
                                          a. Jumlah pengaduan yang masuk dan diproses dalam tahun buku; dan
                                          b. Tindak lanjut pengaduan.

                                      Catatan:
                                      Dalam hal perusahaan tidak memiliki sistem pelaporan pelanggaran (whistleblowing system),
                                      agar diungkapkan.                                                                                              123
Whistleblowing system.                At least contains:
                                      1. Mechanism for violation reporting;
                                      2. Protection for the whistleblower;
                                      3. Handling of violation reports;
                                      4. Unit responsible for handling of violation report; and
                                      5. Results from violation report handling, at least includes:
                                          a. Number of complaints received and processed during the fiscal year; and
                                          b. Follow up of complaints.

                                      Note:
                                      If the company does not have a whistleblowing system, it shall be disclosed.

Kebijakan anti-korupsi.               Paling sedikit memuat:
                                      1. Program dan prosedur yang dilakukan dalam mengatasi praktik korupsi, balas jasa (kickbacks),
                                          fraud, suap dan/atau gratifikasi dalam perusahaan; dan
                                      2. Pelatihan/sosialisasi anti korupsi kepada karyawan.

                                      Catatan:
                                      Dalam hal perusahaan tidak memiliki kebijakan anti korupsi, agar dijelaskan alasan tidak dimilikinya
                                      kebijakan dimaksud.
                                                                                                                                                     125
Anti-corruption policy.               At least contains:
                                      1. Programs and procedures implemented in overcoming corrupt practices, kickbacks, fraud, bribery,
                                          and/or gratification in Companies; and
                                      2. Anti-corruption training/dissemination to employees.

                                      Note:
                                      In the event that the company does not have an anti-corruption policy, the reasons for not having the
                                      said policy should be explained.

Penerapan atas Pedoman Tata           Meliputi:
Kelola Perusahaan Terbuka bagi        1. Pernyataan mengenai rekomendasi yang telah dilaksanakan; dan/atau
perusahaan yang menerbitkan           2. Penjelasan atas rekomendasi yang belum dilaksanakan, disertai alasan dan alternatif pelaksanaannya
efek bersifat ekuitas atau               (jika ada).
perusahaan publik.
                                      Catatan:
                                      Pengungkapan informasi dapat disajikan dalam bentuk tabel.
                                                                                                                                                     74-77
Implementation of the Guidelines      Include:
of Corporate Governance for           1. Statement regarding recommendation that have been implemented; and/or
Public Companies for Issuer           2. Description of recommendation that have not been implemented, along with the reason and
issuing Equity Securities or Public       alternatives of implementation (if any).
Company.
                                      Note:
                                      Disclosure of information can be presented in tabular form.

Tanggung Jawab Sosial dan Lingkungan Perusahaan
                                                                                                                                                    126-127
Corporate Social and Environmental Responsibility.

Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris tentang Tanggung Jawab atas Laporan Tahunan.
                                                                                                                                                     128
Statement of the Board of Directors and the Board of Commissioners regarding the Responsibility for Annual Report.

Laporan Keuangan Tahunan yang Telah Diaudit
                                                                                                                                                     146
Audited Annual Financial Statements




                                                                                                               Laporan Tahunan 2024 Annual Report      145
Page 148
PT Golden Energy Mines Tbk
dan Entitas Anak/and Its Subsidiaries
Laporan Keuangan Konsolidasian – dengan Informasi Tambahan/
Consolidated Financial Statements – with Supplementary Information
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023/
For the Years Ended December 31, 2024 and 2023
Page 149
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK/AND ITS SUBSIDIARIES
DAFTAR ISI/TABLE OF CONTENTS



                                                                                              Halaman/
                                                                                                Page

Laporan Auditor Independen/Independent Auditor’s Report

Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian
  PT Golden Energy Mines Tbk dan Entitas Anak untuk Tahun-tahun yang Berakhir
  31 Desember 2024 dan 2023/
The Directors’ Statement on the Responsibility for the Consolidated Financial Statements of
  PT Golden Energy Mines Tbk and Its Subsidiaries for the Years Ended
  December 31, 2024 and 2023

LAPORAN KEUANGAN KONSOLIDASIAN – Untuk Tahun-tahun yang Berakhir
  31 Desember 2024 dan 2023/
CONSOLIDATED FINANCIAL STATEMENTS – For the Years Ended December 31, 2024 and
  2023

   Laporan Posisi Keuangan Konsolidasian/
   Consolidated Statements of Financial Position                                                 1

   Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian/
   Consolidated Statements of Profit or Loss and Other Comprehensive Income                      3

   Laporan Perubahan Ekuitas Konsolidasian/
   Consolidated Statements of Changes in Equity                                                  4

   Laporan Arus Kas Konsolidasian/
   Consolidated Statements of Cash Flows                                                         5

   Catatan atas Laporan Keuangan Konsolidasian/
   Notes to Consolidated Financial Statements                                                    6

Lampiran/Attachment

INFORMASI TAMBAHAN - LAPORAN KEUANGAN TERSENDIRI ENTITAS INDUK - Untuk
Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023/
SUPPLEMENTARY INFORMATION – PARENT ENTITY FINANCIAL INFORMATION - For the
Years Ended December 31, 2024 and 2023

   Laporan Posisi Keuangan Entitas Induk/
   Parent Entity Statements of Financial Position                                                i.1

   Laporan Laba Rugi dan Penghasilan Komprehensif Lain Entitas Induk/
   Parent Entity Statements of Profit or Loss and Other Comprehensive Income                     i.3

   Laporan Perubahan Ekuitas Entitas Induk/
   Parent Entity Statements of Changes in Equity                                                 i.4

   Laporan Arus Kas Entitas Induk/
   Parent Entity Statements of Cash Flows                                                        i.5
Page 150
MIRAWATI SENSI IDRIS                                                                                   MOORE
Registered Public Accountants
Business License No. 1353/KM.l/2016
lntiland Tower, 8th Floor
JI. Jenderal Sudirman, Kav 32
Jakarta - 10220
INDONESIA

T +62-21-570 8111
F +62-21-572 2737




                    Laporan Auditor lndependen                              Independent Auditor's Report


  No. 00109/2.1090/AU.1/02/0155-2/1/111/2025                  No. 00109/2.1090/AU.1/02/0155-2/1/111/2025

                                                             The Stockholders, Board of Commissioners, and
  Pemegang Saham, Dewan Komisaris dan Direksi                Directors
  PT Golden Energy Mines Tbk                                 PT Golden Energy Mines Tbk

  Opini                                                      Opinion

   Kami telah mengaudit laporan keuangan konsolidasian       We have audited the consolidated financial
   PT Golden Energy Mines Tbk (Perusahaan) dan entitas       statements of PT Golden Energy Mines Tbk
  anaknya (Grup), yang terdiri dari laporan posisi           (the Company) and its subsidiaries (the Group), which
  keuangan konsolidasian tanggal 31 Desember 2024,           comprise the consolidated statement of financial
  serta laporan laba rugi dan penghasilan komprehensif       position as of December 31, 2024, and the
  lain   konsolidasian,   laporan    perubahan     ekuitas   consolidated statement of profit or loss and other
  konsolidasian, dan laporan arus kas konsolidasian untuk    comprehensive income, consolidated statement of
  tahun yang berakhir pada tanggal tersebut, serta catatan   changes in equity and consolidated statement of cash
  atas laporan keuangan konsolidasian, termasuk              flows for the year then ended, and notes to the
  informasi kebijakan akuntansi material.                    consolidated financial statements, including material
                                                             accounting policy information.

  Menurut opini kami, laporan keuangan konsolidasian         In our opinion, the accompanying consolidated
  terlampir menyajikan secara wajar, dalam semua hal         financial statements present fairly, in all material
  yang material, posisi keuangan konsolidasian Grup          respects, the consolidated financial position of the
  tanggal 31 Desember 2024, serta kinerja keuangan           Group as of December 31, 2024 and its consolidated
  konsolidasian dan arus kas konsolidasiannya untuk          financial performance and its consolidated cash flows
  tahun yang berakhir pada tanggal tersebut, sesuai          for the year then ended in accordance with
  dengan Standar Akuntansi Keuangan di Indonesia.            Indonesian Financial Accounting Standards.

  Basis Opini                                                Basis for Opinion

  Kami melaksanakan audit kami berdasarkan Standar           We conducted our audit in accordance with Standards
 Audit yang ditetapkan oleh lnstitut Akuntan Publik          on Auditing established by the Indonesian Institute of
  Indonesia. Tanggung jawab kami menurut standar             Certified Public Accountants. Our responsibilities
 tersebut    diuraikan   lebih lanjut dalam     bagian       under those standards are further described in the
 Tanggung Jawab Auditor terhadap Audit atas Laporan          Auditor's Responsibilities for the Audit of the
 Keuangan       Konsolidasian  pada     laporan   kami.      Consolidated Financial Statements section of our
 Kami independen terhadap Grup berdasarkan ketentuan         report. We are independent of the Group in
 etika yang relevan dalam audit kami atas laporan            accordance with the ethical requirements that are
 keuangan konsolidasian di Indonesia, dan kami telah         relevant to our audit of the consolidated financial
 memenuhi tanggung jawab etika lainnya berdasarkan           statements in Indonesia, and we have fulfilled our
 ketentuan tersebut. Kami yakin bahwa bukti audit yang       other ethical responsibilities in accordance with these
 telah kami peroleh adalah cukup dan tepat untuk             requirements. We believe that the audit evidence we
 menyediakan suatu basis bagi opini audit kami.              have obtained is sufficient and appropriate to provide
                                                             a basis for our opinion .




                                                                                          An independent member of
                                                                                       Moore Global Network Limited-
                                                                       members in principal cities throughout the world
Page 151
MIRAWATI SENSI IDRIS                                                                                                MOORE

    Hal Audit Utama                                                      Key Audit Matters

     Hal audit utama adalah hal-hal yang, menurut                         Key audit matters are those matters that, in our
    pertimbangan profesional kami, merupakan hal yang                    professional judgment, were of most significance in
    paling signifikan dalam audit kami atas laporan                      our audit of the consolidated financial statements of
    keuangan periode kini. Hal-hal tersebut disampaikan                  the current period. These matters were addressed in
    dalam konteks audit kami atas laporan keuangan secara                the context of our audit of the consolidated financial
    keseluruhan, dan dalam merumuskan opini kami atas                    statements as a whole, and in forming our opinion
    laporan keuangan konsolidasian terkait, kami tidak                   thereon, and we do not provide a separate opinion on
    menyatakan suatu opini terpisah atas hal audit utama                 these matters.
    tersebut.

    Hal audit utama yang diidentifikasi dalam audit kami                 The key audit matter identified in our audit is as
    adalah sebagai berikut:                                              follows:

    Pengujian penurunan nilai aset pertambangan, aset                    Impairment assessment of mine             properties,
    tetap dan goodwill                                                   property and equipment and goodwill

Grup telah melakukan pengujian penurunan nilai untuk                     The Group performs impairment testing for mine
aset pertambangan dan aset tetap yang dimiliki oleh                      properties and property and equipment held by the
entitas anak yang mengalami kerugian berdasarkan                         loss-making subsidiaries based on the analysis of
analisis indikator penurunan nilai yang diidentifikasi oleh              indicators for impairment identified by management to
manajemen atas masing-masing entitas anak atau unit                      each of the subsidiaries or cash-generating units
penghasil kas (UPK). Selain itu, Grup memiliki goodwill                  (CGUs). In addition, the Group has goodwill from
dari kombinasi bisnis yang harus diuji untuk penurunan                   business combinations which is required to be tested
nilai paling sedikit setiap tahun. Grup melakukan                        for impairment at least annually. The Group
pengujian penurunan nilai untuk aset-aset tersebut                       performed the impairment testing for these assets
menggunakan nilai pakai UPK.                                             using the CGU's value-in-use (VIU).

Pengujian penurunan nilai merupakan hal audit utama                  The impairment testing is a key audit matter because
 karena proses penilaian memerlukan pertimbangan                     the    assessment     process    requires     significant
signifikan manajemen dan perhitungan nilai pakai                     management judgment and the VI U calculation is
menggunakan asumsi-asumsi berdasarkan tingkat                        based on assumptions that are subject to higher level
ketidakpastian estimasi yang tinggi, khususnya harga                 of estimation uncertainty, specifically, selling prices,
jual, biaya produksi, dan cadangan batubara.                         production costs, and coal reserve.

Pengungkapan terkait dengan aset pertambangan, aset                  The related disclosures on the Group's mine
tetap dan goodwill masing-masing terdapat dalam                      properties, property and equipment, and goodwill are
Catatan 11, 9, dan 32 atas laporan keuangan                          included in Notes 11, 9, and 32, respectively, to the
konsolidasian.                                                       consolidated financial statements.

Bagaimana audit kami merespons ha/ audit utama                       How our audit addressed the key audit matter

•      Kami memeriksa jika proyeksi arus kas berdasarkan             •      We checked if the cash flows projection was
       pada proyeksi manajemen yang telah disetujui dan                     based on approved management forecast and
       mengevaluasi   proses     penyusunan      proyeksi                   evaluated management's forecasting process,
       manajemen tersebut, termasuk asumsi-asumsi                           including key assumptions used, such as coal
       utama yang digunakan seperti harga batubara dan                      price and operating costs.
       biaya operasi.

•      Kami mencocokan estimasi cadangan batubara ke                 •      We reconciled the coal reserves estimates to the
       laporan pakar manajemen yang memiliki kualifikasi.                   report of management's expert.

•      Kami menilai kecukupan atas pengungkapan yang                 •      We assessed the adequacy of the disclosures
       dibuat atas penilaian penurunan nilai tersebut,                      made on these impairment assessments,
       termasuk tentang asumsi-asumsi yang paling                           including those assumptions to which the
       sensitif terhadap hasil pengujian, khususnya yang                    outcome of the impairment test is most sensitive,
       memiliki efek paling signifikan pada penentuan                       specifically, those that have the most significant
       jumlah yang dapat dipulihkan untuk aset                              effect on the determination of the recoverable
       pertambangan , aset tetap dan goodwill.                              amount of mine properties, property and
                                                                            equipment, and goodwill.




                                                            - ii -
Page 152
MIRAWATI SENSI IDRIS                                                                                            MOORE

 Hal-hal Lain                                                       Other Matter

 Audit kami atas laporan keuangan konsolidasian                     Our audit of the accompanying consolidated financial
  Perusahaan        dan      entitas  anaknya       tanggal         statements of the Company and its subsidiaries as of
 31 Desember 2024 dan untuk tahun yang berakhir pada                December 31, 2024 and for the year then ended was
 tanggal tersebut terlampir, dilaksanakan dengan tujuan             performed for the purpose of forming an opinion on
 untuk merumuskan suatu opini atas laporan keuangan                 such consolidated financial statements taken as a
 konsolidasian tersebut secara keseluruhan. lnformasi               whole. The accompanying financial information of the
 keuangan Perusahaan (entitas induk) terlampir, yang                Company (parent entity), which comprises the Parent
 terdiri dari laporan posisi keuangan Entitas lnduk tanggal         Entity statement of financial position as of
 31 Desember 2024, serta laporan laba rugi dan                      December 31, 2024, and the Parent Entity statement
 penghasilan komprehensif lain Entitas lnduk, laporan               of profit or loss and other comprehensive income,
 perubahan ekuitas Entitas lnduk, dan Japoran arus kas              Parent Entity statement of changes in equity, and
 Entitas lnduk untuk tahun yang berakhir pada tanggal               Parent Entity statement of cash flows for the year then
 tersebut (secara kolektif disebut sebagai "lnformasi               ended (collectively referred to as the "Parent Entity
 Keuangan Entitas lnduk"), yang disajikan sebagai                   Financial Information"), which is presented as a
 informasi tambahan terhadap laporan keuangan                       supplementary information to the accompanying
konsolidasian terlampir, disajikan untuk tujuan analisis            consolidated financial statements, is presented for the
tambahan dan bukan merupakan bagian dari laporan                    purpose of additional analysis and is not a required
keuangan konsolidasian terlampir yang diharuskan                    part of the accompanying consolidated financial
menurut Standar Akuntansi Keuangan di Indonesia.                   statements under Indonesian Financial Accounting
lnformasi Keuangan Entitas lnduk merupakan tanggung                Standards. The Parent Entity Financial Information is
jawab manajemen serta dihasilkan dari dan berkaitan                the responsibility of management and was derived
secara langsung dengan catatan akuntansi dan catatan               from and relates directly to the underlying accounting
lainnya yang mendasarinya yang digunakan untuk                     and other records used to prepare the accompanying
menyusun laporan keuangan konsolidasian terlampir.                 consolidated financial statements. The Parent Entity
lnformasi Keuangan Entitas lnduk telah menjadi objek               Financial Information has been subjected to the
prosedur audit yang diterapkan dalam audit atas laporan            auditing procedures applied in the audit of the
keuangan konsolidasian terlampir berdasarkan Standar               accompanying consolidated financial statements in
Audit yang ditetapkan oleh lnstitut Akuntan Publik                 accordance with Standards on Auditing established by
Indonesia. Menurut opini kami, lnformasi Keuangan                  the Indonesian         Institute of Certified    Public
Entitas lnduk disajikan secara wajar, dalam semua hal              Accountants. In our opinion, the Parent Entity
yang material, berkaitan dengan laporan keuangan                   Financial Information is fairly stated, in all material
konsolidasian terlampir secara keseluruhan .                       respects,    in    relation     to the   accompanying
                                                                   consolidated financial statements taken as a whole.

lnformasi Lain                                                     Other Information

Manajemen bertanggung jawab atas informasi lain.                   Management is responsible for the other information.
lnformasi lain terdiri dari informasi yang tercantum dalam         The other information consists of information
Laporan Tahunan, tetapi tidak mencantumkan laporan                 contained in the Annual Report but does not include
keuangan konsolidasian dan laporan auditor kami.                   the consolidated financial statements and our
Laporan Tahunan diharapkan akan tersedia bagi kami                 auditor's report. The Annual Report are expected to
setelah tanggal laporan auditor ini.                               be made available to us after the date of this auditor's
                                                                   report.

Opini kami atas laporan keuangan konsolidasian tidak               Our opinion on the consolidated financial statements
mencakup informasi lain, dan oleh karena itu, kami tidak           does not cover the other information and we do not
menyatakan bentuk keyakinan apapun atas informasi                  and will not express any form of assurance conclusion
lain tersebut.                                                     thereon.

Sehubungan dengan audit kami atas laporan keuangan                 In connection with our audit of the consolidated
konsolidasian, tanggung jawab kami adalah untuk                    financial statements, our responsibility is to read the
membaca informasi lain jika tersedia dan, dalam                    other information when it becomes available and, in
melaksanakannya,      mempertimbangkan       apakah                doing so, consider whether the other information is
informasi   lain  mengandung    ketidakkonsistensian               materially inconsistent with the consolidated financial
material dengan laporan keuangan konsolidasian atau                statements or our knowledge obtained in the audit, or
pemahaman yang kami peroleh selama audit, atau                     otherwise appears to be materially misstated.
mengandung kesalahan penyajian material.




                                                         - iii -
Page 153
MIRAWATI SENSI IDRIS                                                                                            MOORE

 Ketika kami membaca Laporan Tahunan, jika kami                    When we read the Annual Report, if we conclude that
 menyimpulkan bahwa terdapat suatu kesalahan                       there is a material misstatement therein, we are
 penyajian material di dalamnya, kami diharuskan untuk             required to communicate the matter to those charged
 mengomunikasikan hal tersebut kepada pihak yang                   with governance and take appropriate actions in
 bertanggung jawab atas tata kelola dan mengambil                  accordance with Standards on Auditing established by
 tindakan tepat berdasarkan Standar Audit yang                     the    Indonesian Institute of Certified Public
 ditetapkan oleh lnstitut Akuntan Publik Indonesia.                Accountants .

 Tanggung Jawab Manajemen dan Pihak yang                           Responsibilities of Management and Those
 Bertanggung Jawab atas Tata Kelola terhadap                       Charged with Governance for the Consolidated
 Laporan Keuangan Konsolidasian                                    Financial Statements

 Manajemen bertanggung jawab atas penyusunan dan                  Management is responsible for the preparation and
 penyajian wajar laporan keuangan konsolidasian                   fair presentation of the consolidated financial
 tersebut sesuai dengan Standar Akuntansi Keuangan di             statements in accordance with Indonesian Financial
 Indonesia, dan atas pengendalian internal yang                   Accounting Standards, and for such internal control as
 dianggap perlu oleh manajemen untuk memungkinkan                 management determines is necessary to enable the
 penyusunan laporan keuangan konsolidasian yang                   preparation of consolidated financial statements that
 bebas dari kesalahan penyajian material, baik yang               are free from material misstatement, whether due to
 disebabkan oleh kecurangan maupun kesalahan.                     fraud or error.

Dalam penyusunan laporan keuangan konsolidasian,                  In preparing the consolidated financial statements,
manajemen        bertanggung     jawab    untuk   menilai         management is responsible for assessing the Group's
kemampuan            Grup     dalam     mempertahankan            ability to continue as a going concern, disclosing, as
kelangsungan usahanya, mengungkapkan, sesuai                      applicable, matters related to going concern and using
dengan kondisinya, hal-hal yang berkaitan dengan                  the going concern basis of accounting unless
kelangsungan       usaha,    dan    menggunakan basis             management either intends to liquidate the Group or
akuntansi kelangsungan usaha, kecuali manajemen                   to cease operations; or has no realistic alternative but
memiliki     intensi    untuk melikuidasi    Grup atau            to do so.
menghentikan operasi , atau tidak memiliki alternatif yang
realistis selain melaksanakannya.

Pihak yang bertanggung jawab atas tata kelola                     Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses pelaporan                overseeing the Group's financial reporting process.
keuangan Grup.

Tanggung Jawab Auditor terhadap              Audit   atas         Auditor's Responsibilities for the Audit of the
Laporan Keuangan Konsolidasian                                    Consolidated Financial Statements

 Tujuan kami adalah untuk memeroleh keyakinan                     Our objectives are to obtain reasonable assurance
 memadai      tentang   apakah     laporan    keuangan            about whether the consolidated financial statements
 konsolidasian secara keseluruhan bebas dari kesalahan            as a whole are free from material misstatement,
 penyajian material, baik yang disebabkan oleh                    whether due to fraud or error, and to issue an
 kecurangan maupun kesalahan, dan untuk menerbitkan               auditor's report that includes our opinion. Reasonable
 laporan auditor yang mencakup opini kami. Keyakinan              assurance is a high level of assurance but is not a
memadai merupakan suatu tingkat keyakinan tinggi,                 guarantee that an audit conducted in accordance with
namun bukan merupakan suatu jaminan bahwa audit                   the Standards on Auditing will always detect a
yang dilaksanakan berdasarkan Standar Audit akan                  material misstatement when it exists. Misstatements
selalu mendeteksi kesalahan penyajian material ketika             can arise from fraud or error and are considered
hal tersebut ada. Kesalahan penyajian dapat disebabkan            material if, individually or in the aggregate, they could
oleh kecurangan maupun kesalahan dan dianggap                     reasonably be expected to influence the economic
material jika, baik secara individual maupun secara               decisions of users taken on the basis of these
agregat, dapat diekspektasikan secara wajar akan                  consolidated financial statements .
memengaruhi keputusan ekonomi yang diambil oleh
pengguna berdasarkan laporan keuangan konsolidasian
tersebut.




                                                         - iv -
Page 154
MIRAWATI SENSI IDRIS                                                                                             MOORE

    Sebagai bagian dari suatu audit berdasarkan Standar               As part of an audit in accordance with Standards on
    Audit, kami menerapkan pertimbangan profesional dan               Auditing, we exercise professional judgment and
    mempertahankan skeptisisme profesional selama audit.              maintain professional skepticism throughout the audit.
    Kami juga:                                                        We also:

    •   Mengidentifikasi dan menilai risiko kesalahan                 •     Identify and assess the risks of material
        penyajian material dalam laporan keuangan                          misstatement of the consolidated financial
        konsolidasian,   baik yang disebabkan oleh                         statements, whether due to fraud or error,
        kecurangan maupun kesalahan, mendesain dan                         design and perform audit procedures responsive
        melaksanakan prosedur audit yang responsif                         to those risks, and obtain audit evidence that is
        terhadap risiko tersebut, serta memeroleh bukti                    sufficient and appropriate to provide a basis for
        audit yang cukup dan tepat untuk menyediakan                       our opinion. The risk of not detecting a material
        basis bagi opini kami. Risiko tidak terdeteksinya                  misstatement resulting from fraud is higher than
        kesalahan penyajian material yang disebabkan                       for one resulting from error, as fraud may involve
        oleh kecurangan lebih tinggi dari yang disebabkan                  collusion,    forgery,   intentional    omissions,
        oleh kesalahan, karena kecurangan dapat                            misrepresentations, or the override of internal
        melibatkan kolusi, pemalsuan, penghilangan                         control.
        secara    sengaja,   pernyataan      salah,  atau
        pengabaian pengendalian internal.

    •   Memeroleh       suatu     pemahaman       tentang             •    Obtain an understanding of internal control
        pengendalian internal yang relevan dengan audit                    relevant to the audit in order to design audit
        untuk mendesain prosedur audit yang tepat sesuai                   procedures that are appropriate in the
        dengan kondisinya, tetapi bukan untuk tujuan                       circumstances, but not for the purpose of
        menyatakan       opini    atas    keefektivitasan                  expressing an opinion on the effectiveness of
        pengendalian internal Grup.                                        the Group's internal control.

•       Mengevaluasi ketepatan kebijakan akuntansi yang           •        Evaluate the appropriateness of accounting
        digunakan serta kewajaran estimasi akuntansi dan                   policies used and the reasonableness of
        pengungkapan     terkait  yang     dibuat   oleh                   accounting estimates and related disclosures
        manajemen.                                                         made by management.

•        Menyimpulkan ketepatan penggunaan basis                  •        Conclude     on    the     appropriateness    of
         akuntansi kelangsungan usaha oleh manajemen                       management's use of the going concern basis of
         dan, berdasarkan bukti audit yang diperoleh,                      accounting and, based on the audit evidence
         apakah terdapat suatu ketidakpastian material                     obtained, whether a material uncertainty exists
         yang terkait dengan peristiwa atau kondisi yang                   related to events or conditions that may cast
         dapat menyebabkan keraguan signifikan atas                       significant doubt on the Group's ability to
         kemampuan      Grup    untuk    mempertahankan                   continue as a going concern. If we conclude that
         kelangsungan      usahanya.      Ketika     kami                 a material uncertainty exists, we are required to
         menyimpulkan       bahwa      terdapat     suatu                 draw attention in our auditor's report to the
        ketidakpastian material, kami diharuskan untuk                    related disclosures in the consolidated financial
        menarik perhatian dalam laporan auditor kami ke                   statements or, if such disclosures are
        pengungkapan terkait dalam laporan keuangan                       inadequate, to modify our opinion. Our
        konsolidasian atau, jika pengungkapan tersebut                    conclusions are based on the audit evidence
        tidak memadai, harus menentukan apakah perlu                      obtained up to the date of our auditor's report.
        untuk memodifikasi opini kami. Kesimpulan kami                    However, future events or conditions may cause
        didasarkan pada bukti audit yang diperoleh hingga                 the Group to cease to continue as a going
        tanggal laporan auditor kami. Namun, peristiwa                    concern .
        atau kondisi masa depan dapat menyebabkan
        Grup tidak dapat mempertahankan kelangsungan
        usaha.

•       Mengevaluasi penyajian, struktur, dan isi laporan         •       Evaluate the overall presentation, structure, and
        keuangan konsolidasian secara keseluruhan,                        content of the consolidated financial statements,
        termasuk pengungkapannya, dan apakah laporan                      including the disclosures, and whether the
        keuangan konsolidasian mencerminkan transaksi                     consolidated financial statements represent the
        dan peristiwa yang mendasarinya dengan suatu                      underlying transactions and events in a manner
        cara yang mencapai penyajian wajar.                               that achieves fair presentation.




                                                            -v-
Page 155
MIRAWATI SENSI IDRIS                                                                                         MOORE

 •    Memeroleh bukti audit yang cukup dan tepat terkait       •     Obtain sufficient appropriate audit evidence
      informasi keuangan entitas atau aktivitas bisnis               regarding the financial information of the entities
      dalam Grup untuk menyatakan opini atas laporan                 or business activities within the Group to express
      keuangan konsolidasian. Kami bertanggung jawab                 an opinion on the consolidated financial
      atas arahan, supervisi, dan pelaksanaan audit                  statements. We are responsible for the direction,
      Grup. Kami tetap bertanggung jawab sepenuhnya                  supervision, and performance of the group audit.
      atas opini audit kami.                                         We remain solely responsible for our audit
                                                                     opinion.

 Kami       mengomunikasikan      kepada  pihak    yang        We communicate with those charged with governance
 bertanggung jawab atas tata kelola mengenai, antara           regarding, among other matters, the planned scope
 lain, ruang lingkup dan saat yang direncanakan atas           and timing of the audit and significant audit findings,
 audit, serta temuan audit signifikan, termasuk setiap         including any significant deficiencies in internal control
 defisiensi signifikan dalam pengendalian internal yang        that we identify during our audit.
 teridentifikasi oleh kami selama audit.

 Kami juga memberikan suatu pernyataan kepada                  We also provide those charged with governance with
 pihak yang bertanggung jawab atas tata kelola bahwa           a statement that we have complied with relevant
 kami telah mematuhi ketentuan etika yang relevan              ethical requirements regarding independence, and to
 mengenai       independensi, dan     mengomunikasikan         communicate with them all relationships and other
 seluruh hubungan, serta hal-hal lain yang dianggap            matters that may reasonably be thought to bear on
 secara wajar berpengaruh terhadap independensi kami,          our independence, and where applicable, related
 dan, jika relevan, pengamanan terkait.                        safeguards.

 Dari hal-hal yang dikomunikasikan kepada pihak                 From the matters communicated with those charged
 yang bertanggung jawab atas tata kelola, kami                 with governance, we determine those matters that
 menentukan hal-hal tersebut yang paling signifikan            were of most significance in the audit of the
dalam audit atas laporan keuangan konsolidasian                consolidated financial statements of the current period
 periode kini dan oleh karenanya menjadi hal audit             and are therefore the key audit matters. We describe
 utama. Kami menguraikan hal audit utama dalam                 these matters in our auditor's report unless law or
laporan auditor kami, kecuali peraturan perundang-             regulation precludes public disclosure about the
undangan melarang pengungkapan publik tentang hal              matter or when, in extremely rare circumstances, we
tersebut atau ketika, dalam kondisi yang sangat jararig        determine that a matter should not be communicated
terjadi, kami menentukan bahwa suatu hal tidak boleh           in our report because the adverse consequences of
dikomunikasikan     dalam    laporan    kami    karena         doing so would reasonably be expected to outweigh
konsekuensi merugikan dari mengomunikasikan hal                the public interest benefits of such communication.
tersebut akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi tersebut



MIRAWATI SENSI IDRIS




Maria Leckzinska
lzin Akuntan Publik No. AP.0155/
Certified Public Accountant License No. AP.0155

3 Maret 2025/March 3, 2025




                                                      - vi -
Page 156

          
Page 157

          
Page 158
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK                                                         PT GOLDEN ENERGY MINES Tbk AND ITS SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                                                          Consolidated Statements of Financial Position
31 Desember 2024 dan 2023                                                                                                        December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)         (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                                          Catatan/
                                                             2024          Notes            2023


ASET                                                                                                            ASSETS

ASET LANCAR                                                                                                     CURRENT ASSETS
Kas dan setara kas                                          326.929.041     4              318.495.046          Cash and cash equivalents
Piutang usaha                                                               6                                   Trade receivables
   Pihak berelasi                                            10.827.962     35              18.043.833             Related parties
   Pihak ketiga                                             191.864.080                    273.863.355             Third parties
Piutang lain-lain - pihak ketiga                                134.483                        137.839          Other receivables - third parties
Persediaan                                                   23.133.833     7               40.366.732          Inventories
Pajak dibayar di muka                                       121.349.752     33              90.589.335          Prepaid taxes
Uang muka dan biaya dibayar di muka                          31.822.911     8              100.478.041          Advances and prepaid expenses

Jumlah Aset Lancar                                          706.062.062                    841.974.181          Total Current Assets

ASET TIDAK LANCAR                                                                                               NON-CURRENT ASSETS
Piutang lain-lain - pihak ketiga                                536.976                        739.649          Other receivables - third parties
Dana yang dibatasi pencairannya                              24.660.166     5               20.623.105          Restricted funds
Aset pajak tangguhan                                          6.417.420     33               8.502.938          Deferred tax assets
Aset tetap - setelah dikurangi akumulasi                                                                        Property and equipment - net of accumulated
   penyusutan sebesar US$ 90.522.677                                                                               depreciation of US$ 90,522,677
   dan US$ 78.010.475 masing-masing                                                                                and US$ 78,010,475 as of
   pada tanggal 31 Desember 2024 dan                                                                               December 31, 2024 and 2023,
   2023                                                     109.889.241     9              103.927.929             respectively
Aset hak guna - bersih                                        2.235.227     17               2.563.297          Right-of-use assets - net
Aset eksplorasi dan evaluasi                                    451.230     10                 473.066          Exploration and evaluation assets
Aset pertambangan - setelah dikurangi akumulasi                                                                 Mine properties - net of accumulated amortization
   amortisasi sebesar US$ 186.495.328 dan                                                                          of US$ 186,495,328 and US$ 159,898,679
   US$ 159.898.679 masing-masing pada tanggal                                                                       as of December 31, 2024 and 2023,
   31 Desember 2024 dan 2023 dan kerugian                                                                          respectively, and impairment loss
   penurunan nilai sebesar US$ 7.835.487                                                                           of US$ 7,835,487 as of
   pada tanggal 31 Desember 2024                            308.953.540     11             256.746.088             December 31, 2024
Goodwill - bersih                                            17.206.169     32              24.391.364          Goodwill - net
Aset takberwujud - piranti lunak - bersih                        17.090     12                  17.862          Intangible asset - software - net
Aset tidak lancar lainnya                                    63.142.766     13              52.082.766          Other non-current assets

Jumlah Aset Tidak Lancar                                    533.509.825                    470.068.064          Total Non-current Assets

JUMLAH ASET                                               1.239.571.887                   1.312.042.245         TOTAL ASSETS




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                             See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                           which are an integral part of the consolidated financial statements.



                                                                            -1-
Page 159
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK                                                         PT GOLDEN ENERGY MINES Tbk AND ITS SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                                                           Consolidated Statements of Financial Position
31 Desember 2024 dan 2023                                                                                                         December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)          (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                                           Catatan/
                                                             2024           Notes            2023


LIABILITAS DAN EKUITAS                                                                                        LIABILITIES AND EQUITY

LIABILITAS                                                                                                    LIABILITIES

LIABILITAS JANGKA PENDEK                                                                                      CURRENT LIABILITIES
Utang bank jangka pendek                                    242.060.169      14             251.786.567       Short-term bank loans
Utang usaha                                                                  15                               Trade payables
  Pihak berelasi                                             55.633.959      35              51.792.492         Related parties
  Pihak ketiga                                              192.359.669                     285.889.328         Third parties
Utang lain-lain                                                                                               Other payables
  Pihak berelasi                                                  8.951      35                   9.384         Related parties
  Pihak ketiga                                                  380.545                         211.168         Third parties
Utang pajak                                                   4.547.117      33               8.334.307       Taxes payable
Beban akrual                                                 16.345.798      16              16.438.334       Accrued expenses
Uang muka pelanggan - pihak ketiga                                8.541                           8.954       Advances from customers - third parties
Utang jangka panjang yang akan jatuh tempo
  dalam waktu satu tahun                                                                                      Current portion of long-term liabilities
  Utang bank                                                 10.000.000      14                       -         Bank loan
  Utang sewa                                                    240.256      17                 907.072         Lease liabilities

Jumlah Liabilitas Jangka Pendek                             521.585.005                     615.377.606       Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                                     NON-CURRENT LIABILITIES
Liabilitas imbalan kerja karyawan                             4.157.108      31               3.839.177       Employee benefits liability
Liabilitas pajak tangguhan                                   15.752.245      33              23.026.168       Deferred tax liabilities
Utang jangka panjang - setelah dikurangi bagian
   yang akan jatuh tempo dalam waktu satu tahun                                                               Long-term liabilities - net of current portion
   Utang bank                                                30.000.000      14                        -        Bank loan
   Utang sewa                                                   326.601      17                  429.181        Lease liabilities
Provisi reklamasi dan penutupan tambang                       6.530.229      19                6.160.725      Provision for reclamation and mine closure
Liabilitas jangka panjang lainnya                                92.810                           97.301      Other non-current liabilities

Jumlah Liabilitas Jangka Panjang                             56.858.993                      33.552.552       Total Non-current Liabilities

JUMLAH LIABILITAS                                           578.443.998                     648.930.158       TOTAL LIABILITIES

EKUITAS                                                                                                       EQUITY

Ekuitas yang dapat diatribusikan                                                                              Equity attributable to Owners
  kepada Pemilik Entitas Induk                                                                                   of the Parent Company
Modal saham - nilai nominal Rp 100 per saham                                                                  Capital stock - Rp 100 par value per share
  Modal dasar - 20.000.000.000 saham                                                                             Authorized - 20,000,000,000 shares
  Modal ditempatkan dan disetor penuh -                                                                          Issued and fully paid -
      5.882.353.000 saham                                    65.065.961      20              65.065.961             5,882,353,000 shares
Tambahan modal disetor - neto                               229.019.198      21             229.019.198       Additional paid-in capital - net
Selisih nilai transaksi dengan                                                                                Difference arising from transactions
  kepentingan nonpengendali                                   1.228.954      23                1.228.954         with non-controlling interests
Saldo laba                                                                                                    Retained earnings
  Dicadangkan                                                 7.516.287      22               6.516.287          Appropriated
  Belum dicadangkan                                         427.408.734                     429.602.520          Unappropriated
Komponen ekuitas lainnya                                    (78.080.120)                    (77.682.507)      Other equity component
Jumlah                                                      652.159.014                     653.750.413       Total
Kepentingan nonpengendali                                     8.968.875      24               9.361.674       Non-controlling interests

JUMLAH EKUITAS                                              661.127.889                     663.112.087       TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS                             1.239.571.887                    1.312.042.245      LIABILITIES AND EQUITY




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                              See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                            which are an integral part of the consolidated financial statements.



                                                                             -2-
Page 160
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK                                                                       PT GOLDEN ENERGY MINES Tbk AND ITS SUBSIDIARIES
Laporan Laba Rugi                                                                                                                 Consolidated Statements of Profit or Loss
dan Penghasilan Komprehensif Lain Konsolidasian                                                                                           and Other Comprehensive Income
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                                 For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                        (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                                             Catatan/
                                                              2024            Notes          2023


PENDAPATAN USAHA                                          2.705.520.884        25         2.901.836.296      REVENUES

BEBAN POKOK PENJUALAN                                     1.600.942.516        26         1.755.785.215      COST OF REVENUES

LABA KOTOR                                                1.104.578.368                   1.146.051.081      GROSS PROFIT

BEBAN USAHA                                                                                                  OPERATING EXPENSES
Beban penjualan                                             294.704.581        27          316.463.404       Selling expenses
Beban umum dan administrasi                                 168.893.978        28          135.106.465       General and administrative expenses
Beban eksplorasi                                                489.674                        421.234       Exploration costs

Jumlah Beban Usaha                                          464.088.233                    451.991.103       Total Operating Expenses

LABA USAHA                                                  640.490.135                    694.059.978       OPERATING PROFIT

PENGHASILAN (BEBAN) LAIN-LAIN                                                                                OTHER INCOME (EXPENSES)
Pendapatan bunga                                             10.612.680        35           11.115.046       Interest income
Beban keuangan lainnya                                       (6.950.480)       29           (5.747.416)      Other financial charges
Keuntungan (kerugian) selisih kurs
  mata uang asing - bersih                                     6.204.443                     (6.449.322)     Gain (loss) on foreign exchange - net
Beban bunga                                                   (5.774.010)                    (7.208.125)     Interest expense
Lain-lain - bersih                                            (8.822.502)      30            (2.789.186)     Others - net

Beban Lain-lain - Bersih                                      (4.729.869)                   (11.079.003)     Other Expenses - Net

LABA SEBELUM PAJAK                                          635.760.266                    682.980.975       PROFIT BEFORE TAX

BEBAN (PENGHASILAN) PAJAK                                                      33                            TAX EXPENSE (BENEFIT)
Kini                                                        150.674.408                    155.122.021       Current
Tangguhan                                                     1.954.179                       (889.458)      Deferred

Beban Pajak - Bersih                                        152.628.587                    154.232.563       Tax Expense - Net

LABA TAHUN BERJALAN                                         483.131.679                    528.748.412       PROFIT FOR THE YEAR

PENGHASILAN (RUGI) KOMPREHENSIF LAIN                                                                         OTHER COMPREHENSIVE INCOME (LOSS)
                                                                                                             Items that will be reclassified subsequently to profit and loss -
Pos yang akan direklasifikasi ke laba rugi                                                                      Foreign exchange differences arising from
  Selisih kurs penjabaran laporan keuangan                    (1.043.038)                     (328.225)           financial statements translation
Pos yang tidak akan direklasifikasi ke laba rugi                                                             Items that will not be reclassified subsequently to profit and loss -
  Pengukuran kembali liabilitas imbalan kerja - bersih          190.811                       (229.598)         Remeasurement of defined benefit liability - net
Penghasilan (rugi) komprehensif lain - bersih                   (852.227)                     (557.823)      Other comprehensive income (loss) - net
JUMLAH PENGHASILAN KOMPREHENSIF                                                                              TOTAL COMPREHENSIVE INCOME
  TAHUN BERJALAN                                            482.279.452                    528.190.589         FOR THE YEAR

Laba tahun berjalan yang teratribusikan pada:                                                                Profit for the year attributable to:
  Pemilik entitas induk                                     473.806.214                    518.380.664         Owners of the Parent Company
  Kepentingan nonpengendali                                   9.325.465        24           10.367.748         Non-controlling interests
                                                            483.131.679                    528.748.412

Penghasilan komprehensif yang
  teratribusikan kepada:                                                                                     Comprehensive income attributable to:
  Pemilik entitas induk                                     473.408.601                    517.145.044         Owners of the Parent Company
  Kepentingan nonpengendali                                   8.870.851                     11.045.545         Non-controlling interests
                                                            482.279.452                    528.190.589

LABA BERSIH PER SAHAM DASAR DIATRIBUSIKAN                                                                    EARNINGS PER SHARE ATTRIBUTABLE
  KEPADA PEMILIK ENTITAS INDUK                                       0,081     34                 0,088        TO OWNERS OF THE PARENT COMPANY




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                                           See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                                         which are an integral part of the consolidated financial statements.



                                                                                    -3-
Page 161
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK                                                                                                                                                                                                                          PT GOLDEN ENERGY MINES Tbk AND ITS SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                                                                                                          Consolidated Statements of Changes in Equity
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                                                                                                                                                                                     For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                                                                                                                                                                            (Figures are Presented in United States Dollar, unless Otherwise Stated)


                                                                                                                                                                                                                          `
                                                                                          Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/Equity Attributable to the Owners of the Parent Company
                                                                                                             Selisih
                                                                                                               Nilai                 Komponen Ekuitas Lainnya/
                                                                                                            Transaksi                  Other Equity Component
                                                                                                             dengan             Selisih Kurs
                                                                                                          Kepentingan            Penjabaran
                                                                                                         Nonpengendali/           Laporan
                                                                     Modal Saham       Tambahan            Difference            Keuangan/
                                                                     Ditempatkan         Modal          in Value arising     Foreign Exchange
                                                                     dan Disetor/    Disetor- Bersih/         from              Differences                                        Saldo Laba/Retained Earnings                        Kepentingan
                                                                      Issued and       Additional      Transactions with        Arising from                                   Telah Ditentukan    Belum Ditentukan                   Nonpengendali/
                                                      Catatan/          Paid Up          Paid-in        Non-controlling     Financial Statements    Keuntungan Aktuarial/      Penggunaannya/       Penggunaannya/    Jumlah/         Non-controlling       Jumlah Ekuitas/
                                                                     Capital Stock    Capital - Net         Interests           Translation             Actuarial Gain           Appropriated       Unappropriated     Total            Interests             Total Equity
                                                       Notes

Saldo pada tanggal 1 Januari 2023                                      65.065.961       229.019.198            1.228.954              (76.674.416)               227.529            5.516.287          327.221.856    551.605.369           6.639.270            558.244.639        Balance as of January 1, 2023

Penghasilan (rugi) komprehensif:                                                                                                                                                                                                                                                    Comprehensive income (loss):

Laba tahun berjalan                                                              -                -                     -                       -                       -                   -          518.380.664    518.380.664          10.367.748            528.748.412        Profit for the year

Penghasilan (rugi) komprehensif lain                                             -                -                     -              (1.006.022)              (229.598)                   -                    -      (1.235.620)           677.797                (557.823)      Other comprehensive income (loss)

Jumlah penghasilan komprehensif                                                  -                -                     -              (1.006.022)              (229.598)                   -          518.380.664    517.145.044          11.045.545            528.190.589        Total comprehensive income

Pencadangan saldo laba                                  22                       -                -                     -                       -                       -           1.000.000           (1.000.000)              -                  -                         -     Appropriation of retained earnings

Dividen tunai                                           22                       -                -                     -                       -                       -                   -         (415.000.000)   (415.000.000)                 -            (415.000.000)      Cash dividend

Dividen entitas anak kepada                                                                                                                                                                                                                                                         Dividend of subsidiaries to
   kepentingan nonpengendali                                                     -                -                     -                       -                       -                   -                    -               -         (8.323.141)             (8.323.141)         non-controlling interests

Saldo pada tanggal 31 Desember 2023                                    65.065.961       229.019.198            1.228.954              (77.680.438)                 (2.069)          6.516.287          429.602.520    653.750.413           9.361.674            663.112.087        Balance as of December 31, 2023

Penghasilan (rugi) komprehensif:                                                                                                                                                                                                                                                    Comprehensive income (loss):

Laba tahun berjalan                                                              -                -                     -                       -                       -                   -          473.806.214    473.806.214           9.325.465            483.131.679        Profit for the year

Penghasilan (rugi) komprehensif lain                                             -                -                     -                (588.424)               190.811                    -                    -        (397.613)          (454.614)               (852.227)      Other comprehensive income (loss)

Jumlah penghasilan komprehensif                                                  -                -                     -                (588.424)               190.811                    -          473.806.214    473.408.601           8.870.851            482.279.452        Total comprehensive income

Pencadangan saldo laba                                  22                       -                -                     -                       -                       -           1.000.000           (1.000.000)              -                  -                         -     Appropriation of retained earnings

Dividen tunai                                           22                       -                -                     -                       -                       -                   -         (475.000.000)   (475.000.000)                 -            (475.000.000)      Cash dividend

Dividen entitas anak kepada                                                                                                                                                                                                                                                         Dividend of subsidiaries to
   kepentingan nonpengendali                                                     -                -                     -                       -                       -                   -                    -               -        (9.263.650)              (9.263.650)         non-controlling interests

Saldo pada tanggal 31 Desember 2024                                    65.065.961       229.019.198            1.228.954              (78.268.862)               188.742            7.516.287          427.408.734    652.159.014           8.968.875            661.127.889        Balance as of December 31, 2024




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                                                                                                                                                                                           See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                                                                                                                                                                                         which are an integral part of the consolidated financial statements.



                                                                                                                                                                 -4-
Page 162
PT GOLDEN ENERGY MINES Tbk DAN ENTITAS ANAK                                                                        PT GOLDEN ENERGY MINES Tbk AND ITS SUBSIDIARIES
Laporan Arus Kas Konsolidasian                                                                                                       Consolidated Statements of Cash Flows
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                                  For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                         (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                                      2024                    2023


ARUS KAS DARI AKTIVITAS OPERASI                                                                                   CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan dari pelanggan                                            2.794.735.617          2.802.261.802         Cash receipts from customers
Penerimaan pendapatan keuangan                                          10.612.680             11.100.235         Receipts of finance income
Pembayaran beban keuangan dan biaya keuangan lainnya                   (10.955.373)           (12.303.253)        Payments of finance costs and other financial charges
Pembayaran kepada karyawan                                             (47.194.477)           (38.895.903)        Cash paid to employees
Pembayaran iuran dana hasil produksi batubara dan
  deadrent kepada pemerintah                                       (338.516.623)              (456.143.875)       Royalty fees and deadrent paid to government
Pembayaran kepada kontraktor, pemasok dan lainnya                (1.660.523.312)            (1.643.448.997)       Cash paid to contractors, suppliers and others

Kas diperoleh dari operasi                                             748.158.512            662.570.009         Net cash generated from operations
Pembayaran pajak penghasilan badan                                    (176.377.827)          (271.836.938)        Payments of corporate income tax

Kas Bersih Diperoleh dari Aktivitas Operasi                           571.780.685             390.733.071         Net Cash Provided by Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI                                                                                 CASH FLOWS FROM INVESTING ACTIVITIES
Pembayaran uang muka ganti rugi lahan                                     (593.896)              (252.065)        Payments of advances for land compensations
Kenaikan dana yang dibatasi pencairannya                                (4.452.109)            (8.369.612)        Increase in restricted fund
Perolehan aset tetap                                                   (18.561.725)           (35.918.998)        Acquisitions of property and equipment
Penambahan aset pertambangan                                           (86.852.864)           (53.768.786)        Addition in mine properties

Kas Bersih Digunakan untuk Aktivitas Investasi                        (110.460.594)           (98.309.461)        Net Cash Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN                                                                                 CASH FLOWS FROM FINANCING ACTIVITIES
Utang bank jangka pendek                                                                                          Short-term bank loans
  Penerimaan                                                           806.084.560            470.022.987           Proceeds
  Pembayaran                                                          (818.447.048)          (254.138.590)          Payments
Utang bank jangka panjang                                                                                         Long-term bank loans
  Penerimaan                                                            50.000.000                      -           Proceeds
  Pembayaran                                                           (10.000.000)           (96.328.832)          Payments
Pembayaran dividen entitas anak kepada kepentingan
  nonpengendali                                                         (9.263.650)            (9.318.500)        Dividends paid by subsidiaries to non-controlling interests
Pembayaran dividen                                                    (475.000.000)          (415.000.000)        Dividends paid

Kas Bersih Digunakan untuk Aktivitas Pendanaan                        (456.626.138)          (304.762.935)        Net Cash Used in Financing Activities

KENAIKAN (PENURUNAN) BERSIH KAS DAN                                                                               NET INCREASE (DECREASE) IN CASH AND
  SETARA KAS                                                             4.693.953            (12.339.325)          CASH EQUIVALENTS

                                                                                                                  CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS AWAL TAHUN                                         318.495.046             329.599.981            AT THE BEGINNING OF THE YEAR
Pengaruh perubahan kurs mata uang asing                                 3.740.042               1.234.390         Effect of foreign exchange rate changes

                                                                                                                  CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS AKHIR TAHUN                                        326.929.041             318.495.046           AT THE END OF THE YEAR




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                                         See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                                       which are an integral part of the consolidated financial statements.


                                                                                      -5-
Page 163
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


1.   Umum                                                        1.   General

     a.   Pendirian dan Informasi Umum                                a.   Establishment and General Information

          PT Golden Energy Mines Tbk (Perusahaan)                          PT Golden Energy Mines Tbk. (the Company)
          didirikan dengan nama PT Bumi Kencana Eka                        was established under the name of PT Bumi
          Sakti berdasarkan Akta No. 81 tanggal                            Kencana Eka Sakti based on Notarial Deed
          13 Maret 1997 yang dibuat dihadapan                              No. 81 dated March 13, 1997 of Imam
          Imam Santoso, S.H., notaris di Jakarta.                          Santoso, S.H., a public notary in Jakarta.
          Akta Pendirian telah disahkan oleh Menteri                       The Deed of Establishment was approved by
          Kehakiman Republik Indonesia (sekarang                           the Minister of Justice of the Republic
          Menteri Hukum dan Hak Asasi Manusia                              of Indonesia (currently the Minister of
          Republik Indonesia) dalam Surat Keputusan                        Law and Human Rights of the Republic of
          No. C2-7.922HT.01.01.TH.98 tanggal 30 Juni                       Indonesia)      in   his   Decision    Letter
          1998 serta telah diumumkan dalam Berita                          No. C2-7.922HT.01.01.TH.98 dated June 30,
          Negara Republik Indonesia No. 30 tanggal                         1998 and was published in the State Gazette of
          12 April 2002, Tambahan No. 3667.                                the Republic of Indonesia No. 30 dated
                                                                           April 12, 2002, Supplement No. 3667.

          Anggaran Dasar Perusahaan telah mengalami                        The Company’s Articles of Association have
          beberapa kali perubahan, terakhir diubah                         been amended several times, the latest
          dengan Akta No. 130 tanggal 16 Mei 2024 dari                     amendment by Notarial Deed No. 130 dated
          Hannywati Gunawan, S.H., notaris di Jakarta,                     May 16, 2024 of Hannywati Gunawan, S.H.,
          mengenai penyesuaian pasal 3 Anggaran Dasar                      notary in Jakarta, regarding adjustments to
          Perseroan perihal Maksud dan Tujuan                              article 3 of the Company's Articles of
          Perseroan yang disesuaikan dengan Klasifikasi                    Association   regarding    the    Company's
          Baku Lapangan Usaha Indonesia (KBLI)                             Aims - Business and Objectives which are
          tahun 2020. Perubahan tersebut telah                             adjusted to the Standard Classification of
          disetujui   oleh    Menteri   Hukum      dan                     Indonesian Business Fields (KBLI) Year 2020.
          Hak Asasi Manusia Republik Indonesia                             These changes have been approved by the
          dalam             Surat          Keputusan                       Minister of Law and Human Rights of the
          No.     AHU-0028984.AH.01.02.Tahun     2024                      Republic of Indonesia in its Decision Letter
          tanggal 17 Mei 2024.                                             No. AHU-0028984.AH.01.02 Year 2024 dated
                                                                           May 17, 2024.

          Saat ini Perusahaan bergerak dalam bidang                        Currently, the Company is engaged in coal
          pertambangan melalui penyertaan pada entitas                     mining through its subsidiaries and in coal
          anaknya     dan    perdagangan      batubara.                    trading activities. The Company started its
          Perusahaan memulai kegiatan komersialnya                         commercial operations on April 30, 2010. On
          pada tanggal 30 April 2010. Pada tanggal                         February 4, 2011, based on the Decision of the
          4 Februari 2011, berdasarkan Keputusan                           Minister of Energy and Mineral Resources
          Kementerian Energi dan Sumber Daya                               No. 206.K./30/DJB/2011, the Company
          Mineral No. 206.K./30/DJB/2011, Perusahaan                       obtained License of Special Mining Operation
          memperoleh Izin Usaha Pertambangan (IUP)                         Production for Transportation and Trade of Coal
          Operasi Produksi Khusus untuk Pengangkutan                       which is valid for 3 years and based on the
          dan Penjualan Batubara untuk jangka waktu                        Decision of the Minister of Energy and Mineral
          3 tahun dan berdasarkan Keputusan                                Resources No. 358.K/30/DJB/2014 dated
          Kementerian Energi dan Sumber Daya Mineral                       April 7, 2014, the period has been extended for
          No. 358.K/30/DJB/2014 tertanggal 7 April 2014,                   another 3 years.
          jangka waktu tersebut diperpanjang selama
          3 tahun.

          Berdasarkan Peraturan Menteri Energi dan                         Based on Regulation of the Minister of Energy
          Sumber Daya Mineral No. 34 tahun 2017,                           and Mineral Resources No. 34 year 2017, the
          Perusahaan telah melakukan penyesuaian                           Company obtained adjustment for License of
          Izin Usaha Pertambangan Operasi Khusus                           Special Mining Operation Production for
          Untuk Pengangkutan dan Penjualan Batubara                        Transportation and Trade of Coal with Register
          dengan mendapatkan Tanda Registrasi                              Certificate of Activities for Transportation and
          Kegiatan Pengangkutan dan Penjualan                              Trade of Coal No. 08392-00/TR-AJ/DBB/2017.
          No. 08392-00/TR-AJ/DBB/2017.



                                                           -6-
Page 164
PT GOLDEN ENERGY MINES Tbk                                                   PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                      AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                      As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,             (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


         Berdasarkan Keputusan Menteri Energi dan                   Based on the Decision of the Minister of Energy
         Sumber      Daya   Mineral   dan     Menteri               and Mineral Resources and the Minister of
         Investasi/Kepala     Badan        Koordinasi               Investment/Head       of    the     Investment
         Penanaman Modal No. 81202191527980003                      Coordinating Board No. 81202191527980003
         tanggal 31 Juli 2023, Perusahaan telah                     dated July 31, 2023, the Company has obtained
         mendapatkan Perizinan Berusaha Berbasis                    a Risk based Business License for
         Risiko untuk Pengangkutan dan Penjualan                    Transportation and Trade of Coal with a period
         Batubara dengan jangka waktu 5 tahun sejak                 of 5 years since the Decree was approved and
         ditetapkan Keputusan dan dapat diperpanjang                can be extended in accordance with statutory
         sesuai     dengan    ketentuan     peraturan               provisions.
         perundang-undangan.

         Perusahaan berkedudukan di Sinar Mas Land                  The Company’s main office is located at Sinar
         Plaza, Menara II, Lantai 6, Jl. M.H. Thamrin               Mas Land Plaza, Tower II, 6th Floor, Jl. M.H.
         Kav. 51, Jakarta 10350.                                    Thamrin Kav. 51, Jakarta 10350.

         Perusahaan tergabung dalam kelompok usaha                  The Company operates under the Sinarmas
         Sinarmas.                                                  group of businesses.

         Entitas induk langsung Perusahaan adalah                   The direct parent entity of the Company is
         PT Dian Swastatika Sentosa Tbk dan                         PT Dian Swastatika Sentosa Tbk and the
         pemegang saham pengendali Perusahaan                       ultimate controlling shareholders of the
         adalah Franky Oesman Widjaja dan Indra                     Company are Franky Oesman Widjaja and
         Widjaja.                                                   Indra Widjaja.

         Dalam laporan keuangan konsolidasian,                      In the consolidated financial statements, the
         Perusahaan dan entitas anaknya Bersama-                    Company and its subsidiaries are collectively
         sama disebut sebagai “Grup”.                               referred to as “the Group”.

    b.   Penawaran Umum Efek Perusahaan                        b.   Public Offering of Shares

         Pada tanggal 9 November 2011, Perusahaan                   On November 9, 2011, the Company obtained
         memperoleh Pernyataan Efektif dari Ketua                   the Notice of Effectivity from the Chairman of
         Badan Pengawas Pasar Modal dan Lembaga                     the Capital Market and Financial Institutions
         Keuangan (Bapepam-LK) dengan Surat                         Supervisory Agency (Bapepam-LK) in Letter
         No. S-12171/BL/2011 untuk melakukan                        No. S-12171/BL/2011 for its offering to the
         penawaran umum saham perdana sebanyak                      public     of    882,353,000     shares.   On
         882.353.000       saham.     Pada     tanggal              November 17, 2011, all of these shares were
         17 November 2011, seluruh saham tersebut                   listed on the Indonesia Stock Exchange.
         telah dicatatkan pada Bursa Efek Indonesia.

         Pada tanggal 31 Desember 2024 dan 2023,                    As of December 31, 2024 and 2023, all of the
         seluruh   saham    Perusahaan      sejumlah                Company’s shares totaling 5,882,353,000
         5.882.353.000 saham telah tercatat di Bursa                shares are listed on the Indonesia Stock
         Efek Indonesia.                                            Exchange.




                                                         -7-
Page 165
PT GOLDEN ENERGY MINES Tbk                                                                                                              PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                                 AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                                   Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                                 As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                        (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                        unless Otherwise Stated)


   c.   Entitas Anak yang Dikonsolidasikan                                                                            c.     Consolidated Subsidiaries

        Entitas-entitas   anak   yang    dikendalikan                                                                        The subsidiaries, controlled, either directly or
        Perusahaan, baik secara langsung maupun                                                                              indirectly, by the Company, are as follows:
        tidak langsung, adalah sebagai berikut:

                                                                                                                                                      Persentase Kepemilikan Efektif
                                                                                                                                    Tahun Awal               dan Hak Suara/                       Jumlah Aset
                                                                                                                                 Operasi Komersial/      Effective Percentage of             (Sebelum Eliminasi)/
                                                                                                                                      Year of            Ownership Interest and                   Total Assets
                                                                                                                                      Start of                 Voting Rights                  (Before Elimination)
                                                                     Domisili/                         Jenis Usaha/                 Commercial          31 Desember/December 31,          31 Desember/December 31,
                       Entitas Anak/Subsidiaries                     Domicile                       Nature of Business               Operation            2024                 2023        2024                   2023
                                                                                                                                                           %                    %
        Pemilikan Langsung/Direct Ownership:
        PT Roundhill Capital Indonesia (RCI)                 Jakarta Pusat/            Penyertaan saham dan                            2014               99,0158               99,0158   790.237.063            885.384.378
                                                             Central Jakarta           perdagangan besar/
                                                                                       Holding company and trading

        PT Kuansing Inti Makmur (KIM)                        Muara Bungo,              Pertambangan batubara/                          2005               99,9998               99,9998    97.869.039             99.004.291
                                                             Kabupaten Bungo,          Coal mining
                                                             Jambi

        PT Trisula Kencana Sakti (TKS)                       Barito Utara,             Pertambangan batubara/                          2008               99,9998               99,9998     7.811.492              9.069.214
                                                             Kabupaten Barito Utara,   Coal mining
                                                             Kalimantan Tengah/
                                                             Central Borneo

        GEMS Trading                                         Singapura/Singapore       Perdagangan besar/                              2012              100,0000              100,0000     9.675.768              8.957.684
           Resources Pte. Ltd. (GEMSTR)                                                Trading

        PT Karya Mining Solution (KMS)                       Jakarta Pusat/            Jasa Pertambangan/                                -                99,9999               99,9999    19.370.783             20.141.241
           (dahulu/formerly PT Bumi Anugerah Semesta (BAS)   Central Jakarta           Mining Services


        PT GEMS Energy Indonesia (GEMS Energy)               Jakarta Pusat/            Perdagangan besar/                                -                99,9902               99,9902      125.698                 131.963
                                                             Central Jakarta           Trading

        PT Era Mitra Selaras (EMS)                           Jakarta Pusat/            Penyertaan saham/                                 -               100,0000              100,0000      980.893               1.053.325
                                                             Central Jakarta           Holding company

        PT Unsoco (Unsoco)                                   Jakarta Pusat/            Jasa konsultasi manajemen/                        -                99,9999               99,9999        73.100                 73.671
                                                             Central Jakarta           Management consultant services

        PT Dwikarya Sejati Utama (DSU)                       Jakarta Pusat/            Modal ventura dan manajemen konsultasi/           -               100,0000              100,0000   132.659.934            151.770.692
                                                             Central Jakarta           Venture capital and management
                                                                                       consultant

        Pemilikan Tidak Langsung/Indirect Ownership:
        PT Borneo Indobara (BORNEO)                          Jakarta Pusat/            Pertambangan batubara/Coal mining               2005               98,0951               98,0951   788.431.146            882.365.565
           (melalui/through RCI)                             Central Jakarta

        PT Karya Cemerlang Persada (KCP)                     Muara Bungo,              Pertambangan batubara/Coal mining               2011               99,9998               99,9998     7.742.554             15.260.898
           (melalui/through KIM)                             Kabupaten Bungo,
                                                             Jambi


        PT Bungo Bara Utama (BBU)                            Muara Bungo,              Pertambangan batubara/Coal mining               2017               99,9998               99,9998    47.037.443             41.339.909
           (melalui/through KIM)                             Kabupaten Bungo,
                                                             Jambi

        PT Bara Harmonis Batang Asam                         Muara Bungo,              Pertambangan batubara/Coal mining               2010               99,9998               99,9998     1.541.499              1.707.048
           (BHBA) (melalui/through KIM)                      Kabupaten Bungo,
                                                             Jambi

        PT Berkat Nusantara Permai (BNP)                     Muara Bungo,              Pertambangan batubara/Coal mining                 -                99,9998               99,9998    19.964.443             20.090.612
           (melalui/through KIM)                             Kabupaten Bungo,
                                                             Jambi

        PT Tanjung Belit Bara Utama (TBBU)                   Muara Bungo,              Pertambangan batubara/Coal mining                 -                99,9998               99,9998    22.893.144             24.331.598
           (melalui/through KIM)                             Kabupaten Bungo,
                                                             Jambi

        PT Wahana Rimba Lestari (WRL)                        Jakarta Pusat/            Pertambangan batubara/Coal mining                 -               100,0000              100,0000      806.214                 858.760
           (melalui/through EMS dan/and KIM)                 Central Jakarta

        PT Berkat Satria Abadi (BSA)                         Jakarta Pusat/            Pertambangan batubara/Coal mining                 -               100,0000              100,0000      172.133                 188.092
           (melalui/through EMS dan/and KIM)                 Central Jakarta

        PT Kuansing Inti Sejahtera (KIS)                     Muara Bungo,              Pertambangan batubara/Coal mining                 -                99,9998               99,9998      373.053                 380.689
           (melalui/through KIM)                             Kabupaten Bungo,
                                                             Jambi

        PT Bungo Bara Makmur (BBM)                           Muara Bungo,              Pertambangan batubara/Coal mining               2019               99,9998               99,9998    15.728.184             13.919.679
           (melalui/through BBU)                             Kabupaten Bungo,
                                                             Jambi

        PT Duta Sarana Internusa (DSI)                       Jakarta Pusat/            Jasa konsultasi manajemen/                        -               100,0000              100,0000   132.654.956            152.211.744
           (melalui/through DSU)                             Central Jakarta           Management consultant services

        PT Barasentosa Lestari (BSL)                         Jakarta Pusat/            Pertambangan batubara dan pengembangan          2015              100,0000              100,0000   132.590.047            152.127.276
           (melalui/through DSI dan/and UNSOCO)              Central Jakarta           pembangkit listrik mulut tambang/
                                                                                       Coal mining and developing a mine-mouth
                                                                                       power plant




                                                                                                    -8-
Page 166
PT GOLDEN ENERGY MINES Tbk                                                   PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                      AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                      As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,             (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


       DSU                                                        DSU

       Berdasarkan Akta No. 267, tanggal 31 Juli 2024             Based on Deed No. 267, dated July 31, 2024 of
       dari Hannywati Gunawan, S.H., notaris di                   Hannywati Gunawan, S.H., notary in Jakarta,
       Jakarta, para pemegang saham DSU                           the shareholders of DSU approved to increase
       menyetujui untuk meningkatkan modal dasar                  the       authorized         capital       from
       dari Rp 4.000.000.000 terdiri dari 4.000 saham             Rp 4,000,000,000 divided into 4,000 shares
       dengan nilai nominal Rp 1.000.000 menjadi                  with a par value of Rp 1,000,000 to
       Rp 110.000.000.000 terdiri dari 110.000 saham              Rp 110,000,000,000 divided into 110,000
       dengan nilai nominal Rp 1.000.000, serta                   shares with a par value of Rp 1,000,000, as well
       meningkatkan modal ditempatkan dan Disetor                 as increasing the issued and paid-up capital
       dari Rp 1.000.000.000 terdiri dari 1.000 saham             from Rp 1,000,000,000 divided into 1,000
       dengan nilai nominal Rp 1.000.000 menjadi                  shares with a par value of Rp 1,000,000 to
       Rp 103.910.000.000 terdiri dari 103.910 saham              Rp 103,910,000,000 divided into 103,910
       dengan     nilai   nominal     Rp     1.000.000.           shares with a par value of Rp 1,000,000.
       Peningkatan modal disetor tersebut seluruhnya              The increase in paid-in capital was subscribed
       diambil bagian oleh Perusahaan. Akta tersebut              by and issued to the Company. The deed
       telah disetujui oleh Menteri Hukum dan Hak                 was approved by the Ministry of Law
       Asasi     Manusia       Republik       Indonesia           and Human Rights of the Republic of
       dalam              Surat              Keputusan            Indonesia      in     its    Decision     Letter
       No.    AHU-0049832.AH.01.02.Tahun          2024            No. AHU-0049832.AH.01.02.Tahun 2024 dated
       tanggal 12 Agustus 2024 serta telah dicatat di             August 12, 2024 and was registered in the
       dalam database Sistem Administrasi Badan                   database Administration System of the Ministry
       Hukum dan Hak Asasi Manusia Republik                       of Law and Human Rights of the Republic of
       Indonesia              dalam               Surat           Indonesia                 in              Letter
       No.      AHU-AH.01.03-0181469            tanggal           No.       AHU-AH.01.03-0181469            dated
       12 Agustus 2024.                                           August 12, 2024.

       BSL                                                        BSL

       Berdasarkan Akta No. 266, tanggal 31 Juli 2024             Based on Deed No. 266, dated July 31, 2024 of
       dari Hannywati Gunawan, S.H., notaris di                   Hannywati Gunawan, S.H., notary in Jakarta,
       Jakarta, para pemegang saham BSL                           the shareholders of BSL approved to increase
       menyetujui untuk meningkatkan modal dasar                  the       authorized         capital       from
       dari Rp 3.500.000.000 terdiri dari 3.500 saham             Rp 3,500,000,000 divided into 3,500 shares
       dengan nilai nominal Rp 1.000.000 menjadi                  with a par value of Rp 1,000,000 to
       Rp 200.000.000.000 terdiri dari 200.000 saham              Rp 200,000,000,000 divided into 200,000
       dengan nilai nominal Rp 1.000.000, serta                   shares with a par value of Rp 1,000,000, as well
       meningkatkan modal ditempatkan dan Disetor                 as increasing the issued and paid-up capital
       dari Rp 3.500.000.000 terdiri dari 3.500 saham             from Rp 3,500,000,000 divided into 3,500
       dengan nilai nominal Rp 1.000.000 menjadi                  shares with a par value of Rp 1,000,000 to
       Rp 174.371.000.000 terdiri dari 174.371 saham              Rp 174,371,000,000 divided into 174,371
       dengan     nilai   nominal    Rp     1.000.000.            shares with a par value of Rp 1,000,000. The
       Peningkatan modal disetor tersebut diambil                 increase in paid-up capital subscribed by and
       secara proporsional oleh DSI, Perusahaan, dan              issued proportionally by DSI, the Company,
       UNSOCO. Akta tersebut disetujui oleh Menteri               and UNSOCO. The deed was approved by the
       Hukum dan Hak Asasi Manusia Republik                       Ministry of Law and Human Rights of the
       Indonesia      dalam      Surat      Keputusan             Republic of Indonesia in its Decision Letter
       No.    AHU-0049835.AH.01.02.Tahun         2024             No.    AHU-0049835.AH.01.02.Tahun          2024
       tanggal 12 Agustus 2024 serta telah dicatat di             dated August 12, 2024 and was registered
       dalam database Sistem Administrasi Badan                   in the database Administration System of
       Hukum dan Hak Asasi Manusia Republik                       the Ministry of Law and Human Rights of
       Indonesia              dalam              Surat            the Republic of Indonesia in Letter
       No.      AHU-AH.01.03-0181476           tanggal            No.       AHU-AH.01.03-0181476            dated
       12 Agustus 2024.                                           August 12, 2024.




                                                          -9-
Page 167
PT GOLDEN ENERGY MINES Tbk                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


       EMS                                                            EMS

       Berdasarkan Akta No. 41, tanggal 20 Desember                   Based on Deed No. 41, dated December 20,
       2024 dari Deni Thanur, S.H., Notaris di Jakarta,               2024 of Deni Thanur, S.H., a Notary in Jakarta,
       para pemegang saham EMS menyetujui untuk                       the shareholders of EMS approved to increase
       meningkatkan modal ditempatkan dan disetor                     the issued and paid-up capital from
       dari Rp 40.979.000.000 terdiri dari 40.979                     Rp 40,979,000,000 divided into 40,979 shares
       saham dengan nilai nominal Rp 1.000.000                        with a par value of Rp 1,000,000 to
       menjadi Rp 43.642.000.000 terdiri dari 43.642                  Rp 43,642,000,000 divided into 43,642 shares
       saham dengan nilai nominal Rp 1.000.000,                       with a par value of Rp 1,000,000, by issuing
       dengan menerbitkan 2.663 saham baru atau                       2,663 new shares or amounting to
       sebesar Rp 2.663.000.000 yang diambil                          Rp 2,663,000,000 which were all acquired by
       seluruhnya oleh Perusahaan. Akta tersebut                      the Company. The deed has been recorded in
       telah dicatat di dalam database Sistem                         the Database System of the Minister of Law
       Administrasi Badan Hukum dan Hak Asasi                         and Human Rights of the Republic of
       Manusia Republik Indonesia dalam Surat                         Indonesia         in         its         Letter
       No.      AHU-AH.01.03-0225926            tanggal               No.       AHU-AH.01.03-0225926           dated
       20 Desember 2024. Peningkatan modal                            December 20, 2024. The acquisition of the
       tersebut tidak berdampak pada kepemilikan                      additional capital had no impact on the
       efektik Perusahaan yang tetap sebesar                          Company's effective ownership interest, which
       100,00%.                                                       remained at 100.00%.

       Berdasarkan Akta No. 24, tanggal 18 Juli 2023                  Based on Deed No. 24, dated July 18, 2023 of
       dari Deni Thanur, S.H., Notaris di Jakarta, para               Deni Thanur, S.H., a Notary in Jakarta, the
       pemegang saham EMS menyetujui untuk                            shareholders of EMS approved to increase the
       meningkatkan        modal       dasar        dari              authorized capital from Rp 25,000,000,000
       Rp 25.000.000.000 terdiri dari 25.000 saham                    divided into 25,000 shares with a par value of
       dengan nilai nominal Rp 1.000.000 menjadi                      Rp 1,000,000 to Rp 80,000,000,000 divided
       Rp 80.000.000.000 terdiri atas 80.000 saham                    into 80,000 shares with a par value of
       dengan nilai nominal Rp 1.000.000, serta                       Rp 1,000,000, as well as increasing the issued
       meningkatkan modal ditempatkan dan disetor                     and paid-up capital from Rp 25,000,000,000
       dari Rp 25.000.000.000 terdiri dari 25.000                     divided into 25,000 shares with a par value of
       saham dengan nilai nominal Rp 1.000.000                        Rp 1,000,000 to Rp 40,979,000,000 divided
       menjadi Rp 40.979.000.000 terdiri dari 40.979                  into 40,979 shares with a par value of
       saham dengan nilai nominal Rp 1.000.000,                       Rp 1,000,000, by issuing 15,979 new shares or
       dengan menerbitkan 15.979 saham baru atau                      amounting to Rp 15,979,000,000 which were
       sebesar Rp 15.979.000.000 yang diambil                         all acquired by the Company. The deed was
       seluruhnya oleh Perusahaan. Akta tersebut                      approved     by    the   Minister    of    Law
       disetujui oleh Menteri Hukum dan Hak Asasi                     and Human Rights of the Republic of
       Manusia Republik Indonesia dalam Surat                         Indonesia      in    its   Decision      Letter
       Keputusan No. AHU-0042862.AH.01.02. Tahun                      No. AHU-0042862.AH.01.02.Tahun 2023 dated
       2023 tanggal 26 Juli 2023.                                     July 26, 2023.

       WRL                                                            WRL

       Berdasarkan Akta No. 40 tanggal 20 Desember                    Based on Deed No. 40, dated December 20,
       2024 dari Deni Thanur, S.H., Notaris di Jakarta,               2024 of Deni Thanur, S.H., a Notary in Jakarta,
       para pemegang saham WRL menyetujui untuk                       the shareholders of WRL approved to increase
       meningkatkan modal ditempatkan dan disetor                     the issued and paid-up capital from
       dari Rp 25.753.000.000 terdiri dari 25.753                     Rp 25,753,000,000 divided into 25,753 shares
       saham          dengan          nilai    nominal                with a par value of Rp 1,000,000 to
       Rp 1.000.000 menjadi Rp 27.046.000.000                         Rp 27,046,000,000 divided into 27,046 shares
       terdiri dari 27.046 saham dengan nilai nominal                 with a par value of Rp 1,000,000, by issuing
       Rp 1.000.000, dengan menerbitkan 1.293                         1,293 new shares or amounting to
       saham baru atau sebesar Rp 1.293.000.000                       Rp 1,293,000,000 which were all acquired by
       yang diambil seluruhnya oleh EMS. Akta                         EMS. The deed has been recorded in the
       tersebut telah dicatat di dalam database Sistem                Database System of the Minister of Law
       Administrasi Badan Hukum dan Hak Asasi                         and Human Rights of the Republic of
       Manusia        Republik      Indonesia    dalam                Indonesia         in         its         Letter
       Surat No. AHU-AH.01.03-0225922 tanggal                         No.       AHU-AH.01.03-0225922           dated
       20 Desember 2024. Peningkatan modal                            December 20, 2024. The acquisition of the
       tersebut tidak berdampak pada kepemilikan                      additional capital had no impact on the
       efektik Perusahaan yang tetap sebesar                          Company's effective ownership interest, which
       100,00%.                                                       remained at 100.00%.


                                                           - 10 -
Page 168
PT GOLDEN ENERGY MINES Tbk                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


       Berdasarkan Akta No. 25, tanggal 18 Juli 2023                  Based on Deed No. 25, dated July 18, 2023 of
       dari Deni Thanur, S.H., Notaris di Jakarta, para               Deni Thanur, S.H., a Notary in Jakarta, the
       pemegang saham WRL menyetujui untuk                            shareholders of WRL approved to increase the
       meningkatkan        modal       dasar        dari              authorized capital from Rp 12,000,000,000
       Rp 12.000.000.000 terdiri dari 12.000 saham                    divided into 12,000 shares with a par value of
       dengan nilai nominal Rp 1.000.000 menjadi                      Rp 1,000,000 to Rp 50,000,000,000 divided
       Rp 50.000.000.000 terdiri dari 50.000 saham                    into 50,000 shares with a par value of
       dengan nilai nominal Rp 1.000.000, serta                       Rp 1,000,000, as well as increasing the issued
       meningkatkan modal ditempatkan dan disetor                     and paid-up capital from Rp 4,190,000,000
       dari Rp 4.190.000.000 terdiri dari 4.190 saham                 divided into 4,190 shares with a par value of
       dengan nilai nominal Rp 1.000.000 menjadi                      Rp 1,000,000 to Rp 25,753,000,000 divided
       Rp 25.753.000.000 terdiri dari 25.753 saham                    into 25,753 shares with a par value of
       dengan nilai nominal Rp 1.000.000, dengan                      Rp 1,000,000, by issuing 21,563 new shares or
       menerbitkan 21.563 saham baru atau sebesar                     amounting to Rp 21,563,000,000 which were
       Rp 21.563.000.000 yang diambil seluruhnya                      all   acquired    by     EMS.     The     deed
       oleh EMS. Akta tersebut disetujui oleh Menteri                 was approved by the Minister of Law
       Hukum dan Hak Asasi Manusia Republik                           and Human Rights of the Republic of
       Indonesia      dalam     Surat       Keputusan                 Indonesia      in    its   Decision      Letter
       No. AHU-0042871.AH.01.02. Tahun 2023                           No. AHU-0042871.AH.01.02. Tahun 2023
       tanggal 26 Juli 2023.                                          dated July 26, 2023.

       BSA                                                            BSA

       Berdasarkan Akta No. 39 tanggal 20 Desember                    Based on Deed No. 39, dated December 20,
       2024 dari Deni Thanur, S.H., Notaris di Jakarta,               2024 of Deni Thanur, S.H., a Notary in Jakarta,
       para pemegang saham BSA menyetujui untuk                       the shareholders of BSA approved to increase
       meningkatkan modal ditempatkan dan disetor                     the issued and paid-up capital from
       dari Rp 12.774.500.000 terdiri dari 127.745                    Rp 12,774,500,000 divided into 127,745 shares
       saham         dengan         nilai      nominal                with a par value of Rp 100,000 to
       Rp 100.000 menjadi Rp 13.791.500.000 terdiri                   Rp 13,791,500,000 divided into 137,915 shares
       dari 137.915 saham dengan nilai nominal                        with a par value of Rp 1,000,000, by issuing
       Rp 100.000, dengan menerbitkan 10.170                          10,170 new shares or amounting to
       saham baru atau sebesar Rp 1.017.000.000                       Rp 1,017,000,000 which were all acquired by
       yang diambil seluruhnya oleh EMS. Akta                         EMS. The deed has been recorded in the
       tersebut serta telah dicatat di dalam database                 Database System of the Minister of Law
       Sistem Administrasi Badan Hukum dan Hak                        and Human Rights of the Republic of
       Asasi Manusia Republik Indonesia dalam Surat                   Indonesia         in         its         Letter
       No.      AHU-AH.01.03-0225915            tanggal               No.       AHU-AH.01.03-0225915           dated
       20 Desember 2024. Peningkatan modal                            December 20, 2024. The acquisition of the
       tersebut tidak berdampak pada kepemilikan                      additional capital had no impact on the
       efektik Perusahaan yang tetap sebesar                          Company's effective ownership interest, which
       100,00%.                                                       remained at 100.00%.

       Berdasarkan Akta No. 26, tanggal 18 Juli 2023                  Based on Deed No. 26, dated July 18, 2023 of
       dari Deni Thanur, S.H., Notaris di Jakarta, para               Deni Thanur, S.H., a Notary in Jakarta, the
       pemegang saham BSA menyetujui untuk                            shareholders of BSA approved to increase the
       meningkatkan        modal        dasar       dari              authorized capital from Rp 3,800,000,000
       Rp 3.800.000.000 terdiri dari 38.000 saham                     divided into 38,000 shares with a par value of
       dengan nilai nominal Rp 100.000 menjadi                        Rp 100,000 to Rp 25,000,000,000 divided into
       Rp 25.000.000.000 terdiri dari 250.000 saham                   250,000 shares with a par value of
       dengan nilai nominal Rp 100.000, serta                         Rp 100,000, as well as increasing the issued
       meningkatkan modal ditempatkan dan disetor                     and paid-up capital from Rp 1,496,500,000
       dari Rp 1.496.500.000 terdiri dari 14.965 saham                divided into 14,965 shares with a nominal value
       dengan nilai nominal Rp 100.000 menjadi                        of Rp 100,000 to Rp 12,774,500,000 divided
       Rp 12.774.500.000 terdiri dari 127.745 saham                   into 127,745 shares with a par value of
       dengan nilai nominal Rp 100.000, dengan                        Rp 100,000, by issuing 112,780 new shares or
       menerbitkan 112.780 saham baru atau sebesar                    amounting to Rp 11,278,000,000 which were all
       Rp 11.278.000.000 yang diambil seluruhnya                      acquired by EMS. The deed was approved by
       oleh EMS. Akta tersebut disetujui oleh Menteri                 the Minister of Law and Human Rights of the
       Hukum dan Hak Asasi Manusia Republik                           Republic of Indonesia in its Decision Letter
       Indonesia      dalam      Surat       Keputusan                No. AHU-0042874.AH.01.02.Tahun 2023 dated
       No. AHU-0042874.AH.01.02. Tahun 2023                           July 26, 2023.
       tanggal 26 Juli 2023.


                                                           - 11 -
Page 169
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


       TKS                                                           TKS

       Berdasarkan       Akta    No.    263,    tanggal              Based on Deed No. 263 dated December 19,
       19 Desember 2024 dari Hannywati Gunawan,                      2024 of Hannywati Gunawan, S.H., a Notary in
       S.H., Notaris di Jakarta, para pemegang saham                 Jakarta, the shareholders of TKS approved to
       TKS menyetujui untuk meningkatkan modal                       increase the authorized capital from
       dasar dari Rp 400.000.000.000 terdiri dari                    Rp 400,000,000,000 divided into 800,000
       800.000 saham dengan nilai nominal                            shares with a nominal value of Rp 500,000 to
       Rp 500.000 menjadi Rp 450.000.000.000 terdiri                 Rp 450,000,000,000 divided into 900,000
       dari 900.000 saham dengan nilai nominal                       shares with a nominal value Rp 500,000, as
       Rp 500.000, serta meningkatkan modal                          well as increasing the issued and paid-up
       ditempatkan         dan        disetor      dari              capital from Rp 387,900,000,000 divided into
       Rp 387.900.000.000 terdiri dari 775.800 saham                 775,800 shares with a nominal value of
       dengan nilai nominal Rp 500.000 menjadi                       Rp 500,000 to Rp 416,650,000,000 divided into
       Rp 416.650.000.000 terdiri dari 833.300 saham                 833,300 shares with a nominal value of
       dengan nilai nominal Rp 500.000, yang diambil                 Rp 500,000, which were all acquired by the
       seluruhnya oleh Perusahaan. Akta tersebut                     Company. The deed was approved by the
       telah disetujui oleh Menteri Hukum dan Hak                    Minister of Law and Human Rights of the
       Asasi      Manusia       Republik      Indonesia              republic of Indonesia in its Decision Letter
       dalam               Surat             Keputusan               No. AHU-0083795.AH.01.02.Tahun 2024 dated
       No.     AHU-0083795.AH.01.02.Tahun         2024               December 20, 2024 and was registered
       tanggal 20 Desember 2024 serta telah dicatat                  in the database Administration System of
       di dalam database Sistem Administrasi Badan                   the Ministry of Law and Human Rights of
       Hukum dan Hak Asasi Manusia Republik                          the Republic of Indonesia in Letter
       Indonesia               dalam              Surat              No.        AHU-AH.01.03-0225489         dated
       No.       AHU-AH.01.03-0225489           tanggal              December 20, 2024. The acquisition of the
       20 Desember 2024. Peningkatan modal                           additional capital had no impact on the
       tersebut tidak berdampak pada kepemilikan                     Company's effective ownership interest, which
       efektif Perusahaan yang tetap sebesar 99,99%.                 remained at 99.99%.

       Berdasarkan Akta Jual Beli Saham No. 146                      Based on Deed of Sales and Purchase of
       tanggal 18 Desember 2023 dari Hannywati                       Shares No. 146 dated December 18, 2023 of
       Gunawan, S.H., Notaris di Jakarta, Fransisca                  Hannywati Gunawan, S.H., notary in Jakarta,
       Santoso menjual 75 lembar saham yang dimiliki                 Fransisca Santoso sold 75 shares in TKS to the
       dalam TKS kepada Perusahaan seharga                           Company      at    a    selling    price     of
       Rp 250.000.000.                                               Rp 250,000,000.

       Berdasarkan Akta Jual Beli Saham No. 147                      Based on Deed of Sales and Purchase of
       tanggal 18 Desember 2023 dari Hannywati                       Shares No. 147 dated December 18, 2023 of
       Gunawan, S.H., notaris di Jakarta, Stefanus                   Hannywati Gunawan, S.H., notary in Jakarta,
       Santoso menjual 74 lembar saham dan                           Stefanus Santoso sold 74 shares and 1 share
       1 lembar saham yang dimiliki dalam TKS                        in TKS to the Company and GEMS Energy at a
       masing-masing kepada Perusahaan dan                           selling price of Rp 247,000,000 and
       GEMS Energy seharga Rp 247.000.000 dan                        Rp 3,000,000, respectively.
       Rp 3.000.000.




                                                          - 12 -
Page 170
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


       Berdasarkan       Akta    No.    179,    tanggal                 Based on Deed No. 179, dated December 21,
       21    Desember        2023    dari    Hannywati                  2023 of Hannywati Gunawan, S.H., notary in
       Gunawan, S.H., notaris di Jakarta, para                          Jakarta, the shareholders of TKS approved to
       pemegang saham TKS menyetujui untuk                              increase the authorized capital from
       meningkatkan         modal       dasar      dari                 Rp 1,000,000,000 divided into 2,000 shares
       Rp 1.000.000.000 terdiri dari 2.000 saham                        with a par value of Rp 500,000 to
       dengan nilai nominal Rp 500.000 menjadi                          Rp 400,000,000,000 divided into 800,000
       Rp 400.000.000.000 terdiri dari 800.000 saham                    shares with a par value of Rp 500,000, as well
       dengan nilai nominal Rp 500.000, serta                           as increasing the issued and paid-up capital
       meningkatkan modal ditempatkan dan disetor                       from Rp 250,000,000 divided into 500 shares
       dari Rp 250.000.000 terdiri dari 500 saham                       with a par value of Rp 500,000 to
       dengan      nilai    nominal     Rp     500.000                  Rp 387,900,000,000 divided into 775,800
       menjadi Rp 387.900.000.000 terdiri dari                          shares      with     a     par    value     of
       775.800 saham dengan nilai nominal                               Rp 500,000, by issuing 775,300 new shares or
       Rp 500.000, dengan menerbitkan 775.300                           amounting to Rp 387,650,000,000 which were
       saham baru atau sebesar Rp 387.650.000.000                       all acquired by the Company. The deed was
       yang diambil seluruhnya oleh Perusahaan.                         approved     by    the   Minister   of    Law
       Akta tersebut disetujui oleh Menteri Hukum dan                   and Human Rights of the Republic
       Hak        Asasi        Manusia        Republik                  of Indonesia in its Decision Letter
       Indonesia       dalam      Surat      Keputusan                  No. AHU-0080375.AH.01.02.Tahun 2023
       No.      AHU-0080375.AH.01.02.Tahun 2023                         dated December 21, 2023.
       tanggal 21 Desember 2023.

       KMS                                                              KMS

       Berdasarkan       Akta    No.    61,       tanggal               Based on Deed No. 61 dated December 18,
       18 Desember 2023 dari Deni Thanur, S.H.,                         2023 of Deni Thanur, S.H., a Notary in Jakarta,
       Notaris di Jakarta, para pemegang saham KMS                      the shareholders of KMS approved to increase
       menyetujui untuk meningkatkan modal dasar                        the        authorized       capital       from
       dari     Rp     40.000.000.000     terdiri     dari              Rp 40,000,000,000 divided into 40,000 shares
       40.000       saham    dengan    nilai    nominal                 with a nominal value of Rp 1,000,000 to
       Rp 1.000.000 menjadi Rp 340.000.000.000                          Rp 340,000,000,000 divided into 340,000
       terdiri dari 340.000 saham dengan nilai nominal                  shares with a nominal value Rp 1,000,000, as
       Rp 1.000.000, serta meningkatkan modal                           well as increasing the issued and paid-up
       ditempatkan          dan      disetor          dari              capital from Rp 10,100,000,000 divided into
       Rp 10.100.000.000 terdiri dari 10.100 saham                      10,100 shares with a nominal value of
       dengan nilai nominal Rp 1.000.000 menjadi                        Rp 1,000,000 to Rp 170,001,000,000 divided
       Rp 170.001.000.000 terdiri dari 170.001 saham                    into 170,001 shares with a nominal value of
       dengan nilai nominal Rp 1.000.000, dengan                        Rp 1,000,000, by issuing 159,901 new shares
       menerbitkan        159.901     saham          baru               or amounting to Rp 159,901,000,000
       atau sebesar Rp 159.901.000.000 yang diambil                     which were all acquired by the Company.
       seluruhnya oleh Perusahaan. Akta tersebut                        The deed was approved by the Minister of Law
       disetujui oleh Menteri Hukum dan Hak Asasi                       and Human Rights of the republic of Indonesia
       Manusia             Republik           Indonesia                 in          its       Decision           Letter
       dalam               Surat             Keputusan                  No. AHU-0079627.AH.01.02 Tahun 2023 dated
       No. AHU-0079627.AH.01.02. Tahun 2023                             December 19, 2023.
       tanggal 19 Desember 2023.




                                                             - 13 -
Page 171
PT GOLDEN ENERGY MINES Tbk                                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                       unless Otherwise Stated)


   d.   Ijin Pertambangan Grup                                                       d.      The Group’s Mining License

        RCI                                                                                  RCI

        Berdasarkan Keputusan Menteri Energi dan                                             Based on the Decision of the Ministry of
        Sumber Daya Mineral No. 835.K/30/DJB/2012                                            Energy        and        Mineral     Resources
        tanggal 26 September 2012, RCI telah                                                 No. 835.K/30/DJB/2012 dated September 26,
        memperoleh IUP Operasi Produksi Khusus                                               2012, RCI has obtained License of Special
        untuk Pengangkutan dan Penjualan Batubara                                            Mining Operation Production for Transportation
        untuk jangka waktu 5 tahun. Berdasarkan                                              and Trade of Coal which is valid for 5 years.
        Peraturan Menteri Energi dan Sumber Daya                                             Based on Regulation of the Minister of Energy
        Mineral No. 34 tahun 2017, RCI telah                                                 and Mineral Resources No. 34 year 2017, RCI
        melakukan penyesuaian IUP Operasi Khusus                                             has adjusted the License of Special Mining
        Untuk Pengangkutan dan Penjualan Batubara                                            Operation Production for Transportation and
        dengan mendapatkan Tanda Registrasi                                                  Trade of Coal by obtaining the Register
        Kegiatan Pengangkutan dan Penjualan                                                  Certificate of Activities for Transportation and
        No. 07183-00/TR-AJ/DBB/2017.                                                         Trade No. 07183-00/TR-AJ/DBB/2017.

        Berdasarkan Keputusan Kepala BPKM                                                    Based on the Decision of the Chairman of the
        No. 55/I/IUP-PB/PMDN/2016, RCI telah                                                 BPKM No. 55/I/IUP-PB/PMDN/2016, RCI has
        memperoleh        persetujuan     penyesuaian                                        obtained approval on the adjustment of
        kerjasama asal komoditas. Berdasarkan                                                cooperation agreements for the commodity
        Keputusan Menteri Energi dan Sumber Daya                                             source. Based on the Decision of the Minister
        Mineral    dan      Menteri   Investasi/Kepala                                       of Energy and Mineral Resources and the
        Badan     Koordinasi     Penanaman       Modal                                       Minister of Investment/Head of the Investment
        No. 81202191527980003 tanggal 31 Juli 2023,                                          Coordinating Board No. 81202191527980003
        RCI telah mendapatkan Perizinan Berusaha                                             dated July 31, 2023, RCI has obtained
        Berbasis Risiko untuk Pengangkutan dan                                               a    Risk-based     Business     License    for
        Penjualan Batubara dengan jangka waktu                                               Transportation and Trade of Coal with a period
        5 tahun sejak ditetapkan Keputusan dan dapat                                         of 5 years since the Decree was approved and
        diperpanjang sesuai dengan ketentuan                                                 can be extended in accordance with statutory
        peraturan perundang-undangan.                                                        provisions.

        KIM                                                                                  KIM

        KIM telah memperoleh izin pengusahaan                                                KIM has obtained the following coal mining
        pertambangan batubara sebagai berikut:                                               licenses:
                                                                          Luas Area/                No. Surat Keputusan/                 Masa Berlaku/
        No.          Ijin KP/Licenses           Daerah/Location              Area                    Decision Letter No.                   Validity
                                                                         Hektar/Hectare

         1    IUP Operasi Produksi/            Kecamatan Jujuhan,             199                 Keputusan Bupati Bungo/            23 April 2010 s.d./up to
              Production Operations             Kabupaten Bungo,                                  Decision of Bupati Bungo               22 April 2018
                                             Provinsi/Province Jambi                             No. 252/DESDM Tahun 2010

         2    SK Perpanjangan                  Kecamatan Jujuhan,             199          Keputusan Kepala Dinas Penanaman Modal/   2 Oktober/October 2017
              IUP Operasi Produksi/             Kabupaten Bungo,                                  Decision of Head Investment               s.d./up to
              Decision Letter on Extension   Provinsi/Province Jambi                      No. 269/KEP.KA.DPMPTSP-6.I/IUPOP/X/2017    2 Oktober/October 2027
              of Production Operations




                                                                       - 14 -
Page 172
PT GOLDEN ENERGY MINES Tbk                                                                                     PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                        AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                          Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                        As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                               (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                               unless Otherwise Stated)


       TKS                                                                                            TKS

       TKS telah memperoleh izin pengusahaan                                                          TKS has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                         licenses:
                                                                                  Luas Area/                 No. Surat Keputusan/                Masa Berlaku/
        No.          Ijin KP/Licenses                Daerah/Location                 Area                     Decision Letter No.                  Validity
                                                                                 Hektar/Hectare

        1.    IUP Operasi Produksi/                  Desa Malateken,                 4.748               Keputusan Bupati Barito Utara/      26 April 2010 s.d./up to
              Production Operations           Gandring, Panaen, Liang Buah,                             Decision of Bupati - North Barito        25 April 2026
                                             Kecamatan Teweh Tengah/Central                                   No. 188.45/207/2010
                                                dan/and Teweh Timur/East ,
                                               Kabupaten Barito Utara/North ,
                                                     Provinsi/Province
                                                Kalimantan Tengah/Central

        2.    IUP Operasi Produksi/                  Desa Malateken,                 4.959               Keputusan Bupati Barito Utara/      26 April 2010 s.d./up to
              Production Operations             Gandring dan/and Panaen,                                Decision of Bupati - North Barito        25 April 2028
                                             Kecamatan Teweh Tengah/Central                                   No. 188.45/208/2010
                                                dan/and Teweh Timur/East ,
                                               Kabupaten Barito Utara/North ,
                                                     Provinsi/Province
                                                Kalimantan Tengah/Central

        3.    IUP Operasi Produksi/           Desa Saing, Patung, Gandrung,          1.748              Keputusan Bupati Barito Timur/       14 Agustus/August 2009
              Production Operations          Kecamatan Dusun Tengah/Central                             Decision of Bupati - East Barito           s.d./up to
                                                      dan/and Paku,                                        No. 570 tahun/year 2009           14 Agustus/August 2019
                                               Kabupaten Barito Timur/East ,
                                                     Provinsi/Province
                                                Kalimantan Tengah/Central

        4.    SK Perpanjangan                 Desa Saing, Patung, Gandrung,          1.748         Keputusan Kepala Dinas Penanaman Modal/   15 Agustus/August 2019
              IUP Operasi Produksi/          Kecamatan Dusun Tengah/Central                                Decision of Head Investment             s.d./up to
              Decision Letter on Extension            dan/and Paku,                               No. 570/52/DESDM-IUPOP/VII/DPMPTSP-2019    14 Agustus/August 2026
              of Production Operations         Kabupaten Barito Timur/East ,
                                                     Provinsi/Province
                                                Kalimantan Tengah/Central


       Berdasarkan            Surat       Direktorat                                                  Based on Letter from Directorate General of
       Jenderal      Perdagangan     Luar    Negeri                                                   Foreign Trade No. 03.ET-04.18.0078 dated
       No. 03.ET-04.18.0078 tanggal 17 Mei 2018,                                                      May 17, 2018, TKS has obtained recognition as
       TKS telah memperoleh penetapan sebagai                                                         a registered coal exporter.
       Eksportir Terdaftar Batubara.

       KMS                                                                                            KMS

       Berdasarkan Keputusan Kepala BKPM                                                              Based on the Decision of the Chairman of the
       No.     193/1/IUJP/PMDN/2018     tanggal                                                       BKPM No. 193/1/IUJP/PMDN/2018 dated
       31 Desember 2018, KMS telah mendapat Izin                                                      December 31, 2018, KMS has obtained Izin
       Usaha Jasa Pertambangan (IUJP).                                                                Usaha Jasa Pertambangan (IUJP).

       Berdasarkan           Surat        Keputusan                                                   Based on Decision Letter Minister of
       Menteri      Investasi/     Kepala    BKPM                                                     Investment/Chairman     of   the    BKPM
       No.       58/1/IUJP/PMDN/2023        tanggal                                                   No.        58/1/IUJP/PMDN/2023       dated
       29 Desember 2023, IUJP telah diperpanjang                                                      December 29, 2023, IUJP has been extended
       selama 5 tahun.                                                                                for 5 years.




                                                                                - 15 -
Page 173
PT GOLDEN ENERGY MINES Tbk                                                   PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                      AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                      As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,             (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


       BORNEO                                                     BORNEO

       BORNEO telah memperoleh izin Pengusahaan                   BORNEO has obtained licenses to conduct
       Pertambangan Batubara dari instansi-instansi               coal mining activities from the following
       berikut:                                                   institutes:

       •   Pemerintah Republik Indonesia diwakili                 •   The Government of the Republic of
           oleh PT Tambang Batubara Bukit Asam                        Indonesia as represented by PT Tambang
           (Persero)          (PTBA)          dalam                   Batubara Bukit Asam (Persero) (PTBA) in
           Perjanjian   Kerjasama      Pengusahaan                    Coal     Contract  of   Work    (CCoW)
           Pertambangan        Batubara    (PKP2B)                    No.      007/PK/PTBA-BI/1994      dated
           No.     007/PK/PTBA-BI/1994       tanggal                  August 15, 1994. Based on the
           15     Agustus     1994.     Berdasarkan                   Amendment in CCoW between PTBA and
           Amendemen PKP2B antara PTBA dan                            BORNEO dated June 27, 1997, effective
           BORNEO tanggal 27 Juni 1997, efektif                       July 1, 1997, all of PTBA’s rights and
           sejak tanggal 1 Juli 1997 semua hak dan                    obligations in CCoW have been
           kewajiban PTBA dalam PKP2B beralih                         transferred to the Government of the
           kepada Pemerintah Republik Indonesia                       Republic of Indonesia which was
           yang diwakili oleh Menteri Energi dan                      represented by Minister of Energy and
           Sumber Daya Mineral.                                       Mineral Resources.
       •   Pada 5 Agustus 2015, Pemerintah                        •   On August 5, 2015, the Government of the
           Republik Indonesia dan BORNEO telah                        Republic of Indonesia and BORNEO have
           menandatangani Amendemen           kedua                   signed the second Amendment of CCoW.
           PKP2B.
       •   Keputusan Menteri Energi dan Sumber                    •   Minister    of   Energy   and   Mineral
           Daya Mineral No. 10.K/40.00/DJB/ 2006                      Resources in his Decision Letter
           tanggal 17 Februari 2006 tentang                           No.       10.K/40.00/DJB/2006     dated
           Permulaan Tahap Kegiatan Produksi                          February 17, 2006 concerning the
           PKP2B seluas 24.100 hektar untuk jangka                    Beginning Stage of Production Activity of
           waktu 30 tahun.                                            CCoW for 24,100 hectares for a period of
                                                                      30 years.

       Berdasarkan    Keputusan     dari   Menteri                Based on Decision of the Minister of
       Perhubungan No. KP 26 Tahun 2014 tanggal                   Transportation No. KP 26 Tahun 2014 dated
       9 Januari 2014, BORNEO telah memperoleh                    January 9, 2014, BORNEO has obtained
       Persetujuan Pengelolaan Terminal Untuk                     Transportation License for the Operational
       Kepentingan Sendiri (TUKS) di dalam daerah                 Activities of Terminal for Self Interest (TUKS) in
       lingkungan kerja dan daerah lingkungan                     operational territory and interest related
       kepentingan Pelabuhan Kotabaru, guna                       territory of Kotabaru port, to support
       menunjang kegiatan usaha di bidang                         BORNEO’s coal mining activities.
       pertambangan batubara BORNEO.

       Berdasarkan Perizinan Berusaha Untuk                       Based on Perizinan Berusaha Untuk
       Menunjang Kegiatan Usaha (PB-UMKU)                         Menunjang Kegiatan Usaha (PB-UMKU)
       No.     812031113135600170001     tanggal                  No.      812031113135600170001         dated
       1 Oktober 2024, BORNEO telah mendapatkan                   October 1, 2024, BORNEO has obtained the
       perpanjangan dengan masa berlaku 5 tahun                   extension for 5 years to carry out TUKS
       untuk melaksanakan kegiatan Pengoperasian                  Operation activities to support BORNEO’s coal
       TUKS guna menunjang kegiatan usaha                         mining activities.
       pertambangan Batubara BORNEO.

       Berdasarkan   Surat   Direktorat Jenderal                  Based on the letter from Directorate General of
       Perdagangan          Luar          Negeri                  Foreign Trade No. 03.ET-04.23.0254 dated
       No. 03.ET-04.23.0254 tanggal 8 Mei 2023,                   May 8, 2023, BORNEO has obtained
       BORNEO telah memperoleh penetapan                          recognition as a registered coal exporter.
       sebagai Eksportir Terdaftar Batubara dan
       Produk Batubara.




                                                       - 16 -
Page 174
PT GOLDEN ENERGY MINES Tbk                                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                       unless Otherwise Stated)


       KCP                                                                                    KCP

       KCP telah memperoleh izin pengusahaan                                                  KCP has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                 licenses:
                                                                         Luas Area/                 No. Surat Keputusan/                  Masa Berlaku/
        No.          Ijin KP/Licenses           Daerah/Location             Area                     Decision Letter No.                    Validity
                                                                        Hektar/Hectare

        1.    IUP Operasi Produksi/           Dusun Tanjung Belit,           143                  Keputusan Bupati Bungo/               22 Juli/July 2009
              Production Operations            Kecamatan Jujuhan,                                 Decision of Bupati Bungo                  s.d./up to
                                               Kabupaten Bungo,                                  No. 350/DESDM Tahun 2009               21 Juli/July 2019
                                             Provinsi/Province Jambi

        2.    SK Perpanjangan                 Dusun Tanjung Belit,           143           Keputusan Kepala Dinas Penanaman Modal/   24 Oktober/October 2018
              IUP Operasi Produksi/            Kecamatan Jujuhan,                                 Decision of Head Investment               s.d./up to
              Decision Letter on Extension     Kabupaten Bungo,                           No. 183/KEP.KA.DPMPTSP-6.I/IUPOP/X/2018    24 Oktober/October 2028
              of Production Operations       Provinsi/Province Jambi


       Berdasarkan           Surat          Direktorat                                        Based on the letter from Directorate General of
       Jenderal    Perdagangan        Luar     Negeri                                         Foreign Trade No. 03.ET-04.17.0204 dated
       No. 03.ET-04.17.0204 tanggal 19 Desember                                               December 19, 2017, KCP has obtained
       2017, KCP telah memperoleh penetapan                                                   recognition as a registered coal exporter.
       sebagai Eksportir Terdaftar Batubara.

       Berdasarkan           Surat          Direktorat                                        Based on the letter from Directorate General of
       Jenderal    Perdagangan        Luar     Negeri                                         Foreign Trade No. 03.ET-04.20.0215 dated
       No. 03.ET-04.20.0215 tanggal 2 November                                                November 2, 2020, KCP has obtained
       2020, KCP telah memperoleh penetapan                                                   recognition as a registered coal exporter.
       sebagai Eksportir Terdaftar Batubara.

       BBU                                                                                    BBU

       BBU telah memperoleh izin pengusahaan                                                  BBU has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                 licenses:
                                                                          Luas Area/                  No. Surat Keputusan/                  Masa Berlaku/
        No.          Ijin KP/Licenses            Daerah/Location             Area                      Decision Letter No.                    Validity
                                                                         Hektar/Hectare

        1     IUP Operasi Produksi/           Dusun Tanjung Belit,           1.301                 Keputusan Bupati Bungo/                 9 Juli/July 2009
              Production Operations            Kecamatan Jujuhan,                                  Decision of Bupati Bungo                   s.d./up to
                                               Kabupaten Bungo,                                   No. 341/DESDM Tahun 2009                 8 Juli/July 2029
                                             Provinsi/Province Jambi


       Berdasarkan           Surat          Direktorat                                        Based on the letter from Directorate General of
       Jenderal    Perdagangan        Luar     Negeri                                         Foreign Trade No. 03.ET-04.21.0037 dated
       No. 03.ET-04.21.0037 tanggal 19 Februari                                               February 19, 2021, BBU has obtained
       2021, BBU telah memperoleh penetapan                                                   recognition as a registered coal exporter.
       sebagai Eksportir Terdaftar Batubara

       Berdasarkan      Surat   Direktorat Jenderal                                           Based on the letter from Directorate General of
       Perdagangan              Luar         Negeri                                           Foreign Trade No. 03.ET-04.24.0133 dated
       No. 03.ET-04.24.0133 tanggal 13 Maret 2024,                                            March 13, 2024, BBU has obtained recognition
       BBU telah memperoleh penetapan sebagai                                                 as a registered coal exporter.
       Eksportir Terdaftar Batubara




                                                                       - 17 -
Page 175
PT GOLDEN ENERGY MINES Tbk                                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                       unless Otherwise Stated)


       BHBA                                                                                  BHBA

       BHBA telah memperoleh izin pengusahaan                                                BHBA has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                licenses:

                                                                          Luas Area/                 No. Surat Keputusan/                      Masa Berlaku/
        No.          Ijin KP/Licenses           Daerah/Location             Area                      Decision Letter No.                          Validity
                                                                        Hektar/Hectare

        1.    IUP Operasi Produksi/           Dusun Tanjung Belit,           172                   Keputusan Bupati Bungo/                 23 April 2010 s.d./up to
              Production Operations            Kecamatan Jujuhan,                                  Decision of Bupati Bungo                    22 April 2016
                                               Kabupaten Bungo,                                   No. 247/DESDM Tahun 2010
                                             Provinsi/Province Jambi

        2.    SK Perpanjangan                 Dusun Tanjung Belit,           172                   Keputusan Bupati Bungo/               18 Desember/December 2014
              IUP Operasi Produksi/            Kecamatan Jujuhan,                                  Decision of Bupati Bungo                      s.d./up to
              Decision Letter on Extension     Kabupaten Bungo,                                   No. 576/DESDM Tahun 2014               17 Desember/December 2024
              of Production Operations       Provinsi/Province Jambi

        3     SK Perpanjangan                 Dusun Tanjung Belit,           172                  Keputusan Menteri Energi dan             29 Oktober/October 2024
              IUP Operasi Produksi/            Kecamatan Jujuhan,                               Sumber Daya Mineral/Decision of                   s.d./up to
              Decision Letter on Extension     Kabupaten Bungo,                           the Minister of Energy and Mineral Resources   18 Desember/December 2034
              of Production Operations       Provinsi/Province Jambi                                 No. 91204031317760006


       BNP                                                                                   BNP

       BNP telah memperoleh izin pengusahaan                                                 BNP has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                licenses:

                                                                           Luas Area/                 No. Surat Keputusan/                      Masa Berlaku/
        No.          Ijin KP/Licenses           Daerah/Location              Area                      Decision Letter No.                          Validity
                                                                         Hektar/Hectare

        1.    IUP Operasi Produksi/           Dusun Tanjung Belit,            199                  Keputusan Bupati Bungo/               30 Desember/December 2009
              Production Operations            Kecamatan Jujuhan,                                  Decision of Bupati Bungo                       s.d./up to
                                               Kabupaten Bungo,                                   No. 545/DESDM Tahun 2010                 29 Oktober/October 2019
                                             Provinsi/Province Jambi

        2.    SK Perpanjangan                 Dusun Tanjung Belit,            199                  Keputusan Bupati Bungo/                   8 April 2019 s.d./up to
              IUP Operasi Produksi/            Kecamatan Jujuhan,                                  Decision of Bupati Bungo              30 Desember/December 2029
              Decision Letter on Extension     Kabupaten Bungo,                           No. 85/KEP.KA.DPMPTSP-6.1/IUPOP/IV/2019
              of Production Operations       Provinsi/Province Jambi


       TBBU                                                                                  TBBU

       TBBU telah memperoleh izin pengusahaan                                                TBBU has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                licenses:

                                                                          Luas Area/                  No. Surat Keputusan/                      Masa Berlaku/
        No.          Ijin KP/Licenses           Daerah/Location              Area                      Decision Letter No.                        Validity
                                                                         Hektar/Hectare

        1.    IUP Operasi Produksi/           Dusun Tanjung Belit,            198                  Keputusan Bupati Bungo/                  23 April 2010 s.d./up to
              Production Operations           Kecamatan Jujuhan,                                   Decision of Bupati Bungo                     22 April 2018
                                               Kabupaten Bungo,                                   No. 249/DESDM Tahun 2010
                                             Provinsi/Province Jambi

        2.    SK Perpanjangan                 Dusun Tanjung Belit,            198          Keputusan Kepala Dinas Penanaman Modal/          2 Oktober/October 2017
              IUP Operasi Produksi/            Kecamatan Jujuhan,                                 Decision of Head Investment                      s.d./up to
              Decision Letter on Extension     Kabupaten Bungo,                           No. 267/KEP.KA.DPMPTSP-6.I/IUPOP/X/2017           1 Oktober/October 2027
              of Production Operations       Provinsi/Province Jambi




                                                                       - 18 -
Page 176
PT GOLDEN ENERGY MINES Tbk                                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                          unless Otherwise Stated)


       WRL                                                                                       WRL

       WRL telah memperoleh izin pengusahaan                                                     WRL has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                    licenses:

                                                                             Luas Area/                 No. Surat Keputusan/                   Masa Berlaku/
        No.          Ijin KP/Licenses              Daerah/Location              Area                     Decision Letter No.                     Validity
                                                                            Hektar/Hectare

        1.    IUP Operasi Produksi/             Kecamatan Sungai Keruh,          4.739            Keputusan Bupati Musi Banyuasin/           21 November 2008
              Production Operations            Kabupaten Musi Banyuasin,                          Decision of Bupati Musi Banyuasin              s.d./up to
                                                   Provinsi/Province                                    No. 1416 Tahun 2012                  21 November 2017
                                                 Sumatera Selatan/South

        2.    Persetujuan Perubahan Masa        Kecamatan Sungai Keruh,          4.739          Keputusan Gubernur Sumatera Selatan/          Perpanjangan ijin
              Berlaku IUP Operasi Produksi/    Kabupaten Musi Banyuasin,                         Decision of Governor South Sumatera          sampai dengan/
              Approval Change of IUP               Provinsi/Province                             No. 234/KPTS/DISPERTAMBEN/2016         Extension of the License until
              Production Operations Validity     Sumatera Selatan/South                                                                      20 November 2027


       BSA                                                                                       BSA

       BSA telah memperoleh izin pengusahaan                                                     BSA has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                    licenses:

                                                                             Luas Area/                No. Surat Keputusan/                    Masa Berlaku/
        No.          Ijin KP/Licenses              Daerah/Location              Area                    Decision Letter No.                      Validity
                                                                            Hektar/Hectare

        1.    IUP Operasi Produksi/            Kecamatan Asam Jujuhan,           199            Keputusan Gubernur Sumatera Barat/          20 September 2017
              Production Operations            Kabupaten Dharmasraya,                           Decision of Governor West Sumatera              s.d./up to
                                                   Provinsi/Province                                     No. 544-258-2017                   20 September 2027
                                                 Sumatera Barat/West


       KIS                                                                                       KIS

       KIS telah memperoleh izin pengusahaan                                                     KIS has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                    licenses:

                                                                             Luas Area/                 No. Surat Keputusan/                   Masa Berlaku/
        No.          Ijin KP/Licenses              Daerah/Location              Area                     Decision Letter No.                     Validity
                                                                            Hektar/Hectare

        1.    IUP Operasi Produksi dan            Kecamatan Jujuhan,             199                   Keputusan Bupati Bungo/                  23 April 2010
              Perubahan atas IUP tersebut/         Kabupaten Bungo,                                    Decision of Bupati Bungo                  s.d./up to
              Production Operations and         Provinsi/Province Jambi                              No. 251/DESDM Tahun 2010                   22 April 2020
              the Change of the IUP                                                                  Jo. Keputusan Bupati Bungo/
                                                                                                     Jo. Decision of Bupati Bungo
                                                                                                     No. 166/DESDM Tahun 2012

        2.    Persetujuan Pengalihan              Kecamatan Jujuhan,             199          Keputusan Kepala Dinas Penanaman Modal/      14 Maret/March 2018
              IUP Operasi Produksi/                Kabupaten Bungo,                                  Decision of Head Investment                 s.d./up to
              The Approved Transferred          Provinsi/Province Jambi                      No. 60/KEP.KA.DPMPTSP-6.1/IUPOP/III/2018     2 Oktober/October 2027
              IUP Production Operations


       BBM                                                                                       BBM

       BBM telah memperoleh izin pengusahaan                                                     BBM has obtained the following coal mining
       pertambangan batubara sebagai berikut:                                                    licenses:
                                                                             Luas Area/                 No. Surat Keputusan/                  Masa Berlaku/
        No.          Ijin KP/Licenses              Daerah/Location              Area                     Decision Letter No.                    Validity
                                                                            Hektar/Hectare

        1.    IUP Operasi Produksi/              Dusun Tanjung Belit,            199                 Keputusan Bupati Bungo/                   23 April 2010
              Production Operations              Kecamatan Jujuhan,                                  Decision of Bupati Bungo                   s.d./up to
                                                  Kabupaten Bungo,                                  No. 250/DESDM Tahun 2010                   22 April 2018
                                                Provinsi/Province Jambi

        2.    SK Perpanjangan                    Dusun Tanjung Belit,            199          Keputusan Kepala Dinas Penanaman Modal/    2 Oktober/October 2017
              IUP Operasi Produksi/              Kecamatan Jujuhan,                                  Decision of Head Investment                s.d./up to
              Decision Letter on Extension        Kabupaten Bungo,                           No. 268/KEP.KA.DPMPTSP-6.I/IUPOP/X/2017     2 Oktober/October 2027
              of Production Operations          Provinsi/Province Jambi

        3.    Persetujuan Pengalihan              Kecamatan Jujuhan,             199          Keputusan Kepala Dinas Penanaman Modal/     14 Maret/March 2018
              IUP Operasi Produksi/                Kabupaten Bungo,                                  Decision of Head Investment                s.d./up to
              The Approved Transferred          Provinsi/Province Jambi                      No. 59/KEP.KA.DPMPTSP-6.1/IUPOP/III/2018    2 Oktober/October 2027
              IUP Production Operations




                                                                           - 19 -
Page 177
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


       BSL                                                           BSL

       BSL telah memperoleh izin Pengusahaan                         BSL has obtained licenses to conduct coal
       Pertambangan Batubara dari instansi-instansi                  mining activities from the following institutes:
       berikut:

       •     Pemerintah Republik Indonesia diwakili                  •     The Government of the Republic of
             oleh PT Tambang Batubara Bukit                                Indonesia as represented by PT Tambang
             Asam       (Persero)    (PTBA)     dalam                      Batubara Bukit Asam (Persero) (PTBA) in
             Perjanjian    Kerjasama     Pengusahaan                       Coal    Contract     of   Work    (CCoW)
             Pertambangan        Batubara     (PKP2B)                      No.      015/PK/PTBA-BL/1994        dated
             No.     015/PK/PTBA-BL/1994       tanggal                     August 15, 1994. Based on the changes
             15 Agustus 1994. Berdasarkan perubahan                        in CCoW between PTBA and BSL dated
             PKP2B antara PTBA dan BSL tanggal                             June 27, 1997, effective July 1, 1997,
             27 Juni 1997, efektif sejak tanggal 1 Juli                    all of PTBA’s rights and obligations in
             1997 semua hak dan kewajiban PTBA                             CCoW have been transferred to the
             dalam PKP2B beralih kepada Pemerintah                         Government of the Republic of Indonesia
             Republik Indonesia yang diwakili oleh                         which was represented by Minister of
             Menteri Pertambangan dan Energi                               Mining and Energy (currently the Minister
             (sekarang Menteri Energi dan Sumber                           of Energy and Mineral Resources).
             Daya Mineral). Pada 14 November 2017,                         On November 14, 2017, the Government
             Pemerintah Republik Indonesia dan BSL                         of the Republic of Indonesia and BSL have
             telah menandatangani Amendemen kedua                          signed the second Amendment of CCoW.
             PKP2B.
       •     Menteri Energi dan Sumber Daya                          •     Minister    of   Energy     and    Mineral
             Mineral     dalam     Surat    Keputusan                      Resources in his Decision Letter
             No. 718.K/30/DJB/2011 tanggal 31 Maret                        No.        718.K/30/DJB/2011        dated
             2011 tentang Permulaan Tahap Kegiatan                         March 31, 2011 concerning the Beginning
             Produksi PKP2B untuk jangka waktu                             Stage of Production Activity of CCoW for a
             30 tahun.                                                     period of 30 years.
       •     Menteri Energi dan Sumber Daya                          •     Minister    of   Energy     and    Mineral
             Mineral     dalam     Surat    Keputusan                      Resourcein      his    Decision     Letter
             No. 247.K/30/DJB/2018 tanggal 28 Mei                          No.        247.K/30/DJB/2018        dated
             2018 tentang Penciutan Wilayah PKP2B                          May 28, 2018 concerning the Region
             seluas 23.300 hektar.                                         Shrinkage of CCoW for 23,300 hectares.

       Berdasarkan     Surat     Direktorat Jenderal                 Based on the letter from Directorate General of
       Perdagangan Luar Negeri tanggal 9 Juli 2020,                  Foreign Trade dated July 9, 2020, BSL has
       BSL telah memperoleh pengakuan sebagai                        obtained recognition as a registered coal
       eksportir batubara terdaftar.                                 exporter.

       Berdasarkan Surat Pengakuan sebagai                           Based on the letter of Recognition Registered
       Eksportir Terdaftar Batubara ET. Batubara                     as   Exporter of Coal ET. Batubara
       No. 03.ET-04.23.0376 tanggal 22 Juni 2023,                    No. 03.ET04.23.0376 on June 22, 2023, BSL
       BSL telah memperoleh pengakuan sebagai                        has obtained recognition as a registered coal
       eksportir batubara terdaftar.                                 exporter.

       Berdasarkan Undang-undang No. 3 tahun 2020                    In accordance with Law No. 3 year 2020 update
       tentang perubahan atas Undang-undang                          from Law No. 4 year 2009, regarding mineral
       No. 4 Tahun 2009 tentang pertambangan                         and coal mining, the Group’s mining licenses
       mineral dan batubara, izin pertambangan Grup                  can be extended twice for a maximum of 10
       dapat diperpanjang dua kali, masing-masing                    years, each.
       maksimal selama 10 tahun.




                                                          - 20 -
Page 178
PT GOLDEN ENERGY MINES Tbk                                                                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                    unless Otherwise Stated)


   e.   Area Eksplorasi dan Eksploitasi                                                                           e.      Exploration and Exploitation Area

        Grup memiliki area eksplorasi maupun                                                                              The details of the Group’s exploration and
        eksploitasi/pengembangan sebagai berikut                                                                          exploitation/development area are as follows
        (tidak diaudit):                                                                                                  (unaudited):

                                                                                Jumlah Aset Pertambangan
                                                                                   untuk Tambang dalam
                                                                                 Pengembangan dan pada                    Jumlah Cadangan                                    Jumlah Cadangan
                                                                                   Tahap Produksi pada                  Terbukti dan Terduga      Jumlah Produksi untuk    Terbukti dan Terduga
                                                                                Tanggal 31 Desember 2024/                   pada Tanggal           Peiode yang Berakhir        pada Tanggal
                                                                                 Total Mine Properties for              31 Desember 2023 3)/      31 Desember 2024 3)/     31 Desember 2024 3)/
                                                                               Mines under Construction and               Total Proven and           Total Production        Total Proven and
            Pemilik/                            Nama Lokasi/                      Producing Mines as of                Probable Reserves as of      for the year ended    Probable Reserves as of
        License Owner                             Location                          December 31, 2024                   December 31, 2023 3)      December 31, 2024 3)     December 31, 2024 3)
                                                                                           US$                               Jutaan ton/                 Jutaan ton/            Jutaan ton/
                                                                                                                             Million Tons               Million Tons            Million Tons

                                 Blok/Block Kusan dan Girimulya 2) 6)                            132.774.570                             602,1                    45,9                      556,2
           BORNEO                Blok/Block Sebamban 2) 6)                   Blok/Block            1.043.214                              12,5                     0,8                       11,7
                                 Blok/Block Batulaki 2) 6)                   BORNEO                   13.890                               8,6                     0,1                        8,5
                                 Blok/Block Pasopati 2) 6)                                                 -                               1,9                       -                        1,9

              KIM                Blok/Block - II Muara Bungo 2) 5)                                            -

                                                            2) 5)
             KCP                 Blok/Block - Muara Bungo                                                     -

             TBBU                                           1) 5)             Blok/Block           1.465.135                               49,9                     2,3                       47,6
                                 Blok/Block - Muara Bungo
                                                                                 KIM
             BBU                 Blok/Block - Muara Bungo 1) 5)                                      80.470

              BNP                                           1) 5)                                    45.297
                                 Blok/Block - Muara Bungo

             WRL                                                5) 7)                               451.230                                87,2                       -                       87,2
                                 Blok/Block - Musi Banyuasin

              TKS                                          4)                                                 -                             -                         -                          -
                                 Blok/Block Muara Teweh
                                 Blok/Block Ampah 4) 5)                                                       -                             0,6                       -                        0,6

              BSL                Blok/Block Musi Rawas 2) 5)                                      58.332.544                             187,1                      1,6                     185,5

        Jumlah/Total                                                                             194.206.350                             949,9                    50,7                      899,2


        Catatan/Notes :
                          1)
                             Tambang dalam Pengembangan/Mines under Construction
                          2)
                             Sebagian merupakan Aset Pertambangan - Tambang dalam Pengembangan/Part is included in Mine Properties - Mines under Construction
                          3)
                             Tidak diaudit/Unaudited
                          4)
                             Berdasarkan data internal/Based on internal data
                          5)
                             Berdasarkan JORC Reserve Statement dari Salva Mining Pty. Ltd., pihak independen, yang diterbitkan pada bulan Januari 2023 dan setelah memperhitungkan produksi
                             batubara sampai dengan bulan Desember 2024 (jika ada)/
                             Based on JORC Reserve Statement from Salva Mining Pty. Ltd., an independent party, as issued in January 2023, and after considering coal production up to
                             December 2024 (if any)
                          6)
                             Berdasarkan Laporan KCMI/Based on KCMI Report
                          7)
                               Aset Eksplorasi dan Evaluasi/Exploration and Evaluation Asset.


        Akumulasi jumlah produksi batubara Grup                                                                           The Group’s accumulated total coal production
        sejak awal kegiatan eksploitasi sampai dengan                                                                     since the beginning of exploitation activity until
        tanggal 31 Desember 2024 dan 2023 masing-                                                                         December 31, 2024 and 2023 totaled to 308.50
        masing sebesar 308,50 juta ton dan 257,12 juta                                                                    million tons and 257.12 million tons,
        ton (tidak diaudit).                                                                                              respectively (unaudited).




                                                                                                - 21 -
Page 179
PT GOLDEN ENERGY MINES Tbk                                                                               PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                  AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                    Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                  As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                         (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                         unless Otherwise Stated)


   f.   Cadangan Batubara                                                              f.     Coal Reserves

        Jumlah cadangan yang dimiliki oleh Grup pada                                          The details of coal reserves owned by the
        tanggal 31 Desember 2024 (tidak diaudit)                                              Group as of December 31, 2024 (unaudited),
        adalah sebagai berikut:                                                               follows:

                                                                                                            Cadangan Batubara/Coal Reserves
                                          Lokasi/Location                                       Terbukti/Proven    Terduga/Probable      Jumlah/Total
                                                                                                  Jutaan Ton/         Jutaan Ton/         Jutaan Ton/
                                                                                                 Million Tons        Million Tons         Million Tons

        Blok/Block BORNEO                                                                                  546,6                31,7                 578,3 2)
        Blok/Block KIM                                                                                      39,9                 7,7                  47,6 1)
        Blok/Block BSL                                                                                     137,7                47,8                 185,5 1)
        Blok/Block WRL                                                                                      33,8                53,4                  87,2 1)
        Blok/Block TKS                                                                                       0,2                 0,4                   0,6 1)

        Jumlah/Total                                                                                       758,2               141,0                 899,2

        Catatan/Notes :
        1)
              Berdasarkan JORC Reserve Statement dari Salva Mining Pty. Ltd., pihak independen, yang diterbitkan pada bulan Januari 2023 (Catatan 1f) dan
              setelah memperhitungkan produksi batubara sampai dengan Desember 2024 (jika ada)/
              Based on JORC Reserve Statement from Salva Mining Pty. Ltd., an independent party, issued in January 2023 (Note 1f) and after considering coal
              production up to December 2024 (if any)
        2)    Berdasarkan Laporan KCMI/Based on KCMI Report


        Jumlah cadangan yang dimiliki oleh Grup pada                                          The details of coal reserves owned by the
        tanggal 31 Desember 2023 (tidak diaudit)                                              Group as of December 31, 2023 (unaudited),
        adalah sebagai berikut:                                                               follows:

                                                                                                            Cadangan Batubara/Coal Reserves
                                          Lokasi/Location                                       Terbukti/Proven    Terduga/Probable      Jumlah/Total
                                                                                                  Jutaan Ton/         Jutaan Ton/         Jutaan Ton/
                                                                                                 Million Tons        Million Tons         Million Tons

        Blok/Block BORNEO                                                                                  591,2                33,9                 625,1 2)
        Blok/Block KIM                                                                                      39,9                10,0                  49,9 1)
        Blok/Block BSL                                                                                     137,7                49,4                 187,1 1)
        Blok/Block WRL                                                                                      33,8                53,4                  87,2 1)
        Blok/Block TKS                                                                                       0,2                 0,4                   0,6 1)

        Jumlah/Total                                                                                       802,8               147,1                 949,9

        Catatan/Notes :
        1)
              Berdasarkan JORC Reserve Statement dari Salva Mining Pty. Ltd., pihak independen, yang diterbitkan pada bulan Januari 2023 (Catatan 1f) dan
              setelah memperhitungkan produksi batubara sampai dengan Desember 2023 (jika ada)/
              Based on JORC Reserve Statement from Salva Mining Pty. Ltd., an independent party, issued in January 2023 (Note 1f) and after considering coal
              production up to December 2023 (if any)
        2)
              Berdasarkan Laporan KCMI/Based on KCMI Report




                                                                          - 22 -
Page 180
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


   g.   Dewan Direksi, Komisaris dan Karyawan                    g.      Board of Commissioners, Directors and
                                                                         Employees

        Pada tanggal 31 Desember 2024, susunan                           As of December 31, 2024, the members of the
        Dewan Komisaris dan Direksi Perusahaan                           Company’s Boards of Commissioners and
        berdasarkan Akta Pernyataan Keputusan                            Directors based on Deed of Stockholders’
        Rapat No. 129 tanggal 16 Mei 2024, dibuat                        Meeting No. 129 dated May 16, 2024, of
        Hannywati Gunawan, S.H., notaris di Jakarta                      Hannywati Gunawan, S.H., notary in Jakarta,
        adalah sebagai berikut:                                          are as follows:

        Dewan Komisaris                                                                     Board of Commissioners
        Presiden Komisaris                :            Lokita Prasetya                 :    President Commissioner
        Wakil Presiden Komisaris          :     Achmad Ananda Djajanegara              :    Vice President Commissioner
        Komisaris                         :           Alex Sutanto                     :    Commissioners
                                                       Feriwan Sinatra
        Komisaris Independen              :           Bambang Setiawan                 :    Independent Commissioners
                                                        Ketut Sanjaya


        Direksi                                                                             Board of Directors
        Presiden Direktur                 :               Bonifasius                   :    President Director
        Wakil Presiden Direktur           :             Haris Mustarto                 :    Vice President Director
        Direktur                          :              Raden Utoro                   :    Directors
                                                      Yoghi Nuswantoro
                                                          Suhendra
                                                       Paulus Yuniardi


        Pada tanggal 31 Desember 2023, susunan                           As of December 31, 2023, the members of the
        Dewan Komisaris dan Direksi Perusahaan                           Company’s Boards of Commissioners and
        berdasarkan Akta Pernyataan Keputusan                            Directors based on Deed of Stockholders’
        Rapat No. 226 tanggal 22 November 2022 dari                      Meeting No. 226 dated November 22, 2022 of
        Hannywati Gunawan, S.H., notaris di Jakarta                      Hannywati Gunawan, S.H., a public notary in
        adalah sebagai berikut:                                          Jakarta, are as follows:

        Dewan Komisaris                                                                     Board of Commissioners
        Presiden Komisaris                :             Lokita Prasetya                :    President Commissioner
        Wakil Presiden Komisaris          :            Adrian Erlangga                 :    Vice President Commissioner
        Komisaris                         :              Alex Sutanto                  :    Commissioners
                                                        Haris Mustarto
        Komisaris Independen              :           Bambang Setiawan                 :    Independent Commissioners
                                                         Ketut Sanjaya

        Direksi                                                                             Board of Directors
        Presiden Direktur                 :              Bonifasius                    :    President Director
        Wakil Presiden Direktur           :            Feriwan Sinatra                 :    Vice President Director
        Direktur                          :             Raden Utoro                    :    Directors
                                                      Yoghi Nuswantoro
                                                          Suhendra
                                                       Paulus Yuniardi

        Susunan  Komite Audit     pada   tanggal                         The members of the Audit Committee of
        31 Desember 2024 dan 2023 adalah sebagai                         the Company as of December 31, 2024 and
        berikut:                                                         2023 are as follows:

                                        2024                                  2023

        Ketua                :     Bambang Setiawan                      Bambang Setiawan         :     Chairman
        Anggota              :        Irwandy Arif                          Irwandy Arif          :     Members
                                     Ketut Sanjaya                         Ketut Sanjaya




                                                       - 23 -
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PT GOLDEN ENERGY MINES Tbk                                                              PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                 AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                 As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                        (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                        unless Otherwise Stated)


          Personel manajemen kunci Grup terdiri dari                         The key management personnel of the Group
          Komisaris dan Direksi.                                             consists of Commissioners and Directors.

          Jumlah karyawan Grup (tidak diaudit) pada                          As of December 31, 2024 and 2023, the Group
          tanggal 31 Desember 2024 dan 2023 masing-                          has 572 and 557 employees (unaudited),
          masing adalah 572 dan 557 karyawan. Jumlah                         respectively. As of December 31, 2024 and
          karyawan tetap Perusahaan (tidak diaudit)                          2023, the Company has 25 employees
          pada tanggal 31 Desember 2024 dan 2023                             (unaudited), respectively.
          masing-masing adalah 25 karyawan.

     h.   Penyelesaian        Laporan         Keuangan                h.     Completion     of   Consolidated     Financial
          Konsolidasian                                                      Statements

          Laporan keuangan konsolidasian PT Golden                           The consolidated financial statements of
          Energy Mines Tbk dan entitas anak untuk tahun                      PT Golden Energy Mines Tbk and its
          yang berakhir 31 December 2024 telah                               subsidiaries     for     the   year     ended
          diselesaikan dan diotorisasi untuk terbit oleh                     December 31, 2024 were completed and
          Direksi     Perusahaan       pada     tanggal                      authorized for issuance on March 3, 2025 by
          3 Maret 2025. Direksi bertanggung jawab atas                       the Company’s Directors who are responsible
          penyusunan dan penyajian laporan keuangan                          for the preparation and the presentation of the
          konsolidasian tersebut.                                            consolidated financial statements.


2.   Informasi Kebijakan Akuntansi Material                      2.   Material Accounting Policy Information

     a.   Dasar   Penyusunan   dan    Pengukuran                      a.     Basis of Consolidated Financial Statements
          Laporan Keuangan Konsolidasian                                     Preparation and Measurement

          Laporan keuangan konsolidasian disusun dan                         The consolidated financial statements have
          disajikan dengan menggunakan Standar                               been prepared and presented in accordance
          Akuntansi Keuangan di Indonesia, meliputi                          with     Indonesian    Financial   Accounting
          pernyataan dan interpretasi yang diterbitkan                       Standards “SAK” which comprise the
          oleh Dewan Standar Akuntansi Keuangan                              statements and interpretations issued by the
          Ikatan Akuntan Indonesia (IAI) dan Peraturan                       Board of Financial Accounting Standards of the
          OJK No. VIII.G.7 tentang “Penyajian dan                            Institute of Indonesia Chartered Accountants
          Pengungkapan Laporan Keuangan Emiten atau                          (IAI) and OJK Regulation No. VIII.G.7.
          Perusahaan Publik”.                                                regarding “Presentation and Disclosures of
                                                                             Public Companies’ Financial Statements”.
                                                                             Such financial statements are an English
                                                                             translation of the Group’s statutory report in
                                                                             Indonesia.

          Dasar     pengukuran      laporan    keuangan                      The measurement basis used is the historical
          konsolidasian adalah konsep biaya perolehan,                       cost, except for certain accounts which are
          kecuali beberapa akun tertentu disusun                             measured on the bases described in the related
          berdasarkan pengukuran lain, sebagaimana                           accounting policies. The consolidated financial
          diuraikan dalam kebijakan akuntansi masing-                        statements, except for the consolidated
          masing akun tersebut. Laporan keuangan                             statements of cash flows, are prepared under
          konsolidasian ini disusun dengan metode                            the accrual basis of accounting.
          akrual, kecuali laporan arus kas konsolidasian.

          Laporan arus kas konsolidasian disusun                             The consolidated statements of cash flows are
          dengan menggunakan metode langsung                                 prepared using the direct method with
          dengan mengelompokkan arus kas dalam                               classifications of cash flows into operating,
          aktivitas operasi, investasi dan pendanaan.                        investing and financing activities.




                                                            - 24 -
Page 182
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


        Laporan keuangan GEMSTR, entitas anak di                           The financial statements of GEMSTR, a
        Singapura, telah disusun dan disajikan sesuai                      subsidiary in Singapore, has been prepared
        dengan     Singapore    Financial   Reporting                      and presented in accordance with Singapore
        Standards (SFRS). Tidak ada rekonsiliasi                           Financial Reporting Standards (SFRS). There
        antara SFRS dan SAK karena tidak ada                               is no reconciliation between SFRS and SAK as
        perbedaan signifikan antara SFRS dan SAK                           there is no significant difference between SFRS
        yang diterapkan dalam penyusunan dan                               and SAK applied for the preparation and
        penyajian laporan keuangan GEMSTR.                                 presentation       of     GEMSTR’s       financial
                                                                           statements.

        Kebijakan akuntansi yang diterapkan dalam                          The accounting policies adopted in the
        penyusunan laporan keuangan konsolidasian                          preparation of the consolidated financial
        untuk tahun yang berakhir 31 Desember 2024                         statements for the year ended Desember 31,
        adalah konsisten dengan kebijakan akuntansi                        2024 are consistent with those adopted in the
        yang diterapkan dalam penyusunan laporan                           preparation of the consolidated financial
        keuangan konsolidasian untuk tahun yang                            statements     for    the     year    ended
        berakhir 31 Desember 2023.                                         December 31, 2023.

        Grup telah menyusun laporan keuangan                               The Group has prepared the consolidated
        konsolidasian dengan dasar bahwa Grup akan                         financial statements on the basis that it will
        terus beroperasi secara berkesinambungan.                          continue to operate as a going concern.

   b.   Prinsip Konsolidasi                                           b.   Basis of Consolidation

        Laporan keuangan konsolidasian meliputi                            The     consolidated    financial  statements
        laporan keuangan Perusahaan dan entitas-                           incorporate the financial statements of the
        entitas (termasuk entitas terstruktur) yang                        Company and entities (including structured
        dikendalikan oleh Perusahaan dan entitas anak                      entities) controlled by the Company and its
        (Grup). Pengendalian diperoleh apabila Grup                        subsidiaries (the Group). Control is achieved
        memiliki seluruh hal berikut ini:                                  when the Group has all the following:

        i.     kekuasaan atas investee;                                    i.     power over the investee;
        ii.    eksposur atau hak atas imbal hasil variabel                 ii.    is exposed, or has rights, to variable
               dari keterlibatannya dengan investee; dan                          returns from its involvement with the
                                                                                  investee; and
        iii.   kemampuan      untuk     menggunakan                        iii.   the ability to use its power on the investee
               kekuasaannya atas investee untuk                                   to affect its returns.
               mempengaruhi jumlah imbal hasil Grup.

        Bila Grup tidak memiliki hak suara atau hak                        When the Group has less than a majority of the
        serupa secara mayoritas atas suatu investee,                       voting or similar rights of an investee, the Group
        Grup mempertimbangkan semua fakta dan                              considers all relevant facts and circumstances
        keadaan yang relevan dalam mengevaluasi                            in assessing whether it has power over an
        apakah mereka memiliki kekuasaan atas                              investee, including:
        investee, termasuk:

        i)   Pengaturan kontraktual dengan pemilik                         i)     The contractual arrangement with the
             hak suara lainnya dari investee,                                     other vote holders of the investee,
        ii) Hak yang timbul atas pengaturan                                ii)    Rights arising from other contractual
             kontraktual lain, dan                                                arrangements, and
        iii) Hak suara dan hak suara potensial yang                        iii)   The Group's voting rights and potential
             dimiliki Grup.                                                       voting rights.




                                                             - 25 -
Page 183
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


        Grup menilai kembali apakah mereka                                  The Group re-assesses whether or not it
        mengendalikan investee bila fakta dan keadaan                       controls an investee if facts and circumstances
        mengindikasikan adanya perubahan terhadap                           indicate that there are changes to one or more
        satu atau lebih dari ketiga elemen dari                             of the three elements of control. Consolidation
        pengendalian. Konsolidasi atas entitas-entitas                      of a subsidiary begins when the Group obtains
        anak dimulai sejak Grup memperoleh                                  control over the subsidiary and ceases when
        pengendalian atas entitas anak dan berakhir                         the Group loses control of the subsidiary.
        pada saat Grup kehilangan pengendalian atas                         Assets, liabilities, income and expenses of a
        entitas anak. Aset, liabilitas, penghasilan dan                     subsidiary acquired during the year are
        beban dari entitas anak yang diakuisisi pada                        included in the consolidated financial
        tahun tertentu disertakan dalam laporan                             statements from the date the Group gains
        keuangan konsolidasian sejak tanggal Grup                           control until the date the Group ceases to
        memperoleh kendali sampai tanggal Grup tidak                        control the subsidiary.
        lagi mengendalikan entitas anak tersebut.

        Seluruh laba rugi dan setiap komponen                               Profit or loss and each component of other
        penghasilan       komprehensif     lain   (PKL)                     comprehensive income (OCI) are attributed to
        diatribusikan pada pemilik entitas induk dan                        the equity holders of the parent of the Group
        pada kepentingan nonpengendali (KNP),                               and to the non-controlling interests (NCI), even
        walaupun hal ini akan menyebabkan saldo KNP                         if this results in the NCI having a deficit balance.
        yang defisit. Bila dipandang perlu, penyesuaian                     When necessary, adjustments are made to the
        dilakukan terhadap laporan keuangan entitas                         financial statements of subsidiaries to bring
        anak untuk diselaraskan dengan kebijakan                            their accounting policies into line with the
        akuntansi Grup.                                                     Group’s accounting policies.

        Seluruh aset dan liabilitas, ekuitas, penghasilan                   All intra-group assets and liabilities, equity,
        dan beban dan arus kas atas transaksi antar                         income, expenses and cash flows relation to
        anggota Grup dieliminasi sepenuhnya pada                            transactions between members of the Group
        saat konsolidasi.                                                   are eliminated in full on consolidation.

        Perubahan dalam bagian kepemilikan entitas                          A change in the parent’s ownership interest in a
        induk pada entitas anak yang tidak                                  subsidiary, without a loss of control, is
        mengakibatkan       hilangnya    pengendalian,                      accounted for as an equity transaction. If the
        dicatat sebagai transaksi ekuitas. Bila Grup                        Group loses control over a subsidiary, it
        kehilangan pengendalian atas suatu entitas                          derecognizes the related assets (including
        anak, maka menghentikan pengakuan atas                              goodwill), liabilities, NCI and other component
        aset (termasuk goodwill), liabilitas, KNP dan                       of equity, while the difference is recognized in
        komponen lain dari ekuitas terkait, dan                             the profit or loss. Any investment retained is
        selisihnya diakui pada laba rugi. Bagian dari                       recognized at fair value.
        investasi yang tersisa diakui pada nilai wajar.

   c.   Penjabaran Mata Uang Asing                                   c.     Foreign Currency Translation

        Mata Uang Fungsional dan Pelaporan                                  Functional and Reporting Currencies

        Akun-akun yang tercakup dalam laporan                               Items included in the financial statements of
        keuangan setiap entitas dalam Grup diukur                           each of the Group’s companies are measured
        menggunakan mata uang dari lingkungan                               using the currency of the primary economic
        ekonomi utama dimana entitas beroperasi                             environment in which the entity operates (the
        (mata uang fungsional).                                             functional currency).




                                                            - 26 -
Page 184
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


        Transaksi dan Saldo                                               Transaction and Balances

        Transaksi dalam mata uang asing dicatat                           Transactions involving foreign currencies are
        berdasarkan kurs yang berlaku pada saat                           recorded at the rates of exchange prevailing at
        transaksi dilakukan. Pada tanggal pelaporan,                      the time the transactions are made. At the
        aset dan liabilitas moneter dalam mata uang                       reporting date, monetary assets and liabilities
        asing dijabarkan sesuai dengan rata-rata kurs                     denominated in foreign currencies are adjusted
        jual dan beli yang diterbitkan oleh Bank                          to reflect the average of the selling and buying
        Indonesia pada tanggal transaksi perbankan                        rates of exchange prevailing at the last banking
        terakhir untuk tahun yang bersangkutan dan                        transaction date of the year, as published by
        laba atau rugi kurs yang timbul, dikreditkan atau                 Bank Indonesia and any resulting gains or
        dibebankan pada operasi tahun berjalan.                           losses are credited or charged to operations of
                                                                          the current year.

        Grup menggunakan Dolar Amerika Serikat                            The Group used United States Dollar (USD) as
        (USD) sebagai mata uang fungsional dan                            the Group’s functional and reporting currency.
        pelaporan Grup.

        Sehubungan dengan penyajian laporan                               In preparing the consolidated financial
        keuangan      konsolidasian     Grup,    laporan                  statements of the Group, financial statements
        keuangan RCI, TKS, UNSOCO, KMS, GEMS                              of RCI, TKS, UNSOCO, KMS, GEMS Energy
        Energy serta EMS dan entitas anaknya                              and EMS and its subsidiaries were translated to
        dijabarkan ke dalam mata uang Dolar Amerika                       United States Dollar currency based on the
        Serikat dengan cara sebagai berikut:                              following:
        •    Aset dan liabilitas, baik moneter maupun                     •    Assets and liabilities, both monetary and
             non-moneter,        dijabarkan      dengan                        non-monetary, are translated using the
             menggunakan kurs penutup;                                         closing rate of exchange;
        •    Pendapatan dan beban dijabarkan dengan                       •    Revenues and expenses are translated
             menggunakan kurs yang berlaku pada                                using transactions date exchange rate or,
             tanggal transaksi atau, bila memenuhi                             if applicable, the average rate for the year;
             syarat, kurs rata-rata tahun tersebut;
        •    Selisih kurs yang terjadi disajikan sebagai                  •       The resulting exchange difference is
             “Komponen Ekuitas Lainnya” sebagai                                   presented     as     an    “Other Equity
             bagian dari ekuitas sampai pelepasan                                 Component” in the equity section until
             investasi neto yang bersangkutan.                                    disposal of the net investment.

        Pada tanggal 31 Desember 2024 dan 2023,                           As of December 31, 2024 and 2023, the
        kurs konversi yakni kurs tengah Bank                              conversion rates used by the Group were the
        Indonesia, yang digunakan oleh Grup adalah                        middle rates of Bank Indonesia as follows:
        sebagai berikut:

                     Valuta Asing                     2024                2023                      Foreign Currency
                                                      US$                 US$
        1.000 Rupiah                                        0,0619               0,0649   1,000 Rupiah
        1 Dolar Singapura                                   0,7375               0,7597   1 Singapore Dollar

   d.   Klasifikasi Lancar dan Tidak Lancar                          d.   Current and Non-current Classification

        Grup menyajikan aset dan liabilitas dalam                         The Group presents assets and liabilities in the
        laporan   posisi    keuangan      konsolidasian                   consolidated statement of financial position
        berdasarkan klasifikasi lancar/tak lancar.                        based on current/non-current classification.

        Suatu aset disajikan lancar bila:                                 An asset is current when it is:

        i)   akan direalisasi, dijual atau dikonsumsi                     i)      expected to be realized or intended to be
             dalam siklus operasi normal,                                         sold or consumed in the normal operating
                                                                                  cycle,
        ii) untuk diperdagangkan,                                         ii)     held primarily for the purpose of trading,
        iii) akan direalisasi dalam 12 bulan setelah                      iii)    expected to be realized within 12 months
             tanggal pelaporan, atau                                              after the reporting period, or


                                                            - 27 -
Page 185
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


        iv) kas atau setara kas kecuali yang dibatasi                       iv) cash or cash equivalent unless restricted
            penggunaannya atau akan digunakan                                   from being exchanged or used to settle a
            untuk melunasi suatu liabilitas dalam kurun                         liability for at least 12 months after the
            waktu 12 bulan setelah tanggal pelaporan.                           reporting period.

        Seluruh aset lain diklasifikasikan sebagai tidak                    All other assets are classified as non-current.
        lancar.

        Suatu liabilitas disajikan jangka pendek bila:                      A liability is current when it is:

        i)    akan dilunasi dalam siklus operasi normal,                    i)   expected to be settled in the normal
                                                                                 operating cycle,
        ii) untuk diperdagangkan,                                           ii) held primarily for the purpose of trading,
        iii) akan dilunasi dalam 12 bulan setelah                           iii) due to be settled within twelve months
             tanggal pelaporan, atau                                             after the reporting period, or
        iv) tidak ada hak pada akhir periode pelaporan                      iv) there is no at the end of the reporting
             untuk    menangguhkan       pelunasannya                            period to defer the settlement of the liability
             dalam kurun waktu 12 bulan setelah                                  for at least twelve months after the
             tanggal pelaporan.                                                  reporting period.

        Seluruh liabilitas lain diklasifikasikan sebagai                    All other liabilities are classified as non-current.
        jangka panjang.

   e.   Pengukuran Nilai Wajar                                       e.     Fair Value Measurement

        Grup mengukur pada pengakuan awal                                   The Group initially measures financial
        Instrumen keuangan, dan aset dan liabilitas                         instruments, and assets and liabilities of the
        yang diperoleh melalui kombinasi bisnis pada                        acquirees upon business combinations at fair
        nilai wajar. Grup juga mengukur jumlah                              value. They also measure certain recoverable
        terpulihkan dari Unit Penghasil Kas (UPK)                           amounts of the Cash Generating Unit (CGU)
        tertentu berdasarkan nilai wajar dikurangi biaya                    using fair value less cost of disposal (FVLCD)
        pelepasan, dan aset keuangan tertentu pada                          and certain financial assets at fair value through
        nilai wajar melalui penghasilan komprehensif                        other comprehensive income (FVOCI).
        lain (NWPKL).

        Nilai wajar adalah harga yang akan diterima                         Fair value is the price that would be received to
        dari menjual suatu aset atau harga yang akan                        sell an asset or paid to transfer a liability in an
        dibayar untuk mengalihkan suatu liabilitas                          orderly     transaction       between       market
        dalam transaksi teratur antara pelaku pasar                         participants at the measurement date. The fair
        pada tanggal pengukuran. Pengukuran nilai                           value measurement is based on the
        wajar mengasumsikan bahwa transaksi untuk                           presumption that the transaction to sell the
        menjual aset atau mengalihkan liabilitas terjadi:                   asset or transfer the liability takes place either:

        i)    Di pasar utama untuk aset atau liabilitas                     i)    In the principal market for the asset or
              tersebut, atau                                                      liability, or
        ii)   Jika tidak terdapat pasar utama, di pasar                     ii)   In the absence of a principal market, in the
              yang paling menguntungkan untuk aset                                most advantageous market for the asset or
              atau liabilitas tersebut.                                           liability.

        Pasar utama atau pasar yang paling                                  The principal or the most advantageous market
        menguntungkan tersebut harus dapat diakses                          must be accessible to by the Group.
        oleh Grup.

        Nilai wajar dari aset atau liabilitas diukur                        The fair value of an asset or a liability is
        dengan menggunakan asumsi yang akan                                 measured using the assumptions that market
        digunakan pelaku pasar ketika menentukan                            participants would use when pricing the asset
        harga aset atau liabilitas tersebut, dengan                         or liability, assuming that market participants
        asumsi bahwa pelaku pasar bertindak dalam                           act in their economic best interest.
        kepentingan ekonomi terbaiknya.




                                                            - 28 -
Page 186
PT GOLDEN ENERGY MINES Tbk                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


       Pengukuran nilai wajar dari suatu aset non                     A fair value measurement of a non-financial
       keuangan memperhitungkan kemampuan                             asset takes into account a market participant's
       pelaku pasar untuk menghasilkan manfaat                        ability to generate economic benefits by using
       ekonomik dengan menggunakan aset dalam                         the asset in its highest and best use or by
       penggunaan tertinggi dan terbaiknya atau                       selling it to another market participant that
       dengan menjualnya kepada pelaku pasar lain                     would use the asset in its highest and best use.
       yang akan menggunakan aset tersebut pada
       penggunaan tertinggi dan terbaiknya.

       Grup menggunakan teknik penilaian yang                         The Group uses valuation techniques that are
       sesuai dengan keadaan dan data yang                            appropriate in the circumstances and for which
       memadai tersedia untuk mengukur nilai wajar,                   sufficient data are available to measure fair
       dengan memaksimalkan masukan (input) yang                      value, maximizing the use of relevant
       dapat diamati (observable) yang relevan dan                    observable inputs and minimizing the use of
       meminimalkan masukan (input) yang tidak                        unobservable inputs.
       dapat diamati (unobservable).

       Semua aset dan liabilitas yang nilai wajarnya                  All assets and liabilities for which fair value is
       diukur atau diungkapkan dalam laporan                          measured or disclosed in the consolidated
       keuangan konsolidasian dikategorikan dalam                     financial statements are categorized within the
       hierarki nilai wajar berdasarkan level masukan                 fair value hierarchy, described as follows,
       (input) paling rendah yang signifikan terhadap                 based on the lowest level input that is
       pengukuran nilai wajar secara keseluruhan                      significant to the fair value measurement as a
       sebagai berikut:                                               whole:

       i)    Level 1 - Harga kuotasian (tanpa                         i)     Level 1 - Quoted (unadjusted) market
             penyesuaian) di pasar aktif untuk aset atau                     prices in active markets for identical assets
             liabilitas yang identik yang dapat diakses                      or liabilities that can be accessed at
             entitas pada tanggal pengukuran.                                measurement date.

       ii)   Level 2 - Teknik penilaian yang                          ii)    Level 2 - Valuation techniques for which
             menggunakan tingkat masukan (input)                             the lowest level input that is significant to
             yang paling rendah yang signifikan                              the fair value measurement is directly or
             terhadap pengukuran nilai wajar yang                            indirectly observable.
             dapat diamati (observable) baik secara
             langsung atau tidak langsung.

       iii) Level 3 - Teknik penilaian yang                           iii)   Level 3 - Valuation techniques for which
            menggunakan tingkat masukan (input)                              the lowest level input that is significant to
            yang paling rendah yang signifikan                               the    fair   value     measurement        is
            terhadap pengukuran nilai wajar yang tidak                       unobservable.
            dapat diamati (unobservable).

       Untuk aset dan liabilitas yang diakui pada                     For assets and liabilities that are recognized in
       laporan keuangan konsolidasian secara                          the consolidated financial statements on a
       berulang, Grup menentukan apakah terdapat                      recurring basis, the Group determines whether
       perpindahan antara level dalam hierarki dengan                 transfers have occurred between levels in the
       melakukan evaluasi ulang atas penetapan                        hierarchy by re-assessing categorization
       kategori (berdasarkan level masukan (input)                    (based on the lowest level input that is
       paling rendah yang signifikan terhadap                         significant to the fair value measurement as a
       pengukuran nilai wajar secara keseluruhan)                     whole) at the end of each reporting period.
       pada tiap akhir periode pelaporan.

       Tim        pelaporan       keuangan       Grup                 The Group’s financial reporting team in charge
       bertanggungjawab atas penilaian dalam                          of valuation to determine the policies and
       menentukan kebijakan dan prosedur untuk                        procedures     for   recurring     fair  value
       pengukuran nilai wajar berulang, seperti nilai                 measurement, such as fair value (less costs of
       wajar (dikurangi biaya untuk menjual) UPK                      disposal) of CGUs (for impairment test
       (untuk uji penurunan nilai), dan aset keuangan                 purpose) and financial assets at FVOCI.
       pada NWPKL.




                                                           - 29 -
Page 187
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


        Keterlibatan penilai eksternal ditentukan setiap                    Involvement of external valuers is decided upon
        tahun setelah dibahas dan disetujui oleh Direksi                    annually after discussion with and approval by
        Perusahaan. Kriteria pemilihan termasuk                             the Company’s Board of Directors. Selection
        pengetahuan pasar, reputasi, independensi dan                       criteria include market knowledge, reputation,
        kemampuan mematuhi standar profesi. Metode                          independence and whether professional
        penilaian dan input yang digunakan dibahas                          standards      are    maintained.      Valuation
        dan diputuskan bersama oleh Grup dan penilai                        techniques and inputs to use were discussed
        eksternal.                                                          and decided by the Group and external valuers.

        Untuk tujuan pengungkapan nilai wajar, Grup                         For the purpose of fair value disclosures, the
        mementukan klasifikasi aset dan liabilitas                          Group has determined classes of assets and
        berdasarkan sifat, karakteristik dan risikonya                      liabilities on the basis of the nature,
        dan level pada hierarki nilai wajar sebagaimana                     characteristics and risks of the asset or liability
        dijelaskan diatas.                                                  and the level of the fair value hierarchy as
                                                                            explained above.

   f.   Kas dan Setara Kas                                           f.     Cash and Cash Equivalents

        Kas dan setara kas dalam laporan posisi                             Cash and cash equivalents in the consolidated
        keuangan konsolidasian yang terdiri dari kas                        statements of financial position comprise cash
        dan bank serta deposito jangka pendek yang                          on hand and in banks and short-term deposits
        jatuh tempo dalam waktu 3 bulan atau kurang,                        with a maturity of 3 months or less, that are
        yang dapat segera dikonversikan menjadi kas                         readily convertible to a known amount of cash
        dalam jumlah yang dapat ditentukan dan                              and subject to an insignificant risk of changes
        memiliki risiko perubahan nilai yang tidak                          in value.
        signifikan.

   g.   Instrumen Keuangan                                           g.     Financial Instruments

        Instrumen keuangan adalah setiap kontrak                            Financial instruments are any contract that
        yang memberikan aset keuangan bagi satu                             gives rise to financial asset of one entity and a
        entitas dan liabilitas keuangan atau ekuitas bagi                   financial liability or equity instrument of another
        entitas lain.                                                       entity.

        Aset Keuangan                                                       Financial Assets

        Pengakuan dan pengukuran awal                                       Initial recognition and measurement

        Pada pengakuan awal, Grup mengukur aset                             At initial recognition, the Group measures a
        keuangan pada nilai wajarnya ditambah biaya                         financial asset at its fair value plus transaction
        transaksi, dalam hal aset keuangan tidak diukur                     costs, in the case of a financial asset not at fair
        pada nilai wajar melalui laba rugi (NWLR).                          value through profit or loss (FVTPL). Trade
        Piutang usaha yang tidak mengandung                                 receivables that do not contain a significant
        komponen pembiayaan yang signifikan, dimana                         financing component, for which the Group has
        Grup telah menerapkan cara praktis, yaitu                           applied the practical expedient are measured at
        diukur pada harga transaksi yang ditentukan                         the transaction price determined under
        sesuai PSAK No. 115.                                                PSAK No. 115.

        Agar aset keuangan diklasifikasikan dan diukur                      In order for a financial asset to be classified and
        pada biaya perolehan diamortisasi atau                              measured at amortized cost or FVOCI, it needs
        NWPKL, aset keuangan harus menghasilkan                             to give rise to cash flows that are ‘solely
        arus kas yang semata dari pembayaran pokok                          payments of principal and interest (SPPI)’ on
        dan bunga (SPPB) dari jumlah pokok terutang.                        the principal amount outstanding. This
        Penilaian ini disebut sebagai uji SPPB dan                          assessment is referred to as the SPPI test and
        dilakukan pada tingkat instrumen.                                   is performed at an instrument level.

        Model bisnis Grup untuk mengelola aset                              The Group’s business model for managing
        keuangan mengacu pada bagaimana mereka                              financial assets refers to how it manages its
        mengelola     aset    keuangannya      untuk                        financial assets in order to generate cash flows.
        menghasilkan arus kas. Model bisnis                                 The business model determines whether cash
        menentukan apakah arus kas akan dihasilkan                          flows will result from collecting contractual cash
        dari penerimaan arus kas kontraktual,                               flows, selling the financial assets, or both.
        penjualan aset keuangan, atau keduanya.

                                                            - 30 -
Page 188
PT GOLDEN ENERGY MINES Tbk                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


       Pengukuran selanjutnya                                         Subsequent measurement

       Untuk tujuan pengukuran selanjutnya, aset                      For purposes of subsequent measurement,
       keuangan diklasifikasikan dalam empat                          financial assets are classified in four
       kategori:                                                      categories:

       •   Aset keuangan pada biaya perolehan                         •   Financial assets at amortized cost (debt
           diamortisasi (instrumen utang),                                instruments),
       •   Aset keuangan pada NWPKL dengan                            •   Financial assets at FVOCI with recycling of
           reklasifikasi ke keuntungan dan kerugian                       cumulative gains and losses (debt
           kumulatif (instrumen utang),                                   instruments),
       •   Aset keuangan pada NWPKL tanpa                             •   Financial assets designated at FVOCI with
           reklasifikasi ke keuntungan dan kerugian                       no recycling of cumulative gains and
           kumulatif atas pelepasan (instrumen                            losses    upon     derecognition   (equity
           ekuitas), dan                                                  instruments), and
       •   NWLR.                                                      •   FVTPL.

       Pengukuran selanjutnya dari aset keuangan                      The subsequent measurement of financial
       tergantung kepada klasifikasi masing-masing                    assets depends on their classification as
       aset keuangan seperti berikut ini:                             described below:

       Aset keuangan pada biaya             perolehan                 Financial assets at amortized cost (debt
       diamortisasi (instrumen utang)                                 instruments)

       Grup mengukur aset keuangan pada biaya                         The Group measures financial assets at
       perolehan diamortisasi jika kedua kondisi                      amortized cost if both of the following
       berikut terpenuhi:                                             conditions are met:

       •   Aset keuangan dimiliki dalam model bisnis                  •   The financial asset is held within a
           dengan tujuan untuk memiliki aset                              business model with the objective to hold
           keuangan dalam rangka mendapatkan                              financial assets in order to collect
           arus kas kontraktual, dan                                      contractual cash flows, and
       •   Persyaratan     kontraktual  dari    aset                  •   The contractual terms of the financial asset
           keuangan menghasilkan arus kas pada                            give rise on specified dates to cash flows
           tanggal tertentu yang merupakan SPPB                           that are SPPI on the principal amount
           dari jumlah pokok terutang.                                    outstanding.

       Aset keuangan yang diukur pada biaya                           Financial assets at amortized cost are
       perolehan diamortisasi selanjutnya diukur                      subsequently measured using the effective
       dengan menggunakan metode suku bunga                           interest (EIR) method and are subject to
       efektif (SBE) dan menjadi subjek penurunan                     impairment. Gains and losses are recognized in
       nilai. Keuntungan dan kerugian diakui dalam                    profit or loss when the asset is derecognized,
       laba rugi pada saat aset dihentikan                            modified or impaired.
       pengakuannya, dimodifikasi atau diturunkan
       nilainya.

       Pada tanggal 31 Desember 2024 dan 2023,                        As of December 31, 2024 and 2023, the
       kategori ini meliputi kas dan setara kas, piutang              Group’s cash and cash equivalents, trade
       usaha, piutang lain-lain, dana yang dibatasi                   receivables, other receivables, restricted funds
       pencairannya dan aset tidak lancar lainnya.                    and other non-current assets are included in
                                                                      this category.

       Penghentian pengakuan                                          Derecognition

       Aset keuangan (atau, sesuai dengan                             A financial asset (or, where applicable, a part of
       kondisinya, bagian dari aset keuangan atau                     a financial asset or part of a group of similar
       bagian dari kelompok aset keuangan serupa)                     financial assets) is primarily derecognized (i.e.,
       terutama dihentikan pengakuannya (yaitu,                       removed from the Group’s consolidated
       dihapuskan dari laporan posisi keuangan                        statement of financial position) when:
       konsolidasian Grup) ketika:


                                                           - 31 -
Page 189
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


       •   Hak untuk menerima arus kas dari aset                     •   The rights to receive cash flows from the
           telah berakhir; atau                                          asset have expired; or
       •   Grup telah mengalihkan haknya untuk                       •   The Group has transferred its rights to
           menerima arus kas dari aset atau                              receive cash flows from the asset or has
           menanggung kewajiban untuk membayar                           assumed an obligation to pay the received
           arus kas yang diterima tersebut secara                        cash flows in full without material delay to
           penuh tanpa penundaan yang material                           a third party under a ‘pass-through’
           kepada      pihak     ketiga    berdasarkan                   arrangement; and either (a) the Group has
           kesepakatan ‘pass-through’, dan salah                         transferred substantially all the risks and
           satu dari (a) Grup telah mengalihkan                          rewards of the asset, or (b) the Group has
           secara substansial seluruh risiko dan                         neither     transferred     nor     retained
           manfaat atas aset, atau (b) Grup tidak                        substantially all the risks and rewards of
           mengalihkan maupun tidak memiliki secara                      the asset, but has transferred control of the
           substansial atas seluruh risiko dan manfaat                   asset.
           atas aset, tetapi telah mengalihkan kendali
           atas aset.

       Ketika Grup telah mengalihkan haknya untuk                    When the Group has transferred its rights to
       menerima arus kas dari suatu aset atau telah                  receive cash flows from an asset or has entered
       menandatangani kesepakatan ‘pass-through’,                    into a pass-through arrangement, it evaluates
       Grup mengevaluasi jika, dan sejauh mana,                      if, and to what extent, it has retained the risks
       Grup masih mempertahankan risiko dan                          and rewards of ownership. When it has neither
       manfaat atas kepemilikan aset. Ketika Grup                    transferred nor retained substantially all of the
       tidak mengalihkan maupun seluruh risiko dan                   risks and rewards of the asset, nor transferred
       manfaat atas aset dipertahankan secara                        control of the asset, the Group continues to
       substansial, maupun tidak mengalihkan kendali                 recognize the transferred asset to the extent of
       atas aset, Grup tetap mengakui aset yang                      its continuing involvement. In that case, the
       dialihkan        sebesar            keterlibatan              Group also recognizes an associated liability.
       berkelanjutannya. Dalam kasus tersebut, Grup                  The transferred asset and the associated
       juga mengakui liabilitas terkait. Aset yang                   liability are measured on a basis that reflects
       dialihkan dan liabilitas terkait diukur dengan                the rights and obligations that the Group has
       basis yang mencerminkan hak dan kewajiban                     retained.
       yang masih dipertahankan oleh Grup.

       Keterlibatan berkelanjutan dalam bentuk                       Continuing involvement that takes the form of a
       jaminan atas aset yang ditransfer, diukur pada                guarantee over the transferred asset is
       nilai yang lebih rendah antara jumlah tercatat                measured at the lower of the original carrying
       awal aset dan jumlah maksimum imbalan yang                    amount of the asset and the maximum amount
       dibutuhkan oleh Grup untuk membayar                           of consideration that the Group could be
       kembali.                                                      required to repay.

       Penurunan nilai                                               Impairment

       Grup mengakui penyisihan Kerugian Kredit                      The Group recognizes an allowance for
       Ekspetasian (KKE) untuk semua instrumen                       Expected Credit Loss (ECL) for all debt
       utang yang bukan diukur pada NWLR dan                         instruments not held at FVTPL and financial
       kontrak jaminan keuangan. KKE ditentukan                      guarantee contracts. ECLs are based on the
       atas perbedaan antara arus kas kontraktual                    difference between the contractual cash flows
       menurut kontrak dan semua arus kas yang                       due in accordance with the contract and all the
       diharapkan akan diterima oleh Grup, yang                      cash flows that the Group expects to receive,
       didiskontokan dengan perkiraan SBE orisinal.                  discounted at an approximation of the original
       Arus kas yang diharapkan mencakup setiap                      EIR. The expected cash flows include any cash
       arus kas dari penjualan agunan yang dimiliki                  flows from the sale of collateral held or other
       atau perbaikan kredit lainnya yang merupakan                  credit enhancements that are integral to the
       bagian yang tidak terpisahkan dalam ketentuan                 contractual terms.
       kontrak.




                                                          - 32 -
Page 190
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


       KKE diakui dalam dua tahap. Bila belum                        ECLs are recognized in two stages. When there
       terdapat peningkatan risiko kredit signifikan                 have not been significant increases in credit
       sejak pengakuan awal, KKE diakui untuk                        risks since initial recognition, ECLs are
       kerugian kredit yang dihasilkan dari peristiwa                provided for credit losses that result from
       gagal bayar yang mungkin terjadi dalam jangka                 default events that are possible within the next
       waktu 12 bulan ke depan (KKE 12 bulan).                       12-months (a 12-month ECL). But, when there
       Namun, bila telah terdapat peningkatan                        have been significant increases in credit risks
       signifikan risiko kredit sejak pengakuan awal,                since initial recognition, a loss allowance is
       penyisihan kerugian diakui untuk kerugian                     recognized for credit losses expected over the
       kredit yang diperkirakan selama sisa umur aset,               remaining life of the asset, irrespective of timing
       tanpa mempertimbangkan waktu gagal bayar                      of the default (a lifetime ECL).
       (KKE sepanjang umurnya).

       Karena aset kontrak, piutang usaha dan piutang                Because its contract assets, trade and other
       lain-lainnya    tidak    memiliki    komponen                 receivables do not contain significant financing
       pembiayaan signifikan, Grup menerapkan                        component, the Group applies a simplified
       pendekatan yang disederhanakan dalam                          approach in calculating ECL. Therefore, the
       perhitungan KKE. Oleh karena itu, Grup tidak                  Group does not track changes in credit risk, but
       menelurusi perubahan dalam risiko kredit,                     instead recognizes a loss allowance based on
       namun justru mengakui penyisihan kerugian                     lifetime ECL at each reporting date. The Group
       berdasarkan KKE sepanjang umurnya pada                        established a provision matrix that is based on
       setiap tanggal pelaporan. Grup membentuk                      its historical credit loss experience, adjusted for
       matriks provisi berdasarkan pengalaman                        forward-looking factors specific to the debtors
       kerugian kredit masa lampau, disesuaikan                      and the economic environment.
       dengan perkiraan masa depan (forward-
       looking) atas faktor yang spesifik untuk debitur
       dan lingkungan ekonomi.

       Liabilitas Keuangan                                           Financial Liabilities

       Pengakuan dan pengukuran awal                                 Initial recognition and measurement

       Liabilitas keuangan diklasifikasikan, pada                    Financial liabilities are classified, at initial
       pengakuan awal, sebagai liabilitas keuangan                   recognition, as financial liabilities at FVTPL,
       yang diukur pada NWLR, utang dan pinjaman                     loans and borrowings, or as derivatives
       atau derivatif ditetapkan sebagai instrumen                   designated as hedging instruments in an
       lindung nilai pada lindung nilai yang efektif,                effective hedge, as appropriate.
       sesuai dengan kondisinya.

       Semua liabilitas keuangan diakui pada nilai                   All financial liabilities are recognized initially at
       wajar saat pengakuan awal dan, dalam hal                      fair value and, in the case of financial liabilities
       liabilitas keuangan dilklasifikasi sebagai utang              classified as loans and borrowings, recognized
       dan pinjaman, diakui pada nilai wajar setelah                 at fair value netted off directly to attributable
       dikurangi biaya transaksi yang dapat                          transaction costs.
       diatribusikan secara langsung.

       Pada tanggal 31 Desember 2024 dan 2023,                       As of December 31, 2024 and 2023, the Group
       Grup menetapkan liabilitas keuangan meliputi                  designates its financial liabilities as bank loans,
       utang bank, utang usaha, utang lain-lain, beban               trade payables, other payables, accrued
       akrual dan utang sewa.                                        expenses and lease liabilities.

       Pengukuran selanjutnya                                        Subsequent measurement

       Pengukuran       selanjutnya dari liabilitas                  The subsequent measurement of financial
       keuangan ditentukan oleh klasifikasinya                       liabilities depends on their classification as
       sebagai berikut:                                              described below:

       Liabilitas keuangan pada biaya perolehan                      Financial liabilities at amortized cost (Loans
       diamortisasi (Utang dan pinjaman)                             and borrowings)




                                                          - 33 -
Page 191
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       i)    Utang dan Pinjaman Jangka Panjang yang                    i)    Long-term Interest-bearing Loans and
             Dikenakan Bunga                                                 Borrowings

             Setelah pengakuan awal, utang dan                               Subsequent to initial recognition, long-
             pinjaman jangka panjang yang berbunga                           term     interest-bearing     loans       and
             diukur pada biaya perolehan yang                                borrowings are measured at amortized
             diamortisasi   dengan     menggunakan                           acquisition costs using EIR method. At the
             metode SBE. Pada tanggal pelaporan,                             reporting date, accrued interest is
             biaya bunga yang masih harus dibayar                            recorded separately from the associated
             dicatat secara terpisah, dari pokok                             borrowings within the current liabilities
             pinjaman terkait, dalam bagian liabilitas                       section. Gains and losses are recognized
             jangka pendek. Keuntungan dan kerugian                          in the profit or loss when the liabilities are
             diakui pada laba rugi ketika liabilitas                         derecognized as well as through the EIR
             dihentikan pengakuannya maupun melalui                          amortization process.
             proses amortisasi menggunakan metode
             SBE.

             Biaya     amortisasi   dihitung  dengan                         Amortized cost is calculated by taking into
             mempertimbangkan setiap diskonto atau                           account any discount or premium on
             premium atas akusisi dan komisi atau                            acquisition and fee or costs that are an
             biaya yang merupakan bagian tidak                               integral part of the EIR. The EIR
             terpisahkan dari SBE. Amortisasi SBE                            amortization is included in finance costs in
             dicatat sebagai beban keuangan pada laba                        the profit or loss.
             rugi.

       ii)   Utang dan Akrual                                          ii)   Payables and Accruals

             Liabilitas untuk utang usaha dan utang lain-                    Liabilities for current trade and other
             lain jangka pendek, beban akrual dan                            accounts payable, accrued expenses and
             liabilitas imbalan kerja jangka pendek                          short-term employee benefits liability are
             dinyatakan sebesar jumlah tercatat (jumlah                      stated at carrying amounts (notional
             nosional), yang kurang lebih sebesar nilai                      amounts), which approximate their fair
             wajarnya.                                                       values.

       Penghentian pengakuan                                           Derecognition

       Suatu     liabilitas  keuangan dihentikan                       A financial liability is derecognized when the
       pengakuannya pada saat kewajiban yang                           obligation under the contract is discharged or
       ditetapkan dalam kontrak berakhir atau                          cancelled or expired.
       dibatalkan atau kedaluwarsa.

       Ketika sebuah liabilitas keuangan ditukar                       When an existing financial liability is replaced
       dengan liabilitas keuangan lain dari pemberi                    by another from the same lender on
       pinjaman yang sama atas persyaratan yang                        substantially different terms, or the terms of an
       secara substansial berbeda, atau bila                           existing liability are substantially modified, such
       persyaratan dari liabilitas keuangan tersebut                   an exchange or modification is treated as
       secara substansial dimodifikasi, pertukaran                     derecognition of the original liability and
       atau modifikasi persyaratan tersebut dicatat                    recognition of a new liability, and the difference
       sebagai penghentian pengakuan liabilitas                        in the respective carrying amounts is
       keuangan orisinal dan pengakuan liabilitas                      recognized in the profit or loss.
       keuangan baru, dan selisih antara nilai tercatat
       masing-masing liabilitas keuangan tersebut
       diakui pada laba rugi.




                                                            - 34 -
Page 192
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


        Saling Hapus Instrumen Keuangan                                   Offsetting of Financial Instruments

        Aset keuangan dan liabilitas keuangan disaling                    Financial assets and financial liabilities are
        hapuskan dan nilai bersihnya disajikan dalam                      offset, and the net amount reported in the
        laporan posisi keuangan konsolidasian jika, dan                   consolidated statement of financial position if,
        hanya jika, terdapat hak secara hukum untuk                       and only if, there is a currently enforceable legal
        melakukan saling hapus atas jumlah tercatat                       right to offset the recognized amounts and
        dari aset keuangan dan liabilitas keuangan                        there is an intention to settle on a net basis, or
        tersebut      dan    terdapat  intensi    untuk                   to realize the assets and settle the liabilities
        menyelesaikan secara neto, atau untuk                             simultaneously.
        merealisasikan aset dan menyelesaikan
        liabilitas secara bersamaan.

   h.   Transaksi dengan Pihak Berelasi                            h.     Transactions with Related Parties

        Perusahaan dan entitas anaknya melakukan                          The Company and subsidiaries have
        transaksi dengan pihak berelasi sesuai dengan                     transactions with related parties as defined in
        definisi yang diuraikan pada PSAK No. 224.                        PSAK No. 224.

        Transaksi     ini   dilakukan   berdasarkan                       The transactions are made based on terms
        persyaratan yang disetujui oleh kedua belah                       agreed by the parties, which may not be the
        pihak, yang mungkin tidak sama dengan                             same as those made with unrelated parties.
        transaksi lain yang dilakukan dengan pihak-
        pihak yang tidak berelasi.

        Transaksi dan saldo yang material dengan                          Significant transactions and balances with
        pihak berelasi diungkapkan dalam Catatan 35.                      related parties are disclosed in Note 35.

        Kecuali diungkapkan khusus sebagai pihak                          Unless specifically identified as related parties,
        berelasi, maka pihak-pihak lain yang                              the parties disclosed in the Notes to the
        disebutkan dalam Catatan atas laporan                             consolidated financial statements are unrelated
        keuangan konsolidasian merupakan pihak tidak                      parties.
        berelasi.

   i.   Dana yang Dibatasi Pencairannya                            i.     Restricted Funds

        Deposito berjangka yang jatuh temponya                            Time deposits with maturities of 3 months or
        kurang dari 3 bulan pada saat penempatan                          less at the time of placements which are used
        namun dijaminkan atau dibatasi pencairannya,                      as collateral or are restricted funds, and time
        dan deposito berjangka yang jatuh temponya                        deposits with maturities of more than 3 months
        lebih dari 3 bulan pada saat penempatan                           at the time of placements are presented as
        disajikan sebagai dana yang dibatasi                              restricted funds in the consolidated statement
        pencairannya dalam laporan posisi keuangan                        of financial position.
        konsolidasian.

   j.   Persediaan                                                 j.     Inventories

        Persediaan dinyatakan sebesar nilai yang lebih                    Inventories are valued at the lower of cost or
        rendah antara biaya perolehan atau nilai                          net realizable value. Cost is calculated using
        realisasi bersih. Biaya perolehan ditentukan                      weighted-average method. Net realizable value
        dengan menggunakan metode rata-rata                               is the estimated selling price in the ordinary
        tertimbang. Nilai realisasi bersih persediaan                     course of business, less estimated costs of
        adalah estimasi harga jual dalam kegiatan                         completion and the estimated costs necessary
        usaha biasa dikurangi estimasi biaya                              to make the sale.
        penyelesaian dan estimasi biaya yang
        diperlukan untuk membuat penjualan.




                                                          - 35 -
Page 193
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


   k.   Biaya Dibayar Dimuka                                       k.     Prepaid Expenses

        Biaya dibayar di muka diamortisasi dan                            Prepaid expenses are amortized and charged
        dibebankan pada operasi selama masa                               to operations over the periods benefited, and
        manfaatnya, dan disajikan sebagai aset lancar                     are presented as current asset or non-current
        atau aset tidak lancar sesuai sifatnya masing-                    asset based on their nature.
        masing.

   l.   Biaya Tangguhan                                            l.     Deferred Charges

        Biaya-biaya tertentu, yang mempunyai masa                         Certain expenditures, which benefits extend
        manfaat lebih dari satu tahun, sehubungan                         over a period of more than one year, relating to
        dengan beban perolehan hak atas tanah yang                        deferred land right acquisition costs that do not
        ditangguhkan dan tidak memenuhi syarat untuk                      fulfil the criteria to be recognized as fixed
        dicatat sebagai aset tetap, ditangguhkan dan                      assets, are deferred and amortized over the
        diamortisasi selama masa manfaatnya dengan                        periods benefited using the straight-line
        menggunakan metode garis lurus. Beban-                            method. These expenditures are presented as
        beban ini disajikan sebagai bagian dari akun                      part of “Other Non-current Assets” account in
        “Aset Tidak Lancar Lainnya” pada laporan                          the consolidated statement of financial position.
        posisi keuangan konsolidasian.

   m. Kombinasi Bisnis dan Goodwill                                m. Business Combinations and Goodwill

        Kombinasi bisnis dicatat dengan menggunakan                       Business combinations are accounted for using
        metode akuisisi. Biaya perolehan dari sebuah                      the acquisition method. The cost of an
        akuisisi diukur pada nilai agregat imbalan yang                   acquisition is measured as the aggregate of the
        dialihkan, diukur pada nilai wajar pada tanggal                   consideration transferred, measured at
        akuisisi dan jumlah setiap KNP pada pihak yang                    acquisition date fair value, and the amount of
        diakuisisi. Untuk setiap kombinasi bisnis, Grup                   any NCI in the acquiree. For each business
        memilih apakah mengukur KNP pada entitas                          combination, the Group elects whether it
        yang diakuisisi baik pada nilai wajar ataupun                     measures the NCI in the acquiree either at fair
        pada proporsi kepemilikan KNP atas aset                           value or at the proportionate share of the
        bersih yang teridentifikasi dari entitas yang                     acquiree’s identifiable net assets. Acquisition
        diakuisisi. Biaya-biaya akuisisi yang timbul                      costs incurred are directly expensed and
        dibebankan langsung dan disertakan dalam                          included in administrative expenses.
        beban administrasi.

        Grup menentukan bahwa mereka telah                                The Group determines that it has acquired a
        mengakuisisi bisnis ketika rangkaian aktivitas                    business when the acquired set of activities and
        dan aset yang diakuisisi mencakup input dan                       assets include an input and a substantive
        proses substantif yang bersama-sama secara                        process that together significantly contribute to
        signifikan berkontribusi pada kemampuan                           the ability to create outputs. The acquired
        untuk menghasilkan output. Proses yang                            process is considered substantive if it is critical
        diperoleh adalah substantif jika penting bagi                     to the ability to continue producing outputs, and
        kemampuan untuk terus menghasilkan output,                        the inputs acquired include an organized
        dan input yang diperoleh mencakup tenaga                          workforce with the necessary skills, knowledge,
        kerja yang terorganisir dengan keterampilan,                      or experience to perform that process or it
        pengetahuan,       atau  pengalaman       yang                    significantly contributes to the ability to continue
        diperlukan untuk melakukan proses itu atau                        producing outputs and is considered unique or
        secara     signifikan   berkontribusi     pada                    scarce or cannot be replaced without significant
        kemampuan untuk terus menghasilkan output                         cost, effort, or delay in the ability to continue
        dan dianggap unik atau langka atau tidak dapat                    producing outputs.
        diganti tanpa biaya, usaha, atau penundaan
        yang signifikan dalam kemampuan untuk terus
        menghasilkan output.




                                                          - 36 -
Page 194
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


       Ketika melakukan akuisisi atas sebuah bisnis,                    When the Group acquires a business, it
       Grup mengklasifikasikan dan menentukan aset                      assesses the financial assets acquired and
       keuangan yang diperoleh dan liabilitas                           liabilities assumed for appropriate classification
       keuangan yang diambil alih berdasarkan pada                      and designation in accordance with the
       persyaratan kontraktual, kondisi ekonomi dan                     contractual terms, economic circumstances
       kondisi terkait lain yang ada pada tanggal                       and pertinent conditions as at the acquisition
       akuisisi.                                                        date.

       Dalam suatu kombinasi bisnis yang dilakukan                      If the business combination is achieved in
       secara bertahap, Grup mengukur kembali                           stages, the acquisition date fair value of the
       kepentingan ekuitas yang dimiliki sebelumnya                     Group’s previously held equity interest in the
       pada pihak yang diakuisisi pada nilai wajar                      acquiree is remeasured to fair value at the
       tanggal akuisisi dan mengakui keuntungan atau                    acquisition date through profit or loss.
       kerugian yang dihasilkan.

       Setiap imbalan kontinjensi yang akan ditransfer                  Any contingent consideration to be transferred
       oleh perusahaan pengakuisisi akan diakui pada                    by the acquirer will be recognized at fair value
       nilai wajar pada tanggal akuisisi. Imbalan                       at    the    acquisition      date.    Contingent
       kontinjensi yang diklasifikasikan sebagai                        consideration classified as equity is not
       ekuitas tidak diukur kembali dan penyelesaian                    remeasured and its subsequent settlement is
       selanjutnya adalah diperhitungkan dalam                          accounted for within equity. Contingent
       ekuitas.      Imbalan      kontinjensi        yang               consideration classified as an asset or liability
       diklasifikasikan sebagai aset atau liabilitas yaitu              that is a financial instrument and within the
       instrumen keuangan dan dalam lingkup PSAK                        scope of PSAK No. 109, is measured at fair
       No. 109, diukur pada nilai wajar dengan                          value with the changes in fair value recognized
       perubahan nilai wajar yang diakui dalam laba                     in the statement of profit or loss in accordance
       rugi sesuai dengan PSAK No. 109. Imbalan                         with PSAK No. 109. Other contingent
       kontinjensi lain yang tidak termasuk dalam                       consideration that is not within the scope of
       PSAK No. 109 diukur sebesar nilai wajar pada                     PSAK No. 109 is measured at fair value at each
       setiap tanggal pelaporan dengan perubahan                        reporting date with changes in fair value
       nilai wajar yang diakui pada laba rugi.                          recognized in profit or loss.

       Bila pencatatan awal kombinasi bisnis belum                      If the initial accounting for a business
       dapat diselesaikan pada tanggal pelaporan,                       combination is incomplete by the end of the
       Grup melaporkan jumlah sementara bagi pos                        reporting date, the Group reports provisional
       yang pencatatannya belum dapat diselesaikan                      amounts for the items for which the accounting
       tersebut.                                                        is incomplete.

       Periode pengukuran adalah periode setelah                        The measurement period is the period after the
       tanggal akuisisi yang didalamnya Grup dapat                      acquisition date during which the Group may
       melakukan        penyesuaian      atas     jumlah                adjust the provisional amounts recognized for a
       sementara yang diakui dalam kombinasi bisnis                     business       combination.          During     the
       tersebut. Selama periode pengukuran, Grup                        measurement period, the Group recognizes
       mengakui penambahan aset atau liabilitas bila                    additional assets or liabilities if new information
       terdapat informasi terbaru yang diperoleh                        is obtained about facts and circumstances that
       mengenai fakta dan keadaan pada tanggal                          existed as of the acquisition date and, if known,
       akuisisi, yang bila diketahui pada saat itu, akan                would have resulted in the recognition of those
       menyebabkan pengakuan atas aset dan                              assets and liabilities as of that date.
       liabilitas pada tanggal tersebut.

       Periode pengukuran berakhir pada saat                            The measurement period ends as soon as the
       pengakuisisi      menerima     informasi    yang                 acquirer receives the information it was seeking
       diperlukan mengenai fakta dan keadaan pada                       about facts and circumstances that existed as
       tanggal akuisisi atau mengetahui bahwa                           of the acquisition date or learns that more
       informasi lainnya tidak dapat diperoleh, namun                   information is not obtainable but shall not
       tidak lebih dari satu tahun dari tanggal akuisisi.               exceed one year from the acquisition date.




                                                             - 37 -
Page 195
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


       Pada tanggal akuisisi, goodwill awalnya diukur                   At acquisition date, goodwill is initially
       pada harga perolehan yang merupakan selisih                      measured at cost being the excess of the
       lebih nilai agregat dari imbalan yang dialihkan                  aggregate of the consideration transferred and
       dan jumlah setiap KNP atas selisih jumlah dari                   the amount recognized for NCI over the net
       aset teridentifikasi yang diperoleh dan liabilitas               identifiable assets acquired and liabilities
       yang diambil alih.                                               assumed.

       Jika imbalan tersebut lebih rendah dari nilai                    If this consideration is lower than the fair value
       wajar aset bersih entitas anak yang diakuisisi,                  of the net assets of the subsidiary acquired, the
       selisih tersebut diakui pada laba rugi sebagai                   difference is recognized in profit or loss as gain
       keuntungan dari pembelian dengan diskon                          on bargain purchase after previously assessing
       setelah sebelumnya manajemen melakukan                           the identification and fair value measurement of
       penilaian atas identifikasi dan nilai wajar dari                 the acquired assets and the assumed liabilities.
       aset yang diperoleh dan liabilitas yang diambil
       alih.

       Setelah pengakuan awal, goodwill diukur pada                     After initial recognition, goodwill is measured at
       jumlah tercatat dikurangi akumulasi kerugian                     cost less any accumulated impairment losses.
       penurunan nilai. Untuk tujuan pengujian                          For the purpose of impairment testing, goodwill
       penurunan nilai, goodwill yang diperoleh dari                    acquired in a business combination is, from the
       suatu kombinasi bisnis, sejak tanggal akuisisi                   acquisition date, allocated to each of the
       dialokasikan kepada setiap Unit Penghasil Kas                    Group’s Cash Generating Units (CGU) that are
       (UPK) dari Grup yang diharapkan akan                             expected to benefit from the combination,
       bermanfaat dari sinergi kombinasi tersebut,                      irrespective of whether other assets or liabilities
       terlepas dari apakah aset atau liabilitas lain dari              of the acquiree are assigned to those CGUs.
       pihak yang diakuisisi ditetapkan atas UPK
       tersebut.

       Jika goodwill telah dialokasikan pada suatu                      Where goodwill forms part of a CGU and part of
       UPK dan operasi tertentu atas UPK tersebut                       the operations within that CGU is disposed of,
       dihentikan, maka goodwill yang diasosiasikan                     the goodwill associated with the operation
       dengan operasi yang dihentikan tersebut                          disposed of is included in the carrying amount
       termasuk dalam jumlah tercatat operasi                           of the operation when determining the gain or
       tersebut ketika menentukan keuntungan atau                       loss on disposal of the operation. Goodwill
       kerugian dari pelepasan. Goodwill yang                           disposed of in this circumstance is measured
       dilepaskan tersebut diukur berdasarkan nilai                     based on the relative values of the operation
       relatif operasi yang dihentikan terhadap bagian                  disposed of and the portion of the CGU
       dari UPK yang ditahan.                                           retained.

       Kombinasi bisnis entitas sepengendali                            Business combinations under common control

       Kombinasi bisnis entitas sepengendali dicatat                    Business combinations under common control
       dengan menggunakan metode penyatuan                              are accounted for using the pooling-of-interests
       kepentingan, dimana selisih antara jumlah                        method, whereby the difference between the
       imbalan yang dialihkan dengan jumlah tercatat                    considerations transferred and the book value
       aset bersih entitas yang diakuisisi diakui                       of the net assets of the acquiree is recognized
       sebagai bagian dari akun "Tambahan Modal                         as part of "Additional Paid-in Capital" account
       Disetor" pada laporan posisi keuangan                            in the consolidated statement of financial
       konsolidasian.                                                   position.

       Dalam menerapkan metode penyatuan                                In applying the said pooling-of-interest method,
       kepentingan tersebut, unsur-unsur laporan                        the components of the financial statements of
       keuangan dari entitas yang bergabung                             the combining entities are presented as if the
       disajikan seolah-olah penggabungan tersebut                      combination has occurred since the beginning
       telah terjadi sejak awal periode entitas yang                    of the period of the combining entity become
       bergabung berada dalam kesepengendalian.                         under common control.




                                                             - 38 -
Page 196
PT GOLDEN ENERGY MINES Tbk                                                               PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                  AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                  As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                         (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                         unless Otherwise Stated)


   n.   Aset Tetap                                                     n.     Property and Equipment

        Seluruh aset tetap awalnya diakui sebesar                             All property and equipment are initially
        biaya perolehan, yang terdiri atas harga                              recognized at cost, which comprises the
        perolehan dan biaya-biaya tambahan yang                               purchase price and any costs directly
        dapat diatribusikan langsung untuk membawa                            attributable in bringing the assets to the location
        aset ke lokasi dan kondisi yang diinginkan                            and condition necessary for the assets to be
        supaya aset tersebut siap digunakan sesuai                            capable of operating in the manner intended by
        dengan maksud manajemen.                                              management.

        Setelah pengakuan awal, aset tetap dinyatakan                         Subsequent to initial recognition, property and
        pada biaya perolehan dikurangi akumulasi                              equipment are carried at cost less any
        penyusutan dan akumulasi rugi penurunan                               subsequent accumulated depreciation and
        nilai.                                                                impairment losses.

        Penyusutan dimulai pada saat aset tersebut                            Depreciation starts when the assets are
        siap untuk digunakan sesuai maksud                                    available for use and is computed using the
        penggunaannya     dan   dihitung   dengan                             straight-line method based on the estimated
        menggunakan metode garis lurus berdasarkan                            useful lives of the assets as follows:
        estimasi umur manfaat ekonomis sebagai
        berikut:

                                                            Tahun/Years
        Bangunan                                                   5 - 20            Buildings
        Infrastruktur                                                10              Infrastructure
        Mesin dan alat berat                                       4 - 16            Machinery and heavy equipment
        Transportasi dan peralatan lainnya                          4-8              Transportation and other equipment
        Perabotan dan perlengkapan kantor                           4-8              Office furniture and fixtures
        Prasarana                                                    3               Leasehold improvements

        Jumlah tercatat aset ini direviu atas penurunan                       The carrying amounts of these assets are
        nilai jika terdapat peristiwa atau perubahan                          reviewed for impairment when events or
        keadaan yang mengindikasikan bahwa jumlah                             changes in circumstances indicate that their
        tercatat mungkin tidak dapat seluruhnya                               carrying values may not be fully recoverable.
        terealisasi.

        Jumlah tercatat komponen dari suatu aset                              The carrying amount of an item of these assets
        dihentikan pengakuannya pada saat dilepaskan                          is derecognized upon disposal or when no
        atau saat sudah tidak ada lagi manfaat ekonomi                        future economic benefits are expected from its
        masa depan yang diharapkan dari penggunaan                            use or disposal. Any gain or loss arising from
        maupun pelepasannya. Keuntungan atau                                  the derecognition of the asset (calculated as
        kerugian yang timbul dari penghentian                                 the difference between the net disposal
        pengakuan tersebut (ditentukan sebesar selisih                        proceeds and the carrying amount of the asset)
        antara jumlah hasil pelepasan bersih dan                              is directly included in the profit or loss of year
        jumlah tercatatnya) dimasukkan ke dalam laba                          the item is derecognized.
        rugi pada tahun penghentian pengakuan
        tersebut dilakukan.

        Nilai residu aset, umur manfaat dan metode                            The asset residual values, useful lives and
        penyusutan dievaluasi setiap akhir tahun                              depreciation method are reviewed at the end of
        pelaporan dan disesuaikan secara prospektif                           each reporting year and adjusted prospectively
        jika dipandang perlu.                                                 if necessary.




                                                          - 39 -
Page 197
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


        Aset tetap dalam penyelesaian dicatat sebesar                    Constructions in-progress are stated at cost,
        biaya perolehan, yang mencakup kapitalisasi                      including capitalized borrowing costs and other
        beban pinjaman dan biaya-biaya lainnya yang                      charges incurred in connection with the
        terjadi sehubungan dengan pendanaan aset                         financing of the said asset constructions. The
        tetap dalam penyelesaian tersebut. Akumulasi                     accumulated costs will be reclassified to the
        biaya perolehan akan direklasifikasi ke akun                     appropriate “Property and Equipment” account
        “Aset Tetap” yang bersangkutan pada saat aset                    when the construction is completed. Assets
        tetap tersebut telah selesai dikerjakan dan siap                 under construction are not depreciated until
        untuk     digunakan.     Aset     tetap   dalam                  they fulfill criteria for recognition as property
        penyelesaian      tidak   disusutkan     sampai                  and equipment as disclosed above.
        memenuhi syarat pengakuan sebagai aset
        tetap seperti diungkapkan di atas.

        Beban       pemeliharaan    dan     perbaikan                    Repairs and maintenance expenses are taken
        dibebankan pada laba rugi pada saat                              to the profit or loss when they are incurred. The
        terjadinya.    Beban      pemugaran        dan                   cost of major renovation and restoration is
        penambahan dalam jumlah besar dikapitalisasi                     included in the carrying amount of the related
        kepada jumlah tercatat aset terkait bila besar                   asset when it is probable that future economic
        kemungkinan bagi Grup manfaat ekonomi                            benefits in excess of the originally assessed
        masa depan menjadi lebih besar dari standar                      standard of performance of the existing asset
        kinerja awal yang ditetapkan sebelumnya dan                      will flow to the Group and is depreciated over
        disusutkan sepanjang sisa masa manfaat aset                      the remaining useful life of the related asset.
        terkait.

        Tanah termasuk biaya pengurusan legal hak                        Land including legal cost of land rights in the
        atas tanah dalam bentuk Hak Guna Usaha                           form of Right to Cultivate (Hak Guna Usaha or
        (HGU), Hak Guna Bangunan (HGB) dan Hak                           HGU), Right to Build (Hak Guna Bangunan or
        Pakai (HP) ketika tanah diperoleh pertama kali                   HGB) and Right to Use (Hak Pakai or HP) when
        dinyatakan sebesar biaya perolehan dan tidak                     the land rights were acquired initalliy are stated
        diamortisasi karena manajemen berpendapat                        at cost and not amortized as the management’s
        bahwa kemungkinan besar hak atas tanah                           opinion that it is probable the titles of land rights
        tersebut dapat diperbaharui/ diperpanjang pada                   can be renewed/extended upon expiration.
        saat masa berlakunya selesai.

        Biaya pengurusan atas perpanjangan atau                          The extension or the legal renewal costs of land
        pembaruan legal hak atas tanah dalam bentuk                      rights in the form of HGU, HGB and HP are
        HGU, HGB dan HP ditangguhkan dan                                 deferred and amortized over the shorter
        diamortisasi yang lebih pendek antara umur                       between the land rights' legal life and the
        hukum hak atas tanah dan umur ekonomi                            economic life of the land, and presented as part
        tanah, dan disajikan sebagai bagian dari akun                    of “Other Non-current Assets” account in the
        “Aset Tidak Lancar Lainnya” pada laporan                         consolidated statement of financial position.
        posisi keuangan konsolidasian.

   o.   Aset Tidak Berwujud                                         o.   Intangible Assets

        Aset tidak berwujud yang diperoleh secara                        Intangible assets acquired separately are
        terpisah diukur pada pengakuan awal sebesar                      measured on initial recognition at cost. The cost
        biaya perolehan. Biaya perolehan aset tidak                      of intangible assets acquired in a business
        berwujud yang diperoleh dalam kombinasi                          combination is their fair value at the date of
        bisnis adalah nilai wajarnya pada tanggal                        acquisition. Following initial recognition,
        akuisisi. Setelah pengakuan awal, aset tidak                     intangible assets are carried at cost less any
        berwujud dicatat sebesar biaya perolehan                         accumulated amortisation and accumulated
        dikurangi akumulasi amortisasi dan akumulasi                     impairment losses. Internally generated
        kerugian penurunan nilai. Aset tak berwujud                      intangibles, excluding capitalized development
        yang dihasilkan secara internal, tidak termasuk                  costs, are not capitalized and the related
        biaya pengembangan yang dikapitalisasi, tidak                    expenditure is reflected in profit or loss in the
        dikapitalisasi dan pengeluaran terkait tercermin                 period in which the expenditure is incurred.
        dalam laba rugi pada periode pengeluaran
        tersebut terjadi.




                                                           - 40 -
Page 198
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


        Masa manfaat aset tidak berwujud dinilai                         The useful lives of intangible assets are
        sebagai terbatas atau tidak terbatas.                            assessed as either finite or indefinite.

        Aset tidak berwujud dengan umur yang terbatas                    Intangible assets with finite lives are amortized
        diamortisasi selama masa manfaat ekonomi                         over the useful economic life and assessed for
        dan dinilai penurunan nilainya setiap kali                       impairment whenever there is an indication that
        terdapat indikasi bahwa aset tidak berwujud                      the intangible asset may be impaired. The
        mungkin mengalami penurunan nilai. Periode                       amortisation period and the amortisation
        amortisasi dan metode amortisasi untuk aset                      method for an intangible asset with a finite
        tidak berwujud dengan masa manfaat terbatas                      useful life are reviewed at least at the end of
        ditelaah setidaknya pada setiap akhir periode                    each reporting period. Changes in the expected
        pelaporan. Perubahan masa manfaat yang                           useful life or the expected pattern of
        diharapkan atau pola konsumsi yang                               consumption of future economic benefits
        diharapkan dari manfaat ekonomi masa depan                       embodied in the asset are considered to modify
        yang terkandung dalam aset dianggap                              the amortisation period or method, as
        memodifikasi periode atau metode amortisasi,                     appropriate, and are treated as changes in
        jika sesuai, dan diperlakukan sebagai                            accounting estimates. The amortisation
        perubahan      estimasi   akuntansi.   Beban                     expense on intangible assets with finite lives is
        amortisasi atas aset takberwujud dengan umur                     recognized in the consolidated statement of
        terbatas diakui dalam laporan laba rugi                          profit or loss in the expense category that is
        konsolidasian dalam kategori beban yang                          consistent with the function of the intangible
        sesuai dengan fungsi aset takberwujud                            assets.
        tersebut.

        Aset takberwujud dengan masa manfaat tidak                       Intangible assets with indefinite useful lives are
        terbatas tidak diamortisasi, tetapi diuji                        not amortized, but are tested for impairment
        penurunan nilainya setiap tahun, baik secara                     annually, either individually or at the cash-
        individual maupun pada tingkat unit penghasil                    generating unit level. The assessment of
        kas. Penilaian kehidupan tidak terbatas ditinjau                 indefinite life is reviewed annually to determine
        setiap tahun untuk menentukan apakah                             whether the indefinite life continues to be
        kehidupan tidak terbatas terus dapat didukung.                   supportable. If not, the change in useful life
        Jika tidak, perubahan masa manfaat dari tidak                    from indefinite to finite is made on a prospective
        terbatas menjadi terbatas dilakukan secara                       basis.
        prospektif.

        Aset tidak berwujud dihentikan pengakuannya                      An intangible asset is derecognized upon
        pada saat pelepasan (yaitu, pada tanggal                         disposal (i.e., at the date the recipient obtains
        penerima memperoleh kendali) atau ketika                         control) or when no future economic benefits
        tidak ada manfaat ekonomi masa depan yang                        are expected from its use or disposal. Any gain
        diharapkan     dari     penggunaan     atau                      or loss arising upon derecognition of the asset
        pelepasannya. Keuntungan atau kerugian yang                      (calculated as the difference between the net
        timbul dari penghentian pengakuan aset                           disposal proceeds and the carrying amount of
        (dihitung sebagai perbedaan antara hasil                         the asset) is included in the consolidated
        pelepasan bersih dan jumlah tercatat aset)                       statement of profit or loss.
        dimasukkan dalam laporan laba rugi
        konsolidasian.

        Masa manfaat aset tidak berwujud dinilai                         The useful lives of intangible assets are
        sebagai terbatas atau tidak terbatas.                            assessed as either finite or indefinite.

   p.   Aset Pertambangan                                           p.   Mine Properties

        Pengeluaran sebelum perolehan izin                               Pre-license costs

        Pengeluaran      yang  dilakukan   sebelum                       Pre-license costs are expensed in the period in
        perolehan izin penambangan dibebankan pada                       which they are incurred.
        saat terjadinya.




                                                           - 41 -
Page 199
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       Pengeluaran untuk eksplorasi dan evaluasi                       Exploration and evaluation expenditures

       Pengeluaran untuk eksplorasi dan evaluasi                       Exploration and evaluation expenditures are
       dikapitalisasi dan diakui sebagai “aset                         capitalized and recognized as “exploration and
       eksplorasi dan evaluasi” untuk setiap daerah                    evaluation assets” for each area of interest
       pengembangan (area of interest) apabila izin                    when mining rights are obtained and still valid
       pertambangan telah diperoleh dan masih                          and: (i) the costs are expected to be recouped
       berlaku dan: (i) biaya tersebut diharapkan dapat                through      successful     development         and
       diperoleh kembali melalui keberhasilan                          exploitation of the area of interest; or (ii) where
       pengembangan dan eksploitasi daerah                             activities in the area of interest have not
       pengembangan; atau (ii) apabila kegiatan                        reached the stage that allow a reasonable
       tersebut belum mencapai tahap yang                              assessment of the existence of economically
       memungkinkan untuk menentukan adanya                            recoverable reserves, and active and
       cadangan terbukti yang secara ekonomis dapat                    significant operations in, or in relation to, the
       diperoleh, serta kegiatan yang aktif dan                        area of interest are continuing. These
       signifikan, dalam daerah pengembangan (area                     expenditures include materials and fuel used,
       of interest) terkait masih berlangsung.                         surveying costs, drilling and stripping costs
       Pengeluaran ini meliputi penggunaan bahan                       before the commencement of production stage
       pembantu dan bahan bakar, biaya survei, biaya                   and payments made to contractors.
       pengeboran dan pengupasan tanah sebelum
       dimulainya tahap produksi dan pembayaran
       kepada kontraktor.

       Setelah pengakuan awal, aset eksplorasi dan                     Exploration and evaluation assets are
       evaluasi dicatat menggunakan model biaya dan                    subsequently measured using cost model and
       diklasifikasikan sebagai aset berwujud, kecuali                 classified as tangible assets, unless they are
       memenuhi syarat untuk diakui sebagai aset                       qualified to be recognized as intangible assets.
       takberwujud.

       Pemulihan aset eksplorasi dan evaluasi                          The ultimate recoupment of deferred
       tergantung pada keberhasilan pengembangan                       exploration and evaluation expenditure is
       dan       eksploitasi   komersial      daerah                   dependent upon successful development and
       pengembangan (area of interest) tersebut. Aset                  commercial exploitation of the related area of
       eksplorasi dan evaluasi diuji untuk penurunan                   interest. Exploration and evaluation assets
       nilai bila fakta dan kondisi mengindikasikan                    shall be assessed for impairment when facts
       bahwa jumlah tercatatnya mungkin melebihi                       and circumstances suggest that the carrying
       jumlah terpulihkannya. Dalam keadaan                            amount of an exploration and evaluation asset
       tersebut, maka entitas harus mengukur,                          may exceed its recoverable amount. In such a
       menyajikan      dan   mengungkapkan        rugi                 case, an entity shall measure, present and
       penurunan nilai terkait sesuai dengan                           disclose any resulting impairment loss in
       PSAK No. 236, “Penurunan Nilai Aset”.                           accordance with PSAK No. 236, “Impairment of
                                                                       Assets”.

       Aset eksplorasi dan evaluasi ditransfer ke                      Exploration and evaluation assets are
       “Tambang dalam pengembangan” pada akun                          transferred to “Mines under construction” in the
       “Aset pertambangan” setelah ditetapkan bahwa                    “Mine properties” account after the mines are
       tambang memiliki nilai ekonomis untuk                           determined to be economically viable to be
       dikembangkan.                                                   developed.

       Pengeluaran  untuk           tambang       dalam                Expenditures for mine under construction
       pengembangan

       Pengeluaran        untuk      tambang       dalam               Expenditures for mines under construction and
       pengembangan dan biaya-biaya lain yang                          incorporated costs in developing an area of
       terkait dengan pengembangan suatu area of                       interest subsequent to the transfer from
       interest setelah transfer dari aset eksplorasi dan              exploration and evaluation assets but prior to
       evaluasi namun sebelum dimulainya tahap                         the commencement of production stage in the
       produksi pada area yang bersangkutan,                           respective area, are capitalized to “Mines under
       dikapitalisasi      ke      “Tambang        dalam               construction” as long as they meet the
       pengembangan” sepanjang memenuhi kriteria                       capitalization criteria.
       kapitalisasi.

                                                            - 42 -
Page 200
PT GOLDEN ENERGY MINES Tbk                                                     PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                        AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                        As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,               (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                               unless Otherwise Stated)


       Tambang pada tahap produksi                                  Producing mines

       Pada saat tambang dalam pengembangan                         Upon completion of mine construction and the
       diselesaikan dan tahap produksi dimulai,                     production stage is commenced, the “Mines
       “Tambang dalam pengembangan” ditransfer ke                   under construction” are transferred into
       “Tambang pada tahap produksi” pada akun                      “Producing mines” in the “Mine Properties”
       “Aset pertambangan”, yang dicatat pada nilai                 account, which are stated at cost, less
       perolehan, dikurangi deplesi dan akumulasi                   depletion and accumulated impairment losses.
       penurunan nilai.

       Deplesi tambang pada tahap produksi adalah                   Depletion of producing mines is based on unit-
       berdasarkan metode unit produksi sejak daerah                of-production method from the date of
       pengembangan (area of interest) tersebut telah               commercial production of the respective area of
       berproduksi secara komersial, selama periode                 interest over the lesser of the life of the mine
       waktu yang lebih pendek antara umur tambang                  and the remaining terms of CCoW or IUP.
       dan sisa berlakunya PKP2B atau IUP.

       Biaya pengupasan lapisan tanah                               Stripping costs

       Biaya pengupasan lapisan tanah adalah biaya                  Stripping costs are the costs of removing
       atas aktivitas memindahkan material sisa                     overburden from a mine. Stripping costs
       tambang. Biaya pengupasan lapisan tanah                      incurred in the development of a mine before
       yang timbul pada tahap pengembangan                          production commences are capitalized as part
       tambang sebelum dimulainya tahap produksi                    of the cost of developing the mine, and are
       dikapitalisasi sebagai bagian dari biaya                     subsequently depreciated or amortized using a
       pengembangan      tambang,   dan    setelah                  unit-of-production method on the basis of
       pengakuan awal akan disusutkan atau                          proven and probable reserves, once production
       diamortisasi menggunakan metode unit                         starts.
       produksi berdasarkan estimasi cadangan
       terbukti dan terduga pada saat produksi
       dimulai.

       Aktivitas pengupasan lapisan tanah yang terjadi              Stripping activity conducted during the
       selama tahap produksi mungkin memiliki dua                   production phase may provide two benefits:
       manfaat: (i) bijih yang dapat diproses untuk                 (i) ore that is processed into inventory in the
       menjadi persediaan dalam periode berjalan dan                current period and (ii) improved access to the
       (ii) meningkatkan akses ke badan bijih di                    ore body in future periods. To the extent that
       periode berikutnya. Sepanjang manfaat dari                   benefit from the stripping activity is realized in
       aktivitas pengupasan lapisan tanah dapat                     the from of inventory produced, the Group
       direalisasikan dalam bentuk persediaan yang                  accounts for the costs of that stripping activity
       diproduksi dalam periode tersebut, Grup                      in accordance with PSAK No. 202,
       mencatat biaya atas aktivitas pengupasan                     “Inventories”. To the extent the benefit
       lapisan tanah sesuai dengan PSAK No. 202,                    improved access to ore, the Group recognizes
       “Persediaan”. Sepanjang biaya pengupasan                     these costs as a stripping activity asset, if, and
       lapisan tanah tahap produksi yang timbul                     only if, all the following criteria are met:
       dengan manfaat peningkatan akses menuju
       bijih di periode yang akan datang, Grup
       mencatat biaya tersebut sebagai aset aktivitas
       pengupasan lapisan tanah jika dan hanya jika,
       seluruh kriteria berikut terpenuhi:

       •   besar kemungkinan bahwa manfaat                          •   it is probable that the future economic
           ekonomis masa depan (peningkatan akses                       benefits (improved access to the ore body)
           menuju badan bijih (ore body) yang terkait                   associated with the stripping activity will
           dengan aktivitas pengupasan lapisan                          flow to the entity;
           tanah akan mengalir kepada entitas;

       •   entitas dapat mengidentifikasi komponen                  •   the entity can identify the component of the
           badan bijih yang aksesnya telah                              ore body for which access has been
           ditingkatkan; dan                                            improved; and


                                                         - 43 -
Page 201
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       •   biaya yang terkait dengan aktivitas                         •   the costs relating to the stripping activity
           pengupasan lapisan tanah atas komponen                          associated with that component can be
           tersebut dapat diukur secara andal                              measured reliably.

       Aset aktivitas pengupasan lapisan tanah pada                    The stripping activity asset is initially measured
       awalnya diukur pada biaya perolehan, biaya ini                  at cost, which is the accumulation of costs
       merupakan akumulasi dari biaya-biaya yang                       directly incurred to perform the stripping activity
       secara langsung terjadi untuk melakukan                         that improves access to the identified
       aktivitas pengupasan lapisan tanah yang                         component of ore body, plus an allocation of
       meningkatkan akses terhadap komponen                            directly attributable overhead costs. If incidental
       badan bijih teridentifikasi, ditambah alokasi                   operations are occurring at the same time as
       biaya overhead yang diatribusikan secara                        the production stripping activity, but are not
       langsung. Jika aktivitas insidentil terjadi pada                necessary for the production stripping activity to
       saat yang bersamaan dengan pengupasan                           continue as planned, the costs associated with
       lapisan tanah tahap produksi, namun aktivitas                   these incidental operations are not included in
       insidentil tersebut tidak harus ada untuk                       the cost of the stripping activity asset.
       melanjutkan aktivitas pengupasan lapisan
       tanah sebagaimana direncanakan, biaya yang
       terkait dengan aktivitas insidentil tersebut tidak
       dapat dimasukkan sebagai biaya perolehan
       aset aktivitas pengupasan lapisan tanah.

       Ketika biaya perolehan aset aktivitas                           When the costs of the stripping activity asset
       pengupasan lapisan tanah dan persediaan                         and the inventory produced are not separately
       yang diproduksi tidak dapat diidentifikasi secara               identifiable, the Group allocates the production
       terpisah,     Grup     mengalokasikan       biaya               stripping asset by using an allocation basis that
       pengupasan lapisan tanah dalam tahap                            is based on a relevant production measure.
       produksi antara persediaan yang diproduksi                      This production measure is calculated for the
       dan aset aktivitas pengupasan lapisan tanah                     identified component of the ore body, and is
       menggunakan dasar alokasi berdasarkan                           used as a benchmark to identify the extent to
       ukuran produksi yang relevan. Ukuran produksi                   which the additional activity of creating a future
       tersebut dihitung untuk komponen badan bijih                    benefit has taken place. The Group uses the
       teridentifikasi, dan digunakan sebagai patokan                  actual versus expected volume of waste
       untuk mengidentifikasi sejauh mana aktivitas                    extracted.
       tambahan yang menciptakan manfaat di masa
       depan telah terjadi. Grup menggunakan volume
       aktual dibandingkan ekspektasi volume sisa
       yang diekstrak.

       Setelah pengakuan awal, aset aktivitas                          Subsequently, the stripping activity asset is
       pengupasan       lapisan      tanah    dicatat                  carried at cost less depreciation or amortization
       menggunakan biaya perolehan dikurangi                           and any impairment losses, if any. The stripping
       dengan penyusutan atau amortisasi dan rugi                      activity asset is depreciated or amortized using
       penurunan nilai, jika ada. Aset aktivitas                       the units of production method over the
       pengupasan lapisan tanah disusutkan atau                        expected useful life of the identified component
       diamortisasi menggunakan metode unit                            if the ore body that becomes more accessible
       produksi selama masa manfaat dari komponen                      as a result of the stripping activity unless
       badan bijih yang teridentifikasi yang menjadi                   another method is appropriate.
       lebih mudah diakses sebagai akibat dari
       aktivitas lapisan pengupasan tanah, kecuali
       terdapat metode lain yang lebih tepat.




                                                            - 44 -
Page 202
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


        Aset pertambangan dari kombinasi bisnis                           Mine properties from business combination

        Aset pertambangan dari kombinasi bisnis                           Mine properties from business combination
        merupakan penyesuaian nilai wajar aset                            represent the fair value adjustment of mine
        pertambangan yang diperoleh pada tanggal                          properties acquired at the date of acquisition
        akuisisi dan dinyatakan sebesar harga                             and are stated at cost. Mine properties are
        perolehan. Aset pertambangan diamortisasi                         amortized over the life of the property using the
        selama umur manfaat properti menggunakan                          units of production method from the date of the
        metode unit produksi, mulai sejak tanggal                         acquisition based on estimated reserves. The
        akuisisi dengan menggunakan basis estimasi                        useful life of mine properties pertaining to
        cadangan. Umur manfaat aset pertambangan                          contractual rights is not longer than the validity
        yang timbul dari hak kontraktual tidak lebih lama                 period of such rights, except if the contractual
        dari masa hak kontraktual tersebut, kecuali jika                  rights can be renewed upon expiration without
        hak kontraktual dapat diperbarui dengan tidak                     incurring significant costs for such renewal.
        menimbulkan biaya yang signifikan. Perubahan                      Changes in estimated reserves are accounted
        dalam estimasi cadangan dilakukan secara                          for on a prospective basis, from the beginning
        prospektif, dimulai sejak awal periode                            of the period in which the changes occurs.
        terjadinya perubahan.

        Perusahaan mengakui pajak tangguhan yang                          The Company recognized the deferred tax
        timbul dari aset pertambangan dari kombinasi                      arising from mine properties from the business
        bisnis.                                                           combination.

   q.   Penurunan Nilai Aset Non-keuangan                            q.   Impairment of Non-financial Assets

        Pada setiap akhir tahun pelaporan, Grup                           The Group assesses at the end of each
        menilai apakah terdapat indikasi suatu aset                       reporting year whether there is an indication
        mengalami penurunan nilai. Jika terdapat                          that an asset may be impaired. If any such
        indikasi tersebut atau pada saat pengujian                        indication exists or when annual impairment
        penurunan nilai aset (yaitu aset takberwujud                      testing for an asset (i.e. an intangible asset with
        dengan umur manfaat tidak terbatas, aset                          an indefinite useful life, an intangible asset not
        takberwujud yang belum dapat digunakan, atau                      yet available for use, or goodwill acquired in a
        goodwill yang diperoleh dalam suatu kombinasi                     business combination) is required, the Group
        bisnis) diperlukan, maka Grup membuat                             makes an estimate of the asset’s recoverable
        estimasi formal jumlah terpulihkan aset                           amount.
        tersebut.

        Jumlah terpulihkan yang ditentukan untuk aset                     An asset’s recoverable amount is the higher of
        individual adalah jumlah yang lebih tinggi antara                 an asset’s or CGU’s fair value less costs to sell
        nilai wajar aset atau UPK dikurangi biaya untuk                   and its value in use, and is determined for an
        menjual dengan nilai pakainya, kecuali aset                       individual asset, unless the asset does not
        tersebut tidak menghasilkan arus kas masuk                        generate cash inflows that are largely
        yang sebagian besar independen dari aset atau                     independent of those from other assets or
        kelompok aset lain. Jika nilai tercatat aset atau                 groups of assets. Where the carrying amount of
        UPK       lebih    besar    daripada       jumlah                 an asset or CGU exceeds its recoverable
        terpulihkannya,      maka       aset     tersebut                 amount, the asset is considered impaired and
        dipertimbangkan mengalami penurunan nilai                         is written down to its recoverable amount.
        dan nilai tercatat aset diturunkan menjadi
        sebesar jumlah terpulihkannya.




                                                            - 45 -
Page 203
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


       Grup mendasarkan perhitungan penurunan                        The Group bases its impairment calculation on
       nilai pada rincian perhitungan anggaran atau                  detailed budgets and forecast calculations
       prakiraan yang disusun secara terpisah untuk                  which are prepared separately for each of the
       masing-masing UPK Grup atas aset individual                   Group’s CGUs to which the individual assets
       yang dialokasikan. Perhitungan anggaran dan                   are allocated. These budgets and forecast
       prakiraan ini secara umum mencakup periode                    calculations are generally covering a period of
       selama lima atau sepuluh tahun sesuai dengan                  five or ten years in accordance with the stability
       stabilitas arus kas perkebunan terkait. Setelah               of each estate’s cash flows. Beyond the
       periode yang dianggarkan proyeksi arus kas                    forecasted period, the estimated cash flows are
       diestimasi dengan melakukan ekstrapolasi                      determined by extrapolating the forecasted
       proyeksi      yang     dianggarkan      dengan                cash flows using a steady long-term growth
       menggunakan tingkat pertumbuhan jangka                        rate.
       panjang yang tetap.

       Dalam menghitung nilai pakai, estimasi arus                   In assessing the value in use, the estimated net
       kas masa depan bersih didiskontokan ke nilai                  future cash flows are discounted to their
       kini dengan menggunakan tingkat diskonto                      present value using a pre-tax discount rate that
       sebelum pajak yang menggambarkan penilaian                    reflects current market assessments of the time
       pasar kini dari nilai waktu uang dan risiko                   value of money and the risks specific to the
       spesifik atas aset. Dalam menentukan nilai                    asset. In determining fair value less costs to
       wajar dikurangi biaya untuk menjual, digunakan                sell, recent market transactions are taken into
       harga penawaran pasar terakhir, jika tersedia.                account, if available. If no such transactions
       Jika tidak terdapat transaksi tersebut, Grup                  can be identified, an appropriate valuation
       menggunakan model penilaian yang sesuai                       model is used to determine the fair value of the
       untuk    menentukan       nilai wajar     aset.               assets. These calculations are corroborated by
       Perhitungan-perhitungan ini dikuatkan oleh                    valuation multiples or other available fair value
       penilaian berganda atau indikator nilai wajar                 indicators.
       yang tersedia.

       Kerugian penurunan nilai dari operasi yang                    Impairment losses of continuing operations, if
       berkelanjutan, jika ada, diakui pada laba rugi                any, are recognized in the profit or loss in those
       sesuai dengan kategori biaya yang konsisten                   expense categories consistent with the
       dengan fungsi dari aset yang diturunkan                       functions of the impaired asset.
       nilainya.

       Untuk aset selain goodwill, penilaian dilakukan               For assets excluding goodwill, an assessment
       pada akhir setiap tanggal pelaporan apakah                    is made at each reporting date as to whether
       terdapat indikasi bahwa rugi penurunan nilai                  there is any indication that previously
       yang telah diakui dalam tahun sebelumnya                      recognized impairment losses may no longer
       mungkin tidak ada lagi atau mungkin telah                     exist or may have decreased. If such indication
       menurun. Jika indikasi dimaksud ditemukan,                    exists, the asset’s or CGU’s recoverable
       maka entitas mengestimasi jumlah terpulihkan                  amount is estimated. A previously recognized
       aset atau UPK tersebut. Kerugian penurunan                    impairment loss for an asset other than goodwill
       nilai yang telah diakui dalam periode                         is reversed only if there has been a change in
       sebelumnya untuk aset selain goodwill dibalik                 the assumptions used to determine the asset’s
       hanya jika terdapat perubahan asumsi-asumsi                   recoverable amount since the last impairment
       yang digunakan untuk menentukan jumlah                        loss was recognized. If that is the case, the
       terpulihkan aset tersebut sejak rugi penurunan                carrying amount of the asset is increased to its
       nilai terakhir diakui. Dalam hal ini, jumlah                  recoverable amount.
       tercatat    aset     dinaikkan    ke      jumlah
       terpulihkannya.




                                                          - 46 -
Page 204
PT GOLDEN ENERGY MINES Tbk                                                               PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                  AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                  As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                         (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                         unless Otherwise Stated)


        Pembalikan tersebut dibatasi sehingga jumlah                          The reversal is limited so that the carrying
        tercatat   aset     tidak    melebihi      jumlah                     amount of the assets does not exceed its
        terpulihkannya maupun jumlah tercatat, neto                           recoverable amount, nor exceed the carrying
        setelah penyusutan, seandainya tidak ada rugi                         amount that would have been determined, net
        penurunan nilai yang telah diakui untuk aset                          of depreciation, had no impairment loss been
        tersebut pada periode/tahun sebelumnya.                               recognized for the asset in prior periods/years.
        Pembalikan rugi penurunan nilai diakui pada                           Reversal of an impairment loss is recognized in
        laba rugi. Setelah pembalikan tersebut,                               the profit or loss. After such a reversal, the
        penyusutan aset tersebut disesuaikan di                               depreciation charge on the said asset is
        periode mendatang untuk mengalokasikan                                adjusted in future periods to allocate the asset’s
        jumlah tercatat aset yang direvisi, dikurangi nilai                   revised carrying amount, less any residual
        sisanya, dengan dasar yang sistematis selama                          value, on a systematic basis over its remaining
        sisa umur manfaatnya.                                                 useful life.

        Goodwill diuji untuk penurunan nilai setiap                           Goodwill is tested for impairment annually and
        tahun dan ketika terdapat indikasi bahwa nilai                        when circumstances indicate that the carrying
        tercatatnya mungkin mengalami penurunan                               value may be impaired. Impairment is
        nilai. Penurunan nilai bagi goodwill ditetapkan                       determined for goodwill by assessing the
        dengan menentukan jumlah tercatat tiap UPK                            recoverable amount of each CGU (or group of
        (atau kelompok UPK) terkait dari goodwill                             CGUs) to which the goodwill relates. Where the
        tersebut. Jika jumlah terpulihkan UPK kurang                          recoverable amount of the CGU is less than
        dari jumlah tercatatnya, rugi penurunan nilai                         their carrying amount, an impairment loss is
        diakui. Rugi penurunan nilai terkait goodwill                         recognized. Impairment losses relating to
        tidak dapat dibalik pada tahun berikutnya.                            goodwill cannot be reversed in future years.

   r.   Imbalan Kerja Karyawan                                         r.     Employee Benefits

        Grup mengakui kewajiban imbalan kerja sesuai                          The Group recognizes employee benefits
        dengan Undang-undang Ketenagakerjaan yang                             liability in accordance with the applicable Labor
        berlaku.                                                              Law.

        Pengukuran kembali, terdiri atas keuntungan                           Re-measurements, comprising of actuarial
        dan kerugian aktuarial, segera diakui pada                            gains and losses, are recognized immediately
        laporan posisi keuangan konsolidasian dengan                          in the consolidated statement of financial
        pengaruh langsung didebit atau dikreditkan                            position with a corresponding debit or credit to
        kepada saldo laba melalui PKL pada periode                            retained earnings through OCI in the period in
        terjadinya.    Pengukuran    kembali    tidak                         which they occur. Re-measurements are not
        direklasifikasi ke laba rugi pada periode                             reclassified to profit or loss in subsequent
        berikutnya.                                                           periods.

        Biaya jasa lalu harus diakui sebagai beban                            Past service costs are recognized in profit or
        pada saat yang lebih awal antara:                                     loss at the earlier between:

        i.    Ketika    program      amendemen     atau                       i.    The date of the plan amendment or
              kurtailmen terjadi; dan                                               curtailment; and
        ii.   Ketika Grup mengakui biaya restrukturisasi                      ii.   The date of the Group recognizes the
              atau imbalan terminasi terkait.                                       restructuring costs.




                                                              - 47 -
Page 205
PT GOLDEN ENERGY MINES Tbk                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                          unless Otherwise Stated)


        Bunga bersih dihitung dengan menerapkan                                Net interest is calculated by applying the
        tingkat diskonto yang digunakan terhadap                               discount rate to the net defined benefit liability.
        liabilitas imbalan kerja. Grup mengakui                                The Group recognizes the following changes in
        perubahan berikut pada kewajiban obligasi neto                         the net defined benefit obligation under “Cost of
        pada akun “Beban Pokok Penjualan” dan                                  Revenues” and “General and Administrative
        “Beban Umum dan Administrasi” pada laporan                             Expenses” as appropriate in the consolidated
        laba rugi dan penghasilan komprehensif lain                            statement of profit or loss and other
        konsolidasian:                                                         comprehensive income:

        i.    Biaya jasa terdiri atas biaya jasa kini, biaya                   i.    Service costs comprising current service
              jasa lalu, keuntungan atau kerugian atas                               costs, past-service costs, gains or losses
              penyelesaian (curtailment) tidak rutin, dan                            on     curtailments    and     non-routine
                                                                                     settlements, and
        ii.   Beban atau pendapatan bunga bersih.                              ii.   Net interest expense or income.

   s.   Provisi                                                         s.     Provision

        Provisi diakui jika Grup memiliki kewajiban kini                       Provisions are recognized when the Group has
        (baik bersifat hukum maupun bersifat                                   a present obligation (legal or constructive)
        konstruktif) yang akibat peristiwa masa lalu,                          where, as a result of a past event, it is probable
        besar       kemungkinannya         penyelesaian                        that an outflow of resources embodying
        kewajiban tersebut mengakibatkan arus keluar                           economic benefits will be required to settle the
        sumber daya yang mengandung manfaat                                    obligation and a reliable estimate can be made
        ekonomi dan estimasi yang andal mengenai                               of the amount of the obligation.
        jumlah kewajiban tersebut dapat dibuat.

        Provisi ditelaah pada setiap tanggal pelaporan                         Provisions are reviewed at each reporting date
        dan disesuaikan untuk mencerminkan estimasi                            and adjusted to reflect the current best
        terbaik yang paling kini. Jika arus keluar sumber                      estimate. If it is no longer probable that an
        daya     untuk     menyelesaikan        kewajiban                      outflow of resources embodying economic
        kemungkinan besar tidak terjadi, maka provisi                          benefits will be required to settle the obligation,
        dibatalkan.                                                            the provision is reversed.

        Pengeluaran yang terkait dengan pemulihan,                             Restoration, rehabilitation and environmental
        rehabilitasi dan lingkungan hidup yang terjadi                         expenditure incurred during the production
        pada tahap produksi dibebankan sebagai                                 phase are charged to cost of revenues as
        bagian dari beban pokok penjualan pada saat                            incurred.
        terjadinya.

        Grup memiliki kewajiban tertentu untuk                                 The Group has certain obligations for
        merestorasi     dan     merehabilitasi  daerah                         restoration and rehabilitation of mining areas
        pertambangan sesudah produksi selesai.                                 following the completion of production. In
        Dalam menentukan keberadaan liabilitas                                 determining whether a liability exists in respect
        tersebut, Grup mengacu kepada kriteria                                 of such requirements, the Group refers to the
        pengakuan liabilitas sesuai dengan standar                             criteria for such liability recognition under the
        akuntansi yang berlaku. Perubahan taksiran                             applicable accounting standards. Changes in
        biaya restorasi dan lingkungan hidup yang akan                         estimated restoration and environmental
        terjadi dihitung secara prospektif berdasarkan                         expenditure to be incurred are accounted for on
        sisa umur tambang.                                                     a prospective basis over the remaining life of
                                                                               the mine.




                                                               - 48 -
Page 206
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


   t.   Pendapatan dari Kontrak dengan Pelanggan                     t.     Revenue from Contract with Customers and
        dan Pengakuan Beban                                                 Recognition of Expenses

        Pendapatan dari kontrak dengan pelanggan                            Revenue from contracts with customers is
        diakui pada saat pengendalian barang atau jasa                      recognized when control of the goods or
        dialihkan kepada pelanggan dalam jumlah yang                        services are transferred to the customer at an
        mencerminkan imbalan yang diharapkan akan                           amount that reflects the consideration to which
        menjadi hak Grup dalam pertukaran barang                            the Group expects to be entitled in exchange
        atau jasa tersebut. Grup secara umum                                for those goods or services. The Group has
        menyimpulkan bahwa hal tersebut adalah yang                         generally concluded that it is the principal in its
        utama dalam pengaturan pendapatannya,                               revenue arrangements, except for the agency
        kecuali untuk jasa keagenan di bawah ini,                           services below, because it typically controls the
        karena secara khusus mengendalikan barang                           goods or services before transferring them to
        atau jasa sebelum mentransfernya ke                                 the customer.
        pelanggan.

        Pengakuan pendapatan mensyaratkan untuk                             Revenue recognition is required to fulfill 5 steps
        memenuhi 5 langkah analisis sebagai berikut:                        of assessment as follows:

        1.   Identifikasi kontrak dengan pelanggan.                         1.   Identify contract(s) with a customer.

        2.   Identifikasi kewajiban pelaksanaan dalam                       2.   Identify the performance obligations in the
             kontrak.       Kewajiban     pelaksanaan                            contract. Performance obligations are
             merupakan janji-janji dalam kontrak untuk                           promises in a contract to transfer to a
             menyerahkan barang atau jasa yang                                   customer goods or services that are
             memiliki     karakteristik  berbeda    ke                           distinct.
             pelanggan.

        3.   Menetapkan harga transaksi, setelah                            3.   Determine the transaction price, net of
             dikurangi diskon, retur, insentif penjualan                         discounts, returns, sales incentives and
             dan pajak pertambahan nilai, yang berhak                            value added tax, which an entity expects to
             diperoleh     suatu     entitas     sebagai                         be entitled in exchange for transferring the
             kompensasi atas diserahkannya barang                                promised goods or services to a customer.
             atau jasa yang dijanjikan di kontrak.

        4.   Alokasi harga transaksi ke setiap                              4.   Allocate the transaction price to each
             kewajiban         pelaksanaan        dengan                         performance obligation on the basis of the
             menggunakan dasar harga jual berdiri                                relative stand-alone selling prices of each
             sendiri relatif dari setiap barang atau jasa                        distinct goods or services promised in the
             berbeda yang dijanjikan di kontrak. Ketika                          contract. When these are not directly
             tidak dapat diamati secara langsung, harga                          observable, the relative standalone selling
             jual berdiri sendiri relatif diperkirakan                           price are estimated based on expected
             berdasarkan biaya yang diharapkan                                   cost plus margin.
             ditambah marjin.

        5.   Pengakuan pendapatan ketika kewajiban                          5.   Recognize revenue when performance
             pelaksanaan telah dipenuhi dengan                                   obligation is satisfied by transferring a
             menyerahkan barang atau jasa yang                                   promised goods or services to a customer
             dijanjikan ke pelanggan (ketika pelanggan                           (which is when the customer obtains
             telah memiliki kendali atas barang atau                             control of those goods of services).
             jasa tersebut).

        Untuk     penjualan       barang,    kewajiban                      For sale of goods, performance obligation is
        pelaksanaan       umumnya     terpenuhi,   dan                      typically satisfied, and revenue is recognized,
        pendapatan diakui, pada saat pengendalian                           when the control of goods has been transferred
        atas barang telah berpindah kepada pelanggan                        to the customer (a point of time).
        (pada suatu titik waktu).




                                                            - 49 -
Page 207
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


        Penerimaan kas dari pelanggan sehubungan                         Cash received from customer related to the
        dengan transaksi penjualan yang belum                            sales transactions which have not fulfilled the
        memenuhi kriteria pengakuan pendapatan,                          criteria for revenue recognition are recorded as
        dicatat sebagai bagian dari “Uang muka                           part of “Advance from customers - third parties”
        pelanggan - pihak ketiga” dalam laporan posisi                   in the consolidated statement of financial
        keuangan konsolidasian.                                          position.

        Penghasilan/Beban Bunga                                          Interest Income/Expense

        Untuk semua instrumen keuangan yang diukur                       For all financial instruments measured at
        pada        biaya    perolehan     diamortisasi,                 amortized cost, interest income or expense is
        penghasilan atau beban bunga dicatat dengan                      recorded using the EIR, which is the rate that
        menggunakan metode SBE, yaitu tingkat suku                       exactly discounts the estimated future cash
        bunga digunakan mendiskontokan secara tepat                      payments or receipts over the expected life of
        estimasi pembayaran atau penerimaan arus                         the financial instrument or a shorter period,
        kas di masa yang akan datang selama umur                         where appropriate, to the net carrying amount
        ekpektasian dari instrumen keuangan, atau jika                   of the financial asset or liability.
        lebih sesuai, selama periode yang lebih singkat,
        untuk jumlah tercatat bersih dari aset atau
        liabilitas keuangan.

        Beban                                                            Expenses

        Beban diakui pada saat terjadinya (asas                          Expenses are       recognized when        incurred
        akrual).                                                         (accrual basis).

   u.   Sewa                                                        u.   Leases

        Grup menilai pada saat insepsi kontrak apabila                   The Group assesses at contract inception
        kontrak tersebut adalah, atau mengandung,                        whether a contract is, or contains, a lease. That
        sewa. Yaitu, bila kontrak tersebut memberikan                    is, if the contract conveys the right to control the
        hak untuk mengendalikan penggunaan aset                          use of an identified asset for a period of time in
        identifikasian selama suatu jangka waktu untuk                   exchange for consideration.
        dipertukarkan dengan imbalan.

        Grup sebagai penyewa                                             The Group as lessee

        Grup menerapkan pendekatan pengakuan dan                         The Group applies a single recognition and
        pengukuran tunggal untuk semua sewa, kecuali                     measurement approach for all leases, except
        untuk sewa jangka-pendek dan sewa yang aset                      for short-term leases and leases of low-value
        pendasarnya bernilai-rendah. Grup mengakui                       assets. The Group recognizes lease liabilities
        liabilitas sewa untuk melakukan pembayaran                       to make lease payments and right-of-use
        sewa dan aset hak-guna yang mewakili hak                         assets representing the right to use the
        untuk menggunakan aset pendasar.                                 underlying assets.

        Aset hak guna                                                    Right-of-use assets

        Grup mengakui aset hak-guna pada tanggal                         The Group recognizes right-of-use assets at
        permulaan sewa (yaitu tanggal aset pendasar                      the commencement date of the lease (i.e., the
        tersedia untuk digunakan). Aset hak-guna                         date the underlying asset is available for use).
        diukur pada harga perolehan, dikurangi                           Right-of-use assets are measured at cost, less
        akumulasi penyusutan dan penurunan nilai,                        any accumulated depreciation and impairment
        serta disesuaikan dengan pengukuran kembali                      losses, and adjusted for any remeasurement of
        liabilitas sewa. Biaya perolehan aset hak-guna                   lease liabilities. The cost of right-of-use assets
        mencakup jumlah liabilitas sewa yang diakui,                     includes the amount of lease liabilities
        biaya langsung awal yang terjadi, dan                            recognized, initial direct costs incurred, and
        pembayaran sewa yang dilakukan pada atau                         lease payments made at or before the
        sebelum tanggal permulaan dikurangi setiap                       commencement date less any lease incentives
        insentif sewa yang diterima. Aset hak guna                       received. Right-of-use assets are depreciated
        disusutkan dengan metode garis lurus selama                      on a straight-line basis over the lease term.
        masa sewa.


                                                           - 50 -
Page 208
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       Liabilitas sewa                                                 Lease liabilities

       Pada tanggal permulaan sewa, Grup mengakui                      At the commencement date of the lease, the
       liabilitas sewa yang diukur pada nilai kini                     Group recognizes lease liabilities measured at
       pembayaran sewa yang harus dilakukan                            the present value of lease payments to be
       selama masa sewa.                                               made over the lease term.

       Pembayaran sewa juga mencakup harga                             The lease payments also include the exercise
       pelaksanaan dari opsi beli yang secara wajar                    price of a purchase option reasonably certain to
       pasti dilaksanakan oleh Grup dan pembayaran                     be exercised by the Group and payments of
       pinalti untuk mengakhiri sewa, jika masa sewa                   penalties for terminating the lease, if the lease
       merefleksikan adanya opsi dapat mengakhiri                      term reflects exercising the option to terminate.
       sewa. Pembayaran sewa variabel yang tidak                       Variable lease payments that do not depend on
       bergantung pada indeks atau tarif diakui                        an index or a rate are recognized as expenses
       sebagai beban pada periode terjadinya                           in the period in which the event or condition that
       peristiwa atau kondisi yang memicu terjadinya                   triggers the payment occurs.
       pembayaran tersebut.

       Dalam menghitung nilai kini pembayaran sewa,                    In calculating the present value of lease
       Grup menggunakan Suku Bunga Pinjaman                            payments, the Group uses its Incremental
       Inkremental (SBPI) pada tanggal permulaan                       Borrowing Rate (IBR) at the lease
       sewa karena suku bunga implisit dalam sewa                      commencement date because the interest rate
       tidak dapat langsung ditentukan. Setelah                        implicit in the lease is not readily determinable.
       tanggal permulaan, jumlah kewajiban sewa                        After the commencement date, the amount of
       ditingkatkan untuk mencerminkan akresi bunga                    lease liabilities is increased to reflect the
       (atas efek diskonto) dan dikurangi untuk                        accretion of interest and reduced for the lease
       pembayaran sewa yang dilakukan. Selain itu,                     payments made. In addition, the carrying
       nilai tercatat liabilitas sewa diukur kembali jika              amount of lease liabilities is remeasured if there
       terdapat modifikasi, perubahan masa sewa,                       is a modification, a change in the lease term, a
       perubahan pembayaran sewa, atau perubahan                       change in the lease payments or a change in
       penilaian atas opsi untuk membeli aset                          the assessment of an option to purchase the
       pendasar.                                                       underlying asset.

       Sewa jangka pendek dan sewa dengan aset                         Short-term leases and leases of low-value
       bernilai rendah                                                 assets

       Grup menerapkan pengecualian pengakuan                          The Group applies the short-term lease
       sewa jangka pendek untuk sewa yang jangka                       recognition exemption to its short-term leases
       waktu sewanya pendek (yaitu, sewa yang                          (i.e., those leases that have a lease term of
       memiliki jangka waktu sewa 12 bulan atau                        12 months or less from the commencement
       kurang dari tanggal permulaan dan tidak                         date and do not contain a purchase option). The
       memiliki opsi beli). Grup juga menerapkan                       Group also applies the lease of low-value
       pengecualian pengakuan sewa dengan aset                         assets recognition exemption to leases that are
       bernilai rendah untuk sewa yang aset                            considered to be low value. Lease payments on
       pendasarnya dianggap bernilai rendah.                           short-term leases and leases of low-value
       Pembayaran sewa untuk sewa jangka pendek                        underlying assets are recognized as expense
       dan sewa dari aset bernilai rendah diakui                       on a straight-line basis over the lease term.
       sebagai beban dengan metode garis lurus
       selama masa sewa.




                                                            - 51 -
Page 209
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


        Grup sebagai pesewa                                              The Group as lessor

        Sewa yang dalam pengaturannya Grup tidak                         Leases in which the Group does not transfer
        mengalihkan secara substansial seluruh risiko                    substantially all the risks and rewards incidental
        dan manfaat yang terkait dengan kepemilikan                      to ownership of an asset are classified as
        suatu aset diklasifikasikan sebagai sewa                         operating leases. Lease income arising is
        operasi. Pendapatan sewa yang timbul dicatat                     accounted for on a straight-line basis over the
        dengan metode garis lurus selama masa sewa                       lease terms and is included in other operating
        dan diakui sebagai bagian dari pendapatan                        income in the profit or loss due to its operating
        usaha pada laba rugi karena sifatnya. Biaya                      nature. Initial direct costs incurred in
        langsung awal yang terjadi dalam negosiasi dan                   negotiating and arranging an operating lease
        pengaturan sewa operasi ditambahkan ke                           are added to the carrying amount of the leased
        jumlah tercatat dari aset sewaan dan diakui                      asset and recognized over the lease term on
        selama masa sewa atas dasar yang sama                            the same basis as lease income.
        dengan pendapatan sewa.

   v.   Perpajakan                                                v.     Taxation

        Pajak Kini                                                       Current Tax

        Aset dan liabilitas pajak kini untuk tahun                       Current income tax assets and liabilities for the
        berjalan diukur sebesar jumlah yang                              current year are measured at the amount
        diharapkan dapat direstitusi dari atau                           expected to be recovered from or paid to the
        dibayarkan kepada otoritas perpajakan. Tarif                     taxation authority. The tax rates and tax laws
        pajak dan peraturan pajak yang digunakan                         used to compute the amount are those that
        untuk menghitung jumlah tersebut adalah yang                     have been enacted or substantively enacted as
        telah berlaku atau secara substantif telah                       at the reporting date in the countries where the
        berlaku pada tanggal pelaporan di negara                         Group operates and generates taxable income.
        tempat Grup beroperasi dan menghasilkan
        pendapatan kena pajak.

        Bunga dan denda disajikan sebagai bagian dari                    Interests and penalties are presented as part of
        penghasilan atau beban operasi lain karena                       other operating income or expenses since they
        tidak dianggap sebagai bagian dari beban pajak                   are not considered as part of the income tax
        penghasilan.                                                     expense.

        Pajak penghasilan kini terkait dengan pos-pos                    Current income tax relating to items recognized
        yang diakui secara langsung di ekuitas diakui                    directly in equity is recognized in equity and not
        dalam ekuitas dan bukan dalam laporan laba                       in the statement of profit or loss. Management
        rugi. Manajemen secara berkala mengevaluasi                      periodically evaluates positions taken in the tax
        posisi yang diambil dalam SPT sehubungan                         returns with respect to situations in which
        dengan situasi di mana peraturan perpajakan                      applicable tax regulations are subject to
        yang berlaku tunduk pada interpretasi dan                        interpretation and establishes provisions where
        menetapkan ketentuan yang sesuai.                                appropriate.

        Pajak Tangguhan                                                  Deferred Tax

        Pajak tangguhan diakui dengan menggunakan                        Deferred tax is provided using the liability
        metode liabilitas atas perbedaan temporer pada                   method on temporary differences at the
        tanggal pelaporan antara dasar pengenaan                         reporting date between the tax bases of assets
        pajak dari aset dan liabilitas dan jumlah                        and liabilities and their carrying amounts for
        tercatatnya untuk tujuan pelaporan keuangan                      financial reporting purposes at the reporting
        pada tanggal pelaporan.                                          date.




                                                         - 52 -
Page 210
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       Aset pajak tangguhan diakui untuk seluruh                       Deferred tax assets are recognized for all
       perbedaan temporer yang dapat dikurangkan                       deductible temporary differences and carry
       dan akumulasi rugi pajak belum dikompensasi,                    forward of unused tax losses, to the extent that
       bila kemungkinan besar laba kena pajak akan                     it is probable that taxable profits will be
       tersedia sehingga perbedaan temporer dapat                      available against which deductible temporary
       dikurangkan tersebut, dan rugi pajak belum                      differences, and the carry forward of unused tax
       dikompensasi, dapat dimanfaatkan, kecuali:                      losses can be utilized, except:

       i.    jika aset pajak tangguhan timbul dari                     i.    where the deferred tax asset relating to the
             pengakuan awal aset atau liabilitas dalam                       deductible temporary difference arises
             transaksi yang bukan transaksi kombinasi                        from the initial recognition of an asset or
             bisnis dan tidak mempengaruhi laba                              liability in a transaction that is not a
             akuntansi maupun laba kena pajak/rugi                           business combination and, at the time of
             pajak; atau                                                     the transaction, affects neither the
                                                                             accounting profit nor taxable profit or loss;
                                                                             or

       ii.   dari perbedaan temporer yang dapat                        ii.   in respect of deductible temporary
             dikurangkan atas investasi pada entitas                         differences associated with investments in
             anak, aset pajak tangguhan hanya diakui                         subsidiaries, deferred tax assets are
             bila besar kemungkinannya bahwa beda                            recognized only to the extent that it is
             temporer itu tidak akan dibalik dalam waktu                     probable that the temporary differences
             dekat dan laba kena pajak dapat                                 will reverse in the foreseeable future and
             dikompensasi dengan beda temporer                               taxable profit will be available against
             tersebut.                                                       which the temporary differences can be
                                                                             utilized.

       Jumlah tercatat aset pajak tangguhan ditelaah                   The carrying amount of a deferred tax asset is
       pada setiap tanggal pelaporan dan diturunkan                    reviewed at each reporting date and reduced to
       apabila laba fiskal mungkin tidak memadai                       the extent that it is no longer probable that
       untuk mengkompensasi sebagian atau semua                        sufficient taxable profit will be available to allow
       manfaat aset pajak tangguhan. Aset pajak                        all or part of the benefit of that deferred tax
       tangguhan yang tidak diakui ditinjau ulang pada                 asset to be utilized. Unrecognized deferred tax
       setiap tanggal pelaporan dan akan diakui                        assets are reassessed at each reporting date
       apabila besar kemungkinan bahwa laba fiskal                     and are recognized to the extent that it has
       pada masa yang akan datang akan tersedia                        become probable that future taxable profit will
       untuk pemulihannya.                                             allow the deferred tax assets to be recovered.

       Liabilitas pajak tangguhan diakui untuk semua                   Deferred tax liabilities are recognized for all
       perbedaan temporer yang kena pajak, kecuali:                    taxable temporary differences, except:

       i.    liabilitas pajak tangguhan yang terjadi dari              i.    where the deferred tax liability arises from
             pengakuan awal goodwill atau dari aset                          the initial recognition of goodwill or of an
             atau liabilitas dari transaksi yang bukan                       asset or liability in a transaction that is not
             transaksi kombinasi bisnis, dan pada                            a business combination and, at the time of
             waktu transaksi tidak mempengaruhi laba                         the transaction affects neither the
             akuntansi dan laba kena pajak/rugi pajak;                       accounting profit nor taxable profit or loss;

       ii.   dari perbedaan temporer kena pajak atas                   ii.   in respect of taxable temporary differences
             investasi pada entitas anak, yang saat                          associated       with    investments      in
             pembalikannya dapat dikendalikan dan                            subsidiaries, when the timing of the
             besar kemungkinannya bahwa beda                                 reversal of the temporary differences can
             temporer itu tidak akan dibalik dalam waktu                     be controlled and it is probable that the
             dekat.                                                          temporary differences will not reverse in
                                                                             the foreseeable future.

       Aset dan liabilitas pajak tangguhan diukur                      Deferred tax assets and liabilities are measured
       dengan menggunakan tarif pajak yang                             at the tax rates that are expected to apply to the
       diharapkan akan berlaku pada tahun saat aset                    year when the asset is realized or the liability is
       dipulihkan    atau    liabilitas diselesaikan                   settled, based on tax rates and tax laws that
       berdasarkan tarif pajak dan peraturan pajak                     have been enacted or substantively enacted as
       yang berlaku atau yang secara substantif telah                  at the reporting date.
       berlaku pada tanggal pelaporan.


                                                            - 53 -
Page 211
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


       Pajak tangguhan terkait dengan pos-pos yang                     Deferred tax relating to items recognized
       diakui di luar laba rugi diakui di luar laba rugi.              outside profit or loss is recognized outside profit
       Item pajak tangguhan diakui sesuai dengan                       or loss. Deferred tax items are recognized in
       transaksi yang mendasarinya baik di PKL                         correlation to the underlying transaction either
       maupun secara langsung di ekuitas.                              in OCI or directly in equity.

       Manfaat pajak yang diperoleh sebagai bagian                     Tax benefits acquired as part of a business
       dari kombinasi bisnis, tetapi tidak memenuhi                    combination, but not satisfying the criteria for
       kriteria untuk pengakuan terpisah pada tanggal                  separate recognition at that date, are
       tersebut, diakui selanjutnya jika informasi baru                recognised subsequently if new information
       tentang fakta dan keadaan berubah.                              about facts and circumstances change. The
       Penyesuaian tersebut diperlakukan sebagai                       adjustment is either treated as a reduction in
       pengurangan goodwill (selama tidak melebihi                     goodwill (as long as it does not exceed
       goodwill)     jika  terjadi   selama     periode                goodwill) if it was incurred during the
       pengukuran atau diakui dalam laba rugi.                         measurement period or recognized in profit or
                                                                       loss.

       Grup melakukan saling hapus aset pajak                          The Group offsets deferred tax assets and
       tangguhan dan liabilitas pajak tangguhan jika                   deferred tax liabilities if and only if it has a
       dan hanya jika memiliki hak yang berkekuatan                    legally enforceable right to set off current tax
       hukum untuk saling hapus aset pajak kini dan                    assets and current tax liabilities and the
       liabilitas pajak kini dan aset pajak tangguhan                  deferred tax assets and deferred tax liabilities
       dan liabilitas pajak tangguhan terkait dengan                   relate to income taxes levied by the same
       pajak penghasilan yang dikenakan oleh otoritas                  taxation authority on either the same taxable
       perpajakan yang sama atas baik entitas kena                     entity or different taxable entities which intend
       pajak yang sama atau entitas kena pajak yang                    either to settle current tax liabilities and assets
       berbeda yang bermaksud untuk menyelesaikan                      on a net basis, or to realise the assets and
       liabilitas dan aset pajak kini secara neto, atau                settle the liabilities simultaneously, in each
       untuk merealisasikan aset dan menyelesaikan                     future period in which significant amounts of
       liabilitas secara bersamaan, pada setiap                        deferred tax liabilities or assets are expected to
       periode masa depan di mana jumlah liabilitas                    be settled or recovered.
       atau aset pajak tangguhan yang signifikan
       diharapkan untuk diselesaikan atau dipulihkan.

       Pajak Pertambahan Nilai                                         Value Added Tax

       Pendapatan, beban-beban dan aset-aset diakui                    Revenue, expenses and assets are recognized
       neto atas jumlah PPN kecuali:                                   net of the amount of VAT except:

       •   PPN yang muncul dari pembelian aset atau                    •   Where the VAT incurred on a purchase of
           jasa yang tidak dapat dikreditkan, yang                         assets or services is not recoverable, in
           dalam hal ini PPN diakui sebagai bagian                         which case the VAT is recognized as part
           dari biaya perolehan aset atau sebagai                          of the cost of acquisition of the asset or as
           bagian dari item beban-beban yang terkait;                      part of the expense item as applicable; and
           dan

       •   Piutang dan utang yang disajikan termasuk                   •   Receivables and payables that are stated
           dengan jumlah PPN.                                              with the amount of VAT included.

       Jumlah PPN neto yang diajukan untuk                             The net amount of VAT which is claimed for
       direstitusi, atau terutang kepada, kantor pajak                 restitution from, or payable to, the taxation
       termasuk sebagai bagian dari aset atau                          authorities is included as part of assets or
       liabilitas pada laporan posisi keuangan                         liabilities in the consolidated statement of
       konsolidasian.                                                  financial position.

       Pajak Final                                                     Final Tax

       Sesuai peraturan perpajakan di Indonesia,                       In accordance with the tax regulation in
       pajak final dikenakan atas nilai bruto transaksi,               Indonesia, final tax is applied to the gross value
       dan tetap dikenakan walaupun atas transaksi                     of transactions, even when the parties carrying
       tersebut pelaku transaksi mengalami kerugian.                   the transaction recognizing losses.


                                                            - 54 -
Page 212
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


        Pajak final tidak termasuk dalam lingkup yang                      Final tax is scoped out from PSAK No. 212
        diatur oleh PSAK No. 212 ”Pajak Penghasilan”.                      “Income Tax”.

   w. Laba per Saham                                                w. Earnings per Share

        Laba per saham dihitung berdasarkan rata- rata                     Earnings per share is computed based on the
        tertimbang jumlah saham yang beredar selama                        weighted average number of issued and fully
        tahun yang bersangkutan.                                           paid shares during the year.

        Perusahaan tidak mempunyai efek berpotensi                         The Company has no outstanding dilutive
        saham biasa yang bersifat dilutif pada tanggal                     potential  ordinary    shares as     of
        31 Desember 2024 dan 2023.                                         December 31, 2024 and 2023.

   x.   Informasi Segmen                                            x.     Segment Information

        Untuk tujuan manajemen, Grup dibagi menjadi                        For management purposes, the Group is
        dua segmen operasi berdasarkan produk dan                          organized into two operating segments based
        jasa yang dikelola secara independen oleh                          on their products and services which are
        masing-masing pengelola segmen yang                                independently managed by the respective
        bertanggung jawab atas kinerja dari masing-                        segment managers responsible for the
        masing segmen. Para pengelola segmen                               performance of the respective segments under
        melaporkan    secara    langsung    kepada                         their charge. The segment managers report
        manajemen Perusahaan yang secara teratur                           directly to the management who regularly
        mengkaji laba segmen sebagai dasar untuk                           review the segment results in order to allocate
        mengalokasikan sumber daya ke masing-                              resources to the segments and to assess the
        masing segmen dan untuk menilai kinerja                            segment performance.
        segmen.

        Pengungkapan tambahan pada masing-                                 Additional disclosures on each of these
        masing segmen terdapat dalam Catatan 38,                           segments are shown in Note 38, including the
        termasuk faktor yang digunakan untuk                               factors used to identify the reportable segments
        mengidentifikasi segmen yang dilaporkan dan                        and the measurement basis of segment
        dasar pengukuran informasi segmen.                                 information.

   y.   Peristiwa setelah Periode Pelaporan                         y.     Events after Reporting Period

        Peristiwa-peristiwa yang terjadi setelah periode                   Post year-end events that provide additional
        pelaporan yang menyediakan tambahan                                information about the consolidated statement of
        informasi    mengenai       posisi     keuangan                    financial position at the reporting date
        konsolidasian Grup pada tanggal laporan posisi                     (adjusting events), if any, are reflected in the
        keuangan konsolidasian (peristiwa penyesuai),                      consolidated financial statements. Post
        jika ada, telah tercermin dalam laporan                            yearend events that are not adjusting events
        keuangan konsolidasian. Peristiwa-peristiwa                        are disclosed in the notes to consolidated
        yang terjadi setelah periode pelaporan yang                        financial statements when material.
        tidak memerlukan penyesuaian (peristiwa
        nonpenyesuai), apabila jumlahnya material,
        telah diungkapkan dalam laporan keuangan
        konsolidasian.




                                                           - 55 -
Page 213
PT GOLDEN ENERGY MINES Tbk                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                          unless Otherwise Stated)


3.   Pertimbangan, Estimasi dan Asumsi Akuntansi                   3.   Significant Accounting Judgments, Estimates
     Signifikan                                                         and Assumptions

     Penyusunan laporan keuangan konsolidasian Grup                     The preparation of the Group’s consolidated
     mengharuskan manajemen untuk membuat                               financial statements requires management to make
     pertimbangan, estimasi dan asumsi yang                             judgments, estimates and assumptions that effect
     memengaruhi jumlah yang dilaporkan dari                            the reported amounts of revenues, expenses,
     pendapatan, beban, aset dan liabilitas, dan                        assets and liabilities, and the disclosure of
     pengungkapan atas liabilitas kontinjensi, pada akhir               contingent liabilities, at the end of the reporting
     periode pelaporan. Ketidakpastian mengenai                         period. Uncertainty about these judgments,
     pertimbangan, asumsi dan estimasi tersebut dapat                   assumptions and estimates could result in
     mengakibatkan penyesuaian material terhadap nilai                  outcomes that require a material adjustment to the
     tercatat aset dan liabilitas dalam pelaporan dimasa                carrying amounts of assets and liabilities affected in
     mendatang.                                                         future years.

     Pertimbangan                                                       Judgments

     Pertimbangan-pertimbangan berikut dibuat oleh                      The following judgments are made by management
     manajemen dalam rangka penerapan kebijakan                         in the process of applying the Group’s accounting
     akuntansi Grup yang memiliki pengaruh paling                       policies that have the most significant effects on the
     signifikan atas jumlah yang diakui dalam laporan                   amounts recognized in the consolidated financial
     keuangan konsolidasian:                                            statements:

     a.   Perpajakan                                                    a.     Taxation

          Ketidakpastian atas interpretasi dari peraturan                      Uncertainties exist with respect to the
          pajak yang kompleks, perubahan peraturan                             interpretation of complex tax regulations,
          pajak dan jumlah dan timbulnya penghasilan                           changes in tax laws, and the amount and timing
          kena pajak di masa depan, dapat menyebabkan                          of future taxable income, could necessitate
          penyesuaian di masa depan atas penghasilan                           future adjustments to tax income and expense
          dan beban pajak yang telah dicatat.                                  already recorded.

          Pertimbangan       juga    dilakukan    dalam                        Judgment is also involved in determining the
          menentukan penyisihan atas pajak penghasilan                         provision for corporate income tax. There are
          badan. Terdapat transaksi dan perhitungan                            certain transactions and computation for which
          tertentu yang penentuan pajak akhirnya adalah                        the ultimate tax determination is uncertain
          tidak pasti sepanjang kegiatan usaha normal.                         during the ordinary course of business.

          Jumlah tercatat pajak dibayar di muka, utang                         The Group’s carrying amount of prepaid taxes,
          pajak penghasilan, aset pajak tangguhan dan                          taxes payable, deferred tax assets and
          liabilitas pajak tangguhan Grup diungkapkan                          deferred tax liabilities are disclosed in Note 33.
          dalam Catatan 33.

     b.   Alokasi Harga Beli dan Penurunan Goodwill                     b.     Purchase Price      Allocation    and   Goodwill
                                                                               Impairment

          Akuntansi akuisisi mengharuskan penggunaan                           Acquisition accounting requires extensive use
          estimasi akuntansi secara ekstensif dalam                            of accounting estimates to allocate the
          mengalokasikan biaya perolehan kepada nilai                          purchase price to the fair market values of the
          pasar wajar yang dapat diandalkan atas aset                          assets and liabilities purchased, including
          dan liabilitas yang diakuisisi, termasuk aset tak                    intangible assets. Under PSAK No. 103,
          berwujud. Sesuai PSAK No. 103, “Kombinasi                            “Business Combinations”, goodwill is not
          Bisnis”, goodwill tidak diamortisasi dan                             amortized and is subject to an annual
          dilakukan pengujian atas penurunan nilainya                          impairment testing. Further details are
          setiap tahunnya. Penjelasan lebih rinci                              disclosed in Note 32.
          diungkapkan dalam Catatan 32.




                                                              - 56 -
Page 214
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


        Penyusunan estimasi arus kas masa depan                            The preparation of estimated future cash flows
        dalam menentukan nilai wajar aset pada                             in determining the fair values of assets at the
        tanggal-tanggal akuisisi melibatkan estimasi                       dates of acquisition involves significant
        yang     signifikan. Walaupun     manajemen                        estimations. While the management believes
        berkeyakinan bahwa asumsi yang digunakan                           that its assumptions are appropriate and
        adalah tepat dan masuk akal, perubahan                             reasonable, significant change in its
        signifikan pada asumsi tersebut dapat                              assumptions may materially affect its
        memengaruhi secara material evaluasi atas                          assessment of recoverable values and may
        nilai terpulihkan dan dapat menimbulkan                            lead to future impairment charges under
        penurunan nilai sesuai PSAK No. 236,                               PSAK No. 236, “Impairment of Assets”.
        “Penurunan Nilai Aset”.

        Goodwill diuji untuk penurunan nilai setiap                        Goodwill is subject to annual impairment test.
        tahunnya.      Manajemen        menggunakan                        Management uses its judgment in estimating
        pertimbangan dalam mengestimasi jumlah                             the recoverable value and determining if there
        terpulihnya dan menentukan adanya indikasi                         is any indication of impairment. Estimates on
        penurunan nilai. Estimasi atas nilai terpulihkan                   the recoverable amount are further described in
        diuraikan pada bagian “Estimasi dan Asumsi”                        “Estimates and Assumptions” section in this
        pada Catatan ini.                                                  Note.

   Estimasi dan Asumsi                                              Estimates and Assumptions

   Asumsi utama mengenai masa depan dan sumber                      The key assumptions concerning the future and
   utama lain dalam mengestimasi ketidakpastian                     other key sources of estimation uncertainty at the
   pada tanggal pelaporan yang mempunyai risiko                     reporting date that have a significant risk of causing
   signifikan yang dapat menyebabkan penyesuaian                    a material adjustment to the carrying amounts of
   material terhadap nilai tercatat aset dan liabilitas             assets and liabilities within the next financial period
   dalam periode berikutnya diungkapkan di bawah ini.               are disclosed below. The Group based its
   Grup mendasarkan asumsi dan estimasi pada                        assumptions and estimates on parameters
   parameter yang tersedia saat laporan keuangan                    available when the consolidated financial
   konsolidasian disusun. Kondisi yang ada dan                      statements were prepared. Existing circumstances
   asumsi mengenai perkembangan masa depan                          and assumptions about future developments may
   dapat berubah karena perubahan situasi pasar yang                change due to market changes on circumstances
   berada di luar kendali Grup. Perubahan tersebut                  arising beyond the control of the Group. Such
   tercermin dalam asumsi ketika keadaan tersebut                   changes are reflected in the assumptions when they
   terjadi:                                                         occur:

   a.   Penurunan Nilai Aset Non-Keuangan                           a.     Impairment of Non-Financial Assets

        Penelaahan atas penurunan nilai dilakukan                          Impairment review is performed when certain
        apabila terdapat indikasi penurunan nilai aset                     impairment       indicators    are     present.
        tertentu.    Penentuan    nilai  wajar    aset                     Determination of the fair value of assets
        membutuhkan estimasi arus kas yang                                 requires the estimation of cash flows expected
        diharapkan akan dihasilkan dari pemakaian                          to be generated from the continued use and
        berkelanjutan dan pelepasan akhir atas aset                        ultimate disposition of such assets. Any
        tersebut. Perubahan signifikan dalam asumsi-                       significant changes in the assumptions used in
        asumsi yang digunakan untuk menentukan nilai                       determining the fair value may materially affect
        wajar dapat berdampak signifikan pada nilai                        the assessment of recoverable values and any
        terpulihkan dan jumlah kerugian penurunan                          resulting impairment loss could have a material
        nilai yang terjadi mungkin berdampak material                      impact on results of Group’s operations.
        pada hasil operasi Grup.

        Penjelasan lebih lanjut diungkapkan dalam                          Further details are disclosed in Notes 9, 11,
        Catatan 9, 11, dan 32.                                             and 32.

        Pada tanggal 31 Desember 2024 dan 2023,                            As of December 31, 2024 and 2023, there are
        tidak ada kegiatan atau perubahan yang                             no events or changes in circumstances which
        mengindikasikan penurunan nilai aset non-                          indicate any impairment in value of non-
        keuangan.                                                          financial assets.




                                                           - 57 -
Page 215
PT GOLDEN ENERGY MINES Tbk                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                          unless Otherwise Stated)


   b.   Estimasi Cadangan          dan    Sumber      Daya              b.     Coal Reserves and Resources Estimates
        Batubara

        Cadangan batubara merupakan estimasi atas                              Coal reserves are estimates of the amount of
        jumlah mineral tambang yang dapat secara                               ore that can be economically and legally
        ekonomis dan legal ditambang dari area                                 extracted from the Group’s mining area.
        tambang Grup. Manajemen memperkirakan                                  Management estimates its ore reserves and
        jumlah cadangan mineral tambang dan sumber                             mineral resources based on information
        daya mineral berdasarkan informasi mengenai                            complied by appropriately qualified persons
        data geologis terhadap ukuran, kedalaman dan                           relating to the geological data on the size, depth
        susunan bebatuan yang dikompilasi oleh orang                           and shape of the ore body, and requires
        yang memiliki kualifikasi yang memadai, dan                            complex geological judgements to interpret the
        mengharuskan pertimbangan geologis yang                                data. Changes in the reserved or resource
        rumit untuk menerjemahkan data tersebut.                               estimates may have an impact on the carrying
        Perubahan pada estimasi cadangan dan                                   value of mines properties and amortization
        sumber daya akan mempengaruhi nilai tercatat                           charges.
        dari aset pertambangan serta besarnya
        amortisasi.

   c.   Provisi untuk     Reklamasi      dan   Penutupan                c.     Provision for Reclamation and Mine Closure
        Tambang

        Manajemen menilai provisi ini pada setiap                              Management assesses this provision at each
        tanggal pelaporan. Estimasi dan asumsi yang                            reporting date. Significant estimates and
        signifikan digunakan dalam penentuan provisi                           assumptions are made in determining this
        karena banyak faktor yang memengaruhi                                  provision as there are numerous factors that
        besarnya jumlah akhir yang terutang. Faktor                            will affect the ultimate liability payable. These
        tersebut diantaranya adalah estimasi ruang                             factors include estimates of the extent and
        lingkup dan biaya aktivitas rehabilitasi,                              costs of rehabilitation activities, technological
        perubahan teknologi, peraturan, kenaikan biaya                         changes, regulatory changes, cost increases
        karena terjadinya inflasi dan perubahan tingkat                        as compared to the inflation rates and changes
        diskonto.      Ketidakpastian     ini     dapat                        in discount rates. These uncertainties may
        menyebabkan pengeluaran aktual di masa                                 result in future actual expenditure differing from
        mendatang tidak sama dengan jumlah provisi                             the amounts currently provided. The provision
        yang diakui pada saat ini. Saldo provisi pada                          at the reporting date represents management’s
        tanggal pelaporan merupakan estimasi terbaik                           best estimate of the present value of the future
        manajemen mengenai nilai kini atas biaya                               rehabilitation costs required.
        rehabilitasi yang akan terjadi di masa
        mendatang.

        Perubahan atas estimasi biaya yang akan                                Changes to estimated future costs are
        terjadi di masa mendatang diakui di dalam                              recognized in the consolidated statement of
        laporan posisi keuangan konsolidasian dengan                           financial position by either recognizing increase
        mengakui kenaikan atau penurunan provisi dan                           or decrease of the provision and asset if the
        aset, jika pada saat pengakuan awal provisi ini                        initial estimate was originally recognized as part
        diakui sebagai bagian dari aset yang diukur                            of an asset measured in accordance with PSAK
        sesuai dengan PSAK No. 216, “Aset Tetap”.                              No. 216, “Fixed Assets”. Any reduction in the
        Penurunan terhadap saldo provisi tidak boleh                           provision balance may not exceed the carrying
        melebihi nilai tercatat aset tersebut. Jika terjadi,                   amount of that asset. If it does, any excess over
        maka kelebihan tersebut diakui segera dalam                            the carrying value is taken immediately to profit
        laba rugi.                                                             or loss.

        Jika perubahan estimasi menyebabkan                                    If the change in estimate results in an increase
        kenaikan    liabilitas rehabilitasi    dan                             in the rehabilitation liability and therefore an
        penambahan nilai tercatat aset terkait,                                addition to the carrying value of the asset,
        manajemen     mempertimbangkan      apakah                             management considers whether this is an
        ini merupakan indikasi penurunan nilai                                 indication of impairment of the asset as a
        aset secara keseluruhan, dan melakukan                                 whole, and test for impairment in accordance
        pengujian atas penurunan nilai sesuai                                  with PSAK No. 236.
        dengan PSAK No. 236.



                                                               - 58 -
Page 216
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


         Untuk tambang yang sudah siap, jika nilai aset                        For mature mines, if the revised mine assets
         tambang yang telah direvisi dan provisi untuk                         and net of rehabilitation provisions exceeds the
         rehabilitasi neto melebihi nilai yang dipulihkan,                     recoverable value, that portion of the increase
         sebagian dari kenaikan tersebut dibebankan                            is charged directly to expenses. For closed
         langsung ke dalam biaya. Untuk tambang yang                           sites, changes to estimated costs are
         sudah ditutup, perubahan estimasi biaya diakui                        recognized immediately in profit or loss. Also,
         secara langsung dalam laba rugi. Liabilitas                           rehabilitation obligations that arose as a result
         rehabilitasi yang muncul sebagai akibat dari                          of the production phase of a mine, should be
         fase produksi suatu area tambang, juga harus                          expensed when incurred. Further details are
         dibebankan pada saat terjadinya. Penjelasan                           disclosed in Note 19.
         lebih lanjut diungkapkan dalam Catatan 19.


4.   Kas dan Setara Kas                                           4.    Cash and Cash Equivalents

                                                     2024               2023
     Kas                                                                              Cash on hand
       Rupiah (Catatan 36)                              91.737            105.635       Rupiah (Note 36)
       Dolar Amerika Serikat                             1.300              1.300       United States Dollar
     Jumlah kas                                         93.037            106.935     Total cash on hand

     Kas di bank                                                                      Cash in banks
     Pihak berelasi (Catatan 35)                                                      Related parties (Note 35)
        PT Bank Sinarmas Tbk                                                            PT Bank Sinarmas Tbk
          Rupiah (Catatan 36)                           934.666          2.190.275         Rupiah (Note 36)
          Dolar Amerika Serikat                      31.693.130         50.491.598         United States Dollar
        PT Bank Nano Syariah (dahulu PT Bank                                            PT Bank Nano Syariah (formerly PT Bank
          Sinarmas Tbk - Unit Usaha Syariah)                                               Sinarmas Tbk - Sharia Business Unit)
          Rupiah (Catatan 36)                         5.704.086           325.827          Rupiah (Note 36)
     Jumlah                                          38.331.882         53.007.700    Sub-total

     Pihak ketiga                                                                     Third parties
        Rupiah (Catatan 36)                                                             Rupiah (Note 36)
          PT Bank Rakyat Indonesia (Persero) Tbk     13.551.788          1.982.013         PT Bank Rakyat Indonesia (Persero) Tbk
          PT Bank Negara Indonesia (Persero) Tbk      1.947.207          6.065.994         PT Bank Negara Indonesia (Persero) Tbk
          PT Bank Mandiri (Persero) Tbk               1.812.647         12.574.900         PT Bank Mandiri (Persero) Tbk
          PT Bank Central Asia Tbk                      186.417            113.538         PT Bank Central Asia Tbk
          PT Bank Pembangunan Daerah                                                       PT Bank Pembangunan Daerah
             Sumatera Selatan dan Bangka Belitung       78.778             37.325             Sumatera Selatan dan Bangka Belitung
          PT Bank UOB Indonesia                         56.023            121.268          PT Bank UOB Indonesia
          PT Bank Danamon Indonesia Tbk                 18.298             61.735          PT Bank Danamon Indonesia Tbk
          PT Bank Pembangunan Daerah                                                       PT Bank Pembangunan Daerah
             Kalimantan Tengah                          14.983             15.287             Kalimantan Tengah
        Dolar Amerika Serikat                                                           United States Dollar
          PT Bank Negara Indonesia (Persero) Tbk     96.924.427         39.567.404         PT Bank Negara Indonesia (Persero) Tbk
          PT Bank Rakyat Indonesia (Persero) Tbk     92.479.562         98.491.532         PT Bank Rakyat Indonesia (Persero) Tbk
          PT Bank Mandiri (Persero) Tbk              72.339.821         98.103.629         PT Bank Mandiri (Persero) Tbk
          PT Bank Danamon Indonesia Tbk               2.370.293          7.870.355         PT Bank Danamon Indonesia Tbk
          ICICI Bank Limited, Singapura                 337.396             95.458         ICICI Bank Limited, Singapore
          PT Bank Central Asia Tbk                       47.580             55.002         PT Bank Central Asia Tbk
          CIMB Bank Berhad, Singapura                    21.026            101.537         CIMB Bank Berhad, Singapore
          PT Bank Maybank Indonesia Tbk                       -             88.546         PT Bank Maybank Indonesia Tbk
          PT Bank UOB Indonesia                               -             12.363         PT Bank UOB Indonesia
        Dolar Singapura (Catatan 36)                                                    Singapore Dollar (Note 36)
          CIMB Bank Berhad, Singapura                   17.876             22.525          CIMB Bank Berhad, Singapore
     Jumlah                                         282.204.122        265.380.411    Sub-total

     Jumlah kas di bank                             320.536.004        318.388.111    Total cash in banks

     Deposito berjangka                                                               Time deposit
       ICICI Bank Limited, Singapura                                                    ICICI Bank Limited, Singapore
          Dolar Amerika Serikat                       6.300.000                   -        United States Dollar

     Jumlah                                         326.929.041        318.495.046    Total




                                                             - 59 -
Page 217
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


5.   Dana yang Dibatasi Pencairannya                          5.   Restricted Funds

                                                 2024              2023

     Pihak berelasi (Catatan 35)                                                Related party (Note 35)
        PT Bank Sinarmas Tbk - TKS                    6.882             7.215     PT Bank Sinarmas Tbk - TKS

     Pihak ketiga                                                               Third parties
        PT Bank Negara Indonesia (Persero) Tbk                                    PT Bank Negara Indonesia (Persero) Tbk
          BORNEO                                  2.123.973         6.861.520        BORNEO
          BSL                                       592.246           592.245        BSL
          BSA                                       105.659           110.772        BSA
          WRL                                        67.487            70.754        WRL
          TKS                                        56.707            59.451        TKS
        PT Bank Rakyat Indonesia (Persero) Tbk                                    PT Bank Rakyat Indonesia (Persero) Tbk
          BORNEO                                  9.848.637         3.775.965        BORNEO
          BSL                                     8.074.991         5.481.990        BSL
          TKS                                       711.048           597.812        TKS
          KIM                                       506.845           531.372        KIM
          BHBA                                      382.292           400.793        BHBA
          KCP                                       353.225           370.318        KCP
          KIS                                       341.964           358.513        KIS
          BBU                                       322.768           214.843        BBU
          BBM                                       227.141           205.837        BBM
          TBBU                                      168.842           177.012        TBBU
          BNP                                       137.097           143.731        BNP
        PT Bank Mandiri (Persero) Tbk - WRL         208.297           218.376     PT Bank Mandiri (Persero) Tbk - WRL
        PT Bank Pembangunan Daerah                                                PT Bank Pembangunan Daerah
          Kalimantan Tengah - TKS                  424.065           444.586         Kalimantan Tengah - TKS
       Jumlah                                    24.653.284        20.615.890     Sub-total

     Jumlah                                      24.660.166        20.623.105   Total



     Dana yang dibatasi pencairannya digunakan                     Restricted funds are used as collateral to carry out
     sebagai jaminan untuk melaksanakan rehabilitasi               river rehabilitation, reclamation guarantee and post-
     aliran sungai, jaminan reklamasi dan penutupan                mining guarantee with government.
     tambang dengan pemerintah.




                                                        - 60 -
Page 218
PT GOLDEN ENERGY MINES Tbk                                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                     unless Otherwise Stated)


6.   Piutang Usaha                                                            6.   Trade Receivables

     a.   Berdasarkan Pelanggan                                                    a.     By Customers

                                                                      2024               2023

          Pihak berelasi (Catatan 35)                                10.827.962         18.043.833   Related parties (Note 35)

          Pihak ketiga                                                                               Third parties
             PT Exploitasi Energi Indonesia Tbk                      27.993.393         34.410.238     PT Exploitasi Energi Indonesia Tbk
             PT Dwi Guna Laksana Tbk                                 16.047.902         23.393.926     PT Dwi Guna Laksana Tbk
             China Bai Gui International Trade Limited, Hong Kong    15.330.775         11.684.794     China Bai Gui International Trade Limited, Hong Kong
             PT Hua Chin Aluminum Indonesia                           9.969.295                  -     PT Hua Chin Aluminum Indonesia
             PT JSW Steel Global Trade                                8.411.583          9.112.180     PT JSW Steel Global Trade
             PT PLN Batubara Niaga                                    8.367.765          1.551.782     PT PLN Batubara Niaga
             PT Sinergi Laksana Bara Mas                              8.333.616          9.569.693     PT Sinergi Laksana Bara Mas
             Indo Tausch Trading DMCC, Uni Emirat Arab                7.773.810          8.062.533     Indo Tausch Trading DMCC, United Arab Emirates
             GMR Infrastructure Limited, India                        7.163.655                  -     GMR Infrastructure Limited, India
             Datang Group Holdings Limited,                                                            Datang Group Holdings Limited,
                Republik Rakyat Cina                                  6.578.357                  -        People's Republic of China
             Starport Trading and Development Limited,                                                 Starport Trading and Development Limited,
                Hong Kong                                             5.931.926                  -        Hong Kong
             HMS Bergbau AG, Jerman                                   3.511.404          7.915.928     HMS Bergbau AG, Germany
             KITAI Resources Ltd., Hong Kong                          3.494.732         30.217.178     KITAI Resources Ltd., Hong Kong
             PT Lipe Metal Industry                                   2.845.579          5.141.648     PT Lipe Metal Industry
             Tata Power Company Ltd., India                              62.299         23.288.889     Tata Power Company Ltd., India
             Asicoal Trading Pte. Ltd., Singapura                             -         18.213.922     Asicoal Trading Pte. Ltd., Singapore
             Adani Global FZE, India                                          -          8.964.378     Adani Global FZE, India
             C&D (Singapore) Business Pte. Ltd., Singapura                    -          8.574.063     C&D (Singapore) Business Pte. Ltd., Singapore
             PT Indonesia Tsingshan Stainless Steel                           -          6.839.423     PT Indonesia Tsingshan Stainless Steel
             PT Ocean Sky Metal Industri                                      -          5.717.079     PT Ocean Sky Metal Industri
             Trafigura Asia Trading Pte. Ltd., Singapura                      -          5.319.600     Trafigura Asia Trading Pte. Ltd., Singapore
             Lain-lain (masing-masing
                dibawah US$ 5.000.000)                               60.047.989         55.886.101      Others (each below US$ 5,000,000)
          Jumlah pihak ketiga                                       191.864.080     273.863.355         Total third parties

          Jumlah                                                    202.692.042     291.907.188         Total

     b.   Berdasarkan Umur Piutang                                                 b.     By Age

                                                                      2024               2023

          Belum jatuh tempo                                         180.629.358     264.783.954      Not yet due
          Jatuh tempo                                                                                Past due
            Kurang dari 1 bulan                                      18.076.061         18.578.941     Less than 1 month
            1 bulan - 2 bulan                                         3.616.297          8.311.945     1 month - 2 months
            2 bulan - 3 bulan                                                 -                  -     2 months - 3 months
            Lebih dari 3 bulan                                          370.326            232.348     More than 3 months

          Jumlah                                                    202.692.042     291.907.188      Total



     c.   Berdasarkan Mata Uang                                                    c.     By Currency

                                                                     2024               2023

          Dolar Amerika Serikat                                      82.231.076     174.968.675      United States Dollar
          Rupiah (Catatan 36)                                       120.460.966     116.938.513      Rupiah (Note 36)

          Jumlah                                                    202.692.042     291.907.188      Total

     Piutang usaha tertentu milik Grup dijaminkan atas                             Certain trade receivables owned by the Group were
     pinjaman dari PT Bank Danamon Indonesia Tbk dan                               used as collateral on loan from PT Bank Danamon
     PT Bank Mandiri (Persero) Tbk (Catatan 14).                                   Indonesia Tbk and PT Bank Mandiri (Persero) Tbk
                                                                                   (Note 14).




                                                                        - 61 -
Page 219
PT GOLDEN ENERGY MINES Tbk                                                              PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                 AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                 As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                        (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                        unless Otherwise Stated)


     Cadangan kerugian kredit untuk piutang usaha telah                  Allowance for credit losses for trade receivables has
     diukur sejumlah ECL sepanjang umur. ECL pada                        been measured at an amount equal to lifetime ECL.
     piutang usaha diestimasi berdasarkan matriks                        The ECL on trade receivables are estimated using
     provisi dengan mengacu pada pengalaman gagal                        a provision matrix by reference to past default
     bayar debitur masa lalu dan analisis posisi                         experience of the debtor and an analysis of the
     keuangan debitur saat ini, disesuaikan dengan                       debtor’s current financial position, adjusted for
     faktor-faktor yang spesifik dari debitur dan kondisi                factors that are specific to the debtors and general
     ekonomi umum industri di mana debitur beroperasi.                   economic conditions of the industry in which the
     Manajemen menentukan bahwa piutang usaha                            debtors operate. Management determines the trade
     memiliki kerugian kredit yang tidak material,                       receivables are subject to immaterial credit loss,
     sehingga tidak ada pembentukan cadangan                             hence no allowance for credit losses for trade
     kerugian kredit untuk piutang usaha.                                receivables have been recognized.

     Manajemen berpendapat bahwa tidak terdapat                          Management believes that there is no significant
     risiko terkonsentrasi secara signifikan atas piutang                concentration of credit risk on trade receivables
     usaha dari pihak ketiga.                                            from third parties.


7.   Persediaan                                                     7.   Inventories

                                                        2024              2023

     Batubara                                          22.682.648        40.074.914    Coal
     Suku cadang dan bahan bakar                          451.185           291.818    Sparepart and fuel

     Jumlah                                            23.133.833        40.366.732    Total

     Persediaan tertentu milik Grup dijaminkan atas                      Certain inventories owned by the Group were used
     pinjaman dari PT Bank Danamon Indonesia Tbk                         as collateral on loan from PT Bank Danamon
     (Catatan 14).                                                       Indonesia Tbk (Note 14).

     Rincian persediaan yang diasuransikan adalah                        Details of insured inventories are as follows:
     sebagai berikut:

              Entitas Anak/                Perusahaan asuransi/           Mata Uang/           Nilai Pertanggungan/Sum Insured
              Subsidiaries                  Insurance company              Currency                2024               2023

     BORNEO                           PT Lippo General Insurance Tbk         USD                  20.000.000         20.000.000
     Grup KIM/KIM Group               PT Lippo General Insurance Tbk         USD                  11.700.000         11.700.000
     BSL                                  PT Asuransi Sinarmas *)             IDR         210.000.000.000       210.000.000.000
     *) Pihak berelasi (Catatan 35)/ Related party (Note 35)

     Manajemen       berpendapat   bahwa     nilai                       Management believes that the insurance coverage
     pertanggungan asuransi tersebut cukup untuk                         is adequate to cover possible losses on the assets
     menutup kemungkinan kerugian atas persediaan                        insured.
     yang dipertanggungkan.

     Manajemen berpendapat bahwa persediaan dapat                        Management believes that the inventories can be
     digunakan atau dijual dan nilai realisasi bersihnya                 either used or sold and that their net realizable value
     masih melebihi nilai tercatat persediaan pada                       exceeds the carrying value of inventories as of
     tanggal 31 Desember 2024 dan 2023.                                  December 31, 2024 and 2023.




                                                               - 62 -
Page 220
PT GOLDEN ENERGY MINES Tbk                                                                                                   PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                      AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                        Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                      As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                             (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                             unless Otherwise Stated)


8.   Uang Muka dan Biaya Dibayar Dimuka                                                           8.      Advances and Prepaid Expenses

                                                                                 2024                       2023

     Uang muka                                                                                                                   Advances
        Pemasok                                                                 12.774.088                10.404.591               Suppliers
        Royalti (Catatan 37)                                                     4.342.548                 5.331.564               Royalty (Note 37)
        Jasa penambangan                                                           984.374                 1.035.273               Mining services
        Karyawan                                                                   779.849                   800.048               Employees
        Jasa bantuan manajemen                                                                                                     Management assistance services
           (Catatan 37)                                                             343.398                  360.016                  (Note 37)
        Perbaikan dan pemeliharaan jalan (Catatan 35)                                     -               61.348.599               Road repairs and maintenance (Note 35)
        Pembebasan lahan                                                                  -               20.336.015               Land acquisition
     Biaya dibayar di muka                                                                                                       Prepaid expenses
        Asuransi (Catatan 35)                                                   11.640.901                        63.504           Insurance (Note 35)
        Lain-lain                                                                  157.557                       172.819           Others
     Lain-lain                                                                     800.196                       625.612         Others

     Jumlah                                                                     31.822.911               100.478.041             Total



9.   Aset Tetap                                                                                   9.      Property and Equipment
                                                                                 Perubahan selama tahun 2024/
                                                                                     Changes during 2024
                                                             Selisih Kurs
                                                             Penjabaran/
                                                               Foreign
                                                              Currency
                                          1 Januari 2024/    Translation       Penambahan/          Pengurangan/          Reklasifikasi/         31 Desember 2024/
                                          January 1, 2024    Adjustment          Additions           Deductions          Reclassifications       December 31, 2024

     Harga Perolehan                                                                                                                                                  Cost
     Tanah                                     17.440.499           (85.096)                -                     -                     -               17.355.403    Land
     Bangunan                                  17.947.292           (28.607)           25.769                     -             1.374.419               19.318.873    Buildings
     Infrastruktur                             47.477.843           179.635            11.848                     -            12.201.866               59.871.192    Infrastructure
     Mesin dan alat berat                      62.456.166             1.627            93.430                     -             4.473.698               67.024.921    Machinery and heavy equipment
     Transportasi dan peralatan lainnya         4.499.869           (16.656)           63.897               (23.324)                    -                4.523.786    Transportation and other equipment
     Perabot dan perlengkapan kantor           17.194.035           (17.543)        1.301.783               (45.533)            3.925.709               22.358.451    Office furniture and fixtures
     Prasarana                                    423.320                 -                 -                     -                     -                  423.320    Leasehold improvements
     Aset dalam penyelesaian                   14.499.380           (52.714)       17.064.998                     -           (21.975.692)               9.535.972    Construction in-progress
     Jumlah                                  181.938.404            (19.354)       18.561.725               (68.857)                         -         200.411.918    Total

     Akumulasi Penyusutan                                                                                                                                             Accumulated Depreciation
     Bangunan                                  (8.362.161)           24.993         (1.136.340)                      -                       -          (9.473.508)   Buildings
     Infrastruktur                            (25.739.111)           42.224         (2.749.980)                      -                       -         (28.446.867)   Infrastructure
     Mesin dan alat berat                     (26.502.320)              123         (4.164.663)                      -                       -         (30.666.860)   Machinery and heavy equipment
     Transportasi dan peralatan lainnya        (3.509.442)           17.447           (488.014)                 23.324                       -          (3.956.685)   Transportation and other equipment
     Perabot dan perlengkapan kantor          (13.474.121)           19.380         (4.146.229)                 45.533                       -         (17.555.437)   Office furniture and fixtures
     Prasarana                                   (423.320)                -                  -                       -                       -            (423.320)   Leasehold improvements
     Jumlah                                   (78.010.475)          104.167        (12.685.226)                 68.857                       -         (90.522.677)   Total

     Nilai Buku Bersih                       103.927.929                                                                                               109.889.241    Net Book Value

                                                                                 Perubahan selama tahun 2023/
                                                                                     Changes during 2023
                                                             Selisih Kurs
                                                             Penjabaran/
                                                               Foreign
                                                              Currency
                                          1 Januari 2023/    Translation       Penambahan/          Pengurangan/          Reklasifikasi/         31 Desember 2023/
                                          January 1, 2023    Adjustment          Additions           Deductions          Reclassifications       December 31, 2023

     Harga Perolehan                                                                                                                                                  Cost
     Tanah                                        337.891               262        17.000.519                     -                101.827              17.440.499    Land
     Bangunan                                  16.023.518            12.412             9.937                     -              1.901.425              17.947.292    Buildings
     Infrastruktur                             44.151.541            21.430           231.107                     -              3.073.765              47.477.843    Infrastructure
     Mesin dan alat berat                      60.842.867               242           340.916                     -              1.272.141              62.456.166    Machinery and heavy equipment
     Transportasi dan peralatan lainnya         5.018.206                 -            41.049              (559.386)                     -               4.499.869    Transportation and other equipment
     Perabot dan perlengkapan kantor           12.580.498            11.673         1.057.235               (69.874)             3.614.503              17.194.035    Office furniture and fixtures
     Prasarana                                    423.320                 -                 -                     -                      -                 423.320    Leasehold improvements
     Aset dalam penyelesaian                    7.224.801                 5        17.238.235                     -             (9.963.661)             14.499.380    Construction in-progress
     Jumlah                                  146.602.642             46.024        35.918.998              (629.260)                         -         181.938.404    Total

     Akumulasi Penyusutan                                                                                                                                             Accumulated Depreciation
     Bangunan                                  (7.309.578)          (10.255)        (1.042.328)                   -                          -          (8.362.161)   Buildings
     Infrastruktur                            (23.275.159)         (145.680)        (2.318.272)                   -                          -         (25.739.111)   Infrastructure
     Mesin dan alat berat                     (22.300.133)             (272)        (4.201.915)                   -                          -         (26.502.320)   Machinery and heavy equipment
     Transportasi dan peralatan lainnya        (3.336.301)                -           (732.527)             559.386                          -          (3.509.442)   Transportation and other equipment
     Perabot dan perlengkapan kantor          (10.988.857)           (2.223)        (2.552.915)              69.874                          -         (13.474.121)   Office furniture and fixtures
     Prasarana                                   (423.318)               (2)                 -                    -                          -            (423.320)   Leasehold improvements
     Jumlah                                   (67.633.346)         (158.432)       (10.847.957)             629.260                          -         (78.010.475)   Total

     Nilai Buku Bersih                         78.969.296                                                                                              103.927.929    Net Book Value




                                                                                          - 63 -
Page 221
PT GOLDEN ENERGY MINES Tbk                                                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                  unless Otherwise Stated)


   Beban penyusutan dialokasikan sebagai berikut:                                                  Depreciation expense was allocated as follows:

                                                                               2024                2023

    Beban pokok penjualan (Catatan 26)                                          2.142.287           2.201.481         Cost of revenues (Note 26)
    Beban penjualan (Catatan 27)                                                3.361.021           3.296.856         Selling expenses (Note 27)
    Beban umum dan administrasi (Catatan 28)                                    7.181.918           5.349.620         General and administrative expenses (Note 28)

    Jumlah                                                                     12.685.226          10.847.957         Total


   Rincian aset dalam penyelesaian adalah sebagai                                                  Details of construction in-progress are as follows:
   berikut:

                                                                Persentase Penyelesaian               Estimasi
                                                               tanggal 31 Desember 2024/            Penyelesaian/
              Aset dalam Penyelesaian/                          Percentage of Completion             Estimated
              Construction in-progress                          as of December 31, 2024              Completion                        2024                         2023

    Bangunan/Buildings                                                    20% - 95%                  Desember/                          1.110.498                       676.520
                                                                                                   December 2025
    Infrastruktur/Infrastructure                                          20% - 95%                  Desember/                          3.958.026                  10.454.056
                                                                                                   December 2025
    Mesin dan alat berat/                                                 20% - 95%                  Desember/                             182.212                      270.027
    Machinery and heavy equipment                                                                  December 2025
    Perabot dan perlengkapan kantor/                                      20% - 95%                  Desember/                          4.285.236                    3.098.777
    Office furniture and fixtures                                                                  December 2025

    Jumlah/Total                                                                                                                        9.535.972                  14.499.380

   Rincian aset yang diasuransikan adalah sebagai                                                  Details of insured assets are as follows:
   berikut:

                                                   Perusahaan asuransi/               Mata Uang/      Nilai Pertanggungan/Sum Insured
                Jenis Aset                          Insurance company                  Currency          2024                 2023                           Asset Type

                                                                          *)
    Kendaraan                                     PT Asuransi Sinarmas                      IDR         290.000.000              290.000.000   Vehicles
                                                  PT Asuransi Sinarmas *)                   IDR       3.329.998.000            3.329.998.000

    Fasilitas sipil dan peralatan             PT Lippo General Insurance Tbk                USD         80.307.021               80.307.021    Civil facilities and mechanical and
      mekanik dan elektrik di lokasi                                                                                                              electrical equipment at Port
      Port Bunati, Kecamatan Satui,                                                                                                               Bunati, Satui Subdistrict,
      Kalimantan Selatan                                                                                                                          South Kalimantan

    Mesin dalam bangunan kantor dan           PT Lippo General Insurance Tbk                IDR      40.040.225.174           40.040.225.174   Machinery in office building and
      basecamp di Desa Angsana,                                                                                                                  basecamp located at Angsana
      Kabupaten Tanah Bumbu,                                                                                                                     Village, Tanah Bumbu District,
      Kalimantan Selatan                                                                                                                         South Kalimantan

    Bangunan, infrastruktur, mesin dan        PT Lippo General Insurance Tbk                USD           2.100.000                2.100.000   Building, infrastructure, machinery
      peralatan lainnya di Tanjung                                                                                                               and other equipment located at
      Belit, Kecamatan Jujuhan,                                                                                                                  Tanjung Belit, Jujuhan Subdistrict
      Jambi                                                                                                                                      Jambi

    Bangunan kantor dan basecamp              PT Lippo General Insurance Tbk                IDR      77.147.678.816           77.147.678.816   Office building and basecamp located
      di Desa Angsana,                                                                                                                            at Angsana Village,
      Kabupaten Tanah Bumbu,                                                                                                                      Tanah Bumbu District,
      Kalimantan Selatan                                                                                                                          South Kalimantan

    Mesin dan alat berat KIM dan BNP,           PT Asuransi FPG Indonesia                   IDR       1.050.000.000            1.050.000.000   Machinery and heavy equipment
      entitas anak                                                                                                                               of KIM and BNP, subsidiaries

    Contractor's plant and machinery          PT Lippo General Insurance Tbk                IDR      49.836.974.332           49.836.974.332   Contractor's plant and machinery
      insurance                                   PT Asuransi Sinarmas *)                   IDR                   -           23.790.000.000     insurance
                                                PT Asuransi Wahana Tata                     USD           1.351.202                1.351.202

    Property all risk and                    PT Lippo General Insurance Tbk                 IDR                   -       526.477.758.012      Property all risk and
       earthquake insurance              PT Asuransi Adira and PT Asuransi Kresna           IDR     796.977.758.012                     -         earthquake insurance
                                                 PT Asuransi Sinarmas *)                    IDR                   -       270.500.000.000

    *) Pihak berelasi (Catatan 35) / Related party (Note 35)




                                                                                      - 64 -
Page 222
PT GOLDEN ENERGY MINES Tbk                                                     PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                        AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                        As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,               (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                               unless Otherwise Stated)


    Manajemen      berpendapat      bahwa   nilai                Management believes that the insurance coverage
    pertanggungan tersebut cukup untuk menutup                   is adequate to cover possible losses on the assets
    kemungkinan     kerugian   atas   aset yang                  insured.
    dipertanggungkan.

    Pada tanggal 31 Desember 2024 dan 2023, aset                 As of December 31, 2024 and 2023, certain
    tetap tertentu dijaminkan atas pinjaman dari                 property and equipment were usedas collateral on
    PT Bank Mandiri (Persero) Tbk (Catatan 14).                  loan from PT Bank Mandiri (Persero) Tbk (Note 14).

    Pada tanggal 31 Desember 2024 dan 2023,                      As of December 31, 2024 and 2023, based on
    berdasarkan evaluasi manajemen, tidak terdapat               management’s assessment, there are no events,
    kejadian, kondisi, atau perubahan keadaan yang               conditions or changes in circumstances which may
    mengindikasikan adanya penurunan nilai aset tetap            indicate impairment in the value of the Group’s
    Grup.                                                        property and equipment.

    Seluruh aset tetap adalah atas nama Grup.                    All of the property and equipment is under the name
                                                                 of the Group.


10. Aset Eksplorasi dan Evaluasi                             10. Exploration and Evaluation Assets

    Akun ini merupakan biaya sehubungan dengan                   This account comprises deferred costs related to
    penyelidikan umum, biaya perizinan, biaya                    general investigation, licenses, feasibility study,
    feasibility study, biaya konstruksi dan pembukaan            construction and infrastructure, drilling and
    sarana dan biaya pemboran dan eksplorasi yang                exploration for Musi Banyuasin and Dharmasraya
    ditangguhkan untuk area Musi Banyuasin dan                   areas, which have not yet reached production stage
    Dharmasraya, yang pada tanggal laporan posisi                as of the consolidated statement of financial
    keuangan konsolidasian belum mencapai tahap                  position dates.
    produksi.

    Pada tanggal 31 Desember 2024 dan 2023,                      As of December 31, 2024 and 2023, based on
    berdasarkan evaluasi manajemen, tidak terdapat               management’s assessment, there are no events,
    kejadian, kondisi, atau perubahan keadaan yang               conditions or changes in circumstances which may
    mengindikasikan adanya penurunan nilai aset                  indicate impairment in the value of the Group’s
    eksplorasi dan evaluasi Grup.                                exploration and evaluation assets.




                                                        - 65 -
Page 223
PT GOLDEN ENERGY MINES Tbk                                                                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                    unless Otherwise Stated)


11. Aset Pertambangan                                                                                11. Mine Properties
                                                                                                                        Aset Pertambangan
                                                                                                Aset Aktivitas            dari Kombinasi
                                                    Tambang dalam                               Pengupasan                     Bisnis/
                                                    Pengembangan/       Tambang pada           Lapisan Tanah/            Mine Properties
                                                     Mines Under        Tahap Produksi/       Stripping Activity          from Business      Jumlah/
                                                     Construction       Producing Mines             Asset                  Combination        Total


    Biaya perolehan pada tanggal 1 Januari 2023          33.582.345           86.413.326            119.491.549               104.469.940    343.957.160     Cost as of January 1, 2023
       Penambahan                                        53.890.405                    -             18.730.654                         -     72.621.059       Addition
                                                                                                                                                               Foreign exchange differences arising
       Selisih kurs penjabaran laporan keuangan            (121.618)             190.999                  (2.833)                       -         66.548           from financial statements translation

    Biaya perolehan pada tanggal 31 Desember 2023        87.351.132           86.604.325            138.219.370               104.469.940    416.644.767     Cost as of December 31, 2023
       Penambahan                                        86.852.864                    -                      -                         -     86.852.864       Addition
       Ditransfer ke tambang pada
           tahap produksi                              (141.113.503)         141.113.503                           -                    -               -       Transfer to producing mines
                                                                                                                                                                Foreign exchange differences arising
       Selisih kurs penjabaran laporan keuangan             (86.134)            (124.309)                 (2.833)                       -        (213.276)         from financial statements translation

    Biaya perolehan pada tanggal
       31 Desember 2024                                  33.004.359          227.593.519            138.216.537               104.469.940    503.284.355     Cost as of December 31, 2024


    Akumulasi amortisasi pada tanggal                                                                                                                        Accumulated amortization as of
      1 Januari 2023                                                -        (38.229.681)           (72.017.163)               (4.293.098)   (114.539.942)      January 1, 2023
      Beban tahun berjalan                                          -         (3.026.121)           (41.988.722)                 (411.454)    (45.426.297)      Charge for the year
                                                                                                                                                                Foreign exchange differences arising
       Selisih kurs penjabaran laporan keuangan                     -              6.965                  60.595                        -         67.560           from financial statements translation
    Akumulasi amortisasi pada tanggal                                                                                                                        Accumulated amortization as of
      31 Desember 2023                                              -        (41.248.837)          (113.945.290)               (4.704.552)   (159.898.679)      December 31, 2023
      Beban tahun berjalan                                          -        (24.813.152)            (1.357.940)                 (436.776)    (26.607.868)      Charge for the year
      Rugi penurunan nilai                                          -         (4.175.483)                     -                (3.660.004)     (7.835.487)      Impairment losses
                                                                                                                                                                Foreign exchange differences arising
       Selisih kurs penjabaran laporan keuangan                     -             11.219                           -                    -         11.219           from financial statements translation
    Akumulasi amortisasi pada tanggal                                                                                                                        Accumulated amortization as of
      31 Desember 2024                                              -        (70.226.253)          (115.303.230)               (8.801.332)   (194.330.815)      December 31, 2024

    Nilai tercatat pada tanggal 1 Januari 2023           33.582.345           48.183.645             47.474.386               100.176.842    229.417.218     Net book value as of January 1, 2023

    Nilai tercatat pada tanggal 31 Desember 2023         87.351.132           45.355.488             24.274.080                99.765.388    256.746.088     Net book value as of December 31, 2023

    Nilai tercatat pada tanggal 31 Desember 2024         33.004.359          157.367.266             22.913.307                95.668.608    308.953.540     Net book value as of December 31, 2024



   Pada tahun 2024, berdasarkan hasil dari pengujian                                                           In 2024, based on the results of impairment testing
   penurunan nilai yang dilakukan atas Goodwill                                                                performed on its goodwill (Note 32), the Group
   (Catatan 32), Grup mencatat kerugian penurunan                                                              recognized impairment losses on the mine
   nilai atas aset pertambangan BSA, WRL dan TKS                                                               properties of BSA, WRL and TKS amounting to
   sebesar US$ 7.835.487. Kerugian penurunan nilai                                                             US$ 7,835,487. These impairment losses are
   tersebut diakui sebagai bagian dari “Lain-lain –                                                            presented as part of “Others - net” (Note 30)
   bersih” (Catatan 30) dalam laba rugi.                                                                       in profit or loss.

   Amortisasi aset pertambangan - tambang pada                                                                 Amortization of mine properties - producing mines
   tahap produksi dan aset aktivitas pengupasan                                                                and stripping activity asset are presented as part of
   lapisan tanah diakui sebagai bagian dari “Beban                                                             "Cost of revenues" (Note 26) in profit or loss.
   pokok penjualan” (Catatan 26) dalam laba rugi.

   Amortisasi aset pertambangan - aset pertambangan                                                            Amortization of mine properties - mine properties
   dari kombinasi bisnis diakui sebagai bagian dari                                                            from business combination is presented as part of
   “Lain-lain - bersih” (Catatan 30) dalam laba rugi.                                                          “Others - net” (Note 30) in profit or loss.




                                                                                            - 66 -
Page 224
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


12. Aset Tidak Berwujud - Piranti Lunak - Bersih              12. Intangible Asset - Software - Net

    Mutasi piranti lunak sebagai berikut:                           Movement of software follows:

                                                2024               2023

    Harga perolehan                                                             Cost
    Saldo awal                                  2.663.667          2.637.035    Beginning balance
    Penambahan                                     57.207             26.489    Additions
                                                                                Exchange difference, due to
    Selisih kurs penjabaran laporan keuangan           318                143     financial statement translation
    Jumlah                                      2.721.192          2.663.667    Total
    Akumulasi amortisasi                                                        Accumulated amortization
    Saldo awal                                  2.645.805          2.595.169    Beginning balance
    Amortisasi                                     57.979             50.494    Amortization
                                                                                Exchange difference, due to
    Selisih kurs penjabaran laporan keuangan           318                142     financial statement translation
    Jumlah                                      2.704.102          2.645.805    Total

    Bersih                                         17.090             17.862    Net

    Alokasi beban amortisasi adalah sebagai berikut:                The allocation of amortization expense follows:

                                                2024               2023

    Beban pokok penjualan (Catatan 26)             44.334             24.052    Cost of revenues (Note 26)
    Beban umum administrasi (Catatan 28)           13.645             26.442    General and administrative expenses (Note 28)

    Jumlah                                         57.979             50.494    Total



13. Aset Tidak Lancar Lainnya                                 13. Other Non-current Assets

                                               2024               2023

    Biaya dibayar di muka                                                       Prepaid expense
       Penggarapan lahan                       25.676.953         27.404.778      Land exploitation
    Uang jaminan                                                                Guarantee deposits
       Jasa penambangan                         2.538.361          4.062.992      Mining services
       Kerusakan lahan (Catatan 37)             1.472.590          1.543.851      Land damage (Note 37)
       Reklamasi (Catatan 37)                     913.131            716.788      Reclamation (Note 37)
       Pengelolaan jalan (Catatan 37)             761.044            149.196      Road maintenance (Note 37)
       Sewa gedung, kendaraan dan                                                 Building, vehicle, and heavy
          alat berat (Catatan 35)                 247.271            405.913         equipment rental (Note 35)
       Lain-lain                                3.788.911          3.881.653      Others
    Uang muka                                                                   Advances
       Kompensasi tanah                           484.463            515.641      Land compensation
       Pembelian aset tetap                       157.107            157.107      Purchase of property and equipment
    Taksiran tagihan pajak (Catatan 33)        24.907.787         11.776.892    Estimated claims for tax refund (Note 33)
    Lain-lain (Catatan 35)                      2.195.148          1.467.955    Others (Note 35)

    Jumlah                                     63.142.766         52.082.766    Total




                                                         - 67 -
Page 225
PT GOLDEN ENERGY MINES Tbk                                                                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                  unless Otherwise Stated)


14. Utang Bank                                                                                           14. Bank Loans
                                                                                                                                             Jumlah
                                                                                                                                          Pembayaran
                                                    Jumlah Maksimum Fasilitas Pinjaman/                                                   Selama 2024/
                                                       Maximum Credit Facilities Limit             Saldo Terutang/Outstanding Balances     Repayment
                                                       2024                     2023                    2024                 2023        amounts in 2024

    Jangka Pendek                                                                                                                                          Short-term
    RCI                                                                                                                                                    RCI
    PT Bank Danamon Indonesia Tbk                                                                                                                          PT Bank Danamon Indonesia Tbk
    (Bank Danamon)                                                                                                                                         (Bank Danamon)
       Omnibus Trade Non                                                                                                                                      Omnibus Trade Non
          Cash Backed                                     5.000.000                   5.000.000                  -           3.324.543         4.459.673         Cash Backed
    PT Bank Mandiri (Persero) Tbk                                                                                                                          PT Bank Mandiri (Persero) Tbk
    (Bank Mandiri)                                                                                                                                         (Bank Mandiri)
       Tranche B - Term loan revolving                  110.000.000                           -          1.113.724                   -        12.020.891      Tranche B - Revolving term loan
    BSL                                                                                                                                                    BSL
    Bank Mandiri                                                                                                                                           Bank Mandiri
       Kredit Modal Kerja *)                       150.000.000.000              150.000.000.000                  -                   -         1.197.963      Working Capital Loan *)
    PT Bank Rakyat Indonesia (Persero) Tbk                                                                                                                 PT Bank Rakyat Indonesia (Persero) Tbk
    (Bank BRI)                                                                                                                                             (Bank BRI)
       Kredit Modal Kerja *)                       225.000.000.000              225.000.000.000          3.915.790           8.290.672        26.497.779      Working Capital Loan *)
    BORNEO                                                                                                                                                 BORNEO
    Bank BRI                                                                                                                                               Bank BRI
       Kredit Modal Kerja *)                      2.200.000.000.000        2.200.000.000.000            74.004.018          49.928.062      209.681.704       Working Capital Loan *)
    Bank Mandiri                                                                                                                                           Bank Mandiri
       Tranche B - Term loan revolving                  110.000.000              110.000.000          105.000.000          110.000.000      315.000.000       Tranche B - Revolving term loan
       Kredit Modal Kerja *)                      2.050.000.000.000        2.050.000.000.000              847.992           41.417.251      166.626.557       Working Capital Loan *)
    PT Bank Negara Indonesia (Persero) Tbk                                                                                                                 PT Bank Negara Indonesia (Persero) Tbk
    (Bank BNI)                                                                                                                                             (Bank BNI)
       Kredit Modal Kerja *)                      1.950.000.000.000        1.950.000.000.000            57.178.645          38.826.039        70.403.343      Working Capital Loan *)
    Lembaga Pembiayaan Ekspor                                                                                                                              Lembaga Pembiayaan Ekspor
       Indonesia (Indonesia Eximbank)                                                                                                                         Indonesia (Indonesia Eximbank)
       Kredit Modal Kerja                                 5.000.000                           -                  -                   -                 -      Working Capital Loan
    Jumlah jangka pendek                                                                              242.060.169          251.786.567                     Total short-term

    Jangka panjang yang
      akan jatuh tempo dalam
      waktu satu tahun                                                                                                                                     Current portion of long-term
    BORNEO                                                                                                                                                 BORNEO
    Bank Mandiri                                                                                                                                             Bank Mandiri
      Tranche A - Term loan                              50.000.000                           -         10.000.000                   -        10.000.000     Tranche A - Term loan
    Jumlah                                                                                              10.000.000                   -                     Sub-total


    Jangka panjang-setelah dikurangi
       bagian yang akan jatuh tempo                                                                                                                        Long term-net of
      dalam waktu satu tahun                                                                                                                                 current portion
    BORNEO                                                                                                                                                 BORNEO
    Bank Mandiri                                                                                                                                             Bank Mandiri
      Tranche A - Term loan                              50.000.000                           -         30.000.000                   -                 -     Tranche A - Term loan

    Jumlah                                                                                              30.000.000                   -                     Sub-total

    Jumlah jangka panjang                                                                               40.000.000                   -                     Total long-term

    Jumlah utang bank                                                                                 282.060.169          251.786.567                     Total bank loans

    *)
         Fasilitas pinjaman dalam mata uang Rupiah/ Loan facilities in Rupiah


   Rincian tanggal jatuh tempo dan jaminan                                                                      The details of maturities and collaterals related with
   sehubungan dengan fasilitas utang bank pada                                                                  bank loans as of December 31, 2024 are as follows:
   tanggal 31 Desember 2024 adalah sebagai berikut:

         Nama Bank/                                                                    Jatuh Tempo/
         Bank Name                             Jenis/Type                                Maturities                                            Jaminan/Collateral

   Bank Danamon                          Omnibus Trade Non                            17 Maret 2025/                  a.   Fidusia piutang dan/atau persediaan dengan nilai
                                           Cash Backed                                March 17, 2025                       penjamin sekurang-kurangnya US$ 11.000.000, yang
                                                                                                                           akan diikat dalam bentuk dan isi yang disetujui oleh
                                                                                                                           Bank/Fiduciary receivables and/or inventory with a
                                                                                                                           guarantor value of at least US$ 11,000,000, which will be
                                                                                                                           bound in the form and content approved by the Bank;
                                                                                                                      b.   Margin deposit (trade cash margin, current account, time
                                                                                                                           deposit) sebesar 35% dari jumlah Fasilitas Omnibus Trade
                                                                                                                           Non Cash Backed, maksimum US$ 5.000.000 yang akan
                                                                                                                           diikat dalam bentuk dan isi yang disetujui oleh Bank/
                                                                                                                           Margin deposit (trade cash margin, current account, time
                                                                                                                           deposit) at 35% of the amount of Omnibus Trade Non
                                                                                                                           Cash Backed facility, maximum US$ 5,000,000 to be
                                                                                                                           bound in the form and contents approved by the Bank.




                                                                                                  - 68 -
Page 226
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)

     Nama Bank/                                   Jatuh Tempo/
     Bank Name              Jenis/Type              Maturities                                Jaminan/Collateral

   Bank BRI             Kredit Modal Kerja/    25 September 2025         Blokir saldo simpanan dalam mata uang Dolar Amerika Serikat
                       Working Capital Loan      dan pembayaran          yang mengcover setiap pencairan dalam mata uang Rupiah/
                                              pinjaman maksimal 3        Block saving balance in USD which covers every loan
                                              bulan sejak pencairan      drawdown in Rupiah.
                                                 kredit dilakukan/
                                               September 25, 2025
                                                and maximum loan
                                               repayment 3 months
                                               after drawdown date

   Bank BNI             Kredit Modal Kerja/     23 November 2025         Blokir saldo simpanan dalam mata uang Dolar Amerika Serikat
                       Working Capital Loan      dan pembayaran          yang mengcover setiap pencairan dalam mata uang Rupiah/
                                              pinjaman maksimal 3        Block saving balance in USD which covers every loan
                                              bulan sejak pencairan      drawdown in Rupiah.
                                                 kredit dilakukan/
                                               November 23, 2025
                                                and maximum loan
                                               repayment 3 months
                                               after drawdown date

   Bank Mandiri         Kredit Modal Kerja/   19 Oktober 2025 dan        Blokir saldo simpanan dalam mata uang Dolar Amerika Serikat
                       Working Capital Loan    pelunasan pinjaman        yang mengcover setiap pencairan dalam mata uang Rupiah/
                                                 maksimal 3 bulan        Block saving balance in USD which covers every loan
                                              sejak pencairan kredit     drawdown in Rupiah.
                                                     dilakukan/
                                              October 19, 2025 and
                                                  maximum loan
                                               repayment 3 months
                                               after drawdown date

   Bank Mandiri          Tranche A - Term      23 Desember 2028/        a.   Gadai atas 99,0701% saham BORNEO (yang dimiliki oleh
                              Loan             December 23, 2028             RCI)/Pledge of 99.0701% of BORNEO shares (owned by
                                                                             RCI);
                          Tranche B –               1 Tahun/            b.   Gadai atas 99,01% saham RCI (yang dimiliki oleh
                       Revolving Term Loan           1 Year                  GEMS)/Pledge of 99.01% of RCI shares (owned by
                                                                             GEMS);
                                                                        c.   Gadai atas 99,9998% saham KIM (yang dimiliki oleh
                                                                             GEMS)/Pledge of 99.9998% of KIM's shares (owned by
                                                                             GEMS);
                                                                        d.   Gadai 100% saham BSL (yang dimiliki oleh GEMS,
                                                                             UNSOCO, dan DSI)/Pledge of 100% of BSL’s shares
                                                                             (owned by GEMS, UNSOCO and DSI);
                                                                        e.   Tanah, bangunan, mesin dan peralatan atas nama
                                                                             BORNEO/Land, buildings, machinery and equipment and
                                                                             vehicles on behalf of BORNEO;
                                                                        f.   Tanah, bangunan, mesin dan peralatan atas nama KIM,
                                                                             TBBU, KCP, GEMS dan BNP/Land, buildings, machinery
                                                                             and equipment on behalf of KIM, TBBU, KCP, GEMS and
                                                                             BNP;
                                                                        g.   Gadai rekening atas nama Para Debitur di Bank (rekening
                                                                             yang ditujukan untuk penerimaan, operasional dan
                                                                             pembayaran kewajiban)/Pledge of accounts in the name
                                                                             of the Debtors in the Bank (accounts intended for the
                                                                             receipt, operation and payment of obligations);
                                                                        h.   Aset tetap, berupa mesin dan peralatan dari BSL/Fixed
                                                                             assets, in the form of machinery and equipment from BSL;
                                                                        i.   Jaminan fidusia atas klaim asuransi atas nama BORNEO,
                                                                             KIM dan BSL/Fiduciary guarantees on insurance claims on
                                                                             behalf of BORNEO, KIM and BSL;
                                                                        j.   Jaminan fidusia atas piutang atas nama BORNEO, KIM
                                                                             dan BSL/Fiduciary guarantees on BORNEO, KIM and
                                                                             BSL’s receivables.

   Lembaga              Kredit Modal Kerja/         1 Tahun/             Blokir saldo simpanan dalam mata uang Dolar Amerika Serikat
   Pembiayaan          Working Capital Loan          1Year               yang mengcover setiap pencairan dalam mata uang Rupiah/
   Ekspor Indonesia/                                                     Block saving balance in USD which covers every loan
   Indonesia                                                             drawdown in Rupiah
   Eximbank




                                                         - 69 -
Page 227
PT GOLDEN ENERGY MINES Tbk                                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                  unless Otherwise Stated)


   Kisaran tingkat suku bunga tahunan pada utang                                The range of annual interest rates of the long-term
   bank jangka panjang adalah sebagai berikut:                                  bank loans are as follows:

                                                           2024                 2023

    Bank Danamon                                                                               Bank Danamon
      Omnibus Trade Non Cash Backed                                                              Omnibus Trade Non Cash Backed
        (dalam dolar Amerika Serikat)                     5,50%                 5,50%              (In United States Dollar)
      Omnibus Trade Non Cash Backed                                                              Omnibus Trade Non Cash Backed
        (dalam Rupiah)                                   11% - 12%           11% - 12%             (in Rupiah)
    Bank BNI                                                                                   Bank BNI
      Kredit Modal Kerja                                  0,35%                0,35%             Working Capital Loan
    Bank BRI                                                                                   Bank BRI
      Kredit Modal Kerja                                  0,47%                0,47%             Working Capital Loan
    Bank Mandiri                                                                               Bank Mandiri
      Kredit Modal Kerja                                  0,40%             0,40% - 6,25%        Working Capital Loan
      Tranche A - Term Loan                               7,00%                 7,50%            Tranche A - Term Loan
      Tranche B - Term Loan Revolving                                                            Tranche B - Revolving Term Loan
        (dalam dolar Amerika Serikat)                     7,00%                 7,50%              (In United States Dollar)
      Tranche B - Term Loan Revolving                                                            Tranche B - Revolving Term Loan
        (dalam Rupiah)                                    8,25%                 9,00%              (in Rupiah)

   Beban bunga dan bunga pinjaman yang dibayarkan                               Interest expense and loan interest paid are as
   adalah sebagai berikut:                                                      follows:

                                                        2024                                2023
                                                           Beban bunga yang                    Beban bunga yang
                                          Beban bunga/        dibayarkan/     Beban bunga/        dibayarkan/
                                        Interest expense Loan interest paid Interest expense Loan interest paid

   Bank Danamon                                                                                                   Bank Danamon
   Omnibus Trade Non Cash Backed                58.437             80.895            246.999          268.816     Omnibus Trade Non Cash Backed
   Bank Mandiri                                                                                                   Bank Mandiri
   Kredit Modal Kerja                           58.946             78.562           501.104           433.201     Working Capital Loan
   Tranche A - Term Loan                     3.118.392          3.048.837                 -                 -     Tranche A - Term Loan
   Tranche B - Term Loan Revolving             544.485            563.014           510.417           447.917     Tranche B - Revolving Term Loan
   Pinjaman Transaksi Khusus I                       -                  -           500.236           482.168     Loan Special Transaction I
   Pinjaman Transaksi Khusus II                      -                  -           760.444           736.750     Loan Special Transaction II
   Pinjaman Berjangka I                              -                  -           535.538           518.403     Term Loan I
   Pinjaman Berjangka II                             -                  -         1.315.789         1.137.456     Term Loan II
   Bank BRI                                                                                                       Bank BRI
   Kredit Modal Kerja                          149.116            147.231             89.968           84.393     Working Capital Loan
   Bank BNI                                                                                                       Bank BNI
   Kredit Modal Kerja                           48.978             39.335              4.870                -     Working Capital Loan

   Jumlah                                    3.978.354          3.957.874         4.465.365         4.109.104     Total


   Syarat Pinjaman                                                              Loan Covenants

   Bank Danamon                                                                 Bank Danamon

   Sesuai dengan ketentuan dalam perjanjian, para                               In accordance with the agreement, the debtors are
   peminjam diharuskan untuk menjaga beberapa                                   required to maintain certain financial ratios:
   rasio keuangan:

   a.   Rasio bunga minimal 2x, dan                                             a.      Interest coverage ratio minimum 2x, and
   b.   Rasio pendapatan operasi bersih terhadap                                b.      Debt service coverage ratio minimum of 1.2x.
        utang minimal 1,2x.

   Berdasarkan perjanjian fasilitas kredit, Perusahaan                          Based on the credit facility agreement, the
   harus mendapatkan persetujuan tertulis dari bank                             Company must obtain written approval from the
   terkait kondisi berikut:                                                     bank regarding the following conditions:

   a.   Mengambil langkah untuk atau membubarkan                                a.      Take steps for or liquidate the Company;
        Perusahaan;




                                                                   - 70 -
Page 228
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   b.   Menjual atau dengan cara lain mengalihkan hak             b.     Selling or in other ways transferring rights or
        atau    menyewakan      atau     menyerahkan                     leasing or giving up the use of all or most of the
        pemakaian seluruh atau sebagian besar                            assets or assets of the Company, both
        kekayaan atau aset Perusahaan, baik barang-                      moveable and immovable property owned by
        barang bergerak maupun tidak bergerak milik                      the Company, except for the purpose of running
        Perusahaan,     kecuali      dalam     rangka                    of the Company’s daily business;
        menjalankan usaha Perusahaan sehari-hari;

   c.   Mengadakan perubahan dari sifat dan kegiatan              c.     Making amendment to the nature and activities
        usaha Perusahaan seperti yang sedang                             of the Company’s business as currently being
        dijalankan saat ini; dan                                         carried out; and

   d.   Membayar       atau    membayar       kembali             d.     Pay or repay any loans/claims/receivables that
        pinjaman/tagihan/piutang-piutang       berupa                    are now and/or in the future will be provided by
        apapun juga yang sekarang dan/atau                               the Company’s shareholders in the form of
        dikemudian hari akan diberikan oleh para                         principal, interest and other amounts of fund
        Pemegang Saham Perusahaan baik berupa                            that must be paid.
        jumlah pokok, bunga dan lain-lain jumlah uang
        yang wajib dibayar.

   Berdasarkan perjanjian fasilitas kredit, Perusahaan            Based on the credit facility agreement, the
   harus melakukan pemberitahuan terlebih dahulu                  Company must give prior notification to the bank
   kepada bank terkait kondisi berikut:                           regarding the following conditions:

   a.   Menjaminkan atau mengagunkan dengan cara                  a.     To pledge or used as collateral in any way
        bagaimanapun kekayaan Perusahaan kepada                          regarding to the Company's assets to other
        orang atau pihak lain, kecuali menjaminkan                       people or parties, except providing guarantee
        atau mengagunkan kekayaan kepada bank;                           or collateral assets to the bank;

   b.   Menjamin langsung maupun tidak langsung                   b.     To pledge directly or indirectly to other third
        pihak ketiga lainnya, kecuali melakukan                          parties, except for endorsement of tradable
        endorsemen atas surat-surat yang dapat                           documents for the purpose of payment or
        diperdagangkan untuk keperluan pembayaran                        collection of other transactions commonly
        atau penagihan transaksi-transaksi lain yang                     carried out in business activity;
        lazim dilakukan dalam menjalankan usaha;

   c.   Menimbulkan suatu kewajiban atau hutang                   c.     To incur a new obligation or debt or gives or
        baru atau memberikan atau mengizinkan                            allows for an expense or collateral for existing
        adanya suatu beban atau kepentingan jaminan                      or future assets, issue a guarantee or collateral
        atas aset yang telah atau akan ada,                              for the other party’s debt;
        menerbitkan guarantee atau penjaminan atas
        hutang pihak lain;

   d.   Mengubah     Anggaran   Dasar     (termasuk               d.     To amend the Articles of Association (including
        kewenangan Direksi, struktur modal, korum                        the authority of the Board of Directors, capital
        rapat atau bidang usaha) atau mengizinkan                        structure, meeting quorum or business
        adanya perubahan susunan Direksi dan Dewan                       objectives) or allow changes in the composition
        Komisaris    ataupun   pemegang       saham                      of the Board of Directors and the Board of
        Perusahaan; dan                                                  Commissioners         or   the       Company’s
                                                                         shareholders; and

   e.   Melakukan atau mengizinkan terjadinya merger              e.     To conduct or allow a merger or consolidation,
        atau konsolidasi, akuisisi atau mengambil alih                   acquisition or take over all or most of the assets
        seluruh atau sebagian besar dari harta                           or shares of another company, as long as the
        kekayaan atau saham perusahaan lain,                             Company is a survival entity.
        sepanjang Perusahaan sebagai survival entity.

   Pada tanggal 31 Desember 2024 dan 2023, para                   As of December 31, 2024 and 2023, the debtors are
   peminjam telah memenuhi persyaratan dan                        in compliance with the related terms and conditions.
   ketentuan tersebut.



                                                         - 71 -
Page 229
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   Bank Mandiri                                                   Bank Mandiri

   Sesuai dengan ketentuan dalam perjanjian fasilitas             In accordance with the credit facility agreement, the
   kredit, para peminjam diharuskan untuk memenuhi                debtors are required to comply with certain terms
   beberapa persyaratan serta ketentuan mengenai                  and conditions relating to its Articles of Association,
   Anggaran Dasar, kegiatan usaha, aksi korporasi,                the nature of the business, corporate actions,
   kegiatan pembiayaan, dan lainnya. Para peminjam                financing activities and other matters. The debtors
   juga diharuskan untuk menjaga beberapa rasio                   also need to maintain certain financial ratios:
   keuangan:

   a.   Rasio total utang terhadap ekuitas maksimal               a.     Debt to equity ratio maximum of 150%, and
        150%, dan
   b.   Rasio pendapatan operasi bersih terhadap                  b.     Debt service coverage ratio (DSCR) minimum
        utang (DSCR) minimal 150%. DSCR dihitung                         of 150%. DSCR is calculated based on the
        atas dasar kondisi keuangan Last Twelve                          financial condition of the Last Twelve Months
        Months (“LTM”).                                                  (“LTM”).

   Berdasarkan perjanjian fasilitas kredit, Perusahaan            Based on the credit facility agreement, the
   harus mendapatkan persetujuan tertulis dari bank               Company must obtain written approval from the
   terkait kondisi berikut:                                       bank regarding the following conditions:

   a.   Menjaminkan aset bergerak maupun tidak                    a.     Pledge existing or non-existing moveable
        bergerak yang telah ada maupun yang akan                         assets of owned by each debtor, except to
        ada milik masing-masing Debitur kecuali untuk                    pledge up to 10% of the Company’s
        menjaminkan sampai dengan 10% dari ekuitas                       consolidated equity value for all transactions in
        Perusahaan konsolidasi untuk keseluruhan                         one financial year;
        transaksi dalam satu tahun buku;

   b.   Memperoleh fasilitas kredit atau pinjaman lain            b.     Obtain credit facilities or other loans from banks
        dari bank atau lembaga keuangan lain, kecuali:                   or other financial institutions, unless:

        1)   Fasilitas kredit atau pinjaman dari bank                    1)   The credit or loan facility from the bank is
             tersebut tidak dijamin dengan aset dari                          not guaranteed with the assets of a Debtor.
             suatu Debitur.
        2)   Fasilitas leasing dengan nilai yang tidak                   2)   Leasing facility with an immaterial value,
             material, sepanjang dampak dari fasilitas                        as long as the impact of the credit facility
             kredit tersebut tidak melanggar financial                        does not violate the financial covenant in
             covenant di bank.                                                the bank.

   c.   Terkait dengan ketentuan b di atas, apabila               c.     Related to the point b above, if a Debtor get an
        suatu Debitur mendapatkan penawaran untuk                        offer for the same facility from a bank or other
        fasilitas yang sama dari bank atau lembaga                       financial institution with terms and conditions
        keuangan yang lain dengan syarat dan                             that are better than those provided at the bank,
        ketentuan yang lebih baik dengan yang                            then the Debtor will ask the bank to provide
        diberikan oleh bank, maka Debitur tersebut                       facilities with the same terms and conditions as
        akan meminta bank untuk memberikan fasilitas                     the terms and conditions obtained by the
        dengan syarat dan ketentuan yang sama                            Debtor from the bank or other financial
        dengan syarat dan ketentuan yang diperoleh                       institution;
        Debitur tersebut dari bank atau lembaga
        keuangan lain tersebut;

   d.   Mengajukan permohonan dan/atau menyeluruh                 d.     Submit an application and/or thoroughly the
        pihak lain mengajukan permohonan kepada                          other party submits an application to the Court
        Pengadilan untuk dinyatakan pailit atau                          to be declared bankrupt or request a delay in
        meminta penundaan pembayaran hutang                              loan payment to the authorized institution;
        kepada instansi yang berwenang;




                                                         - 72 -
Page 230
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


   e.   Membagikan     dividen    BORNEO/KIM/BSL/                  e.      Distribute        BORNEO/KIM/BSL/RCI/KMS
        RCI/KMS     kepada       pemegang    saham                         dividends to BORNEO/KIM/BSL/RCI/KMS
        BORNEO/KIM/BSL/RCI/KMS               kecuali                       shareholders unless the distribution of
        pembagian     dividen     BORNEO/KIM/BSL/                          BORNEO/KIM/BSL/RCI/KMS dividends does
        RCI/KMS tersebut tidak mengakibatkan                               not result in financial covenant violations by
        pelanggaran    financial    covenant   oleh                        BORNEO/KIM/BSL/RCI/KMS;
        BORNEO/KIM/BSL/RCI/KMS;

   f.   Melakukan investasi atau penyertaan (akuisisi)             f.      Make investments or acquisitions in other
        pada perusahaan lain, kecuali:                                     companies, except:
        1) Seluruh financial covenant terpenuhi baik                       1) All financial covenants are fulfilled both
            sebelum maupun setelah dilakukannya                               before and after the investment or
            investasi atau penyertaan (akuisisi);                             acquisition;
        2) Investasi atau penyertaan (akuisisi) berada                     2) Investment or acquisition is in the field of
            pada bidang usaha pertambangan                                    coal mining business or related to mining;
            batubara       atau    terkait      dengan                        and
            pertambangan; dan
        3) Nilai akuisisi tidak melebihi 50% ekuitas                       3)   The acquisition value does not exceed
            Perusahaan.                                                         50% of the Company’s equity.

   g.   Menurunkan modal dasar atau modal disetor.                 g.      Reduce the authorized capital or paid up
                                                                           capital.

   Pada tanggal 31 Desember 2024 dan 2023, para                    As of December 31, 2024 and 2023, the debtors are
   peminjam telah memenuhi persyaratan dan                         in compliance with the related terms and conditions.
   ketentuan tersebut.


15. Utang Usaha                                                 15. Trade Payables

   Akun ini merupakan utang Grup kepada pemasok                    This account consists of the Group’s payables to
   dan kontraktor sehubungan dengan kegiatan                       suppliers and contractors in relation to Group’s
   operasional Grup, dengan rincian sebagai berikut:               operations, with details as follows:

   a.   Berdasarkan Pemasok/Kontraktor                             a.      By Supplier/Contractor

                                                   2024                  2023

        Pihak berelasi (Catatan 35)                55.633.959            51.792.492   Related parties (Note 35)

        Pihak ketiga                                                                  Third parties
           PT Putra Perkasa Abadi                  66.433.710           102.652.567     PT Putra Perkasa Abadi
           PT Dian Ciptamas Agung                  17.411.580            25.630.287     PT Dian Ciptamas Agung
           PT Energi Sinar Tambang                 15.573.745            11.331.614     PT Energi Sinar Tambang
           PT Bahari Karya Makmur                   8.082.002                     -     PT Bahari Karya Makmur
           PT Karya Halim Sampoerna                 6.231.391                     -     PT Karya Halim Sampoerna
           PT Bangun Arta Hutama                    5.601.335                     -     PT Bangun Arta Hutama
           PT Toudano Mandiri Abadi                 5.536.993             7.217.826     PT Toudano Mandiri Abadi
           PT Saptaindra Sejati                             -            28.271.340     PT Saptaindra Sejati
           PT Omega Minerba Gan                             -            12.467.764     PT Omega Minerba Gan
           Lain-lain (masing-masing                                                     Others
             dibawah US$ 5.000.000)                67.488.913            98.317.930        (each below US$ 5,000,000)
        Jumlah pihak ketiga                       192.359.669           285.889.328     Total third parties

        Jumlah                                   247.993.628            337.681.820     Total




                                                         - 73 -
Page 231
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   b.   Berdasarkan Umur                                          b.     By Age

        Analisa umur utang usaha dihitung dari tanggal                   The aging analysis of trade payables from the
        faktur adalah sebagai berikut:                                   date of invoice follows:

                                                 2024               2023

        Belum jatuh tempo                     168.832.067         210.567.508     Not yet due
        Jatuh tempo:                                                              Due date:
          Kurang dari 1 bulan                   60.654.297         95.612.355       Less than 1 month
          1 bulan - 2 bulan                      4.179.992          5.963.512       1 month - 2 months
          2 bulan - 3 bulan                      3.729.958          2.722.692       2 months - 3 months
          Lebih dari 3 bulan                    10.597.314         22.815.753       More than 3 months

        Jumlah                                247.993.628         337.681.820     Total


   c.   Berdasarkan Mata Uang                                     c.     By Currency

                                                 2024               2023

        Sewa                                      418.697             374.318     Rental
        Rupiah (Catatan 36)                   187.835.669         252.012.618     Rupiah (Note 36)
        Dolar Amerika Serikat                  60.157.959          85.669.202     United States Dollar

        Jumlah                                247.993.628         337.681.820     Total


16. Beban Akrual                                              16. Accrued Expenses

                                                 2024               2023

    Pemeliharaan dan perbaikan (Catatan 35)      9.271.245          9.605.013     Repairs and maintenance (Note 35)
    Asuransi                                     1.482.090          2.494.249     Insurance
    Royalti (Catatan 37)                         1.243.408            840.870     Royalty (Note 37)
    Jasa profesional                               821.677            630.168     Professional fee
    Sewa                                           418.697            374.318     Rental
    Bunga                                           59.333            137.850     Interest
    Lain-lain                                    3.049.348          2.355.866     Others

    Jumlah                                      16.345.798         16.438.334     Total


17. Aset Hak Guna - Bersih dan Utang Sewa                     17. Right-of-Use Assets - Net and Lease Liabilities

   Grup mempunyai perjanjian sewa untuk berbagai                  The Group has lease contracts for various items of
   item sewa gedung dan kendaraan yang digunakan                  properties and vehicles used in operations. Lease
   untuk operasional. Sewa gedung dan kendaraan                   of properties and vehicles generally have lease term
   mempunyai jangka waktu antara 3 sampai 5 tahun.                of 3 until 5 years.




                                                         - 74 -
Page 232
PT GOLDEN ENERGY MINES Tbk                                                              PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                 AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                 As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                        (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                        unless Otherwise Stated)


   Berikut ini adalah nilai dari aset hak guna sewa dan                  Below are the carrying amount of right-of-use
   perubahannya di periode berjalan:                                     assets recognized and the movements during
                                                                         the year:
                                                               2024
                                            Properti/        Kendaraan/          Jumlah/
                                           Properties         Vehicles            Total

    Biaya Perolehan                                                                            Cost
    Saldo awal                                5.352.020         4.394.847         9.746.867    Beginning balance
    Penambahan                                  591.779            83.069           674.848    Addition
    Selisih kurs                               (176.230)           (5.317)         (181.547)   Foreign exchange

    Jumlah                                    5.767.569         4.472.599        10.240.168    Total

    Akumulasi penyusutan                                                                       Accumulated depreciation
    Saldo awal                                3.318.175         3.865.395         7.183.570    Beginning balance
    Beban (Catatan 28)                          695.359           201.981           897.340    Charge (Note 28)
    Selisih kurs                                (40.523)          (35.446)          (75.969)   Foreign exchange

    Jumlah                                    3.973.011         4.031.930         8.004.941    Total

    Nilai buku bersih                         1.794.558              440.669      2.235.227    Net book value


                                                               2023
                                            Properti/        Kendaraan/          Jumlah/
                                           Properties         Vehicles            Total

    Biaya Perolehan                                                                            Cost
    Saldo awal                                4.893.335         4.084.742         8.978.077    Beginning balance
    Penambahan                                  789.771           395.802         1.185.573    Addition
    Pengurangan                                (356.744)                -          (356.744)   Deduction
    Selisih kurs                                 25.658           (85.697)          (60.039)   Foreign exchange

    Jumlah                                    5.352.020         4.394.847         9.746.867    Total

    Akumulasi penyusutan                                                                       Accumulated depreciation
    Saldo awal                                2.595.500         3.141.707         5.737.207    Beginning balance
    Beban (Catatan 28)                          836.917           691.967         1.528.884    Charge (Note 28)
    Pengurangan                                (118.915)                -          (118.915)   Deduction
    Selisih kurs                                  4.673            31.721            36.394    Foreign exchange

    Jumlah                                    3.318.175         3.865.395         7.183.570    Total

    Nilai buku bersih                         2.033.845              529.452      2.563.297    Net book value


   Berikut ini adalah nilai tercatat liabilitas sewa guna                Set out below are the carrying amount of lease
   usaha dan perubahan selama periode berjalan:                          liabilities and movements during the period:

                                                              2024
                                           Properti/        Kendaraan/           Total/
                                          Properties         Vehicles            Total/

    Saldo awal                                686.605            649.648          1.336.253    Beginning balance
    Penambahan                                      -             (1.192)            (1.192)   Addition
    Penambahan bunga                           23.664             26.023             49.687    Accretion of interest
    Pembayaran                               (877.790)          (225.629)        (1.103.419)   Payment
    Pengurangan                                     -                  -                  -    Deduction
    Selisih kurs                              286.468               (940)           285.528    Foreign exchange
    Jumlah                                    118.947            447.910           566.857     Total

    Utang sewa jangka panjang yang
      akan jatuh tempo dalam waktu                                                             Current portion of lease
      satu tahun                                12.172           228.084           240.256       liabilities
    Utang sewa jangka panjang - setelah
      dikurangi bagian yang akan
      jatuh tempo dalam waktu                                                                  Long-term lease liabilities -
      satu tahun                              106.775            219.826           326.601       net of current portion

    Jumlah                                    118.947            447.910           566.857     Total




                                                            - 75 -
Page 233
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


                                                            2023
                                           Properti/      Kendaraan/         Total/
                                          Properties       Vehicles          Total/

    Saldo awal                              1.574.716          993.966        2.568.682    Beginning balance
    Penambahan                                      -          395.802          395.802    Addition
    Penambahan bunga                           95.878           62.020          157.898    Accretion of interest
    Pembayaran                             (1.031.733)        (794.323)      (1.826.056)   Payment
    Pengurangan                              (173.792)               -         (173.792)   Deduction
    Selisih kurs                              221.536           (7.817)         213.719    Foreign exchange
    Jumlah                                   686.605           649.648       1.336.253     Total

    Utang sewa jangka panjang yang
      akan jatuh tempo dalam waktu                                                         Current portion of lease
      satu tahun                             598.496           308.576         907.072       liabilities
    Utang sewa jangka panjang - setelah
      dikurangi bagian yang akan
      jatuh tempo dalam waktu                                                              Long-term lease liabilities -
      satu tahun                               88.109          341.072         429.181       net of current portion

    Jumlah                                   686.605           649.648       1.336.253     Total



18. Pengukuran Nilai Wajar                                     18. Fair Value Measurement

   Instrumen keuangan yang disajikan di dalam                       Financial instruments presented in the consolidated
   laporan posisi keuangan konsolidasian dicatat                    statement of financial position are reasonable
   mendekati nilai wajarnya atau karena nilai wajarnya              approximation of fair values or their fair values
   tidak dapat diukur secara handal. Penjelasan lebih               cannot be reliably measured. Further explanations
   lanjut diberikan pada paragraf-paragraf berikut.                 are provided in the following paragraphs.

   Instrumen keuangan dengan nilai tercatat yang                    Financial instruments with carrying amounts
   mendekati nilai wajarnya                                         that approximate their fair values

   Manajemen menetapkan bahwa nilai tercatat                        Management has determined that the carrying
   (berdasarkan jumlah nosional) kas dan setara kas,                amounts (based on notional amounts) of cash and
   piutang usaha dan piutang lain-lain, utang usaha                 cash equivalents, trade and other receivables, trade
   dan utang lain-lain, utang bank jangka pendek dan                and other payables, short-term bank loans and
   beban akrual mendekati sebesar nilai wajarnya                    accrued expenses reasonably approximate their fair
   karena instrumen keuangan tersebut sebagian                      values because they are mostly short-term in
   besar berjangka pendek.                                          nature.

   Nilai tercatat dana yang dibatasi pencairannya telah             The fair value of restricted funds approximates the
   mendekati estimasi nilai wajarnya.                               estimated fair market values.

   Nilai tercatat dari utang sewa dan utang bank jangka             The carrying values of lease liabilities and long-term
   panjang mendekati nilai wajarnya disebabkan oleh                 bank loan approximate their fair values due to the
   pemakaian suku bunga mengambang atas                             floating rate interests on these instruments which
   instrumen tersebut, dimana tingkat bunga tersebut                are subject to adjustments by the creditors.
   selalu disesuaikan oleh kreditur.




                                                          - 76 -
Page 234
PT GOLDEN ENERGY MINES Tbk                                                                 PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                    AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                      Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                    As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                           (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                           unless Otherwise Stated)


   Tabel berikut menyajikan nilai tercatat dan estimasi                    The following table sets forth the carrying values
   nilai wajar atas aset dan liabilitas keuangan Grup:                     and estimated fair values of the Group’s financial
                                                                           assets and liabilities:

                                                    2024                                2023
                                                            Estimasi                            Estimasi
                                                           Nilai Wajar/                        Nilai Wajar/
                                      Nilai Tercatat/      Estimated      Nilai Tercatat/      Estimated
                                      Carrying Value       Fair Value     Carrying Value       Fair Value

    Aset Keuangan                                                                                             Financial Assets
    Kas dan setara kas                   326.929.041       326.929.041     318.495.046         318.495.046    Cash and cash equivalents
    Piutang usaha                        202.692.042       202.692.042     291.907.188         291.907.188    Trade receivables
    Piutang lain-lain                        671.459           671.459         877.488             877.488    Other receivables
    Dana yang dibatasi pencairannya       24.660.166        24.660.166      20.623.105          20.623.105    Restricted funds
    Aset tidak lancar lainnya              9.721.308         9.721.308      10.760.393          10.760.393    Other non-current assets

    Jumlah Aset Keuangan                 564.674.016       564.674.016     642.663.220         642.663.220    Total Financial Assets

    Liabilitas Keuangan                                                                                       Financial Liabilities
    Utang bank                           282.060.169       282.060.169     251.786.567         251.786.567    Bank loans
    Utang usaha                          247.993.628       247.993.628     337.681.820         337.681.820    Trade payables
    Utang lain-lain                          389.496           389.496         220.552             220.552    Other payables
    Beban akrual                          16.345.798        16.345.798      16.438.334          16.438.334    Accrued expenses
    Utang sewa                               566.857           566.857       1.336.253           1.336.253    Lease liabilities

    Jumlah Liabilitas Keuangan           547.355.948       547.355.948     607.463.526         607.463.526    Total Financial Liabilities

   Hierarki Nilai Wajar                                                    Fair Value Hierarchy

   Aset dan liabilitas keuangan diklasifikasikan secara                    Financial assets and liabilities are classified in their
   keseluruhan berdasarkan tingkat terendah dari                           entirely based on the lowest level of input that is
   masukan (input) yang signifikan terhadap                                significant to the fair value measurements. The
   pengukuran nilai wajar. Penilaian dampak signifikan                     assessment of the significance of a particular input
   dari suatu input tertentu terhadap pengukuran nilai                     to the fair value measurements requires judgement,
   wajar membutuhkan pertimbangan dan dapat                                and may affect the valuation of the assets and
   memengaruhi penilaian dari aset dan liabilitas yang                     liabilities being measured and their placement
   diukur dan penempatannya dalam hierarki nilai                           within the fair value hierarchy.
   wajar.

   Bukti terbaik dari nilai wajar adalah harga yang                        The best evidence of fair value is quoted prices in
   dikuotasikan (quoted prices) dalam sebuah pasar                         an active market. If the market for a financial
   yang aktif. Jika pasar untuk sebuah instrumen                           instrument is not active, an entity establishes fair
   keuangan tidak aktif, entitas menetapkan nilai wajar                    value by using a valuation technique. The objective
   dengan menggunakan metode penilaian. Tujuan                             of using a valuation technique is to establish what
   dari penggunaan metode penilaian adalah untuk                           the transaction price would have been on the
   menetapkan harga transaksi yang terbentuk pada                          measurement date in an arm’s length exchange
   tanggal pengukuran dalam sebuah transaksi                               motivated by normal business considerations.
   pertukaran yang wajar dengan pertimbangan bisnis
   normal.

   Metode penilaian termasuk penggunaan harga                              Valuation techniques include using recent arm’s
   dalam transaksi pasar yang wajar (arm’s length)                         length      market     transactions    between
   terakhir antara pihak-pihak yang memahami dan                           knowledgeable, willing parties, if available,
   berkeinginan, jika tersedia, referensi kepada nilai                     reference to the current fair value of another
   wajar terkini dari instrumen lain yang secara                           instrument that is substantially the same,
   substansial sama, analisa arus kas yang                                 discounted cash flow analysis.
   didiskontokan.




                                                                - 77 -
Page 235
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


   Jika terdapat metode penilaian yang biasa                       If there is a valuation technique commonly used by
   digunakan oleh para peserta pasar untuk                         market participants to price the instrument and that
   menentukan harga dari instrumen dan metode                      technique has been demonstrated to provide
   tersebut telah didemonstrasikan untuk menyediakan               reliable estimates of prices obtained in actual
   estimasi yang andal atas harga yang diperoleh dari              market transactions, the entity uses that technique.
   transaksi pasar yang aktual, entitas harus                      The chosen valuation technique makes maximum
   menggunakan metode tersebut. Metode penilaian                   use of market inputs and relies as little as possible
   yang dipilih membuat penggunaan maksimum dari                   on entity-specific inputs. It incorporates all factors
   input pasar dan bergantung sedikit mungkin atas                 that market participants would consider in setting a
   input yang spesifik untuk entitas (entity-specific              price and is consistent with accepted economic
   input). Metode tersebut memperhitungkan semua                   methodologies for pricing financial instruments.
   faktor yang akan dipertimbangkan oleh peserta                   Periodically, the Group calibrates the valuation
   pasar dalam menentukan sebuah harga dan selaras                 technique and tests it for validity using prices from
   dengan metode ekonomis untuk penilaian sebuah                   any observable current market transactions in the
   instrumen keuangan. Secara berkala, Grup                        same instrument (i.e., without modification or
   menelaah metode penilaian dan mengujinya untuk                  repackaging) or based on any available observable
   validitas dengan menggunakan harga dari transaksi               market data.
   pasar terkini yang dapat diobservasi untuk
   instrumen yang sama (yaitu tanpa modifikasi dan
   pengemasan kembali) atau berdasarkan data pasar
   yang tersedia dan dapat diobservasi.

   Pada tanggal 31 Desember 2024 dan 2023, Grup                    As of December 31, 2024 and 2023, the Group has
   tidak memiliki aset keuangan dan liabilitas keuangan            no financial assets and financial liabilities that are
   yang diukur menggunakan nilai wajarnya.                         measured at fair value.


19. Provisi Reklamasi dan Penutupan Tambang                     19. Provision for Reclamation and Mine Closure

   Mutasi penyisihan untuk provisi reklamasi dan                   The movements in the provision for reclamation and
   penutupan tambang adalah sebagai berikut:                       mine closure are as follows:

                                                   2024              2023

    Saldo awal                                     6.160.725         5.796.788    Beginning balance
    Penambahan (Catatan 30)                          383.133           355.813    Addition (Note 30)
    Selisih kurs                                     (13.629)            8.124    Foreign exchange

    Jumlah                                         6.530.229         6.160.725    Total

   Provisi reklamasi dan penutupan tambang                         Provision for reclamation and mine closure
   merupakan provisi yang dibuat oleh Grup                         represents    the     provision     set    up    by
   untuk        memenuhi      Peraturan       Menteri              the Group to comply with the Minister
   Lingkungan        Hidup       dan       Kehutanan               Regulation   of   Environment        and    Forestry
   No. P/89/MENLHK/SETJEN/KUM.1/11/2016 dan                        No. P/89/MENLHK/SETJEN/KUM.1/11/2016 and
   PP No. 78 untuk rehabilitasi daerah aliran sungai,              GR No. 78 for rehabilitation of the watershed area,
   aktivitas reklamasi dan pasca tambang atas usaha                reclamation and post-mining activities for coal
   penambangan batubara.                                           mining business.

   Manajemen yakin bahwa akumulasi provisi telah                   Management believes that the current accumulated
   cukup untuk menyelesaikan semua liabilitas yang                 provision is sufficient to cover all liabilities related to
   berhubungan dengan kewajiban pengelolaan dan                    the environmental and reclamation costs and mine
   reklamasi lingkungan hidup dan penutupan                        closure arising from mining activities up to the end
   tambang yang timbul dari kegiatan tambang sampai                of a mine’s life.
   dengan akhir umur tambang.




                                                          - 78 -
Page 236
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


20. Modal Saham                                              20. Capital Stock

   Susunan kepemilikan saham Perusahaan pada                         As of December 31, 2024 and 2023, the share
   tanggal 31 Desember 2024 dan 2023, berdasarkan                    ownership in the Company, based on the record of
   catatan yang dibuat oleh PT Sinartama Gunita, Biro                PT Sinartama Gunita, share’s registrar, follows:
   Administrasi Efek, adalah sebagai berikut:

                                                         2024
                                       Jumlah          Persentase          Jumlah
                                       Saham/         Kepemilikan/      Modal Disetor/
                                      Number of      Percentage of      Total Paid-up
        Nama Pemegang Saham            Shares          Ownership        Capital Stock            Name of Stockholders
                                                           %
    PT Dian Swastatika Sentosa Tbk   3.000.000.100          51,000         33.183.640    PT Dian Swastatika Sentosa Tbk
    PT Radhika Jananta Raya          1.764.705.900          30,000         19.519.788    PT Radhika Jananta Raya
    Golden Energy and Resources,                                                         Golden Energy and Resources
      Pte., Ltd., Singapura           411.192.353           6,990           4.548.306      Pte., Ltd., Singapore
    PT Sinar Mas Cakrawala             95.505.000           1,624           1.056.411    PT Sinar Mas Cakrawala
    Publik                            610.949.647          10,386           6.757.816    Public

    Total                            5.882.353.000        100,000          65.065.961    Total


                                                         2023
                                       Jumlah          Persentase          Jumlah
                                       Saham/         Kepemilikan/      Modal Disetor/
                                      Number of      Percentage of      Total Paid-up
        Nama Pemegang Saham            Shares          Ownership        Capital Stock            Name of Stockholders
                                                           %
    PT Dian Swastatika Sentosa Tbk   3.000.000.100          51,000         33.183.640    PT Dian Swastatika Sentosa Tbk
    PT Radhika Jananta Raya          1.764.705.900          30,000         19.519.788    PT Radhika Jananta Raya
    Golden Energy and Resources                                                          Golden Energy and Resources
      Pte., Ltd., Singapura           411.192.353           6,990           4.548.306      Pte., Ltd., Singapore
    PT Sinar Mas Cakrawala             93.729.800           1,593           1.036.761    PT Sinar Mas Cakrawala
    Publik                            612.724.847          10,417           6.777.466    Public

    Total                            5.882.353.000        100,000          65.065.961    Total



   Berdasarkan Surat No. 074/GEMS-CS/VIII/2023                       Based on Letter No. 074/GEMS-CS/VIII/2023 dated
   tanggal 10 Agustus 2023 perihal Laporan                           August 10, 2023, regarding the Report of Shares
   Kepemilikan Saham yang dikirimkan kepada OJK                      Ownership submitted to the OJK that Golden
   bahwa Golden Energy and Resources Limited                         Energy and Resources Limited Singapore (GEAR),
   Singapura (GEAR), selaku pemegang saham                           as the controlling shareholder, has distributed
   pengendali, telah mendistribusikan 2.848.721.125                  2,848,721,125 shares to PT Dian Swastatika
   saham kepada PT Dian Swastatika Sentosa Tbk                       Sentosa Tbk (DSSA), therefore GEAR’s ownership
   (DSSA), sehingga kepemilikan GEAR atas saham                      in GEMS was reduced to 822,376,521 shares
   Perusahaan menjadi 822.376.521 saham (13,98%).                    (13.98%).

   Berdasarkan Surat No. 079/GEMS-CS/VIII/2023                       Based on Letter No. 079/GEMS-CS/VIII/2023 dated
   tanggal 21 Agustus 2023 perihal Laporan                           August 21, 2023, regarding the Report of Shares
   Kepemilikan Saham yang dikirimkan kepada OJK                      Ownership submitted to the OJK that GEAR has
   bahwa GEAR telah menjual 411.184.168 saham                        sold 411,184,168 shares to DSSA, therefore
   kepada DSSA, sehingga kepemilikan GEAR atas                       GEAR’s ownership in GEMS was further reduced to
   saham GEMS menjadi 411.192.353 saham (6,99%).                     411,192,353 shares (6.99%).

   Manajemen Permodalan                                              Capital Management

   Tujuan utama dari pengelolaan modal Grup adalah                   The primary objective of the Group’s capital
   untuk memastikan bahwa Grup mempertahankan                        management is to ensure that it maintains healthy
   rasio modal yang sehat dalam rangka mendukung                     capital ratios in order to support its business and
   bisnis dan memaksimalkan nilai pemegang saham.                    maximize shareholder value.




                                                        - 79 -
Page 237
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


   Grup mengelola permodalan untuk menjaga                         The Group manages its capital to safeguard the
   kelangsungan     usahanya       dalam     rangka                Group’s ability to continue as a going concern in
   memaksimumkan kekayaan para pemegang saham                      order to maximize the return to shareholders and
   dan manfaat kepada pihak lain yang berkepentingan               benefits for other stakeholders, and to maintain
   terhadap Grup dan untuk menjaga struktur optimal                optimal capital structure to reduce the cost of
   permodalan untuk mengurangi biaya permodalan.                   capital.

   Struktur permodalan Grup terdiri dari ekuitas dan               The capital structure of the Group consists of total
   pinjaman serta utang (terdiri dari utang bank dan               equity and loans and payables (consists of short-
   lembaga keuangan jangka pendek dan jangka                       term bank loans and long-term loans to banks and
   panjang dan utang jangka panjang lainnya dikurangi              financial institution and other long-term payables
   dengan saldo kas dan setara kas).                               net of cash and cash equivalents).


21. Tambahan Modal Disetor - Bersih                            21. Additional Paid-in Capital - Net

   Akun ini merupakan tambahan modal disetor                       This account represents additional paid-in capital in
   sehubungan dengan:                                              connection with the following:

                                                       2024
                                                      dan/and
                                                       2023

    Tambahan modal disetor dari penerbitan                                  Additional paid-in capital from
      modal saham                                          235.163.487         capital stock issuance
    Biaya emisi saham                                       (5.815.660)     Share issuance costs
                                                                            Difference in value of transactions
    Selisih nilai transaksi entitas                                            among entities under common
      sepengendali                                            (328.629)        control
    Jumlah                                                 229.019.198      Total

   Rincian selisih nilai transaksi entitas sepengendali            The details of difference in value of transactions
   adalah sebagai berikut:                                         among entities under common control are as
                                                                   follows:

                                                       2024
                                                      dan/and
                                                       2023

    Entitas Anak                                                          Subsidiaries
      PT Wahana Alam Lestari (WAL)                             567.513      PT Wahana Alam Lestari (WAL)
      PT Nusantara Indah Lestari (NIL)                          17.297      PT Nusantara Indah Lestari (NIL)
      PT Citra Alam Indah (CAI)                               (124.658)     PT Citra Alam Indah (CAI)
      PT Manggala Alam Lestari (MAL)                          (788.781)     PT Manggala Alam Lestari (MAL)

    Jumlah                                                    (328.629)     Total




                                                          - 80 -
Page 238
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


22. Cadangan Umum dan Dividen Tunai                           22. General Reserve and Cash Dividends

   2024                                                           2024

   Berdasarkan Pernyataan Keputusan Sirkular Direksi              Based on the Circular Statement of the Company’s
   Perusahaan, seluruh anggota Direksi Perusahaan                 Board of Directors, all members of the Company’s
   dengan persetujuan Dewan Komisaris Perusahaan                  Board of Directors with approval of the Company’s
   pada tanggal 26 November 2024 memutuskan                       Board of Commissioners on November 26, 2024
   membagikan dividen interim ke-3 untuk tahun buku               decided to distribute third interim dividend for the
   2024 sebesar US$ 90.000.000 atau US$ 0,0153 per                year 2024 amounting to US$ 90,000,000 or
   saham kepada para pemegang saham.                              US$ 0.0153 per share to shareholders.

   Berdasarkan Pernyataan Keputusan Sirkular Direksi              Based on the Circular Statement of the Company’s
   Perusahaan, seluruh anggota Direksi Perusahaan                 Board of Directors, all members of the Company’s
   dengan persetujuan Dewan Komisaris Perusahaan                  Board of Directors with approval of the Company’s
   pada tanggal 23 Agustus 2024 memutuskan                        Board of Commissioners on August 23, 2024
   membagikan dividen interim ke-2 untuk tahun buku               decided to distribute second interim dividend for the
   2024 sebesar US$ 150.000.000 atau US$ 0,0255                   year 2024 amounting to US$ 150,000,000 or
   per saham kepada para pemegang saham.                          US$ 0.0255 per share to shareholders.

   Berdasarkan Pernyataan Keputusan Sirkular Direksi              Based on the Circular Statement of the Company’s
   Perusahaan, seluruh anggota Direksi Perusahaan                 Board of Directors, all members of the Company’s
   dengan persetujuan Dewan Komisaris Perusahaan                  Board of Directors with approval of the Company’s
   pada tanggal 29 Mei 2024 memutuskan                            Board of Commissioners on May 29, 2024 decided
   membagikan dividen interim untuk tahun buku 2024               to distribute interim dividend for the year 2024
   sebesar US$ 150.000.000 atau US$ 0,0255 per                    amounting to US$ 150,000,000 or US$ 0.0255 per
   saham kepada para pemegang saham.                              share to shareholders.

   Berdasarkan Akta Berita Acara Rapat Umum                       Based on Memorandum of Annual Stockholders’
   Pemegang Saham Tahunan No. 128 tanggal                         Meeting No. 128 dated May 16, 2024, all of the
   16 Mei 2024, para pemegang saham Perusahaan                    Company’s shareholders agreed to:
   menyetujui:

   •   Membentuk    dana     cadangan     sebesar                 •     Establish a reserve fund amounting           to
       US$ 1.000.000 dari laba bersih tahun buku                        US$ 1,000,000 from 2023 net income.
       2023.

   •   Dividen sebesar US$ 500.000.000 sebagai                    •     Dividend amounting to US$ 500,000,000 as a
       dividen final tahun buku 2023 dimana sebagian                    final dividend for the year 2023 of which
       dari jumlah dividen yaitu masing-masing                          US$ 325,000,000 and US$ 90,000,000 had
       sebesar         US$      325.000.000        dan                  been distributed as dividends interim 1 and 2,
       US$ 90.000.000 telah dibagikan sebagai                           also had been paid to shareholders on
       dividen interim 1 dan 2, serta telah dibayarkan                  September 12, 2023 and December 22, 2023,
       kepada seluruh pemegang saham pada tanggal                       respectively.
       12 September 2023 dan 22 Desember 2023.

   2023                                                           2023

   Berdasarkan Pernyataan Keputusan Sirkular Direksi              Based on the Circular Statement of the Company’s
   Perusahaan, seluruh anggota Direksi Perusahaan                 Board of Directors, all members of the Company’s
   dengan persetujuan Dewan Komisaris Perusahaan                  Board of Directors with approval of the Company’s
   pada tanggal 4 Desember 2023 memutuskan                        Board of Commissioners on December 4, 2023
   membagikan dividen interim ke-2 untuk tahun buku               decided to distribute second interim dividend for the
   2023 sebesar US$ 90.000.000 atau US$ 0,0153 per                year 2023 amounting to US$ 90,000,000 or
   saham kepada para pemegang saham.                              US$ 0.0153 per share to shareholders.




                                                         - 81 -
Page 239
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   Berdasarkan Pernyataan Keputusan Sirkular Direksi               Based on the Circular Statement of the Company’s
   Perusahaan, seluruh anggota Direksi Perusahaan                  Board of Directors, all members of the Company’s
   dengan persetujuan Dewan Komisaris Perusahaan                   Board of Directors with the approval of the
   pada tanggal 21 Agustus 2023 memutuskan                         Company’s Board of Commissioners on August 21,
   membagikan dividen interim untuk tahun buku 2023                2023 decided to distribute interim dividend for the
   sebesar US$ 325.000.000 atau US$ 0,05525 per                    year 2023 amounting to US$ 325,000,000 or
   saham kepada para pemegang saham.                               US$ 0.05525 per share to shareholders.

   Berdasarkan Akta Berita Acara Rapat Umum                        Based on Memorandum of Annual Stockholders’
   Pemegang Saham Tahunan No. 198 tanggal                          Meeting No. 198 dated June 22, 2023, all of the
   22 Juni 2023, para pemegang saham Perusahaan                    Company’s shareholders agreed to:
   menyetujui:

   •     Membentuk    dana     cadangan     sebesar                •     Establish a reserve fund amounting           to
         US$ 1.000.000 dari laba bersih tahun buku                       US$ 1,000,000 from 2022 net income.
         2022.

   •     Dividen sebesar US$ 420.000.000 sebagai                   •     Dividend amounting to US$ 420,000,000 as a
         dividen final tahun buku 2022 dimana sebagian                   final dividend for the year 2022 of which
         dari jumlah dividen yaitu masing-masing                         US$ 120,000,000, US$ 200,000,000, and
         sebesar US$ 120.000.000, US$ 200.000.000,                       US$ 100,000,000 had been distributed as
         dan US$ 100.000.000 telah dibagikan sebagai                     dividends interim 1, 2, and 3, also had been
         dividen interim 1, 2, dan 3, serta telah                        paid to shareholders on June 21, 2022,
         dibayarkan kepada seluruh pemegang saham                        September 21, 2022, and November 17, 2022,
         pada tanggal 21 Juni 2022, 21 September                         respectively.
         2022, dan 17 November 2022.


23. Selisih Transaksi Dengan Pihak Nonpengendali              23. Difference Arising from Transaction with Non-
                                                                  controlling Interests

   Rincian  selisih    transaksi   dengan       pihak              The details of difference arising from transactions
   nonpengendali adalah sebagai berikut:                           with non-controlling interests are as follows:

                                                      2024
                                                     dan/and
                                                      2023

    Entitas Anak                                                          Subsidiaries
      RCI                                                   1.339.815       RCI
      KMS                                                      44.876       KMS
      KIM                                                    (155.737)      KIM

    Jumlah                                                  1.228.954        Total

   RCI                                                             RCI

   Berdasarkan Akta No. 47 tanggal 23 Februari 2009                Based on Deed No. 47 dated February 23, 2009 of
   dari Linda Herawati, S.H., notaris di Jakarta, para             Linda Herawati, S.H., a public notary in Jakarta, the
   pemegang saham RCI menyetujui peningkatan                       shareholders of RCI agreed to increase its
   modal     ditempatkan   dan      disetor   sebesar              authorized     and       paid-up      capital      by
   Rp 12.530.000.000 (setara US$ 1.158.255) yang                   Rp 12,530,000,000 (equivalent to US$ 1,158,255)
   diambil bagian seluruhnya oleh Perusahaan,                      which were all acquired by the Company,
   sehingga kepemilikan Perusahaan meningkat dari                  accordingly, the Company’s ownership interest
   50,000% menjadi 57,365%.                                        increased from 50.000% to 57.365%.

   Terdapat selisih lebih antara nilai setoran modal               The excess of the amount paid over the book, value
   dengan nilai buku RCI pada tanggal akuisisi sebesar             of the assets of RCI at transaction date amounted
   Rp 1.808.196.657 (setara US$ 121.095).                          to Rp 1,808,196,657 (equivalent to US$ 121,095).




                                                         - 82 -
Page 240
PT GOLDEN ENERGY MINES Tbk                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


   Berdasarkan Akta No. 58 tanggal 20 Juli 2010 dari              Based on Deed No. 58 dated July 20, 2010 of
   Hannywati Gunawan, S.H., notaris di Jakarta, para              Hannywati Gunawan, S.H., a public notary in
   pemegang        saham       RCI       menyetujui               Jakarta, the shareholders of RCI agreed to increase
   peningkatan modal dasar serta modal ditempatkan                its authorized capital and its issued and paid-up
   dan disetor sebesar Rp 100.000.000.000                         capital by Rp 100,000,000,000 (equivalent to
   (setara US$ 11.052.166) yang diambil bagian                    US$ 11,052,166), which were all acquired by the
   seluruhnya oleh Perusahaan, sehingga kepemilikan               Company, accordingly, the Company’s ownership
   Perusahaan meningkat dari 57,365% menjadi                      interest increased from 57.365% to 80.403%.
   80,403%.

   Terdapat selisih lebih antara nilai setoran modal              The difference between the value of paid-in capital
   dengan nilai buku RCI pada tanggal akuisisi sebesar            and the book value RCI on the acquisition date
   Rp 10.735.214.931 (setara US$ 1.284.173).                      amounted to Rp 10,735,214,931 (equivalent to
                                                                  US$ 1,284,173).

   Berdasarkan Akta No. 59 tanggal 15 April 2011 dari             Based on Deed No. 59 dated April 15, 2011 of Deni
   Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta,            Thanur, S.E., S.H., M.Kn., a public notary in Jakarta,
   para pemegang saham RCI menyetujui antara lain                 the shareholders of RCI agreed, among others, to
   perubahan klasifikasi saham RCI menjadi saham                  change the clalssification of RCI’s shares into
   Seri A bernilai nominal Rp 1.000.000 dan saham                 Series A shares with nominal value per share of
   Seri B bernilai nominal Rp 1.000 dan perubahan                 Rp 1,000,000 and Series B shares with nominal
   seluruh saham yang telah dikeluarkan menjadi                   value per share of Rp 1,000 and to change all of the
   saham Seri A serta peningkatan modal ditempatkan               issued shares to Series A shares and increase the
   dan disetor sebesar Rp 3.500.000.000 (setara                   issued and paid-up capital by Rp 3,500,000,000
   US$ 404.344) atas 3.500.000 saham Seri B, yang                 (equivalent to US$ 404,344) consisting of 3,500,000
   diambil seluruhnya oleh Perusahaan, sehingga                   Series B shares which were all acquired by the
   kepemilikan Perusahaan meningkat dari 80,403%                  Company, accordingly, the Company’s ownership
   menjadi 99,016%.                                               interest increased from 80.403% to 99.016%.

   Terdapat selisih lebih antara setoran modal                    The excess of the amount paid by the Company
   Perusahaan dengan nilai buku RCI pada tanggal                  over the book value of the assets of RCI at
   akuisisi sebesar Rp 26.151.860.412 (setara                     transaction date amounted to Rp 26,151,860,412
   US$ 2.745.083).                                                (equivalent to US$ 2,745,083).

   KMS                                                            KMS

   Berdasarkan Akta Jual Beli dan Penyerahan serta                Based on the Sale and Purchase and Shares
   Pemindahan Hak atas Saham No. 26 tanggal                       Transfer Deeds No. 26 dated May 16, 2014
   16 Mei 2014 dari Deni Thanur, S.E., S.H., M.Kn.,               of Deni Thanur, S.E., S.H., M.Kn., a public notary
   notaris di Jakarta, Perusahaan menjual dan                     in Jakarta, the Company sold and transferred
   menyerahkan serta memindahkan hak atas 1.990                   1,990 shares in KMS to CAJ, a third party, at a
   saham yang dimilikinya dalam KMS kepada CAJ,                   selling price of Rp 1,990,000,000 (equivalent to
   pihak    ketiga,  seharga    Rp   1.990.000.000                US$ 193,863).
   (setara US$ 193.863).

   Terdapat selisih antara harga pelepasan dengan                 The difference between the selling price and
   nilai buku investasi sebesar Rp 13.264.765 (setara             carrying value of investment amounted to
   US$ 31.701).                                                   Rp 13,264,765 (equivalent to US$ 31,701).

   Berdasarkan Akta Jual Beli dan Penyerahan serta                Based on Sale and Purchase and Shares Transfer
   Pemindahan Hak Atas Saham No. 27 tanggal                       Deeds No. 27 dated May 16, 2014 of Deni
   16 Mei 2014 dari Dani Thanur, S.E., S.H., M.Kn.,               Thanur, S.E., S.H., M.Kn., a public notary in Jakarta,
   notaris di Jakarta, KIM menjual dan menyerahkan                KIM sold and transferred 10 shares in KMS to CAJ,
   serta memindahkan hak atas 10 saham yang                       a   third   party, at      a selling       price of
   dimilikinya dalam KMS kepada CAJ, pihak ketiga,                Rp 10,000,000 (equivalent to US$ 974).
   seharga Rp 10.000.000 (setara US$ 974).




                                                         - 83 -
Page 241
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


   Berdasakan Akta Juali Beli dan Penyerahan serta                  Based on Sale and Purchase and Shares Transfer
   Pemindahan Hak atas Saham No. 09 tanggal                         Deeds No. 09 dated September 10, 2015 of Deni
   10 September 2015 dari Deni Thanur, S.E., S.H.,                  Thanur, S.E., S.H., M.Kn., a public notary in Jakarta,
   M.Kn., notaris di Jakarta, CAJ, pihak ketiga, menjual            CAJ, a third party, sold and transferred
   dan menyerahkan serta memindahkan hak atas 10                    10 shares in KMS to RCI at a selling price
   saham yang dimilikinya dalam KMS kepada RCI                      Rp 10,000,000 (equivalent to US$ 974).
   seharga Rp 10.000.000 (setara US$ 974).

   KIM                                                              KIM

   Berdasarkan Akta No. 31 tanggal 20 November                      Based on Deed No. 31 dated November 20, 2015 of
   2015 dari Deni Thanur, S.E., S.H., M.Kn., notaris di             Deni Thanur, S.E., S.H., M.Kn., a public notary in
   Jakarta, para pemegang saham KIM menyetujui                      Jakarta, the shareholders of KIM agreed to increase
   peningkatan modal dasar dari Rp 200.000.000.000                  its         authorized         capital         from
   menjadi Rp 1.000.000.000.000 serta modal                         Rp 200,000,000,000 to Rp 1,000,000,000,000 and
   ditempatkan     dan    disetor     dari    sebesar               its   issued     and     paid-up    capital    from
   Rp      50.000.000.000       menjadi       sebesar               Rp 50,000,000,000 to Rp 550,000,000,000 or an
   Rp 550.000.000.000 atau meningkat sebesar                        increase of Rp 500,000,000,000 by issuing 150,000
   Rp 500.000.000.000 dengan pengeluaran 150.000                    shares in deposit and 350,000 new shares which
   saham dalam simpanan dan penerbitan 350.000                      were all acquired by the Company.
   saham baru yang diambil bagian seluruhnya oleh
   Perusahaan.

   Terdapat selisih antara nilai setoran modal dengan               The difference between the amount paid with
   nilai buku investasi KIM sebesar US$ 155.737.                    carrying value of investment of KIM amounting to
   Setelah peningkatan modal tersebut, kepemilikan                  US$ 155,737. Accordingly, the Compay’s ownership
   Perusahaan meningkat dari 99,9980% menjadi                       interest increased from 99.9980% to 99.9998%.
   99,9998%.

   Berdasarkan Akta No. 21 tanggal 5 September 2016                 Based on Deed No. 21 dated September 5, 2016 of
   dari Deni Thanur, S.E., S.H., M.Kn., notaris di                  Deni Thanur, S.E., S.H., M.Kn., a public notary in
   Jakarta, yang antara lain, para pemegang saham                   Jakarta, among others, the shareholders of KIM
   KIM menyetujui peningkatan modal ditempatkan                     agreed to increase its issued and paid-up capital
   dan disetor dari sebesar Rp 550.000.000.000                      from Rp 550,000,000,000 to Rp 595,000,000,000 or
   menjadi sebesar Rp 595.000.000.000 atau                          an increase of Rp 45,000,000,000 by issuing 45,000
   meningkat sebesar Rp 45.000.000.000 dengan                       shares in deposit which were all acquired by the
   pengeluaran 45.000 saham dalam simpanan yang                     Company.
   diambil bagian seluruhnya oleh Perusahaan.

   Terdapat selisih antara nilai setoran modal dengan               The difference between the amount paid with the
   nilai buku investasi KIM sebesar US$ 13.                         carrying value of investment of KIM amounted to
                                                                    US$ 13.


24. Kepentingan Nonpengendali                                   24. Non-controlling Interests

   a.    Kepentingan nonpengendali atas aset bersih                 a.     Non-controlling interests in net assets of
         entitas anak:                                                     subsidiaries

                                                      2024                 2023

         TKS                                              52.621              52.622    TKS
         GEI                                              (1.257)             (1.320)   GEI
         BAS                                              (1.722)             (1.853)   BAS
         KIM                                             (71.046)            (56.392)   KIM
         RCI                                          (2.436.085)         (2.851.109)   RCI
         BORNEO                                       (2.787.928)         (2.724.436)   BORNEO
         DSU                                          (3.723.458)         (3.779.186)   DSU

         Jumlah                                       (8.968.875)         (9.361.674)   Total




                                                           - 84 -
Page 242
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


   b.   Kepentingan nonpengendali pada laba (rugi)               b.     Non-controlling interests in profit (loss) of
        entitas anak                                                    subsidiaries

                                              2024                2023

        RCI                                    4.803.592           5.025.997    RCI
        BORNEO                                 4.584.104           4.791.612    BORNEO
        DSU                                       (8.585)            604.074    DSU
        KIM                                       (1.016)             (1.304)   KIM
        TKS                                      (52.630)            (52.631)   TKS

        Jumlah                                 9.325.465          10.367.748    Total



25. Pendapatan Usaha                                        25. Revenues

   a.   Berdasarkan Area Penjualan                               a.     Based on Sales Area

                                              2024                2023

        Penjualan luar negeri              1.774.382.571       2.030.456.083    Export sales
        Penjualan dalam negeri               931.138.313         871.380.213    Domestic sales

        Jumlah                             2.705.520.884       2.901.836.296    Total

   b.   Berdasarkan Pelanggan                                    b.     Based on Customers

                                              2024                2023

        Pihak ketiga                       2.472.400.698       2.661.850.969    Third parties
        Pihak berelasi (Catatan 35)          233.120.186         239.985.327    Related parties (Note 35)

        Jumlah                             2.705.520.884       2.901.836.296    Total

   c.   Berdasarkan Mata Uang                                    c.     Based on Currency

                                              2024                2023

        Dolar Amerika Serikat              1.774.382.571       2.030.456.083    United States Dollar
        Rupiah                               931.138.313         871.380.213    Rupiah

        Jumlah                             2.705.520.884       2.901.836.296    Total

   Penjualan kepada pihak berelasi untuk tahun yang              Sales to related parties for the years ended
   berakhir pada 31 Desember 2024 dan 2023 masing-               December 31, 2024 and 2023 represent 8.62% and
   masing sebesar 8,62% dan 8,27% dari total                     8.27%, respectively, of total sales for the respective
   penjualan pada tahun yang bersangkutan (Catatan               year (Note 35). Management believes that there is
   35). Manajemen berpendapat tidak terdapat                     no concentration of sales to related parties.
   ketergantungan penjualan kepada pihak berelasi.




                                                      - 85 -
Page 243
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


26. Beban Pokok Penjualan                                      26. Cost of Revenues

                                                 2024               2023

    Beban produksi                                                                Production costs
      Jasa penambangan (Catatan 35)            840.126.992        856.006.376       Mining services (Note 35)
      Royalti (Catatan 37)                     339.786.891        452.211.304       Royalty (Note 37)
      Pengangkutan batubara                    168.652.457        162.042.703       Coal hauling
      Overhead pertambangan (Catatan 35)       154.431.638        159.479.251       Mining overhead (Note 35)
      Penggarapan lahan (Catatan 37)            13.385.496         17.580.828       Land exploitation (Note 37)
      Amortisasi aset pertambangan
        atas tambang pada tahap                                                     Amortization of mine properties
        produksi (Catatan 11)                   24.813.152          3.026.121         for producing mines (Note 11)
      Sewa peralatan (Catatan 35)                5.261.244          8.004.952       Equipment rental (Note 35)
                                                                                    Depreciation of property and
      Penyusutan aset tetap (Catatan 9)          2.142.287          2.201.481         equipment (Note 9)
      Amortisasi aset pertambangan
        atas aset aktivitas pengupasan                                              Amortization of mine properties
        lapisan tanah (Catatan 11)               1.357.940         41.988.722         for stripping activity asset (Note 11)
      Amortisasi aset takberwujud -                                                 Amortization of intangible asset -
        piranti lunak (Catatan 12)                  44.334             24.052         software (Note 12)
    Jumlah beban produksi                     1.550.002.431      1.702.565.790    Total production costs

    Persediaan batubara                                                           Coal inventory
      Saldo awal                                 40.074.914         42.466.884      Beginning balance
      Pembelian                                  33.547.819         50.827.455      Purchases
      Saldo akhir                               (22.682.648)       (40.074.914)     Ending balance
    Kenaikan bersih                             50.940.085         53.219.425     Net increase

    Jumlah                                    1.600.942.516      1.755.785.215    Total

   Beban pokok penjualan kepada pihak berelasi untuk                Cost of revenues to related parties for the years
   tahun yang berakhir pada 31 Desember 2024 dan                    ended December 31, 2024 and 2023 represent
   2023 masing-masing sebesar 19,13% dan 10,32%                     19.13% and 10.32%, respectively, of the total cost
   dari total beban pokok penjualan pada tahun yang                 of revenues for the respective year (Note 35).
   bersangkutan (Catatan 35).

   Tidak ada pembelian dari pemasok dengan total                    There were no purchases from any supplier which
   akumulasi yang melebihi 10% dari total penjualan                 exceeded 10% of total sales for years ended
   selama tahun yang berakhir pada tanggal                          December 31, 2024 and 2023.
   31 Desember 2024 dan 2023.


27. Beban Penjualan                                            27. Selling Expenses

                                                 2024               2023

    Ongkos angkut                              226.134.483        243.016.001     Freight
    Jasa stockpile (Catatan 35)                 41.163.304         46.524.999     Stockpile services (Note 35)
    Asuransi pengapalan                         17.782.882         19.090.412     Freight insurance
    Analisa dan survei                           5.125.389          3.268.735     Survey and analysis
                                                                                  Depreciation of property and
    Penyusutan aset tetap (Catatan 9)             3.361.021          3.296.856      equipment (Note 9)
    Perbaikan dan pemeliharaan (Catatan 35)         936.000            936.000    Repairs and maintenance (Note 35)
    Lain-lain                                       201.502            330.401    Others

    Jumlah                                     294.704.581        316.463.404     Total




                                                        - 86 -
Page 244
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


28. Beban Umum dan Administrasi                                28. General and Administrative Expenses

                                                 2024              2023

    Gaji dan tunjangan                           47.194.477        38.895.903    Salaries and benefits
    Pajak                                        44.503.232        26.514.821    Taxes
    Lisensi dan perijinan                        14.632.172         9.795.855    Licenses and permits
    Jasa profesional                             14.941.967        11.218.758    Professional fees
    Perbaikan dan pemeliharaan (Catatan 35)      10.589.081         9.083.309    Repairs and maintenance (Note 35)
    Asuransi (Catatan 35)                         9.793.175        14.023.436    Insurance (Note 35)
                                                                                 Depreciation of property and
    Penyusutan aset tetap (Catatan 9)             7.181.918         5.349.620       equipment (Note 9)
    Corporate social responsibilities             6.066.509         5.329.000    Corporate social responsibilities
    Biaya operasional kantor                      2.589.474         2.958.957    Office expenses
    Pendidikan dan pelatihan                      1.033.789           809.480    Education and training
    Perjalanan dinas                                955.506           998.359    Travel
    Beban imbalan kerja karyawan (Catatan 31)       953.568         1.034.035    Employee benefits expense (Note 31)
    Depresiasi aset hak guna                                                     Depreciation of right-of-use assets
       (Catatan 17)                                897.340          1.528.884       (Note 17)
    Transportasi                                   831.406            748.579    Transportation
    Amortisasi piranti lunak (Catatan 12)           13.645             26.442    Amortization of software (Note 12)
    Lain-lain (masing-masing dibawah                                             Others (each below US$ 100,000)
       US$ 100.000) (Catatan 35 dan 37)           6.716.719         6.791.027       (Notes 35 and 37)

    Jumlah                                      168.893.978       135.106.465    Total



29. Beban Keuangan Lainnya                                     29. Other Financial Charges

                                                 2024              2023

    Beban keuangan                                6.124.132         5.518.670    Financial charges
    Biaya transaksi yang diamortisasi:                                           Amortization of transaction costs:
       Utang bank jangka panjang                   826.348           228.746        Long-term bank loans

    Jumlah                                        6.950.480         5.747.416    Total



30. Lain-lain - Bersih                                         30. Others - Net

                                                 2024              2023

    Provisi reklamasi dan penutupan                                              Provision for reclamation and
      tambang (Catatan 19)                         (383.133)         (355.813)     mine closure (Note 19)
    Amortisasi aset pertambangan                                                 Amortization of mine properties from
      dari kombinasi bisnis (Catatan 11)           (436.776)         (411.454)     business combination (Note 11)
    Kerugian penurunan nilai                                                     Impairment loss on mine properties
      aset pertambangan (Catatan 11)             (7.835.487)                -      (Note 11)
    Lain-lain                                      (167.106)       (2.021.919)   Others

    Jumlah                                       (8.822.502)       (2.789.186)   Total



31. Imbalan Pasca-Kerja                                        31. Employee Benefits Liability

    Grup menyelenggarakan program pensiun manfaat                  The Group has a defined benefit pension plan for all
    pasti untuk semua karyawan yang memenuhi                       of its eligible permanent employees. The defined
    syarat. Program pensiun manfaat pasti entitas anak             benefit pension plan of certain subsidiary is
    tertentu dikelola oleh Dana Pensiun Lembaga                    managed by Dana Pensiun Lembaga Keuangan
    Keuangan (DPLK) PT Asuransi Simas Jiwa, pihak                  (DPLK) PT Asuransi Simas Jiwa, related party.
    berelasi.

    Pada tanggal 31 Desember 2024 dan 2023,                        As of December 31, 2024 and 2023, the Group’s
    pembayaran kontribusi Grup ke dana pensiun                     contributions to the pension fund amounted to
    sebesar Rp 1.404.454.000 (setara US$ 86.652) dan               Rp 1,404,454,000 (equivalent to US$ 86,652) and
    Rp 2.250.000.000 (setara US$ 150.275).                         Rp 2,250,000,000 (equivalent to US$ 150,275),
                                                                   respectively.


                                                         - 87 -
Page 245
PT GOLDEN ENERGY MINES Tbk                                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                unless Otherwise Stated)


   Pada tanggal 31 Desember 2024 dan 2023, saldo                                 As of December 31, 2024 and 2023, the balance of
   liabilitas imbalan kerja karyawan disajikan dalam                             the related liability for employee benefits is
   laporan keuangan konsolidasian sebagai akun                                   presented in the consolidated statement of financial
   “Liabilitas Imbalan Kerja” dan estimasi berdasarkan                           position as “Employee benefits liability” account as
   perhitungan aktuarial dengan menggunakan                                      estimated based on the actuarial calculations using
   metode projected unit credit.                                                 the projected unit credit method.

   Perhitungan aktuarial pada tanggal 31 Desember                                The actuarial calculation as of December 31, 2024
   2024 dan 2023 ditentukan berdasarkan laporan                                  and 2023 were determined based on the valuation
   penilaian dari aktuaris independen, Kantor                                    report from the independent actuary firm, Kantor
   Konsultan Aktuaria Halim dan Rekan, yang                                      Konsultan Aktuaria Halim dan Rekan, as expressed
   dituangkan dalam laporannya masing-masing                                     in their report dated February 21, 2025 and
   tanggal 21 Februari 2025 dan 26 Februari 2024.                                February 26, 2024, respectively.

   Asumsi-asumsi signifikan yang digunakan dalam                                 The significant assumptions used in calculations are
   perhitungan tersebut adalah sebagai berikut:                                  as follows:

                                                    2024                                 2023

    Tingkat mortalitas                               Tabel Mortalitas Indonesia 2019 (TMI IV)/                Mortality table
                                                     Indonesian Mortality Table 2019 (TMI IV)
    Tingkat diskonto                          7,10 per tahun/year                  6,70 per tahun/year        Discount rate
    Tingkat kenaikan gaji                     7,50 per tahun/year                  7,50 per tahun/year        Salary increase rate
    Tingkat kecacatan                                         10% dari tabel mortalitas/                      Percentage of disability
                                                               10% from mortality rate
    Usia pensiun maksimum                                          55 tahun/years                             Maximum pension rate
    Tingkat pengunduran diri              10,00% untuk karyawan sampai dengan 25 tahun dan menurun            Resignation rate
                                                   secara linear sampai 1% pada umur 45 tahun/
                                             10.00% for employees up to the age of 25 and will linearly
                                                         decrease until 1% at the age of 45

   Beban imbalan kerja karyawan yang diakui dalam                                The employee benefit expense recognized in the
   laporan laba rugi dan penghasilan komprehensif lain                           consolidated statement of profit or loss and other
   konsolidasian adalah sebagai berikut:                                         comprehensive income are as follows:

                                                              2024                2023

    Beban jasa kini                                             668.376             707.029      Current service cost
    Beban bunga                                                 349.559             327.006      Interest cost
    Beban jasa lalu dan keuntungan atas                                                          Past service cost and gain or
      kerugian dari penyelesaian manfaat pasti                   (64.367)                   -       loss on settlement

    Jumlah beban imbalan kerja (Catatan 28)                     953.568            1.034.035     Total employee benefit expense (Note 28)



   Rekonsiliasi atas liabilitas imbalan kerja karyawan                           Reconciliation of employee benefits liability are as
   adalah sebagai berikut:                                                       follows:

                                                              2024                2023

    Nilai kini liabilitas imbalan pasti                        5.851.049           5.542.614     Present value of defined benefit liability
    Nilai wajar aset program                                  (1.693.941)         (1.703.437)    Fair value of plan assets

    Liabilitas imbalan kerja karyawan                         4.157.108            3.839.177     Employee benefit liability




                                                                     - 88 -
Page 246
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


   Mutasi atas nilai kini liabilitas manfaat pasti adalah               Movements in present value of defined benefit
   sebagai berikut:                                                     liability are as follows:

                                                        2024             2023

    Saldo awal                                          5.542.614        4.535.710    Beginning balance
    Biaya jasa kini                                       668.376          707.029    Current service cost
    Biaya bunga                                           349.559          327.006    Interest cost
    Beban jasa lalu dan keuntungan                                                    Past service cost and gain on
       dari penyelesaian manfaat pasti                    (64.367)               -       settlement of defined benefit
    Imbalan kerja yang dibayarkan                                                     Employement benefits directly paid
       tahun berjalan                                    (124.280)        (283.031)      during the year
    Liabilitas imbalan kerja yang di transfer             (27.355)               -    Transferred liability for transferred employees
    Dampak perubahan dari asumsi keuangan                (188.469)         244.752    Effect of change in financial assumptions
    Penyesuaian pengalaman nilai liabilitas               (59.863)          22.946    Experience adjustment on liabilities
    Penyesuaian selisih kurs mata uang asing             (245.166)         (11.798)   Foreign exchange adjustment

    Saldo akhir                                         5.851.049        5.542.614    Ending balance

   Mutasi atas nilai wajar aset program adalah sebagai                  Movement in fair value of plan assets are as follows:
   berikut:

                                                        2024             2023

    Saldo awal                                          1.703.437        1.815.704    Beginning balance
    Pendapatan bunga                                      107.389          121.754    Interest income
    Kontribusi karyawan                                    86.652          150.275    Contribution by employees
    Pembayaran manfaat                                   (121.404)        (257.978)   Benefits payment
    Pengembalian aset program                              (3.183)         (26.659)   Return on the plan assets
    Penyesuaian selisih kurs mata uang asing              (78.950)         (99.659)   Foreign exchange adjustment

    Saldo akhir                                         1.693.941        1.703.437    Ending balance

   Mutasi liabilitas imbalan kerja karyawan di laporan                  The movements of employee benefits liability in the
   posisi keuangan konsolidasian adalah sebagai                         consolidated statement of financial position are as
   berikut:                                                             follows:

                                                        2024             2023

    Saldo awal                                          3.839.177        2.720.006    Beginning balance
    Beban (penghasilan) imbalan kerja                                                 Employee benefit expense (income)
       tahun berjalan dibebankan ke:                                                    for the year charge to:
       Laba rugi                                          846.179         912.280       Profit or loss
       Penghasilan komprehensif lainnya                  (244.630)        294.357       Other comprehensive income
    Imbalan kerja yang langsung dibayarkan                                            Employee benefit directly paid during
       tahun berjalan                                      (2.876)         (25.053)     the year
    Liabilitas imbalan kerja karyawan yang ditransfer     (27.355)               -    Transferred liability for transferred employee
    Kontribusi karyawan                                   (86.652)        (150.275)   Contribution by employee
    Penyesuaian selisih kurs mata uang asing             (166.735)          87.862    Foreign exchange adjustment

    Saldo akhir                                         4.157.108        3.839.177    Ending balance




                                                               - 89 -
Page 247
PT GOLDEN ENERGY MINES Tbk                                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                      unless Otherwise Stated)


   Pada tanggal 31 Desember 2024 dan 2023, analisa                                    As of December 31, 2024 and 2023, sensitivity
   sensitivitas terhadap asumsi utama yang digunakan                                  analysis to the key assumptions used in determining
   dalam menentukan liabilitas imbalan kerja adalah                                   employee benefits liability are as follows:
   sebagai berikut:

                                                         2024                                   2023
                                            Kenaikan/           Penurunan/         Kenaikan/           Penurunan/
                                           Increase of          Decrease of       Increase of          Decrease of
                                               1%                   1%                1%                   1%

    Perubahan tingkat diskonto                                                                                         Change in discount rate
      Dampak pada nilai kini                                                                                             Effect on present value of
        liabilitas imbalan kerja              (439.732)             486.854          (437.425)             486.416          employee benefits liability

    Perubahan tingkat kenaikan gaji                                                                                    Change in salary increase rate
      Dampak pada nilai kini                                                                                             Effect on present value of
        liabilitas imbalan kerja               565.981             (515.541)          561.765             (509.594)         employee benefits liability

   Pembayaran kontribusi yang diharapkan dari                                         The following payments are expected contribution
   liabilitas imbalan kerja pada tahun mendatang                                      to the employee benefit liability in the future years:
   adalah sebagai berikut:

                                                                  2024                 2023

    Jatuh tempo ≤ 1 tahun                                           405.646              571.295         Maturity ≤ 1 year
    Jatuh tempo > 1 tahun dan ≤ 5 tahun                           1.481.475            1.718.264         Maturity > 1 year and ≤ 5 years
    Jatuh tempo > 5 tahun dan ≤ 10 tahun                          4.585.946            4.256.276         Maturity > 5 years and ≤ 10 years
    Jatuh tempo > 10 tahun                                       26.100.947           24.109.267         Maturity > 10 years

    Jumlah                                                       32.574.014           30.655.102         Total

   Pada tanggal 31 Desember 2024 dan 2023, rata-                                      As of December 31, 2024 and 2023, the average
   rata (dalam tahun) dari liabilitas imbalan kerja                                   duration (in years) of the employee benefits liability
   karyawan masing-masing berkisar antara 5,7 - 12,4                                  is approximately from 5.7 - 12.4 years and
   tahun dan 6,2 - 12,7 tahun.                                                        6.2 - 12.7 years, respectively.


32. Goodwill                                                                   32. Goodwill

   Nilai tercatat goodwill adalah sebagai berikut:                                    The carrying value of goodwill is as follows:

                                                                 2024                   2023

    Saldo awal                                                  24.391.364             24.391.364          Beginning balance
    Dikurangi:                                                                                             Less:
      Kerugian penurunan nilai                                   (7.185.195)                       -         Impairment losses

    Saldo akhir                                                 17.206.169             24.391.364          Ending balance

   Seperti diungkapkan pada Catatan 2q, Grup                                          As disclosed in Note 2q, the Group performed
   melakukan pengujian penurunan nilai pada tanggal                                   impairment tests on December 31, 2024 and 2023
   31 Desember 2024 dan 2023, atas goodwill yang                                      on its goodwill reported in the consolidated
   tercatat di laporan posisi keuangan konsolidasian.                                 statements of financial position on those dates.

   Goodwill tersebut dialokasikan ke UPK terkait untuk                                Such goodwill was allocated to the individual CGU
   pengujian penurunan nilai pada tahun 2024 dan                                      for impairment testing in 2024 and 2023 (annual
   2023 (pengujian tahunan), yaitu tambang batubara                                   testing), the coal mines of BORNEO, BSL, KIM,
   BORNEO, BSL, KIM, KIS, BBU, BBM, KCP, TBBU,                                        KIS, BBU, BBM, KCP, TBBU, BHBA. BNP, BSA,
   BHBA, BNP, BSA, WRL dan TKS.                                                       WRL and TKS.




                                                                         - 90 -
Page 248
PT GOLDEN ENERGY MINES Tbk                                                             PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                       (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


   Pada tahun 2024, berdasarkan hasil pengujian                      In 2024, based on the results of impairment testing
   penurunan nilai yang dilakukan, Grup mengakui                     performed, the Group recognized impairment
   kerugian penurunan nilai atas UPK yang terkait                    losses on the CGUs associated to the coal mines of
   dengan tambang Batubara BSA, WRL, dan TKS                         BSA, WRL and TKS amounting to US$ 15,020,682.
   sebesar US$ 15.020.682. Kerugian penurunan nilai                  The impairment losses recognized are allocated to
   tersebut yang diakui dialokasikan pada Goodwill                   goodwill first, and then, to the mine properties
   terlebih dahulu, kemudian pada aset pertambangan                  amounting to US$ 7,185,195 and US$ 7,835,487
   masing-masing sebesar US$ 7.185.195 dan                           (Note 11), respectively. In 2023, no impairment
   US$ 7.835.487 (Catatan 11). Pada tahun 2023, tidak                losses were recognized, as the recoverable
   ada kerugian penurunan nilai yang diakui, karena                  amounts were in excess of the respective
   jumlah terpulihkan lebih tinggi dari nilai tercatat               carrying values.
   masing-masing.

   Tingkat diskonto yang digunakan dalam pengujian                   The discount rates used are 10.29% and 12.50% in
   penurunan nilai tahun 2024 dan 2023 adalah                        the impairment testing performed in 2024 and 2023,
   sebesar 10,29% dan 12,50% yang dihitung dengan                    respectively, which are derived from Weighted
   mengacu kepada Biaya Modal Rata-rata Tertimbang                   Average Cost of Capital (WACC).
   (WACC).

   Manajemen menilai asumsi utama yang digunakan                     Management assessed the key assumptions used
   dalam menentukan jumlah yang dapat dipulihkan                     in determining the recoverable amounts of the
   dari UPK dan mengakui kerugian penurunan nilai                    CGUs and recognized impairment losses in the
   pada tahun berjalan. Penurunan nilai mencerminkan                 current year. The impairment reflects a reduction in
   pengurangan jumlah yang dapat dipulihkan karena                   the recoverable amounts due to declining coal
   penurunan harga batubara dan peningkatan biaya                    prices and increased operating costs. While
   operasional. Meskipun manajemen yakin asumsi                      management believes the assumptions used are
   yang digunakan wajar, adanya perubahan lebih                      reasonable, any further unfavorable changes in
   lanjut yang tidak menguntungkan dalam asumsi ini                  these assumptions may result in additional
   mungkin akan mempengaruhi penurunan nilai                         impairment losses in the future.
   dimasa depan.


33. Perpajakan                                                  33. Taxation

   a.   Pajak Dibayar Dimuka                                         a.     Prepaid Taxes

                                                     2024                    2023

        Pajak penghasilan:                                                               Income taxes:
          Pasal 21                                       41.964                      -      Article 21
          Pasal 22                                      689.218                      -      Article 22
          Pasal 23                                    1.095.677                      -      Article 23
          Pasal 25                                    1.019.980                      -      Article 25
        Pajak pertambahan nilai - bersih            118.502.913             90.589.335   Value added tax - net

        Jumlah                                      121.349.752             90.589.335   Total

   b.   Utang Pajak                                                  b.     Taxes Payable

                                                         2024                2023

        Pajak penghasilan badan                           341.366              753.308   Corporate income tax
        Pajak penghasilan:                                                               Income taxes:
          Pasal 4 (2)                                      257.813           1.875.069      Article 4 (2)
          Pasal 15                                         150.590             169.547      Article 15
          Pasal 21                                               -             317.940      Article 21
          Pasal 22                                          12.810              44.874      Article 22
          Pasal 23                                       3.464.846           4.316.737      Article 23
        Pajak pertambahan nilai - bersih                   319.692             856.832   Value added tax - net

        Jumlah                                           4.547.117           8.334.307   Total




                                                         - 91 -
Page 249
PT GOLDEN ENERGY MINES Tbk                                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                   unless Otherwise Stated)


   c.   Estimasi Tagihan Pajak                                                   c.     Estimated Claims for Tax Refund

                                                                    2024                 2023

        Perusahaan                                                  1.195.362            1.263.053      The Company
        Entitas anak                                               23.712.425           10.513.839      Subsidiaries

        Jumlah estimasi tagihan pajak (Catatan 13)                 24.907.787           11.776.892      Total estimated claims for tax refund (Note 13)

   d.   Pajak Penghasilan                                                        d.     Corporate Income Tax

        Rincian dari beban pajak penghasilan adalah                                     Details of income tax expense are as follows:
        sebagai berikut:

                                                                   2024                  2023

        Perusahaan                                                                                      The Company
          Penyesuaian pajak penghasilan                                                                   Adjustment of prior year corporate
             badan tahun sebelumnya                                         -            1.371.707           income tax
          Tangguhan                                                   (80.361)              (6.702)       Deferred
        Jumlah                                                        (80.361)           1.365.005      Total

        Entitas Anak                                                                                    Subsidiaries
          Kini                                                    141.849.744          153.750.314        Current
          Penyesuaian pajak penghasilan                                                                   Adjustment of prior year corporate
              badan tahun sebelumnya                                8.824.664                    -          income tax
          Tangguhan                                                 2.034.540             (882.756)       Deferred
        Jumlah                                                    152.708.948          152.867.558      Total

        Jumlah beban pajak                                        152.628.587          154.232.563      Total tax expense


   e.   Hasil Pemeriksaan Pajak                                                   e.    Tax Assessment Results

         No.                         Jenis/Type                                                   Deskripsi/Description

         Periode yang Berakhir pada tanggal 31 Desember 2024/Period Ended December 31, 2024

         BORNEO

          1.           SKPKB PPh Badan tahun fiskal 2020              Pada tanggal 29 Juli 2024, BORNEO menerima Surat Ketetapan Pajak
                       sebesar US$ 655.732/                           Kurang Bayar (SKPKB) atas Pajak Penghasilan Badan untuk tahun fiskal
                       SKPKB of Corporate Income Tax for fiscal       2020 sebesar US$ 655.732 yang terdiri dari US$ 461.004 atas kekurangan
                       year 2020 amounting to US$ 149,254.            Pajak Penghasilan dan US$ 194.728 atas bunga. Pada tanggal 26 Agustus
                                                                      2024, BORNEO melakukan pembayaran atas SKPKB tersebut yang dicatat
                                                                      sebagai bagian dari akun "Beban (manfaat) pajak penghasilan badan - Kini -
                                                                      Penyesuaian pajak penghasilan badan tahun sebelumnya" pada laporan laba
                                                                      rugi dan penghasilan komprehensif lainnya konsolidasian/
                                                                      On July 29, 2024, BORNEO received SKPKB for Corporate Income Tax for
                                                                      fiscal year 2020 amounting to US$ 655,732, which consisted of US$ 461,004
                                                                      for income tax underpayment and US$ 194,728 for interest. On Agustus 26,
                                                                      2024, BORNEO settled the SKPKB which is recorded as part of “Corporate
                                                                      income tax expense (benefit) - Current - Adjustment of prior year corporate
                                                                      income tax" account in the consolidated statement of profit or loss and other
                                                                      comprehensive income.

          2.           SKPKB PPh Badan tahun fiskal 2023              Pada tanggal 26 Agustus 2024, BORNEO menerima Surat Ketetapan Pajak
                       sebesar US$ 5.870.280/                         Kurang Bayar (SKPKB) atas Pajak Penghasilan Badan untuk tahun fiskal
                       SKPKB of Corporate Income Tax for fiscal       2023 sebesar US$ 5.870.280 yang terdiri dari US$ 5.131.363 atas
                       year 2023 amounting to US$ 5,870,280.          kekurangan Pajak Penghasilan dan US$ 738.917 atas bunga. Pada tanggal
                                                                      25 September 2024, BORNEO melakukan pembayaran atas SKPKB tersebut
                                                                      yang dicatat sebagai bagian dari akun "Beban (manfaat) pajak penghasilan
                                                                      badan - Kini - Penyesuaian pajak penghasilan badan tahun sebelumnya" pada
                                                                      laporan laba rugi dan penghasilan komprehensif lainnya konsolidasian/
                                                                      On August 26, 2024, BORNEO received SKPKB for Corporate Income Tax for
                                                                      fiscal year 2023 amounting to US$ 5,870,280, which consisted of
                                                                      US$ 5,131,363 for income tax underpayment and US$ 738,917 for interest.
                                                                      On September 25, 2024, BORNEO settled the SKPKB which is recorded as
                                                                      part of “Corporate income tax expense (benefit) - Current - Adjustment of prior
                                                                      year corporate income tax" account in the consolidated statement of profit or
                                                                      loss and other comprehensive income.



                                                                     - 92 -
Page 250
PT GOLDEN ENERGY MINES Tbk                                                              PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                 AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                 As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                        (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                        unless Otherwise Stated)

         No.                    Jenis/Type                                               Deskripsi/Description

         Periode yang Berakhir pada tanggal 31 Desember 2024/Period Ended December 31, 2024

          3.      SKPKB PPh Badan tahun fiskal 2022          Pada tanggal 20 Desember 2024, BORNEO menerima Surat Ketetapan Pajak
                  sebesar US$ 2.298.652/                     Kurang Bayar (SKPKB) atas Pajak Penghasilan Badan untuk tahun fiskal
                  SKPKB of Corporate Income Tax for fiscal   2022 sebesar US$ 2.298.652 yang terdiri dari US$ 1.597.173 atas
                  year 2022 amounting to US$ 2,298,652.      kekurangan Pajak Penghasilan dan US$ 701.479 atas bunga. Pada tanggal
                                                             17 Januari 2025, BORNEO melakukan pembayaran atas SKPKB tersebut
                                                             yang dicatat sebagai bagian dari akun "Beban (manfaat) pajak penghasilan
                                                             badan - Kini - Penyesuaian pajak penghasilan badan tahun sebelumnya" pada
                                                             laporan laba rugi dan penghasilan komprehensif lainnya konsolidasian/
                                                             On December 20, 2024, BORNEO received SKPKB for Corporate Income Tax
                                                             for fiscal year 2022 amounting to US$ 2,298,652, which consisted of
                                                             US$ 1,597,173 for income tax underpayment and US$ 701,479 for interest.
                                                             On January 17, 2025, BORNEO settled the SKPKB which is recorded as part
                                                             of “Corporate income tax expense (benefit) - Current - Adjustment of prior year
                                                             corporate income tax" account in the consolidated statement of profit or loss
                                                             and other comprehensive income.

         Perusahaan/the Company

          1.      SKPKB PPh Badan tahun fiskal 2021          Pada tanggal 18 Januari 2023, Perusahaan menerima Surat Ketetapan Pajak
                  sebesar US$ 342.726/                       Kurang Bayar (“SKPKB”) atas Pajak Penghasilan Badan untuk tahun fiskal
                  SKPKB of Corporate Income Tax for the      2021 sebesar US$ 342.726, yang terdiri dari US$ 318.993 atas kekurangan
                  fiscal  year   2021   amounting     to     Pajak Penghasilan dan US$ 23.733 atas bunga. Pada tanggal 14 Februari
                  US$ 342,726.                               2023, Perusahaan melakukan pembayaran atas SKPKB tersebut dan
                                                             mencatat taksiran tagihan pajak Pasal 23 dan Pasal 24 yang tidak diterima
                                                             oleh Perusahaan, masing-masing sebesar Rp 5.497.807.949 (setara dengan
                                                             US$ 384.103) dan US$ 127.973. Pembayaran SKPKB dan taksiran tagihan
                                                             pajak Pasal 23 dan Pasal 24 tersebut dicatat sebagai bagian dari akun "Beban
                                                             (manfaat) pajak penghasilan badan - Kini - Penyesuaian pajak penghasilan
                                                             badan tahun sebelumnya" pada laporan laba rugi dan penghasilan
                                                             komprehensif lainnya konsolidasian/
                                                             On January 18, 2023, the Company received SKPKB for Corporate Income
                                                             Tax for fiscal year 2021 amounting to US$ 342,726, which consist of
                                                             US$ 318,993 for income tax underpayment and US$ 23,733 for interest. On
                                                             February 14, 2023, the Company paid the SKPKB and recorded estimated
                                                             claims for tax refund Article 23 and Article 24, which is not received by the
                                                             Company amounting to Rp 5,497,807,949 (equivalent to US$ 384,103) and
                                                             US$ 127,973, respectively. The payment of SKPKB and estimated claims for
                                                             income tax Article 23 and Article 24 are recorded as part of “Corporate income
                                                             tax expense (benefit) - Current - Adjustment of prior year corporate income
                                                             tax" account in the consolidated statement of profit or loss and other
                                                             comprehensive income.

         DSI

          1.      SKPKB PPh Badan tahun fiskal 2018          Pada tanggal 22 Juni 2023, DSI menerima Surat Ketetapan Pajak Kurang
                  sebesar US$ 149.254/                       Bayar (SKPKB) atas Pajak Penghasilan Badan untuk tahun fiskal 2018
                  SKPKB of Corporate Income Tax for fiscal   sebesar US$ 149.254, yang terdiri dari US$ 103.879 atas kekurangan Pajak
                  year 2018 amounting to US$ 149,254.        Penghasilan dan US$ 45.375 atas bunga. Pada tanggal 21 Juli 2023, DSI
                                                             melakukan pembayaran atas SKPKB tersebut. Pembayaran SKPKB tersebut
                                                             dicatat sebagai bagian dari akun "Beban (manfaat) pajak penghasilan badan
                                                             - Kini - Penyesuaian pajak penghasilan badan tahun sebelumnya" pada
                                                             laporan laba rugi dan penghasilan komprehensif lainnya konsolidasian/
                                                             On June 22, 2023, DSI received SKPKB for Corporate Income Tax for fiscal
                                                             year 2018 amounting to US$ 149,254, which consist of US$ 103,879 for
                                                             income tax underpayment and US$ 45,375 for interest. On July 21, 2023, DSI
                                                             paid the SKPKB. The payment of SKPKB is recorded as part of “Corporate
                                                             income tax expense (benefit) - Current - Adjustment of prior year corporate
                                                             income tax" account in the consolidated statement of profit or loss and other
                                                             comprehensive income.




                                                             - 93 -
Page 251
PT GOLDEN ENERGY MINES Tbk                                                                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                     unless Otherwise Stated)


   Rekonsiliasi Fiskal                                                                                           Fiscal Reconciliation

   Rekonsiliasi fiskal antara laba (rugi) sebelum pajak                                                          A reconciliation between profit (loss) before
   penghasilan badan, sebagaimana tercantum dalam                                                                corporate income tax, as shown in the consolidated
   laporan laba rugi dan penghasilan komprehensif lain                                                           statement of profit or loss and other comprehensive
   konsolidasian, dengan penghasilan kena pajak                                                                  income, and taxable income is as follows:
   adalah sebagai berikut:

                                                                                     2024                          2023

    Laba sebelum pajak penghasilan badan                                                                                                 Profit before tax per consolidated
       menurut laporan laba rugi dan penghasilan                                                                                           statements of profit or loss and
       komprehensif lain konsolidasian                                            635.760.266                   682.980.975                other comprehensive income
    Dikurangi:                                                                                                                           Less:
       Laba sebelum pajak entitas anak                                            (646.609.203)                (679.837.728)               Profit before tax of the subsidiaries
    Laba (rugi) sebelum pajak Perusahaan                                           (10.848.937)                     3.143.247            Profit (loss) before tax - the Company

    Perbedaan temporer:                                                                                                                  Temporary differences:
      Amortisasi aset pertambangan dari                                                                                                    Amortization of mine properties from
         kombinasi bisnis                                                                 436.776                        411.454              business combination
      Beban imbalan kerja                                                                  73.061                         63.622           Employee benefits expense
      Selisih penyusutan fiskal dan                                                                                                        Difference in fiscal and commercial
         komersial                                                                        (20.125)                       (33.157)             depreciation

    Perbedaan tetap:                                                                                                                     Permanent differences:
      Pendapatan yang pajak                                                                                                                Income already subjected to final
         penghasilannya bersifat final                                              (3.770.055)                    (3.877.532)                income tax
      Aset hak-guna                                                                     23.965                        (36.316)             Right-of-use assets
      Kerugian penurunan nilai                                                       7.835.487                              -              Impairment losses
      Beban yang tidak dapat dikurangkan                                                 9.406                         37.085              Non-deductible expenses

    Rugi fiskal                                                                     (6.260.422)                         (291.597)        Fiscal loss

   Pajak Tangguhan                                                                                               Deferred Taxes

   Rincian pajak tangguhan adalah sebagai berikut:                                                               The details of the deferred tax are as follows:

                                                            Dibebankan (Dikreditkan) pada/ Charged (Credited) to
                                                                                                 Selisih kurs/
                                          1 Januari 2024/    Laba Rugi/        Ekuitas/       Foreign exchange              Penyesuaian/         31 Desember 2024/
                                          January 1, 2024   Profit or Loss      Equity            difference                 Adjustment          December 31, 2024

    Aset pajak tangguhan                                                                                                                                             Deferred tax assets
      Rugi fiskal                             5.119.353       (1.996.771)                   -             (195.631)                        -             2.926.951     Fiscal loss
      Aset aktivitas pengupasan
          lapisan tanah                         726.038                                     -                   52                         -               726.090      Stripping activity assets
      Aset tetap                                498.494         131.671                     -             (130.334)                        -               499.831      Property and equipment
      Liabiltas imbalan kerja                   844.619         151.070               (42.611)             (40.286)                        -               912.792      Employee benefits liability
      Penyisihan reklamasi dan                                                                                                                                          Provision for reclamation and
          penutupan tambang                   1.314.434             80.214                  -                 (42.892)                     -             1.351.756          mine closure
    Jumlah                                    8.502.938       (1.633.816)             (42.611)            (409.091)                        -             6.417.420   Total

    Liabilitas pajak tangguhan                                                                                                                                       Deferred tax liabilities
       Aset pertambangan dari kombinasi                                                                                                                                Mine properties from
            bisnis                           23.026.168             (88.728)                -                       -           (7.185.195)             15.752.245         business combination


                                                                        Dibebankan (Dikreditkan) pada/ Charged (Credited) to
                                                                                                             Selisih kurs/
                                                1 Januari 2023/          Laba Rugi/        Ekuitas/       Foreign exchange                     31 Desember 2023/
                                                January 1, 2023         Profit or Loss      Equity            difference                       December 31, 2023

    Aset pajak tangguhan                                                                                                                                             Deferred tax assets
      Rugi fiskal                                     4.564.025                526.074                    -                    29.254                  5.119.353       Fiscal loss
      Aset aktivitas pengupasan
          lapisan tanah                                   726.061                    -                   -                        (23)                   726.038        Stripping activity assets
      Aset tetap                                          475.727               88.718                   -                    (65.951)                   498.494        Property and equipment
      Liabiltas imbalan kerja                             598.133              135.618              64.759                     46.109                    844.619        Employee benefits liability
      Penyisihan reklamasi dan                                                                                                                                          Provision for reclamation and
          penutupan tambang                           1.275.293                 74.294                    -                   (35.153)                 1.314.434            mine closure

    Jumlah                                            7.639.239                824.704              64.759                    (25.764)                 8.502.938     Total

    Liabilitas pajak tangguhan                                                                                                                                       Deferred tax liabilities
       Aset pertambangan dari kombinasi                                                                                                                                Mine properties from
            bisnis                                   23.116.688                (90.520)                   -                          -                23.026.168           business combination




                                                                                                 - 94 -
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PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   Manajemen berpendapat bahwa aset pajak                            Management believes that deferred tax assets can
   tangguhan dapat terpulihkan seluruhnya terhadap                   be utilized against future taxable income before the
   penghasilan kena pajak dimasa yang akan datang                    utilization period of fiscal losses expires.
   sebelum masa manfaat pajak tersebut berakhir.

   Rekonsiliasi antara beban pajak dan hasil perkalian               The reconciliation between the total tax expense
   laba sebelum pajak Perusahaan dengan tarif pajak                  and the amounts computed by applying the effective
   yang berlaku adalah sebagai berikut:                              tax rate to profit before tax of the Company is as
                                                                     follows:

                                                     2024              2023

    Laba sebelum pajak penghasilan badan                                             Profit before tax per consolidated
       menurut laporan laba rugi dan penghasilan                                       statements of profit or loss and
       komprehensif lain konsolidasian             635.760.266       682.980.975       other comprehensive income
    Dikurangi:                                                                       Less:
       Laba sebelum pajak entitas anak             (646.609.203)     (679.837.728)     Profit before tax of the subsidiaries
    Laba (rugi) sebelum pajak Perusahaan            (10.848.937)        3.143.247    Profit (loss) before tax - the Company
    Beban (penghasilan) pajak dengan
      tarif yang berlaku                             (2.386.766)         691.514     Tax expense (benefit) at effective tax rate

    Penyesuaian pajak penghasilan badan                                              Adjustment of prior year corporate
      tahun sebelumnya                                         -        1.371.707      income tax
    Aset pajak tangguhan atas                                                        Unrecognized deferred tax
       rugi fiskal yang tidak diakui                  1.377.293           64.151        asset on fiscal loss
    Selisih kurs karena penjabaran                                                   Exchange difference due to financial
      laporan keuangan                                  27.376            90.521       statements translation

    Pengaruh atas perbedaan tetap:                                                   Tax effect of permanent differences:
      Pendapatan keuangan yang
        dikenakan pajak final                          (829.412)         (853.057)     Finance income subject to final tax
      Aset hak guna                                       5.273            (7.990)     Right-of-use assets
      Kerugian penurunan nilai                        1.723.806                 -      Impairment losses
      Beban yang tidak dapat dikurangkan                  2.069             8.159      Non-deductible expense
    Perusahaan                                          (80.361)        1.365.005    The Company
    Entitas anak                                   152.708.948       152.867.558     Subsidiaries

    Beban pajak penghasilan                        152.628.587       154.232.563     Total tax expense


   Tarif Pajak                                                       Tax Rates

   Pada tanggal 7 Oktober 2021, Dewan Perwakilan                     On October 7, 2021, the House of Representatives
   Rakyat Republik Indonesia mengesahkan Undang-                     of the Republic of Indonesia passed the Law on the
   Undang Harmonisasi Peraturan Perpajakan, yang                     Harmonization of Tax Regulations, which stipulates
   antara lain menetapkan Tarif pajak penghasilan                    a corporate income tax rate of 22%. The Company
   badan adalah sebesar 22%. Perusahaan sebagai                      as a domestic public company taxpayer with a total
   wajib pajak perusahaan publik dalam negeri dengan                 number of shares on the stock exchange of
   jumlah saham beredar pada bursa efek di Indonesia                 Indonesia of at least 40% meeting certain
   paling sedikit 40% dan memenuhi persyaratan                       requirements of Government Regulation, can avail
   tertentu sebagaimana diatur berdasarkan Peraturan                 of further 3% reduction from the tax rate as
   Pemerintah, memperoleh tarif 3% lebih rendah dari                 mentioned above.
   tarif pajak penghasilan badan yang disebutkan di
   atas.

   Grup menerapkan tarif pajak penghasilan badan                     The Group has adopted the change of the new
   tersebut dalam perhitungan pajaknya.                              corporate income tax rate in computing its income
                                                                     taxes.




                                                            - 95 -
Page 253
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


34. Laba per Saham                                              34. Earnings per Share

   Perhitungan laba per saham dasar adalah sebagai                  The calculation of basic earnings per share follows:
   berikut:

                                                   2024                  2023
    Laba yang dapat diatribusikan kepada                                            Profit attributable to owners of
      Pemilik Entitas Induk (dalam US$)          473.806.214        518.380.664       the Parent Company (in US$)

    Rata-rata tertimbang jumlah saham beredar                                       Weighted average number of shares
      selama tahun berjalan                     5.882.353.000      5.882.353.000     outstanding during the year

    Laba per saham dasar (dalam US$)                   0,081                0,088   Basic earnings per share (in US$)



35. Transaksi dengan Pihak Berelasi                             35. Transactions with Related Parties

   Sifat Pihak Berelasi                                             Nature of Relationships

   Sifat hubungan dengan pihak berelasi adalah                      The nature of the related party relationship is as
   sebagai berikut:                                                 follows:

   a.    Perusahaan     yang     berada     di   bawah              a.     The Company under common control, i.e.
         pengendalian bersama melalui sebagian                             having the same ownership and/or directors
         kepemilikan yang sama dan/atau memiliki                           and/or commissioners with the Group.
         sebagian direksi dan/atau komisaris yang sama
         dengan Grup.

    b.   Perusahaan yang berada di bawah Grup                       b.     The companies under the Sinarmas Group.
         Sinarmas.

    c.   PT Indah Kiat Pulp & Paper Tbk,                            c.     PT Indah Kiat Pulp & Paper Tbk,
         PT Lontar Papyrus Pulp & Paper Industry dan                       PT Lontar Papyrus Pulp & Paper Industry
         PT Pabrik Kertas Tjiwi Kimia Tbk adalah pihak                     and PT Pabrik Kertas Tjiwi Kimia Tbk are
         berelasi karena hubungan keluarga dengan                          related parties due to family relationships with
         pemegang saham akhir, tetapi tidak memiliki:                      the ultimate shareholders, but do not have:
         (i) pengaruh signifikan; (ii) kesamaan                            (i) significant influence; (ii) common control and
         pengendalian dan kepemilikan; dan (iii)                           ownership; and (iii) similarity of key
         kesamaan personil manajemen kunci.                                management personel.

    d.   PT Cipta Kridatama, PT Trakindo Utama,                     d.     PT Cipta Kridatama, PT Trakindo Utama,
         dan PT Tunas Inti Abadi merupakan                                 and PT Tunas Inti Abadi belong to the same
         perusahaan dalam satu Grup dengan                                 Group of PT Radhika Jananta Raya,
         PT Radhika Jananta Raya, pemegang saham.                          a shareholder.

   Tidak terdapat transaksi dengan pihak berelasi baik              There are no transactions with related parties that
   yang langsung atau tidak langsung berhubungan                    directly or indirectly related with main business of
   dengan kegiatan usaha utama Grup, yang                           the Group and identified as conflict of interest based
   didefinisikan    sebagai     transaksi   benturan                on OJK Regulation (POJK) No. 42/POJK.04/2020
   kepentingan berdasarkan peraturan OJK (POJK)                     regarding “Affiliated Transactions and Conflict of
   No. 42/POJK.04/2020 tentang “Transaksi Afiliasi                  Interest Transactions”.
   dan Transaksi Benturan Kepentingan“.




                                                          - 96 -
Page 254
PT GOLDEN ENERGY MINES Tbk                                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                      unless Otherwise Stated)


   Transaksi dengan Pihak Berelasi                                                  Transactions with Related Parties

   a.   Akun-akun terkait transaksi dengan pihak                                    a.      The accounts involving transactions with
        berelasi adalah sebagai berikut:                                                    related parties are as follows:

                                                                                        Persentase terhadap Jumlah
                                                                                              Aset/Liabilitas/
                                                                                    Percentage to Total Assets/Liabilities
                                                       2024            2023              2024                   2023
                                                                                           %                     %
        Aset Lancar                                                                                                            Current Assets
        Kas dan setara kas                                                                                                     Cash and cash equivalents
          PT Bank Sinarmas Tbk                          32.627.796     52.681.873                  2,63                4,02      PT Bank Sinarmas Tbk
          PT Bank Nano Syariah (dahulu PT Bank                                                                                   PT Bank Nano Syariah (formerly PT Bank
             Sinarmas Tbk - Unit Usaha Syariah)          5.704.086       325.827                   0,46                0,02         Sinarmas Tbk - Sharia Business Unit)
        Jumlah                                          38.331.882     53.007.700                  3,09                4,04      Total

        Piutang usaha                                                                                                          Trade receivables
           PT Indah Kiat Pulp & Paper Tbk                2.977.575      7.365.266                  0,24                0,56       PT Indah Kiat Pulp & Paper Tbk
           PT DSSP Power Kendari                         5.535.666      5.426.843                  0,45                0,41       PT DSSP Power Kendari
           PT Sinar Mas Agro Resources and                                                                                        PT Sinar Mas Agro Resources and
              Technology Tbk                             1.249.358      2.201.629                  0,10                0,17         Technology Tbk
           PT Ivo mas Tunggal                              615.009              -                  0,05                 -         PT Ivo mas Tunggal
           PT Lontar Papyrus Pulp & Paper                                                                                         PT Lontar Papyrus Pulp & Paper
              Industry                                    450.354       1.783.262                  0,04                0,14         Industry
           PT Sinarmas Bio Energi                               -         541.361                     -                0,04       PT Sinarmas Bio Energi
           PT Soci Mas                                          -         725.472                     -                0,06       PT Soci Mas

        Jumlah                                          10.827.962     18.043.833                  0,88                1,38    Total

        Uang muka dan biaya dibayar dimuka                                                                                     Advances and prepaid expenses
          Uang muka                                                                                                              Advances
             Perbaikan dan pemeliharaan jalan                                                                                       Road repairs and maintenance
               PT Hutan Rindang Banua                    1.763.711      1.431.597                  0,14                0,11           PT Hutan Rindang Banua
          Biaya dibayar dimuka - Asuransi                                                                                        Prepaid expenses - Insurance
             PT Asuransi Sinarmas                              2.794        2.712                  0,00                0,00         PT Asuransi Sinarmas
        Jumlah                                           1.766.505      1.434.309                  0,14                0,11      Total

        Aset Tidak Lancar                                                                                                      Non-current Assets

        Dana yang dibatasi pencairannya                                                                                        Restricted funds
          PT Bank Sinarmas Tbk                                 6.882        7.215                  0,00                0,00      PT Bank Sinarmas Tbk

        Aset pertambangan - Aktivitas                                                                                          Mine properties - Stripping
          pengupasan tanah                                                                                                       activity assets
          PT Cipta Kridatama                                       -   18.730.654                     -                1,43      PT Cipta Kridatama

        Aset tidak lancar lainnya                                                                                              Other non-current assets
          Uang jaminan                                                                                                           Guarantee deposits
              Sewa gedung, kendaraan                                                                                                Building, vehicle and heavy
                 dan alat berat                                                                                                        equipment rental
                 PT Royal Oriental                        245.304        403.851                   0,02                0,03            PT Royal Oriental
              Lain-lain                                                                                                          Others
                 PT Royal Oriental                            28.212      29.577                   0,00                0,00         PT Royal Oriental
        Jumlah                                            273.516        433.428                   0,02                0,03    Total

        Liabilitas Jangka Pendek                                                                                               Current Liabilities

        Utang usaha                                                                                                            Trade payables
           PT Cipta Kridatama                           53.646.974     47.598.656                  9,27                7,33       PT Cipta Kridatama
           PT Hutan Rindang Banua                          524.424        141.626                  0,09                0,02       PT Hutan Rindang Banua
           PT Indah Kiat Pulp & Paper Tbk                  515.211        690.635                  0,09                0,11       PT Indah Kiat Pulp & Paper Tbk
           PT Smartfren Telecom Tbk                        294.178              -                  0,05                   -       PT Smartfren Telecom Tbk
           PT Royal Oriental                               257.306          2.676                  0,04                0,00       PT Royal Oriental
           PT Tunas Inti Abadi                             245.887      2.662.012                  0,04                0,41       PT Tunas Inti Abadi
           PT Rolimex Kimia Nusamas                        135.881        145.936                  0,02                0,02       PT Rolimex Kimia Nusamas
           PT Lontar Papyrus Pulp and Paper Industry         7.979              -                  0,00                   -       PT Lontar Papyrus Pulp and Paper Industry
           PT Ivo Mas Tunggal                                5.034          5.278                  0,00                0,00       PT Ivo Mas Tunggal
           PT Smart Telecom                                    969        524.740                  0,00                0,08       PT Smart Telecom
           PT Sinarmas Teladan                                  71              -                  0,00                   -       PT Sinarmas Teladan
           PT Trakindo Utama                                    45         20.933                  0,00                0,00       PT Trakindo Utama
        Jumlah                                          55.633.959     51.792.492                  9,60                 7,98   Total

        Utang lain-lain                                                                                                        Other payables
           PT Pabrik Kertas Tjiwi Kimia Tbk                    8.951        9.384                  0,00                0,00      PT Pabrik Kertas Tjiwi Kimia Tbk

        Beban akrual                                                                                                           Accrued expenses
          Perbaikan dan pemeliharaan jalan                                                                                       Road repairs and maintenance
            PT Wirakarya Sakti                            111.265        116.650                   0,02                0,02         PT Wirakarya Sakti




                                                                        - 97 -
Page 255
PT GOLDEN ENERGY MINES Tbk                                                                 PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                    AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                      Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                    As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                           (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                           unless Otherwise Stated)

                                                                          Persentase terhadap Jumlah
                                                                            Pendapatan/Beban yang
                                                                                 Bersangkutan/
                                                                         Percentage to Total Respective
                                                                              Revenues/Expenses
                                              2024          2023            2024               2023
                                                                             %                   %

        Pendapatan Usaha                                                                                    Revenues
          PT Indah Kiat Pulp & Paper Tbk     144.686.740   146.922.494            5,35               5,06     PT Indah Kiat Pulp & Paper Tbk
          PT Lontar Papyrus Pulp and                                                                          PT Lontar Papyrus Pulp and
            Paper Industry                    37.817.352    36.823.785            1,40               1,27       Paper Industry
          PT DSSP Power Kendari               29.051.028    29.593.205            1,07               1,02     PT DSSP Power Kendari
          PT Sinar Mas Agro Resources                                                                         PT Sinar Mas Agro Resources
            and Technology Tbk                11.853.345    14.061.713            0,44               0,48       and Technology Tbk
          PT SOCI Mas                          2.664.853     4.386.988            0,10               0,15     PT SOCI Mas
          PT Ivo Mas Tunggal                   4.143.541     2.321.489            0,15               0,08     PT Ivo Mas Tunggal
          PT Sinarmas Bio Energi               2.903.327     5.875.653            0,11               0,20     PT Sinarmas Bio Energi
        Jumlah                               233.120.186   239.985.327            8,62               8,27   Total

        Beban pokok penjualan                                                                               Cost of sales
          Jasa penambangan                                                                                    Mining services
            PT Cipta Kridatama               304.605.655   180.260.239           19,03             10,27         PT Cipta Kridatama
          Overhead pertambangan                                                                               Mining overhead
            PT Rolimex Kimia Nusamas           1.479.017      918.791             0,09               0,05        PT Rolimex Kimia Nusamas
          Sewa peralatan                                                                                      Equipment rental
            PT Cipta Kridatama                  154.805              -            0,01                -          PT Cipta Kridatama
        Jumlah                               306.239.477   181.179.030           19,13             10,32    Total

        Beban penjualan                                                                                     Selling expenses
          Jasa stockpile                                                                                      Stockpile services
            PT Tunas Inti Abadi                6.533.315     9.478.532            2,22               3,00         PT Tunas Inti Abadi
          Perbaikan dan pemeliharaan jalan                                                                    Repairs and maintenance
            PT Wirakarya Sakti                  936.000       936.000             0,32               0,30         PT Wirakarya Sakti
        Jumlah                                 7.469.315    10.414.532            2,54               3,30   Total

        Beban umum dan admininstrasi                                                                        General and administrative expenses
          Asuransi                                                                                            Insurance
             PT Asuransi Sinarmas               359.544       350.250             0,21               0,26        PT Asuransi Sinarmas
          Perbaikan dan pemeliharaan                                                                          Repair and maintenance
             PT Trakindo Utama                   36.287        22.422             0,02               0,02        PT Trakindo Utama
          Lain-lain                                                                                           Others
             PT Smartfren Telecom Tbk            16.330             -             0,01                  -        PT Smartfren Telecom Tbk
             PT Smart Telecom                     1.136        12.395             0,00               0,01        PT Smart Telecom
        Jumlah                                  413.297       385.067             0,24               0,29   Total

        Pendapatan bunga                                                                                    Interest income
          Jasa giro                                                                                            Current accounts
            PT Bank Sinarmas Tbk                 18.961        14.445             0,18               0,13         PT Bank Sinarmas Tbk


   b.   Perusahaan mempunyai kontrak asuransi                            b.     The Group has insurance contracts with
        dengan PT Asuransi Sinarmas dalam rangka                                PT Asuransi Sinarmas in relation to insurance
        asuransi aset tetap tertentu (Catatan 9).                               of certain property and equipment (Note 9).

   c.   Kompensasi Manajemen Kunci                                       c.     Key Management Compensation

        Jumlah imbalan kerja jangka pendek yang                                 Total short-term employee benefits paid to or
        dibayar atau diakru kepada Dewan Komisaris                              accrued for the Group’s Boards of
        dan Direksi masing-masing sebesar ekuivalen                             Commissioners and Directors amounted to
        US$ 5.439.001 dan US$ 3.309.248 untuk tahun                             equivalent     to  US$     5,439,001     and
        yang berakhir pada tanggal 31 Desember 2024                             US$     3,309,248,   respectively, for    the
        dan 2023 (tidak diaudit).                                               years ended December 31, 2024 and 2023
                                                                                (unaudited).




                                                              - 98 -
Page 256
PT GOLDEN ENERGY MINES Tbk                                                                 PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                    AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                      Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                    As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                           (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                           unless Otherwise Stated)


   d.   Perjanjian Signifikan dengan Pihak Berelasi                      d.     Significant Agreements with Related Parties

                                                      Jatuh Tempo/
            Pihak/Party         Jenis/Type              Maturities                                Deskirpsi/Description

         PT Purinusa        Perjanjian Jual Beli   30 September 2010             Perusahaan dan entitas anaknya (sebagai penjual)
         Ekapersada dan       Batubara/Coal         s.d 31 Desember              mengadakan perjanjian jual beli batubara dengan
         entitas anak       Sale and Purchase      2025/September 30,            PT Purinusa Ekapersada dan entitas anaknya (sebagai
                                Agreement              2010 up to                pembeli)/
                                                   December 31, 2025             The Company and its subsidiaries (as the seller) entered
                                                                                 into a coal sale and purchase agreement with PT Purinusa
                                                                                 Ekapersada and its subsidiaries (as the buyer).

         PT Andalan         Perjanjian Jual Beli   5 April 2016 s.d 4            WRL (sebagai penjual) mengadakan perjanjian jual beli
         Satria Lestari       Batubara/Coal          Oktober 2031/               batubara dengan ASL (sebagai pembeli), dimana
         (ASL)              Sale and Purchase      April 5, 2016 up to           berdasarkan Addendum III pada tanggal 4 Oktober 2021,
                                Agreement           October 4, 2031              perjanjian diperpanjang untuk periode 10 tahun dan dapat
                                                                                 diperpanjang sesuai dengan kesepakatan tertulis para
                                                                                 pihak/
                                                                                 WRL (as the seller) entered into coal sale and purchase
                                                                                 agreement with ASL (as the buyer), which based on
                                                                                 Addenddum III on October 4, 2021, the agreement has
                                                                                 extended for a period 10 years and can be extended upon
                                                                                 written consent of both parties.

         PT Royal            Perjanjian Sewa       27 Agustus 2012 s.d           Perusahaan (pihak yang menyewa) mengadakan perjanjian
         Oriental            Menyewa Ruang         31 Desember 2024/             sewa menyewa ruang kantor dengan RO (pihak yang
         (RO)                 Kantor/Office          August 27, 2012             menyewakan), dimana RO sepakat untuk menyewakan
                              Space Rental                up to                  ruang kantor yang berlokasi di Sinarmas Land Building
                              Agreements              December 31,               Menara 2 Lantai 6/
                                                         2024 *)                 The Company (as the lessee) entered into office space
                                                                                 rental agreements with RO (as the lessor), where RO
                                                                                 agreed to rent an office space which located at Sinarmas
                                                                                 Land Building on Tower 2 6th Floor.

         RO                  Perjanjian Sewa       15 September 2021             BORNEO (pihak yang menyewa) mengadakan perjanjian
                             Menyewa Ruang          s.d 31 Desember              sewa menyewa ruang kantor dengan RO (pihak yang
                              Kantor/Office        2024/September 15,            menyewakan), dimana RO sepakat untuk menyewakan
                              Space Rental             2021 up to                ruang kantor yang berlokasi di Sinarmas Land Building
                              Agreements              December 31,               Menara 2 Lantai 6/
                                                         2024 *)                 BORNEO (as the lessee) entered into office space rental
                                                                                 agreements with RO (as the lessor), where RO agreed to
                                                                                 rent an office space which located at Sinarmas Land
                                                                                 Building on Tower 2 6th Floor.

         RO                  Perjanjian Sewa       22 November 2021              BORNEO (pihak yang menyewa) mengadakan perjanjian
                             Menyewa Ruang                 s.d                   sewa menyewa ruang kantor dengan RO (pihak yang
                              Kantor/Office        31 Desember 2024/             menyewakan), dimana RO sepakat untuk menyewakan
                              Space Rental         November 22, 2021             ruang kantor yang berlokasi di Sinarmas Land Building
                              Agreements           up to December 31,            Menara 2 Lantai 7/
                                                         2024 *)                 BORNEO (as the lessee) entered into office space rental
                                                                                 agreements with RO (as the lessor), where RO agreed to
                                                                                 rent an office space which located at Sinarmas Land
                                                                                 Building on Tower 2 7th Floor.

         RO                  Perjanjian Sewa       5 Desember 2023               BBU (pihak yang menyewa) mengadakan perjanjian sewa
                                Menyewa             s.d 4 Desember               menyewa basement dengan RO (pihak yang menyewakan),
                               Basement/           2026/December 5,              dimana RO sepakat untuk menyewakan basement yang
                             Basement Rental           2023 up to                berlokasi di Sinarmas Land Building Menara 3/
                               Agreements          December 4, 2026              BBU (as the lessee) entered into basement rental
                                                                                 agreements with RO (as the lessor), where RO agreed to
                                                                                 rent basement which located at Sinarmas Land Building on
                                                                                 Tower 3.




                                                          - 99 -
Page 257
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)

                                                 Jatuh Tempo/
            Pihak/Party      Jenis/Type            Maturities                                 Deskirpsi/Description

         PT Wirakarya         Perjanjian       9 Agustus 2011 s.d          KIM dan beberapa entitas anaknya (KCP, BBU, BHBA, BNP
         Sakti            Penggunaan dan         KIM dan entitas           dan TBBU) mengadakan Perjanjian Penggunaan dan
         (WKS)            Perawatan Jalan     anaknya melakukan            Perawatan Jalan Akses untuk Kegiatan Pengangkutan
                             Akses untuk              kegiatan             Batubara dengan WKS, pihak berelasi, pengelola kawasan
                            Pengangkutan          penambangan              HTI, serta PT Andalan Nusantara Sejahtera (ANS), pihak
                          Batubara/Use and         batubara dan            ketiga, Perusahaan yang ditunjuk WKS untuk melakukan
                           Maintenance of        selama izin Hak           perawatan jalan akses sepanjang 126,61 km (Jalan Akses)/
                           Access Road for    Pengusahaan Hutan            KIM and its certain subsidiaries (KCP, BBU, BHBA, BNP and
                             Coal Hauling       Tanaman Industri           TBBU) entered into a Use and Maintenance of Access Road
                              Agreement       (HPHTI) WKS masih            for Coal Hauling Agreement with WKS, a related party,
                                                berlaku/August 9,          management of an Industrial Forest Concession (HTI), and
                                               2011 up to KIM and          PT Andalan Nusantara Sejahtera (ANS), a third party, the
                                                  its subsidiaries         Company appointed by WKS to conduct maintenance of
                                              conduct coal mining          access road of 126.61 km (Access Road).
                                                 activities and as
                                                   long as WKS’
                                                 Industrial Forest
                                                Concession Rights
                                               (HPHTI) is still valid

         PT Tunas Inti         Perjanjian     26 Oktober 2010 s.d          BORNEO          mengadakan        Perjanjian     Kerjasama
         Abadi              Pemeliharaan       16 Februari 2036/           Pemeliharaan Jalan Hauling Batubara dengan TIA.
         (TIA)               Jalan Hauling    October 26, 2010 up          Perjanjian tersebut meliputi perawatan jalan sehingga dapat
                               Batubara/        to February 16,            dilintasi BORNEO/
                          Maintenance Road           2036                  BORNEO entered into Maintenance Road for Coal Hauling
                           for Coal Hauling                                Cooperation Agreement with TIA. This agreement includes
                              Agreement                                    road maintenance so that BORNEO can pass by.

         PT Cipta          Perjanjian Jasa     14 Februari 2020            KIM     mengadakan         Perjanjian    Kerjasama       Jasa
         Kridatama         Pertambangan/      s.d 2 Oktober 2027/          Pertambangan dengan CK untuk jangka waktu sampai
         (CK)               Coal Mining        February 14, 2020           dengan 2 Oktober 2027 atau tercapainya volume
                             Agreement               up to                 overburden kumulatif Kelompok Usaha KIM sebesar
                                                October 2, 2027            226.000.000 BCM, yang mana tercapai terlebih dahulu/
                                                                           KIM has entered into a Coal Mining Agreement with CK,
                                                                           which shall be valid until October 2, 2027 or until KIM Group
                                                                           achieved cumulative 226,000,000 BCM Overburden,
                                                                           whichever comes first.

         CK                Perjanjian Jasa     14 Februari 2020            KCP     mengadakan        Perjanjian    Kerjasama       Jasa
                           Pertambangan/              s.d                  Pertambangan dengan CK untuk jangka waktu sampai
                            Coal Mining        24 Oktober 2028/            dengan 24 Oktober 2028 atau tercapainya volume
                             Agreement         February 14, 2020           overburden kumulatif Kelompok Usaha KIM sebesar
                                                     up to                 226.000.000 BCM, yang mana tercapai terlebih dahulu/
                                               October 24, 2028            KCP has entered into a Coal Mining Service Agreement with
                                                                           CK, which shall be valid until October 24, 2028 or until KIM
                                                                           Group achieved cumulative 226,000,000 BCM Overburden,
                                                                           whichever comes first.

         CK                Perjanjian Jasa     14 Februari 2020            BBU     mengadakan        Perjanjian      Kerjasama       Jasa
                           Pertambangan/        s.d 9 Juli 2029/           Pertambangan dengan CK untuk jangka waktu sampai
                            Coal Mining        February 14, 2020           dengan 9 Juli 2029 atau tercapainya volume overburden
                             Agreement                up to                kumulatif Kelompok Usaha KIM sebesar 226.000.000 BCM,
                                                  July 9, 2029             yang mana tercapai terlebih dahulu/
                                                                           BBU has entered into a Coal Mining Service Agreement with
                                                                           CK, which shall be valid until July 9, 2029 or until KIM Group
                                                                           achieved cumulative 226,000,000 BCM Overburden,
                                                                           whichever comes first.

         CK                Perjanjian Jasa     14 Februari 2020            BBM     mengadakan       Perjanjian     Kerjasama      Jasa
                           Pertambangan/              s.d                  Pertambangan dengan CK untuk jangka waktu sampai
                            Coal Mining         2 Oktober 2027/            dengan 2 Oktober 2027 atau tercapainya volume
                             Agreement         February 14, 2020           overburden kumulatif Kelompok Usaha KIM sebesar
                                                     up to                 226.000.000 BCM, yang mana tercapai terlebih dahulu/
                                                October 2, 2027            BBM has entered into a Coal Mining Service Agreement with
                                                                           CK, which shall be valid until October 2, 2027 or until KIM
                                                                           Group achieved cumulative 226,000,000 BCM Overburden,
                                                                           whichever comes first.

         CK                Perjanjian Jasa    22 Oktober 2021 s.d          BORNEO mengadakan Perjanjian Kerjasama Jasa
                           Pertambangan/       16 Februari 2036/           Pertambangan dengan CK untuk jangka waktu sampai
                            Coal Mining        October 22, 2021            dengan 16 Februari 2036/
                             Agreement               up to                 BORNEO has entered into a Coal Mining Service
                                               February 16, 2036           Agreement with CK, which shall be valid until
                                                                           February 16, 2036.




                                                      - 100 -
Page 258
PT GOLDEN ENERGY MINES Tbk                                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                    unless Otherwise Stated)

                                                                 Jatuh Tempo/
            Pihak/Party                Jenis/Type                  Maturities                                 Deskirpsi/Description

         CK                         Perjanjian Sewa           22 Oktober 2021 s.d         BORNEO mengadakan Perjanjian Sewa Menyewa Alat
                                     Menyewa Alat             31 Desember 2025/           Berat dengan CK untuk jangka waktu sampai dengan
                                     Berat/Heavy               October 22, 2021           31 Desember 2025/
                                   Equipment Rental                  up to                BORNEO has entered into a Heavy Equipment Rental
                                      Agreement               December 31, 2025           Agreement with CK, which shall be valid until
                                                                                          December 31, 2025.

         PT Hutan                     Perjanjian              29 Januari 2015 s.d         BORNEO menandatangani Kerjasama Perawatan dan
         Rindang Banua              Perawatan dan              17 Februari 2036/          Traffic Management Jalan di areal konsensi dengan HRB,
         (HRB)                          Traffic                January 29, 2015           dengan maksud dan tujuan untuk melakukan kerjasama
                                     Management                      up to                perawatan dan traffic management jalan sehingga dapat
                                     Jalan/Road                February 17, 2036          dilalui bersama oleh para pihak/
                                   Maintenance and                                        BORNEO entered into a Cooperation Agreements For Road
                                        Traffic                                           Maintenance and Traffic Management in HRB’s area, in
                                     Management                                           which the intent and purpose of road maintenance and traffic
                                      Agreement                                           management cooperation is such that road can be passed
                                                                                          along by the parties.

         HRB                        Perjanjian Jasa           22 Juni 2020 s.d 42         BORNEO menandatangani Perjanjian Jasa Kegiatan
                                       Kegiatan                bulan atau sampai          Rehabilitasi dan Revegetasi Daerah Aliran Sungai dengan
                                    Rehabilitasi dan                  dengan              HRB, dimana BORNEO melakukan kegiatan Rehabilitasi
                                     Revegetasi/                 diselesaikannya          dan Revegetasi Daerah Aliran Sungai seluas 1.248 Ha dan
                                   Rehabilitation and          seluruh pekerjaan,         kegiatan lain yang mendukung kegiatan rehabilitasi Daerah
                                     Revegetation                yang dibuktikan          Aliran Sungai sesuai dengan rencana kerja di Desa Kalaan,
                                       Services                       dengan              Desa Rantau Bujur, dan Desa Belangian, Kecamatan
                                      Agreement                ditandatanganinya          Aranio, Kabupaten Banjar, Kalimantan Selatan/
                                                              Berita Acara Serah          BORNEO signed Agreement of Rehabilitation and
                                                              Terima (BAST) oleh          Revegetation River Flow Area, with HRB, where BORNEO
                                                                    para pihak/           conducts the rehabilitation and revegetation of watershed,
                                                              June 22, 2020 up to         covering an area of 1,248 Hectares and other activities that
                                                               42 months or until         support rehabilitation projects in the river flow area in
                                                                the completion of         accordance with the work plan in Kalaan Village, Rantau
                                                                    work as an            Bujur Village and Belangian Village, Aranio District, Banjar,
                                                                   evidenced by           South Kalimantan.
                                                                 signing of Berita
                                                              Acara Serah Terima
                                                                  (BAST) by the
                                                                      parties

         *) Sampai dengan tanggal penyelesaian laporan keuangan, perjanjian ini masih dalam proses perpanjangan/
            As at the date of authorization of these consolidated financial statements, these agreements are still in the process of extension.



36. Tujuan dan         Kebijakan        Manajemen           Risiko           36. Financial Risk Management Objectives and
    Keuangan                                                                     Policies

   Risiko-risiko utama yang timbul dari instrumen                                    The main risks arising from the Group’s financial
   keuangan yang dimiliki Grup adalah risiko suku                                    instruments are interest rate risk, foreign exchange
   bunga, risiko nilai tukar, risiko likuiditas, dan risiko                          risk, liquidity risk and credit risk. The operational
   kredit. Kegiatan operasional Grup dijalankan secara                               activities of the Group are managed in a prudential
   berhati-hati dengan mengelola risiko-risiko tersebut                              manner by managing those risks to minimize
   agar tidak menimbulkan potensi kerugian bagi Grup.                                potential losses.

   Manajemen risiko merupakan tanggung jawab                                         Risk management is the responsibility of the Board
   Direksi. Direksi bertugas menentukan prinsip dasar                                of Directors (BOD). The BOD has the responsibility
   kebijakan manajemen risiko Grup secara                                            to determine the basic principles of the Group’s risk
   keseluruhan serta kebijakan pada area tertentu,                                   management as well as principles covering specific
   seperti risiko nilai tukar, risiko suku bunga, risiko                             areas, such as foreign exchange risk, interest rate
   kredit, dan risiko likuiditas.                                                    risk, credit risk, and liquidity risk.




                                                                     - 101 -
Page 259
PT GOLDEN ENERGY MINES Tbk                                                        PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                           As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                  (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


   Risiko Suku Bunga                                               Interest Rate Risk

   Risiko suku bunga adalah risiko dimana nilai wajar              Interest rate risk is the risk that the fair value or
   atau arus kas kontraktual masa datang dari suatu                contractual future cash flows of a financial
   instrumen keuangan akan terpengaruh akibat                      instrument will be affected due to changes in market
   perubahan suku bunga pasar. Eksposur Grup yang                  interest rates. The Group’s exposure to interest rate
   terpengaruh risiko suku bunga terutama terkait                  risk relates primarily to bank loans.
   dengan pinjaman bank.

   Manajemen Grup melakukan penelaahan atas suku                   Management of the Group conducts assessments
   bunga yang telah ditetapkan, apabila suku bunga                 on such rates and if market interest rate decreases
   pasar turun secara signifikan, manajemen Grup                   significantly, management of the Group would
   akan melakukan negosiasi untuk menurunkan suku                  negotiate with creditors for reduction in interest
   bunga tersebut. Manajemen Grup juga secara terus-               rates. Management also continuously assesses
   menerus melakukan penelaahan pasar keuangan                     conditions in the financial markets for opportunities
   untuk mendapatkan sumber pendanaan yang                         to obtain optimal funding sources in terms of the
   optimal dengan suku bunga yang menguntungkan                    interest rate for the Group’s benefit.
   bagi Grup.

   Grup memiliki utang bank dengan suku bunga tetap                The Group has fixed-rate bank loans that are
   yang dicatat pada biaya perolehan diamortisasi.                 carried at amortized cost. They are therefore not
   Untuk itu, pinjaman tersebut tidak termasuk dalam               subject to interest rate risk as defined
   risiko suku bunga sebagaimana didefinisikan dalam               in PSAK No. 107.
   PSAK No. 107.

   Risiko Nilai Tukar                                              Foreign Currency Risk

   Risiko nilai tukar adalah risiko dimana nilai wajar             Foreign exchange rate risk is the risk that the fair
   atau arus kas kontraktual masa datang dari suatu                value or future contractual cash flows of a financial
   instrumen keuangan akan terpengaruh akibat                      instrument will fluctuate because of changes in
   perubahan nilai tukar.                                          foreign exchange rates.

   Grup memiliki eksposur dalam mata uang asing                    The Group has transactional currency exposures.
   yang timbul dari transaksi operasionalnya. Eksposur             Such exposure arises when the transaction is
   tersebut timbul karena transaksi yang bersangkutan              denominated in currencies other than the functional
   dilakukan dalam mata uang selain mata uang                      currency of the operating unit or the counterparty.
   fungsional unit operasional atau pihak lawan.                   These exposures are managed partly by using
   Sebagian dari risiko ini dikelola menggunakan                   natural hedges that arise from monetary assets and
   lindung nilai alamiah yang berasal dari aset dan                liabilities in the same foreign currency.
   liabilitas moneter dalam mata uang asing yang
   sama.




                                                         - 102 -
Page 260
PT GOLDEN ENERGY MINES Tbk                                                                                       PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                          AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                            Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                          As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                 (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                 unless Otherwise Stated)


   Pada tanggal 31 Desember 2024 dan 2023, Grup                                                   As of December 31, 2024 and 2023, the Group has
   mempunyai aset dan liabilitas moneter dalam mata                                               monetary assets and liabilities denominated in
   uang asing sebagai berikut:                                                                    foreign currencies as follows:

                                                                        2024                                            2023
                                        Mata uang     Saldo dalam                                     Saldo dalam
                                          asal/     mata uang asal/                                 mata uang asal/
                                         Original      Balance in          Ekuivalen dalam US$/        Balance in          Ekuivalen dalam US$/
                                        currency    original currency       Equivalent in US$       original currency       Equivalent in US$

    Aset                                                                                                                                          Assets
    Kas dan setara kas                    IDR         394.298.334.060               24.396.630        363.721.958.751               23.593.797    Cash and cash equivalents
                                          SGD                  24.239                   17.876                 29.650                   22.525
    Piutang usaha                         IDR       1.946.890.148.654              120.460.966      1.802.724.116.408              116.938.513    Trade receivables
    Piutang lain-lain                     IDR          10.852.120.358                  671.459         13.527.355.008                  877.488    Other receivables
    Dana yang dibatasi pencairannya       IDR         238.807.320.411               14.775.852        317.925.779.432               20.623.105    Restricted funds
    Aset tidak lancar lainnya             IDR         157.115.779.896                9.721.308        165.882.218.488               10.760.393    Other non-current assets

    Jumlah Aset                                                                    170.044.091                                     172.815.821    Total Assets

    Liabilitas                                                                                                                                    Liabilities
    Utang bank                            IDR       2.215.166.443.860              137.060.169      2.185.781.709.878              141.786.567    Short-term bank loans
    Utang usaha                           IDR       3.035.970.365.210              187.846.205      3.885.026.517.312              252.012.618    Trade payables
    Utang lain-lain                       IDR           6.295.034.352                  389.496          3.400.029.075                  220.552    Other payables
    Utang pajak                           IDR          64.650.797.568                4.000.173        128.097.615.470                8.309.394    Taxes payable
    Beban akrual                          IDR         240.286.283.780               14.867.361        214.351.644.374               13.904.492    Accrued expenses
    Liabilitas imbalan kerja karyawan     IDR          67.187.186.000                4.157.108         59.184.754.000                3.839.177    Employee benefits liability

    Jumlah Liabilitas                                                              348.320.512                                     420.072.800    Total Liabilities

    Liabilitas - bersih                                                           (178.276.421)                                   (247.256.979)   Net Liabilities


   Pada tanggal 31 Desember 2024 dan 2023, kurs                                                   As of December 31, 2024 and 2023, the conversion
   konversi yang digunakan Grup diungkapkan pada                                                  rates used by the Group were disclosed in Note 2c
   Catatan 2c atas laporan keuangan konsolidasian.                                                to the consolidated financial statements.

   Pada tanggal 31 Desember 2024, jika mata uang                                                  As of December 31, 2024, if the Rupiah currency
   Rupiah melemah/menguat sebesar 1% terhadap                                                     had weakened/strengthened by 1% against the
   Dolar Amerika Serikat (US$) dengan variabel lain                                               U.S. Dollar (US$) with all other variables held
   konstan, laba sebelum pajak untuk periode berjalan                                             constant, profit before tax for the period would
   akan lebih tinggi/rendah sebesar US$ 1.805.228                                                 have    been      US$     1,805,228     higher/lower.
   sedangkan pada tanggal 31 Desember 2023, jika                                                  As of December 31, 2023, if the Rupiah currency
   mata uang Rupiah melemah/menguat sebesar 1%                                                    had weakened/ strengthened by 1% against the
   terhadap Dolar Amerika Serikat (US$) dengan                                                    U.S. Dollar (US$) with all other variables held
   variabel lain konstan, laba sebelum pajak untuk                                                constant, profit before tax for the year would have
   tahun berjalan akan lebih tinggi/rendah sebesar                                                been US$ 2,495,154, higher/lower.
   US$ 2.495.154.

   Risiko Kredit                                                                                  Credit Risk

   Risiko kredit adalah risiko bahwa Grup akan                                                    Credit risk is the risk that the Group will incur a loss
   mengalami kerugian yang timbul dari pelanggan                                                  arising from the customers or counterparties which
   atau pihak lawan akibat gagal memenuhi liabilitas                                              fail to fulfill their contractual obligations.
   kontraktualnya. Manajemen berpendapat bahwa                                                    Management believes that there are no significant
   tidak terdapat risiko kredit yang terkonsentrasi                                               concentrations of credit risk. The Group manages
   secara signifikan. Grup mengendalikan risiko kredit                                            and controls the credit risk by dealing only with
   dengan cara melakukan hubungan usaha dengan                                                    recognized and credit worthy parties, setting
   pihak lain yang memiliki kredibilitas, menetapkan                                              internal policies on verifications and authorizations
   kebijakan verifikasi dan otorisasi kredit, serta                                               of credit, and regularly monitoring the collectibility of
   memantau kolektibilitas piutang secara berkala                                                 receivables to reduce the exposure to bad debts.
   untuk mengurangi jumlah piutang tak tertagih.




                                                                                 - 103 -
Page 261
PT GOLDEN ENERGY MINES Tbk                                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                      unless Otherwise Stated)


   Berikut adalah eksposur laporan posisi keuangan                                    The table below shows the consolidated
   konsolidasian yang terkait risiko kredit pada tanggal                              statements of financial position exposures
   31 Desember 2024 dan 2023:                                                         related to credit risk as of December 31, 2024 and
                                                                                      2023:
                                                          2024                                          2023
                                          Jumlah Bruto/          Jumlah Neto/           Jumlah Bruto/           Jumlah Neto/
                                         Gross Amounts           Net Amounts           Gross Amounts            Net Amounts

    Aset keuangan pada biaya perolehan
      diamortisasi                                                                                                                  Financial assets at amortized cost
      Kas dan setara kas                      326.836.004            326.836.004            318.388.111             318.388.111        Cash and cash equivalents
      Piutang usaha                           202.692.042            202.692.042            291.907.188             291.907.188        Trade receivables
      Piutang lain-lain                           671.459                671.459                877.488                 877.488        Other receivables
      Dana yang dibatasi pencairannya          24.659.548             24.659.548             20.623.105              20.623.105        Restricted funds
      Aset tidak lancar lainnya                 9.721.308              9.721.308             10.760.393              10.760.393        Other non-current assets

    Jumlah                                    564.580.361            564.580.361            642.556.285             642.556.285     Total




   Risiko Likuiditas                                                                  Liquidity Risk

   Risiko likuiditas adalah risiko kerugian yang timbul                               Liquidity risk is a risk arising when the cash flow
   apabila Grup tidak memiliki arus kas yang cukup                                    position of the Group is not enough to cover the
   untuk memenuhi liabilitas.                                                         liabilities which become due.

   Dalam pengelolaan risiko likuiditas, manajemen                                     In the management of liquidity risk, management
   memantau dan menjaga jumlah kas dan setara kas                                     monitors and maintains a level of cash and cash
   yang dianggap memadai untuk membiayai                                              equivalents deemed adequate to finance the
   operasional Grup dan untuk mengatasi dampak                                        Group’s operations and to mitigate the effects of
   fluktuasi arus kas. Manajemen juga melakukan                                       fluctuation in cash flows. Management also
   evaluasi berkala atas proyeksi arus kas dan arus                                   regularly evaluates the projected and actual cash
   kas aktual, termasuk jadwal jatuh tempo utang.                                     flows, including loan maturity profiles. It is not
   Manajemen tidak mengharapkan bahwa arus kas                                        expected that the cash flows included in the maturity
   dalam analisa jatuh tempo tersebut terjadi jauh lebih                              analysis could occur significantly earlier, or at
   awal, atau dalam jumlah yang berbeda secara                                        significantly different amounts.
   signifikan.

   Berikut adalah jadwal jatuh tempo liabilitas                                       The table below summarizes the maturity profile
   keuangan konsolidasian berdasarkan pembayaran                                      of    consolidated  financial liabilities based
   kontraktual yang tidak didiskontokan (tidak termasuk                               on contractual undiscounted payments (excluding
   pembayaran bunga) pada tanggal 31 Desember                                         interest payments) as of December 31, 2024
   2024 dan 2023:                                                                     and 2023:

                                           Sewaktu-waktu dan
                                          Dalam Waktu 1 Tahun/ Dalam Waktu 1 sampai
                                             On Demand and        dengan 5 Tahun/
                                              Within 1 Year     Within 1 to 5 Years                       Jumlah/Total

    31 Desember 2024                                                                                                              December 31, 2024
    Utang bank jangka pendek                        242.060.169                             -                  242.060.169        Short-term bank loans
    Utang usaha                                     247.993.628                             -                  247.993.628        Trade payables
    Utang lain-lain                                     389.496                             -                      389.496        Other payables
    Beban akrual                                     16.345.798                             -                   16.345.798        Accrued expenses
    Utang bank                                       10.000.000                    30.000.000                   40.000.000        Bank loan
    Sewa pembiayaan                                     240.256                       326.601                      566.857        Lease liabilities
    Jumlah                                          517.029.347                    30.326.601                  547.355.948        Total

    31 Desember 2023                                                                                                              December 31, 2023
    Utang bank jangka pendek                        251.786.567                            -                   251.786.567        Short-term bank loans
    Utang usaha                                     337.681.820                            -                   337.681.820        Trade payables
    Utang lain-lain                                     220.552                            -                       220.552        Other payables
    Beban akrual                                     16.438.334                            -                    16.438.334        Accrued expenses
    Sewa pembiayaan                                     907.072                      429.181                     1.336.253        Lease liabilities

    Jumlah                                          607.034.345                      429.181                   607.463.526        Total




                                                                       - 104 -
Page 262
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


37. Perjanjian Penting, Komitmen dan Kontinjensi               37. Significant Agreements,              Commitments             and
                                                                   Contingencies

                                                            Jatuh Tempo/
       Pihak/Party                Jenis/Type                  Maturities                       Deskripsi/Description

     Pemerintah                     Royalti/                  Berdasarkan         Pada tanggal 31 Desember 2024 dan 2023, uang
     Republik                       Royalty              ketentuan Perjanjian     muka atas iuran DHPB yang sudah dibayar
     Indonesia/                                                 kerjasama         masing-masing sebesar US$ 4.342.548 dan
     The Government                                            Pengusaha          US$ 5.331.564 disajikan sebagai bagian dari akun
     of the Republic of                                      Pertambangan         “Uang muka dan biaya dibayar dimuka” pada
     Indonesia                                             Batubara (PKP2B),      laporan posisi keuangan konsolidasian (Catatan
                                                         Borneo berkewajiban      8) dan iuran DHPB yang masih harus dibayar
                                                             untuk membagi        masing-masing sebesar US$ 1.243.408 dan
                                                          13,5% dari produksi     US$ 840.870, disajikan sebagai bagian dari akun
                                                            batubara kepada       “Beban akrual” pada laporan posisi keuangan
                                                         Pemerintah Republik      konsolidasian (Catatan 16). Beban iuran DHPB
                                                                Indonesia/        untuk tahun yang berakhir pada tanggal
                                                             Based on Coal        31 Desember 2024 dan 2023 masing-masing
                                                            Contract of Work      sebesar US$ 339.786.891 dan US$ 452.211.304,
                                                           (CCoW), Borneo is      disajikan sebagai bagian dari akun “Beban pokok
                                                          required to share its   penjualan” pada laporan laba rugi dan
                                                              13,5% of coal       penghasilan komprehensif lain konsolidasian
                                                             produced to the      (Catatan 26)/
                                                           Government of the      As of December 31, 2024 and 2023, advance
                                                         Republic of Indonesia    royalty amounted to US$ 4,342,548 and
                                                                                  US$ 5,331,564, respectively, presented as part of
                                                                                  “Advances and prepaid expenses” in the
                                                                                  consolidated statement of financial position
                                                                                  (Note 8) and accrued royalty fee amounted to
                                                                                  US$ 1,243,408 and US$ 840,870, respectively,
                                                                                  presented as part of “Accrued expenses” account
                                                                                  in the consolidated statement of financial position
                                                                                  (Note 16). Royalty fee expenses for the years
                                                                                  ended December 31, 2024 and 2023 amounted to
                                                                                  US$ 339.786.891 and US$ 452,211,304,
                                                                                  respectively, presented as part of “Cost of
                                                                                  revenues“ account in the consolidated statement
                                                                                  of profit or loss and other comprehensive income
                                                                                  (Note 26).

     BORNEO
     Pemerintah                   Iuran Tetap/           BORNEO diwajibkan        Beban deadrent untuk tahun yang berakhir pada
     Republik                       Deadrent                untuk membayar        tanggal 31 Desember 2024 dan 2023 masing-
     Indonesia/                                            iuran tetap kepada     masing sebesar US$ 98.930 dan US$ 141.442,
     The Government                                      Pemerintah Republik      disajikan sebagai bagian dari akun “Beban umum
     of the Republic of                                          Indonesia        dan administrasi - Lain-lain” pada laporan laba rugi
     Indonesia                                            berdasarkan 24.100      dan penghasilan komprehensif lain konsolidasian
                                                           Ha sesuai dengan       (Catatan 28)/
                                                         tarif yang ditetapkan    Deadrent       for       the      years      ended
                                                             dalam PKP2B/         December 31, 2024 and 2023 amounting to
                                                         BORNEO is required       US$ 98,930 and US$ 141,442, respectively,
                                                         to pay fixed payment     presented as part of “General and administrative
                                                            of the Republic of    expenses - Others” account in the consolidated
                                                          Indonesia based on      statement of profit or loss and other
                                                              24,100 Ha, in       comprehensive income (Note 28).
                                                          accordance with the
                                                           rates on CCoW as
                                                            stipulated therein

     PT Kirana            Perjanjian Penggarapan Lahan      6 Maret 2013/         Pada tanggal 31 Desember 2024 dan 2023, saldo
     Chatulistiwa         Pertambangan Batubara/Land        March 6, 2013         uang        jaminan       reklamasi     sebesar
     (KC)                     Exploitation Agreement                              Rp 11.000.000.000 (masing-masing setara
                                                                                  dengan US$ 680.609 dan US$ 713.544), disajikan
                                                                                  sebagai bagian dalam akun “Aset tidak lancar
                                                                                  lainnya - Uang jaminan - Reklamasi” pada laporan
                                                                                  posisi keuangan konsolidasian (Catatan 13)/
                                                                                  As of December 31, 2024 and 2023, guarantee
                                                                                  deposits     for  reclamation    amounted      to
                                                                                  Rp 11,000,000,000 (equivalent to US$ 680,609
                                                                                  and US$ 713,544), respectively, which is
                                                                                  presented as part of “Other non-current assets -
                                                                                  Guarantee deposits - Reclamation” account in the
                                                                                  consolidated statement of financial position
                                                                                  (Note 13).




                                                         - 105 -
Page 263
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)

                                                          Jatuh Tempo/
       Pihak/Party              Jenis/Type                  Maturities                        Deskripsi/Description

     PT Gerak Bangun   Perjanjian Penggarapan Lahan     19 Juli 2011 sampai      Perjanjian ini dibuat sehubungan dengan kegiatan
     Utama             Pertambangan Batubara/Land        dengan BORNEO           penambangan BORNEO di area yang terdapat
     (GBU)                 Exploitation Agreement        selesai melakukan       Hak Pengusahaan Hutan Tanaman Industri
                                                               kegiatan          (HPHTI) milik pihak ketiga lainnya. BORNEO
                                                       penambangan di area       diharuskan membayar fee sebesar US$ 0,25 per
                                                               tersebut/         mt batubara yang diproduksi pada areal tumpang
                                                         July 19, 2011 until     tindih dan menyetorkan uang jaminan sebesar
                                                         BORNEO's mining         Rp 23.800.000.000 (masing-masing setara
                                                        activities in the area   dengan US$ 1.472.590 dan US$ 1.543.851 pada
                                                           are completed         tanggal 31 Desember 2024 dan 2023), disajikan
                                                                                 sebagai bagian dari akun “Aset tidak lancar
                                                                                 lainnya - Uang jaminan - Kerusakan lahan” pada
                                                                                 laporan      posisi    keuangan       konsolidasian
                                                                                 (Catatan 13)/
                                                                                 This agreement has been made in relation with
                                                                                 BORNEO’s mining activities in the area in which
                                                                                 Industrial Forest Concession Rights (HPHTI) are
                                                                                 owned by other third party. BORNEO is obliged to
                                                                                 pay US$ 0.25 per mt of coal produced from the
                                                                                 overlap area and transfer a guarantee deposit of
                                                                                 Rp 23,800,000,000 (equivalent to US$ 1,472,590
                                                                                 and US$ 1,543,851 as of December 31, 2024 and
                                                                                 2023), respectively, which is presented as part of
                                                                                 “Other non-current assets - Guarantee deposits -
                                                                                 Land damage” account in the consolidated
                                                                                 statement of financial position (Note 13).

     PT Alam Unda         Perjanjian Kerjasama         8 Juni 2007 s.d 8 Juni    BORNEO mengadakan Perjanjian Kerjasama
                         Pengelolaan Jalan/Road        2032/June 8, 2007 up      Operasional Pengelolaan Jalan PT Alam Unda
                         Maintenance Cooperation          to June 8, 2032        sepanjang 21 km di Kecamatan Satui, Kabupaten
                               Agreement                                         Kotabaru, Kalimantan Selatan. Pada tanggal
                                                                                 31 Desember 2024 dan 2023, saldo uang jaminan
                                                                                 sebesar Rp 2.300.000.000 (masing-masing setara
                                                                                 dengan US$ 142.309 dan US$ 149.196), disajikan
                                                                                 sebagai bagian dalam akun “Aset tidak lancar
                                                                                 lainnya - Uang jaminan - Pengelolaan jalan” pada
                                                                                 laporan     posisi    keuangan       konsolidasian
                                                                                 (Catatan 13)/
                                                                                 BORNEO entered into a Road Maintenance
                                                                                 Cooperation Agreement with PT Alam Unda
                                                                                 covering a land road for 21 km at Satui Subdistrict,
                                                                                 Kotabaru District, South Kalimantan. As of
                                                                                 December 31, 2024 and 2023, the balance of
                                                                                 guarantee deposit amounting to Rp 2,300,000,000
                                                                                 (equivalent to US$ 142,309 and US$ 149,196),
                                                                                 respectively, presented as part of “Other non-
                                                                                 current assets - Guarantee deposits - Road
                                                                                 maintenance” account in the consolidated
                                                                                 statements of financial position (Note 13).

     PT Kalimantan      Perjanjian Penambangan dan        27 Mei 2019 s.d        BORNEO mengadakan Perjanjian Pekerjaan Jasa
     Mitra Maju         Pengangkutan Batubara/Coal      31 Desember 2025/        Pertambangan Pengupasan Tanah Penutup
     Bersama           Mining and Hauling Agreements    May 27, 2019 up to       dengan KMMB           sebagai kontraktor jasa
     (KMMB)                                             December 31, 2025        pertambangan di Batulaki KM 21/
                                                                                 BORNEO entered into an Overburden Removal
                                                                                 Contract with KMMB as a mining service
                                                                                 contractor at Batulaki KM 21.

     PT Energi Sinar    Perjanjian Penambangan dan        7 April 2021 s.d       BORNEO mengadakan Kontrak Pekerjaan Jasa
     Tambang            Pengangkutan Batubara/Coal      31 Desember 2025/        Pertambangan Pengupasan Lapisan Tanah
     (EST)             Mining and Hauling Agreements     April 7, 2021 up to     Penutup dengan EST sebagai kontraktor jasa
                                                        December 31, 2025        pertambangan di proyek Mangkalapi/
                                                                                 BORNEO entered into an Overburden Mining
                                                                                 Services Contract with EST as a mining service
                                                                                 contractor at Mangkalapi Project.

     KMMB               Perjanjian Penambangan dan        7 April 2022 s.d       BORNEO mengadakan Kontrak Jasa Penggalian
                        Pengangkutan Batubara/Coal      31 Desember 2025/        Batubara dengan KMMB sebagai kontraktor jasa
                       Mining and Hauling Agreements     April 7, 2022 up to     penggalian batubara/
                                                        December 31, 2025        BORNEO entered into a Coal Getting Contract
                                                                                 with KMMB as a coal getting contractor.




                                                       - 106 -
Page 264
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)

                                                           Jatuh Tempo/
       Pihak/Party               Jenis/Type                  Maturities                       Deskripsi/Description

     EST                 Perjanjian Penambangan dan        7 April 2021 s.d      BORNEO mengadakan Kontrak Jasa Penggalian
                         Pengangkutan Batubara/Coal      31 Desember 2025/       Batubara dengan EST sebagai kontraktor jasa
                        Mining and Hauling Agreements     April 7, 2021 up to    penggalian batubara/
                                                         December 31, 2025       BORNEO entered into a Coal Getting Contract
                                                                                 with EST as a coal getting contractor.

     PT Putra Perkasa    Perjanjian Penambangan dan        1 Juli 2022 s.d       BORNEO mengadakan Kontrak Jasa Penggalian
     Abadi               Pengangkutan Batubara/Coal     31 Desember 2024 *)/     Batubara dengan PPA sebagai kontraktor jasa
     (PPA)              Mining and Hauling Agreements     July 1, 2022 up to     pertambangan di Proyek Girimulya untuk jangka
                                                        December 31, 2024 *)     waktu sampai dengan 31 Desember 2024/
                                                                                 BORNEO entered into a Coal Getting Contract
                                                                                 with PPA as a mining service contractor in
                                                                                 Girimulya  Project   for   a    period    until
                                                                                 December 31, 2024.

     PPA                Perjanjian Sewa Menyewa Alat     26 Januari 2015 s.d     BORNEO menyewa peralatan untuk melakukan
                        Berat/Rental Heavy Equipment    31 Desember 2024 *)/     kegiatan pertambangan yang secara khusus tidak
                                  Agreement               January 26, 2015       dilakukan oleh perusahaan jasa pertambangan di
                                                         up to December 31,      Proyek Girimulya/
                                                               2024 *)           BORNEO rents equipment to conduct mining
                                                                                 activities that are not specifically carried out by
                                                                                 mining service company in Girimulya Project.

     BSL
     PT Kalidareh         Perjanjian Pengangkutan        7 Februari 2018 s.d     KPM akan menyediakan jasa pengangkutan
     Prima Mandiri                Batubara/                6 Februari 2026/      batubara kepada BSL dengan beban untuk jarak
     (KPM)                Coal Hauling Agreements        February 7, 2018 up     dari tambang batubara dan/atau stockpile kepada
                                                         to February 6, 2026     Pelabuhan SBL/
                                                                                 KPM will provide coal hauling services to BSL with
                                                                                 charge for distance from mine site and/or stockpile
                                                                                 to SBL Port.

     PT Waletindo         Perjanjian Pengangkutan        7 Februari 2018 s.d     WSP akan menyediakan jasa pengangkutan
     Setia Persada                Batubara/                6 Februari 2026/      batubara kepada BSL dengan beban untuk jarak
     (WSP)                Coal Hauling Agreements        February 7, 2018 up     dari tambang batubara dan/atau stockpile kepada
                                                         to February 6, 2026     Pelabuhan SBL dan/atau pelabuhan yang ditunjuk
                                                                                 BSL/
                                                                                 WSP will provide coal hauling services to BSL with
                                                                                 charge for distance from mine site and/or stockpile
                                                                                 to SBL Port and/or BSL’s selected port.

     PT Lobunta          Perjanjian Penambangan dan       19 Juni 2017 s.d       LKR akan menyediakan jasa pertambangan yang
     Kencana Raya          Pengangkutan Batubara/           18 Juni 2025/        terdiri dari pembukaan lahan dan pemindahan
     (LKR)                 Coal Mining and Hauling       June 19, 2017 up to     overburden pada lapisan batubara dengan
                                  Agreements               June 18, 2025         berbagai ketebalan dan batubara akan dimuat dan
                                                                                 diangkut dari lokasi tambang ke stockpile BSL/
                                                                                 LKR will provide mining services consisting of land
                                                                                 clearing and overburden removal in coal seams of
                                                                                 various thicknesses and coal will be loaded and
                                                                                 transported from the mine site to the BSL’s
                                                                                 stockpile.

     PT Bintang          Perjanjian Penambangan dan       11 April 2017 s.d      BSE akan menyediakan jasa pertambangan yang
     Sukses Energy         Pengangkutan Batubara/          10 April 2027/        terdiri dari pembukaan lahan dan pemindahan
     (BSE)                 Coal Mining and Hauling       April 11, 2017 up to    overburden pada lapisan batubara dengan
                                  Agreements               April 10, 2027        berbagai ketebalan dan batubara akan dimuat dan
                                                                                 diangkut dari lokasi tambang ke stockpile BSL.
                                                                                 Berdasarkan Surat Pemberitahuan Pengakhiran
                                                                                 No.          226/BSL-BSE/XII/2024          tanggal
                                                                                 20 Desember 2024, BSL mengakhiri kontrak
                                                                                 kerjasama secara sepihak yang berlaku efektif
                                                                                 sejak tanggal 20 Desember 2024/
                                                                                 BSE will provide mining services consisting of land
                                                                                 clearing and overburden removal in coal seams of
                                                                                 various thicknesses and coal will be loaded and
                                                                                 transported from the mine site to BSL’s stockpile.
                                                                                 Based on the Termination Notification Letter
                                                                                 No.           226/BSL-BSE/XII/2024           dated
                                                                                 December 20, 2024, BSL unilaterally terminated
                                                                                 the cooperation contract which was effective from
                                                                                 December 20, 2024.




                                                        - 107 -
Page 265
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)

                                                           Jatuh Tempo/
       Pihak/Party               Jenis/Type                  Maturities                        Deskripsi/Description

     PT Trasindo          Perjanjian Pengangkutan          27 Juli 2020 s.d      TMS akan menyediakan jasa pengangkutan
     Makmur                       Batubara/              30 September 2025/      batubara kepada BSL dari tambang batubara BSL
     Sejahtera            Coal Hauling Agreements         July 27, 2020 up to    dan/atau stockpile menuju pelabuhan PT Sriwijaya
     (TMS)                                               September 30, 2025      Bara Logistic/
                                                                                 TMS will provide coal hauling services to BSL from
                                                                                 mine site and/or stockpile to PT Sriwijaya Bara
                                                                                 Logistic’s port.

     PT Sarana            Perjanjian Pengangkutan       7 Desember 2020 s.d      SPE akan menyediakan jasa pengangkutan
     Perkasa Erasindo             Batubara/              4 November 2025/        batubara kepada BSL dari tambang batubara BSL
     (SPE)                Coal Hauling Agreements       December 7, 2020 up      dan/atau stockpile menuju pelabuhan PT Sriwijaya
                                                        to November 4, 2025      Bara Logistic/
                                                                                 SPE will provide coal hauling services to BSL from
                                                                                 mine site and/or stockpile to PT Sriwijaya Bara
                                                                                 Logistic’s port.

     PT Tri Putra         Perjanjian Pengangkutan        31 Desember 2020        TPE akan menyediakan jasa pengangkutan
     Erguna                       Batubara/               s.d 30 November        batubara kepada BSL dari tambang batubara
     (TPE)                Coal Hauling Agreements               2026/            menuju ROM stockpile Mekarsari/
                                                         December 31, 2020       TPE will provide coal hauling services to BSL from
                                                         up to November 30,      mine site to ROM stockpile Mekarsari.
                                                                2026

     TPE                Perjanjian Sewa Menyewa Alat        1 Juli 2021 s.d      BSL menyewa alat berat dari TPE untuk
                        Berat/Rental Heavy Equipment     30 September 2024/      melakukan kegiatan usaha pertambangan di area
                                  Agreement               July 1, 2021 up to     pertambangan batubara BSL/
                                                            September 30,        BSL rents heavy equipment from TPE to conduct
                                                                2024 *)          mining activities in BSL’s mine site.

     PT Meganusa          Perjanjian Perawatan Coal      16 Oktober 2021 s.d     BSL sepakat untuk membeli dan MT sepakat untuk
     Transmission       Crushing Plant/Maintenance of      15 Oktober 2024/      menjual dan melakukan fabrikasi, pembangunan,
     (MT)               Coal Crushing Plant Agreement    October 16, 2021 up     dan pemasangan crusher serta fasilitas
                                                        to October 15, 2024 *)   pendukungnya di Kabupaten Musi Rawas Utara,
                                                                                 Musi Rawas dan Musi Banyuasin, Provinsi
                                                                                 Sumatera Selatan/
                                                                                 BSL agreed to purchase and MT agreed to sell and
                                                                                 perform fabrication, construction, and installation
                                                                                 of crusher as well as its supporting facilities in Musi
                                                                                 Rawas Utara, Musi Rawas and Musi Banyuasin
                                                                                 Regency, South Sumatera Province.

     KIM
     TMS                  Perjanjian Pengangkutan        21 Januari 2014 s.d     TMS akan menyediakan jasa pengangkutan
                           Batubara/Coal Hauling         31 Desember 2025/       batubara kepada KIM setiap hari dari tambang
                                Agreements               January 21, 2014 up     dan/atau stockpile Bungo menuju ke beberapa
                                                        to December 31, 2025     stockpile, yaitu stockpile Perawang, stockpile
                                                                                 Tebing Tinggi dan stockpile Padang/
                                                                                 TMS will provide coal hauling services to KIM
                                                                                 every day from the Bungo’s mine site and/or
                                                                                 stockpile to several stockpiles such as Perawang’s
                                                                                 stockpile, Tebing Tinggi’s stockpile and Padang‘s
                                                                                 stockpile.

     PT Mayor Prima       Perjanjian Pengangkutan        5 Januari 2016 s.d      MPA akan menyediakan jasa pengangkutan
     Abadi                 Batubara/Coal Hauling        31 Desember 2024 *)/     batubara kepada KIM setiap hari dari tambang
     (MPA)                      Agreements              January 5, 2016 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                        December 31, 2024 *)     stockpile, yaitu stockpile Perawang, stockpile
                                                                                 Tebing Tinggi dan stockpile Integra/
                                                                                 MPA will provide coal hauling services to KIM
                                                                                 every day from the Bungo’s mine site and/or
                                                                                 stockpile to several stockpiles such as Perawang’s
                                                                                 stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                                 stockpile.

     SPE                  Perjanjian Pengangkutan         5 Januari 2016 s.d     SPE akan menyediakan jasa pengangkutan
                           Batubara/Coal Hauling         31 Desember 2025/       batubara kepada KIM setiap hari dari tambang
                                Agreements              January 5, 2016 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                         December 31, 2025       stockpile, yaitu stockpile Perawang, stockpile
                                                                                 Tebing Tinggi dan stockpile Integra/
                                                                                 SPE will provide coal hauling services to KIM
                                                                                 every day from the Bungo’s mine site and/or
                                                                                 stockpile to several stockpiles such as Perawang’s
                                                                                 stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                                 stockpile.




                                                        - 108 -
Page 266
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)

                                                        Jatuh Tempo/
       Pihak/Party             Jenis/Type                 Maturities                      Deskripsi/Description

     WSP                 Perjanjian Pengangkutan     5 Januari 2016 s.d      WSP akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling     31 Desember 2025/        batubara kepada KIM setiap hari dari tambang
                               Agreements          January 5, 2016 up to     dan/atau stockpile Bungo menuju ke beberapa
                                                    December 31, 2025        stockpile, yaitu stockpile Perawang, stockpile
                                                                             Tebing Tinggi dan stockpile Integra/
                                                                             WSP will provide coal hauling services to KIM
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                             stockpile.

     KPM                 Perjanjian Pengangkutan    2 Agustus 2017 s.d       KPM akan menyediakan jasa pengangkutan
                                 Batubara/         31 Desember 2025/         batubara kepada KIM setiap hari dari tambang
                         Coal Hauling Agreements   August 2, 2017 up to      dan/atau stockpile Bungo menuju ke beberapa
                                                   December 31, 2025         stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             KPM will provide coal hauling services to KIM
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     KCP
     TMS                 Perjanjian Pengangkutan      21 Januari 2014 s.d    TMS akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2024/      batubara kepada KCP setiap hari dari tambang
                               Agreements              January 21, 2014      dan/atau stockpile Bungo menuju ke beberapa
                                                      up to December 31,     stockpile, yaitu stockpile Perawang, stockpile
                                                            2024 **)         Tebing Tinggi dan stockpile Padang/
                                                                             TMS will provide coal hauling services to KCP
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile, Tebing Tinggi’s stockpile and Padang’s
                                                                             stockpile

     MPA                 Perjanjian Pengangkutan       5 Januari 2016 s.d    MPA akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2024/      batubara kepada KCP setiap hari dari tambang
                               Agreements               January 5, 2016      dan/atau stockpile Bungo menuju ke beberapa
                                                      up to December 31,     stockpile, yaitu stockpile Perawang, stockpile
                                                            2024 **)         Tebing Tinggi dan stockpile Integra/
                                                                             MPA will provide coal hauling services to KCP
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                             stockpile.

     SPE                 Perjanjian Pengangkutan       5 Januari 2016 s.d    SPE akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2024/      batubara kepada KCP setiap hari dari tambang
                               Agreements               January 5, 2016      dan/atau stockpile Bungo menuju ke beberapa
                                                      up to December 31,     stockpile, yaitu stockpile Perawang, stockpile
                                                            2024 **)         Tebing Tinggi dan stockpile Integra/
                                                                             SPE will provide coal hauling services to KCP
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                             stockpile.

     WSP                 Perjanjian Pengangkutan       5 Januari 2016 s.d    WSP akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2024/      batubara kepada KCP setiap hari dari tambang
                               Agreements               January 5, 2016      dan/atau stockpile Bungo menuju ke beberapa
                                                      up to December 31,     stockpile, yaitu stockpile Perawang, stockpile
                                                            2024 **)         Tebing Tinggi dan stockpile Integra/
                                                                             WSP will provide coal hauling services to KCP
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile, Tebing Tinggi’s stockpile and Integra’s
                                                                             stockpile.

     KPM                 Perjanjian Pengangkutan      2 Agustus 2017 s.d     KPM akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2024/      batubara kepada KCP setiap hari dari tambang
                               Agreements               August 2, 2017       dan/atau stockpile Bungo menuju ke beberapa
                                                      up to December 31,     stockpile, yaitu stockpile Perawang dan stockpile
                                                            2024 **)         Tebing Tinggi/
                                                                             KPM will provide coal hauling services to KCP
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.



                                                   - 109 -
Page 267
PT GOLDEN ENERGY MINES Tbk                                                      PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                         AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                         As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)

                                                        Jatuh Tempo/
       Pihak/Party             Jenis/Type                 Maturities                      Deskripsi/Description

     BBU
     TMS                 Perjanjian Pengangkutan        11 Juli 2017 s.d     TMS akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2025/      batubara kepada BBU setiap hari dari tambang
                               Agreements             July 11, 2017 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                      December 31, 2025      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             TMS will provide coal hauling services to BBU
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     MPA                 Perjanjian Pengangkutan      11 Juli 2017 s.d       MPA akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling    31 Desember 2024 *)/      batubara kepada BBU setiap hari dari tambang
                               Agreements           July 11, 2017 up to      dan/atau stockpile Bungo menuju ke beberapa
                                                   December 31, 2024 *)      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             MPA will provide coal hauling services to BBU
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     SPE                 Perjanjian Pengangkutan        11 Juli 2017 s.d     SPE akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2025/      batubara kepada BBU setiap hari dari tambang
                               Agreements             July 11, 2017 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                      December 31, 2025      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             SPE will provide coal hauling services to BBU
                                                                             every day from the Bungo mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     WSP                 Perjanjian Pengangkutan        11 Juli 2017 s.d     WSP akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2025/      batubara kepada BBU setiap hari dari tambang
                               Agreements             July 11, 2017 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                      December 31, 2025      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             WSP will provide coal hauling services to BBU
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     KPM                 Perjanjian Pengangkutan        11 Juli 2017 s.d     KPM akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling       31 Desember 2025/      batubara kepada BBU setiap hari dari tambang
                               Agreements             July 11, 2017 up to    dan/atau stockpile Bungo menuju ke beberapa
                                                      December 31, 2025      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             KPM will provide coal hauling services to BBU
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     BBM
     TMS                 Perjanjian Pengangkutan    28 Oktober 2019 s.d      TMS akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling     31 Desember 2025/        batubara kepada BBM setiap hari dari tambang
                               Agreements           October 28, 2019 up      dan/atau stockpile Bungo menuju ke beberapa
                                                   to December 31, 2025      stockpile, yaitu stockpile Perawang dan stockpile
                                                                             Tebing Tinggi/
                                                                             TMS will provide coal hauling services to BBM
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.

     MPA                 Perjanjian Pengangkutan    28 Oktober 2019 s.d      MPA akan menyediakan jasa pengangkutan
                          Batubara/Coal Hauling    31 Desember 2024 *)/      batubara kepada BBM setiap hari dari tambang
                               Agreements            October 28, 2019        dan/atau stockpile Bungo menuju ke beberapa
                                                    up to December 31,       stockpile, yaitu stockpile Perawang dan stockpile
                                                          2024 *)            Tebing Tinggi/
                                                                             MPA will provide coal hauling services to BBM
                                                                             every day from the Bungo’s mine site and/or
                                                                             stockpile to several stockpiles such as Perawang’s
                                                                             stockpile and Tebing Tinggi’s stockpile.




                                                   - 110 -
Page 268
PT GOLDEN ENERGY MINES Tbk                                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                    unless Otherwise Stated)

                                                                           Jatuh Tempo/
          Pihak/Party                    Jenis/Type                          Maturities                           Deskripsi/Description

     SPE                          Perjanjian Pengangkutan               28 Oktober 2019 s.d          SPE akan menyediakan jasa pengangkutan
                                   Batubara/Coal Hauling                31 Desember 2025/            batubara kepada BBM setiap hari dari tambang
                                        Agreements                      October 28, 2019 up          dan/atau stockpile Bungo menuju ke beberapa
                                                                       to December 31, 2025          stockpile, yaitu stockpile Perawang dan stockpile
                                                                                                     Tebing Tinggi/
                                                                                                     SPE will provide coal hauling services to BBM
                                                                                                     every day from the Bungo’s mine site and/or
                                                                                                     stockpile to several stockpiles such as Perawang’s
                                                                                                     stockpile and Tebing Tinggi’s stockpile.

     WSP                          Perjanjian Pengangkutan               28 Oktober 2019 s.d          WSP akan menyediakan jasa pengangkutan
                                   Batubara/Coal Hauling                31 Desember 2025/            batubara kepada BBM setiap hari dari tambang
                                        Agreements                      October 28, 2019 up          dan/atau stockpile Bungo menuju ke beberapa
                                                                       to December 31, 2025          stockpile, yaitu stockpile Perawang dan stockpile
                                                                                                     Tebing Tinggi/
                                                                                                     WSP will provide coal hauling services to BBM
                                                                                                     every day from the Bungo’s mine site and/or
                                                                                                     stockpile to several stockpiles such as Perawang’s
                                                                                                     stockpile and Tebing Tinggi’s stockpile.

     KPM                          Perjanjian Pengangkutan               28 Oktober 2019 s.d          KPM akan menyediakan jasa pengangkutan
                                   Batubara/Coal Hauling                31 Desember 2025/            batubara kepada BBM setiap hari dari tambang
                                        Agreements                      October 28, 2019 up          dan/atau stockpile Bungo menuju ke beberapa
                                                                       to December 31, 2025          stockpile, yaitu stockpile Perawang dan stockpile
                                                                                                     Tebing Tinggi/
                                                                                                     KPM will provide coal hauling services to BBM
                                                                                                     every day from the Bungo’s mine site and/or
                                                                                                     stockpile to several stockpiles such as Perawang’s
                                                                                                     stockpile and Tebing Tinggi’s stockpile.

     TKS
     PT Trinity Mine            Perjanjian Penambangan dan             9 Desember 2009 s.d           TKS mengadakan Perjanjian Penambangan
     Resources                  Pengangkutan Batubara/Coal             7 Desember 2024 *)/           Batubara dengan TMR, pihak ketiga. Jangka
     (TMR)                     Mining and Hauling Agreements            December 9, 2009             waktu kontrak adalah 5 tahun sejak dimulainya
                                                                        up to December 7,            pekerjaan sesuai Surat Perintah Kerja atau
                                                                              2024 *)                sampai tercapainya jumlah produksi sebesar
                                                                                                     1.800.000 MT, mana yang lebih dahulu terjadi/
                                                                                                     TKS entered into a Coal Mining Agreement with
                                                                                                     TMR, a third party. The term of the contract is 5
                                                                                                     years starting from the time the work begins based
                                                                                                     on Work Instruction Letter or up to production of
                                                                                                     1,800,000 MT, whichever comes first.

     PT Alam Karunia             Perjanjian Jasa Bantuan                13 April 2012 sampai         TKS setuju untuk memberikan uang muka jasa
     Mineral                     Manajemen/Management                     dengan habisnya            bantuan manajemen sebesar Rp 5.000.000.000
     (AKM)                     Assistance Service Agreement             kandungan batubara           atau setara masing-masing dengan US$ 309.368
                                                                       yang dapat ditambang          dan      US$       324.338        pada    tanggal
                                                                           dan dijual secara         31 Desember 2024 dan 2023, yang disajikan
                                                                           ekonomis di area          sebagai bagian dari akun “Uang muka dan biaya
                                                                       tambang, atau sampai          dibayar di muka - Uang muka - Jasa bantuan
                                                                         dengan berakhirnya          manajemen” pada laporan posisi keuangan
                                                                           IUP Perusahaan/           konsolidasian (Catatan 8)/
                                                                          April 13, 2012 until       TKS agreed to pay a management assistance
                                                                            the economical           service advance amounting to Rp 5,000,000,000
                                                                             mineable and            or equivalent to US$ 309.368 and US$ 324,338 as
                                                                        saleable coal reserve        of December 31, 2024 and 2023, respectively,
                                                                             in the area is          which was recorded as part of “Advances and
                                                                               completely            prepaid expenses - Advances - Management
                                                                       consumed, or until the        assistance services” account in the consolidated
                                                                       end of the Company’s          statement of financial position (Note 8).
                                                                              IUP is over.

     *)  Sampai dengan tanggal penyelesaian laporan keuangan, perjanjian ini masih dalam proses perpanjangan/
         As at the date of authorization of these consolidated financial statements, these agreements are still in the process of extension.
     **) Perpanjian ini telah jatuh tempo dan tidak akan diperpanjang.
         These agreements will expire on their respective maturity dates and will not be extended.




                                                                       - 111 -
Page 269
PT GOLDEN ENERGY MINES Tbk                                                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                          unless Otherwise Stated)


38. Informasi Segmen                                                                         38. Segment Information

   Informasi mengenai segmen usaha Grup adalah                                                         Information concerning the Group’s business
   sebagai berikut:                                                                                    segments are as follows:

                                                                                            2024
                                                Pertambangan       Perdagangan
                                                  batubara/         batubara/             Lain-lain/             Eliminasi/        Jumlah/
                                                 Coal mining       Coal trading            Others               Elimination         Total

    Penjualan neto                                                                                                                                  Revenues
       Ekspor                                     1.762.049.731        12.332.840                       -                     -   1.774.382.571        Export
       Lokal                                        908.484.520        22.653.793                       -                     -     931.138.313        Local

    Jumlah                                        2.670.534.251        34.986.633                       -                     -   2.705.520.884     Total

    Beban pokok penjualan                        (1.567.394.697)      (33.547.819)                      -                     -   (1.600.942.516)   Cost of revenues

    Laba bruto                                    1.103.139.554         1.438.814                       -                     -   1.104.578.368     Gross profit


    Beban penjualan dan Beban                                                                                                                       Selling expenses and General
       umum administrasi                           (451.999.955)         (683.604)         (10.915.000)                     -      (463.598.559)        and administrative expenses
    Beban eksplorasi                                   (489.674)                -                    -                      -          (489.674)    Exploration expense
    Pendapatan bunga                                  6.330.196           511.714            9.791.200             (6.020.430)       10.612.680     Interest income
    Beban keuangan lainnya                          (12.106.166)                -             (847.972)             6.003.658        (6.950.480)    Other financial charges
    Beban bunga                                      (5.621.414)         (152.596)                   -                      -        (5.774.010)    Interest expense
    Kerugian penurunan nilai                         (7.835.487)                -                    -                      -        (7.835.487)    Impairment losses
    Pendapatan (beban) lain-lain - bersih            15.822.243          (147.486)         474.840.737           (485.298.066)        5.217.428     Other income (expense) - net

    Laba sebelum pajak                             647.239.297            966.842          472.868.965           (485.314.838)      635.760.266     Profit before tax

    Beban (penghasilan) pajak                      (152.569.696)         (139.253)                 (6.815)              87.177     (152.628.587)    Tax expense (benefit)

    Laba periode berjalan                          494.669.601            827.589          472.862.150           (485.227.661)      483.131.679     Profit for the period

    Aset segmen                                   1.027.752.505        14.268.098         1.436.846.985         (1.239.295.701)   1.239.571.887     Segment assets

    Liabilitas segmen                              619.279.997          3.357.960           11.986.415            (56.180.374)      578.443.998     Segment liabilities

    Pengungkapan tambahan                                                                                                                           Additional disclosures
       Perolehan barang modal                       18.519.203              3.428                28.139                       -      18.550.770        Capital expenditures

       Depresiasi dan amortisasi                       566.795                    -                     -                     -         566.795        Depreciation and amortization

       Penjualan berdasarkan lokasi geografis                                                                                                          Sales based on geographical location
          Cina                                    1.237.736.713        12.332.840                       -                     -   1.250.069.553           China
          Indonesia                                 908.484.520        22.653.793                       -                     -     931.138.313           Indonesia
          India                                     327.645.848                 -                       -                     -     327.645.848           India
          Korea Selatan                              89.112.982                 -                       -                     -      89.112.982           South Korea
          Filipina                                   66.689.235                 -                       -                     -      66.689.235           Philippines
          Malaysia                                   16.773.690                 -                       -                     -      16.773.690           Malaysia
          Banglades                                   4.711.352                 -                       -                     -       4.711.352           Bangladesh
          Vietnam                                    15.336.873                 -                       -                     -      15.336.873           Vietnam
          Kamboja                                     4.034.293                 -                       -                     -       4.034.293           Cambodia
          Hong Kong                                       8.745                 -                       -                     -           8.745           Hong Kong

       Jumlah                                     2.670.534.251        34.986.633                       -                     -   2.705.520.884        Total




                                                                                      - 112 -
Page 270
PT GOLDEN ENERGY MINES Tbk                                                                                                                PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                                                                                   AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                                     Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                                                                                   As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                                                                          (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                                                                          unless Otherwise Stated)

                                                                                                             2023
                                                     Pertambangan            Perdagangan
                                                       batubara/              batubara/                    Lain-lain/              Eliminasi/                    Jumlah/
                                                      Coal mining            Coal trading                   Others                Elimination                     Total

    Penjualan neto                                                                                                                                                                  Revenues
       Ekspor                                          2.003.910.922             26.545.161                              -                            -         2.030.456.083          Local
       Lokal                                             844.733.216             26.646.997                              -                            -           871.380.213          Export

    Jumlah                                             2.848.644.138             53.192.158                              -                            -         2.901.836.296       Total

    Beban pokok penjualan                             (1.704.957.760)           (50.827.455)                             -                            -        (1.755.785.215)      Cost of revenues

    Laba bruto                                         1.143.686.378              2.364.703                              -                            -         1.146.051.081       Gross profit


    Beban penjualan dan Beban                                                                                                                                                       Selling expenses and General
       umum administrasi                                (440.988.351)                  (953.305)             (9.628.213)                      -                  (451.569.869)          and administrative expenses
    Pendapatan bunga                                       7.000.218                    219.850              12.320.045              (8.425.067)                   11.115.046       Interest income
    Beban eksplorasi                                        (421.234)                         -                       -                       -                      (421.234)      Exploration expense
    Beban keuangan lainnya                                (5.735.618)                         -                 (11.798)                      -                    (5.747.416)      Other financial charges
    Beban bunga                                          (14.640.344)                  (308.448)               (661.872)              8.402.539                    (7.208.125)      Interest expense
    Pendapatan (beban) lain-lain - bersih                (10.089.091)                   262.079             431.086.804            (430.498.300)                   (9.238.508)      Other income (expense) - net

    Laba sebelum pajak                                  678.811.958               1.584.879                 433.104.966            (430.520.828)                  682.980.975       Profit before tax

    Beban (penghasilan) pajak                           (152.721.923)                  (229.519)              (1.367.704)                 86.583                 (154.232.563)      Tax expense (benefit)
    Laba tahun berjalan                                 526.090.035               1.355.360                 431.737.262            (430.434.245)                  528.748.412       Profit for the year

    Aset segmen                                        1.143.263.087             15.581.240            1.376.612.436              (1.223.414.518)               1.312.042.245       Segment assets

    Liabilitas segmen                                   748.165.824               5.662.064                  11.604.158            (116.501.888)                  648.930.158       Segment liabilities

    Pengungkapan tambahan                                                                                                                                                           Additional disclosures
       Perolehan barang modal                             72.571.482                      3.428              17.260.981                               -            89.835.891          Capital expenditures

       Depresiasi dan amortisasi                          59.893.808                       355                   229.126                 411.454                   60.534.743          Depreciation and amortization

       Penjualan berdasarkan lokasi geografis                                                                                                                                          Sales based on geographical location
          Cina                                         1.253.084.609             26.545.161                              -                            -         1.279.629.770             China
          Indonesia                                      844.733.216             26.646.997                              -                            -           871.380.213             Indonesia
          India                                          510.788.186                      -                              -                            -           510.788.186             India
          Filipina                                       113.290.788                      -                              -                            -           113.290.788             Philippines
          Korea Selatan                                   89.039.209                      -                              -                            -            89.039.209             South Korea
          Thailand                                        13.443.002                      -                              -                            -            13.443.002             Thailand
          Kamboja                                         12.678.050                      -                              -                            -            12.678.050             Cambodia
          Vietnam                                          7.085.545                      -                              -                            -             7.085.545             Vietnam
          Malaysia                                         2.266.681                      -                              -                            -             2.266.681             Malaysia
          Hongkong                                         2.234.852                      -                              -                            -             2.234.852             Hongkong

       Jumlah                                          2.848.644.138             53.192.158                              -                            -         2.901.836.296          Total




39. Pengungkapan Tambahan Laporan Arus Kas                                                                    39. Supplemental Disclosure                                               for         Consolidated
    Konsolidasian                                                                                                 Statements of Cash Flows

   Aktivitas pendanaan yang tidak mempengaruhi kas                                                                      The following are the noncash financing activities of
   dan setara kas:                                                                                                      the Group:
                                                      1 Januari/             Arus kas/Cash flows                                                                               31 Desember/
                                                      January 1,        Penerimaan/      Pembayaran/            Reklasifikasi/       Lain-lain/             Selisih kurs/      December 31,
                                                         2024            Proceeds          Payment             Reclassification       Others              Foreign currency         2024

    Liabilitas jangka pendek                                                                                                                                                                       Current liabilities
       Utang bank jangka pendek                       251.786.567       806.084.560         (818.447.048)                     -                   -             2.636.090        242.060.169         Short-term bank loans
       Utang bank jangka panjang yang                                                                                                                                                                Current portion of long-term
            jatuh tempo dalam waktu satu tahun                     -               -         (10.000.000)           20.000.000                    -                        -      10.000.000             bank loans

    Liabilitas jangka panjang                                                                                                                                                                      Non-current liabilities
       Utang bank jangka panjang setelah                                                                                                                                                             Long-term bank loans -
            dikurangi bagian yang akan jatuh tempo                 -     50.000.000                    -          (20.000.000)                    -                        -      30.000.000            net of current portion
                                                      251.786.567       856.084.560         (828.447.048)                     -                   -             2.636.090        282.060.169



                                                      1 Januari/            Arus kas/Cash flows                                                                                31 Desember/
                                                      January 1,        Penerimaan/     Pembayaran/            Reklasifikasi/       Lain-lain/              Selisih kurs/      December 31,
                                                        2023             Proceeds         Payment             Reclassification       Others               Foreign currency         2023

    Liabilitas jangka pendek                                                                                                                                                                       Current liabilities
       Utang bank jangka pendek                        34.326.626       470.022.987         (254.138.590)                     -              -                  1.575.544        251.786.567         Short-term bank loans
       Utang dividen                                      995.359                 -         (424.318.500)                     -    423.323.141                          -                  -         Dividend payables
       Utang bank jangka panjang yang                                                                                                                                                                Current portion of long-term
            jatuh tempo dalam waktu satu tahun         31.343.828                  -         (96.328.832)           64.756.258          228.746                         -                   -            bank loans

    Liabilitas jangka panjang                                                                                                                                                                      Non-current liabilities
       Utang bank jangka panjang setelah                                                                                                                                                             Long-term bank loans -
            dikurangi bagian yang akan jatuh tempo     64.756.258                  -                   -          (64.756.258)                    -                     -                   -           net of current portion

                                                      131.422.071       470.022.987         (774.785.922)                     -    423.551.887                  1.575.544        251.786.567




                                                                                                   - 113 -
Page 271
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


40. Informasi Lainnya                                           40. Other Information

   Undang-Undang Pertambangan Mineral dan                           Mineral and Coal Mining Law and Government
   Batubara dan Peraturan Pemerintah                                Regulations

   Pada tanggal 10 Juni 2020, Pemerintah Republik                   On June 10, 2020, the Government of the Republic
   Indonesia mengeluarkan Undang-Undang No. 3                       of Indonesia issued Law No. 3 Year 2020 regarding
   Tahun 2020 tentang Perubahan atas Undang-                        the Amendment to Law No. 4 Year 2009 regarding
   Undang No. 4 Tahun 2009 tentang Pertambangan                     Mineral and Coal Mining (Law). Law No. 3 Year
   Mineral dan Batubara yang baru (Undang-Undang).                  2020 amends various provisions from the previous
   Undang-Undang No. 3 Tahun 2020 ini mengubah                      law, the Law No. 4 Year 2009 regarding the Mineral
   cukup banyak ketentuan dalam Undang-Undang                       and Coal Mining, and lastly amended by Law No. 11
   sebelumnya, yaitu Undang-Undang No. 4 Tahun                      Year 2020 regarding Job Creation (the Mining Law).
   2009 tentang Pertambangan Mineral dan Batubara,
   dan terakhir diubah berdasarkan Undang-Undang
   No. 11 Tahun 2020 tentang Cipta Kerja
   (UU Pertambangan).

   Sebagai implementasi dari UU Pertambangan,                       As implementation to the Mining Law, the
   Pemerintah Republik Indonesia mengeluarkan                       Government of the Republic of Indonesia issued
   beberapa Peraturan Pemerintah, di antaranya                      several Government Regulation, among others,
   Peraturan Pemerintah (PP) No. 22 Tahun 2010                      Government Regulation (GR) No. 22 Year 2010
   tentang Wilayah Pertambangan pada tanggal                        regarding the Mining Area on February 1, 2010. In
   1 Februari 2010. Kemudian Pemerintah juga                        addition, the Government issued GR No. 55 Year
   mengeluarkan PP No. 55 Tahun 2010 pada tanggal                   2010 on July 5, 2010 regarding the development
   5 Juli 2010 yang mengatur mengenai pembinaan                     and supervision of implementation of mineral and
   dan     pengawasan    penyelenggaraan    usaha                   coal mining activities in Indonesia. On May 5, 2023,
   pertambangan mineral dan batubara di Indonesia.                  the Government issued GR No. 25 Tahun 2023
   Pada tanggal 5 Mei 2023, Pemerintah                              regarding the Mining Area and which replace the
   mengeluarkan PP No. 25 Tahun 2023 tentang                        GR No. 22 Tahun 2010.
   wilayah    petambangan   dan    mencabut    PP
   No. 22 Tahun 2010.

   Pada tanggal 20 Desember 2010, Pemerintah                        On December 20, 2010, the Government of
   Indonesia mengeluarkan peraturan implementasi                    Indonesia released an implementing regulation for
   atas Undang-Undang Pertambangan No. 4 Tahun                      Mining Law No. 4 Year 2009, i.e. GR No. 78 Year
   2009, yaitu PP No. 78 Tahun 2010 yang mengatur                   2010 that deals with reclamation and post-mining
   aktivitas reklamasi dan pasca tambang untuk                      activities for both IUP Exploration and IUP
   pemegang IUP Eksplorasi dan IUP Operasi                          Production Operation holders. This regulation
   Produksi. Peraturan ini memperbarui Peraturan                    updates Regulation of the Minister of Energy and
   Menteri Energi dan Sumber Daya Mineral No. 18                    Mineral Resources No. 18 Year 2008 dated May 29,
   Tahun 2008 tanggal 29 Mei 2008. Ketentuan                        2008. The regulation requires among others:
   peraturan ini antara lain:

   a.   Pemegang IUP Eksplorasi, harus memuat                       a.     An IUP Exploration holder, must include a
        rencana reklamasi di dalam rencana kerja dan                       reclamation plan in its exploration work plan
        anggaran biaya ekplorasinya dan menyediakan                        and budget and provide a reclamation
        jaminan reklamasi berupa deposito berjangka                        guarantee in the form of a time deposit placed
        yang ditempatkan pada bank pemerintah.                             in a state-owned bank.
   b.   Pemegang IUP Operasi Produksi, harus                        b.     An IUP Production Operation holder, must
        menyiapkan (1) rencana reklamasi lima                              prepare (1) a five-year reclamation plan; (2) a
        tahunan; (2) rencana pasca tambang; (3)                            post-mining plan; (3) provide a reclamation
        menyediakan jaminan reklamasi yang dapat                           guarantee which may be in the form of a joint
        berupa rekening bersama atau deposito                              account or time deposit placed in a state-owned
        berjangka yang ditempatkan pada bank                               bank, a bank guarantee, or an accounting
        pemerintah, bank garansi, atau cadangan                            provision (if eligible); and (4) provide a post-
        akuntansi (bila diizinkan); dan (4) menyediakan                    mine guarantee in the form of a time deposit in
        jaminan pasca tambang berupa deposito                              a state-owned bank.
        berjangka yang ditempatkan di bank
        pemerintah.




                                                          - 114 -
Page 272
PT GOLDEN ENERGY MINES Tbk                                                           PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                              AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                              As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                     (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


   Penempatan jaminan reklamasi dan jaminan pasca                  The placement of reclamation and post-mining
   tambang tidak menghilangkan kewajiban pemegang                  guarantee does not eliminate the obligation of IUP
   IUP dari ketentuan untuk melaksanakan aktivitas                 holder from provision to carry out reclamation and
   reklamasi dan pasca tambang.                                    post-mining activities.

   Pada tanggal 6 Januari 2012, Pemerintah Indonesia               On January 6, 2012, the Government of Indonesia
   mengeluarkan PP mengenai penerimaan negara                      released GR for non-tax state revenue applied in
   bukan pajak yang berlaku di Kementerian Energi                  the Ministry of Energy and Mineral Resources No.9
   dan Sumber Daya Mineral No. 9 Tahun 2012 yang                   Year 2012 which replaced previous regulation GR
   menggantikan PP No. 45 Tahun 2003.                              No.45 Year 2003.

   Pada tanggal 15 Agustus 2022, Pemerintah                        On August 15, 2022, the Government of Indonesia
   Indonesia mengeluarkan PP mengenai jenis dan                    released new GR for type and rate for non-tax state
   tarif atas jenis penerimaan negara bukan pajak yang             revenue types applied in Ministry of Energy and
   berlaku di Kementerian Energi Dan Sumber Daya                   Mineral Resources No. 26 Year 2022 which
   Mineral No. 26 Tahun 2022 yang menggantikan                     replaced previous GR No. 81 Year 2019.
   PP No. 81 Tahun 2019.

   Dalam peraturan ini diatur bahwa jenis Penerimaan               In this regulation, the type of Non-tax State
   Negara Bukan Pajak pada Direktorat Jenderal                     Revenue in the Directorate General of Mineral and
   Mineral dan Batubara diantaranya meliputi:                      Coal shall include, among others:

   a.   kompensasi data informasi Wilayah Izin Usaha               a.     compensation for information data on the
        Pertambangan eksplorasi atau Wilayah Izin                         Mining Business License Area of exploration or
        Usaha Pertambangan Khusus eksplorasi untuk                        Special Mining Business License Area of
        mineral logam dan Batubara;                                       exploration for metal minerals and coal;

   b.   jaminan kesungguhan lelang Wilayah Izin                    b.     surety bond of Mining Business License Area or
        Usaha Pertambangan atau Wilayah Izin Usaha                        Special Mining Business License Area for metal
        Pertambangan Khusus mineral logam dan                             minerals and coal in the event that the bidder
        batubara dalam hal peserta lelang yang telah                      that has passed the prequalification does not
        lolos prakualifikasi tidak memasukkan surat                       submit a quotation letter or the bidder
        penawaran harga atau peserta lelang yang                          determined to be the winner does not submit an
        ditetapkan sebagai pemenang lelang tidak                          application for mining business license or
        mengajukan       permohonan    izin   usaha                       special mining business license;
        pertambangan atau izin usaha pertambangan
        khusus;

   c.   jaminan kesungguhan pelaksanaan kegiatan                   c.     performance bond for exploration activities of
        eksplorasi mineral logam, mineral bukan logam,                    metal minerals, nonmetal minerals, rocks and
        batuan dan batubara dalam hal pemegang Izin                       coal in the event that the holder of Mining
        Usaha Pertambangan atau Izin Usaha                                Business License or Special Mining Business
        Pertambangan Khusus tidak melaksanakan                            License does not carry out exploration
        kegiatan eksplorasi; dan                                          activities; and

   d.   bagian Pemerintah Pusat dari keuntungan                    d.     portion of the Central Government from the net
        bersih    dari   pemegang    Izin   Usaha                         profit from the holder of Special Mining
        Pertambangan Khusus operasi produksi untuk                        Business License for production operations for
        mineral logam dan batubara.                                       metal minerals and coal.

   Pada tanggal 13 September 2021, sebagai                         On September 13, 2021, as the implementation of
   implementasi dari Undang-Undang No. 3 Tahun                     Law No. 3 Year 2020, the Government issued GR
   2020, Pemerintah mengeluarkan PP No. 96 Tahun                   No. 96 Year 2021 regarding the Mineral and Coal
   2021 tentang Kegiatan Usaha Pertambangan                        Mining Activities which replace the GR No. 23 Year
   Mineral dan Batubara yang mencabut PP No. 23                    2010 and all of its amendments.
   Tahun    2010    berikut  seluruh  perubahan-
   perubahannya.




                                                         - 115 -
Page 273
PT GOLDEN ENERGY MINES Tbk                                                         PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                            As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                   (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


   Pada tanggal 30 Mei 2024, Pemerintah                             On May 30, 2024, the Government of Indonesia
   mengeluarkan PP No. 25 Tahun 2024 tentang                        released GR No. 25 Year 2024 regarding changes
   perubahan PP No.96 Tahun 2021 tentang Kegiatan                   to PP No. 96 Year 2021 concerning Mineral and
   Usaha Pertambangan Mineral dan Batubara.                         Coal Mining Activity.

   Grup terus memonitor perkembangan dari                           The Group has monitored the development and
   implementasi peraturan pelaksanaan dari Undang-                  implementation of the new Mining Law and
   Undang Pertambangan baru ini dan menganalisis                    Government Regulation in mining and analyzed the
   pengaruhnya     terhadap    operasional   Grup.                  impact on the Group’s operations. The Group’s
   Manajemen berpendapat bahwa ketentuan-                           management believes that the provisions of the new
   ketentuan pada Undang-Undang Pertambangan                        Mining Law will have no significant impact to the
   dan Peraturan Pemerintah terkait pertambangan                    Group in the near term.
   tidak akan menimbulkan dampak signifikan pada
   operasional Grup dalam waktu dekat.

   Analisis Dampak Lingkungan Hidup                                 Environmental Impact Assessment

   Berdasarkan       Surat    Keputusan      Menteri                Based        on       Decision      Letter    from
   Lingkungan Hidup dan Kehutanan Nomor                             Minister     of    Environment      and    Forestry
   SK.400/MENLHK/SETJEN/PLA.4/4/2023 tanggal                        No. SK.400/MENLHK/SETJEN/PLA.4/4/2023 dated
   18 April 2023 tentang Kelayakan Lingkungan Hidup                 April 18, 2023 regarding Feasibility Environment of
   Kegiatan Pengembangan Batubara dan Fasilitas                     Coal Development Activities and Supporting
   Penunjangnya pada Wilayah KW 99 PB0339 di                        Facilities of KW99 PB0339 area in Satui District,
   Kecamatan Satui, Kecamatan Angsana, Kecamatan                    Angsana District, Sungai Loban District, Teluk
   Sungai Loban, Kecamatan Teluk Kepayang dan                       Kepayang District and Kuranji District, Tanah
   Kecamatan Kuranji, Kabupaten Tanah Bumbu,                        Bumbu Regency, South Kalimantan Province by
   Provinsi Kalimantan Selatan oleh BORNEO                          BORNEO regarding environmental feasibility
   mengenai persetujuan kelayakan lingkungan untuk                  approval for increasing maximum production from
   kenaikan produksi maksumum 36 juta ton/tahun                     36 million tons/year to maximum production of 46.8
   menjadi produksi maksimum 46,8 juta ton/tahun.                   million tons/year.


41. Perkara Hukum                                               41. Lawsuit

   Pada tanggal 6 Agustus 2024, BORNEO menerima                     On August 6, 2024, BORNEO received a Release
   Relaas Panggilan Sidang atas perkara Gugatan                     of       Summons           for        Civil        Lawsuit
   Perdata No. 24/Pdt.G/2024/PN.Bln yang terdaftar di               No. 24/Pdt.G/2024/PN.Bln registered at the
   Pengadilan Negeri Batulicin tertanggal 2 Agustus                 Batulicin District Court dated August 2, 2024 filed by
   2024 yang diajukan oleh Arbayah Cs kepada                        Arbayah et al. (Plaintiffs) against PT Putra Perkasa
   PT Putra Perkasa Abadi (Tergugat I), BORNEO                      Abadi (Defendant I), BORNEO (Defendant II), Head
   (Tergugat II), Kepala Desa Mangkalapi (Turut                     of Mangkalapi Village (Co-Defendant) related to the
   Tergugat), berkaitan dengan aktifivitas penggarapan              activities of working on and constructing a mining
   dan pembuatan jalan tambang di atas lahan yang                   road on land allegedly owned by the Plaintiffs.
   diduga milik Para Penggugat. Atas dasar gugatan                  Based on the lawsuit, the Plaintiffs are demanding
   tersebut, Para Penggugat menuntut Para Tergugat                  that the Defendants pay compensation of
   secara tanggung renteng untuk membayar ganti rugi                Rp 10,000,000,000 (equivalent to US$ 618,735). As
   sebesar Rp 10.000.000.000 (setara dengan                         at the date of authorization of the consolidated
   US$      618.735).    Sampai     dengan      tanggal             financial statements, the trial is still in the process of
   penyelesaian laporan keuangan konsolidasian,                     proving and has yet to reach a decision that has
   persidangan masih dalam proses pembuktian dan                    permanent legal force (inkracht van gewijsde).
   belum memiliki putusan yang berkekuatan hukum
   tetap (inkracht van gewijsde).




                                                          - 116 -
Page 274
PT GOLDEN ENERGY MINES Tbk                                                            PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                               AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                               As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                      (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


42. Peristiwa setelah Periode Pelaporan                          42. Events after the Reporting Period

    Pada tanggal 31 Januari 2025, PT Bank Mandiri                    On January 31, 2025, PT Bank Mandiri (Persero)
    (Persero) Tbk, bersama dengan Perusahaan,                        Tbk along with the Company, BORNEO, RCI, KIM
    Borneo, RCI, KIM, BSL, dan KMS telah                             BSL, and KMS entered into Addendum III to the
    menandatangani Addendum III Perjanjian Kredit                    Syndicated             Credit           Agreement
    Sindikasi     No.     WCO.KCP/1119/TLN/2023                      No. WCO.KCP/1119/TLN/2023, providing for the
    sehubungan dengan persetujuan untuk melepas                      release of the vehicle previously used as collateral
    jaminan kendaraan Perusahaan dan Borneo.                         under the agreement by the Company and
                                                                     BORNEO.


43. Perubahan     Pernyataan     Standar    Akuntansi            43. Changes to Statements of Financial Accounting
    Keuangan                                                         Standards

    Sejak 1 Januari 2024, perubahan penomoran                        Beginning January 1, 2024, changes in the
    Pernyataan Standar Akuntansi Keuangan (PSAK)                     numbering of the Statements of Financial
    dan Interpretasi Standar Akuntansi Keuangan telah                Accounting Standards (PSAK) and Interpretation of
    berlaku efektif.                                                 Financial Accounting Standards have become
                                                                     effective.

    Perubahan pada PSAK                                              Changes to the PSAK

    Diterapkan pada tahun 2024                                       Adopted during 2024

   Penerapan standar akuntansi keuangan revisi                       The application of the following revised financial
   berikut, yang berlaku efektif 1 Januari 2024, relevan             accounting standards, which are effective from
   bagi Grup namun tidak menyebabkan perubahan                       January 1, 2024 and relevant for the Group, but did
   signifikan atas kebijakan akuntansi Grup dan tidak                not result in substantial changes to the Group’s
   berdampak material terhadap jumlah-jumlah yang                    accounting policies and had no material effect on the
   dilaporkan dalam laporan keuangan konsolidasian:                  amounts reported in the consolidated financial
                                                                     statements:

    -   Amendemen PSAK No. 201, “Penyajian                           -     Amendment to PSAK No. 201, “Presentation of
        Laporan Keuangan” terkait Klasifikasi Liabilitas                   financial    statements”     about    Liabilities
        sebagai Jangka Pendek atau Jangka Panjang.                         Classification as Current or Non-Current.

    -   Amendemen PSAK No. 201, ”Penyajian                           -     Amendment to PSAK No. 201, “Presentation of
        Laporan Keuangan” terkait Liabilitas Jangka                        Financial Statements” regarding Noncurrent
        Panjang dengan Kovenan                                             Liabilities with Covenants

    -   Amendemen PSAK No. 116, “Sewa” terkait                       -     Amendment to PSAK No. 116, “Leases”
        liabilitas sewa pada transaksi jual dan sewa                       regarding lease liabilities in sale-and-lease back
        balik                                                              transactions

    -   Amendemen PSAK No. 207, “Laporan Arus                        -     Amendment to PSAK No. 207, “Statement of
        Kas” dan amandemen PSAK No. 107                                    Cash Flow” and amendment to PSAK No. 107
        “Instrumen Keuangan” tentang pengaturan                            Financial Instrument” regarding supplier
        pembiayaan pemasok; dan                                            financing arrangements; and




                                                           - 117 -
Page 275
PT GOLDEN ENERGY MINES Tbk                                                          PT GOLDEN ENERGY MINES Tbk
DAN ENTITAS ANAK                                                                             AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Pada Tanggal 31 Desember 2024 dan 2023                                             As of December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat,                    (Figures are Presented in United States Dollar,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


   Telah diterbitkan namun belum efektif                           Issued but not yet effective

   Amendemen atas PSAK yang telah diterbitkan yang                 Amendments to financial accounting standard
   bersifat wajib untuk tahun buku yang dimulai pada               issued that are mandatory for the financial year
   atau setelah:                                                   beginning or after:

   1 Januari 2025                                                  January 1, 2025

   -   Amendemen PSAK No. 221, “Pengaruh                           -    Amendment to PSAK No. 221, “The Effect of
       Perubahan Kurs Valuta Asing” terkait kondisi                     Changes in Foreign Exchange Rates” regarding
       ketika suatu mata uang tidak tertukarkan.                        to conditions when a currency is not
                                                                        exchangeable.

   Sampai dengan tanggal penerbitan laporan                        As at the date of authorization of these consolidated
   keuangan konsolidasian, amendemen tersebut                      financial statements, the amendments are not
   diperkirakan tidak akan berdampak material                      expected to have a material impact on the financial
   terhadap pelaporan keuangan Grup.                               reporting of the Group.


                                                        ********




                                                       - 118 -
Page 276
Lampiran I                                                                                                                                              Attachment I

PT GOLDEN ENERGY MINES Tbk                                                                                                      PT GOLDEN ENERGY MINES Tbk
Laporan Posisi Keuangan Entitas Induk                                                                           Parent Company Statements of Financial Position
31 Desember 2024 dan 2023                                                                                                             December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)              (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                               2024                    2023


ASET                                                                                                      ASSETS

ASET LANCAR                                                                                               CURRENT ASSETS
Kas dan setara kas                                             76.870.249              14.053.693         Cash and cash equivalents
Pajak dibayar dimuka                                            2.098.429               1.263.053         Prepaid taxes
Uang muka dan biaya dibayar di muka                                10.762                 146.465         Advances and prepaid expenses

Jumlah Aset Lancar                                             78.979.440              15.463.211         Total Current Assets

ASET TIDAK LANCAR                                                                                         NON-CURRENT ASSETS
Piutang lain-lain                                                                                         Other receivables
   Pihak berelasi                                              69.116.641             135.439.384            Related parties
   Pihak ketiga                                                         -                 176.688            Third parties
Aset pajak tangguhan                                              115.805                  98.229         Deferred tax assets
Investasi saham                                               204.311.400             201.851.677         Investment in shares
Aset tetap - setelah dikurangi akumulasi                                                                  Property and equipment - net of accumulated
   penyusutan sebesar US$ 1.378.737                                                                          depreciation of US$ 1,378,737 as of
   masing-masing pada tanggal                                                                                December 31, 2024 and
   31 Desember 2024 dan 2023                                            -                      -             2023, respectively
Aset hak guna - bersih                                             54.741                141.905          Right-of-use assets - net
Aset tidak lancar lainnya                                          60.960                146.988          Other non-current assets

Jumlah Aset Tidak Lancar                                      273.659.547             337.854.871         Total Non-current Assets

JUMLAH ASET                                                   352.638.987             353.318.082         TOTAL ASSETS




                                                                            - i.1 -
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Lampiran I                                                                                                                                                   Attachment I

PT GOLDEN ENERGY MINES Tbk                                                                                                        PT GOLDEN ENERGY MINES Tbk
Laporan Posisi Keuangan Entitas Induk                                                                             Parent Company Statements of Financial Position
31 Desember 2024 dan 2023                                                                                                               December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                               2024                      2023


LIABILITAS DAN EKUITAS                                                                                      LIABILITIES AND EQUITY

LIABILITAS                                                                                                  LIABILITIES

LIABILITAS JANGKA PENDEK                                                                                    CURRENT LIABILITIES
Utang usaha - pihak berelasi                                      305.946                   320.752         Trade payables - related parties
Utang pajak                                                       961.997                 1.041.409         Taxes payable
Beban akrual                                                       97.873                   124.709         Accrued expenses
Utang sewa jangka panjang yang akan jatuh tempo
  dalam waktu satu tahun                                           45.814                    61.590         Current portion of long-term lease liabilities

Jumlah Liabilitas Jangka Pendek                                 1.411.630                 1.548.460         Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                                   NON-CURRENT LIABILITIES
Liabilitas imbalan kerja karyawan                                 420.956                  412.570          Employee benefits liability
Utang sewa jangka panjang - setelah dikurangi bagian
   yang akan jatuh tempo dalam waktu satu tahun                       8.569                  55.992         Long-term lease liabilities - net of current portion

Jumlah Liabilitas Jangka Panjang                                  429.525                  468.562          Total Non-current Liabilities

JUMLAH LIABILITAS                                               1.841.155                 2.017.022         TOTAL LIABILITIES

EKUITAS                                                                                                     EQUITY

Modal saham - nilai nominal Rp 100 per saham                                                                Capital stock - Rp 100 par value per share
  Modal dasar - 20.000.000.000 saham                                                                          Authorized - 20,000,000,000 shares
  Modal ditempatkan dan disetor penuh -                                                                       Issued and fully paid -
     5.882.353.000 saham                                       65.065.961                65.065.961               5,882,353,000 shares
Tambahan modal disetor, neto                                  229.347.827               229.347.827         Additional paid-in capital, net
Saldo laba                                                                                                  Retained earnings
  Dicadangkan                                                   7.516.287                 6.516.287           Appropriated
  Belum dicadangkan                                           133.279.028               134.792.625           Unappropriated
Komponen ekuitas lainnya                                      (84.411.271)              (84.421.640)        Other equity component

JUMLAH EKUITAS                                                350.797.832               351.301.060         TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS                                 352.638.987               353.318.082         LIABILITIES AND EQUITY




                                                                              - i.2 -
Page 278
Lampiran II                                                                                                                                                 Attachment II

PT GOLDEN ENERGY MINES Tbk                                                                                                       PT GOLDEN ENERGY MINES Tbk
Laporan Laba Rugi Entitas Induk                                                                                       Parent Company Statements of Profit or Loss
dan Penghasilan Komprehensif Lain Konsolidasian                                                                                  and Other Comprehensive Income
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                        For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)               (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                          2024                  2023


BEBAN USAHA                                                                                          OPERATING EXPENSES
Beban umum dan administrasi                              (10.153.594)           (9.092.006)          General and administrative expenses
Pendapatan dividen                                       477.042.577           430.109.375           Dividend income
Pendapatan bunga                                           9.790.485            12.302.598           Interest income
Keuntungan selisih kurs
   mata uang asing - bersih                               (2.198.086)               1.047.845        Gain on foreign exchange - net
Beban keuangan lainnya                                       (15.850)                 (11.798)       Other financial charges
Beban bunga                                                   (8.415)                (644.923)       Interest expense
Lain-lain - bersih                                             8.785                  (53.868)       Others - net

LABA SEBELUM PAJAK                                       474.465.902           433.657.223           PROFIT BEFORE TAX

BEBAN (PENGHASILAN) PAJAK                                                                            TAX EXPENSE (BENEFIT)
Kini                                                               -                1.371.707        Current
Tangguhan                                                    (20.501)                  (6.702)       Deferred

Beban (Penghasilan) Pajak - Bersih                           (20.501)               1.365.005        Tax Expense (Income) - Net

LABA TAHUN BERJALAN                                      474.486.403           432.292.218           PROFIT FOR THE YEAR

PENGHASILAN (RUGI) KOMPREHENSIF LAIN                                                                 OTHER COMPREHENSIVE INCOME (LOSS)

Pos yang tidak akan direklasifikasi ke laba rugi                                                     Items that will not be reclassified subsequently to profit and loss
  Pengukuran kembali liabilitas imbalan kerja                 13.294                  (15.578)          Remeasurement of defined benefit liability
  Pajak sehubungan dengan pos yang tidak akan
     direklasifikasi                                          (2.925)                   3.427          Tax relating to items that will not be reclassification

Penghasilan (rugi) komprehensif lain - bersih                 10.369                  (12.151)       Other comprehensive income (loss) - net
JUMLAH PENGHASILAN KOMPREHENSIF                                                                      TOTAL COMPREHENSIVE INCOME
  TAHUN BERJALAN                                         474.496.772           432.280.067             FOR THE YEAR




                                                                          - i.3 -
Page 279
Lampiran III                                                                                                                                                                                                                                             Attachment III

PT GOLDEN ENERGY MINES Tbk                                                                                                                                                                                                      PT GOLDEN ENERGY MINES Tbk
Laporan Perubahan Ekuitas Entitas Induk                                                                                                                                                                        Parent Company Statements of Changes in Equity
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                                                                                                                       For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                                                                                                              (Figures are Presented in United States Dollar, unless Otherwise Stated)


                                                                                                                                                                                                          `

                                                                                                                                                           Komponen Ekuitas Lainnya/
                                                                                                                                                             Other Equity Component
                                                                                                                                                      Selisih Kurs
                                                                                                                                                       Penjabaran
                                                                                                                                                        Laporan
                                                                 Modal Saham         Tambahan                                                          Keuangan/
                                                                 Ditempatkan           Modal                                                       Foreign Exchange
                                                                  dan Disetor/     Disetor- Bersih/       Saldo Laba/Retained Earnings                Differences
                                                                  Issued and         Additional       Telah Ditentukan    Belum Ditentukan            Arising from
                                                                    Paid Up           Paid-in         Penggunaannya/       Penggunaannya/         Financial Statements     Keuntungan Aktuarial/      Jumlah/
                                                                 Capital Stock      Capital - Net      Appropriated        Unappropriated             Translation             Actuarial Gain           Total


Saldo pada tanggal 1 Januari 2023                                   65.065.961        229.347.827           5.516.287             118.500.407              (84.679.483)                269.994        334.020.993        Balance as of January 1, 2023
Penghasilan komprehensif:                                                                                                                                                                                                Comprehensive income:

Laba tahun berjalan                                                            -                 -                  -             432.292.218                        -                        -       432.292.218        Profit for the year

Rugi komprehensif lain                                                         -                 -                  -                        -                       -                  (12.151)              (12.151)   Other comprehensive loss

Jumlah penghasilan komprehensif                                                -                 -                  -             432.292.218                        -                  (12.151)      432.280.067        Total comprehensive income

Pencadangan saldo laba                                                         -                 -          1.000.000               (1.000.000)                      -                        -                     -    Appropriation of retained earnings

Dividen Tunai                                                                  -                 -                  -             (415.000.000)                      -                        -       (415.000.000)      Cash dividend

Saldo pada tanggal 31 Desember 2023                                 65.065.961        229.347.827           6.516.287             134.792.625              (84.679.483)                257.843        351.301.060        Balance as of December 31, 2023

Penghasilan komprehensif:                                                                                                                                                                                                Comprehensive income:
Laba tahun berjalan                                                            -                 -                  -             474.486.403                        -                        -       474.486.403        Profit for the year
Rugi komprehensif lain                                                         -                 -                  -                        -                       -                  10.369                10.369     Other comprehensive loss

Jumlah penghasilan komprehensif                                                -                 -                  -             474.486.403                        -                  10.369        474.496.772        Total comprehensive income

Pencadangan saldo laba                                                         -                 -          1.000.000               (1.000.000)                      -                        -                     -    Appropriation of retained earnings

Dividen Tunai                                                                  -                 -                  -             (475.000.000)                      -                        -       (475.000.000)      Cash dividend

Saldo pada tanggal 31 Desember 2024                                 65.065.961        229.347.827           7.516.287             133.279.028              (84.679.483)                268.212        350.797.832        Balance as of December 31, 2024




                                                                                                                        - i.4 -
Page 280
Lampiran IV                                                                                                                                                         Attachment IV

PT GOLDEN ENERGY MINES Tbk                                                                                                                  PT GOLDEN ENERGY MINES Tbk
Laporan Arus Kas Entitas Induk                                                                                                    Parent Company Statements of Cash Flows
Untuk Tahun-tahun yang Berakhir 31 Desember 2024 dan 2023                                                                   For the Years Ended December 31, 2024 and 2023
(Angka-angka Disajikan dalam Dolar Amerika Serikat, kecuali Dinyatakan Lain)                          (Figures are Presented in United States Dollar, unless Otherwise Stated)



                                                                     2024                      2023


ARUS KAS DARI AKTIVITAS OPERASI                                                                                  CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan pendapatan keuangan                                      15.244.521                13.331.275         Receipts of finance income
Pembayaran beban keuangan dan keuangan lainnya                        (949.614)               (1.623.573)        Payments of finance costs and other financial charges
Pembayaran kepada karyawan                                          (9.141.515)               (7.841.820)        Cash paid to employees
Pembayaran kepada kontraktor, pemasok dan lainnya                   (3.026.056)               21.096.657         Cash paid to contractors, suppliers and others

Kas diperoleh dari operasi                                           2.127.336                24.962.539         Net cash generated from operations
Pembayaran pajak penghasilan badan                                           -                (1.371.707)        Payments of corporate income tax

Kas Bersih Diperoleh dari Aktivitas Operasi                          2.127.336                23.590.832         Net Cash Provided by Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI                                                                                CASH FLOWS FROM INVESTING ACTIVITIES
Penerimaan piutang lain-lain - pihak berelasi                      147.765.169                141.933.318        Receipt from other receivables - related parties
Pemberian piutang lain-lain - pihak berelasi                       (86.840.275)              (240.431.349)       Proceeds for other receivables - related parties
Penambahan investasi saham                                          (2.442.144)               (36.457.526)       Addition in Investment in shares
Perubahan dalam aset lain-lain                                          (5.934)                    (4.570)       Changes in other assets

Kas Bersih Diperoleh dari (Digunakan untuk) Aktivitas Investasi     58.476.816               (134.960.127)       Net Cash Provided by (Used in) Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN                                                                                CASH FLOWS FROM FINANCING ACTIVITIES
Pembayaran utang bank jangka panjang                                           -              (14.800.000)       Repayment of long-term bank loans
Dividen                                                                                                          Dividend
   Pendapatan                                                      477.042.577                530.251.776           Income
   Pembayaran                                                     (475.000.000)              (415.000.000)          Payments

Kas Bersih Diperoleh dari Aktivitas Pendanaan                        2.042.577               100.451.776         Net Cash Provided by Financing Activities

                                                                                                                 NET INCREASE (DECREASE) IN CASH AND
KENAIKAN (PENURUNAN) BERSIH KAS DAN SETARA KAS                      62.646.729                (10.917.519)         CASH EQUIVALENTS

                                                                                                                 CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS AWAL TAHUN                                       14.053.693                30.699.655            AT THE BEGINNING OF THE YEAR
Pengaruh perubahan kurs mata uang asing                                169.827                (5.728.443)        Effect of foreign exchange rate changes

                                                                                                                 CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS AKHIR TAHUN                                      76.870.249                14.053.693           AT THE END OF THE YEAR




                                                                                   - i.5 -
Page 281
  Sinar Mas Land Plaza Tower II Lt. 6
       Jl. M.H. Thamrin No. 51
   Jakarta Pusat 10350, Indonesia
        Tel. (021) 5018 6888
        Fax. (021) 3199 0319
E-mail. corsec@goldenenergymines.com
    www.goldenenergymines.com




            2024
           Laporan Tahunan
            Annual Report


     PT Golden Energy Mines Tbk

File

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Names mentioned 240 people and organisations named in the text · linked when the evidence is strong

linked org Golden Energy Mines Tbk p.1 ×167
linked org PT Borneo Indobara · DIREKTUR UTAMA p.7 ×97
linked org PT Golden Energy p.9 ×33
linked org Sinar Mas p.9 ×34
linked person IR. R. Utoro p.11
linked person Lokita Prasetya · Presiden Komisaris p.12 ×17
linked org Dian Swastatika Sentosa Tbk p.21 ×112
linked org Radhika Jananta Raya p.21 ×9
linked org PT Sinar Mas Cakrawala p.21 ×7
linked org ABM Investama Tbk. · Commissioner p.22 ×77
linked org PT Gerbangmas Tunggal Sejahtera. p.23 ×2
linked org PT Dian Swastatika p.23 ×3
linked person Achmad Ananda Djajanegara p.30 ×15
linked person Alex Sutanto · Komisaris p.30 ×11
linked person Feriwan Sinatra · Komisaris p.30 ×25
linked person Haris Mustarto · Komisaris p.30 ×20
linked person Yoghi Nuswantoro · Direktur p.30 ×6
linked person Paulus Yuniardi · Direktur p.30 ×8
linked — Standard Chartered p.31 ×4
linked org PT Tiara Marga Trakindo p.31 ×7
linked org Archi Indonesia Tbk p.33 ×5
linked org Smartfren Telecom Tbk p.33 ×8
linked org Sinar Mas Multiartha Tbk p.33 ×8
linked org PT Cikarang Listrindo p.34 ×3
linked org Garuda Indonesia p.35 ×2
linked org Mitra Pinasthika Mustika Tbk p.35 ×5
linked org Adaro Energy Tbk p.37 ×5
linked org Berau Coal Energy Tbk p.37 ×5
linked org Bukit Asam Tbk p.37 ×5
linked org Baramulti Suksessarana Tbk p.37 ×5
linked org Valle Verde p.42
linked org PT Sinar Mas Tunggal p.42
linked person Franky Oesman Widjaja p.42 ×7
linked person Mivida Hamami p.42 ×3
linked org Bank Danamon Indonesia Tbk p.45 ×2
linked org Bank Mandiri (Persero) Tbk p.45 ×8
linked org Indonesia Eximbank p.46
linked person Audit Committee • | Chairman p.87
possible org Otoritas Jasa Keuangan p.2 ×8
possible person Bonifasius · Presiden Direktur p.8 ×3
possible org Negara Republik Indonesia p.21 ×2
possible org Bursa Efek Indonesia p.22 ×6
possible person Prof. Dr. Ir. Irwandy Arif p.30 ×2
possible person Benny Kurniawan p.30 ×3
possible person Dr. Ir. Bambang · Komisaris Independen p.33 ×5
possible org Bank Sinarmas Tbk p.33 ×4
possible — Beliau · Komisaris Independen p.33
possible person Suhendra · Direktur p.40
possible person Indra Widjaja. p.42 ×7
possible person Gunawan p.45
possible org Bank Rakyat Indonesia p.45
possible person Adrian Erlangga p.81 ×10
unresolved org Financial Services Authority p.2 ×8
unresolved org Menteri Desa p.7 ×7
unresolved org Minister of Villages p.7 ×7
unresolved org PT Borneo Indobara Mining Circle p.7
unresolved person M. Lutfi Handayani p.8 ×2
unresolved person Drs. Mas Achmad Daniri p.8 ×2
unresolved org PT Borneo Indobara Mining Circle Area p.8
unresolved org Mines Tbk p.9 ×8
unresolved org Menteri Energi dan Sumber p.9 ×3
unresolved org Minister of Energy and Mineral p.9 ×2
unresolved org Minister of Energy and Mineral Coal Environment p.9
unresolved org Minister of Energy p.10
unresolved org PT Kuansing Inti p.10 ×3
unresolved org Kementerian Lingkungan Hidup Kinerja Perusahaan p.10 ×2
unresolved org Ministry of Environment p.10 ×2
unresolved org KEMENTERIAN HUKUM DAN HAK ASASI MANUSIA p.11
unresolved org KEMENTERIAN HUKUM DAN HAK ASASI MANUSIA SURAT PENCATATAN CIPTAAN p.11
unresolved org PT. Borneo Indobara Nama p.11
unresolved — Kewarganegaraan p.11
unresolved — Ciptaan p.11 ×2
unresolved — Judul Ciptaan p.11 ×2
unresolved org PT. Borneo Indobara Judul Ciptaan p.11
unresolved — Jangka waktu pelindungan p.11
unresolved org MENTERI HUKUM DAN HAK ASASI MANUSIA p.11 ×2
unresolved — a.n. MENTERI HUKUM DAN HAK ASASI MANUSIA p.11
unresolved person JENDERAL KEKAYAAN INTELEKTUAL p.11
unresolved — IGNATIUS M.T. SILALAHI p.11
unresolved org Menteri p.11 ×6
unresolved org PT Borneo Indobara Industrial Design p.11
unresolved org PT Borneo Indobara Periode Sertifikasi p.11
unresolved — Sertifikasi / p.11
unresolved org Minister of Director of Copyright p.11
unresolved — 1st, 2024-July 1st, 2054 p.11
unresolved — atas Petunjuk Penggunaan p.11
unresolved — Kompor Briket Borneo p.11
unresolved org PT Superintending p.11 ×2
unresolved — (Sucofindo) p.11
unresolved — Work on Instructions on p.11
unresolved org Ministry of Energy p.14
unresolved org Ministry of Energy and Mineral Resources. ESDM. Bahkan p.19
unresolved org PT Bumi Kencana Eka Sakti. Business Sector p.21
unresolved org PT Bumi Kencana Eka Sakti. Akta Pendirian p.21
unresolved org Menteri Kehakiman Republik Indonesia p.21
unresolved person Notary Imam Santoso p.21 ×2
unresolved org Minister of Justice p.21
unresolved org Menteri Hukum dan Hak Asasi Manusia Republik Indonesia p.21
unresolved person Notary Linda Herawati p.21 ×3
unresolved org Minister of Law and Human Rights p.21 ×2
unresolved org Menteri Hukum dan Hak Asasi Manusia Akta p.21
unresolved org PT Radhika Jananta Raya Kepemilikan p.21
unresolved org PT Bumi Kencana Eka Sakti. p.22 ×4
unresolved org PT Roundhill Capital Indonesia. p.22 ×10
unresolved org PT Roundhill Capital p.22
unresolved org GEMS Coal Resources Pte. Ltd. p.22 ×4
unresolved org Indonesia Stock Exchange p.22 ×5
unresolved org GEMS Trading Resources Pte. Ltd. p.22 ×5
unresolved org PT Kuansing Inti Makmur p.22 ×13
unresolved org United Fiber System Limited p.22 ×2
unresolved org PT Era Mitra Selaras p.22 ×5
unresolved org PT Wahana Rimba Lestari p.22 ×5
unresolved org PT Berkat Satria Abadi p.22 ×4
unresolved org PT Kuansing Inti Sejahtera p.22 ×3
unresolved org PT Bungo Bara Makmur p.22 ×4
unresolved org PT GEMS Energy Indonesia p.22 ×3
unresolved org PT Dwikarya Sejati Utama p.22 ×2
unresolved org PT Duta Sarana Internusa p.22
unresolved org PT Unsoco p.22 ×4
unresolved org PT Barasentosa Lestari p.22 ×4
unresolved org GMR Coal Resources Pte. Ltd. p.22 ×5
unresolved org PT Duta Sarana p.22 ×2
unresolved org PT Gerbangmas Tunggal Sejahtera. Akuisisi p.23
unresolved org Koordinasi Penanaman p.23
unresolved org Bapepam-LK p.23 ×4
unresolved org PT Dian p.23 ×2
unresolved org Swastatika Sentosa Tbk. p.23 ×2
unresolved org PT ABM p.23
unresolved org PT Radhika p.23 ×2
unresolved org Investama Tbk p.23
unresolved org Dian Sentosa Tbk p.23 ×2
unresolved org PT Trisula Kencana Sakti p.29 ×9
unresolved org PT Trisula Kencana Sakti North Barito p.29
unresolved person Dr. Ir. Bambang Setiawan Ketut Sanjaya p.30
unresolved person Dr. Ir. Bambang Setiawan Raden Utoro Ketut Sanjaya Yoghi · Komisaris Independen p.30 ×36
unresolved org PT Sulfindo Adiusaha p.31 ×2
unresolved org PT Standard Toyo Polymer p.31 ×2
unresolved org PT Satomo Indovyl Polymer p.31 ×2
unresolved org PT Satomo Indovyl Monomer p.31 ×2
unresolved org PT Merak Energi Indonesia p.31 ×2
unresolved org PT Artha Sumatera Energi p.31 ×2
unresolved org PT Barasentosa Lestari Grup. p.32 ×5
unresolved org PT Barasentosa Lestari Group. Jakarta Keahlian p.32
unresolved org Satrio Bing p.32 ×2
unresolved org PT DSSP Power Mas Utama p.32 ×2
unresolved org PT Barasentosa Lestari Group. Sarjana Teknik Tambang p.32
unresolved org PT Kaltim Prima Coal p.32 ×3
unresolved org PT Tunas Inti Abadi p.32 ×2
unresolved org PT Reswara Minergi Hartama p.32 ×3
unresolved org PT Cipta Kridatama p.32 ×4
unresolved org Direktorat Jenderal Mineral p.33
unresolved org Directorate General of Mineral p.33
unresolved org PT Archi Bandung p.33
unresolved org Indonesia Tbk p.33
unresolved — Independence Beliau · Komisaris Independen p.33
unresolved org PT Bank Barclays Indonesia p.33 ×2
unresolved org PT Sinar Mas Agro Resources p.33 ×3
unresolved org Technology Tbk p.33 ×3
unresolved org Bank Indonesia p.33 ×2
unresolved org PT Marga Buana Bumi Mulia p.34 ×2
unresolved org PT Hutan Rindang Banua p.34 ×2
unresolved org PT Barasentosa Lestari Group p.34 ×2
unresolved org PT Daya Sakti Unggul Corporindo p.34 ×2
unresolved org Bina Surya Grup Corporation p.34
unresolved org PT Baturona Adimulya p.34 ×2
unresolved org Bina Surya Group Corporation p.34
unresolved org PT Trakindo Utama p.34 ×6
unresolved org PT Inco Soroako p.35 ×2
unresolved org PT Kaltim Prima Coal Raden Utoro p.35
unresolved org PT Kuansing Inti Sejatera p.35
unresolved org PT Trisula Kencana Sakti. Keahlian p.35
unresolved org Trada Maritime Tbk p.35 ×4
unresolved org PT Aerosystem Indonesia p.35 ×2
unresolved org PT Galunggung Indosteel Perkasa p.36 ×2
unresolved org Yayasan Administrasi p.36
unresolved org Yayasan Administrasi Indonesia p.36 ×2
unresolved org PT Barasentosa Lestari Group. Keahlian p.36
unresolved org PT Datang DSSP Power Indonesia p.36 ×2
unresolved org Tobabara Sejahtera Tbk p.37 ×4
unresolved org Menteri Energi Sumber Daya Mineral p.37
unresolved org Sentosa Tbk p.39
unresolved org PT Radhika Jananta p.39
unresolved person Piagam · Komisaris p.40 ×3
unresolved — mencatatkan saham perdana di · The Company listed its initial shares on Indonesia Stock Exchange p.41
unresolved — 17 November 2011. Adapun kronologi pencatatan · on November 17th, 2011. The chronology of the Company’s share p.41
unresolved — hingga 31 Desember 2024 disajikan sebagai berikut. · listing until December 31st, 2024 is presented as follows. p.41
unresolved — menerbitkan efek selain saham di tahun 2024, · The Company did not issue securities other than shares in 2024, p.41
unresolved org PT Tiara Valle Verde p.42
unresolved org Marga Pte. Ltd. p.42
unresolved org PT Radhika Swastatika p.42
unresolved org Jananta Raya Sentosa Tbk p.42
unresolved org Pte. Ltd. p.42
unresolved person Rachmat Mulyana Hamami p.42 ×4
unresolved person Rachmat Sobari Hamami p.42 ×2
unresolved person Ana Solana Hamami. p.42 ×2
unresolved org PT Berkat Satria Abadi KIM p.43
unresolved org PT Karya Cemerlang Persada p.43
unresolved org PT Kuansing Inti Sejahtera TKS p.43
unresolved org PT Bungo Bara Utama p.43
unresolved org PT Bungo Bara Makmur GEMS TR p.43
unresolved org PT Bara Harmonis Batang Asam p.43 ×2
unresolved org PT Dwikarya Sejati Utama KMS p.43
unresolved org PT Karya Mining Solutions p.43
unresolved org PT Berkat Nusantara Permai p.43
unresolved org PT Duta Sarana Internusa GEMS p.43
unresolved org PT Tanjung Belit Bara Utama p.43
unresolved org PT Barasentosa Lestari Energy p.43
unresolved org PT Roundhill p.44
unresolved org PT Trisula p.44
unresolved org PT Karya Mining p.44
unresolved person H. Thamrin p.44 ×10
unresolved org PT GEMS Energy p.44
unresolved org PT Dwikarya Sejati p.44
unresolved org PT Borneo p.44
unresolved org PT Karya Cemerlang Desa Tanjung Belit p.44
unresolved org PT Bungo Bara Kel. Bungo Timur p.44
unresolved org PT Berkat Nusantara Permai Desa Tanjung Belit p.44
unresolved org PT Tanjung Belit p.44
unresolved org PT Wahana Rimba Sinar Mas Land Plaza Tower p.44
unresolved org PT Berkat Satria Sinar Mas Land Plaza Tower p.44
unresolved org PT Kuansing Inti Desa Ujung Tanjung p.45
unresolved org PT Bungo Bara p.45
unresolved org PT Barasentosa p.45
unresolved person Hannywati · Notaris p.45
unresolved org Bank Lender p.45 ×2
unresolved org PT Bank Rakyat Indonesia BSL Modal Kerja p.45
unresolved org PT Bank Negara Indonesia BSL Modal Kerja p.46
unresolved org Bank Loans Liabilitas Jangka Pendek Lain-Lain p.55
unresolved org Menteri Energi dan Sumber Daya Mineral p.62
unresolved org Pengelola Dana Perkebunan Kelapa Sawit p.62
unresolved person Notary Hannywati Gunawan · Notaris p.80 ×6
unresolved org Kantor Akuntan Publik Mirawati Sensi Idris p.81 ×4
unresolved org Kantor Akuntan Publik Independen Mirawati Sensi Idris p.81
unresolved person Maria Leckzinska · Akuntan Publik p.82 ×2
unresolved person Dr. Ir. Bambang Setiawan Independent p.85
unresolved person Dr. Ir. Bambang Ketut Sanjaya Independency Aspect p.86
unresolved person Vice · President Commissioner p.87 ×2
unresolved — Setiawan · Independent Commissioner p.87

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