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Page 1
PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN INTERIM
31 MARET 2026 DAN 31 DESEMBER 2025
SERTA UNTUK PERIODE TIGA BULAN YANG BERAKHIR
31 MARET 2026 DAN 2025
BESERTA LAPORAN AUDITOR INDEPENDEN/
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
31 MARCH 2026 AND 31 DECEMBER 2025
AND FOR THE THREE-MONTH PERIODS ENDED
31 MARCH 2026 AND 2025
AND INDEPENDENT AUDITORS’ REPORTS
Page 2
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN INTERIM INTERIM CONSOLIDATED FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
SERTA UNTUK PERIODE TIGA BULAN YANG BERAKHIR AND FOR THE THREE-MONTH PERIODS ENDED
31 MARET 2026 DAN 2025 31 MARCH 2026 AND 2025
DAFTAR ISI CONTENTS
Pernyataan Direksi Directors’ Statement
Ekshibit/
Exhibit
Laporan Keuangan Konsolidasian Interim: Interim Consolidated Financial Statements:
Laporan Posisi Keuangan Konsolidasian Interim A Interim Consolidated Statements of Financial Position
Laporan Laba Rugi dan Penghasilan Komprehensif Interim Consolidated Statements of Profit or Loss
Lain Konsolidasian Interim B and Other Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian Interim C Interim Consolidated Statements of Changes in Equity
Laporan Arus Kas Konsolidasian Interim D Interim Consolidated Statements of Cash Flows
Catatan atas Laporan Keuangan Konsolidasian Interim E Notes to the Interim Consolidated Financial Statements
Laporan Auditor Independen Independent Auditors’ Reports
Page 3
Page 4
Page 5
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit A/1 Exhibit A/1
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN INTERIM CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN INTERIM FINANCIAL POSITION
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31 Maret/ 31 Desember/
Catatan/ March December
Notes 2026 2025
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan bank 2g,4 349,798,048 192,638,927 Cash and cash in banks
Piutang usaha 2h Trade receivables
- pihak ketiga 5 221,453,844 212,161,022 third parties -
- pihak berelasi 5,33 43,884,153 77,619,433 related parties -
Piutang lain-lain 2h Other receivables
- pihak ketiga 5,267,014 4,786,941 third parties -
- pihak berelasi 33 1,203,660 716,383 related parties -
Persediaan 2i,6 283,482,973 232,296,189 Inventories
Uang muka dan biaya dibayar di muka – Advances and prepayments -
bagian lancar 7 23,069,744 24,677,362 current portion
Pinjaman kepada pihak berelasi – bagian Loan to related parties –
lancar 33 11,458,333 11,458,333 current portion
Pajak dibayar di muka – bagian lancar 30b 22,515,963 25,208,877 Prepaid taxes – current portion
Aset derivatif 31 8,170,769 - Derivative assets
Estimasi klaim pengembalian pajak 30a 105,733,757 123,649,440 Estimated claims for tax refund
Jumlah aset lancar 1,076,038,258 905,212,907 Total current assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Uang muka dan biaya dibayar di muka - Advances and prepayments –
bagian tidak lancar 7 56,486,693 56,509,076 non-current portion
Uang muka investasi 8 54,812,958 20,828,665 Advances of investments
Investasi pada entitas asosiasi 2c,9 130,136,206 129,824,398 Investment in associates
Aset hak-guna 2u,10 9,088,740 8,131,636 Right-of-use assets
Aset tetap 2j,11 1,776,556,669 1,764,201,215 Property, plant and equipment
Properti pertambangan 2k,12 480,241,535 483,625,406 Mining properties
Goodwill 2l,13 358,694,581 358,694,581 Goodwill
Pinjaman kepada pihak berelasi – bagian Loan to related parties –
tidak lancar 33 18,200,000 - non-current portion
Aset pajak tangguhan 2n,30e 3,049,007 3,886,774 Deferred tax assets
Aset takberwujud 1,193,435 1,289,719 Intangible assets
Aset tidak lancar lain-lain 3,782,198 3,129,585 Other non-current assets
Jumlah aset tidak lancar 2,892,242,022 2,830,121,055 Total non-current assets
JUMLAH ASET 3,968,280,280 3,735,333,962 TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan statements on Exhibit E form an integral part of these interim
keuangan konsolidasian interim secara keseluruhan. consolidated financial statements taken as a whole.
Page 6
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit A/2 Exhibit A/2
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN INTERIM CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN INTERIM FINANCIAL POSITION
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31 Maret/ 31 Desember/
Catatan/ March December
Notes 2026 2025
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang usaha 2o Trade payables
- pihak ketiga 14 145,900,311 153,139,282 third parties -
- pihak berelasi 14,33 3,183,018 4,309,725 related parties -
Utang lain-lain 24 - 46,506,800 Other payables
Beban yang masih harus dibayar –
bagian jangka pendek 15 88,819,011 87,251,615 Accrued expenses – current portion
Utang pajak 30c 16,933,799 7,090,139 Taxes payable
Utang dividen 24 - 16,117,700 Dividends payables
Liabilitas kontrak 27,076,768 6,910,478 Contract liabilities
Liabilitas derivatif – bagian jangka pendek 2w,31 8,548,869 5,667,510 Derivative liabilities – current portion
Pinjaman - bagian yang jatuh tempo dalam
setahun: Borrowings – current portion:
- Pinjaman dan fasilitas kredit bank 2p,17 155,000,000 2,500,000 Bank loans and credit facility -
- Utang obligasi 2p,19 175,264,531 176,430,742 Bonds payable -
- Sukuk 2p,20 51,065,068 51,414,165 Sharia bonds -
- Liabilitas sewa 2u,16 2,019,458 2,052,422 Lease liabilities -
Jumlah liabilitas jangka pendek 673,810,833 559,390,578 Total current liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Beban yang masih harus dibayar –
bagian jangka panjang 15 4,107,182 3,154,347 Accrued expenses – non-current portion
Pinjaman – setelah dikurangi bagian yang
jatuh tempo dalam setahun: Borrowings – net of current portion:
- Pinjaman dan fasilitas kredit bank 2p,17 93,361,580 95,743,022 Bank loans and credit facility -
- Pinjaman dari pemegang saham entitas Loans from shareholder of -
anak 2p,17 52,737,100 30,681,300 subsidiaries
- Utang obligasi 2p,19 432,360,414 435,586,169 Bonds payable -
- Sukuk 2p,20 147,691,072 148,797,350 Sharia bonds -
- Liabilitas sewa 2u,16 1,370,106 1,735,816 Lease liabilities -
Liabilitas pajak tangguhan 2n,30f 82,205,347 81,682,689 Deferred tax liabilities
Liabilitas imbalan kerja jangka panjang 2r,18 4,787,334 4,208,208 Long-term employee benefits liabilities
Provisi rehabilitasi, reklamasi dan Provision for rehabilitation,
penutupan tambang 2s,21 9,620,777 9,946,835 reclamation and mine closure
Liabilitas derivatif – Derivative liabilities –
bagian jangka panjang 2w,31 25,515,383 16,353,583 non-current portion
Jumlah liabilitas jangka panjang 853,756,295 827,889,319 Total non-current liabilities
JUMLAH LIABILITAS 1,527,567,128 1,387,279,897 TOTAL LIABILITIES
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan statements on Exhibit E form an integral part of these interim
keuangan konsolidasian interim secara keseluruhan. consolidated financial statements taken as a whole.
Page 7
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit A/3 Exhibit A/3
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN INTERIM CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN INTERIM FINANCIAL POSITION
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31 Maret/ 31 Desember/
Catatan/ March December
Notes 2026 2025
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
EKUITAS EQUITY
Ekuitas yang dapat diatribusikan kepada
Equity attributable to owners of
pemilik entitas induk the parent entity
Modal saham - modal dasar 430.000.000.000
lembar saham, modal ditempatkan dan Share capital – authorized capital
disetor 107.995.419.900 lembar saham
430,000,000,000 shares, issued and paid-
dengan nilai nominal Rp100 per lembar up capital 107,995,419,900 shares at par
saham 22 739,792,644 739,792,644 value of Rp100 per share
Tambahan modal disetor - bersih 23 765,647,898 765,639,788 Additional paid-in capital - net
Selisih nilai dari transaksi dengan Difference in value from transactions
kepentingan non-pengendali ( 365,412 )( 365,412) with non-controlling interest
Penghasilan/(kerugian) komprehensif lain 5,241,706 ( 1,042,544) Other comprehensive income/(loss)
Saldo laba Retained earnings
- Dicadangkan 4,000 4,000 Appropriated -
- Belum dicadangkan 109,546,632 79,598,147 Unappropriated -
Jumlah ekuitas yang dapat diatribusikan Total equity attributable to
kepada pemilik entitas induk 1,619,867,468 1,583,626,623 owners of the parent entity
Kepentingan non-pengendali 24 820,845,684 764,427,442 Non-controlling interests
JUMLAH EKUITAS 2,440,713,152 2,348,054,065 TOTAL EQUITY
JUMLAH LIABILITAS DAN EKUITAS 3,968,280,280 3,735,333,962 TOTAL LIABILITIES AND EQUITY
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan statements on Exhibit E form an integral part of these interim
keuangan konsolidasian interim secara keseluruhan. consolidated financial statements taken as a whole.
Page 8
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit B Exhibit B
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN INTERIM AND OTHER COMPREHENSIVE INCOME
UNTUK PERIODE TIGA BULAN YANG BERAKHIR FOR THE THREE-MONTH PERIODS ENDED
31 MARET 2026 DAN 2025 31 MARCH 2026 AND 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
Catatan/ 31 Maret/ 31 Maret/
Notes March 2026 March 2025
Pendapatan usaha 2v,25 455,134,050 366,110,676 Revenue
Beban pokok pendapatan 2v,26 ( 330,304,722) ( 347,237,258) Cost of revenue
Laba kotor 124,829,328 18,873,418 Gross profit
Beban usaha 2v,27 Operating expenses
Beban penjualan dan pemasaran ( 1,313,163) ( 1,064,876 ) Selling and marketing expenses
Beban umum dan administrasi ( 10,121,702) ( 6,275,826 ) General and administrative expenses
Laba usaha 113,394,463 11,532,716 Operating profit
Pendapatan keuangan 2,154,479 1,674,299 Finance income
Biaya keuangan 28 ( 16,570,747) ( 3,040,931 ) Finance costs
Bagian atas keuntungan bersih entitas asosiasi 389,600 610,389 Share in net profit of associates
Beban lain-lain – bersih 29 ( 3,619,709) ( 2,873,596 ) Other expenses – net
Laba sebelum pajak penghasilan 95,748,086 7,902,877 Profit before income tax
Beban manfaat pajak penghasilan 2n,30d ( 13,791,538) ( 1,757,759 ) Income tax expense
Laba periode berjalan 81,956,548 6,145,118 Profit for the period
Penghasilan/(kerugian) komprehensif lain Other comprehensive income/(loss)
periode berjalan for the period
Pos yang akan direklasifikasi ke laba rugi: Items that will be reclassified to profit or loss:
Selisih kurs karena penjabaran laporan Exchange difference due to financial
keuangan ( 89,341) ( 262,277 ) statements translation
Bagian penghasilan komprehensif lain dari Share of other comprehensive income
entitas asosiasi 570 - of associates
Perubahan nilai wajar pada lindung nilai arus kas 31 8,170,769 - Changes in fair value of cash flow hedges
Pajak penghasilan terkait pos ini 30f ( 1,797,569) - Income tax relating to this item
6,284,429 ( 262,277 )
Jumlah penghasilan komprehensif periode
berjalan 88,240,977 5,882,841 Total comprehensive income for the period
Laba/(rugi) periode berjalan yang dapat
diatribusikan kepada: Profit/(loss) for the period attributable to:
Pemilik entitas induk 29,948,485 ( 3,457,255 ) Owners of the parent entity
Kepentingan non-pengendali 24 52,008,063 9,602,373 Non-controlling interests
JUMLAH 81,956,548 6,145,118 TOTAL
Jumlah penghasilan/(kerugian) komprehensif
periode berjalan yang dapat diatribusikan Total comprehensive income/(loss) for the
kepada: period attributable to:
Pemilik entitas induk 36,232,735 ( 3,720,834 ) Owners of the parent entity
Kepentingan non-pengendali 24 52,008,242 9,603,675 Non-controlling interests
JUMLAH 88,240,977 5,882,841 TOTAL
Laba/(rugi) per saham yang dapat diatribusikan Earnings/(loss) per share attributable
kepada pemilik entitas induk 2t,36 to owners of the parent entity
- Dasar 0.00028 ( 0.00003 ) Basic -
- Dilusian 0.00028 ( 0.00003 ) Diluted -
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan statements on Exhibit E form an integral part of these interim
keuangan konsolidasian interim secara keseluruhan. consolidated financial statements taken as a whole.
Page 9
These interim consolidated financial statements are originally issued in
Indonesian language
Ekshibit C/1 Exhibit C/1
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN INTERIM INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
UNTUK PERIODE TIGA BULAN YANG BERAKHIR FOR THE THREE-MONTH PERIODS ENDED
31 MARET 2026 DAN 2025 31 MARCH 2026 AND 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk/Equity attributable to owners of the parent entity
Kerugian
Selisih nilai dari komprehensif
transaksi dengan lain/
kepentingan non- Other
Tambahan pengendali/ comprehensive Saldo laba/
modal disetor - Difference in value loss Retained earnings
bersih/ from transactions Translasi mata Kepentingan non-
Additional with non- uang asing/ Belum pengendali/
Catatan/ Modal saham/ paid-in capital controlling Foreign currency Dicadangkan/ dicadangkan/ Jumlah/ Non-controlling Jumlah ekuitas/
Notes Share capital - net interests translation Appropriated Unappropriated Total interests Total equity
Saldo pada tanggal Balance as of
1 Januari 2025 739,792,644 765,675,594 ( 365,412 ) ( 565,727 ) 3,000 50,008,474 1,554,548,573 794,697,270 2,349,245,843 1 January 2025
Laba/(rugi) periode berjalan - - - - - ( 3,457,255 ) ( 3,457,255 ) 9,602,373 6,145,118 Profit/(loss) for the period
(Kerugian)/penghasilan Other comprehensive
komprehensif lain periode (loss)/income for the
berjalan - - - ( 263,579 ) - - ( 263,579 ) 1,302 ( 262,277 ) period
Pembayaran berbasis saham - 11,114 - - - - 11,114 - 11,114 Share-based payments
Saldo pada tanggal Balance as of
31 Maret 2025 22 739,792,644 765,686,708 ( 365,412) ( 829,306 ) 3,000 46,551,219 1,550,838,853 804,300,945 2,355,139,798 31 March 2025
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan statements on Exhibit E form an integral part of
konsolidasian interim secara keseluruhan. these interim consolidated financial statements taken as a whole.
Page 10
These interim consolidated financial statements are originally issued in
Indonesian language
Ekshibit C/2 Exhibit C/2
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN INTERIM INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
UNTUK PERIODE TIGA BULAN YANG BERAKHIR FOR THE THREE-MONTH PERIODS ENDED
31 MARET 2026 DAN 2025 31 MARCH 2026 AND 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk/Equity attributable to owners of the parent entity
Penghasilan/(kerugian) komprehensif lain/ Saldo laba/
Other comprehensive income/(loss) Retained earnings
Selisih nilai dari Perubahan nilai
transaksi dengan Penghasilan wajar pada
kepentingan non- komprehensif lindung nilai
pengendali/ lain atas entitas arus kas/ Kepentingan
Tambahan modal Difference in value Translasi mata asosiasi/Other Changes in fair non-
disetor - bersih/ from transactions uang asing/ comprehensive value of pengendali/
Catatan/ Modal saham/ Additional paid- with non-controlling Foreign currency income of cash flow Dicadangkan/ Belum dicadangkan/ Jumlah/ Non-controlling Jumlah ekuitas/
Notes Share capital in capital - net interests translation associates hedges Appropriated Unappropriated Total interests Total equity
Saldo pada tanggal
1 Januari 2026 Balance as of
739,792,644 765,639,788 ( 365,412 ) ( 1,042,544 ) - - 4,000 79,598,147 1,583,626,623 764,427,442 2,348,054,065 1 January 2026
Laba periode berjalan - - - - - - - 29,948,485 29,948,485 52,008,063 81,956,548 Profit for the period
Penghasilan/(kerugian) Other comprehensive
komprehensif lain income/(loss) for the
periode berjalan - - - ( 89,520 ) 570 6,373,200 - - 6,284,250 179 6,284,429 period
Uang muka setoran Advances for share
modal dari capital subscriptions
kepentingan non- from non-controlling
pengendali - - - - - - - - - 4,410,000 4,410,000 interests
Pembayaran berbasis
saham - 8,110 - - - - - - 8,110 - 8,110 Share-based payments
Saldo pada tanggal Balance as of
31 Maret 2026 22 739,792,644 765,647,898 ( 365,412) ( 1,132,064 ) 570 6,373,200 4,000 109,546,632 1,619,867,468 820,845,684 2,440,713,152 31 March 2026
Catatan atas laporan keuangan konsolidasian interim pada Ekshibit E The accompanying notes to the interim consolidated financial
terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan statements on Exhibit E form an integral part of
konsolidasian interim secara keseluruhan. these interim consolidated financial statements taken as a whole.
Page 11
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit D Exhibit D
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN INTERIM INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK PERIODE TIGA BULAN YANG BERAKHIR FOR THE THREE-MONTH PERIODS ENDED
31 MARET 2026 DAN 2025 31 MARCH 2026 AND 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31 Maret/ 31 Maret/
Catatan/ March March
Notes 2026 2025
Arus kas dari aktivitas operasi Cash flows from operating activities
Penerimaan dari pelanggan 499,742,798 391,932,050 Receipts from customers
Pembayaran kepada pemasok, kontraktor dan lain-lain ( 356,035,054 ) ( 389,387,995 ) Payments to suppliers, contractors and others
Penerimaan restitusi pajak pertambahan nilai 30i 23,934,563 5,108,736 Receipts of value-added tax refunds
Pembayaran biaya karyawan ( 18,620,221 ) ( 19,448,579 ) Payments of employee costs
Penerimaan restitusi pajak penghasilan badan 6,537,915 - Receipts of corporate income tax refunds
Pembayaran pajak penghasilan badan ( 5,563,389 ) ( 2,897,115 ) Payments of corporate income tax
Penerimaan lain-lain - bersih 1,946,836 2,228,751 Other receipts - net
Penerimaan penghasilan bunga 1,667,202 1,585,605 Receipts of finance income
Penempatan kas dan deposito berjangka yang dibatasi Placement of restricted cash and
penggunaannya ( 713,133 ) - time deposits
Arus kas bersih yang diperoleh dari/(digunakan Net cash flows provided from/(used in)
untuk) aktivitas operasi 152,897,517 ( 10,878,547 ) operating activities
Arus kas dari aktivitas investasi Cash flows from investing activities
Pembayaran atas uang muka investasi 8 ( 33,984,293 ) ( 30,347,329 ) Payments of advances of investments
Perolehan aset tetap ( 31,850,248 ) ( 49,038,340 ) Acquisitions of property, plant and equipment
Penambahan pinjaman kepada pihak berelasi 33 ( 18,200,000 ) ( 11,458,333 ) Additions of loan to related parties
Penambahan properti pertambangan ( 2,100,934 ) ( 1,183,669 ) Additions of mining properties
Penerimaan penghasilan bunga pinjaman - 4,202 Receipts of loan finance income
Arus kas bersih yang digunakan untuk aktivitas
investasi ( 86,135,475 ) ( 92,023,469 ) Net cash flows used in investing activities
Arus kas dari aktivitas pendanaan Cash flows from financing activities
Penerimaan dari pinjaman dan kredit fasilitas bank 17 150,000,000 22,000,000 Proceeds from bank loans and credit facility
Pembayaran pengurangan modal entitas anak kepada Payments of subsidiary’s share capital reduction to
kepentingan non-pengendali ( 46,506,800 ) - non-controlling interest
Penerimaan pinjaman dari pemegang saham Proceeds from loans from shareholder
entitas anak 17 22,055,800 - of subsidiaries
Pembayaran biaya keuangan ( 19,822,809 ) ( 19,514,570 ) Payments of finance costs
Pembayaran dividen kepada kepentingan non-
pengendali 24 ( 16,117,700 ) ( 270,607 ) Payments of dividends to non-controlling interests
Penerimaan dari uang muka penyertaan modal entitas Receipts from advances for subsidiaries’ share
anak dari kepentingan non-pengendali 24 4,410,000 - capital subscriptions from non-controlling interests
Pembayaran liabilitas sewa ( 1,728,950 ) ( 644,331 ) Payments of lease liabilities
Pembayaran biaya penerbitan obligasi ( 37,445 ) ( 289,667 ) Payments of bonds payable-related costs
Pembayaran biaya penerbitan sukuk ( 23,945 ) - Payments of sharia bonds-related costs
Pembayaran pinjaman dari pemegang saham - ( 7,000,000 ) Repayments of loans from shareholder
Penerimaan pinjaman dari pemegang saham - 81,700,000 Proceeds from loans from shareholder
Arus kas bersih yang diperoleh dari aktivitas
pendanaan 92,228,151 75,980,825 Net cash flows provided from financing activities
Net increase/(decrease) in
Kenaikan/(penurunan) bersih kas dan bank 158,990,193 ( 26,921,191 ) cash and cash in banks
Cash and cash in banks at the
Kas dan bank pada awal periode 192,638,927 244,034,440 beginning of the period
Efek nilai tukar mata uang asing terhadap Effect of foreign exchange translation
kas dan bank ( 1,831,072 ) ( 2,367,274 ) on cash and cash in banks
Kas dan bank pada akhir periode 349,798,048 214,745,975 Cash and cash in banks at the end of the period
Lihat Catatan 32 untuk penyajian informasi arus kas Grup. Refer to Note 32 for presentation of the Group’s cash flow information.
Catatan atas laporan keuangan konsolidasian interim pada The accompanying notes to the interim consolidated financial statements
Ekshibit E terlampir merupakan bagian yang tidak terpisahkan dari on Exhibit E form an integral part of
laporan keuangan konsolidasian interim secara keseluruhan. these interim consolidated financial statements taken as a whole.
Page 12
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/1 Exhibit E/1
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM 1. GENERAL
a. Pendirian Perusahaan dan informasi umum a. Establishment of the Company and general
information
PT Merdeka Battery Materials Tbk PT Merdeka Battery Materials Tbk (the
(“Perusahaan”) didirikan berdasarkan Akta “Company”) was established based on Deed of
Pendirian Perusahaan No. 66 tertanggal Establishment of the Company No. 66 dated
20 Agustus 2019, yang dibuat di hadapan 20 August 2019, drawn up before Darmawan
Darmawan Tjoa, S.H., S.E., Notaris di Tjoa, S.H., S.E., Notary in Jakarta, under the
Jakarta, dengan nama PT Hamparan Logistik name PT Hamparan Logistik Nusantara. This
Nusantara. Akta ini disahkan oleh Menteri Deed was ratified by the Minister of Law and
Hukum dan Hak Asasi Manusia Republik Human Rights of the Republic of Indonesia by
Indonesia melalui Surat Keputusan No. AHU- virtue of Decree No. AHU-
0041804.AH.01.01.TAHUN 2019 tanggal 0041804.AH.01.01.TAHUN 2019 dated 22 August
22 Agustus 2019 dan telah diumumkan dalam 2019 and was published in the State Gazzete of
Berita Negara Republik Indonesia No. 80 the Republic of Indonesia No. 80 dated
tanggal 7 Oktober 2022, Tambahan Berita 7 October 2022, Supplement to the State
Negara Republik Indonesia No. 34684. Gazette of the Republic of Indonesia
No. 34684.
Anggaran Dasar Perusahaan telah diubah The Articles of Association of the Company have
beberapa kali, dengan perubahan terakhir been amended several times, most recently by
berdasarkan Akta Pernyataan Keputusan the Deed of Statement of Meeting Resolutions
Rapat Perubahan Anggaran Dasar Perusahaan on the Amendments to the Articles of
No. 31 tertanggal 6 Desember 2024 yang Association of the Company No. 31 dated
dibuat di hadapan Jose Dima Satria, S.H., 6 December 2024, drawn up before Jose Dima
M.Kn., Notaris di Kota Administrasi Jakarta Satria, S.H., M.Kn., Notary in South Jakarta
Selatan, untuk memutuskan dan menyetujui, Administrative City, to decide and approve,
antara lain, perubahan Pasal 18 ayat 3 among others, the amendment to Article 18
Anggaran Dasar Perusahaan terkait tugas dan paragraph 3 of the Company’s Articles of
wewenang Direksi. Perubahan Anggaran Dasar Association regarding roles and authority of the
tersebut telah diberitahukan kepada Menteri Board of Directors. Such amendment to the
Hukum Republik Indonesia yang dibuktikan Articles of Association has been notified to the
dengan Surat Penerimaan Pemberitahuan Minister of Law of the Republic of Indonesia as
Perubahan Anggaran Dasar No. AHU- evidenced by the Notification Receipt of
AH.01.03-0221318 tertanggal 13 Desember Amendment of the Articles of Association
2024. No. AHU-AH.01.03-0221318 dated 13 December
2024.
Sesuai dengan Pasal 3 Anggaran Dasar In accordance with Article 3 of the Articles of
Perusahaan, lingkup kegiatan usaha Association, the scope of activities of the
Perusahaan adalah berusaha dalam aktivitas Company is engaged in holding company and
perusahaan holding dan konsultasi other management consulting activities.
manajemen lainnya. Saat ini, kegiatan usaha Currently, the business activity carried out by
yang dijalankan oleh Perusahaan adalah the Company is as a holding company of a
sebagai perusahaan induk atas grup usaha business group engaged in nickel and other
yang bergerak di bidang pertambangan nikel mineral mining, processing and other related
dan mineral lainnya, pengolahan dan kegiatan business activities that are vertically
usaha terkait lainnya yang terintegrasi secara integrated.
vertikal.
Page 13
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/2 Exhibit E/2
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
a. Pendirian Perusahaan dan informasi umum a. Establishment of the Company and general
(Lanjutan) information (Continued)
Kantor pusat Perusahaan berlokasi di Gedung The Company’s registered office is located at
Treasury Tower Lantai 69, District 8 SCBD Treasury Tower Building 69th Floor, District 8
Lot. 28, Senayan, Kebayoran Baru, Jakarta SCBD Lot. 28, Senayan, Kebayoran Baru, South
Selatan 12190, DKI Jakarta. Jakarta 12190, DKI Jakarta.
Entitas induk langsung Perusahaan adalah The Company’s immediate parent entity is
PT Merdeka Energi Nusantara dan entitas PT Merdeka Energi Nusantara and its ultimate
induk terakhir Perusahaan adalah parent entity is PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk (“MDKA”), (“MDKA”), a company incorporated in Indonesia
perusahaan yang berdiri di Indonesia dan and listed on the Indonesia Stock Exchange
terdaftar di Bursa Efek Indonesia (“BEI”). (“IDX”).
b. Penawaran umum efek Perusahaan b. Company’s Public Offering
Pada bulan April 2023, Perusahaan In April 2023, the Company has obtained its
memperoleh Pernyataan Efektif dari Otoritas Effective Statement from Financial Services
Jasa Keuangan (“OJK”) melalui surat Authority (“OJK”) in its letter No. S-97/D.04/2023
No. S-97/D.04/2023 tertanggal 11 April 2023 dated 11 April 2023 to conduct an Initial Public
untuk melakukan Penawaran Umum Saham Offering (“IPO”) in the amount of
Perdana (“IPO”) sebanyak 11.549.999.900 11,549,999,900 ordinary shares (10.7% of
lembar saham biasa (10,7% dari 107,995,419,900 issued and fully paid-up
107.995.419.900 modal saham yang shares) at par value of Rp100 per share and IPO
ditempatkan dan disetor penuh) dengan nilai price of Rp795 per share. The shares offered to
nominal Rp100 per saham dan harga IPO the public in the IPO were listed on the IDX on
Rp795 per saham. Penawaran kepada 18 April 2023.
masyarakat tersebut dicatat di BEI pada
tanggal 18 April 2023.
Ringkasan penawaran umum obligasi dan The summary of bonds and sharia bonds
sukuk yang diterbitkan Perusahaan dengan offering issued by the Company with PT Bank
PT Bank Rakyat Indonesia (Persero) Tbk Rakyat Indonesia (Persero) Tbk as Trustee up to
sebagai Wali Amanat sampai dengan tanggal 31 March 2026 are as follows:
31 Maret 2026 adalah sebagai berikut:
Jumlah Tanggal/Date
(dalam juta
Rp)/ Setara
Obligasi dan sukuk/ Amount dengan US$/ Jatuh
Bonds and (in million Equivalent to Pencatatan/ tempo/
No. sharia bonds Rp) US$* Listing Maturity Keterangan/Remarks Status
1 Obligasi I Merdeka Rp525,000 33,164,877 4 April 2024 10 April Memperoleh pernyataan Lunas/Paid
Battery Materials 2025 efektif dari OJK No. S-
Tahun 2024 Seri 42/D.04/2024 tertanggal
A/Bonds I Merdeka 22 Maret 2024/Obtained
Battery Materials Effective Statement from
Year 2024 Series A OJK in its letter
No. S-42/D.04/2024 dated
22 March 2024
2 Obligasi I Merdeka Rp975,000 61,591,914 4 April 2024 3 April Memperoleh pernyataan Belum jatuh
Battery Materials 2027 efektif dari OJK No. S- tempo/
Tahun 2024 Seri 42/D.04/2024 tertanggal Outstanding
B/Bonds I Merdeka 22 Maret 2024/Obtained
Battery Materials Effective Statement from
Year 2024 Series B OJK in its letter
No. S-42/D.04/2024 dated
22 March 2024
Page 14
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/3 Exhibit E/3
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran umum efek Perusahaan b. Company’s Public Offering (Continued)
(Lanjutan)
Ringkasan penawaran umum obligasi dan The summary of bonds and sharia bonds
sukuk yang diterbitkan Perusahaan dengan offering issued by the Company with PT Bank
PT Bank Rakyat Indonesia (Persero) Tbk Rakyat Indonesia (Persero) Tbk as Trustee up to
sebagai Wali Amanat sampai dengan tanggal 31 March 2026 are as follows: (Continued)
31 Maret 2026 adalah sebagai berikut:
(Lanjutan)
Jumlah Tanggal/Date
(dalam juta
Rp)/ Setara
Obligasi dan sukuk/ Amount dengan US$/ Jatuh
Bonds and (in million Equivalent to Pencatatan/ tempo/
No. sharia bonds Rp) US$* Listing Maturity Keterangan/Remarks Status
3 Obligasi II Merdeka Rp216,015 14,252,771 9 Oktober/ 15 Memperoleh pernyataan Lunas/Paid
Battery Materials October 2024 Oktober/ efektif dari OJK No. S-
Tahun 2024 Seri October 134/D.04/2024 tertanggal
A/Bonds II Merdeka 2025 30 September 2024/
Battery Materials Obtained Effective
Year 2024 Series A Statement from OJK in its
letter No. S-134/D.04/2024
dated 30 September 2024
4 Obligasi II Merdeka Rp1,783,985 117,708,168 9 Oktober/ 8 Memperoleh pernyataan Belum jatuh
Battery Materials October 2024 Oktober/ efektif dari OJK No. S- tempo/
Tahun 2024 Seri October 134/D.04/2024 tertanggal Outstanding
B/Bonds II Merdeka 2027 30 September 2024/
Battery Materials Obtained Effective
Year 2024 Series B Statement from OJK in its
letter No. S-134/D.04/2024
dated 30 September 2024
5 Obligasi III Merdeka Rp824,950 49,740,730 16 April 2025 22 April Memperoleh pernyataan Belum jatuh
Battery Materials 2026 efektif dari OJK No. S- tempo/
Tahun 2025 Seri 27/D.04/2025 tertanggal Outstanding
A/Bonds III Merdeka 27 Maret 2025/
Battery Materials Obtained Effective
Year 2025 Series A Statement from OJK in its
letter No. S-27/D.04/2025
dated 27 March 2025
6 Obligasi III Merdeka Rp357,380 21,548,387 16 April 2025 15 April Memperoleh pernyataan Belum jatuh
Battery Materials 2028 efektif dari OJK No. S- tempo/
Tahun 2025 Seri 27/D.04/2025 tertanggal Outstanding
B/Bonds III Merdeka 27 Maret 2025/
Battery Materials Obtained Effective
Year 2025 Series B Statement from OJK in its
letter No. S-27/D.04/2025
dated 27 March 2025
7 Obligasi III Merdeka Rp214,485 12,932,469 16 April 2025 15 April Memperoleh pernyataan Belum jatuh
Battery Materials 2030 efektif dari OJK No. S- tempo/
Tahun 2025 Seri 27/D.04/2025 tertanggal Outstanding
C/Bonds III Merdeka 27 Maret 2025/
Battery Materials Obtained Effective
Year 2025 Series C Statement from OJK in its
letter No. S-27/D.04/2025
dated 27 March 2025
8 Obligasi Berkelanjutan I Rp1,158,735 70,892,322 9 Juli/ 15 Juli/ Memperoleh pernyataan Belum jatuh
Merdeka Battery July 2025 July 2026 efektif dari OJK No. S- tempo/
Materials Tahap I 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri A/ 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche I letter No. S-71/D.04/2025
Year 2025 Series A dated 30 June 2025
Page 15
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/4 Exhibit E/4
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran umum efek Perusahaan b. Company’s Public Offering (Continued)
(Lanjutan)
Ringkasan penawaran umum obligasi dan The summary of bonds and sharia bonds
sukuk yang diterbitkan Perusahaan dengan offering issued by the Company with PT Bank
PT Bank Rakyat Indonesia (Persero) Tbk Rakyat Indonesia (Persero) Tbk as Trustee up to
sebagai Wali Amanat sampai dengan tanggal 31 March 2026 are as follows: (Continued)
31 Maret 2026 adalah sebagai berikut:
(Lanjutan)
Jumlah Tanggal/Date
(dalam juta
Rp)/ Setara
Obligasi dan sukuk/ Amount dengan US$/ Jatuh
Bonds and (in million Equivalent to Pencatatan/ tempo/
No. sharia bonds Rp) US$* Listing Maturity Keterangan/Remarks Status
9 Obligasi Berkelanjutan I Rp526,185 32,192,414 9 Juli/ 8 Juli/ Memperoleh pernyataan Belum jatuh
Merdeka Battery July 2025 July 2028 efektif dari OJK No. S- tempo/
Materials Tahap I 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri B/ 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche I letter No. S-71/D.04/2025
Year 2025 Series B dated 30 June 2025
10 Obligasi Berkelanjutan I Rp436,740 26,720,098 9 Juli/ 8 Juli/ Memperoleh pernyataan Belum jatuh
Merdeka Battery July 2025 July 2030 efektif dari OJK No. S- tempo/
Materials Tahap I 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri C/ 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche I letter No. S-71/D.04/2025
Year 2025 Series C dated 30 June 2025
11 Sukuk Mudharabah Rp213,345 13,052,615 9 Juli/ 15 Juli/ Memperoleh pernyataan Belum jatuh
Berkelanjutan I July 2025 July 2026 efektif dari OJK No. S- tempo/
Merdeka Battery 71/D.04/2025 tertanggal Outstanding
Materials Tahap I 30 Juni 2025/
Tahun 2025 Seri A/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche I
Year 2025 Series A
12 Sukuk Mudharabah Rp386,655 23,655,858 9 Juli/ 8 Juli/ Memperoleh pernyataan Belum jatuh
Berkelanjutan I July 2025 July 2028 efektif dari OJK No. S- tempo/
Merdeka Battery 71/D.04/2025 tertanggal Outstanding
Materials Tahap I 30 Juni 2025/
Tahun 2025 Seri B/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche I
Year 2025 Series B
13 Obligasi Berkelanjutan I Rp984,066 60,699,852 21 Agustus/ 27 Memperoleh pernyataan Belum jatuh
Merdeka Battery August 2025 Agustus/ efektif dari OJK No. S- tempo/
Materials Tahap II August 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri A/ 2026 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche II letter No. S-71/D.04/2025
Year 2025 Series A dated 30 June 2025
Page 16
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/5 Exhibit E/5
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran umum efek Perusahaan b. Company’s Public Offering (Continued)
(Lanjutan)
Ringkasan penawaran umum obligasi dan The summary of bonds and sharia bonds
sukuk yang diterbitkan Perusahaan dengan offering issued by the Company with PT Bank
PT Bank Rakyat Indonesia (Persero) Tbk Rakyat Indonesia (Persero) Tbk as Trustee up to
sebagai Wali Amanat sampai dengan tanggal 31 March 2026 are as follows: (Continued)
31 Maret 2026 adalah sebagai berikut:
(Lanjutan)
Jumlah Tanggal/Date
(dalam juta
Rp)/ Setara
Obligasi dan sukuk/ Amount dengan US$/ Jatuh
Bonds and (in million Equivalent to Pencatatan/ tempo/
No. sharia bonds Rp) US$* Listing Maturity Keterangan/Remarks Status
14 Obligasi Berkelanjutan I Rp686,140 42,322,971 21 Agustus/ 20 Memperoleh pernyataan Belum jatuh
Merdeka Battery August 2025 Agustus/ efektif dari OJK No. S- tempo/
Materials Tahap II August 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri B/ 2028 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche II letter No. S-71/D.04/2025
Year 2025 Series B dated 30 June 2025
15 Obligasi Berkelanjutan I Rp270,510 16,685,788 21 Agustus/ 20 Memperoleh pernyataan Belum jatuh
Merdeka Battery August 2025 Agustus/ efektif dari OJK No. S- tempo/
Materials Tahap II August 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri C/ 2030 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche II letter No. S-71/D.04/2025
Year 2025 Series C dated 30 June 2025
16 Sukuk Mudharabah Rp651,680 40,197,385 21 Agustus/ 27 Memperoleh pernyataan Belum jatuh
Berkelanjutan I August 2025 Agustus/ efektif dari OJK No. S- tempo/
Merdeka Battery August 71/D.04/2025 tertanggal Outstanding
Materials Tahap II 2026 30 Juni 2025/
Tahun 2025 Seri A/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche II
Year 2025 Series A
17 Sukuk Mudharabah Rp857,625 52,900,629 21 Agustus/ 20 Memperoleh pernyataan Belum jatuh
Berkelanjutan I August 2025 Agustus/ efektif dari OJK No. S- tempo/
Merdeka Battery August 71/D.04/2025 tertanggal Outstanding
Materials Tahap II 2028 30 Juni 2025/
Tahun 2025 Seri B/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche II
Year 2025 Series B
18 Sukuk Mudharabah Rp268,570 16,566,124 21 Agustus/ 20 Memperoleh pernyataan Belum jatuh
Berkelanjutan I August 2025 Agustus/ efektif dari OJK No. S- tempo/
Merdeka Battery August 71/D.04/2025 tertanggal Outstanding
Materials Tahap II 2030 30 Juni 2025/
Tahun 2025 Seri C/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche II
Year 2025 Series C
Page 17
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/6 Exhibit E/6
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran umum efek Perusahaan b. Company’s Public Offering (Continued)
(Lanjutan)
Ringkasan penawaran umum obligasi dan The summary of bonds and sharia bonds
sukuk yang diterbitkan Perusahaan dengan offering issued by the Company with PT Bank
PT Bank Rakyat Indonesia (Persero) Tbk Rakyat Indonesia (Persero) Tbk as Trustee up to
sebagai Wali Amanat sampai dengan tanggal 31 March 2026 are as follows: (Continued)
31 Maret 2026 adalah sebagai berikut:
(Lanjutan)
Jumlah Tanggal/Date
(dalam juta
Rp)/ Setara
Obligasi dan sukuk/ Amount dengan US$/ Jatuh
Bonds and (in million Equivalent to Pencatatan/ tempo/
No. sharia bonds Rp) US$* Listing Maturity Keterangan/Remarks Status
19 Obligasi Berkelanjutan I Rp982,150 58,913,682 10 9 Memperoleh pernyataan Belum jatuh
Merdeka Battery Desember/ Desember/ efektif dari OJK No. S- tempo/
Materials Tahap III December December 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri A/ 2025 2028 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche III letter No. S-71/D.04/2025
Year 2025 Series A dated 30 June 2025
20 Obligasi Berkelanjutan I Rp1,118,800 67,110,551 10 9 Memperoleh pernyataan Belum jatuh
Merdeka Battery Desember/ Desember/ efektif dari OJK No. S- tempo/
Materials Tahap III December December 71/D.04/2025 tertanggal Outstanding
Tahun 2025 Seri B/ 2025 2030 30 Juni 2025/
Shelf Bonds I Obtained Effective
Merdeka Battery Statement from OJK in its
Materials Tranche III letter No. S-71/D.04/2025
Year 2025 Series B dated 30 June 2025
21 Sukuk Mudharabah Rp379,000 22,734,089 10 9 Memperoleh pernyataan Belum jatuh
Berkelanjutan I Desember/ Desember/ efektif dari OJK No. S- tempo/
Merdeka Battery December December 71/D.04/2025 tertanggal Outstanding
Materials Tahap III 2025 2028 30 Juni 2025/
Tahun 2025 Seri A/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche III
Year 2025 Series A
22 Sukuk Mudharabah Rp621,000 37,250,315 10 9 Memperoleh pernyataan Belum jatuh
Berkelanjutan I Desember/ Desember/ efektif dari OJK No. S- tempo/
Merdeka Battery December December 71/D.04/2025 tertanggal Outstanding
Materials Tahap III 2025 2030 30 Juni 2025/
Tahun 2025 Seri B/ Obtained Effective
Shelf Sukuk Statement from OJK in its
Mudharabah I letter No. S-71/D.04/2025
Merdeka Battery dated 30 June 2025
Materials Tranche III
Year 2025 Series B
*) Dijabarkan dengan kurs yang berlaku pada tanggal *) Translated using the exchange rate prevailing at the
pengakuan awal initial recognition date
Page 18
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/7 Exhibit E/7
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
c. Dewan Komisaris dan Direksi c. Board of Commissioners and Board of
Directors
Susunan anggota Dewan Komisaris dan Direksi The composition of the members of the Board
Perusahaan pada tanggal 31 Maret 2026 dan of Commissioners and Board of Directors of the
31 Desember 2025 adalah sebagai berikut: Company as at 31 March 2026 and 31 December
2025 are as follows:
Dewan Komisaris Board of Commissioners
Presiden Komisaris : Winato Kartono : President Commissioner
Komisaris : Michael W.P. Soeryadjaya : Commissioner
Komisaris Independen : Prof. Dr. Didi Achjari, M.Com., Ak. : Independent Commissioner
Direksi Board of Directors
Presiden Direktur : Teddy Nuryanto Oetomo : President Director
Direktur : Titien Supeno : Director
Direktur : Anthony Kartono Tan(1) : Director
(1) Telah mengajukan pengunduran diri dari jabatannya selaku (1) Has submitted resignation from position as Director of the Company,
Direktur Perusahaan yang berlaku efektif sejak diperolehnya which is effective upon obtaining approval from shareholders
persetujuan pemegang saham pada Rapat Umum Pemegang at the Company’s Annual General Meeting of Shareholders on
Saham Tahunan Perusahaan pada tanggal 23 Juni 2026. 23 June 2026.
Susunan Komite Audit Perusahaan pada The composition of the Company’s Audit
tanggal 31 Maret 2026 dan 31 Desember 2025 Committee as at 31 March 2026 and
adalah sebagai berikut: 31 December 2025 was as follows:
Ketua : Prof. Dr. Didi Achjari, M.Com., Ak. : Head
Anggota : Aria Kanaka : Member
Anggota : Selvy Monalisa : Member
Berdasarkan Surat Keputusan Direksi Based on the Decree of the Board of Directors
Perusahaan No. 001/SK-DIR/MBM/I/2023 of the Company No. 001/SK-DIR/MBM/I/2023
tertanggal 17 Januari 2023, Direksi dated 17 January 2023, the Board of Directors
Perusahaan memutuskan untuk menetapkan of the Company resolved to stipulate
pembentukan unit audit internal Perusahaan establishment of the internal audit unit of the
yang dipimpin oleh seorang kepala unit audit Company led by a head of the internal audit
internal. Efektif sejak 2 Oktober 2025, Kepala unit. Effective on 2 October 2025, the Head of
Unit Audit Internal Perusahaan telah dijabat Internal Audit Unit of the Company has been
oleh Marco Sebastian berdasarkan Surat assumed by Marco Sebastian based on Decree of
Keputusan Presiden Direktur Perusahaan the President Director of the Company
No. 063/MBMA-JKT/CORSEC/X/2025 tentang No. 063/MBMA-JKT/CORSEC/X/2025 regarding
Penunjukan Kepala Unit Audit Internal dan the Appointment of the Head of the Internal
Surat Keputusan Sirkuler Pengganti Rapat Audit Unit and the Circular Resolution in Lieu
Dewan Komisaris Perusahaan tanggal of Meeting of the Board of Commissioners
2 Oktober 2025. dated 2 October 2025.
Berdasarkan Keputusan Sirkuler Pengganti Based on Circular Resolutions in Lieu of Meeting
Rapat Direksi Perusahaan tertanggal 28 Maret of the Board of Directors of the Company dated
2025, Direksi Perusahaan memutuskan 28 March 2025, Board of Directors of the
memberhentikan Deny Greviartana Wijaya Company has decided to dismiss Deny
sebagai Sekretaris Perusahaan dan Greviartana Wijaya as the Corporate Secretary
mengangkat Teddy Nuryanto Oetomo sebagai and appoint Teddy Nuryanto Oetomo as
Sekretaris Perusahaan terhitung efektif sejak Corporate Secretary since the effective date of
tanggal efektif keputusan tersebut. such resolution.
Personel manajemen kunci Perusahaan dan Key management personnel of the Company and
entitas anaknya (“Grup”) adalah anggota its subsidiaries (the “Group”) are members of
Dewan Komisaris dan Direksi. the Board of Commissioners and Board of
Directors.
Pada tanggal 31 Maret 2026, Grup memiliki As at 31 March 2026, the Group has a total of
total 3.916 karyawan tetap (tidak diaudit) 3,916 permanent employees (unaudited)
(31 Desember 2025: 3.903 karyawan tetap (31 December 2025: 3,903 permanent employees
(tidak diaudit)). (unaudited)).
Page 19
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/8 Exhibit E/8
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
d. Struktur Grup d. Group structure
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, struktur Grup adalah sebagai berikut: structure of the Group was as follows:
Jumlah aset (sebelum
Persentase kepemilikan efektif Perusahaan/ Mulai eliminasi)/
Effective percentage of ownership of the beroperasi Total assets (before
Company komersial/ elimination)
31 Maret/ 31 Desember/ Start of 31 Desember/
Entitas anak/ Domisili/ Jenis usaha/ March December commercial 31 Maret/ December
Subsidiaries Domicile Nature of business 2026 2025 operations March 2026 2025
Kepemilikan langsung/Direct ownership:
PT Merdeka Industri Mineral (“MIN”) a) Indonesia Aktivitas perusahaan 99.99% 99.99% - 1,677,940,250 1,600,300,645
holding/Holding
company activities
PT Merdeka Energi Industri (“MED”) a) Indonesia Aktivitas perusahaan 100.00% 100.00% - 22,032,444 22,266,552
holding/Holding
company activities
PT Batutua Pelita Investama (“BPI”) a) Indonesia Aktivitas perusahaan 100.00% 100.00% - 1,087,222,593 1,150,787,740
holding/Holding
company activities
PT Merdeka Mega Industri (“MMI”) a) Indonesia Aktivitas perusahaan 100.00% 100.00% - 205,247,473 170,478,088
holding dan
aktivitas konsultasi
manajemen
lainnya/Holding
company activities
and other
management
consulting activities
PT Merdeka Energi Utama (“MEU”) Indonesia Aktivitas perusahaan 100.00% 100.00% - 21,764,347 22,367,469
holding dan
aktivitas konsultasi
manajemen
lainnya/Holding
company activities
and other
management
consulting activities
Kepemilikan tidak langsung melalui MMI/Indirect ownership through MMI:
PT Huaneng Metal Industry (“HNMI”) Indonesia Industri pembuatan 60.00% 60.00% 2022 205,229,721 170,460,392
logam dasar bukan
besi/Manufacture
of non-ferrous basic
metal
Page 20
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/9 Exhibit E/9
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
d. Struktur Grup (Lanjutan) d. Group structure (Continued)
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, struktur Grup adalah sebagai berikut: structure of the Group was as follows:
(Lanjutan) (Continued)
Jumlah aset (sebelum
Persentase kepemilikan efektif Perusahaan/ Mulai eliminasi)/
Effective percentage of ownership of the beroperasi Total assets (before
Company komersial/ elimination)
31 Maret/ 31 Desember/ Start of 31 Desember/
Entitas anak/ Domisili/ Jenis usaha/ March December commercial 31 Maret/ December
Subsidiaries Domicile Nature of business 2026 2025 operations March 2026 2025
Kepemilikan tidak langsung melalui MIN/Indirect ownership through MIN:
PT Bukit Smelter Indonesia (“BSI”) Indonesia Industri pembuatan 50.10% 50.10% 2020 221,499,433 208,732,447
logam dasar bukan
besi/Manufacture
of non-ferrous basic
metals
PT Cahaya Smelter Indonesia (“CSI”) Indonesia Industri pembuatan 50.10% 50.10% 2020 200,284,129 209,761,217
logam dasar bukan
besi/Manufacture
of non-ferrous basic
metals
PT Sulawesi Cahaya Mineral (“SCM”) a) Indonesia Pertambangan bijih 51.00% 51.00% 2023 707,120,525 641,614,734
nikel/Nickel ore
mining
PT Zhao Hui Nickel (“ZHN”) Indonesia Industri pembuatan 50.10% 50.10% 2023 546,429,700 566,240,512
logam dasar bukan
besi/Manufacture of
non-ferrous base
metal
Kepemilikan tidak langsung melalui SCM dan MIN/Indirect ownership through SCM and MIN:
PT Sulawesi Makmur Indonesia (“SMI”) Indonesia Industri pembuatan 51.05% 51.05% - 35,681 37,012
logam dasar bukan
besi; industri kapur;
penggalian batu
kapur/ gamping;
aktivitas penunjang
pertambangan dan
penggalian lainnya/
Manufacture of
non-ferrous basic
metals; lime
industry; limestone
quarrying; support
activities for other
mining and
quarrying
Kepemilikan tidak langsung melalui MED dan MIN/Indirect ownership through MED and MIN:
PT Lestari Nusa Jaya Semesta (“LNJ”) Indonesia Pengumpulan limbah 100.00% 100.00% - 1,071,312 1,555,483
berbahaya/
Collection of
hazardous waste
PT Indogreen Cahaya Surya (“ICS”) Indonesia Pembangkitan tenaga 100.00% 100.00% - 99,975 99,947
listrik/Electric
power plant
PT Kapur Maxima Gemilang (“KMG”) Indonesia Industri kapur; 100.00% 100.00% - 58,289 58,267
penggalian batu
kapur/gamping/
Limestone industry;
limestone quarrying
Page 21
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/10 Exhibit E/10
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
d. Struktur Grup (Lanjutan) d. Group structure (Continued)
Pada tanggal 31 Maret 2026 dan 31 December As at 31 March 2026 and 31 December 2025, the
2025, struktur Grup adalah sebagai berikut: structure of the Group was as follows:
(Lanjutan) (Continued)
Jumlah aset (sebelum
Persentase kepemilikan efektif Perusahaan/ Mulai eliminasi)/
Effective percentage of ownership of the beroperasi Total assets (before
Company komersial/ elimination)
31 Maret/ 31 Desember/ Start of 31 Maret/ 31 Desember/
Entitas anak/ Domisili/ Jenis usaha/ March December commercial March December
Subsidiaries Domicile Nature of business 2026 2025 operations 2026 2025
Kepemilikan tidak langsung melalui MED dan MIN/Indirect ownership through MED and MIN: (Lanjutan/Continued)
PT Konawe Cahaya Indonesia (“KCI”) Indonesia Pembangkit, transmisi, 100.00% 100.00% - 152,254 8,444
distribusi dan
penjualan tenaga
listrik dalam satu
kesatuan
usaha/Generation,
transmission,
distribution and sales
of electricity in one
business unit
PT Sulawesi Batu Kapur (“SBK”) Indonesia Industri kapur; 100.00% 100.00% - 10,414 10,399
penggalian batu
kapur/gamping/
Limestone industry;
limestone quarrying
PT Cahaya Kapur Alfa (“CKA”) Indonesia Industri kapur; 100.00% 100.00% - 4,167 4,153
penggalian batu
kapur/gamping/
Limestone industry;
limestone quarrying
PT Cahaya Sulawesi Kekal (“CSK”) Indonesia Industri kapur; 100.00% 100.00% - 9,021 9,006
penggalian batu
kapur/gamping;
penggalian
kerikil/sirtu/
Limestone industry;
limestone quarrying;
gravel quarrying
PT Sulawesi Anugerah Kekal (“SAK”) Indonesia Industri kapur; 100.00% 100.00% - 9,436 9,422
penggalian batu
kapur/gamping;
penggalian
kerikil/sirtu/
Limestone industry;
limestone quarrying;
gravel quarrying
PT Lestari Jaya Kekal (“LJK”) Indonesia Industri kapur; 100.00% 100.00% - 9,541 9,526
penggalian batu
kapur/gamping;
penggalian
kerikil/sirtu/
Limestone industry;
limestone quarrying;
gravel quarrying
PT Indonesia Cahaya Kekal Sulawesi (“ICKS”) Indonesia Industri kapur; 100.00% 100.00% - 11,214 11,199
penggalian batu
kapur/gamping;
penggalian
kerikil/sirtu/
Limestone industry;
limestone quarrying;
gravel quarrying
PT Anugerah Batu Putih (“ABP”) Indonesia Penggalian batu 100.00% 100.00% - 139,851 670,972
kapur/gamping/
Limestone quarrying
Page 22
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/11 Exhibit E/11
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
d. Struktur Grup (Lanjutan) d. Group structure (Continued)
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, struktur Grup adalah sebagai berikut: structure of the Group was as follows:
(Lanjutan) (Continued)
Jumlah aset (sebelum
Persentase kepemilikan efektif Perusahaan/ Mulai eliminasi)/
Effective percentage of ownership of the beroperasi Total assets (before
Company komersial/ elimination)
31 Maret/ 31 Desember/ Start of 31 Desember/
Entitas anak/ Domisili/ Jenis usaha/ March December commercial 31 Maret/ December
Subsidiaries Domicile Nature of business 2026 2025 operations March 2026 2025
Kepemilikan tidak langsung melalui MIN dan MED/Indirect ownership through MIN and MED:
PT Sulawesi Industri Parama Indonesia Industri pembuatan 100.00% 100.00% - 4,648 4,640
(“SIP”) logam dasar bukan
besi/Manufacture of
non-ferrous basic
metal
Kepemilikan tidak langsung melalui MED/Indirect ownership through MED:
PT Cahaya Hutan Lestari Indonesia Aktivitas 51.00% 51.00% - 502,247 746,046
(“CHL”) a) telekomunikasi
khusus untuk
keperluan sendiri;
perdagangan besar
hasil kehutanan dan
perburuan/Special
telecommunications
activities for own
purposes, wholesale
trade of forestry and
hunting commodities
Kepemilikan tidak langsung melalui CHL dan MED/Indirect ownership through CHL and MED:
PT Ciptawana Lestari Mandiri (“CLM”) Indonesia Perkebunan buah 51.05% 51.05% - 463,926 529,854
kelapa sawit,
kawasan industri/
Palm oil plantation,
industrial park
Kepemilikan tidak langsung melalui BPI/Indirect ownership through BPI:
PT Merdeka Tsingshan Indonesia (“MTI”) Indonesia Kegiatan industri/ 80.00% 80.00% - 1,069,020,645 1,057,099,273
Industry activities
a)
dan entitas anak/and subsidiaries
Page 23
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/12 Exhibit E/12
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
e. Izin Usaha e. Business Licenses
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, Grup memiliki wilayah operasi produksi Group has production operation areas covered
yang tercakup dalam beberapa Izin Usaha by several Mining Business Licenses (“IUP”) and
Pertambangan (“IUP”) dan Izin Usaha Industri Industrial Business Licenses (“IUI”), the details
(“IUI”), rincian masing-masing IUP dan IUI of each of the IUP and IUI are as follows:
sebagai berikut:
Lokasi/ Izin Usaha/ Wilayah (tidak diaudit)/
Location Business Licenses Area (unaudited)
IUP
SCM
Kecamatan Routa, Izin Usaha Pertambangan Operasi Produksi yang diperoleh berdasarkan Keputusan Provinsi Sulawesi Tenggara/
Kabupaten Konawe/ Kepala Badan Koordinasi Penanaman Modal No. 67/I/IUP/PMA/2019 tanggal Southeast Sulawesi Province
Routa Disctrict, 18 November 2019 tentang Persetujuan Penyesuaian Izin Usaha Pertambangan
Konawe Regency Operasi Produksi Mineral Logam Dalam Rangka Penanaman Modal Asing Komoditas
Nikel Kepada SCM Seluas 21.100 Ha di Kecamatan Routa, Kabupaten Konawe, Provinsi
Sulawesi Tenggara dan berlaku sampai dengan 14 September 2037.
Production Operation Mining Business License obtained pursuant to the Decree of
the Head of the Investment Coordinating Board No. 67/I/IUP/PMA/2019 dated
18 November 2019 regarding the Approval for the Adjustment of the Mining Business
License for Production Operation of Minerals for the Foreign Investment of Nickel
Commodity to SCM for an area of 21,100 Ha in Routa District, Konawe Regency,
Southeast Sulawesi Province and is valid until 14 September 2037.
ABP
Kecamatan Bahodopi, Izin Usaha Pertambangan Operasi Produksi yang diperoleh berdasarkan Keputusan Provinsi Sulawesi Tengah/
Kabupaten Morowali/ Gubernur Sulawesi Tengah No. 540/609/IUP-OP/DPMPTSP/2020 Tentang Persetujuan Central Sulawesi Province
Bahodopi Disctrict, Peningkatan Izin Usaha Pertambangan Eksplorasi Batuan Menjadi Izin Usaha
Morowali Regency Pertambangan Operasi Produksi Batuan yang terbit pada 10 Desember 2020,
sebagaimana telah memperoleh perpanjangan berdasarkan Perpanjangan Izin Usaha
Pertambangan Tahap Operasi Produksi No. 91202074231080006 pada tanggal 31 Juli
2025 yang dikeluarkan oleh Kepala DPMPTSP Provinsi Sulawesi Tengah atas nama
Gubernur Sulawesi Tengah melalui Sistem Online Single Submission (“OSS”), dan
berlaku selama 5 tahun hingga 31 Juli 2030.
Production Operation Mining Business License obtained pursuant to the Decree of
Governor of Central Sulawesi No. 540/609/IUP-OP/DPMPTSP/2020 regarding the
Approval of Advancement of Rock Exploration Mining Business Licenses into Rock
Production Operation Mining Business Licenses issued on 10 December 2020, which
has been extended pursuant to the Extension of the Production Operation Stage
Mining Business License No. 91202074231080006 dated 31 July 2025 issued by Head
of DPMPTSP Central Sulawesi Province on behalf of the Governor of Central Sulawesi
through Online Single Submission (“OSS”) system, and which is valid for 5 years until
31 July 2030.
Page 24
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/13 Exhibit E/13
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
e. Izin Usaha (Lanjutan) e. Business Licenses (Continued)
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, Grup memiliki wilayah operasi produksi Group has production operation areas covered
yang tercakup dalam beberapa Izin Usaha by several Mining Business Licenses (“IUP”) and
Pertambangan (“IUP”) dan Izin Usaha Industri Industrial Business Licenses (“IUI”), the details
(“IUI”), rincian masing-masing IUP dan IUI of each of the IUP and IUI are as follows:
sebagai berikut: (Lanjutan) (Continued)
Lokasi/ Izin Usaha/ Wilayah (tidak diaudit)/
Location Business Licenses Area (unaudited)
IUI
CSI
Kecamatan Bahodopi, IUI tanggal 9 Januari 2019, yang dikeluarkan oleh Lembaga OSS. Provinsi Sulawesi Tengah/
Kabupaten Morowali/ Central Sulawesi Province
Bahodopi Disctrict, IUI dated 9 January 2019, issued by OSS Institute.
Morowali Regency
BSI
Kecamatan Bahodopi, IUI tanggal 13 Maret 2019, dengan perubahan ke-2 tanggal 19 Februari 2020 yang Provinsi Sulawesi Tengah/
Kabupaten Morowali/ dikeluarkan oleh Lembaga OSS. Central Sulawesi Province
Bahodopi Disctrict,
Morowali Regency IUI dated 13 March 2019 and the second amendment on 19 February 2020, issued by
OSS Institute.
ZHN
Kecamatan Bahodopi, IUI berdasarkan Perizinan Berusaha Berbasis Risiko No. 12560005012980002 tanggal Provinsi Sulawesi Tengah/
Kabupaten Morowali/ 16 Oktober 2023, yang dikeluarkan oleh Menteri Investasi/Kepala Badan Koordinasi Central Sulawesi Province
Bahodopi Disctrict, Penanaman Modal atas nama Menteri Perindustrian melalui sistem OSS dan telah
Morowali Regency memenuhi persyaratan.
IUI based on Risk-Based Business Licensing No. 12560005012980002 dated 16 October
2023, which was issued by the Minister of Investment/Head of Investment
Coordinating Board on behalf of the Minister of Industry through OSS system and has
fulfilled the requirements.
HNMI
Kecamatan Bahodopi, IUI berdasarkan Perizinan Berusaha Berbasis Risiko No. 12210001226010001 tanggal Provinsi Sulawesi Tengah/
Kabupaten Morowali/ 17 September 2021, yang dikeluarkan oleh Menteri Investasi/Kepala Badan Koordinasi Central Sulawesi Province
Bahodopi Disctrict, Penanaman Modal atas nama Menteri Perindustrian dan telah memenuhi persyaratan.
Morowali Regency
IUI based on Risk-Based Business Licensing No. 12210001226010001 dated
17 September 2021, issued by Minister of Investment/Head of Investment
Coordinating Board on behalf of the Minister of Industry and has fulfilled the
requirements.
MTI
Kecamatan Bahodopi, Perizinan Berusaha Berbasis Risiko dengan NIB No. 1207000311293 yang diterbitkan Provinsi Sulawesi Tengah/
Kabupaten Morowali/ oleh Menteri Investasi/Kepala Badan Koordinasi Penanaman Modal pada tanggal Central Sulawesi Province
Bahodopi District, 19 Maret 2021, sebagaimana perubahan terakhir tanggal 15 Desember 2025. IUI
Morowali Regency berdasarkan Perizinan Berusaha Berbasis Risiko No. 12070003112930025 tanggal
18 Desember 2025 untuk KBLI 24101 (Industri Besi dan Baja Dasar) yang diterbitkan
oleh Menteri Investasi dan Hilirisasi/Kepala Badan Koordinasi Penanaman Modal untuk
dan atas nama Menteri Perindustrian melalui sistem OSS dan telah memenuhi
persyaratan.
Risk-Based Business Licensing with NIB No. 1207000311293 issued by the Minister of
Investment/Head of Investment Coordinating Board dated 19 March 2021, as lastly
amended on 15 December 2025. IUI based on Risk Based Business Licensing
No. 12070003112930025 for KBLI 24101 (Iron and Steel Making Industry) issued by the
Minister of Investment and Downstream/Head of the Investment Coordinating Board
for and on behalf of Minister of Industry through OSS System and has fulfilled the
requirements.
Page 25
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/14 Exhibit E/14
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
a. Dasar penyusunan dan penyajian laporan a. Basis of preparation and presentation of the
keuangan konsolidasian interim dan interim consolidated financial statements
pernyataan kepatuhan and statements of compliance
Laporan keuangan konsolidasian interim telah The interim consolidated financial statements
disusun dan disajikan sesuai dengan: i) have been prepared and presented in
Standar Akuntansi Keuangan di Indonesia accordance with: i) Indonesian Financial
(“SAK”), yang mencakup Pernyataan (“PSAK”) Accounting Standards (“FAS”), which includes
dan Interpretasi (“ISAK”) yang dikeluarkan the Statements (“SFAS”) and Interpretations
oleh Dewan Standar Akuntansi Keuangan (“IFAS”) issued by the Financial Accounting
Ikatan Akuntan Indonesia; dan ii) Peraturan Standards Board of Indonesian Institute of
No. VIII.G.7 tentang Penyajian dan Accountants; and ii) Regulation No. VIII.G.7
Pengungkapan Laporan Keuangan Emiten atau regarding the Presentation and Disclosures of
Perusahaan Publik. Financial Statements of Listed Entity.
Penyusunan laporan keuangan konsolidasian The preparation of interim consolidated
interim berdasarkan SAK memerlukan financial statements in conformity with
penggunaan estimasi akuntansi penting Indonesian FAS requires the use of certain
tertentu. Penyusunan laporan keuangan critical accounting estimates. It also requires
konsolidasian interim juga mengharuskan management to exercise its judgement in the
manajemen untuk membuat pertimbangan process of applying the Group’s accounting
dalam proses penerapan kebijakan akuntansi policies. The areas involving a higher degree of
Grup. Area-area yang memerlukan tingkat judgement or complexity, or areas where
pertimbangan yang lebih tinggi atau assumptions and estimates are significant to the
kompleks, atau area dimana asumsi dan interim consolidated financial statements are
estimasi yang berdampak signifikan terhadap disclosed in Note 3.
laporan keuangan konsolidasian interim
diungkapkan dalam Catatan 3.
Laporan keuangan konsolidasian interim The interim consolidated financial statements
disusun berdasarkan dasar akrual, kecuali are prepared on the accrual basis, except for
laporan arus kas konsolidasian interim, dan the interim consolidated statements of cash
dengan menggunakan konsep biaya historis, flows, and using the historical cost concept of
kecuali untuk yang telah diungkapkan di accounting, except as disclosed in the relevant
dalam catatan atas laporan keuangan notes to the interim consolidated financial
konsolidasian interim yang relevan. statements herein.
Laporan arus kas konsolidasian interim The interim consolidated statements of cash
menyajikan penerimaan dan pengeluaran kas flows present the receipts and payments of cash
dan bank yang diklasifikasikan menurut and cash in banks classified into operating,
aktivitas operasi, investasi dan pendanaan. investing and financing activities. The interim
Laporan arus kas konsolidasian interim consolidated statements of cash flows are
disajikan dengan menggunakan metode presented using the direct method.
langsung.
Seluruh angka dalam laporan keuangan All figures in the interim consolidated financial
konsolidasian interim ini disajikan dalam statements are expressed in United States
Dolar Amerika Serikat (“Dolar AS” atau “US$”) Dollars (“US Dollars” or “US$”), which is the
yang merupakan mata uang fungsional Company’s functional currency and the Group’s
Perusahaan dan mata uang penyajian Grup. presentation currency.
Kebijakan prinsip akuntansi yang diadopsi The principal accounting policies adopted in the
dalam penyusunan laporan keuangan preparation of the interim consolidated
konsolidasian interim diatur di bawah. financial statements are set out below. The
Kebijakan ini diterapkan secara konsisten policies have been consistently applied to all
dengan semua periode penyajian, kecuali the periods presented, unless otherwise stated.
dinyatakan lain.
Page 26
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/15 Exhibit E/15
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
b. Perubahan kebijakan akuntansi b. Changes in accounting policies
Kebijakan akuntansi yang diadopsi adalah Accounting policies adopted are consistent with
konsisten dengan kebijakan akuntansi periode those of the previous financial periods, except
keuangan sebelumnya, kecuali bagi for the adoption of the new and revised SFAS
pengadopsian PSAK dan ISAK baru dan revisian and IFAS that became effective on or after
yang berlaku efektif pada atau setelah 1 January 2026. Changes to the Group’s
tanggal 1 Januari 2026. Perubahan kebijakan accounting policies have been made as required,
akuntansi Grup, dibuat sebagaimana in accordance with the relevant transitional
disyaratkan sesuai dengan ketentuan transisi provisions in the respective SFAS and IFAS.
yang relevan terkait dengan PSAK dan ISAK
tersebut.
Penerapan dari standar baru dan amendemen The adoption of the following new standard and
terhadap standar akuntansi yang telah amendments to accounting standards issued and
diterbitkan dan yang berlaku efektif untuk effective for the financial period beginning
periode buku yang dimulai pada atau setelah 1 January 2026 which do not have a material
1 Januari 2026 namun tidak berdampak impact on the interim consolidated financial
material terhadap laporan keuangan statements is as follows:
konsolidasian interim adalah sebagai berikut:
• PSAK No. 338, “Kombinasi Bisnis Entitas • • SFAS No. 338, “Business Combinations of
Sepengendali” Entities under Common Control”
• Amendemen PSAK No. 109, “Instrumen • Amendments to SFAS No. 109, “Financial
Keuangan” dan PSAK No. 107, Instruments” and SFAS No. 107, “Financial
“Instrumen Keuangan: Pengungkapan” Instruments: Disclosures” regarding
tentang Klasifikasi dan Pengukuran Classification and Measurement of
Instrumen Keuangan Financial Instruments
• Amandemen PSAK No. 109, “Instrumen • • Amendments to SFAS No. 109, “Financial
Keuangan” dan PSAK No. 107, Instruments” and SFAS No. 107, “Financial
“Instrumen Keuangan: Pengungkapan” Instruments: Disclosures” about Contracts
tentang kontrak yang mengacu pada Referencing Nature-Dependent Electricity
Listrik Bergantung Alam
•
Standar akuntansi baru yang telah New accounting standard issued but not yet
diterbitkan, namun belum berlaku efektif effective for the financial period beginning
untuk periode buku yang dimulai pada 1 January 2026 is as follows:
1 Januari 2026 adalah sebagai berikut:
• PSAK No. 118, “Penyajian dan • • SFAS No. 118, “Presentation and Disclosure
Pengungkapan dalam Laporan Keuangan” in Financial Statements”
•
Standar di atas berlaku efektif mulai The above standard is effective beginning
1 Januari 2027. Penerapan retrospektif 1 January 2027. Retrospective application is
diwajibkan, sehingga informasi komparatif required, and so the comparative information
untuk tahun keuangan yang berakhir pada for the financial year ending 31 December 2026
tanggal 31 Desember 2026 akan disajikan will be restated in accordance with this
ulang sesuai dengan standar ini. standard.
Pada tanggal penyelesaian laporan keuangan As at the completion date of these interim
konsolidasian interim ini, Grup sedang consolidated financial statements, the Group is
mempelajari dampak yang mungkin timbul evaluating the potential impact of the new
dari penerapan standar baru pada laporan standard on the Group’s interim consolidated
keuangan konsolidasian interim Grup. financial statements.
•
Page 27
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/16 Exhibit E/16
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas
Grup menerapkan PSAK No. 110, “Laporan The Group adopted SFAS No. 110, “Consolidated
Keuangan Konsolidasian”, kecuali beberapa Financial Statements”, except for the following
hal berikut yang diterapkan secara items that were applied prospectively:
prospektif:
(i) Rugi entitas anak yang menyebabkan (i) Losses of a subsidiary that result in a
saldo defisit bagi kepentingan non- deficit balance to non-controlling
pengendali (“KNP”); interests (“NCI”);
(ii) Kehilangan pengendalian pada entitas (ii) Loss of control over a subsidiary;
anak;
(iii) Perubahan kepemilikan pada entitas (iii) Change in the ownership interest in a
anak yang tidak mengakibatkan subsidiary that does not result in a loss of
hilangnya pengendalian; control;
(iv) Hak suara potensial dalam menentukan (iv) Potential voting rights in determining the
keberadaan pengendalian; dan existence of control; and
(v) Konsolidasi atas entitas anak yang (v) Consolidation of a subsidiary that is
memiliki pembatasan jangka panjang. subject to long-term restriction.
PSAK No. 110 mengatur penyusunan dan SFAS No. 110 provides for the preparation and
penyajian laporan keuangan konsolidasian presentation of interim consolidated financial
interim untuk sekelompok entitas yang statements for a group of entities under the
berada dalam pengendalian suatu entitas control of a parent, and the accounting for
induk, dan akuntansi untuk investasi pada investments in subsidiaries, jointly controlled
entitas anak, pengendalian bersama entitas entities and associated entities when separate
dan entitas asosiasi ketika laporan keuangan financial statements are presented as
tersendiri disajikan sebagai informasi additional information.
tambahan.
Laporan keuangan konsolidasian interim The interim consolidated financial statements
meliputi laporan keuangan Perusahaan dan include the accounts of the Company and its
entitas anaknya seperti yang disebutkan pada subsidiaries mentioned in Note 1d, in which the
Catatan 1d, yang dimiliki oleh Perusahaan Company maintains (directly or indirectly)
(secara langsung atau tidak langsung) dengan equity ownership of more than 50% and is
kepemilikan saham lebih dari 50% dan controlled by the Company.
dikendalikan oleh Perusahaan.
Seluruh transaksi material dan saldo akun All material intercompany transactions and
antar perusahaan (termasuk laba atau rugi account balances (including the related
yang signifikan yang belum direalisasi) telah significant unrealized gains or losses) have been
dieliminasi. eliminated.
Page 28
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/17 Exhibit E/17
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Entitas anak dikonsolidasi secara penuh sejak Subsidiaries are fully consolidated from the
tanggal akuisisi, yaitu tanggal Grup date of acquisitions, being the date on which
memperoleh pengendalian sampai dengan the Group obtains control and continue to be
tanggal Grup kehilangan pengendalian. consolidated until the date such control ceases.
Kerugian entitas anak yang tidak dimiliki Losses of a non-wholly owned subsidiary are
secara penuh diatribusikan pada KNP bahkan attributed to the NCI even if that results in a
jika hal ini mengakibatkan KNP mempunyai deficit balance. In case of loss of control over a
saldo defisit. Jika kehilangan pengendalian subsidiary, the Group:
atas suatu entitas anak, maka Grup:
• Menghentikan pengakuan aset (termasuk • Derecognizes the assets (including
goodwill) dan liabilitas entitas anak; goodwill) and liabilities of the subsidiaries;
• Menghentikan pengakuan jumlah • Derecognizes the carrying amount of any
tercatat setiap KNP; NCI;
• Menghentikan pengakuan akumulasi • Derecognizes the cumulative translation
selisih penjabaran, yang dicatat di differences, recorded in equity, if any;
ekuitas, bila ada;
• Mengakui nilai wajar pembayaran yang • Recognizes the fair value of the
diterima; consideration received;
• Mengakui setiap sisa investasi pada nilai • Recognizes the fair value of any investment
wajarnya; retained;
• Mengakui setiap perbedaan yang • Recognizes any surplus or deficit in profit
dihasilkan sebagai keuntungan atau or loss; and
kerugian dalam laba rugi; dan
• Mereklasifikasi bagian induk atas • Reclassifies the parent’s share of
komponen yang sebelumnya diakui components previously recognized in other
sebagai penghasilan komprehensif lain ke comprehensive income to profit or loss or
laba rugi, atau mengalihkan secara retained earnings, as appropriate.
langsung ke saldo laba, sebagaimana
mestinya.
KNP mencerminkan bagian atas laba atau rugi NCI represent the portion of the profit or loss
dan aset neto dari entitas anak yang tidak and net assets of the subsidiaries not
dapat diatribusikan secara langsung maupun attributable, directly or indirectly, to the
tidak langsung pada entitas induk, yang parent entity, which are presented in the
masing-masing disajikan dalam laporan laba interim consolidated statements of profit or
rugi dan penghasilan komprehensif lain loss and other comprehensive income and under
konsolidasian interim dan dalam ekuitas pada the equity section of the interim consolidated
laporan posisi keuangan konsolidasian statements of financial position, respectively,
interim, terpisah dari bagian yang dapat separately from the corresponding portion
diatribusikan kepada pemilik entitas induk. attributable to the equity holders of the parent
entity.
Page 29
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/18 Exhibit E/18
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Perubahan dalam bagian kepemilikan Grup Changes in the Group’s ownership interest in a
pada suatu entitas anak yang tidak subsidiary that do not result in loss of control
mengakibatkan hilangnya pengendalian are accounted for as equity transactions. The
dicatat sebagai transaksi ekuitas. Nilai carrying amounts of the Group and non-
tercatat kepentingan Grup dan non- controlling interests are adjusted to reflect the
pengendali disesuaikan untuk mencerminkan changes in their relative interests in the
perubahan bagian kepemilikannya atas subsidiary. Any differences between the amount
entitas anak. Setiap perbedaan antara jumlah by which the NCI are adjusted and the fair value
KNP disesuaikan dan nilai wajar imbalan yang of consideration paid or received is recognized
diberikan atau diterima diakui secara directly in equity and attributed to the owners
langsung dalam ekuitas dan diatribusikan of the parent entity.
pada pemilik entitas induk.
Kombinasi bisnis Business combinations
Grup menerapkan metode akuisisi untuk The Group applies the acquisition method to
mencatat setiap kombinasi bisnis. Imbalan account for business combinations. The
yang dialihkan untuk mengakuisisi entitas consideration transferred for the acquisition of
anak adalah nilai wajar seluruh aset yang a subsidiary is the fair value of the assets
dialihkan, liabilitas yang diakui oleh pihak transferred, the liabilities incurred to the
pengakuisisi kepada pemilik sebelumnya dari former owners of the acquiree and the equity
entitas yang diakuisisi dan kepentingan interests issued by the Group.
ekuitas yang diterbitkan oleh Grup.
Imbalan yang dialihkan termasuk nilai wajar The consideration transferred includes the fair
setiap aset dan liabilitas yang dihasilkan dari value of any asset or liability resulting from a
suatu kesepakatan imbalan kontinjensi. Aset contingent consideration arrangement.
teridentifikasi, liabilitas dan liabilitas Identifiable assets acquired, liabilities and
kontinjensi yang diambil alih, yang diperoleh contingent liabilities assumed in a business
dalam kombinasi bisnis diukur pada awalnya combination are measured initially at their fair
sebesar nilai wajar pada tanggal akuisisi. values as at the acquisition date.
Grup mengakui kepentingan non-pengendali The Group recognizes any non-controlling
pada pihak yang diakuisisi baik sebesar nilai interest in the acquiree on an acquisition-by-
wajar atau sebesar bagian proporsional acquisition basis, either at fair value or at the
kepentingan non-pengendali atas aset neto non-controlling interest’s proportionate share
teridentifikasi pihak yang diakuisisi. of the acquiree’s identifiable net assets. Non-
Kepentingan non-pengendali disajikan di controlling interests are reported as equity in
ekuitas dalam laporan posisi keuangan the interim consolidated statements of
konsolidasian interim, terpisah dari ekuitas financial position, separate from the owners of
pemilik entitas induk. the parent entity.
Biaya terkait akuisisi dibebankan pada saat Acquisition-related costs are expensed as
terjadinya. incurred.
Page 30
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/19 Exhibit E/19
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Kombinasi bisnis (Lanjutan) Business combinations (Continued)
Jika kombinasi bisnis diperoleh secara If the business combination is achieved in
bertahap, Grup akan mengukur kepentingan stages, the Group will remeasure its previously
ekuitas yang sebelumnya dimiliki pada pihak held equity interest in the acquiree at its fair
yang diakuisisi sebesar nilai wajar pada value at its acquisition date and recognize the
tanggal akuisisi dan mengakui keuntungan resulting gain or loss, if any, in profit or loss.
atau kerugian yang dihasilkan, jika ada, Any contingent consideration to be transferred
dalam laba rugi. Imbalan kontinjensi yang by the Group is recognized at its fair value as at
masih harus dialihkan oleh Grup diakui the acquisition date. Subsequent changes to the
sebesar nilai wajar pada tanggal akuisisi. fair value of the contingent consideration that
Perubahan selanjutnya atas nilai wajar is deemed to be an asset or a liability are
imbalan kontinjensi yang diakui sebagai aset recognized in profit or loss. A contingent
atau liabilitas dan dicatat dalam laba rugi. consideration that is classified as equity is not
Imbalan kontinjensi yang diklasifikasikan remeasured, and its subsequent settlement is
sebagai ekuitas tidak diukur kembali dan accounted for within equity.
penyelesaian selanjutnya diperhitungkan
dalam ekuitas.
Selisih lebih antara imbalan yang dialihkan, The excess of the consideration transferred, the
jumlah setiap kepentingan non-pengendali amount of any non-controlling interest in the
dalam pihak yang diakuisisi, dan nilai wajar acquiree and the acquisition-date fair value of
pada tanggal akuisisi dari kepemilikan ekuitas any previous equity interest in the acquiree
yang sebelumnya dimiliki oleh pihak over the fair value of the Group’s share of the
pengakuisisi pada pihak yang diakuisisi, identifiable net assets acquired is recorded as
dibandingkan dengan nilai wajar bagian Grup goodwill. If those amounts are less than the fair
atas aset bersih teridentifikasi yang value of the net identifiable assets of the
diakuisisi, dicatat sebagai goodwill. Jika subsidiary acquired and the measurement of all
jumlah tersebut lebih kecil dari nilai wajar amounts has been reviewed, in the case of a
atas aset bersih teridentifikasi entitas anak bargain purchase, the difference is recognized
yang diakuisisi dan pengukuran atas seluruh directly in profit or loss.
jumlah tersebut telah ditelaah, dalam hal
pembelian dengan diskon, selisih tersebut
diakui secara langsung dalam laba rugi.
Entitas anak Subsidiaries
Entitas anak merupakan semua entitas Subsidiaries are all entities (including
(termasuk entitas bertujuan khusus), dimana structured entities), over which the Group has
Grup memiliki pengendalian. Grup control. The Group controls an entity when the
mengendalikan suatu entitas ketika Grup Group is exposed to, or has rights to, variable
memiliki hak atas imbal hasil variabel dari returns from its involvement with the entity
keterlibatannya dengan suatu entitas dan and has the ability to affect those returns
memiliki kemampuan untuk mempengaruhi through its power over the entity.
imbal hasil tersebut melalui kekuasaannya
atas entitas tersebut.
Laporan keuangan konsolidasian interim The interim consolidated financial statements
menyajikan hasil usaha Grup seolah-olah present the results of the Group as if they
sebagai perusahaan tunggal. formed a single entity.
Page 31
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/20 Exhibit E/20
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Entitas anak (Lanjutan) Subsidiaries (Continued)
Laporan keuangan entitas anak termasuk ke The financial statements of subsidiaries are
dalam laporan keuangan konsolidasian included in the interim consolidated financial
interim sejak tanggal pengendalian dimulai statements from the date that control
sampai dengan tanggal pengendalian commences until the date that control ceases.
dihentikan. Kebijakan akuntansi entitas anak The accounting policies of subsidiaries have
diubah apabila dipandang perlu untuk been changed when necessary to align them
menyelaraskan kebijakan akuntansi yang with the policies adopted by the Group.
diadopsi oleh Grup.
Kerugian yang terjadi pada kepentingan non- Losses applicable to non-controlling interests in
pengendali pada entitas anak dialokasikan a subsidiary are allocated to the non-controlling
kepada kepentingan non-pengendali bahkan interests even if doing so causes the non-
apabila dialokasikan kepada kepentingan non- controlling interests to have a deficit balance.
pengendali tersebut dapat menimbulkan Non-controlling interests are presented in the
saldo defisit. Kepentingan non-pengendali interim consolidated statements of financial
disajikan di dalam laporan keuangan position within equity, separately from the
konsolidasian interim pada bagian ekuitas, equity of the owners of the parent entity.
yang terpisah dari ekuitas pemilik entitas
induk.
Entitas asosiasi Associates
Entitas asosiasi adalah suatu entitas, dimana An associate is an entity, over which the Group
Grup memiliki pengaruh signifikan dan has significant influence and that is neither
bukan merupakan pengendalian maupun control nor joint control. Direct or indirect
pengendalian bersama. Kepemilikan langsung ownership of 20% or more of the voting power
atau tidak langsung 20% atau lebih dari hak of an investee is presumed to be an ownership
suara investee dianggap sebagai kepemilikan of significant influence, unless it can be clearly
pengaruh signifikan, kecuali dapat dibuktikan demonstrated that this is not the case.
dengan jelas bahwa tidak demikian.
Sesuai metode ekuitas, investasi pada Under the equity method, the investment is
awalnya dicatat pada biaya, dan nilai tercatat initially recognized at cost, and the carrying
akan meningkat atau menurun untuk amount is increased or decreased to recognize
mengakui bagian investor atas laba rugi dan the investor’s share of profit or loss and other
penghasilan komprehensif lain investee comprehensive income of the investee after the
setelah tanggal akuisisi. Di dalam investasi date of acquisition. The Group’s investment in
Grup atas entitas asosiasi termasuk goodwill associates includes goodwill identified on
yang diidentifikasi ketika akuisisi. acquisition.
Jika kepemilikan kepentingan pada entitas If the ownership interest in an associate is
asosiasi berkurang, namun tetap memiliki reduced but significant influence is retained,
pengaruh signifikan, hanya suatu bagian only a proportionate share of the amounts
proporsional atas jumlah yang telah diakui previously recognized in other comprehensive
sebelumnya pada penghasilan komprehensif income is reclassified to profit or loss where
lain yang direklasifikasi ke laba rugi. appropriate.
Page 32
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/21 Exhibit E/21
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Entitas asosiasi (Lanjutan) Associates (Continued)
Bagian Grup atas laba atau rugi entitas The Group’s share of post-acquisition profits or
asosiasi pasca akuisisi diakui dalam laba rugi losses is recognized in profit or loss, and its
dan bagian atas mutasi penghasilan share of post-acquisition movements in other
komprehensif lain pasca akuisisi diakui di comprehensive income is recognized in other
dalam penghasilan komprehensif lain dan comprehensive income with a corresponding
diikuti dengan penyesuaian pada jumlah adjustment to the carrying amount of the
tercatat investasi. Dividen yang akan diterima investment. Dividends receivable from
dari entitas asosiasi diakui sebagai pengurang associates are recognized as reduction in the
jumlah tercatat investasi. carrying amount of the investment.
Jika bagian Grup atas kerugian entitas When the Group’s share of losses in an associate
asosiasi sama dengan atau melebihi equal or exceed its interest in the associate,
kepentingannya pada entitas asosiasi, including any other unsecured receivables, the
termasuk piutang tanpa agunan, Grup Group does not recognize further losses, unless
menghentikan pengakuan bagian it has incurred legal or constructive obligations
kerugiannya, kecuali Grup memiliki or made payments on behalf of the associate.
kewajiban atau melakukan pembayaran atas
nama entitas asosiasi.
Pada setiap tanggal pelaporan, Grup The Group determines at each reporting date
menentukan apakah terdapat bukti objektif whether there is any objective evidence that
bahwa telah terjadi penurunan nilai pada the investment in the associate is impaired. If
investasi pada entitas asosiasi. Jika demikian, this is the case, the Group calculates the
maka Grup menghitung besarnya penurunan amount of impairment as the difference
nilai sebagai selisih antara jumlah yang between the recoverable amount of the
terpulihkan dan nilai tercatat atas investasi associate and its carrying value and recognizes
pada perusahaan asosiasi dan mengakui the amount adjacent to “share in net profit of
selisih tersebut pada “bagian atas laba neto an associate” in profit or loss. Unrealized losses
entitas asosiasi” di laba rugi. Kerugian yang are eliminated unless the transaction provides
belum direalisasi dieliminasi kecuali transaksi evidence of an impairment of the asset
tersebut memberikan bukti penurunan nilai transferred.
atas aset yang ditransfer.
Kebijakan akuntansi entitas asosiasi Accounting policies of associates have been
disesuaikan jika diperlukan untuk changed where necessary to ensure consistency
memastikan konsistensi dengan kebijakan with the policies adopted by the Group.
yang diterapkan oleh Grup.
Laba atau rugi yang dihasilkan dari transaksi Profit or loss resulting from upstream and
hulu dan hilir antara Grup dengan entitas downstream transactions between the Group
asosiasi diakui dalam laporan keuangan and its associates are recognized in the Group’s
konsolidasian interim Grup hanya sebesar interim consolidated financial statements only
bagian investor lain dalam entitas asosiasi. to the extent of unrelated investor’s interests
in the associates.
Keuntungan dan kerugian dilusi yang timbul Dilution gains and losses arising in investments
pada investasi entitas asosiasi diakui dalam in associates are recognized in profit or loss.
laba rugi.
Page 33
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/22 Exhibit E/22
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
c. Prinsip–prinsip konsolidasi dan metode c. Principles of consolidation and equity method
ekuitas (Lanjutan) (Continued)
Transaksi dengan kepentingan non- Transactions with non-controlling interests
pengendali
Transaksi dengan kepentingan non- Transactions with non-controlling interests are
pengendali dihitung sebagai transaksi dengan accounted for as transactions with owners in
pemilik dalam kapasitasnya sebagai pemilik their capacity as owners and therefore no
dan oleh karena itu tidak terdapat goodwill goodwill is recognized as a result of such
yang diakui sebagai hasil transaksi tersebut. transactions. The adjustments to non-
Penyesuaian kepentingan non-pengendali controlling interests are based on a
berdasarkan jumlah proporsional aset bersih proportionate amount of the net assets of the
entitas anak. subsidiaries.
d. Transaksi dan saldo dalam mata uang asing d. Foreign currencies transactions and balances
Akun-akun yang disertakan dalam laporan Items included in the financial statements of
keuangan setiap entitas anggota Grup diukur each of the Group’s entities are measured using
menggunakan mata uang dari lingkungan the currency of the primary economic
ekonomi utama dimana entitas tersebut environment in which the relevant entity
beroperasi (“mata uang fungsional”). Laporan operates (the “functional currency”). The
keuangan konsolidasian interim disajikan interim consolidated financial statements are
dalam Dolar AS, yang merupakan mata uang presented in US Dollars, which is the Company’s
fungsional Perusahaan dan mata uang functional currency and the Group’s
penyajian Grup. presentation currency.
Transaksi dalam mata uang asing dijabarkan Foreign currency transactions are translated
menjadi mata uang fungsional menggunakan into the functional currency using the exchange
kurs yang berlaku pada tanggal transaksi. rates prevailing as at the date of the
Pada tanggal pelaporan, setiap aset dan transactions. As at the reporting date,
liabilitas moneter dalam mata uang asing monetary assets and liabilities denominated in
disesuaikan untuk mencerminkan kurs yang foreign currency are adjusted to reflect the
berlaku pada tanggal tersebut. Keuntungan prevailing exchange rates at such date. Foreign
dan kerugian selisih kurs yang timbul dari exchange gains and losses resulting from the
penyelesaian transaksi dalam mata uang asing settlement of such transactions and from the
dan dari penjabaran aset dan liabilitas translation at period-end exchange rates of
moneter dalam mata uang asing monetary assets and liabilities denominated in
menggunakan kurs yang berlaku pada akhir foreign currencies are recognized in profit or
periode pelaporan diakui dalam laba rugi. loss.
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, kurs nilai tukar yang digunakan adalah rates of exchange used are as follows (full US
sebagai berikut (dalam dolar AS penuh): Dollar amount):
31 Maret/ 31 Desember/
March 2026 December 2025
Rupiah Indonesia (“Rp”) 10.000 0.59 0.60 Indonesian Rupiah (“Rp”) 10,000
Yuan Tiongkok (“CNY”) 0.15 0.14 Chinese Yuan (“CNY”)
Dolar Australia (“AUD”) 0.71 0.67 Australian Dollars (“AUD”)
Euro (“EUR”) 1.15 1.18 Euro (“EUR”)
Page 34
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/23 Exhibit E/23
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
d. Transaksi dan saldo dalam mata uang asing d. Foreign currencies transactions and balances
(Lanjutan) (Continued)
Hasil usaha operasi dan posisi keuangan dari The results of the operations and financial
seluruh entitas anak Grup (tidak ada yang position of all of the Group’s subsidiaries (none
mata uang fungsionalnya mata uang dari of which has the currency of a hyperinflationary
suatu ekonomi hiperinflasi) yang memiliki economy) that have a functional currency
mata uang fungsional yang berbeda dengan different from the Company’s presentation
mata uang penyajian Perusahaan, currency are translated into the Company’s
ditranslasikan dalam mata uang penyajian presentation currency as follows:
Perusahaan sebagai berikut:
(a) Aset dan liabilitas yang disajikan pada (a) The assets and liabilities presented in the
laporan posisi keuangan konsolidasian interim consolidated statements of
interim, dijabarkan pada kurs penutup financial position are translated at the
tanggal laporan posisi keuangan closing rate at the date of the interim
konsolidasian interim tersebut; consolidated statements of financial
position;
(b) Penghasilan dan beban untuk setiap laba (b) The income and expenses for each profit or
rugi dijabarkan menggunakan kurs rata- loss are translated at the average exchange
rata (kecuali jika rata-rata tersebut rates (unless this average is not a
bukan perkiraan wajar efek kumulatif reasonable approximation of the
dari kurs yang berlaku pada tanggal cumulative effect of the rates prevailing on
transaksi, maka penghasilan dan beban the transaction dates, in which case the
dijabarkan menggunakan kurs tanggal income and expenses are translated at the
transaksi); dan rates in force on the dates of the
transactions); and
(c) Seluruh selisih kurs yang timbul diakui (c) All of the resulting exchange differences
dalam penghasilan komprehensif lain. are recognized in other comprehensive
income.
Pada konsolidasi, selisih kurs yang timbul dari On consolidation, exchange differences arising
penjabaran investasi neto pada entitas asing, from the translation of any net investments in
diakui dalam penghasilan komprehensif lain. foreign entities, are recognized in other
Ketika investasi dijual, selisih kurs yang comprehensive income. When the investment is
terkait direklasifikasi ke laba rugi. sold, the associated exchange differences are
reclassified to profit or loss.
e. Transaksi dengan pihak-pihak berelasi e. Transactions with related parties
Pihak-pihak berelasi adalah orang atau Related party represents a person or an entity
entitas yang terkait dengan entitas pelapor: who is related to the reporting entity:
(1) Orang atau anggota keluarga terdekat (1) A person or a close member of the person’s
mempunyai relasi dengan entitas family is related to a reporting entity if
pelapor jika orang tersebut: that person:
(a) Memiliki pengendalian atau (a) Has control or joint control over the
pengendalian bersama atas entitas reporting entity;
pelapor;
(b) Memiliki pengaruh signifikan atas (b) Has significant influence over the
entitas pelapor; atau reporting entity; or
(c) Manajemen kunci entitas pelapor (c) Is member of the key management
atau entitas induk entitas pelapor. personnel of the reporting entity or of a
parent of the reporting entity.
Page 35
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/24 Exhibit E/24
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
e. Transaksi dengan pihak-pihak berelasi e. Transactions with related parties (Continued)
(Lanjutan)
(2) Suatu entitas berelasi dengan entitas (2) An entity is related to a reporting entity if
pelapor jika memenuhi salah satu hal any of the following conditions applies:
berikut:
(a) Entitas dan entitas pelapor adalah (a) The entity and the reporting entity are
anggota dari grup yang sama (artinya members of the same group (which
entitas induk, entitas anak, dan means that each parent, subsidiary and
entitas anak berikutnya terkait fellow subsidiary is related to the
dengan entitas lain); others entity);
(b) Satu entitas adalah entitas asosiasi (b) One entity is an associate or joint
atau ventura bersama dari entitas venture of the other entity (or an
lain (atau entitas asosiasi atau associate or joint venture of a member
ventura bersama yang merupakan of a group of which the other entity is
anggota suatu grup, yang mana a member);
entitas lain tersebut adalah
anggotanya);
(c) Kedua entitas tersebut adalah (c) Both entities are joint ventures of the
ventura bersama dari pihak ketiga same third party;
yang sama;
(d) Satu entitas adalah ventura bersama (d) One entity is a joint venture of a third
dari entitas ketiga dan entitas yang entity and the other entity is an
lain adalah entitas asosiasi dari associate of the third entity;
entitas ketiga;
(e) Entitas tersebut adalah suatu (e) The entity is a post-employment
program imbalan pasca-kerja untuk benefit plan for the benefit of
imbalan kerja dari salah satu entitas employees of either the reporting
pelapor atau entitas yang terkait entity or an entity related to the
dengan entitas pelapor. Jika entitas reporting entity. If the reporting entity
pelapor adalah entitas yang is itself such a plan, the sponsoring
menyelenggarakan program entity are also related to the reporting
tersebut, maka entitas sponsor juga entity;
berelasi dengan entitas pelapor;
(f) Entitas yang dikendalikan atau (f) The entity is controlled or jointly
dikendalikan bersama oleh orang controlled by a person identified in (1);
yang diidentifikasi dalam huruf (1); or
atau
(g) Orang yang diidentifikasi dalam (g) A person identified in (1) (a) has
huruf (1) (a) memiliki pengaruh significant influence over the entity or
signifikan atas entitas atau personel is a member of the key management
manajemen kunci entitas (atau personnel of the entity (or of a parent
entitas induk dari entitas); of the entity);
(h) Entitas, atau anggota dari kelompok (h) The entity, or any member of a group
yang mana entitas merupakan bagian of which it is a part, provides key
dari kelompok tersebut, management personal services to the
menyediakan jasa personal reporting entity or to the parent of the
manajemen kunci kepada entitas reporting entity.
pelapor atau kepada entitas induk
dari entitas pelapor.
Page 36
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/25 Exhibit E/25
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
f. Instrumen keuangan f. Financial instruments
Grup mengklasifikasikan aset dan liabilitas The Group classifies its financial assets and
keuangannya ke dalam kategori berikut: financial liabilities in the following categories:
1) Biaya perolehan diamortisasi; 1) Amortized cost;
2) Nilai wajar melalui laba rugi (“FVTPL”); 2) Fair value through profit or loss (“FVTPL”);
3) Nilai wajar melalui penghasilan 3) Fair value through other comprehensive
komprehensif lain (“FVOCI”). income (“FVOCI”).
Klasifikasi tersebut tergantung dari tujuan The classification depends on the purpose for
perolehan aset keuangan dan liabilitas which the financials assets and financial
keuangan tersebut dan ditentukan pada saat liabilities are acquired and is determined at
awal pengakuannya. initial recognition.
1) Aset keuangan 1) Financial assets
Grup menetapkan klasifikasi aset The Group determines the classification of
keuangan setelah pengakuan awal dan, its financial assets after initial recognition
jika diperbolehkan dan sesuai, akan and, where allowed and appropriate, re-
melakukan evaluasi atas klasifikasi ini evaluates this designation at each financial
pada setiap akhir periode keuangan. period-end.
Seluruh aset keuangan Grup All of the Group’s financial assets classified
diklasifikasikan sebagai aset keuangan as financial assets measured at amortized
yang diukur pada biaya perolehan cost.
diamortisasi.
i. Biaya perolehan diamortisasi i. Amortized cost
Suatu aset keuangan diukur pada Financial assets are measured at
biaya perolehan diamortisasi jika amortized cost if it meets both of the
kedua kondisi berikut terpenuhi: following conditions:
• Aset keuangan dikelola dalam • Financial assets are held within a
model bisnis yang bertujuan business model whose objective is to
untuk memiliki aset keuangan hold financial assets to collect
dalam rangka mendapatkan arus contractual cash flows; and
kas kontraktual; dan
• Persyaratan kontraktual aset • Contractual terms give rise on
keuangan yang menimbulkan arus specified dates to cash flows that are
kas yang semata dari pembayaran solely payments of principal and
pokok dan bunga dari jumlah interest on principal amount
pokok terutang. outstanding.
Pada saat pengakuan awal, aset At initial recognition, financial assets
keuangan yang diklasifikasi sebagai that are classified as amortized cost are
biaya perolehan diamortisasi diukur measured at fair value, plus directly
pada nilai wajarnya, ditambah biaya attributable transaction costs. Interest
transaksi yang dapat diatribusikan income is calculated using the effective
secara langsung. Pendapatan bunga interest rate method and recognized in
dihitung dengan menggunakan profit or loss.
metode suku bunga efektif dan diakui
dalam laba rugi.
Page 37
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/26 Exhibit E/26
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
f. Instrumen keuangan (Lanjutan) f. Financial instruments (Continued)
1) Aset keuangan (Lanjutan) 1) Financial assets (Continued)
ii. FVTPL ii. FVTPL
Aset keuangan yang diukur Financial assets measured at FVTPL are
menggunakan FVTPL merupakan debt instruments which do not meet the
instrumen utang yang tidak diukur criteria of amortized cost or FVOCI,
pada biaya perolehan diamortisasi equity investments which are held for
atau FVOCI, investasi ekuitas yang trading or where the FVOCI election has
dimiliki untuk diperdagangkan atau not been applied, derivatives which are
dimana pilihan FVOCI tidak berlaku, not designated as a hedging instrument.
derivatif yang bukan merupakan Fair value gains or losses from these
instrumen lindung nilai. Keuntungan financial assets are recorded in profit or
atau kerugian nilai wajar atas aset loss.
keuangan ini dicatat pada laba rugi.
iii. FVOCI iii. FVOCI
Aset keuangan yang diukur Financial assets measured at FVOCI are
menggunakan FVOCI merupakan equity investments, that is not held for
investasi ekuitas, yang bukan trading and the Group has irrevocably
dimiliki untuk diperdagangkan dan elected to present fair value of equity
Grup telah memilih secara tak investment in other comprehensive
terbatalkan untuk menyajikan income; debt instruments that are held
perubahan pada nilai wajar investasi to get contractual cash flows and selling
ekuitas dalam penghasilan the financial assets, where the assets’
komprehensif lain; instrumen utang cash flows represent solely payment of
yang dimiliki untuk mendapatkan principal and interest. Dividend from
arus kas kontraktual dan penjualan equity investments is recognized in
aset keuangan, dimana arus kas aset profit or loss while the Group’s right to
merupakan pembayaran pokok dan receive payment is established.
bunga. Dividen dari investasi ekuitas
diakui dalam laba rugi ketika hak
Grup untuk menerima pembayaran
ditetapkan.
2) Liabilitas keuangan 2) Financial liabilities
Liabilitas keuangan diklasifikasikan Financial liabilities are classified as
sebagai liabilitas keuangan yang diukur financial liabilities at fair value through
pada nilai wajar melalui laba rugi dan profit or loss and financial liabilities at
liabilitas keuangan yang diukur pada amortized cost. The Group determines the
biaya perolehan diamortisasi, mana yang classification of its financial liabilities at
sesuai. Grup menetapkan klasifikasi atas initial recognition.
liabilitas keuangan pada saat pengakuan
awal.
Liabilitas keuangan diukur pada biaya Financial liabilities are measured at
perolehan diamortisasi, dengan amortized cost, using the effective interest
menggunakan metode suku bunga method. Gains and losses are recognized in
efektif. Keuntungan dan kerugian diakui profit and loss when the liabilities are
di dalam laba dan rugi ketika liabilitas derecognized, and through the
dihentikan pengakuannya, dan melalui amortization process.
proses amortisasi.
Page 38
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/27 Exhibit E/27
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
f. Instrumen keuangan (Lanjutan) f. Financial instruments (Continued)
3) Penghentian pengakuan 3) Derecognition
Suatu aset keuangan dihentikan A financial asset is derecognized when the
pengakuannya apabila hak untuk rights to receive cash flows from the asset
menerima arus kas aset telah berakhir. have expired.
Pada penghentian aset keuangan secara On derecognition of a financial asset in its
keseluruhan, selisih antara nilai tercatat entirely, the difference between the
dengan jumlah yang akan diterima dan carrying amount and the sum of the
semua kumulatif keuntungan atau consideration received and any cumulative
kerugian yang telah diakui di dalam gain or loss that had been recognized in
penghasilan komprehensif lain diakui di other comprehensive income is recognized
dalam laba rugi. in profit or loss.
Semua pembelian dan penjualan yang All regular purchases and sales of financial
lazim atas aset keuangan diakui dan assets are recognized or derecognized on
dihentikan pengakuannya pada saat the trading date, which is the date that the
tanggal perdagangan, yaitu tanggal Grup Group commits to purchase or sell the
berkomitmen untuk membeli atau asset.
menjual aset.
Pembelian atau penjualan yang lazim Regular way purchases or sales are
adalah pembelian atau penjualan aset purchases or sales of financial assets that
keuangan berdasarkan kontrak yang require delivery of assets within the period
mensyaratkan penyerahan aset dalam generally established by regulation or
kurun waktu yang ditetapkan dengan convention in the market-place concerned.
peraturan atau kebiasaan yang berlaku di
pasar.
Liabilitas keuangan dihentikan A financial liability is derecognized when
pengakuannya ketika liabilitas yang the obligation specified in the contract is
ditetapkan dalam kontrak dilepaskan discharged or cancelled or expired.
atau dibatalkan atau kadaluwarsa.
Ketika liabilitas keuangan saat ini When an existing financial liability is
digantikan dengan yang lain dari pemberi replaced by another from the same lender
pinjaman yang sama dengan persyaratan on substantially different terms, or the
yang berbeda secara substansial, atau terms of an existing liability are
modifikasi secara substansial atas substantially modified, such an exchange or
ketentuan liabilitas keuangan yang saat modification is treated as a derecognition
ini ada, maka pertukaran atau modifikasi of the original liability and the recognition
tersebut dicatat sebagai penghapusan of a new liability, and the difference in the
liabilitas keuangan awal dan pengakuan respective carrying amounts is recognized
liabilitas keuangan baru, dan selisih in profit or loss.
antara nilai tercatat liabilitas keuangan
tersebut diakui sebagai laba rugi.
Page 39
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/28 Exhibit E/28
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
f. Instrumen keuangan (Lanjutan) f. Financial instruments (Continued)
4) Saling hapus instrumen keuangan 4) Offsetting financial instruments
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are set-off
dapat saling hapus dan nilai bersihnya and the net amount is presented in the
disajikan dalam laporan posisi keuangan interim consolidated statements of
konsolidasian interim ketika, dan hanya financial position when, and only when, the
ketika, Grup memiliki hak yang Group has the legal right to set off the
berkekuatan hukum untuk melakukan amounts and intends either to settle on a
saling hapus atas jumlah yang telah net basis or realize the asset and settle the
diakui tersebut dan terdapat niat untuk liabilities simultaneously.
menyelesaikan secara neto, atau
merealisasikan aset dan menyelesaikan
liabilitas secara simultan.
Pendapatan dan beban disajikan neto Income and expenses are presented net only
hanya jika diperkenankan oleh standar when permitted by accounting standards.
akuntansi.
5) Penurunan nilai aset keuangan 5) Impairment of financial assets
Dalam PSAK No. 109, “Instrumen In SFAS No. 109, “Financial Instruments”,
Keuangan”, provisi penurunan nilai atas impairment loss provision of financial
aset keuangan diukur menggunakan assets measured at expected credit losses
model kerugian kredit ekspetasian dan model (“ECLs”) and applied for financial
berlaku untuk aset keuangan yang diukur assets which measured at amortized cost or
pada biaya perolehan diamortisasi atau FVOCI. The impairment method applied
FVOCI. Metode penurunan nilai dilakukan depends on whether there has been a
dengan mempertimbangkan apakah significant increase in credit risk.
risiko kredit telah meningkat secara
signifikan.
Pada setiap periode pelaporan, Grup At each reporting date, the Group assesses
menilai apakah risiko kredit dari whether the credit risk on a financial
instrumen keuangan telah meningkat instrument has increased significantly since
secara signifikan sejak pengakuan awal. initial recognition. When making the
Ketika melakukan penilaian, Grup assessment, the Group uses the change in
menggunakan perubahan atas risiko the risk of a default occurring over the
gagal bayar yang terjadi sepanjang expected life of the financial instrument
perkiraan usia instrumen keuangan instead of the change in the amount of
daripada perubahan atas jumlah expected credit losses (“ECL”). To make
kerugian kredit ekspektasian (“KKE”). that assessment, the Group compares the
Dalam melakukan penilaian, Grup risk of a default occurring on the financial
membandingkan antara risiko gagal instrument as at the reporting date with
bayar yang terjadi atas instrumen the risk of a default occurring on the
keuangan pada saat periode pelaporan financial instrument as at the date of initial
dengan risiko gagal bayar yang terjadi recognition and consider reasonable and
atas instrumen keuangan pada saat supportable information, that is available
pengakuan awal dan mempertimbangkan without undue cost or effort at the
kewajaran serta ketersediaan informasi reporting date about past events, current
yang tersedia pada saat tanggal conditions and forecasts of future economic
pelaporan terkait dengan kejadian masa conditions, that is indicative of significant
lalu, kondisi terkini dan perkiraan atas increases in credit risk since initial
kondisi ekonomi di masa depan, yang recognition.
mengindikasikan kenaikan risiko kredit
sejak pengakuan awal.
Page 40
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/29 Exhibit E/29
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
f. Instrumen keuangan (Lanjutan) f. Financial instruments (Continued)
5) Penurunan nilai aset keuangan 5) Impairment of financial assets
(Lanjutan) (Continued)
Grup menerapkan “pendekatan yang The Group applies the “simplified
disederhanakan” untuk mengukur KKE approach” to measuring ECL which uses a
yang menggunakan cadangan KKE seumur lifetime expected loss allowance for all
hidup untuk seluruh saldo piutang usaha trade receivables, other receivables and
dan piutang lain-lain dan aset kontrak contract assets without significant
tanpa komponen pendanaan yang financing components and the “general
signifikan dan “pendekatan umum” approach” for all other financial assets.
untuk aset keuangan lainnya. The general approach incorporates a review
Pendekatan umum termasuk penelahaan for any significant increase in counterparty
perubahan signifikan risiko kredit sejak credit risk since inception. The expected
terjadinya. Penelaahan KKE termasuk credit loss reviews include assumptions
asumsi mengenai risiko gagal bayar dan about the risk of default and expected loss
tingkat kerugian ekspektasian. Untuk rates. To measure the ECL, trade
mengukur KKE, piutang usaha telah receivables have been grouped based on
dikelompokkan berdasarkan karakteristik similar credit risk characteristics and the
risiko kredit dan jatuh tempo yang days past due. The Group establishes a
serupa. Grup membentuk matriks provisi provision matrix that is based on its
berdasarkan pengalaman kerugian kredit historical credit loss experience, adjusted
masa lampau, disesuaikan dengan for forward-looking factors specific to the
perkiraan masa depan (forward-looking) Group and the economic environment.
atas faktor yang spesifik untuk Grup dan
lingkungan ekonomi.
g. Kas dan bank g. Cash and cash in banks
Kas dan bank termasuk kas dan kas di bank Cash and cash in banks consist of cash on hand
yang tidak digunakan sebagai jaminan atau and cash in banks that are not used as collateral
tidak dibatasi penggunaannya. or are not restricted.
Laporan arus kas konsolidasian interim The interim consolidated statements of cash
disusun menggunakan metode langsung flows have been prepared using the direct
dengan mengklasifikasikan arus kas method by classifying the cash flows on the basis
berdasarkan aktivitas operasi, investasi, dan of operating, investing and financing activities.
pendanaan.
h. Piutang usaha dan piutang lain-lain h. Trade and other receivables
Piutang usaha adalah jumlah tagihan dari Trade receivables are amounts due from
pelanggan untuk barang yang dijual atau jasa customers for goods sold or services performed
yang diberikan dalam transaksi bisnis pada in the ordinary course of business. Other
umumnya. Piutang lain-lain adalah jumlah receivables are amounts due from third parties
tagihan dari pihak ketiga atau pihak berelasi or related parties for transactions outside of
di luar kegiatan usaha. the ordinary course of business.
Page 41
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/30 Exhibit E/30
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
h. Piutang usaha dan piutang lain-lain h. Trade and other receivables (Continued)
(Lanjutan)
Jika pembayaran piutang diharapkan selesai If collection is expected in one year or less (or
dalam satu tahun atau kurang (atau dalam in the normal operating cycle of the business if
siklus normal operasi dari bisnis jika lebih longer), they are classified as current assets. If
lama), piutang tersebut dikelompokkan not, they are presented as non-current assets.
sebagai aset lancar. Jika tidak, piutang
tersebut disajikan sebagai aset tidak lancar.
Jumlah kerugian penurunan nilai diakui pada The amount of impairment loss is recognized in
laba rugi untuk piutang usaha dan piutang profit or loss for trade receivables and for other
lain-lain. Ketika piutang usaha dan piutang receivables. When a trade and other receivable
lain-lain, yang rugi penurunan nilainya telah for which an impairment provision had been
diakui, tidak dapat ditagih pada periode recognized becomes uncollectible in a
selanjutnya, maka piutang tersebut subsequent period, it is written off against the
dihapusbukukan dengan mengurangi akun provision account. Subsequent recoveries of
provisi. Jumlah yang selanjutnya dapat amounts previously written off are credited
ditagih kembali atas piutang yang against “Other expenses - net” in profit or loss.
sebelumnya telah dihapusbukukan,
dikreditkan terhadap “Beban lain-lain -
bersih” pada laba rugi.
i. Persediaan i. Inventories
Persediaan diukur pada nilai terendah antara Inventories are measured at the lower of cost or
biaya perolehan atau nilai realisasi neto. net realizable value. Allowance for inventory
Penyisihan atas persediaan usang dan obsolescence and decline in the value of
penurunan nilai persediaan, jika ada, inventories, if any, is provided to reduce the
dibentuk untuk mengurangi nilai tercatat carrying value of inventories to their net
persediaan menjadi nilai realisasi neto. Nilai realizable value. Net realizable value is the
realisasi neto adalah estimasi harga jual estimated selling price in the ordinary course of
dalam kegiatan usaha normal dikurangi business, less the estimated cost of completion
estimasi biaya penyelesaian dan estimasi and estimated costs necessary to make the sale.
biaya yang diperlukan untuk membuat
penjualan.
Biaya perolehan dari bahan baku, pekerjaan Cost of raw materials, work in progress and
dalam proses dan barang jadi dihitung dengan finished goods is determined using the weighted
menggunakan rumus biaya rata-rata average method which includes mining costs,
tertimbang yang mencakup biaya direct labor costs, other direct costs and an
penambangan, biaya tenaga kerja langsung, appropriate portion of fixed and variable
biaya langsung lainnya, dan alokasi bagian overheads related to mining and manufacturing
biaya tidak langsung variabel dan tetap yang operations.
berkaitan dengan kegiatan penambangan dan
manufaktur.
Bahan pembantu untuk proses produksi, Indirect materials for production, supplies and
bahan pendukung dan persediaan suku spare parts are valued at cost less a provision
cadang dinilai dengan biaya perolehan for obsolete and slow-moving inventory. Cost is
dikurangi dengan provisi persediaan usang determined using the weighted average
dan bergerak lambat. Biaya perolehan method. Supplies of maintenance materials are
dihitung dengan menggunakan rumus biaya charged to production costs in the period in
rata-rata tertimbang. Bahan pendukung which they are used.
kegiatan pemeliharaan dicatat sebagai beban
produksi pada periode digunakan.
Page 42
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/31 Exhibit E/31
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
j. Aset tetap j. Property, plant and equipment
Pada pengakuan awal, komponen aset tetap Components of property, plant and equipment
dinilai sebesar biaya perolehan. Sebagaimana are initially recognized at cost. As well as the
halnya harga pembelian, biaya perolehan purchase price, cost includes any costs directly
meliputi setiap biaya yang dapat attributable to bring the asset to the location
diatribusikan secara langsung untuk and condition necessary for it to be capable of
membawa aset ke lokasi dan kondisi yang operating in the manner intended by
diperlukan supaya aset tersebut siap management and the estimated present value of
digunakan sesuai dengan intensi manajemen any future unavoidable costs of dismantling and
dan nilai kini estimasi seluruh biaya-biaya removing the assets.
masa depan yang tidak dapat dihindari atas
pembongkaran dan pemindahan aset tetap.
Grup juga menerapkan model biaya di dalam The Group has applied the cost model in
pengakuan setelah pengakuan awal bagi aset subsequent recognition for its property, plant
tetap. and equipment.
Aset tetap selain tanah diakui sebesar biaya Property, plant and equipment, other than land
perolehan dikurangi akumulasi penyusutan are recognized at cost less accumulated
dan akumulasi kerugian penurunan nilai. Aset depreciation and accumulated impairment
tetap, selain infrastruktur pertambangan dan losses. Property, plant and equipment, except
alat berat tertentu, disusutkan dengan for mining infrastructure and certain heavy
menggunakan metode garis lurus sebesar equipment, were depreciated using the
persentase tertentu dari harga perolehannya. straight-line method for a certain percentage of
Infrastruktur pertambangan di area the acquisition costs. Mining infrastructure in
pertambangan tertentu disusutkan certain mining area are depreciated using the
menggunakan metode unit produksi units-of-production method on the basis of
berdasarkan cadangan terbukti dan cadangan proven and probable reserves. Certain heavy
terkira. Alat berat tertentu disusutkan atas equipment are depreciated using hourly
dasar penggunaan jam kerja selama taksiran utilization basis over their estimated operating
umur operasi alat berat tersebut. life.
Penyusutan terhadap aset dalam konstruksi Depreciation on assets under construction does
tidak dimulai sampai aset tersebut selesai not commence until they are complete and
dibangun dan tersedia untuk digunakan. available for use. Depreciation is provided on
Penyusutan berlaku bagi item-item lain aset all other items of property, plant and
tetap untuk mengurangi nilai tercatat equipment so as to write-off their carrying
terhadap umur manfaat ekonomis yang value over their expected useful economic lives.
diharapkan.
Umur manfaat ekonomis yang diharapkan It is provided at the following rates:
adalah sebagai berikut:
Tarif penyusutan/
Depreciation rate
Tahun/Years (%)
Pabrik 16-20 5-6.25 Plant
Bangunan 10-20 5-10 Building
Mesin dan peralatan 4-16 6.25-25 Machineries and equipment
Kendaraan 4-8 12.5-25 Vehicles
Perabotan dan peralatan 4 25 Furniture and fixtures
Peralatan IT dan komunikasi 4 25 IT and communication equipment
Alat berat 8 12.5 Heavy equipment
Perlengkapan kantor 4 25 Office equipment
Page 43
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/32 Exhibit E/32
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
j. Aset tetap (Lanjutan) j. Property, plant and equipment (Continued)
Beban penyusutan diperhitungkan di dalam Depreciation expenses are taken to profit or
laba rugi selama periode buku di mana beban loss during the financial period in which they
tersebut terjadi. are incurred.
Perbaikan dan perawatan diperhitungkan ke Repairs and maintenance expenses are taken to
dalam laba rugi selama periode di mana profit or loss during the financial period in
perbaikan dan perawatan terjadi. which they are incurred.
Biaya renovasi dan restorasi utama The cost of major renovations and restorations
digabungkan ke dalam nilai tercatat aset jika is included in the carrying amount of the asset
biaya tersebut memiliki kemungkinan untuk when it is probable that future economic
memberikan manfaat di masa depan yang benefits in excess of the originally assessed
jumlahnya melebihi standar kinerja pada standard of performance of the existing asset
penilaian awal aset yang ada yang akan will flow to the Group and is depreciated over
mengalir ke dalam Grup dan disusutkan the remaining useful life of the asset.
sebesar sisa umur manfaat aset tersebut.
Nilai sisa, masa manfaat, dan metode The residual value, useful life and depreciation
depresiasi, dikaji pada tiap akhir periode method are reviewed at the end of each
pelaporan, dan disesuaikan secara prospektif, reporting period, and adjusted prospectively, if
sesuai dengan keadaan. Ketika terdapat appropriate. Where an indication of
indikasi penurunan nilai, nilai tercatat aset impairment exists, the carrying amount of the
dinilai dan segera dicatat berdasarkan jumlah asset is assessed and written down immediately
terpulihkan. to its recoverable amount.
Keuntungan atau kerugian pelepasan aset Gains or losses on disposal of property, plant
tetap ditentukan dengan membandingkan and equipment are determined by comparing
penerimaan dengan nilai tercatat dan dicatat proceeds with the carrying amount and are
ke dalam laba rugi dari operasi. included in profit or loss from operations.
Aset dalam pembangunan Construction in progress
Aset dalam pembangunan merupakan aset Construction in progress represents property,
tetap dalam tahap konstruksi, yang plant and equipment under construction which
dinyatakan pada biaya perolehan dan tidak is stated at cost and is not depreciated. The
disusutkan. Akumulasi biaya direklasifikasi ke accumulated costs are reclassified to the
akun aset tetap yang bersangkutan dan respective property, plant and equipment
disusutkan pada saat konstruksi selesai secara account and are depreciated when the
substansial dan aset tersebut telah siap construction is substantially complete and the
digunakan sesuai dengan penggunaan yang asset is available for its intended use.
diintensikan.
Biaya yang dapat diatribusikan langsung Directly attributable costs include costs of
termasuk biaya pengujian apakah aset testing whether the asset is functioning
berfungsi dengan baik (yaitu menilai apakah properly (i.e. assessing whether the technical
kinerja teknis dan kinerja fisik sedemikian and physical performance of the asset is such
rupa sehingga dapat digunakan dalam that it is capable of being used in the
produksi atau penyediaan barang, untuk production or supply of goods, for rental to
disewakan kepada pihak lain, atau untuk others, or for administrative purposes).
tujuan administratif).
Page 44
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/33 Exhibit E/33
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
j. Aset tetap (Lanjutan) j. Property, plant and equipment (Continued)
Aset dalam pembangunan (Lanjutan) Construction in progress (Continued)
Beberapa item mungkin dihasilkan saat Items may be produced while bringing an item
membawa aset tetap ke lokasi dan kondisi of property, plant and equipment to the
yang diperlukan supaya aset siap digunakan location and condition necessary for it to be
sesuai dengan intensi manajemen (seperti capable of operating in the manner intended by
sampel yang dihasilkan ketika menguji management (such as samples produced when
apakah aset berfungsi dengan baik). Grup testing whether the asset is functioning
mengakui hasil penjualan item tersebut, dan properly). The Group recognizes the proceeds
biaya perolehan item tersebut, dalam laba from selling any such items, and the cost of
rugi sesuai dengan standar yang berlaku. Grup those items, in profit or loss in accordance with
mengukur biaya perolehan atas item tersebut applicable standards. The Group measures the
dengan menerapkan persyaratan pengukuran cost of those items applying the measurement
dalam PSAK No. 202, “Persediaan”. requirements of SFAS No. 202, “Inventories”.
k. Properti pertambangan k. Mining properties
Biaya pengembangan yang dikeluarkan oleh Development expenditure incurred by or on
atau atas nama Grup diakumulasikan secara behalf of the Group is accumulated separately
terpisah untuk setiap area of interest pada for each area of interest in which economically
saat cadangan terpulihkan yang secara recoverable resources have been identified.
ekonomis dapat diidentifikasi. Biaya tersebut Such expenditure comprises costs directly
termasuk biaya yang dapat diatribusikan attributable to the construction of a mine and
secara langsung pada konstruksi tambang dan the related infrastructure and excludes physical
infrastruktur terkait, tidak termasuk biaya assets and land rights (i.e. right to build, right
aset berwujud dan hak atas tanah (seperti to cultivate and right to use), which are
hak guna bangunan, hak guna usaha, dan hak recorded as property, plant and equipment.
pakai) yang dicatat sebagai aset tetap.
Ketika keputusan pengembangan telah Once a development decision has been taken,
diambil, jumlah tercatat aset eksplorasi dan the carrying amount of the exploration and
evaluasi pada area of interest tertentu evaluation assets in respect of the area of
dipindahkan sebagai “tambang dalam interest is transferred to “mines under
pengembangan” pada akun properti development” within mining properties and
pertambangan dan digabung dengan aggregated with the subsequent development
pengeluaran biaya pengembangan expenditure.
selanjutnya.
“Tambang dalam pengembangan” “Mines under development” are reclassified as
direklasifikasi ke “tambang yang “mines in production” within mining properties
berproduksi” pada akun properti at the end of the commissioning phase, when
pertambangan pada akhir tahap komisioning, the mine is capable of operating in the manner
ketika tambang tersebut dapat beroperasi intended by management.
sesuai dengan maksud manajemen.
“Tambang dalam pengembangan” tidak No depreciation is recognized for “mines under
disusutkan sampai direklasifikasi menjadi development” until they are reclassified to
“tambang yang berproduksi” sebagai properti “mines in production” as mining properties.
pertambangan.
Page 45
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/34 Exhibit E/34
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
k. Properti pertambangan (Lanjutan) k. Mining properties (Continued)
Ketika timbul biaya pengembangan lebih When further development expenditure is
lanjut atas properti pertambangan setelah incurred on a mining property after the
dimulainya produksi, maka biaya tersebut commencement of production, the expenditure
akan dicatat sebagai bagian dari “tambang is carried forward as part of “mines in
yang berproduksi” apabila terdapat production” when it is probable that additional
kemungkinan besar tambahan manfaat future economic benefits associated with the
ekonomi masa depan sehubungan dengan expenditure will flow to the Group. Otherwise,
biaya tersebut akan mengalir ke Grup. such expenditure is classified as a cost of
Apabila tidak, biaya tersebut dibebankan production.
sebagai biaya produksi.
“Tambang yang berproduksi” (termasuk biaya “Mines in production” (including reclassified
eksplorasi, evaluasi dan pengembangan, serta exploration, evaluation and any development
pembayaran untuk memperoleh hak expenditure, and payments to acquire mineral
penambangan dan sewa) diamortisasi dengan rights and leases) are amortized using the units-
menggunakan metode unit produksi, dengan of-production method, with separate
perhitungan terpisah yang dibuat untuk calculations being made for each area of
setiap area of interest. “Tambang yang interest. “Mines in production” will be depleted
berproduksi” dideplesi menggunakan metode using the units-of-production method on the
unit produksi berdasarkan cadangan terbukti basis of proven and probable reserves.
dan cadangan terkira.
Properti pertambangan teridentifikasi yang Identifiable mining properties acquired in a
diperoleh melalui suatu kombinasi bisnis pada business combination are initially recognized as
awalnya diakui sebagai aset sebesar nilai assets at their fair value. Development
wajarnya. Pengeluaran pengembangan yang expenses incurred subsequent to the acquisition
terjadi setelah akuisisi properti of the mining properties are accounted for in
pertambangan dicatat berdasarkan kebijakan accordance with the policy outlined above.
akuntansi yang dijelaskan di atas.
“Tambang dalam pengembangan” dan “Mines under development” and “mines in
“tambang yang berproduksi” diuji penurunan production” are tested for impairment in
nilainya dengan mengacu pada kebijakan accordance with the policy described in
akuntansi pada Catatan 2m. Note 2m.
Biaya pengupasan tanah Stripping costs
Biaya pengupasan lapisan tanah merupakan Stripping costs are the costs of removing
biaya yang dikeluarkan untuk membuang overburden from a mine. Stripping costs
tanah penutup suatu tambang. Biaya incurred in the development of a mine before
pengupasan lapisan tanah yang terjadi pada production commences are capitalized as part
tahap pengembangan tambang sebelum of the cost of developing the mine, and are
dimulainya produksi diakui sebagai biaya subsequently depleted using the units-of-
pengembangan tambang dan akan dideplesi production method on the basis of proven and
menggunakan metode unit produksi probable reserves.
berdasarkan cadangan terbukti dan cadangan
terkira.
Aktivitas pengupasan lapisan tanah yang Stripping activity conducted during the
terjadi selama tahap produksi mungkin production phase may provide two benefits that
memiliki dua manfaat untuk kepentingan accrue to the Group: (i) nickel that is processed
Grup: (i) nikel yang dapat diproses untuk into inventory in the current period; and
menjadi persediaan dalam periode berjalan; (ii) improved access to the nickel body in future
dan (ii) peningkatan akses ke badan nikel di periods.
periode berikutnya.
Page 46
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/35 Exhibit E/35
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
k. Properti pertambangan (Lanjutan) k. Mining properties (Continued)
Biaya pengupasan tanah (Lanjutan) Stripping costs (Continued)
Sepanjang manfaat dari aktivitas pengupasan To the extent that the benefit from the
lapisan tanah dapat direalisasikan dalam stripping activity is realized in the form of
bentuk persediaan yang diproduksi dalam inventory produced, the Group accounts for the
periode tersebut, Grup mencatat biaya atas costs of this stripping activity in accordance
aktivitas pengupasan lapisan tanah sesuai with the principles of SFAS No. 202,
dengan prinsip PSAK No. 202, “Persediaan”. “Inventories”. To the extent the benefit is
Sepanjang biaya pengupasan lapisan tanah improved access to the nickel body, the Group
memberikan manfaat peningkatan akses recognizes these costs as a stripping activity
menuju badan nikel di periode yang akan asset if, and only if, all of the following criteria
datang, Grup mencatat biaya tersebut are met:
sebagai aset aktivitas pengupasan lapisan
tanah, jika dan hanya jika, memenuhi kriteria
berikut:
1. Besar kemungkinan bahwa manfaat 1. It is probable that the future economic
ekonomik masa depan (peningkatan benefit (improved access to the nickel
akses menuju badan nikel) yang terkait body) associated with the stripping activity
dengan aktivitas pengupasan lapisan will flow to the Group;
tanah akan mengalir kepada Grup;
2. Grup dapat mengidentifikasi komponen 2. The Group can identify the component of
badan nikel yang aksesnya telah the nickel body for which access has been
ditingkatkan; dan improved; and
3. Biaya aktivitas pengupasan lapisan tanah 3. The costs relating to the stripping activity
yang terkait dengan komponen tersebut associated with that component can be
dapat diukur secara andal. measured reliably.
Aset aktivitas pengupasan lapisan tanah pada A stripping activity asset is initially measured
awalnya diukur pada biaya perolehan, yang at cost, which represents the accumulation of
merupakan akumulasi dari biaya-biaya yang costs directly incurred to perform stripping
secara langsung terjadi untuk melakukan activity that improves access to the identified
aktivitas pengupasan lapisan tanah yang component of the nickel body, plus an
meningkatkan akses terhadap komponen allocation of directly attributable overhead
badan nikel yang teridentifikasi, ditambah costs. If incidental operations are occurring at
alokasi biaya overhead yang dapat the same time as the production stripping
diatribusikan secara langsung. Jika aktivitas activity, but are not necessary for the
insidentil terjadi pada saat yang bersamaan production stripping activity to continue as
dengan pengupasan lapisan tanah tahap planned, the costs associated with these
produksi, namun aktivitas insidentil tersebut incidental operations are not included in the
tidak harus ada untuk melanjutkan aktivitas cost of the stripping activity asset.
pengupasan lapisan tanah sebagaimana
direncanakan, biaya yang terkait dengan
aktivitas insidentil tersebut tidak dapat
dimasukkan sebagai biaya perolehan aset
aktivitas pengupasan lapisan tanah.
Page 47
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/36 Exhibit E/36
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
k. Properti pertambangan (Lanjutan) k. Mining properties (Continued)
Biaya pengupasan tanah (Lanjutan) Stripping costs (Continued)
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 identifiable, the Group allocates the
secara terpisah, Grup mengalokasikan biaya production stripping costs between the
pengupasan lapisan tanah dalam tahap inventory produced and the stripping activity
produksi antara persediaan yang diproduksi asset using an allocation basis that is based on
dan aset aktivitas pengupasan lapisan tanah a relevant production measure. This production
menggunakan dasar alokasi berdasarkan measure is calculated for the identified
ukuran produksi yang relevan. Ukuran component of the nickel body, and is used as a
produksi tersebut dihitung untuk komponen benchmark to identify the extent to which the
badan nikel teridentifikasi, dan digunakan additional activity of creating a future benefit
sebagai patokan untuk mengidentifikasi has taken place. The Group uses the expected
sejauh mana aktivitas tambahan yang volume of waste extracted compared with the
menciptakan manfaat di masa depan telah actual volume for a given volume of nickel
terjadi. Grup menggunakan ekspektasi production.
volume material sisa tambang yang diekstrak
dibandingkan dengan volume aktual untuk
setiap volume produksi nikel.
Setelah pengakuan awal, aset aktivitas Subsequently, the stripping activity asset is
pengupasan lapisan tanah dicatat carried at cost less amortization and
menggunakan biaya perolehan dikurangi impairment losses, if any. The stripping activity
dengan amortisasi dan rugi penurunan nilai, asset is amortized using the units-of-production
jika ada. Aset aktivitas pengupasan lapisan method over the expected useful life of the
tanah diamortisasi menggunakan metode unit identified component of the nickel body that
produksi selama ekspektasi masa manfaat becomes more accessible as a result of the
dari komponen badan nikel yang stripping activity unless another method is
teridentifikasi yang menjadi lebih mudah more appropriate.
diakses sebagai akibat dari aktivitas lapisan
pengupasan tanah, kecuali terdapat metode
lain yang lebih tepat.
Perubahan pada ekspektasi masa manfaat Changes to the expected useful life of the
dari komponen badan nikel yang identified component of the nickel body are
teridentifikasi dinyatakan sebagai perubahan considered changes in estimates and are
atas estimasi dan dicatat menggunakan basis accounted for on a prospective basis.
prospektif.
Aset aktivitas pengupasan lapisan tanah A stripping activity asset is accounted for as an
dicatat sebagai penambahan atau addition to, or enhancement of, an existing
peningkatan dari aset yang ada, sehingga asset, and therefore is presented as part of
disajikan sebagai “properti pertambangan” “mining properties” in the interim consolidated
pada laporan posisi keuangan konsolidasian statements of financial position.
interim.
Aset aktivitas pengupasan lapisan tanah Any stripping activity asset is included in the
dimasukkan ke dalam basis biaya perolehan cost base of assets when determining a Cash-
aset saat penentuan Unit Penghasil Kas Generating Unit (“CGU”) for impairment
(“UPK”) dalam tujuan pengujian penurunan assessment purposes.
nilai.
Page 48
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/37 Exhibit E/37
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
k. Properti pertambangan (Lanjutan) k. Mining properties (Continued)
Biaya pengupasan tanah (Lanjutan) Stripping costs (Continued)
Pada tanggal laporan keuangan konsolidasian As at the date of these interim consolidated
interim ini, Grup tidak memiliki biaya financial statements, the Group did not have
pengupasan lapisan tanah selama tahap stripping costs during the production phase
produksi yang memenuhi kriteria untuk which qualify for deferral in accordance with
ditangguhkan seperti yang ditetapkan dalam the Group’s accounting policies.
kebijakan akuntansi Grup.
l. Goodwill l. Goodwill
Goodwill timbul dari akuisisi entitas anak dan Goodwill arises from the acquisition of
merupakan selisih imbalan yang ditransfer subsidiaries and represents the excess of the
terhadap kepemilikan dalam nilai wajar neto consideration transferred over the interest in
atas aset, liabilitas, dan liabilitas kontinjensi the net fair value of the net identifiable assets,
teridentifikasi dan nilai wajar kepentingan liabilities and contingent liabilities of the
non-pengendali pada pihak diakuisisi. acquiree and the fair value of the non-
controlling interest in the acquiree.
Untuk pengujian penurunan nilai, goodwill For the purposes of impairment testing,
yang diperoleh dalam kombinasi bisnis goodwill acquired in a business combination is
dialokasikan pada setiap UPK, atau kelompok allocated to each CGU, or group of CGUs, that
UPK, yang diharapkan dapat memberikan is expected to benefit from the synergies of the
manfaat dari sinergi kombinasi bisnis combination. Each CGU or group of CGUs to
tersebut. Setiap unit atau kelompok unit yang which the goodwill is allocated represents the
memperoleh alokasi goodwill menunjukkan lowest level within the entity at which goodwill
tingkat terendah dalam entitas yang is monitored for internal management
goodwill-nya dipantau untuk tujuan purposes. Goodwill is monitored at the
manajemen internal. Goodwill dipantau pada operating segment level.
level segmen operasi.
Aset yang memiliki umur manfaat tidak Assets that have an indefinite useful life, for
terbatas, misalnya goodwill atau aset example, goodwill or intangible assets not
takberwujud yang belum siap digunakan, ready to use, are not subject to amortization
tidak diamortisasi namun diuji penurunan but tested annually for impairment, or more
nilainya setiap tahun, atau lebih sering jika frequently if events or changes in circumstances
terdapat kejadian atau perubahan keadaan indicate that the carrying amount may not be
yang mengindikasikan bahwa nilai recoverable. Assets that have a definite useful
tercatatnya mungkin tidak dapat dipulihkan. life are subject to amortization or depreciation
Aset yang memiliki umur manfaat terbatas, and are reviewed for impairment whenever
diamortisasi atau didepresiasi, dan diuji events or changes in circumstances indicate
untuk penurunan nilai jika terdapat kejadian that the carrying amount may not be
atau perubahan keadaan yang recoverable. An impairment loss is recognized
mengindikasikan bahwa nilai tercatatnya at the amount by which the asset’s carrying
mungkin tidak dapat dipulihkan. Penurunan amount exceeds its recoverable amount. The
nilai diakui jika nilai tercatat aset melebihi recoverable amount is the higher of an asset’s
jumlah terpulihkannya. Jumlah terpulihkan fair value less costs of disposal and its value in
merupakan jumlah yang lebih tinggi antara use. For the purposes of assessing impairment,
nilai wajar aset dikurangi biaya untuk assets are grouped at the lowest level for which
menjual dan nilai pakai aset. Dalam there is separately identifiable cash flows. Non-
menentukan penurunan nilai, aset financial assets other than goodwill that suffer
dikelompokkan pada tingkat yang paling impairment are reviewed for possible reversal
rendah dimana terdapat arus kas yang dapat of the impairment at each reporting date.
diidentifikasi. Aset non-keuangan selain
goodwill yang mengalami penurunan nilai
diuji untuk menentukan apakah terdapat
kemungkinan pemulihan penurunan nilai,
pada setiap tanggal pelaporan.
Page 49
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/38 Exhibit E/38
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
m. Penurunan nilai aset non-keuangan (selain m. Impairment of non-financial assets (excluding
aset pajak tangguhan) deferred tax assets)
PSAK No. 236, “Penurunan Nilai Aset”, SFAS No. 236, “Impairment of Assets”,
menetapkan prosedur-prosedur yang prescribes the procedures to be employed by an
diterapkan perusahaan agar aset dicatat tidak entity to ensure that its assets are carried at no
melebihi jumlah terpulihkannya. Suatu aset more than their recoverable amount. An asset
dicatat melebihi jumlah terpulihkannya jika is carried at more than its recoverable amount
jumlah tersebut melebihi jumlah yang akan if its carrying amount exceeds the amount to be
dipulihkan melalui penggunaan atau recovered through use or sale of the asset. If
penjualan aset. Pada kasus demikian, aset this is the case, the asset is described as
mengalami penurunan nilai dan pernyataan impaired and this revised SFAS requires the
ini mensyaratkan Grup mengakui rugi Group to recognize an impairment loss. This
penurunan nilai. PSAK yang direvisi ini juga revised SFAS also specifies when an entity
menentukan kapan perusahaan membalik should reverse an impairment loss and
suatu rugi penurunan nilai dan pengungkapan prescribes disclosures.
yang diperlukan.
Penerapan PSAK No. 236 tersebut The adoption of SFAS No. 236 required the
mengharuskan uji penurunan nilai bagi impairment test of goodwill at least once a year
goodwill minimal satu kali setiap tahun atau or more frequently when indications for
lebih sering bila ada indikasi penurunan nilai. impairment exist.
Grup menilai pada tiap tanggal pelaporan The Group assesses at each reporting date
apakah terdapat indikasi penurunan nilai whether there is any indication that an asset
pada aset. Apabila terdapat indikasi may be impaired. If any such indication exists,
penurunan nilai, atau ketika penilaian or when annual impairment assessment for an
penurunan nilai bagi aset secara tahunan asset is required, the Group makes an estimate
disyaratkan, Grup membuat estimasi nilai of the asset’s recoverable amount.
terpulihkan aset.
Suatu nilai terpulihkan aset adalah nilai yang An asset’s recoverable amount is the higher of
lebih tinggi dari nilai wajar aset atau unit an asset’s or cash-generating unit’s fair value
penghasil kas dikurangi biaya untuk menjual less costs to sell and its value in use and is
dan nilai pakainya dan ditentukan sebagai determined for an individual asset, unless the
suatu aset individual, kecuali aset tersebut asset does not generate cash inflows that are
tidak menghasilkan arus kas masuk yang largely independent of those from other assets.
sebagian besar independen dari aset lain.
Di dalam menilai nilai pakai, estimasi arus kas In assessing value in use, the estimated future
yang diharapkan diperoleh dari aset cash flows expected to be generated by the
didiskontokan terhadap nilai kininya dengan asset are discounted to their present value
menggunakan suku bunga diskonto sebelum using a pre-tax discount rate that reflects
pajak yang mencerminkan penilaian pasar kini current market assessments of the time value
terhadap nilai waktu uang dan risiko spesifik of money and the risks specific to the asset. In
aset. Di dalam menilai nilai wajar dikurangi assessing fair value less costs to sell, an
biaya untuk menjual, dibutuhkan model appropriate valuation model is used.
penilaian yang tepat.
Ketika nilai tercatat aset melebihi nilai Where the carrying amount of an asset exceeds
terpulihkannya, maka aset tersebut dicatat its recoverable amount, the asset is written
sebesar nilai terpulihkan. down to its recoverable amount.
Page 50
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/39 Exhibit E/39
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
m. Penurunan nilai aset non-keuangan (selain m. Impairment of non-financial assets (excluding
aset pajak tangguhan) (Lanjutan) deferred tax assets) (Continued)
Kerugian penurunan nilai diakui di dalam laba Impairment losses are recognized in profit or
rugi kecuali aset yang relevan dinilai pada loss unless the relevant asset is carried at a
jumlah yang direvaluasi, yang dalam hal ini revalued amount, in which case the impairment
kerugian penurunan nilai diperlakukan loss is treated as a revaluation decrease.
sebagai penurunan revaluasi.
Suatu penilaian dilakukan pada setiap tanggal An assessment is made at each reporting date
pelaporan sebagaimana apabila terdapat as to whether there is any indication that
segala indikasi bahwa kerugian penurunan previously recognized impairment losses may no
nilai yang diakui sebelumnya sudah tidak ada longer exist or may have decreased.
lagi atau mengalami penurunan.
Suatu kerugian penurunan nilai yang diakui A previously recognized impairment loss is
sebelumnya, dibalikkan nilainya jika terdapat reversed only if there has been a change in the
perubahan estimasi yang digunakan untuk estimates used to determine the asset’s
menentukan nilai terpulihkan aset sejak recoverable amount since the last impairment
pengakuan terakhir kerugian penurunan nilai. loss was recognized. If that is the case, the
Apabila demikian kondisinya, nilai tercatat carrying amount of the asset is increased to its
aset meningkat pada jumlah terpulihkannya. recoverable amount.
Kenaikan tersebut tidak dapat melebihi nilai That increase cannot exceed the carrying
tercatat yang telah ditentukan, penyusutan amount that would have been determined, net
bersih, tidak ada kerugian penurunan nilai of depreciation, had no impairment loss been
yang diakui sebelumnya. Pembalikkan nilai recognized previously. Such reversal is
tersebut diakui di dalam laba rugi kecuali aset recognized in profit or loss unless the asset is
tersebut diukur pada jumlah revaluasian, measured at revalued amount, in which case
yang dalam hal ini diperlakukan sebagai the reversal is treated as a revaluation
kenaikan revaluasi. increase.
n. Perpajakan n. Taxation
Beban pajak penghasilan terdiri dari pajak Income tax expense comprises current and
kini dan pajak tangguhan. Beban pajak deferred tax. Income tax expense is recognized
penghasilan diakui dalam laba rugi kecuali in profit or loss except to the extent that it
jika beban tersebut berkaitan dengan pos-pos relates to items recognized directly in equity,
yang diakui secara langsung dalam ekuitas, in which case it is recognized in other
dalam hal ini beban tersebut diakui dalam comprehensive income.
penghasilan komprehensif lain.
Pajak kini Current tax
Aset atau liabilitas pajak kini terdiri dari Current income tax assets or liabilities
liabilitas kepada, atau klaim dari Kantor comprise those obligations to, or claims from
Pelayanan Pajak terkait dengan periode Tax Authorities relating to the current and
pelaporan kini dan periode pelaporan prior reporting period, that are unpaid at the
sebelumnya, yang belum dibayar pada interim consolidated statements of financial
tanggal laporan posisi keuangan konsolidasian position date. They are calculated according to
interim. Pendapatan aset atau liabilitas pajak the tax rates and tax laws applicable to the
dihitung sesuai dengan tarif pajak dan fiscal periods to which they relate, based on the
ketentuan perpajakan yang berlaku pada taxable income for the period.
priode fiskal yang terkait, berdasarkan laba
kena pajak periode berjalan.
Semua perubahan aset atau liabilitas pajak All changes to current tax assets or liabilities
kini diakui sebagai komponen beban pajak are recognized as a component of income tax
penghasilan di dalam laporan laba rugi dan expense in the interim consolidated statements
penghasilan komprehensif lain konsolidasian of profit or loss and other comprehensive
interim. income.
Page 51
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/40 Exhibit E/40
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
n. Perpajakan (Lanjutan) n. Taxation (Continued)
Pajak tangguhan Deferred tax
Aset dan liabilitas pajak tangguhan diakui Deferred tax assets and liabilities are
atas perbedaan temporer antara basis recognized for temporary differences between
komersial dan basis fiskal aset dan liabilitas the financial and the tax bases of assets and
pada setiap tanggal pelaporan. liabilities at each of the reporting date.
Aset pajak tangguhan diakui bagi seluruh Deferred tax assets are recognized for all
perbedaan temporer yang dapat dikurangkan deductible temporary differences to the extent
yang memiliki kemungkinan tersedianya laba that it is probable that future taxable profit
kena pajak di masa depan terhadap will be available against which the deductible
perbedaan temporer yang dapat dikurangkan temporary difference can be utilized.
yang dapat diutilisasi.
Liabilitas pajak tangguhan diakui bagi seluruh Deferred tax liabilities are recognized for all
perbedaan kena pajak temporer. Manfaat taxable temporary differences. Future tax
pajak di masa depan, seperti saldo rugi fiskal benefits, such as the carry-forward of unused
yang belum digunakan juga diakui apabila tax losses, are also recognized to the extent
besar kemungkinan manfaat pajak tersebut that realization of such benefits is probable.
dapat direalisasi.
Jumlah tercatat aset pajak tangguhan The carrying amount of deferred tax assets is
ditelaah pada setiap tanggal laporan posisi reviewed at each interim consolidated
keuangan konsolidasian interim dan statements of financial position date and
diturunkan apabila laba fiskal mungkin tidak reduced to the extent that it is no longer
memadai untuk mengkompensasi sebagian probable that sufficient taxable profit will be
atau semua aset pajak tangguhan. Aset pajak available to allow all or part of the deferred tax
tangguhan yang belum diakui dinilai ulang assets to be utilized. Unrecognized deferred tax
pada setiap tanggal laporan posisi keuangan assets are reassessed at each interim
konsolidasian interim dan diakui sejauh yang consolidated statements of financial position
telah menjadi kemungkinan penghasilan kena date and are recognized to the extent that it
pajak di masa depan bahwa akan has become probable that future taxable
memungkinkan aset pajak tangguhan untuk income will allow the deferred tax asset to be
dipulihkan. recovered.
Jumlah aset atau liabilitas yang ditentukan The amount of the asset or liability is
dengan menggunakan tarif pajak yang determined using tax rates that have been
berlaku, atau secara substansial berlaku pada enacted, or substantively enacted by the
tanggal pelaporan dan diharapkan berlaku reporting date and are expected to apply when
pada saat liabilitas/(aset) pajak tangguhan the deferred tax liabilities/(assets) are
yang telah diselesaikan/(dipulihkan). settled/(recovered).
Aset dan liabilitas pajak tangguhan di saling Deferred tax assets and liabilities are offset
hapus apabila Grup memiliki hak legal yang when the Group has a legally enforceable right
dapat dipaksakan untuk saling hapus aset dan to offset current tax assets and liabilities.
liabilitas pajak kini.
Page 52
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/41 Exhibit E/41
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
o. Utang usaha dan lain-lain o. Trade and other payables
Utang usaha adalah kewajiban untuk Trade payables are obligations to pay for goods
membayar barang atau jasa yang telah or services that have been acquired in the
diterima dalam kegiatan usaha normal, dari ordinary course of business, from suppliers.
pemasok. Utang lain-lain adalah kewajiban Other payables are obligation to pay goods or
untuk membayar barang atau jasa yang services that have been acquired outside the
diperoleh di luar kegiatan usaha normal. ordinary course of business. Trade and other
Utang usaha dan lain-lain diklasifikasikan payables are classified as current liabilities if
sebagai liabilitas jangka pendek apabila payment is due within one year or less after the
pembayarannya jatuh tempo dalam waktu reporting date. If not, they are presented as
satu tahun atau kurang setelah tanggal non-current liabilities.
pelaporan. Jika tidak, utang tersebut
disajikan sebagai liabilitas jangka panjang.
p. Pinjaman p. Borrowings
Pada saat pengakuan awal, pinjaman diakui Borrowings are recognized initially at fair
sebesar nilai wajar, dikurangi dengan biaya- value, net of transaction costs incurred.
biaya transaksi yang terjadi. Selanjutnya, Borrowings are subsequently carried at
pinjaman diukur sebesar biaya perolehan amortized cost, any difference between the
diamortisasi, selisih antara penerimaan proceeds (net of transaction costs) and the
(dikurangi biaya transaksi) dan nilai redemption value is recognized in profit or loss
pelunasan dicatat pada laba rugi selama over the period of the borrowings using the
periode pinjaman dengan menggunakan effective interest method.
metode bunga efektif.
Biaya yang dibayar untuk memperoleh Fees paid on the establishment of loan facilities
fasilitas pinjaman diakui sebagai biaya are recognized as transaction costs of the loan
transaksi pinjaman sepanjang besar to the extent that it is probable that some or
kemungkinan sebagian atau seluruh fasilitas all of the facility will be drawdown. In this case,
akan ditarik. Dalam hal ini, biaya the fee is deferred until the drawdown occurs.
memperoleh pinjaman ditangguhkan sampai To the extent that there is no evidence that it
penarikan pinjaman terjadi. Sepanjang tidak is probable that some or all of the facility will
terdapat bukti bahwa besar kemungkinan be drawdown, the fee is capitalized as a pre-
sebagian atau seluruh fasilitas akan ditarik, payment for liquidity services and amortized
biaya memperoleh pinjaman dikapitalisasi over the period of the facility to which it
sebagai pembayaran di muka untuk jasa relates.
likuiditas dan diamortisasi selama periode
fasilitas yang terkait.
Pinjaman diklasifikasikan sebagai liabilitas Borrowings are classified as current liabilities
jangka pendek kecuali Grup memiliki hak unless the Group has a right to defer the
pada akhir periode pelaporan untuk settlement of the liability at the reporting date
menangguhkan pelunasan liabilitas selama for at least twelve months after the reporting
sekurang-kurangnya dua belas bulan setelah date.
periode pelaporan.
Page 53
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/42 Exhibit E/42
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
q. Biaya pinjaman q. Borrowing costs
Biaya pinjaman yang dapat diatribusikan Borrowing costs directly attributable to the
secara langsung dengan perolehan, acquisition, construction or production of an
konstruksi, atau produksi suatu aset yang asset that necessarily takes a substantial period
memerlukan waktu yang cukup lama agar siap of time to get ready for its intended use or sale
untuk digunakan atau dijual sesuai dengan are capitalized as part of the cost of the
maksudnya, dikapitalisasi sebagai bagian dari respective assets. Investment income earned on
biaya perolehan aset yang bersangkutan. the temporary investment of specific
Pendapatan investasi yang diperoleh dari borrowings pending their expenditure on
investasi sementara dari pinjaman tertentu qualifying assets is deducted from the
yang menunggu pengeluarannya untuk aset borrowing costs eligible for capitalization.
kualifikasian dikurangkan dari biaya pinjaman
yang memenuhi syarat untuk dikapitalisasi.
Semua biaya pinjaman lainnya dibebankan All other borrowing costs are expensed in the
pada periode terjadinya. Biaya pinjaman period they occur. Borrowing costs consist of
terdiri dari bunga dan biaya lain yang interest and other costs that the Company
dikeluarkan Perusahaan sehubungan dengan incurs in connection with the borrowing of
peminjaman dana. funds.
Kapitalisasi biaya pinjaman dimulai ketika Capitalization of borrowing costs commences
aktivitas untuk mempersiapkan aset when the activities to prepare the qualifying
kualifikasian agar dapat digunakan sesuai asset for its intended use are in progress and
dengan maksudnya sedang berlangsung dan the expenditures for the qualifying asset and
pengeluaran untuk aset kualifikasian serta the borrowing costs have been incurred.
biaya pinjaman telah terjadi. Kapitalisasi Capitalization of borrowing costs ceases when
biaya pinjaman dihentikan ketika secara substantially all the activities necessary to
substansial seluruh aktivitas yang diperlukan prepare the qualifying assets are substantially
untuk menyiapkan aset kualifikasian telah completed for their intended use.
selesai secara substansial untuk digunakan
sesuai dengan maksudnya.
r. Liabilitas imbalan pasca-kerja r. Post-employment benefits liability
Skema pensiun diklasifikasikan sebagai Pension schemes are classified as either defined
program iuran pasti atau program imbalan contribution plans or defined benefit plans,
pasti, tergantung pada substansi ekonomi dari depending on the economic substance of the
syarat dan kondisi utama program tersebut. plan as derived from its principal terms and
conditions.
Program iuran pasti adalah program pensiun A defined contribution plan is a pension plan
yang mewajibkan Grup membayar sejumlah under which the Group pays fixed contributions
iuran tertentu kepada entitas terpisah. Grup into a separate entity. The Group has no legal
tidak memiliki kewajiban hukum atau or constructive obligations to pay further
konstruktif untuk membayar iuran lebih contributions if the fund does not hold
lanjut jika entitas tersebut tidak memiliki sufficient assets to pay all employees the
aset yang cukup untuk membayar seluruh benefits relating to employee service in the
imbalan atas jasa yang diberikan pekerja current and prior periods.
pada periode berjalan dan periode-periode
sebelumnya.
Page 54
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/43 Exhibit E/43
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
r. Liabilitas imbalan pasca-kerja (Lanjutan) r. Post-employment benefits liability
(Continued)
Program imbalan pasti adalah program A defined benefit plan is a pension plan that is
pensiun yang bukan merupakan program iuran not a defined contribution plan. Typically,
pasti. Program imbalan pasti adalah program defined benefit plans define an amount of
pensiun yang menentukan jumlah imbalan pension benefit that an employee will receive
pensiun yang akan diterima seorang pekerja upon retirement, usually dependent on one or
pada saat pensiun, biasanya berdasarkan more factors such as age, years of service and
pada satu atau lebih faktor seperti usia, masa compensation.
kerja, dan kompensasi.
Grup memberikan imbalan pasti atas imbalan The Group provides defined benefit of post–
pasca-kerja untuk karyawan sesuai employment benefits to its employees in
dengan peraturan ketenagakerjaan pada accordance with the applicable manpower
hukum yang berlaku di Indonesia (“Peraturan regulations in Indonesia (the “Manpower
Ketenagakerjaan”) atau Peraturan Regulations”) or the Company Regulation (the
Perusahaan (“PP”), mana yang lebih tinggi. “CR”), whichever is higher.
Tidak terdapat pendanaan yang disisihkan No funding has been made to this defined
sehubungan dengan program imbalan pasti benefit plan.
yang direncanakan.
Metode penilaian aktuarial yang digunakan The actuarial valuation method used to
untuk menentukan nilai kini liabilitas imbalan determine the present value of the defined
pasti, beban jasa kini yang terkait, dan beban benefit liability, related current service costs
jasa lalu adalah metode Projected Unit and past service costs is the Projected Unit
Credit. Credit method.
Beban jasa kini, beban bunga, beban jasa lalu Current service costs, interest costs, vested
yang telah menjadi hak karyawan, dan past service costs, and effect of curtailment or
dampak kurtailmen atau penyelesaian (jika settlement (if any) are charged directly to the
ada) diakui pada laba rugi periode berjalan. current period profit or loss.
Beban jasa lalu yang belum menjadi hak Past service costs which are not yet vested and
karyawan dan keuntungan atau kerugian actuarial gains or losses arising from experience
aktuarial yang timbul dari penyesuaian atau adjustments or changes in actuarial
perubahan asumsi aktuarial diakui dalam assumptions recognized in other comprehensive
penghasilan komprehensif lain dan disajikan income and presented in the interim
dalam laporan laba rugi dan penghasilan consolidated statements of profit or loss and
komprehensif lain konsolidasian interim. other comprehensive income. Actuarial gains
Keuntungan dan kerugian aktuaria dan and losses and adjustments arising which are
penyesuaian yang timbul yang telah diakui recognized in other comprehensive income will
dalam penghasilan komprehensif lain akan be immediately recognized in retained
diakui segera dalam saldo laba. Keuntungan earnings. Actuarial gains and losses are not
dan kerugian aktuaria tidak direklasifikasi ke reclassified to profit or loss in subsequent
laba rugi pada periode berikutnya. periods.
Page 55
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/44 Exhibit E/44
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
r. Liabilitas imbalan pasca-kerja (Lanjutan) r. Post-employment benefits liability
(Continued)
Untuk program iuran pasti, Grup membayar For defined contribution plans, the Group pays
iuran untuk program jaminan hari tua dan contributions for old age protection and pension
jaminan pensiun yang dikelola oleh protection to the Government administered
Pemerintah, dengan dasar kewajiban. Grup pension insurance plans on a mandatory basis.
tidak memiliki kewajiban membayar lebih The Group has no further payment obligations
lanjut jika iuran tersebut telah dibayarkan. once the contributions have been paid. The
Iuran tersebut diakui sebagai beban imbalan contributions are recognized as employee
kerja ketika jatuh tempo. Iuran dibayar di benefit expenses when they become due.
muka diakui sebagai aset sepanjang Prepaid contributions are recognized as an asset
pengembalian dana atau pengurangan to the extent that a cash refund or reduction in
pembayaran masa depan dimungkinkan. future payments is available.
s. Provisi, liabilitas kontinjensi dan aset s. Provision, contingent liabilities and
kontinjensi contingent assets
Liabilitas kontinjensi tidak diakui di dalam Contingent liabilities are not recognized in the
laporan keuangan konsolidasian interim. interim consolidated financial statements.
Liabilitas kontinjensi diungkapkan di dalam They are disclosed in the notes to the interim
catatan atas laporan keuangan konsolidasian consolidated financial statements unless the
interim kecuali kemungkinan arus keluar possibility of an outflow of resources
sumber daya ekonomi adalah kecil. embodying economic benefits is remote.
Aset kontinjensi tidak diakui di dalam laporan Contingent assets are not recognized in the
keuangan konsolidasian interim, namun interim consolidated financial statements but
diungkapkan di dalam catatan atas laporan are disclosed in the notes to the interim
keuangan konsolidasian interim jika terdapat consolidated financial statements when an
kemungkinan suatu arus masuk manfaat inflow of economic benefits to the Group is
ekonomis mengalir ke dalam Grup. probable.
Provisi diakui ketika Grup memiliki kewajiban Provisions are recognized when the Group has a
legal maupun konstruktif sebagai hasil legal or constructive obligation as a result of
peristiwa lalu, yaitu kemungkinan besar arus past events, it is more likely than not that an
keluar sumber daya ekonomi diperlukan outflow of resources will be required to settle
untuk menyelesaikan kewajiban dan suatu the obligation and a reliable estimate of the
estimasi terhadap jumlah dapat dilakukan. amount can be made.
Provisi dikaji pada akhir tiap periode Provisions are reviewed at the end of each
pelaporan dan disesuaikan untuk reporting period and adjusted to reflect the
mencerminkan estimasi terbaik. Jika arus current best estimate. If it is no longer
keluar sumber daya untuk menyelesaikan probable that an outflow of resources will be
kewajiban kemungkinan besar tidak terjadi, required to settle the obligation, the provision
maka provisi dibatalkan. is reversed.
Apabila dampak nilai waktu uang adalah If the effect of the time value of money is
material, maka provisi didiskontokan dengan material, provisions are discounted using a
menggunakan tarif sebelum pajak, jika lebih current pretax rate, where appropriate, to
tepat, untuk mencerminkan risiko spesifik reflect the risk specific to the liability.
liabilitas.
Kenaikan provisi terkait dengan berlalunya The increase in the provision due to the passage
waktu diakui sebagai biaya keuangan, ketika of time is recognized as a finance cost, when
pendiskontoan digunakan. discounting is used.
Page 56
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/45 Exhibit E/45
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
s. Provisi, liabilitas kontinjensi dan aset s. Provision, contingent liabilities and
kontinjensi (Lanjutan) contingent assets (Continued)
- Reklamasi, rehabilitasi dan penutupan - Reclamation, rehabilitation and mine
tambang closure
Grup mencatat nilai kini taksiran biaya The Group recognizes the present value of
atas kewajiban hukum dan kewajiban estimated costs of legal and constructive
konstruktif yang disyaratkan untuk obligations required to restore the condition
memulihkan kondisi wilayah of mining area caused by mining operations
pertambangan akibat operasi in the period in which the obligation is
pertambangan pada periode dimana incurred. The reclamation and mine closure
kewajiban tersebut terjadi. Aktivitas activities include dismantling and removing
reklamasi dan penutupan tambang structures, rehabilitating mines and tailing
meliputi pembongkaran dan pemindahan dams, dismantling operating facilities,
bangunan, rehabilitasi pertambangan closure of plant and waste site, and
dan bendungan tailing, pembongkaran restoration, reclamation and re-vegetation
fasilitas operasi, penutupan pabrik dan of affected areas.
lokasi penampungan limbah, dan
restorasi, reklamasi dan penanaman
kembali di lokasi-lokasi yang terganggu.
Kewajiban pada umumnya timbul pada The obligation normally arises when the
saat suatu aset dipasang atau asset is installed or the ground/environment
tanah/lingkungan terganggu di area is disturbed in mining operations area. At
operasi pertambangan. Pada saat the initial recognition of the liability, the
pengakuan awal kewajiban, nilai kini present value of the estimated costs is
dari estimasi biaya dikapitalisasi dengan capitalized by increasing the carrying
meningkatkan nilai tercatat aset amount of the related mining assets to the
pertambangan terkait sepanjang biaya extent that it was incurred as a result of the
tersebut terjadi sebagai akibat aktivitas development or construction activities in
pengembangan atau konstruksi di area the exploration and development mining
tambang eksplorasi dan pengembangan. areas.
Kewajiban reklamasi dan penutupan Any reclamation and mine closure
tambang yang timbul pada tahap obligations that arise through the
produksi dibebankan saat terjadinya. production phase are expensed as incurred.
Dengan berlalunya waktu, kewajiban Over time, the discounted liability is
yang didiskonto akan meningkat karena increased for the change in present value
perubahan nilai kini berdasarkan tingkat based on the discount rates that reflect
diskonto yang mencerminkan nilai pasar current market assessment and the risk
saat ini dan risiko yang melekat specific to the liability. The periodic
pada kewajiban tersebut. Peningkatan unwinding of the discount is recognized in
kewajiban yang mencerminkan the consolidated statements of profit or loss
berlalunya waktu diakui dalam laporan and other comprehensive income as a
laba rugi dan penghasilan komprehensif finance cost.
lain konsolidasian sebagai biaya
keuangan.
Tambahan gangguan atau perubahan Additional disturbances or changes in
biaya reklamasi dan penutupan tambang reclamation and mine closure costs are
diakui sebagai penambahan atau recognized as additions or changes to the
pembebanan pada aset terkait dan corresponding assets and reclamation and
liabilitas reklamasi dan penutupan mine closure liability when they occur.
tambang pada saat terjadinya.
Page 57
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/46 Exhibit E/46
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
s. Provisi, liabilitas kontinjensi dan aset s. Provision, contingent liabilities and
kontinjensi (Lanjutan) contingent assets (Continued)
- Reklamasi, rehabilitasi dan penutupan - Reclamation, rehabilitation and mine
tambang (Lanjutan) closure (Continued)
Perubahan pada estimasi biaya masa Changes to estimated future costs are
depan diakui dalam laporan posisi recognized in the interim consolidated
keuangan konsolidasian interim baik statements of financial position by either
dengan menaikkan atau menurunkan increasing or decreasing the reclamation and
liabilitas reklamasi dan penutupan mine closure liability and the related asset
tambang serta asset terkait apabila if the estimated costs of reclamation and
estimasi biaya reklamasi dan penutupan mine closure were originally recognized as
tambang pada awalnya diakui sebagai part of an asset measured in accordance with
bagian dari aset yang diukur sesuai SFAS No. 216, “Property, plant and
dengan PSAK No. 216, “Aset tetap”. equipment”. Any reduction in the
Setiap penurunan tambang serta reclamation and mine closure liability and
pengurangan aset terkait, tidak boleh deduction from the related asset may not
melebihi nilai tercatat aset tersebut. exceed the carrying amount of that asset. If
Bila melebihi nilai tercatat aset terkait, it does exceed the carrying value of the
maka kelebihan tersebut diakui segera related asset, such excess is immediately
dalam laporan laba rugi dan penghasilan recognized in the interim consolidated
komprehensif lain konsolidasian interim. statements of profit or loss and other
comprehensive income.
Apabila perubahan dalam estimasi If the change in estimates results in an
mengakibatkan kenaikan dalam liabilitas increase in the reclamation and mine closure
reklamasi dan penutupan tambang serta liability and, an addition to the carrying
penambahan pada nilai tercatat aset value of the related asset, the Group
terkait, Grup melakukan pengujian assesses the impairment, if there is
penurunan nilai bila terdapat indikasi indication of impairment of such assets.
penurunan nilai aset terkait tersebut.
t. Laba/(rugi) per saham t. Earnings/(loss) per share
1) Laba per saham dasar 1) Basic earnings per share
Laba/(rugi) per saham dasar dihitung Basic earnings/(loss) per share is calculated
dengan membagi laba/(rugi) periode by dividing profit/(loss) for the period
berjalan yang diatribusikan kepada attributable to the equity holders of the
pemegang saham entitas induk dengan parent entity by the weighted-average
jumlah rata-rata tertimbang saham number of ordinary shares outstanding
biasa yang beredar pada periode during the period. For the purpose of
berjalan. Dalam tujuan perhitungan earnings per share, the potential ordinary
laba per saham, saham biasa yang akan shares that would be mandatorily issued on
diterbitkan sehubungan dengan konversi conversion are included in the weighted
dari instrumen yang wajib dikonversi average number of ordinary shares used in
dimasukkan dalam penghitungan laba the calculation of basic earnings per share
per saham dasar sejak tanggal kontrak from the date of instrument, since their
berlaku. issue is solely dependent on the passage of
time.
2) Laba per saham dilusian 2) Diluted earnings per share
Laba/(rugi) per saham dilusian dihitung Diluted earnings/(loss) per share are
dengan membagi laba/(rugi) periode calculated by dividing profit/(loss) for the
berjalan yang diatribusikan kepada period attributable to owners of the parent
pemilik entitas induk dengan jumlah entity by the weighted-average number
rata-rata tertimbang saham biasa telah outstanding as adjusted for the effect of
disesuaikan dengan dampak dari semua all dilutive potential ordinary shares.
efek berpotensi saham biasa yang
dilutif.
Page 58
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/47 Exhibit E/47
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
u. Sewa u. Leases
Pada tanggal permulaan suatu kontrak, Grup At the inception of a contract, the Group
menilai apakah kontrak merupakan, atau assesses whether the contract is, or contains a
mengandung sewa. Suatu kontrak lease. A contract is, or contains a lease if the
merupakan, atau mengandung sewa jika contract conveys the right to control the use of
kontrak tersebut memberikan hak untuk an identified asset for a period of time in
mengendalikan penggunaan aset exchange for consideration.
identifikasian selama suatu jangka waktu
untuk dipertukarkan dengan imbalan.
Untuk menilai apakah suatu kontrak To assess whether a contract conveys the right
memberikan hak untuk mengendalikan suatu to control the use of an identified asset, the
aset identifikasian, Grup menilai apakah: Group assesses whether:
• Kontrak melibatkan penggunaan suatu • The contract involves the use of an
aset identifikasian – ini dapat ditentukan identified asset – this may be specified
secara eksplisit atau implisit dan secara explicitly or implicitly and should be
fisik dapat dibedakan atau mewakili physically distinct or represent
secara substansial seluruh kapasitas aset substantially all of the capacity of a
yang secara fisik dapat dibedakan. Jika physically distinct asset. If the supplier has
pemasok memiliki hak substitusi the substantive substitution right, then the
substantif, maka aset tersebut tidak asset is not identified;
teridentifikasi;
• Grup memiliki hak untuk mendapatkan • The Group has the right to obtain
secara subtansial seluruh manfaat substantially all the economic benefits
ekonomi dari penggunaan aset from use of the asset throughout the period
identifikasian; dan of use; and
• Grup memiliki hak untuk mengarahkan • The Group has the right to direct the use of
penggunaan aset identifikasian. Grup the identified asset. The Group has this
memiliki hak ini ketika hak pengambilan right when it has the decision-making rights
keputusan yang paling relevan untuk that are most relevant to changing how and
mengubah bagaimana dan untuk tujuan for what purpose the asset is used. In
apa aset tersebut digunakan. Dalam certain circumstances where all the
kondisi tertentu di mana semua decisions about how and for what purpose
keputusan tentang bagaimana dan untuk the asset is used are predetermined, the
tujuan apa aset digunakan telah Group has the right to direct the use of the
ditentukan sebelumnya, Grup memiliki asset if either:
hak untuk mengarahkan penggunaan
aset tersebut jika:
- Grup memiliki hak untuk - The Group has the right to operate the
mengoperasikan aset; dan asset; and
- Grup telah mendesain aset dengan - The Group has designed the asset in a
cara menetapkan sebelumnya way that predetermined how and for
bagaimana dan untuk tujuan apa what purpose it will be used.
aset akan digunakan selama periode
penggunaan.
Pada tanggal insepsi atau pada saat penilaian At inception or on re-assessment of a contract
kembali suatu kontrak yang mengandung that contains a lease component, the Group
suatu komponen sewa, Grup mengalokasikan allocates consideration in the contract to each
imbalan dalam kontrak ke masing-masing lease component on the basis of their relative
komponen sewa berdasarkan harga tersendiri stand-alone prices.
relatif dari komponen sewa.
Pada pengakuan awal, Grup mencatat aset At initial recognition, the Group recorded the
hak-guna dan liabilitas sewa. right-of-use asset and lease liability.
Page 59
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/48 Exhibit E/48
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
u. Sewa (Lanjutan) u. Leases (Continued)
Aset hak-guna diukur pada biaya perolehan, The right-of-use asset is initially measured at
dimana meliputi jumlah pengukuran awal cost, which comprises the initial amount of the
liabilitas sewa yang disesuaikan dengan lease liability adjusted for any lease payment
pembayaran sewa yang dilakukan pada atau made at or before the commencement date,
sebelum tanggal permulaan, ditambah plus any initial direct cost incurred and an
dengan biaya langsung awal yang dikeluarkan estimate of costs to dismantle and remove the
dan estimasi biaya yang akan dikeluarkan underlying asset or to restore the underlying
untuk membongkar dan memindahkan aset asset to the condition required by the terms
pendasar atau untuk merestorasi aset and conditions of the lease, less any lease
pendasar sesuai kondisi yang disyaratkan dan incentives received.
ketentuan sewa, dikurangi dengan insentif
sewa yang diterima.
Jika sewa mengalihkan kepemilikan aset If the lease transfers ownership of the
pendasar kepada penyewa pada akhir masa underlying asset to the lessee by the end of the
sewa atau jika biaya perolehan aset hak-guna lease term, or if the cost of the right-of-use
merefleksikan penyewa akan mengeksekusi asset reflects that the lessee will exercise a
opsi beli, maka penyewa mendepresiasi aset purchase option, the right-of-use asset should
hak-guna dari tanggal permulaan hingga akhir be depreciated from the commencement date
umur manfaat aset pendasar. Jika tidak, to the end of the useful life of the underlying
maka penyewa mendepresiasi aset hak-guna asset. Otherwise, the right-of-use asset should
dari tanggal permulaan hingga tanggal yang be depreciated from the commencement date
lebih awal antara akhir umur manfaat aset to the earlier of the end of the useful life of
hak-guna atau akhir masa sewa. the right-of-use asset or the end of the lease
term.
Aset hak-guna umumnya disusutkan Right-of-use assets are generally depreciated
sepanjang waktu yang lebih pendek antara over the shorter of the asset’s useful life and
lama masa manfaat aset dan jangka waktu the lease term on a straight-line basis. If the
sewa menggunakan metode garis lurus. Jika Group is reasonably certain to exercise a
Grup cukup yakin untuk melaksanakan opsi purchase option, the right-of-use asset is
pembelian, aset hak-guna disusutkan selama depreciated over the underlying asset’s useful
masa manfaat aset yang mendasarinya. Aset life. Right-of-use assets, except for certain
hak-guna, kecuali alat berat tertentu dengan heavy equipment with purchase option, are
opsi beli, disusutkan hingga mencapai generally depreciated using the straight-line
estimasi nilai sisa menggunakan metode garis method to their residual values over their
lurus selama estimasi masa manfaatnya atau estimated useful lives or lease term as follows:
jangka waktu sewa sebagai berikut:
Tahun/Years
Tanah 10 Land
Ruang kantor 3-5 Office spaces
Kendaraan 1-8 Vehicles
Mesin dan peralatan 8 Machineries and equipment
Alat berat 1-8 Heavy equipment
Alat berat tertentu disusutkan atas dasar Certain heavy equipment are depreciated using
penggunaan jam kerja selama estimasi masa hourly utilization basis over their estimated
manfaatnya. useful lives.
Page 60
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/49 Exhibit E/49
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
u. Sewa (Lanjutan) u. Leases (Continued)
Liabilitas sewa awalnya diukur pada nilai kini The lease liability is initially measured at the
atas pembayaran sewa yang belum dibayar present value of the lease payments that are
pada tanggal permulaan, didiskontokan not yet paid at the commencement date,
menggunakan suku bunga implisit dalam sewa discounted using the interest rate implicit in
atau, jika suku bunga tersebut tidak dapat the lease or, if that rate cannot be readily
ditentukan, digunakan suku bunga pinjaman determined, the Group’s incremental
inkremental Grup. borrowing rate.
Pembayaran sewa yang termasuk dalam Lease payments included in the measurement
pengukuran liabilitas sewa meliputi: of the lease liability comprise the following:
• Pembayaran tetap, termasuk • Fixed payments, including in-substance
pembayaran tetap secara-substansi; fixed payments;
• Pembayaran sewa variabel yang • Variable lease payments that depend on an
bergantung pada suatu indeks atau suku index or a rate, initially measured using
bunga, yang pada awalnya diukur the index or rate as at the commencement
dengan menggunakan indeks atau suku date;
bunga pada tanggal permulaan;
• Jumlah yang diperkirakan akan • Amounts expected to be payable under a
dibayarkan dalam jaminan nilai residual value guarantee;
residual;
• Harga eksekusi opsi beli dimana Grup • The exercise price under a purchase option
cukup pasti untuk mengeksekusi opsi that the Group is reasonably certain to
tersebut, pembayaran sewa dalam exercise, lease payments in an optional
periode perpanjangan opsional jika Grup renewal period if the Group is reasonably
cukup pasti untuk mengeksekusi opsi certain to exercise an extension option;
perpanjangan; dan and
• Penalti untuk penghentian dini dari • Penalties for early termination of a lease
sewa kecuali jika Grup cukup pasti untuk unless the Group is reasonably certain not
tidak mengakhiri lebih dini. to terminate early.
Liabilitas sewa diukur kembali ketika ada Lease liability remeasured when there is a
perubahan pembayaran sewa masa depan change in future lease payments arising from
yang timbul dari perubahan indeks atau suku a change in an index or rate, if there is a
bunga, jika ada perubahan estimasi Grup atas change in the Group’s estimate of the amount
jumlah yang diperkirakan akan dibayar dalam expected to be payable under a residual value
jaminan nilai residual, atau jika Grup guarantee, or if the Group changes its
mengubah penilaiannya apakah akan assessment of whether it will exercise a
mengeksekusi opsi beli, perpanjangan atau purchase, extension or termination option.
penghentian.
Ketika liabilitas sewa diukur kembali dengan When the lease liability is remeasured in this
cara ini, penyesuaian terkait dilakukan way, a corresponding adjustment is made to
terhadap jumlah tercatat aset hak-guna, the carrying amount of the right-of-use assets,
atau dicatat dalam laba rugi jika jumlah or is recorded in profit or loss if the carrying
tercatat aset hak-guna telah berkurang amount of the right-of-use asset has been
menjadi nol. reduced to zero.
Page 61
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/50 Exhibit E/50
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
u. Sewa (Lanjutan) u. Leases (Continued)
Sewa jangka pendek dan sewa aset bernilai Short-term leases and leases of low-value
rendah assets
Grup memilih untuk tidak mengakui aset hak- The Group has elected not to recognize right-
guna dan liabilitas sewa untuk sewa jangka- of-use assets and lease liabilities for short-
pendek yang memiliki masa sewa 12 bulan term leases that have a lease term of
atau kurang dan sewa atas aset bernilai- 12 months or less and leases of low-value
rendah. Grup mengakui pembayaran sewa assets. The Group recognizes the lease
terkait dengan sewa ini sebagai beban payments associated with these leases as an
dengan dasar garis-lurus selama masa sewa. expense on a straight-line basis over the lease
term.
v. Pengakuan pendapatan dan beban v. Revenue and expense recognition
Pengakuan pendapatan Revenue recognition
Sesuai dengan penerapan PSAK No. 115, Related to implementation of SFAS No. 115,
“Pendapatan dari Kontrak dengan “Revenue from Contracts with Customers”, the
Pelanggan”, Grup melakukan 5 (lima) langkah Group has performed the following 5 (five)
analisa berikut dalam menentukan steps of assessment to recognize its revenue:
pengakuan pendapatannya:
• Mengidentifikasi kontrak dengan • Identify contracts with customers;
pelanggan;
• Mengidentifikasi kewajiban di dalam • Identify performance obligations in
kontrak terkait penyerahan barang atau contract in relation to the transfer
jasa yang memiliki karateristik; distinctive goods or services;
• Menentukan jumlah imbalan yang berhak • Determine the consideration amount for
diperoleh Grup sebagai kompensasi atas the Group which expected to be entitled in
penyerahan barang atau jasa kepada exchange for transferring goods or services
pelanggan; to customer;
• Mengalokasikan harga transaksi atau • Allocate the transaction or consideration
imbalan tersebut ke dalam setiap prices to each performance obligation on
kewajiban pelaksanaan dengan the basis of the relative selling prices from
menggunakan dasar harga jual dari setiap each goods or services in the contract;
barang atau jasa yang terdapat di dalam
kontrak;
• Mengakui pendapatan saat kewajiban • Recognize revenue when the performance
pelaksanaan telah dipenuhi baik pada obligation is satisfied either at a point in
suatu titik waktu atau sepanjang waktu time or over time.
tertentu.
Pendapatan atas penjualan barang atau jasa Revenue from sales of goods or services is
diakui pada suatu titik waktu dengan recognized at a point in time with the
pertimbangan bahwa pelanggan telah consideration that the customers have controls
memiliki kontrol atas barang secara legal dan over the goods in legal title and physical or
fisik atau manfaat atas jasa yang diberikan; benefits over the services performed; the
Grup memiliki hak kini atas pembayaran Group has a right to receive payment of the
barang atau jasa. goods or services.
Pembayaran harga transaksi berbeda untuk Payment of the transaction price is different
setiap kontrak. Aset kontrak diakui setelah for each contract. A contract asset is
imbalan yang dibayarkan oleh pelanggan recognized once the consideration paid by the
kurang dari saldo kewajiban pelaksanaan customer is less than the balance of the
yang telah dipenuhi. Liabilitas kontrak diakui performance obligation which has been
setelah imbalan yang dibayarkan oleh satisfied. A contract liability is recognized once
pelanggan lebih dari saldo kewajiban the consideration paid by the customer is more
pelaksanaan yang telah dipenuhi. than the balance of the performance obligation
which has been satisfied.
Page 62
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/51 Exhibit E/51
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
v. Pengakuan pendapatan dan beban v. Revenue and expense recognition
(Lanjutan) (Continued)
Pengakuan pendapatan (Lanjutan) Revenue recognition (Continued)
Grup tidak memperkirakan adanya kontrak di The Group does not expect to have any
mana jangka waktu antara pengalihan barang contracts where the period between the
atau jasa yang dijanjikan kepada pelanggan transfer of the promised goods or services to
dan pembayaran oleh pelanggan melebihi the customer and payment by the customer
satu tahun. Akibatnya, Grup tidak exceeds one year. As a consequence, the Group
menyesuaikan harga transaksi apa pun terkait does not adjust any of the transaction prices
dengan nilai waktu uang. for the time value of money.
Pengakuan beban Expense recognition
Beban dari kontrak dengan pelanggan Expenses from contracts with customers
Biaya yang secara langsung berhubungan The costs that directly relate to the contract
dengan kontrak, menghasilkan sumber daya generate resources to satisfy the contract
untuk memenuhi kontrak (“biaya untuk (“cost to fulfil”) or are incremental to
memenuhi”) atau penambahan untuk obtaining a contract (“cost to obtain”) and are
mendapatkan kontrak (“biaya untuk expected to be recovered. These costs are
memperoleh”) dan diharapkan dapat therefore eligible for capitalization under
dipulihkan. Beban tersebut dengan demikian SFAS No. 115 and recognized as assets. Such
memenuhi syarat kapitalisasi berdasarkan cost will be amortized on a systematic basis
PSAK No. 115 dan diakui sebagai aset. Beban that is consistent with the transfer of the
tersebut diamortisasi dengan cara sistematis goods or services to which such asset relates.
sejalan dengan penyerahan barang atau jasa
yang terkait dengan aset tersebut.
Beban-beban lainnya Other expenses
Beban diakui pada saat terjadinya (dasar Expenses are recognized when incurred
akrual). (accrual basis).
w. Instrumen keuangan derivatif dan aktivitas w. Derivative financial instruments and
lindung nilai hedging activities
Instrumen keuangan derivatif pada awalnya Derivative financial instruments are initially
diakui sebesar nilai wajar tanggal kontrak recognized at fair value on the date on which
derivatif dimulai dan selanjutnya dinilai a derivative contract is entered into and are
kembali sebesar nilai wajarnya. Metode subsequently remeasured at their fair values.
pengakuan keuntungan atau kerugian yang The method of recognizing the resulting gain
terjadi tergantung apakah derivatif tersebut or loss depends on whether the derivative is
merupakan instrumen lindung nilai dan jika designated as a hedging instrument and, if so,
demikian sifat objek yang dilindungi nilainya. on the nature of the item being hedged. The
Grup mengelompokkan derivatif tertentu Group designates certain derivatives as either
sebagai (a) lindung nilai atas nilai wajar aset (a) hedges of the fair value of recognised
atau liabilitas yang diakui atau komitmen assets or liabilities or a firm commitment (fair
pasti yang belum diakui (lindung nilai wajar); value hedge); or (b) hedges of a particular risk
atau (b) lindung nilai risiko tertentu yang associated with a recognised asset or liability
terkait dengan aset atau liabilitas atau or a highly probable forecast transaction (cash
transaksi yang diperkirakan kemungkinan flow hedge).
besar terjadi (lindung nilai arus kas).
Page 63
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/52 Exhibit E/52
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
w. Instrumen keuangan derivatif dan aktivitas w. Derivative financial instruments and
lindung nilai (Lanjutan) hedging activities (Continued)
Pada saat terjadinya transaksi, Grup At the inception of the transaction, the Group
mendokumentasi hubungan antara instrumen documents the relationship between hedging
lindung nilai dan item yang dilindung nilai, instruments and hedging items, as well as its
juga tujuan manajemen risiko dan strategi risk management objectives and the strategy
yang diterapkan dalam melakukan berbagai for undertaking hedging transactions. The
macam transaksi lindung nilai. Grup juga Group also documents its assessment, both at
mendokumentasikan penilaiannya, pada saat the hedge inception and on an ongoing basis,
terjadinya dan secara berkesinambungan, of whether the derivatives used in hedging
apakah derivatif yang digunakan untuk transactions are highly effective in offsetting
transaksi lindung nilai memiliki efektivitas changes in the fair value of or the cash flow
yang tinggi dalam rangka saling hapus from hedged items.
perubahan nilai wajar atau arus kas item
yang dilindung nilai.
Nilai penuh derivatif lindung nilai The full value of a hedging derivative is
dikelompokkan sebagai aset tidak lancar atau classified as a non-current asset or liability
liabilitas jangka panjang apabila jatuh tempo when the remaining maturity of the hedged
item yang dilindung nilai tersebut melebihi item is more than 12 months and as a current
12 bulan dan sebagai aset lancar atau asset or liability when the remaining maturity
liabilitas jangka pendek apabila jatuh tempo of the hedged item is less than 12 months from
item lindung nilai tersebut kurang dari 12 the reporting date.
bulan dari tanggal pelaporan.
Bagian efektif perubahan nilai wajar derivatif The effective portion of changes in the fair
yang ditetapkan dan memenuhi kriteria value of derivatives that are designated and
sebagai lindung nilai arus kas, diakui dalam qualify as cash flow hedges is recognised in
penghasilan komprehensif lain. Keuntungan other comprehensive income. The gain or loss
atau kerugian yang terkait bagian yang tidak relating to the ineffective portion is
efektif diakui dalam laba rugi. recognised immediately in profit or loss.
Jumlah yang diakumulasikan dalam Amounts accumulated in other comprehensive
penghasilan komprehensif lain di ekuitas income within equity are reclassified to profit
direklasifikasi ke laba rugi pada saat item or loss in the period when the hedged item
lindung nilai mempengaruhi laba rugi. affects profit or loss. The gain or loss relating
Keuntungan atau kerugian terkait bagian to the effective portion of the cash flow hedge
efektif lindung nilai arus kas diakui dalam is recognised in profit or loss in the same line
laba rugi, di baris yang sama dengan item as the hedged item to which it relates.
lindung nilai.
Ketika instrumen lindung nilai kadaluwarsa When a hedging instrument expires or is sold,
atau dijual, atau ketika lindung nilai tidak or when a hedge no longer meets the criteria
lagi memenuhi kriteria akuntansi lindung for hedge accounting, any cumulative gain or
nilai, keuntungan atau kerugian kumulatif loss existing in equity at that time remains in
yang ada di ekuitas saat itu tetap berada di equity and is recognised when the forecast
bagian ekuitas dan diakui pada saat prakiraan transaction is ultimately recognised in profit
transaksi terjadi dalam laba rugi. Apabila or loss. When a forecast transaction is no
prakiraan transaksi tidak lagi diharapkan longer expected to occur, the cumulative gain
akan terjadi, keuntungan atau kerugian or loss that was reported in equity is
kumulatif yang telah dicatat di bagian immediately transferred to profit or loss.
ekuitas segera dialihkan dalam laba rugi.
Perubahan nilai wajar dari derivatif yang Changes in the fair value of any derivative
tidak ditetapkan, atau tidak memenuhi instruments that are not designated as, or do
kriteria untuk, akuntansi lindung nilai diakui not qualify for, hedge accounting are
secara langsung dalam laba rugi. recognized immediately in profit or loss.
Page 64
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/53 Exhibit E/53
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
x. Distribusi dividen x. Dividend distribution
Distribusi dividen kepada pemilik Perusahaan Dividend distribution to the Company’s
diakui sebagai liabilitas dalam laporan shareholders is recognized as liability in the
keuangan konsolidasian interim Grup pada Group’s interim consolidated financial
periode dimana dividen telah disetujui oleh statements in the period in which the
pemegang saham Perusahaan. dividends are approved by the Company’s
shareholders.
y. Segmen operasi y. Operating segment
Segmen operasi adalah suatu komponen dari An operating segment is a component of an
entitas: entity:
a. Yang terlibat dalam aktivitas bisnis yang a. That engages in business activities from
mana memperoleh pendapatan dan which it may earn revenues and incur
menimbulkan beban (termasuk expenses (including revenue and expenses
pendapatan dan beban terkait dengan related to transactions between different
transaksi dengan komponen lain dari components within the same entity);
entitas yang sama);
b. Hasil operasinya dikaji ulang secara b. Whose operating results are regularly
regular oleh pengambil keputusan reviewed by the entity’s chief operating
operasional untuk membuat keputusan decision-maker to make decisions about
tentang sumber daya yang dialokasikan resources to be allocated to the segment
pada segmen tersebut dan menilai and to assess its performance; and
kinerjanya; dan
c. Tersedia informasi keuangan yang dapat c. For which discrete financial information is
dipisahkan. available.
Grup melakukan segmentasi pelaporan The Group segments its financial reporting
berdasarkan informasi keuangan yang based on the financial information used by the
digunakan oleh pengambil keputusan chief operating decision-maker in evaluating
operasional dalam mengevaluasi kinerja the performance of segments and in the
segmen dan menentukan alokasi sumber allocation of resources. The segments are
daya yang dimilikinya. Segmentasi based on the activities of each of the operating
berdasarkan aktivitas dari setiap kegiatan legal entities within the Group.
operasi entitas legal di dalam Grup.
Page 65
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/54 Exhibit E/54
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
(Lanjutan) (Continued)
z. Kombinasi bisnis entitas sepengendali z. Business combinations of entities under
common control
Kombinasi bisnis entitas sepengendali Business combinations of entities under
dibukukan menggunakan metode penyatuan common control are accounted for using the
kepemilikan (pooling-of-interest). pooling-of-interests method.
Selisih antara harga pengalihan dengan nilai The difference between the consideration
buku setiap transaksi restrukturisasi antara received and the carrying amount of each
entitas sepengendali dibukukan sebagai restructuring transaction among entities under
bagian tambahan modal disetor dalam bagian common control is recorded as part of
ekuitas di laporan posisi keuangan additional paid-in capital in the equity section
konsolidasian interim. of the interim consolidated statements of
financial position.
Grup sebagai entitas penerima menyajikan The Group as the receiving company presents
laporan keuangan konsolidasian untuk consolidated financial statements for the
periode terjadinya kombinasi bisnis entitas period in which the business combination of
sepengendali dan periode komparatifnya entities under common control occurs and its
seolah-olah kombinasi tersebut telah terjadi comparative periods as if the business
sejak awal periode saat entitas yang combination had occurred from the beginning
berkombinasi berada dalam sepengendalian, of the period when the combining entities
kecuali tidak praktis. were under common control, unless it is
impracticable.
aa. Peristiwa setelah periode pelaporan aa. Events after the reporting period
Peristiwa setelah periode pelaporan yang Events after the reporting period that provide
memberikan bukti kondisi yang ada pada evidence of conditions that existed at the end
akhir periode pelaporan (adjusting events) of the reporting period (adjusting events) are
tercermin dalam laporan keuangan reflected in the interim consolidated financial
konsolidasian interim. Peristiwa periode statements. Events after the reporting period
pelaporan yang tidak berdampak pada that are not adjusting events are disclosed in
laporan keuangan konsolidasian interim the notes to the interim consolidated financial
diungkapkan dalam catatan atas laporan statements when material.
keuangan konsolidasian interim apabila
jumlahnya material.
Page 66
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/55 Exhibit E/55
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian The preparation of the Group’s interim
interim Grup mensyaratkan penggunaan estimasi consolidated financial statements requires the use
akuntansi kritikal tertentu. Penyajian laporan of certain critical accounting estimates. It also
keuangan konsolidasian interim tersebut juga requires the management to exercise judgement in
mensyaratkan manajemen untuk applying the Group’s accounting policies. The areas
mempertimbangkan penerapan kebijakan where significant judgements and estimates have
akuntansi Grup. Hal-hal di mana pertimbangan been made in preparing the interim consolidated
dan estimasi signifikan yang dilakukan di dalam financial statements and their effects are discussed
menyajikan laporan keuangan konsolidasian below:
interim beserta dampaknya, dibahas sebagai
berikut:
a. Pertimbangan di dalam penerapan a. Judgements made in applying accounting
kebijakan akuntansi policies
Di dalam proses penerapan kebijakan In the process of applying the Group’s
akuntansi Grup, manajemen telah membuat accounting policies, management has made the
pertimbangan berikut, terlepas dari estimasi following judgements, apart from those
yang terkandung di dalamnya, yang memiliki involving estimations, which have the most
dampak signifikan dari jumlah yang significant effect on the amounts recognized in
tercantum di dalam laporan keuangan the interim consolidated financial statements:
konsolidasian interim:
1) Pajak penghasilan 1) Income taxes
Grup memiliki eksposur pajak The Group has exposure to income taxes.
penghasilan. Pertimbangan signifikan Significant judgement is involved in
diperlukan di dalam menentukan provisi determining the provision for income
pajak penghasilan. Ada beberapa taxes. There are certain transactions and
transaksi dan penghitungan di mana computations for which the ultimate tax
penentuan pajak akhir adalah tidak pasti determination is uncertain during the
selama kegiatan usaha biasa. Grup ordinary course of business. The Group
mengakui liabilitas bagi isu perpajakan recognizes liabilities for expected tax
yang diharapkan berdasarkan estimasi issues based on estimates of whether
apakah pajak tambahan akan jatuh additional taxes will be due. Where the
tempo. Apabila hasil perpajakan final final tax outcome of these matters is
dari hal-hal tersebut berbeda dari jumlah different from the amounts that were
yang semula diakui, maka jumlah initially recognized, such differences will
tersebut akan berdampak di dalam impact in the period in which such
periode di mana penentuan tersebut determination is made.
dibuat.
2) Penentuan mata uang fungsional 2) Determination of functional currency
Grup mengukur transaksi mata uang asing The Group measures foreign currency
di dalam mata uang fungsional masing- transactions in the respective functional
masing Grup. currencies of the Group.
Di dalam menentukan mata uang In determining the functional currencies of
fungsional Grup, pertimbangan the Group, judgement is required to
diperlukan untuk menentukan mata uang determine the currency that mainly
yang paling mempengaruhi harga jual influences sales prices for goods and
barang dan jasa dan negara di mana services and of the country whose
kekuatan persaingan dan regulasi paling competitive forces and regulations mainly
menentukan harga jual barang dan jasa. determine the sales prices of its goods and
services.
Page 67
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/56 Exhibit E/56
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING (Lanjutan) ESTIMATES AND ASSUMPTIONS (Continued)
a. Pertimbangan di dalam penerapan a. Judgements made in applying accounting
kebijakan akuntansi (Lanjutan) policies (Continued)
2) Penentuan mata uang fungsional 2) Determination of functional currency
(Lanjutan) (Continued)
Mata uang fungsional Grup ditentukan The functional currencies of the Group are
berdasarkan penilaian manajemen determined based on management’s
terhadap lingkungan ekonomi di mana assessment of the economic environment
perusahaan beroperasi dan proses in which the entities operate and the
perusahaan di dalam menentukan harga entities’ process of determining sales
jual. prices.
b. Estimasi dan asumsi b. Estimates and assumptions
Asumsi utama berkenaan dengan sumber The key assumptions concerning the future and
utama dan sumber lainnya ketidakpastian other key sources of estimation uncertainty at
estimasi di masa depan, yang memiliki risiko the end of the reporting period, that have a
signifikan yang dapat menyebabkan significant risk of causing a material
penyesuaian material terhadap nilai tercatat adjustment to the carrying amounts of assets
aset dan liabilitas pada periode buku and liabilities within the next financial period
mendatang, diungkapkan sebagai berikut: are discussed below:
1) Masa manfaat aset tetap 1) Useful lives of property, plant and
equipment
Manajemen mengestimasikan masa Management estimates the useful lives of
manfaat aset tetap antara 4 sampai these property, plant and equipment to be
20 tahun, selain infrastruktur between 4 to 20 years, except for mining
pertambangan dan alat berat tertentu infrastructure and certain heavy
yang disusutkan dengan metode unit equipment that are depreciated using the
produksi berdasarkan cadangan terbukti units-of-production method on the basis of
dan cadangan terkira dan dasar proven and probable reserves and hourly
penggunaan jam kerja selama taksiran utilization basis over their estimated
umur operasi alat berat tersebut. Masa operating life. These are common life
manfaat tersebut lazim diterapkan pada expectancies applied in the industry.
industri terkait.
Perubahan tingkat harapan penggunaan Changes in the expected level of usage and
dan perkembangan teknologi dapat technological developments could impact
mempengaruhi umur manfaat ekonomis the economic useful lives and the residual
dan nilai sisa aset tersebut. values of these assets.
Oleh karena itu, pembebanan Therefore, future depreciation charges
penyusutan di masa datang dapat could be revised. The carrying amount of
direvisi. Jumlah tercatat aset tetap Grup the Group’s property, plant and equipment
pada akhir periode pelaporan at the end of the reporting period is
diungkapkan di dalam Catatan 11 laporan disclosed in Note 11 to the interim
keuangan konsolidasian interim. consolidated financial statements.
Page 68
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/57 Exhibit E/57
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING (Lanjutan) ESTIMATES AND ASSUMPTIONS (Continued)
b. Estimasi dan asumsi (Lanjutan) b. Estimates and assumptions (Continued)
2) Nilai wajar instrumen keuangan 2) Fair value of financial instruments
Grup menentukan nilai wajar instrumen The Group determines the fair value of
keuangan yang tidak memiliki kuotasi financial instruments that are not quoted,
pasar dengan menggunakan teknik using valuation techniques.
penilaian.
Teknik tersebut dipengaruhi secara Those techniques are significantly affected
signifikan oleh asumsi yang digunakan, by the assumptions used, including
termasuk tingkat suku bunga diskonto discount rates and estimates of future cash
dan estimasi arus kas di masa depan. flows.
Dalam hal tersebut, estimasi nilai wajar In that regard, the derived fair value
yang diturunkan tidak selalu dapat estimates cannot always be substantiated
disubstansikan oleh perbandingan dengan by comparison with independent markets
pasar independen dan dalam banyak and in many cases, may not be capable of
kasus, tidak dapat segera direalisasikan. being realized immediately.
3) Provisi pembongkaran, rehabilitasi, 3) Provision for decommissioning, mine
reklamasi dan penutupan tambang rehabilitation, reclamation and closure
Peraturan Menteri Lingkungan Hidup dan Ministerial Regulation of Environment and
Kehutanan No. P.59/MENLHK/SETJEN/ Forestry No. P.59/MENLHK/SETJEN/
KUM.1/10/2019 mengatur aktivitas KUM.1/10/2019 deals with rehabilitation
rehabilitasi daerah aliran sungai, activities for watershed area, Government
Peraturan Pemerintah No. 78/2010 Regulation No. 78/2010 (“GR No. 78”)
(“PP No. 78”) (Catatan 38) mengatur (Note 38) deals with reclamation and post-
aktivitas reklamasi dan pascatambang mining activities for both IUP-Exploration
untuk pemegang IUP-Eksplorasi dan IUP- and IUP-Production Operation holders and
Operasi Produksi dan Peraturan Menteri Minister of Energy and Mineral Resources
Energi dan Sumber Daya Mineral (“MEMR”) Regulation No. 26 of 2018
(“ESDM”) No. 26 Tahun 2018 mengatur regulates the implementation of good
pelaksanaan kaidah pertambangan yang mining practices and mineral and coal
baik dan pengawasan pertambangan mining supervision.
mineral dan batubara.
Seperti yang dijelaskan pada Catatan 2s As discussed in Note 2s to these interim
laporan keuangan konsolidasian interim consolidated financial statements,
ini, pemulihan, rehabilitasi, dan biaya restoration, rehabilitation and
lingkungan yang berkaitan dengan environmental expenditure to be incurred
pemulihan atas area terganggu selama related to the remediation of disturbed
tahap produksi dibebankan pada beban areas during the production phase are
pokok pendapatan pada saat kewajiban charged to cost of revenue when the
berkaitan dengan pemulihan tersebut obligation arising from the disturbance
timbul selama proses penambangan. occurs as extraction progresses. The
Reklamasi area terganggu dan reclamation of disturbed areas and
pembongkaran aset tambang dan aset- decommissioning of mining assets and
aset berumur panjang lainnya akan other long-lived assets will be undertaken
dilakukan selama beberapa tahun several years into the future and precise
mendatang dan persyaratan atas requirements are constantly changing to
reklamasi ini terus berubah untuk satisfy political, environmental, safety and
memenuhi ekspektasi politik, lingkungan, public expectations.
keamanan, dan publik.
Page 69
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/58 Exhibit E/58
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING (Lanjutan) ESTIMATES AND ASSUMPTIONS (Continued)
b. Estimasi dan asumsi (Lanjutan) b. Estimates and assumptions (Continued)
3) Provisi pembongkaran, rehabilitasi, 3) Provision for decommissioning, mine
reklamasi dan penutupan tambang rehabilitation, reclamation and closure
(Lanjutan) (Continued)
Dengan demikian waktu pelaksanaan dan As such, the timing and amounts of future
jumlah arus kas di masa mendatang yang cash flows required to settle the
dibutuhkan untuk memenuhi kewajiban obligations at each of the reporting dates
pada setiap tanggal pelaporan are subject to significant uncertainty.
dipengaruhi oleh ketidakpastian yang Changes in the expected future costs could
signifikan. Perubahan pada ekspektasi have a material impact on the Group’s
biaya di masa mendatang dapat interim consolidated financial statements.
mempengaruhi secara material laporan
keuangan konsolidasian interim Grup.
4) Penurunan nilai aset non-keuangan 4) Impairment of non-financial assets
Grup menentukan penurunan nilai dari The Group determines an impairment from
suatu aset atau kelompok aset penghasil an asset or a cash-generating group asset if
kas jika nilai yang terpulihkan atau nilai recoverable amount or fair value is less
wajar lebih rendah dibandingkan than its carrying value. Determination of
nilai tercatatnya. Penentuan nilai recoverable amount or fair value depends
terpulihkan atau nilai wajar dilakukan on estimates and assumptions regarding
dengan membuat estimasi dan asumsi production and sales volume, commodity
atas volume produksi dan penjualan, prices, discount rate, capital expenditure
harga komoditas, tingkat diskonto, and other related factors.
belanja modal dan faktor-faktor terkait
lainnya.
Estimasi dan asumsi yang digunakan The estimations and assumptions applied
memiliki risiko ketidakpastian, sehingga have uncertainty risks, and hence there is
terdapat kemungkinan penurunan nilai possibility to get further impaired or
lebih lanjut atau pengurangan rugi reduced in impairment charges which
penurunan nilai dimana dampaknya akan impact is recognized in profit or loss.
dicatat dalam laba rugi.
5) Estimasi cadangan 5) Reserve estimates
Cadangan nikel adalah bagian dari Nickel reserves are portions of nickel
sumber daya nikel yang, setelah resources that, after the application of all
penerapan semua faktor pengubah, modifying factors, result in an estimated
menghasilkan perkiraan tonase dan tonnage and quality which, in the opinion
kualitas yang, menurut pendapat orang of the competent person making the
yang berkompeten yang membuat estimates, can be the basis of a technically
perkiraan, dapat menjadi dasar proyek and economically viable project, after
yang layak secara teknis dan ekonomis, taking account of material relevant
setelah dengan mempertimbangkan “Modifying Factors”.
“Faktor Pengubah” yang relevan secara
material.
Page 70
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/59 Exhibit E/59
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING (Lanjutan) ESTIMATES AND ASSUMPTIONS (Continued)
b. Estimasi dan asumsi (Lanjutan) b. Estimates and assumptions (Continued)
5) Estimasi cadangan (Lanjutan) 5) Reserve estimates (Continued)
Faktor Pengubah adalah pertimbangan Modifying Factors are considerations used
yang digunakan untuk mengkonversi to convert nickel resources to nickel
sumber daya nikel menjadi cadangan reserves. These include, but are not
nikel. Ini termasuk, namun tidak terbatas restricted to, mining factors (among others
pada, faktor pertambangan (antara lain geological and technical factors including
faktor geologi dan teknis termasuk quantities and qualities, production
kuantitas dan kualitas, teknik produksi techniques and stripping ratios based on
dan nisbah kupas berdasarkan karakter deposit character), processing factors,
deposit), faktor pengolahan, faktor infrastructure factors, economic factors
infrastruktur, faktor ekonomi (antara lain (among others production cost, transport
biaya produksi, biaya transportasi, cost, future capital expenditure, mine
belanja modal masa depan, kewajiban closure obligations and exchange rates),
penutupan tambang dan nilai tukar), marketing factors (among others
faktor pemasaran (antara lain commodity demand and commodity
permintaan komoditas dan harga prices), legal, environmental, social and
komoditas), faktor hukum, lingkungan, governmental factors.
sosial dan pemerintah.
Grup menentukan dan melaporkan The Group determines and reports its
cadangan nikelnya berdasarkan prinsip nickel reserves under the principle
yang terdapat dalam Australasian Joint incorporated with the Australasian Joint
Ore Reserves Committee untuk Ore Reserves Committee (the “JORC”)
Pelaporan Hasil Eksplorasi, Sumber Daya which is a member of the Committee for
Mineral dan Cadangan Bijih (“JORC”) Mineral Reserves International Reporting
yang merupakan anggota Komite untuk Standards (the “CRIRSCO”).
Standar Pelaporan Cadangan Mineral
Internasional (“CRIRSCO”).
Memperkirakan jumlah dan/atau nilai Estimating the quantity and/or content of
cadangan nikel membutuhkan ukuran, nickel reserves requires the size, shape and
bentuk, dan kedalaman model blok nikel depth of nickel block modelling to be
yang akan ditentukan dengan determined by analyzing geological data
menganalisis data geologi seperti “uji such as drilling samples. Further, in order
petik” (sampel) pengeboran. Selain itu, to estimate nickel reserves, assumptions
dalam rangka untuk memperkirakan are required about a range of geological,
cadangan nikel dibutuhkan asumsi technical and economic factors, including
tentang faktor geologi, teknis dan quantities, production techniques,
ekonomi, termasuk jumlah produksi, stripping ratios, production costs,
teknik produksi, rasio nisbah kupas, biaya transport costs, commodity demand,
produksi, biaya transportasi, permintaan commodity prices, future capital
komoditas, belanja modal di masa depan, expenditure, mine closure obligation and
harga komoditas, kewajiban biaya exchange rates. This process may require
penutupan tambang dan nilai tukar. complex and difficult geological
Proses ini mungkin memerlukan judgements to interpret the data.
pertimbangan geologi yang kompleks dan
sulit untuk menginterpretasikan data.
Page 71
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/60 Exhibit E/60
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG PENTING (Lanjutan) ESTIMATES AND ASSUMPTIONS (Continued)
b. Estimasi dan asumsi (Lanjutan) b. Estimates and assumptions (Continued)
5) Estimasi cadangan (Lanjutan) 5) Reserve estimates (Continued)
Karena asumsi ekonomi yang digunakan Because the economic assumptions used to
untuk memperkirakan cadangan berubah estimate reserves change from year to year
dari tahun ke tahun dan karena data and because additional geological data is
geologi tambahan yang dihasilkan selama generated during the course of operations,
operasi, perkiraan cadangan dapat estimates of reserves may change from
berubah dari tahun ke tahun. Perubahan year to year. Changes in reported reserves
cadangan yang dilaporkan dapat may affect the Group’s financial results
mempengaruhi hasil dan posisi keuangan and interim consolidated financial position
konsolidasian interim Grup dalam in a number of ways, including the
berbagai cara, diantaranya: following:
• Nilai tercatat aset dapat • Asset carrying values may be affected
terpengaruh akibat perubahan due to changes in the estimated
estimasi arus kas masa depan; future cash flows;
• Penyusutan, deplesi, dan amortisasi • Depreciation, depletion and
yang dibebankan ke dalam laba rugi amortization charged to profit or loss
dapat berubah dimana beban-beban may change where such charges are
tersebut ditentukan berdasarkan determined based on a unit-of-
metode unit produksi, atau dimana production method or where the
masa manfaat ekonomik umur aset economic useful lives of assets
berubah; change;
• Provisi penutupan tambang dapat • Provision for mine closure may change
berubah apabila terjadi perubahan when changes in estimated reserves
dalam perkiraan cadangan yang affect the expectations regarding the
mempengaruhi ekspektasi tentang timing or cost of these activities;
waktu atau biaya kegiatan ini;
• Nilai tercatat aset pajak tangguhan • The recognition and carrying value of
dapat berubah karena perubahan deferred tax assets may change due to
estimasi atas kemungkinan changes in estimates of the likelihood
terpulihkannya manfaat pajak. of the recoverability of the tax
benefits.
6) Cadangan penurunan nilai pasar dan 6) Allowance for a decline in market values
keusangan persediaan and obsolescence of inventories
Cadangan penurunan nilai realisasi neto Allowance for a decline in net realizable
dan keusangan persediaan diestimasi value and obsolescence of inventories is
berdasarkan fakta dan situasi yang estimated based on the best available facts
tersedia, termasuk namun tidak terbatas and circumstances, including but not
kepada, kondisi fisik persediaan yang limited to, the owned inventories’ physical
dimiliki, harga jual pasar, estimasi biaya conditions, their market selling prices,
penyelesaian dan estimasi biaya yang estimated costs of completion and
timbul untuk penjualan. Cadangan estimated costs to be incurred for their
dievaluasi kembali dan disesuaikan jika sales. The allowance is re-evaluated and
terdapat tambahan informasi yang adjusted as additional information
mempengaruhi jumlah yang diestimasi. received affects the amount estimated.
Page 72
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/61 Exhibit E/61
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
4. KAS DAN BANK 4. CASH AND CASH IN BANKS
31 Maret/ 31 Desember/
March 2026 December 2025
Kas: Cash on hand:
Dolar AS 44,500 35,100 US Dollars
Rupiah 11,870 10,534 Rupiah
Jumlah kas 56,370 45,634 Total cash on hand
Kas di bank: Cash in banks:
PT Bank UOB Indonesia (“UOB”): PT Bank UOB Indonesia (“UOB”):
- Dolar AS 169,689,121 16,323,186 US Dollars -
- Rupiah 168,245,956 164,175,703 Rupiah -
- CNY 14,845 29,700 CNY -
Bank of China (Hong Kong) Limited: Bank of China (Hong Kong) Limited:
- Dolar AS 8,804,841 8,821,548 US Dollars -
- Rupiah 143,352 159,169 Rupiah -
- CNY 137,565 136,818 CNY -
PT Bank ICBC Indonesia: PT Bank ICBC Indonesia:
- Dolar AS 1,280,218 1,280,122 US Dollars -
- Rupiah 184,348 183,574 Rupiah -
PT Bank Danamon Indonesia Tbk PT Bank Danamon Indonesia Tbk
(“Danamon”): (“Danamon”):
- Dolar AS 519,057 516,012 US Dollars -
- Rupiah 35 142 Rupiah -
Lain-lain: Others:
- Rupiah 371,180 545,690 Rupiah -
- Dolar AS 351,097 421,568 US Dollars -
- CNY 63 61 CNY -
Jumlah kas di bank 349,741,678 192,593,293 Total cash in banks
Jumlah 349,798,048 192,638,927 Total
Kas dan bank dinyatakan dalam mata uang berikut: Cash and cash in banks are denominated in the
following currencies:
31 Maret/ 31 Desember/
March 2026 December 2025
Dolar AS 180,688,834 27,397,536 US Dollars
Rupiah (Catatan 34) 168,956,741 165,074,812 Rupiah (Note 34)
CNY (Catatan 34) 152,473 166,579 CNY (Note 34)
Jumlah 349,798,048 192,638,927 Total
Tidak ada kas dan bank yang ditempatkan pada There are no cash and cash in banks held with
pihak berelasi. related parties.
Page 73
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/62 Exhibit E/62
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
4. KAS DAN BANK (Lanjutan) 4. CASH AND CASH IN BANKS (Continued)
Grup memiliki deposito berjangka yang dibatasi The Group has restricted time deposits with the
penggunaannya dengan rincian sebagai berikut: following details:
31 Maret/ 31 Desember/
March 2026 December 2025
PT Bank Mandiri (Persero) Tbk (“Mandiri”) 2,935,149 2,239,763 PT Bank Mandiri (Persero) Tbk (“Mandiri”)
PT Bank Tabungan Negara (Persero) Tbk 48,850 49,240 PT Bank Tabungan Negara (Persero) Tbk
PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk
(“BNI”) 15,705 15,830 (“BNI”)
Jumlah 2,999,704 2,304,833 Total
Seluruh deposito berjangka yang dibatasi All restricted time deposits are denominated in
penggunaannya dalam mata uang Rupiah dan diakui Rupiah and recognized as part of “Other non-current
sebagai bagian dari “Aset tidak lancar lain-lain”. assets”.
Tingkat suku bunga kontraktual deposito berjangka The contractual interest rates on restricted time
yang dibatasi penggunaannya selama periode deposits during the period were 2.25% - 2.90%.
berjalan adalah 2,25% - 2,90%.
Lihat Catatan 38 untuk informasi deposito berjangka Refer to Note 38 for information on the time
yang dibatasi penggunaannya. deposits that are restricted.
5. PIUTANG USAHA 5. TRADE RECEIVABLES
31 Maret/ 31 Desember/
March 2026 December 2025
Pihak ketiga: Third parties:
PT Indonesia Tsingshan Stainless Steel PT Indonesia Tsingshan Stainless Steel
(“ITSS”) 56,225,258 37,228,910 (“ITSS”)
PT Huayue Nickel Cobalt (“HNC”) 52,731,601 21,133,373 PT Huayue Nickel Cobalt (“HNC”)
PT QMB New Energy Materials (“QMB”) 48,264,180 66,765,141 PT QMB New Energy Materials (“QMB”)
Mercuria Dry Bulk Pte. Ltd. (“Mercuria”) 29,428,087 48,430,082 Mercuria Dry Bulk Pte. Ltd. (“Mercuria”)
Lain-lain 34,804,718 38,603,516 Others
Sub-total 221,453,844 212,161,022 Sub-total
Pihak berelasi (Catatan 33) 43,884,153 77,619,433 Related parties (Note 33)
Jumlah 265,337,997 289,780,455 Total
Komposisi piutang usaha berdasarkan mata uang Trade receivables composition based on currency is
adalah sebagai berikut: as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Rupiah (Catatan 34) 235,221,899 241,350,373 Rupiah (Note 34)
Dolar AS 30,116,098 48,430,082 US Dollars
Jumlah 265,337,997 289,780,455 Total
Page 74
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/63 Exhibit E/63
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
5. PIUTANG USAHA (Lanjutan) 5. TRADE RECEIVABLES (Continued)
Analisis umur piutang usaha adalah sebagai berikut: The aging analysis of trade receivables is as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Belum jatuh tempo 188,454,353 185,829,062 Not yet due
Jatuh tempo 1-30 hari 36,523,659 45,481,851 Overdue by 1-30 days
Jatuh tempo 31-60 hari 15,390,324 12,643,603 Overdue by 31-60 days
Jatuh tempo 61-90 hari - 15,967,675 Overdue by 61-90 days
Jatuh tempo lebih dari 90 hari 24,969,661 29,858,264 Overdue by more than 90 days
Jumlah 265,337,997 289,780,455 Total
Manajemen berpendapat bahwa KKE atas piutang Management believes that the ECL of trade
usaha tidak signifikan terhadap laporan keuangan receivables are not significant to the Group’s
konsolidasian interim Grup, oleh karena itu interim consolidated financial statements, and
cadangan kerugian atas piutang usaha dianggap therefore loss allowance of trade receivables is
tidak perlu. considered not necessary.
6. PERSEDIAAN 6. INVENTORIES
31 Maret/ 31 Desember/
March 2026 December 2025
Bahan baku 28,792,798 38,304,029 Raw materials
Bahan pembantu untuk proses produksi 32,988,167 36,862,191 Indirect materials for production
Pekerjaan dalam proses 37,026,199 32,764,414 Work in progress
Barang jadi 152,840,415 93,293,342 Finished goods
Bahan pembantu dan suku cadang 31,835,394 31,072,213 Supplies and spare parts
Jumlah 283,482,973 232,296,189 Total
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As of 31 March 2026 and 31 December 2025, no
tidak terdapat cadangan kerugian penurunan nilai, allowance for impairment were provided since the
karena manajemen berkeyakinan semua persediaan management believes that all inventories can be
dapat digunakan atau dijual dan nilai realisasi neto either used or sold and the net realizable value of
persediaan masih melebihi nilai tercatat inventories exceeds its carrying value.
persediaan.
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As of 31 March 2026 and 31 December 2025, the
persediaan Grup telah diasuransikan terhadap Group’s inventories were insured against all risks of
semua risiko kerusakan melalui PT Lippo General damage by PT Lippo General Insurance Tbk, with
Insurance Tbk, dengan total pertanggungan kurang total coverage of approximately US$13,678,037. The
lebih sebesar US$13.678.037. Manajemen Grup Group’s management is of the opinion that the
berpendapat bahwa persediaan telah diasuransikan inventories are adequately insured to cover the risk
secara memadai untuk menutupi risiko kehilangan of loss and damage.
dan kerusakan.
Page 75
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/64 Exhibit E/64
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
7. UANG MUKA DAN BIAYA DIBAYAR DI MUKA 7. ADVANCES AND PREPAYMENTS
31 Maret/ 31 Desember/
March 2026 December 2025
Advances for acquisition of
Uang muka pembelian aset tetap 56,486,693 56,509,076 property, plant and equipment
Uang muka karyawan, operasional dan Advances for employees, operational and
lainnya 20,091,594 21,029,731 others
Biaya dibayar di muka: Prepayments:
Asuransi 2,588,516 3,485,819 Insurance
Sewa 389,634 161,812 Rental
Jumlah 79,556,437 81,186,438 Total
Bagian lancar ( 23,069,744)( 24,677,362) Current portion
Bagian tidak lancar 56,486,693 56,509,076 Non-current portion
Uang muka merupakan transaksi dengan karyawan Advance payments represent transactions with
dan pemasok atas kegiatan operasional Grup yang employees and suppliers for operational activities of
diperkirakan terealisasi dalam jangka waktu the Group which approximately to realize within of
3 (tiga) bulan dan pembelian aset tetap yang 3 (three) months and purchases of property, plant
diklasifikasikan sebagai bagian tidak lancar. and equipment that classify as non-current portion.
8. UANG MUKA INVESTASI 8. ADVANCES OF INVESTMENTS
31 Maret/ 31 Desember/
March 2026 December 2025
PT Merdeka Energi Baru (“MEB”) 38,881,293 5,478,000 PT Merdeka Energi Baru (“MEB”)
PT Merdeka Industri Anantha (“MIA”) 9,600,000 9,600,000 PT Merdeka Industri Anantha (“MIA”)
Lain-lain 6,331,665 5,750,665 Others
Jumlah 54,812,958 20,828,665 Total
9. INVESTASI PADA ENTITAS ASOSIASI 9. INVESTMENT IN ASSOCIATES
31 Maret/ 31 Desember/
March 2026 December 2025
MIA 61,556,503 59,908,055 MIA
MEB 41,038,294 41,527,610 MEB
PT Meiming New Energy Material PT Meiming New Energy Material
(“MNEM”) 21,705,807 22,307,702 (“MNEM”)
Lain-lain 5,835,602 6,081,031 Others
Jumlah 130,136,206 129,824,398 Total
Page 76
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/65 Exhibit E/65
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
9. INVESTASI PADA ENTITAS ASOSIASI (Lanjutan) 9. INVESTMENT IN ASSOCIATES (Continued)
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As at 31 March 2026 and 31 December 2025, the
entitas asosiasi yang dimiliki oleh Grup adalah associates of the Group were as follows:
sebagai berikut:
Persentase kepemilikan/
Percentage of ownership
Nama entitas/ Kedudukan/ 31 Maret/ 31 Desember/ Kegiatan usaha/
Name of entity Domicile March 2026 December 2025 Business activity
MIA Indonesia 45.00% 45.00% Perusahaan holding dari PT ESG New
Energy Material (“ESG”) yang
merupakan perusahaan pelaksana
pabrik pengolahan High-Pressure
Acid Leach (“HPAL”)/Holding
company of PT ESG New Energy
Material (“ESG”) that operates
High-Pressure Acid Leach (“HPAL”)
processing plant
MEB Indonesia 45.33% 45.33% Perusahaan holding dari PT Sulawesi
Nickel Cobalt (“SLNC”) yang sedang
dalam pembangunan pabrik
pengolahan HPAL/Holding company
of PT Sulawesi Nickel Cobalt
(“SLNC”) that in the process of
construction of the HPAL processing
plant
MNEM Indonesia 12.50% melalui/ 12.50% melalui/ Industri pembuatan logam dasar bukan
through MEU through MEU besi yang merupakan perusahaan
pelaksana pabrik pengolahan HPAL/
Manufacture of non-ferrous basic
metal that operates HPAL processing
plant
Page 77
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/66 Exhibit E/66
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
9. INVESTASI PADA ENTITAS ASOSIASI (Lanjutan) 9. INVESTMENT IN ASSOCIATES (Continued)
Entitas asosiasi Grup merupakan perusahaan swasta The Group’s associates are private entities and
tertutup dan tidak terdapat harga pasar yang there are no quoted market prices available for
dikutip yang tersedia untuk entitas asosiasi their shares.
tersebut.
Tabel di bawah ini menampilkan ringkasan The table below provides a summary of the financial
informasi keuangan entitas asosiasi Grup, dimana information of the Group’s associates, which are
semuanya tidak diperdagangkan di bursa. unlisted.
MEB MIA MNEM
31 Desember/ 31 Desember/ 31 Desember/
31 Maret/ December 31 Maret/ December 31 Maret/ December
March 2026 2025 March 2026 2025 March 2026 2025
Jumlah aset 1,411,172,094 1,428,132,986 1,012,955,686 1,057,683,742 977,107,502 939,574,880 Total assets
Jumlah liabilitas 962,829,966 1,073,130,555 747,856,569 796,978,881 804,104,025 761,756,243 Total liabilities
Kepentingan non-pengendali 207,415,876 146,399,946 124,122,754 123,391,714 - - Non-controlling interest
Pendapatan - - 93,904,658 374,469,697 56,114,308 282,526,828 Revenue
Laba/(rugi) periode/tahun Profit/(loss) for the
berjalan ( 2,226,881) 495,005 4,668,054 33,269,343 ( 4,727,680) 29,622,323 period/year
Laba/(rugi) periode/tahun Profit/(loss) for the
berjalan yang dapat period/year
diatribusikan kepada pemilik attributable to owners of
entitas induk ( 1,079,526) 1,966,189 3,661,949 19,590,165 ( 4,727,680) 29,622,323 the parent entity
Penghasilan komprehensif Comprehensive
periode/tahun berjalan yang income for the period/year
dapat diatribusikan kepada attributable to owners of
pemilik entitas induk ( 1,079,526) 1,966,189 3,663,216 19,590,165 ( 4,727,680) 29,622,323 the parent entity
Persentase kepemilikan (%) 45.33% 45.33% 45.00% 45.00% 12.50% 12.50% Percentage of ownership (%)
Rekonsiliasi dari ringkasan informasi keuangan yang The reconciliation of the summarized financial
disajikan terhadap nilai buku dari kepentingan Grup information presented to the carrying amount of the
dalam entitas asosiasi adalah sebagai berikut: Group’s interests in the associates is as follows:
MEB MIA MNEM
31 Desember/ 31 Desember/ 31 Desember/
31 Maret/ December 31 Maret/ December 31 Maret/ December
March 2026 2025 March 2026 2025 March 2026 2025
Aset bersih yang dapat
diatribusikan kepada pemilik Net assets attributable
entitas induk 240,926,252 208,602,485 140,976,363 137,313,147 173,003,477 177,818,637 to owners of the parent entity
Dikurangi: uang muka penyertaan Less: advance for share
modal ( 150,387,793) ( 116,984,500) ( 9,600,000) ( 9,600,000) - - capital subscriptions
90,538,459 91,617,985 131,376,363 127,713,147 173,003,477 177,818,637
Persentase kepemilikan (%) 45.33 45.33 45.00 45.00 12.50 12.50 Percentage of ownership (%)
41,038,294 41,527,610 59,119,364 57,470,916 21,625,435 22,227,330
Goodwill - - 2,437,139 2,437,139 80,372 80,372 Goodwill
Nilai tercatat investasi pada Carrying amount of
entitas asosiasi 41,038,294 41,527,610 61,556,503 59,908,055 21,705,807 22,307,702 investments in associates
Grup memiliki wakil dalam Direksi pada entitas The Group has representatives on the Board of
asosiasi di atas sehingga Grup memiliki pengaruh Directors in above associates, therefore, the Group
signifikan atas entitas asosiasi tersebut. has significant influence over the associates.
Berdasarkan penilaian manajemen pada tanggal Based on management’s assessment as at
31 Maret 2026 dan 31 Desember 2025, tidak ada 31 March 2026 and 31 December 2025, no
indikasi penurunan nilai. impairment indicators noted.
Page 78
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/67 Exhibit E/67
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
10. ASET HAK-GUNA 10. RIGHT-OF-USE ASSETS
31 Maret/March 2026
Saldo awal/ Penambahan/ Saldo akhir/
Beginning balance Additions Ending balance
Biaya perolehan Acquisition costs
Tanah 1,353,567 1,349,861 2,703,428 Land
Ruang kantor 1,365,397 - 1,365,397 Office spaces
Kendaraan 715,700 - 715,700 Vehicles
Machineries and
Mesin dan peralatan 1,094,405 - 1,094,405 equipment
Alat berat 14,865,761 - 14,865,761 Heavy equipment
Jumlah 19,394,830 1,349,861 20,744,691 Total
Accumulated
Akumulasi penyusutan depreciation
Tanah - ( 100,127 ) ( 100,127 ) Land
Ruang kantor ( 330,829 ) ( 119,566 ) ( 450,395 ) Office spaces
Kendaraan ( 659,601 )( 4,008 ) ( 663,609) Vehicles
Machineries and
Mesin dan peralatan ( 109,403 ) ( 130,812 ) ( 240,215) equipment
Alat berat ( 10,163,361 ) ( 38,244 ) ( 10,201,605 ) Heavy equipment
Jumlah ( 11,263,194 ) ( 392,757 ) ( 11,655,951 ) Total
Nilai tercatat 8,131,636 9,088,740 Carrying value
31 Desember/December 2025
Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/
Beginning balance Additions Disposals Ending balance
Biaya perolehan Acquisition costs
Tanah - 1,353,567 - 1,353,567 Land
Ruang kantor 2,094,529 979,505 ( 1,708,637 ) 1,365,397 Office spaces
Kendaraan 656,929 58,771 - 715,700 Vehicles
Machineries and
Mesin dan peralatan 196,843 897,562 - 1,094,405 equipment
Alat berat 13,893,588 972,173 - 14,865,761 Heavy equipment
Jumlah 16,841,889 4,261,578 ( 1,708,637 ) 19,394,830 Total
Accumulated
Akumulasi penyusutan depreciation
Ruang kantor ( 835,187 )( 431,347 ) 935,705 ( 330,829 ) Office spaces
Kendaraan ( 643,246 )( 16,355 ) - ( 659,601) Vehicles
Machineries and
Mesin dan peralatan ( 65,769 )( 43,634 ) - ( 109,403) equipment
Alat berat ( 9,594,287 )( 569,074 ) - ( 10,163,361 ) Heavy equipment
Jumlah ( 11,138,489 )( 1,060,410 ) 935,705 ( 11,263,194 ) Total
Nilai tercatat 5,703,400 8,131,636 Carrying value
Beban penyusutan untuk periode tiga bulan yang Depreciation expense for the three-month periods
berakhir pada tanggal 31 Maret 2026 dan 2025 ended 31 March 2026 and 2025 was allocated as
dialokasikan sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Beban pokok pendapatan (Catatan 26) 273,191 - Cost of revenue (Note 26)
Beban umum dan administrasi General and administrative expenses
(Catatan 27) 119,566 102,109 (Note 27)
Aset dalam pembangunan - 174,624 Construction in progress
Jumlah 392,757 276,733 Total
Page 79
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/68 Exhibit E/68
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
10. ASET HAK-GUNA (Lanjutan) 10. RIGHT-OF-USE ASSETS (Continued)
Pada tanggal 31 Maret 2026, aset hak-guna Grup As at 31 March 2026, the Group’s right-of-use
telah diasuransikan terhadap semua risiko assets were insured against all risks of damage by
kerusakan melalui PT Asuransi Mitra Pelindung PT Asuransi Mitra Pelindung Mustika and
Mustika dan PT Asuransi Astra Buana, dengan total PT Asuransi Astra Buana, with total coverage of
pertanggungan kurang lebih sebesar US$11.223.484 approximately US$11,223,484 (31 December 2025:
(31 Desember 2025: US$8.576.806). US$8,576,806).
11. ASET TETAP 11. PROPERTY, PLANT AND EQUIPMENT
31 Maret/March 2026
Selisih kurs dari
penjabaran laporan
keuangan/
Exchange
differences due to
financial
Saldo awal/ Penambahan/ statements Saldo akhir/
Beginning balance Additions translation Ending balance
Biaya perolehan Acquisition costs
Tanah 221,816 - - 221,816 Land
Pabrik 932,625,644 - - 932,625,644 Plant
Bangunan 33,662,244 - - 33,662,244 Buildings
Infrastruktur pertambangan 148,230,671 - - 148,230,671 Mining infrastructure
Mesin dan peralatan 257,433,329 - - 257,433,329 Machineries and equipment
Kendaraan 1,613,532 5,730 - 1,619,262 Vehicles
Perabotan dan peralatan 1,830,396 - - 1,830,396 Furniture and fixtures
IT and communication
Peralatan IT dan komunikasi 485,267 - - 485,267 equipment
Alat berat 33,170,954 11,432 - 33,182,386 Heavy equipment
Perlengkapan kantor 262,527 - - 262,527 Office equipment
Jumlah 1,409,536,380 17,162 - 1,409,553,542 Total
Aset tetap dalam
pembangunan 527,806,932 35,901,119 15 563,708,066 Construction in progress
Jumlah 1,937,343,312 35,918,281 15 1,973,261,608 Total
Akumulasi penyusutan Accumulated depreciation
Pabrik ( 133,988,206) ( 14,266,297) - ( 148,254,503) Plant
Bangunan ( 3,068,300) ( 441,913) - ( 3,510,213) Buildings
Infrastruktur pertambangan ( 16,562,092) ( 1,764,768) - ( 18,326,860) Mining infrastructure
Mesin dan peralatan ( 768,714) ( 5,632,419) - ( 6,401,133) Machineries and equipment
Kendaraan ( 810,165) ( 54,629) - ( 864,794) Vehicles
Perabotan dan peralatan ( 1,325,821) ( 114,579) - ( 1,440,400) Furniture and fixtures
IT and communication
Peralatan IT dan komunikasi ( 455,319) ( 14,361) - ( 469,680) equipment
Alat berat ( 15,914,232) ( 1,271,514) - ( 17,185,746) Heavy equipment
Perlengkapan kantor ( 249,248) ( 2,362) - ( 251,610) Office equipment
Jumlah ( 173,142,097) ( 23,562,842) - ( 196,704,939) Total
Nilai tercatat 1,764,201,215 1,776,556,669 Carrying value
Page 80
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/69 Exhibit E/69
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
11. ASET TETAP (Lanjutan) 11. PROPERTY, PLANT AND EQUIPMENT (Continued)
31 Desember/December 2025
Saldo awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo akhir/
Beginning balance Additions Disposals Reclassifications Ending balance
Biaya perolehan Acquisition costs
Tanah 221,816 - - - 221,816 Land
Pabrik 664,530,098 242,542 - 267,853,004 932,625,644 Plant
Bangunan 20,095,481 - - 13,566,763 33,662,244 Buildings
Infrastruktur
pertambangan 148,230,671 - - - 148,230,671 Mining infrastructure
Machineries and
Mesin dan peralatan 1,451,155 - - 255,982,174 257,433,329 equipment
Kendaraan 1,613,532 64,114 ( 64,114 ) - 1,613,532 Vehicles
Perabotan dan
peralatan 1,830,396 - - - 1,830,396 Furniture and fixtures
Peralatan IT dan IT and communication
komunikasi 485,267 - - - 485,267 equipment
Alat berat 32,500,524 3,585,427 ( 2,914,997 ) - 33,170,954 Heavy equipment
Perlengkapan kantor 262,527 - - - 262,527 Office equipment
Jumlah 871,221,467 3,892,083 ( 2,979,111 ) 537,401,941 1,409,536,380 Total
Aset tetap dalam Construction in
pembangunan 824,184,016 241,024,857 - ( 537,401,941) 527,806,932 progress
Jumlah 1,695,405,483 244,916,940 ( 2,979,111 ) - 1,937,343,312 Total
Accumulated
Akumulasi penyusutan depreciation
Pabrik ( 89,086,688) ( 44,901,518) - - ( 133,988,206) Plant
Bangunan ( 1,769,528) ( 1,298,772) - - ( 3,068,300 ) Buildings
Infrastruktur
pertambangan ( 8,404,725) ( 8,157,367) - - ( 16,562,092 ) Mining infrastructure
Machineries and
Mesin dan peralatan ( 482,503) ( 286,211) - - ( 768,714 ) equipment
Kendaraan ( 558,438) ( 257,070) 5,343 - ( 810,165 ) Vehicles
Perabotan dan
peralatan ( 835,237) ( 490,584) - - ( 1,325,821 ) Furniture and fixtures
Peralatan IT dan IT and communication
komunikasi ( 358,595) ( 96,724) - - ( 455,319 ) equipment
Alat berat ( 11,231,481) ( 5,234,330) 551,579 - ( 15,914,232 ) Heavy equipment
Perlengkapan kantor ( 222,050) ( 27,198) - - ( 249,248 ) Office equipment
Jumlah ( 112,949,245) ( 60,749,774) 556,922 - ( 173,142,097) Total
Nilai tercatat 1,582,456,238 1,764,201,215 Carrying value
Beban penyusutan untuk periode tiga bulan yang Depreciation expense for the three-month periods
berakhir pada tanggal 31 Maret 2026 dan 2025 ended 31 March 2026 and 2025 was allocated as
dialokasikan sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Beban pokok pendapatan (Catatan 26) 22,676,604 13,151,677 Cost of revenue (Note 26)
Beban lain-lain 768,470 788,883 Other expenses
Beban umum dan administrasi General and administrative expenses
(Catatan 27) 117,768 118,138 (Note 27)
Aset dalam pembangunan - 13,504 Construction in progress
Jumlah 23,562,842 14,072,202 Total
Pada tanggal 31 Maret 2026, aset tetap Grup telah As at 31 March 2026, the Group’s property, plant
diasuransikan terhadap semua risiko kerusakan and equipment were insured against all risks of
melalui PT Lippo General Insurance Tbk dan damage by PT Lippo General Insurance Tbk and a
kelompok perusahaan asuransi (dimana perusahaan group of insurance company (of which the main
asuransi utama adalah PT Asuransi Mitra Pelindung insurer is PT Asuransi Mitra Pelindung Mustika),
Mustika), dengan total pertanggungan kurang lebih with total coverage of approximately
sebesar US$1.331.786.739 (31 Desember 2025: US$1,331,786,739 (31 December 2025:
US$1.329.920.464), kecuali untuk aset tetap yang US$1,329,920,464), except for property, plant and
tidak bisa diasuransikan seperti tanah dan sebagian equipment that could not be insured such as land
aset dalam pembangunan. and certain construction in progress.
Seluruh aset tetap yang ada pada tanggal pelaporan All of the property, plant and equipment as at the
digunakan untuk menunjang aktivitas operasi Grup. reporting date are fully used to support the
Pada tanggal 31 Maret 2026, harga perolehan atas Group’s operating activities. As at 31 March 2026,
aset tetap Grup yang telah habis nilai buku netonya the acquisition costs of property, plant and
tetapi masih dipakai sebesar US$2.661.927 equipment of the Group with a net book value of
(31 Desember 2025: US$2.356.636). zero but which are still in use amounted to
US$2,661,927 (31 December 2025: US$2,356,636).
Page 81
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/70 Exhibit E/70
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
11. ASET TETAP (Lanjutan) 11. PROPERTY, PLANT AND EQUIPMENT (Continued)
Aset dalam pembangunan Construction in progress
Aset dalam pembangunan pada tanggal Construction in progress as at 31 March 2026
31 Maret 2026 sebagian besar terdiri dari pabrik, mainly comprised of plant, road and bridges. Most
jalan dan jembatan. Sebagian besar aset dalam of the construction in progress are expected to be
pembangunan diperkirakan akan selesai pada tahun completed in 2026. Details of construction in
2026. Rincian aset dalam pembangunan adalah progress are as follows:
sebagai berikut:
Persentase Estimasi
penyelesaian/ penyelesaian/
Percentage of Estimated Jumlah/
completion completion Amount
Proyek Acid Iron Metal 90%-99% 2026 353,644,498 Acid Iron Metal project
Infrastruktur pertambangan 1%-99% 2026 194,866,456 Mine infrastructure
Infrastruktur dan pabrik RKEF 95%-99% 2026 15,197,112 RKEF infrastructure and plant
Jumlah 563,708,066 Total
Untuk periode tiga bulan yang berakhir pada For the three-month periods ended 31 March 2026
31 Maret 2026 dan 2025, biaya pinjaman yang and 2025, borrowing costs capitalized to
dikapitalisasi ke aset dalam pembangunan masing- construction in progress amounted to US$5,079,901
masing sebesar US$5.079.901 dan US$13.919.870. and US$13,919,870, respectively. Borrowing costs
Biaya pinjaman dikapitalisasi pada tingkat bunga were capitalized at the weighted average rate of
rata-rata tertimbang dari pinjaman umum yaitu its general borrowings of 6.99%.
sebesar 6,99%.
Manajemen telah mengkaji ulang atas estimasi Management has reviewed the estimated economic
umur ekonomis, metode penyusutan dan nilai life, depreciation methods and residual values at
residu pada setiap akhir periode pelaporan dan the end of reporting period and has opinion that
berpendapat bahwa tidak ada perubahan dari there was no change from the previous period.
periode pelaporan sebelumnya.
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As at 31 March 2026 and 31 December 2025,
manajemen berpendapat bahwa tidak ada indikasi management is of the opinion that there was no
penurunan nilai aset tetap. indication of impairment in the property, plant
and equipment’s value.
12. PROPERTI PERTAMBANGAN 12. MINING PROPERTIES
Tambang yang berproduksi/
Mines in production
31 Maret/ 31 Desember/
March 2026 December 2025
Harga perolehan Acquisition costs
Saldo awal 556,499,712 542,590,074 Beginning balance
Penambahan 3,124,890 13,909,638 Additions
Saldo akhir 559,624,602 556,499,712 Ending balance
Akumulasi amortisasi Accumulated amortization
Saldo awal ( 72,874,306)( 43,398,825) Beginning balance
Amortisasi ( 6,508,761)( 29,475,481) Amortization
Saldo akhir ( 79,383,067)( 72,874,306) Ending balance
Jumlah nilai tercatat 480,241,535 483,625,406 Total carrying amount
Page 82
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/71 Exhibit E/71
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
12. PROPERTI PERTAMBANGAN (Lanjutan) 12. MINING PROPERTIES (Continued)
Properti pertambangan diamortisasi dengan Mining properties were amortized using unit-of-
menggunakan metode unit produksi dengan asumsi production method by assuming its value will be
nilainya akan habis di akhir masa tambang. Beban zero at the end of the life of mine. The amortization
amortisasi properti pertambangan dibebankan of mining properties is fully charged to cost of
sebagai beban pokok pendapatan (Catatan 26). revenue (Note 26).
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As of 31 March 2026 and 31 December 2025, the
manajemen Grup berpendapat bahwa tidak Group’s management is of the opinion that there are
terdapat kejadian-kejadian atau perubahan no events or changes of circumstances which
keadaan yang mengindikasikan adanya bukti indicate permanent decline in the fair value of the
objektif penurunan nilai wajar properti mining properties, therefore, no provision for
pertambangan, sehingga tidak diperlukan cadangan impairment in the value of mining properties is
penurunan nilai atas properti pertambangan. necessary.
13. GOODWILL 13. GOODWILL
31 Maret/ 31 Desember/
March 2026 December 2025
Harga perolehan 358,694,581 358,694,581 Acquisition costs
Rincian goodwill berdasarkan lini usaha, sebagai Details of goodwill based on lines of business are as
berikut: follows:
Manufaktur logam dasar
Pertambangan bukan besi/
nikel/ Manufacture of non- Lainnya/ Jumlah/
Nickel mining ferrous basic metals Others Total
31 Maret 2026 dan 31 March 2026 and
31 Desember 2025 124,599,667 232,569,410 1,525,504 358,694,581 31 December 2025
Sesuai dengan kebijakan akuntansi Grup, goodwill In accordance with the Group’s accounting policy,
diuji penurunan nilainya secara tahunan goodwill is tested for impairment annually
(Catatan 2m). Untuk tujuan pengujian penurunan (Note 2m). For the purpose of assessing impairment,
nilai, aset dikelompokkan hingga unit terkecil yang assets are grouped at the lowest level for which
menghasilkan arus kas terpisah (UPK). there are separately identifiable cash flows (CGU).
Asumsi utama yang digunakan dalam perhitungan The key assumptions used for recoverable amount
jumlah terpulihkan pada tanggal 31 Desember 2025 calculations as at 31 December 2025 were as
adalah sebagai berikut: follows:
Pertambangan nikel/ Manufaktur logam dasar bukan besi/
Nickel mining Manufacture of non-ferrous basic metals
Tingkat diskonto 11.43% 12.22% Discount rate
Perhitungan ini menggunakan proyeksi arus kas These calculations use cash flow projections based
berdasarkan anggaran keuangan yang disetujui oleh on financial budgets approved by the management.
manajemen. Asumsi utama yang lain termasuk Other key assumptions include projected cash flows,
proyeksi arus kas, harga nikel, estimasi cadangan nickel price, estimated nickel ore reserves, inflation
bijih nikel, tingkat inflasi, tingkat penjualan dan rate, sales and production levels and cost
produksi dan struktur biaya. structures.
Page 83
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/72 Exhibit E/72
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
13. GOODWILL (Lanjutan) 13. GOODWILL (Continued)
Manajemen menentukan asumsi utama berdasarkan Management determined the key assumptions based
kombinasi pengalaman masa lalu dan sumber on a combination of past experience and external
eksternal. sources.
Pada tanggal 31 Desember 2025, jumlah As at 31 December 2025, the recoverable amount of
terpulihkan dari setiap UPK ditentukan berdasarkan the CGUs was determined based on value in use
perhitungan nilai pakai yang membutuhkan calculations which requires the use of assumptions.
penggunaan asumsi-asumsi. Teknik penilaian The valuation technique uses significant
menggunakan input-input yang signifikan yang tidak unobservable inputs, which represent a Level 3 fair
dapat diobservasi, yang merupakan nilai wajar value.
Tingkat 3.
Pada tanggal 31 Maret 2026, manajemen Grup As at 31 March 2026, the Group’s management is of
berpendapat bahwa tidak terdapat peristiwa atau the opinion that no events or changes in
perubahan keadaan dari pengujian penurunan nilai circumstances from the period annual goodwill
tahunan sebelumnya, yang mengindikasikan adanya impairment testing, that indicate an impairment of
penurunan nilai dari goodwill. goodwill.
14. UTANG USAHA 14. TRADE PAYABLES
31 Maret/ 31 Desember/
March 2026 December 2025
Pihak ketiga 145,900,311 153,139,282 Third parties
Pihak berelasi (Catatan 33) 3,183,018 4,309,725 Related parties (Note 33)
Jumlah 149,083,329 157,449,007 Total
Komposisi utang usaha berdasarkan mata uang Trade payables composition based on currency is as
adalah sebagai berikut: follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Rupiah (Catatan 34) 129,239,535 135,195,047 Rupiah (Note 34)
Dolar AS 14,369,954 18,917,451 US Dollars
CNY (Catatan 34) 5,409,183 3,317,647 CNY (Note 34)
EUR (Catatan 34) 41,098 18,862 EUR (Note 34)
AUD (Catatan 34) 23,559 - AUD (Note 34)
Jumlah 149,083,329 157,449,007 Total
Saldo utang usaha terutama berasal dari pembelian Trade payables balances mainly arose from the
bahan baku, bahan bakar, suku cadang purchase of raw materials, fuel, spare parts and
dan bahan pendukung lainnya, jasa perbaikan other indirect materials, repair and maintenance
dan pemeliharaan, jasa pengangkutan, jasa services, transportation services, mining services
pertambangan dan pembelian aset tetap. and purchase of property, plant and equipment.
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As of 31 March 2026 and 31 December 2025, there
tidak terdapat utang usaha yang dikenakan bunga. are no trade payables that bear interest.
Karena sifatnya yang jangka pendek maka nilai Due to their short-term nature, their carrying
wajar utang usaha diperkirakan sama dengan nilai amount approximates their fair value.
tercatatnya.
Page 84
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/73 Exhibit E/73
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
15. BEBAN YANG MASIH HARUS DIBAYAR 15. ACCRUED EXPENSES
31 Maret/ 31 Desember/
March 2026 December 2025
Operasi dan konstruksi 73,540,602 69,707,332 Operations and constructions
Bunga 19,035,921 18,071,434 Interest
Biaya karyawan 349,670 2,565,516 Employee costs
Biaya emisi obligasi - 37,751 Bonds issuance cost
Biaya emisi sukuk - 23,929 Sharia bonds issuance cost
Jumlah 92,926,193 90,405,962 Total
Bagian jangka pendek ( 88,819,011)( 87,251,615) Current portion
Bagian jangka panjang 4,107,182 3,154,347 Non-current portion
Komposisi beban yang masih harus dibayar Accrued expenses composition based on currency is
berdasarkan mata uang adalah sebagai berikut: as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Rupiah (Catatan 34) 80,056,624 79,850,224 Rupiah (Note 34)
Dolar AS 12,071,575 9,885,765 US Dollars
CNY (Catatan 34) 739,126 669,973 CNY (Note 34)
AUD (Catatan 34) 58,868 - AUD (Note 34)
Jumlah 92,926,193 90,405,962 Total
16. LIABILITAS SEWA 16. LEASE LIABILITIES
31 Maret/ 31 Desember/
March 2026 December 2025
PT Mandiri Tunas Finance 1,598,327 1,709,651 PT Mandiri Tunas Finance
PT Mitsui Leasing Capital Indonesia 1,054,921 1,352,636 PT Mitsui Leasing Capital Indonesia
PT Agung Sedayu 445,446 438,230 PT Agung Sedayu
PT Merdeka Indonesia Mandiri (“MIM”) 160,708 158,838 PT Merdeka Indonesia Mandiri (“MIM”)
PT Tiga Pilar Bersaudara Investama 130,162 128,883 PT Tiga Pilar Bersaudara Investama
Jumlah 3,389,564 3,788,238 Total
Bagian jangka pendek ( 2,019,458)( 2,052,422) Current portion
Bagian jangka panjang 1,370,106 1,735,816 Non-current portion
Suku bunga pinjaman inkremental yang digunakan The incremental borrowing rates of 6.75% - 11.00%
untuk perjanjian sewa yang tidak mengandung suku per annum are used for lease agreements that don’t
bunga implisit adalah 6,75% - 11,00% per tahun. have an implicit interest rate.
Laporan laba rugi konsolidasian interim menyajikan The interim consolidated statements of profit or
saldo berikut yang berkaitan dengan sewa: loss show the following amounts related to leases:
31 Maret/ 31 Maret/
March 2026 March 2025
Bunga atas liabilitas sewa (Catatan 28) 67,931 74,456 Interest on lease liabilities (Note 28)
Page 85
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/74 Exhibit E/74
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
17. PINJAMAN 17. BORROWINGS
31 Maret/ 31 Desember/
March 2026 December 2025
Pinjaman dan fasilitas kredit bank Bank loans and credit facility
Perjanjian Fasilitas Kredit Berjangka US$250,000,000 Term and Revolving
dan Bergulir US$250.000.000 250,000,000 100,000,000 Credit Facilities Agreement
Biaya transaksi yang belum diamortisasi ( 1,638,420)( 1,756,978) Unamortized transaction costs
Jumlah 248,361,580 98,243,022 Total
Bagian jangka pendek ( 155,000,000)( 2,500,000) Current portion
Bagian jangka panjang 93,361,580 95,743,022 Non-current portion
Pinjaman dari pemegang saham entitas Loans from shareholder of
anak subsidiaries
HT Asia Industry Limited (“HTAI”) 24,681,300 24,681,300 HT Asia Industry Limited (“HTAI”)
Strengthen Holding Pte. Ltd. (“SHPL”) 22,055,800 - Strengthen Holding Pte. Ltd. (“SHPL”)
Plenceed International Industrial Limited Plenceed International Industrial Limited
(“Plenceed”) 6,000,000 6,000,000 (“Plenceed”)
Jumlah 52,737,100 30,681,300 Total
Perjanjian Fasilitas Kredit Berjangka dan Bergulir US$250,000,000 Term and Revolving Credit Facilities
US$250.000.000 Agreement
Pada bulan Oktober 2025, Perusahaan sebagai In October 2025, the Company as borrower have
debitur telah menandatangani Perjanjian Fasilitas entered into a Facilites Agreement for
untuk Fasilitas Kredit Berjangka dan Bergulir Mata US$250,000,000 Single Currency Term and
Uang Tunggal dengan jumlah pokok sampai dengan Revolving Credit Facilities with, among others,
US$250.000.000 dengan, antara lain, PT Bank CIMB PT Bank CIMB Niaga Tbk (“CIMB”), PT Bank Central
Niaga Tbk (“CIMB”), PT Bank Central Asia Tbk Asia Tbk (“BCA”), Danamon, Mandiri, and PT Bank
(“BCA”), Danamon, Mandiri, dan PT Bank Maybank Maybank Indonesia Tbk (“Maybank”) as mandated
Indonesia Tbk (“Maybank”) sebagai para penerima lead arrangers and original lenders, whereby CIMB
mandat pengatur utama dan para kreditur awal, acting as agent (“US$250,000,000 Term and
dimana CIMB bertindak sebagai agen (“Perjanjian Revolving Credit Facilities Agreement”). Based on
Fasilitas Kredit Berjangka dan Bergulir this US$250,000,000 Term and Revolving Credit
US$250.000.000”). Berdasarkan Perjanjian Fasilitas Facilities Agreement, the lenders will provide to
Kredit Berjangka dan Bergulir US$250.000.000 ini, the Company: (i) US Dollars term loan facility with
para kreditur akan menyediakan kepada a total commitment in the amount of
Perusahaan yakni: (i) suatu fasilitas pinjaman US$100,000,000 (“Facility A”); and (ii) US Dollars
berjangka dalam mata uang revolving loan facility with a total commitment in
Dolar AS dengan total komitmen yaitu sebesar the amount of US$150,000,000 (“Facility B”)
US$100.000.000 (“Fasilitas A”); dan (ii) suatu (Facility B together with Facility A shall be
fasilitas pinjaman bergulir dalam mata uang referred to as “Facilities”). The Facilities have an
Dolar AS dengan total komitmen yaitu sebesar interest per annum of the aggregate of 2.75% plus
US$150.000.000 (“Fasilitas B”) (Fasilitas B bersama- compounded reference rate for that day, for a 48-
sama dengan Fasilitas A, disebut sebagai month tenor.
“Fasilitas”). Fasilitas ini memiliki bunga per tahun
sebesar keseluruhan dari 2,75% dan tingkat suku
bunga acuan majemuk untuk hari tersebut, untuk
suatu jangka waktu 48 bulan.
Fasilitas ini ditujukan untuk melunasi seluruh The facility is intended for repaying all amounts
jumlah yang terutang berdasarkan Perjanjian outstanding under the Facility Agreement for
Fasilitas untuk Fasilitas Kredit Bergulir Mata Uang US$100,000,000 Single Currency Revolving Credit
Tunggal dengan jumlah pokok sampai dengan Facility (“US$100,000,000 Revolving Credit Facility
US$100.000.000 (“Perjanjian Fasilitas Kredit Agreement”) and for general corporate purposes of
Bergulir US$100.000.000”) dan untuk tujuan umum the Company.
Perusahaan.
Page 86
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/75 Exhibit E/75
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
17. PINJAMAN (Lanjutan) 17. BORROWINGS (Continued)
Perjanjian Fasilitas Kredit Berjangka dan Bergulir US$250,000,000 Term and Revolving Credit Facilities
US$250.000.000 (Lanjutan) Agreement (Continued)
Perusahaan diwajibkan oleh krediturnya untuk The Company is required by the lenders to maintain
memelihara rasio utang bersih konsolidasian the ratio of consolidated net debt to consolidated
terhadap EBITDA konsolidasian lebih kecil dari EBITDA is less than 5 : 1.
5 : 1.
Perusahaan juga diharuskan untuk mematuhi syarat The Company is also required to comply with
dan ketentuan tertentu sehubungan dengan certain terms and conditions with regard to its
anggaran dasar, sifat usaha, kegiatan investasi, articles of association, the nature of the business,
kegiatan pembiayaan dan hal-hal lain. Untuk investing activities, financing activities and other
periode tiga bulan yang berakhir pada tanggal matters. For the three-month period ended
31 Maret 2026, Perusahaan telah memenuhi rasio 31 March 2026, the Company is in compliance with
keuangan yang dipersyaratkan serta syarat dan the required financial ratios and related terms and
ketentuan terkait. conditions.
Untuk periode tiga bulan yang berakhir pada For the three-month period ended 31 March 2026,
tanggal 31 Maret 2026, Perusahaan telah melakukan the Company has made drawdowns of Facility B
penarikan atas Fasilitas B sebesar US$150.000.000. amounting to US$150,000,000.
Jadwal pembayaran pokok pinjaman yang terutang The repayment schedule of the principal of this
adalah sebagai berikut: facility is as follows:
Jadwal pembayaran kembali/ Jumlah pembayaran
Repayment schedule kembali/
(tahun/year) Repayment amount
2026 152,500,000
2027 10,000,000
2028 10,000,000
2029 77,500,000
Total 250,000,000
Page 87
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/76 Exhibit E/76
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
17. PINJAMAN (Lanjutan) 17. BORROWINGS (Continued)
HTAI HTAI
SCM menandatangani Perjanjian Pinjaman SCM entered into a Shareholder Loan Agreement
Pemegang Saham dengan HTAI pada tanggal with HTAI on 21 September 2023 as amended by
21 September 2023 sebagaimana diubah melalui First Amendment on Shareholders Loan Agreement
Amendemen Pertama atas Perjanjian Pinjaman dated 14 July 2025 for the principal amount of
Pemegang Saham tanggal 14 Juli 2025 untuk pokok US$34,545,000, which will mature after five years
pinjaman sebesar US$34.545.000 yang akan jatuh from the effective date of this agreement or on any
tempo setelah lima tahun setelah tanggal efektif other date as agreed in writing by the parties.
perjanjian atau dalam jangka waktu lain
sebagaimana disetujui secara tertulis oleh para
pihak.
Fasilitas pinjaman ini digunakan untuk modal kerja, This loan facility is used for working capital
meliputi antara lain biaya karyawan, biaya jasa purposes, including among others, salary and wage
profesional, pembayaran royalti ke kas negara, costs, professional service fees, royalty fees to the
biaya pengangkutan dan bongkar muat, biaya state treasury, transportation and loading and
pemeliharaan dan perbaikan, serta biaya unloading costs, maintenance and repair costs as
penambangan. well as mining costs.
Pinjaman ini akan dikenakan bunga sebesar These loans shall bear interest in the aggregate of:
penjumlahan dari:
a. rata-rata suku bunga 180 hari Secured Overnight a. 180-Day Average Secured Overnight Financing
Financing Rate Average Index (“180-Hari Rate Average Index (“180-Day SOFRAI”); and
SOFRAI”); dan
b. margin (4,75% per tahun). b. margin (4.75% per annum).
Dalam perjanjian pinjaman ini, tidak ada kewajiban Under this loan agreement, there are no financial
rasio keuangan yang harus dipatuhi oleh SCM. SCM ratio covenants that SCM is required to comply
diharuskan untuk memenuhi beberapa persyaratan with. SCM is required to comply with certain terms
dan ketentuan mengenai hal-hal tertentu yang and conditions with regard to certain matters
diatur dalam anggaran dasar, termasuk sifat umum regulated in its articles of association, including
kegiatan usaha, aksi korporasi, kegiatan the general nature of its business, corporate
pembiayaan dan lainnya. actions, financing activities and other matters.
Untuk periode tiga bulan yang berakhir pada For the three-month periods ended 31 March 2026
tanggal 31 Maret 2026 dan 2025, SCM tidak and 2025, SCM has not made any drawdowns of this
melakukan penarikan atas fasilitas pinjaman ini. loan facility.
SHPL SHPL
ZHN menandatangani Perjanjian Pinjaman dengan ZHN entered into a Loan Agreement with SHPL in
SHPL pada bulan September 2025 sebesar September 2025 amounting to US$46,506,800,
US$46.506.800 yang akan jatuh tempo lima tahun which will mature five years after the effective
setelah tanggal efektif perjanjian ini atau dalam date of this agreement or on any other date as
jangka waktu lain sebagaimana disetujui secara agreed in writing by the parties.
tertulis oleh para pihak.
Fasilitas pinjaman ini digunakan untuk keperluan This loan facility is used for general corporate
korporasi umum, termasuk namun tidak terbatas purposes, including but not limited to working
pada modal kerja, pengeluaran modal dan capital, capital and operational expenditures of
operasional ZHN. ZHN.
Page 88
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/77 Exhibit E/77
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
17. PINJAMAN (Lanjutan) 17. BORROWINGS (Continued)
SHPL (Lanjutan) SHPL (Continued)
Pinjaman ini akan dikenakan bunga sebesar These loans shall bear interest in the aggregate of:
penjumlahan dari:
a. 180-Hari SOFRAI; dan a. 180-Day SOFRAI; and
b. margin (4,75% per tahun). b. margin (4.75% per annum).
Dalam perjanjian pinjaman ini, tidak ada kewajiban Under this loan agreement, there are no financial
rasio keuangan yang harus dipatuhi oleh ZHN. ZHN ratio covenants that ZHN is required to comply
diharuskan untuk memenuhi beberapa persyaratan with. ZHN is required to comply with certain terms
dan ketentuan mengenai hal-hal tertentu yang and conditions with regard to certain matters
diatur dalam anggaran dasar, termasuk sifat umum regulated in its articles of association, including
kegiatan usaha, aksi korporasi, kegiatan the general nature of its business, corporate
pembiayaan dan lainnya. actions, financing activities and other matters.
Untuk periode tiga bulan yang berakhir pada For the three-month period ended 31 March 2026,
tanggal 31 Maret 2026, ZHN telah melakukan ZHN has made drawdowns of this loan facility
penarikan atas fasilitas pinjaman ini sebesar amounting to US$22,055,800.
US$22.055.800.
Plenceed Plenceed
HNMI menandatangani Perjanjian Pinjaman dengan HNMI entered into a Loan Agreement with Plenceed
Plenceed pada bulan Desember 2025 sebesar in December 2025 amounting to US$6,000,000,
US$6.000.000 yang akan jatuh tempo lima tahun which will mature five years after the effective
setelah tanggal efektif perjanjian ini atau dalam date of this agreement or on any other date as
jangka waktu lain sebagaimana disetujui secara agreed in writing by the parties.
tertulis oleh para pihak.
Fasilitas pinjaman ini digunakan untuk keperluan This loan facility is used for HNMI’s needs, including
HNMI, termasuk namun tidak terbatas pada, but not limited to, general corporate needs
keperluan korporasi umum termasuk untuk including for capital and operational expenditures
keperluan pengeluaran modal dan operasional serta and HNMI’s working capital, and other needs as
modal kerja HNMI, dan keperluan-keperluan lainnya required by HNMI.
sebagaimana dibutuhkan HNMI.
Pinjaman ini akan dikenakan bunga sebesar These loans shall bear interest in the aggregate of:
penjumlahan dari:
a. 180-Hari SOFRAI; dan a. 180-Day SOFRAI; and
b. margin (4,75% per tahun). b. margin (4.75% per annum).
Dalam perjanjian pinjaman ini, tidak ada kewajiban Under this loan agreement, there are no financial
rasio keuangan yang harus dipatuhi oleh HNMI. ratio covenants that HNMI is required to comply
HNMI diharuskan untuk memenuhi beberapa with. HNMI is required to comply with certain terms
persyaratan dan ketentuan mengenai hal-hal and conditions with regard to certain matters
tertentu yang diatur dalam anggaran dasar, regulated in its articles of association, including
termasuk sifat umum kegiatan usaha, aksi the general nature of its business, corporate
korporasi, kegiatan pembiayaan dan lainnya. actions, financing activities and other matters.
Pada tahun 2025, HNMI telah melakukan penarikan In 2025, HNMI has made fully drawdown of this loan
penuh atas fasilitas pinjaman ini sebesar facility amounting to US$6,000,000.
US$6.000.000.
Page 89
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/78 Exhibit E/78
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
18. LIABILITAS IMBALAN KERJA JANGKA PANJANG 18. LONG-TERM EMPLOYEE BENEFITS LIABILITIES
Liabilitas imbalan pasca-kerja pada tanggal Post-employment benefits liabilities as at
31 Desember 2025 dihitung oleh KKA Riana & Rekan, 31 December 2025 were calculated by KKA Riana &
aktuaris independen, sedangkan untuk jumlah Rekan, independent actuary, while for the post
liabilitas imbalan pasca-kerja yang diakui di laporan employment benefit liabilities recognized in the
keuangan konsolidasian interim pada tanggal interim interim consolidated financial statements
31 Maret 2026 dan beban imbalan kerja untuk as at 31 March 2026 and post-employment benefits
periode tiga bulan yang berakhir pada tanggal expense for the three-month period then ended are
tersebut adalah berdasarkan laporan aktuaria based on the actuarial report for post-employment
liabilitas imbalan pasca-kerja pada tanggal benefits liabilities as at 31 December 2025 and
31 Desember 2025 dan proyeksi yang dihitung oleh projections calculated by KKA Riana & Rekan in the
KKA Riana & Rekan pada laporan aktuaria tersebut, actuarial report, while post-employment benefits
sedangkan beban imbalan kerja untuk periode tiga expense for the three-month period ended 31 March
bulan yang berakhir pada tanggal 31 Maret 2025 2025 are based on the actuarial report for post
adalah berdasarkan laporan aktuaria liabilitas employment benefits liabilities as at 31 December
imbalan pasca-kerja pada tanggal 31 Desember 2024 and projections calculated by KKA Riana &
2024 dan proyeksi yang dihitung oleh KKA Riana & Rekan in the actuarial report.
Rekan pada laporan aktuaria tersebut.
Asumsi utama yang digunakan dalam menentukan The principal assumptions used in determining the
liabilitas imbalan kerja jangka panjang karyawan Group’s long-term employee benefits liabilities are
Grup adalah sebagai berikut: as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Tingkat diskonto 7.00% 7.00% Discount rate
Tingkat kenaikan gaji 6.00% 6.00% Salary increment rate
Tingkat kematian 100% TMI – 2019 100% TMI – 2019 Mortality rate
Tingkat kecacatan 5% TMI – 2019 5% TMI – 2019 Disability rate
56 – 58 56 – 58
Usia normal pensiun tahun/years tahun/years Normal retirement age
Tingkat kenaikan harga emas 8.00% 8.00% Gold price increment rate
Harga emas Rp2,450,000 Rp2,450,000 Gold price
Melalui program pensiun imbalan pasti, Grup Through its defined benefit pension plans, the
menghadapi sejumlah risiko signifikan sebagai Group is exposed to a number of significant risks of
berikut: which are detailed below:
1) Penurunan pada tingkat diskonto menyebabkan 1) A decrease in discount rate will increase plan
kenaikan liabilitas program. liabilities.
2) Liabilitas imbalan pensiun Grup berhubungan 2) The Group’s pension obligations are linked to
dengan tingkat kenaikan gaji, semakin tinggi salary growth rate, higher salary growth rate
tingkat kenaikan gaji akan menyebabkan will lead to higher liabilities.
semakin besarnya liabilitas.
Sensitivitas liabilitas imbalan pasti terhadap The sensitivity of the defined benefit obligation to
perubahan asumsi utama tertimbang pada changes in the weighted principal assumptions as at
31 Maret 2026 adalah: 31 March 2026 is as follows:
Dampak terhadap liabilitas imbalan pasti/
Impact on defined benefit obligation
Perubahan Kenaikan Penurunan
asumsi/ asumsi/ asumsi/
Change in Increase in Decrease in
assumptions assumptions assumptions
Tingkat diskonto 1% ( 395,487) 463,445 Discount rate
Tingkat kenaikan gaji 1% 301,410 ( 262,568) Salary increment rate
Tingkat kenaikan harga emas 1% 175,933 ( 151,548) Gold price increment rate
Page 90
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/79 Exhibit E/79
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
18. LIABILITAS IMBALAN KERJA JANGKA PANJANG 18. LONG-TERM EMPLOYEE BENEFITS LIABILITIES
(Lanjutan) (Continued)
Mutasi nilai kini kewajiban imbalan pasti yang tidak The movement in the present value of the Group’s
didanai Grup adalah sebagai berikut: unfunded defined benefits obligation is as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Pada awal periode/tahun 4,208,208 2,094,061 At the beginning of the period/year
Imbalan yang dibayar -( 68,180) Benefits paid
Biaya jasa kini 569,041 1,672,884 Current service cost
Biaya jasa lalu -( 68,750) Past service cost
Beban bunga 45,468 147,382 Interest expense
Penyesuaian - 176,347 Adjustment
Pengukuran kembali: Remeasurements:
- Kerugian dari penyesuaian Loss from experience –
pengalaman - 92,089 adjustments
- Kerugian dari perubahan Loss from change in financial –
asumsi keuangan - 252,816 assumptions
Efek perubahan kurs valuta asing ( 35,383)( 90,441) Effects of changes in foreign currency
Saldo akhir 4,787,334 4,208,208 Ending balance
Jumlah beban imbalan kerja jangka panjang adalah Total long-term employee benefits expense are as
sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Biaya jasa kini 569,041 336,034 Current service cost
Beban bunga 45,468 27,285 Interest expense
Jumlah 614,509 363,319 Total
Beban imbalan kerja jangka panjang dicatatkan Long-term employee benefits expenses are charged
pada laporan laba rugi konsolidasian, kapitalisasi ke to the consolidated statements of profit or loss,
properti pertambangan serta aset dalam capitalized to mining properties and construction in
pembangunan. progress.
Analisis jatuh tempo yang diharapkan dari manfaat Expected maturity analysis of undiscounted pension
pensiun yang tidak terdiskonto pada tanggal benefits as at 31 March 2026 is as follows:
31 Maret 2026 adalah sebagai berikut:
Kurang dari 2 – 5 tahun/ 6 – 10 tahun/ Lebih dari
1 tahun/Less Between 2 - 5 Between 6 - 10 10 tahun/ Jumlah/
than a year years years Over 10 years Total
Imbalan kerja jangka Long-term employee
panjang 154,963 3,536,671 10,234,484 236,405,541 250,331,659 benefits
Durasi rata-rata tertimbang dari liabilitas imbalan The Group’s weighted average duration of the
pasti Grup pada tanggal 31 Maret 2026 adalah defined benefit obligation as of 31 March 2026 is
berkisar antara 14 sampai dengan 31 tahun. around 14 until 31 years.
Page 91
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/80 Exhibit E/80
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI 19. BONDS PAYABLE
31 Maret/ 31 Desember/
March 2026 December 2025
Nilai tercatat Carrying value
Nilai nominal 610,202,000 615,075,759 Par value
Biaya penerbitan obligasi yang belum Unamortized bonds issuance
diamortisasi sebesar Rp43.580.551.249 costs of Rp43,580,551,249
(31 Desember 2025: Rp51.318.273.844) ( 2,577,055)( 3,058,848 ) (31 December 2025: Rp51,318,273,844)
Jumlah 607,624,945 612,016,911 Total
Bagian jangka pendek ( 175,264,531)( 176,430,742 ) Current portion
Bagian jangka panjang 432,360,414 435,586,169 Non-current portion
Informasi tambahan mengenai utang obligasi yang Additional information related to outstanding
terutang per 31 Maret 2026 adalah sebagai berikut: bonds payable as of 31 March 2026 is as follows:
Pokok obligasi/ Pokok obligasi/ Jadwal pembayaran
Bonds principal Bonds principal Tanggal jatuh bunga/
Jenis/ (dalam juta Rp/ (dalam Dolar AS/ tempo/ Interest payment Tingkat bunga/
Type in million Rp) in US Dollars) Maturity date schedule Interest rates
Obligasi I Merdeka Battery Seri/Series B 975,000 57,654,781 3 April 2027 Setiap triwulan 9.25%
Materials Tahun 2024/Bonds I dimulai tanggal 3
Merdeka Battery Materials Juli 2024/Quarterly
Year 2024 start from 3 July
2024
Obligasi II Merdeka Battery Seri/Series B 1,783,985 105,492,579 8 Oktober/ Setiap triwulan 9.00%
Materials Tahun 2024/Bonds October 2027 dimulai tanggal 8
II Merdeka Battery Materials Januari 2025/
Year 2024 Quarterly start from
8 January 2025
Obligasi III Merdeka Battery Seri/Series A 824,950 48,781,858 22 April 2026 Setiap triwulan 7.50%
Materials Tahun 2025/Bonds dimulai tanggal
III Merdeka Battery Materials Seri/Series B 357,380 21,132,990 15 April 2028 15 Juli 2025/ 8.75%
Year 2025 Quarterly start from
15 July 2025
Seri/Series C 214,485 12,683,165 15 April 2030 9.25%
Obligasi Berkelanjutan I Seri/Series A 1,158,735 68,519,603 15 Juli/July 2026 Setiap triwulan 7.50%
Merdeka Battery Materials dimulai tanggal
Tahap I Tahun 2025/Shelf Seri/Series B 526,185 31,114,955 8 Juli/July 2028 8 Oktober 2025/ 8.75%
Bonds I Merdeka Battery Quarterly start from
Materials Tranche I Year 8 October 2025
2025 Seri/Series C 436,740 25,825,794 8 Juli/July 2030 9.25%
Obligasi Berkelanjutan I Seri/Series A 984,066 58,190,882 27 Agustus/ Setiap triwulan 7.50%
Merdeka Battery Materials August 2026 dimulai tanggal
Tahap II Tahun 2025/Shelf 20 November 2025/
Bonds I Merdeka Battery Seri/Series B 686,140 40,573,591 20 Agustus/ Quarterly start from 8.75%
Materials Tranche II Year August 2028 20 November 2025
2025
Seri/Series C 270,510 15,996,097 20 Agustus/ 9.25%
August 2030
Obligasi Berkelanjutan I Seri/Series A 982,150 58,077,583 9 Desember/ Setiap triwulan 7.50%
Merdeka Battery Materials December 2028 dimulai tanggal
Tahap III Tahun 2025/Shelf 9 Maret 2026/
Bonds I Merdeka Battery Quarterly start from
Seri/Series B 1,118,800 66,158,122 9 Desember/ 8.25%
Materials Tranche III Year 9 March 2026
December 2030
2025
Page 92
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/81 Exhibit E/81
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI (Lanjutan) 19. BONDS PAYABLE (Continued)
Pada tanggal 3 April 2024, Perusahaan melakukan On 3 April 2024, the Company conducted Public
Penawaran Umum Obligasi I Merdeka Battery Offering of Bonds I Merdeka Battery Materials
Materials Tahun 2024 dengan jumlah pokok Year 2024 with a principal amount of
obligasi sebesar Rp1.500.000.000.000 yang Rp1,500,000,000,000, issued scripless and offered
diterbitkan tanpa warkat, dan ditawarkan dengan at 100% in two series. Repayment of each series
nilai 100% dalam dua seri. Pelunasan masing- of Bonds will be made in full (bullet payment) at
masing seri Obligasi akan dilakukan secara penuh maturity. The net proceeds from this issuance of
(bullet payment) pada saat jatuh tempo. Hasil bonds were used for: (i) prepayment of loan
bersih dari penerbitan obligasi ini akan digunakan principal of US$80,000,000 Facility Agreement of
untuk: (i) pembayaran lebih awal atas pokok utang the Company to UOB; and (ii) working capital of
yang timbul berdasarkan Perjanjian Fasilitas the Company, including but not limited to,
US$80.000.000 yang dimiliki oleh Perusahaan employee costs, professional fees, tax expenses
terhadap UOB; dan (ii) modal kerja Perusahaan, and finance costs.
termasuk namun tidak terbatas pada biaya
karyawan, biaya jasa profesional, biaya pajak dan
biaya keuangan.
Pada tanggal 8 Oktober 2024, Perusahaan On 8 October 2024, the Company conducted Public
melakukan Penawaran Umum Obligasi II Merdeka Offering of Bonds II Merdeka Battery Materials
Battery Materials Tahun 2024 dengan jumlah Year 2024 with a principal amount of
pokok obligasi sebesar Rp2.000.000.000.000 yang Rp2,000,000,000,000, issued scripless, and offered
diterbitkan tanpa warkat, dan ditawarkan dengan at 100% in two series. Repayment of each series of
nilai 100% dalam dua seri. Pelunasan masing- Bonds will be made in full (bullet payment) at
masing seri Obligasi akan dilakukan secara penuh maturity. The net proceeds from this issuance of
(bullet payment) pada saat jatuh tempo. Hasil bonds were used for: (i) prepayment of all
bersih dari penerbitan obligasi ini akan digunakan outstanding loan principal of US$175,000,000 Loan
untuk: (i) pembayaran lebih awal atas seluruh Agreement of the Company to MDKA; (ii)
pokok terutang yang timbul berdasarkan prepayment of part of loan principal of
Perjanjian Pinjaman US$175.000.000 yang dimiliki US$100,000,000 Loan Agreement of the Company to
oleh Perusahaan terhadap MDKA; (ii) pembayaran MDKA; and (iii) working capital of the Company,
lebih awal atas sebagian pokok terutang yang including but not limited to, employee costs,
timbul berdasarkan Perjanjian Pinjaman professional fees, tax expenses and finance costs,
US$100.000.000 yang dimiliki oleh Perusahaan including accrued interest under the
terhadap MDKA; dan (iii) modal kerja Perusahaan, US$175,000,000 Loan Agreement and
termasuk namun tidak terbatas pada biaya US$100,000,000 Loan Agreement to MDKA from
karyawan, biaya jasa profesional, biaya pajak dan period July to the prepayment date.
biaya keuangan, termasuk bunga terutang dalam
Perjanjian Pinjaman US$175.000.000 dan
Perjanjian Pinjaman US$100.000.000 terhadap
MDKA untuk periode bulan Juli sampai dengan
tanggal pembayaran lebih awal.
Page 93
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/82 Exhibit E/82
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI (Lanjutan) 19. BONDS PAYABLE (Continued)
Pada tanggal 15 April 2025, Perusahaan melakukan On 15 April 2025, the Company conducted Public
Penawaran Umum Obligasi III Merdeka Battery Offering of Bonds III Merdeka Battery Materials
Materials Tahun 2025 dengan jumlah pokok obligasi Year 2025 with a principal amount of
sebesar Rp1.396.815.000.000 yang diterbitkan Rp1,396,815,000,000, issued scripless and offered at
tanpa warkat, dan ditawarkan dengan nilai 100% 100% in three series. Repayment of each series of
dalam tiga seri. Pelunasan masing-masing seri Bonds will be made in full (bullet payment) at
Obligasi akan dilakukan secara penuh (bullet maturity. The net proceeds from this issuance of
payment) pada saat jatuh tempo. Hasil bersih dari bonds were used for: (i) prepayment of part of
penerbitan obligasi ini akan digunakan untuk: (i) outstanding loan principal of US$100,000,000
pembayaran lebih awal atas sebagian pokok Revolving Credit Facility Agreement, which will
terutang yang timbul berdasarkan Perjanjian be paid to the lenders, which is CIMB, Danamon,
Fasilitas Kredit Bergulir US$100.000.000, yang akan Maybank through CIMB as the agent; and (ii) in the
dibayarkan kepada para kreditur, yaitu CIMB, event of any surplus, it will be used as working
Danamon, Maybank melalui CIMB sebagai agen; dan capital of the Company, including but not limited
(ii) dalam hal terdapat sisa, akan digunakan to, employee costs, professional fees, tax
sebagai modal kerja Perusahaan, termasuk namun expenses and finance costs related to the
tidak terbatas pada biaya karyawan, biaya jasa Company’s operational activities.
profesional, biaya pajak dan biaya keuangan
sehubungan dengan kegiatan operasional
Perusahaan.
Pada tanggal 30 Juni 2025, Perusahaan telah On 30 June 2025, the Company received
mendapatkan pemberitahuan efektifnya notification of the effectiveness of the
pernyataan pendaftaran dari OJK dalam rangka registration statement from the OJK in regards to
Penawaran Umum Obligasi Berkelanjutan I the Public Offering of Shelf Bonds I
dengan target dana yang dihimpun sebesar with fund target of Rp16,000,000,000,000 (“Shelf
Rp16.000.000.000.000 (“Obligasi Berkelanjutan Bonds I”).
I”).
Pada tanggal 8 Juli 2025, Perusahaan melakukan On 8 July 2025, the Company conducted Public
Penawaran Umum Obligasi Berkelanjutan I Offering of Shelf Bonds I Merdeka Battery
Merdeka Battery Materials Tahap I Tahun Materials Tranche I Year 2025 with a principal
2025 dengan jumlah pokok sebesar amount of Rp2,121,660,000,000, issued scripless,
Rp2.121.660.000.000, diterbitkan tanpa warkat, and offered at 100% in three series. Repayment of
dan ditawarkan dengan nilai 100% dalam tiga seri. each series of Bonds will be made in full (bullet
Pelunasan masing-masing seri Obligasi akan payment) at maturity. The net proceeds from this
dilakukan secara penuh (bullet payment) pada issuance of bonds were used for: (i) prepayment
saat jatuh tempo. Hasil bersih dari penerbitan of all of loan principal of US$100,000,000 Loan
obligasi ini akan digunakan untuk: (i) pembayaran Agreement of the Company to MDKA; and (ii)
lebih awal atas seluruh pokok utang yang timbul provide loan to MTI for the purpose of prepayment
berdasarkan Perjanjian Pinjaman US$100.000.000 of part of loan principal of US$260,000,000
yang dimiliki oleh Perusahaan terhadap MDKA; dan Facility Agreement.
(ii) memberikan pinjaman kepada MTI untuk
selanjutnya digunakan untuk pembayaran lebih
awal atas sebagian pokok utang yang timbul
berdasarkan Perjanjian Fasilitas US$260.000.000.
Page 94
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/83 Exhibit E/83
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI (Lanjutan) 19. BONDS PAYABLE (Continued)
Pada tanggal 20 Agustus 2025, Perusahaan On 20 August 2025, the Company conducted Public
melakukan Penawaran Umum Obligasi Offering of Shelf Bonds I Merdeka Battery
Berkelanjutan I Merdeka Battery Materials Tahap II Materials Tranche II Year 2025 with a principal
Tahun 2025 dengan jumlah pokok obligasi sebesar amount of Rp1,940,716,000,000, issued scripless,
Rp1.940.716.000.000 yang diterbitkan tanpa and offered at 100% in three series. Repayment of
warkat, dan ditawarkan dengan nilai 100% dalam each series of Bonds will be made in full (bullet
tiga seri. Pelunasan masing-masing seri Obligasi payment) at maturity. The net proceeds from this
akan dilakukan secara penuh (bullet payment) issuance of bonds were used for: (i) provided loan
pada saat jatuh tempo. Hasil bersih dari to MTI for the purpose of prepayment of part of
penerbitan obligasi ini akan digunakan untuk: (i) outstanding loan principal of US$260,000,000
memberikan pinjaman kepada MTI untuk Facility Agreement, which will be paid to the
selanjutnya digunakan untuk pembayaran lebih Original Facility A Lenders, through United
awal atas sebagian pokok utang yang timbul Overseas Bank Limited as the agent; and (ii)
berdasarkan Perjanjian Fasilitas US$260.000.000, prepayment of part of outstanding loan principal
yang akan dibayarkan kepada Pemberi Pinjaman of US$100,000,000 Revolving Credit Facility
Fasilitas A Awal melalui United Overseas Bank Agreement, which will be paid to the lenders,
Limited sebagai agen; dan (ii) pembayaran lebih through CIMB as the agent.
awal atas sebagian pokok utang yang timbul
berdasarkan Perjanjian Fasilitas Kredit Bergulir
US$100.000.000, yang akan dibayarkan kepada
para kreditur, melalui CIMB sebagai agen.
Pada tanggal 9 Desember 2025, Perusahaan On 9 December 2025, the Company conducted
melakukan Penawaran Umum Obligasi Public Offering of Shelf Bonds I Merdeka Battery
Berkelanjutan I Merdeka Battery Materials Tahap Materials Tranche III Year 2025 with a principal
III Tahun 2025 dengan jumlah pokok obligasi amount of Rp2,100,950,000,000, issued scripless,
sebesar Rp2.100.950.000.000 yang diterbitkan and offered at 100% in two series. Repayment of
tanpa warkat, dan ditawarkan dengan nilai 100% each series of Bonds will be made in full (bullet
dalam dua seri. Pelunasan masing-masing seri payment) at maturity. The net proceeds from this
Obligasi akan dilakukan secara penuh (bullet issuance of bonds were used for: (i) early
payment) pada saat jatuh tempo. Hasil bersih dari repayment of all outstanding loan principal of
penerbitan obligasi ini akan digunakan untuk: Facility B of the US$250,000,000 Term and
(i) pembayaran dipercepat atas seluruh pokok Revolving Credit Facilities Agreement, which will
utang Fasilitas B yang timbul berdasarkan be paid to the lenders, through CIMB as the agent;
Perjanjian Fasilitas Kredit Berjangka dan Bergulir and (ii) the remaining amount will be used by the
US$250.000.000, yang akan dibayarkan kepada Company as working capital, including but not
para kreditur, melalui CIMB sebagai agen; dan (ii) limited to employee expenses, professional
sisanya akan digunakan oleh Perusahaan sebagai service fees, tax expenses, and financial costs,
modal kerja, termasuk namun tidak terbatas pada including the interest payable under Facility B of
biaya karyawan, biaya jasa profesional, biaya the US$250,000,000 Term and Revolving Credit
pajak dan biaya keuangan, termasuk bunga Facilities Agreement for the period from
terutang Fasilitas B dalam Perjanjian Fasilitas November 2025 until the date of early repayment.
Kredit Berjangka dan Bergulir US$250.000.000
untuk periode bulan November 2025 sampai
dengan tanggal pembayaran dipercepat.
Page 95
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/84 Exhibit E/84
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI (Lanjutan) 19. BONDS PAYABLE (Continued)
Berdasarkan Perjanjian Perwaliamanatan, Based on Trusteeship Agreement, the Company will
Perusahaan tidak akan melakukan hal-hal berikut not conduct the following activities without the
tanpa persetujuan tertulis dari Wali Amanat: written consent of the Trustee:
• Melakukan penggabungan atau peleburan atau • • Conduct merger or acquisition, except for
pengambilalihan, kecuali yang dilakukan dalam conduct internal restructuring of the Group
rangka restrukturisasi internal Grup dan and investment company, or which conducted
perusahaan investasi atau yang dilakukan with an entity of which (i) the business
terhadap perusahaan yang (i) bidang usahanya activities same or in line with the Group and
sama atau sejalan dengan Grup dan perusahaan investment company; (ii) other business
investasi; (ii) bidang usaha lain yang tercakup activities within or in line with nickel industry
dalam atau sejalan dengan industri nikel dan and its derivative products; and/or (iii) has
produk turunannya; dan/atau (iii) bidang usaha other business activities covered in electric
lain yang tercakup dalam industri rantai nilai vehicle battery value chain, that do not cause
bahan baku baterai kendaraan bermotor listrik, material adverse impact, provided that the
hal mana yang tidak menyebabkan dampak terms of bonds under the Trusteeship
merugikan material, dengan ketentuan semua Agreement and other related documents
syarat kondisi obligasi berdasarkan Perjanjian remain valid and binding throughout the
Perwaliamanatan serta dokumen lain terkait surviving company.
tetap berlaku dan mengikat sepenuhnya
terhadap perusahaan penerus.
• Melakukan peminjaman utang baru yang • • Borrowing new debt that is pari-passu ranking
memiliki kedudukan lebih tinggi dari kedudukan higher than the ranking of debt arising from
utang yang timbul berdasarkan obligasi, kecuali bonds, except for (i) the proceeds from the new
(i) hasil dana dari utang baru tersebut digunakan debt are used for the Group’s daily business
untuk kegiatan usaha sehari-hari Grup atau activities or for refinancing purposes of the
untuk tujuan pembiayaan kembali atas utang existing debt or for the purpose of
yang telah ada atau pembelian kembali obligasi repurchasing the bonds subject to the
dengan tunduk pada ketentuan Perjanjian provisions under the Trusteeship Agreement
Perwaliamanatan dan/atau (ii) pinjaman untuk and/or (ii) debt for project financing subject to
project financing dengan memperhatikan provisions under the Trusteeship Agreement.
ketentuan dalam Perjanjian Perwaliamanatan.
• Menjaminkan dan/atau membebani aktiva • • Guarantee and/or charge the assets including
termasuk hak atas pendapatan Perusahaan, baik the Company’s income, both those that exist
yang sekarang ada maupun yang akan diperoleh currently and those that will be obtained in the
di masa yang akan datang, kecuali jaminan yang future, except for the guarantee that is given
diberikan atas utang yang termasuk dalam poin for the debt in the second point above and/or
kedua di atas dan/atau penjaminan atau security or encumbrances for project financing.
pembebanan untuk project financing.
• Melakukan pengalihan aset dalam satu transaksi • • Transfer assets to one transaction or series of
atau beberapa rangkaian transaksi dalam satu transactions in current financial year with total
tahun buku berjalan yang jumlahnya melebihi more than 10% from the total assets of the
10% dari total aset Grup dan perusahaan Group and investment company, except for
investasi, kecuali untuk transaksi-transaksi certain transactions under the Trusteeship
tertentu sebagaimana diatur di dalam Perjanjian Agreement.
Perwaliamanatan.
• Mengubah bidang usaha Perusahaan kecuali • • Change the scope of the Company’s activities
perubahan tersebut merupakan penambahan except for those changes are additional new
bidang usaha baru selain dari bidang usaha yang business activities outside of existing business
telah ada di dalam anggaran dasar Perusahaan activities stipulated in the existing articles of
saat ini dengan ketentuan dalam poin pertama association of the Company with the terms in
di atas. accordance with the first point above.
• Mengurangi modal dasar, modal ditempatkan • • Reduce the Company’s authorized capital,
dan disetor Perusahaan. issued and fully paid-up capital.
• Membayar, membuat atau menyatakan • • Pay, make or declare the distribution of
pembagian dividen pada tahun buku Perusahaan dividends in related financial year while the
pada saat Perusahaan lalai dalam melakukan Company is negligent to repay outstanding
pembayaran jumlah terutang. amounts.
Page 96
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/85 Exhibit E/85
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
19. UTANG OBLIGASI (Lanjutan) 19. BONDS PAYABLE (Continued)
• Mengadakan segala bentuk kerjasama, bagi hasil •• Conduct any form of cooperation, profit share
atau perjanjian serupa lainnya di luar kegiatan or other similar agreements outside of the
usaha sehari-hari Perusahaan atau perjanjian Company’s daily business activities or
manajemen atau perjanjian serupa lainnya yang management agreements or other similar
mengakibatkan kegiatan/operasi Perusahaan agreements which resulting to the Company’s
sepenuhnya diatur oleh pihak lain dan activities being fully regulated by other parties
menimbulkan dampak merugikan material, and causing material adverse impact, except for
kecuali perjanjian yang dibuat oleh Perusahaan the agreement made by the Company with its
dengan para pemegang sahamnya dan shareholder and loan agreement with third
perjanjian pinjaman dengan pihak ketiga party in which the Company is acting as the
dimana Perusahaan bertindak sebagai debitur. borrower.
Perusahaan berkewajiban mempertahankan rasio The Company is obliged to meet the financial ratio
keuangan utang neto konsolidasian : EBITDA of consolidated net debt : consolidated EBITDA no
konsolidasian tidak lebih dari 5 : 1 selama jangka more than 5 : 1 during the terms period of the bonds
waktu obligasi dan/atau selama seluruh jumlah and/or all total principal and interest bonds or
pokok dan bunga obligasi atau kewajiban lainnya others obligation are not fully paid yet. Financial
belum seluruhnya dibayarkan. Rasio keuangan ini ratio is calculated every year end.
dihitung setiap akhir tahun.
Utang obligasi yang diterbitkan telah dicatatkan di Bonds payable issued are listed in the IDX on 4 April
BEI masing-masing pada tanggal 4 April 2024, 2024, 9 October 2024, 16 April 2025, 9 July 2025,
9 Oktober 2024, 16 April 2025, 9 Juli 2025, 21 August 2025, and 10 December 2025,
21 Agustus 2025, dan 10 Desember 2025 dan respectively, and denominated in Rupiah, and have
diterbitkan dalam mata uang Rupiah, serta obtained idA (Single A) rating from PT Pemeringkat
mendapatkan peringkat idA (Single A) dari Efek Indonesia (“Pefindo”). The Company engaged
PT Pemeringkat Efek Indonesia (“Pefindo”). PT Bank Rakyat Indonesia (Persero) Tbk, a third
Perusahaan telah menunjuk PT Bank Rakyat party, as Trustee to act as the intermediaries
Indonesia (Persero) Tbk, pihak ketiga, sebagai Wali between the Company and the Bondholders.
Amanat untuk bertindak sebagai perantara antara
Perusahaan dan Pemegang Obligasi.
Page 97
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/86 Exhibit E/86
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
20. SUKUK 20. SHARIA BONDS
31 Maret/ 31 Desember/
March 2026 December 2025
Nilai tercatat Carrying value
Nilai nominal 199,744,249 201,339,632 Par value
Biaya penerbitan sukuk yang belum Unamortized sharia bonds issuance
diamortisasi sebesar Rp16.709.926.052 costs of Rp16,709,926,052
(31 Desember 2025: Rp18.926.418.164) ( 988,109)( 1,128,117 ) (31 December 2025: Rp18,926,418,164)
Jumlah 198,756,140 200,211,515 Total
Bagian jangka pendek ( 51,065,068)( 51,414,165 ) Current portion
Bagian jangka panjang 147,691,072 148,797,350 Non-current portion
Informasi tambahan mengenai sukuk yang terutang Additional information related to outstanding
per 31 Maret 2026 adalah sebagai berikut: sharia bonds as of 31 March 2026 is as follows:
Pokok sukuk/ Pokok sukuk/ Jadwal pembayaran
Sharia bonds Sharia bonds pendapatan bagi
principal principal Tanggal jatuh hasil/Profit sharing Tingkat nisbah bagi
Jenis/ (dalam juta Rp/ (dalam Dolar AS/ tempo/ income payment hasil/Profit sharing
Type in million Rp) in US Dollars) Maturity date schedule ratio
Sukuk Mudharabah Seri/Series A 213,345 12,615,753 15 Juli/July 2026 Setiap triwulan 6,92% dengan indikasi
Berkelanjutan I Merdeka dimulai tanggal bagi hasil sebesar
Battery Materials Tahap I 8 Oktober 2025/ ekuivalen 7,50% per
Tahun 2025/Shelf Sukuk Quarterly start from tahun/6.92% with an
Mudharabah I Merdeka 8 October 2025 indicated profit-
Battery Materials Tranche I sharing ratio of
Year 2025 equivalent to 7.50%
per annum
Seri/Series B 386,655 22,864,112 8 Juli/July 2028 8,08% dengan indikasi
bagi hasil sebesar
ekuivalen 8,75% per
tahun/8.08% with an
indicated profit-
sharing ratio of
equivalent to 8.75%
per annum
Sukuk Mudharabah Seri/Series A 651,680 38,535,864 27 Agustus/ Setiap triwulan 20,51% dengan
Berkelanjutan I Merdeka August 2026 dimulai tanggal indikasi bagi hasil
Battery Materials Tahap II 20 November 2025/ sebesar ekuivalen
Tahun 2025/Shelf Sukuk Quarterly start from 7,50% per
Mudharabah I Merdeka 20 November 2025 tahun/20.51% with an
Battery Materials Tranche II indicated profit-
Year 2025 sharing ratio of
equivalent to 7.50%
per annum
Seri/Series B 857,625 50,714,032 20 Agustus/ 23,93% dengan
August 2028 indikasi bagi hasil
sebesar ekuivalen
8,75% per
tahun/23.93% with an
indicated profit-
sharing ratio of
equivalent to 8.75%
per annum
Seri/Series C 268,570 15,881,379 20 Agustus/ 25,30% dengan
August 2030 indikasi bagi hasil
sebesar ekuivalen
9,25% per
tahun/25.30% with an
indicated profit-
sharing ratio of
equivalent to 9.25%
per annum
Sukuk Mudharabah Seri/Series A 379,000 22,411,448 9 Desember/ Setiap triwulan 11,54% dengan
Berkelanjutan I Merdeka December 2028 dimulai tanggal indikasi bagi hasil
Battery Materials Tahap III 9 Maret 2026/ sebesar ekuivalen
Tahun 2025/Shelf Sukuk Quarterly start from 7,50% per
Mudharabah I Merdeka 9 March 2026 tahun/11.54% with an
Battery Materials Tranche III indicated profit-
Year 2025 sharing ratio of
equivalent to 7.50%
per annum
Seri/Series B 621,000 36,721,661 9 Desember/ 12,69% dengan
December 2030 indikasi bagi hasil
sebesar ekuivalen
8,25% per
tahun/12.69% with an
indicated profit-
sharing ratio of
equivalent to 8.25%
per annum
Page 98
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/87 Exhibit E/87
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
20. SUKUK (Lanjutan) 20. SHARIA BONDS (Continued)
Pada tanggal 30 Juni 2025, Perusahaan telah On 30 June 2025, the Company received
mendapatkan pemberitahuan efektifnya notification of the effectiveness of the
pernyataan pendaftaran dari OJK dalam rangka registration statement from the OJK in regards to
Penawaran Umum Sukuk Mudharabah the Public Offering of Shelf Sukuk Mudharabah I
Berkelanjutan I dengan target dana yang dihimpun with fund target of Rp4,000,000,000,000 (“Shelf
sebesar Rp4.000.000.000.000 (“Sukuk Mudharabah Sukuk Mudharabah I”).
Berkelanjutan I”).
Pada tanggal 8 Juli 2025, Perusahaan melakukan On 8 July 2025, the Company conducted Public
Penawaran Umum Sukuk Mudharabah Offering of Shelf Sukuk Mudharabah I Merdeka
Berkelanjutan I Merdeka Battery Materials Tahap I Battery Materials Tranche I Year 2025 with a
Tahun 2025 dengan jumlah pokok sebesar principal amount of Rp600,000,000,000, issued
Rp600.000.000.000 yang diterbitkan tanpa warkat, scripless, and offered at 100% in two series.
dan ditawarkan dengan nilai 100% dalam dua seri. Repayment of each series of Sukuk Mudharabah
Pelunasan masing-masing seri Sukuk Mudharabah will be made in full (bullet payment) at maturity.
akan dilakukan secara penuh (bullet payment)
pada saat jatuh tempo.
Hasil bersih dari penerbitan Sukuk Mudharabah ini The net proceeds from this issuance of Sukuk
akan digunakan untuk pemberian pembiayaan Mudharabah were used for provide financing
dengan menggunakan akad mudharabah kepada using a sukuk mudharabah terms to MTI which
MTI yang selanjutnya akan digunakan oleh MTI will then be used by MTI for its business activities
untuk kegiatan usahanya untuk menggantikan to replace the funds obtained from the
dana yang diperoleh dari Perjanjian Fasilitas US$260,000,000 Facility Agreement by repaying
US$260.000.000 dengan membayar sebagian pokok part of the loan principal previously used to
pinjaman yang dananya telah digunakan untuk finance its capital expenditures, construction
pembiayaan belanja modal, biaya konstruksi dan costs, and project operating costs.
biaya operasional proyek.
Pada tanggal 20 Agustus 2025, Perusahaan On 20 August 2025, the Company issued Public
melakukan Penawaran Umum Sukuk Mudharabah Offering of Shelf Sukuk Mudharabah I Merdeka
Berkelanjutan I Merdeka Battery Materials Tahap II Battery Materials Tranche II Year 2025 with a
Tahun 2025 dengan jumlah pokok sebesar principal amount of Rp1,777,875,000,000, issued
Rp1.777.875.000.000, diterbitkan tanpa warkat, scripless, and offered at 100% in three series.
dan ditawarkan dengan nilai 100% dalam tiga seri. Repayment of each series of Sukuk Mudharabah
Pelunasan masing-masing seri Sukuk Mudharabah will be made in full (bullet payment) at maturity.
akan dilakukan secara penuh (bullet payment)
pada saat jatuh tempo.
Hasil bersih dari penerbitan Sukuk Mudharabah ini The net proceeds from this issuance of Sukuk
akan digunakan untuk pemberian pembiayaan Mudharabah were used for provide financing using
dengan menggunakan akad mudharabah kepada a sukuk mudharabah terms to MTI which will then
MTI yang selanjutnya akan digunakan oleh MTI be used by MTI for its business activities to replace
untuk kegiatan usahanya untuk menggantikan dana the funds obtained from the US$260,000,000
yang diperoleh dari Perjanjian Fasilitas Facility Agreement by repaying part of the loan
US$260.000.000 dengan membayar sebagian pokok principal previously used to finance its capital
pinjaman yang dananya telah digunakan untuk expenditures, construction costs, and project
pembiayaan belanja modal, biaya konstruksi dan operating costs.
biaya operasional proyek.
Pada tanggal 9 Desember 2025, Perusahaan On 9 December 2025, the Company issued Public
melakukan Penawaran Umum Sukuk Mudharabah Offering of Shelf Sukuk Mudharabah I Merdeka
Berkelanjutan I Merdeka Battery Materials Tahap III Battery Materials Tranche III Year 2025 with a
Tahun 2025 dengan jumlah pokok sebesar principal amount of Rp1,000,000,000,000, issued
Rp1.000.000.000.000, diterbitkan tanpa warkat, scripless, and offered at 100% in two series.
dan ditawarkan dengan nilai 100% dalam dua seri. Repayment of each series of Sukuk Mudharabah
Pelunasan masing-masing seri Sukuk Mudharabah will be made in full (bullet payment) at maturity.
akan dilakukan secara penuh (bullet payment)
pada saat jatuh tempo.
Page 99
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/88 Exhibit E/88
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
20. SUKUK (Lanjutan) 20. SHARIA BONDS (Continued)
Hasil bersih dari penerbitan Sukuk Mudharabah ini The net proceeds from this issuance of Sukuk
akan digunakan untuk pemberian pembiayaan Mudharabah were used to provide financing using
dengan menggunakan akad mudharabah kepada a sukuk mudharabah terms to MTI which will then
MTI yang selanjutnya akan digunakan oleh MTI be used by MTI for its business activities to replace
untuk kegiatan usahanya untuk menggantikan dana the funds obtained from the US$50,000,000
yang diperoleh dari fasilitas pinjaman berdasarkan Project Expansion Facility Agreement by repaying
Perjanjian Fasilitas Ekspansi Proyek US$50.000.000 all of the loan principal used for the design,
dengan membayar seluruh pokok pinjaman yang procurement, construction, and planned
dananya telah digunakan untuk perancangan, development of MTI’s copper processing facilities
pengadaan, konstruksi dan rencana pengembangan to produce export-grade copper, with the
fasilitas pengolahan tembaga milik MTI untuk remainder to be used for other general purposes,
memproduksi tembaga yang dapat diekspor dan including but not limited to working capital needs
sisanya untuk keperluan korporasi umum lainnya, such as operating expenses, employee costs,
termasuk namun tidak terbatas pada kebutuhan professional services fees, and tax expenses.
modal kerja, seperti biaya operasional, biaya
karyawan, biaya jasa profesional, dan biaya pajak.
Berdasarkan Perjanjian Perwaliamanatan, Based on Trusteeship Agreement, the Company will
Perusahaan tidak akan melakukan hal-hal berikut not conduct the following activities without the
tanpa persetujuan tertulis dari Wali Amanat: written consent of the Trustee:
• Melakukan penggabungan atau peleburan atau • • Conduct merger or acquisition, except for
pengambilalihan, kecuali yang dilakukan dalam conduct internal restructuring of the Group
rangka restrukturisasi internal Grup dan and investment company, or which conducted
perusahaan investasi atau yang dilakukan with an entity of which (i) the business
terhadap perusahaan yang (i) bidang usahanya activities same or in line with the Group and
sama atau sejalan dengan Grup dan perusahaan investment company; (ii) other business
investasi; (ii) bidang usaha lain yang tercakup activities within or in line with nickel industry
dalam atau sejalan dengan industri nikel dan and its derivative products; and/or (iii) has
produk turunannya; dan/atau (iii) bidang usaha other business activities covered in electric
lain yang tercakup dalam industri rantai nilai vehicle battery value chain, that do not cause
bahan baku baterai kendaraan bermotor listrik, material adverse impact, provided that the
hal mana yang tidak menyebabkan dampak terms of sukuk mudharabah under the
merugikan material, dengan ketentuan semua Trusteeship Agreement and other related
syarat kondisi sukuk mudharabah berdasarkan documents remain valid and binding
Perjanjian Perwaliamanatan serta dokumen throughout the surviving company.
lain terkait tetap berlaku dan mengikat
sepenuhnya terhadap perusahaan penerus.
• Melakukan peminjaman utang baru yang • • Borrowing new debt that is pari-passu ranking
memiliki kedudukan lebih tinggi dari kedudukan higher than the ranking of debt arising from
utang yang timbul berdasarkan sukuk sukuk mudharabah, except for (i) the proceeds
mudharabah, kecuali (i) hasil dana dari utang from the new debt are used for the Group’s
baru tersebut digunakan untuk kegiatan usaha daily business activities or for refinancing
sehari-hari Grup atau untuk tujuan pembiayaan purposes of the existing debt or for the
kembali atas utang yang telah ada atau untuk purpose of repurchasing the sukuk
pembelian kembali sukuk mudharabah dengan mudharabah subject to the provisions under
tunduk pada ketentuan Perjanjian the Trusteeship Agreement and/or (ii) debt
Perwaliamanatan dan/atau (ii) pinjaman untuk for project financing subject to provisions
project financing dengan memperhatikan under the Trusteeship Agreement.
ketentuan dalam Perjanjian Perwaliamanatan.
• Menjaminkan dan/atau membebani aktiva • • Guarantee and/or charge the assets including
termasuk hak atas pendapatan Perusahaan, the Company’s income, both those that exist
baik yang sekarang ada maupun yang akan currently and those that will be obtained in
diperoleh di masa yang akan datang, kecuali the future, except for the guarantee that is
jaminan yang diberikan atas utang yang given for the debt in the second point above
termasuk dalam poin kedua di atas dan/atau and/or security or encumbrances for project
penjaminan atau pembebanan untuk project financing.
financing.
Page 100
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/89 Exhibit E/89
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
20. SUKUK (Lanjutan) 20. SHARIA BONDS (Continued)
• Melakukan pengalihan aset dalam satu • • Transfer assets to one transaction or series of
transaksi atau beberapa rangkaian transaksi transactions in current financial year with
dalam satu tahun buku berjalan yang total more than 10% from the total assets of
jumlahnya melebihi 10% dari total aset Grup the Group and investment company, except for
dan perusahaan investasi, kecuali untuk certain transactions under the Trusteeship
transaksi-transaksi tertentu sebagaimana Agreement.
diatur di dalam Perjanjian Perwaliamanatan.
• Mengubah bidang usaha Perusahaan kecuali • • Change the scope of the Company’s activities
perubahan tersebut merupakan penambahan except for those changes are additional new
bidang usaha baru selain dari bidang usaha yang business activities outside of existing business
telah ada di dalam anggaran dasar Perusahaan activities stipulated in the existing articles of
saat ini dengan ketentuan dalam poin pertama association of the Company with the terms in
di atas. accordance with the first point above.
• Mengurangi modal dasar, modal ditempatkan • • Reduce the Company’s authorized capital,
dan disetor Perusahaan. issued and fully paid-up capital.
• Membayar, membuat atau menyatakan • • Pay, make or declare the distribution of
pembagian dividen pada tahun buku dividends in related financial year while the
Perusahaan pada saat Perusahaan lalai dalam Company is negligent to repay outstanding
melakukan pembayaran jumlah terutang. amounts.
• Mengadakan segala bentuk kerjasama, bagi hasil • • Conduct any form of cooperation, profit share
atau perjanjian serupa lainnya di luar kegiatan or other similar agreements outside of the
usaha sehari-hari Perusahaan atau perjanjian Company’s daily business activities or
manajemen atau perjanjian serupa lainnya yang management agreements or other similar
mengakibatkan kegiatan/operasi Perusahaan agreements which resulting to the Company’s
sepenuhnya diatur oleh pihak lain dan activities being fully regulated by other
menimbulkan dampak merugikan material, parties and causing material adverse impact,
kecuali perjanjian yang dibuat oleh Perusahaan except for the agreement made by the
dengan para pemegang sahamnya dan perjanjian Company with its shareholder and loan
pinjaman dengan pihak ketiga dimana agreement with third party in which the
Perusahaan bertindak sebagai debitur. Company is acting as the borrower.
Perusahaan berkewajiban mempertahankan rasio The Company is obliged to meet the financial ratio
keuangan utang neto konsolidasian : EBITDA of consolidated net debt : consolidated EBITDA no
konsolidasian tidak lebih dari 5 : 1 selama jangka more than 5 : 1 during the terms period of the sukuk
waktu sukuk mudharabah dan/atau selama seluruh mudharabah and/or all total principal and profit
jumlah pokok dan pendapatan bagi hasil sukuk sharing income sukuk mudharabah or other
mudharabah atau kewajiban lainnya belum obligation are not fully paid yet. Financial ratio is
seluruhnya dibayarkan. Rasio keuangan ini dihitung calculated every year end.
setiap akhir tahun.
Sukuk Mudharabah yang diterbitkan telah Sukuk Mudharabah issued are listed in the IDX on
dicatatkan di BEI masing-masing pada tanggal 9 Juli 9 July 2025, 21 August 2025, and 10 December 2025,
2025, 21 Agustus 2025, dan 10 Desember 2025 dan respectively, and denominated in Rupiah, and have
diterbitkan dalam mata uang Rupiah, serta obtained idA(sy) (Single A Syariah) rating from
mendapatkan peringkat idA(sy) (Single A Syariah) Pefindo. The Company engaged PT Bank Rakyat
dari Pefindo. Perusahaan telah menunjuk PT Bank Indonesia (Persero) Tbk, a third party, as Trustee to
Rakyat Indonesia (Persero) Tbk, pihak ketiga, act as the intermediaries between the Company and
sebagai Wali Amanat untuk bertindak sebagai the Sukuk Mudharabah holders.
perantara antara Perusahaan dan Pemegang Sukuk
Mudharabah.
Page 101
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/90 Exhibit E/90
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
21. PROVISI REHABILITASI, REKLAMASI DAN 21. PROVISION FOR REHABILITATION, RECLAMATION
PENUTUPAN TAMBANG AND MINE CLOSURE
31 Maret/ 31 Desember/
March 2026 December 2025
Saldo awal 9,946,835 7,252,804 Beginning balance
Penambahan 107,304 4,996,171 Additions
Pembayaran ( 473,228)( 2,420,182) Repayment
Akresi (Catatan 28) 110,699 303,086 Accretion (Note 28)
Perubahan selisih kurs ( 70,833)( 185,044) Foreign exchange difference
Jumlah 9,620,777 9,946,835 Total
Penambahan provisi untuk periode tiga bulan yang The additions of provision for the three-month
berakhir pada tanggal 31 Maret 2026 dan untuk period ended 31 March 2026 and for the year ended
tahun yang berakhir pada tanggal 31 Desember 31 December 2025 were charged to cost of revenue
2025 dibebankan ke beban pokok pendapatan dan and capitalized to mining properties.
dikapitalisasikan ke properti pertambangan.
Provisi rehabilitasi, reklamasi dan penutupan Provision for rehabilitation, reclamation and mine
tambang merupakan provisi yang dibuat closure represents the provision set up by the Group
oleh Grup untuk memenuhi Peraturan Menteri to comply with the Ministerial Regulation of
Lingkungan Hidup dan Kehutanan No. P.59/ Environment and Forestry No. P.59/MENLHK/
MENLHK/SETJEN/KUM.1/10/2019 dan PP No. 78 SETJEN/KUM.1/10/2019 and GR No. 78 (Note 3) for
(Catatan 3) untuk rehabilitasi daerah aliran sungai, rehabilitation of the watershed area, reclamation
aktivitas reklamasi dan penutupan tambang. and post-mining activities.
Manajemen berkeyakinan bahwa keseluruhan Management believes that the provision for
provisi rehabilitasi, reklamasi dan penutupan rehabilitation, reclamation and mine closure as at
tambang pada tanggal 31 Maret 2026 dan 31 March 2026 and 31 December 2025 are sufficient
31 Desember 2025 telah cukup untuk memenuhi to meet the obligations as stipulated in the Minister
kewajiban sebagaimana yang diatur pada Peraturan of Environment and Forestry Regulation.
Menteri Lingkungan Hidup dan Kehutanan di atas.
22. MODAL SAHAM 22. SHARE CAPITAL
Susunan pemegang saham Perusahaan beserta The composition of the shareholders of the Company
persentase kepemilikannya pada tanggal and their respective ownership interest as of
31 Maret 2026 dan 31 Desember 2025 adalah 31 March 2026 and 31 December 2025 are as follows:
sebagai berikut:
Pemegang saham/ Jumlah saham/ Persentase kepemilikan/ Jumlah modal disetor/
Shareholders Number of shares Percentage of ownership Total paid-in capital
PT Merdeka Energi Nusantara 54,045,287,677 50.04% 370,222,240
Huayong International (Hong Kong) Limited 8,149,060,000 7.55% 56,976,715
PT Alam Permai 5,896,520,600 5.46% 40,392,477
Winato Kartono 2,192,848,313 2.03% 15,021,499
Anthony Kartono Tan 10,915,500 0.01% 74,774
Pemegang saham lainnya/Other shareholders 37,700,787,810 34.91% 257,104,939
Jumlah/Total 107,995,419,900 100.00% 739,792,644
Page 102
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/91 Exhibit E/91
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
22. MODAL SAHAM (Lanjutan) 22. SHARE CAPITAL (Continued)
Saham biasa memberikan hak kepada pemegangnya Ordinary shares entitle the holder to participate
untuk memperoleh dividen dan hasil dari in dividends and the proceeds on winding up of the
pembubaran perusahaan sesuai dengan proporsi Company in proportion to the number of and
jumlah dan jumlah yang dibayarkan atas saham amounts paid on the shares held.
yang dimiliki.
Berdasarkan Akta Pernyataan Keputusan Rapat Based on Deed of Statement of Meeting Resolutions
Perubahan Anggaran Dasar Perusahaan No. 190 on the Amendments to the Company’s Articles of
tertanggal 21 Juni 2024, yang dibuat di hadapan Association No. 190 dated 21 June 2024, drawn up
Jose Dima Satria, S.H., M.Kn., Notaris di Kota before Jose Dima Satria, S.H., M.Kn., Notary in
Administrasi Jakarta Selatan, yang telah South Jakarta Administrative City, which has
memperoleh persetujuan dari Menteri Hukum dan obtained approval from the Minister of Law and
Hak Asasi Manusia Republik Indonesia sebagaimana Human Rights of the Republic of Indonesia as
ternyata dalam Keputusan No. AHU- stated in Decree No. AHU-0037618.AH.01.02.Tahun
0037618.AH.01.02.Tahun 2024 tanggal 25 Juni 2024 2024 dated 25 June 2024 and has been notified to
dan telah diberitahukan kepada Menteri Hukum dan the Minister of Law and Human Rights of the
Hak Asasi Manusia Republik Indonesia yang Republic of Indonesia as evidenced by Notification
dibuktikan dengan Surat Penerimaan Receipt of Amendment to the Articles of
Pemberitahuan Perubahan Anggaran Dasar No. Association No. AHU-AH.01.03-0158280 dated
AHU-AH.01.03-0158280 tertanggal 25 Juni 2024, 25 June 2024, the shareholders decided among
para pemegang saham telah memutuskan antara others to approve the amendment of article 4
lain menyetujui perubahan pasal 4 ayat 1 Anggaran paragraph 1 of the Company’s Articles of
Dasar Perusahaan sehubungan dengan peningkatan Association in relation to the authorized capital of
modal dasar Perusahaan dari semula the Company to the increase of the authorized
Rp35.000.000.000.000 terbagi atas capital of the Company from Rp35,000,000,000,000
350.000.000.000 saham menjadi sejumlah divided into 350,000,000,000 shares into the
Rp43.000.000.000.000 terbagi atas 430.000.000.000 amount of Rp43,000,000,000,000 divided into
saham, masing-masing saham bernilai nominal 430,000,000,000 shares, at par value of Rp100 per
Rp100. share.
Tujuan perubahan modal saham yang dilakukan The purpose of changes in share capital performed
oleh Perusahaan adalah untuk investasi dan modal by the Company is for investment and working
kerja. capital.
23. TAMBAHAN MODAL DISETOR – BERSIH 23. ADDITIONAL PAID-IN CAPITAL – NET
31 Maret/ 31 Desember/
March 2026 December 2025
Tambahan modal disetor melalui IPO 537,119,433 537,119,433 Additional paid-in capital from IPO
Tambahan modal disetor atas penerbitan Additional paid-in capital from
saham 275,431,975 275,431,975 issuance of shares
Biaya emisi saham ( 16,463,618)( 16,463,618) Share issuance costs
Selisih nilai transaksi restrukturisasi entitas Difference in value from transactions of
sepengendali ( 30,585,189)( 30,585,189) entities under common control
Cadangan pembayaran berbasis saham 145,297 137,187 Share-based payments reserve
Saldo akhir 765,647,898 765,639,788 Ending balance
Page 103
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/92 Exhibit E/92
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
24. KEPENTINGAN NON-PENGENDALI 24. NON-CONTROLLING INTERESTS
31 Maret/March 2026
Uang muka setoran Penghasilan/
modal dari kepentingan (kerugian)
non-pengendali/ Bagian atas komprehensif
Advances for share laba/(rugi) neto/ lain/
capital subscriptions Share in net Other
Saldo awal/ from non-controlling profit/ comprehensive Saldo akhir/
Beginning balance interests (loss) income/(loss) Ending balance
ZHN 310,251,042 - 18,969,827 - 329,220,869 ZHN
SCM 228,109,327 4,410,000 22,237,305 ( 128) 254,756,504 SCM
CSI 83,820,196 - 5,220,251 1 89,040,448 CSI
BSI 94,355,956 - 3,228,690 - 97,584,646 BSI
HNMI 33,735,583 - 6,002,584 - 39,738,167 HNMI
MTI 14,114,743 - ( 3,650,218) ( 1) 10,464,524 MTI
Lain-lain 40,595 - ( 376) 307 40,526 Others
Jumlah 764,427,442 4,410,000 52,008,063 179 820,845,684 Total
31 Desember/December 2025
Uang muka setoran Penghasilan/
modal dari kepentingan (kerugian)
non-pengendali/ Bagian atas komprehensif
Advances for share Pengurangan laba/(rugi) neto/ lain/
capital subscriptions modal/ Share in net Other
Saldo awal/ from non-controlling Share capital Dividen/ profit/ comprehensive Saldo akhir/
Beginning balance interests reduction Dividend (loss) income/(loss) Ending balance
ZHN 346,416,142 - ( 46,506,800) ( 19,446,582) 29,784,384 3,898 310,251,042 ZHN
SCM 176,092,647 23,030,000 - - 28,952,733 33,947 228,109,327 SCM
CSI 110,837,039 - - ( 37,529,455) 10,509,707 2,905 83,820,196 CSI
BSI 107,898,825 - - ( 16,966,000) 3,419,453 3,678 94,355,956 BSI
HNMI 37,401,751 - - ( 4,031,386) 364,950 268 33,735,583 HNMI
MTI 16,053,766 - - - ( 1,934,081) ( 4,942 ) 14,114,743 MTI
Lain-lain ( 2,900) 190,673 - ( 1,898) ( 149,926) 4,646 40,595 Others
Jumlah 794,697,270 23,220,673 ( 46,506,800) ( 77,975,321) 70,947,220 44,400 764,427,442 Total
Pengurangan modal Share capital reduction
Berdasarkan Akta Pernyataan Keputusan Sirkuler Based on Deed of Statement of Circular Resolution
Sebagai Pengganti Rapat Umum Pemegang Saham in Lieu of Extraordinary General Meeting of
Luar Biasa ZHN No. 26 tertanggal 22 Oktober 2025, Shareholders of ZHN No. 26 dated 22 October 2025,
dibuat di hadapan Darmawan Tjoa, S.H., S.E., drawn up before Darmawan Tjoa, S.H., S.E., Notary
Notaris di Jakarta, ZHN menyetujui untuk in Jakarta, ZHN approved the reduction of the
melakukan pengurangan modal dasar, modal authorized, issued and paid-up capital, the removal
ditempatkan dan disetor, penghapusan saham of Series B shares from the ZHN’s class of shares,
Seri B dari kelas saham ZHN, dan reklasifikasi saham and the reclassification of Series A shares as the sole
Seri A sebagai satu-satunya kelas saham yang class of shares issued. Share capital reduction
diterbitkan. Pengembalian modal dibagikan kepada distributed to the shareholders proportionally in
para pemegang saham secara proporsional sesuai accordance with the number of shareholdings of
jumlah kepemilikan saham masing-masing each shareholder. As of 31 December 2025, total
pemegang saham. Pada tanggal 31 Desember 2025, unpaid share capital reduction to SHPL amounting to
jumlah pengurangan modal yang belum dibayar US$46,506,800. Such share capital reduction has
kepada SHPL sebesar US$46.506.800. Pengurangan been fully paid in January 2026.
modal tersebut sudah dibayarkan sepenuhnya pada
bulan Januari 2026.
Page 104
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/93 Exhibit E/93
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
24. KEPENTINGAN NON-PENGENDALI (Lanjutan) 24. NON-CONTROLLING INTERESTS (Continued)
Dividen Dividend
Pada bulan Juni 2025, BSI, CSI dan ZHN menyetujui In June 2025, BSI, CSI and ZHN agreed to distribute
untuk mendistribusikan dividen final untuk tahun final dividends for the financial year of 2024
buku 2024 masing-masing sebesar US$25.101.326, amounting to US$25,101,326, US$48,274,000 and
US$48.274.000 dan US$49.810.886 dimana masing- US$49,810,886, respectively, whereby US$101,326,
masing sebesar US$101.326, US$7.064.672 dan US$7,064,672 and US$10,839,780, respectively,
US$10.839.780 telah dibagikan dan dibayarkan were distributed and paid as dividend since
sebagai dividen sejak bulan November sampai November to December 2024. In July 2025, BSI, CSI
dengan bulan Desember 2024. Pada bulan Juli 2025, and ZHN paid the final dividend to
BSI, CSI dan ZHN membayarkan dividen final kepada MIN and non-controlling interests amounting to
MIN dan kepentingan non-pengendali masing- US$52,695,397 and US$52,485,037, respectively.
masing sebesar US$52.695.397 dan US$52.485.037.
Pada bulan Desember 2025, BSI dan CSI menyetujui In December 2025, BSI and CSI agreed to distribute
untuk mendistribusikan dividen interim untuk the interim dividends for the six-month period
periode enam bulan yang berakhir 30 Juni 2025 ended 30 June 2025 amounting to US$9,000,000 and
masing-masing sebesar US$9.000.000 dan US$34,000,000, respectively. The interim dividend
US$34.000.000. Dividen interim telah dibayarkan has paid to MIN and non-controlling interests
kepada MIN dan kepentingan non-pengendali amounting to US$21,543,000 and US$5,339,300,
masing-masing sebesar US$21.543.000 dan respectively. Dividend distributed to the
US$5.339.300. Dividen dibagikan kepada para shareholders proportionally in accordance with the
pemegang saham secara proporsional sesuai jumlah number of shareholdings of each shareholder. The
kepemilikan saham masing-masing pemegang remaining dividends payable CSI to non-controlling
saham. Sisa utang dividen CSI kepada kepentingan interests amounting to US$16,117,700 has been paid
non-pengendali sebesar US$16.117.700 telah in January 2026.
dibayarkan pada bulan Januari 2026.
Pada bulan Juni 2025, HNMI menyetujui untuk In June 2025, HNMI agreed to distribute final
mendistribusikan dividen final untuk tahun buku dividends for the financial year of 2024 amounting
2024 sebesar US$4.031.386 dimana MMI selaku to US$4,031,386 whereby MMI in its capacity as
Pemegang Saham HNMI menyetujui pengalihan shareholders of HNMI, agrees to assign all of its
seluruh hak, kepemilikan, dan kepentingan dalam right, title, and interest in and to its allocable
dan terhadap pembagian porsi dividennya kepada portion of the dividend to HNMI’s non-controlling
kepentingan non-pengendali HNMI. Pada bulan Juli interest. In July 2025, HNMI paid the final dividend
2025, HNMI membayarkan dividen final kepada to non-controlling interest amounting to
kepentingan non-pengendali sebesar US$4.031.386. US$4,031,386.
Pada tanggal 31 Maret 2026, Grup tidak memiliki As at 31 March 2026, the Group did not have any
saldo utang dividen (31 Desember 2025: outstanding dividends payable (31 December 2025:
US$16.117.700) kepada kepentingan non- US$16,117,700) to non-controlling interests.
pengendali.
Page 105
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/94 Exhibit E/94
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
24. KEPENTINGAN NON-PENGENDALI (Lanjutan) 24. NON-CONTROLLING INTERESTS (Continued)
Pada tanggal 31 Maret 2026, ringkasan informasi As at 31 March 2026, the summary of financial
keuangan untuk setiap entitas anak yang information for each subsidiary that has material
mempunyai kepentingan non-pengendali yang non-controlling interests to the Group was as
material terhadap Grup adalah sebagai berikut: follows:
ZHN SCM BSI CSI HNMI MTI
Ringkasan laporan posisi Summarized statement
keuangan of financial position
Lancar: Current:
Aset 233,375,806 225,442,379 88,017,121 82,706,677 160,435,807 207,609,312 Assets
Liabilitas ( 40,328,712 ) ( 90,351,742 ) ( 17,279,966 ) ( 21,577,428 )( 85,185,011) ( 67,993,012) Liabilities
Jumlah aset lancar Total net current
bersih 193,047,094 135,090,637 70,737,155 61,129,249 75,250,796 139,616,300 assets
Tidak lancar: Non-current:
Aset 313,053,894 481,678,146 133,482,312 117,577,452 44,793,914 861,411,333 Assets
Liabilitas ( 45,133,359 ) ( 92,778,543) ( 143,989 ) ( 176,271 )( 15,399,288) ( 803,015,714) Liabilities
Jumlah aset tidak lancar Total net non-current
bersih 267,920,535 388,899,603 133,338,323 117,401,181 29,394,626 58,395,619 assets
Aset bersih 460,967,629 523,990,240 204,075,478 178,530,430 104,645,422 198,011,919 Net assets
Summarized statement
Ringkasan laporan laba rugi of profit or loss and
dan penghasilan other comprehensive
komprehensif lain income
Pendapatan 150,105,232 158,308,857 61,472,508 58,085,276 123,658,382 16,431,121 Revenue
Laba/(rugi) sebelum Profit/(loss)
pajak penghasilan 38,111,861 59,232,024 12,961,095 11,755,195 15,087,034 ( 18,251,093) before income tax
Laba/(rugi) periode Profit/(loss)
berjalan 38,015,686 46,063,594 12,914,746 10,461,384 15,030,415 ( 18,251,093) for the period
Penghasilan/(kerugian) Other comprehensive
komprehensif lain - ( 261 ) - - - - income/(loss)
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif periode income/(loss) for
berjalan 38,015,686 46,063,333 12,914,746 10,461,384 15,030,415 ( 18,251,093) the period
Jumlah penghasilan/ Total comprehensive
(kerugian) income/(loss)
komprehensif yang attributable to
dapat diatribusikan ke owners of the
entitas induk 38,015,686 46,063,333 12,914,746 10,461,384 15,030,415 ( 18,251,093) parent entity
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dapat diatribusikan ke attributable to
kepentingan non- non-controlling
pengendali - - - - - - interest
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dialokasikan untuk attributable to non-
kepentingan non- controlling interests
pengendali Perusahaan 18,969,827 22,571,033 6,444,412 5,220,252 6,012,166 ( 3,650,219) of the Company
Intercompany
Eliminasi antar entitas - ( 333,856 ) ( 3,215,722 ) - ( 9,582) - eliminations
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dialokasikan untuk attributable to non-
kepentingan non- controlling interests
pengendali Perusahaan 18,969,827 22,237,177 3,228,690 5,220,252 6,002,584 ( 3,650,219) of the Company
Page 106
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/95 Exhibit E/95
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
24. KEPENTINGAN NON-PENGENDALI (Lanjutan) 24. NON-CONTROLLING INTERESTS (Continued)
Pada tanggal 31 Desember 2025, ringkasan As at 31 December 2025, the summary of financial
informasi keuangan untuk setiap entitas anak yang information for each subsidiary that has material
mempunyai kepentingan non-pengendali yang non-controlling interests to the Group was as
material terhadap Grup adalah sebagai berikut: follows:
ZHN SCM BSI CSI HNMI MTI
Ringkasan laporan posisi Summarized statement
keuangan of financial position
Lancar: Current:
Aset 246,731,311 180,695,034 72,409,713 88,962,206 123,843,413 203,751,655 Assets
Liabilitas ( 143,102,458 ) ( 76,494,899 ) ( 17,437,124 ) ( 41,527,680 )( 65,772,728) ( 51,079,150) Liabilities
Jumlah aset lancar Total net current
bersih 103,628,853 104,200,135 54,972,589 47,434,526 58,070,685 152,672,505 assets
Tidak lancar: Non-current:
Aset 319,509,201 460,919,700 136,322,734 120,799,011 46,616,979 853,347,618 Assets
Liabilitas ( 186,111 ) ( 91,602,928) ( 134,592 ) ( 164,491 )( 15,072,658) ( 835,446,411) Liabilities
Jumlah aset tidak lancar Total net non-current
bersih 319,323,090 369,316,772 136,188,142 120,634,520 31,544,321 17,901,207 assets
Aset bersih 422,951,943 473,516,907 191,160,731 168,069,046 89,615,006 170,573,712 Net assets
Summarized statement
Ringkasan laporan laba rugi of profit or loss and
dan penghasilan other comprehensive
komprehensif lain income
Pendapatan 489,595,881 396,418,901 148,150,902 203,244,133 268,144,687 88,698,534 Revenue
Laba/(rugi) sebelum Profit/(loss)
pajak penghasilan 60,023,441 68,853,476 8,167,968 21,164,737 1,490,038 ( 9,670,408) before income tax
Laba/(rugi) tahun Profit/(loss)
berjalan 59,688,143 53,392,920 7,969,030 21,061,452 1,008,195 ( 9,670,408) for the year
Penghasilan/(kerugian) Other comprehensive
komprehensif lain 7,812 69,278 7,370 5,823 669 ( 24,709) income/(loss)
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif tahun income/(loss) for
berjalan 59,695,955 53,462,198 7,976,400 21,067,275 1,008,864 ( 9,695,117) the year
Jumlah penghasilan/ Total comprehensive
(kerugian) income/(loss)
komprehensif yang attributable to
dapat diatribusikan ke owners of the
entitas induk 59,695,955 53,462,199 7,976,400 21,067,275 1,008,864 ( 9,695,117) parent entity
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dapat diatribusikan ke attributable to
kepentingan non- non-controlling
pengendali - ( 1) - - - - interest
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dialokasikan untuk attributable to non-
kepentingan non- controlling interests
pengendali Perusahaan 29,788,282 26,196,477 3,980,195 10,512,612 403,546 ( 1,939,023) of the Company
Intercompany
Eliminasi antar entitas - 2,790,203 ( 557,064 ) - ( 38,328) - eliminations
Jumlah penghasilan/
(kerugian) Total comprehensive
komprehensif yang income/(loss)
dialokasikan untuk attributable to non-
kepentingan non- controlling interests
pengendali Perusahaan 29,788,282 28,986,680 3,423,131 10,512,612 365,218 ( 1,939,023) of the Company
Page 107
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/96 Exhibit E/96
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
25. PENDAPATAN USAHA 25. REVENUE
31 Maret/ 31 Maret/
March 2026 March 2025
NPI NPI
Pihak ketiga 208,190,508 188,745,490 Third parties
Nikel matte Nickel matte
Pihak ketiga 123,658,383 134,720,494 Third parties
Bijih nikel limonit Limonite nickel ore
Pihak ketiga 76,476,932 31,832,892 Third parties
Pihak berelasi (Catatan 33) 20,518,742 - Related parties (Note 33)
Sub-jumlah 96,995,674 31,832,892 Sub-total
Lain-lain Others
Pihak ketiga 24,342,842 10,811,800 Third parties
Pihak berelasi (Catatan 33) 1,946,643 - Related parties (Note 33)
Sub-jumlah 26,289,485 10,811,800 Sub-total
Jumlah 455,134,050 366,110,676 Total
Rincian pelanggan yang memiliki transaksi Details of customers with revenue transactions that
pendapatan lebih dari 10% dari jumlah pendapatan represent more than 10% of the total revenue are as
usaha adalah sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Jumlah/ Jumlah/
Amount % Amount %
ITSS 132,076,876 29.02 181,851,420 49.67 ITSS
Mercuria 123,658,383 27.17 - - Mercuria
HNC 73,110,909 16.06 31,832,892 8.69 HNC
PT CNGR Ding Xing New Energy - - 134,720,494 36.80 PT CNGR Ding Xing New Energy
Jumlah 328,846,168 348,404,806 Total
Page 108
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/97 Exhibit E/97
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
26. BEBAN POKOK PENDAPATAN 26. COST OF REVENUE
31 Maret/ 31 Maret/
March 2026 March 2025
Biaya manufaktur 265,958,276 275,437,747 Manufacturing costs
Biaya pertambangan 77,854,962 42,739,851 Mining costs
Beban penyusutan (Catatan 10 dan 11) 22,949,795 13,151,677 Depreciation expense (Notes 10 and 11)
Amortisasi properti pertambangan Amortization of mining properties
(Catatan 12) 6,508,761 6,117,714 (Note 12)
Royalti 20,791,441 5,097,774 Royalties
Amortisasi aset takberwujud 50,345 37,333 Amortization of intangible assets
Pekerjaan dalam proses: Work in progress:
Pada awal periode 32,764,414 23,406,462 At the beginning of the period
Pada akhir periode (Catatan 6) ( 37,026,199)( 33,403,565) At the end of the period (Note 6)
Barang jadi: Finished goods:
Pada awal periode 93,293,342 97,262,291 At the beginning of the period
Pada akhir periode (Catatan 6) ( 152,840,415)( 82,610,026) At the end of the period (Note 6)
Total 330,304,722 347,237,258 Total
Pembelian bahan baku yang secara individual Purchases of raw materials which individually
melebihi 10% dari jumlah pendapatan neto exceed 10% of the consolidated net revenue are as
konsolidasian adalah sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Jumlah/ Jumlah/
Amount % Amount %
ITSS 50,463,231 11.09 69,560,938 19.00 ITSS
27. BEBAN USAHA 27. OPERATING EXPENSES
31 Maret/ 31 Maret/
March 2026 March 2025
Penjualan dan pemasaran 1,313,163 1,064,876 Selling and marketing
Umum dan administrasi General and administrative
Biaya profesional 4,928,554 1,666,297 Professional fees
Biaya karyawan 3,079,464 2,142,105 Employee costs
Beban pajak dan pajak daerah 849,405 590,868 Tax and local tax expenses
Beban asuransi 360,387 714,795 Insurance expenses
Penyusutan (Catatan 10 dan 11) 237,334 220,247 Depreciation (Notes 10 and 11)
Amortisasi aset takberwujud 38,997 7,953 Amortization of intangible assets
Lain-lain 627,561 933,561 Others
Sub-jumlah 10,121,702 6,275,826 Sub-total
Jumlah 11,434,865 7,340,702 Total
Page 109
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/98 Exhibit E/98
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
28. BIAYA KEUANGAN 28. FINANCE COSTS
31 Maret/ 31 Maret/
March 2026 March 2025
Bunga atas utang obligasi dan sukuk 13,127,208 809,381 Interest on bonds payable and sharia bonds
Bunga pinjaman 3,219,441 2,082,396 Loan interest
Akresi (Catatan 21) 110,699 74,698 Accretion (Note 21)
Bunga atas liabilitas sewa (Catatan 16) 67,931 74,456 Interest on lease liabilities (Note 16)
Lain-lain 45,468 - Others
Jumlah 16,570,747 3,040,931 Total
29. BEBAN LAIN-LAIN – BERSIH 29. OTHER EXPENSES – NET
31 Maret/ 31 Maret/
March 2026 March 2025
Kerugian selisih kurs – bersih 4,640,463 4,047,116 Foreign exchange loss – net
Pendapatan sewa - bersih ( 724,676)( 848,744 ) Rental income - net
Lain-lain ( 296,078)( 324,776 ) Others
Jumlah 3,619,709 2,873,596 Total
30. PERPAJAKAN 30. TAXATION
a. Estimasi klaim pengembalian pajak a. Estimated claims for tax refund
31 Maret/ 31 Desember/
March 2026 December 2025
PPN 101,932,200 113,275,091 VAT
Pajak Penghasilan Pasal 28A 3,801,557 10,374,349 Income Tax Article 28A
105,733,757 123,649,440
b. Pajak dibayar di muka b. Prepaid taxes
31 Maret/ 31 Desember/
March 2026 December 2025
PPN 21,171,471 24,037,241 VAT
Pajak Penghasilan Badan 1,344,492 1,171,636 Corporate Income Tax
Jumlah 22,515,963 25,208,877 Total
Page 110
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/99 Exhibit E/99
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
c. Utang pajak c. Taxes payable
31 Maret/ 31 Desember/
March 2026 December 2025
Pajak Penghasilan Badan Corporate Income Tax
- Pasal 29 11,309,705 2,471,556 Article 29 -
- Pasal 25 779,191 779,191 Article 25 -
Pajak lain-lain Other taxes
- Pasal 21 1,431,830 333,811 Article 21 -
- Pasal 22 488,325 190,349 Article 22 -
- Pasal 23 975,153 1,011,916 Article 23 -
- Pasal 26 617,645 1,112,237 Article 26 -
- Pasal 4(2) 756,730 551,568 Article 4(2) -
- Pasal 15 13,925 9,629 Article 15 -
- PPN Jasa Luar Negeri 552,268 621,477 Offshore VAT -
- PPN Keluaran 9,027 8,405 VAT Out -
Jumlah 16,933,799 7,090,139 Total
d. Beban pajak penghasilan d. Income tax expense
31 Maret/ 31 Maret/
March 2026 March 2025
Beban pajak penghasilan kini ( 14,228,682)( 648,178) Current income tax expense
Manfaat/(beban) pajak penghasilan Deferred income tax
tangguhan 437,144 ( 1,109,581) benefit/(expense)
Jumlah beban pajak penghasilan Total consolidated income tax
konsolidasian ( 13,791,538)( 1,757,759) expense
Pajak atas laba sebelum pajak penghasilan The tax on consolidated profit before income
konsolidasian berbeda dengan jumlah tax differs from the theoretical amount that
teoritis yang dihitung menggunakan rata-rata would arise using the weighted average tax
tertimbang tarif pajak yang berlaku atas laba rate applicable to profit of the consolidated
masing-masing entitas anak yang dikonsolidasi subsidiaries as follows:
sebagai berikut:
31 Maret/ 31 Maret/
March 2026 March 2025
Laba sebelum pajak penghasilan
konsolidasian 95,748,086 7,902,877 Consolidated profit before income tax
Pajak dihitung dengan tarif pajak yang
berlaku 21,064,579 1,738,611 Tax calculated at applicable tax rates
Penghasilan yang telah dikenakan pajak
final ( 416,449 ) ( 348,833 ) Income subject to final tax
Bagian atas keuntungan bersih entitas
asosiasi ( 85,712 ) ( 134,285 ) Share in net profit of associates
Beban yang tidak dapat dikurangkan
menurut pajak 163,811 ( 156,232 ) Non-deductible expenses
Dampak pengurangan laba kena pajak Deduction of taxable income related to
terkait dengan tax holiday ( 15,495,805 ) ( 3,165,172 ) the tax holiday
Aset pajak tangguhan yang tidak diakui 8,561,114 3,823,680 Unrecognized deferred tax assets
Beban pajak penghasilan konsolidasian 13,791,538 1,757,759 Consolidated income tax expense
Page 111
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/100 Exhibit E/100
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
d. Beban pajak penghasilan (Lanjutan) d. Income tax expense (Continued)
Rekonsiliasi antara laba sebelum pajak The reconciliation between the consolidated
penghasilan konsolidasian dengan rugi kena profit before income tax and tax loss is as
pajak adalah sebagai berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Laba sebelum pajak penghasilan
konsolidasian 95,748,086 7,902,877 Consolidated profit before income tax
Dikurangi: Less:
Laba sebelum pajak penghasilan –
Entitas anak ( 119,443,338 )( 22,836,777 ) Profit before income tax – Subsidiaries
Disesuaikan dengan jurnal eliminasi
konsolidasian 10,441,677 5,595,915 Adjustment for consolidation elimination entries
Kerugian sebelum pajak penghasilan –
Perusahaan ( 13,253,575 ) ( 9,337,985 ) Loss before income tax – the Company
Koreksi fiskal: Fiscal corrections:
Perbedaan temporer Temporary differences
Liabilitas imbalan kerja jangka panjang 58,892 35,593 Long-term employment benefits liability
Perbedaan nilai buku aset tetap komersial Difference between the commercial and tax
dan fiskal 6,524 6,524 book values of property, plant and equipment
Perbedaan nilai buku aset hak-guna Difference between the commercial and tax
komersial dan fiskal 83,910 82,814 book values of right-of-use assets
Perbedaan nilai buku angsuran sewa Differences between the commercial and tax
komersial dan fiskal ( 80,993 )( 90,527 ) book values of lease liabilities
Pembayaran berbasis saham 8,110 11,114 Share-based payment
Perbedaan tetap Permanent differences
Penghasilan yang telah dikenakan pajak
final ( 144,694 )( 188,749 ) Income subject to final tax
Bagian atas keuntungan bersih entitas
asosiasi ( 1,158,562 )( 694,948 ) Share in net profit of associates
Beban yang tidak dapat dikurangkan
menurut pajak 9,982 283,556 Non-deductible expenses
Sub-jumlah ( 1,216,831 )( 554,623 ) Sub-total
Rugi kena pajak – Perusahaan ( 14,470,406 )( 9,892,608 ) Tax loss – the Company
Pajak penghasilan kini – Perusahaan - - Current income tax – the Company
Pajak penghasilan kini – Entitas anak 14,228,682 648,718 Current income tax – Subsidiaries
Pajak penghasilan kini konsolidasian 14,228,682 648,178 Consolidated current income tax
Rugi kena pajak hasil rekonsiliasi menjadi The tax loss resulting from the reconciliation
dasar dalam pengisian Surat Pemberitahuan will become the basis for filing the Annual
Tahunan Pajak Penghasilan Badan (“PPh Corporate Income Tax (“CIT”) Return
Badan”) yang disampaikan ke otoritas submitted to the tax authorities.
perpajakan.
Page 112
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/101 Exhibit E/101
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
e. Aset pajak tangguhan e. Deferred tax assets
31 Maret/March 2026
(Dibebankan)/
dikreditkan
pada laba
rugi/ Dibebankan
Saldo awal/ (Charged)/ pada ekuitas/ Saldo akhir/
Beginning credited to Charged to Reklasifikasi/ Ending
balance profit or loss equity Reclassification balance
Provisi rehabilitasi dan Provision for rehabilitation
penutupan tambang 1,796,951 ( 93,993 ) - - 1,702,958 and mine closure
Liabilitas imbalan kerja Long-term employee
jangka panjang 582,798 71,334 -( 97,732 ) 556,400 benefits liability
Difference between the
Perbedaan nilai buku commercial and tax book
aset tetap komersial values of property, plant
dan fiskal 636 ( 5,149 ) -( 6,814 )( 11,327 ) and equipment
Difference between the
Perbedaan nilai buku commercial and tax book
aset hak-guna values of right-of-use
komersial dan fiskal ( 519,069) 36,977 - 135,375 ( 346,717 ) assets
Perbedaan nilai buku Differences between the
angsuran sewa commercial and tax book
komersial dan fiskal 507,730 ( 47,816 ) -( 142,328 ) 317,586 values of lease liabilities
Pembayaran berbasis
saham 30,181 1,784 -( 31,965 ) - Share-based payments
Lain-lain 1,487,547 ( 657,440 ) - - 830,107 Others
Jumlah 3,886,774 ( 694,303 ) -( 143,464 ) 3,049,007 Total
31 Desember/December 2025
(Dibebankan)/
dikreditkan pada Dibebankan
Saldo awal/ laba rugi/ pada ekuitas/
Beginning (Charged)/credited Charged to Saldo akhir/
balance to profit or loss equity Ending balance
Provisi rehabilitasi dan Provision for rehabilitation
penutupan tambang 1,333,451 463,500 - 1,796,951 and mine closure
Liabilitas imbalan kerja Long-term employee
jangka panjang 341,057 267,553 ( 25,812 ) 582,798 benefits liability
Difference between the
commercial and tax book
Perbedaan nilai buku aset values of property, plant
tetap komersial dan fiskal ( 212,520 ) 213,156 - 636 and equipment
Difference between the
Perbedaan nilai buku aset commercial and tax book
hak-guna komersial dan values of right-of-use
fiskal ( 192,159 )( 326,910 ) - ( 519,069 ) assets
Perbedaan nilai buku Differences between the
angsuran sewa komersial commercial and tax book
dan fiskal 198,329 309,401 - 507,730 values of lease liabilities
Pembayaran berbasis saham 38,059 ( 7,878 ) - 30,181 Share-based payments
Lain-lain 4,194,381 ( 2,706,834 ) - 1,487,547 Others
Jumlah 5,700,598 ( 1,788,012 )( 25,812 ) 3,886,774 Total
Manajemen berpendapat jika aset pajak Management believes that the deferred tax
tangguhan dapat dipulihkan sesuai dengan assets could be recovered within the expected
periode realisasi yang diekspektasikan. realization period.
Page 113
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/102 Exhibit E/102
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
f. Liabilitas pajak tangguhan f. Deferred tax liabilities
31 Maret/March 2026
Dikreditkan
pada laba Dibebankan
Saldo awal/ rugi/ pada ekuitas/ Saldo akhir/
Beginning Credited to Charged to Reklasifikasi/ Ending
balance profit or loss equity Reclassification balance
Properti pertambangan ( 80,301,271 ) 1,076,158 - - ( 79,225,113 ) Mining properties
Selisih kurs atas Exchange difference on
penjabaran laporan translation of financial
keuangan dalam mata statements in foreign
uang asing ( 338,214 ) - - - ( 338,214 ) currency
Difference between the
Perbedaan nilai buku commercial and tax book
aset tetap komersial values of property, plant
dan fiskal ( 217,470 ) 6,757 - 6,814 ( 203,899 ) and equipment
Perbedaan nilai buku Difference between the
persediaan komersial commercial and tax book
dan fiskal ( 825,734 ) 48,532 - - ( 777,202 ) values of inventory
Liabilitas imbalan kerja Long-term employee
jangka panjang - - - 97,732 97,732 benefits liability
Difference between the
Perbedaan nilai buku commercial and tax book
aset hak-guna values of right-of-use
komersial dan fiskal - - -( 135,375 )( 135,375 ) assets
Perbedaan nilai buku Differences between the
angsuran sewa commercial and tax book
komersial dan fiskal - - - 142,328 142,328 values of lease liabilities
Pembayaran berbasis
saham - - - 31,965 31,965 Share-based payments
Cadangan lindung nilai
arus kas - - ( 1,797,569 ) - ( 1,797,569 ) Cash flow hedges
Jumlah ( 81,682,689 ) 1,131,447 ( 1,797,569 ) 143,464 ( 82,205,347 ) Total
31 Desember/December 2025
Dikreditkan pada Dikreditkan
Saldo awal/ laba rugi/ pada ekuitas/
Beginning Credited to profit Credited to Saldo akhir/
balance or loss equity Ending balance
Properti pertambangan ( 85,275,972 ) 4,974,701 - ( 80,301,271 ) Mining properties
Exchange difference on
Selisih kurs atas penjabaran translation of financial
laporan keuangan dalam statements in foreign
mata uang asing ( 338,214 ) - - ( 338,214 ) currency
Difference between the
commercial and tax book
Perbedaan nilai buku aset values of property, plant
tetap komersial dan fiskal ( 244,496 ) 27,026 - ( 217,470 ) and equipment
Perbedaan nilai buku Difference between the
persediaan komersial dan commercial and tax book
fiskal ( 1,867,235 ) 1,041,501 - ( 825,734 ) values of inventory
Jumlah ( 87,725,917 ) 6,043,228 - ( 81,682,689 ) Total
g. Administrasi pajak g. Tax administration
Undang-Undang Perpajakan yang berlaku di The taxation laws in Indonesia require that
Indonesia mengatur bahwa masing-masing each company in the Group calculate and pay
entitas dalam Grup menghitung dan membayar individual tax on the basis of self-assessment.
sendiri besarnya jumlah pajak yang terutang Under the prevailing obligations, the
secara individu. Berdasarkan peraturan Directorate General of Tax (“DGT”) may assess
perundang-undangan yang berlaku, Direktorat or amend taxes within 5 (five) years of the time
Jenderal Pajak (“DJP”) dapat menetapkan atau the tax becomes due.
mengubah jumlah pajak terutang dalam jangka
waktu 5 (lima) tahun sejak saat terutangnya
pajak.
Page 114
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/103 Exhibit E/103
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
h. Fasilitas pajak h. Tax facilities
Beberapa entitas anak Perseroan telah Some of the Company’s subsidiaries obtained tax
mendapatkan fasilitas tax holiday untuk holiday facility for specific capital investment
investasi modal spesifik berdasarkan Surat based on Minister of Finance Decision Letter
Keputusan Menteri Keuangan tentang Fasilitas regarding the Tax Holiday Facility and are
Pengurangan Pajak Penghasilan Badan dan eligible to obtain:
berhak untuk mendapatkan:
• 100% pengurangan laba kena pajak bersih • 100% reduction of net taxable income for:
selama: 7 tahun untuk BSI, CSI, ZHN, MTI 7 years for BSI, CSI, ZHN, MTI and 5 years for
dan 5 tahun untuk HNMI, yang terhitung HNMI, which is started when such subsidiary
sejak entitas anak tersebut memulai commences commercial production that
kegiatan produksi komersial yang enacted based on Decree of DGT regarding
ditetapkan dengan Keputusan DJP tentang the Determination of the Commencement of
Penetapan Saat Dimulainya Berproduksi Commercial Production;
Secara Komersial;
• 50% pengurangan dari laba kena pajak • 50% reduction of net taxable income for 2
bersih selama 2 tahun yang dihitung sejak years which is started since the end of
akhir pengurangan dari laba kena pajak reduction of net taxable income as described
bersih pada butir pertama; dan in the first point; and
• pembebasan dari pemotongan dan • exemption from withholding and collection
pemungutan pajak oleh pihak ketiga atas of taxes by third parties on income received
penghasilan yang diterima dan diperoleh and accrued by such subsidiary for a period
entitas anak tersebut untuk jangka waktu according to the first point.
sesuai pada butir pertama.
Selain itu, MTI juga memperoleh fasilitas pajak Further, MTI also obtained income tax facility
penghasilan untuk penanaman modal di bidang- for specific capital investment in specific
bidang usaha tertentu dan/atau di daerah- business and/or specific area facility based on
daerah tertentu berdasarkan Surat Keputusan Minister of Finance Decision Letter
Menteri Keuangan dimana MTI berhak untuk: whereby MTI is eligible for:
• mendapatkan 30% pengurangan • obtain 30% reduction of net income from
penghasilan neto dari jumlah nilai total investment for 6 years, each at 5%
penanaman modal selama 6 tahun masing- per annum;
masing sebesar 5% per tahun;
• penyusutan dipercepat atas aset berwujud • accelerated depreciation of tangible
dan amortisasi yang dipercepat atas aset assets and accelerated amortization of
takberwujud; intangible assets;
• pengenaan pajak penghasilan atas dividen • imposition of income tax on dividends paid
yang dibayarkan kepada wajib pajak luar to foreign taxpayers at 10%, or a lower
negeri sebesar 10%, atau tarif yang lebih rate according to the applicable double
rendah menurut perjanjian penghindaran tax avoidance agreement; and
pajak berganda yang berlaku; dan
• kompensasi kerugian yang lebih lama dari • compensation for tax loss will be longer
5 tahun tetapi tidak lebih dari 10 tahun than 5 years but not more than 10 years
yang mulai berlaku sejak saat MTI mulai that effective since MTI starts its commercial
berproduksi secara komersial yang ditetapkan production that enacted based on Decree of
dengan Keputusan DJP tentang Penetapan Saat DGT regarding the Determination of the
Dimulainya Berproduksi Secara Komersial. Commencement of Commercial Production.
Page 115
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/104 Exhibit E/104
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
30. PERPAJAKAN (Lanjutan) 30. TAXATION (Continued)
i. Status perpajakan i. Tax status
Untuk periode tiga bulan yang berakhir pada For the three-month period ended 31 March
31 Maret 2026, MTI dan Perusahaan telah 2026, MTI and the Company have received
menerima Surat Ketetapan Pajak Lebih Bayar Overpayment Tax Assessment Letters of VAT
atas PPN untuk periode fiskal Desember 2024 for fiscal period December 2024 offset with
yang telah disalinghapuskan dengan Surat Underpayment Tax Assessment Letters
Ketetapan Pajak Kurang Bayar atas PPN untuk of VAT for fiscal periods January to
periode fiskal Januari sampai November 2024 November 2024 totaling to Rp251,736,148,397
dengan total masing-masing sebesar (equivalent to US$15,004,837) and
Rp251.736.148.397 setara dengan Rp57,780,613,370 (equivalent to
US$15.004.837) dan Rp57.780.613.370 (setara US$3,444,037). BSI has received Advance
dengan US$3.444.037). BSI telah menerima Overpayment Tax Refund Decrees (“SKPPKP”)
Surat Keputusan Pengembalian Pendahuluan of VAT for fiscal period September 2024
Kelebihan Pajak (“SKPPKP”) atas PPN untuk totaling to Rp92,845,275,679 equivalent to
periode pajak September 2024 dengan total US$5,485,689. These claims for tax refunds
sebesar Rp92.845.275.679 setara dengan have been fully received.
US$5.485.689. Klaim pajak ini telah diterima
penuh.
Untuk tahun yang berakhir pada 31 Desember For the year ended 31 December 2025, the
2025, Perusahaan telah menerima Surat Company has received Overpayment Tax
Ketetapan Pajak Lebih Bayar atas PPh Badan Assessment Letter of CIT for fiscal year 2022
untuk tahun pajak 2022 dengan total sebesar totaling to Rp3,871,595,235 equivalent to
Rp3.871.595.235 setara dengan US$248.084, US$248,084, CSI and BSI have received SKPPKP
CSI dan BSI telah menerima SKPPKP atas PPN of VAT for certain fiscal periods totaling
untuk periode fiskal tertentu dengan total to Rp103,896,371,178 equivalent to
sebesar Rp103.896.371.178 setara dengan US$6,325,436. These claims for tax refunds
US$6.325.436. Klaim pajak ini telah diterima have been fully received. MTI has received
penuh. MTI telah menerima Surat Ketetapan Underpayment Tax Assessment Letter of VAT for
Pajak Kurang Bayar atas PPN untuk periode fiscal periods January to December 2022
fiskal Januari sampai Desember 2022 dengan totaling to Rp9,043,931,682 equivalent to
total sebesar Rp9.043.931.682 setara dengan US$553,654 which has been fully paid within the
US$553.654 yang telah dibayarkan penuh pada same year.
tahun yang sama.
BSI sedang dilakukan pemeriksaan oleh DJP BSI was being audited by the DGT for VAT of
atas PPN untuk periode pajak Januari 2024 dan fiscal periods January 2024 and July 2025. SCM
Juli 2025. SCM sedang dilakukan pemeriksaan was being audited by the DGT for all types of
oleh DJP atas semua jenis pajak untuk tahun taxes for fiscal year 2023. As at the completion
pajak 2023. Sampai dengan tanggal laporan date of these interim consolidated financial
keuangan konsolidasian interim ini diterbitkan, statements, the tax audit is still in process and
pemeriksaan tersebut sedang berjalan dan DJP DGT has not issued tax assessment letter.
belum menerbitkan surat ketetapan pajak.
Page 116
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/105 Exhibit E/105
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31. ASET DAN LIABILITAS DERIVATIF 31. DERIVATIVE ASSETS AND LIABILITIES
31 Maret/ 31 Desember/
March 2026 December 2025
Aset derivatif Derivative assets
Lindung nilai atas penjualan nikel 8,170,769 - Hedging for nickel sales
Liabilitas derivatif Derivative liabilities
Cross currency swaps 34,064,252 22,021,093 Cross currency swaps
Bagian jangka pendek ( 8,548,869)( 5,667,510) Current portion
Bagian jangka panjang 25,515,383 16,353,583 Non-current portion
a. Lindung nilai atas penjualan nikel a. Hedging for nickel sales
Pada bulan Januari 2026, Grup mengadakan In January 2026, the Group has entered into
kontrak commodity swap dengan Natixis, pihak commodity swap contracts with Natixis, third
ketiga, sebagai berikut: party, as follows:
Pihak lawan Jumlah kuantitas
transaksi/ nosional/ Tanggal perjanjian/ Tanggal efektif/ Tanggal jatuh tempo/
Counterparty Total notional quantity Agreement date Effective date Maturity date
Nikel/Nickel
Natixis 2,000 MT 28 Januari/January 2026 1 Oktober/October 2026 31 Oktober/October 2026
2,000 MT 27 Januari/January 2026 1 November 2026 30 November 2026
2,000 MT 28 Januari/January 2026 1 Desember/December 2026 31 Desember/December 2026
Semua derivatif berdasarkan harga nikel pada All derivatives are based on the nickel price
kas London Metal Exchange (“LME”) dan London Metal Exchange (“LME”) cash and the
transaksi ini merupakan transaksi lindung nilai transactions are effective cash flow hedges.
arus kas yang efektif.
b. Cross currency swaps b. Cross currency swaps
Pada tanggal 31 Maret 2026 dan 31 Desember As at 31 March 2026 and 31 December 2025, the
2025, Perusahaan mempunyai kontrak cross Company has outstanding cross currency swap
currency swap dengan UOB, Maybank, contracts with UOB, Maybank, Danamon, OCBC,
Danamon, OCBC, Natixis, dan CIMB, pihak Natixis and CIMB, third parties.
ketiga.
Setara Nilai wajar liabilitas derivatif/
Jumlah dengan Fair values of derivative liabilities
nosional (dalam Dolar
(dalam juta)/ AS)/ Tingkat
Pihak lawan Notional Equivalent to Tanggal Tanggal jatuh bunga/
transaksi/ amount (in US perjanjian/ Tanggal efektif/ tempo/ Interest 31 Maret/ 31 Desember/
Counterparty (in million) Dollars) Agreement date Effective date Maturity date rate March 2026 December 2025
Cross Currency Swap
UOB Rp 237,450 15,000,000 29 April 2024 26 April 2024 3 April 2027 6.95% ( 971,451) ( 743,003 )
Maybank Rp 395,750 25,000,000 9 Januari/ 3 April 2025 3 April 2027 6.23% ( 1,326,823) ( 1,019,199 )
January 2025
Rp 341,800 21,591,914 16 Januari/ 3 April 2025 3 April 2027 6.10% ( 1,118,384) ( 846,080 )
January 2025
Rp 303,120 20,000,000 2 Januari/ 8 Januari/ 8 Oktober/ 4.75% ( 1,262,126) ( 1,012,927 )
January 2025 January 2025 October 2027
Rp 454,680 30,000,000 6 Januari/ 8 Januari/ 8 Oktober/ 4.80% ( 1,918,841) ( 1,548,436 )
January 2025 January 2025 October 2027
Rp 378,900 25,000,000 9 Januari/ 8 Januari/ 8 Oktober/ 4.79% ( 1,594,759) ( 1,285,515 )
January 2025 January 2025 October 2027
Rp 303,120 20,000,000 16 Januari/ 8 Januari/ 8 Oktober/ 4.60% ( 1,210,822) ( 954,710 )
January 2025 January 2025 October 2027
Rp 344,180 22,709,158 11 Maret/ 8 April 2025 8 Oktober/ 4.05% ( 1,161,241) ( 841,785 )
March 2025 October 2027
Page 117
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/106 Exhibit E/106
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
31. ASET DAN LIABILITAS DERIVATIF (Lanjutan) 31. DERIVATIVE ASSETS AND LIABILITIES (Continued)
b. Cross currency swaps (Lanjutan) b. Cross currency swaps (Continued)
Setara Nilai wajar liabilitas derivatif/
Jumlah dengan Fair values of derivative liabilities
nosional (dalam Dolar
(dalam juta)/ AS)/ Tingkat
Pihak lawan Notional Equivalent to Tanggal Tanggal jatuh bunga/
transaksi/ amount (in US perjanjian/ Tanggal efektif/ tempo/ Interest 31 Maret/ 31 Desember/
Counterparty (in million) Dollars) Agreement date Effective date Maturity date rate March 2026 December 2025
Cross Currency Swap
Maybank Rp 324,240 20,000,000 4 September 20 Agustus/ 27 Agustus/ 5.90% ( 848,855) ( 613,388 )
2025 August 2025 August 2026
Rp 324,240 20,000,000 4 September 20 Agustus/ 20 Agustus/ 6.95% ( 859,134) ( 698,536 )
2025 August 2025 August 2028
Rp 326,900 20,000,000 11 September 8 Juli/ 15 Juli/ 6.65% ( 746,089) ( 527,781 )
2025 July 2025 July 2026
Rp 326,900 20,000,000 18 September 8 Juli/ 15 Juli/ 6.50% ( 730,513) ( 505,495 )
2025 July 2025 July 2026
Rp 199,246 12,190,000 19 September 8 Juli/ 8 Juli/ 7.10% ( 429,453) ( 339,167 )
2025 July 2025 July 2028
Rp 331,700 20,000,000 23 September 15 Oktober/ 22 April 2026 6.60% ( 450,914) ( 208,334 )
2025 October 2025
Rp 213,947 12,900,000 24 September 15 Oktober/ 15 April 2030 7.25% ( 311,095) ( 129,695 )
2025 October 2025
Rp 65,017 3,900,000 18 Desember/ 9 Desember/ 9 Desember/ 5.90% ( 84,065) ( 46,820 )
December 2025 December 2025 December 2028
Rp 333,420 20,000,000 9 Desember/ 9 Desember/ 9 Desember/ 6.45% ( 583,967) ( 337,980 )
December 2025 December 2025 December 2030
Rp 333,420 20,000,000 18 Desember/ 9 Desember/ 9 Desember/ 6.40% ( 540,185) ( 292,306 )
December 2025 December 2025 December 2030
Rp 324,240 20,000,000 9 September 2025 20 Agustus/ 27 Agustus/ 5.75% ( 833,344) ( 591,195 )
August 2025 August 2026
Rp 378,432 22,700,000 9 Desember/ 9 Desember/ 9 Desember/ 5.95% ( 519,090) ( 304,778 )
December 2025 December 2025 December 2028
Rp 333,420 20,000,000 6 Januari/ 9 Maret/ 9 Desember/ 6.35% ( 496,403) -
January 2026 March 2026 December 2030
Danamon Rp 324,240 20,000,000 4 September 9 September 27 Agustus/ 5.90% ( 841,370) ( 613,388 )
2025 2025 August 2026
Rp 335,588 20,700,000 9 September 11 September 27 Agustus/ 5.75% ( 854,843) ( 611,887 )
2025 2025 August 2026
Rp 310,140 18,700,000 24 September 15 Oktober/ 22 April 2026 6.60% ( 419,776) ( 193,524 )
2025 October 2025
Rp 333,420 20,000,000 9 Desember/ 9 Desember/ 9 Desember/ 5.95% ( 457,578) ( 268,527 )
December 2025 December 2025 December 2028
Rp 250,065 15,000,000 10 Desember/ 10 Desember/ 9 Desember/ 5.95% ( 343,183) ( 201,395 )
December 2025 December 2025 December 2028
Rp 333,420 20,000,000 16 Desember/ 17 Desember/ 9 Desember/ 5.98% ( 473,229) ( 285,581 )
December 2025 December 2025 December 2028
Rp 451,784 27,100,000 22 Desember/ 23 Desember/ 9 Desember/ 6.40% ( 735,967) ( 396,074 )
December 2025 December 2025 December 2030
Rp 533,391 32,901,000 11 September 15 September 20 Agustus/ 6.75% ( 1,255,829) ( 977,894 )
2025 2025 August 2028
Rp 288,408 17,300,000 5 Januari/ 9 Maret/ 9 Desember/ 6.40% ( 469,824) -
January 2026 March 2026 December 2030
OCBC Rp 177,997 10,890,000 18 September 8 Juli/ 15 Juli/ 6.50% ( 418,358) ( 275,242 )
2025 July 2025 July 2026
Rp 326,900 20,000,000 18 September 8 Juli/ 15 Juli/ 6.53% ( 771,434) ( 509,952 )
2025 July 2025 July 2026
Rp 182,435 11,000,000 23 September 15 Oktober/ 22 April 2026 6.45% ( 248,216) ( 105,637 )
2025 October 2025
Rp 324,240 20,000,000 9 September 2025 20 Agustus/ 27 Agustus/ 5.70% ( 883,819) ( 581,851 )
August 2025 August 2026
Rp 213,302 13,050,000 18 September 8 Juli/ 15 Juli/ 6.50% ( 501,338) ( 329,836 )
2025 July 2025 July 2026
Natixis Rp 270,510 16,686,000 4 September 20 Agustus/ 20 Agustus/ 6.99% ( 993,598) ( 469,713 )
2025 August 2025 August 2030
Rp 436,740 26,720,000 8 September 8 Juli/ 8 Juli/ 7.21% ( 1,426,252) ( 692,237 )
2025 July 2025 July 2030
Rp 361,900 22,323,000 11 September 20 Agustus/ 20 Agustus/ 6.56% ( 981,031) ( 558,531 )
2025 August 2025 August 2028
Rp 326,900 20,000,000 18 September 8 Juli/ 8 Juli/ 7.05% ( 858,872) ( 535,620 )
2025 July 2025 July 2028
Rp 268,570 16,566,000 8 September 2025 20 Agustus/ 20 Agustus/ 6.99% ( 986,091) ( 465,962 )
August 2025 August 2030
Rp 324,240 20,000,000 9 September 2025 20 Agustus/ 20 Agustus/ 6.32% ( 764,309) ( 374,586 )
August 2025 August 2028
Rp 386,655 23,655,000 9 September 2025 8 Juli/ 8 Juli/ 6.69% ( 809,612) ( 408,486 )
July 2025 July 2028
CIMB Rp 356,578 21,500,000 19 September 23 September 15 April 2028 7.25% ( 572,169) ( 318,040 )
2025 2025
( 34,064,252) ( 22,021,093 )
Page 118
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/107 Exhibit E/107
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
32. INFORMASI ARUS KAS 32. CASH FLOW INFORMATION
a. Transaksi non-kas a. Non-cash transactions
Tabel di bawah ini menunjukkan transaksi non- The table below shows the Group’s non-cash
kas Grup selama periode berjalan sebagai transactions during the period as follows:
berikut:
31 Maret/ 31 Maret/
March 2026 March 2025
Aktivitas yang tidak mempengaruhi
arus kas: Non-cash activities:
Additions of property, plant and equipment
Penambahan aset tetap melalui utang 18,157,361 23,495,685 through payables
Penambahan aset tetap melalui beban yang Additions of property, plant and equipment
masih harus dibayar 17,408,492 14,820,313 through accruals
Penambahan aset tetap dari kapitalisasi Additions of property, plant and equipment
biaya pinjaman 5,079,901 13,919,870 through capitalization of borrowing costs
Penambahan properti pertambangan
melalui beban yang masih harus dibayar 1,729,700 988,484 Additions of mining properties through accruals
Penambahan aset hak-guna melalui Additions of right-of-use assets through
liabilitas sewa 1,349,861 - lease liabilities
Penambahan properti pertambangan dari Additions of mining properties through
kapitalisasi biaya karyawan 276,326 197,423 capitalization of employee costs
Penambahan aset tetap dari kapitalisasi Additions of property, plant and equipment
biaya karyawan 258,708 1,760,660 through capitalization of employee costs
Additions of property, plant and equipment
Penambahan aset tetap dari kapitalisasi through capitalization of depreciation expense
beban penyusutan aset hak-guna - 174,624 of right-of-use assets
Biaya emisi saham yang belum dibayar - 115,344 Unpaid share issuance cost
Penambahan properti pertambangan Additions of mining properties through
melalui kapitalisasi provisi rehabilitasi, capitalization of provision for rehabilitation,
reklamasi dan penutupan tambang - 37,048 reclamation and mine closure
Additions of property, plant and equipment
Penambahan aset tetap dari kapitalisasi through capitalization of amortization expense
beban amortisasi aset takberwujud - 16,956 of intangible assets
Additions of property, plant and equipment
Penambahan aset tetap dari kapitalisasi through capitalization of depreciation expense
beban penyusutan aset tetap - 13,504 of property, plant and equipment
b. Rekonsiliasi liabilitas yang timbul dari b. Reconciliation of liabilities arising from
aktivitas pendanaan financing activities
Tabel di bawah ini menunjukkan rekonsiliasi The below tables set out a reconciliation of
liabilitas yang timbul dari aktivitas pendanaan liabilities arising from financing activities for the
untuk periode tiga bulan yang berakhir pada three-month periods ended 31 March 2026 and
tanggal 31 Maret 2026 dan 2025 sebagai 2025 as follows:
berikut:
Perubahan non-kas/Non-cash changes
Penambahan aset
Amortisasi biaya hak-guna melalui
transaksi liabilitas sewa/
pinjaman/ Additions of Pergerakan kurs
Amortization of right-of-use mata uang asing/
Saldo awal/ Arus kas/ loan-related assets through Foreign exchange Saldo akhir/
Beginning balance Cash flows costs lease liabilities rate movement Ending balance
31 Maret/March 2026
Pinjaman/
Borrowings 128,924,322 172,055,800 118,558 - - 301,098,680
Liabilitas sewa/
Lease liabilities 3,788,238 ( 1,728,950) - 1,349,861 ( 19,585) 3,389,564
Utang obligasi/Bonds
payable 612,016,911 - 457,547 - ( 4,849,513) 607,624,945
Sukuk/Sharia bonds 200,211,515 - 131,080 - ( 1,586,455) 198,756,140
Jumlah/Total 944,940,986 170,326,850 707,185 1,349,861 ( 6,455,553) 1,110,869,329
Page 119
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/108 Exhibit E/108
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
32. INFORMASI ARUS KAS (Lanjutan) 32. CASH FLOW INFORMATION (Continued)
b. Rekonsiliasi liabilitas yang timbul dari b. Reconciliation of liabilities arising from
aktivitas pendanaan (Lanjutan) financing activities (Continued)
Tabel di bawah ini menunjukkan rekonsiliasi The below tables set out a reconciliation of
liabilitas yang timbul dari aktivitas pendanaan liabilities arising from financing activities for the
untuk periode tiga bulan yang berakhir pada three-month periods ended 31 March 2026 and
tanggal 31 Maret 2026 dan 2025 sebagai 2025 as follows: (Continued)
berikut: (Lanjutan)
Perubahan non-kas/Non-cash changes
Amortisasi biaya
transaksi Biaya transaksi
pinjaman/ yang belum Pergerakan kurs
Amortization of dibayar/ mata uang asing/
Saldo awal/ Arus kas/ loan-related Unpaid Foreign exchange Saldo akhir/
Beginning balance Cash flows costs transaction costs rate movement Ending balance
31 Maret/March 2025
Pinjaman/
Borrowings 464,832,219 96,535,000 688,499 - - 562,055,718
Liabilitas sewa/
Lease liabilities 3,807,439 ( 644,331) - - ( 22,995) 3,140,113
Utang obligasi/Bonds
payable 215,467,361 - 176,369 - ( 4,201,687) 211,442,043
Jumlah/Total 684,107,019 95,890,669 864,868 - ( 4,224,682) 776,637,874
33. SIFAT HUBUNGAN, SALDO DAN TRANSAKSI 33. NATURE OF RELATIONSHIPS, BALANCES AND
DENGAN PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
a. Sifat hubungan dan transaksi a. Nature of relationships and transactions
Dalam menjalankan kegiatan usahanya, Grup In conducting its business, the Group entered
melakukan beberapa transaksi bisnis dan into certain business and financial transactions
keuangan dengan pihak berelasi: with its related parties:
Pihak berelasi/ Sifat hubungan/ Sifat transaksi/
Related parties Nature of relationships Nature of transactions
MDKA Entitas induk terakhir/ Utang usaha, beban yang masih harus dibayar, transaksi
Ultimate parent entity pembelian dan biaya keuangan/Trade payables, accrued
expenses, purchase transactions and finance costs
MIA Entitas asosiasi/Associates Pinjaman kepada pihak berelasi, piutang lain-lain dan
pendapatan keuangan/Loan to related party, other
receivables and finance income
PT Indonesia Konawe Entitas asosiasi/Associates Pinjaman kepada pihak berelasi, piutang lain-lain dan
Industrial Park (“IKIP”) pendapatan keuangan/Loan to related party, other
receivables and finance income
ESG Entitas asosiasi/Associates Piutang usaha dan pendapatan/Trade receivables and revenue
MNEM Entitas asosiasi/Associates Piutang usaha dan pendapatan/Trade receivables and revenue
PT Merdeka Mining Servis Entitas sepengendali/ Utang usaha, beban yang masih harus dibayar, penambahan aset
(“MMS”) Entity under common control tetap dan transaksi pembelian/Trade payables, accrued
expenses, additions of property, plant and equipment and
purchase transactions
PT Bumi Suksesindo (“BSS”) Entitas sepengendali/ Utang usaha dan penambahan aset tetap/Trade payables and
Entity under common control additions of property, plant and equipment
MIM Entitas sepengendali/ Utang usaha, beban yang masih harus dibayar, liabilitas sewa
Entity under common control dan transaksi pembelian/Trade payables, accrued expenses,
lease liabilities and purchase transactions
BTR Entitas sepengendali/ Utang usaha, beban yang masih harus dibayar dan transaksi
Entity under common control pembelian/Trade payables, accrued expenses and purchase
transactions
PT Merdeka Teknik Servis Entitas sepengendali/ Beban yang masih harus dibayar dan transaksi pembelian/
(“MTS”) Entity under common control Accrued expenses and purchase transactions
PT Batutua Alam Persada Entitas sepengendali/ Utang usaha, beban yang masih harus dibayar dan transaksi
(“BAP”) Entity under common control pembelian/Trade payables, accrued expenses and purchase
transactions
Page 120
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/109 Exhibit E/109
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
33. SIFAT HUBUNGAN, SALDO DAN TRANSAKSI 33. NATURE OF RELATIONSHIPS, BALANCES AND
DENGAN PIHAK BERELASI (Lanjutan) TRANSACTIONS WITH RELATED PARTIES
(Continued)
b. Rincian transaksi dan saldo b. Details of transactions and balances
Saldo dan transaksi dengan pihak yang berelasi Balances and transactions with related parties
adalah sebagai berikut: are as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Piutang usaha (Catatan 5) Trade receivables (Note 5)
ESG 23,736,926 72,049,635 ESG
MNEM 20,147,227 5,569,798 MNEM
Jumlah 43,884,153 77,619,433 Total
Persentase terhadap total aset 1.11% 2.08% As a percentage of total assets
Piutang lain-lain Other receivables
MIA 907,559 716,383 MIA
IKIP 296,101 - IKIP
Jumlah 1,203,660 716,383 Total
Persentase terhadap total aset 0.03% 0.02% As a percentage of total assets
Pinjaman kepada pihak berelasi Loan to related parties
IKIP 18,200,000 - IKIP
MIA 11,458,333 11,458,333 MIA
Jumlah 29,658,333 11,458,333 Total
Persentase terhadap total aset 0.75% 0.31% As a percentage of total assets
Utang usaha (Catatan 14) Trade payables (Note 14)
MDKA 2,062,266 - MDKA
BAP 585,177 1,422,735 BAP
BTR 524,125 1,779,803 BTR
MMS 7,613 825,778 MMS
BSS 3,774 3,804 BSS
MIM 63 277,605 MIM
Jumlah 3,183,018 4,309,725 Total
Persentase terhadap total liabilitas 0.21% 0.31% As a percentage of total liabilities
Beban yang masih harus dibayar Accrued expenses
MDKA 4,593,078 2,502,718 MDKA
MMS 2,563,889 1,249,444 MMS
MTS 958,727 - MTS
BTR 800,403 2,207,657 BTR
BAP 186,026 814,781 BAP
MIM 62,065 47,265 MIM
Jumlah 9,164,188 6,821,865 Total
Persentase terhadap total liabilitas 0.60% 0.49% As a percentage of total liabilities
Liabilitas sewa (Catatan 16) Lease liabilities (Note 16)
MIM 160,708 158,838 MIM
Persentase terhadap total liabilitas 0.01% 0.01% As a percentage of total liabilities
Page 121
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/110 Exhibit E/110
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
33. SIFAT HUBUNGAN, SALDO DAN TRANSAKSI 33. NATURE OF RELATIONSHIPS, BALANCES AND
DENGAN PIHAK BERELASI (Lanjutan) TRANSACTIONS WITH RELATED PARTIES
(Continued)
b. Rincian transaksi dan saldo b. Details of transactions and balances
Saldo dan transaksi dengan pihak yang berelasi Balances and transactions with related parties
adalah sebagai berikut: are as follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Penambahan aset tetap Addition of property,
plant and equipment
MMS 1,878,810 2,792,533 MMS
BSS - 2,790 BSS
Jumlah 1,878,810 2,795,323 Total
Persentase terhadap total As a percentage of total addition of
penambahan aset tetap 5.23% 3.61% property, plant and equipment
Pendapatan (Catatan 25) Revenue (Note 25)
MNEM 20,372,457 - MNEM
ESG 2,092,928 - ESG
Jumlah 22,465,385 - Total
Persentase terhadap total
pendapatan 4.94% - As a percentage of total revenue
Transaksi pembelian Purchase transactions
BTR 2,467,692 2,500,686 BTR
BAP 1,398,918 1,418,274 BAP
MDKA 848,980 669,709 MDKA
MTS 164,350 - MTS
MMS 30,132 128,514 MMS
MIM 11,965 54,151 MIM
Jumlah 4,922,037 4,771,334 Total
Persentase terhadap total beban
pokok pendapatan dan beban As a percentage of total cost of
operasi 1.44% 1.35% revenue and operating expenses
Pendapatan keuangan Finance income
IKIP 296,101 - IKIP
MIA 191,176 - MIA
Jumlah 487,277 - Total
Persentase terhadap total As a percentage of total
pendapatan keuangan 22.62% - finance income
Biaya keuangan Finance costs
MDKA - 539,114 MDKA
Persentase terhadap total biaya As a percentage of total
keuangan - 17.73% finance costs
Transaksi pihak berelasi dilakukan dengan The related party transactions are conducted
ketentuan yang setara dengan yang berlaku under conditions equivalent to those applicable
dalam transaksi yang wajar. in a fair transaction.
Page 122
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/111 Exhibit E/111
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
33. SIFAT HUBUNGAN, SALDO DAN TRANSAKSI 33. NATURE OF RELATIONSHIPS, BALANCES AND
DENGAN PIHAK BERELASI (Lanjutan) TRANSACTIONS WITH RELATED PARTIES
(Continued)
b. Rincian transaksi dan saldo (Lanjutan) b. Details of transactions and balances
(Continued)
Perjanjian Utang Piutang US$11.458.333 US$11,458,333 Loan Agreement
Perusahaan dan MIA telah menandatangani The Company and MIA have executed a Loan
Perjanjian Utang Piutang pada bulan Februari Agreement in February 2025, as lastly amended
2025, sebagaimana diubah terakhir kali dengan through second amendment to loan agreement
amendemen kedua terhadap perjanjian utang which is effective in June 2025, in which the
piutang yang berlaku efektif sejak bulan Juni Company will provide the financing fund to MIA
2025, dimana Perusahaan akan menyediakan amounting to US$11,458,333 with the interest
dana pembiayaan kepada MIA sebesar rate of average daily SOFR plus a margin of 3.00%.
US$11.458.333 dengan tingkat bunga per tahun
sebesar rata-rata SOFR harian ditambah margin
sebesar 3,00%.
Waktu jatuh tempo dari perjanjian ini adalah The maturity date of this facility is 30 June 2026,
30 Juni 2026, atau waktu lainnya yang dapat or other time which can be extended based upon
diperpanjang berdasarkan kesepakatan secara the written agreement of the parties.
tertulis oleh para pihak.
Pada tahun 2025, Perusahaan telah In 2025, the Company has fully provided loans to
memberikan pinjaman penuh kepada MIA MIA in the total amount of US$11,458,333.
dengan jumlah sebesar US$11.458.333.
Perjanjian Pinjaman US$50.000.000 Loan Agreement US$50,000,000
IKIP menandatangani Perjanjian Pinjaman IKIP entered into a Loan Agreement with the
dengan Perusahaan pada bulan Januari 2026 Company in January 2026 amounting to
sebesar US$50.000.000 yang akan jatuh tempo US$50,000,000, which will mature five years
lima tahun setelah tanggal efektif perjanjian after the effective date of this agreement or on
ini atau dalam jangka waktu lain sebagaimana any other date as agreed in writing by the
disetujui secara tertulis oleh para pihak. parties.
Fasilitas pinjaman ini digunakan untuk This loan facility is used for IKIP, including but
keperluan IKIP, termasuk namun tidak terbatas not limited to, general corporate purposes,
pada, keperluan korporasi umum termasuk including for IKIP’s capital and operational
untuk keperluan pengeluaran modal dan expenditures and working capital, and other
operasional serta modal kerja IKIP, dan needs as required by IKIP.
keperluan-keperluan lainnya sebagaimana
dibutuhkan IKIP.
Pinjaman ini akan dikenakan bunga sebesar These loans shall bear interest in the aggregate
penjumlahan dari: of:
a. 180-Hari SOFRAI; dan a. 180-Day SOFRAI; and
b. margin (4,75% per tahun). b. margin (4.75% per annum).
Page 123
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/112 Exhibit E/112
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
33. SIFAT HUBUNGAN, SALDO DAN TRANSAKSI 33. NATURE OF RELATIONSHIPS, BALANCES AND
DENGAN PIHAK BERELASI (Lanjutan) TRANSACTIONS WITH RELATED PARTIES
(Continued)
b. Rincian transaksi dan saldo (Lanjutan) b. Details of transactions and balances
(Continued)
Perjanjian Pinjaman US$50.000.000 Loan Agreement US$50,000,000 (Continued)
(Lanjutan)
Dalam perjanjian pinjaman ini, tidak ada Under this loan agreement, there are no
kewajiban rasio keuangan yang harus dipatuhi financial ratio covenants that IKIP is required to
oleh IKIP. IKIP diharuskan untuk memenuhi comply with. IKIP is required to comply with
beberapa persyaratan dan ketentuan mengenai certain terms and conditions with regard to
hal-hal tertentu yang diatur dalam anggaran certain matters regulated in its articles of
dasar, termasuk sifat umum kegiatan usaha, association, including the general nature of its
aksi korporasi, kegiatan pembiayaan dan business, corporate actions, financing activities
lainnya. and other matters.
Untuk periode tiga bulan yang berakhir pada For the three-month period ended 31 March
tanggal 31 Maret 2026, Perusahaan telah 2026, the Company has provided loan to IKIP
memberikan pinjaman kepada IKIP sebesar amounting to US$18,200,000.
US$18.200.000.
c. Kompensasi manajemen kunci c. Key management compensation
Kompensasi untuk manajemen kunci Grup The compensation for the key management of
adalah sebagai berikut: the Group was as follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Salaries and other short-term
Gaji dan imbalan kerja jangka pendek 1,293,438 782,264 employee benefits
Pembayaran berbasis saham 8,110 11,114 Share-based payments
Jumlah 1,301,548 793,378 Total
Page 124
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/113 Exhibit E/113
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
34. ASET DAN LIABILITAS MONETER DALAM MATA 34. MONETARY ASSETS AND LIABILITIES
UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Pada tanggal 31 Maret 2026 dan 31 Desember 2025, As of 31 March 2026 and 31 December 2025, the
Grup mempunyai aset dan liabilitas moneter dalam Group has monetary assets and liabilities in foreign
mata uang asing sebagai berikut: currencies as follows:
31 Maret/ 31 Desember/
March 2026 December 2025
Mata uang asing/ Setara US$/ Mata uang asing/ Setara US$/
Foreign currency Equivalent in US$ Foreign currency Equivalent in US$
Aset moneter Monetary assets
Kas dan bank Rp 2,866,079,096,310 168,956,741 2,770,157,500,931 165,074,812 Cash and cash in banks
CNY 1,120,585 152,473 1,221,502 166,579
Piutang usaha Rp 3,984,732,687,928 235,221,899 4,049,498,668,984 241,350,373 Trade receivables
Piutang lain-lain Rp 89,219,750,494 5,267,014 80,326,599,288 4,786,941 Other receivables
Aset tidak lancar lain-lain Rp 63,960,184,430 3,782,198 52,504,723,727 3,129,585 Other non-current assets
Jumlah aset moneter 413,380,325 414,508,290 Total monetary assets
Liabilitas moneter Monetary liabilities
Utang usaha Trade payables
– pihak ketiga Rp ( 2,138,944,677,165) ( 126,056,517) ( 2,196,326,902,306 ) ( 130,885,322) third parties -
CNY ( 37,272,285) ( 5,409,183) ( 23,256,622 ) ( 3,317,647)
EUR ( 35,588) ( 41,098) ( 16,014 ) ( 18,862)
AUD ( 33,270) ( 23,559) - -
– pihak berelasi Rp ( 53,828,024,010) ( 3,183,018) ( 72,304,263,444 ) ( 4,309,725) related parties –
Beban yang masih harus dibayar Rp ( 1,353,839,370,136) ( 80,056,624) ( 1,334,994,069,200) ( 79,850,224) Accrued expenses
CNY ( 5,260,533) ( 739,126) ( 4,697,518 ) ( 669,973)
AUD ( 83,135) ( 58,868) - -
Liabilitas sewa Rp ( 39,491,827,796) ( 2,334,643) ( 40,862,742,313 ) ( 2,435,602) Lease liabilities
Utang obligasi Rp ( 10,275,545,448,751) ( 607,624,945) ( 10,267,807,726,156 ) ( 612,016,911) Bonds payable
Sukuk Rp ( 3,361,165,073,948) ( 198,756,140) ( 3,358,948,581,836 ) ( 200,211,515) Sharia bonds
Liabilitas imbalan kerja jangka Long-term employee
panjang Rp ( 80,999,251,651) ( 4,787,334) ( 70,317,673,002 ) ( 4,208,208) benefits liability
Provisi rehabilitasi, reklamasi dan Provision for rehabilitation,
penutupan tambang Rp ( 162,696,952,645) ( 9,620,777) ( 166,878,050,157 ) ( 9,946,835) reclamation and mine closure
Jumlah liabilitas moneter ( 1,038,691,832) ( 1,047,870,824) Total monetary liabilities
Liabilitas moneter bersih ( 625,311,507) ( 633,362,534) Net monetary liabilities
Apabila aset dan liabilitas dalam mata uang selain If assets and liabilities in currencies other than US
Dolar AS pada tanggal 31 Maret 2026 dijabarkan Dollars as at 31 March 2026 are translated using the
dengan menggunakan kurs yang berlaku pada exchange rate as at the date of completion of these
tanggal penyelesaian laporan keuangan interim consolidated financial statements, the
konsolidasian interim ini, liabilitas moneter neto total net monetary liabilities will increase by
akan naik sekitar US$8.949.012. approximately US$8,949,012.
Page 125
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/114 Exhibit E/114
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
35. ASET DAN LIABILITAS KEUANGAN 35. FINANCIAL ASSETS AND LIABILITIES
Pada tanggal 31 Maret 2026, Grup As at 31 March 2026, the Group classified its cash
mengklasifikasikan kas dan bank, piutang usaha, and cash in banks, trade receivables, other
piutang lain-lain, pinjaman kepada pihak berelasi receivables, loan to related parties and other non-
dan aset tidak lancar lain-lain sebesar current assets amounting to US$655,047,250 as
US$655.047.250 sebagai aset keuangan yang diukur financial assets at amortized cost (31 December
pada biaya perolehan diamortisasi (31 Desember 2025: US$502,510,624).
2025: US$502.510.624).
Pada tanggal 31 Maret 2026, Grup As at 31 March 2026, the Group classified its
mengklasifikasikan aset derivatif sebesar derivative assets amounting to US$8,170,769 as
US$8.170.769 sebagai aset keuangan yang diukur financial assets at FVOCI and derivative liabilities
pada nilai wajar melalui penghasilan komprehensif amounting to US$34,064,252 (31 December 2025:
lain dan liabilitas derivatif sebesar US$34.064.252 US$22,021,093) as financial liabilities at FVTPL.
(31 Desember 2025: US$22.021.093) sebagai
liabilitas keuangan yang diukur pada nilai wajar
melalui laba rugi.
Pada tanggal 31 Maret 2026, Grup As at 31 March 2026, the Group classified its trade
mengklasifikasikan utang usaha, utang lain-lain, payables, other payables, accrued expenses,
beban yang masih harus dibayar, utang dividen, dividends payables, borrowings, bonds payable,
pinjaman, utang obligasi, sukuk dan liabilitas sewa sharia bonds and lease liabilities amounting to
sebesar US$1.352.878.851 sebagai liabilitas US$1,352,878,851 as financial liabilities carried at
keuangan yang diukur pada biaya perolehan amortized cost (31 December 2025:
diamortisasi (31 Desember 2025: US$1.255.420.455). US$1,255,420,455).
36. LABA/(RUGI) PER SAHAM 36. EARNINGS/(LOSS) PER SHARE
31 Maret/ 31 Maret/
March 2026 March 2025
Laba/(rugi) konsolidasian periode berjalan Consolidated profit/(loss) for the period
yang dapat diatribusikan kepada pemilik attributable to the owners of the
entitas induk 29,948,485 ( 3,457,255) parent entity
Rata-rata tertimbang jumlah saham biasa Weighted average number of ordinary
yang beredar 107,995,419,900 107,995,419,900 shares outstanding
Basic and diluted earnings/(loss)
Laba/(rugi) per saham dasar dan dilusian 0.00028 ( 0.00003) per share
Perusahaan tidak memiliki instrumen berpotensi The Company does not have dilutive potential
saham biasa yang bersifat dilutif sehingga laba per ordinary shares so that the basic earnings per share
saham dasar sama dengan laba per saham dilusian. is the same as the diluted earnings per share.
Page 126
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/115 Exhibit E/115
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
37. PERJANJIAN PENTING, IKATAN DAN KONTINJENSI 37. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
CONTINGENCIES
a. Perjanjian penting a. Significant agreements
SCM, sebagai produsen nikel, mengadakan SCM, as a nickel producer, has entered into a
sejumlah perjanjian penambangan nikel. number of nickel mining agreements. Under
Berdasarkan perjanjian-perjanjian tersebut, the agreements, SCM is required to pay
SCM diharuskan membayar biaya sewa dan contractors a rental fee and a service fee,
biaya jasa kepada kontraktor, dihitung secara calculated on a monthly basis, based on a
bulanan, berdasarkan rumus yang meliputi formula which includes the amount of nickel
jumlah bijih nikel yang diangkut dan ore transported and overburden mined and
overburden yang ditambang dan diangkut. transported. The contractors will provide the
Kontraktor akan menyediakan sarana, mesin, equipment, machineries, appliances and other
perlengkapan, dan barang-barang lain yang supplies necessary and also in some instances
diperlukan dan dalam kondisi tertentu dapat may use SCM’s own equipment for performing
menggunakan peralatan SCM sendiri untuk the mining and transportation services and are
melakukan jasa penambangan dan required to meet certain minimum production
transportasi, dan diharuskan memenuhi requirements.
persyaratan minimum produksi tertentu.
Perusahaan/ Kontraktor/ Tipe perjanjian/ Tanggal perjanjian/ Akhir periode perjanjian/
Entity Contractor Agreement type Agreement date Agreement period end
SCM PT Rajawali Emas Ancora Jasa penambangan nikel/ 14 Juli/July 2025 30 Juni/June 2028
Lestari Nickel mining services work
SCM PT Hillconjaya Sakti Jasa penambangan nikel/ 20 Mei/May 2024 19 Mei/May 2027
Nickel mining services work
SCM PT Jakarta Anugerah Jasa penambangan dan 1 Juli/July 2024 30 Juni/June 2027
Mandiri pengangkutan bijih limonit/
Mining and limonite ore hauling
SCM PT Uniteda Arkato Sewa peralatan/ 20 Januari/January 5 Oktober/October 2026
Equipment rental 2022
SCM MMS Perjanjian penyediaan jasa/ 30 September 2024 2 (dua) tahun dan dapat
Services provision agreement diperpanjang secara otomatis
dengan periode 2 (dua) tahun
sampai dengan dilakukan
pengakhiran/2 (two) years and
may continue automatically
extend for 2 (two) years period
until termination is made
Page 127
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/116 Exhibit E/116
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
37. PERJANJIAN PENTING, IKATAN DAN KONTINJENSI 37. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
(Lanjutan) CONTINGENCIES (Continued)
a. Perjanjian penting (Lanjutan) a. Significant agreements (Continued)
Perusahaan/ Kontraktor/ Tipe perjanjian/ Tanggal perjanjian/ Akhir periode perjanjian/
Entity Contractor Agreement type Agreement date Agreement period end
SCM PT Malachite International Jasa pengangkutan bijih nikel/ 26 Agustus/August 25 Agustus/August 2026
Mining Nickel ore hauling services 2023
SCM PT Jakarta Anugerah Jasa pengangkutan bijih nikel/ 4 September 2023 3 September 2026
Mandiri Nickel ore hauling services
SCM PT Teknologi Infrastruktur Jasa pengangkutan bijih nikel/ 1 April 2025 31 Maret/March 2028
Indonesia Nickel ore hauling services
MTI PT Batutua Tembaga Raya Pemasok material/ 10 Mei/May 2021 Dimulai tidak lebih awal dari
dan/and PT Batutua Material supply 1 September 2022 dan akan
Kharisma Permai berlaku untuk jangka waktu 10
tahun ke depan serta akan
diperpanjang secara otomatis
setiap 2 tahun/
Since the date not earlier than
1 September 2022 and shall
continue in effect for a 10-year
term and shall renew
automatically on
a 2 yearly basis
MTI PT Batutua Alam Persada Pengaturan pengiriman/ 10 Mei/May 2021 Dimulai tidak lebih awal dari
Shipping arrangement 1 September 2022 dan akan
berlaku untuk jangka waktu 10
tahun ke depan serta akan
diperpanjang secara otomatis
setiap 2 tahun/
Since the date not earlier than
1 September 2022 and shall
continue in effect for a 10-year
term and shall renew
automatically on
a 2 yearly basis
Perusahaan/ Pelanggan/ Tipe perjanjian/ Tanggal perjanjian/ Akhir periode perjanjian/
Entity Customer Agreement type Agreement date Agreement period end
MTI QMB Pemasok asam dan uap/ 30 April 2021 Dimulai 1 Oktober 2022
Acid and stream supply (tergantung penyesuaian oleh
para pihak) dan akan berlaku
untuk jangka waktu 10 tahun ke
depan/
Since 1 October 2022 (subject to
adjustment by the parties) and
continue in effect for a 10-year
term
Page 128
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/117 Exhibit E/117
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
37. PERJANJIAN PENTING, IKATAN DAN KONTINJENSI 37. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
(Lanjutan) CONTINGENCIES (Continued)
a. Perjanjian penting (Lanjutan) a. Significant agreements (Continued)
Perjanjian Opsi Beli dengan Arniko Call Option Agreement with Arniko
Pada bulan Mei 2024, Perusahaan dan Arniko In May 2024, the Company and Arniko
menandatangani Perjanjian Opsi Beli, entered into Call Option Agreement, as lastly
sebagaimana terakhir diubah berdasarkan amended based on Amendment of Call Option
Amendemen Perjanjian Opsi Beli pada bulan Agreement in May 2025, whereby the
Mei 2025, dimana Perusahaan dapat Company may exercise the call option during
melaksanakan opsi beli dalam periode opsi, the option period, which is the period
yaitu periode yang dimulai pada tanggal commences on the date the hurdle conditions
terpenuhinya syarat awal dan berlanjut are satisfied and continues until the later of
hingga yang belakangan antara kedua waktu the following: i) 4 years from the date of Call
berikut: i) 4 tahun sejak tanggal Perjanjian Option Agreement; and ii) 18 months after
Opsi Beli; dan ii) 18 bulan setelah the hurdle conditions are satisfied. The
terpenuhinya syarat awal. Syarat awal adalah: hurdle conditions are: i) ESG’s HPAL Plant
i) Pabrik HPAL ESG telah memulai operasional having commenced operation and operations
dan operasional berlangsung selama periode continuing for one year period; and ii) ESG
satu tahun; dan ii) ESG telah menyelesaikan having completed four successive quarters of
empat triwulan berturut-turut dengan EBITDA EBITDA-positive operations.
operasional yang positif.
Perjanjian Opsi Beli dengan Devmalla Call Option Agreement with Devmalla
Pada bulan Februari 2025, Perusahaan dan In February 2025, the Company and Devmalla
Devmalla Materials Pte. Ltd. (“Devmalla”) Materials Pte. Ltd. (“Devmalla”) entered
menandatangani Perjanjian Opsi Beli into Call Option Agreement in relation to
sehubungan dengan saham pada MEB, dimana shares in MEB, whereby the Company may
Perusahaan dapat melaksanakan opsi beli atas exercise the call option over (i) shares is or
(i) saham yang dimiliki atau akan dimiliki will be owned by Devmalla in MEB; and/or (ii)
Devmalla dalam MEB; dan/atau (ii) uang muka advance capital provided by Devmalla to
modal yang disediakan oleh Devmalla kepada MEB, during the option period, which is the
MEB, dalam periode opsi, yaitu periode yang period commences on the date the hurdle
dimulai pada tanggal terpenuhinya syarat conditions are satisfied and continues until
awal dan berlanjut hingga yang belakangan the later of the following: i) 5 years from the
antara kedua waktu berikut: i) 5 tahun sejak date of Call Option Agreement; and ii) 18
tanggal Perjanjian Opsi Beli; dan ii) 18 bulan months after the hurdle conditions are
setelah terpenuhinya syarat awal. Syarat awal satisfied. The hurdle conditions are: i)
adalah: i) Pabrik HPAL SLNC telah memulai SLNC’s HPAL Plant having commenced
operasional dan operasional berlangsung operation and operations continuing for a
selama periode satu tahun; dan ii) SLNC telah one year period; and ii) SLNC having
menyelesaikan empat triwulan berturut-turut completed four successive quarters of
beroperasi dengan EBITDA yang positif. EBITDA-positive operations.
Page 129
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/118 Exhibit E/118
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
37. PERJANJIAN PENTING, IKATAN DAN KONTINJENSI 37. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
(Lanjutan) CONTINGENCIES (Continued)
b. Undang-Undang Pertambangan Indonesia b. Indonesian Mining Law
Pada bulan Maret 2025, Dewan Perwakilan In March 2025, the House of Representative
Rakyat Republik Indonesia mengeluarkan of the Republic of Indonesia has issued Law
Undang-Undang No. 2 Tahun 2025 sebagai No. 2 Year 2025 regarding the Amendment of
Amendemen atas Undang-Undang No. 3 Tahun Law No. 3 Year 2020 on Mineral and Coal
2020 tentang Pertambangan Mineral dan Mining (the “Amendment”). The changes of
Batubara (“Amendemen”). Perubahan dalam the Amendment are as follows:
Amendemen ini adalah sebagai berikut:
1. Prioritas Kebutuhan Dalam Negeri 1. Domestic Market Obligation
Pemegang IUP dan Izin Usaha Holders of IUP and Special Mining
Pertambangan Khusus (“IUPK”) pada Business Licenses (“IUPK”) in the
tahap operasi produksi wajib memenuhi production operation stage are required
kebutuhan dalam negeri terlebih dahulu to fulfill domestic needs before export,
sebelum ekspor dan mengutamakan with priority given to meeting the needs
pemenuhan kebutuhan Badan Usaha Milik of state-owned enterprises (“BUMN”)
Negara (“BUMN”) yang menguasai hajat that serve the public interest.
hidup orang banyak.
2. Dukungan terhadap Perguruan Tinggi 2. Support for Higher Education Institutions
Wilayah Izin Usaha Pertambangan Mining Business License Areas (“WIUP”)
(“WIUP”) mineral logam dan batubara for mineral and coal may be
dapat diberikan secara prioritas kepada granted on a priority basis to BUMN,
BUMN, Badan Usaha Milik Daerah regional government-owned enterprises
(“BUMD”), atau badan usaha swasta (“BUMD”), or private entities for the
untuk kepentingan perguruan tinggi, benefit of higher education institutions,
dengan kewajiban berbagi keuntungan with an obligation to share profits in
sesuai perjanjian kerja sama. accordance with cooperation
agreements.
3. Penguatan Hilirisasi 3. Strengthening Downstream
WIUP Mineral logam dan batubara dalam WIUP for mineral and coal allocated for
rangka hilirisasi dapat diberikan kepada downstream activities may be granted on
BUMN dan badan usaha swasta dengan a priority basis to BUMN and private
cara prioritas. entities.
4. Jangka Waktu Kegiatan Operasi Produksi 4. Term of Integrated Mining Production
Penambangan Terintegrasi Komoditas Operations for Certain Non-Metallic
Mineral Non-Logam Tertentu Minerals
Kegiatan operasi produksi mineral non- Production operations for certain non-
logam tertentu yang terintegrasi dengan metallic minerals integrated with
fasilitas pengolahan dalam negeri domestic processing facilities are limited
ditetapkan maksimal 20 tahun, dengan to a maximum of 20 years, with 10-year
perpanjangan 10 tahun setiap kali setelah extensions each time, subject to
memenuhi persyaratan sesuai dengan compliance with applicable law and
ketentuan peraturan perundang- regulations.
undangan.
5. Prasyarat Tambahan Perpanjangan 5. Additional Requirements for the
Kontrak Karya (“KK”) dan Perjanjian Extension of Contracts of Work (“CoW”)
Karya Pengusahaan Pertambangan and Coal Mining Concession Agreement
Batubara (“PKP2B”) (“PKP2B”)
Setelah Amendemen, perpanjangan Following the Amendment, extensions of
KK/PKP2B menjadi IUPK hanya dapat CoW/PKP2B into IUPK only be granted
dilakukan setelah memenuhi persyaratan upon fulfilment of an additional
tambahan berupa audit lingkungan. requirement in the form of an
environmental audit.
Page 130
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/119 Exhibit E/119
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
38. JAMINAN REKLAMASI DAN PENUTUPAN TAMBANG 38. RECLAMATION GUARANTEES AND MINE CLOSURE
Pada tanggal 20 Desember 2010, Pemerintah On 20 December 2010, the Government of
Indonesia mengeluarkan peraturan implementasi Indonesia released an implementing regulation for
atas Undang-Undang Mineral No. 4 Tahun 2009 Mining Law No. 4 of 2009 regarding Mineral and
tentang Pertambangan Mineral dan Batubara Coal Mining as lastly amended by Perppu 2/2022,
sebagaimana terakhir diubah oleh Perppu 2/2022, i.e. Government Regulation No. 78 of 2010 that
yaitu Peraturan Pemerintah No. 78 Tahun 2010 yang deals with reclamation and post-mining activities
mengatur aktivitas reklamasi dan pascatambang for both IUP-Exploration and IUP-Production
untuk pemegang IUP-Eksplorasi dan IUP-Operasi Operation holders. On 9 September 2021, the
Produksi. Pada tanggal 9 September 2021, Government of Indonesia issued the Governmental
Pemerintah Indonesia mengeluarkan Peraturan Regulation No. 96 of 2021 on the Implementation
Pemerintah No. 96 Tahun 2021 tentang Pelaksanaan of Mineral and Coal Mining Business Activities
Kegiatan Usaha Pertambangan Mineral dan which also deals with reclamation and post-mining
Batubara yang juga mengatur mengenai aktivitas activities.
reklamasi dan pascatambang.
Pemegang IUP-Eksplorasi, ketentuannya antara An IUP-Exploration holder, among other
lain, harus memuat rencana reklamasi di dalam requirements, must include a reclamation plan in
rencana kerja dan anggaran biaya eksplorasinya dan its exploration work plan and budget and provide a
menyediakan jaminan reklamasi berupa deposito reclamation guarantee in the form of a time
berjangka yang ditempatkan pada bank deposit placed at a state-owned bank.
pemerintah.
Pemegang IUP-Operasi Produksi, ketentuannya An IUP-Production Operation holder, among other
antara lain, harus menyiapkan (1) rencana requirements, must (1) prepare a five-year
reklamasi lima tahunan; (2) rencana pascatambang; reclamation plan; (2) prepare a post-mining plan;
(3) menyediakan jaminan reklamasi yang dapat (3) provide a reclamation guarantee which may be
berupa rekening bersama atau deposito berjangka in the form of a joint account or time deposit
yang ditempatkan pada bank pemerintah, bank placed at a state-owned bank, a bank guarantee, or
garansi, atau cadangan akuntansi (bila memenuhi an accounting provision (if it meets the
persyaratan); dan (4) menyediakan jaminan requirements); and (4) provide a post-mine
pascatambang berupa deposito berjangka yang guarantee in the form of a time deposit at a state-
ditempatkan di bank pemerintah. owned bank.
Penempatan jaminan reklamasi dan jaminan The requirement to provide a reclamation
pascatambang tidak menghilangkan kewajiban guarantee and a post-mining guarantee does not
pemegang IUP dari ketentuan untuk melaksanakan release the IUP holder from the requirement to
aktivitas reklamasi dan pascatambang. perform reclamation and post-mining activities.
Pada tanggal 3 Mei 2018, Kementerian Energi dan On 3 May 2018, the Ministry of Energy and Mineral
Sumber Daya Mineral (“KESDM”) mengeluarkan Resources (“MoEMR”) issued Ministerial Regulation
Peraturan Menteri No. 26/2018 (“Permen ESDM No. 26/2018 (“Permen ESDM 26/2018”) regarding
26/2018”) mengenai prinsip pertambangan dan proper mining principles and supervision in mineral
pengawasan yang tepat dalam aktivitas and coal mining activities, and on 7 May 2018, the
pertambangan mineral dan batubara, dan pada MoEMR issued Ministerial Decree No. 1827
tanggal 7 Mei 2018, KESDM mengeluarkan K/30/MEM/2018 (“Kepmen ESDM 1827/2018”)
Keputusan Menteri No. 1827 K/30/MEM/2018 regarding guidelines for proper mining techniques
(“Kepmen ESDM 1827/2018”) mengenai pedoman and principles. As of the effective date of these
untuk teknik dan prinsip pertambangan yang tepat. regulations, Ministerial Regulation No. 07/2014
Pada tanggal peraturan ini berlaku efektif, regarding mine reclamation and post-mining
Peraturan Menteri No. 07/2014 mengenai reklamasi activities in mineral and coal mining activities was
dan pascatambang pada kegiatan usaha revoked and is no longer valid.
pertambangan mineral dan batubara dicabut dan
tidak berlaku lagi.
Page 131
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/120 Exhibit E/120
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
38. JAMINAN REKLAMASI DAN PENUTUPAN TAMBANG 38. RECLAMATION GUARANTEES AND MINE CLOSURE
(Lanjutan) (Continued)
Dari waktu ke waktu, ABP dan SCM dapat melakukan From time to time, ABP and SCM can review or
peninjauan atau revisi terhadap rencana-rencana revise existing plans, including reclamation and
yang telah ada, termasuk diantaranya adalah post-mining plans in accordance with the applicable
rencana reklamasi dan pascatambang sesuai regulations.
ketentuan yang berlaku.
Kepmen ESDM 1827/2018 menetapkan bahwa suatu Kepmen ESDM 1827/2018 states that a company is
perusahaan disyaratkan untuk menyediakan required to provide mine reclamation and post-
jaminan untuk reklamasi tambang dan mining guarantees which may be in the form of a
pascatambang yang dapat berupa deposito time deposit, bank guarantee or accounting
berjangka, jaminan bank, rekening bersama, atau reserve, all of which have a duration corresponding
cadangan akuntansi yang jangka waktunya sesuai to the reclamation schedule.
dengan jadwal reklamasi.
Jumlah penempatan (dalam Rp)/
Surat Keputusan/Decree Placed amount (in Rp)
Perusahaan/ Periode/ 31 Maret/ 31 Desember/
Entity Nomor/Number Tanggal/Date Period March 2026 December 2025 Bentuk/Form
ABP B-347/MB.07/ 24 Januari/ 2021-2025 523,730,000 523,730,000 Deposito berjangka/Time
DJB.T.2022 January 2022 deposits
SCM 1175/30/DJB/2017 5 Juni/ 2016-2018 265,580,000 265,580,000 Deposito berjangka/Time
June 2017 deposits
294/37.06/DJB/ 2018 8 Februari/ 2018-2022 - 7,470,291,400 Bank garansi/
February 2018 Bank guarantees
B-1907/MB.07/ 27 Oktober/ 2023-2027 30,717,700,526 30,717,700,526 Deposito berjangka/Time
DJB.T/2024 October 2024 deposits
T-2335/MB.07/ 8 Januari/ 2018-2022 7,470,291,400 - Deposito berjangka/Time
DJB/2025 January 2026 deposits
Tabel di bawah ini menunjukkan jaminan The below table sets out post-mining guarantees
pascatambang yang diwajibkan dan ditempatkan that are required and have been placed by the
oleh Grup pada tanggal 31 Maret 2026 dan Group as at 31 March 2026 and 31 December 2025:
31 Desember 2025 adalah sebagai berikut:
Jumlah penempatan (dalam Rp)/
Surat Keputusan/Decree Placed amount (in Rp)
Perusahaan/ Periode/ 31 Maret/ 31 Desember/
Entity Nomor/Number Tanggal/Date Period March 2026 December 2025 Bentuk/Form
ABP B-347/MB.07/ 24 Januari/ 2022-2024 604,731,000 604,731,000 Deposito berjangka/Time
DJB.T.2022 January 2022 deposits
SCM B-291/MB.07/ 21 Januari/ 2021-2032 11,145,945,578 6,556,438,575 Deposito berjangka/Time
DJB.T/2022 January 2022 deposits
Page 132
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/121 Exhibit E/121
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN MANAGEMENT
Risiko utama yang timbul dari instrumen keuangan The main risks arising from the Group’s financial
Grup adalah risiko kredit, risiko likuiditas, risiko instruments are credit risk, liquidity risk, currency
mata uang asing, risiko komoditi, risiko tingkat suku risk, commodities risk, interest rate risk and fair
bunga dan estimasi nilai wajar instrumen keuangan. value estimation of financial instruments. Interest
Kepentingan untuk mengelola risiko ini telah to manage this risk has significantly increased by
meningkat secara signifikan dengan considering the changes and volatility in financial
mempertimbangkan perubahan dan volatilitas markets both in Indonesia and international. The
pasar keuangan baik di Indonesia maupun Group’s management reviews and approves policies
internasional. Manajemen Grup menelaah dan for managing risks as summarized below.
menyetujui kebijakan untuk mengelola risiko-risiko
yang dirangkum di bawah ini.
Berikut adalah ringkasan dari tujuan dan kebijakan The followings are summary of objectives and
dari manajemen risiko keuangan Grup: policies of the Group’s financial risk management:
a. Risiko kredit a. Credit risk
Risiko kredit adalah salah satu risiko dimana Credit risk is the risk where one of the parties
salah satu pihak atas instrumen keuangan on financial instrument will fail to meet its
akan gagal memenuhi liabilitasnya dan obligations, leading to a financial loss.
menyebabkan pihak lain mengalami kerugian
keuangan.
Grup memiliki risiko kredit yang terutama The Group faced the credit risk mainly derived
berasal dari kas di bank, piutang usaha, from cash in banks, trade receivables, other
piutang lain-lain, pinjaman kepada pihak receivables, loan to related parties and other
berelasi dan aset tidak lancar lain-lain. non-current assets.
Grup meminimalisir risiko kredit mengingat The Group minimizes credit risk since the Group
Grup memiliki kebijakan yang jelas dalam has clear policies on the selection of customers
pemilihan pelanggan dan simpanan pada bank and deposits with banks by placing their funds
dengan menempatkan dana Grup hanya pada only in banks with a good reputation.
bank dengan reputasi baik.
Manajemen yakin terhadap kemampuan untuk Management is confident in its ability to control
mengendalikan dan menjaga eksposur risiko and sustain minimal exposure of credit risk. The
kredit pada tingkat yang minimal. Eksposur maximum credit risk exposure as at 31 March 2026
maksimum risiko kredit pada tanggal is US$654,990,880 (31 December 2025:
31 Maret 2026 adalah US$654.990.880 US$502,464,990).
(31 Desember 2025: US$502.464.990).
b. Risiko likuiditas b. Liquidity risk
Risiko likuiditas adalah risiko bahwa Grup Liquidity risk is the risk that the Group will
akan mengalami kesulitan dalam memenuhi encounter difficulty in meeting financial
liabilitas keuangan karena kekurangan dana. obligations due to shortage of funds.
Page 133
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/122 Exhibit E/122
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
b. Risiko likuiditas (Lanjutan) b. Liquidity risk (Continued)
Grup memonitor kebutuhan likuiditas dengan The Group monitors their liquidity needs by
memonitor jadwal pembayaran utang atas closely monitoring debt servicing payment
liabilitas keuangan, terutama utang pihak schedule for financial liabilities, particularly
ketiga dan memonitor arus kas keluar the third party loans, and their cash outflows
sehubungan dengan aktivitas operasional due to day-to-day operations. Management also
setiap hari. Manajemen juga secara terus- continuously assesses conditions in the financial
menerus menilai kondisi pasar keuangan markets for opportunities to obtain optimal
untuk melihat peluang mendapatkan sumber funding sources.
pendanaan yang optimal.
Tabel di bawah ini menganalisa liabilitas The table below analyzes the Group’s financial
keuangan Grup pada tanggal pelaporan liabilities at the reporting date into relevant
berdasarkan kelompok jatuh temponya dari maturity groupings based on the remaining
sisa periode hingga tanggal jatuh tempo period to the contractual maturity date. The
kontraktual. Jumlah yang diungkapkan dalam amounts disclosed in the table represent
tabel ini adalah nilai arus kas kontraktual yang contractual undiscounted cash flows including
tidak terdiskonto termasuk estimasi estimated interest payments:
pembayaran bunga:
Lebih dari
satu tahun
dan kurang dari
lima tahun/
Arus kas More than one
kontraktual/ Sampai dengan year
Jumlah tercatat/ Contractual satu tahun/ and not later
Carrying amount cash flows Until one year than five years
31 Maret 2026 31 March 2026
Utang usaha 149,083,329 149,083,329 149,083,329 - Trade payables
Beban yang masih harus
dibayar 92,926,193 92,926,193 88,819,011 4,107,182 Accrued expenses
Liabillitas sewa 3,389,564 3,675,618 2,191,488 1,484,130 Lease liabilities
Pinjaman 301,098,680 341,768,458 162,341,470 179,426,988 Borrowings
Utang obligasi 607,624,945 715,805,308 211,726,651 504,078,657 Bonds payable
Sukuk 198,756,140 241,543,489 63,849,863 177,693,626 Sharia bonds
Liabilitas derivatif 34,064,252 34,064,252 8,548,869 25,515,383 Derivative liabilities
Jumlah 1,386,943,103 1,578,866,647 686,560,681 892,305,966 Total
31 Desember 2025 31 December 2025
Utang usaha 157,449,007 157,449,007 157,449,007 - Trade payables
Utang lain-lain 46,506,800 46,506,800 46,506,800 - Other payables
Utang dividen 16,117,700 16,117,700 16,117,700 - Dividends payables
Beban yang masih harus
dibayar 90,405,962 90,405,962 87,251,615 3,154,347 Accrued expenses
Liabillitas sewa 3,788,238 4,150,810 2,272,781 1,878,029 Lease liabilities
Pinjaman 128,924,322 161,942,334 7,891,625 154,050,709 Borrowings
Utang obligasi 612,016,911 734,689,357 216,708,197 517,981,160 Bonds payable
Sukuk 200,211,515 247,594,423 65,301,963 182,292,460 Sharia bonds
Liabilitas derivatif 22,021,093 22,021,093 5,667,510 16,353,583 Derivative liabilities
Jumlah 1,277,441,548 1,480,877,486 605,167,198 875,710,288 Total
Page 134
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/123 Exhibit E/123
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
c. Risiko mata uang asing c. Currency risk
Risiko mata uang asing adalah risiko di mana Currency risk is the risk that the fair value or
nilai wajar atau arus kas masa datang dari future cash flows of a financial instrument will
suatu instrumen keuangan akan berfluktuasi fluctuate due to changes in foreign currency
akibat perubahan nilai tukar mata uang asing. exchange rates.
Grup mengelola risiko mata uang asing dengan The Group manages the currency risk by
menyesuaikan antara penerimaan dan matching receipts and payments in the same
pembayaran dalam mata uang yang sama dan currency and through regular monitoring
melakukan pengawasan secara berkala related to the exchange rate fluctuation.
terhadap fluktuasi pertukaran nilai mata uang
asing.
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the
perubahan yang wajar dari nilai tukar mata sensitivity to a reasonably possible change in
uang asing terhadap Dolar AS, dimana semua foreign currencies’ exchange rate against US
variabel lain konstan, terhadap laba sebelum Dollars with all other variables held constant,
pajak untuk periode tiga bulan yang berakhir to the profit before tax for the three-month
pada 31 Maret 2026 dan untuk tahun yang period ended 31 March 2026 and for the year
berakhir pada tanggal 31 Desember 2025. ended 31 December 2025. Five percent (5%) is
Lima persen (5%) adalah tingkat sensitivitas the sensitivity rate used when reporting foreign
yang digunakan pada saat pelaporan mata currency risk internally to key management
uang asing kepada manajemen kunci secara personnel and represents management
internal dan merupakan penilaian manajemen assessment of a reasonably possible change in
yang mungkin terjadi atas nilai tukar. foreign exchange rates.
Kenaikan/(penurunan) Efek terhadap laba sebelum pajak/
dalam persentase/ Effect on profit before tax
Increase/(decrease) in 31 Maret/ 31 Desember/
percentage March 2026 December 2025
Rp 5% ( 9,065,764)( 8,881,748) Rp
(5%) 10,020,054 9,816,669
CNY 5% 285,516 181,954 CNY
(5%) ( 315,570)( 201,107)
EUR 5% 1,957 898 EUR
(5%) ( 2,163)( 993)
AUD 5% 3,925 - AUD
(5%) ( 4,338) -
Dampak dari perubahan nilai tukar Dolar AS The impact of the above change in exchange
untuk mata uang lainnya terutama perubahan rates of US Dollars to other currencies is mainly
nilai aset dan liabilitas moneter dalam mata the result of changes in the value of foreign
uang asing dapat dilihat di Catatan 34. currencies denominated monetary assets and
liabilities refer to Note 34.
Page 135
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/124 Exhibit E/124
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
d. Risiko komoditi d. Commodities risk
Fokus utama Grup adalah pertambangan dan The Group’s main focus is nickel mining and
produksi nikel. Harga pasar dari komoditi ini production. The market prices for these
dapat selalu berfluktuasi. Fluktuasi tersebut commodities can fluctuate. This fluctuation is
ditimbulkan oleh berbagai faktor di luar caused by numerous factors beyond the Group’s
kendali Grup seperti: posisi-posisi spekulatif control such as: speculative positions taken by
yang diambil oleh para investor, perubahan investors, changes in the demand and supply for
dalam permintaan dan penawaran komoditi, commodities, actual or expected sales by
penjualan aktual maupun harapan penjualan central banks and the International Monetary
komoditi oleh Bank Sentral dan International Fund, global or regional economic events.
Monetary Fund, serta peristiwa-peristiwa A sustained period of commodities price
ekonomi global maupun regional. volatility may adversely affect the Group’s
Keberlanjutan perubahan harga komoditi yang ability to evaluate the feasibility of
terus menerus dapat mempengaruhi undertaking new capital projects or continuing
kemampuan Grup untuk mengevaluasi existing operations or to make other long-term
kelayakan usaha proyek-proyek permodalan strategic decisions.
baru atau kelanjutan kegiatan operasional
yang ada, atau membuat keputusan-
keputusan strategis jangka panjang lainnya.
Dalam memitigasi risiko ini, Grup melakukan In mitigating this risk, the Group conducts an
analisis atas harga jual nikel berdasarkan analysis of the nickel selling price based on the
harga pasar. market price.
e. Risiko tingkat suku bunga e. Interest rate risk
Risiko tingkat suku bunga Grup terutama The Group’s interest rate risk mostly arises
timbul dari pinjaman. Pinjaman yang from the borrowings. Borrowings issued at
diterbitkan dengan tingkat bunga floating rates expose the Group to cash flow
mengambang mengekspos Grup terhadap interest rate risk and borrowings issued at fixed
risiko suku bunga arus kas dan pinjaman rates expose the Group to fair value interest
dengan tingkat suku bunga tetap mengekspos rate risk.
Grup terhadap risiko nilai wajar suku bunga.
Kebijakan Grup adalah mengelola risiko arus The Group’s policy is to manage its cash flows
kas dari suku bunga dengan melakukan interest rate risk by refinancing borrowings at a
pembiayaan pinjaman dengan suku bunga lower interest rate.
yang lebih rendah.
Pada tanggal 31 Maret 2026, jika tingkat suku As at 31 March 2026, if interest rate on
bunga atas pinjaman lebih tinggi/rendah 10 borrowings has been 10 basis points
basis poin dan variabel lain dianggap tetap, higher/lower with all other variables held
laba periode berjalan akan lebih rendah/tinggi constant, profit for the period would have been
sebesar US$41.275 (31 Desember 2025: lower/higher by US$41,275 (31 December 2025:
US$195.696). US$195,696).
Page 136
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/125 Exhibit E/125
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
f. Estimasi nilai wajar instrumen keuangan f. Fair value estimation of financial instruments
Nilai wajar aset dan liabilitas keuangan The fair value of financial assets and liabilities
diestimasi untuk keperluan pengakuan must be estimated for recognition and
dan pengukuran atau untuk keperluan measurement or for disclosure purposes.
pengungkapan.
PSAK No. 107, “Instrumen Keuangan: SFAS No. 107, “Financial Instruments: Disclosures”
Pengungkapan” mensyaratkan pengungkapan requires disclosure of fair value measurements
atas pengukuran nilai wajar dengan tingkat by level of the following fair value measurement
hierarki nilai wajar sebagai berikut: hierarchy:
(a) Harga kuotasian (tidak disesuaikan) (a) Quoted prices (unadjusted) in active
dalam pasar aktif untuk aset atau markets for identical assets or liabilities
liabilitas yang identik (tingkat 1); (level 1);
(b) Input selain harga kuotasian yang (b) Inputs other than quoted prices included
termasuk dalam tingkat 1 yang dapat within level 1 that are observable for the
diobservasi untuk aset atau liabilitas, baik asset or liability, either directly (as prices)
secara langsung (misalnya harga) atau or indirectly (derived from prices) (level 2);
secara tidak langsung (misalnya derivasi and
dari harga) (tingkat 2); dan
(c) Input untuk aset atau liabilitas yang (c) Inputs for the asset or liability that are not
bukan berdasarkan data pasar yang dapat based on observable market data
diobservasi (input yang tidak dapat (unobservable inputs) (level 3).
diobservasi) (tingkat 3).
Teknik penilaian tertentu digunakan untuk Specific valuation techniques used to value
menentukan nilai instrumen keuangan financial instruments include:
mencakup:
(a) Penggunaan harga yang diperoleh dari (a) The use of quoted market prices or dealer
bursa atau pedagang efek untuk quotes for similar instruments; and
instrumen sejenis; dan
(b) Teknik lain seperti analisis arus kas yang (b) Other techniques, such as discounted cash
didiskonto digunakan untuk menentukan flow analysis, are used to determine fair
nilai instrumen keuangan lainnya. value for the remaining financial
instruments.
Tabel di bawah ini menggambarkan nilai The table below describes the carrying amount
tercatat dan nilai wajar dari liabilitas keuangan and fair value of the financial liabilities that are
yang tidak disajikan Grup pada nilai wajarnya: not presented by the Group at fair value:
Jumlah tercatat/ Nilai wajar/
Carrying amount Fair value
31 Maret 2026 31 March 2026
Utang obligasi 607,624,945 644,236,355 Bonds payable
Sukuk 198,756,140 209,765,316 Sharia bonds
31 Desember 2025 31 December 2025
Utang obligasi 612,016,911 638,055,065 Bonds payable
Sukuk 200,211,515 216,145,021 Sharia bonds
Page 137
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/126 Exhibit E/126
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
39. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 39. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
f. Estimasi nilai wajar instrumen keuangan f. Fair value estimation of financial
(Lanjutan) instruments (Continued)
Nilai tercatat dari aset dan liabilitas keuangan The carrying amount of other financial assets
lainnya telah berkisar menunjukkan nilai and liabilities approximate their fair values due
wajarnya karena: i) memiliki sifat jangka to: i) the short-term nature of the financial
pendek dari instrumen keuangannya; atau ii) instruments; or ii) are liabilites with floating
merupakan liabilitas dengan tingkat suku interest rates.
bunga mengambang.
Untuk periode tiga bulan yang berakhir pada For the three-month period ended 31 March
tanggal 31 Maret 2026 dan untuk tahun yang 2026 and for the year ended 31 December 2025,
berakhir pada tanggal 31 Desember 2025, there were no transfers between levels.
tidak terdapat pengalihan antar tingkat.
40. MANAJEMEN PERMODALAN 40. CAPITAL MANAGEMENT
Tujuan Grup ketika mengelola modal adalah untuk The Group’s objective when managing capital is to
memastikan bahwa Grup mempertahankan rasio ensure that it maintains healthy capital ratios in
modal yang sehat untuk mendukung usaha dan order to support its business and maximize
memaksimalkan nilai pemegang saham. shareholder value.
Grup secara berkala meninjau dan mengelola The Group regularly reviews and manages its
struktur permodalan untuk mengoptimalkan capital structure to optimize the use of the Group’s
penggunaan sumber daya Grup, mempertimbangkan resources, takes into consideration the future
kebutuhan modal masa depan Grup dan proyeksi capital requirements of the Group and projected
peluang investasi strategis. strategic investment opportunities.
Grup mendapatkan fasilitas kredit dari bank dan The Group has agreed for the credit facility
pihak berelasi, utang obligasi dan sukuk provided by banks and related parties, bonds
sebagaimana yang telah di jelaskan di Catatan 17, payable and sharia bonds which described in Notes
19 dan 20 dalam catatan atas laporan keuangan 17, 19 and 20 of these interim consolidated
konsolidasian interim ini. financial statements.
41. SEGMEN OPERASI 41. OPERATING SEGMENT
Berdasarkan informasi keuangan yang digunakan Based on the financial information used by the
oleh pengambil keputusan operasional dalam chief operating decision maker in evaluating the
mengevaluasi kinerja segmen dan menentukan performance of segments and in the allocation of
alokasi sumber daya yang dimilikinya, manajemen resources, management considers the business
mempertimbangkan operasi bisnis dari perspektif operation from a business type perspective, which
jenis bisnis yang terdiri dari pertambangan, comprises mining, manufacturing and others. All
manufaktur dan lain-lain. Seluruh transaksi antar transactions between segments have been
segmen telah dieliminasi. eliminated.
Page 138
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/127 Exhibit E/127
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
41. SEGMEN OPERASI (Lanjutan) 41. OPERATING SEGMENT (Continued)
Informasi menurut segmen usaha yang merupakan The information concerning the business segments
segmen yang dilaporkan adalah sebagai berikut: that are considered reportable is as follows:
31 Maret/March 2026
Pertambangan/ Manufaktur/ Lainnya/ Eliminasi/ Saldo akhir/
Mining Manufacturing Others Elimination Ending balance
Pendapatan di luar segmen 106,854,038 348,280,012 - - 455,134,050 External revenue
Pendapatan antar segmen 51,454,819 - - ( 51,454,819 ) - Inter-segment revenue
Pendapatan usaha 158,308,857 348,280,012 - ( 51,454,819 ) 455,134,050 Revenue
Beban pokok pendapatan ( 95,512,451 ) ( 279,942,130) - 45,149,859 ( 330,304,722 ) Cost of revenue
Beban penjualan dan Selling and marketing
pemasaran - ( 1,313,163 ) - - ( 1,313,163 ) expenses
Beban umum dan General and administrative
administrasi ( 1,240,656 ) ( 2,979,598 )( 5,901,471 ) 23 ( 10,121,702 ) expenses
Pendapatan keuangan 270,788 1,105,740 16,772,869 ( 15,994,918 ) 2,154,479 Finance income
Biaya keuangan ( 1,719,584 ) ( 9,153,750) ( 21,692,331 ) 15,994,918 ( 16,570,747 ) Finance costs
Beban pajak penghasilan ( 13,168,431 ) ( 1,492,956 )( 261,598 ) 1,131,447 ( 13,791,538 ) Income tax expense
Laba/(rugi) periode
berjalan 46,063,807 52,871,510 ( 12,636,603 ) ( 4,342,166 ) 81,956,548 Profit/(loss) for the period
Depreciation and
Penyusutan dan amortisasi ( 3,808,971 ) ( 21,579,605 )( 238,620 ) ( 4,926,506 ) ( 30,553,702 ) amortization
31 Maret 2026 31 March 2026
Aset segmen 707,124,472 2,242,463,629 3,437,652,961 ( 2,418,960,782 ) 3,968,280,280 Segment assets
Liabilitas segmen 183,127,263 1,096,232,752 1,133,040,533 ( 884,833,420 ) 1,527,567,128 Segment liabilities
31 Maret/March 2025
Pertambangan/ Manufaktur/ Lainnya/ Eliminasi/ Saldo akhir/
Mining Manufacturing Others Elimination Ending balance
Pendapatan di luar segmen 31,832,892 334,277,784 - - 366,110,676 External revenue
Pendapatan antar segmen 18,659,473 - - ( 18,659,473 ) Inter-segment revenue
Pendapatan usaha 50,492,365 334,277,784 - ( 18,659,473 ) 366,110,676 Revenue
Beban pokok pendapatan ( 42,865,076 ) ( 320,107,137) - 15,734,955 ( 347,237,258 ) Cost of revenue
Beban penjualan dan Selling and marketing
pemasaran - ( 1,064,876 ) - - ( 1,064,876 ) expenses
Beban umum dan General and administrative
administrasi ( 1,434,674 ) ( 1,719,915 )( 3,121,260 ) 23 ( 6,275,826 ) expenses
Pendapatan keuangan 185,172 1,172,577 8,730,146 ( 8,413,596 ) 1,674,299 Finance income
Biaya keuangan ( 1,246,372 ) ( 327,028) ( 9,881,127 ) 8,413,596 ( 3,040,931 ) Finance costs
Beban pajak penghasilan ( 2,366,887 ) ( 263,882 )( 366,842 ) 1,239,852 ( 1,757,759 ) Income tax expense
Laba/(rugi) periode
berjalan 1,925,484 14,043,483 ( 8,204,313 ) ( 1,619,536 ) 6,145,118 Profit/(loss) for the period
Depreciation and
Penyusutan dan amortisasi ( 2,929,557 ) ( 12,176,354 )( 206,480 ) ( 5,011,416 ) ( 20,323,807) amortization
31 Maret 2025 31 March 2025
Aset segmen 501,925,288 1,978,054,197 2,956,543,140 ( 2,002,561,747 ) 3,433,960,878 Segment assets
Liabilitas segmen 131,529,933 756,190,036 519,346,268 ( 328,245,157 ) 1,078,821,080 Segment liabilities
Page 139
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/128 Exhibit E/128
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
41. SEGMEN OPERASI (Lanjutan) 41. OPERATING SEGMENT (Continued)
Informasi menurut segmen geografis adalah sebagai The geographical segment information is as
berikut: follows:
31 Maret/ 31 Maret/
March 2026 March 2025
Area penjualan: Sales area:
Domestik 313,730,225 366,110,676 Domestic
Ekspor Export
- Cina 141,403,825 - China -
Jumlah 455,134,050 366,110,676 Total
42. PERISTIWA SETELAH PERIODE PELAPORAN 42. EVENTS AFTER THE REPORTING PERIOD
a. Pada bulan April 2026, Perusahaan melakukan a. In April 2026, the Company made a drawdown
penarikan atas Perjanjian Pinjaman of the US$100,000,000 Loan Agreement from
US$100.000.000 dari MDKA sebesar MDKA amounting to US$50,000,000.
US$50.000.000.
b. Pada bulan April 2026, Perusahaan telah b. In April 2026, the Company has paid the
melunasi pokok Obligasi III Tahun 2025 Seri A principal of Bonds III Year 2025 Series A
sebesar Rp824.950.000.000 setara dengan amounting to Rp824,950,000,000 equivalent to
US$48.335.970 beserta Bunga Obligasi terakhir US$48,335,970 and related to final Bond
yang terkait. Interest.
c. Pada bulan Mei 2026, Perusahaan menerbitkan c. In May 2026, the Company issued and offered
dan menawarkan Obligasi Berkelanjutan I Public Offering of Shelf Bonds I Merdeka
Merdeka Battery Materials Tahap IV Tahun Battery Materials Tranche IV Year 2026 and
2026 dan Sukuk Mudharabah Berkelanjutan I Shelf Sukuk Mudharabah I Merdeka Battery
Merdeka Battery Materials Tahap IV Tahun Materials Tranche IV Year 2026 with details of
2026 dengan rincian sebagai berikut: as follows:
(i) Obligasi (i) Bonds
Obligasi ini ditawarkan dengan jumlah This bond is offered with a principal
pokok sebesar Rp5.000.000.000.000, amount of Rp5,000,000,000,000, issued
diterbitkan tanpa warkat, dan ditawarkan scripless, and offered at 100% in three
dengan nilai 100% dalam tiga seri yaitu: series, namely: (a) Series A with a
(a) Seri A dengan Jumlah Pokok Obligasi Principal Amount of Series A Bonds of
Seri A sebesar Rp2.536.644.000.000 Rp2,536,644,000,000 with a fixed interest
dengan tingkat bunga tetap 7,50% per rate of 7.50% per annum, with a term of
tahun, yang berjangka waktu 367 Hari 367 Calendar Days from the Issuance Date;
Kalender sejak Tanggal Emisi; (b) Seri B (b) Series B with a Principal Amount of
dengan Jumlah Pokok Obligasi Seri B Series B Bonds of Rp1,784,826,000,000
sebesar Rp1.784.826.000.000 dengan with a fixed interest rate of 9.00% per
tingkat bunga tetap 9,00% per tahun, yang annum, with a term of three years from
berjangka waktu tiga tahun sejak the Issuance Date; and (c) Series C with a
Tanggal Emisi; dan (c) Seri C dengan Principal Amount of Series C Bonds of
Jumlah Pokok Obligasi Seri C sebesar Rp678,530,000,000 with a fixed interest
Rp678.530.000.000 dengan tingkat bunga rate of 9.25% per annum, with a term of
tetap sebesar 9,25% per tahun, yang five years from the Issuance Date.
berjangka waktu lima tahun sejak Tanggal
Emisi.
Page 140
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/129 Exhibit E/129
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
42. PERISTIWA SETELAH PERIODE PELAPORAN 42. EVENTS AFTER THE REPORTING PERIOD
(Lanjutan) (Continued)
(ii) Sukuk Mudharabah (ii) Sukuk Mudharabah
Sukuk Mudharabah ini ditawarkan This Sukuk Mudharabah is offered with a
dengan jumlah pokok sebesar principal amount of Rp622,125,000,000,
Rp622.125.000.000, diterbitkan tanpa issued scripless, and offered at 100% in two
warkat, dan ditawarkan dengan nilai 100% series, namely: (a) Series A with a
dalam dua seri yaitu: (a) Seri A dengan Principal Amount of Series A Sukuk
Jumlah Pokok Sukuk Mudharabah Seri A Mudharabah of Rp522,125,000,000 with a
sebesar Rp522.125.000.000 dengan Profit Sharing Ratio is 8.61% of the shared
tingkat Nisbah bagi hasil sebesar 8,61% income with an indication of profit sharing
dari pendapatan yang dibagihasilkan of approximately equivalent to 9.00% per
dengan indikasi bagi hasil sebesar annum, with a term of three years from
ekuivalen 9,00% per tahun, yang the Issuance Date; and (b) Series B with a
berjangka waktu tiga tahun sejak Tanggal Principal Amount of Series B Sukuk
Emisi; dan (b) Seri B dengan Jumlah Pokok Mudharabah of Rp100,000,000,000 with a
Sukuk Mudharabah Seri B sebesar Profit Sharing Ratio is 8.85% of the shared
Rp100.000.000.000 dengan tingkat Nisbah income with an indication of profit sharing
bagi hasil sebesar 8,85% dari pendapatan of approximately equivalent to 9.25% per
yang dibagihasilkan dengan indikasi bagi annum, with a term of five years from the
hasil sebesar ekuivalen 9,25% per tahun, Issuance Date.
yang berjangka waktu lima tahun sejak
Tanggal Emisi.
Bunga Obligasi dan Pendapatan Bagi Hasil Interest of Bonds and Profit Sharing Income of
Sukuk Mudharabah dibayarkan setiap triwulan. Sukuk Mudharabah is paid quarterly.
Pelunasan masing-masing seri Obligasi dan Repayment of each series of Bonds and Sukuk
Sukuk Mudharabah akan dilakukan secara Mudharabah will be made in full (bullet
penuh (bullet payment) pada saat jatuh payment) at maturity. The Bonds and Sukuk
tempo. Tanggal pencatatan Obligasi dan Sukuk Mudharabah listing date on the IDX is 11 May
Mudharabah di BEI adalah tanggal 11 Mei 2026. 2026.
d. Pada bulan Mei 2026, Perusahaan melakukan d. In May 2026, the Company has made
pembayaran lebih awal dan penarikan atas prepayment and a drawdown of the loan
jumlah pokok pinjaman Fasilitas B atas principal of Facility B under US$250,000,000
Perjanjian Fasilitas Kredit Berjangka dan Term and Revolving Credit Facilities
Bergulir US$250.000.000 masing-masing Agreement amounting to US$150,000,000 and
sebesar US$150.000.000 dan US$82.000.000. US$82,000,000, respectively.
e. Pada bulan Mei 2026, Perusahaan melakukan e. In May 2026, the Company made repayments of
pembayaran atas Perjanjian Pinjaman the US$100,000,000 Loan Agreement from
US$100.000.000 dari MDKA sebesar MDKA amounting to US$50,000,000 therefore
US$50.000.000 sehingga tidak terdapat saldo there is no outstanding principal of this facility
pokok pinjaman yang terutang dari fasilitas ini as at the completion date of these interim
pada tanggal laporan keuangan konsolidasian consolidated financial statements.
interim ini diterbitkan.
Page 141
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/130 Exhibit E/130
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
42. PERISTIWA SETELAH PERIODE PELAPORAN 42. EVENTS AFTER THE REPORTING PERIOD
(Lanjutan) (Continued)
f. Pada bulan Mei 2026, Perusahaan mengadakan f. In May 2026, the Company has entered into
kontrak cross currency swap dengan Credit cross currency swap contracts with Credit
Agricole Corporate and Investment Bank Agricole Corporate and Investment Bank
Singapura (“CACIB”), OCBC, Maybank dan Singapore (“CACIB”), OCBC, Maybank and
Danamon, pihak ketiga, atas obligasi Danamon, third parties, for the Company’s
Perusahaan sebagai berikut: bonds as follows:
Jumlah nosional Setara dengan
(dalam juta)/ (dalam Dolar AS)/ Tanggal Tanggal jatuh
Pihak lawan transaksi/ Notional amount Equivalent to perjanjian/ Tanggal efektif/ tempo/ Tingkat bunga/
Counterparty (in million) (in US Dollars) Agreement date Effective date Maturity date Interest rate
CACIB Rp 432,350 25,000,000 15 Mei/ 18 Mei/ 15 Mei/ 4.25%
May 2026 May 2026 May 2027
Rp 432,350 25,000,000 18 Mei/ 21 Mei/ 15 Mei/ 3.40%
May 2026 May 2026 May 2027
Rp 345,880 20,000,000 9 Juni/ 9 Juni/ 15 Mei/ 0.60%
June 2026 June 2026 May 2027
OCBC Rp 190,234 11,000,000 28 Mei/ 2 Juni/ 15 Mei/ 2.65%
May 2026 June 2026 May 2027
Maybank Rp 259,410 15,000,000 4 Juni/ 8 Mei/ 15 Mei/ 0.70%
June 2026 May 2026 May 2027
Rp 518,820 30,000,000 4 Juni/ 8 Mei/ 15 Mei/ 0.60%
June 2026 May 2026 May 2027
Danamon Rp 172,940 10,000,000 5 Juni/ 5 Juni/ 14 Mei/ 0.55%
June 2026 June 2026 May 2027
Rp 2,351,984
g. Pada periode tanggal 17 Maret 2026 sampai g. During the period from 17 March 2026 to
dengan tanggal 16 Juni 2026, Perusahaan 16 June 2026, the Company plan to conduct
berencana untuk melakukan pembelian buyback of its shares based on the Financial
kembali saham Perusahaan berdasarkan Services Authority’s Regulation No. 13 of 2023
Peraturan Otoritas Jasa Keuangan on the Policies in Maintaining Capital Market
No. 13 Tahun 2023 tentang Kebijakan dalam Performance and Stability in Significantly
Menjaga Kinerja dan Stabilitas Pasar Modal Fluctuating Market Conditions dated 20 July
pada Kondisi Pasar yang Berfluktuasi secara 2023 juncto Financial Services Authority’s
Signifikan tanggal 20 Juli 2023 juncto Regulation No. 29 of 2023 on the Buyback of
Peraturan Otoritas Jasa Keuangan No. 29 Shares Issued by Public Companies dated 29
Tahun 2023 tentang Pembelian Kembali Saham December 2023 juncto Financial Services
yang Dikeluarkan oleh Perusahaan Terbuka Authority’s Letter No. S-102/D.04/2025 on
tanggal 29 Desember 2023 juncto Surat Implementation Policy of Buyback of Shares
Otoritas Jasa Keuangan No. S-102/D.04/2025 Issued by Public Companies in Significantly
tentang Kebijakan Pelaksanaan Pembelian Fluctuating Market Conditions dated
Kembali Saham yang Dikeluarkan oleh 17 September 2025 for a maximum of
Perusahaan Terbuka dalam Kondisi Pasar yang 1,800,000,000 shares with a maximum fund
Berfluktuasi secara Signifikan tanggal allocation of Rp1,700,000,000,000 as
17 September 2025 dengan jumlah announced by the Company on 16 March 2026.
maksimum sebanyak 1.800.000.000 lembar
saham dengan alokasi dana maksimum
sebesar Rp1.700.000.000.000 sebagaimana
diumumkan oleh Perusahaan pada tanggal
16 Maret 2026.
Perusahaan melakukan pembelian kembali The Company conducted the buyback of the
saham Perusahaan melalui BEI sebanyak Company’s shares through IDX in the amount of
492.683.100 saham dengan total nilai 492,683,100 shares with the total value of
sebesar Rp237 miliar atau setara dengan Rp237 billion or equivalent to US$13,376,213.
US$13.376.213.
Page 142
These interim consolidated financial statements are
originally issued in Indonesian language
Ekshibit E/131 Exhibit E/131
PT MERDEKA BATTERY MATERIALS Tbk PT MERDEKA BATTERY MATERIALS Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
31 MARET 2026 DAN 31 DESEMBER 2025 31 MARCH 2026 AND 31 DECEMBER 2025
(Disajikan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollars, unless otherwise stated)
42. PERISTIWA SETELAH PERIODE PELAPORAN 42. EVENTS AFTER THE REPORTING PERIOD
(Lanjutan) (Continued)
h. Berdasarkan Surat Keterangan tertanggal h. Based on the Statement Letter dated
23 Juni 2026 yang dikeluarkan oleh Jose Dima 23 June 2026 issued by Jose Dima Satria, S.H.,
Satria, S.H., M.Kn., Notaris di Kota M.Kn., Notary in the Administrative City of
Administrasi Jakarta Selatan (Akta Berita South Jakarta, (the Deed of Minutes of the
Acara atas Rapat Umum Pemegang Saham Company’s 2026 Annual General Meeting of
Tahunan 2026 Perusahaan yang sedang dalam Shareholders, which is currently being
proses penyelesaian di kantor notaris), finalized at the notary’s office), the
susunan anggota Dewan Komisaris dan Direksi composition of the members of the Board of
Perusahaan adalah sebagai berikut: Commissioners and Board of Directors of the
Company are as follows:
Dewan Komisaris Board of Commissioners
Presiden Komisaris : Winato Kartono : President Commissioner
Komisaris : Michael W.P. Soeryadjaya : Commissioner
Komisaris Independen : Prof. Dr. Didi Achjari, M.Com., Ak. : Independent Commissioner
Direksi Board of Directors
Presiden Direktur : Teddy Nuryanto Oetomo : President Director
Direktur : Titien Supeno : Director
Direktur : James Nicholas : Director
Direktur : Ashutosh Srivastava : Director
i. Pada periode tanggal 17 Juni 2026 sampai i. During the period from 17 June 2026 to
dengan tanggal 16 September 2026, 16 September 2026, the Company plan to
Perusahaan berencana untuk melakukan conduct buyback of its shares based on the
pembelian kembali saham Perusahaan Financial Services Authority’s Regulation No.
berdasarkan Peraturan Otoritas Jasa Keuangan 13 of 2023 on the Policies in Maintaining
No. 13 Tahun 2023 tentang Kebijakan dalam Capital Market Performance and Stability in
Menjaga Kinerja dan Stabilitas Pasar Modal Significantly Fluctuating Market Conditions
pada Kondisi Pasar yang Berfluktuasi secara dated 20 July 2023 juncto Financial Services
Signifikan tanggal 20 Juli 2023 juncto Authority’s Regulation No. 29 of 2023 on the
Peraturan Otoritas Jasa Keuangan No. 29 Buyback of Shares Issued by Public Companies
Tahun 2023 tentang Pembelian Kembali Saham dated 29 December 2023 juncto Financial
yang Dikeluarkan oleh Perusahaan Terbuka Services Authority’s Letter No. S-10/D.04/2026
tanggal 29 Desember 2023 juncto Surat on Implementation Policy of Buyback of Shares
Otoritas Jasa Keuangan No. S-10/D.04/2026 Issued by Public Companies in Significantly
tentang Kebijakan Pelaksanaan Pembelian Fluctuating Market Conditions dated
Kembali Saham yang Dikeluarkan oleh 13 March 2026 for a maximum of 1,548,000,000
Perusahaan Terbuka dalam Kondisi Pasar yang shares with a maximum fund allocation of
Berfluktuasi secara Signifikan tanggal Rp1,462,000,000,000 as announced by the
13 Maret 2026 dengan jumlah Company on 16 June 2026.
maksimum sebanyak 1.548.000.000 lembar
saham dengan alokasi dana maksimum
sebesar Rp1.462.000.000.000 sebagaimana
diumumkan oleh Perusahaan pada tanggal
16 Juni 2026.
j. Pada bulan Juni 2026, Perusahaan j. In June 2026, the Company has made a
melakukan penarikan atas jumlah pokok drawdown of the loan principal of Facility B
pinjaman Fasilitas B atas Perjanjian under US$250,000,000 Term and Revolving
Fasilitas Kredit Berjangka dan Bergulir Credit Facilities Agreement amounting to
US$250.000.000 sebesar US$50.400.000. US$50,400,000.
43. PENYELESAIAN LAPORAN KEUANGAN 43. COMPLETION OF THE INTERIM CONSOLIDATED
KONSOLIDASIAN INTERIM FINANCIAL STATEMENTS
Manajemen Grup bertanggung jawab atas The Group’s management is responsible for the
penyusunan laporan keuangan konsolidasian preparation for these interim consolidated
interim dan telah menyetujui laporan keuangan financial statements and has approved that the
konsolidasian interim Grup untuk diterbitkan pada Group’s interim consolidated financial statements
26 Juni 2026. to be issued on 26 June 2026.
Page 143
Tel : +62-21 5795 7300 Tanubrata Sutanto Fahmi Bambang & Rekan
Fax : +62-21 5795 7301 Certified Public Accountant
www.bdo.co.id Licence No. 622/KM.1/2016
Head Office
Prudential Tower, 17th Floor
Jl. Jend. Sudirman Kav. 79
Jakarta 12910 - Indonesia
This report is originally issued in Indonesian language
No. : 00523/2.1068/AU.1/05/0119-5/1/VI/2026 No. : 00523/2.1068/AU.1/05/0119-5/1/VI/2026
Laporan Auditor Independen Independent Auditor’s Report
Pemegang Saham, Komisaris dan Direksi Shareholders, Commissioners and Directors
PT Merdeka Battery Materials Tbk PT Merdeka Battery Materials Tbk
Jakarta Jakarta
Opini Opinion
Kami telah mengaudit laporan keuangan konsolidasian We have audited the accompanying interim
interim PT Merdeka Battery Materials Tbk consolidated financial statements of PT Merdeka
(“Perusahaan”) dan Entitas Anak (“Grup”), yang terdiri Battery Materials Tbk (The “Company”) and Its
dari laporan posisi keuangan konsolidasian interim Subsidiaries (“Group”), which comprise the interim
tanggal 31 Maret 2026, serta laporan laba rugi dan consolidated statement of financial position as of
penghasilan komprehensif lain, laporan perubahan 31 March 2026, and the interim consolidated
ekuitas, dan laporan arus kas konsolidasian interim untuk statements of profit or loss and other comprehensive
periode tiga bulan yang berakhir pada tanggal tersebut, income, changes in equity, and cash flows for the
serta catatan atas laporan keuangan konsolidasian three-months period then ended, and notes to the
interim, termasuk informasi kebijakan akuntansi interim consolidated financial statements, including a
material. material accounting policies information.
Menurut opini kami, laporan keuangan konsolidasian In our opinion, the accompanying interim consolidated
interim terlampir menyajikan secara wajar, dalam semua financial statements present fairly, in all material
hal yang material, posisi keuangan konsolidasian interim respects, the interim consolidated financial position of
Grup tanggal 31 Maret 2026, serta kinerja keuangan the Group as of 31 March 2026, and its interim
konsolidasian interim dan arus kas konsolidasiannya consolidated financial performance and its
untuk periode tiga bulan yang berakhir pada tanggal consolidated cash flows for the three-months period
tersebut, sesuai dengan Standar Akuntansi Keuangan di then ended, in accordance with Indonesian Financial
Indonesia. 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 Institut 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 paragraf Tanggung under those standards are further described in the
Jawab Auditor terhadap Audit atas Laporan Keuangan Auditor’s Responsibilities for the Audit of the Interim
Konsolidasian Interim pada laporan kami. Kami Consolidated Financial Statements paragraph of our
independen terhadap Grup berdasarkan ketentuan etika report. We are independent of the Group in accordance
yang relevan dalam audit kami atas laporan keuangan with the ethical requirements that are relevant to our
konsolidasian interim di Indonesia, dan kami telah audit of the interim consolidated financial statements
memenuhi tanggung jawab etika lainnya berdasarkan in Indonesia, and we have fulfilled our other ethical
ketentuan tersebut. Kami yakin bahwa bukti audit yang responsibilities in accordance with these requirements.
telah kami peroleh adalah cukup dan tepat untuk We believe that the audit evidence we have obtained
menyediakan suatu basis bagi opini audit kami. is sufficient and appropriate to provide a basis for our
opinion.
TANUBRATA SUTANTO FAHMI BAMBANG & REKAN
Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK
company limited by guarantee, and forms part of the international BDO network of independent member firms.
Page 144
Halaman 2 Page 2
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 our
paling signifikan dalam audit kami atas laporan keuangan audit of the interim consolidated financial statements
konsolidasian interim periode kini. Hal-hal tersebut of the current period. These matters were addressed
disampaikan dalam konteks audit kami atas laporan in the context of our audit of the interim consolidated
keuangan konsolidasian interim secara keseluruhan, dan financial statements as a whole, and in forming our
dalam merumuskan opini kami atas laporan keuangan opinion thereon, and we do not provide a separate
konsolidasian interim terkait, kami tidak menyatakan opinion on these matters.
suatu opini terpisah atas hal audit utama tersebut.
Pengakuan Pendapatan Revenue Recognition
Lihat Catatan 2.v – Informasi Kebijakan Akuntansi Refer to Note 2.v – Material Accounting Policy
Material – Pengakuan pendapatan dan beban dan Catatan Information – Revenue and expense recognition and
25 – Pendapatan Usaha, atas laporan keuangan Note 25 – Revenue, to the interim consolidated
konsolidasian interim. financial statements.
Saat pengakuan pendapatan dari penjualan produk The timing of revenue recognition from sales of goods
bergantung pada persyaratan dalam kontrak dengan depends on the terms of contract with customers,
pelanggan, yang umumnya diakui pada suatu titik waktu which generally recognized at a point in time with the
tertentu dengan mempertimbangkan saat pelanggan consideration that the customers has controls over the
memiliki kontrol atas barang tersebut dalam kepemilikan goods in legal title and physical.
secara hukum maupun fisik.
Kami mengidentifikasi pengakuan pendapatan sebagai We identified revenue recognition as a key audit
hal audit utama karena pendapatan adalah salah satu matter because revenue is one of key performance
indikator kinerja utama Grup dan oleh karena itu indicators of the Group and therefore there is a risk
terdapat risiko bahwa pendapatan dapat dicatat pada that revenue could be recorded in an incorrect period
periode yang tidak tepat atau dapat dimanipulasi untuk or could be subject to manipulation in order to achieve
mencapai target serta ekspektasi keuangan. financial targets and expectations.
Bagaimana audit kami merespon Hal Audit Utama How our audit addressed the Key Audit Matter
Kami melakukan prosedur audit atas hal ini termasuk: We performed audit procedures over this matter
including:
• Kami menilai desain, implementasi, dan efektivitas • We assessed the design, implementation and
operasional dari system pengendalian internal Grup operating effectiveness of the internal controls
yang mengatur pengakuan pendapatan. over the Group’s systems which govern the
revenue recognition.
• Kami memeriksa kontrak penjualan dengan • We inspected sales contracts with customers on a
pelanggan secara sampel untuk memahami dan sample basis to understand and assess the terms
menilai syarat serta ketentuan yang terdapat di and conditions therein which may affect the
dalamnya yang dapat mempengaruhi pengakuan recognition of revenue.
pendapatan.
• Kami membandingkan transaksi pendapatan yang • We compared revenue transactions recorded
dicatat selama periode, berdasarkan sampel, during the current period, on a sample basis, with
dengan faktur, kontrak penjualan, dan nota invoices, sales contracts and goods delivery notes
pengiriman barang untuk menilai apakah to assess whether the related revenue was
pendapatan terkait diakui sesuai dengan kebijakan recognized in accordance with the Group’s revenue
akuntansi pengakuan pendapatan Grup. recognition accounting policies.
• Kami membandingkan secara sampel, transaksi • We compared on a sample basis, revenue
pendapatan yang dicatat tepat sebelum dan setelah transactions recorded just before and after the
akhir periode dengan dokumen pengiriman yang period end with the underlying delivery notes and
mendasari dan dokumen relevan lainnya untuk other relevant documents to assess whether the
menilai apakah pendapatan telah diakui pada revenue had beed recognized in the appropriate
periode akuntansi yang tepat. accounting period.
TANUBRATA SUTANTO FAHMI BAMBANG & REKAN
Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK
company limited by guarantee, and forms part of the international BDO network of independent member firms.
Page 145
Halaman 3 Page 3 Tanggung Jawab Manajemen dan Pihak yang Responsibilities of Management and Those Charged Bertanggung Jawab atas Tata Kelola terhadap Laporan with Governance for the Interim Consolidated Keuangan Konsolidasian Interim Financial Statements Manajemen bertanggung jawab atas penyusunan dan Management is responsible for the preparation and fair penyajian wajar laporan keuangan konsolidasian interim presentation of such interim consolidated financial ini sesuai dengan Standar Akuntansi Keuangan di statements in accordance with Indonesian Financial Indonesia, dan atas pengendalian internal yang dianggap Accounting Standards, and for such internal control as perlu oleh manajemen untuk memungkinkan penyusunan management determines is necessary to enable the laporan keuangan konsolidasian interim yang bebas dari preparation of interim consolidated financial kesalahan penyajian material, baik yang disebabkan oleh statements that are free from material misstatement, kecurangan maupun kesalahan. whether due to fraud or error. Dalam penyusunan laporan keuangan konsolidasian In preparing the interim consolidated financial interim, manajemen bertanggung jawab untuk menilai statements, management is responsible for assessing kemampuan Grup dalam mempertahankan kelangsungan the Group’s ability to continue as a going concern, usahanya, mengungkapkan, sesuai dengan kondisinya, disclosing, as applicable, matters related to going hal-hal yang berkaitan dengan kelangsungan usaha, dan concern and using the going concern basis of accounting menggunakan basis akuntansi kelangsungan usaha, unless management either intends to liquidate the kecuali manajemen memiliki intensi untuk melikuidasi Group or to cease operations, or has no realistic Grup atau menghentikan operasi, atau tidak memiliki alternative but to do so. 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 Laporan Auditor’s Responsibilities for the Audit of the Keuangan Konsolidasian Interim Interim Consolidated Financial Statements Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable assurance memadai tentang apakah laporan keuangan about whether the interim consolidated financial konsolidasian interim secara keseluruhan bebas dari statements as a whole are free from material kesalahan penyajian material, baik yang disebabkan oleh misstatement, whether due to fraud or error, and to kecurangan maupun kesalahan, dan untuk menerbitkan issue an auditor’s report that includes our opinion. laporan auditor yang mencakup opini kami. Keyakinan Reasonable assurance is a high level of assurance, but memadai merupakan suatu tingkat keyakinan tinggi, is not a guarantee that an audit conducted in namun bukan merupakan suatu jaminan bahwa audit accordance with Standard on Auditing will always yang dilaksanakan berdasarkan Standar Audit akan selalu detect a material misstatement when it exists. mendeteksi kesalahan penyajian material ketika hal Misstatements can arise from fraud or error and are tersebut ada. Kesalahan penyajian dapat disebabkan considered material if, individually or in the oleh kecurangan maupun kesalahan dan dianggap aggregate, they could reasonably be expected to material jika, baik secara individual maupun secara influence the economic decisions of users taken on the agregat, dapat diekspektasikan secara wajar akan basis of these interim consolidated financial memengaruhi keputusan ekonomi yang diambil oleh statements. pengguna berdasarkan laporan keuangan konsolidasian interim tersebut. TANUBRATA SUTANTO FAHMI BAMBANG & REKAN Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.
Page 146
Halaman 4 Page 4
Tanggung jawab auditor terhadap Audit atas Laporan Auditor’s Responsibilities for the Audit of the
Keuangan Konsolidasian Interim (Lanjutan) Interim Consolidated Financial Statements
(Continued)
Sebagai bagian dari suatu audit berdasarkan Standar As part of an audit in accordance with Standard 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 interim consolidated financial
konsolidasian interim, baik yang disebabkan oleh statements, whether due to fraud or error, design
kecurangan maupun kesalahan, mendesain dan and perform audit procedures responsive to those
melaksanakan prosedur audit yang responsif risks, and obtain audit evidence that is sufficient
terhadap risiko tersebut, serta memeroleh bukti and appropriate to provide a basis for our opinion.
audit yang cukup dan tepat untuk menyediakan basis The risk of not detecting a material misstatement
bagi opini kami. Risiko tidak terdeteksinya kesalahan resulting from fraud is higher than for one
penyajian material yang disebabkan oleh kecurangan resulting from error, as fraud may involve
lebih tinggi dari yang disebabkan oleh kesalahan, collusion, forgery, intentional omissions,
karena kecurangan dapat melibatkan kolusi, misrepresentations, or the override of internal
pemalsuan, penghilangan secara sengaja, control.
pernyataan salah, atau pengabaian pengendalian
internal.
• Memeroleh suatu pemahaman tentang pengendalian • Obtain an understanding of internal control
internal yang relevan dengan audit untuk mendesain relevant to the audit in order to design audit
prosedur audit yang tepat sesuai dengan kondisinya, procedures that are appropriate in the
tetapi bukan untuk tujuan menyatakan opini atas circumstances, but not for the purpose of
keefektivitasan pengendalian internal Grup. expressing an opinion on the effectiveness of 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 accounting
pengungkapan terkait yang dibuat oleh manajemen. estimates and related disclosures made by
management.
• Menyimpulkan ketepatan penggunaan basis • Conclude on the appropriateness of management's
akuntansi kelangsungan usaha oleh manajemen dan, use of the going concern basis of accounting and,
berdasarkan bukti audit yang diperoleh, apakah based on the audit evidence obtained, whether a
terdapat suatu ketidakpastian material yang terkait material uncertainty exists related to events or
dengan peristiwa atau kondisi yang dapat conditions that may cast significant doubt on the
menyebabkan keraguan signifikan atas kemampuan Group's ability to continue as a going concern. If we
Grup untuk mempertahankan kelangsungan conclude that a material uncertainty exists, we are
usahanya. Ketika kami menyimpulkan bahwa required to draw attention in our auditor's report
terdapat suatu ketidakpastian material, kami to the related disclosures in the interim
diharuskan untuk menarik perhatian dalam laporan consolidated financial statements or, if such
auditor kami ke pengungkapan terkait dalam laporan disclosures are inadequate, to modify our opinion.
keuangan konsolidasian interim atau, jika Our conclusions are based on the audit evidence
pengungkapan tersebut tidak memadai, harus obtained up to the date of our auditor's report.
menentukan apakah perlu untuk memodifikasi opini However, future events or conditions may cause
kami. Kesimpulan kami didasarkan pada bukti audit the Group to cease to continue as a going concern.
yang diperoleh hingga tanggal laporan auditor kami.
Namun, peristiwa atau kondisi masa depan dapat
menyebabkan Grup tidak dapat mempertahankan
kelangsungan usaha.
TANUBRATA SUTANTO FAHMI BAMBANG & REKAN
Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK
company limited by guarantee, and forms part of the international BDO network of independent member firms.
Page 147
Halaman 5 Page 5
Tanggung jawab auditor terhadap Audit atas Laporan Auditor’s Responsibilities for the Audit of the
Keuangan Konsolidasian Interim (Lanjutan) Interim Consolidated Financial Statements
(Continued)
Sebagai bagian dari suatu audit berdasarkan Standar As part of an audit in accordance with Standard 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: (Lanjutan) We also: (Continued)
• Mengevaluasi penyajian, struktur, dan isi laporan • Evaluate the overall presentation, structure and
keuangan konsolidasian interim secara keseluruhan, content of the interim consolidated financial
termasuk pengungkapannya, dan apakah laporan statements, including the disclosures, and whether
keuangan konsolidasian interim mencerminkan the interim consolidated financial statements
transaksi dan peristiwa yang mendasarinya dengan represent the underlying transactions and events in
suatu cara yang mencapai penyajian wajar. a manner that achieves fair presentation.
• 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 interim. Kami bertanggung an opinion on the interim consolidated financial
jawab 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 bertanggung We communicate with those charged with governance
jawab atas tata kelola mengenai, antara lain, ruang regarding, among other matters, the planned scope
lingkup dan saat yang direncanakan atas audit, serta and timing of the audit and significant audit findings,
temuan audit signifikan, termasuk setiap defisiensi including any significant deficiencies in internal
signifikan dalam pengendalian internal yang control that we identify during our audit.
teridentifikasi oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada pihak We also provide those charged with governance with a
yang bertanggung jawab atas tata kelola bahwa kami statement that we have complied with relevant ethical
telah mematuhi ketentuan etika yang relevan mengenai requirements regarding independence, and to
independensi, dan mengomunikasikan seluruh hubungan, communicate with them all relationships and other
serta hal-hal lain yang dianggap secara wajar matters that may reasonably be thought to bear on our
berpengaruh terhadap independensi kami, dan, jika independence, and where applicable, related
relevan, pengamanan terkait. safeguards.
TANUBRATA SUTANTO FAHMI BAMBANG & REKAN
Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK
company limited by guarantee, and forms part of the international BDO network of independent member firms.
Page 148
Halaman 6 Page 6
Tanggung jawab auditor terhadap Audit atas Laporan Auditor’s Responsibilities for the Audit of the
Keuangan Konsolidasian Interim (Lanjutan) Interim Consolidated Financial Statements
(Continued)
Dari hal-hal yang dikomunikasikan kepada pihak yang From the matters communicated with those charged
bertanggung jawab atas tata kelola, kami menentukan with governance, we determine those matters that
hal-hal tersebut yang paling signifikan dalam audit atas were of most significance in the audit of the interim
laporan keuangan konsolidasian interim periode kini dan consolidated financial of the current period and are
oleh karenanya manjadi hal audit utama. Kami therefore the key audit matters. We describe these
menguraikan hal audit utama dalam laporan auditor matters in our auditor’s report unless law or regulation
kami, kecuali peraturan perundang-undangan melarang precludes public disclosure about the matter or when,
pengungkapan publik tentang hal tersebut atau ketika, in extremely rare circumstances, we determine that a
dalam kondisi yang sangat jarang terjadi, kami matter should not be communicated in our report
menentukan bahwa suatu hal tidak boleh because the adverse consequences of doing so would
dikomunikasikan dalam laporan kami karena konsekuensi reasonably be expected to outweigh the public interest
merugikan dari mengomunikasikan hal tersebut akan benefits of such communication.
diekspektasikan secara wajar melebihi manfaat
kepentingan publik atas komunikasi tersebut.
Kantor Akuntan Publik
TANUBRATA SUTANTO FAHMI BAMBANG & Rekan
Santanu Chandra, CPA
NIAP AP. 0119/
License No. AP. 0119
26 Juni 2026/ 26 June 2026
TANUBRATA SUTANTO FAHMI BAMBANG & REKAN
Tanubrata Sutanto Fahmi Bambang & Rekan (Certified Public Accountant), an Indonesian partnership, is a member of BDO International Limited, a UK
company limited by guarantee, and forms part of the international BDO network of independent member firms.
Names mentioned 67 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Darmawan Darmawan Tjoa
· Notaris
p.12
unresolved
person
Tjoa
p.12
unresolved
org
PT Hamparan Logistik
p.12
unresolved
org
PT Hamparan Logistik Nusantara. This Nusantara. Akta
p.12
unresolved
org
Minister of Law
p.12 ×2
unresolved
person
Jose Dima Satria
· Notaris
p.12 ×2
unresolved
org
Indonesia Stock Exchange
p.13
unresolved
org
Rakyat Indonesia (Persero) Tbk
p.13 ×5
unresolved
org
PT Merdeka Industri Mineral
p.19
unresolved
org
PT Merdeka Energi Industri
p.19
unresolved
org
PT Batutua Pelita Investama
p.19
unresolved
org
PT Merdeka Mega Industri
p.19
unresolved
org
PT Merdeka Energi Utama
p.19
unresolved
org
PT Huaneng Metal Industry
p.19
unresolved
org
PT Bukit Smelter Indonesia
p.20
unresolved
org
PT Cahaya Smelter Indonesia
p.20
unresolved
org
PT Sulawesi Cahaya Mineral
p.20
unresolved
org
PT Zhao Hui Nickel
p.20
unresolved
org
PT Sulawesi Makmur Indonesia
p.20
unresolved
org
PT Lestari Nusa Jaya Semesta
p.20
unresolved
org
PT Indogreen Cahaya Surya
p.20
unresolved
org
PT Kapur Maxima Gemilang
p.20
unresolved
org
PT Konawe Cahaya Indonesia
p.21
unresolved
org
PT Sulawesi Batu Kapur
p.21
unresolved
org
PT Cahaya Kapur Alfa
p.21
unresolved
org
PT Cahaya Sulawesi Kekal
p.21
unresolved
org
PT Sulawesi Anugerah Kekal
p.21
unresolved
org
PT Lestari Jaya Kekal
p.21
unresolved
org
PT Indonesia Cahaya Kekal Sulawesi
p.21
unresolved
org
PT Anugerah Batu Putih
p.21
unresolved
org
PT Sulawesi Industri Parama
p.22
unresolved
org
PT Cahaya Hutan Lestari
p.22
unresolved
org
PT Ciptawana Lestari Mandiri
p.22
unresolved
org
PT Merdeka Tsingshan Indonesia
p.22
unresolved
org
Koordinasi Penanaman Modal
p.23 ×3
unresolved
org
Menteri Investasi
p.24 ×3
unresolved
org
Koordinasi
p.24
unresolved
org
Menteri Perindustrian
p.24 ×3
unresolved
org
Minister of Investment
p.24 ×3
unresolved
org
Minister of Industry
p.24 ×3
unresolved
org
Koordinasi Central Sulawesi Province Bahodopi Disctrict
p.24
unresolved
org
Menteri Investasi dan Hilirisasi
p.24
unresolved
org
Minister of Investment and Downstream
p.24
unresolved
org
Financial Services Authority
p.142
unresolved
org
Tanubrata Sutanto Fahmi Bambang & Rekan
p.143 ×3
unresolved
org
PT Merdeka
p.143
unresolved
org
Battery Materials Tbk
p.143
unresolved
org
BDO International Limited
p.143
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