20260626_MAPA_Public Expose_32105132_lamp2.pdf

Zeta - IDN Financials


   1. How does the weakening rupiah affect this year's retail sales prospects across
      MAP Group? Which business segment or aspect of the business will be most
      affected by the weakening rupiah?
      - As you know, we import many brands and pay in USD, Pound sterling, and Euros,
          so the depreciation of the rupiah definitely affects our cost of goods sold.

      -   When we get a kind of new shipment, we have to apply the new exchange rate. To
          safeguard our bottom line, we are also hedging almost 30% of our Forex exposure,
          which we cover ourselves by hedging. So, it is definitely increasing the retail sales
          price for selected products, but we have no choice but to pass on the higher costs
          to the customers.

   2. We can see that sales are returning and improving, but do the weak rupiah and
      purchasing power drive your prudent expansion plan, or do they hinder your
      expansion plan for this year? Regarding the expansion plan, does this prudent
      expansion strategy also apply to domestic operations and other ASEAN
      countries?
      - The prudent expansion, as I explained, before opening any store, whether for our
         existing brands or new brands, we have a kind of rigorous format in the process
         before we allow any capex to be invested for opening any new store or any new
         brand. Our growth in 1Q26 is a combination of new stores and like-for-like growth.
         In 1Q26, our like-for-like growth was extraordinary, at 13%. This growth is a
         combination that includes Digimap, because as we launched the new iPhones, the
         sales were extraordinarily high. But again, when we talk about Active and Fashion,
         the growth was only in the high single digits

      -   So, we are paying a lot of attention to our like-for-like growth before opening a kind
          of new store. That's why you have seen the 32% growth in terms of the top line.


Rama – Bisnis Indonesia


   1. Whether there is any more M&A in the near future, and when exactly it will be?
      - Whatever M&A we do, we will announce it as a public company. There may be a
        lot of discussions and exploratory discussions, but unless we are able to firm them
        up, it is not appropriate to make any kind of announcement because there are a lot
        of rumors and a lot of guesswork in the market.

      -   As a growing company, we are always talking to new brands and exploring new
          partnerships. As and when these are confirmed, we will definitely make an
          announcement.


Sunny – Kontan

   1. What is your 2026 CapEx target, and how much has been realized so far? Will
      expansion in the second half be as aggressive as in the first half?
      - For Capex, our plan for this year is about Rp2 trillion, but we are always monitoring
         the global situation so that we can increase or decrease it. We can adjust it
         according to the situation.