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Page 1
PT JASA ARMADA INDONESIA TBK
IPCM
COLLABORATION TO ACHIEVE BEYOND
IPCM | Public Expose | June ‘26
Page 2
Pelindo Group Holding Structure
PT Jasa Armada Indonesia Tbk (IDX: IPCM) is a subsidiary of PT Pelindo Jasa Maritim, a sub holding of PT Pelabuhan Indonesia
(Persero), engaged in ship piloting and towing, sea transportation, and other maritime services
PT PELABUHAN INDONESIA (PERSERO)
SUB
HOLDING
OTHER BUSINESS
PORTFOLIO
PT PELINDO TERMINAL PT PELINDO MULTI PT PELINDO SINERGI
PETI KEMAS TERMINAL LOKASEVA
PT PELINDO JASA MARITIM
PT ENERGI PELABUHAN INDONESIA (EPI)
PT PELINDO SOLUSI MARITIM
PT PENGERUKAN INDONESIA (RUKINDO)
PT PELINDO JASA MARITIM
(76,89%)
PT MULTI TERMINAL
INDONESIA (0,11%)
PT JASA ARMADA INDONESIA TBK
PUBLIC (23%)
PT BERKAH INDUSTRI MESIN ANGKAT (BIMA)
PT PELINDO MARINE SERVICE
PT LAMONG ENERGI INDONESIA
PT INTAN SEJAHTERA UTAMA
IPCM | Public Expose | June ‘26
Page 3
Our Management
Board of Commisioners
R.R. Dewi Ariyani F. Budi Prayitno Mitchell Julius Doni Istyanto Hari Mahdi
President Commissioner Commissioner Tupahamu Independent Commissioner
Independent Commissioner
Has Served As: Has Served As: Has Served As:
Commisioner PT Jasa Independent Has Served As: Financial Director of PT
Armada Indonesia Commisioner of PT JAI Parliament Expert Tirta Kahyangan
Performance Analyst at Tbk Public Relation and Nirankara
the Ministry of State – Head of Legal Bureau at Personal Manager at PT Senior Partner of PT
Owned Enterprises The Ministry of Nyoya Meneer Hutama Mandiri Karya
Commercial Director at Transportation Legal Plant Property Senior Partner of AND
PT Reasuransi Indonesia Dewan Pengawas BLU Acquisition at PT Conssult Surabaya
Utama (Persero) Politeknik Ilmu Pelayaran- Excelomindo Pratama
Makassar
Indonesian citizen, born in Surabaya In 1972. Holds a
Indonesian citizen, born in Jakarta in 1962. Obtained
Earned a Masters in Accounting from the University Indonesian citizen, born in Jakarta In 1968. He holds bachelor’s degree in Industrial Engineering and
a bachelor’s degree in Law from Pancasila
of Indonesia and a Bachelor’s degree in Accounting a Master Degree specializing in Air Transport Management from Adhi Tama Institute of
University in 1993.
from Jenderal Sudirman University, Purwokerto Management, Ecole National de I’Aviation Civile Technology Surabaya (ITATS), Investment Manager
(ENAC), Toulouse-France and a Bachelor Degree in Representative License (WMI) from BAPEPAM RI.
International Law from Diponegoro University in
Semarang, in 1991
Board of Directors
More than 20 years of experience in More than 20 years of experience in More than 20 years of experience in
the port business at the Pelindo the port business at the Pelindo the port business at the Pelindo
Business Group Business Group Business Group
Has Served As: Has Served As: Has Served As:
Commercial and Business Group Head of Ship Services PT Group Head of Human Capital
Development Director of PT Jasa Pelabuhan Indonesia (Persero) Management at PT Pelabuhan
Armada Indonesia Tbk SVP Business Planning and Indonesia (Persero)
EVP Corporate Secretary of PT Development PT Pelabuhan Director of Finance & Human
Pelabuhan Indonesia II (Persero) Indonesia I (Persero) Resources at PT Indonesia
Commercial Director of PT SVP Marketing Pelabuhan Indonesia Kendaraan Terminal Tbk
Pengembangan Pelabuhan I (Persero) President Director PT Energi
Shanti Puruhita Indonesia Arief Hermawan Dessy Emastari Pelabuhan Indonesia
President Director Master degree in Logistics from Director of Fleet Obtained his bachelor’s degree from Prihatiningtyas Master of Commerce Degree from
concurrently as Kuhne Logistics University in Management and the Academy of Seafaring Sciences the University of Queensland,
Director of Finance,
Director of Germany, and a Bachelor of Law Operation in 1994 Australia and a Bachelor of
HR, and Risk
Commercial and from Airlangga University, Surabaya. Economics in Accounting from
Management
Business Master of Notary from Jayabaya Airlangga University in Surabaya
Development University (2025)
IPCM | Public Expose | June ‘26
Page 4
IPCM's Milestones and Strategic Vision
To become a leading, trusted, and integrated marine service provider
Vision within Indonesia’s and the global maritime ecosystem.
To provide safe, reliable, competitive, and sustainable marine services
in order to maximize added value for all stakeholders - shareholders,
Mision customers, partners, employees, society, the Unitary State of The
Republic of Indonesia, and the community.
IPCM | Public Expose | June ‘26
Page 5
Special Delegation from State Authority
Ministry of Transportation
Pilotage Regulations Port & STS Operator Pilotage Delegations (BUP of
License (BUP) JAI)
Public Ports: Public Ports:
Only granted to SOEs (Pelindo), Only granted to SOEs (Pelindo).
operated in Pelindo’s territories JAI is the sole operator in Pelindo
jurisdictions.
All vessels 500 GT and above
Private Terminals (TUKS): Private Terminals (TUKS):
entering and departing BUP
Granted to some companies that Granted to to very few terminal
are subject to pilotage and
have sea/river terminals, for owners.
towage.
private use only
STS Operators (Tersus): Oil & STS (Tersus): JAI is one of the
Gas Offshore Ship-to- Ship company has a pilotage
Operators delegation in STS Territories
IPCM | Public Expose | June ‘26
Page 6
Our Services
PT Jasa Armada Indonesia Tbk (IDX: IPCM) provides pilotage and towage services to support activities at Public
Ports, TUKS, Tersus, Offshore Oil & Gas, River Transport and Ship to Ship (STS).
TOTAL FLEETS
Data Q1'26
103 Fleets
Tug Services Pilotage Services Other Marine
Services
which operated in
31 Pilot Boats 68 Tugboats 4 Mooring Boats
TOTAL PILOTS AND CREW MEMBERS
Public Ports Special Terminal
(TUKS)
STS Private Terminal
(Tersus)
579
Members
Data Q1'26
IPCM | Public Expose | June ‘26
Page 7
IPCM Operational Area
24
Pelabuhan Tanjung Pandan
Pelabuhan Pangkal Balam
Pelabuhan Tarakan TOTAL
11 BUP PT Pelindo (Persero)
Pelabuhan Pontianak 7 BUP PT JAI Tbk
Meulaboh
& Terminal Kijing
AREA
6 KSO
Prov. Aceh
Pelabuhan
Jambi Pelabuhan Weda
Pelabuhan
Tersus PT Trimegah
Teluk Bayur
Bangun Persada, Laiwui
Pelabuhan Boombaru
Palembang
PT MBP (Adaro
Group)
STS Ambang Luar
Sungai Musi - Pelembang
Pelabuhan Tanjung Priok
Pelabuhan Pulau
Baai Bengkulu
Pelabuhan Panjang
Coal CPO
PT PGN LNG Indonesia
Nickel Rubber
TUKS PT Bukit Asam Pelabuhan Patimban LNG Plantation
Tbk
Tersus PT Nusantara Pelabuhan Cirebon Essential
Pelabuhan Banten Cement
Regas - Kep. Seribu Commodities
TUKS Kanci I & Tersus Kanci II
TUKS PT Cemindo Fertilizer
Vehicles
Gemilang Tbk Tersus PT Jawa Satu Power
Mining Electrical
Equipment Machinery
Equipment
Chemical Gas
IPCM | Public Expose | June ‘26
Page 8
Macroeconomy and Indonesia Port Sector Q1 '26
Global Macroeconomy Q1'26 Port Sector Q1'26
GDP Q1 2026 Ship Traffic
PDB %yoy 2025 2026F Global GDP growth in 5,61%
Global 3.4 3.1
2026 is expected to 0,4%
year on year
336.9 Million GT
weaken as global Factors: Traffic regulation and berthing schedule
AS 2,1 2,3 economic turbulence 5,02% 5,12% 5,04% 5,11% during Eid, increase in loading and unloading
Euro Area 1,4 1,1
persists. Indonesia’s queues.
GDP growth is
4,87% Source: Pelindo, May 2026
Jepang 1,2 0,7 projected to remain
at 5,0%.
China 5 4,4 Source: BPS, June 2026
Container Traffic
2%
ASEAN-5 4,5 4,1 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 year on year 4,76 Million TEUs
Indonesia 5,1 5.0 Factors: Infrastructure development and service
Source: World Bank, May 2026 Export Q1 2026 Import Q1 2026 integration, Increase in logistics activity and
international trade (export & import).
0,34% 10,05%
Indonesia is among the countries that remain Commodities Commodities
stable amid the current global conditions Crude oil Crude oil Non-Container Traffic
Oil Products
Natural Gas
Oil Products
Machinery and
19%
year on year
40.4 Million Ton
66,85 Animal / vegetable mechanical appliances Factors:
66,62 61,3
fats and oils Electrical machinery weakening industrial and commodity demand,
and equipment
Mineral fuels There has been a structural shift in logistics from
Iron and steel 55,7 conventional shipping to containers
in billion US$ Source: BPS, May 2026 in billion US$ (containerization).
Inflation in March 2026 recorded a decline compared to the Passanger Traffic
February 2026 period. Inflation in March 2026 stood at 3,48%.
Source: BI, June 2026
13%
year on year
5,6 Million People
Factors: Increase in community mobility during the
Despite global uncertainties, IPCM remains resilient, supported by stable domestic Eid period, integrating transportation modes.
conditions, solid trade activity, and growing port traffic to sustain growth momentum
IPCM | Public Expose | June ‘26
Page 9
Performance Highlight : Q1 '26
Income Statement Audited 2024 vs 2025 (YoY) Balance Sheet
REVENUE EBITDA NET INCOME TOTAL ASSETS TOTAL LIABILITIES TOTAL EQUITY
9,65% 11,99% 17,74% 3,91% 1,70% 5,48%
196.4 1.360
360.9 354.7 1.289
426.6 166.8 1.715
380.9 1.650
1.475
1.345
In Billion Rupiah
Income Statement (Q1 2025 vs Q1 2026) Balance Sheet (Audited 2025 vs Q1 2026)
REVENUE EBITDA NET INCOME TOTAL ASSETS TOTAL LIABILITIES TOTAL EQUITY
2,30% 1,12% 3,03% 4,39% 8,39% 3,35%
46 384
355 347 87 88 44 1.790 355
1.715
1.475 1.360 1.405
1.345
IPCM | Public Expose | June ‘26 Source: Financial Statement IPCM
Page 10
Accelerating Growth and Shareholder Returns
Revenue Net Profit
1474.8
1400
1345.0
CAGR : 16.22 %
1200
1138.5
1000
980.2
800 820.2
695.6 Year 2020 2021 2022 2023 2024 2025
600
Revenue 695.56 820.16 980.17 1.138.54 1,345.03 1,474.81
400
Net Profit 80.23 136.58 150.65 157.70 166.84 196.44
200 196.4
80.2 166.8
136.6 150.7 157.7 CAGR : 19.61 % *In Million Rupiah
0
2020 2021 2022 2023 2024 2025
DPS Dividend Yield (%) EPS (Rp)
35
Rp31,6
Year 2020 2021 2022 2023 2024
Rp29,9
30 Rp28,6
Rp25,9 DPS (Rp) 12.17 20.71 21.42 22.41 23.72
25
Rp23,7
20 Rp21,4 Rp22,4 Dividend Yield (%) 4.74 6.81 7.44 7.92 8.50
Rp20,7
Rp15,2
15
EPS (Rp) 15.18 25.88 28.55 29.88 31.62
10 Rp12,2 7,9% 8,5%
6,8% 7,4%
4,7%
5
0 Source: Financial Statement IPCM
2020 2021 2022 2023 2024
IPCM | Public Expose | June ‘26
Page 11
Strenghtening IPCM's Market Presence
IPCM positioned on “Main Board” IDX IPCM positioned on IDX-MES BUMN 17
Source: Media, June 2026
IPCM introduces female crew and pilot members, advancing equality at sea
IPCM | Public Expose | June ‘26
Page 12
Challenge : Fuel Price Increase and Its Mitigation
IPCM has implemented the following measures to mitigate
risks arising from the increase in fuel prices:
Source : WTI
Inventer Technology /
Shore Connection
Hybrid
D
YT
%
7,96
5
Increase in crude oil prices during 2026 Harbour Generator Solar Panel
IPCM | Public Expose | June ‘26
Page 13
Key Investment: Captive and Prepaid Customers
Pelindo as a State-Owned Enterprise (SOE)
Pelindo is a State-Owned Enterprise appointed by the
Government of Indonesia to manage port services,
particularly for public ports spread across the archipelago.
JAI within the Pelindo Group
As part of the Pelindo Group, JAI provides services to these
ports, ensuring operational excellence and compliance. In
carrying out its mandate, JAI delivers port services strictly
based on government regulations, with a strong emphasis on
safety and reliability
Commitment to Standards and Safety
Through this role, Pelindo and JAI reinforce their commitment
to supporting Indonesia’s maritime connectivity,
safeguarding operational standards, and contributing to
national development priorities.
IPCM | Public Expose | June ‘26
Page 14
Key Investment: IPCM as a Trusted Marine Partner
Leading and Recognized Marine Service Company Our Experience
34
The Company has been Since Pelindo was established in 1992,
granted with Safety JAI has become the oldest existing
Management certifications.
pilotage and towage service provider
Years in Indonesia
Advanced Protection & Indemnity Coverage
Trusted and Safe Operations
1 Trillion Maximum coverage, including
0
IDR (Marine Hull & P&I)
third party assets coverage.
Zero Fatality
2
IPCM | Public Expose | June ‘26
Page 15
Key Investment: Port Expansion & STS Market
Strategic Port Expansion Expanding STS Market
Operation of NPCT 1 and finalization of NPCT2, declared as National Nationwide STS activity (coal, LNG, offshore transfer) & Increasing
Strategic Projects by Presidential Decrees. With these projects, demand for efficient transshipment
Pelindo will double its capacity in next 5 years.
New Priok Container Terminal 1 (NPCT 1), Jakarta Patimban New Port, West Java
Port of Kijing, West Kalimantan New Priok Container Terminal 2 (NPCT2),
Jakarta
IPCM | Public Expose | June ‘26
Page 16
Catalysts for Maritime Business Expansion (1/3)
Where Industrial Activity Grows, Maritime Demand Follows
2,349
TUKS and Tersus
947 1402
TUKS Tersus
Source: Indonesian Private Terminal Association, June 2026
This potential provides collaboration opportunities for IPCM as one of the providers of pilotage and towage
services at TUKS and Tersus.
IPCM | Public Expose | June ‘26
Page 17
Catalysts for Maritime Business Expansion (2/3)
Malacca Strait: Strategic Global Shipping Route
22% of World Trade Passes Through the Malacca Strait (Source:
Center for Strategic and International Studies)
+102,500 vessels passed through the Malacca Strait in 2025, up
from around 94,300 vessels in 2024. (Malaysia’s Ministry of
Marine Affairs)
Connected to approximately 300 international ports and
located within Indonesia’s ZEE.
IPCM | Public Expose | June ‘26
Page 18
Catalysts for Maritime Business Expansion (3/3)
IPCM & SPJM Enhance Service Capabilities to Support Indonesia’s
Downstreaming Agenda
Source: Media, June 2026
IPCM | Public Expose | June ‘26
Page 19
DISCLAIMER
PT Jasa Armada Indonesia Tbk (IDX: IPCM) has published this Q1 2026 Results as a form of transparency and
accountability to present material data and information for our stakeholders. In general, the contents of this
Report are derived from internal document sources and trustworthy sources. Before being presented in this
Report, IPCM has carefully considered the data and information. However, IPCM understands that risks and
uncertainties that are caused by several factors, such as changes in the economic, social, and political
conditions in Indonesia may affect future operational performance and business conditions. Consequently,
IPCM would like to remind readers that IPCM cannot guarantee that the data and information that comprise this
Report's forward-looking statements are true, accurate, and can be fulfilled entirely
IPCM | Public Expose | June ‘26
Page 20
Names mentioned 39 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Pelindo Jasa Maritim
p.2 ×3
unresolved
org
PT PELINDO TERMINAL
p.2
unresolved
org
PT PELINDO SINERGI PETI KEMAS
p.2
unresolved
org
PT PELINDO SOLUSI MARITIM
p.2
unresolved
org
PT PENGERUKAN INDONESIA
p.2
unresolved
org
PT BERKAH INDUSTRI MESIN ANGKAT
p.2
unresolved
org
PT PELINDO MARINE SERVICE
p.2
unresolved
org
PT LAMONG ENERGI INDONESIA
p.2
unresolved
org
PT INTAN SEJAHTERA UTAMA IPCM
p.2
unresolved
person
Tupahamu
· Commissioner
p.3
unresolved
org
PT JAI
p.3 ×3
unresolved
org
Ministry of State
p.3
unresolved
org
PT Reasuransi Indonesia
p.3
unresolved
org
BAPEPAM
p.3
unresolved
org
Pelabuhan Armada Indonesia Tbk
p.3 ×2
unresolved
org
PT Indonesia Commercial
p.3
unresolved
org
Kendaraan Terminal Tbk
p.3
unresolved
org
PT Energi Shanti Puruhita
p.3
unresolved
person
Master
· President Director
p.3 ×2
unresolved
org
Ministry of Transportation Pilotage Regulations
p.5
unresolved
org
PT Pelindo (Persero)
p.7
unresolved
org
PT Trimegah Teluk Bayur Bangun Persada
p.7
unresolved
org
PT MBP
p.7
unresolved
org
PT PGN LNG Indonesia Nickel
p.7
unresolved
org
Plantation Tbk
p.7
unresolved
org
PT Cemindo
p.7
unresolved
org
Fertilizer Vehicles Gemilang Tbk
p.7
unresolved
org
PT Jawa Satu Power Mining
p.7
unresolved
org
Ministry of Marine Affairs
p.17
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