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Page 1
PT FAP Agri Tbk
dan Entitas Anak/
and Subsidiaries
Laporan keuangan konsolidasian /
Consolidated financial statements

30 Juni 2024 /
June 30, 2024

Tidak diaudit / Unaudited
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Page 3

          
Page 4
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

 PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
 LAPORAN POSISI KEUANGAN                                           CONSOLIDATED STATEMENTS
 KONSOLIDASIAN                                                     OF FINANCIAL POSITION
 Tanggal 30 Juni 2024 dan 31 Desember 2023                         As of June 30, 2024 and December 31, 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)




                                   Catatan/
                                    Notes         30/06/2024          31/12/2023

ASET                                                                                                                         ASSETS

ASET LANCAR                                                                                                    CURRENT ASSETS
Kas dan bank                             5       494.940.343.000     475.802.009.410                                Cash and bank
Piutang usaha                         6,30                                                                       Trade Receivables
  Pihak berelasi                                  41.891.141.867      79.686.742.395                              Related parties
  Pihak ketiga                                    68.666.852.219      99.282.685.642                                 Third parties
Piutang lain-lain                         30                                                                      Other receivables
  Pihak berelasi                                     164.738.188         117.604.667                              Related parties
  Pihak ketiga                                    11.989.919.816      23.303.429.758                                 Third parties
Persediaan                               7       624.389.024.831     694.195.559.439                                     Inventories
Aset biologis                            8       177.822.786.693     143.690.470.900                               Biological assets
Pajak dibayar dimuka                   17a        11.701.123.556      21.892.715.637                                  Prepaid taxes
Uang muka dan biaya                                                                                           Advances and prepaid
  dibayar dimuka                          9      137.282.252.634     262.307.487.611                                       expenses

Jumlah Aset Lancar                             1.568.848.182.804   1.800.278.705.459                            Total Current Assets

ASET TIDAK LANCAR                                                                                      NON-CURRENT ASSETS
Piutang perkebunan kemitraan         10          431.094.516.261    433.830.341.452            Partnership plantation receivables
Proyek perkebunan kemitraan          11           48.362.413.967    145.046.847.851                 Partnership plantation project
Tanaman perkebunan:                  12                                                                                Plantations
 Tanaman menghasilkan -                                                                                     Mature plantations –
 setelah dikurangi akumulasi                                                                                 net of accumulated
 penyusutan sebesar                                                                                              depreciation of
 Rp 2.193.463.090.569 pada                                                                             Rp2,193,463,090,569 at
 30 Juni 2024 dan                                                                                            June 30, 2024 and
 Rp 2.065.216.030.795 pada                                                                             Rp2,065.216.030.795 at
 31 Desember 2023                              3.241.059.409.451   3.011.014.031.409                        December 31, 2023
Tanaman belum menghasilkan                       142.026.713.506     338.268.430.832                       Immature plantations
Aset tetap - setelah dikurangi                                                             Property, plant and equipment – net of
 akumulasi penyusutan sebesar                                                                     accumulated depreciation of
 Rp 3.063.998.052.427 pada                                                                             Rp3,063,998,052,427 at
 30 Juni 2024 dan                                                                                            June 30, 2024 and
 Rp 2.882.213.109.042 pada                                                                             Rp2,882,213,109,042 at
 31 Desember 2023                    13        2.616.098.861.990   2.602.375.729.615                        December 31, 2023
Aset hak guna                        14              321.180.780         362.182.582                           Right-of-use assets
Aset pajak tangguhan                17e          176.501.056.112     162.883.348.968                           Deferred tax assets
Taksiran tagihan pengembalian                                                                               Estimated claim for tax
 pajak                              17c          160.219.187.903    137.706.645.948                                        Refund
Aset tidak lancar lain-lain                        2.283.640.628      2.269.181.619                     Other non-current assets

Jumlah Aset tidak Lancar                       6.817.966.980.598   6.833.756.740.276                       Total Non-current Assets

JUMLAH ASET                                    8.386.815.163.402   8.634.035.445.735                                TOTAL ASSETS




   Catatan atas laporan keuangan konsolidasian merupakan                 The accompanying notes are an integral part of
    bagian yang tidak terpisahkan dari laporan keuangan.                    these consolidated financial statements.

                                                               1
Page 5
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

 PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
 LAPORAN POSISI KEUANGAN                                             CONSOLIDATED STATEMENTS
 KONSOLIDASIAN (lanjutan)                                            OF FINANCIAL POSITION (continued)
 Tanggal 30 Juni 2024 dan 31 Desember 2023                           As of June 30, 2024 and December 31, 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)




                                      Catatan/
                                       Notes        30/06/2024          31/12/2023

LIABILITAS DAN EKUITAS                                                                                    LIABILITIES AND EQUITY

LIABILITAS JANGKA PENDEK                                                                                   CURRENT LIABILITIES
Cerukan bank                                20    793.996.198.233     724.815.246.998                                 Bank overdraft
Utang Usaha                              15,30                                                                       Trade payables
  Pihak berelasi                                       10.272.341         565.902.699                                 Related parties
  Pihak ketiga                                    306.796.145.698     362.958.591.786                                     Third parties
Utang lain-lain                          16,30                                                                       Other payables
  Pihak berelasi                                   22.557.995.166      39.263.282.926                                 Related parties
  Pihak ketiga                                    168.101.632.965     177.977.660.698                                     Third parties
Utang Pajak                               17b      74.760.395.830      40.577.538.471                                 Taxes payable
Beban akrual                               18     122.239.709.599     125.321.051.131                            Accrued expenses
Uang muka penjualan                        19                                                                        Sales advances
  Pihak ketiga                                    367.844.913.000     416.385.601.610                                     Third parties
Utang dividen                                      15.600.000.000                   -                            Dividends payable
Liabilitas jangka panjang jatuh                                                                         Long-term liabilities – current
  tempo dalam satu tahun:                                                                                                   maturities:
  Utang bank                                20    650.332.728.659     705.892.065.280                                       Bank loans
  Liabilitas sewa                           21        530.951.617         467.861.055                                Lease liabilities

Jumlah Liabilitas Jangka Pendek                  2.522.770.943.108   2.594.224.802.654                         Total Current Liabilties

LIABILITAS JANGKA PANJANG                                                                            NON-CURRENT LIABILITIES
Utang perkebunan kemitraan                10       28.189.317.869        2.460.032.041            Partnership plantation payables
Liabilitas imbalan kerja                  22      144.663.415.974      120.846.467.954                Employee benefits liabilities
Liabilitas pajak tangguhan               17e       26.612.065.250       23.756.092.290                     Deferred tax liabilities
Liabilitas jangka panjang - setelah
  dikurangi bagian jatuh tempo                                                                                Long-term liabilities –
  dalam satu tahun:                                                                                        net of current maturities:
  Utang bank                               20    1.628.236.035.663   1.828.370.850.985                                 Bank loans
  Liabilitas sewa                          21          432.816.157         728.220.945                            Lease liabilities

Jumlah Liabilitas Jangka Panjang                 1.828.133.650.913   1.976.161.664.215                   Total Non-Current Liabilities

JUMLAH LIABILITAS                                4.350.904.594.021   4.570.386.466.869                           TOTAL LIABILITIES




    Catatan atas laporan keuangan konsolidasian merupakan                  The accompanying notes are an integral part of
     bagian yang tidak terpisahkan dari laporan keuangan.                     these consolidated financial statements.

                                                                 2
Page 6
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

 PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
 LAPORAN POSISI KEUANGAN                                               CONSOLIDATED STATEMENTS
 KONSOLIDASIAN (lanjutan)                                              OF FINANCIAL POSITION (continued)
 Tanggal 30 Juni 2024 dan 31 Desember 2023                             As of June 30, 2024 and December 31, 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                     (Expressed in Rupiah, unless otherwise stated)




                                      Catatan/
                                       Notes         30/06/2024           31/12/2023

EKUITAS                                                                                                                        EQUITY
Modal saham – nilai nominal Rp1.000                                                                 Capital stock – Rp1,000 par value
 Modal dasar – 12.000.000.000                                                                         Authorized – 12,000,000,000
 Modal ditempatkan dan disetor -                                                                     Shares subscribed and paid-up-
    penuh 3.629.411.800 saham             23       3.629.411.800.000   3.629.411.800.000                      3,629,411,800 shares
Tambahan modal disetor                    24         462.087.643.325     462.087.643.325                      Additional paid-in capital
Defisit                                          (197.349.218.008)      (280.398.905.485)                                        Deficit
Saham treasuri                            23      (95.503.135.134)                      -                             Treasury shares
Penghasilan komprehensif lain:                                                                       Other comprehensive income:
 Keuntungan aktuaria                                 56.354.079.589       56.354.079.589                             Gain on actuarial

Ekuitas diatribusikan langsung                                                                          Equity attributable to owners of
 kepada pemilik entitas induk                     3.855.001.169.772    3.867.454.617.429                         the parent company
Kepentingan nonpengendali                  25       180.909.399.609      196.194.361.437                        Non-controlling interest

JUMLAH EKUITAS                                    4.035.910.569.381    4.063.648.978.866                                 TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS                     8.386.815.163.402    8.634.035.445.735          TOTAL LIABILITIES AND EQUITY




   Catatan atas laporan keuangan konsolidasian merupakan                     The accompanying notes are an integral part of
    bagian yang tidak terpisahkan dari laporan keuangan.                        these consolidated financial statements.

                                                                  3
Page 7
                                                                                 The original consolidated financial statements included herein are in
                                                                                                                                Indonesian language.

 PT FAP AGRI Tbk                                                              PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                             AND ITS SUBSIDIARIES
 LAPORAN LABA RUGI DAN PENGHASILAN                                            CONSOLIDATED STATEMENTS OF PROFIT OR
 KOMPREHENSIF LAIN KONSOLIDASIAN                                              LOSS AND OTHER COMPREHENSIVE INCOME
 Untuk periode yang berakhir pada tanggal                                     For the periods ended June 30, 2024 and 2023
 30 Juni 2024 dan 2023                                                        (Expressed in Rupiah, unless otherwise stated)
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)


                                      Catatan/
                                       Notes            30/06/2024               30/06/2023

PENJUALAN NETO                         26,30        2.487.041.038.224         2.458.235.101.498                                      NET SALES

BEBAN POKOK PENJUALAN                     27        (2.010.132.507.147)       (2.090.251.999.647)                    COST OF GOODS SOLD

LABA BRUTO                                            476.908.531.077           367.983.101.851                                 GROSS PROFIT

BEBAN USAHA                                                                                                       OPERATING EXPENSES
Beban penjualan                           28a        (143.067.099.594)        (142.888.148.894)                           Selling expenses
Beban umum dan administrasi               28b        (104.908.453.320)         (83.372.620.281)         General and administrative expenses

Jumlah beban usaha                                    (247.975.552.914)       (226.260.769.175)                       Total operating expenses

LABA USAHA                                            228.932.978.163          141.722.332.676           P RO F I T F R O M O P E RA T I O N S
PENGHASILAN (BEBAN)
LAIN-LAIN                                                                                                OTHER INCOME (EXPENSES)
Penghasilan keuangan                     29a            13.268.580.307           10.522.919.659                         Finance incomes
Laba (rugi) selisih kurs - neto                        (54.050.290.463)          67.922.835.116   Gain (loss) on foreign exchange - net
Laba (rugi) perubahan nilai wajar                                                                Gain (loss) from the fair value changes
  aset biologis                            8            34.132.315.793          (6.436.872.922)                      of biological assets
Beban keuangan                           29b          (117.917.301.151)       (104.751.799.968)                             Finance costs
Beban pajak                                              (171.228.135)           (1.222.418.579)                         Tax expenses
Lain-lain - neto                                        16.294.717.309           17.379.438.989                               Others - net

Jumlah beban lain-lain - neto                         (108.443.206.340)         (16.585.897.705)                     Total other expenses - net

LABA SEBELUM PAJAK                                                                                                            PROFIT BEFORE
PENGHASILAN                                            120.489.771.823         125.136.434.971                                   INCOME TAX

MANFAAT (BEBAN)                                                                                                                INCOME TAX
PAJAK PENGHASILAN                                                                                                       BENEFIT (EXPENSES)
 Pajak kini                               17d          (42.818.780.358)        (49.382.137.979)                                Current tax
 Pajak tangguhan                          17d           10.761.734.184          18.997.155.205                                 Deferred tax
Jumlah beban
  pajak penghasilan                                    (32.057.046.174)        (30.384.982.774)                     Total income tax expenses

LABA BERSIH TAHUN BERJALAN                              88.432.725.649           94.751.452.197                       PROFIT FOR THE YEAR

PENGHASILAN KOMPREHENSIF
LAIN                                                                                                   OTHER COMPREHENSIVE INCOME
Pos yang tidak akan direklasifikasi                                                                        Items that will not be reclassified
 ke laba rugi:                                                                                                             to profit or loss:
Pengukuran kembali atas program                                                                                  Remeasurement of defined
 imbalan pasti                                 22                        -                        -                       benefit obligation
Pajak penghasilan terkait pos                                                                                     Income tax related to item
 yang tidak akan direklasifikasi                                                                               that will not be reclassified
 ke laba rugi                              17e                           -                        -                           to profit or loss

Penghasilan komprehensif lain
 tahun berjalan setelah                                                                                          Other comprehensive income
 pajak penghasilan                                                        -                        -                  net of tax for the year

JUMLAH LABA (RUGI) KOMPREHENSIF                                                                                 TOTAL COMPREHENSIVE
TAHUN BERJALAN                                          88.432.725.649           94.751.452.197             PROFIT (LOSS) FOR THE YEAR




    Catatan atas laporan keuangan konsolidasian merupakan                            The accompanying notes are an integral part of
     bagian yang tidak terpisahkan dari laporan keuangan.                               these consolidated financial statements.

                                                                     4
Page 8
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

 PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
 LAPORAN LABA RUGI DAN PENGHASILAN                                     CONSOLIDATED STATEMENTS OF PROFIT OR
 KOMPREHENSIF LAIN KONSOLIDASIAN                                       LOSS AND OTHER COMPREHENSIVE INCOME
 Untuk periode yang berakhir pada tanggal                              For the periods ended June 30, 2024 and 2023
 30 Juni 2024 dan 2023                                                 (Expressed in Rupiah. unless otherwise stated)
 (Disajikan dalam Rupiah. kecuali dinyatakan lain)



                                   Catatan/
                                    Notes         30/06/2024              30/06/2023

LABA (RUGI) BERSIH TAHUN
BERJALAN YANG DAPAT                                                                      NET INCOME (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA:                                                                                  ATTRIBUTABLE TO:
Pemilik entitas induk                            83.049.687.477           89.951.057.684             Owners of the company
Kepentingan nonpengendali                25       5.383.038.172            4.800.394.513              Non-controlling interest

Jumlah                                           88.432.725.649           94.751.452.197                                             Total

PENGHASILAN KOMPREHENSIF
LAIN TAHUN BERJALAN                                                                                      COMPREHENSIVE INCOME
SETELAH PAJAK YANG DAPAT                                                                                NET OF TAX FOR THE YEAR
DIATRIBUSIKAN KEPADA                                                                                            ATTRIBUTABLE TO
Pemilik entitas induk                                              -                      -                  Owners of the company
Kepentingan nonpengendali                25                        -                      -                   Non-controlling interest

Jumlah                                                             -                      -                                          Total

JUMLAH LABA (RUGI) KOMPREHENSIF                                                                         TOTAL COMPREHENSIVE
TAHUN BERJALAN YANG DAPAT                                                                          INCOME (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA                                                                                         ATTRIBUTABLE TO
Pemilik entitas induk                             83.049.687.477          89.951.057.684                   Owners of the company
Kepentingan nonpengendali                25        5.383.038.172           4.800.394.513                    Non-controlling interest

Jumlah                                            88.432.725.649          94.751.452.197                                             Total

LABA (RUGI) PER SAHAM DASAR                                                                BASIC EARNING (LOSS) PER SHARE
YANG DAPAT DIATRIBUSIKAN                                                                                 ATTRIBUTABLE TO
KEPADA PEMILIK ENTITAS INDUK              33               23,00                     24,78        OWNERS OF THE COMPANY




   Catatan atas laporan keuangan konsolidasian merupakan                     The accompanying notes are an integral part of
    bagian yang tidak terpisahkan dari laporan keuangan.                        these consolidated financial statements.

                                                               5
Page 9
                                                                                                                                                                                       The original consolidated financial statements included herein are in Indonesian language.


  PT FAP AGRI Tbk                                                                                                                                       PT FAP AGRI Tbk
  DAN ENTITAS ANAK                                                                                                                                      AND ITS SUBSIDIARIES
  LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                               CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
  Untuk periode yang berakhir pada tanggal 30 Juni 2024 dan 2023                                                                                        For the periods ended June 30, 2024 and 2023
  (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                                                                     (Expressed in Rupiah, unless otherwise stated)

                                                                                         Diatribusikan kepada pemilik entitas induk/Attributable of the parent



                                                                    Tambahan                                                                Keuntungan                                     Kepentingan
                                                                   modal disetor/                                                            aktuaria/                                    nonpengendali/
                                Catatan/     Modal saham/             Additional                  Defisit/         Saham treasuri/           Gain on                  Jumlah/             Non-controlling       Jumlah ekuitas/
                                Notes        Capital stock         paid-in capital                Deficit          Treasury shares           actuarial                  Total                interest             Total equity

Saldo per 1 Januari 2023                   3.629.411.800.000        462.087.643.325         22(433.969.868.365)                             53.563.844.848        3.711.093.419.808        187.918.571.333      3.899.011.991.141   Balance as of January 1. 2023

Jumlah laba (rugi)                                                                                                                                                                                                                     Total comprehensive income
  Komprehensif tahun berjalan                             -                      -             89.951.057.684                      -                      -         89.951.057.684           4.800.394.513        94.751.452.197                 (loss) for the year

Saldo per                                                                                                                                                                                                                                             Balance as of
30 Juni 2023                           3.629.411.800.000          462.087.643.325            (344.018.810.681)                              53.563.844.848        3.801.044.477.492        192.718.965.846      3.993.763.443.338                     June 30, 2023

Saldo per                                                                                                                                                                                                                                            Balance as of
01 Januari 2024                            3.629.411.800.000        462.087.643.325           (280.398.905.485)                      -      56.354.079.589        3.867.454.617.429        196.194.361.437      4.063.648.978.866                  January 01, 2024
Dividen entitas anak kepada                                                                                                                                                                                                                 Dividends of a subsdiary
   kepentingan nonpengendali                                  -                      -                        -                      -                    -                       -        (20.668.000.000)      (20.668.000.000)       to non-controlling interest

Saham treasuri                                                -                      -                        -     (95.503.135.134)                      -         (95.503.135.134)                        -    (95.503.135.134)                   Treasury shares
Jumlah laba (rugi)                                                                                                                                                                                                                      Total comprehensive income
  Komprehensif tahun berjalan                                 -                      -          83.049.687.477                         -                      -      83.049.687.477         5.383.038.172         88.432.725.649                  (loss) for the year

Saldo per                                                                                                                                                                                                                                             Balance as of
30 Juni 2024                               3.629.411.800.000       462.087.643.325             (197.349.218.008)     (95.503.135.134)       56.354.079.589        3.855.001.169.772        180.909.399.609      4.035.910.569.381                     June 30, 2024




  Catatan atas laporan keuangan konsolidasian merupakan bagian yang tidak terpisahkan dari laporan                                                                                          The accompanying notes are an integral part of
                                             keuangan.                                                                                                                                         these consolidated financial statements.

                                                                                                                                            6
Page 10
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

 PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
 LAPORAN ARUS KAS KONSOLIDASIAN                                        CONSOLIDATED STATEMENTS OF CASH FLOWS
 Untuk periode yang berakhir pada tanggal                              For the periods ended June 30, 2024 and 2023
 30 Juni 2024 dan 2023                                                 (Expressed in Rupiah, unless otherwise stated)
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)

                                      Catatan/
                                       Notes         30/06/2024            30/06/2023

ARUS KAS DARI AKTIVITAS                                                                                         CASH FLOWS FROM
OPERASI                                                                                                    OPERATING ACTIVITIES
Penerimaan dari pelanggan                         2.506.911.783.565     2.233.185.591.059                Cash receipts from customers
Pembayaran kepada karyawan dan                   (1.771.208.339.142)   (1.668.573.799.072)        Cash paid to employees and suppliers
pemasok
Penerimaan aktivitas operasional lainnya            55.110.702.455        85.998.621.758              Reciept to other operational activity

Kas yang diperoleh dari aktivitas
 operasi                                           790.814.146.878       650.610.413.745           Cash provided by operating activities

Penerimaan penghasilan bunga                                                                       Cash receipts from interest income on
 deposito dan jasa giro                    29a       12.585.714.169       10.482.422.003               bank accounts and time deposits
Penerimaan klaim asuransi                  29a          682.866.138           40.497.656             Cash receipts from insurance claim
Pembayaran pajak penghasilan
 badan                                              (46.143.153.020)    (143.757.389.031)                Payment of corporate income tax

Kas neto diperoleh dari aktivitas                                                                      Net cash provided by operating
 operasi                                            757.939.574.165      517.375.944.373                                    activities

ARUS KAS DARI                                                                                                    CASH FLOWS FROM
AKTIVITAS INVESTASI                                                                                            INVESTING ACTIVITIES
Penambahan piutang                                                                                                Additions of partnership
  perkebunan kemitraan                     10        28.465.111.019         9.439.297.113                        plantation receivables
Penambahan proyek                                                                                                 Additions of partnership
 perkebunan kemitraan                      11       (12.151.565.130)     (20.158.852.768)                             plantation projects
Penambahan tanaman belum
 menghasilkan                              12       (37.437.367.194)     (38.388.316.216)               Additions of immature plantations
                                                                                                              Acquisition of property plant
Perolehan aset tetap                       13     (174.324.695.696)     (235.080.078.729)                                  and equipment
                                                                                                                   Sales of property plant

Kas neto digunakan untuk
aktivitas investasi                               (195.448.517.001)     (284.187.950.600)        Net cash used in investing activities

ARUS KAS DARI                                                                                                    CASH FLOWS FROM
AKTIVITAS PENDANAAN                                                                                           FINANCING ACTIVITIES
Pembayaran dividen kepada                                                                                        Payments of dividend to
 kepentingan nonpengendali                          (5.068.000.000)                      -                     non-controlling interest
Penambahan utang bank                               51.338.821.557         79.053.696.442                         Additions of bank loans
Pembayaran utang bank                             (445.288.274.931)     (434.680.696.932)                        Payments of bank loans
Pembayaran bunga utang bank                       (117.744.532.074)     (116.493.847.344)            Payments of interest on bank loans
Pembayaran liabilitas sewa                            (232.314.226)         (251.746.127)                      Paymets of lease liabilities
Pembayaran bunga liabilitas sewa                       (36.240.000)           (37.049.816)            Interest paymets of lease liabilities
Pembayaran untuk pembelian                                                                                Cash payment for purchase of
  saham treasuri                                   (95.503.135.134)                        -                         treasury shares

Kas neto digunakan untuk                                                                                                  Net cash used in
 aktivitas pendanaan                              (612.533.674.808)     (472.409.643.777)                              financing activities




    Catatan atas laporan keuangan konsolidasian merupakan                     The accompanying notes are an integral part of
     bagian yang tidak terpisahkan dari laporan keuangan.                        these consolidated financial statements.

                                                                  7
Page 11
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN                                     CONSOLIDATED STATEMENTS OF CASH FLOWS
Untuk periode yang berakhir pada tanggal                           For periods ended June 30, 2024 and 2023
30 Juni 2024 dan 2023                                              (Expressed in Rupiah. unless otherwise stated)
(Disajikan dalam Rupiah. kecuali dinyatakan lain)




                                  Catatan/
                                   Notes         30/06/2024           30/06/2023


KENAIKAN (PENURUNAN) NETO KAS                                                                    NET INCREASE (DECREASE) IN
DAN                                                                                                                CASH ON
BANK DIBATASI PENGGUNAANNYA                                                                              HAND AND IN BANKS
DAN CERUKAN BANK                               (50.042.617.644)     (239.221.650.004)                  AND BANK OVERDRAFT

KAS DAN BANK DAN                                                                                 CASH ON HAND AND IN BANKS
CERUKAN BANK PADA                                                                                   BANK OVERDRAFT AT THE
AWAL TAHUN                                    (249.013.237.588)        80.029.069.020                BEGINNING OF THE YEAR

KAS DAN BANK DAN                                                                                   CASH ON HAND AND IN BANKS
CERUKAN BANK PADA                                                                                     BANK OVERDRAFT AT THE
AKHIR TAHUN                                   (299.055.855.232)     (159.192.580.984)                        END OF THE YEAR


Kas dan bank                                                                                         Cash on hand and cash in banks
 cerukan bank terdiri dari:                                                                             bank overdraft are consist of:
 Kas dan bank                            5      494.940.343.000       646.682.017.423                    Cash on hand and in banks
 Cerukan bank                           20     (793.996.198.233)     (546.555.736.481)                                Bank overdraft

Jumlah                                         (299.055.855.233)      100.126.280.942                                                Total




  Catatan atas laporan keuangan konsolidasian merupakan                  The accompanying notes are an integral part of
   bagian yang tidak terpisahkan dari laporan keuangan.                     these consolidated financial statements.

                                                              8
Page 12
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                               PT FAP AGRI Tbk
DAN ENTITAS ANAK                                              AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                 FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                 As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)             (Expressed in Rupiah, unless otherwise stated)


1.   UMUM                                                     1.    GENERAL

     a.   Pendirian Perusahaan                                      a. Company Establishment

          PT FAP Agri Tbk (“Perusahaan atau Entitas                       PT FAP Agri Tbk (“the Company or Parent
          Induk”) didirikan berdasarkan Akta No. 27                       Entity”) was established based on Notarial
          tanggal 28 Desember 1994 dari Notaris P.                        Deed No. 27 dated December 28, 1994 of
          Sutrisno A. Tampubolon, S.H. Akta pendirian                     Notary P. Sutrisno A. Tampubolon, S.H. The
          Perusahaan telah disahkan oleh Menteri                          deed of establishment was approved by the
          Kehakiman Republik Indonesia dalam Surat                        Minister of Justice of the Republic of Indonesia
          Keputusan No. C2-3.402 HT.01.01.Th.95                           in    Decision     Letter      No.      C2-3.402
          tanggal 14 Maret 1995 dan diumumkan dalam                       HT.01.01.Th.95 dated March 14, 1995 and
          Berita Negara Republik Indonesia No. 63                         published in State Gazette No. 63 dated August
          tanggal 9 Agustus 2005, Tambahan No. 8419.                      9, 2005, Supplement No. 8419.

          Berdasarkan Akta No. 1 tanggal 4 Nopember                       Based on Notarial Deed No. 1 dated November
          2008 dari Notaris Ira Widyasari Juwono, S.H.,                   4, 2008 of Notary Ira Widyasari Juwono, S.H.,
          seluruh Anggaran Dasar Perusahaan telah                         the Company’s Articles of Association have
          disesuaikan dengan ketentuan Undang-                            complied with      Law No. 40 year 2007
          Undang No. 40 tahun 2007 tentang Perusahaan                     concerning Limited Liability Companies. The
          Terbatas. Akta perubahan Anggaran Dasar                         deed of amendment to the Articles of
          tersebut telah memperoleh persetujuan dari                      Association was approved by the Minister of
          Menteri Hukum dan Hak Asasi Manusia                             Law and Human Rights of the Republic of
          Republik Indonesia dalam Surat Keputusan                        Indonesia in Decision Letter       No. AHU-
          No. AHU-88372.AH.01.02 Tahun 2008 tanggal                       88372.AH.01.02 Tahun 2008 dated November
          20 Nopember 2008.                                               20, 2008.

          Anggaran      Dasar     Perusahaan      telah                   The Company’s Articles of Association had
          mengalami      beberapa    kali   perubahan,                    been    amended      several    times,  most
          terakhir dalam Akta Notaris No. 47 tanggal                      recent in Notarial Deed No. 47 dated
          27 Oktober 2021 dari Notaris Ir. Nanette                        October 27, 2021 by Notary Ir. Nanette
          Cahyanie Handari Adi Warsito, S.H. Perubahan                    Cahyanie    Handari     Adi Warsito,     S.H.
          ini terkait dengan perubahan tempat dan                         The amendment was related to the changes in
          kedudukan Perusahaan. Perubahan ini telah                       Company’s      location      and     domicile.
          mendapat persetujuan dari Menteri Hukum dan                     The amendment had been approved by The
          Hak Asasi Manusia Republik Indonesia dalam                      Minister of Law and Human Rights of the
          Surat        Keputusan       No.        AHU-                    Republic of Indonesia in Decision Letter
          0060265.AH.01.02.Tahun 2021 tanggal 28                          No.    AHU-0060265.AH.01.02.Tahun       2021
          Oktober 2021.                                                   dated October 28, 2021.

          Sesuai dengan Pasal 3 Anggaran Dasar                            According to Article 3 of the Company’s Articles
          Perusahaan, maksud dan tujuan Perusahaan                        of Association, the Company’s purposes and
          adalah menjalankan usaha dalam bidang                           objectives are engaging in agriculture, industrial
          pertanian, industri dan perdagangan. Untuk                      and trading activities. To fulfill those purposes
          mencapai maksud dan tujuan tersebut di atas,                    and objectives, the Company is allowed to
          Perusahaan dapat melaksanakan kegiatan                          operate in activities as follows:
          usaha sebagai berikut:




                                                          9
Page 13
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                               1.    GENERAL (continued)

     a.    Pendirian Perusahaan (lanjutan)                               a. Company Establishment (continued)

           a.   Kegiatan usaha utama:                                         a.a.   Main business activities:
                i) Perdagangan besar buah yang                                       i) Wholesale fruit which contains oil;
                     mengandung minyak;
                ii) Perdagangan besar minyak dan lemak                               ii) Wholesale oil and vegetable fat;
                     nabati;
                iii) Aktivitas perusahaan holding;                                   iii) Holding company activities;
                iv) Aktivitas kantor pusat;                                          iv) Head office activities;
                v) Aktivitas      konsultasi   manajemen                             v) Other         management      consulting
                     lainnya.                                                             activities.
           b.   Kegiatan usaha penunjang:                                     a.b.   Supporting business activities:
                i) Pembelian, penyewaan, atau tindakan                               i) Purchase, lease, or any other actions
                     lain untuk memperoleh kepemilikan                                    in order to obtain ownership or use of
                     maupun        penggunaan        tanah,                               land,        buildings,      transportation
                     bangunan,      sarana     transportasi                               infrastructures and/or any other objects
                     dan/atau objek lain yang menunjang                                   which       support     the     Company’s
                     kegiatan Perusahaan;                                                 activities;
                ii) Kerjasama dengan pihak lain termasuk                             ii) Cooperation         with    other    parties
                     kemitraan;                                                           including partnership;
                iii) Kegiatan lain yang lazim selama tidak                           iii) Any other prevalent activities as long
                     bertentangan     dengan      peraturan                               as not contradict with prevailing laws
                     perundang-undangan yang berlaku.                                     and regulations.

           Perusahaan berkedudukan di Gedung Gold                              The Company is domiciled in Gold Coast
           Coast, Tower Liberty Lantai 16 Unit A-H, Jalan                      Building, Liberty Tower Level 16 A-H Unit,
           Pantai   Indah     Kapuk,    Kamal     Muara,                       Pantai Indah Kapuk Boulevard, Kamal Muara,
           Penjaringan, Jakarta Utara.                                         Penjaringan, North Jakarta.
           Perusahaan memulai kegiatan operasionalnya                          The Company commenced                         commercial
           pada tahun 2008.                                                    operations in 2008.
           Pemilik terakhir adalah Wirastuty Fangiono.                         Ultimate shareholder is Wirastuty Fangiono.


     b.    Susunan Pengurus dan Informasi Lain                           b. Management and Other Information

           Susunan pengurus Perusahaan pada tanggal                            The      Company’s     management                          at
           30 Juni 2024 dan 31 Desember 2023 :                                 June 30, 2024 and December 31, 2023 :

          Dewan Komisaris                                                                              Board of Commissioners
          Komisaris Utama            :                    Donny                             :            President Commissioner
          Komisaris Independen       :                Muhammad Salim                        :         Independent Commissioner

          Dewan Direksi                                                                                          Board of Directors
          Direktur Utama             :                   Ricky Tjandra                      :                     President Director
          Direktur                   :                     Ali Imran                        :                               Director

          Komite Audit                                                                                           Audit Committees
          Ketua                      :                Muhammad Salim                        :                            Chairman
          Anggota                    :                      David                           :                             Member
          Anggota                    :               Ferry Perdana Putra                    :                             Member




                                                              10
Page 14
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                               PT FAP AGRI Tbk
DAN ENTITAS ANAK                                              AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                 FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                 As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)             (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                          1.    GENERAL (continued)

     b.   Susunan Pengurus dan Informasi Lain                       b.    Management             and       Other       Information
          (lanjutan)                                                      (continued)

          Jumlah karyawan tetap Perusahaan dan entitas                    As of June 30, 2024 and 31 December 2023,
          anak         (secara         bersama-sama                       the Company and its subsidiaries (collectively
          disebut sebagai “Grup”) pada tanggal                            referred to as the “Group”) has a total of 16,496
          30 Juni 2024 dan 31 Desember 2023 masing-                       and 16,143 permanent employees, respectively
          masing adalah 16.496 dan 16.143 orang (tidak                    (unaudited).
          diaudit).

     c.   Penawaran Umum Efek Grup                                  c. Public Offering of Shares and Boards of the
                                                                       Group

          Pada tanggal 17 Desember 2020, Perusahaan                       On December 17, 2020, the Company obtained
          memperoleh pernyataan efektif dari Dewan                        the effective notice from the Board of
          Komisioner Otoritas Jasa Keuangan (“OJK”)                       Commissioners of the Financial Services
          melalui Surat Keputusan No. S-292/D.04/2020                     Authority (“OJK”) through Decree No. S-
          untuk melakukan penawaran umum perdana                          292/D.04/2020 for its public offering of
          atas 544.411.800 lembar saham Perusahaan                        544,411,800 shares, with a par value
          kepada masyarakat, dengan nilai nominal                         amounting to Rp1,000 per share and offering
          sebesar Rp1.000 per lembar saham dan harga                      value amounting to Rp1,840 per share. On
          penawaran sebesar Rp1.840 per lembar                            January 4, 2021, those shares have been listed
          saham. Pada tanggal 4 Januari 2021, saham                       on the Indonesia Stock Exchanges.
          tersebut telah dicatatkan pada Bursa Efek
          Indonesia.

          Pada tanggal 30 Juni 2024, sejumlah                             On June 30, 2024, the Company’s
          3.629.411.800 lembar saham Perusahaan                           3,629,411,800 shares are listed on the
          tercatat pada Bursa Efek Indonesia.                             Indonesia Stock Exchanges.




                                                         11
Page 15
                                                                                             The original consolidated financial statements included herein are in
                                                                                                                                            Indonesian language.

PT FAP AGRI Tbk                                                                         PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                        AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                           As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah, unless otherwise stated)


1.    UMUM (lanjutan)                                                                   1.    GENERAL (continued)

      d.     Entitas Anak (lanjutan)                                                          d. Consolidated Subsidiaries (continued)
             Perusahaan memiliki secara langsung lebih dari                                         The Company has direct ownership interest of
             50% saham atau memiliki pengendalian atas                                              more than 50% or has control over the
             manajemen entitas anak sebagai berikut:                                                management of the following subsidiaries:
                                                                                                                                 Jumlah Aset sebelum
                                                                                              Persentase Pemilikan/              Eliminasi/Total Assets
                                                                                                  Percentage of                   Before Eliminations
                                                            Jenis Usaha/   Tahun beroperasi        Ownership                              (Rp)
                                        Lokasi/               Nature of    komersial/Year
     Entitas Anak/Subsidiaries         Location               Business      of commercial
                                                                              operations    30/06/2024    31/12/2023        30/06/2024            31/12/2023

     Dimiliki langsung oleh Perusahaan/
     Held directly by the Company

     PT Borneo Bhakti Sejahtera    Kalimantan Timur    Perkebunan                   2017       95,00%        95,00%      1.388.854.795.748     1.055.724.252.972
        (BBS)                                          dan pengelohan
                                                       kelapa sawit/
                                                       Oil palm
                                                       plantation and
                                                       processing
     PT Marsam Citra Adiperkasa    Kalimantan Timur    Perkebunan                   2017       95,00%        95,00%      1.431.101.624.349     1.551.732.932.204
       (MCA)                                           Kelapa Sawit/
                                                       Oil palm
                                                       plantation
     PT Setia Agro Utama           Kalimantan Timur    Perkebunan                   2018       95,00%        95,00%        583.277.201.989       611.304.304.684
       (SAU)                                           Kelapa Sawit/
                                                       Oil palm
                                                       plantation
     PT Ketapang Hijau Lestari     Kalimantan Timur    Perkebunan                   2017       95,00%        95,00%        984.661.054.879       917.841.978.986
       (KPL)                                           Kelapa Sawit/
                                                       Oil palm
                                                       plantation

     PT Karangjuang Hijaulestari   Kalimantan Utara    Perkebunan                   2007       95,00%        95,00%      1.365.078.517.770     1.545.196.595.809
        (KHL)                                          dan pengelohan
                                                       kelapa sawit/
                                                       Oil palm
                                                       plantation and
                                                       processing
     PT Bhumi Simanggaris Indah    Kalimantan Utara    Perkebunan                   2009       95,00%        95,00%        597.288.178.785       968.661.176.141
        (BSI)                                          dan pengelohan
                                                       kelapa sawit/
                                                       Oil palm
                                                       plantation and
                                                       processing
     PT Tirta Madu Sawit Jaya      Kalimantan Utara    Perkebunan                   2012       95,00%        95,00%      1.081.885.719.510     1.448.470.911.068
        (TMSJ)                                         dan pengelohan
                                                       kelapa sawit/
                                                       Oil palm
                                                       plantation and
                                                       processing
     PT Bulungan Hijau Perkasa     Kalimantan Utara    Perkebunan                   2008       95,00%        95,00%        832.827.535.230       979.222.546.947
        (BHP)                                          dan pengelohan
                                                       kelapa sawit/
                                                       Oil palm
                                                       plantation and
                                                       processing
     PT Riau Agung Karya Abadi      Riau               Perkebunan                   2002       95,00%        95,00%        221.089.558.590       276.055.186.947
        (RAKA)                                         Kelapa Sawit/
                                                       Oil palm
                                                       plantation

     Dimiliki langsung oleh PT Karangjuang Hijaulestari//
     Held directly by PT Karangjuang Hijaulestari

     PT Fajar Niaga Berjaya        Jakarta             Perdagangan/                  2023       99,99%       99,99%          9.216.099.069        24.913.852.561
        (FNB)                                          Trading




                                                                               12
Page 16
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

 PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
 CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
 KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
 Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)



1.   UMUM (lanjutan)                                            1.        GENERAL (continued)

      d.   Entitas Anak (lanjutan)                                   d.     Consolidated Subsidiaries (continued)
           PT Borneo      Bhakti     Sejahtera   (“BBS”)                    PT Borneo Bhakti Sejahtera (“BBS”) ( continued )
           (lanjutan )

           BBS didirikan berdasarkan Akta Notaris No. 26                   BBS was established based on Notarial Deed No. 26
           tanggal 12 Februari 1999 dari Notaris Chufran                   dated February 12, 1999 of Notary Chufran Haman,
           Hamal, S.H. Akta pendirian BBS telah disahkan                   S.H. The BBS’ deed of establishment was approved
           oleh Menteri Hukum dan Perundang-undangan                       by the Minister of Law and Legislation of the Republic
           Republik Indonesia dalam Surat Keputusan                        of Indonesia in his Decision Letter No. C-8479
           No. C-8479 HT.01.01.Th.2000 tanggal 12 April                    HT.01.01.Th.2000 dated April 12, 2000.
           2000.

           Anggaran Dasar BBS telah mengalami                              The BBS’s Articles of Association had been amended
           beberapa kali perubahan, terakhir dalam Akta                    several times, most recently in Notarial Deed No. 13
           Notaris No. 13 tanggal 17 September 2021 dari                   dated September 17, 2021 by Notary Muslim, S.H.,
           Notaris Muslim, S.H., M.Kn., terkait dengan                     M.Kn., regarding the changes in BBS’ location and
           perubahan tempat dan kedudukan BBS.                             domicile.
           Perubahan ini telah mendapat persetujuan dari                   The amendment had been agreed by the Minister of
           Menteri Hukum       dan Hak Asasi Manusia                       Law and Human Rights of the Republic of Indonesia
           Republik Indonesia dalam Surat Keputusan                        in Decision Letter No. AHU-0050880.AH.01.02.Tahun
           No.    AHU-0050880.AH.01.02.Tahun       2021                    2021 dated September 20, 2021.
           tanggal 20 September 2021
                                                                           BBS obtained a Certificate of Land Cultivation Rights
           BBS telah memperoleh Sertifikat Hak Guna
                                                                           (“LCR”) No. 71, 72, 73, and 74 dated March 5, 2014
           Usaha (“HGU”) No. 71, 72, 73, dan 74 pada
                                                                           from National Land Agency of the Republic of
           tanggal 5 Maret 2014 dari Badan Pertanahan
                                                                           Indonesia for a total area of 18,367.44 Ha in Long
           Nasional Republik Indonesia untuk areal total
                                                                           Bagun District, Kutai Barat Regency, East Kalimantan
           seluas 18.367,44 Ha di Kecamatan Long
                                                                           Province, valid until January 29, 2049. These LCR
           Bagun, Kabupaten Kutai Barat, Provinsi
           Kalimantan Timur yang akan berakhir pada                        certificates are in accordance with Decision Letter No.
           tanggal 29 Januari 2049. Sertifikat HGU ini                     27/HGU/BPN RI/2014 dated January 29, 2014. LCR
           sesuai dengan Surat Keputusan No.                               certificates of BBS are used as collateral for bank
           27/HGU/BPN RI/2014 tanggal 29 Januari 2014.                     loans (Note 20).
           Sertifikat HGU milik BBS dijadikan sebagai
           jaminan utang bank (Catatan 20).




                                                           13
Page 17
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

 PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
 CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
 KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
 Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                              1.   GENERAL (continued)
      d. Entitas Anak (lanjutan)                                        d. Consolidated Subsidiaries (continued)

          PT Marsam Citra Adiperkasa (“MCA”)                                 PT Marsam Citra Adiperkasa (“MCA”)

          MCA didirikan berdasarkan Akta Notaris                              MCA was established based on Notarial Deed
          No. 3 tanggal 23 Desember 1998 dari Notaris                         No. 3 dated December 23, 1998 of Notary Lies
          Lies Hermaningsih, S.H. Akta pendirian MCA                          Hermaningsih, S.H. The MCA’s deed of
          telah disahkan oleh Menteri Hukum dan                               establishment was approved by the Minister of
          Perundang-undangan Republik Indonesia                               Law and Legislation of the Republic of
          dalam    Surat   Keputusan    No.    C-7491                         Indonesia in his Decision Letter No. C-7491
          HT.01.01.Th.2000 tanggal 28 Maret 2000.                             HT.01.01.Th.2000 dated March 28, 2000.

          Anggaran Dasar MCA telah mengalami                                  The MCA’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam Akta                        amended several times, most recently in
          Notaris No. 26 tanggal 29 September 2021 dari                       Notarial Deed No. 26 dated September 29,
          Notaris   Muslim,     S.H.,   M.Kn.,   terkait                      2021 by Notary Muslim, S.H., M.Kn., regarding
          peningkatan modal dasar dan modal                                   the increase in authorized capital and issued
          ditempatkan dan disetor, dan perubahan                              and paid-up capital, and composition changes
          susunan direksi dan komisaris. Perubahan ini                        of director and commisioner. The amendment
          telah mendapat persetujuan dari Menteri                             had been agreed by the Minister of Law and
          Hukum dan Hak Asasi Manusia Republik                                Human Rights of the Republic of Indonesia in
          Indonesia dalam Surat Keputusan No. AHU-                            Decision        Letter       No.        AHU-
          0053396.AH.01.02.Tahun 2021 tanggal 30                              0053396.AH.01.02.Tahun        2021      dated
          September 2021.                                                     December 31, 2021

          MCA telah memperoleh Sertifikat Hak Guna                            MCA obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 75, 76, 77, 78, 79, dan 80                        Rights (“LCR”) No. 75, 76, 77, 78, 79, and 80
          pada tanggal 4 Juli 2014 dari             Badan                     dated July 4, 2014 from National Land Agency
          Pertanahan Nasional Republik Indonesia untuk                        of the Republic of Indonesia for a total area of
          areal      total     seluas     6.395,42      Ha                    6,395.42 Ha in Long Bagun and Laham
          di Kecamatan Long Bagun dan Laham,                                  Sub      district, Kutai    Barat     Regency,
          Kabupaten Kutai Barat, Provinsi Kalimantan                          East     Kalimantan    Province    valid    until
          Timur yang akan berakhir pada tanggal 2 April                       April 2, 2049. These LCR certificates are in
          2049. Sertifikat HGU ini sesuai dengan Surat                        accordance with Decision          Letter     No.
          Keputusan No. 70/HGU/BPN RI/2014 tanggal                            70/HGU/BPN RI/2014 dated April 2, 2014. LCR
          2 April 2014. Sertifikat HGU milik MCA dijadikan                    certificates of MCA are used as collateral for
          sebagai          jaminan      utang        bank                     bank loans (Note 20).
          (Catatan 20).




                                                             14
Page 18
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

 PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
 CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
 KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
 Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)



1.   UMUM (lanjutan)                                             1.   GENERAL (continued)

      d.   Entitas Anak (lanjutan)                                     d. Consolidated Subsidiaries (continued)
           PT Marsam      Citra   Adiperkasa    (“MCA”)                      PT Marsam            Citra     Adiperkasa         (“MCA”)
           (lanjutan)                                                        (continued)
           MCA telah memperoleh Sertifikat Hak Guna                          MCA obtained a Certificate of Land Cultivation
           Usaha (“HGU”) No. 65, 66, 67, 68, 69, dan 70                      Rights (“LCR”) No. 65, 66, 67, 68, 69, and 70
           pada tanggal 13 Januari 2014 dari Badan                           dated January 13, 2014 from National Land
           Pertanahan Nasional Republik Indonesia untuk                      Agency of the Republic of Indonesia for a total
           areal total seluas 2.598,20 Ha di Kecamatan                       area of 2,598.20 Ha in Long Hubung and
           Long Hubung dan Laham, Kabupaten Kutai                            Laham Sub district, Kutai Barat Regency,
           Barat, Provinsi Kalimantan Timur yang akan                        East Kalimantan Province, valid until
           berakhir pada tanggal 13 Januari 2049.                            January 13, 2049. These LCR certificates are in
           Sertifikat HGU ini sesuai dengan Surat                            accordance with Decision         Letter    No.
           Keputusan No. 02/HGU/BPN RI/2014 tanggal                          02/HGU/BPN RI/2014 dated January 13, 2014.
           13 Januari 2014. Sertifikat HGU milik                             LCR certificates of MCA are used as collateral
           MCA dijadikan sebagai jaminan utang bank                          for bank loans (Note 20).
           (Catatan 20).
                                                                             MCA obtained a Certificate of Land Cultivation
           MCA telah memperoleh Sertifikat Hak Guna                          Rights (“LCR”) No. 56, 57, 58, 59, 60, 61, 62,
           Usaha (“HGU”) No. 56, 57, 58, 59, 60, 61, 62,                     63, and 64 dated January 20, 2014 from
           63, dan 64 pada tanggal 20 Januari 2014 dari                      National Land Agency of the Republic of
           Badan     Pertanahan     Nasional     Republik                    Indonesia for a total area of 7,051.7 Ha in Long
           Indonesia untuk areal total seluas 7.051,7 Ha                     Iram and Tering Sub district, Kutai Barat
           di Kecamatan Long Iram dan Tering,                                Regency, East Kalimantan Province, valid until
           Kabupaten Kutai Barat, Provinsi Kalimantan                        January 20, 2049. These LCR certificates are in
           Timur yang akan berakhir pada tanggal                             accordance        with      Decision       Letter
           20 Januari 2049. Sertifikat HGU ini                               No.      14/HGU/BPN           RI/2014      dated
           sesuai     dengan        Surat     Keputusan                      January 20, 2014. LCR certificates of MCA are
           No.     14/HGU/BPN        RI/2014      tanggal                    used as collateral for bank loans (Note 20).
           20 Januari 2014. Sertifikat HGU milik
           MCA dijadikan sebagai jaminan utang bank
           (Catatan 20).


           PT Setia Agro Utama (“SAU”)                                       PT Setia Agro Utama (“SAU”)
           SAU didirikan berdasarkan Akta Notaris                            SAU was established based on Notarial Deed
           No. 1 tanggal 4 Oktober 2011 dari Notaris                         No. 1 dated October 4, 2011 of Notary
           Ira Widyasari Juwono, S.H. Akta pendirian SAU                     Ira Widyasari Juwono, S.H. The SAU’s deed of
           telah   disahkan     oleh   Menteri    Hukum                      establishment was approved by the Minister of
           dan     Hak     Asasi     Manusia    Republik                     Law and Human Rights of the Republic of
           Indonesia      dalam      Surat    Keputusan                      Indonesia     in   his     Decision    Letter
           No. AHU-53953.AH.01.01.Tahun 2011 tanggal                         No. AHU-53953.AH.01.01.Tahun 2011 dated
           4 November 2011.                                                  November 4, 2011.
           Anggaran Dasar SAU telah mengalami                                The SAU’s Articles of Association had been
           beberapa kali perubahan, terakhir dalam Akta                      amended several times, most recently
           Notaris No. 19 tanggal 17 September 2021 dari                     in    Notarial    Deed    No.     19    dated
           Notaris       Muslim,       S.H.,      M.Kn.,                     September       17,    2021      by    Notary
           terkait dengan perubahan tempat dan                               Muslim, S.H., M.Kn., regarding the changes in
           kedudukan SAU. Perubahan ini telah                                SAU’s        location      and       domicile.
           mendapat persetujuan dari Menteri Hukum                           The amendment had been agreed by the
           dan     Hak     Asasi    Manusia     Republik                     Minister of Law and Human Rights of the
           Indonesia      dalam      Surat    Keputusan                      Republic of Indonesia in Decision Letter
           No.    AHU-0050920.AH.01.02.Tahun       2021                      No. AHU-0050920.AH.01.02.Tahun 2021 dated
           tanggal 20 September 2021.                                        September 20, 2021.
           SAU belum memiliki Sertifikat Hak Guna Usaha                      SAU does not have Certificate of Land
           (“HGU”) sampai dengan tanggal penyelesaian                        Cultivation Rights (“LCR”) yet until the date of
           laporan keuangan konsolidasian.                                   issuance consolidated financial statements.



                                                            15
Page 19
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)



1.   UMUM (lanjutan)                                             1.    GENERAL (continued)

     d.   Entitas Anak (lanjutan)                                      d.    Consolidated Subsidiaries (continued)

          PT Ketapang Hijau Lestari (“KPL”)                                  PT Ketapang Hijau Lestari (“KPL”)

          KPL didirikan berdasarkan Akta Notaris No. 42                      KPL was established based on Notarial Deed
          tanggal    22    Juni  2006    dari   Notaris                      No. 42 dated September 22, 2006 of Notary
          Jhonni M. Sianturi, S.H. Akta pendirian KPL                        Jhonni M. Sianturi, S.H. The Deed of
          telah mengalami perubahan dalam Akta Notaris                       Incorporation of KPL was amendment on
          No. 35 tanggal 15 Agustus 2008 dari Notaris                        Notarial Deed No. 35 dated August 15, 2008 of
          Linggo Darsono, S.H. Akta pendirian KPL dan                        Notary Linggo Darsono, S.H. The KPL’s Deed
          perubahannya telah disahkan oleh Menteri                           of Incorporation and its amendment approved
          Hukum dan Hak Asasi Manusia Republik                               by the Minister of Law and Human Rights of the
          Indonesia      dalam    Surat      Keputusan                       Republic of Indonesia in his Decision Letter
          No. AHU-74269.AH.01.01.Tahun 2008 tanggal                          No. AHU-74269.AH.01.01.Tahun 2008 dated
          15 Oktober 2008 dan diumumkan dalam Berita                         October 15, 2008 and published in the State
          Negara Republik Indonesia No. 10 tanggal                           Gazette of the Republic of Indonesia
          3 Februari 2009, Tambahan No. 3024.                                No. 10 dated February 3, 2009, Supplementary
                                                                             No. 3024.
          Anggaran Dasar KPL telah mengalami
          beberapa kali perubahan, terakhir dalam Akta                       KPL’s Articles of Association had been
          Notaris No. 17 tanggal 17 September 2021 dari                      amended several times, most recently
          Notaris       Muslim,       S.H.,      M.Kn.,                      in    Notarial    Deed    No.     17    dated
          terkait dengan perubahan tempat dan                                September       17,    2021      by    Notary
          kedudukan KPL. Perubahan ini telah                                 Muslim, S.H., M.Kn., regarding the changes in
          mendapat persetujuan dari Menteri Hukum                            KPL’s        location     and        domicile.
          dan     Hak     Asasi    Manusia     Republik                      The amendment had been agreed by the
          Indonesia      dalam      Surat    Keputusan                       Minister of Law and Human Rights of the
          No.    AHU-0050912.AH.01.02.Tahun       2021                       Republic of Indonesia in Decision Letter
          tanggal 20 September 2021.                                         No. AHU-0050912.AH.01.02.Tahun 2021 dated
                                                                             September 20, 2021.

          KPL telah memperoleh Sertifikat Hak Guna                           KPL obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 196, 197, 198, 199, 200,                         Rights (“LCR”) No. 196, 197, 198, 199, 200,
          201, 202, 203, dan 204 tanggal 10 Maret 2017                       201, 202, 203, and 204 dated March 10, 2017
          dari Badan Pertanahan Nasional Republik                            from National Land Agency of the Republic of
          Indonesia     untuk    areal   total   seluas                      Indonesia for a total area of 10,564.41 Ha in
          10.564,41 Ha di Kecamatan Damai, Kabupaten                         Damai Sub district, Kutai Barat Regency,
          Kutai              Barat,             Provinsi                     East Kalimantan Province, valid until
          Kalimantan Timur yang akan berakhir pada                           March 9, 2052. These LCR certificates are in
          tanggal 9 Maret 2052. Sertifikat HGU                               accordance        with      Decision      Letter
          ini   sesuai    dengan     Surat    Keputusan                      No.    32/HGU/KEM-ATR/BPN/2017            dated
          No. 32/HGU/KEM-ATR/BPN/2017 tanggal                                March 10, 2017. LCR certificates of KPL are
          10 Maret 2017. Sertifikat HGU milik                                used as collateral for bank loans (Note 20).
          KPL dijadikan sebagai jaminan utang bank
          (Catatan 20).

          KPL telah memperoleh Sertifikat Hak Guna                           KPL obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 205, 206, 207, 208, 209,                         Rights (“LCR”) No. 205, 206, 207, 208, 209,
          210, 211, 212, 213, 214, 215, dan 216 pada                         210, 211, 212, 213, 214, 215, and 216 dated
          tanggal 10 Maret 2017 dari Badan Pertanahan                        March 10, 2017 from National Land Agency of
          Nasional Republik Indonesia untuk areal total                      the Republic of Indonesia for a total area of
          seluas 3.600,91 Ha di Kecamatan Mook                               3,600.91 Ha in Mook Manaar Bulatn District,
          Manaar Bulatn, Kabupaten Kutai Barat, Provinsi                     Kutai Barat Regency, East Kalimantan
          Kalimantan Timur yang akan berakhir pada                           Province, valid until March 9, 2052. These LCR
          tanggal 9 Maret 2052. Sertifikat HGU ini sesuai                    certificates are in accordance with Decision
          dengan Surat Keputusan No. 33/HGU/KEM-                             Letter No. 33/HGU/KEM-ATR/BPN/2017 dated
          ATR/BPN/2017 tanggal 10 Maret 2017.                                March 10, 2017. LCR certificates of KPL are
          Sertifikat HGU milik KPL dijadikan sebagai                         used as collateral for bank loans (Note 20).
          jaminan utang bank (Catatan 20).

                                                            16
Page 20
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)



1.   UMUM (lanjutan)                                             1.    GENERAL (continued)

     d.   Entitas Anak (lanjutan)                                      d.    Consolidated Subsidiaries (continued)

          PT Karangjuang Hijaulestari (“KHL”)                                PT Karangjuang Hijaulestari (“KHL”)

          KHL didirikan berdasarkan Akta Notaris No. 53                      KHL was established based on Notarial Deed
          tanggal    31    Juli  1991    dari   Notaris                      No. 53 dated July 31, 1991 of Notary
          Bambang Soemito, S.H. Akta pendirian KHL                           Bambang Soemito, S.H. The KHL’s deed of
          telah disahkan oleh Menteri Kehakiman                              establishment was approved by the Minister of
          Republik Indonesia dalam Surat Keputusan No.                       Justice of the Republic of Indonesia in his
          C2-12.285.HT.01.01.TH.94 tanggal 12 Agustus                        Decision Letter No. C2-12.285.HT.01.01.TH.94
          1994.                                                              dated August 12, 1994.

          Anggaran Dasar KHL telah mengalami                                 The KHL’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam Akta                       amended several times, most recently
          Notaris No. 23 tanggal 27 Mei 2022 dari Notaris                    in    Notarial    Deed    No.     23    dated
          Muslim,    S.H.,   M.Kn.,     terkait  dengan                      May        27,       2022      by      Notary
          pengurangan dan/atau penurunan modal dasar                         Muslim, S.H., M.Kn., regarding the changes in
          dan ditempatkan dan disetor. Perubahan ini                         KHL’s        location     and        domicile.
          telah mendapat persetujuan dari Menteri                            The amendment had been agreed by the
          Hukum dan Hak Asasi Manusia Republik                               Minister of Law and Human Rights of the
          Indonesia dalam Surat Keputusan No. AHU-                           Republic of Indonesia in Decision Letter
          0053768.AH.01.02.Tahun 2022 tanggal 30 Juli                        No. AHU-0053768.AH.01.02.Tahun 2022 dated
          2022.                                                              Juli 30, 2022.

          KHL telah memperoleh Sertifikat Hak                                KHL obtained a Certificate of Land Cultivation
          Guna Usaha (“HGU”) No. 1 pada tanggal                              Rights (“LCR”) No. 1 dated November 1, 2004
          1 November 2004 dari Badan Pertanahan                              from National Land Agency of the Republic of
          Nasional Republik Indonesia untuk areal seluas                     Indonesia for 20,000 Ha in Sebuku District,
          20.000         Ha       yang         berlokasi                     Nunukan Regency, North Kalimantan Province,
          di Kecamatan Sebuku, Kabupaten Nunukan,                            valid     until      October      29,     2039.
          Provinsi Kalimantan Utara yang akan berakhir                       This LCR certificate is in accordance with
          pada      tanggal    29     Oktober      2039.                     Decision Letter No. 85/HGU/BPN/2004 dated
          Sertifikat HGU ini sesuai dengan Surat                             October 13, 2004. LCR certificate of KHL is
          Keputusan No. 85/HGU/BPN/2004 tanggal                              used as collateral for bank loans (Note 20).
          13 Oktober 2004. Sertifikat HGU milik
          KHL dijadikan sebagai jaminan utang bank
          (Catatan 20).

          PT Bhumi Simanggaris Indah (“BSI”)                                 PT Bhumi Simanggaris Indah (“BSI”)

          BSI didirikan berdasarkan Akta Notaris                             BSI was established based on Notarial Deed
          No. 1 tanggal 8 Oktober 1998 dari Notaris                          No. 1 dated October 8, 1998 of Notary
          Imelda Febriani Papeo, S.H. Akta pendirian BSI                     Imelda Febriani Papeo, S.H. The BSI’s deed of
          telah disahkan oleh Menteri Hukum dan                              establishment was approved by the Minister of
          Perundang-undangan Republik Indonesia                              Law and Legislation of the Republic of
          dalam             Surat            Keputusan                       Indonesia      in  his     Decision    Letter
          No.    C-8634    HT.01.01.Th.2000      tanggal                     No.     C-8634    HT.01.01.Th.2000      dated
          13 April 2000.                                                     April 13, 2000.

          Anggaran Dasar BSI telah mengalami                                 The BSI’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam Akta                       amended several times, most recently
          Notaris No. 15 tanggal 17 September 2021 dari                      in    Notarial    Deed    No.     15    dated
          Notaris       Muslim,       S.H.,      M.Kn.,                      September      17,     2021      by    Notary
          terkait dengan perubahan tempat dan                                Muslim, S.H., M.Kn., regarding the changes in
          kedudukan     BSI.    Perubahan    ini  telah                      BSI’s       location      and        domicile.
          mendapat persetujuan dari Menteri Hukum                            The amendment had been agreed by the
          dan     Hak     Asasi    Manusia     Republik                      Minister of Law and Human Rights of the
          Indonesia      dalam      Surat    Keputusan                       Republic of Indonesia in Decision Letter
          No.    AHU-0050901.AH.01.02.Tahun       2021                       No. AHU-0050901.AH.01.02.Tahun 2021 dated
          tanggal 20 September 2021.                                         September 20, 2021.
                                                            17
Page 21
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                             1.    GENERAL (continued)

     d.   Entitas Anak (lanjutan)                                      d.    Consolidated Subsidiaries (continued)

          PT Bhumi      Simanggaris     Indah    (“BSI”)                     PT Bhumi           Simanggaris          Indah       (“BSI”)
          (lanjutan)                                                         (continued)

          BSI telah memperoleh Sertifikat Hak Guna                           BSI obtained a Certificate of Land
          Usaha (“HGU”) No. 2 pada tanggal                                   Cultivation Rights (“LCR”) No. 2 dated
          25 September 2003 dari Badan Pertanahan                            September 25, 2003 from National Land
          Nasional Republik Indonesia untuk areal seluas                     Agency of the Republic of Indonesia
          13.404 Ha yang berlokasi di Kecamatan                              for 13,404 Ha in Nunukan Sub district, Nunukan
          Nunukan, Kabupaten Nunukan, Provinsi                               Regency, North Kalimantan Province, valid until
          Kalimantan Utara, dan berakhir pada tanggal 18                     September                 18,             2038.
          September 2038. Sertifikat HGU ini sesuai                          This LCR certificate is in accordance with
          dengan             Surat           Keputusan                       Decision Letter No. 46/HGU/BPN/2003 dated
          No.46/HGU/BPN/2003 tanggal 25 Agustus                              August 25, 2003. LCR certificate of BSI is used
          2003. Sertifikat HGU milik BSI dijadikan                           as collateral for bank loans (Note 20).
          sebagai jaminan utang bank (Catatan 20).

          PT Tirta Madu Sawit Jaya (“TMSJ”)                                  PT Tirta Madu Sawit Jaya (“TMSJ”)

          TMSJ didirikan berdasarkan Akta Notaris                            TMSJ was established based on Notarial Deed
          No. 2 tanggal 18 Mei 1999 dari Notaris                             No. 2 dated May 18, 1999 of Notary
          Ira Widyasari Juwono, S.H. Akta pendirian                          Ira Widyasari Juwono, S.H. The TMSJ’s deed of
          TMSJ telah disahkan oleh Menteri Hukum dan                         establishment was approved by the Minister of
          Perundang-undangan Republik Indonesia                              Law and Legislation of the Republic of
          dalam             Surat            Keputusan                       Indonesia      in  his      Decision   Letter
          No.   C-2701      HT.01.01.TH.2000    tanggal                      No.     C-2701    HT.01.01.TH.2000     dated
          17 Februari 2000.                                                  February 17, 2000.

          Anggaran Dasar TMSJ telah mengalami                                The TMSJ’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam                            amended several times, most recently in
          Akta Notaris No. 5 tanggal 7 Oktober 2022 dari                     Notarial Deed No. 5 dated October 7, 2022 by
          Notaris   Muslim,     S.H.,   M.Kn.,    terkait                    Notary Muslim, S.H., M.Kn.,regarding the
          pengurangan dan/atau penurunan modal dasar                         reduction and/or decrease in authorized capital
          dan modal ditempatkan dan disetor Perubahan                        issued and paid-up capital. The amendment
          ini telah mendapat persetujuan dari Menteri                        had been approved by the Minister of
          Hukum dan Hak Asasi Manusia Republik                               Law      and    Human      Rights    of    the
          Indonesia     dalam      Surat     Keputusan                       Republic of Indonesia in Decision Letter
          No.     AHU-0089961.AH.01.02.Tahun       2022                      No. AHU-0089961.AH.01.02.Tahun 2022 dated
          tanggal 22 Oktober 2022.                                           October 22, 2022.

          TMSJ telah memperoleh Sertifikat Hak Guna                          TMSJ obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 1 pada tanggal                                   Rights (“LCR”) No. 1 dated November 1, 2004
          1 November 2004 dari Badan Pertanahan                              from National Land Agency of the Republic of
          Nasional Republik Indonesia untuk areal seluas                     Indonesia for 7,982.18 Ha in Nunukan District,
          7.982,18 Ha yang berlokasi di Kecamatan                            Nunukan Regency, North Kalimantan Province,
          Nunukan, Kabupaten Nunukan, Provinsi                               valid     until      October      29,     2039.
          Kalimantan Utara, dan akan berakhir pada                           This LCR certificate is in accordance with
          tanggal 29 Oktober 2039. Sertifikat HGU ini                        Decision Letter No. 84/HGU/BPN/2004 dated
          sesuai     dengan       Surat      Keputusan                       October 13, 2004. LCR certificate of TMSJ is
          No. 84/HGU/BPN/2004 tanggal 13 Oktober                             used as collateral for bank loans (Note 20).
          2004. Sertifikat HGU milik TMSJ dijadikan
          sebagai jaminan utang bank (Catatan 20).




                                                            18
Page 22
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                            1.    GENERAL (continued)

     d.   Entitas Anak (lanjutan)                                     d.    Consolidated Subsidiaries (continued)

          PT Bulungan Hijau Perkasa (“BHP”)                                 PT Bulungan Hijau Perkasa (“BHP”)

          BHP didirikan berdasarkan Akta Notaris No. 3                      BHP was established based on Notarial Deed
          tanggal 29 April 1999 dari Notaris                                No. 3 dated April 29, 1999 of Notary
          Ira Widyasari Juwono, S.H. Akta pendirian BHP                     Ira Widyasari Juwono, S.H. The BHP’s deed of
          telah disahkan oleh Menteri Hukum dan                             establishment was approved by the Minister of
          Perundang-undangan Republik Indonesia                             Law and Legislation of the Republic of
          dalam             Surat            Keputusan                      Indonesia     in   his     Decision    Letter
          No. C-17929 HT.01.01.Th.2000 tanggal                              No.     C-17929   HT.01.01.Th.2000     dated
          16 Agustus 2000 dan diumumkan dalam Berita                        August 16, 2000 and published in the State
          Negara Republik Indonesia No. 63 tanggal                          Gazette of the Republic of Indonesia No. 63
          9 Agustus 2005, Tambahan No. 8423.                                dated August 9, 2005, Supplementary
                                                                            No. 8423.

          Anggaran Dasar BHP telah mengalami                                The BHP’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam Akta                      amended several times, most recently
          Notaris No. 14 tanggal 17 September 2021 dari                     in    Notarial    Deed    No.     14    dated
          Notaris       Muslim,       S.H.,      M.Kn.,                     September       17,    2021      by    Notary
          terkait dengan perubahan tempat dan                               Muslim, S.H., M.Kn., regarding the changes in
          kedudukan BHP. Perubahan ini telah                                BHP’s        location      and       domicile.
          mendapat persetujuan dari Menteri Hukum                           The amendment had been agreed by the
          dan     Hak     Asasi    Manusia     Republik                     Minister of Law and Human Rights of the
          Indonesia      dalam      Surat    Keputusan                      Republic of Indonesia in Decision Letter
          No.    AHU-0050888.AH.01.02.Tahun       2021                      No.    AHU-0050888.AH.01.02.Tahun        2021
          tanggal 20 September 2021.                                        dated September 20, 2021.

          BHP telah memperoleh Sertifikat Hak Guna                          BHP obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 1 pada tanggal                                  Rights (“LCR”) No. 1 dated November 1, 2004
          1 November 2004 dari Badan Pertanahan                             from National Land Agency of the Republic of
          Nasional Republik Indonesia untuk areal seluas                    Indonesia for 6,061 Ha in Sebuku Sub district,
          6.061 Ha yang berlokasi di Kecamatan Sebuku,                      Nunukan Regency, North Kalimantan Province,
          Kabupaten                           Nunukan,                      valid until October 29, 2039. This LCR
          Provinsi Kalimantan Utara, dan berakhir pada                      certificate is in accordance with Decision Letter
          tanggal 29 Oktober 2039. Sertifikat HGU ini                       No.             83/HGU/BPN/2004            dated
          sesuai      dengan       Surat     Keputusan                      October 13, 2004. LCR certificate of BHP is
          No. 83/HGU/BPN/2004 tanggal 13 Oktober                            used as collateral for bank loans (Note 20).
          2004. Sertifikat HGU milik BHP dijadikan
          sebagai jaminan utang bank (Catatan 20).

          BHP telah memperoleh Sertifikat Hak Guna                          BHP obtained a Certificate of Land Cultivation
          Usaha (“HGU”) No. 45, 46, 47, 48, 49, 50, 51,                     Rights (“LCR”) No. 45, 46, 47, 48, 49, 50, 51,
          dan 52 pada tanggal 21 Mei 2019 dari                              and 52 dated May 21, 2019 from National Land
          Badan     Pertanahan    Nasional      Republik                    Agency of the Republic of Indonesia for
          Indonesia untuk areal seluas 2.158,57 Ha                          2,158.57 Ha in Sebuku District, Nunukan
          di Kecamatan Sebuku, Kabupaten Nunukan,                           Regency,       North     Kalimantan    Province,
          Provinsi Kalimantan Utara yang akan berakhir                      valid until April 22, 2054. These LCR certificates
          pada tanggal 22 April 2054. Sertifikat HGU ini                    are in accordance with Decision Letter No.
          sesuai      dengan      Surat       Keputusan                     29/HGU/KEM-ATR/BPN/IV/2019 dated April
          No. 29/HGU/KEM-ATR/BPN/IV/2019 tanggal                            22, 2019. LCR certificates of BHP are used as
          22 April 2019. Sertifikat HGU milik                               collateral for bank loans (Note 20).
          BHP dijadikan sebagai jaminan utang bank
          (Catatan 20).




                                                           19
Page 23
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                             1.    GENERAL (continued)

     d.   Entitas Anak (lanjutan)                                      d.    Consolidated Subsidiaries (continued)

          PT Riau Agung Karya Abadi (“RAKA”)                                 PT Riau Agung Karya Abadi (“RAKA”)

          RAKA didirikan berdasarkan Akta Notaris                            RAKA was established based on Notarial Deed
          No. 58 tanggal 10 Juli 2001 dari Notaris                           No. 58 dated July 10, 2001 of Notary
          Tajib Rahardjo, S.H. Akta pendirian RAKA telah                     Tajib Rahardjo, S.H. The RAKA’s deed of
          disahkan      oleh     Menteri      Kehakiman                      establishment was approved by the Minister of
          dan Hak Asasi Manusia Republik Indonesia                           Justice and Human Rights of the Republic of
          dalam              Surat            Keputusan                      Indonesia     in   his    Decision     Letter
          No. C-07209 HT.01.01.TH.2001 tanggal                               No.     C-07209   HT.01.01.TH.2001     dated
          3 September 2001.                                                  September 3, 2001.

          Anggaran Dasar RAKA telah mengalami                                The RAKA’s Articles of Association had been
          beberapa kali perubahan, terakhir dalam Akta                       amended several times, most recently
          Notaris No. 4 tanggal 20 November 2023 dari                        in    Notarial    Deed     No.     4    dated
          Notaris Yandi Brata Sakti, S.H., M.Kn., terkait                    November       20,     2023     by     Notary
          perubahan tempat kedudukan dan alamat.                             Yandi Brata Sakti, S.H., M.Kn., regarding the
          Perubahan ini telah diterima dan dicatat oleh                      related to change of domicile and change of
          Menteri Hukum dan Hak Asasi Manusia                                address. The amendment had been accepted
          Republik Indonesia dalam Surat Keputusan No.                       and recorderd by The Minister of Law and
          AHU-0234890.AH.01.11.Tahun 2023 tanggal                            Human Rights of the Republic of Indonesia in
          21 November 2023.                                                  Decision        Letter       No.        AHU-
                                                                             0234890.AH.01.11.Tahun        2023      dated
                                                                             November 21, 2023.

          RAKA telah memperoleh Sertifikat Hak Guna                          RAKA      obtained        a    Certificate     of
          Usaha (“HGU”) No. 10018 pada tanggal                               Land      Cultivation       Rights       (“LCR”)
          28 Oktober 2021 dari Badan Pertanahan                              No. 10018 dated October 28, 2021 from
          Nasional Republik Indonesia untuk areal seluas                     National Land Agency of the Republic of
          3.293,6 Ha di Kecamatan Tapung Hulu, Tapung                        Indonesia for 3,293.6 Ha in Tapung Hulu,
          Hilir, Kabupaten Kampar, Provinsi Riau, yang                       Tapung Hilir District, Kampar Regency,
          akan        berakhir      pada        tanggal                      Riau Province, valid until August 26, 2056. This
          26 Agustus 2056. Sertifikat HGU ini                                LCR           certificate          is          in
          sesuai      dengan      Surat      Keputusan                       accordance       with       Decision       Letter
          No. 51/HGU/KEM-ATR/BPN/VIII/2021 tanggal                           No. 51/HGU-KEM-ATR/BPN/VIII/2021 dated
          26 Agustus 2021.                                                   August 26, 2021.

          PT Fajar Niaga Berjaya (“FNB”)                                     PT Fajar Niaga Berjaya (“FNB”)

          KHL mendirikan anak perusahaan, FNB, yang                          KHL established a subsidiary, FNB, which is
          bergerak di bidang perdagangan.                                    engaged in trading.

          FNB didirikan berdasarkan Akta Notaris                             FNB was established based on Notarial Deed
          No. 4 tanggal 8 November 2022 dari Notaris                         No. 4 dated November 8, 2022 of Notary
          Muslim, S.H., M.Kn., dan disahkan oleh Menteri                     Muslim, S.H., M.Kn., and was approved by the
          Kehakiman dan Hak Asasi Manusia Republik                           Minister of Justice and Human Rights of the
          Indonesia     dalam       Surat     Keputusan                      Republic of Indonesia in his Decision Letter
          No. AHU-0078212.AH.01.01.TAHUN 2022                                No. AHU-0078212.AH.01.01.TAHUN 2022
          tanggal 9 November 2022.                                           dated November 9, 2022.




                                                            20
Page 24
                                                                             The original consolidated financial statements included herein are in
                                                                                                                            Indonesian language.

PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                         FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                         As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                     (Expressed in Rupiah, unless otherwise stated)


1.   UMUM (lanjutan)                                                  1.      GENERAL (continued)

     e. Perkebunan plasma                                                      e. Plasma plantation

           Luas area perkebunan yang telah ditanam oleh                             The plantation areas that have been planted by
           Grup untuk kebun inti dan kebun pola kemitraan                           Group for core plantations and partnership
           sampai dengan 30 Juni 2024 sebagai berikut:                              plantations as of June 30, 2024 are as follows:
                                       Tanaman
                                         belum            Tanaman
                                     menghasilkan/      menghasilkan/
                                       Immature            Mature                     Jumlah/
                                      plantations        plantations                   Total
                                          (Ha)              (Ha)                        (Ha)

          Kebun inti                           865,26            77.500,69                 78.365,95                            Core plantations
          Kebun pola kemitraan                 203,00            10.183,22                 10.386,22                      Partnership plantations

          Jumlah                             1.068,26            87.683,91                 88.752,17                                       Total



     f.    Tanggung     Jawab Manajemen  dan                                 f.    Management Responsibility and Approval of
           Persetujuan atas Laporan Keuangan                                       Consolidated Financial Statements
           Konsolidasian
           Penyusunan dan penyajian wajar laporan                                   The preparation and fair presentation of the
           keuangan konsolidasian merupakan tanggung                                consolidated financial statements were the
           jawab manajemen, dan telah disetujui oleh                                responsibilities of the management, and were
           Dewan Direksi dan telah diotorisasi pada                                 approved by the Board of Directors on July 30,
           tanggal 30 Juli 2024.                                                    2024.


2.   PERNYATAAN    STANDAR     AKUNTANSI                              2.      NEW AND AMENDMENT OF STATEMENTS OF
     KEUANGAN YANG BARU DAN AMENDEMEN                                         FINANCIAL ACCOUNTING STANDARDS

     a.    Amandemen atas standar yang diadopsi                               a.    Amendement of standards adopted as at
           pada 1 Januari 2023                                                      January 1, 2023

           Dalam      tahun    berjalan,  Grup      telah                          In the current year, the Group has applied, a
           menerapkan, sejumlah amendemen atas                                     number of amendments to PSAK that are
           PSAK yang relevan dengan operasinya dan                                 relevant to its operations and effective for
           efektif untuk periode akuntansi yang dimulai                            accounting period beginning on or after
           pada atau setelah 1 Januari 2023, yaitu:                                January 1, 2023, are as follows:




                                                            21
Page 25
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


2.   PERNYATAAN   STANDAR    AKUNTANSI                         2.   NEW AND AMENDMENT OF STATEMENTS OF
     KEUANGAN YANG BARU DAN AMENDEMEN                               FINANCIAL   ACCOUNTING  STANDARDS
     (lanjutan)                                                     (continued)

     a.   Amandemen atas standar yang diadopsi                       a.       Amendement of standards adopted as at
          pada 1 Januari 2023 (lanjutan)                                      January 1, 2023 (continued)

          -   PSAK 1 (amendemen), Penyajian                               -     PSAK 1 (amendment), Presentation of
              Laporan      Keuangan        tentang                              Financial      Statements       regarding
              Pengungkapan Kebijakan Akuntansi                                  Disclosure of Accounting Policies

              Amendemen tersebut mengharuskan                                   The amendment requires to disclose
              untuk     mengungkapkan         informasi                         material accounting policy information
              kebijakan akuntansi material, bukan                               rather than significant accounting
              kebijakan akuntansi signifikan.                                   policies.

              Amendemen ini tidak mempunyai                                     This amendment has had no material
              pengaruh material atas pengungkapan                               impact on the disclosures or on the
              atau jumlah-jumlah yang diakui dalam                              amounts recognized in the consolidated
              laporan keuangan konsolidasian.                                   financial statements.

          -   PSAK 16 (amendemen), Aset Tetap                             -     PSAK 16 (amendment), Property, Plant
              tentang Hasil Sebelum Penggunaan yang                             and Equipment regarding Proceeds
              Diintensikan                                                      Before Intended Use

              Amendemen ini melarang pengurangan                                This amendment prohibits deducting from
              jumlah biaya perolehan aset tetap yang                            the cost of property, plant and equipment
              diterima dari penjualan barang-barang                             amounts received from selling items
              yang diproduksi ketika entitas sedang                             produced while the entity is preparing the
              mempersiapkan aset tersebut untuk                                 asset for its intended use. Instead, an
              digunakan sesuai tujuannya. Sebaliknya,                           entity will recognized such sales
              entitas mengakui hasil penjualan tersebut                         proceeds and related cost in profit or loss.
              dan biaya terkait dalam laba rugi.

              Amendemen ini tidak mempunyai                                     This amendment has had no material
              pengaruh material atas pengungkapan                               impact on the disclosures or on the
              atau jumlah-jumlah yang diakui dalam                              amounts recognized in the consolidated
              laporan keuangan konsolidasian.                                   financial statements.

          -   PSAK 25 (amendemen), Kebijakan                              -     PSAK 25 (amendment), Accounting
              Akuntansi, Perubahan Estimasi, dan                                Policies,   Changes     in   Accounting
              Kesalahan tentang Definisi Estimasi                               Estimates and Errors regarding Definition
              Akuntansi                                                         of Accounting Estimate

              Amandemen tersebut mengklarifikasi                                The amendment clarifies how reporting
              bagaimana      entitas  pelapor   harus                           entities should distinguish changes in
              membedakan       perubahan     kebijakan                          accounting policies from changes in
              akuntansi dari perubahan estimasi                                 accounting estimates. This distinction
              akuntansi. Perbedaan antara kedua jenis                           between these two types of changes is
              perubahan ini penting karena perubahan                            important as changes in accounting
              kebijakan akuntansi biasanya diterapkan                           policies     are     normally     applied
              secara retrospektif terhadap transaksi                            retrospectively to past transactions and
              dan peristiwa masa lalu, sedangkan                                events, whereas changes in accounting
              perubahan estimasi akuntansi diterapkan                           estimates are applied prospectively to
              secara prospektif terhadap transaksi dan                          future transactions and events.
              peristiwa di masa depan.

              Amendemen ini tidak mempunyai                                     This amendment has had no material
              pengaruh material atas pengungkapan                               impact on the disclosures or on the
              atau jumlah-jumlah yang diakui dalam                              amounts recognized in the consolidated
              laporan keuangan konsolidasian.                                   financial statements.


                                                          22
Page 26
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


2.   PERNYATAAN   STANDAR    AKUNTANSI                            2.   NEW AND AMENDMENT OF STATEMENTS OF
     KEUANGAN YANG BARU DAN AMENDEMEN                                  FINANCIAL   ACCOUNTING  STANDARDS
     (lanjutan)                                                        (continued)

     a.   Amandemen atas standar yang diadopsi                          a.       Amendement of standards adopted as at
          pada 1 Januari 2023 (lanjutan)                                         January 1, 2023 (continued)

          -   PSAK       46     (amendemen),       Pajak                     -     PSAK 46 (amendment), Income Taxes
              Penghasilan tentang Pajak Tangguhan                                  regarding Deferred Tax related to Assets
              terkait Aset dan Liabilitas yang timbul dari                         and Liabilities arising from a Single
              Transaksi Tunggal.                                                   Transaction.

              Amandemen tersebut mengharuskan                                      The amendment requires to recognized
              pengakuan pajak tangguhan atas                                       deferred tax on certain transactions that
              transaksi tertentu yang menimbulkan                                  give rise to equal amounts of taxable and
              perbedaan temporer kena pajak dan                                    deductible temporary differences on initial
              dapat dikurangkan dalam jumlah yang                                  recognition.
              sama pada pengakuan awal.

              Amendemen ini tidak mempunyai                                        This amendment has had no material
              pengaruh material atas pengungkapan                                  impact on the disclosures or on the
              atau jumlah-jumlah yang diakui dalam                                 amounts recognized in the consolidated
              laporan keuangan konsolidasian.                                      financial statements.

     b.   Standar baru dan amendemen yang belum                         b.       New and amendments of standards that are
          efektif berlaku dan belum diadopsi secara                              not yet effective and have not been adopted
          dini oleh Grup                                                         early by the Group

          Amendemen standar berikut efektif untuk                            The following amendments to standards are
          periode yang dimulai pada atau setelah                             effective for periods beginning on or after
          tanggal 1 Januari 2024, dengan penerapan                           January 1, 2024, with early application
          dini diperkenankan yaitu:                                          permitted is:

          -   PSAK 1 (amendemen), Penyajian                                  -     PSAK 1 (amendment), Presentation of
              Laporan Keuangan tentang Liabilitas                                  Financial Statements regarding Long
              Jangka Panjang dengan Kovenan                                        Term Liabilities with Covenant
          -   PSAK 73 (amendemen), Sewa tentang                              -     PSAK     73      (amendment),   Leases
              Liabilitas Sewa dalam Jual dan Sewa                                  regarding Lease Liability in a Sale and
              Balik                                                                Leaseback

          Standar baru dan amendmen berikut efektif                          New and amendment to standard are effective
          periode yang dimulai pada atau setelah                             for periods beginning on or after January 1,
          tanggal 1 Januari 2025 yaitu:                                      2025 is:

          -   PSAK 74, Kontrak Asuransi                                      -      PSAK 74, Insurance Contracts
          -   PSAK 74 (amendemen), Kontrak                                   -      PSAK 74 (amendments), Insurance
              Asuransi tentang Penerapan Awal PSAK                                  Contracts: Initial Application of PSAK 74
              74 dan PSAK 71 - Informasi Komparatif                                 and PSAK 71 - Comparative Information

          Sampai dengan tanggal penerbitan laporan                           As of the issuance date of the consolidated
          keuangan    konsolidasian, Grup     masih                          financial statements, the Group is still
          mempelajari dampak yang mungkin timbul                             evaluating the possible impact of the
          atas penerapan PSAK tersebut pada laporan                          implementation of these PSAKs to its
          keuangan konsolidasian.                                            consolidated financial statements.




                                                             23
Page 27
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL                                 3.   MATERIAL ACCOUNTING POLICIES

     Berikut ini adalah kebijakan akuntansi material yang               Presented below are the material accounting
     diterapkan dalam penyusunan laporan keuangan                       policies adopted in preparing the consolidated
     konsolidasian Grup. Kebijakan ini telah diaplikasikan              financial statements of the Group. These policies
     secara konsisten terhadap semua periode yang                       have been consistently applied to all of the periods
     disajikan, kecuali dinyatakan lain.                                presented, unless otherwise stated.

     a.   Pernyataan Kepatuhan                                          a.    Statement of Compliance

          Laporan keuangan konsolidasian disusun                             The consolidated financial statements have
          berdasarkan Standar Akuntansi Keuangan di                          been prepared in accordance with Indonesian
          Indonesia     (“SAK”),   yang     mencakup                         Financial Accounting Standards (“SAK”),
          Pernyataan dan Interprestasi yang diterbitkan                      which      comprise    the   Statement   and
          oleh Dewan Standar Akuntansi Keuangan                              Interpretations issued by the Financial
          (“DSAK”) Ikatan Akuntan Indonesia dan                              Accounting Standards Board (“DSAK”) of the
          Peraturan No. VIII.G.7 tentang “Pedoman                            Institute of Indonesian Chartered Accountants
          Penyajian    Laporan     Keuangan”      yang                       and                                Regulation
          diterbitkan oleh Otoritas Jasa Keuangan                            No. VIII.G.7 regarding “Financial Statements
          (“OJK”).                                                           Presentation Guidelines” issued by Financial
                                                                             Services Authority (“OJK”).

     b.   Dasar Penyusunan         Laporan    Keuangan                  b.    Basis for Preparation of The Consolidated
          Konsolidasian                                                       Financial Statements

          Laporan keuangan konsolidasian Grup disusun                         The Group’s consolidated financial statements
          berdasarkan basis akrual dan konsep biaya                           have been prepared on an accrual basis and
          historis, kecuali untuk instrumen keuangan                          under the historical cost convention except for
          yang diukur pada jumlah nilai revaluasian atau                      financial instruments measured at revalued
          nilai wajar pada akhir setiap periode pelaporan                     amounts or fair values at the end of each
          keuangan.                                                           reporting period.

          Biaya historis umumnya didasarkan pada nilai                        Historical cost is generally based on the fair
          wajar dari imbalan yang diberikan dalam                             value of the consideration given in exchange for
          pertukaran barang dan jasa.                                         goods and services.

          Nilai wajar adalah harga yang akan diterima                         Fair value is the price that would be received to
          untuk menjual suatu aset atau harga yang akan                       sell an asset or paid to transfer a liability in an
          dibayar untuk mengalihkan suatu liabilitas                          orderly transaction between market participants
          dalam suatu transaksi teratur antara pelaku                         at the measurement date.
          pasar pada tanggal pengukuran.

          Laporan arus kas konsolidasian disusun                              The consolidated statement of cash flows has
          menggunakan metode langsung dan arus kas                            been prepared based on the direct method, by
          dikelompokkan atas dasar aktivitas operasi,                         classifying cash flows on the basis of operating,
          investasi dan pendanaan.                                            investing and financing activities.

          Seluruh angka dalam laporan keuangan                                Figures in the consolidated financial statements
          konsolidasian ini, disajikan dalam Rupiah                           are stated in Rupiah (“Rp”), unless otherwise
          (“Rp”), kecuali dinyatakan lain.                                    specified.

          Penyusunan laporan keuangan konsolidasian                           The preparation of consolidated financial
          yang sesuai dengan Standar Akuntansi                                statements in conformity with Indonesian
          Keuangan      di    Indonesia   memerlukan                          Financial Accounting Standards requires the
          penggunaan estimasi akuntansi penting                               use of certain critical accounting estimates. It
          tertentu. Penyusunan laporan keuangan                               also requires management to exercise its
          konsolidasian juga mengharuskan manajemen                           judgment in the process of applying the Group’s
          untuk menggunakan pertimbangannya dalam                             accounting policies. The areas involving a
          proses penerapan kebijakan akuntansi Grup.                          higher degree of judgment or complexity, or
          Area-area     yang     memerlukan    tingkat                        areas where assumptions and estimates are
          pertimbangan atau kompleksitas yang tinggi,                         significant to the consolidated financial
          atau area dimana asumsi dan estimasi                                statements are disclosed in Note 4.
          merupakan hal yang signifikan dalam laporan
          keuangan konsolidasian, diungkapkan dalam
          Catatan 4.

                                                             24
Page 28
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.   MATERIAL               ACCOUNTING                  POLICIES
                                                                       (continued)

     c. Prinsip - Prinsip Konsolidasian                                 c.    Principles of Consolidation

         Laporan         keuangan         konsolidasian                       The       consolidated     financial     statements
         menggabungkan          laporan       keuangan                        incorporate the financial statements of the
         Perusahaan dan entitas yang dikendalikan oleh                        Company and entities (including structured
         Perusahaan dan entitas anak (termasuk entitas                        entities) controlled by the Company and its
         terstruktur).  Pengendalian     tercapai    jika                     subsidiaries. Control is achieved where the
         Perusahaan memiliki kekuasaan atas investee;                         Company has the power over the investee; is
         eksposur atau hak atas imbal hasil variabel dari                     exposed, or has rights, to variable returns from
         keterlibatannya    dengan     investee;     dan                      its involvement with the investee; and has the
         kemampuan           untuk        menggunakan                         ability to use its power to affect its returns.
         kekuasaannya       atas     investee     untuk
         mempengaruhi jumlah imbal hasil investor.

         Perusahaan menilai kembali apakah entitas                            The Company reassesses whether or not it
         tersebut adalah investee jika fakta dan keadaan                      controls an investee if facts and circumstances
         yang mengindikasikan adanya perubahan                                indicate that there are changes to one or more
         terhadap satu atau lebih dari tiga elemen                            of the three elements of control listed above.
         pengendalian yang disebutkan di atas.

         Ketika Perusahaan memiliki hak suara kurang                          When the Company has less than a majority of
         dari mayoritas di-investee, ia memiliki                              the voting rights of an investee, it has power
         kekuasaan atas investee ketika hak suara                             over the investee when the voting rights are
         investor cukup untuk memberinya kemampuan                            sufficient to give it the practical ability to direct
         praktis untuk mengarahkan aktivitas relevan                          the relevant activities of the investee
         secara           sepihak.            Perusahaan                      unilaterally. The Company considers all
         mempertimbangkan seluruh fakta dan keadaan                           relevant facts and circumstances in assessing
         yang relevan dalam menilai apakah hak suara                          whether or not the Company’s voting rights in
         Perusahaan      cukup      untuk     memberikan                      an investee are sufficient to give it power,
         Perusahaan kekuasaan, termasuk (i) ukuran                            including (i) the size of the Company’s holding
         kepemilikan hak suara Perusahaan relatif                             of voting rights relative to the size and
         terhadap ukuran dan penyebaran kepemilikan                           dispersion of holding of the other vote holders;
         pemilik hak suara lain; (ii) hak suara potensial                     (ii) potential voting rights held by the Company,
         yang dimiliki oleh Perusahaan, pemegang                              other vote holders or other parties; (iii) rights
         suara lain atau pihak lain; (iii) hak yang timbul                    arising from other contractual arrangements;
         dari pengaturan kontraktual lain; dan (iv) setiap                    and (iv) any additional facts and circumstances
         fakta dan keadaan tambahan apapun                                    that indicate that the Company has, or does not
         mengindikasikan bahwa Perusahaan memiliki,                           have, the current ability to direct the relevant
         atau tidak memiliki, kemampuan kini untuk                            activities at the time that decisions need to be
         mengarahkan aktivitas yang relevan pada saat                         made, including voting patterns at previous
         Keputusan perlu dibuat, termasuk pola suara                          shareholders’ meetings.
         pemilikan dalam RUPS sebelumnya.

         Konsolidasi entitas anak dimulai ketika                              Consolidation of a subsidiary begins when the
         Perusahaan memperoleh pengendalian atas                              Company obtains control over the subsidiary
         entitas anak dan akan dihentikan ketika                              and ceases when the Company loses control of
         Perusahaan kehilangan pengendalian pada                              the subsidiary. Specifically, income and
         entitas anak. Secara khusus, pendapatan dan                          expense of a subsidiary acquired or disposed of
         beban entitas anak diakuisisi atau dijual selama                     during the year are included in the consolidated
         tahun berjalan termasuk dalam laporan laba                           statement of profit or loss and other
         rugi     konsolidasian    dan       penghasilan                      comprehensive income from the date the
         komprehensif lain dari tanggal diperolehnya                          Company gains control until the date when the
         pengendalian Perusahaan sampai tanggal                               Company ceases to control the subsidiary.
         ketika Perusahaan berhenti mengendalikan
         entitas anak.




                                                             25
Page 29
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                       3.    MATERIAL ACCOUNTING POLICIES (continued)

     c.   Prinsip-Prinsip Konsolidasian (lanjutan)                       c.    Principles of Consolidation (continued)

          Laba rugi dan setiap komponen penghasilan                            Profit or loss and each component of other
          komprehensif lain diatribusikan kepada pemilik                       comprehensive income are attributed to the
          entitas induk dan         untuk kepentingan                          owners of the Company and to the non-
          nonpengendali.         Perusahaan         juga                       controlling interest. Total comprehensive
          mengatribusikan total laba komprehensif                              income of subsidiaries is attributed to the
          entitas anak kepada pemilik entitas induk dan                        owners of the Company and the non-controlling
          kepentingan nonpengendali meskipun hal                               interest even if this results in the non-controlling
          tersebut     mengakibatkan        kepentingan                        interest having a deficit balance.
          nonpengendali memiliki saldo defisit.

          Jika diperlukan, penyesuaian dapat dilakukan                         When necessary, adjustments are made to the
          terhadap laporan keuangan entitas anak agar                          financial statements of subsidiaries to bring
          kebijakan akuntansi sesuai dengan kebijakan                          their accounting policies in line with the Group’s
          akuntansi Grup.                                                      accounting policies.

          Seluruh aset dan liabilitas, ekuitas, pendapatan,                    All intragroup assets and liabilities, equity,
          biaya dan arus kas yang berkaitan dengan                             income, expenses and cash flows relating to
          transaksi dalam Grup dieliminasi secara penuh                        transactions between members of the Group
          pada saat konsolidasi.                                               are eliminated in full on consolidation.

          Kepentingan nonpengendali pada entitas anak                          Non‑controlling interests in subsidiaries are
          diidentifikasi secara terpisah dari ekuitas Grup                     identified separately from the Group’s equity
          di dalamnya. Kepentingan para pemegang                               therein. Those interests of non‑controlling
          saham       nonpengendali       yang     memiliki                    shareholders that are present ownership
          kepentingan kepemilikan saat ini memberikan                          interests entitling their holders to a
          hak kepada pemegang sahamnya atas bagian                             proportionate share of net assets upon
          proporsional dari aset bersih pada saat likuidasi                    liquidation may initially be measured at fair
          yang awalnya dapat diukur pada nilai wajar atau                      value or at the non‑controlling interests’
          pada      bagian     proporsional    kepentingan                     proportionate share of the fair value of the
          nonpengendali dari nilai wajar asset neto yang                       acquiree’s identifiable net assets. The choice of
          dapat diidentifikasi dari pihak yang diakuisisi                      measurement         is      made        on    an
          yang dapat diidentifikasi. Pilihan pengukuran                        acquisition‑by‑acquisition      basis.     Other
          dilakukan atas basis akuisisi demi akuisisi.                         non‑controlling interests are initially measured
          Kepentingan nonpengendali lainnya pada                               at fair value. Subsequent to acquisition, the
          awalnya diukur pada nilai wajar. Setelah                             carrying amount of non‑controlling interests is
          akuisisi,     jumlah     tercatat    kepentingan                     the amount of those interests at initial
          nonpengendali adalah jumlah kepentingan                              recognition plus the non‑controlling interests’
          tersebut pada pengakuan awal ditambah                                share of subsequent changes in equity.
          bagian kepentingan nonpengendali dari
          perubahan selanjutnya dalam ekuitas.

          Perubahan kepemilikan Grup pada entitas anak                         Changes in the Group’s ownership interest in
          yang      tidak  mengakibatkan     kehilangan                        subsidiaries that do not result in the loss of
          pengendalian atas entitas anak dicatat sebagai                       control over the subsidiaries are accounted for
          transaksi ekuitas. Jumlah tercatat dari                              as equity transactions. The carrying amounts of
          kepemilikan     Grup      dan     kepentingan                        the Group’s interest and the non-controlling
          nonpengendali         disesuaikan        untuk                       interest are adjusted to reflect the changes in
          mencerminkan       perubahan      kepentingan                        their relative interest in the subsidiaries. Any
          relatifnya dalam entitas anak. Selisih antara                        difference between the amount by which the
          jumlah tercatat kepentingan nonpengendali                            non-controlling interest are adjusted and the fair
          yang disesuaikan dan nilai wajar imbalan yang                        value of the consideration paid or received is
          dibayar atau diterima diakui secara langsung                         recognized directly in equity and attributed to
          dalam ekuitas dan diatribusikan dengan pemilik                       owners of the parent company.
          entitas induk.




                                                              26
Page 30
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.    MATERIAL ACCOUNTING POLICIES (continued)

     c.   Prinsip-Prinsip Konsolidasian (lanjutan)                      c.    Principles of Consolidation (continued)

          Ketika Grup kehilangan pengendalian pada                            When the Group losses control of a subsidiary,
          entitas anak, keuntungan atau kerugian diakui                       a gain or loss is recognized in profit or loss and
          dalam laba rugi dan dihitung sebagai                                is calculated as the difference between (i) the
          perbedaan antara (i) agregat nilai wajar                            aggregate of the fair value of the consideration
          pembayaran yang diterima dan nilai wajar sisa                       received and the fair value of any retained
          kepemilikan (retained interest) dan (ii) jumlah                     interest and (ii) the previous carrying amount of
          tercatat sebelumnya dari aset (termasuk                             the assets (including goodwill), and liabilities of
          goodwill), dan liabilitas dari entitas anak dan                     the subsidiary and any non-controlling interest.
          setiap kepentingan nonpengendali. Seluruh                           All amounts previously recognized in other
          jumlah yang diakui sebelumnya dalam                                 comprehensive income in relation to that
          penghasilan komprehensif lain yang terkait                          subsidiary are accounted for as if the Group had
          dengan entitas anak yang dicatat seolah-olah                        directly disposed of the related assets or
          Grup telah melepaskan secara langsung asset                         liabilities of the subsidiary (i.e. reclassified to
          atau liabilitas terkait entitas anak (yaitu                         profit or loss or transferred to another category
          direklasifikasi ke laba rugi atau ditransfer ke                     of equity as specified/permitted by applicable
          kategori lain dari ekuitas sebagaimana                              accounting standards). The fair value of any
          ditentukan / diizinkan oleh standar akuntansi                       investment retained in the former subsidiary at
          yang berlaku). Nilai wajar setiap sisa investasi                    the date when control is lost is regarded as the
          pada entitas anak terdahulu pada tanggal                            fair value on initial recognition for subsequent
          hilangnya pengendalian dianggap sebagai nilai                       accounting under PSAK 71, Financial
          wajar pada saat pengakuan awal untuk                                Instruments: or, when applicable, the cost on
          akuntansi berikutnya dalam PSAK 71,                                 initial recognition of an investment in an
          Instrumen Keuangan atau, ketika berlaku, biaya                      associate or a joint venture.
          perolehan pada saat pengakuan awal dari
          investasi pada entitas asosiasi atau ventura
          bersama.

     d. Instrumen Keuangan                                              d.    Financial Instruments

          Pengakuan dan pengukuran awal                                       Recognition and initial measurement

          Aset keuangan dan liabilitas keuangan diakui                        Financial assets and financial liabilities are
          ketika Grup menjadi bagian dari ketentuan                           recognized when the Group becomes a party to
          kontrak dari instrumen. Aset keuangan dan                           the contractual provisions of the instrument.
          liabilitas keuangan pada awalnya diukur pada                        Financial assets and financial liabilities are
          nilai wajar, kecuali piutang usaha yang tidak                       initially measured at fair value, except for trade
          memiliki komponen pendanaan signifikan yang                         receivables that do not have a significant
          diukur pada harga transaksi.                                        financing component which are measured at
                                                                              transaction price.

          Biaya transaksi yang secara langsung dapat                          Transaction costs that are directly attributable
          diatribusikan     dengan     perolehan     atau                     to the acquisition or issue of financial assets
          penerbitan aset keuangan dan liabilitas                             and financial liabilities (other than financial
          keuangan (selain aset keuangan dan liabilitas                       assets and financial liabilities at fair value
          keuangan yang diukur pada nilai wajar melalui                       through profit or loss) are added to or deducted
          laba rugi) ditambahkan atau dikurangkan dari                        from the fair value of the financial assets or
          nilai wajar aset keuangan atau liabilitas                           financial liabilities, as appropriate, on initial
          keuangan, sebagaimana mestinya, pada                                recognition.      Transaction       costs    directly
          pengakuan awal. Biaya transaksi yang dapat                          attributable to the acquisition of financial assets
          diatribusikan    secara    langsung     dengan                      or financial liabilities at fair value through profit
          perolehan aset keuangan atau liabilitas                             or loss are recognized immediately in
          keuangan yang diukur pada nilai wajar melalui                       consolidated profit or loss.
          laba rugi diakui segera dalam laporan laba rugi
          konsolidasian.




                                                             27
Page 31
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                   d.    Financial Instruments (continued)

         Klasifikasi aset keuangan                                            Classification of financial assets

         Kecuali untuk piutang usaha yang tidak                               Except for those trade receivables that do not
         mengandung komponen pendanaan yang                                   contain a significant financing component and
         signifikan dan diukur pada harga transaksi                           are measured at the transaction price in
         sesuai dengan PSAK 72, semua aset keuangan                           accordance with PSAK 72, all financial assets
         pada awalnya diukur pada nilai wajar yang                            are initially measured at fair value adjusted for
         disesuaikan dengan biaya transaksi (jika ada).                       transaction costs (where applicable).

        Untuk tujuan pengukuran selanjutnya, aset                             For the purpose of subsequent measurement,
        keuangan, selain yang ditetapkan dan efektif                          financial assets, other than those designated
        sebagai instrumen lindung nilai, diklasifikasikan                     and effective as hedging instruments, are
        ke dalam kategori berikut pada saat pengakuan                         classified into the following categories upon
        awal:                                                                 initial recognition:
        • biaya perolehan diamortisasi                                        • amortised cost
        • nilai wajar melalui laba rugi (FVTPL)                               • fair value through profit or loss (FVTPL)
        • nilai      wajar     melalui      penghasilan                       • fair value through other comprehensive
           komprehensif lain (FVOCI)                                               income (FVOCI)

         Klasifikasi ditentukan oleh dua dasar, yaitu:                        The classification is determined by basis of
                                                                              both:
        •   model bisnis entitas dalam mengelola aset                         • the entity’s business model for managing
            keuangan; dan                                                        the financial asset; and
        •   karakteristik arus kas kontraktual dari aset                      • the contractual cash flow characteristics of
            keuangan.                                                            the financial asset.

         Semua aset keuangan kecuali untuk FVTPL                              All financial assets except for those at FVTPL
         ditinjau untuk penurunan nilai setidaknya pada                       are reviewed for impairment at least at each
         setiap tanggal pelaporan untuk mengidentifikasi                      reporting date to identify whether there is any
         apakah ada bukti objektif bahwa aset keuangan                        objective evidence that a financial asset or a
         atau sekelompok aset keuangan mengalami                              group of financial assets is impaired and
         penurunan nilai dan mengakui penyisihan                              recognize a loss allowance for expected credit
         kerugian untuk kerugian kredit ekspektasian                          losses on those financial assets.
         pada aset keuangan tersebut.

         Semua pendapatan dan beban yang berkaitan                            All income and expenses relating to financial
         dengan aset keuangan yang diakui dalam laba                          assets that are recognized in profit or loss are
         rugi disajikan dalam beban keuangan,                                 presented within finance costs, finance income
         pendapatan keuangan, atau item keuangan                              or other financial items, except for impairment
         lainnya, kecuali untuk penurunan nilai piutang                       of trade receivables which is presented within
         usaha yang disajikan dalam beban lain-lain.                          other expenses.
         Aset keuangan biaya perolehan diamortisasi                           Amortized cost financial assets consist of cash
         terdiri dari biaya perolehan diamortisasi kas dan                    on hand and in banks, trade receivables, other
         bank, piutang usaha, piutang lain-lain, dan aset                     receivables and other non-current assets.
         tidak lancar lain-lain.




                                                             28
Page 32
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                  d.    Financial Instruments (continued)

         Pengukuran selanjutnya aset keuangan                                Subsequent           measurement           of     financial
                                                                             assets

         Aset keuangan       pada     biaya   perolehan                      Financial assets at amortised cost
         diamortisasi

        Aset keuangan diukur pada biaya perolehan                            Financial assets are measured at amortised
        diamortisasi jika aset tersebut memenuhi                             cost if the assets meet the following conditions
        kondisi berikut (dan tidak ditetapkan sebagai                        (and are not designated as FVTPL):
        FVTPL):
        • aset tersebut dimiliki dalam model bisnis                          •    they are held within a business mode whose
           yang bertujuan untuk memiliki aset                                     objective is to hold the financial assets and
           keuangan dan mendapatkan arus kas                                      collect its contractual cash flows
           kontraktualnya
        • persyaratan kontraktual dari aset keuangan                         •    the contractual terms of the financial assets
           menimbulkan arus kas yang semata dari                                  give rise to cash flows that are solely
           pembayaran pokok dan bunga dari jumlah                                 payments of principal and interest on the
           pokok terutang                                                         principal amount outstanding

         Setelah pengakuan awal, aset keuangan                               After initial recognition, these are measured at
         tersebut diukur pada biaya perolehan                                amortised cost using the effective interest
         diamortisasi dengan menggunakan metode                              method. Discounting is omitted where the effect
         bunga efektif. Pemberian diskon harga                               of discounting is immaterial.
         dihilangkan jika pengaruh diskon tidak material.

         Metode yang digunakan dalam menghitung                              The method that is used in the calculation of the
         biaya perolehan diamortisasi dari aset                              amortised cost of a financial asset and in the
         keuangan dan dalam pengalokasian dan                                allocation and recognition of the interest
         pengakuan pendapatan bunga pada laporan                             revenue in profit or loss over the relevant
         laba rugi selama periode yang relevan. Suku                         period. The rate that exactly discounts
         bunga yang secara tepat mendiskontokan                              estimated future cash payments or receipts
         estimasi pembayaran atau penerimaan kas                             through the expected life of the financial asset
         masa depan selama perkiraan umur dari aset                          to the gross carrying amount of a financial
         keuangan dengan jumlah tercatat bruto aset                          asset.
         keuangan.

         Pada saat menghitung suku bunga efektif,                            When calculating the effective interest rate, an
         entitas mengestimasi arus kas ekspektasian                          entity shall estimate the expected cash flows by
         dengan        mempertimbangkan          seluruh                     considering all the contractual terms of the
         persyaratan    kontraktual    dari   instrumen                      financial instrument (for example, prepayment,
         keuangan      tersebut     (sebagai     contoh,                     extension, call and similar options) but shall not
         percepatan pelunasan, perpanjangan, opsi beli                       consider the expected credit losses.
         dan     opsi-opsi   serupa),     tetapi    tidak
         mempertimbangkan          kerugian        kredit
         ekspektasian.

         Perhitungan mencakup seluruh fee (imbalan)                          The calculation includes all fees and points paid
         dan komisi yang dibayarkan atau diterima oleh                       or received between parties to the contract that
         pihak-pihak yang terlibat dalam kontrak yang                        are an integral part of the effective interest rate,
         merupakan bagian yang tidak terpisahkan dari                        transaction costs, and all other premiums or
         suku bunga efektif, biaya transaksi, dan seluruh                    discounts. There is a presumption that the cash
         premium atau diskonto lainnya. Terdapat                             flows and the expected life of a group of similar
         praduga bahwa arus kas dan perkiraan umur                           financial instruments can be estimated reliably.
         dari kelompok instrumen keuangan yang
         serupa dapat diestimasi dengan andal.




                                                            29
Page 33
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                  d.    Financial Instruments (continued)

         Pengukuran selanjutnya aset keuangan                                Subsequent measurement                     of     financial
         (lanjutan)                                                          assets (continued)

         Aset keuangan pada           biaya   perolehan                      Financial assets at amortised cost (continued)
         diamortisasi (lanjutan)

         Akan tetapi, dalam kasus yang jarang terjadi,                       However, in those rare cases when it is not
         apabila tidak mungkin mengestimasi arus kas                         possible to reliably estimate the cash flows or
         atau perkiraan umur instrumen keuangan (atau                        the expected life of a financial instrument (or
         kelompok instrumen keuangan) secara andal,                          group of financial instruments), the entity shall
         entitas menggunakan arus kas kontraktual                            use the contractual cash flows over the full
         selama jangka waktu kontrak dari instrumen                          contractual term of the financial instrument (or
         keuangan      (atau    kelompok    instrumen                        group of financial instruments).
         keuangan) tersebut.

         Penurunan nilai aset keuangan                                       Impairment of financial assets

         Persyaratan penurunan nilai PSAK 71                                 PSAK 71’s impairment requirements use more
         menggunakan lebih banyak informasi forward-                         forward-looking information to recognize
         looking untuk mengakui kerugian kredit                              expected credit losses – the ‘expected credit
         ekspektasian - 'model kerugian kredit                               loss (ECL) model’. Instruments within the scope
         ekspektasian (ECL)'. Instrumen dalam ruang                          of the new requirements included loans and
         lingkup persyaratan baru termasuk pinjaman                          other debt-type financial assets measured at
         dan aset keuangan jenis hutang lainnya yang                         amortised cost and FVOCI, trade receivables,
         diukur pada biaya perolehan diamortisasi dan                        recognized and measured under PSAK 72 and
         FVOCI, piutang usaha, yang diakui dan diukur                        loan commitments and some financial
         berdasarkan PSAK 72 dan komitmen pinjaman                           guarantee contracts (for the issuer) that are not
         dan beberapa kontrak jaminan keuangan (untuk                        measured at fair value through profit or loss.
         penerbit) yang tidak diukur pada nilai wajar
         melalui laba rugi.

         Grup mempertimbangkan berbagai informasi                            The Group considers a broader range of
         yang lebih luas ketika menilai risiko kredit dan                    information when assessing credit risk and
         mengukur kerugian kredit ekspektasian,                              measuring expected credit losses, including
         termasuk peristiwa masa lalu, kondisi saat ini,                     past events, current conditions, reasonable and
         prakiraan yang wajar dan dapat didukung yang                        supportable forecasts that affect the expected
         mempengaruhi kolektibilitas yang diharapkan                         collectability of the future cash flows of the
         dari arus kas masa depan dari instrumen                             instrument.
         tersebut.

         Kerugian kredit adalah selisih antara seluruh                       Credit loss are the difference between all
         arus kas kontraktual yang jatuh tempo kepada                        contractual cash flows that are due to an entity
         entitas sesuai dengan kontrak dan seluruh arus                      in accordance with the contract and all the cash
         kas yang diperkirakan diterima entitas (yaitu                       flows that the entity expects to receive
         seluruh kekurangan kas), didiskontokan                              (ie all cash shortfalls), discounted at the original
         dengan suku bunga efektif awal (atau suku                           effective interest rate (or credit adjusted
         bunga efektif yang disesuaikan dengan kredit                        effective interest rate for purchased or
         untuk aset keuangan yang dibeli atau yang                           originated credit-impaired financial assets).
         berasal dari aset keuangan memburuk).




                                                            30
Page 34
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                  d.    Financial Instruments (continued)

         Penurunan nilai aset keuangan (lanjutan)                            Impairment of financial assets (continued)

         Entitas mengestimasi arus kas dengan                                An entity shall estimate cash flows by
         mempertimbangkan        seluruh    persyaratan                      considering all contractual terms of the financial
         kontraktual dari instrumen keuangan (sebagai                        instrument     (for   example,      prepayment,
         contoh, percepatan pelunasan, perpanjangan,                         extension, call and similar options) through the
         opsi beli dan opsi-opsi serupa) selama                              expected life of that financial instrument. The
         perkiraan umur dari instrumen keuangan                              cash flows that are considered shall include
         tersebut. Arus kas yang dipertimbangkan                             cash flows from the sale of collateral held or
         termasuk arus kas dari penjualan agunan yang                        other credit enhancements that are integral to
         dimiliki atau peningkatan kredit lainnya yang                       the contractual terms.
         merupakan bagian yang tidak terpisahkan dari
         persyaratan kontraktual.

         Terdapat praduga bahwa perkiraan umur dari                          There is a presumption that the expected life of
         instrumen keuangan dapat diestimasi dengan                          a financial instrument can be estimated reliably.
         andal. Akan tetapi, dalam kasus yang jarang                         However, in those rare cases when it is not
         terjadi, apabila    tidak   mungkin    untuk                        possible to reliably estimate the expected life of
         mengestimasi perkiraan umur instrumen                               a financial instrument, the entity shall use the
         keuangan dengan andal, entitas menggunakan                          remaining contractual term of the financial
         sisa persyaratan kontraktual dari instrumen                         instrument.
         keuangan.

         Kerugian kredit ekspektasian adalah rata-rata                       Expected credit losses are the weighted
         tertimbang atas kerugian kredit dengan masing-                      average of credit losses with the respective
         masing terjadinya risiko gagal bayar sebagai                        risks of a default occurring as the weights.
         pembobotan.

         Kerugian kredit ekspektasian sepanjang                              Lifetime expected credit losses are the
         umurnya adalah kerugian kredit ekspektasian                         expected credit losses that result from all
         yang dihasilkan dari seluruh kemungkinan                            possible default events over the expected life of
         peristiwa gagal bayar selama perkiraan umur                         a financial instrument
         dari instrumen keuangan.

         Pengukuran kerugian kredit ekspektasian                             Measurement of the expected credit losses is
         ditentukan oleh estimasi probabilitas tertimbang                    determined by a probability-weighted estimate
         kerugian kredit selama perkiraan umur                               of credit losses over the expected life of the
         instrumen keuangan.                                                 financial instrument.

         Piutang usaha dan piutang lainnya                                   Trade and other receivables

         Grup     menggunakan     pendekatan     yang                        The Group makes use of a simplified approach
         disederhanakan dalam akuntansi untuk piutang                        in accounting for trade and other receivables
         usaha dan piutang lain-lain dan mencatat                            and records the loss allowance as lifetime
         penyisihan kerugian sebagai kerugian kredit                         expected credit losses. These are the expected
         ekspektasian sepanjang umurnya. Ini adalah                          shortfalls in contractual cash flows, considering
         perkiraan kekurangan arus kas kontraktual,                          the potential for default at any point during the
         dengan mempertimbangkan potensi gagal                               life of the financial instrument. In calculating,
         bayar pada titik mana pun selama umur                               the Group uses its historical experience,
         instrumen keuangan. Dalam menghitung, Grup                          external indicators and forward looking
         menggunakan       pengalaman     historisnya,                       information to calculate the expected credit
         indikator eksternal dan informasi forward                           losses using a provision matrix.
         looking untuk menghitung kerugian kredit
         ekspektasian dengan menggunakan matriks
         provisi.




                                                            31
Page 35
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                  d.    Financial Instruments (continued)

         Penurunan nilai aset keuangan (lanjutan)                            Impairment of financial assets (continued)

         Piutang usaha dan piutang lainnya (lainnya)                         Trade and other receivables (continued)

         Grup menilai penurunan nilai piutang usaha                          The Group assess impairment of trade
         secara kolektif karena mereka memiliki                              receivables on a collective basis as they
         karakteristik risiko kredit yang dikelompokkan                      possess shared credit risk characteristics they
         berdasarkan hari jatuh tempo.                                       have been grouped based on the days past
                                                                             due.

         Penghentian pengakuan aset keuangan                                 Derecognition of financial assets

         Pada penghentian pengakuan aset keuangan                            On derecognition of a financial asset measured
         yang diukur dengan biaya perolehan                                  at amortised cost, the difference between the
         diamortisasi, selisih antara tercatat aset dan                      asset’s carrying amount and the sum of the
         jumlah imbalan yang diterima dan piutang                            consideration received and receivable is
         diakui dalam laporan laba rugi.                                     recognized in profit or loss.

         Penghentian pengakuan aset keuangan secara                          On derecognition of financial asset in its
         keseluruhan, selisih antara jumlah tercatat aset                    entirety, the difference between the asset’s
         (diukur pada tanggal penghentian pengakuan)                         carrying amount (measured at the date of
         dan jumlah imbalan yang diterima (termasuk                          derecognition) and the consideration received
         setiap aset baru yang diperoleh dikurangi setiap                    (including any new asset obtained less any new
         liabilitas baru yang ditanggung), diakui dalam                      liability assumed) shall be recognized in profit
         laba rugi.                                                          or loss.

         Klasifikasi dan pengukuran selanjutnya                              Classification     and           subsequent
         liabilitas keuangan                                                 measurement of financial liabilities

         Liabilitas keuangan terdiri dari utang usaha,                       Financial liabilities consist of trade payables,
         utang lain-lain, beban akrual, cerukan bank,                        other payables, accrued expenses, bank
         utang bank dan liabilitas sewa.                                     overdraft, bank loans dan lease liabilities.

         Liabilitas keuangan pada awalnya diukur pada                        Financial liabilities are initially measured at fair
         nilai wajar, dan, jika relevan, disesuaikan                         value, and, where applicable, adjusted for
         dengan biaya transaksi kecuali Grup                                 transaction costs unless the Group designated
         menetapkan liabilitas keuangan pada nilai wajar                     a financial liability at fair value through profit or
         melalui laba rugi.                                                  loss.

         Liabilitas keuangan selanjutnya diukur pada                         Financial liabilities are measured subsequently
         biaya perolehan diamortisasi menggunakan                            at amortised cost using the effective interest
         metode bunga efektif kecuali untuk derivatif dan                    method except for derivatives and financial
         liabilitas keuangan yang ditetapkan pada                            liabilities designated at FVTPL, which are
         FVTPL, yang selanjutnya diukur pada nilai                           carried subsequently at fair value with gains or
         wajar dengan keuntungan atau kerugian yang                          losses recognized in profit or loss (other than
         diakui dalam laba rugi (selain instrumen                            derivative financial instruments that are
         keuangan derivatif yang telah ditetapkan dan                        designated and effective as hedging
         efektif sebagai instrumen lindung nilai).                           instruments).

         Semua beban terkait bunga dan, jika berlaku,                        All interest-related charges and, if applicable,
         perubahan nilai wajar instrumen yang                                changes in an instrument’s fair value that are
         dilaporkan dalam laba rugi termasuk dalam                           reported in profit or loss are included within
         biaya keuangan atau pendapatan keuangan.                            finance costs or finance income.




                                                            32
Page 36
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     d. Instrumen Keuangan (lanjutan)                                  d.    Financial Instruments (continued)

          Penghentian pengakuan liabilitas keuangan                          Derecognition of financial liabilites

          Grup menghentikan pengakuan liabilitas                             The Group derecognizes financial liabilities
          keuangan jika, dan hanya jika, kewajiban Grup                      when, and only when, the Group’s obligations
          telah      selesai,  dibatalkan   atau    telah                    are discharged, cancelled or have expired. The
          kedaluwarsa. Selisih antara nilai tercatat                         difference between the carrying amount of the
          liabilitas     keuangan      yang    dihentikan                    financial liability derecognized and the
          pengakuannya dan imbalan yang dibayarkan                           consideration paid and payable is recognized in
          dan yang harus dibayar diakui dalam laba rugi.                     profit or loss.

          Ketika Grup menukar dengan pemberi                                 When the Group exchanges with the existing
          pinjaman yang ada, satu instrumen utang                            lender one debt instrument into another one
          menjadi instrumen utang lainnya dengan                             with the substantially different terms, such
          persyaratan yang secara substansial berbeda,                       exchange       is    accounted    for    as    an
          pertukaran       tersebut  dicatat    sebagai                      extinguishment of the original financial liability
          pengakhiran liabilitas keuangan awal dan                           and the recognition of a new financial liability.
          pengakuan liabilitas keuangan baru. Demikian                       Similarly, the Group accounts for substantial
          pula, Grup mencatat modifikasi substansial atas                    modification of terms of an existing liability or
          persyaratan suatu liabilitas yang ada atau                         part of it as an extinguishment of the original
          bagian darinya sebagai pengakhiran dari                            financial liability and the recognition of a new
          liabilitas keuangan awal dan pengakuan                             liability.
          liabilitas yang baru.

          Diasumsikan bahwa persyaratan tersebut                             It is assumed that the terms are substantially
          berbeda secara substansial jika didiskontokan                      different if the discounted present value of the
          nilai sekarang dari arus kas dalam persyaratan                     cash flows under the new terms, including any
          baru, termasuk biaya yang dibayarkan setelah                       fees paid net of any fees received and
          dikurangi biaya yang diterima dan didiskon                         discounted using the original effectiverate is at
          menggunakan suku bunga efektif awal                                least 10 percent different from the discounted
          setidaknya 10 persen berbeda dari nilai                            present value of the remaining cash flows of the
          sekarang yang didiskontokan dari arus kas                          original financial liability.
          yang tersisa dari liabilitas keuangan awal.

          Jika modifikasinya tidak substansial, perbedaan                    If the modification is not substantial, the
          antara: (1) nilai tercatat liabilitas sebelum                      difference between: (1) the carrying amount of
          modifikasi; dan (2) nilai kini arus kas setelah                    the liability before the modification; and (2) the
          modifikasi diakui dalam laba rugi sebagai                          present value of the cash flows after
          keuntungan atau kerugian modifikasi dalam                          modification is recognized in profit or loss as the
          keuntungan dan kerugian lainnya.                                   modification gain or loss within other gains and
                                                                             losses.

     e.   Saling hapus antar Aset Keuangan dan                         e.    Netting of Financial Assets and Financial
          Liabilitas Keuangan                                                Liabilities

          Aset keuangan dan liabilitas keuangan                              Financial assets and financial liabilities are
          disalinghapuskan dan nilai netonya disajikan                       offset and the net amount presented in the
          dalam laporan poisisi keuangan konsolidasian                       consolidated statement of financial position
          jika Grup saat ini memiliki hak yang dapat                         when the Group has currently a legally
          dipaksakan secara hukum untuk melakukan                            enforceable right to set off the recognized
          saling hapus atas jumlah yang telah diakui, dan                    amounts, and intends either to settle on a net
          berintensi untuk menyelesaikan secara neto                         basis, or to realise the asset and settle the
          atau    untuk     merealisasikan    aset    dan                    liability simultaneously. A right to set-off must
          menyelesaikan liabilitasnya secara simultan.                       be available today rather than being contingent
          Hak saling hapus dapat ada pada saat ini dari                      on a future event and must be exercisable by
          pada bersifat kontinjen atas terjadinya suatu                      any of the counterparties, both in the normal
          peristiwa di masa depan dan harus dieksekusi                       course of business and in the event of default,
          oleh pihak lawan, baik dalam situasi bisnis                        insolvency or bankruptcy.
          normal dan dalam peristiwa gagal bayar,
          peristiwa kepailitan atau kebangkrutan.


                                                            33
Page 37
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                       3.    MATERIAL ACCOUNTING POLICIES (continued)

     f.   Persediaan                                                     f. Inventories

          Persediaan dinyatakan berdasarkan biaya                              Inventories are stated at cost or net realizable
          perolehan atau nilai realisasi bersih, mana yang                     value, whichever is lower. Cost includes all
          lebih rendah. Biaya mencakup semua beban                             expenses      directly   attributable  to    the
          yang dapat diatribusikan secara langsung ke                          manufacturing process as well as suitable
          proses manufaktur serta porsi yang sesuai dari                       portions of related production overheads,
          overhead produksi terkait, berdasarkan                               based on normal operating capacity. Cost of
          kapasitas operasi normal biaya perolehan                             crude palm oil and palm kernel are determined
          minyak sawit dan inti sawit ditentukan dengan                        based on the weighted average method. Cost
          metode rata-rata tertimbang. Biaya perolehan                         of other inventories is determined based on the
          persediaan lainnya ditentukan dengan metode                          moving average method. Net realizable value
          rata-rata bergerak. Nilai realisasi bersih                           represents the estimated selling price for
          merupakan estimasi harga jual dari persediaan                        inventories less all estimated costs of
          dikurangi seluruh biaya penyelesaian dan                             completion and costs necessary to make the
          estimasi biaya yang diperlukan untuk                                 sale.
          penjualan.

          Cadangan keusangan/kerugian ditetapkan                              Allowance     for     obsolescence/losses  is
          untuk menurunkan nilai tercatat persediaan ke                       provided to reduce the carrying value of
          nilai realisasi bersihnya.                                          inventories to their net realizable value.

     g.   Kas dan bank                                                   g.    Cash and banks

          Pada laporan arus kas konsolidasian, kas dan                          In the consolidated statement of cash flows,
          bank terdiri dari saldo kas dan bank dan cerukan                      cash and banks include cash on hand, banks
          bank.                                                                 and bank overdraft.

     h.   Aset Biologis                                                  h. Biological Assets

          Aset biologis Grup terdiri atas produk agrikultur                    The Group’s financial assets comprise of
          bertumbuh yaitu pohon kelapa sawit dan produk                        growing agricultural produce from harvesting
          agrikultur dari tanaman produktif yang terdiri                       product growing on bearer plants up to the point
          atas Tandan Buah Segar (TBS).                                        to be harvested, which are referred as Fresh
                                                                               Fruit Bunches (FFB).

          Aset biologis dinyatakan sebesar nilai wajar                         Biological assets are stated at fair value less
          dikurangi biaya untuk menjual. Keuntungan                            costs to sell. Gains or losses incurred on initial
          atau kerugian yang timbul pada pengakuan                             recognition of agricultural product in fair value
          awal produk agrikultur pada nilai wajar                              less costs to sell biological assets at each
          dikurangi biaya untuk menjual aset biologis                          reporting date include when gain or losses
          pada setiap tanggal pelaporan dimasukkan                             occurred in profit or loss.
          dalam laba rugi pada periode dimana
          keuntungan atau kerugian terjadi.

     i.   Tanaman Perkebunan                                             i. Plantations

          Tanaman belum menghasilkan dinyatakan                                Immature plantations are stated at their
          sebesar biaya perolehan, yang terdiri dari                           acquisition cost, consisting of nursery costs,
          biaya-biaya pembibitan, persiapan lahan,                             land clearing, planting, fertilizing and
          penanaman, pemupukan dan pemeliharaan,                               maintenance, allocation of indirect costs based
          alokasi biaya tidak langsung berdasarkan luas                        on the capitalized area, including capitalization
          hektar, termasuk kapitalisasi biaya pinjaman                         of borrowing costs arising from the loans used
          yang timbul dari pinjaman yang digunakan                             to fund immature plantations over the immature
          untuk mendanai tanaman belum menghasilkan                            plantation periods. Immature plantations are
          selama periode-periode tertentu. Tanaman                             recorded as non-current assets and not
          belum menghasilkan dicatat sebagai aset tidak                        depreciated.
          lancar dan tidak disusutkan.




                                                              34
Page 38
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.    MATERIAL ACCOUNTING POLICIES (continued)

     i.    Tanaman Perkebunan (lanjutan)                                i. Plantations (continued)

           Tanaman belum menghasilkan direklasifikasi                         Immature plantations are classified as mature
           ke tanaman menghasilkan pada saat tanaman                          plantations when considered to be mature and
           dianggap menghasilkan dan mulai disusutkan                         amortized when reclassified. Palm oil
           sejak saat pemindahan. Tanaman kelapa sawit                        plantations are classified as mature plantations
           dinyatakan sebagai tanaman menghasilkan                            if they have reached three to four years which
           apabila telah berumur tiga sampai empat tahun                      generally produce Fresh Fruits Bunches (FFB)
           yang pada umumnya telah menghasilkan                               with an average weighted 4 (four) to 6 (six) tons
           Tandan Buah Segar (TBS) rata-rata 4 (empat)                        per hectare in a year.
           sampai dengan 6 (enam) ton per hektar dalam
           satu tahun.

           Tanaman menghasilkan dicatat sebesar biaya                         Mature plantations are recorded at their
           perolehan saat reklasifikasi dilakukan dan                         acquisition cost when reclassified and
           disusutkan sesuai dengan metode garis lurus                        depreciated using the straight-line method with
           dengan estimasi masa manfaat ekonomis                              an estimated useful life of 20 years.
           selama 20 tahun.

     j.    Aset Tetap                                                   j.    Property, Plant and Equipment

           Aset tetap dibukukan berdasarkan biaya                             Property, plant and equipment are stated at
           perolehan    setelah   dikurangi   akumulasi                       cost less accumulated depreciation and
           penyusutan dan rugi penurunan nilai, jika ada.                     impairment losses, if any. Property, plant and
           Aset tetap disusutkan dengan menggunakan                           equipment are depreciated using the straight-
           metode garis lurus berdasarkan estimasi masa                       line method over the estimated useful lives of
           manfaat keekonomian dari masing-masing aset                        the assets as follows:
           tetap sebagai berikut:

                                                       Tahun/Years

          Pabrik kelapa sawit                               10 - 20                                              Palm oil factory
          Bangunan dan infrastruktur                         5 - 20                                 Buildings and infrastructures
          Mesin dan instalasi                                5 - 15                                  Machinery and installations
          Alat pertanian                                       5                                                Farm equipment
          Alat pengangkutan                                    5                                                        Vehicles
          Inventaris                                           5                                           Furniture and fixtures

           Tanah dinyatakan sebesar biaya perolehan dan                       Land are stated at cost and not depreciated.
           tidak disusutkan. Biaya pengurusan legal hak                       Legal costs of land rights when the land was
           atas tanah ketika tanah diperoleh pertama kali                     acquired initially are recognized as part of the
           diakui sebagai bagian biaya perolehan tanah                        cost of the land and not amortized.
           dan tidak diamortisasi.

           Karena tidak ada batasan umur ekonomis untuk                       As no finite useful life for land can be
           tanah yang dapat ditentukan, jumlah tercatat                       determined, related carrying amounts are not
           terkait tidak didepresiasi.                                        depreciated.

           Penyusutan aset tetap yang berhubungan                             Depreciation of property, plant and equipment
           dengan tanaman perkebunan dialokasikan ke                          related to plantations will be allocated to
           tanaman secara proporsional berdasarkan                            plantations proportionally based on the total
           perbandingan   luas    antara    tanaman                           areas planted for mature plantations and
           menghasilkan    dan    tanaman      belum                          immature plantations.
           menghasilkan.




                                                            35
Page 39
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                       FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                       As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                        3.    MATERIAL ACCOUNTING POLICIES (continued)

     j.   Aset Tetap (lanjutan)                                           j.    Property, Plant and Equipment (continued)

          Aset dalam penyelesaian dinyatakan sebesar                            Assets in progress are presented at cost which
          biaya perolehan, yang mencakup kapitalisasi                           includes capitalization of borrowing costs and
          beban pinjaman dan biaya-biaya lainya yang                            other costs incurred in connection with the
          terjadi sehubungan dengan pendanaan aset                              financing of the assets in progress is presented
          tetap dalam penyelesaian tersebut dan                                 as part of property, plant and equipment.
          disajikan sebagai bagian dari aset tetap.                             Accumulated costs of such assets will be
          Akumulasi biaya perolehan akan dipindahkan                            reclassified to the respective asset when the
          ke masing-masing aset tetap pada saat aset                            asset is completed and ready for use.
          tersebut selesai dikerjakan dan siap digunakan.                       Depreciation starts in the month the asset is
          Penyusutan mulai dibebankan pada bulan aset                           ready for use.
          tersebut siap digunakan.

          Persiapan    lahan   dalam     penyelesaian                           Land clearing in progress represents the cost of
          merupakan      biaya   pembukaan      lahan                           land clearing and plantation preparation.
          perkebunan     dan   persiapan    tanaman.                            Accumulation of this costs will be transferred to
          Akumulasi biaya ini akan dipindahkan ke                               immature plantations when the land clearing is
          tanaman perkebunan belum menghasilkan                                 finished and the land is ready to be planted.
          pada saat persiapan lahan selesai dan siap
          untuk ditanam.

          Biaya-biaya setelah pengakuan awal aset                               Subsequent costs are included in the asset's
          diakui sebagai bagian dari nilai tercatat aset                        carrying amount or recognized as a separate
          atau sebagai aset yang terpisah, sebagaimana                          asset, as appropriate, only when it is probable
          seharusnya, hanya apabila kemungkinan besar                           that future economic benefits associated with
          Grup akan mendapatkan manfaat ekonomis di                             the item will flow to the Group and the cost of
          masa depan berkenaan dengan aset tersebut                             the item can be measured reliably. Repair and
          dan biaya perolehan aset dapat diukur dengan                          maintenance costs are charged to profit or loss
          handal. Biaya perbaikan dan pemeliharaan                              during the period in which they are incurred.
          dibebankan ke dalam laba rugi selama periode
          dimana biaya-biaya tersebut terjadi.

          Nilai residu, umur manfaat aset dan metode                            The residual values, useful lives and methods
          penyusutan     ditelaah, dan    jika  perlu                           of depreciation are reviewed, and adjusted
          disesuaikan, pada setiap akhir periode                                prospectively if appropriate, at each financial
          pelaporan.                                                            year end.

          Aset tetap dihentikan pengakuannya pada saat                          An item of property, plant and equipment is
          pelepasan atau ketika tidak ada manfaat                               derecognized upon disposal or when no future
          ekonomik masa depan yang diharapkan timbul                            economic benefits are expected to arise from
          dari penggunaan aset secara berkelanjutan.                            the continued use of the asset. Any gain or loss
          Keuntungan atau kerugian yang timbul dari                             arising on the disposal or retirement of an item
          pelepasan atau penghentian pengakuan suatu                            of property, plant and equipment is determined
          aset tetap ditentukan sebagai selisih antara                          as the difference between the sales proceeds
          hasil penjualan dan nilai tercatat aset dan diakui                    and the carrying amount of the asset and is
          dalam laba rugi.                                                      recognized in profit or loss.




                                                               36
Page 40
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                       3.    MATERIAL ACCOUNTING POLICIES (continued)

     k.   Penurunan Nilai Aset Non-Keuangan                              k. Impairment of Non-Financial Assets

          Aset non-keuangan ditelaah untuk mengetahui                          Non-financial assets are reviewed for
          apakah telah terjadi penurunan nilai bilamana                        impairment whenever events or changes in
          terdapat kejadian atau perubahan keadaan                             circumstances indicate that the carrying
          yang mengindikasikan bahwa nilai tercatat aset                       amount may not be recoverable. An impairment
          tersebut tidak dapat dipulihkan. Kerugian akibat                     loss is recognized for the amount by which the
          penurunan nilai diakui sebesar selisih lebih                         carrying amount of the asset exceeds its
          antara nilai tercatat aset dengan jumlah                             recoverable amount.
          terpulihkannya tersebut.

          Jumlah terpulihkan adalah nilai yang lebih tinggi                    Recoverable amount is the higher of its fair
          antara nilai wajar dikurangi biaya untuk menjual                     value less cost to sell and its value in use of the
          dan nilai pakai aset. Dalam rangka mengukur                          assets. For the purposes of assessing
          penurunan nilai, aset dikelompokkan hingga                           impairment, assets are grouped at the lowest
          unit terkecil yang menghasilkan arus kas                             levels for which there are separately identifiable
          terpisah.                                                            cash flows.

          Pada setiap akhir periode pelaporan, aset non-                       At each reporting date, non-financial assets,
          keuangan yang telah mengalami penurunan                              that suffered impairment are reviewed for
          nilai ditelaah untuk menentukan apakah                               possible    reversal   of  the   impairment.
          terdapat kemungkinan pemulihan penurunan                             Recoverable amount is immediately recognized
          nilai. Jika terjadi pemulihan nilai, maka                            in profit or loss, but not in excess of any
          langsung diakui dalam laba rugi, tetapi tidak                        accumulated impairment loss previously
          boleh melebihi akumulasi rugi penurunan nilai                        recognized.
          yang telah diakui sebelumnya.

     l.   Proyek Perkebunan Kemitraan                                    l.    Partnership Plantation Projects

          Dalam mendukung program pemerintah, Grup                             In support of the government program,
          membangun kebun plasma melalui pola                                  the Group build plasma plantations through
          pengembangan kerjasama kemitraan dengan                              cooperative development pattern with the
          koperasi. Grup berkewajiban membangun                                partnership cooperation. The Group is obliged
          perkebunan plasma sampai tanaman siap                                to establish the plasma plantations until the
          menghasilkan dan dialihkan kepada koperasi                           plants are ready to produce and switch to
          (konversi).                                                          cooperatives (conversion).

          Biaya-biaya yang terjadi dalam pengembangan                          Costs occurred during the development
          perkebunan pola kemitraan sebelum konversi                           partnership pattern before the conversion were
          dicatat dalam akun Proyek Perkebunan                                 recorded in Partnership Plantation Projects.
          Kemitraan. Pada saat konversi, selisih antara                        During conversion, the difference between
          jumlah tercatat proyek perkebunan kemitraan                          carrying amount and conversion values
          dan nilai konversi diakui dalam laba rugi tahun                      recognized in current year profit or loss.
          berjalan.




                                                              37
Page 41
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                    3.    MATERIAL ACCOUNTING POLICIES (continued)

     m. Sewa                                                          m. Leases

        Sebagai Penyewa                                                     As Lessee

        Grup mempertimbangkan apakah suatu                                  The Group considers whether a contract is, or
        kontrak adalah, atau mengandung sewa pada                           contains a lease at inception of the contract. A
        saat awal kontrak. Sewa didefinisikan sebagai                       lease is defined as “a contract, or part of a
        “kontrak, atau bagian dari kontrak, yang                            contract, that conveys the right to use an asset
        menyampaikan hak untuk menggunakan aset                             (the underlying asset) for a period of time in
        (aset pendasar) untuk suatu jangka waktu                            exchange for consideration”. To apply this
        tertentu untuk dipertukarkan dengan imbalan”.                       definition the Group assesses whether the
        Untuk menerapkan definisi ini, Grup menilai                         contract meets three key evaluations which are
        apakah kontrak memenuhi tiga evaluasi utama,                        whether:
        yaitu apakah:

        •   Kontrak tersebut berisi aset identifikasian,                    •     The contracts contains an identified asset,
            yang diidentifikasikan secara eksplisit                               which is either explicitly identified in the
            dalam kontrak atau secara implisit                                    contract or implicitly specified by being
            ditentukan dengan diidentifikasi pada saat                            identified at the time the asset is made
            aset tersebut tersedia untuk Grup.                                    available to the Group.
        •   Grup memiliki hak untuk memperoleh                              •     The Group has the right to obtain
            secara substansial seluruh manfaat                                    substantially all of the economic benefits
            ekonomik       dari   penggunaan       aset                           from use of the identified asset throughout
            identifikasian selama periode penggunaan,                             the period of use, considering its rights
            dengan mempertimbangkan haknya dalam                                  within the defined scope of the contract.
            ruang lingkup kontrak yang ditentukan.
        •   Grup memiliki hak untuk mengarahkan                             •     The Group has the right to direct the use of
            penggunaan aset identifikasian selama                                 the identified asset throughout the period of
            periode penggunaan. Grup menilai apakah                               use. The Group assess whether it has the
            Grup memiliki hak untuk mengarahkan                                   right to direct “how and for what purpose”
            “bagaimana dan untuk tujuan apa” aset                                 the asset is used throughout the period of
            digunakan selama periode penggunaan.                                  use.

        Pada tanggal permulaan sewa, Grup mengakui                          At lease commencement date, the Group
        aset hak-guna dan liabilitas sewa di laporan                        recognizes a right-of-use asset and a lease
        posisi keuangan konsolidasian. Aset hak-guna                        liability on the consolidated statement of
        diukur sebesar biaya perolehan, yang terdiri                        financial position. The right-of-use asset is
        dari pengukuran awal liabilitas sewa, setiap                        measured at cost, which is made up of the initial
        biaya langsung awal yang dikeluarkan oleh                           measurement of the lease liability, any initial
        Grup, estimasi biaya untuk membongkar dan                           direct costs incurred by the Group, an estimate
        mengeluarkan aset pada akhir kontrak sewa,                          of any costs to dismantle and remove the asset
        dan pembayaran sewa yang dilakukan sebelum                          at the end of the lease, and any lease payments
        tanggal dimulainya sewa (dikurangi dengan                           made in advance of the lease commencement
        insentif yang diterima).                                            date (net of any incentives received).

        Grup mendepresiasi aset hak-guna dengan                             The Group depreciates the right-of-use assets
        metode garis lurus dari tanggal mulai sewa                          on a straight-line basis from the lease
        sampai mana yang lebih awal dari akhir masa                         commencement date to the earlier of the end of
        manfaat aset hak-guna atau akhir masa sewa.                         the useful life of the right-of-use asset or the
        Grup juga menilai penurunan nilai aset hak-                         end of the lease term. The Group also assesses
        guna jika indikator tersebut ada.                                   the right-of-use asset for impairment when such
                                                                            indicators exist.




                                                           38
Page 42
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                PT FAP AGRI Tbk
DAN ENTITAS ANAK                                               AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                  FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                  As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)              (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                   3.    MATERIAL ACCOUNTING POLICIES (continued)

     m. Sewa (lanjutan)                                              m. Leases (continued)

        Sebagai Penyewa (lanjutan)                                         As Lessee (continued)

        Pada tanggal permulaan, Grup mengukur                              At the commencement date, the Group
        liabilitas sewa pada nilai kini dari pembayaran                    measures the lease liability at the present value
        sewa yang belum dibayar pada tanggal                               of the lease payments unpaid at that date,
        tersebut, didiskontokan menggunakan suku                           discounted using the interest rate implicit in the
        bunga implisit dalam sewa jika suku bunga                          lease if that rate is readily available or the
        tersebut sudah tersedia atau suku bunga                            Group’s incremental borrowing rate.
        inkremental pinjaman Grup.

        Pembayaran sewa yang termasuk dalam                                Lease payments included in the measurement
        pengukuran liabilitas sewa terdiri dari                            of the lease liability are made up of fixed
        pembayaran tetap (termasuk dalam substansi                         payments (including in substance fixed),
        tetap), pembayaran variabel berdasarkan                            variable payments based on an index or rate,
        indeks atau tarif, jumlah yang diharapkan akan                     amounts expected to be payable under a
        dibayarkan berdasarkan jaminan nilai sisa dan                      residual value guarantee and payments arising
        pembayaran yang timbul dari opsi yang cukup                        from options reasonably certain to be
        pasti untuk dilakukan.                                             exercised.

        Setelah pengukuran awal, liabilitas akan                           Subsequent to initial measurement, the liability
        berkurang untuk pembayaran yang dilakukan                          will be reduced for payments made and
        dan bertambah untuk bunga. Ini diukur kembali                      increased for interest. It is remeasured to reflect
        untuk mencerminkan penilaian ulang atau                            any reassessment or modification, or if there
        modifikasi, atau jika ada perubahan dalam                          are changes in in-substance fixed payments.
        pembayaran tetap yang substansial.

        Pembayaran sewa yang direvisi didiskontokan                        The revised lease payments are discounted
        dengan menggunakan suku bunga pinjaman                             using the Group’s incremental borrowing rate at
        inkremental Grup pada tanggal penilaian                            the date of reassessment when the rate implicit
        kembali ketika suku bunga implisit dalam sewa                      in the lease cannot be readily determined. The
        tidak mudah ditentukan. Jumlah pengukuran                          amount of the remeasurement of the lease
        kembali liabilitas sewa mencerminkan sebagai                       liability is reflected as an adjustment to the
        penyesuaian terhadap jumlah tercatat aset hak-                     carrying amount of the right-of-use asset. The
        guna. Pengecualian adalah ketika nilai tercatat                    exception being when the carrying amount of
        aset hak-guna telah dikurangi menjadi nol,                         the right-of-use asset has been reduced to zero
        maka setiap kelebihannya diakui dalam laba                         then any excess is recognized in profit or loss.
        rugi.

        Pembayaran sewa juga dapat berubah bila ada                        Payments under leases can also change when
        perubahan dalam jumlah yang diharapkan akan                        there is either a change in the amounts
        dibayar berdasarkan jaminan nilai residual atau                    expected to be paid under residual value
        ketika pembayaran di masa depan berubah                            guarantees or when future payments change
        melalui indeks atau suku bunga yang                                through an index or a rate used to determine
        digunakan untuk menentukan pembayaran                              those payments, including changes in market
        tersebut, termasuk perubahan tarif sewa pasar                      rental rates following a market rent review.
        setelah tinjauan sewa pasar.

        Liabilitas sewa diukur kembali hanya jika                          The lease liability is remeasured only when the
        penyesuaian pembayaran sewa berlaku dan                            adjustment to lease payments takes effect and
        pembayaran kontraktual direvisi untuk sisa                         the revised contractual payments for the
        masa sewa didiskontokan menggunakan                                remainder of the lease term are discounted
        tingkat diskonto yang tidak berubah. Kecuali                       using an unchanged discount rate. Except for
        jika perubahan pembayaran sewa diakibatkan                         where the change in lease payments results
        oleh perubahan suku bunga mengambang,                              from a change in floating interest rates, in which
        dalam hal ini tingkat diskonto diubah untuk                        case the discount rate is amended to reflect the
        mencerminkan perubahan suku bunga.                                 change in interest rates.



                                                          39
Page 43
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


 3.    KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.   MATERIAL ACCOUNTING POLICIES (continued)

      m. Sewa (lanjutan)                                                 m. Leases (continued)

         Sebagai Penyewa (lanjutan)                                         As Lessee (continued)

         Untuk     menanggapi     kebutuhan    bisnis                       To respond to business needs particularly in the
         khususnya dalam permintaan ruang kantor,                           demand for office space, the Group will enter
         Grup akan mengadakan negosiasi dengan                              into negotiations with landlords to either
         pemilik tanah untuk menambah atau                                  increase or decrease available office space or
         mengurangi ruang kantor yang tersedia atau                         to renegotiate amounts payable under the
         untuk menegosiasikan kembali jumlah yang                           respective leases. In some instances, the
         harus dibayar berdasarkan sewa masing-                             Group is able to increase office capacity by
         masing. Dalam beberapa kasus, Grup dapat                           taking additional floors available and therefore
         meningkatkan kapasitas kantor dengan                               agrees with the landlord to pay an amount that
         mengambil lantai tambahan yang tersedia dan                        is commensurate with the standalone pricing
         oleh karena itu setuju dengan pemilik untuk                        adjusted to reflect the particular contract terms.
         membayar jumlah yang sepadan dengan harga                          In these situations, the contractual agreement
         yang berdiri sendiri yang disesuaikan untuk                        is treated as a new lease and accounted for
         mencerminkan persyaratan kontrak tertentu.                         accordingly.
         Dalam     situasi  ini,  perjanjian  kontrak
         diperlakukan sebagai sewa baru dan
         diperhitungkan sesuai dengan itu.

         Dalam kasus lain, Grup dapat menegosiasikan                        In other instances, the Group is able to
         perubahan sewa seperti mengurangi jumlah                           negotiate a change to a lease such as reducing
         ruang kantor yang diambil, mengurangi masa                         the amount of office space taken, reducing the
         sewa atau dengan mengurangi jumlah total                           lease term or by reducing the total amount
         yang harus dibayar berdasarkan sewa.                               payable under the lease. Both of which were not
         Keduanya bukan bagian dari syarat dan                              part of the original terms and conditions of the
         ketentuan asli dari sewa. Dalam situasi ini, Grup                  lease. In these situations, the Group does not
         tidak memperhitungkan perubahan tersebut                           account for the changes as though there is a
         seolah-olah ada sewa baru. Sebaliknya,                             new lease. Instead, the revised contractual
         pembayaran       kontraktual   yang       direvisi                 payments are discounted using a revised
         didiskontokan menggunakan tingkat diskonto                         discount rate at the date that the lease is
         yang direvisi pada tanggal efektif sewa                            effectively modified. For the reasons explained
         dimodifikasi. Untuk alasan yang dijelaskan di                      above, the discount rate used is the Group’s
         atas, tingkat diskonto yang digunakan adalah                       incremental borrowing rate determined at the
         suku bunga pinjaman inkremental Grup yang                          modification date, as the rate implicit in the
         ditentukan pada tanggal modifikasi, karena                         lease is not readily determinable.
         suku bunga implisit dalam sewa tidak mudah
         ditentukan.

         Pengukuran       kembali    liabilitas   sewa                      The remeasurement of the lease liability is dealt
         diselesaikan dengan pengurangan jumlah                             with by a reduction in the carrying amount of the
         tercatat aset hak-guna untuk mencerminkan                          right-of-use asset to reflect the full or partial
         penghentian sewa secara penuh atau sebagian                        termination of the lease for lease modifications
         untuk modifikasi sewa yang mengurangi ruang                        that reduce the scope of the lease. Any gain or
         lingkup sewa. Keuntungan atau kerugian                             loss relating to the partial or full termination of
         berkaitan dengan penghentian sebagian atau                         the lease is recognized in profit or loss. The
         seluruh sewa diakui dalam laba rugi. Aset hak-                     right-of-use asset is adjusted for all other lease
         guna disesuaikan untuk semua modifikasi sewa                       modifications.
         lainnya.

         Grup telah memilih untuk memperhitungkan                           The Group has elected to account for
         sewa jangka pendek dan sewa guna aset                              short-term leases and leases of low-value
         bernilai rendah dengan menggunakan cara                            assets using the practical expedients. Instead
         praktis. Dari pada mengakui aset hak-guna dan                      of recognising a right-of-use asset and lease
         liabilitas sewa, pembayaran sehubungan                             liability, the payments in relation to these are
         dengan hal tersebut diakui sebagai beban                           recognized as an expense in profit or loss on a
         dalam laba rugi dengan metode garis lurus                          straight-line basis over the lease term.
         selama masa sewa.


                                                              40
Page 44
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                       3.    MATERIAL ACCOUNTING POLICIES (continued)

     m. Sewa (lanjutan)                                                  m. Leases (continued)

          Sebagai Penyewa (lanjutan)                                           As Lessee (continued)

          Pada laporan posisi keuangan konsolidasian,                          On the consolidated statement of financial
          asset hak-guna dicatat terpisah dari aset tetap                      position, right-of-use assets have been
          dan liabilitas sewa dicatat terpisah pada laporan                    excluded from property, plant and equipment
          posisi keuangan konsolidasian.                                       and lease liabilities as a separate line in the
                                                                               consolidated statement of financial position.

     n.   Pengukuran Nilai Wajar                                         n. Fair Value Measurement

          Semua aset dan liabilitas yang nilai wajarnya                        All assets and liabilities for which fair value is
          diukur atau diungkapkan dalam laporan                                measured or disclosed in the consolidated
          keuangan konsolidasian dikategorikan dalam                           financial statements are categorized in the fair
          hirarki nilai wajar berdasarkan level input                          value hierarchy, described as follows, based on
          terendah yang signifikan terhadap keseluruhan                        the lowest level input which significant to the fair
          pengukuran nilai wajar sebagai berikut:                              value measurement as a whole:

          (i) Input Level 1: harga kuotasian (tanpa                           (i) Level 1 Inputs: quoted prices (unadjusted) in
                penyesuaian) di pasar aktif untuk aset atau                        active markets for indentical assets or
                liabilitas yang identik yang dapat diakses                         liabilities accessible by the entity at the
                entitas pada tanggal pengukuran.                                   measurement date.
          (ii) Input Level 2: teknik penilaian yang                           (ii) Level 2 Inputs: Valuation techniques for
                menggunakan tingkat masukan yang paling                            which the lowest level input that is significant
                rendah       yang     signifikan   terhadap                        to the fair value measurement is directly or
                pengukuran nilai wajar yang dapat diamati                          indirectly observable.
                baik secara langsung atau tidak langsung.
          (iii) Input Level 3: teknik penilaian yang                          (iii) Level 3 Inputs: Valuation techniques for
                menggunakan tingkat masukan terendah                                which the lowest level input that is significant
                yang signifikan terhadap pengukuran nilai                           to the fair value measurement is directly or
                wajar yang tidak dapat diamati baik secara                          indirectly unobservable.
                langsung atau tidak langsung.

     o.   Pengakuan Pendapatan dan Beban                                 o.    Revenue and Expense Recognition

          Pendapatan terutama berasal dari penjualan                           Revenue arises mainly from the sale of crude
          minyak sawit, TBS, inti sawit dan minyak inti                        palm oil, FFB, palm kernel and palm kernel oil.
          sawit. Pendapatan tersebut diakui pada suatu                         Revenue is recognized at a point in time, when
          waktu tertentu, ketika (atau saat) Grup                              (or as) the Group satisfies performance
          memenuhi kewajiban pelaksanaan dengan                                obligations by transferring the control of the
          mengalihkan pengendalian barang atau jasa                            promised goods or services to its customers.
          yang dijanjikan kepada pelanggannya.

          Grup mencatat pengakuan pendapatan sesuai                            The Group revenue recognition in accordance
          dengan yang dijelaskan di PSAK 72.                                   with PSAK 72.

          Dalam menentukan pengakuan pendapatan,                               In determining revenue recognition, the Group
          Grup melakukan analisa transaksi melalui lima                        perform analysis transaction through the
          langkah analisa berikut:                                             following five steps of assessment:

          1. Mengidentifikasi kontrak dengan pelanggan                        1. Identifying the contract with a customer
          2. Mengidentifikasi kewajiban pelaksanaan                           2. Identifying the performance obligation
          3. Menentukan harga transaksi                                       3. Determining the transaction price
          4. Mengalokasikan harga transaksi terhadap                          4. Allocating the transaction price to the
             kewajiban pelaksanaan                                               performance obligation
          5. Mengakui pendapatan ketika (pada saat)                           5. Recognising revenue where/as performance
             kewajiban pelaksanaan diselesaikan                                  obligations are satisfied

          Beban diakui pada saat terjadinya (akrual                            Expenses are           recognized        when      incurred
          basis).                                                              (accrual basis).

                                                              41
Page 45
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                       FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                       As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                        3.    MATERIAL ACCOUNTING POLICIES (continued)

     p.    Penjabaran Mata Uang Asing                                     p.    Foreign     Currency              Transaction           and
                                                                                Translation

           Mata uang pelaporan yang digunakan pada                               The reporting currency used in the consolidated
           laporan keuangan konsolidasian adalah                                 financial statements is Indonesian Rupiah,
           Rupiah, yang juga merupakan mata uang                                 which is also the functional currency of the
           fungsional Grup. Tiap entitas menentukan mata                         Group. Each entity determines its functional
           uang fungsionalnya masing-masing dan                                  currency and their financial statements are
           laporan keuangannya masing-masing diukur                              measured using that functional currency.
           menggunakan mata uang fungsional tersebut.

           Transaksi dalam mata uang asing dijabarkan                            Transactions denominated in foreign currencies
           dalam mata uang Rupiah berdasarkan kurs                               are recorded into Indonesian Rupiah at the
           yang berlaku pada saat transaksi terjadi. Aset                        exchange rates prevailing at the time the
           dan liabilitas moneter dalam mata uang asing                          transaction was made. Monetary assets and
           dijabarkan ke dalam mata uang Rupiah dengan                           liabilities denominated in foreign currencies are
           menggunakan kurs tengah Bank Indonesia                                converted into Indonesia Rupiah at the middle
           yang berlaku pada akhir periode pelaporan.                            rates of Bank Indonesia prevailing at then end
                                                                                 of the reporting period.

           Laba atau rugi kurs yang timbul dari transaksi                        Any resulting gain or loss is credited or charged
           dan penyesuaian aset dan liabilitas dalam mata                        to     the    consolidated         statement     of
           uang asing tersebut dikreditkan atau                                  comprehensive income             for    the year.
           dibebankan dalam laba rugi konsolidasian                              Non‑monetary items carried at fair value that
           tahun berjalan. Pos non-moneter yang dicatat                          are denominated in foreign currencies are
           pada nilai wajar yang didenominasikan dalam                           translated at the rates prevailing at the date
           mata uang asing dijabarkan dengan kurs yang                           when the fair value was determined.
           berlaku pada tanggal ketika nilai wajar                               Non‑monetary items that are measured in
           ditentukan. Item-item non-moneter yang diukur                         terms of historical cost in a foreign currency are
           berdasarkan biaya historis dalam mata uang                            not retranslated. Exchange differences are
           asing tidak dijabarkan kembali. Perbedaan nilai                       recognized in profit or loss in the period in which
           tukar diakui dalam laba rugi pada periode                             they arise.
           terjadinya.

           Kurs    yang   digunakan   pada    tanggal                            The      exchange  rate    used     as   of
           30 Juni 2024 dan 31 Desember 2023, masing-                            June 30, 2024 and 2023, respectively was as
           masing sebagai berikut:                                               follows:

                                                 30/06/2024         31/12/2023

          Dolar Amerika Serikat (USD)                  16.421                  15.416                   United States Dollar (USD)
          Dolar Singapura (SGD)                        12.095                  11.711                     Singapore Dollar (SGD)


     q.    Transaksi dengan Pihak Berelasi                                q.    Related Party Transactions

           Pihak-pihak berelasi adalah orang atau entitas                        Related party represents a person or an entity
           yang terkait dengan entitas pelapor:                                  who is related to the reporting entity:

           (a) Orang atau anggota keluarga terdekat                      a       (a) A person or a close member of the person’s
               mempunyai relasi dengan entitas pelapor                          a family is related to a reporting entity if that
               jika orang tersebut:                                             d person:

              (i)   memiliki       pengendalian         atau                        (i)   has control or joint control over the
                    pengendalian bersama atas entitas                                     reporting entity;
                    pelapor;
              (ii) memiliki pengaruh signifikan atas                                (ii) has significant influence over the
                    entitas pelapor; atau                                                 reporting entity; or
              (iii) personil manajemen kunci entitas                                (iii) is a member of the key management
                    pelapor atau entitas induk pelapor.                                   personnel of the reporting entity or of a
                                                                                          parent of the reporting entity.

                                                               42
Page 46
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT FAP AGRI Tbk                                                      PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                     AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                        FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                        As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                    (Expressed in Rupiah, unless otherwise stated)



3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                         3.    MATERIAL ACCOUNTING POLICIES (continued)

     q.   Transaksi dengan Pihak Berelasi (lanjutan)                       q. Related Party Transactions (continued)

          (b) Suatu entitas berelasi dengan entitas                              (b) An entity is related to a reporting entity if any
              pelapor jika memenuhi salah satu hal                                   of the following conditions applies:
              berikut:

             (i)   Entitas dan entitas pelapor adalah                                (i)  The entity and the reporting entity are
                   anggota dari kelompok usaha yang                                       members of the same group (which
                   sama (artinya entitas induk, entitas                                   means that each parent, subsidiary and
                   anak, dan entitas anak berikutnya                                      fellow subsidiary is related to the
                   terkait dengan entitas lain).                                          others).
             (ii) Satu entitas adalah entitas asosiasi                               (ii) One entity is an associate or joint
                   atau ventura bersama dari entitas lain                                 venture of the other entity (or an
                   (atau entitas asosiasi atau ventura                                    associate or joint venture of a member
                   bersama yang merupakan anggota                                         of a group of which the other entity is a
                   suatu kelompok usaha, yang entitas                                     member).
                   lainnya tersebut adalah anggotanya).
             (iii) Kedua entitas tersebut adalah ventura                             (iii) Both entities are joint ventures of the
                   bersama dari pihak ketiga yang sama.                                    same third party.
             (iv) Satu entitas adalah ventura bersama                                (iv) One entity is a joint venture of a third
                   dari entitas ketiga dan entitas yang lain                               entity and the other entity is an
                   adalah entitas asosiasi dari entitas                                    associate of the third entity.
                   ketiga.
             (v) Entitas tersebut adalah suatu program                               (v) The entity is a post-employment benefit
                   imbalan pascakerja untuk imbalan kerja                                plan for the benefit of employees of
                   dari salah satu entitas pelapor atau                                  either the reporting entity. If the
                   entitas yang terkait dengan entitas                                   reporting entity is itself such a plan, the
                   pelapor.            Jika           entitas                            sponsoring employers are also related
                   pelapor      adalah      entitas     yang                             to the reporting entity.
                   menyelenggarakan program tersebut,
                   maka entitas sponsor juga berelasi
                   dengan entitas pelapor.
             (vi) Entitas      yang    dikendalikan      atau                        (vi) The entity is controlled or jointly
                   dikendalikan bersama oleh orang yang                                   controlled by a person identified in (a).
                   diidentifikasi dalam huruf (a).
             (vii) Orang yang diidentifikasi dalam huruf                             (vii) A person identified in (a)(i) has
                   (a) (i) memiliki pengaruh signifikan atas                                significant influence over the entity or is
                   entitas atau personil manajemen kunci                                    a member of the key management
                   entitas (atau entitas induk dari entitas).                               personnel of the entity (or of a parent of
                                                                                            the entity.
             (viii) Entitas, atau anggota dari kelompok                              (viii) The entity, or any member of a group of
                    yang mana entitas merupakan bagian                                      which it is a part, provides key
                    dari kelompok tersebut, menyediakan                                     management personnel services to the
                    jasa personil manajemen kunci kepada                                    reporting entity or to the parent of the
                    entitas pelapor atau kepada entitas                                     reporting entity.
                    induk dari entitas pelapor.

          Seluruh transaksi dan saldo yang material                              All significant transactions and balances with
          dengan pihak-pihak berelasi diungkapkan                                related parties are disclosed in the notes to the
          dalam catatan atas laporan keuangan                                    consolidated financial statements.
          konsolidasian.

     r.   Perpajakan                                                       r.    Income Tax

          Grup menghitung beban pajak sesuai dengan                             The Group calculates the tax expense in
          yang dijelaskan di PSAK 46.                                           accordance under PSAK 46.




                                                                43
Page 47
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                      3.    MATERIAL ACCOUNTING POLICIES (continued)

     r.   Perpajakan (lanjutan)                                         r.    Income Tax (continued)

          Beban pajak yang diakui dalam laporan laba                          Tax expense recognized in consolidated profit
          rugi konsolidasian terdiri dari jumlah pajak                        or loss comprises the sum of deferred tax and
          tangguhan dan pajak kini yang tidak diakui                          current tax not recognized in other
          dalam penghasilan komprehensif lain atau                            comprehensive income or directly in equity.
          langsung dalam ekuitas.

          Perhitungan pajak kini didasarkan pada tarif                        Calculation of current tax is based on tax rates
          pajak dan undang-undang pajak yang berlaku                          and tax laws that have been enacted or
          atau yang secara substansial berlaku pada                           substantively enacted by the end of the
          akhir periode pelaporan. Pajak penghasilan                          reporting period. Deferred income taxes are
          tangguhan dihitung dengan menggunakan                               calculated using the liability method, on
          metode liabilitas, untuk semua perbedaan                            temporary differences which arise from the
          temporer yang berasal dari selisih antara dasar                     difference between the tax bases of assets and
          pengenaan pajak aset dan liabilitas dengan nilai                    liabilities and their carrying amounts in the
          tercatatnya    pada     laporan       keuangan                      consolidated financial statements. However,
          konsolidasian.    Namun,     liabilitas   pajak                     deferred tax liabilities are not recognized if they
          penghasilan tangguhan tidak diakui jika berasal                     arise from the initial recognition of goodwill.
          dari pengakuan awal goodwill. Pajak                                 Deferred income tax is also not accounted for if
          penghasilan      tangguhan        juga     tidak                    it arises from initial recognition of an asset or
          diperhitungkan     jika  pajak      penghasilan                     liability in a transaction other than a business
          tangguhan tersebut timbul dari pengakuan awal                       combination that at the time of the transaction
          aset atau pengakuan awal liabilitas dalam                           affects neither accounting nor taxable profit or
          transaksi yang bukan kombinasi bisnis yang                          loss.
          pada saat transaksi tidak mempengaruhi laba
          akuntansi maupun laba kena pajak/rugi pajak.

          Aset dan liabilitas pajak tangguhan diukur                          Deferred tax assets and liabilities are measured
          dengan menggunakan tarif pajak yang                                 at the tax rates that are expected to apply in the
          diharapkan berlaku dalam periode ketika                             period in which the liability is settled or the asset
          liabilitas diselesaikan atau aset dipulihkan                        realized, based on the tax rates (and tax laws)
          berdasarkan tarif pajak (dan peraturan pajak)                       that have been enacted, or substantively
          yang telah berlaku atau secara substantif telah                     enacted, by the end of the reporting period.
          berlaku pada akhir periode pelaporan. Liabilitas                    Deferred tax liabilities are recognized for all
          pajak tangguhan diakui untuk semua                                  taxable temporary differences and deferred tax
          perbedaan temporer kena pajak dan aset pajak                        assets are recognized for deductible
          tangguhan diakui untuk perbedaan yang boleh                         differences, when it is probable to be used
          dikurangkan, sepanjang besar kemungkinan                            against future taxable income.
          dapat dimanfaatkan untuk mengurangi laba
          kena pajak pada masa mendatang.

          Aset pajak tangguhan diakui sepanjang besar                         Deferred tax assets are recognized to the
          kemungkinan bahwa rugi fiskal atau perbedaan                        extent that it is probable that the underlying tax
          temporer yang dapat dikurangkan akan                                loss or deductible temporary difference will be
          diutilisasi terhadap penghasilan kena pajak                         utilised against future taxable income. This is
          dimasa depan. Ini dinilai berdasarkan perkiraan                     assessed based on the Group’s forecast of
          Grup atas hasil operasi di masa depan,                              future operating results, adjusted for significant
          disesuaikan      dengan     pendapatan      dan                     non-taxable income and expenses and specific
          pengeluaran tidak kena pajak yang signifikan                        limits on the use of any unused tax loss or
          dan batas spesifik pada penggunaan kerugian                         credit.
          atau kredit pajak yang belum digunakan.

          Liabilitas pajak tangguhan secara umum diakui                       Deferred tax liabilities are generally recognized
          secara penuh, meskipun PSAK 46, Pajak                               in full, although PSAK 46, Income Taxes,
          Penghasilan, secara spesifik menentukan                             specifies limited exemptions.
          pengecualian terbatas.




                                                             44
Page 48
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     r. Perpajakan (lanjutan)                                          r. Income Tax (continued)

         Aset dan liabilitas pajak tangguhan saling                           Deferred tax assets and liabilities are offset
         hapus ketika entitas memiliki hak yang dapat                         when there is legally enforceable right to set off
         dipaksakan secara hukum untuk melakukan                              current tax assets against current tax liabilities
         saling hapus aset pajak kini terhadap liabilitas                     and when they relate to income taxes levied by
         pajak kini dan ketika aset pajak tangguhan dan                       the same taxation authority on either the same
         liabilitas pajak tangguhan terkait dengan pajak                      taxable entity or different taxable entities when
         penghasilan yang dikenakan oleh otoritas                             there is an intention to settle its current tax
         perpajakan yang sama atas entitas kena pajak                         assets and current tax liabilities on a net basis,
         yang sama atau entitas kena pajak yang                               or to realize the assets and settle the liabilities
         berbeda       yang    memiliki    intensi  untuk                     simultaneously, in each future period in which
         memulihkan aset dan liabilitas pajak kini                            significant amounts of deferred tax liabilities or
         dengan dasar neto, atau merealisasikan aset                          assets are expected to be settled or recovered.
         dan       menyelesaikan      liabilitas   secara
         bersamaan, pada setiap periode masa depan
         dimana jumlah signifikan atas aset atau
         liabilitas pajak tangguhan diharapkan untuk
         diselesaikan atau dipulihkan.

         Koreksi terhadap liabilitas perpajakan diakui                      Amendments to tax obligations are recorded
         pada saat surat ketetapan pajak diterima. Jika                     when a tax assessment letter is received.
         Grup     mengajukan        keberatan,    Grup                      If the Group files an appeal, the Group
         mempertimbangkan           apakah        besar                     considers whether it is probable that a
         kemungkinan otoritas pajak akan menerima                           taxation authority will accept the appeal and
         keberatan    tersebut     dan    merefleksikan                     reflect its effect on the Group tax obligations.
         dampaknya terhadap liabilitas perpajakan
         Grup.

     s. Imbalan Kerja                                                  s.     Employee Benefits

         Grup mengalokasikan beban dan liabilitas                           The Group allocates employee benefit
         imbalan kerja sesuai penjelasan PSAK 24.                           expenses and liabilities as described under
                                                                            PSAK 24.

         Grup menghitung dan mencatat liabilitas                              The Group calculates and records the
         imbalan kerja untuk semua karyawan tetap                             imbalance of work obligations for all permanent
         sesuai dengan ketentuan Peraturan Grup.                              employees in accordance with the provisions of
                                                                              the Group Regulations.

         Imbalan Kerja Jangka Pendek                                          Short-term Employee Benefits

         Imbalan kerja jangka pendek, termasuk hak hari                       Short-term employee benefits, including holiday
         libur, adalah liabilitas lancar yang termasuk                        entitlement, are current liabilities included in
         dalam pensiun dan liabilitas karyawan lainnya,                       pension and other employee obligations,
         diukur pada jumlah yang tidak didiskonto yang                        measured at the undiscounted amount that the
         diharapkan Grup untuk dibayar sebagai akibat                         Group expects to pay as a result of the unused
         dari hak yang tidak digunakan.                                       entitlement.

         Imbalan Pascakerja                                                   Post-Employment Benefits

         Pengukuran kembali atas liabilitas (aset)                            Remeasurements of the net defined benefit
         imbalan pasti neto, yang diakui sebagai                              liability (asset), which are recognized as other
         pendapatan komprehensif lain, terdiri dari:                          comprehensive income, consists of:

         i.    Keuntungan dan kerugian aktuarial;                             i.    Actuarial gains and losses;
         ii.   Imbal hasil atas aset program, tidak                           ii.   The return on plan assets, excluding the
               termasuk jumlah yang dimasukkan dalam                                amounts included in net interest on the net
               bunga neto atas liabilitas (aset) imbalan                            defined benefit liability (asset); and
               pasti neto; dan

                                                            45
Page 49
                                                                           The original consolidated financial statements included herein are in
                                                                                                                          Indonesian language.

PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                         FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                         As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                     (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                          3.    MATERIAL ACCOUNTING POLICIES (continued)

     s.   Imbalan Kerja (lanjutan)                                          s.    Employee Benefits (continued)

          Imbalan Pascakerja (lanjutan)                                           Post-Employment Benefits (continued)

          iii.   Setiap perubahan dampak batas aset,                              iii. Any change in the effect of the asset
                 tidak termasuk jumlah yang dimasukkan                                 ceiling, excluding the amounts included in
                 dalam bunga neto atas liabilitas (aset)                               net interest on the net defined benefit
                 imbalan pasti neto.                                                   liability (asset).

          Pengukuran kembali atas liabilitas (aset)                               Remeasurements of the net defined benefit
          imbalan pasti neto yang diakui sebagai                                  liability    (asset)     recognized    in other
          pendapatan       komprehensif  lain tidak                               comprehensive income will not be reclassified
          direklasifikasi ke laba rugi pada periode                               to profit or loss in the next periods.
          berikutnya.

          Biaya jasa lalu diakui dalam laba rugi pada                             Past service costs are recognized in profit or
          tanggal yang lebih awal antara:                                         loss at the earlier of:

          •      Tanggal amendemen atau kurtailmen                                •     The date of the plan amendment or
                 program; dan                                                           curtailment; and
          •      Tanggal pada saat Grup mengakui biaya                            •     The date that the Group recognizes related
                 restrukturisasi terkait.                                               restructuring costs.

          Bunga neto ditentukan dengan mengalikan                                 Net interest is calculated by applying discount
          liabilitas (aset) imbalan pasti neto dengan                             rate to the net defined benefit liability (asset).
          tingkat diskonto. Grup mengakui perubahan                               The Group recognizes the following changes in
          atas liabilitas imbalan pasti neto berikut pada                         the net defined benefit obligation in the
          laporan laba rugi dan pendapatan komprehensif                           consolidated statement of profit or loss and
          lain konsolidasian:                                                     other comprehensive income:

          •      Biaya jasa yang terdiri dari biaya jasa kini,                    •     Service costs comprising current service
                 biaya jasa lalu dan keuntungan dan                                     costs, past-service costs and gains and
                 kerugian atas kurtailmen,                                              losses on curtailments;
          •      Beban atau pendapatan bunga neto, dan                            •     Net interest expense or income, and
          •      Pengukuran kembali.                                              •     Remeasurements

          Keuntungan atau kerugian atas kurtailmen atau                           Gains or losses on the curtailment or settlement
          penyelesaian suatu program imbalan pasti                                of a defined benefit plan are recognized when
          diakui ketika kurtailmen atau penyelesaian                              the curtailment or settlement occurs.
          terjadi.

          Kurtailmen terjadi apabila salah satu dari                              A curtailment occurs when an entity either:
          kondisi berikut terpenuhi:

          i.     Menunjukkan      komitmennya    untuk                            i.    Is demonstrably committed to make a
                 mengurangi secara signifikan jumlah                                    significant reduction in the number of
                 pekerja yang ditanggung oleh program;                                  employees covered by a plan; or
                 atau
          ii.    Mengubah ketentuan dalam program                                 ii.   Amends the terms of a defined benefit plan
                 imbalan pasti yang menyebabkan bagian                                  so that a significant element of future
                 yang signifikan dari jasa masa depan                                   service by current employees will no longer
                 pekerja tidak lagi memberikan imbalan                                  qualify for benefits, or will qualify only for
                 atau memberikan imbalan yang lebih                                     reduced benefits.
                 rendah.

          Penyelesaian program terjadi ketika Grup                                A settlement occurs when the Group enters into
          melakukan transaksi yang menghapuskan                                   a transaction that eliminates all further legal or
          semua kewajiban hukum atau konstruktif atas                             constructive obligation for part or all of the
          sebagian atau seluruh imbalan dalam program                             benefits provided under a defined benefit plan.
          imbalan pasti.


                                                                 46
Page 50
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                       3.    MATERIAL ACCOUNTING POLICIES (continued)

     s.   Imbalan Kerja (lanjutan)                                       s.    Employee Benefits (continued)

          Imbalan Jangka Panjang Lain                                          Other Long-term Benefits

          Grup memberikan manfaat imbalan jangka                               The Group provide other long-term benefits in
          panjang lainnya dalam bentuk bonus tambahan                          the form of additional bonuses and loyalty
          dan loyalty savings. Estimasi imbalan ini                            savings. Estimates of these benefits are
          diberikan berdasarkan penilaian kinerja dari                         awarded based on an assessment of the
          masing-masing pekerja, dan telah memenuhi                            performance of each employees, and has met
          kriteria yang ditentukan oleh Grup. Estimasi                         the criteria set by the Group. Estimates of these
          imbalan ini dicadangkan sepanjang masa kerja                         benefits are accrued over the period of
          karyawan, dengan menggunakan metode                                  employment, using an accounting method
          akuntasi yang sama dengan metode yang                                similar to the method used in the calculation of
          digunakan      dalam   perhitungan   imbalan                         post-employment benefits.
          pascakerja.

     t.   Provisi                                                        t.    Provisions

          Provisi diakui ketika Grup memiliki kewajiban                        Provisions are recognized when the Group has
          kini (baik bersifat hukum maupun bersifat                            a present obligation (legal or constructive) as a
          konstruktif) sebagai akibat peristiwa masa lalu,                     result of a past event, it is probable that the
          kemungkinan       besar     Grup     diharuskan                      Group will be required to settle the obligation,
          menyelesaikan kewajiban dan estimasi yang                            and a reliable estimate can be made of the
          andal mengenai jumlah kewajiban tersebut                             amount of the obligation.
          dapat dibuat.

          Jumlah yang diakui sebagai provisi adalah hasil                      The amount recognized as a provision is the
          estimasi terbaik pengeluaran yang diperlukan                         best estimate of the consideration required to
          untuk menyelesaikan kewajiban kini pada akhir                        settle the present obligation at the end of the
          periode pelaporan, dengan mempertimbangkan                           reporting period, taking into account the risks
          risiko dan ketidakpastian yang meliputi                              and uncertainties surrounding the obligation.
          kewajibannya. Apabila suatu provisi diukur                           Where a provision is measured using the cash
          menggunakan arus kas yang diperkirakan untuk                         flows estimated to settle the present obligation,
          menyelesaikan kewajiban kini, maka nilai                             its carrying amount is the present value of those
          tercatatnya adalah nilai kini dari arus kas.                         cash flows.

          Ketika beberapa atau seluruh manfaat ekonomi                         When some or all of the economic benefits
          untuk penyelesaian provisi yang diharapkan                           required to settle a provision are expected to be
          dapat dipulihkan dari pihak ketiga, aset terpisah                    recovered from a third party, a separate asset
          diakui apabila terdapat kepastian bahwa                              is recognized if it is virtually certain that
          penggantian akan diterima dan jumlah piutang                         reimbursement will be received and the amount
          dapat diukur secara andal.                                           of the receivable can be measured reliably.

     u. Biaya Pinjaman                                                   u. Borrowing Costs

          Biaya pinjaman yang dapat diatribusikan                              Borrowing costs that are directly attributable to
          langsung dengan perolehan, pembangunan                               the acquisition, construction or production of a
          atau      pembuatan        aset    kualifikasian,                    qualifying asset, if any, are capitalized as part
          dikapitalisasi sebagai bagian biaya perolehan                        of the cost of the related asset. Otherwise,
          aset tersebut. Biaya pinjaman lainnya diakui                         borrowing costs are recognized as expenses
          sebagai beban pada saat terjadinya. Biaya                            when incurred. Borrowing costs consist of
          pinjaman terdiri dari biaya bunga dan biaya lain                     interests and other financing charges that the
          yang ditanggung Grup sehubungan dengan                               Group incur in connection with the borrowing of
          peminjaman dana.                                                     funds.




                                                              47
Page 51
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                     3.    MATERIAL ACCOUNTING POLICIES (continued)

     u.   Biaya Pinjaman (lanjutan)                                    u.    Borrowing Costs (continued)

          Kapitalisasi biaya pinjaman dimulai pada saat                      Capitalization of borrowing costs commences
          aktivitas yang diperlukan untuk mempersiapkan                      when the activities to prepare the qualifying
          aset agar dapat digunakan sesuai dengan                            asset for its intended use are in progress, and
          maksudnya dan pengeluaran untuk aset                               the expenditures for the qualifying asset and
          kualifikasian dan biaya pinjamannya telah                          the borrowing costs have been incurred.
          terjadi. Kapitalisasi biaya pinjaman dihentikan                    Capitalization of borrowing costs ceases when
          pada saat selesainya seluruh aktivitas yang                        all the activies necessary to prepare the
          diperlukan      secara     substansial   untuk                     qualifying assets are substantially completed
          mempersiapkan aset kualifikasian agar dapat                        for their intended use.
          digunakan sesuai dengan maksudnya.

     v. Pelaporan Segmen                                               v. Segment Reporting

          Segmen operasi diidentifikasi berdasarkan                          Operating segments are identified on the basis
          laporan internal mengenai komponen dari Grup                       of internal reports about components of the
          yang secara regular ditelaah oleh “pengambil                       Group that are regularly reviewed by the chief
          keputusan     operasional”   dalam    rangka                       operating decision maker in order to allocate
          mengalokasikan sumber daya dan menilai                             resources to the segments and to assess their
          kinerja segmen operasi.                                            performances.

          Segmen operasi adalah suatu komponen dari                          An operating segment is a component of an
          entitas:                                                           entity:

          a)   yang terlibat dalam aktivitas bisnis dari                     a)    that engages in business activities from
               mana      diperoleh   pendapatan      dan                           which it may earn revenue and incur
               ditanggung beban (termasuk pendapatan                               expenses     (including   revenue     and
               dan beban terkait transaksi dengan                                  expenses relating to the transaction with
               komponen lain dari entitas yang sama);                              other components of the same entity);
          b)   yang hasil operasinya ditelaah secara                         b)    whose operating results are reviewed
               teratur   oleh    pengambil     keputusan                           regularly by the entity’s chief operating
               operasional yang bertanggung jawab                                  decision maker responsible for resources
               dalam pengalokasian sumber daya ke                                  allocation  to     the   segments     and
               segmen tersebut dan atas penilaian                                  assessment of its performance; and
               kinerjanya; dan
          c)   dimana tersedia informasi keuangan                            c)    for which discrete financial information is
               tersendiri yang secara jelas dapat                                  available.
               dipisahkan.

          Informasi yang digunakan oleh pengambil                            Information reported to the chief operating
          keputusan operasional dalam rangka alokasi                         decision maker for the purpose of resource
          sumber daya dan penilaian kinerja mereka                           allocation and assessment of their performance
          terfokus pada kategori per jenis industri.                         is specifically focused on the category by
                                                                             industry.

     w. Laba per Saham                                                 w. Earnings per Share

          Laba per saham dasar dihitung dengan                               Basic earnings per share is computed by
          membagi laba bersih yang diatribusikan kepada                      dividing net income attributable to the owners of
          pemilik entitas induk dengan jumlah rata-rata                      the parent entity by the weighted average
          tertimbang saham yang beredar pada tahun                           number of shares outstanding during the year.
          yang bersangkutan.




                                                            48
Page 52
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                PT FAP AGRI Tbk
DAN ENTITAS ANAK                                               AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                  FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                  As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)              (Expressed in Rupiah, unless otherwise stated)


3.   KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                  3.   MATERIAL               ACCOUNTING                  POLICIES
                                                                   (continued)

     x. Saham treasuri                                              x. Treasury shares

        Ketika Perusahaan membeli modal saham                             When the Company purchases the Company’s
        ekuitas Perusahaan (saham treasuri), imbalan                      equity share capital (treasury shares), the
        yang dibayar, termasuk biaya tambahan yang                        consideration paid, including any directly
        secara langsung dapat diatribusikan (dikurangi                    attributable incremental costs (net of income
        pajak penghasilan) dikurangkan dari ekuitas                       taxes) is deducted from equity attributable to the
        yang diatribusikan kepada pemilik ekuitas                         Company’s equity holders until the shares are
        Perusahaan sampai saham tersebut dibatalkan                       cancelled or reissued. Where such ordinary
        atau diterbitkan kembali. Ketika saham biasa                      shares are subsequently reissued, any
        tersebut selanjutnya diterbitkan kembali,                         consideration received, net of any directly
        imbalan yang diterima, dikurangi biaya                            attributable incremental transaction costs and
        tambahan transaksi yang terkait dan dampak                        the related income tax effects, is included in
        pajak penghasilan yang terkait dimasukkan                         equity attributable to the Company’s equity
        pada ekuitas yang dapat diatribusikan kepada                      holders.
        pemilik ekuitas Perusahaan.

     y. Peristiwa Setelah Periode Pelaporan                         y. Events After the Reporting Date

         Peristiwa setelah periode pelaporan yang                         Post year-end events that provide additional
         memberikan informasi tambahan tentang posisi                     information about the Group position at the
         Grup pada tanggal pelaporan (peristiwa                           reporting date (adjusting events) are reflected
         penyesuaian)     disajikan   dalam    laporan                    in the financial statements. Post year-end
         keuangan. Peristiwa setelah periode pelaporan                    events that are not adjusting events are
         yang bukan merupakan peristiwa penyesuaian,                      disclosed in the notes to consolidated financial
         diungkapkan dalam catatan atas laporan                           statements if its material.
         keuangan konsolidasian apabila material.




                                                         49
Page 53
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)



4.   PERTIMBANGAN SIGNIFIKAN MANAJEMEN                             4.    SIGNIFICANT MANAGEMENT JUDGMENT IN
     DALAM PENERAPAN KEBIJAKAN AKUNTANSI                                 APPLYING ACCOUNTING POLICIES AND
     DAN KETIDAKPASTIAN ESTIMASI                                         ESTIMATION UNCERTAINTY

     Dalam penerapan kebijakan akuntansi Grup, yang                      In the application of the Group accounting policies,
     dijelaskan dalam Catatan 3, direksi diwajibkan untuk                which are described in Note 3, the directors are
     membuat pertimbangan, estimasi dan asumsi                           required to make judgments, estimates and
     tentang jumlah tercatat aset dan liabilitas yang tidak              assumptions about the carrying amounts of assets
     tersedia dari sumber lain. Estimasi dan asumsi yang                 and liabilities that are not readily apparent from other
     terkait didasarkan pada pengalaman historis dan                     sources. The estimates and associated assumptions
     faktor-faktor lain yang dianggap relevan. Hasil                     are based on historical experience and other factors
     aktualnya mungkin berbeda dari estimasi tersebut.                   that are considered to be relevant. Actual results
                                                                         may differ from these estimates.

     Estimasi dan asumsi yang mendasari ditelaah                         The estimates and underlying assumptions are
     secara berkelanjutan. Revisi estimasi akuntansi                     reviewed on an ongoing basis. Revisions to
     diakui dalam periode dimana estimasi tersebut                       accounting estimates are recognized in the period
     direvisi jika revisi hanya mempengaruhi periode                     which the estimate is revised if the revision affects
     tersebut, atau pada periode revisi dan periode masa                 only that period, or in the period of the revision and
     depan jika revisi mempengaruhi periode saat ini dan                 future periods if the revision affects both current and
     masa depan.                                                         future periods.

     Berikut ini pertimbangan, selain dari estimasi yang                 The following judgments, apart from those involving
     telah diatur, dimana direksi telah membuat suatu                    estimations, that the directors have made in the
     proses penerapan kebijakan akuntansi Grup dan                       process of applying the Group accounting policies
     memiliki pengaruh paling signifikan terhadap jumlah                 and that have the most significant effect on the
     yang diakui dalam laporan keuangan konsolidasian.                   amounts recognized in the consolidated financial
                                                                         statements.

     Klasifikasi   aset    keuangan      dan    liabilitas              Classification of financial assets and financial
     keuangan                                                           liabilities

     Grup menetapkan klasifikasi atas aset dan liabilitas               The Group determines the classifications of certain
     tertentu sebagai aset keuangan dan liabilitas                      assets and liabilities as financial assets and
     keuangan dengan mempertimbangkan bila definisi                     financial liabilities by judging if they meet the
     yang ditetapkan PSAK 71 dipenuhi. Dengan                           definition set forth in PSAK 71. Accordingly, the
     demikian, aset keuangan dan liabilitas keuangan                    financial assets and financial liabilities are
     diakui sesuai dengan kebijakan akuntansi Grup                      accounted for in accordance with the Group
     seperti diungkapkan pada Catatan 3.                                accounting policies disclosed in Note 3.

     Pertimbangan Signifikan         dalam     Penerapan                 Significant Judgements in Applying Accounting
     Kebijakan Akuntansi                                                 Policies

     Penentuan Mata Uang Fungsional                                     Determination of Functional Currency

     Mata uang fungsional Grup adalah mata uang dari                    The functional currency of the Group is the
     lingkungan ekonomi utama dimana entitas tersebut                   currency from the primary economic environment
     beroperasi. Mata uang tersebut adalah mata uang                    where such entity operates. Those currencies are
     yang mempengaruhi pendapatan dan biaya Grup.                       the currencies that influence the revenues and
     Penentuan      mata    uang    fungsional    bisa                  costs of the Group. The determination of functional
     membutuhkan pertimbangan karena berbagai                           currency may require judgment due to various
     kompleksitas, antara lain, suatu entitas dapat                     complexity, among others, the entity may transact
     bertransaksi dalam lebih dari satu mata uang                       in more than one currency in its daily business
     dalam aktivitas usahanya sehari-hari. Berdasarkan                  activities. Measured on management assessment,
     penilaian manajemen, mata uang fungsional Grup                     the Group functional currency is Indonesian
     adalah Rupiah.                                                     Rupiah.




                                                              50
Page 54
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


4.   PERTIMBANGAN SIGNIFIKAN MANAJEMEN                          4.    SIGNIFICANT MANAGEMENT JUDGMENT IN
     DALAM PENERAPAN KEBIJAKAN AKUNTANSI                              APPLYING ACCOUNTING POLICIES AND
     DAN KETIDAKPASTIAN ESTIMASI (lanjutan)                           ESTIMATION UNCERTAINTY (continued)

     Ketidakpastian Estimasi                                          Estimation Uncertainty

     Informasi tentang estimasi dan asumsi yang                       Information about estimates and assumptions that
     mungkin memiliki pengaruh paling signifikan                      may have the most significant effect on recognition
     terhadap pengakuan dan pengukuran aset, liabilitas,              and measurement of assets, liabilities, income and
     pendapatan, dan beban disajikan di bawah ini. Hasil              expenses is provided below. Actual results may be
     aktual mungkin sangat berbeda.                                   substantially different.

     Taksiran Masa Manfaat Ekonomis Aset Tetap                        Estimated Useful Lives of Property, Plant and
     dan Tanaman Perkebunan                                           Equipment and Plantations

     Masa manfaat setiap aset tetap, aset biologis dan                The useful life of each of the items of the property,
     tanaman perkebunan ditentukan berdasarkan                        plant and equipment and plantations is estimated
     kegunaan yang diharapkan. Estimasi ini ditentukan                based on the period over which the asset is
     berdasarkan   evaluasi   teknis    internal   dan                expected to be available for use. Such estimation is
     pengalaman Grup atas aset sejenis.                               based on an internal technical evaluation and
                                                                      experience of the Group with similar assets.

     Masa manfaat setiap aset ditelaah secara periodik                The useful lives of each asset are reviewed
     dan disesuaikan apabila prakiraan berbeda dengan                 periodically and adjusted if different from previous
     estimasi sebelumnya, yang disebabkan keausan,                    estimates due to physical wear and tear, technical
     keusangan teknis dan komersial, hukum atau                       and commercial obsolescence, legal or other
     keterbatasan lainnya atas pemakaian aset. Namun                  limitations on the use of assets. However, it is
     terdapat kemungkinan bahwa kinerja keuangan di                   probable that future results of operations may be
     masa datang dapat dipengaruhi secara signifikan                  significantly affected by changes in the amount and
     oleh perubahan atas jumlah serta periode                         period of recording costs due on account of the
     pencatatan biaya yang diakibatkan karena faktor                  factors mentioned above.
     yang disebutkan diatas.

     Perubahan masa manfaat aset tetap dan tanaman                    Changes in the useful life of property, plant and
     perkebunan dapat mempengaruhi jumlah biaya                       equipment and plantations can affect the amount of
     penyusutan yang diakui dan penurunan nilai tercatat              depreciation expense that is recognized and
     aset. Tidak terdapat perubahan masa manfaat                      recorded asset impairment. There was no change in
     selama tahun berjalan.                                           the useful lives for the year.




                                                           51
Page 55
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


4.   PERTIMBANGAN SIGNIFIKAN MANAJEMEN                             4.    SIGNIFICANT MANAGEMENT JUDGMENT IN
     DALAM PENERAPAN KEBIJAKAN AKUNTANSI                                 APPLYING ACCOUNTING POLICIES AND
     DAN KETIDAKPASTIAN ESTIMASI (lanjutan)                              ESTIMATION UNCERTAINTY (continued)

     Ketidakpastian Estimasi (lanjutan)                                  Estimation Uncertainty (continued)

     Aset Biologis                                                       Biological Assets

     Perhitungan perubahan nilai wajar aset biologis                     The calculation of changes in fair value of biological
     tergantung pada asumsi utama, seperti: harga jual                   assets depends on the key assumptions, such as:
     dan jumlah hasil panen yang diestimasi berdasarkan                  selling price and harvest volume which is estimated
     kondisi terkini.                                                    based in recent condition.

     Penurunan Nilai Aset Non-Keuangan                                   Impairment of Non-Financial Assets

     Penelaahan atas penurunan nilai dilakukan apabila                   Impairment review is performed when there is an
     terdapat indikasi penurunan nilai. Penentuan nilai                  indication of asset impairment. The determination of
     pakai aset memerlukan estimasi mengenai arus kas                    the asset use value requires the estimation of cash
     yang diharapkan untuk dihasilkan dari penggunaan                    flows expected to result from the use of assets and
     aset dan penjualan aset tersebut. Walaupun asumsi                   the sale of assets. Although the assumptions used
     yang digunakan dalam mengestimasi nilai pakai                       in estimating the value of disposable assets are
     aset yang tercermin dalam laporan keuangan                          reflected in the consolidated financial statements
     konsolidasian dianggap telah sesuai dan wajar,                      have been considered appropriate and reasonable,
     namun perubahan signifikan atas asumsi ini akan                     but significant changes in these assumptions would
     berdampak material terhadap penentuan jumlah                        have a material effect on the determination of the
     yang dapat dipulihkan dan akibatnya kerugian                        amount that can be recovered and as a result,
     penurunan nilai yang timbul akan berdampak                          impairment losses affect the results of financial
     terhadap kinerja keuangan.                                          performance.

     Imbalan Pascakerja                                                  Post-Employment Benefits

     Penentuan        kewajiban    imbalan      pascakerja               The determination of post-employment benefits
     bergantung pada pemilihan asumsi tertentu yang                      obligation is dependent on selection of certain
     digunakan oleh aktuaris independen dalam                            assumptions used by independent actuaries in
     menghitung jumlah tersebut. Asumsi tersebut antara                  calculating such amounts. Those assumptions
     lain meliputi tingkat diskonto, tingkat kenaikan gaji,              include among others, discount rate, rate of salary
     tingkat kecacatan, usia pensiun dan tingkat                         increase, disability rate, pension age and mortality
     kematian. Hasil aktual yang berbeda dari asumsi                     rate. Actual results that differ from the Group’s
     Grup diakui segera dalam laba rugi pada saat                        assumptions directly recognized as profit or loss
     terjadinya. Walaupun asumsi Grup dianggap tepat                     when incurred, Althought the Group’s assumptions
     dan wajar, asumsi tersebut secara umum                              are deemed appropriate and reasonable, generally
     mempengaruhi beban yang diakui dan liabilitas yang                  affect the recognized expense and recorded
     dicatat pada periode mendatang. namun perubahan                     obligation in such future periods. however significant
     signifikan dalam asumsi yang digunakan dapat                        changes in assumptions used may materially affect
     berdampak material terhadap kewajiban imbalan                       the Group’s employee benefits liabilities.
     kerja Grup.

     Perpajakan                                                          Taxation

     Ketidakpastian atas interpretasi dari peraturan pajak               Uncertainties with respect to the interpretation of
     yang kompleks, perubahan peraturan pajak dan                        complex tax regulations, changes in tax laws, and
     jumlah timbulnya pendapatan kena pajak dimasa                       the amount and timing of future taxable income,
     depan, dapat menyebabkan penyesuaian di masa                        could necessitate future adjustments to tax income
     depan atas pendapatan dan beban pajak yang telah                    and expenses already recorded.
     dicatat.

     Estimasi   signifikan  juga    dilakukan    dalam                   Significant estimate are also required in determining
     menentukan penyisihan atas pajak penghasilan                        the provision for corporate income taxes. There are
     badan. Terdapat transaksi dan perhitungan tertentu                  certain transactions and computation for whose the
     yang penentuan pajak akhirnya adalah tidak pasti                    final tax determination is uncertain during the normal
     sepanjang kegiatan usaha normal.                                    course of business.


                                                              52
Page 56
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


4.   PERTIMBANGAN SIGNIFIKAN MANAJEMEN                          4.    SIGNIFICANT MANAGEMENT JUDGMENT IN
     DALAM PENERAPAN KEBIJAKAN AKUNTANSI                              APPLYING ACCOUNTING POLICIES AND
     DAN KETIDAKPASTIAN ESTIMASI (lanjutan)                           ESTIMATION UNCERTAINTY (continued)

     Ketidakpastian Estimasi (lanjutan)                               Estimation Uncertainty (continued)

     Aset Pajak Tangguhan yang Direalisasi                            Realization of Deferred Tax Assets

     Nilai tercatat aset pajak tangguhan ditelaah pada                The carrying value of deferred tax assets is reviewed
     setiap tanggal pelaporan dan diturunkan apabila                  at report time period-end and reduced to the extent
     terdapat kemungkinan bahwa jumlah laba fiskal                    that taxable income in the future cannot recover
     pada masa mendatang kemungkinan tidak memadai                    some or all of the deferred tax assets. However, if
     untuk mengkompensasi seluruh bagian dari aset                    there is no certainty that the Group will generate
     pajak tangguhan. Namun, jika tidak terdapat                      sufficient taxable income to recover some or all of
     keyakinan bahwa Grup akan menghasilkan laba                      the deferred tax assets, these assets are not
     fiskal yang memadai untuk mengkompensasi                         recognized in the consolidated statement of financial
     sebagian atau seluruh aset pajak tangguhan, aset                 position.
     tersebut tidak diakui di laporan posisi keuangan
     konsolidasian.

     Sewa                                                             Leases

     Grup menentukan jangka waktu sewa sesuai                         The Group determines the lease terms with any
     dengan periode selama adanya opsi dan kepastian                  periods covered by an option and reasonable
     yang   wajar     untuk   memperpanjang    atau                   certainty to extend or terminate the lease. The
     menghentikan sewa. Grup mempertimbangkan                         Group considers all relevant factors that support an
     semua faktor relevan yang mendukung keputusan                    economic decision to extend the lease.
     ekonomis untuk memperpanjang sewa.

     Selain itu, Grup juga mempertimbangkan                           The Group also considers the use of lease discount
     penggunaan tingkat diskonto sewa dalam                           rates while calculating the lease liabilities either at
     menghitung liabilitas sewa baik berdasarkan tingkat              an implicit discount rate if any or using an
     diskonto implisit jika tersedia atau menggunakan                 incremental discount rate if none.
     tingkat diskonto inkremental jika tidak tersedia.




                                                           53
Page 57
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                       FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                       As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)


5.    KAS DAN BANK                                                  5.    CASH ON HAND AND IN BANKS

                                               30/06/2024           31/12/2023

     Kas                                       2.889.340.717         2.844.300.764                                          Cash on hand

     Bank                                                                                                             Cash in banks
      Pihak ketiga                                                                                                   Third Party
       Rupiah                                                                                                       Rupiah
          PT Bank Central Asia Tbk            451.739.054.819       418.868.818.821                    PT Bank Central Asia Tbk
          PT Bank Rakyat Indonesia                                                                     PT Bank Rakyat Indonesia
             (Persero) Tbk                     36.064.778.078        53.224.748.876                             (Persero) Tbk
          PT Bank Mandiri (Persero) Tbk           170.756.229            96.911.275                PT Bank Mandiri (Persero) Tbk
          PT Bank Pembangunan                                                                            PT Bank Pembangunan
            Daerah Kalimantan Timur             3.122.270.852                          -             Daerah Kalimantan Timur

       Sub jumlah                            491.096.859.978        472.190.478.972                                             Sub total

       Dollar Amerika Serikat                                                                                   United State Dollar
         PT Bank Central Asia Tbk                 954.142.305            758.105.983                     PT Bank Central Asia Tbk

       Sub jumlah                                954.142.305             758.105.983                                           Sub total

       Dollar Singapura                                                                                           Singapore Dollar
         PT Bank Central Asia Tbk                              -           9.123.691                     PT Bank Central Asia Tbk

       Sub jumlah                                              -           9.123.691                                           Sub total

     Jumlah bank                             492.051.002.283       472.957.708.646                                   Total cash in banks

     Jumlah                                  494.940.343.000       475.802.009.410                                                   Total


      Kas dan setara kas terdiri dari saldo kas dan kas di                Cash and cash equivalent comprise of cash on hand
      bank yang tidak digunakan sebagai jaminan atau                      and cash in banks that are not used as a collateral
      dibatasi penggunaannya.                                             or are restricted in use.

6.    PIUTANG USAHA                                                 6.    TRADE RECEIVABLES

      a.    Berdasarkan pelanggan                                        a.   By customer

                                               30/06/2024           31/12/2023

           Pihak berelasi (Catatan 30)         41.891.141.867        79.686.742.395                            Related parties (Note 30)

           Pihak ketiga                                                                                                    Third parties
            PT Pilar Utama Labuan              45.057.647.024       76.385.939.155                              PT Pilar Utama Labuan
            PT Green Global Utama              11.057.361.178                    -                              PT Green Global Utama
            PT Smart Tbk                        6.002.151.656                    -                                        PT Smart Tbk
            PT Bumi Indawa Niaga                5.835.315.510                    -                               PT Bumi Indawa Niaga
            Lain - lain (masing - masing                                                                                   Others (each
              dibawah Rp7 miliar)                714.376.851        22.896.746.487                                  below Rp7 billion)

             Sub jumlah pihak ketiga           68.666.852.219       99.282.685.642                                 Sub total third parties

           Jumlah                            110.557.994.086       178.969.428.037                                                   Total




                                                             54
Page 58
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


6.    PIUTANG USAHA (lanjutan)                                     6.    TRADE RECEIVABLES (continued)


      b.    Berdasarkan umur                                            b.   By age

                                                30/06/2024         31/12/2023

           Belum jatuh tempo 1 bulan dan
             tidak mengalami penurunan nilai   110.448.578.888    136.615.076.762              Not yet due 1 month and not impaired
           Sudah jatuh tempo dan tidak
             mengalami penurunan nilai:                                                                Already due and not impaired:
             1 - 3 bulan                          109.415.198      42.354.351.275                                    1 - 3 months

           Jumlah                              110.557.994.086    178.969.428.037                                                   Total


      Berdasarkan hasil penelaahan kondisi piutang                       Based on the review of trade receivables conditions
      usaha pada akhir tahun, manajemen berkeyakinan                     at the end of the year, management
      bahwa cadangan penurunan nilai piutang usaha                       believes that provision for impairment in value of
      tidak diperlukan pada tanggal 30 Juni 2024 dan 31                  trade receivables is not necessary as of June 30,
      Desember 2023.                                                     2024 and December 31, 2023.

      Piutang usaha Grup tidak dijaminkan sebagai                        There were no portion of trade receivables of the
      jaminan utang bank.                                                Group which used as collateral for bank loan.

7.    PERSEDIAAN                                                   7.    INVENTORIES

                                                30/06/2024         31/12/2023

     Barang jadi (Catatan 27)                                                                                  Finished goods (Note 27)
       Minyak sawit                            381.554.050.995    443.033.521.603                                      Crude palm oil
       Minyak inti sawit                        34.394.706.064     23.986.330.140                                      Palm kernel oil
       Inti sawit                               24.663.349.944     23.964.328.925                                        Palm kernel
       Bungkil inti sawit                        3.954.187.566      2.083.880.785                                Palm kernel expeller

     Sub jumlah barang jadi                    444.566.294.569    493.068.061.453                              Sub total finished goods

     Persediaan dalam Perjalanan                22.843.773.747     10.428.487.415                                       Goods in transit

     Bahan penunjang                                                                                             Supporting material
       Pupuk dan bahan kimia                    59.107.239.787     97.635.613.325                            Fertilizer and chemicals
       Suku cadang dan perlengkapan lainnya     57.341.737.669     60.078.995.231                       Spareparts and other supplies
       Pembibitan                               31.329.742.928     24.233.834.534                                             Nursery
       Bahan bakar dan pelumas                   9.200.236.131      8.750.567.481                                  Fuel and lubricants

     Sub jumlah Bahan Penunjang                156.978.956.515    190.699.010.571                        Sub total supporting material

     Jumlah                                    624.389.024.831    694.195.559.439                                                    Total




                                                             55
Page 59
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


7.    PERSEDIAAN (lanjutan)                                        7.    INVENTORIES (continued)

      Persediaan      telah   diasuransikan   terhadap             Inventories     are     covered   by     insurance
      risiko    kerugian    akibat    kebakaran    dan             against    losses   from   fire and  other    risks
      risiko lainnya berdasarkan suatu paket polis                 under blanket policies as of June 30, 2024 and
      tertentu     masing-masing       pada     tanggal            December 31, 2023, with an insured value of
      30 Juni 2024 dan 31 Desember 2023 dengan nilai               Rp402,940,000,000 and Rp404,688,130,607.
      pertanggungan sebesar Rp402.940.000.000 dan
      Rp404.688.130.607.

      Berdasarkan hasil penelaahan kondisi persediaan              Based on the review of inventory conditions
      pada akhir tahun, manajemen berkeyakinan bahwa               at the end of the year, management believes
      cadangan penurunan nilai persediaan tidak                    that provision for impairment in value of inventories is not
      diperlukan pada tanggal 30 Juni 2024 dan 31                  necessary as of June 30, 2024 and December 31, 2023.
      Desember 2023.

      Persediaan Grup tidak dijaminkan sebagai jaminan             There were no portion of inventories of the Group which
      utang bank.                                                  used as collateral for bank loan.

8.    ASET BIOLOGIS                                                18. BIOLOGICAL ASSETS

                                              30/06/2024           31/12/2023

     Saldo awal                             143.690.470.900      154.304.144.442                                     Beginning balance
     Rugi yang timbul dari
       perubahan nilai wajar                                                                                    Loss from the changes
       dikurangi biaya untuk                                                                                 of fair value less selling
       menjual yang diakui                                                                                            cost recognized
       pada laba rugi                        34.132.315.793      (10.613.673.542)                                      in profit or loss

     Saldo akhir                            177.822.786.693      143.690.470.900                                       Ending balance


      Produk agrikultur bertumbuh berupa Tandan Buah                     Growing agricultural product comprise of Fresh Fruit
      Segar (TBS) yang tumbuh pada tanaman kelapa                        Bunches (FFB) grown on oil palm plantations. The
      sawit. Nilai wajar produk agrikultur bertumbuh                     fair value of growing agricultural product is
      ditentukan berdasarkan estimasi harga jual dan                     determined based on estimated selling price and
      potensi jumlah TBS, dikurangi dengan biaya yang                    potential volume of FFB, less cost incurred during
      terjadi selama masa pertumbuhan sampai dipanen                     growing period until harvested cost to sell.
      dan biaya untuk menjual.

      Asumsi utama yang digunakan dalam menentukan                       Key assumptions used in determining the fair value
      nilai wajar produk agrikultur:                                     of growing agricultural product:

      - Harga jual hasil panen (kenaikan/penurunan                        -   Selling      price    of    harvested      product
        jumlah hasil panen akan mempengaruhi                                  (increase/decrease in selling price would impact
        kenaikan/penurunan nilai wajar produk agrikultur                      in the fair value of growing agricultural product)
        bertumbuh)                                                        -   Volume           of      harvested         product
      - Jumlah hasil panen (kenaikan/penurunan jumlah                         (increase/decrease in selling price would impact
        hasil     panen       akan       mempengaruhi                         in the fair value of growing agricultural product)
        kenaikan/penurunan nilai wajar produk agrikultur
        bertumbuh)

      Nilai wajar aset biologis berdasarkan hirarki nilai                The fair value of biological assets are based on fair
      wajar tingkat 3.                                                   value hierarchy level 3.




                                                            56
Page 60
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                PT FAP AGRI Tbk
DAN ENTITAS ANAK                                               AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                  FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                  As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)              (Expressed in Rupiah, unless otherwise stated)



19. UANG MUKA DAN BIAYA DIBAYAR DIMUKA                         19. ADVANCES AND PREPAID EXPENSES

                                           30/06/2024           31/12/2023

  Uang muka                                                                                                           Advances
     Uang muka kontraktor                91.799.158.149       107.290.249.996                           Advances to contractors
     Uang muka pembelian                                                                          Advances of purchase property
       aset                               4.467.697.841        25.230.858.448                            plant and equipment
     Uang muka pembelian                                                                                 Advances of purchase
       persediaan                                     -        72.747.900.002                                       inventory
     Uang muka perjalanan dinas             154.480.000           200.204.141                                  Travel advances
     Uang muka lain-lain                 37.554.072.525         8.897.677.973                                   Other advances

     Sub jumlah uang muka               133.975.408.515       214.366.890.560                                  Sub total advances


  Biaya dibayar dimuka                                                                                          Prepaid expenses
       Pengangkutan                         731.178.000        42.091.340.098                                             Freight
       Asuransi                           2.456.221.676         5.662.470.166                                          Insurance
       Sewa                                 119.444.443           186.786.787                                             Rental

  Sub jumlah biaya dibayar di muka        3.306.844.119        47.940.597.051                         Sub total prepaid expenses

  Jumlah                                137.282.252.634       262.307.487.611                                                  Total


10. PIUTANG   DAN           UTANG     PERKEBUNAN               10. RECEIVABLES    AND    PAYABLES                                  OF
    KEMITRAAN                                                      PARTNERSHIP PLANTATION

    Akun ini merupakan piutang dan utang kepada                     This account represents accounts receivables and
    koperasi - koperasi sehubungan kerjasama                        account payables to cooperatives in relation to the
    pembangunan, pengelolaan dan pemeliharaan                       development cooperation, management and
    perkebunan kelapa sawit dengan pola kemitraan                   maintenance of oil palm plantations with a
    (Catatan 37), dengan rincian sebagai berikut:                   partnership scheme (Note 37), with details, as
                                                                    follows:

                                           30/06/2024           31/12/2023

  Piutang perkebunan kemitraan                                                                Partnership plantation receivables
    Koperasi Pejiq Pekat                 92.832.953.831       87.324.202.474                           Koperasi Pejiq Pekat
    Koperasi Ding Bayau                  88.626.010.718       83.754.454.845                           Koperasi Ding Bayau
    Koperasi Tikung Sejahtera            78.344.334.891       74.200.573.039                     Koperasi Tikung Sejahtera
    Koperasi Tulin Mandiri               74.631.406.256       75.114.953.666                          Koperasi Tulin Mandiri
    Koperasi Kameq Pejiq Kenap           68.468.513.823       61.458.338.640                   Koperasi Kameq Pejiq Kenap
    Koperasi Hinaq Harin                 17.913.610.461       16.684.245.542                           Koperasi Hinaq Harin
    Koperasi Datai Lino                   5.599.130.220        4.149.556.294                            Koperasi Datai Lino
    Koperasi Pekat Umaaq                  4.678.556.061        8.515.715.021                         Koperasi Pekat Umaaq
    Koperasi Mukti Utama                              -       22.628.301.931                          Koperasi Mukti Utama

  Jumlah piutang perkebunan                                                                        Total partnership plantation
    kemitraan                           431.094.516.261      433.830.341.452                                     receivables
                                                                                Jumlah utang
  Utang perkebunan kemitraan                                                                   Partnership plantation payables
    Koperasi Mukti Utama                  25.494.225.716                    -                         Koperasi Mukti Utama
    Koperasi Londong Raya Sejathera        2.695.092.153        2.460.032.041              Koperasi Londong Raya Sejathera

  Jumlah utang perkebunan                                                                          Total partnership plantation
    kemitraan                             28.189.317.869        2.460.032.041                                       payables
                                                                             Jumlah utang

    Piutang dan utang perkebunan kemitraan Grup tidak               There were no portion of partnership plantation
    dijaminkan sebagai jaminan utang bank.                          receivables and payables of the Group which used
                                                                    as collateral for bank loan.




                                                        57
Page 61
                                                                                                            The original consolidated financial statements included herein are in
                                                                                                                                                           Indonesian language.

     PT FAP AGRI Tbk                                                                                  PT FAP AGRI Tbk
     DAN ENTITAS ANAK                                                                                 AND ITS SUBSIDIARIES
     CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
     KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
     Tanggal 30 Juni 2024 dan 2023                                                                    As of June 30, 2024 and 2023
     (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                (Expressed in Rupiah, unless otherwise stated)



     11. PROYEK PERKEBUNAN KEMITRAAN                                                                  11. PARTNERSHIP PLANTATION PROJECT
                                                                                  30/06/2024

                                         Saldo awal/
                                         Beginning      Penambahan/       Pengurangan/          Reklasfikasi/     Konversi/                    Saldo akhir/
                                          balance         Addition         Deduction           Reclassification*) Conversi                    Ending balance
         Tanaman perkebunan             145.046.847.851 14.189.056.565                -    (110.873.490.449)                          -        48.362.413.967                     Plantations

         Jumlah                         145.046.847.851 14.189.056.565                -       (110.873.490.449)                           -    48.362.413.967                            Total




                                                                                               31/12/2023

                                             Saldo awal/                                                                              Saldo akhir/
                                             Beginning          Penambahan/       Reklasifikasi/              Konversi/                 Ending
                                              balances            Addition       Reclassification*)           Conversi                 balances

         Tanaman perkebunan                127.832.743.385      41.759.328.060    (7.946.477.344)           (16.418.746.250)         145.046.847.851                              Plantations

         Jumlah                            127.832.743.385      41.759.328.060    (7.946.477.344)           (16.418.746.250)         145.046.847.851                                    Total

*)                                                                                                                *)
     Reklasifikasi ke aset tanaman perkebunan (Catatan 12)                                                             Reclassifications to plantatations (Note 12)

         Rincian mutasi luas areal proyek perkebunan                                                         The details of changes in the partnership plantation
         kemitraan adalah sebagai berikut:                                                                   project area are as follows:

                                                         Tanaman
                                                           belum                   Tanaman                             Jumlah
                                                       menghasilkan/             menghasilkan/                        tanaman
                                                         Immature                   Mature                          perkebunan/
                                                        plantations               plantations                     Total plantations
                                                             (Ha)                         (Ha)                               (Ha)
         Saldo per 1 Januari 2023                               1.341,00                          100,00                         1.441,00                   Balance as of January 1, 2023
         Reklasifikasi                                           (140,00)                         140,00                                -                                  Reclassification
         Pengurangan                                                   -                          (50,20)                          (50,20)                                      Deduction
         Konversi                                                      -                         (189,80)                         (189,80)                                   Conversions

         Saldo per 31 Desember 2023                             1.201,00                               -                         1.201,00               Balance as of December 31, 2023
         Pengurangan                                             (926.00)                              -                          (926,00)                                     Deduction
         Reklasifikasi                                          - (72,00)                          72,00                                -                                Reclassifications
         Saldo per 30 Juni 2024                                     203,00                         72.00                            275,00                      Balance as of June 30, 2024



           Rincian konversi proyek perkebunan kemitraan                                                      The details of the partnership plantation conversion
           adalah adalah sebagai berikut:                                                                    project are as follows:

                                                                         30/06/2024                   31/12/2023

         Nilai konversi                                                                   -          16.418.746.250                                                    Conversions value
         Jumlah tercatat                                                                  -         (16.446.877.499)                                                      Carrying value

         Rugi konversi                                                                    -)               (28.131.249)                                             Loss on conversion




                                                                                          58
Page 62
                                                                                                The original consolidated financial statements included herein are in
                                                                                                                                               Indonesian language.

PT FAP AGRI Tbk                                                                           PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                          AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                             As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah, unless otherwise stated)


11. PROYEK PERKEBUNAN KEMITRAAN (lanjutan)                                                11. PARTNERSHIP                            PLANTATION                  PROJECT
                                                                                              (continued)

    Rincian biaya yang dikapitalisasi ke proyek                                                  The details of cost capitalized to the partnership
    perkebunan kemitraan adalah sebagai berikut:                                                 plantation project are as follows:

                                                             30/06/2024                   31/12/2023

                                                                                                                                        Depreciation of property, plant
  Penyusutan aset tetap (Catatan 13)                          1.062.986.017               3.607.767.799                                   and equipment (Note 13)
  Beban keuangan (Catatan 29)                                   974.505.418               5.186.506.747                                      Finance costs (Note 29)
  Beban umum kebun                                            1.833.014.345               4.279.511.630                                  Plantation general expenses

  Jumlah                                                      3.870.505.780           13.073.786.176                                                                    Total


    Tanaman proyek perkebunan kemitraan digunakan                                                The plantation project crop is used as collateral for
    sebagai jaminan atas fasilitas kredit yang diperoleh                                         the credit facilities obtained from PT Bank Central
    dari PT Bank Central Asia Tbk (Catatan 20).                                                  Asia Tbk (Note 20).

    Tanaman proyek perkebunan kemitraan belum                                                    The partnership plantation project plantations have
    diasuransikan terhadap risiko kerugian akibat                                                not been insured against the risks of fire, disease
    kebakaran, wabah penyakit dan risiko kerugian                                                and other risks of loss.
    lainnya.

    Berdasarkan evaluasi manajemen, tidak terdapat                                               Based on management’s evaluation, there were no
    kejadian   atau    perubahan   keadaan     yang                                              events or changes in circumstances indicating a
    mengindikasikan adanya penurunan nilai tanaman                                               decline in the partnership plantation project
    proyek perkebunan kemitraan pada tanggal                                                     value as of June 30, 2024 and December 31, 2023.
    30 Juni 2024 dan 31 Desember 2023.

12. TANAMAN PERKEBUNAN                                                                    12. PLANTATIONS
                                                                             30/06/2024
                                       Saldo awal/
                                       Beginning          Penambahan/        Pengurangan/              Reklasifikasi/     Saldo akhir/
                                        balance             Additions         Deductions              Reclassifications Ending balance

  Tanaman menghasilkan                                                                                                                                       Mature plantations
     Biaya perolehan                5.076.230.062.204                   -                   -         355.608.678.839      5.431.838.741.043                 Acquisition cost
     Akumulasi penyusutan          (2.065.216.030.795)   (128.247.059.774)                  -                             (2.193.463.090.569)       Accumulated depreciation

  Sub jumlah                       3.011.014.031.409                                                                      3.238.375.650.474                             sub total

  Tanaman Belum Menghasilkan         338.268.430.832      51.177.230.041                    -         (244.735.188.390)     144.710.472.483                 Immature plantations

  Jumlah tercatat                  3.349.282.462.241                                                                      3.383.086.122.957                      Carrying value



    *)                                                                                           *)
         Termasuk reklasifikasi dari proyek perkebunan kemitraan sebesar                                 Including reclassifications from partnership plantation project amounting
         Rp110.873.490.449 (Catatan 11).                                                                 to Rp110,873,490,449 (Note 11).

                                                                                  31/12/2023

                                               Saldo awal/
                                               Beginning          Penambahan/          Reklasifikasi/               Saldo akhir/
                                                balance             Addition         Reclassification              Ending balance

  Tanaman menghasilkan                                                                                                                                    Mature plantations
     Biaya perolehan                       4.921.788.474.752                    -     154.441.587.452*) 5.076.230.062.204                                  Acquisition cost
     Akumulasi penyusutan                 (1.810.652.431.129)    (254.563.599.666)                  - (2.065.216.030.795)                         Accumulated depreciation

  Sub jumlah                               3.111.136.043.623     (254.563.599.666)    154.441.587.452            3.011.014.031.409                                    Sub total

  Tanaman belum menghasilkan                373.263.117.595       111.500.423.345     (146.495.110.108)            338.268.430.832                        Immature plantations

  Jumlah tercatat                          3.484.399.161.218                                                     3.349.282.462.241                             Carrying value




    *)                                                                                           *)
         Termasuk reklasifikasi dari proyek perkebunan kemitraan sebesar                                 Including reclassifications from partnership plantation project amounting
         Rp7.946.477.344 (Catatan 11).                                                                   to Rp7,946,477,344 (Note 11).




                                                                             59
Page 63
                                                                             The original consolidated financial statements included herein are in
                                                                                                                            Indonesian language.

PT FAP AGRI Tbk                                                        PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                       AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                          FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                          As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                      (Expressed in Rupiah, unless otherwise stated)



12. TANAMAN PERKEBUNAN (lanjutan)                                      12. PLANTATIONS (continued)

    Beban     penyusutan   tanaman   menghasilkan                    d        Depreciation expenses of mature plantations, were
    dialokasikan ke beban pokok penjualan (Catatan                            allocated to cost of goods sold (Note 27).
    27).

    Rincian mutasi luas areal tanaman perkebunan                              The details of changes in the plantation area are as
    adalah sebagai berikut:                                                   follows:
                                    Tanaman belum          Tanaman                   Jumlah
                                     menghasilkan/       menghasilkan/              tanaman
                                       Immature             Mature                perkebunan/
                                      plantations         plantations           Total plantations

                                         (Ha)                 (Ha)                     (Ha)

  Saldo per 1 Januari 2023                  4.786,97             72.596,78               77.383,75             Balance as of January 1, 2023
  Penambahan                                       -                 50,20                   50,20                                   Addition
  Reklasifikasi                            (1.364,51)             1.364,51                       -                            Reclassification

  Saldo per 31 Desember 2023                3.422,46             74.011,49               77.433,95         Balance as of December 31, 2023
  Penambahan                                  926,00                  6,00                  932,00                                 Additions
  Reklasifikasi                            (3.483,20)             3.483,20                       -                          Reclassifications

  Saldo per 30 Juni 2024                        865,26           77.500,69               78.365,95                 Balance as of June 30, 2024



    Grup telah memperoleh sertifikat Hak Guna Usaha                           The details of the Group’s Land Cultivation Rights
    (“HGU”) dengan rincian sebagai berikut:                                   (“LCR”) certificates are as follows:


                                                                                                          Areal/
    Entitas/       Nomor HGU/           Nomor Surat Keputusan/                    Lokasi/                 Area                  Berakhir/
     Entity        LCR Number           Decision Letter Number                   Location                  (Ha)                 Expired
   BSI                     2              46/HGU/BPN/2003                Nunukan -                      13.404,00           18 September 2038/
                                                                         Kalimantan Utara/                                  September 18, 2038
                                                                         North Kalimantan
   KHL                     1              85/HGU/BPN/2004                Nunukan -                      20.000,00              29 Oktober 2039/
                                                                         Kalimantan Utara/                                     October 29, 2039
                                                                         North Kalimantan
   BHP                     1              83/HGU/BPN/2004                Nunukan -                        6.061,00             29 Oktober 2039/
                                                                         Kalimantan Utara/                                     October 29, 2039
                                                                         North Kalimantan
   TMSJ                    1              84/HGU/BPN/2004                Nunukan -                        7.982,18             29 Oktober 2039/
                                                                         Kalimantan Utara/                                     October 29, 2039
                                                                         North Kalimantan
   MCA              65, 66, 67,           2/HGU/BPN RI/2014              Kutai Barat -                    2.598,20              13 Januari 2049/
                    68, 69, 70                                           Kalimantan Timur/                                     January 13, 2049
                                                                         East Kalimantan
   MCA              56, 57, 58,          14/HGU/BPN RI/2014              Kutai Barat -                    7.051,70              20 Januari 2049/
                    59, 60, 61,                                          Kalimantan Timur/                                     January 20, 2049
                    62, 63, 64                                           East Kalimantan
   BBS                71, 72,            27/HGU/BPN RI/2014              Kutai Barat -                  18.367,44               29 Januari 2049/
                      73, 74                                             Kalimantan Timur/                                     January 29, 2049
                                                                         East Kalimantan
   MCA              75, 76, 77,          70/HGU/BPN RI/2014              Kutai Barat -                    6.395,42                  2 April 2049/
                    78, 79, 80                                           Kalimantan Timur/                                          April 2, 2049
                                                                         East Kalimantan
   KPL            196, 197, 198,        32/HGU/KEM-ATR/2017              Kutai Barat -                  10.564,41                 9 Maret 2052/
                  199, 200, 201,                                         Kalimantan Timur/                                        March 9, 2052
                  202, 203, 204                                          East Kalimantan
   KPL            205, 206, 207,        33/HGU/KEM-ATR/2017              Kutai Barat -                    3.600,88                9 Maret 2052/
                  208, 209, 210,                                         Kalimantan Timur/                                        March 9, 2052
                  211, 212, 213,                                         East Kalimantan
                  214, 215, 216
   BHP            45, 46, 47, 48,    29/HGU/KEM-ATR/BPN/IV/2019          Nunukan -                        2.158,51                 22 April 2054/
                  49, 50, 51, 52                                         Kalimantan Utara/                                         April 22, 2054
                                                                         North Kalimantan
   RAKA               10018          51/HGU/KEM-ATR/BPN/VIII/2021        Kampar - Riau                    3.293,60             26 Agustus 2056/
                                                                                                                                August 26, 2056

                                                              60
Page 64
                                                                                                The original consolidated financial statements included herein are in
                                                                                                                                               Indonesian language.

PT FAP AGRI Tbk                                                                             PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                               As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah, unless otherwise stated)



12. TANAMAN PERKEBUNAN (lanjutan)                                                           12. PLANTATIONS (continued)

    Manajemen berkeyakinan bahwa HGU tersebut                                                     Management believes that LCR can be extended
    dapat diperpanjang pada saat masa berlakunya                                                  upon their expired.
    berakhir.

    Rincian biaya yang dikapitalisasi ke tanaman belum                                            The details of cost capitalized to immature plantation
    menghasilkan adalah sebagai berikut:                                                          are as follows:

                                                               30/06/2024                   31/12/2023

  Beban keuangan (Catatan 29)                                  5.094.767.720              10.352.416.855                                Finance costs (Note 29)
                                                                                                                                  Depreciation of property, plant
  Penyusutan aset tetap (Catatan 13)                           5.013.734.275               9.599.160.044                              and equipment (Note 13)
  Beban umum kebun                                             3.260.018.900              12.662.640.563                            Plantation general expenses
  Cadangan Imbalan Kerja (Catatan 22)                            371.341.951               1.520.505.009              Provision for employee benefits (Note 22)

  Jumlah                                                      13.739.862.846              34.134.722.471                                                             Total


    Tanaman       perkebunan        dan      sertifikat                                           Plantations and Land Cultivation Rights (“LCR”)
    Hak Guna Usaha (“HGU”) digunakan sebagai                                                      certificate are used as collateral for credit investment
    jaminan atas fasilitas kredit yang diperoleh dari                                             facilities               obtained                   from
    PT Bank Central Asia Tbk (Catatan 20).                                                        PT Bank Central Asia Tbk (Note 20).

    Tanaman perkebunan belum              diasuransikan                                           Plantations have not been insured against the risks
    terhadap risiko kerugian akibat kebakaran, wabah                                              of fire, disease and other risks of loss.
    penyakit dan risiko kerugian lainnya.

    Berdasarkan     evaluasi   manajemen,      tidak                                              Based on management’s evaluation, there
    terdapat kejadian atau perubahan keadaan                                                      were no events or changes in circumstances
    yang     mengindikasikan   adanya    penurunan                                                indicating a decline in plantation value as of
    nilai   tanaman    perkebunan   pada    tanggal                                               June 30, 2024 and December 31, 2023.
    30 Juni 2024 dan 31 Desember 2023.
13. ASET TETAP                                                                              13. PROPERTY, PLANT AND EQUIPMENT
                                                                             30/06/2024
                                      Saldo awal/
                                      Beginning          Penambahan/        Pengurangan/         Reklasifikasi/       Saldo akhir/
                                       balance             Additions         Deductions         Reclassifications   Ending balance

  Biaya perolehan                                                                                                                                         Acquisition cost
  Pemilikan langsung                                                                                                                                     Direct acquisitions
     Tanah                           55.053.641.350                    -                  -                    -       55.053.641.350                               Land
     Pabrik Kelapa Sawit          1.276.919.724.692        1.643.532.000                  -                    -    1.278.563.256.692                    Palm oil factory
     Bangunan dan Infrastruktur   3.059.983.081.576        3.914.137.132                  -        3.056.672.000    3.066.953.890.708       Buildings and infrastructures
     Mesin dan Instalasi            108.432.768.549        1.177.370.344                  -                    -      109.610.138.893        Machinery and installations
     Alat Pertanian                 155.255.418.667          599.473.831                  -                    -      155.854.892.498                  Farm equipments
     Alat Pengangkutan              458.360.357.945       25.950.294.021      (408.642.069)                    -      483.902.009.897                           Vehicles
     Inventaris                     102.466.327.707        5.078.117.414        (8.500.000)                    -      107.535.945.121              Furniture and fixtures

  Sub jumlah                       5.216.471.320.486      38.362.924.742      (417.142.069)        3.056.672.000    5.257.473.775.159                               Sub total

  Aset dalam penyelesaian                                                                                                                               Assets in progress
     Persiapan Lahan                158.493.391.462        4.956.653.949                    -                  -      163.450.045.411                      Land clearing
     Bangunan dan Infrastruktur     105.831.034.011       94.075.583.835                    -    (3.056.672.000)      196.849.945.846       Buildings and infrastructures
     Mesin dan Instalasi                478.923.485          738.595.053                    -                  -        1.217.518.538        Machinery and installations
     Pabrik Kelapa Sawit              3.314.169.213       57.791.460.250                    -                  -       61.105.629.463                    Palm oil factory

  Sub jumlah                        268.117.518.171     157.562.293.087                     -     (3.056.672.000)     422.623.139.258                               Sub total

  Jumlah biaya perolehan          5.484.588.838.657     195.925.217.829     (417.142.069)                      -     5.680.096.914.417                Total acqusition cost


  Akumulasi penyusutan                                                                                                                         Accumulated depreciation
  Pemilikan langsung                                                                                                                                       Direct acquisition
     Pabrik Kelapa Sawit            (385.427.000.794)    (40.685.581.448)                -                      -   (426.112.582.242)                     Palm oil factory
     Bangunan dan Infrastruktur   (1.954.532.097.081)   (106.404.882.133)                -                      - (2.060.936.979.214)        Buildings and infrastructures
     Mesin dan Instalasi             (44.278.590.189)     (2.051.323.340)                -                      -    (46.329.913.529)         Machinery and installations
     Alat Pertanian                 (148.915.312.233)     (1.257.029.381)                -                      -   (150.172.341.614)                   Farm equipments
     Alat Pengangkutan              (275.482.952.701)    (27.375.027.873)      140.453.963                      -   (302.717.526.611)                            Vehicles
     Inventaris                      (73.577.156.044)     (4.151.836.506)          283.333                      -    (77.728.709.217)               Furniture and fixtures

  Jumlah akumulasi penyusutan     (2.882.213.109.042)   (181.925.680.681)      140.737.296                     -    (3.063.998.052.427)   Total accumulated depreciation

  Jumlah tercatat                 2.602.375.729.615                                                                  2.616.098.861.990                       Carrying value




                                                                               61
Page 65
                                                                                                The original consolidated financial statements included herein are in
                                                                                                                                               Indonesian language.

PT FAP AGRI Tbk                                                                            PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                              As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah, unless otherwise stated)


13. ASET TETAP (lanjutan)                                                                  13. PROPERTY,                     PLANT         AND          EQUIPMENT
                                                                                               (continued)
                                                                             31/12/2023

                                     Saldo awal/
                                     Beginning          Penambahan/         Pengurangan/         Reklasifikasi/         Saldo akhir/
                                      balance             Additions          Deductions         Reclassifications     Ending balance

  Biaya perolehan                                                                                                                                         Acquisition cost
  Pemilikan langsung                                                                                                                                     Direct acquisitions
     Tanah                           55.053.641.350                   -                   -                    -        55.053.641.350                              Land
     Pabrik kelapa sawit          1.054.639.228.933       5.567.010.889                   -      216.713.484.870     1.276.919.724.692                   Palm oil factory
     Bangunan dan infrastruktur   2.891.533.798.705     149.711.902.714         (10.633.333)      18.748.013.490     3.059.983.081.576      Buildings and infrastructures
     Mesin dan instalasi             98.025.465.463      10.062.846.774        (430.282.000)         774.738.312       108.432.768.549       Machinery and installations
     Alat pertanian                 158.402.327.311       2.809.790.934      (5.956.699.578)                   -       155.255.418.667                 Farm equipments
     Alat pengangkutan              377.671.854.516     107.751.586.936     (27.063.083.507)                   -       458.360.357.945                          Vehicles
     Inventaris                      92.155.416.577      10.334.580.800         (40.500.000)          16.830.330       102.466.327.707             Furniture and fixtures

  Sub jumlah                      4.727.481.732.855     286.237.719.047     (33.501.198.418)     236.253.067.002     5.216.471.320.486                            Sub total

  Aset dalam penyelesaian                                                                                                                               Assets in progress
     Persiapan lahan                142.832.298.125      15.661.093.337                    -                    -      158.493.391.462                     Land clearing
     Bangunan dan infrastruktur      28.006.654.180      92.743.238.585                    -      (14.918.858.754)     105.831.034.011      Buildings and infrastructures
     Mesin dan instalasi             10.819.103.312         478.268.488                    -      (10.818.448.315)         478.923.485       Machinery and installations
     Pabrik kelapa sawit            175.762.420.144      38.067.509.002                    -     (210.515.759.933)       3.314.169.213                   Palm oil factory

  Sub jumlah                        357.420.475.761     146.950.109.412                    -     (236.253.067.002)     268.117.518.171                            Sub total

  Jumlah biaya perolehan          5.084.902.208.616     433.187.828.459     (33.501.198.418)                     -   5.484.588.838.657                Total acqusition cost

  Akumulasi penyusutan                                                                                                                         Accumulated depreciation
  Pemilikan langsung                                                                                                                                     Direct acquisitions
     Pabrik kelapa sawit            (307.900.838.007)    (77.526.162.787)                -                      -      (385.427.000.794)                 Palm oil factory
     Bangunan dan infrastruktur   (1.745.770.912.497)   (208.771.817.917)       10.633.333                      -    (1.954.532.097.081)    Buildings and infrastructures
     Mesin dan instalasi             (40.786.060.562)     (3.922.811.627)      430.282.000                      -       (44.278.590.189)     Machinery and installations
     Alat pertanian                 (152.022.584.733)     (2.849.427.078)    5.956.699.578                      -      (148.915.312.233)               Farm equipments
     Alat pengangkutan              (249.341.191.164)    (53.130.346.651)   26.988.585.114                      -      (275.482.952.701)                        Vehicles
     Inventaris                      (63.938.071.209)     (9.679.584.835)       40.500.000                              (73.577.156.044)           Furniture and fixtures

  Jumlah akumulasi penyusutan     (2.559.759.658.172)   (355.880.150.895)   33.426.700.025                      -    (2.882.213.109.042)    Total accumulated depreciation

  Jumlah tercatat                 2.525.142.550.444                                                                  2.602.375.729.615                      Carrying value




    Penyusutan aset tetap dialokasikan sebagai berikut:                                           Depreciation of property, plant and equipment is
                                                                                                  allocated are as follows:
                                                               30/06/2024                  31/12/2023

  Dibebankan ke beban pokok
    penjualan (Catatan 27)                                   174.725.617.303              340.587.067.921                  Charged to cost of good sold (Note 27)
  Dikapitalisasi ke tanaman belum                                                                                                        Capitalized to immature
    menghasilkan (Catatan 12)                                   5.013.734.275                  9.599.160.044                             plantations (Note 12)
  Dikapitalisasi ke proyek perkebunan                                                                                                  Capitalized to partnership
    kemitraan (Catatan 11)                                      1.062.986.017                  3.607.767.799                       plantation project (Note 11)
  Dibebankan ke beban umum dan                                                                                             Charged to general and administrative
    administrasi (Catatan 28b)                                  1.123.343.086                  2.086.155.131                              expenses(Note 28b)

  Jumlah                                                    181.925.680.681               355.880.150.895                                                            Total

    Pada tanggal 30 Juni 2024 dan 31 Desember 2023,                                               As of June 30, 2024 and December 31, 2023,
    beban keuangan yang dikapitalisasi ke aset dalam                                              finance cost which is capitalized to assets under
    penyelesaian pabrik kelapa sawit adalah masing –                                              construction of palm oil factory, respectively
    masing    sebesar     Rp779.955.556    dan    Rp                                              amounted to Rp779,955,556 and Rp4,359,162,500
    4.359.162.500 (Catatan 29b).                                                                  (Note 29b).

    Rincian penjualan aset tetap lainnya adalah sebagai                                           The details of sale of other fixed assets are as
    berikut:                                                                                      follows:
                                                               30/06/2024                  31/12/2023

  Harga jual                                                       57.405.970              1.069.741.157                                                Selling price
  Nilai tercatat                                                 (276.404.773)               (74.498.393)                                             Carrying value

  Laba (rugi) pelepasan aset tetap                                (218.998.803)                 995.242.764             Gain (loss) on disposal of fixed assets




                                                                               62
Page 66
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


13. ASET TETAP (lanjutan)                                        13. PROPERTY,             PLANT          AND         EQUIPMENT
                                                                     (continued)

    Aset     tetap    telah   diasuransikan   terhadap              Property, plant and equipment are covered by
    risiko     kerugian     akibat    kebakaran     dan             insurance against losses from fire and other risks
    risiko lainnya berdasarkan suatu paket polis                     based on a certain policy package as of June 30,
    tertentu      masing-masing        pada      tanggal            2024 and December 31, 2023 with an insured each
    30 Juni 2024 dan 31 Desember 2023 dengan nilai                  other          Rp1,904,316,369,711            and
    pertanggungan        masing-     masing     sebesar             Rp1,830,851,221,729.
    Rp1.904.316.369.711 dan Rp1.830.851.221.729.

    Manajemen      berpendapat      bahwa   nilai                   Management believes that the insurance coverage
    pertanggungan tersebut cukup untuk menutupi                     is adequate to cover possible losses on the assets
    kemungkinan     kerugian   atas   aset yang                     insured.
    dipertanggungkan.

    Aset dalam penyelesaian sudah mencapai kurang                   Assets in progress has reached approximately
    lebih 45% - 95% dan penyelesaian diperkirakan                   45% - 95% and the completion is expected to be
    akan selesai pada tahun 2025.                                   completed in 2025.

    Pada tanggal 30 Juni 2024 dan 31 Desember 2023,                 As of June 30, 2024 and December 31, 2023, there
    terdapat aset tetap yang telah disusutkan penuh                 is an assets which have been fully depreciated and
    namun masih digunakan dengan biaya perolehan                    are still used with cost amounted to
    masing-masing sebesar Rp1.214.314.438.181 dan                   Rp1,214,314,438,181 and Rp1,057,974,452,096
    Rp1.057.974.452.096.                                            respectively.

    Pada tanggal 30 Juni 2024 dan 31 Desember 2023,                 As of June 30, 2024 and December 31, 2023, the
    nilai jual objek pajak untuk tanah dan bangunan                 sale value of tax object of the Group’s land and
    yang dimiliki oleh Grup adalah masing-masing                    buildings each others amounting to Rp
    sebesar           Rp12.002.625.881.195         dan              12,002,625,881,195 and Rp11,390,369,639,683
    Rp11.390.369.639.683. Nilai tersebut merupakan                  The values is an observation price by Directorate
    observasi harga jual oleh Direktorat Jenderal Pajak             General of Tax from similar object and included in
    dari objek yang sejenis dan termasuk dalam hirarki              the fair value measurement of level 2.
    nilai wajar tingkat 2.

    Pabrik kelapa sawit, bangunan dan infrastruktur, alat           Palm oil factory, buildings and infrastructure, heavy
    berat dan kendaraan tertentu digunakan sebagai                  equipment and vehicle certain are used as collateral
    jaminan atas fasilitas kredit yang diperoleh dari PT            for bank investment credit facilities obtained from PT
    Bank Central Asia Tbk (Catatan 20).                             Bank Central Asia Tbk (Note 20).

    Berdasarkan evaluasi manajemen, tidak terdapat                  Based on management’s evaluation, there were no
    kejadian   atau    perubahan     keadaan    yang                events or changes in circumstances that indicate
    mengindikasikan adanya penurunan nilai aset tetap               any decline in the value of property, plant and
    pada tanggal 30 Juni 2024 dan 31 Desember 2023.                 equipment as of June 30, 2024 and December 31,
                                                                    2023.




                                                            63
Page 67
                                                                                    The original consolidated financial statements included herein are in
                                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                             PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                            AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                               FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                               As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                           (Expressed in Rupiah, unless otherwise stated)


14. ASET HAK-GUNA                                                           14. RIGHT-OF-USE ASSETS



                                                               30/06/2024
                          Saldo awal/                                                                   Saldo akhir/
                          Beginning         Penambahan/       Pengurangan/           Reklasifikasi/       Ending
                           balance            Additions        Deductions           Reclassifications     balance
  Biaya perolehan                                                                                                                      Acquisition cost
     Alat pengangkutan     410.018.018                    -                     -                 -*)     410.018.018                       Vehicles

  Jumlah                                -                 -                     -                - *)                  -                          Total

  Akumulasi penyusutan                                                                                                        Accumulated depreciation
    Alat pengangkutan       (47.835.436)      (41.001.802)                      -                - *)     (88.837.238)                      Vehicles

  Jumlah                    (47.835.436)      (41.001.802)                      -                - *)     (88.837.238)                            Total

  Nilai tercatat           362.182.582                    -                     -                - *)     321.180.780                    Carrying value




                                                               31/12/2023
                          Saldo awal/                                                                   Saldo akhir/
                          Beginning         Penambahan/       Pengurangan/           Reklasifikasi/       Ending
                           balance            Additions        Deductions           Reclassifications     balance
  Biaya perolehan                                                                                                                      Acquisition cost
     Alat pengangkutan                  -     410.018.018                       -                 -*)     410.018.018                       Vehicles

  Jumlah                                -     410.018.018                       -                - *)     410.018.018                             Total

  Akumulasi penyusutan                                                                                                        Accumulated depreciation
    Alat pengangkutan                   -     (47.835.436)                      -                - *)     (47.835.436)                      Vehicles

  Jumlah                                -     (47.835.436)                      -                - *)     (47.835.436)                            Total

  Nilai tercatat                        -     362.182.582                       -                - *)     362.182.582                    Carrying value



    Beban penyusutan aset hak-guna dialokasikan ke                          d        Depreciation expenses of right-of-use assets
    beban pokok penjualan (Catatan 27).                                              was allocated to cost of goods sold (Note 27).




                                                                 64
Page 68
                                                                The original consolidated financial statements included herein are in
                                                                                                               Indonesian language.

PT FAP AGRI Tbk                                              PT FAP AGRI Tbk
DAN ENTITAS ANAK                                             AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)            (Expressed in Rupiah, unless otherwise stated)


15. UTANG USAHA                                              15. TRADE PAYABLES

                                          30/06/2024         31/12/2023

  Pihak berelasi (Catatan 30)                10.272.341        565.902.699                           Related parties (Note 30)

  Pihak ketiga                                                                                                  Third parties
   PT Bumi Berkat Lestari Raya            46.201.966.841     90.730.287.113                    PT Bumi Berkat Lestari Raya
   PT Samudra Putra Trans Abadi           39.417.177.599     44.633.763.327                  PT Samudra Putra Trans Abadi
   PT Meroke Tetap Jaya                   28.771.099.515      4.348.718.500                         PT Meroke Tetap Jaya
   PT Indotrans Sejahtera                 25.121.836.120     33.187.422.106                         PT Indotrans Sejahtera
   PT Gokomodo Uniti Indonesia            21.299.528.977     38.165.253.992                   PT Gokomodo Uniti Indonesia
   PT Beruang Maritim Indonesia           19.256.447.343     30.574.887.283                   PT Beruang Maritim Indonesia
   PT Prabu Pendawa Motor                 13.764.558.702      1.166.074.853                       PT Prabu Pendawa Motor
   CV Surya Sumatera Sejati               10.570.901.558                  -                      CV Surya Sumatera Sejati
   PT Sasco Indonesia                      9.781.857.990      4.336.645.262                            PT Sasco Indonesia
   PT Mujur Karya Sentosa                  8.348.499.129      1.864.423.320                        PT Mujur Karya Sentosa
   PT Pilar Utama Labuan                   7.535.546.534     45.136.186.181                         PT Pilar Utama Labuan
   CV Gunung Mas Abadi                     6.683.906.250      8.866.650.750                         CV Gunung Mas Abadi
   PT Dwitama Sembada                      5.305.608.000      3.549.477.200                         PT Dwitama Sembada
   CV Indoniaga Perkasa                    4.255.783.800      3.047.752.620                         CV Indoniaga Perkasa
   PT Duta Sukses Perkasa                  3.357.482.609      1.255.767.800                       PT Duta Sukses Perkasa
   PT Mandau Berlian Sejati                3.276.063.672      2.322.028.113                       PT Mandau Berlian Sejati
   PT Boilermech                           3.082.000.000                  -                                PT Boilermech
   PT Goautama Sinarbatuah                 1.894.786.850        640.574.000                     PT Goautama Sinarbatuah
   Lain - lain (masing - masing                                                                        Others (each below
     dibawah Rp 2 miliar)                 48.871.094.209     49.132.679.366                                   Rp2 billion)

  Sub jumlah pihak ketiga                 306.796.145.698   362.958.591.786                              Sub total third parties

  Jumlah                                  306.806.418.039   363.524.494.485                                                  Total


    Seluruh transaksi utang usaha Grup dilakukan                 The Group’s trade payables transactions are carried
    dalam mata uang Rupiah.                                      out in Rupiah.

16. UTANG LAIN-LAIN                                          16. OTHER PAYABLES

                                          30/06/2024         31/12/2023

  Pihak berelasi (Catatan 30)            22.557.995.166      39.263.282.926                          Related parties (Note 30)

  Pihak ketiga                                                                                                Third parties
   PT Saainti Kreasi Tehnik               52.548.862.552     42.479.943.400                       PT Saainti Kreasi Tehnik
   PT Karya Murni Prima                   14.757.543.590     11.826.340.175                         PT Karya Murni Prima
   PT Karya Agung Bangun Konstruksi       12.634.409.412     14.529.796.063             PT Karya Agung Bangun Konstruksi
   PT Kreatif Jaya Mandiri                11.091.945.575      7.765.849.117                        PT Kreatif Jaya Mandiri
   PT Sinar Mitra Jaya                     5.872.529.216      3.031.550.702                           PT Sinar Mitra Jaya
   CV Inti Jaya                            3.551.211.705      3.643.081.707                                    CV Inti Jaya
   PT Andal Tunas Mandiri                  1.987.882.701      2.202.973.025                       PT Andal Tunas Mandiri
   PT Jes Mandiri Sukses                   1.567.935.571      1.567.935.571                        PT Jes Mandiri Sukses
   PT Asta Rekayasa Unggul                 1.402.232.004      1.402.232.004                     PT Asta Rekayasa Unggul
   Lain - lain (masing - masing                                                                       Others (each below
    dibawah Rp 1 miliar)                  62.687.080.639     89.527.958.934                                  Rp1 billion)

  Sub jumlah pihak ketiga               168.101.632.965     177.977.660.698                               Sub total third parties

  Jumlah                                190.659.628.131     217.240.943.624                                                 Total




                                                       65
Page 69
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)



16. UTANG LAIN-LAIN (lanjutan)                                   16. OTHER PAYABLES (continued)

    Rincian umur utang lain-lain adalah sebagai berikut:              Details of other payables by age are as follows:


                                             30/06/2024          31/12/2023

  Belum jatuh tempo                         85.845.334.962      148.647.388.697                                          Not yet due

  Sudah jatuh tempo:                                                                                               Already due:
   PT Saainti Kreasi Tehnik                 43.457.190.324       24.007.846.640                      PT Saainti Kreasi Tehnik
   PT Karya Agung Bangun Konstruksi         12.634.409.412        5.886.564.763            PT Karya Agung Bangun Konstruksi
   PT Karya Murni Prima                     10.557.103.647        8.154.994.578                        PT Karya Murni Prima
   PT Kreatif Jaya Mandiri                   8.055.526.625        6.662.459.350                       PT Kreatif Jaya Mandiri
   PT Sinar Mitra Jaya                       4.438.792.845        2.154.675.202                          PT Sinar Mitra Jaya
   CV Inti Jaya                              2.103.572.348        3.643.081.707                                   CV Inti Jaya
   PT Andal Tunas mandiri                    1.859.492.501        1.015.718.429                      PT Andal Tunas mandiri
   PT Jes Mandiri Sukses                     1.567.935.571        1.567.935.571                       PT Jes Mandiri Sukses
   PT Asta Rekayasa Unggul                   1.402.232.004        1.290.985.359                    PT Asta Rekayasa Unggul
   Lain - lain (masing - masing                                                                          Others (each below
     dibawah Rp 1 miliar)                   18.738.037.892       14.209.293.328                                 Rp1 billion)

  Sub jumlah sudah jatuh tempo             104.814.293.169       68.593.554.927                          Sub total of already due

  Jumlah                                   190.659.628.131      217.240.943.624                                                 Total


    Seluruh transaksi utang lain-lain Grup dilakukan                  The Group’s other payables transactions are carried
    dalam mata uang Rupiah.                                           out in Rupiah.




                                                           66
Page 70
                                                                  The original consolidated financial statements included herein are in
                                                                                                                 Indonesian language.

PT FAP AGRI Tbk                                                PT FAP AGRI Tbk
DAN ENTITAS ANAK                                               AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                  FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                  As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)              (Expressed in Rupiah, unless otherwise stated)



17. PERPAJAKAN                                                 17. TAXATION

    a.    Pajak Dibayar dimuka                                      a.   Prepaid Taxes


                                            30/06/2024         31/12/2023

         Perusahaan                                                                                                The Company
          Pajak Pertambahan Nilai                          -                  -                               Value Added Tax
         Sub jumlah                                      -                    -                                           Sub total

         Entitas Anak                                                                                               Subsidiaries
           Pajak Pertambahan Nilai         11.701.123.556      21.892.715.637                                 Value Added Tax

         Sub jumlah                        11.701.123.556      21.892.715.637                                             Sub total

         Jumlah                            11.701.123.556      21.892.715.637                                                 Total



    b.    Utang Pajak                                               b.   Taxes Payable


                                            30/06/2024         31/12/2023
         Perusahaan                                                                                               The Company
            Pajak Pertambahan Nilai          378.068.627          264.858.791                                   Value Added Tax
            Pajak Penghasilan Pasal 21       258.830.561          433.833.270                               Income Tax Article 21
            Pajak Penghasilan Pasal 23         5.703.506           10.971.945                               Income Tax Article 23
         Sub jumlah                          642.602.694          709.664.006                                             Sub total
         Entitas Anak                                                                                              Subsidiaries
           Pajak Pertambahan Nilai         28.051.146.077      13.127.027.525                                 Value Added Tax
           Pajak Penghasilan Pasal 21         603.181.417       1.430.019.996                             Income Tax Article 21
           Pajak Penghasilan Pasal 22         386.484.884         545.908.214                             Income Tax Article 22
           Pajak Penghasilan Pasal 23         466.763.946         611.702.827                             Income Tax Article 23
           Pajak Penghasilan Pasal 25       7.693.244.410      15.547.444.472                             Income Tax Article 25
           Pajak Penghasilan Pasal 29       9.353.454.524       4.823.627.587                             Income Tax Article 29
           Pajak Penghasilan Pasal 4 (2)      753.278.157       1.072.438.527                           Income Tax Article 4 (2)
           Pajak Penghasilan Pasal 15         141.907.492         757.679.559                             Income Tax Article 15
           Pajak Bumi dan Bangunan         26.668.332.229       1.952.025.758                            Land and building taxes

         Sub jumlah                        74.117.793.136      39.867.874.465                                             Sub total

         Jumlah                            74.760.395.830      40.577.538.471                                                 Total




                                                         67
Page 71
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)



17. PERPAJAKAN (lanjutan)                                             17. TAXATION (continued)

    c.    Taksiran Tagihan Pengembalian Pajak                         c.   Estimated Claim for Tax Refund


                                             30/06/2024          31/12/2023

         Pajak Penghasilan dan Pajak
           Pertambahan Nilai                                                                   Income Tax and Value Added Tax
          Belum/sedang diperiksa            135.021.080.981     112.254.463.151                          Not yet/on progress
          Keberatan dan banding               3.479.814.922       3.733.890.797                       Objections and appeals

         Sub jumlah                         138.500.895.903     115.988.353.948                                             Sub total

         Bea Perolehan Hak atas Tanah                                                               Land and Building Rights and
           dan Bangunan                                                                                       Acquisition Fees
           Belum/sedang diperiksa            21.718.292.000      21.718.292.000                            Not yet/on progress

         Sub jumlah                          21.718.292.000      21.718.292.000                                             Sub total

         Jumlah                             160.219.187.903     137.706.645.948                                                 Total


          Taksiran    tagihan     pengembalian     pajak                   Estimated claim for tax refunds represent
          merupakan kelebihan bayar pajak penghasilan,                     overpayments of current and previous years’
          pajak pertambahan nilai dan pajak lainnya                        income tax, value added tax and other taxes
          tahun berjalan dan tahun-tahun sebelumnya                        which have not been audited or being examined
          yang belum atau sedang diperiksa oleh Kantor                     by the Tax Office and or which have been
          Pajak, dan atau yang sudah diajukan                              submitted for returns, and payments of tax
          pengembalian, serta pembayaran atas surat                        assessments received by the Company and
          ketetapan pajak yang diterima oleh Perusahaan                    subsidiaries for which objections or appeals
          dan entitas anak dimana telah diajukan                           have been submitted.
          keberatan atau banding.

    d.    Pajak Penghasilan                                           d.   Income Tax
          Beban pajak Grup terdiri dari:                                   Tax expense of the Group consists of the
                                                                           following:

                                             30/06/2024          30/06/2023

         Pajak kini                                                                                                     Current tax
           Entitas anak                     (42.818.780.358)    (49.382.137.979)                                      Subsidiaries
         Sub jumlah                         (42.818.780.358)    (49.382.137.979)                                            Sub total

         Pajak tangguhan                                                                                               Deferred tax
           Entitas induk                        852.274.660       2.603.677.170                                     The Company
           Entitas anak                       9.909.459.524      16.393.478.035                                      Subsidiaries
         Sub jumlah                          10.761.734.184      18.997.155.205                                           Sub total

         Jumlah beban pajak                (32.057.046.174)     (30.384.982.774)                               Total tax expenses




                                                           68
Page 72
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT FAP AGRI Tbk                                                        PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                       AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                          FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                          As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                      (Expressed in Rupiah, unless otherwise stated)



17. PERPAJAKAN (lanjutan)                                                   17. TAXATION (continued)

    d.    Pajak Penghasilan (lanjutan)                                      d.   Income Tax (continued)

          Rekonsiliasi antara rugi konsolidasian sebelum                         The reconciliation between consolidated loss
          pajak penghasilan menurut laporan laba                                 before income tax as shown in the consolidated
          rugi    dan      penghasilan      komprehensif                         statement of profit or loss and other
          konsolidasian dengan taksiran penghasilan                              comprehensive income and estimated taxable
          kena pajak adalah sebagai berikut:                                     income are as follows:
                                                 30/06/2024            30/06/2023
         Laba sebelum pajak menurut                                                                  Profit before income tax expenses
            laporan laba rugi                                                                         per consolidated statements of
         komprehensif konsolidasian             120.489.771.823       125.136.434.971                                         profit or loss
         Ditambah (dikurangi):                                                                                           Add (substract):
         Laba sebelum pajak penghasilan                                                                              Profit before income
         entitas anak yang dikonsolidasi       (147.448.878.498)     (141.076.312.296)              tax of the consolidated subsidiaries
         Eliminasi dan penyesuaian              415.623.307.420         5.291.307.420                        Elimination and adjustment
     Laba (rugi) sebelum pajak penghasilan -                                                             Proft (loss) before income tax -
         Perusahaan                            388.664.200.745       (10.648.569.905)                                     the Company

         Beda temporer:                                                                                         Temporary differences:
           Imbalan pasca kerja                   1.648.727.782         1.003.669.423                          Post employment benefit
                                                                                                          Depreciation of property, plant
           Penyusutan aset tetap                  (142.232.578)           (61.670.544)                                 and equipment
         Jumlah beda temporer                     1.506.495.204          941.998.879                         Total temporary differences

         Beda permanen:                                                                                  Permanent differences:
          Jasa giro                                (217.676.471)       (1.199.946.327)               Interest on bank current accounts
          Pendapatan dividen                   (392.350.000.000)                     -                                Dividend income
          Beban pajak                                 1.000.000                      -                                    Tax Expense
          Lain-lain                                  28.500.000            13.620.000                                           Others
         Jumlah beda permanen                  (392.538.176.471)       (1.186.326.327)                      Total permanent differences

         Rugi fiskal tahun berjalan              (2.367.480.522)      (10.892.897.353)                          Fiscal loss for the year
         Saldo awal akumulasi                                                                                     Beginning balance of
           rugi fiskal:                                                                                       accumulated fiscal loss:
           2018                                                  -         (89.168.629)                                            2018
           2021                                   (17.558.630.712)     (17.558.630.712)                                            2021
           2022                                   (47.740.389.145)     (47.740.389.145)                                            2022
           2023                                    (9.395.694.034)                   -                                             2023

         Saldo akhir akumulasi                                                                       Ending balance of accumulated
           rugi fiskal                          (77.062.194.413)      (76.281.085.839)                                  fiscal loss




                                                              69
Page 73
                                                                                                            The original consolidated financial statements included herein are in
                                                                                                                                                           Indonesian language.

PT FAP AGRI Tbk                                                                                       PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                                      AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                                         As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                     (Expressed in Rupiah, unless otherwise stated)


17. PERPAJAKAN (lanjutan)                                                                                    17. TAXATION (continued)

    e.     Pajak Tangguhan                                                                            e.     Deferred Tax

           Rincian aset (liabilitas) pajak tangguhan adalah                                                  The details of deferred tax assets (liabilities) is as
           sebagai berikut:                                                                                  follows:
                                                                                               30/06/2024

                                                          Dikreditkan                                Dibebankan          Penyesuaian ke
                                                        (dibebankan)                               ke komprehensif        komprehensif
                                                         ke laba rugi/     Penyesuaian ke                lain/                lain/
                                                            Credited          laba rugi/              Charged to           Adjustment
                                       Saldo awal/       (charged) to        Adjustment                 other               to other           Saldo akhir/
                                       Beginning        profit or loss     to profit or loss        comprehensive       comprehensive            Ending
                                        balance           for the year       for the year              income               income               balance

         Aset pajak
            tangguhan                                                                                                                                                       Deferred tax assets
         Perusahaan                                                                                                                                                                   Company
            Akumulasi rugi fiskal     16.432.837.056      520.845.715                       -                      -                 -        16.953.682.771          Accumulated fiscal loss
            Aset tetap                  (127.320.323)      (31.291.167)                    -                       -                 -          (158.611.490)   Property, plant and equipment
            Imbalan pascakerja         2.171.791.615      362.720.112                      -                       -                 -         2.534.511.727        Post-employment benefit

         Sub jumlah                  18.477.308.348       852.274.660                          -                   -                 -        19.329.583.008                    Sub total

         Entitas anak                                                                                                                                                              Subsidiaries
             BBS                       23.435.439.702    (4.065.624.492)                      -                -                     -        19.369.815.210                             BBS
             MCA                       59.408.455.382      5.842.041.993                      -                -                     -        65.250.497.375                            MCA
             SAU                       43.539.916.274     9.222.247.504                       -                -                     -        52.762.163.778                             SAU
             KPL                       14.826.800.202      2.968.331.066                      -                -                     -        17.795.131.268                             KPL
             RAKA                       3.195.429.060    (1.201.563.587)                      -                -                     -         1.993.865.473                           RAKA

         Sub jumlah                  144.406.040.620     12.765.432.484                    -                       -                 -       157.171.473.104                         Sub total

         Jumlah aset pajak
            tangguhan                162.883.348.968     13.617.707.144                        -                   -                     -   176.501.056.112         Total deferred tax assets

         Liabilitas pajak
             tangguhan                                                                                                                                                  Deferred tax liabilities
         Entitas anak                                                                                                                                                             Subsidiaries
               BHP                   (2.432.901.386)      1.437.949.885                   -                        -                     -     (994.951.501)                             BHP
               KHL                   (4.687.191.781)     (1.489.669.663)                  -                         -                    -    (6.176.861.444)                            KHL
               BSI                  (11.742.835.244)    (2.056.391.333)                   -                        -                     -   (13.799.226.577)                             BSI
               TMSJ                  (4.893.163.879)      (747.861.849)                   -                        -                     -    (5.641.025.728)                           TMSJ

         Jumlah liabilitas pajak
            tangguhan               (23.756.092.290)    (2.855.972.960)                   -                        -                  -      (26.612.065.250)    Total deferred tax liabilities




                                                                                        70
Page 74
                                                                                                    The original consolidated financial statements included herein are in
                                                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                                             PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                            AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                               As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah, unless otherwise stated)


17. PERPAJAKAN (lanjutan)                                                                   17. TAXATION (continued)

    e.     Pajak Tangguhan                                                                  e.       Deferred Tax
                                                                          31/12/2023

                                                         Dikreditkan                                  Dibebankan
                                                       (dibebankan)                                 ke komprehensif
                                                        ke laba rugi/       Penyesuaian ke                lain/
                                                           Credited            laba rugi/              Charged to
                                    Saldo awal/         (charged) to          Adjustment                 other           Saldo akhir/
                                    Beginning          profit or loss       to profit or loss        comprehensive         Ending
                                     balance             for the year         for the year              income             balance

         Aset pajak tangguhan
            tangguhan                                                                                                                                           Deferred tax assets
         Perusahaan                                                                                                                                                        Company
            Akumulasi rugi fiskal    14.385.401.467      2.047.435.589                          -                  -      16.432.837.056                 Accumulated fiscal loss
            Aset tetap                  (64.737.989)       (62.582.334)                         -                  -        (127.320.323)          Property, plant and equipment
            Imbalan pascakerja        1.636.322.702        423.478.715                          -        111.990.198       2.171.791.615               Post-employment benefit

         Sub jumlah                  15.956.986.180      2.408.331.970                          -        111.990.198      18.477.308.348                                  Sub total

         Entitas anak                                                                                                                                                  Subsidiaries
             BBS                     21.534.756.929      6.991.851.938        (4.963.512.347)            (127.656.818)    23.435.439.702                                   BBS
             MCA                     72.130.144.790      4.735.041.572       (17.108.045.966)            (348.685.014)    59.408.455.382                                  MCA
             SAU                     33.993.164.813     14.465.089.017        (4.774.230.021)            (144.107.535)    43.539.916.274                                  SAU
             KPL                      9.150.345.317      5.749.288.104                     -              (72.833.219)    14.826.800.202                                   KPL
             RAKA                     2.003.575.414      1.139.118.570                     -               52.735.076      3.195.429.060                                 RAKA

         Sub jumlah                 138.811.987.263     33.080.389.201       (26.845.788.334)            (640.547.510)   144.406.040.620                                  Sub total

         Jumlah aset pajak
            tangguhan               154.768.973.443     35.488.721.171       (26.845.788.334)            (528.557.312)   162.883.348.968                 Total deferred tax assets

     Liabilitas pajak tangguhan                                                                                                                             Deferred tax liabilities
         Entitas anak                                                                                                                                                 Subsidiaries
              TMSJ                   (5.601.858.987)     1.038.260.736                          -        (123.593.530)    (4.687.191.781)                                 TMSJ
              KHL                   (12.785.764.264)     1.206.544.162                          -        (163.615.142)   (11.742.835.244)                                   KHL
              BSI                    (7.138.680.428)     2.222.562.190                          -          22.954.359     (4.893.163.879)                                   BSI
              BHP                    (3.452.866.798)     1.061.457.783                          -         (41.492.371)    (2.432.901.386)                                  BHP

         Jumlah liabilitas pajak
            tangguhan               (28.979.170.477)     5.528.824.871                          -        (305.746.684)   (23.756.092.290)             Total deferred tax liabilities




           Aset pajak tangguhan diakui jika tersedia                                                        Deferred tax assets are recognized if it is
           jumlah laba fiskal yang dapat dikompensasikan                                                    available fiscal profit which can be
           pada masa datang. Aset pajak tangguhan tidak                                                     compensated in the future. Deferred tax assets
           diakui pada posisi keuangan jika tidak terdapat                                                  are not recognized in the financial position
           keyakinan memadai tersedianya laba fiskal                                                        where there is no reasonable assurance of the
           yang dapat dikompensasikan pada masa                                                             availability of taxable income that can be offset
           datang.                                                                                          in the future.

           Rekonsiliasi antara beban (manfaat) pajak yang                                                   The reconciliation between the tax expense
           dihitung dengan menggunakan tarif pajak yang                                                     (income) computed by applying the prevailing
           berlaku dari rugi sebelum pajak dan manfaat                                                      tax rates to loss before income tax and tax
           pajak adalah sebagai berikut:                                                                    benefit as follows:

                                                             30/06/2024                     30/06/2023

         Laba sebelum pajak menurut laporan                                                                                      Profit before income tax expenses
            laba rugi komprehensif                                                                                               per consolidated statements of
            konsolidasian                        120.489.771.823                         125.136.434.971                                              profit or loss
         Ditambah (dikurangi):                                                                                                                      Add (substract):
         Laba (rugi) sebelum pajak penghasilan                                                                                          Profit (loss) before income
            entitas anak yang dikonsolidasi    (147.448.878.498)                       (141.076.312.296)                    tax of the consolidated subsidiaries
         Eliminasi dan penyesuaian               415.623.307.420                          5.291.307.420                                Elimination and adjustment

         Laba (rugi) sebelum pajak penghasilan                                                                                          Profit (loss) before income tax –
           Perusahaan                                     388.664.200.745                (10.648.569.905)                                                   the Company

         Pajak penghasilan dengan tarif
           pajak efektif                                     85.506.124.164                 (2.342.685.379)                             Income tax at effective tax rate

         Beda permanen:                                                                                                                      Permanent differences:
           Jasa giro                                              (47.888.824)                      (263.988.192)                 Interest on bank current accounts
           Pendapatan dividen                                (86.317.000.000)                                  -                                   Dividend income
           Lain-lain                                           1.711.039.320                           2.996.401                                             Others

         Beban (manfaat) pajak perusahaan                          852.274.660                  (2.603.677.170)             Tax expense (benefit) of the Company



                                                                                71
Page 75
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


17. PERPAJAKAN (lanjutan)                                        17. TAXATION (continued)

    e.    Pajak tangguhan (lanjutan)                                 e.    Deferred tax (continued)

          Rekonsiliasi antara manfaat (beban) pajak yang                   The reconciliation between the tax income
          dihitung dengan menggunakan tarif pajak yang                     (expense) computed by applying the prevailing
          berlaku dari rugi sebelum pajak dan manfaat                      tax rates to loss before income tax and tax
          pajak adalah sebagai berikut: (lanjutan)                         benefit as follows: (continued)

                                              30/06/2024         30/06/2023
         Manfaat (beban) pajak                                                                            Tax benefit (expense) of
          Perusahaan                            852.274.660      (2.603.677.170)                                  the Company
          Entitas anak                      (32.909.320.834)    (27.781.305.604)                                    Subsidiaries

         Jumlah beban pajak                 (32.057.046.174)    (30.384.982.774)                                      Total tax loss


          Aset dan liabilitas pajak tangguhan periode                      Deferred tax assets and liabilities as of June 30,
          30 Juni 2024 dan 31 Desember 2023 telah                          2024 and December 31, 2023 have been
          dihitung dengan memperhitungkan tarif pajak                      calculated taking into account tax rates
          yang diharapkan berlaku pada saat realisasi.                     expected to be prevailing at the time they
                                                                           realise.


18. BEBAN AKRUAL                                                 18. ACCRUED EXPENSES

                                              30/06/2024         31/12/2023

   Gaji dan upah                             45.521.706.888      50.980.665.871                                 Salary and wages
   Upah swakelola kebun                      42.123.863.965      43.706.822.167                Plantation self-management wages
   Bunga pinjaman bank                       13.028.959.565      13.382.433.599                                 Bank loan interest
   Jamsostek dan asuransi                     5.475.631.249       6.741.133.882                          Jamsostek and insurance
   Lain-lain (dibawah masing -
     masing Rp1 miliar)                      16.089.547.932      10.509.995.612                     Others (each below Rp1 billion)
   Jumlah                                  122.239.709.599      125.321.051.131                                                 Total


19. UANG MUKA PENJUALAN                                          19. ADVANCES FROM CUSTOMERS

                                              30/06/2024         31/12/2023

  Pihak ketiga                                                                                                       Third parties
   PT Green Global Utama                   188.056.053.000      186.712.920.000                         PT Green Global Utama
   PT Multi Nabati Sulawesi                109.147.500.000       42.856.125.600                        PT Multi Nabati Sulawesi
   PT Smart Tbk                             57.573.000.000       15.187.500.000                                   PT Smart Tbk
   PT Vastbit Prima Niaga                    4.102.560.000        7.459.790.400                         PT Vastbit Prima Niaga
   PT Citra Riau Sarana                                  -       73.564.200.000                           PT Citra Riau Sarana
   PT Agro Makmur Raya                                    -      42.708.584.529                          PT Agro Makmur Raya
   PT Tapian Nadenggan                                    -      40.410.000.000                          PT Tapian Nadenggan
   Lain-lain (masing-masing                                                                                 Others (each below
    dibawah Rp5 milliar)                     8.965.800.000        7.486.481.081                                   Rp 5 billion)
  Jumlah                                    367.844.913.000     416.385.601.610                                                 Total




                                                           72
Page 76
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)



20. UTANG BANK                                                    20. BANK LOANS

    Akun ini merupakan fasilitas kredit yang                          This account represents credit facilities which the
    dijadikan oleh Grup yang diperoleh dari                           Group obtained from PT Bank Central Asia Tbk, with
    PT Bank Central Asia Tbk, dengan rincian                          details as follows:
    sebagai berikut:
                                             30/06/2024           31/12/2023
  Jangka pendek                                                                                                         Short - term
  Fasilitas kredit lokal                                                                                        Local credit facilities
    (Rekening Koran)                       793.996.198.233      724.815.246.998                                  (Bank overdraft)

  Jangka panjang                                                                                                        Long - term
  Fasilitas kredit investasi             2.290.426.519.524     2.541.950.447.691                          Investment credit facilities
  Dikurangi : Biaya perolehan                                                                                    Less: Unamortized
    yang Belum diamortisasi                 (11.857.755.202)      (7.687.531.426)                                 acquisition cost

   Jumlah                                2.278.568.764.322     2.534.262.916.265                                                  Total
  Bagian jatuh tempo
    dalam satu tahun                       (650.332.728.659)    (705.892.065.280)                                     Current portion

  Bagian Jangka Panjang                   1.628.236.035.663    1.828.370.850.985                               Long - term portion


    Tingkat bunga utang bank pada tanggal                             The      bank loan interest rates  as   of
    30 Juni 2024 dan 31 Desember 2023 adalah                          June 30, 2024 and December 31, 2023 are as
    sebagai berikut:                                                  follows:

                                             30/06/2024           31/12/2023
  Rupiah                                    8,00% -0 9.50%       8,00% - 09.75%                                             Rupiah
  Dollar Amerika Serikat                    5,10% - 05,10%       4,60% - 05,10%                                 United Stated Dollar


    Grup memperoleh Fasilitas Kredit Investasi ("KI")                  The Group obtained Investment Credit Facilities
    dan Fasilitas Kredit Lokal ("KMK") dari PT Bank                    ("KI") and Local Credit Facilities ("KMK") from
    Central Asia Tbk (“BCA”) berdasarkan Akta                          PT Bank Central Asia Tbk (“BCA”) based on Deed
    Perjanjian Kredit No. 100 tanggal 24 Juli 2008 dari                of Credit Agreement No. 100 dated July 24, 2008
    Notaris F.X. Budi Santoso Isbandi, S.H.                            of Notary F.X. Budi Santoso Isbandi, S.H.

    Fasilitas kredit telah mengalami beberapa                         The credit facility has undergone several
    perubahan.      Perubahan        terakhir tanggal                 amendments. The latest amendment dated April 26,
    26 April 2024, Grup memperoleh tambahan plafon                    2024, Group obtained an additional ceiling for
    untuk Fasilitas Notional Pooling dari Rp                          Notional Pooling Facility from Rp500,000,000,000 to
    500.000,000.000 menjadi Rp700.000.000.000,                        Rp700,000,000,000,        additional   ceiling   for
    tambahan plafon untuk fasilitas Kredit Investasi                  Investment Credit facility in 2024 facility become
    tahun    2024     sebesar    Rp1.176.782.000.000,                 amounting to Rp1,176,782,000,000, while the
    sedangkan      plafon    fasilitas    KMK   tetap                 ceiling    of    KMK         facility remains     at
    Rp450.000.000.000. Grup juga memperoleh                           Rp450,000,000,000. The Group also obtained
    persetujuan perpanjangan jatuh tempo Fasilitas                    approval to extend the maturity date of the Notional
    Notional Pooling dan KMK sampai dengan 19 Mei                     Pooling and KMK facilities until
    2025.                                                             May 19, 2025.




                                                          73
Page 77
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                       FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                       As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)



20. UTANG BANK (lanjutan)                                           20. BANK LOANS (continued)

    Rincian fasilitas KI Grup adalah sebagai berikut:                   The detail of the KI facilities of the Group are as
                                                                        follows:

         Nama fasilitas/                    Plafon/                       Tujuan/                             Jangka waktu/
        Name of facilities                  Plafond                       Purpose                                Period

  Kredit Investasi Alat Berat             Rp17.000.000.000     Pembiayaan alat berat                 Jatuh tempo pada
  2022/ Heavy Equipment                                        dan kendaraan operasinal tahun        15 Januari 2027/
  Investment Credit                                            2022/ Financing the purchase of       Due period until
  Facilitiy in 2022                                            heavy equipment and operational       January 15,2027
                                                               vehicles in 2022

  Kredit Investasi Kendaraan Motor        Rp14.000.000.000     Pembiayaan kendaraan sepeda     Jatuh tempo pada
  Permanen 2022/                                               motor permanen tahun 2022/      7 Februari 2025/
  Harvester Motor Vehicles Investment                          Financing Due period until
  Credit Facility in 2022                                      the purchase of permanent motor Februrary 7,2025
                                                               vehicles in 2022

  Kredit Investasi Jembatan                Rp6.800.000.000     Pembiayaan pembangunan                Jatuh tempo berakhir pada
  Permanen/                                                    jembatan permanen /Financing          13 Nopember 2028/
  Permanent Bridge Credit                                      the construction of permanent         Due period until
  Facilitiy                                                    bridge                                November 13, 2028

  Kredit Investasi 1/                   Rp1.133.279.187.937    Pembiayaan pembangunan                Jatuh tempo berkisar pada
  Investment Credit 1                                          pabrik kelapa sawit, pembiayaan       28 Februari 2029 -
                                                               pembangunan kebun kelapa              15 September 2029/
                                                               sawit, pemeliharaan TBM,              Due period approximately on
                                                               pembiayaan alat berat dan             February 28, 2029 -
                                                               pembiayaan infrastruktur/             September 15, 2029
                                                               Financing the construction
                                                               of palm oil factory, financing
                                                               the construction of palm oil
                                                               plantation, maintenance of TBM,
                                                               heavy equipment financing,
                                                               heavy equipment financing and
                                                               infrastructure financing

  Kredit Investasi 2/                      USD112.092.971      Pembiayaan pembangunan                Jatuh tempo berkisar pada
  Investment Credit 2                                          kebun kelapa sawit dan                31 Januari 2026 - 30 Juni 2027/
                                                               pemeliharaan TBM/                     Due period approximately on
                                                               Financing the construction            January 31, 2026 - June 30,
                                                               of palm oil plantation and            2027
                                                               maintenance of TBM

  Kredit Investasi Shareholder           Rp387.000.000.000     Pembiayaan kembali pinjaman           Jatuh tempo berakhir pada
  Loan 2020/                                                   dari pemegang saham/                  6 Januari 2030/
  Investment Credit of Shareholder                             Refinancing loan from                 Due period until
  Loan 2020                                                    shareholder                           January 6, 2030

  Kredit Investasi Kebun                  Rp73.702.000.000     Pembiayaan pemeliharaan TBM/          Jatuh tempo berakhir pada
  Tahun Tanam 2018/                                            Financing the maintenance             30 Juni 2029/
  Plantation Investment Credit of                              of TBM                                Due period until
  Planting Year 2018                                                                                 June 30, 2029

  Kredit Investasi Kebun Plasma           Rp85.647.000.000     Pembiayaan pemeliharaan               Jatuh tempo berakhir pada
  Tahun Tanam 2018/                                            TBM plasma/Financing the              28 Desember 2032/
  Plasma Plantation Investment                                 maintenance of plasma TBM             Due period until
  Credit of Planting Year 2018                                                                       December 28, 2032




                                                              74
Page 78
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                PT FAP AGRI Tbk
DAN ENTITAS ANAK                                               AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                  FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                  As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)              (Expressed in Rupiah, unless otherwise stated)



20. UTANG BANK (lanjutan)                                      20. BANK LOANS (continued)

    Rincian fasilitas KI Grup adalah sebagai berikut:               The detail of the KI facilities of the Group are as
    (lanjutan)                                                      follows: (continued)

        Nama fasilitas/                Plafon/                        Tujuan/                             Jangka waktu/
       Name of facilities              Plafond                        Purpose                                Period


  Kredit Investasi IDC Kebun          Rp30.551.000.000    Pembiayaan bunga atas fasilitas        Jatuh tempo berakhir pada
  Plasma Tahun Tanam 2018/                                kredit kebun plasma tahun              28 Desember 2032/
  IDC Plasma Plantation                                   tanam 2018 dan fasilitas kredit        Due period until
  Investment Credit of Planting                           investasi IDC plasma tahun             December 28, 2032
  Year 2018                                               tanam 2018/
                                                          Interest financing of plasma
                                                          plantation credit facility of
                                                          planting year 2018 and
                                                          IDC plasma plantation
                                                          investment credit of planting
                                                          year 2018

  Kredit Investasi Kebun              Rp86.251.000.000    Pembiayaan pemeliharaan                Jatuh tempo berakhir pada
  Tahun Tanam 2019/                                       kebun baru/Financing the               30 Juni 2029/
  Plantation Investment Credit of                         maintenance of new plantation          Due period until
  Planting Year 2019                                                                             June 30, 2029

  Kredit Investasi Kebun Plasma       Rp26.633.000.000    Pembiayaan pemeliharaan                Jatuh tempo berakhir pada
  Tahun Tanam 2019/                                       kebun baru plasma/                     15 Nopember 2033/
  Plasma Plantation Investment                            Financing the maintenance              Due period until
  Credit of Planting Year 2019                            of new plasma plantation               November 15, 2033

  Kredit Investasi IDC Kebun           Rp9.678.000.000    Pembiayaan bunga atas fasilitas        Jatuh tempo berakhir pada
  Plasma Tahun Tanam 2019/                                kredit kebun plasma tahun              15 Nopember 2033/
  IDC Plasma Plantation                                   tanam 2019 dan fasilitas kredit        Due period until
  Investment Credit of Planting                           investasi IDC plasma tahun             November 15, 2033
  Year 2019                                               tanam 2019/
                                                          Interest financing of plasma
                                                          plantation credit facility of
                                                          planting year 2019 and
                                                          IDC plasma plantation
                                                          investment credit of planting
                                                          year 2019

  Kredit Investasi Kebun             Rp191.121.000.000    Pembiayaan pembangunan                 Jatuh tempo berakhir pada
  Tahun Tanam 2020/                                       kebun kelapa sawit/                    31 Desember 2029/
  Plantation Investment Credit of                         Financing the construction             Due period until
  Planting Year 2020                                      of palm oil plantation                 December 31, 2029

  Kredit Investasi Kebun Plasma       Rp88.565.000.000    Pembiayaan pembangunan                 Jatuh tempo berakhir pada
  Tahun Tanam 2020/                                       kebun kelapa sawit plasma/             31 Desember 2031/
  Plasma Plantation Investment                            Financing the construction             Due period until
  Credit of Planting Year 2020                            of plasma palm oil plantation          December 31, 2031

  Kredit Investasi IDC Kebun          Rp31.997.000.000    Pembiayaan bunga atas fasilitas        Jatuh tempo berakhir pada
  Plasma Tahun Tanam 2020/                                kredit kebun plasma tahun              31 Desember 2031/
  IDC Plasma Plantation                                   tanam 2020 dan fasilitas kredit        Due period until
  Investment Credit of Planting                           investasi IDC plasma tahun             December 31, 2031
  Year 2020                                               tanam 2020/
                                                          Interest financing of plasma
                                                          plantation credit facility of
                                                          planting year 2020 and
                                                          IDC plasma plantation
                                                          investment credit of planting

  Kredit Investasi Kebun              Rp67.341.000.000    Pembiayaan pemeliharaan TBM            Jatuh tempo berakhir pada
  Tahun Tanam 2021/                                       2021/Financing the maintenance         31 December 2030/
  Plantation Investment Credit of                         of TBM year 2021                       Due period until
  Planting Year 2021                                                                             December 31, 2030

                                                         75
Page 79
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)



20. UTANG BANK (lanjutan)                                          20. BANK LOANS (continued)

    Rincian fasilitas KI Grup adalah sebagai berikut:                   The detail of the KI facilities of the Group are as
    (lanjutan)                                                          follows: (continued)

         Nama fasilitas/                   Plafon/                        Tujuan/                             Jangka waktu/
        Name of facilities                 Plafond                        Purpose                                Period

  Kredit Investasi Kebun Plasma          Rp18.021.000.000     Pembiayaan pembangunan                 Jatuh tempo berakhir pada
  Tahun Tanam 2021/                                           kebun kelapa sawit plasma/             31 December 2024/
  Plasma Plantation Investment                                Financing the construction             Due period until
  Credit of Planting Year 2021                                of plasma palm oil plantation          December 31, 2024

  Kredit Investasi IDC Kebun              Rp6.548.000.000     Pembiayaan bunga atas fasilitas        Jatuh tempo berakhir pada
  Plasma Tahun Tanam 2021/                                    kredit kebun plasma tahun              31 Desember 2024/
  IDC Plasma Plantation                                       tanam 2021 dan fasilitas kredit        Due period until
  Investment Credit of Planting                               investasi IDC plasma tahun             December 21, 2024
  Year 2021                                                   tanam 2021/
                                                              Interest financing of plasma
                                                              plantation credit facility of
                                                              planting year 2021 and
                                                              IDC plasma plantation
                                                              investment credit of planting

  Kredit Investasi Alat Berat            Rp18.500.000.000     Pembiayaan alat-alat berat             Jatuh tempo berakhir pada
  2021/                                                       tahun 2021/                            08 Februari 2026/
  Heavy Equipment Investment                                  Financing of heavy equipment           Due period until
  Credit Facility in 2021                                     in 2021                                February 08, 2026

  Kredit Investasi Pabrik kelapa        Rp168.000.000.000     Pembiayaan pembangunan                 Jatuh tempo berakhir pada
  Sawit 2021/                                                 Pabrik Kelapa Sawit 2021/              08 Februari 2026/
  Palm Oil Factory Investment                                 Construction of Palm Oil               Due period until
  Credit Facility in 2021                                     Factory in 2021                        February 08, 2026

  Kredit Investasi Alat Berat            Rp71.000.000.000     Pemeliharaan dan pengadaan             Jatuh tempo berakhir pada
  Tahun 2023/Heavy Equipment                                  tanaman, infrastruktur dan aset        15 Desember 2027
  Investment Credit of Year 2023                              tetap/ Maintenance and                 Due Period until
                                                              procurement of plants                  December 15, 2027
                                                              infrastructure and fixed assets

  Kredit Investasi Kendaraan             Rp24.255.000.000     Pembiayaan kendaraan motor             Jatuh tempo pada
  Motor Pemanen 2023/                                         pemanen tahun 2023/                    15 Desember 2025/
  Harvester Motor Vehicles                                    Financing of harvester motor           Due period until
  Investment Credit Facility in 2023                          vehicles in 2023                       December 15, 2025

  Kredit Investasi 2024/               Rp1.176.872.000.000    Pembiayaan alat berat,                 Jatuh tempo berkisar pada
  Investment Credit 2024                                      kendaraan motor pemanen, dan           31 Desember 2026 – 15 April
                                                              pembangunan PKS tahun 2024/            2034/Due period approximately
                                                              Financing of Heavy equipment,          on December 31, 2026 - April
                                                              harvester motor vehicles               15, 2034.
                                                              the construction of an oil palm in
                                                              2024.




                                                             76
Page 80
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)


20. UTANG BANK (lanjutan)                                          20. BANK LOANS (continued)

    Agunan                                                            Collaterals

    a.   Tanaman perkebunan yang dimiliki oleh MCA                    a.    Plantations which owned by MCA along with
         beserta dengan sertifikat HGU sebagai berikut:                     LCR certificates as follows:
         -   No. 56, 57, 58, 59, 60, 61, 62, 63, dan 64                     -   No. 56, 57, 58, 59, 60, 61, 62, 63, and 64
             seluas total 7.051,70 Ha,                                          with a total area of 7,051.70 Ha,
         -   No. 65, 66, 67, 68, 69, dan 70                                 -   No. 65, 66, 67, 68, 69, and 70
             seluas total 2.598,20 Ha,                                          with a total area of 2,598.20 Ha,
         -   No. 75, 76, 77, 78, 79, dan 80                                 -   No. 75, 76, 77, 78, 79, dan 80
             seluas total 6.395,42 Ha.                                          with a total area of 6,395.42 Ha.

    b.   Tanaman perkebunan yang dimiliki oleh                        b.    Plantations which owned by BBS along with
         BBS       beserta   dengan     sertifikat                          LCR certificates No. 71, 72, 73, and 74 with a
         HGU No. 71, 72, 73, dan 74 seluas total                            total area of 18,367.44 Ha.
         18.367,44 Ha.

    c.   Tanaman perkebunan yang dimiliki oleh                        c.    Plantations which owned by KHL along with
         KHL      beserta      dengan  sertifikat                           LCR certificate No. 1 with a total area of 20,000
         HGU No. 1 seluas 20.000 Ha.                                        Ha.



    d.   Tanaman        perkebunan      yang      dimiliki            d.    Plantations which owned by KPL along with
         oleh    KPL     beserta     dengan      sertifikat                 LCR certificates as follows:
         HGU sebagai berikut:                                               -   No. 196, 197, 198, 199, 200, 201, 202, 203,
         -    No. 196, 197, 198, 199, 200, 201, 202, 203,                       and 204 with a total area of 10,564.41 Ha
              dan 204 seluas total 10.564,41 Ha                             -   No. 205, 206, 207, 208, 209, 210, 211, 212,
         -    No. 205, 206, 207, 208, 209, 210, 211, 212,                       213, 214, 215, and 216 with a total area of
              213, 214, 215, dan 216 seluas total                               3,600.91 Ha.
              3.600,91 Ha.

    e.   Tanaman perkebunan yang dimiliki oleh                        e.    Plantations which owned by BSI along with LCR
         BSI     beserta       dengan  sertifikat                           certificate No. 2 with a total area of 13,404 Ha.
         HGU No. 2 seluas 13.404 Ha.

    f.   Tanaman perkebunan yang dimiliki oleh                        f.    Plantations which owned by TMSJ along with
         TMSJ      beserta      dengan sertifikat                           LCR certificate No. 1 with a total area of
         HGU No. 1 seluas 7.982,18 Ha.                                      7,982.18 Ha.

    g.   Tanaman perkebunan yang dimiliki oleh                        g.    Plantations which owned by BHP along with
         BHP      beserta       dengan sertifikat                           LCR certificate No. 1 with a total area of
         HGU No. 1 seluas 6.061 Ha.                                         6,061 Ha.

    h.   Tanah yang dimiliki oleh KHL dengan sertifikat               h.    Land which owned by KHL with Building Rights
         Hak Guna Bangunan (“HGB”) No. 2 seluas                             certificate No. 2 with a total area of
         27,25 Ha.                                                          area 27.25 Ha.

    i.   Tanah kebun milik TMSJ atas kekurangan                       i.    TMSJ’s plantation land on the LCR certificate
         penyerahan sertifikat HGU yang telah                               submitted covering an area of 7,982 Ha of the
         diserahkan seluas 7.982 Ha dari jumlah luas                        total area of 9,686 Ha required.
         disyaratkan 9.686 Ha.

    j.   Tanah kebun milik BHP atas kekurangan                        j.    BHP’s plantation land on the LCR certificates
         penyerahan sertifikat HGU yang telah                               submitted covering an area of 6,061 Ha of the
         diserahkan seluas 6.061 Ha dari jumlah luas                        total area of 7,450 Ha required.
         disyaratkan 7.450 Ha.

    k.   Tanah kebun dengan sertifikat HGU minimal                    k.    LCR certificates plantation with a minimum of
         seluas 3.279 Ha atas nama RAKA.                                    3,279 Ha under the name of RAKA.




                                                              77
Page 81
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


20. UTANG BANK (lanjutan)                                        20. BANK LOANS (continued)

     Agunan (lanjutan)                                              Collaterals (continued)

    l.   Pabrik kelapa sawit yang dimiliki           oleh           l.    Palm    oil     factories   owned                         by
         BBS, TMSJ, BHP, KHL, dan BSI.                                    BBS, TMSJ, BHP, KHL, and BSI.

    m. Kernel silo yang dimiliki oleh KHL dan BSI.                  m. Silo kernels owned by KHL and BSI.

    n.   Jaminan secara fidusia atas alat berat                     n.    Fiducia guarantee on the purchase og heavy
         dan     kendaraan    yang    pembeliannya                        equipment and vehicle by using Heavy
         menggunanakan fasilitas KI Alat Berat dan                        Equipment and Vehicle IC facility in 2016, 2017,
         Kendaraan tahun 2016, 2017, 2018, 2019,                          2018, 2019, 2020, 2021 and 2022.
         2020, 2021 dan 2022.

    o.   Seluruh saham yang dimiliki oleh Grup.                     o.    All shares owned by the Group.


Pembatasan-pembatasan                                            Covenants


    a.   Jika Grup melakukan investasi di luar dari                 a.    If the Group manage to do investing activities
         bidang usaha Grup, harus mendapatkan                             outside the Group’s main business, therefore
         persetujuan terlebih dahulu dari BCA                             should be permissioned by BCA

    b.   Grup     tidak   diperkenankan       untuk                 b.    The Group is not permitted to conduct spin off,
         melakukan pemisahan (spin off), peleburan,                       merger, expropriation or liquidation of business
         penggabungan,    pengambilalihan      atau
         pembubaran usaha

    c.   Grup     tidak   diperkenankan     melakukan               c.    The Group is not permitted to raise its loans and
         penambahan pinjaman dan memberikan                               provide corporate guarantees from bank or
         jaminan (corporate guarantee) dari bank                          other financial institutions, and/or commit
         atau       lembaga      keuangan      lainnya                    oneself as a guarantor in any form and name,
         dan/atau      mengikatkan     diri   sebagai                     and/or guaranteeing The Group’s assets
         penanggung/penjamin dalam bentuk dan                             to any other parties without permission
         dengan nama apapun dan/atau mengagunkan                          from BCA
         harta kekayaan Grup kepada pihak lain tanpa
         persetujuan BCA

    d.   Grup tidak diperkenankan untuk mengajukan                  d.    The Group is not permitted to propose
         permohonan      pailit atau    permohonan                        bankruptcy request or payment postponement
         penundaan pembayaran kepada instansi yang                        request to authorized agency (court)
         berwenang (pengadilan)

    e.   Grup tidak diperkenankan menjual atau                      e.    The Group is not permitted to sell or dispose
         melepas harta tidak bergerak atau harta                          non-moving assets or main assets used in main
         kekayaan utama dalam menjalankan usahanya,                       activities of business, except in order to be used
         kecuali dalam rangka menjalankan usaha                           in daily activities
         sehari-hari

    Selain itu, Grup juga diharuskan untuk                          In addition, Group is also required to maintain
    mempertahankan beberapa rasio keuangan tertentu                 certain financial ratios like bank loan debt, other
    yaitu utang pinjaman bank, pinjaman lembaga                     financial institution loans, bonds and corporate
    keuangan lain, obligasi dan corporate guarantee                 guarantee to total equity plus subordinated debt
    terhadap jumlah ekuitas ditambah utang yang                     (DER) maximum of 3 times and EBITDA ratio
    disubordinasikan (DER) maksimum 3 kali dan rasio                compared to interest expense minimum of 1.25
    EBITDA dibandingkan beban bunganya minimal                      times.
    1,25 kali.

    Pada tanggal 30 Juni 2024 dan 31 Desember 2023,                 As of June 30, 2024 and December 31, 2023, the
    Grup telah memenuhi syarat dan kondisi pinjaman                 Group is in compliance with the terms and conditions
    yang ditetapkan bank.                                           of the loans.


                                                            78
Page 82
                                                               The original consolidated financial statements included herein are in
                                                                                                              Indonesian language.

PT FAP AGRI Tbk                                             PT FAP AGRI Tbk
DAN ENTITAS ANAK                                            AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                               FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                               As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)           (Expressed in Rupiah, unless otherwise stated)


21. LIABILITAS SEWA                                         21. LEASES LIABILITIES

    Grup melakukan perjanjian pembiayaan konsumen               The Group had entered into consumer financing and
    dan sewa pembiayaan atas pembelian alat                     finance lease agreements for purchases of farm
    pertanian dan alat pengangkutan untuk jangka                equipment and vehicles for a 3 until 5 years period.
    waktu 3 sampai 5 tahun.

    a. Pembiayaan konsumen                                      a. Consumer financing

                                          30/06/2024        31/12/2023
       Pembayaran yang akan jatuh
         tempo pada tahun:                                                                              Minimum payment in:
         2026                               252.924.000       252.924.000                                           2026
         2025                               445.680.000       445.680.000                                           2025
         2024                               222.840.000       445.680.000                                           2024


   Jumlah pembayaran minimum                921.444.000     1.144.284.000                           Total minimum payment

       Nilai tunai pembayaran minimum       731.274.373       908.124.373                Present value of minimum payment

       Bagian jatuh tempo
          dalam satu tahun                 (353.700.000)     (353.700.000)                                      Current portion

       Bagian jangka panjang                377.574.373       554.424.373                                Non-current portion


    b. Sewa pembiayaan                                          b. Finance lease

                                          30/06/2024        31/12/2023
       Pembayaran yang akan jatuh
         tempo pada tahun:                                                                              Minimum payment in:
         2026                                47.035.184        47.035.184                                           2026
         2025                               141.105.600       141.105.600                                           2025
         2024                                70.552.800       141.105.600                                           2024
       Jumlah pembayaran minimum            258.693.584       329.246.384                     Total minimum lease payment
       Bunga                                (26.200.183)      (41.288.757)                                         Interest

       Nilai tunai pembayaran minimum       232.493.401       287.957.627        Present value of minimum lease payment

       Bagian jatuh tempo
         dalam satu tahun                  (177.251.617)     (114.161.055)                                      Current portion

       Bagian jangka panjang                 55.241.784       173.796.572                                Non-current portion




                                                       79
Page 83
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)



22. LIABILITAS IMBALAN KERJA                                      22. EMPLOYEE BENEFITS LIABILITIES

    Grup menghitung dan mencatat liabilitas imbalan                  The Group calculates and records the imbalance of
    kerja untuk semua karyawan tetap sesuai dengan                   work obligations for all permanent employees in
    ketentuan Peraturan Grup. Jumlah karyawan tetap                  accordance with the provisions of the Group
    pada tanggal 30 Juni 2024 dan 31 Desember 2023                   Regulations. The number of permanent employees
    masing-masing sebanyak 16.496 dan 16.143.                        as of June 30, 2024 and December 31, 2023 are
                                                                     16,496 and 16,143, respectively.

    Pada bulan April 2022, DSAK IAI (Dewan Standar                   In Aprli 2022, DSAK IAI (Institute of Indo Chartered
    Akuntansi Keuangan Ikatan Akuntan Indonesia)                     Accountants’ Accounting Standard Board) issued an
    menerbitkan materi penjelesan melalui siaran pers                explanatory material through press release
    atas persyaratan pengatribusian imbalan pada                     regarding attribution of benefit periods of service in
    periode jasa sesuai PSAK 24: Imbalan Kerja yang                  accordance with PSAK 24: Imbalan Kerja which was
    diadopsi dari IAS 19 Employee Benefits.                          adopted form IAS 19 Employee Benefits.

    Materi    penjelasan    tersebut     menyampaikan                The explanatory material conveyed the inform that
    informasi bahwa pola fakta umum dari program                     the fact pattern of the pension program basic on the
    pensiun berbasis undang-undang ketenagakerjaan                   Labor Law currently enacted in Indonesia similar to
    yang berlaku di Indonesia saat ini memiliki pola fakta           those responded and conclude in IFRS Intepretation
    serupa dengan yang ditanggapi dan disimpulkan                    Commite (IFRIC) Agenda Decision Attriuting Benefit
    dalam IFRS Interprecation Commitee (“IFRIC”)                     to Periods of Services (IAS 19), and concluded that
    Agenda Decision Attributing Benefit to Periods of                the requirment illustrative example 2 of PSAK 24
    Service (IAS 19) dan menyimpulkan bahwa                          paragrap 73 provide sufficient guidance in
    persyaratan dalam contoh ilustratif 2 dalam PSAK                 determining when entity can attribute benefits to
    24 Paragraf 73, telah memberikan kapan entitas                   periods of service addition, paragraphs 70-74 of
    mengatribusikan imbalan pada periode jasa. Selain                PSAK 24 requires entities to attribute benefits to the
    itu PSAK 24 paragraf 70-74, mensyaratkan entitas                 period service based on the plant’s benefit formula
    untuk mengatribusikan imbalan ke periode jasa                    the date when employee service first result benefits
    berdasarkan formula imbalan program dari tanggal                 under the plan to the date subsequent employee
    ketika jasa pekerja pertama kali menghasilkan                    service will not result further material amount of
    imbalan menurut program sampai tanggal ketika                    benefits under the other than the upcoming salary
    jasa pekerja selanjutnya tidak akan menghasilkan                 increases.
    jumlah imbalan selanjutnya yang material
    berdasarkan program, selain dari kenaikan gaji
    berikutnya.




                                                             80
Page 84
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                   PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                  AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                     FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                     As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                 (Expressed in Rupiah, unless otherwise stated)


22. LIABILITAS IMBALAN KERJA (lanjutan)                           22. EMPLOYEE BENEFITS LIABILITIES (continued)

  Grup telah menerapkan materi penjelasan tersebut                   The Group has adopted the said explanatory
  dan dengan demikian merubah kebijakan akuntansi                    material and accordingly changed its accounting
  menyangkut atribusi imbalan kerja pada periode                     policy regarding attribution of benefits to period
  jasa dari yang kebijakan yang diterapkan                           service previously applied in the consolidated
  sebelumnya pada laporan keuangan konsolidasian                     financial statements of the Group prospectively
  Grup secara prospektif karena manajemen meyakini                   because management believes the impact
  dampaknya tidak material dan tidak mempengaruhi                    immaterial and does not affect the decision of users
  pengambilan      keputusan    pengguna     laporan                 of the financial statements, so accumulated
  keuangan     konsolidasian,    sehingga     seluruh                difference the measurement attriution of new
  akumulasi selisih pengukuran atribusi imbalan kerja                employee benefits to balances, is recorded in the
  yang baru dengan saldo-saldo sebelumnya                            current year 2022 statement of profit or loss and
  dibukukan pada tahun berjalan di laporan laba rugi                 other comprehensive income.
  dan penghasilan komprehensif lain tahun 2022.

  Asumsi yang digunakan dalam menghitung liabilitas                   The assumptions used in calculating the employee
  imbalan kerja pada tanggal laporan posisi                           benefits as of the consolidated statement of financial
  keuangan konsolidasian adalah sebagai berikut:                      position dates are as follows:

                                        30/06/2024                     31/12/2023


  Usia pensiun normal                   55 tahun/years                55 tahun/years                           Normal pension age
  Tingkat kenaikan gaji per tahun           8,00%                         8,00%                        Annual salary increment rate
  Tingkat diskonto per tahun                7,25%                         7,25%                               Annual discount rate
  Tingkat mortalita                       TMI 2019                      TMI 2019                                       Mortality rate
  Tingkat cacat                         1% dari tingkat               1% dari tingkat                                 Disability rate
                                       mortalitas/1% of             mortalliltas/1% of
                                         mortality rate                mortality rate
  Metode penilaian                   Proyeksi Kredit Unit/         Proyeksi Kredit Unit/                            Valuation method
                                     Projected Unit Credit         Projected Unit Credit

  Liabilitas imbalan kerja yang diakui dalam laporan                  Employee benefits liabilities recognized in statement
  posisi keuangan adalah sebagai berikut:                             of financial position are as follows:
                                            30/06/2024            31/12/2023


  Imbalan pascakerja                      138.724.184.363        115.630.665.254                              Post-employee benefit
  Imbalan jangka panjang lain               5.939.231.611          5.215.802.700                              Other long-term benefit

  Jumlah                                  144.663.415.974        120.846.467.954                                                  Total


  Biaya dan penghasilan komprehensif lainnya yang                     Net expenses and other comprehensive income
  diakui dalam laporan laba rugi dan penghasilan                      recognized in the statement of profit or loss and other
  komprehensif lainnya adalah sebagai berikut:                        comprehensive income are as follows:
                                            30/06/2024            31/12/2023
                                                                                                         Recognized in statemen of
  Diakui dalam laporan laba rugi                                                                                     profit or loss
    Imbalan pascakerja                     24.362.059.534         34.587.326.323                          Post-employee benefit
    Imbalan jangka panjang lain               723.428.911          2.810.322.007                          Other long-term benefit

  Jumlah                                   25.085.488.445         37.397.648.330                                                  Total

  Diakui dalam laporan penghasilan                                                                Recognized in statement of other
    komprehensif lainnya                                                                                comprehensive income
    Imbalan pascakerja                                       -    (3.792.290.889)                        Post-employee benefit

  Jumlah                                                     -    (3.792.290.889)                                                 Total




                                                         81
Page 85
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT FAP AGRI Tbk                                                      PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                     AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                        FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                        As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                    (Expressed in Rupiah, unless otherwise stated)


22. LIABILITAS IMBALAN KERJA (lanjutan)                              22. EMPLOYEE BENEFITS LIABILITIES (continued)

    Mutasi saldo nilai kini liabilitas imbalan kerja adalah               The changes in employee benefits liabilities are as
    sebagai berikut:                                                      follows:

                                                30/06/2024           31/12/2023
  Imbalan pascakerja                                                                                           Post-employee benefit
  Saldo awal                                  115.630.665.254       86.454.600.012                                  Beginning balance
  Cadangan tahun berjalan                       24.362.059.534      34.587.326.323                               Current year expense
  Pembayaran imbalan kerja                     (1.268.540.425)      (1.618.970.192)                                       Benefit paid
  Keuntungan aktuaria                                        -      (3.792.290.889)                                      Actuarial gain

  Saldo akhir                                 138.724.184.363      115.630.665.254                                      Ending balance

  Imbalan jangka panjang lain                                                                                 Other long-term benefit
  Saldo awal                                    5.215.802.700         3.715.962.693                                 Beginning balance
  Cadangan tahun berjalan                         723.428.911         2.810.322.007                              Current year expense
  Pembayaran imbalan kerja                                  -        (1.310.482.000)                                      Benefit paid

  Saldo akhir                                   5.939.231.611         5.215.802.700                                     Ending balance

    Komponen beban imbalan pascakerja dan imbalan                         The component of post-employee benefit and other
    jangka panjang lainnya adalah sebagai berikut:                        long-term benefit are as follows:

                                                30/06/2024           31/12/2023

  Imbalan pascakerja                                                                                    Post-employee benefit
  Biaya jasa kini                              20.576.674.023      28.142.523.312                                Current service cost
  Biaya Jasa lalu dan keuntungan (kerugian)                   -       467.061.261 Past service cost and (gain) loss from settlements
  Biaya bunga                                   3.785.385.511       6.047.017.860                                       Interest cost
  Penyesuaian atas perubahan metode                          -        (69.276.110)                                    Mutation effect

  Jumlah                                      24.362.059.534       34.587.326.323                                                    Total

  Imbalan jangka panjang lain                                                                                 Other long-term benefit
  Biaya jasa kini                                 581.993.818           604.176.561                               Current service cost
  Biaya bunga                                     141.435.093           187.472.397                                       Interest cost
  Pengukuran kembali                                        -         2.018.673.049                                  Re-measurement

  Jumlah                                          723.428.911         2.810.322.007                                                  Total


                                                30/06/2024           31/12/2023

  Diakui pada penghasilan                                                                        Recognized in other comprehensive
    komprehensif lain :                                                                                                      :income
  Keuntungan dan kerugian aktuarial yang                                                       Actuarial gains and losses arising from
    Timbul dari perubahan asumsi finansial                    -       5.918.378.469                changes in financial assumptions
  Keuntungan dan kerugian aktuarial yang                                                            Actuarial gains and losses arising
    Timbul dari penyesuaian atas pengalaman                   -      (9.710.669.358)                      from experience adjustment

  Komponen beban imbalan pasti yang                                                          Components of defined benefit costs
    diakui dalam penghasilan                                                                 recognized in other comprehensive
    komprehensif lain                                         -      (3.792.290.889)                                   income


    Cadangan imbalan kerja dialokasikan sebagai                           Provisions for employee benefits are allocated as
    berikut:                                                              follows:
                                                30/06/2024           31/12/2023

  Dibebankan ke beban umum                                                                     Charged to general and administrative
    dan administrasi (Catatan 28b)             24.234.804.064        35.308.312.819                          expenses (Note 28b)
  Dikapitalisasi ke tanaman belum                                                                           Capitalized to immature
    menghasilkan (Catatan 12)                     371.341.951         1.520.505.009                          plantations (Note 12)
  Dibebankan ke beban pokok
    penjualan (Catatan 27)                        479.342.430           568.830.502          Charged to cost of goods sold (Note 27)

  Jumlah                                       25.085.488.445       37.397.648.330                                                   Total


                                                              82
Page 86
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.

PT FAP AGRI Tbk                                                        PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                       AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                          FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                          As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                      (Expressed in Rupiah, unless otherwise stated)



22. LIABILITAS IMBALAN KERJA (lanjutan)                                22. EMPLOYEE BENEFITS LIABILITIES (continued)

    Manajemen telah menelaah asumsi yang digunakan                           Management has reviewed the assumptions used
    dan berpendapat bahwa asumsi tersebut sudah                              and believes that all assumptions are adequate.
    memadai. Manajemen berkeyakinan bahwa                                    Management believes that the employee benefits
    cadangan tersebut telah memadai untuk menutupi                           liabilities are adequate to cover the Group’s
    liabilitas imbalan kerja Grup.                                           employee benefits liabilities.

23. MODAL SAHAM DAN SAHAM TREASURI                                     23. CAPITAL STOCK AND TREASURY SHARES

    Susunan     pemegang      saham     Perusahaan                           The composition of the Company’s stockholders as
    pada tanggal 30 Juni 2024 dan 31 Desember 2023                           of June 30, 2024 and December 31, 2023 are as
    adalah sebagai berikut:                                                  follows:

                                                          30/06/2024
                                                Ditempatkan dan disetor penuh/
                                                   Subscribed and fully paid
                                    Jumlah               Persentase
                                    saham/              kepemilikan/
                                   Number of            Percentage of               Jumlah/
                                    shares               ownership                   Total
       Prinsep Management Ltd.      2.731.944.330                75,27%         2.731.944.330.000                     Prinsep Management Ltd.
       PT Fangionoperkasa Sejati      239.155.670                 6,59%           239.155.670.000                    PT Fangionoperkasa Sejati
       Masyarakat (masing-masing
          di bawah 5%)               621.411.800                 17,12%           621.411.800.000                       Public (each below 5%)
       Sub Jumlah                   3.611.411.800                99,50%         3.611.411.800.000                                     Sub total

       Saham treasuri                 18.000.000                  0,50%            18.000.000.000                              Treasury shares
       Jumlah                       3.629.411.800                100,00%        3.629.411.800.000                                        Total


                                                          31/12/2023
                                                Ditempatkan dan disetor penuh/
                                                   Subscribed and fully paid
                                    Jumlah               Persentase
                                    saham/              kepemilikan/
                                   Number of            Percentage of               Jumlah/
                                    shares               ownership                   Total
  Prinsep Management Ltd.           2.750.844.330                75,79%         2.750.844.330.000                     Prinsep Management Ltd.
  PT Fangionoperkasa Sejati           239.155.670                 6,59%           239.155.670.000                    PT Fangionoperkasa Sejati
  Masyarakat (masing-masing
        dibawah 5%)                  639.411.800                 17,62%           639.411.800.000                       Public (each below 5%)
  Jumlah                            3.629.411.800                100,00%        3.629.411.800.000                                        Total


                                                                       a.
   Berdasarkan      Akta     No.    26     tanggal                           Based on Notarial Deed No. 26 dated
   14      Agustus       2020     dari     Notaris                           August           14,        2020   by       Notary
   Ir. Nanette Cahyanie Handari Adi Warsito, S.H.,                           Ir. Nanette Cahyanie Handari Adi Warsito, S.H., the
   pemegang saham menyetujui untuk mengeluarkan                              shareholders agreed to issue a maximum of
   saham sebanyak-banyaknya 544.411.800 lembar                               544,411,800 shares each Rp1,000 par value or
   saham yang masing-masing bernilai Rp1.000 atau                            equivalent with Rp544,411,800,000 through an
   setara    dengan    Rp544.411.800.000   melalui                           initial public offering to public.
   penawaran umum perdana kepada masyarakat.




                                                            83
Page 87
                                                              The original consolidated financial statements included herein are in
                                                                                                             Indonesian language.

PT FAP AGRI Tbk                                             PT FAP AGRI Tbk
DAN ENTITAS ANAK                                            AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                               FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                               As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)           (Expressed in Rupiah, unless otherwise stated)



23. MODAL SAHAM                                             23. CAPITAL STOCK

   Pada Tahun 2023, Prinsep Management Ltd                     In 2023, Prinsep Management Ltd will release
   melepas saham kepada masyarakat dan PT                      shares to the public and PT Fangionoperkasa Sejati,
   Fangionoperkasa Sejati masing-masing sejumlah               amounting to 95,000,000 and 84,905,670 shares
   95.000.000 dan 84.905.670 lembar dan sudah                  respectively, which have been reported to the
   dilaporkan ke Otoritas Jasa Keuangan (OJK) sesuai           Financial Services Authority (OJK) in accordance
   peraturan yang berlaku.                                     with applicable regulations.

   Pada tanggal 26 Januari 2024, Prinsep Management            On January 26 2024, Prinsep Management Ltd
   Ltd melepas saham sejumlah 9.450.000 lembar                 released 9,450,000 shares to the public and this has
   kepada masyrakat dan sudah dilaporkan ke Otoritas           been reported to the Financial Services Authority
   Jasa Keuangan (OJK) sesuai peraturan yang                   (OJK) in accordance with applicable regulations.
   berlaku.

   Pada tanggal 5 Februari 2024, Prinsep Management            On February 5 2024, Prinsep Management Ltd
   Ltd melepas saham sejumlah 9.450.000 lembar                 released 9,450,000 shares to the public and this has
   kepada masyrakat dan sudah dilaporkan ke Otoritas           been reported to the Financial Services Authority
   Jasa Keuangan (OJK) sesuai peraturan yang                   (OJK) in accordance with applicable regulations.
   berlaku.

   Pada tanggal 8 Mei 2024, Prinsep Management Ltd             On May 8 2024, Prinsep Management Ltd released
   melepas saham sejumlah 11.320.000 lembar                    11,320,000 shares to the public and this has been
   kepada masyrakat dan sudah dilaporkan ke Otoritas           reported to the Financial Services Authority (OJK) in
   Jasa Keuangan (OJK) sesuai peraturan yang                   accordance with applicable regulations.
   berlaku.

   Pada tanggal 15 Mei 2022, Perusahaan                        On May 15, 2022, the Company announced that it
   mengumumkan untuk melakukan pembelian                       would buy back shares in a maximum amount of IDR
   kembali saham dengan jumlah sebanyak-                       900,000,000,000.-. The Company's share buyback
   banyaknya sebesar Rp900.000.000.000,-. Periode              period is no later than 18 months after approval of
   pembelian kembali saham Perusahaan paling lama              the Company's share buyback by the AGMS. On
   18 bulan setelah disetujui Pembelian Kembali oleh           May 2 and June 13 2024, the Company repurchased
   saham Perusahaan oleh RUPST. Pada tanggal 2                 its ordinary shares through purchases on the
   Mei dan 13 Juni 2024 , Perusahaan telah melakukan           Indonesia Stock Exchange of 9,500,000 and
   pembelian kembali saham biasanya melalui                    8,500,000 shares respectively. The total payment to
   pembelian di Bursa Efek Indonesia sebanyak                  acquire these shares is IDR 95,503,135,134
   masing-masing 9.500.000 dan 8.500.000 lembar                including securities brokerage fees and other fees.
   saham. Jumlah pembayaran untuk mengakuisisi
   saham tersebut adalah sebesar Rp95.503.135.134
   termasuk biaya perantara pedagang efek dan biaya
   lainya.




                                                       84
Page 88
                                                                                           The original consolidated financial statements included herein are in
                                                                                                                                          Indonesian language.

PT FAP AGRI Tbk                                                                        PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                       AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                          As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah, unless otherwise stated)



24. TAMBAHAN MODAL DISETOR                                                             24. ADDITIONAL PAID-IN CAPITAL

                                                           30/06/2024                  31/12/2023

  Agio saham                                                                                                                     Premium on capital stock
    Penawaran umum saham perdana                       457.305.912.000             457.305.912.000                                  Initial public offering
    Biaya emisi                                         (2.867.573.133)             (2.867.573.133)                                 Share issuance cost

  Sub jumlah                                           454.438.338.867             454.438.338.867                                                 Sub total

  Dampak dari restrukturisasi entitas anak                   4.741.804.908              4.741.804.908                Impact from subsidiaries restructuring
  Pengampunan pajak                                          2.907.499.550              2.907.499.550                                        Tax amnesty

  Jumlah                                               462.087.643.325             462.087.643.325                                                     Total

    Agio saham                                                                              Premium on capital stock

    Perusahaan melakukan penawaran umum saham                                               The Company conduct public offering of its
    kepada masyarakat sebanyak 544.411.800 saham                                            544,411,800 shares with nominal value of Rp1,000
    dengan nilai nominal sebesar Rp1.000 per saham                                          per share at a offering price of Rp1,840 per share.
    dengan harga penawaran sebesar Rp1.840 per                                              The excess amount received from the issuance of
    saham. Selisih lebih jumlah yang diterima dari                                          share     over    its    par     value   amounting
    pengeluaran saham terhadap nilai nominalnya                                             Rp454,438,338,867 recorded as Additional Paid-in
    sebesar Rp454.438.338.867 dicatat sebagai bagian                                        Capital, net of share issuance cost amounting to
    dari Tambahan Modal Disetor setelah dikurangi total                                     Rp2,867,573,133. On January 4, 2021, the
    biaya emisi saham sebesar Rp2.867.573.133. Pada                                         Company listed all of its issued shares on the
    tanggal 4 Januari 2021, Perusahaan mencatatkan                                          Indonesia Stock Exchange.
    seluruh saham yang telah diterbitkan di Bursa Efek
    Indonesia.

25. KEPENTINGAN NONPENGENDALI                                                      25. NON-CONTROLLING INTEREST

    Akun ini merupakan bagian kepentingan                                                  This account represents the share of non-
    nonpengendali atas aset bersih dan rugi bersih                                         controlling interest in the net assets and net loss of
    entitas anak dengan rincian sebagai berikut:                                           the subsidiaries with details as follows:
                                                                      30/06/2024


                                                Bagian atas          Penghasilan
                                                 laba (rugi)        komprehensif
                           Saldo awal/              neto/             lain/Other                              Saldo akhir/
                           Beginning            Share in net       comprehensive           Dividen/             Ending
                                                profit (loss)           income             Dividend             balance

  BBS                      26.972.715.560        783.397.275                       -                -      27.756.112.835              BBS
  MCA                      25.276.146.930     (1.056.773.400)                      -                -      24.219.373.530              MCA
  SAU                       6.540.431.777     (1.582.938.077)                      -                -       4.957.493.700              SAU
  KPL                      11.495.782.951       (451.790.955)                      -                -      11.043.991.996              KPL
  KHL                      37.996.384.001      3.686.106.690                       -                -      41.682.490.691              KHL
  BSI                      20.246.830.553        211.762.347                       -                -      20.458.592.900               BSI
  TMSJ                     25.177.223.596      2.099.404.009                       - (12.400.000.000)      14.876.627.605             TMSJ
  BHP                      29.322.532.475       (389.400.874)                      -                -      28.933.131.601              BHP
  RAKA                     13.165.313.594      2.083.271.157                       -  (8.250.000.000)       6.998.584.751             RAKA
  FNB                           1.000.000                   -                      -     (18.000.000)         (17.000.000)             FNB

  Jumlah                 196.194.361.437       5.383.038.172                       -    (20.668.000.000)   180.909.399.609            Total


                                                                           31/12/2023

                                                                 Bagian atas             Penghasilan
                                                                  laba (rugi)           komprehensif
                                             Saldo awal/             neto/               lain/Other
                                             Beginning           Share in net          comprehensive        Saldo akhir/
                                              balance            profit (loss)             income          Ending balance

  BBS                                       28.520.668.986       (1.570.583.498)           22.630.072       26.972.715.560                               BBS
  MCA                                       26.886.464.187       (1.672.129.601)           61.812.344       25.276.146.930                               MCA
  SAU                                        9.212.045.404       (2.697.159.963)           25.546.336        6.540.431.777                               SAU
  KPL                                       12.462.322.921         (979.451.313)           12.911.343       11.495.782.951                               KPL
  KHL                                       30.888.132.605        7.079.246.893            29.004.503       37.996.384.001                               KHL
  BSI                                       18.976.403.406        1.274.496.329            (4.069.182)      20.246.830.553                                BSI
  TMSJ                                      22.095.223.045        3.060.090.789            21.909.762       25.177.223.596                              TMSJ
  BHP                                       28.482.163.962          833.013.047             7.355.466       29.322.532.475                               BHP
  RAKA                                      10.394.146.817        2.780.515.269            (9.348.492)      13.165.313.594                              RAKA
  FNB                                            1.000.000                    -                     -            1.000.000                               FNB

  Jumlah                                 187.918.571.333          8.108.037.952           167.752.152      196.194.361.437                               Total



                                                                            85
Page 89
                                                                                        The original consolidated financial statements included herein are in
                                                                                                                                       Indonesian language.

 PT FAP AGRI Tbk                                                                   PT FAP AGRI Tbk
 DAN ENTITAS ANAK                                                                  AND ITS SUBSIDIARIES
 CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
 KONSOLIDASIAN                                                                     FINANCIAL STATEMENTS
 Tanggal 30 Juni 2024 dan 2023                                                     As of June 30, 2024 and 2023
 (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                 (Expressed in Rupiah, unless otherwise stated)



 26. PENJUALAN NETO                                                                26. NET SALES

        a.    Berdasarkan komoditas                                                     a.     By commodity

                                                            30/06/2024             30/06/2023

             Minyak sawit                                1.919.099.602.665      1.827.126.311.847                                      Crude palm oil
             Tandan buah segar                             306.121.712.395        291.694.291.421                                  Fresh fruit bunches
             Minyak inti sawit                              90.118.821.500         38.075.315.608                                      Palm kernel oil
             Inti sawit                                     88.122.171.634        137.825.766.590                                          Palm kernel
             Minyak goreng                                  75.935.436.030        156.078.805.532                                           Edible oils
             Bungkil Inti Sawit                              7.643.294.000          7.434.610.500                                 Plam kernel expeller

             Jumlah                                      2.487.041.038.224      2.458.235.101.498                                                      Total


 b.     Berdasarkan pelanggan                                                    b.     By customer


                                                            30/06/2024             30/06/2023

             Pihak berelasi (Catatan 30)                  317.071.346.806        819.604.881.586                               Related parties (Note 30)

             Pihak ketiga                                                                                                                Third parties
              PT Green Global Utama                        780.586.097.567        349.315.212.660                             PT Green Global Utama
              PT Multi Nabati Sulawesi                     478.342.746.369        576.173.683.630                            PT Multi Nabati Sulawesi
              PT Smart Tbk                                 380.705.389.910                      -                                       PT Smart Tbk
              PT Agro Makmur Raya                           96.737.600.733        288.145.466.312                              PT Agro Makmur Raya
              PT Citra Riau Sarana                          90.242.732.535                      -                               PT Citra Riau Sarana
              PT Pilar Utama Labuan                         89.315.362.444         89.735.926.972                             PT Pilar Utama Labuan
              PT Multimas nabati asahan                     51.474.434.000         32.696.432.435                          PT Multimas nabati asahan
              PT Energi Unggul Persada                                   -         76.914.807.500                          PT Energi Unggul Persada
              Lain - lain (masing-masing                                                                                          Others (each below
               dibawah Rp50 milliar)                       202.565.327.860        225.648.690.403                                       Rp50 billion)

             Sub jumlah pihak ketiga                     2.169.969.691.418       1.638.630.219.912                              Sub total third parties

             Jumlah                                      2.487.041.038.224       2.458.235.101.498                                                     Total


        Seluruh pendapatan Grup diakui pada suatu waktu                                 All Group's revenue recognised at point in time.
        tertentu.

        Berikut ini adalah rincian pendapatan yang melebihi                              The above revenues in March 2024 and 2023
        10% dari jumlah pendapatan bersih masing-masing                                  include revenue to the following customers which
        pada periode 30 Juni 2024 dan 2023:                                              represent more than 10% of the net revenue of the
                                                                                         respective years:
                                                                                              Persentase terhadap
                                                                                                jumlah penjualan/
                                                                                             Percentage to revenues

                                       30/06/2024             30/06/2023              30/06/2024              30/06/2023

Pihak berelasi                                                                                                                                  Related party
   PT Ciliandra Perkasa                              -        478.910.654.820                      0,00%              19,48%           PT Ciliandra Perkasa

      Sub jumlah                                    -         478.910.654.820                      0,00%              19,48%                        Sub total

Pihak ketiga                                                                                                                                    Third parties
   PT Multi Nabati Sulawesi            478.342.746.369        576.173.683.630                   19,23%                23,44%        PT Multi Nabati Sulawesi
   PT Green Global Utama               780.586.097.567        349.315.212.660                   31,39%                14,21%         PT Green Global Utama
   PT Smart Tbk                        380.705.389.910                      -                   15,31%                 0,00%                   PT Smart Tbk

      Sub jumlah pihak ketiga      1.639.634.233.846          925.488.896.290                      65,93%             37,65%            Sub total third parties




                                                                           86
Page 90
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT FAP AGRI Tbk                                                  PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                 AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                    FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                    As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                (Expressed in Rupiah, unless otherwise stated)


27. BEBAN POKOK PENJUALAN                                        27. COST OF GOODS SOLD

                                            30/06/2024           30/06/2023

  Tandan buah segar                                                                                         Fresh fruit bunches
   Penyusutan (Catatan 12, 13 dan 14)     262.460.978.427      260.880.004.412               Depreciation (Notes 12,13 and 14)
   Pemeliharaan Tanaman Menghasilkan      391.334.005.959      312.936.521.347                Maintenance of mature plantation
   Biaya Panen dan Pengangkutan           280.396.906.884      233.919.714.858                 Harvesting and freight expenses
   Biaya Umum Kebun                       164.580.968.543      151.544.350.593                     Plantation general expenses
   Pembelian Tandan Buah Segar                          -       87.767.310.528                 Purchases of fresh fruit bunches
   Cadangan Imbalan kerja (Catatan 22)        479.342.430         304.792.290        Provision for employee benefits (Note 22)

  Pemakaian tandan buah segar                                                                        Fresh fruit bunches used for
     untuk Produksi Minyak Sawit,                                                                  production of palm oil palm
     Inti Sawit dan turunannya           (857.753.832.685)     (765.440.195.989)                    kernel, and its derivatives

   Beban Pokok Penjualan -                                                                                   Cost of goods sold -
     Tandan Buah Segar                    241.498.369.558      281.912.498.039                                fresh fruit bunches
  Minyak sawit, inti sawit                                                                        Crude palm oil, palm kernel
    dan turunannya                                                                                        and its derivatives
   Pembelian Tandan Buah Segar            271.904.380.015       162.250.282.678              Purchases of fresh fruit bunches
   Pemakaian Tandan Buah Segar            857.753.832.685       765.440.195.989                  Usage of fresh fruit bunches
   Penyusutan (Catatan 12, 13 dan 14)      40.552.700.452        36.448.232.888             Depreciation (notes 12,13 and 14)
   Pengolahan                              27.993.499.707        25.637.832.614                                   Processing
   Beban Umum Pabrik                       22.378.249.197        22.786.264.515              Manufacturing general expenses

    Beban pokok produksi -                                                                          Cost of goods manufactured -
      minyak sawit, inti sawit                                                                      crude palm oil, palm kernel
      dan turunannya                     1.220.582.662.056    1.012.562.808.684                              and its derivatives
    Persediaan Barang Jadi:                                                                            Finished goods inventory:
      Awal Tahun (Catatan 7)               493.068.061.453      565.850.616.755                     Beginning balance (note 7)
      Pembelian                            499.549.708.649      591.364.477.389                                       Purchase
      Akhir Tahun (Catatan 7)             (444.566.294.569)    (361.438.401.220)                       Ending balance (note 7)
     Beban pokok penjualan -                                                                                  Cost of goods sold -
       minyak sawit, inti sawit                                                                        crude palm oil, palm kernel
       dan turunannya                    1.768.634.137.589    1.808.339.501.608                                and its derivatives
          Jumlah                         2.010.132.507.147    2.090.251.999.647                                                Total



28. BEBAN USAHA                                                  28. OPERATING EXPENSES

    a.    Beban penjualan                                             a.   Selling expenses

                                            30/06/2024           30/06/2023

         Pengangkutan                     131.766.785.080      125.027.596.514                                   Freight expenses
         Bongkar muat                       7.816.869.020       13.302.273.964                               Unloading and loading
         Lain-lain                          3.483.445.494        4.558.278.416                                              Others
         Jumlah                          143.067.099.594       142.888.148.894                                                  Total




                                                         87
Page 91
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT FAP AGRI Tbk                                                       PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                      AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                         FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                         As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                     (Expressed in Rupiah, unless otherwise stated)


28. BEBAN USAHA (lanjutan)                                            28. OPERATING EXPENSES (continued)

    b.    Beban umum dan administrasi                                    b.   General and administrative expenses

                                                   30/06/2024         30/06/2023
         Gaji, upah dan tunjangan                  26.736.241.401    28.568.132.203          Salaries, wages, allowances and bonus
         Cadangan imbalan kerja (Catatan 22)       24.234.804.064    13.537.619.488        Provision for employee benefits (Note 22)
         Pajak bumi, bangunan dan retribusi        29.828.095.986    20.533.940.073               Land, building taxes and retribution
         Asuransi                                   3.826.474.125     3.299.678.429                                         Insurance
         Perjalanan dinas                           4.286.081.758     3.173.384.377                                          Traveling
         Jasa profesional                           4.648.580.960     2.294.128.220                                 Professional fees
         Pemeliharaan                                 946.538.831     2.180.904.033                                      Maintenance
         Keamanan dan konsumsi                      2.383.208.307     1.459.294.479                          Safety and consumption
         Penyusutan (Catatan 13)                    1.123.343.086     1.000.425.837                            Depreciation (Note 13)
         Alat tulis, foto copy, jilid dan cetak       792.107.535       426.276.634        Stationaries, photo copy, binding and print
         Utilitas                                     581.473.238       377.685.804                                              Utility
         Pengadaan dan pelatihan tenaga kerja         261.083.874       286.545.814              Manpower procurement and training
         Sumbangan                                    281.550.661       230.574.140                                           Donation
         Sewa                                         311.310.392       275.022.559                                            Rental
         Lain-lain                                  4.667.559.102     5.729.008.191                                            Others

         Jumlah                                   104.908.453.320    83.372.620.281                                                  Total


29. PENGHASILAN DAN BEBAN KEUANGAN                                    29. FINANCE INCOME AND COSTS

    a.    Penghasilan keuangan                                           a.   Finance income

                                                   30/06/2024         30/06/2023

         Jasa giro                                 12.585.714.169     10.482.422.003                          Interest on bank accounts
         Pendapatan klaim asuransi                    682.866.138         40.497.656                            Insurance claim income

         Jumlah                                    13.268.580.307     10.522.919.659                                                 Total


    b.    Beban keuangan                                                 b.   Finance costs
                                                   30/06/2024         30/06/2023

         Biaya pinjaman bank                      121.518.236.658    117.015.490.585                              Bank borrowing cost
         Amortisasi biaya perolehan                 1.326.846.222      2.085.698.420              Amortization of loan acquisition cost
         Administrasi bank                          2.639.860.584        185.458.973                                     Bank charges
         Beban bunga liabilitas sewa                   36.240.000         37.049.816                        Interest on lease liabilities

         Jumlah                                   125.521.183.464    119.323.697.794                                                 Total




                                                                88
Page 92
                                                                                   The original consolidated financial statements included herein are in
                                                                                                                                  Indonesian language.

PT FAP AGRI Tbk                                                               PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                              AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                 FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                 As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                             (Expressed in Rupiah, unless otherwise stated)


29. PENGHASILAN DAN BEBAN KEUANGAN                                            29. FINANCE INCOME AND COSTS

    b. Beban keuangan (lanjutan)                                              b.    Finance costs (continued)


          Alokasi beban          keuangan    adalah    sebagai                      The allocation of finance costs are as follows:
          berikut:
                                                  30/06/2024                  30/06/2023

          Diakui sebagai beban lain-lain         117.917.301.151         104.751.799.968                        Recognise as other expenses
          Kapitalisasi ke tanaman belum                                                                     Capitalized to immature plantation
            menghasilkan (Catatan 12) dan                                                                                     (Note 12) and
            non-tanaman (Catatan 13)                  5.874.723.276           12.263.648.230                      non-plantation (Note 13)
          Kapitalisasi ke proyek perkebunan                                                                          Capitalized to partnership
            kemitraan (Catatan 11)                     974.505.418             2.308.249.596                   plantation project (Note 11)

          Jumlah                                 124.766.529.845          119.323.697.794                                                     Total


30. TRANSAKSI-TRANSAKSI DAN SALDO DENGAN                                      30. TRANSACTIONS    AND                      BALANCES             WITH
    PIHAK-PIHAK BERELASI                                                          RELATED PARTIES

    a.    Sifat hubungan berelasi                                                  a.   Nature of related parties


                                                                Sifat hubungan
                                                                    berelasi/                             Sifat saldo /akun transaksi
                    Nama pihak berelasi/                           Nature of                              Nature of account balance/
                   Name of related parties                      related parties                              accounts transaction
         Prinsep Management Ltd                        Pemegang saham mayoritas             Utang kepada pemegang saham/
                                                       Perusahaan/                          Due to shareholder
                                                       Major shareholder of
                                                       the Company

         PT Fangionoperkasa Sejati                     Pemegang saham Perusahaan/           Utang lain-lain/
                                                       Shareholder of the Company           Other payables

         PT Ketapang Agro Lestari                      Perusahaan afiliasi/                 Piutang usaha, uang muka penjualan, utang usaha,
                                                       Affiliated company                   penjualan dan pembelian/
                                                                                            Trade receivables, advances from customer,
                                                                                            trade payables, sales and purchase
         PT Citra Agro Kencana                         Perusahaan afiliasi/                 Piutang usaha, utang usaha, penjualan,
                                                       Affiliated company                   dan pembelian/
                                                                                            Trade receivables, trade payables, purchase, and sales

         PT Setia Agrindo Mandiri                      Perusahaan afiliasi/                 Piutang lain-lain dan utang usaha/
                                                       Affiliated company                   Other receivables and trade payables

         PT Subur Arum makmur                          Perusahaan afiliasi/                 Piutang usaha dan penjualan/
                                                       Affiliated company                   Trade receivables and sales

         PT Ciliandra Perkasa                          Perusahaan afiliasi/                 Piutang usaha dan penjualan/
                                                       Affiliated company                   Trade receivables and sales




                                                                   89
Page 93
                                                                           The original consolidated financial statements included herein are in
                                                                                                                          Indonesian language.

PT FAP AGRI Tbk                                                         PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                        AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                           FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                           As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                       (Expressed in Rupiah, unless otherwise stated)


30. TRANSAKSI-TRANSAKSI DAN SALDO DENGAN                                30. TRANSACTIONS    AND    BALANCES                             WITH
    PIHAK-PIHAK BERELASI (lanjutan)                                         RELATED PARTIES (continued)

    a.    Sifat hubungan berelasi (lanjutan)                               a.   Nature of related parties (continued)


         PT Arindo Trisejahtera                  Perusahaan afiliasi/                Piutang usaha dan penjualan/
                                                 Affiliated company                  Trade receivables and sales

         PT Bumi Sawit Perkasa                   Perusahaan afiliasi/                Piutang usaha dan penjualan/
                                                 Affiliated company                  Trade receivables and sales

         PT Muriniwood Indah Industry            Perusahaan afiliasi/                Piutang usaha dan penjualan/
                                                 Affiliated company                  Trade receivables and sales

         PT Adhitya Serayakorita                 Perusahaan afiliasi/                Pitutang usaha dan penjualan/
                                                 Affiliated company                  Trade receivables and sales

         PT Pancasurya Garden                    Perusahaan afiliasi/                Utang lain-lain/
                                                 Affiliated company                  Other payables


    b.    Transaksi hubungan berelasi                                      b.   Transactions with related parties

           Persentase saldo masing-masing aset pihak                            The percentage of each asset to related
           berelasi terhadap jumlah aset adalah sebagai                         parties balances to total assets are as follows:
           berikut:
                                               30/06/2024               31/12/2023

         Piutang usaha (Catatan 6)                                                                           Trade receivables (Note 6)
          PT Citra Agro Kencana              24.458.704.233             29.774.368.200                           PT Citra Agro Kencana
          PT Bumi Sawit Perkasa              17.329.172.114                          0                           PT Bumi Sawit Perkasa
          PT Ketapang Agro Lestari              103.265.520             29.328.035.819                         PT Ketapang Agro Lestari
          PT Ciliandra Perkasa                            -             10.132.628.206                             PT Ciliandra Perkasa
          PT Subur Arummakmur                             -              5.888.687.640                           PT Subur Arummakmur

         Jumlah                              41.891.141.867             79.686.742.395                                                 Total

         Persentase terhadap total aset                0,50%                    0,92%                        Percentage of total assets


                                               30/06/2024               31/12/2023

         Piutang lain-lain                                                                                            Other receivables
           PT Citra Agro Kencana                  90.112.944               89.564.169                           PT Citra Agro Kencana
           Lain-lain (masing-masing                                                                                Others (each below
              dibawah Rp100 juta)                 74.625.244               28.040.498                                  Rp100 million)
         Jumlah                                 164.738.188               117.604.667                                                  Total

         Persentase terhadap total aset                0,00%                     0,00%                       Percentage of total assets



           Persentase saldo masing-masing liabilitas                            The percentage of each liabilities to related
           pihak berelasi terhadap jumlah liabilitas                            parties balances to total liabilities are as
           adalah sebagai berikut:                                              follows:

                                               30/06/2024               31/12/2023
         Utang usaha (Catatan 15)                                                                             Trade payables (Note 15)
          PT Subur Arum Makmur                    3.990.887               550.532.789                          PT Subur Arum Makmur
          Lain-lain (masing-masing                                                                                 Others (each below
            dibawah Rp100 juta)                   6.281.454                15.369.910                                 Rp100 million)
         Jumlah                                  10.272.341               565.902.699                                                  Total
         Persentase terhadap
           total liabilitas                            0,00%                     0,01%                    Percentage of total liabilities




                                                             90
Page 94
                                                                 The original consolidated financial statements included herein are in
                                                                                                                Indonesian language.

PT FAP AGRI Tbk                                               PT FAP AGRI Tbk
DAN ENTITAS ANAK                                              AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                 FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                 As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)             (Expressed in Rupiah, unless otherwise stated)


30. TRANSAKSI-TRANSAKSI DAN SALDO DENGAN                      30. TRANSACTIONS    AND    BALANCES                             WITH
    PIHAK-PIHAK BERELASI (lanjutan)                               RELATED PARTIES (continued)

    b.    Transaksi hubungan berelasi (lanjutan)                   b.    Transactions with related parties
                                                                         (continued)

                                           30/06/2024         31/12/2023
         Utang lain-lain (Catatan 16)                                                                Other payables (Note 16)
          PT Fangionoperkasa sejati       21.169.346.488      30.391.332.642                         PT Fangionoperkasa sejati
          PT Citra Agro Kencana               37.043.678       4.556.010.284                            PT Citra Agro Kencana
          PT Ketapang Agro Lestari         1.190.280.000       3.995.940.000                          PT Ketapang Agro Lestari
          PT Pancasurya Garden               161.325.000         320.000.000                            PT Pancasurya Garden

          Jumlah                          22.557.995.166      39.263.282.926                                                 Total

         Persentase terhadap
           total liabilitas                         0,48%               0,86%                   Percentage of total liabilities

                                           30/06/2024         30/06/2023
         Penjualan tandan buah segar                                                             Sales of fresh fruit bunches
           (Catatan 26)                                                                                            Note (26)
           PT Citra Agro Kencana        135.197.361.688      113.892.934.019                         PT Citra Agro Kencana
           PT Bumi Sawit Perkasa         81.608.986.980                    -                        PT Bumi Sawit Perkasa
           PT Ketapang Agro Lestari                   -       88.065.430.427                      PT Ketapang Agro Lestari

         Sub jumlah                      216.806.348.668     201.958.364.446                                          Sub total
         Penjualan minyak sawit, inti                                                  Sales of crude palm oil, palm kernel
           sawit dan turunannya                                                                       and its derivatives
           (Catatan 26)                                                                                          Note (26)
           PT Citra Agro Kencana          25.782.920.043      37.739.659.260                       PT Citra Agro Kencana
           PT Adhitya Serayakorita        74.090.861.168      47.360.947.690                      PT Adhitya Serayakorita
           PT Subur Arum Makmur              391.216.927      14.563.510.000                      PT Subur Arum Makmur
           PT Ciliandra Perkasa                        -     478.910.654.820                         PT Ciliandra Perkasa
           PT Ketapang Agro Lestari                    -      39.071.745.370                     PT Ketapang Agro Lestari

         Sub jumlah                       100.264.998.138     617.646.517.140                                           Sub total
         Jumlah                           317.071.346.806     819.604.881.586                                                Total

         Persentase terhadap
           total Penjualan                          12,75%              33,34%                          Percentage of total sales


                                           30/06/2024         31/06/2023

         Pembelian minyak sawit                                                                       Sales of crude palm oil
           Dan turunannya                                                                                and its derivatives
           PT Adhitya Serayakorita        67.458.537.508     140.528.354.627                         PT Adhitya Serayakorita
         Jumlah                           67.458.537.508     140.528.354.627                                                 Total

         Persentase terhadap jumlah                                                        Percentage of total purchases of
           Pembelian minyak sawit                                                         crude palm oil and its derivatives
           dan turunannya                          13,50%               6,72%




                                                        91
Page 95
                                                                                                                      The original consolidated financial statements included herein are in
                                                                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                               (Expressed in Rupiah, unless otherwise stated)



31. INFORMASI SEGMEN                                                                                            31. SEGMENT INFORMATION

    Segmen Usaha                                                                                                       Primary Segments

    Segmen operasi dilaporkan sesuai dengan                                                                            Operating segments are reported in accordance with
    pelaporan internal kepada pembuat keputusan                                                                        the internal reporting provided to the chief operating
    operasional, yang bertanggung jawab atas alokasi                                                                   decision maker, who is responsible for allocating
    sumber daya ke masing-masing segmen yang                                                                           resources to the reportable segments and assesses
    dilaporkan serta menilai kinerja masing-masing                                                                     their performance. The Group has two reportable
    segmen tersebut. Grup memiliki dua segmen yang                                                                     segments, namely; plantations and manufacturing.
    dilaporkan, meliputi; perkebunan dan pabrikasi.

    Faktor-faktor digunakan untuk mengidentifikasi                                                                     Factors used to identify the entity’s reportable
    segmen dilaporkan adalah sebagai berikut:                                                                          segments are as follows:

    •        Wilayah geografis                                                                                         •       Geographical areas
    •        Jenis produk dan jasa                                                                                     •       Types of products
                                                                                                  30/06/2024


                                                                                                    Jumlah
                                                                                                   sebelum
                                                                                                   eliminasi/
                                    Perkebunan/         Pabrikasi/           Lainnya/            Total before             Eliminasi/          Konsolidasian/
                                    Plantations        Manufacturing         Others              elimination             Elimination           Consolidation

  Penjualan neto                                                                                                                                                                                     Net sales
  Penjualan eksternal              306.121.711.112     2.104.983.891.082     75.935.436.030      2.487.041.038.224                      -      2.487.041.038.224                                  External sales
  Penjualan antar-segmen           111.214.768.467     1.995.747.529.762                  -      2.106.962.298.229     (2.106.962.298.229)                     -                            Inter-segment sales

  Jumlah pendapatan neto            417.336.479.579     4.100.731.420.844     75.935.436.030     4.594.003.336.453      (2.106.962.298.229)     2.487.041.038.224                              Total net sales
  Beban pokok penjualan            (372.227.728.722)   (3.677.408.539.146)   (67.458.537.508)   (4.117.094.805.376)      2.106.962.298.229     (2.010.132.507.147)                           Cost of goods sold

  Laba bruto                        45.108.750.857        423.322.881.698     8.476.898.522        476.908.531.077                       -        476.908.531.077                                   Gross profit
  Beban penjualan                                                                                                                                (143.067.099.594)                             Selling expenses
  Beban umum dan administrasi                                                                                                                    (104.908.453.320)        General and administrative expenses
  Penghasilan keuangan                                                                                                                              13.268.580.307                             Finance incomes
  Laba selisih kurs - neto                                                                                                                        (54.050.290.463)             Gain on foreign exchange - net
  Laba perubahan nilai wajar                                                                                                                                                 Profit from the fair value changes
    aset biologis                                                                                                                                  34.132.315.793                       of biological assets
  Beban keuangan                                                                                                                                 (117.917.301.151)                                 Finance costs
  Beban pajak                                                                                                                                        (171.228.135)                            Tax expenses
  Rugi konversi proyek                                                                                                                                                       Loss on convertion of partnership
    perkebunan kemitraan                                                                                                                                        -                         plantation project
  Lain-lain neto                                                                                                                                   16.294.717.309                                    Others - net

  Laba sebelum pajak penghasilan                                                                                                                  120.489.771.823                     profit before income tax

  Beban pajak penghasilan                                                                                                                         (32.057.046.174)                        Income tax expense
  Penghasilan komprehensif lain                                                                                                                                  -                Other comprehensive income

  Jumlah laba komprehensif
    tahun berjalan                                                                                                                                 88.432.725.649    Total comprehensive income for the year

  Laporan posisi keuangan                                                                                                                                                           Consolidated statements of
      konsolidasian *                                                                                                                                                                   financial position *
  Segmen aset                                   4.706.138.671.981       8.289.136.535.516       12.995.275.207.497     12.995.275.207.497      25.990.550.414.994                              Segment assets
  Segmen liabilitas                               513.694.318.914       5.415.384.577.883        5.929.078.896.797      5.929.078.896.797      11.858.157.793.594                            Segment liabilities




                                                                                                    92
Page 96
                                                                                                                          The original consolidated financial statements included herein are in
                                                                                                                                                                         Indonesian language.

PT FAP AGRI Tbk                                                                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                                  (Expressed in Rupiah, unless otherwise stated)



32. INFORMASI SEGMEN (lanjutan)                                                                                    32. SEGMENT INFORMATION (continued)

       Segmen Usaha (lanjutan)                                                                                              Primary Segments (continued)
                                                                                                    3106/2023


                                                                                                      Jumlah
                                                                                                     sebelum
                                                                                                     eliminasi/
                                       Perkebunan/        Pabrikasi/           Lainnya/            Total before               Eliminasi/           Konsolidasian/
                                       Plantations       Manufacturing         Others              elimination               Elimination            Consolidation

     Penjualan neto                                                                                                                                                                                        Net sales
     Penjualan eksternal              291.694.291.421      2.010.462.004.545     156.078.805.532   2.458.235.101.498                           -    2.458.235.101.498                                 External sales
     Penjualan antar-segmen            13.598.927.366      1.410.948.341.652                   -   1.424.547.269.018         (1.424.547.269.018)                     -                           Inter-segment sales

     Jumlah pendapatan neto            305.293.218.787     3.421.410.346.197     156.078.805.532     3.882.782.370.516       (1.424.547.269.018)     2.458.235.101.498                              Total net sales
     Beban pokok penjualan           (331.143.442.227)   (3.183.655.826.438)   (140.528.354.627)   (3.514.799.268.665)         1.424.547.269.018    (2.090.251.999.647)                           Cost of goods sold

     Laba bruto                       (25.850.223.440)      237.754.519.759       15.550.450.905      367.983.101.851                          -      367.983.101.851                                   Gross profit
     Beban penjualan                                                                                                                                 (142.888.148.894)                             Selling expenses
     Beban umum dan administrasi                                                                                                                      (83.372.620.281)          General and administrative expenses
     Penghasilan keuangan                                                                                                                              10.522.919.659                              Finance incomes
     Rugi selisih kurs - neto                                                                                                                          67.922.835.116                Loss on foreign exchange - net
                                                                                                                                                                                           Gain on sales of property
     Rugi perubahan nilai wajar                                                                                                                                                    Loss from the fair value changes
      aset biologis                                                                                                                                    (6.436.872.922)                           of biological assets
     Beban keuangan                                                                                                                                  (104.751.799.968)                                 Finance costs
     Lain-lain neto                                                                                                                                    16.157.020.410                                    Others - net

     Laba sebelum pajak penghasilan                                                                                                                    125.136.434.971                     profit before income tax

     Beban pajak penghasilan                                                                                                                          (30.384.982.774)                         Income tax expense
     Penghasilan komprehensif lain                                                                                                                                   -                 Other comprehensive income

     Jumlah laba komprehensif
       tahun berjalan                                                                                                                                   94.751.452.197    Total comprehensive income for the year



     31 Desember 2023                                                                                                                                                                           31 December 2023
     Laporan posisi keuangan                                                                                                                                                         Consolidated statements of
         konsolidasian *)                                                                                                                                                                    financial position *)
     Segmen aset                       5.032.639.017.700     8.053.367.449.729      (5.069.811.787.129) 13.086.006.467.429 (5.069.811.787.129) 8.016.194.680.300                                Segment assets
     Segmen liabilitas                   654.380.327.386     5.187.833.027.245       (1.301.381.797.545) 5.842.213.354.630 (1.301.381.797.545) 4.540.831.557.085                              Segment liabilities

*)                                                                                                                *)
     Aset segmen tidak termasuk pajak dibayar dimuka, aset                                                                Segment assets exclude prepaid taxes, tax amnesty assets,
     pengampunan pajak, aset pajak tangguhan dan taksiran                                                                 deferred tax assets, and estimated claim for tax refund while
     tagihan pajak penghasilan, sedangkan liabilitas segmen tidak                                                         segment liabilities exclude taxes payable and deferred tax
     termasuk utang pajak dan liabilitas pajak tangguhan.                                                                 liabilities.



       Segmen Geografis                                                                                                     Geographical Segments
                                                                                                     30/06/2024

                                                                                                                                                          Jumlah/
                                                Kalimantan Timur                 Kalimantan Utara                         Lainya*                          Total

     Penjualan                                                                                                                                                                                               Sales
      Lokal                                       1.758.430.296.260                2.653.830.076.596                   164.567.963.597               4.576.828.336.453                                      Local
      Eliminasi                                    (212.261.118.300)              (1.877.526.179.929)                                -              (2.089.787.298.229)                               Elimination

       Jumlah setelah dieliminasi                  1.546.169.177.960                  776.303.896.667                    164.567.963.597             2.487.041.038.224                  Total after elimination



                                                                                                     30/06/2023

                                                                                                                                                          Jumlah/
                                                Kalimantan Timur                 Kalimantan Utara                         Lainya*                          Total

     Penjualan                                                                                                                                                                                               Sales
      Lokal                                          958.906.372.827               2.682.677.864.527                   225.928.133.162               3.867.512.370.516                                      Local
      Eliminasi                                     (119.414.891.896)             (1.289.862.377.122)                                -              (1.409.277.269.018)                               Elimination

       Jumlah setelah dieliminasi                    839.491.480.931               1.392.815.487.405                   225.928.133.162               2.458.235.101.498               Total after elimination


     *) Lainya merupakan Riau dan Jakarta

       Penjualan antar segmen didasari perjanjian dari                                                                      Inter-segment sales are based on the agreement
       kedua belah pihak.                                                                                                   of both parties.




                                                                                                      93
Page 97
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                    PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                   AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                      FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                      As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                  (Expressed in Rupiah, unless otherwise stated)



33. LABA (RUGI) PER SAHAM                                          33. EARNING (LOSS) PER SHARE

    Laba (rugi) per saham dasar dihitung dengan                        Basic earning (loss) per share is computed by
    membagi laba bersih pemegang saham dengan                          dividing the net profit attributable to shareholders by
    rata-rata tertimbang saham biasa yang beredar                      the weighted average number of common shares
    pada tahun yang bersangkutan, sedangkan cara                       outstanding during the year, while the same method
    yang sama dilakukan untuk menghitung rugi per                      is used to calculate diluted loss per share adjusted
    saham dilusian disesuaikan dengan pengaruh efek                    for the effect of the dilutive potential ordinary shares
    berpotesi saham biasa yang dilutif (jika ada).                     (if any).

                                               30/06/2024          31/12/2023

  Laba (rugi) bersih tahun berjalan                                                                      Net profit (loss) for the year
    yang diatribusikan kepada                                                                               attributable to owners
    pemilik entitas induk                      83.049.687.477      89.951.057.684                                      of the parents
  Jumlah rata-rata tertimbang                                                                             Total of weighted average
    saham yang beredar                          3.624.828.467      3.629.411.800                                    of the parents

  Laba per saham dasar/dilusian                         22,91                24,78                Basic/diluted earning per share



34. INSTRUMEN KEUANGAN                                             34. FINANCIAL INSTRUMENTS

    Manajemen Risiko Keuangan                                          Financial Risk Management

    Risiko keuangan utama yang mungkin dihadapi                        The main financial risks that may be faced by the
    Grup adalah risiko kredit, risiko nilai tukar mata uang            Group are credit risk, foreign exchange rate risk,
    asing, risiko tingkat suku bunga dan risiko likuiditas.            interest rate risk, liquidity risk and commodity price
    Perhatian atas pengelolaan risiko ini telah                        risk. Attention of managing these risks has
    meningkat         secara        signifikan      dengan             significantly increased in light of the considerable
    mempertimbangkan perubahan dan volatilitas pasar                   change and volatility in Indonesian and international
    keuangan di Indonesia.                                             markets.

    (i)   Risiko Kredit                                                (i) Credit Risk

          Risiko kredit adalah risiko bahwa Grup akan                        Credit risk is the risk that the Group will incur
          mengalami kerugian yang          timbul  dari                      a loss arising from their customers, clients or
          pelanggan, klien atau pihak lawan yang gagal                       counterparties that fail to discharge their
          memenuhi liabilitas kontraktual mereka. Pada                       contractual obligations. Currently, there are no
          saat ini, tidak terdapat risiko kredit yang                        significant concentrations of credit risk faced by
          signifikan yang dihadapi oleh Grup.                                the Group.

          Terdapat kebijakan Grup untuk memastikan                           The Group have a policy to ensure selling
          penjualan produk kepada pelanggan yang                             products to customers with a good credit
          memiliki sejarah kredit yang baik. Disamping                       history. Besides that, sometimes the Group
          itu, terkadang Grup juga melakukan penjualan                       also sells products by receiving full
          produk dengan menerima pembayaran penuh                            prepayments from customers before delivering
          terlebih dahulu dari pelanggan sebelum                             the goods.
          melakukan pengiriman barang.

          Grup juga menghadapi risiko kredit yang                            The Group also face credit risk arising from the
          berasal dari penempatan dana di bank. Untuk                        placement of funds in banks. To manage this
          mengatasi risiko ini, Grup memiliki kebijakan                      risk, the Group have a policy to put their funds
          untuk menempatkan dananya hanya di bank-                           only in banks with a good reputation.
          bank dengan reputasi yang baik.




                                                              94
Page 98
                                                                  The original consolidated financial statements included herein are in
                                                                                                                 Indonesian language.

PT FAP AGRI Tbk                                                 PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                   FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                   As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)               (Expressed in Rupiah, unless otherwise stated)


34. INSTRUMEN KEUANGAN                                          34. FINANCIAL INSTRUMENTS

    Manajemen Risiko Keuangan (lanjutan)                           Financial Risk Management (continued)

    (ii) Risiko Nilai Tukar Mata Uang Asing                        (ii) Foreign Exchange Risk

        Risiko nilai tukar mata uang asing adalah risiko                 Foreign exchange rate risk is the risk that the
        dimana nilai wajar atau arus kas masa datang                     fair value of future cash flows of a financial
        dari suatu instrumen keuangan akan                               instrument will fluctuate because of changes in
        berfluktuasi akibat perubahan nilai tukar mata                   foreign exchange rates. Significant foreign
        uang asing. Risiko nilai tukar mata uang asing                   exchange rate risk on the Grup is a USD bank
        yang signifikan pada Grup adalah pinjaman                        investment credit loan. Currently, the Group
        kredit investasi bank dalam mata uang USD.                       have no formal policy for hedging foreign
        Saat ini, Grup tidak memiliki kebijakan untuk                    currencies.
        lindung nilai atas risiko nilai tukar mata uang
        asing.

        Pada tanggal 30 Juni 2024, aset dan liabilitas                   As of June 30, 2024, the assets and liabilities
        Grup dalam mata uang asing adalah USD.                           of the Group in foreign currency were in USD.
        Apabila USD menguat/melemah 4% terhadap                          If the USD had strengthened/weakened 4%
        Rupiah dengan asumsi variabel lainnya tidak                      against Rupiah with other variables held
        mengalami             perubahan,       maka                      constant, the gain/loss before tax would have
        laba/rugi sebelum pajak akan naik/turun                          increased/decreased amounting to Rp37.43
        sebesar Rp37,43 miliar (2023: Rp16,29 miliar)                    billion (2023: Rp16.29 billion) due to the
        diakibatkan kerugian/keuntungan selisih kurs                     loss/gain on foreign exchange recorded in profit
        yang dicatat di laba rugi.                                       or loss.


    (iii) Risiko Tingkat Suku Bunga                                (iii) Interest Rate Risk

        Risiko tingkat suku bunga adalah risiko dimana                   Interest rate risk is the risk that the fair value of
        nilai wajar atau arus kas masa datang dari                       future cash flows of a financial instrument will
        suatu instrumen keuangan akan berfluktuasi                       fluctuate because of changes in market interest
        akibat perubahan suku bunga pasar. Risiko                        rates. The Group are exposed to interest rate
        suku bunga Grup terutama timbul dari pinjaman                    risk arising from loans for working capital
        untuk modal kerja dan investasi. Pada saat ini,                  and investment. Currently, the Group have no
        Grup tidak memiliki kebijakan untuk melakukan                    policy to hedge the interest rate risk.
        lindung nilai atas risiko tingkat suku bunga.

        Manajemen         berpendapat        bahwa                       Management believes that the price trend of
        kecenderungan harga komoditas kelapa sawit                       palm oil and its derivative products on the
        dan produk turunannya di pasaran meningkat,                      market is increasing, therefore the Group
        maka Grup berkeyakinan bahwa marjin                              believe that the selling margin is sufficient to
        penjualan cukup untuk menutup risiko tingkat                     cover the interest rate risk.
        suku bunga tersebut.

        Pada tanggal 30 Juni 2024, berdasarkan                           As of June 30, 2024, based on a reasonable
        simulasi yang rasional, jika tingkat suku bunga                  simulation, if the bank loan interest rate had
        utang bank lebih tinggi/rendah 50 basis poin,                    been higher/lower by 50 basis points, with other
        dengan asumsi variabel lainnya tidak                             variables held constant, the loss before tax
        mengalami perubahan, maka laba sebelum                           would have increase/decreased amounting to
        pajak akan naik/turun sebesar Rp15,36 miliar                     Rp15.36 billion (2023: Rp16.29 billion) due to
        (2023:     Rp16,29        miliar)    diakibatkan                 the increase/decrease in interest expense
        naik/turunnya beban bunga yang dicatat di laba                   recorded in profit or loss.
        rugi.




                                                           95
Page 99
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT FAP AGRI Tbk                                                      PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                     AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                        FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                        As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                    (Expressed in Rupiah, unless otherwise stated)



34. INSTRUMEN KEUANGAN (lanjutan)                                    34. FINANCIAL INSTRUMENTS (continued)

    Manajemen Risiko Keuangan (lanjutan)                                 Financial Risk Management (continued)

    (iv) Risiko Likuiditas                                                   (iv)    Liquidity Risk

        Manajemen risiko likuiditas yang hati-hati                                  Prudent liquidity risk management means that
        berarti mempertahankan kas dan bank                                         the Group maintain an adequate level of cash
        memadai untuk mendukung kegiatan bisnis                                     on hand and in banks to support the Group’s
        Grup secara tepat waktu. Grup mengelola risiko                              business activities on a timely basis. The Group
        likuiditas dengan memonitor profil jatuh tempo                              manage the liquidity risk by monitoring the
        sumber pendanaan dan pinjaman. Pada saat                                    maturity date schedules of its funding and loan
        ini, pengeluaran modal Grup yang paling                                     sources. Currently, the Group’s main capital
        dominan       adalah     pembangunan       dan                              expenditures are for the development and
        pemeliharaan perkebunan kelapa sawit.                                       maintenance of oil palm plantations. The
        Sumber pendanaan utama Grup berasal dari                                    Group’s main funding sources are the
        setoran modal para pemegang saham dan                                       stockholders’ capital payments and bank
        fasilitas kredit investasi bank yang diterima                               investment credit facilities gradually given
        secara bertahap sesuai dengan proses                                        following the process of the oil palm plantation
        pembangunan kebun kelapa sawit yang                                         development planned.
        direncanakan.

        Berikut adalah jatuh tempo kontrak liabilitas                               The following are the contractual maturities of
        keuangan pada tanggal 30 Juni 2024 dan 31                                   financial liabilities as of June 30, 2024 and
        Desember 2023:                                                              December 31, 2023:

                                                                30/06/2024

                                  Kurang dari
                                  satu tahun/
                                   Less than        1 - 5 tahun/      Di atas 5 tahun/
                                   one year         1 - 5 years           >5 years               Jumlah/Total

       Tanpa bunga:                                                                                                  Non-interest bearing:
       Utang usaha               295.233.266.481                 -                           -   295.233.266.481          Trade payables
       Utang lain-lain           119.765.480.567    70.894.147.564                           -   190.659.628.131          Other payables
       Beban akrual              122.239.709.599                 -                           -   122.239.709.599       Accrued expenses

       Sub jumlah                537.238.456.647    70.894.147.564                       -       608.132.604.211                  Sub total

       Suku bunga tetap:                                                                                               Fixed interest rate:
       Cerukan bank             793.996.198.233                 -                        -       793.996.198.233           Bank overdraft
       Liabilitas sewa              353.700.000       610.067.774                        -           963.767.774          Leases liabilities

       Sub Jumlah                794.349.898.233       610.067.774                       -       794.959.966.007                  Sub total

       Suku bunga variabel:                                                                                          Variable interest rate:
       Utang bank               650.332.728.659 1.439.251.521.941     188.984.513.722 2.278.568.764.322                          Bank loan

       Sub Jumlah               650.332.728.659 1.439.251.521.941      188.984.513.722 2.278.568.764.322                          Sub total

       Jumlah                  1.981.921.083.539 1.510.755.737.279     188.984.513.722 3.681.661.334.540                              Total




                                                           96
Page 100
                                                                           The original consolidated financial statements included herein are in
                                                                                                                          Indonesian language.

PT FAP AGRI Tbk                                                         PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                        AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                           FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                           As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                       (Expressed in Rupiah, unless otherwise stated)



34. INSTRUMEN KEUANGAN (lanjutan)                                       34. FINANCIAL INSTRUMENTS (continued)

    Manajemen Risiko Keuangan (lanjutan)                                    Financial Risk Management (continued)

    (iv) Risiko Likuiditas (lanjutan)                                       (iv) Liquidity Risk (continued)

                                                                   31/12/2023
                                     Kurang dari
                                     satu tahun/
                                      Less than        1 - 5 tahun/      Diatas 5 tahun/
                                      one year         1 - 5 years       Above 5 years         Jumlah/Total
         Tanpa bunga                                                                                                   Non-interest bearing
         Utang usaha                357.216.548.019    6.307.946.466                       -   363.524.494.485               Trade payables
         Utang lain-lain            186.513.038.316   30.727.905.308                       -   217.240.943.624               Other payables
         Beban akrual               125.321.051.131                -                       -   125.321.051.131           Accrued expenses
         Sub jumlah                 669.050.637.466   37.035.851.774                       -   706.086.489.240                       Sub total
         Suku bunga tetap                                                                                                 Fixed interest rate
         Cerukan bank               724.815.246.998                -                       -   724.815.246.998                Bank overdraft
         Liabilitas sewa                353.700.000      842.382.000                       -     1.196.082.000               Leases liabilities
         Sub jumlah                 725.168.946.998      842.382.000                       -   726.011.328.998                       Sub total
         Suku bunga variabel                                                                                           Variable interest rate
         Utang bank                 705.892.065.280 1.483.943.957.032    344.426.893.953 2.534.262.916.265                         Bank loan
         Sub jumlah                 705.892.065.280 1.483.943.957.032    344.426.893.953 2.534.262.916.265                           Sub total
         Jumlah                   2.100.111.649.744 1.521.822.190.806    344.426.893.953 3.966.360.734.503                               Total



   (v)    Risiko Harga                                                          (v) Price Risk

          Risiko harga adalah risiko fluktuasi nilai                                Price risk is the risk of financial instrument value
          instrumen keuangan akibat perubahan harga                                 fluctuations due to changes in market prices.
          pasar. Saat ini, Grup tidak menghadapi risiko                             Currently, the Group did not encounter any
          harga.                                                                    price risk.

    Nilai Wajar Aset dan Liabilitas Keuangan                                The Fair Values of Financial Assets and
                                                                            Liabilities
    Nilai wajar didefinisikan sebagai harga yang akan                       Fair value is the price that would be received to sell
    diterima untuk menjual suatu aset atau harga yang                       an asset or paid to transfer a liability in an orderly
    akan dibayar untuk mengalihkan suatu liabilitas                         transaction between market participants at the
    dalam transaksi teratur antara pelaku pasar pada                        measurement date.
    tanggal pengukuran.
    Aset keuangan dan liabilitas keuangan yang diukur                       Financial assets and financial liabilities measured at
    pada nilai wajar dalam laporan posisi keuangan                          fair value in the consolidated statement of financial
    konsolidasian dikelompokkan ke dalam tiga tingkat                       position are grouped into three levels of a fair value
    hirarki nilai wajar. Tiga tingkat hirarki didefinisikan                 hierarchy. The three levels are defined based on the
    berdasarkan pengamatan input signifikan untuk                           observability of significant inputs to the
    pengukuran, sebagai berikut:                                            measurement, as follows:
    •     Level 1: harga kuotasi (tidak disesuaikan) di                         •   Level 1: quoted prices (unadjusted) in active
          pasar aktif untuk asset atau liabilitas yang                              markets for identical assets or liabilities
          identik
    •     Level 2: input selain harga kuotasian yang                            •   Level 2: input other than quoted prices included
          termasuk dalam Tingkat 1 yang dapat                                       within Level 1 that are observable for the asset
          diobservasi untuk aset atau liabilitas, baik                              or liability, either directly or indirectly
          secara langsung maupun tidak langsung
    •     Level 3: input yang tidak dapat diobservasi                           •   Level 3: unobservable inputs for the asset or
          untuk aset atau liabilitas                                                liability




                                                              97
Page 101
                                                                                               The original consolidated financial statements included herein are in
                                                                                                                                              Indonesian language.

PT FAP AGRI Tbk                                                                            PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                           AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                              As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah, unless otherwise stated)



34. INSTRUMEN KEUANGAN (lanjutan)                                                          34. FINANCIAL INSTRUMENTS (continued)

    Manajemen permodalan                                                                         Capital manajement

    Tujuan Grup dalam pengelolaan permodalan adalah                                              The Group’s objectives when managing capital are
    untuk mempertahankan kelangsungan usaha Grup                                                 to safeguard the Group’s ability to continue as a
    guna memberikan imbal hasil kepada pemegang                                                  going concern in order to provide returns for
    saham dan manfaat kepada pemangku kepentingan                                                shareholders and benefits for other stakeholders
    lainnya serta menjaga struktur modal yang optimal                                            and to maintain an optimal capital structure to
    untuk mengurangi biaya modal.                                                                reduce the cost of capital.

    Untuk mempertahankan atau menyesuaikan                                                       In order to maintain or adjust the capital structure,
    struktur modal, Grup menyesuaikan jumlah dividen                                             the Group may adjust the amount of dividends paid
    yang     dibayar   kepada  pemegang      saham,                                              to shareholders, return capital to shareholders,
    mengembalikan modal kepada pemegang saham,                                                   issue new shares or sell assets to reduce debt.
    menerbitkan saham baru atau menjual aset untuk
    mengurangi jumlah utang.

    Grup memonitor modal berdasarkan rasio gearing                                               The Group monitors capital on the basis of the
    konsolidasian. Rasio gearing dihitung dengan                                                 Group’s consolidated gearing ratio. The gearing
    membagi pinjaman bersih dengan kekayaan                                                      ratio is calculated as net borrowings divided by
    berwujud bersih                                                                              capital employed.

    Rasio gearing konsolidasian pada tanggal 30 Juni                                             The consolidated gearing ratio as at June 30, 2024
    2024 dan 31 Desember 2023 adalah sebagai                                                     and December 31, 2023 are as follow:
    berikut:

                                                               30/06/2024                  31/12/2023
   Jumlah pinjaman                                     3.343.876.420.435 3.259.078.163.263                                                        Total borrowing
   Kas dan setara kas                                   (412.237.952.266) (475.802.009.410)                                             Cash and cash equivalents
   Pinjaman bersih                                     2.931.638.468.169                2.783.276.153.853                                            Net borrowing
   Total ekuitas                                      (4.010.337.925.489) (4.063.648.978.866)                                                           Total equity
   Rasio gearing konsolidasian (%)                                           73%                        68%                        Consolidated gearing ratio (%)


    Manajemen Risiko Keuangan                                                                    Financial Risk Management

    Nilai wajar aset dan liabilitas keuangan, bersama-                                           The fair values of financial assets and liabilities,
    sama dengan nilai tercatat, adalah sebagai berikut:                                          together with the carrying amounts, are as follows:
                                                     30 Juni/June 30,                        31 Desember/December 31,
                                                               2024                                         2023

                                             Nilai tercatat/           Nilai wajar/       Nilai tercatat/           Nilai wajar/
                                             Carrying value            Fair value*        Carrying value            Fair value*

  Aset keuangan                                                                                                                                       Financial assets
  Kas dan bank                              494.940.343.000           494.940.343.000      507.768.260.273         507.768.260.273            Cash on hand and in banks
  Piutang usaha                             110.557.994.086           110.557.994.086      142.956.152.799         142.956.152.799                     Trade receivables
  Piutang lain-lain                          12.154.658.004            12.154.658.004        8.639.534.500           8.639.534.500                     Other receivables
  Aset tidak lancar lain-lain                 2.283.640.628             2.283.640.628        2.316.474.735           2.316.474.735              Other non-current assets

  Jumlah                                   619.936.635.718        619.936.635.718        661.680.422.307       661.680.422.307                                      Total

  Liabilitas keuangan                                                                                                                                  Financial assets
  Utang usaha                                306.806.418.039       306.806.418.039         368.619.919.568       368.619.919.568                         Trade payables
  Utang lain-lain                            190.659.628.131       190.659.628.131         184.442.016.420       184.442.016.420                         Other payables
  Beban akrual                               122.239.709.599       122.239.709.599         108.323.044.126       108.323.044.126                      Accrued expenses
  Cerukan bank                               793.996.198.233       793.996.198.233                       -                     -                          Bank overdraft
  Utang bank                               2.278.568.764.322     2.278.568.764.322       3.080.453.825.131     3.080.453.825.131                              Bank loan
  Liabilitas sewa                                963.767.774           963.767.774           1.316.511.764         1.316.511.764                         Lease liabilities

  Jumlah                                   3.693.234.486.098      3.693.234.486.098      3.743.155.317.009     3.743.155.317.009                                    Total




    *) Diukur dengan hirarki pengukuran nilai wajar Tingkat 3, kecuali kas                       *) Measured by fair value measurement hierarchy Level 3, except for
       dan setara kas diukur dengan hirarki pengukuran nilai wajar                                  cash and cash equivalents measured by fair value measurement
       Tingkat 1.                                                                                   hierarchy Level 1.

                                                                                 98
Page 102
                                                                                           The original consolidated financial statements included herein are in
                                                                                                                                          Indonesian language.

PT FAP AGRI Tbk                                                                       PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                                      AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                                         As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                     (Expressed in Rupiah, unless otherwise stated)



35. AKTIVITAS INVESTASI NON KAS                                                       35. NON CASH INVESTING ACTIVITIES

                                                            30/06/2024                30/06/2023

  Penambahan proyek perkebunan                                                                                      Additions of partnership plantations
    kemitraan melalui kapitalisasi:                                                                                      projects through capitalized:
                                                                                                                      Depreciation of property, plant
     Beban umum kebun                                                        -         1.041.604.210                  Plantation general expenses
                                                                                                                       Depreciation of property, plant
     Penyusutan aset tetap                                  1.062.986.017              1.028.891.162                                   and equipment

  Penambahan tanaman belum                                                                                          Additions of immature plantation
    menghasilkan melalui kapitalisasi:                                                                                             through capitalized:
    Beban umum kebun                                        3.260.018.900              3.731.509.571                     Plantation general expenses
    Beban keuangan                                          5.094.767.720              4.045.848.116                                    Finance costs
                                                                                                                     Depreciation of property, plant
     Penyusutan aset tetap                                  5.013.734.275              3.034.893.833                                    and equipment
     Cadangan imbalan kerja                                   371.341.951                463.037.261                   Provision fro employee benefit

                                                                                                      Additions of property, pland and equipment
  Penambahan aset tetap melalui                                                                              through net transfer of advances for
    mutasi bersih uang muka                                                                                           purchase of property, plant
    pembelian aset tetap                                   20.763.160.607                  22.557.702                             and equipment



36. REKONSILIASI LIABILITAS YANG TIMBUL DARI                                          36. RECONCILIATION OF LIABILITIES                                ARISING
    AKTIVITAS PENDANAAN                                                                   FROM FINANCING ACTIVITIES

                                                                           Utang
                                                                          dividen/
                                  Utang bank/       Liabilitas sewa/     Dividends             Jumlah/
                                   Bank loan        Lease liabilities     payable               Total

   Saldo per 01 Januari 2023    3.080.453.825.131      1.316.511.764                   -   3.081.770.336.895               Balance as of January 01, 2023

   Arus kas                                                                                                                                        Cash flow
     Pembayaran                 (732.723.848.159)       (481.005.763)                  -   (733.204.853.922)                                    Payments
     Perolehan                   159.816.178.443                   -                   -    159.816.178.443                                     Proceeds

   Non kas                                                                                                                                         Non cash
     Mutasi lainya                26.716.760.850                   -                   -     26.716.760.850                                Other mutation
     Penambahan                                -         360.575.999                   -        360.575.999                                     Additions

   Saldo per 31 Desember 2023   2.534.262.916.265      1.196.082.000                   -   2.535.458.998.265               Balance as of December 31, 2023

   Arus kas                                                                                                                                    Cash flow
     Pembayaran                 (445.288.274.931)     (232.314.226)      (5.068.000.000)   (450.588.589.157)                                   Payments
     Perolehan                     51.338.821.557                 -                    -     51.338.821.557                                    Proceeds

  Non kas                                                                                                                                       Non cash
     Mutasi lainnya                             -                    -                -                    -                                     Sub total
     Penambahan                  138.255.301.431                     -   20.668.000.000     158.923.301.431                                Other mutation

   Saldo per 30 Juni 2024       2.278.568.764.322      963.767.774       15.600.000.000    2.295.132.532.096                 Balance as of June 30, 2024




                                                                            99
Page 103
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT FAP AGRI Tbk                                                     PT FAP AGRI Tbk
DAN ENTITAS ANAK                                                    AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                       FINANCIAL STATEMENTS
Tanggal 30 Juni 2024 dan 2023                                       As of June 30, 2024 and 2023
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                   (Expressed in Rupiah, unless otherwise stated)



37. PERJANJIAN DAN KOMITMEN PENTING                                 37. SIGNIFICANT                 COMMITMENTS                     AND
                                                                        AGREEMENTS

    Pengembangan Perkebunan Plasma                                     Plasma Plantation Development

    Sesuai dengan Undang-undang No. 39 pasal 58                        In accordance with Law No. 39 article 58 concerning
    tentang perkebunan mewajibkan perusahaan                           plantation requires plantation companies to develop
    perkebunan untuk membangun area perkebunan                         public core plantation area for at least 20% of the
    inti rakyat sekitar paling rendah seluas 20% dari total            total plantation area owned by the Group. Related to
    luar areal kebun yang dimiliki Grup. Sehubungan                    the regulation, the Group is referred as the “Core
    dengan peraturan tersebut, Grup disebut sebagai                    Company”, having commitments with several
    “Perusahaan Inti”, memiliki komitmen dengan                        cooperatives whom accommodate plasma farmers
    beberapa koperasi yang mewadahi petani plasma                      to develop plasma plantations.
    untuk mengembangkan perkebunan plasma.

    Pembiayaan atas pengembangan perkebunan                            The financing for the development of plasma
    plasma ini diperoleh melalui pinjaman dari bank                    plantations is obtained through loans from banks
    maupun pembiayaan langsung oleh Perusahaan                         and direct financing by the core Company. The core
    Inti. Perusahaan Inti memberikan jaminan                           Companies provide corporate guarantee for the
    perusahaan untuk pelunasan pinjaman atas                           repayment of loans obtained from the bank.
    pembiayaan yang diperoleh dari bank.

    Pada saat perkebunan plasma telah menghasilkan,                    Once the plasma plantation has been produced, the
    petani plasma berkewajiban untuk menjual seluruh                   plasma farmer is obligated to sell all of the plantation
    hasil perkebunan tersebut kepada Perusahaan Inti,                  proceeds to the core Company, and repay the
    dan melunasi angsuran atas fasilitas pinjaman                      installment of the investment loan facility provided by
    investasi yang diberikan oleh bank atau Perusahaan                 the bank or the core Company according to the
    Inti        sesuai        skema         pembiayaan                 scheme of financing each project using funds
    tiap- tiap proyek dengan menggunakan dana yang                     deducted from the sale of the estate plasma.
    dipotong dari penjualan hasil perkebunan plasma
    tersebut.

    Pada tanggal 30 Juni 2024, pengembangan plasma                     As of June 30, 2024, plasma development by the
    oleh Grup telah mencapai penanaman seluas                          Group has reached planting area of 10,386.22 Ha,
    10.386,22 Ha dengan area yang telah dikonversi                     with converted area of 10,111.22 Ha.
    seluas 10.111,22 Ha.




                                                              100

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unresolved org Koperasi Ding Bayau Koperasi Tikung Sejahtera p.60
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unresolved org Koperasi Hinaq Harin Koperasi Datai Lino p.60
unresolved org Koperasi Datai Lino Koperasi Pekat Umaaq p.60
unresolved org Koperasi Pekat Umaaq Koperasi Mukti Utama p.60
unresolved org Koperasi Mukti Utama p.60 ×2
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unresolved org PT Bank Central p.62
unresolved org Asia Tbk p.62
unresolved org Direktorat Jenderal Pajak p.66
unresolved org PT Bumi Berkat Lestari Raya p.68 ×2
unresolved org PT Samudra Putra Trans Abadi p.68 ×2
unresolved org PT Meroke Tetap Jaya p.68 ×2
unresolved org PT Indotrans Sejahtera p.68 ×2
unresolved org PT Gokomodo Uniti Indonesia p.68 ×2
unresolved org PT Beruang Maritim Indonesia p.68 ×2
unresolved org PT Prabu Pendawa Motor p.68
unresolved org PT Prabu Pendawa Motor CV Surya Sumatera Sejati p.68
unresolved org PT Sasco Indonesia p.68 ×2
unresolved org PT Mujur Karya Sentosa p.68 ×2
unresolved org PT Pilar Utama Labuan CV Gunung Mas Abadi p.68
unresolved org PT Dwitama Sembada p.68
unresolved org PT Dwitama Sembada CV Indoniaga Perkasa p.68
unresolved org PT Duta Sukses Perkasa p.68 ×2
unresolved org PT Mandau Berlian Sejati p.68 ×2
unresolved org PT Boilermech p.68 ×2
unresolved org PT Goautama Sinarbatuah p.68
unresolved org PT Goautama Sinarbatuah Lain p.68
unresolved org PT Saainti Kreasi Tehnik p.68 ×4
unresolved org PT Karya Murni Prima p.68 ×4
unresolved org PT Karya Agung Bangun Konstruksi p.68 ×4
unresolved org PT Kreatif Jaya Mandiri p.68 ×4
unresolved org PT Sinar Mitra Jaya CV Inti Jaya p.68 ×2
unresolved org PT Andal Tunas Mandiri p.68 ×2
unresolved org PT Jes Mandiri Sukses p.68 ×4
unresolved org PT Asta Rekayasa Unggul p.68 ×2
unresolved org PT Asta Rekayasa Unggul Lain p.68 ×2
unresolved org PT Andal Tunas p.69 ×2

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