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Page 1
            TETAP FOKUS UNTUK MERANGKUL MASA DEPAN




2025         LAPORAN TAHUNAN
             ANNUAL REPORT

PT Duta Pertiwi Tbk
Page 2
    Pendahuluan
    Introduction




Kinerja Utama 2025
2025 Key Performance
[ACGS C.2.2]




KINERJA KEUANGAN
Financial Performance
                                                                  Dalam miliar Rupiah, kecuali dinyatakan lain
                                                                        In billion IDR, unless stated otherwise



    Jumlah Aset                                       Pendapatan Usaha
    Total Assets                                      Revenues

         15.131            14.362            16.146       3.862               4.423              2.733




                  -5,08%
                                    12,42%                          14,51%
                                                                                      -38,20%




        2023               2023              2025         2023                2024              2025




    Jumlah Ekuitas                                    Jumlah Liabilitas
    Total Equity                                      Total Liabilities

         11.461            11.868            13.683       3.671               2.495              2.463




                                    15,30%                         -32,04%
                                                                                      -1,28%

                  3,55%




        2023               2024              2025         2023                2024              2025




2        LAPORAN TAHUNAN 2025
Page 3
                                                                                   PT Duta Pertiwi Tbk




Laba Bersih                                     Laba per Saham Dasar (dalam Rp penuh)
Net Income                                      Basic Earnings per Share (in full IDR)

    1.066             852                422       576,44             460,42             228,14




            -20,13%                                         -20,13%



                              -50,45%                                          -50,45%




   2023               2024              2025        2023              2024               2025




Kas dan Setara Kas                              Tanah yang Belum Dikembangkan
Cash and Cash Equivalents                       Land for Development

    2.876             2.525             3.533       4.557             4.644              4.810




                              39,92%                        1,92%              3,56%

            -12,18%




   2023               2024              2025        2023              2024               2025




                                                Prapenjualan
                                                Marketing Sales

                                                    1.679             2.488              1.759


                                                                               -29,30%
                                                            48,18%
   KINERJA PRAPENJUALAN
   Marketing Sales Performance
   [ACGS C.2.3]




                                                    2023              2024               2025



                                                                      2025 ANNUAL REPORT            3
Page 4
    Pendahuluan
    Introduction




                                                                       TETAP FOKUS UNTUK
                                                                   MERANGKUL MASA DEPAN




                                                                         2025

Perusahaan telah menunjukkan dinamika            The Company has shown remarkable growth,
pertumbuhan yang menarik berkat upaya-           driven by its ongoing commitment to embrace
upaya yang konsisten untuk menata masa depan     the future that benefits our stakeholders. Now,
yang membawa kemajuan bagi para pemangku         the Company stands at a pivotal moment
kepentingan kami. Kini, Perusahaan berada di     that requires a focused approach towards
persimpangan penting yang menuntutnya untuk      opportunities that will enable it to embrace a
tetap fokus pada kesempatan-kesempatan           brighter future.
yang memungkinkannya merangkul masa
depan yang lebih baik.

Tahun ini, kami telah melakukan grand opening    This year, we proudly celebrated the grand
pada DP Mall Expansion di Semarang, yang         opening of the DP Mall Expansion in Semarang,
menjadi tempat berkumpul yang sulit dilewatkan   which has become a beloved gathering spot
oleh masyarakat Jawa Tengah. Kami juga           for the residents of Central Java. We are also
terus mengembangkan lokasi-lokasi strategis      committed to developing our strategic locations,
kami seperti Grand Wisata, Kota Wisata dan       including Grand Wisata, Kota Wisata and our
apartemen-apartemen kami di Jabodetabek          apartments in Greater Jakarta and Surabaya,
dan Surabaya, yang menjadi motor penggerak       which have been driving the Company’s
performa Perusahaan yang memuaskan.              outstanding performance.

Dipandu oleh strategi bisnis yang dirancang      Guided by a carefully designed business
secara teliti didasarkan oleh analisis pasar     strategy based on advanced market analysis,
yang mutakhir, kami siap memposisikan diri       we are well-equipped to address the diverse
untuk menghadapi berbagai tantangan di           challenges within the property industry. We are
dalam industri properti. Kami siap menjadi       ready to thrive in a competitive market while
pemenang dalam pasar yang kompetitif             ensuring customer satisfaction through the
dan menghantarkan kepuasan kepada para           utmost professionalism.
pelanggan dengan profesionalisme yang tinggi.



4       LAPORAN TAHUNAN 2025
Page 5
                                                                                      PT Duta Pertiwi Tbk




   MENATA MASA DEPAN                                     MENUJU KEMAJUAN
   Staging the Future                                    Towards Progress




Tahun 2024, Perusahaan makin jelas menatap            Perusahaan       terus    melangkah       maju,
masa depan dengan melakukan ekspansi                  mengembangkan kapabilitas dan kapasitas
proyek yang sedang berjalan dan peluncuran            dengan lebih cepat dan mencatat kinerja
beberapa proyek baru. Masa depan ini berawal          yang lebih baik ke depannya. Merefleksikan
dari perencanaan yang teliti dan dijalankan           pengalaman ke belakang, kami meyakini
penuh komitmen baik dari sisi produk dan jasa,        bahwa perjalanan yang berkelanjutan untuk
pasar, sinergi dan kolaborasi, serta dampak           menjadi lebih baik tak mungkin dilalui sendirian.
bagi sekitarnya. Ke depannya, kami akan terus         Sinergi, kolaborasi dan semangat kebersamaan
mengupayakan masa depan berkelanjutan                 yang dipenuhi dengan integritas, akan menjadi
bagi semua orang tanpa terkecuali dan kami            keunggulan bagi kami dalam melangkah maju.
mengajak seluruh pemangku kepentingan untuk
bersama-sama menata masa depan tersebut.

In 2024, the Company is clearly looking forward       The Company keeps moving toward progress,
to the future by expanding ongoing projects           enhancing its capabilities and capacities
and launching various new products. This              at a faster pace while aiming for even
vision begins with careful planning and is            better performance in the future. Reflecting
carried out with full commitment, focusing on         on our experience, we realize that striving
products and services, markets, synergies and         for sustainability can’t be achieved alone.
collaborations, as well as our impact on the          Embracing synergy, collaboration and a spirit of
surrounding environment. Moving forward, we           togetherness filled with integrity will serve as an
remain dedicated to striving for a sustainable        advantage as we move forward.
future for all, without exception and we invite all
stakeholders to collaborate with us in staging
that future.




                                                                            2024
                                                                            2025 ANNUAL REPORT         5
Page 6
     Pendahuluan
     Introduction




Daftar Isi                                      36
                                     Profil Perusahaan
                                                                           86    Informasi Pencatatan
                                                                                 Efek Lainnya
Table of Contents                        Company Profile
                                                                                 Information on Other
                                                                                 Securities Listing
                                                                            87   Akuntan Publik
                                                                                 Public Accountant
          Pendahuluan               38   Informasi Perusahaan
                                         Company Information               88    Lembaga dan/atau
             Introduction                                                        Profesi Penunjang Pasar
                                    39   Riwayat Singkat                         Modal selain AP dan KAP
                                         Perusahaan                              Capital Market Supporting
                                         Brief History of the                    Institutions and/or
    2     Kinerja Utama 2025             Company                                 Professions other than
          2025 Key Performance
                                                                                 AP and KAP
                                    40   Tentang Perusahaan
    4     Tetap Fokus untuk              About the Company                 90    Jejak Langkah
          Merangkul Masa Depan                                                   Milestones
          Remaining Focus to        41   Visi, Misi dan Nilai-nilai
          Embrace the Future             Kami                              94    Peristiwa Penting
                                         Our Vision, Mission and Values          Event Highlights
    5     Kesinambungan Tema
          Theme Continuity          43   Bisnis Kami
                                         Our Business                      98    Penghargaan
                                                                                 Awards
    6     Daftar Isi
          Table of Contents         43      Kegiatan Usaha
                                            Business Activities
    8     Tentang Laporan
          About the Report          44      Wilayah Operasional

    9     Glosarium
                                    45
                                            Operational Area

                                            Produk-produk
                                                                                      100
          Glossary
                                            Perusahaan
                                            Company Products              Analisis dan Pembahasan
                                    55   Struktur Organisasi                     Manajemen
                 10                 56
                                         Organizational Structure

                                         Keanggotaan Asosiasi
                                                                            Management Discussion
                                         Association Membership
                                                                                and Analysis
    Ikhtisar Kinerja 2025
2025 Performance Highlights         57   Profil Direksi
                                         Profile of the Directors          102   Analisis Operasi
                                                                                 Per Segmen Usaha
                                    62   Profil Dewan Komisaris                  Operational Analysis
    12    Ikhtisar Keuangan              Profile of the Board
          Financial Highlights                                                   of Business Segments
                                         of Commissioners
    14    Ikhtisar Saham            69   Sumber Daya Manusia               112   Analisis Keuangan
          Stock Highlights               Human Capital                           Financial Analysis

                                    76   Informasi Pemegang                130   Kemampuan
                                         Saham                                   Membayar Utang dan
                                         Information of the                      Kolektabilitas Piutang

                 16                 80
                                         Shareholders

                                         Struktur Usaha
                                                                                 Solvability and Receivables
                                                                                 Collectability

                                         Kelompok Perusahaan
                                                                           130   Struktur Modal
         Laporan Kepada                  Company’s Business
                                         Group Structure
                                                                                 Capital Structure
            Pemangku                81   Daftar Entitas Anak,              131   Ikatan Material dan
           Kepentingan                   Entitas Asosiasi dan/                   Realisasi Investasi
                                         atau Ventura Bersama                    Barang Modal
     Report to Stakeholders              List of the Subsidiaries,               Material Commitments
                                         the Associates and/or                   and Actual Investment
                                         the Joint Ventures                      Capital Goods
    18    Laporan Direksi           84   Daftar Alamat
          Report of the Directors        Perusahaan dan Entitas            131   Informasi dan Fakta
                                         Anak                                    Material Setelah
                                         Addresses of the Company                Tanggal Laporan
    28    Laporan Dewan                                                          Akuntan
          Komisaris                      and Subsidiaries
                                                                                 Material Information and
          Report of the Board
          of Commissioners
                                    86   Informasi Pencatatan                    Facts Subsequent to the
                                         Saham                                   Accountant’s Report Date
                                         Information on Stock Listing




6          LAPORAN TAHUNAN 2025
Page 7
                                                                                       PT Duta Pertiwi Tbk




132   Prospek Usaha
      Perusahaan
                                     170   Nominasi dan
                                           Remunerasi Direksi dan                   218
      Business Prospects                   Dewan Komisaris
      of the Company                       Nomination and
                                           Remuneration of the
                                                                          Tanggung Jawab
132   Perbandingan Target
      dan Realisasi Tahun
                                           Directors and the Board of        Sosial dan
                                           Commissioners
      2025
      2025 Comparison of Target
                                                                            Lingkungan
                                     173   Komite Audit
      and Realization                      Audit Committee                Social and Environment
133   Proyeksi 2026                                                            Responsibility
                                     181   Komite Nominasi
      2026 Projections                     dan Remunerasi
                                           Nomination and
133   Promosi dan                          Remuneration Committee        221   Surat Pernyataan
      Pemasaran                                                                Anggota Dewan
      Promotion and Marketing                                                  Komisaris dan Direksi
                                     185   Komite Lain dan Dewan               tentang Tanggung
135   Dividen                              Pengawas Syariah                    Jawab atas Laporan
      Dividend                             Other Committee and                 Tahunan Tahun Buku
                                           Sharia Supervisory Board            2025
135   Realisasi Dana Hasil                                                     PT Duta Pertiwi Tbk
      Penawaran Umum                 185   Sekretaris Perusahaan               The Board of
      Utilization of Public                Corporate Secretary                 Commissioners’ and
      Offering Proceeds                                                        Directors’ Statement of
                                     189   Unit Audit Internal                 Responsibilities for the
136   Informasi Material                   Internal Audit Unit
                                                                               2025 Annual Report of
      Material Information                                                     PT Duta Pertiwi Tbk
                                     195   Sistem Pengendalian
                                           Internal
138   Perubahan Peraturan                  Internal Control System
      Perundang-undangan

                                                                                    222
      Changes in Legislations        196   Sistem Manajemen
                                           Risiko
138   Perubahan Kebijakan                  Risk Management System
      Akuntansi dan
      Pelaporan Keuangan             200   Perkara Hukum Penting                 Lampiran
      Changes in Accounting and
      Financial Reporting Policies
                                           Substantial Legal Cases                 Appendix

                                     201   Informasi tentang
                                           Sanksi Administratif          224   Referensi Surat
                                           Information about                   Edaran OJK No.30/
                                           Administrative Sanctions            SEOJK.04/2016

           140
                                                                               Reference of OJK Circular
                                     202   Pedoman Etika                       Letter No.30/SEOJK.04/2016
                                           Berperilaku                   233   Referensi ASEAN
      Governansi                           Code of Conduct                     Corporate Governance
                                                                               Scorecard
      Perusahaan                     205   Kebijakan Pemberian                 Reference to ASEAN
                                           Kompensasi Jangka                   Corporate Governance
 Corporate Governance                      Panjang                             Scorecard
                                           Long-Term Benefit Policy
                                                                         244   Laporan Keuangan
                                     205   Kebijakan                           Financial Statements
142   Landasan dan Prinsip                 Pengungkapan
      Governansi Perusahaan                Informasi
      Foundation and Principles            Disclosure Requirements
      of Corporate Governance              Policy

143   Struktur Pedoman               208   Sistem Pelaporan
      Governansi Perusahaan                Pelanggaran (WBS)
      Corporate Governance                 Whistleblowing System (WBS)
      Structure
                                     211   Kebijakan Anti Korupsi
144   Rapat Umum Pemegang                  Anti-Corruption Policy
      Saham (RUPS)
      General Meeting                212   Penerapan atas
      of Shareholders (GMS)                Pedoman Tata Kelola
                                           Perusahaan
154   Direksi                              Implementation of                    Pindai di sini untuk mengakses
      Directors                            Corporate Governance            Laporan Tahunan 2025 secara daring
                                           Guidelines                                Scan here to online access
161   Dewan Komisaris                                                                      of Annual Report 2025
      Board of Commissioners




                                                                          2025 ANNUAL REPORT                 7
Page 8
    Pendahuluan
    Introduction




Tentang Laporan
About the Report


Kesesuaian Kerangka Pelaporan
Alignment to the Reporting Framework

Laporan    ini  mengacu       ke   SEOJK    No.16/   This report refers to SEOJK No.16/SEOJK.04/2021
SEOJK.04/2021 tentang Bentuk dan Isi Laporan         concerning the Form and Content of Annual
Tahunan Emiten atau Perusahaan Publik, ASEAN         Reports of Issuers or Publicly Listed Companies, the
Corporate Governance Scorecard (ACGS), serta         ASEAN Corporate Governance Scorecard (ACGS),
Pedoman Umum Governansi Korporat Indonesia           and 2021 General Guidelines on Indonesian
(PUG-KI). Referensi akan hal ini dapat ditemukan     Corporate Governance (PUG-KI). References to
pada bagian-bagian yang relevan serta indeks         this can be found in the relevant sections as well
referensi.                                           as the reference index.



Sanggahan dan Batasan Tanggung Jawab
Disclaimer and Limitation of Liabilities

Laporan Tahunan ini mencakup pernyataan-             This Annual Report includes “forward-looking”
pernyataan “pandangan ke depan” (forward             statements, including results from the Company’s
looking), termasuk hasil dari kondisi keuangan,      financial condition, operations, projections, plans,
operasi, proyeksi, rencana, strategi, kebijakan      strategies, policies and Company objectives.
dan tujuan Perusahaan. Pernyataan “pandangan         These ‘forward-looking” statements are subject
ke depan” ini memiliki risiko yang terbaca dan       to known and unknown risks, uncertainties,
tidak terbaca, ketidakpastian, perubahan kondisi     changes in national or regional economic and
ekonomi dan politik nasional atau regional,          political conditions, changes in the prices and
perubahan harga, perubahan penawaran dan             supply and demand in the market, changes in
permintaan di pasar, perubahan nilai tukar mata      foreign exchange rates, changes in legislation or
uang asing, perubahan peraturan perundang-           regulations and accounting principles, policies
undangan atau peraturan dan prinsip, kebijakan       and guidelines, changes in the assumptions used
dan pedoman akuntansi, perubahan asumsi              in making such “forward-looking” statements and
yang digunakan dalam membuat pernyataan              other factors that could cause actual results to
“pandangan ke depan” dan faktor lain yang dapat      differ from expected results.
menyebabkan hasil aktual berbeda dari hasil
yang diharapkan.

Selanjutnya Laporan Tahunan ini menyebut             This Annual Report contains the word
“Perusahaan”     untuk    mengacu     kepada         “Company,        hereinafter      referred to
PT Duta Pertiwi Tbk, sebagai Perusahaan yang         PT Duta Pertiwi Tbk, as the Company that runs
menjalankan bisnis di bidang real estat. Kata        business in real estate. The word “we” is at
“kami” kadang-kadang digunakan dengan cara           times used in a comparable manner to simply
yang sama untuk mengacu kepada PT Duta               refer to PT Duta Pertiwi Tbk. in general.
Pertiwi Tbk.

Laporan Tahunan ini dibuat dalam Bahasa              This Annual Report is made in Indonesian and
Indonesia dan Bahasa Inggris, yang mana              English, which the translation of Indonesian into
terjemahan teks Bahasa Indonesia ke dalam            English is an unofficial translation. In the event of a
Bahasa Inggris merupakan unofficial translation.     discrepancy between the English and Indonesian
Dalam hal terdapat ketidaksesuaian antara teks       texts, readers of the Annual Report may refer to
Bahasa Inggris dan Bahasa Indonesia, mohon           the Indonesian texts.
pembaca Laporan Tahunan ini dapat mengacu
ke teks Bahasa Indonesia.


8       LAPORAN TAHUNAN 2025
Page 9
                                                                                                      PT Duta Pertiwi Tbk




Glosarium
Glossary


 SINGKATAN      BAHASA INDONESIA                                       BAHASA INGGRIS
 ABBREVIATION   INDONESIAN                                             ENGLISH
                ASEAN Corporate Governance Scorecard, revisi Oktober   ASEAN Corporate Governance Scorecard, revised
 ACGS
                2023, versi 2 Maret 2024                               October 2023, version March 2nd, 2024
 AD
                Anggaran Dasar                                         Articles of Association
 AoA
 AGMS           Rapat Umum Pemegang Saham Tahunan                      Annual General Meeting of Shareholders
 AP             Akuntan Publik                                         Public Accountant
 BAE            Biro Administrasi Efek PT Sinartama Gunita             PT Sinartama Gunita Share Registrar
 BEI            Bursa Efek Indonesia                                   Indonesia Stock Exchange
 BI             Bank Indonesia                                         Central Bank of Indonesia
 BOC            Dewan Komisaris                                        The Board of Commissioners
 Company        PT Duta Pertiwi Tbk
 DPS            Daftar Pemegang Saham                                  List of Shareholders
 DUTI           Kode Saham untuk PT Duta Pertiwi Tbk                   Stock Code for PT Duta Pertiwi Tbk
 EGMS           Rapat Umum Pemegang Saham Luar Biasa                   Extraordinary General Meeting of Shareholders
 ERM            Manajemen Risiko Perusahaan                            Enterprise Risk Management
 ESG            Lingkungan, Sosial dan Tata Kelola                     Environment, Social and Governance
 GMS            Rapat Umum Pemegang Saham                              General Meeting of Shareholders
 IDR            Rupiah                                                 Indonesian Rupiah
 ITC            International Trade Center                             International Trade Center
 KAP            Kantor Akuntan Publik                                  Public Accounting Firm
 KPA            Kredit Pemilikan Apartemen                             Apartment Ownership Loan
 KPR            Kredit Pemilikan Rumah                                 Home Ownership Loan
 NRC            Komite Nominasi dan Remunerasi                         Nomination and Remuneration Committee
 OJK            Otoritas Jasa Keuangan                                 Financial Services Authority
 Perusahaan     PT Duta Pertiwi Tbk
 POJK           Peraturan Otoritas Jasa Keuangan                       Financial Services Authority Regulations
 PPN            Pajak Pertambahan Nilai                                Value Added Tax
 PT             Perseroan Terbatas                                     Limited Liability Company
                                                                       2021 General Guidelines on Indonesian Corporate
 PUG-KI         Pedoman Umum Governansi Korporat Indonesia 2021
                                                                       Governance
 RI             Republik Indonesia                                     The Republic of Indonesia
 RUPS           Rapat Umum Pemegang Saham                              General Meeting of Shareholders
 RUPSLB         Rapat Umum Pemegang Saham Luar Biasa                   Extraordinary General Meeting of Shareholders
 RUPST          Rapat Umum Pemegang Saham Tahunan                      Annual General Meeting of Shareholders
 SEOJK          Surat Edaran Otoritas Jasa Keuangan                    Circular Letter of Financial Services Authority
 Tbk            [Perusahaan] Terbuka                                   Public [Company]
 UU             Undang-undang                                          Regulations
 UUPT           Undang-undang Perseroan Terbatas                       Limited Liability Company Act
 WBS            Sistem Pelaporan Pelanggaran                           Whistleblowing System




                                                                                     2025 ANNUAL REPORT                  9
Page 10
Ikhtisar
Kinerja 2025
2025 Performance Highlights
Page 11
PT DUTA PERTIWI TBK                  20
           LAPORAN TAHUNAN
              ANNUAL REPORT          25

Artist’s Impressions - Giva at The Kaia
Grand Wisata • Bekasi
Page 12
     Ikhtisar Kinerja 2025
     2025 Performance Highlights




Ikhtisar Keuangan
Financial Highlights
[SEOJK 2.a] [ACGS C.2.2]




Laporan Posisi Keuangan Konsolidasian
Consolidated Statements of Financial Position

                  Uraian                            Description                         2025            2024            2023

  ASET                                   ASSETS
  Aset Lancar                            Current Assets
     Kas dan setara kas                    Cash and Cash Equivalents                   3.533.269       2.525.243        2.875.636
     Investasi                             Investment                                     207.631        240.431         277.638
     Piutang usaha                         Trade Accounts Receivables                     23.388          22.651          23.545
     Persediaan                            Inventories-                                3.763.584       3.358.168        4.025.717
     Uang Muka                             Advances                                      322.283         151.368           27.323
     Aset Lancar Lainnya                   Other Current Assets                          342.973        343.454           381.389
     Jumlah Aset Lancar                    Total Current Assets                         8.193.128      6.641.315       7.632.828
  Aset Tidak Lancar                      Noncurrent Assets
     Investasi dalam Saham                 Investment in Shares                          583.824        607.376          589.898
     Tanah yang Belum
                                           Land for Development                        4.809.836      4.644.449         4.557.125
     Dikembangkan
     Aset Tetap                            Property and Equipment                         205.412       220.234          226.826
     Properti Investasi                    Investment Properties                        2.259.877      2.169.596        2.093.186
     Aset Tidak Lancar Lainnya             Other Noncurrent Assets                     2.349.662          79.428           31.627
     Jumlah Aset Tidak Lancar              Total Noncurrent Assets                     7.952.566       7.721.082       7.498.661

                           Jumlah Aset                         Total Assets           16.145.694      14.362.397       15.131.489

  LIABILITAS                             LIABILITIES
  Liabilitas Jangka Pendek               Current Liabilities
     Utang Usaha                           Trade Accounts Payables                        219.518       225.709           398.147
     Liabilitas Kontrak                    Contract Liabilities                           1.231.131     1.001.240       1.908.686
     Uang Muka Diterima                    Advances Received                              80.693          72.097          72.342
     Liabilitas jangka pendek lainnya      Other Current Assets                           412.036        414.317         446.254
     Jumlah Liabilitas Jangka Pendek     Total Current Liabilities                      1.943.378      1.713.364        2.827.911

  Liabilitas Jangka Panjang              Noncurrent Liabilities
     Liabilitas Kontrak                    Contract Liabilities                          242.568         538.391         587.480
     Uang Muka Diterima                    Advances Received                               15.401          10.107           7.132
     Sewa Diterima di Muka                 Rental Advances                                97.782          74.768         104.869
     Liabilitas Jangka Panjang Lainnya     Other Noncurrent Liabilities                   163.574        158.003          143.210
     Jumlah Liabilitas Jangka Panjang    Total Noncurrent Liabilities                    519.326         781.269         842.691

                    Jumlah Liabilitas                      Total Liabilities           2.462.704      2.494.632        3.670.602

                      Jumlah Ekuitas                              Total Equity        13.682.990      11.867.765       11.460.887

      Jumlah Liabilitas dan Ekuitas           Total Liabilities and Equity            16.145.694      14.362.397       15.131.489


                                                                                 dalam jutaan Rupiah, kecuali dinyatakan lain
                                                                                          in million IDR, unless otherwise stated




12         LAPORAN TAHUNAN 2025
Page 13
                                                                                                         PT Duta Pertiwi Tbk




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



                Uraian                                Description                    2025           2024           2023

 Pendapatan usaha                      Revenues                                     2.733.021     4.422.683      3.862.424
 Beban pokok penjualan                 Cost of revenues                              901.696        1.812.401    1.546.864
 Laba kotor                            Gross profit                                 1.831.325      2.610.282      2.315.560
 Beban usaha                           Operating expenses                           1.173.553       1.251.315     1.123.099
 Laba usaha                            Profit from operation                         657.773       1.358.968       1.192.461
 Penghasilan (beban) lain-lain         Other income (expenses)                      (34.625)         (9.513)        88.426
 Ekuitas pada laba bersih dari         Share in Net income (loss) of
                                                                                         1.241        27.618          6.601
 investasi dalam saham                 associates and joint ventures
 Laba sebelum pajak                    Income before tax                             624.389       1.377.072      1.287.488
 Beban pajak kini                      Current tax expense                                796            1.541       2.226
 Laba tahun berjalan                   Net profit for the year                       623.593       1.375.531      1.285.261
 Penghasilan (rugi) komprehensif
                                       Other comprehensive income (loss)             (4.293)         (3.317)       (2.393)
 lain
 Jumlah penghasilan komprehensif       Total comprehensive income                    619.300        1.372.214     1.282.869

 Jumlah laba tahun berjalan yang       Total profit for the year
 dapat diatribusikan kepada:           attributable to:

   Pemilik entitas induk                 Owners of the Parent Company                422.054        851.769       1.066.421
   Kepentingan nonpengendali             Non-controlling interests                   201.540        523.762         218.841

 Jumlah penghasilan komprehensif       Total comprehensive income
 yang dapat diatribusikan kepada:      attributable to:

   Pemilik entitas induk                 Owners of the Parent Company                418.292        848.443       1.064.322
   Kepentingan nonpengendali             Non-controlling interests                   201.008        523.770        218.546

 Laba per saham dasar (dalam Rupiah
                                       Basic earnings per share (in full IDR)           228,14       460,42         576,44
 penuh)

                                                                          dalam jutaan Rupiah, kecuali dinyatakan lain
                                                                                   in million IDR, unless otherwise stated




Rasio-rasio Penting
Important Ratios


                Uraian                            Description                    2025             2024            2023

 Marjin laba usaha                     Operating profit margin                    24,07%           30,73%          30,87%
 Marjin laba sebelum pajak             Profit before tax margin                   22,85%            31,14%          33,33%
 Marjin laba bersih                    Net profit margin                           15,44%          19,26%           27,61%
 Imbal hasil ekuitas                   Return on equity                            4,56%            11,59%           11,21%
 Imbal hasil aset                      Return on asset                             3,86%            9,58%            8,49%
 Rasio utang terhadap aset             Debt to asset ratio                               0                0               0
 Rasio lancar                          Current Ratio                                4,22x            3,91x            2,70x
 Rasio utang bersih terhadap ekuitas   Net debt to equity ratio                 Net Cash         Net Cash        Net Cash




                                                                                             2025 ANNUAL REPORT              13
Page 14
        Ikhtisar Kinerja 2025
        2025 Performance Highlights




Ikhtisar Saham
Stock Highlights
[SEOJK 2.b.1]




Saham Perusahaan hanya diperdagangkan di                                                                          The Company’s share is only traded on Indonesia
Bursa Efek Indonesia dengan kode saham DUTI.                                                                      Stock Exchange under DUTI as its ticker code.



Grafik Perdagangan Saham di BEI Tahun 2024 - 2025
Trading Shares on the BEI for Year 2024 - 2025

     Rp/saham – IDR/Shares                                                                                                                                              Ribu Saham – Thousand Shares
              4.700

                      4.750




                                       4.600
                               4.550




                                                                                                                                                                                                           4.420
                                                                                                                                                                                       4.400
5 .000                                                                                                                                                                                                                       1.000




                                                                                                                                                                                                  4.360
                                               4.350




                                                                        4.200




                                                                                                                                                                                                                     4.180
                                                                                                                                                                               4.180
                                                               4.120
                                                       4.100




                                                                                4.000

                                                                                        4.040

                                                                                                3.970




                                                                                                                                                                                                                              900




                                                                                                                                                    3.830
                                                                                                                  3.660
                                                                                                          3.620




4.000
                                                                                                                            3.450




                                                                                                                                                                                                                              800



                                                                                                                                                            3.360
                                                                                                                                                                                               770,6




                                                                                                                                                                       3.300
                                                                                                                                            3.350
                                                                                                                                    3.250




                                                                                                                                                                                  771,8
                                                                                                                                                                                                                              700
3.000

                                                                                                                                                                                                                              600
                                                                                                        524,3

2.000                                                                                                                                                                                                                         500


                                                                                                                                                                                                                              400

1.000
                                                                                                                                                                                                                              300
                                                                                                                                                               216,4
                                                                                                                                                                                                                              200
                                                                                                                                                                                          141,0
500                                                                                                                                                                                                                124,8
                                                                                                                           74,6
                              31,5                                              31,7                         54,6                                   45,4                                                                      100
                                                                                        21,0                                        41,3
             18,1     17,9             7,1     10,4 21,2       4,8
                                                                       22,3
                                                                                                   21,8                                     13,3                    14,8                            31,1
0                                                                                                                                                                                                                               0
            Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun                                                                                  Jul Aug Sep Oct Nov Dec
                                                       2024                                                                                                  2025
                                  Harga Penutupan – Closing Price                                                         Volume Transaksi – Transaction Volume




14           LAPORAN TAHUNAN 2025
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                                                                                                 PT Duta Pertiwi Tbk




Perdagangan Saham di BEI Tahun 2024 - 2025
Trading Shares on the BEI for the Year 2024 - 2025



                   Harga Saham / Lembar                              Volume                                Kapitalisasi
                                                                                 Transaksi        Nilai
                     Stock Price / Share              Jumlah        Transaksi                                 Pasar
                                                                                 (Rp Miliar) Frekuensi
Tahun                                                 Lembar        (Lembar)                                (Rp Miliar)
 Year                                                                           Transaction      (Kali)
                                                      Saham          Trading                                  Market
        Pembukaan Tertinggi Terendah Penutupan                                     Value      Frequency
                                                    Total Shares     Volume                               Capitalization
          Opening  Highest   Lowest    Closing                                  (IDR Billion)   (Times)
                                                                     (Share)                               (IDR Billion)

 2025      4.520      4.950     3.500      4.180   1.850.000.000    2.299.700       9,30       5.677             7.733

  Q1       4.520       3.710     3.610     3.250   1.850.000.000      170.500        0,61        364             6.013

  Q2       4.530      3.930     3.620      3.360   1.850.000.000      73.500         0,27         211            6.216

  Q3       3.800      4.950     3.500      4.400   1.850.000.000    1.758.800         7,16     4.333             8.140

  Q4       4.000      4.480     4.420      4.180   1.850.000.000     296.900         1,26        769             7.733



                   Harga Saham / Lembar                              Volume                                Kapitalisasi
                                                                                 Transaksi        Nilai
                     Stock Price / Share              Jumlah        Transaksi                                 Pasar
                                                                                 (Rp Miliar) Frekuensi
Tahun                                                 Lembar        (Lembar)                                (Rp Miliar)
 Year                                                                           Transaction      (Kali)
                                                      Saham          Trading                                  Market
        Pembukaan Tertinggi Terendah Penutupan                                     Value      Frequency
                                                    Total Shares     Volume                               Capitalization
          Opening  Highest   Lowest    Closing                                  (IDR Billion)   (Times)
                                                                     (Share)                               (IDR Billion)

 2024      4.520      4.950     3.570      3.620   1.850.000.000      732.100        3,29       1.441            6.697

  Q1       4.520      4.920     4.360      4.550   1.850.000.000      67.500         0,31         316            8.418

  Q2       4.530      4.680     3.670      4.100   1.850.000.000       38.700         0,17        184            7.585

  Q3       3.800      4.200     3.800      4.000   1.850.000.000      58.800         0,23         198            7.400

  Q4       4.000      4.950     3.570      3.620   1.850.000.000      567.100        2,58        743             6.697


Aksi Korporasi [SEOJK 2.b.2]                               Corporate Actions
Selama tahun 2025, tidak ada aksi korporasi                Throughout 2025, there was no any corporate
apapun     yang       mengakibatkan   terjadinya           action that resulted in changes to shares. This
perubahan pada saham, termasuk pemecahan                   includes stock split, reverse stock, stock dividends,
saham, penggabungan saham, dividen saham,                  bonus stock, changes in the nominal value of the
saham bonus, perubahan nilai nominal saham,                stock, issuance of convertible securities, as well
penerbitan efek konversi, serta penambahan dan             as capital addition and reduction.
pengurangan modal.


Penghentian Sementara/Pembatalan                           Temporary Suspension/ Delisting
Pencatatan Saham [SEOJK 2.b.3]
Pada tahun 2025, saham Perusahaan tidak                    In 2025, the Company stocks were not suspended
dihentikan maupun dibatalkan, baik sementara               or delisted, whether temporarily or permanently.
maupun permanen.




                                                                                   2025 ANNUAL REPORT                 15
Page 16
Laporan
Kepada
Pemangku
Kepentingan
Report to Stakeholders
Page 17
PT DUTA PERTIWI TBK                20
          LAPORAN TAHUNAN
             ANNUAL REPORT         25

Artist’s Impressions - Kota Wisata Ecovia
Cibubur
Page 18
     Laporan Kepada Pemangku Kepentingan
     Report to Stakeholders




Laporan
Direksi
Report of the Directors
[SEOJK 2.c]




                      TEKY MAILOA
                               Direktur Utama
                               President Director




                      “Perusahaan melanjutkan pengembangan proyek-proyek strategis dengan fokus
                              pada penguatan kualitas kawasan dan keberlanjutan pengelolaan aset.”
                       “The Company remained committed to developing strategic projects aimed at
                   enhancing quality within the area and promoting sustainable asset management.”




Para Pemegang Saham yang terhormat,                 Our Respected Stakeholders,
Tahun 2025 menjadi fase penting bagi                2025 marked a key stage for the Company
Perusahaan untuk menegaskan kembali arah            to reaffirm our business path and priorities
dan prioritas bisnis di tengah perubahan lanskap    amidst the changing landscape of the property
industri properti. Lingkungan usaha global masih    industry. Despite uncertain global business
diwarnai oleh ketidakpastian, sementara di dalam    environment, the domestic property sector is
negeri stabilitas ekonomi tetap terjaga dengan      currently undergoing a dynamic phase of market
dinamika sektor properti yang berada pada fase      consolidation. Considering these circumstances,
konsolidasi pasar. Kondisi tersebut menuntut        it is essential for the Company to prioritize focus,
Perusahaan untuk mengedepankan fokus, disiplin      discipline and precision in executing its business
dan ketepatan dalam menjalankan strategi            strategy to ensure continued relevance in the
usaha agar tetap relevan sampai ke masa-masa        years ahead.
mendatang.

Dalam       konteks      tersebut,   Perusahaan     In this context, the Company viewed 2025
memandang tahun 2025 bukan semata sebagai           not merely as a timeframe for short-term
periode pencapaian jangka pendek, melainkan         achievement, but as a potential to enhance its
sebagai tahapan untuk memperkuat fondasi            long-term foundation. Sustainable infrastructure
jangka panjang. Keberlanjutan pembangunan           development, area quality and the integration
infrastruktur, kualitas kawasan, serta integrasi    of residential and commercial functions are key
fungsi hunian dan komersial tetap menjadi           structural elements that support the prospects of
faktor struktural yang mendukung prospek            the property industry, particularly for integrated
industri properti, khususnya bagi pengembangan      township which represents the Company’s core
kawasan terpadu yang menjadi kekuatan utama         strength.
Perusahaan.




18       LAPORAN TAHUNAN 2025
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                                                                                       PT Duta Pertiwi Tbk




Direksi  mengarahkan        Perusahaan    untuk      The Directors have directed the Company to
menanggapi     dinamika       tersebut  melalui      address these dynamics through prudent and
pengelolaan bisnis yang cermat dan terukur.          measured business management. Throughout
Sepanjang tahun 2025, fokus utama diberikan          2025, the primary focus was on strengthening
pada     penguatan       fundamental    usaha,       business fundamentals, balancing the portfolio
pengelolaan portofolio yang seimbang, serta          and ensuring financial stability and liquidity. This
pemeliharaan stabilitas keuangan dan likuiditas.     approach aims to ensure the Company remains
Pendekatan ini diambil untuk memastikan              adaptable and ready to face evolving market
Perusahaan tetap memiliki fleksibilitas dan          conditions.
kesiapan dalam menghadapi perubahan kondisi
pasar.

Kinerja pada tahun 2025 merefleksikan fokus          The performance in 2025 reflected that primary
utama tersebut, sehingga di tengah penurunan         focus, as the Company experienced a decline
Pendapatan Usaha menjadi Rp2,73 triliun dan Laba     in Revenues to IDR2.73 trillion and Net Profit to
Bersih menjadi Rp422,05 miliar, Perusahaan tetap     IDR422.05 billion, still the Company remains to
menjadi pilihan pasar dengan penyerapan yang         be the preferred choice in the market with strong
baik atas produk-produk yang diluncurkannya.         engagement of its product launches.


Kinerja Tahun 2025 dan Strategi Pencapaian           2025 Performance and Achievement Strategy
[SEOJK 2.c.1]
Kondisi ekonomi global pada 2025 masih               The global economic conditions in 2025 continue to
diwarnai ketidakpastian, meskipun menunjukkan        be uncertain, though there are signals of stabilizing
stabilisasi dibandingkan tahun sebelumnya. IMF       compared to the prior year. The IMF forecasts a
memproyeksikan pertumbuhan ekonomi global            global economic growth rate of 3.2%, reflecting a
sebesar     3,2%,  mencerminkan        perlambatan   structural slowdown due to geopolitical factors
struktural akibat faktor geopolitik dan dampak       and the effect of global monetary policy. This
kebijakan moneter global. Situasi ini memengaruhi    significantly affects market sentiment, including
sentimen pasar, termasuk sektor properti.            the real estate sector.

Di tingkat domestik, ekonomi Indonesia tumbuh        At the domestic level, Indonesia’s economy
5,11% secara tahunan pada 2025. Inflasi berada       experienced an annual growth of 5.11% of 2025.
pada level terkendali sebesar 2,38%, dengan          Inflation remained under control at 2.38%,
kebijakan suku bunga yang relatif stabil. Kondisi    supported by a stable interest rate policy. These
tersebut menopang daya beli, namun mendorong         favorable conditions have uphold purchasing
pasar properti bergerak lebih selektif.              power while encouraging a more selective
                                                     approach within the property market.

Industri properti nasional memasuki fase             The national property industry is currently
konsolidasi, ditandai dengan stabilisasi harga dan   experiencing a consolidation phase, signed by
perbedaan kinerja antar segmen. Stimulus fiskal      price stabilization and variable performance
pemerintah tetap berperan menjaga aktivitas          across different segments. The government’s
pasar, meskipun transaksi cenderung dipengaruhi      fiscal stimulus plays a crucial role in supporting
oleh momentum kebijakan.                             market activity, although transactions tend to be
                                                     swayed by policy momentum.

Berangkat    dari    pembacaan      atas kondisi     Based on the assessment of macroeconomic and
makroekonomi dan industri tersebut, Direksi          industry conditions, the Directors have formulated
menetapkan strategi yang menekankan ketepatan        a strategy that prioritizes target accuracy,
sasaran, penguatan fundamental dan pengelolaan       fundamental strengthening and prudent risk
risiko yang terukur. Menghadapi fase konsolidasi     management. Considering the current market
pasar, Direksi memandang bahwa keberhasilan          consolidation phases, the Directors see that
tidak ditentukan oleh percepatan ekspansi,           success is not defined by rapid expansion but by
melainkan oleh kemampuan dalam menentukan            the ability to prioritize development, time product
prioritas pengembangan, waktu peluncuran             launches effectively and allocate resources in
produk, serta alokasi sumber daya yang disiplin      a disciplined manner that aligns with market
dan selaras dengan karakteristik pasar.              characteristics.


                                                                           2025 ANNUAL REPORT          19
Page 20
     Laporan Kepada Pemangku Kepentingan
     Report to Stakeholders




Sepanjang tahun, Direksi berperan aktif sebagai       Throughout the year, the Directors took an active
pengarah utama yang memastikan setiap                 role as the principal decision-makers, ensuring that
keputusan bisnis Perusahaan diambil secara            every business decision made by the Company
terintegrasi dan berdasarkan pertimbangan yang        was well-integrated and based on thorough
menyeluruh. Kami meyakini bahwa strategi yang         analysis. We believe that an effective strategy
tepat harus dibangun atas pemahaman yang              must be founded on a balanced understanding
seimbang antara kondisi internal Perusahaan,          of the Company’s internal conditions, market
dinamika pasar, serta risiko dan peluang yang         dynamics and the inherent risks and opportunities
melekat pada industri properti.                       within the property industry.

Setiap    pengembangan        mempertimbangkan        Each development was evaluated based on
kesiapan infrastruktur, daya serap pasar, serta       its infrastructure readiness, market absorption
kontribusinya terhadap nilai jangka panjang           capacity and its potential contribution to the
kawasan. Strategi promosi diarahkan untuk             region’s long-term value. Promotional strategies
meningkatkan efektivitas pemasaran dan kualitas       were designed to enhance marketing effectiveness
penjualan, dengan tetap menjaga disiplin harga        and improve sales quality, all while ensuring pricing
dan konsistensi posisi pasar, sehingga tidak          discipline and maintaining consistent positioning
menimbulkan distorsi nilai jangka panjang.            to prevent any distortion of long-term value.

Sepanjang tahun 2025, Perusahaan melanjutkan          Throughout 2025, the Company remained
pengembangan proyek-proyek strategis dengan           committed to developing strategic projects
fokus pada penguatan kualitas kawasan dan             aimed at enhancing quality within the area and
keberlanjutan pengelolaan aset.                       promoting sustainable asset management.

Di   Semarang,    Perusahaan       melaksanakan       In Semarang, the Company is launching the DP
pembukaan pengembangan DP Mall Expansion              Mall Expansion, which will enhance the regional
yang memperkuat posisi aset pusat perbelanjaan        commercial assets’ presence and broaden the
regional   dan   memperluas       fungsi  pusat       shopping center’s role as a hub for community
perbelanjaan sebagai ruang aktivitas masyarakat.      activities.

Grand Wisata tetap menjadi salah satu penggerak       Grand Wisata continues to be a significant catalyst
utama aktivitas pengembangan dan penjualan.           for development and sales initiatives. In 2025, the
Pada 2025, kawasan ini menargetkan penjualan          area aims to achieve sales by employing a strategy
dengan strategi sebagai “supermarket properti”        that positions it as a “property supermarket”,
yang menawarkan beragam pilihan hunian dan            offering a diverse selection of residential and
produk komersial sesuai preferensi konsumen.          commercial products tailored to consumer
Strategi tersebut diwujudkan melalui peluncuran       preferences. The strategy is implemented
produk yang berkesinambungan untuk menjangkau         through consistent product launches, targeting
berbagai segmen pasar dan menjaga momentum            different market segments and to maintain sales
penjualan.                                            momentum.

Sebagai bagian dari strategi tersebut, Grand Wisata   As a key element of this strategy, Grand Wisata
meluncurkan Klaster Altara pada Mei 2025. Klaster     unveiled the Altara Cluster in May 2025. This cluster
ini diposisikan sebagai hunian modern minimalis       is designed as a modern, minimalist residential
dengan konsep ruang terbuka di kawasan Timur          complex featuring an open-air concept in the
Grand Wisata, yang dirancang untuk menjawab           eastern section of Grand Wisata. It aims to meet
kebutuhan konsumen akan hunian fungsional dan         consumer demands for functional housing and a
lingkungan yang nyaman. Selain itu, peluncuran        comfortable living environment. Additionally, the
klaster Giva di kawasan premium The Kaia Grand        introduction of the Giva Cluster in the premium
Wisata Bekasi turut memperkuat portofolio hunian      The Kaia Grand Wisata Bekasi area enhances the
modern di segmen menengah atas serta menjaga          portfolio of modern residential properties in the
kesinambungan       pengembangan           kawasan    upper-middle segment, ensuring the continuing
premium.                                              development of premium areas.




20      LAPORAN TAHUNAN 2025
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                                                                                         PT Duta Pertiwi Tbk




Penguatan nilai kawasan juga didukung oleh             The strengthening of the area’s value is further
pengembangan        fasilitas   pendukung       yang   supported by the development of integrated
terintegrasi. Sejumlah fasilitas baru mulai            support facilities. Several new projects are
dikembangkan, termasuk pusat perbelanjaan,             currently underway, including a shopping center,
distrik baru, serta Premium Sport Club yang            a new district and the Premium Sport Club,
direncanakan mulai beroperasi pada Kuartal             which is scheduled to commence operations in
II - 2026. Fasilitas-fasilitas tersebut dibangun       Q2 of 2026. These facilities are being integrated
terintegrasi dengan proyek hunian di kawasan           with residential projects in the eastern Grand
Timur Grand Wisata, seperti Altara Home dan            Wisata area, such as Altara Home and Vicente.
Vicente. Kehadiran infrastruktur eksternal, termasuk   The presence of external infrastructure, notably
akses Tol JORR 2 yang berjarak sekitar 700 meter       the JORR 2 Toll Road located approximately 700
dari kawasan, menjadi katalis penting dalam            meters from the area, serves as a significant
meningkatkan daya tarik dan nilai jangka panjang       catalyst for enhancing the area’s attractiveness
kawasan.                                               and long-term value.

Di Kota Wisata, pengembangan kawasan terpadu           In Kota Wisata, integrated area development has
terus berlanjut melalui proyek-proyek baru yang        remained progressing through new projects that
mengedepankan integrasi fungsi hunian, komersial       emphasize the integration between residential,
dan fasilitas pendukung. Pembukaan fasilitas           commercial and supporting facilities. The opening
retail & hospitality yang terintegrasi dengan          of retail & hospitality facilities alongside shopping
pusat perbelanjaan turut memperkaya ekosistem          centers similarly enriches the area’s ecosystem
kawasan dan mendukung diversifikasi aktivitas          and promotes economic activity diversification.
ekonomi. Selain itu, berbagai kegiatan dan acara       Additionally, a variety of activities and events in
di area komersial dilaksanakan untuk menjaga           the commercial zones are organized to increase
tingkat kunjungan dan memperkuat daya tarik            visitor engagement and enhance the area’s
kawasan.                                               attraction.

Pada    tahun 2025, melalui Entitas Anak dan           In year 2025, a collaboration through Subsidiary
Sumitomo Forestry Indonesia bekerjasama untuk          and Sumitomo Forestry Indonesia to develop
mengembangkan kawasan baru bernama                     a new area called Kota Wisata Ecovia. This
Kota Wisata Ecovia. Kawasan seluas 156,50 ha           156.50 hectare area was planned to feature
ini direncanakan menghadirkan sekitar 4.500            approximately 4,500 landed residential units, 375
unit hunian tapak serta 375 unit ruko dan kavling      shophouses and commercial lots, embracing a
komersial dengan konsep hunian dan komersial           sustainable residential and commercial concept.
berkelanjutan. Peluncuran klaster perdana, Klaster     The launch of the initial cluster, the Orlens Cluster,
Orlens, menandai dimulainya tahap pemasaran            marked the beginning of the sales acitivity and
dan menunjukkan kesiapan pengembangan                  demonstrated the area’s readiness for future
kawasan secara bertahap.                               gradual development.

Diversifikasi fungsi kawasan turut diperkuat melalui   The functional diversification of the area was
kehadiran Artotel Living World Kota Wisata, hotel      further enhanced by the presence of Artotel
butik yang terintegrasi dengan pusat perbelanjaan      Living World Kota Wisata, a boutique hotel that
dan resmi beroperasi pada Agustus 2025. Kehadiran      integrates seamlessly with a shopping center.
fasilitas hospitality ini memperluas ekosistem         Officially opened in August 2025, this hospitality
kawasan, tidak hanya sebagai tempat tinggal            facility widens the area’s ecosystem, serving
dan berusaha, tetapi juga sebagai destinasi gaya       not only as a residential and commercial hub
hidup dan akomodasi, serta mendukung aktivitas         but also as a lifestyle and accommodation
komersial di sekitarnya.                               destination that compliments the surrounding
                                                       commercial activities.

Dalam      menjaga       keseimbangan      antara      To ensure a balance between growth and stability,
pertumbuhan dan stabilitas, Direksi mengelola          the Directors oversee a diversified portfolio that
portofolio secara terdiversifikasi, mencakup           includes integrated township developments,
pengembangan        kota    terpadu,  residensial,     residential projects, apartments, commercial
apartemen, kawasan komersial, serta properti           area and investment properties. This strategic
investasi.  Diversifikasi    ini  memungkinkan         diversification enables balance management of




                                                                              2025 ANNUAL REPORT          21
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     Laporan Kepada Pemangku Kepentingan
     Report to Stakeholders




pengelolaan siklus bisnis yang lebih seimbang,          business cycles, which recurring revenue from
yang mana pendapatan berulang dari aset                 commercial assets and investment properties
komersial dan properti investasi berperan sebagai       represent a pillar of stability. From a financial
penopang stabilitas. Dari sisi keuangan, prinsip        perspective, prudent principles have been applied
kehati-hatian diterapkan melalui pengelolaan            through effective liquidity management and
likuiditas dan struktur permodalan yang sehat.          robust capital structure.

Untuk memastikan strategi dan kebijakan strategis       To ensure the consistent implementation of
dijalankan secara konsisten, Direksi menerapkan         strategy and strategic policy, the Directors
proses pemantauan dan pengendalian yang                 implement a structured monitoring and control
terstruktur. Implementasi strategi dievaluasi secara    process. The implementation of strategies is
berkala melalui penelaahan kinerja operasional          periodically assessed through operational and
dan keuangan, serta pemantauan atas kesesuaian          financial performance reviews, along with the
pelaksanaan dengan rencana kerja yang telah             monitoring of compliance with established work
ditetapkan.                                             plans.

Pemahaman langsung terhadap pelaksanaan di              Direct insight into on-the-ground implementation
lapangan diperoleh melalui kunjungan ke proyek-         is gained through visits to key projects and ongoing
proyek utama dan komunikasi berkelanjutan               engagement with stakeholders. This approach
dengan para pemangku kepentingan. Pendekatan            enables the Directors to promptly identify
ini memungkinkan Direksi untuk mengidentifikasi         operational challenges and make necessary
tantangan operasional secara dini dan melakukan         adjustments in a timely manner.
penyesuaian yang diperlukan secara tepat waktu.

Pengelolaan dan pengarahan dilakukan sesuai             Management and guidance are implemented in
dengan panduan strategi, dengan penekanan               accordance with strategic guidelines, prioritizing
pada konsistensi dalam mengelola proyek-proyek          consistency in the measurable management
utama secara terukur. Hal ini harus dilakukan           of key projects. This approach is essential for
sambil tetap menjaga kualitas pengembangan              maintaining development quality and fostering
guna mendukung pertumbuhan jangka panjang.              long-term growth. Consequently, the Company
Dengan cara ini, Perusahaan dapat merealisasikan        has achieved a marketing sales of IDR1.76 trillion
prapenjualan 2025 sebesar Rp1,76 triliun, yang          by 2025, with contributions of IDR1.36 trillion from
dikontribusikan segmen residensial sebesar Rp1,36       the residential segment and IDR404 billion from
triliun dan segmen komersial sebesar Rp404              the commercial segment. The initial marketing
miliar. Target prapenjualan yang ditetapkan pada        sales target set at the beginning of the year was
awal tahun adalah sebesar Rp2,18 triliun, dengan        IDR2.18 trillion, comprising 67% of the residential
proporsi 67% berasal dari segmen residensial dan        segment and 33% of the commercial segment.
33% dari segmen komersial. [SEOJK 2.c.1d]

Kinerja finansial Perusahaan pada tahun 2025            The Company’s financial performance in 2025
mencerminkan fokus Direksi pada kualitas kinerja        reflects the Directors’ commitment to performance
dan keberlanjutan struktur keuangan. Pada tahun         quality and the sustainability of its financial
2025, Pendapatan Usaha Perusahaan tercatat              framework. In 2025, the Company recorded
sebesar Rp2,73 triliun. Capaian tersebut, meski turun   Revenues of IDR2.73 trillion. While this figure is lower
dibandingkan tahun sebelumnya, mencerminkan             than the previous year, it indicates a strategic
penyesuaian ritme penjualan dan realisasi proyek        adjustment in sales progression and project
di tengah kondisi industri yang lebih berhati-hati.     realization in response to more cautious industry
Meski hasilnya bergerak lebih moderat, Perusahaan       conditions. Despite the moderate revenue growth,
tetap membukukan Laba Bersih yang positif               the Company achieved a positive Net Profit of
sebesar Rp422,05 miliar, mencerminkan efektivitas       IDR422.05 billion, reflecting effective cost control,
pengendalian biaya, disiplin operasional, serta         operational discipline and a well-managed cost
struktur biaya yang terkelola dengan baik.              structure.




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Dari sisi posisi keuangan, Jumlah Aset Perusahaan         In terms of financial performance, the Company’s
meningkat menjadi Rp16,15 triliun, mencerminkan           Total Assets rose to IDR16.15 trillion, indicating
penguatan basis aset strategis yang didukung oleh         a robust strategic asset base supported by an
bertambahnya persediaan real estat dan properti           increase in real estate and investment property
investasi. Pada saat yang sama, Jumlah Ekuitas            inventory. Concurrently, Total Equity grows to
tumbuh menjadi Rp13,68 triliun, menegaskan                IDR13.68 trillion, underscoring a solid capital
struktur permodalan yang solid dan dominasi               structure and a predominance of equity-based
pendanaan berbasis ekuitas. Likuiditas Perusahaan         funding. The Company’s liquidity remains strong,
juga menunjukkan penguatan, dengan posisi Kas             with Cash and Cash Equivalents amounting to
dan Setara Kas sebesar Rp3,53 triliun serta rasio         IDR3.53 trillion and a maintained debt-to-equity
utang terhadap ekuitas yang terjaga pada level            ratio of zero. Furthermore, the solid Contract
0 kali. Selain itu, nilai Liabilitas Kontrak yang tetap   Liabilities of IDR1.47 trillion highlight the future
kuat pada Rp1,47 triliun mencerminkan visibilitas         revenue potential and a sustained sales pipeline.
pendapatan ke depan dan pipeline penjualan
yang terjaga.


Prospek ke Depan: Target dan Strategi yang                Future Prospects: Formulated Targets and
Dirumuskan [SEOJK 2.c.2]                                  Strategies
Memasuki tahun 2026, Direksi memandang                    As we approach 2026, the Directors view the
prospek ekonomi nasional berada pada jalur                national economic outlook to be on a relatively
pertumbuhan yang relatif stabil, dengan                   stable growth trajectory. Indonesia’s economic
proyeksi pertumbuhan ekonomi Indonesia pada               growth is projected to fall within the range of
kisaran 5,3%–5,4%, didukung oleh konsumsi                 5.3% to 5.4%, supported by sustained household
rumah tangga yang terjaga, belanja pemerintah             consumption, structured government spending
yang terarah, serta perbaikan investasi. Di               and an improvement in investment. On a global
tingkat global, pertumbuhan ekonomi dunia                 scale, economic growth is anticipated to remain
diperkirakan tetap moderat, dengan tekanan                moderate, characterized by subdued inflationary
inflasi yang melandai dan arah kebijakan                  pressures and a more accommodating
moneter yang lebih akomodatif, sehingga                   monetary policy. This environment potentially
berpotensi memperbaiki sentimen investasi dan             may enhance investment sentiment and reduce
menurunkan biaya pendanaan.                               funding costs.

Di   dalam     negeri,  inflasi diproyeksikan             Domestically, inflation is anticipated to remain
tetap terkendali dalam rentang sasaran BI,                within Bank Indonesia’s target range, thereby
membuka ruang bagi kebijakan moneter yang                 allowing for more accommodating monetary
lebih mendukung pertumbuhan. Stabilitas                   policies. Maintaining macroeconomic stability
makroekonomi dan kebijakan fiskal yang terjaga            and a robust fiscal policy are crucial foundations
menjadi fondasi penting bagi iklim investasi,             for fostering a favorable investment climate,
termasuk di sektor properti.                              particularly within the property sector.

Dalam konteks tersebut, industri properti nasional        In this context, the national property sector
pada 2026 diperkirakan melanjutkan fase                   is anticipated to maintain its constructive
konsolidasi yang lebih konstruktif. Permintaan            consolidation phase in 2026. Demand for
properti residensial diproyeksikan tumbuh                 residential properties is expected to experience
secara moderat, terutama pada segmen hunian               moderate growth, especially in the landed
tapak di kawasan penyangga perkotaan dan                  housing segment located in urban buffer zones
kota terpadu. Sementara itu, segmen hunian                and integrated cities. On the other hand, the
vertikal, perkantoran, serta properti komersial           vertical housing, office and commercial property
diperkirakan bergerak lebih selektif, dengan              are expected to shift a more selective approach,
prospek yang relatif lebih baik pada kawasan              with comparatively favorable prospects in
terintegrasi dan berbasis gaya hidup.                     integrated and lifestyle-oriented areas.




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Dalam menghadapi prospek tersebut, Direksi        In addressing these prospects, the Directors
memandang        bahwa    posisi   Perusahaan     believe the Company is well-positioned in
berada pada jalur yang sejalan dengan arah        alignment with industry trends. The Company’s
perkembangan industri. Portofolio kota terpadu    portfolio of integrated cities, including Grand
yang dimiliki Perusahaan, seperti Grand Wisata    Wisata and Kota Wisata, offers a structural
dan Kota Wisata, memberikan keunggulan            advantage in adapting to changing market
struktural   dalam     menjawab     perubahan     preferences. Furthermore, the Company’s
preferensi pasar. Pengembangan kawasan yang       phased and integrated approach to regional
dilakukan secara bertahap dan terintegrasi        development enables it to sustain product
memungkinkan Perusahaan untuk menjaga             relevance while effectively managing risk in a
relevansi produk sekaligus mengelola risiko       measured manner.
secara terukur.

Pada tahun 2026, fokus Perusahaan diarahkan       In 2026, the Company’s primary focus will be
pada pematangan kawasan dan optimalisasi          on enhancing the area and maximizing the
nilai aset yang telah dikembangkan. Penguatan     value of its developed assets. Initiatives to
fasilitas   pendukung     kawasan,   termasuk     strengthen the area’s supporting facilities,
komersial, gaya hidup dan retail & hospitality,   including commercial lifestyle and retail &
diharapkan mulai memberikan kontribusi yang       hospitality, are anticipated to make a significant
lebih nyata terhadap kualitas kawasan dan         contribution to both the quality of the area and
keberlanjutan pendapatan. Pendekatan ini          its revenue sustainability. This strategy aims to
menyeimbangkan antara pertumbuhan dan             strike a balance between growth and stability,
stabilitas dan mendukung target prapenjualan      thereby supporting the Company’s marketing
Perusahaan senilai Rp2,0 triliun dengan           sales target of IDR2.0 trillion, with a composition
komposisi 67,5% dari penjualan residensial dan    of 67.5% from residential sales and 32.5% from
32,5% dari penjualan commercial.                  commercial sales.

Dari sisi keuangan, Direksi akan tetap            From the financial side, the Directors will
mengedepankan        prinsip     kehati-hatian    consistently prioritize prudent principles in
dalam pengelolaan likuiditas dan struktur         managing both liquidity and capital structure.
permodalan. Dengan posisi keuangan yang           With a solid financial foundation, the Company
solid, Perusahaan memiliki fleksibilitas untuk    is well-positioned to support planned project
mendukung pengembangan proyek yang telah          development       while    remaining    resilient
direncanakan, sekaligus menjaga ketahanan         against potential market volatility and shifting
terhadap    potensi  volatilitas  pasar   dan     macroeconomic conditions.
perubahan kondisi makroekonomi.

Direksi memandang tahun 2026 sebagai fase         The Directors view 2026 as a sequel stage in
lanjutan untuk memperkuat fondasi usaha.          strengthening the foundation of the business.
Fokus pada kualitas pengembangan, disiplin        By prioritizing development quality, disciplined
pengelolaan risiko dan keberlanjutan kawasan      risk management and emphasizing regional
diharapkan dapat menempatkan Perusahaan           sustainability, the Company aims to be better
pada posisi yang lebih siap dalam menanggapi      positioned to seize long-term growth prospects.
peluang pertumbuhan jangka panjang.

Implementasi Governansi Perusahaan                Corporate Governance Implementation
[SEOJK 2.c.3]
Direksi meyakini bahwa penerapan governansi       The Directors believe that effective corporate
perusahaan yang baik merupakan pondasi            governance is fundamental to sustaining
utama dalam menjaga keberlanjutan usaha           business     sustainability    and     fostering
dan kepercayaan para pemangku kepentingan.        stakeholder trust. In the context of the
Di tengah dinamika industri properti yang         increasingly intricate dynamics of the property
semakin kompleks, governansi yang konsisten       industry, maintaining consistent and disciplined
dan disiplin menjadi kerangka penting dalam       governance is vital. This framework ensures
memastikan bahwa setiap keputusan strategis       that all strategic decisions are executed
dijalankan    secara   bertanggung    jawab,      responsibly, transparently and in alignment
transparan dan sejalan dengan kepentingan         with the Company’s long-term objectives.
jangka panjang Perusahaan.


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Dalam menjalankan fungsi pengelolaan, Direksi                                         In fulfilling its management responsibilities,
secara aktif melaksanakan rapat koordinasi                                            the Directors conduct regular coordination
berkala dengan manajemen dan unit-unit kerja                                          meetings with management and relevant
terkait. Rapat-rapat tersebut difokuskan untuk                                        work units. These meetings aim to ensure the
memastikan bahwa strategi dan kebijakan yang                                          effective and coordinated implementation of
telah ditetapkan dapat diimplementasikan                                              established strategies and policies throughout
secara efektif dan terkoordinasi di seluruh lini                                      the organization. Through these discussions, the
organisasi. Melalui forum ini, Direksi memantau                                       Directors monitor performance development,
perkembangan          kinerja,     mengevaluasi                                       evaluate the achievement also identify
pencapaian, serta mengidentifikasi potensi                                            potential obstacles since early and determine
kendala sejak dini untuk kemudian menetapkan                                          the necessary follow-up actions.
langkah tindak lanjut yang diperlukan.

Direksi juga secara konsisten memantau                                                The     Directors  consistently  assess    the
efektivitas sistem pengendalian internal dan                                          effectiveness of the internal control and risk
manajemen risiko yang diterapkan di seluruh                                           management systems established throughout
aktivitas Perusahaan yang tercermin dari                                              all Company operations, as evidenced by the
penyampaian laporan-laporan yang akurat                                               timely and accurate submission of reports.
dan tepat waktu. [PUGKI 1.1.4] Evaluasi dilakukan                                     Evaluations have been performed to ensure
untuk memastikan bahwa proses bisnis berjalan                                         that business processes align with relevant
sesuai dengan kebijakan dan prosedur yang                                             policies and procedures and that key risks—
berlaku, risiko-risiko utama dapat diidentifikasi                                     particularly those associated with information
serta dikelola secara memadai, termasuk risiko-                                       technology—are identified and effectively
risiko terkait penggunaan teknologi informasi,                                        managed to safeguard the Company’s assets.
agar aset Perusahaan terlindungi dengan                                               This approach underscores the Directors’
baik. Pendekatan ini mencerminkan komitmen                                            dedication to achieving a balance between
Direksi dalam menjaga keseimbangan antara                                             performance and risk management.
pencapaian kinerja dan pengendalian risiko.
[PUGKI 1.1.2] [PUGKI 1.1.3] [PUGKI 1.1.4] [PUGKI 1.1.6] [PUGKI 5.1.1] [PUGKI 5.2.1]
[PUGKI 5.3.1]


Dalam       mendukung                      integritas           dan                   In advocating integrity and professionalism,
profesionalisme, Direksi menaruh perhatian                                            the Directors are committed to enforcing
serius terhadap penerapan Kode Etik di seluruh                                        the Code of Conduct across all Company
tindakan    Perusahaan,                termasuk              dengan                   activities, including addressing appropriate
penindakan atas pelanggaran. Kode Etik                                                action against violations. This Code serves
menjadi pedoman perilaku bagi seluruh jajaran                                         as a behavioral guideline for every level of
manajemen dan karyawan dalam menjalankan                                              management and employees as they fulfill
tugas dan tanggung jawabnya. Direksi                                                  their duties and responsibilities. The Directors
memastikan bahwa prinsip-prinsip etika bisnis,                                        ensure that the principles of business ethics,
kepatuhan terhadap peraturan perundang-                                               adherence to laws and regulations and values
undangan, serta nilai-nilai integritas diterapkan                                     of integrity are consistently integrated into all
secara konsisten dalam setiap pengambilan                                             decision-making processes and interactions
keputusan dan interaksi dengan pemangku                                               with stakeholders.
kepentingan. [PUGKI 1.1.1.1] [PUGKI 1.1.1.2] [PUGKI 4.3.1.4]

Direksi menjaga hubungan kerja yang konstruktif                                       The Directors maintain a constructive and
dan profesional dengan BOC serta komite-                                              professional working relationship with the BOC
komite terkait. Informasi mengenai kinerja,                                           and associated committees. They periodically
kondisi keuangan, pengelolaan risiko dan                                              receive information regarding performance,
isu-isu strategis disampaikan secara berkala                                          financial status, risk management and strategic
untuk mendapatkan pandangan, nasihat dan                                              matters to gain valuable insights, advice and
rekomendasi. Interaksi antara Direksi dan BOC                                         recommendations. Interaction between the
dilakukan secara terstruktur melalui rapat rutin,                                     Directors and the BOC is organized through
penyampaian laporan kinerja dan risiko, serta                                         regular meetings, submission of performance
diskusi atas isu-isu strategis yang relevan                                           and risk reports, discussions on strategic issues
dengan arah pengembangan Perusahaan.                                                  pertinent to the Company’s developmental
Melalui     mekanisme       tersebut,    Direksi                                      direction. Through these channels, the Directors


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memperoleh pandangan dan pengawasan                 receive independent insights and oversight from
independen dari BOC, yang menjadi bagian            the BOC, which plays a crucial role in the strategic
integral dalam proses pengambilan keputusan         decision-making process. This collaborative
strategis. Hubungan kerja ini dibangun atas         relationship is grounded in mutual respect for
prinsip saling menghormati peran dan fungsi         each party’s roles and functions, ensuring that
masing-masing,      sehingga      memastikan        the Company’s management aligns with the
pengelolaan Perusahaan berjalan sejalan             principles of prudence, compliance and the
dengan prinsip kehati-hatian, kepatuhan, serta      long-term interests of shareholders and other
kepentingan jangka panjang pemegang saham           stakeholders.
dan pemangku kepentingan lainnya. [PUGKI 3.2.1.2]

Direksi juga terbuka terhadap masukan dari          The Directors welcome feedback from all
seluruh pemangku kepentingan, baik internal         stakeholders, both internal and external.
maupun eksternal. Masukan yang diterima             This input is considered an integral part of
dipandang sebagai bagian dari proses perbaikan      our continuous improvement process and
berkelanjutan    dan     ditindaklanjuti secara     is addressed in accordance with relevant
proporsional sesuai dengan ketentuan yang           regulations. Such an approach enhances
berlaku. Pendekatan ini memperkuat akuntabilitas    accountability and fosters more comprehensive,
serta mendukung pengambilan keputusan yang          balanced decision-making.
lebih komprehensif dan berimbang.

Melalui penerapan governansi perusahaan             Through the consistent and integrated
yang konsisten dan terintegrasi, Direksi            implementation of corporate governance, the
berkomitmen     untuk    terus    memperkuat        Directors are dedicated to enhancing market
kepercayaan     pasar,    menjaga    reputasi       trust, preserving the Company’s reputation
Perusahaan, serta memastikan keberlanjutan          and ensuring business sustainability. Good
usaha. Governansi yang baik tidak hanya             governance is regarded not merely as a
dipandang sebagai kewajiban kepatuhan, tetapi       compliance obligation but as a strategic tool
sebagai instrumen strategis untuk menciptakan       for creating long-term value for shareholders
nilai jangka panjang bagi pemegang saham            and all stakeholders.
dan seluruh pemangku kepentingan.


Apresiasi                                           Appreciation
Direksi menyampaikan penghargaan kepada             The Directors express their appreciation to the
BOC atas peran pengawasan dan arahan                BOC for its oversight and strategic guidance
strategis yang diberikan sepanjang tahun            throughout 2025. Additionally, they extend
2025,   serta   kepada     seluruh  karyawan        gratitude to all employees and management
dan     manajemen     atas    komitmen   dan        for their dedication and professionalism in
profesionalisme dalam menjalankan kegiatan          executing the Company’s business activities.
usaha Perusahaan. Sinergi yang terbangun            The synergy cultivated across all levels of the
di seluruh lini organisasi menjadi penopang         organization serves as a vital foundation for
penting dalam menjaga stabilitas kinerja            maintaining stable performance and enhancing
sekaligus memperkuat kesiapan Perusahaan            the Company’s awareness to navigate industry
menghadapi dinamika industri.                       dynamics.

Apresiasi  juga   ditujukan  kepada   para          Appreciation was also extended to stakeholders,
pemangku kepentingan, termasuk mitra usaha          including business partners and customers
dan pelanggan atas kepercayaan serta kerja          for their trust and continued collaboration.
sama yang terjalin secara berkelanjutan.            This support lays a strong foundation for the
Dukungan tersebut memberikan landasan yang          implementation of the Company’s strategy and
kuat bagi pelaksanaan strategi Perusahaan           sustainable regional development, aligned with
dan    pengembangan       kawasan   secara          market demands and the objectives of national
berkesinambungan, sejalan dengan kebutuhan          development.
pasar dan arah pembangunan nasional.




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Sebagai penutup, Direksi menyatakan ulang        To conclude, the Directors reaffirmed their
komitmen untuk mengelola Perusahaan secara       commitment to manage the Company with
bertanggung jawab, adaptif dan berorientasi      responsibility, adaptability and a long-term
jangka panjang tetap menjadi prioritas utama.    perspective, which remains a top priority.
Dengan fondasi usaha yang solid, penerapan       With a robust business foundation, consistent
governansi yang konsisten, serta fokus           governance practices and a sustained focus,
yang terjaga, Perusahaan optimistis dapat        the Company is optimistic about its capacity
melanjutkan pengembangan usaha secara            for sustainable development and the creation
berkelanjutan dan menciptakan nilai jangka       of long-term value for shareholders and all
panjang bagi pemegang saham dan seluruh          stakeholders.
pemangku kepentingan.




                                     Atas nama Direksi,
                                  On behalf of the Directors,




                                       Teky Mailoa
                              Direktur Utama • President Director




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Laporan
Dewan
Komisaris
Report of the Board of
Commissioners
[SEOJK 2.d]




              MUKTAR WIDJAJA
                        Komisaris Utama
                        President Commissioner




                                “Upaya-upaya Direksi telah membuahkan hasil yang dipandang selaras
                                                  dengan dinamika industri yang dihadapi Perusahaan.”
                             “The initiatives undertaken by the Directors have yielded results that align
                                                    with the industry dynamics affecting the Company.”




Para Pemegang Saham yang terhormat,                   Our Respected Shareholders
Sepanjang tahun 2025, Perusahaan beroperasi           Throughout 2025, the Company operated in a
dalam lingkungan usaha yang menuntut                  business environment that demanded prudence
kehati-hatian dan ketepatan pengambilan               and accurate decision-making. The property
keputusan. Kondisi industri properti yang berada      industry’s consolidation phase emphasizes
pada fase konsolidasi mendorong pentingnya            the importance of disciplined, long-term
pengelolaan yang disiplin, berorientasi jangka        management, supported by strong corporate
panjang, serta didukung oleh penerapan                governance.
governansi perusahaan yang kuat.

BOC memandang bahwa peran pengawasan                  The BOC views an effective oversight role as
yang efektif menjadi semakin krusial dalam            increasingly crucial in ensuring that the strategies
memastikan bahwa strategi dan kebijakan               and policies implemented by the Directors remain
yang dijalankan Direksi tetap berada dalam            within an adequate risk management framework.
kerangka manajemen risiko yang memadai.               With relatively stable national macroeconomic
Dengan dukungan kondisi makroekonomi                  conditions, the Company is positioned to sustain
nasional yang relatif stabil, Perusahaan dapat        business continuity and is ready to tackle future
menjaga kesinambungan usaha dan kesiapan              challenges.
menghadapi tantangan ke depan.




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Penilaian terhadap kinerja Direksi [SEOJK 2.d.1]       Assessment of the Directors’ Performance
[PUGKI 1.2.1]
Kondisi industri properti pada tahun 2025              The condition of the property industry in
menunjukkan pergerakan pasar yang semakin              2025 indicated increasingly selective market
selektif  dan    menuntut      ketepatan     dalam     movements, necessitating precision in business
pengelolaan usaha. Pertumbuhan ekonomi                 management. National economic growth remains
nasional yang tetap terjaga pada kisaran moderat       at a moderate, hovering around 5, while inflation
sekitar 5%, serta inflasi yang relatif terkendali di   is kept in check at low levels, according to data
level rendah, sebagaimana tercermin dalam data         from the BPS. This provides a stable foundation for
Badan Pusat Statistik (BPS), memberikan landasan       overall economic activity, despite ongoing global
stabil bagi aktivitas ekonomi secara umum              challenges. In line with BI’s policy of adopting a
meskipun tantangan global masih berlangsung.           prudent monetary approach through a stable
Sejalan dengan kebijakan Bank Indonesia (BI) yang      benchmark interest rate, property demand
menerapkan pendekatan moneter secara cermat            patterns are shifting. There is a heightened focus
melalui suku bunga acuan yang relatif stabil,          on product quality, area readiness and competitive
pola permintaan properti berkembang dengan             financing options. Within this context, the BOC
penekanan yang lebih kuat pada kualitas produk,        evaluates that the Company’s management
kesiapan kawasan dan skema pembiayaan yang             has been conducted carefully, with a focus on
kompetitif. Dalam hal tersebut, BOC menilai bahwa      strengthening fundamentals and ensuring long-
pengelolaan Perusahaan dilakukan secara terukur,       term business sustainability.
berorientasi pada penguatan fundamental, serta
mempertimbangkan keberlanjutan usaha dalam
jangka panjang.

Sepanjang tahun berjalan, kami mencermati              Throughout the year, we observed that the
bahwa Direksi mampu menjaga kesinambungan              Directors were able to maintain business
kegiatan usaha dengan tetap melanjutkan                sustainability by constantly develop strategic
pengembangan proyek-proyek strategis yang              projects within the Company’s core portfolio.
menjadi portofolio utama Perusahaan. Fokus             Management focused on not just launching high-
pengelolaan tidak hanya diarahkan pada                 quality, innovative and eco-friendly products,
peluncuran produk-produk berkualitas unggul,           but also on enhancing the area, strengthening
inovatif dan hijau, tetapi juga pada pematangan        supporting facilities and improving the quality of
kawasan, penguatan fasilitas pendukung, serta          development environment. These efforts aimed
kualitas lingkungan pengembangan sebagai               to preserve long-term asset value in a market
bagian dari upaya menjaga nilai aset jangka            amidst more selective market demand.
panjang di tengah permintaan pasar yang lebih
selektif.

Pengembangan kawasan kota terpadu, khususnya           The development of integrated townships,
di Grand Wisata dan Kota Wisata, tetap berlangsung     particularly in Grand Wisata and Kota Wisata,
secara konsisten dengan pendekatan yang                continues to progress consistently, reflecting an
disesuaikan terhadap dinamika permintaan pasar.        approach that is responsive to market demand
Mengacu pada berbagai survei industri properti,        dynamics. According to various property industry
penjualan residensial sepanjang 2025 bergerak          surveys, residential sales in 2025 were limited and
terbatas dan sangat dipengaruhi oleh kesiapan          significantly influenced by product readiness and
produk serta kebijakan pembiayaan. Dalam konteks       financing policies. In this context, the launch of
tersebut, peluncuran klaster hunian dilakukan          residential clusters has been executed selectively
secara selektif dan bertahap, disertai dengan          and in stages, complemented by the development
pengembangan fasilitas kawasan, sehingga               of regional amenities to support the area’s
mendukung “status” kawasan sebagai hunian dan          positioning as an integrated lifestyle destination.
gaya hidup terpadu. Pendekatan ini dinilai sejalan     This strategy aligns with our commitment to
dengan strategi menjaga kualitas penjualan dan         maintaining sales quality and ensuring sustainable
kesinambungan pengembangan kawasan.                    regional development.

Selain pengembangan hunian, BOC menilai                In addition to residential development, the BOC
langkah Direksi dalam memperkuat pengelolaan           recognizes the Directors’ efforts in strengthening
aset komersial sebagai capaian yang relevan            the management of the commercial asset to be
di tengah kondisi pasar. Di tengah kehati-hatian       relevant achievements amidst market conditions.


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dunia usaha dan perubahan pola konsumsi               Given the current climate of business caution
masyarakat, pengembangan dan pengoperasian            and evolving consumer consumption patterns,
aset komersial regional, termasuk pusat               the development and management of regional
perbelanjaan dan fasilitas pendukung kawasan,         commercial assets, such as shopping centers and
dipandang berkontribusi dalam menjaga aktivitas       aminities facilities, are viewed as vital contributions
ekonomi kawasan serta memperluas sumber               to sustaining regional economic activity and
pendapatan yang bersifat berulang.                    diversifying recurring revenue streams.

Diversifikasi   fungsi       kawasan        melalui   We are also committed to diversifying the area’s
pengembangan       fasilitas    hospitality   dan     functionality through the development of hospitality
aktivasi area komersial turut menjadi perhatian       facilities and the activation of commercial spaces.
kami. Kehadiran fasilitas tersebut dipandang          The presence of these amenities is viewed as a
memperkaya ekosistem kawasan, meningkatkan            means to enrich the area ecosystem, enhance
daya tarik kawasan secara keseluruhan, serta          overall attractiveness and contribute to the long-
mendukung stabilitas nilai properti di sekitarnya     term stability of surrounding property values. This
dalam jangka panjang, sejalan dengan tren             approach aligns with the trend of integrated area
pengembangan kawasan terpadu yang semakin             development, which increasingly emphasizes
mengedepankan fungsi gaya hidup dan                   lifestyle functions and visitor experiences.
pengalaman pengunjung.

Upaya-upaya Direksi ini telah membuahkan hasil        The initiatives undertaken by the Directors
yang dipandang selaras dengan dinamika industri       have yielded results that align with the industry
yang dihadapi Perusahaan. Target prapenjualan         dynamics affecting the Company. The marketing
yang ditetapkan bersama pada awal tahun yaitu         sales target 2025 of IDR2.18 trillion was set at the
senilai Rp2,18 triliun dengan komposisi residensial   beginning of the year, comprising a residential
dan komersial masing-masing sebesar 67% dan           and commercial of 67% and 33% respectively.
33%. Pencapaian prapenjualan tahun 2025 adalah        The marketing sales results in 2025 reached
Rp1,76 triliun, dengan komposisi 77,03% dan 22,97%    IDR1.76 trillion, which residential and commercial
untuk residensial dan komersial.                      composition of 77.03% and 22.97%.

Dari sisi kinerja keuangan, BOC mencermati            In its assessment of financial performance, the BOC
bahwa Direksi menunjukkan kedisiplinan dalam          acknowledged the Directors’ disciplined approach
pengelolaan keuangan Perusahaan. Pada tahun           to the Company’s financial management. In
2025, Pendapatan Usaha tercatat sebesar Rp2,73        2025, Revenues were recorded at IDR2.73 trillion,
triliun, mencerminkan penyesuaian ritme realisasi     reflecting adjustments in project realization and
proyek dan pengakuan pendapatan sejalan               revenue recognition in response to more cautious
dengan kondisi industri yang bergerak lebih           industry conditions. Despite these challenges,
berhati-hati. Dalam situasi tersebut, Perusahaan      the Company achieved a positive Net Profit of
tetap membukukan Laba Bersih yang positif             IDR442.05 billion, showcasing effective cost control
sebesar Rp422,05 miliar, yang menunjukkan             and a well-structured operational framework.
efektivitas pengendalian biaya serta struktur
operasional yang terkelola dengan baik.

Penguatan posisi keuangan juga tercermin dari         The strengthening financial position was also
peningkatan Jumlah Aset menjadi Rp16,15 triliun       reflected in the increase in Total Assets to IDR16.15
serta pertumbuhan Jumlah Ekuitas menjadi              trillion and Total Equity growth to IDR13.68 trillion.
Rp13,68 triliun. Posisi Kas dan Setara Kas yang       A solid Cash and Cash Equivalent position
kuat memberikan fleksibilitas keuangan untuk          provides financial flexibility to support business
mendukung kegiatan usaha, pengembangan                activities, project development and prudent risk
proyek, serta pengelolaan risiko secara terukur,      management, particularly amid ongoing external
khususnya dalam menghadapi ketidakpastian             uncertainties.
eksternal yang masih berlanjut.

Pengawasan atas perumusan dan implementasi            The BOC oversaw the formulation and
strategi dijalankan oleh BOC melalui rapat rutin,     implementation of strategy through regular
penelaahan laporan kinerja dan keuangan, serta        meetings, reviews of performance to financial
pembahasan atas isu-isu strategis dan risiko          report, also discussions of critical strategic
utama. Melalui interaksi yang terstruktur dan         issues and risks. Through structured and ongoing


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berkelanjutan dengan Direksi, pandangan dan          engagement with the Directors, insights and
rekomendasi disampaikan untuk memastikan             recommendations were shared to ensure that
bahwa kebijakan yang dijalankan tetap sejalan        the implemented policies remain align with the
dengan prinsip governansi perusahaan yang baik       principles of the good corporate governance and
dan kepentingan jangka panjang Perusahaan.           the Company’s long-term objectives.

Respons Direksi terhadap dinamika eksternal,         The Directors’ response to external dynamics
termasuk ketidakpastian ekonomi global, kehati-      including global economic uncertainty, consumer
hatian konsumen, serta sensitivitas pasar terhadap   caution and market sensitivity to financing policies
kebijakan pembiayaan dan insentif fiskal, juga       and fiscal incentives — was a focal point during
menjadi perhatian dalam proses pengawasan.           the oversight process. Adjustments to launch
Penyesuaian strategi peluncuran, promosi dan         strategies, promotions and development priorities
prioritas pengembangan dinilai dilakukan secara      were evaluated thoughtfully, ensuring a balance
terukur, dengan tetap menjaga keseimbangan           between achieving performance and ensuring
antara pencapaian kinerja dan stabilitas jangka      long-term stability.
panjang.

Dengan dibantu      oleh Komite Audit, proses        With the support of the Audit Committee, a
penilaian atas kinerja Direksi sepanjang tahun       thorough evaluation of the Directors’ performance
2025 telah dilaksanakan secara menyeluruh.           for the 2025 was carried out. The results of this
Berdasarkan hasil penilaian tersebut, kami           assessment indicate that the management
memandang bahwa arah pengelolaan yang                strategy implemented has effectively strengthened
ditempuh telah memperkuat fondasi usaha              the Company’s business foundation, ensure
Perusahaan, menjaga relevansi strategi di tengah     strategic relevance amidst macroeconomic and
dinamika makro ekonomi dan industri properti,        the property industry dynamic, while positioned
serta menempatkan Perusahaan pada posisi yang        the Company for ongoing development and
lebih siap untuk melanjutkan pengembangan            generating long-term value for shareholders.
dan menciptakan nilai jangka panjang bagi
pemegang saham.


Pandangan atas Prospek Usaha Jangka                  Outlook on Long-Term Business Prospects and
Panjang dan Tahun 2026 [SEOJK 2.d.2] [PUGKI 1.3.1]   2026
BOC memandang bahwa prospek usaha                    The BOC saw that the Company’s long-
Perusahaan dalam jangka panjang tetap berada         term business prospects is remain positive,
pada jalur yang positif, didukung oleh fundamental   supported by the relatively solid national
ekonomi nasional yang relatif solid serta posisi     economic fundamentals and the Company’s
Perusahaan yang kuat dalam pengembangan              strong position within integrated townships.
kawasan terpadu. Berdasarkan proyeksi BPS dan        Based on projections from the BPS and several
sejumlah lembaga internasional, pertumbuhan          international institutions, Indonesia’s economic
ekonomi Indonesia pada tahun 2026 diperkirakan       growth in 2026 was estimated to be in the range
berada pada kisaran 5,0%–5,2%, dengan                of 5.0%–5.2%, with household consumption
konsumsi rumah tangga yang secara konsisten          consistently contributing for over 50% to Gross
menyumbang lebih dari 50% terhadap Produk            Domestic Product. This condition, along with
Domestik Bruto. Kondisi tersebut, disertai dengan    a stable national inflation forecast of 2.5%±1%,
proyeksi inflasi nasional yang stabil di 2,5%±1%,    creates a favorable environment for the property
memberikan landasan yang kondusif bagi               sector, particularly in areas with well-developed
sektor properti, khususnya di kawasan dengan         infrastructure and amenities.
infrastruktur dan fasilitas yang telah berkembang
dengan baik.

BOC mencermati bahwa industri properti               The BOC noted that the national property industry
nasional masih berada dalam fase konsolidasi,        remains in a consolidation phase, yet it is starting
namun menunjukkan indikasi perbaikan secara          to show signs of gradual improvement. Referring
bertahap. Mengacu pada Survei Harga Properti         to the BI Residential Property Price Survey in 2025,
Residensial BI Tahun 2025, penjualan unit properti   residential property unit sales in the primary
residensial di pasar primer secara tahunan masih     market recorded an annual growth of 7.83% (yoy),
mencatat pertumbuhan sebesar 7,83% (yoy),            a notable recovery from the previous quarter’s


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membaik dibandingkan triwulan sebelumnya                contraction of 3.80% (yoy). This improvement
yang mencatat kontraksi 3,80% (yoy). Perbaikan          indicates that demand pressures are cyclical
ini mengindikasikan bahwa tekanan permintaan            and are starting to stabilize.
bersifat siklikal dan mulai bergerak menuju
stabilisasi.

Dalam konteks tersebut, BOC menilai bahwa               In this context, the BOC assesses that market
ketahanan      pasar   cenderung   lebih   baik         resilience tends to be better in mature areas
pada kawasan yang telah matang, memiliki                with adequate infrastructure and integrated
infrastruktur memadai, serta menawarkan konsep          development       concepts.    Areas   featuring
pengembangan yang terintegrasi. Kawasan                 comprehensive       facilities  and  preserved
dengan dukungan fasilitas lengkap dan kualitas          environmental quality were expected to remain
lingkungan yang terjaga diperkirakan tetap              the primary choice for consumers amidst
menjadi pilihan utama konsumen di tengah pola           increasingly selective demand patterns.
permintaan yang semakin selektif.

Sejalan dengan dinamika tersebut, preferensi            In line with these dynamics, market preferences
pasar diperkirakan terus bergeser ke arah hunian        were expected to to keep evolving towards
yang terintegrasi dengan fasilitas komersial, ruang     residence integrated with commercial facilities,
terbuka dan akses transportasi yang baik. Tingkat       open spaces and convenient transportation
urbanisasi Indonesia yang telah melampaui               access. Indonesia’s urbanization rate, which has
57% dan diproyeksikan terus meningkat dalam             exceeded 57% and is expected to rise further in the
jangka menengah menjadi salah satu pendorong            medium term, serves as a significant structural
struktural permintaan hunian di kawasan                 driver of residential demand in urban areas and
perkotaan dan wilayah penyangganya.                     their surrounding areas.

Dalam lanskap ini, posisi Perusahaan sebagai            In this context, the Company’s position as an
pengembang kawasan terpadu dengan portofolio            integrated area developer with a diverse portfolio
yang beragam dipandang memiliki keunggulan              is viewed as a sustainable competitive advantage.
kompetitif yang berkelanjutan. Kawasan-kawasan          Key areas such as Grand Wisata and Kota Wisata
utama seperti Grand Wisata dan Kota Wisata telah        boast a well-established infrastructure, public
memiliki basis infrastruktur, fasilitas publik, serta   facilities and active economic engagement.
aktivitas ekonomi yang relatif matang, sehingga         These allow the Company to fine-tune the
memberikan fleksibilitas bagi Perusahaan dalam          development stages to market dynamics with
menyesuaikan tahapan pengembangan dengan                flexibility while maintaining the quality of the
dinamika pasar, tanpa mengorbankan kualitas             areas.
kawasan.

BOC juga menilai bahwa aset komersial dan               The BOC further assesses that commercial assets
properti investasi akan terus memainkan peran           and investment properties will maintain a crucial
strategis dalam menopang stabilitas kinerja             role in ensuring long-term performance stability.
jangka panjang. Kontribusi pendapatan berulang          The ongoing recurring revenues contributions
dari pusat perbelanjaan dan fasilitas komersial         from shopping centres and commercial facilities
kawasan dipandang semakin relevan dalam                 in the area were seen as increasingly relevant in
menjaga kesinambungan arus kas, khususnya di            maintaining cash flow sustainability, particularly
tengah fluktuasi penjualan berbasis proyek.             amidst project-based sales fluctuations.

Dengan mempertimbangkan proyeksi ekonomi,               Considering economic forecasts, trends within
dinamika industri properti, serta posisi dan            the property industry and the Company’s current
strategi Perusahaan saat ini, BOC menilai               position and strategy, the BOC assesses that 2026
bahwa tahun 2026 berpotensi menjadi periode             presents a promising opportunity for constructive
penguatan yang lebih konstruktif. Fondasi usaha         growth. With a solid business foundation, a well-
yang solid, portofolio kawasan yang matang,             developed regional portfolio and a prudent
serta pendekatan pengelolaan yang cermat                management strategy, sited the Company in the
menempatkan Perusahaan pada posisi yang                 ideal position to generate sustainable long-term
ideal untuk menciptakan nilai jangka panjang            value.
secara berkelanjutan.



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                                                                                                     PT Duta Pertiwi Tbk




Pandangan atas Penerapan Governansi                                  Views on the Implementation of Corporate
Perusahaan [SEOJK 2.d.3] [PUGKI 1.3.6] [PUGKI 1.3.7] [PUGKI 1.3.8]   Governance
Sepanjang tahun 2025, kerangka governansi                            Throughout 2025, the governance framework will
terus menjadi rujukan BOC untuk mengevaluasi                         serve as the essential reference for the BOC in
setiap proses pengambilan keputusan, baik                            assessing all decision-making processes, both
pada tingkat strategis maupun operasional, serta                     strategic and operational stage. This framework
tercermin dalam sikap dan perilaku seluruh insan                     will also be evident in the attitudes and behaviors
Perusahaan.                                                          of all personnel within the Company.

BOC, dengan dukungan Komite Audit, secara                            The BOC, with the support of the Audit Committee,
berkala melakukan penelaahan atas kecukupan                          regularly   assesses       the   adequacy       and
dan efektivitas sistem pengendalian internal.                        effectiveness of the internal control system. Based
Berdasarkan hasil pemantauan, sistem yang                            on the assessment results, the implemented
diterapkan dinilai mampu mendukung kelancaran                        system has been found to effectively support
proses bisnis, menjaga keandalan pelaporan,                          the seamless functioning of business processes,
serta menyediakan informasi yang relevan dan                         ensure reliable reporting and providing relevant
tepat waktu bagi Direksi dan manajemen dalam                         and timely information to the Directors and
menjalankan tanggung jawabnya.                                       management in fulfilling their responsibilities.

Pengelolaan risiko juga menjadi fokus utama                          Risk management plays a crucial role in the
dalam penerapan governansi perusahaan.                               implementation of corporate governance.
Sepanjang tahun berjalan, kami mencermati                            Throughout the year, we have observed that
bahwa proses identifikasi, pemantauan, dan                           the processes for identifying, monitoring and
mitigasi risiko telah dijalankan secara terstruktur.                 mitigating risks were executed in an organized
Risiko-risiko utama yang berpotensi memengaruhi                      manner. Significant risks that could affect
kinerja dan keberlangsungan usaha telah                              business performance and sustainability have
dipetakan dan dikelola dengan langkah mitigasi                       been mapped and addressed with appropriate
yang sesuai, sehingga Perusahaan memiliki                            mitigation strategies, thus improving the
kesiapan yang lebih baik dalam menghadapi                            Company’s preparedness to navigate the
dinamika lingkungan usaha.                                           complexities of the business environment.

Dalam aspek pengelolaan sumber daya                                  In terms of leadership resource management,
kepemimpinan, BOC bersama NRC melakukan                              the BOC in collaboration with the NRC, assessed
evaluasi atas kinerja Direksi dan anggota                            the performance of both the Directors and BOC
BOC. Evaluasi tersebut mempertimbangkan                              members. This evaluation considered various
pencapaian kinerja, kepatuhan terhadap                               factors, including performance achievements,
prinsip tata kelola, serta kesesuaian struktur                       adherence to governance principles and the
organisasi dengan kebutuhan Perusahaan.                              alignment of the organizational structure with
Berdasarkan hasil evaluasi tersebut, struktur                        the Company’s requirements. The assessment
Direksi dan BOC dinilai masih relevan dan                            concluded that the current structures of the
memadai untuk mendukung pengelolaan dan                              Directors and BOC are relevant and sufficient to
pengawasan Perusahaan.                                               effectively support the Company’s management
                                                                     and oversight functions.

Secara keseluruhan, BOC memandang bahwa                              Overall, the BOC see that the corporate
praktik governansi perusahaan pada tahun                             governance practices implemented in 2025
2025 telah diterapkan secara konsisten dan                           have been effectively implemented, leading
memberikan kontribusi positif terhadap stabilitas                    to enhanced stability and resilience for the
serta ketahanan Perusahaan. Ke depan, upaya                          Company. Moving forward, efforts to strengthen
penguatan tata kelola akan terus dilanjutkan                         corporate governance will remain continue,
dengan     mengacu       pada     perkembangan                       guided by regulatory developments and best
regulasi dan praktik terbaik, guna memastikan                        practices, to ensure the Company is managed
Perusahaan dikelola secara bertanggung jawab                         responsibly and with a long-term perspective.
dan berorientasi jangka panjang.




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Penutup                                              Closing
Kami memberikan penghargaan kepada Direksi           We would like to express our gratitude to the
atas pelaksanaan tugas dan tanggung jawab            Directors for their effective implementation of
pengelolaan Perusahaan sepanjang tahun 2025.         their duties and responsibilities in managing the
Di tengah kondisi industri yang bergerak selektif    Company throughout 2025. Amidst a volatile
dan menuntut kehati-hatian, upaya Direksi dalam      and uncertain industry that demands alert, the
menjaga fokus yang memampukan Perusahaan             Directors’ unwavering focus has positioned the
untuk merangkul masa depan.                          Company to confidently embrace the future.

Penghargaan juga disampaikan kepada seluruh          We would like to express our sincere appreciation
insan Perusahaan yang telah menjalankan              to all Company personnel who have fulfilled
peran dan tanggung jawabnya sesuai dengan            their roles and responsibilities in alignment
prinsip governansi dan nilai-nilai Perusahaan.       with the principles of good governance and
Kontribusi para pemangku kepentingan, termasuk       the Company’s values. The contributions of
mitra usaha, pelanggan dan para pemangku             our stakeholders—including business partners,
kepentingan, turut mendukung terciptanya iklim       customers and stakeholders—have encouraged
usaha yang kondusif serta keberlangsungan            a favorable business environment and ensured
operasional Perusahaan sepanjang tahun berjalan.     the continuity of our operations throughout the
Dan akhirnya, kami berharap seluruh dukungan         year. We look forward to the ongoing support of
akan tetap tersedia bagi Perusahaan sampai ke        all stakeholders in the years ahead.
tahun-tahun mendatang.




                                     Atas nama Dewan Komisaris,
                               On behalf of the Board of the Commissioners,




                                           Muktar Widjaja
                                Komisaris Utama • President Commissioner




34      LAPORAN TAHUNAN 2025
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         PT Duta Pertiwi Tbk




2025 ANNUAL REPORT       35
Page 36
Profil
Perusahaan
Company Profile
Page 37
PT DUTA PERTIWI TBK           20
       LAPORAN TAHUNAN
          ANNUAL REPORT       25

           Klaska Residence
           Surabaya
Page 38
     Profil Perusahaan
     Company Profile




Informasi Perusahaan
Company Information



 Nama Perusahaan
 Company Name                    PT Duta Pertiwi Tbk *)
 [SEOJK 2.e.1]
                                 *)   Perusahaan belum pernah melakukan perubahan nama Perusahaan selama menjalankan usaha.
                                      The Company has never changed its name since it started operations.




                                 ITC Mangga Dua                        +62 21 601 9788 (hunting)
 Alamat Kantor Pusat             7- 8 th Floor                         +62 21 601 7039
 Head Office Address             Jl. Mangga Dua Raya                   corporate.secretary@sinarmasland.com
 [SEOJK 2.e.2][ACGS C.7.2]       Jakarta Utara                         www.sinarmasland.com
                                 14430 Indonesia                       www.dutapertiwi.com


                                 Sinar Mas Land Plaza
 Alamat Korespondensi            Grand Boulevard
 Correspondence Address          BSD Green Office Park
 [SEOJK 2.e.2]                   BSD City                              +62 21 50 368 368
                                 Tangerang 15345                       +62 21 50 588 270


                                 Susan
 Sekretaris Perusahaan
 Corporate Secretary                                                   susan.wtj@sinarmasland.com
                                  +62 21 50 368 368
                                  +62 21 50 588 270                   corporate.secretary@sinarmasland.com


 Hubungan Investor               Ricardo Arif Dharmawan
 Investor Relations                                                    ricardo.dharmawan@sinarmasland.com
                                  +62 21 50 368 368
 [ACGS C.10.1]
                                  +62 21 50 588 270

 Bidang Usaha
                                 Real Estat / Properti • Real Estate / Property
 Business Sector

 Tanggal Pendirian
                                 29 Desember 1972 • December 29th, 1972
 Date of Establishment

 Tanggal Pencatatan di BEI
                                 2 November 1994 • November 2nd, 1994
 Date of Listing on the BEI


                                 1.116* Karyawan Employees
 *Jumlah Karyawan
                                 *Berdasarkan karyawan aktif per 31 Desember 2025
  Number of Employees
                                  Based on active employees as of December 31st, 2025



 Modal Dasar
                                 Rp1.500.000.000.000,- IDR
 Authorized Capital

 Modal Disetor dan Ditempatkan
                                 Rp925.000.000.000,- IDR
 Issued and Paid-Up Capital


 Kepemilikan Saham               PT Bumi Serpong Damai Tbk                       92,38%
 Shares Ownership                Masyarakat • Public                              7,62%




38        LAPORAN TAHUNAN 2025
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                                                                                     PT Duta Pertiwi Tbk




Riwayat Singkat Perusahaan
Brief History of the Company
[SEOJK 2.e.3]




Dasar Hukum Pendirian                               Legal Basis of Establishment
PT Duta Pertiwi didirikan dengan Akta No.237        PT Duta Pertiwi was established pursuant to
tanggal 29 Desember 1972 yang dibuat di             Notarial Deed No.237, dated December 29th,
hadapan Mohamad Said Tadjoedin, S.H.,               1972, drawn up before Notary Mohamad Said
Notaris di Jakarta. Akta Pendirian tersebut telah   Tadjoedin, S.H., Notary in Jakarta. The Deed of
memperoleh pengesahan dari Menteri Kehakiman        Incorporation was subsequently ratified by the
RI berdasarkan Surat Keputusan No.Y.A.5/116/20      Minister of Justice of RI by Decree No.Y.A.5/116/20,
tanggal 4 Mei 1973 dan telah diumumkan dalam        dated May 4th, 1973 and published in the State
Berita Negara RI No.94 tanggal 25 November 1986,    Gazette of RI No.94, dated November 25th, 1986,
Tambahan No.1441.                                   Supplement No.1441.


Perubahan Anggaran Dasar [ACGS App A.2.1]           Amendment of Articles of Association
AD Perusahaan telah mengalami beberapa kali         The Company’s AoA has experienced several
perubahan, terakhir berdasarkan Akta Pernyataan     changes. The latest of which was executed in
Keputusan RUPSLB No.1 tanggal 1 Juli 2022, dibuat   accordance with the Deed of EGMS Resolution
oleh Notaris Syarifudin SH, Notaris di Tangerang.   Statement No.1 dated July 1st, 2022, made by
Perubahan ini telah mendapatkan Surat               Notary Syarifudin SH, a Notary in Tangerang.
Persetujuan Perubahan AD dari Menteri Hukum         This amendment has received the Approval
dan Hak Asasi Manusia RI dan telah diterima         Letter of AoA Amendment from the Ministry of
serta dicatat berdasarkan Surat Penerimaan          Law and Human Rights of RI and has been duly
Pemberitahuan Perubahan AD dari Kementerian         acknowledged and recorded, as indicated in the
Hukum dan Hak Asasi Manusia RI No.AHU-0045588.      Letter of Receipt of Notification of AoA Amendment
AH.01.02.Tahun 2022 tanggal 4 Juli 2022.            from the Ministry of Law and Human Rights of RI
                                                    No.AHU-0045588.AH.01.02 dated July 4th, 2022.




                                                                          2025 ANNUAL REPORT         39
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     Profil Perusahaan
     Company Profile




Tentang Perusahaan
About the Company



Perusahaan adalah pengembang properti               The Company is a prominent property
terkemuka yang memiliki portofolio produk           developer with a diverse of product portfolio that
yang luas, mulai dari kota mandiri, residensial,    encompasses townships, residential, commercial
commercial, perkantoran dan arena rekreasi di       spaces, office buildings and recreational arenas
3 kota besar di Indonesia. Perusahaan juga telah    across three major cities in Indonesia. Additionally,
mengembangkan area komersial dengan brand           the Company has successfully developed
ITC yang telah dikenal sampai manca negara.         commercial areas under the renowned ITC brand,
                                                    which enjoys international recognition.

Perusahaan kini memiliki cadangan lahan             Currently, the Company maintains strategic
strategis di Jabodetabek, Semarang dan              land reserves in Greater Jakarta, Semarang and
Surabaya. Perusahaan telah mengembangkan            Surabaya. Among its many projects are Klaska
banyak proyek, termasuk Klaska Residence di         Residence in Surabaya, Aerium Apartment and
Surabaya, Apartment Aerium dan Apartment            Southgate Apartment in Jakarta, Grand Wisata in
Southgate di Jakarta, Grand Wisata di Bekasi,       Bekasi, Kota Wisata and Legenda Wisata in Cibubur,
Kota Wisata dan Legenda Wisata di Cibubur           as well as Taman Banjar Wijaya in Tangerang.
dan Taman Banjar Wijaya di Tangerang.

Sebagai Entitas Anak dari PT Bumi Serpong Damai     As a subsidiary of PT Bumi Serpong Damai Tbk
Tbk (BSDE) -- pengembang properti terunggul,        (BSDE), the leading, largest and most diversified
terbesar dan paling terdiversifikasi di Indonesia   property developer in Indonesia – and as the owner
-- serta sebagai pemilik jejak rekam yang           of a long track record, the Company is uniquely
panjang, Perusahaan secara unik dilengkapi          equipped with advantages that enable it to align
dengan keunggulan untuk membangun proyek-           its projects with market demands. Consequently,
proyeknya sesuai dengan kebutuhan pasar.            each of the Company’s developments features a
Karenanya, semua proyek Perusahaan memiliki         distinctive concept and character, enhancing the
konsep dan karakter yang khas dan menjadi nilai     value for both the location and its users.
tambah baik bagi lokasi maupun penggunanya.

Grand Wisata, misalnya, salah satu dari kota        Grand Wisata is a prime example of the Company’s
mandiri Perusahaan telah menjadi “the next new      township, having emerged as “the next new city”
city” di timur Jakarta. Tahun ini, Grand Wisata     in the eastern of Jakarta. This year, Grand Wisata
merayakan satu tahun dibukanya Living World         celebrated the first year of Living World Grand
Grand Wisata yang menjadi daya tarik untuk wisata   Wisata that becomes the attraction for culinary
kuliner dan hiburan. Kota mandiri Perusahaan        tourism and entertainment. Another notable
lainnya, yaitu Kota Wisata, juga kini menjadi       township, Kota Wisata, has transformed into a
destinasi hiburan dengan dioperasikannya Living     premier entertainment destination, following the
World Kota Wisata, salah satu mal terbesar di       opening of Living World Kota Wisata, one of the
bagian timur Jakarta. Pembukaan ini tentu akan      largest mall in eastern Jakarta. The opening will
meningkatkan daya tarik bagi para penghuni dan      certainly attract tenants and the surrounding
masyarakat di sekitarnya.                           community significantly.

Saham Perusahaan tercatat di BEI (dahulu            The Company’s shares were initially listed on the BEI
BES) pada tanggal 2 November 1994, dengan           (formerly BES) on November 2nd, 1994, under the BEI
kode BEI: DUTI. Pada tahun 2010, Perusahaan         code: DUTI. In 2010, the Company was acquired by
diakuisisi oleh BSDE yang kini memiliki 92,38%      PT Bumi Serpong Damai Tbk (BSDE), which currently
saham Perusahaan dan sisanya dimiliki oleh          holds 92.38% of the Company’s shares, with the
publik. Sebanyak 1.850.000.000 lembar saham         remaining owned by the public. As of December
tercatat pada tanggal 31 Desember 2025 dengan       31st, 2025, a total of 1,850,000,000 shares were listed,
kapitalisasi pasar Rp7,73 triliun.                  resulting in a market capitalization of IDR7.73 trillion.


40       LAPORAN TAHUNAN 2025
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                                                                                           PT Duta Pertiwi Tbk




Visi, Misi dan Nilai-Nilai Kami
Our Vision, Mission and Values
[SEOJK 2.e.4]




Visi, Misi dan Nilai-nilai ini telah ditetapkan melalui   The Vision, Mission and Values were established
Surat Keputusan Direksi dan telah mendapatkan             by the Decree of the Directors and approval of the
persetujuan dari BOC melalui surat No.002/DIR/            Board of Commissioners by letter No.002/DIR/DP/
DP/XII/2015 tanggal 7 Desember 2015. Pada saat            XII/2015 dated December 7th, 2015. At the time this
penyusunan Laporan Tahunan ini, Direksi telah             Annual Report was being written, the Directors had
melakukan kajian atas relevansi Visi, Misi dan            reviewed the relevance of these Vision, Mission and
Nilai-nilai ini dan menilai Visi, Misi dan Nilai-nilai    Values and found it relevant to the Company’s
Perusahaan masih tetap relevan dengan strategi            strategy and operational needs.
dan kebutuhan operasional Perusahaan. [ACGS D.1.4]
[ACGS D.1.5]




               Visi Kami                                           Misi Kami
               Our Vision                                          Our Mission




    Menjadi pemenang dalam pasar yang                        Membangun       untuk    perkembangan
    kompetitif dengan fokus pada kepuasan                    kualitas hidup dan aktivitas ekonomi.
    pelanggan dan profesionalisme.
                                                             To build for the development of the
    To be the winner in the competitive                      quality of life and economic activity.
    market     by   prioritizing  customer
    satisfaction and upholding the highest
    standards of professionalism.




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      Profil Perusahaan
      Company Profile




Nilai-Nilai Kami
Our Values


     INTEGRITAS                    SIKAP POSITIF                KOMITMEN
     Integrity                     Positive Attitude            Commitment




     Bertindak sesuai              Menampilkan perilaku        Melaksanakan pekerjaan
     ucapan, janji sehingga        yang mendukung              dengan sepenuh hati
     dapat menumbuhkan             terciptanya lingkungan      untuk mencapai hasil
     kepercayaan pihak lain.       kerja yang saling           terbaik.
                                   menghargai dan kondusif.
     To put statements or                                      To perform our work
     promises into action so       To display encouraging      wholeheartedly to achieve
     that one can earn the trust   behavior towards the        the best result.
     of our stakeholders.          creation of mutually
                                   respectful and conducive
                                   work environment.




     PERBAIKAN
                                   INOVASI                      SETIA
     BERKELANJUTAN
     Continuous Improvement        Innovation                   Loyalty




     Meningkatkan                  Memunculkan gagasan         Menumbuhkembangkan
     kemampuan atau                baru atau menciptakan       semangat untuk
     kapasitas diri, unit kerja    produk atau alat kerja      mengerti, memahami
     dan organisasi secara         atau sistem kerja baru      dan melaksanakan nilai-
     terus menerus tanpa batas     yang dapat meningkatkan     nilai Perusahaan sebagai
     untuk mencapai hasil          produktivitas dan           bagian dari keluarga besar
     terbaik.                      pertumbuhan Perusahaan.     Perusahaan.

     To continuously enhance       To actively develop         To cultivate the spirit of
     the capability of oneself,    innovative solutions to     knowing, understanding
     the working unit and the      create product or work      and implementing the
     organization to obtain the    tools and system, thereby   Company’s core values as
     best results.                 increasing the Company’s    part of the Company’s big
                                   productivity and growth.    family.




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                                                                                                                                                   PT Duta Pertiwi Tbk



                                                                                        Kegiatan Usaha
                                                                                        Business Activities

Bisnis Kami                                                                             [SEOJK 2.e.5][ACGS C.2.1]


                                                                                        Mengacu pada AD terakhir yang ditetapkan
Our Businesses                                                                          dengan akta No. 1 tanggal 1 Juli 2022, Perusahaan
                                                                                        menjalankan usaha dalam rangka mencapai
                                                                                        maksud dan tujuan tersebut, sebagai berikut:

                                                                                        Referring to the latest AoA as stipulated in the deed
                                                                                        No.1 dated July 1st, 2022, the Company conducts
                                                                                        its operations to achieve its goals and objectives
*) Kegiatan usaha yang dilakukan oleh Perusahaan pada tahun buku 2025
                                                                                        through the following business activities:
  Business activity carried out by the Company in 2025 fiscal year.


                                                                        Konstruksi Bangunan Sipil             Konstruksi Bangunan
Konstruksi Gedung Hunian                                                                                                                              Konstruksi Bangunan Sipil
                                      Penyiapan Lahan                   Lainnya YTDL                          Sipil Elektrikal
Residential Building                                                                                                                                  Jembatan, Jalan Layang,
                                      Site Preparation                  Construction of Other Civil           Construction of Electrical Civil
Construction                                                                                                                                          Fly Over dan Underpass
                                                                        Building Not Included in Others       Building
                                                                                                                                                      Construction of Civil Buildings
                                                                                                                                                      of Bridges, Flyovers and
                                      Konstruksi Gedung Tempat          Penyelesaian Konstruksi               Pembuatan/Pengeboran                    Underpasses Construction
Konstruksi Gedung                     Hiburan dan Olahraga              Bangunan Lainnya                      Sumur Air Tanah
Perkantoran                           Entertainment and Sports          Completion of Other Building          Groundwater Well
Office Building Construction                                                                                                                          Konstruksi Jaringan Irigasi,
                                      Venue Building Construction       Construction                          Construction/Drilling
                                                                                                                                                      Komunikasi dan Limbah
                                                                                                                                                      Lainnya
Konstruksi Gedung Belanja             Konstruksi Gedung Lainnya                                               Konstruksi Bangunan Sipil               Construction of Irrigation,
Shopping Mall Construction            Other Building Construction       Konstruksi Jaringan                   Telekomunikasi untuk                    Communication and Other
                                                                        Irigasi dan Drainase                  Prasarana Transportasi                  Waste Networks
                                                                        Construction of Irrigation and        Construction of Telecom-
Konstruksi Gedung                     Konstruksi Bangunan                                                     munication Civil Buildings for
Penginapan                            Sipil Jalan                       Drainage Network                                                              Konstruksi Bangunan Sipil
                                                                                                              Transportation Facilities
Lodging Building Construction         Road Civil Building                                                                                             Prasarana dan Sarana Sistem
                                      Construction                                                                                                    Pengolahan Limbah Padat,
                                                                                                                                                      Cair dan Gas
                                                                        Konstruksi Bangunan Sipil             Konstruksi Sentral                      Civil Building Construction of
                                                                        Pengolahan Air Bersih                 Telekomunikasi                          Solid, Liquid and Gas Waste
             Konstruksi Construction                                    Civil Building Construction of        Telecommunication                       Treatment System
                                                                        Clean Water Treatment                 Center Construction                     Infrastructure Facilities



              Real Estat Real Estate*                                                                                  Perdagangan Besar atas Dasar
                                                                                                                        Balas Jasa (Fee) atau Kontrak
Real Estat atas Dasar Balas Jasa         Real Estat yang Dimiliki
(fee) atau Kontrak                       Sendiri atau Disewa                                                              Wholesale Trade on a Fee
Real Estate on a Fee or
Contract Basis
                                         Self-owned or Leased
                                         Real Estate
                                                                                                                               or Contract Basis


Kawasan Industri Industrial Estates                                                                                       Taman Rekreasi Recreation Park
                                                                                                                        Aktivitas Taman Bertema atau
                                                                                                                        Taman Hiburan Lainnya                      Taman Rekreasi
                                                                                                                        Theme Park or Other                        Amusement Park
           Dekorasi Decoration                                                                                          Amusement Park Activities


Dekorasi Interior                Dekorasi Eksterior
Interior Decoration              Exterior Decoration
                                                                                                                                      Aktivitas Activities
                                                                                                                        Aktivitas Perawatan dan             Aktivitas Konsultasi
                                                                                                                        Pemeliharaan Taman                  Manajemen Lainnya
  Treatment Air Water Treatment                                                                                         Park Cares and Maintenance          Other Management
                                                                                                                        Service Activities                  Consultancy Activities

Aktivitas Penunjang        Penampungan, Penjernihan
                                                                                                                        Aktivitas Perparkiran di Luar Badan Jalan (off-street parking)
Pengolahan Air             dan Penyaluran Air Minum
                                                                                                                        Off-street Parking Activities
Water Treatment            Collection, Purification and
Support Activities         Distribution of Drinking Water


                                                                                                                               Industri Barang Anyaman
                                                                                                                                 Woven Goods Industry
           Instalasi Installation                                                                                     Industri Barang anyaman        Industri Kerajinan Ukiran dari
                                                                                                                      dari Rotan dan Bambu           kayu bukan mebeller
                                                                                                                      Rattan and bamboo Woven        Woven Goods Industry from
Instalasi Saluran Air            Instalasi Listrik
                                                                                                                      Industry                       Non-Rattan and Bamboo Plants
Plumbing Installation            Electrical Installation


Instalasi Minyak dan Gas         Instalasi Telekomunikasi                                                                        Industri Barang Anyaman dari Tanaman Bukan
Oil and Gas Installation         Telecommunication                                                                                             Rotan dan Bambu
                                 Installation                                                                                         Non-furniture Wood Craft Industry


           Instalasi Konstruksi Lainnya YTDL
 Other Construction Installations Not Included in Others
                                                                                                                           Fasilitas Olahraga
                                                                                                                            Sports Facilities

                                                                                                    Fasilitas Gelanggang /Arena                  Fasilitas Lapangan
              Rumah / Warung Makan F&B                                                              Sport Arena Facilities                       Field Facilities


                                                                                                                      Pengelolaan Fasilitas Olahraga Lainnya
Restoran Restaurant             Rumah/Warung Makan Houses/Food Stalls                                                  Management of Other Sport Facilities




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      Profil Perusahaan
      Company Profile




Wilayah Operasional
Operational Areas
[SEOJK 2.e.6]




Perusahaan memiliki kehadiran yang sangat                    The Company has a very significant presence
signifikan di Jabodetabek, Semarang dan                      in the Greater Area, Semarang and Surabaya.
Surabaya. Ketiga kota besar ini memiliki peran               The three large cities have strategic roles in the
strategis dalam ekonomi dan politik nasional,                national economy and politics, as well as positive
serta pertumbuhan yang positif selama                        growth in multiple years.
bertahun-tahun.



Tersebar di 3 Kota Besar di Indonesia
Diversified Operations Across 3 Major Cities in Indonesia




                                                                • Wisata Bukit Mas
                                                                • ITC Surabaya
       • DP Mall
       • Rooms Inc.
                               Semarang                         • Klaska Residence
                                                                • Landbank (Benowo Industrial Estate)


                                                                      Surabaya




       Greater Jakarta

      • Grand Wisata > Bekasi                                • ITC Mangga Dua > Jakarta
      • Go!Wet Water Park, Grand Wisata > Bekasi             • ITC Cempaka Mas > Jakarta
      • Living World Grand Wisata > Bekasi                   • ITC Roxy Mas > Jakarta
      • Kota Wisata > Cibubur                                • ITC Permata Hijau > Jakarta
      • Living World Kota Wisata > Cibubur                   • ITC Fatmawati > Jakarta
      • ARTOTEL Living World Kota Wisata > Cibubur           • ITC Depok > Depok
      • Legenda Wisata > Cibubur                             • ITC Kuningan > Jakarta
      • Kota Bunga > Bogor                                   • Mall Ambassador > Jakarta
      • Taman Permata Buana > Jakarta                        • Apartment Southgate > Jakarta
      • Taman Banjar Wijaya > Tangerang                      • Apartment Aerium > Jakarta
      • Landbank (Duri Pulo > Jakarta, Jatiasih > Cibubur)   • Sinar Mas Land Plaza Tower 2 & 3 > Jakarta
                                                             • Cashbac (d/h Dimo Space) > Jakarta
                                                             • Sopo Del Tower > Jakarta




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                                                                                                         PT Duta Pertiwi Tbk




Produk-Produk Perusahaan
Company Products
[SEOJK 2.e.5]




                Pendapatan Penjualan                                              Pendapatan Berulang
                Sales Development Revenues                                             Recurring Revenues


                          Gated/Cluster
  City & Urban                                     Vertical                 Office         Malls and             Hotel &
                           Residential
  Development                                     Residential              Buildings      Superblocks            Leisure
                            Revenues



                 Jabodetabek
                                                                Semarang                              Surabaya
                Greater Jakarta




                              • Landed Residential                                      • International Trade Center (ITC)
                              • Shop Houses                                             • Shopping Malls
                              • Industrial Lots                                         • Office Buildings
                              • Commercial Lots                                         • Estate Management
                              • Apartments                                              • Hotels




Untuk memastikan pertumbuhan yang stabil                             To ensure stable and sustainable growth, the
dan berkelanjutan, Perusahaan memilih strategi                       Company has adopted a balanced portfolio
portofolio berimbang antara Penjualan dan                            strategy that combines Sales and Recurring
Pendapatan Berulang. Portofolio berimbang                            Revenues. This approach enables the Company
memampukan Perusahaan untuk mengurangi                               to mitigate risks and minimize performance
dampak risiko dan penurunan kinerja di beberapa                      declines across various managed segments.
segmen yang dikelolanya. Strategi ini telah                          The effectiveness of this strategy has been
terbukti berulang kali mampu memperkokoh                             proven repeatedly, reinforcing the Company’s
posisi Perusahaan sebagai pengembang properti                        position as the largest and most diversified
terbesar dan paling terdiversifikasi.                                property developer in the industry.

Di segmen Pendapatan Penjualan, Perusahaan                           In the Sales Development segment, the
mengembangkan          kota   terpadu,    klaster                    Company develops townships, residential
residensial, maupun produk residensial vertikal.                     clusters and vertical residential products. In
Secara lebih rinci, produk-produk itu terdiri dari                   detail, those products consist of landed houses,
rumah tapak, ruko, kawasan industri, lahan                           shophouses, industrial estates, commercial
komersial dan apartemen.                                             land and apartments.

Sementara di segmen Pendapatan Berulang,                             In the Recurring Revenues segment, the
Perusahaan      memiliki   portofolio   gedung                       Company has a diverse portfolio that includes
perkantoran, mal dan superblok, hotel dan arena                      office buildings, shopping malls, superblocks,
rekreasi. Produk Perusahaan yang telah dikenal                       hotels and recreational arenas. One of the
oleh dunia internasional adalah ITC.                                 Company’s most worldwide known is ITC.

Perusahaan juga meyakini bahwa pertumbuhan                           The Company correspondingly believes that
berkelanjutan harus berdayaguna bukan hanya                          sustainable growth must benefit not only our
bagi internal, melainkan bagi konsumen yang                          internal stakeholders but also the consumers
kami layani. Untuk itu kami selalu memastikan                        we serve. Consequently, we ensure that
produk-produk kami menggunakan bahan baku                            our products are using the finest materials,


                                                                                            2025 ANNUAL REPORT             45
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     Profil Perusahaan
     Company Profile




terbaik, dirancang dan dikerjakan oleh orang-       designed and produced by skilled professionals
orang terbaik dan ditawarkan untuk pasar yang       and targeting the appropriate market for our
sesuai.                                             products.

Produk-produk Perusahaan dapat dibagi menjadi       The Company’s products are divided into five
5 kategori:                                         categories:
1. Perkotaan mandiri                                1. Townships
2. Residensial                                      2. Residential
3. Commercial                                       3. Commercial
4. Manajemen Aset                                   4. Asset Management
5. Retail and Hospitality                           5. Retail and Hospitality

Informasi tentang produk-produk Perusahaan          Details regarding the Company’s products are
tersebut   dapat  ditemukan   pada  bagian          available in the following section.
selanjutnya.



  Perkotaan Mandiri • Township



Bersama       dengan      pemegang       saham      Together with our controlling shareholder, the
pengendalinya, Perusahaan memiliki kompetensi       Company holds competence in developing
dalam pengembangan kota mandiri yang                integrated and modern townships. The
terintegrasi dan modern. Pengalaman dan             experience and competence are equity for the
kompetensi tersebut menjadi modal bagi              Company to keep developing integrated and
Perusahaan untuk terus mengembangkan                modern cities which has taught the Company
kota-kota mandiri yang berkualitas dan              to continue developing townships with quality
terpadu. Grand Wisata dan Kota Wisata yang          and integration. Grand Wisata and Kota Wisata,
dikembangkan oleh Perusahaan menyediakan            developed by the Company, provide comfortable
tempat tinggal, bekerja, bersekolah dan rekreasi    and safe places for residents to live, work, study,
yang nyaman dan aman bagi penghuninya. Kini,        and enjoy recreation. Now, Grand Wisata, with
Grand Wisata dengan konsep “Live, Play, Work”       its “Live, Play, Work” concept, has been crowned
telah didaulat menjadi The Next New City di timur   as The Next New City in East Jakarta. Meanwhile,
Jakarta. Sementara itu, Kota Wisata dengan          Kota Wisata, with the tagline “Embracing Nature,
tagline “Embracing Nature, Better Future” terus     Better Future,” continues to develop in a modern
dikembangkan secara modern dan dinamis,             and dynamic way, while remaining in harmony
namun tetap harmoni dengan alam.                    with nature.

Di semua kota mandiri Perusahaan, penghuni          Throughout     the    Company’s      townships,
menikmati fasilitas hunian, komersial, hiburan      residents enjoy a wide array of comprehensive
dan layanan publik yang lengkap. Area publik        residential, commercial, entertainment and
yang luas dibangun sedemikian rupa untuk            public service amenities. Expansive public
mendukung       pertumbuhan       jasmani    dan    spaces are thoughtfully designed to promote
spiritual keluarga, sekaligus infrastruktur yang    the physical and spiritual development of
lengkap termasuk pusat pendidikan, kesehatan,       families, supported by a robust infrastructure
perbelanjaan dan rekreasi. Infrastruktur kota       including educational, healthcare, shopping
mandiri dibangun secara strategis untuk             and recreational centers. The township’s
menciptakan      keterhubungan,      menawarkan     infrastructure is strategically developed to
penghuninya berbagai alternatif transportasi        enhance connectivity, offering residents a
publik yang nyaman dan memperpendek jarak           variety of convenient public transportation
dan waktu dari dan ke tempat kerja atau studi.      options that minimize both distance and travel
Bahkan kini, Grand Wisata dan Kota Wisata telah     time to work or study. Currently, Grand Wisata
menikmati akses jalan tol dan LRT.                  and Kota Wisata benefit from access to toll
                                                    roads and LRT services.




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                                                                                           PT Duta Pertiwi Tbk




                                       ±1.081 ha                                                ±918 ha
  GRAND WISATA                                        KOTA WISATA
  Bekasi                                              Cibubur
                                       ±464 ha                                                  ±188 ha

            Hak pengembangan • Development Rights   Tanah yang belum dikembangkan • Land for development




  Residensial • Residential



Produk residensial adalah karya Perusahaan          Residential products are the first of the
yang awal, yaitu perumahan di Taman Duta Mas.       Company’s creations, namely housing in
Berbekal pengalaman dan kompetensi yang             Taman Duta Mas. By building on its experience
terus menerus dikembangkannya, Perusahaan           and consistently improving its expertise, the
kini sangat memahami perkembangan gaya              Company has developed a deep understanding
hidup, perbedaan demografi dan psikografi           of the lifestyles, differ demographics and
masyarakat Indonesia yang terus meningkat           psychographics       of   Indonesia’s    growing
jumlahnya. Perusahaan mendesain setiap proyek       population. The Company designs each project
yang sesuai dengan keunikan dan kebutuhan           carefully cater to the unique needs of its target
masing-masing pasar tujuannya, sehingga             market, ensuring prompt absorption and
mampu untuk diserap dengan cepat dan                delivering high value.
bernilai tinggi.

Ruang terbuka, ruang multi fungsi, modern,          The Company continues to develop concepts
luxury dan sustainable terus menjadi konsep         such    as    open    spaces,   multi-functional
yang dikembangkan oleh Perusahaan untuk             environments,      modernity,     luxury    and
menjawab permintaan pasar. Sementara itu,           sustainability in response to market demand.
fitur-fitur yang meningkatkan keselamatan dan       Concurrently, features that prioritize consumer
keamanan konsumen menjadi fitur standar di          safety and security are consistently features in
setiap produk Perusahaan.                           every product.

Di Bekasi, Grand Wisata meluncurkan the Kaia        In Bekasi, Grand Wisata has introduced The
di lokasi paling premium, dekat dengan Central      Kaia, strategically located near the Central
Business District dan pintu tol Jakarta Cikampek.   Business District and the Jakarta-Cikampek toll
Desainnya mencerminkan arsitektur modern            gate. This development features a design that
dengan lanskap alam yang menenangkan.               seamlessly blends modern architecture with
Tahun ini, The Kaia memperkenalkan Giva, yang       a tranquil natural environment. This year, The
didesain oleh arsitek terkemuka Indonesia, bagi     Kaia has unveiled Giva, a project designed by a
kaum urban yang menginginkan keberlanjutan.         renowned Indonesian architect, aimed at urban
Grand Wisata juga menghadirkan Dovia di             residents seeking sustainable living options.
Ladoria dengan gaya Mediterania dan Altara          Additionally, Grand Wisata has launched the
Home dengan konsep ruang terbuka.                   Mediterranean-inspired Dovia di Ladoria and
                                                    the open-air Altara Home.



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Di Cibubur, Kota Wisata pun menawarkan              In Cibubur, Kota Wisata offers a selection of
hunian berkualitas yang asri dan modern dalam       exquisite, contemporary residences within the
klaster-klaster Elvara, Averon, Richmond. Averon    Elvara, Averon and Richmond clusters. The Averon
menawarkan gaya modern kolonial, sementara          cluster features a modern colonial aesthetic,
unit-unit di Richmond dilengkapi dengan lift        whereas Richmond units are equipped with an
dan kolam renang pribadi pertama di Kota            elevator and feature the first private swimming
Wisata Cibubur.                                     pool in Kota Wisata Cibubur.

Pada tahun ini, Perusahaan melalui Entitas          This year, the Company, through its Subsidiary,
Anak mengembangkan Kota Wisata Ecovia,              has unveiled Kota Wisata Ecovia, a 156.50 hectare
sebuah kawasan kota mandiri seluas 156,50 ha        standalone township nestled within Cibubur
di dalam Kota Wisata Cibubur. Nama Ecovia           Tourism City. The name “Ecovia” combines
berasal dari gabungan kata Eco (lingkungan)         the concepts of “Eco” (environment) and “Via”
dan Via (jalan), yang melambangkan perjalanan       (road), symbolizing the journey toward a green
menuju gaya hidup hijau dan berkelanjutan dan       and sustainable lifestyle. The project will feature
akan menghadirkan hunian tapak dan unit ruko        landed housing, shophouses and commercial
serta kavling komersial lengkap dengan fasilitas    lots, all enhanced with community amenities,
komunitas, olahraga, institusi pendidikan dan       sports facilities, educational institutions and
fasilitas penunjang lain.                           other essential infrastructure.

Berikut adalah produk-produk residensial yang       The following outlines the residential products
telah dikembangkan Perusahaan.                      developed by the Company.


                  ±120 ha               ±97 ha                     ±190 ha                   ±156 ha




  TAMAN BANJAR              TAMAN PERMATA             LEGENDA                   KOTA WISATA
  WIJAYA                    BUANA                     WISATA                    ECOVIA
  Tangerang                 Jakarta                   Cibubur                   Cibubur


                                             Luas Area • Area




  Commercial • Commercial



Perusahaan mengembangkan produk-produk              The Company develops a variety of commercial
commercial yang variatif, dari apartemen, ruko,     products, including apartments, shophouses,
kios dan pergudangan. Pengembangan produk-          kiosks and warehouses. The commercial
produk commercial adalah untuk melengkapi           products development is designed to address
kebutuhan konsumen akan area perbelanjaan,          consumer demands in areas such as shopping,
pendidikan, makanan dan minuman dan                 education, food and beverage and beyond,
masih banyak lagi, khususnya di kota mandiri        particularly within the Company’s townships.
Perusahaan. Produk-produk commercial yang           The commercial product development in
dikembangkan di dalam kota mandiri dilengkapi       these townships is complemented by simpler


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                                                                                     PT Duta Pertiwi Tbk




oleh infrastruktur transportasi yang memudahkan     transportation infrastructure, bringing residents
dan mendekatkan penghuni residensial untuk          closer to essential transactions and creating
bertransaksi dan menjadikannya meeting point        vibrant meeting points.
yang seru.

Apartemen juga dikembangkan oleh Perusahaan         The Company also develops apartments to
dengan makin meningkatnya kebutuhan akan            address the growing demand for secure vertical
hunian vertikal yang aman, dekat dengan             housing, close to various public facilities and
berbagai fasilitas publik dan area perbelanjaan,    shopping areas, catering to the needs of young
yang sesuai dengan kebutuhan keluarga muda          families in Greater Jakarta and Surabaya.
di Jabodetabek dan Surabaya.

Kami juga terus meningkatkan daya tarik bagi        We are also committed to enhancing the allure
apartemen yang dikembangkan. Apartment              of our apartment developments. The Aerium
Aerium di Permata Buana kini menjadi apartemen      Apartment in Permata Buana has proudly
ramah anjing peliharaan pertama di Jakarta          become the first dog-friendly apartment in
Barat yang terus mengundang mitra-mitra             West Jakarta, drawing in strategic partners like
strategis seperti klinik hewan dan menjadi tuan     veterinary clinics and organizing a variety of
rumah bagi berbagai acara-acara hewan.              pet-related events.

Berikut beberapa produk commercial yang telah       The following are several commercial products
dikembangkan Perusahaan.                            that have been developed by the Company:


               ±1,8 ha                  ±5,4 ha                 ±15.845 m2                    ±3,2 ha




  APARTMENT                APARTMENT                  DEVANT BUSINESS            KLASKA
  AERIUM                   SOUTHGATE                  LOFT                       RESIDENCE
  Jakarta                  Jakarta                    Kota Wisata Cibubur        Surabaya


                                             Luas Area • Area




  Manajemen Aset • Asset Management



Perusahaan terus mengembangkan produk-              The Company is persistently growing its asset
produk manajemen asetnya secara organik dan         management products, both organic and
non-organik untuk menjaga stabilitas kinerja.       inorganic to ensure performance stability.

Produk-produk manajemen aset Perusahaan             The Company’s asset management products
terdiri atas 2 (dua) bagian besar yaitu gedung      consist of 2 (two) major products, namely office
perkantoran dan ITC.                                buildings and ITC.




                                                                            2025 ANNUAL REPORT      49
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  Gedung Perkantoran • Office Buildings



Gedung      perkantoran       dirancang      untuk           The office buildings are designed to provide a
menawarkan nuansa modern dan state-of-                       modern and state-of-the-art ambiance. The
the-art. Perusahaan memilih pengembangan                     Company opts to develop office buildings in
gedung perkantoran di lokasi-lokasi stratejik dan            strategic and emerging locations to enhance
berkembang untuk meningkatkan daya tarik                     the attractiveness of its occupancy. Research
okupansinya. Kajian identifikasi dan pendekatan              studies and approaches to potential clients
kepada klien potensial, terbukti telah menciptakan           have proven the effectiveness of the Company’s
strategi pemasaran Perusahaan yang efektif.                  marketing strategies.

Gedung-gedung yang dimiliki dan dikelola oleh                The buildings owned and managed by the
Perusahaan antara lain:                                      Company are as follows:



                    ± 71.633 m2                              ± 1.779 m2                           ± 2.754 m2




  SINAR MAS LAND                         CASHBAC                                       SOPO DEL
  PLAZA 2 & 3                            (D/H DIMO SPACE)                              TOWER
  Jakarta                                Jakarta                                       Jakarta


                                  Luas Area/Luas Area yang dapat disewa • Area/Rental Space



  International Trade Center (ITC) • International Trade Center (ITC)



International Trade Center (ITC) dirancang dan               The International Trade Center (ITC) is designed
dikelola sebagai bangunan strata-title untuk                 and operated as a strata-title building to offer
menciptakan pengalaman berbelanja produk-                    a varied and enriching products shopping
produk yang beragam.                                         experience.

Di era online ini, ITC tidak kehilangan relevansinya         In today’s digital era, ITC continues to be a
sebagai penyedia pengalaman berbelanja yang                  key player in delivering exceptional shopping
unik. ITC bekerja keras untuk menghadirkan foot              experiences. ITC diligently focuses on attracting
traffic ke ITC, yang akan meningkatkan transaksi             foot traffic, thereby increasing transaction
bagi para tenant. Kami mengoptimalkan                        volumes for its tenants. We enhance our
penggunaan media sosial, situs web dan aplikasi              efforts through strategic use of social media,
ITC Privilege – yaitu aplikasi yang dirancang untuk          our website and the ITC Privilege application—
mengakomodir informasi tenant dan mendorong                  specifically designed to facilitate tenant
para pemilik agar tidak asing dengan transaksi               information access and promote familiarity
digital.                                                     with digital transactions for the tenants.




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                                                                                 PT Duta Pertiwi Tbk




Kami juga terus bekerjasama dengan berbagai        We maintain ongoing collaborations with a
pihak, termasuk dengan Jakarta Experience          variety of stakeholders, including the Jakarta
Board dan jaringan operator hotel agar para        Experience Board and a network of hotel
pengunjung Jakarta menemukan pengalaman            operators to ensure visitors to Jakarta enjoy a
berbelanja yang tak terlupakan. Kerja sama ke      memorable shopping experience. Our external
luar, kami imbangi dengan kerja sama dengan        collaborations are complemented by strong
para tenant yang tak kalah kuatnya. Para tenant    partnerships with our tenants. These tenants
mendukung program-program kolaborasi ini           enhance our collaborative programs by offering
dengan menyediakan berbagai keuntungan,            various benefits, such as discounts, cashback
termasuk diskon, cashback dan merchandise.         and merchandise.

ITC juga fokus meremajakan penampilannya           ITC is also focusing on rejuvenating itself to
agar selalu terasa dekat dengan konsumen dan       ensure a more modern and consumer-friendly
makin modern. Tahun ini, ITC Mangga Dua yang       atmosphere. This year, ITC Mangga Dua, located
terletak di lantai 5 melakukan renovasi total      on the 5th floor, underwent complete renovation
menjadi area baru bernama “The Circle” dengan      to create a new area called “The Circle,” with
konsep lebih berkarakter mal, modern dan           a more mall-like, modern and Instagramable
Instagramable. Space baru ini dilengkapi pula      concept. It features a diverse food court with
dengan area foodcourt dengan banyak pilihan        a wide array of tenants, alongside a live music
tenant serta amphitheater live music untuk         amphitheater designed for social gatherings.
tempat berkumpul dengan teman.

ITC Permata Hijau berupaya memanfaatkan            In parallel, ITC Permata Hijau aims to optimize
ruang-ruang yang masih tersedia yang dimiliki      its available space, both owned and through
sendiri maupun melalui kerja sama dengan           collaborations with tenants, to engage an urban
tenant untuk menghadirkan urban lifestyle space.   lifestyle environment. Meanwhile, ITC Cempaka
Sementara di ITC Cempaka Mas hadir anchor          Mas is enhancing its appeal through the new
tenant baru Hapimart untuk meningkatkan daya       anchor tenant, Hapimart.
tarik.

International Trade Center yang dimiliki dan       International Trade Centers owned and
dikelola oleh Perusahaan dan Entitas Anak antara   managed by the Company and its Subsidiaries
lain:                                              include:



                 ± 29.664 m2                       ± 14.799 m2                      ± 1.631 m2




  ITC CEMPAKA MAS                   ITC DEPOK                        ITC FATMAWATI

  Jakarta                           Depok                            Jakarta




                                                                       2025 ANNUAL REPORT        51
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      Company Profile




                     ± 15.626 m2                              ± 4.351 m2                               ± 20.719 m2




  ITC KUNINGAN                            MALL                                          ITC MANGGA DUA
                                          AMBASSADOR
  Jakarta                                 Jakarta                                       Jakarta



                     ± 22.917 m2                              ± 5.979 m2                               ± 25.608 m2




  ITC PERMATA                             ITC ROXY MAS                                  ITC SURABAYA
  HIJAU
  Jakarta                                 Jakarta                                       Surabaya


                                   Luas Area/Luas Area yang dapat disewa • Area/Rental Space



     Retail And Hospitality • Retail And Hospitality



Di segmen ini, Perusahaan memiliki serta                      In this segment, the Company owns and
mengelola pusat-pusat perbelanjaan (mal),                     manages shopping centers (malls), hotels and
hotel dan arena rekreasi.                                     recreational arenas.

Perusahaan          mengembangkan      pusat                  The Company develops shopping centers that
perbelanjaan yang mengutamakan kualitas                       prioritize quality of life, stimulate local economic
hidup, mendorong aktivitas perekonomian lokal,                activity and creating active and thriving
serta menciptakan komunitas yang aktif dan                    communities. The Company’s malls target
berkembang. Mal-mal Perusahaan menargetkan                    specifically the younger generation from the
generasi muda dari kelas menengah dan                         middle class which is reflected in the selection
terefleksikan dari pilihan tenant.                            of tenants in each mall.

Perusahaan juga selalu mengusahakan konsep-                   The Company strives to create unique concepts
konsep unik di setiap aset retail and hospitality             in all its retail and hospitality assets. Through its
yang dimilikinya. Melalui anak usahanya,                      subsidiary, the Company held grand opening of
Perusahaan telah melakukan grand opening atas                 the expansion of DP Mall as the first lifestyle mall


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                                                                                   PT Duta Pertiwi Tbk




perluasan DP Mall sebagai lifestyle mall pertama    with green open space concept in Semarang.
dengan konsep ruang terbuka hijau di Semarang.

Hotel yang dikembangkan oleh Perusahaan saat        The hotel currently under management by the
ini adalah Rooms Inc. Dengan konsep unik, Rooms     Company is known as Rooms Inc. Featuring
Inc. terintegrasi dengan DP Mall Semarang,          a unique concept, Rooms Inc. is integrated
menyasar masyarakat di lokasi strategis di          with a shopping mall, targeting the millennial
kota Semarang. Perusahaan bekerja sama              demographic in strategic locations within the
dengan agen perjalanan serta perusahaan-            city of Semarang. The Company partners with
perusahaan yang memiliki tingkat perjalanan         travel agents and corporations that engage in
bisnis yang tinggi.                                 a significant volume of business travel.

Selain itu, ada ARTOTEL Living World, yaitu Hotel   Besides that, the ARTOTEL Living World, a
Butik dengan konsep seni dan gaya hidup yang        boutique hotel features an art and lifestyle
terintegrasi dengan Living World Kota Wisata, di    concept that is integrated with Living World
Kota Wisata Cibubur.                                Kota Wisata in Cibubur.

Perusahaan juga mengelola beberapa arena            The     Company      also   manages     several
rekreasi yang berada di bawah payung segmen         recreational arenas under the Retail and
Retail and Hospitality ini. Arena rekreasi kami     Hospitality segment. Our recreational arena
berupaya menawarkan pengalaman rekreasi             strives to offer young families a safe, exciting
yang aman, menarik dan selalu baru dengan           and always new recreational experience at
harga terjangkau bagi keluarga muda. Berbagai       affordable prices. Various promotional activities
kegiatan promosi dilakukan bersama dengan           are carried out together with online agents and
agen online dan sektor perbankan melalui kartu-     the banking sector through banking cards.
kartu perbankan.

Produk Retail and Hospitality yang dimiliki dan     Retail  and    Hospitality products owned
dikelola oleh Perusahaan dan Entitas Anak           and managed by the Company and its
antara lain:                                        Subsidiaries include:


            ± 50.488 m2               59.742 m2               ± 35.526 m2                ± 7,5 ha




  AEON MALL                 LIVING WORLD             LIVING WORD               GO!WET GRAND
  SOUTHGATE                 KOTA WISATA              GRAND WISATA              WISATA
  Jakarta                   Cibubur                  Bekasi                    Bekasi




                                                                         2025 ANNUAL REPORT         53
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     Company Profile




                               Kamar                               Kamar
                            196 Room                         162   Room                       ± 37.368 m2




                  ARTOTEL LIVING WORLD        ROOMS INC.                         DP MALL
                  KOTA WISATA
                  Cibubur                     Semarang                           Semarang


                                  Luas Area/Luas Area yang dapat disewa • Area/Rental Space




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                                                                                                                   PT Duta Pertiwi Tbk




Struktur Organisasi
Organizational Structure
[SEOJK 2.e.7]




                                  1        Dewan Komisaris
                                           The Board of Commissioners




       2         Komite Audit                                                 3   Komite Nominasi dan Remunerasi
                 Audit Committee                                                  Nomination and Remuneration Committee


                                            4      Direktur Utama
                                                   President Director




                                             6      Wakil Direktur
                                                    Utama
                                                    Vice President
                 Ketua Unit                                                                                         Sekretaris
        5        Internal Audit
                                                    Director                                                  7     Perusahaan
                 Head of Audit                                                                                      Corporate
                 Internal Unit                                                                                      Secretary




             8                        9                       10                        11                           12
                                                           Direktur                                           Direktur
         Direktur                Direktur                                             Direktur
                                                           Manajemen                                          Pengembangan
         Keuangan                Operasional                                          Pemasaran
                                                           Aset                                               Bisnis
         Finance                 Operations                                           Marketing
                                                           Asset                                              Business
         Director                Director                                             Director
                                                           Management                                         Development
                                                           Director                                           Director


                    Accounting                                          ITC             Marketing               Business Initiatives
 Finance                                  Residential
                      & Tax                                                           Communication           Research & Development
                                                                      Office
                   Information                                       Buildings
     Legal                                Commercial
                   Technology
                                                                   Retail and                                        Garis Koordinasi
                                                                   Hospitality                                       Coordination Line


 1           Muktar Widjaja                                   3      Prof. DR. Susiyati                  7        Susan
             Komisaris Utama                                         Bambang Hirawan
             President Commissioner                                  Ketua Chairwoman
             Franciscus Xaverius R.D                                                                     8        Lie Jani Harjanto
             Wakil Komisaris Utama                                   Muktar Widjaja &
             Vice President Commissioner                             Franciscus Xaverius R.D
                                                                     Anggota Member                               Hongky J. Nantung
             Prof. DR. Teddy Pawitra &                                                                   9
             Prof. DR. Susiyati Bambang Hirawan
             Komisaris Independen                             4      Teky Mailoa
             Independent Commissioners                               Direktur Utama
                                                                     President Director                  10       Teky Mailoa

 2           Prof. DR. Teddy Pawitra                          5      Hamina Ali                          11
             Ketua Chairman                                                                                       Hongky J. Nantung
             Rudiantara & Rizal E. Halim                      6      Lie Jani Harjanto                   12       Handoko Wibowo
             Anggota Member




                                                                                                      2025 ANNUAL REPORT               55
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      Profil Perusahaan
      Company Profile




Keanggotaan Asosiasi
Association Membership
[SEOJK 2.e.8] [ACGS B.2.1]




Perusahaan aktif berpartisipasi dalam berbagai    The Company actively engages with multiple
organisasi yang memiliki beragam inisiatif        organizations that undertake diverse initiatives
dalam pengembangan industri dan penerapan         to advance the industry and promote the
keuangan berkelanjutan, yaitu:                    sustainable finance, specifically:

1. Anggota Perusahaan Pendiri Green Building      1. Member of the Founding Companies of Green
   Council Indonesia                                 Building Council Indonesia
2. Persatuan Perusahaan Real Estate Indonesia     2. Indonesian Real Estate Companies Association
3. Masyarakat Konservasi dan Efisiensi Energi     3. Indonesian Energy Efficiency and Conservation
   Indonesia (MASKEEI)                               Society (MASKEEI)
4. Asosiasi   Pengelola    Pusat   Perbelanjaan   4. The Indonesian Shopping Center Management
   Indonesia (APPBI)                                 Association (APPBI)
5. Asosiasi Emiten Indonesia (AEI)                5. Indonesian     Public    Listed   Companies
                                                     Association (AEI)
6. Ikatan Ahli Bangunan Hijau Indonesia (IABHI)   6. Indonesian Green Building Expert Association
                                                     (IABHI)




56        LAPORAN TAHUNAN 2025
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                                                                                                          PT Duta Pertiwi Tbk




Profil Direksi
Profile of the Directors
[SEOJK 2.E.9] [ACGS C.2.5]




    RUPST tahun ini memberhentikan dengan                            This year AGMS respectfully terminated and
    hormat dan mengangkat kembali semua                              reappointed all the members of the Directors,
    anggota     Direksi sehingga tidak   ada                         so that there were no changes in the
    perubahan dalam susunan Direksi yang                             composition of the Company’s Directors from
    terjadi setelah tahun buku 2025 hingga                           the conclusion of the 2025 financial year up to
    diterbitkannya Laporan Tahunan ini, yang                         the publication of this Annual Report, which is
    adalah sebagai berikut:                                          detailed as follows:
    [SEOJK 2.e.9(h)] [SEOJK 2.e.11]




                             1                       2                        3                     4


 Dari kiri ke kanan           1   Hongky Jeffry Nantung                             3   Teky Mailoa
 From left to right :             [Direktur Director]                                   [Direktur Utama President Director]
                              2   Lie Jani Harjanto                                4    Handoko Wibowo
                                  [Wakil Direktur Utama Vice President Director]        [Direktur Director]




Masa jabatan mereka adalah sampai dengan                             Their term of office is until the closing of the AGMS
ditutupnya RUPST untuk tahun buku yang berakhir                      for the financial year ending December 31st, 2029.
pada tanggal 31 Desember 2029.



                                                                                             2025 ANNUAL REPORT               57
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      Company Profile




 Masa Jabatan • Serving period

     [SEOJK 2.e.9.a]                         2025 - 2029

 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment [SEOJK 2.e.9.f(1)]

                 RUPST 19 Juni 2025 AGMS June 19th, 2025



 Menjabat Sejak • Serving Since

                                                     2016

 Kewarganegaraan • Citizenship [SEOJK 2.e.9.d]
                                   Indonesia Indonesian

 Domisili • Domicile
                                                  Jakarta

 Gender
                                                                       TEKY MAILOA
                                           Laki-laki Male              Direktur Utama
                                                                       President Director
 Usia • Age [SEOJK 2.e.9.c]                                            [SEOJK 2.e.9.a]

                                      62 tahun years old



 Riwayat Pendidikan • Education [SEOJK 2.e.9.e]              •   Project Planning and Scheduling di John R.
                                                                 Hundley Inc., Orange County, USA (1990 - 1991)
 •    Master’s Degree in Structure and Construction
                                                                 Project Planning and Scheduling at John R.
      Management, University of Wisconsin, Madison,
                                                                 Hundley Inc., Orange County, USA (1990-1991)
      USA (1990)
 •    Sarjana Teknik Sipil, Universitas Trisakti, Jakarta,
      Indonesia (1987)                                       Rangkap Jabatan • Concurrent Position
                                                             [SEOJK 2.e.9.f(2)]
      Bachelor’s Degree in Civil Engineering, Trisakti
      University, Jakarta, Indonesia (1987)
                                                             • Wakil Presiden Komisaris dan anggota Komite
 Pengalaman Profesional • Professional Experience              Nominasi dan Remunerasi (sejak 2015) PT Bumi
 [SEOJK 2.e.9.f(3)]                                            Serpong Damai Tbk
                                                               Vice President Commissioner and member
 •    Direktur Utama (2016 - sekarang), Wakil Direktur         of Nomination and Remuneration Committee
      Utama (2010 - 2016), Direktur (2006 - 2010) dan          (since 2015) of PT Bumi Serpong Damai Tbk
      Deputy Direktur Treasury/Corporate Planning            • Presiden Direktur PT Pembangunan Deltamas
      PT Duta Pertiwi Tbk (1993 - 1995)                        (sejak 1995)
      President Director (2016 - present), Vice President      Presiden Director of PT Pembangunan Deltamas
      Director (2010 - 2016), Director (2006 - 2010) and       (since 1995)
      Deputy Director Treasury/Corporate Planning of
      PT Duta Pertiwi Tbk (1993 - 1995)                      Hubungan Afiliasi • Affiliation [SEOJK 2.e.9.g]
 •    Wakil Presiden Direktur (2011 - 2013), Komisaris
      (2010 - 2011) dan Direktur (2003 - 2010) PT Bumi
      Serpong Damai Tbk.                                     Hubungan dengan Pemegang Saham Utama/
      Vice     President    Director    (2011   -   2013),   Pengendali:
      Commissioner         (2010      -     2011)    and     Wakil Presiden Komisaris PT Bumi Serpong Damai
      Director of PT Bumi Serpong Damai Tbk                  Tbk dan sebagai Direktur masing-masing di PT
      (2003 - 2010)                                          Paraga Artamida dan PT Ekacentra Usahamaju.
 •    Wakil Presiden Komisaris (2016 - 2024), Presiden       Affiliation with the Major/Controlling Shareholders:
      Direktur (2013 - 2016) dan Wakil Presiden Direktur     Vice President Commissioner of PT Bumi Serpong
      (1995 - 2013) PT Puradelta Lestari Tbk                 Damai Tbk and the Director of PT Paraga Artamida
      Vice President Commissioner (2016-2024),               and PT Ekacentra Usahamaju.
      President Director (2013-2016) and Vice President
      Director (1995-2013) of PT Puradelta Lestari Tbk
 •    Asisten Manajer – Project Planning and Control
                                                             Kepemilikan Saham Langsung dan Tidak Langsung
      Tutor Saliba di Perini Corp., Los Angeles, USA
                                                             • Direct and Indirect Share Ownership [ACGS C.1.3]
      (1991 - 1993)
      Assistant Manager – Project Planning and
      Control Tutor Saliba at Perini Corp., Los Angeles,     Tidak Ada None
      USA (1991-1993)




58          LAPORAN TAHUNAN 2025
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                                                                                                      PT Duta Pertiwi Tbk




Masa Jabatan • Serving period

    [SEOJK 2.e.9.a]                         2025 - 2029

Dasar Hukum Pengangkatan •
Legal Basis of Appointment [SEOJK 2.e.9.f(1)]

                RUPST 19 Juni 2025 AGMS June 19th, 2025


Menjabat Sejak • Serving Since

                                                    2016

Kewarganegaraan • Citizenship [SEOJK 2.e.9.d]
                                  Indonesia Indonesian

Domisili • Domicile
                                                 Jakarta

Gender
                                                                   LIE JANI HARJANTO
                                    Perempuan Female               Wakil Direktur Utama
                                                                   Vice President Director
Usia • Age [SEOJK 2.e.9.c]                                         [SEOJK 2.e.9.a]

                                     59 tahun years old



Riwayat Pendidikan • Education [SEOJK 2.e.9.e]             Hubungan Afiliasi • Affiliation [SEOJK 2.e.9.g]

Sarjana Ekonomi, Universitas Trisakti, Indonesia           Hubungan dengan Pemegang Saham Utama/
(1989)                                                     Pengendali:
Bachelor’s degree in economics, Trisakti University,       Direktur PT Bumi Serpong Damai Tbk
Indonesia (1989)                                           Affiliation with the Major/Controlling Shareholders:
                                                           Director of PT Bumi Serpong Damai Tbk
Pengalaman Profesional • Professional Experience
[SEOJK 2.e.9.f(3)]
                                                           Kepemilikan Saham Langsung dan Tidak Langsung
•    Direktur Utama (2013 - 2016) dan Wakil Direktur       • Direct and Indirect Share Ownership [ACGS C.1.3]
     Utama PT Duta Pertiwi Tbk (2011 - 2013)
     President Director (2013-2016) and Vice President
                                                           Tidak Ada None
     Director of PT Duta Pertiwi Tbk (2011 - 2013)
•    Managing Director –Finance Sinar Mas Energy &
     Mining Division (2009 – 2010)
•    Managing Director-Finance Sinar Mas Forestry
     Division (2001 – 2009)
•    General Manager Property Management Sinar
     Mas Real Estate Divison (1992 – 2001)
•    Controller Manager Sinar Mas Real Estate
     Division (1992)
•    Corporate Internal Audit Manager (1988 – 1992)

Rangkap Jabatan • Concurrent Position
[SEOJK 2.e.9.f(2)]


•    Direktur PT Bumi Serpong Damai Tbk (sejak 2010)
     Director of PT Bumi Serpong Damai Tbk
     (since 2010)
•    Komisaris PT Suryamas Dutamakmur Tbk
     (sejak November 2024)
     Commissioner of PT Suryamas Dutamakmur Tbk
     (since November 2024)




                                                                                             2025 ANNUAL REPORT       59
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      Company Profile




 Masa Jabatan • Serving period

     [SEOJK 2.e.9.a]                             2025 - 2029

 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment [SEOJK 2.e.9.f(1)]

                 RUPST 19 Juni 2025 AGMS June 19th, 2025



 Menjabat Sejak • Serving Since

                                                        2010

 Kewarganegaraan • Citizenship [SEOJK 2.e.9.d]
                                   Indonesia Indonesian

 Domisili • Domicile
                                                 Tangerang

 Gender
                                                                         HONGKY JEFFRY NANTUNG
                                           Laki-laki Male                Direktur
                                                                         Director
 Usia • Age [SEOJK 2.e.9.c]                                              [SEOJK 2.e.9.a]

                                      63 tahun years old



 Riwayat Pendidikan • Education [SEOJK 2.e.9.e]                Rangkap Jabatan • Concurrent Position
                                                               [SEOJK 2.e.9.f(2)]
 Bachelor’s Degree in Engineering, University of
 Wollongong, Australia (1990)                                  •   Presiden Direktur PT Puradelta Lestari Tbk
                                                                   (sejak 2016)
 Pengalaman Profesional • Professional Experience                  President Director of PT Puradelta Lestari Tbk
 [SEOJK 2.e.9.f(3)]                                                (since 2016)
                                                               •   Wakil Presiden Direktur PT Pembangunan
 •    Deputy Director (2003 - 2006) dan General                    Deltamas (sejak 2013)
      Manager PT Duta Pertiwi Tbk (2002 - 2003)                    Vice President Director PT Pembangunan
      Deputy Director (2003 - 2006) and General                    Deltamas (since 2013)
      Manager at PT Duta Pertiwi Tbk (2002 - 2003)
 •    Direktur di PT Bumi Serpong Damai Tbk
      (2011 - 2015)
      Director at PT Bumi Serpong Damai Tbk
      (2011 - 2015)                                            Hubungan Afiliasi • Affiliation [SEOJK 2.e.9.g]
 •    General Manager di PT Excelcomindo Pratama
      (1998 - 2002)                                            Tidak Ada None
      General Manager at PT Excelcomindo Pratama
      (1998 - 2002)                                            Kepemilikan Saham Langsung dan Tidak Langsung
 •    General Manager di Radjawali PDI Wisma Real              • Direct and Indirect Share Ownership [ACGS C.1.3]
      Estate (1997 - 1998)
      General Manager at Radjawali PDI Wisma Real              Tidak Ada None
      Estate (1997 - 1998)




60          LAPORAN TAHUNAN 2025
Page 61
                                                                                                     PT Duta Pertiwi Tbk




Masa Jabatan • Serving period

    [SEOJK 2.e.9.a]                             2025 - 2029

Dasar Hukum Pengangkatan •
Legal Basis of Appointment [SEOJK 2.e.9.f(1)]

                RUPST 19 Juni 2025 AGMS June 19th, 2025



Menjabat Sejak • Serving Since

                                                       2013

Kewarganegaraan • Citizenship [SEOJK 2.e.9.d]
                                  Indonesia Indonesian

Domisili • Domicile
                                                Tangerang

Gender
                                                                        HANDOKO WIBOWO
                                          Laki-laki Male                Direktur
                                                                        Director
Usia • Age [SEOJK 2.e.9.c]                                              [SEOJK 2.e.19.a]

                                     63 tahun years old



Riwayat Pendidikan • Education [SEOJK 2.e.9.e]                Rangkap Jabatan • Concurrent Position
                                                              [SEOJK 2.e.9.f(2)]
Sarjana Ekonomi Jurusan Manajemen, Universitas
Krisnadwipayana, Jakarta, Indonesia (1986)                    Tidak Ada None
Bachelor’s Degree in Economics majoring in
Management from Krisnadwipayana University,
Jakarta, Indonesia (1986)

Pengalaman Profesional • Professional Experience              Hubungan Afiliasi • Affiliation [SEOJK 2.e.9.g]
[SEOJK 2.e.9.f(3)]
                                                              Tidak Ada None
•    Bergabung dengan PT Bumi Serpong Damai Tbk
     (1987-2013)                                              Kepemilikan Saham Langsung dan Tidak Langsung
     Joined PT Bumi Serpong Damai Tbk (1987 - 2013)           • Direct and Indirect Share Ownership [ACGS C.1.3]
•    Analis keuangan di PT Bank Central Asia Tbk
     Financial analyst in PT Bank Central Asia Tbk
                                                              Tidak Ada None




                                                                                           2025 ANNUAL REPORT        61
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     Profil Perusahaan
     Company Profile




Profil Dewan Komisaris
Profile of the Board of Commissioners
[SEOJK 2.e.10][ACGS C.2.5]


 RUPST tahun ini memberhentikan dengan                 This year AGMS respectfully terminated and
 hormat dan mengangkat kembali semua                   reappointed all the members of the BOC, so
 anggota BOC sehingga tidak ada perubahan              that there were no changes in the composition
 pada susunan BOC. Susunan BOC pada saat               of the Company’s BOC from the conclusion of
 Laporan Tahunan ini diterbitkan adalah sebagai        the 2025 financial year up to the publication of
 berikut: [SEOJK 2.e.10(i)] [SEOJK 2.e.11]             this Annual Report, which is detailed as follows:




 Dari kiri ke kanan (berdiri)                           Dari kiri ke kanan (duduk)
 From left to right (standing) :                        From left to right (sitting down) :


 Muktar Widjaja                                         Prof. DR. Teddy Pawitra
 [Komisaris Utama President Commissioner]               [Komisaris Independen Independent Commissioner]
 Franciscus Xaverius R.D                                Prof. DR. Susiyati Bambang Hirawan
 [Wakil Komisaris Utama Vice President Commissioner]    [Komisaris Independen Independent Commissioner]



 Masa jabatan mereka adalah sampai dengan              Their term of office is until the closing of the
 ditutupnya RUPST untuk tahun buku yang                AGMS for the financial year ending December
 berakhir pada tanggal 31 Desember 2029.               31st, 2029.


62        LAPORAN TAHUNAN 2025
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                                                                                                             PT Duta Pertiwi Tbk




Masa Jabatan • Serving period
                                                2025 - 2029
    [SEOJK 2.e.9.a]
Dasar Hukum Pengangkatan •
Legal Basis of Appointment [SEOJK 2.e.10.f(1)]
                RUPST 19 Juni 2025 AGMS June 19th, 2025


Menjabat Sejak • Serving Since
                       Komisaris Utama (2007)
                President Commissioner (2007)
Anggota Komite Nominasi dan Remunerasi (2015)
      Member of Nomination and Remuneration
                             Committee (2015)
Kewarganegaraan • Citizenship [SEOJK 2.e.10.d]
                                     Indonesia Indonesian
Domisili • Domicile
                                                     Jakarta
Gender                                                                    MUKTAR WIDJAJA
                                                                          Komisaris Utama dan Anggota Komite Nominasi dan
                                              Laki-laki Male              Remunerasi
                                                                          President Commissioner and Member of Nomination and
Usia • Age [SEOJK 2.e.10.c]                                               Remuneration Committee
                                         71 tahun years old               [SEOJK 2.e.10.a]




Riwayat Pendidikan • Education [SEOJK 2.e.10.e]                   •   Presiden Komisaris PT Pembangunan Deltamas
Sarjana Administrasi Bisnis, University of Concordia,                 (sejak 2001)
Montreal, Canada (1976)                                               President Commissioner of PT Pembangunan
Bachelor’s degree in Business Administration,                         Deltamas (since 2001)
University of Concordia, Montreal, Canada (1976)                  •   Presiden Komisaris PT Bumi Serpong Damai Tbk
                                                                      (sejak 2007)
Pengalaman Profesional • Professional Experience                      President Commissioner of PT Bumi Serpong Damai
[SEOJK 2.e.10.f(4)]                                                   Tbk (since 2007)
                                                                  •   Wakil Presiden Komisaris PT Sinar Mas Agro
•    Direktur hingga Direktur Utama PT Duta Pertiwi Tbk               Resources and Technology Tbk (SMART) (sejak 2008)
     (1988 – 2007)                                                    Vice President Commissioner of PT Sinar Mas Agro
     Director to President Director of PT Duta Pertiwi Tbk            Resources and Technology Tbk (SMART)
     (1988 – 2007)                                                    (since 2008)
•    Direktur Utama PT Sinar Mas Agro Resources and               •   Direktur Sinarmas Land Ltd. (d/h AFP Properties Ltd.)
     Technology Tbk (SMART) (1992 – 2008)                             (sejak 1997)
     President Director of PT Sinar Mas Agro Resources and            Director of Sinarmas Land Ltd. (d/h AFP Properties
     Technology Tbk (SMART) (1992 – 2008)                             Ltd.) (since 1997)
•    Direktur Utama Golden Agri Resources Ltd (2000 – 2018)       •   Chief Executive Officer Sinarmas Land Ltd. (d/h AFP
     President Director of Golden Agri Resources Ltd                  Properties Ltd.) (sejak 2006)
     (2000 – 2018)                                                    Chief Executive Officer of Sinarmas Land Ltd.
•    Komisaris PT Sinar Mas Multiartha Tbk (1985 – 2005)              (formerly AFP Properties Ltd.) (since 2006)
     Commissioner of PT Sinar Mas Multiartha Tbk                  •   Direktur Eksekutif dan Direktur Utama Golden Agri
•    (1985 – 2005)                                                    Resources Ltd (sejak 2018)
•    Wakil Komisaris Utama PT Dian Swastatika Sentosa Tbk             Executive Director and President Director of Golden
     (2011 – 2013)                                                    Agri Resources Ltd (since 2018)
     Vice President Commissioner of PT Dian Swastatika
     Sentosa Tbk (2011 – 2013)                                    Hubungan Afiliasi • Affiliation [SEOJK 2.e.10.g]
•    Direktur di PT Pabrik Kertas Tjiwi Kimia Tbk (1988 – 2006)
     Director of PT Pabrik Kertas Tjiwi Kimia Tbk (1988 – 2006)   Hubungan dengan Pemegang Saham Utama/
•    Wakil Direktur (1990 – 2005) dan Komisaris                   Pengendali:
     (1988 – 1990) PT Indah Kiat Pulp & Paper Tbk                 Presiden Komisaris PT Bumi Serpong Damai Tbk dan
     Deputy Director (1990 – 2005) and Commissioner               Direktur Sinarmas Land Limited (Singapura)
     (1988 – 1990) of PT Indah Kiat Pulp & Paper Tbk              Affiliation with the Major/Controlling Shareholders:
                                                                  President Commissioner of PT Bumi Serpong
Rangkap Jabatan • Concurrent Position                             Damai Tbk and Director of Sinarmas Land Limited
[SEOJK 2.e.10.f(3)]                                               (Singapore)
•    Presiden Komisaris PT Puradelta Lestari Tbk
                                                                  Kepemilikan Saham Langsung dan Tidak Langsung
     (sejak 2001)
                                                                  • Direct and Indirect Share Ownership [ACGS C.1.3]
     President Commissioner of PT Puradelta Lestari Tbk
     (since 2001)                                                 Tidak Ada None




                                                                                              2025 ANNUAL REPORT                63
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      Profil Perusahaan
      Company Profile




 Masa Jabatan • Serving period
                                              2025 - 2029
     [SEOJK 2.e.9.a]
 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment [SEOJK 2.e.10.f(1)]
                RUPST 19 Juni 2025 AGMS June 19th, 2025




 Menjabat Sejak • Serving Since

                  Wakil Komisaris Utama (2016)
            Vice President Commissioner (2016)
 Anggota Komite Nominasi dan Remunerasi (2015)
       Member of Nomination and Remuneration
                              Committee (2015)

 Kewarganegaraan • Citizenship [SEOJK 2.e.10.d]
                                   Indonesia Indonesian

 Domisili • Domicile
                                                                        FRANCISCUS XAVERIUS R.D
                                                                        Wakil Komisaris Utama dan Anggota Komite Nominasi
                                                                        dan Remunerasi
                                                   Jakarta              Vice President Commissioner and Member of Nomination
                                                                        and Remuneration Committee
 Gender                                                                 [SEOJK 2.e.10.a]

                                            Laki-laki Male

 Usia • Age [SEOJK 2.e.10.c]
                                       72 tahun years old     Rangkap Jabatan • Concurrent Position
                                                              [SEOJK 2.e.10.f(3)]


                                                              Presiden Direktur PT Bumi Serpong Damai Tbk
                                                              (sejak 2013)
 Riwayat Pendidikan • Education [SEOJK 2.e.10.e]
                                                              President Director of PT Bumi Serpong Damai Tbk
 •    Sarjana Teknik Sipil, Jurusan Jalan Raya, Institut      (since 2013)
      Teknologi Bandung, Indonesia (1994)
      Bachelor’s Degree in Civil Engineering, majoring        Hubungan Afiliasi • Affiliation [SEOJK 2.e.10.g]
      in Highway Engineering, Bandung Institute of
      Technology, Indonesia (1994)
 •    Sarjana    Teknik     Sipil, Universitas   Katolik      Hubungan dengan Pemegang Saham Utama/
      Parahyangan, Bandung, Indonesia (1981)                  Pengendali:
      Bachelor’s   Degree       in  Civil   Engineering,      Presiden Direktur PT Bumi Serpong Damai Tbk
      Parahyangan Catholic University, Bandung,               dan sebagai Direktur Utama masing-masing di
      Indonesia (1981)                                        PT Paraga Artamida dan PT Ekacentra Usahamaju
                                                              Affiliation with the Major/Controlling Shareholders:
 Pengalaman Profesional • Professional Experience             President Director of PT Bumi Serpong Damai Tbk
 [SEOJK 2.e.10.f(4)]                                          and the President Director of PT Paraga Artamida
                                                              and PT Ekacentra Usahamaju
 •    Direktur Utama (2010 – 2013), Direktur (2004 – 2010)
      dan Direktur Teknik dan Perencanaan PT Duta
                                                              Kepemilikan Saham Langsung dan Tidak Langsung
      Pertiwi Tbk (1994 – 2004)
                                                              • Direct and Indirect Share Ownership [ACGS C.1.3]
      President Director (2010 – 2013), Director
      (2004 – 2010) and Director of Engineering and
                                                              Tidak Ada None
      Planning of PT Duta Pertiwi Tbk (1994 – 2004)
 •    Komisaris (2011 – 2013) dan Wakil Presiden
      Direktur PT Bumi Serpong Damai Tbk (2010 – 2011)
      Commissioner (2011 – 2013) and Vice President
      Director of PT Bumi Serpong Damai Tbk (2010 – 2011)
 •    General Manager PT Paraga Artamida (1992)
 •    Chief Engineering PT Putra Satria Prima (1986 - 1991)
 •    Koordinator Proyek Sipil PT Indulexco (1979 - 1985)
      Civil Project Coordinator at PT Indulexco
 •    (1979 - 1985)




64         LAPORAN TAHUNAN 2025
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                                                                                                       PT Duta Pertiwi Tbk




Masa Jabatan • Serving period

     [SEOJK 2.e.9.a]                          2025 - 2029

Dasar Hukum Pengangkatan •
Legal Basis of Appointment [SEOJK 2.e.10.f(1)]

                RUPST 19 Juni 2025 AGMS June 19th, 2025



Menjabat Sejak • Serving Since

                      Komisaris Independen (2003)
                        & Ketua Komite Audit (2025)
                Independent Commissioner (2003)
        & Chairman of the Audit Committee (2025)

Pernyataan Independensi • Statement of
Independence [SEOJK 2.e.10.(h)]
                       Telah diperbaharui pada tahun 2025
                                          Renewed in 2025          PROF. DR. TEDDY PAWITRA
Dasar Pengangkatan Perdana • Initial Legal                         Komisaris Independen dan Ketua Komite Audit
                                                                   Independent Commissioner and Chairman of the Audit
Appointment [SEOJK 2.e.10(f)]                                      Committee

         RUPSLB 24 Juni 2003 EGMS on June 24th, 2003               [SEOJK 2.e.10.a][SEOJK 2.g.7]

Kewarganegaraan • Citizenship [SEOJK 2.e.10.d]

                                     Indonesia Indonesian

Domisili • Domicile                                          •   Ketua Komite Audit PT Duta Pertiwi Tbk
                                                                 (2003 - 2011)
                                                  Jakarta        Chairman of the Audit Committee at PT Duta
Gender                                                           Pertiwi Tbk (2003 - 2011)
                                                             •   Ketua Komite Audit PT Sinar Mas Agro Resources
                                            Laki-laki Male       and Technology Tbk (SMART) (2002 - 2010)
Usia • Age [SEOJK 2.e.10.c]                                      Chairman of the Audit Committee at PT Sinar
                                                                 Mas Agro Resources and Technology Tbk
                                        90 tahun years old       (SMART) (2002 - 2010)
                                                             •   Komisaris Independen PT Pabrik Kertas Tjiwi
                                                                 Kimia Tbk (2002 – 2007)
                                                                 Independent Commissioner of PT Pabrik Kertas
                                                                 Tjiwi Kimia Tbk (2002 – 2007)
 Riwayat Pendidikan • Education [SEOJK 2.e.10.e]             •   Komisaris Independen PT Indah Kiat Pulp &
                                                                 Paper Tbk (2002 – 2007)
 •     Doktor bidang Ilmu Ekonomi, Universitas                   Independent Commissioner of PT Indah Kiat
       Airlangga, Surabaya (bekerjasama dengan                   Pulp & Paper Tbk (2002 – 2007)
       Erasmus University, Rotterdam) (1985)                 •   Komisaris Utama Bank Internasional Indonesia
       Doctorate degree in Economics, Airlangga                  (1999 – 2000)
       University, Surabaya (in cooperation with                 President Commissioner of Bank International
       Erasmus University, Rotterdam) (1985)                     Indonesia (1999 – 2000)
 •     Master’s in Business Administration, University       •   Direktur Utama PT Star Engines Indonesia
       of Minnesota, USA (1965)                                  (1984 – 1994)
 •     Sarjana Ekonomi Umum dan Perusahaan,                      President Director of PT Star Engines Indonesia
       Universitas Airlangga, Surabaya (1963)                    (1984 – 1994)
       Bachelor’s Degree in General and Business             •   Guru Besar Luar Biasa, Program Pascasarjana
       Economics, Airlangga University, Surabaya                 Ilmu Manajemen, Fakultas Ekonomi dan Bisnis,
       (1963)                                                    Universitas Indonesia (1990 - 2019)
                                                                 Extraordinary Professor, Master’s Program in
 Pengalaman Profesional • Professional Experience                Management from the Faculty of Economics
 [SEOJK 2.e.10.f(4)]                                             and Business, the University of Indonesia
                                                                 (1990 - 2019)
 •     Ketua Komite Nominasi dan Remunerasi                  •   Direktur Utama PT Lima Satrya Nirwana
       PT Duta Pertiwi Tbk (2015 – 2025)                         (1984 – 1987)
       Chairman of Nomination and Remuneration                   President Director of PT Lima Satrya Nirwana
       Committee at PT Duta Pertiwi Tbk (2015 – 2025)            (1984 – 1987)




                                                                                         2025 ANNUAL REPORT             65
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     Company Profile




 •    Direktur    Utama     PT    German      Motors   Hubungan Afiliasi • Affiliation [SEOJK 2.e.10.g]
      Manufacturing (1979 – 1994)
      President Director for PT German Motors
      Manufacturing (1979 – 1994)                      Hubungan dengan Pemegang Saham Utama/
 •    Direktur Utama PT Star Motors Indonesia          Pengendali:
      (1970 – 1994)                                    Komisaris Independen PT Bumi Serpong Damai Tbk
      President Director of PT Star Motors Indonesia   Affiliation with the Major/Controlling Shareholders:
      (1970 – 1994)                                    Independent Commissioner of PT Bumi Serpong
 •    Direktur PT Gading Mas Surabaya (1966 – 1969)    Damai Tbk
      Director of PT Gading Mas Surabaya
      (1966 – 1969)
 •    Kantor Akuntan Drs. Utomo & Mulia                Kepemilikan Saham Langsung dan Tidak
                                                       Langsung • Direct and Indirect Share Ownership
      (1965 – 1966)
                                                       [ACGS C.1.3]
      Public Accounting Firm Drs. Utomo & Mulia
      (1965 – 1966)
                                                       Tidak Ada None
 Rangkap Jabatan • Concurrent Position
 [SEOJK 2.e.10.f(3)]

 •    Komisaris Independen (sejak 2008) dan Ketua
      Komite Audit (sejak 2025) di PT Bumi Serpong
      Damai Tbk
      Independent Commissioner (since 2008)
      and Chairman of the Audit Committee
      (since 2025) at PT Bumi Serpong Damai Tbk
 •    Komisaris Independen (sejak 2013) dan Ketua
      Komite Audit (sejak 2025) di PT Puradelta
      Lestari Tbk
      Independent Commissioner (since 2013)
      and Chairman of the Audit Committee
      (since 2025) at PT Puradelta Lestari Tbk
 •    Komisaris Independen (sejak 2002) dan Ketua
      Nominasi dan Remunerasi (sejak 2015) di
      PT Sinar Mas Agro Resources and Technology
      Tbk (SMART)
      Independent Commissioner (since 2002) and
      Chairman of Nomination and Remuneration
      Committee (since 2015) at PT Sinar Mas Agro
      Resources and Technology Tbk (SMART)




66        LAPORAN TAHUNAN 2025
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                                                                                                         PT Duta Pertiwi Tbk




Masa Jabatan • Serving period

    [SEOJK 2.e.9.a]                          2025 - 2029

Dasar Hukum Pengangkatan •
Legal Basis of Appointment [SEOJK 2.e.10.f(1)]

                RUPST 19 Juni 2025 AGMS June 19th, 2025


Menjabat Sejak • Serving Since

                   Komisaris Independen (2007) &
    Ketua Komite Nominasi dan Remunerasi (2025)
              Independent Commissioner (2007) &
             Chairwoman of the Nomination and
                Remuneration Committee (2025)

Pernyataan Independensi • Statement of
Independence [SEOJK 2.e.10(h)]
                  Telah diperbaharui pada tahun 2025
                                     Renewed in 2025                  PROF. DR. SUSIYATI BAMBANG HIRAWAN
Dasar Pengangkatan Perdana • Initial Legal                            Komisaris Independen dan Ketua Komite Nominasi dan
                                                                      Remunerasi
Appointment [SEOJK 2.e.10(f)]                                         Independent Commissioner and Chairwoman of the
                                                                      Nomination and Remuneration Committee
           RUPST 15 Juni 2007 AGMS on June 15th, 2007
                                                                      [SEOJK 2.e.10.a][SEOJK 2.g.6]

Kewarganegaraan • Citizenship [SEOJK 2.e.10.d]
                                  Indonesia Indonesian
                                                            Pengalaman Profesional • Professional Experience
Domisili • Domicile                                         [SEOJK 2.e.10.f(4)]

                                                  Jakarta
                                                            •    Ketua Komite Audit PT Sinar Mas Agro Resources
Gender                                                           and Technology Tbk (SMART) (2010 - Juli 2020)
                                                                 Chairwoman of the Audit Committee of PT
                                         Wanita Female           Sinar Mas Agro Resources and Technology Tbk
Usia • Age [SEOJK 2.e.10.c]                                      (SMART) (2010 - July 2020)
                                                            •    Komisaris Independen (2009 - 2013) dan Ketua
                                     79 tahun years old          Komite Audit (2010 - 2013) PT Dian Swastatika
                                                                 Sentosa Tbk
                                                                 Independent Commissioner (2009 - 2013)
                                                                 and       Chairwoman           of      the    Audit
Riwayat Pendidikan • Education [SEOJK 2.e.10.e]                  Committee           (2010       -       2013)    of
[ACGS D.2.22]                                                    PT Dian Swastatika Sentosa Tbk
                                                            •    Komisaris Utama PT Rekayasa Industri (2004 - 2010)
•    Doctor of Philosophy dari School of Public Policy,          President Commissioner of PT Rekayasa
     University of Birmingham, Inggris (1990)                    Industri (2004 - 2010)
     Doctor of Philosophy from School of Public Policy,     •    Komisaris PT Danareksa (2004 - 2008)
     University of Birmingham, England (1990)                    Commissioner of PT Danareksa (2004 - 2008)
•    Master of Social Science (MSc) di bidang               •    Komisaris Perum Perumnas (1999 - 2004)
     Development Administration, University of                   Commissioner of Perum Perumnas
     Birmingham, Inggris (1982)                                  (1999 - 2004)
     Master of Social Science (MSc) in Development          •    Komisaris di PT Pupuk Sriwijaya (1999 - 2004)
     Administration, University of Birmingham,                   Commissioner of PT Pupuk Sriwijaya (1999 - 2004)
     England (1982)                                         •    Deputi Bidang Ekonomi dari Sekretaris Wakil
•    Diploma di bidang Development of Finance,                   Presiden RI (2000 - 2007)
     University of Birmingham, Inggris (1980)                    Deputy for Economics of the Secretary to the
     Diploma in Development of Finance, from                     Vice President of the RI (2000 - 2007)
     University of Birmingham, England (1980)               •    Komisaris PT ASABRI (1993- 2008)
•    Sarjana Ekonomi, Jurusan Ekonomi Perusahaan,                Commissioner of PT ASABRI (1993 - 2008)
     Universitas Indonesia, Jakarta (1972)                  •    Direktur Jenderal Lembaga Keuangan (1998-2000)
     Bachelor of Economics from Faculty of                       General Director of Financial Institution
     Economics, University of Indonesia, Jakarta                 (1998 - 2000)
     (1972)                                                 •    Kepala Biro Analisa Keuangan Daerah
                                                                 (1992 - 1998) di Departemen Keuangan Republik
                                                                 Indonesia
                                                                 Head of Regional Financial Analysis Bureau
                                                                 (1992 - 1998) of the Department of Finance of the RI




                                                                                            2025 ANNUAL REPORT             67
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     Company Profile




 Rangkap Jabatan • Concurrent Position                    Hubungan Afiliasi • Affiliation [SEOJK 2.e.10.g]
 [SEOJK 2.e.10.f(3)]

                                                          Hubungan dengan Pemegang Saham Utama/
                                                          Pengendali:
 •    Komisaris Independen (sejak 2024) dan Ketua
                                                          Komisaris Independen PT Bumi Serpong Damai Tbk
      Komite Audit PT Suryamas Dutamakmur Tbk
                                                          Affiliation with the Major/Controlling Shareholders:
      (sejak 2025)
                                                          Independent Commissioner of PT Bumi Serpong
      Independent Commissioner (since 2024) and
                                                          Damai Tbk
      Chairwoman of the Audit Committee of PT
      Suryamas Dutamakmur Tbk (since 2025)
 •    Komisaris Independen (sejak 2007) dan Ketua         Kepemilikan Saham Langsung dan Tidak
      Komite Nominasi dan Remunerasi PT Bumi              Langsung • Direct and Indirect Share Ownership
                                                          [ACGS C.1.3]
      Serpong Damai Tbk
      Independent Commissioner (since 2007)
      and Chairwomen of Nomination and                    Tidak Ada None
      Remuneration Committee of PT Bumi Serpong
      Damai Tbk
 •    Komisaris Independen PT Puradelta Lestari Tbk
      (sejak 2013)
      Independent Commissioner of PT Puradelta
      Lestari Tbk (since 2013)
 •    Komisaris Independen PT Sinar Mas Agro
      Resources and Technology Tbk (SMART)
      (sejak 2008)
      Independent Commissioner of PT Sinar Mas
      Agro Resources and Technology Tbk (SMART)
      (since 2008)
 •    Guru Besar Tetap Ekonomi dari Fakultas Ekonomi,
      Universitas Indonesia, Jakarta (sejak 2006)
      Professor of Economics from Faculty of Economics,
      University of Indonesia, Jakarta (since 2006)
 •    Pengajar di Fakultas Ekonomi, Universitas
      Indonesia (sejak 1972)
      Lecturer at the Faculty of Economics, University
      of Indonesia (since 1972)




68         LAPORAN TAHUNAN 2025
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                                                                                          PT Duta Pertiwi Tbk




Sumber Daya Manusia
Human Capital


Kami percaya bahwa kekuatan sesungguhnya                   We believe that the true strength of our
dari organisasi ini berasal dari kapabilitas,              organization comes from the capabilities,
semangat dan kolaborasi orang-orang kami.                  passion and collaboration of our people. As a
Sebagai perusahaan beyond-property unggulan,               leading beyond-property developer, our ability
kemampuan kami untuk terus berinovasi dan                  to continuously innovate and create sustainable
menciptakan nilai-nilai yang berkelanjutan                 value is driven by a workforce that embraces
didorong oleh tenaga kerja yang menghidupi                 our core values and shares a unified vision for
nilai-nilai ini kami dan berbagi satu visi akan            the future.
masa depan.

Pada tahun 2025, komitmen kami untuk                       In 2025, our commitment to strengthening
memperkuat human capital makin nyata melalui               human capital is further demonstrated through
pengembangan workplace korporat baru di SML                the development of our new corporate workplace
Campus di BSD City. Didesain dengan lingkungan             at the SML Campus in BSD City. Designed as
yang terintegrasi dan modern, kampus ini                   a modern and integrated environment, the
lebih dari sekedar tempat kerja fisik. Tempat ini          campus represents more than just a physical
mencerminkan ambisi kami untuk membangun                   workspace. It reflects our ambition to build a
ekosistem yang kolaboratif dimana ide-ide                  collaborative ecosystem where ideas can flourish,
bertumbuh, kerjasama tim lintas fungsi didorong            cross-functional teamwork is encouraged and
dan karyawan dimampukan untuk bekerja                      employees are empowered to perform at their
dengan potensi penuh mereka.                               highest potential.

Sejalan dengan strategi jangka panjang kami,               In line with our long-term strategy, we remain
kami tetap fokus untuk membangun tenaga kerja              focused on building a resilient and future-ready
yang tangguh dan siap terhadap masa depan.                 workforce. Through structured talent development
Melalui    program-program            pengembangan         programs, leadership capability initiatives and
talenta yang terstruktur, inisiatif-inisiatif kapabiltas   continuous learning opportunities, we equip our
kepemimpinan dan kesempatan belajar yang                   people with the skills and mindset required to
berkelanjutan, kami melengkapi orang-orang                 navigate an evolving business landscape. At the
kami dengan keterampilan dan cara pikir yang               same time, we actively cultivate emerging leaders
dibutuhkan untuk menavigasi lanskap bisnis                 who will guide the organization forward while
yang terus berubah. Pada saat yang sama, kami              upholding our core values of Integrity, Positive
secara aktif menyemai pemimpin-pemimpin                    Attitude, Commitment, Continuous Improvement,
baru yang akan memimpin organisasi ke                      Innovation and Loyalty. Equally important is our
depannya dengan tetap menjunjung nilai-nilai               dedication to fostering a workplace culture that
kami yaitu Integritas, Sikap Positif, Komitmen,            values inclusivity, well-being and employee
Pengembangan Berkelanjutan, Inovasi dan                    engagement. We believe that when individuals
Kesetiaan. Yang sama pentingnya adalah                     feel respected, supported and inspired, they are
dedikasi kami untuk mengadopsi budaya tempat               empowered to contribute meaningfully to both
kerja yang menghargai inklusivitas, kesejahteraan          the organization’s success and shared growth.
dan keterlibatan karyawan. Kami meyakini
bahwa individu-individu yang merasa dihargai,
didukung dan diinspirasi, juga akan dimampukan
unutk berkontribusi besar kepada keberhasilan
organisasi dan pertumbuhan bersama.




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Kesejahteraan, Pelatihan dan Pengembangan               Our Employees’ Welfare, Competency Training
Kompetensi Karyawan Kami                                and Development
SDM adalah faktor pendorong dan penentu                 Human resources are the driving force and
keberhasilan Perusahaan, sekarang dan di masa           determining factor for the Company’s success,
datang. SDM yang sejahtera dan berkembang               now and in the future.         A prosperous and
akan membuka jalan kami untuk memastikan                thriving workforce will lay the foundation for our
keberlanjutan Perusahaan di industri yang               sustainability in an industry that goes beyond
telah melampaui bisnis properti. Maka, kami             the property business. Consequently, we prioritize
menempatkan Divisi Human Capital di pusat               human resources at the heart of our long-term
strategi jangka panjang kami.                           strategy through our Human Capital Division.

Pengelolaan Human Capital dilakukan melalui             Human Capital engages in structured career
perencanaan karir yang terstruktur dan evaluasi         planning and assesses each employee’s
kinerja masing-masing individu dibandingkan             performance against set targets. Based on
dengan target kinerja yang telah ditetapkan.            these evaluations, the Company establishes
Dari hasil evaluasi, Perusahaan menetapkan              performance-based       compensation        and
kompensasi dan program pelatihan dan                    develops training programs for its employee.
pengembangan karyawan berbasis kinerja.                 Throughout 2025, all employees participated in
Sepanjang    tahun    2025,   100%   karyawan           performance evaluations, each receiving tailored
telah mengikuti evaluasi kinerja dan telah              recommendations.
mendapatkan rekomendasi individual.

Sepanjang tahun 2025, sebanyak 593 topik                Throughout 2025, as many as 593 training topics
pelatihan (2024: 419 topik) telah diselenggarakan       (2024: 419 training topics) had been conducted by
oleh Perusahaan melalui e-learning, in-house            the Company through multiple methods, namely
training, knowledge sharing session, pelatihan          e-learning, in-house training, knowledge sharing
umum dan webinar. Total jumlah peserta adalah           sessions, public trainings and webinars. The total
1.115 orang (2024: 900 orang), sehingga setiap          number of participants was 1,115 people (2024:
karyawan mengikuti rata-rata 15,00 jam pelatihan        900 people), thus, each employee participated
dalam tahun ini (2024:20,79 jam/orang). Untuk           on average 15.00 hours of training this year (2024:
itu, Perusahaan telah berinvestasi sebesar Rp173        20.79 hours/person). To that end, the Company
juta (2024:Rp210 juta).                                 has invested IDR173 million (2024: IDR210 million).


Membangun Kepemimpinan yang Siap akan                   Building Future-Ready Leadership
Masa Depan
Sinar Mas Land terus memperkuat Succession              Sinar Mas Land continued to strengthen
Program       melalui    inisiatif-inisiatif     yang   its Succession Program through internally
dikembangkan secara internal dan ditujukan              developed initiatives aimed at enhancing
pada pengembangan kapabilitas kepemimpinan,             leadership capabilities, organizational resilience
ketangguhan       organisasi      dan        kekuatan   and internal bench strength. The program
talenta internal. Program ini secara sistematis         systematically identifies high-potential talent
mengidentifikasi talenta-talenta berpotensi tinggi      and prepares them for critical leadership
dan mempersiapkan mereka untuk peran-peran              roles, leadership capability development and
kepemimpinan yang kritikal, pengembangan                clearly defined career progression pathways
kapabilitas kepemimpinan dan jalur karir yang           aligned with the Company’s strategic priorities.
didefinisi dengan jelas yang disesuaikan prioritas      The     program      includes   cross-functional
strategis Perusahaan. Program ini mencakup              exposure, senior leadership mentoring, Future
eksposur lintas fungsi, mentoring dari pemimpin         Ready Leader classes and reviewed by Top
senior, kelas-kelas Future Ready Leader dan             Management. These initiatives strengthen
ditinjau oleh Top Management. Inisiatif-inisiatif       the leadership pipeline to support business
ini memperkuat pipeline kepemimpinan untuk              continuity, address future challenges and
mendukung      kontinuitas     bisnis,    menjawab      uphold sound governance. More than 60 senior
tantangan-tantangan        masa       depan       dan   managers have successfully completed the
menjunjung tata kelola yang kuat. Lebih dari 60         first year of the program.
manajer senior berhasil menyelesaikan tahun
pertama dari program ini.



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Melalui pendekatan yang proaktif ini, Perusahaan      Through this proactive approach, the Company
memastikan        kesiapan      kepemimpinan,         ensures leadership readiness, strengthening
memperkuat      stabilitas organisasi      jangka     long-term organizational stability, preserving
panjang, menjaga pengetahuan institusional dan        institutional  knowledge    and     supporting
mendukung pertumbuhan berkelanjutan dalam             sustainable growth in the evolving beyond-
industri beyond-property yang terus berubah.          property industry.


Pengembangan Karakter melalui KomCad 2025             Character Development Through KomCad 2025
Sebagai bagian dari komitmen kami terhadap            As part of our commitment to character
pengembangan karakter dan kontribusi nasional,        development and national contribution, 20 Sinar
20 karyawan Sinar Mas Land berpartisipasi dalam       Mas Land employees participated in the 2025
Program 2025 Komponen Cadangan – Pendidikan           Komponen Cadangan – Basic Military Education
dan Pelatihan Militer Dasar (Komcad) yang             and Training (Komcad) program organized
diadakan oleh Tentara Nasional Indonesia. Pelatihan   by the Indonesian National Armed Forces. The
ini diadakan di Rindam II/ Sriwijaya di Sumatera      training took place at Rindam II/Sriwijaya in South
Selatan dari Agustus hingga September 2025.           Sumatra from August to September 2025.

Program Komponen Cadangan (Komcad)                    The Komponen Cadangan (Komcad) program
merupakan bagian penting dalam sistem                 forms an important part of Indonesia’s national
pertahanan        nasional    Indonesia.   Dengan     defence system. By supporting employee
mendukung         partisipasi   karyawan    dalam     participation in this initiative, we contribute to
inisiatif ini, kami berkontribusi terhadap upaya      the government’s efforts to strengthen national
pemerintah untuk memperkuat ketangguhan               resilience while also fostering leadership qualities
nasional sambil merawat kualitas kepemimpinan         among our people. Through this intensive training
di antara orang-orang kami. Melalui pengalaman        experience, participants cultivate discipline,
pelatihan yang intensif ini, partisipasi menyemai     responsibility, teamwork and a strong sense of
benih disiplin, tanggung jawa, kerja sama dan         patriotism—values that positively shape their
patriotisme yang kuat – nilai-nilai yang secara       social, personal and professional life.
positif membentuk hidup sosial, pribadi dan
profesional mereka.




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Menumbuhkan Keterlibatan, Penghargaan dan               Cultivating Engagement, Recognition and Well-
Kesejahteraan                                           Being
Sepanjang 2025, kami terus memperkuat budaya            Throughout 2025, we continued to reinforce our
yang berpusat pada manusia dengan mendorong             people-centred culture by promoting employee
keterlibatan karyawan, mengenali kontribusi             engagement, recognizing individual contributions
individual dan mendukung kesejahteraan umum             and supporting the overall well-being of our
dari tenaga kerja kami. Melalui sejumlah inisiatif,     workforce. Through a range of initiatives, the
tim Human Capital mendorong karyawan untuk              Human Capital team encourages employees
membangun koneksi yang berarti, berkolaborasi           to build meaningful connections, collaborate
secara efektif dan tumbuh bersama sambil tetap          effectively and grow together while upholding
menjunjung Nilai-nilai kami.                            our Values.

Penghargaan terhadap karyawan tetap menjadi             Employee recognition remained a key focus
fokus utama melalui Employee Appreciation               through the Employee Appreciation Award,
Award, yang diadakan pada Februari. Program             held in February. This program celebrates Best
ini merayakan Karyawan Terbaik dan Pemimpin             Employees and Top Leaders who demonstrate
Unggulan   yang   menunjukkan       kinerja   luar      exceptional performance and exemplify the
biasa dan memberikan contoh nilai-nilai inti            Company’s core values. It also includes the People
Perusahaan. Penghargaan ini termasuk People             Management Excellence Awards, which recognize
Management Excellence Awards, yang memberikan           organizational functions that demonstrate
penghargaan terhadap fungsi-fungsi organisasi           outstanding practices in people management.
yang menunjukkan praktik-praktik luar biasa dalam       By acknowledging these achievements, the
pengelolaan manusia. Dengan penghargaan                 initiative strengthens a culture of appreciation
terhadap pencapaian-pencapaian ini, inisiatif           and motivates employees to continually strive
ini akan memperkuat budaya apresiasi dan                for excellence.
memotivasi karyawan untuk terus berjuang
mencapai keunggulan.




Untuk    makin      memperkuat        pemahaman         To further deepen employees’ understanding
Perusahaan atas enam nilai inti Perusahaan,             of the Company’s six core values, we organized
kami mengadakan Sinar Mas Values Race di                the Sinar Mas Values Race in May and August.
bulan Mei dan Agustus. Melalui interaksi dan            Through interactive, team-based challenges,
tantangan berbasis tim, karyawan didorong untuk         employees were encouraged to translate these
menafsirkan nilai-nilai ini menjadi aksi-aksi praktis   values into practical actions while strengthening
sambil memperkuat kolaborasi lintas tim.                collaboration across teams.

Kami juga terus menumbuhkan budaya kerja yang           We also continued to cultivate a dynamic and
dinamis dan berorientasi pada pembelajaran              learning-oriented workplace culture through
melalui Program Diskusi Kepemimpinan FRIENDS,           the FRIENDS Leadership Talk Program, held in
yang diselenggarakan pada Oktober dan                   October and November. This program served as
November. Program ini menjadi platform bagi             a platform for leaders to share their experiences,


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para pemimpin untuk berbagai pengalaman,                 perspectives and practical insights, encouraging
perspektif, dan wawasan praktis mereka,                  open dialogue and inspiring employees to
mendorong dialog terbuka dan menginspirasi               continuously learn and grow. Through these
karyawan untuk terus belajar dan bertumbuh.              sessions, participants gained valuable leadership
Melalui sesi-sesi ini, partisipan mendapatkan            reflections while reinforcing the application of our
refleksi kepemimpinan yang berharga dengan               Values in their daily professional journey.
terus memperkuat penerapan Nilai-nilai kami
dalam perjalanan profesional mereka.




Dua inisiatif kunci di tahun 2025 makin memperkuat       Two key initiatives in 2025 further strengthened
komitmen kami terhadap keterlibatan dan                  our commitment to employee engagement
kesejahteraan karyawan. Pada bulan Agustus,              and well-being. In August, we organized the
kami menyelenggarakan SML Olympics, acara                SML Olympics, a company-wide sporting
olahraga yang terbuka bagi insan perusahaan              event designed to promote teamwork, foster
yang ditujukan untuk mendorong kerjasama                 camaraderie and encourage a healthy lifestyle
tim, mengadopsi semangat pertemanan dan                  among employees.
mendorong gaya hidup sehat di antara karyawan.

Pada bulan Oktober, kami juga memperkenalkan             In October, we also introduced the Well-Being
program Bantuan Kesejahteran melalui aplikasi            Assistance Program through the WAPS application,
WAPS, yang memberi akses kepada karyawan                 providing employees with access to one-on-
terhadap konsultasi virtual one-on-one dengan            one virtual consultations with professional
psikolog profesional yang berkolaborasi dengan           psychologists in collaboration with Naluri. This
Naluri. Inisiatif ini menawarkan platform confidential   initiative offers a confidential platform where
di mana karyawan dapat mencari bantuan                   employees can seek professional guidance and
profesional dan mendukung kesejahteraan mental           support their mental and emotional well-being.
dan emosi mereka.

Melalui inisiatif ini, kami terus mengadopsi             Through these initiatives, we continue to
lingkungan kerja yang suportif, di mana karyawan         foster a supportive workplace environment
merasa dihargai, terkoneksi dan dimampukan,              where employees feel valued, connected and
berkontribusi pada tenaga kerja yang tangguh             empowered, contributing to a resilient workforce
yang mendukung pertumbuhan jangka panjang                that supports the Company’s long-term growth.
Perusahaan.



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Informasi Jumlah Karyawan [SEOJK 2.e.12]                         Information on Number of Employees
Pada akhir tahun 2025, jumlah karyawan adalah                    At the end of 2025, the number of employees
1.116 orang* (2024: 1.188 orang) dengan komposisi                is 1,166 people* (2024: 1,188 people) with the
sebagai berikut:                                                 following composition:

*) berdasarkan karyawan aktif per 31 Desember 2025
  based on active employees as of December 31st, 2025



Komposisi Karyawan berdasarkan Level Jabatan dan Jenis Kelamin
Composition of Employees Based on Position Level and Gender

                                                                     2025                                       2024
                Level Jabatan
                 Position Level                          Pria                   Wanita               Pria               Wanita
                                                         Male                   Female               Male               Female

 Non Staf                   Non Staff                    246                       22                264                  24

 Staf                       Staff                        378                      280                397                  299

 Manajer                    Manager                      110                       48                 112                 56

 Manajer Senior             Senior Manager                20                        7                 22                   8

 Top Management                                           4                         1                   4                  2

                                          TOTAL                        1.116                                    1.188



Komposisi Karyawan berdasarkan Level Jabatan dan Usia
Composition of Employees based on Position Level and Age

                                                              2025                                            2024
             Level Jabatan
              Position Level                 <30 tahun   30-50 tahun           >50 tahun    <30 tahun       30-50 tahun   >50 tahun
                                             years old    years old             years old   years old        years old     years old

 Non Staf                Non Staff                18           182                68           22              194             70

 Staf                    Staff                    145          399                114          176             422             108

 Manajer                 Manager                  24            91                45           27               85             51

 Manajer Senior          Senior Manager           0             13                12           0                11             16

 Top Management                                   0             0                  5           0                0               6

                                     TOTAL                     1.116                                           1.188




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Komposisi Karyawan berdasarkan Level Jabatan dan Tingkat Pendidikan
Composition of Employees based on Position Level and Education


                                                     2025                                                                   2024
 Level Jabatan
 Position Level       SD         SMP           SMA         Diploma     S1       S2 - S3      SD         SMP           SMA         Diploma       S1        S2 - S3
                     Primary   Junior high   Senior high             Bachelor   Advanced    Primary   Junior high   Senior high               Bachelor    Advanced


Non Staf               7          19           223           13        5           0          8          19           240            15         5            0
Non Staff
Staf Staff             1           5           192           84       367         12          0           6           198            101       378          14

Manajer                0           0            15           16       117         10          0           0            17            18        122          12
Manager
Manajer Senior         0           0             0           0         22          3          0           0             0            0          27           3
Senior Manager
Top Management         0           0             0           0          3          2          0           0             0            0          4            1

             TOTAL                                   1.116                                                                   1.188



Komposisi Karyawan berdasarkan Level Jabatan dan Status Ketenagakerjaan
Composition of Employees based on Position Level and Employment Status


                                                                                2025                                                  2024
              Level Jabatan
               Position Level                                 Permanen                     Kontrak                  Permanen                   Kontrak
                                                              Permanent                    Contract                 Permanent                  Contract

 Non Staf              Non Staff                                     107                     160                          125                        159

 Staf                  Staff                                         435                     226                         439                         261

 Manajer               Manager                                       114                      44                            111                      57

 Manajer Senior        Senior Manager                                14                        11                           19                       11

 Top Management                                                       0                        5                             1                       5

                                              TOTAL                             1.116                                                 1.188




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Informasi Pemegang Saham
Information of the Shareholders
[SEOJK 2.e.13]




Berikut adalah informasi pemegang saham                   The following is the information on the Company’s
Perusahaan pada 31 Desember 2025.                         shareholders on December 31st, 2025.


Komposisi dan Struktur Permodalan
Composition and Structure of Capital


          Uraian            Jumlah Modal (Rp)           Jumlah Saham          Nilai Nominal per Saham (Rp)
        Description          Total Capital (IDR)       Number of Shares       Nominal Value per Share (IDR)

Modal Dasar
                                1.500.000.000.000            3.000.000.000                  500
Authorized Capital


Modal Ditetapkan
dan Disetor                      925.000.000.000             1.850.000.000                  500
Issued and
Paid-up Capital




Komposisi Pemegang Saham [SEOJK 2.e.13.a] [ACGS C.1.1] [ACGS C.1.2]
Composition of the Shareholders


                                                              2025                            2024

                 Nama           Status Pemilik                        Persentase                     Persentase
                 Name            Owner Status         Jumlah                         Jumlah
                                                                     Kepemilikan                    Kepemilikan
                                                      Saham                          Saham
                                                                      Ownership                      Ownership
                                                    Total Shares                   Total Shares
                                                                      Percentage                     Percentage

                                Perseroan
                                Terbatas
 PT Bumi Serpong Damai Tbk                           1.709.013.632       92,38%     1.709.013.632       92,38%
                                Limited Liability
                                Company


 Publik dengan kepemilikan kurang dari 5%            140.986.368          7,62%      140.986.368         7,62%
 Public with less than 5% ownership


                                        TOTAL       1.850.000.000          100%    1.850.000.000          100%




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Kepemilikan Saham oleh Dewan Komisaris dan                 Shareholdings by the Board of Commissioners
Direksi [SEOJK 2.e.14] [ACGS C.1.3]                        and Directors
Anggota BOC dan Direksi tidak memiliki saham,              Members of the BOC and Directors do not own
langsung maupun tidak langsung di Perusahaan               any shares, directly or indirectly, of the Company
per 31 Desember 2025 dan 2024.                             as of December 31st, 2025 and 2024.


Kepemilikan Saham oleh Manajemen Senior                    Shareholdings by the Senior Management
[ACGS C.1.4]
Manajemen senior Perusahaan tidak memiliki                 Senior management of the Company do not own
saham, langsung maupun tidak langsung di                   any shares, directly or indirectly, of the Company
Perusahaan per 31 Desember 2025 dan 2024.                  as of December 31st, 2025 and 2024.


Komposisi Pemegang Saham Perusahaan Berdasarkan Kategori [SEOJK 2.e.15]
The Company’s Shareholders Composition based on Category

                                                              Jumlah Pemegang                    Persentase
 Kategori Pemegang Saham
                                                                          Saham                Kepemilikan
 Shareholders Category
                                                           Number of Shareholders      Ownership Percentage

 PEMODAL NASIONAL          DOMESTIC INVESTORS

 Badan Usaha Tetap         Non Tax Specialized                              381.950                    0,02%
 Khusus Non Tax            Permanent Establishment

 Broker                    Brokerage                                         23.175                    0,00%

 Pemerintah Indonesia Government of Indonesia                                    33                    0,00%

 Individu – Domestik       Individual – Domestic                         6.294.250                     0,34%

 Individu – Asing KITAS Individual – Foreign KITAS                            9.000                    0,00%
 NPWP                   NPWP

 Koperasi                  Cooperative                                     238.400                      0,01%

 Reksadana                 Mutual Fund                                    2.376.800                     0,13%

 Dana Pensiun              Pension Fund                                        7.125                   0,00%

 Perseroan Terbatas        Limited Liability Company                  1.709.225.882                   92,39%
 NPWP                      NPWP

 Yayasan NPWP              Foundation NPWP                                     500                     0,00%

                         Sub Total Pemodal Nasional
                     Sub Total of Domestic Investors                   1.718.557.115                  92,89%

 PEMODAL ASING             FOREIGN INVESTORS

 Individu – Asing          Individual – Foreign                             131.800                     0,01%

 Institusi – Asing         Institution – Foreign                         131.311.085                    7,10%

                            Sub Total Pemodal Asing
                       Sub Total of Foreign Investors                  131.442.885                      7,11%


                                                   TOTAL             1.850.000.000                      100%


                                                                                         Sumber • Source : BAE




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Komposisi Pemegang Saham Utama
Composition of the Majority Shareholders
[SEOJK 2.e.16] [ACGS C.1.1] [ACGS C.1.5]



      Margaretha Natalia Widjaja
     Sebagai Pengendali yang Ditunjuk
        As an Appointed Controller




     Sinarmas Land Limited
          (Singapore)          95,13%



                                        99,99%



      PT Paraga Artamida     40,26%              PT Ekacentra     25,63%            PT Bumi Serpong      1,22%           Masyarakat   32,89%
                                                  Usahamaju                            Damai Tbk                           Public




                                                                PT Bumi Serpong    92,38%                Masyarakat    7,62%
                                                                   Damai Tbk                               Public




                                                                                  PT Duta Pertiwi Tbk




Informasi 20 Pemegang Saham Terbesar Perusahaan
Information of the Top 20 Shareholders of the Company



                                                                                                                                Persentase
 Nama                                                    Status Pemilik                                  Jumlah Saham          Kepemilikan
 Name                                                    Owner Status                                   Number of Shares        Ownership
                                                                                                                                Percentage

                                                         Perseroan Terbatas
 PT Bumi Serpong Damai Tbk                                                                                 1.709.013.632              92,38%
                                                         Limited Liability Company

                                                         Institusi Asing
 Eurotrade Developments Limited                                                                                  77.241.600             4,18%
                                                         Foreign Institution

                                                         Institusi Asing
 Morning Bright Investments Limited                                                                              52.782.167            2,85%
                                                         Foreign Institution

                                                         Individu – Domestik
 Gunawan Widyadi                                                                                                 2.379.000              0,13%
                                                         Individual – Domestic

 Reksa Dana Panin Dana Maksima -                         Reksa Dana                                              2.376.800              0,13%
 910334000                                               Mutual Fund

 SCB SG S/A Bank J.Safra Sarasin                         Institusi Asing
 Ltd., Singapore Branch For Clients                                                                                775.300             0,04%
                                                         Foreign Institution
 A/C

                                                         Individu – Domestik
 Tuty Tjiputra                                                                                                     582.000             0,03%
                                                         Individual – Domestic

                                                         Individu – Domestik
 Beng Nagaruddin                                                                                                   392.500             0,02%
                                                         Individual – Domestic



78          LAPORAN TAHUNAN 2025
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                                                                                     PT Duta Pertiwi Tbk




                                                                                         Persentase
Nama                                   Status Pemilik               Jumlah Saham        Kepemilikan
Name                                   Owner Status                Number of Shares      Ownership
                                                                                         Percentage

                                       Institusi Asing
HSBC Operating Account                                                     381.950             0,02%
                                       Foreign Institution

                                       Institusi Asing
DBS Bank LTD S/A Inclusif Value Fund                                      316.000              0,02%
                                       Foreign Institution

                                       Institusi Asing
Laurencius Djauhari                                                       269.000               0,01%
                                       Foreign Institution

                                       Institusi Asing
Wandi Wijaya                                                               175.200              0,01%
                                       Foreign Institution

                                       Individu – Domestik
Yusdi Abadi                                                               160.000               0,01%
                                       Individual – Domestic

                                       Koperasi
Koperasi Unit Desa Lubuk Alung III                                        135.500               0,01%
                                       Cooperative

                                       Individu – Domestik
Andry Ansjori                                                              120.000              0,01%
                                       Individual – Domestic

                                       Perseroan Terbatas
PT Infiniti Securities                                                     108.750              0,01%
                                       Limited Liability Company

                                       Individu – Domestik
Yuniasari                                                                 103.500               0,01%
                                       Individual – Domestic

                                       Individu – Domestik
Ali Umar                                                                   90.000             0,005%
                                       Individual – Domestic

                                       Individu – Domestik
Haryanto Soelaiman                                                         88.200             0,005%
                                       Individual – Domestic

                                       Institusi Asing
The Northern Trust S/A AVFC                                                87.250             0,005%
                                       Foreign Institution


                                                                              Sumber • Source : BAE




                                                                        2025 ANNUAL REPORT           79
Page 80
      Profil Perusahaan
      Company Profile




                        Struktur Usaha Kelompok
                                     Perusahaan
        Margaretha Natalia Widjaja                                Company’s Business Group Structure
      Sebagai Pengendali yang Ditunjuk
         As an Appointed Controller
                                                                                                                                  [SEOJK 2.e.17][ACGS C.1.5]


     Sinarmas Land Limited     95,13%
          (Singapore)



                                           99,99%   PT Ekacentra                           PT Bumi Serpong
       PT Paraga Artamida      40,26%                Usahamaju         25,63%                 Damai Tbk       1,22%             Masyarakat | Public            32,89%




                                                 PT Bumi Serpong Damai Tbk                                PT Duta Pertiwi Tbk
                                                                                                      ITC Mangga Dua, ITC Cempaka        92,38%*
                                     BSD City Serpong • Bale Tirtawana Bogor • Epicentrum Walk •       Mas, ITC Fatmawati, Roxy Mas
                                    Rasuna Epicentrum (Lot) • The Elements • Lakasantri Surabaya



                                                                                                                       PT Duti Diamond
                                                                                                                        Development                  30%*
                                                            PT Kembangan Permai
                                                                Development                 80%*
                                                             Taman Permata Buana
             Perumahan                                                                                            PT Mitrakarya Multiguna             82%*
                                                                                                                   Benowo • Surabaya (Lot)
             Housing

             Pusat Perbelanjaan                                                                                    PT Mustika Karya Sejati            100%
                                                         PT Itomas Kembangan Perdana                                Taman Permata Buana
             Shopping Mall                                      Apartment Aerium            100%
                                                              Taman Permata Buana
             Gedung Perkantoran                                                                                  PT Pangeran Plaza Utama              100%
             Office Building                                                                                           Kota Bunga • Bogor
                                                          PT Anekagriya Buminusa            100%
                                                             Kota Wisata • Cibubur
             Vacant                                                                                              PT Saranapapan Ekasejati             100%
                                                                                                                       Kota Bunga • Bogor
                                                             PT Kanaka Grahaasri            100%
             Superblock &                                    Kota Wisata • Cibubur                                 PT Perwita Margasakti
             Commercial                                                                                                   ITC Kuningan
                                                                                                                                                      100%

             Berhenti Beroperasi                              PT Mekanusa Cipta             100%                    PT Phinisindo Zamrud
             Ceased Operation                                Kota Wisata • Cibubur                                       Nusantara                  77,48%*
                                                                                                                            ITC Depok
             Apartemen                                          PT Prima Sehati
             Apartment                                       Kota Wisata • Cibubur
                                                                                            100%                 PT Prestasi Mahkota Utama            100%
                                                                                                                    Jatiasih • Cibubur (Lot)

             Waterpark                                       PT Putra Prabukarya            100%                  PT Putra Alvita Pratama          53,52%*
                                                             Kota Wisata • Cibubur                                    Grand Wisata • Bekasi
             Pusat Perbelanjaan
             & Hotel
             Shopping Mall & Hotel                                                                                        PT Putra Tirta Wisata
                                                         Badan Kerjasama Pasar Pagi /                                                                    99,68%*
                                                               ITC Mangga Dua               40%*                      Go!Wet Water Park • Grand Wisata
                                                                                                                                 • Bekasi


                                                           PT Citraagung Tirtajatim                                    PT Panca Lambang Cipta             100%
                                                                  ITC Surabaya
                                                                                            40%*
            Entitas Anak
            Subsidiary
                                                          PT Duta Karya Propertindo                                     PT Sahabat Duta Wisata            40%*
                                                                     Vacant
                                                                                            100%
            Entitas Asosiasi
            Associates                                                                                                 PT Royal Oriental
                                                                                                               Sinar Mas Land Jakarta Tower 2-3      74,11%*
                                                            PT Duta Semesta Mas                                    Cashbac • Sopo Del Tower
            Entitas Ventura                                  Apartment Southgate
                                                                                            100%
            Bersama
            Joint Ventures                                                                                        PT Sahabat Kota Wisata             40%*
                                                         PT Keikyu Itomas Indonesia         10%*
                                                            Southgate • Prime Tower
                                                                                                                 PT Sinarwijaya Ekapratista
                                                                                                               Taman Banjar Wijaya • Tangerang
                                                                                                                                                      100%
 Keterangan • Notes :
 Angka persentase                                            PT Matra Olah Cipta            50%*
                                                               ITC Permata Hijau
 menginformasikan kepemilikan
                                                                                                                   PT Sinarwisata Lestari             100%
 langsung dan tidak langsung,
 kecuali dinyatakan                                         PT Misaya Properindo
 dengan *)                                                 Legenda Wisata • Cibubur
                                                                                            100%
 The number of percentage informs                                                                                  PT Sinarwisata Permai              100%
 direct and indirect ownership,
 unless stated by *)                                        PT Kurniasubur Permai
                                                                  Cibubur (Lot)
                                                                                            100%                        PT Binamaju Mitra Sejati
                                                                                                                       Wisata Bukit Mas • Surabaya
                                                                                                                                                         25,50%*
 *)Kepemilikan Langsung
     Direct Ownership
     [ACGS C.1.2]                                           PT Kurnia Sinergi Mas            51%                  PT Wijaya Pratama Raya
                                                                                                                DP Mall, Rooms Inc. • Semarang     74,00%*




80         LAPORAN TAHUNAN 2025
Page 81
                                                                                                            PT Duta Pertiwi Tbk




Daftar Entitas Anak, Entitas
Asosiasi dan/atau Ventura
Bersama
List of the Subsidiaries, the Associates and/or the Joint Ventures
[SEOJK 2.e.17]




                                                                                                                 Keterangan • Notes :
                                                                                   Angka persentase menginformasikan kepemilikan
                                                                           langsung dan tidak langsung, kecuali dinyatakan dengan *)
Entitas Anak                                                                    The number of percentage informs direct and indirect
                                                                                                       ownership, unless stated by *)
Subsidiaries                                                                              *) Kepemilikan Langsung Direct Ownership



                                                                             Tahun                                    Jumlah Aset
      Nama Perusahaan     Bidang Usaha Proyek               Kepemilikan *) Penyertaan        Status         (dalam Jutaan Rupiah)
No.
      Company Name        Business Sector Project             Ownership       Year           Status                      Total Asset
                                                                            Acquired                                 (In Million IDR)


  1   PT Anekagriya       Real Estate     Kota Wisata,          100%         1996           Beroperasi                      210.061
      Buminusa                            Cibubur                                       Fully Operational

 2    PT Kanaka           Real Estate     Kota Wisata,          100%         1995           Beroperasi                      14.460
      Grahaasri                           Cibubur                                       Fully Operational

 3    PT Mekanusa Cipta   Real Estate     Kota Wisata,          100%         1994           Beroperasi                     925.435
                                          Cibubur                                       Fully Operational

 4    PT Prima Sehati     Real Estate     Kota Wisata,          100%         1995           Beroperasi                     136.299
                                          Cibubur                                       Fully Operational

 5    PT Putra Prabukarya Real Estate     Kota Wisata,          100%         1996           Beroperasi                     145.307
                                          Cibubur                                       Fully Operational

 6    PT Duta Karya       Real Estate               -           100%         1997          Praoperasi                           106
      Propertindo                                                                         Preoperation

 7    PT Duta             Real Estate     Southgate             100%         2005           Beroperasi                   1.682.843
      Semesta Mas                                                                       Fully Operational

 8    PT Itomas           Real Estate     Jakarta               100%         2014           Beroperasi                      891.118
      Kembangan                                                                         Fully Operational
      Perdana

 9    PT Kembangan        Real Estate     Taman Permata         80%*         2005           Beroperasi                     416.402
      Permai                              Buana                                         Fully Operational
      Development

10    PT Kurniasubur      Real Estate     Cibubur,              100%         1996          Praoperasi                    1.476.243
      Permai                              Tanah Kosong                                    Preoperation
                                          Vacant land

 11   PT Kurnia Sinergi   Real Estate     Kota Wisata,          51%*         2024          Praoperasi                    2.818.253
      Mas 1                               Cibubur                                         Preoperation


 12   PT Misaya           Real Estate     Legenda               100%         1997           Beroperasi                       89.314
      Properindo                          Wisata, Cibubur                               Fully Operational


 13   PT Mitrakarya       Real Estate     Benowo,               82%*         2004          Praoperasi                     1.481.299
      Multiguna                           Tanah Kosong                                    Preoperation
                                          Vacant land


14    PT Mustika          Real Estate     Taman Permata         100%         1995           Beroperasi                      49.387
      Karya Sejati                        Buana                                         Fully Operational




                                                                                           2025 ANNUAL REPORT                     81
Page 82
      Profil Perusahaan
      Company Profile




                                                                                      Tahun                                    Jumlah Aset
      Nama Perusahaan     Bidang Usaha Proyek                        Kepemilikan *) Penyertaan        Status         (dalam Jutaan Rupiah)
No.
      Company Name        Business Sector Project                      Ownership       Year           Status                      Total Asset
                                                                                     Acquired                                 (In Million IDR)


15    PT Pangeran Plaza   Real Estate       Kota Bunga,                  100%         1993           Beroperasi                       4.035
      Utama                                 Bogor                                                Fully Operational


16    PT Saranapapan      Real Estate       Kota Bunga,                  100%         1993           Beroperasi                       51.559
      Ekasejati                             Bogor                                                Fully Operational


17    PT Perwita          Superblok         ITC Kuningan                 100%         1993           Beroperasi                      110.783
      Margasakti          Superblock                                                             Fully Operational


18    PT Phinisindo       Property    ITC Depok                        77,48%*        2004           Beroperasi                     107.959
      Zamrud Nusantara    Development                                                            Fully Operational


19    PT Prestasi Mahkota Real Estate       Jatiasih, Cibubur            100%         1993          Praoperasi                       121.229
      Utama                                 Tanah Kosong                                           Preoperation
                                            Vacant land


20    PT Putra Alvita     Real Estate       Grand Wisata               53,52%*        2004           Beroperasi                  2.456.323
      Pratama (PAP)                                                                              Fully Operational


21    PT Panca Lambang    Real Estate       -                            100%         2021       Belum Beroperasi                         60
      Cipta 2                                                                                     No Commercial
                                                                                                     Operation

22    PT Putra Tirta      Water Park        Go!Wet                     99, 68%*       2013           Beroperasi                      46.329
      Wisata 2                              Grand Wisata                                         Fully Operational


23    PT Royal            Gedung            •   Sinar Mas Land          74,11%*       1994           Beroperasi                     756.601
      Oriental            Perkantoran           Jakarta, Tower 2 –                               Fully Operational
                          Office Building       3, Jakarta Pusat
                                            •   Dimo Space
                                                Sopodel Tower

24    PT Sinarwijaya      Real Estate       Taman Banjar                 100%         1990           Beroperasi                      113.262
      Ekapratista                           Wijaya,                                              Fully Operational
                                            Tangerang

25    PT Sinarwisata      Hotel                        -                 100%         1990           Berhenti                          5.533
      Lestari                                                                                       Beroperasi
                                                                                                 Ceased Operation

26    PT Sinarwisata      Hotel                        -                 100%         1993           Berhenti                       149.828
      Permai (SWP)                                                                                  Beroperasi
                                                                                                 Ceased Operation

27    PT Wijaya Pratama   Mall              •   DP Mall,                 74%*         2013           Beroperasi                    1.165.298
      Raya                                      Semarang                                         Fully Operational
                                            •   Rooms Inc. Hotel,
                                                Semarang




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                                                                                                                PT Duta Pertiwi Tbk




Entitas Asosiasi                                                                                                    Keterangan • Notes :
Associates                                                                                     *) Kepemilikan Langsung Direct Ownership



                                                                                 Tahun                                    Jumlah Aset
      Nama Perusahaan           Bidang Usaha    Proyek          Kepemilikan *) Penyertaan        Status         (dalam Jutaan Rupiah)
No.
      Company Name              Business Sector Project           Ownership       Year           Status                      Total Asset
                                                                                Acquired                                 (In Million IDR)



   1 PT Binamaju Mitra          Real Estate     Wisata             25,50%        2010           Beroperasi                      355.298
     Sejati 5                                   Bukit Mas                                   Fully Operational



  2 PT Citraagung Tirta         Property    ITC Surabaya            40%          2004           Beroperasi                       141.259
    Jatim                       Development                                                 Fully Operational



  3 PT Keikyu                   Apartemen       Southgate,          10%          2018           Beroperasi                       192.631
    Itomas                      Apartment       Prime Tower                                 Fully Operational
    Indonesia


  4 PT Matra Olahcipta          Property    ITC Permata Hijau       50%          2002           Beroperasi                      136.296
                                Development                                                 Fully Operational




  5 PT Sahabat                  Mall            Living World,       40%          2019           Beroperasi                    1.526.822
    Duta Wisata 2                               Grand Wisata                                Fully Operational




  6 PT Sahabat                  Mall            Living World,       40%          2019           Beroperasi                    1.966.060
    Kota Wisata 4                               Kota Wisata                                 Fully Operational




Entitas Ventura Bersama
Joint Ventures                                                                                                       Keterangan • Notes :
                                                                                                                 *) Kepemilikan Langsung
                                                                                                                         Direct Ownership



                                                                                 Tahun                                     Jumlah Aset
      Nama Perusahaan           Bidang Usaha    Proyek          Kepemilikan *) Penyertaan        Status          (dalam Jutaan Rupiah)
No.
      Company Name              Business Sector Project           Ownership       Year           Status                       Total Asset
                                                                                Acquired                                  (In Million IDR)



   1 Badan Kerjsama             Property   ITC Mangga Dua           40%          2005           Beroperasi                        19.340
     Pasar Pagi/ITC             Management                                                  Fully Operational
     Mangga Dua



  2 PT Duti Diamond             Real Estate     Apartment           30%          2019          Praoperasi                       289.755
    Development                                                                               Preoperation




Keterangan • Notes :
           1
               [melalui through KSP]
           2
               [melalui through PAP]
           3
               [melalui through SWP]




                                                                                               2025 ANNUAL REPORT                     83
Page 84
         Profil Perusahaan
         Company Profile




Daftar Alamat Perusahaan
dan Entitas Anak
Addresses of the Company and Subsidiaries
[SEOJK 2.e.17]




 No.      Nama Perusahaan               Alamat
          Company Name                  Address


     1    PT Anekagriya Buminusa        Kantor Pusat  Headquarters
                                        Jalan Kalibesar Barat No.8, Jakarta Barat 11230
     2    PT Kanaka Grahaasri            +62 21 690 8684  +62 21 690 7623

   3      PT Mekanusa Cipta             Kantor Cabang  Branch Office
                                        Management Office Ruko Sentra Eropa Block F No.23-24
   4      PT Prima Sehati               Jalan Transyogi Km.6, Kota Wisata, Cibubur, Bogor 16968
                                         +62 21 8493 5050/4848  +62 21 8493 4888
   5      PT Putra Prabukarya

   6      PT Duta Karya Propertindo     ITC Mangga Dua, 5th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                         +62 21 601 9788 (hunting)  +62 21 601 5031


     7    PT Duta Pertiwi Tbk           Kantor Pusat  Headquarters
                                        ITC Mangga Dua, 7-8th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                         +62 21 601 9788 (hunting)  +62 21 601 7039
                                         www.sinarmasland.com, www.dutapertiwi.com

                                        Kantor Cabang  Branch Office
                                        Komplek Mangga Dua Block A7 No.18, Jl. Jagir Wonokromo 100
                                        Surabaya 60244  +62 31 843 7777  +62 31 841 1377

   8      PT Duta Semesta Mas           Rukan Tanjung Mas Raya Block B1 No.32 RT.002/01,
                                        Tanjung Barat Jagakarsa, Jakarta Barat 12530  +62 21 7810 522

   9      PT Itomas Kembangan Perdana   Jalan Pulau Melintang Blok A No.20, RT.006 RW.011, Kel. Kembangan Utara,
                                        Kecamatan Kembangan, Jakarta Barat  +62 21 581 4850

  10      PT Kembangan Permai           Jl. Tanah Abang II No.53, Jakarta Pusat
          Development                    +62 21 384 4157

   11     PT Kurniasubur Permai         ITC Mangga Dua, 7th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                         +62 21 601 9788 (hunting)  +62 21 601 5031

  12      PT Kurnia Sinergi Mas         Management Office Kota Wisata
                                        Ruko Sentra Eropa Blok F 23-24
                                        Jl. Transyogi KM 6, Bogor - 16968




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                                                                                                        PT Duta Pertiwi Tbk




No.   Nama Perusahaan                  Alamat
      Company Name                     Address


 13   PT Misaya Properindo             Kantor Pusat  Headquarters
                                       ITC Mangga Dua, 7-8th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                        +62 21 601 9788 (hunting)  +62 21 601 5031

                                       Kantor Cabang  Branch Office
                                       Legenda Wisata, Jl. Alternatif Transyogi Km.6, Cibubur
                                        +62 21 823 6262  +62 21 823 6363

 14   PT Mitrakarya Multiguna          Wisata Bukit Mas, Club House Colloseum, Jl. Lidah Bukit Mas Timur No.2
                                       Surabaya  +62 31 753 4608

 15   PT Mustika Karya Sejati          Jl. Kalibesar Barat No.8, Jakarta Barat 11230
                                        +62 21 690 8684  +62 21 690 7623

 16   PT Pangeran Plaza Utama          Kantor Pusat  Headquarters
                                       ITC Mangga Dua, 7-8th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
 17   PT Saranapapan Ekasejati          +62 21 601 9788 (hunting)  +62 21 601 5031

                                       Kantor Cabang  Branch Office
                                       Jl. Pacet Kp. Panggung RT.24/ 10, Sukanagalih - Pacet, Cianjur 43253
                                        +62 263 520 186/87  +62 263 515 853

 18   PT Panca Lambang Cipta           Celebration Boulevard Kav.1, Bekasi 17510

 19   PT Perwita Margasakti            Gedung ITC Kuningan, Lantai 10, Jl. Prof. DR. Satrio, Jakarta Selatan 12940
                                        +62 21 576 0688  +62 21 576 0688

20    PT Phinisindo Zamrud Nusantara   ITC Depok, Jl. Dewi Sartika RT.003/014 Depok  +62 21 777 5333

 21   PT Prestasi Mahkota Utama        ITC Mangga Dua, 7th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                        +62 21 601 9788 (hunting)  +62 21 601 5031

22    PT Putra Alvita Pratama          Grand Wisata, Celebration Boulevard Kav.1, Bekasi 17510
                                        +62 21 2908 8000/70  +62 21 2908 8050
23    PT Putra Tirta Wisata

24    PT Royal Oriental                Sinar Mas Land Plaza Jakarta, Tower II, 14th Fl. Jl. MH.Thamrin Kav.51
                                       Jakarta Pusat 10350  + 62 21 230 1441  +62 21 390 2231

25    PT Sinarwijaya Ekapratista       Kantor Pusat  Headquarters
                                       ITC Mangga Dua, 7-8th Fl. Jl. Mangga Dua Raya, Jakarta Utara, 14430
                                        +62 21 601 9788 (hunting)  +62 21 601 7039

                                       Kantor Cabang  Branch Office
                                       Taman Banjar Wijaya, Jl. KH. Hasyim Ashari Km.2, Poris Plawad – Cipondoh
                                       Tangerang  +62 21 554 1906

26    PT Sinarwisata Lestari           Jl.Mangga Dua Raya Jakarta 10730
                                        +62 21 612 8811  +62 21 612 8822

27    PT Sinarwisata Permai            Jl. Jend. Sudirman, Balikpapan 76114
                                        +62 542 420 155  +62 542 420 150

28    PT Wijaya Pratama Raya           Gedung DP Mall, Lt. 3, Jalan Pemuda No.150, Semarang 50132
                                        +62 24 358 3588  +62 24 358 4488




                                                                                          2025 ANNUAL REPORT           85
Page 86
     Profil Perusahaan
     Company Profile




Infomasi Pencatatan Saham
Information on Stock Listing
[SEOJK 2.e.18]




Saham Perseroan tercatat hanya di Bursa Efek                     The Company shares are only traded at Indonesia
Indonesia dengan kode saham DUTI. Berikut                        Stock Exchange with the stock code of DUTI. The
adalah kronologi aksi pencatatan saham                           following is the Company’s stock listing actions.
Perusahaan.



                                                                                                  Harga        Tempat
                                                          Tanggal                            Penawaran      Pencatatan
 Deskripsi                            Tanggal Efektif     Pencatatan        Jumlah Saham             (Rp)       Saham
 Description                          Effective Date      Recording Date      Total Shares       Offering          Place
                                                                                              Price (IDR)      of Stock
                                                                                                            Registration


 Penawaran Saham Umum Perdana
                                      26 September 1994   2 November 1994       25.000.000         3.150
 Initial Public Offering


 Penawaran Umum Terbatas I
 dengan Hak Memesan Efek
                                      24 Maret 1997
 Terlebih Dahulu                                          15 April 1997        693.750.000           725
 Limited Public Offering I
                                      March
                                                                                                                   BES*
 with Preemptive Rights


 Penawaran Umum Terbatas II
 dengan Hak Memesan Efek
                                      5 Juni 2008         19 Juni 2008
 Terlebih Dahulu                                                               462.500.000         1.059
 Limited Public Offering II
                                      June                June
 with Preemptive Rights



*)Telah merger dan menjadi Bursa Efek Indonesia
 Merged and became Indonesian Stock Exchange




Infomasi Pencatatan
Efek Lainnya
Information on Other Securities Listing
[SEOJK 2.e.19]




Selain pencatatan saham, Perusahaan tidak                        Aside from the share listing, the Company does
memiliki pencatatan efek lainnya yang akan                       not have other securities listed that will mature.
jatuh tempo.




86        LAPORAN TAHUNAN 2025
Page 87
                                                                                              PT Duta Pertiwi Tbk




Akuntan Publik
Public Accountant
[SEOJK 2.e.20]




Melalui RUPST tanggal 19 Juni 2025, pemegang              In the AGMS dated June 19th, 2025, the shareholders
saham memberikan wewenang kepada BOC                      authorized the BOC to determine an independent
untuk menentukan Kantor Akuntan Publik                    Public Accounting Firm to do audit on the
independen yang akan melakukan audit atas                 Company’s books for the financial year ending
buku Perusahaan untuk tahun buku yang berakhir            December 31st, 2025.
pada 31 Desember 2025.

BOC, dengan mempertimbangkan rekomendasi                  The BOC, with considerations to recommendation
dari Komite Audit, telah menunjuk Kantor Akuntan          from the Audit Committee, has appointed Mirawati
Publik Mirawati Sensi Idris (An independent               Sensi Idris Public Accounting Firm (An independent
member of Moore Global Network Limited)                   member of Moore Global Network Limited) (“KAP”)
(“KAP”) dengan Benedictus Yuliando sebagai                with Benedictus Yuliando as the Public Accountant
Akuntan Publik (“AP”) untuk melakukan audit               (“AP”) to audit the Company for the financial year
atas Perusahaan untuk tahun buku yang berakhir            ending December 31st, 2025. The appointment
31 Desember 2025. Penunjukkan ini diperkuat               was stipulated in the BOC Circular Decree dated
dengan Surat Keputusan Sirkuler BOC tertanggal            October 16th, 2025. Currently, KAP office address
16 Oktober 2025. Saat ini, KAP beralamat kantor           is located at Intiland Tower, 7th Floor Jalan Jend.
di Intiland Tower, 7th Floor Jalan Jend. Sudirman         Sudirman Kavling 32, Jakarta 10220.
Kavling 32, Jakarta 10220.

Biaya jasa audit atas Laporan Keuangan untuk              The fees for auditing the Financial Statements for
tahun buku yang berakhir pada 31 Desember                 the financial year ending December 31st, 2025 and
2025 dan 2024 adalah sebesar Rp480 juta dan               2024 were IDR480 million and IDR460 million.
Rp460 juta. [ACGS C.6.1]

Selain jasa audit atas Laporan Keuangan, tidak            Apart from the audit services of the Financial
ada jasa lainnya yang diberikan oleh akuntan              Statements, there was no other services rendered
publik termaksud. [ACGS C.6.1]                            by the public accountant.

Informasi mengenai AP dan KAP yang melakukan              The following is the information regarding AP and
audit Perusahaan selama 5 (lima) tahun terakhir           KAP that audited the Company for the last 5 (five)
adalah sebagai berikut:                                   years:

 Tahun Buku      Kantor Akuntan Publik                            Akuntan Publik        Opini
 Fiscal Year     Public Accounting Firm                           Public Accountant     Opinion

                 Mirawati Sensi Idris                                                   Wajar Tanpa Pengecualian
 2025            (An independent member of Moore Global Network   Benedictus Yuliando
                                                                                        Unqualified Opinion
                 Limited)
                 Mirawati Sensi Idris                                                   Wajar Tanpa Pengecualian
 2024            (An independent member of Moore Global Network   Benedictus Yuliando
                                                                                        Unqualified Opinion
                 Limited)
                 Mirawati Sensi Idris                                                   Wajar Tanpa Pengecualian
 2023            (An independent member of Moore Global Network   Leo Susanto
                                                                                        Unqualified Opinion
                 Limited)
                 Mirawati Sensi Idris                                                   Wajar Tanpa Pengecualian
 2022            (An independent member of Moore Global Network   Leo Susanto
                                                                                        Unqualified Opinion
                 Limited)
                 Mirawati Sensi Idris                                                   Wajar Tanpa Pengecualian
 2021            (An independent member of Moore Global Network   Leo Susanto
                                                                                        Unqualified Opinion
                 Limited)




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Lembaga dan/atau Profesi
Penunjang Pasar Modal Selain
AP dan KAP
Capital Market Supporting Institutions and/or Professions
other than AP and KAP
[SEOJK 2.e.21]




                                                                                                           Biaya Jasa
                                  Nama
                                                                                                           Lembaga/Profesi
                   Lembaga/       Lembaga/
                                                                                                           Tahun Buku
 Periode           Profesi        Profesi        Alamat                      Tugas
                                                                                                           Institutional Fees /
 Period            Institution/   Name of        Address                     Duties
                                                                                                           Professional Service
                   Profession     Institution/
                                                                                                           Fees for the Financial
                                  Professional
                                                                                                           Year



 2008 – sekarang      Biro        PT Sinartama   Menara Tekno 7th Floor      Melaksanakan     kegiatan     Rp50-60 juta
       – present   Administrasi   Gunita         Jl. Fachrudin No. 19,       penyimpanan           dan     IDR50-60 million
                      Efek                       Tanah Abang                 pengalihan    hak    atas
                     Share                       Jakarta Pusat 10250         saham          pemegang
                    Registrar                     +62 21 392 2332           saham, menyusun daftar
                                                  +62 21 392 3003           pemegang saham dan
                                                  www.sinartama.co.id       perubahannya         atas
                                                                             permintaan    Perusahaan
                                                                             dan          menyiapkan
                                                                             korespondensi Perusahaan
                                                                             dengan         pemegang
                                                                             saham.

                                                                             Depository and transfer
                                                                             of the shareholders’ share
                                                                             rights duties, prepares the
                                                                             list of shareholders and
                                                                             their changes upon the
                                                                             Company’s request and
                                                                             prepares the Company’s
                                                                             correspondence with the
                                                                             shareholders.


 2001 – sekarang       Bank       PT Kustodian   Indonesia Stock             Menyediakan       jasa        Rp10-15 juta
       – present     Kustodian    Sentral Efek   Exchange Building,          kustodian          dan        IDR10-15 million
                     Custodian    Indonesia      Menara I Lantai 5,          penitipan   efek serta
                       Bank                      Jl. Jend. Sudirman          melakukan pelaksanaan
                                                 Kav. 52-53, Jakarta 12190   pembayaran pokok dan
                                                  +62 21 5299 1099          bunga obligasi.
                                                  +62 21 5299 1199
                                                                             Providing         central
                                                                             custodian and securities
                                                                             depository services as
                                                                             well as bond and coupon
                                                                             payment.




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                                                                                                     Biaya Jasa
                                  Nama
                                                                                                     Lembaga/Profesi
                   Lembaga/       Lembaga/
                                                                                                     Tahun Buku
Periode            Profesi        Profesi        Alamat                  Tugas
                                                                                                     Institutional Fees /
Period             Institution/   Name of        Address                 Duties
                                                                                                     Professional Service
                   Profession     Institution/
                                                                                                     Fees for the Financial
                                  Professional
                                                                                                     Year



2012 – sekarang        Notaris    Syarifudin,    Ruko Lakeshop No. 35,   Menyiapkan         dan      Rp20-30 juta
       – present       Notary     S.H.           Modernland,             membuatkan akta-akta,       IDR20-30 million
                                                 Tangerang, Banten       menghadiri rapat-rapat,
                                                  +62 21 5529 289       sehubungan      dengan
                                                  +62 21 5529 324       kegiatan    Perusahaan
                                                                         dalam pasar modal.

                                                                         Preparing and executing
                                                                         the     deeds,  attending
                                                                         meetings, in accordance
                                                                         with     the   Company’s
                                                                         activities in the capital
                                                                         market.




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Jejak Langkah
Milestones

                               1987 — 1989

                                       Mengawali usaha di bisnis real estat dengan mengembangkan area
                                       komersial Ruko Pangeran Jayakarta dan perumahan Taman Duta Mas,
                                       Jakarta.

                                       Mulai mengembangkan superblok pertama yaitu ITC Mangga Dua,
                                       Jakarta.




                              1990 — 1993

                                       Mulai mengembangkan proyek superblok ITC Roxy Mas.

                                       Mulai mengembangkan proyek perumahan Taman Banjar Wijaya di
                                       Tangerang, Kota Bunga di Bogor dan Taman Permata Buana di Jakarta.

                                       Mulai mengembangkan proyek Hotel Le Grandeur, Balikpapan.




                                                          2013 — 2016

 2002 — 2008                                                   Mengakuisisi 64,25% saham PT Wijaya Pratama
                                                               Raya yang memiliki proyek DP Mall di Semarang.
            Mulai mengembangkan proyek superblok
            ITC Permata Hijau, Jakarta dan ITC Depok.          Plaza BII berubah nama menjadi Sinarmas
                                                               Land Plaza.
            Penerbitan Obligasi Amortisasi Duta Pertiwi
            IV dan Obligasi Duta Pertiwi V masing-             Go!Wet Water Park, Grand Wisata mulai
            masing sebesar Rp500 miliar.                       beroperasi.

            Mulai mengembangkan proyek perumahan
            Grand Wisata, Bekasi.

            ITC Surabaya Mega Grosir dan DP Mall,
            Semarang mulai beroperasi.

            Penambahan Modal dengan HMETD II
            sebanyak 462,50 juta saham dengan harga
            penawaran Rp1.059/saham.




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                                                      1997 — 1998
   1994
                                                           Pemecahan Nilai Nominal Saham 1 : 2.
    Penawaran umum perdana di BES sebanyak 25
    juta saham dengan harga penawaran sebesar              Penerbitan Obligasi Duta Pertiwi II dan
    Rp3.150 /saham.                                        Obligasi Duta Pertiwi III masing-masing
                                                           sebesar Rp500 miliar dan Rp350 miliar.
    Mulai mengembangkan proyek superblok ITC
    Cempaka Mas, Jakarta.                                  Penambahan      Modal    dengan        HMETD
                                                           sebanyak 693,75 juta saham.

                                                           Mulai mengembangkan proyek Mall Mangga
1995 — 1996                                                Dua, Surabaya dan proyek perumahan
                                                           Legenda Wisata, Cibubur.
    Pembagian      saham     bonus   dengan
    perbandingan 4 (empat) saham memperoleh 1
    (satu) saham bonus.

    Penerbitan Obligasi Duta Pertiwi I sebesar
    Rp200 miliar.

    Konversi Obligasi sebanyak 52,50 juta saham.

    Mulai    mengembangkan          proyek     Mall
    Ambassador, superblok ITC Fatmawati, gedung
    perkantoran Plaza BII dan Kota Wisata, Cibubur.




2017 — 2020                                              2024

    Mulai mengembangkan proyek Apartemen                   Topping off Hotel ARTOTEL Kota Wisata.
    Southgate di Jakarta Selatan.
                                                           Topping off DP Mall Expansion Semarang.
    Pembentukan  usaha     patungan     untuk
    membangun mall di Grand Wisata, Bekasi.

    Pembentukan usaha patungan PT Duti                   2025
    Diamond Development untuk membangun
    apartemen di kawasan ITC Fatmawati.                    •    Grand opening Living World Kota Wisata.
                                                           •    Grand Opening DP Mall Expansion
    Penghentian operasional Hotel Le Grandeur                   Semarang
    Mangga Dua dan Hotel Le Grandeur                       •    Grand Opening Living World Grand
    Balikpapan.                                                 Wisata Bekasi
                                                           •    Kapitalisasi pasar per 31 Desember 2025
                                                                mencapai Rp7,73 triliun.
2021 — 2023

    Pengambilalihan  saham           PT     Itomas
    Kembangan Perdana.

    Grand Opening AEON Mall Tanjung Barat di
    Southgate Apartment.



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Jejak Langkah
Milestone

                                1987 — 1989

                                        Commenced operations in the real estate business by developing the
                                        commercial area Ruko (shophouses) in Pangeran Jayakarta and the
                                        Taman Duta Mas residential project in Jakarta.

                                        Commenced operations of its first superblock project, ITC Mangga Dua,
                                        Jakarta.




                               1990 — 1993

                                        Initiated development of the superblock project of ITC Roxy Mas, Jakarta.

                                        Initiated the development of the residential project of Taman Banjar
                                        Wijaya in Tangerang, Kota Bunga in Bogor and Taman Permata Buana
                                        in Jakarta.

                                        Initiated development of hotel operations of Le Grandeur, Balikpapan.




                                                           2013 — 2016

 2002 — 2008                                                      Acquired 64.25% shares of PT Wijaya Pratama
                                                                  Raya which owns the DP Mall project in
            Initiated the development of the superblock           Semarang.
            project of ITC Permata Hijau, Jakarta and
            ITC Depok.                                            Plaza BII changed its name to Sinarmas Land
                                                                  Plaza.
            Duta Pertiwi IV and Duta Pertiwi V Bond
            Issuance of IDR500 billion respectively.              Commenced operations of Go!Wet Water
                                                                  Park, Grand Wisata.
            Initiated the development of the residential
            project of the Grand Wisata project in
            Bekasi.

            Commenced operations of ITC Surabaya
            Mega Grosir and DP Mall, Semarang.

            PMTHMETD II of 462.50 million shares with an
            offering price of IDR1,059 /share.




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                                                       1997 — 1998
   1994
                                                            Stock Split 1:2.
    Initial Public Offering in Surabaya Stock
    Exchange of 25 million shares with the offering         Duta Pertiwi II and Duta Pertiwi III Bond Issuance
    price of IDR3,150 / share.                              of IDR500 billion and IDR350 billion respectively.

    Initiated development of the superblock                 Offering of Shares with Preemptive Right of 693.75
    project of ITC Cempaka Mas, Jakarta.                    million shares.

                                                            Commenced the project of Mall Mangga Dua,
                                                            Surabaya and the residential project of Legenda
1995 — 1996                                                 Wisata, Cibubur.

    Distribution of bonus shares with the ratio of
    four shares to get one bonus share (4:1).

    Duta Pertiwi I Bond Issuance of IDR200 billion.

    Convertible Bond in the amount of 52.50 million
    shares.

    Started development of Mall Ambassador,
    ITC Fatmawati superblock, Plaza BII office
    building and Kota Wisata Cibubur.




2017 — 2020                                               2024

    Initiated the development of the Southgate              Topping off Hotel ARTOTEL Kota Wisata.
    Apartment in South Jakarta.
                                                            Topping off DP Mall Expansion Semarang.
    Establishment of a joint venture to build a mall
    at Grand Wisata, Bekasi.

    Establishment of a joint venture PT Duti Diamond      2025
    Development to develop apartments in the ITC
    Fatmawati area.                                         •    Grand opening of Living World Kota Wisata.
                                                            •    Grand Opening of DP Mall Expansion
    The cessation operations of Le Grandeur                      Semarang
    Mangga Dua Hotel and Le Grandeur                        •    Grand Opening of Living World Grand
    Balikpapan Hotel.                                            Wisata Bekasi
                                                            •    Market capitalization as of December 31st,
                                                                 2025 reached IDR7.73 trillion.
2021 — 2023

    Share acquisition of PT Itomas Kembangan
    Perdana.

    Grand Opening of AEON Mall Tanjung Barat in
    Southgate Apartment.



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Peristiwa Penting
Event Highlights




16                                                           24
                 Kembali menghadirkan Program Move                         Menghadirkan Giva, hunian di kawasan
                 in Quickly 2025 yang menawarkan                           premium The Kaia, Grand Wisata Bekasi.
                 ±1.350 unit dalam 3 periode. Berbagai                     Giva, yang mengusung “Elevate Living”,
Januari          promo yang menyertainya termasuk            Januari       didesain oleh Stairs Architect by Stave
January          bebas BPHTB, bebas biaya KPA hingga         January       Handoko, salah satu arsitek terkemuka
                 2,5%, bebas IPL hingga 1 tahun, voucher                   di Indonesia dan dilengkapi dengan
                 furniture hingga 10%, voucher elektronik                  berbagai fitur ramah lingkungan dan
                 hingga 4%, hadiah konsumen hingga                         teknologi canggih, termasuk panel
                 3,5%, serta double lucky draw.                            surya dari SUN Terra yang menghemat
                                                                           konsumsi listrik.
                 The Move in Quickly 2025 program
                 is back, offering approximately 1,350                     Introducing Giva, a residence in the
                 units across three periods. Various                       premium area of ​​The Kaia, Grand Wisata
                 promotions include free BPHTB (land                       Bekasi. Giva, which carries the concept
                 acquisition cost), free mortgage fees                     of “Elevate Living,” was designed by
                 of up to 2.5%, free IPL (living loan) for                 Stairs Architect by Stave Handoko, one
                 up to 1 year, furniture vouchers of up                    of Indonesia’s leading architects, and
                 to 10%, electronic vouchers of up to 4%,                  is equipped with various eco-friendly
                 consumer prizes of up to 3.5%, and a                      features and advanced technology,
                 double lucky draw.                                        including solar panels from SUN Terra
                                                                           that save electricity consumption.




04
                 Menghadirkan Richmond, kawasan hunian premium terbaru di jantung Kota Wisata Cibubur. Tiap
                 unit rumah Richmond memiliki arsitektur modern yang mengedepankan gaya hidup elegan dan
                 eksklusif bagi para penghuninya dan dilengkapi courtyard garden yang tertata rapih untuk jogging.
Februari
February
                 Introducing Richmond, a new premium residential area in the heart of Kota Wisata Cibubur. Each
                 Richmond home features modern architecture that emphasizes an elegant and exclusive lifestyle
                 for its residents, complete with a neatly landscaped courtyard garden for jogging.




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22
           Grand opening Living World Grand Wisata yang menghadirkan lebih dari 250 tenant. Acara ini
           dihadiri oleh Wakil Bupati Bekasi dan mendapat apresiasi dari Bupati Bekasi.
Februari
           The grand opening of Living World Grand Wisata, featuring over 250 tenants, was attended by
February   the Deputy Regent of Bekasi and received praise from the Regent.




26                                                    15
           Grand ITC Permata Hijau berkolaborasi                 Grand Wisata Bekasi menghadirkan
           dengan       Sofintravel     Uzbekistan,              klaster  Altara,   hunian   modern
           menyelenggarakan Patih Indo Travel                    minimalis dengan area komunal
April      Fair, travel fair bertaraf internasional   Mei        berkonsep    ruang   terbuka   yang
April      yang juga dihadiri oleh Nasaruddin Umar    May        menjadi   basis    tema   “Essential
           (Menteri Agama Republik Indonesia).                   Harmony”.

           Grand ITC Permata Hijau collaborated
                                                                 Grand Wisata Bekasi presents the
           with Sofintravel Uzbekistan, holding the
                                                                 Altara cluster, a modern minimalist
           Patih Indo Travel Fair, an international
                                                                 residence with an open-concept
           travel fair which was also attended by
                                                                 communal area that is the basis of
           Nasaruddin Umar (Minister of Religion
                                                                 the “Essential Harmony” theme.
           of the Republic of Indonesia).




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19                                                           08
                   RUPST untuk tahun buku 2024                           Menghadirkan Klaster Averon, hunian
                   diselenggarakan di Green Office Park                  bergaya modern colonial di kawasan
                   9, BSD City.                                          Kota Wisata Cibubur, dengan konsep
Juni                                                         Juli        “home with endless comfort” yang
June               AGMS for 2024 fiscal year were held at    July        mengedepankan kenyamanan serta
                   Green Office Park 9, BSD City.                        fungsionalitas.

                                                                         Presenting the Averon Cluster, a
                                                                         modern      colonial-style residence
                                                                         in the Kota Wisata Cibubur area,
                                                                         with a “home with endless comfort”
                                                                         concept that prioritizes comfort and
                                                                         functionality.




25                                                           01
                   Living World Kota Wisata Cibubur,                       Grand Opening DP Mall Expansion
                   menggelar       rangkaian     acara                     Semarang yang mengusung tema
                   hiburan   serta   program    belanja                    ‘This is the Icon’ diadakan bertepatan
Juli               bertajuk   Marvelous     Celebration,     September     dengan Anniversary Mall ke-18.
July               yang berlangsung sejak 4 Juli 2025.       September
                   Puncaknya adalah pada malam                             The Grand Opening of DP Mall
                   apresiasi    pengunjung      melalui                    Expansion Semarang, which carries
                   pengumuman hadiah Grand Prize                           the theme ‘This is the Icon’, was held to
                   dalam program undian Marvelous                          coincide with the Mall’s 18th Anniversary.
                   Surprize dan Late Night Shopping
                   Discount.

                   Living World Kota Wisata Cibubur, held
                   a series of entertainment events and
                   shopping programs entitled Marvelous
                   Celebration, which took place from
                   July 4th, 2025. The culmination was the
                   visitor appreciation night through the
                   announcement of the Grand Prize in
                   the Marvelous Surprise and Late Night
                   Shopping Discount draw programs.




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02                                                     19
            Hapimart, jaringan ritel asal Tiongkok,                Hadirkan   Dovia,  klaster  perdana
            kini hadir pula di ITC Kuningan sebagai                bergaya Mediterania di Kawasan
            langkah penting dalam strategi kami                    Ladoria Grand Wisata Bekasi. Ladoria
September   untuk menjangkau pasar yang lebih luas.    September   akan dikembangkan dengan luas lahan
September                                              September   mencapai 8,70 ha.
            Hapimart, a retail chain from China, is
            now also present at ITC Kuningan as                    Dovia, the first Mediterranean-style
            an important step in our strategy to                   cluster in the Ladoria Grand Wisata
            reach a wider market.                                  Bekasi area, will be developed across
                                                                   8.70 hectare.




30
            Menggandeng                 perusahaan
            pengembang asal Jepang, Sumitomo
            Forestry menghadirkan Kota Wisata
Oktober     Ecovia, sebuah kawasan township
October     seluas 156,50 ha di Kota Wisata Cibubur.
            Ecovia akan menghadirkan sekitar
            4.500 unit hunian tapak dan sekitar
            375 unit ruko dan kavling komersial
            lengkap dengan fasilitas komunitas,
            olahraga, institusi pendidikan, dan
            fasilitas penunjang lain.

            Partnering with Japanese developer
            Sumitomo        Forestry,   they    are
            presenting Kota Wisata Ecovia, a 156.50
            hectare township in Cibubur Tourism
            City. Ecovia will feature approximately
            4,500 landed residential units and
            approximately 375 shophouses and
            commercial lots, complete with
            community facilities, sports facilities,
            educational institutions, and other
            supporting amenities.




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Penghargaan
Awards

                               16th IICD Corporate
                               Governance

15                                                   29
       September               Conference &                September               Golden Property Awards:
       September               Awards                      September               The People’s Choice 2025
                               IICD                                                Indonesia Property Watch


                                                                                  Best City Development Project
                                                                                 Region Bekasi and Surrounding
                                                                                                     Grand Wisata

                          Top 50 Middle Capitalization
                          Public Listed Company
                          PT Duta Pertiwi Tbk




                          21       November
                                   November
                                                         Indonesia Property Awards 2025
                                                         Property Guru




                Best Township                                            Best Wellness Residential
                Masterplan Design                                                   Development
                Grand Wisata                                      Yara at The Kaia Grand Wisata




                                                           Best Township Development
                                                           Greater Jakarta
                                                           Grand Wisata




                          12       Desember
                                   December
                                                         Asia Property Awards 2025
                                                         Property Guru



                    Best Township Masterplan
                    Design (Asia Winner)                  Best Lifestyle Housing/Landed
                                                            Development (Asia Finalist)
                    Grand Wisata
                                                          Giva at The Kaia Grand Wisata




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Best Premium Housing Project                                                        Best Prestigious Housing Project
Region Bekasi and Surrounding​                                                     Region Cibubur and Surrounding
Yara at The Kaia Grand Wisata                                                              Richmond at Kota Wisata




                                             Best of the Best Township
                                                 Development Project​
                                                           Kota Wisata




             Best Lifestyle Housing
             Development
             Giva at The Kaia Grand Wisata


                                                                     Best Retail Interior Design

                                                                         Living World Kota Wisata
                       Best Mid-End Housing
                Development Greater Jakarta
                   Altara Home Grand Wisata




                             Best Retail Interior Design
                             (Asia Finalist)
                             Living World Kota Wisata




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Analisis dan
Pembahasan
Manajemen
Management Discussion and Analysis
Page 101
                                 20
                                 25

Artist’s Impressions - DP Mall
Semarang
Page 102
      Analisis dan Pembahasan Manajemen
      Management Discussion and Analysis




Analisis Operasi
Per Segmen Usaha
Operational Analysis of Business Segments
[SEOJK 2.f.1] [ACGS C.2.3]




Sejalan dengan strategi pertumbuhan jangka         In line with its long-term growth strategy, the
panjang, Perusahaan secara konsisten berfokus      Company consistently focuses on planned and
pada pengembangan kawasan yang terencana           sustainable area development. These initiatives
dan berkelanjutan. Upaya tersebut didukung         were supported by close collaboration with
oleh kolaborasi yang erat dengan mitra-            strategic partners and product development
mitra strategis serta pengembangan produk          that incorporates adaptive design tailored to
dengan konsep desain yang adaptif terhadap         market demands. This integrated approach
kebutuhan pasar. Pendekatan terpadu ini            further strengthens stakeholder trust and
semakin memperkuat kepercayaan pemangku            solidifies the Company’s position as a key
kepentingan     dan      mengukuhkan   posisi      player in the national property industry.
Perusahaan sebagai salah satu pelaku utama
dalam industri properti nasional.

Di tengah dinamika ekonomi yang menantang,         Despite the challenging economic conditions,
Perusahaan berhasil mempertahankan kinerja         the Company has successfully maintained
prapenjualan yang solid. Sepanjang tahun           solid marketing performance. Throughout the
berjalan, Perusahaan membukukan pencapaian         year, the Company recorded marketing sales
prapenjualan sebesar Rp1,76 triliun. Segmen        of IDR1.76 trillion. The residential segment made
residensial memberikan kontribusi signifikan       a substantial contribution, achieving marketing
dengan nilai prapenjualan mencapai Rp1,35          sales of IDR1.35 trillion from the sale of 443
triliun melalui penjualan sebanyak 443 unit        units across all of the Company’s townships. In
yang tersebar di seluruh kota mandiri kelolaan     contrast, the commercial segment generated
Perusahaan. Sementara itu, segmen komersial        marketing sales of IDR404 billion, resulting
mencatatkan prapenjualan sebesar Rp404 miliar      from the sale of 98 apartment units and 64
yang berasal dari penjualan 98 unit apartemen      shophouse units.
dan 64 unit ruko.

Pencapaian tersebut mencerminkan efektivitas       This achievement reflects the effectiveness of
strategi pemasaran dan ketepatan portofolio        the Company’s marketing strategy and the
produk yang ditawarkan Perusahaan. Dengan          suitability of its product portfolio. By emphasizing
tetap mengedepankan prinsip kehati-hatian,         the principles of prudence, financial discipline
disiplin finansial, serta inovasi berkelanjutan,   and constant innovation, the Company remains
Perusahaan       optimistis   dapat    menjaga     optimistic about sustaining its growth momentum
momentum pertumbuhan di tahun-tahun                in the coming years, while consistently delivering
mendatang sekaligus terus memberikan nilai         sustainable value to all stakeholders.
tambah yang berkesinambungan bagi seluruh
pemangku kepentingan.




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                                                   Prapenjualan Marketing Sales


   Rp Miliar IDR Billion
                                                 Pengembangan kawasan yang dilakukan secara terintegrasi
                                                 menjadi penopang kinerja prapenjualan Perusahaan, meski
                 2.488
                           -29,30%               turun, mencapai Rp1.76 triliun. Prapenjualan residensial tetap
                                                 mendominasi dengan kontribusi 77%, senilai Rp1,36 triliun.
                                 1.759
                                                 Sementara, prapenjualan commercial memberikan kontribusi
      1.450                                      23% dengan nilai Rp404 miliar.

                                         1.355   Integrated development of the townships supported
       1.038                                     the Company’s marketing sales performance, despite a
                                         404
                                                 decline, reaching IDR1.76 trillion. Residential marketing sales
                                                 continued to dominate, contributing 77%, valued at IDR1.36
                 2024            2025            trillion. Meanwhile, commercial marketing sales contributed
                                                 23%, valued at IDR404 billion.
          Residensial           Komersial
          Residential           Commercial




Segmen Residensial                                                 Residential Segment
Penjualan segmen residensial Perusahaan pada                       This year, Grand Wisata Bekasi dominated the
tahun ini didominasi oleh Grand Wisata Bekasi.                     Company’s residential segment sales. This
Ini sejalan dengan strategi Perusahaan terus                       aligns with the Company’s ongoing strategy
mengembangkan Grand Wisata sebagai the next                        to develop Grand Wisata as the next sunrise
sunrise property dengan konsep new city, new                       property, embracing the concept of a new city,
opportunity yang mengusung pembangunan                             a new opportunity and promoting sustainable
berkelanjutan. Grand Wisata dinobatkan sebagai                     development. Grand Wisata has been recognized
proyek dengan Best Township Masterplan                             with the awards for Best Township Masterplan
Design* dan Best Township Development (Greater                     Design* and received a Highly Commended* for
Jakarta) – Highly Commended*.                                      Best Township Development (Greater Jakarta).

Tahun ini, di Grand Wisata diluncurkan klaster                     This year, Grand Wisata introduced the Giva
Giva sebanyak 90 unit di atas lahan 3,0 ha dalam                   cluster, comprising 90 units situated on a 3.0
kawasan premium The Kaia. Unit-unit di Giva                        hectare plot in the prestigious The Kaia area. The
dilengkapi dengan panel surya dan smarthome                        Giva units feature solar panels and select smart
pilihan, serta terkoneksi dengan sejumlah                          home systems, along with access to a variety of
infrastruktur konektivitas, seperti akses Tol Jakarta              connectivity infrastructures, including the Jakarta
Cikampek, JORR I & II, LRT dan KCIC Jakarta. Giva                  Cikampek Toll Road, JORR I & II, the LRT and KCIC
berhasil memperoleh penghargaan Best Lifestyle                     Jakarta. Giva has been honored with the Best
Housing Development**, sementara subklaster                        Lifestyle Housing Development** award, while
terdahulu The Kaia, yaitu Yara, juga merebut Best                  its predecessor in The Kaia, the Yara subcluster,
Wellness Residential Development**.                                also received the Best Wellness Residential
                                                                   Development** award.

Grand Wisata juga memperkenalkan Altara Home                       Grand Wisata has launched Altara Home,
dengan 250 unit eksklusif. Altara ditawarkan                       featuring 250 exclusive units. Altara is available
dengan Promo Satu Harga dengan berbagai                            with a One Price Promo, providing various
cara bayar. Pada tahun yang sama dengan                            payment options. Remarkably, in the same year
peluncurannya, Altara Home langsung merebut                        of its launched, Altara Home was awarded the
penghargaan Best Mid-End Housing Development                       title of Best Mind-End Housing Development
(Greater Jakarta) – Highly Commended**.                            (Greater Jakarta) – Highly Commended**.

Masih di tahun ini, Grand Wisata memperkenalkan                    Even this year, Grand Wisata unveiled a new
kawasan baru, yaitu Ladoria, dengan luas lahan                     area called Ladoria, encompassing a plot of 8.7
8,7 ha. Dovia akan menjadi klaster pertama di                      hectare. The first cluster within Ladoria, named
kawasan Ladoria yang mengusung desain modern                       Dovia, showcases a modern mediterranean
mediterania dengan nuansa hangat dan elegan,                       design that exudes warmth and elegance,
yang tetap dilengkapi dengan fitur smart living.                   enhanced by smart living features.


                                                                                        2025 ANNUAL REPORT        103
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      Management Discussion and Analysis




Di Kota Wisata, Perusahaan meluncurkan 3 klaster                  In Kota Wisata, the Company has introduced
yaitu Richmond, Averon dan Orlens. Richmond                       three clusters: Richmond, Averon and Orlens. The
dan Averon ditawarkan sebagai unit hunian                         Richmond and Averon clusters are designed as
high-end. Setiap unit Richmond dilengkapi                         high-end residential units. Each Richmond unit
dengan lift, kolam renang dan panel surya                         comes with an elevator, a swimming pool and
pribadi. Sementara Averon bergaya arsitektur                      private solar panels. In contrast, Averon features
modern colonial, dilengkapi dengan teknologi                      modern colonial architecture, is featured with
smart home, serta dapat memilih opsi kolam                        smart home technology and provides the option
renang pribadi.                                                   for a private swimming pool.

Juga di Kota Wisata, Perusahaan bekerjasama                       Also in Kota Wisata, the Company is collaborating
dengan Sumitomo Forestry menghadirkan Kota                        with Sumitomo Forestry to develop Kota Wisata
Wisata Ecovia, sebuah kawasan township seluas                     Ecovia, a 156.50 hectare township located
156,50 ha di Kota Wisata Cibubur. Di dalamnya                     in Cibubur. The development will feature
akan ada sekitar 4.500 hunian tapak yang                          approximately 4,500 landed residences, along
dilengkapi dengan 375 unit ruko dan berbagai                      with 375 shophouses and a variety of public
fasilitas publik. Klaster perdananya, Orlens,                     amenities. The first cluster, Orlen, was built
dikonstruksi secara berkelanjutan, menggunakan                    sustainably using eco-friendly wood materials
material kayu ramah lingkungan dan ditargetkan                    and aims to secure certifications from the GBCI
meraih sertifikasi GBCI dan Excellence in Design for              and Excellence in Design for Greater Efficiencies
Greater Efficiencies (EDGE) yang mensyaratkan                     (EDGE). These certifications focus on energy
efisiensi energi, pengurangan konsumsi air dan                    efficiency, reduced water usage and the use of
penggunaan bahan bangunan yang rendah                             low-carbon building materials.
emisi karbon.

Berikut adalah proyek-proyek residensial yang                     The following residential projects are scheduled
mulai dikonstruksi dan diluncurkan pada tahun                     to commence construction and launch in 2025,
2025 oleh Perusahaan dan Entitas Anaknya:                         by the Company and its Subsidiaries as follows:


      Klaster/ Proyek Residensial    Lokasi                       Area (Ha)                    Unit yang Dikonstruksi
No.
      Residential Cluster/Projects   Location                     Area (Hectares)              Units under Construction




  1 Averon                           Kota Wisata Cibubur          3,3 Ha                                 37

 2 Altara Home                       Grand Wisata Bekasi          2,9 Ha                                 74

 3 Ladoria Dovia                     Grand Wisata Bekasi          3,0 Ha                                 80

 4 Citrus Signature                  Grand Wisata Bekasi          1,2 Ha                                 41




      Klaster/ Proyek Residensial    Lokasi                       Area (Ha)                    Unit yang Diluncurkan
No.
      Residential Cluster/Projects   Location                     Area (Hectares)                  Launched Units




  1 Altara Home                      Grand Wisata Bekasi          2,9 Ha                                 74

 2 Ladoria Dovia                     Grand Wisata Bekasi          3,0 Ha                                 80

 3 Averon                            Kota Wisata Cibubur          3,3 Ha                                 119

 4 Orlens                            Kota Wisata Ecovia Cibubur   156,5 Ha                              248




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      Berikut adalah               kinerja     finansial   segmen          The following is financial performance of the
      Residensial.                                                         Residential segment.
                                                              Residensial Residential


      Rp Miliar IDR Billion

                                                            2.522
             Prapenjualan                                               62,90%                                   64,45%
             Marketing Sales


                                                                         1.586
             Pendapatan                            1.450
             Revenues                                                                         1.355

                                                                                                       1.083
             Laba Kotor
             Gross Profit                                                                                          698



             Marjin Laba Kotor
             Gross Profit Margin


                                                             2024                                      2025




Segmen Commercial                                                          Commercial Segment
Meski     tahun    ini,    Perusahaan       tidak                          Although the Company did not launch any new
memperkenalkan         kawasan      commercial                             commercial segments this year, previously launched
baru, akan tetapi unit-unit yang sebelumnya                                units remain to be well-received in the market.
diluncurkan masih terus diserap oleh pasar.

Segmen apartemen disumbang oleh Southgate                                  The apartment sector was primarily driven by
dan Aerium di Jakarta serta Klaska Residence                               Southgate and Aerium in Jakarta, along with
di Surabaya, yang mana sebanyak 98 unit                                    Klaska Residence in Surabaya, which collectively
terjual dengan nilai total Rp222,85 miliar. Untuk                          sold 98 units, generating a total value of
meningkatkan penyerapan dan nilai tambah                                   IDR222.85 billion. To enhance market absorption
apartemen, Perusahaan melakukan beragam                                    and elevate the value of its apartments, the
inisiatif. Salah satunya, menghadirkan Aerium                              Company has implemented several initiatives.
Apartment di GIIAS 2025 mengukuhkan diri                                   Notably, the Aerium Apartment was showcased
diri sebagai hunian bagi eksekutif muda dan                                at GIIAS 2025, positioning itself as a residence
apartemen pet-friendly pertama di Indonesia.                               tailored for young executives and as Indonesia’s
                                                                           first pet-friendly apartment.

Berikut adalah proyek commercial Perusahaan                                The following is the Company’s commercial
yang dikonstruksi tahun ini.                                               project under construction this year.



       Klaster/ Proyek Commercial            Lokasi                         Area (Ha)                          Unit yang Dikonstruksi
No.
       Commercial Cluster/Projects           Location                       Area (Hectares)                    Units under Construction




  1 Westfield Center                         Grand Wisata Bekasi            0,4 ha                                        21




                                                                                                      2025 ANNUAL REPORT                  105
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      Analisis dan Pembahasan Manajemen
      Management Discussion and Analysis




  Berikut adalah               kinerja   finansial   segmen      The following is the financial performance of
  Commercial:                                                    the Commercial segment:
                                                      Komersial Commercial


  Rp Miliar IDR Billion

                                                     1.145
         Prapenjualan
         Marketing Sales
                                            1.038

                                                                                          792
         Pendapatan
         Revenues                                              39,87%                              51,71%


                                                                456
         Laba Kotor                                                              404                409
         Gross Profit



         Margin Laba Kotor
         Gross Profit Margin


                                                     2024                                 2025




Segmen Manajemen Aset                                            Asset Management Segment
Perusahaan    mengelola  aset-aset     yang                      The Company manages assets that generate
menghasilkan pendapatan berulang, yaitu aset                     recurring income, namely office and ITC.
perkantoran dan ITC.

Riset Colliers menemukan bahwa pasar                             Colliers’ research revealed that the Jakarta
perkantoran Jakarta sepanjang tahun 2025                         office market is set to experience a progressively
menunjukkan      dinamika     pemulihan    yang                  positive recovery throughout 2025. While leasing
semakin konstruktif, meskipun bertahap. Aktivitas                activity has primarily been fueled by contract
penyewaan sebagian besar tetap didorong oleh                     renewals, a notable change occurred in the
perpanjangan kontrak; namun, pergeseran yang                     second half of the year, with a rise in relocation
signifikan muncul pada paruh kedua tahun ini                     and expansion activities. This transformation
seiring dengan meningkatnya aktivitas relokasi                   indicates a strengthening business sentiment,
dan ekspansi. Perubahan ini mencerminkan                         an influx of renewed investment and a more
sentimen bisnis yang membaik, arus masuk                         optimistic outlook as we approach 2026.
investasi yang diperbarui dan prospek yang lebih
positif menjelang tahun 2026.

Sepanjang 2025, laju transaksi sewa kantor                       Throughout 2025, office leasing transactions
berlangsung dalam ritme moderat dengan                           remained moderate as tenants exercised a
tingkat kehati-hatian yang tetap tinggi dari                     high degree of caution, particularly in light of the
sisi penyewa, terutama di tengah ketersediaan                    significant availability of vacant spaces. Tenants are
ruang kosong yang masih cukup besar. Dalam                       becoming increasingly discerning in their selections,
menentukan pilihan, penyewa semakin selektif                     favoring properties that provide an optimal
dan cenderung memprioritaskan gedung yang                        balance of strategic location, quality construction,
mampu menawarkan keseimbangan optimal                            accessibility and competitive rental rates.
antara lokasi yang strategis, kualitas bangunan
yang baik, kemudahan akses, serta biaya sewa
yang kompetitif.




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   Berikut adalah kinerja perkantoran yang                      The following is a highlight of the performance
   dikelola Perusahaan selama 3 tahun terakhir.                 of the offices managed by the Company for the
                                                                last three years.
                                           Gedung Perkantoran Office Building

                                                                                     100%        100%         100%
       90%           89%            90%

                                             76%
                                                          67%

                                                                      52%




       2023          2024           2025     2023        2024        2025             2023       2024         2025

                Sinar Mas Land                         Cashbac                               Sopo Del Tower
              Jakarta Tower 2 & 3              (d/h Dimo Space) Jakarta                         Jakarta
                    Jakarta




Selain perkantoran, Perusahaan juga mengelola aset              In addition to offices, the Company also
ITC. Tenant relations yang baik dan kolaborasi dengan           manages ITC assets. Good tenant relations
mitra strategis menjadi modal utama Perusahaan                  and collaboration with strategic partners are
untuk menampilkan wajah ITC yang dinamis dan                    the Company’s main assets in presenting ITC’s
menjadi pilihan pengalaman berbelanja yang unik                 dynamic image and becoming a unique and
dan menyenangkan. Berbagai kegiatan menarik,                    enjoyable shopping experience. To enhance foot
termasuk untuk merayakan season-season tertentu                 traffic and develop a loyal community, a variety of
sepanjang tahun, diadakan untuk meningkatkan foot               engaging activities are organized throughout the
traffic dan mengembangkan komunitas yang loyal.                 year, often celebrating seasonal themes. Notable
Beberapa kegiatan yang menarik adalah barongsai                 events include the lion dance celebration at ITC
tonggak di ITC Mangga Dua, untuk menarik para                   Mangga Dua, aimed at attracting creators to
kreator yang berpotensi mengembangkan brand                     develop local brands and meet & greet sessions
lokal, serta meet & greet karakter anime di ITC                 with anime characters at ITC Cempaka Mas and
Cempaka Mas dan ITC Roxy Mas.                                   ITC Roxy Mas.

Secara bertahap, Perusahaan menawarkan hal-                     The Company is gradually introducing new
hal baru di sejumlah ITC yang dikelolanya. Tahun                offerings at several of its managed ITCs. This
ini, ITC Kuningan memperkenalkan anchor tenant                  year, ITC Kuningan welcomed a new anchor
baru, yaitu jaringan ritel asal Tiongkok, Hapimart,             tenant, the Chinese retail chain Hapimart, which
yang adalah menyediakan beragam varian                          provides an extensive range of products, from
produk kebutuhan mulai dari grocery, peralatan                  groceries to electronics and various household
elektronik dan kebutuhan rumah tangga lainnya.                  essentials. This marks the second Hapimart to
Ini adalah Hapimart kedua yang dibuka di                        join the ITC chain, following the the one at ITC
jaringan ITC, setelah ITC Cempaka Putih.                        Cempaka Putih.

Akhir tahun ini, ITC Mangga Dua juga                             ITC Mangga Dua also unveiled a revitalized space
memperkenalkan wajah baru bernama “The                          known as “The Circle” on the 5th floor at the end
Circle” di lantai 5 paska penyegaran. Area ini kini             of this year, upon a comprehensive rejuvenation.
lebih modern, segar dan instagramable dengan                    This area now boasts a modern and fresh
fokus pada fashion, lifestyle dan kuliner. Lobi timur           aesthetic and instagrammable, focus on fashion,
ITC Mangga Dua juga kini tampil lebih modern                    lifestyle and culinary delights. The east lobby of
dengan koleksi fashion premium, salon, hingga                   ITC Mangga Dua features modern design that
matcha & coffee bar.                                            includes a premium fashion collection, a salon to
                                                                matcha & coffee bar.


                                                                                     2025 ANNUAL REPORT              107
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      Management Discussion and Analysis




  Berikut adalah tingkat hunian proyek superblok               The following are the occupancy rates of
  dan ITC selama tiga tahun terakhir.                          superblock and ITC projects over the past
                                                               three years.
                                           Superblock & ITC Superblock & ITC


                                                                                 79%
                                                                                            77%        75%

         60%          60%           60%     58%
                                                         57%          57%




         2023         2024          2025    2023         2024        2025        2023      2024        2025

                ITC Permata Hijau                  ITC Cempaka Mas                       ITC Depok
                     Jakarta                            Jakarta




                                            90%                       89%
                                                         88%

         74%          72%           72%
                                                                                                       68%
                                                                                 67%        67%




         2023         2024          2025    2023         2024        2025        2023      2024        2025

                 ITC Fatmawati                     ITC Mangga Dua                       ITC Kuningan
                    Jakarta                            Jakarta                             Jakarta




         91%
                      90%           89%     89%          89%          90%



                                                                                            69%        66%

                                                                                 54%




         2023         2024          2025    2023         2024        2025        2023       2024       2025

                Mall Ambassador                      ITC Roxy Mas                       ITC Surabaya
                     Jakarta                            Jakarta




108      LAPORAN TAHUNAN 2025
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Segmen Retail and Hospitality                           Retail and Hospitality Segment
Riset Colliers tentang ritel di tahun 2025 melihat      Colliers’ research on the retail in 2025 reveals a
bahwa pasar ritel Jabodetabek menunjukkan               gradual recovery within the Greater Jakarta retail
pemulihan bertahap, sebagian besar didorong             market. This rebound is primarily fueled by high-
oleh mal-mal kelas atas yang terus menarik              end malls which are attracting retailer expansion
ekspansi peritel melalui pembukaan toko skala           through large-scale store openings, store
besar, peningkatan kualitas toko, dan penawaran         upgrades and new product offerings. In contrast,
produk baru. Sebaliknya, mal-mal kelas menengah         mid- to lower-end malls are currently in a steady
hingga bawah tetap berada dalam fase stabilisasi,       phase, focusing on selective improvements to
berfokus pada peningkatan selektif pada komposisi       their tenant mix and amenities. This recovery is
penyewa dan fasilitas. Pemulihan ini didukung oleh      further supported by the resilience of Jakarta’s
ketahanan relatif sektor ritel Jakarta, khususnya       retail sector, particularly within the food and
dalam kategori makanan dan minuman yang                 beverage category which continues as demand
terus menjadi penopang permintaan meskipun              support despite broader consumer caution.
konsumen secara luas lebih berhati-hati.

Namun demikian, kenaikan biaya hidup dan                However, rising living costs and economic
ketidakpastian ekonomi mendorong konsumen               uncertainty are driving consumers to adopt
untuk semakin selektif dalam berbelanja. Kondisi        a more selective approach to their shopping
ini berdampak pada menurunnya kunjungan                 habits. This trend has led to a decrease in local
lokal dan nilai transaksi rata-rata, meskipun           visits and average transaction values, even as
tingkat kunjungan secara umum masih terjaga.            overall visitation levels remain stable. The shift
Pergeseran pola belanja ke arah kebutuhan pokok         in consumer behavior towards prioritizing basic
menuntut pengelola pusat perbelanjaan untuk             necessities necessitates that shopping center
terus memperkuat peran mereka sebagai destinasi         managers enhance their roles as relevant and
gaya hidup yang relevan dan bernilai tambah.            value-added lifestyle destinations.

Tahun ini, DP Mall Extension telah dibuka seluruhnya.   This year, the DP Mall Extension has officially opened,
DP Mall kini telah menjadi lifestyle mall dan eco-      establishing DP Mall as Semarang’s premier lifestyle
building pertama dan terdepan di Semarang dengan        destination and eco-friendly building. It features a
konsep ruang terbuka hijau, dan menjadi rumah bagi      green open space concept and proudly hosts the
AEON Supermarket pertama di Jawa Tengah.                first AEON Supermarket in Central Java.

Juga tahun ini, Living World Grand Wisata yang          Living World Grand Wisata, developed in partnership
dikembangkan bersama Kawan Lama Group,                  with the Kawan Lama Group, officially opened for
resmi dibuka dan menjadi “Home Living & Eat-            public in 2025, becoming the largest “Home Living
tertainment” terbesar dengan 250 tenant di area         & Eat-ertainment” venue in the eastern Bekasi
timur Bekasi. Dari sisi arsitektur, desain interior     area, featuring 250 tenants. The interior design of
Living World Grand Wisata sarat dengan keindahan        Living World Grand Wisata features the beauty of
nuansa alam yang menonjolkan unsur seperti air,         natural elements, emphasizing aspects like water,
sungai, dan warna biru batik indigo. Konsep ini         rivers and the indigo blue of batik. This concept
diwujudkan dengan kehadiran air mancur, dan             is beautifully represented through the presence of
dominasi warna biru pada interior, serta ornamen-       fountains, dominant by blue hues interior and the
ornamen ikonik yang menghiasi mal.                      iconic ornaments that decorate the mall.

Living World Kota Wisata Cibubur, “The Biggest          Living World Kota Wisata Cibubur, known as “The
Home Living, Lifestyle & Eat-ertainment” di area        Biggest Home Living, Lifestyle & Eat-ertainment”
timur Jakarta dan Bogor juga menghadirkan acara-        venue in eastern Jakarta and Bogor, also hosts a
acara menarik termasuk program Marvelous                variety of engaging events, including the Marvelous
Celebration. Acara yang terwujud karena kolaborasi      Celebration program. This initiative is the result of
dengan berbagai komunitas dan tenant untuk              collaboration among diverse communities and
menghadirkan berbagai aktivitas yang menjadi            tenants, presenting activities that foster expression,
wadah ekspresi, kreativitas, dan kebersamaan bagi       creativity and community engagement for children
anak-anak dan keluarga. Tahun ini, Living World         and families. Notably, this year, Living World Kota
Kota Wisata Cibubur mendapatkan penghargaan             Wisata Cibubur was honored with the Best Retail
sebagai Best Retail Interior Design dalam ajang         Interior Design award at the PropertyGuru Indonesia
PropertyGuru Indonesia Property Awards 2025.            Property Awards 2025.



                                                                               2025 ANNUAL REPORT          109
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      Management Discussion and Analysis




   Berikut adalah tingkat okupansi mal yang                              The following is a breakdown of the occupancy
   dikelola Perusahaan.                                                  rates of malls managed by the Company.
                                                            Retail & Hospitality


         98%
                      88%
                                    79%
                                                                                   77%

                                                                                                                               63%




                                                     0%             0%                                 0%          0%


        2023          2024          2025             2023          2024            2025                2023       2024        2025


               DP Mall Semarang*                      Living World Kota Wisata^                         Living World Grand Wisata^


       Catatan Notes
       *) Karena penambahan area yang dapat disewa                       ^) Mulai beroperasi 2025
         Due to additional leasable area                                   Started operation in 2025




Perusahaan juga melayani segmen hotel dengan                             The Company also serves to the hotel sector
Rooms Inc. di Semarang yang berlokasi di sebelah                         through its properties, including Rooms Inc.
DP Mall, dan menjelang akhir tahun 2025, Artotel                         in Semarang, conveniently located adjacent
Kota Wisata Cibubur yang terintegrasi dengan Living                      to DP Mall and R Hotel Rancamaya Golf and
World Kota Wisata juga telah dibuka. Penambahan                          Resort in Bogor. By the end of 2025, the Artotel
hotel kelolaan Perusahaan ini bersamaan                                  Kota Wisata Cibubur, integrated with Living
waktunya dengan peningkatan yang konsisten                               World Kota Wisata, is also opened to the public.
jumlah kunjungan wisatawan mancanegara yang                              The expansion of these hotels aligns with a
mencapai lebih dari 16 juta kunjungan. Sedangkan                         stable increase in international tourist arrivals,
jumlah perjalanan wisatawan nusantara, yaitu                             which have surpassed 16 million. Concurrently,
penduduk Indonesia yang berwisata di daerah-                             domestic tourism has seen significant growth,
daerah di Indonesia, juga meningkat pesat, 20%                           with Indonesian residents undertaking over 100
menjadi lebih dari 100 juta perjalanan.                                  million trips, reflecting a remarkable 20% increase.

Walau demikian, riset Colliers memperingatkan                            Colliers’ research highlights potential challenges
adanya tekanan di pasar hotel, khususnya di                              within the hotel market, especially in Jakarta,
Jakarta, khususnya dari kegiatan terkait Meetings,                       particularly from government-led MICE activities.
Incentives, Conventions and Exhibitions (MICE)                           Throughout      2025,  the    implementation    of
yang berasal dari Pemerintah. Sepanjang tahun                            government efficiency measures has notably
2025, langkah-langkah efisiensi yang diterapkan                          diminished hotel occupancy rates, creating a
oleh pemerintah secara signifikan mengurangi                             significant performance gap, despite improvements
utilisasi hotel, mengakibatkan kesenjangan kinerja                       in the corporate, group and FIT markets.
yang nyata meskipun ada peningkatan di pasar
korporat, grup dan Free Individual Traveler (FIT).




110      LAPORAN TAHUNAN 2025
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  Berikut adalah tingkat okupansi kedua hotel                             The following shows the occupancy level
  beserta dengan kinerja profitabilitas dari                              of the two hotels, along with the profitability
  segmen hotel.                                                           performance of the hotel segment.
                                                                     Hotel

                              80%

                                            78%            79%
                                                                                                                 74%




                                                                                       0%          0%


                              2023          2024           2025                       2023         2024          2025


                                 Rooms Inc., Semarang                                Artotel Living World Kota Wisata*

    Catatan Notes
    *) Dibuka pada Agustus 2025 Opened in August 2025




        Pendapatan Usaha
        Revenues                                                      25,47          67,71%                    23,78            66,84%


                                                                                      17,25                                     15,89
        Laba Kotor
        Gross Profit                         Rp Miliar
                                             IDR Billion


        Marjin Laba Kotor
        Gross Profit Margin




                                                                              2024                                       2025




Perusahaan juga mengelola Go!Wet Waterpark                                The Company also manages Go!Wet Waterpark
di Grand Wisata Bekasi. Seiring dengan makin                              at Grand Wisata Bekasi. As the demand for a
tingginya kebutuhan akan hidup yang seimbang                              balanced lifestyle that harmonizes work and leisure
antara work and play, arena rekreasi menduduki                            grows, recreational spaces have risen significantly
posisi yang makin tinggi di dalam daftar                                  in public priority lists, as reflected in the increasing
prioritas masyarakat, yang tercermin dari tingkat                         number of visitors to the Company’s recreational
kunjungan arena rekreasi kelolaan Perusahaan ini.                         areas, as highlighted below.


                                            Jumlah Pengunjung Go!Wet Number of Visitors to Go!Wet



                                               190.885                           263.044                                 248.283




                                     2023                             2024                                2025



                                                           Go!Wet Grand Wisata, Bekasi




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      Management Discussion and Analysis




Analisis Keuangan
Financial Analysis

Pembahasan dan analisa berikut mengacu pada        The following discussion and analysis refer to
Laporan Keuangan Konsolidasian Perusahaan          the Consolidated Financial Statements of the
beserta Entitas Anak dan catatan terkait untuk     Company and its Subsidiaries and related notes
tahun-tahun yang berakhir pada 31 Desember         for the periods ending on December 31st, 2025 and
2025 dan 2024, sebagaimana yang telah diaudit      2024, as audited by Registered Public Accounting
oleh Kantor Akuntan Publik Mirawati Sensi Idris    Firm Mirawati Sensi Idris (an independent member
(an independent member of Moore Global             of Moore Global Network Limited), hereinafter
Network Limited), selanjutnya disebut KAP, yang    referred to as KAP, that is an integral part of this
merupakan bagian tak terpisahkan dari Laporan      Annual Report.
Tahunan ini.

Laporan Keuangan Konsolidasian Perusahaan          The Company and its Subsidiaries’ Consolidated
beserta Entitas Anak dan catatan terkait untuk     Financial Statements and related notes for
tahun-tahun yang berakhir pada 31 Desember         the periods ending on December 31st, 2025 and
2025 dan 2024, telah dilengkapi dengan Surat       2024, has been accompanied by the Directors’
Pernyataan Direksi yang menyatakan bahwa           Statement that all information has been (i) fully
semua informasi di dalamnya adalah (i) lengkap     and correctly disclosed; and (ii) do not contain
dan benar; dan (ii) tidak mengandung informasi     materially misleading information or facts and
atau fakta material yang tidak benar dan tidak     do not conceal any information or fact.
menghilangkan informasi atau fakta material.
[ACGS C.8.3]


Laporan Keuangan ini telah disampaikan oleh        The Financial Statements were submitted by the
Perusahaan kepada BEI dengan tembusan              Company to the BEI with a copy forwarded to the
kepada OJK dalam surat No.009/IR-CS/DP/            OJK in a letter No.009/IR-CS/DP/III/2026 dated
III/2026 pada tanggal 6 Maret 2026. [ACGS C.8.1]   March 6th, 2026.

Menurut pendapat KAP sesuai yang tercantum         According to KAP as specified in letter No.
dalam surat No.00140/2.1090/AU.1/03/1905-2/1/      00140/2.1090/AU.1/03/1905-2/1/III/2026    dated
III/2026 tanggal 5 Maret 2026, Laporan Keuangan    March 5th, 2026, the Consolidated Financial
Konsolidasian Perusahaan dan Entitas Anak untuk    Statements of the Company and its Subsidiaries,
tahun-tahun yang berakhir pada 31 Desember         as of December 31st, 2025 and 2024 are issued
2025 dan 2024 mendapatkan opini “Wajar tanpa       with an “Unqualified Opinion”, aligning with the
pengecualian”, sesuai dengan Standar Akuntansi     Indonesian Financial Accounting Standards.
Keuangan di Indonesia.


Sekilas Kinerja Keuangan                           Financial Performance in Brief
Tahun ini Perusahaan mencatatkan Pendapatan        This year, the Company recorded Revenues
Usaha sebesar Rp2,73 triliun dengan Laba Tahun     of IDR2.73 trillion with Profit for the Year worth
Berjalan sebesar Rp623,59 miliar. Jumlah Aset      IDR623.59 billion. Total Assets were solid at IDR16.15
kokoh di Rp16,15 triliun dengan Jumlah Ekuitas     trillion with Total Equity of IDR13.68 trillion.
Rp13,68 triliun.




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Laporan Posisi Keuangan                                               Statements of Financial Position


  Jumlah Aset [SEOJK 2.f.2.a]
  Total Assets

  Jumlah Aset meningkat Rp1,78 triliun menjadi                        Total Assets increased by IDR1.78 trillion to
  Rp16,15 triliun, khususnya karena kenaikan                          IDR16.15 trillion, primarily due to an increase in
  Aset Lancar.                                                        Current Assets.




  Jumlah Aset Lancar [SEOJK 2.f.2.a]
  Total Current Assets

                                                                                              Aset Lancar Current Assets
  Jumlah Aset Lancar meningkat Rp1,55 triliun
  menjadi Rp8,19 triliun, karena kenaikan Kas
  dan Setara Kas.                                                                                                      8.193,13



  Total Current Assets increased by IDR1.55                                                               6.641,32

  trillion to IDR8.19 trillion, due to an increase in                           Rp Miliar                                    23,37%
                                                                                IDR Billion
  Cash and Cash Equivalents.




                                                                                                           2024            2025




  Kas dan Setara Kas
  Cash and Cash Equivalents

  Kas dan Setara Kas meningkat Rp1,00 triliun                         Cash and Cash Equivalents increased by IDR1.00
  menjadi Rp3,53 triliun. Sebagian besar Kas                          trillion to IDR3.53 trillion. The majority of Cash and
  dan Setara Kas adalah dalam bentuk Deposito                         Cash Equivalents were in Rupiah-denominated
  Berjangka Rupiah, yaitu Rp3,33 triliun.                             time deposits, amounting to IDR3.33 trillion.


                                          Kas dan Setara Kas 2025 Cash and Cash Equivalent 2025


  Rp Miliar IDR Billion                                                                                     Bank dan Deposito Berjangka
                                                                                                                 (Mata uang asing) ; 2,17
                                                                                                                     Bank and Time Deposit
         Bank dan Deposito Berjangka (Rupiah)                                                                           (Foreign Currency)
         Bank and Time Deposit (Rupiah)                                           2,65



         Kas
         Cash                                      3.528,45




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      Investasi Jangka Pendek
      Short-term Investment

      Investasi Jangka Pendek turun Rp32,8 miliar                                   Short-term Investment declined by IDR32.8
      menjadi Rp207,63 miliar. Investasi Jangka                                     billion to IDR207.63 billion. Short-term
      Pendek merupakan rekening penampungan                                         Investments consists of escrow account and
      dan deposito berjangka.                                                       time deposits.




      Piutang Usaha
      Trade Accounts Receivables

      Piutang Usaha naik Rp737 juta menjadi Rp23,39                                 Trade Accounts Receivables increased by
      miliar. Sebagian besar Piutang Usaha telah                                    IDR737 million to IDR23.39 billion. The majority
      jatuh tempo dalam waktu kurang dari 30 hari,                                  of Trade Accounts Receivables are due in less
      yaitu 94,54% dari total Piutang Usaha.                                        than 30 days, representing 94.54% of total
                                                                                    Trade Accounts Receivables.


                                                      Kas dan Setara Kas 2025 Cash and Cash Equivalent 2025


      Rp Miliar IDR Billion                                                       Belum jatuh tempo dan tidak      > 1 bulan - 3 bulan
                                                                                  mengalami penurunan nilai        >1 month - 3 months
                                                                                  Not Past Due and no impairment
                                                  0,33      0,39
                                                                                  Sampai dengan 1 bulan            > 6 bulan - 1 tahun
                                                            0,52                  Less than 1 month                >6 months - 1 year

                                                            1,80

                                22,11                                             > 3 bulan - 6 bulan
                                                                                  >3 months - 6 months




      Persediaan
      Inventories

      Persediaan      meningkat    Rp405,42  miliar                                 Inventories increased by IDR405.42 billion
      menjadi Rp3,76 triliun. Sebagian Persediaan                                   to IDR3.76 trillion. Real estate inventories
      adalah persediaan real estat yang mencapai                                    accounted for IDR3.76 trillion, representing
      Rp3,76 triliun atau 99,98% dari total.                                        99.98% of the total.

                                                                            Persediaan Inventories


      Rp Miliar IDR Billion
                                                                                                                            3.763
                                                            2024
                                Persediaan real estat
                                  Real Estate Inventories
                                                                                                                    3.357
                                                            2025


                                                                     0,84
                                                            2024
                       Persediaan hotel dan lainnya
                              Hotel and other inventories
                                                                      1,24
                                                            2025




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Aset Tidak Lancar [SEOJK 2.f.2.a]
Noncurrent Assets
                                                                     Aset Tidak Lancar Non-current Assets
Aset Tidak Lancar meningkat Rp231,48 miliar
menjadi Rp7,95 triliun karena kenaikan Tanah
yang Belum Dikembangkan.                                                                            7.953



Non-current assets increased by IDR231.48                                               7.721

billion, reaching a total of IDR7.95 trillion. This        Rp Miliar                                    3,00%
                                                           IDR Billion
is primarily attributed to a growth in land for
development.




                                                                                       2024         2025




Investasi dalam Saham
Investment in Shares

Investasi dalam Saham turun Rp23,55 miliar            Investment in Shares was down by IDR23.55
menjadi Rp583,82 miliar.                              billion to IDR583.82 billion.




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      Tanah yang Belum Dikembangkan
      Land for Development

      Tanah yang Belum Dikembangkan meningkat                              Land for Development increased in both area
      baik dalam luas maupun nilai. Nilai Tanah                            and value. Land value increased by IDR165.39
      meningkat Rp165,39 miliar menjadi Rp4,81                             billion to IDR4.81 trillion, with an area increase
      triliun, dengan peningkatan luas 11,23 ha                            of 11.23 hectares to 1,199.58 hectares.
      menjadi 1.199,58 ha.
                                           Tanah yang Belum Dikembangkan Land for Development


      Nilai (Rp miliar)
      Value (IDR billion)
                                                                                                             1.584.375
                                                  2024

                                        Roxy II
                                                                                                                     1.792.807
                                                  2025


                                                                                                     1.441.276
                                                  2024

                                     Surabaya
                                                                                                     1.442.729
                                                  2025


                                                                                       759.492
                                                  2024

                                 Grand Wisata
                                                                                           781.316
                                                  2025


                                                                                      713.342
                                                  2024

                                   Kota Wisata
                                                                            412.648
                                                  2025


                                                           -
                                                  2024

                            Kota Wisata- Ecovia
                                                                        234.240
                                                  2025


                                                                 120.932
                                                  2024

                                        Bekasi
                                                                 120.932
                                                  2025


                                                            17.006
                                                  2024

                            Mangga Dua Center
                                                               17.137
                                                  2025


                                                           8.027
                                                  2024

                                    Kota Bunga
                                                           8.027
                                                  2025




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                           Tanah yang Belum Dikembangkan Land for Development


Luas (m2)
Area (m2)
                                                                                             4.820.092
                                  2024

                 Grand Wisata
                                                                                           4.637.133
                                  2025


                                                                                     4.352.954
                                  2024

                     Surabaya
                                                                                     4.352.470
                                  2025


                                           -
                                  2024

            Kota Wisata- Ecovia
                                                               1.400.562
                                  2025


                                                         850.306
                                  2024

                        Bekasi
                                                         850.306
                                  2025


                                                                   1.594.074
                                  2024

                   Kota Wisata
                                                     489.110
                                  2025


                                               177.088
                                  2024

                        Roxy II
                                               177.264
                                  2025


                                            64.715
                                  2024

                    Kota Bunga
                                            64.715
                                  2025


                                          24.186
                                  2024

            Mangga Dua Center
                                          24.186
                                  2025




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  Aset Tetap
  Property and Equipment

  Aset Tetap turun Rp14,82 miliar menjadi                                        Property and Equipment was down by IDR14.82
  Rp205,41 miliar.                                                               billion to IDR205.41 billion.


                                                          Aset Tetap Property and Equipment


  Rp Miliar IDR Billion
                                                                                                                     136,51
                                                       2024
                                       Bangunan
                                          Buildings
                                                                                                            124,34
                                                       2025


                                                                                         43,46
                                                       2024
                                            Tanah
                                              Land
                                                                                         43,46
                                                       2025


                                                                                21,93
                                                       2024
                                      Kendaraan
                          Transportation equipment
                                                                                 23,15
                                                       2025


                                                                         15,03
                                                       2024
                                       Inventaris
                              Furniture and fixtures
                                                                        11,73
                                                       2025


                                                                 2,25
                                                       2024
                   Sarana pelengkap bangunan
                             Building improvement
                                                                 1,93
                                                       2025


                                                                0,96
                                                       2024
                                    Mesin-mesin
                                        Machinery
                                                                0,75
                                                       2025


                                                               0,09
                                                       2024
               Aset tetap dalam pembangunan
                           Construction in progress
                                                               0,06
                                                       2025


                                                                 -
                                                       2024
                    Perbaikan aset yang disewa
                          Leasehold improvements
                                                                 -
                                                       2025




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Properti Investasi
Investment Properties

Luas Properti Investasi meningkat 3.199 m2                                   The area of ​​Investment Property increased
menjadi 256.592 m2, sehingga nilai pun                                       by 3,199 m2 to 256,592 m2, so the value also
meningkat Rp90,03 miliar menjadi Rp2,26 triliun.                             increased by IDR90.03 billion to IDR2.26 trillion.


                               Properti Investasi Berdasarkan Nilai 2025 Investment Properties Based on Values 2025


Rp Miliar IDR Billion
                                                                           449,47
                                 2024

         DP Mall Semarang
                                                                                                             960,28
                                 2025


                                                                                                       885,77
                                 2024

     AEON Mall South Gate
                                                                                                    836,28
                                 2025


                                                                275,74
                                 2024

      Sinarmas Land Plaza
                                                              258,97
                                 2025


                                                   68,18
                                 2024

              Grand Wisata
                                                    75,68
                                 2025


                                                     81,46                                                       -
                                 2024                                                               2024

             Sopo Del Tower                                                       ITC Kuningan
                                                    75,64                                                        -
                                 2025                                                               2025


                                                34,42                                                            -
                                 2024                                                               2024

                    Cashbac                                                   ITC Mangga Dua
                                                32,68                                                            -
                                 2025                                                               2025


                                            8,09                                                                  14,34
                                 2024                                                               2024
                                                                Aset tetap dalam perjanjian
                                                             rangka bangun, kelola dan alih
  Mega ITC Cempaka Mas                                          Properties under build, operate
                                            8,09                      and transfer agreement                         11,74
                                 2025                                                               2025


                                           3,14                                                                                      349,23
                                 2024                                                               2024
                                                                  Properti investasi dalam
                   ITC Depok                                                 pembangunan
                                            -                            Construction in progress               0,51
                                 2025                                                               2025




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      Management Discussion and Analysis




                         Properti Investasi Berdasarkan Luas Area 2025 Investment Properties Based on Area 2025


  Luas (m2)
  Area (m2)
                                                                                                                  84.646
                                              2024

                      Sinarmas Land Plaza
                                                                                                                  84.646
                                               2025


                                                                                                       53.633
                                              2024

                         DP Mall Semarang
                                                                                                       53.633
                                               2025


                                                                                                 47.586
                                              2024

                      AEON Mall South Gate
                                                                                                 47.586
                                               2025


                                                                               24.195
                                              2024

                             Grand Wisata
                                                                               24.195
                                               2025


                                                                      14.720
                                              2024

                    Mega ITC Cempaka Mas
                                                                      14.720
                                               2025


                                                                   11.674
                                              2024

                             ITC Kuningan
                                                                   11.674
                                               2025


                                                                   11.600
                                              2024

                                 ITC Depok
                                                                   11.600
                                               2025


                                                          -
                                              2024

                          ITC Mangga Dua
                                                           3.199
                                               2025


                                                          2.754
                                              2024

                            Sopo Del Tower
                                                          2.754
                                               2025


                                                         2.585
                                              2024

                                 Cashbac
                                                         2.585
                                               2025




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Jumlah Liabilitas [SEOJK 2.f.2.b]
Total Liabilities

Jumlah Liabilitas turun Rp31,93 miliar menjadi                         Total Liabilities decreased by IDR31.93 billion to
Rp2,46 triliun karena penurunan Liabilitas Jangka                      IDR2.46 trillion due to a decrease in Long-Term
Panjang dan kenaikan Liabilitas Jangka Pendek.                         Liabilities and an increase in Short-Term Liabilities.




Liabilitas Jangka Pendek [SEOJK 2.f.2.b]
Current Liabilities

Liabilitas Jangka Pendek meningkat Rp230,01                            Current Liabilities increased by IDR230.01 billion
miliar menjadi Rp1,94 triliun karena kenaikan                          to IDR1.94 trillion due to an increase in Short-
Liabilitas Kontrak Jangka Pendek.                                      Term Contract Liabilities.


                                               Liabilitas Jangka Pendek Current Liabilities



                                                                                   1.943


                                                                      1.713

                                        Rp Miliar                                       13,42%
                                        IDR Billion




                                                                     2024          2025




Utang Usaha
Trade Accounts Payables

Utang Usaha turun Rp6,19 miliar menjadi                                Trade Accounts Payables decreased by IDR6.19
Rp219,52 miliar. Sebagian besar Utang Usaha                            billion to IDR219.52 billion. The majority of Trade
telah jatuh tempo sampai dengan 1 bulan,                               Accounts Payables, representing 72.05% of the
yaitu 72,05% dari total.                                               total, is overdue within one month.


                                           Utang Usaha 2025 Trade Account Payables 2025


Rp Miliar IDR Billion                   53,78                       Sampai dengan 1 bulan             > 3 bulan - 6 bulan
                                                                    Less than 1 month                 >3 months - 6 months


                                 1,45          0,06
                                                                     > 1 bulan - 3 bulan              > 6 bulan - 1 tahun
                                              6,08                  >1 month - 3 months               >6 months - 1 year



                        158,15                                      > 1 tahun
                                                                    >1 year




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  Liabilitas Kontrak
  Contract Liabilities

  Liabilitas Kontrak turun Rp65,93 miliar menjadi                    Contract Liabilities decreased by IDR65.93
  Rp1,47 triliun. Sebagian besar Liabilitas Kontrak                  billion to Rp1.47 trillion. The majority of these
  bersifat jangka pendek, yaitu Rp1,23 triliun.                      contract liabilities were short-term, amounting
                                                                     to Rp1.23 trillion.


                                           Liabilitas Kontrak 2025 Contract Liabilities 2025


  Rp Miliar IDR Billion                                            Jangka Pendek
                                                                   Current
                                           243


                                                                   Jangka Panjang
                                                                   Non Current



                          1.231




  Uang Muka
  Advances Received

  Uang Muka Diterima meningkat Rp13,89 miliar                        Advances Received increased by IDR13.89
  menjadi Rp96,09 miliar. Sebagian besar                             billion to IDR96.09 billion. The majority of this
  dari jumlah ini adalah jangka pendek, yaitu                        amount was short-term, at IDR80.69 billion.
  Rp80,69 miliar.




  Liabilitas Jangka Panjang [SEOJK 2.f.2.b]
  Noncurrent Liabilities
                                                                                 Liabilitas Jangka Panjang Non-current Liabilities
  Liabilitas Jangka Panjang turun Rp261,94 miliar
  menjadi Rp519,33 miliar karena penurunan
                                                                                                           781
  Liabilitas Kontrak Jangka Panjang.

                                                                                                                        519
  Noncurrent Liabilities decreased by IDR261.94
  billion to IDR519.33 billion due to a decrease in                           Rp Miliar
                                                                              IDR Billion
  Long-Term Contract Liabilities.
                                                                                                                           -33,53%




                                                                                                          2024         2025




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  Jumlah Ekuitas [SEOJK 2.f.2.c]
  Total Equity
                                                                                           Jumlah Ekuitas Total Equity
  Jumlah Ekuitas meningkat Rp1,82 triliun menjadi
  Rp13,68 triliun karena kenaikan saldo laba.
                                                                                                                        13.683

  Total Equity increased by IDR1.82 trillion to IDR13.68
                                                                                                          11.868
  trillion due to the increase of retained earnings.
                                                                            Rp Miliar                                       15,30%
                                                                            IDR Billion




                                                                                                          2024           2025




Tinjauan Laba Rugi                                               Analysis of Profit or Loss


  Pendapatan Usaha [SEOJK 2.f.2.d]
  Revenues
                                                                                          Pendapatan Usaha Revenues
  Pendapatan Usaha, terdampak dinamika
  ekonomi dan industri, terkontraksi Rp1,69
                                                                                                          4.423
  triliun menjadi Rp2,73 triliun. Kontraksi terbesar
  terjadi pada penjualan yang turun Rp1,75 triliun
                                                                                                                         2.733
  menjadi Rp1,91 triliun. Hampir semua segmen
  mengalami penurunan kecuali sewa yang                                     Rp Miliar
                                                                            IDR Billion
  naik 11,54% menjadi Rp655,61 miliar.
                                                                                                                            -38,20%
  Revenues, impacted by economic and industrial
  dynamics, contracted by IDR1.69 trillion to IDR2.73
  trillion. The largest contraction occurred in sales,
  which fell IDR1.75 trillion to IDR1.91 trillion. Nearly                                                 2024           2025
  all segments experienced declines, except for
  rentals, which rose 11.54% to IDR655.61 billion.
                                       Komposisi Pendapatan Usaha Revenues Composition


  Rp Miliar IDR Billion                                                                                       Penjualan
                                                   3.666                            588     25                Sales
                                2024
               Persediaan                                                                                     Sewa
                 real estat                                                                      143
                                                                                                              Rental
                  Real Estate
                                         1.912             656   24
                  Inventories
                                2025                                                                          Hotel
                                                                      142                                     Hotel

                                                                                                              Lain-lain
                                                                                                              Others




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  Beban Pokok Penjualan [SEOJK 2.f.2.d]
  Cost of Revenues

  Seiring kenaikan Pendapatan Usaha, Beban                               Along with the increase in Revenues, the Cost
  Pokok Penjualan juga mengalami penurunan                               of Revenues also decreased by IDR910.71 billion
  Rp910,71 miliar menjadi Rp901,70 miliar.                               to IDR901.70 billion.
                Beban Pokok Penjualan Cost of Revenues                                     Komposisi Beban Pokok Penjualan
                                                                                                 Composition of Cost of Revenues



  Rp Miliar IDR Billion                                                  Rp Miliar IDR Billion             240

                                                                                                                                  120
                            1.812


                                                                                                                                   8
                                      902


                                                                                                     534

                                         -50,52%


                                                                              Penjualan Tanah dan Bangunan                                  Sewa
                                                                              Sales of Land and Buildings                                   Rental


                            2024      2025                                    Penjualan Tanah dan Bangunan Strata Title                     Hotel
                                                                              Sales of Land and Strata Title Buildings




  Laba Kotor [SEOJK 2.f.2.d]
  Gross Profit

  Laba Kotor turun 29,84% menjadi Rp1,83 triliun,                        Gross Profit decreased by 29.84% to IDR1.83 trillion,
  namun marjin laba kotor meningkat menjadi                              but gross profit margin increased to 67.01%.
  67,01%.
                                                            Marjin Laba Kotor Gross Profit Margin


          Rp Miliar IDR Billion
                                                                                                             59,02%
                                                     2024

                                             Total
                                                                                                                      67,71%
                                                     2025


                                                                                                                      67,71%
                                                     2024

                                            Hotel
                                                                                                                   66,84%
                                                     2025


                                                                                                                         69,30%
                                                     2024
                                            Sewa
                                            Rental
                                                                                                                                   81,68%
                                                     2025


                                                                                                        55,71%
                                                     2024
                                     Penjualan
                                             Sales
                                                                                                              59,54%
                                                     2025




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Beban Penjualan [SEOJK 2.f.2.d]
Selling Expenses
                                                                                          Jumlah Beban Penjualan Total Selling Expenses
Beban Penjualan turun Rp119,07 miliar menjadi
Rp574,01 miliar. Penurunan terbesar adalah
                                                                                                                      693
pada biaya Iklan, Promosi dan Komisi.

                                                                                                                                    574
Selling Expenses decreased by IDR119.07 billion
to IDR574.01 billion. The largest decrease was in                                     Rp Miliar
                                                                                      IDR Billion
Advertising, Promotion and Commission expenses.
                                                                                                                                          -17,18%



Komposisi Beban Penjualan
Composition of Selling Expenses
                                                                                                                      2024         2025

Rp Miliar                                   100
IDR Billion
                                                          Iklan, Promosi dan Komisi
                                                          Advertising, promotions and commissions

                                                 76
                                                          Listrik, Telepon dan Keperluan Kantor                   Gaji dan tunjangan karyawan
                                                          Electricity, telephone and office expenses              Salaries and employees’ allowances

                                                          Jasa alih daya                                          Beban Penjualan Lain-lain
                291                           42          Outsourcing                                             Other Selling Expenses
                                       66




Beban Umum dan Administrasi [SEOJK 2.f.2.d]
General and Administrative Expenses

                                                                                             Jumlah Beban Umum dan Administrasi
Beban Umum dan Administrasi naik Rp77,44                                                            General and Administrative Expenses
miliar menjadi Rp481,42 miliar, dengan kenaikan
terbesar pada Gaji dan Tunjangan Karyawan.                                                                                          481



General and Administrative Expenses rose by                                                                           404

IDR77.44 billion to IDR481.42 billion, with the largest                               Rp Miliar                                           19,17%

increase in Employee Salaries and Allowances.                                         IDR Billion




Komposisi Beban Umum dan Administrasi 2025
Composition of General and Administrative Expenses 2025                                                               2024         2025

Rp Miliar
IDR Billion
                                       58                 Gaji Karyawan                                             Penyusutan dan amortisasi
                                                          Salaries                                                  Depreciation and amortization
                                            42
                                                          Beban Umum dan Administrasi Lain-lain                     Perbaikan dan Pemeliharaan
                                             20           Other General and Administrative Expenses                 Repairs and maintenance

                                                          Pajak Bumi dan Bangunan                                   Imbalan kerja jangka panjang
                                             20           Land and building tax                                     Long-term employee benefits
                                            17                                                                      expense
              253
                                                          Jasa alih daya
                                  72                      Outsourcing




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  Laba Usaha [SEOJK 2.f.2.d]
  Operating Profit
                                                                                                     Laba Usaha Operating Profit
  Laba Usaha turun Rp701,20 miliar menjadi
  Rp657,77 miliar. Marjin laba usaha tetap sehat,
  meski terkontraksi menjadi 24,07%.                                                                               1.359


                                                                                                                                   658
  Operating Profit fell by IDR701.20 billion to IDR657.77
  billion. Operating profit margin remained healthy,                                   Rp Miliar
                                                                                       IDR Billion
  although it contracted to 24.07%.
                                                                                                                                         -51,60%




                                                                                                                   2024            2025




  Penghasilan (Beban) Lain-lain [SEOJK 2.f.2.d]
  Other Income (Expenses)

  Tahun ini, Perusahaan mencatatkan Beban                                      This year, the Company recorded Other
  Lain-lain senilai Rp34,63 miliar. Pendapatan                                 Expenses of IDR34.63 billion. Interest and
  Bunga dan Investasi adalah pendapatan lain-                                  Investment Income was the largest other
  lain terbesar, sementara Beban Bunga adalah                                  income, while Interest Expense was the largest
  beban lain-lain terbesar.                                                    other expense.
                                     Komposisi Penghasilan (Beban) Lain-lain Composition of Other Income (Expenses)


         Rp Miliar IDR Billion
                                                                                              (10)
                                                           2024
                                 Total Beban Lain-lain
                                    Total Other Expenses
                                                                                       (35)
                                                           2025


                                                                                              (12)
                                                           2024
                          Beban Lain-lain - bersih
                                    Other Expenses - net
                                                                                (69)
                                                           2025


                                                                   (126)
                                                           2024
                                         Beban bunga
                                       Interest Expenses
                                                                       (105)
                                                           2025


                                                                                                                                   128
                                                           2024
               Pendapatan bunga dan investasi
                      Interest and Investment Income
                                                                                                                                           139
                                                           2025




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Beban Bunga [SEOJK 2.f.2.d]
Interest Expenses

Beban Bunga dan Keuangan Lainnya turun               Interest and Other Financial Expenses
Rp21,47 miliar menjadi Rp104,57 miliar. Kontribusi   decreased by IDR21.47 billion to IDR104.57 billion.
terbesar adalah dari Beban Bunga Atas Liabilitas     The largest contribution came from Interest
Kontrak sebesar Rp100,79 miliar, yang turun          Expense on Contractual Liabilities, which
Rp22,79 miliar dibandingkan tahun lalu.              amounted to IDR100.79 billion, a decrease of
                                                     IDR22.79 billion compared to the previous year.




Laba Sebelum Pajak [SEOJK 2.f.2.d]
Profit Before Tax
                                                                      Laba Sebelum Pajak Profit Before Tax
Laba Sebelum Pajak turun Rp752,68 miliar menjadi
Rp624,39 miliar. Marjin laba sebelum pajak tetap
                                                                                         1.377
sehat pada 22,85%, meski terkontraksi.

                                                                                                      624
Profit Before Tax fell by IDR752.68 billion to
IDR624.39 billion. Profit before tax margin                 Rp Miliar
                                                            IDR Billion
remained healthy at 22.85%, despite contracting.
                                                                                                         -54,66%




                                                                                        2024         2025




Beban Pajak Kini [SEOJK 2.f.2.d]
Current Tax Expense

Beban Pajak Kini turun Rp745 juta menjadi            Current Tax Expense decreased by IDR745
Rp796 juta, seiring dengan penurunan laba.           million to IDR796 million, in line with the
                                                     decrease in profit.




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      Management Discussion and Analysis




  Laba Tahun Berjalan [SEOJK 2.f.2.d]
  Profit for the Year

  Laba Tahun Berjalan turun menjadi Rp623,59                        Profit for the Year decreased to IDR623.59
  miliar. Laba Tahun Berjalan yang dapat                            billion. Profit for the Year attributable to owners
  diatribusikan kepada pemilik entitas induk adalah                 of the parent entity was IDR422.05 billion, while
  Rp422,05 miliar, sementara sisanya, Rp201,54                      the remaining IDR201.54 billion was attributed
  miliar adalah untuk kepentingan non pengendali.                   to non-controlling interests.

  Marjin laba bersih tetap kuat di 15,44% dengan                    Net profit margin remained strong at 15.44% with
  laba per saham dasar Rp228,14 per saham.                          basic earnings per share of IDR228.14 per share.
                                               Laba tahun berjalan Profit of the Year
  Rp Miliar IDR Billion

                                 1.376

                          852
                                                    -50,45%
                                                                                              Laba tahun berjalan
                                                                                              Profit of the Year
                                                                                 624
              524
                                                                    422
                                                                                              Pemilik entitas induk
                                                                                              Owners of the Parent Company

                                                      202

                                                                                              Kepentingan non pengendali
                                                                                              Non-controlling Interests




                          2024                                     2025




  Penghasilan Komprehensif [SEOJK 2.f.2.d]
  Comprehensive Income

  Penghasilan Komprehensif turun menjadi                            Comprehensive        Income     decreased     to
  Rp619,30 miliar. Penghasilan Komprehensif                         IDR619.30 billion. Comprehensive Income
  yang dapat diatribusikan kepada pemilik                           attributable to owners of the parent Company
  entitas  induk   adalah    Rp418,29 miliar,                       IDR418.29 billion, while the remaining IDR201.01
  sementara sisanya Rp201,01 miliar adalah                          billion was for non-controlling interests.
  untuk kepentingan non pengendali.

                                         Penghasilan Komprehensif Comprehensive Income
  Rp Miliar IDR Billion

                                 1.372


                          848
                                                    -50,70%
                                                                                              Penghasilan Komprehensif
                                                                                              Comprehensive Income
                                                                                  619
              524
                                                                    418
                                                                                              Pemilik entitas induk
                                                                                              Owners of the Parent Company

                                                       201

                                                                                              Kepentingan non pengendali
                                                                                              Non-controlling Interests




                          2024                                     2025




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Tinjauan Arus Kas [SEOJK 2.f.2.e]                                             Analysis of Cash Flow Statement


   Tahun ini Perusahaan mencatatkan kenaikan Kas                              This year, the Company recorded an increase
   dan Setara Kas hingga Rp1,00 triliun, khususnya                            in Cash and Cash Equivalents of up to IDR1.00
   dari Aktivitas Pendanaan, yang berasal dari                                trillion, particularly from Financing Activities, which
   penerimaan atas penjualan modal saham                                      came from proceeds from the sale of shares of
   entitas anak kepada kepentingan nonpengendali                              subsidiary to non-controlling interests amounting
   senilai Rp962,85 miliar serta penerimaan atas                              to IDR962.85 billion and proceeds from issuance
   peningkatan modal saham entitas anak yang                                  of shares of subsidiary to non-controlling interests
   menjadi bagian kepentingan nonpengendali                                   amounting to IDR406.42 billion.
   senilai Rp406,42 miliar.
                                                           Gedung Perkantoran Office Building
   Rp Miliar IDR Billion

                                                                                1.194,24
                                                                                                               1.007,95
                                 694,91

                                                   18,18

                     2025                                        2024                           2024                          2024

                                  2024             2025                           2025                           2025

                   (204,48)                                     (77,86)
                                                                                                                            (350,53)

                                                                                              (967,57)

                  Kas Bersih Diperoleh          Kas Bersih Diperoleh           Kas Bersih Diperoleh           Kenaikan (Penurunan)
                 dari (Digunakan untuk)        dari (Digunakan untuk)         dari (Digunakan untuk)         Bersih Kas dan Setara Kas
                    Aktivitas Operasi            Aktivitas Investasi           Aktivitas Pendanaan           Net Increase (Decrease) in
                 Net Cash Provided (Used in)   Net Cash Provided (Used for)   Net Cash Provided (Used for)   Cash and Cash Equivalents
                   by Operating Activities         by Investing Activities       by Financing Activities




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Kemampuan Membayar
Utang dan Kolektabilitas
Piutang
Solvability and Receivables Collectability

Kemampuan Membayar Utang [SEOJK 2.f.3]               Solvability
Perusahaan tidak mempunyai utang berbunga.           The Company has no debt. The Company also
Perusahaan mencatatkan rasio lancar yang             recorded a current ratio at a very safe level,
masih di level sangat aman, yaitu 4,22 kali,         of 4.22 times, that reflects its ability to fulfill its
yang mencerminkan kemampuannya untuk                 current liabilities with its current assets.
memenuhi kewajiban lancar dengan aset lancar.

Kolektabilitas Piutang [SEOJK 2.f.4]                 Receivables Collectability
Perusahaan memiliki kemampuan kolektabilitas         The Company has good receivables collectability,
piutang yang baik, yang dipantau dengan              monitored by the size of receivables value that
besarnya nilai piutang yang sudah jatuh tempo        have been overdue and average receivables
dan hari rata-rata piutang. Hari rata-rata piutang   days. The average receivables days in 2025 was
tahun 2025 adalah 3,07 hari. Untuk memitigasi        3.07 days. To mitigate risks, we established an
risiko, kami telah membentuk cadangan piutang        allowance for accounts receivable considering
mengingat kondisi yang dihadapi saat ini dapat       the current conditions that may affect the
berpengaruh kepada kelayakan piutang yang            feasibility of the Company’s receivables.
dimiliki oleh Perusahaan.




Struktur Modal
Capital Structure
[SEOJK 2.f.3] [ACGS C.3.1]




Perusahaan memiliki kebijakan untuk menjaga          The Company has a policy to maintain a
keseimbangan antara modal sendiri (ekuitas) dan      balance between equity and debt. Periodically,
utang. Manajemen secara berkala mengevaluasi         the management evaluates the capital structure
perkembangan struktur modal supaya tetap             development to be able to support growth and
menunjang pertumbuhan dan berada di dalam            still in the risk tolerance limit determined by the
batas toleransi risiko yang telah ditetapkan oleh    Management. Internal cash is prioritized for new
Manajemen. Kas internal diprioritaskan untuk         projects, while related units will evaluate each
proyek-proyek baru, sementara unit-unit terkait      project to determine the right capital structure.
akan melakukan evaluasi terhadap setiap proyek
untuk menentukan struktur modal yang tepat.

Pada tahun 2025, Perusahaan mempertahankan           In 2025, the Company maintained larger equity
modal sendiri yang lebih besar daripada utang, di    than debt, whereas Total Equity was 84.75% of the
mana Jumlah Ekuitas adalah 84,75% dari Total Aset.   Total Assets.




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Ikatan Material dan Realisasi
Investasi Barang Modal
Material Commitments and Actual Investments
for Capital Goods
[SEOJK 2.f.6] [SEOJK 2.f.7]




Pada tahun 2025, Perusahaan tidak memiliki                               In 2025, the Company did not have material
ikatan material yang lebih dari satu tahun untuk                         commitments of more than one year for capital
investasi barang modal. Perusahaan telah                                 expenditure. The Company spent IDR673.06 billion
membelanjakan Rp673,06 miliar untuk investasi                            on capital investment with details below.
barang modal dengan rincian di bawah ini.


                                              Investasi Barang Modal Investment in Capital Goods
    Rp Miliar IDR Billion

                                       5,98


                              198,25                                   Tanah yang belum                 Aset Tetap
                                                                       dikembangkan                     Property & Equipment
                                                                       Land Under Development


                                                                       Properti Investasi               Aset Hak-Guna
                            8,09                                       Investment Properties            Right-of-Use Assets

                                               460,74




Informasi dan Fakta
Material Setelah Tanggal
Laporan Akuntan
Material Information and Facts Subsequent
to the Accountant’s Report Date
[SEOJK 2.f.8]




Tidak ada informasi dan fakta material yang                              There were no material information and facts
terjadi setelah tanggal laporan akuntan yang                             subsequent to the accountant’s report date that
perlu disampaikan.                                                       must be disclosed.




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      Management Discussion and Analysis




Prospek Usaha Perusahaan
Business Prospects of the Company
[SEOJK 2.f.9]




Industri properti masih memiliki prospek yang            The property industry still holds very promising
sangat menjanjikan, didukung oleh besarnya jumlah        prospects, supported by Indonesia’s large
penduduk Indonesia serta berbagai target investasi       population and various investment targets set
yang dicanangkan pemerintah. Pada tahun 2026,            by the government. In 2026, the economy is
perekonomian diperkirakan tetap berada pada              expected to remain on a growth path, in line
jalur pertumbuhan, seiring dengan meningkatnya           with increasing consumer confidence from the
kepercayaan konsumen sejak awal tahun.                   beginning of the year.

Namun demikian, terdapat sejumlah dinamika               However, there are a number of dynamics that
yang perlu terus dicermati oleh Perusahaan               companies and property industry players in
maupun pelaku industri properti secara umum.             general need to continue monitoring. These
Tantangan tersebut terutama berkaitan dengan             challenges primarily relate to the still-unfavorable
kondisi geopolitik global yang masih kurang              global geopolitical conditions and foreign
kondusif, serta adanya ekspektasi investor               investors’ expectations for various structural
asing terhadap berbagai perbaikan struktural di          improvements in Indonesia before the investment
Indonesia sebelum peringkat investasi kembali            grade returns to its original level in early 2025.
pulih seperti pada awal tahun 2025.

Dalam konteks tersebut, tahun 2026 diperkirakan          In this context, 2026 is expected to be a recovery
menjadi periode pemulihan yang ditandai oleh             period marked by relatively moderate growth,
pertumbuhan yang relatif moderat, dengan                 with varying rates of development across each
laju perkembangan yang berbeda-beda di tiap              property subsector. Meanwhile, Bank Indonesia
subsektor properti. Di sisi lain, Bank Indonesia         is expected to adopt a more balanced policy
diperkirakan akan mengambil kebijakan yang               throughout 2026. If this policy is accompanied by
lebih seimbang sepanjang tahun 2026. Apabila             looser liquidity, this could open up further growth
kebijakan ini diiringi dengan likuiditas yang lebih      opportunities for the property sector.
longgar, kondisi tersebut dapat membuka ruang
pertumbuhan yang lebih baik bagi sektor properti.




Perbandingan Target dan
Realisasi Tahun 2025
2025 Comparison of Target and Realization
[SEOJK 2.f.10]




Pada tahun ini, Perusahaan         menghadapi            This year, the Company faced a challenging
dinamika yang menantang sehingga pencapaian              dynamics that the marketing sales achievement
target prapenjualan adalah Rp1,76 triliun atau           was IDR1.76 trillion or 80.73% compared to the 2025
80,73% dari target 2025 sebesar Rp2,18 triliun.          target of IDR2.18 trillion.

Prapenjualan residensial tahun 2025 tercatat             Residential marketing sales in 2025 was IDR1,36
Rp1,36 triliun atau 93,15% dari target Rp1,46 triliun.   trillion, or 93.15% of the IDR1.46 trillion target.
Prapenjualan Commercial tercatat sebesar Rp404           Commercial marketing sales were IDR404 billion,
miliar atau 56,15% dari target Rp719,40 miliar.          or 56.15% of the IDR719.40 billion target.



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Perusahaan juga berhasil mencatatkan Pendapatan          The Company also managed to record
Usaha sebesar Rp2,73 triliun, 115,19% dari target awal   Revenues of IDR2.73 trillion, 115.19% of the initial
tahun yang ditetapkan sebesar Rp2,37 triliun. Sejalan    target set IDR2.37 trillion. In line with that, the
dengan itu, Laba Tahun Berjalan Perusahaan               Company’s Profit for the Year was recorded at
tercatat Rp623,59 miliar atau 24,72% dari target awal    IDR623.59 billion or 24.72% of the initial target
tahun yang ditetapkan sebesar Rp2,52 triliun.            set at IDR2.52 trillion.

Struktur modal dan kebijakan Perusahaan                  The Company’s capital structure and policies
tidak berubah, sesuai target, yaitu menjaga              have not changed, as targeted, that is to maintain
keseimbangan antara ekuitas dan utang.                   balance between equity and debt.




Proyeksi 2026
2026 Projections
[SEOJK 2.f.11]




Mempertimbangkan         kondisi-kondisi    yang         Considering the conditions emerging at the end
nampak di akhir tahun 2025 dan awal tahun                of 2025 and the beginning of 2026, the Company
2026,     Perusahaan      menetapkan       target        has set its 2026 presales target at IDR2.00 trillion.
prapenjualan 2026 di angka Rp2,00 triliun. Angka         This figure reflects a moderate outlook for 2026
ini mencerminkan pandangan yang moderat                  demand. Grand Wisata and Kota Wisata remain
atas permintaan tahun 2026. Grand Wisata dan             significant contributors to the Company’s
Kota Wisata tetap menjadi kontributor signifikan         performance.
bagi kinerja Perusahaan.

Segmen residential ditargetkan akan berkontribusi        The residential segment is targeted to contribute
sebesar 67,50%, atau Rp1,35 triliun, sementara           67.50%, or IDR1.35 trillion, while the commercial is
segmen      commercial      ditargetkan    untuk         targeted to contribute 32.50% or IDR650 billion.
berkontribusi sebesar 32,50%, atau Rp650 miliar.




Promosi dan Pemasaran
Promotion and Marketing
[SEOJK 2.f.12]




Pemasaran produk Perusahaan dilaksanakan                 The Company’s product marketing was
melalui pendekatan yang terstruktur dan                  implemented through a structured approach
berbasis analisis yang komprehensif. Perusahaan          based on comprehensive analysis. The Company
senantiasa melakukan kajian mendalam atas                consistently conducts in-depth studies of
kondisi permintaan pasar, perkembangan tren              market demand conditions, property trends, and
properti, serta mempertimbangkan berbagai                considers various relevant internal and external
faktor internal dan eksternal yang relevan.              factors. The results of these studies serve as the
Hasil kajian tersebut menjadi landasan dalam             basis for formulating targeted, effective and
perumusan strategi pemasaran yang tepat                  efficient marketing strategies tailored to the
sasaran, efektif dan efisien sesuai dengan               characteristics of each product.
karakteristik masing-masing produk.

Sejalan  dengan   perbedaan    karakteristik             In line with the different characteristics and market
dan segmentasi pasar di setiap proyek,                   segmentation of each project, the Company
Perusahaan menerapkan strategi pemasaran                 implements a tailored marketing strategy. In


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      Management Discussion and Analysis




yang disesuaikan secara spesifik. Dalam                   its implementation, the project manager is
pelaksanaannya, manajer proyek bertanggung                responsible for developing an innovative and
jawab untuk menyusun strategi pemasaran yang              measurable marketing strategy, which is then
inovatif dan terukur, yang selanjutnya diajukan           submitted to the Directors for approval before
kepada Direksi untuk mendapatkan persetujuan              implementation.
sebelum diimplementasikan.

Untuk memastikan efektivitas pelaksanaan                  To ensure effective marketing implementation,
pemasaran, Perusahaan menyediakan kantor                  the Company provides marketing offices in each
pemasaran di setiap kawasan proyek yang                   project area, operating seven days a week, to
beroperasi tujuh hari dalam seminggu, sehingga            provide optimal service and information access
mampu memberikan layanan dan akses informasi              to potential customers.
yang optimal bagi calon konsumen.

Selaras dengan perkembangan digital, Perusahaan           In line with digital developments, the Company
terus memperkuat pemanfaatan teknologi dalam              continues to strengthen the use of technology to
mendukung aktivitas pemasaran dan meningkatkan            support marketing activities and enhance the
pengalaman konsumen. Calon pembeli dapat                  customer experience. Prospective buyers can
mengakses katalog digital serta melakukan 360o            access digital catalogues and take 360° virtual tours
virtual tour sebagai bagian dari proses pengenalan        as part of the product introduction process before
produk sebelum melakukan kunjungan langsung               visiting the demonstration home, In project areas,
ke rumah contoh. Di area proyek, Perusahaan               the Company also complements its marketing
juga melengkapi sarana pemasaran dengan                   facilities with professionally developed mock-ups
penyediaan maket yang dikembangkan secara                 supported by competent marketing staff.
profesional dan didukung oleh tenaga pemasaran
yang kompeten.

Selain penguatan kanal digital, Perusahaan secara         In addition to strengthening digital channels, the
konsisten mengelola kehadiran di media sosial             Company consistently manages its social media
melalui akun resmi serta akun khusus masing-              presence through official accounts as well as
masing proyek guna menyampaikan informasi                 dedicated accounts for each project to continuously
dan pembaruan terkini secara berkelanjutan. Di            deliver the latest information and updates. Meanwhile,
sisi lain, pemasaran melalui media konvensional,          marketing through conventional media, such as
seperti billboard, iklan di bioskop dan televisi, tetap   billboards, cinema advertisements and television,
dilakukan sebagai bagian dari strategi komunikasi         continues as part of an integrated communications
terpadu, termasuk melalui publikasi dan wawancara         strategy, including publications and exclusive
eksklusif dengan media massa untuk meningkatkan           interviews with mass media outlets to increase
eksposur produk-produk unggulan Perusahaan.               exposure to the Company’s flagship products.

Pada tahun ini, Perusahaan kembali menggelar              This year, the Company is again holding a
program nasional bertemakan Move in Quickly               national program themed Move in Quickly
(MIQ). Program ini dibagi dalam 3 periode                 (MIQ). This program was divided into three
sepanjang tahun 2025 dan memberikan                       periods throughout 2025 and provides additional
stimulus tambahan bagi masyarakat mulai dari              incentives for the public, including price
keringanan harga hingga 25% dan atau subsidi DP           reductions of up to 25% and/or DP subsidies of up
hingga 15%. Pilihan promo lainnya yang ditawarkan         to 15%. Other promotional options offered by the
program MIQ seperti Free BPHTB, bebas biaya KPA           MIQ program include Free BPHTB, free KPA fees of
hingga 2,5%, bebas IPL hingga 1 tahun, voucher            up to 2.5%, free IPL for up to one year, voucher
furniture hingga 10%, voucher electronic hingga           furniture of up to 10%, electronic vouchers of up to
4% dan hadiah konsumen hingga 3,5%, sesuai                4%, and consumer prizes of up to 3.5%, depending
dengan produk pilihan konsumen. Konsumen                  on the product chosen by the consumer.
juga berkesempatan mendapatkan double lucky               Consumers also have the opportunity to win a
draw berupa tambahan diskon sampai dengan                 double lucky draw with an additional discount of
3,5% dan khusus nasabah prioritas bank rekanan            up to 3.5%. Priority customers of Sinar Mas Land
Sinar Mas Land akan mendapatkan tambahan                  partner banks will receive an additional direct
hadiah langsung berupa voucher belanja sampai             prize in the form of shopping voucher of up to
dengan 2 juta Rupiah.                                     IDR2 million.



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Dividen
Dividends
[SEOJK 2.f.13] [ACGS C.2.4]




Perusahaan memiliki kebijakan dividen untuk                                        The Company adheres to a dividend policy that
membayar dividen setidaknya satu tahun sekali,                                     stipulates the distribution of dividends at least
maksimum sebesar 30% dari jumlah Laba Bersih                                       annually, capped at 30% of the Company’s Net
Perusahaan, dengan tidak mengabaikan tingkat                                       Profit, while considering the Company’s financial
kemampuan Perusahaan. Sejak penawaran umum                                         capacity. It is noteworthy that the Company has
saham perdana sampai sekarang, Perusahaan                                          maintained this dividend policy unchanged since
belum pernah merubah kebijakan dividen.                                            its initial public offering.

Keputusan Direksi sebagai Pengganti Rapat                                          The Directors’ Decision in Lieu of the Directors’
Direksi dan Keputusan Dewan Komisaris sebagai                                      Meeting and the Board of Commissioners’ Decision
Pengganti Rapat Dewan Komisaris tanggal 2                                          in Lieu of the Board of Commissioners’ Meeting
Desember 2024 menetapkan pembayaran dividen                                        dated December 2nd, 2024, determined the interim
interim yang telah dibagikan pada 23 Desember                                      dividend that was then distributed on December
2024 sebesar Rp703 miliar atau Rp380 per saham.                                    23rd, 2024, amounting to IDR703 billion or IDR380 per
RUPST 2025 kemudian menyetujui dividen interim                                     share. The 2025 AGMS then approved the interim
tersebut menjadi dividen final yang diperhitungkan                                 dividend to be the final dividend that was calculated
dari Laba Bersih Perusahaan tahun buku 2024                                        from the Company’s Net Profit for the 2024 financial
sebesar Rp851,76 miliar.                                                           year amounting to IDR851.76 billion.

                                            Jumlah Saham         Jumlah                            Rasio
                                                                             Dividen per
Tahun Buku           Laba Bersih                Beredar          Dividen                        Pembayaran             Tanggal            Tanggal Pembayaran
                                                                             Saham (Rp)
 Financial            (Rp miliar)              (lembar)         (Rp miliar)                       Dividen           Pengumuman                 [ACGS A.1.1]
                                                                             Dividend per
    Year         Net Profit (IDR billion)    Outstanding      Total Dividend                      Dividend        Announcement Date          Payment Date
                                                                              Share (IDR)
                                            Shares (shares)    (IDR billion)                    Payout Ratio


   2024                   852               1.850.000.000           703             380            82,53%          20 Juni 2025*           23 Desember 2024
                                                                                                                       June                    December


   2023                  1.066              1.850.000.000

                                                                                                              **
   2022                   748               1.850.000.000



Catatan Notes
 *) Tanggal RUPST yang memberikan persetujuan atas dividen interim untuk menjadi dividen final.
   The date of AGMS that approved the interim dividend to be a final dividend.

**) Sisa Laba Bersih setelah disisihkan dari dana cadangan, dibukukan sebagai laba ditahan untuk keperluan modal kerja.
   The balance of Net Profit after being deducted of the reserve fund, was recorded as retained earnings for working capital purposes.




Realisasi Dana Hasil
Penawaran Umum
Actual Use of Public Offering Proceeds
[SEOJK 2.f.14]




Pada tahun ini, Perusahaan tidak memiliki kewajiban                                The Company is not obligated to report on its
untuk melaporkan dana hasil penawaran umum.                                        public offering proceeds this year.


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      Management Discussion and Analysis




Informasi Material
Material Information
[SEOJK 2.f.15]




Pada tahun ini, tidak ada informasi material,        This year, there was no material information,
baik berupa investasi, ekspansi, divestasi,          whether in the form of investment, expansion,
penggabungan/peleburan          usaha,  akuisisi,    divestment, merger/amalgamation, acquisition,
restrukturisasi utang/modal, transaksi material,     debt/capital restructuring, material transactions,
transaksi afiliasi, dan transaksi benturan           affiliated transactions, and conflict of interest
kepentingan di luar transaksi rutin.                 transactions outside of routine transactions.

Transaksi Afiliasi                                   Affiliated Transactions
Perusahaan dalam melaksanakan transaksi              In doing the affiliated transactions, the Company
afiliasi mengacu kepada POJK No.42/POJK.02/2020      refers to POJK No.42/POJK.02/2020 pertaining
tentang Transaksi Afiliasi dan Transaksi Benturan    to Affiliated Transactions and Transactions with
Kepentingan (“POJK No.42”). [ACGS A.9.2]             Conflicts of Interest (“POJK No.42”).

Selama tahun 2025, Perusahaan melakukan              During 2025, the Company engaged in several
berbagai transaksi afiliasi yang secara langsung     affiliated transactions directly and indirectly
maupun tidak langsung terkait dengan kegiatan        linked to its core business activities, including:
usaha utama, di antaranya:

•   Penempatan Kas dan Setara Kas;                   •   Placement of Cash and Cash Equivalent;
•   Sewa menyewa; dan                                •   Leases; and
•   Penyediaan jasa asuransi terhadap kerusakan      •   Provision of insurance services for damage to
    pada aset Perusahaan.                                the Company assets.

Sebagai bagian dari pengendalian internal dan        As an integral aspect of our internal control
praktik Governansi Perusahaan serta melindungi       and Corporate Governance protocols, aimed
kepentingan pemegang saham minoritas, setiap         at safeguarding the interests of our minority
transaksi afiliasi, terutama yang merupakan          shareholders, any affiliated transactions —
bagian dari kegiatan usaha, yang dilakukan untuk     particularly those integrated into revenue-
menghasilkan pendapatan dan dilakukan secara         generating business operations that occur
rutin, berulang dan/atau berkelanjutan, didasarkan   routines, recurring and/or persistently — are
pada kriteria dasar berikut: [ACGS A.9.1]            governed by the following fundamental criteria:

•   Transaksi tersebut dikaji perlu sebagai          •   Such transactions are essential for conducting
    pelaksanaan kegiatan usaha utama Perusahaan;         the core business activities of the Company;
•   Syarat dan kondisi transaksi berdasarkan asas    •   The terms and conditions are established
    komersial dan arm’s-length, nilai pasar wajar        upon commercial principles and on an arm’s-
    dan tidak lebih buruk dari syarat dan kondisi        length basis, ensuring fair market value
    untuk transaksi serupa yang terdapat di pasar        and aligning with prevailing standards for
    pada saat terjadinya transaksi, sesuai dengan        comparable transactions in the market at the
    manfaat yang diterima Perusahaan baik                time of execution. They are structured to be
    secara langsung maupun tidak langsung; dan           commensurate with the benefits accrued to
                                                         the Company, both directly and indirectly; and
•   Transaksi tidak bertentangan dengan peraturan    •   The transactions follow the current laws and
    perundang-undangan di Republik Indonesia.            regulations in the Republic of Indonesia.

Direksi menyatakan bahwa di awal setiap              The Directors confirm that in the beginning of
transaksi afiliasi yang merupakan kegiatan usaha     all affiliated transactions, particularly those
yang dijalankan dalam rangka menghasilkan            generating revenue that occur routines, recurring
pendapatan usaha dan dijalankan secara rutin,        and/or persistently, have been conducted




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berulang dan berkelanjutan, telah dilaksanakan                    following proper procedures to ensure compliance
berdasarkan prosedur yang memadai dalam                           with common business practices and the arm’s-
memastikan bahwa transaksi dilaksanakan                           length principle. These transactions have been
sesuai dengan praktik bisnis yang berlaku umum                    disclosed to the BOC through the Audit Committee
dan memenuhi prinsip transaksi yang wajar                         and will be presented to the shareholders in
(arm’s-length principle). [ACGS A.9.1] Transaksi ini              the upcoming GMS or in shareholder reports,
telah dilaporkan kepada BOC melalui Komite                        including this Annual Report.
Audit [SEOJK 2.f.15.f (1) (2)] [ACGS A.8.1] dan akan dilaporkan
kepada pemegang saham dalam RUPS
mendatang atau laporan-laporan kepada para
pemegang saham, termasuk Laporan Tahunan
ini. [ACGS C.4.1]

Penyajian Sifat dan Hubungan Transaksi Afiliasi                   The presentation of the Nature and Relationship of
dalam rangka menghasilkan pendapatan                              the Affiliated Transactions that generate revenue
usaha dan dijalankan secara rutin, berulang                       that occurs routine, recurring and/or persistently,
dan berkelanjutan, telah tertuang pada Laporan                    can be found in the Company’s Consolidated
Keuangan Konsolidasian Perusahaan tahun                           Financial Statements for the financial year on
buku pada No.42 tentang Sifat dan Transaksi                       No.42 concerning the Nature and Transactions of
Hubungan Berelasi. [ACGS C.4.2]                                   the Related Parties.

Dalam Piagam Direksi/BOC diatur bahwa setiap                      The Charter for the Directors/BOC stipulates
anggota Direksi/BOC yang secara pribadi                           that any member of the Directors/BOC, who has,
dengan cara apapun baik secara langsung                           either directly or indirectly, conflict of interest in a
maupun secara tidak langsung mempunyai                            transaction, contract or proposed contract, shall
benturan kepentingan dalam suatu transaksi,                       declare the nature of the interest in the Meeting
kontrak atau kontrak yang diusulkan dalam mana                    and shall not have the right to participate in voting
Perusahaan menjadi salah satu pihaknya, maka                      concerning matters related to the transaction
anggota Direksi/BOC tersebut harus menyatakan                     or contract, unless declared otherwise by the
benturan kepentingan yang dimiliki dalam Rapat                    Meeting.
dan tidak berhak untuk ikut dalam pengambilan
suara mengenai hal-hal yang berhubungan
dengan transaksi atau kontrak tersebut, kecuali
Rapat menentukan lain. [ACGS A.8.2] [ACGS App.B.4.1]

Perusahaan tidak memiliki kebijakan memberikan                    The Company does not have any policy to provide
pinjaman kepada Direksi dan BOC. [ACGS A.8.3]                     loans to the Directors and BOC.

Seluruh transaksi afiliasi sepanjang tahun 2025                   All affiliated transactions associated with the
telah sesuai dengan kriteria dasar yang disebutkan                year 2025 were carried out in adherence to the
di atas dan telah memenuhi POJK No.42.                            fundamental criteria mentioned above and in
                                                                  alignment with POJK No.42.




                                                                                          2025 ANNUAL REPORT          137
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      Analisis dan Pembahasan Manajemen
      Management Discussion and Analysis




Perubahan Peraturan
Perundang-undangan
Changes in Legislations
[SEOJK 2.f.16]




Pada tahun 2025, ada beberapa perubahan               In 2025, there were several changes in laws and
peraturan perundang-undangan yang relevan             regulations relevant to the property industry,
dengan industri properti, antara lain:                among others:
1. Peraturan Menteri Keuangan No. 13 Tahun 2025       1. Regulation of the Minister of Finance No.
   tentang fasilitas PPN DTP untuk properti dengan       13 of 2025 concerning PPN DTP facilities for
   harga jual sampai dengan Rp5 miliar, dengan           properties with a selling price of up to IDR5
   dasar pengenaan pajak sampai dengan                   billion, with a tax base of up to IDR2 billion, which
   Rp2 miliar, yang kemudian diperpanjang                was then extended to 2027 with Regulation of
   hingga tahun 2027 dengan Peraturan Menteri            the Minister of Finance No. 60 of 2025.
   Keuangan No.60 Tahun 2025.
2. Peraturan Pemerintah (PP) No. 28 tahun 2025        2. Government Regulation (PP) No. 28 of 2025
   mengganti PP No. 5 Tahun 2021 tentang                 replacing PP No. 5 of 2021 concerning Risk-
   Perizinan Berusaha Berbasis Risiko yang               Based Business Licensing, which tightens
   memperketat perizinan berusaha dalam sektor           business licensing in the property sector.
   properti.                                          3.

Akan tetapi, sesuai hasil proses telaahan internal,   However, after going through internal review
Perusahaan memandang bahwa perubahan                  process, the Company views that these changes
tersebut tidak memiliki dampak signifikan atau        do not have a significant impact or only have
hanya memiliki relevansi kecil kepada kinerja         minor relevance to the Company’s performance.
Perusahaan.




Perubahan Kebijakan
Akuntansi dan Pelaporan
Keuangan
Changes in Accounting and Financial Reporting Policies
[SEOJK 2.f.17]




Efektif 1 Januari 2025, terdapat satu perubahan       Effective on January 1st, 2025, there was one change
kebijakan akuntansi yang tidak berdampak              in accounting which have no material impact
material bagi Perusahaan. Perubahan tersebut          on the Company. The change was PSAK No.221
adalah PSAK No.221 mengenai Pengaruh                  on The Effect of Changes in Foreign Exchange
Perubahan Kurs Valuta Asing. Perubahan ini tidak      Rates. The change had no material impact on the
menimbulkan perubahan material terhadap               amounts reported in the consolidated financial
jumlah-jumlah yang dilaporkan dalam laporan           statements.
keuangan konsolidasian.




138        LAPORAN TAHUNAN 2025
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2025 ANNUAL REPORT      139
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Governansi
Perusahaan
Corporate Governance
Page 141
                                  20
                                  25

Artist’s Impressions - Southgate Apartment
Jakarta
Page 142
      Governansi Perusahaan
      Corporate Governance




Landasan dan Prinsip
Governansi Perusahaan
Foundation and Principles of Corporate Governance

Kami menyadari bahwa setiap tindakan kami                We acknowledge that each action we take as
sebagai perusahaan properti yang terkemuka               a leading property company has a substantial
memiliki dampak signifikan bagi para pemegang            impact on our shareholders and stakeholders.
saham dan pemangku kepentingan kami. Sebagai             Moreover, being a publicly listed company listed
perusahaan publik yang terdaftar di BEI dengan           at BEI with significant market capital, particularly
kapitalisasi pasar yang signifikan khususnya di sektor   within the property sector, we must prioritize the
properti, kami berkomitmen untuk memastikan              fair and equitable treatment of all shareholders
perlakuan yang adil dan tepat bagi setiap                and stakeholders.
pemegang saham dan pemangku kepentingan.

Agar setiap tindakan kami menghasilkan dampak            To ensure that each action yields a positive
yang positif, kami juga mengadopsi prinsip-              impact, we also adopt the corporate governance
prinsip governansi perusahaan dengan merujuk             principles by refer to 2021 Indonesian Corporate
pada Pedoman Governansi Korporat Indonesia               Governance Guidelines (PUGKI). We develop
2021 (PUGKI). Kami menyusun ketentuan internal           internal Corporate Governance provisions
Governansi Perusahaan yang disesuaikan                   that are tailored to our needs, our operational
dengan kebutuhan, lingkungan beroperasi kami,            environment, the business size and complexity,
ukuran dan kompleksitas bisnis, serta sifat risiko       as well as the risks and challenges faced by the
dan tantangan yang dihadapi oleh Perusahaan.             Company.

Kami mengadopsi PUGKI berdasarkan 4 (empat)              We adopted PUGKI based on 4 (four) pillars,
pilar yaitu perilaku beretika, akuntabilitas,            namely    ethical   behavior,     accountability,
transparansi dan keberlanjutan (ETAK).                   transparency and sustainability (ETAK).

Direksi diberikan tanggung jawab yang besar              The Directors plays a crucial responsibility to
untuk menekankan komitmen di dalam                       emphasize commitment in the implementation
penerapan      Governansi  Perusahaan,    yang           of the Corporate Governance, which is then
kemudian dituangkan di dalam Kode Etik yang              embodied in the Code of Ethics that applies to
berlaku bagi Perusahaan hingga ke semua Entitas          the Company includes its Subsidiaries, Associates
Anak, Perusahaan Asosiasi dan Ventura Bersama.           and Joint Ventures.

Selain Kode Etik, panduan-panduan, piagam-               Apart from the Code of Ethics, guidelines,
piagam, serta standar operasional Perusahaan             charters, as well as the Company’s standard
dapat diakses dengan mudah oleh insan                    of procedures can be easily accessible by all
Perusahaan, sehingga mereka memahami posisi              Company’s personnel, so that they understand
dan peran masing-masing di dalam Perusahaan.             their position and role within the Company.

Kami memandang penting komitmen penerapan                It is crucial to prioritize the commitment
Governansi    Perusahaan         secara konsisten        of consistency in adopting the Corporate
agar hal ini melekat dan menjadi budaya                  Governance, ensuring it is embedded in the
kerja Perusahaan dan budaya setiap insan                 Company’s culture and embraced by every
Perusahaan. Ini termasuk komitmen kami dalam             employee. Including our commitment to comply
mematuhi semua peraturan yang berlaku di                 to all the relevant regulations in Indonesia, as
Indonesia, termasuk perkembangan peraturan               well as the capital market regulations, extending
di pasar modal, di dalam Perusahaan hingga ke            within our Company to its Subsidiaries, Associates
semua Entitas Anak, Perusahaan Asosiasi dan              and Joint Ventures.
Ventura Bersama. [PUGKI 7.1.1.5]




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Secara berkala, Direksi mengevaluasi dan            The Directors periodically assess and enhance
mengembangkan         penerapan       Governansi    our Corporate Governance practices to align with
Perusahaan agar senantiasa sejalan dengan           the best standards in the industry, country and
praktik terbaik di industri dan negara, bahkan      even region. This strategy is crucial for fostering
secara regional. Hanya dengan itu kami mampu        resilience and ensuring significant contributions
membangun daya tahan dan berkontribusi              to business sustainability.
kepada bisnis yang berkelanjutan. [PUGKI 5.1.1]




Struktur Pedoman
Governansi Perusahaan
Corporate Governance Structure

Struktur Pedoman Governansi Perusahaan              The Corporate Governance Guidelines structure
mengacu pada PUGKI yang terdiri dari tiga elemen    is referred to the PUGKI framework, which
utama: Prinsip, Rekomendasi dan Panduan. Prinsip    comprises three primary components: Principles,
menggambarkan keluaran yang diharapkan              Recommendations and Guidance. The Principles
dari tata kelola yang baik. Rekomendasi berisi      outline the anticipated outcomes of effective
praktik yang sebaiknya diterapkan untuk             governance. Recommendations outline the practices
mencapai prinsip tersebut, sementara Panduan        that should be adopted to fulfill these principles, while
memberikan penjelasan tambahan dan contoh           Guidance provides additional explanations and
praktik yang direkomendasikan.                      examples of recommended practices.

Penerapan pedoman ini menggunakan pendekatan        The implementation of this guideline follows
“Terapkan atau Jelaskan” (Apply or Explain),        the “Apply or Explain” approach. The Company
Perusahaan     mengimplementasikan       prinsip-   is committed to adhering to governance
prinsip tata kelola dengan cara yang sesuai         principles appropriately; should it be unable
atau memberikan penjelasan jika tidak dapat         to do so, an explanation will be provided. The
menerapkannya. Rekomendasi dan Panduan              Recommendations and Guidance outlined herein
yang diberikan merupakan standar global yang        represent global standards that supplement
melengkapi regulasi yang sudah ada, sehingga        existing regulations, ensuring that laws and
peraturan perundangan tetap menjadi dasar utama.    regulations remain the foundational framework.

Penerapan pedoman tidak hanya berupa                The adoption of these guidelines goes beyond
kepatuhan administratif, tetapi juga mencerminkan   mere administrative compliance; it signifies a
perubahan budaya dan model bisnis yang              cultural shift and a business model focused on
berorientasi pada nilai jangka panjang. Direksi     long-term value. The Directors and the BOC will
dan BOC secara bertahap akan terus menerus          gradually continue carry out these guidelines and
menerapkan pedoman ini serta memastikan             ensure that employees receive proper training.
karyawan mendapat pelatihan yang memadai.

Untuk menjaga transparansi dan kepercayaan          To maintain transparency and stakeholder
pemangku kepentingan, Perusahaan melaporkan         trust, the Company includes a report on the
penerapan Rekomendasi dan Panduan dalam             implementation of Recommendations and
Laporan Tahunan, termasuk bukti implementasi.       Guidelines in its Annual Report, along with
Pada bagian yang belum diterapkan, Perusahaan       supporting evidence of such implementation. For
telah menjelaskan alasannya serta alternatif        any areas that have not been implemented, the
yang dilakukan. Untuk lebih jelasnya informasi      Company provides explanations and alternative
ini disampaikan pada halaman 212-217 Laporan        measures taken. For further details, please refer
Tahunan ini.                                        to page 212-217 of this Annual Report.



                                                                            2025 ANNUAL REPORT          143
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      Governansi Perusahaan
      Corporate Governance




Organ-organ     penyelenggara    Governansi                      The Corporate Governance bodies, including
Perusahaan yang terdiri dari Rapat Umum                          the General Meeting of Shareholders, the
Pemegang Saham, Dewan Komisaris, Direksi dan                     Board of Commissioners, the Directors and the
Komite-komite, masing-masing akan dijelaskan                     Committees, will be detailed in the following
pada bagian di bawah ini.                                        sections.




Rapat Umum Pemegang
Saham (RUPS)
General Meeting of Shareholders (GMS)

RUPS adalah pengambil keputusan tertinggi                        The GMS functions as the highest decision-
dalam     Perusahaan,     sesuai  dengan    AD                   making body within the Company, aligning with
Perusahaan. RUPS dapat mengambil keputusan                       the AoA. The GMS holds the authority to enact
yang sah dan mengikat bila kuorum kehadiran                      legally binding resolutions, provided that the
terpenuhi, yaitu 1/2 (satu per dua) bagi RUPST                   attendance quorum is met, which constitutes
dan 2/3 (dua per tiga) bagi RUPSLB dari jumlah                   half of the total shares with voting rights for an
saham yang memiliki hak suara.                                   AGMS and two-thirds for an EGMS.

Pada tahun 2025, Perusahaan menyelenggarakan                     In 2025, the Company convened one AGMS for the
1 (satu) kali RUPST untuk tahun buku 2024 dan                    fiscal year 2024 and did not conduct any EGMS.
tidak menyelenggarakan RUPSLB.


Tata Tertib RUPS                                                 Rules of the GMS
Berikut adalah tata tertib RUPS yang telah                       The following are the rules of the GMS that were
diinformasikan bersama dengan Pemanggilan RUPS:                  distributed along with the GMS Notice:

1. Rapat akan diselenggarakan dalam Bahasa                       1. The Meeting will be carried out in Indonesian.
   Indonesia. Bagi Pemegang Saham yang                              The Shareholders that cannot converse in
   tidak dapat berbahasa Indonesia, dapat                           Bahasa, they can submit questions and
   menyampaikan pertanyaan dan pendapatnya                          opinions in English.
   dalam bahasa Inggris.
2. Rapat akan dipimpin oleh salah seorang                        2. The Meeting will be chaired by one of the
   anggota Dewan Komisaris.                                         members of the Board of Commissioners.
3. Bagi pemegang saham yang tidak dapat hadir                    3. The Shareholders who are unable to attend the
   secara fisik dapat mengikuti jalannya kegiatan                   Meeting in person can view the proceedings
   Rapat melalui live streaming pada situs web                      via live streaming on the KSEI website at akses.
   KSEI akses.ksei.co.id. [PUGKI 7.3.2.1] [PUGKI 7.3.2.5]           ksei.co.id.
4. Untuk Rapat ini berlaku ketentuan kuorum                      4. The Meeting is in accordance with the
   sebagaimana diatur dalam AD, UUPT dan/                           provisions in the AoA, UUPT and/or POJK No.15/
   atau POJK No.15/POJK.04/2020 (“POJK No.15”)                      POJK.04/2020 (POJK No.15”), namely “The
   yaitu “Rapat dapat dilangsungkan jika dalam                      Meeting can be carried out provided that the
   Rapat lebih dari ½ (satu per dua) bagian dari                    attendance quorum is met, which constitutes
   jumlah seluruh saham dengan hak suara yang                       half of the total shares with voting rights.”
   sah hadir atau diwakili dalam Rapat.”
5. Semua acara Rapat dibahas dan dibicarakan                     5. Meeting agendas are consistently presented
   secara berkesinambungan.                                         and discussed.
6. Setelah selesai membicarakan setiap acara                     6. Following discussing each meeting agenda,
   Rapat, Ketua Rapat/Pimpinan Rapat akan                           the Chairperson of the Meeting will provide
   memberikan       kesempatan              kepada        Para      an opportunity for the Shareholders of the



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   Pemegang Saham atau kuasanya untuk                             Company or their proxies to submit questions,
   mengajukan pertanyaan, pendapat, usul dan/                     opinions, proposals and/or suggestions before
   atau saran sebelum diadakan pemungutan                         proceeding with the voting process, following
   suara    mengenai   agenda    Rapat   yang                     a specific procedure:
   dibicarakan dengan prosedur sebagai berikut:
   [PUGKI 7.3.2.4] [PUGKI 7.3.2.5]
   a. Hanya Para Pemegang Saham yang                              a. Only Shareholders whose names are
      namanya terdaftar dalam Daftar Pemegang                        registered in the DPS as of May 27th, 2025
      Saham (DPS) per tanggal 27 Mei 2025 pada                       at 16.00 WIB or their proxies as proven by a
      pukul 16.00 WIB atau kuasanya yang dibuktikan                  valid power of attorney, who are entitled to
      dengan surat kuasa yang sah, yang berhak                       submit questions, opinions, proposals and/
      mengajukan pertanyaan, pendapat, usul                          or suggestions in this Meeting;
      dan/atau saran dalam Rapat ini;
   b. Para pemegang saham atau kuasanya yang                      b. Shareholders or their proxies who wish
      ingin mengajukan pertanyaan, pendapat,                         to submit questions, opinions, proposals
      usul dan/atau saran diminta mengangkat                         and/ or suggestions are asked to raise
      tangan agar petugas dapat memberikan                           their hands so that the officer can hand
      Formulir Pertanyaan. Lembar Pertanyaan                         in the Inquiry form. The inquiry form will be
      akan diambil petugas dan diserahkan                            taken by the officer and submitted to the
      kepada Ketua Rapat/Pimpinan Rapat; dan                         Chairperson of the Meeting; and
   c. Ketua     Rapat/Pimpinan       Rapat         akan           c. The Chairperson of the Meeting will
      memberikan jawaban atau tanggapan satu                         provide each answer or response or the
      persatu atau Ketua Rapat/Pimpinan Rapat                        Chairperson of the Meeting may request
      dapat meminta bantuan anggota Direksi dan                      the assistance of members of the Directors
      anggota Dewan Komisaris atau menunjuk                          and members of the BOC or appoint other
      pihak lain untuk menjawab pertanyaan yang                      parties to answer the questions verbally.
      diajukan tersebut secara lisan. [PUGKI 7.3.2.3]
7. Keputusan agenda Rapat dilakukan setelah                    7. All decisions pertaining to the GMS agenda will
   seluruh pertanyaan selesai dijawab dan/atau                    be deliberated following the resolution of any
   sesi tanya jawab telah berakhir.                               outstanding queries and the conclusion of the
                                                                  discussion session.
8. Semua keputusan diambil berdasarkan                         8. All decisions were made following thorough
   musyawarah untuk mufakat. Dalam hal                            deliberation to reach a consensus. If consensus
   keputusan berdasarkan musyawarah untuk                         cannot be reached through deliberation,
   mufakat tidak tercapai maka keputusan Rapat                    the Meeting’s resolutions will be determined
   diambil dengan pemungutan suara dengan                         through a voting process as outlined below:
   prosedur [ACGS A.2.4] [ACGS A.2.10] [PUGKI 7.3.2] sebagai
   berikut:
   a. Hanya para pemegang saham yang                              a. Only shareholders whose names are
      namanya tercatat dalam DPS per tanggal                         registered in the DPS as of May 27th, 2025, or
      27 Mei 2025 atau kuasanya yang dibuktikan                      their proxies as proven by a valid power of
      dengan surat kuasa yang sah, yang berhak                       attorney, are entitled to vote in this Meeting;
      memberikan suara dalam Rapat ini; dan                          and
   b. Pemungutan suara dilakukan dengan cara                      b. Voting is conducted by raising hands in the
      mengangkat tangan, sebagai berikut:                            manner described below:
      Pertama: mereka yang memberikan suara                          First: those who voted blank were asked to
      blanko diminta untuk mengangkat tangan.                        raise their hands.
       [ACGS A.2.9]
       Kedua: mereka yang memberikan suara tidak                     Second: those who voted against were
       setuju diminta untuk mengangkat tangan.                       asked to raise their hands.
       Ketiga: mereka yang tidak mengangkat                          Third: those who did not raise their hands
       tangan berarti menyetujui usul yang diajukan.                 are considered to agree with the proposal.
       • Suara yang dikeluarkan oleh pemegang                        • Votes cast by Shareholders directly
          saham secara langsung dalam Rapat                             at the Meeting for each Agenda will
          untuk setiap agenda akan diperhitungkan                       be consolidated with votes casts by
          bersama dengan suara yang dikeluarkan                         shareholders through e-voting utilizing
          oleh pemegang saham melalui e-voting                          the eASY.KSEI system.
          dengan menggunakan sistem eASY.KSEI.
            [ACGS (B)A.1] [PUGKI 7.3.2.6]


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      Governansi Perusahaan
      Corporate Governance




9. Setiap 1 (satu) saham* memberikan hak                                9. Each 1 (one) share* entitles the holder to cast
   kepada pemegangnya untuk mengeluarkan                                   1 (one) vote. If a shareholder has more than 1
   1 (satu) suara. Apabila seorang pemegang                                (one) share, then he/she is required to vote 1
   saham memiliki lebih dari 1 (satu) saham maka                           (one) time and the vote will represent all the
   ia hanya diminta untuk memberikan suara 1                               shares owned or represented.
   (satu) kali dan suaranya itu mewakili seluruh
   saham yang dimilikinya atau diwakilinya.
   [ACGS App.B.1.1]

*) Perusahaan hanya menerbitkan satu jenis saham. [ACGS A.5.1]
  The Company only issuing one class of share.




Keterbukaan Informasi                                                   Information Disclosure
Keterbukaan informasi terkait RUPST yang diadakan                       Information disclosure related to AGMS held in
pada tahun 2025 adalah sebagai berikut:                                 2025 is as follows:

1. Pemberitahuan mengenai Penyelenggaraan                               1. Announcement of the schedule of the AGMS to
   RUPST, kepada OJK dan BEI melalui surat No.016/                         OJK and BEI by letter No.016/IR-CS/DP/IV/2025
   IR-CS/DP/IV/2025 dan telah dipublikasikan                               and has been published respectively on the
   masing-masing pada situs Perusahaan, BEI                                websites of the Company and BEI also SPEOJK
   serta SPEOJK pada tanggal 30 April 2025.                                website on April 30th, 2025.
2. Penyampaian Pengumuman RUPST melalui                                 2. Submission of the AGMS announcement by
   surat No.021/IR-CS/DP/V/2025 dan telah                                  letter No.021/IR-CS/DP/V/2025 that has been
   dipublikasikan masing-masing pada situs                                 published respectively on the websites of the
   Perusahaan, BEI, SPEOJK dan KSEI tanggal 9                              Company, the BEI, SPEOJK and KSEI on May 9th,
   Mei 2025.                                                               2025.
   Melalui pemberitahuan ini, para pemegang                                In this announcement, the shareholders were
   saham diundang untuk memberikan usulan                                  invited to propose an agenda in the AGMS
   mata acara RUPST sepanjang pemberian                                    provided that the suggestions are made
   usulan tersebut sesuai dengan ketentuan                                 in accordance with article 23 paragraph 1
   persyaratan pasal 23 ayat 1 dan 2 AD                                    and 2 of the Company’s AoA and article 16
   Perusahaan dan pasal 16 ayat 1 dan 2 POJK                               paragraph 1 and 2 of POJK No.15.
   No.15. [ACGS A.2.15] [PUGKI 7.3.2.4]
3. Penyampaian Bukti Iklan Pengumuman RUPST                             3. Submission of the advertisement proof to
   yang telah dipublikasikan di situs BEI dan                              the AGMS’s Announcement that has been
   SPEOJK melalui surat No.024/IR-CS/DP/V/2025                             published respectively on the websites of BEI
   pada tanggal 14 Mei 2025.                                               and SPEOJK by letter No.024/IR-CS/DP/V/2025
                                                                           dated May 14th, 2025.
4. Penyampaian Koreksi Pengumuman RUPST                                 4. Submission of the Amendment AGMS
   melalui surat No.025/IR-CS/DP/V/2025 dan                                announcement by letter No.025/IR-CS/
   telah dipublikasikan masing-masing pada                                 DP/V/2025     that    has   been     published
   situs Perusahaan, BEI, SPEOJK dan KSEI tanggal                          respectively on the websites of the Company,
   20 Mei 2025.                                                            the BEI, SPEOJK and KSEI on May 20th, 2025.
5. Panggilan RUPST melalui surat No.028/IR-CS/                          5. The Invitation to the AGMS through letter
   DP/V/2025 dan telah dipublikasikan masing-                              No.028/IR-CS/DP/V/2025 that has been
   masing di situs Perusahaan, situs BEI, situs                            published respectively in the websites of the
   SPEOJK serta situs KSEI pada tanggal 28 Mei                             Company, the BEI, SPEOJK and KSEI, on May
   2025 dalam bahasa Indonesia dan Inggris.                                28th, 2025, both in Indonesian and English.
   Panggilan ini telah melampirkan agenda,                                 The Invitation includes the agenda, power of
   formulir surat kuasa dan tata tertib RUPS.                              attorney template and rules of the GMS.
   [ACGS A.2.1] [ACGS A.2.4] [ACGS A.2.13] [ACGS A.2.14] [ACGS A.6.1]
   [ACGS A.6.2] [ACGS A.6.5] [PUGKI 7.3.1.1] [PUGKI 7.3.2]




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6. Penyampaian Bukti Iklan Panggilan RUPST                    6. Submission of proof of advertisement of the
   yang telah dipublikasikan masing-masing di                     Invitation to the AGMS, that has been published
   situs BEI dan SPEOJK dengan surat No.031/IR-                   respectively on the websites of the Company,
   CS/DP/VI/2025 tanggal 2 Juni 2025.                             BEI and SPEOJK with letter No. 031/IR-CS/DP/
                                                                  VI/2025 dated June 2nd, 2025.
7. Pelaksanaan RUPST pada hari Kamis, 19 Juni                 7. The implementation of the AGMS on Thursday,
   2025.                                                          June 19th, 2025.
8. Penyampaian       Ringkasan     Risalah    RUPST           8. Submission of Summary of AGMS Result
   melalui surat No.035/IR-CS/DP/VI/2025 dan                      through      letter  No.035/IR-CS/DP/VI/2025
   telah dipublikasikan masing-masing di situs                    and has been published respectively in the
   Perusahaan serta situs BEI, SPEOJK dan KSEI pada               websites of the Company, BEI, SPEOJK and KSEI
   tanggal 20 Juni 2025.                                          dated June 20th, 2025.
9. Penyampaian Bukti Iklan Risalah RUPST melalui              9. Submission of proof of advertisement of the
   surat No.038/IR-CS/DP/VI/2025 yang telah                       Summary of the AGMS, through letter No.038/
   dipublikasikan masing-masing di situs situs                    IR-CS/DP/VI/2025 that has been published
   BEI dan SPEOJK pada tanggal 23 Juni 2025.                      respectively on the websites of the Company,
                                                                  BEI and SPEOJK, on June 23rd, 2025.
10. Penyampaian Berita Acara RUPST melalui                    10. Submission of AGMS Minutes through letter
    surat N.046/IR-CS/DP/VII/2025 yang telah                      No.046/IR-CS/DP/VII/2025 which have been
    dipublikasikan         masing-masing       di situs           published respectively on the websites of the
    Perusahaan, BEI dan SPEOJK pada tanggal 18                    Company, BEI and SPEOJK on July 18th, 2025.
    Juli 2025. [PUGKI 7.3.5.1] [PUGKI 7.3.5.2]


RUPS Tahunan untuk Tahun Buku 2024                            Annual GMS for 2024 Fiscal Year
RUPST terselenggara secara kuorum pada                        The AGMS was conducted with a quorum present
hari Kamis, 19 Juni 2025 di Green Office Park 9,              on Thursday, June 19th, 2025 at Green Office Park
Auditorium, B Floor, Jl. Grand Boulevard, BSD Green           9, Auditorium, B Floor, Jl. Grand Boulevard, BSD
Office Park, BSD City, Tangerang 15345.                       Green Office Park, BSD City, Tangerang 15345.

Pemegang saham dan kuasa pemegang saham                       Shareholders and their proxies in attendance
yang hadir telah mewakili 1.839.215.699 saham                 collectively represented 1,839,215,699 shares
(99,42%) dari seluruh saham ditempatkan dan                   (99.42%) of the total issued and paid-up shares,
disetor penuh, yaitu 1.850.000.000 saham. Dengan              amounting to 1,850,000,000 shares. Consequently,
demikian, berdasarkan AD Perusahaan, RUPST                    as stipulated in the AoA of the Company, the
adalah sah serta dapat mengambil keputusan                    AGMS was deemed valid and binding.
yang mengikat.

RUPST dipimpin oleh Prof. DR. Teddy Pawitra,                  The AGMS was presided over by Prof. DR. Teddy
Komisaris Independen, sesuai penunjukkan oleh                 Pawitra, an Independent Commissioner, as
BOC, dengan terlebih dahulu membacakan tata                   appointed by the BOC. At the onset of the AGMS,
tertib RUPS pada saat RUPST berlangsung yang                  the rules of conduct were read out by him and
menjadi bagian dalam Berita Acara RUPST. Setiap               were subsequently included in the AGMS Minutes.
mata acara dijelaskan dan dibahas oleh salah                  Each agenda item was explained and discussed
seorang komisaris atau direktur yang hadir. Setelah           by one of the commissioners or directors presents.
penjelasan, pemegang saham dan kuasanya                       Subsequently, shareholders and their proxies
diberikan waktu untuk mengajukan pertanyaan dan               were given the opportunity to seek clarifications
pendapat sebelum memberikan suaranya melalui                  and share their perspectives before proceeding
mekanisme yang telah dijelaskan pada tata tertib              to vote using the procedures outlined in the GMS
RUPS. [ACGS A.2.4] [ACGS A.2.5] [ACGS A.2.14]                 rules and regulations.

Perusahaan menunjuk Notaris Syarifudin S.H.,                  The Company has designated Notary Syarifudin
Notaris di Kota Tangerang dan dibantu oleh                    S.H., serving as a notary in Tangerang city and
BAE (PT Sinartama Gunita) sebagai pihak                       assisted by the BAE (PT Sinartama Gunita), will
independen yang melakukan perhitungan dan/                    act as an independent party responsible for
atau melakukan validasi atas suara untuk setiap               tallying and verifying the votes for each item on
agenda RUPST. [SEOJK 2.g.1.b] [ACGS A.2.11] [PUGKI 7.3.2.8]   the AGMS agenda.



                                                                                   2025 ANNUAL REPORT        147
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      Governansi Perusahaan
      Corporate Governance




Kehadiran BOC dan Direksi [ACGS A.2.7]                    Attendance of BOC and Directors
Jumlah BOC dan Direksi yang hadir pada RUPST              The number of BOC and Directors present at the
2024 adalah masing-masing sebanyak 50% dan                2024 AGMS was 50% and 50% respectively as
50%, dengan catatan kehadiran sebagai berikut:            detailed in the following attendance record:


Dewan Komisaris
Board of Commissioners

Franciscus Xaverius R.D                   Wakil Presiden Komisaris
                                          Vice President Commissioner

Prof. DR. Teddy Pawitra                   Komisaris Independen dan Ketua Nominasi dan Remunerasi
                                          Independent Commissioner and Chairman of Nomination and
                                          Remuneration Committee



Keterangan:                                               Note:
Bapak Muktar Widjaja selaku Presiden Komisaris            Mr. Muktar Widjaja, the President Commissioner was
berhalangan hadir dikarenakan menghadiri pertemuan        unable to attend the meeting due to prior important
penting yang tidak dapat diwakilkan. Prof. DR. Susiyati   commitments that prohibited representation through
Bambang Hirawan selaku Komisaris Independen               a proxy. Prof. DR. Susiyati Bambang Hirawan, an
berhalangan hadir karena sakit.                           Independent Commissioner was unable to attend
                                                          because of an illness.



Direksi
The Directors

Teky Mailoa                               Direktur Utama
                                          President Director

Handoko Wibowo                            Direktur
                                          Director



Keterangan:                                               Note:
Ibu Lie Jani Harjanto dan Bapak Hongky Jeffry Nantung,    Mrs. Lie Jani Harjanto and Hongky Jeffry Nantung, as the
masing-masing selaku Wakil Direktur Utama dan             Vice President Director and the Director respectively,
Direktur, berhalangan hadir dikarenakan menghadiri        was unable to attend the meeting due to prior important
pertemuan penting yang tidak dapat diwakilkan.            commitments that prohibited representation through
                                                          a proxy.




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Keputusan dan Tindak Lanjut RUPST untuk                                Resolution and Follow-ups of the AGMS for 2024
Tahun Buku 2024 [SEOJK 2.g.1.a] [ACGS A.2.6] [ACGS A.2.5]              Fiscal Year



No. Mata Acara
    Agenda
                           Hasil Rapat
                           Resolution
                                                                                                                    Realisasi
                                                                                                                    Realization


  1 Persetujuan            1.   Menyetujui laporan tahunan Perusahaan untuk tahun buku 2024;                        Telah efektif pada
    Laporan Tahunan,            Approved the Company’s Annual Report for 2024 Financial Year;                       saat ditutupnya
    pengesahan Laporan                                                                                              RUPST.
    Keuangan dan                                                                                                    Effective at the
                           2.   Mengesahkan laporan keuangan Perusahaan untuk tahun buku 2024 yang telah
    pengesahan Laporan                                                                                              conclusion of the
                                diaudit oleh Kantor Akuntan Publik Mirawati Sensi Idris, sebagaimana dimuat
    Tugas Pengawasan                                                                                                AGMS.
                                dalam Laporan Auditor Independen Nomor 00364/2.1090/AU.1/03/1905-1/1/
    BOC Perusahaan
                                III/2025 tanggal 24 Maret 2025, dengan pendapat “Wajar tanpa Pengecualian”;
    untuk Tahun Buku
                                To ratify the Company’s financial statements for the 2024 fiscal year audited
    2024.
                                by the Public Accountant Mirawati Sensi Idris, as stipulated in the Independent
    Approval of the
                                Auditor’s Report number 00364/2.1090/AU.1/03/1905-1/1/III/2025 dated March 24th,
    Annual Report,
                                2025, with the opinion “Unqualified”;
    ratification of the
    Financial Statements
    and ratification of    3.   Mengesahkan laporan tugas pengawasan BOC Perusahaan untuk tahun buku
    the Company’s BOC           2024; dan
                                To ratify the Supervisory duty Report of the BOC for the 2024 financial year; and
    Oversight for the
    Fiscal Year 2024.
                           4.   Memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya
                                (“acquit et decharge”) kepada:
                                Granting full release and discharge of responsibility (acquit et decharge) to:

                                a.   Para anggota Direksi Perusahaan atas pelaksanaan tugas dan tanggung
                                     jawab pengurusan Perusahaan untuk kepentingan Perusahaan sesuai
                                     dengan maksud dan tujuan Perusahaan serta pelaksanaan tugas dan
                                     tanggung jawab mewakili Perusahaan baik di dalam maupun di luar
                                     Pengadilan; dan
                                     The members of the Directors for the implementation of duties and
                                     responsibilities in accordance with the Company’s objectives as well
                                     as the duties and responsibilities to represent the Company inside and
                                     outside the court, and

                                b.   Para anggota BOC Perusahaan atas pelaksanaan tugas dan tanggung
                                     jawab pengawasan atas kebijakan pengurusan, jalannya pengurusan
                                     pada umumnya baik mengenai Perusahaan maupun usaha Perusahaan
                                     serta pemberian nasihat kepada Direksi Perusahaan, membantu Direksi
                                     Perusahaan dan memberikan persetujuan kepada Direksi Perusahaan.
                                     The members of the BOC for the implementation of duties and responsibilities
                                     for supervision of management policies, the course of management in
                                     general both regarding the Company and the Company’s business as well
                                     as providing advice to the Directors of the Company, assisting the Directors
                                     and giving approval to the Directors of the Company,

                           yang dijalankan selama tahun buku 2024, sejauh pelaksanaan tugas dan
                           tanggung jawab tersebut tercermin dalam laporan tahunan, laporan keuangan
                           tahunan dan laporan tugas pengawasan BOC Perusahaan tahun buku 2024.
                           which is carried out during the 2024 financial year, to the extent that the
                           implementation of these duties and responsibilities is reflected in the Annual
                           Report, Annual Financial Statements and monitoring report by the BOC for the
                           2024 financial year.


                                                  Pemungutan Suara
                                                       Voting
    Pertanyaan/opini                                    [ACGS A.2.5]                                      Keputusan rapat:
        [ACGS A.2.5]
                                                                                                       dengan suara terbanyak
     Question/opinion                                                                                     With deliberation
                                     Setuju              Abstain             Tidak Setuju                to reach consensus
                                     Agree                                     Disagree

                                1.839.215.699               0                      0                          1.839.215.699
             0                   Suara Votes           Suara Votes            Suara Votes                      Suara Votes
                                   (100%)                 (0%)                   (0%)                            (100%)




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      Governansi Perusahaan
      Corporate Governance




No. Mata Acara
    Agenda
                           Hasil Rapat
                           Resolution
                                                                                                                      Realisasi
                                                                                                                      Realization


  2 Penetapan              Menetapkan penggunaan laba bersih Perusahaan tahun buku 2024, yaitu sebesar                Telah efektif pada
    penggunaan Laba        Rp851.769.071.955,- (delapan ratus lima puluh satu miliar tujuh ratus enam puluh           saat ditutupnya
    Bersih Perusahaan      sembilan juta tujuh puluh satu ribu sembilan ratus lima puluh lima Rupiah),                RUPST dan
    untuk Tahun Buku       dengan perincian sebagai berikut:                                                          akan dibukukan
    2024.                  Allocate the use of the Company’s Net Profit for the 2024 financial year, which            sebagaimana
    Determination of the   amounting to IDR851,769,071,955 (eight hundred fifty-one billion seven hundred             diputuskan.
    use of the Company’s   sixty-nine million seventy-one thousand and nine hundred fifty-five Rupiah), with          Effective at the
    Net Profit for the     details as follows:                                                                        conclusion of the
    financial year 2024.                                                                                              AGMS and will be
                           a.   Mengesahkan pembagian dividen interim sebagai dividen final sebesar                   recorded as the
                                Rp703.000.000.000,- (tujuh ratus tiga miliar Rupiah) atau sebesar Rp380,- (tiga       resolution result.
                                ratus delapan puluh Rupiah) per saham, yang telah disetujui untuk dibagikan
                                kepada para pemegang saham Perseroan, berdasarkan persetujuan BOC
                                Perseroan sebagaimana ternyata dalam Keputusan Dewan Komisaris sebagai
                                pengganti dari Rapat BOC Perseroan tertanggal 2 Desember 2024 dan
                                Keputusan Direksi Perseroan sebagaimana ternyata dalam Keputusan Direksi
                                Sebagai Pengganti Dari Rapat Direksi Perseroan tertanggal 2 Desember 2024.
                                To approve the interim dividend distribution as final dividend amounting to
                                IDR703,000,000,000 (seven hundred and three billion Rupiah) or IDR380 (three
                                hundred and eighty Rupiah) per share, which has been authorized for distributions
                                to the Company’s shareholders. This decision was made with the approval of the
                                Company’s Board of Commissioners, as outlined in the Board of Commissioners’
                                Decision dated December 2nd, 2024 and the Company’s Directors, as detailed in
                                the Directors’ Decision dated December 2nd, 2024.

                           b.   Sebesar Rp2.000.000.000, (dua miliar Rupiah), disisihkan sebagai dana cadangan
                                guna memenuhi ketentuan Pasal 84 AD Perusahaan dan Pasal 70 UUPT;
                                IDR2,000,000,000 (two billion Rupiah), set aside as a reserve fund in order to meet
                                the provisions of Article 84 of the Company’s AoA and Article 70 of UUPT;

                           c.   Sisanya sebesar Rp146.769.071.955,- (seratus empat puluh enam miliar tujuh
                                ratus enam puluh sembilan juta tujuh puluh satu ribu sembilan ratus lima
                                puluh lima Rupiah), akan dibukukan sebagai laba ditahan untuk keperluan
                                modal kerja Perusahaan.
                                GThe remaining IDR146,769,071,955 (one hundred forty-six billion seven
                                hundred sixty-nine million seventy-one thousand and nine hundred fifty-five
                                Rupiah) will be recorded as retained earnings for the Company’s working
                                capital purposes.


                                                 Pemungutan Suara
                                                      Voting
      Pertanyaan/opini                                 [ACGS A.2.5]                                        Keputusan rapat:
         [ACGS A.2.5]
                                                                                                        dengan suara terbanyak
      Question/opinion                                                                                     With deliberation
                                   Setuju               Abstain             Tidak Setuju                  to reach consensus
                                   Agree                                      Disagree

                                1.839.215.699              0                     0                             1.839.215.699
              0                  Suara Votes          Suara Votes           Suara Votes                         Suara Votes
                                   (100%)                (0%)                  (0%)                               (100%)


No. Mata Acara
    Agenda
                           Hasil Rapat
                           Resolution
                                                                                                                      Realisasi
                                                                                                                      Realization


 3 Pengangkatan            1.   Menyetujui untuk memberhentikan dengan hormat seluruh anggota Direksi                 Telah efektif pada
   anggota Direksi dan          dan BOC Perusahaan terhitung sejak ditutupnya Rapat ini dengan memberikan             saat ditutupnya
   BOC Perusahaan               pelunasan dan pembebasan tanggung jawab (“acquit et decharge”) kepada                 RUPST dan
   Appointment of               anggota Direksi dan BOC Perusahaan yang lama atas semua tindakan                      akan dibukukan
   members of the               pengurusan dan pengawasan yang telah mereka lakukan selama menjabat,                  sebagaimana
   Company’s Directors          sepanjang tindakan tersebut sesuai atau tidak menyimpang dari Anggaran                diputuskan.
   and BOC                      Dasar Perusahaan dan tercermin dalam Laporan Tahunan dan Laporan                      Effective at the
                                Keuangan Perusahaan, serta laporan tugas pengawasan BOC Perusahaan;                   conclusion of the
                                To approve by honorably discharge all members of the Directors and the                AGMS and will be
                                BOC of the Company effective at the conclusion of the Meeting. This includes          recorded as the
                                providing a release and discharge of responsibility (“acquit et décharge”) to         resolution result.
                                the former members for all management and supervisory actions undertaken
                                during their tenure, provided that such actions align with the Company’s
                                Articles of Association and are documented in the Company’s Annual Report,
                                Financial Report and the report on the supervisory duties of the BOC;




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No. Mata Acara
    Agenda
                       Hasil Rapat
                       Resolution
                                                                                                                 Realisasi
                                                                                                                 Realization


                       2.   Menyetujui untuk mengangkat kembali anggota Direksi dan BOC Perusahaan
                            terhitung sejak ditutupnya Rapat ini sampai dengan ditutupnya RUPS
                            Perusahaan untuk tahun buku yang berakhir pada tanggal 31-12- 2029 (tiga
                            puluh satu Desember dua ribu dua puluh sembilan) yang akan dilaksanakan
                            paling lambat pada bulan Juni tahun 2030 (dua ribu tiga puluh), dengan tidak
                            mengurangi hak RUPS untuk memberhentikannya (-mereka) sewaktu-waktu
                            sebelum masa jabatannya (-mereka) berakhir, sehingga dengan demikian
                            susunan anggota Direksi dan BOC Perusahaan adalah sebagai berikut:
                            To approve the reappointment of the members of the Directors and the BOC
                            of the Company, effective from the conclusion of this Meeting until the closing
                            of the Company’s AGMS for the financial year ending on December 31st, 2029
                            (thirty-first of December two thousand twenty-nine), which will take place no
                            later than June 2030 (two thousand thirty), while does not diminish the rights
                            of the GMS to dismiss them at any point before the end of their term, thus the
                            composition of the members of the Directors and the BOC of the Company
                            is as follows:


                            Direksi
                            The Directors

                            Teky Mailoa                           Direktur Utama
                                                                  President Director

                            Lie Jani Harjanto                     Wakil Direktur Utama
                                                                  Vice President Director

                            Hongky Jeffry Nantung                 Direktur
                                                                  Director

                            Handoko Wibowo                        Direktur
                                                                  Director




                            BOC


                            Muktar Widjaja                        Komisaris Utama
                                                                  President Commissioner

                            Fransciscus Xaverius R.D              Wakil Komisaris Utama
                                                                  Vice President Commissioner

                            Prof. DR. Teddy Pawitra               Komisaris Independen
                                                                  Independent Commissioner

                            Prof. DR. Susiyati Bambang            Komisaris Independen
                            Hirawan                               Independent Commissioner



                       3.   Memberikan kuasa kepada Direksi Perusahaan untuk menyatakan keputusan
                            Rapat ini dalam akta Pernyataan Keputusan Rapat yang dibuat di hadapan
                            Notaris dan menyampaikan pemberitahuan perubahan data Perusahaan
                            kepada Kementerian Hukum RI untuk memperoleh surat penerimaan
                            pemberitahuan perubahan data Perseroan dari Menteri Hukum RI.
                            Granting power of attorney to the Company’s Directors to state the decisions
                            of this Meeting in a deed of Meeting Resolution Statement drawn up before a
                            Notary and to submit notification of changes to the Company’s data to the
                            Ministry of Law of the RI to obtain a letter of receipt of notification of changes
                            to the Company’s data from the Minister of Law of the RI.


                                             Pemungutan Suara
                                                  Voting
   Pertanyaan/opini                                [ACGS A.2.5]                                       Keputusan rapat:
       [ACGS A.2.5]
                                                                                                   dengan suara terbanyak
    Question/opinion                                                                                  With deliberation
                               Setuju              Abstain                   Tidak Setuju            to reach consensus
                               Agree                                           Disagree

                            1.839.215.699             0                           0                       1.839.215.699
            0                Suara Votes         Suara Votes                 Suara Votes                   Suara Votes
                               (100%)               (0%)                        (0%)                         (100%)




                                                                                                 2025 ANNUAL REPORT             151
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      Governansi Perusahaan
      Corporate Governance




No. Mata Acara
    Agenda
                                Hasil Rapat
                                Resolution
                                                                                                                       Realisasi
                                                                                                                       Realization


 4 a.      Penetapan gaji       1.   Memberikan wewenang kepada BOC Perusahaan untuk menetapkan gaji                   Telah efektif pada
           dan tunjangan             dan tunjangan anggota Direksi Perusahaan untuk tahun buku 2025, dengan            saat ditutupnya
           anggota Direksi           memperhatikan rekomendasi dari NRC Perusahaan;                                    RUPST dan
           Perusahaan untuk          To authorize the BOC of the Company to determine the salaries and benefits        akan dibukukan
           Tahun Buku 2025;          of members of the Directors for the financial year 2025; with regard to the       sebagaimana
           Determination             recommendations of the NRC:                                                       diputuskan.
           of salaries and                                                                                             Effective at the
           allowances of                                                                                               conclusion of the
           members of the       2.   a.    Menetapkan total gaji atau honorarium dan tunjangan lain bagi BOC           AGMS and will be
           Directors for the               Perusahaan untuk tahun buku 2025 adalah minimal sama dengan yang            recorded as the
           2025 financial                  diterima pada tahun buku 2024; dan                                          resolution result.
           year;                           To authorize the BOC of the Company to determine the salaries and
                                           benefits of members of the Directors for the financial year 2025; with
      b.   Penetapan gaji                  regard to the recommendations of the NRC:
           atau honorarium
           dan tunjangan
                                     b.    Memberikan kuasa kepada Presiden Komisaris Perusahaan untuk
           lain anggota BOC
                                           menetapkan besarnya serta pembagian jumlah gaji atau honorarium
           Perusahaan untuk
                                           dan tunjangan lain dari masing-masing anggota BOC Perusahaan untuk
           Tahun Buku 2025.
                                           tahun buku 2025.
           Determination
                                           To authorize the President Commissioner of the Company to determine the
           of salary or
                                           amount and distribution of the salary or honorarium and other benefits of
           honorarium and
                                           each member of the Company’s BOC for the financial year 2025.
           other benefits for
           members of the
           BOC for the 2025
           Fiscal Year.
           [ACGS A.2.1]


                                                       Pemungutan Suara
                                                            Voting
      Pertanyaan/opini                                      [ACGS A.2.5]                                    Keputusan rapat:
           [ACGS A.2.5]
                                                                                                         dengan suara terbanyak
      Question/opinion                                                                                      With deliberation
                                          Setuju             Abstain           Tidak Setuju                to reach consensus
                                          Agree                                  Disagree

                                     1.839.215.699              0                    0                          1.839.215.699
                0                     Suara Votes          Suara Votes          Suara Votes                      Suara Votes
                                        (100%)                (0%)                 (0%)                            (100%)


No. Mata Acara
    Agenda
                                Hasil Rapat
                                Resolution
                                                                                                                       Realisasi
                                                                                                                       Realization


 5 Penunjukan Akuntan           Memberikan wewenang kepada BOC Perusahaan untuk menentukan Kantor                      Melalui surat
   Publik untuk Tahun           Akuntan Publik Independen yang akan melakukan audit atas buku Perusahaan               keputusan sirkuler BOC
   Buku 2025.                   untuk tahun buku yang berakhir pada 31 Desember 2025 dengan kriteria sebagai           tertanggal 16 Oktober
   Appointment of Public        berikut:                                                                               2025 dan dengan
   Accountant for the           To give authority to the Company’s BOC to appoint Independent Public Accounting        mempertimbangkan
   Fiscal Year 2025.            Firm that will audit the Company’s books for the financial year ending December        rekomendasi dari
      [ACGS A.6.4]              31st, 2025 with the following criteria:                                                Komite Audit, menunjuk
                                                                                                                       Kantor Akuntan Publik
                                1.   Termasuk Kantor Akuntan Publik (“KAP”) yang terdaftar di OJK;                     Mirawati Sensi Idris
                                     Public Accounting Firm registered with OJK;                                       dengan Benedictus
                                                                                                                       Yuliando sebagai
                                2.   Memiliki pengalaman melakukan audit di Perusahaan terbuka.                        Akuntan Publik untuk
                                     Has experience conducting audits in public listed companies.                      melakukan audit atas
                                                                                                                       buku Perusahaan
                                                                                                                       untuk tahun buku
                                                                                                                       yang berakhir pada 31
                                                                                                                       Desember 2025.
                                                                                                                       By the Company’s
                                                                                                                       Circular Letter of the
                                                                                                                       BOC dated October 16th,
                                                                                                                       2025 and considering
                                                                                                                       the recommendations
                                                                                                                       from the Audit
                                                                                                                       Committee, has
                                                                                                                       appointed the Public
                                                                                                                       Accounting Firm
                                                                                                                       Mirawati Sensi Idris and
                                                                                                                       Benedictus Yuliando as
                                                                                                                       the Public Accountant
                                                                                                                       to audit the Company’s
                                                                                                                       books for the financial
                                                                                                                       year ending December
                                                                                                                       31st, 2025.




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                                                    Pemungutan Suara
                                                         Voting
     Pertanyaan/opini                                    [ACGS A.2.5]                                    Keputusan rapat:
          [ACGS A.2.5]
                                                                                                      dengan suara terbanyak
      Question/opinion                                                                                   With deliberation
                                        Setuju           Abstain             Tidak Setuju               to reach consensus
                                        Agree                                  Disagree

                                    1.839.215.699           0                     0                         1.839.215.699
                0                    Suara Votes       Suara Votes           Suara Votes                     Suara Votes
                                       (100%)             (0%)                  (0%)                           (100%)




Hasil RUPST untuk Tahun Buku 2023 [SEOJK 2.g.1.a]                       AGMS Resolution for 2023 Fiscal Year
RUPST untuk tahun buku 2023 diselenggarakan                             The AGMS for 2023 fiscal year was held on
pada Selasa, 21 Juni 2024 di Indonesia Convention                       Tuesday, June 21st, 2024, in Indonesia Convention
Exhibition, Convention       Center,   Tangerang.                       Exhibition, Convention Center, Tangerang. All of
Seluruh hasil keputusan RUPST tersebut telah                            the AGMS resolution had been implemented in
dilaksanakan dalam tahun 2024 dengan tindak                             2024 with the following actions:
lanjut sebagai berikut:




No. Hasil Rapat
    Resolution Result
                                                                                              Realisasi
                                                                                              Realization



   1 Menyetujui Laporan Tahunan, mengesahkan Laporan Keuangan dan mengesahkan                 Telah efektif pada saat ditutupnya RUPST.
     Laporan Tugas Pengawasan BOC Perusahaan untuk Tahun Buku 2023.                           Effective at the conclusion of the AGMS.
     Approve the Annual Report, ratify the Financial Report and Supervisory Report of the
     BOC for the 2023 Fiscal Year.



  2 Menetapkan penggunaan Laba Bersih Perusahaan untuk Tahun Buku 2023, yaitu untuk           Telah efektif pada saat ditutupnya RUPST
    dana cadangan dan laba ditahan.                                                           dan telah dibukukan sebagaimana
    Determine the use of the Company’s Net Profit for the 2023 financial year, that was set   diputuskan.
    aside as a reserve fund and retained earnings.                                            Effective at the conclusion of the AGMS
                                                                                              and has been recorded as decided.


  3 Memberikan wewenang kepada BOC untuk menetapkan gaji, tunjangan dan                       Telah efektif pada saat ditutupnya RUPST.
    honorarium anggota Direksi dan BOC Perusahaan untuk Tahun Buku 2024.                      Effective at the conclusion of the AGMS.
    To authorize the BOC to determine the salaries, allowances, and honorarium of the
    members of the Directors and the BOC for the Fiscal Year 2024.



  4 Memberikan wewenang kepada BOC Perusahaan untuk menentukan Kantor Akuntan                 Dengan mempertimbangkan rekomendasi
    Publik Independen yang akan melakukan audit atas buku Perusahaan untuk tahun              Komite Audit, BOC menunjuk Kantor
    buku yang berakhir pada 31 Desember 2024 dengan kriteria yang telah ditentukan.           Akuntan Publik Mirawati Sensi Idris.
    To authorize the Company’s BOC to appoint an Independent Public Accounting Firm           The    BOC      by     considering     the
    that will audit the Company’s book for the financial year ended December 31st, 2024       recommendations      from      the    Audit
    with the defined criteria.                                                                Committee, has appointed the Public
                                                                                              Accounting Firm Mirawati Sensi Idris.



Catatan Notes

Perusahaan tidak mengadakan RUPSLB pada tahun 2024
The Company did not have any EGMS in 2024




                                                                                                  2025 ANNUAL REPORT                153
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       Governansi Perusahaan
       Corporate Governance




Direksi
Directors

Direksi telah memiliki Piagam Direksi No.001/         The Directors have issued the Charter No.001/
DIR/DP/XII/2015 tanggal 7 Desember 2015, yang         DIR/DP/XII/2015, dated December 7th, 2015,
memuat antara lain landasan hukum, struktur dan       outlines the legal basis, structure, membership
keanggotaan, kriteria dan independensi, tugas dan     criteria, independence, duties, responsibilities
tanggung jawab beserta kewenangan, mekanisme          and authorities, as well as the mechanisms for
rapat, pelaporan dan pertanggungjawaban.              meetings, reporting and accountability. The
Direksi dalam pelaksanaan kegiatan operasional        Directors use the Charter as a reference for
sehari-hari berlandaskan pada Piagam tersebut.        their daily operational activities. The Directors
Secara berkala, Direksi melakukan tinjauan atas       periodically review the Charter to ensure
Piagam Direksi dan menilai Piagam Direksi tersebut    its continued relevance to the Company’s
masih relevan dengan kondisi perkembangan             business development. The Charter is available
bisnis Perusahaan. Piagam Direksi dapat diunduh       for download on the Company’s websites
di situs web Perusahaan www.sinarmasland.com          www.sinarmasland.com and www.dutapertiwi.com.
dan www.dutapertiwi.com. [ACGS D.1.1] [PUGKI 1.1.8]


Struktur dan Keanggotaan                              Structure and Composition
Direksi setidak-tidaknya terdiri atas 3 (tiga)        The Directors consists of at least 3 (three) persons
orang, yang memiliki kedudukan setara dan             with equal position and is responsible to the GMS,
bertanggungjawab kepada RUPS, yaitu:                  namely:
1. 1 (satu) orang Direktur Utama                      1. 1 (one) President Director
2. 1 (satu) orang Wakil Direktur Utama atau lebih     2. 1 (one) Vice President Director or more
3. 1 (satu) orang Direktur atau lebih                 3. 1 (one) Director or more

Direksi diangkat dan diberhentikan melalui            The Directors are appointed and dismissed
keputusan RUPS untuk masa jabatan tertentu            through a GMS resolution for specific tenure, at
yang selama-lamanya adalah sampai dengan              the latest until the closing of the fifth year GMS
ditutupnya RUPST ke-5 dan dapat diangkat              and can be reappointed.
kembali. [ACGS D.3.11]

Piagam Direksi mengatur bahwa anggota Direksi         The Charter for the Directors regulates that
hanya dapat merangkap jabatan sebanyak-               members of the Directors can only hold as many
banyaknya sebagai anggota Direksi pada 1 (satu)       positions as members of the Directors at 1 (one)
emiten atau perusahaan publik lain, anggota BOC       issuer or the public company, BOC members at
pada 3 (tiga) emiten atau perusahaan publik lain,     3 (three) issuers or other public companies, and
dan anggota komite pada 5 (lima) emiten atau          committee members at 5 (five) issuers or public
perusahaan publik dimana yang bersangkutan            companies where the person concerned is also
juga menjabat sebagai anggota Direksi atau BOC.       serves as a member of the Directors or BOC. In
Sesuai dengan kebijakan tersebut, pada tahun          accordance with the policy, this year, there were
ini tidak ada anggota Direksi yang merangkap          no members of the Directors hold more positions
jabatan lebih dari batasan di atas. [ACGS D.2.6]      than the above set limitations.
[PUGKI 1.6.1.1]


Pada tahun ini, sesuai rekomendasi NRC kepada         This year, as recommended by the NRC to the
BOC, RUPST mengangkat kembali semua                   BOC, the AGMS reappointed all members of
anggota Direksi setelah memberikan pelunasan          the Directors after granting them discharge of
tanggung jawab, sehingga tidak ada perubahan          responsibility, thus, there were no changes in the
pada susunan Direksi. [PUGKI 1.3.3] Dengan            composition of the Directors. After a consideration
mempertimbangkan karakteristik, kapasitas,            to the business characteristics, capacity, size
ukuran dan kebutuhan bisnis [PUGKI 2.1.2.3], jumlah   and needs, the members of the Directors of the




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anggota Direksi Perusahaan adalah 4 (empat)                                   Company amounting to 4 (four) people with the
orang dengan susunan per 31 Desember 2025                                     following composition as of December 31st, 2025:
sebagai berikut:


Teky Mailoa                                                Direktur Utama
                                                           President Director

Lie Jani Harjanto                                          Wakil Direktur Utama
                                                           Vice President Director

Hongky Jeffry Nantung                                      Direktur
                                                           Director

Handoko Wibowo                                             Direktur
                                                           Director



Masa jabatan mereka adalah sampai dengan                                      Their term of office is until the closing of the
ditutupnya RUPST untuk tahun buku yang                                        AGMS for the financial year ending December 31st,
berakhir pada tanggal 31 Desember 2029 tanpa                                  2029, without prejudice to the right of the GMS to
mengurangi hak RUPS untuk memberhentikan                                      dismiss one or all members before their term of
salah satu atau semua anggota sebelum masa                                    office ends.
jabatannya berakhir.


Keberagaman                                                                   Diversity
Susunan Direksi mewakili berbagai latar belakang                              The composition of the Directors represents a
pendidikan dan pengalaman yang dipandang                                      variety of educational background and working
sesuai   dalam     pencapaian       target-target                             experience that are deemed in conjunction to the
Perusahaan. Sampai saat ini, kebijakan mengenai                               achievement of the Company’s targets. To date,
keberagaman susunan Direksi disesuaikan dengan                                policy regarding the diversity of the composition
rencana jangka panjang yang telah dimiliki                                    of the Directors is adjusted to the Company’s
Perusahaan yang tampak pada tabel berikut ini:                                long-term plan as shown in the table below.
[ACGS (B).D.1.2] [PUGKI 2.1.2.2] [PUGKI 2.1.3]




 Nama                                            Pendidikan                             Usia   Catatan [PUGKI 2.1.2.4]
 Name                        Gender              Education                              Age    Note



 Teky Mailoa                 Laki-laki           Master in Structure and Construction    62    Berpengalaman lebih dari 25 tahun di
                             Male                Management                                    bisnis properti, khususnya proyek properti
                                                 University of Wisconsin,                      investasi dan manajemen.
                                                 Madison, USA                                  Has more than 25 years of experience in the
                                                                                               property business, specifically in property
                                                                                               investment projects and management.




 Lie Jani Harjanto           Perempuan           Sarjana Ekonomi                         59    Berpengalaman lebih dari 30 tahun di
                             Female              Bachelor’s degree in economics                dunia properti, bidang keuangan dan
                                                 Universitas Trisakti                          akuntansi serta manajemen. [PUGKI 2.1.2.5]
                                                 Trisakti University                           Has more than 30 years of experience in
                                                                                               the property business, finance, accounting
                                                                                               and management.




                                                                                                      2025 ANNUAL REPORT                155
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      Governansi Perusahaan
      Corporate Governance




Nama                             Pendidikan                             Usia   Catatan [PUGKI 2.1.2.4]
Name                 Gender      Education                              Age    Note



Hongky Jeffry        Laki-laki   Bachelor’s Degree in Engineering        63    Berpengalaman lebih dari 30 tahun
Nantung              Male        University of Wollongong, Australia           di dunia properti, pemasaran dan
                                                                               manajemen.
                                                                               Has more than 30 years of experience
                                                                               in the property business, marketing and
                                                                               management.

Handoko Wibowo       Laki-laki   Sarjana Ekonomi Jurusan                 63    Berpengalaman lebih dari 30 tahun
                     Male        Manajemen                                     di bidang keuangan dan manajemen
                                 Bachelor of Economics majoring in             properti.
                                 Management                                    Has more than 30 years of experience in
                                 Universitas Krisnadwipayana,                  finance and property management.
                                 Jakarta, Indonesia
                                 Krisnadwipayana University, Jakarta,
                                 Indonesia




Tugas dan Tanggung Jawab [SEOJK 2.g.2.a] [ACGS D.1.3]         Duties and Responsibilities
Piagam Direksi mengatur tugas dan tanggung                    The Charter for the Directors outlines the general
jawab Direksi secara umum yaitu melaksanakan                  duties and responsibilities of the Directors,
pengurusan Perusahaan untuk kepentingan serta                 focusing on managing the Company to further its
sesuai dengan maksud dan tujuan Perusahaan.                   objectives and mission. The Charter also governs
Di dalam Piagam tersebut juga diatur kewajiban                the requirements for convening a GMS, guidelines
penyelenggaraan RUPS, panduan dalam hal                       regarding managing conflicts of interest, outlines
benturan kepentingan, panduan penggunaan                      protocols for engaging individual advisors or
penasihat perorangan atau konsultan, serta                    consultants, as well as emphasizing members’
peningkatan kompetensi anggota. Direksi juga telah            competencies. Additionally, the Directors have
membentuk Unit Kerja Audit Internal untuk membantu            instituted an Internal Audit Work Unit to support the
pelaksanaan tugas dan tanggung jawab di atas.                 execution of these responsibilities and duties.

Di dalam melaksanakan tugasnya, 3 (tiga) orang                In carrying out the said duties, 3 (three) members
anggota Direksi secara bersama-sama berhak                    of the Directors jointly have the right and authority
dan berwenang bertindak untuk dan atas nama                   to act for and on behalf of the Director and to
Direksi serta mewakili Perusahaan. [ACGS D.1.2]               represent the Company.

Sebagaimana yang telah disampaikan pada Bab                   As outlined in the Organizational Structure
Profil Perusahaan sub judul Struktur Organisasi               section of the Company Profile chapter on page
halaman 55 Laporan Tahunan ini, penjabaran                    55 of this Annual Report, the description of scope
pekerjaan dan tanggung jawab masing-masing                    of work and responsibilities of the member of the
anggota Direksi, yakni sebagai berikut:                       Directors respectively as follows:

Teky Mailoa
Direktur Utama [ACGS D.4.4]                                   President Director
a. Mengkoordinasikan seluruh kegiatan Direksi;                a. Coordinate all activities of the Directors;
b. Mengkoordinasikan proses dan merekonstruksi                b. Coordinate the process and reconstruct the
   aspek-aspek filosofi korporasi yang mencakup                  corporate philosophical aspects covering
   visi, misi, tujuan, budaya perusahaan serta                   vision, mission, objectives, corporate culture
   kepemimpinan, termasuk visi, strategi dan                     and leadership, including ESG sustainability
   pilar berkelanjutan ESG sejalan dengan tujuan                 vision, strategy and pillars are in line with the
   dan strategi bisnis Perusahaan;                               Company’s business objective and strategy;
c. Merumuskan dan menyatakan arah strategis                   c. Formulate and state the strategic direction
   untuk        mengkondisikan       kemampuan                   to condition the Company’s ability to realize
   Perusahaan dalam mewujudkan pertumbuhan                       sustainable competitive growth across all
   kompetitif yang berkelanjutan pada seluruh                    business portfolios and control risk as well as
   portofolio bisnis dan pengendalian risiko serta               interact with external constituents as a group;
   berinteraksi dengan konstituen eksternal
   secara berkelompok [PUGKI 5.2.1];


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d. Mengendalikan fungsi perencanaan strategis         d. Control the strategic planning function
   dan mengarahkan upaya pertumbuhan                     and direct the efforts towards growth while
   dengan fokus pada portofolio bisnis baru;             focusing on new business portfolios;
e. Mengendalikan arah Perusahaan;                     e. Control the direction of the Company;
f. Mengendalikan pengelolaan aspek strategis dan      f. Control the management of strategic aspects
   fungsi-fungsi keuangan, sumber daya manusia,          and functions of finance, human resources,
   inovasi dan strategi portofolio pada seluruh          innovation and portfolio strategy in all business
   portofolio bisnis yang dijalankan Perusahaan;         portfolios run by the Company;
g. Memimpin proses pembinaan pemimpin serta           g. Lead the process of developing leaders as well
   mengangkat dan memberhentikan pemangku                as appointing and dismissing office holders
   jabatan pada posisi tertentu sesuai peraturan         in certain positions in accordance with
   manajemen karir yang ditetapkan;                      established career management regulation;
h. Mengelola       risiko    perusahaan      secara   h. Managing corporate risks comprehensively
   menyeluruh dengan memastikan tersedianya              by ensuring the availability of resources
   sumber daya untuk penerapan Enterprise Risk           for Enterprise Risk Management (ERM)
   Management (ERM).                                     implementation.

Lie Jani Harjanto
Wakil Direktur Utama                                  Vice President Director
Bertanggung jawab membantu Direktur Utama             Responsible to assist the President Director in his
sebagaimana yang disebutkan dalam tanggung            duties as stated above.
jawab Direktur Utama di atas.

Lie Jani Harjanto
Direktur Keuangan                                     Finance Director
Membawahi fungsi-fungsi Keuangan, Akuntansi,          Supervises the functions of Finance, Accounting,
Pajak, Hukum dan Teknologi Informasi, dengan          Tax, Legal and Information Technology, with
penjabaran tugas dan tanggung jawab sebagai           duties and responsibilities as follows:
berikut:
a. Menentukan konsep dan rumusan Rencana              a. Determine the concept and formulation of
   Keuangan Perusahaan Jangka Panjang dan                the Long and Short-Term Company Financial
   Pendek;                                               Plans;
b. Memfasilitasi dalam proses perumusan               b. Facilitate the process of formulating the
   konsep perspektif keuangan untuk aspek,               concept of financial perspective for aspects
   antara lain penganggaran belanja, bisnis dan          such as budgeting, business & investment
   investasi serta pengelolaan modal;                    and capital management;
c. Menentukan strategi dan kebijakan fungsional       c. Determine financial strategies and functional
   bidang finansial yang mencakup kebijakan              policies that include financial policies,
   keuangan, sistem pendukung kebijakan                  financial policy support systems and asset
   keuangan dan pengelolaan aset;                        management;
d. Menentukan kebijakan tata kelola dan               d. Determine governance and management
   pengelolaan akuntansi finansial, manajemen            policies for financial accounting, accounting
   akuntansi, keuangan perusahaan dan pajak;             management, corporate finance and tax;
e. Menentukan        kebijakan,   tata    kelola      e. Determine       policies, governance     and
   dan     mekanisme       pengelolaan   proses          mechanisms for managing the Company’s
   penganggaran Perusahaan;                              budgeting process;
f. Menentukan kebijakan, tata kelola dan              f. Determine policy, governance and management
   pengelolaan Teknologi Informasi dan Hukum.            of Information Technology and Law.

Hongky J. Nantung
Direktur Operasional                                  Operations Director
Membawahi ruang lingkup pekerjaan yang antara         In charge of the scope of work which includes
lain mengelola dan mengawasi Divisi proyek            managing and supervising the residential and
perumahan dan komersial. Direktur Operasional         commercial projects Division. The Operations
bertanggung jawab untuk:                              Director is responsible to:
a. Menetapkan kebijakan pengembangan dan              a. Determine development and innovation
    inovasi beserta rencana pemasaran produk             policies along with the marketing plans for
    perumahan dan komersial;                             housing and commercial products;


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b. Menetapkan arah strategis dan mekanisme                b. Determine strategic directions and mechanism
   penjualan produk perumahan dan komersial;                 of residential and commercial products;
c. Menentukan strategi dan kebijakan proposisi nilai.     c. Determine the value proposition strategy and policies.

Teky Mailoa
Direktur Manajemen Aset                                   Asset Management Director
Membawahi ruang lingkup pekerjaan yang antara             In charge of the scope of work which includes
lain mengelola dan mengawasi Divisi produk aset           managing and supervising the Company’s asset
Perusahaan, antara lain gedung perkantoran,               product Division such as office buildings, hotels,
hotel, mal, trade center dan water park. Direktur         shopping malls, trade centers and water parks.
Manajemen Aset bertanggungjawab untuk:                    The Asset Management Director is responsible for:
a. Menetapkan kebijakan pengembangan dan                  a. Establishing development and innovation
    inovasi beserta strategi rencana pemasaran               policies along with marketing plan strategies
    produk aset Perusahaan;                                  for the Company’s asset products;
b. Menetapkan arah strategis dan mekanisme                b. Establishing the strategic direction and
    penyewaan dan/atau penjualan produk asset                mechanism for leasing and/or selling the
    Perusahaan;                                              Company’s asset products;
c. Menetapkan strategi dan kebijakan terkait              c. Establishing strategies and policies related to
    nilai proposisi.                                         value proposition.

Hongky J. Nantung Direktur Pemasaran                      Marketing Director
Handoko Wibowo Direktur Pengembangan Bisnis               Business Development Director
Membawahi ruang lingkup pekerjaan yang                    In charge of the scope of work which includes
antara lain mengelola dan mengawasi Divisi                managing and supervising the Marketing and
Pemasaran dan Divisi Pengembangan Bisnis.                 Business Development Divisions. The Marketing
Direktur Pemasaran dan Pengembangan Bisnis                and Business Development Director are
bertanggung jawab untuk:                                  responsible for:
a. Menetapkan arah strategi jangka panjang dan            a. Establishing the long- and short-term
   pendek rencana pemasaran produk-produk                    strategic direction of the Company’s product
   Perusahaan;                                               marketing plan;
b. Menetapkan kebijakan dan mekanisme                     b. Establishing policies and mechanism for the
   pelaksanaan pengembangan usaha;                           implementation of the Business Development;
c. Menetapkan kebijakan standarisasi pelayanan            c. Establishing customer service standardization
   pelanggan di semua proyek Perusahaan.                     policies in all projects of the Company.


Rapat                                                     Meetings
Rapat Direksi diadakan minimal sekali tiap bulan.         Meetings of the Directors are held at least 1
[ACGS D.3.2] dan Rapat Direksi bersama Dewan              (once) every month and Joint Meetings of the
Komisaris paling tidak sekali dalam 4 (empat)             Directors with the BOC at least 1 (once) every 4
bulan. [SEOJK 2.g.2.c] Direksi telah menetapkan jadwal    (four) months. The Directors have scheduled the
Rapat Direksi untuk tahun berjalan pada akhir             Meetings of the Directors for the year as of the
tahun buku sebelumnya. [ACGS D.3.1]                       end of the previous year.

Rapat Direksi memutuskan semua kebijakan                  The Directors’ Meetings establish all strategic
dan keputusan strategis Perusahaan serta                  policies and decisions and monitor the strategy
memonitor penerapan strategi tersebut dalam               implementation throughout the year.
tahun berjalan. [ACGS D.1.5] [ACGS D.1.6] [PUGKI 5.2.1]

Rapat Direksi dipimpin oleh Direktur Utama,               Meetings of the Directors are chaired by the
bahan rapat telah disampaikan paling lambat 5             President Director, and meeting materials should
(lima) hari sebelum penyelenggaraan. [ACGS D.3.6]         have been submitted to the participants at least
[PUGKI 1.7.1.3]                                           5 (five) days before it is held.

Keputusan rapat hanya sah dan dapat mengambil             Meeting resolutions are only valid and can make
keputusan-keputusan yang mengikat apabila lebih           binding decisions if more than ½ (one half) of the
dari ½ (satu per dua) bagian Direksi yang hadir dan/      Directors are present and/or represented in the
atau diwakili dalam rapat. Keputusan rapat diambil        meeting. Decisions in the meeting must be made


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atas musyawarah untuk mufakat. Bila mufakat tidak                                based on deliberation to reach a consensus.
dapat tercapai, maka pengambilan keputusan                                       In the event that it is impossible to attain, the
didasarkan dengan pemungutan suara setuju lebih                                  decision making shall be based on affirmative
dari ½ (satu per dua) bagian dari jumlah suara yang                              votes, which shall be more than half of the total
dikeluarkan dengan sah dalam Rapat tersebut.                                     votes validly cast in the meeting.

Sebagaimana yang diatur dalam Piagam Direksi,                                    In accordance with the Directors Charter, any
bila ada anggota Direksi yang memiliki benturan                                  Directors member who identifies a conflict of
kepentingan dengan salah satu agenda Rapat                                       interest regarding an agenda item must formally
Direksi, maka anggota Direksi tersebut harus                                     declare this conflict and will be ineligible to vote
menyatakan benturan kepentingannya dan tidak                                     on that agenda.
berhak dalam pengambilan suara pada agenda
tersebut. [ACGS A.8.2] [ACGS App.B.4.1] [PUGKI 1.6.2.3]

Sepanjang tahun 2025, Direksi telah melaksanakan                                 Throughout 2025, the Directors held 12 (twelve)
rapat sebanyak 12 (dua belas) Rapat Internal                                     Internal Directors Meetings, 4 (four) Joint Meetings
Direksi dan 4 (empat) Rapat Gabungan dengan                                      with the BOC and 1 (one) AGMS with the following
BOC [PUGKI 3.2.1.3] dan 1 kali RUPST, dengan catatan                             attendance record:
kehadiran sebagai berikut:

                                                Rapat Direksi (12 Rapat)
                                                                                          Rapat Gabungan Direksi dan BOC (4 rapat)
                                            Directors Meeting (12 Meetings)
                                                                                        Joint Meeting of Directors and BOC (4 meetings)   Kehadiran
                                               [SEOJK 2.g.2.c] [ACGS D.3.2]                                                               RUPST
                                                                                                [SEOJK 2.g.2.c] [ACGS App. D.2.6]
    Nama                                     [ACGS D.3.3] [ACGS App. D.2.6]
No.                                                                                                                                       Attendance in
    Name                                                                                                                                  AGMS
                                   Jumlah Kehadiran                                     Jumlah Kehadiran                                [SEOJK 2.g.2.c]
                                                         Persentase Kehadiran (%)                             Persentase Kehadiran (%) [ACGS A.2.7]
                                      Number of                                            Number of
                                                         Attendance Percentage (%)                            Attendance Percentage (%)
                                      Attendance                                           Attendance



   1 Teky Mailoa                           12                       100%                         4                        100%            Hadir Present


   2 Lie Jani Harjanto                     12                       100%                         2                        50%                      *


   3 Hongky Jeffry Nantung                 12                       100%                         2                        50%                      *


   4 Handoko Wibowo                        12                       100%                         4                        100%            Hadir Present



Catatan Notes
 *) Berhalangan hadir karena menghadiri pertemuan yang tidak dapat diwakilkan
    were unable to attend the meeting due to prior important commitments that prohibited representation through a proxy




Program Orientasi dan Pengembangan                                               Orientation and Competencies Development
Kompetensi                                                                       Programs
Perusahaan belum memiliki program pengenalan                                     The Company does not have an induction
bagi anggota Direksi yang baru diangkat. Namun                                   program for newly appointed members of
demikian, jika terdapat pengangkatan anggota                                     the Directors. However, in the event of a new
Direksi yang baru, Perusahaan menyediakan                                        Director’s appointment, the Company will ensure
informasi yang cukup terkait kegiatan usaha                                      they receive comprehensive details about the
Perusahaan dan penjelasan mengenai tugas                                         Company’s business activity, along with an
dan tanggung jawab Direksi. [SEOJK 2.g.2.d.1] [ACGS D.5.1]                       overview of the Directors’ roles and responsibilities.
[PUGKI 1.7.1.1]


Berdasarkan Piagam Direksi, anggota Direksi                                      According to the Charter for the Directors, it
harus selalu meningkatkan kompetensi yang                                        is imperative for members of the Directors to
menunjang pelaksanaan tugasnya melalui                                           continuously enhance their competencies to
partisipasi di dalam pelatihan dan program-                                      effectively fulfill their responsibilities by engaging
program pengembangan lainnya. [SEOJK 2.g.2.d.1]                                  in training and developmental initiatives.
[ACGS D.5.2] [PUGKI 1.7.1.2]




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Program pelatihan dan pengembangan yang                                    The training and development programs that
diikuti oleh Direksi pada tahun 2025 adalah                                the Directors participated in during 2025 are as
sebagai berikut: [SEOJK 2.g.2.d.2]                                         follows:



 Nama                     Topik                                     Tanggal         Tempat      Pelaksana
 Name                     Subject                                     Date           Venue      Provider/Facilitator



 Teky Mailoa              2025 Starting Strong: Lessons in         21 Januari       BSD City    Inhouse/William Sabandar - President
                          Leadership, Agility and Resilience        January                     Director PT MRT Jakarta

 Lie Jani Harjanto        2025 Starting Strong: Lessons in         21 Januari       BSD City    Inhouse/William Sabandar - President
                          Leadership, Agility and Resilience        January                     Director PT MRT Jakarta

                          Strategy Leadership in Propoerty           16 Mei         BSD City    Inhouse/BRIN
                          Industry: Navigating Change,                May
                          Innovation and Governance

                          EMP - Staying Relevant in the Ride         25 Juli        BSD City    Inhouse/Sigit Priawan Djokosoetono -
                          - Hailing Era: Bluebird's Strategy in       July                      Vice President Director Bluebird Group
                          Responding to Consumer Behavior

                          From Vision to Impact: Leadership       19 September      BSD City    Inhouse/Maspiyono - Managing
                          in a Rapidly Evolving Market                                          Director PT Mayora Indah Tbk

                          AI Impact for Finance                   25 September      BSD City    Inhouse/Deloitte

                          Executive Leadership Masterclass         9 Oktober        Jakarta     Sinarmas Agri/Peter Bekker - CEO of
                                                                    October                     World Business Council for Sustainable
                                                                                                Development

                          Leading the Future: Customer First,      24 Oktober       BSD City    Inhouse/Dr. Aviliani, M.Si - President
                          Data Driven                               October                     Commissioner of PT Allo Bank Indonesia

                          Shaping the Future: Leadership          28 November       BSD City    Inhouse/Dewa Made Susila - President
                          Strategies for Sustainable Success                                    Director of PT Adira Dinamika Multi Finance


 Handoko Wibowo           2H24 Greater Jakarta Property             25 April        BSD City    Inhouse/Jones Lang LaSalle
                          Market Review & Property Market
                          Outlook 2025

                          Sinar Mas Values                           6 Mei          BSD City    Inhouse/E-Learning
                                                                     May

                          Leading the Future: Customer First,      24 Oktober       BSD City    Inhouse/Dr. Aviliani, M.Si - President
                          Data Driven                               October                     Commissioner of PT Allo Bank
                                                                                                Indonesia



Catatan Notes

EMP: Executive Management Program




Penilaian Kinerja Unit Kerja Audit Internal                                Performance Assessment of Internal Audit Unit
[SEOJK 2.g.2.e.1] [SEOJK 2.g.2.e.2]
Direksi membentuk Unit Kerja Audit Internal untuk                          The Directors established the Internal Audit Unit to
menerapkan sistem pengendalian internal,                                   ensure the effective and efficient implementation
manajemen risiko dan governansi perusahaan                                 of internal control systems, risk management
secara efektif dan efisien.                                                and corporate governance.

Standar    kinerja   tahunan    dari    masing-                            The performance standards of each aspect are
masing aspek ditentukan oleh Direksi setelah                               determined by the Directors following deliberation
mempertimbangkan masukan dari unit kerja.                                  on inputs from the respective work unit. The Unit
Penilaian kinerja dilaporkan oleh Kepala Unit                              Head is responsible for presenting the performance
kepada Direksi setidak-tidaknya sekali setahun.                            evaluation to the Directors annually at a minimum.



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Setelah melakukan evaluasi terhadap proses                Upon reviewing the workflow and outcomes
kerja dan hasil dari Unit Kerja Audit Internal, serta     of the Internal Audit Work Unit, along with the
mempertimbangkan penilaian kinerja yang                   performance evaluation presented by the Unit
dilaporkan oleh Kepala Unit kepada Direksi di             Head to the Directors in 2025, it was concluded
tahun 2025, Direksi menetapkan bahwa Unit Kerja           that the Internal Audit Working Unit has effectively
Audit Internal telah bekerja dengan baik sesuai           fulfilled its designated responsibilities and
dengan tugas dan fungsi yang ditetapkan.                  obligations.




Dewan Komisaris
Board of Commissioners

BOC telah memiliki Piagam BOC No.001/BOC/                 The BOC have issued the Charter No.001/BOC/
DP/XII/2015 tanggal 7 Desember 2015 [SEOJK 2.g.3.b],      DP/XII/2015, dated December 7th, 2015, outlines
yang memuat antara lain landasan hukum,                   the legal basis, structure, membership criteria,
struktur    dan     keanggotaan,       kriteria dan       independence, duties, responsibilities and
independensi, kewenangan, rapat, pelaporan                authorities, as well as the mechanisms for
dan pertanggungjawaban. BOC Perusahaan                    meetings, reporting and accountability. The BOC
dalam pelaksanaan kegiatan pengawasan aktif               use the Charter as a reference for their active
berlandaskan pada Piagam tersebut. Secara                 monitoring activity. The BOC periodically review
berkala, BOC melakukan tinjauan atas Piagam               the Charter to ensure its continued relevance
BOC dan menilai Piagam BOC tersebut masih                 to the Company’s business development.
relevan dengan kondisi perkembangan bisnis                The Charter is available for download on the
Perusahaan. [PUGKI 1.3.10] Piagam BOC dapat diunduh       Company’s websites www.sinarmasland.com
di situs web Perusahaan www.sinarmasland.com              and www. dutapertiwi.com.
dan www.dutapertiwi.com [ACGS D.1.1]


Struktur dan Keanggotaan                                  Structure and Composition
BOC dipimpin oleh Komisaris Utama. [PUGKI 1.3.13] Total   BOC is chaired by the President Commissioner.
anggota BOC sekurang-kurangnya berjumlah 3                The total number of the BOC members should be
(tiga) orang dengan jabatan sebagai berikut:              at least 3 (three) persons of the nomenclature of
                                                          the following titles:
1. 1 (satu) orang Komisaris Utama;                        1. 1 (one) President Commissioner;
2. 1 (satu) orang Wakil Komisaris Utama atau lebih;       2. 1 (one) Vice President Commissioner or more;
3. 1 (satu) orang Komisaris atau lebih;                   3. 1 (one) Commissioner or more;
4. 1 (satu) orang Komisaris Independen atau               4. 1 (one) Independent Commissioner or more.
   lebih. Paling kurang 30% (tiga puluh persen)               No less than 30% of the total members of the
   dari jumlah anggota BOC adalah Komisaris                   BOC are Independent Commissioners.
   Independen. [PUGKI 2.1.7]

BOC diangkat dan diberhentikan melalui                    The BOC is appointed and dismissed through a
keputusan RUPS untuk masa jabatan tertentu                GMS resolution for specific tenure, at the latest
yang selama-lamanya adalah sampai dengan                  until the closing of the fifth year GMS and can be
ditutupnya RUPST ke-5, dan dapat diangkat                 reappointed.
kembali. [ACGS D.3.11]

Piagam BOC mengatur bahwa anggota BOC                     The Charter for the BOC stipulates that BOC
hanya dapat merangkap jabatan sebanyak-                   members are limited to holding positions as
banyaknya sebagai anggota Direksi pada 2 (dua)            members of the Directors at 2 (two) issuers or
emiten atau perusahaan publik lain dan anggota            the other public companies and BOC members
BOC pada 2 (dua) emiten atau perusahaan publik            at 2 (two) issuers or other public companies;
lain; atau hanya sebagai anggota BOC pada                 at a maximum of four issuers or other public
4 (empat) emiten atau perusahaan publik lain              companies as BOC members. Additionally, if


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dan anggota komite pada 5 (lima) emiten atau       an individual concurrently serves as a BOC
perusahaan publik dimana yang bersangkutan         member or a director member, they may also be
juga menjabat sebagai anggota Direksi atau         committee member in up to five issuers or public
BOC. [ACGS D.2.6]                                  companies.

Pada tahun ini, sesuai dengan rekomendasi NRC,     This year, following the NRC’s recommendation,
RUPST mengangkat kembali semua anggota             the AGMS reappointed all members of the BOC
BOC setelah memberikan pelunasan dan               after granting them release and discharge of
pembebasan tanggung jawab. Dengan demikian,        responsibility. Thus, there were no changes in
tidak ada perubahan pada susunan BOC [PUGKI        the composition of the BOC. Following thorough
1.3.3]. Dengan mempertimbangkan karakteristik,     consideration to the business characteristics,
kapasitas, ukuran dan kebutuhan bisnis [PUGKI      capacity, size and needs, the members of the BOC
2.1.6.2], jumlah anggota BOC Perusahaan adalah 4   of the Company amounting to 4 (four) people
(empat) orang dengan susunan per 31 Desember       with the following composition as of December
2025 sebagai berikut:                              31st, 2025:


Muktar Widjaja                       Komisaris Utama
                                     President Commissioner

Franciscus Xaverius R.D              Wakil Komisaris Utama
                                     Vice President Commissioner

Prof. DR. Teddy Pawitra              Komisaris Independen
                                     Independent Commissioner

Prof. DR. Susiyati Bambang Hirawan   Komisaris Independen
                                     Independent Commissioner



Masa jabatan mereka adalah sampai dengan           Their term of office is until the closing of the
ditutupnya RUPST untuk tahun buku yang             AGMS for the financial year ending December 31st,
berakhir pada tanggal 31 Desember 2029 tanpa       2029, without prejudice to the right of the GMS to
mengurangi hak RUPS untuk memberhentikan           dismiss one or all members before their term of
salah satu atau semua anggota sebelum masa         office ends.
jabatannya berakhir.




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Keberagaman [PUGKI 2.1.6]                                               Diversity
Susunan BOC mewakili berbagai latar belakang                            The composition of the BOC represents various
pendidikan dan pengalaman yang dipandang                                educational background and work experiences
sesuai dalam situasi yang sedang dihadapi                               that is deemed in accordance with the Company’s
Perusahaan. Keberagaman ini memungkinkan                                current situation. Diversity allows the BOC to
BOC untuk mengembangkan pandangan yang                                  develop comprehensive views on discussed
komprehensif pada hal-hal yang dibahas                                  matters before a decision is made.
sebelum pembuatan keputusan.

Kebijakan mengenai keberagaman susunan BOC                              Policy regarding the diversity in the composition
maupun tujuan terukur atas keberagaman dalam                            of the BOC as well as measurable objectives of
susunan BOC yang disesuaikan dengan rencana                             diversity is aligned with the long-term plan of the
jangka panjang yang telah dimiliki Perusahaan                           Company shown in the table below:
yang tampak pada tabel di bawah ini: [ACGS (B).D.1.2]
[PUGKI 2.1.3] [PUGKI 2.1.6]




 Nama                                     Pendidikan                               Usia   Catatan [PUGKI 2.1.6.1]
 Name                         Gender      Education                                Age    Note



 Muktar Widjaja               Laki-laki   Sarjana Administrasi Bisnis               71    Berpengalaman lebih dari 40 tahun
                              Male        Bachelor’s degree in business                   di bisnis properti dan berhasil
                                          administration                                  mengantarkan Perusahaan menjadi
                                          University of Concordia, Montreal,              perusahaan properti terkemuka di
                                          Canada                                          Indonesia.
                                                                                          Has more than 40 years of experience
                                                                                          in the property business and has
                                                                                          succeeded in making the Company the
                                                                                          leading property company in Indonesia.


 Franciscus                   Laki-laki   Sarjana Teknik Sipil,                     72    Berpengalaman lebih dari 35 tahun di
 Xaverius R.D                 Male        Jurusan Jalan Raya                              bidang teknik dan perencanaan properti,
                                          Bachelor’s Degree in Civil Engineering          pengembangan bisnis serta manajemen.
                                          Department of Highway Major                     Has more than 35 years of experience
                                          Institut Teknologi Bandung                      in engineering and property
                                          Bandung Institute of Technology                 planning, business development and
                                                                                          management.
                                          Sarjana Teknik Sipil
                                          Bachelor’s degree in civil engineering
                                          Universitas Katolik, Parahyangan,
                                          Bandung
                                          Parahyangan Catholic University,
                                          Parahyangan, Bandung


 Prof. DR. Teddy              Laki-laki   Doktor bidang Ilmu Ekonomi               90     Berpengalaman lebih dari 50 tahun
 Pawitra                      Male        Doctorate in Economy                            di bidang keuangan dan akuntansi,
                                          Universitas Airlangga, Surabaya,                manajemen, kepatuhan dan aktif di
                                          Indonesia (bekerja sama dengan                  dunia akademisi.
                                          Erasmus University, Rotterdam)                  Has more than 50 years of experience
                                          Airlangga University, Surabaya,                 in finance, accounting, management,
                                          Indonesia (in cooperation with Erasmus          compliance and active in the academic
                                          University, Rotterdam)                          world.


 Prof. DR. Susiyati           Perempuan   Doctor of Philosophy, School of Public   79     Berpengalaman lebih dari 50 tahun
 Bambang Hirawan              Female      Policy                                          di bidang keuangan dan akuntansi,
 [ACGS (B).D.1.1]                         University of Birmingham, England               manajemen, kepatuhan dan aktif di
                                                                                          dunia akademisi.
                                                                                          Has more than 50 years of experience
                                                                                          in finance, accounting, management,
                                                                                          compliance and active in the academic
                                                                                          world.




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Tugas dan Tanggung Jawab [SEOJK 2.g.3.a] [ACGS D.1.3]    Duties and Responsibilities
Piagam BOC mengatur bahwa BOC bertugas                   The Charter for the BOC regulates that the
melakukan pengawasan dan bertanggung                     BOC was tasked with supervising and being
jawab atas pengawasan terhadap kebijakan                 responsible supervising management policies,
pengurusan,     jalannya   pengurusan        pada        the overall management direction concerning
umumnya, baik mengenai Perusahaan maupun                 both the Company and its business operations
usaha Perusahaan dan memberikan nasihat                  and providing advice to the Directors. The BOC
kepada Direksi. Dalam pelaksanaannya, BOC                is required to act independently in fulfilling its
wajib bersikap independen.                               obligations.

Di dalam melaksanakan tugasnya, 3 (tiga) orang           In carrying out the said duties, 3 (three) members
anggota BOC secara bersama-sama berhak dan               of the BOC jointly have the right and authority to
berwenang bertindak untuk dan atas nama BOC              act for and on behalf of the BOC and to represent
serta mewakili Perusahaan. [ACGS D.1.2]                  the Company.

Sebagaimana yang diatur dalam AD Perusahaan,             As outlined in the Company’s AoA, scope which
ruang lingkup yang memerlukan persetujuan                required approval from BOC, among others:
BOC [PUGKI 1.3.2] antara lain:
a. Rencana kerja yang memuat juga anggaran               a. The Company’s annual work and budget plan;
   tahunan Perusahaan; dan                                  and
b. Pengelolaan dana cadangan wajib.                      b. The mandatory reserve fund management.

Agar pelaksanaan pengawasan berjalan lancar,             For the supervisory responsibilities to perform
BOC wajib:                                               well, the BOC must:
1. Menyelenggarakan RUPS Tahunan dan RUPS                1. Organize Annual GMS and other GMS in
   lainnya sesuai kewenangannya sebagaimana                 accordance with their authority as stipulated
   diatur dalam perundang-undangan dan AD                   in the legislation and the Company’s AoA.
   Perusahaan.
2. Membentuk komite-komite yang diketuai                 2. Establish    Committees      chaired      by    an
   oleh Komisaris Independen termasuk Komite                Independent         Commissioner         including
   Audit dan NRC serta komite lainnya yang                  the Audit Committee and NRC and other
   mendukung efektivitas pelaksanaan tugas dan              committees to support the effectiveness
   tanggung jawabnya. BOC wajib memastikan                  of the implementation of BOC’s tasks and
   bahwa Komite-komite yang telah dibentuk                  responsibilities. The BOC must ensure that all
   menjalankan tugasnya secara efektif. BOC wajib           committees implement their tasks effectively.
   melakukan evaluasi terhadap kinerja Komite               The BOC is required to conduct an evaluation
   yang membantu pelaksanaan tugas dan                      of the performance of the committees that
   tanggung jawabnya setiap akhir tahun buku.               support the implementation of their duties and
                                                            responsibilities at every end of the fiscal year.
3. Meningkatkan     kompetensi         anggota-          3. Improve the competence of its members
   anggotanya melalui pendidikan dan pelatihan              through continuous education and training,
   secara terus menerus, memahami peraturan                 be familiar with regulations and have general
   dan memiliki pengetahuan umum terkait                    knowledge related to the economy and
   perekonomian dan industri properti.                      property industry.

Sebagaimana yang diatur dalam Piagam BOC,                As outlined in the BOC Charter, the BOC is
BOC diberi kewenangan untuk mengakses semua              authorized to access all Company’s data that are
data Perusahaan yang dianggap perlu [PUGKI 3.2.1],       deemed necessary, have direct communication
berkomunikasi secara langsung dengan semua               to all parties including the Directors, as well as to
pihak termasuk Direksi, serta melibatkan pihak           engage independent parties outside of the BOC.
independen di luar BOC. [PUGKI 1.3.13] [PUGKI 3.2.1.1]




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Independensi Dewan Komisaris                             Independence of BOC
BOC wajib melaksanakan tugasnya secara                   The BOC must fulfill its responsibilities
independen untuk memastikan bahwa Perusahaan             independently to ensure that the Company
melindungi kepentingan semua pemegang saham              protects the interests of all shareholders equally
secara setara dan mekanisme pengawasan                   and the oversight mechanisms to the Company’s
aktivitas Perusahaan berjalan secara efektif dan         activities operate function effectively and adhere
memenuhi ketentuan yang berlaku.                         to relevant regulations.


Komisaris Independen dan Pernyataan                      Independent Commissioner and Statement of
Independensi Komisaris Independen [SEOJK 2.e.10.h]       Independence by Independent Commissioner
Perusahaan     memiliki       2        (dua) Komisaris   The Company has 2 (two) Independent
Independen, dari total 4 (empat) anggota BOC,            Commissioners, out of the total 4 (four) members
yang mana telah sesuai persyaratan pencatatan            of the BOC, which is in accordance with the BEI
BEI setidaknya 30% (tiga puluh persen) dari              listing requirements, at least 30% (thirty percent)
anggota BOC wajib merupakan Komisaris                    of the BOC members must be Independent
Independen. [ACGS D.2.4] [PUGKI 2.1.7]                   Commissioners.

Komisaris Independen adalah anggota BOC yang             Independent Commissioners are members of
tidak terafiliasi dengan anggota Direksi, BOC lainnya    the BOC who are not affiliated with members
dan pemegang saham pengendali, serta bebas               of the Directors, other BOC’s and controlling
dari hubungan bisnis atau hubungan lainnya yang          shareholders and is free from business
dapat mempengaruhi kemampuannya untuk                    relationships or other relationships that could
bertindak independen atau bertindak semata-              affect their ability to act independently or solely
mata untuk kepentingan Perusahaan.                       in the interest of the Company.

Selain tugas dan fungsi pengawasan terhadap              In addition to the duties and functions of
jalannya operasional Perusahaan secara umum              supervising the general operations of the
dan memastikan kepatuhan terhadap peraturan              Company and ensuring compliance with
dan perundangan yang berlaku, Komisaris                  applicable legislations and regulations, the
Independen juga mempunyai tanggung jawab                 Independent Commissioner also has a special
khusus yaitu mewakili kepentingan pemegang               responsibility to represent the interests of the
saham minoritas. [PUGKI 1.3.12.2]                        Company’s minority shareholders.

Komisaris Independen, dengan mengacu pada                Independent Commissioners with reference to
kriteria peraturan perundangan yang berlaku,             the criteria of applicable laws and regulations,
dalam hal ini yaitu POJK No.33, sebagaimana              in this circumstance the POJK No.33, as also
diatur juga dalam AD Perusahaan, harus                   stipulated in the Company’s AoA, must meet the
memenuhi kriteria di bawah ini:                          following criteria:
a. Bukan merupakan orang yang bekerja atau               a. Not an individual who works or has the authority
    mempunyai       wewenang     dan   tanggung              and responsibility to plan, lead, control or
    jawab untuk merencanakan, memimpin,                      supervise the Company’s activities within 6
    mengendalikan atau mengawasi kegiatan                    (six) months, except for re-appointment as an
    Perusahaan dalam waktu 6 (enam) bulan                    Independent Commissioners of the Company
    terakhir, kecuali untuk pengangkatan kembali             in the following period;
    sebagai Komisaris Independen Perusahaan
    pada periode berikutnya;
b. Tidak mempunyai saham baik langsung                   b. Does not hold shares either directly or indirectly
    maupun tidak langsung pada Perusahaan;                  in the Company;
c. Tidak mempunyai hubungan afiliasi dengan              c. Has no affiliation with the Company, BOC
    Perusahaan, anggota BOC, anggota Direksi                member, members of the Directors or
    ataupun pemegang saham Perusahaan; dan                  shareholders of the Company; and
d. Tidak mempunyai hubungan usaha baik                   d. Does not have a business relationship, either
    langsung maupun tidak langsung yang                     directly or indirectly, related to the Company’s
    berkaitan dengan kegiatan usaha Perusahaan.             business activities.




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Komisaris Independen yang telah menjabat              Independent Commissioners who have served for
selama 2 (dua) periode masa jabatan dapat             2 (two) terms of office can be reappointed in the
diangkat kembali pada periode selanjutnya             following period as long as the person concerned
sepanjang yang bersangkutan menyatakan                declares that he or she remains independent
dirinya tetap independen kepada RUPS. Semua           to the GMS. Each Independent Commissioner
Komisaris    Independen            Perusahaan telah   has declared its independence periodically, by
menyatakan independensinya secara berkala,            signing a statement of independence.
dengan menandatangani surat pernyataan
independensi. [SEOJK 2.e.10.h] [ACGS D.2.5]

Rapat [SEOJK 2.g.3.c]                                 Meetings
Rapat BOC wajib diadakan sekurang-kurangnya           Meetings of the BOC are held at least 1 (once)
1 (satu) kali setiap 2 (dua) bulan [ACGS D.3.2] dan   every 2 (two) months and a joint meeting with the
rapat gabungan dengan Direksi sekurang-               Directors at least 1 (once) every 4 (four) months.
kurangnya 1 (satu) kali setiap 4 (empat) bulan.       Calls for BOC meetings are made by 3 (three)
Panggilan rapat BOC dilakukan oleh 3 (tiga)           Commissioners. The BOC has set scheduled
orang anggota BOC. BOC telah menetapkan               meetings of the BOC for the year as of the end of
jadwal Rapat BOC tahun berjalan pada akhir            the previous year.
tahun buku sebelumnya.

Rapat BOC dipimpin oleh Komisaris Utama atau          Meetings of the BOC are chaired by the President
diketuai oleh salah seorang anggota BOC yang          Commissioner or one of the members of BOC that
dipilih oleh dan dari anggota BOC yang hadir          were present and nominated in the Meeting, shall
dalam Rapat tersebut. Bahan rapat tersebut            preside over the BOC Meeting. The meeting materials
telah disampaikan paling lambat 5 (lima) hari         should have been submitted to the participants at
sebelum penyelenggaraan. [ACGS D.3.6]                 least 5 (five) days prior to the Meeting.

Keputusan rapat hanya sah dan dapat                   Meeting resolutions are only valid and can make
mengambil        keputusan-keputusan      yang        binding decisions if more than ½ (one half) of the
mengikat apabila lebih dari ½ (satu per dua)          Directors are present and/or represented in the
bagian Direksi yang hadir dan/atau diwakili           meeting. Decisions in the meeting must be made
dalam rapat. Keputusan rapat diambil atas             based on deliberation to reach a consensus.
musyawarah untuk mufakat. Bila mufakat tidak          In the event that it is impossible to attain, the
dapat tercapai, maka pengambilan keputusan            decision making shall be based on affirmative
didasarkan dengan pemungutan suara setuju             votes, which shall be more than half of the total
lebih dari ½ (satu per dua) bagian dari jumlah        votes validly cast in the meeting.
suara yang dikeluarkan dengan sah dalam Rapat
tersebut.

Piagam BOC mengatur ketentuan salah satu              The BOC Charter stipulates that in any condition
anggota BOC yang secara pribadi dengan                that one of the members of the BOC has any
cara apapun baik secara langsung maupun               personal conflict of interest—whether direct or
secara tidak langsung mempunyai benturan              indirect—related to any of the Meeting agendas,
kepentingan dengan salah satu agenda Rapat,           that member is not entitled to participate in
maka anggota BOC tersebut tidak berhak untuk          voting on that specific agenda.
ikut dalam pengambilan suara pada agenda
tersebut. [ACGS A.8.2] [ACGS App.B.4.1]




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Sepanjang tahun 2025, BOC telah melaksanakan                                     Throughout 2025, the BOC held 6 (six) Internal
rapat sebanyak 6 (enam) kali Rapat Internal                                      Directors Meetings, 4 (four) Joint Meetings with
BOC dan 4 (empat) Rapat Gabungan dengan                                          the BOC and 1 (one) AGMS with the following
BOC dan 1 kali RUPST, dengan catatan kehadiran                                   attendance record:
sebagai berikut:

                                          Rapat Dewan Komisaris (6 Rapat)                  Rapat Gabungan Direksi dan BOC (4 rapat)
                                   The Board of Commissioners Meeting (6 Meetings)       Joint Meeting of Directors and BOC (4 meetings)
                                             [SEOJK 2.g.3.c] [ACGS E.D.3.3]                       [SEOJK 2.g.3.c] [ACGS E.D.3.3]           Kehadiran
                                                  [ACGS App. D.2.6]                                     [ACGS App. D.2.6]                  RUPST
    Nama
No.                                                                                                                                        Attendance in
    Name
                                                                                                                                           AGMS
                                    Jumlah Kehadiran                                    Jumlah Kehadiran
                                                          Persentase Kehadiran (%)                            Persentase Kehadiran (%) [ACGS A.2.7]
                                       Number of                                           Number of
                                                          Attendance Percentage (%)                           Attendance Percentage (%)
                                       Attendance                                          Attendance



   1 Muktar Widjaja                          6                       100%                        4                         100%                     *


   2 Franciscus Xaverius R.D                 6                       100%                        4                         100%            Hadir Present


   3 Prof. DR. Teddy Pawitra                 6                       100%                        4                         100%            Hadir Present


   4 Prof. DR. Susiyati                      6                       100%                        4                         100%                    **
      Bambang Hirawan




 *) Berhalangan hadir karena menghadiri pertemuan yang tidak dapat diwakilkan
    were unable to attend the meeting due to prior important commitments that prohibited representation through a proxy.

**) Berhalangan hadir karena sakit
    unable to attend the meeting because of an illness.




Program Orientasi dan Pengembangan                                               Orientation and Competencies Development
Kompetensi [SEOJK 2.g.3.d]                                                       Programs
Perusahaan belum memiliki program pengenalan                                     The Company does not have an induction
bagi anggota BOC yang baru diangkat. Namun                                       program for newly appointed members of the
demikian, jika terdapat pengangkatan anggota                                     BOC. However, in the event of a new member
BOC yang baru, Perusahaan menyediakan                                            of BOC appointment, the Company will ensure
informasi yang cukup terkait kegiatan usaha                                      they receive comprehensive details about the
Perusahaan dan penjelasan mengenai tugas                                         Company’s business activity, along with an
dan tanggung jawab Direksi. [ACGS D.5.1]                                         overview of the BOC’s roles and responsibilities.

Berdasarkan Piagam BOC, anggota BOC                                              According to the Charter for the BOC, it
harus selalu meningkatkan kompetensi yang                                        is imperative for members of the BOC to
menunjang pelaksanaan tugasnya melalui                                           continuously enhance their competencies to
partisipasi di dalam pelatihan dan program-                                      effectively fulfill their responsibilities by engaging
program pengembangan lainnya. [ACGS D.5.2]                                       in training and developmental initiatives.
[PUGKI 1.7.1]




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Program pelatihan dan pengembangan yang                             The training and development programs that the
diikuti oleh BOC pada tahun 2025 adalah sebagai                     BOC participated in during 2025 are as follows:
berikut: [SEOJK 2.g.3.d.2] [PUGKI 1.7.1.2]



Nama                 Topik                                              Tanggal       Tempat      Pelaksana
Name                 Subject                                              Date         Venue      Provider/Facilitator



Prof. DR. Teddy      Risk and Governance Summit 2025: Empowering        19 Agustus     Webinar    OJK
Pawitra              the GRC Ecosystem to Drive Economic Growth           August
                     and National Resilience

Prof. DR. Susiyati   Risk and Governance Summit 2025: Empowering        19 Agustus     Webinar    OJK
Bambang Hirawan      the GRC Ecosystem to Drive Economic Growth           August
                     and National Resilience

                     Sinar Mas Digital Day: Together We Grow Far,       19 Agustus     BSD City   Sinar Mas Group
                     Fast, Toward Infinite Future                         August




Penilaian Kinerja Direksi [SEOJK 2.g.3.e] [ACGS D.5.5]              Performance Assessment of the Directors
Penilaian kinerja Direksi dilakukan melalui                         The evaluation of the Directors’ performance is
mekanisme RUPST Perusahaan, yang mana                               conducted during the AGMS, where shareholders
para pemegang saham menilai kinerja Direksi                         assess the Directors based on the performance
berdasarkan laporan kinerja Direksi yang                            report presented to them.
dilaporkan kepada pemegang saham.

Penilaian didasarkan pada laporan kinerja Direksi                   The assessment relies on the performance
yang disampaikan pada RUPS. Berdasarkan                             report of the Directors presented to the GMS.
laporan tersebut, pemegang saham melakukan                          Subsequently, the shareholders will assess the
penilaian terhadap kinerja Direksi selama tahun                     Directors’ performance for the ongoing year
buku berjalan.                                                      based on this report.

Pada tahun 2025, BOC melalui NRC Perusahaan                         In 2025, the BOC through the Company’s NRC
melakukan evaluasi atas kinerja Direktur Utama                      conducted an evaluation of the President
dan anggota Direksi lainnya beserta fokus area                      Director and the others member of the Directors’
[ACGS D.5.6] [PUGKI 1.2.1], yang mana penilaian kinerja             performance and adjustments based on specific
dilakukan secara 2 (dua) arah: penilaian mandiri                    areas of focus. The evaluation process consisted
(self-assessment) [PUGKI 1.2.1.1] dan evaluasi oleh                 in 2 (two) ways: self-assessment and assessment
NRC. Termasuk di dalam indikator evaluasi kinerja                   by NRC. The evaluation criteria for the Directors
Direksi adalah [PUGKI 1.2.2]:                                       included:
a. Fokus Area Keuangan: pencapaian target                           a. Finance Area Focus: the achievement of the
   keuangan Perusahaan;                                                 Company’s financial target;
b. Fokus Area Kemitraan Strategis: kemampuan                        b. Strategic Partnership Area Focus: the ability
   Perusahaan untuk dapat melakukan ko-kreasi                           of the Company to co-create the innovative
   atas produk dan jasa inovatif;                                       products or services;
c. Fokus Area Indeks Produktivitas: rasio                           c. Productivity Index Area Focus: ratio of the
   pendapatan per jumlah karyawan;                                      revenue per the number of employees;
d. Fokus Area Kepuasan Pelanggan: Indeks                            d. Customer Satisfaction Area Focus: Customer
   Kepuasan Pelanggan mengukur kepuasan                                 Satisfaction Index measure of customer
   pelanggan terhadap produk dan pelayanan                              satisfaction to the products and services
   yang diberikan oleh Perusahaan;                                      provided by the Company;
e. Fokus        Area          Pengembangan     Talenta:             e. Talent Development Program Area Focus:
   penyelesaian               Individual Development                    the completion of Individual Development
   Program berdasarkan Analisis Kebutuhan                               Program based on Development Need
   Pengembangan dalam bidang properti,                                  Analysis in property, leadership and business
   kepemimpinan dan strategi bisnis; dan                                strategy; and



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f. Fokus Area Penempatan Sumber Daya                          f. Manpower Fulfillment Area Focus: ratio of
   Manusia: rasio karyawan yang diterima                         hired employee to the approved manpower
   terhadap rencana sumber daya manusia                          planning to achieve the desired goal.
   yang telah disetujui untuk mencapai tujuan-
   tujuan yang diinginkan.

Selain melakukan evaluasi melalui indikator                   Alongside assessing performance indicators,
kinerja,  evaluasi   terhadap  peningkatan                    evaluating competency enhancements and
kompetensi dan kehadiran dalam rapat, BOC                     attendance at meetings, the BOC through the
melalui NRC menetapkan masing-masing                          NRC, has concluded that each member of the
anggota Direksi telah bekerja dengan baik                     Directors has performed effectively throughout
selama tahun buku 2025.                                       the 2025 financial year.


Penilaian Kinerja Komite Audit [SEOJK 2.g.3.f]                Performance Assessment of the Audit
[ACGS D.5.7] [PUGKI 1.5.1]                                    Committee
BOC telah membentuk Komite Audit untuk                        BOC has instituted the Audit Committee to
membantu melakukan pengawasan terhadap                        effective and efficiently aid in overseeing the
pengendalian internal yang efektif dan efisien.               internal controls.

Kinerja Komite diukur dari pelaksanaan semua                  The performance of the Committee is evaluated
rencana kerja dan anggaran yang telah ditetapkan              based on the execution of all work plans and
di awal tahun bersama dengan BOC, peningkatan                 budgets established collaboratively with the BOC
kompetensi dan kehadiran dalam rapat.                         at the commencement of the year, competency
                                                              enhancements and attendance at meetings.

Setelah melakukan evaluasi terhadap proses                    Upon evaluating the work processes and
kerja dan hasil dari Komite Audit selama tahun                outcomes of the Audit Committee in 2025, the
2025, maka BOC menetapkan bahwa Komite                        BOC concludes that the Audit Committee has
Audit telah bekerja dengan baik sesuai dengan                 effectively fulfilled its designated responsibilities
tugas dan fungsi yang ditetapkan.                             and obligations.


Penilaian Kinerja Komite Nominasi dan                         Performance Assessment of the Nomination
Remunerasi (NRC) [SEOJK 2.g.3.f] [ACGS D.5.7] [PUGKI 1.5.1]   and Remuneration Committee (NRC)
BOC telah membentuk NRC untuk memberikan                      The BOC has instituted NRC to provide unbiased
rekomendasi-rekomendasi           terkait       nominasi      and professional recommendations on the
dan remunerasi anggota Direksi dan BOC                        appointment and remuneration of members
secara independen, profesional, sesuai standar                of the Directors and BOC, in accordance with
industri serta dengan memperhatikan kebutuhan                 industry standards and the Company’s policies.
Perusahaan.

Kinerja Komite diukur dari pelaksanaan semua                  The performance of the Committee is evaluated
rencana kerja dan anggaran yang telah ditetapkan              based on the execution of all work plans and
di awal tahun bersama dengan BOC, peningkatan                 budgets established collaboratively with the BOC
kompetensi dan kehadiran dalam rapat.                         at the commencement of the year, competency
                                                              enhancements and attendance at meetings.

Setelah melakukan evaluasi terhadap proses                    After evaluating the work processes and
kerja dan hasil dari NRC selama tahun 2025, BOC               outcomes of the NRC in 2025, the BOC concludes
menetapkan bahwa NRC telah bekerja dengan baik                that the NRC has effectively fulfilled its designated
sesuai dengan tugas dan fungsi yang ditetapkan.               responsibilities and obligations.




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Nominasi dan Remunerasi
Direksi dan Dewan Komisaris
Nomination and Remuneration of the Directors
and the Board of Commissioners

Pengangkatan, pemberhentian serta penetapan                     The appointment, dismissal and determination of
remunerasi anggota Direksi dan BOC adalah                       remuneration for members of the Directors and
wewenang para pemegang saham melalui RUPS.                      BOC fall under the authority of shareholders through
Agar pemegang saham mendapatkan kandidat                        the GMS. To ensure shareholders secure top-tier
terbaik dan memberikan remunerasi yang                          candidates and offer remuneration that maximizes
mampu mengoptimalkan kinerja anggota Direksi                    the performance of the members of Directors and
dan BOC, maka proses nominasi dan remunerasi                    BOC, the nomination and remuneration processes
anggota Direksi dan BOC dilakukan oleh BOC yang                 are overseen by the BOC with support from the
dibantu Komite Nominasi dan Remunerasi (NRC).                   Nomination and Remuneration Committee (NRC).


Prosedur Nominasi [SEOJK 2.g.4.a] [ACGS D.3.9] [ACGS D.3.10]    Nomination Procedure
[ACGS (B).D.2.2] [PUGKI 1.3.3]
Proses pemilihan anggota Direksi dan BOC                        The process of selecting members of the
secara berkesinambungan dilakukan oleh NRC                      Directors and BOC is an ongoing task overseen
untuk mendapatkan kandidat-kandidat yang                        by the NRC to ensure that candidates align with
sesuai dengan kebutuhan Perusahaan. Proses ini                  the Company’s requirements. This procedure is
dilaksanakan baik karena periode pengurusan                     essential as it coincides with the conclusion of
yang akan berakhir maupun karena adanya                         management terms, also the necessity for new
kebutuhan penambahan anggota baru dan/                          appointments due to additions or resignations
atau pengunduran diri salah satu anggota.                       within the current membership.

Berikut adalah kriteria dasar yang digunakan NRC                The criteria outlined below are fundamental to
untuk proses nominasi, sesuai dengan Piagam                     the NRC’s nomination process, aligning with the
Direksi dan Piagam BOC. [PUGKI 2.1.5]                           Directors’ Charter and the BOC’s Charter.


                                                                                                     Direksi
 Kriteria [PUGKI 2.1.2]                           Criteria                                                      BOC
                                                                                                    Directors



 Mempunyai akhlak, moral dan integritas yang      Have a good character, morale and integrity.         √        √
 baik.

 Cakap melakukan perbuatan hukum.                 Able to perform legal acts.                          √        √

 Dalam 5 (lima) tahun sebelum pengangkatan:       In 5 (five) years before appointment:                √        √


 1.   Tidak pernah dinyatakan pailit.             1.   Never been declared bankrupt.                   √        √


 2.   Tidak pernah dihukum karena melakukan       2.   Never been convicted of a criminal offense      √        √
      tindak pidana yang merugikan keuangan            that harms the country financial and/or
      negara dan/atau yang berkaitan dengan            related to the financial sector.
      sektor keuangan.




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                                                                                                           Direksi
Kriteria [PUGKI 2.1.2]                            Criteria                                                            BOC
                                                                                                          Directors



3.   Tidak pernah menjadi anggota Direksi dan/    3.   Never being a member of Directors and or
     atau anggota BOC yang:                            BOC that during the services:

     a.   Dinyatakan bersalah menyebabkan suatu        a.    Convicted guilty causing the bankruptcy         √         √
          perusahaan dinyatakan pailit.                      at any company.


     b.   Pernah tidak menyelenggarakan RUPS           b.    Have not organized an Annual GMS.               √         √
          tahunan.


     c.   Pertanggungjawabannya pernah tidak           c.    His/her responsibility was not accepted         √         √
          diterima oleh RUPS atau pernah tidak               by the GMS or have not declared
          memberikan pertanggungjawaban                      responsibility to the GMS.
          kepada RUPS.


     d.   Pernah menyebabkan perusahaan yang           d.    Have caused a company that obtained             √         √
          memperoleh izin, persetujuan, atau                 a license, approval or registration from
          pendaftaran dari OJK tidak memenuhi                the OJK not meet the obligation to deliver
          kewajiban menyampaikan laporan                     annual report and/or financial statements
          tahunan dan/atau laporan keuangan                  to the OJK.
          kepada OJK.


Memiliki komitmen untuk mematuhi peraturan        Have a commitment to comply with the                       √         √
perundang-undangan.                               prevailing law and regulation.


Memiliki pengetahuan dan/atau keahlian di         Have knowledge and/or skills needed by the                 √         √
bidang yang dibutuhkan Perusahaan.                Company.


Memiliki wawasan tertentu yang sesuai dengan      Have insights that fit the Company’s current and           √         √
kebutuhan strategis Perusahaan kini dan masa      future strategic needs
depan. [ACGS (B).D.2.2]

Memiliki komitmen terhadap kinerja dan            Have commitment to the performance and                     √         √
keberlanjutan Perusahaan.                         sustainability of the Company


Memiliki kemampuan adaptasi dengan budaya         Have the ability to adapt to the Corporate culture         √         √
dan tata kelola Perusahaan.                       and governance.




Lebih lanjut, sesuai diskusi bersama Direksi                       Moreover, following deliberations among the
dan BOC, NRC juga akan mempertimbangkan                            Directors and the BOC, the NRC will evaluate
keberagaman komposisi Direksi dan BOC. Semua                       the diversity within the composition of both the
kandidat yang dinilai layak dan tepat akan                         Directors and the BOC. Subsequently, all qualified
diajukan kepada BOC untuk ditentukan pilihan                       candidates will be presented to the BOC for
akhir serta diajukan dan ditetapkan melalui                        the final selection process, which will be further
mekanisme RUPS. [ACGS (B).D.1.2]                                   submitted and determined through the GMS.


Kebijakan Suksesi Direksi                                          Directors Succession Policy
[ACGS D.5.3] [PUGKI 1.3.3]
Sampai saat ini, Perusahaan belum memiliki                         To date, the Company does not have a policy
kebijakan mengenai suksesi Direksi. Namun, BOC,                    regarding the succession of the Directors.
dengan dibantu oleh NRC memastikan adanya                          However, the BOC, assisted by the NRC guarantees
rencana suksesi yang jelas dan memadai,                            the implementation of a well-defined succession
disertai proses pemberian jenjang karir, pelatihan,                strategy, along with career advancement
pengembangan, pemberian motivasi bagi                              opportunities, training initiatives, professional
anggota Direksi berikut para eksekutifnya.                         development and motivation for both Directors
                                                                   and its executives.


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         Corporate Governance




Perusahaan memberikan kesempatan yang                                           The Company provides equal opportunities for
sama kepada setiap karyawan untuk mengisi                                       all employees to advance to higher positions,
jabatan yang lebih tinggi sampai dengan Direksi.                                including up to directorial roles. This commitment
Hal ini dinyatakan secara jelas pada Peraturan                                  is explicitly outlined in the Company Regulations,
Perusahaan yang telah diketahui oleh setiap                                     which all employees are familiar with and have
karyawan. Kenaikan jabatan didasarkan kepada                                    consented to. Promotions are determined by
formasi dan kebutuhan Perusahaan, kompetensi                                    the Company’s structure and requirements, as
dan potensi karyawan, serta prestasi kinerja                                    well as by evaluating employees’ competencies,
karyawan. Agar kesempatan promosi tetap                                         potential and performance achievements. To
terbuka di dalam dinamika organisasi, karyawan                                  sustain a culture of open promotion opportunities
dapat mengikuti mutasi maupun pelatihan dan                                     within the organization, employees may undergo
pengembangan sesuai dengan kebutuhan                                            transfers or receive training and development
jabatan     yang    berpotensi    meningkatkan                                  tailored to enhance their skills and capabilities.
kemampuan kerja dan kapabilitasnya.

Pembinaan menuju suksesi yang lancar juga                                       Coaching to facilitate a seamless transition is
didukung oleh Succession Program yang dirancang                                 further reinforced by the Succession Program,
khusus untuk mengidentifikasi talenta-talenta                                   specifically tailored to identify high-potential
berpotensi tinggi dan mempersiapkan mereka                                      talent and prepares them for critical leadership
untuk peran kepemimpinan yang kritikal. Lebih                                   roles. For a comprehensive insight into the
rinci tentang Succession Program dapat dilihat                                  Succession Program, please refer to the Human
pada bagian Sumber Daya Manusia bab Profil                                      Capital section of the Company Profile chapter
Perusahaan di halaman 70-71 Laporan Tahunan ini.                                on page 70-71 in this Annual Report.


Prosedur Remunerasi Direksi                                                     Directors’ Remuneration Procedure
[SEOJK 2.g.4.b] [ACGS D.5.6] [PUGKI 1.2.1] [PUGKI 1.2.2] [PUGKI 1.3.5] [PUGKI
2.2.1]                                                                          The responsibility for determining Directors’
Penetapan remunerasi Direksi merupakan                                          remuneration lies with the GMS, a duty that has
kewenangan RUPS yang telah dilimpahkan                                          been delegated to the BOC. Functionally, the NRC
kepada BOC. Di dalam praktiknya, NRC akan                                       will provide recommendations to the BOC based
memberikan rekomendasi kepada BOC sesuai                                        on the Directors’ performance evaluations.
dengan penilaian kinerja Direksi. [SEOJK 2.g.4.b (1)]

Proses Penilaian kinerja Direksi dilakukan                                      The performance assessment of Directors is an
setiap tahun dan dilakukan secara 2 (dua)                                       annual process that is conducted in two ways:
arah: penilaian mandiri (self-assessment) dan                                   self-assessment and evaluation by the NRC. For
evaluasi oleh NRC. Secara detil indikator evaluasi                              a comprehensive breakdown of the performance
kinerja Direksi dapat dibaca pada halaman 168-                                  evaluation criteria for the Directors, please refer
169 Laporan Tahunan ini.                                                        to page 168-169 of this Annual Report.


Prosedur Remunerasi BOC                                                         BOC Remuneration Procedure
[SEOJK 2.g.4.b] [ACGS D.5.5]
Remunerasi     BOC    ditetapkan      oleh    RUPS                              BOC remuneration is determined by the GMS
berdasarkan laporan kinerja BOC. Kriteria penilaian                             using the BOC performance report as a basis. The
yang digunakan adalah laporan pelaksanaan                                       assessment criteria employed include the BOC
kinerja BOC yang dipertanggungjawabkan dalam                                    performance implementation report, which was
RUPST. Melalui laporan tersebut pemegang                                        reviewed during the AGMS. This report enables
saham melakukan penilaian terhadap kinerja                                      shareholders to assess the BOC’s performance in
BOC selama tahun buku berjalan.                                                 the current fiscal year.
[SEOJK 2.g.4.b (1)] [ACGS D.5.5]




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BOC melalui NRC dalam pelaksanaan evaluasi             The BOC through the NRC in conducting
kinerja dan fokus area untuk anggota BOC, yang         performance evaluations and area focus of the
mana penilaian kinerja dilakukan 2 (dua) arah          BOC was conducted in two ways namely self-
yakni penilaian diri sendiri (self-assessment)         assessment and evaluation by the NRC. The
[PUGKI 1.5.1.1] dan evaluasi oleh NRC. Kebijakan       self-assessment method is determined together
metode penilaian ditentukan bersama di awal            at the beginning of the year, that is specific,
tahun dan bersifat spesifik, terukur, dapat dicapai    measurable, achievable and relevant. Included
dan relevan.        Termasuk di dalam indikator        in the BOC performance evaluation indicators is
evaluasi kinerja BOC adalah fungsi pengawasan          the supervisory function of the Directors:
terhadap Direksi atas: [ACGS D.5.5] [PUGKI 1.5.1.2]
a. Fokus Area Keuangan;                                a. Finance Area Focus;
b. Fokus Area Kemitraan Strategis;                     b. Strategic Partnership Area Focus;
c. Fokus Area Indeks Produktivitas;                    c. Productivity Index Area Focus;
d. Fokus Area Kepuasan Pelanggan;                      d. Customer Satisfaction Area Focus;
e. Fokus Area Pengembangan Talenta; dan                e. Talent Development Program Area Focus; and
f. Fokus Area Penempatan Sumber Daya Manusia.          f. Manpower Fulfillment Area Focus.


Remunerasi Direksi dan BOC [SEOJK 2.g.4.b (2) & (3)]   Directors and BOC Remuneration
[ACGS D.3.2]
Pada tahun 2025 dan 2024, total remunerasi yang        In 2025 and 2024, the total remuneration
diberikan kepada BOC dan Direksi masing-masing         provided to the BOC and the Directors amounted
adalah sebesar Rp10,47 miliar dan Rp11,63 miliar.      to IDR10.47 billion and IDR11.63 billion, respectively.




Komite Audit
Audit Committee
[SEOJK 2.g.6] [ACGS D.2.18] [PUGKI 1.4.1]




BOC telah membentuk Komite Audit untuk                 The BOC has instituted an Audit oversee the
memastikan      kecukupan    dan     integritas        sufficiency and integrity of internal controls,
pengendalian internal, terlaksananya fungsi            implementation of good internal audit and
audit internal dan audit eksternal yang baik           external audit functions in line with professional
dengan standar profesional, serta memastikan           standards and to ensure the Company’s adhere
Perusahaan patuh terhadap semua peraturan              to all pertinent regulations and provisions.
dan ketentuan yang relevan bagi Perusahaan.

Komite Audit telah memiliki Piagam Komite Audit        The Audit Committee has an Audit Committee
yang telah ditetapkan oleh BOC pada tanggal 12         Charter, initially approved by the BOC on
November 2013 dan direvisi pada 26 April 2016.         November 12th, 2013 and subsequently revised
Piagam ini telah mengacu pada POJK No.55               on April 26th, 2016. This charter aligns with POJK
tanggal 23 Desember 2015 tentang Pembentukan           No.55 dated December 23rd, 2015, which outlines
dan Pedoman Pelaksanaan Kerja Komite Audit.            the framework and guidelines for the Audit
Komite Audit melaksanakan kegiatannya dengan           Committee’s functions. The Audit Committee
berlandaskan pada Piagam Komite Audit.                 conducted its activities based on the Audit
[ACGS D.2.21] [PUGKI 1.4.2.1]                          Committee Charter.

Pada saat Laporan Tahunan ini diterbitkan,             At the time this Annual Report is published, the
Piagam Komite Audit telah diperbaharui pada            Audit Committee Charter was updated on March
tanggal 26 Maret 2026.                                 26th, 2026.




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Struktur dan Keanggotaan                                   Structure and Composition
Komite Audit setidak-tidaknya beranggotakan 3              The Audit Committee is mandated to comprise a
(tiga) orang, yang terdiri dari 1 (satu) Komisaris         minimum of three (3) individuals, consisting of 1
Independen sebagai Ketua dan 2 (dua) anggota               (one) Independent Commissioner as Chair and 2
independen. [ACGS D.2.20] [PUGKI 1.4.2]                    (two) independent members.

Anggota Komite Audit diangkat dan diberhentikan            Members of the Audit Committee were appointed
oleh BOC untuk masa jabatan yang tidak lebih               and dismissed by the BOC for a term of office no
lama dari masa jabatan BOC.                                longer than the term of office of the BOC.

Pada tahun ini, terjadi perubahan susunan Komite           This year, there was a change in the composition
Audit Perusahaan yang telah dilaporkan dalam               of the Company’s Audit Committee, which was
keterbukaan informasi melalui surat No.061/IR-CS/          reported in the information disclosure through
DP/IX/2025 tanggal 8 September 2025. Anggota-              letter No.061/IR-CS/DP/IX/2025 dated September
anggota Komite Audit ini akan menjabat sampai              8th, 2025. The members of this Audit Committee
dengan penutupan RUPST tahun 2029: [SEOJK 2.g.6.f]         will serve until the closing of the 2029 AGMS.


Prof. DR. Teddy Pawitra                       Ketua
                                              Chairman

Rudiantara                                    Anggota
                                              Members

Rizal E. Halim                                Anggota
                                              Members



Berikut adalah profil dari anggota Komite Audit.           The following are the profiles of the members of
                                                           Audit Committee.

 Masa Jabatan • Serving period

      [SEOJK 2.e.9.a]                        2025 - 2029

 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment

         Surat Keputusan Dewan Komisaris tanggal 8
                                    September 2025
         Decree of the BOC dated September 8th, 2025




 Menjabat Sejak • Serving Since
                                                   2025

 Pernyataan Independensi •
 Statement of Independence [SEOJK 2.g.6.g]

                                                   2025
                                                                  PROF. DR. TEDDY PAWITRA
 Profil lengkap beliau dapat dilihat pada Profil BOC              Komisaris Independen dan Ketua Komite Audit
 di Laporan Tahunan ini halaman 65-66.                            Independent Commissioner and
 His complete profile can be found on the Profile of              Chairman of the Audit Committee

 the BOC of this Annual Report page 65-66.                        [ACGS D.2.20]




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                                                                                             PT Duta Pertiwi Tbk




Masa Jabatan • Serving period

    [SEOJK 2.e.9.a]                        2025 - 2029

Dasar Hukum Pengangkatan •
Legal Basis of Appointment

       Surat Keputusan Dewan Komisaris tanggal 8
                                  September 2025
       Decree of the BOC dated September 8th, 2025




Menjabat Sejak • Serving Since
                                                   2021
Pernyataan Independensi •
Statement of Independence
                Telah diperbaharui pada tahun 2025
                                   Renewed in 2025
Kewarganegaraan • Citizenship                                    RUDIANTARA
                                 Indonesia Indonesian            Anggota Komite Audit
                                                                 Member of Audit Committee
Usia • Age
                                    66 tahun years old


                                                           Rangkap Jabatan • Concurrent Position
Riwayat Pendidikan • Education
•    Master of Business Administration, PPM (1988)
                                                           •   Ketua Indonesian Institute for Corporate
•    Harvard Business School The HBS - Accion program
                                                               Directorship (sejak 2024)
     on strategic leadership in inclusive finance (2024)
                                                               Chairman Indonesian Institute for Corporate
•    Sarjana Statistika dari Universitas Padjadjaran
                                                               Directorship (since 2024)
     (1984)
                                                           •   Komisaris Utama PT Elang Andalan Nusantara
     Bachelor of Statistics from Padjadjaran University
                                                               (sejak 2024)
     (1984)
                                                               President Commissioner PT Elang Andalan
                                                               Nusantara (since 2024)
                                                           •   Komisaris Utama PT Kita Bisa Indonesia
                                                               (sejak 2023)
Pengalaman Profesional • Professional Experience
                                                               President Commissioner PT Kita Bisa Indonesia
•    Menteri Komunikasi dan Informatika Republik               (since 2023)
     Indonesia (2014 – 2019)                               •   Anggota Komite Audit PT Bumi Serpong Damai
     Minister of Communication and Information of the          Tbk (sejak 2021)
     Republic of Indonesia (2014 – 2019)                       Member of the Audit Committee of
•    Komisaris/Direktur dan Ketua Komite Audit pada            PT Bumi Serpong Damai Tbk (since 2021)
     perusahaan telekomunikasi (seluler) di PT Indosat     •   Anggota Komite Audit PT Puradelta Lestari Tbk
     Ooredo Tbk, PT Telkomsel, PT Telekomunikasi               (sejak 2021)
     Indonesia Tbk dan PT XL Axiata Tbk (1995 – 2014)          Member of the Audit Committee of PT Puradelta
     Commissioner/Director and Chairman of Audit               Lestari Tbk (since 2021)
     Committee in cellular telecommunications              •   Komisaris Utama PT Amartha Nusantara Raya
     companies namely PT Indosat Ooredo Tbk, PT                President (sejak 2021)
     Telkomsel, PT Telekomunikasi Indonesia Tbk and            Commissioner PT Amartha Nusantara Raya
     PT XL Axiata Tbk (1995 – 2014)                            (since 2021)
•    Wakil Direktur Utama PT Semen Gresik Tbk (Persero)    •   Komisaris PT Indosat Ooredo Hutchison Tbk
     (2006 - 2008)                                             Commissioner of PT (sejak 2021)
     Deputy President Director of PT Semen Gresik Tbk          Indosat Ooredo Hutchison Tbk (since 2022)
     (Persero) (2006 - 2008)                               •   Komisaris Utama PT Rukun Raharja Tbk
•    Wakil Direktur Utama PT PLN (Persero) (2008 - 2009)       (sejak 2021)
     Deputy President Director of PT PLN (Persero)             President Commissioner of PT Rukun Raharja
     (2008 - 2009)                                             Tbk (since 2022)
•    Ketua     Majelis   Wali    Amanat      Universitas   •   Komisaris PT Vale Indonesia Tbk (sejak 2020)
     Padjadjaran (2015 – 2020)                                 Commissioner of PT Vale Indonesia Tbk
     Chairman of the Board of Trustees of Padjadjaran          (since 2020)
     University (2015 – 2020)




                                                                                    2025 ANNUAL REPORT      175
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       Corporate Governance




 Masa Jabatan • Serving period
                                            2025 - 2029
      [SEOJK 2.e.9.a]
 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment
          Surat Keputusan Dewan Komisaris tanggal 8
                                     September 2025
          Decree of the BOC dated September 8th, 2025



 Menjabat Sejak • Serving Since
                                                    2025
 Pernyataan Independensi •
 Statement of Independence
                                                    2025
 Kewarganegaraan • Citizenship
                                  Indonesia Indonesian              RIZAL E. HALIM
 Usia • Age                                                         Anggota Komite Audit
                                                                    Member of Audit Committee
                                     50 tahun years old



 Riwayat Pendidikan • Education

 •     Regular Program PPRA-LV, Lemhannas RI (2016)         Pengalaman Profesional • Professional Experience
 •     Doktoral dari Fakultas Ekonomi, Universitas
       Indonesia (2009)                                     •   Panitia Penjaringan dan Penyaringan Calon
       Doctorate from the Faculty of Economics,                 Rektor Universitas Indonesia untuk periode
       University of Indonesia (2009)                           2024 – 2029 (2024)
 •     Magister dari Fakultas Ekonomi, Universitas              Recruitment and Screening Committee for
       Indonesia (2002)                                         Candidates for Chancellor of the University of
       Master’s Degree from the Faculty of Economics,           Indonesia for the period 2024 – 2029 (2024)
       University of Indonesia (2002)                       •   Ketua (2020 - 2023) dan anggota (2017 - 2020)
 •     Sarjana dari Fakultas Ekonomi, Universitas               Badan Perl indungan Konsumen Nasional,
       Hasanuddin (1998)                                        Republik Indonesia
       Bachelor’s Degree from the Faculty of                    Chairman (2020 - 2023) and member
       Economics, Hasanuddin University (1998)                  (2017 - 2020) of the National Consumer
                                                                Protection Agency, Republic of Indonesia
                                                            •   Anggota Senat Akademik Universitas Indonesia
                                                                (2019 - 2020)
 Rangkap Jabatan • Concurrent Position                          Members of Academic Senate of the University of
 •     Anggota Komite Audit PT Bumi Serpong Damai               Indonesia (2019 - 2020)
       Tbk (sejak 2025)                                     •   Direktur Manajemen Risiko, Transformasi Budaya
       Member of the Audit Committee of PT Bumi                 dan Tata Kelola, Universitas Indonesia (sejak 2025)
       Serpong Damai Tbk (since 2025)                           Director    of   Risk     Management,       Cultural
 •     Anggota Komite Audit PT Puradelta Lestari Tbk            Transformation and Governance, University of
       (sejak 2025)                                             Indonesia (since 2025)
       Member of the Audit Committee of PT Puradelta        •   Anggota Komite Manajemen Risiko PT Perusahaan
       Lestari Tbk (since 2025)                                 Gas Negara Tbk (2014 - 2015)
 •     Kepala Badan Penjaminan Mutu dan Pengawasan              Member of the Risk Management Committee of PT
       Internal, Universitas Indonesia (sejak 2025)             Perusahaan Gas Negara Tbk (2014 - 2015)
       Head of Quality Assurance and Internal Supervision   •   Asisten Staf Khusus Presiden bidang ekonomi
       Agency, University of Indonesia (since 2025)             (2012 - 2014)
 •     Komisaris Utama dan Independen di PT Asuransi            Assistant to the Special Staff to the President for
       Umum Bumida 1967 (sejak 2024)                            Economic Affairs (2012-2014)
       President and Independent Commissioner at PT         •   Indonesia Center for Public Policy Studies (ICPPS),
       Asuransi Umum Bumida 1967 (since 2024)                   Fakultas Ekonomi dan Bisnis, Universitas Indonesia
 •     Pengajar di Fakultas Ekonomi dan Bisnis                  (2012)
       Universitas Indonesia (sejak 2003)                       Indonesia Center for Public Policy Studies (ICPPS),
       Lecturer at the Faculty of Economic and Business,        Faculty of Economics and Business, University of
       University of indonesia (since 2003)                     Indonesia (2012)




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  Pengalaman Profesional • Professional Experience                         •   Teamwork of Strategic Plan di Universitas Indonesia
                                                                               (2002 – 2003)
  •   Research Division Manager Fakultas Ekonomi dan                           Teamwork of Strategic Plan at the University of
      Bisnis, Universitas Indonesia (2009 - 2012)                              Indonesia (2002 - 2003)
      Research Division Manager at Faculty of Economics                    •   Management Development Program di PT Star
      and Business, University of Indonesia (2009 - 2012)                      Delta Utama Sakti (1999 - 2000)
  •   Lease & Commercial - Property Management                                 Management Development Program at PT Star
      (2005) dan Management System Development                                 Delta Utama Sakti (1999 - 2000)
      (2003 - 2005) di PT Duta Pertiwi Tbk                                 •   Management Consultant di PT Bina Asih Consultant
      Lease & Commercial - Property Management                                 (1998 - 1999)
      (2005) and Management System Development                                 Management Consultant at PT Bina Asih Consultant
      (2003 - 2005) at PT Duta Pertiwi Tbk                                     (1998 - 1999)




Pernyataan Independensi                                                  Statement of Independence
Komite   Audit    memiliki     komitmen    untuk                         The Audit Committee is dedicated to executing
melaksanakan tugas dan tanggung jawabnya                                 its duties and responsibilities with independence
secara   independen        dan   objektif. Untuk                         and objectivity. To ensure this, the Chair of the
memastikan hal tersebut, Ketua Komite Audit                              Audit Committee is one of the Company’s
adalah salah satu Komisaris Independen                                   Independent Commissioners, while the other two
Perusahaan [ACGS D.2.20], sementara dua anggota                          members consist of independent external parties.
lainnya adalah pihak eksternal independen.
[ACGS D.2.19]


Setiap    anggota         Komite Audit telah                             Each member of the Audit Committee reaffirms
menandatangani surat pernyataan independensi                             their independence regularly by signing an
pada saat pengangkatannya sebagai anggota                                updated statement of independence annually.
komite dan juga telah dimutakhirkan setiap
tahunnya. [SEOJK 2.g.6.g]


Uraian Pernyataan Independensi
Description of Statement of Independence
                                                                                                            TP       R        REH


Bukan merupakan orang yang bekerja pada KAP, Kantor Konsultan Hukum, Kantor Jasa Penilai                     √       √         √
Publik atau pihak lain yang memberi jasa assurance, jasa non-assurance, jasa penilai dan/atau
jasa konsultasi lain pada Perusahaan dalam waktu enam bulan terakhir.
Has not worked for a KAP, Legal Consultant Office, Public Appraiser Office or any other party
providing assurance, non-assurance, appraisal and/or other consulting services to the Company
within the last six months.

Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung jawab untuk                          √       √         √
merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Perusahaan dalam waktu
enam bulan terakhir, kecuali Komisaris Independen.
Is not a person who worked or had the authority and responsibility to plan, lead, control or supervise
the activities of the Company in the last six months, except for Independent Commissioners.


Tidak mempunyai saham langsung maupun tidak langsung dengan Perusahaan.                                      √       √         √
Does not own direct or indirect shares in the Company.

Tidak mempunyai hubungan afiliasi dengan anggota BOC, anggota Direksi lain maupun                            √       √         √
Pemegang Saham utama Perusahaan.
Has no affiliated relationship with members of the BOC, members of the Directors’ or the Company’s
principal shareholders.

Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan                            √       √         √
dengan kegiatan usaha Perusahaan.
Does not have direct or indirect business relationships with the Company business activities.



Catatan Notes:

TP: Prof. DR. Teddy Pawitra
R: Rudiantara
REH: Rizal E. Halim




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Tugas dan Tanggung Jawab                              Duties and Responsibilities
Piagam Komite Audit mengatur tugas dan                The Charter for the Audit Committee stipulates
tanggung jawab Komite Audit sebagai berikut:          the duties and responsibilities of the Audit
                                                      Committee as follows:
a. Menelaah isu-isu signifikan di dalam               a. Reviewing significant financial reporting issues
   pelaporan dan pertimbangan keuangan untuk             and judgements so as to ensure the integrity
   memastikan integritas laporan keuangan                of the financial statements of the Company
   Perusahaan dan pengumuman resmi terkait               and any formal announcements relating to
   dengan kinerja keuangan Perusahaan.                   the Company’s financial performance.
b. Menelaah dan melapor kepada BOC setahun            b. Reviewing and reporting to the BOC at least
   sekali terkait kecukupan dan efektivitas              annually the adequacy and effectiveness of
   pengendalian internal Perusahaan, termasuk            the Company’s internal controls, including
   pengendalian       keuangan,        operasional,      financial,   operational,   compliance       and
   kepatuhan dan teknologi informasi (penelaahan         information technology controls (such review
   dapat dilakukan secara internal atau dengan           can be carried out internally or with the
   bantuan pihak ketiga yang kompeten).                  assistance of any competent third parties).
c. Menelaah efektivitas fungsi audit internal         c. Reviewing the effectiveness of the Company’s
   Perusahaan. [PUGKI 5.4.1.6]                           internal audit function.
d. Menelaah ruang lingkup dan hasil audit             d. Reviewing the scope and results of the external
   eksternal, independensi dan objektivitas              audit, and the independence and objectivity
   auditor eksternal.                                    of the external auditors.
e. Membuat       rekomendasi       kepada     BOC     e. Making recommendations to the BOC on the
   terkait usul kepada pemegang saham                    proposals to the shareholders on appointment,
   untuk penunjukkan, penunjukkan ulang                  re-appointment and dismissal of the external
   dan    pemberhentian        auditor   eksternal,      auditors and approving the remuneration and
   serta menyetujui remunerasi serta periode             terms of engagement of the external auditors.
   penugasan auditor eksternal. [ACGS D.2.24]
   [PUGKI 6.2.2]




Rapat [SEOJK 2.g.6.i]                                 Meetings
Piagam Komite Audit mewajibkan pelaksanaan            The Audit Committee Charter stipulates that
rapat setidaknya 1 (satu) kali dalam 3 (tiga)         the Audit Committee Meeting is at least 1 (one)
bulan. Rapat dapat menghasilkan rekomendasi-          time in 3 (three) months. The meeting shall only
rekomendasi yang dapat dipertimbangkan oleh           generate recommendations accepted by the
BOC dan Direksi apabila lebih dari ½ (satu per        BOC and the Directors if more than half of the
dua) bagian anggota Komite hadir.                     members are present at the meeting.




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Sepanjang tahun 2025, Komite Audit telah                                         During 2025, the Audit Committee held 7 (seven)
menyelenggarakan 7 (tujuh) [ACGS D.2.23] dengan                                  meetings with the following agenda and
agenda dan kehadiran sebagai berikut:                                            attendance:


No. Tanggal
                      Agenda Pembahasan
    Date              Discussion Agenda                                                SBH*        RP*         TP”         R’        RH”        UAI       KAP


   1 13               Penelaahan Laporan Internal Audit untuk periode                    √           √          -          √           -         √             -
     Februari         Oktober sampai dengan Desember 2024
     February         Reviewing the Internal Audit’s Report for the period of
                      October through December 2024

   2 20 Maret         Penelaahan Laporan Keuangan Perusahaan yang                        √           √          -          √           -         √             √
     March            berakhir pada 31 Desember 2024 yang disampaikan
                      oleh KAP
                      Reviewing the Company’s Financial Statements for
                      the period ended on December 31st, 2024

  3 8 Mei             Penelaahan Laporan Internal Audit untuk periode                    √           √          -          √           -         √             -
    May               Januari sampai dengan Maret 2025
                      Reviewing the Internal Audit’s Report for the period of
                      January through March 2025

  4 19 Mei            Persiapan Audit Laporan Keuangan Tahunan periode                   √           √          -          √           -         √             √
    May               31 Maret 2025 oleh KAP
                      The External Auditor’s Planning of Audited Financial
                      Statement ended March 31st, 2025

  5 14                Penelaahan Laporan Internal Audit untuk periode                     -          -          √          √           √         √             -
    Agustus           April sampai dengan Juni 2025
    August            Reviewing the Internal Audit’s Report for the period of
                      April through June 2025

  6 16                Penelaahan Laporan Keuangan Perusahaan yang                         -          -          √          √           √         √             √
    Oktober           berakhir pada 30 September 2025 dan Persiapan
    October           Audit Laporan Keuangan Tahunan periode 31
                      Desember 2025 oleh KAP
                      Reviewing the Company’s Financial Statements
                      for the period ended on September 30th, 2025 and
                      the External Auditor’s Planning of Audited Financial
                      Statement ended December 31st, 2025

   7 30               Penelaahan Laporan Internal Audit untuk periode Juli                -          -          √           -          √         √             -
     Oktober          sampai dengan September 2025
     October          Reviewing the Internal Audit’s Report for the period of
                      July through September 2025


                                                                  Jumlah Rapat            4          4          3           7          3          7            3
                                                                 Total Meetings

                                                              Jumlah Kehadiran            4          4          3           6          3          7            3
                                                               Total Attendance

                                                              Tingkat Kehadiran        100%        100%       100%      85,71%       100%      100%       100%
                                                                Attendance Rate


Catatan Notes:

SBH: Prof. DR. Susiyati Bambang Hirawan                           *) Masa jabatan sampai dengan berakhirnya RUPS Tahun Buku 2024
RP: Rusli Prakarsa                                                  Term of office until the conclusion of the AGMS for the 2024 Fiscal Year
TP: Prof. DR. Teddy Pawitra
R: Rudiantara                                                     “) Masa jabatan sejak 2025 sampai dengan berakhirnya RUPS Tahun Buku 2029
                                                                    Term of office since 2025 until the conclusion of the AGMS for the 2029 Fiscal Year
RH: Rizal E. Halim
UAI: Kepala Unit Audit Internal Head of Internal Audit Unit       ‘) Masa jabatan sampai dengan berakhirnya RUPS Tahun Buku 2024 dan sejak
KAP: Akuntan Publik Public Accountant                                2025 sampai dengan berakhirnya RUPS Tahun Buku 2029
                                                                    Term of office until the conclusion of the AGMS Fiscal Year 2024 and from 2025 until the
                                                                    conclusion of the AGMS for the 2029 Fiscal Year




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Program Pengembangan Kompetensi [SEOJK 2.g.6.h]             Competencies Development Programs
Berdasarkan Piagam Komite Audit, setiap                     Based on the Charter for the Audit Committee,
anggota Komite Audit wajib meningkatkan                     each member of the Audit Committee was obliged
kompetensi melalui pendidikan dan pelatihan                 to improve competency through continuous
secara terus menerus, memahami peraturan                    education and training, understanding the latest
dan standar terbaru.                                        regulations and standards.

Pada tahun 2025, pelatihan yang telah diikuti oleh          During 2025, trainings attended by members of
anggota Komite Audit adalah sebagai berikut:                the Audit Committee are as follows:



Nama               Topik                                          Tanggal         Tempat        Pelaksana
Name               Subject                                          Date           Venue        Provider/Facilitator



Prof. DR. Teddy    Program pengembangan beliau dapat dibaca pada Program Pengembangan BOC halaman 168 Laporan
Pawitra            Tahunan.
                   His competency development program can be found on BOC Development Program page 168 in this Annual
                   Report




Laporan Ringkas Kegiatan Tahun 2025 [SEOJK 2.g.6.j]         Brief Report on Activities in 2025
Selama tahun buku 2025, Komite Audit telah                  During the fiscal year 2025, the Audit Committee
melaksanakan tugas dan tanggung jawabnya                    carried out its duties and responsibilities as
sebagaimana yang tercantum dalam Piagam                     stipulated in the Charter of the Audit Committee
Komite Audit melalui kegiatan-kegiatan, antara lain:        by doing the activities such as:
1. Bersama Direksi menelaah Laporan Keuangan                1. Review the Company’s Quarterly Financial
   Triwulan Perusahaan serta Anggaran Tahunan                   Statements and the Company’s Annual
   Perusahaan.                                                  Budget with the Directors.
2. Rapat triwulanan dengan Ketua Unit Audit                 2. Quarterly meetings with the Company’s
   Internal Perusahaan untuk membahas langkah-                  Head of Internal Audit Unit to discuss steps in
   langkah peningkatan pengawasan internal.                     improving internal monitoring.
3. Rapat dengan Auditor Eksternal yang                      3. Meeting with the External Auditor will
   memaparkan Fokus Audit Utama serta Audit                     address the Key Audit Matters. Following this
   Utama, kemudian diikuti oleh penyampaian                     discussion, the Audit Committee will present
   rekomendasi Komite Audit kepada BOC.                         its recommendations to the BOC. The objective
   Rekomendasi ini bertujuan agar Laporan                       of these recommendations is to ensure that
   Keuangan Konsolidasian Perusahaan yang                       the Company’s audited consolidated financial
   telah diaudit untuk tahun buku 2024 dapat                    statements for the 2024 fiscal year are deemed
   diterima dan disertakan dalam Laporan                        acceptable and can be incorporated into the
   Tahunan Perusahaan untuk tahun 2024.                         Company’s Annual Report for 2024.
4. Rapat dengan Auditor Eksternal untuk                     4. Meetings with External Auditor and the Directors
   membahas Laporan Keuangan Konsolidasian                      to discuss the Company’s Consolidated
   Perusahaan yang telah diaudit periode 30                     Financial Statements for the period ending
   September 2025 dan persiapan audit Laporan                   September 30th, 2025 and preparation of the
   Keuangan Tahunan untuk tahun buku yang                       audit of Annual Financial Statements for the
   berakhir pada 31 Desember 2025 sesuai                        financial year ending December 31st, 2025, in
   dengan peraturan berlaku.                                    accordance with the applicable regulations.




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Komite Nominasi dan
Remunerasi
Nomination and Remuneration Committee
[SEOJK 2.g.7] [ACGS D.2.8] [ACGS D.2.13] [PUGKI 1.4.1]




BOC telah membentuk Komite Nominasi                              BOC has instituted a Nomination and
dan Remunerasi (NRC) untuk membantu                              Remuneration Committee (NRC) to facilitate the
melaksanakan proses nominasi dan remunerasi                      professional and independent execution of the
secara profesional dan independen.                               nomination and remuneration procedures.

NRC telah memiliki Piagam Komite Nominasi dan                    NRC has already had the Nomination and
Remunerasi yang telah ditetapkan dengan surat                    Remuneration Committee Charter stipulated in
No.001/BOC/DP/X/2016 tanggal 5 Oktober 2016                      the letter No.001/BOC/DP/X/2016 dated October 5th,
tentang Piagam NRC dan telah melaksanakan                        2016, regarding the Charter of the NRC and carries
kegiatannya berdasarkan ketentuan dalam                          out their activities as stipulated in the Charter. The
Piagam tersebut. Piagam NRC tersebut telah                       NRC charter aligns with the provisions outlined in
mengakomodir perihal-perihal yang diatur                         POJK No.34/POJK.04/2014 regarding Nomination
dalam    POJK    No.34/POJK.04/2014                tentang       and Remuneration Committee of Issuers and
Komite Nominasi dan Remunerasi Emiten dan                        Public Companies.
Perusahaan Publik. [ACGS D.2.11] [ACGS D.2.16] [PUGKI 1.4.2.1]


Struktur dan Keanggotaan                                         Structure and Composition
Keanggotaan NRC paling kurang terdiri dari 3                     The NRC membership is mandated to comprise
(tiga) orang yang terdiri dari 1 (satu) orang Ketua              a minimum of three (3) individuals, namely one
yang juga merupakan Komisaris Independen                         (1) Chairman, who concurrently serves as an
Perusahaan [ACGS D.2.10] [ACGS D.2.15] dan 2 (dua)               Independent Commissioner of the Company, and
orang anggota lainnya, yang dapat berasal                        two (2) additional members. These members
dari anggota BOC dan pihak yang berasal dari                     can be selected from the BOC or from internal
dalam maupun luar Perusahaan atau pihak yang                     or external parties, including individuals holding
menduduki jabatan manajerial di bawah Direksi                    managerial roles reporting to the Directors
yang membawahi sumber daya manusia.                              overseeing human resources.

Untuk anggota yang berasal dari luar Perusahaan,                 Individuals who are external to the Company are
individu yang bersangkutan tidak merangkap                       not permitted to hold simultaneous membership
jabatan sebagai anggota komite lainnya dalam                     of other committees within the organization. The
Perusahaan. Masa jabatan anggota NRC tidak lebih                 tenure of members of the NRC should not surpass
lama dari masa jabatan BOC dengan masa kerja 5                   the term of the BOC, which is outlined as five years
(lima) tahun sebagaimana yang diatur dalam AD.                   in the AoA.

Pada tahun ini, terjadi perubahan susunan NRC                    This year, there was a change in the composition
Perusahaan berdasarkan Surat Keputusan Dewan                     of the Company’s NRC in reference to BOC’s
Komisaris tanggal 8 September 2025. Anggota-                     Decree dated September 8th, 2025. The members
anggota NRC ini akan menjabat sampai dengan                      of this Audit Committee will serve until the closing
penutupan RUPST tahun 2029: [SEOJK 2.g.6.f]                      of the 2029 AGMS.




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Berikut adalah susunan dan profil dari anggota                  The followings are composition and profiles of the
NRC.                                                            NRC members.


Prof. DR. Susiyati Bambang Hirawan       Ketua
                                         Chairwoman

Muktar Widjaja                           Anggota
                                         Member

Franciscus Xaverius R.D                  Anggota
                                         Member




Nama                 Posisi       Jabatan                                   Masa Jabatan      Profil
Name                 Position     Title                                     Terms of Office   Profiles
                                                                                              [SEOJK 2.g.7.a-e]




Prof. DR. Susiyati   Ketua        Komisaris Independen dan Ketua                              Halaman 67-68 Laporan
Bambang Hirawan      Chairwoman   Komite Nominasi dan Remunerasi                              Tahunan ini
                                  [ACGS D.2.10] [ACGS D.2.15]                                 Pages 67-68 of this
                                  Independent Commissioner and                                Annual Report
                                  Chairman of the Nomination and
                                  Remuneration Committee


Muktar Widjaja       Anggota      Komisaris Utama                                             Halaman 63 Laporan
                     Member       President Commissioner                     2025 - 2029      Tahunan ini
                                                                                              Pages 63 of this Annual
                                                                                              Report


Franciscus                        Wakil Komisaris Utama                                       Halaman 64 Laporan
Xaverius R.D                      Vice President Commissioner                                 Tahunan ini
                                                                                              Pages 64 of this Annual
                                                                                              Report




Pernyataan Independensi [SEOJK 2.g.7.g]                         Statement of Independence
Perusahaan     tidak   memiliki         pernyataan              The Company does not have a statement
independensi dari anggota NRC, selain daripada                  of independence from the members of the
yang telah ditandatangani oleh Komisaris                        NRC, beyond what has been endorsed by the
Independen. Akan tetapi, setiap anggota                         Independent Commissioner. Nevertheless, each
wajib patuh kepada Kode Etik Perusahaan dan                     member is required to adhere to the Company’s
memiliki komitmen yang kuat untuk memberikan                    Code of Conduct, demonstrating a dedicated
pandangan dan penilaian yang objektif di                        commitment to offering impartial perspectives
dalam melakukan penilaian kinerja maupun                        and     evaluations    during     performance
memberikan rekomendasi terkait nominasi dan                     assessments, as well as when making
remunerasi anggota Direksi dan BOC.                             recommendations concerning the nomination
                                                                and remuneration of the members of Directors
                                                                and BOC.




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Tugas dan Tanggung Jawab [SEOJK 2.g.7.i]             Duties and Responsibilities
Sebagaimana yang diatur dalam Piagam NRC,            As stipulated in the Charter of the NRC, the duties
tugas dan fungsi Komite di bidang Nominasi           and functions of the Committee in the Nomination
antara lain sebagai berikut:                         area are as follows:
a. Memberikan rekomendasi kepada BOC                 a. To provide recommendations to the BOC on
   mengenai kebijakan dan kriteria yang                 policies and criteria required in the nomination
   dibutuhkan dalam proses nominasi dan                 process and performance evaluation policies for
   kebijakan evaluasi kinerja bagi anggota Direksi      members of the Directors and/or other members
   dan/atau anggota BOC serta rekomendasi               of the BOC as well as recommendations for the
   komposisi jabatan anggota Direksi dan/atau           composition of the positions of members of the
   anggota BOC yang disesuaikan dengan skala            Directors and/or BOC in accordance with the
   usaha Perusahaan;                                    scale of the Company’s business;
b. Membantu BOC melakukan penilaian kinerja          b. To assist the BOC in assessing the performance
   anggota Direksi dan/atau anggota BOC                 of members of the Directors and/or BOC based
   berdasarkan tolak ukur yang telah disusun            on the benchmarks that have been prepared
   sebagai bahan evaluasi;                              as evaluation material;
c. Memberikan usulan calon yang memenuhi             c. To provide proposals for qualified candidates
   syarat sebagai anggota Direksi dan/atau              as members of the Directors and/or members
   anggota BOC kepada BOC untuk disampaikan             of the BOC to the BOC to be submitted to the
   kepada RUPS; dan                                     GMS; and
d. Memberikan rekomendasi kepada BOC                 d. To provide recommendations to the BOC
   mengenai       program        pengembangan           regarding       competency          development
   kemampuan anggota Direksi dan/atau                   programs for members of the Directors and/
   anggota BOC.                                         or members of the BOC.

Di bidang Remunerasi, tugas dan fungsi Komite        In the field of Remuneration, the duties and
sebagaimana yang diatur dalam Piagam NRC,            functions of the Committee as stipulated in the
antara lain sebagai berikut: [PUGKI 1.3.5]           Charter of the NRC, include the following:
a. Memberikan rekomendasi kepada BOC                 a. To give recommendations to the BOC
   mengenai struktur, kebijakan dan besaran             regarding the structure, policy and amount of
   atas remunerasi;                                     remuneration;
b. Membantu BOC melakukan penilaian kinerja          b. To assist the BOC in assessing performance
   dengan kesesuaian remunerasi yang diterima           with the suitability of remuneration received
   masing-masing anggota Direksi dan/atau               by members of the Directors and/or members
   anggota BOC;                                         of the BOC;
c. Membantu BOC dalam menyusun struktur              c. To assist the BOC in preparing the remuneration
   remunerasi dan memberikan rekomendasi                structure and provide recommendations
   mengenai kebijakan atas remunerasi bagi              regarding the policy on remuneration for
   anggota Direksi dan/atau anggota BOC untuk           members of the Directors and/or members of
   disampaikan kepada RUPS; dan                         the BOC to be submitted to the GMS; and
d. Membantu BOC dalam menyusun besaran               d. To assist the BOC on setting up the amount
   atas Remunerasi bagi anggota Direksi dan/            of Remuneration for members of the Directors
   atau anggota BOC.                                    and/or members of the BOC.




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Rapat [SEOJK 2.g.7.k]                                                 Meetings
NRC wajib menyelenggarakan rapat setidaknya 1                         NRC is obliged to hold meetings at least once
(satu) kali dalam 4 (empat) bulan. Rapat dapat                        every 4 (four) months. Meetings can result in
menghasilkan rekomendasi-rekomendasi yang                             recommendations that can be considered if more
dapat dipertimbangkan apabila lebih dari ½ (satu                      than ½ (one half) of the committee members are
per dua) bagian anggota Komite hadir.                                 present.

Sepanjang tahun 2025, NRC menyelenggarakan                            Throughout 2025, the NRC has held 2 (two)
3 (tiga) rapat dengan agenda pembahasan                               meetings with the following discussion agendas
dan tingkat kehadiran sebagai berikut: [ACGS D.2.12]                  and attendance record:
[ACGS D.2.17]




No. Tanggal
                  Agenda Pembahasan
    Date          Discussion Agenda                                                    TP      SBH      MW       FXRD


  1 22 Mei        Persiapan pelaksanaan self-assessment kinerja anggota BOC dan         √       -        √        √
    May           Direksi tahun buku 2024
                  Preparation of self-assessment on the 2024 fiscal year performance
                  of the members o the BOC and the Directors


  2 10 Juni       Pembahasan hasil self-assessment kinerja anggota BOC dan              √       -        √        √
    June          Direksi tahun 2024
                  Discussion of self-assessment on the 2024 fiscal year performance
                  of the members of the BOC and the Directors


  3 20 Oktober    Peninjauan kembali fungsi dan tugas NRC                               -       √        √        √
    October       Reviewing the functions and duties of the NRC



                                                                      Jumlah Rapat      2       1        3         3
                                                                     Total Meetings

                                                                  Jumlah Kehadiran      2       1        3         3
                                                                   Total Attendance

                                                                  Tingkat Kehadiran    100%    100%     100%     100%
                                                                    Attendance Rate


Catatan Notes

TP: Prof. DR. Teddy Pawitra
SBH: Prof. DR.Susiyati Bambang Hirawan
MW: Muktar Widjaja
FXRD: Franciscus Xaverius R.D




Program Pengembangan Kompetensi [SEOJK 2.g.7.h]                       Competencies Development Programs
Berdasarkan Piagam NRC, setiap anggota                                Based on the NRC Charter, every NRC member
NRC wajib meningkatkan kompetensi melalui                             was mandated to enhance their competency
pendidikan dan pelatihan secara terus menerus,                        through ongoing education and training, ensuring
memahami peraturan dan standar terbaru.                               a thorough understanding of the most recent
                                                                      regulations and standards.

Rincian program pengembangan yang diikuti                             Please refer to the Board of Commissioners section
sepanjang tahun 2025 dapat dilihat pada Bagian                        in the Corporate Governance Chapter on page
Dewan Komisaris pada Bab Tata Kelola Perusahaan                       168 of this Annual Report regarding the details of
halaman 168 dari Laporan Tahunan ini.                                 the development programs attended in 2025.




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Laporan Ringkas Kegiatan Tahun 2025 [SEOJK 2.g.7.l]   Brief Report on Activities in 2025
Sepanjang tahun 2025, NRC telah melaksanakan          Throughout 2025, the NRC has conducted the
aktivitas berikut:                                    following activities:
1. Mempersiapkan dan mendiskusikan hasil self-        1. Prepared and discussed the result on the self-
   assessment dan evaluasi kinerja anggota BOC            assessment performance of the members of
   dan Direksi Tahun 2024; dan                            the BOC and Directors for year of 2024; and
2. Meninjau kembali fungsi dan tugas NRC.             2. Reviewed the NRC function and duties.




Komite Lain dan Dewan
Pengawas Syariah
Other Committee and Sharia Supervisory Board
[SEOJK 2.g.5] [SEOJK 2.g.8]




Sampai dengan 31 Desember 2025, Perusahaan            Until December 31st, 2025, the Company is not
tidak diwajibkan untuk membentuk komite lain selain   required to establish any committees aside from
Komite Audit dan NRC dan tidak memiliki kewajiban     the Audit Committee and NRC and there is no
untuk membentuk Dewan Pengawas Syariah.               mandate to create a Sharia Supervisory Board.




Sekretaris Perusahaan
Corporate Secretary
[SEOJK 2.g.9]




Sekretaris Perusahaan memiliki tugas utama            The Corporate Secretary is primarily responsible
untuk memastikan kelancaran komunikasi                for facilitating effective communication between
antara Direksi dengan BOC, antar berbagai unit        the Directors and the BOC, among work units
kerja dalam Perusahaan serta dengan para              within the Company and its stakeholders
pemangku kepentingan termasuk pemegang                including the shareholders, as well as enhancing
saham dan meningkatkan kualitas governansi            the quality of good corporate governance.
Perusahaan yang baik. [PUGKI 3.1.3]

Pengangkatan dan Pemberhentian                        Appointment and Dismissal
Sekretaris    Perusahaan      diangkat    dan         The Corporate Secretary was appointed and
diberhentikan oleh Direksi, serta bertanggung         dismissed by the Directors and reports directly to
jawab kepada Direktur Utama.                          the President Director.




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Berikut adalah profil Sekretaris Perusahaan.                  Below is a details profile of the Corporate Secretary.

 Dasar Hukum Pengangkatan •
 Legal Basis of Appointment [SEOJK 2.g.9.c(1)]
   [SEOJK 2.e.9.a]
 Surat Keputusan Direksi No.001/Kep.Dir/DP/VI/2015
  tanggal 3 Juni 2015 dan telah dilaporkan kepada
        BEI dan OJK melalui surat No.041/IR-CS/DP/
                       VI/2015 tertanggal 5 Juni 2015
    Directors’ Resolution No.001/Kep.Dir/BSD/V/2023
  dated June 3rd, 2015 and has been reported to BEI
    and OJK through letter No.041/IR-CS/DP/VI/2015
                                  dated June 5th, 2015



 Menjabat Sejak • Serving Since
                                           3 Juni 2015 June
 Kewarganegaraan • Citizenship
                                       Indonesia Indonesian
 Domisili • Domicile [SEOJK 2.g.9.b]
                                                   Jakarta               SUSAN
 Usia • Age                                                              Sekretaris Perusahaan
                                                                         Corporate Secretary
                                         48 tahun years old



 Riwayat Pendidikan • Education [SEOJK 2.g.9.d]
 Sarjana Hukum, Universitas Atma Jaya Yogyakarta               Pengalaman Profesional • Professional Experience
 (2000)                                                        [SEOJK 2.g.9.c(2)]
 Bachelor’s degree in Laws, Atma Jaya Yogyakarta
 University (2000)                                             •   Head of Corporate Secretary PT Duta Pertiwi
                                                                   Tbk (sejak since 2011)
                                                               •   Senior Manager Corporate Secretary &
                                                                   Corporate Legal     PT AJ Adisarana WanaArtha
 Rangkap Jabatan • Concurrent Position                             (2005 – 2011)
                                                               •   Senior Supervisor Corporate Legal PT Wirakarya
 Tidak Ada None                                                    Sakti (Sinar Mas Forestry Division) (2003 – 2005)




Tugas dan Tanggung Jawab [SEOJK 2.g.9.f] [PUGKI 3.1.3]        Duties and Responsibilities
Sesuai dengan POJK No.35/POJK.04/2014 dan                     In compliance with POJK No.35/POJK.04/2014 and
Perubahan Peraturan BEI No.1A, tugas dan                      amendments to BEI Regulation No.1A, the duties
tanggung jawab Sekretaris Perusahaan adalah:                  and responsibilities of the Corporate Secretary
                                                              are outlined as follows:
1. Mengikuti perkembangan informasi terkait                   1. To remain updated on information related to
   Pasar Modal khususnya regulasi yang berlaku;                   the Capital Market, particularly the relevant
                                                                  regulations;
2. Memastikan Direksi dan BOC mematuhi                        2. To ensure that the Directors and the BOC
   ketentuan peraturan perundang-undangan                         always comply with the regulations of the
   di bidang Pasar Modal; [ACGS D.3.7]                            Capital Market;
3. Membantu      Direksi   dan       BOC dalam                3. To support the Directors and BOC in
   pelaksanaan GCG yang baik, meliputi:                           implementing GCG guidelines, covering:
   a. Keterbukaan informasi kepada masyarakat,                    a. The disclosure of information to the public,
      termasuk penyampaian informasi korporat                        including the publication of corporate
      dalam situs web Perusahaan;                                    information on the Company’s website;
   b. Penyampaian laporan kepada OJK dan BEI                      b. Timely submission of report to the OJK and
      secara tepat waktu;                                            BEI;
   c. Penyelenggaraan dan dokumentasi RUPS;                       c. The organization and documentation of
                                                                     the GMS;


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   d. Koordinasi dan dokumentasi rapat Direksi                          d. The coordination and documentation of
      dan/atau BOC; dan                                                    the Directors and/or BOC meetings; and
   e. Pelaksanaan program orientasi terhadap                            e. Implementation of an orientation program
      Perusahaan bagi Direksi dan/atau BOC.                                for the Company’s Directors and/or the BOC.
4. Sebagai penghubung antara Perusahaan                              4. As a liaison between the Company and
   dengan pemegang saham, pemerintah/                                   shareholders,     the    government/related
   instansi terkait, masyarakat dan pemangku                            institutions,   communities      and     other
   kepentingan lainnya.                                                 stakeholders.

Program Pengembangan Kompetensi [SEOJK 2.g.9.e]                      Competencies Development Program
[ACGS D.3.8]
Agar tetap menerima informasi tentang                                To remain abreast of the latest developments
perkembangan terkini di pasar modal, sepanjang                       in the capital market, the Corporate Secretary
tahun 2025, Sekretaris Perusahaan telah                              has participated in the following training and
mengikuti program-program pelatihan dan                              development programs throughout 2025:
pengembangan berikut:


Topik                                                                                     Tanggal      Tempat     Pelaksana
Subject                                                                                     Date        Venue      Provider/
                                                                                                                  Facilitator


Pendalaman POJK No.29 Tahun 2016 tentang Laporan Tahunan Emiten atau
Perusahaan Publik
Indepth of POJK No.29 of 2016 concerning Annual Report of the Issuers or Public
Company
                                                                                         22 Januari
                                                                                                                  ICSA - OJK
                                                                                          January
Pendalaman POJK No.51 Tahun 2017 tentang Penerapan Berkelanjutan bagi Lembaga
Jasa Keuangan, Emiten, dan Perusahaan Publik
Indepth of POJK No.51 of 2017 concerning the Implementation of Sustainability for
Financial Service Company Issuer and Public Company

Pendalaman POJK No.14 Tahun 2022 tentang Penyampaian Laporan Keuangan                    18 Februari              ICSA - OJK
Berkala Emiten atau Perusahaan Publik                                                     February
Indepth of POJK No.14 of 2022 concerning the Submission of Periodical Financial
Statements of the Issuer or Public Company

Pendalaman POJK No.9 Tahun 2023 tentang Penggunaan Jasa Akuntan Publik dan
Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan
Indepth of POJK No.9 of 2023 concerning the Use of Public Accountant and Public
Accounting Firm Services in Financial Service Activities
                                                                                          19 Maret
                                                                                                                  ICSA - OJK
                                                                                           March
Pendalaman SEOJK No.18 Tahun 2023 tentang Tata Cara Penggunaan Jasa Akuntan
Publik dan Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan
Indepth of SEOJK No.18 of 2023 concerning the Guidelines to Use the Public Accountant
and Public Accounting Firm Services in Financial Service Activities

Pendalaman Peraturan No 1-E Tentang: Kewajiban Penyampaian Informasi                      22 April     Webinar    ICSA - OJK
Indepth of Regulation No.1-E on: The Liabilities to Submit Information

Kesiapan Perusahaan dalam Menghadapi Volatilitas Pasar Global: Perspektif Investor         20 Mei                 ICSA - OJK
Relations dan Corporate Secretary                                                           May
The Readiness of the Company in Dealing with Global Market Volatility: Perspective of
the Investor Relations and the Corporate Secretary

Digital Governance: Automating Compliance and Disclosure with AI Tools                     19 Juni                ICSA - OJK
                                                                                            June

Pendalaman POJK No.4 Tahun 2024 tentang Laporan Kepemilikan atau Setiap                    29 Juli                ICSA - OJK
Perubahan Kepemilikan Saham Perusahaan Terbuka dan Laporan Aktivitas                        July
Menjaminkan Saham Perusahaan Terbuka
Indepth of POJK No.4 of 2024 concerning the Report on the Ownership or Changes
in the Share Ownership of the Public Company and Activity Reports on Share Pledge

Finance for Non Finance: Memahami Angka untuk Komunikasi yang Efektif                    5 Agustus                ICSA - RSM
Finance for Non Finance: Understanding Numbers for an Effective Communication             August


Pendalaman POJK No.14 Tahun 2025 tentang Pelaksanaan Rapat Umum Pemegang                30 September              ICSA - OJK
Saham, Rapat Umum Pemegang Obligasi, dan Rapat Umum Pemegang Sukuk secara
Elektronik
Indepth of POJK No.14 of 2025 concerning the Conduct of the General Meeting of
Shareholders, the General Meeting of Bondholders and the General Meeting of
Sukukholders Electronically




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 Topik                                                                                    Tanggal      Tempat    Pelaksana
 Subject                                                                                    Date        Venue     Provider/
                                                                                                                 Facilitator

 Integrasi Cyber Security dalam Good Corporate Governance (GCG): Peran Penting            29 Oktober             ICSA - RSM
 Corporate Secretary                                                                       October
 Integration of Cyber Security in Good Corporate Governance (GCG): Substantial
 Roles of the Corporate Secretary

 Media Handling 4.0: Peran Corporate Secretary dalam Era AI dan Reputasi Digital         20 November                ICSA
 Media Handling 4.0: Roles of the Corporate Secretary in AI Era and Digital Reputation                 Webinar


 Pendalaman POJK No.42 Tahun 2020 tentang Transaksi Afiliasi dan Transaksi Benturan      2 Desember              ICSA - OJK
 Kepentingan                                                                              December
 Indepth of POJK No.42 of 2020 concerning Affiliated Transactions and Transactions
 with Conflict of Interests




Laporan Ringkas Kegiatan Tahun 2025 [SEOJK 2.g.9.f]                    Brief Report on Activities in 2025
[PUGKI 8.1.1]
Selama tahun 2025, Sekretaris Perusahaan telah                         Throughout 2025, the Corporate Secretary has
melaksanakan tugas-tugas sebagai berikut:                              fulfilled the following responsibilities:
1. Melakukan pemberitahuan dan pemanggilan                             1. Notifying and convening the GMS, along with
   RUPS, serta melaporkan risalah RUPS melalui                             promptly disclosing the minutes of the GMS on
   situs web Perusahaan [ACGS C.7.2], BEI dan KSEI                         the Company, BEI and KSEI websites;
   tepat waktu;
2. Menyampaikan            3    laporan   keuangan                     2. Submitted three quarterly financial statements
   triwulanan dalam waktu 1 bulan sejak                                   within 1 months following the conclusion of the
   berakhirnya periode pelaporan; [ACGS C.7.1]                            reporting period;
3. Menyampaikan 1 laporan keuangan tahunan                             3. Submitted one annual financial statement
   dalam waktu 120 hari sejak berakhirnya tahun                           in 120 days following the conclusion of the
   buku; [ACGS C.8.1]                                                     reporting period;
4. Menyampaikan           Laporan    Tahunan    dan                    4. Submitted Annual Report and Sustainability
   Laporan Keberlanjutan dalam waktu 120 hari                             Report in 120 days following the conclusion of
   sejak berakhirnya tahun buku; [ACGS C.8.2]                             the reporting period;
5. Menyampaikan               informasi       terkait                  5. Submitted information related to the progress
   perkembangan Perusahaan dan Entitas Anak                               of the Company and its Subsidiaries in one
   melalui Siaran Pers sebanyak 1 kali;                                   Press Releases;
6. Paparan Publik dilaksanakan bersamaan                               6. The Public Expose was conducted parallel to
   dengan penyampaian Laporan Keuangan                                    the submission of the Financial Statement as
   per 31 Desember 2024 pada tanggal 25 Maret                             of December 31st, 2024 on March 25th, 2025.
   2025; [ACGS A.4.1]
7. Berinteraksi dengan media dalam 1 (satu)                            7. Interacted with the media on 1 (one) activity;
   kegiatan; [ACGS C.7.4]
8. Menyampaikan keterbukaan informasi.                                 8. Submitted information disclosure.


Uraian Singkat Pelaksanaan Hubungan Investor                           Brief Description of the Conduct of Investor
                                                                       Relations
Salah satu tugas Hubungan Investor adalah                              One of the primary responsibilities of Investor
mengembangkan hubungan yang baik dengan                                Relations is to cultivate strong relationships
para pihak terkait investasi saham, terutama                           with stakeholders related to stock investments,
hubungan dengan para pemegang saham,                                   particularly relations with the shareholders,
analisis efek, manajer investasi, broker institusi                     securities analysts, investment managers, as well
ataupun ritel. [ACGS A.4.1] [ACGS C.7.3]                               as institutional and retail brokers.

Kegiatan-kegiatan terkait dengan Hubungan                              Activities pertaining to Investor Relations in
Investor pada tahun 2025 antara lain Analyst                           2025 include Analyst Meeting, activities with the
Meeting,    kegiatan    dengan    Komunitas                            Stock Community and disclosure of information
Saham, serta penyampaian informasi terkait                             related to the update of the Company and its
perkembangan Perusahaan dan Entitas Anak.                              Subsidiaries.


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Unit Audit Internal
Internal Audit Unit
[SEOJK 2.g.10] [ACGS D.3.14]




Visi Unit Audit Internal adalah untuk menyediakan            The vision of the Internal Audit Unit is to provide
jasa yang memberi nilai tambah kepada                        value-added services to the Company by
Perusahaan dalam meningkatkan dan melindungi                 enhancing and protecting organizational value
nilai Perusahaan melalui pendekatan yang                     through a systematic, risk-based approach
sistematis dan berbasis risiko untuk mengevaluasi            to evaluating and improving the effectiveness
serta meningkatkan efektivitas tata kelola,                  of governance, risk management and internal
manajemen risiko dan pengendalian internal. Unit             control. The Internal Audit Unit operates in
Audit Internal telah memiliki Piagam Unit Audit              accordance with its Internal Audit Charter, which
Internal [SEOJK 2.g.10.g] yang telah diperbaharui pada       was updated and approved by the BOC on
tanggal 14 Agustus 2025 dan telah mendapatkan                August 14th, 2025.
persetujuan BOC. Unit Audit Internal dalam
melaksanakan tugas dan tanggung jawabnya
berpedoman pada Piagam tersebut.

Unit Audit Internal bertanggungjawab langsung                The Internal Audit Unit is directly responsible to
kepada Direktur Utama dan secara fungsional                  the President Director and functionally to the BOC
kepada BOC melalui Komite Audit. [SEOJK 2.g.10.e]            through the Audit Committee.
[PUGKI 5.4.1]


Unit Audit Internal dipimpin oleh Kepala Unit                The Internal Audit Unit is led by the Head of
Audit Internal, yang dipilih dan diangkat serta              Internal Audit Unit, who is selected, appointed,
diberhentikan oleh Direktur Utama setelah                    and dismissed by the President Director with
mendapatkan persetujuan dari BOC. Per 31                     the approval of the BOC. As of December 31st,
Desember 2025, Unit Audit Internal memiliki 22               2025, the Internal Audit Unit has 22 (twenty-two)
(dua puluh dua) auditor internal.                            internal auditors.



  Dasar Hukum Pengangkatan •
  Legal Basis of Appointment [SEOJK 2.g.10.b(1)]
     [SEOJK 2.e.9.a]

   Surat Keputusan Direksi Perusahaan tertanggal 12
                                      Februari 2020
        Decree of the Company’s Directors dated 12th
                                     February 2020




  Menjabat Sejak • Serving Since

                                    Januari 2012 January

  Kewarganegaraan • Citizenship

                                   Indonesia Indonesian

  Domisili • Domicile

                                                   Jakarta          HAMINA ALI
                                                                    Kepala Unit Audit Internal
  Usia • Age                                                        Head of Internal Audit Unit

                                       57 tahun years old           [ACGS E.3.15]




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                                                        Pengalaman Profesional • Professional Experience
 Riwayat Pendidikan • Education
                                                        [SEOJK 2.g.10.b(2)]

                                                        •   Commercial CFO (2011) & Business Control Director
 •    Sarjana Ekonomi Jurusan Akuntansi, Universitas
                                                            (2009 – 2011) PT Bumi Serpong Damai Tbk
      Tarumanagara
                                                        •   Deputy Director Internal Audit AFP China Ltd.,
      Bachelor of Economics Majoring in Accounting,
                                                            Shanghai, China (2000 – 2009)
      Tarumanagara University
                                                        •   Andersen Worldwide Manager di Kantor Akuntan
 •    Magister Manajemen pada program studi
                                                            Publik Prasetio, Utomo & Co. (Member of Arthur
      Manajemen, program Executive Management,
                                                            Andersen) (1992 – 1999)
      Universitas Bina Nusantara
                                                            Andersen Worldwide Manager at Prasetio Utomo
      Master of Management in Management Study
                                                            & Co. Public Accounting Office (Member of Arthur
      Program, Executive Management program, Binus
                                                            Andersen) (1992 - 1999)
      University
                                                        Rangkap Jabatan • Concurrent Position

                                                        •   Ketua Unit Audit Internal di PT Duta Pertiwi Tbk
                                                            (sejak 2012)
 Sertifikasi • Certification [SEOJK 2.g.10.c]               Head of Internal Audit Unit at PT Duta Pertiwi Tbk
                                                            (since 2012)
                                                        •   Ketua Unit Audit Internal di Sinarmas Land Ltd.,
 Certified Internal Auditor (CIA), The Institute of         Singapura (sejak 2010)
 Internal Auditor (IIA) (2022)                              Chief Internal Auditor at Sinarmas Land Ltd.,
                                                            Singapore (since 2010)




Uraian Tugas dan Tanggung Jawab [SEOJK 2.g.10.f]       Description of Duties and Responsibilities
Sesuai piagamnya, Unit Audit Internal memiliki         According to its charter, The Internal Audit Unit
tugas dan tanggung jawab sebagai berikut:              has the following duties and responsibilities:
1. Menguji dan mengevaluasi pelaksanaan                1. Assess and evaluate the implementation of
   pengendalian internal dan sistem manajemen             internal control and risk management systems
   risiko sesuai dengan kebijakan Perusahaan.             in accordance with the Company’s policies.
2. Melakukan pemeriksaan dan penilaian atas            2. Inspect and assess the efficiency and
   efisiensi dan efektivitas di bidang keuangan,          effectiveness     of     finance, accounting,
   akuntansi,     operasional,    sumber      daya        operations, human resources, marketing,
   manusia, pemasaran, teknologi informasi                information technology, and other activities.
   dan kegiatan lainnya.
3. Menilai kepatuhan Perusahaan terhadap               3. Evaluate the Company’s compliance with
   hukum dan peraturan yang berlaku.                      applicable laws and regulations.
4. Memberikan saran perbaikan yang objektif dan        4. Provide     objective   and    implementable
   dapat diimplementasikan tentang kegiatan               recommendations relating to the assessed
   yang diperiksa pada semua tingkat Manajemen.           activities at all management levels.
5. Bertanggungjawab untuk menyampaikan                 5. Accountable for presenting reports on
   laporan atas aktivitas dan temuan audit                audit activities and findings to the relevant
   kepada Manajemen terkait dan Dewan                     management and the BOC through the Audit
   Komisaris     melalui    Komite     Audit   dan        Committee, and for advocating objective and
   memberikan saran perbaikan yang obyektif               implementable recommendations on audit
   dan dapat diimplementasikan atas hasil                 findings and activities at all Management
   temuan dan kegiatan audit pada semua                   levels.
   tingkat Manajemen.
6. Memantau,       melakukan       analisis    dan     6. Monitor, analyze and report on the
   melaporkan      pelaksanaan      tindak   lanjut       implementation      of   the    recommended
   perbaikan yang telah disarankan.                       improvement points.
7. Menjalankan penugasan yang bersifat ad-hoc          7. Carry out ad-hoc tasks assigned by the
   yang diberikan oleh Manajemen atau Komite              Management or the Audit Committee,
   Audit, sepanjang tidak terdapat benturan               provided there is no conflict of interest in the
   kepentingan atas penugasan tersebut. Untuk             tasks. For this reason, the Internal Audit Unit
   itu, Unit Audit Internal akan menyiapkan               will prepare an Engagement Memo which
   Memo Penugasan (Engagement Memo) yang                  describes the objective, scope, and duration
   menjelaskan tujuan dan lingkup penugasan               of the tasks.
   serta lamanya penugasan tersebut.


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8. Memberikan peringatan dini (Early Warning)                           8. Provide Early Warning to the Directors and
   kepada Direksi dan Komite Audit mengenai                                the Audit Committee on issues found during
   masalah yang ditemukan dalam pekerjaan                                  audit assignments that may potentially
   audit yang secara signifikan berpotensi                                 have a significant impact to the Company’s
   mempengaruhi tujuan perusahaan.                                         objectives.
9. Melakukan   investigasi  khusus    apabila                           9. Carry out special investigation if needed.
   diperlukan.


Program Pengembangan Kompetensi                                         Competency Development Program
[SEOJK 2.g.10.d]
Sepanjang tahun 2025, Pendidikan Profesional                            Throughout 2025, the Head of Internal Audit Unit
Berkelanjutan (CPE) yang diikuti oleh Kepala                            attended the Continuing Professional Education
Unit Audit Internal adalah sebanyak 21 program                          (CPE) with total 21 programs with 44 CPE hours.
dengan 44 jam CPE.


Topik                                                                                   Tanggal           Tempat    Pelaksana
Subject                                                                                   Date             Venue     Provider/
                                                                                                                    Facilitator


Maximizing internal audit quality through the effective implementation of the IIA       15 Januari                 Wolters Kluwer
Standards                                                                                January

Engaging Stakeholders - Elevating the Impact of Internal Audit                          23 Januari                  IIA Singapore
                                                                                         January

Townhall Meeting - Risk in Focus 2025: Indonesia                                        24 Januari                  IIA Indonesia
                                                                                         January

Collaborative Auditing: Engaging Internal Stakeholders for Better Outcomes              28 Januari                   AuditBoard
                                                                                         January

Internal audit strategy development: A workshop for success                             30 Januari                 Wolters Kluwer
                                                                                         January

AI for IA: A New Paradigm for Internal Audit                                            4 Februari                   AuditBoard
                                                                                        February

Sustainable AI Governance and Role of Internal Audit                                    6 Februari                  IIA Singapore
                                                                                        February

Business fraud prevention: Five proven actions for auditors & managers                  20 Februari                Wolters Kluwer
                                                                                         February

Blessing or Bane: Third-Party Vendors                                                    13 Maret                   IIA Singapore
                                                                                                          Online
                                                                                          March

Dukungan Dewan dan Manajemen Senior dalam Tata Kelola Audit Internal (GIAS               13 Maret                   IIA Indonesia
Domain 3, Standard 6.3)                                                                   March
The Support of the Board and Senior Management in the Internal Audit Governance

Membangun Interaksi Efektif dengan Dewan (GIAS Domain 3, Standard 8.1)                   20 Maret                   IIA Indonesia
Building Effective Interaction with the Board                                             March

Future ready internal audit function - transition to Global Internal Audit Standards,     10 April                  IIA Singapore
Role of Automation and AI

Navigating Ethics and Professionalism: Insights into GIAS Domain 2                        15 Mei                    IIA Singapore
                                                                                           May

GRC Career Hack                                                                           28 Mei                    IIA Indonesia
                                                                                           May

Detecting Bid-Rigging Through Internal Audit Practices                                    20 Juni                   IIA Singapore
                                                                                           June

Enhancing Anti-Money Laundering and Countering the Financing of Terrorism (AML/           10 Juli                   IIA Singapore
CFT) Audit Effectiveness: Insights from the Anti-Money Laundering Audit Peer Group         July
(AAPG) Best Practice Paper




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Topik                                                                                           Tanggal       Tempat     Pelaksana
Subject                                                                                           Date         Venue      Provider/
                                                                                                                         Facilitator


Excellence in Internal Audit : Insights from the World’s Top CIA Scorer                          28 Juli                IIA Indonesia
                                                                                                  July

EQA Preparation: Conformance and Performance = Quality                                          5 Agustus               Wolters Kluwer
                                                                                                 August       Online


Bridging the Lines: How Internal Audit can Evolve Beyond Assurance to a Strategic              14 Agustus               IIA Singapore
Partner                                                                                          August

IIA Indonesia National Conference: Audit for Tomorrow: Strategic, Future-Ready,               27-28 Agustus   Medan     IIA Indonesia
Sustainable                                                                                      August

PAF – Auditing Culture & Ethics                                                                1 Desember               IIA Indonesia
                                                                                                December

Internal Controls: What Works, What Doesn’t & How to Plug the Holes                            4 Desember               Wolters Kluwer
                                                                                                December

Transform your internal audit department with new ways of working                              4 Desember               Wolters Kluwer
                                                                                                December      Online


Internal Quality Assessment: How Effective is Your Internal Audit Function?                    9 Desember               Wolters Kluwer
                                                                                                December

A Practical Approach to Auditing Culture                                                       11 Desember              IIA Singapore
                                                                                                December



Berikut ini adalah Pendidikan Profesional                                 The following are the Continuing Professional
Berkelanjutan (CPE) yang telah diikuti anggota                            Education (CPE) attended by members of the
Unit Audit Internal dengan total jumlah program                           Internal Audit Unit in 2025 with total 268 programs
pada tahun 2025 sebanyak 268 program dengan                               with 36 CPE hours per person on average.
rata-rata 36 jam CPE per orang.


Nama                 Topik                                                                      Tanggal       Tempat     Pelaksana
Name                 Subject                                                                      Date         Venue      Provider/
                                                                                                                         Facilitator


Lulie Rulliansyah    Maximizing internal audit quality through the effective                   15 Januari     Online    IIA Indonesia
                     implementation of the IIA Standards                                        January

                     Implementing an integrated approach to assurance provision                 12 Maret      Online    Wolters Kluwer
                                                                                                 March

                     Dukungan Dewan dan Manajemen Senior dalam Tata Kelola                      13 Maret      Online    IIA Indonesia
                     Audit Internal                                                              March
                     The Support of the Board and Senior Management in the Internal
                     Audit Governance

                     Internal Quality Assessment: How Effective is Your Internal Audit          25 Maret      Medan     IIA Indonesia
                     Function?                                                                   March

                     Effective Leadership                                                       27-28 Mei     Offline   IIA Indonesia
                                                                                                  May

                     IIA General Membership Meeting (GMM) 2025 - Sharing Session:                28 Juli      Online    Wolters Kluwer
                     Excellence in Internal Audit: Insights from the World’s Top CIA Scorer       July

                     2025 IIA National Conference                                             27-28 Agustus   Offline   Wolters Kluwer
                                                                                                 August

                     2025 TeamMate User Meeting Indonesia                                     12 November     Offline   Wolters Kluwer


                     Auditing Culture & Ethics - A Practical Approach to                       1 Desember     Online    IIA Singapore
                     Understanding Behaviour and Integrity                                        August




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Nama               Topik                                                                      Tanggal         Tempat     Pelaksana
Name               Subject                                                                      Date           Venue      Provider/
                                                                                                                         Facilitator


Sandy Prawira      Risk in Focus 2025 : Indonesia                                            24 Januari                  IIA Indonesia
Setionago                                                                                     January

                   Guardians and The Gardener of Governance                                  25 Februari                Wolters Kluwer
                                                                                              February

                   Dukungan Dewan dan Manajemen Senior dalam Tata Kelola                      13 Maret                   IIA Indonesia
                   Audit Internal                                                              March
                   The Support of the Board and Senior Management in the Internal
                   Audit Governance

                   Internal Quality Assessment: How Effective is Your Internal Audit          25 Maret                  Wolters Kluwer
                   Function?                                                                   March

                   Business fraud prevention Five proven actions for auditors &                 6 Mei                   Wolters Kluwer
                   managers                                                                     May

                   IIA General Membership Meeting (GMM) 2025 - Sharing Session:                24 Juni        Online    Wolters Kluwer
                   Excellence in Internal Audit: Insights from the World’s Top CIA Scorer       June


                   Navigating Assurance Is the 2nd Line Assurance More Valuable                28 July                   IIA Indonesia
                   than the 3rd                                                                 June

                   Excellence in Internal Audit : Insights from the World’s Top CIA          27 Agustus                 Wolters Kluwer
                   Scorer                                                                      August

                   How internal audit drives cybersecurity and operational resilience       3 September                 Wolters Kluwer


                   Fraud Detection Blueprint Five Essential Actions for Audit               16 September                Wolters Kluwer
                   Professionals

                   Auditing Culture & Ethics - A Practical Approach to                       1 December                  IIA Indonesia
                   Understanding Behaviour and Integrity                                      December

Ivana              Advanced Risk-Based Auditing                                               4-5 Juni        Offline    IIA Indonesia
                                                                                               June

Marcell Reynaldi   2025 TeamMate User Meeting Indonesia                                     12 November       Offline   Wolters Kluwer


Rudi               Advanced Risk-based Auditing                                              10-11 Maret      Jakarta    IIA Indonesia
                                                                                               March

Wendy              Continuous Audit Continuous Monitoring                                    28 & 29 Juli     Offline        YPIA
                                                                                                July

Bintang M. P.      Fundamentals of Cybersecurity Auditing                                      2-3 Juli       Offline    IIA Indonesia
Gultom                                                                                          July

Albert Bimo        Fraud Risk Management and Anti Fraud Programs                              14-15 April     Online         YPIA
Aryanto

Firdha Fathia      Performance Auditing: Ensuring Effective and Efficient Business           23-24 Juni       Offline        YPIA
                   Processes                                                                   June

Hans Jakal         The Art of the Possible: Agile & Lean Ways of Working in Internal           20 Mei         Online    Wolters Kluwer
Perdana            Audit                                                                        May

Herda Narita       [International Audit Seminar 2025] Paving the Path to Sustainable         26 Februari      Online      SPA FEB UI
                   Goals: Advancing Finance and Auditing for a Greener Future                 February

Herdi Krisna       Implementasi Internal Control over Financial Reporting                      7-8 Mei        Offline    IIA Indonesia
Pradana                                                                                         May

Irwanto            Audit for Tomorrow: Strategic. Future-Ready. Sustainable                 27-28 Agustus     Offline         IIA
                                                                                               August

Ivan Stefanus      Fraud Detection Blueprint: Five Essential Actions for Audit              16 September      Online    Wolters Kluwer
                   Professionals




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Nama                Topik                                                                Tanggal       Tempat     Pelaksana
Name                Subject                                                                Date         Venue      Provider/
                                                                                                                  Facilitator


Leonardus           Paving the Path to Sustainable Goals: Advancing Finance and          26 Februari   Online      SPA EB UI
Winston Lim         Auditing for a Greener Future                                         February

Luvita Damayanti    Effective Report Writing For Internal Auditor                        19-20 Mei     Online         YPIA
                                                                                            May

Muhammad Rizqi      Internal Audit Strategy Development: A Workshop for Success          30 Januari    Online    Wolters Kluwer
Anwar                                                                                     January

Ratna Puspita Sari Financial Auditing for Internal Auditor                                14-15 Mei    Offline   IIA Indonesia
                                                                                            May

Ryan Adhitya        The Art of the Possible: Agile & Lean Ways of Working in Internal     6 Maret      Online    Wolters Kluwer
                    Audit                                                                  March

Yonatan Kurniadi    Fraud Detection Blueprint: Five Essential Actions for Audit         16 September   Online    Wolters Kluwer
                    Professionals



Laporan Ringkas Pelaksanaan Tugas Tahun                                 Brief Report on Activities in 2025
2025 [SEOJK 2.g.10.h]
Selama tahun 2025, Unit Audit Internal telah                            During 2025, the Internal Audit Unit implemented
melaksanakan seluruh Rencana Audit Tahunan                              all Annual Audit Plans determined in the beginning
yang ditetapkan di awal tahun bersama dengan                            of the year together with the Directors and BOC
Direksi dan BOC melalui Komite Audit. Termasuk di                       through the Audit Committee. Included in the
rencana tersebut adalah audit berkala berdasarkan                       plan are periodic audits based on a risk-based
pendekatan berbasis risiko yang terdiri dari 9                          approach as well as 9 (nine) assignments, which
(sembilan) penugasan, yang mencakup Audit                               include Operational, Financial and Information
Operasional, Finansial dan Pengendalian Umum                            Technology General Controls Audits as follows:
Teknologi Informasi sebagai berikut:
• Audit atas area Asset Management (ITC)                                •   Audit on Asset Management area (ITC)
• Audit atas area Residential                                           •   Audit on Residential area
• Audit atas area Retail & Hospitality (DP Mall)                        •   Audit on Retail and Hospitality area (DP Mall)
• Audit atas area Customer Relation                                     •   Audit on Customer Relation area
• Audit atas area Akad Jual Beli (AJB)                                  •   Audit on Sales and Purchase Deed area
• Audit atas area Finansial                                             •   Audit on Financial area

Unit Audit Internal telah membuat laporan hasil                         The Internal Audit Unit periodically reports its
audit secara berkala dan menyampaikannya                                findings to the President Director and the BOC
kepada Direktur Utama dan BOC melalui Komite                            through the Audit Committee. Included in the
Audit. Termasuk dalam laporan tersebut adalah                           report are the recommendations for improvement
rekomendasi perbaikan dan pemantauan atas                               and monitoring the completion of these findings.
implementasi atas perbaikan tersebut. Secara                            Periodically, as defined in the Charter of Internal
berkala sebagaimana yang diatur dalam                                   Audit Unit, the Internal Audit Unit has reported
Piagam Unit Audit Internal, Unit Audit Internal                         internal audit activities to the Audit Committee 4
telah melaporkan kegiatan audit internal kepada                         (four) times in 2025 in the Meetings of the Audit
Komite Audit sebanyak 4 (empat) kali pada                               Committee. Please refer to the details of these
tahun 2025 melalui Rapat Komite Audit. Rincian                          activities in the Audit Committee Meeting part on
laporan ini dapat dibaca pada sub Rapat Komite                          page 179 in this Annual Report.
Audit pada halaman 179 Laporan Tahunan ini.
[SEOJK 2.g.10.h]




194         LAPORAN TAHUNAN 2025
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                                                                                                    PT Duta Pertiwi Tbk




Sistem Pengendalian Internal
Internal Control System
[SEOJK 2.g.11] [ACGS D.3.17]




Sistem pengendalian internal diterapkan pada                       The internal control system has been implemented
semua unit kerja di semua tingkatan untuk                          across all work units to uphold alignment between
memastikan kesesuaian antara keputusan dan                         decisions and its execution. Employing a risk-
pelaksanaannya. Sistem pengendalian internal                       based methodology on the Company’s internal
Perusahaan telah menggunakan pendekatan                            control system to ensure all the significant risks
berbasis risiko supaya dapat memastikan bahwa                      have been mitigating effectively.
risiko-risiko signifikan Perusahaan telah dimitigasi
secara efektif.

Direksi dibantu oleh Unit Internal Audit secara                    The Directors, assisted by the Internal Audit Unit,
berkala mengevaluasi dan memperbaharui sistem                      gradually evaluate and update the internal control
pengendalian internal agar tetap selaras dengan                    system to stay in line with the Company’s vision,
visi, misi, tujuan, sasaran dan strategi jangka panjang            mission, objectives, aims and long-term strategy,
Perusahaan, termasuk kepatuhan terhadap                            including compliance to the applicable standard
peraturan dan standar yang berlaku. Pembaharuan                    and regulation. The renewal of the internal
sistem pengendalian internal mempertimbangkan                      control system encompasses financial control,
aspek pengendalian keuangan, operasional,                          operational, human capital, communication and
sumber daya manusia, sistem teknologi informasi                    information technology systems.
dan komunikasi. [PUGKI 1.1.3]


Tinjauan atas Efektivitas Sistem Pengendalian                      Review of the Efficacy of the Internal Control
Internal [SEOJK 2.g.11.b] [ACGS E.3.18] [PUGKI 1.3.7]              System
Direksi dan BOC telah melakukan penilaian                          The Directors and the BOC have assessed
efektivitas pengendalian internal atas pelaporan                   the effectiveness of the Company’s internal
keuangan Perusahaan pada tanggal 6 Maret                           control concerning the financial reporting as of
2026. Berdasarkan penilaian ini, manajemen                         March 6th, 2026. Following this assessment, the
menyimpulkan bahwa hingga 31 Desember                              management concluded that as of December 31st,
2025, pengendalian internal sudah cukup                            2025, the internal control system has proven to be
efektif, tercapainya integritas akuntansi dan                      effective, ensuring the integrity of the Company’s
sistem     pelaporan           keuangan               Perusahaan   accounting and financial reporting systems, as
dan pengungkapan tepat waktu dan akurat                            well as the timely and accurate disclosure of all
atas semua informasi material mengenai                             material information pertaining to the Company.
Perusahaan. [PUGKI 1.1.4] [PUGKI 1.3.8] Secara umum,               Notably, no substantial vulnerabilities have
tidak ditemukan kelemahan berarti yang dapat                       been identified that could significantly impact
berpengaruh secara signifikan terhadap kinerja                     on the Company’s financial performance. The
keuangan Perusahaan. Sistem pengendalian                           internal control framework and risk management
internal dan manajemen risiko dinilai telah                        processes are deemed sufficient and effective in
memadai dan efektif dalam memitigasi risiko                        mitigating the significant risks across financial,
signifikan, termasuk risiko keuangan, operasional,                 operational,    compliance       and     information
kepatuhan dan teknologi informasi.                                 technology.

Perusahaan tetap akan melakukan perbaikan                          The Company aims to improve the internal
secara berkesinambungan atas proses-proses                         processes across all functions by integrating
internal yang dilakukan oleh setiap fungsi dengan                  findings gathered both from internal and external
mengacu pada temuan audit baik internal                            audits, as well as findings conducted by each
maupun eksternal serta temuan oleh setiap                          function both independently and interrelated
fungsi baik secara mandiri maupun fungsi-fungsi                    departments within the Company.
terkait di Perusahaan.




                                                                                         2025 ANNUAL REPORT        195
Page 196
      Governansi Perusahaan
      Corporate Governance




Pernyataan Direksi atas Kecukupan Sistem                   Director’s Statement regarding the Adequacy of
Pengendalian Internal [SEOJK 2.g.11.c] [ACGS D.3.20]       the Internal Audit System
Kami menegaskan bahwa penerapan sistem                     We confirm that the internal control system
pengendalian internal untuk tahun buku yang                implemented for the financial year ending on
berakhir pada tanggal 31 Desember 2025 telah               December 31st, 2025, has presented reasonable
memberikan reasonable assurance, tetapi tidak              assurance, though not absolute. The Company
absolut. Perusahaan tidak akan terpengaruh                 will not be negatively affected by events that
secara negatif, oleh peristiwa yang secara                 could reasonably be expected. Furthermore, it is
wajar dapat diperkirakan. Lebih lanjut, kami               important to note that no internal control system
juga menyatakan bahwa tidak ada sistem                     can guarantee absolute assurance against the
pengendalian internal yang dapat memberikan                incidence of material errors, poor judgment in
absolute assurance dalam hal ini, terhadap                 decision making, human errors, losses, losses,
terjadinya   kesalahan     material,           penilaian   fraud or other irregularities.
yang buruk dalam pengambilan keputusan,
kesalahan manusia, kerugian, penipuan atau
penyimpangan lainnya.




Sistem Manajemen Risiko
Risk Management System
[SEOJK 2.g.12]




Sejak 1 Juli 2013, Perusahaan telah menerapkan             Since July 1st, 2013, the Company has implemented
Kerangka Manajemen Risiko Perusahaan (ERM)                 the Corporate Risk Management Framework
yang telah diperbaharui beberapa kali dengan               (ERM), which has undergone multiple updates,
pembaharuan terakhir pada 26 September                     with the latest revision dated September 26th,
2021. Kerangka ERM bertujuan untuk melindungi              2021. This framework is dedicated to safeguarding
kepentingan semua pemangku kepentingan.                    all stakeholders through comprehensive and
Kerangka ERM ini secara berkesinambungan                   systematic risk management practices. Regular
dievaluasi penerapan dan efektivitasnya.                   assessments are conducted to evaluate both the
                                                           execution and efficacy of the framework.

Sejak 2021, Perusahaan makin sadar akan                    Since 2021, the Company has recognized its escalating
dampaknya yang signifikan dan makin luas kepada            influence on an expanding array of stakeholders.
makin banyak pemangku kepentingan. Karena                  Consequently, the ERM framework has undergone
itu, kerangka ERM diperbaharui sehingga mampu              enhancements to broaden the spectrum of risk
memperluas lingkup penerapan manajemen                     management practices and now encompasses
risiko yang mencakup isu-isu terkait keberlanjutan         issues related to the Company’s sustainability,
Perusahaan, termasuk di dalamnya risiko-risiko             incorporating risks associated with Environmental,
terkait Lingkungan, Sosial dan Tata Kelola (ESG),          Social and Governance (ESG), alongside climate
serta perubahan iklim. Risiko-risiko terkait ESG           change. Notably, ESG-related risks have been
diintegrasikan ke dalam kategori risiko yang telah         integrated within the current risk categories rather
ada dan tidak membuat kategori risiko yang terpisah.       than being established as a distinct category.

Direksi akan terus menerus memperbaharui                   The Directors will regularly update the risk
sistem manajemen risiko secara berkala agar                management system to ensure it remains
tetap selaras dengan visi, misi, tujuan, sasaran dan       aligned with the Company’s vision, mission, goals,
strategi jangka panjang Perusahaan. [PUGKI 1.1.3]          objectives and long-term strategies.




196       LAPORAN TAHUNAN 2025
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Kami menerapkan prinsip-prinsip ERM berstandar         We implement globally recognized ERM principles
internasional     yang    disesuaikan     dengan       tailored to the Company’s specific business
lingkungan bisnis dan budaya Perusahaan, yaitu         environment and culture, namely:
sebagai berikut:
a. ERM merupakan bagian tidak terpisahkan dari         a. ERM constitutes an integral part across
    seluruh proses dalam organisasi dan akan              all organizational processes, ensuring its
    dilekatkan pada semua aktivitas, proses dan           integration into every activity, procedure, and
    sistem;                                               system;
b. ERM merupakan bagian tidak terpisahkan dari         b. ERM is an integral part of the decision-making
    proses pengambilan keputusan;                         processes;
c. ERM didasarkan pada informasi risiko yang           c. ERM is based on available risk information;
    tersedia;
d. ERM merupakan proses yang dinamis,                  d. ERM is a dynamic process, iterative, responsive
    dapat diulang (iteratif), responsif terhadap          to change and adaptable;
    perubahan dan dapat disesuaikan;
e. ERM disesuaikan dan mendukung tujuan                e. ERM is customized and supports strategic and
    strategis dan bisnis;                                 business goals;
f. ERM merupakan proses yang digerakkan                f. ERM is a process driven by the involvement of
    oleh keterlibatan sumber daya manusia                 human resources and fostering accountability
    dan menciptakan tanggung jawab secara                 across all involved parties;
    menyeluruh dari semua pihak;
g. ERM merupakan proses yang senantiasa                g. ERM is ongoing process requires continual
    berevolusi dan memerlukan pengembangan                development.
    yang berkesinambungan.

Implementasi Kerangka ERM secara spesifik              The application of the ERM Framework specifically
bertujuan mencapai hal berikut:                        aims to accomplish the following:
a. Memfasilitasi identifikasi dari risiko bisnis dan   a. Facilitate the identification of business risks
   potensi dampak yang mungkin terjadi, baik              and assess their potential impact, whether
   positif maupun negatif, dalam pencapaian               positive or negative, in achieving the
   target bisnis Perusahaan;                              Company’s strategic goals;
b. Mengembangkan dan mengilhami budaya                 b. Develop and instill a corporate risk culture
   risiko Perusahaan;                                     within the Company;
c. Mendorong pengambilan risiko yang sesuai            c. Encourage desired risk taking behaviours;
   dengan ekspektasi Perusahaan;
d. Mendukung pengambilan keputusan berbasis            d. Promote the adoption of risk-based decision
   risiko;                                                making;
e. Menetapkan peran dan tanggung jawab ERM             e. Define distinct roles and responsibilities for
   secara jelas dalam Perusahaan;                         ERM across the Company;
f. Mendorong informasi terkait risiko Perusahaan       f. Promote timely and accurate Company-
   yang tepat waktu dan akurat; dan                       related risk information; and
g. Meningkatkan kesiapan Perusahaan dalam              g. Enhance the Company’s readiness to manage
   menghadapi risiko-risiko yang mungkin terjadi.         risks.


Pemetaan dan Mitigasi Risiko                           Risk Mapping and Mitigation
Proses pemetaan dan pengukuran risiko yang             The Company engages in a comprehensive
dilakukan Perusahaan terhadap berbagai                 process of mapping and evaluating risks across
aspek dalam operasinya. Proses ini juga                different aspects of its operations. This process
mempertimbangkan perubahan lingkungan,                 takes into account environmental changes, both
baik faktor eksternal maupun internal.                 external and internal factors.




                                                                            2025 ANNUAL REPORT        197
Page 198
       Governansi Perusahaan
       Corporate Governance




Kami mengklasifikasikan risiko yang dihadapi                                     We classify the Company’s risks into five
Perusahaan menjadi 5 (lima) kategori. Masing-                                    categories. Each category is supplemented by
masing kategori diperlengkapi dengan sistem                                      its corresponding mitigation system, outlined as
mitigasi masing-masing       sebagai   berikut:                                  follows:
[SEOJK 2.g.12.b] [ACGS D.3.19]



   • Mengkaji eksposur
     instrumen keuangan
     Perusahaan yang
     sensitif terhadap suku
     bunga dan melakukan
     analisa sensitivitas.                                                                     Memberikan informasi
   • Melakukan lindung nilai                                                                   mengenai pasar dan
     alami terhadap mata            Pengelolaan risiko                                         pesaing untuk unit kerja
     uang asing.                    menggunakan beberapa                                       terkait agar mengambil
   • Melakukan pemantauan           kontrol internal dan                                       langkah-langkah yang          Melakukan identifikasi,
     pasar dan memastikan           menjaga hasil dari                                         diperlukan sesuai dengan      evaluasi dan mitigasi
     eksposur risiko terhadap       pengembangan proyek                                        rencana kerja masing-         terhadap risiko utama
     volatilitas investasi          (meliputi ketepatan                                        masing. Misalnya,             pada masing-masing
     dijaga pada kondisi            waktu penyelesaian            Komunikasi yang              risiko Perusahaan tidak       unit kerja yang tertuang
     minimum.                       proyek, kualitas dan          aktif dan hubungan           mampu mencapai target         dalam profil risiko unit
   • Menjaga tingkat Kas            efisiensi biaya). Kualitas    baik dengan otoritas         bisnis karena kegagalan       kerja. Tingkat risiko
     dan Setara Kas beserta         pengembangan produk           terkait, asosiasi properti   dalam menjawab                dan kecukupan dari
     fasilitas pendanaan            juga telah dimonitor          dan melakukan                persaingan usaha secara       kontrol yang ada akan
     yang memadai bagi              melalui indikator-            pemantauan terhadap          tepat, perubahan asumsi       ditinjau setiap tahun
     manajemen untuk                indikator terkait             perubahan-perubahan          strategis, serta kondisi      dan langkah-langkah
     membiayai kegiatan             seperti rasio Customer        perundangan-undangan         pasar dan ekonomi yang        perbaikan diawasi
     operasional.                   Acceptance.                   maupun kepatuhan.            kurang menguntungkan.         secara berkala.




                                                                  Risiko yang timbul dari
                                                                                                  Risiko yang muncul
                                                                    perubahan hukum                                          Risiko yang timbul akibat
                                       Risiko yang mungkin                                      akibat ketidakakuratan
       Risiko akibat posisi                                       dan undang-undang,                                         kelemahan atau ketidak-
                                           terjadi dalam                                          perencanaan atau
   instrumen keuangan dan                                          kepatuhan terhadap                                        cukupan proses internal,
                                        semua fase proyek                                         penerapan strategi
   kegiatan keuangan, yang                                       regulator dan peraturan                                      sumber daya manusia,
                                    pengembangan properti,                                      bisnis atau perubahan
      meliputi risiko kredit,                                    pemerintah daerah dan/                                        sistem teknologi, atau
                                     termasuk perencanaan                                          lingkungan bisnis
      risiko likuiditas, risiko                                   atau sengketa dengan                                       peristiwa eksternal yang
                                        proyek, koordinasi,                                     eksternal, yang dapat
     pasar dan pelaporan                                            pihak ketiga terkait                                       mempunyai dampak
                                    pelaksanaan dan tahap                                            mempengaruhi
            keuangan.                                             tindakan hukum yang                                            pada operasional
                                           penyelesaian.                                          Perusahaan dalam
                                                                  dapat mempengaruhi                                                 sehari-hari.
                                                                                                    jangka panjang.
                                                                        Perusahaan.



                                                                   Risiko Hukum/
   Risiko Keuangan                     Risiko Proyek                 Kepatuhan                   Risiko Strategis            Risiko Operasional
    Financial Risks                    Property Risks                   Legal/                    Strategic Risk              Operational Risk
                                                                  Compliance Risk



                                                                 Risk of changes in law and    Risk of changes in law and
       Risks resulting from         Risks that may appear in                                                                    Risk appears from
                                                                   legislations, comply to       legislations, comply to
      financial instrument           all stages of a property                                                               weakness or lack of internal
                                                                  the regulators and local      the regulators and local
     position and financial           development project,                                                                  process, human resources,
                                                                  government regulations        government regulations
    activities, which includes           including project                                                                    technological system,
                                                                 and/or disputes with third    and/or disputes with third
    credit risks, liquidity risk,    planning, coordination,                                                                  or external events that
                                                                   parties related to legal      parties related to legal
    market risk and financial         implementation and                                                                     have an impact on daily
                                                                  actions that may impact       actions that may impact
             reporting.                completion stages.                                                                           operations.
                                                                        the Company.                  the Company.




   • Reviewing the coverage         Risk management uses         Active communication          Provide information           Identifying, evaluating
     of the Company’s               several internal controls    and good relations with       related to the market         and mitigating the major
     financial instruments          and retains the results      relevant authorities,         and competitors for           risk in each work unit
     that are sensitive to          of project development       property associations         the relevant work units       as indicated in the work
     interest rates and             (covering timeliness         and observing changes         to take the required          unit risk profile. The risk
     overseeing sensitivity         of project completion,       in legislation and            actions in line with          level and adequacy of
     analysis.                      quality and cost             compliance.                   their respective work         existing controls will be
   • Conduct inherent               efficiency). The quality                                   plans. For example,           reviewed annually and
     hedging against foreign        of product development                                     the Company is not            corrective measures
     currency.                      has also been observed                                     able to achieve its           monitored regularly.
   • Observing the market           through related                                            business targets due
     and ensuring that risk         indicators such as the                                     to failure to respond to
     exposure to investment         Customer Acceptance                                        business competition
     volatility is maintained       ratio.                                                     appropriately, changes
     to a minimum.                                                                             in strategic assumptions
   • Retaining the level                                                                       as well as unfavorable
     of Cash and Cash                                                                          market and economic
     Equivalents along                                                                         conditions.
     with adequate
     funding facilities for
     management to finance
     operational activities.




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Selain itu, untuk risiko-risiko yang terkait dengan      In addition, to address risks associated with
Teknologi Informasi (TI), Perusahaan juga telah          Information Technology (IT), the Company has
menyusun IT Disaster Recovery Plan (ITDRP)               developed an IT Disaster Recovery Plan (ITDRP)
dengan didasarkan oleh kajian mendalam atas              based on a comprehensive analysis of the
risiko-risiko utama terkait dengan bidang tersebut.      main risks in this area. The ITDRP outlines the
ITDRP mendeskripsikan kerangka kerja, strategi           framework, strategies and guidelines necessary
dan panduan untuk memulihkan infrastruktur               for restoring infrastructure and facilities following
dan fasilitas dari gangguan yang berdampak               disruptions that affect IT services. The guidelines
terhadap gangguan dan layanan TI. Pedoman                for the ITDRP are detailed in policy No.ERM-04,
ITDRP tertuang pada kebijakan No.ERM-04 tanggal          dated December 16th, 2014 and have been in
16 Desember 2014 dan telah diterapkan sejak tahun        effect since 2014, alongside the implementation
2014 bersamaan dengan penerapan manajemen                of risk management practices.
risiko. [ACGS (B)D.5.1] [PUGKI 1.1.6.2]


Tinjauan atas Efektivitas Sistem Manajemen               Review of the Efficacy of the Risk Management
Risiko [SEOJK 2.g.12.b] [ACGS D.3.18] [PUGKI 1.3.7]      System
Direksi dan BOC menilai bahwa sistem manajemen           The Directors and the BOC assessed that the risk
risiko pada tahun 2025 telah dilakukan secara            management system in 2025 has been carried
tepat dan efektif. Semua risiko yang muncul              out appropriately and effectively. All potential
telah teridentifikasi dan telah memiliki langkah         risks have been identified and corresponding
mitigasi sebelum terjadi. Sebagian besar proses          mitigation strategies have been available prior to
bisnis telah menjadi bagian di dalam sistem              happening. Most business processes have been
manajemen risiko.                                        integrated into the risk management framework.

Lebih lanjut, manajemen risiko secara konsisten          Moreover, the risk management is consistently
disosialisasikan di semua level Perusahaan               communicated throughout all tiers of the
sehingga dapat dipahami dan diinternalisasi              Company to ensure comprehension and
oleh semua karyawan Perusahaan. Sosialisasi              assimilation by all employees. This dissemination
dilakukan melalui komunikasi langsung maupun             is facilitated through direct communication and
situs internal Perusahaan.                               the Company’s internal website.


Pernyataan Direksi atas Kecukupan Sistem                 Director’s Statement regarding the Adequacy
Manajemen Risiko [SEOJK 2.g.12.c] [ACGS D.3.20]          of the Risk Management System
Kami     menegaskan         bahwa            penerapan   We confirm that risk management implemented
manajemen risiko untuk tahun buku yang                   for the financial year ending December 31st, 2025,
berakhir pada tanggal 31 Desember 2025 telah             has presented reasonable assurance, though
memberikan reasonable assurance, tetapi tidak            not absolute. The Company will not be negatively
absolut, Perusahaan tidak akan terpengaruh               affected by events that could reasonably be
secara negatif, oleh peristiwa yang secara               expected. Furthermore, it is important to note
wajar dapat diperkirakan. Lebih lanjut, kami             that no internal control system can guarantee
juga menyatakan bahwa tidak ada manajemen                absolute assurance, against the incidence
risiko yang dapat memberikan absolute                    of material errors, poor judgment in decision
assurance dalam hal ini, terhadap terjadinya             making, human errors, losses, losses, fraud or
kesalahan material, penilaian yang buruk dalam           other irregularities.
pengambilan keputusan, kesalahan manusia,
kerugian, penipuan atau penyimpangan lainnya.




                                                                               2025 ANNUAL REPORT         199
Page 200
      Governansi Perusahaan
      Corporate Governance




Perkara Hukum Penting
Substantial Legal Cases
[SEOJK 2.g.13]




Kami tidak menghadapi perkara hukum yang             As of December 31st, 2025, there have been no
signifikan sampai dengan 31 Desember 2025, yang      notable legal cases involving members of the
melibatkan para anggota BOC maupun Direksi.          BOC or the Directors.

Kami berkeyakinan bahwa kewajiban yang               We believe that any potential liabilities stemming
mungkin timbul atas gugatan hukum atau               from legal actions or claims by third parties will
tuntutan dari pihak ketiga, jika ada, tidak akan     have minimal impact on our future financial
mempengaruhi posisi keuangan dan hasil operasi       position and operational results. Furthermore, the
di masa yang akan datang secara signifikan.          Company has not incurred any administrative
Dari permasalahan hukum yang terjadi tidak           penalties related to legal matters.
ada sanksi administratif yang dikenakan kepada
Perusahaan. [SEOJK 2.g.13.c]

Perusahaan memiliki Divisi Hukum yang bertugas       The Company has a Legal Division responsible for
menjaga kepentingan Perusahaan dari sisi             protecting the Company’s interests and ensuring
hukum serta memastikan bahwa kegiatan kami           compliance with pertinent laws and regulations.
berada dalam koridor hukum dan perundang-
undangan yang berlaku.


Perkara Penting Yang Dihadapi Perusahaan             The Company’s Substantial Lawsuits
Pada tahun 2025, perkara hukum dan kewajiban         In 2025, legal cases and contingencies that
bersyarat yang masih dihadapi Perusahaan telah       are currently faced by the Subsidiaries have
tertuang dalam Laporan Keuangan Konsolidasi          been disclosed in the Company’s Consolidated
Perusahaan untuk tahun yang berakhir pada 31         Financial Statements for the years ended
Desember 2025 dan 2024, Catatan No.45 tentang        December 31st, 2025 and 2024, Note No.45
Perkara Hukum dan Kewajiban Bersyarat adalah         regarding Legal Cases and Conditional Liability
sebagai berikut:                                     are as follows:

Perusahaan menghadapi enam (6) gugatan oleh          The Company is a party to six (6) lawsuits
pihak ketiga, mengenai sertifikat HGB. Perusahaan    in connection with the Building Use Rights
telah memenangkan seluruh perkara tersebut           Certificate. The Company has won all the cases
di tingkat banding di Pengadilan Tinggi DKI          in the High Court of DKI Jakarta. Six (6) cases
Jakarta. Di tingkat kasasi, enam (6) perkara telah   have been ruled in favor of the Company based
dimenangkan oleh Perusahaan. Keenam perkara          on the Supreme Court. The six cases already had
tersebut telah memiliki kekuatan hukum tetap.        permanent legal force.

Perusahaan menghadapi delapan (8) perkara            The Company is a party in eight (8) lawsuits in
mengenai HGB. Perusahaan telah memenangkan           connection with the Building Use Rights Certificate.
perkara tersebut. Pihak penggugat dari seluruh       The Company has won those cases. The plaintiff
perkara tersebut mengajukan banding dan sudah        of all those lawsuits filed for appeal. All cases
diputus dan dimenangkan oleh Perusahaan. Dari        were settled in an appeal process and had been
delapan (8) perkara banding yang telah putus,        decided in favor of the Company. Whereas, those
tujuh (7) perkara naik ke tingkat kasasi dan satu    eight (8) cases were settled, seven (7) cases
(1) perkara sudah memiliki kekuatan hukum tetap,     entered appeal process and one (1) case already
karena pihak ketiga tidak melakukan upaya            had permanent legal force, because a third party
hukum kasasi ke Mahkamah Agung RI (MARI).            did not file an appeal to Supreme Court of RI
Kedelapan perkara tersebut telah memiliki            (MARI). The eight cases already had permanent
kekuatan hukum tetap.                                legal force.




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Perkara Penting yang Dihadapi Entitas Anak                      The Subsidiaries’ Substantial Lawsuits
Pada tahun 2025, tidak ada perkara hukum                        In 2025, the Subsidiaries did not encounter any
dan kewajiban bersyarat baru yang dihadapi                      new legal matters or contingencies, as refer to
Entitas Anak, sebagaimana yang tertuang dalam                   the Consolidated Financial Statements of the
Laporan Keuangan Konsolidasi Perusahaan untuk                   Company for the year ending on December 31st,
tahun yang berakhir pada 31 Desember 2025 dan                   2025 and 2024 Note No.45 on Legal Matters and
2024, Catatan No.45 tentang Perkara Hukum dan                   Contingencies.
Kewajiban Bersyarat.




Informasi tentang Sanksi
Administratif
Information about Administrative Sanctions
[SEOJK 2.g.14]




Pada tahun 2025, Perusahaan maupun Entitas                      In 2025, neither the Company nor the Subsidiaries
Anak, tidak dikenakan sanksi administratif                      has been subjected to administrative or non-
maupun non administratif.                                       administrative sanctions.



Pelanggaran yang Dilakukan Perusahaan                 Violation by the Company                                     2025




Kelalaian memberikan hak yang setara kepada           Negligence grants equal rights to all shareholders            X
semua pemegang saham dalam hal penjualan              regarding the sale of new shares or repurchase shares.
saham baru atau pembelian kembali saham.


Kelalaian memberikan hak yang setara kepada           Negligence grants equal rights to all shareholders in         X
semua pemegang saham dalam hal keterbukaan            terms of information disclosure.
informasi.


Kelalaian menyatakan      mata   acara   di   dalam   Failure to specify agenda items in the GMS invitation.        X
panggilan RUPS.


Pelanggaran atau ketidakpatuhan pada undang-          Violations or non-compliance within the Company’s             X
undang atau ketentuan yang berlaku di wilayah         operational areas, whether pertaining to labor,
operasional Perusahaan, baik terkait tenaga kerja,    consumer, competition or other relevant areas.
konsumer, persaingan dan lainnya.


Pelanggaran atau ketidakpatuhan pada undang-          Violation or non-compliance with pertinent laws and           X
undang atau ketentuan yang berlaku di bidang pasar    regulations within the capital markets issues.
modal.

Perdagangan orang dalam.                              Insider trading.                                              X


Kelalaian dalam pengungkapan informasi material       Failure to disclose material information within the           X
dalam jangka waktu yang telah ditetapkan.             specified period.


Laporan keuangan Perusahaan mendapatkan opini         The Company’s financial statements receive an                 X
“Wajar Dengan Pengecualian” atau “Tidak Wajar”        opinion of “Qualified Opinion”, “Adverse Opinion”,
atau “Tidak Memberikan Pendapat”.                     “Disclaimer Opinion”.




                                                                                           2025 ANNUAL REPORT             201
Page 202
        Governansi Perusahaan
        Corporate Governance




Pedoman Etika Berperilaku
Code of Conduct
[SEOJK 2.g.15]




Direksi menetapkan Kode Etik dengan Surat                  The Directors have established the Code of
No.HC-00.01 tanggal 28 Maret 2013. Secara                  Conduct as stipulated in the Letter No.HC-00.01,
berkala, Direksi mengevaluasi pokok-pokok                  issued on March 28th, 2013. Periodically, the
di dalam Kode Etik dan memperbaharuinya,                   Directors evaluate the key points in the Code
bila perlu, sesuai dengan perkembangan etika               of Conduct and update it, if necessary, to be in
industri, nasional dan regional. Akan tetapi               accordance with the development of the ethics
sampai saat ini, Direksi melihat bahwa Kode Etik           that are practiced regionally, nationally, and in
yang ada sudah cukup mendukung budaya                      the industry. However as of now, the Directors see
korporasi yang berintegritas dan mampu                     that the existing Code of Conduct is adequate in
menunjang keberlanjutan Perusahaan. [PUGKI 1.1.1.1]        supporting an integrated corporate culture and
[PUGKI 1.1.1.4]                                            is able to support the Company’s sustainability.

Pokok-pokok yang tercantum dalam Kode Etik                 The main points in the Code of Conduct are:
adalah: [SEOJK 2.g.15.a] [ACGS D.2.1]
1. Kepatuhan          terhadap         hukum,  regulasi,   1. Compliance with laws, regulations, policies
    kebijakan dan prosedur;                                    and procedures;
2. Keunggulan dalam kinerja;                               2. Excellence in performance;
3. Tanggung jawab kepedulian, termasuk sikap               3. Duty of care, including attitude toward others,
    terhadap orang lain, mengkonsumsi narkotika                consumption of narcotics and alcoholic drinks,
    dan minuman keras, pelecehan seksual, perjudian,           sexual harassment, gambling, and clean desk
    serta kebiasaan tempat kerja yang rapi;                    habit;
4. Informasi       rahasia,         termasuk  larangan     4. Confidential information, including prohibition
    perdagangan orang dalam; [PUGKI 7.2.3]                     on insider trading;
5. Penyebaran data Perusahaan;                             5. Disclosure of Company data;
6. Pengembangan proyek;                                    6. Project development;
7. Benturan kepentingan;                                   7. Conflict of interest;
8. Pekerjaan sampingan;                                    8. Outside employment;
9. Directorship di Perusahaan atau jajaran                 9. Directorship in the Company or member of the
    manajemen di perusahaan lain dimana                        companies where the Company has business
    Perusahaan memiliki kepentingan bisnis;                    interest;
10. Tata cara berpakaian;                                  10. Dress code;
11. Penggunaan tanda pengenal karyawan;                    11. Use of employee ID card;
12. Penggunaan dana Perusahaan;                            12. Use of Company fund;
13. Peraturan IT; dan                                      13. IT regulations; and
14. Pemakaian peralatan kantor dan perabotan               14. Use of Company office equipment and
    Perusahaan.                                                furniture.




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Penerapan dan Sosialisasi Kode Etik [SEOJK 2.g.15.b]    Implementation and Socialization of the Code of
[PUGKI 4.2.1]                                           Conduct
Setiap jajaran manajemen dan karyawan,                  All management and employees, including the
termasuk Direksi dan BOC wajib mematuhi Kode            Director and BOC, is required to adhere to the
Etik, peraturan, regulasi, semua kebijakan dan          Company’s Code of Conduct, rules, regulations,
prosedur Perusahaan. [SEOJK 2.g.15.c] [ACGS D.2.2]      policies and procedures.

Perilaku karyawan adalah tanggung jawab                 It is the responsibility of each employee to uphold
karyawan, di mana kepatuhan menegaskan                  proper conduct, while compliance signifies their
komitmen karyawan terhadap standar integritas           dedication to maintaining the highest standards
tertinggi dalam hubungan satu sama lain.                of integrity in their interactions with colleagues.

Direksi bertanggung jawab dalam membangun               The Directors is responsible to build a structure
struktur yang memastikan penerapan Kode Etik            that ensures the implementation of the Code
di tingkat individual. Untuk itu, setiap Kepala         of Conduct at individual level. Therefore, each
Divisi bertanggung jawab untuk memastikan               Division Head is tasked with ensuring employee
kepatuhan setiap karyawan dengan menjadi                compliance by being role models through both
panutan melalui kata-kata dan perbuatan,                words and actions, fostering open communication,
komunikasi     terbuka,   memastikan           setiap   ensuring all employees comprehend the Code’s
karyawan mengerti isi Kode Etik, dan mengambil          contents and taking necessary measures to
tindakan wajar agar setiap tindakan tidak etis          identify and rectify unethical behavior.
dapat dideteksi dan ditangani. [PUGKI 1.1.1.2]

Kode Etik disosialisasikan melalui situs internal       The Code of Conduct is disseminated through the
Perusahaan. Setiap perubahan dalam Kode Etik            Company’s internal platforms. Any modifications
akan diinformasikan melalui situs tersebut. Program     to the Code will be communicated through
Onboarding for New Hire mengintegrasikan Kode           the same channels. The Onboarding program
Etik sebagai salah satu materi untuk karyawan           for new hires includes the Code of Conduct as
baru. Kami juga dalam proses untuk mendorong            essential material for orientation. Our efforts are
standar ini keluar organisasi, yaitu rekan-rekan        underway to expand this protocol beyond internal
bisnis kami. [ACGS D.2.1]                               boundaries, specifically our business partners.

Penerapan Kode Etik dilakukan hingga menjadi            Implementation of the Code of Conduct is integral
budaya Perusahaan. Setiap karyawan harus                to fostering a corporate culture. It is mandatory
menandatangani surat pernyataan menaati                 for all employees to annually sign an updated
Kode Etik yang diperbaharui setiap tahun. Surat         statement affirming their commitment adhere
Pernyataan yang menyatakan bahwa karyawan               to the Code of Conduct. It stated that employees
telah membaca dan memahami Kode Etik                    have thoroughly reviewed and comprehended
Perusahaan terkait benturan kepentingan,                the Company’s regulations on conflicts of interest,
gratifikasi serta seluruh hal yang terkandung di        gratuities and all other guidelines outlined in the
dalam Kode Etik dan Peraturan Perusahaan.               Code of Conduct and Corporate Rules.

Setiap pelanggaran Kode Etik akan memberikan            All violations of the Code of Conduct will result in
konsekuensi yang tegas dan sama kepada                  uniform and strict consequences for all offenders.
semua pelanggar. Perusahaan juga mendorong              The Company advocates for oversight of Code
pengawasan terhadap implementasi Kode                   of Conduct adherence through a whistleblower
Etik melalui sistem pelaporan pelanggaran               system overseen by the Head of the Human
yang merupakan tanggung jawab Kepala Unit               Capital Unit, who, in turn, reports to the Directors.
Human Capital yang pada gilirannya melapor              The Company ensures protection for individuals
kepada Direksi. Perusahaan melindungi setiap            reporting violations from any form of retaliation.
pelapor pelanggaran dari semua tindak balasan.          Notably, in 2025, there were no reported
Sepanjang tahun 2025, tidak ada laporan masuk           instances of Code of Conduct violations within
terkait pelaporan pelanggaran Kode Etik di              the Company.
lingkungan Perusahaan. [ACGS D.2.3] [PUGKI 4.3.1.1]




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      Governansi Perusahaan
      Corporate Governance




Tujuan dan Isi Kode Etik [PUGKI 4.1.1] [PUGKI 8.3.1]   Purpose and Contents of the Code of Conduct
Tujuan Kode Etik:                                      Purpose of the Code of Conduct:
1. Membentuk karyawan agar memiliki tingkat            1. Foster a high level of honesty, ethics and legal
   kejujuran yang tinggi, beretika dan berperilaku        conduct of its employee;
   patuh hukum;
2. Memberi panduan mengenai etika kerja yang           2. Provide guidelines on work ethics that must be
   harus dipatuhi dan dilaksanakan secara                 duly adhered and carried out in a professional
   profesional dan bertanggungjawab;                      and responsible manner;
3. Memandu karyawan mengenal kebiasaan                 3. Guide the employees to recognize the
   berperilaku yang dapat menjaga keyakinan               behavioral habits that can preserve confidence
   terhadap integritas Perusahaan;                        in the Company’s integrity;
4. Mendorong ketaatan terhadap standar-                4. Encourage adherence to standards to
   standar untuk melindungi dan mendukung                 protect and support the shareholders and
   kepentingan para pemegang saham dan                    stakeholders’ interests;
   pemangku kepentingan;
5. Mendukung misi, visi dan nilai Perusahaan.          5. Support the Company’s mission, vision and
                                                          values.

Kode Etik menyatakan bahwa setiap karyawan             The Code of Conduct stipulates that every
wajib untuk senantiasa: [ACGS D.2.1]                   employee shall always:
1. Mematuhi semua hukum, peraturan dan                 1. Comply with all applicable laws, rules and
   regulasi yang berlaku dalam melakukan                  regulations in conducting activities and
   kegiatan dan bisnis;                                   business;
2. Bertindak dengan integritas dan jujur setiap        2. Act with integrity and honesty at all times and
   saat dan pada semua keadaan;                           under all circumstances;
3. Bertanggungjawab secara individu dalam              3. Individually responsible in complying with all
   mematuhi      semua     peraturan,    regulasi,        rules, regulations, policies and the Company’s
   kebijakan dan prosedur Perusahaan;                     procedures;
4. Melindungi integritas dan reputasi Perusahaan       4. Safeguard the Company’s integrity and
   merupakan prioritas utama dari setiap                  reputation is his/her main priority in performing
   karyawan dalam melakukan tugas masing-                 their respective duties.
   masing.


Kode Etik terhadap Vendor                              Code of Conduct Toward Vendors
Perusahaan     memiliki   komitmen     terhadap        The Company upholds a steadfast commitment
standar integritas tertinggi dalam hubungan            to the utmost integrity in its interactions with
dengan vendor. Perusahaan berkomitmen                  vendors. It pledges to fulfill all obligations to
untuk memenuhi semua kewajiban terhadap                vendors as stipulated in the legal agreements
vendor sesuai dengan kesepakatan bersama di            between both parties, ensuring compliance with
bawah hukum yang tidak bertentangan dengan             the regulations set forth by the relevant legal
peraturan-peraturan     dari    instansi-instansi      authorities.
hukum yang berwenang. [ACGS B.4.6]

Perusahaan akan melakukan pemeriksaan                  The Company will initiate inquiries into improper
terhadap kegiatan bisnis yang tidak wajar, seperti,    business practices, including but not limited to
tapi tidak terbatas kepada kegagalan mematuhi          non-compliance with legal obligations, danger
kewajiban hukum, bahaya bagi kesehatan                 to health and safety, intentional concealment
dan keselamatan, penyembunyian informasi               of information, fraudulent activities, financial
secara sengaja, penipuan dan penyimpangan              discrepancies, deliberate unethical behaviors
keuangan, perilaku bisnis yang tidak wajar             and misconduct both within and outside the
dengan sengaja, serta perilaku tidak pantas baik       organization.
di dalam maupun di luar Perusahaan.




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Vendor memiliki hak untuk melaporkan hal-hal                  Vendors have the right to report any misconduct
tersebut di atas yang dilakukan oleh karyawan                 by the Company’s employees through the
Perusahaan melalui media yang telah disediakan                designated channels and to expect appropriate
dan mendapatkan tindak lanjut yang sesuai.                    follow-up procedures.
[ACGS B.4.5]




Pernyataan Direksi Tentang Penerapan Kode Etik                The Director’s Statement Regarding the
[SEOJK 2.g.15.c] [ACGS D.2.2]                                 Application of the Code of Conduct
Kami menyatakan bahwa Kode Etik Perusahaan                    We acknowledge that the Company’s Code of
berlaku bagi seluruh Perusahaan, termasuk                     Conduct applies universally to all entities within
Pemegang Saham, Direksi, BOC dan karyawan.                    the organization, encompassing shareholders,
Kode Etik juga berlaku bagi Entitas Anak,                     the Directors, the BOC, employees, subsidiaries,
perusahaan afiliasi, pihak ketiga dan seluruh                 affiliated companies, third parties and all
mitra kerja.                                                  business partners.




Kebijakan Pemberian
Kompensasi Jangka Panjang
Long-Term Benefit Policy
[SEOJK 2.g.16] [ACGS B.6.3]




Per akhir tahun 2025, Perusahaan belum memiliki               As of the conclusion of 2025, the Company does not
kebijakan pemberian kompensasi jangka panjang.                have a long-term compensation policy in place.




Kebijakan Pengungkapan
Informasi
Disclosure Requirement Policy
[SEOJK 2.g.17]




Pengungkapan Informasi Terkait Kepemilikan                    Disclosure of Share Ownership Information by
Saham oleh Anggota Direksi dan BOC                            the Members of the Directors and the BOC
Mengacu kepada POJK No.4 Tahun 2024                           Referring to POJK No.4 Year 2024 concerning Report
tentang Laporan Kepemilikan atau Setiap                       on Share Ownership or Changes in Ownership
Perubahan Kepemilikan Saham Perusahaan                        of Public Company Share and Activity Report on
Terbuka dan Laporan Aktivitas Menjaminkan                     Public Company Share Pledge, it is mandated
Saham      Perusahaan    Terbuka,      Perusahaan             that the Company discloses share ownership and
mengungkapkan kepemilikan saham dan                           any changes in ownership by Directors and BOC
perubahan kepemilikan oleh anggota Direksi dan                members within a maximum of five working days
anggota BOC paling lambat 5 (lima) hari kerja                 following the occurrence of the change.
setelah terjadinya perubahan. [SEOJK 2.g.17.a] [ACGS A.7.1]




                                                                                   2025 ANNUAL REPORT       205
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      Governansi Perusahaan
      Corporate Governance




Informasi terkait kebijakan ini telah disampaikan               Information pertaining to this policy has been
kepada anggota Direksi dan BOC melalui                          communicated to members of the Directors and
memo internal. Lebih lanjut, setiap ada                         the BOC through internal memo. Furthermore, any
pergantian anggota Direksi dan anggota BOC                      alterations to the composition of the Directors
telah disampaikan juga mengenai kebijakan                       and the BOC, we promptly communicate the
kepemilikan saham Perusahaan oleh anggota                       Company’s share ownership policy to the
Direksi dan anggota BOC. [SEOJK 2.g.17.b]                       respective members.

Pada tahun 2025, tidak ada transaksi kepemilikan                In 2025, neither the Directors nor the members of
saham yang dilaporkan oleh Direksi dan anggota                  the BOC of the Company engaged in any stock
BOC Perusahaan baik langsung maupun tidak                       transactions, whether directly or indirectly.
langsung. [SEOJK 2.g.17.b]

Pada tahun 2025, tidak ada transaksi kepemilikan                In 2025, there were no stock transactions reported
saham yang dilaporkan oleh senior manajemen                     by senior management, whether directly or
baik langsung maupun tidak langsung. [ACGS D.1.4]               indirectly.


Kebijakan Pengungkapan Informasi Lainnya                        Disclosure Policy on Other Information
Keterbukaan selalu menjadi salah satu nilai                     Transparency has long been a core value of the
Perusahaan. Direksi dalam hal pengungkapan                      Company. The Directors take into account various
informasi (termasuk untuk pengungkapan                          factors regarding information disclosure (including
informasi keuangan berkala) mempertimbangkan                    periodic financial reporting), in accordance with
berbagai hal terkait dengan mengacu pada                        the relevant laws, as well as regulations set forth
kewajiban    pengungkapan            informasi       yang       by OJK and BEI.
disyaratkan    oleh    peraturan            perundang-
undangan, OJK dan BEI. [PUGKI 1.1.4.2] [PUGKI 6.1.1]

Untuk menjaga nilai Perusahaan tersebut,                        To uphold the Company’s value, we ensure that
kami      sekurang-kurangnya             melaksanakan           we fulfill all information disclosure obligations
semua kewajiban pengungkapan informasi                          mandated by laws, regulations, OJK and BEI.
yang disyaratkan oleh peraturan perundang-                      Additionally, we aim to present information in a
undangan, OJK dan BEI. Lebih jauh, kami juga                    clear and comprehensible manner to facilitate
berupaya untuk menyajikan informasi dengan                      informed and appropriate decision-making by all
cara yang mudah dipahami, guna memfasilitasi                    stakeholders, including:
pengambilan keputusan yang informasi dan
tepat oleh semua pemangku kepentingan,
termasuk di antaranya: [PUGKI 6.3.1]
a. Komunikasi tidak langsung melalui berita rilis               a. Indirect Communication via news release,
   (news release), keterbukaan informasi, siaran                   information disclosure, press releases can
   pers secara berkala dapat diperoleh oleh                        be obtained regularly by shareholders or
   pemegang saham atau investor dengan cara:                       investors by:
   • Mengakses berita rilis (news release)                         • Accessing news release by subscribing
      dengan berlangganan (subscribe) ke                              to ricardo.dharmawan@sinarmasland or
      alamat       email       ricardo.dharmawan@                     michael.liputra@sinarmasland.com;
      sinarmasland        atau        michael.liputra@
      sinarmasland.com; [ACGS C.7.4]
   • Mengakses keterbukaan informasi dan                           •  Access information disclosure and press
      siaran pers melalui situs BEI (www.idx.co.id)                   release via BEI website (www.idx.co.id) and
      dan situs Perusahaan www.sinarmasland.                          the Company’s website www.sinarmasland.
      com dan www.dutapertiwi.com. [ACGS C.7.2]                       com and www.dutapertiwi.com.
b. Komunikasi langsung kepada Komunitas Saham,                  b. Direct communication to the Stock Community,
   serta melalui conference call, forum pertemuan                  also via conference calls, domestic and global
   investor baik dalam maupun luar negeri, paparan                 investor meeting forums, public exposes,
   publik, road show. [ACGS C.7.3] [ACGS C.7.4] [PUGKI 7.1.1]      roadshows.




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Pertanyaan dan saran dapat disampaikan kapan                     Inquiries and recommendations can be directed
saja ke alamat dan nomor yang tersedia pada                      to the contact details listed in the Company
bagian Informasi Perusahaan pada halaman 38                      Information section on page 38 of this Annual
di Laporan Tahunan ini. [ACGS A.4.1] [ACGS C.7.2]                Report.


Pengungkapan Informasi di Dalam Situs Web                        Information Disclosure in the Company Website
Perusahaan
Perusahaan selalu memperbaharui informasi                        The Company updates the information on its
yang dapat ditemukan di dalam situs webnya,                      website, www.sinarmasland.com and www.
www.sinarmasland.com dan www.dutapertiwi.                        dutapertiwi.com. The following are several
com. Berikut adalah beberapa dokumen tata                        corporate governance documents that can be
kelola yang dapat ditemukan dan diunduh di                       found and downloaded on the website.
situs tersebut: [ACGS C.9] [PUGKI 7.1.1.4] [PUGKI 7.1.1.5]


                                                                                                Tersedia di Situs Web
Dokumen/Informasi                               Documents/Information                           Perusahaan
[ACGS C.9]                                                                                      Available on the
                                                                                                Company’s Website


Laporan Tahunan dan Laporan Keberlanjutan       Annual Report and Sustainability Report                     √
[ACGS C.9.3]                                                                                           Sejak 2008
                                                                                                       Since 2008

Laporan Keuangan triwulanan dan tahunan         Quarterly and Annual Financial Statements                   √
[ACGS C.9.1]                                                                                            Sejak 2015
                                                                                                        Since 2015

Akta Pendirian                                  Deed of Establishment                                       √
[ACGS C.9.6]


Akta Perubahan Terakhir                         Latest Deed                                                 √
[ACGS C.9.6]


Piagam Direksi dan BOC                          Charter for the Directors and the BOC                       √



Panggilan RUPS, Tata Tertib RUPS dan Formulir   Notice to the GMS, Rules of the GMS and Power               √
Surat Kuasa                                     of Attorney Form
[ACGS C.9.4]


Ringkasan RUPS (dapat diakses selama 1 tahun)   Minutes of the GMS (accessible for 1 year)                  √
[ACGS C.9.5]



Siaran Pers                                     Press Releases                                              √



Materi Paparan Publik                           Material for Public Exposes                                 √
[ACGS C.9.2]




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      Corporate Governance




Sistem Pelaporan
Pelanggaran (WBS)
Whistleblowing System (WBS)
[SEOJK 2.g.18] [ACGS B.5.1] [PUGKI 4.3.1.1]




Perusahaan telah menerapkan Sistem Pelaporan       The     Company         has     implemented      the
Pelanggaran (WBS) sejak 5 Maret 2013 dan           Whistleblowing System (WBS) since March 5th, 2013.
dengan dokumen terbaru nomor WBC-10-01             A recent update, documented as No.WBC-10-01 on
tanggal 27 Juli 2022 tentang Kebijakan dan         July 27th, 2022, outlines the revised Whistleblowing
Prosedur Whistleblowing.                           Policies and Procedures.

Tujuan sistem ini adalah agar semua orang          The system’s aim is to encourage all individuals
dapat berpartisipasi di dalam peningkatan          to actively contribute to enhancing governance
kualitas governansi tanpa khawatir akan adanya     quality without apprehension of reprisal.
suatu tindakan balasan.

Sosialisasi WBS                                    WBS Socialization
WBS telah disosialisasikan kepada setiap           The Whistleblower System is disseminated to all
karyawan melalui berbagai media, di antaranya      employees through multiple channels, such as the
situs internal dan surat elektronik. Program       internal website and email communications. The
Onboarding for New Hire untuk orientasi karyawan   Onboarding program for new hires incorporates
baru, telah mengintegrasikan materi WBS ini.       this Whistleblower System material into the
                                                   employee orientation process.


Perlindungan dan Apresiasi terhadap Pelapor        Protection and Appreciation for Whistleblowers
[SEOJK 2.g.18.b] [ACGS B.7.2]
Prinsip WBS adalah bahwa kami menyediakan          The fundamental principle of WBS entails
fasilitas saluran pelaporan yang independen,       independent, free and confidential reporting
bebas dan rahasia. Kami menjamin kerahasiaan       channels. We ensure the anonymity of
identitas    pelapor   sehingga   mendorong        whistleblowers, fostering a safe environment for
keberanian untuk melaporkan kejanggalan. Kami      reporting irregularities. Moreover, we maintain the
juga menjaga kerahasiaan identitas terlapor        confidentiality of the accused individual until their
sampai statusnya berubah menjadi terperiksa.       status changes to a suspect.

Apabila mendapatkan tekanan, ancaman atau          Should a whistleblower face any form of reprisal,
tindakan balasan lain, Pelapor dapat melaporkan    such as pressure, threats or retaliation, they have
kembali melalui mekanisme yang telah               the right to submit another report following the
ditetapkan. Kami memberikan perlindungan           established procedure. We provide protection
kepada      Pelapor     terhadap     pemecatan,    measures to whistleblowers, including but not
penurunan jabatan atau pangkat, pelecehan          limited to termination, demotion, harassment,
atau diskriminasi dalam segala bentuk serta        discrimination in any forms, as well as unfavorable
catatan yang merugikan dalam berkas data           records in their personal file.
pribadinya.




208         LAPORAN TAHUNAN 2025
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Mekanisme WBS dalam Diagram                                    The WBS Mechanism In Diagram



                       Pelapor                                  Menyampaikan laporan anonim maupun terbuka melalui
                   The Whistleblower                       1    link, telepon, email, situs web, SMS atau WA.
                                                                Submits the report anonymously or openly via link, phone,
                                                                email, website, SMS or WA.




                    1            2
                                                                Pelapor dapat memonitor status laporannya secara real
                                                          2     time dengan memasukkan ID laporan dan password.
                                                                Pelapor dapat menambah informasi untuk memperkuat
                                                                laporannya. Pengelola Jasa WBS dapat meminta informasi
                                                                lebih jika diperlukan.
                Pengelola Jasa WBS*                             The reporter can monitor his/her report in real time by
               WBS Service Management                           inputting the report ID and password. The reporter can
                                                                add information to backup his/her report. WBS Service
                                                                Management can request for more information as needed.




                          3
                                                                Menyerahkan informasi kepada Analis WBS yang telah
                                                          3     ditugaskan untuk WBS Perusahaan. Analis WBS adalah
                                                                bagian dari Pengelola Jasa WBS yang merupakan pihak
                                                                ketiga yang independen dan profesional.
                                                                Submitted information to WBS Analyst assigned for the
                                                                Company’s WBS. The WBS Analyst is part of WBS Service
                    Analisa WBS*                                Management, an independent and professional third party.
                     WBS Analyst


                                                                                                               Catatan Notes

                                                                                                  *) Pihak ketiga independen
                                                                                                        Independent third party




Mekanisme dan Sarana WBS                                       Mechanism and Methods of the WBS
Sejak Juli 2022, Perusahaan meluncurkan Sistem                 Since July 2022, the Company has implemented
Pelaporan Pelanggaran dengan menggunakan                       a Whistleblowing System facilitated by a
jasa pihak ketiga yang profesional dan berstandar              professional third party adhering to international
internasional. Ini untuk memastikan independensi               standards. This step aims to enhance the system
pengelolaan Sistem Pelaporan Pelanggaran                       management’s autonomy and align it with the
dan meningkatkan kualitas sistem agar sesuai                   highest standards of GCG.
dengan standar-standar terbaik GCG. [SEOJK 2.g.18.d]
[ACGS (B).B.1.7]


Mekanisme pelaporan pelanggaran adalah                         The procedure for reporting violations is outlined
sebagai berikut: [SEOJK 2.g.18.a] [ACGS B.7.1]                 below:
1. Pelaporan. Pelapor dapat memilih beberapa                   1. Reporting. The reporter can choose several
   metode pelaporan sebagai berikut:                              reporting methods as follows:


          +62 21 3952 8858                                         +62 812 8000 3876


          sinarmaslandwbs@tipoffs.info                             +62 812 8000 3876



                                       https://idn.deloitte-halo.com/sinarmaslandwbs/




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  Kategori isu yang dapat dilaporkan termasuk         Categories of reportable issues include fraud,
  kecurangan, korupsi, pencurian/ penggelapan,        corruption, theft/embezzlement, conflict of
  benturan kepentingan, penyuapan/gratifikasi,        interest, bribery/gratuity, abuse of authority,
  penyalahgunaan wewenang, pelanggaran                violation of the code of ethics, unethical
  kode etik, perilaku tidak etis, pelanggaran         behavior, violation of applicable regulations,
  terhadap      peraturan     yang     berlaku,       leakage of confidential data and information,
  pembocoran data dan informasi rahasia,              harassment and defamation.
  pelecehan dan pencemaran nama baik.

  Di dalam menyampaikan pelaporan, informasi          In submitting the report, the information
  yang diberikan harus sebanyak dan selengkap         provided must be as much and complete as
  mungkin termasuk:                                   possible including:
  • Nama-nama orang yang terlibat;                    • The names of the people involved;
  • Nama-nama saksi;                                  • The names of witnesses;
  • Tanggal, waktu dan lokasi kejadian;               • Date, time and location of the incident;
  • Rincian atas bukti apa pun;                       • Details of any evidence;
  • Uang atau aset-aset yang terlibat;                • The money or assets involved;
  • Seberapa sering kejadian terjadi.                 • How often the incident occured.

  Pelapor dianjurkan untuk memberikan data         The reporter is encouraged to provide personal
  diri, sekurang-kurangnya nomor telepon atau      data, at least a telephone number or email
  alamat email yang dapat dihubungi. Identitas     address where they can be contacted. The identity
  dan data pelapor akan dirahasiakan oleh          and data of the reporter will be kept confidential
  sistem WBS, kecuali bila pelapor memilih untuk   by the WBS system unless the reporter chooses to
  mengungkapkannya. Namun pelapor dapat            disclose it. However, the reporter can choose to
  memilih untuk anonim. Setiap upaya yang          remain anonymous. Every feasible effort allowed
  layak dilakukan dan diperbolehkan oleh hukum     by law will be taken to prevent the identity of the
  akan dijalankan agar identitas pelapor tidak     reporter from being revealed.
  terungkap.

2. Monitor status pelaporan. Pelapor dapat         2. Monitor reporting status. Reporters can check
   melakukan cek status terhadap pelaporan yang       the status of their reports. Each report will be
   dilakukannya. Setiap pelaporan akan diberikan      assigned a report ID and a password of the
   ID laporan dan kata sandi pilihan pelapor.         reporter’s choice.

  Apabila ada data yang perlu ditambahkan             If there is data that needs to be added to the
  terhadap laporan awal, pelapor dapat                initial report, the reporter can do so by entering
  melakukannya dengan memasukkan ID                   the same report ID and password.
  laporan dan kata sandi yang sama.

3. Tindak lanjut pelaporan. Seorang analis yang    3. Following-up the report. An analyst from the
   ditunjuk untuk mengelola WBS Perusahaan            third party who is appointed to manage the
   dari pihak ketiga akan meninjau dan                Company’s WBS will review and summarize
   merangkum informasi yang diberikan dan             the information provided and suggest the
   menyarankan tindak lanjut secara umum              general follow-up and submit the report to
   serta menyampaikan laporan tersebut kepada         a representative appointed by the Company
   perwakilan yang ditunjuk oleh Perusahaan           to follow up the report or to take corrective
   untuk menindak lanjuti laporan atau untuk          action. The Company will then decide what
   melakukan tindakan perbaikan. Perusahaan           action to take.
   kemudian akan memutuskan tindakan apa
   yang harus diambil. [SEOJK 2.g.18.c]

Pengaduan WBS [SEOJK 2.g.18.e]                     WBS Reports
Sepanjang tahun 2025, tidak ada laporan            Throughout 2025, no reports or complaints
ataupun aduan yang masuk terkait pelaporan         concerning reporting violations within the
pelanggaran di lingkungan Perusahaan yang          Company were received through the WBS.
disampaikan melalui WBS.



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Kebijakan Anti Korupsi
Anti-Corruption Policy
[SEOJK 2.g.19] [PUGKI 4.1.2]




Perusahaan sama sekali tidak mentoleransi             The Company upholds a strict stance against
perilaku    korupsi   dan    akan     membawa         corrupt behavior and is dedicated to prosecuting
pelanggaran terkait korupsi ke ranah hukum.           any corruption-related violations. We are
Kami berkomitmen untuk patuh terhadap                 committed to adhere the anti-corruption laws
peraturan anti korupsi yang berlaku di Indonesia.     enforced in Indonesia. Moreover, the Company
Lebih lanjut Perusahaan berusaha memperluas           is committed to extending these principles
upaya ini tidak hanya dengan menerapkan               beyond its internal operations to encompass all
kebijakan anti korupsi di lingkungan internal         stakeholders, including suppliers and business
Perusahaan, namun juga kepada seluruh                 partners. This anti-corruption policy is outlined in
pemangku kepentingan termasuk pemasok                 the Company’s Code of Conduct that mandates
dan rekan bisnis. Kebijakan ini telah dituangkan      comprehension and adherence from every
dalam Kode Etik Perusahaan yang harus dibaca          employee.
dan dipahami oleh setiap karyawan.

Jenis tindakan yang dinilai sebagai perilaku          Actions classified as corrupt behavior include
korupsi adalah penyalahgunaan kewenangan,             the misuse of authority, privileges or facilities
kesempatan atau sarana yang ada padanya               associated with one’s position; offering, accepting
karena jabatan atau kedudukannya; memberi,            and/or guaranteeing favors to government
menerima dan/atau menjanjikan sesuatu                 officials or other parties to influence decisions or
kepada pejabat pemerintah maupun pihak lain           actions that deviate from established guidelines
yang dapat mengikat mereka untuk melakukan            or standard procedures.
tindakan atau membuat keputusan di luar
panduan dan/atau prosedur yang lazim.


Sosialisasi Kebijakan Anti Korupsi [SEOJK 2.g.19.b]   Socialization of Anti-Corruption Policy
[ACGS B.4.5]
Kebijakan anti korupsi disosialisasikan bersama       The    anti-corruption    policy   is   socialized
dengan sosialisasi Kode Etik dan menjadi              concurrently with the dissemination of the
salah satu materi pada Program Onboarding             Code of Conduct as a fundamental section of
for New Hire. Secara berkala, kebijakan ini           the Onboarding Program for New Hires. Regular
diingatkan lagi melalui situs internal dan surat      reinforcement of this policy is done through
elektronik langsung kepada setiap karyawan.           both the internal website and personalized
Setiap karyawan harus menandatangani surat            emails to all staff members. It is mandatory for
pernyataan yang diperbaharui secara tahunan,          each employee to annually sign a statement
bahwa mereka telah membaca, memahami dan              reaffirming their understanding and commitment
menyetujui untuk menaati kebijakan anti korupsi       to comply with the anti-corruption policy outlined
sebagaimana telah ditetapkan di dalam Kode            in the Company’s Code of Conduct.
Etik Perusahaan. [SEOJK 2.g.19.a]


Mekanisme Pelaporan Pelanggaran                       Whistleblowing Mechanism
Pemangku kepentingan yang mengetahui                  Employees who become aware of any breaches
pelanggaran ataupun potensi pelanggaran atas          or possible breaches of the anti-corruption policy
kebijakan anti-korupsi, harus melaporkannya.          are required to report them. The reporting process
Prosedur pelaporan telah dirinci di dalam             is outlined in the WBS section found on pages 209
bagian WBS pada halaman 209 dalam Laporan             of this Annual Report.
Tahunan ini.




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       Corporate Governance




Penerapan Pedoman Anti Pencucian Uang Dan                            Implementation of Anti Money Laundering and
Pencegahan Pendanaan Terorisme                                       Prevention of Terrorism Financing Guidelines
Sejak tahun 2022, Perusahaan telah meningkatkan                      Since 2022, the Company has enhanced its
kepatuhan terhadap rezim Anti Pencucian Uang                         compliance with the Anti-Money Laundering
dan Pencegahan Pendanaan Terorisme (APUPPT)                          and Prevention of Terrorism Financing (APUPPT)
melalui pembaharuan Kebijakan dan Prosedur                           regulations by revising the Policy and Procedure of
Penjualan Produk Perusahaan dan Entitas Anak                         Product Sales of the Company and its Subsidiaries
untuk menyesuaikan dengan Peraturan PPATK                            to adhere to PPATK Regulation No.2 of 2021. This
No.2 tahun 2021 tentang Tata Cara Penyampaian                        regulation focuses on the submission procedures
Laporan Transaksi dan Laporan Transaksi                              for transaction reports and reports on suspicious
Keuangan Mencurigakan Melalui Aplikasi GoAML                         financial activities through the GoAML Application
bagi Penyedia Barang dan/atau Jasa Lain.                             for suppliers of goods and/or other services.

Pada tahun 2025, Entitas Anak berpartisipasi dalam                   In 2025, a Subsidiary participated in the Financial
Financial Integrity Rating on Money Laundering                       Integrity Rating on Money Laundering and
and Terorism Financing yang diadakan oleh                            Terrorism Financing carried out by PPATK. The
PPATK. Entitas Anak berhasil mendapatkan rating                      Subsidiary successfully obtained a ‘Quite Good’
‘Cukup Baik’. Ini menunjukkan menunjukkan                            rating. This shows the level of our commitment,
tingkat komitmen, implementasi dan kepatuhan                         implementation and compliance with the APUPPT
dari kami terhadap rezim APUPPT.                                     regime.




Penerapan atas Pedoman
Tata Kelola Perusahaan
Implementation of Corporate Governance Guidelines
[SEOJK 2.g.20] [ACGS C.2.6]




BOC dan Direksi setiap tahun melakukan tinjauan                      The BOC and the Directors conduct an annual
atas penerapan pedoman tata kelola Perusahaan                        review of the Company’s governance guidelines.
dan dalam Laporan Tahunan ini melaporkan                             In this Annual Report, we will outline the
penerapan atas pedoman tata kelola yang telah                        implementation of these governance guidelines
dilakukan oleh Perusahaan pada tahun 2025,                           carried out by the Company in 2025, as follows:
sebagai berikut:

      Prinsip
      Principle   1   Meningkatkan nilai penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
                      Improving the value of General Meeting of Shareholders (GMS) management




No. Rekomendasi
                                                       Implementasi                                                 Keterangan
    Recommendation                                     Implementation                                               Remark




  1 Cara atau prosedur teknis pengumpulan suara        Perusahaan telah melaksanakan rekomendasi atas               Terpenuhi
    (voting) baik secara terbuka maupun tertutup       pengumpulan suara (voting) secara terbuka yang               Complied
    yang mengedepankan independensi, dan               dilakukan dengan cara mengangkat tangan sesuai dengan
    kepentingan pemegang saham. [ACGS A.2.4]           instruksi pimpinan RUPS. Prosedur voting dapat dibaca
    Technical methods or procedures for open and       pada bagian Tata Tertib RUPS No.8 (b) pada halaman 145
    closed voting that prioritize independence and     Laporan Tahunan ini.
    interest of the shareholders.                      The Company has implemented a recommendation to
                                                       organize an open voting by raising hands according to
                                                       instructions from Chairperson of GMS. Voting procedures
                                                       can be read in the section of The Rules of GMS No.8 (b) on
                                                       page 145 in this Annual Report.




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No. Rekomendasi
                                                       Implementasi                                                    Keterangan
    Recommendation                                     Implementation                                                  Remark




 2 Anggota BOC dan Direksi hadir dalam RUPST.          Jumlah anggota BOC dan Direksi yang hadir pada RUPST            Dijelaskan
   [ACGS A.2.7]                                        tanggal 19 Juni 2025 masing-masing adalah sebanyak              Explained
   Members of the BOC and the Directors attend         50% dan 50%.
   the AGMS.                                           The number of the members of BOC and the Directors
                                                       which attended the AGMS dated June 19th, 2025, were 50%
                                                       and 50% respectively.


 3 ingkasan risalah RUPS tersedia dalam situs web      Perusahaan menyediakan Ringkasan Risalah RUPS dalam             Terpenuhi
   paling sedikit 1 tahun. [ACGS C.9.5]                situs web Perusahaan dalam bagian Investor, sub bagian          Complied
   A summary of minutes of GMS is available at         Tata Kelola Perusahaan.
   the website for at least 1 year.                    The Company provided a Summary of Minutes of GMS
                                                       at the Company’s website under Investor, sub-section
                                                       Corporate Governance.




   Prinsip
   Principle   2     Meningkatkan kualitas komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor
                     Improving the Public Listed Company Communication Quality with Shareholders or Investors




No. Rekomendasi
                                                       Implementasi                                                    Keterangan
    Recommendation                                     Implementation                                                  Remark




  1 Memiliki kebijakan komunikasi Perusahaan           Kebijakan Perusahaan dalam berkomunikasi dengan                 Terpenuhi
    Terbuka dengan pemegang saham atau                 pemegang saham atau investor yakni melalui:                     Complied
    investor. [ACGS C.7.3] [ACGS C.7.4]                a. Komunikasi tidak langsung melalui berita rilis (news
    To have a policy on communications between             release), keterbukaan informasi, siaran pers secara
    Public Company and shareholders and                    berkala dapat diperoleh oleh pemegang saham atau
    investors.                                             investor dengan cara:
                                                           •   Mengakses berita rilis (news release) dengan
                                                               berlangganan (subscribe) ke alamat email ricardo.
                                                               dharmawan@sinarmasland.com atau michael.
                                                               liputra@sinarmasland.com;
                                                           •   Mengakses keterbukaan informasi dan siaran pers
                                                               melalui situs BEI www.idx.co.id dan situs Perusahaan
                                                               www.sinarmasland.com dan www.dutapertiwi.com.
                                                       b. Komunikasi langsung kepada Komunitas Saham, serta
                                                           melalui conference call, forum pertemuan investor baik
                                                           dalam maupun luar negeri, paparan publik, road show.
                                                       The Company policy in communicating with shareholders
                                                       and investors are via:
                                                       a. Indirect Communication via news release, disclosure of
                                                           information, regular press release can be obtained by
                                                           shareholders or investors by:
                                                           •   Accessing news release by subscribing to ricardo.
                                                               dharmawan@sinarmasland.com             or    michael.
                                                               liputra@sinarmasland.com
                                                           •   Accessing disclosure of information and press
                                                               release via BEI site, www.idx.co.id and the
                                                               Company’s website www.sinarmasland.com and
                                                               www. dutapertiwi.com
                                                       b. Direct communication to the Stock Community, also
                                                           via conference calls, domestic and global investor
                                                           meeting forums, public exposes, roadshows.



 2 Mengungkapkan       kebijakan    komunikasi         Perusahaan telah menyediakan bahan materi presentasi            Terpenuhi
   Perusahaan Terbuka dalam situs web.                 dengan investor di situs Perusahaan untuk memberikan            Complied
   [ACGS C.9.2]                                        kesetaraan pada pemegang saham atau investor atas
   Disclose the communication policy of Public         pelaksanaan komunikasi dengan Perusahaan.
   Company on the website.                             The Company has made available materials of
                                                       presentation to investors on the Company’s website to
                                                       provide equality for shareholders and investors regarding
                                                       the implementation of communications with the Company.




                                                                                                   2025 ANNUAL REPORT               213
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      Prinsip
      Principle   3   Memperkuat keanggotaan dan komposisi BOC
                      Strengthen the membership and composition of the BOC




No. Rekomendasi
                                                         Implementasi                                                  Keterangan
    Recommendation                                       Implementation                                                Remark




  1 Penentuan       jumlah     anggota      BOC          Perusahaan telah memenuhi ketentuan yang berlaku bagi         Terpenuhi
    mempertimbangkan kondisi perusahaan.                 Perusahaan sebagai Perusahaan Terbuka sebagaimana             Complied
    Determination of the number of members of the        ditentukan dalam Pasal 20 POJK No.33/POJK.04/2014 yaitu
    BOC considering the Company’s conditions.            jumlah anggota Dewan Komisaris lebih dari 2 (dua) orang.
                                                         The Company has complied with the provision applicable
                                                         to the Company as Public Company as stipulated in Article
                                                         20 of POJK No.33/POJK.04/2014 which is more than 2 (two)
                                                         members of the BOC.



 2 Penentuan       komposisi     anggota     BOC         Komposisi anggota BOC Perusahaan telah memperhatikan          Terpenuhi
   memperhatikan        keberagaman      keahlian,       kebutuhan Perusahaan, 3 (tiga) di antara anggota BOC          Complied
   pengetahuan        dan    pengalaman     yang         telah berpengalaman dalam bidang industri real estate
   dibutuhkan.                                           selama lebih dari 25 (dua puluh lima) tahun, sedang 2 (dua)
   Determination of the composition of members           anggota Komisaris Independen merupakan akademisi di
   of the BOC considers the required variety of          bidang Ekonomi serta berpengalaman pelaksanaan tugas
   skills, knowledge and experience.                     pengawasan dan pemberian nasihat kepada Direksi.
                                                         The composition of the members of the BOC is in
                                                         consideration of the Company’s needs. Three members
                                                         have been experienced in the real estate industry for more
                                                         than 25 years, and 2 (two) Independent Commissioners
                                                         are academics in the field of Economic and has experience
                                                         in supervising the management policy and counselling the
                                                         Directors.




      Prinsip
      Principle   4   Meningkatkan kualitas pelaksanaan tugas dan tanggung jawab BOC
                      Improving the quality of duty and responsibility of the BOC




No. Rekomendasi
                                                         Implementasi                                                  Keterangan
    Recommendation                                       Implementation                                                Remark




  1 BOC mempunyai kebijakan penilaian sendiri            Dengan dibantu oleh NRC, BOC telah memiliki kebijakan         Terpenuhi
    untuk menilai kinerja BOC.                           penilaian sendiri. Hasil penilaian sendiri kemudian           Complied
    The BOC has a policy to self-assess the              disampaikan kepada NRC yang akan memberikan
    performance of the BOC.                              penilaian atas kinerja masing-masing anggota BOC.
                                                         [PUGKI 1.5.1.1]
                                                         Assisted by the NRC, the BOC has established its self-
                                                         assessment policy. Results from self-assessments are
                                                         submitted to the NRC, which will then evaluate the
                                                         performance of each member of the BOC.

 2 Kebijakan penilaian sendiri diungkapkan dalam         Informasi Kebijakan Penilaian Sendiri dapat ditemukan         Terpenuhi
   Laporan Tahunan.                                      pada halaman 173 Laporan Tahunan ini.                         Complied
   The self-assessment policy is reported in an          The information of self-assessment policy can be found at
   Annual Report.                                        pages 173 in this Annual Report.


 3 BOC mempunyai kebijakan pengunduran diri              Mengacu kepada AD Perusahaan, anggota BOC yang                Terpenuhi
   apabila terlibat dalam kejahatan keuangan.            tidak memenuhi syarat untuk menjadi anggota BOC yang          Complied
   The BOC has a policy of resignation in the event      disebutkan dalam AD termasuk di dalamnya adalah
   of involvement in any financial crimes.               terlibat kejahatan keuangan maka jabatannya sebagai
                                                         BOC akan batal demi hukum. Dalam hal anggota BOC
                                                         tersebut mengundurkan diri maka akan diputuskan melalui
                                                         mekanisme RUPS. [PUGKI 1.3.11]
                                                         As stipulated to the Company’s AoA, a member of the
                                                         BOC who is not eligible to become a member of the BOC
                                                         mentioned in the AoA is involved in a financial crime,
                                                         then his/her position as BOC shall be null and void. If the
                                                         member of the BOC resigns, it will be decided through the
                                                         GMS mechanism.




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                                                                                                                PT Duta Pertiwi Tbk




No. Rekomendasi
                                                        Implementasi                                                  Keterangan
    Recommendation                                      Implementation                                                Remark




 4 BOC atau NRC menyusun kebijakan suksesi              Saat ini, Perusahaan belum memiliki kebijakan suksesi         Dijelaskan
   dalam proses nominasi anggota Direksi.               dalam proses nominasi anggota Direksi.                        di halaman
   The BOC or the NRC sets out a provision of           Currently, the Company does not have a succession policy      171-172
   succession in the nomination process of a            in the nomination process of members of the Directors.        Explained on
   member of the Directors.                                                                                           page 171-172




   Prinsip
   Principle   5       Memperkuat keanggotaan dan komposisi Direksi
                       Strengthen the membership and composition of Directors




No. Rekomendasi
                                                        Implementasi                                                  Keterangan
    Recommendation                                      Implementation                                                Remark




  1 Penentuan       Jumlah      anggota       Direksi   Perusahaan telah memenuhi ketentuan yang berlaku bagi         Terpenuhi
    mempertimbangkan kondisi Perusahaan serta           Perusahaan sebagai Perusahaan Terbuka sebagaimana             Complied
    efektivitas dalam pengambilan keputusan.            ditentukan dalam Pasal 2 POJK No.33/POJK.04/2014 paling
    Determination of the number of members of the       kurang terdiri dari 2 (dua) orang anggota Direksi.
    Directors considering the Company’s conditions      The Company has complied with the provision applicable
    and effectiveness in the decision making.           to the Company as Public Company as stipulated in Article
                                                        2 of POJK No.33/POJK.04/2014 must consist of at least 2
                                                        (two) Directors.


 2 Penentuan       komposisi     anggota     Direksi    Komposisi      anggota      Direksi  Perusahaan     telah     Terpenuhi
   memperhatikan        keberagaman        keahlian,    memperhatikan kebutuhan diversifikasi bisnis Perusahaan.      Complied
   pengetahuan        dan     pengalaman       yang     Sebanyak 4 (empat) anggota Direksi telah berpengalaman
   dibutuhkan.                                          dalam bidang industri real estate. Semua anggota Direksi
   Determination of the composition of members          ini telah berpengalaman lebih dari 25 (dua puluh lima)
   of the Directors considers the required variety of   tahun dalam bidangnya masing-masing.
   skills, knowledge and experience.                    The composition of the members of the Directors is in
                                                        consideration of the Company’s business diversification
                                                        needs. Four members are experienced in the real estate
                                                        industry. All members of the Directors have more than 25
                                                        years of experience in their fields.



 3 Anggota Direksi yang membawahi bidang                Perusahaan telah memiliki 1 (satu) anggota Direksi yang       Terpenuhi
   akuntansi atau keuangan memiliki keahlian            membawahi bidang serta memiliki keahlian dan/atau             Complied
   dan/atau pengetahuan di bidang akuntansi.            pengetahuan lebih dari 25 (dua puluh lima) tahun di
   Members of the Directors in charge of                bidang akuntansi dan keuangan. Setiap penyampaian
   accounting and finance have skills and/or            Laporan Keuangan telah ditandatangani oleh Direktur
   knowledge in accounting.                             Utama dan anggota Direksi yang membawahi bidang
                                                        akuntansi dan keuangan.
                                                        The Company has 1 (one) Director who has the skills and/or
                                                        experience of more than 25 years in the field of accounting
                                                        and finance. Every submission of Financial Report has
                                                        been signed by the President Director and the Director in
                                                        supervision of accounting and finance.




                                                                                                  2025 ANNUAL REPORT                 215
Page 216
       Governansi Perusahaan
       Corporate Governance




      Prinsip
      Principle   6   Meningkatkan kualitas pelaksanaan tugas dan tanggung jawab Direksi
                      Improving the quality of duty and responsibility of the Directors




No. Rekomendasi
                                                          Implementasi                                                      Keterangan
    Recommendation                                        Implementation                                                    Remark




  1 Direksi mempunyai kebijakan penilaian sendiri         Dengan dibantu oleh NRC, Direksi telah memiliki kebijakan         Terpenuhi
    untuk menilai kinerja Direksi.                        penilaian sendiri. Hasil penilaian sendiri kemudian               Complied
    The Directors have a policy to self-assess the        disampaikan kepada NRC yang akan memberikan
    performance of the Directors.                         penilaian atas kinerja masing-masing anggota Direksi.
                                                          [PUGKI 1.2.1.1]
                                                          Assisted by the NRC, the Directors have established their self-
                                                          assessment policy. The results from the self-assessments
                                                          are submitted to the NRC, which will then evaluate the
                                                          performance of each member of the Directors.


 2 Kebijakan penilaian sendiri diungkapkan dalam          Informasi Kebijakan Penilaian Sendiri dapat ditemukan             Terpenuhi
   Laporan Tahunan.                                       halaman 168-169 pada Laporan Tahunan ini.                         Complied
   The self-assessment policy is reported in an           The information of self-assessment policy can be found at
   Annual Report.                                         pages 168-169 in this Annual Report.


 3 Direktur mempunyai kebijakan pengunduran               Mengacu kepada AD Perusahaan, anggota Direksi yang                Terpenuhi
   diri apabila terlibat dalam kejahatan keuangan.        tidak memenuhi syarat untuk menjadi anggota Direksi               Complied
   The Directors has a policy of resignation in the       yang disebutkan dalam AD termasuk di dalamnya adalah
   event of involvement in any financial crimes.          terlibat kejahatan keuangan maka jabatannya sebagai
                                                          Direksi akan batal demi hukum. Dalam hal anggota Direksi
                                                          tersebut mengundurkan diri maka akan diputuskan melalui
                                                          mekanisme RUPS. [PUGKI 1.1.9]
                                                          As stipulated to the Company’s AoA, a member of the
                                                          Directors who is not eligible to become a member of the
                                                          Directors mentioned in the AoA is involved in a financial
                                                          crime, then his/her position as Directors shall be null
                                                          and void. If the member of the Directors resigns, it will be
                                                          decided through the GMS mechanism.




      Prinsip
      Principle   7   Meningkatkan aspek tata kelola Perusahaan melalui partisipasi pemangku kepentingan
                      Improving Corporate governance aspect through stakeholder’s participation




No. Rekomendasi
                                                          Implementasi                                                      Keterangan
    Recommendation                                        Implementation                                                    Remark




  1 Memiliki kebijakan untuk mencegah terjadinya          Perusahaan telah memiliki kebijakan untuk mencegah                Terpenuhi
    Insider Trading. [SEOJK 2.g.15] [PUGKI 7.2.3]         terjadinya Insider Trading, sebagaimana yang tertuang             Complied
    To have a policy to prevent Insider Trading.          dalam Kode Etik Perusahaan No. HC-00.01 tanggal 28
                                                          Maret 2013. Setiap karyawan diwajibkan untuk menghindari
                                                          pengungkapan informasi Perusahaan yang bersifat
                                                          rahasia.
                                                          The Company has a policy to prevent insider trading, as
                                                          reflected in the Company’s Code of Conduct No. HC-00.01
                                                          dated March 28th, 2013. Every employee is obliged to avoid
                                                          disclosing classified Company information.

 2 Memiliki kebijakan Anti Korupsi dan Anti-Fraud.        Perusahaan, saat ini sudah memiliki kebijakan Anti Korupsi        Terpenuhi
   [SEOJK 2.g.19]                                         dan Anti-Fraud.                                                   Complied
   To have a policy of Anticorruption and Anti-           The Company has a policy of Anti-corruption and Anti-
   Fraud.                                                 Fraud.

 3 Memiliki kebijakan tentang seleksi dan                 Perusahaan, saat ini sudah memiliki kebijakan tentang             Terpenuhi
   peningkatan kemampuan pemasok dan                      seleksi pemasok atau vendor.                                      Complied
   vendor. [ACGS B.4.2]                                   The Company, currently has a policy regarding vendor
   To have a policy on the selection and capacity         selection.
   building of suppliers and vendors.




216          LAPORAN TAHUNAN 2025
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                                                                                                                    PT Duta Pertiwi Tbk




No. Rekomendasi
                                                        Implementasi                                                      Keterangan
    Recommendation                                      Implementation                                                    Remark




 4 Memiliki kebijakan pemenuhan hak-hak kreditur.       Perusahaan, saat ini sudah memiliki kebijakan untuk               Terpenuhi
   [ACGS B.4.6]                                         memenuhi hak-hak dari kreditur kami melalui Divisi                Complied
   To have a Policy on the fulfilment of creditors’     Corporate Finance yang mengatur dan mengelola
   rights.                                              pembayaran hak-hak kreditur kami.
                                                        The Company, currently has a policy to fulfil the rights of our
                                                        creditors through the Corporate Finance Division that sets out
                                                        and manages the rights of our creditors.


 5 Memiliki kebijakan whistleblowing         system.    Perusahaan telah menjalankan kebijakan whistleblowing             Terpenuhi
   [SEOJK 2.g.18.b] [ACGS B.7.2]                        system dengan menunjuk jasa pihak ketiga.                         Complied
   To have a whistleblower system.                      The    Company    has  successfully   implemented   a
                                                        whistleblowing system policy by engaging third-party
                                                        services.

 6 Memiliki Kebijakan pemberian insentif jangka         Perusahaan, saat ini belum memiliki kebijakan pemberian           Dijelaskan
   panjang Direksi dan Karyawan. [SEOJK 2.g.16]         insentif jangka panjang kepada Direksi dan Karyawan.              Explained
   [ACGS B.6.3]                                         Currently, the Company does not have a long-term
   To have a Policy on the granting of long-term        incentive policy for its directors and employees.
   incentives to the Directors and Employees.




   Prinsip
   Principle   8      Meningkatkan keterbukaan informasi
                      Improving the information disclosure




No. Rekomendasi
                                                        Implementasi                                                      Keterangan
    Recommendation                                      Implementation                                                    Remark




  1 Memanfaatkan        penggunaan      teknologi       Selain memperbaharui situs web Perusahaan secara rutin,           Terpenuhi
    informasi secara lebih luas selain situs web        kami juga aktif dalam berbagai media sosial sebagai media         Complied
    sebagai media keterbukaan informasi..               promosi produk. Selain itu, Perusahaan juga menggunakan
    To use information technology more advanced         sistem mailing-list sebagai media keterbukaan informasi
    than website as a medium of information             dan komunikasi kepada investor.
    disclosure.                                         Besides regular updates on the Company’s website, we are
                                                        also active in a variety of social media as a medium of
                                                        product promotion. In addition, we also use the mailing-
                                                        list system as a medium of information disclosure and
                                                        communication to investors.


 2 Laporan     Tahunan    Perusahaan     Terbuka        Laporan Tahunan Perusahaan tahun 2025 pada halaman                Terpenuhi
   mengungkapkan pemilik manfaat akhir dalam            78 & 80 telah mengungkapkan pemilik manfaat akhir dalam           Complied
   kepemilikan saham perusahaan, paling sedikit         kepemilikan saham Perusahaan paling sedikit 5%, selain
   5% selain pemegang saham utama dan                   pengungkapan pemilik manfaat akhir dalam kepemilikan
   pengendali.                                          saham Perusahaan melalui pemegang saham utama dan
   The Annual Reports of the Public Companies           pengendali.
   disclose the most current beneficial owners of       The Company’s 2025 Annual Report on page 78 & 80
   the Company’s shareholding, at least 5% other        has disclosed the ultimate beneficial owner in the share
   than major shareholders and controllers.             ownership of the Company at least 5%, other than the
                                                        disclosure of the ultimate beneficial owner via major
                                                        shareholders and controllers.




                                                                                                     2025 ANNUAL REPORT                217
Page 218
Tanggung
Jawab
Sosial dan
Lingkungan
Social and Enviromental Responsibility
Page 219
                                                                                      20
                                                                                      25

                                                                 Klaster Averon
                                                                 Kota Wisata • Cibubur




Dengan merujuk pada Surat Edaran OJK No.16/      Referring to Circular Letter of OJK No.16/
SEOJK.04/2021 tentang Bentuk dan Isi Laporan     SEOJK.04/2021 on Forms and Content of
Tahunan, pada bagian Uraian Isi Laporan          Annual Report, on the part of Description of
Tahunan huruf h (“SEOJK No.16), Perusahaan       the Contents of Annual Report alphabeth
telah mengungkapkan informasi mengenai           (“SEOJK No.16), the Company has disclosed
Tanggung Jawab Sosial dan Lingkungan ke          information on Social and Environmental
dalam Laporan Keberlanjutan Perusahaan           Responsibilities to the Company Sustainability
Tahun Buku 2025, yang disajikan secara           Report for 2025, presented separately
terpisah dari Laporan Tahunan ini. Laporan       from this Annual Report. Our Sustainability
Keberlanjutan kami disampaikan bersamaan         Report will be submitted together with the
dengan penyampaian Laporan Tahunan ini.          submission of this Annual Report.

Pembaca yang hendak mendapatkan                  Readers may find information on sustainable
informasi terkait strategi keberlanjutan, tata   strategy,       sustainable       governance,
kelola keberlanjutan, kinerja keberlanjutan      sustainable performance and others in 2025
dan lain-lain, dapat membaca Laporan             Sustainability Report of the Company that is
Keberlanjutan Perusahaan Tahun Buku 2025,        an integral part of this Annual Report.
yang merupakan bagian tak terpisahkan dari
Laporan Tahunan ini. [ACGS B.4.7]
Page 220
      Tanggung Jawab Sosial dan Lingkungan
      Social and Enviromental Responsibility




                 Klaster Altara
                 Grand Wisata • Bekasi




220       LAPORAN TAHUNAN 2025
Page 221
                                                                                                                                 PT Duta Pertiwi Tbk




Surat Pernyataan Anggota
Dewan Komisaris dan Direksi
Tentang Tanggung Jawab
Laporan Tahunan Tahun Buku
2025 PT Duta Pertiwi Tbk                                                                                                     [SEOJK 2.j] [ACGS C.8.3]


The Board of Commissioners’ and Directors’ Statement of
Responsibilities for the 2025 Annual Report of PT Duta Pertiwi Tbk

Kami yang bertanda tangan di bawah ini                                         We the undersigned hereby declare that all
menyatakan bahwa semua informasi dalam                                         the information in the 2025 Annual Report
Laporan Tahunan PT Duta Pertiwi Tbk tahun                                      of PT Duta Pertiwi Tbk has been presented
buku 2025 telah dimuat secara lengkap dan                                      completely in its entirety and that we assume
bertanggung jawab penuh atas kebenaran                                         full responsibility for the accuracy of the
isi Laporan Tahunan Perusahaan. Demikian                                       content of the Company’s Annual Report. This
pernyataan ini dibuat dengan sebenarnya.                                       statement is made truthfully.


                                                                Jakarta, 1 April 2026

                                                          Dewan Komisaris
                                                       Board of Commissioners




                                              Muktar Widjaja                                                Franciscus Xaverius R.D
                                      Komisaris Utama • President Commissioner                   Wakil Komisaris Utama • Vice President Commissioner




        Prof. DR. Teddy Pawitra                                Prof. DR. Susiyati Bambang Hirawan
 Komisaris Independen • Independent Commissioner                 Komisaris Independen • Independent Commissioner




                                                                     Direksi
                                                                    Directors




                                                 Teky Mailoa                                                     Lie Jani Harjanto
                                         Direktur Utama • President Director                            Wakil Direktur Utama • Vice President Director




        Hongky Jeffry Nantung                                                  Handoko Wibowo
                Direktur • Director                                               Direktur • Director




                                                                                                                 2025 ANNUAL REPORT                      221
Page 222
 Richmond
 Kota Wisata • Cibubur




Lampiran
Appendix
Page 223
20
25
Page 224
       Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
       Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Referensi Surat Edaran OJK
No.16/SEOJK.04/2021
Reference of OJK Circular Letter No.16/SEOJK.04/2021
[SEOJK 2.e.18]




No. Materi dan Penjelasan                                            Subjects and Explanation                                         Halaman
                                                                                                                                       Page

 I.   Ikhtisar Data Keuangan Penting                                 Highlights of Key Financial Information

 1.   Ikhtisar Data Keuangan Penting memuat informasi keuangan       The Highlights of Key Financial Information section presented
      yang disajikan dalam bentuk perbandingan selama 3 (tiga)       financial data in a comparative format for three fiscal years.
      tahun buku atau sejak memulai usahanya jika Emiten atau        If the Issuer or Listed Company had been in operation for less
      Perusahaan Publik tersebut menjalankan kegiatan usahanya       than three years, it would include data since the business
      kurang dari 3 (tiga) tahun, paling sedikit memuat:             began and should contain the following information:
      a. Pendapatan/penjualan.                                       a. Sales/revenue.
      b. Laba bruto.                                                 b. Gross profit (loss).
      c. Laba (rugi).                                                c. Profit (loss).
      d. Jumlah laba (rugi) yang dapat diatribusikan kepada          d. Net profit attributable to owners of the parent and non-
          pemilik entitas induk dan kepentingan non pengendali.           controlling interest.
      e. Total laba (rugi) komprehensif.                             e. Total comprehensive profit (loss).
      f. Jumlah laba (rugi) komprehensif yang dapat diatribusikan    f. Net comprehensive profit attributable to owners of the
          kepada pemilik entitas induk dan kepentingan non                parent and non-controlling interest.                          2-3
          pengendali.                                                                                                                  12-13
      g. Laba (rugi) per saham.                                      g. Profit (loss) per share.
      h. Jumlah aset.                                                h. Total assets.
      i. Jumlah liabilitas.                                          i. Total liabilities.
      j. Jumlah ekuitas.                                             j. Total equity.
      k. Rasio laba (rugi) terhadap jumlah aset.                     k. Profit (loss) ratio to total assets.
      l. Rasio laba (rugi) terhadap ekuitas.                         l. Profit (loss) ratio to equity.
      m. Rasio laba (rugi) terhadap pendapatan/penjualan.            m. Profit (loss) ratio to revenue.
      n. Rasio lancar.                                               n. Current ratio.
      o. Rasio liabilitas terhadap ekuitas.                          o. Liabilities-to-equity ratio.
      p. Rasio liabilitas terhadap jumlah aset.                      p. Liabilities-to-total assets ratio.
      q. Informasi dan rasio keuangan lainnya yang relevan dengan    q. Other relevant financial ratio and information about the
          Emiten atau Perusahaan Publik dan jenis industrinya.          Issuer or Listed Company or its industry.

 II. Informasi Saham                                                 Shares Information
     Informasi saham (jika ada) paling sedikit memuat:               Shares information (if any) shall include at least:

 1.   Saham yang telah diterbitkan untuk setiap masa triwulan        Shares issued for every quarter (if any) presented in the
      (jika ada) yang disajikan dalam bentuk perbandingan            comparison of latest 2 (two) fiscal years (if any), should at
      selama 2 (dua) tahun buku terakhir, paling sedikit meliputi:   least include:
      a. Jumlah saham yang beredar.                                  a. Number of issued shares.
      b. Kapitalisasi pasar berdasarkan harga pada Bursa Efek        b. Market capitalization based on the price on the Stock
          tempat saham ditempatkan.                                     Exchange where shares are listed.                              14-15
      c. Harga saham tertinggi, terendah dan penutupan               c. Highest, lowest and closing price based on the price on
          berdasarkan harga pada Bursa Efek tempat saham                the Stock Exchange where shares are listed.
          dicatatkan.
      d. Volume perdagangan pada Bursa Efek tempat saham             d. Transaction volume on the Stock Exchange where
          dicatatkan.                                                   shares are listed.

 2. Dalam hal terjadi Aksi Korporasi, seperti pemecahan saham        In case of Corporate Actions, such as stock split, reverse
    (stock split), penggabungan saham (reverse stock), dividen       stock, share dividend, bonus shares and change in nominal
    saham, saham bonus dan perubahan nilai nominal saham,            value, issuance of convertible securities, and capital
    penerbitan efek konversi, serta penambahan dan pengurangan       issuance or withdrawal, the shares information referred to
    modal informasi saham sebagaimana dimaksud pada angka 1          in point 1 should have explanations which included at least:
    ditambahkan penjelasan paling sedikit mengenai:
    a. Tanggal pelaksanaan aksi korporasi.                           a. The execution date of corporate action.                         15
    b. Rasio pemecahan saham, penggabungan saham,                    b. Ratio of stock split, reverse stock, share dividend, bonus
        dividen saham, saham bonus, jumlah efek konversi yang           share, number of the issued convertible securities and
        diterbitkan dan perubahan nilai nominal saham.                  change in nominal value.
    c. Jumlah saham beredar sebelum dan sesudah aksi                 c. Shares volume issued before and after corporate
        korporasi.                                                      actions.
    d. Jumlah efek konversi yang dilaksanakan (jika ada).            d. The number of executed convertible securities (if any).
    e. Harga saham sebelum dan sesudah aksi korporasi.               e. Shares price before and after corporate actions.

 3. Dalam hal terjadi penghentian sementara perdagangan              In case of suspended stock trading and/or delisting in the
    saham dan/atau penghapusan pencatatan saham dalam                fiscal year, the Issuer or Listed Company should explain the
    tahun buku, Emiten atau Perusahaan Publik menjelaskan            reasons for such suspension and/or delisting.                      15
    alasan penghentian sementara perdagangan saham dan/
    atau pembatalan pencatatan saham tersebut.

 4. Dalam hal penghentian sementara perdagangan saham                In case of stock suspension as referred to point 3 and/
    (suspension) sebagaimana dimaksud pada angka 3) dan/             or delisting process was still in progress at the end of
    atau proses pembatalan pencatatan saham (delisting) masih        Annual Report period, the Issuer or Listed Company should
    berlangsung hingga akhir periode Laporan Tahunan, Emiten         explain the actions of the Company to resolve such stock           15
    atau Perusahaan Publik menjelaskan tindakan yang dilakukan       suspension and/or delisting.
    untuk menyelesaikan penghentian sementara perdagangan
    saham dan/atau penghapusan pencatatan saham tersebut.




224         LAPORAN TAHUNAN 2025
Page 225
                                                                                                                 PT Duta Pertiwi Tbk




III. Laporan Direksi                                             Report of The Directors
     Laporan Direksi paling sedikit memuat:                      The Directors’ Report shall include at least:


1. Kinerja Emiten atau Perusahaan Publik, paling sedikit         The Issuer’s or Listed Company’s Performance, should at
   meliputi:                                                     least includes:
   a. Strategi dan kebijakan strategis Emiten atau Perusahaan    a. Strategy and strategic policy of Issuer or Listed
      Publik.                                                       Company.
   b. Peranan Direksi dalam perumusan strategi dan               b. The Directors’ role in establishing strategy and
      kebijakan strategis Emiten atau Perusahaan Publik.            strategic policy of the Issuer or Listed Company.          18-23
   c. Proses yang dilakukan Direksi untuk memastikan             c. Process implemented by the Directors to ensure the
      implementasi strategi Emiten atau Perusahaan Publik.          implementation of the strategy of the Issuer or Listed
                                                                    Company.
   d. Perbandingan antara hasil yang dicapai dengan yang         d. Comparison between achievement of results and
      ditargetkan.                                                  targets.
   e. Kendala yang dihadapi Emiten atau Perusahaan Publik.       e. Challenges faced by the Issuer or Listed Company.

2. Gambaran tentang prospek usaha.                               An overview of business prospects.                            23-24


3. Penerapan Tata Kelola Emiten atau Perusahaan Publik.          Implementation of Good Corporate Governance by the            24-25
                                                                 Issuer or Listed Company.


IV. Laporan Dewan Komisaris                                      Report of the Board of Commissioners
    Laporan Dewan Komisaris paling sedikit memuat:               Report of the Board of Commissioner shall include at least:


1. Penilaian terhadap Kinerja Direksi mengenai pengelolaan       Assessment on the Performance of the Directors
   Emiten atau Perusahaan Publik, termasuk pengawasan            in managing the Company, including the Board of
   Dewan Komisaris dalam perumusan dan implementasi              Commissioners’ supervision in the Directors’ establishing     27-29
   strategi Emiten atau Perusahaan Publik yang dilakukan oleh    and implementing strategy of the Issuer or Listed
   Direksi.                                                      Company.


2. Pandangan atas Prospek Usaha Emiten atau Perusahaan           Perspectives on the Business Prospects of Issuers or Public   29-30
   Publik yang disusun oleh Direksi.                             Companies prepared by the Board of Directors.

3. Pandangan atas Penerapan Tata Kelola Emiten atau              View on the Implementation of Issuer’s or Listed              30-31
   Perusahaan Publik.                                            Company’s Governance.


V. Profil Emiten atau Perusahaan Publik                          Company Profile
   Profil Emiten atau Perusahaan Publik paling sedikit memuat:   Profile of Issuer or Listed Company shall include at least:


1. Nama Emiten atau Perusahaan Publik termasuk apabila           Name of the Issuer or Listed Company, including should
   terdapat perubahan nama, alasan perubahan dan tanggal         there be a change of name, the reason for the change           38
   efektif perubahan nama pada tahun buku.                       and the effective date of the name change in the fiscal
                                                                 year.


2. Akses terhadap Emiten atau Perusahaan Publik termasuk         Access to the Issuer or Listed Company including branch
   kantor cabang atau kantor perwakilan yang memungkinkan        office or representative office that allowed the public to
   masyarakat dapat memperoleh informasi mengenai                obtain information about the Issuer or Listed Company,
   Emiten atau Perusahaan Publik, meliputi:                      including:                                                     38
   a. Alamat.                                                    a. Address.
   b. Nomor telepon.                                             b. Phone number.
   c. Alamat surat elektronik.                                   c. E-mail address.
   d. Alamat Situs Web.                                          d. Website address.


3. Riwayat singkat Emiten atau Perusahaan Publik.                Brief history of Issuer or Listed Company.                     39


4. Visi dan misi Emiten atau Perusahaan Publik, serta budaya     Vision and mission of the Issuer or Listed Company and        41-42
   perusahaan atau nilai-nilai perusahaan.                       corporate culture or values.


5. Kegiatan Usaha menurut anggaran dasar terakhir, kegiatan      Business Activities according to the latest articles of
   usaha yang dijalankan pada tahun buku, serta jenis barang     association, business activities carried on in the fiscal      43
   dan/atau jasa yang dihasilkan.                                year, and type of products and/or services provided.


6. Wilayah Operasional Emiten atau Perusahaan Publik.            Operational areas of Issuers or public companies referred
   Wilayah operasional merupakan wilayah atau daerah             to the locations or sectors where operational activities       44
   pelaksanaan kegiatan operasional atau jangkauan dari          were conducted, encompassing the full range of the
   kegiatan operasional perusahaan.                              company’s operations.


7. Struktur Organisasi Emiten atau Perusahaan Publik dalam       Organizational Structure of Issuer or Listed Company in
   bentuk bagan, paling sedikit sampai dengan struktur 1         the form of a chart, giving the names and titles and at
   (satu) tingkat di bawah Direksi termasuk komite di bawah      least up to 1 (one) level below the Directors, including       55
   Direksi (jika ada) dan komite di bawah Dewan Komisaris,       committees under the Directors (if any) and committees
   disertai dengan nama dan jabatan.                             under the Board of Commissioners.


8. Daftar keanggotaan asosiasi industri baik dalam skala         Lists of membership in industry-related associations,
   nasional maupun internasional yang berkaitan dengan           national and international, related to the sustainable         56
   penerapan keuangan berkelanjutan.                             finance implementation.




                                                                                                  2025 ANNUAL REPORT             225
Page 226
      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




9. Profil Direksi, paling sedikit memuat:                        Profile of the Directors, at least includes:
   a. Nama dan jabatan yang sesuai dengan tugas dan              a. Name and position in accordance with the duties and
      tanggung jawab.                                               responsibilities.
   b. Foto terbaru.                                              b. Latest picture.
   c. Usia.                                                      c. Age.
   d. Kewarganegaraan.                                           d. Citizenship.
   e. Riwayat pendidikan dan/atau sertifikasi.                   e. Educational history and/or certification.
   f. Riwayat jabatan, meliputi informasi:                       f. Work experience, includes:
      1) dasar       hukum       penunjukan sebagai    anggota      1) legal basis of appointment of Directors’ members in the
           Direksi pada Emiten atau Perusahaan Publik yang               Issuer or Listed Company.
           bersangkutan.                                            2) concurrent position, both as members of the Directors,
      2) rangkap jabatan, baik sebagai anggota Direksi,                  members of the Board of Commissioners and/or
           anggota Dewan Komisaris dan/atau anggota komite               members of the committee as well as other position,          57-61
           serta jabatan lainnya baik di dalam maupun di luar            whether the position is within or outside of the Issuer or
           Emiten atau Perusahaan Publik.                                Listed Company.
      3) pengalaman kerja beserta periode waktunya baik di          3) work experience and duration of employment, both
           dalam maupun di luar Emiten atau Perusahaan Publik.           within and outside of the Issuer or Listed Company.
   g. Hubungan afiliasi dengan anggota Direksi lainnya,          g. Affiliate relationships with another member of the
      anggota Dewan Komisaris dan pemegang saham utama              Directors, Board of Commissioners’ members and ultimate
      (jika ada) meliputi nama pihak yang terafiliasi.              shareholders (if any) including the name of affiliated
   h. Perubahan komposisi anggota Direksi dan alasan                parties.
      perubahannya. Dalam hal tidak terdapat perubahan           h. Changes in the Composition of the Directors’ Members and
      komposisi anggota Direksi, maka diungkapkan mengenai          the reason for such changes. Should there be no change
      hal tersebut.                                                 in the composition of the members of the Directors, this
                                                                    matter should be disclosed.

10. Profil Dewan Komisaris, paling sedikit memuat:               Profile of the Board of Commissioners, at least includes:
    a. Nama dan jabatan yang sesuai dengan tugas dan             a. Name and position in accordance with the duties and
       tanggung .                                                   responsibilities.
    b. Foto terbaru.                                             b. Latest picture.
    c. Usia.                                                     c. Age.
    d. Kewarganegaraan.                                          d. Citizenship.
    e. Riwayat pendidikan dan/atau sertifikasi.                  e. Educational history and/or certification.
    f. Riwayat jabatan, meliputi informasi:                      f. Work experience, includes:
       1) dasar hukum pengangkatan sebagai anggota                  1) legal basis for the appointment of Board
            Dewan Komisaris.                                             of Commissioners’ members excluding the
                                                                         Independent Commissioner in the Issuer or Listed
                                                                         Company concerned.
      2) dasar hukum pengangkatan pertama kali sebagai              2) legal basis for the appointment of Board of
          anggota Dewan Komisaris yang merupakan                         Commissioners’       members         as   Independent
          Komisaris Independen pada Emiten atau Perusahaan               Commissioner in the Issuer or Listed Company
          Publik yang bersangkutan.                                      concerned.
      3) rangkap jabatan, baik sebagai anggota Dewan                3) concurrent position, both as members of the Board
          Komisaris, anggota Direksi dan/atau anggota komite             of Commissioners, members of the Directors and/or 62-68
          serta jabatan lainnya baik di dalam maupun di luar             members of the committee as well as other position,
          Emiten atau Perusahaan Publik.                                 whether the position is within or outside of the Issuer
      4) pengalaman kerja beserta periode waktunya baik                  or Listed Company.
          di dalam maupun di luar Emiten atau Perusahaan            4) work experience as well as the working period both
          Publik.                                                        inside or outside the Issuer or Listed Company.
   g. Hubungan afiliasi dengan anggota Dewan Komisaris           g. Affiliate relationships with another member of the Board
      lainnya, pemegang saham utama dan pengendali                  of Commissioners’ members, majority and controlling
      baik langsung maupun tidak langsung sampai kepada             shareholders, both direct and indirectly, to the individual
      pemilik individu, meliputi nama pihak yang terafiliasi.       owners, including names of the affiliates.
   h. Pernyataan independensi Komisaris Independen dalam         h. Statement        of   Independence         of  Independent
      hal Komisaris Independen telah menjabat lebih dari 2          Commissioner in the event that the Independent
      (dua) periode.                                                Commissioner already served more than 2 (two)
   i. Perubahan komposisi anggota Dewan Komisaris                   periods.
      dan alasan perubahannya. Dalam hal tidak terdapat          i. Changes in the Composition of the Board of
      perubahan komposisi anggota Dewan Komisaris, maka             Commissioners’ Members and the reason for such
      diungkapkan mengenai hal tersebut.                            changes. Should there be no change in the composition
                                                                    of the members of the Board of Commissioners, this
                                                                    matter should be disclosed.

11. Dalam hal terdapat perubahan susunan anggota                 Should there be changes to the Board of Directors or the
    Direksi dan/atau anggota Dewan Komisaris yang terjadi        Board of Commissioners after the financial year ended but
    setelah tahun buku berakhir sampai dengan batas              before submission of the Annual Report, the report would
    waktu penyampaian Laporan Tahunan, susunan yang              reflect the last known composition prior to those changes.           57, 62
    dicantumkan dalam Laporan Tahunan adalah susunan
    anggota Direksi dan/atau anggota Dewan Komisaris yang
    terakhir dan sebelumnya.

12. Jumlah Karyawan menurut jenis kelamin, jabatan, usia,        The number of Employees categorized based on gender,
    tingkat pendidikan dan status ketenagakerjaan (tetap/        position, age, educational level and work status (permanent/ 74-75
    kontrak) dalam tahun buku.                                   contract) in the fiscal year.

13. Nama Pemegang Saham dan persentase kepemilikan               The names of Shareholders and percentage of ownership
    pada awal dan akhir tahun buku, yang terdiri dari:           at the start and end of the financial year, consisting of:
    a. Pemegang saham yang memiliki 5% (lima persen) atau        a. Shareholders owning 5% (five percent) or more shares of
       lebih saham Emiten atau Perusahaan Publik.                    the Issuer or Listed Company.
    b. Anggota Direksi dan anggota Dewan Komisaris yang          b. Member of the Directors and Board of Commissioners                76-79
       memiliki saham Emiten atau Perusahaan Publik.                 holding shares of the Issuer or Listed Company.
    c. Kelompok pemegang saham masyarakat, yaitu                 c. Public shareholders, a group of shareholders who each
       kelompok pemegang saham yang masing-masing                    owned less than 5% (five percent) of the shares of Issuer
       memiliki kurang dari 5% (lima persen) saham Emiten            or Listed Company.
       atau Perusahaan Publik.


14. Persentase kepemilikan tidak langsung atas saham Emiten      The percentage of shares indirect ownership in the Issuer or
    atau Perusahaan Publik oleh anggota Direksi dan anggota      Public Company by Board of Directors and Commissioners
    Dewan Komisaris pada awal dan akhir tahun buku, termasuk     members, at the start and end of the financial year, should
    informasi mengenai pemegang saham yang terdaftar             include details about registered shareholders related to this         77
    dalam daftar pemegang saham untuk kepentingan                indirect ownership.
    kepemilikan tidak langsung anggota Direksi dan anggota
    Dewan Komisaris.




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15. Jumlah pemegang saham dan persentase kepemilikan per         The number of shareholders and the percentage of
    akhir tahun buku berdasarkan klasifikasi:                    ownership as of the end of fiscal year based on the
                                                                 classification:
     a.   Kepemilikan institusi lokal.                           a. Local institution ownership.                                   77
     b.   Kepemilikan institusi asing.                           b. Foreign institution ownership.
     c.   Kepemilikan individu lokal.                            c. Local individual ownership.
     d.   Kepemilikan individu asing.                            d. Foreign individual ownership.

16. Informasi mengenai Pemegang Saham Utama dan                  Information on the Major and Controlling Shareholders of
    Pengendali Emiten atau Perusahaan Publik, baik langsung      the Issuer or Listed Company, either directly or indirectly, to   78
    maupun tidak langsung, sampai kepada pemilik individu,       the individual owners, presented in the form of schemes or
    yang disajikan dalam bentuk skema atau bagan.                charts.


17. Nama Entitas Anak, Perusahaan Asosiasi, Perusahaan           Name of Subsidiaries, Associates, Joint Venture Company
    Ventura Bersama dimana Emiten atau Perusahaan Publik         in which the Issuer or Listed Company had joint controlled
    memiliki pengendalian bersama entitas (jika ada), beserta    entities (if any), along with shareholding percentage, line of
    persentase kepemilikan saham, bidang usaha, total aset       business and status of such subsidiaries, associates, joint
    dan status operasi entitas anak, perusahaan asosiasi,        venture company.                                               80-85
    perusahaan ventura bersama tersebut.

     Untuk entitas anak, ditambahkan informasi mengenai          For subsidiaries, address should be attached.
     alamat entitas anak tersebut.


18. Kronologi Pencatatan Saham, jumlah saham, nilai nominal      Chronology of Share Listing, number of shares, nominal
    dan harga penawaran dari awal pencatatan hingga akhir        value and the offering price from the beginning of listing
    tahun buku serta nama Bursa Efek di mana saham Emiten        until the end of fiscal year and name of the stock exchange
    atau Perusahaan Publik dicatatkan, termasuk pemecahan        where the Issuer’s or Listed Company’s share was listed,          86
    saham (stock split), penggabungan saham (reverse             including stock split, reverse stock, stock dividend, stock
    stock), dividen saham, saham bonus dan perubahan nilai       bonus and changes in nominal stock value, executed
    nominal saham, pelaksanaan efek konversi, pelaksanaan        convertible securities, completed capital addition and
    penambahan dan pengurangan modal (jika ada).                 withdrawal (if any).


19. Kronologi pencatatan Efek lainnya selain Efek sebagaimana    Chronology of other Securities listing other than Securities
    dimaksud pada angka 18, yang belum jatuh tempo paling        referred to in point 18, that had not been due, which at least
    sedikit memuat nama Efek, tahun penerbitan, tingkat suku     included the name of Securities, year of issuance, interest/      86
    bunga/imbal hasil, tanggal jatuh tempo, nilai penawaran      return rate, maturity date, offering value and Securities
    dan peringkat Efek (jika ada).                               rating (if any).

20. Informasi Penggunaan Jasa Akuntan Publik (AP) dan Kantor     Information on the Service Rendered by Public Accountants
    Akuntan Publik (KAP) beserta jaringan/asosiasi/aliansinya    (AP) and Public Accounting Firms (KAP) and their networks/
    meliputi:                                                    associations/allies, including:
    a. Nama dan alamat.                                          a. Name and address.
    b. Periode penugasan.                                        b. Assignment period.
    c. Informasi jasa audit dan/atau non audit yang diberikan.   c. Information on audit and/or non-audit services
    d. Biaya jasa (fee) audit dan/atau non audit untuk masing-       rendered.                                                     87
        masing penugasan yang diberikan selama tahun buku.       d. Audit and/or non-audit fees for each assignment given
    e. Dalam hal AP dan KAP beserta jaringan/asosiasi/               during the financial year.
        aliansinya, yang ditunjuk tidak memberikan jasa non      e. In the event that AP and KAP and their network/
        audit, maka diungkapkan mengenai informasi tersebut.         association/alliance, which are appointed do not
                                                                     provide non-audit services, then the information is
                                                                     disclosed.

21. Nama dan alamat Lembaga dan/atau Profesi Penunjang           Name and address of Capital Market Institutions and/or
    Pasar Modal selain AP dan KAP.                               Supporting Professions other than AP and KAP.                     88



VI. Analisa dan Pembahasan Manajemen                             Management Discussion and Analysis


1.   Tinjauan operasi per segmen operasi sesuai dengan jenis     Operational review per business segment in accordance
     industri Emiten atau Perusahaan Publik, paling sedikit      with the type of industry of the Issuer or Listed Company,
     mengenai:                                                   contained at least:
     a. Produksi, yang meliputi proses, kapasitas dan            a. Production, which included the process, capacity and 102-111
         perkembangannya.                                           development.
     b. Pendapatan/penjualan.                                    b. Revenue/sales.
     c. Profitabilitas.                                          c. Profitability.


2. Kinerja     keuangan    komprehensif      yang    mencakup    Comprehensive financial performance analysis which
   perbandingan kinerja keuangan dalam 2 (dua) tahun buku        included a comparison between the last 2 (two) fiscal year,
   terakhir, penjelasan tentang penyebab adanya perubahan        explanation about the cause of changes and the impact,
   dan dampak perubahan tersebut, paling sedikit mengenai:       among others concerning:
   a. Aset lancar, aset tidak lancar dan total aset;
   b. Liabilitas jangka pendek, liabilitas jangka panjang dan    a. Current assets, non-current assets and total assets.
      total liabilitas.                                          b. Short-term liabilities, long-term liabilities and total 112-129
   c. Ekuitas.                                                      liabilities.
   d. Pendapatan/penjualan, beban, laba (rugi), penghasilan
      komprehensif lain dan total laba (rugi) komprehensif.      c. Equity.
   e. Arus kas.                                                  d. Revenue/sales,    expense,   profit/loss, other
                                                                    comprehensive income and total of comprehensive
                                                                    income/loss.
                                                                 e. Cash flow.

3. Kemampuan Membayar Utang              dengan   menyajikan     Ability to Pay Debt by presenting relevant ratio calculation.
   perhitungan rasio yang relevan.                                                                                                 130


4. Tingkat Kolektibilitas Piutang Emiten atau Perusahaan         The Collectability level of the Issuer or Listed Company by       130
   Publik dengan menyajikan perhitungan rasio yang relevan.      presenting relevant ratio calculation.




                                                                                                  2025 ANNUAL REPORT                227
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      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




6. Bahasan mengenai Ikatan yang Material untuk Investasi                  Discussion on Material Bond for the Investment of Capital
   Barang Modal dengan penjelasan paling sedikit meliputi:                Goods with description that included at least:
   a. Tujuan dari ikatan tersebut.                                        a. The purpose of the bond.
   b. Sumber dana yang diharapkan untuk memenuhi ikatan                   b. Source of funds expected to fulfill the bond.
      tersebut.                                                           c. Currency of denomination.                                      131
   c. Mata uang yang menjadi denominasi.                                  d. Steps taken by the Issuer or Listed Company to protect
   d. Langkah yang direncanakan Emiten atau Perusahaan                       the risk against the position of related foreign currency.
      Publik untuk melindungi risiko dari posisi mata uang
      asing yang terkait.


5. Struktur Modal (capital structure) dan kebijakan                       Capital Structure and management policy on such capital
   manajemen atas struktur modal (capital structure)                      structure with the basis for determining such policy.             130
   tersebut disertai dasar penentuan kebijakan dimaksud.


7.   Bahasan mengenai Investasi Barang Modal yang Direalisasikan          Discussion on Capital Goods Investment Realized in the last
     dalam tahun buku terakhir, paling sedikit meliputi:                  fiscal year, including:
     a. Jenis investasi barang modal.                                     a. Type of capital goods investment.                              131
     b. Tujuan investasi barang modal.                                    b. Objective of capital goods investment.
     c. Nilai investasi barang modal yang dikeluarkan.                    c. The investment value of capital goods.

8. Informasi dan Fakta Material yang Terjadi setelah Tanggal              Significant Information and Fact Subsequent to the                131
   Laporan Akuntan (jika ada).                                            Accountant’s Report Date (if any).

9. Prospek usaha dari Emiten atau Perusahaan Publik dikaitkan             Business prospects of the Issuer of Listed Company in
   dengan kondisi industri, ekonomi secara umum dan pasar                 connection with the condition of industry, economy                132
   internasional disertai data pendukung kuantitatif dari                 in general and the international market supported by
   sumber data yang layak dipercaya.                                      quantitative data from a reliable data source.


10. Perbandingan antara Target/Proyeksi pada awal tahun                   Comparison between Target/Projection in the beginning
    buku dengan hasil yang dicapai (realisasi), mengenai:                 of fiscal year and the achieved result (realization), which
                                                                          including:
     a.   Pendapatan/penjualan.                                           a. Revenue/sales.                                           132-133
     b.   Laba (rugi).                                                    b. Income (loss).
     c.   Struktur modal (capital structure).                             c. Capital structure.
     d.   Hal lainnya yang dianggap penting bagi Emiten atau              d. Other matters considered important for the Issuer or
          Perusahaan Publik.                                                  Listed Company.

11. Target/Proyeksi yang ingin dicapai Emiten atau Perusahaan             Issuer’s or Listed Company’s target/projection in 1 (one)
    Publik untuk 1 (satu) tahun mendatang, mengenai:                      year, including:
    a. Pendapatan/penjualan.                                              a. Revenue/sales.
    b. Laba (rugi).                                                       b. Income (loss).
    c. Struktur modal (capital structure).                                c. Capital structure.                                             133
    d. Kebijakan dividen.                                                 d. Dividend policy.
    e. Hal lainnya yang dianggap penting bagi Emiten atau                 e. Other matters that considered important for the Issuer
       Perusahaan Publik.                                                     or Listed Company.

12. Aspek Pemasaran atas barang dan/atau jasa Emiten                      Marketing Aspect for the product and service of Issuer or
    atau Perusahaan Publik, paling sedikit mengenai strategi              Listed Company, such as: marketing strategy and market 133-134
    pemasaran dan pangsa pasar.                                           share.


13. Uraian mengenai Dividen selama 2 (dua) tahun buku                     Description regarding Dividends for the last 2 (two) fiscal
    terakhir (jika ada), paling sedikit:                                  years (if any), including:
    a. Kebijakan dividen.                                                 a. Dividend policy.
    b. Tanggal pembayaran dividen kas dan/atau tanggal                    b. Date of cash dividend payment and/or date of non-              135
       distribusi dividen non kas.                                           cash dividend distribution.
    c. Jumlah dividen per saham (kas dan/atau non kas).                   c. Amount of dividend per share (cash/non-cash).
    d. Jumlah dividen per tahun yang dibayar.                             d. Amount of paid dividend per year.

14. Realisasi Penggunaan Dana Hasil Penawaran Umum,                       Actual Use of Proceeds from the Public Offering, provided
    dengan ketentuan:                                                     that:
    a. Dalam hal selama tahun buku, Emiten memiliki kewajiban             a. During fiscal year, the Issuer had the obligation to hand
       menyampaikan laporan realisasi penggunaan dana,                       over the accountability report, thus the cumulative
       maka diungkapkan realisasi penggunaan dana hasil                      use of the proceeds from the Public Offering should be
       Penawaran Umum secara kumulatif sampai dengan                         disclosed until the last fiscal year.
       akhir tahun buku.                                                                                                                    135
    b. Dalam hal terdapat perubahan penggunaan dana                       b. Should there be any changes in the use of proceeds
       sebagaimana diatur dalam Peraturan Otoritas Jasa                      as stipulated in the Regulation of Financial Services
       Keuangan tentang Laporan Realisasi Penggunaan Dana                    Authority on Report Realization of the Use of Proceeds
       Hasil Penawaran Umum, maka Emiten menjelaskan                         from Public Offerings, Issuers should explain such
       perubahan tersebut.                                                   changes.


15. Informasi Material (jika ada), antara lain mengenai investasi,        Material Information (if any) regarding investments,
    ekspansi, divestasi, penggabungan/peleburan usaha, akuisisi,          expansion,          divestment,         business         merger/
    restrukturisasi utang/modal, transaksi material, transaksi afiliasi   takeover,acquisition, debt/equity restructuring, material
    dan transaksi yang mengandung benturan kepentingan, yang              transaction, affiliated transaction and transaction containing
    terjadi pada tahun buku, antara lain memuat:                          conflict of interest or occurred in fiscal year, including:
    a. Tanggal, nilai dan objek transaksi.                                a. Date, value and transaction object.
    b. Nama pihak yang bertransaksi.                                      b. Name of the parties conducting transaction.
    c. Sifat hubungan afiliasi (jika ada).                                c. Nature of affiliation (if any).
    d. Penjelasan mengenai kewajaran transaksi.                           d. Description about transaction fairness.
    e. Pemenuhan ketentuan terkait.                                       e. Relevant regulation compliance.                               136-137
    f. Dalam       hal     terdapat   hubungan      afiliasi,  selain     f. In the case of affiliated relations present, the Issuer or
        mengungkapkan informasi sebagaimana dimaksud                         Listed Company shall disclose information other than
        huruf a sampai e, Emiten atau Perusahaan Publik juga                 refered to in point a to e as follows:
        mengungkapkan informasi:
        1) pernyataan Direksi bahwa transaksi afiliasi telah                 1) the Directors’ statement that the affiliated transactions
            melalui prosedur yang memadai untuk memastikan                      have been processed through adequate procedures
            bahwa transaksi afiliasi dilaksanakan sesuai dengan                 in accordance to the general business practices, i.e.
            praktik bisnis yang berlaku umum antara lain dilakukan              with arms-length principle.
            dengan memenuhi prinsip transaksi yang wajar.




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         2) peran      Dewan    Komisaris    dan     komite   audit          2) the roles of the Board of Commissioners and audit
              dalam melakukan prosedur yang memadai                             committee is adequate to ensure that the affiliated
              untuk    memastikan      bahwa     transaksi   afiliasi           transactions have been implemented in accordance
              dilaksanakan sesuai dengan praktik bisnis yang                    to the general business practices, i.e. with arms-
              berlaku umum antara lain dilakukan dengan                         length principles.
              memenuhi prinsip transaksi yang wajar.
      g. Untuk transaksi afiliasi atau transaksi material yang          g. Affiliated transactions and material transactions
         merupakan kegiatan usaha yang dijalankan dalam rangka             generating recurring and/or sustainable revenues, should
         menghasilkan pendapatan usaha dan dijalankan secara               be explained that the transactions were implemented to
         rutin, berulang dan/atau berkelanjutan, ditambahkan               generate recurring and/or sustainable revenues.
         penjelasan bahwa transaksi afiliasi atau transaksi material
         tersebut merupakan kegiatan usaha yang dijalankan
         dalam rangka menghasilkan pendapatan usaha dan
         dijalankan secara rutin, berulang dan/atau berkelanjutan.
      h. Untuk pengungkapan transaksi afiliasi dan/atau                 h. Affiliated transactions and transactions with conflicts
         transaksi benturan kepentingan yang merupakan                     of interest that had been approved by independent
         hasil pelaksanaan transaksi afiliasi dan/atau transaksi           shareholders should be explained at the general meeting
         benturan kepentingan yang telah disetujui pemegang                of shareholders for approval.
         saham independen, ditambahkan informasi mengenai
         tanggal pelaksanaan RUPS yang menyetujui transaksi
         afiliasi dan/atau transaksi benturan kepentingan tersebut.     i.   In the absent of affiliated transaction and/or transaction
      i. Dalam hal tidak terdapat transaksi afiliasi dan/atau                with conflict of interest, information was disclosed.
         transaksi benturan kepentingan, maka diungkapkan
         mengenai hal tersebut.


16. Perubahan Ketentuan Peraturan Perundang-undangan                    Changes in Regulation having a significant impact on the
    yang berpengaruh signifikan terhadap Emiten atau                    Issuer and Listed Company and the impact on financial             138
    Perusahaan Publik dan dampaknya terhadap laporan                    statements (if any).
    keuangan (jika ada).


17.   Perubahan Kebijakan Akuntansi, alasan dan dampaknya               Changes in the Accounting Policy, reason and its impact on        138
      terhadap laporan keuangan (jika ada).                             financial statements (if any).


     Tata Kelola Emiten atau Perusahaan Publik                          Corporate Governance
VII. Tata kelola Emiten atau Perusahaan Publik paling sedikit           Governance of Issuer or Listed Company shall contain at
     memuat uraian singkat mengenai:                                    least a brief description about:



1.    RUPS                                                              GMS
      a. Informasi mengenai keputusan RUPS pada tahun buku              a. Information on GMS resolution in the financial year and 1
         dan 1 (satu) tahun sebelum tahun buku.                            (one) year prior to the financial year.                   147-153

      b. Dalam hal Emiten atau Perusahaan Publik menggunakan            b. In the event of the Issuer or Public Company used
         pihak independen dalam pelaksanaan RUPS untuk                     independent party for voting count.
         perhitungan suara.


2.    Direksi, mencakup antara lain:                                    The Directors, include:
      a. Tugas dan tanggung jawab masing-masing anggota                 a. The duties and responsibilities of each member of the
         Direksi.                                                          Directors.
      b. Pernyataan bahwa Direksi memiliki pedoman atau                 b. A statement that the Directors has the Directors’
         piagam (charter) Direksi.                                         guidelines or charter.
      c. Kebijakan dan pelaksanaan tentang frekuensi rapat              c. Policy and the implementation of the Directors
         Direksi, termasuk rapat bersama Dewan Komisaris, dan              meeting frequency, including meeting with Board of 154-161
         tingkat kehadiran anggota Direksi dalam rapat tersebut.           Commissioners, and attendance of the Directors in such
                                                                           meeting.
      d. Pelatihan dan/atau peningkatan kompetensi anggota              d. Trainings and/or competence development of the
         direksi.                                                          members of the Directors.
      e. Penilaian terhadap kinerja komite yang mendukung               e. The assessment on the performance of committee
         pelaksanaan tugas Direksi.                                        which supports the implementation of the Directors’
                                                                           duties.


3.    Dewan Komisaris, mencakup antara lain:                            The Board of Commissioners, include, among others:
      a. Tugas dan tanggung jawab Dewan Komisaris.                      a. The duties and responsibilities of each member of the
                                                                            Board of Commissioners.
      b. Pernyataan bahwa Dewan Komisaris memiliki pedoman              b. Statement that the Board of Commissioners has the
         atau piagam (charter) Dewan Komisaris.                             Board of Commissioners’ guidelines or charter.
      c. Kebijakan dan pelaksanaan tentang frekuensi rapat              c. Policy and the implementation of the Board of
         Dewan Komisaris, termasuk rapat bersama Direksi, dan               Commissioners meeting frequency, including meeting with
         tingkat kehadiran anggota Dewan Komisaris dalam                    the Directors, and level of attendance of the members of
         rapat tersebut.                                                    the Board of Commissioners in such meeting.
      d. Pelatihan dan/peningkatan kompetensi anggota                   d. Trainings and/or competence development of the
         Dewan Komisaris:                                                   members of the Board of Commissioners:
         1) Kebijakan     pelatihan    dan/atau     peningkatan             1) Training policy and/or competency improvement for
             kompetensi anggota Dewan Komisaris, termasuk                      members of the Board of Commissioners, including
             program orientasi bagi anggota Dewan Komisaris                    an orientation program for newly appointed
             yang baru diangkat (jika ada).                                    members of the Board of Commissioners (if any).
         2) Pelatihan dan/atau peningkatan kompetensi yang                  2) Training and/or competency improvement attended 161-169
             diikuti anggota Dewan Komisaris dalam tahun buku                  by members of the Board of Commissioners in the
             (jika ada).                                                       financial year (if any).
      e. Kebijakan Emiten atau Perusahaan Publik tentang                e. Issuer’s or Listed Company’s policy on the assessment
         penilaian terhadap kinerja anggota Direksi dan anggota             of the performance of the Directors’ and Board of
         Dewan Komisaris dan pelaksanaannya, paling sedikit                 Commissioners’ members and its implementation,
         meliputi:                                                          which includes at least:
         1) Prosedur pelaksanaan penilaian kinerja.                         1) Procedure of performance assessment.
         2) Kriteria yang digunakan.                                        2) The criteria used.
         3) Pihak yang melakukan penilaian.                                 3) The party carrying out the assessment.
      f. Penilaian terhadap kinerja komite yang mendukung               f. The assessment on the performance of committee
         pelaksanaan tugas Dewan Komisaris meliputi:                        which supports the implementation of the Board of
                                                                            Commissioners’ duties; including:
         1) Prosedur penilaian kinerja.                                     1) Performance assessment procedure.
         2) Kriteria yang digunakan.                                        2) Usable criteria.




                                                                                                          2025 ANNUAL REPORT               229
Page 230
      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




4.   Nominasi dan Remunerasi Direksi dan Dewan Komisaris           Nomination and Remuneration of the Directors and the
                                                                   Board of Commissioners
     a. Prosedur nominasi, meliputi uraian singkat mengenai        a. The nomination procedure, including a brief description
        kebijakan dan proses nominasi anggota Direksi dan/            of the policies and process for nomination of members
        atau anggota Dewan Komisaris.                                 of the Directors and/or members of the Board of
                                                                      Commissioners.
     b. Prosedur dan pelaksanaan remunerasi Direksi dan            b. Procedures and implementation of remuneration for
        Komisaris antara lain:                                        Directors and Commissioners, including:                 170-173
        1) Prosedur penetapan remunerasi Direksi dan Dewan            1) Procedures for determining remuneration for the
           Komisaris.                                                     Board of Directors and the Board of Commissioners.
        2) Struktur remunerasi Direksi dan Dewan Komisaris,           2) The remuneration structure of the Board of Directors
           seperti gaji, tunjangan, tantiem/bonus, dan lainnya.           and the Board of Commissioners, such as salaries,
                                                                          allowances, bonuses, and others.
          3) Besarnya remunerasi masing-masing         anggota        3) The amount of remuneration for each member of the
             Direksi dan Dewan Komisaris.                                 Board of Directors and the Board of Commissioners.


5.   Dewan Pengawas Syariah, bagi Emiten atau Perusahaan           Sharia Supervisory Board, for Issuer or Listed Company
     Publik yang menjalankan kegiatan usaha berdasarkan            which carried out business activity based on sharia
     prinsip syariah sebagaimana tertuang dalam anggaran           principle as stated in the article of association.              185
     dasar.


6.   Komite Audit, mencakup antara lain:                           Audit Committee, includes, among others:
     a. Nama dan jabatannya dalam keanggotaan komite.              a. Name and position in the committee.
     b. Usia.                                                      b. Age.
     c. Kewarganegaraan.                                           c. Citizenship.
     d. Riwayat pendidikan.                                        d. Educational history.
     e. Riwayat jabatan, meliputi informasi:                       e. Work experience, which includes information:
        1) Dasar hukum penunjukan sebagai anggota komite.             1) Basis for appointment as the member of the
        2) Rangkap jabatan, baik sebagai anggota Dewan                    comittee.
           Komisaris, anggota Direksi dan/atau anggota komite         2) Concurrent position, either as the member of the Board
           serta jabatan lainnya (jika ada).                              of Commissioners, member of the Directors and/or
        3) Pengalaman kerja beserta periode waktunya baik                 member of committee as well as other position (if any).
           di dalam maupun di luar Emiten atau Perusahaan             3) Work experience and duration of employment, both 173-180
           Publik.                                                        within and outside of the Issuer or Listed Company.
     f. Periode dan masa jabatan anggota Komite Audit.             f. Period and tenure of the member of Audit Committee.
     g. Pernyataan independensi Komite Audit.                      g. The Audit Committee’s statement of independence.
     h. Kebijakan dan pelaksanaan tentang frekuensi rapat          h. Policy and implementation regarding the frequency
        Komite Audit dan tingkat kehadiran anggota Komite             of Audit Committee meetings and the attendance of
        Audit dalam rapat tersebut.                                   members of the Audit Committee at these meetings.
     i. Pendidikan dan/atau pelatihan yang telah diikuti dalam     i. Training attended in the fiscal year (if any).
        tahun buku (jika ada).
     j. Pelaksanaan kegiatan Komite Audit pada tahun buku sesuai   j.   Implementation of Audit Committee’s activity in the
        dengan yang dicantumkan dalam pedoman atau piagam               fiscal year in accordance with the Audit Committee
        (charter) Komite Audit.                                         guideline or charter.


7.   Komite Nominasi dan Remunerasi, yang mencakup antara          Nomination and Remuneration Committees, including:
     lain:
     a. Nama dan jabatannya dalam keanggotaan komite.              a.   Name and position in the committee.
     b. Usia.                                                      b.   Age.
     c. Kewarganegaraan.                                           c.   Citizenship.
     d. Riwayat pendidikan.                                        d.   Educational history.
     e. Riwayat jabatan, meliputi informasi:                       e.   Work experience, which includes information:
         1) Dasar hukum penunjukan sebagai anggota komite.              1) Basis for appointment as the member of the
         2) Rangkap jabatan, baik sebagai anggota Dewan                     committee.
            Komisaris, anggota Direksi dan/atau anggota komite          2) Concurrent position, either as the member of the
            serta jabatan lainnya (jika ada).                               Board of Commissioners, member of the Directors
                                                                            and/or member of committee as well as other
                                                                            position (if any).
        3) Pengalaman kerja beserta periode waktunya baik               3) Work experience and duration of employment, both
           di dalam maupun di luar Emiten atau Perusahaan                   within and outside of the Issuer or Listed Company.
           Publik.
     f. Periode dan masa jabatan anggota komite.                   f. Period and tenure of member of committee.
     g. Uraian tugas dan tanggung jawab.                           g. Description of duties and responsibilities.                 181-185
     h. Pernyataan bahwa telah memiliki pedoman atau               h. Statement of the committee’s guidelines or charter.
        piagam (charter) komite.
     i. Pernyataan independensi komite.                            i. The Committee’s statement of independence.
     j. Kebijakan dan pelaksanaan tentang frekuensi rapat          j. Policy and implementation regarding the frequency of
        komite dan tingkat kehadiran anggota komite dalam             Committee meetings and the attendance of members
        rapat tersebut.                                               of the Committee at these meetings.
     k. Pendidikan dan/atau pelatihan yang telah diikuti dalam     k. Training attended in the fiscal year (if any).
        tahun buku (jika ada).
     l. Uraian singkat pelaksanaan kegiatan komite pada            l. Brief description of the duty implementation delivered
        tahun buku.                                                   by the Committee during the fiscal year.
     m. Dalam hal tidak dibentuk komite nominasi dan               m. If a nomination and remuneration committee was not
        remunerasi, Emiten dan Perusahaan Publik cukup                established, it was sufficient for the Issuer and Public
        mengungkapkan:                                                Company to disclose:
        1) Alasan tidak dibentuk.                                     1) The reason for not forming the committee.
        2) Pihak yang melaksanakan fungsi nominasi dan                2) The parties responsible for carrying out nomination
           remunerasi.                                                    and remuneration functions.


8.   Komite Lain yang dimiliki Emiten atau Perusahaan Publik       Other Committees that the Issuer or Listed Company
     dalam rangka mendukung fungsi dan tugas Direksi dan/          have in order to support the function and duties
     atau Dewan Komisaris, yang mencakup antara lain:              of the Directors and/or Board of Commissioners,
                                                                   including:
     a.   Nama dan jabatannya dalam keanggotaan komite.            a. Name and position in the committee
     b.   Usia.                                                    b. Age
     c.   Kewarganegaraan.                                         c. Citizenship
     d.   Riwayat pendidikan.                                      d. Educational history                                          185
     e.   Riwayat jabatan, meliputi informasi:                     e. Work experience, which includes information:
          1) Dasar hukum penunjukan sebagai anggota komite.            1) Basis for the appointment as member of the
          2) Rangkap jabatan, baik sebagai anggota Dewan                  committee.
             Komisaris, anggota Direksi, dan/atau anggota              2) Concurrent position, either as member of the Board
             komite serta jabatan lainnya (jika ada).                     of Commissioners, member of the Directors, and/or
          3) Pengalaman kerja beserta periode waktunya baik               committee member as well as other position (if any).
             di dalam maupun di luar Emiten atau Perusahaan            3) Work experience and duration of employment, both
             Publik.                                                      within and outside of the Issuer or Listed Company.




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      f. Periode dan masa jabatan anggota komite.                    f. Period and tenure of member of committee.
      g. Uraian tugas dan tanggung jawab.                            g. Description of duties and responsibilities.
      h. Pernyataan bahwa telah memiliki pedoman atau                h. Statement of the committee’s guidelines or charter.
         piagam (charter) komite.
      i. Pernyataan independensi komite.                             i. The Committee’s statement of independence.
      j. Kebijakan dan pelaksanaan tentang frekuensi rapat           j. Policy and implementation regarding the frequency of
         komite dan tingkat kehadiran anggota komite dalam              Committee meetings and the attendance of members
         rapat tersebut.                                                of the Committee at these meetings.
      k. Pendidikan dan/atau pelatihan yang telah diikuti dalam      k. Training attended in the fiscal year (if any).
         tahun buku (jika ada).
      l. Uraian singkat pelaksanaan kegiatan komite pada             l.   Brief description of the duty implementation delivered
         tahun buku.                                                      by the Committee during the fiscal year.


9.    Sekretaris Perusahaan, mencakup antara lain:                   Corporate Secretary, including:
      a. Nama.                                                       a. Name.
      b. Domisili.                                                   b. Domicile.
      c. Riwayat jabatan, meliputi informasi:                        c. Work experience, including the following information:
         1) Dasar hukum penunjukan sebagai Sekretaris                   1) Basis for appointment as the Corporate Secretary.
            Perusahaan.
         2) Pengalaman kerja beserta periode waktunya baik                2) Work experience and duration of employment, both 185-188
            di dalam maupun di luar Emiten atau Perusahaan                   within and outside of the Issuer or Listed Company.
            Publik.
      d. Riwayat pendidikan.                                         d. Educational history.
      e. Pendidikan dan/atau pelatihan yang diikuti dalam            e. Training attended in the fiscal year (if any).
         tahun buku.
      f. Uraian     singkat  pelaksanaan      tugas Sekretaris       f.   Brief description of the duty implementation delivered
         Perusahaan pada tahun buku.                                      by the Corporate Secretary during the fiscal year.


10. Unit Audit Internal, mencakup antara lain:                       Internal Audit Unit, including:
    a. Nama Kepala Unit Audit Internal.                              a. Name of the Head of the Internal Audit Unit.
    b. Riwayat jabatan, meliputi informasi:                          b. Work experience, including the following information:
       1) Dasar hukum penunjukan sebagai kepala Unit Audit               1) Basis for appointment as the Head of the Internal
           Internal.                                                        Audit Unit.
       2) Pengalaman kerja beserta periode waktunya baik                 2) Work experience and duration of employment, both
           di dalam maupun di luar Emiten atau Perusahaan                   within and outside of the Issuer or Listed Company.
           Publik.
    c. Kualifikasi atau sertifikasi sebagai profesi audit internal   c. Qualifications and certifications relevant to internal
       (jika ada).                                                      auditing (if applicable).                              189-194
    d. Pendidikan dan/atau pelatihan yang diikuti dalam              d. Training attended during the fiscal year.
       tahun buku.
    e. Struktur dan kedudukan Unit Audit Internal.                   e. Structure and positions within the Internal Audit Unit.
    f. Uraian tugas dan tanggung jawab.                              f. Description of duties and responsibilities.
    g. Pernyataan bahwa telah memiliki pedoman atau                  g. Statement of the guidelines or charter for the Internal
       piagam (charter) Unit Audit Internal.                            Audit Unit.
    h. Uraian singkat pelaksanaan tugas Unit Audit Internal          h. Brief description of the duty implementation delivered
       pada tahun buku.                                                 by the Internal Audit Unit during the fiscal year.


11    Uraian mengenai Sistem Pengendalian Internal yang              Description about Internal Control System implemented by
      diterapkan oleh Emiten atau Perusahaan Publik, paling          the Issuer or Listed Company, including:
      sedikit mengenai:
      a. Pengendalian keuangan dan operasional, serta                a. Financial and operational control, as well as compliance
          kepatuhan terhadap peraturan perundang-undangan               towards other regulations.                               195-196
          lainnya.
      b. Tinjauan atas efektivitas sistem pengendalian internal.     b. Review of the effectiveness of internal control system.
      c. Pernyataan Direksi dan/atau Dewan Komisaris atas            c. Statement of the Directors and/or Board of
          kecukupan sistem pengendalian internal.                       Commissioners on the adequacy of the internal control
                                                                        system.

12.   Sistem Manajemen Risiko yang diterapkan oleh Emiten            Risk Management System implemented by the Issuer or
      atau Perusahaan Publik, paling sedikit mengenai:               Listed Company, including:
      a. Gambaran umum mengenai sistem manajemen risiko              a. General description about the Issuer’s or Listed
          Emiten atau Perusahaan Publik.                                 Company’s risk management system.
      b. Jenis risiko dan cara pengelolaannya.                       b. Type of risk and its management.                  196-199
      c. Tinjauan atas efektivitas sistem manajemen risiko           c. Review of the effectiveness of Issuer’s or Listed
          Emiten atau Perusahaan Publik.                                 Company’s risk management.
      d. Pernyataan Direksi dan/atau Dewan Komisaris atas            d. Statement of the Board of Directors and/or Board
          kecukupan sistem manajemen risiko.                             of Commissioners on the adequacy of the risk
                                                                         management.


13. Perkara Penting yang dihadapi oleh Emiten atau                   Important Cases encountered by Issuer or Listed Company,
    Perusahaan Publik, entitas anak, anggota Direksi dan             subsidiary entities, members of Directors and Board of
    anggota Dewan Komisaris (jika ada), antara lain meliputi:        Commissioners, including:
    a. Pokok perkara/gugatan.                                        a. Subject of the case/claim.                                 200-201
    b. Status penyelesaian perkara/gugatan.                          b. Status of settlement of case/claim.
    c. Pengaruhnya terhadap kondisi Emiten atau Perusahaan           c. Potential impacts on the condition of the Issuer or Listed
       Publik.                                                          Company.


14. Informasi tentang Sanksi Administratif yang dikenakan            Information about Administrative sanctions imposed
    kepada Emiten atau Perusahaan Publik, anggota Dewan              on the Issuer or Listed Company, member of the Board
    Komisaris dan Direksi, oleh otoritas Pasar Modal dan             of Commissioners and Directors, by the Capital Market          201
    otoritas lainnya pada tahun buku terakhir (jika ada).            authority and others in the last fiscal year (if any).


15. Informasi mengenai Kode Etik Emiten atau Perusahaan              Information about Issuer’s or Listed Company’s Code of
    Publik meliputi:                                                 Conduct, including:
    a. Pokok-pokok kode etik.                                        a. Principles of the code of conduct.
    b. Bentuk sosialisasi kode etik dan upaya penegakannya.          b. Form of dissemination of code of conduct and its
                                                                         enforcement attempt.                                   202-205
      c. Pernyataan bahwa kode etik berlaku bagi anggota             c. Statement that the code of conduct is applicable to the
         Direksi, anggota Dewan Komisaris dan karyawan Emiten            members of the Directors, Board of Commissioners and
         atau Perusahaan Publik.                                         employees of the Issuer or Listed Company.




                                                                                                     2025 ANNUAL REPORT               231
Page 232
      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




16. Uraian mengenai kebijakan pemberian kompensasi jangka      Description of the long-term performance-based
    panjang berbasis kinerja kepada manajemen dan/atau         compensation policy for management and/or employees.           205
    karyawan.


17.   Uraian singkat mengenai kebijakan pengungkapan           A brief description of the information disclosure policy
      informasi mengenai:                                      regarding:
      a. Kepemilikan saham anggota Direksi dan anggota         a. Sharing the ownership details of Board of Directors and 205-207
          Dewan Komisaris.                                        Commissioners.
      b. Pelaksanaan atas kebijakan dimaksud.                  b. Implementation of the policy.


18. Uraian mengenai Sistem Pelaporan Pelanggaran di Emiten     Description of Whistleblowing System in the Issuer and
    atau Perusahaan Publik (jika ada), antara lain meliputi:   Listed Company (if any), includes, including:
    a. Cara penyampaian laporan pelanggaran.                   a. Mechanism of whistleblowing system.
    b. Perlindungan bagi pelapor.                              b. Protection for the whistleblower.
    c. Penanganan pengaduan.                                   c. Complaint handling.
    d. Pihak yang mengelola pengaduan.                         d. Party managing the complaint.                       208-210
    e. Hasil dari penanganan pengaduan, paling sedikit         e. Result of complaint handling, at least includes:
       meliputi:
       1) Jumlah pengaduan yang masuk dan diproses                1) Number of incoming and processed complaints in
          dalam tahun buku.                                          the fiscal year.
       2) Tindak lanjut pengaduan.                                2) Complaint follow-up.


19. Uraian mengenai kebijakan anti korupsi Emiten atau         Description of the anti-corruption policy of the Issuer or
    Perusahaan Publik, paling sedikit memuat:                  Public Company, including:
    a. Program dan prosedur yang dilakukan dalam               a. Programs and procedures implemented to combat
       mengatasi praktik korupsi, balas jasa (kickbacks),         corrupt practices, kickbacks, fraud, bribery and
       fraud, suap dan/atau gratifikasi dalam Emiten atau         gratification in Issuers or Public Companies.           211-212
       Perusahaan Publik.
    b. Pelatihan/sosialisasi anti korupsi kepada karyawan      b. Anti-corruption training/socialization for employees of
       Emiten atau Perusahaan Publik.                             Issuers or Public Companies.


20. Penerapan atas Pedoman Tata Kelola Perusahaan Terbuka      Implementation of Corporate Governance Guidelines for
    bagi Emiten yang menerbitkan Efek Bersifat Ekuitas atau    Issuers or Listed Companies that have issued equity-type
    Perusahaan Publik, meliputi:                               shares, including:
    a. Pernyataan mengenai rekomendasi yang telah              a. Statement on the recommendations that had been
       dilaksanakan.                                               implemented.                                          212-217
    b. Penjelasan atas rekomendasi yang belum dilaksanakan,    b. Explanation of recommendations that had not been
       disertai alasan dan alternatif pelaksanaannya (jika         implemented, as well as the reason and implementation
       ada).                                                       alternatives (if any).



VIII. Tanggung Jawab Sosial dan Lingkungan Emiten              Social and Environmental Responsibility                        219
      atau Perusahaan Publik                                   of Issuer or Listed Company



IX. Laporan Keuangan Tahunan yang Telah Diaudit                Audited Financial Statements



      Laporan keuangan tahunan yang dimuat dalam Laporan       The annual financial statements contained in the Annual
      Tahunan disusun sesuai dengan Standar Akuntansi          Report were prepared in accordance with the Financial
      Keuangan di Indonesia dan telah diaudit oleh Akuntan.    Accounting Standard in Indonesia and had been audited
      Laporan keuangan dimaksud memuat pernyataan              by Accountant. The financial report mentioned included a
      mengenai pertanggungjawaban atas laporan keuangan        statement about accountability for the financial report, as
      sebagaimana diatur dalam peraturan perundang-            outlined in the laws and regulations governing the Capital     244
      undangan di sektor Pasar Modal yang mengatur mengenai    Market sector. These rules established the responsibilities
      tanggung jawab Direksi atas laporan keuangan atau        of directors concerning financial statements, as well as
      peraturan perundang-undangan di sektor Pasar Modal       regulations for periodic reports required from Securities
      yang mengatur mengenai laporan berkala Perusahaan        Companies when the Issuer was classified as a Securities
      Efek dalam hal Emiten merupakan Perusahaan Efek.         Company.


      Surat Pernyataan Anggota Direksi dan Anggota Dewan       Statements of the Members of Directors and Board of
 X.   Komisaris tentang Tanggung Jawab atas Laporan            Commissioners on Responsibility for the Annual Report
      Tahunan


      Surat pernyataan anggota Direksi dan anggota Dewan       The statement from the members of the Board of
      Komisaris tentang tanggung jawab atas Laporan Tahunan    Commissioners regarding their responsibility for the Annual
      disusun sesuai dengan format Surat Pernyataan Anggota    Report had been prepared according to the format outlined
      Direksi dan Anggota Dewan Komisaris tentang Tanggung     in the Statement of Responsibility for the Annual Report, as   221
      Jawab atas Laporan Tahunan sebagaimana tercantum         specified in the Appendix. This was an integral part of this
      dalam Lampiran yang merupakan bagian tidak terpisahkan   Circular Letter from the Financial Services Authority.
      dari Surat Edaran Otoritas Jasa Keuangan ini.


Catatan Notes

N/A Tidak Ada None

N/R Tidak Relevant Not Relevant




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Referensi ASEAN Corporate
Governance Scorecard
Reference to ASEAN Corporate Governance Scorecard

Deskripsi                                            Halaman    Deskripsi                                          Halaman
Description                                            Page     Description                                          Page

                                                                                 Does the company disclose
A. Rights and Equitable Treatment of
   Shareholders                                                                  the voting results including
                                                                                 approving, dissenting, and
                                                                        A.2.6                                        149-153
                                                                                 abstaining votes for all
   A.1   Basic Shareholder Rights
                                                                                 resolutions/each      agenda
                                                                                 item for the most recent AGM?
                 Does the company pay (interim
                 and final/annual) dividends                                     Does the company disclose
                 in an equitable and timely                                      the list of board members
                 manner; that is, all shareholders                      A.2.7                                      148, 159, 167
                                                                                 who attended the most
                 are treated equally and                                         recent AGM?
                 paid within 30 days after
                 being (i) declared for interim                                  Does the company disclose
         A.1.1                                         135
                 dividends and (ii) approved                                     that all board members and
                 by shareholders at general                             A.2.8    the CEO (if he is not a board         N/A
                 meetings for final dividends?                                   member) attended the most
                 In case the company has                                         recent AGM?
                 offered Scrip dividend, did the
                 company paid the dividend                                       Does the company allow
                 within 60 days.                                        A.2.9                                          145
                                                                                 voting in absentia?
       Right to participate effectively in and
       vote in general shareholder meetings                                      Did the company vote by poll
       and should be informed of the                                             (as opposed to by show of
   A.2                                                                  A.2.10                                         145
       rules, including voting procedures,                                       hands) for all resolutions at
       that govern general shareholder                                           the most recent AGM?
       meetings
                                                                                 Does the company disclose
                 Does shareholders have                                          that    it  has   appointed
                 the opportunity, evidenced                                      an     independent      party
                                                                        A.2.11                                         147
                 by an agenda item, to                                           (scrutineers/inspectors) to
                 approve remuneration (fees,                                     count and/or validate the
                 allowances, benefit-in-kind                                     votes at the AGM?
         A.2.1                                         144
                 and    other   emoluments)
                 or    any    increases      in                                  Does the company make
                 remuneration      for     the                                   publicly available by the
                 non-executive      directors/                                   next working day the result
                                                                        A.2.12                                         147
                 commissioners?                                                  of the votes taken during the
                                                                                 most recent AGM/EGM for all
                 Does the company provide                                        resolutions?
                 non-controlling shareholders
         A.2.2   a    right    to   nominate           N/A
                                                                                 Does the company provide
                 candidates for board of                                A.2.13   at least 21 days notice for all       146
                 directors/commissioners?                                        AGMs and EGMs?
                 Does the company allow
                 shareholders  to   elect                                        Does the company provide
         A.2.3                                         N/A
                 directors/commissioners                                         the rationale and explanation
                 individually?                                                   for each agenda item
                                                                        A.2.14   which require shareholders’         146, 147
                 Does the company disclose                                       approval in the notice of
         A.2.4   the voting procedures used          145, 147                    AGM/circulars and/or the
                 before the start of meeting?                                    accompanying statement?

                 Does the minutes of the most                                    Does the company give the
                 recent AGM record that the                                      opportunity for shareholders
                 shareholders were given the                                     to place item/s on the
         A.2.5   opportunity to ask questions          147              A.2.15   agenda of general meetings            146
                 and the questions raised by                                     and/or to request for general
                 shareholders and answers                                        meetings subject to a certain
                 given recorded?                                                 percentage?




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      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Deskripsi                                              Halaman    Deskripsi                                         Halaman
Description                                              Page     Description                                         Page


       Markets for corporate control should                                        Are      the      directors/
   A.3 be allowed to function in an efficient                                      commissioners      required
       and transparent manner                                              A.7.1   to report their dealings in        205
                                                                                   company shares within 3
                  In   cases     of    mergers,                                    business days?
                  acquisitions and/or takeovers
                  requiring       shareholders'                            Related party transactions         by
                                                                     A.8
                  approval, does the board                                 directors and key executives
         A.3.1    of directors/commissioners             N/A
                  of the company appoint                                           Does the company have a
                  an independent party to                                          policy requiring a committee
                  evaluate the fairness of the                                     of independent directors/
                  transaction price?                                               commissioners to review
                                                                           A.8.1                                      137
                                                                                   material RPTs to determine
       The exercise of ownership rights by all                                     whether they are in the best
   A.4 shareholders, including institutional                                       interests of the company and
       investors, should be facilitated                                            shareholders?
                                                                                   Does the company have
                  Does the company disclose                                        a policy requiring board
                  its practices to encourage                                       members          (directors/
         A.4.1    shareholders    to  engage           185, 207                    commissioners) to abstain
                  with the company beyond                                  A.8.2                                    137, 159
                                                                                   from participating in the
                  general meetings?                                                board discussion on a
                                                                                   particular agenda when they
   A.5 Shares and voting rights                                                    are conflicted?

                  Where the company has                                            Does the company have
                  more than one class of                                           policies on loans to directors
                  shares, does the company                                         and commissioners either
                  publicize the voting rights                              A.8.3   forbidding this practice or        137
         A.5.1    attached to each class of              146                       ensuring that they are being
                  shares (e.g. through the                                         conducted at arm's length
                  company website/reports/                                         basis and at market rates?
                  the    stock   exchange/the
                  regulator's website)?                                    Protecting minority     shareholders
                                                                     A.9
                                                                           from abusive actions
   A.6 Notice of AGM
                                                                                   Does the company disclose
                  Does each of the resolutions                                     that RPTs are conducted in
                  tabled at the most recent                                A.9.1   such a way to ensure that          137
                  annual general meeting deal                                      they are fair and at arms'
         A.6.1                                           146
                  with only one item, i.e., there is                               length?
                  no bundling of several items
                  into the same resolution?                                        In case of related party
                  Are the company's notice                                         transactions        requiring
                  of the most recent AGM/                                  A.9.2   shareholders'      approval,       137
                  circulars fully translated into                                  is the decision made by
         A.6.2                                           146
                                                                                   disinterested shareholders?
                  English and published on
                  the same date as the local-
                  language version?
                                                                  B. Sustainability and Resilience
         Does the notice of AGM/circulars have
         the following details:
                                                                           Sustainability-related    disclosure
                  Are the profiles of directors/                           should be consistent, comparable
                  commissioners (at least                                  and      reliable,    and    include
                  age, academic qualification,                             retrospective and forward-looking
                                                                     B.1
                  date of first appointment,                               material      information  that    a
         A.6.3                                           N/A
                  experience, and directorships                            reasonable investor would consider
                  in other listed companies) in                            important in making an investment
                  seeking election/re-election                             or voting decision
                  included?
                                                                           Material        Sustainability-related
                  Are the auditors seeking                                 information should be specified
         A.6.4    appointment/re-appointment             152
                  clearly identified?                                              Does the company identify/
                                                                                   report ESG topics that are
                                                                           B.1.1                                    SR 40-44
                  Were the proxy documents                                         material to the organization’s
         A.6.5                                           146
                  made easily available?                                           strategy?

         Insider trading and abusive self-                                         Does the company identify
   A.7                                                                     B.1.2                                    SR 42, 51
         dealing should be prohibited                                              climate change as an issue?




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Deskripsi                                             Halaman      Deskripsi                                         Halaman
Description                                             Page       Description                                         Page


                 Does the company adopt an                                          Does the company disclose
                 internationally       recognized                                   that the board reviews on
                 reporting        framework      or                                 an annual basis that the
        B.1.3    standard for sustainability           SR 8, 9              B.3.1   company's capital and debt
                 (i.e. GRI, Integrated Reporting,                                   structure is compatible with
                 SASB,       IFRS    Sustainability                                 its strategic goals and its
                 Disclosure Standards)?                                             associated risk appetite?

        If a company publicly sets a                                      The        corporate     governance
        sustainability-related goal or target,                            framework should recognize the
        the disclosure framework should                                   rights of stakeholders established by
        provide that reliable metrics are                                 law or through mutual agreements
        regularly disclosed in an easily                              B.4 and encourage active co-operation
        accessible form                                                   between        corporations       and
                                                                          stakeholders in creating wealth, jobs,
                 Does the company disclose SR 19,21,22,3                  and the sustainability of financially
        B.1.4    quantitative
                                             4,54,67,84,
                              sustainability 89,99,122,13                 sound enterprises
                 target?                        0,131
                                                                            Does the company disclose a policy
                                                                            and practices that address :
                 Does the company disclose
                 sustainability-related                                             The existence and scope
                                                      SR 34, 54,
        B.1.5    performance progress in              84, 89, 99            B.4.1   of the company's efforts to        SR 62
                 relation to its previously set                                     address customers' welfare?
                 targets?
                                                                                    Supplier/contractor selection
                                                                            B.4.2                                      SR 88
                                                                                    procedures?
                 Does the company confirm
                 that its Sustainability Report/                                    The company's efforts to
        B.1.6    Reporting is reviewed and /            SR 55                       ensure that its value chain
                 or approved by the Board or                                B.4.3   is environmentally friendly or     SR 31
                 Board Committee?                                                   is consistent with promoting
                                                                                    sustainable development?
       Corporate governance frameworks
       should allow for dialogue between                                            The company's efforts to
   B.2 a company, its shareholders and                                      B.4.4   interact with the communities    SR 45, 126
       stakeholders to exchange views on                                            in which they operate?
       sustainability matters
                                                                                    The company's anti-corruption    211-212, SR
                                                                            B.4.5                                        90
                                                                                    programmes and procedures?
                 Does the company engage
                 internal   stakeholders   to                                       How creditors'    rights   are
                                                                            B.4.6                                    204-205
                 exchange views and gather                                          safeguarded?
        B.2.1                                         SR 44, 48
                 feedback on sustainability
                 matters that are material to                                       Does the company have
                 the business of the company?                                       a separate report/section
                                                                            B.4.7   that discusses its efforts on     Ya Yes
                                                                                    environment/economy and
                 Does the company engage                                            social issues?
                 external   stakeholders   to
                 exchange views and gather                                Where stakeholder interests are
        B.2.2                                         SR 44, 48
                 feedback on sustainability                               protected by law, stakeholders should
                 matters that are material to                         B.5
                                                                          have the opportunity to obtain effective
                 the business of the company?                             redress for violation of their rights

       The      corporate        governance                                         Does the company provide
       framework should ensure that                                                 contact details via the
       boards adequately consider material                                          company's website or Annual
       sustainability risks and opportunities                                       Report which stakeholders
       when fulfilling their key functions in                               B.5.1   (e.g. customers, suppliers,       208-210
   B.3 reviewing, monitoring and guiding                                            general public etc.) can use
       governance practices, disclosure,                                            to voice their concerns and/
       strategy, risk management and                                                or complaints for possible
       internal control systems, including                                          violation of their rights?
       with respect to climate-related
       physical and transition risks                                        Mechanisms for employee participation
                                                                      B.6
                                                                            should be permitted to develop
        Boards       should     assess    whether
        the company’s capital structure is                                          Does the company explicitly
        compatible with its strategic goals and                                     disclose the policies and
                                                                            B.6.1                                      SR 82
        its associated risk appetite to ensure it                                   practices on health, safety
        is resilient to different scenarios                                         and welfare for its employees?




                                                                                            2025 ANNUAL REPORT             235
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      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Deskripsi                                             Halaman     Deskripsi                                           Halaman
Description                                             Page      Description                                           Page


                  Does the company explicitly                              Does the company's annual report
                  disclose the policies and                                disclose the following items:
         B.6.2    practices on training and            SR 128
                  development programmes                                   C.2.1   Corporate objectives                   43
                  for its employees?
                                                                                   Financial performance
                                                                           C.2.2                                     2, 12, 112-129
                  Does the company have                                            indicators
                  a      reward/compensation
                  policy that accounts for the                                     Non-financial performance
         B.6.3                                          205                C.2.3                                        102-111
                  performance of the company                                       indicators
                  beyond short-term financial
                  measures?                                                C.2.4   Dividend policy                        135

         Stakeholders including individual                                         Biographical details (at least
         employee and their representative                                         age, academic qualifications,
         bodies, should be able to freely                                          date of first appointment,
   B.7   communicate their concerns about                                  C.2.5   relevant experience, and any         57-68
         illegal or unethical practices to the                                     other directorships of listed
         board and their rights should not be                                      companies) of all directors/
         compromised for doing this                                                commissioners
                  Does the company have a
                  whistle blowing policy which                             Corporate Governance Confirmation
                  includes     procedures    for                           Statement
                  complaints by employees and
         B.7.1    other stakeholders concerning        SR 58                       Does the Annual Report contain
                  alleged illegal and unethical                                    a statement confirming the
                  behavior and provide contact                                     company's full compliance
                  details via the company's                                        with the code of corporate
                  website or annual report                                 C.2.6                                       212-217
                                                                                   governance and where there
                  Does the company have a                                          is non-compliance, identify
                  policy or procedures to protect                                  and explain reasons for each
         B.7.2    an employee/person who               SR 58                       such issue?
                  reveals alleged illegal/unethical
                  behavior from retaliation?                               Remuneration of Members of the
                                                                     C.3
                                                                           Board and Key Executives
C Disclosure and Transparency
                                                                                   Is there disclosure of the fee
   C.1   Transparent ownership structure                                   C.3.1   structure for non-executive           N/A
                                                                                   directors/commissioners?
                  Does the information on
                  shareholdings reveal the                                         Does the company publicly
         C.1.1    identity of beneficial owners,        76                         disclose [i.e. annual report
                  holding 5% shareholding or                                       or other publicly disclosed
                  more?                                                    C.3.2   documents]      details     of        N/A
                  Does the company disclose                                        remuneration      of     each
                  the direct and indirect                                          non-executive        director/
         C.1.2    (deemed)      shareholdings           76                         commissioner?
                  of major and/or substantial
                                                                                   Does the company disclose
                  shareholders?
                                                                                   its   remuneration       (fees,
                  Does the company disclose                                        allowances, benefit-in-kind
                  the direct and indirect                                          and    other   emoluments)
         C.1.3                                          77                 C.3.3   policy/practices (i.e. the use        N/A
                  (deemed) shareholdings of
                  directors (commissioners)?                                       of short term and long term
                                                                                   incentives and performance
                                                                                   measures) for its executive
                  Does the company disclose                                        directors and CEO?
                  the direct and indirect
         C.1.4                                          77
                  (deemed) shareholdings of                                        Does the company publicly
                  senior management?                                               disclose [i.e. annual report
                                                                                   or other publicly disclosed
                  Does the company disclose                                        documents] the details of
                  details of the parent/holding                            C.3.4                                         N/A
                                                                                   remuneration of each of the
                  company,           subsidiaries,                                 executive directors and CEO
         C.1.5                                          78
                  associates, joint ventures and                                   [if he/she is not a member of
                  special purpose enterprises/                                     the Board]?
                  vehicles (SPEs)/(SPVs)?
                                                                           Disclosure    of   related       party
   C.2 Quality of Annual Report                                      C.4
                                                                           transactions (RPT)




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Deskripsi                                         Halaman   Deskripsi                                           Halaman
Description                                         Page    Description                                           Page


                 Does the company disclose                                    Materials provided in briefings
                 its policy covering the review                      C.9.2                                        N/A
         C.4.1                                    136-137                     to analysts and media
                 and approval of material
                 RPTs?                                               C.9.3    Downloadable annual report          207

                 Does the company disclose                           C.9.4    Notice of AGM and/or EGM            207
                 the name, relationship, nature
         C.4.2                                    136-137
                 and value for each material                         C.9.5    Minutes of AGM and/or EGM           207
                 RPTs?
                                                                              Company's       constitution
         Directors     and      commissioners                                 (company's         by-laws,
   C.5                                                               C.9.6                                        207
         dealings in shares of the company                                    memorandum and articles
                                                                              of association)
                 Does the company disclose
         C.5.1   trading in the company's           N/A        C.10 Investor relations
                 shares by insiders?
                                                                              Does the company disclose
   C.6 External auditor and Auditor Report                                    the contact details (e.g.
                                                                     C.10.1   telephone, fax, and email) of        38
         Where the same audit firm is engaged                                 the officer/office responsible
         for both audit and non-audit services                                for investor relations?

                 Are the audit and non-audit                D Responsibilities of the Board
         C.6.1                                      87
                 fees disclosed?
                                                               D.1   Board Duties and Responsibilities
                 Does the non-audit        fee
         C.6.2                                      87
                 exceed the audit fees?                              Clearly defined board responsibilities
                                                                     and corporate governance policy
   C.7 Medium of communications
                                                                              Does the company disclose
                                                                     D.1.1    its corporate governance           154, 161
         Does the company use the following
                                                                              policy/board charter?
         modes of communication?
                                                                              Are the types of decisions
         C.7.1   Quarterly reporting                188                       requiring board of directors/
                                                                     D.1.2                                      156, 164
                                                                              commissioners'      approval
         C.7.2   Company website                    188                       disclosed?

         C.7.3   Analyst's briefing                 N/A                       Are      the     roles    and
                                                                              responsibilities of the board 156, 164-165
                                                                     D.1.3
                 Media    briefings     /press                                of directors/commissioners
         C.7.4                                      188                       clearly stated ?
                 conferences
         Timely filing/release    of   annual/                       Corporate Vision/Mission
   C.8
         financial reports
                                                                              Does the company have an
                 Are the audited annual                              D.1.4    updated vision and mission           41
                 financial   report/statement                                 statement?
         C.8.1                                      188
                 released within 120 days from
                                                                              Does the board of directors
                 the financial year end?
                                                                              play a leading role in the
                                                                     D.1.5    process of developing and            41
                 Is the annual report released                                reviewing the company's
         C.8.2   within 120 days from the           188
                                                                              strategy at least annually?
                 financial year end?
                                                                              Does the board of directors
                 Is the true and fairness/fair                                have a process to review,
                 representation of the annual                        D.1.6    monitor and oversee the              158
                 financial statement/reports                                  implementation      of  the
         C.8.3   affirmed by the board of           112                       corporate strategy?
                 directors/commissioners
                 and/or the relevant officers                  D.2 Board structure
                 of the company?
                                                                     Code of Ethics or Conduct
   C.9 Company website
                                                                              Are the details of the code of
                                                                     D.2.1                                      202-205
         Does the company have a website                                      ethics or conduct disclosed?
         disclosing up-to-date information on
         the following:                                                       Are      all      directors/
                                                                              commissioners,        senior
                                                                     D.2.2    management              and         205
                 Financial statements/reports                                 employees     required    to
         C.9.1                                      207
                 (latest quarterly)                                           comply with the code/s?



                                                                                      2025 ANNUAL REPORT                237
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      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Deskripsi                                            Halaman      Deskripsi                                         Halaman
Description                                            Page       Description                                         Page


                  Does the company have a                                          Is the chairman of the
                  process to implement and                                         Remuneration  Committee
         D.2.3                                         203                D.2.15                                       181
                  monitor compliance with the                                      an independent director/
                  code/s of ethics or conduct?                                     commissioner?

         Board Structure & Composition                                             Does the company disclose
                                                                                   the terms of reference/
                  Do independent directors/                               D.2.16   governance        structure/        181
                  commissioners make up at                                         charter of the Remuneration
         D.2.4                                         165
                                                                                   Committee?
                  least 50% of the board of
                  directors/commissioners?
                                                                                   Is the meeting attendance
                  Does the company have a                                          of     the     Remuneration
                  term limit of nine years or less                                 Committee disclosed and,
                                                                          D.2.17                                       184
         D.2.5    or 2 terms of five years each        166                         if so, did the Remuneration
                  for its independent directors/                                   Committee meet at least
                  commissioners?                                                   twice during the year?

                  Has the company set a limit                             Audit Committee
                  of five board seats that an
                  individual     independent/                                      Does the company have an
         D.2.6                                       154, 162             D.2.18                                    173-180
                  non-executive       director/                                    Audit Committee?
                  commissioner may hold
                  simultaneously?                                                  Is the Audit Committee
                                                                                   comprised     entirely    of
                  Does the company have any                                        non-executive     directors/
                  executive directors who serve                           D.2.19                                       177
                                                                                   commissioners      with    a
         D.2.7    on more than two boards of           N/A                         majority   of  independent
                  listed companies outside of                                      directors/commissioners?
                  the group?
                                                                                   Is the chairman of the Audit
         Nominating Committee                                             D.2.20   Committee an independent          174, 177
                                                                                   director/commissioner?
                  Does the company have a
         D.2.8                                        181-183
                  Nominating Committee?                                            Does the company disclose
                                                                                   the terms of reference/
                  Is the Nominating Committee                             D.2.21                                       173
                                                                                   governance structure/charter
                  comprised of a majority                                          of the Audit Committee?
         D.2.9                                         N/A
                  of independent directors/
                  commissioners?
                                                                                   Does at least one of the
                                                                                   independent         directors/
                  Is the chairman of the                                           commissioners       of     the
                  Nominating    Committee                                 D.2.22                                       67
         D.2.10                                         181                        committee have accounting
                  an independent director/                                         expertise         (accounting
                  commissioner?                                                    qualification or experience)?
                  Does the company disclose
                  the terms of reference/                                          Is the meeting attendance of
         D.2.11   governance      structure/            181                        the Audit Committee disclosed
                  charter of the Nominating                               D.2.23   and, if so, did the Audit           179
                  Committee?                                                       Committee meet at least four
                                                                                   times during the year?
                  Is the meeting attendance of
                  the Nominating Committee                                         Does the Audit Committee
                  disclosed and if so, did the                                     have primary responsibility
         D.2.12                                        184
                  Nominating        Committee                             D.2.24   for recommendation on the           178
                  meet at least twice during                                       appointment, and removal of
                  the year?                                                        the external auditor?
         Remuneration         Committee/
         Compensation Committee                                      D.3 Board Processes

                  Does the company have a                                 Board meetings and attendance
         D.2.13                                      181-185
                  Remuneration Committee?
                                                                                   Are the board of directors
                  Is      the   Remuneration
                                                                          D.3.1    meeting scheduled before            158
                  Committee        comprised
                                                                                   the start of financial year?
                  entirely of non-executive
         D.2.14                                        N/A
                  directors/commissioners with
                  a majority of independent
                  directors/commissioners ?




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Deskripsi                                           Halaman     Deskripsi                                           Halaman
Description                                           Page      Description                                           Page


                 Does the board of directors/                                    Does the company have
        D.3.2    commissioners meet at least        158-159                      measurable standards to
                 six times during the year?                                      align     the     performance-
                                                                                 based remuneration of the
                 Has each of the directors/                             D.3.13   executive directors and senior       N/A
                 commissioners        attended                                   executives with long-term
        D.3.3                                       159-167                      interests of the company, such
                 at least 75% of all the board
                 meetings held during the year?                                  as claw back provision and
                                                                                 deferred bonuses?
                 Does the company require a
        D.3.4    minimum quorum of at least           N/A               Internal Audit
                 2/3 for board decisions?
                                                                                 Does the company have
                 Did    the    non-executive
                                                                        D.3.14   a separate internal audit          189-194
                 directors/commissioners
                                                                                 function?
                 of the company meet
        D.3.5                                         N/A
                 separately at least once
                 during the year without any                                     Is the head of internal audit
                 executives present?                                             identified or, if outsourced, is
                                                                        D.3.15                                      189-190
                                                                                 the name of the external firm
                                                                                 disclosed?
        Access to information

                                                                                 Does the appointment and
                 Are board papers for board                                      removal of the internal
                 of directors/commissioners                             D.3.16                                        N/A
                                                                                 auditor require the approval
                 meetings provided to the                                        of the Audit Committee?
        D.3.6                                       158, 166
                 board at least five business
                 days in advance of the board
                 meeting?                                               Risk Oversight

                 Does       the      company                                     Does the company establish
                 secretary play a significant                                    a sound internal control
        D.3.7    role   in    supporting  the          186                       procedures/risk management
                 board in discharging its                               D.3.17                                      195-197
                                                                                 framework and periodically
                 responsibilities?                                               review the effectiveness of
                                                                                 that framework?
                 Is the company secretary
                 trained in legal, accountancy
                 or    company       secretarial                                 Does the Annual Report/
        D.3.8                                       187-188                      Annual CG Report disclose
                 practices and has kept
                 abreast       on      relevant                                  that the board of directors/
                 developments?                                                   commissioners has conducted
                                                                        D.3.18   a review of the company's            199
                                                                                 material controls (including
        Board Appointments and Re-Election                                       operational, financial and
                                                                                 compliance controls) and risk
                                                                                 management systems?
                 Does       the    company
                 disclose the criteria used
        D.3.9                                        170-171
                 in selecting new directors/                                     Does the company disclose
                 commissioners?                                                  the key risks to which the
                                                                                 company      is     materially
                 Did the company describe                               D.3.19   exposed to (i.e. financial,          198
                 the process followed in                                         operational    including   IT,
        D.3.10                                       170-171
                                                                                 environmental,         social,
                 appointing new directors/
                 commissioners?                                                  economic)?

                 Are all directors/commissioners                                 Does the Annual Report/
                 subject to re-election every                                    Annual CG Report contain
                 3 years; or 5 years for listed                                  a    statement   from     the
        D.3.11                                       154, 161
                 companies in countries whose                                    board      of      directors/
                 legislation prescribes a term of                       D.3.20   commissioners     or    Audit        199
                 5 years2 each?                                                  Committee      commenting
                                                                                 on the adequacy of the
                                                                                 company's internal controls/
        Remuneration Matters
                                                                                 risk management systems?

                 Do the shareholders or the
                 Board of Directors approve
        D.3.12   the remuneration of the              N/A
                 executive directors and/or
                 the senior executives?



                                                                                         2025 ANNUAL REPORT             239
Page 240
      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Deskripsi                                          Halaman        Deskripsi                                         Halaman
Description                                          Page         Description                                         Page


   D.4 People on the Board                                                 Board Appraisal

                                                                                    Did the company conduct
         Board Chairman                                                             an   annual    performance
                                                                                    assessment of the board of
                  Do different persons assume                              D.5.5    directors/commissioners           172
         D.4.1    the roles of chairman and           N/A                           and disclose the criteria
                  CEO?                                                              and process followed for the
                                                                                    assessment?
                  Is   the   chairman    an
         D.4.2    independent      director/          N/A                  Director Appraisal
                  commissioner?
                                                                                    Did the company conduct
                  Is any of the directors a                                         an   annual    performance
         D.4.3    former CEO of the company           N/A                           assessment of the individual
                  in the past 2 years?                                     D.5.6    directors/commissioners           172
                                                                                    and disclose the criteria
                  Are    the       roles    and                                     and process followed for the
         D.4.4    responsibilities     of    the      N/A                           assessment?
                  chairman disclosed?
                                                                           Committee Appraisal
         Lead Independent Director
                                                                                    Did the company conduct
                  If the Chairman is not                                            an     annual   performance
                  independent, has the Board                                        assessment of the board
                                                                           D.5.7                                      169
         D.4.5    appointed a Lead/Senior             N/A                           committees and disclose the
                  Independent Director and has                                      criteria and process followed
                  his/her role been defined?                                        for the assessment?


         Skills and Competencies                                  Level 2: BONUS ITEMS

                                                                 (B)
         Directors Development                                    A. Rights of Shareholders

                  Does the company have                                  Right to participate effectively in and
                  orientation   programmes                               vote in general shareholders meeting
         D.5.1                                      159, 167         (B) and should be informed of the
                  for       new    directors/
                  commissioners?                                     A.1 rules, including voting procedures,
                                                                         that govern general shareholders
                                                                         meeting.
                  Does the company have
                  a    policy     and    actual
                  practice    and     programs                                      Does the company practice
                  that encourages directors/                               (B)      real time secure electronic       145
         D.5.2                                      159, 167               A.1.1    voting in absentia at general
                  commissioners to attend
                  on-going     or   continuous                                      meetings of shareholders?
                  professional        education
                  programmes?                                    (B) Equitable Treatment of
                                                                  B. Shareholders
         CEO/Executive         Management
         Appointments and Performance                                (B)
                                                                         Notice of AGM
                                                                     A.2

                  Does the company disclose                                         Does the company release its
                  the process on how the board                                      notice of AGM (with detailed
                  of directors/commissioners                                        agendas and explanatory
         D.5.3    plans for the succession           171-172               (B)
                                                                                    circulars), as announced          N/A
                  of    the     CEO/Managing                               A.2.1
                                                                                    to the Exchange, at least 28
                  Director/President and key                                        days before the date of the
                  management?                                                       meeting?

                  Does the board of directors/                   (B)
                  commissioners      conduct                      B. Sustainability and Resilience
                  an    annual  performance
         D.5.4                                        N/A            (B)
                  assessment of the CEO/
                                                                     B.1
                  Managing           Director/
                  President?                                                        Does      the     company
                                                                           (B)      disclose how it manages           94
                                                                           B.1.1    climate-related risks and
                                                                                    opportunities?



240       LAPORAN TAHUNAN 2025
Page 241
                                                                                                       PT Duta Pertiwi Tbk




Deskripsi                                         Halaman     Deskripsi                                             Halaman
Description                                         Page      Description                                             Page


                Does the company disclose                                        Does      the    Nominating
        (B)     that its Sustainability Report/       7
                                                                                 Committee undertake the
        B.1.2   Sustainability Reporting is                           (B)        process of identifying the          170-171
                externally assured?                                   D.2.2      quality of directors aligned
                                                                                 with the company's strategic
                Does the company disclose                                        directions?
                the engagement channel
        (B)     with  stakeholder groups                         (B)
                                                      9              Board Appointments and Re-Election
        B.1.3   and how the company                              D.3
                responds to stakeholders’
                ESG concerns?                                                    Does the company use
                                                                                 professional search firms
                Does the company have a                                          or other external sources of
                unit/division/committee who                                      candidates (such as director
        (B)                                                           (B)
                is specifically responsible to       54
                                                                                 databases set up by director         N/A
        B.1.4                                                         D.3.1
                manage the sustainability                                        or shareholder bodies) when
                matters?                                                         searching for candidates
                Does      the        company                                     to the board of directors/
                disclose board of directors/                                     commissioners?
        (B)
                commissioners' oversight of          54
        B.1.5                                                    (B)
                sustainability-related   risks                       Board Structure & Composition
                and opportunities?                               D.4

                Does the company disclose                                        Do     independent    non-
                the      linkage      between                                    executive        directors/
                executive     directors   and                                    commissioners make up
        (B)                                                           (B)
                senior           management       Tidak No                       more than 50% of the board           N/A
        B.1.6                                                         D.4.1
                remuneration              and                                    of directors/commissioners
                sustainability performance                                       for   a    company     with
                for the previous year?                                           independent chairman?
                                                                 (B)
                Is       the       company’s                         Risk Oversight
                                                                 D.5
        (B)     Whistleblowing        System      208-210
        B.1.7   managed by independent                                           Does the company disclose
                parties/institutions?                                            that its Board identified key
                                                                                 risk in relation to information
(B)                                                                              technology             including
 C. Disclosure and Transparency                                       (B)        disruption, cyber security,          199
                                                                      D.5.1      and disaster recovery, to
   (B)                                                                           ensure that such risks are
       Quality of Annual Report
   C.1                                                                           managed and integrated into
                                                                                 the overall risk management
                Are the audited annual                                           framework?
        (B)     financial   report/statement        N/A
        C.1.1   released within 60 days from                     (B)
                                                                     Board Performance
                the financial year end?                          D.6

(B)                                                                              Does the company have a
 D. Responsibilities of the Board
                                                                      (B)
                                                                                 separate board level Risk            N/A
                                                                      D.6.1
                                                                                 Committee?
   (B)
       Board Competencies and Diversity
   D.1
                                                              Level 2. PENALTY
                Does the company have
        (B)     at   least  one   female                      (P)
        D.1.1   independent     director/
                                                     163       A. Rights of Shareholders
                commissioner?                                    (P)
                                                                     Basic Shareholder Rights
                                                                 A.1
                Does the company have a
                policy and disclose measurable
                                                                                 Did the company fail or
        (B)     objectives for implementing        163, 171                      neglect   to  offer  equal
        D.1.2   its board diversity and report                        (P)
                                                                                 treatment     for    share         Tidak No
                on progress in achieving its                          A.1.1
                                                                                 repurchases       to    all
                objectives?
                                                                                 shareholders?
   (B)
       Board Structure
   D.2                                                               Shareholders, including institutional
                                                                     shareholders, should be allowed to
                Is the Nominating Committee                      (P) consult with each other on issues
        (B)     comprise       entirely     of                   A.2 concerning their basic shareholder
                                                    N/A              rights as defined in the Principles,
        D.2.1   independent         directors/
                commissioners?                                       subject to exceptions to prevent abuse




                                                                                         2025 ANNUAL REPORT              241
Page 242
      Referensi Surat Edaran OJK No.16/SEOJK.04/2021 & ASEAN Corporate Governance Scorecard
      Reference to OJK Circular Letter No.16SEOJK.04/2021 & ASEAN Corporate Governance Scorecard




Deskripsi                                          Halaman        Deskripsi                                                Halaman
Description                                          Page         Description                                                Page


                  Is there evidence of barriers                                    Were there any RPTs that
                  that prevent shareholders                                        can be classified as financial
         (P)                                                              (P)      assistance (i.e not conducted
                  from         communicating        Tidak No                                                               Tidak No
         A.2.1                                                            A.7.2    at arms length) to entities
                  or consulting with other
                  shareholders?                                                    other than wholly-owned
                                                                                   subsidiary companies?

       Right to participate effectively in and
       vote in general shareholders meeting                              The rights of stakeholders that are
   (P)                                                               (P)
       and should be informed of the rules,                              established by law or through mutual
   A.3                                                               B.1
       including voting procedures, that                                 agreements are to be respected
       govern general shareholders meeting
                                                                                   Have      there      been       any
                  Did the company include any                                      violations    of      any      laws
         (P)      additional and unannounced                                       pertaining         to        labor/
                                                    Tidak No              (P)
         A.3.1    agenda item into the notice                                      e m p lo ym e n t / c o n s u m e r /   Tidak No
                                                                          B.1.1
                  of AGM/EGM?                                                      insolvency/         commercial/
                                                                                   competition or environmental
                                                                                   issues?
                  Was the Chairman of the
                  Board and the Chairmen of all
         (P)
                  Board Committees and the           Ya Yes              Where stakeholders participate in
         A.3.2
                  CEO absent from the most                               the corporate governance process,
                                                                     (P)
                  recent General Meeting?                                they should have access to relevant,
                                                                     B.2
                                                                         sufficient and reliable information on
                                                                         a timely and regular basis
       Capital structures and arrangements
       that enable certain shareholders
   (P)                                                                             Has the company faced
       to obtain a degree of control
   A.4                                                                             any sanctions by regulators
       disproportionate to their equity
       ownership should be disclosed                                      (P)      for    failure   to  make               Tidak No
                                                                          B.2.1    announcements within the
                                                                                   requisite time period for
         Did the company fail to disclose the                                      material events?
         existence of:

         (P)A.4.1 Shareholders agreement?           Tidak No                       Is there any evidence that
                                                                          (P)
                                                                                   the company is engaging in              Tidak No
                                                                          B.2.2
         (P)A.4.2 Voting cap?                       Tidak No                       green-washing activities?

         (P)A.4.3 Multiple voting rights?           Tidak No     (P)
                                                                  C. Disclosure and Transparency
       Capital structures and arrangements
       that enable certain shareholders                              (P) Sanctions from regulator on financial
   (P)
       to obtain a degree of control                                 C.1 reports
   A.5
       disproportionate to their equity
       ownership should be disclosed                                               Did the company receive
                                                                          (P)
                                                                                   a "qualified opinion" in its            Tidak No
                                                                          C.1.1
                  Is a pyramid ownership                                           external audit report?
         (P)
                  structure and/ or cross           Tidak No
         A.5.1
                  holding structure apparent?                                      Did the company receive
                                                                          (P)
                                                                                   an "adverse opinion" in its             Tidak No
                                                                          C.1.2
                                                                                   external audit report?
   (P) Insider trading and abusive self-
   A.6 dealing should be prohibited
                                                                                   Did the company receive
                                                                          (P)
                  Has there been any conviction                                    a "disclaimer opinion" in its           Tidak No
                                                                          C.1.3
                  of insider trading involving                                     external audit report?
         (P)
                  directors/commissioners,          Tidak No
         A.6.1
                  management and employees                                         Has the company in the past
                  in the past three years?                                         year revised its financial
                                                                          (P)
                                                                                   statements for reasons other            Tidak No
                                                                          C.1.4
   (P) Protecting minority        shareholders                                     than changes in accounting
   A.7 from abusive action                                                         policies?

                  Has there been any cases                       (P)
                  of non compliance with the                      D. Responsibilities of the Board
         (P)      laws, rules and regulations       Tidak No
         A.7.1    pertaining to material related                     (P) Compliance with listing rules,
                  party transactions in the past                     D.1 regulations and applicable laws
                  three years?




242       LAPORAN TAHUNAN 2025
Page 243
                                                                                                      PT Duta Pertiwi Tbk




Deskripsi                                        Halaman    Deskripsi                                              Halaman
Description                                        Page     Description                                              Page


                Is there any evidence that the                                  Has the chairman been the
                                                                       (P)
                company has not complied                                        company CEO in the last            Tidak No
                                                                       D.4.1
        (P)     with any listing rules and                                      three years?
                                                 Tidak No
        D.1.1   regulations     apart    from
                disclosure rules over the past                                  Do non-executive directors/
                year?                                                  (P)      commissioners       receive        Tidak No
                                                                       D.4.2    options, performance shares
                Have    there   been     any                                    or bonuses?
                instances     where     non-
                executive          directors/               APPENDIX
        (P)
                commissioner have resigned       Tidak No
        D.1.2
                and raised any issues
                of       governance-related                            Do shareholders have the right to
                                                              App
                concerns?                                              participate in:

   (P)                                                                          Amendments       to     the
       Board Structure                                          App A.2.1                                           Ya Yes
   D.2                                                                          company's constitution?

                Does the Company have                                           The     authorization        of
                any independent directors/                      App A.2.2                                           Ya Yes
                                                                                additional shares?
                commissioners who have
        (P)
                served for more than nine         Ya Yes                        The transfer of all or
        D.2.1
                years or two terms of five                                      substantially all assets, which
                years each (which ever is                       App A.2.3                                           Ya Yes
                                                                                in effect results in the sale of
                higher) in the same capacity?                                   the company?

                Did    the  company     fail                                    Does the company's ordinary
                to correctly identify the                       App B.1.1       or common shares have one           Ya Yes
        (P)     description  of all   their                                     vote for one share?
                                                 Tidak No
        D.2.2   directors as independent,
                non-executive,         and                                      Does the company have
                executive?                                                      policies    and/or     rules
                                                                                prohibiting       directors/
                                                                                commissioners           and
                Does the company have any                       App B.3.1                                           Ya Yes
                                                                                employees to benefit from
                independent directors/non-                                      knowledge which is not
        (P)     executive/commissioners          Tidak No                       generally available to the
        D.2.3   who serve on a total of more                                    market?
                than five boards of publicly-
                listed companies?
                                                                                Does the company have a
                                                                                policy requiring directors /
   (P)
       External Audit                                                           commissioners to disclose
   D.3                                                          App B.4.1                                           Ya Yes
                                                                                their interest in transactions
                                                                                and any other conflicts of
                Is any of the directors or
                                                                                interest?
                senior management a former
        (P)
                employee or partner of the       Tidak No
        D.3.1
                current external auditor (in                                    Attendance details of each
                the past 2 years)?                                              director/commissioner    in
                                                                App D.2.6       all directors/commissioners         Ya Yes
   (P)                                                                          meetings held during the
       Board Structure and Composition                                          year
   D.4


                                                            N/A Not available




                                                                                        2025 ANNUAL REPORT             243
Page 244
 Ladoria Dovia
 Grand Wisata • Bekasi




Laporan
Keuangan
Financial Statements
Page 245
20
25
Page 246
PT Duta Pertiwi Tbk
dan Entitas Anak/and its Subsidiaries

Laporan Keuangan Konsolidasian/
Consolidated Financial Statements

Untuk Tahun-tahun yang Berakhir 31 Desember 2025 dan 2024/
For the Years Ended December 31, 2025 and 2024
Page 247
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK/
PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
DAFTAR ISI/TABLE OF CONTENTS



                                                                                             Halaman/
                                                                                               Page

Laporan Auditor Independen/
Independent Auditors’ Report

Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian
PT Duta Pertiwi Tbk dan Entitas Anak untuk Tahun-tahun yang Berakhir 31 Desember 2025 dan
2024/
The Directors’ Statement on the Responsibility for Consolidated Financial Statements of
PT Duta Pertiwi Tbk and Its Subsidiaries for the Years Ended December 31, 2025 and 2024


LAPORAN KEUANGAN KONSOLIDASIAN – Untuk Tahun-tahun yang Berakhir 31 Desember
   2025 dan 2024/
CONSOLIDATED FINANCIAL STATEMENTS – For the Years Ended December 31, 2025 and
   2024

    Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position          1

    Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian/Consolidated
      Statements of Profit or Loss and Other Comprehensive Income                                3

    Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity         4

    Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows                         5

    Catatan atas Laporan Keuangan Konsolidasian/Notes to Consolidated Financial Statements       6
Page 248
MIRAWATI SENSI IDRIS                                                                                   MOORE
Registered Public Accountants
Business License No. 1353/KM.l/2016
lntiland Tower, 8th Floor
JI. Jenderal Sudirman, Kav 32
Jakarta - 10220
INDONESIA

T +62-21-570 81ll
F +62-21-572 2737




                 Laporan Auditor lndependen                             Independent Auditors' Report


    No. 00140/2.1090/AU.1/03/1905-2/1/111/2026              No. 00140/2.1090/AU.1 /03/1905-2/1 /111/2026

    Pemegang S;:iham, Dewan Komisaris, dan Direksi          The Stockholders, Board of Commissioners, and
                                                            Directors
    PT Duta Pertiwi Tbk                                     PT Duta Pertiwi Tbk

   Opini                                                    Opinion

   Kami     tel ah   mengaudit     la po ran  keuangan      We have audited the consolidated financial statements
   konsolidasian PT Duta Pertiwi Tbk dan entitas            of PT Duta Pertiwi Tbk and its subsidiaries (the Group),
   anaknya (Grup), yang terdiri dari laporan posisi         which comprise the consolidated statement of financial
   k.euangan konsolidasian tanggal 31 Desember 2025,        position as atDecember 31, 2025, and the consolidated
   serta laporan laba rugi dan penghasilan komprehensif     statement of profit or loss and other comprehensive
   lain konsolidasian, laporan perubahan ekuitas            income, consolidated statement of changes in equity
   konsolidasian, dan laporan arus kas konsolidasian        and consolidated statement of cash flows for the year
   untuk tahun yang berakhir pada tanggal tersebut,         then ended, and notes ' to the ·consolidated financial
   serta catatan atas laporan keuangan konsolidasian,       statements, . including material accounting policy
   termasuk informasi kebijakan akuntansi material.         information. ,

   Menurut opini kami, laporan keuangan konsolidasian       In our opinion, the accompanying consoJidated financial
   terlampir menyajikan secara wajar, dalam semua hat       statements present fairly, in all material respects,
   yang material, posisi keuangan . konsolidasian Grup      the consolidated financial position of the Group as at
   tanggal ·31 Desember 2025, serta kinerja keuangan        December 31 , 2025 and its consolidated financial
   konsolidasian dan arus kas konsolidasiannya untuk        performance and its consolidated cash flows for the
   tahun yang berakhir . pada .tanggal tersebl,Jt, sesuai   year then • ended in accordance with Indonesian
   dengan Standar Akuntansi Keuangan di Indonesia.          Financial Accounting Standards. ·

    Basis Opioi                                             Basis for Opinion

   Kami melaksanakan audit kami berdasarkan Standar         We conducted our audit in accordance .with Standards
   Audit yang ditetapkan . oleh lnstitut Akuritan Publik    on Auditing established by the Indonesian Institute of
   Indonesia. Tanggung jawab kami menurut stahdar           Certified Public Accountants. Our responsibilities under
   tersebut diuraikan lebih lanjut dalam paragraf           those standards are further described in the Auditors'
   Tanggung Jawab Auditor terhadap Audit atas Laporan       Responsibilities for the Audit of the Consolidated
   Keuangan Konsolidasian pada laporan kami. Kami           Finan.cial Statements section of our report. We are
   independen terhadap Grup berdasarkan .ketentLian         independent of the Group in accordance, with the ethical
   etika yang relevan da,lam audit kami atas laporan        requirements that are relevant to our audit .of the
   keuangan di Indonesia, dan, kami telah . memenuhi        finanCial statements in Indonesia, and we have fulfilled
   tanggung jawab etika, lainnya berdasarkan ketentuan      our other ethical responsibilities in accordance with
   tersebi.Jt. Kami yakin bahwa · bukti audit yang telah    these requirements. We believe that the audit evidence
   kami · peroleh adalah cukup dan tepat untuk              we have obtained is sufficient and appropriate to
   menyediakan suatu basis bagi opini audit kami.           provide a b.asis for our opinion.

    Hal Audit Utama                                         Key Audit Matters

    Hal · audit utama adalah hal-hal 'yang, · memirut       Key audit matters are those matter that, in our
    pertimbangan profesional kami, merupakan hat yang       professional judgment, were of most significance in our
    paling signifikan dalam audit kami atas laporan         audit of the consolidated financial statements of the
    keuangan konsolidasian periode ini. Hal-hat tersebut    current period. These matters were addressed in the
    disampaikan dalam konteks audit kami atas laporan       context of our audit of the consolidated financial
    keuangan konsolidasian secara keseluruhan, dan          statements as a whole, and in forming our opinion
    dalam merumuskan opini kami atas laporan keuangan       thereon, and we do not provide a separate opinion on
    konsolidasian terkait, · kami tidak menyatakan suatu    these matters.
    opini terpisah atas hal audit utama tersebut.




                                                                                             An independent member of
                                                                                          Moore Global Network Limited -
                                                                          members in principal cities throughout the world
Page 249
MIRAWATI SENSI IDRIS                                                                                                 MOORE


  Penqakuan Pendapatan                                               Revenue Recognition

  Lihat ke Catatan 2u - Kebijakan Akuntansi atas                     Refer to Note 2u - Accounting Policies on Revenue
  Pengakuan   Pendapatan dan Catatan 33                              Recognition and Note 33 - Revenues.
  Pendapatan Usaha.

 Pendapatan Grup untuk tahun yang berakhir                           The     Group   revenues    for  the   year  ended
 31      Desember       2025     adalah       sebesar                December        31 ,     2025      amounted       to
 Rp 2.733.020.950.417. Pendapatan Grup terutama                      Rp 2,733,020,950,417. The Group's revenues were
 berasal dari penjualan persediaan real estat sebesar                mainly from the sales of real estate inventories
 Rp 1.912.123.005.917 atau sebesar 69,96% dari                       amounting to Rp 1,912, 123,005,917 or 69.96% of the
 jumlah pendapatan.                                                  total revenues.

 Kami menganggap proses, kebijakan dan prosedur                      We considered the Group's real estate revenue
 pengakuan penjualan real esiat Grup signifikan bagi                 recognition process, policies and procedures significant
 audit kami karena hal ini •melibatkan · penerapan                   to our audit because · this involves application of
 pertimbangan dan estimasi · signifikan dalam aspek-                 significant judgment and estimation in the following
 aspek berikut: a) penentuan harga transaksi; · dan                  aspects: a) determination of the transaction price; and
 b) pengakuan pendapatan pada suatu titik waktu                      b) point in time recognition of revenues based on point
 bedasarkan pengalihan pengendalian aset pada suatu                  in time transfer of the control of the asset (point in time
 titik  waktu   tertentu     (pemenµhan       kewajiban              satisfaction of performance obligation).
 pelaksanaan pada suatu titik waktu tertentu).

  Dalam     penentuan · harga      transaksi;   Grup                 In determining the transaction price, the Group
  mempertimbangkan      apakah    harga    jual  dari                considers whether the selling price of the real estate
  persediaan   real   estat    termasuk     komponen                 inventories includes significant financing component.
  pembiayaan yang signifikan.

 Grup juga mengevaluasi kapan pengendalian atas                      The Group also evaluates as to when the control over
 persediaan telah dialihkan ke pelanggan sebagai                     the inventories has been transferred to the customer as
 dasar penentuan pengakuan penjualan, yakni                          basis .of the ·timing of the revenue recognition, point in
 pengakuan pada suatu titik ·waktu · atau sepanjang                  time or over time recognition. Revenue from the sale of
 waktu. Pendapatan dari penjualan persediaan diakui                  inventories is recognized at a point in time when
 pada suatu titik waktu pada saat persediaan                         inventories are delivered to the customers. The timing
 diserahkan kepada pelanggan. Penentuan waktu                        of revenue recognition requires judgment on whether
 pengakuan penjualari . membutuhka.n pertimbangan                    the Group has transferred significant risks and rewards
 apakah Grup telah niengalihkan risiko dan manfaat                   of ownership in .the inventories to the .customers and
 kepemilikan persediaan secara signifikan kepada                     whether the Group has a substantial continuing
 pelanggan dan apakah Grup masiti memiliki                           involvement with the inventories.
 keterlibatan yang berkelanjutan atas persediaan.

  Bagaimana aµdit kami merespons h:a1 audit t..itama                 How our audit addressed the key ·audit matters

  •   Kami me11ilai keseluruhan ·proses penjualan serta              • We assessed th.e overall sales process and the
      sistem dan desain pengendalian yang relevan atas                 relevant systems and the design of controls over the
      perolehan dan pencatatan transaksi pendapatan.                   capture and recording of revenue transactions. We
      Kami telah menguji keefektifan pengendalian                      have tested the effectiveness of key controls on the
      utama pada proses yang berkaitan dengan                          processes related to revenue recognition and
      pengakuan . pendapatan dan melakukan pengujian                   performed test • of details of . samples of sales
      rinci atas sampel transaksi .penjualan.                          transactions.

  •   Kami    membaca     kontrak • penjualan •dan                   • We. read . the sales : contracts and applied our
      menerapkan pemahaman l<.ami tentang kontrak ini                  understanding of these contracts in assessing the
      dalam    menilai  kelengkapan · dan . akurasi                    completeness and accuracy · of revenues. In
      pendapatan. Secara khusus, pemahaman kami                        particular, our understanding . also enabled us to
      juga mernungkinkan kami untuk mengevaluasi                       evaluate the judgments used in determining the
      pertimbangan yang digunakan dalam menentukan                     timing ofthe revenue recognition.
      waktu pengakuan pendapatan.

  •   Dalam penentuan harga transaksi, kami mernilih                 • For. the determination of the transaction price, we
      sampel kontrak dari data . kontrak perijualan : dan              selected sample contracts from the. sales contract
      mengidentifikasi ketentuan pembayaran. . Kami                    database and identified the payment terms. We
      menelusuri kontrak terpilih ini ke perhitungan                   traced these selected contracts to the calculation of
      komponen . pembiayaan · yang disiapkan oleh                      the financing component prepared by management,
      manajemen, yang meliputi perhitungan apakah                      which covers the calculation on whether the financing
      komponen pembiayaan dari kontrak Grup dengan                     component of the Group's contract with customers is
      pelanggan adalah signifikan. Kami menguji                        significant. We test computed the financing
      perhitungan    komponen      pembiayaan      yang                component prepared by management.
      disiapkan oleh manajemen.



                                                            - ii -
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MIRAWATI SENSI IDRIS                                                                                                MOORE


  Penilaian persediaan real estat dan tanah yang belum          Valuation of real estate inventories and land for
  dikembanqkan                                                  development

  Lihat ke Catatan 2k dan 2n - Kebijakan Akuntansi                  Refer to Notes 2k and 2n - Accounting Policies on
  atas    Persediaan    dan    Tanah    yang   Belum                Inventories and Land for Development, Note 8 -
  Dikembangkan, Catatan 8 - Persediaan dan                          Inventories and Note 13 - Land for Development.
  Catatan ,13 - Tanah yang Bell.im Dikembangkan.

  Pada tanggal 31 Desember 2025, jumlah persediaan              As of December 31, 2025, the Group's real estate
  real estat dari tanah yang belum dikembangkan Grup            inventories and land for development amounted to
  masing-masirig sebesar Rp 3.762.744.542.458 · dan             Rp 3,762,744,542,458 and Rp 4,809,836,290,249,
  Rp 4.809.836.290.249. Persediaan , real · estat dan           respectively. Real estate inventories and land for
  tanah yang belum dikembangkan dinyatakan                      development are stated at cost or net realizable value,
  berdasarkan biaya atau nilai . realisasi bersih, mana         whichever is lower.
  yang lebih rendah.                                 ·

  Kami fokus pada areci ini karena penentuan estimasi           We focused· on this area because the determination of
  nilai realisasi bersih dari persediaan sangat                 estimated net realizable value of these inventories is
  tergantung . pada ekspetasi Grup atas harga ji.Jal            critically dependent upon the Group's expectations of
  persediaan di masa me.ndatang. Fluktuasi pada harga           future selling prices. Fluctuations in property prices and
  properti dan perubahan dari permintaan atas properti          changes in demand for the property could lead to a
  dapat menghasilkan penurunan signifikan pada .nilai           significant decline in the net realizable value.
  realisasi bersih.    ·

  Bagaimana avdit kami inerespons ha/ audit utama                   How our audit addressed the key .audit matter
                                     .   .          .
  •   Kami mereviu perielaahan manajemen mengenai                   • We reviewed management's assessment on whether
      apakah . ·terdapat • indikasi penurunan nilai                   there is any indication of the decline in value of the
      persediaan dan tanah yang belum dikembangkan                    Group's inventories and land for development. We
      Grup. Kami melakukan diskusi mendetail dengan                   conducted a detailed discussion with the Group's key
      manajemen kunci Grup dan mempertimbangkan                       management and considered their views on possible
      pandangan     mereka . tentang     kemungkinan                  decline in value of the Group's inventories and land
      penurunan nilai persediaan dan tanah yang belum                 for development in light of the current economic
      dikembangkan      Grup     sehubungan· dengan                   environment.
      lingkungan ekonomi saat irii.

  •   Kami fOkus pada persediaan dengan penjualan                   • We focused on inventories with slower sales and
      yang lebih lambat dan membandingkan harga jual                  compared the selling prices to recently transacted
      dengan harga transaksi terbaru dari properti                    price of .comparable properties located in the same
      sebanding yang terletak di lokasi yang sama                     vicinity as the Group's project.
      dengan proyek Grup.

  lnformasi Lain                                                    Other Information

  Manajerhen bertanggung jawab atas informasi lain.                 Management is responsible for the other information.
  lnformasi tain terdiri dari informasi yang tercantum              The other Information consists of information contained
  dalam Laporan Tahunan, tetapi tidak mencantumkan                  in the Annual Report but does not include the
  laporan keuangan konsolidasian dan laporan auditor                consolidated financial statements and our auditor's
  kami. Laporan Tahunan diharapkan akan tersedia                    report. The ·Annual Report is expected to be made
  bagi kami setelah tanggal laporan auditor ini.                    available to us after the date of this auditor's report.

  Opini kami at~s laporan keuangan konsolidasian tidak              Our. 6pinio·n on the consolidated , financial statements
  mencakup informasi lain, dan oleh karena itu, kami                does not cover the other information and we do not and
  tidak menyatakan berituk keyakinan apapun atas                    will not express any form of 'assurance conclusion
  informasi lain tersebut.                  ·                       thereon.

  Sehubungan . dengan audit kami atas . laporan                     In connection with our audit of the consolidated financial
  keuangan korisolidasian, tanggung jawab kami adalah               statements, our responsibility is to read the other
  untuk membaca informasi lainjika tersedia dan, dalam              information when it becomes available a·nd, in doing so,
  melaksanakannya,      mempertimbangkan       apakah               consider whether the other information is materially
  informasi lain mengandung ketidakkonsistensian                    inconsistent with the consolidated financial statements
  material dengan laporan keuangan konsolidasian atau               or our knowledge obtained in the audit, or otherwise
  pemahaman yang kami peroleh selama audit, atau                    appears to be materially misstated.
  mengandung kesalahan penyajian material.




                                                          - iii -
Page 251
MIRAWATI SENSI IDRIS                                                                                           MOORE


 Ketika kami membaca Laporan Tahunan, jika kami                  When we read the Annual Report, if we conclude that
 menyimpulkan bahwa terdapat suatu kesalahan                     there is a material misstatement therein, we are
 penyajian material di dalamnya, kami diharuskan                 required to communicate the matter to those charged
 untuk mengornunikasikan hal tersebut kepada pihak               with governance and take appropriate actions in
 yang bertanggung jawab atas tata kelola dan                     accordance with Standards on Auditing established by
 mengambil tindakan tepat berdasarkc:m Standar Audit             the Indonesian Institute of Certified Public Accountants.
 yang ditetapkan oleh lnstitut Akuntan Publik
 Indonesia.

 Tanggung Jawab Manajemen dan Pihak yang                         Responsibilities ·of Management and Those
 Bertangguna Jawab atas Tata Kelola terhadap                     Charged with Governance for the Consolidated
 Laporan Keuangan Konsolidasian                                  Financial Statements  ·

 Manajemen bertanggung jawab atas penyusunan dan                 Management is responsible for the preparation and fair
 penyajian wajar laporan keuangan konsolidasian                  presentation of the consolidated financial statements in
 tersebut sesuai dengan Standar Akuntansi Keuangan               accordance with . Indonesian Financial Accounting
 di Indonesia, · dan atas pengendalian internal yang             Standards, and for such internal control as
 dianggap perlu oleh manajemen untuk memungkinkan                management . determines is necessary to enable the
 penyusunan laporan keuangan konsolidasian yang                  preparation of consolidated financial statements that are
 bebas dari kesalahan penyajian material, baik yang              free· from material misstatement, whether due to fraud
 disebabkan o!eh kecurangan maupun kesalahan.                    or error.

  Dalam penyusunan laporan .keuangan konsolidasian,              In preparing the consolidated financial statements,
  manajemen bertanggung jawab untuk menilai                      management is responsible for assessing the Group's
  kemampuan         Grup     dalam    mempertahankan             ability to continue as a going concern, disclosing, as
  kelangsungan usahanya, mengungkapkan, sesuai                   applicable, matters related to going concemand using
  dengan konqisinya, hal-hal yang berkaitan dengan               the · going concern basis of accounting unless
  kelangsungan usaha, dan menggunakan basis                      management either intends to liquidate the Group or to
  akuntansi kelangsungah usaha, kecuali manajemen                cease operations, or has no realistic alternative but to
  memiliki intensi untuk melikuidasi Grup atau                   do so~                   '
  menghentikan operasi, atau tidak memiliki altematif
  yang realistis selain melaksanakannya.

  Pihak yang .bertanggung jawab • atas tata kelola               Those charged with governance are responsible for
  bertanggung jawab . untuk men·gawasi proses                    overseeing the Group's financial reporting process.
  pelaporan keuangan Grup.
    .    .                      .
  Tanggung . Jawab Auditor terhadap Audit atas                   Auditors' Responsibilities for the Audit of the
  Laporan Keuangan Konsolidasian :                               Consolidated Financial ·Statements

 Tujuan kami . adalah untuk memeroleh keyakinan                  Our objectives are to ·obtain reasonable assurance
 memadai tentang         apakah    laporan      keuangan         about whether the consolidated financial statements as
 konsolidasian secara keseluruhan bebas dari                     a whole are free from material misstatement, whether
 kesalahan penyajian material; baik yang disebabkan              due . to fraud or error, and to issue an auditor's report
 oleh kecurangan maupun kesalahan, dan untuk                     that includes our opinion. Reasonable assurance is a
 menerbitkan laporan auditor yang mencakup opini                 high level of assurance, but is not a guarantee that an
 kami. Keyakinan memadai merupakan suatu tingkat                 audit conducted in accordance with Standards on
 keyakinan tiriggi, namun bukan merupakan suatu                  Auditing will always detect a material misstatement
 jamlnan ·bahvva audit yang dilaksanakan berdasarkan             when it exists. Misstatements can arise from fraud or
 Standar Audit akan selalu •mendeteksi kesalahan                 error and are considered material if, individually or in
 penyajian material ketika hal tersebut ada .•Kesalahan          the aggregate, they could reasonably be expected to
 penyajian dapat disebabkan oleh kecurangan maupun               influence the economic decisions of users taken on the
 kesalahan dan dianggap material jika, baik secara               basis of these consolidated financial statements.
 individual   rnaupun . secara       . agregat,     dapat
 diekspektasikan secara wajar akah mernengaruhi
 keputusan ekonomi yang ·diambil · oleh pengguna
 berdasarkan     laporan    keuangan       konsolidasian
 tersebut.                      ·




                                                            - iv -
Page 252
MIRAWATI SENSI IDRIS                                                                                              MOORE


 Sebagai bagi~n dari suatu audit berdasarkan Standar               As part of an audit in accordance with Standards on
 Audit, kami menerapkan pertimbangan profesional                   Auditing, we exercise professional judgment and
 dan mempert~hankan skeptisisme profesional selama                 maintain professional skepticism throughout the audit.
 audit. Kami juga:                                                 We also:

 •    Mengidentifikasi dan menilai risiko kesalahan                •   Identify and assess the risks of material
      penyajian material dalam laporan keuangan                        misstatement of the consolidated financial
      konsolidasian, baik yang disebabkan oleh                         statements, whether due to fraud or error, design
      kecurangan maupun kesalahan, ·mendesain dan                      and perform audit procedures responsive to those
      melaksanakan prosedur audit yang responsif                       risks, and obtain audit evidence that is sufficient
      terhadap risiko tersebut, . serta memeroleh bukti                and appropriate to provide a basis for our opinion.
      audit yang cukup dan te:pat untuk menyediakan                    The risk of not detecting a material misstatement
      basis bagi opini kami. Risiko tidak terdeteksinya                resulting from fraud is higher than for one resulting
      kesalahan penyajian material yang disebabkan                     from error, .as. fraud may involve collusion, forgery,
      oleh kecurangan lebih tinggi dari yang                           intentional omissions, misrepresentations, or the
      disebabkan oleh kesalahan, karena kecurangan                     override of internal control.
      dapat      melibatkan       kolusi,   pemalsuan,
      penghilangan secara sengaja, pernyataan salah,
      atau pengabaian pengendalian internal.

 •    Memeroleh      suatu     pemahaman       tentang             •   Obtain an understanding of internal control relevant
      pengendalian internal yang relevan dengan audit                  to the audit in order to design audit procedures that
      untuk m.endesairi . prosedur . audit yang tepat                  are appropriate in the circumstances, but not for
      sesuai dengan kondisinya, tetapi bukan untuk                     the purpose of expressing an opinion on the
      tujuan menyatakan opini atas keefektivitasan                     effectiveness of the Group's internal control.
      pengendalian internal Grup.

  •   Mengevaluasi ketepatan kebijakan :akuntansi                  •   Evaluate the appropriateness of accounting policies
      yang djgunakan serta kew(jljaran estimasi                        used and the reasonableness of accounting
      akuntansi dan pengungkapan terkait yang dibuat                   estimates and related disclosures made by
      oleh manajemen.                                                  management.·                ·

  •   Menyimpulkan ketepatan penggunaan basis                      •   Conclude on the appropriateness of management's
      akuntansi kelangsungan usaha oleh manajemen                      use of the going concern basis of accounting and,
      dan, berdasarkan bukti . audit yang diperoleh,                   based on the audit evidence obtained, whether a
      apakah terdapat suatu ketidakpastian material                    material uncertainty exists related to events or
      yang terkait .dengan peristiwa atau kondisi yang                 condiHons that may cast significant doubt on the
      dapat menyebabkan keraguan . signifikan .atas                    Group's ability to continue as a going concern. If
      kemampuan       Grup untuk mempertahankan                        we conclude that a material . uncertainty exists, we
      kelangsungan       usahanya.     · Ketika     kami               are required to draw attention in our auditor's report
      menyimpulkan        bahwa      terdapat .    suatu               to the ·related disclosures in the· consolidated
      ketidakpastian material, kami diharuskan untuk                   financial statements or, if such disclosures are
      menarik perhatiari dalam ·1aporari auditor kanii :ke             inadequate, to modify our opinion. Our conclusions
      pengungkapan .terkait dalam laporan !<eualigan                   are based on the audit evidence obtained up to the
      konsolidasian ·atau; jika pengungkapari tersebut                 date of our auditor's report. However, future events
      tidak me111adai, harus menentukan apakah perlu                   or conditions . may cause the Group to cease to
      untuk memodifikasi opini kami. Kesimpulan kami                   continue as a going concern.
      didasarkari pada bukti : audit ·yang .diperoleh
      hingga tanggal laporan : auditor kami. Namun,
      peristiwa atau .kondisi : masa depan dapat
      menyebabkan Grup tidak dapat mempertahankan
      kelangsungan usaha.

  •   Mengevaluasi penyajian, struktur, dan isi laporan            •   Evaluate the overall presentation, structure and
      keuangan konsolidasian secara keseluruhan,                       content of the consolidated financial statements,
      termasuk pengungkapannya, dan apakah laporan                     including the disclosures, and whether the
      keuangan konsolidasian mencerminkan transaksi                    consolidated financial statements represent the
      dan peristiwa yang mendasarinya dengan suatu                     underlying transactions and events in a manner
      cara yang mencapai penyajian wajar.                              that achieves fair presentation.

  •   Memeroleh bukti audit yang : cukup dan tepat                 •   Obtain . sufficient appropriate audit evidence
      terkait informasi keuangan entitas atau aktivitas                regardirig the financial information of the entities or
      bisnis dalam Grup · untuk menyatakan opini atas                  business activities within the Group to express an
      laporan      keuangan     konsolidasian.   Kami                  opinion on the consolidated financial statements.
      bertanggung jawab atas arahan·, supervise, dan                   We are responsible for the direction, supervision
      pelaksanaan audit Grup. Kami tetap bertanggung                   and performance of the group audit. We remain
      jawab sepenuhnya atas opini audit kami.                          solely responsible for our audit opinion .




                                                             -v-
Page 253
MIRAWATI SENSI IDRIS                                                                                                 MOORE


 Kami      mengomunikasikan      kepada      manajemen              We communicate with management regarding, among
 mengenai, antara lain, ruang lingkup dan saat yang                 other matters, the planned scope and timing of the audit
 direncanakan atas audit, serta temuan audit                        and significant audit findings, including any significant
 signifikan, termasuk setiap defisiensi signifikan dalam            deficiencies in internal control that we identify during our
 pengendalian internal yang teridentifikasi oleh kami               audit.
 selama audit.

 Kami juga rnemberikan suatu perilyataan kepada                     We also provide those charged with governance with a
 pihak yang bertanggung jawab atas tata kelola bahwa                statement that we have complied ·with relevant ethical
 kami telah mematuhi keterituan etika yang relevan                  requirements    regarding  independence,     and to
 mengenai independensi, dan mengomunikasikan                        communicate with them : all relationships and other
 seluruh hubungan, serta hal-hal lain yang dianggap                 matters that may reasonably be thought to bear on our
 secara wajar .berpengaruh terhadap independensi                    independence,     and where      applicable,   related
 kami, dan, jika relevan, pengamanan terkait.     ·                 safeguards.

 Dari hal.:.hal y~ng dikornunikasikan kepada pihak yang             From the matters communicated with those charged
 bertanggung jawab atas tata kelola, k~mi menentukan                with governance, we determine those matters that were
 hal-hal tersebut yang paling . signifikan dalam audit              of most significance in the audit of the consolidated
 atas laporan keuangan konsolidasian periode kini dan               financial statements of the current period and are
 oleh karenanya . menjadi hal audit utama. Kami                     therefore the key audit matters. We describe these
 menguraikan hal audit utama dalam laporan auditor                  matters in our auditor's report unless law or regulation
 kami,      kecuali    peraturan    perundang-undangan              precludes public disclosure about the matter or when, in
 melarang pengungkapan publik tentang hal tersebut                  extremely rare circumstances, we determine that a
 atau ketika, dalam kondisi yang sangat jarang terjadi,             matter should not be communicated . in our report
 kami menentukan . bahwa : suatu hal tidak boleh                    because the adverse consequences of doing so would
 dikomunikasikan daJam laporan kami . karena                        reasonably be expected to outweigh the public interest
 konsekuensi merugikan dari mengornunikasikan hal                   benefits of such communication.
 tersebut akari diekspektasikan secara wajar melebihi
 manfaat kepentingan publik atas komunikasi tersebut.


 MIRAWATI St=NSI IDRIS




 Benedictus Yuliando
 lzin Akuntan Publik No. AP .1905/
 Certified Public Accountant License No. AP. 1905

 5 Maret 2026/March 5, 2026




                                                           - vi -
Page 254

          
Page 255
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                                                           Consolidated Statements of Financial Position
31 Desember 2025 dan 2024                                                                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)                                      (Figures are Presented in Rupiah, unless Otherwise Stated)



                                                                               Catatan/
                                                          2025                  Notes                    2024

ASET                                                                                                                       ASSETS

ASET LANCAR                                                                                                                CURRENT ASSETS

Kas dan setara kas                                   3.533.269.319.671            4                 2.525.242.591.791      Cash and cash equivalents
Investasi jangka pendek                                207.630.559.713            5                   240.430.996.774      Short-term investments
                                                                                                                           Trade accounts receivable - net of
Piutang usaha - setelah dikurangi                                                                                             allowance for impairment of
   cadangan kerugian penurunan                                                                                                Rp 1,755,724,161 and
   nilai masing-masing sebesar                                                                                                Rp 1,773,262,271 as of
   Rp 1.755.724.161 dan Rp 1.773.262.271                                                                                      December 31, 2025 and 2024,
   pada tanggal 31 Desember 2025 dan 2024                                       6, 49                                         respectively
   Pihak berelasi                                        3.754.165.000                                 10.680.162.352         Related parties
   Pihak ketiga                                         19.633.731.881                                 11.970.761.989         Third parties
Piutang lain-lain - setelah dikurangi                                                                                      Other accounts receivable - net of
   cadangan kerugian penurunan                                                                                                allowance for impairment of
   nilai masing-masing sebesar                                                                                                Rp 8,354,934 and
   Rp 8.354.934 dan Rp 11.191.564                                                                                             Rp 11,191,564 as of
   pada tanggal 31 Desember 2025                                                                                              December 31, 2025 and 2024,
   dan 2024                                              7.399.637.479           7                      7.032.878.579         respectively
Persediaan                                           3.763.584.207.457           8                  3.358.168.471.542      Inventories
Uang muka                                              322.283.035.756           9                    151.367.671.319      Advances
Pajak dibayar dimuka                                   303.444.213.365           10                   311.694.528.511      Prepaid taxes
Biaya dibayar dimuka                                    32.128.808.716           11                    24.726.987.812      Prepaid expenses
Jumlah Aset Lancar                                   8.193.127.679.038                              6.641.315.050.669      Total Current Assets

ASET TIDAK LANCAR                                                                                                          NONCURRENT ASSETS

Investasi dalam saham                                  583.823.725.816           12                   607.375.528.340      Investments in shares
Piutang lain-lain - setelah dikurangi                                                                                      Other accounts receivable - net of
   cadangan kerugian penurunan                                                                                                allowance for impairment of
   nilai masing-masing sebesar                                                                                                Rp 16,828,759,742 and nil
   Rp 16.828.759.742 dan nihil pada                                                                                           as of December 31, 2025
   tanggal 31 Desember 2025 dan 2024                    67.944.243.993          7, 49                  55.911.857.584         and 2024, respectively
Biaya dibayar dimuka                                     7.361.277.455           11                     7.988.590.449      Prepaid expenses
Tanah yang belum dikembangkan                        4.809.836.290.249           13                 4.644.449.258.544      Land for development
Aset tetap - setelah dikurangi
   akumulasi penyusutan                                                                                                    Property and equipment - net of
   masing-masing sebesar                                                                                                      accumulated depreciation of
   Rp 712.204.634.354 dan                                                                                                     Rp 712,204,634,354 and
   Rp 692.379.222.691 pada                                                                                                    Rp 692,379,222,691 as of
   tanggal 31 Desember 2025                                                                                                   December 31, 2025 and 2024,
   dan 2024                                            205.412.153.724           14                   220.233.584.891         respectively
Aset hak-guna - setelah dikurangi                                                                                          Right-of-use assets - net of
   akumulasi penyusutan                                                                                                       accumulated depreciation
   masing-masing sebesar                                                                                                      of Rp 5,208,241,388 and
   Rp 5.208.241.388 dan                                                                                                       Rp 9,153,008,749 as of
   Rp 9.153.008.749 pada tanggal                                                                                              December 31, 2025 and 2024,
   31 Desember 2025 dan 2024                             3.831.338.298           15                     1.737.316.627         respectively
Properti investasi - setelah dikurangi
   akumulasi penyusutan                                                                                                    Investment properties - net of
   masing-masing sebesar                                                                                                      accumulated depreciation of
   Rp 1.250.403.186.017 dan                                                                                                   Rp 1,250,403,186,017 and
   Rp 1.134.666.841.531 pada                                                                                                  Rp 1,134,666,841,531 as of
   tanggal 31 Desember 2025                                                                                                   December 31, 2025 and 2024,
   dan 2024                                          2.259.877.327.242           16                 2.169.596.233.350         respectively
Goodwill                                                 9.302.932.297           17                     9.302.932.297      Goodwill
Aset lain-lain                                           5.176.607.800                                  4.486.867.800      Other assets
Jumlah Aset Tidak Lancar                             7.952.565.896.874                              7.721.082.169.882      Total Noncurrent Assets

JUMLAH ASET                                         16.145.693.575.912                             14.362.397.220.551      TOTAL ASSETS




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                          See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                        which are an integral part of the consolidated financial statements.




                                                                         -1-
Page 256
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                                                           Consolidated Statements of Financial Position
31 Desember 2025 dan 2024                                                                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)                                      (Figures are Presented in Rupiah, unless Otherwise Stated)



                                                                               Catatan/
                                                          2025                  Notes                    2024

LIABILITAS DAN EKUITAS                                                                                                     LIABILITIES AND EQUITY

LIABILITAS                                                                                                                 LIABILITIES

LIABILITAS JANGKA PENDEK                                                                                                   CURRENT LIABILITIES

Utang usaha                                                                      18                                        Trade accounts payable
   Pihak berelasi                                        5.858.428.450                                              -         Related parties
   Pihak ketiga                                        213.659.575.910                                225.709.443.010         Third parties
Utang pajak                                             34.963.850.804           19                    62.579.201.968      Taxes payable
Beban akrual                                            25.545.892.998           20                    26.335.228.008      Accrued expenses
Setoran jaminan                                        161.919.964.932           21                   154.804.718.175      Security deposits
Liabilitas kontrak                                   1.231.130.951.791           22                 1.001.239.961.503      Contract liabilities
Uang muka diterima                                      80.692.954.391           23                    72.097.374.846      Advances received
Sewa diterima dimuka                                   150.819.389.281           24                   161.901.386.242      Rental advances
Bagian liabilitas sewa jangka
   panjang yang akan jatuh tempo                                                                                           Current portion of long-term
   dalam waktu satu tahun                                2.070.280.292           25                                 -         Lease liabilities
Liabilitas lain-lain                                    36.716.405.673                                  8.696.195.167      Other liabilities
Jumlah Liabilitas Jangka Pendek                      1.943.377.694.522                              1.713.363.508.919      Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                                                  NONCURRENT LIABILITIES

Liabilitas sewa jangka panjang -
   setelah dikurangi bagian yang akan                                                                                      Long-term lease liabilities -
   jatuh tempo dalam waktu satu tahun                    1.520.372.012           25                                 -         net of current portion
Setoran jaminan                                         81.900.168.722           21                    72.257.237.012      Security deposits
Liabilitas kontrak                                     242.568.488.719           22                   538.391.136.448      Contract liabilities
Uang muka diterima                                      15.401.370.068           23                    10.106.876.614      Advances received
Sewa diterima dimuka                                    97.781.955.285           24                    74.767.680.799      Rental advances
Liabilitas imbalan kerja jangka                                                                                            Long-term employee benefits
   panjang - bersih                                     80.153.864.950           36                    85.745.806.454         liability - net
Jumlah Liabilitas Jangka Panjang                       519.326.219.756                                781.268.737.327      Total Noncurrent Liabilities

Jumlah Liabilitas                                    2.462.703.914.278                              2.494.632.246.246      Total Liabilities

EKUITAS                                                                                                                    EQUITY

Ekuitas yang dapat Diatribusikan                                                                                           Equity Attributable to Owners of
  kepada Pemilik Entitas Induk                                                                                                 the Parent Company
Modal saham - nilai nominal                                                                                                Capital stock - Rp 500 par value
  Rp 500 per saham                                                                                                             per share
  Modal dasar -                                                                                                                Authorized -
      3.000.000.000 saham                                                                                                          3,000,000,000 shares
  Modal ditempatkan dan disetor -                                                                                              Issued and paid-up -
      1.850.000.000 saham                              925.000.000.000           27                   925.000.000.000              1,850,000,000 shares
Tambahan modal disetor                                 465.081.634.211           28                   465.081.634.211      Additional paid-in capital
                                                                                                                           Difference in value arising from
Selisih nilai transaksi dengan                                                                                                 transaction with non-controlling
   kepentingan nonpengendali                            19.925.419.885           29                    19.976.821.094          interest
Saldo laba                                                                                                                 Retained earnings
   Ditentukan penggunaannya                             31.589.383.000           30                    29.589.383.000          Appropriated
   Belum ditentukan penggunaannya                    9.392.382.461.127                              8.976.090.695.450          Unappropriated

Jumlah Ekuitas yang dapat
  Diatribusikan kepada Pemilik                                                                                             Total Equity Attributable to
  Entitas Induk                                     10.833.978.898.223                             10.415.738.533.755         Owners of the Parent Company

Kepentingan Nonpengendali                            2.849.010.763.411           32                 1.452.026.440.550      Non-controlling Interests

Jumlah Ekuitas                                      13.682.989.661.634                             11.867.764.974.305      Total Equity

JUMLAH LIABILITAS DAN EKUITAS                       16.145.693.575.912                             14.362.397.220.551      TOTAL LIABILITIES AND EQUITY




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                          See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                        which are an integral part of the consolidated financial statements.



                                                                         -2-
Page 257
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Laporan Laba Rugi dan Penghasilan Komprehensif                                                                    Consolidated Statements of Profit or Loss
Lain Konsolidasian                                                                                                       and Other Comprehensive Income
Untuk Tahun-tahun yang Berakhir 31 Desember 2025 dan 2024                                                 For the Years Ended December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)                                   (Figures are Presented in Rupiah, unless Otherwise Stated)



                                                                              Catatan/
                                                             2025              Notes              2024

PENDAPATAN USAHA                                        2.733.020.950.417       33           4.422.682.660.248      REVENUES
BEBAN POKOK PENJUALAN                                     901.695.510.952       34           1.812.400.561.134      COST OF REVENUES
LABA KOTOR                                              1.831.325.439.465                    2.610.282.099.114      GROSS PROFIT
BEBAN USAHA                                                                     35                                  OPERATING EXPENSES
Penjualan                                                 574.014.191.880                      693.088.073.299      Selling
Umum dan administrasi                                     481.416.378.310                      403.979.590.075      General and administrative
Pajak final                                               118.122.005.258       40             154.246.891.435      Final tax

Jumlah Beban Usaha                                      1.173.552.575.448                    1.251.314.554.809      Total Operating Expenses
LABA USAHA                                                657.772.864.017                    1.358.967.544.305      PROFIT FROM OPERATIONS
PENGHASILAN (BEBAN) LAIN-LAIN                                                                                       OTHER INCOME (EXPENSES)
Pendapatan bunga dan investasi                            138.915.964.027       37             128.112.659.156      Interest and investment income
Dampak pendiskontoan aset dan                                                                                       Effect of discounting financial assets
   liabilitas keuangan - bersih                             5.097.662.838                        1.487.773.614          and liabilities - net
Keuntungan penjualan aset tetap                               910.919.371       14                 570.051.826      Gain on sale of property and equipment
Kerugian selisih kurs mata uang asing - bersih             (3.537.125.287)                      (4.240.619.315)     Loss on foreign exchange - net
Cadangan kerugian penurunan                                                                                         Allowance for impairment of
   nilai piutang - bersih                                 (16.808.385.002)      6,7                (74.689.203)         receivables - net
Beban bunga                                              (104.564.559.413)      38            (126.030.487.673)     Interest expense
Lain-lain - bersih                                        (54.639.353.851)      39              (9.337.402.851)     Others - net
Beban Lain-lain - bersih                                  (34.624.877.317)                      (9.512.714.446)     Other Expenses - net

EKUITAS PADA LABA BERSIH DARI                                                                                       SHARE IN NET INCOME
  INVESTASI DALAM SAHAM - BERSIH                            1.240.903.392       12              27.617.515.452        OF INVESTEES - NET

LABA SEBELUM PAJAK                                        624.388.890.092                    1.377.072.345.311      PROFIT BEFORE TAX

BEBAN PAJAK KINI                                              795.636.475       40               1.541.078.976      CURRENT TAX EXPENSE

LABA TAHUN BERJALAN                                       623.593.253.617                    1.375.531.266.335      PROFIT FOR THE YEAR

PENGHASILAN (RUGI) KOMPREHENSIF                                                                                     OTHER COMPREHENSIVE INCOME
  LAIN                                                                                                                (LOSS)
Pos yang tidak akan direklasifikasi ke                                                                              Items that will not be reclassified
   laba rugi:                                                                                                          subsequently to profit or loss:
   Ekuitas pada pengukuran kembali liabilitas                                                                          Share in remeasurement of defined
      imbalan pasti dari entitas asosiasi                                                                                  benefit liability of associates and
      dan ventura bersama                                    (346.201.916)      12                  60.243.769             joint ventures
   Pengukuran kembali liabilitas imbalan                                                                               Remeasurement of defined benefit
      pasti                                                (3.946.992.696)      36              (3.377.714.777)            liability

Jumlah Rugi Komprehensif Lain                              (4.293.194.612)                      (3.317.471.008)     Total Other Comprehensive Loss

JUMLAH PENGHASILAN KOMPREHENSIF                           619.300.059.005                    1.372.213.795.327      TOTAL COMPREHENSIVE INCOME

Laba tahun berjalan yang dapat
   diatribusikan kepada:                                                                                            Profit for the year attributable to:
   Pemilik entitas induk                                  422.053.623.230                      851.769.071.955         Owners of the Parent Company
   Kepentingan nonpengendali                              201.539.630.387       32             523.762.194.380         Non-controlling interests
   Jumlah                                                 623.593.253.617                    1.375.531.266.335         Total

Jumlah penghasilan komprehensif yang                                                                                Total comprehensive income
   dapat diatribusikan kepada:                                                                                         attributable to:
   Pemilik entitas induk                                  418.291.765.677                      848.443.459.959         Owners of the Parent Company
   Kepentingan nonpengendali                              201.008.293.328       32             523.770.335.368         Non-controlling interests
   Jumlah                                                 619.300.059.005                    1.372.213.795.327         Total

LABA PER SAHAM DASAR                                                 228,14     41                       460,42     BASIC EARNINGS PER SHARE




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                         See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                       which are an integral part of the consolidated financial statements.



                                                                              -3-
Page 258
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                                                                                                                                                                                   PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                                                                                                 Consolidated Statements of Changes in Equity
Untuk Tahun-tahun yang Berakhir 31 Desember 2025 dan 2024                                                                                                                                                                                                            For the Years Ended December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)                                                                                                                                                                                               (Figures are Presented in Rupiah, unless Otherwise Stated)


                                                                                 Ekuitas yang dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Company
                                                                                                                      Selisih Nilai
                                                                                                                   Transaksi dengan
                                                                     Modal Saham                                      Kepentingan
                                                                     Ditempatkan                                    Nonpengendali/
                                                                      dan Disetor/            Tambahan            Difference in Value             Saldo Laba/Retained Earnings                                       Kepentingan
                                                                      Issued and            Modal Disetor/            Arising from             Ditentukan           Belum Ditentukan                                Nonpengendali/
                                                          Catatan/      Paid-up               Additional           Transaction with         Penggunaannya/           Penggunaannya/           Jumlah Ekuitas/       Non-controlling            Jumlah Ekuitas/
                                                           Notes     Capital Stock          Paid-in Capital     Non-controlling Interest     Appropriated             Unappropriated            Total Equity           Interests                Total Equity

Saldo pada tanggal 1 Januari 2024                                    925.000.000.000        465.081.634.211             19.977.938.029       27.589.383.000         8.832.647.235.491         10.270.296.190.731      1.190.591.015.829         11.460.887.206.560        Balance as of January 1, 2024

Penghasilan komprehensif                                                                                                                                                                                                                                                  Comprehensive income

  Laba tahun berjalan                                                               -                      -                          -                    -          851.769.071.955           851.769.071.955        523.762.194.380           1.375.531.266.335           Profit for the year

Rugi komprehensif lain                                                                                                                                                                                                                                                    Other comprehensive loss

  Pengukuran kembali liabilitas imbalan pasti                36                     -                      -                          -                    -           (3.325.611.996)            (3.325.611.996)             8.140.988              (3.317.471.008)         Remeasurement of defined benefits liability

Jumlah penghasilan komprehensif                                                     -                      -                          -                    -          848.443.459.959           848.443.459.959        523.770.335.368           1.372.213.795.327        Total comprehensive income

Pembentukan cadangan wajib                                   30                     -                      -                          -       2.000.000.000            (2.000.000.000)                          -                     -                             -     Appropriation of retained earnings

Transaksi dengan pemilik                                                                                                                                                                                                                                                  Transactions with owners

  Penambahan modal disetor entitas anak                                                                                                                                                                                                                                      Issuance of subsidiaries' shares to
    oleh kepentingan nonpengendali                           32                     -                      -                          -                    -                        -                           -       77.951.107.000              77.951.107.000              non-controlling interests

  Piutang pemesanan saham entitas anak                                                                                                                                                                                                                                       Subscription receivable of subsidiaries
     oleh kepentingan nonpengendali                          32                     -                      -                          -                    -                        -                           -        (4.900.000.000)             (4.900.000.000)           from non-controlling interests

  Selisih nilai transaksi dengan kepentingan                                                                                                                                                                                                                                 Difference in value arising from transaction
     nonpengendali                                           29                     -                      -                (1.116.935)                    -                        -                 (1.116.935)             1.116.935                             -            with non-controlling interest

  Dividen                                                   31, 32                  -                      -                          -                    -         (703.000.000.000)          (703.000.000.000)      (335.387.134.582)        (1.038.387.134.582)          Dividends

Jumlah transaksi dengan pemilik                                                     -                      -                (1.116.935)                    -         (703.000.000.000)          (703.001.116.935)      (262.334.910.647)          (965.336.027.582)       Total transactions with owners

Saldo pada tanggal 31 Desember 2024                                  925.000.000.000        465.081.634.211             19.976.821.094       29.589.383.000         8.976.090.695.450         10.415.738.533.755      1.452.026.440.550         11.867.764.974.305        Balance as of December 31, 2024

Penghasilan komprehensif                                                                                                                                                                                                                                                  Comprehensive income

  Laba tahun berjalan                                                               -                      -                          -                    -          422.053.623.230           422.053.623.230        201.539.630.387             623.593.253.617           Profit for the year

Rugi komprehensif lain                                                                                                                                                                                                                                                    Other comprehensive loss

  Pengukuran kembali liabilitas imbalan pasti                36                     -                      -                          -                    -           (3.761.857.553)            (3.761.857.553)          (531.337.059)             (4.293.194.612)         Remeasurement of defined benefits liability

Jumlah penghasilan komprehensif                                                     -                      -                          -                    -          418.291.765.677           418.291.765.677        201.008.293.328             619.300.059.005        Total comprehensive income

Pembentukan cadangan wajib                                   30                     -                      -                          -       2.000.000.000            (2.000.000.000)                          -                     -                             -     Appropriation of retained earnings

Transaksi dengan pemilik                                                                                                                                                                                                                                                  Transactions with owners

                                                                                                                                                                                                                                                                             Settlement of additional paid-up capital
  Pelunasan piutang pemesanan saham entitas anak                                                                                                                                                                                                                                of subsidiary from non-controlling
     oleh kepentingan nonpengendali                          32                     -                      -                          -                    -                        -                           -         4.900.000.000               4.900.000.000             interests

  Penambahan modal disetor entitas anak                                                                                                                                                                                                                                      Issuance of subsidiaries' shares to
    oleh kepentingan nonpengendali                           32                     -                      -                          -                    -                        -                           -      406.422.000.000             406.422.000.000              non-controlling interests

  Penjualan saham entitas anak kepada                                                                                                                                                                                                                                        Sale of subsidiaries share to
    kepentingan nonpengendali                                32                     -                      -                          -                    -                        -                           -      962.845.000.000             962.845.000.000              non-controlling interests

  Selisih nilai transaksi dengan kepentingan                                                                                                                                                                                                                                 Difference in value arising from transaction
     nonpengendali                                           29                     -                      -               (51.401.209)                    -                        -                (51.401.209)           51.401.209                              -            with non-controlling interest

  Dividen                                                    32                     -                      -                          -                    -                        -                           -      (178.242.371.676)          (178.242.371.676)          Dividends

Jumlah transaksi dengan pemilik                                                     -                      -               (51.401.209)                    -                        -                (51.401.209)     1.195.976.029.533          1.195.924.628.324        Total transactions with owners

Saldo pada tanggal 31 Desember 2025                                  925.000.000.000        465.081.634.211             19.925.419.885       31.589.383.000         9.392.382.461.127         10.833.978.898.223      2.849.010.763.411         13.682.989.661.634        Balance as of December 31, 2025



Lihat catatan atas laporan keuangan konsolidasian yang merupakan                                                                                                                                                                           See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                                                                                                                                                                         which are an integral part of the consolidated financial statements.




                                                                                                                                                                           -4-
Page 259
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Laporan Arus Kas Konsolidasian                                                                                         Consolidated Statements of Cash Flows
Untuk Tahun-tahun yang Berakhir 31 Desember 2025 dan 2024                                                     For the Years Ended December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)                                       (Figures are Presented in Rupiah, unless Otherwise Stated)



                                                                       2025                  2024

ARUS KAS DARI AKTIVITAS OPERASI                                                                               CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan kas dari konsumen                                    2.624.051.945.673       3.415.694.234.472     Cash receipts from customers
Pembayaran kas untuk:                                                                                         Cash payments for:
   Kontraktor                                                    (857.911.717.744)       (882.483.677.419)       Contractors
   Beban penjualan                                               (518.417.193.217)       (639.437.636.929)       Selling expenses
   Beban umum dan administrasi dan lain-lain                     (414.674.296.291)       (555.061.875.545)       General and administrative and other expenses
   Gaji                                                          (290.205.959.122)       (260.595.530.956)       Salaries
Kas bersih dihasilkan dari operasi                                542.842.779.299       1.078.115.513.623     Net cash generated from operations
Pembelian tanah                                                  (597.219.316.093)       (281.244.555.527)    Acquisitions of land
Pembayaran pajak final                                           (148.318.734.030)        (99.450.150.006)    Final tax paid
Pembayaran pajak penghasilan                                       (1.780.212.920)         (2.515.737.406)    Income tax paid

Kas Bersih Diperoleh dari (Digunakan untuk)                                                                   Net Cash Provided by (Used in)
   Aktivitas Operasi                                             (204.475.483.744)       694.905.070.684         Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI                                                                             CASH FLOWS FROM INVESTING ACTIVITIES
Penerimaan bunga                                                     138.086.306.399     128.565.790.210      Interest received
Pencairan investasi jangka pendek                                     32.800.437.061      37.207.316.000      Withdrawal of short-term investments
Penerimaan dividen                                                    20.400.000.000      10.200.000.000      Dividends received
Penerimaan atas pencairan investasi dalam saham                        4.046.504.000                   -      Proceeds from withdrawal of investments
Hasil penjualan aset tetap                                               910.919.371         570.051.826      Proceeds from sale of property and equipment
Pembayaran liabilitas atas perolehan                                                                          Payment for liabilities arising from
   properti investasi                                                              -         (684.153.275)       acquisition of investment properties
Pembayaran liabilitas atas perolehan                                                                          Payment for liabilities arising from
   aset tetap                                                        (463.616.723)           (262.009.310)       acquisition of property and equipment
Perolehan aset tetap                                               (8.019.300.983)        (14.214.136.409)    Acquisitions of property and equipment
Perolehan properti investasi                                     (169.579.095.328)       (239.245.185.905)    Acquisitions of investment properties

Kas Bersih Diperoleh dari (Digunakan untuk)                                                                   Net Cash Provided by (Used in)
   Aktivitas Investasi                                                18.182.153.797      (77.862.326.863)       Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN                                                                             CASH FLOWS FROM FINANCING ACTIVITIES
Penerimaan atas penjualan modal saham                                                                         Proceeds from the sale of shares of subsidiary
  entitas anak kepada kepentingan nonpengendali                      962.845.000.000                     -       to non-controlling interests
Penerimaan atas peningkatan modal saham
  entitas anak yang menjadi bagian                                                                            Proceeds from issuance of shares of
  kepentingan nonpengendali                                          406.422.000.000      73.051.107.000         subsidiary to non-controlling interest
Penerimaan piutang pemesanan saham
  entitas anak yang menjadi bagian                                                                            Proceeds from stock subscription receivable
  kepentingan nonpengendali                                            4.900.000.000                    -        of subsidiary to non-controlling interest
Pembayaran liabilitas sewa                                            (1.680.000.000)      (2.583.980.000)    Payments of lease liabilities
Pembayaran dividen oleh entitas anak yang                                                                     Payment of dividends to non-controlling interest
  menjadi bagian kepentingan nonpengendali                       (178.242.371.676)       (335.387.134.582)       by a subsidiary
Pembayaran dividen                                                              -        (702.651.156.200)    Dividends paid

Kas Bersih Diperoleh dari (Digunakan untuk)                                                                   Net Cash Provided by (Used in)
   Aktivitas Pendanaan                                          1.194.244.628.324        (967.571.163.782)       Financing Activities

KENAIKAN (PENURUNAN) BERSIH KAS DAN                                                                           NET INCREASE (DECREASE) IN CASH AND
  SETARA KAS                                                    1.007.951.298.377        (350.528.419.961)      CASH EQUIVALENTS

                                                                                                              CASH AND CASH EQUIVALENTS AT THE
KAS DAN SETARA KAS AWAL TAHUN                                   2.525.242.591.791       2.875.636.301.739        BEGINNING OF THE YEAR
Pengaruh perubahan kurs mata uang asing                                75.429.503             134.710.013     Effect of foreign exchange rate changes

                                                                                                              CASH AND CASH EQUIVALENTS AT THE END
KAS DAN SETARA KAS AKHIR TAHUN                                  3.533.269.319.671       2.525.242.591.791       OF THE YEAR




Lihat catatan atas laporan keuangan konsolidasian yang merupakan                               See accompanying notes to consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.                             which are an integral part of the consolidated financial statements.



                                                                                 -5-
Page 260
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


1.   Umum                                                  1.   General

     a.   Pendirian dan Informasi Umum                          a.   Establishment and General Information

          PT Duta Pertiwi Tbk (“Perusahaan” atau                     PT Duta Pertiwi Tbk (“the Company” or “the
          “Entitas Induk”) didirikan dengan Akta                     Parent Company”) was established based
          No. 237 tanggal 29 Desember 1972 dari                      on Notarial Deed No. 237 dated
          Mohamad Said Tadjoedin, S.H., notaris di                   December 29, 1972 of Mohamad Said
          Jakarta. Anggaran Dasar Perusahaan                         Tadjoedin, S.H., a public notary in Jakarta.
          tersebut telah disahkan oleh Menteri                       The Deed of Establishment was approved
          Kehakiman Republik Indonesia melalui                       by the Minister of Justice of the Republic of
          Surat Keputusan No. Y.A.5/116/20 tanggal                   Indonesia     in    his   Decision    Letter
          4 Mei 1973 dan telah diumumkan dalam                       No. Y.A.5/116/20 dated May 4, 1973, and
          Berita Negara Republik Indonesia No. 94,                   was published in the State Gazette
          Tambahan No. 1441 tanggal 25 November                      of the Republic of Indonesia No. 94
          1986. Anggaran Dasar Perusahaan telah                      dated November 25, 1986, Supplement
          mengalami beberapa kali perubahan,                         No. 1441. The Company’s Articles of
          terakhir dengan Akta No. 1 tanggal 1 Juli                  Association have been amended several
          2022 dari Syarifudin, S.H., notaris di Kota                times, most recently by Notarial Deed
          Tangerang, mengenai penyesuaian Pasal 3                    No. 1 dated July 1, 2022 of Syarifudin, S.H.,
          Anggaran Dasar Perusahaan terhadap                         a public notary in Kota Tangerang,
          Klasifikasi    Baku     Lapangan     Usaha                 concerning the adjustment of Article 3 of
          Indonesia. Perubahan ini telah disetujui                   the Company’s Articles of Association
          oleh        Menteri        Hukum        dan                to    Indonesian      Standard     Industrial
          Hak       Asasi       Manusia      Republik                Classification of All Economic Activities.
          Indonesia melalui Surat Keputusannya                       This change was approved by the Minister
          No. AHU-0045588.AH.01.02.Tahun 2022                        of Law and Human Rights of the Republic
          tanggal 4 Juli 2022, serta diumumkan dalam                 of Indonesia through his Decision Letter
          Berita     Negara     Republik    Indonesia                No. AHU-0045588.AH.01.02.Year 2022
          No. 87 tanggal 1 November 2022, tambahan                   dated July 4, 2022, and was published in
          No. 37675.                                                 the State Gazette of the Republic of
                                                                     Indonesia No. 87 dated November 1, 2022,
                                                                     Supplement No. 37675.

          Sesuai dengan Pasal 3 Anggaran Dasar,                      In accordance with Article 3 of the
          ruang lingkup kegiatan Perusahaan meliputi                 Company’s Articles of Association, the
          industri barang, pengelolaan air, konstruksi               scope of its activities is to engage in
          gedung, jalan dan jaringan, penyiapan                      commodity industry, water treatment,
          lahan, instalasi sistem kelistrikan dan                    building, road and network construction,
          saluran, perdagangan besar, aktivitas                      land preparation, installation of electrical
          penunjang angkutan darat, restoran, real                   systems and channels, wholesale trade,
          estat yang dimiliki sendiri atau disewa,                   land transportation support activities,
          kawasan industri, aktivitas konsultasi serta               restaurants, self-owned or leased real
          aktivitas operasional fasilitas olahraga dan               estate, industrial estates, consulting
          taman bertema atau taman hiburan.                          activities and operational activities for
          Perusahaan mulai beroperasi komersial                      sports facilities and theme parks or
          pada tanggal 1 Oktober 1988 dalam bidang                   amusement parks. The Company started
          real    estat,  sebelumnya       Perusahaan                commercial operations in real estate
          bergerak dalam bidang kontraktor.                          business on October 1, 1988. Prior to
                                                                     October 1988, the Company is engaged in
                                                                     construction business only.




                                                     -6-
Page 261
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                   For the Years Ended
31 Desember 2025 dan 2024                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                     unless Otherwise Stated)


         Perusahaan berkedudukan di Jakarta Utara               The Company is domiciled in North Jakarta
         dengan proyek real estatnya meliputi pusat             and its real estate projects, namely, ITC
         perbelanjaan ITC Mangga Dua, Ruko Textil               Mangga Dua Shopping Center, Ruko Textil
         Mangga Dua, Dusit Arkade Belanja Mangga                Mangga Dua, Dusit Arkade Belanja
         Dua, Mangga Dua Mall, Mangga Dua Court                 Mangga Dua, Mangga Dua Mall, Mangga
         Apartment, Wisma Eka Jiwa, Jembatan                    Dua Court Apartment, Wisma Eka Jiwa,
         Niaga I, II dan III, perumahan Taman Duta              Niaga I, II and III bridge, Taman Duta Mas
         Mas, Mega ITC Cempaka Mas, Pusat Niaga                 housing complex, Mega ITC Cempaka
         Duta Mas Fatmawati, Ruko Roxy Mas, ITC                 Mas, Pusat Niaga Duta Mas Fatmawati,
         Fatmawati, Harcomas Mangga Dua,                        Ruko Roxy Mas, ITC Fatmawati, Harcomas
         Jembatan Harcomas Mangga Dua dan                       Mangga Dua, Harcomas Mangga Dua
         Terowongan Harcomas Mangga Dua, ITC                    bridge and Harcomas Mangga Dua
         Roxy Mas dan Apartemen, dan Roxy II, yang              underground channel, ITC Roxy Mas and
         seluruhnya berlokasi di Jakarta dan pusat              apartment, and Roxy II are located in
         perbelanjaan Mangga Dua Center di                      Jakarta, while the Mangga Dua Center
         Surabaya. Kantor pusat Perusahaan                      Shopping Center is located in Surabaya.
         beralamat di Gedung ITC Mangga Dua Lt. 8,              The Company’s head office is located at
         Jalan Mangga Dua Raya, Jakarta.                        ITC Mangga Dua building, 8th Floor, Jalan
                                                                Mangga Dua Raya, Jakarta.

         Perusahaan dan entitas anak (selanjutnya               The Company and its subsidiaries (herein
         disebut Grup) didirikan dan menjalankan                after referred to as “the Group”) are
         usahanya di Indonesia.                                 incorporated and conduct their operations
                                                                in Indonesia.

         Grup termasuk dalam kelompok usaha                     The Group operates under the group of
         PT Bumi Serpong Damai Tbk.                             PT Bumi Serpong Damai Tbk.

         Pemegang saham akhir Grup adalah                       The ultimate parent of the Group is
         Sinarmas Land Limited yang berkedudukan                Sinarmas Land Limited, a limited liability
         di Singapura.                                          company incorporated in Singapore.

    b.   Penawaran Umum Efek Perusahaan                    b.   Public Offering of Shares and Bonds

         Penawaran Umum Saham                                   Shares Offering

         Pada tanggal 26 September 1994,                        On September 26, 1994, the Company
         Perusahaan        memperoleh        Surat              obtained the Notice of Effectivity of Share
         Pemberitahuan Efektif atas Pernyataan                  Registration from the Chairman of the
         Pendaftaran Emisi Saham dari Ketua Badan               Capital Market Supervisory Agency
         Pengawas Pasar Modal (Bapepam atau                     (Bapepam or the Capital Market and
         Badan Pengawas Pasar Modal dan                         Financial        Institution   Supervisory
         Lembaga Keuangan/Bapepam dan LK atau                   Agency/Bapepam-LK or currently Financial
         sekarang Otoritas Jasa Keuangan/OJK)                   Service Authority/OJK) in his letter
         No. S-1665/PM/1994 untuk melaksanakan                  No. S-1665/PM/1994 for its offering to the
         penawaran      umum     saham     kepada               public of 25,000,000 shares with
         masyarakat sebanyak 25.000.000 saham                   Rp 1,000 par value per share at an offering
         dengan nilai nominal Rp 1.000 per saham,               price of Rp 3,150 per share. On
         dan harga penawaran sebesar Rp 3.150                   November 2, 1994, these shares were
         per saham. Perusahaan mencatatkan                      listed in the Indonesia Stock Exchange.
         sahamnya pada Bursa Efek Indonesia pada
         tanggal 2 November 1994.

         Pada tanggal 24 Maret 1997, Perusahaan                 On March 24, 1997, the Company obtained
         memperoleh     pernyataan    efektif  dari             the Notice of Effectivity from the Chairman
         Ketua Bapepam dan LK dengan surat                      of     Bapepam-LK         in    his      letter
         No. S-447/PM/1997 untuk melakukan                      No. S-447/PM/1997 for its limited public
         Penawaran Umum Terbatas Dengan Hak                     offering with preemptive rights of
         Memesan Efek Terlebih Dahulu sebesar                   693,750,000 shares through rights issue to
         693.750.000     saham.     Saham-saham                 stockholders. On April 15, 1997, all of these
         tersebut dicatatkan pada Bursa Efek                    shares were listed in the Indonesia Stock
         Indonesia pada tanggal 15 April 1997.                  Exchange.


                                                  -7-
Page 262
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                   For the Years Ended
31 Desember 2025 dan 2024                                                                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                     unless Otherwise Stated)


         Pada tanggal 5 Juni 2008, Perusahaan                                                                        On June 5, 2008, the Company obtained
         memperoleh pernyataan efektif dari Ketua                                                                    the Notice of Effectivity from the Chairman
         Bapepam     dan    LK     dengan     surat                                                                  of     Bapepam-LK         in    his    letter
         No. S-3547/BL/2008 untuk melakukan                                                                          No. S-3547/BL/2008 for its limited public
         Penawaran Umum Terbatas Dengan Hak                                                                          offering with preemptive rights of
         Memesan Efek Terlebih Dahulu sebesar                                                                        462,500,000 shares through rights issue to
         462.500.000     saham.      Saham-saham                                                                     stockholders. On June 19, 2008, all of
         tersebut dicatatkan pada Bursa Efek                                                                         these shares were listed in the Indonesia
         Indonesia pada tanggal 19 Juni 2008.                                                                        Stock Exchange.

         Pada tanggal 31 Desember 2025 dan 2024,                                                                     As of December 31, 2025 and 2024, all of
         seluruh saham Perusahaan atau sejumlah                                                                      the Company’s outstanding shares of
         masing-masing 1.850.000.000 saham telah                                                                     1,850,000,000 are listed in the Indonesia
         dicatatkan pada Bursa Efek Indonesia.                                                                       Stock Exchange.

    c.   Entitas Anak yang Dikonsolidasikan                                                                   c.     Consolidated Subsidiaries

         Pada tanggal 31 Desember 2025 dan 2024,                                                                     As of December 31, 2025 and 2024, the
         entitas  anak    yang    dikonsolidasikan                                                                   subsidiaries which were consolidated,
         termasuk      persentase     kepemilikan                                                                    including the respective percentages of
         Perusahaan adalah sebagai berikut:                                                                          ownership held by the Company, follows:
                                                                                              Tahun Operasi        Persentase Kepemilikan
                                                                                                Komersial/             dan Hak Suara/
                                                                                                 Start of          Percentage of Ownership        Jumlah Aset (Sebelum Eliminasi)/
               Entitas Anak/          Lokasi/        Jenis Usaha/          Nama Proyek/        Commercial             and Voting Rights           Total Assets (Before Elimination)
              Subsidiary (PT)        Domicile     Nature of Business       Project Name        Operations          2025               2024          2025                       2024
                                                                                                                    %                   %
         Pemilikan Langsung/Direct Investments
         Putra Alvita Pratama (PAP) Bekasi       Perumahan/            Grand Wisata               1994                 53,52             53,52   2.456.323.416.949      2.484.474.301.520
                                                 Real estate
         Duta Semesta Mas          Jakarta       Mixed use             South Gate                 2015                100,00            100,00   1.682.843.479.694      1.801.715.181.700

         Mitrakarya Multiguna      Surabaya      Pergudangan/                   -                 2016                 82,00             82,00   1.481.299.984.455      1.480.639.892.688
                                                 Warehouse
         Kurniasubur Permai (KSP) Cibubur        Perumahan/            Kota Wisata                2021                100,00            100,00   1.476.243.081.822       626.342.321.189
                                                 Real estate
         Wijaya Pratama Raya       Semarang      Pusat perbelanjaan    DP Mall dan/and            2007                 73,91             73,91   1.165.298.107.880       952.324.176.355
                                                 dan hotel/            Hotel Rooms Inc
                                                 Shopping center
                                                 and hotel
         Mekanusa Cipta            Cibubur       Perumahan/            Kota Wisata                1997                100,00            100,00    925.434.989.219        828.950.893.564
                                                 Real estate
         Itomas Kembangan          Jakarta       Apartemen/            Aerium                     2015                 88,59             88,59    891.118.515.838        989.399.238.461
           Perdana                               Apartment
         Royal Oriental            Jakarta       Perkantoran/          Sinarmas Land Plaza,       1997                 74,11             74,11    756.601.219.881        583.869.800.313
                                                 Office space          Cashbac dan/and
                                                                       Sopo Del Tower
         Kembangan Permai          Jakarta       Perumahan/            Taman Permata Buana        2005                 80,00             80,00    416.402.152.234        418.736.331.909
          Development                            Real estate
         Anekagriya Buminusa       Cibubur       Perumahan/            Kota Wisata                1997                100,00            100,00    210.061.709.403        262.962.441.545
                                                 Real estate
         Sinarwisata Permai        Balikpapan    Hotel/Hotel           Hotel Le Grandeur          1994                100,00            100,00    149.828.423.285        117.536.640.349
                                                                         Balikpapan
         Putra Prabukarya          Cibubur       Perumahan/            Kota Wisata                1997                100,00            100,00    145.307.028.658        175.862.446.293
                                                 Real estate
         Prima Sehati              Cibubur       Perumahan/            Kota Wisata                1997                100,00            100,00    136.299.260.863        216.187.897.894
                                                 Real estate
         Prestasi Mahkota Utama    Bekasi                -                      -                   *                 100,00            100,00    121.229.025.435        121.359.241.467

         Sinarwijaya Ekapratista   Tangerang     Perumahan/            Banjar Wijaya              1991                100,00            100,00    113.262.257.207        118.444.211.709
                                                 Real estate
         Perwita Margasakti        Jakarta       Apartemen dan pusat   Superblok Ambasador        1995                100,00            100,00    110.783.297.730        111.208.472.347
                                                 perbelanjaan/           Kuningan dan/and
                                                 Apartment and           ITC Kuningan
                                                 shopping center
         Phinisindo Zamrud         Depok         Pusat perbelanjaan/   ITC Depok                  2004                 77,48             77,48    107.959.657.030        110.099.669.291
          Nusantara                              Shopping center
         Misaya Properindo         Cibubur       Perumahan/            Legenda Wisata             1999                100,00            100,00     89.314.410.507          84.520.516.918
                                                 Real estate
         Saranapapan Ekasejati     Cipanas       Perumahan/            Kota Bunga                 1994                100,00            100,00     51.559.022.392          54.385.483.162
                                                 Real estate
         Mustika Karya Sejati      Jakarta       Perumahan/            Taman Permata Buana        1994                100,00            100,00     49.387.397.799          42.423.972.872
                                                 Real estate
         Kanaka Grahaasri          Cibubur       Perumahan/            Kota Wisata                1997                100,00            100,00     14.459.981.298          13.840.365.532
                                                 Real estate
         Sinarwisata Lestari       Jakarta       Hotel/Hotel           Hotel Le Grandeur          1996                100,00            100,00      5.533.065.653           3.426.035.794
                                                                          Mangga Dua
         Pangeran Plaza Utama      Cipanas       Perumahan/            Kota Bunga                 1994                100,00            100,00      4.035.074.152           3.882.893.056
                                                 Real estate
         Duta Karya Propertindo    Jakarta               -                      -                   *                 100,00            100,00        106.210.332              23.158.677




                                                                                           -8-
Page 263
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                      unless Otherwise Stated)

                                                                                              Tahun Operasi    Persentase Kepemilikan
                                                                                                Komersial/         dan Hak Suara/
                                                                                                 Start of      Percentage of Ownership        Jumlah Aset (Sebelum Eliminasi)/
              Entitas Anak/          Lokasi/        Jenis Usaha/          Nama Proyek/         Commercial         and Voting Rights           Total Assets (Before Elimination)
             Subsidiary (PT)        Domicile     Nature of Business       Project Name         Operations      2025               2024          2025                       2024
                                                                                                                %                   %
        Entitas anak PAP/Subsidiary of PAP
        Putra Tirta Wisata         Bekasi      Arena rekreasi/        Go Wet                      2015             53,52             53,52     46.329.417.136          49.402.450.177
                                               Recreation arena
        Panca Lambang Cipta        Bekasi                -                      -                    *             53,52             53,52         60.000.000              60.000.000

        Entitas anak KSP/Subsidiary of KSP
        Kurnia Sinergi Mas         Cibubur     Perumahan/             Kota Wisata - Ecovia        2025             50,99             51,00   2.818.253.396.024                      -
                                               Real estate

        *   Belum beroperasi komersial/No commercial operation



        Informasi keuangan entitas anak yang                                                                     Financial information of subsidiaries
        dimiliki oleh kepentingan nonpengendali                                                                  that have material non-controlling interests
        dalam jumlah material pada tanggal dan                                                                   as of and for the years ended
        untuk     tahun-tahun   yang   berakhir                                                                  December 31, 2025 and 2024 follows:
        31 Desember 2025 dan 2024 adalah
        sebagai berikut:

                                                                                         2025
                                                                      Kepentingan Nonpengendali yang Material/
                                                                          Material Non-controlling Interest
                                                                             Bagian Kepentingan
                         Nama Entitas Anak/                                     Kepemilikan/            Saldo Akumulasi/                              Bagian Laba (Rugi)/
                         Name of Subsidiary                                  Equity Interest Held    Accumulated Balances                            Share in Profit (Loss)
                                                                                       %

        PT Kurnia Sinergi Mas                                                                49,01                         1.373.542.957.422                  (675.443.787)
        PT Putra Alvita Pratama (PAP)                                                        46,48                           758.647.373.398               155.012.055.442
        PT Mitrakarya Multiguna (MKM)                                                        18,00                           249.939.948.771                (2.455.675.189)
        PT Wijaya Pratama Raya (WPR)                                                         26,09                           242.924.311.350                11.443.713.870
        PT Royal Oriental (RO)                                                               25,89                           129.111.564.892                40.324.498.924
        PT Kembangan Permai
          Development (KPD)                                                                  20,00                            74.749.308.321                  (1.575.640.462)

                                                                                        2024
                                                                      Kepentingan Nonpengendali yang Material/
                                                                          Material Non-controlling Interest
                                                                            Bagian Kepentingan
                         Nama Entitas Anak/                                    Kepemilikan/             Saldo Akumulasi/                             Bagian Laba (Rugi)/
                         Name of Subsidiary                                 Equity Interest Held     Accumulated Balances                           Share in Profit (Loss)
                                                                                      %

        PAP                                                                                  46,48                          775.192.905.919               499.464.333.769
        MKM                                                                                  18,00                          252.397.475.935                (2.036.910.084)
        WPR                                                                                  26,09                          231.535.135.639                 4.229.430.110
        RO                                                                                   25,89                           88.871.976.287                37.635.692.152
        KPD                                                                                  20,00                           83.356.681.228                   330.630.799
        PT Phinisindo Zamrud Nusantara (PZN)                                                 22,52                           20.598.693.879               (15.855.637.101)


        Berikut    adalah     ringkasan    informasi                                                             The summarized financial information of
        keuangan dari entitas anak. Jumlah-jumlah                                                                these subsidiaries is provided below. This
        tersebut sebelum dieliminasi dengan                                                                      information is based on amounts before
        transaksi antar entitas dalam Grup.                                                                      inter-company eliminations.




                                                                                        -9-
Page 264
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                          For the Years Ended
31 Desember 2025 dan 2024                                                                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                            unless Otherwise Stated)


         Ringkasan laporan posisi keuangan pada                                                                                           Summarized statements of financial
         tanggal 31 Desember 2025 dan 2024:                                                                                               position as of December 31, 2025 and
                                                                                                                                          2024:
                                                                                                               2025
                                               KSM                      PAP                      MKM                             WPR                         RO                       KPD

          Aset lancar                     393.057.801.367          1.316.226.972.023           38.571.361.094                132.166.384.834          376.720.287.062             69.980.931.018         Current assets
          Aset tidak lancar             2.425.195.594.657          1.140.096.444.926        1.442.728.623.361              1.033.131.723.046          379.880.932.819            346.421.221.216         Noncurrent assets
          Jumlah Aset                   2.818.253.396.024          2.456.323.416.949        1.481.299.984.455              1.165.298.107.880          756.601.219.881            416.402.152.234         Total Assets

          Liabilitas jangka pendek         14.641.948.458           707.905.893.409            92.535.229.923                171.886.294.058          246.914.310.840              42.271.645.822        Current liabilities
          Liabilitas jangka panjang           463.003.645           115.903.743.516               209.485.499                 62.293.891.306           10.994.113.009                 383.964.744        Noncurrent liabilities
          Jumlah Liabilitas                15.104.952.103           823.809.636.925            92.744.715.422                234.180.185.364          257.908.423.849              42.655.610.566        Total Liabilities
          Jumlah Ekuitas                2.803.148.443.921          1.632.513.780.024        1.388.555.269.033                931.117.922.516          498.692.796.032            373.746.541.668         Total Equity

                                                                                                               2024
                                                PAP                       MKM                       WPR                             RO                       KPD                      PZN

          Aset lancar                      1.399.500.316.672             39.364.095.552         71.817.879.691              184.180.268.063            64.486.170.949            106.289.401.970         Current assets
          Aset tidak lancar                1.084.973.984.848          1.441.275.797.136        880.506.296.664              399.689.532.250           354.250.160.960              3.810.267.321         Noncurrent assets
          Jumlah Aset                      2.484.474.301.520          1.480.639.892.688        952.324.176.355              583.869.800.313           418.736.331.909            110.099.669.291         Total Assets

          Liabilitas jangka pendek           500.512.127.672            78.175.505.870          24.559.152.950              228.600.844.516             1.506.867.965               9.801.365.358        Current liabilities
          Liabilitas jangka panjang          315.872.814.021               256.189.098          40.301.394.612               12.001.376.472               446.057.743               8.817.387.757        Noncurrent liabilities
          Jumlah Liabilitas                  816.384.941.693            78.431.694.968          64.860.547.562              240.602.220.988             1.952.925.708             18.618.753.115         Total Liabilities
          Jumlah Ekuitas                   1.668.089.359.827          1.402.208.197.720        887.463.628.793              343.267.579.325           416.783.406.201             91.480.916.176         Total Equity




         Ringkasan laporan laba rugi dan                                                                                           Summarized statements of profit or loss
         penghasilan komprehensif lain pada tahun                                                                                  and other comprehensive income for 2025
         2025 dan 2024:                                                                                                            and 2024:
                                                                                                                 2025
                                                     KSM                      PAP                    MKM                            WPR                       RO                         KPD

         Pendapatan                                            -         998.289.144.294            257.375.000              174.773.298.162           304.561.616.751                             -      Revenues
         Laba (rugi) sebelum pajak               (1.273.556.079)         333.809.040.524        (13.642.639.938)              43.863.336.492           156.081.801.464             (7.862.703.642)        Profit (loss) before tax
         Rugi komprehensif lain                                -            (678.202.678)            (10.288.749)               (209.042.769)             (327.965.697)              (158.662.221)        Other comprehensive loss
         Jumlah penghasilan (rugi)                                                                                                                                                                        Total comprehensive
            komprehensif                         (1.273.556.079)         332.814.423.726        (13.652.928.687)              43.654.293.723           155.425.216.707             (8.036.864.533)           income (loss)
         Teratribusikan pada kepentingan                                                                                                                                                                  Attributable to non-
            nonpengendali                          (675.443.787)         154.696.839.155         (2.457.527.164)              11.389.175.711            40.239.588.605             (1.607.372.907)            controlling interest
         Dividen yang dibayarkan pada                                                                                                                                                                     Dividends paid to non-
            kepentingan nonpengendali                          -         171.242.371.676                             -                        -                           -         7.000.000.000             controlling interest

                                                                                                                2024
                                                     PAP                   MKM                     WPR                           RO                       KPD                        PZN

         Pendapatan                           2.116.131.387.611                        -     118.275.034.809                299.556.104.203           24.663.902.901              2.300.025.351         Revenues
         Laba (rugi) sebelum pajak            1.074.838.294.112       (11.316.167.136)         16.211.319.203               145.783.985.668            1.703.140.752            (69.759.869.576)        Profit (loss) before tax
         Penghasilan (rugi)                                                                                                                                                                             Other comprehensive
           komprehensif lain                         141.460.806              160.075             (57.941.393)                   37.323.963               39.543.458               (266.883.937)           income (loss)
         Jumlah penghasilan (rugi)                                                                                                                                                                      Total comprehensive
           komprehensif                       1.074.708.992.778       (11.316.007.061)         16.153.377.810               145.405.003.191            1.692.697.453            (70.683.397.579)           income (loss)
         Teratribusikan pada kepentingan                                                                                                                                                                Attributable to non-
            nonpengendali                      499.530.084.727          (2.036.881.270)         4.214.313.505                37.645.355.326              338.539.490            (15.915.731.170)           controlling interest
         Dividen yang dibayarkan pada                                                                                                                                                                   Dividends paid to non-
            kepentingan nonpengendali          250.336.381.912                         -       28.718.686.920                51.823.365.750                           -           4.508.700.000            controlling interest



         Ringkasan informasi arus kas pada tahun                                                                                   Summarized cash flow information for 2025
         2025 dan 2024:                                                                                                            and 2024:
                                                                                                              2025
                                                KSM                     PAP                    MKM                           WPR                        RO                        KPD

         Operasi                           (142.602.804.991)         71.878.754.418         (9.885.989.797)               99.368.501.871           187.670.130.337             36.519.143.423          Operating
         Investasi                            9.217.359.149          28.371.864.990             13.643.173               (52.281.352.214)         (196.873.870.214)             1.837.890.756          Investing
         Pendanaan                          416.218.142.858        (408.390.003.530)         9.075.000.000                             -                         -            (35.000.000.000)         Financing
                                                                                                                                                                                                       Net increase (decrease)
         Kenaikan (penurunan)                                                                                                                                                                             in cash and cash
           bersih kas dan setara kas       282.832.697.016         (308.139.384.122)         (797.346.624)                47.087.149.657            (9.203.739.877)             3.357.034.179             equivalents


                                                                                                              2024
                                                PAP                    MKM                     WPR                             RO                       KPD                        PZN

          Operasi                           451.643.144.028        (19.059.733.902)          58.177.077.234               148.145.914.019           21.483.606.030                533.353.429          Operating
          Investasi                          55.440.382.698             13.161.718         (239.392.912.589)                5.130.384.167            1.822.600.126                417.961.712          Investing
          Pendanaan                        (538.543.233.860)        19.800.000.000          169.920.251.000              (200.737.880.000)                       -            (20.023.600.000)         Financing
                                                                                                                                                                                                       Net increase (decrease)
          Kenaikan (penurunan)                                                                                                                                                                            in cash and cash
            bersih kas dan setara kas       (31.459.707.134)           753.427.816          (11.295.584.355)              (47.461.581.814)          23.306.206.156            (19.072.284.859)            equivalents




                                                                                           - 10 -
Page 265
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                    For the Years Ended
31 Desember 2025 dan 2024                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                      unless Otherwise Stated)


        Perubahan Persentase Kepemilikan                        Changes in Ownership Interest

        PT Kurnia Sinergi Mas (KSM)                             PT Kurnia Sinergi Mas (KSM)

        Pada tanggal 26 Mei 2025, PT Kurniasubur                On May 26, 2025, PT Kurniasubur Permai
        Permai (KSP), entitas anak, dan Sinarmas                (KSP), a subsidiary, and Sinarmas Land
        Land (HK) Limited, pihak berelasi                       (HK) Limited, a related party (Note 42),
        (Catatan 42), menyetujui penambahan                     approved the increase in paid-up capital in
        modal disetor pada KSM masing-masing                    KSM amounting to Rp 2,388,000,000,000
        sebesar   Rp    2.388.000.000.000    dan                and Rp 406,422,000,000, respectively, or
        Rp 406.422.000.000 atau masing-masing                   equivalent to 2,388,000 shares and
        setara dengan 2.388.000 dan 406.422                     406,422     shares,  respectively.    This
        saham.    Transaksi    ini  meningkatkan                transaction increased the ownership
        persentase kepemilikan KSP di KSM dari                  interest of KSP in KSM from 51.00% to
        51,00% menjadi 85,33% (Catatan 29).                     85.33% (Note 29).

        Pada tanggal 25 Juni 2025, KSP, entitas                 On June 25, 2025, KSP, a subsidiary, sold
        anak, melakukan penjualan 962.845 lembar                962,745 shares in KSM with a selling price
        saham di KSM dengan harga penjualan                     of Rp 962,845,000,000 to Sinarmas Land
        sebesar Rp 962.845.000.000 kepada                       (HK) Limited, a related party (Note 42).
        Sinarmas Land (HK) Limited, pihak berelasi              This transaction decreased the ownership
        (Catatan 42). Transaksi ini menurunkan                  interest of KSP in KSM from 85.33% to
        persentase kepemilikan KSP di KSM dari                  50.99% (Note 29).
        85,33% menjadi 50,99% (Catatan 29).

        PT Wijaya Pratama Raya (WPR)                            PT Wijaya Pratama Raya (WPR)

        Pada tanggal 8 Maret 2024, Perusahaan                   On March 8, 2024, the Company
        dan PT Sinar Mas Griya (SMG), menyetujui                and PT Sinar Mas Griya (SMG), approved
        penambahan modal disetor pada WPR                       the increase in paid-up capital which
        masing-masing sebesar Rp 81.301.000.000                 was fully issued by WPR amounting
        dan Rp 28.699.000.000 atau masing-masing                to      Rp       81,301,000,000       and
        setara dengan 81.301.000 dan 28.699.000                 Rp       28,699,000,000,     respectively,
        saham.     Transaksi   ini   menurunkan                 consisting of 81,301,000 and 28,699,000
        persentase kepemilikan Perusahaan di                    shares, respectively. This transaction
        WPR dari 73,9108% menjadi 73,9105%                      decreased the ownership interest of the
        (Catatan 29).                                           Company in WPR from 73.9108% to
                                                                73.9105% (Note 29).

        Pada tanggal 20 Desember 2024,                          On December 20, 2024, the Company
        Perusahaan     dan    SMG,    menyetujui                and SMG, approved the increase in
        penambahan           modal        disetor               paid-up capital which was fully issued by
        pada    WPR     masing-masing    sebesar                WPR amounting to Rp 125,647,894,000
        Rp          125.647.894.000          dan                and Rp 44,352,107,000, respectively,
        Rp 44.352.107.000 atau masing-masing                    consisting of 125,647,894 and 44,352,107
        setara dengan 125.647.894 dan 44.352.107                shares, respectively. This transaction
        saham.     Transaksi   ini   menurunkan                 decreased the ownership interest of the
        persentase kepemilikan Perusahaan di                    Company in WPR from 73.9105259% to
        WPR      dari   73,9105259%      menjadi                73.9105258% (Note 29).
        73,9105258% (Catatan 29).

        Pendirian Perusahaan Baru                               Establishment of New Company

        Pada tanggal 17 Desember 2024,                          On December 17, 2024, KSP, a subsidiary,
        KSP, entitas anak, dan Sinarmas Land (HK)               and Sinarmas Land (HK) Limited, a related
        Limited, pihak berelasi (Catatan 42),                   party (Note 42), established KSM
        mendirikan KSM dengan modal disetor                     with paid-up capital amounting to
        masing-masing sebesar Rp 5.100.000.000                  Rp 5,100,000,000 and Rp 4,900,000,000,
        dan Rp 4.900.000.000 atau masing-masing                 respectively, or representing 5,100 shares
        mencerminkan 5.100 dan 4.900 saham                      and 4,900 shares, respectively, with
        dengan nilai nominal sebesar Rp 1.000.000               nominal value of Rp 1,000,000 per share.
        per saham. Bagian kepemilikan KSP pada                  KSP ownership interest in KSM is 51%.
        KSM adalah sebesar 51%.



                                                - 11 -
Page 266
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    d.   Dewan Komisaris, Direksi dan Karyawan                   d.   Board of Commissioners, Directors and
                                                                      Employees

         Pada tanggal 31 Desember 2025 dan 2024,                      As of December 31, 2025 and 2024, based
         susunan Dewan Komisaris dan Direksi                          on the Statement of Meeting Decision, as
         Perusahaan     berdasarkan      Pernyataan                   documented in Notarial Deed No. 22 dated
         Keputusan        Rapat       sebagaimana                     June 20, 2025 and No. 18 dated June 14,
         didokumentasikan dalam Akta No. 22                           2022, of Syarifudin, S.H., a public notary in
         tanggal 20 Juni 2025 dan Akta No. 18                         Tangerang, the Company’s Board of
         tanggal 14 Juni 2022, dari Syarifudin, S.H.,                 Commissioners and Directors consist of
         notaris di Tangerang, adalah sebagai                         the following:
         berikut:

         Dewan Komisaris                                                           Board of Commissioners
         Komisaris Utama                    :   Muktar Widjaja                 :   President Commissioner
         Wakil Komisaris Utama              :   Franciscus Xaverius            :   Vice President Commissioner
                                                Ridwan Darmali

         Komisaris Independen               :   Teddy Pawitra                  :   Independent Commissioners
                                                Susiyati Bambang Hirawan

         Direksi                                                                   Directors
         Direktur Utama                     :   Teky Mailoa                    :   President Director
         Wakil Direktur Utama               :   Lie Jani Harjanto              :   Vice President Director
         Direktur                           :   Hongky Jeffry Nantung          :   Directors
                                                Handoko Wibowo

         Susunan Komite Audit Perusahaan pada                         The Composition of the Audit Committee of
         tanggal 31 Desember 2025 berdasarkan                         the Company as of December 31, 2025,
         Keputusan Dewan Komisaris, adalah                            based on the Decision of the Board of
         sebagai berikut:                                             Commissioners follows:

         Ketua Komite Audit                 :   Teddy Pawitra                  :   Head of Audit Committee
         Anggota Komite Audit               :   Rudiantara                     :   Members of Audit Committee
                                                Rizal E. Halim

         Susunan Komite Audit Perusahaan pada                         The Composition of the Audit Committee of
         tanggal 31 Desember 2024 berdasarkan                         the Company as of December 31, 2024,
         Keputusan Dewan Komisaris, adalah                            based on the Decision of the Board of
         sebagai berikut:                                             Commissioners follows:

         Ketua Komite Audit                 :   Susiyati Bambang Hirawan       :   Head of Audit Committee
         Anggota Komite Audit               :   Rudiantara                     :   Members of Audit Committee
                                                Rusli Prakarsa

         Jumlah remunerasi yang diberikan kepada                      Total remuneration given to the
         Dewan Komisaris dan Direksi Perusahaan                       Company’s Board of Commissioners
         pada tahun 2025 dan 2024 masing-masing                       and Directors in 2025 and 2024
         adalah sebesar Rp 10.473.133.440 dan                         amounted      to Rp  10,473,133,440
         Rp 11.627.324.430 (tidak diaudit).                           and Rp 11,627,324,430 (unaudited),
                                                                      respectively.

         Jumlah karyawan Perusahaan adalah 333                        The Company has 333 employees as of
         karyawan pada tanggal 31 Desember 2025                       December 31, 2025 (unaudited) and 330
         (tidak diaudit) dan 330 karyawan pada                        employees as of December 31, 2024
         tanggal 31 Desember 2024 (tidak diaudit).                    (unaudited). The Group has 1,173 and
         Sedangkan jumlah karyawan Grup adalah                        1,264 employees as of December 31, 2025
         1.173 dan 1.264 masing-masing pada                           (unaudited) and December 31, 2024
         tanggal 31 Desember 2025 (tidak diaudit)                     (unaudited), respectively.
         dan 31 Desember 2024 (tidak diaudit).




                                                   - 12 -
Page 267
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                           For the Years Ended
31 Desember 2025 dan 2024                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


     e.   Penyelesaian        Laporan       Keuangan                e.   Completion of Consolidated Financial
          Konsolidasian                                                  Statements

          Laporan       keuangan         konsolidasian                   The consolidated financial statements of
          PT Duta Pertiwi Tbk dan entitas anak untuk                     PT Duta Pertiwi Tbk and its subsidiaries for
          yang berakhir 31 Desember 2025 telah                           the year ended December 31, 2025 were
          diselesaikan dan diotorisasi untuk terbit oleh                 completed and authorized for issuance on
          Direksi    Perusahaan       pada      tanggal                  March 5, 2026 by the Company’s Directors
          5 Maret 2026. Direksi Perusahaan                               who are responsible for the preparation
          bertanggung jawab atas penyusunan dan                          and presentation of the consolidated
          penyajian laporan keuangan konsolidasian                       financial statements.
          tersebut.

2.   Informasi Kebijakan Akuntansi Material                    2.   Material Accounting Policy Information

     a.   Dasar Penyusunan dan Pengukuran                           a.   Basis   of  Consolidated   Financial
          Laporan Keuangan Konsolidasian                                 Statements     Preparation      and
                                                                         Measurement

          Laporan keuangan konsolidasian disusun                         The consolidated financial statements
          dan disajikan dengan menggunakan                               have been prepared and presented in
          Standar Akuntansi Keuangan di Indonesia,                       accordance with Indonesian Financial
          meliputi pernyataan dan interpretasi yang                      Accounting Standards “SAK”, which
          diterbitkan oleh Dewan Standar Akuntansi                       comprise        the     statements      and
          Keuangan Ikatan Akuntan Indonesia (IAI)                        interpretations issued by the Board of
          dan Dewan Standar Akuntansi Syariah IAI,                       Financial Accounting Standards of the
          dan Peraturan OJK No. VIII.G.7 tentang                         Institute    of     Indonesia    Chartered
          “Penyajian dan Pengungkapan Laporan                            Accountants (IAI) and the Board of Sharia
          Keuangan Emiten atau Perusahaan Publik”.                       Accounting Standards of IAI and OJK
                                                                         Regulation      No.    VIII.G.7   regarding
                                                                         “Presentation and Disclosures of Public
                                                                         Companies’ Financial Statements”. Such
                                                                         consolidated financial statements are an
                                                                         English translation of the Group’s statutory
                                                                         report in Indonesia.

          Dasar pengukuran laporan keuangan                              The measurement basis used is the
          konsolidasian ini adalah konsep biaya                          historical cost, except for certain accounts
          perolehan (historical cost), kecuali beberapa                  which are measured on the bases
          akun    tertentu    disusun      berdasarkan                   described in the related accounting
          pengukuran lain, sebagaimana diuraikan                         policies. The consolidated financial
          dalam kebijakan akuntansi masing-masing                        statements, except for the consolidated
          akun     tersebut.     Laporan      keuangan                   statements of cash flows, are prepared
          konsolidasian ini disusun dengan metode                        under the accrual basis of accounting.
          akrual,    kecuali    laporan     arus    kas
          konsolidasian.

          Laporan arus kas konsolidasian disusun                         The consolidated statements of cash flows
          dengan menggunakan metode langsung                             are prepared using the direct method with
          dengan mengelompokkan arus kas dalam                           classifications of cash flows into operating,
          aktivitas operasi, investasi dan pendanaan.                    investing, and financing activities.

          Kebijakan akuntansi yang diterapkan                            The accounting policies adopted in the
          dalam penyusunan laporan keuangan                              preparation of the consolidated financial
          konsolidasian untuk tahun yang berakhir                        statements     for   the    year   ended
          31 Desember 2025 adalah konsisten                              December 31, 2025 are consistent with
          dengan kebijakan yang diterapkan dalam                         those adopted in the preparation of the
          penyusunan        laporan     keuangan                         consolidated financial statements for the
          konsolidasian untuk tahun yang berakhir                        year ended December 31, 2024.
          31 Desember 2024.




                                                      - 13 -
Page 268
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Mata uang yang digunakan dalam                               The currency used in the preparation and
         penyusunan     dan    penyajian  laporan                     presentation of the consolidated financial
         keuangan konsolidasian adalah mata uang                      statements is the Indonesian Rupiah
         Rupiah (Rupiah) yang juga merupakan mata                     (Rupiah) which is also the functional
         uang fungsional Perusahaan.                                  currency of the Company.

    b.   Prinsip Konsolidasi                                     b.   Principles of Consolidation

         Laporan keuangan konsolidasian meliputi                      The consolidated financial statements
         laporan keuangan Perusahaan dan entitas-                     incorporate the financial statements of the
         entitas (termasuk entitas terstruktur) yang                  Company and entities (including structured
         dikendalikan oleh Perusahaan dan entitas                     entities) controlled by the Company and its
         anak (Grup). Pengendalian diperoleh                          subsidiaries (the Group). Control is
         apabila Grup memiliki seluruh hal berikut ini:               achieved when the Group has all the
                                                                      following:

         •    kekuasaan atas investee;                                •    power over the investee;
         •    eksposur atau hak atas imbal hasil                      •    is exposed, or has rights, to variable
              variabel dari keterlibatannya dengan                         returns from its involvement with the
              investee; dan                                                investee; and
         •    kemampuan untuk menggunakan                             •    the ability to use its power to affect its
              kekuasaannya atas investee untuk                             returns.
              mempengaruhi jumlah imbal hasil
              Grup.

         Pengkonsolidasian entitas anak dimulai                       Consolidation of a subsidiary begins when
         pada saat Grup memperoleh pengendalian                       the Group obtains control over the
         atas entitas anak dan berakhir pada saat                     subsidiary and ceases when the Group
         Grup kehilangan pengendalian atas entitas                    loses control of the subsidiary. Specifically,
         anak. Secara khusus, penghasilan dan                         income and expenses of a subsidiary
         beban entitas anak yang diakuisisi atau                      acquired or disposed of during the year are
         dilepaskan selama tahun berjalan termasuk                    included in the consolidated statement of
         dalam laporan laba rugi dan penghasilan                      profit or loss and other comprehensive
         komprehensif lain konsolidasian sejak                        income from the date the Group gains
         tanggal Grup memperoleh pengendalian                         control until the date when the Group
         sampai dengan tanggal Grup kehilangan                        ceases to control the subsidiary.
         pengendalian atas entitas anak.

         Seluruh aset dan liabilitas, ekuitas,                        All intragroup assets and liabilities, equity,
         penghasilan, beban dan arus kas dalam                        income, expenses and cash flows relating
         intra kelompok usaha terkait dengan                          to transactions between members of the
         transaksi antar entitas dalam Grup                           Group are eliminated in full on
         dieliminasi secara penuh dalam laporan                       consolidation.
         keuangan konsolidasian.

         Selisih penilaian kembali aset tetap dan                     The revaluation increment in value of
         properti investasi milik PT Sinarwisata                      property and equipment and investment
         Lestari dan PT Sinarwisata Permai, entitas-                  property of PT Sinarwisata Lestari and
         entitas anak, tidak diakui dalam laporan                     PT Sinarwisata Permai, subsidiaries, has
         keuangan konsolidasian agar konsisten                        been reversed in the consolidated financial
         dengan kebijakan akuntansi Grup yang                         statements to be consistent with the
         mencatat aset tetap dan properti investasi                   Group’s policy of carrying its property and
         dengan menggunakan metode biaya.                             equipment and investment property using
                                                                      the cost model.

         Laba rugi dan setiap komponen penghasilan                    Profit or loss and each component of other
         komprehensif lain diatribusikan kepada                       comprehensive income are attributed to the
         pemilik Perusahaan dan kepentingan                           owners of the Company and to the non-
         nonpengendali (KNP) meskipun hal tersebut                    controling interest (NCI) even if this results
         mengakibatkan KNP memiliki saldo defisit.                    in the NCI having a deficit balance.




                                                     - 14 -
Page 269
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)

         KNP disajikan dalam laporan laba rugi                        NCI are presented in the consolidated
         dan     penghasilan    komprehensif    lain                  statement of profit or loss and other
         konsolidasian dan dalam ekuitas pada                         comprehensive income and under the
         laporan posisi keuangan konsolidasian,                       equity section of the consolidated
         terpisah    dari   bagian    yang    dapat                   statement     of     financial    position,
         diatribusikan kepada pemilik Perusahaan.                     respectively,    separately    from     the
                                                                      corresponding portion attributable to
                                                                      owners of the Company.

         Transaksi dengan KNP yang tidak                              Transactions with NCI that do not result in
         mengakibatkan hilangnya pengendalian                         loss of control are accounted for as equity
         dicatat sebagai transaksi ekuitas. Selisih                   transactions. The difference between the
         antara nilai wajar imbalan yang dialihkan                    fair value of any consideration paid and the
         dengan bagian relatif atas nilai tercatat aset               relevant share acquired of the carrying
         bersih entitas anak yang diakuisisi dicatat di               value of net assets of the subsidiary is
         ekuitas. Keuntungan atau kerugian dari                       recorded in equity. Gains or losses on
         pelepasan kepada KNP juga dicatat di                         disposals to NCI are also recorded in
         ekuitas.                                                     equity.

    c.   Kombinasi Bisnis                                        c.   Accounting for Business Combination

         Entitas Tidak Sepengendali                                   Among Entities Not Under Common
                                                                      Control

         Kombinasi bisnis, kecuali kombinasi bisnis                   Business combinations, except business
         entitas sepengendali, dicatat dengan                         combination among entities under common
         menggunakan metode akuisisi. Biaya                           control, are accounted for using the
         perolehan dari sebuah akuisisi diukur pada                   acquisition method. The cost of an
         nilai agregat imbalan yang dialihkan, diukur                 acquisition is measured as the aggregate
         pada nilai wajar pada tanggal akuisisi dan                   of the consideration transferred, measured
         jumlah setiap KNP pada pihak yang                            at acquisition date fair value and the
         diakuisisi. Untuk setiap kombinasi bisnis,                   amount of any NCI in the acquiree. For
         pihak pengakuisisi mengukur KNP pada                         each business combination, the acquirer
         entitas yang diakuisisi pada nilai wajar atau                measures the NCI in the acquiree either at
         sebesar proporsi kepemilikan KNP atas aset                   fair value or at the proportionate share of
         neto yang teridentifikasi dari entitas yang                  the acquiree’s identifiable net assets.
         diakuisisi. Biaya-biaya akuisisi yang timbul                 Acquisition related costs incurred are
         dibebankan langsung dan disajikan sebagai                    directly expensed and included in other
         beban lain-lain.                                             expenses.

         Ketika melakukan akuisisi atas sebuah                        When the Group acquires a business, it
         bisnis, Grup mengklasifikasikan dan                          assesses the financial assets acquired and
         menentukan aset keuangan yang diperoleh                      liabilities   assumed        for    appropriate
         dan liabilitas keuangan yang diambil alih                    classification     and        designation      in
         berdasarkan pada persyaratan kontraktual,                    accordance with the contractual terms,
         kondisi ekonomi dan kondisi terkait lain yang                economic circumstances and pertinent
         ada pada tanggal akuisisi. Grup memiliki                     conditions as of the acquisition date. The
         opsi untuk menerapkan ‘uji konsentrasi nilai                 Group has an option to apply a ‘fair value
         wajar’ yang memungkinkan penilaian yang                      concentration test’ that permits a simplified
         disederhanakan       apakah      serangkaian                 assessment of whether an acquired set of
         aktivitas dan aset yang diakuisisi adalah                    activities and assets is not a business. The
         bukan sebuah bisnis. Uji konsentrasi dapat                   concentration test can be applied on a
         diterapkan berdasarkan transaksi per                         transaction-by-transaction        basis.     The
         transaksi. Uji konsentrasi opsional terpenuhi                optional concentration test is met if
         jika secara substansial seluruh nilai wajar                  substantially all of the fair value of the gross
         aset bruto yang diperoleh terkonsentrasi                     assets acquired is concentrated in a single
         pada satu aset identifikasian atau kelompok                  identifiable asset or group of similar
         aset identifikasian sejenis. Jika pengujian                  identifiable assets. If the test is met, the set
         terpenuhi, rangkaian aktivitas dan aset                      of activities and assets is determined not to
         ditentukan bukan sebuah bisnis dan tidak                     be a business and no further assessment
         diperlukan penilaian lebih lanjut. Jika                      is needed. If the test is not met, or if the
         pengujian tersebut tidak terpenuhi, penilaian                Group elects not to apply the test, a
         secara rinci harus dilakukan dengan                          detailed assessment must be performed
         menerapkan persyaratan normal dalam                          applying the normal requirements in PSAK
         PSAK No. 103.                                                No. 103.



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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


        Dalam suatu kombinasi bisnis yang                           If the business combination is achieved in
        dilakukan secara bertahap, pada tanggal                     stages, the acquisition date fair value of the
        akuisisi pihak pengakuisisi mengukur                        acquirer’s previously held equity interest in
        kembali nilai wajar kepentingan ekuitas yang                the acquiree is remeasured to fair value at
        dimiliki sebelumnya pada pihak yang                         the acquisition date through profit or loss.
        diakuisisi dan mengakui keuntungan atau
        kerugian yang dihasilkan dalam laba rugi.

        Pada tanggal akuisisi, goodwill awalnya                     At acquisition date, goodwill is initially
        diukur pada harga perolehan yang                            measured at cost being the excess of the
        merupakan selisih lebih nilai agregat dari                  aggregate of the consideration transferred
        imbalan yang dialihkan dan jumlah yang                      and the amount recognized for NCI over
        diakui untuk KNP atas aset bersih                           the net identifiable assets acquired and
        teridentifikasi yang diperoleh dan liabilitas               liabilities assumed. If this consideration is
        yang diambil alih. Jika nilai agregat tersebut              lower than the fair value of the net assets
        lebih kecil dari nilai wajar aset neto entitas              of the subsidiary acquired, the difference
        anak yang diakuisisi, selisih tersebut                      (gain on bargain purchase) is recognized in
        (keuntungan dari akuisisi saham) diakui                     profit or loss.
        dalam laba rugi.

        Setelah pengakuan awal, goodwill diukur                     After initial recognition, goodwill is
        pada jumlah tercatat dikurangi akumulasi                    measured at cost less any accumulated
        kerugian penurunan nilai. Untuk tujuan uji                  impairment losses. For the purpose of
        penurunan nilai, goodwill yang diperoleh dari               impairment testing, goodwill acquired in a
        suatu kombinasi bisnis, sejak tanggal                       business combination is, from the
        akuisisi, dialokasikan kepada setiap Unit                   acquisition date, allocated to each of the
        Penghasil Kas (“UPK”) dari Perusahaan                       Company         and/or    its   subsidiaries’
        dan/atau entitas anak yang diharapkan akan                  Cash-Generating Units (“CGU”) that are
        menerima manfaat dari sinergi kombinasi                     expected to benefit from the combination,
        tersebut, terlepas dari apakah aset atau                    irrespective of whether other assets or
        liabilitas lain dari pihak yang diakuisisi                  liabilities of the acquired are assigned to
        dialokasikan ke UPK tersebut.                               those CGUs.

        Jika goodwill telah dialokasikan pada suatu                 Where goodwill forms part of a CGU and
        UPK dan operasi tertentu atas UPK tersebut                  part of the operation within that CGU is
        dihentikan,     maka       goodwill    yang                 disposed of, the goodwill associated with
        diasosiasikan     dengan     operasi   yang                 the operation disposed of is included in the
        dihentikan tersebut termasuk dalam jumlah                   carrying amount of the operation when
        tercatat operasi tersebut ketika menentukan                 determining the gain or loss on disposal of
        keuntungan atau kerugian dari pelepasan.                    the operation. Goodwill disposed of in this
        Goodwill yang dilepaskan tersebut diukur                    circumstance is measured based on the
        berdasarkan nilai relatif operasi yang                      relative values of the operation disposed of
        dihentikan dan porsi UPK yang ditahan.                      and the portion of the CGU retained.

        Entitas Sepengendali                                        Among Entities Under Common Control

        Transaksi      kombinasi  bisnis    entitas                 Business combination transaction of
        sepengendali, berupa pengalihan bisnis                      entities under common control in form of
        yang dilakukan dalam rangka reorganisasi                    business     transfer   with    regard   to
        entitas-entitas yang berada dalam suatu                     reorganization of entities within the same
        kelompok usaha yang sama, bukan                             group of companies does not result in a
        merupakan perubahan kepemilikan dalam                       change of the economic substance of the
        arti substansi ekonomi, sehingga transaksi                  ownership, thus, the transaction is
        tersebut diakui pada jumlah tercatat                        recognized at carrying value based on
        berdasarkan        metode       penyatuan                   pooling of interest method.
        kepemilikan.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


         Selisih antara jumlah imbalan yang dialihkan               Any difference between the amount of
         dan jumlah tercatat dari setiap kombinasi                  consideration transferred and the carrying
         bisnis entitas sepengendali disajikan dalam                value of each business combination of
         akun tambahan modal disetor pada bagian                    entities under common control is
         ekuitas dalam laporan posisi keuangan                      recognized as additional paid-in capital as
         konsolidasian.                                             part of equity section in the consolidated
                                                                    statement of financial position.

         Entitas yang melepas bisnis, dalam                         An entity which is disposing a business unit
         pelepasan bisnis entitas sepengendali,                     in connection with the disposal of a
         mengakui selisih antara imbalan yang                       business unit of an entity under common
         diterima dan jumlah tercatat bisnis yang                   control recognizes the difference between
         dilepas dalam akun tambahan modal disetor                  the consideration received and carrying
         pada bagian ekuitas dalam laporan posisi                   amount of the disposed business unit as
         keuangan konsolidasian.                                    additional paid-in capital as part of equity
                                                                    section in the consolidated statement of
                                                                    financial position.

    d.   Penjabaran Mata Uang Asing                            d.   Foreign Currency Translation

         Mata Uang Fungsional dan Pelaporan                         Functional and Reporting Currencies

         Akun-akun yang tercakup dalam laporan                      Items included in the financial statements
         keuangan setiap entitas dalam Grup diukur                  of each of the Group’s companies are
         menggunakan mata uang dari lingkungan                      measured using the currency of the primary
         ekonomi utama dimana entitas beroperasi                    economic environment in which the entity
         (mata uang fungsional).                                    operates (the functional currency).

         Laporan keuangan konsolidasian disajikan                   The consolidated financial statements are
         dalam Rupiah, yang merupakan mata uang                     presented in Rupiah which is the
         fungsional Perusahaan dan mata uang                        Company’s functional and the Group’s
         penyajian Grup.                                            presentation currency.

         Transaksi dan Saldo                                        Transactions and Balances

         Transaksi dalam mata uang asing                            Foreign     currency      transactions are
         dijabarkan kedalam mata uang fungsional                    translated into the functional currency
         menggunakan kurs pada tanggal transaksi.                   using the exchange rates prevailing at the
         Keuntungan atau kerugian selisih kurs yang                 dates of the transactions. Foreign
         timbul dari penyelesaian transaksi dan dari                exchange gains and losses resulting from
         penjabaran pada kurs akhir tahun atas aset                 the settlement of such transactions and
         dan liabilitas moneter dalam mata uang                     from the translation at year end exchange
         asing diakui dalam laba rugi.                              rates of monetary assets and liabilities
                                                                    denominated in foreign currencies are
                                                                    recognized in profit or loss.

         Pada tanggal 31 Desember 2025 dan 2024,                    As of December 31, 2025 and 2024, the
         kurs konversi yang digunakan Grup adalah                   exchange rates used by the Group were
         kurs tengah Bank Indonesia masing-masing                   the middle rates of Bank Indonesia of
         sebesar Rp 16.782 dan Rp 16.162 per                        Rp 16,782 and Rp 16,162, respectively, to
         US$ 1.                                                     United States (U.S.) $ 1.

    e.   Transaksi Pihak Berelasi                              e.   Transactions with Related Parties

         Orang atau entitas dikategorikan sebagai                   A person or entity is considered a related
         pihak berelasi Grup apabila memenuhi                       party of the Group if it meets the definition
         definisi   pihak  berelasi   berdasarkan                   of a related party in PSAK No. 224 “Related
         PSAK No. 224 “Pengungkapan Pihak-pihak                     Party Disclosures”.
         Berelasi”.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


         Semua transaksi signifikan dengan pihak                       All significant transactions with related
         berelasi telah diungkapkan dalam laporan                      parties are disclosed in the consolidated
         keuangan konsolidasian.                                       financial statements.

    f.   Klasifikasi Lancar dan Tidak Lancar                      f.   Current and Non-current Classification

         Grup menyajikan aset dan liabilitas dalam                     The Group presents assets and liabilities in
         laporan posisi keuangan konsolidasian                         the consolidated statement of financial
         berdasarkan klasifikasi lancar/tidak lancar.                  position based on current/non-current
                                                                       classification.

         Suatu aset disajikan lancar bila:                             An asset is current when it is:

         i)     akan direalisasi, dijual atau dikonsumsi               i)     expected to be realized or intended to
                dalam siklus operasi normal;                                  be sold or consumed in the normal
                                                                              operating cycle;

         ii)    untuk diperdagangkan; atau                             ii)    held primarily for the purpose of
                                                                              trading; or

         iii)   akan direalisasi dalam 12 bulan                        iii)   expected to be realized within
                setelah tanggal pelaporan, atau kas                           12 months after the reporting period,
                atau setara kas, kecuali yang dibatasi                        or cash or cash equivalents unless
                penggunaannya atau akan digunakan                             restricted from being exchanged or
                untuk melunasi suatu liabilitas dalam                         used to settle a liability for at least
                paling lambat 12 bulan setelah tanggal                        12 months after the reporting period.
                pelaporan.

         Seluruh aset lain diklasifikasikan sebagai                    All other assets are classified as non-
         tidak lancar.                                                 current.

         Suatu liabilitas disajikan jangka pendek bila:                A liability is current when it is:

         i)     akan dilunasi dalam siklus operasi                     i)     expected to be settled in the normal
                normal;                                                       operating cycle;

         ii)    untuk diperdagangkan;                                  ii)    held primarily to the purpose of
                                                                              trading;

         iii)   akan dilunasi dalam 12 bulan setelah                   iii)   due to be settled within 12 months
                tanggal pelaporan; atau                                       after the reporting period; or

         iv)    tidak ada hak pada akhir periode                       iv)    there is no right at the end of the
                pelaporan     untuk    menangguhkan                           reporting period to defer the
                pelunasannya dalam paling tidak 12                            settlement of the liability for at least
                bulan setelah tanggal pelaporan.                              12 months after the reporting period.

         Seluruh liabilitas lain        diklasifikasikan               All other liabilities     are    classified   as
         sebagai jangka panjang.                                       non-current.

    g.   Kas dan Setara Kas                                       g.   Cash and Cash Equivalents

         Kas terdiri dari kas dan bank. Setara kas                     Cash consists of cash on hand and in
         adalah semua investasi yang bersifat jangka                   banks. Cash equivalents are short-term,
         pendek dan sangat likuid yang dapat segera                    highly liquid investments that are readily
         dikonversikan menjadi kas dengan jatuh                        convertible to known amounts of cash with
         tempo dalam waktu tiga (3) bulan atau                         original maturities of three (3) months or
         kurang sejak tanggal penempatannya, dan                       less from the date of placements, and
         yang tidak dijaminkan serta tidak dibatasi                    which are not used as collateral and are not
         pencairannya.                                                 restricted.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    h.   Bank dan Deposito Berjangka                           h.   Cash in Banks and Time Deposits

         Bank yang dijaminkan atau dibatasi                         Cash in banks which are used as collateral
         pencairannya serta deposito berjangka yang                 or are restricted and time deposits with
         jatuh temponya kurang dari tiga (3) bulan                  maturities of three (3) months or less from
         pada saat penempatan namun dijaminkan,                     the date of placement which are used as
         atau dibatasi pencairannya, dan deposito                   collateral or are restricted, and time
         berjangka yang jatuh temponya lebih dari                   deposits with maturities of more than three
         tiga (3) bulan pada saat penempatan                        (3) months from the date of placement are
         disajikan sebagai “Investasi jangka pendek”.               presented as “Short-term investments”.

    i.   Instrumen Keuangan                                    i.   Financial Instruments

         Grup menerapkan PSAK No. 109, Instrumen                    The Group has applied PSAK No. 109,
         Keuangan, mengenai pengaturan instrumen                    Financial Instruments, which set the
         keuangan terkait klasifikasi dan pengukuran                requirements     in    classification and
         dan penurunan nilai atas instrumen                         measurement and impairment in value of
         keuangan.                                                  financial instruments.

         Laba/Rugi Hari ke-1                                        “Day 1” Profit/Loss

         Jika nilai wajar instrumen keuangan saat                   If the Group determines that the fair value
         pengakuan awal berbeda dari harga                          at initial recognition differs from the
         transaksinya,    maka    Grup   mencatat                   transaction price, the Group shall account
         instrumen keuangan tersebut pada tanggal                   that instrument at initial recognition as
         pengakuan awal sebagai berikut:                            follows:

         (a) Jika nilai wajar dibuktikan dengan harga               (a) If that fair value is evidenced by
             kuotasi di pasar aktif untuk aset dan                      a quoted price in an active market for
             liabilitas identik (input Level 1) atau                    an identical asset or liability
             berdasarkan teknik penilaian yang                          (i.e. a Level 1 input) or based on a
             hanya menggunakan data dari pasar                          valuation technique that uss only date
             yang dapat diobservasi, maka Grup                          from observable markets, the Group
             mengakui perbedaan antara nilai wajar                      shall recognize the difference between
             pada saat pengakuan awal dan harga                         the fair value at initial recognition and
             transaksi sebagai keuntungan atau                          the transaction price as a gain or loss;
             kerugian;

         (b) Dalam hal tidak terdapat data dari pasar               (b) In cases where the data is not
             yang dapat diobservasi, selisih antara                     observable, the difference between
             nilai wajar pada saat pengakuan awal                       the fair value at initial recognition and
             dan harga transaksi ditangguhkan, dan                      the transaction price is deferred, and
             setelah pengakuan awal akan diakui                         after initial recognition the Group shall
             sebagai keuntungan atau kerugian                           recognize that deferred difference as a
             hanya sebatas keuntungan atau                              gain or loss only to the extent that it
             kerugian yang timbul dari perubahan                        arises from a change in a factor
             dalam faktor (termasuk waktu) yang                         (including       time)     that    market
             akan dipertimbangkan pelaku pasar                          participants would take into accounts
             dalam memperhitungkan nilai aset atau                      when pricing the asset or liability.
             liabilitas.

         Untuk masing-masing transaksi, Grup                        For each transaction, the Group
         menerapkan metode pengakuan laba/rugi                      determines the appropriate method of
         Hari ke-1 yang sesuai.                                     recognizing the “Day 1” profit/loss amount.




                                                   - 19 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


        Aset Keuangan                                              Financial Assets

        Grup mengklasifikasikan aset keuangan                      The Group classifies its financial assets in
        sesuai dengan PSAK No. 109, Instrumen                      accordance with PSAK No. 109, Financial
        Keuangan, sehingga setelah pengakuan                       Instruments, that classifies financial assets
        awal aset keuangan diukur pada biaya                       as subsequently measured at amortized
        perolehan diamortisasi, nilai wajar melalui                cost, fair value through comprehensive
        penghasilan komprehensif lain atau nilai                   income or fair value through profit or loss
        wajar   melalui    laba     rugi,   dengan                 (FVPL), on the basis of both:
        menggunakan dua dasar, yaitu:

        (a)   Model bisnis Grup dalam mengelola                    (a)   The Group’s business model for
              aset keuangan; dan                                         managing the financial assets; and

        (b)   Karakteristik arus kas kontraktual dari              (b)   The     contractual       cash     flow
              aset keuangan.                                             charateristics of the financial assets.

        Pada tanggal 31 Desember 2025 dan 2024,                    As of December 31, 2025 and 2024, the
        Grup memiliki instrumen keuangan dalam                     Group has financial instruments under
        kategori aset keuangan pada biaya                          financial assets at amortized cost category.
        perolehan diamortisasi.

        Aset Keuangan pada Biaya Perolehan                         Financial Assets at Amortized Cost
        Diamortisasi

        Aset keuangan diukur pada biaya perolehan                  A financial asset is measured at amortized
        diamortisasi jika kedua kondisi berikut                    cost if both of the following conditions are
        terpenuhi:                                                 met:

        (a)   Aset keuangan dikelola dalam model                   (a)   The financial assets are held within a
              bisnis yang bertujuan untuk memiliki                       business model whose objective is to
              aset    keuangan    dalam    rangka                        hold financial assets in order to collect
              mendapatkan arus kas kontraktual;                          contractual cash flows; and
              dan

        (b)   Persyaratan kontraktual dari aset                    (b)   The contractual terms of the financial
              keuangan menghasilkan arus kas                             assets give rise on specified dates to
              pada tanggal tertentu yang semata dari                     cash flows that are solely payments of
              pembayaran pokok dan bunga dari                            principal and interest on the principal
              jumlah pokok terutang.                                     amount outstanding.

        Aset keuangan pada biaya perolehan                         Financial assets at amortized cost is
        diamortisasi diukur pada jumlah yang diakui                measured at initial amount minus the
        saat pengakuan awal dikurangi pembayaran                   principal repayments, plus or minus the
        pokok, ditambah atau dikurangi dengan                      cumulative amortization using the effective
        amortisasi kumulatif menggunakan metode                    interest method of any difference between
        suku bunga efektif yang dihitung dari selisih              that initial amount and the maturity amount
        antara nilai awal dan nilai jatuh temponya,                adjusted for allowance for impairment.
        dan dikurangi dengan cadangan kerugian
        penurunan nilai.

        Pada tanggal 31 Desember 2025 dan 2024,                    As of December 31, 2025 and 2024, the
        kategori ini meliputi kas dan setara kas,                  Group’s cash and cash equivalents, short-
        investasi jangka pendek, piutang usaha dan                 term     investments,     trade accounts
        piutang lain-lain yang dimiliki oleh Grup.                 receivable and other accounts receivable
                                                                   are included in this category.




                                                   - 20 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


        Liabilitas   Keuangan       dan     Instrumen                 Financial   Liabilities       and     Equity
        Ekuitas                                                       Instruments

        Liabilitas keuangan dan instrumen ekuitas                     Financial liabilities and equity instruments
        Grup diklasifikasikan berdasarkan substansi                   of the Group are classified according to the
        perjanjian kontraktual serta definisi liabilitas              substance of the contractual arrangements
        keuangan dan instrumen ekuitas. Kebijakan                     entered into and the definitions of a
        akuntansi yang diterapkan atas instrumen                      financial liability and equity instrument. The
        keuangan tersebut diungkapkan berikut ini.                    accounting policies adopted for specific
                                                                      financial instruments are set out below.

        Instrumen Ekuitas                                             Equity Instruments

        Instrumen ekuitas adalah setiap kontrak                       An equity instrument is any contract that
        yang memberikan hak residual atas aset                        evidences a residual interest in the assets
        suatu entitas setelah dikurangi dengan                        of an entity after deducting all of its
        seluruh liabilitasnya. Instrumen ekuitas                      liabilities. Equity instruments are recorded
        dicatat sejumlah hasil yang diterima setelah                  at the proceeds received, net of direct issue
        dikurangkan dengan biaya penerbitan                           costs.
        langsung.

        Liabilitas Keuangan                                           Financial Liabilities

        Liabilitas keuangan dalam lingkup PSAK                        Financial liabilities within the scope of
        No. 109 diklasifikasikan sebagai berikut:                     PSAK No. 109 are classified as follows:
        (i) liabilitas keuangan yang diukur dengan                    (i) financial liabilities at amortized cost
        biaya diamortisasi atau (ii) liabilitas                       or (ii) financial liabilities at fair value
        keuangan yang diukur dengan nilai wajar                       through profit or loss (FVPL). The Group
        melalui laba rugi. Grup menentukan                            determines the classification of its financial
        klasifikasi liabilitas keuangan pada saat                     liabilities at initial recognition.
        pengakuan awal.

        Seluruh liabilitas keuangan diakui pada                       All financial liabilities are recognized
        awalnya sebesar nilai wajar dan, dalam hal                    initially at fair value and, in the case of
        pinjaman dan utang, termasuk biaya                            loans and borrowings, inclusive of directly
        transaksi yang dapat diatribusikan secara                     attributable      transaction   costs    and
        langsung dan selanjutnya diukur pada                          subsequently measured at amortized
        biaya perolehan diamortisasi dengan                           cost using the effective interest rate
        menggunakan metode suku bunga efektif.                        method. The amortization of the effective
        Amortisasi suku bunga efektif disajikan                       interest rate is included in finance costs in
        sebagai bagian dari    beban     keuangan                     profit or loss.
        dalam laba rugi.

        Pada tanggal 31 Desember 2025 dan 2024,                       As of December 31, 2025 and 2024, the
        Grup memiliki instrumen keuangan dalam                        Group has financial instruments under
        kategori liabilitas keuangan yang diukur                      financial liabilities at amortized cost
        pada biaya perolehan diamortisasi.                            category.

        Liabilitas Keuangan yang Diukur pada Biaya                    Financial Liabilities at Amortized Cost
        Perolehan Diamortisasi

        Liabilitas keuangan pada biaya perolehan                      Financial liabilities at amortized cost is
        diamortisasi diukur pada jumlah yang diakui                   measured at initial amount minus the
        saat pengakuan awal dikurangi pembayaran                      principal repayments, plus or minus the
        pokok, ditambah atau dikurangi dengan                         cumulative amortization using the effective
        amortisasi kumulatif menggunakan metode                       interest method of any difference between
        suku bunga efektif yang dihitung dari selisih                 that initial amount and the maturity amount.
        antara nilai awal dan nilai jatuh temponya.

        Pada tanggal 31 Desember 2025 dan 2024,                       As of December 31, 2025 and 2024, the
        kategori ini meliputi utang usaha, beban                      Group’s trade accounts payable, accrued
        akrual, setoran jaminan dan liabilitas                        expenses, security deposits and other
        lain-lain yang dimiliki oleh Grup.                            liabilities are included in this category.



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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


        Saling Hapus Instrumen Keuangan                            Offsetting of Financial Instruments

        Aset keuangan dan liabilitas keuangan                      Financial assets and liabilities are offset
        saling hapus dan nilai bersihnya disajikan                 and the net amount reported in the
        dalam       laporan     posisi      keuangan               consolidated statement of financial position
        konsolidasian jika, dan hanya jika, Grup saat              if, and only if, there is a currently
        ini memiliki hak yang berkekuatan hukum                    enforceable right to offset the recognized
        untuk melakukan saling hapus atas jumlah                   amounts, and there is intention to settle on
        yang telah diakui tersebut; dan berniat untuk              a net basis, or to realize the asset and
        menyelesaikan secara neto atau untuk                       settle the liability simultaneously.
        merealisasikan aset dan menyelesaikan
        liabilitasnya secara simultan.

        Reklasifikasi Aset Keuangan                                Reclassification of Financial Assets

        Sesuai dengan ketentuan PSAK No. 109,                      In accordance with PSAK No. 109,
        Instrumen Keuangan, Grup mereklasifikasi                   Financial      Instruments,     the    Group
        seluruh aset keuangan dalam kategori yang                  reclassifies its financial assets when, and
        terpengaruh, jika dan hanya jika, Grup                     only when, the Group changes its business
        mengubah model bisnis untuk pengelolaan                    model for managing financial assets.
        aset keuangan tersebut. Sedangkan,                         While, any financial liabilities shall not be
        liabilitas keuangan tidak direklasifikasi.                 reclassified.

        Penurunan Nilai Aset Keuangan                              Impairment of Financial Assets

        Grup selalu mengakui kerugian kredit                       The Group always recognizes lifetime
        ekspektasian (ECL) sepanjang umur untuk                    expected credit losses (ECL) for trade
        piutang usaha. Kerugian kredit ekspetasian                 accounts receivable. The expected credit
        atas      aset     keuangan      diestimasi                losses on these financial assets are
        menggunakan pendekatan tingkat kerugian                    estimated using loss rate approach based
        berdasarkan pengalaman kerugian kredit                     on the Group’s historical credit loss
        historis Grup, disesuaikan dengan kondisi                  experience, adjusted for general economic
        ekonomi umum dan penilaian baik atas                       conditions and an assessment of both the
        kondisi kini maupun perkiraan masa depan                   current as well as the forecast direction of
        pada tanggal pelaporan, termasuk nilai                     conditions at the reporting date, including
        waktu atas uang jika tepat.                                time value of money where appropriate.

        Untuk semua instrumen keuangan lainnya,                    For all other financial instruments, the
        Grup mengakui ECL sepanjang umur ketika                    Group recognizes lifetime ECL when there
        telah ada peningkatan risiko kredit yang                   has been a significant increase in credit risk
        signifikan sejak pengakuan awal. Jika                      since initial recognition. If, on the other
        sebaliknya, risiko kredit pada instrumen                   hand, the credit risk on the financial
        keuangan tidak meningkat secara signifikan                 instrument has not increased significantly
        sejak pengakuan awal, Grup mengukur                        since initial recognition, the Group
        penyisihan kerugian untuk instrumen                        measures the loss allowance for that
        keuangan tersebut sejumlah ECL 12 bulan.                   financial instrument at an amount equal to
        Penilaian apakah ECL sepanjang umur                        12-month ECL. The assessment of
        harus diakui didasarkan pada peningkatan                   whether lifetime ECL should be recognized
        signifikan dalam kemungkinan terjadinya                    is based on significant increases in the
        atau pada risiko gagal bayar sejak                         likelihood or risk of a default occurring
        pengakuan awal dan bukan didasarkan bukti                  since initial recognition instead of on
        aset keuangan yang mengalami kerugian                      evidence of a financial asset being credit
        kredit pada tanggal pelaporan atau kejadian                impaired at the reporting date or an actual
        gagal bayar sebenarnya. ECL sepanjang                      default occurring. Lifetime ECL represents
        umur      merupakan      kerugian     kredit               the expected credit losses that will result
        ekspetasian yang timbul dari seluruh                       from all possible default events over the
        kemungkinan peristiwa gagal bayar selama                   expected life of a financial instrument. In
        perkiraan umur instrumen keuangan.                         contrast, 12-month ECL represents the
        Sebaliknya, ECL 12 bulan mewakili porsi                    portion of lifetime ECL that is expected to
        ECL sepanjang umur yang timbul dari                        result from default events on a financial
        peristiwa gagal bayar pada instrumen                       instrument that are possible within
        keuangan yang mungkin terjadi dalam                        12 months after the reporting date.
        12 bulan setelah tanggal pelaporan.


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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Penghentian Pengakuan            Aset    dan                  Derecognition of Financial Assets and
         Liabilitas Keuangan                                           Liabilities

         (1)   Aset Keuangan                                           (1)   Financial Assets

               Penghentian pengakuan atas suatu                              A financial asset, or where applicable,
               aset keuangan, atau, bila dapat                               a part of a financial asset or part of a
               diterapkan untuk bagian dari aset                             group of similar financial assets, is
               keuangan atau bagian dari kelompok                            derecognized when:
               aset keuangan serupa, terjadi apabila:

               a.   Hak kontraktual atas arus kas                            a.    The contractual rights to receive
                    yang berasal dari aset keuangan                                the cash flows from these
                    tersebut berakhir atau aset telah                              assets have ceased to exist or
                    dialihkan;                                                     the    assets     have      been
                                                                                   transferred;

               b.   Grup telah mengalihkan hak untuk                         b.    The Group has transferred its
                    menerima arus kas yang berasal                                 rights to receive cash flows from
                    dari aset keuangan tersebut atau                               the asset or has assumed an
                    menanggung kewajiban untuk                                     obligation to pay the received
                    membayar arus kas yang diterima                                cash flows in full without
                    tersebut tanpa penundaan yang                                  material delay to a third party
                    signifikan terhadap pihak ketiga                               under       a      “pass-through”
                    melalui     suatu    kesepakatan                               arrangement, and either (a) the
                    penyerahan dan (a) Grup secara                                 Group        has      transferred
                    substansial mengalihkan seluruh                                substantially all the risk and
                    risiko    dan     manfaat    atas                              rewards of the financial assets,
                    kepemilikan     aset   keuangan                                or (b) the Group has neither
                    tersebut, atau (b) Grup secara                                 transferred      nor      retained
                    substansial tidak mengalihkan                                  substantially all the risk and
                    maupun tidak mempertahankan                                    rewards of the assets, but has
                    seluruh risiko dan manfaat atas                                transferred control of the asset.
                    kepemilikan     aset   keuangan
                    tersebut,       namun       telah
                    mengalihkan pengendalian atas
                    aset keuangan tersebut.

         (2)   Liabilitas Keuangan                                     (2)   Financial Liabilities

               Liabilitas   keuangan        dihentikan                       A financial liability is derecognized
               pengakuannya jika liabilitas keuangan                         when the obligation under the
               tersebut berakhir, dibatalkan atau telah                      contract is discharged, cancelled or
               kadaluarsa.                                                   has expired.

    j.   Pengukuran Nilai Wajar                                  j.    Fair Value Measurement

         Pengukuran nilai wajar didasarkan pada                        The fair value measurement is based on
         asumsi bahwa transaksi untuk menjual aset                     the presumption that the transaction to sell
         atau mengalihkan liabilitas akan terjadi:                     the asset or transfer the liability takes place
                                                                       either:

         •     di pasar utama untuk aset atau                          •     in the principal market for the asset or
               liabilitas tersebut atau;                                     liability or;

         •     jika tidak terdapat pasar utama, di                     •     in the absence of a principal market,
               pasar yang paling menguntungkan                               in the most advantageous market for
               untuk aset atau liabilitas tersebut.                          the asset or liability.

         Grup harus memiliki akses ke pasar utama                     The Group must have access to the principal
         atau pasar yang paling menguntungkan                         or the most advantageous market at the
         pada tanggal pengukuran.                                     measurement date.



                                                     - 23 -
Page 278
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


         Nilai wajar aset atau liabilitas diukur                       The fair value of an asset or a liability is
         menggunakan asumsi yang akan digunakan                        measured using the assumptions that
         pelaku pasar ketika menentukan harga aset                     market participants would use when pricing
         atau liabilitas tersebut, dengan asumsi                       the asset or liability, assuming that market
         bahwa pelaku pasar bertindak dalam                            participants act in their economic best
         kepentingan ekonomi terbaiknya.                               interest.

         Pengukuran nilai wajar aset non-keuangan                      A fair value measurement of a
         memperhitungkan     kemampuan      pelaku                     non-financial asset takes into account a
         pasar    untuk   menghasilkan     manfaat                     market participant’s ability to generate
         ekonomik dengan menggunakan aset dalam                        economic benefits by using the asset in its
         penggunaan tertinggi dan terbaiknya, atau                     highest and best use or by selling it to
         dengan menjualnya kepada pelaku pasar                         another market participant that would use
         lain yang akan menggunakan aset tersebut                      the asset in its highest and best use.
         dalam penggunaan tertinggi dan terbaiknya.

         Ketika Grup menggunakan teknik penilaian,                     When the Group uses valuation techniques,
         maka Grup memaksimalkan penggunaan                            it maximizes the use of relevant observable
         input yang dapat diobservasi yang relevan                     inputs and minimizing the use of
         dan meminimalkan penggunaan input yang                        unobservable inputs.
         tidak dapat diobservasi.

         Seluruh aset dan liabilitas yang mana nilai                   All assets and liabilities for which fair value
         wajar aset atau liabilitas tersebut diukur atau               is measured or disclosed in the financial
         diungkapkan, dikategorikan dalam hirarki                      statements are categorized within the fair
         nilai wajar sebagai berikut:                                  value hierarchy as follows:

         •    Level 1 – harga kuotasian (tanpa                          •     Level 1 – Quoted (unadjusted) market
              penyesuaian) di pasar aktif untuk aset                          prices in active markets for identical
              atau liabilitas yang identik;                                   assets or liabilities;
         •    Level 2 – teknik penilaian dimana level                   •     Level 2 – Valuation techniques for
              input    terendah      yang   signifikan                        which the lowest level input that is
              terhadap pengukuran nilai wajar dapat                           significant   to      the fair  value
              diobservasi, baik secara langsung                               measurement is directly or indirectly
              maupun tidak langsung;                                          observable;
         •    Level 3 – teknik penilaian dimana level                   •     Level 3 – Valuation techniques for
              input    terendah      yang   signifikan                        which the lowest level input that is
              terhadap pengukuran nilai wajar tidak                           significant   to      the fair  value
              dapat diobservasi.                                              measurement is unobservable.

         Untuk aset dan liabilitas yang diukur pada                    For assets and liabilities that are recognized
         nilai wajar secara berulang dalam laporan                     in the consolidated financial statements on a
         keuangan konsolidasian, maka Grup                             recurring basis, the Group determines
         menentukan apakah telah terjadi transfer di                   whether there are transfers between levels
         antara level hirarki dengan menilai kembali                   in    the   hierarchy       by    re-assessing
         pengkategorian level nilai wajar pada setiap                  categorization at the end of each reporting
         akhir periode pelaporan.                                      period.

    k.   Persediaan                                               k.    Inventories

         Persediaan Real Estat                                          Real Estate Inventories

         Persediaan real estat terdiri dari tanah dan                   Real estate inventories consist of land and
         bangunan (rumah tinggal, rumah toko (ruko)                     buildings (houses, shophouses and
         dan bangunan strata title) yang siap dijual,                   buildings with strata title) ready for sale,
         bangunan (rumah tinggal, ruko dan                              buildings (houses, shophouses and
         bangunan strata title) yang sedang                             buildings    with    strata    title) under
         dikonstruksi, dan tanah yang sedang                            construction, and land under development
         dikembangkan dinyatakan sebesar nilai                          which are stated at the lower of cost and
         yang lebih rendah antara biaya perolehan                       net realizable value.
         atau nilai realisasi bersih (the lower of cost
         and net realizable value).



                                                      - 24 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


        Biaya perolehan tanah yang sedang                           The cost of land under development
        dikembangkan meliputi biaya perolehan                       consists of the acquisition cost of land for
        tanah    yang      belum   dikembangkan                     development,       direct   and      indirect
        ditambah dengan biaya pengembangan                          development costs and borrowing costs.
        langsung dan tidak langsung yang                            The total costs of land under development
        dapat    diatribusikan   pada    kegiatan                   is transferred to land and buildings ready
        pengembangan real estat serta biaya                         for sale when land development is
        pinjaman. Jumlah biaya tanah yang sedang                    completed, based on the area of saleable
        dikembangkan akan dipindahkan ke tanah                      lots.
        dan bangunan yang siap dijual pada saat
        tanah tersebut selesai dikembangkan
        dengan menggunakan metode luas areal.

        Biaya pengembangan tanah, termasuk                          The cost of land development, including the
        tanah yang digunakan sebagai jalan dan                      land used for roads and amenities and
        prasarana atau area yang tidak dijual                       other non-saleable areas, is allocated
        lainnya, dialokasikan berdasarkan luas area                 based on the saleable area of the project.
        yang dapat dijual.

        Biaya perolehan bangunan yang sedang                        The cost of building units under
        dikonstruksi adalah biaya konstruksi, dan                   construction includes construction costs,
        dipindahkan ke tanah dan bangunan pada                      and is transferred to land and buildings
        saat selesai dibangun dan siap dijual                       units ready for sale when the development
        dengan menggunakan metode identifikasi                      of land and construction of buildings is
        khusus.                                                     completed. Cost is determined using the
                                                                    specific identification method.

        Akumulasi biaya ke proyek pengembangan                      The allocation of costs to the real estate
        real estat tidak dihentikan walaupun realisasi              project continues even if the realization of
        pendapatan pada masa mendatang lebih                        future revenues is less than the carrying
        rendah dari nilai tercatat proyek. Namun,                   value of the project. However, periodic
        dilakukan cadangan secara periodik atas                     provisions are made for these differences.
        perbedaan tersebut. Jumlah cadangan                         The total provision reduces the carrying
        tersebut akan mengurangi nilai tercatat                     value of the project to its net realizable
        proyek dan dibebankan ke laba rugi tahun                    value, and is charged as an expense in the
        berjalan.                                                   current year when recognized.

        Biaya pemeliharaan dan perbaikan yang                       Expenses incurred for repairs and
        terjadi atas proyek yang sudah selesai dan                  maintenance of the completed projects,
        secara substansial siap untuk digunakan                     and those projects which are substantially
        sesuai tujuannya dibebankan pada laba rugi                  ready for use are charged to current
        pada saat terjadinya.                                       operations.

        Estimasi dan alokasi biaya harus dikaji                     Cost estimates and allocation are reviewed
        kembali pada setiap akhir periode pelaporan                 at the end of every reporting period until the
        sampai proyek selesai secara substansial.                   project is substantially completed. If there
        Apabila telah terjadi perubahan mendasar                    are any substantial changes from the
        pada estimasi kini, biaya direvisi, dan                     estimates, the Group revises the estimates
        direalokasi.                                                and reallocate costs.

        Beban yang tidak berhubungan dengan                         Costs which are not related to real estate
        proyek real estat dibebankan ke laba rugi                   development are charged to current
        pada saat terjadinya.                                       operations when incurred.




                                                    - 25 -
Page 280
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


         Persediaan dari Hotel dan Lainnya                             Hotel and Others Inventories

         Persediaan dari hotel dan lainnya                             Hotel and other inventories are stated at
         dinyatakan sebesar nilai yang lebih rendah                    the lower of cost and net realizable value.
         antara biaya perolehan atau nilai realisasi                   Cost is determined using the weighted
         bersih (the lower of cost and net realizable                  average method. Net realizable value is the
         value). Biaya perolehan ditentukan dengan                     current replacement cost. Hotel and others
         menggunakan metode rata-rata tertimbang                       inventories that no longer have economic
         (weighted average method). Persediaan dari                    value, based on management’s evaluation,
         hotel dan lainnya yang tidak lagi memiliki                    are written-off and charged to current
         manfaat ekonomis di masa mendatang                            operations.
         dihapuskan menjadi beban tahun berjalan
         berdasarkan penelaahan manajemen atas
         nilai ekonomis persediaan tersebut.

    l.   Investasi pada Entitas Asosiasi dan                      l.   Investments in Associates and Joint
         Ventura Bersama                                               Ventures

         Hasil usaha dan aset dan liabilitas entitas                   The results and assets and liabilities of
         asosiasi atau ventura bersama dicatat                         associates    or  joint  ventures     are
         dalam laporan keuangan konsolidasian                          incorporated in these consolidated
         menggunakan metode ekuitas.                                   financial statements using the equity
                                                                       method of accounting.

         Dalam metode ekuitas, pengakuan awal                          Under the equity method, an investment in
         investasi pada entitas asosiasi atau ventura                  an associate or a joint venture is initially
         bersama diakui pada laporan posisi                            recognized in the consolidated statement
         keuangan konsolidasian sebesar biaya                          of financial position at cost and adjusted
         perolehan dan selanjutnya disesuaikan                         there after to recognize the Group’s share
         untuk mengakui bagian Grup atas laba rugi                     of the profit or loss and other
         dan penghasilan komprehensif lain dari                        comprehensive income of the associate or
         entitas asosiasi atau ventura bersama. Jika                   joint venture. When the Group’s share of
         bagian Grup atas rugi entitas asosiasi atau                   losses of an associate or a joint venture
         ventura bersama adalah sama dengan atau                       exceeds the Group’s interest in that
         melebihi kepentingannya pada entitas                          associate or joint venture, the Group
         asosiasi atau ventura bersama, maka Grup                      discontinues recognizing its share of
         menghentikan pengakuannya atas rugi lebih                     further losses. Additional losses are
         lanjut. Kerugian lebih lanjut diakui hanya jika               recognized only to the extent that the
         Grup memiliki kewajiban konstruktif atau                      Group has incurred legal or constructive
         hukum atau melakukan pembayaran atas                          obligations or made payments on behalf of
         nama entitas asosiasi atau ventura                            the associate or joint venture.
         bersama.

         Investasi pada entitas asosiasi atau ventura                  An investment in an associate or a joint
         bersama dicatat menggunakan metode                            venture is accounted for using the equity
         ekuitas sejak tanggal investasi tersebut                      method from the date on which the
         memenuhi definisi entitas asosiasi atau                       investee becomes an associate or a joint
         ventura bersama.                                              venture.

         Pada setiap tanggal pelaporan, Grup                           The Group determines at each reporting
         menentukan apakah terdapat penurunan                          date whether it is necessary to recognize
         nilai yang harus diakui atas investasi Grup                   any impairment loss with respect to the
         pada entitas asosiasi atau ventura bersama.                   Group’s investment in an associate or a
                                                                       joint venture.




                                                      - 26 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


         Ketika entitas dalam Grup melakukan                        When a Group entity transacts with an
         transaksi dengan entitas asosiasi atau                     associate or a joint venture of the Group,
         ventura bersama milik Grup, keuntungan                     profits and losses resulting from the
         atau kerugian yang dihasilkan dari transaksi               transactions with the associate or joint
         tersebut diakui dalam laporan keuangan                     venture are recognized in the Group’s
         konsolidasian    Grup     hanya      sebatas               consolidated financial statements only to
         kepentingan para pihak dalam asosiasi atau                 the extent of interests in the associate or
         ventura bersama yang tidak terkait dengan                  joint venture that are not related to the
         Grup.                                                      Group.

    m. Biaya Dibayar Dimuka                                    m. Prepaid Expenses

         Biaya dibayar dimuka diamortisasi selama                   Prepaid expenses are amortized over their
         masa manfaat masing-masing biaya dengan                    beneficial periods using the straight-line
         menggunakan metode garis lurus.                            method.

    n.   Tanah yang Belum Dikembangkan                         n.   Land for Development

         Tanah      yang    belum    dikembangkan                   Land for development is stated at cost or
         dinyatakan sebesar biaya perolehan atau                    net realizable value, whichever is lower.
         nilai realisasi bersih, mana yang lebih                    Net realizable value is the estimated selling
         rendah. Nilai realisasi bersih merupakan                   price in the ordinary course of business,
         estimasi harga jual dalam kegiatan usaha                   less estimated costs of completion and the
         biasa dikurangi dengan estimasi biaya                      estimated costs necessary to make the
         penyelesaian dan estimasi biaya penjualan.                 sale.

         Biaya perolehan tanah yang belum                           The cost of land for development consists
         dikembangkan meliputi biaya pra-perolehan                  of pre-acquisition and acquisition costs of
         dan perolehan tanah ditambah biaya                         the land and borrowing costs, and is
         pinjaman dan dipindahkan ke tanah yang                     transferred to land under development
         sedang    dikembangkan      pada      saat                 when the development of land has started.
         pematangan tanah akan dimulai.

    o.   Aset Tetap                                            o.   Property and Equipment

         Pemilikan Langsung                                         Direct Acquisition

         Aset tetap, kecuali tanah, dinyatakan                      Property and equipment, except land, are
         berdasarkan biaya perolehan, tetapi tidak                  carried at cost, excluding day to day
         termasuk biaya perawatan sehari-hari,                      servicing, less accumulated depreciation
         dikurangi akumulasi penyusutan, akumulasi                  and amortization and any impairment in
         amortisasi dan akumulasi rugi penurunan                    value. Land is not depreciated and is stated
         nilai, jika ada. Tanah tidak disusutkan dan                at cost less any impairment in value, if any.
         dinyatakan berdasarkan biaya perolehan
         dikurangi akumulasi rugi penurunan nilai,
         jika ada.

         Biaya perolehan awal aset tetap meliputi                   The initial cost of property and equipment
         harga perolehan, termasuk bea impor dan                    consists of its purchase price, including
         pajak pembelian yang tidak boleh                           import duties and taxes and any directly
         dikreditkan dan biaya-biaya yang dapat                     attributable costs in bringing the property
         diatribusikan secara langsung untuk                        and equipment to its working condition and
         membawa aset ke lokasi dan kondisi yang                    location for its intended use.
         diinginkan    sesuai   dengan     tujuan
         penggunaan yang ditetapkan.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


        Beban-beban yang timbul setelah aset tetap                  Expenditures incurred after the property
        digunakan, seperti beban perbaikan dan                      and equipment have been put into
        pemeliharaan, dibebankan ke laba rugi pada                  operations,    such     as    repairs  and
        saat terjadinya. Apabila beban-beban                        maintenance costs, are normally charged
        tersebut menimbulkan peningkatan manfaat                    to operations in the year such costs are
        ekonomis di masa datang dari penggunaan                     incurred. In situations where it can be
        aset tetap tersebut yang dapat melebihi                     clearly demonstrated that the expenditures
        kinerja normalnya, maka beban-beban                         have resulted in an increase in the future
        tersebut dikapitalisasi sebagai tambahan                    economic benefits expected to be obtained
        biaya perolehan aset tetap.                                 from the use of the property and equipment
                                                                    beyond its originally assessed standard of
                                                                    performance, the expenditures are
                                                                    capitalized as additional costs of property
                                                                    and equipment.

        Penyusutan     dan amortisasi     dihitung                  Depreciation  and     amortization     are
        berdasarkan metode garis lurus (straight-                   computed on a straight-line basis over the
        line method) selama masa manfaat aset                       property and equipment’s useful lives or
        tetap atau periode sewa untuk perbaikan                     term of the lease for leasehold
        aset yang disewa, mana yang lebih singkat,                  improvements, whichever is shorter, as
        sebagai berikut:                                            follows:

                                                     Tahun/Years

        Bangunan                                          20           Buildings
        Sarana pelengkap bangunan                        4–8           Building improvements
        Perbaikan aset yang disewa                       4–8           Leasehold improvements
        Mesin-mesin                                      4–8           Machinery
        Inventaris                                       4–8           Furniture and fixtures
        Kendaraan                                        4–8           Transportation equipment

        Nilai tercatat aset tetap ditelaah kembali dan              The carrying values of property and
        dilakukan penurunan nilai apabila terdapat                  equipment are reviewed for impairment
        peristiwa atau perubahan kondisi tertentu                   when events or changes in circumstances
        yang mengindikasikan nilai tercatat tersebut                indicate that the carrying values may not be
        tidak dapat dipulihkan sepenuhnya.                          recoverable.

        Dalam setiap inspeksi yang signifikan, biaya                When each major inspection is performed,
        inspeksi diakui dalam jumlah tercatat aset                  its cost is recognized in the carrying
        tetap sebagai suatu penggantian apabila                     amount of the item of property and
        memenuhi kriteria pengakuan. Biaya                          equipment as a replacement if the
        inspeksi signifikan yang dikapitalisasi                     recognition criteria are satisfied. Such
        tersebut diamortisasi selama periode                        major inspection is capitalized and
        sampai dengan saat inspeksi signifikan                      amortized over the next major inspection
        berikutnya.                                                 activity.

        Jumlah tercatat aset tetap dihentikan                       An item of property and equipment is
        pengakuannya pada saat dilepaskan atau                      derecognized upon disposal or when no
        tidak ada manfaat ekonomis masa depan                       future economic benefits are expected from
        yang diharapkan dari penggunaan atau                        its use or disposal. Any gains or loss
        pelepasannya. Keuntungan atau kerugian                      arising from de-recognition of property and
        yang timbul dari penghentian pengakuan                      equipment is included in profit or loss in the
        aset tetap diakui dalam laba rugi pada tahun                period the item is derecognized.
        terjadinya penghentian pengakuan.

        Nilai residu, jika ada, umur manfaat, serta                 The asset’s residual values, if any, useful
        metode penyusutan dan amortisasi ditelaah                   lives and depreciation and amortization
        setiap    akhir    tahun   dan   dilakukan                  method are reviewed and adjusted if
        penyesuaian apabila hasil telaah berbeda                    appropriate, at each financial year end.
        dengan estimasi sebelumnya.



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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


         Aset Tetap Dalam Pembangunan                               Construction in Progress

         Aset tetap dalam pembangunan merupakan                     Construction in progress represents
         aset tetap dalam tahap konstruksi, yang                    property and equipment under construction
         dinyatakan pada biaya perolehan dan tidak                  which is stated at cost and is not
         disusutkan.     Akumulasi   biaya    akan                  depreciated. The accumulated costs are
         direklasifikasi ke akun aset tetap yang                    reclassified to the respective property and
         bersangkutan dan akan disusutkan pada                      equipment account and are depreciated
         saat konstruksi selesai secara substansial                 when the construction is substantially
         dan aset tersebut siap digunakan sesuai                    complete and the asset is ready for its
         tujuannya.                                                 intended use.

    p.   Properti Investasi                                    p.   Investment Properties

         Pemilikan Langsung                                         Direct Acquisition

         Properti    investasi   terdiri  dari   aset               Investment properties consisting of directly
         kepemilikan langsung dan aset tetap dalam                  acquired properties and properties under
         rangka bangun, kelola dan alih, kecuali                    Build, Operate and Transfer (BOT)
         tanah, diukur sebesar biaya perolehan,                     agreements, except land, are measured at
         termasuk biaya transaksi, setelah dikurangi                cost, including transaction costs, less
         dengan akumulasi penyusutan dan kerugian                   accumulated       depreciation and any
         penurunan nilai, jika ada. Tanah tidak                     impairment loss. Land is not depreciated
         disusutkan dan dinyatakan berdasarkan                      and is stated at cost less any impairment in
         biaya perolehan dikurangi rugi penurunan                   value. The carrying amount includes the
         nilai. Jumlah tercatat termasuk biaya                      cost of replacing part of an existing
         penggantian untuk bagian tertentu dari                     investment property at the time that cost is
         properti investasi yang telah ada pada saat                incurred if the recognition criteria are met;
         beban terjadi, jika kriteria pengakuan                     and excludes the costs of day to day
         terpenuhi, dan tidak termasuk biaya                        servicing of an investment property.
         perawatan sehari-hari properti investasi.

         Aset tetap dalam rangka bangun, kelola dan                 Properties under BOT agreements are
         alih adalah aset yang pembangunannya                       assets the development of which were
         didanai oleh Grup sampai dengan siap                       funded by the Group then managed by the
         dioperasikan, yang kemudian dikelola oleh                  Group until such time the asset is
         Grup dan selanjutnya diserahkan kepada                     transferred to asset holders at the end of
         pemilik aset pada saat berakhirnya                         concession period.
         perjanjian bangun, kelola dan alih.

         Properti investasi disusutkan dengan                       Investment properties are depreciated
         metode garis lurus (straight-line method)                  using the straight-line method based on
         selama estimasi masa manfaatnya yakni                      estimated useful lives of five (5) to thirty
         lima (5) sampai dengan tiga puluh (30)                     (30) years, except properties under BOT
         tahun, kecuali aset tetap dalam rangka                     agreement which are depreciated over the
         bangun, kelola dan alih yang disusutkan                    period of BOT agreements ranging from
         dengan jangka waktu antara dua puluh (20)                  twenty (20) to thirty (30) years.
         sampai dengan tiga puluh (30) tahun.




                                                   - 29 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Properti investasi dihentikan pengakuannya                   Investment properties, except properties
         (dikeluarkan dari laporan posisi keuangan                    under BOT agreements, are derecognized
         konsolidasian) pada saat pelepasan atau                      when either they have been disposed of or
         ketika properti investasi tersebut tidak                     when the investment properties are
         digunakan lagi secara permanen dan tidak                     permanently withdrawn from use and no
         memiliki manfaat ekonomis di masa depan                      future economic benefit is expected from its
         yang dapat diharapkan pada saat                              disposal. Any gains or losses on the
         pelepasannya. Keuntungan atau kerugian                       retirement or disposal of an investment
         yang timbul dari penghentian atau                            property are recognized in profit or loss in
         pelepasan properti investasi diakui dalam                    the year of retirement or disposal.
         laba    rugi    dalam     tahun   terjadinya                 Properties under BOT agreements are
         penghentian atau pelepasan tersebut. Aset                    derecognized upon transfer to asset
         tetap dalam rangka bangun, kelola dan alih                   holders at the end of BOT agreement
         dihentikan pengakuannya pada saat                            period by reversing all accounts related to
         penyerahan kepada pemilik aset pada saat                     the assets.
         berakhirnya perjanjian dengan menghapus
         seluruh akun yang timbul berkaitan dengan
         aset yang bersangkutan.

         Transfer ke properti investasi dilakukan jika,               Transfers are made to investment
         dan hanya jika, terdapat perubahan                           properties when, and only when, there is a
         penggunaan, yang ditunjukkan dengan                          change in use, evidenced by ending of
         berakhirnya pemakaian oleh pemilik, dan                      owner-occupation, and commencement of
         dimulainya sewa operasi ke pihak lain.                       an operating lease to another party.
         Transfer dari properti investasi dilakukan                   Transfers are made from investment
         jika, dan hanya jika, terdapat perubahan                     properties when, and only when, there is a
         penggunaan, yang ditunjukkan dengan                          change      in   use,    evidenced      by
         dimulainya penggunaan oleh pemilik atau                      commencement of owner-occupation or
         dimulainya pengembangan untuk dijual.                        commencement of development with a
                                                                      view to sale.

         Nilai residu, jika ada, umur manfaat, serta                  The asset’s residual values, if any, useful
         metode penyusutan dan amortisasi ditelaah                    lives and depreciation and amortization
         setiap    akhir    tahun   dan   dilakukan                   method are reviewed and adjusted if
         penyesuaian apabila hasil telaah berbeda                     appropriate, at each financial year end.
         dengan estimasi sebelumnya.

         Properti Investasi Dalam Pembangunan                         Construction in Progress

         Properti investasi dalam pembangunan                         Construction in progress represents
         merupakan properti investasi dalam tahap                     investment properties under construction
         konstruksi, yang dinyatakan pada biaya                       which is stated at cost and is not
         perolehan dan tidak disusutkan. Akumulasi                    depreciated. The accumulated costs are
         biaya akan direklasifikasi ke akun properti                  reclassified to the respective investment
         investasi yang bersangkutan dan akan                         properties account and are depreciated
         disusutkan pada saat konstruksi selesai                      when the construction is substantially
         secara substansial dan aset tersebut telah                   complete and the asset is ready for its
         siap untuk digunakan sesuai tujuannya.                       intended use.

    q.   Transaksi Sewa                                          q.   Lease Transactions

         Sebagai penyewa                                              As lessee

         Pada tanggal permulaan kontrak, Grup                         At the inception of a contract, the Group
         menilai apakah kontrak merupakan,                            assesses whether the contract is, or
         atau mengandung, sewa. Suatu kontrak                         contains, a lease. A contract is or contains
         merupakan atau mengandung sewa jika                          a lease if the contract conveys the right to
         kontrak      tersebut  memberikan   hak                      control the use of an identified assets
         untuk mengendalikan penggunaan aset                          for a period of time in exchange for
         identifikasian selama suatu jangka waktu                     consideration.
         untuk dipertukarkan dengan imbalan.


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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


        Untuk menilai apakah kontrak memberikan                    To assess whether a contract conveys the
        hak untuk mengendalikan penggunaan aset                    right to control the use of an identified
        identifikasian, Grup harus menilai apakah:                 asset, the Group shall assesses whether:

        -      Grup memiliki hak untuk mendapatkan                 -    The Group has the right to obtain
               secara substansial seluruh manfaat                       substantially all the economic benefits
               ekonomi      dari   penggunaan aset                      from use of the asset throughout the
               identifikasian; dan                                      period of use; and

        -      Grup memiliki hak untuk mengarahkan                 -    The Group has the right to direct the
               penggunaan aset identifikasian. Grup                     use of the asset. The Group has this
               memiliki hak ini ketika Grup memiliki                    right when it has the decision-making
               hak untuk pengambilan keputusan yang                     rights that are the most relevant to
               relevan tentang bagaimana dan untuk                      changing how and for what purpose
               tujuan apa aset digunakan telah                          the asset is used are predetermined:
               ditentukan sebelumnya dan:

               1.   Grup   memiliki    hak     untuk                    1.   The Group has the right to
                    mengoperasikan aset;                                     operate the asset;

               2.   Grup telah mendesain aset dengan                    2.   The Group has designed the
                    cara menetapkan sebelumnya                               asset in a way that predetermined
                    bagaimana dan untuk tujuan apa                           how and for what purpose it will be
                    aset akan digunakan selama                               used.
                    periode penggunaan.

            Pada tanggal awal dimulainya kontrak atau              At the inception or on reassessment of a
            pada tanggal penilaian kembali atas                    contract that contains a lease component,
            kontrak     yang     mengandung    sebuah              the Group allocates the consideration in the
            komponen sewa, Grup mengalokasikan                     contract to each lease component on the
            imbalan dalam kontrak ke masing-masing                 basis of their relative stand-alone prices
            komponen sewa berdasarkan harga                        and the aggregate stand-alone price of the
            tersendiri relatif dari komponen sewa dan              non-lease components.
            harga tersendiri agregat dari komponen
            nonsewa.

            Pada tanggal permulaan sewa, Grup                      The Group recognizes a right-of-use asset
            mengakui aset hak-guna dan liabilitas                  and a        lease liability at the    lease
            sewa. Aset hak-guna diukur pada biaya                  commencement date. The right-of-use
            perolehan,   dimana    meliputi   jumlah               assets are initially measured at cost, which
            pengukuran awal liabilitas sewa yang                   comprises the initial amount of the lease
            disesuaikan dengan pembayaran sewa                     liability adjusted for any lease payment
            yang dilakukan pada atau sebelum tanggal               made at or before the commencement
            permulaan.                                             date.

            Aset hak-guna kemudian disusutkan                      The right-of-use assets are subsequently
            menggunakan metode garis lurus dari                    depreciated using the straight-line method
            tanggal permulaan hingga tanggal yang                  from the commencement date to the earlier
            lebih awal antara akhir umur manfaat aset              of the end of the useful life of the right-of-
            hak-guna atau akhir masa sewa.                         use assets or the end of the lease term.

            Liabilitas sewa diukur pada nilai kini                 The lease liability is initially measured at
            pembayaran sewa yang belum dibayar                     the present value of the lease payments
            pada tanggal permulaan, didiskontokan                  that are not paid at the commencement
            dengan menggunakan suku bunga implisit                 date, discounted using the interest rate
            dalam sewa atau jika suku bunga tersebut               implicit in the lease or, if that rate cannot be
            tidak      dapat    ditentukan,     maka               readily determined, using incremental
            menggunakan suku bunga pinjaman                        borrowing rate. Generally, the Group uses
            inkremental. Pada umumnya, Grup                        its incremental borrowing rate as the
            menggunakan      suku     bunga pinjaman               discount rate.
            inkremental    sebagai    tingkat  bunga
            diskonto.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                      PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                  Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                     For the Years Ended
31 Desember 2025 dan 2024                                                   December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                   (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                       unless Otherwise Stated)


         Pembayaran sewa yang termasuk dalam                     Lease payments included in the
         pengukuran liabilitas sewa meliputi                     measurement of the lease liability comprise
         pembayaran berikut ini:                                 the following:

         -   pembayaran         tetap,   termasuk                 -   fixed    payments,   including   in-
             pembayaran tetap secara substansi;                       substance fixed payments;
         -   pembayaran sewa variabel yang                        -   variable lease payments that depend
             bergantung pada indeks atau suku                         on an index or a rate, initially
             bunga yang pada awalnya diukur                           measured using the index or rate as
             dengan menggunakan indeks atau                           at the commencement date;
             suku bunga pada tanggal permulaan;
         -   jumlah yang diperkirakan akan                        -   amount expected to be payable under
             dibayarkan oleh penyewa dengan                           a residual value guarantee;
             jaminan nilai residual;
         -   harga eksekusi opsi beli jika Grup                   -   the exercise price under a purchase
             cukup pasti untuk mengeksekusi opsi                      option that the Group is reasonably
             tersebut; dan                                            certain to exercise; and
         -   penalti karena penghentian awal sewa                 -   penalties for early termination of a
             kecuali jika Grup cukup pasti untuk                      lease unless the Group is reasonably
             tidak menghentikan lebih awal.                           certain not to terminate early.

         Pembayaran sewa dialokasikan menjadi                    Each lease payment is allocated between
         bagian pokok dan biaya keuangan. Biaya                  the liability and finance cost. The finance
         keuangan dibebankan pada laba rugi                      cost is charged to profit or loss over the
         selama      periode   sewa      sehingga                lease period so as to produce a constant
         menghasilkan tingkat suku bunga periodik                periodic rate of interest on the remaining
         yang konstan atas saldo liabilitas untuk                balance of the liability for each period.
         setiap periode.

         Jika sewa mengalihkan kepemilikan aset                  If the lease transfers ownership of the
         pendasar kepada Grup pada akhir masa                    underlying asset to the Group by the end of
         sewa atau jika biaya perolehan aset                     the lease term or if the cost of the right-of-
         hak-guna merefleksikan Grup akan                        use assets reflects that the Group will
         mengeksekusi opsi beli, maka Grup                       exercise a purchase option, the Group
         menyusutkan aset hak-guna dari tanggal                  depreciates the right-of-use assets from
         permulaan hingga akhir umur manfaat aset                the commencement date to the end of the
         pendasar. Jika tidak, maka Grup                         useful life of the underlying asset.
         menyusutkan aset hak-guna dari tanggal                  Otherwise, the Group depreciates the right-
         permulaan hingga tanggal yang lebih awal                of-use assets from the commencement
         antara akhir umur manfaat aset hak-guna                 date to the earlier of the end of the useful
         atau akhir masa sewa.                                   life of the right-of-use assets or the end of
                                                                 the lease term.

         Sewa jangka-pendek                                      Short-term leases

         Grup memutuskan untuk tidak mengakui                    The Group has elected not to recognize
         aset hak-guna dan liabilitas sewa untuk                 right-of-use assets and lease liabilities for
         sewa jangka- pendek yang memiliki masa                  short- term leases that have a lease term of
         sewa 12 bulan atau kurang. Grup mengakui                12 months or less. The Group recognizes
         pembayaran sewa atas sewa tersebut                      the lease payments associated with these
         sebagai beban dengan dasar garis lurus                  leases as an expense on a straight-line
         selama masa sewa.                                       basis over the lease term.

         Modifikasi sewa                                         Lease modification

         Grup mencatat modifikasi sewa sebagai                   The Group accounts for a lease
         sewa terpisah jika:                                     modification as a separate lease if both:

         -   modifikasi meningkatkan ruang lingkup                -   the modification increases the scope
             sewa dengan menambahkan hak                              of the lease by adding the right to use
             untuk   menggunakan       satu    aset                   one or more underlying assets; and
             pendasar atau lebih; dan


                                                 - 32 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                       PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                      For the Years Ended
31 Desember 2025 dan 2024                                                    December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                    (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                        unless Otherwise Stated)


         -   imbalan sewa meningkat sebesar                        -   the consideration for the lease
             jumlah yang setara dengan harga                           increases      by     an     amount
             tersendiri untuk peningkatan dalam                        commensurate with the stand-alone
             ruang lingkup dan penyesuaian yang                        price for the increase in scope and
             tepat pada harga tersendiri tersebut                      any appropriate adjustments to that
             untuk merefleksikan kondisi kontrak                       stand-alone price to reflect the
             tertentu.                                                 circumstances of the particular
                                                                       contract.

         Untuk modifikasi sewa yang tidak dicatat                 For a lease modification that is not
         sebagai sewa terpisah, pada tanggal efektif              accounted for a separate lease, at the
         modifikasi sewa, Grup:                                   effective date of the lease modification, the
                                                                  Group:

         -   mengukur       kembali            dan                 -   remeasures and          allocates the
             mengalokasikan  imbalan        kontrak                    consideration in        the    modified
             modifikasian;                                             contract;

         -   menentukan masa sewa dari sewa                        -   determine the lease term of the
             modifikasian;                                             modified lease;

         -   mengukur kembali liabilitas sewa                      -   remeasures the lease liability by
             dengan mendiskontokan pembayaran                          discounting the revised lease
             sewa revisi menggunakan tingkat                           payments using a revised discount
             diskonto revisi berdasarkan sisa umur                     rate on the basis of the remaining
             sewa dan sisa pembayaran sewa                             lease term and the remaining lease
             dengan     melakukan      penyesuaian                     payment with a corresponding
             terhadap aset hak-guna. Tingkat                           adjustment to the right-of-use assets.
             diskonto revisi ditentukan sebagai                        The revised discount rate is
             suku bunga pinjaman inkremental                           determined      as     the      Group’s
             Grup pada tanggal efektif modifikasi;                     incremental borrowing rate at the
                                                                       effective date of modification;

         -   menurunkan jumlah tercatat aset                       -   decreases the carrying amount of the
             hak-guna      untuk    merefleksikan                      right-of-use asset to reflect the partial
             penghentian       sebagian      atau                      or full termination of the lease for
             sepenuhnya sewa untuk modifikasi                          lease modifications that decrease the
             sewa yang menurunkan ruang lingkup                        scope of the lease. The Group
             sewa. Grup mengakui dalam laba rugi                       recognize in profit or loss any gain or
             setiap laba rugi yang terkait dengan                      loss relating to the partial or full
             penghentian       sebagian      atau                      termination of the lease; and
             sepenuhnya sewa tersebut; dan

         -   membuat penyesuaian terkait dengan                    -   makes a corresponding adjustment to
             aset hak-guna untuk seluruh modifikasi                    the right-of-use assets for all other
             sewa lainnya.                                             lease modifications.

         Sebagai pesewa                                           As lessor

         Ketika Grup bertindak sebagai pesewa,                    When the Group acts as a lessor, it shall
         Grup    mengklasifikasi masing-masing                    classify each of its leases as either an
         sewanya baik sewa operasi atau sewa                      operating lease or a financial lease.
         pembiayaan.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


         Untuk mengklasifikasi masing-masing                        To classify each lease, the Group makes
         sewa, Grup membuat penilaian secara                        an overall assessment of whether the lease
         keseluruhan       atas    apakah    sewa                   transfers substantially all of the risks and
         mengalihkan secara substansial seluruh                     rewards incidental to ownership of the
         risiko dan manfaat yang terkait dengan                     underlying asset. If this is the case, then the
         kepemilikan aset pendasar. Jika penilaian                  lease is classified as a finance lease; if not,
         membuktikan hal tersebut, maka sewa                        then it is an operating lease. As part of this
         diklasifikasikan sebagai sewa pembiayaan;                  assessment, the Group consider certain
         jika tidak maka, merupakan sewa operasi.                   indicators such as whether the lease term
         Sebagai bagian dari penilaian ini, Grup                    is for the major part of the economic life of
         mempertimbangkan beberapa indikator                        the asset.
         seperti apakah masa sewa adalah
         sebagian besar dari umur ekonomik aset
         pendasar.

    r.   Goodwill                                              r.   Goodwill

         Goodwill merupakan selisih lebih biaya                     Goodwill represents the excess of the cost
         perolehan akuisisi atas nilai wajar                        of an acquisition over the fair value of the
         kepemilikan Grup pada aset teridentifikasi                 Group’s share of the net identifiable assets
         milik entitas anak yang diakuisisi pada                    of the acquired subsidiary at the date of
         tanggal akuisisi. Goodwill diuji penurunan                 acquisition. Goodwill is tested annually for
         nilainya setiap tahun dan dicatat sebesar                  impairment and carried at cost less
         biaya     perolehan      dikurangi  dengan                 accumulated         impairment        losses.
         akumulasi penurunan nilai. Penurunan nilai                 Impairment losses on goodwill are not
         goodwill tidak dapat dipulihkan. Keuntungan                reversed. Gains and losses on the disposal
         atau kerugian yang diakui pada saat                        of an entity include the carrying amount of
         pelepasan        entitas      anak    harus                goodwill relating to the entity sold.
         memperhitungkan nilai tercatat goodwill dari
         entitas anak yang dijual tersebut.

         Goodwill dialokasikan ke UPK untuk tujuan                  Goodwill is allocated to CGU for the
         uji penurunan nilai. Alokasi dilakukan ke                  purpose of impairment testing. The
         UPK atau kelompok UPK yang diharapkan                      allocation is made to those CGU or groups
         akan mendapat manfaat dari kombinasi                       of CGU that are expected to benefit from
         bisnis yang menimbulkan goodwill tersebut.                 the business combination in which the
                                                                    goodwill arose.

    s.   Distribusi Dividen                                    s.   Dividend Distribution

         Distribusi dividen kepada pemegang saham                   Dividend distribution to the Group’s
         Grup diakui sebagai liabilitas dalam laporan               stockholders is recognized as a liability in
         keuangan konsolidasian dalam periode saat                  the consolidated financial statements in the
         dividen tersebut disetujui oleh pemegang                   period in which the dividends are approved
         saham Grup.                                                by the Group’s stockholders.

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

         Pada setiap akhir periode pelaporan                        The Group assesses at each annual
         tahunan, Grup menelaah apakah terdapat                     reporting period whether there is an
         indikasi suatu aset mengalami penurunan                    indication that an asset may be impaired. If
         nilai. Jika terdapat indikasi tersebut atau                any such indication exists, or when annual
         pada saat uji tahunan penurunan nilai aset                 impairment testing for an asset is required,
         perlu dilakukan, maka Grup membuat                         the Group makes an estimate of the asset’s
         estimasi jumlah terpulihkan aset tersebut.                 recoverable amount.




                                                   - 34 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Jika nilai tercatat aset lebih besar daripada                Where the carrying amount of an asset
         nilai terpulihkannya, maka aset tersebut                     exceeds its recoverable amount, the asset
         dinyatakan mengalami penurunan nilai                         is considered impaired and impairment
         dan rugi penurunan nilai diakui dalam laba                   losses are recognized in profit or loss. In
         rugi. Dalam menghitung nilai pakai, estimasi                 assessing the value in use, the estimated
         arus kas masa depan bersih didiskontokan                     net future cash flows are discounted to their
         ke nilai kini dengan menggunakan tingkat                     present value using a pre-tax discount rate
         diskonto sebelum pajak yang mencerminkan                     that reflects current market assessments of
         penilaian pasar kini dari nilai waktu uang dan               the time value of money and the risks
         risiko spesifik atas aset.                                   specific to the asset.

         Penelaahan dilakukan pada akhir setiap                       An assessment is made at each reporting
         periode pelaporan untuk mengetahui                           period as to whether there is any indication
         apakah terdapat indikasi bahwa rugi                          that previously recognized impairment
         penurunan nilai aset yang telah diakui dalam                 losses recognized for an asset may no
         periode sebelumnya mungkin tidak ada lagi                    longer exist or may have decreased. If such
         atau mungkin telah menurun. Jika indikasi                    indication exists, the recoverable amount is
         dimaksud       ditemukan,        maka     Grup               estimated. A previously recognized
         mengestimasi jumlah terpulihkan aset                         impairment loss for an asset is reversed in
         tersebut. Kerugian penurunan nilai yang                      profit or loss to the extent that the carrying
         diakui dalam periode sebelumnya akan                         amount of the assets does not exceed its
         dipulihkan apabila nilai tercatat aset tidak                 recoverable amount nor exceed the
         melebihi jumlah terpulihkannya maupun nilai                  carrying amount that would have been
         tercatat,   neto      setelah      penyusutan,               determined, net of depreciation, had no
         seandainya tidak ada rugi penurunan nilai                    impairment loss been recognized for the
         yang telah diakui untuk aset tersebut                        asset in prior periods. After such a reversal,
         pada periode-periode sebelumnya. Setelah                     the depreciation charge on the said asset
         pemulihan tersebut, penyusutan aset                          is adjusted in future periods to allocate the
         tersebut disesuaikan di periode mendatang                    asset’s revised carrying amount, less any
         untuk mengalokasikan nilai tercatat aset                     residual value, on a systematic basis over
         yang direvisi, dikurangi nilai sisanya, dengan               its remaining useful life.
         dasar yang sistematis selama sisa umur
         manfaatnya.

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

         Pengakuan Pendapatan                                         Revenue Recognition

         Pendapatan dari kontrak dengan pelanggan                     Revenue from contracts with customers

         Grup menerapkan PSAK No. 115 yang                            The Group has applied PSAK No. 115,
         mensyaratkan pengakuan pendapatan                            which requires revenue recognition to fulfill
         harus memenuhi 5 langkah analisa sebagai                     5 steps of assessment:
         berikut:

         1. Identifikasi kontrak dengan pelanggan.                    1. Identify contract(s) with a customer.

         2. Identifikasi kewajiban pelaksanaan                        2. Identify the performance obligations in
            dalam kontrak. Kewajiban pelaksanaan                         the contract. Performance obligations
            merupakan janji-janji dalam kontrak                          are promises in a contract to transfer
            untuk menyerahkan barang atau jasa                           to a customer goods or services that
            yang memiliki karakteristik berbeda ke                       are distinct.
            pelanggan.




                                                     - 35 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


        3. Penetapan harga transaksi. Harga                           3. Determine the transaction price.
           transaksi merupakan jumlah imbalan                            Transaction price is the amount of
           yang      berhak     diperoleh   suatu                        consideration to which an entity
           entitas sebagai kompensasi atas                               expects to be entitled in exchange for
           diserahkannya barang atau jasa yang                           transferring promised goods or
           dijanjikan ke pelanggan. Jika imbalan                         services to a customer. If the
           yang dijanjikan di kontrak mengandung                         consideration promised in a contract
           suatu jumlah yang bersifat variable,                          includes a variable amount, the Group
           maka Grup membuat estimasi jumlah                             estimates the amount of consideration
           imbalan tersebut sebesar jumlah yang                          to which it expects to be entitled in
           diharapkan berhak diterima atas                               exchange for transferring the promised
           diserahkannya barang atau jasa yang                           goods or services to a customer less
           dijanjikan ke pelanggan dikurangi                             the estimated amount of service level
           dengan estimasi jumlah jaminan kinerja                        guarantee which will be paid during the
           jasa yang akan dibayarkan selama                              contract period.
           periode kontrak.

        4. Alokasi harga transaksi ke setiap                          4. Allocate the transaction price to each
           kewajiban       pelaksanaan      dengan                       performance obligation on the basis of
           menggunakan dasar harga jual berdiri                          the relative stand-alone selling prices
           sendiri relatif dari setiap barang atau                       of each distinct goods or services
           jasa berbeda yang dijanjikan di kontrak.                      promised in the contract. Where this
           Ketika tidak dapat diamati secara                             are not directly observable, the relative
           langsung, harga jual berdiri sendiri relatif                  stand-alone selling price are estimated
           diperkirakan berdasarkan biaya yang                           based on expected cost plus margin.
           diharapkan ditambah marjin.

        5. Pengakuan       pendapatan       Ketika                    5. Recognize         revenue        when
           kewajiban pelaksanaan telah dipenuhi                          performance obligation is satisfied by
           dengan menyerahkan barang atau jasa                           transferring a promised goods or
           yang dijanjikan ke pelanggan (ketika                          services to a customer (which is when
           pelanggan telah memiliki pengendalian                         the customer obtains control of that
           atas barang atau jasa tersebut).                              goods or services).

        Kewajiban pelaksanaan dapat dipenuhi                         A performance obligation may be satisfied
        dengan 2 cara, yakni:                                        at the following:

        1.   Suatu titik waktu (umumnya janji untuk                  1.   A point in time (typically for promises
             menyerahkan barang ke pelanggan);                            to transfer goods to a customer); or
             atau

        2.   Suatu periode waktu (umumnya janji                      2.   Over time (typically for promises to
             untuk     menyerahkan     jasa    ke                         transfer services to a customer). For
             pelanggan).      Untuk     kewajiban                         a performance obligation satisfied
             pelaksanaan yang dipenuhi dalam                              over time, the Group selects an
             suatu periode waktu, Grup memilih                            appropriate measure of progress to
             ukuran penyelesaian yang sesuai                              determine the amount of revenue that
             untuk penentuan jumlah pendapatan                            should be recognized as the
             yang harus diakui karena telah                               performance obligation is satisfied.
             terpenuhi kewajiban pelaksanaan.

        Pembayaran harga transaksi berbeda untuk                     Payment of the transaction price is different
        setiap kontrak. Aset kontrak diakui ketika                   for each contract. A contract asset is
        jumlah penerimaan dari pelanggan kurang                      recognized once the consideration paid by
        dari saldo kewajiban pelaksanaan yang                        customer is less than the balance of
        telah dipenuhi. Kewajiban kontrak diakui                     performance obligation which has been
        ketika jumlah penerimaan dari pelanggan                      satisfied. A contract liability is recognized
        lebih dari saldo kewajiban pelaksanaan yang                  once the consideration paid by customer is
        telah dipenuhi. Liabilitas kontrak disajikan                 more than the balance of performance
        sebagai "Liabilitas kontrak” pada laporan                    obligation which has been satisfied.
        posisi keuangan konsolidasian.                               Contract liabilities are presented as
                                                                     "Contract liabilities” in the consolidated
                                                                     statements of financial position.



                                                     - 36 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


        Kewajiban Grup terhadap kontrak dengan                      The obligation of the Group from the
        pelanggan sehubungan dengan pendapatan                      contracts with customers relating to below
        dibawah ini ditentukan sebagai kewajiban                    revenues are determined to be a single
        pelaksanaan tunggal yang dipenuhi pada                      performance obligations which satisfied at
        suatu titik waktu:                                          a point in time:

        •   Pendapatan dari penjualan persediaan                    •   Revenues from sale of real estate
            real estat diakui pada saat pengendalian                    inventories are recognized when the
            atas persediaan real estat telah dialihkan                  control over the real estate inventories
            kepada pelanggan.                                           has been transferred to customers.

        •   Pendapatan jasa pelayanan diakui pada                   •   Service revenues are recognized when
            saat jasa diberikan.                                        services are rendered.
        •   Pendapatan       kamar  hotel   diakui                  •   Hotel room revenues are based on
            berdasarkan tingkat hunian sementara                        actual room occupancy, while other
            pendapatan hotel lainnya diakui pada                        hotel revenues are recognized when
            saat barang atau jasa telah diberikan                       goods are delivered or when services
            kepada pelanggan.                                           are rendered to hotel guests.

        •   Pendapatan dari iuran keanggotaan klub                  •   Club    membership     revenue  is
            diakui   sesuai     dengan     periode                      recognized based on the membership
            keanggotaan.                                                period.

        Pendapatan Sewa                                             Rental Revenues

        Pendapatan sewa         diakui   berdasarkan                Rental revenue is recognized on a straight-
        berlalunya waktu.                                           line basis over the term of the lease
                                                                    contract.

        Pendapatan Bunga                                            Interest Income

        Pendapatan bunga dari instrumen keuangan                    Interest income from all financial
        diakui dalam laba rugi secara akrual                        instruments are recognized in profit or loss
        menggunakan metode suku bunga efektif.                      on accrual basis using the effective interest
                                                                    rate method.

        Pengakuan Beban                                             Expense Recognition

        Biaya penambahan yang secara langsung                       The incremental costs that directly relate to
        berhubungan untuk mendapatkan kontrak                       obtaining a contract (“cost to obtain”) and
        ("biaya untuk memperoleh") dan diharapkan                   are expected to be recovered are eligible
        dapat dipulihkan, biaya tersebut dengan                     for capitalization under PSAK No. 115 and
        demikian memenuhi syarat kapitalisasi                       included as part of “prepaid expenses”
        berdasarkan PSAK No. 115 dan termasuk                       account. Such costs are recognized in
        sebagai bagian dari akun “biaya dibayar                     profit or loss upon transfer of the goods or
        dimuka”. Beban tersebut diakui pada laba                    services to which such asset relates.
        rugi pada saat penyerahan barang atau jasa
        yang terkait dengan aset tersebut.

        Beban pokok penjualan diakui pada saat                      Cost of sales are recognized when incurred
        terjadinya (metode akrual). Termasuk                        (accrual method). Cost of sales includes
        didalam beban pokok penjualan adalah                        estimated costs for future development of
        taksiran beban untuk pengembangan                           amenities on land that is already sold.
        prasarana di masa yang akan datang atas
        tanah yang telah terjual.

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




                                                    - 37 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Beban bunga dari instrumen keuangan                          Interest expense for all financial
         diakui dalam laba rugi secara akrual                         instruments are recognized in profit or loss
         menggunakan metode suku bunga efektif.                       on accrual basis using the effective interest
                                                                      rate method.

    v.   Imbalan Kerja                                           v.   Employee Benefits

         Liabilitas Imbalan Kerja Jangka Pendek                       Short-term Employee Benefits Liability

         Imbalan kerja jangka pendek diakui sebesar                   Short-term      employee     benefits  are
         jumlah yang tak-terdiskonto sebagai                          recognized at its undiscounted amount as
         liabilitas pada laporan posisi keuangan                      a liability after deducting any amount
         konsolidasian setelah dikurangi dengan                       already paid in the consolidated statement
         jumlah yang telah dibayar dan sebagai                        of financial position and as an expense in
         beban dalam laba rugi.                                       profit or loss.

         Liabilitas Imbalan Kerja Jangka Panjang                      Long-term Employee Benefits Liability

         Liabilitas imbalan kerja jangka panjang                      Long-term employee benefits liability
         merupakan manfaat pasti yang dibentuk                        represents post-employment benefits,
         dengan pendanaan khusus melalui program                      funded defined-benefit plans through a
         dana pensiun dan didasarkan pada masa                        certain pension fund which amounts are
         kerja dan jumlah penghasilan karyawan                        determined based on years of service and
         pada      saat    pensiun   yang     dihitung                salaries of the employees at the time of
         menggunakan metode Projected Unit Credit.                    pension and calculated using the Projected
         Pengukuran kembali liabilitas imbalan pasti                  Unit Credit. Remeasurement is reflected
         langsung diakui dalam laporan posisi                         immediately in the consolidated statement
         keuangan konsolidasian dan penghasilan                       of financial position with a charge or credit
         komprehensif lain pada periode terjadinya                    recognized in other comprehensive income
         dan tidak akan direklasifikasi ke laba rugi,                 in the period in which they occur and not to
         namun menjadi bagian dari saldo laba.                        be reclassified to profit or loss but reflected
         Biaya liabilitas imbalan pasti lainnya terkait               immediately in retained earnings. All other
         dengan program imbalan pasti diakui dalam                    costs related to the defined-benefit plan are
         laba rugi.                                                   recognized in profit or loss.

         Pada tanggal 2 Februari 2021, Pemerintah                     On February 2, 2021, the Government
         mengundangkan      dan    memberlakukan                      promulgated    Government       Regulation
         Peraturan Pemerintah Nomor 35 Tahun                          Number 35 Year 2021 (PP 35/2021) to
         2021 (PP 35/2021) untuk melaksanakan                         implement the provisions of Article 81 and
         ketentuan Pasal 81 dan Pasal 185 (b) UU                      Article 185 (b) of Law No. 11/2020
         No. 11/2020 mengenai Cipta Kerja yang                        concerning Job Creation (Cipta Kerja),
         bertujuan untuk menciptakan lapangan kerja                   which aims to create the widest possible
         yang seluas-luasnya.                                         employment opportunities.

         Presiden     Republik     Indonesia    telah                 The President of the Republic of Indonesia
         menetapkan        Peraturan     Pemerintah                   has issued Government Regulation in Lieu
         Pengganti Undang-Undang No. 2 Tahun                          of Law No. 2 of 2022 concerning Job
         2022 tentang Cipta Kerja (Perppu Cipta                       Creation (Perppu Cipta Kerja 2/2022)
         Kerja 2/2022) pada tanggal 30 Desember                       on      December     30,   2022      which
         2022 yang merupakan pelaksanaan dari                         is     the    implementation      of   the
         Putusan MK Nomor 91/PUU-XVIII/2020.                          Constitutional Court’s Decision Number
         Dengan berlakunya Perppu ini, UU                             91/PUU-XVIII/2020. With the enactment of
         No. 11/2020 tentang Cipta Kerja dicabut dan                  this Perppu, Law No. 11/2020 concerning
         dinyatakan tidak berlaku. Perppu Cipta Kerja                 Job Creation is repealed and declared
         2/2022     telah     ditetapkan     menjadi                  invalid. Perppu Cipta Kerja 2/2022 has
         Undang-Undang pada tanggal 31 Maret                          been enacted into law on March 31, 2023,
         2023 berdasarkan Undang-Undang No. 6                         based on Law No. 6 of 2023.
         Tahun 2023.




                                                     - 38 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


        Penyisihan          dihitung         dengan                  The provision has been calculated by
        membandingkan manfaat yang akan                              comparing the benefit that will be received
        diterima oleh karyawan pada umur wajar                       by an employee at normal pension age
        pensiun dari dana pensiun dengan manfaat                     from the pension plan with the benefit
        yang diatur dalam UU No. 6 Tahun 2023                        as stipulated under the Law No. 6 of 2023
        setelah dikurangi akumulasi kontribusi dari                  after deduction of accumulated employee
        karyawan dan hasil investasi yang berkaitan.                 contributions and the related investment
        Jika manfaat dana pensiun yang didanai                       results. If the employer- funded portion of
        pemberi kerja lebih kecil dari manfaat sesuai                the pension plan benefit is less than the
        UU No. 6 Tahun 2023, Grup akan                               benefit as required by the Law No. 6
        menyediakan kekurangannya.                                   of 2023, the Group will provide for such
                                                                     shortage.

        Pesangon Pemutusan Kontrak Kerja                             Termination Benefits

        Pesangon pemutusan kontrak terutang                          Termination benefits are payable whenever
        ketika karyawan dihentikan kontrak kerjanya                  an employee’s employment is terminated
        sebelum usia pensiun normal. Grup                            before the normal retirement date. The
        mengakui pesangon pemutusan kontrak                          Group recognizes termination benefits
        kerja     ketika    Grup      menunjukkan                    when it is demonstrably committed to
        komitmennya      untuk    memberhentikan                     terminate the employment of current
        kontrak kerja dengan karyawan berdasarkan                    employees according to a detailed formal
        suatu rencana formal terperinci yang kecil                   plan with a low possibility of withdrawal.
        kemungkinan untuk dibatalkan.

    w. Pajak Penghasilan                                         w. Income Tax

        Pajak Kini                                                   Current Tax

        Beban pajak kini ditentukan berdasarkan                      Current tax expense is determined based
        laba kena pajak dalam tahun yang                             on the taxable income for the year
        bersangkutan yang dihitung berdasarkan                       computed using prevailing tax rates.
        tarif pajak yang berlaku.

        Pajak Tangguhan                                              Deferred Tax

        Pajak tangguhan diakui sebagai liabilitas jika               Deferred tax is provided using the liability
        terdapat perbedaan temporer kena pajak                       method on temporary differences between
        yang timbul dari perbedaan antara dasar                      the tax bases of assets and liabilities and
        pengenaan pajak aset dan liabilitas dengan                   their carrying amounts for financial
        jumlah tercatatnya pada tanggal pelaporan.                   reporting purposes at the reporting date.

        Aset pajak tangguhan diakui untuk seluruh                    Deferred tax assets are recognized for all
        perbedaan      temporer      yang    dapat                   deductible temporary differences and the
        dikurangkan dan rugi fiskal yang dapat                       carry forward benefit of any unused tax
        dikompensasikan. Aset pajak tangguhan                        losses. Deferred tax assets are recognized
        diakui dan direviu pada setiap tanggal                       and reviewed at each reporting date and
        pelaporan     atau    diturunkan    jumlah                   reduced to the extent that it is probable that
        tercatatnya, sepanjang kemungkinan besar                     taxable profit will be available against
        laba kena pajak tersedia untuk pemanfaatan                   which the deductible temporary differences
        perbedaan      temporer      yang    dapat                   and the carry forward benefit of unused tax
        dikurangkan dan rugi fiskal yang dapat                       losses can be utilized.
        dikompensasikan.

        Aset dan liabilitas pajak tangguhan diukur                   Deferred tax assets and liabilities are
        dengan menggunakan tarif pajak yang                          measured at the tax rates that are expected
        diharapkan berlaku ketika aset dipulihkan                    to apply in the year when the asset is
        atau liabilitas diselesaikan, berdasarkan tarif              realized or the liability is settled, based on
        pajak (atau peraturan pajak) yang telah                      tax rates (or tax laws) that have been
        berlaku atau secara substantif telah berlaku                 enacted or substantively enacted at the
        pada tanggal pelaporan.                                      reporting date.


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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


         Aset pajak tangguhan dan liabilitas pajak                   Deferred tax assets and deferred tax
         tangguhan saling hapus jika dan hanya jika,                 liabilities are offset if and only if, a legally
         terdapat hak yang dipaksakan secara                         enforceable right exists to set off current
         hukum untuk melakukan saling hapus aset                     tax assets against current tax liabilities and
         pajak kini terhadap liabilitas pajak kini dan               the deferred taxes relate to the same
         pajak tangguhan tersebut terkait dengan                     taxable entity and the same taxation
         entitas kena pajak yang sama dan                            authority.
         dikenakan oleh otoritas perpajakan yang
         sama.

    x.   Biaya Emisi Saham                                      x.   Stock Issuance Costs

         Biaya emisi saham disajikan sebagai bagian                  Stock issuance costs are deducted from
         dari akun tambahan modal disetor dan tidak                  additional paid-in capital and are not
         diamortisasi.                                               amortized.

    y.   Laba per Saham                                         y.   Earnings Per Share

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

    z.   Informasi Segmen                                       z.   Segment Information

         Informasi segmen disusun sesuai dengan                      Segment information is prepared using the
         kebijakan akuntansi yang dianut dalam                       accounting policies adopted for preparing
         penyusunan    dan    penyajian  laporan                     and presenting the consolidated financial
         keuangan konsolidasian.                                     statements.

         Segmen operasi diidentifikasi berdasarkan                   Operating segments are identified on the
         laporan internal atas komponen-komponen                     basis of internal reports about components
         Grup yang secara berkala dilaporkan                         of the Group that are regularly reviewed by
         kepada pengambil keputusan operasional                      the chief operating decision maker in order
         dalam rangka alokasi sumber daya ke dalam                   to allocate resources to the segments and
         segmen dan penilaian kinerja Grup.                          to assess their performances.

    aa. Provisi                                                 aa. Provisions

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

         Jumlah yang diakui sebagai provisi                          The amount recognized as a provision is
         adalah hasil estimasi terbaik pengeluaran                   the best estimate of the consideration
         yang diperlukan untuk menyelesaikan                         required to settle the obligation at the
         kewajiban kini pada tanggal pelaporan,                      reporting date, taking into account the risks
         dengan mempertimbangkan risiko dan                          and     uncertainties     surrounding     the
         ketidakpastian terkait kewajiban tersebut.                  obligation.




                                                    - 40 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                           For the Years Ended
31 Desember 2025 dan 2024                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


3.   Penggunaan Estimasi, Pertimbangan, dan                    3.   Management Use of Estimates, Judgments,
     Asumsi Manajemen                                               and Assumptions

     Dalam penerapan kebijakan akuntansi Grup,                      In the application of the Group’s accounting
     seperti yang diungkapkan dalam Catatan 2 pada                  policies, which are described in Note 2 to
     laporan keuangan konsolidasian, manajemen                      the     consolidated    financial   statements,
     harus membuat estimasi, pertimbangan, dan                      management is required to make estimates,
     asumsi atas nilai tercatat aset dan liabilitas yang            judgments, and assumptions about the carrying
     tidak tersedia oleh sumber-sumber lain. Estimasi               amounts of assets and liabilities that are not
     dan asumsi tersebut, berdasarkan pengalaman                    readily apparent from other sources. The
     historis dan faktor lain yang dipertimbangkan                  estimates and assumptions are based on
     relevan.                                                       historical experience and other factors that are
                                                                    considered to be relevant.

     Manajemen berkeyakinan bahwa pengungkapan                      Management believes that the following
     berikut telah mencakup ikhtisar estimasi,                      represent a summary of the significant
     pertimbangan dan asumsi signifikan yang dibuat                 estimates, judgments, and assumptions made
     oleh manajemen, yang berpengaruh terhadap                      that affected certain reported amounts and
     jumlah-jumlah    yang     dilaporkan     serta                 disclosures in the consolidated financial
     pengungkapan dalam laporan keuangan                            statements.
     konsolidasian.

     Pertimbangan                                                   Judgments

     Pertimbangan-pertimbangan berikut dibuat oleh                  The following judgments are made by
     manajemen dalam proses penerapan kebijakan                     management in the process of applying the
     akuntansi Grup yang memiliki dampak yang                       Group’s accounting policies that have the most
     paling signifikan terhadap jumlah-jumlah yang                  significant effects on the amounts recognized in
     diakui dalam laporan keuangan konsolidasian:                   the consolidated financial statements:

     a.   Pengendalian Bersama pada Pengaturan                      a.   Joint Control in Joint Arrangements
          Bersama

          Pengendalian bersama atas suatu aktivitas                      Joint control over an economic activity
          ekonomi terjadi jika keputusan keuangan                        exists only when the strategic financial and
          dan operasional strategis terkait dengan                       operating decisions relating to the activity
          aktivitas tersebut mensyaratkan konsensus                      require unanimous consent of the parties
          dari    seluruh    pihak   yang    berbagi                     sharing control.
          pengendalian.




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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


         Manajemen Grup menetapkan bahwa Grup                        The Group’s management determined that
         memiliki    pengendalian   atas   ventura                   it has joint control over the joint ventures as
         bersama seperti yang diungkapkan pada                       disclosed in Note 12, since the decision on
         Catatan 12, karena keputusan terkait                        economic activities of these joint ventures
         aktivitas ekonomi pada ventura bersama                      are made by the Group jointly with the other
         dibuat oleh Grup bersama-sama dengan                        venturers.
         pihak-pihak yang berbagi pengendalian.

    b.   Mata Uang Fungsional                                   b.   Functional Currency

         Mata uang fungsional Perusahaan dan                         The functional currency of the Company
         entitas anak adalah mata uang lingkungan                    and its subsidiaries is the currency of the
         ekonomi utama dimana masing-masing                          primary economic environment in which
         entitas beroperasi. Mata uang tersebut                      each of them operates. It is the currency,
         adalah yang paling mempengaruhi harga                       among others, that mainly influences sales
         jual barang dan jasa, dan mata uang dari                    prices for goods and services, and of the
         negara yang kekuatan persaingan dan                         country whose competitive forces and
         peraturannya sebagian besar menentukan                      regulations mainly determine the sales
         harga jual barang dan jasa entitas, dan                     prices of its goods and services, and the
         merupakan mata uang yang mana dana dari                     currency in which funds from financing
         aktivitas pendanaan dihasilkan.                             activities are generated.

    c.   Klasifikasi Aset Keuangan dan Liabilitas               c.   Classification of Financial Assets and
         Keuangan                                                    Financial Liabilities

         Grup menentukan klasifikasi aset dan                        The Group determines the classifications of
         liabilitas tertentu sebagai aset keuangan dan               certain assets and liabilities as financial
         liabilitas keuangan dengan menilai apakah                   assets and financial liabilities by judging if
         aset dan liabilitas tersebut memenuhi                       they meet the definition set forth in PSAK
         definisi yang ditetapkan dalam PSAK                         No. 109. Accordingly, the financial assets
         No. 109. Aset keuangan dan liabilitas                       and financial liabilities are accounted for in
         keuangan         dicatat    sesuai    dengan                accordance with the Group’s material
         informasi kebijakan akuntansi material                      accounting policy information as disclosed
         Grup sebagaimana diungkapkan dalam                          in Note 2.
         Catatan 2.

    d.   Cadangan Kerugian Penurunan Nilai                      d.   Allowance for Impairment

         Grup selalu mengakui kerugian kredit                        The Group always recognizes lifetime
         ekspektasian (ECL) sepanjang umur untuk                     expected credit losses (ECL) for trade
         piutang usaha. Kerugian kredit ekspetasian                  accounts receivable. The expected credit
         atas      aset     keuangan      diestimasi                 losses on these financial assets are
         menggunakan pendekatan tingkat kerugian                     estimated using loss rate approach based
         berdasarkan pengalaman kerugian kredit                      on the Group’s historical credit loss
         historis Grup, disesuaikan dengan kondisi                   experience, adjusted for general economic
         ekonomi umum dan penilaian baik atas                        conditions and an assessment of both the
         kondisi kini maupun perkiraan masa depan                    current as well as the forecast direction of
         pada tanggal pelaporan, termasuk nilai                      conditions at the reporting date, including
         waktu atas uang jika tepat.                                 time value of money where appropriate.




                                                    - 42 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


         Untuk semua instrumen keuangan lainnya,                       For all other financial instruments, the
         Grup mengakui ECL sepanjang umur ketika                       Group recognizes lifetime ECL when there
         telah ada peningkatan risiko kredit yang                      has been a significant increase in credit risk
         signifikan sejak pengakuan awal. Jika                         since initial recognition. If, on the other
         sebaliknya, risiko kredit pada instrumen                      hand, the credit risk on the financial
         keuangan tidak meningkat secara signifikan                    instrument has not increased significantly
         sejak pengakuan awal, Grup mengukur                           since initial recognition, the Group
         penyisihan kerugian untuk instrumen                           measures the loss allowance for that
         keuangan tersebut sejumlah ECL 12 bulan.                      financial instrument at an amount equal to
         Penilaian apakah ECL sepanjang umur                           12-month ECL. The assessment of
         harus diakui didasarkan pada peningkatan                      whether lifetime ECL should be recognized
         signifikan dalam kemungkinan terjadinya                       is based on significant increases in the
         atau pada risiko gagal bayar sejak                            likelihood or risk of a default occurring
         pengakuan awal dan bukan didasarkan bukti                     since initial recognition instead of on
         aset keuangan yang mengalami kerugian                         evidence of a financial asset being credit
         kredit pada tanggal pelaporan atau kejadian                   impaired at the reporting date or an actual
         gagal bayar sebenarnya. ECL sepanjang                         default occurring. Lifetime ECL represents
         umur      merupakan      kerugian     kredit                  the expected credit losses that will result
         ekspetasian yang timbul dari seluruh                          from all possible default events over the
         kemungkinan peristiwa gagal bayar selama                      expected life of a financial instrument. In
         perkiraan umur instrumen keuangan.                            contrast, 12-month ECL represents the
         Sebaliknya, ECL 12 bulan mewakili porsi                       portion of lifetime ECL that is expected to
         ECL sepanjang umur yang timbul dari                           result from default events on a financial
         peristiwa gagal bayar pada instrumen                          instrument that are possible within 12
         keuangan yang mungkin terjadi dalam                           months after the reporting date.
         12 bulan setelah tanggal pelaporan.

         Suatu evaluasi yang bertujuan untuk                           Evaluation of financial assets to determine
         mengidentifikasi jumlah cadangan kerugian                     the allowance for expected loss to be
         ekspektasian     yang     harus    dibentuk,                  provided is performed periodically in each
         dilakukan secara berkala pada setiap                          reporting period. Therefore, the timing and
         periode pelaporan. Oleh karena itu, saat dan                  amount of allowance for expected credit
         besaran jumlah cadangan kerugian kredit                       loss recorded at each period might differ
         ekspektasian yang tercatat pada setiap                        based on the judgments and estimates that
         periode dapat berbeda tergantung pada                         are available or valid at each period.
         pertimbangan atas informasi yang tersedia
         atau berlaku pada saat itu.

         Nilai tercatat aset keuangan Grup dalam                       The carrying value of the Group’s financial
         kategori yang diukur pada biaya perolehan                     instruments categorized as financial
         diamortisasi tanggal 31 Desember 2025 dan                     assets at amortized cost as of
         2024 adalah sebagai berikut:                                  December 31, 2025 and 2024 follows:

                                                 2025                  2024

         Kas dan setara kas                3.533.269.319.671    2.525.242.591.791   Cash and cash equivalents
         Investasi jangka pendek             207.630.559.713      240.430.996.774   Short-term investments
         Piutang usaha - bersih               23.387.896.881       22.650.924.341   Trade accounts receivable - net
         Piutang lain-lain - bersih           75.343.881.472       62.944.736.163   Other accounts receivable - net

         Jumlah                            3.839.631.657.737    2.851.269.249.069   Total

    e.   Sewa                                                     e.   Lease

         Grup sebagai penyewa                                          Group as lessee

         Grup telah menandatangani sejumlah                            The Group has entered into various lease
         perjanjian sewa lahan komersial dan                           agreements for commercial spaces and
         inventaris. Grup menentukan bahwa sewa                        commercial machineries and equipment.
         tersebut memenuhi kriteria pengakuan dan                      The Group has determined that those
         pengukuran aset hak-guna dan liabilitas                       leases meet the criteria for recognition and
         sewa sesuai dengan PSAK No. 116, Sewa.                        measurement of right-of-use assets and
                                                                       lease liabilities in accordance with
                                                                       PSAK No. 116, Leases.


                                                    - 43 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


         Grup sebagai pesewa                                         Group as lessor

         Grup telah menandatangani sejumlah                          The Group has entered into various
         perjanjian sewa. Grup menentukan bahwa                      commercial lease agreements. The Group
         sewa tersebut adalah sewa operasi karena                    has determined that these are operating
         Grup menanggung secara signifikan seluruh                   leases since the Group bears substantially
         risiko dan manfaat dari kepemilikan aset-                   all the significant risks and rewards of
         aset tersebut.                                              ownership of the related assets.

    f.   Pajak Penghasilan                                      f.   Income Taxes

         Perbedaan atas interpretasi dari peraturan                  Different interpretation of complex tax
         pajak yang kompleks mengakibatkan                           regulation makes the ultimate tax
         ketidakpastian penentuan jumlah pajak                       determination becomes uncertain. Where
         penghasilan. Jika hasil pemeriksaan pajak                   the final tax outcome of these matters is
         berbeda dengan jumlah yang sebelumnya                       different from the amounts that were
         telah dibukukan, maka selisih tersebut akan                 initially recorded, such differences will have
         berdampak terhadap aset dan liabilitas pajak                an impact on the current and deferred
         kini dan tangguhan dalam periode dimana                     income tax assets and liabilities in the
         hasil pemeriksaan tersebut terjadi.                         period in which such determination is
                                                                     made.

    g.   Komponen Pembiayaan yang Signifikan                    g.   Significant Financing Component

         Grup menetapkan bahwa kontrak dengan                        The Group has determined that the
         pelanggan untuk penjualan persediaan real                   contracts with customers for sale of real
         estat memiliki komponen pembiayaan yang                     estate    inventories   have    significant
         signifikan mengingat jangka waktu antara                    financing component considering the
         pembayaran      uang    muka    penjualan                   period between the customer’s payment of
         oleh pelanggan dan saat pengalihan                          sales advances and time of the transfer of
         pengendalian atas persediaan real estat                     control over the real estate inventories is
         lebih dari satu tahun. Dalam penentuan                      more than one year. In determining the
         tingkat bunga yang diterapkan pada jumlah                   interest to be applied to the amount of
         imbalan, Grup memutuskan bahwa tingkat                      consideration, the Group concluded that
         bunga adalah tingkat bunga pinjaman                         the interest rate is the Group’s average
         rata-rata Grup.                                             borrowing rate.

    Estimasi dan Asumsi                                         Estimates and Assumptions

    Asumsi utama mengenai masa depan dan                        The key assumptions concerning the future and
    sumber utama lain dalam mengestimasi                        other key sources of estimation uncertainty at
    ketidakpastian pada tanggal pelaporan yang                  the reporting date that have a significant risk of
    mempunyai risiko signifikan yang dapat                      causing a material adjustment to the carrying
    menyebabkan penyesuaian material terhadap                   amounts of assets and liabilities within the next
    nilai tercatat aset dan liabilitas dalam periode            financial period are disclosed below. The Group
    berikutnya diungkapkan di bawah ini. Grup                   based its assumptions and estimates on
    mendasarkan asumsi dan estimasi pada                        parameters available when the consolidated
    parameter yang tersedia saat laporan keuangan               financial statements were prepared. Existing
    konsolidasian disusun. Kondisi yang ada dan                 circumstances and assumptions about future
    asumsi mengenai perkembangan masa depan                     developments may change due to market
    dapat berubah karena perubahan situasi pasar                changes on circumstances arising beyond the
    yang berada di luar kendali Grup. Perubahan                 control of the Group. Such changes are
    tersebut tercermin dalam asumsi ketika keadaan              reflected in the assumptions when they occur:
    tersebut terjadi:




                                                    - 44 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


    a.   Nilai Wajar Aset Keuangan dan Liabilitas                a.   Fair Value of Financial Assets and
         Keuangan                                                     Financial Liabilities

         Standar Akuntansi Keuangan di Indonesia                      Indonesian       Financial      Accounting
         mensyaratkan pengukuran aset keuangan                        Standards require measurement of certain
         dan liabilitas keuangan tertentu pada                        financial assets and liabilities at fair
         nilai   wajarnya,       dan   penyajian    ini               values, and the disclosure requires the
         mengharuskan         penggunaan      estimasi.               use of estimates. Significant component of
         Komponen pengukuran nilai wajar yang                         fair value measurement is determined
         signifikan ditentukan berdasarkan bukti-                     based on verifiable objective evidence (i.e.
         bukti obyektif yang dapat diverifikasi                       foreign exchange rate, interest rate), while
         (seperti nilai tukar, suku bunga), sedangkan                 timing and amount of changes in fair value
         saat dan besaran perubahan nilai wajar                       might differ due to different valuation
         dapat menjadi berbeda karena penggunaan                      method used.
         metode penilaian yang berbeda.

         Nilai wajar aset keuangan dan liabilitas                     The fair value of financial assets and
         keuangan diungkapkan pada Catatan 26.                        financial liabilities are set out in
                                                                      Note 26.

    b.   Estimasi Masa Manfaat Aset Tetap dan                    b.   Estimated Useful Lives of Property and
         Properti Investasi                                           Equipment and Investment Properties

         Masa manfaat dari masing-masing aset                         The useful life of each of the item of the
         tetap dan properti investasi Grup diestimasi                 Group’s property and equipment and
         berdasarkan jangka waktu aset tersebut                       investment properties are estimated
         diharapkan tersedia untuk digunakan.                         based on the period over which the asset
         Estimasi    tersebut    didasarkan     pada                  is expected to be available for use. Such
         penilaian kolektif berdasarkan bidang                        estimation is based on a collective
         usaha yang sama, evaluasi teknis internal                    assessment of similar business, internal
         dan pengalaman dengan aset sejenis.                          technical evaluation and experience with
         Estimasi masa manfaat setiap aset ditelaah                   similar assets. The estimated useful life of
         secara berkala dan diperbarui jika estimasi                  each asset is reviewed periodically and
         berbeda dari perkiraan sebelumnya yang                       updated if expectations differ from
         disebabkan karena pemakaian, usang                           previous estimates due to physical wear
         secara teknis atau komersial serta                           and tear, technical or commercial
         keterbatasan hak atau pembatasan lainnya                     obsolescence and legal or other limits on
         terhadap penggunaan aset. Dengan                             the use of the asset. It is possible,
         demikian, hasil operasi di masa mendatang                    however, that future results of operations
         mungkin dapat terpengaruh secara                             could be materially affected by changes in
         signifikan oleh perubahan dalam jumlah                       the amounts and timing of recorded
         dan waktu terjadinya biaya karena                            expenses brought about by changes in the
         perubahan yang disebabkan oleh faktor-                       factors mentioned above. A reduction in
         faktor yang disebutkan di atas. Penurunan                    the estimated useful life of any item of
         estimasi masa manfaat ekonomis setiap                        property and equipment and investment
         aset tetap dan properti investasi akan                       properties would increase the recorded
         menyebabkan kenaikan beban penyusutan                        depreciation and decrease the carrying
         dan penurunan nilai tercatat aset-aset                       values of these assets.
         tersebut.

         Nilai tercatat aset tetap dan properti                       The carrying values of property and
         investasi konsolidasian pada tanggal                         equipment and investment properties
         31     Desember    2025    dan   2024                        as of December 31, 2025 and 2024 are
         masing-masing diungkapkan pada Catatan                       set out in Notes 14 and 16, respectively.
         14 dan 16.




                                                     - 45 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    c.   Penurunan Nilai Goodwill                              c.   Impairment of Goodwill

         Uji penurunan nilai goodwill wajib dilakukan               Impairment testing for goodwill is required
         sedikitnya     setahun      sekali     tanpa               to be performed at least annually
         memperhatikan apakah telah terjadi                         irrespective of whether or not there are
         indikasi penurunan nilai. Penentuan nilai                  indications of impairment. Determining the
         pakai goodwill membutuhkan estimasi arus                   value in use of goodwill requires the
         kas yang diharapkan akan dihasilkan dari                   estimation of cash flows expected to be
         pemakaian berkelanjutan dan pelepasan                      generated from the continued use and
         akhir atas aset tersebut (UPK) serta tingkat               ultimate disposition of such assets (CGU)
         diskonto yang tepat untuk menghitung nilai                 and a suitable discount rate in order to
         kini.                                                      calculate the present value.

         Manajemen        berkeyakinan    bahwa                     While it is believed that the assumptions
         asumsi-asumsi yang digunakan dalam                         used in the estimation of the value in use
         estimasi nilai pakai dalam laporan                         of assets reflected in the consolidated
         keuangan konsolidasian adalah tepat dan                    financial statements are appropriate and
         wajar, namun demikian, perubahan                           reasonable, significant changes in these
         signifikan dalam asumsi-asumsi tersebut                    assumptions may materially affect the
         dapat berdampak signifikan pada jumlah                     assessment of recoverable values and
         nilai terpulihkan dan jumlah kerugian                      any resulting impairment loss could have
         penurunan nilai yang terjadi mungkin                       a material adverse impact on the results of
         berdampak material pada hasil operasi                      Group’s operations.
         Grup.

         Nilai tercatat goodwill pada tanggal                       The carrying amount of goodwill as of
         31 Desember 2025 dan 2024 diungkapkan                      December 31, 2025 and 2024 is set out in
         pada Catatan 17.                                           Note 17.

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

         Penelaahan atas penurunan nilai dilakukan                  Impairment review is performed when
         apabila terdapat indikasi penurunan nilai                  certain impairment indicators are present.
         aset tertentu. Penentuan nilai wajar aset                  Determining the fair value of assets
         membutuhkan estimasi arus kas yang                         requires the estimation of cash flows
         diharapkan akan dihasilkan dari pemakaian                  expected to be generated from the
         berkelanjutan dan pelepasan akhir atas                     continued use and ultimate disposition of
         aset tersebut. Perubahan signifikan dalam                  such assets. Any significant changes in
         asumsi-asumsi yang digunakan untuk                         the assumptions used in determining the
         menentukan nilai wajar dapat berdampak                     fair value may materially affect the
         signifikan pada jumlah terpulihkan dan                     assessment of recoverable values and
         jumlah kerugian penurunan nilai yang                       any resulting impairment loss could have
         terjadi mungkin berdampak material pada                    a material impact on results of operations.
         hasil operasi Grup.

         Nilai tercatat aset non-keuangan tersebut                  The carrying values of these non-financial
         pada tanggal 31 Desember 2025 dan 2024                     assets as of December 31, 2025 and 2024
         diungkapkan pada Catatan 12, 14, 15                        are set out in Notes 12, 14, 15, and 16.
         dan 16.




                                                   - 46 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                       PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                      For the Years Ended
31 Desember 2025 dan 2024                                                    December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                    (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                        unless Otherwise Stated)


    e.   Imbalan Kerja Jangka Panjang                         e.   Long-term Employee Benefits

         Penentuan liabilitas imbalan kerja jangka                 The determination of the long-term
         panjang dipengaruhi oleh asumsi tertentu                  employee benefits is dependent on the
         yang digunakan oleh aktuaris dalam                        selection of certain assumptions used by
         menghitung jumlah tersebut. Asumsi-                       actuary in calculating such amounts.
         asumsi     tersebut    dijelaskan    dalam                Those assumptions are described in
         Catatan 36 dan mencakup, antara lain,                     Note 36 and include, among others, rate of
         tingkat kenaikan gaji, dan tingkat diskonto               salary increase, and discount rate which is
         yang ditentukan dengan mengacu pada                       determined after giving consideration to
         imbal hasil pasar atas bunga obligasi                     interest rates of government bonds that
         pemerintah dalam mata uang yang sama                      are denominated in the currency in which
         dengan mata uang pembayaran imbalan                       the benefits are to be paid and have terms
         dan memiliki jangka waktu yang mendekati                  of maturity approximating the terms of the
         estimasi jangka waktu liabilitas imbalan                  related employee benefits liability. Actual
         kerja jangka panjang tersebut. Hasil aktual               results that differ from the Group’s
         yang berbeda dengan asumsi Grup                           assumptions          are      charged      to
         dibukukan pada penghasilan komprehensif                   comprehensive income and therefore,
         lain dan dengan demikian, berdampak pada                  generally       affect    the     recognized
         jumlah penghasilan komprehensif lain yang                 comprehensive income and recorded
         diakui dan liabilitas yang tercatat pada                  obligation in such future periods. While it
         periode-periode mendatang. Manajemen                      is believed that the Group’s assumptions
         berkeyakinan bahwa asumsi-asumsi yang                     are reasonable           and appropriate,
         digunakan adalah tepat dan wajar, namun                   significant differences in actual experience
         demikian, perbedaan signifikan pada hasil                 or significant changes in assumptions may
         aktual, atau perubahan signifikan dalam                   materially affect the amount of long-term
         asumsi-asumsi tersebut dapat berdampak                    employee benefits liability.
         signifikan pada jumlah liabilitas imbalan
         kerja jangka panjang.

         Pada tanggal 31 Desember 2025 dan 2024,                   As of December 31, 2025 and 2024, the
         liabilitas imbalan kerja jangka panjang                   amount of long-term employee benefits
         diungkapkan pada Catatan 36.                              liability is set out in Note 36.




                                                  - 47 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                  PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                 For the Years Ended
31 Desember 2025 dan 2024                                                               December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                               (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


4.   Kas dan Setara Kas                                              4.      Cash and Cash Equivalents

                                                     2025                     2024

     Kas                                           2.653.480.716            2.852.862.745     Cash on Hand

     Bank                                                                                     Cash in Banks
      Rupiah                                                                                   Rupiah
        Pihak berelasi (Catatan 42)                                                              Related party (Note 42)
          PT Bank Sinarmas Tbk                    10.405.961.119            7.569.073.256           PT Bank Sinarmas Tbk

        Pihak ketiga                                                                             Third parties
          PT Bank Central Asia Tbk (BCA)          91.254.910.393          103.052.503.009          PT Bank Central Asia Tbk (BCA)
          PT Bank Maybank Indonesia Tbk                                                            PT Bank Maybank Indonesia Tbk
             (Maybank)                            38.805.722.411           38.228.727.317             (Maybank)
          PT Bank Mandiri (Persero) Tbk (BM)      26.176.865.719           32.093.416.950          PT Bank Mandiri (Persero) Tbk (BM)
          PT Bank Negara Indonesia                                                                 PT Bank Negara Indonesia
             (Persero) Tbk                        10.255.125.765           13.984.014.928             (Persero) Tbk
          PT Bank OCBC NISP Tbk (OCBC)             9.697.080.931            8.147.760.532          PT Bank OCBC NISP Tbk (OCBC)
          PT Bank Tabungan Negara                                                                  PT Bank Tabungan Negara
             (Persero) Tbk (BTN)                   4.812.895.791            7.880.017.427             (Persero) Tbk (BTN)
          PT Bank Permata Tbk (Permata)            3.673.635.375            4.956.281.232          PT Bank Permata Tbk (Permata)
          PT Bank CIMB Niaga Tbk (CIMB)            2.404.670.139            5.911.400.150          PT Bank CIMB Niaga Tbk (CIMB)
          PT Bank Rakyat Indonesia                                                                 PT Bank Rakyat Indonesia
             (Persero) Tbk (BRI)                   1.000.592.526              734.647.631             (Persero) Tbk (BRI)
          PT Bank UOB Indonesia                      589.910.250              479.186.086          PT Bank UOB Indonesia
          PT Bank Pan Indonesia Tbk (Panin)          302.820.765            4.354.619.150          PT Bank Pan Indonesia Tbk (Panin)
          PT Bank Danamon Indonesia Tbk              152.547.496            8.772.574.696          PT Bank Danamon Indonesia Tbk
          PT Bank Pembangunan Daerah                                                               PT Bank Pembangunan Daerah
             Jawa Barat dan Banten Tbk (BJB)         149.562.355                6.242.602             Jawa Barat dan Banten Tbk (BJB)
          PT Bank DKI                                 71.647.500               71.827.500          PT Bank DKI
          PT Bank Syariah Indonesia Tbk                2.876.720                3.021.467          PT Bank Syariah Indonesia Tbk
          PT Bank Pembangunan Daerah                                                               PT Bank Pembangunan Daerah
             Jawa Tengah                               2.500.000                        -             Jawa Tengah
        Jumlah                                   189.353.364.136          228.676.240.677        Subtotal
       Sub jumlah - Rupiah                       199.759.325.255          236.245.313.933       Subtotal - Rupiah

       Dolar Amerika Serikat (Catatan 47)                                                       U.S. Dollar (Note 47)
        Pihak ketiga                                                                              Third party
           Maybank                                     4.856.670                6.634.515           Maybank
     Jumlah - Bank                               199.764.181.925          236.251.948.448       Total - Cash in banks

     Deposito Berjangka                                                                       Time Deposits
      Rupiah                                                                                    Rupiah
        Pihak ketiga                                                                             Third parties
          PT Bank Hibank Indonesia               814.300.000.000                          -        PT Bank Hibank Indonesia
          PT Bank Raya Indonesia Tbk                                                               PT Bank Raya Indonesia Tbk
             (Raya)                              641.615.000.000          380.700.000.000             (Raya)
          BRI                                    453.615.000.000          906.950.000.000          BRI
          PT Bank Mandiri Taspen                 432.700.000.000          297.700.000.000          PT Bank Mandiri Taspen
          PT Bank KB Indonesia Tbk (dahulu                                                         PT Bank KB Indonesia Tbk (formerly
             PT Bank KB Bukopin Tbk)             230.700.000.000           51.300.000.000             PT Bank KB Bukopin Tbk)
          PT Bank JTrust Indonesia Tbk           194.600.000.000          142.600.000.000          PT Bank JTrust Indonesia Tbk
          Panin                                  123.010.000.000                        -          Panin
          BTN                                    109.850.000.000           14.850.000.000          BTN
          Permata                                100.000.000.000           12.000.000.000          Permata
          PT Bank Saqu Indonesia                                                                   PT Bank Saqu Indonesia
             (dahulu PT Bank Jasa Jakarta)         51.300.000.000        31.700.000.000               (formerly PT Bank Jasa Jakarta)
          BCA                                      50.000.000.000                     -            BCA
          PT Bank Ina Perdana Tbk                  35.400.000.000         3.000.000.000            PT Bank Ina Perdana Tbk
          BJB                                      34.250.000.000       145.120.000.000            BJB
          BM                                       31.700.000.000        40.030.000.000            BM
          PT Bank Mega Tbk                         18.650.000.000        43.650.000.000            PT Bank Mega Tbk
          Maybank                                   7.000.000.000         7.000.000.000            Maybank
          OCBC                                                  -         7.500.000.000            OCBC
          CIMB                                                  -       200.000.000.000            CIMB
      Sub jumlah - Rupiah                       3.328.690.000.000     2.284.100.000.000         Subtotal - Rupiah

       Dolar Amerika Serikat (Catatan 47)                                                       U.S. Dollar (Note 47)
        Pihak ketiga                                                                              Third party
           Raya                                     2.161.657.030         2.037.780.598             Raya
     Jumlah - Deposito berjangka                3.330.851.657.030     2.286.137.780.598         Total - Time deposits

     Jumlah                                     3.533.269.319.671     2.525.242.591.791       Total

     Suku bunga per tahun deposito berjangka:                                                 Interest rates per annum of time deposits:
      Rupiah                                     3,25% - 6,95%            3,25% - 7,00%         Rupiah
      Dolar Amerika Serikat                          1,75%                    3,00%             U.S. Dollar




                                                            - 48 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


5.   Investasi Jangka Pendek                                            5.      Short-term Investments

     Merupakan rekening di bank berupa rekening                                 These consists of cash in banks in the form of
     penampungan dan deposito berjangka yang                                    escrow account and time deposits used as
     digunakan sebagai jaminan fasilitas kredit                                 collaterals for housing loan facilities with details
     kepemilikan rumah dengan rincian sebagai                                   as follows:
     berikut:

                                                       2025                      2024

     Bank - Pihak ketiga                                                                         Cash in bank - Third parties
      PT Bank Central Asia Tbk                      68.565.034.262            72.141.976.800      PT Bank Central Asia Tbk
      PT Bank Negara Indonesia                                                                    PT Bank Negara Indonesia
        (Persero) Tbk (BNI)                            275.497.395                           -      (Persero) Tbk (BNI)
          Jumlah - Deposito berjangka               68.840.531.657            72.141.976.800         Total - Time deposits

     Deposito berjangka - Pihak ketiga                                                           Time deposits - Third parties
      PT Bank CIMB Niaga Tbk                        31.830.077.787            38.287.156.688       PT Bank CIMB Niaga Tbk
      PT Bank Mandiri (Persero) Tbk                 27.369.691.454            33.703.554.142       PT Bank Mandiri (Persero) Tbk
      PT Bank Permata Tbk                           19.948.037.693            22.273.619.640       PT Bank Permata Tbk
      PT Bank Tabungan Negara (Persero) Tbk         15.529.213.287            17.546.066.743       PT Bank Tabungan Negara (Persero) Tbk
      BNI                                           11.380.224.423            13.677.589.112       BNI
      PT Bank Maybank Indonesia Tbk                 10.251.748.711            15.165.779.725       PT Bank Maybank Indonesia Tbk
      PT Bank Danamon Indonesia Tbk                  9.027.610.320            11.109.663.478       PT Bank Danamon Indonesia Tbk
      PT Bank OCBC NISP Tbk                          5.700.729.267             8.746.534.011       PT Bank OCBC NISP Tbk
      PT Bank UOB Indonesia                          3.990.441.888             4.640.861.159       PT Bank UOB Indonesia
      PT Bank Pan Indonesia Tbk                      1.857.845.204             2.180.326.866       PT Bank Pan Indonesia Tbk
      PT Bank Syariah Indonesia Tbk                  1.725.233.353               397.504.882       PT Bank Syariah Indonesia Tbk
      PT Bank Rakyat Indonesia (Persero) Tbk           153.094.669               534.283.528       PT Bank Rakyat Indonesia (Persero) Tbk
      PT Bank Pembangunan Daerah                                                                   PT Bank Pembangunan Daerah
        Jawa Barat dan Banten Tbk                       26.080.000                26.080.000        Jawa Barat dan Banten Tbk
          Jumlah - Deposito berjangka              138.790.028.056           168.289.019.974         Total - Time deposits

     Jumlah                                        207.630.559.713           240.430.996.774         Total

     Suku bunga deposito berjangka per tahun       1,50% - 4,75%         1,75% - 5,70%           Interest rate per annum on time deposits



6.   Piutang Usaha                                                      6.      Trade Accounts Receivable

     Rincian piutang usaha terdiri dari:                                        The details of trade accounts receivable follows:

     a.     Berdasarkan Jenis Transaksi                                         a.      By Nature of Transactions

                                                          2025                        2024

             Pihak berelasi (Catatan 42)                                                               Related parties (Note 42)
               Sewa                                     3.839.793.197            10.901.299.725         Rental
               Cadangan kerugian penurunan nilai          (85.628.197)             (221.137.373)        Allowance for impairment losses
               Jumlah - Bersih - pihak berelasi         3.754.165.000            10.680.162.352         Total - Net - related parties

             Pihak ketiga                                                                              Third parties
               Sewa                                    12.412.697.645                1.125.993.591       Rental
               Kamar, makanan dan minuman                                                                Room, food and beverages,
                 dan lain-lain                          6.074.075.906             6.667.936.079            and others
               Tanah dan bangunan strata title          2.817.054.294             5.728.957.217          Land and buildings with strata title
               Jumlah - pihak ketiga                   21.303.827.845            13.522.886.887          Total - third parties
               Cadangan kerugian penurunan nilai       (1.670.095.964)           (1.552.124.898)         Allowance for impairment losses
               Jumlah - Bersih - pihak ketiga          19.633.731.881            11.970.761.989          Total - Net - third parties
             Jumlah                                    23.387.896.881            22.650.924.341        Total




                                                              - 49 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                               For the Years Ended
31 Desember 2025 dan 2024                                                             December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                             (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)


    b.   Berdasarkan Umur (Hari)                                       b.     By Age

         Jumlah piutang usaha berdasarkan umur                                The aging analysis of trade accounts
         (hari) dihitung sejak tanggal faktur adalah                          receivable from the date of invoice follows:
         sebagai berikut:

                                                   2025                        2024

         Pihak berelasi (Catatan 42)                                                             Related parties (Note 42)
           Belum jatuh tempo                                    -                        -        Not past due
           Jatuh tempo                                                                            Past due
             1 s.d 30 hari                       3.794.731.440               2.972.381.821           1 - 30 days
             31 s.d 60 hari                                  -               4.284.336.132           31 - 60 days
             61 s.d 90 hari                         43.657.597                           -           61 - 90 days
             91 s.d 120 hari                         1.404.160               3.644.581.772           91 - 120 days
           Jumlah - pihak berelasi               3.839.793.197              10.901.299.725        Total - related parties
           Cadangan kerugian penurunan nilai       (85.628.197)               (221.137.373)       Allowance for impairment
           Jumlah - bersih                       3.754.165.000              10.680.162.352         Total - net

         Pihak ketiga                                                                            Third parties
           Belum jatuh tempo                     1.795.308.050               2.750.773.137         Not past due
           Jatuh tempo                                                                             Past due
             1 s.d 30 hari                      18.316.101.853               9.867.796.735           1 - 30 days
             31 s.d 60 hari                        332.608.403                 160.688.488           31 - 60 days
             61 s.d 90 hari                        343.470.061                  32.764.503           61 - 90 days
             91 s.d 120 hari                       516.339.478                 705.687.798           91 - 120 days
             > 120 hari                                      -                   5.176.226           > 120 days
           Jumlah - pihak ketiga                21.303.827.845              13.522.886.887         Total - third parties
           Cadangan kerugian penurunan nilai    (1.670.095.964)             (1.552.124.898)        Allowance for impairment
           Jumlah - bersih                      19.633.731.881              11.970.761.989         Total - net

         Jumlah                                 23.387.896.881              22.650.924.341       Total

    Perubahan dalam cadangan kerugian penurunan                        The changes in allowance for impairment of
    nilai piutang usaha adalah sebagai berikut:                        trade accounts receivable are detailed as
                                                                       follows:

                                                2025                        2024

     Saldo awal                                1.773.262.271           1.681.980.543          Beginning balance
     Penambahan (pemulihan) - bersih             (17.538.110)             91.281.728          Provisions (reversal) - net

     Saldo akhir                               1.755.724.161           1.773.262.271          Ending balance

    Grup      menerapkan      pendekatan      yang                     The Group applies the simplified approach to
    disederhanakan untuk menghitung cadangan                           provide for expected credit losses prescribed by
    kerugian ekspektasian yang disyaratkan oleh                        PSAK No. 109, which permits the use of the
    PSAK No. 109, yang memperbolehkan                                  lifetime expected loss provison for trade
    penerapan cadangan kerugian ekspektasian                           accounts receivable with significant financing
    sepanjang umurnya untuk piutang usaha dengan                       component. To measure the expected credit
    komponen pendanaan yang signifikan. Untuk                          losses, trade accounts receivables have been
    mengukur cadangan kerugian ekspektasian                            grouped based on shared credit risk
    tersebut,   piutang    usaha    dikelompokkan                      characteristics and the days past due.
    berdasarkan karakteristik risiko kredit yang
    sejenis dan pola tunggakan atau gagal bayar.




                                                       - 50 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                           For the Years Ended
31 Desember 2025 dan 2024                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


     Manajemen berpendapat bahwa cadangan                           Management believes that the allowance for
     kerugian penurunan nilai pada tanggal                          impairment as of December 31, 2025 and 2024
     31 Desember 2025 dan 2024 memadai untuk                        is adequate to cover possible losses from
     menutup kemungkinan kerugian dari tidak                        uncollectible accounts.
     tertagihnya piutang.

     Manajemen berpendapat bahwa tidak terdapat                     Management believes that there are no
     risiko terkonsentrasi secara signifikan atas                   significant concentrations of credit risk in trade
     piutang dari pihak ketiga.                                     accounts receivable from third parties.

     Pada tanggal 31 Desember 2025 dan 2024, tidak                  There are no trade accounts receivable that are
     terdapat piutang usaha yang dijadikan sebagai                  used as collateral as of December 31, 2025 and
     jaminan.                                                       2024.


7.   Piutang Lain-Lain                                         7.   Other Accounts Receivable

     Akun ini terdiri dari piutang buy-back, bunga atas             This account consists mainly of buy-back
     deposito berjangka dan jasa pemeliharaan.                      receivable, interest from time deposits and
                                                                    receivables related to maintenance services.

     Perubahan dalam cadangan kerugian penurunan                    The changes in allowance for impairment of
     nilai piutang lain-lain adalah sebagai berikut:                other accounts receivable are detailed as
                                                                    follows:

                                               2025                 2024

     Saldo awal                                 11.191.564           27.784.089    Beginning balance
     Penambahan (pemulihan) - bersih        16.825.923.112          (16.592.525)   Provisions (reversal) - net

     Saldo akhir                            16.837.114.676          11.191.564     Ending balance



     Manajemen berpendapat bahwa cadangan                           Management believes that the allowance for
     kerugian penurunan nilai pada tanggal                          impairment as of December 31, 2025 and 2024
     31 Desember 2025 dan 2024 memadai untuk                        is adequate to cover possible losses from
     menutup kemungkinan kerugian dari tidak                        uncollectible accounts.
     tertagihnya piutang.

     Piutang lain-lain disajikan dalam         laporan              Other accounts receivable are presented in the
     keuangan konsolidasian sebagai:                                consolidated statements of financial position as:

                                                  2025                     2024

     Aset lancar                               7.399.637.479          7.032.878.579       Current assets
     Aset tidak lancar                        67.944.243.993         55.911.857.584       Noncurrent assets

     Jumlah                                   75.343.881.472         62.944.736.163       Total




8.   Persediaan                                                8.   Inventories

                                               2025                  2024

     Persediaan real estat                3.762.744.542.458    3.356.923.998.633     Real estate inventories
     Persediaan dari hotel dan lainnya          839.664.999        1.244.472.909     Hotel and others inventories

     Jumlah                               3.763.584.207.457    3.358.168.471.542     Total




                                                      - 51 -
Page 306
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                 PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                For the Years Ended
31 Desember 2025 dan 2024                                                              December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                              (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                  unless Otherwise Stated)


    a.   Persediaan Real Estat                                          a.    Real Estate Inventories

                                                     2025                    2024

         Tanah dan bangunan yang siap dijual:                                               Land and buildings ready for sale:
           Aerium                                370.679.847.667        468.539.510.664       Aerium
           South Gate                            369.480.309.580        462.978.810.544       South Gate
           Grand Wisata                          136.105.917.063        105.897.361.330       Grand Wisata
           Klaska Residence                      128.079.912.293        125.464.411.455       Klaska Residence
           Mega ITC Cempaka Mas                  118.310.808.601        118.310.808.601       Mega ITC Cempaka Mas
           Mangga Dua                             93.540.699.700         93.540.699.700       Mangga Dua
           ITC Depok                              87.189.449.907         87.189.449.907       ITC Depok
           ITC Mangga Dua                         65.175.372.001         65.175.372.001       ITC Mangga Dua
           Kota Wisata                            58.873.344.429          8.488.046.618       Kota Wisata
           Superblok Ambasador Kuningan                                                       Superblok Ambasador Kuningan
             dan ITC Kuningan                      46.181.288.298        46.181.288.298         and ITC Kuningan
           Roxy Mas                                43.176.965.336        43.176.965.336       Roxy Mas
           Harco Mas                               17.886.209.342        17.886.209.342       Harco Mas
           Duta Mas Fatmawati                      14.193.543.561        14.193.543.561       Duta Mas Fatmawati
           Kota Bunga                               5.898.725.233         5.898.725.233       Kota Bunga
           Juanda                                   5.440.000.000         5.440.000.000       Juanda
           Banjar Wijaya                            3.038.065.865         5.535.229.438       Banjar Wijaya
           Graha Cempaka Mas                        2.845.392.132         2.845.392.132       Graha Cempaka Mas
           Wisma Eka Jiwa                           1.083.342.405         1.083.342.405       Wisma Eka Jiwa
           Mangga Dua Center                          199.778.090           199.778.090       Mangga Dua Center
           Legenda Wisata                             169.133.327           169.133.327       Legenda Wisata
           Jumlah                               1.567.548.104.830     1.678.194.077.982       Subtotal

         Bangunan yang sedang dikonstruksi:                                                 Buildings under construction:
          Aerium                                 169.310.824.044        169.310.824.044      Aerium
          Kota Wisata                            135.533.834.722        130.409.485.050      Kota Wisata
          Grand Wisata                           113.980.723.781         52.153.124.979      Grand Wisata
          South Gate                              99.875.470.475         97.527.274.059      South Gate
          Legenda Wisata                          18.961.697.866          6.493.713.855      Legenda Wisata
          Banjar Wijaya                           17.913.484.543         21.880.464.862      Banjar Wijaya
          Klaska Residence                        16.009.492.170         18.508.023.060      Klaska Residence
          Kota Wisata - Ecovia                     1.941.460.000                      -      Kota Wisata - Ecovia
          Jumlah                                 573.526.987.601        496.282.909.909      Subtotal

         Tanah yang sedang dikembangkan:                                                    Land under development:
           Grand Wisata                           638.101.115.661       496.874.963.341       Grand Wisata
           Kota Wisata                            486.501.102.652       558.116.240.555       Kota Wisata
           Kota Wisata - Ecovia                   362.384.351.600                     -       Kota Wisata - Ecovia
           Legenda Wisata                          37.202.609.987        31.301.669.365       Legenda Wisata
           Kota Bunga                              34.580.905.087        34.580.905.087       Kota Bunga
           Taman Permata Buana                     20.726.945.746        22.482.143.841       Taman Permata Buana
           Banjar Wijaya                           17.390.742.250        15.368.309.809       Banjar Wijaya
           South Gate                              12.796.305.082        12.796.305.082       South Gate
           Klaska Residence                         7.609.051.572         6.550.153.272       Klaska Residence
           Aerium                                   4.376.320.390         4.376.320.390       Aerium
           Jumlah                               1.621.669.450.027     1.182.447.010.742       Subtotal

         Jumlah                                 3.762.744.542.458     3.356.923.998.633     Total

         Mutasi persediaan tanah dan bangunan                           Movements of land and buildings ready for sale
         yang siap dijual adalah sebagai berikut:                       follows:

                                                      2025                   2024

         Saldo awal                             1.678.194.077.982      2.221.592.159.458    Beginning balance
         Penambahan selama tahun berjalan         663.030.512.827      1.080.337.767.923    Additions during the year
         Pengurangan selama tahun berjalan       (773.676.485.979)    (1.623.735.849.399)   Deductions during the year

         Saldo akhir                            1.567.548.104.830     1.678.194.077.982     Ending balance




                                                         - 52 -
Page 307
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


        Mutasi bangunan yang sedang dikonstruksi                            Movements of buildings under construction
        adalah sebagai berikut:                                             follows:
                                                         2025                    2024

        Saldo awal                                   496.282.909.909        744.458.627.665     Beginning balance
        Penambahan selama tahun berjalan             507.841.389.878        481.754.968.751     Additions during the year
        Pengurangan selama tahun berjalan           (430.597.312.186)      (729.930.686.507)    Deductions during the year

        Saldo akhir                                  573.526.987.601        496.282.909.909     Ending balance

        Persentase nilai tercatat bangunan yang                                   Percentage of cost of buildings under
        sedang dikonstruksi terhadap nilai kontrak                                construction to the total contract price of
        atau proyek adalah sebagai berikut:                                       the project follows:
                                                2025                                        2024
                                 Bangunan yang       % nilai terhadap        Bangunan yang       % nilai terhadap
                               sedang dikonstruksi/   nilai kontrak/       sedang dikonstruksi/   nilai kontrak/
                                 Buildings under    % to the contract        Buildings under    % to the contract
                                  construction           amount               construction           amount
                                                             %                                           %

        Aerium                    169.310.824.044            19               169.310.824.044          64           Aerium
        Kota Wisata               135.533.834.722            79               130.409.485.050          76           Kota Wisata
        Grand Wisata              113.980.723.781            53                52.153.124.979          37           Grand Wisata
        South Gate                 99.875.470.475            98                97.527.274.059          95           South Gate
        Legenda Wisata             18.961.697.866            93                 6.493.713.855          88           Legenda Wisata
        Banjar Wijaya              17.913.484.543            44                21.880.464.862          98           Banjar Wijaya
        Klaska Residence           16.009.492.170            26                18.508.023.060          98           Klaska Residence
        Kota Wisata - Ecovia        1.941.460.000           100                             -           -           Kota Wisata - Ecovia
        Jumlah                    573.526.987.601                             496.282.909.909                       Total

        Mutasi tanah yang sedang dikembangkan                                     Movement in land under development
        adalah sebagai berikut:                                                   follows:

                                                          2025                   2024

        Saldo awal                                  1.182.447.010.742     1.058.368.429.458     Beginning balance
        Penambahan selama tahun berjalan              603.977.882.308       440.012.681.120     Additions during the year
        Reklasifikasi                                  (7.766.120.968)      (13.178.276.392)    Reclassification
        Pengurangan selama tahun berjalan            (156.989.322.055)     (302.755.823.444)    Deductions during the year

        Saldo akhir                                 1.621.669.450.027     1.182.447.010.742     Ending balance

        Estimasi penyelesaian bangunan yang                                       Estimated completion of buildings under
        sedang     dikonstruksi  pada     tanggal                                 construction as of December 31, 2025
        31 Desember 2025 adalah pada tahun 2026                                   is between 2026 until 2027. While,
        sampai dengan 2027. Sedangkan, estimasi                                   estimated completion of buildings under
        penyelesaian bangunan yang sedang                                         construction as of December 31, 2024 is
        dikonstruksi pada tanggal 31 Desember                                     between 2025 until 2026. Management
        2024 adalah pada tahun 2025 sampai                                        believes that there will be no difficulties in
        dengan 2026. Manajemen berkeyakinan                                       completing the project on expected dates
        tidak terdapat hambatan dalam kelanjutan                                  of completion.
        penyelesaian proyek-proyek tersebut.

        Jumlah persediaan tanah dan bangunan                                      Total    inventories ready   for  sale
        yang    siap   dijual   yang     pengikatan                               which already have sales and purchase
        jual   belinya   telah    berlaku   namun                                 agreements      but  had    not  been
        penjualannya belum diakui pada tanggal                                    recognized as sales as of December 31,
        31    Desember        2025     dan    2024                                2025 and 2024, represent 8.79% and
        masing-masing adalah sebesar 8,79% dan                                    17.69%, respectively, of the total
        17,69% dari jumlah persediaan.                                            inventories.




                                                             - 53 -
Page 308
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                            For the Years Ended
31 Desember 2025 dan 2024                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                              unless Otherwise Stated)

          Reklasifikasi pada tahun 2025 dan 2024                             Reclassification in 2025 and 2024
          merupakan reklasifikasi dari tanah yang                            represents reclassification from land under
          sedang dikembangkan masing-masing                                  development to investment properties
          sebesar      Rp     7.766.120.968   dan                            amounting to Rp 7,766,120,968 and
          Rp 13.178.276.392 ke properti investasi                            Rp 13,178,276,392, respectively (Note 16).
          (Catatan 16).

          Grup melakukan peninjauan berkala atas                             The Group regularly reviews the carrying
          jumlah     tercatat      persediaan, untuk                         value of the real estate inventories to
          memastikan bahwa jumlah tercatatnya tidak                          ensure that the carrying amount are not in
          melebihi nilai realisasi bersih.                                   express of the net realizable values.

          Pada tanggal 31 Desember 2025 dan 2024,                            As of December 31, 2025 and 2024, all
          seluruh persediaan yang dimiliki adalah atas                       inventories are under the name of the
          nama Grup.                                                         Group.

          Persediaan real estat telah diasuransikan                          The     real    estate    inventories   are
          terhadap risiko kebakaran dan risiko                               insured      against   fire    and    other
          lainnya kepada PT Asuransi Sinar Mas,                              possible losses with PT Asuransi Sinar
          pihak berelasi (Catatan 42), dengan                                Mas, a related party (Note 42),
          jumlah        pertanggungan         sebesar                        for a sum of Rp 6,994,661,106,880 as of
          Rp 6.994.661.106.880 pada tanggal                                  December 31, 2025 and for a sum
          31    Desember      2025     dan    sebesar                        of     Rp       2,322,267,113,105      and
          Rp          2.322.267.113.105           dan                        US$ 319,203,942 as of December 31,
          US$       319.203.942     pada       tanggal                       2024. The insurance coverage includes
          31 Desember 2024. Jumlah pertanggungan                             that for investment properties (Note 16).
          merupakan        jumlah      pertanggungan                         Management believes that the insurance
          gabungan      dengan    asuransi    properti                       coverages are adequate to cover possible
          investasi   (Catatan    16).    Manajemen                          losses on the assets insured.
          berkeyakinan bahwa nilai pertanggungan
          tersebut cukup untuk menutup kemungkinan
          kerugian      atas     persediaan      yang
          dipertanggungkan.

     b.   Persediaan dari Hotel dan Lainnya                            b.    Hotel and Other Inventories

                                                  2025                      2024

          Makanan dan minuman                     637.865.404               571.950.382     Food and beverages
          Perlengkapan                            174.517.368               335.011.709     Supplies
          Lain-lain                                27.282.227               337.510.818     Others
          Jumlah                                  839.664.999            1.244.472.909      Total

          Manajemen berkeyakinan bahwa nilai                                 Management       believes    that   the
          tercatat persediaan hotel dan lainnya                              carrying amounts of the hotel and
          tersebut tidak melampaui nilai realisasi                           other inventories are not in express of
          bersihnya pada tanggal 31 Desember 2025                            the net realizable values as of
          dan 2024.                                                          December 31, 2025 and 2024.


9.   Uang Muka                                                  9.     Advances

                                                2025                     2024
     Pembelian tanah                        244.500.176.000          106.282.593.000      Land acquisition
     Perijinan                               12.676.735.196            3.884.657.321      Permit
     Promosi                                 11.609.182.533           35.215.337.904      Promotion
     Lain-lain                               53.496.942.027            5.985.083.094      Others

     Jumlah                                 322.283.035.756          151.367.671.319      Total




                                                       - 54 -
Page 309
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


10.   Pajak Dibayar Dimuka                                    10.     Prepaid Taxes

                                             2025                      2024

      Pajak penghasilan                                                                Income taxes
       Pasal 4 ayat 2                                                                    Article 4 paragraph 2
          (6% dan 10%) (Catatan 40)       28.813.842.598            28.453.837.824         (6% and 10%) (Note 40)
       Pasal 4 ayat 2                                                                    Article 4 paragraph 2
          (2,5%) (Catatan 40)             36.729.616.529         38.642.367.289            (2.5%) (Note 40)
       Pasal 21                               84.590.825             22.111.650          Article 21
       Pasal 22 (Catatan 40)                 135.496.846            135.496.846          Article 22 (Note 40)
       Pasal 23 (Catatan 40)               3.767.248.773          3.218.290.751          Article 23 (Note 40)
       Pasal 25 (Catatan 40)               1.885.933.167          1.349.220.550          Article 25 (Note 40)
      Pajak Pertambahan Nilai - bersih   232.027.484.627        239.873.203.601        Value Added Tax - net

      Jumlah                             303.444.213.365        311.694.528.511        Total




11.   Biaya Dibayar Dimuka                                    11.     Prepaid Expenses

                                              2025                      2024

      Beban untuk mendapatkan kontrak                                                  Costs to obtain contracts with
        dengan pelanggan                   34.920.308.883            28.378.819.739      customers
      Asuransi                                     93.749                    93.749    Insurance
      Lain-lain                             4.569.683.539             4.336.664.773    Others

      Jumlah                               39.490.086.171            32.715.578.261    Total


      Beban dari kontrak dengan pelanggan                             Costs to obtain contracts with customers
      merupakan biaya komisi penjualan. Beban                         represent sales commission. Such costs are
      tersebut diamortisasi dengan cara sistematis                    amortized on a systematic basis that is
      sejalan dengan penyerahan unit real estat                       consistent with the transfer of the real estate
      kepada pelanggan. Amortisasi dari biaya yang                    unit to the customers. The amortization
      terjadi untuk mendapatkan kontrak dicatat                       recognized from cost to obtain contracts was
      sebagai    bagian    dari beban     penjualan                   recorded as a part of selling expenses
      (Catatan 35).                                                   (Note 35).

      Mutasi dari beban untuk mendapatkan kontrak                     The movement of costs to obtain contracts with
      dengan pelanggan adalah sebagai berikut:                        customers is as follows:

                                             2025                      2024

      Saldo awal                           28.378.819.739            42.198.296.179    Beginning balance
      Penambahan tahun berjalan            57.937.151.120            62.259.749.524    Additions during the year
      Amortisasi sebagai beban            (51.395.660.976)          (76.079.225.964)   Amortized as expense

      Saldo akhir                         34.920.309.883            28.378.819.739     Ending balance


      Biaya dibayar dimuka disajikan dalam laporan                    Prepaid    expenses     are     presented      in
      posisi keuangan konsolidasian sebagai:                          consolidated statements of financial position as:

                                              2025                      2024

      Aset lancar                         32.128.808.716             24.726.987.812    Current assets
      Aset tidak lancar                    7.361.277.455              7.988.590.449    Noncurrent assets

      Jumlah                              39.490.086.171             32.715.578.261    Total




                                                     - 55 -
Page 310
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                       PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                   Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                      For the Years Ended
31 Desember 2025 dan 2024                                                                                                    December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                    (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                        unless Otherwise Stated)


12.   Investasi dalam Saham                                                                             12.       Investments in Shares

                                                                                2025                                2024

      Asosiasi                                                       560.542.106.691                          584.727.817.790               Associates
      Ventura bersama                                                 23.281.619.125                           22.647.710.550               Joint ventures

      Jumlah                                                         583.823.725.816                          607.375.528.340               Total

      Rincian entitas asosiasi dan ventura bersama                                                                Details of Group’s associates and joint ventures
      dari Grup pada tanggal 31 Desember 2025 dan                                                                 as of December 31, 2025 and 2024 follows:
      2024 adalah sebagai berikut:

                                                                                                                        Kepemilikan dan
                                                                          Lokasi Usaha/                                   Hak Suara/
                                                                         Negara Domisili/                               Ownership and
                          Nama Entitas/                                 Place of Business/                               Voting Rights                                Aktivitas Utama/
                          Name of Entity                              Country of Incorporation                                 %                                      Principal Activity

      Asosiasi/Associates
         PT Matra Olahcipta                                                       Indonesia                                     50,00                   Pusat perbelanjaan/Shopping center
         PT Citraagung Tirta Jatim                                                Indonesia                                     40,00                   Pusat perbelanjaan/Shopping center
         PT Sahabat Kota Wisata                                                   Indonesia                                     40,00                   Pusat perbelanjaan/Shopping center
         PT Sahabat Duta Wisata                                                   Indonesia                                     40,00                   Pusat perbelanjaan/Shopping center
         PT Binamaju Mitra Sejati                                                 Indonesia                                     25,50                   Perumahan/Real estate
         PT Keikyu Itomas Indonesia                                               Indonesia                                     10,00                   Perumahan/Real estate
         PT Bumi Paramudita Mas                                                   Indonesia                                     0,01                    Belum beroperasi komersial/No
                                                                                                                                                         commercial operation

      Ventura Bersama/Joint Ventures
         BKS Pasar Pagi - ITC Mangga Dua                                          Indonesia                                     40,00                   Pusat perbelanjaan/Shopping center
         PT Duti Diamond Development                                              Indonesia                                     30,00                   Perumahan/Real estate


      a.   Entitas Asosiasi                                                                                        a.      Associates

           Investasi dalam entitas asosiasi adalah                                                                         The details of investments in associates
           sebagai berikut:                                                                                                follows:
                                                                                                                    Perubahan selama Tahun 2025/
                                                                                                                        Changes during 2025
                                                                   Nilai                                                                                                                    Nilai
                                                               Penyertaan                                                                                       Ekuitas pada            Penyertaan
                                                              Awal Tahun/                                                               Ekuitas pada                Rugi               Akhir Tahun/
                                            Persentase      Carrying Value of          Pembagian          Penambahan (Pengurangan)      Laba (Rugi)          Komprehensif Lain/      Carrying Value of
                                           Kepemilikan/    Investments at the          Keuntungan/               Penyertaan/               Bersih/             Share in Other       Investments at the
                    Nama Entitas/          Percentage of       Beginning                  Profit             Addition (Deduction)       Share in Net          Comprehensive             End of the
                  Name of Companies         Ownership          of the Year             Distribution            on Investments           Profit (Loss)              Loss                    Year
                                                %

           PT Matra Olahcipta                  50,00          59.281.775.952                         -                          -         (1.258.555.991)           (130.734.643)       57.892.485.318
           PT Citraagung Tirta Jatim           40,00           6.965.837.250                         -                          -          1.133.382.277            (130.380.946)        7.968.838.581
           PT Sahabat Kota Wisata              40,00         231.361.218.436                         -                          -        (10.178.487.607)             (9.814.994)      221.172.915.835
           PT Sahabat Duta Wisata              40,00         160.525.932.869                         -             40.000.000.000        (23.081.964.000)             (6.502.793)      177.437.466.076
           PT Binamaju Mitra Sejati            25,50          66.142.467.793           (20.400.000.000)                         -         33.383.634.563             (68.768.540)       79.057.333.816
           PT Keikyu Itomas Indonesia          10,00          60.450.584.789                         -            (44.046.504.000)           608.985.569                       -        17.013.066.358
           PT Bumi Paramudita Mas               0,01                     701                         -                          -                      6                       -                   707
           Jumlah/Total                                      584.727.817.790           (20.400.000.000)            (4.046.504.000)           606.994.817            (346.201.916)      560.542.106.691



                                                                                                                     Perubahan selama Tahun 2024/
                                                                                                                         Changes during 2024
                                                                   Nilai                                                                                                                     Nilai
                                                               Penyertaan                                                                                       Ekuitas pada             Penyertaan
                                                              Awal Tahun/                                                               Ekuitas pada            Penghasilan             Akhir Tahun/
                                            Persentase      Carrying Value of            Pembagian               Penambahan             Laba (Rugi)          Komprehensif Lain/       Carrying Value of
                                           Kepemilikan/    Investments at the            Keuntungan/             Penyertaan/               Bersih/             Share in Other        Investments at the
                    Nama Entitas/          Percentage of       Beginning                    Profit                Addition on           Share in Net          Comprehensive              End of the
                  Name of Companies         Ownership          of the Year               Distribution            Investments            Profit (Loss)             Income                    Year
                                                %

           PT Matra Olahcipta                  50,00            62.360.913.152                          -                        -         (3.115.390.789)            36.253.589         59.281.775.952
           PT Citraagung Tirta Jatim           40,00             5.721.466.891                          -                        -          1.232.526.746             11.843.613          6.965.837.250
           PT Sahabat Kota Wisata              40,00           243.319.993.907                          -                        -        (11.958.775.471)                     -        231.361.218.436
           PT Sahabat Duta Wisata              40,00           164.264.946.887                          -                        -         (3.739.014.018)                     -        160.525.932.869
           PT Binamaju Mitra Sejati            25,50            33.211.006.476            (10.200.000.000)                       -         43.119.314.750             12.146.567         66.142.467.793
           PT Keikyu Itomas Indonesia          10,00            57.787.481.664                          -                        -          2.663.103.125                      -         60.450.584.789
           PT Bumi Paramudita Mas               0,01                       711                          -                        -                    (10)                     -                    701

           Jumlah/Total                                        566.665.809.688            (10.200.000.000)                       -        28.201.764.333              60.243.769        584.727.817.790




                                                                                        - 56 -
Page 311
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                       PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                      For the Years Ended
31 Desember 2025 dan 2024                                                    December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                    (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                        unless Otherwise Stated)


        PT Sahabat Duta Wisata (SDW)                               PT Sahabat Duta Wisata (SDW)

        Berdasarkan Pernyataan Keputusan Para                      Based      on     Stockholders’   Decision
        Pemegang        Saham      SDW        yang                 Statement      of    SDW     which     was
        didokumentasikan dalam Akta No. 43                         documented on Notarial Deed No. 43
        tanggal 19 Desember 2025 dari Ira Sudjono,                 dated December 19, 2025 of Ira Sudjono,
        S.H., M.Hum., M.Kn., M.M., M.Si., notaris di               S.H., M.Hum., M.Kn., M.M., M.Si., a public
        Jakarta, para pemegang saham menyetujui                    notary in Jakarta, the stockholders agreed
        untuk meningkatkan modal ditempatkan                       to increase its issued and paid-up capital
        dan disetor dari Rp 680.200.000.000 terdiri                from Rp 680,200,000,000 consisting of
        dari      680.200      saham       menjadi                 680,200 shares to Rp 780,200,000,000
        Rp 780.200.000.000 terdiri dari 780.200                    consisting of 780,200 shares. The
        saham. Kenaikan tersebut dilakukan secara                  increase in paid-up capital was done
        proporsional      sehingga      komposisi                  proportionately, thus, no change in
        persentase kepemilikan saham sebelum                       ownership interest of the stockholders.
        dan sesudah kenaikan modal tidak
        berubah.

        PT Keikyu Itomas Indonesia (KII)                           PT Keikyu Itomas Indonesia (KII)

        Berdasarkan Keputusan Sirkuler Para                        Based on Stockholders’ Circular Decision
        Pemegang           Saham       KII     yang                Statement of KII which was documented
        didokumentasikan dalam Akta No. 3 tanggal                  on Notarial Deed No. 3 dated February 3,
        3 Februari 2025 dari Hannywati Susilo,                     2025 of Hannywati Susilo, S.H., M.Kn.,
        S.H., M.Kn., notaris di Tangerang Selatan,                 notary in South Tangerang, the
        para pemegang saham menyetujui untuk                       stockholders    agreed      to   decrease
        menurunkan modal ditempatkan dan disetor                   issued and paid-up capital from
        dari Rp 610.446.869.000 terdiri dari 17.000                Rp 610,446,869,000 consisting of 17,000
        saham Seri A dan 72.717 saham                              Series A shares and 72,717 Series B
        Seri B menjadi Rp 170.000.000.000                          shares to Rp 170,000,000,000 consisting
        terdiri dari 17.000 saham Seri A. Penurunan                of 17,000 Series A shares. The decrease
        ini dilakukan secara proporsional sehingga                 in    paid-up    capital      was    done
        komposisi persentase kepemilikan saham                     proportionately, thus, no change in
        sebelum dan sesudah penurunan modal                        ownership interest of the stockholders.
        tidak berubah.

        PT Binamaju Mitra Sejati (BMS)                             PT Binamaju Mitra Sejati (BMS)

        Pada tahun 2025 dan 2024, BMS                              In 2025 and 2024, BMS agreed to
        membagikan     dividen  tunai    kepada                    distribute cash dividends to stockholders
        pemegang saham masing-masing sebesar                       amounting to Rp 80,000,000,000 or
        Rp 80.000.000.000 atau setara dengan                       equivalent to Rp 40,000 per share and
        Rp 40.000 per lembar saham dan                             Rp 40,000,000,000, respectively or
        Rp 40.000.000.000 atau setara dengan                       equivalent to Rp 20,000 per share.
        Rp 20.000 per lembar saham. Bagian                         The share of the PT Sinarwisata Permai,
        PT Sinarwisata Permai, entitas anak,                       a subsidiary, on these cash dividends
        atas pembagian dividen tunai adalah                        amounted to Rp 20,400,000,000 and
        masing-masing sebesar Rp 20.400.000.000                    Rp 10,200,000,000, respectively.
        dan Rp 10.200.000.000.

        Grup tidak memiliki bagian atas liabilitas                 The Group has no share of any contingent
        kontinjensi atau komitmen permodalan                       liabilities or capital commitments of the
        dari entitas asosiasi pada tanggal                         associates as of December 31, 2025 and
        31 Desember 2025 dan 2024.                                 2024.




                                                  - 57 -
Page 312
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                      unless Otherwise Stated)


         Ikhtisar   informasi  keuangan     entitas                                                       The following summarizes the financial
         asosiasi, tanpa disesuaikan dengan                                                               information relating to material associates,
         proporsi kepemilikan Grup, adalah sebagai                                                        not adjusted for proportion of ownership:
         berikut:
                                                                                                      2025
                                          PT Matra         PT Citraagung      PT Sahabat            PT Sahabat          PT Binamaju          PT Keikyu         PT Bumi
                                          Olahcipta         Tirta Jatim       Kota Wisata           Duta Wisata          Mitra Sejati    Itomas Indonesia   Paramudita Mas

         Aset/Assets
           Lancar/Current              136.106.923.856     41.013.675.642     155.214.745.307       120.889.067.940    295.172.759.495   192.631.151.545      4.592.174.170
           Tidak lancar/Noncurrent         189.754.860    100.245.253.293   1.810.845.837.794     1.405.933.888.528     60.125.206.671                 -    114.219.698.226

         Jumlah/Total                  136.296.678.716    141.258.928.935   1.966.060.583.101     1.526.822.956.468    355.297.966.166   192.631.151.545    118.811.872.396

         Liabilitas/Liabilities
           Jangka pendek/Current        14.669.208.691     33.252.900.304    204.886.096.161       124.823.989.173      67.836.920.894    20.007.551.966         31.677.608
           Jangka panjang/Noncurrent     6.659.852.188     88.083.932.177    957.597.613.248       688.475.038.984       6.094.256.065     2.475.806.412                  -

         Jumlah/Total                   21.329.060.879    121.336.832.481   1.162.483.709.409      813.299.028.157      73.931.176.959    22.483.358.378         31.677.608

         Pendapatan/Revenue              4.775.821.948     69.903.624.098    234.402.662.316        88.142.271.890     255.762.072.267                 -                  -
         Beban/Expenses                  3.694.411.905     67.524.236.374    195.564.627.432       116.965.199.240     132.680.695.430     2.550.439.145        392.078.953
         Laba (rugi) bersih/
           Net profit (loss)            (2.517.111.982)     2.833.455.696     (25.446.219.018)      (57.704.910.000)   130.916.213.971     6.089.704.757    263.902.142.691



                                                                                                      2024
                                          PT Matra        PT Citraagung       PT Sahabat            PT Sahabat          PT Binamaju          PT Keikyu         PT Bumi
                                          Olahcipta        Tirta Jatim        Kota Wisata           Duta Wisata          Mitra Sejati    Itomas Indonesia   Paramudita Mas

         Aset/Assets
           Lancar/Current              139.355.048.503     43.201.297.363     216.900.367.450        98.029.070.096    291.697.132.066   625.662.205.276         28.731.106
           Tidak lancar/Noncurrent         269.915.087    116.835.565.543   1.623.239.888.586     1.164.599.283.485     59.185.014.307                 -    732.669.578.935

         Jumlah/Total                  139.624.963.590    160.036.862.906   1.840.140.256.036     1.262.628.353.581    350.882.146.373   625.662.205.276    732.698.310.041

         Liabilitas/Liabilities
           Jangka pendek/Current        13.423.450.682     32.754.211.745    174.252.334.413        46.606.928.744     116.321.998.677    19.438.068.295         20.750.340
           Jangka panjang/Noncurrent     8.455.313.804    109.868.058.038    836.840.291.428       544.776.329.546       4.111.144.075     1.719.179.571                  -

         Jumlah/Total                   21.878.764.486    142.622.269.783   1.011.092.625.841      591.383.258.290     120.433.142.752    21.157.247.866         20.750.340

         Pendapatan/Revenue              4.802.572.236     65.354.083.600    119.938.383.348                       -   311.551.226.583     8.386.377.037                 -
         Beban/Expenses                  2.309.166.177     64.655.085.520    118.315.896.159           9.292.928.863   135.557.120.318     8.652.695.622       379.124.251
         Laba (rugi) bersih/
           Net profit (loss)            (6.230.781.577)     3.081.316.864     (29.896.938.677)       (9.347.535.045)   169.095.351.960    26.630.140.775    (10.642.340.896)




    b.   Ventura Bersama                                                                          b.      Joint Ventures

         Perubahan dalam kepentingan pada                                                                 Movement of interests in the joint ventures
         ventura bersama, adalah sebagai berikut:                                                         is summarized as follows:

                                                                    2025                            2024

         Saldo awal                                            22.647.710.550                    23.231.959.431             Beginning balance
         Ekuitas pada laba (rugi) bersih                                                                                    Share in net profit (loss)
           tahun berjalan                                           633.908.575                    (584.248.881)             during the year

         Saldo akhir                                            23.281.619.125                   22.647.710.550             Ending balance

         Grup tidak memiliki bagian atas liabilitas                                                       The Group has no share of any contingent
         kontinjensi atau komitmen permodalan                                                             liabilities or capital commitments of joint
         dari ventura bersama pada tanggal                                                                ventures as of December 31, 2025 and
         31 Desember 2025 dan 2024.                                                                       2024.




                                                                            - 58 -
Page 313
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                          For the Years Ended
31 Desember 2025 dan 2024                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                            unless Otherwise Stated)


        Ikhtisar informasi keuangan ventura                             The following summarizes the financial
        bersama, tanpa disesuaikan dengan                               information relating to the joint venture,
        proporsi kepemilikan Grup, adalah sebagai                       not adjusted for proportion of ownership:
        berikut:

                                               2025                  2024

        Aset                                                                        Assets
                                                                                     Current - Cash and cash
          Lancar - kas dan setara kas        5.567.691.451         6.555.798.935       equivalents
          Lancar (tidak termasuk kas                                                 Current (excluding cash and cash
            dan setara kas)                290.176.794.296       290.691.550.371       equivalents)
          Tidak lancar                      13.350.661.526        15.586.913.397     Noncurrent
        Jumlah                             309.095.147.273       312.834.262.703    Total

        Liabilitas                                                                  Liabilities
          Jangka pendek (tidak termasuk                                               Current (excluding trade and
            utang usaha, utang lain-lain                                                other accounts payable
            dan provisi)                        74.071.433            80.365.519        and provision)
          Jangka panjang (tidak termasuk                                              Noncurrent (excluding trade and
            utang usaha, utang lain-lain                                                other accounts payable and
            dan provisi)                     6.294.915.230        11.413.610.986        provision)
        Jumlah                               6.368.986.663        11.493.976.505    Total
        Jumlah ekuitas                     302.726.160.610       301.340.286.198    Total equity

        Pendapatan                           5.147.765.593         5.317.124.080    Revenues
        Penyusutan dan amortisasi            2.256.851.871         2.512.656.251    Depreciation and amortization
        Pendapatan bunga                       220.885.842           262.970.251    Interest income
        Laba (rugi) sebelum pajak            1.385.874.411        (2.493.236.741)   Profit (loss) before tax
        Beban pajak                                      -                     -    Tax expense
        Laba (rugi) tahun berjalan           1.385.874.411        (2.493.236.741)   Profit (loss) for the year
        Rugi komprehensif lain                           -                     -    Other comprehensive loss
        Jumlah penghasilan (rugi)
          komprehensif                       1.385.874.411        (2.493.236.741)   Total comprehensive income (loss)


    Grup tidak membentuk cadangan kerugian                        The Group did not provide allowance for
    penurunan nilai atas investasi dalam saham                    impairment in value of the aforementioned
    pada entitas-entitas di atas, karena manajemen                investments in these companies since
    berkeyakinan bahwa entitas-entitas tersebut                   management believes that these companies still
    masih memiliki potensi pertumbuhan dalam                      have long-term growth potentials as most of
    jangka panjang mengingat sebagian besar                       these companies engage in the real estate
    entitas-entitas tersebut bergerak dalam jenis                 business.
    usaha real estat.




                                                      - 59 -
Page 314
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


13.   Tanah yang Belum Dikembangkan                                     13.    Land for Development

      Terdiri dari:                                                            This account consists of:

                                                                          2025                                       2024
      Nama Proyek/             Lokasi/                   Luas Tanah/              Jumlah/            Luas Tanah/               Jumlah/
      Name of Project          Location                   Land Area               Amount              Land Area                Amount
                                                           m2/sqm                                      m2/sqm

      Roxy II                Roxy, Jakarta Pusat             177.264          1.792.806.777.321          177.088      1.584.374.846.541
      Surabaya*              Benowo, Surabaya              4.352.470          1.442.728.623.361        4.352.954      1.441.275.797.136
      Grand Wisata           Bekasi                        4.637.133            781.316.404.510        4.820.092        759.491.596.582
      Kota Wisata            Cibubur, Jawa Barat             489.110            412.648.294.828        1.594.074        713.341.889.408
      Kota Wisata - Ecovia   Cibubur, Jawa Barat           1.400.562            234.240.461.352                -                      -
      Bekasi *               Bekasi                          850.306            120.931.867.153          850.306        120.931.867.153
      Mangga Dua Center      Jagirwonokromo, Surabaya         24.186             17.136.807.556           24.186         17.006.207.556
      Kota Bunga             Desa Sukanagalih dan/and
                             Desa Batulawang                   64.715            8.027.054.168            64.715            8.027.054.168

      Jumlah/Total                                        11.995.746          4.809.836.290.249       11.883.415      4.644.449.258.544

      * proyek entitas anak yang masih dalam tahap pra-operasi (Catatan 1c)/
        projects of subsidiaries in pre-operating stage (Note 1c)

      Mutasi pada akun tanah yang                       belum                  Movements in land for development account
      dikembangkan adalah sebagai berikut:                                     follows:

                                                        2025                     2024

      Saldo awal                                4.644.449.258.544        4.557.125.002.664        Beginning balance
      Penambahan selama tahun berjalan            460.741.205.158          185.795.651.808        Additions during the year
      Pengurangan selama tahun berjalan          (295.354.173.453)         (98.471.395.928)       Deductions during the year

      Saldo akhir                               4.809.836.290.249        4.644.449.258.544        Ending balance


      Pada tanggal 31 Desember 2025 dan 2024,                                  As of December 31, 2025 and 2024, all of the
      seluruh tanah yang belum dikembangkan adalah                             land for development are under the name of the
      atas nama Grup.                                                          Group.

      Manajemen berkeyakinan bahwa tidak terdapat                              Management believes that there is no
      penurunan nilai atas aset tersebut pada tanggal                          impairment in value of the aforementioned
      31 Desember 2025 dan 2024.                                               assets as of December 31, 2025 and 2024.




                                                               - 60 -
Page 315
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                 PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                             Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                For the Years Ended
31 Desember 2025 dan 2024                                                                              December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                              (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                  unless Otherwise Stated)


14.   Aset Tetap                                                                  14.      Property and Equipment

                                                                  Perubahan selama Tahun 2025/
                                                                       Changes during 2025
                                       1 Januari 2025/         Penambahan/           Pengurangan/          31 Desember 2025/
                                       January 1, 2025           Additions             Deductions          December 31, 2025

      Biaya perolehan:                                                                                                            At cost:
      Kepemilikan langsung                                                                                                        Direct acquisitions
        Tanah                            43.458.404.729                      -                       -         43.458.404.729        Land
        Bangunan                        473.356.598.791                      -                       -        473.356.598.791        Buildings
        Sarana pelengkap bangunan         7.701.625.703                      -                       -          7.701.625.703        Building improvements
        Perbaikan aset yang disewa        1.538.943.105                      -                       -          1.538.943.105        Leasehold improvements
        Mesin-mesin                      99.457.340.567                      -                       -         99.457.340.567        Machinery
        Inventaris                      237.002.363.756          3.030.576.584                       -        240.032.940.340        Furniture and fixtures
        Kendaraan                        50.002.536.764          4.971.509.399          (2.962.786.320)        52.011.259.843        Transportation equipment
      Jumlah                            912.517.813.415          8.002.085.983          (2.962.786.320)       917.557.113.078     Subtotal
      Aset tetap dalam pembangunan           94.994.167             59.675.000             (94.994.167)             59.675.000    Construction in progress
      Jumlah                            912.612.807.582          8.061.760.983          (3.057.780.487)       917.616.788.078     Total

      Akumulasi penyusutan:                                                                                                       Accumulated depreciation:
      Kepemilikan langsung                                                                                                        Direct acquisitions
        Bangunan                        336.843.729.139         12.168.969.445                       -        349.012.698.584       Buildings
        Sarana pelengkap bangunan         5.455.417.854            318.378.897                       -          5.773.796.751       Building improvements
        Perbaikan aset yang disewa        1.538.943.105                      -                       -          1.538.943.105       Leasehold improvements
        Mesin-mesin                      98.496.714.629            213.581.081                       -         98.710.295.710       Machinery
        Inventaris                      221.971.911.731          6.332.256.209                       -        228.304.167.940       Furniture and fixtures
        Kendaraan                        28.072.506.233          3.755.012.351          (2.962.786.320)        28.864.732.264       Transportation equipment
      Jumlah                            692.379.222.691         22.788.197.983          (2.962.786.320)       712.204.634.354     Subtotal
      Nilai Tercatat                    220.233.584.891                                                       205.412.153.724     Net Carrying Value




                                                                      Perubahan selama Tahun 2024/
                                                                          Changes during 2024
                                     1 Januari 2024/      Penambahan/        Pengurangan/      Reklasifikasi/     31 Desember 2024/
                                     January 1, 2024        Additions         Deductions      Reclassifications   December 31, 2024

      Biaya perolehan:                                                                                                                    At cost:
      Kepemilikan langsung                                                                                                                Direct acquisitions
        Tanah                         43.458.404.729                   -                  -                  -       43.458.404.729          Land
        Bangunan                     473.356.598.791                   -                  -                  -      473.356.598.791          Buildings
        Sarana pelengkap bangunan      7.628.863.303          72.762.400                  -                  -        7.701.625.703          Building improvements
        Perbaikan aset yang disewa     1.538.943.105                   -                  -                  -        1.538.943.105          Leasehold improvements
        Mesin-mesin                   99.457.340.567                   -                  -                  -       99.457.340.567          Machinery
        Inventaris                   233.516.405.836       7.111.124.907     (3.625.166.987)                 -      237.002.363.756          Furniture and fixtures
        Kendaraan                     43.522.572.639       7.990.065.825     (1.510.101.700)                 -       50.002.536.764          Transportation equipment
      Jumlah                         902.479.128.970      15.173.953.132     (5.135.268.687)                 -      912.517.813.415       Subtotal
      Aset tetap dalam pembangunan        94.994.167                   -                  -                  -            94.994.167      Construction in progress
      Jumlah                         902.574.123.137      15.173.953.132     (5.135.268.687)                 -      912.612.807.582       Total

      Akumulasi penyusutan:                                                                                                               Accumulated depreciation:
      Kepemilikan langsung                                                                                                                Direct acquisitions
        Bangunan                     324.645.686.971      12.211.796.890                  -       (13.754.722)      336.843.729.139          Buildings
        Sarana pelengkap bangunan      5.098.838.333         342.824.799                  -        13.754.722         5.455.417.854          Building improvements
        Perbaikan aset yang disewa     1.538.943.105                   -                  -                 -         1.538.943.105          Leasehold improvements
        Mesin-mesin                   98.279.153.557         217.561.072                  -                 -        98.496.714.629          Machinery
        Inventaris                   219.383.450.669       6.213.628.049     (3.625.166.987)                -       221.971.911.731          Furniture and fixtures
        Kendaraan                     26.802.254.256       2.780.353.677     (1.510.101.700)                -        28.072.506.233          Transportation equipment
      Jumlah                         675.748.326.891      21.766.164.487     (5.135.268.687)                 -      692.379.222.691       Subtotal
      Nilai Tercatat                 226.825.796.246                                                                220.233.584.891       Net Carrying Value


      Pembebanan             penyusutan       adalah         sebagai                       Depreciation expense are allocated as follows:
      berikut:

                                                               2025                            2024

      Beban pokok penjualan (Catatan 34)                    4.670.402.868                 4.674.442.857           Cost of revenues (Note 34)
      Beban umum dan administrasi                                                                                 General and administrative expenses
        (Catatan 35b)                                      16.717.236.038               15.215.712.159              (Note 35b)
      Lain-lain - Bersih (Catatan 39)                       1.400.559.077                1.876.009.471            Others - Net (Note 39)

      Jumlah                                               22.788.197.983               21.766.164.487            Total




                                                                       - 61 -
Page 316
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                        For the Years Ended
31 Desember 2025 dan 2024                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                          unless Otherwise Stated)


    Pengurangan pada tahun 2025 dan 2024                         Deduction in 2025 and 2024 pertain to sale of
    berkaitan dengan penjualan kendaraan dan                     vehicles and furniture and fixtures that have
    inventaris yang sepenuhnya telah disusutkan                  been fully depreciated and the gain on sale was
    dan keuntungan atas penjualan dicatat pada                   recognized in “Gain on sale of property and
    akun “Keuntungan penjualan aset tetap”                       equipment” in profit or loss amounting
    pada laba rugi masing-masing sebesar                         Rp 910,919,371 and Rp 570,051,826,
    Rp 910.919.371 dan Rp 570.051.826.                           respectively.

    Pengurangan aset tetap dalam pembangunan                     The decrease in construction in progress in
    pada tahun 2025 sebesar Rp 94.994.167                        2025 amounting to Rp 94,994,167 represents
    merupakan biaya renovasi bangunan yang tidak                 building renovation costs that were not
    diselesaikan sehingga dibebankan pada laba                   completed, thus was recognized as an expense
    rugi.                                                        in profit or loss.

    Grup memiliki beberapa bidang tanah terletak di              The Group own several parcels of land located
    Balikpapan dan Jakarta dengan rincian sebagai                in Balikpapan and Jakarta with details follows:
    berikut:

                                                2025 dan/and 2024

     Hotel Le Grandeur Balikpapan, Balikpapan         31.705.471.994   Hotel Le Grandeur Balikpapan, Balikpapan
     Hotel Le Grandeur Mangga Dua, Jakarta            11.513.862.855   Hotel Le Grandeur Mangga Dua, Jakarta
     Taman Permata Buana, Jakarta                        239.069.880   Taman Permata Buana, Jakarta

     Jumlah                                           43.458.404.729   Total

    Kepemilikan Grup atas tanah Hotel Le Grandeur                The parcels of land, where Le Grandeur
    Mangga Dua, Hotel Le Grandeur Balikpapan dan                 Mangga Dua Hotel, Le Grandeur Balikpapan
    Taman Permata Buana adalah berupa hak guna                   Hotel and Taman Permata Buana are situated,
    bangunan yang jatuh tempo masing-masing                      are owned by the Group with Building Use
    pada tahun 2028, 2028, dan 2026. Manajemen                   Rights (Hak Guna Bangunan or HGB) which will
    berpendapat     tidak      terdapat   masalah                expire in 2028, 2028, and 2026, respectively.
    perpanjangan hak atas tanah karena seluruh                   Management believes that there will be no
    tanah diperoleh secara sah dan didukung                      difficulty in the extention of the land rights since
    dengan bukti-bukti pemilikan yang memadai.                   all the land were acquired legally and supported
                                                                 by sufficient evidences of ownership.

    Aset tetap, kecuali tanah, diasuransikan                     Property and equipment, except land,
    terhadap risiko kebakaran, kerusakan, pencurian              are insured against risks of fire, damages, theft
    dan     risiko     lainnya.    Pada     tanggal              and other possible risks. As of December 31,
    31 Desember 2025 dan 2024, aset tetap tersebut               2025 and 2024, these assets are insured with
    diasuransikan kepada PT Asuransi Sinar Mas,                  PT Asuransi Sinar Mas, a related party
    pihak berelasi (Catatan 42), dengan jumlah                   (Note 42), for Rp 670,452,457,039 as of
    pertanggungan sebesar Rp 670.452.457.039                     December 31, 2025 and Rp 320,234,010,317
    pada tanggal 31 Desember 2025 dan                            and US$ 23,730,329 as of December 31, 2025.
    Rp 320.234.010.317 dan US$ 23.730.329 pada                   Management believes that the insurance
    tanggal 31 Desember 2024. Manajemen                          coverages are adequate to cover possible
    berkeyakinan bahwa nilai pertanggungan                       losses on the assets insured.
    tersebut cukup untuk menutup kemungkinan
    kerugian atas aset yang dipertanggungkan.

    Pada tanggal 31 Desember 2025 dan 2024,                      As of December 31, 2025 and 2024, the
    estimasi nilai wajar berupa tanah dan bangunan               estimated fair value of land and buildings of
    hotel serta bangunan dan mesin proyek Go                     Hotel and buildings and machinery of Go Wet
    Wet       masing-masing       adalah    sebesar              project amounted to Rp 1,257,648,000,000,
    Rp 1.257.648.000.000, berdasarkan hasil                      respectively, based on report of KJPP
    laporan oleh KJPP Rengganis, Hamid & Rekan,                  Rengganis, Hamid & Partners, an independent
    penilai independen, pada tanggal 5 Maret 2025.               appraiser dated March 5, 2025.




                                                  - 62 -
Page 317
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                            For the Years Ended
31 Desember 2025 dan 2024                                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                              unless Otherwise Stated)


      Manajemen berkeyakinan bahwa tidak terdapat                                       Management believes that there is no
      perubahan signifikan atas nilai wajar aset tetap                                  significant change in the fair value of property
      selama periode sejak tanggal laporan penilai                                      and equipment from the last valuation report
      independen sampai dengan tanggal laporan                                          date up to consolidated statements of financial
      posisi keuangan konsolidasian dan tidak                                           position date and that there is no impairment in
      terdapat penurunan nilai atas aset tersebut pada                                  value of the aforementioned assets as of
      tanggal 31 Desember 2025 dan 2024.                                                December 31, 2025 and 2024.


15.   Aset Hak-Guna                                                             15.     Right-of-Use Assets

                                                                Perubahan selama Tahun 2025/
                                                                     Changes during 2025
                                         1 Januari 2025/     Penambahan/         Pengurangan/           31 Desember 2025/
                                         January 1, 2025       Additions          Deductions            December 31, 2025

      Biaya perolehan:                                                                                                      At cost:
        Tanah                               3.889.000.000                 -                        -        3.889.000.000      Land
        Peralatan kantor                    7.001.325.376     5.978.351.421           (7.829.097.111)       5.150.579.686      Office equipment
      Jumlah                               10.890.325.376     5.978.351.421           (7.829.097.111)       9.039.579.686   Total

      Akumulasi penyusutan:                                                                                                 Accumulated depreciation:
        Tanah                               2.193.725.122     1.196.664.612                        -        3.390.389.734     Land
        Peralatan kantor                    6.959.283.627     2.103.355.678           (7.244.787.651)       1.817.851.654     Office equipment
      Jumlah                                9.153.008.749     3.300.020.290           (7.244.787.651)       5.208.241.388   Total
      Nilai Tercatat                        1.737.316.627                                                   3.831.338.298   Net Carrying Value

                                                                Perubahan selama Tahun 2024/
                                                                     Changes during 2024
                                         1 Januari 2024/     Penambahan/         Pengurangan/           31 Desember 2024/
                                         January 1, 2024       Additions          Deductions            December 31, 2024

      Biaya perolehan:                                                                                                      At cost:
        Tanah                               3.889.000.000                   -                  -            3.889.000.000      Land
        Bangunan                            2.215.671.279                   -     (2.215.671.279)                       -      Buildings
        Peralatan kantor                    7.001.325.376                   -                  -            7.001.325.376      Office equipment
      Jumlah                               13.105.996.655                   -     (2.215.671.279)          10.890.325.376   Total

      Akumulasi penyusutan:                                                                                                 Accumulated depreciation:
        Tanah                                 997.060.510     1.196.664.612                    -            2.193.725.122     Land
        Bangunan                            2.215.671.279                 -       (2.215.671.279)                       -     Buildings
        Peralatan kantor                    4.641.458.953     2.317.824.674                    -            6.959.283.627     Office equipment
      Jumlah                                7.854.190.742     3.514.489.286       (2.215.671.279)           9.153.008.749   Total

      Nilai Tercatat                        5.251.805.913                                                   1.737.316.627   Net Carrying Value


      Pengurangan aset hak-guna pada tahun 2025                                         Deductions of right-of-use assets in 2025 and
      dan 2024 sehubungan dengan selesainya                                             2024 related to the expiration of lease contract
      periode masa sewa kontrak dan terminasi                                           and the termination of lease contract during the
      perjanjian sewa selama tahun berjalan.                                            year.

      Pembebanan              penyusutan        adalah      sebagai                     Depreciation expense are allocated as follows:
      berikut:

                                                             2025                         2024

       Beban umum dan administrasi                                                                          General and administrative expenses
         (Catatan 35b)                                      3.300.020.290               3.261.903.804         (Note 35b)
       Lain-lain - Bersih (Catatan 39)                                  -                 252.585.482       Others - Net (Note 39)

       Jumlah                                               3.300.020.290               3.514.489.286       Total



      Manajemen berkeyakinan bahwa tidak terdapat                                       Management believes that there is no
      penurunan nilai atas aset hak-guna pada tanggal                                   impairment in value of the aforementioned
      31 Desember 2025 dan 2024.                                                        right-of-use assets as of December 31, 2025
                                                                                        and 2024.


                                                                    - 63 -
Page 318
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                           For the Years Ended
31 Desember 2025 dan 2024                                                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                             unless Otherwise Stated)


16.   Properti Investasi                                                                     16.       Investment Properties

      Pada tanggal 31 Desember 2025 dan                                                                As of December 31, 2025 and 2024, the
      2024, properti investasi berlokasi di Jakarta,                                                   investment properties are located in Jakarta,
      Bekasi, Depok dan Semarang dan disewakan                                                         Bekasi, Depok and Semarang and being leased
      kepada pihak ketiga berdasarkan perjanjian                                                       out to third parties (Note 44).
      sewa (Catatan 44).
                                                                                  Perubahan selama Tahun 2025/
                                                                                       Changes during 2025
                                     Luas Area/   1 Januari 2025/     Penambahan/         Pengurangan/         Reklasifikasi/       31 Desember 2025/
                                       Area       January 1, 2025      Additions           Deductions       Reclassifications       December 31, 2025
                                      m2/sqm
      Biaya perolehan:                                                                                                                                   At cost:
         Kepemilikan langsung                                                                                                                               Direct acquisitions
           Sinarmas Land Plaza          84.646      720.268.015.454                 -                  -                    -          720.268.015.454         Sinarmas Land Plaza
           Cashbac                       2.585       53.392.535.100                 -                  -                    -           53.392.535.100         Cashbac
           Sopo Del Tower                2.754      116.372.794.645                 -                  -                    -          116.372.794.645         Sopo Del Tower
           ITC Mangga Dua                3.199        2.839.353.055                 -                  -                    -            2.839.353.055         ITC Mangga Dua
           Mega ITC Cempaka Mas         14.720       59.976.839.757                 -                  -                    -           59.976.839.757         Mega ITC Cempaka Mas
           ITC Kuningan                 11.674       16.899.293.794                 -                  -                    -           16.899.293.794         ITC Kuningan
           ITC Depok                    11.600       87.872.424.952                 -                  -                    -           87.872.424.952         ITC Depok
           Grand Wisata                 24.195       69.343.639.992                 -                  -        7.766.120.968           77.109.760.960         Grand Wisata
           DP Mall Semarang             53.633      669.132.865.463                 -                  -      546.968.293.173        1.216.101.158.636         DP Mall Semarang
           Aeon Mall South Gate         47.586    1.096.104.264.239                 -                  -                    -        1.096.104.264.239         Aeon Mall South Gate

        Jumlah                         256.592    2.892.202.026.451                 -                  -      554.734.414.141        3.446.936.440.592     Subtotal

        Aset tetap dalam rangka
          bangun, kelola, dan                                                                                                                              Properties under build, operate,
          alih                                                                                                                                                and transfer agreement
          Jembatan                                  56.615.865.596                  -                  -                        -       56.615.865.596        Bridge
          Terowongan                                 6.215.378.136                  -                  -                        -        6.215.378.136        Underground channel

        Jumlah                                      62.831.243.732                  -                  -                        -       62.831.243.732     Subtotal
        Properti investasi dalam
          pembangunan                              349.229.804.698    198.251.317.410                  -      (546.968.293.173)           512.828.935      Construction in progress

        Jumlah                                    3.304.263.074.881   198.251.317.410                  -         7.766.120.968       3.510.280.513.259     Total

      Akumulasi penyusutan:                                                                                                                              Accumulated depreciation:
        Kepemilikan langsung                                                                                                                               Direct acquisitions
          Sinarmas Land Plaza                      444.530.339.084     16.768.430.610                  -                        -      461.298.769.694        Sinarmas Land Plaza
          Cashbac                                   18.967.639.254      1.743.892.278                  -                        -       20.711.531.532        Cashbac
          Sopo Del Tower                            34.911.838.368      5.818.639.734                  -                        -       40.730.478.102        Sopo Del Tower
          ITC Mangga Dua                             2.839.353.055                  -                  -                        -        2.839.353.055        ITC Mangga Dua
          Mega ITC Cempaka Mas                      51.889.773.753                  -                  -                        -       51.889.773.753        Mega ITC Cempaka Mas
          ITC Kuningan                              16.899.293.794                  -                  -                        -       16.899.293.794        ITC Kuningan
          ITC Depok                                 84.730.344.836      3.142.080.116                  -                        -       87.872.424.952        ITC Depok
          Grand Wisata                               1.159.618.875        272.851.500                  -                        -        1.432.470.375        Grand Wisata
          DP Mall Semarang                         219.661.229.691     36.156.027.268                  -                        -      255.817.256.959        DP Mall Semarang
          Aeon Mall South Gate                     210.334.815.580     49.490.544.843                  -                        -      259.825.360.423        Aeon Mall South Gate

        Jumlah                                    1.085.924.246.290   113.392.466.349                  -                        -    1.199.316.712.639     Subtotal

        Aset tetap dalam rangka                                                                                                                            Properties under build, operate,
          bangun, kelola, dan alih                                                                                                                            and transfer agreement
          Jembatan                                  43.355.934.209      2.095.263.004                  -                        -       45.451.197.213        Bridge
          Terowongan                                 5.386.661.032        248.615.133                  -                        -        5.635.276.165        Underground channel

        Jumlah                                      48.742.595.241      2.343.878.137                  -                        -       51.086.473.378     Subtotal
      Jumlah                                      1.134.666.841.531   115.736.344.486                  -                        -    1.250.403.186.017   Total

      Nilai Tercatat                              2.169.596.233.350                                                                  2.259.877.327.242   Net Carrying Value




                                                                                 - 64 -
Page 319
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                            Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                               For the Years Ended
31 Desember 2025 dan 2024                                                                                             December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                             (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                 unless Otherwise Stated)

                                                                                      Perubahan selama Tahun 2024/
                                                                                           Changes during 2024
                                      Luas Area/   1 Januari 2024/        Penambahan/         Pengurangan/         Reklasifikasi/          31 Desember 2024/
                                        Area       January 1, 2024         Additions           Deductions       Reclassifications          December 31, 2024
                                       m2/sqm
    Biaya perolehan:                                                                                                                                              At cost:
       Kepemilikan langsung                                                                                                                                          Direct acquisitions
         Sinarmas Land Plaza             84.646      720.268.015.454                    -                  -                       -          720.268.015.454           Sinarmas Land Plaza
         Cashbac                          2.585       53.392.535.100                    -                  -                       -           53.392.535.100           Cashbac
         Sopo Del Tower                   2.754      116.372.794.645                    -                  -                       -          116.372.794.645           Sopo Del Tower
         ITC Mangga Dua                   3.199                    -                    -                  -           2.839.353.055            2.839.353.055           ITC Mangga Dua
         Mega ITC Cempaka Mas            14.720       59.976.839.757                    -                  -                       -           59.976.839.757           Mega ITC Cempaka Mas
         ITC Kuningan                    11.674       16.899.293.794                    -                  -                       -           16.899.293.794           ITC Kuningan
         ITC Depok                       11.600       87.872.424.952                    -                  -                       -           87.872.424.952           ITC Depok
         Grand Wisata                    24.195       56.165.363.600                    -                  -          13.178.276.392           69.343.639.992           Grand Wisata
         DP Mall Semarang                53.633      669.132.865.463                    -                  -                       -          669.132.865.463           DP Mall Semarang
         Aeon Mall South Gate            47.586    1.096.104.264.239                    -                  -                       -        1.096.104.264.239           Aeon Mall South Gate

       Jumlah                           256.592    2.876.184.397.004                    -                  -          16.017.629.447        2.892.202.026.451       Subtotal

       Aset tetap dalam rangka
         bangun, kelola, dan                                                                                                                                        Properties under build, operate,
         alih                                                                                                                                                          and transfer agreement
         Jembatan                                    56.615.865.596                     -                  -                       -             56.615.865.596        Bridge
         Pusat jajan                                  1.501.973.743                     -                  -          (1.501.973.743)                         -        Food court
         Parkir                                       1.337.379.312                     -                  -          (1.337.379.312)                         -        Parking
         Terowongan                                   6.215.378.136                     -                  -                       -              6.215.378.136        Underground channel

       Jumlah                                        65.670.596.787                     -                  -          (2.839.353.055)            62.831.243.732     Subtotal
       Properti investasi dalam
         pembangunan                                109.984.618.793       239.245.185.905                  -                        -           349.229.804.698     Construction in progress

       Jumlah                                      3.051.839.612.584      239.245.185.905                  -          13.178.276.392        3.304.263.074.881       Total

    Akumulasi penyusutan:                                                                                                                                         Accumulated depreciation:
      Kepemilikan langsung                                                                                                                                          Direct acquisitions
        Sinarmas Land Plaza                         426.865.209.033        17.665.130.051                  -                       -            444.530.339.084        Sinarmas Land Plaza
        Cashbac                                      17.223.161.610         1.744.477.644                  -                       -             18.967.639.254        Cashbac
        Sopo Del Tower                               29.093.198.640         5.818.639.728                  -                       -             34.911.838.368        Sopo Del Tower
        ITC Mangga Dua                                            -                     -                  -           2.839.353.055              2.839.353.055        ITC Mangga Dua
        Mega ITC Cempaka Mas                         51.889.773.753                     -                  -                       -             51.889.773.753        Mega ITC Cempaka Mas
        ITC Kuningan                                 16.899.293.794                     -                  -                       -             16.899.293.794        ITC Kuningan
        ITC Depok                                    11.354.434.592        73.375.910.244                  -                       -             84.730.344.836        ITC Depok
        Grand Wisata                                    886.767.375           272.851.500                  -                       -              1.159.618.875        Grand Wisata
        DP Mall Semarang                            194.414.448.114        25.246.781.577                  -                       -            219.661.229.691        DP Mall Semarang
        Aeon Mall South Gate                        160.844.270.736        49.490.544.844                  -                       -            210.334.815.580        Aeon Mall South Gate

       Jumlah                                       909.470.557.647       173.614.335.588                  -           2.839.353.055        1.085.924.246.290       Subtotal

       Aset tetap dalam rangka                                                                                                                                      Properties under build, operate,
         bangun, kelola, dan alih                                                                                                                                      and transfer agreement
         Jembatan                                    41.260.671.177         2.095.263.032                  -                       -             43.355.934.209        Bridge
         Pusat jajan                                  1.472.626.823            29.346.920                  -          (1.501.973.743)                         -        Food court
         Parkir                                       1.311.660.585            25.718.727                  -          (1.337.379.312)                         -        Parking
         Terowongan                                   5.138.045.908           248.615.124                  -                       -              5.386.661.032        Underground channel

       Jumlah                                        49.183.004.493         2.398.943.803                  -          (2.839.353.055)            48.742.595.241     Subtotal

    Jumlah                                          958.653.562.140       176.013.279.391                  -                        -       1.134.666.841.531     Total

    Nilai Tercatat                                 2.093.186.050.444                                                                        2.169.596.233.350     Net Carrying Value



    Pendapatan properti investasi yang diakui pada                                                         Income from investment properties in 2025 and
    laba rugi selama tahun 2025 dan 2024                                                                   2024 amounted to Rp 590,147,072,787 and
    masing-masing sebesar Rp 590.147.072.787                                                               Rp 522,857,650,628, respectively, which were
    dan Rp 522.857.650.628 yang disajikan sebagai                                                          recorded as part of “Revenues” in profit or loss
    bagian dari “Pendapatan usaha” dalam laba rugi                                                         (Note 33).
    (Catatan 33).

    Pembebanan                      penyusutan          adalah           sebagai                           Depreciation expense are allocated as follows:
    berikut:

                                                                           2025                                2024

     Beban pokok penjualan (Catatan 34)                                115.463.492.986               175.740.427.891                    Cost of revenues (Note 34)
     Lain-lain - Bersih (Catatan 39)                                       272.851.500                   272.851.500                    Others - Net (Note 39)

     Jumlah                                                            115.736.344.486               176.013.279.391                    Total




                                                                                    - 65 -
Page 320
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                  PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                 For the Years Ended
31 Desember 2025 dan 2024                                                               December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                               (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                   unless Otherwise Stated)


    Pada tanggal 31 Desember 2025 dan 2024,                                 As of December 31, 2025 and 2024,
    properti investasi   dalam    pembangunan                               construction   in     progress      represents
    merupakan akumulasi biaya konstruksi sebagai                            accumulated costs of construction as follows:
    berikut:

                                            2025                                        2024

                             Bangunan yang         % nilai terhadap      Bangunan yang         % nilai terhadap
                                 sedang            nilai kontrak/%           sedang            nilai kontrak/%
                          dikonstruksi/Buildings   to the contract    dikonstruksi/Buildings   to the contract
                            under construction         amount           under construction         amount
                                                           %                                           %

     Kota Wisata                   266.000.000           70                             -             -           Kota Wisata
     Sport Hub                     246.828.935           14                             -             -           Sport Hub
     DP Mall Semarang                        -            -               349.229.804.698            88           DP Mall Semarang

     Jumlah                        512.828.935                            349.229.804.698                         Total

    Reklasifikasi pada tahun 2025 merupakan                                 Reclassification     in   2025       represents
    reklasifikasi dari properti investasi dalam                             reclassification from construction in progress
    pembangunan         dan        tanah      yang                          and land under development amounting to
    sedang dikembangkan masing-masing sebesar                               Rp 546,968,293,173 and Rp 7,766,120,968
    Rp 546.968.293.173 dan Rp 7.766.120.968                                 (Note 8), respectively. While reclassification
    (Catatan 8). Sedangkan pada tahun 2024                                  in 2024 represents reclassification from
    merupakan reklasifikasi dari tanah yang sedang                          land under development and properties under
    dikembangkan dan reklasifikasi dari aset tetap                          build, operate, and transfer agreement
    dalam rangka bangun, kelola, dan alih                                   amounting to Rp 13,178,276,392 (Note 8) and
    masing- masing sebesar Rp 13.178.276.392                                Rp 2,839,353,055, respectively.
    (Catatan 8) dan Rp 2.839.353.055.

    Grup mengasuransikan properti investasi                                 Directly acquired investment properties are
    kepemilikan langsung kepada PT Asuransi Sinar                           insured with PT Asuransi Sinar Mas (ASM), a
    Mas (ASM), pihak berelasi (Catatan 42),                                 related party (Note 42), against risks of fire,
    terhadap risiko kebakaran, kerusakan dan risiko                         damages, theft, and other possible risks with
    lainnya    dengan     jumlah    pertanggungan                           insurance coverage of Rp 7,192,287,695,196
    sebesar Rp 7.192.287.695.196 pada tanggal                               as     of    December       31,    2025     and
    31 Desember 2025 dan Rp 1.724.489.535.000                               Rp 1,724,489,535,000 and US$ 382,472,144 as
    dan     US$     382.472.144    pada     tanggal                         of December 31, 2024, while Mega ITC
    31 Desember 2024. Nilai pertanggungan untuk                             Cempaka Mas, ITC Depok and ITC Kuningan
    kios Mega ITC Cempaka Mas, ITC Depok dan                                and the bridge under build, operate and transfer
    kios ITC Kuningan serta jembatan dalam rangka                           agreement between PMS and Pemda Jakarta,
    bangun, kelola dan alih antara PMS dengan                               are jointly insured with inventories (Note 8).
    Pemda Jakarta merupakan nilai pertanggungan                             While the bridge and and underground channel
    gabungan dengan persediaan (Catatan 8),                                 under build, operate and transfer agreement
    sedangkan jembatan dan terowongan dalam                                 between the Company and Pemda are insured
    rangka bangun, kelola dan alih antara                                   with ASM, a related party (Note 42), against
    Perusahaan       dengan      Pemda      Jakarta                         risks of physical losses and damages, with
    diasuransikan kepada ASM, pihak berelasi                                insurance coverage of US$ 10,645,618 as of
    (Catatan 42), terhadap risiko kehilangan dan                            December 31, 2024. Management believes that
    kerusakan dengan jumlah pertanggungan                                   the insurance coverages are adequate to cover
    sebesar US$ 10.645.618 pada tanggal                                     possible losses on the assets insured.
    31 Desember 2024. Manajemen berkeyakinan
    bahwa nilai pertanggungan asuransi tersebut
    adalah cukup untuk menutup kemungkinan
    kerugian    atas    properti  investasi   yang
    dipertanggungkan.

    Pada tanggal 31 Desember 2025 dan 2024,                                 As of December 31, 2025 and 2024, the
    estimasi    nilai  wajar   properti   investasi                         estimated aggregate fair values of investment
    masing-masing           adalah         sebesar                          properties amounted to Rp 6,107,808,000,000,
    Rp 6.107.808.000.000, berdasarkan hasil                                 respectively, based on report of KJPP
    laporan oleh KJPP Rengganis, Hamid & Rekan,                             Rengganis, Hamid & Partners, an independent
    penilai independen pada tanggal 5 Maret 2025.                           appraiser dated March 5, 2025.


                                                          - 66 -
Page 321
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                            For the Years Ended
31 Desember 2025 dan 2024                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                              unless Otherwise Stated)


      Manajemen berkeyakinan bahwa tidak terdapat                     Management believes that there is no
      perubahan signifikan atas nilai wajar properti                  significant change in the fair value of investment
      investasi selama periode sejak tanggal laporan                  properties from the last valuation report date up
      penilai independen sampai dengan tanggal                        to consolidated statements of financial position
      laporan posisi keuangan konsolidasian dan tidak                 date and that there is no impairment in value of
      terdapat penurunan nilai atas aset tersebut pada                the aforementioned assets as of December 31,
      tanggal 31 Desember 2025 dan 2024.                              2025 and 2024.


17.   Goodwill                                                  17.   Goodwill

      Merupakan goodwill yang diperoleh Perusahaan                    This represents goodwill from the Company’s
      atas penyertaan sahamnya pada entitas anak                      investments in shares of stock of the
      dengan rincian sebagai berikut:                                 subsidiaries with details follows:

                     Nama Perusahaan/                        Bulan Perolehan/
                     Company's Name                         Date of Acquisition               2025 dan/and 2024
      PT Sinarwijaya Ekapratista                     Januari/January 1994                                12.000.060
      PT Royal Oriental                              Maret/March 1994                                 1.864.859.777
      PT Mustika Karya Sejati                        Agustus/August 1995                                551.308.980
      PT Misaya Properindo                           Agustus/August 1997                                272.779.285
      PT Putra Alvita Pratama                        Desember/December 2004                           6.590.129.125
      PT Kembangan Permai Development                Januari/January 2005                                11.855.070
      Jumlah/Total                                                                                    9.302.932.297

      Uji Penurunan Nilai Goodwill                                    Impairment Test for Goodwill

      Goodwill yang diperoleh melalui kombinasi bisnis                Goodwill     acquired     through    business
      dialokasikan ke dua Unit Penghasil Kas (UPK)                    combination have been allocated to two
      individu, yang juga merupakan segmen                            individual cash genarating units (CGU), which
      dilaporkan, untuk tujuan uji penurunan nilai, yaitu             are also reportable segments, for impairment
      UPK Real Estat dan UPK Properti Investasi.                      testing namely: Real Estate CGU and
                                                                      Investment Properties CGU.

      Jumlah terpulihkan     dari UPK-UPK di atas                     The recoverable amounts of the above CGUs
      ditentukan berdasarkan perhitungan nilai pakai.                 have been determined based on value-in-use
      Nilai pakai ditentukan dengan mendiskontokan                    calculations. Value in use was determined by
      arus kas masa depan yang diharapkan akan                        discounting the future cash flows expected to be
      dihasilkan dari pemakaian berkelanjutan atas                    generated from the continuing use of the units.
      UPK-UPK tersebut. Perhitungan nilai pakai                       The calculation of the value in use was based
      berdasarkan pada asumsi-asumsi berikut:                         on the following key assumptions:

      •    Arus kas di masa depan ditentukan                     •    •    Future cash flows were based on the
           berdasarkan       proyeksi       penjualan                      projected sales of real estate inventories,
           persediaan real estat, tanah untuk                              land for development, estimated cost of
           dikembangkan, estimasi biaya perolehan                          assets to be aquired as well as from the
           aset yang akan diakusisi, serta estimasi                        estimated rental income from investment
           pendapatan sewa dari properti investasi                         properties with the assumptions that there
           dengan asumsi tidak ada penambahan                              was no new investment. Other operational
           investasi baru. Beban operasional lainnya                       expenses       were estimated based on
           diestimasi berdasarkan data historis.                           historical rate.
                                                                 •
      •    Tingkat diskonto sebelum pajak yang                   •    •    Pre-tax discount rate of 12.3% and 13.1%
           digunakan untuk menghitung jumlah                               in 2025 and 2024, respectively, was
           terpulihkan masing-masing adalah sebesar                        applied in determining the recoverable
           12,3% dan 13,1% untuk tahun 2025 dan                            amounts. The discount rate used was
           2024. Tingkat diskonto ini diestimasi                           determined based on the weighted
           berdasarkan rata-rata tertimbang biaya                          average cost of capital allocated by the
           modal yang dialokasikan oleh Grup kepada                        Group to these units.
           UPK-UPK tersebut.


                                                       - 67 -
Page 322
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                            For the Years Ended
31 Desember 2025 dan 2024                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                              unless Otherwise Stated)


      Asumsi utama sebagaimana dijelaskan di atas                     The key assumptions described above may
      dapat berubah sejalan dengan perubahan kondisi                  change as economic and market conditions
      ekonomi dan pasar. Grup memperkirakan bahwa                     change. The Group estimates that reasonably
      kemungkinan perubahan asumsi ini tidak akan                     possible changes in these assumptions would
      mengakibatkan nilai tercatat UPK-UPK tersebut                   not cause the carrying value of each CGU to
      melebihi jumlah terpulihkannya secara material.                 materially exceed its recoverable amount. Thus,
      Oleh karena itu, manajemen berpendapat bahwa                    as of December 31, 2025 and 2024,
      tidak terdapat penurunan nilai atas goodwill                    management believes that there is no
      tersebut pada tanggal 31 Desember 2025 dan                      impairment in the carrying value of goodwill.
      2024. Pengujian penurunan nilai atas goodwill                   The impairment testing on goodwill is performed
      dilakukan setiap akhir tahun atau setiap kali                   every yearend or whenever there is an
      terdapat indikasi bahwa goodwill mengalami                      indication that the goodwill is impaired.
      penurunan nilai.


18.   Utang Usaha                                               18.   Trade Accounts Payable

      Merupakan utang Grup kepada kontraktor                          This account consists of the Group’s payable to
      pembangunan, pemasok atas pembelian                             contractors in relation to the development costs,
      persediaan hotel, perlengkapan dan peralatan                    to suppliers in relation to the hotel operations
      operasi dengan rincian masing-masing segmen                     and operational supplies and equipment, which
      sebagai berikut:                                                are classified per business segment as follows:

                                                2025                    2024

      Pihak berelasi (Catatan 42)                                                     Related party (Note 42)
        Real estat                            5.858.428.450                       -    Real estate

      Pihak ketiga                                                                    Third parties
        Real estat                          212.506.890.203       224.815.101.845       Real estate
        Hotel                                 1.152.685.707           894.341.165       Hotel
        Jumlah                              213.659.575.910       225.709.443.010       Subtotal
      Jumlah                                219.518.004.360       225.709.443.010     Total

      Rincian umur utang dihitung sejak tanggal faktur                The aging analysis of trade accounts payable
      adalah sebagai berikut:                                         from the date of invoice follows:

                                                2025                   2024

      Sampai dengan 1 bulan                 158.152.445.300       209.337.011.978     Less than or equal to 1 month
                                                                                      More than 1 month but less than
      > 1 bulan - 3 bulan                    53.781.535.622           9.642.321.558     3 months
                                                                                      More than 3 months but less than
      > 3 bulan - 6 bulan                     1.446.827.513            661.903.549      6 months
                                                                                      More than 6 months but less than
      > 6 bulan - 1 tahun                        57.000.000              33.010.000     12 months
      > 1 tahun                               6.080.195.925           6.035.195.925   More than 12 months

      Jumlah                                219.518.004.360       225.709.443.010     Total




                                                       - 68 -
Page 323
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                            For the Years Ended
31 Desember 2025 dan 2024                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                              unless Otherwise Stated)


19.   Utang Pajak                                               19.    Taxes Payable

                                                2025                     2024

      Pajak kini (Catatan 40)                   108.250.342             538.671.087    Corporate income tax (Note 40)
      Pajak penghasilan                                                                Income taxes
       Pasal 21                              12.625.721.200           12.437.708.623     Article 21
       Pasal 23                                 933.525.483              832.356.847     Article 23
       Pasal 25                                  70.276.639               83.078.332     Article 25
       Pasal 26                                           -            9.966.266.460     Article 26
       Pasal 4 ayat 2                        11.184.348.533           15.444.325.827     Article 4 paragraph 2
      Pajak Pembangunan I                        90.087.693              203.367.371   Development tax I
      Pajak Pertambahan Nilai - bersih        9.951.640.914           23.073.427.421   Value Added Tax - net

      Jumlah                                 34.963.850.804           62.579.201.968   Total



20.   Beban Akrual                                              20.    Accrued Expenses

      Akun ini terdiri dari biaya operasional Grup yang                This account represent accrual of certain
      masih harus dibayar.                                             operating expenses of the Group.


21.   Setoran Jaminan                                           21.    Security Deposits

      Berdasarkan jenis transaksi, setoran jaminan                     The details of security deposits by nature of
      terdiri dari:                                                    transactions follows:

                                                2025                     2024

      Sewa                                  195.213.076.943       180.882.892.405      Rental
      Jasa pelayanan                         38.134.962.616        36.764.662.854      Service charge
      Telepon                                10.472.094.095         9.414.399.928      Telephone

      Jumlah                                243.820.133.654       227.061.955.187      Total

      Setoran jaminan disajikan dalam laporan posisi                   Security deposits are presented in consolidated
      keuangan konsolidasian sebagai:                                  statements of financial position as:

                                                2025                     2024

      Liabilitas jangka pendek              161.919.964.932       154.804.718.175      Current liabilities
      Liabilitas jangka panjang              81.900.168.722        72.257.237.012      Noncurrent liabilities

      Jumlah                                243.820.133.654       227.061.955.187      Total



22.   Liabilitas Kontrak                                        22.    Contract Liabilities

      Liabilitas kontrak merupakan uang muka                           Contract liabilities pertain to advances received
      penjualan tanah dan bangunan Grup yang                           from buyers for the sale of land and buildings,
      diterima dari pelanggan yang kewajibannya                        wherein the performance obligation have not
      belum terpenuhi.                                                 been satisfied.

                                                2025                     2024

      Tanah, rumah tinggal dan ruko        1.432.846.261.876     1.455.043.569.177     Land, houses and shophouses
      Tanah dan bangunan strata title         40.853.178.634        84.587.528.774     Land and buildings with strata title

      Jumlah                               1.473.699.440.510     1.539.631.097.951     Total

      Pada tanggal 31 Desember 2025 dan 2024,                          As of December 31, 2025 and 2024, contract
      liabilitas kontrak termasuk beban bunga atas                     liabilities include interest expense on contract
      liabilitas kontrak masing-masing sebesar                         liabilities amounting to Rp 89,775,239,950 and
      Rp 89.775.239.950 dan Rp 91.626.549.128.                         Rp 91,626,549,128, respectively.


                                                       - 69 -
Page 324
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                       For the Years Ended
31 Desember 2025 dan 2024                                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                         unless Otherwise Stated)


    Mutasi dari liabilitas kontrak adalah sebagai                                The movement of contract liabilities follows:
    berikut:

                                                          2025                    2024

     Saldo awal                                   1.539.631.097.951         2.496.166.511.614     Beginning balance
     Pendapatan yang diakui selama                                                                Revenue recognized during
      tahun berjalan termasuk komponen                                                              the year including financing
      bunga (Catatan 33)                         (1.912.123.005.917)        (3.666.299.200.840)     component (Note 33)
     Kenaikan yang disebabkan oleh                                                                Increase due to cash received and
      penerimaan kas dan lainnya                  1.745.406.096.673         2.586.189.946.002       others
     Beban bunga atas liabilitas kontrak                                                          Interest expense on contract
      (Catatan 38)                                 100.785.251.803            123.573.841.175       liabilities (Note 38)

     Saldo akhir                                  1.473.699.440.510         1.539.631.097.951     Ending balance


    Kewajiban pelaksanaan yang tersisa akan                                      The remaining performance obligation will be
    dipenuhi antara tahun 2026 dan 2028.                                         satisfied between 2026 and 2028.

    Liabilitas kontrak disajikan dalam laporan posisi                            Contract liabilities are presented in consolidated
    keuangan konsolidasian sebagai:                                              statements of financial position as:

                                                          2025                    2024

     Liabilitas jangka pendek                     1.231.130.951.791         1.001.239.961.503     Current liabilities
     Liabilitas jangka panjang                      242.568.488.719           538.391.136.448     Noncurrent liabilities

     Jumlah                                       1.473.699.440.510         1.539.631.097.951     Total

    Rincian liabilitas kontrak berdasarkan unit real                             Details of contract liabilities based on sold real
    estat yang dibeli adalah sebagai berikut:                                    estate unit follows:

                                                2025                                     2024
                                                                 Unit                                 Unit

     Uang muka penjualan                                                                                         Advances received
     Grand Wisata                   715.268.108.994                298        719.377.387.897             367    Grand Wisata
     Kota Wisata                    610.592.232.880                218        633.171.392.111             225    Kota Wisata
     Taman Permata Buana             41.328.286.120                  3         13.206.018.616               6    Taman Permata Buana
     Legenda Wisata                  32.398.431.697                 19         19.506.156.804               9    Legenda Wisata
     Aerium                          24.583.656.081                  8         59.061.132.880              20    Aerium
     Banjar Wijaya                   21.791.395.475                 19         58.690.200.855              44    Banjar Wijaya
     Klaska Residence                15.488.486.690                 31         18.623.069.694              51    Klaska Residence
     South Gate                       7.615.535.566                  6         13.362.432.087              15    South Gate
     Bekasi                           4.260.546.000                  7          4.260.546.000               7    Bekasi
     Superblok Ambasador                                                                                         Superblok Ambasador
       Kuningan dan                                                                                                Kuningan and
       ITC Kuningan                        372.761.007                  8         372.761.007                8     ITC Kuningan
     Jumlah                       1.473.699.440.510                617      1.539.631.097.951             752    Total

    Persentase liabilitas kontrak terhadap jumlah                                Percentage of contract liabilities to total sales
    harga jual adalah sebagai berikut:                                           price follows:

                                                         2025                     2024

    Bekasi                                             100,00                   100,00            Bekasi
    Banjar Wijaya                                       76,57                    86,84            Banjar Wijaya
    Legenda Wisata                                      75,75                    87,34            Legenda Wisata
    Kota Wisata                                         72,77                    72,72            Kota Wisata
    Grand Wisata                                        69,62                    65,61            Grand Wisata
    Aerium                                              68,27                    64,53            Aerium
    Taman Permata Buana                                 50,00                    78,51            Taman Permata Buana
    South Gate                                          43,65                    36,90            South Gate
    Superblok Ambasador Kuningan dan                                                              Superblok Ambasador Kuningan
      ITC Kuningan                                       36,53                   36,53              and ITC Kuningan
    Klaska Residence                                     24,14                   23,81            Klaska Residence




                                                                  - 70 -
Page 325
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                       For the Years Ended
31 Desember 2025 dan 2024                                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                         unless Otherwise Stated)


      Berdasarkan Perjanjian Pengikatan Jual Beli                                  Based on sales and purchase contract, the
      (PPJB), Perusahaan akan dikenakan denda                                      Company will be charged with a penalty of 1%o
      sebesar 1%o (satu permil) untuk setiap hari                                  (per mile) of sales price that is stated in the
      keterlambatan dihitung dari harga pengikatan                                 contract (excluding VAT) for each day of delay,
      (tidak termasuk PPN) yang telah diterima oleh                                and the Company will be charged with 5% of the
      Perusahaan dan maksimal sebesar 5% dari                                      said price, if the Company will not be able to
      harga pengikatan tersebut, apabila Perusahaan                                hand over the house/property to the customers
      tidak dapat menyerahkan rumah/properti kepada                                on the agreed date of turn-over as stipulated in
      pembeli pada tanggal yang telah disepakati                                   the contract.
      dalam PPJB.

      Rincian liabilitas kontrak (tidak termasuk                                   Details of contract liabilities (excluding financing
      komponen bunga) berdasarkan persentase atas                                  component) based on percentage to sales price
      harga jual adalah sebagai berikut:                                           follows:

                                                           2025                     2024

      100%                                            1.084.128.732.765     1.047.359.868.297        100%
      50% - 99%                                         253.560.917.179       357.651.000.185        50% - 99%
      20% - 49%                                          32.992.173.592        23.528.034.067        20% - 49%
      < 20%                                              13.242.377.024        19.465.646.274        < 20%

      Jumlah                                          1.383.924.200.560     1.448.004.548.823         Total



23.   Uang Muka Diterima                                                   23.     Advances Received

      Uang muka diterima terutama berasal dari                                     Advances received mainly pertain to receipts
      penyewa dan atau pemilik kios atau penggunaan                                from the lessees or kiosk owners for the
      fasilitas promosi yang disediakan Grup serta                                 facilities promoted by the Group and deposits
      uang titipan konsumen.                                                       from customers.


24.   Sewa Diterima Dimuka                                                 24.     Rental Advances

      Merupakan uang muka yang diterima atas sewa                                  This account pertains to advance rentals
      ruang perkantoran, kios dan lainnya.                                         received for the rental of office spaces, kiosks
                                                                                   and among others.


25.   Liabilitas Sewa                                                      25.     Lease Liabilities

      Berikut adalah pembayaran sewa minimum                                       The following are the future minimum lease
      masa yang akan datang (future minimum lease                                  payments based on the lease agreement
      payment) berdasarkan perjanjian sewa antara                                  between the Group and a third party as of
      Grup dengan pihak ketiga per 31 Desember                                     December 31, 2025:
      2025:

                                                                   2025

      Pembayaran yang jatuh tempo pada tahun:                                        Payments due in:
        2025                                                        355.600.000         2025
        2026                                                      1.881.600.000         2026
        2027                                                      1.568.000.000         2027
      Jumlah pembayaran sewa minimum                              3.805.200.000      Total minimum lease liabilities
      Bunga                                                        (214.547.696)     Interest
      Nilai sekarang pembayaran sewa minimum                      3.590.652.304      Present value of minimum lease liabilities
      Bagian yang akan jatuh tempo dalam satu tahun               2.070.280.292      Less: current portion
      Bagian utang jangka panjang yang akan                                          Long-term portion of lease liabilities -
        jatuh tempo lebih dari satu tahun                         1.520.372.012         net of current portion




                                                                  - 71 -
Page 326
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                   PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                               Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                  For the Years Ended
31 Desember 2025 dan 2024                                                                                                December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                    unless Otherwise Stated)


      Mutasi dari liabilitas sewa adalah sebagai                                                             The movement of lease liabilities is as follows:
      berikut:

                                                                           2025                                2024

      Saldo awal                                                                               -            2.482.013.717            Beginning balance
      Penambahan (pengurangan) bersih                                                                                                Net additional (deduction) during
       selama tahun berjalan                                             3.590.652.304                     (2.482.013.717)            the year

      Saldo akhir                                                        3.590.652.304                                         -     Ending balance


      Liabilitas sewa merupakan liabilitas atas                                                              Lease liabilities represent liabilities for lease of
      perolehan peralatan kantor oleh Grup. Liabilitas                                                       office equipment by the Group. These liabilities
      sewa tidak memiliki jaminan dan berjangka waktu                                                        are unsecured and have terms of three (3)
      tiga (3) tahun.                                                                                        years.

      Beban bunga sewa yang dibebankan pada laba                                                             The lease interest expense charged to
      rugi masing-masing sebesar Rp 318.356.060                                                              operations in 2025 and 2024 amounted to
      dan Rp 101.966.283 pada tahun 2025 dan 2024                                                            Rp 318,356,060 and Rp 101,966,283,
      (Catatan 38).                                                                                          respectively (Note 38).


26.   Pengukuran Nilai Wajar                                                                        26.      Fair Value Measurement

      Tabel berikut menyajikan pengukuran nilai wajar                                                        The following table provides the fair value
      aset dan liabilitas tertentu Grup:                                                                     measurement of the Group’s certain assets and
                                                                                                             liabilities:
                                                                                             2025
                                                                                         Pengukuran nilai wajar menggunakan:/
                                                                                            Fair value measurement using:
                                                                                                                          Input signifikan
                                                                                                   Input signifikan     yang tidak dapat
                                                                          Harga kuotasian            yang dapat             diobservasi
                                                                          dalam pasar aktif/        di observasi             (Level 3)/
                                                                              (Level 1)/              (Level 2)/            Significant
                                                                           Quoted prices             Significant          unobservable
                                                      Nilai Tercatat/    in active markets        observable inputs            inputs
                                                     Carrying Values          (Level 1)               (Level 2)              (Level 3)

      Aset yang nilai wajarnya disajikan:                                                                                                       Assets for which fair values are disclosed:
       Aset tetap yang dicatat pada biaya                                                                                                        Property and equipment
         perolehan                                                                                                                                 carried at cost
         Tanah dan bangunan (Catatan 14)              154.294.845.143                  -           1.257.648.000.000                    -          Land and buildings (Note 14)
       Properti investasi yang dicatat pada biaya
         perolehan                                                                                                                                Investment properties carried at cost
         Tanah dan bangunan (Catatan 16)             2.259.364.498.307                 -           6.107.808.000.000                    -           Land and buildings (Note 16)

      Liabilitas yang nilai wajarnya disajikan
        (termasuk bagian yang akan jatuh tempo
        dalam waktu satu tahun dan lebih dari                                                                                                   Liabilities for which fair values are disclosed:
        satu tahun)                                                                                                                               (including current and noncurrent portion)
        Liabilitas sewa (Catatan 25)                    3.590.652.304                  -             3.590.652.304                      -            Lease liabilities (Note 25)
        Setoran jaminan (Catatan 21)                  243.820.133.654                  -            252.202.400.778                     -            Security deposits (Note 21)



                                                                                              2024
                                                                                          Pengukuran nilai wajar menggunakan:/
                                                                                             Fair value measurement using:
                                                                                                                           Input signifikan
                                                                                                    Input signifikan      yang tidak dapat
                                                                           Harga kuotasian            yang dapat             diobservasi
                                                                           dalam pasar aktif/        di observasi             (Level 3)/
                                                                               (Level 1)/              (Level 2)/            Significant
                                                                            Quoted prices             Significant          unobservable
                                                      Nilai Tercatat/     in active markets        observable inputs            inputs
                                                     Carrying Values           (Level 1)               (Level 2)              (Level 3)
      Aset yang nilai wajarnya disajikan:                                                                                                        Assets for which fair values are disclosed:
        Aset tetap yang dicatat pada biaya                                                                                                         Property and equipment
          perolehan                                                                                                                                  carried at cost
          Tanah dan bangunan (Catatan 14)              164.891.518.318                     -       1.257.648.000.000                        -        Land and buildings (Note 14)
        Properti investasi yang dicatat pada biaya
          perolehan                                                                                                                                Investment properties carried at cost
          Tanah dan bangunan (Catatan 16)            1.820.366.428.652                     -       6.107.808.000.000                        -        Land and buildings (Note 16)

      Liabilitas yang nilai wajarnya disajikan
        (termasuk bagian yang akan jatuh tempo
        dalam waktu satu tahun dan lebih dari                                                                                                    Liabilities for which fair values are disclosed:
        satu tahun)                                                                                                                                (including current and noncurrent portion)
        Setoran jaminan (Catatan 21)                   227.061.955.187                     -         234.995.854.722                        -         Security deposits (Note 21)




                                                                                    - 72 -
Page 327
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


      Nilai wajar instrumen keuangan yang tidak                                The fair value of financial instruments that are
      diperdagangkan di pasar aktif ditentukan                                 not traded in an active market is determined by
      menggunakan teknik penilaian. Teknik penilaian                           using valuation techniques. These valuation
      ini memaksimalkan penggunaan data pasar yang                             techniques maximize the use of observable
      dapat diobservasi yang tersedia dan sesedikit                            market data where it is available and rely as little
      mungkin mengandalkan estimasi spesifik yang                              as possible on entity’s specific estimates. If all
      dibuat oleh entitas. Jika seluruh input signifikan                       significant inputs required to fair value an
      yang dibutuhkan untuk menentukan nilai wajar                             instrument are observable, the instrument is
      dapat diobservasi, maka instrumen tersebut                               included in Level 2. The fair value of security
      termasuk dalam hirarki Level 2. Nilai wajar                              deposits are estimated based on discounted
      setoran jaminan diestimasi berdasarkan arus kas                          cash flows using interest rate which is market
      yang didiskontokan menggunakan suku bunga                                observable.
      pasar yang dapat diobservasi.

      Informasi tentang pengukuran nilai wajar untuk                           The information about fair value measurements
      aset non-keuangan yang termasuk hirarki                                  of non-financial assets categorized as Level 2
      Level 2 adalah sebagai berikut:                                          follows:

                                                                                                                           Rentang
                                   Tehnik penilaian/                     Input yang tidak                           (Rata-rata tertimbang)/
            Keterangan/               Valuation                         dapat diobservasi/                                 Range
            Description              Technique                         Unobservable Inputs                           (Weighted Average)

      Properti investasi/       Arus kas diskonto/        Tingkat pertumbuhan laba bersih jangka panjang/             12,24% - 13,14%
       Investment properties    Discounted cash flows     Long-term net operating income
                                Pendekatan pasar          Estimasi harga jual per meter persegi/                       Rp 12.000.000 -
                                pembanding/               Estimated selling price per square meters                    Rp 40.000.000
                                Market-comparable
                                approach
                                Pendekatan biaya          Estimasi biaya penggantian                                           -
                                pengganti/Replacement     setelah dikurangi penyusutan/
                                cost approach             Estimated replacement cost net
                                                          of depreciation

      Aset tetap/               Arus kas diskonto/        Tingkat pertumbuhan laba bersih jangka panjang/                  12,44%
       Property and equipment   Discounted cash flow      Long-term net operating income
                                                          Estimasi biaya penggantian
                                Pendekatan biaya          setelah dikurangi penyusutan/                                        -
                                pengganti/Replacement     Estimated replacement cost net
                                cost approach             of depreciation


27.   Modal Saham                                                      27.     Capital Stock

      Susunan kepemilikan saham Perusahaan pada                                As of December 31, 2025 and 2024, the share
      tanggal 31 Desember 2025 dan 2024                                        ownership in the Company, based on the record
      berdasarkan catatan yang dibuat oleh                                     of PT Sinartama Gunita, a related party shares
      PT Sinartama Gunita, Biro Administrasi Efek,                             registrar, follows:
      pihak berelasi, adalah sebagai berikut:

                                                           2025 dan/and 2024
                                            Jumlah             Persentase               Jumlah
                                            Saham/            Kepemilikan/           Modal Disetor/
                                           Number of          Percentage             Total Paid-up
           Nama Pemegang Saham              Shares           of Ownership            Capital Stock              Name of Stockholder
                                                                   %

      PT Bumi Serpong Damai Tbk           1.709.013.633                92,38        854.506.816.500         PT Bumi Serpong Damai Tbk
      Masyarakat                            140.986.367                 7,62         70.493.183.500         Public
      Jumlah                              1.850.000.000               100,00        925.000.000.000         Total




                                                             - 73 -
Page 328
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


      Selama tahun 2024, PT Bumi Serpong Damai                                   During 2024, PT Bumi Serpong Damai Tbk
      Tbk melakukan pembelian saham dari                                         purchased shares from public totalling to
      masyarakat sebesar 17.137.000 saham.                                       17,137,000 shares.

      Perusahaan   telah   mencatatkan                 seluruh                   All of the shares of the Company are listed in
      sahamnya pada Bursa Efek Indonesia.                                        the Indonesia Stock Exchange.

      Manajemen Permodalan                                                       Capital Management

      Tujuan utama dari pengelolaan modal Grup                                   The primary objective of the Group’s capital
      adalah untuk memastikan bahwa Grup                                         management is to ensure that it maintains
      mempertahankan rasio modal yang sehat dalam                                healthy capital ratios in order to support its
      rangka mendukung bisnis dan memaksimalkan                                  business and maximize shareholder value. The
      nilai pemegang saham. Grup tidak diwajibkan                                Group is not required to meet any capital
      untuk memenuhi syarat-syarat modal tertentu.                               requirements.

      Grup mengelola struktur modal dan membuat                                  The Group manages its capital structure and
      penyesuaian     terhadap     struktur   modal                              makes adjustments to it, in light of changes in
      sehubungan     dengan    perubahan     kondisi                             economic conditions. The Group monitors its
      ekonomi. Grup memantau modalnya dengan                                     capital using gearing ratios, by dividing net debt
      menggunakan analisa gearing ratio (rasio utang                             by total capital. The Group’s capital structure
      terhadap modal), yakni membagi utang bersih                                consists of equity and loans received reduced
      terhadap jumlah modal. Struktur modal Grup                                 by cash and cash equivalents.
      terdiri dari ekuitas dan pinjaman diterima
      dikurangi dengan kas dan setara kas.


28.   Tambahan Modal Disetor                                           28.       Additional Paid-in Capital

                                                          2025 dan/and 2024

      Agio saham                                                 452.294.849.950         Share premium
      Dampak program pengampunan pajak                            12.786.784.261         Impact of tax amnesty program

      Jumlah                                                     465.081.634.211         Total

      Agio Saham                                                                 Share Premium

      Merupakan agio saham:                                                      This account represents additional paid-in
                                                                                 capital in connection with the following:

                                                                  Jumlah/Total

      Penjualan saham Perusahaan pada penawaran umum                                   Sale of the Company's shares through public offering
        kepada masyarakat tahun 1994                                                      in 1994
        Jumlah yang diterima untuk pengeluaran
           25.000.000 saham                                        78.750.000.000         Proceeds from the issuance of 25,000,000 shares
        Jumlah yang dicatat sebagai modal disetor                 (25.000.000.000)        Amount recorded as paid-up capital
                                                                                          Balance of additional paid-in capital as of
      Saldo agio saham pada tanggal 31 Desember 1994              53.750.000.000             December 31, 1994




                                                            - 74 -
Page 329
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                               PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                              For the Years Ended
31 Desember 2025 dan 2024                                                            December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                            (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)

                                                            Jumlah/Total

      Konversi atas obligasi konversi menjadi saham
        tahun 1995                                                               Conversion of convertible bonds in 1995
        Jumlah obligasi yang dikonversi                      78.750.000.000         Total bonds converted
        Jumlah yang dicatat sebagai modal disetor           (52.500.000.000)        Amount recorded as paid-up capital
        Bersih                                               26.250.000.000         Net

                                                                                 Balance of additional paid-in capital as of
      Saldo agio saham pada tanggal 31 Desember 1995         80.000.000.000          December 31, 1995
      Pembagian saham bonus tahun 1996                      (69.375.000.000)     Distribution of bonus shares in 1996
                                                                                 Balance of additional paid-in capital as of
      Saldo agio saham pada tanggal 31 Desember 1996        10.625.000.000           December 31, 1996

      Penawaran umum terbatas I kepada pemegang saham
        tahun 1997                                                               Rights offering I to stockholders in 1997
        Jumlah yang diterima untuk pengeluaran                                      Proceeds from the issuance of
           693.750.000 saham                                502.968.750.000              693,750,000 shares
        Jumlah yang dicatat sebagai modal disetor          (346.875.000.000)        Amount recorded as paid-up capital
        Bersih                                              156.093.750.000         Net

      Jumlah pada tanggal 31 Desember 2007                 166.718.750.000       Balance as of December 31, 2007

      Penawaran umum terbatas II kepada pemegang saham
         tahun 2008                                                              Rights offering II to stockholders in 2008
         Jumlah yang diterima untuk pengeluaran                                     Proceeds from the issuance of
            462.500.000 saham                               520.312.500.000              462,500,000 shares
         Jumlah yang dicatat sebagai modal disetor         (231.250.000.000)        Amount recorded as paid-up capital
         Bersih                                             289.062.500.000         Net
      Biaya emisi efek                                       (3.486.400.050)     Shares issuance cost

      Jumlah pada tanggal 31 Desember 2025                                       Balance as of December 31, 2025
        dan 2024                                           452.294.849.950          and 2024



29.   Selisih Nilai Transaksi dengan Kepentingan                  29.      Difference in Value Arising from Transaction
      Nonpengendali                                                        with Non-controlling Interest

      Pada tanggal 26 Mei 2025, PT Kurniasubur                             On May 26, 2025, PT Kurniasubur Permai
      Permai (KSP), entitas anak, dan Sinarmas Land                        (KSP), a subsidiary, and Sinarmas Land (HK)
      (HK) Limited, pihak berelasi (Catatan 42),                           Limited, a related party (Note 42), approved the
      menyetujui penambahan modal disetor pada                             increase in paid-up capital which was fully
      PT Kurnia Sinergi Mas (KSM) masing-masing                            issued by PT Kurnia Sinergi Mas (KSM)
      sebesar      Rp     2.388.000.000.000      dan                       amounting to Rp 2,388,000,000,000 and
      Rp 406.422.000.000. Transaksi ini meningkatkan                       Rp 406,422,000,000, respectively. This
      persentase kepemilikan KSP di KSM dari 51,00%                        transaction increased the ownership interest of
      menjadi 85,33%. Hal ini menyebabkan                                  KSP in KSM from 51.00% to 85.33%. As a
      penyertaan KSP pada KSM berkurang sebesar                            result, the effect of decrease in carrying value of
      Rp 8.914.137 yang dibukukan pada akun                                KSP’s interest in KSM amounting to
      “Selisih Nilai Transaksi dengan Kepentingan                          Rp 8,914,137 was recorded under “Difference
      Nonpengendali”.                                                      in value arising from transactions with
                                                                           Non-controlling Interests” account.

      Pada tanggal 25 Juni 2025, KSP, entitas anak,                        On June 25, 2025, KSP, a subsidiary, sold
      menjual 962.845 lembar saham pada KSM,                               962,845 shares in KSM, a subsidiary, to
      entitas anak, kepada Sinarmas Land (HK)                              Sinarmas Land (HK) Limited, a related party
      Limited, pihak berelasi (Catatan 42). Transaksi                      (Note 42). This transaction decreased the
      ini menurunkan kepemilikan KSP di KSM dari                           ownership interest of KSP in KSM from 85.33%
      85,33% menjadi 50,99%. Hal ini menyebabkan                           to 50.99%. As a result, the effect of decrease in
      penyertaan KSP pada KSM berkurang sebesar                            carrying value of KSP’s interest in KSM
      Rp 42.487.072 yang dibukukan pada akun                               amounting to Rp 42,487,072 was recorded
      “Selisih Nilai Transaksi dengan Kepentingan                          under “Difference in value arising from
      Nonpengendali”.                                                      transactions with Non-controlling Interests”
                                                                           account.




                                                         - 75 -
Page 330
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


      Pada tanggal 20 Desember 2024, Perusahaan                  On December 20, 2024, the Company
      dan PT Sinar Mas Griya (SMG), menyetujui                   and PT Sinar Mas Griya (SMG), approved
      penambahan modal disetor pada PT Wijaya                    the     increase      in    paid-up     capital
      Pratama Raya (WPR) masing-masing sebesar                   which was fully issued by PT Wijaya
      Rp 125.647.894.000 dan Rp 44.352.107.000                   Pratama     Raya     (WPR)     amounting     to
      atau masing-masing setara dengan 125.647.894               Rp 125,647,894,000 and Rp 44,352,107,000,
      dan   44.352.107     saham.   Transaksi    ini             respectively, consisting of 125,647,894 and
      menurunkan       persentase      kepemilikan               44,352,107     shares,    respectively.   This
      Perusahaan di WPR dari 73,9105259% menjadi                 transaction decreased the ownership interest of
      73,9105258%. Hal ini menyebabkan penyertaan                the Company in WPR from 73.9105259% to
      Perusahaan pada WPR berkurang sebesar                      73.9105258%. As a result, the effect of
      Rp 573 yang dibukukan pada akun ”Selisih Nilai             decrease in the carrying value of Company’s
      Transaksi dengan Kepentingan Nonpengendali”.               interest in WPR amounting to Rp 573 was
                                                                 recorded under “Difference in Value Arising
                                                                 from Transaction with Non-controlling Interest”
                                                                 account.

      Pada tanggal 8 Maret 2024, Perusahaan                      On March 8, 2024, the Company and
      dan SMG, menyetujui penambahan modal                       SMG, approved the increase in paid-up capital
      disetor pada WPR masing-masing sebesar                     which was fully issued by WPR amounting to
      Rp 81.301.000.000 dan Rp 28.699.000.000 atau               Rp 81,301,000,000 and Rp 28,699,000,000,
      masing-masing setara dengan 81.301.000 dan                 respectively, consisting of 81,301,000 and
      28.699.000 saham. Transaksi ini menurunkan                 28,699,000     shares,    respectively.    This
      persentase kepemilikan Perusahaan di WPR dari              transaction decreased the ownership interest of
      73,9108%     menjadi    73,9105%.    Hal  ini              the Company in WPR from 73.9108% to
      menyebabkan penyertaan Perusahaan pada                     73.9105%. As a result, the effect of decrease in
      WPR berkurang sebesar Rp 1.116.362 yang                    the carrying value of Company’s interest in
      dibukukan pada akun ”Selisih Nilai Transaksi               WPR amounting to Rp 1,116,362 was recorded
      dengan Kepentingan Nonpengendali”.                         under “Difference in Value Arising from
                                                                 Transaction with Non-controlling Interest”
                                                                 account.


30.   Saldo Laba Ditentukan Penggunaannya                  30.   Appropriated Retained Earnings

      Berdasarkan     Undang-undang   Perseroan                  Under Indonesian Limited Company Law (Law),
      Terbatas    (Undang-undang),   perusahaan                  companies are required to set up a statutory
      diwajibkan   untuk   membentuk   cadangan                  reserve amounting to at least 20% of the
      sekurang-kurangnya sebesar 20% dari jumlah                 Company’s issued and paid-up capital.
      modal ditempatkan dan disetor.

      Saldo    laba    yang     telah    ditentukan              The balance of appropriated retained earnings
      penggunaannya pada tanggal 31 Desember                     as of December 31, 2025 and 2024 in
      2025 dan 2024 terkait Undang-undang                        connection with this Law amounted to
      tersebut   masing-masing    adalah    sebesar              Rp 31,589,383,000 and Rp 29,589,383,000,
      Rp 31.589.383.000 dan Rp 29.589.383.000.                   respectively.


31.   Dividen                                              31.   Dividends

      Berdasarkan Keputusan Direksi dan Keputusan                Based on the Directors’ Decision and Board of
      Dewan Komisaris tertanggal 2 Desember 2024,                Commissioners’ Decision dated December 2,
      Perusahaan membagikan dividen interim                      2024, the Company distributes interim
      sebesar Rp 703.000.000.000 atau setara dengan              dividends amounting to Rp 703,000,000,000 or
      Rp 380 per lembar saham.                                   equivalent to Rp 380 per share.




                                                  - 76 -
Page 331
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                                                                   PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                                               Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                                                                  For the Years Ended
31 Desember 2025 dan 2024                                                                                                                                December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                                                                (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                                                                    unless Otherwise Stated)


32.   Kepentingan Nonpengendali                                                                                                    32.           Non-Controlling Interests

      Akun ini merupakan bagian kepemilikan                                                                                                      This account represents the share of
      nonpengendali atas aset bersih entitas anak,                                                                                               non-controlling stockholders on the net assets
      dengan rincian sebagai berikut:                                                                                                            of the subsidiaries, with details follows:
                                                                                                                                                  2025
                                                                                                       Penyesuaian Nilai                                                                           Ekuitas pada        Selisih Transaksi
                                                                    Piutang           Tambahan           Wajar Saham                                                                                   Rugi           Perubahan Ekuitas
                                                                  Pemesanan              Modal           Entitas Anak/         Saldo Laba            Laba (Rugi)                                Komprehensif Lain/       Entitas Anak/
                                                                    Saham/              Disetor/       Adjustment on Fair        (Defisit)/        Tahun Berjalan/                                Share in Other      Difference Due to
             Nama Entitas Anak/                  Modal/           Subscription         Additional          Value of a       Retained earnings/   Share in Profit (Loss)                          Comprehensive        Changes in Equity
             Name of Subsidiary               Capital Stock       Receivable         Paid-in Capital   Subsidiary Shares         (Deficit)          For The Year           Dividen/Dividends          Loss              of a Subsidiary       Jumlah/Total

      PT Kurnia Sinergi Mas **)       1.374.167.000.000                          -               -                     -                    -           (675.443.787)                      -                     -            51.401.209   1.373.542.957.422
      PT Putra Alvita Pratama           191.959.275.382                          -   4.012.889.069                     -    1.295.290.300.158        155.012.055.442        (887.311.930.366)         (315.216.287)                    -     758.647.373.398
      PT Mitrakarya Multiguna           258.345.000.000                          -      18.000.000                     -       (5.965.524.065)        (2.455.675.189)                      -            (1.851.975)                    -     249.939.948.771
      PT Wijaya Pratama Raya            136.174.011.000                          -      26.089.472        92.108.935.357       31.944.240.471         11.443.713.870         (28.718.686.920)          (54.538.159)              546.259     242.924.311.350
      PT Royal Oriental                  12.621.375.000                          -      25.890.000                     -    1.118.111.774.162         40.324.498.924      (1.041.887.062.875)          (84.910.319)                    -     129.111.564.892
      PT Kembangan Permai Development     2.000.000.000                          -      19.999.990                     -      169.948.218.114         (1.575.640.462)        (97.000.000.000)          (31.732.445)        1.388.463.124      74.749.308.321
      PT Phinisindo Zamrud Nusantara        399.000.000                          -      22.516.930        24.832.020.843       50.690.446.106           (529.195.398)        (55.345.290.000)          (43.075.555)                    -      20.026.422.926
      PT Putra Tirta Wisata *)              325.380.000                          -     145.323.069                     -         (397.131.862)            (4.682.978)                      -               (12.318)                    -          68.875.911
      PT Saranapapan Ekasejati                    1.000                          -               1                     -                 (471)                   (35)                    (74)                   (1)                    -                 420
      Jumlah/Total                          1.975.991.042.382                    -   4.270.708.531      116.940.956.200     2.659.622.322.613        201.539.630.387      (2.110.262.970.235)         (531.337.059)        1.440.410.592   2.849.010.763.411

      * Merupakan entitas anak dari PT Putra Alvita Pratama/A subsidiary of PT Putra Alvita Pratama
      ** Merupakan entitas anak dari PT Kurniasubur Permai/A subsidiary of PT Kurniasubur Permai

                                                                                                                                                  2024
                                                                                                       Penyesuaian Nilai                                                                           Ekuitas pada        Selisih Transaksi
                                                                   Piutang            Tambahan           Wajar Saham                                                                            Penghasilan (Rugi)    Perubahan Ekuitas
                                                                 Pemesanan               Modal           Entitas Anak/         Saldo Laba            Laba (Rugi)                                Komprehensif Lain/       Entitas Anak/
                                                                   Saham/               Disetor/       Adjustment on Fair        (Defisit)/        Tahun Berjalan/                                Share in Other      Difference Due to
             Nama Entitas Anak/                 Modal/           Subscription          Additional          Value of a       Retained Earnings    Share in Profit (Loss)                          Comprehensive        Changes in Equity
             Name of Subsidiary              Capital Stock       Receivable          Paid-in Capital   Subsidiary Shares         (Deficit)          For The Year          Dividen/Dividends       Income (Loss)         of a Subsidiary      Jumlah/Total

      PT Putra Alvita Pratama               191.959.275.382                  -       4.012.889.069                     -      795.760.215.431       499.464.333.769         (716.069.558.690)          65.750.958                     -     775.192.905.919
      PT Mitrakarya Multiguna               258.345.000.000                  -          18.000.000                     -       (3.928.642.795)       (2.036.910.084)                       -               28.814                     -     252.397.475.935
      PT Wijaya Pratama Raya                136.174.011.000                  -          26.089.472        92.108.935.357       27.729.926.966         4.229.430.110          (28.718.686.920)         (15.116.605)              546.259     231.535.135.639
      PT Royal Oriental                      12.621.375.000                  -          25.890.000                     -    1.080.466.418.835        37.635.692.152       (1.041.887.062.875)           9.663.175                     -      88.871.976.287
      PT Kembangan Permai Development         2.000.000.000                  -          19.999.990                     -      169.609.678.624           330.630.799          (90.000.000.000)           7.908.691         1.388.463.124      83.356.681.228
      PT Phinisindo Zamrud Nusantara            399.000.000                  -          22.516.930        24.832.020.843       66.606.177.276       (15.855.637.101)         (55.345.290.000)         (60.094.069)                    -      20.598.693.879
      PT Kurnia Sinergi Mas **)               4.900.000.000     (4.900.000.000)                  -                     -                    -                     -                        -                    -                     -                   -
      PT Putra Tirta Wisata *)                  325.380.000                  -         145.323.069                     -         (391.786.646)           (5.345.241)                       -                   25                     -          73.571.207
      PT Saranapapan Ekasejati                        1.000                  -                   1                     -                 (447)                  (24)                     (74)                   -                     -                 456
      Jumlah/Total                          606.724.042.382     (4.900.000.000)      4.270.708.531       116.940.956.200    2.135.851.987.244       523.762.194.380       (1.932.020.598.559)           8.140.989         1.389.009.383    1.452.026.440.550

      * Merupakan entitas anak dari PT Putra Alvita Pratama/A subsidiary of PT Putra Alvita Pratama
      ** Merupakan entitas anak dari PT Kurniasubur Permai/A subsidiary of PT Kurniasubur Permai



      Pada bulan Juni 2025, para pemegang saham                                                                                                  In June 2025, the shareholders of PT Kurnia
      PT Kurnia Sinergi Mas (KSM) menyetujui                                                                                                     Sinergi Mas (KSM) approved the sale of shares
      penjualan saham milik PT Kurniasubur Permai                                                                                                owned by PT Kurniasubur Permai (KSP),
      (KSP), entitas anak, kepada Sinarmas Land (HK)                                                                                             a subsidiary, to Sinarmas Land (HK) Limited
      Limited (SML HK), pihak berelasi (Catatan 42),                                                                                             (SML HK), a related party (Note 42), amounting
      sebesar Rp 962.845.000.000.                                                                                                                to Rp 962,845,000,000.

      Pada bulan Mei 2025, para pemegang saham                                                                                                   In May 2025, the shareholders of KSM
      KSM menyetujui untuk meningkatkan modal                                                                                                    agreed to increase the paid-up capital. The
      ditempatkan dan disetor. Bagian kepentingan                                                                                                non-controlling interest in relation to this
      nonpengendali atas kenaikan modal ini sebesar                                                                                              transaction amounted to Rp 406,422,000,000.
      Rp 406.422.000.000.

      Pada bulan Desember 2024, KSP, entitas anak                                                                                                In December 2024, KSP, a subsidiary, and
      dan SML HK, pihak berelasi (Catatan 42),                                                                                                   SML HK, a related party (Note 42), placed
      menempatkan       modal     disetor   di  KSM                                                                                              paid-up capital in KSM amounting to
      masing-masing sebesar Rp 5.100.000.000 dan                                                                                                 Rp 5,100,000,000 and Rp 4,900,000,000,
      Rp      4.900.000.000    atau     masing-masing                                                                                            respectively, or representing 5,100 shares and
      mencerminkan 5.100 dan 4.900 saham dengan                                                                                                  4,900 shares, respectively, with nominal value
      nilai nominal sebesar Rp 1.000.000 per saham.                                                                                              of Rp 1,000,000 per share. The non-controlling
      Bagian nonpengendali atas peningkatan modal                                                                                                interest in relation to this transactions amounted
      ini adalah sebesar Rp 4.900.000.000.                                                                                                       to Rp 4,900,000,000.

      Pada bulan Desember 2024, para pemegang                                                                                                    In December 2024, shareholders of PT Wijaya
      saham     PT     Wijaya     Pratama     Raya                                                                                               Pratama Raya (WPR) agreed to increase the
      (WPR)     menyetujui   untuk    meningkatkan                                                                                               paid-up capital from Rp 351,950,000,000
      modal    ditempatkan    dan     disetor  dari                                                                                              consisting  of   351,950,000     shares    to
      Rp 351.950.000.000 terdiri dari 351.950.000                                                                                                Rp 521,950,001,000 consisting of 521,950,001
      saham menjadi Rp 521.950.001.000 terdiri dari                                                                                              shares. The non-controlling interest in
      521.950.001 saham. Bagian nonpengendali atas                                                                                               relation to this transactions amounted to
      peningkatan modal ini adalah sebesar                                                                                                       Rp 44,352,107,000.
      Rp 44.352.107.000.



                                                                                                                    - 77 -
Page 332
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                           For the Years Ended
31 Desember 2025 dan 2024                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)

      Pada bulan Maret 2024, para pemegang                           In March 2024, the shareholders of WPR
      saham WPR menyetujui untuk meningkatkan                        agreed to increase the paid-up capital from
      modal    ditempatkan   dan     disetor   dari                  Rp 241,950,000,000 consisting of 241,950,000
      Rp 241.950.000.000 terdiri dari 241.950.000                    shares to Rp 351,950,000,000 consisting of
      saham menjadi Rp 351.950.000.000 terdiri dari                  351,950,000 shares. The non-controlling
      351.950.000 saham. Bagian nonpengendali atas                   interest in relation to this transactions amounted
      peningkatan modal ini adalah sebesar                           to Rp 28,699,000,000.
      Rp 28.699.000.000.


33.   Pendapatan Usaha                                         33.   Revenues

      Rincian pendapatan usaha Grup berdasarkan                      The details of the Group’s revenues by nature
      produk utama adalah sebagai berikut:                           of transactions follows:

                                               2025                   2024

      Penjualan:                                                                    Sales:
        Tanah, rumah tinggal dan ruko     1.576.553.556.712     2.898.574.880.157     Land, houses and shophouses
        Tanah dan bangunan strata title     335.569.449.205       767.724.320.683     Land and buildings with strata title
      Sewa                                  655.607.378.888       587.771.218.031   Rental
      Hotel                                  23.777.726.710        25.472.666.795   Hotel
      Lain-lain                             141.512.838.902       143.139.574.582   Others

      Jumlah                              2.733.020.950.417     4.422.682.660.248   Total

      Pada tahun 2025 dan 2024, Grup mengakui                        In 2025 and 2024, the Group recognized
      pendapatan     keuangan      dari    kontrak                   finance income from contract with customers
      dengan pelanggan masing-masing sebesar                         amounting to Rp 100,935,330,520 and
      Rp 100.935.330.520 dan Rp 193.068.088.397.                     Rp 193,068,088,397, respectively.

      Pendapatan lain-lain terutama merupakan                        Others mostly pertain to revenues from services
      pendapatan dari jasa pelayanan dan utilitas.                   and utilities.

      Pada tahun 2025 dan 2024, tidak terdapat                       In 2025 and 2024, there are no sales to a certain
      penjualan kepada pihak tertentu yang melebihi                  party that exceeded 10% of the total revenues.
      10% dari jumlah pendapatan usaha.


34.   Beban Pokok Penjualan                                    34.   Cost of Revenues

      Rincian dari beban pokok penjualan adalah                      This account consists of cost of sales and direct
      sebagai berikut:                                               costs with details follows:

                                               2025                   2024

      Beban pokok penjualan                                                         Cost of sales of
       Tanah, rumah tinggal dan ruko       533.711.436.710      1.072.138.146.429    Land, houses and shophouses
       Tanah dan bangunan strata title     239.965.049.269        551.597.702.970    Land and buildings with strata title
        Jumlah                             773.676.485.979      1.623.735.849.399    Total

      Beban langsung:                                                               Direct costs:
       Sewa (Catatan 14 dan 16)            120.133.955.854       180.439.803.001      Rental (Notes 14 and 16)
       Hotel                                 7.885.069.119         8.224.908.734      Hotel
        Jumlah                             128.019.024.973       188.664.711.735      Total
      Jumlah                               901.695.510.952      1.812.400.561.134   Total



      Pada tahun 2025 dan 2024, tidak terdapat                       In 2025 and 2024, there are no purchases from
      pembelian dan atau pembayaran kepada pihak                     a certain party that exceeded 10% of the total
      tertentu yang melebihi 10% dari jumlah                         revenues.
      pendapatan usaha.




                                                      - 78 -
Page 333
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                               PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                              For the Years Ended
31 Desember 2025 dan 2024                                                            December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                            (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                unless Otherwise Stated)


35.   Beban Usaha                                                 35.   Operating Expenses

      Rincian dari beban usaha adalah sebagai                           The details of operating expenses follows:
      berikut:

                                                  2025                  2024

      a.Beban Penjualan                                                               a.Selling Expenses

        Iklan, komisi dan promosi             290.943.924.192       401.704.765.962     Advertising, commission and promotions
        Listrik, komunikasi, dan keperluan                                              Electricity, communication and
           kantor                              99.924.740.171        89.991.638.470       office expenses
        Jasa alih daya                         75.503.507.615        74.032.593.743     Outsourcing
        Gaji dan tunjangan karyawan            41.566.116.662        40.546.884.247     Salaries and employees' allowances
        Pemeliharaan dan perbaikan             39.314.048.183        57.167.746.353     Repairs and maintenance
        Pajak Bumi dan Bangunan                11.934.111.457        14.658.994.390     Land and Building tax
        Asuransi                               10.419.620.185        10.466.703.954     Insurance
        Teknologi informasi                       127.187.500           111.661.025     Information technology
        Konsultan dan perijinan                    40.165.333            26.445.534     Consultation fees and permits
        Perjalanan dinas                           34.330.509            81.785.925     Business related travels
        Jamuan dan sumbangan                       20.522.053            21.326.532     Representation and donations
        Lain-lain                               4.185.918.020         4.277.527.164     Others
        Jumlah                                574.014.191.880       693.088.073.299     Total

      b.Beban Umum dan Administrasi                                                   b.General and Administrative Expenses

        Gaji dan tunjangan karyawan           253.498.652.702       220.640.446.264     Salaries and employee's allowances
        Pajak Bumi dan Bangunan                58.047.516.192        44.702.929.798     Land and Building tax
        Pemeliharaan dan perbaikan             41.561.224.305        25.666.394.604     Repairs and maintenance
        Penyusutan dan amortisasi                                                       Depreciation and amortization
          (Catatan 14 dan 15)                  20.017.256.328        18.477.615.963       (Notes 14 and 15)
        Konsultan dan perijinan                19.685.491.273        10.747.943.708     Consultation fees and permits
        Jasa alih daya                         17.006.945.036        22.194.430.333     Outsourcing
        Imbalan kerja jangka panjang                                                    Long-term employee benefits
          (Catatan 36)                         12.917.385.781        13.398.444.291       (Note 36)
        Listrik, komunikasi, dan keperluan                                              Electricity, communication and office
          kantor                               12.632.636.563        10.935.143.533       expenses
        Teknologi informasi                     8.464.333.660           783.100.360     Information technology
        Jamuan dan sumbangan                    4.355.714.009         4.759.137.221     Representation and donations
        Asuransi                                3.411.368.393         2.252.525.712     Insurance
        Perjalanan dinas                        2.070.886.241         1.265.839.939     Business related travels
        Sewa                                    1.347.412.500         1.318.609.510     Rental
        Corporate social responsibilities                   -            20.000.000     Corporate social responsibilities
        Lain-lain                              26.399.555.327        26.817.028.839     Others
        Jumlah                                481.416.378.310       403.979.590.075     Total

      c. Beban Pajak Final (Catatan 40)       118.122.005.258       154.246.891.435   c. Final Tax Expense (Note 40)

      Jumlah Beban Usaha                     1.173.552.575.448    1.251.314.554.809   Total Operating Expenses



36.   Imbalan Kerja Jangka Panjang                                36.   Long-term Employee Benefits

      Besarnya    imbalan    pasca-kerja         dihitung               The amount of post-employment benefits is
      berdasarkan ketentuan yang berlaku.                               calculated based on the applicable provisions.

      Untuk pendanaan imbalan kerja jangka panjang,                     To fund these long-term employee benefits, the
      Grup menyelenggarakan program dana pensiun                        Group operates a defined benefit pension plan
      manfaat pasti untuk seluruh karyawan tetap yang                   for all qualified permanent employees. The
      memenuhi syarat. Imbalan tersebut akan                            benefits will be paid at the time the employee
      dibayarkan pada saat karyawan pensiun, cacat                      retires, is permanently disabled or is terminated.
      tetap atau diberhentikan.




                                                         - 79 -
Page 334
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                            PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                           For the Years Ended
31 Desember 2025 dan 2024                                                         December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                         (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                             unless Otherwise Stated)


    Grup telah menunjuk PT Asuransi Simas Jiwa,                    The Group has appointed PT Asuransi Simas
    pihak berelasi (Catatan 42), untuk mengelola                   Jiwa, a related party (Note 42), to manage the
    program pensiun tersebut melalui Dana Pensiun                  pension program through the Simas Jiwa
    Lembaga Keuangan (DPLK) Simas Jiwa, yang                       Financial Institution Pension Fund, the
    peraturannya telah disahkan menurut Keputusan                  regulation of which was approved according to
    Dewan Komisioner Otoritas Jasa Keuangan                        Decision of the Financial Service Authority
    No. KEP-20/NB.01/2021 tanggal 12 Maret 2021                    Commissioner Board No. KEP-20/NB.01/2021
    mengenai Pengesahan atas Peraturan Dana                        dated March 12, 2021 concerning Ratification of
    Pensiun dari DPLK Simas Jiwa.                                  the Pension Fund Regulation from the Simas
                                                                   Jiwa Financial Institution Pension Fund.

    Perhitungan aktuaria terakhir atas liabilitas                  The latest actuarial valuation report, dated
    imbalan kerja jangka panjang dilakukan oleh                    February 6, 2026, on the long-term employee
    KKA Riana & Rekan, aktuaris independen,                        benefits liability was from KKA Riana & Rekan,
    tertanggal 6 Februari 2026.                                    an independent actuary.

    Jumlah karyawan Grup yang berhak atas                          Number of eligible employees is 677 and 699 in
    imbalan kerja jangka panjang tersebut                          2025 and 2024, respectively.
    masing-masing sebanyak 677 dan 699 pada
    tahun 2025 dan 2024.

    Liabilitas yang disajikan pada laporan posisi                  The liabilities amount included in the
    keuangan konsolidasian sehubungan dengan                       consolidated statement of financial position
    program imbalan pasti adalah sebagai berikut:                  arising from the Group’s obligation in respect of
                                                                   its defined benefits plans follows:

                                                2025                2024

                                                                                   Present value of funded
     Nilai kini kewajiban imbalan pasti       91.291.523.912     95.981.228.426      defined-benefit
     Nilai wajar aset program                (11.137.658.962)   (10.235.421.972)   Fair value of plan assets

     Jumlah liabilitas kewajiban imbalan                                           Total long-term employee
       kerja jangka panjang - bersih         80.153.864.950      85.745.806.454      benefits liability - net

    Jumlah-jumlah yang diakui di laporan laba                      Amounts recognized in the consolidated
    rugi dan penghasilan komprehensif lain                         statements of profit or loss and other
    konsolidasian sehubungan dengan imbalan pasti                  comprehensive income in respect of this benefit
    adalah sebagai berikut:                                        plans follows:

                                                2025                2024
     Biaya jasa kini                           9.000.047.358      8.575.354.640    Current service costs
     Penghasilan jasa lalu                    (4.705.352.866)      (253.260.145)   Past service income
     Beban bunga neto                          5.186.607.594      5.004.242.049    Net interest expense
     Jumlah biaya imbalan pasti                                                    Subtotal of defined benefit costs
       yang diakui di laba rugi               9.481.302.086      13.326.336.544      recognized in profit or loss
     Biaya terminasi                                      -          49.735.000    Termination cost
     Komponen biaya imbalan pasti                                                  Components of defined benefit costs
       yang diakui di laba rugi               9.481.302.086      13.376.071.544      recognized in profit or loss
     Pengukuran kembali liabilitas imbalan                                         Remeasurement of the defined
       pasti - kerugian aktuarial                                                    benefits liability - actuarial loss
       diakui dalam penghasilan                                                      recognized in other
       komprehensif lain                      3.946.992.696       3.377.714.777      comprehensive income

     Jumlah                                  13.428.294.782      16.753.786.321    Total


    Pada tahun 2025 dan 2024, beban imbalan kerja                  In 2025 and 2024, long-term employee benefits
    jangka      panjang    masing-masing sebesar                   expense amounting to Rp 12,917,385,781 and
    Rp 12.917.385.781 dan Rp 13.398.444.291                        Rp 13,398,444,291, respectively, is included as
    disajikan sebagai bagian dari akun “Beban                      part of “General and administrative expenses”
    umum dan administrasi” (Catatan 35) dan                        (Note 35) and income amounting to
    sisanya penghasilan masing-masing sebesar                      Rp 3,436,083,695 and Rp 22,372,747,
    Rp 3.436.083.695 dan Rp 22.372.747 disajikan                   respectively, included in “Other income
    sebagai bagian dari “Penghasilan (beban)                       (expenses)” in profit or loss.
    lain-lain” pada laba rugi.


                                                       - 80 -
Page 335
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                   PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                  For the Years Ended
31 Desember 2025 dan 2024                                                                December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                    unless Otherwise Stated)


    Pengukuran kembali atas liabilitas imbalan pasti                       The remeasurement of the net defined benfit
    diakui dalam penghasilan komprehensif lain.                            liability is included in other comprehensive
                                                                           income.

    Mutasi liabilitas imbalan kerja jangka panjang -                       Movements of long-term employee benefits
    bersih yang diakui di laporan posisi keuangan                          liability - net recognized in the consolidated
    konsolidasian adalah sebagai berikut:                                  statements of financial position follows:

                                                     2025                    2024

     Saldo awal tahun                             85.745.806.454         78.523.850.676     Balance at the beginning of the year
     Beban imbalan kerja jangka panjang                                                     Long-term employee benefits expense
       tahun berjalan                               9.481.302.086        13.376.071.544       during the year
     Pembayaran terminasi                                       -           (49.735.000)    Termination payment
     Pembayaran selama tahun berjalan              (4.635.271.800)       (2.592.951.325)    Benefit payments during the year
     Iuran Grup                                   (14.384.964.486)       (6.889.144.218)    The Group's contribution
     Pengukuran kembali liabilitas imbalan                                                  Remeasurement of the defined
       pasti                                       3.946.992.696           3.377.714.777      benefits liability
     Saldo akhir tahun                            80.153.864.950         85.745.806.454     Balance at the end of the year

    Mutasi nilai wajar aset program adalah sebagai                         Movement of fair value of plan assets follows:
    berikut:

                                                     2025                    2024

     Saldo awal tahun                              10.235.421.972          9.648.473.762    Balance at the beginning of the year
     Pendapatan bunga                                 716.479.539            728.026.586    Interest income
     Kontribusi pemberi kerja                      14.384.964.486          6.889.144.218    Contribution from the employer
     Pembayaran selama tahun berjalan             (14.384.964.486)        (4.614.933.692)   Benefit payments during the year
     Keuntungan (kerugian) pengukuran kembali -                                             Remeasurement gain (loss) -
      imbal hasil aset program                       185.757.451          (2.415.288.902)     return on plan assets

     Saldo akhir tahun                            11.137.658.962         10.235.421.972     Balance at the end of the year


    Porsi terbesar aset investasi ditempatkan pada                         The largest proportion of investment assets are
    instrumen pendapatan tetap, meskipun Grup                              invested in fixed income instrument, although
    juga berinvestasi pada pasar uang. Grup                                the Group also invest in money market
    meyakini bahwa instrumen pendapatan tetap                              instruments. The Group believes that fixed
    memberikan imbal hasil yang paling baik dalam                          income instrument offers the best returns over
    jangka panjang pada tingkatan risiko yang dapat                        the long term with acceptable level of risk.
    diterima.

    Asumsi-asumsi aktuarial utama yang digunakan                           Principal assumptions used in the valuation of
    dalam perhitungan imbalan kerja jangka panjang                         the long-term employee benefits follows:
    adalah sebagai berikut:

                                                     2025                    2024

     Tingkat diskonto                                6,50%                    7,00%         Discount rate
     Tingkat kenaikan gaji                           7,00%                    7,00%         Future salary increases
     Tingkat perputaran karyawan                         2,88% per tahun sampai             Level of employee turnover
                                                          dengan usia 35 tahun,
                                                           kemudian menurun
                                                           secara linier menjadi
                                                         0% pada usia 55 tahun/
                                                         2.88% per annum until
                                                          age 35, then decrease
                                                       linearly to 0% until age 55




                                                            - 81 -
Page 336
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                       PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                      For the Years Ended
31 Desember 2025 dan 2024                                                                    December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                    (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                        unless Otherwise Stated)


      Analisa sensitivitas liabilitas imbalan pasti di                           The sensitivity analysis on the defined benefits
      bawah ini ditentukan berdasarkan kemungkinan                               liability set out below have been determined
      perubahan asumsi yang terjadi pada akhir                                   based on reasonably possible changes of the
      periode pelaporan, dengan asumsi lainnya                                   respective assumptions occurring at the end of
      dianggap tetap:                                                            the reporting period, while holding all other
                                                                                 assumptions constant:

                                                                       2025
                                        Dampak Kenaikan (Penurunan) Terhadap Liabilitas Imbalan Pasti/
                                            Impact of Increase (Decrease) on Defined Benefit Liability
                                   Perubahan asumsi/             Kenaikan asumsi/          Penurunan asumsi/
                                 Change in Assumptions       Increase in Assumptions   Decrease in Assumptions

      Tingkat diskonto                      1%                       (5.557.914.250)                6.187.156.302     Discount rate
      Tingkat pertumbuhan gaji              1%                        6.520.735.056                (5.957.012.527)    Salary growth rate


                                                                        2024
                                         Dampak Kenaikan (Penurunan) Terhadap Liabilitas Imbalan Pasti/
                                             Impact of Increase (Decrease) on Defined Benefit Liability
                                    Perubahan asumsi/             Kenaikan asumsi/          Penurunan asumsi/
                                  Change in Assumptions       Increase in Assumptions   Decrease in Assumptions

      Tingkat diskonto                      1%                        (5.114.154.214)               5.675.010.280      Discount rate
      Tingkat pertumbuhan gaji              1%                         6.031.279.723               (5.527.257.540)     Salary growth rate



37.   Pendapatan Bunga dan Investasi                                      37.    Interest and Investment Income

                                                          2025                      2024

      Pendapatan bunga atas:                                                                         Interest income from:
       Deposito berjangka                            135.349.894.128            123.550.060.757        Time deposits
       Jasa giro                                       3.256.437.587              4.136.966.070        Current accounts
       Pinjaman                                           14.775.000                          -        Loan
      Amortisasi dampak perdiskontoan                                                                Amortization of effect of discounting
       aset keuangan                                      294.857.312               425.632.329        of financial assets

      Jumlah                                         138.915.964.027            128.112.659.156      Total



38.   Beban Bunga                                                         38.    Interest Expense

                                                          2025                      2024

      Beban bunga atas liabilitas kontrak                                                            Interest expense on contract liabilities
        (Catatan 22)                                 100.785.251.803            123.573.841.175        (Note 22)
      Amortisasi dampak pendiskontoan                                                                Amortization of effect of discounting
        liabilitas keuangan (Catatan 21)                3.460.951.550             2.354.680.215        financial liabilities (Note 21)
      Liabilitas sewa (Catatan 25)                        318.356.060               101.966.283      Lease liabilities (Note 25)

      Jumlah                                         104.564.559.413            126.030.487.673      Total



39.   Lain-lain – Bersih                                                  39.    Others – Net

                                                          2025                      2024

      Jasa manajemen (Catatan 42)                       9.484.694.153             9.827.697.956       Management fees (Note 42)
      Kerugian dari kegiatan                                                                          Loss from estate
        pengelolaan - bersih                                                                            management - net
        (Catatan 14, 15 dan 16)                       (32.381.145.888)          (32.572.268.128)        (Notes 14, 15 and 16)
      Lain-lain - bersih                              (31.742.902.116)           13.407.167.321       Others - net
      Jumlah                                          (54.639.353.851)           (9.337.402.851)      Total




                                                                 - 82 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                   For the Years Ended
31 Desember 2025 dan 2024                                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


40.   Perpajakan                                                       40.     Taxation

      a.   Pajak Kini                                                          a.    Current Tax

           Rekonsiliasi antara laba sebelum pajak                                    A reconciliation between profit before tax
           menurut laporan laba rugi dan penghasilan                                 per consolidated statements of profit or
           komprehensif lain konsolidasian dengan rugi                               loss and other comprehensive income and
           fiskal adalah sebagai berikut:                                            fiscal loss follows:

                                                       2025                         2024

           Laba sebelum pajak menurut                                                                Profit before tax per consolidated
             laporan laba rugi dan penghasilan                                                         statements of profit or loss and
             komprehensif lain konsolidasian       624.388.890.092           1.377.072.345.311         other comprehensive income
           Ditambah beban pajak final Perusahaan    10.290.234.202              11.047.082.364       Add final tax expense of the Company
           Penyesuaian untuk beban (pendapatan)                                                      Add (deduct) expenses (income)
             yang bersifat final - bersih          (124.663.754.103)       (162.848.873.080)           already subjected to final tax - net
           Laba sebelum pajak                       510.015.370.191       1.225.270.554.595          Profit before tax
           Laba entitas anak sebelum pajak         (549.636.543.863)     (1.262.596.717.721)         Profit before tax of the subsidiaries
           Rugi Perusahaan sebelum pajak            (39.621.173.672)           (37.326.163.126)      Loss before tax of the Company
           Perbedaan temporer:                                                                       Temporary differences:
                                                                                                       Difference between fiscal and
             Penyusutan                                 (94.543.392)                (98.551.424)         commercial depreciation
             Beban imbalan kerja jangka                                                                Long-term employee benefits
               panjang - bersih                       1.089.064.471             1.284.026.970            expense - net
             Jumlah                                     994.521.079             1.185.475.546          Total
           Perbedaan tetap:                                                                          Permanent differences:
            Jamuan dan sumbangan                       348.142.780                  418.649.460       Representation and donations
            Beban bunga                                204.760.310                   56.732.334       Interest expense
            Cadangan (pemulihan) penurunan                                                            Allowance for (recoveries from)
               nilai piutang                            (79.280.192)                 10.382.792         impairment
                                                                                                      Gain on sale of property and
             Keuntungan penjualan aset tetap           (340.225.226)                            -       equipment
             Jumlah                                    133.397.672                  485.764.586        Total
           Rugi fiskal                              (38.493.254.921)           (35.654.922.994)      Fiscal loss
                                                                                                     Fiscal losses carried forward from
           Rugi fiskal tahun lalu:                                                                     prior years:
            2024                                    (35.654.922.994)                         -         2024
            2023                                    (31.046.877.282)           (31.046.877.282)        2023
            2021                                     (2.617.967.537)            (2.617.967.537)        2021
            2020                                    (19.971.382.145)           (19.971.382.145)        2020
           Akumulasi rugi fiskal                   (127.784.404.879)           (89.291.149.958)      Accumulated fiscal losses



           Rincian beban pajak kini dan utang pajak                                  The details of current tax expense and
           adalah sebagai berikut:                                                   taxes payable follows:

                                                         2025                       2024

           Entitas anak                                                                             Subsidiaries
             PT Royal Oriental                          328.619.060              416.306.440          PT Royal Oriental
             PT Putra Alvita Pratama                    316.414.120              270.762.140          PT Putra Alvita Pratama
             PT Phinisindo Zamrud Nusantara             134.513.340              656.644.066          PT Phinisindo Zamrud Nusantara
             PT Kembangan Permai Development             15.498.670               49.986.757          PT Kembangan Permai Development
             PT Mustika Karya Sejati                        591.285                5.067.513          PT Mustika Karya Sejati
             PT Perwita Margasakti                                -              142.312.060          PT Perwita Margasakti
           Jumlah                                       795.636.475            1.541.078.976        Total
           Pajak penghasilan dibayar dimuka                                                         Less prepaid income taxes
             Perusahaan                               3.831.927.751            3.369.025.580          The Company
             Entitas anak                             2.644.137.168            2.336.390.456          Subsidiaries

           Pajak dibayar dimuka                      (5.680.428.444)          (4.164.337.060)       Prepaid taxes




                                                           - 83 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                   For the Years Ended
31 Desember 2025 dan 2024                                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)

                                                           2025                 2024

          Terdiri dari:                                                                       Details:
            Pajak dibayar dimuka (Catatan 10)                                                  Prepaid taxes (Note 10)
              Perusahaan                              (3.831.927.751)       (3.369.025.580)       The Company
              Entitas anak                            (1.956.751.035)       (1.333.982.567)       Subsidiaries
            Utang pajak (Catatan 19)                                                           Taxes payable (Note 19)
              Entitas anak                              108.250.342            538.671.087        Subsidiaries

            Jumlah                                    (5.680.428.444)       (4.164.337.060)     Total



    Rugi fiskal dapat dimanfaatkan melalui                                     According to tax regulations, fiscal loss can be
    kompensasi terhadap laba kena pajak dalam                                  offset against the taxable income immediately
    masa lima (5) tahun sejak timbulnya rugi                                   within a period of five (5) years after such
    fiskal.  Rugi       fiskal   tahun     2020                                fiscal loss was incurred. Accordingly, the tax
    sebesar Rp 19.971.382.145 berakhir masa                                    benefit from fiscal loss of Rp 19,971,382,145
    kompensasinya setelah 31 Desember 2025.                                    in 2020 has already expired after
                                                                               December 31, 2025.

    Rekonsiliasi antara beban pajak yang dihitung                              A reconciliation between the total tax expense
    dengan menggunakan tarif pajak yang berlaku                                and the amounts computed by applying the
    atas laba akuntansi sebelum pajak penghasilan                              effective tax rate to profit before tax per
    tidak final dengan beban pajak penghasilan                                 consolidated statements profit or loss and
    seperti yang tercantum dalam laporan laba                                  other comprehensive income follows:
    rugi dan penghasilan komprehensif lain
    konsolidasian adalah sebagai berikut:

                                                    2025                      2024

    Laba sebelum pajak menurut                                                                Profit before tax per consolidated
      laporan laba rugi dan penghasilan                                                         statements of profit or loss and
      komprehensif lain konsolidasian           624.388.890.092         1.377.072.345.311       other comprehensive income
    Ditambah beban pajak final Perusahaan        10.290.234.202            11.047.082.364     Add final tax expense of the Company
    Penyesuaian untuk beban (pendapatan)                                                      Add (deduct) expenses (income)
      yang pajaknya final                       (124.663.754.103)        (162.848.873.080)      already subjected to final tax
    Laba sebelum pajak                           510.015.370.191         1.225.270.554.595    Profit before tax
    Laba entitas anak sebelum pajak             (549.636.543.863)       (1.262.596.717.721)   Profit before tax of subsidiaries

    Rugi Perusahaan sebelum pajak                (39.621.173.672)         (37.326.163.126)    Loss before tax of the Company

    Penghasilan pajak tidak final                                                             Nonfinal tax benefit at effective
     dengan tarif pajak yang berlaku              (8.716.658.207)           (8.211.755.887)    tax rate

    Pengaruh pajak atas perbedaan tetap:                                                      Tax effect of permanent differences:
     Jamuan dan sumbangan                            76.591.412                92.102.881       Representation and donations
     Beban bunga                                     45.047.268                12.481.113       Interest expense
     Cadangan (pemulihan) penurunan                                                             Allowance for (recoveries from)
       nilai piutang                                 (17.441.642)               2.284.214         impairment
                                                                                                Gain on sale of property and
      Keuntungan penjualan aset tetap                (74.849.550)                       -         equipment
      Jumlah                                          29.347.488              106.868.208       Total
    Penghasilan pajak tidak final                 (8.687.310.719)           (8.104.887.679)     Nonfinal tax benefit
    Estimasi rugi fiskal yang tidak                                                             Estimated unrecoverable deferred
      terpulihkan                                  8.468.516.082            7.844.083.059         tax asset on fiscal loss
                                                                                                Unrecognized deferred tax on
    Pajak tangguhan dari perbedaan                                                                current year's temporary
      temporer yang tidak diakui                    218.794.637               260.804.620         differences
    Jumlah beban pajak Perusahaan                             -                         -       Total tax expense of the Company
    Jumlah beban pajak entitas anak                 795.636.475             1.541.078.976       Total tax expense of the subsidiaries

    Jumlah Beban Pajak                              795.636.475             1.541.078.976       Total Tax Expense




                                                            - 84 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                     PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                    For the Years Ended
31 Desember 2025 dan 2024                                                                  December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                  (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                      unless Otherwise Stated)


    b.   Pajak Final                                                        b.      Final Tax

         Perhitungan beban pajak final dan pajak                                    The final tax expense and prepaid taxes
         dibayar dimuka adalah sebagai berikut:                                     are computed as follows:

                                                          2025                     2024

         Pajak penghasilan final:                                                                Final income tax:
          Perusahaan                                                                               Company
             Penjualan                                                                               Sales
               2,5% x Rp 32.149.553.966 tahun 2025;      803.738.849                         -          2.5% x Rp 32,149,553,966 in 2025;
               2,5% x Rp 67.849.735.127 tahun 2024                 -             1.696.243.378          2.5% x Rp 67,849,735,127 in 2024
             Sewa dan jasa pelayanan                                                                 Rental and service charges
               2,5% x Rp 2.080.762.118 dan                                                              2.5% x Rp 2,080,762,118 and
               10% x Rp 94.344.762.966 tahun 2025;      9.486.495.353                        -          10% x Rp 94,344,762,966 in 2025;
               2,5% x Rp 3.198.148.065 dan                                                              2.5% x Rp 3,198,148,065 and
               10% x Rp 92.708.852.847 tahun 2024                   -            9.350.838.986          10% x Rp 92,708,852,847 in 2024
          Jumlah                                       10.290.234.202        11.047.082.364        Subtotal

          Entitas anak                                                                             Subsidiaries
           PT Royal Oriental                           30.458.473.493        30.076.838.622         PT Royal Oriental
           PT Putra Alvita Pratama                     25.689.833.383        51.281.699.071         PT Putra Alvita Pratama
           PT Duta Semesta Mas                         15.263.292.753        18.716.051.314         PT Duta Semesta Mas
           PT Wijaya Pratama Raya                      15.099.557.145         9.280.236.800         PT Wijaya Pratama Raya
           PT Anekagriya Buminusa                       4.854.800.014             6.765.677         PT Anekagriya Buminusa
           PT Itomas Kembangan Perdana                  3.070.291.517         8.541.331.092         PT Itomas Kembangan Perdana
           PT Putra Prabukarya                          2.856.966.069             3.561.086         PT Putra Prabukarya
           PT Prima Sehati                              2.135.999.102        14.334.758.456         PT Prima Sehati
           PT Perwita Margasakti                        1.909.813.458         3.994.299.264         PT Perwita Margasakti
           PT Mekanusa Cipta                            1.824.976.223           993.880.541         PT Mekanusa Cipta
           PT Sinarwijaya Ekapratista                   1.685.477.053           717.702.922         PT Sinarwijaya Ekapratista
           PT Phinisindo Zamrud Nusantara               1.434.805.129         1.532.547.430         PT Phinisindo Zamrud Nusantara
           PT Mustika Karya Sejati                        684.266.035         1.069.181.301         PT Mustika Karya Sejati
           PT Misaya Properindo                           575.466.916         1.882.814.115         PT Misaya Properindo
           PT Saranapapan Ekasejati                       167.707.768           141.539.261         PT Saranapapan Ekasejati
           PT Kurniasubur Permai                          105.740.997             6.684.685         PT Kurniasubur Permai
           PT Kembangan Permai Development                  7.531.649           618.861.271         PT Kembangan Permai Development
           PT Mitrakarya Multiguna                          6.434.375                     -         PT Mitrakarya Multiguna
           PT Kanaka Grahaasri                                337.977             1.056.163         PT Kanaka Grahaasri
            Jumlah                                    107.831.771.056       143.199.809.071          Subtotal
         Jumlah                                       118.122.005.258       154.246.891.435        Total
         Dikurangi pajak penghasilan
           dibayar dimuka                                                                        Less prepaid income taxes
           Perusahaan                                  19.347.047.820        19.019.215.624        Company
           Entitas anak                               164.318.416.565       202.323.880.924        Subsidiaries
           Jumlah                                     183.665.464.385       221.343.096.548        Total

         Pajak dibayar dimuka                         (65.543.459.127)      (67.096.205.113)     Prepaid taxes
         Terdiri dari:                                                                           Details:
           Perusahaan                                                                             Company
             Pasal 4 ayat 2 (6% dan 10%)                8.759.691.794            7.606.543.885       Article 4 paragraph 2 (6% and 10%)
             Pasal 4 ayat 2 (2,5%)                        297.121.824              365.589.375       Article 4 paragraph 2 (2.5%)
           Entitas anak                                                                           Subsidiaries
             Pasal 4 ayat 2 (6% dan 10%)               20.054.150.804        20.847.293.939          Article 4 paragraph 2 (6% and 10%)
             Pasal 4 ayat 2 (2,5%)                     36.432.494.705        38.276.777.914          Article 4 paragraph 2 (2.5%)
          Jumlah (Catatan 10)                          65.543.459.127        67.096.205.113        Total (Note 10)

    c.   Surat Ketetapan Pajak                                              c.      Tax Assessment Letter

         Pada tanggal 18 November 2025,                                             On November 18, 2025, the Company
         Perusahaan menerima Surat Ketetapan                                        received Tax Assessment Overpayment
         Pajak Lebih Bayar atas Pajak Badan, Surat                                  Letter for Corporate Income Tax, Tax
         Ketetapan Pajak Kurang Bayar pajak                                         Assessment Underpayment Letter for
         penghasilan pasal 4 ayat 2, pasal 23 dan                                   income tax article 4 paragraph 2, article 23
         pajak pertambahan nilai untuk tahun fiskal                                 and value added tax for fiscal year 2024
         2024, yang akan diterima oleh Perusahaan                                   which will be received by the Company
         sebesar Rp 77.565.171.                                                     amounting to Rp 77,565,171.



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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                   For the Years Ended
31 Desember 2025 dan 2024                                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                     unless Otherwise Stated)


41.   Laba Per Saham Dasar                                             41.   Basic Earnings Per Share

      Perhitungan laba bersih per saham dasar adalah                         The computation of basic earnings per share
      sebagai berikut:                                                       follows:

                                                       2025                   2024

      Jumlah laba yang digunakan dalam                                                         Profit for computation of basic earnings
        perhitungan laba per saham dasar:                                                        per share:
           Jumlah laba bersih yang diatribusikan
             kepada pemilik entitas induk                                                        Net profit attributable to owners
             (pemegang saham Perusahaan)           422.053.623.230       851.769.071.955          of the Company
                                                                                               Weighted average number of shares
      Jumlah rata-rata tertimbang saham              1.850.000.000           1.850.000.000      outstanding
      Laba per saham dasar                                    228,14                  460,42   Basic earnings per share



42.   Sifat dan Transaksi Hubungan Berelasi                            42.   Nature of Relationship and Transactions
                                                                             with Related Parties

      Rincian sifat hubungan dan jenis transaksi yang                        The details of the nature of relationship and the
      material dengan pihak berelasi adalah sebagai                          significant transactions with related parties
      berikut:                                                               follows:

      Sifat Pihak Berelasi                                                   Nature of Relationship

      a. Pemegang         saham Perusahaan yaitu                             a.   PT Bumi Serpong Damai Tbk and
             PT Bumi Serpong Damai Tbk dan PT Sinar                               PT Sinar Mas Tunggal are stockholders of
             Mas Tunggal.                                                         the Company.

      b. Perusahaan yang sebagian pemegang                                   b.   Related parties which have partly the same
             saham secara langsung maupun tidak                                   stockholders, directly or indirectly, as that
             langsung sama dengan Grup yaitu:                                     of the Group follows:

             •     PT Arara Abadi                                                 •      PT Puradelta Lestari Tbk
             •     PT Asuransi Sinar Mas                                          •      PT SMPlus Digital Investama
             •     PT Asuransi Simas Jiwa                                         •      PT SMPlus Sentra Data Persada
             •     PT Bank Sinarmas Tbk                                           •      PT Sinarmas Asset Management
             •     PT Borneo Indobara                                             •      PT Sinarmas Sekuritas
             •     PT Daya Anugerah Sejati Utama                                  •      PT Sinartama Gunita
             •     PT Daya Sentosa Sakti Renewables                               •      PT Sinarmas Rendranusa
             •     PT Dian Swastatika Sentosa Tbk                                 •      PT Sinarmas Tjipta
             •     PT DSSE Energi Mas Utama                                       •      PT Sinar Mas Agro Resources and
             •     PT DSSP Power Kendari                                                 Technology Tbk
             •     PT DSSP Power Sumsel                                           •      PT Smart Telecom
             •     PT DSST Mas Gemilang                                           •      Sinarmas Land (HK) Limited
             •     PT Eka Mas Republik                                            •      PT XLSMART Telecom Sejahtera Tbk
             •     PT Golden Energy Mines Tbk                                            (dahulu/formerly PT Smart Telecom
             •     PT Ivo Mas Tunggal                                                    dan/and PT Smartfren Telecom Tbk)

      c.     Pada tanggal 31 Desember 2024,                                  c.   As of December 31, 2024, PT Cakrawala
             PT Cakrawala Mega Indah, PT Indah Kiat                               Mega Indah, PT Indah Kiat Pulp & Paper
             Pulp & Paper Tbk, PT Lontar Papyrus Pulp                             Tbk, PT Lontar Papyrus Pulp & Paper
             & Paper Industry, PT Pabrik Kertas Tjiwi                             Industry, PT Pabrik Kertas Tjiwi Kimia Tbk
             Kimia Tbk dan PT Pindo Deli Pulp and Paper                           and PT Pindo Deli Pulp and Paper Mills are
             Mills adalah pihak berelasi karena hubungan                          related parties due to family relationship
             keluarga dengan pemegang saham akhir,                                with the ultimate shareholders, but do not
             tetapi tidak memiliki pengaruh signifikan,                           have significant influence, control and
             kesamaan pengendalian dan kepemilikan.                               common ownership.




                                                              - 86 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                               PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                           Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                              For the Years Ended
31 Desember 2025 dan 2024                                                                            December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                            (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                unless Otherwise Stated)


    d. Entitas yang dicatat dengan menggunakan                                            d.   Investments in BKS Pasar Pagi – ITC
         metode ekuitas yaitu BKS Pasar Pagi – ITC                                             Mangga Dua, PT Citraagung Tirta Jatim,
         Mangga Dua, PT Citraagung Tirta Jatim,                                                PT Bumi Paramudita Mas, PT Matra
         PT Bumi Paramudita Mas, PT Matra                                                      Olahcipta, PT Binamaju Mitra Sejati,
         Olahcipta, PT Binamaju Mitra Sejati,                                                  PT Keikyu Itomas Indonesia, PT Sahabat
         PT Keikyu Itomas Indonesia, PT Sahabat                                                Kota Wisata, PT Sahabat Duta Wisata and
         Kota Wisata, PT Sahabat Duta Wisata dan                                               PT Duti Diamond Development, are
         PT Duti Diamond Development.                                                          accounted for using the equity method.

    Transaksi Pihak Berelasi                                                              Transactions with Related Parties

    a.   Akun-akun berikut merupakan transaksi                                            a.   The accounts involving transactions with
         dengan pihak berelasi:                                                                related parties follows:
                                                                                                Persentase Terhadap
                                                                                                    Jumlah Aset/
                                                                                                   Percentage to
                                                              Jumlah/Total                          Total Assets
                                                     2025                      2024             2025             2024
                                                                                                 %                %

         Aset                                                                                                           Assets
         Kas dan setara kas                                                                                             Cash and cash equivalents
           Bank                                                                                                           Cash in banks
               PT Bank Sinarmas Tbk                                                                                           PT Bank Sinarmas Tbk
                  Rupiah                           10.405.961.119             7.569.073.256     0,06            0,05             Rupiah

         Piutang usaha                                                                                                  Trade accounts receivable
            PT Sinar Mas Agro Resources and                                                                                PT Sinar Mas Agro Resources
               Technology Tbk                       2.060.758.560             2.054.711.697     0,01            0,01          and Technology Tbk
            PT Borneo Indobara                        561.086.721             3.382.681.444     0,00            0,02       PT Borneo Indobara
            PT XLSMART Telecom Sejahtera Tbk                                                                               PT XLSMART Telecom Sejahtera Tbk
               (dahulu PT Smart Telecom dan                                                                                   (formerly PT Smart Telecom and
               PT Smartfren Telecom Tbk)             450.818.156                          -     0,00              -           PT Smartfren Telecom Tbk)
            PT Sinar Mas Tjipta                      207.175.966              3.768.501.481     0,00            0,03       PT Sinar Mas Tjipta
            PT Golden Energy Mines Tbk               131.896.679              1.002.038.637     0,00            0,01       PT Golden Energy Mines Tbk
            PT Sinarmas Asset Management              12.433.277                204.785.112     0,00            0,00       PT Sinarmas Asset Management
            Lain-lain (masing-masing di bawah
               Rp 100 juta)                          329.995.642               267.443.981      0,00            0,00      Others (below Rp 100 million each)

           Jumlah                                   3.754.165.000            10.680.162.352     0,01            0,07      Total

         Piutang lain-lain                                                                                              Other accounts receivable
            PT Sinar Mas Tunggal                     342.656.780               342.656.780      0,00            0,00      PT Sinar Mas Tunggal

         Biaya dibayar dimuka                                                                                           Prepaid expenses
            PT Asuransi Sinar Mas                           93.749                    93.749    0,00            0,00       PT Asuransi Sinar Mas

         Investasi dalam saham                                                                                          Investments in shares of stock
            Metode Ekuitas:                                                                                                Equity method:
            Entitas Asosiasi                                                                                               Associates
                PT Sahabat Kota Wisata            221.172.915.835        231.361.218.436        1,37            1,61           PT Sahabat Kota Wisata
                PT Sahabat Duta Wisata            177.437.466.076        160.525.932.869        1,10            1,12           PT Sahabat Duta Wisata
                PT Binamaju Mitra Sejati           79.057.333.816         66.142.467.793        0,49            0,46           PT Binamaju Mitra Sejati
                PT Matra Olahcipta                 57.892.485.318         59.281.775.952        0,36            0,41           PT Matra Olahcipta
                PT Keikyu Itomas Indonesia         17.013.066.358         60.450.584.789        0,11            0,42           PT Keikyu Itomas Indonesia
                PT Citraagung Tirta Jatim           7.968.838.581          6.965.837.250        0,05            0,05           PT Citraagung Tirta Jatim
                PT Bumi Paramudita Mas                        707                    701        0,00            0,00           PT Bumi Paramudita Mas
            Ventura Bersama                                                                                                Joint Ventures
                PT Duti Diamond Development        18.068.668.302            18.307.344.734     0,11            0,13           PT Duti Diamond Development
                BKS Pasar Pagi - ITC Mangga Dua     5.212.950.823             4.340.365.816     0,03            0,03           BKS Pasar Pagi - ITC Mangga Dua

           Jumlah                                 583.823.725.816        607.375.528.340        3,62            4,23      Total




                                                                     - 87 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                  PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                              Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                 For the Years Ended
31 Desember 2025 dan 2024                                                                               December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                               (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                   unless Otherwise Stated)

                                                                                             Persentase Terhadap
                                                                                               Jumlah Liabilitas/
                                                           Jumlah/Total                   Percentage to Total Liabilities
                                                    2025                    2024             2025              2024
                                                                                              %                  %
         Liabilitas                                                                                                         Liabilities
         Utang usaha                                                                                                        Trade account payable
            PT Samakta Mitra                      5.858.428.450                       -      0,24                 -            PT Samakta Mitra

         Setoran jaminan                                                                                                    Security deposits
            PT Sinar Mas Agro Resources and                                                                                   PT Sinar Mas Agro Resources and
               Technology Tbk                    18.716.409.736       19.130.035.547         0,76               0,77              Technology Tbk
            PT Sinarmas Asset Management          7.088.210.117        7.088.210.116         0,29               0,28          PT Sinarmas Asset Management
            PT Sinarmas Sekuritas                 6.451.293.395        6.451.293.397         0,26               0,26          PT Sinarmas Sekuritas
            PT Borneo Indobara                    3.457.965.778        3.457.965.778         0,14               0,14          PT Borneo Indobara
            PT Bank Sinarmas Tbk                  3.056.988.501        3.056.988.502         0,12               0,12          PT Bank Sinarmas Tbk
            PT Eka Mas Republik                   1.804.126.812        1.528.120.512         0,07               0,06          PT Eka Mas Republik
            PT Sinarmas Tjipta                    1.723.568.948        1.641.703.500         0,07               0,07          PT Sinarmas Tjipta
            PT Dian Swastatika Sentosa Tbk        1.201.279.900          948.215.680         0,05               0,04          PT Dian Swastatika Sentosa Tbk
            PT XLSMART Telecom Sejahtera Tbk      1.195.353.558                    -         0,05                 -           PT XLSMART Telecom Sejahtera Tbk
            PT SMPlus Digital Investama           1.159.429.177           22.276.000         0,05               0,00          PT SMPlus Digital Investama
            PT Ivo Mas Tunggal                      947.546.119          947.546.119         0,04               0,04          PT Ivo Mas Tunggal
            PT DSST Mas Gemilang                    880.564.410          414.949.020         0,04               0,02          PT DSST Mas Gemilang
            PT Asuransi Simas Jiwa                  731.210.664          711.276.120         0,03               0,03          PT Asuransi Simas Jiwa
            PT Daya Sentosa Sakti Renewables        709.462.000                    -         0,03                 -           PT Daya Sentosa Sakti Renewables
            PT Golden Energy Mines Tbk              635.222.280          635.222.280         0,03               0,03          PT Golden Energy Mines Tbk
            PT DSSP Power Sumsel                    632.971.720          614.389.600         0,03               0,02          PT DSSP Power Sumsel
            PT DSSP Power Kendari                   630.071.180          612.760.400         0,03               0,02          PT DSSP Power Kendari
            PT Pabrik Kertas Tjiwi Kimia Tbk                  -        2.798.128.960           -                0,11          PT Pabrik Kertas Tjiwi Kimia Tbk
            PT Pindo Deli Pulp and Paper Mills                -        1.392.648.069           -                0,06          PT Pindo Deli Pulp and Paper Mills
            PT Lontar Papyrus Pulp                                                                                            PT Lontar Papyrus Pulp
               & Paper Industry                               -        1.285.561.121            -               0,05              & Paper Industry
            PT Smart Telecom                                  -        1.189.353.558            -               0,05          PT Smart Telecom
            PT Cakrawala Mega Indah                           -          986.432.115            -               0,04          PT Cakrawala Mega Indah
            PT Indah Kiat Pulp & Paper Tbk                    -       38.079.588.717            -               1,53          PT Indah Kiat Pulp & Paper Tbk
            Lain-lain (masing-masing dibawah
               Rp 600 juta)                       3.488.323.986           4.094.223.679      0,14               0,18          Others (below Rp 600 milion each)
           Jumlah                                54.509.998.281       97.086.888.790         2,21               3,90          Total

         Liabilitas kontrak                                                                                                 Contract liabilities
            PT Keikyu Itomas Indonesia            1.904.000.000           1.904.000.000      0,08               0,08          PT Keikyu Itomas Indonesia

         Sewa diterima dimuka                                                                                               Rental advances
           PT Eka Mas Republik                    3.501.321.449           3.102.354.176      0,14               0,12          PT Eka Mas Republik
           PT Sinarmas Asset Management           3.385.437.576           1.292.395.650      0,14               0,05          PT Sinarmas Asset Management
           PT DSST Mas Gemilang                   2.968.289.162             369.459.240      0,12               0,01          PT DSST Mas Gemilang
           PT Sinarmas Sekuritas                  2.636.790.300                       -      0,11                 -           PT Sinarmas Sekuritas
           PT Dian Swastatika Sentosa Tbk         2.255.041.800           1.748.913.360      0,09               0,07          PT Dian Swastatika Sentosa Tbk
           PT DSSP Power Sumsel                   1.152.091.439           1.114.927.200      0,05               0,04          PT DSSP Power Sumsel
           PT DSSP Power Kendari                  1.073.268.360           1.038.646.800      0,04               0,04          PT DSSP Power Kendari
           PT DSSE Energi Mas Utama                 749.243.878             703.835.160      0,03               0,03          PT DSSE Energi Mas Utama
           PT SMPLUS Digital Investama              629.203.085             148.363.613      0,03               0,01          PT SMPLUS Digital Investama
           PT Smart Telecom                                   -             159.999.600        -                0,01          PT Smart Telecom
           PT Pindo Deli Pulp and Paper Mills                 -           1.029.663.880        -                0,04          PT Pindo Deli Pulp and Paper Mills
           PT Lontar Papyrus Pulp                                                                                             PT Lontar Papyrus Pulp
              & Paper Industry                                -        1.043.470.698            -               0,04              & Paper Industry
           PT Pabrik Kertas Tjiwi Kimia Tbk                   -        2.921.447.700            -               0,12          PT Pabrik Kertas Tjiwi Kimia Tbk
           PT Cakrawala Mega Indah                            -        2.587.873.020            -               0,10          PT Cakrawala Mega Indah
           PT Indah Kiat Pulp & Paper Tbk                     -       31.186.166.871            -               1,25          PT Indah Kiat Pulp & Paper Tbk
           Lain-lain (masing-masing dibawah
              Rp 600 juta)                        3.139.102.559           3.148.207.243      0,13               0,13          Others (below Rp 600 million each)
           Jumlah                                21.489.789.608       51.595.724.211         0,87               2,07          Total




                                                                     - 88 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                 PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                             Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                For the Years Ended
31 Desember 2025 dan 2024                                                                              December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                              (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                  unless Otherwise Stated)

                                                                                               Persentase Terhadap
                                                                                            Jumlah Pendapatan/Beban/
                                                                                           Percentage to Total Respective
                                                            Jumlah/Total                        Revenues/Expenses
                                                     2025                    2024              2025             2024
                                                                                                %                 %
         Pendapatan Usaha                                                                                                   Revenues
           PT Sinar Mas Agro Resources and                                                                                    PT Sinar Mas Agro Resources and
              Technology Tbk                     71.195.410.184        79.004.831.708          2,61            1,79              Technology Tbk
           PT Borneo Indobara                    13.960.679.479        13.714.106.289          0,51            0,31           PT Borneo Indobara
           PT Sinarmas Asset Management          13.402.125.527        15.381.730.426          0,49            0,35           PT Sinarmas Asset Management
           PT Eka Mas Republik                    7.091.303.600         5.841.334.816          0,26            0,13           PT Eka Mas Republik
           PT Sinarmas Tjipta                     6.744.485.071         6.691.292.078          0,25            0,15           PT Sinarmas Tjipta
           PT Sinarmas Sekuritas                  5.607.242.841         5.561.317.193          0,21            0,13           PT Sinarmas Sekuritas
           PT Dian Swastatika Sentosa Tbk         4.377.077.888         3.507.160.768          0,16            0,08           PT Dian Swastatika Sentosa Tbk
           PT SMPlus Digital Investama            3.689.511.198            42.530.500          0,13            0,00           PT SMPlus Digital Investama
           PT Golden Energy Mines Tbk             3.513.308.955         3.467.061.724          0,13            0,08           PT Golden Energy Mines Tbk
           PT Asuransi Simas Jiwa                 2.856.154.401         2.743.705.601          0,10            0,06           PT Asuransi Simas Jiwa
           PT DSSP Power Sumsel                   2.375.073.633         2.341.221.008          0,09            0,05           PT DSSP Power Sumsel
           PT DSSP Power Kendari                  2.194.190.160         2.100.893.600          0,08            0,05           PT DSSP Power Kendari
           PT Ivo Mas Tunggal                     1.796.542.716         1.759.132.716          0,07            0,04           PT Ivo Mas Tunggal
           PT SMPlus Sentra Data Persada          1.779.847.002         1.251.790.215          0,07            0,03           PT SMPlus Sentra Data Persada
           PT DSSE Energi Mas Utama               1.597.167.042         1.781.956.160          0,06            0,04           PT DSSE Energi Mas Utama
           PT DSST Mas Gemilang                   1.075.265.718         1.320.042.860          0,04            0,03           PT DSST Mas Gemilang
           PT Puradelta Lestari Tbk                 829.811.797           807.494.446          0,03            0,02           PT Puradelta Lestari Tbk
           PT XLSMART Telecom Sejahtera Tbk         825.728.114                     -          0,03              -            PT XLSMART Telecom Sejahtera Tbk
           PT Arara Abadi                           823.682.481           887.424.935          0,03            0,02           PT Arara Abadi
           PT Purimakmur Sinar Globalindo           657.391.440           488.131.880          0,02            0,01           PT Purimakmur Sinar Globalindo
           PT Cakrawala Mega Indah                            -         3.223.567.726            -             0,07           PT Cakrawala Mega Indah
           PT Pabrik Kertas Tjiwi Kimia Tbk                   -         8.311.522.065            -             0,19           PT Pabrik Kertas Tjiwi Kimia Tbk
           PT Daya Anugerah Sejati Utama                      -         1.096.931.947            -             0,02           PT Daya Anugerah Sejati Utama
           PT Smart Telecom                                   -         1.063.144.695            -             0,02           PT Smart Telecom
           PT Keikyu Itomas Indonesia                         -         1.904.000.000            -             0,04           PT Keikyu Itomas Indonesia
           PT Pindo Deli Pulp and Paper Mills                 -         1.878.776.080            -             0,04           PT Pindo Deli Pulp and Paper Mills
           PT Lontar Papyrus Pulp & Paper                                                                                     PT Lontar Papyrus Pulp & Paper
              Industry                                        -         1.844.245.262            -             0,04              Industry
           PT Indah Kiat Pulp & Paper Tbk                     -        37.938.571.256            -             0,86           PT Indah Kiat Pulp & Paper Tbk
           Lain-lain (masing-masing dibawah
              Rp 600 juta)                        2.538.452.330            2.357.796.588       0,09            0,05           Others (below Rp 600 million each)

             Jumlah                             148.930.451.577      208.311.714.542           5,45            4,71           Total

         Penghasilan (beban) lain-lain                                                                                      Other income (expenses)
           Pendapatan bunga dan investasi                                                                                     Interest and investment income
             PT Bank Sinarmas Tbk                  422.476.190              342.769.445        0,30            0,27               PT Bank Sinarmas Tbk

             Pendapatan jasa manajemen                                                                                        Management fees income
               PT Keikyu Itomas Indonesia         1.284.000.000            1.742.000.000      13,54            17,73            PT Keikyu Itomas Indonesia
               PT Citraagung Tirta Jatim            244.897.956              244.897.956       2,58             2,49            PT Citraagung Tirta Jatim

             Jumlah                               1.528.897.956            1.986.897.956      16,12            20,22          Total




        b.      Pada tanggal 17 Desember 2024,                                                       b.     On      December     17,      2024,
                PT Kurniasubur Permai, entitas anak                                                         PT Kurniasubur Permai, a subsidiary,
                dan Sinarmas Land (HK) Limited,                                                             and Sinarmas Land (HK) Limited,
                mendirikan PT Kurnia Sinergi Mas                                                            established PT Kurnia Sinergi Mas
                (Catatan 32).                                                                               (Note 32).

        c.      Grup menunjuk PT Asuransi Simas                                                      c.     The     Group   has     appointed
                Jiwa untuk mengelola program dana                                                           PT Asuransi Simas Jiwa to manage
                pensiun manfaat pasti (Catatan 36).                                                         the defined benefit pension plan
                                                                                                            (Note 36).

        d.      Pada tanggal 31 Desember 2025 dan                                                    d.     As of December 31, 2025 and 2024,
                2024, Grup mengasuransikan asetnya                                                          the Group insured their assets
                (persediaan, aset tetap dan properti                                                        (inventories, property and equipment
                investasi) kepada PT Asuransi Sinar                                                         and investment properties) with
                Mas     dengan     premi     asuransi                                                       PT Asuransi Sinar Mas, with
                masing-masing sebesar 99,99% dari                                                           insurance      premium      payments
                jumlah beban premi asuransi yang                                                            representing 99.99%, of the total
                dibayarkan (Catatan 8, 14 dan 16).                                                          insurance premiums paid (Notes 8,
                                                                                                            14 and 16).




                                                                     - 89 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                        For the Years Ended
31 Desember 2025 dan 2024                                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                          unless Otherwise Stated)


          e.    Grup memberikan kompensasi kepada                                       e.    The Group provides compensation to
                karyawan kunci. Imbalan yang                                                  the key management personnel.
                diberikan kepada Dewan Komisaris                                              The remuneration of Board of
                dan Direksi di tahun 2025 dan 2024                                            Commissioners and Directors in 2025
                adalah sebagai berikut:                                                       and 2024 follows:

                                                               2025                           2024
                                                      %                                %
                                                                                                                Salaries and other short-term
               Gaji dan imbalan kerja jangka pendek   3,32         10.473.133.440      3,96    11.627.324.430      employee benefits




43.   Tujuan dan Kebijakan Manajemen Risiko                                43.      Financial Risk Management Objectives and
      Keuangan                                                                      Policies

      Risiko-risiko utama yang timbul dari instrumen                                The main risks arising from the Group’s
      keuangan yang dimiliki Grup adalah risiko mata                                financial instruments are foreign exchange risk,
      uang asing, risiko kredit dan risiko likuiditas.                              credit risk and liquidity risk. The operational
      Kegiatan operasional Grup dijalankan secara                                   activities of the Group are managed in a
      berhati-hati dengan mengelola risiko-risiko                                   prudential manner by managing those risks to
      tersebut agar tidak menimbulkan potensi                                       minimize potential losses.
      kerugian bagi Grup.

      Direksi bertugas menentukan prinsip dasar                                     The BOD has the responsibility to determine the
      kebijakan manajemen risiko Grup secara                                        basic principles of the Group’s risk
      keseluruhan serta kebijakan pada area tertentu                                management as well as principles covering
      seperti risiko mata uang asing, risiko kredit, dan                            specific areas, such as foreign exchange risk,
      risiko likuiditas.                                                            credit risk, and liquidity risk.

      Risiko Mata Uang Asing                                                        Foreign Exchange Risk

      Risiko nilai tukar adalah risiko                    usaha                     Foreign exchange rate risk is the risk that the
      dalam nilai instrumen keuangan                      akibat                    fair value or future contractual cash flows of a
      berfluktuasinya perubahan nilai tukar.                                        financial instrument will fluctuate because of
                                                                                    changes in foreign exchange rates.

      Grup dalam melakukan kegiatan usahanya                                        The Group’s major transactions (i.e. sale,
      sebagian besar mempergunakan mata uang                                        purchases and operating expenses) are mostly
      Rupiah dalam hal transaksi penjualan,                                         denominated      in      Indonesian    currency.
      pembelian bahan baku dan beban usaha.                                         Transaction in foreign currency are only done
      Transaksi usaha dalam mata uang asing hanya                                   for special purpose, and the management
      dilakukan untuk hal-hal khusus, dan jika hal                                  regularly reviews its foreign currency exposure.
      tersebut terjadi manajemen akan melakukan
      review berkala atas eksposur mata uang asing
      tersebut.

      Eksposur aset dan liabilitas moneter Grup dalam                               The Group’s monetary assets and liabilities
      mata uang asing diungkapkan pada Catatan 47.                                  exposed to foreign exchange risk are set out in
                                                                                    Note 47.

      Pada tanggal 31 Desember 2025 dan 2024, jika                                  As of December 31, 2025 and 2024, if the
      mata uang Rupiah melemah/menguat sebesar                                      Rupiah currency had weakened/strengthened
      Rp 1.000 terhadap Dolar Amerika Serikat                                       by Rp 1,000, against the U.S. Dollar with all
      dengan variabel lain konstan, laba bersih tahun                               other variables held constant, net profit in 2025
      2025 dan 2024 akan lebih rendah/tinggi                                        and 2024 would have been lower/higher by
      masing-masing sebesar Rp 5.427.103.000 dan                                    Rp 5,427,103,000 and Rp 4,731,597,000,
      Rp 4.731.597.000.                                                             respectively.




                                                              - 90 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    Risiko Kredit                                              Credit Risk

    Risiko    kredit  timbul    dari  kemungkinan              Credit risk is the risk that the Group will incur a
    ketidakmampuan pelanggan untuk memenuhi                    loss arising from the customers or
    kewajibannya sesuai dengan syarat normal                   counterparties’ failure to fulfill their contractual
    transaksi pada saat jatuh tempo pembayaran.                obligations.

    Risiko kredit timbul dari kas dan setara kas,              Credit risk arises from cash and cash
    investasi pada surat berharga dan deposito                 equivalents, investments in shares and time
    berjangka, piutang usaha dan lain-lain.                    deposits, trade accounts receivable and other
    Manajemen menempatkan kas, deposito                        receivables. Management placed cash, time
    berjangka dan investasi surat berharga hanya               deposits and investment in shares only to banks
    pada bank dan lembaga keuangan yang                        and financial institutions which are reputable
    bereputasi baik dan terpercaya. Untuk                      and reliable. To minimize credit risk on
    meminimalisasi risiko kredit atas piutang usaha            receivable from sale of real estate properties,
    yang berasal dari penjualan properti, manajemen            management imposes fines for the late
    mengenakan        denda    atas    keterlambatan           payment and hand over the unit as the time of
    pembayaran serta melakukan serah terima unit               redemption. For leased assets, the customers
    pada saat pelunasan. Untuk penyewaan properti,             are asked to pay the rent in advance and
    pelanggan diminta membayar uang sewa di                    provide a security deposits on service charge
    muka dan memberikan uang jaminan atas                      and utilities. For the hotel rooms, management
    service charge dan utilitas. Untuk piutang kamar           are having business relationship with travel
    hotel, manajemen melakukan hubungan usaha                  agents who has the credibility, establish
    dengan pihak agen perjalanan yang memiliki                 verification policy and credit authorization.
    kredibilitas, menetapkan kebijakan verifikasi dan
    otorisasi kredit.

    Berdasarkan evaluasi tersebut pihak manajemen              Based on that evaluation, management will
    akan menentukan perkiraan jumlah yang tidak                determine the approximate uncollectible
    dapat ditagih atas piutang tersebut serta                  amount as well as determine the amount of
    menentukan pembentukan akun cadangan                       impairment losses on trade accounts
    kerugian penurunan nilai atas piutang usaha                receivable.
    tersebut.

    Tidak ada limit kredit yang dilampaui selama               No credit limits were exceeded during the
    periode pelaporan dan manajemen tidak                      reporting period, and management does not
    mengharapkan kerugian dari kegagalan pihak-                expect any losses from non-performance by
    pihak dalam melunasi utangnya.                             these counterparties.

    Lihat Catatan 6 untuk informasi jumlah piutang             Refer to Note 6 for the information regarding the
    usaha berdasarkan umur (hari) dihitung sejak               aging analysis of trade accounts receivable
    tanggal faktur.                                            from the date of invoice issuance.

    Kualitas kredit dari aset keuangan Grup berupa             The credit quality of the Group’s financial assets
    kas dan setara kas, investasi pada deposito                of cash and cash equivalents, investments in
    berjangka, piutang usaha dan lain-lain adalah              time deposits, trade accounts receivable and
    lancar, yang ditelaah dengan mengacu pada                  other receivables are current, which are
    kredibilitas dan reputasi pihak rekanan serta              examined with reference to the credibility and
    informasi    historis   mengenai    penerimaan             reputation of the partners as well as historical
    pembayaran.                                                information about the receipt of payment.




                                                   - 91 -
Page 346
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                           PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                       Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                          For the Years Ended
31 Desember 2025 dan 2024                                                                                        December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                        (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                            unless Otherwise Stated)


    Berikut adalah eksposur maksimum terhadap                                                         The table below shows the maximum exposure
    risiko kredit untuk komponen laporan posisi                                                       to credit risk for the components of consolidated
    keuangan      konsolidasian pada    tanggal                                                       statements of financial position as of
    31 Desember 2025 dan 2024:                                                                        December 31, 2025 and 2024:

                                                                   2025                                  2024

     Kas dan setara kas                                     3.530.615.838.955                   2.522.389.729.046             Cash and cash equivalents
     Investasi jangka pendek                                  207.630.559.713                     240.430.996.774             Short-term investments
     Piutang usaha - bersih                                    23.387.896.881                      22.650.924.341             Trade accounts receivable - net
     Piutang lain-lain - bersih                                75.343.881.472                      62.944.736.163             Other accounts receivable - net

     Jumlah                                                 3.836.978.177.021                   2.848.416.386.324             Total

    Risiko Likuiditas                                                                                 Liquidity Risk

    Risiko likuiditas adalah risiko kerugian yang                                                     Liquidity risk is a risk arising when the cash flow
    timbul karena Grup tidak memiliki arus kas yang                                                   position of the Group is not enough to cover the
    cukup untuk memenuhi liabilitasnya.                                                               liabilities which become due.

    Dalam pengelolaan risiko likuiditas, manajemen                                                    In the management of liquidity risk,
    memantau dan menjaga jumlah kas dan setara                                                        management monitors and maintains a level of
    kas yang dianggap memadai untuk membiayai                                                         cash and cash equivalents deemed adequate to
    operasional Grup dan untuk mengatasi dampak                                                       finance the Group’s operations and to mitigate
    fluktuasi arus kas. Manajemen juga melakukan                                                      the effects of fluctuation in cash flows.
    evaluasi berkala atas proyeksi arus kas dan arus                                                  Management also regularly evaluates the
    kas aktual, termasuk jadwal jatuh tempo utang,                                                    projected and actual cash flows, including loan
    dan terus-menerus melakukan penelaahan                                                            maturity profiles, and continuously assess
    pasar keuangan untuk mendapatkan sumber                                                           conditions in the financial markets for
    pendanaan yang optimal.                                                                           opportunities to obtain optimal funding sources.

    Tabel di bawah ini menganalisa liabilitas                                                         The table below analyzes the Group’s financial
    keuangan Grup yang diselesaikan secara neto                                                       liabilities into relevant maturity groupings based
    yang dikelompokkan berdasarkan periode yang                                                       on the remaining period to the contractual
    tersisa sampai dengan tanggal jatuh tempo                                                         maturity date. The amounts disclosed in the
    kontraktual. Jumlah yang diungkapkan dalam                                                        table are the contractual undiscounted cash
    tabel merupakan arus kas kontraktual yang tidak                                                   flows:
    didiskontokan:

                                                                                       2025
                              <= 1 tahun/      >1 tahun-2 tahun/   >2 tahun-5 tahun/            > 5 tahun/          Jumlah/           Nilai Tercatat/
                               <= 1 year          >1-2 years          >2-5 years                > 5 years            Total            As Reported


    Liabilitas Keuangan                                                                                                                                  Other Financial
       Lainnya                                                                                                                                             Liabilities
    Utang usaha              219.518.004.360                  -                   -                         -    219.518.004.360       219.518.004.360   Trade accounts payable
    Beban akrual              25.545.892.998                  -                   -                         -     25.545.892.998        25.545.892.998   Accrued expenses
    Setoran jaminan          159.159.980.240      2.944.496.882      20.964.865.875           114.530.875.684    297.600.218.681       243.820.133.654   Security deposits
    Liabilitas sewa              355.600.000      1.881.600.000       1.568.000.000                                3.805.200.000         3.590.652.304   Lease liabilities
    Liablitas lain - lain     36.716.405.673                  -                   -                          -    36.716.405.673        36.716.405.673   Other liabilities

    Jumlah                   441.295.883.271      4.826.096.882      22.532.865.875           114.530.875.684    583.185.721.712       529.191.088.989   Total



                                                                                       2024
                             <= 1 tahun/       >1 tahun-2 tahun/   >2 tahun-5 tahun/            > 5 tahun/          Jumlah/           Nilai Tercatat/
                              <= 1 year           >1-2 years          >2-5 years                > 5 years            Total            As Reported


    Liabilitas Keuangan                                                                                                                                  Other Financial
       Lainnya                                                                                                                                             Liabilities
    Utang usaha             225.709.443.010                   -                   -                         -    225.709.443.010       225.709.443.010   Trade accounts payable
    Beban akrual             26.335.228.008                   -                   -                         -     26.335.228.008        26.335.228.008   Accrued expenses
    Setoran jaminan         153.832.895.140       3.657.560.779      12.985.332.708           111.340.298.181    281.816.086.808       227.061.955.187   Security deposits
    Liablitas lain - lain     8.696.195.167                   -                   -                         -      8.696.195.167         8.696.195.167   Other liabilities

    Jumlah                  414.573.761.325       3.657.560.779      12.985.332.708           111.340.298.181    542.556.952.993       487.802.821.372   Total




                                                                            - 92 -
Page 347
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                              PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                             For the Years Ended
31 Desember 2025 dan 2024                                                           December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                           (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                               unless Otherwise Stated)


44.   Perjanjian                                                 44.    Agreements

      Perjanjian Sewa – Grup sebagai Lessee                             Lease Agreements – Group as Lessee

      Grup menandatangani beberapa perjanjian sewa                      The Group entered into various lease
      peralatan kantor dan bangunan. Periode sewa                       agreements for use of office equipment and
      berkisar antara tiga (3) tahun sampai lima (5)                    building. The lease terms are between three (3)
      tahun. Sebagian besar perjanjian sewa tersebut                    to five (5) years and the majority of the lease
      dapat diperpanjang kembali pada akhir masa                        agreements are renewable at the end of the
      sewa dengan penyesuaian ke harga pasar kini.                      lease period at market rate.

            Pihak dalam perjanjian/               Item yang disewa/                            Periode perjanjian/
                Counterparties                       Leased items                             Period of agreement

      PT Sentral Mitra Informatika Tbk              Sewa printer/                 Januari 2022 – Desember 2024 dan
                                                    Printer lease                 Januari 2025 – Oktober 2027/
                                                                                  January 2022 – December 2024 and
                                                                                  January 2025 – October 2027

      PT Purizuqni                                  Sewa lahan/                   Maret 2020 – Februari 2023 dan
                                                    Land lease                    Maret    2023    –    Mei 2026/
                                                                                  March 2020 – February 2023 and
                                                                                  March 2023 – May 2026

      Nilai tercatat aset hak-guna dan liabilitas                       The carrying amounts of right-of-use assets and
      sewa atas sewa tersebut telah disajikan                           lease liabilities of the aforementioned leases
      masing-masing pada Catatan 15 dan 25.                             have been presented in Notes 15 and 25,
                                                                        respectively.

      Laporan laba rugi dan penghasilan komprehensif                    The consolidated statements of profit or loss
      lain konsolidasian menyajikan saldo berikut                       and other comprehensive income shows the
      berkaitan dengan sewa:                                            following amounts related to leases:

                                                2025                   2024

      Penyusutan aset hak-guna (Catatan 15)   3.300.020.290       3.514.489.286     Depreciation of right-of-use assets (Note 15)

      Beban bunga atas liabilitas sewa                                              Interest expense on lease liabilities
        (Catatan 38)                           318.356.060          101.966.283       (Note 38)

      Beban berkaitan dengan sewa jangka
        pendek dan aset bernilai rendah                                             Expense relating to short-term leases
        (Catatan 35)                          1.347.412.500       1.318.609.510       and low-value assets (Note 35)

      Jumlah                                  4.965.788.850       4.935.065.079     Total

      Jumlah pengeluaran kas untuk sewa selama                          The total cash outflow for leases for the
      tahun yang berakhir 31 Desember 2025                              years ended December 31, 2025 and
      dan 2024 masing-masing adalah sebesar                             2024 amounted to Rp 3,027,412,500 and
      Rp 3.027.412.500 dan Rp 3.902.589.510.                            Rp 3,902,589,510, respectively.

      Jumlah komitmen sewa untuk sewa jangka                            Total lease commitments from short-term
      pendek yang dicatat sebagai beban dengan                          leases recognized as expenses on a
      dasar garis lurus selama tahun yang berakhir                      straight-line basis for the years ended
      31 Desember 2025 dan 2024 masing-masing                           December 31, 2025 and 2024 amounted to
      adalah sebesar Rp 1.347.412.500 dan                               Rp 1,347,412,500 and Rp 1,318,609,510,
      Rp 1.318.609.510.                                                 respectively.




                                                        - 93 -
Page 348
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                               For the Years Ended
31 Desember 2025 dan 2024                                                             December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                             (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                 unless Otherwise Stated)

    Perjanjian Pembangunan dengan Kontraktor                                Construction Agreements

    a.   Grup telah menandatangani perjanjian                               a.   The Group entered into agreements with
         dengan    beberapa  kontraktor  untuk                                   several contractors for the development of
         pembangunan lebih lanjut proyek Grup                                    real estate projects as follows:
         sebagai berikut:
                       Nama Kontraktor/               Nama Perusahaan /                   Lokasi Proyek/          Nama Proyek/
                       Contractor Name                 Company Name                      Project Location         Project Name

         PT Alvindo Bangun Sarana Mandiri,     PT Putra Alvita Pratama             Bekasi                    Grand Wisata
          PT Okta Duta Inti Perkasa,
          PT Kirana Kurnia Kreasi,
          PT Anugrah Sarana Mandiri dan/and
          PT Utama Tigadihardja

         PT Alvindo Bangun Sarana Mandiri,     PT Sinarwijaya Ekapratista          Tangerang                 Banjar Wijaya
          PT Tunasbangun Griya Asri,
          PT Taruna Bangun Mandiri dan/and
          PT Bina Sarana Inti Sejahtera

         CV Unicon Pratama Indonesia dan/and   Perusahaan                          Surabaya                  Klaska Residence
          CV Multi Ahrindo

         PT Tatamulia Nusantara Indah          PT Duta Semesta Mas                 Jakarta                   South Gate

         PT Trijaya Citra Perdada              PT Misaya Properindo                Cibubur                   Legenda Wisata

         PT Ikagriya Darmapersada              PT Mekanusa Cipta                   Cibubur                   Kota Wisata
                                               PT Kurniasubur Permai
                                               PT Putra Prabukarya
                                               PT Anekagriya Buminusa

         PT Total Bangun Persada               PT Itomas Kembangan Perdana         Taman Permata Buana       Aerium



    b.   Perusahaan menandatangani perjanjian                               b.   The Company has entered into an
         dengan bank pemberi Kredit Pemilikan                                    agreement with certain banks, which
         Rumah (KPR) dimana dinyatakan apabila                                   provides that in the event the customers
         konsumen yang memiliki KPR di bank                                      having housing loans (KPR) with the banks
         tersebut     tidak mampu        melanjutkan                             fail to pay their obligations while the land
         kreditnya, sementara sertifikat tanah yang                              titles are still being processed, the
         dibeli oleh konsumen tersebut masih dalam                               Company is obliged to buy back from the
         proses, maka Perusahaan berkewajiban                                    bank the receivables from the customers
         untuk membeli kembali (buy back) KPR                                    who are in default in their obligations. Such
         dari konsumen yang penyelesaiannya                                      receivables will be bought back by the
         bermasalah tersebut sejumlah saldo KPR                                  Company from the banks at its outstanding
         yang tersisa dengan maksimum sebesar                                    balance or at a maximum, at the amount of
         jumlah KPR yang diterima oleh konsumen                                  housing loan facility received by the
         dari bank pemberi KPR. KPR tersebut                                     customer. The receivables are secured by
         dijamin dengan rumah yang dibeli oleh                                   the related houses purchased by the
         konsumen (Catatan 7).                                                   customers (Note 7).

    Perjanjian Kerjasama Bangun, Kelola dan                                 Build, Operate            and   Transfer         (BOT)
    Alih (Build, Operate and Transfer atau BOT)                             Agreements

    c.   Pada tanggal 15 Januari 1993, Perusahaan                           c.   On January 15, 1993, the Company
         menandatangani     perjanjian    kerjasama                              entered into a Build, Operate and Transfer
         bangun, kelola dan alih (Build, Operate and                             (BOT) agreement with PT Sinarwisata
         Transfer atau BOT) dengan PT Sinarwisata                                Lestari (SWL), a subsidiary, to build and
         Lestari (SWL), entitas anak, untuk                                      operate a hotel building with its facility
         membangun dan mengelola gedung hotel                                    located in Jalan Mangga Dua, Jakarta for a
         dan sarana penunjangnya yang dibangun di                                period of twenty (20) years from the
         Jalan Mangga Dua, Jakarta, untuk jangka                                 commencement of the hotel’s commercial
         waktu dua puluh (20) tahun sejak hotel                                  operations. In 2015, the term of BOT
         beroperasi secara komersial. Pada tahun                                 agreement changed to forty (40) years
         2015, jangka waktu perjanjian kerjasama                                 based on amended agreement.
         BOT diubah menjadi empat puluh (40) tahun
         berdasarkan addendum perjanjian.




                                                       - 94 -
Page 349
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


         Pada waktu masa perjanjian berakhir, SWL                     Upon expiration of the agreement, SWL will
         akan menyerahkan gedung tersebut kepada                      transfer the hotel building to the Company.
         Perusahaan.

    d.   Pada tanggal 13 September 1999,                         d.   On September 13, 1999, the Company
         Perusahaan menandatangani perjanjian                         signed a joint operations agreement with
         kerjasama bangun, kelola dan alih (Build,                    the Local Government (Pemda) Jakarta
         Operate and Transfer atau BOT) dengan                        under Build, Operate, and Transfer (BOT),
         Pemerintah Daerah (Pemda) Jakarta untuk                      to build a bridge measuring 4,199 square
         membangun jembatan penyeberangan                             meters, including its shop facility of
         orang seluas 4.199 m2 beserta fasilitas                      141 units or 1,527 square meters, which
         pertokoan sebanyak 141 unit atau 1.527 m2                    will connect ITC Mangga Dua building and
         yang menghubungkan gedung ITC dengan                         Mall Mangga Dua building. This agreement
         Mal Mangga Dua untuk jangka waktu tiga                       is valid for thirty (30) years starting from the
         puluh (30) tahun sejak jembatan selesai                      date when the bridge is ready for use.
         dibangun dan layak beroperasi.

         Selama masa BOT, Perusahaan dapat                            During the BOT period, the Company can
         menyewakan fasilitas pertokoan kepada                        rent out, transfer its rights or lend the shop
         pihak lain. Pada waktu masa BOT berakhir,                    facility to third parties. At the end of the
         Perusahaan akan menyerahkan jembatan                         BOT period, the Company will transfer the
         dan fasilitas pertokoan tersebut kepada                      bridge and the shop facility to Pemda
         Pemda Jakarta.                                               Jakarta.

    e.   Pada tanggal 14 Mei 2003, Perusahaan                    e.   On May 14, 2003, the Company signed a
         menandatangani     perjanjian    kerjasama                   joint operations agreement with the Local
         bangun, kelola dan alih (Build, Operate and                  Government (Pemda) in Jakarta under
         Transfer atau BOT) dengan Pemerintah                         Build, Operate, and Transfer (BOT), to
         Daerah (Pemda) Jakarta untuk membangun                       build a bridge and an underground channel
         jembatan dan terowongan seluas 3.041 m2                      totaling 3,041 square meters in Jalan
         yang melintas di atas dan di bawah Jalan                     Aquarium, including its shop facility of 196
         Aquarium dilengkapi dengan fasilitas                         units or 1,559.80 square meters, which will
         196 toko seluas 1.559,80 m2 yang                             connect Harcomas building and Mall
         menghubungkan Gedung Harcomas dan                            Mangga Dua building. This agreement is
         Gedung Mal Mangga Dua untuk jangka                           valid for twenty five (25) years starting from
         waktu dua puluh lima (25) tahun sejak                        the date when the bridge and underground
         jembatan dan terowongan selesai dibangun                     channel are ready for use.
         dan layak beroperasi.

         Selama masa BOT, Perusahaan dapat                            During the BOT period, the Company can
         menyewakan,        meminjamkan        atau                   rent out, transfer its rights or lend the shop
         memberikan hak fasilitas pertokoan kepada                    facility to third parties. At the end of the
         pihak lain. Pada waktu masa BOT berakhir,                    BOT period, the Company will transfer the
         Perusahaan akan menyerahkan jembatan                         bridge, underground channel and the shop
         dan terowongan tersebut kepada Pemda                         facility to Pemda Jakarta.
         Jakarta.

    f.   Pada tanggal 8 Oktober 2003, PT Perwita                 f.   On October 8, 2003, PT Perwita
         Margasakti       (PMS),      entitas     anak,               Margasakti (PMS), a subsidiary entered
         menandatangani       perjanjian     kerjasama                into a Build, Operate and Transfer (BOT)
         bangun, kelola dan alih (Build, Operate and                  Agreement with the Local Government
         Transfer atau BOT) dengan Pemerintah                         (Pemda) in Jakarta, wherein PMS will build
         Daerah (Pemda) Jakarta, dimana PMS akan                      a bridge and a tunnel, each consisting of
         membangun jembatan dan terowongan                            kiosks, which will connect Superblok
         yang berisi kios, yang akan menghubungkan                    Ambasador Kuningan and ITC Kuningan
         Gedung Superblok Ambasador Kuningan                          located at Jalan Prof. Dr. Satrio, South
         dan ITC Kuningan yang berlokasi di Jalan                     Jakarta.
         Prof. Dr. Satrio, Jakarta Selatan.




                                                     - 95 -
Page 350
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)

         PMS       mempunyai       hak       untuk                  PMS has the right to operate the bridge and
         mengoperasikan jembatan dan terowongan                     tunnel together with the kiosks for twenty-
         bersama dengan kios yang berada                            five (25) years commencing from the
         didalamnya selama dua puluh (25) tahun,                    signing of the agreement. Upon expiration
         sejak penandatanganan perjanjian. Setelah                  of the twenty-five year period, PMS will
         berakhirnya masa tersebut, PMS akan                        transfer a portion of the kiosks from the
         menyerahkan sebagian kios dari jembatan                    bridge and the tunnel to Pemda.
         dan terowongan kepada Pemda.

    Perjanjian Kerjasama                                       Joint Operations Agreements

    g.   Pada tanggal 8 Oktober 1999, Perusahaan               g.   On October 8, 1999, the Company signed
         menandatangani    perjanjian  kerjasama                    a joint operations agreement “Badan Kerja
         dalam bentuk Badan Kerja Sama (BKS                         Sama” (BKS Pasar Pagi – ITC Mangga
         Pasar Pagi – ITC Mangga Dua) dengan                        Dua) with PT Praja Puri Indah Real Estate
         PT Praja Puri Indah Real Estate dan                        and individual to build a bridge, including
         individu untuk membangun jembatan                          shop facility, which will connect the Pasar
         penyeberangan orang beserta fasilitas                      Pagi Mangga Dua building and ITC
         pertokoan yang menghubungkan gedung                        Mangga Dua building. The Company’s
         Pasar Pagi Mangga Dua dan gedung ITC                       share in BKS Pasar Pagi – ITC Mangga
         Mangga     Dua.     Bagian    partisipasi                  Dua is 40%.
         Perusahaan pada BKS Pasar Pagi – ITC
         Mangga Dua adalah sebesar 40%.

         Pada tanggal 30 September 2005,                            On September 30, 2005, the Company
         Perusahaan menandatangani pembaharuan                      signed a renewal of the aforementioned
         perjanjian kerjasama BKS Pasar Pagi – ITC                  joint operation agreement on the BKS
         Mangga Dua dengan PT Praja Puri Indah                      Pasar Pagi – ITC Mangga Dua with
         Real Estate dan individu. Berdasarkan                      PT Praja Puri Indah Real Estate and
         perjanjian tersebut, para pihak akan bekerja               individuals. Based on the agreement, the
         sama      melaksanakan        pembangunan,                 parties will develop, manage and use
         mengelola       dan     menggunausahakan                   together the kiosks in Pasar Pagi – ITC
         kios-kios yang terdapat pada Jembatan                      Mangga Dua Bridge. This agreement is
         Pasar Pagi – ITC Mangga Dua tersebut                       valid since October 8, 1999 until the rights
         secara bersama-sama. Perjanjian ini                        to manage the bridge expires, the bridge
         berlangsung sejak tanggal 8 Oktober 1999                   had been transferred to Pemda DKI, and all
         sampai dengan diserahkannya jembatan                       parties already met all their obligations,
         Pasar Pagi – ITC Mangga Dua dan dengan                     calculated and distributed profit and losses.
         berakhirnya hak pengelolaan atas jembatan
         Pasar Pagi – ITC Mangga Dua kepada
         Pemerintah Daerah Jakarta, dan para pihak
         telah memenuhi seluruh kewajibannya serta
         telah    melakukan       perhitungan    dan
         pembagian keuntungan atau kerugian.

         Hak dan kewajiban para pihak dalam                         The rights and obligations of the parties in
         kerjasama ini adalah sebagai berikut:                      the joint operations agreement follows:

         •    Melakukan penyetoran dengan jumlah                    •   Pay the agreed amount on the agreed
              dan jangka waktu yang telah                               date;
              ditetapkan;
         •    Mengurus perijinan, pembangunan,                      •   Handle the retribution, construction,
              pemasaran serta pengelolaan proyek;                       marketing and project management;
              dan                                                       and
         •    Distribusi hasil pendapatan sesuai                    •   Distribute   income      based     on
              prioritas yang telah ditentukan.                          pre-determined priority.




                                                   - 96 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    h.   Pada tanggal 23 Mei 2002, Perusahaan                  h.   On May 23, 2002, the Company entered
         telah mengadakan perjanjian kerjasama                      into an agreement with PT Matra Olahcipta
         dengan PT Matra Olahcipta (MOC),                           (MOC), based on Agreement No. 65 of
         sebagaimana yang tercantum dalam Surat                     Buntario Tigris Darmawa Ng, S.H., S.E., a
         Perjanjian Kerjasama No. 65 dari Buntario                  public notary in Jakarta. The purpose of the
         Tigris Darmawa Ng, S.H., S.E., notaris di                  agreement is to build a shopping center,
         Jakarta. Kerjasama tersebut meliputi                       with or without residential areas, and other
         pembangunan pusat perdagangan dengan                       facilities on MOC’s land, with total area of
         atau tanpa hunian berikut dengan fasilitas                 about 37,060 square meters, located in
         prasarana ataupun sarana-sarana lainnya                    Jalan Arteri Permata Hijau, South Jakarta.
         diatas tanah milik MOC seluas ±37.060 m2                   The Company will fund the project and will
         yang terletak di Jalan Arteri Permata Hijau,               do marketing and sales of the project to
         Jakarta    Selatan.    Perusahaan      akan                other parties. The Company’s share in this
         membiayai pembangunan proyek tersebut                      joint operations agreement is 50%.
         dan memasarkan serta menjualnya kepada
         pihak lain. Bagian partisipasi Perusahaan
         pada kerjasama ini adalah sebesar 50%.

         Dalam melaksanakan kerjasama ini, kedua                    The Company and the other stockholders
         belah pihak sepakat dan setuju bahwa                       of MOC agreed that project management
         manajemen proyek pembangunan akan                          will be performed jointly by both parties
         dilakukan secara bersama-sama dan untuk                    through establishment of a project
         itu kedua belah pihak setuju membentuk                     committee consisting of representatives
         badan pelaksana proyek pembangunan                         from both parties.
         yang pengurusnya merupakan perwakilan
         dari masing-masing pihak.

         Hak dan kewajiban para pihak dalam                         The rights and obligations of the parties in
         kerjasama ini adalah sebagai berikut:                      the joint operations agreement follows:

         •    Menyediakan aset berupa tanah;                        •   Provide the land;
         •    Melaksanakan proyek pembangunan                       •   Develop the project on scheduled date;
              sesuai dengan jadwal pelaksanaan                          and
              proyek; dan
         •    Distribusi hasil pendapatan sesuai                    •   Distribute income based on          pre-
              prioritas yang telah ditentukan.                          determined priority.

    i.   Pada    tanggal    1    November      2004,           i.   On November 1, 2004, PT Saranapapan
         PT Saranapapan Ekasejati, entitas anak,                    Ekasejati, a subsidiary, signed another
         menandatangani      perjanjian   kerjasama                 agreement with PT Fun World Prima
         pemakaian lokasi arena fantasi dan Little                  (FWP) for using the Arena Fantasi and
         Venice Kota Bunga – Puncak dengan                          Little Venice which are located at Kota
         PT Fun World Prima (FWP), dimana FWP                       Bunga – Puncak.             Based on the
         wajib membayar sejumlah biaya secara                       agreement, FWP has an obligation to pay
         bertahap.   Perjanjian     tersebut    telah               certain amount for using the place, building
         beberapa kali diperpanjang terakhir sampai                 and facilities for the period covered in the
         dengan 31 Desember 2026.                                   agreement, with the installment payment.
                                                                    This agreement has been extended several
                                                                    times, the latest extension is until
                                                                    December 31, 2026.

    j.   Pada tanggal 28 Mei 2018, PT Duta                     j.   On May 28, 2018, PT Duta Semesta Mas
         Semesta Mas (DSM), entitas anak,                           (DSM), a subsidiary, signed an agreement
         menandatangani perjanjian dengan Keikyu                    with Keikyu Corporation (KC) and
         Corporation (KC) dan PT JCREAL                             PT JCREAL (JCREAL) to develop project
         (JCREAL)       dengan     tujuan    untuk                  Southgate Apartment. Based on Deed of
         mengembangkan        proyek    Apartemen                   Establishment of PT Keikyu Itomas
         Southgate. Berdasarkan Akta Pendirian                      Indonesia (KII) No. 20 dated June 29, 2018
         PT Keikyu Itomas Indonesia (KII) No. 20                    of Mina Ng, S.H., a public notary in Jakarta,
         tanggal 29 Juni 2018 dari Mina Ng, S.H.,                   DSM, KC and JCREAL established KII.
         notaris di Jakarta, DSM, KC dan JCREAL                     DSM’s interest in KII is 10%.
         mendirikan KII. Bagian kepemilikan DSM
         pada KII adalah sebesar 10%.


                                                   - 97 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    k.   Pada tanggal 23 November 2018,                        k.   On November 23, 2018, PT Mekanusa
         PT Mekanusa Cipta (MNC), entitas anak,                     Cipta (MNC), a subsidiary, signed a joint
         menandatangani      perjanjian   kerjasama                 venture agreement with PT Inti Gemilang
         dengan PT Inti Gemilang Bangun Perkasa                     Bangun Perkasa (IGBP) to develop real
         (IGBP)      dengan        tujuan       untuk               estate project in Cibubur, West Java.
         mengembangkan proyek real estat di                         Based on Deed of Establishment of
         Cibubur, Jawa Barat. Berdasarkan Akta                      PT Sahabat Kota Wisata (SKW) No. 30
         Pendirian PT Sahabat Kota Wisata (SKW)                     dated November 30, 2018 of Amelia
         No. 30 tanggal 30 November 2018 dari                       Jonatan S.H., M.Kn., a substitute notary of
         Amelia Jonatan, S.H., M.Kn., notaris                       Ira Sudjono S.H., M.Hum., M.Kn., MM.,
         pengganti dari Ira Sudjono S.H., M. Hum.,                  M.Si., a public notary in Jakarta, MNC and
         M.Kn., MM., M.Si., notaris di Jakarta, MNC                 IGBP established SKW. MNC’s interest in
         dan IGBP mendirikan SKW. Bagian                            SKW is 40%.
         kepemilikan MNC pada SKW adalah
         sebesar 40%.

    l.   Pada tanggal 27 Agustus 2019, Perusahaan              l.   On August 27, 2019, the Company signed
         menandatangani     perjanjian  kerjasama                   a    joint   venture   agreement       with
         dengan PT MC Urban Development                             PT MC Urban Development Indonesia
         Indonesia (DDI) dengan tujuan untuk                        (DDI) to develop real estate project in
         mengembangkan proyek real estat di                         Jakarta. Based on Deed of Establishment
         Jakarta. Berdasarkan Akta Pendirian                        of PT Duti Diamond Development (DDD)
         PT Duti Diamond Development (DDD)                          No. 122 dated September 20, 2019 of Jose
         No. 122 tanggal 20 September 2019 dari                     Dima Satria, S.H., M.Kn., a public notary in
         Jose Dima Satria, S.H., M.Kn., notaris di                  Jakarta, the Company and DDI established
         Jakarta, Perusahaan dan DDI mendirikan                     DDD. The Company’s interest in DDD is
         DDD. Bagian kepemilikan Perusahaan pada                    30%.
         DDD adalah sebesar 30%.

    m. Pada tanggal 29 Agustus 2019, PT Putra                  m. On August 29, 2019, PT Putra Alvita
       Alvita Pratama (PAP), entitas anak,                        Pratama (PAP), a subsidiary, signed
       menandatangani      perjanjian   kerjasama                 a joint venture agreement with IGBP to
       dengan IGBP dengan tujuan untuk                            develop real estate project in Grand
       mengembangkan proyek real estat di Grand                   Wisata, Bekasi. Based on Deed of
       Wisata, Bekasi. Berdasarkan Akta Pendirian                 Establishment of PT Sahabat Duta Wisata
       PT Sahabat Duta Wisata (SDW) No. 51                        (SDW) No. 51 dated August 29, 2019 of
       tanggal 29 Agustus 2019 dari Amelia                        Amelia Jonatan, S.H., M.Kn., a substitute
       Jonatan, S.H., M.Kn., notaris pengganti dari               notary of Ira Sudjono, S.H., M.Hum., M.Kn.,
       Ira Sudjono, S.H., M.Hum., M.Kn., MM.,                     MM., M.Si., a public notary in Jakarta, PAP
       M.Si., notaris di Jakarta, PAP dan IGBP                    and IGBP established SDW. PAP’s interest
       mendirikan SDW. Bagian kepemilikan PAP                     in SDW is 40%.
       pada SDW adalah sebesar 40%.

    Perjanjian Sewa Jangka Panjang                             Long–term Lease Agreements

    n.   Pada tanggal 29 Juni 2015, PT Duta                    n.   On June 29, 2015, PT Duta Semesta Mas,
         Semesta        Mas,      entitas     anak,                 a subsidiary, entered into a lease
         menandatangani perjanjian sewa dengan                      agreement with PT Aeon Mall Indonesia for
         PT Aeon Mall Indonesia untuk jangka waktu                  a period of twenty (20) years, which will be
         dua puluh (20) tahun yang akan berlaku                     effective upon completion of the project.
         efektif pada saat proyek selesai dibangun.                 The Company must provide collateral
         Perusahaan wajib menyediakan jaminan                       (Surety Bond) related to the construction of
         (Surety Bond) terkait pembangunan proyek                   the project.
         tersebut.

    o.   Pada tanggal 3 Juli 2023, Perusahaan,                 o.   On July 3, 2023, the Company, as lessor,
         sebagai     pesewa,      menandatangani                    entered into a lease agreement with
         perjanjian sewa dengan PT Hoki Mart                        PT Hoki Mart Indonesia with lease period
         Indonesia untuk jangka waktu sepuluh (10)                  for ten (10) years.
         tahun.



                                                   - 98 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                          PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                         For the Years Ended
31 Desember 2025 dan 2024                                                       December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                       (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                           unless Otherwise Stated)


      p.   Pada tanggal 25 November 2024, PT Wijaya                p.   On November 25, 2024, PT Wijaya
           Pratama Raya, entitas anak dan PT Aeon                       Pratama Raya, a subsidiary entered into a
           Indonesia, pihak ketiga, menandatangani                      lease agreement with PT Aeon Indonesia,
           perjanjian sewa tempat di DP Mall                            a third party, to rent at DP Mall Semarang,
           Semarang untuk jangka waktu selama lima                      for a period of fifteen (15) years.
           belas (15) tahun.

      q.   Pada tanggal 27 Mei 2025, Perusahaan,                   q.   On May 27, 2025, the Company, as lessor,
           sebagai       pesewa,      menandatangani                    entered into a lease agreement with
           perjanjian sewa dengan PT Lion Super Indo,                   PT Lion Super Indo, third party, with lease
           pihak ketiga, untuk jangka waktu lima belas                  period for fifteen (15) years.
           (15) tahun.

      r.   Pada    tanggal    20    Oktober     2025,              r.   On October 20, 2025, PT Sinarwisata
           PT Sinarwisata Lestari, entitas anak, dan                    Lestari, a subsidiary, entered into a lease
           PT     Rongxiang    Makmur       Indonesia                   agreement with PT Rongxiang Makmur
           menandatangani perjanjian sewa untuk                         Indonesia for a period of ten (10) years.
           jangka waktu sepuluh (10) tahun.


45.   Perkara Hukum dan Kewajiban Bersyarat                  45.   Legal Matters and Contingencies

      a.   Perusahaan menghadapi enam (6) gugatan                  a.   The Company is a party to six (6) lawsuits
           oleh pihak ketiga, mengenai sertifikat Hak                   in   connection      with   the   Building
           Guna Bangunan (HGB). Perusahaan telah                        Use Rights Certificate. The Company
           memenangkan seluruh perkara tersebut                         has won all the cases in the High Court of
           ditingkat banding di Pengadilan Tinggi DKI                   DKI Jakarta dated March 16, 2009,
           Jakarta dengan putusan tanggal 16 Maret                      September 14, 2009, September 15, 2009,
           2009, 14 September 2009, 15 September                        March 9, 2010, August 9, 2010 and
           2009, 9 Maret 2010, 9 Agustus 2010 dan                       May 11, 2012. Six (6) cases have been
           11 Mei 2012. Di tingkat kasasi, enam (6)                     decided in favor of the Company based on
           perkara     telah    dimenangkan       oleh                  Supreme       Court      decision   dated
           Perusahaan dengan putusan tanggal                            September 7, 2010, April 26, 2011,
           7 September 2010, 26 April 2011,                             October 20, 2011, November 8, 2011,
           20 Oktober 2011, 8 November 2011,                            August 14, 2012 and October 21, 2014. As
           14 Agustus 2012 dan 21 Oktober 2014.                         of the date of the completion of the
           Sampai dengan tanggal penyelesaian                           consolidated financial statements, six (6)
           laporan keuangan konsolidasian, enam (6)                     cases already had permanent legal force.
           perkara telah memiliki kekuatan hukum
           tetap.

      b.   Perusahaan menghadapi delapan (8)                       b.   The Company is a party in eight (8) lawsuits
           perkara mengenai HGB. Perusahaan telah                       in connection with the Building Use Rights
           memenangkan perkara tersebut dengan                          Certificate. The Company has won those
           putusan tanggal 8 Mei 2012 (1 perkara),                      cases dated May 8, 2012 (1 case), March
           29 Maret 2012 (1 perkara), 7 Juni 2012                       29, 2012 (1 case), June 7, 2012 (5 cases)
           (5 perkara) dan 18 Juni 2013 (1 perkara).                    and June 18, 2013 (1 case). The plaintiff of
           Pihak penggugat dari seluruh perkara                         all those lawsuits filed for appeal and were
           tersebut mengajukan banding dan sudah                        settled in appeal process on April 2, 2013,
           diputus pada tanggal 2 April 2013, 25 April                  April 25, 2013, July 3, 2013, September 17,
           2013, 3 Juli 2013, 17 September 2013,                        2013, October 2, 2013, March 18, 2014,
           2 Oktober 2013, 18 Maret 2014, 12 Juni                       June 12, 2014 and February 5, 2015 and
           2014 dan 5 Februari 2015 dimenangkan                         had been decided in favor of the Company.
           oleh Perusahaan. Sampai dengan tanggal                       As of the date of the completion of the
           penyelesaian       laporan       keuangan                    consolidated financial statements, eight (8)
           konsolidasian, delapan (8) perkara telah                     cases already had permanent legal force.
           memiliki kekuatan hukum tetap.




                                                    - 99 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                    PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                   For the Years Ended
31 Desember 2025 dan 2024                                                                                 December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                 (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                     unless Otherwise Stated)


      Manajemen      Grup   berkeyakinan        bahwa                                        Management believes that the eventual
      kewajiban yang mungkin timbul atas gugatan                                             liabilities under these lawsuits or claims, if any,
      hukum atau tuntutan dari pihak ketiga, jika ada,                                       will not have a material adverse effect on the
      tidak akan menimbulkan kerugian yang material                                          Group’s future financial position and operating
      pada posisi keuangan dan hasil operasi Grup di                                         results.
      masa yang akan datang.


46.   Informasi Segmen                                                               46.     Segment Information

      Informasi Segmen Operasi                                                               Operating Segment Information

      Grup dikelola dan dikelompokkan dalam divisi                                           The Group’s operating segment information is
      usaha yang terdiri dari real estat, properti dan                                       presented based on their business activities,
      hotel.                                                                                 namely, real estate, property and hotel.

      Informasi bentuk segmen operasi yang berupa                                            The Group’s operating segment information are
      segmen usaha Grup adalah sebagai berikut:                                              presented below:
                                                                                 2025
                                              Real Estat/            Properti/               Hotel/            Konsolidasian/
                                              Real Estate            Property                Hotel             Consolidated

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

      Pendapatan                                                                                                                   Revenues
        Pihak eksternal                     2.253.686.035.504     479.334.914.913                       -     2.733.020.950.417      Revenues from external parties

      Hasil segmen                                                                                                                 Segment results
        Laba kotor segmen                   1.420.362.583.561     410.962.855.904                       -     1.831.325.439.465      Segment gross profit

      Laba (rugi) usaha                      475.368.413.039      188.206.749.916          (5.802.298.938)     657.772.864.017     Profit (loss) from operations
      Ekuitas pada laba (rugi) bersih                                                                                              Share in net income (loss)
        dari investasi dalam saham            (32.142.731.171)                   -         33.383.634.563         1.240.903.392      of investees
      Penghasilan (beban) lain-lain -
        bersih                                (49.761.713.890)     11.738.388.040           3.398.448.533       (34.624.877.317)   Other income (expenses) - net

      Laba sebelum pajak                     393.463.967.978      199.945.137.956          30.979.784.158      624.388.890.092     Profit before tax
      Beban pajak                                467.017.415          328.619.060                       -          795.636.475     Tax expense
      Laba bersih                            392.996.950.563      199.616.518.896          30.979.784.158      623.593.253.617     Net profit

      Laporan Posisi Keuangan                                                                                                      Consolidated Statement of Financial
        Konsolidasian                                                                                                                Position

      Aset segmen (tidak termasuk                                                                                                  Segment Assets (exclude
        Pajak Dibayar Dimuka)              13.810.008.364.969    1.876.897.286.072      155.343.711.506      15.842.249.362.547      Prepaid Taxes)

      Liabilitas segmen (tidak termasuk                                                                                            Segment Liabilities (exclude
        Utang Pajak)                        1.939.494.795.487     486.989.659.758           1.255.608.229     2.427.740.063.474      Taxes Payable)

      Informasi Lainnya                                                                                                            Other Information
         Beban penyusutan dan amortisasi      69.512.175.078       71.935.326.295            377.061.386       141.824.562.759       Depreciation and amortization




                                                                         - 100 -
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PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                                         PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                     Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                                        For the Years Ended
31 Desember 2025 dan 2024                                                                                      December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                                      (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                                          unless Otherwise Stated)

                                                                                      2024
                                               Real Estat/                Properti/                Hotel/               Konsolidasian/
                                               Real Estate                Property                 Hotel                Consolidated

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

      Pendapatan                                                                                                                               Revenues
        Pihak eksternal                      4.004.851.521.236         417.831.139.012                         -       4.422.682.660.248         Revenues from external parties

      Hasil segmen                                                                                                                             Segment results
        Laba kotor segmen                    2.251.150.897.836         359.131.201.278                         -       2.610.282.099.114         Segment gross profit

      Laba (rugi) usaha                      1.214.952.777.491         150.205.091.536           (6.190.324.722)       1.358.967.544.305       Profit (loss) from operations
      Ekuitas pada laba (rugi) bersih                                                                                                          Share in net income (loss)
        dari investasi dalam saham             (15.501.799.298)                       -          43.119.314.750          27.617.515.452          of investees
      Penghasilan (beban) lain-lain -
        bersih                                 (23.964.050.903)         11.790.213.335            2.661.123.122           (9.512.714.446)      Other income (expenses) - net

      Laba sebelum pajak                     1.175.478.927.290         161.995.304.871           39.598.113.150        1.377.072.345.311       Profit before tax
      Beban pajak                                1.124.772.536             416.306.440                        -            1.541.078.976       Tax expense
      Laba bersih                            1.174.354.154.754         161.578.998.431           39.598.113.150        1.375.531.266.335       Net profit

      Laporan Posisi Keuangan                                                                                                                  Consolidated Statement of Financial
        Konsolidasian                                                                                                                            Position

      Aset segmen (tidak termasuk                                                                                                              Segment Assets (exclude
        Pajak Dibayar Dimuka)               12.431.417.675.349        1.498.341.542.637       120.943.474.054         14.050.702.692.040         Prepaid Taxes)

      Liabilitas segmen (tidak termasuk                                                                                                        Segment Liabilities (exclude
        Utang Pajak)                         2.129.989.015.681         301.397.024.574             667.004.023         2.432.053.044.278         Taxes Payable)

      Informasi Lainnya                                                                                                                        Other Information
         Beban penyusutan dan amortisasi      139.686.227.237           61.074.699.093             532.956.834          201.293.883.164          Depreciation and amortization




47.   Aset dan Liabilitas Moneter Bersih dalam                                             47.     Net Monetary Assets and Liabilities
      Mata Uang Asing                                                                              Denominated in Foreign Currency

      Tabel berikut ini mengungkapkan jumlah aset                                                  The following table shows consolidated
      dan liabilitas moneter konsolidasian dalam mata                                              monetary assets and liabilities denominated in
      uang asing:                                                                                  foreign currency:

                                                          2025                                              2024
                                           Mata Uang               Ekuivalen/             Mata Uang             Ekuivalen/
                                             Asing/               Equivalent in             Asing/             Equivalent in
                                           U.S.Dollar                  Rp                 U.S.Dollar                Rp

      Aset                                                                                                                               Assets
      Aset Lancar                                                                                                                        Current Assets
         Kas dan setara kas                                                                                                                 Cash and cash equivalents
            Pihak ketiga                      129.097              2.166.513.700             126.495               2.044.415.113               Third parties
         Piutang lain-lain                                                                                                                  Other accounts receivable
            Pihak ketiga                           103                 1.728.546                   166                 2.682.892               Third parties
      Jumlah Aset                             129.200              2.168.242.246             126.661               2.047.098.005         Total Assets

      Liabilitas                                                                                                                         Liabilities

      Liabilitas Jangka Pendek                                                                                                           Current Liabilities
         Setoran Jaminan                                                                                                                    Security deposits
              Pihak berelasi                  (562.240)        (9.435.511.680)             (1.552.341)         (25.088.935.242)                Related parties
              Pihak ketiga                  (4.994.063)       (83.810.365.266)             (3.305.917)         (53.430.230.554)                Third parties

      Jumlah Liabilitas                     (5.556.303)       (93.245.876.946)             (4.858.258)         (78.519.165.796)          Total Liabilities

      Liabilitas Bersih                     (5.427.103)       (91.077.634.700)             (4.731.597)         (76.472.067.791)          Net Liabilities



      Pada tanggal 31 Desember 2025 dan 2024, kurs                                                 As of December 31, 2025 and 2024, conversion
      konversi yang digunakan Grup diungkapkan                                                     rates used by the Group were disclosed in Note
      pada Catatan 2 atas laporan keuangan                                                         2 to consolidated financial statements.
      konsolidasian.




                                                                              - 101 -
Page 356
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                             PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                         Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                            For the Years Ended
31 Desember 2025 dan 2024                                                                          December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                          (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                              unless Otherwise Stated)


48.   Pengungkapan Tambahan Laporan Arus Kas                                    48.   Supplemental Disclosures on Consolidated
      Konsolidasian                                                                   Statements of Cash Flows

      Aktivitas investasi dan pendanaan yang tidak                                    The following are the noncash investing and
      mempengaruhi kas dan setara kas:                                                financing activities of the Group:

                                                                2025                       2024


      Utang penambahan properti investasi                                                                     Liabilities arising from acquisition of
        (Catatan 16)                                         28.672.222.082                           -         investment properties (Note 16)

      Penambahan aset-hak guna melalui                                                                        Acquisition of right-of-use assets through
       liabilitas sewa (Catatan 15)                           5.978.351.421                           -         incurrence of lease liabilities (Note 15)

                                                                                                              Liabilities arising from acquisition of
      Utang penambahan aset tetap (Catatan 14)                  42.460.000                 959.816.723          property and equipment (Note 14)

      Piutang pemesanan saham entitas anak                                                                    Subscription receivable of subsidiaries
        oleh kepentingan nonpengendali (Catatan 32)                         -             4.900.000.000        from non-controlling interests (Note 32)

      Dividen yang masih harus dibayar (Catatan 32)                         -              348.843.800        Dividends payable (Note 32)



49.   Reklasifikasi Akun                                                        49.   Reclassification of Accounts

      Beberapa akun dalam laporan keuangan                                            Certain accounts in the 2024 consolidated
      konsolidasian tahun 2024 telah direklasifikasi                                  financial statements have been reclassified to
      agar sesuai dengan penyajian laporan keuangan                                   conform with the 2025 consolidated financial
      konsolidasian tahun 2025, sebagai berikut:                                      statements presentation. A summary of such
                                                                                      accounts is follows:

                                   Disajikan sebelumnya/           Reklasifikasi/             Disajikan kembali/
                                   As previously reported         Reclassification               As restated

      Laporan posisi keuangan                                                                                          Consolidated statements of
        konsolidasian                                                                                                    financial position

      Aset lancar                                                                                                      Current assets
        Piutang usaha                       78.562.781.925             (55.911.857.584)            22.650.924.341        Trade accounts receivable

      Aset tidak lancar                                                                                                Noncurrent assets
        Piutang lain-lain                                -             55.911.857.584              55.911.857.584        Other accounts receivable



      Reklasifikasi diatas tidak mempengaruhi laporan                                 The above reclassifications did not affect
      laba rugi dan penghasilan komprehensif lain                                     the 2024 consolidated statements of profit or
      konsolidasian Grup tahun 2024.                                                  loss and other comprehensive income of the
                                                                                      Group.




                                                                  - 102 -
Page 357
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                                      PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                                     For the Years Ended
31 Desember 2025 dan 2024                                                                   December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                                   (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                                       unless Otherwise Stated)


50.   Rekonsiliasi Liabilitas Konsolidasian yang                       50.     Reconciliation of Consolidated Liabilities
      Timbul dari Aktivitas Pendanaan                                          Arising from Financing Activities

      Tabel berikut menjelaskan perubahan pada                                 The table below details changes in the Group’s
      liabilitas Grup yang timbul dari aktivitas                               liabilities arising from financing activities,
      pendanaan, yang meliputi perubahan terkait kas                           including both cash and non-cash changes:
      dan nonkas:

                                                                             Perubahan Nonkas/
                                                                             Non-cash changes
                             1 Januari/                          Pergerakan valuta                          31 Desember/
                             January 1,       Arus kas/            asing/Changes       Perubahan lainnya/   December 31,
                                2025          Cash flow         in foreign exchange      Other changes          2025

      Liabilitas sewa                     -   (1.680.000.000)                    -         5.270.652.304     3.590.652.304     Lease liabilities


                                                                             Perubahan Nonkas/
                                                                             Non-cash changes
                             1 Januari/                          Pergerakan valuta                          31 Desember/
                             January 1,       Arus kas/            asing/Changes       Perubahan lainnya/   December 31,
                                2024          Cash flow         in foreign exchange      Other changes          2024

      Liabilitas sewa        2.482.013.717    (2.583.980.000)                    -           101.966.283                   -   Lease liabilities



51.   Perubahan Pernyataan Standar Akuntansi                           51.     Changes to Statements                           of     Financial
      Keuangan                                                                 Accounting Standards

      Diterapkan pada tahun 2025                                               Adopted during 2025

      Penerapan amendemen PSAK No. 221,                                        The implementation of amendment to PSAK
      “Pengaruh Perubahan Kurs Valuta Asing” terkait                           No. 221, “The Effect of Changes in Foreign
      kondisi ketika suatu mata uang tidak tertukarkan,                        Exchange Rates” regarding to conditions when
      yang berlaku efektif 1 Januari 2025 dan relevan                          a currency is not exchangeable, which is
      bagi Grup, tidak menyebabkan perubahan                                   effective from January 1, 2025 and relevant for
      material terhadap jumlah-jumlah yang dilaporkan                          the Group, had no material impact on the
      dalam laporan keuangan konsolidasian.                                    amounts reported in the consolidated financial
                                                                               statements.

      Telah diterbitkan namun belum berlaku efektif                            Issued but not yet effective

      Standar baru dan amendemen standar akuntansi                             The new standard and amendments to financial
      keuangan yang telah diterbitkan yang bersifat                            accounting standard issued that are mandatory
      wajib untuk tahun buku yang dimulai pada atau                            for the financial year beginning or after:
      setelah:

      1 Januari 2026                                                            January 1, 2026

      −   Amendemen PSAK No. 109, ”Instrumen                                   − Amendments to PSAK No. 109, “Financial
          Keuangan” dan PSAK No. 107, “Instrumen                                 Instruments” and PSAK No. 107, “Financial
          Keuangan:      Pengungkapan”    tentang                                Instrument: Disclosure” about classification
          klasifikasi dan pengukuran instrumen                                   and measurement of financial instruments
          keuangan

      −   Amendemen PSAK No. 109, ”Instrumen                                   − Amendments to PSAK No. 109, “Financial
          Keuangan” dan PSAK No. 107, “Instrumen                                 Instruments” and PSAK No. 107, “Financial
          Keuangan: Pengungkapan” tentang kontrak                                Instrument: Disclosure” about contracts
          yang mengacu pada listrik bergantung alam                              referencing nature-dependent electricity




                                                           - 103 -
Page 358
PT DUTA PERTIWI Tbk DAN ENTITAS ANAK                        PT DUTA PERTIWI Tbk AND ITS SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir                                                       For the Years Ended
31 Desember 2025 dan 2024                                                     December 31, 2025 and 2024
(Angka-angka Disajikan dalam Rupiah,                                     (Figures are Presented in Rupiah,
kecuali Dinyatakan Lain)                                                         unless Otherwise Stated)


    −   Amendemen PSAK No. 338, “Kombinasi                     − Amendment of PSAK No. 338, “Business
        Bisnis  Entitas     Sepengendali”    terkait             Combinations of Entities Under Common
        perubahan rujukan pengukuran bisnis alihan               Control” regarding changes in the reference
        dan penyajian informasi prakombinasi bisnis              for measuring transferred businesses and
        dalam kondisi tidak praktis                              the presentation of pre-combination
                                                                 information when impracticable

    1 Januari 2027                                             January 1, 2027

    − PSAK    No.    118,   “Penyajian  dan                    − PSAK No. 118, “Presentation             and
      Pengungkapan dalam Laporan Keuangan”                       Disclosure of Financial Statements”

    Sampai dengan tanggal otorisasi atas laporan              As at the authorization date of these
    keuangan      konsolidasian,  Grup      masih             consolidated financial statements, the Group is
    mempelajari dampak yang mungkin timbul dari               still evaluating the potential impact from the
    penerapan standar baru dan amendemen                      implementation of the new standards and
    terhadap laporan keuangan konsolidasian Grup.             amendments on the Group’s consolidated
                                                              financial statements.


                                                 ********




                                                  - 104 -
Page 359
2025
LAPORAN TAHUNAN
ANNUAL REPORT




Sinar Mas Land Plaza
Grand Boulevard
BSD Green Office Park
BSD City Tangerang 15345


Phone.
                                    Pindai di sini untuk
+62 21 50 368 368                 mengakses Laporan
Fax.                       Tahunan 2025 secara daring
+62 21 50 588 270           Scan here to access Annual
                                    Report 2025 online

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Names mentioned 216 people and organisations named in the text · linked when the evidence is strong

linked org Duta Pertiwi Tbk · Company Name p.1 ×291
linked org Sinar Mas p.38 ×25
linked org Bumi Serpong Damai Tbk p.38 ×95
linked person Rizal E. Halim p.55
linked person Paraga Artamida p.58 ×11
linked org PT Ekacentra Usahamaju. p.58 ×6
linked org PT Bumi Serpong p.58 ×11
linked org Puradelta Lestari Tbk p.58 ×29
linked org Suryamas Dutamakmur Tbk p.59 ×11
linked org Bank Central Asia Tbk p.61 ×5
linked org Sinar Mas Multiartha Tbk p.63 ×5
linked org Dian Swastatika Sentosa Tbk p.63 ×11
linked org Pabrik Kertas Tjiwi Kimia Tbk p.63 ×11
linked org Sinarmas Land Limited · Commissioner p.63 ×15
linked org Dana Pensiun p.77
linked org SCB SG S/A Bank J. p.78
linked org DBS Bank LTD S/A p.79
linked org The Northern Trust p.79
linked org Kurniasubur Permai p.80 ×2
linked org Kawan Lama p.109 ×2
linked person Sigit Priawan Djokosoetono p.160
linked org Mayora Indah Tbk p.160 ×2
linked org Allo Bank Indonesia p.160 ×2
linked org Adira Dinamika Multi Finance p.160
possible org Bursa Efek Indonesia p.9 ×3
possible org Otoritas Jasa Keuangan p.9 ×3
possible person MUKTAR WIDJAJA · Wakil Komisaris Utama p.28 ×15
possible person Syarifudin SH · Notaris p.39 ×2
possible — Central Business p.47
possible person Franciscus Xaverius R. · President Commissioner p.55 ×7
possible org Properties Ltd. p.63
possible org PT ASABRI p.67 ×2
possible — Ali Umar p.79
possible person Prof. DR. Satrio p.85
possible person Nasaruddin Umar p.95 ×2
possible person Dr. Aviliani p.160 ×4
unresolved org PT Duta p.8 ×2
unresolved org Pertiwi Tbk. p.8 ×2
unresolved org PT Sinartama Gunita Share Registrar p.9
unresolved org Indonesia Stock Exchange p.9
unresolved org Bank Indonesia p.9 ×5
unresolved org Financial Services Authority p.9 ×3
unresolved org Bank Indonesia’s p.23
unresolved org Pusat Statistik p.29
unresolved person Mohamad Said Tadjoedin p.39
unresolved person Notary Mohamad Said · Notaris p.39
unresolved person Tadjoedin p.39
unresolved org Menteri Kehakiman p.39
unresolved org Minister of Justice of RI p.39
unresolved org Menteri p.39
unresolved org Rooms Inc. p.44 ×9
unresolved org Rooms Inc. Featuring Inc. p.53
unresolved person Prof. DR. Susiyati p.55 ×2
unresolved person Chairwoman · President Commissioner p.55 ×2
unresolved person Hongky J. Nantung · Member p.55 ×3
unresolved person Laki-laki Male · Direktur Utama p.58 ×3
unresolved org John R. Hundley Inc. p.58
unresolved org Hundley Inc. p.58
unresolved org Serpong Damai Tbk p.58 ×2
unresolved person Deputy · Direktur p.58
unresolved org PT Pembangunan Deltamas p.58 ×2
unresolved org PT Pembangunan Deltam · Director p.58
unresolved person Vice · Wakil Presiden Direktur p.58 ×3
unresolved org Damai Tbk p.58 ×7
unresolved org PT Paraga Artamida Vice p.58
unresolved org Perini Corp. p.58 ×2
unresolved org PT Pembangunan Deputy p.60
unresolved org PT Excelcomindo Pratama p.60 ×2
unresolved org PT Pembangunan Deltamas Sarjana Administrasi Bisnis p.63
unresolved org PT Pembangunan Bachelor’s p.63
unresolved org PT Sinar Mas Agro p.63 ×2
unresolved org Technology Tbk p.63 ×11
unresolved org PT Sinar Mas Agro Resources p.63 ×7
unresolved org AFP Properties Ltd. p.63 ×2
unresolved org AFP Properties Technology Tbk p.63
unresolved org Utama Golden Agri Resources Ltd p.63
unresolved org Executive Officer Sinarmas Land Ltd. p.63
unresolved org Golden Agri Resources Ltd p.63
unresolved org Agri Resources Ltd p.63
unresolved org PT Indah Kiat Pulp p.63 ×3
unresolved org Paper Tbk p.63 ×4
unresolved org PT Bumi Serpong Rangkap p.63
unresolved org PT Ekacentra Usahamaju Affiliation p.64
unresolved org PT Duta Kepemilikan Saham Langsung p.64
unresolved org Langsung Pertiwi Tbk p.64
unresolved org PT Putra Satria Prima p.64
unresolved org PT Indulexco p.64 ×2
unresolved person PROF. DR. TEDDY PAWITRA Dasar Pengangkatan Perdana · Komisaris Independen p.65 ×12
unresolved org PT Duta Gender p.65
unresolved org PT Sinar Mas Agro Resources Laki-laki Male p.65
unresolved org PT Indah Kiat Airlangga p.65
unresolved org Bank Internasional Indonesia Doctorate p.65
unresolved org Bank International Erasmus University p.65
unresolved org PT Star Engines Indonesia p.65
unresolved org PT Star Engines Indonesia Universitas Airlangga p.65
unresolved org PT Lima Satrya Nirwana p.65
unresolved org PT Lima Satrya Nirwana Committee p.65
unresolved org PT German Motors Manufacturing p.66
unresolved org PT Star Motors Indonesia p.66 ×2
unresolved org PT Gading Mas Surabaya p.66 ×2
unresolved person Drs. Utomo p.66 ×2
unresolved person PROF. DR. SUSIYATI BAMBANG HIRAWAN Dasar Pengangkatan Perdana · Komisaris Utama p.67 ×10
unresolved org PT Sinar Mas Agro Resources Gender p.67
unresolved org PT Wanita Female p.67
unresolved org PT Rekayasa Industri p.67
unresolved org PT Rekayasa University p.67
unresolved org PT Pupuk Sriwijaya p.67 ×2
unresolved org Departemen Keuangan Republik Indonesia Head of Regional Financial Analysis Bureau p.67
unresolved org PT Bumi Serpong Independent p.68
unresolved org Tetap p.77
unresolved org Yayasan p.77
unresolved org Appointed Controller Sinarmas Land Limited p.78
unresolved org PT Ekacentra p.78 ×2
unresolved org Limited Liability Company Institusi Asing Eurotrade Developments Limited p.78
unresolved org Foreign Institution Institusi Asing Morning Bright Investments Limited p.78
unresolved org Reksa Dana Panin Dana Maksima - p.78
unresolved org Institusi Asing Ltd. p.78
unresolved org Foreign Institution Institusi Asing DBS Bank LTD p.79
unresolved org Koperasi Koperasi Unit Desa Lubuk Alung III p.79
unresolved org PT Infiniti Securities p.79
unresolved org PT Duti Diamond Development p.80
unresolved org PT Kembangan Permai Development p.80
unresolved org PT Mitrakarya Multiguna p.80 ×2
unresolved org PT Mustika Karya Sejati p.80 ×2
unresolved org PT Itomas Kembangan Perdana p.80 ×2
unresolved org PT Pangeran Plaza Utama p.80 ×2
unresolved org PT Anekagriya Buminusa p.80 ×2
unresolved org PT Saranapapan Ekasejati p.80 ×2
unresolved org PT Kanaka Grahaasri p.80 ×2
unresolved org PT Perwita Margasakti Commercial p.80
unresolved org PT Mekanusa Cipta p.80 ×3
unresolved org PT Phinisindo Zamrud Ceased Operation p.80
unresolved org PT Prima Sehati Apartment p.80
unresolved org PT Prestasi Mahkota Utama p.80 ×2
unresolved org PT Putra Prabukarya p.80 ×2
unresolved org PT Putra Alvita Pratama p.80 ×2
unresolved org PT Putra Tirta Wisata Badan Kerjasama Pasar Pagi p.80
unresolved org Kerjasama Pasar Pagi p.80
unresolved org PT Citraagung Tirtajatim p.80
unresolved org PT Panca Lambang Cipta p.80 ×2
unresolved org PT Duta Karya Propertindo p.80 ×2
unresolved org PT Sahabat Duta Wisata p.80
unresolved org PT Royal Oriental Sinar Mas Land Jakarta Tower p.80
unresolved org PT Duta Semesta Mas p.80 ×2
unresolved org PT Sahabat Kota Wisata p.80
unresolved org PT Keikyu Itomas Indonesia p.80
unresolved org PT Sinarwijaya Ekapratista p.80 ×2
unresolved org PT Matra Olah Cipta p.80
unresolved org PT Sinarwisata Lestari p.80 ×2
unresolved org PT Misaya Properindo p.80 ×2
unresolved org PT Sinarwisata Permai p.80 ×2
unresolved org PT Kurniasubur Permai Cibubur p.80
unresolved org PT Binamaju Mitra Sejati Wisata Bukit Mas p.80
unresolved org PT Kurnia Sinergi Mas p.80 ×2
unresolved org PT Wijaya Pratama Raya DP Mall p.80
unresolved org PT Anekagriya p.81
unresolved org PT Kanaka p.81
unresolved org PT Prima Sehati p.81 ×2
unresolved org PT Putra Prabukarya Real Estate p.81
unresolved org PT Duta Karya p.81
unresolved org PT Itomas p.81
unresolved org PT Kembangan p.81
unresolved org PT Kurniasubur p.81
unresolved org PT Kurnia Sinergi p.81
unresolved org PT Misaya p.81
unresolved org PT Mitrakarya p.81
unresolved org PT Mustika p.81
unresolved org PT Pangeran Plaza p.82
unresolved org PT Saranapapan p.82
unresolved org PT Perwita p.82
unresolved org PT Phinisindo p.82
unresolved org PT Prestasi Mahkota Real Estate p.82
unresolved org PT Putra Alvita p.82
unresolved org PT Panca Lambang p.82
unresolved org PT Putra Tirta p.82
unresolved org PT Royal p.82
unresolved org PT Sinarwijaya p.82
unresolved org PT Sinarwisata p.82 ×2
unresolved org PT Wijaya Pratama p.82
unresolved org PT Binamaju Mitra p.83
unresolved org PT Citraagung Tirta p.83
unresolved org PT Keikyu p.83
unresolved org PT Matra Olahcipta p.83
unresolved org PT Sahabat p.83 ×2
unresolved org Kerjsama p.83
unresolved org PT Duti Diamond p.83 ×2
unresolved org PT Kembangan Permai p.84
unresolved org PT Perwita Margasakti p.85
unresolved org PT Phinisindo Zamrud Nusantara p.85
unresolved org PT Putra Tirta Wisata p.85
unresolved org PT Royal Oriental p.85
unresolved person KH. Hasyim Ashari Km. p.85
unresolved org PT Wijaya Pratama Raya p.85 ×3
unresolved org Moore Global Network Limited p.87 ×3
unresolved org Benedictus Yuliando Unqualified Opinion Limited p.87 ×2
unresolved org Leo Susanto Unqualified Opinion Limited p.87 ×3
unresolved org Capital Market Supporting Institutions p.88
unresolved org PT Duti p.91
unresolved org PT Itomas Kembangan Perdana. Grand Opening p.93
unresolved org Menteri Agama Republik Indonesia p.95
unresolved org Minister of Religion p.95
unresolved org Kantor Akuntan Publik Mirawati Sensi Idris p.112 ×2
unresolved person Teky Mailoa · Direktur Utama p.148 ×4
unresolved person Handoko Wibowo · Direktur p.148 ×5
unresolved person Lie Jani Harjanto p.148 ×3
unresolved person Hongky Jeffry Nantung · Direktur p.148 ×3
unresolved org Kementerian Hukum RI p.151
unresolved org Menteri Hukum RI. Granting p.151
unresolved org Ministry of Law p.151
unresolved org Minister of Law p.151
unresolved org PT MRT Jakarta Lie Jani Harjanto p.160
unresolved org PT MRT Jakarta Strategy Leadership p.160
unresolved org PT Allo Bank Indonesia Shaping p.160
unresolved org PT Adira Dinamika Multi Finance Handoko Wibowo p.160
unresolved org PT Allo Bank Indonesia Catatan Notes EMP p.160

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