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Page 1
Navigating
Transformation,
Securing
Future Growth
Menavigasi Transformasi, Mengamankan
Pertumbuhan di Masa Depan




                                                             Laporan Tahunan dan



                                                                 2025
                                                                   Keberlanjutan



                                                                      Annual and
                                                             Sustainability Report
      Annual and Sustainability Report 2025   PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                    1
Page 2
Sanggahan dan Batasan
Tanggung Jawab
Disclaimer and Scope of Responsibilities




Laporan Tahunan dan Laporan Keberlanjutan 2025 PT               The 2025 Annual Report and Sustainability Report of PT
Cakra Buana Resources Energi Tbk (yang selanjutnya              Cakra Buana Resources Energi Tbk (hereinafter referred
disebut Perseroan) disusun berdasarkan Peraturan                to as the Company) was prepared based on the Financial
Otoritas Jasa Keuangan No. 29/POJK.04/2016 tentang              Services Authority Regulation No.29/POJK.04/2016
Laporan Tahunan Emiten atau Perusahaan Publik serta             on Annual Reports of Issuers or Public Companies
Peraturan Otoritas Jasa Keuangan No. 51/ POJK.03/2017           and Financial Services Authority Regulation No. 51/
tentang Penerapan Keuangan Berkelanjutan bagi                   POJK.03/2017 on the Implementation of Sustainable
Lembaga Jasa Keuangan, Emiten, dan Perusahaan                   Finance for Financial Services Institutions, Issuers and
Publik. Muatan konten laporan ini sesuai dengan Surat           Public Companies. The content of this report is in line
Edaran Otoritas Jasa Keuangan No. 16/SEOJK.04/2021              with Financial Services Authority Circular Letter No. 16/
tentang Bentuk dan Isi Laporan Tahunan Emiten atau              SEOJK.04/2021 on the Format and Content of Annual
Perusahaan Publik.                                              Reports of Issuers or Public Companies.
Laporan ini memuat informasi terkait prinsip-prinsip            This report contains information about the sustainability
keberlanjutan dalam seluruh aspek bisnis yang dijalankan        principles in all aspects of the business conducted as well
serta kinerja ekonomi, sosial, dan lingkungan Perseroan         as the Company’s economic, social, and environmental
selama periode 1 Januari 2025 hingga 31 Desember                performances for the period from January 1, 2025 to
2025, disertai dengan perbandingan kinerja tahun-tahun          December 31, 2025, accompanied with performance
sebelumnya. Selain itu, Laporan Tahunan dan Laporan             comparison of previous years. This Annual Report and
Keberlanjutan ini menyajikan informasi terkait proyeksi kerja   Sustaibality Report also presents information regarding
Perseroan di tahun selanjutnya yang disusun berdasarkan         Company’s work projections for the coming years, which
pernyataan-pernyataan prospektif dan berbagai asumsi            are prepared based on the prospective statements
mengenai kondisi mendatang Perseroan, serta lingkungan          and various assumptions about the future conditions
bisnis yang terkait, sehingga dapat mengakibatkan               of the Company, as well as the business environment
perkembangan aktual secara material berbeda dari yang           concerned, which may resulted in actual development
dilaporkan. Oleh karena itu, Perseroan menghimbau agar          that may be materially different from those reported.
pemangku kepentingan dapat menggunakan informasi                Therefore, the Company urges the stakeholders to use
tersebut secara bijak dalam pengambilan keputusan.              such information wisely in making decisions.


Informasi lebih lanjut terkait laporan ini dan muatan di        Further information regarding this report and its
dalamnya dapat diperoleh melalui :                              contents may be obtained through:


                                                      Amanda Octania
                                       Sekretaris Perusahaan / Corporate Secretary
                                           Sahid Sudirman Center lt. 42 Unit B
                                              Jl. Jenderal Sudirman Kav. 86
                                                   Jakarta Selatan 10220
                                                   Telp : (021) 2585 8070
                                                Situs Web: www.cbre.co.id
                                          Email : corporate.secretary@cbre.co.id


  2         PT CAKRA BUANA RESOURCES ENERGI Tbk                                        Laporan Tahunan dan Keberlanjutan 2025
Page 3
2025
                                                                            Navigating
                                                                            Transformation,
                                                                            Securing
                                                                            Future Growth
                                                                            Menavigasi Transformasi, Mengamankan
                                                                            Pertumbuhan di Masa Depan




Penjelasan Tema
Theme Explanation



                                                                                                                   Laporan Tahunan dan



                                                                                                                     2025
                                                                                                                         Keberlanjutan



                                                                                                                            Annual and
                                                                                                                   Sustainability Report




Navigating Transformation,
Securing Future Growth
Menavigasi Transformasi, Mengamankan
Pertumbuhan di Masa Depan

Melalui tema ini, Perseroan berkomitmen untuk                Through this theme, the Company is committed
memperkuat langkah strategis ke depan. Sepanjang             to strengthening its strategic steps going forward.
tahun 2025, Perseroan tidak hanya berfokus pada              Throughout 2025, the Company not only focused on
penguatan kinerja operasional di sektor transportasi         strengthening operational performance in the water
perairan, tetapi juga mulai memperluas portofolio usaha      transportation sector but also began expanding its
ke segmen minyak dan gas melalui pengembangan                business portfolio into the oil and gas segment through
layanan maritim yang lebih spesialis. Transformasi ini       the development of more specialized maritime services.
dijalankan dengan pendekatan yang cermat, didukung           This transformation has been carried out with a prudent
oleh penguatan struktur permodalan, peningkatan              approach, supported by a strengthened capital structure,
kualitas armada, serta penerapan tata kelola                 enhanced fleet quality, and the implementation of good
perusahaan yang baik guna memastikan keberlanjutan           corporate governance to ensure business sustainability
dan ketahanan usaha di tengah dinamika industri.             and resilience amid industry dynamics.


Di sisi lain, frasa “Securing Future Growth” merefleksikan   Furthermore, the phrase “Securing Future Growth”
komitmen Perseroan untuk membangun fondasi                   reflects the Company’s commitment to building a solid
pertumbuhan jangka panjang melalui pengelolaan               foundation for long-term growth through disciplined
risiko yang terukur, peningkatan efisiensi operasional,      risk management, improved operational efficiency,
pemeliharaan standar keselamatan dan kepatuhan,              adherence to safety and compliance standards, and
serta penguatan hubungan dengan pelanggan dan                strengthened relationships with customers and business
mitra usaha. Dengan menjaga keseimbangan antara              partners. By maintaining a balanced approach between
ekspansi usaha dan penerapan prinsip keberlanjutan,          business expansion and sustainability principles, the
Perseroan berupaya memastikan bahwa setiap langkah           Company seeks to ensure that each transformation
transformasi yang diambil mampu menciptakan nilai            initiative generates sustainable value for its Shareholders
tambah yang berkelanjutan bagi Pemegang Saham dan            and all stakeholders.
seluruh pemangku kepentingan.




Annual and Sustainability Report 2025                             PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                           1
Page 4
Daftar Isi
Table of Contents
                                                               Profil Perusahaan
                                                         03 Company Profile
                                                          64   Profil Dewan Komisaris
                                                               Board of Commissioners Profile
      Tema                                                68   Profil Direksi
 1
      Theme                                                    Directors Profile

      Daftar Isi                                          71   Profil Komite Audit
 2                                                             Audit Committee Profile
      Table of Contents
                                                          74   Profil Sekretaris Perusahaan
                                                               Corporate Secretary Profile
                                                          75   Profil Unit Audit Internal
      Kilas Kinerja
01    Performance Highlights
                                                          76
                                                               Internal Audit Unit Profile
                                                               Informasi Pemegang Saham
                                                               Shareholders Information
      Strategi Keberlanjutan
 6
      Sustainability Strategy                             78   Pemegang Saham Utama dan Pengendali
                                                               Major and Controlling Shareholders
      Ikhtisar Kinerja Keberlanjutan
 12
      Sustainability Performance Highlights               79   Hubungan Kepengurusan dan Pengawasan
                                                               Perseroan dengan Pemegang Saham Berbentuk
      Ikhtisar Saham
 18                                                            Badan Hukum/Company’s Management and
      Share Highlights
                                                               Supervision Relationship with Shareholders of Legal
      Aksi Korporasi dan Aktivitas Perdagangan Saham           Entities
 19
      Corporate Actions and Stock Trading Information
                                                          80   Pemegang Saham Perseroan Berbentuk Badan
      Informasi Mengenai Obligasi, Sukuk, dan Obligasi         Hukum
 20   Konversi/Information on Bonds, Sukuk or                  Company Shareholders of Legal Entities
      Convertible Bonds
                                                          81   Kronologi Pencatatan Saham
      Peristiwa Penting                                        Chronology of Share Listing
 21
      Event Highlight
                                                          81   Kronologi Pencatatan Efek Lainnya
      Keanggotaan Asosiasi                                     Chronology of Other Securities Listing
 22
      Association Membership
                                                          81   Entitas Anak dan Entitas Asosiasi
      Penghargaan dan Sertifikasi                              Subsidiaries and Associated Entities
 22
      Award and Certification
                                                          82   Lembaga Penunjang Pasar Modal
                                                               Capital Market Supporting Institution
                                                          83   Akses Informasi
      Laporan Manajemen
02
                                                               Information Access
      Management Report                                   84   Informasi pada Situs Web
                                                               Information on the Website
 26   Laporan Dewan Komisaris
      Report of The Board of Commissioners
 32   Laporan Direksi
      Report of The Board of Directors                         Analisis Dan Pembahasan Manajemen
                                                         04 Management Discussion And Analysis
                                                          88   Tinjauan Ekonomi dan Industri
      Profil Perusahaan
03 Company Profile                                             Economic and Industry Review
                                                          91   Tinjauan Operasional
 40   Identitas Perusahaan                                     Operational Review
      Company identity                                    92   Aspek Pemasaran
                                                               Marketing Aspect
 42   Jejak Langkah
      Milestones                                          94   Tinjauan Keuangan
                                                               Financial Review
 43   Riwayat Singkat
      Brief History                                      101   Nilai Ekonomi Langsung yang Dihasilkan dan
                                                               Didistribusikan/Direct Economic Value Generated
 44   Visi, Misi, dan Nilai Perusahaan                         and Distributed
      Company Vision, Mission and Values
                                                         102   Rasio Keuangan
 46   Bidang Usaha                                             Financial Ratios
      Business Sector                                    103   Tingkat Kolektibilitas Piutang
 60   Wilayah Operasional                                      Receivables Collectability Rate
      Operational Areas                                  104   Struktur Modal dan Kebijakan Manajemen atas
 62   Struktur Organisasi                                      Struktur Modal/ Capital Structure and Management
      Organizational Structure                                 Policy on Capital Structure




 2        PT CAKRA BUANA RESOURCES ENERGI Tbk                                  Laporan Tahunan dan Keberlanjutan 2025
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         Analisis Dan Pembahasan Manajemen                            Tata Kelola Perusahaan
 04 Management Discussion And Analysis                          05 Good Corporate Governance
  104    Realisasi Penggunaan Dana Hasil Penawaran Umum         137   Komite Audit
         Realization of Use of Public Offering Proceeds               Audit Committee
  105    Kebijakan dan Pembagian Dividen                        141   Fungsi Nominasi dan Remunerasi
         Dividend Distribution and Policy                             Nomination and Remuneration Function
  105    Program Kepemilikan Saham Karyawan dan/atau            142   Sekretaris Perusahaan
         Manajemen/Employee and/or Management Share                   Corporate Secretary
         Ownership Program                                      144   Unit Audit Internal
  105    Investasi Barang Modal                                       Internal Audit Unit
         Capital Goods Investment                               147   Sistem Pengendalian Internal
  106    Ikatan Material terkait Investasi Barang Modal/              Internal Control System
         Material Commitment Related to Capital Goods           148   Sistem Manajemen Risiko
         Investment                                                   Risk Management System
  106    Informasi Material terkait Investasi, Ekspansi,        154   Perkara Penting dan Sanksi Administrasi
         Divestasi, Penggabungan/Peleburan Usaha,                     Significant Cases and Administrative Sanctions
         Akuisisi, atau Restrukturisasi Utang/Modal/Material
         Information on Investment, Expansion, Divestment,      154   Kode Etik
         Business Merger/Consolidation, Acquisition, or Debt/         Code of Ethics
         Capital Restructuring                                  155   Kebijakan Anti-Korupsi dan Gratifikasi
  107    Transaksi Material yang Mengandung Benturan                  Anti-Corruption and Gratification Policy
         Kepentingan atau Transaksi dengan Pihak Afiliasi       156   Kebijakan Insider Trading
         Material Transactions Containing Conflicts of                Insider Trading Policy
         Interest or Transactions with Affiliated Parties       156   Sistem Pelaporan Pelanggaran
  107    Informasi Material Setelah Tanggal Laporan                   Whistleblowing System
         Keuangan/Material Information After the Date of        157   Penerapan Pedoman Tata Kelola Perusahaan
         Financial Statements                                         Terbuka/Implementation of Public Company
  107    Perubahan Peraturan Perundang-Undangan yang                  Governance Guidelines
         Berdampak Signifikan terhadap Perusahaan/
         Regulatory Changes with Significant Impact to the
         Company
  108    Perubahan Kebijakan Akuntansi
                                                                      Laporan Keberlanjutan
                                                                06 Sustainability Report
         Changes in Accounting Policy
  108    Prospek Usaha
         Business Prospects
  109    Perbandingan Target dan Realisasi Tahun 2025           164   Sambutan Direksi
         Comparison of Targets and Realization for 2025               Message from the Board of Directors

  109    Proyeksi 2026                                          170   Komitmen Keberlanjutan
         2026 Projection                                              Sustainability Commitment
                                                                170   Tata Kelola Keberlanjutan
                                                                      Sustainability Governance
                                                                172   Keberlanjutan Sosial
                                                                      Social Sustainability

         Tata Kelola Perusahaan                                 185   Keberlanjutan Lingkungan
 05 Good Corporate Governance                                         Environmental Sustainability
                                                                191   Lembar Umpan Balik
  112    Komitmen Penerapan GCG                                       Feedback Sheet
         GCG Implementation Commitment
                                                                192   Tanggapan terhadap Umpan Balik Tahun
  112    Struktur GCG                                                 Sebelumnya/Response to Feedback from Previous
         GCG Structure                                                Year
  113    Prinsip GCG
                                                                193   Indeks Pengungkapan Kriteria Peraturan Otoritas
         GCG Principles
                                                                      Jasa Keuangan No. 51/POJK.03/2017/Financial
  114    Rapat Umum Pemegang Saham                                    Services Authority Regulation Criteria Disclosure
         General Meeting of Shareholders                              Index No. 51/POJK.03/2017
  122    Dewan Komisaris                                        197   Daftar Pengungkapan Metrik Pelaporan ESG
         Board of Commissioners                                       Disclosure List of ESG Reporting Metrics
  127    Direksi
         Board of Directors
  132    Informasi Lain terkait Dewan Komisaris dan Direksi
         Other Information Related to the Board of                    Laporan Keuangan
         Commissioners and Board of Directors                   07 Financial Statement


Annual and Sustainability Report 2025                              PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                       3
Page 6
        Ikhtisar
        Perseroan
        Company’s
        Highlights




4   PT CAKRA BUANA RESOURCES ENERGI Tbk   Laporan Tahunan dan Keberlanjutan 2025
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Annual and Sustainability Report 2025   PT CAKRA BUANA RESOURCES ENERGI Tbk
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         Ikhtisar Perseroan           Laporan Manajemen                Profil Perusahaan
         Company Summary              Management Report                Company Profile




Strategi Keberlanjutan [POJK51.A1]
Sustainability Strategy [POJK51.A1]
Pada tahun 2025, Perseroan semakin mempertegas                In 2025, the Company further reinforced its commitment
komitmennya dalam mewujudkan praktik keberlanjutan            to advancing sustainability practices through various
melalui berbagai inisiatif strategis yang selaras dengan      strategic initiatives aligned with the Company’s
transformasi bisnis Perseroan. Upaya tersebut mencakup        business transformation. These efforts include
pengelolaan aset dan sumber daya operasional secara           responsible management of assets and operational
bertanggung jawab, penerapan standar keselamatan dan          resources, the implementation of high standards of
keandalan operasional yang tinggi, serta pengendalian         safety and operational reliability, as well as measured
dampak lingkungan secara terukur dan berkelanjutan.           and sustainable control of environmental impacts.


Berikut strategi keberlanjutan yang dijalankan oleh           The following are the sustainability            strategies
Perseroan.                                                    implemented by the Company.

                   Strategi Perseroan                                              Manfaat
                   Company Strategy                                                Benefits

                                             Keuangan Berkelanjutan
                                            Sustainable Finance Strategy

 - Voyage optimization (shortest route + weather           Strategi yang dijalankan memberikan manfaat pada
   routing)                                                Efisiensi biaya bahan bakar sebagai komponen biaya
 - Slow steaming (pengurangan konsumsi BBM/fuel            terbesar serta memberi dampak penurunan emisi pada
   consumption optimization)                               kegiatan operasional.
 - Monitoring fuel real-time
                                                           The implemented strategies deliver benefits in the
                                                           form of improved fuel cost efficiency as the largest cost
                                                           component while also contributing to reduced emissions
                                                           in operational activities.

                                               Manajemen Risiko ESG
                                               ESG Risk Management

 -   Jadwal preventive maintenance kapal
     Scheduled preventive vessel maintenance
 -   SOP ketat untuk fuel handling & waste disposal
     Strict SOPs for fuel handling and waste disposal
 -   Monitoring real-time: Fuel consumption (indikasi      Tercapainya peningkatan pengendalian pada kegiatan
     kebocoran/inefficiency), Engine performance           operasional, mitigasi risiko kebocoran, inefisiensi, serta
     Real-time monitoring of fuel consumption              perlindungan terhadap aset yang berjalan secara optimal.
     (to detect leakage/inefficiency) and engine
                                                           Achieved enhanced control over operational activities,
     performance                                           effective mitigation of leakage and inefficiency risks, and
 -   Audit operasional berkala                             optimal protection of assets.
     Periodic operational audits
 -   Optimalkan Asuransi Hull & machinery dan
     Protection & Indemnity (P&I)
     Optimization of Hull & Machinery (H&M) and
     Protection & Indemnity (P&I) insurance coverage




  6         PT CAKRA BUANA RESOURCES ENERGI Tbk                                     Laporan Tahunan dan Keberlanjutan 2025
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                  Analisa dan Pembahasan Manajemen               Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis             Corporate governance             Sustainability Report




                     Strategi Perseroan                                              Manfaat
                     Company Strategy                                                Benefits

                                              Tata kelola yang baik (GCG)
                                            Good Corporate Governance (GCG)

 -   Minutes of meeting yang mencatat keputusan
     strategis (dapat diaudit)/Documented minutes
     of meetings capturing strategic decisions
     (auditable)
 - Implementasi Anti-Bribery & Corruption Policy/
   Implementation of an Anti-Bribery & Corruption
   Policy
 - Whistleblowing System (WBS) yang Berfungsi/
   Establishment of a functional Whistleblowing            -   Perseroan mampu mencegah dan mendeteksi
   System (WBS)                                                kemungkinan terjadinya fraud, meningkatkan
                                                               transparansi./The Company is able to prevent and
 -   Transparansi & Keterbukaan Informasi/
                                                               detect potential fraud, while enhancing transparency.
     Transparency and disclosure of information
 -   Pengendalian Internal (Internal Control System)       -   Kemudian memberikan panduan yang jelas terhdap
     menerapkan dual approval/Implementation of                setiap individu atau oragan Perseroan mematuhi
     an Internal Control System with dual-approval             aturan melalui tindakan preventif sehingga
     mechanisms                                                memperkuat kepercayaan pada seluruh pemangku
 -   Deklarasi tahunan Direksi & manajemen/Annual              kepentingan./It also provides clear guidance for
     declarations by the Board of Directors and                all individuals and organizational units within
     management                                                the Company to comply with regulations through
                                                               preventive measures, thereby strengthening trust
 -   Semua transaksi afiliasi terdokumentasi &
                                                               among all stakeholders.
     disclose/All related-party transactions are
     properly documented and disclosed
 -   Tender minimal 3 vendor/Procurement through a
     minimum of three vendors
 -   Approval berlapis (operasional + finance +
     Direksi)/Layered approval process (operational,
     finance, and Board levels)
 -   Audit pasca docking/Post-docking audits

                                               Pembangunan Derkelanjutan
                                                Sustainable Development

 -   Diversifikasi Investasi Aset Berbasis                 -   Tujuan dari diversifikasi investasi aset berbasis
     Keberlanjutan/Diversification of sustainable              keberlanjutan adalah untuk menjaga stabilitas
     asset-based investments                                   pendapatan sekaligus menurunkan risiko bisnis
 -   Pemberdayaan Masyarakat Sekitar/Community                 utama./The objective of diversifying sustainable
     empowerment initiatives                                   asset-based investments is to maintain revenue
                                                               stability while reducing core business risks.

                                                           -   Sedangkan pemberdayaan masyarakat sekitar, sebagai
                                                               wujud kepedulian terhadap sesama, melalui sebagian
                                                               pendapatan yang dialokasikan secara sistematis
                                                               untuk program sosial & SDM./Meanwhile, community
                                                               empowerment initiatives reflect the Company’s
                                                               commitment to social responsibility, with a portion of
                                                               revenue systematically allocated to social and human
                                                               capital development programs.




Annual and Sustainability Report 2025                               PT CAKRA BUANA RESOURCES ENERGI Tbk
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        Ikhtisar Perseroan            Laporan Manajemen                Profil Perusahaan
        Company Summary               Management Report                Company Profile




Topik Material Dalam Pelaporan                                Material Topics In Reporting
Perseroan menetapkan topik material, yaitu isu-isu yang       The Company identifies material topics, defined as
dinilai paling signifikan dan relevan terhadap kegiatan       issues deemed most significant and relevant to its
usaha dan keberlanjutan Perseroan. Penetapan topik            business activities and sustainability. The identification
material dilakukan melalui serangkaian tahapan analisis       process is conducted through a systematic and
yang sistematis dan terstruktur, guna memastikan              structured analytical approach to ensure that disclosed
bahwa informasi yang diungkapkan mencerminkan                 information reflects the key issues affecting the
isu-isu utama yang berpengaruh terhadap kinerja               Company’s sustainability performance. The materiality
keberlanjutan Perseroan. Adapun proses penetapan              determination process is outlined as follows.
topik material tersebut diuraikan sebagai berikut.


    Perencanaan         Tahap persiapan penyusunan Laporan Keberlanjutan. / Preparation stage of the Sustainability
      Planning          Report.

                        Pemeringkatan isu-isu penting yang dianggap signifikan berpengaruh bagi Perseroan dan
    Prioritasisasi
                        pemangku kepentingan. / Ranking of important issues deemed to have significant influence
    Prioritization
                        on the Company and stakeholders.

     Identifikasi       Identifikasi isu-isu penting yang relevan dengan melibatkan pemangku kepentingan Perseroan.
    Identification      / Identification of key relevant issues by involving the stakeholders.

       Validasi         Setiap isu dipresentasikan kepada manajerial tertinggi Perseroan untuk disetujui. / Each issue
      Validation        is presented to the Company’s highest management for approval.

    Penyusunan          Pengumpulan dan analisis data yang dianggap perlu terkait isu yang terpilih untuk disajikan
     Laporan            di dalam Laporan Keberlanjutan. / Collection and analysis of required data in relation to the
 Report Preparation     selected issues to be presented in the Sustainability Report.




  8        PT CAKRA BUANA RESOURCES ENERGI Tbk                                      Laporan Tahunan dan Keberlanjutan 2025
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                  Analisa dan Pembahasan Manajemen                    Tata Kelola Perusahaan              Laporan Keberlanjutan
                  Management Discussion and Analysis                  Corporate governance                Sustainability Report




Pelibatan Pemangku Kepentingan                                     Stakeholder Engagement [POJK51-E.4]
[POJK51-E.4]



Perseroan melibatkan pemangku kepentingan secara                   The Company actively engages stakeholders in the
aktif dalam perumusan dan pelaksanaan inisiatif                    formulation and implementation of sustainability
keberlanjutan sebagai bentuk komitmen untuk                        initiatives as a commitment to understanding the
memahami kebutuhan dan harapan para pemangku                       needs and expectations of both internal and external
kepentingan, baik internal maupun eksternal. Dalam                 stakeholders. In this process, the Company refers to the
proses tersebut, Perseroan mengacu pada AA1000                     AA1000 Stakeholder Engagement Standard (SES) 2015
Stakeholder Engagement Standard (SES) 2015 guna                    to ensure that stakeholder engagement is conducted
memastikan keterlibatan pemangku kepentingan                       in an effective and structured manner. This standard
dilakukan secara efektif dan terstruktur. Standar ini              comprises five main components that serve as the
mencakup 5 komponen utama yang menjadi dasar                       foundation for the engagement process, as outlined in
pelaksanaan pelibatan, sebagaimana diuraikan pada                  the following section.
bagian berikut.



          Pengaruh, pihak tersebut memberikan pengaruh terhadap keputusan yang diambil oleh Perseroan terkait
  1.      keberlangsungan usaha. / Influence, the parties influence the decisions taken by the Company regarding
          business continuity.

          Ketergantungan, Perseroan memiliki ketergantungan terhadap pihak tersebut, baik secara langsung maupun
  2.
          tidak langsung. / Dependency, the Company has a dependence on the parties, either directly or indirectly.

          Tanggung jawab, Perseroan memiliki tanggung jawab, baik saat ini atau di masa yang akan datang terhadap
  3.      pihak tersebut. / Responsibility, the Company has a responsibility toward the parties, either now or in the
          future.

          Perhatian, pihak tersebut membutuhkan perhatian dari Perseroan terkait isu ekonomi, sosial, atau lingkungan
  4.      hidup. / Attention, the parties require attention from the Company on the economic, social, or environmental
          issues.

          Perspektif, pihak tersebut dapat memberikan sudut pandang baru yang sebelumnya belum ada terhadap
  5.      isu penting yang relevan. / Perspective, the parties may provide new previously inexistent perspectives on
          relevant important issues.



Perseroan     telah    melakukan identifikasi            dan       The Company has conducted the identification and
pengelompokkan pemangku kepentingan,                    yang       categorization of stakeholders, as described below.
dijelaskan sebagai berikut.


        Pemangku                                                                                       Frekuensi Pelaksanaan
                              Dasar Pemilihan                         Metode
       Kepentingan                                                                                        Implementation
                               Selection Basis                        Method
       Stakeholders                                                                                          Frequency

Pemegang Saham            •   Pengaruh;          •   Rapat Umum Pemegang Saham (RUPS);                Tahunan, triwulan, dan
dan Investor /            •   Tanggung jawab;    •   Paparan Publik;                                  sesuai kebutuhan.
Shareholders and              dan                •   Penyampaian Laporan Tahunan dan                  Annually, quarterly, and as
Investors                 •   Perspektif             Keberlanjutan;                                   needed.
                          •   Influence;         •   Penyampaian Laporan Keuangan; dan
                          •   Responsilibity;    •   Keterbukaan informasi pada situs web Perseroan
                          •   Perspective            dan situs web Bursa Efek Indonesia.
                                                 •   General Meeting of Shareholders (GMS);
                                                 •   Public Expose;
                                                 •   Annual and Sustainability Report Submission;
                                                 •   Financial Statements Submission; and
                                                 •   Information disclosure on the Company’s and
                                                     Indonesia Stock Exchange’s websites.




Annual and Sustainability Report 2025                                    PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                            9
Page 12
        Ikhtisar Perseroan                Laporan Manajemen                    Profil Perusahaan
        Company Summary                   Management Report                    Company Profile




     Pemangku                                                                                           Frekuensi Pelaksanaan
                             Dasar Pemilihan                          Metode
    Kepentingan                                                                                            Implementation
                              Selection Basis                         Method
    Stakeholders                                                                                              Frequency

Karyawan               Tanggung jawab;          Pengembangan kompetensi;                   Tahunan dan sesuai
Employee               Perhatian;               Kegiatan internal dan kegiatan kebersamaan kebutuhan.
                       Pengaruh; dan                karyawan;                              Annually and as needed.
                       Ketergantungan.          Sarana dan prasarana K3; dan
                       Responsibility;          Sarana pengaduan yang efektif.
                       Attention;               Competeny development;
                       Influence; and           Internal activities and company engagement
                       Dependency.                  activities;
                                                OHS facilities and infrastructure; and
                                                Effective complaint facility.

Pelanggan              Ketergantungan;          Pendidikan dan pelatihan keselamatan;          Tahunan dan sesuai
Customers              Tanggung jawab; dan      Menjalin komunikasi dan kunjungan rutin; serta kebutuhan.
                       Perhatian                Menyediakan sarana pengaduan pelanggan.        Annually and as needed.
                       Dependency; and          Safety education and training;
                       Responsibility           Establishing communication and conducting
                                                    regular visits; and
                                                Providing customer complaint channels.

Mitra Kerja            Ketergantungan; dan      Kegiatan bersama mitra kerja;                         Sesuai kebutuhan.
Business Partners      Tanggung jawab.          Peninjauan kontrak kerja berkala; dan                 As needed.
                       Dependency; and          Penyediaan sarana pelaporan mitra kerja.
                       Responsibility           Activities with business partners;
                                                Periodic work contract review; and
                                                Provision of business partner complaint facility.

Pemerintah/regulator Tanggung jawab; dan        Penyampaian Laporan Tahunan dan Keberlanjutan;        Tahunan, bulanan, triwulan,
G o v e r n m e n t / Pengaruh.                 Penyampaian Laporan Bulanan; dan                      dan sesuai kebutuhan.
regulator             Responsilibity; and       Penyampaian Laporan Triwulan.                         Annually, quarterly, and as
                      Influence                 Annual and Sustainability Report Submission;          needed.
                                                Monthly Report Submission; and
                                                Quarterly Report Submission.

Masyarakat             Tanggung jawab;          Program pengembangan masyarakat; dan                  Sesuai kebutuhan.
Community              Ketergantungan;          Penyediaan layanan pengaduan masyarakat.              As needed.
                       Perhatian; dan           Community development program; and
                       Perspektif.              Provision of community complaint facility.
                       Responsibility;
                       Dependency;
                       Attention; and
                       Perspective

Media                  Tanggung jawab.          Penyampaian informasi di situs web Perseroan;         Sesuai kebutuhan.
Media                  Responsibility.          Menjaga hubungan yang baik dengan media; dan          As needed.
                                                Mengiklankan informasi di media terkait.
                                                Information submission on Company’s website;
                                                Maintain good relationships with media; and
                                                Advertise information on related media.




10           PT CAKRA BUANA RESOURCES ENERGI Tbk                                             Laporan Tahunan dan Keberlanjutan 2025
Page 13
                  Analisa dan Pembahasan Manajemen                      Tata Kelola Perusahaan                Laporan Keberlanjutan
                  Management Discussion and Analysis                    Corporate governance                  Sustainability Report




Melalui rangkaian proses tersebut, Perseroan dapat                   Through this series of processes, the Company is
mengidentifikasi dan menetapkan topik-topik material                 able to identify and determine material topics that
yang menjadi prioritas utama dalam pelaksanaan                       constitute the main priorities in the implementation of
program keberlanjutan. Topik-topik material tersebut                 its sustainability programs. These material topics are
diungkapkan pada tabel berikut.                                      disclosed in the following table.


                                                                                                          Batasan Material
                                                                                                         Material Limitations
     Topik Material                                 Alasan Bersifat Material                                           Eksternal
     Material Topic                                     Material Reasons                              Perseroan        Perseroan
                                                                                                      Company          Company’s
                                                                                                                        External
Kinerja Ekonomi      Kinerja keuangan Perseroan berkaitan erat dengan keberlangsungan
Economic Performance usaha dan penghasilan karyawan. / The Company’s financial performance                √                 √
                     is closely related to the business continuity and employee’s income.
Kepegawaian                Karyawan merupakan modal utama Perseroan. Kemampuan dan
Employment                 kesejahteraan memberikan pengaruh terhadap aktivitas bisnis
                           Perseroan, terutama dalam hal pelayanan. / Employee is the Company’s           √                 x
                           main capital. Employee’s capabilities and welfare is affecting the
                           Company’s business activities, especially in terms of service.
Kesehatan dan              Penyediaan lingkungan kerja yang aman dan nyaman, serta ketersediaan
Keselamatan Kerja          sarana dan prasarana K3 sangat penting untuk mengurangi terjadinya
(K3)                       risiko. / Provision of safe and comfortable work environment, and              √                 √
Occupational Health        availability of OHS facilities and infrastructure is important to reduce
and Safety (OHS)           the occurrence of risks.
Pelatihan         dan Pelaksanaan pelatihan dan pendidikan karyawan yang konsisten
Pendidikan             dan efektif, akan meningkatkan produktivitas bisnis Perseroan. /
                                                                                                          √                 √
Training and Education Implementation of a consistent and effective employee training and
                       education will improve the Company’s business productivity.
Penggunaan Energi          Penerapan hemat energi, seperti listrik, bahan bakar minyak, dan air
Energy Use                 harus senantiasa dilakukan untuk menjaga kelestarian lingkungan.
                           / Implementation of energy savings, such as electricity, fuel oil, and         √                 √
                           water should be done continuously to maintain the environmental
                           sustainability.
Limbah                     Pengelolaan limbah yang baik dan bertanggung jawab akan berdampak
Waste                      pada aktivitas operasional yang baik dan mengurangi pencemaran
                           lingkungan di darat maupun di laut. / Good and responsible waste               √                 √
                           management will be leading to good operational activities and reducing
                           environmental pollution on land or at sea.


Verifikasi oleh Pihak Eksternal                                      Material            Topics         in        Reporting
[POJK51-G.1]                                                         [POJK51-G.1]

Pada tahun 2025, Perseroan tidak melibatkan pihak                    In 2025, the Company did not engage any external
eksternal untuk melakukan verifikasi atas Laporan                    parties to conduct verification of the Annual Report and
Tahunan dan Laporan Keberlanjutan. Meskipun                          the Sustainability Report. Nevertheless, the Company
demikian, Perseroan menjamin bahwa penyusunan                        ensures that the preparation of these reports is based
laporan ini mengacu pada data yang akurat dan telah                  on accurate data and has undergone a management
melalui proses peninjauan oleh manajemen.                            review process.




Annual and Sustainability Report 2025                                      PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                11
Page 14
        Ikhtisar Perseroan           Laporan Manajemen                   Profil Perusahaan
        Company Summary              Management Report                   Company Profile




Ikhtisar Kinerja Keberlanjutan
Sustainability Performance Highlights
Keberlanjutan Kinerja Keuangan                                  Sustainability Performance
[POJK51-B.1]
                                                                Highlights [POJK51-B.1]

Posisi Keuangan                                                 Financial Position

                                                                              (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)

               Uraian                 2025                2024               2023                                  Description

Aset Lancar                        54.652.630.147     23.174.847.475    188.232.944.075                                          Current Assets

Aset Tidak Lancar                1.950.591.293.234   310.477.999.697    162.575.289.893                                  Non-Current Assets

Jumlah Aset                      2.005.243.923.381 333.652.847.172 350.808.233.968                                                  Total Assets

Liabilitas Jangka Pendek          809.009.356.783     68.812.722.325     30.040.784.573                                Short-Term Liabilitie

Liabilitas Jangka Panjang        1.149.325.061.844   147.719.629.905    154.067.839.825                               Long-Term Liabilities

Jumlah Liabilitas                1.958.334.418.627 216.532.352.230 184.108.624.398                                            Total Liabilities

Jumlah Ekuitas                    46.909.504.754 117.120.494.942 168.682.894.593                                                    Total Equity

Jumlah Liabilitas dan Ekuitas     2.005.243.923.381 333.652.847.172 352.965.594.591                        Total Liabilities and Equity




Laba Rugi Komprehensif Konsolidasian                            Statements of Comprehensive Profit or
                                                                Loss
                                                                             (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


               Uraian                 2025               2024               2023                                   Description

Pendapatan                        55.163.208.359     62.173.596.046     42.728.166.665                                                    Revenue

Beban Pokok Pendapatan           (53.646.763.562) (56.120.537.866) (27.601.599.420)                                          Cost of Revenue

Laba Bruto                         1.516.444.797      6.053.058.180     15.126.567.245                                              Gross Profit

Beban Usaha                                                                                                             Operating Expenses

  Beban Umum dan Administrasi    (31.790.879.159)    (32.576.623.273)   (12.662.967.591)                                         General and

  Penghasilan (Beban) Usaha                                                                                  Other Operating Income
                                 (20.143.445.664)     (9.726.188.741)       883.142.635
  Lainnya                                                                                                                 (Expenses)

Rugi Usaha                       (50.417.880.026) (36.249.753.834)       3.346.742.289                                         Operating Loss

Beban Keuangan                   (19.275.106.074)    (14.665.557.902)    (1.929.558.019)                                         Financial Cost

Rugi Sebelum Pajak Penghasilan   (69.692.986.100) (50.915.311.736)       1.417.184.270                          Loss Before Income Tax

Beban Pajak Penghasilan             (661.958.500)      (746.083.153)      (512.738.000)                               Income Tax Expenses

Rugi Neto Tahun Berjalan         (70.354.944.600) (51.661.394.889)         904.446.270                               Net Loss for the Year




12            PT CAKRA BUANA RESOURCES ENERGI Tbk                                           Laporan Tahunan dan Keberlanjutan 2025
Page 15
                  Analisa dan Pembahasan Manajemen                       Tata Kelola Perusahaan                             Laporan Keberlanjutan
                  Management Discussion and Analysis                     Corporate governance                               Sustainability Report




                                                                                     (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


               Uraian                        2025              2024                 2023                                  Description

Penghasilan/(Beban)                                                                                           Other Comprehensive Income/
Komprehensif Lain                                                                                                               (Expense)

Pos yang Tidak akan Direklasifikasi                                                                       Item Not be Reclassified to Profit
ke Laba rugi:                                                                                                                       or Loss

   Pengukuran Kembali Imbalan                                                                              Remeasurement of Long-Term
                                            143.448.989         90.259.100        (111.988.896)
   Kerja Jangka Panjang                                                                                           for Employee Benefits

Jumlah Rugi Komprehensif                                                                                       Total Comprehensive Income
                                        (70.211.495.610) (51.571.135.789)          792.457.374
Tahun Berjalan-Neto                                                                                                  (Loss) for the Year-Net

Laba per Saham:                                                                                                                  Earnings per Share:

  Dasar                                          (15,50)            (11,38)                          -                                               Basic



Arus Kas                                                               Cash Flows
                                                                                     (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


               Uraian                        2025              2024                 2023                                  Description

Kas Bersih Diperoleh dari
                                                                                                              Net Cash Provided by (Used in)
(Digunakan untuk) Aktivitas             (57.143.974.768)     6.712.161.739       3.980.971.396
                                                                                                                        Operating Activities
Operasi

Kas Bersih Digunakan untuk                                                                                                         Net Cash Used in
                                        (18.736.950.146) (179.029.767.041)    (53.588.357.454)
Aktivitas Investasi                                                                                                              Investing Activities

Kas Bersih Diperoleh dari                                                                                                     Net Cash Provided by
                                         86.928.535.019      1.983.527.144     220.666.480.422
Aktivitas Pendanaan                                                                                                            Financing Activities

Kenaikan/(Penurunan)                                                                                                  Net Increase/(Decrease)
                                         11.047.610.105 (170.334.078.157)      171.059.094.364
Bersih Kas dan Setara Kas                                                                                        in Cash and Cash Equivalents

                                                                                                                 Cash and Cash Equivalents at
Kas dan Setara Kas Awal Tahun             3.251.404.222    173.585.482.379       2.526.388.016
                                                                                                                    the Beginning of the Year

                                                                                                                 Cash and Cash Equivalents at
Kas dan Setara Kas Akhir Tahun           14.299.014.327      3.251.404.222     173.585.482.379
                                                                                                                          the End of the Year



Rasio Keuangan                                                         Financial Ratios


               Uraian                        2025              2024                 2023                                  Description

                                                                                                                                          (dalam/ in %)

Rasio Pertumbuhan                                                                                                                         Growth Ratio

Pendapatan                                  (11,28)            45,51                29,64                                                         Revenue

Rugi Neto Tahun Berjalan                     36,18            101,75               (87,94)                                    Net Loss for the Year

Jumlah Aset                                 501,00             (5,47)              171,66                                                   Total Assets

Jumlah Liabilitas                           804,41             17,50               377,39                                              Total Liabilities

Jumlah Ekuitas                              (59,95)           (30,57)               84,71                                                   Total Equity

EBITDA                                      (39,10)           (116,18)              2,73                                                            EBITDA




Annual and Sustainability Report 2025                                       PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                       13
Page 16
        Ikhtisar Perseroan         Laporan Manajemen                    Profil Perusahaan
        Company Summary            Management Report                    Company Profile




             Uraian                 2025                 2024                2023                   Description

                                             Rasio Usaha / Operating Ratio

                                                                                                              (dalam/ in %)

Laba Bruto terhadap Pendapatan      2,75                 9,74                35,40                 Gross Profit to Revenue

Laba Bruto terhadap Jumlah Aset     0,08                 1,81                4,29               Gross Profit to Total Assets

Laba Bruto terhadap Jumlah
                                    3,23                 5,17                8,97               Gross Profit to Total Equity
Ekuitas

                                     Rasio Profitabilitas / Profitability Ratio

Rugi Sebelum Pajak terhadap
                                  (126,34)              (81,89)              3,32              Loss Before Tax to Revenue
Pendapatan

Rugi Sebelum Pajak terhadap                                                                              Loss Before Tax to
                                   (3,48)               (15,26)              0,40
Jumlah Aset                                                                                                    Total Assets

Laba Rugi Sebelum Pajak                                                                                 Profit/(Loss) Before
                                  (148,57)              (43,47)              0,84
terhadap Jumlah Ekuitas                                                                                  Tax to Total Equity

Rugi Neto Tahun Berjalan                                                                              Net Loss for the Year
                                  (127,54)              (83,09)              2,12
terhadap Pendapatan                                                                                             to Revenue

Rugi Neto Tahun Berjalan                                                                              Net Loss for the Year
                                   (3,51)               (15,48)              0,26
terhadap Jumlah Aset                                                                                        to Total Assets

Rugi Neto Tahun Berjalan                                                                              Net Loss for the Year
                                  (149,98)              (44,11)              0,54
terhadap Jumlah Ekuitas                                                                                     to Total Equity

EBITDA terhadap Pendapatan         (91,40)              (4,77)               42,89                      EBITDA to Revenue

Rasio Keuangan                                                                                              Financial Ratio

Kas dan Setara Kas terhadap                                                                  Cash and Cash Equivalents to
                                    0,02                 0,05                5,78
Liabilitas Jangka Pendek                                                                            Short-Term Liabilities

Rasio Likuiditas                                                                                            Liquidity Ratio

                                                                                                               (dalam/ in x)

Aset Lancar terhadap Liabilitas                                                                          Current Assets to
                                    0,07                 0,34                6,27
Jangka Pendek                                                                                        Short-Term Liabilities

Rasio Solvabilitas                                                                                          Solvency Ratio

                                                                                                              (dalam/ in x)

Jumlah Liabilitas terhadap
                                   41,75                 1,85                1,09           Total Liabilities to Total Equity
Jumlah Ekuitas

Jumlah Liabilitas terhadap
                                    0,98                 0,65                0,52           Total Liabilities to Total Assets
Jumlah Aset

Jumlah Ekuitas terhadap
                                    0,02                 0,35                0,48               Total Asset to Total Equity
Jumlah Aset

Interest Coverage Ratio            (2,62)                2,47                1,73                  Interest Coverage Ratio

Debt Service Coverage Ratio        (0,36)               (0,27)               0,02             Debt Service Coverage Ratio




14          PT CAKRA BUANA RESOURCES ENERGI Tbk                                      Laporan Tahunan dan Keberlanjutan 2025
Page 17
                    Analisa dan Pembahasan Manajemen                                                                         Tata Kelola Perusahaan                                     Laporan Keberlanjutan
                    Management Discussion and Analysis                                                                       Corporate governance                                       Sustainability Report




Jumlah Aset                                                                                                                 Jumlah Ekuitas
Total Assets                                                                   (dalam Rupiah Penuh)                         Total Equities                                                       (dalam Rupiah Penuh)
                                                                                      (in full Rupiah)                                                                                                  (in full Rupiah)




  2025                      2.005.243.923.381                                                                                2025                                     46.909.504.754




  2024                      333.652.847.172                                                                                  2024                        117.120.494.942




  2023                      350.808.233.968                                                                                  2023                        168.682.894.593




                                                                                                                                                 20
                                                                                                                                                        30


                                                                                                                                                                   50


                                                                                                                                                                             70


                                                                                                                                                                                     90


                                                                                                                                                                                               110


                                                                                                                                                                                                     130
            0
                150
                      300
                            450
                                  600
                                        750
                                              900

                                                    1.050
                                                            1.200

                                                                    1.350
                                                                            1.500
                                                                                    1.650
                                                                                            1.800

                                                                                                    1.950
                                                                                                            2.100

                                                                                                                    2.250




                                                                                                                                       0
                                                                                                                                           10




                                                                                                                                                              40


                                                                                                                                                                       60


                                                                                                                                                                                80


                                                                                                                                                                                         100


                                                                                                                                                                                                 120


                                                                                                                                                                                                          140
                                                                                                                                                                                                             150
                                                                                                                                                                                                                 160
                                                                                                                                                                                                                     170
Jumlah Liabilitas                                                                                                           Pendapatan
Total Liabilities                                                              (dalam Rupiah Penuh)                         Revenue                                                              (dalam Rupiah Penuh)
                                                                                      (in full Rupiah)                                                                                                  (in full Rupiah)




  2025                                   1.958.334.418.627                                                                   2025                  55.163.208.359




  2024                                  216.532.352.230                                                                      2024                  62.173.596.046




  2023                                  184.108.624.398                                                                      2023                  42.728.166.665
                                                                                                                                                                                                 50
                                                                                                                                       0



                                                                                                                                                       10



                                                                                                                                                                 20


                                                                                                                                                                             30




                                                                                                                                                                                                                     70
                                                                                                                                                                                        40




                                                                                                                                                                                                           60
                            450


                                        750


                                                    1.050


                                                                    1.350


                                                                                    1.650


                                                                                                    1.950
            0

                150
                      300


                                  600


                                              900


                                                            1.200


                                                                            1.500


                                                                                            1.800


                                                                                                            2.100
                                                                                                                    2.250




Laba Bruto                                                                                                                  Jumlah Laba (Rugi)
Gross Profit                                                                   (dalam Rupiah Penuh)                         Total Profit (Loss)                                                  (dalam Rupiah Penuh)
                                                                                      (in full Rupiah)                                                                                                  (in full Rupiah)




  2025                                  1.516.444.797                                                                        2025                             (70.211.495.610)




  2024                                          6.053.058.180                                                                2024                             (51.571.135.789)




  2023                15.126.567.245                                                                                         2023                                                              792.457.374
                                                                                                                                                                      (40)

                                                                                                                                                                             (20)

                                                                                                                                                                                    0




                                                                                                                                                                                                                50

                                                                                                                                                                                                                     60
            0
                1
                  2
                        3
                             4
                                   5
                                         6
                                              7
                                                    8
                                                            9
                                                                10
                                                                        11
                                                                               12
                                                                                      13
                                                                                              14
                                                                                                     15
                                                                                                            16
                                                                                                                    17




                                                                                                                                       (120)

                                                                                                                                               (100)

                                                                                                                                                       (80)

                                                                                                                                                               (60)




                                                                                                                                                                                        10

                                                                                                                                                                                               20

                                                                                                                                                                                                     30

                                                                                                                                                                                                           40




Annual and Sustainability Report 2025                                                                                            PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                                                                                15
Page 18
          Ikhtisar Perseroan               Laporan Manajemen                     Profil Perusahaan
          Company Summary                  Management Report                     Company Profile




Kinerja Operasional                                                   Operational Performance

                                                                                     (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                              2025                                                               2024

      Uraian                               Pengelolaan                                                    Pengelolaan
                       Sewa Menurut                                             Sewa Menurut
    Description                               Kapal             Jumlah                                       Kapal                          Jumlah
                           Waktu                                                    Waktu
                                               Ship              Total                                        Ship                           Total
                        Rent By Time                                             Rent By Time
                                           Management                                                     Management

Aset Segmen
                       2.005.243.923.381                 - 2.005.243.923.381    298.883.596.583             34.769.250.589             333.652.847.172
Segment Assets

Liabilitas Segmen
                       1.958.334.418.627                 - 1.958.334.418.627    205.335.928.960             11.196.423.270             216.532.352.230
Segment Liabilities

Pendapatan
                         53.296.574.216     1.866.634.143     55.163.208.359     54.044.535.226               8.129.060.820              62.173.596.046
Revenue

Beban Pokok
Pendapatan              (51.831.443.469)   (1.815.320.093)   (53.646.763.562)   (48.782.901.078)           (7.337.636.787)             (56.120.537.866)
Cost of Revenue

Laba Bruto
                          1.465.130.747        51.314.050      1.516.444.797      5.261.634.148                 791.424.032                6.053.058.180
Gross Profit

Beban Umum dan
Administrasi/General
                        (31.790.879.159)                 -   (31.790.879.159)   (32.576.623.273)                                 -     (32.576.623.273)
and Administrative
Expenses

Penghasilan Beban
Lain-Lain – Neto
                        (20.143.445.664)                 -   (20.143.445.664)    (9.726.188.741)                                 -       (9.726.188.741)
Other Income
(Expenses) – Net

Rugi Usaha
                        (50.469.194.075)       51.314.050    (50.417.880.025)   (37.041.177.867)                791.424.032            (36.249.753.834)
Operating Loss

Biaya Keuangan
                        (19.275.106.074)                 -   (19.275.106.074)   (14.665.557.902)                                 -     (14.665.557.902)
Financial Cost

Rugi Usaha Sebelum
Pajak per Segmen /
                        (69.744.300.150)       51.314.050    (69.692.986.100)   (51.706.735.769)                791.424.032            (50.915.311.736)
Segment Operating
Loss Before Tax




16             PT CAKRA BUANA RESOURCES ENERGI Tbk                                                    Laporan Tahunan dan Keberlanjutan 2025
Page 19
                      Analisa dan Pembahasan Manajemen                                     Tata Kelola Perusahaan                        Laporan Keberlanjutan
                      Management Discussion and Analysis                                   Corporate governance                          Sustainability Report




Kinerja Keberlanjutan Sosial [POJK51-B.3]                                               Social              Sustainability                  Performance
                                                                                        [POJK51-B.3]




                            Uraian                                        Satuan
                                                                                                   2025                        2024                2023
                          Description                                      Unit

                                                                     Pengelolaan Karyawan
                                                                     Employee Management

 Jumlah Tenaga Kerja                                                       Orang
                                                                                                     38                          13                 10
 Total Employee                                                            People

 Kecelakaan Kerja1)                                                   Kejadian Fatal                Nihil                       Nihil              Nihil
 Work Accident                                                          Fatalities                   Nil                         Nil                Nil

                                                                  Pengembangan Masyarakat
                                                                   Community Development

 Kegiatan Pengembangan Masyarakat                                      Program CSR
                                                                                                      1                          2                   2
 Community Development Activities                                      CSR Program
1) Kejadian yang menyebabkan kematian dan kembali bekerja berbatas / Events that cause death and return to work are limited.




Keberlanjutan                      Kinerja               Lingkungan                     Environmental Performance
[POJK51-B.2]
                                                                                        Sustainability [POJK51-B.2]

                            Uraian                                        Satuan
                                                                                                   2025                        2024                2023
                          Description                                      Unit

                                                                         Penggunaan Energi
                                                                            Energy Use

 Listrik
                                                                             kWh                  30.355                       34.639             34.706
 Electricity

 Bahan Bakar Minyak (BBM)
                                                                            Liter                 910.000                      990.000            661.000
 Fuel Oil (BBM)

                                                                           Penggunaan Air
                                                                            Water Usage

                                                                                             Belum melakukan           Belum melakukan       Belum melakukan
 Air PDAM                                                                                       perhitungan.              perhitungan.          perhitungan.
                                                                             m3
 PDAM Water                                                                                  Haven’t done the          Haven't done the      Haven't done the
                                                                                              calculations yet.         calculations yet.     calculations yet.

                                                                        Pengelolaan Limbah
                                                                        Waste Management

 Limbah Padat
                                                                             Ton
 Solid Waste
                                                                                             Belum melakukan           Belum melakukan       Belum melakukan
 Limbah Cair                                                                                    perhitungan.              perhitungan.          perhitungan.
                                                                             m3
 Liquid Waste                                                                                Haven’t done the          Haven't done the      Haven't done the
                                                                                              calculations yet.         calculations yet.     calculations yet.
 Limbah Berbahaya dan Beracun
                                                                             Ton
 Hazardous and Toxic Waste (B3)




Annual and Sustainability Report 2025                                                          PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 20
                                       Ikhtisar Perseroan                   Laporan Manajemen                                                           Profil Perusahaan
                                       Company Summary                      Management Report                                                           Company Profile




                             Ikhtisar Saham                                                                            Share Highlights
                             Saham Perseroan resmi tercatat di Bursa Efek Indonesia                                    The Company’s shares have been officially listed on
                             sejak 9 Januari 2023 dengan kode saham CBRE. Informasi                                    the Indonesia Stock Exchange since 9 January 2023
                             terkait ikhtisar saham Perseroan dalam 2 tahun terakhir                                   under the ticker symbol CBRE. Information regarding an
                             diungkapkan pada tabel berikut.                                                           overview of the Company’s shares over the past 2 years
                                                                                                                       is presented in the following table.



                                                               Harga Saham                                                                                        Jumlah Saham
                                                                                                                                                                                            Kapitalisasi Pasar
                                                                Stock Price            Volume Perdagangan                                                             Beredar
                                                                                                                                                                                             (Miliar Rupiah)
                                   Periode                                                   (Lembar)                                                                (Lembar)
                                                                                                                                                                                              Capitalization
                                   Periode         Tertinggi        Terendah Penutupan    Volume Trading                                                         Number of shares
                                                                                                                                                                                                  Market
                                                    Highest          Lowest    Closing        (Sheet)                                                               Circulating
                                                                                                                                                                                             (Billion Rupiah)
                                                     (Rp)             (Rp)      (Rp)                                                                                  (Sheet)

                                                                                                           2025

                                  Kuartal I
                                                      36              18               26                                                       153.474                 4 .538.067.441                           118
                                  Quarter I

                                  Kuartal II
                                                     103              22               62                                                       491.742                 4 .538.067.441                           281
                                  Quarter II

                                  Kuartal III
                                                     680              62               670                                                    3.449.700                 4 .538.067.441                        3.041
                                  Quarter III

                                  Kuartal IV
                                                    2.000             735              980                                                    6.586.899                 4 .538.067.441                        4.447
                                  Quarter IV

                                                                                                           2024

                                  Kuartal I
                                                      50              34               34                                                          2.998                4.538.039.093                            154
                                  Quarter I

                                  Kuartal II
                                                      39              13               19                                                         91.568                4.538.049.492                             86
                                  Quarter II

                                  Kuartal III
                                                      28              18               20                                                         65.875                4.538.055.733                             91
                                  Quarter III

                                  Kuartal IV
                                                      22              18               19                                                         76.421                4.538.065.482                             86
                                  Quarter IV



                             60                                                                                                          2.400
                             55                                                                                                           2.200
                                         50                                                                                                                                                                       2.000
                             50                                                                                                          2.000
                             45                                                                                                               1.800
(dalam Rupiah / in Rupiah)




                                                                                                                 (dalam Rupiah / in Rupiah)




                                                               39
                             40                                                                                                               1.600
                                        34
                             35                                                       28                                                      1.400
                             30                                                                             22                                1.200
                             25                                                                                                               1.000
                                                                                 18                        18
                                                               13                                                                                                                             680                      735
                             20                                                                                                                800
                             15                                                                                                                600
                             10                                                                                                                400
                                                                                                                                                                              103
                             5                                                                                                                 200
                                                                                                                                                      36                                                 62
                             0                                                                                                                    0        18                       22


                                      Triwulan I     Triwulan II       Triwulan III          Triwulan IV                                                   Triwulan I      Triwulan II    Triwulan III        Triwulan IV
                                      Quarter I      Quarter II        Quarter III           Quarter IV                                                    Quarter I       Quarter II     Quarter III         Quarter IV


                                                               2024                                                                                                                  2025
                                                                                      Harga Terendah                                          Harga Tertinggi
                                                                                      LowestPrice                                             Highest Price




                              18             PT CAKRA BUANA RESOURCES ENERGI Tbk                                                                                          Laporan Tahunan dan Keberlanjutan 2025
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                  Analisa dan Pembahasan Manajemen             Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis           Corporate governance             Sustainability Report




Aksi Korporasi dan                           Aktivitas       Corporate Actions                   and        Stock
Perdagangan Saham                                            Trading Information

Aksi Korporasi                                               Corporate Action
Perseroan telah memperoleh persetujuan Pemegang              The Company obtained shareholder approval at the
Saham dalam Rapat Umum Pemegang Saham (RUPS)                 Extraordinary General Meeting of Shareholders (GMS)
Luar Biasa yang diselenggarakan pada tanggal 18              held on Desember 18, 2025, for the issuance of new
Desember 2025 berupa penerbitan saham baru melalui           shares through a pre-emptive rights mechanism (rights
mekanisme Memberikan Hak Memesan Efek Terlebih               issue), with a maximum of 48 billion shares at a par
Dahulu (MHMETD) dengan jumlah maksimal sebanyak 48           value of Rp 25 per share. Through this corporate action,
miliar saham dan nilai nominal Rp25 per saham. Melalui       the Company targets proceeds of up to IDR 1.2 trillion,
aksi korporasi ini, Perseroan menargetkan perolehan          which will be used to strengthen the capital structure
dana hingga Rp1,2 triliun, yang akan digunakan untuk         and support the Company’s strategic needs.
memperkuat struktur permodalan serta mendukung
kebutuhan strategis Perseroan.


Dana hasil rights issue direncanakan untuk melunasi          The proceeds from the rights issue are planned to be
sebagian kewajiban kepada pihak ketiga, memperkuat           used to partially settle obligations to third parties,
modal kerja guna mendukung kegiatan operasional,             strengthen working capital to support operational
serta membiayai ekspansi armada melalui belanja              activities, and finance fleet expansion through capital
modal. Salah satu rencana belanja modal tersebut             expenditures. One of the planned capital expenditure
mencakup pembelian satu unit Pipe-Laying and Lifting         initiatives includes the acquisition of one Pipe-Laying
Vessel dengan nilai sekitar USD100 juta (setara ± Rp1,63     and Lifting Vessel with a value of approximately USD 100
triliun) yang telah disepakati pada Agustus 2025, sebagai    million (equivalent to approximately Rp1.63 trillion),
bagian dari strategi diversifikasi dan pengembangan          which was agreed upon in August 2025, as part of the
usaha Perseroan.                                             Company’s business diversification and development
                                                             strategy.


Selain itu, tidak terdapat aksi korporasi lainnya, seperti   Furthermore, there were no other corporate actions
pemecahan atau penggabungan saham, pembagian                 undertaken, such as share splits or consolidations, the
dividen saham atau saham bonus, perubahan nilai              distribution of share dividends or bonus shares, changes
nominal saham, penerbitan saham baru, maupun                 in the par value of shares, the issuance of additional
penerbitan efek bersifat konversi.                           shares, or the issuance of convertible securities.


Aksi Perdagangan Saham                                       Stock Trading Information
Sepanjang tahun 2025, aktivitas perdagangan saham            Throughout 2025, the trading activity of the
Perseroan ditandai oleh pergerakan harga yang signifikan     Company’s shares was characterized by significant price
dan volatilitas yang tinggi, seiring meningkatnya            movements and high volatility, in line with increasing
perhatian investor terhadap perkembangan Perseroan.          investor attention to the Company’s developments.
Saham Perseroan mencatatkan kenaikan harga yang              The Company’s shares recorded a substantial year-
substansial secara year-to-date hingga September 2025,       to-date price increase up to September 2025, with an
dengan apresiasi mencapai lebih dari 3.000%, serta           appreciation of more than 3,000%, and briefly reached a
sempat menyentuh level tertinggi di kisaran Rp2.000          peak level of around Rp2,000 per share in October 2025.
per saham pada Oktober 2025. Peningkatan harga               This price increase was also accompanied by a surge in
tersebut juga diikuti oleh lonjakan volume transaksi,        trading volume, with the average daily trading volume
dengan rata-rata volume perdagangan harian mencapai          reaching approximately 12.96 million shares and daily
sekitar 12,96 juta saham dan nilai transaksi harian yang     transaction value peaking at over Rp1 trillion.
pada puncaknya menembus Rp1 triliun.




Annual and Sustainability Report 2025                             PT CAKRA BUANA RESOURCES ENERGI Tbk
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        Ikhtisar Perseroan           Laporan Manajemen              Profil Perusahaan
        Company Summary              Management Report              Company Profile




Dinamika perdagangan saham Perseroan dipengaruhi           The dynamics of the Company’s share trading were
oleh beberapa faktor, antara lain meningkatnya spekulasi   influenced by several factors, including heightened
dan sentimen pasar, perubahan kepemilikan saham            speculation and market sentiment, changes in share
oleh investor strategis, serta rencana aksi korporasi      ownership by strategic investors, as well as the planned
berupa rights issue yang dipersepsikan pasar sebagai       corporate action in the form of a rights issue, which
langkah strategis untuk mendukung pengadaan aset           was perceived by the market as a strategic step to
dan pengembangan usaha Perseroan. Seiring dengan           support asset procurement and business expansion.
volatilitas tersebut, Bursa Efek Indonesia melakukan       In response to the heightened volatility, the Indonesia
beberapa kali penghentian sementara perdagangan            Stock Exchange imposed several temporary trading
(suspensi) sepanjang tahun 2025, termasuk pada Juni,       suspensions throughout 2025, including in June,
Agustus, dan September 2025, sebagai bagian dari           August, and September 2025, as part of a cooling-
mekanisme cooling down guna menjaga keteraturan            down mechanism to maintain orderly trading and
dan perlindungan investor di pasar modal. Pada 23          investor protection in the capital market. Trading of the
September 2025, perdagangan saham Perseroan telah          Company’s shares was resumed on 23 September 2025.
dibuka kembali.


Menanggapi kondisi tersebut, Perseroan menghormati         In response to these conditions, the Company fully
dan mendukung sepenuhnya kebijakan serta langkah           respects and supports the policies and supervisory
pengawasan yang dilakukan oleh otoritas pasar modal.       measures implemented by the capital market authorities.
Perseroan menegaskan bahwa seluruh informasi               The Company affirms that all material information
material telah disampaikan secara terbuka, transparan,     has been disclosed in an open, transparent, and timely
dan sesuai dengan ketentuan peraturan perundang-           manner in compliance with the applicable laws and
undangan yang berlaku. Perseroan juga senantiasa           regulations. The Company also remains committed
berkomitmen untuk menjaga tata kelola perusahaan           to upholding good corporate governance practices,
yang baik, meningkatkan kualitas keterbukaan informasi,    enhancing the quality of information disclosure, and
serta mendorong terciptanya perdagangan saham yang         fostering fair, orderly, and efficient share trading.
wajar, teratur, dan efisien.


Informasi Mengenai Obligasi, Sukuk, dan                    Information on Bonds,                     Sukuk         or
Obligasi Konversi                                          Convertible Bonds
Sepanjang tahun 2025, Perseroan tidak menerbitkan          Throughout 2025, the Company did not issue any bonds,
obligasi, sukuk, maupun obligasi konversi.                 sukuk, or convertible bonds.




 20        PT CAKRA BUANA RESOURCES ENERGI Tbk                                   Laporan Tahunan dan Keberlanjutan 2025
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                  Analisa dan Pembahasan Manajemen       Tata Kelola Perusahaan            Laporan Keberlanjutan
                  Management Discussion and Analysis     Corporate governance              Sustainability Report




Peristiwa Penting
Event Highlight

  01 | 14 Oktober/October 2025                           04 | 05 November 2025
Best Trust Pte Ltd mengurangi kepemilikan              Perseroan telah memperoleh kontrak kerjasama
saham di Perseroan dengan melakukan penjualan          jangka panjang atas kegiatan sewa kapal HAI
sebesar 252.951.687 lembar saham kepada                LONG 106 dengan sistem (time charter) dengan
Andry Hakim. Transaksi saham ini, menjadikan           PT Gunanusa Utama Fabricators/The Company
Andry Hakim memiliki 5% dari total modal               has obtained a long-term cooperation contract for
ditempatkan Perseroan/Best Trust Pte Ltd               the chartering of the HAI LONG 106 vessel with
reduced its shareholding in the Company by             a time charter system with PT Gunanusa Utama
selling 252,951,687 shares to Andry Hakim. This        Fabricators.
share transaction gives Andry Hakim 5% of the
Company's total issued capital.
                                                        05 | 19 Desember/December 2025


  02 | 23 Oktober/October 2025
Perseroan melakukan penambahan kegiatan usaha

                                                                                  POTO
dengan KBLI 50141 (Angkutan Laut Dalam Negeri
Untuk Barang Umum) & KBLI 5229 (Aktivitas
Penunjang Perairan Lainnya)/ The Company
has added business activities with KBLI 50141
(Domestic Sea Transportation for General Goods)
& KBLI 5229 (Other Water Support Activities)

                                                       Peristiwa penting yang terjadi pada tahun buku berjalan
                                                       adalah telah resminya Kapal Hai Long 106 berbendera
                                                       Indonesia dan menjadi kepemilikan atas nama Perseroan
   03 | 23 Oktober/October 2025                        sejak tanggal 19 Desember 2025, sebagaimana
                                                       dibuktikan dengan diterbitkannya Grosse Akta Kapal. Hal
Perseroan menerbitkan surat sanggup bayar              ini menandai telah terpenuhinya ketentuan administratif
atau Promissory Note (PN) kepada pihak ketiga          dan hukum pelayaran nasional terkait kepemilikan serta
                                                       pendaftaran kapal tersebut./A significant event that
yang memberikan pinjaman sehubungan dengan
                                                       occurred during the current fiscal year was the official
akuisisi kapal HAI LONG 106./ The Company issued       registration of the Indonesian-flagged Hai Long 106
a promissory note (PN) to a third party providing a    vessel under the Company's ownership on December 19,
loan in connection with the acquisition of the HAI     2025, as evidenced by the issuance of the Ship's Grosse
LONG 106 vessel.                                       Akta Kapal (Volume 106). This signifies the fulfillment of
                                                       national administrative and shipping legal requirements
                                                       regarding the ownership and registration of the vessel.




Annual and Sustainability Report 2025                       PT CAKRA BUANA RESOURCES ENERGI Tbk
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        Ikhtisar Perseroan          Laporan Manajemen              Profil Perusahaan
        Company Summary             Management Report              Company Profile




Penghargaan dan Sertifikasi
Award and Certification
Pada tahun 2025 Perseroan tidak mendapatkan              In 2025, the Company did not receive any awards or
penghargaan atau sertifikasi dari pihak manapun.         certification from any party.




Keanggotaan Asosiasi [POJK51-C.5]
Association Membership [POJK51-C.5]




                                                        Persatuan Pengusaha
                                                        Pelayaran Niaga
                                                        Nasional Indonesia
                                                        (Indonesian National
                                                        Shipowners’ Association-INSA)

                                                        Status                         Skala
                                                        Status                         Scale
                                                        Anggota                        Nasional
                                                        Member                         National




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                  Analisa dan Pembahasan Manajemen        Tata Kelola Perusahaan                  Laporan Keberlanjutan
                  Management Discussion and Analysis      Corporate governance                    Sustainability Report




                                                       Asosiasi Emiten
                                                       Indonesia (AEI)
                                                       (Indonesian Public Listed
                                                       Companies Association)

                                                       Status                      Skala
                                                       Status    :                 Scale      :
                                                       Anggota                     Nasional
                                                       Member                      National




                                                       Persatuan Pengusaha
                                                       Pelayaran Niaga
                                                       Nasional Indonesia
                                                       (Indonesian National
                                                       Shipowners’ Association-INSA)

                                                       Status                      Skala
                                                       Status                      Scale
                                                       Anggota                     Nasional
                                                       Member                      National




Annual and Sustainability Report 2025                        PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                  23
Page 26
     Laporan
     Manajemen
     Management
     Report




24   PT CAKRA BUANA RESOURCES ENERGI Tbk   Laporan Tahunan dan Keberlanjutan 2025
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Annual and Sustainability Report 2025   PT CAKRA BUANA RESOURCES ENERGI Tbk
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      Ikhtisar Perseroan        Laporan Manajemen   Profil Perusahaan
      Company Summary           Management Report   Company Profile




Laporan Dewan
Komisaris
Board of Commissioners
Report



Pemegang Saham dan Pemangku Kepentingan
yang Terhormat,
Dear Shareholders and Stakeholders,

Dewan Komisaris bersyukur kepada Tuhan yang Maha Esa atas kinerja
Perseroan yang tetap terjaga dengan baik sepanjang tahun 2025. Dewan
Komisaris mengapresiasi kepemimpinan serta langkah strategis Direksi
dalam menjaga kinerja operasional dan keuangan Perseroan agar tetap solid
dan berkelanjutan. Apresiasi ini disampaikan sejalan dengan pelaksanaan
fungsi pengawasan dan pemberian arahan strategis guna mendukung
pertumbuhan Perseroan ke depan. Selama periode 2025, Dewan Komisaris
telah menjalankan fungsi pengawasan terhadap Direksi dengan uraian sebagai
berikut.

The Board of Commissioners expresses its gratitude to Almighty God for the
Company’s performance, which remained well maintained throughout 2025. The
Board of Commissioners extends its appreciation for the leadership and strategic
initiatives of the Board of Directors in safeguarding the Company’s operational
and financial performance to ensure continued solidity and sustainability. This
appreciation is conveyed in line with the Board of Commissioners’ supervisory role
and the provision of strategic guidance to support the Company’s future growth.




26       PT CAKRA BUANA RESOURCES ENERGI Tbk                     Laporan Tahunan dan Keberlanjutan 2025
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                          Analisa dan Pembahasan Manajemen     Tata Kelola Perusahaan       Laporan Keberlanjutan
                          Management Discussion and Analysis   Corporate governance         Sustainability Report




Suganto Gunawan
Komisaris Utama
President Commissioner




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        Ikhtisar Perseroan             Laporan Manajemen               Profil Perusahaan
        Company Summary                Management Report               Company Profile




Makro Ekonomi                                                Macro Economi
Sepanjang tahun 2025, perekonomian global                    Throughout 2025, the global economy faced geopolitical
dihadapkan pada ketidakpastian geopolitik, fluktuasi         uncertainties, commodity price fluctuations, and tighter
harga komoditas, serta pengetatan kebijakan moneter di       monetary policies in several advanced economies.
sejumlah negara maju. Meskipun demikian, permintaan          Nevertheless, demand for strategic commodities such
terhadap komoditas strategis seperti batubara, nikel, dan    as coal, nickel, and iron ore remained relatively stable,
iron ore tetap relatif terjaga, didorong oleh kebutuhan      driven by energy needs, infrastructure development, and
energi, pembangunan infrastruktur, dan transisi energi       the global energy transition. This condition allowed the
global. Kondisi ini menyebabkan sektor pelayaran             bulk cargo shipping sector to retain growth opportunities,
angkutan kargo curah tetap memiliki peluang, meskipun        despite volatility in freight rates, operational costs, and
di tengah volatilitas tarif angkut, biaya operasional, dan   fleet availability.
ketersediaan armada.


Di tingkat nasional, perekonomian Indonesia                  At the national level, Indonesia’s economy demonstrated
menunjukkan stabilitas yang relatif terjaga, namun           relatively stable performance, albeit accompanied by
disertai dengan penyesuaian kebijakan di sektor strategis.   policy adjustments in strategic sectors. Restrictions on
Pembatasan distribusi dan pengapalan komoditas               the distribution and shipment of coal and nickel at the
batubara dan nikel pada skala nasional berdampak             national level affected cargo availability in the market.
pada terbatasnya ketersediaan kargo di pasar. Kondisi        This situation impacted logistics and shipping activities,
tersebut memengaruhi aktivitas logistik dan pelayaran,       particularly in the bulk cargo segment, and posed
khususnya angkutan kargo curah, serta menimbulkan            challenges for shipping companies in maintaining fleet
tantangan bagi perusahaan pelayaran dalam menjaga            utilization levels and operational continuity.
tingkat utilisasi armada dan kesinambungan operasional.


Tantangan yang Dihadapi                                      Challenges Faced
Dalam periode pelaporan, Dewan Komisaris mencermati          During the reporting period, the Board of Commissioners
adanya pembatasan distribusi komoditas strategis,            observed restrictions on the distribution of strategic
khususnya batubara dan nikel, pada skala nasional.           commodities, particularly coal and nickel, at the national
Kondisi ini berdampak pada terbatasnya ketersediaan          level. This condition led to limited cargo availability in
kargo di pasar dan berimplikasi langsung terhadap            the market and had a direct impact on the bulk cargo
industri pelayaran angkutan kargo curah, termasuk            shipping industry, including reduced fleet utilization
penurunan tingkat utilisasi armada serta meningkatnya        and increased operational challenges in maintaining
tantangan operasional dalam menjaga kesinambungan            business continuity.
kegiatan usaha.


Dengan mempertimbangkan kondisi ekonomi makro                Taking into account global and national macroeconomic
global dan nasional sepanjang tahun 2025, Dewan              conditions throughout 2025, the Board of Commissioners
Komisaris memandang bahwa tantangan tersebut                 views these challenges as temporary. Through
bersifat sementara. Melalui penerapan strategi yang          the implementation of well-measured strategies,
terukur, kehati-hatian dan fleksibilitas operasional,        prudent and flexible operational practices, as well
serta penguatan tata kelola perusahaan dan diversifikasi     as strengthened corporate governance and business
kegiatan usaha, termasuk pengembangan jasa                   diversification including the development of offshore
penunjang kegiatan offshore pada tahun 2026, Perseroan       supporting services in 2026 the Company is expected
diharapkan mampu menjaga keberlangsungan usaha               to maintain business sustainability and drive long-term
dan mendorong pertumbuhan yang berkelanjutan di              growth amid industry dynamics.
tengah dinamika industri.




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                  Analisa dan Pembahasan Manajemen           Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis         Corporate governance             Sustainability Report




Penilaian Dewan Komisaris atas Kinerja                     Board of Commissioners' Assessment of
Direksi                                                    Directors' Performance
Dewan Komisaris menilai bahwa sepanjang tahun              The Board of Commissioners is of the view that
2025, Direksi menunjukkan kepemimpinan yang solid          throughout 2025, the Board of Directors demonstrated
dalam mengelola operasional dan strategi bisnis            solid leadership in managing the Company’s operations
Perseroan di tengah dinamika dan ketidakpastian            and business strategy amid global economic dynamics
ekonomi global. Evaluasi kinerja Direksi dilakukan         and uncertainty. The performance of the Board of
secara berkala dan komprehensif melalui berbagai           Directors was evaluated on a regular and comprehensive
indikator, termasuk kehadiran dan efektivitas rapat,       basis through various indicators, including meeting
pencapaian target kinerja, serta pelaksanaan tugas         attendance and effectiveness, the achievement of
dan tanggung jawab sesuai ketentuan yang berlaku.          performance targets, and the execution of duties
Berdasarkan hasil evaluasi tersebut, Dewan Komisaris       and responsibilities in accordance with applicable
mengapresiasi kinerja Direksi dalam menangkap              regulations. Based on the results of this evaluation, the
peluang usaha, mengambil keputusan strategis, serta        Board of Commissioners extends its appreciation for
menjaga stabilitas dan kesinambungan Perseroan.            the performance of the Board of Directors in capturing
Dewan Komisaris menilai bahwa strategi, rencana kerja,     business opportunities, making strategic decisions, and
dan proyeksi usaha yang disusun Direksi telah realistis,   maintaining the Company’s stability and continuity.
selaras dengan kondisi ekonomi makro, dinamika pasar,      The Board of Commissioners further assesses that the
serta kapasitas Perseroan.                                 strategies, work plans, and business projections prepared
                                                           by the Board of Directors are realistic and aligned with
                                                           macroeconomic conditions, market dynamics, and the
                                                           Company’s overall capacity.


Pandangan atas Prospek Usaha                               Views on Business Prospects
Dewan Komisaris menilai bahwa strategi, rencana kerja,     The Board of Commissioners assesses that the
target, serta proyeksi prospek usaha yang disusun          strategies, work plans, targets, and business outlook
oleh Direksi telah berada dalam kategori baik dan          projections formulated by the Board of Directors are
sangat sesuai dengan kondisi serta tantangan industri      well-developed and highly aligned with the Company’s
yang dihadapi Perseroan. Strategi tersebut telah           prevailing conditions and industry challenges. These
mempertimbangkan dinamika ekonomi makro, kondisi           strategies have taken into account macroeconomic
pasar pelayaran, serta keterbatasan dan peluang yang       dynamics, shipping market conditions, as well as existing
ada, termasuk langkah-langkah efisiensi operasional        constraints and opportunities, including operational
dan diversifikasi kegiatan usaha. Dewan Komisaris          efficiency measures and business diversification
memandang bahwa arah kebijakan yang dirumuskan             initiatives. The Board of Commissioners views that the
Direksi mencerminkan kehati-hatian, adaptabilitas, dan     policy direction established by the Board of Directors
fokus pada keberlanjutan usaha, sehingga diharapkan        reflects prudence, adaptability, and a strong focus
mampu mendukung pencapaian kinerja Perseroan               on business sustainability, thereby supporting the
secara berkelanjutan di masa mendatang.                    achievement of the Company’s sustainable performance
                                                           in the future.




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         Ikhtisar Perseroan               Laporan Manajemen                   Profil Perusahaan
         Company Summary                  Management Report                   Company Profile




Pandangan terhadap Penerapan Tata                                 Perspective on Corporate Governance
Kelola Perusahaan                                                 Implementation
Dewan Komisaris menilai bahwa pelaksanaan tata kelola             The Board of Commissioners assesses that the
perusahaan di PT Cakra Buana Resources Energi Tbk                 implementation of corporate governance at PT
sepanjang tahun berjalan telah berada dalam kategori              Cakra Buana Resources Energi Tbk throughout the
baik. Prinsip-prinsip tata kelola perusahaan yang                 year has been in the good category. The principles
meliputi transparansi, akuntabilitas, responsibilitas,            of good corporate governance namely transparency,
independensi, dan kewajaran telah diterapkan secara               accountability, responsibility, independence, and
konsisten dalam kegiatan operasional dan pengambilan              fairness have been consistently applied in operational
keputusan. Meskipun demikian, Dewan Komisaris                     activities and decision-making processes. Nevertheless,
memandang masih terdapat ruang untuk peningkatan                  the Board of Commissioners recognizes that there
secara berkelanjutan, khususnya dalam penguatan                   remains room for continuous improvement, particularly
sistem pengendalian internal, manajemen risiko, serta             in strengthening the internal control system, risk
peningkatan efektivitas pengawasan, guna mendukung                management, and the effectiveness of oversight, in
pertumbuhan usaha dan keberlanjutan Perseroan di                  order to support the Company’s business growth and
masa mendatang.                                                   long-term sustainability.


Perubahan Komposisi Dewan Komisaris                               Changes in the Composition of the Board
                                                                  of Commissioners
Melalui Rapat Umum Pemegang Saham (RUPS) Tahunan                  Through the Annual General Meeting of Shareholders
yang diselenggarakan pada 26 Juni 2025, Perseroan                 (GMS) held on 26 June 2025, the Company approved the
telah mengesahkan pengunduran diri Bapak George                   resignations of Mr. George Samuel as Commissioner and
Samuel sebagai Komisaris dan Bapak Rivolinggo                     Mr. Rivolinggo Pamudji as Independent Commissioner.
Pamudji sebagai Komisaris Independen. Dengan                      Accordingly, the composition of the Company’s Board of
demikian, susunan Dewan Komisaris Perseroan hingga                Commissioners as of 31 December 2025 was as follows:
31 Desember 2025 adalah sebagai berikut.
•    Komisaris Utama           : Suganto Gunawan                  •    President Commissioner         : Suganto Gunawan
•    Komisaris		               : Suwito                           •    Commissioner		                 : Suwito
•    Komisaris independen : H.R. Agung Laksono                    •    Independent Commissioner: H.R. Agung Laksono




                     Komisaris :                           Komisaris Utama :                   Komisaris independen :
                    Commissioner                         President Commissioner              Independent Commissioner
                      SUWITO                            SUGANTO GUNAWAN                      H.R. AGUNG LAKSONO




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                  Analisa dan Pembahasan Manajemen                Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis              Corporate governance             Sustainability Report




Penutup                                                         Closing
Dewan Komisaris menyampaikan apresiasi kepada                   The Board of Commissioners extends its appreciation to
jajaran Direksi atas komitmen, dedikasi, dan upaya yang         the Board of Directors for their commitment, dedication,
telah dilakukan dalam mengelola Perseroan di tengah             and efforts in managing the Company amid the dynamics
dinamika dan tantangan industri sepanjang tahun                 and challenges of the industry throughout the year. The
berjalan. Ucapan terima kasih juga kami sampaikan               Board also expresses its gratitude to the shareholders
kepada para pemegang saham atas kepercayaan dan                 for their continued trust and support for PT Cakra Buana
dukungan yang berkelanjutan kepada PT Cakra Buana               Resources Energi Tbk. The Board of Commissioners
Resources Energi Tbk. Dewan Komisaris meyakini bahwa            believes that, with strong synergy between the Board
dengan sinergi yang kuat antara Dewan Komisaris,                of Commissioners, the Board of Directors, and all
Direksi, dan seluruh pemangku kepentingan, serta                stakeholders, as well as the consistent implementation
penerapan tata kelola perusahaan yang baik, Perseroan           of good corporate governance, the Company will be able
akan mampu menjaga keberlangsungan usaha dan                    to sustain its business continuity and create long-term
menciptakan nilai jangka panjang yang berkelanjutan.            sustainable value.


                                               Atas Nama Dewan Komisaris,




                                                       Suganto Gunawan
                                                     Komisaris Utama
                                                 President Commissioners




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       Ikhtisar Perseroan          Laporan Manajemen             Profil Perusahaan
       Company Summary             Management Report             Company Profile




Laporan Direksi
Report of The Board of
Directors


Pemegang Saham dan Pemangku Kepentingan yang Terhormat,
Dear Shareholders and Stakeholders,

Direksi menilai bahwa tahun 2025 merupakan periode yang penuh penyesuaian
bagi industri pelayaran, seiring dengan dinamika ekonomi global dan nasional yang
memengaruhi pergerakan komoditas dan aktivitas logistik laut. Perseroan yang
menjalankan usaha pelayaran kargo curah dengan armada tugboat, tongkang, dan
kapal Supramax dihadapkan pada kondisi pasar yang menuntut efisiensi, ketepatan
strategi, serta pengelolaan armada yang adaptif.
Ke depan, Direksi memandang tahun 2026 sebagai fase penguatan dan ekspansi
usaha melalui pengembangan jasa penunjang kegiatan offshore, yang didukung
dengan penambahan satu unit pipe laying and lifting vessel. Langkah ini diharapkan
dapat membuka peluang usaha baru, meningkatkan stabilitas pendapatan, serta
memperkuat posisi Perseroan dalam menghadapi perubahan siklus industri dan
kondisi ekonomi makro yang dinamis.


The Board of Directors considers 2025 to have been a period of adjustment for the shipping
industry, amid global and domestic economic dynamics that affected commodity movements and
maritime logistics activities. The Company, which operates in the bulk cargo shipping business
with a fleet of tugboats, barges, and Supramax vessels, faced market conditions that demanded
efficiency, strategic precision, and adaptive fleet management.
Looking ahead, the Board of Directors views 2026 as a phase of strengthening and business
expansion through the development of offshore support services, supported by the addition of
one pipe laying and lifting vessel. This initiative is expected to create new business opportunities,
enhance revenue stability, and strengthen the Company’s position in navigating industry cycles
and dynamic macroeconomic conditions.




32        PT CAKRA BUANA RESOURCES ENERGI Tbk                                 Laporan Tahunan dan Keberlanjutan 2025
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                           Analisa dan Pembahasan Manajemen     Tata Kelola Perusahaan       Laporan Keberlanjutan
                           Management Discussion and Analysis   Corporate governance         Sustainability Report




Suminto Husin Giman
Direktur Utama
President Director




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       Ikhtisar Perseroan          Laporan Manajemen            Profil Perusahaan
       Company Summary             Management Report            Company Profile




Tantangan yang dihadapi di tahun 2025                  Challenges Faced in 2025
Direksi memandang bahwa salah satu tantangan           The Board of Directors views that one of the
utama yang dihadapi industri pelayaran sepanjang       main challenges faced by the shipping industry
tahun 2025 berasal dari penyesuaian kebijakan          throughout 2025 stemmed from adjustments in
pemerintah di sektor komoditas strategis,              government policies in the strategic commodities
khususnya batubara dan nikel. Pembatasan yang          sector, particularly coal and nickel. The restrictions
terjadi pada dasarnya tidak berada pada aspek          were not primarily related to distribution, but rather
distribusi, melainkan pada sisi hulu dan tata niaga,   to upstream activities and trading governance,
termasuk pengaturan produksi dan perizinan, yang       including production controls and licensing
berdampak tidak langsung terhadap ketersediaan         arrangements, which indirectly affected cargo
muatan untuk kegiatan pengapalan. Kondisi              availability for shipping activities. This condition
tersebut menyebabkan terbatasnya volume kargo          resulted in limited cargo volumes in the market and
di pasar dan meningkatkan tingkat persaingan           intensified competition among shipping companies,
antar perusahaan pelayaran, sehingga menuntut          thereby requiring the Company to manage its fleet
Perseroan untuk mengelola armada secara lebih          more efficiently, adaptively, and selectively in order
efisien, adaptif, dan selektif dalam menjaga           to maintain operational continuity.
kesinambungan operasional.


Selain itu, Perseroan juga menghadapi tantangan        In addition, the Company also faced challenges
terkait kondisi armada, di mana sebagian kapal         related to fleet conditions, where a number of
yang dioperasikan telah berusia lebih dari 10 tahun.   vessels in operation are over 10 years old. The aging
Usia kapal tersebut berimplikasi pada peningkatan      fleet has implications for increased maintenance
kebutuhan pemeliharaan, pengendalian biaya             requirements, tighter control of operational costs,
operasional, serta pemenuhan standar keselamatan       as well as the need to comply with increasingly
dan kepatuhan regulasi yang semakin ketat. Oleh        stringent safety standards and regulatory
karena itu, pengelolaan armada yang efisien dan        requirements. Therefore, efficient and well-planned
terencana menjadi faktor penting dalam menjaga         fleet management has become a critical factor in
kinerja operasional dan keberlanjutan usaha            maintaining operational performance and ensuring
Perseroan.                                             the Company’s business sustainability.


Strategi dan Kebijakan Strategis yg                    Strategies and Strategic                       Policies
dijalankan tahun 2025.                                 implemented in 2025.
Sepanjang tahun 2025, Perseroan menjalankan            Throughout 2025, the Company implemented
strategi dan kebijakan strategis yang berfokus         strategies and strategic policies focused on
pada menjaga keberlangsungan usaha di tengah           maintaining business continuity amid the dynamics
dinamika industri pelayaran dan keterbatasan           of the shipping industry and limited cargo
volume muatan. Perseroan menerapkan kebijakan          volumes. The Company adopted a fleet utilization
optimalisasi utilisasi armada melalui pengelolaan      optimization policy through more selective
jadwal operasi yang lebih selektif, efisiensi biaya    operational scheduling, operational cost efficiency,
operasional, serta peningkatan keandalan armada        and enhanced fleet reliability to ensure smooth
guna memastikan kelancaran kegiatan pelayaran.         shipping operations.


Selain itu, Sebagai bagian dari kebijakan strategis,   In addition, as part of its strategic initiatives, the
Perseroan secara aktif menempuh langkah                Company actively pursued business diversification to
diversifikasi kegiatan usaha guna mengurangi           reduce dependence on the bulk cargo transportation
ketergantungan pada sektor angkutan kargo              sector. This diversification is directed toward the
curah. Diversifikasi tersebut diarahkan pada           development of offshore support shipping services,
pengembangan jasa pelayaran penunjang kegiatan         which have different market characteristics and
offshore, yang memiliki karakteristik pasar dan        business cycles. This initiative aims to create
siklus usaha yang berbeda. Langkah ini diambil         more stable alternative revenue streams, expand
untuk menciptakan sumber pendapatan alternatif         the Company’s service portfolio, and strengthen
yang lebih stabil, memperluas portofolio layanan       business resilience in responding to fluctuations in
Perseroan, serta meningkatkan ketahanan usaha          demand within the bulk cargo sector.
dalam menghadapi fluktuasi permintaan di sektor
kargo curah.




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                  Analisa dan Pembahasan Manajemen        Tata Kelola Perusahaan             Laporan Keberlanjutan
                  Management Discussion and Analysis      Corporate governance               Sustainability Report




Peranan Direksi dalam Perumusan dan                     The Role of the Board of Directors
Penerapan Strategi                                      in   Strategy   Formulation   and
                                                        Implementation
Direksi berperan aktif dalam merumuskan dan             The Board of Directors played an active role in
mengarahkan strategi Perseroan dengan fokus             formulating and steering the Company’s strategies,
pada penguatan keberlangsungan usaha di tengah          with a focus on strengthening business sustainability
dinamika industri pelayaran dan terbatasnya             amid the dynamics of the shipping industry and
volume muatan. Dalam hal ini, Direksi menetapkan        constrained cargo volumes. In this regard, the
dan mengawal penerapan kebijakan strategis yang         Board of Directors established and oversaw the
menitikberatkan pada optimalisasi utilisasi armada      implementation of strategic policies emphasizing
melalui pengelolaan jadwal operasi yang lebih           the optimization of fleet utilization through more
selektif, pengendalian biaya yang disiplin, serta       selective operational scheduling, disciplined cost
peningkatan keandalan armada guna menjaga               control, and enhancements in fleet reliability in
efektivitas operasional dan kualitas layanan            order to maintain operational effectiveness and
pelayaran.                                              service quality in shipping operations.


Pencapaian Kinerja                                      Performance Achievement
Pada tahun 2025, Perseroan berupaya menjaga kinerja     In 2025, the Company endeavored to maintain its
keuangan di tengah dinamika usaha yang dihadapi.        financial performance amid the business challenges
Perseroan membukukan pendapatan sebesar Rp55,16         encountered. The Company recorded revenue of
miliar, turun dibandingkan dengan pendapatan tahun      Rp55.16 billion, a decrease compared to the previous
sebelumnya sebesar Rp62,17 miliar. Sejalan dengan       year’s revenue of Rp62.17 billion. In line with this
pendekatan tersebut, Perseroan juga mengelola           approach, the Company also managed its financial
struktur keuangan secara disiplin dan relatif stabil,   structure in a disciplined and relatively stable manner,
dengan total aset sebesar Rp2,05 triliun, liabilitas    with total assets of Rp2.05 trillion, liabilities of Rp1.96
sebesar Rp1,96 triliun, serta ekuitas sebesar Rp46,91   trillion, and equity of Rp46.91 billion.
miliar.


Perseroan berhasil menjaga keberlangsungan              The Company successfully maintained the continuity
operasional usaha pelayaran di tengah dinamika          of its shipping operations amid industry dynamics
industri dan penyesuaian kebijakan pemerintah           and government policy adjustments in the strategic
pada sektor komoditas strategis. Perseroan secara       commodities sector. The Company consistently
konsisten menjalankan kegiatan angkutan muatan          carried out bulk cargo transportation activities
curah dengan mengoptimalkan pemanfaatan armada          by optimizing the utilization of its tug and barge
tug & barges serta kapal supramax, disertai langkah-    fleet as well as supramax vessels, supported by
langkah penguatan tata kelola, efisiensi operasional,   strengthened corporate governance, operational
dan pengelolaan aset yang prudent. Selain itu,          efficiency measures, and prudent asset management.
tahun 2025 menjadi fase persiapan strategis bagi        In addition, 2025 marked a strategic preparation
Perseroan dalam melakukan diversifikasi usaha,          phase for the Company in undertaking business
termasuk penguatan kapabilitas dan kesiapan aset        diversification, including strengthening capabilities
untuk memasuki jasa penunjang kegiatan offshore         and asset readiness to enter offshore support services,
yang direncanakan mulai berjalan pada tahun 2026.       which are planned to commence in 2026. These
Pencapaian tersebut mencerminkan komitmen               achievements reflect the Company’s commitment
Perseroan untuk tetap adaptif, menjaga fundamental      to remain adaptive, maintain strong business
usaha, serta meletakkan dasar pertumbuhan yang          fundamentals, and lay the foundation for sustainable
berkelanjutan bagi kinerja Perseroan di masa            growth in its future performance.
mendatang.




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        Ikhtisar Perseroan             Laporan Manajemen               Profil Perusahaan
        Company Summary                Management Report               Company Profile




Pandangan terhadap Prospek Usaha                              View on Business Prospects
Memasuki 2026 dan tahun-tahun mendatang, Dewan                Entering 2026 and the years ahead, the Board of
Direksi memandang prospek usaha PT Cakra Buana                Directors believes that the business prospects of
Resources Energi Tbk tetap terjaga meskipun pada              PT Cakra Buana Resources Energi Tbk remain well-
lini jasa angkutan muatan curah saat ini menghadapi           maintained, although the bulk cargo transportation
tantangan berupa penurunan permintaan akibat                  segment is currently facing challenges in the form
penyesuaian dan pembatasan kebijakan pemerintah               of declining demand due to policy adjustments and
di sektor komoditas strategis, khususnya batubara             restrictions in the strategic commodities sector,
dan nikel. Pembatasan tersebut pada dasarnya tidak            particularly coal and nickel. These restrictions are
berada pada aspek distribusi, melainkan pada sisi hulu        not primarily related to distribution, but rather to
dan tata niaga, termasuk pengaturan produksi dan              upstream activities and trading governance, including
perizinan, yang berdampak tidak langsung terhadap             production controls and licensing arrangements,
ketersediaan muatan untuk kegiatan pengapalan.                which indirectly affect cargo availability for shipping
Dalam merespons kondisi tersebut, Perseroan                   activities. In response to these conditions, the
terus mengoptimalkan pemanfaatan armada tug                   Company continues to optimize the utilization of
& barges serta kapal supramax, sambil secara                  its tug and barge fleet as well as supramax vessels,
aktif mendiversifikasi sumber pendapatan melalui              while actively diversifying its revenue streams
pengembangan jasa penunjang kegiatan offshore                 through the development of offshore support
yang mulai dijalankan pada tahun 2026, dengan                 services, which commenced in 2026, supported by
dukungan aset kapal pipe laying dan lifting vessel.           pipe-laying and lifting vessels. The Board of Directors
Dewan Direksi optimistis bahwa strategi diversifikasi         remains optimistic that the Company’s business
usaha, penguatan efisiensi operasional, serta                 diversification strategy, strengthened operational
pengelolaan aset yang prudent akan memperkuat                 efficiency, and prudent asset management will
ketahanan kinerja Perseroan dan membuka peluang               enhance its performance resilience and create
pertumbuhan yang berkelanjutan di tengah dinamika             sustainable growth opportunities amid the dynamics
industri maritim dan energi.                                  of the maritime and energy industries.


Pandangan atas Penerapan Tata Kelola                          Implementation                 of          Corporate
Perusahaan                                                    Governance
Direksi terus menyempurnakan penerapan GCG sesuai             The Board of Directors continues to enhance the
dengan kebijakan yang berlaku, khususnya dalam                implementation of GCG in accordance with applicable
memastikan kepatuhan Perseroan terhadap ketentuan             policies, particularly in ensuring the Company’s
pasar modal dan peraturan terkait lainnya. Bersama            compliance with capital market regulations and other
dengan organ perusahaan lainnya, termasuk Sekretaris          relevant laws and regulations. Together with other
Perusahaan dan Unit Audit Internal, Direksi memperkuat        corporate organs, including the Corporate Secretary
implementasi prinsip-prinsip GCG di seluruh divisi, sejalan   and the Internal Audit Unit, the Board of Directors
dengan penguatan sistem pengendalian internal dan             strengthens the application of GCG principles across
manajemen risiko guna menjaga aset, serta memastikan          all divisions, in line with the reinforcement of internal
kinerja operasional dan keuangan Perseroan berjalan           control systems and risk management to safeguard
secara efektif. Selain itu, Direksi secara aktif meminta      assets and to ensure the effective conduct of the
pandangan dan nasihat Dewan Komisaris, termasuk               Company’s operational and financial performance. In
terkait penerapan sistem pengendalian internal,               addition, the Board of Directors actively seeks the views
manajemen risiko, dan Kode Etik, sebagai bagian dari          and advice of the Board of Commissioners, including
upaya menjaga proses bisnis Perseroan tetap berjalan          with respect to the implementation of internal control
sesuai dengan standar etika dan tata kelola yang tinggi.      systems, risk management, and the Code of Ethics, as
                                                              part of its efforts to ensure that the Company’s business
                                                              processes continue to be carried out in accordance with
                                                              high ethical and governance standards.


Perubahan Komposisi Direksi                                   Changes in Board of Directors Composition
Dalam periode pelaporan tahun 2025, Perseroan tidak           During the 2025 reporting period, the Company did
melakukan perubahan atas susunan Direksi. Dengan              not make any changes to the composition of the
demikian, susunan Direksi Perseroan per 31 Desember           Board of Directors. Accordingly, the composition of the
2025 adalah sebagai berikut.                                  Company’s Board of Directors as of 31 December 2025
                                                              was as follows:




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                  Analisa dan Pembahasan Manajemen                          Tata Kelola Perusahaan         Laporan Keberlanjutan
                  Management Discussion and Analysis                        Corporate governance           Sustainability Report




•   Direktur Utama               : Suminto Husin Giman                  •    President Director      : Suminto Husin Giman
•   Direktur		                   : Amanda Octania                       •    Director    	           : Amanda Octania




                                        Direktur Utama :                           Direktur :
                                        President Director                          Director
                                 SUMINTO HUSIN GIMAN                         AMANDA OCTANIA




Penutup                                                                 Closing
Demikian Laporan Pengelolaan dan Pengurusan                             Thus concludes the Company’s Management and
Perseroan selama tahun 2025. Direksi menyampaikan                       Stewardship Report for the year 2025. The Board of
terima kasih kepada Dewan Komisaris atas saran,                         Directors expresses its sincere appreciation to the
nasihat, dan rekomendasi yang telah diberikan, serta                    Board of Commissioners for the guidance, advice,
kepada seluruh karyawan, mitra usaha, masyarakat,                       and recommendations provided, as well as to all
dan pemangku kepentingan lainnya atas kepercayaan                       employees, business partners, the community, and
dan dukungan yang berkelanjutan kepada PT Cakra                         other stakeholders for their continued trust and support
Buana Resources Energi Tbk. Dengan komitmen yang                        toward PT Cakra Buana Resources Energi Tbk. With the
sama, Perseroan akan terus berupaya meningkatkan                        same level of commitment, the Company will continue
kinerja dan menciptakan nilai bagi seluruh pemangku                     to strive to enhance its performance and create value for
kepentingan di masa mendatang.                                          all stakeholders in the future.


                                    Atas Nama Direksi,/On behalf of the Board of Directors,




                                                             Suminto Husin Giman
                                                   Direktur Utama/President Director




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Page 40
          Profil
          Perusahaan
          Company Profile




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Annual and Sustainability Report 2025   PT CAKRA BUANA RESOURCES ENERGI Tbk
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       Ikhtisar Perseroan                Laporan Manajemen                Profil Perusahaan
       Company Summary                   Management Report                Company Profile




Identitas
Perusahaan
Company Identity


Nama Perusahaan
Company Name
                            :
                                PT Cakra Buana Resources Energi Tbk
Bidang Usaha                : a. Angkutan laut dalam negeri untuk barang umum.
Line of Business                 Domestic maritime transport of general cargo
                                b. Angkutan Laut Luar Negeri Untuk Barang Umum; dan
                                   International maritime transport of general cargo; and
                                b. Aktivitas Penunjang Angkutan Perairan Lainnya.
                                   Other Water Transportation Support Activities.

Status Perusahaan           : Perusahaan Terbuka
Company Status                Public Company

Tanggal Pendirian           : 17 Juni/June 2016
Date of Establishment

Dasar Hukum Pendirian : Akta Pendirian Perseroan Terbatas No. 5 tertanggal 17 Juni 2016, yang dibuat
Legal Basis of          di hadapan Bonifasius S. Wibowo, S.H., M.Kn., Notaris di Kabupaten Cianjur,
Establishment           yang telah memperoleh pengesahan berdasarkan Keputusan Menteri Hukum
                        dan Hak Asasi Manusia Republik Indonesia No. AHU- 0029831.AH.01.01.Tahun
                        2016 tanggal 21 Juni 2016 dan Daftar Perseroan No. AHU-0076038.AH.01.11.
                        Tahun 2016 tanggal 21 Juni 2016 diumumkan dalam Berita Negara Republik
                        Indonesia (BNRI) No. 053 tanggal 5 Juli 2022 Tambahan No. 022081. / Deed of
                        Establishment of Limited Liability Company No. 5 dated 17 June 2016, made before
                        Bonifasius S. Wibowo, S.H., M.Kn., Notary inCianjur Regency, has been validated
                        based on Minister of Laws and Human Rights of the Republic of Indonesia Decision
                        No. AHU-0029831. AH.01.01.Tahun 2016 dated 21 June 2016 and Company Register
                        No. AHU-0076038.AH.01.11.Tahun 2016 dated 21 June 2016 published in State
                        Gazette of the Republic of Indonesia (BNRI) No. 053 dated 5 July 2022 Supplement
                        No. 022081.

Modal Dasar                 : Rp200.000.000.000
Authorized Capital

Modal Ditempatkan           : Rp95.000.000.000
dan Disetor Penuh
Issued and Fully Paid
Capital

Tanggal Pencatatan          : 9 Januari/January 2023
Saham/Stock Listing
Date

Lembaga Pencatatan          : Bursa Efek Indonesia
Saham/Recording               Indonesia Stock Exchange
Agency Share
Kode Saham/Ticker Code      :
                                CBRE
Lokasi Usaha                : Wilayah Perairan Indonesia dan Luar Negeri
Business Location             Indonesian and Foreign Waters




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                  Analisa dan Pembahasan Manajemen                  Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis                Corporate governance             Sustainability Report




   Jumlah Karyawan                  : 38 orang
   Number of Employees                38 people

   Alamat Kantor Pusat              : Sahid Sudirman Center lt. 42 Unit B
   [POJK51.C2]
                                      Jl. Jend. Sudirman Kav. 86
   Head Office [POJK51.C2]            Jakarta Selatan, 10220
                                        Telp/ Phone		             : (021) 2585 8070
                                        Situs Web/ Website        : www.cbre.co.id
                                        E-mail 			                : corporate.secretary@cbre.co.id

   Kepemilikan Saham                :
   Shareholding



                                                                                     22,57%


                                                        61,13%
                                                                    2025
                                                                                    11,30%


                                                                            5,00%



                                            PT Omudas Invesment Holdco		              61,13%

                                            Masyarakat/ Public 			                    22,57%

                                            PT Republik Capital Indonesia 		          11,30 %
                                            Andry Hakim				5,00%


Perubahan yang Bersifat Material dan                              Material          and       Significant     Changes
Signifikan [POJK51-C.6]                                           [POJK51-C.6]



Pada tahun 2025, Perseroan melakukan penambahan                   In 2025, the Company undertook a material addition
aset dengan membelikan 1 Unit Kapal Offshore                      to its assets through the acquisition of one Offshore
Support Vessel berjenis Pipe Laying & Lifting Vessel              Support Vessel in the form of a Pipe Laying & Lifting
(PLLV). Pembelian ini dilakukan dari Hilong Shipping              Vessel (PLLV). The vessel was acquired from Hilong
Holding Limited (Hilong Group) dengan nilai USD100                Shipping Holding Limited (Hilong Group) with a
juta. Pembelian kapal ini untuk mendukung ekspansi                transaction value of USD 100 million. This acquisition
Perseroan pada kegiatan usaha baru di bidang                      was made to support the Company’s expansion into
Infrastruktur bawah laut dan Layanan energi lepas                 new business activities in the subsea infrastructure and
pantai.                                                           offshore energy services sectors.




Annual and Sustainability Report 2025                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
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     Ikhtisar Perseroan        Laporan Manajemen          Profil Perusahaan
     Company Summary           Management Report          Company Profile




Jejak Langkah
Milestones

                                               2016

 Pengadaan aset 6 unit kapal (3 set kapal)         Procurement of assets of 6 ships (3 sets of
 untuk mendukung kegiatan usaha.                   ships) to support business activities.


                                               2023
 Perseroan telah melakukan pencatatan              The Company has effectively listed its initial
 perdana saham secara efektif pada tanggal 9       shares on January 9, 2023.
 Januari 2023.



                                               2024

 Perseroan telah berhasil mengadakan 1 (satu)      The Company has successfully procured 1
 unit kapal Bulk Carrier Supramax dengan           (one) unit of Supramax Bulk Carrier ship with
 kapasitas 53.000 DWT, yang diberi nama MV         a capacity of 53,000 DWT, which is named MV
 Majestic Laksono.                                 Majestic Laksono



                                               2025

 Perseroan melakukan pembelian aset berupa            The Company purchased an asset in the form
 kapal jenis Offshore Service Vessel (OSV) tipe       of an Offshore Service Vessel (OSV) type Pipe
 Pipe Laying & Lifting Vessel atas nama kapal         Laying & Lifting Vessel, HAI LONG 106.
 HAI LONG 106.
 Perseroan melakukan penambahan kegiatan              The Company added business activities under
 usaha dengan KBLI 50141 (Angkutan Laut               KBLI 50141 (Domestic Sea Transportation for
 Dalam Negeri Untuk Barang Umum) & KBLI               General Goods) and KBLI 5229 (Other Water
 5229 (Aktivitas Penunjang Perairan Lainnya).         Support Activities).
 Perseroan    telah  memperoleh   kontrak             The Company has secured a long-term
 kerjasama jangka panjang atas kegiatan               cooperation contract for the HAI LONG 106
 sewa kapal HAI LONG 106 dengan sistem                vessel charter under a time charter system
 (time charter) dengan PT Gunanusa Utama              with PT Gunanusa Utama Fabricators.
 Fabricators




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                  Analisa dan Pembahasan Manajemen             Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis           Corporate governance             Sustainability Report




Riwayat Singkat
Brief History
PT Cakra Buana Resources Energi Tbk (Perseroan) mulai        PT Cakra Buana Resources Energi Tbk (the “Company”)
beroperasi secara komersial pada 17 Juni 2016 sebagai        commenced its commercial operations on June 17, 2016
perusahaan pelayaran nasional yang berfokus pada             as a national shipping company focused on providing sea
penyediaan jasa angkutan laut untuk barang umum di           transportation services for general cargo across various
berbagai wilayah perairan Indonesia. Dalam menjalankan       Indonesian waters. In conducting its business activities,
kegiatan usahanya, Perseroan didukung oleh armada            the Company is supported by a fleet of tugboats and
kapal tunda (tugboat) dan kapal tongkang (barge) yang        barges that are fully licensed in accordance with
telah dilengkapi dengan perizinan sesuai ketentuan           applicable regulations, including the Sea Transportation
yang berlaku, termasuk Surat Izin Usaha Perusahaan           Business License (SIUPAL). Since the commencement
Angkutan Laut (SIUPAL). Sejak awal operasional,              of operations, the Company has served a wide range
Perseroan melayani berbagai kebutuhan angkutan               of domestic and international clients through time
laut bagi klien domestik maupun internasional melalui        charter, freight charter, and ship management service
skema layanan time charter, freight charter, dan ship        schemes, with a strong emphasis on safety, reliability,
management, dengan mengedepankan keselamatan,                and compliance with maritime standards.
keandalan, dan kepatuhan terhadap standar pelayaran.

Seiring dengan perkembangan usaha, Perseroan secara          In line with business development, the Company has
konsisten meningkatkan kinerja operasional melalui           consistently enhanced its operational performance
penambahan dan diversifikasi armada, perluasan basis         through fleet expansion and diversification, customer
pelanggan, serta peningkatan fleksibilitas layanan. Selain   base enlargement, and increased service flexibility.
itu, Perseroan mempertahankan keunggulan operasional         In addition, the Company maintains its operational
yang didukung oleh sumber daya manusia maritim yang          excellence supported by experienced maritime human
berpengalaman dalam menangkap peluang pasar dan              resources capable of capturing market opportunities
mendorong pertumbuhan usaha yang berkelanjutan.              and driving sustainable business growth. On January
Pada 9 Januari 2023, Perseroan secara resmi mencatatkan      9, 2023, the Company officially listed its shares on the
sahamnya di Bursa Efek Indonesia, sebagai bagian             Indonesia Stock Exchange, as part of its transformation
dari transformasi dari perusahaan tertutup menjadi           from a private company into a public company, with
perusahaan terbuka, dengan tujuan memperkuat struktur        the objectives of strengthening its capital structure,
permodalan, meningkatkan modal kerja, serta mendukung        increasing working capital, and supporting operational
keberlanjutan dan pengembangan operasional.                  sustainability and development.

Pada tahun 2024, Perseroan mengambil langkah                 In 2024, the Company undertook a strategic initiative to
strategis dalam rangka mendukung pengembangan dan            support the development and expansion of its business
ekspansi kegiatan usaha dengan melakukan penambahan          activities by adding 1 (one) unit of a mother vessel to
aset berupa 1 (satu) unit kapal mother vessel. Investasi     its asset portfolio. This investment forms part of the
ini merupakan bagian dari upaya Perseroan untuk              Company’s efforts to strengthen its operational capacity
memperkuat kapasitas operasional serta meningkatkan          and enhance its competitiveness in the shipping and
daya saing di industri pelayaran dan logistik maritim.       maritime logistics industry.

Pada tahun 2025, Perseroan memasuki fase transformasi        In 2025, the Company entered a phase of strategic
strategis dengan memperluas kegiatan usaha ke sektor         transformation by expanding its business activities
minyak dan gas lepas pantai melalui pembentukan Divisi       into the offshore oil and gas sector through the
Offshore Support Services, yang didukung oleh investasi      establishment of an Offshore Support Services Division,
pada aset bernilai strategis berupa Pipe Laying and          supported by investments in strategically valuable assets
Lifting Vessel. Langkah ini memungkinkan Perseroan           in the form of a Pipe Laying and Lifting Vessel. This
untuk berpartisipasi dalam proyek-proyek infrastruktur       initiative enables the Company to participate in offshore
lepas pantai dan bawah laut, termasuk instalasi pipa,        and subsea infrastructure projects, including pipeline
operasi pengangkatan, dan pekerjaan konstruksi lepas         installation, lifting operations, and other offshore
pantai lainnya. Dengan penerapan strategi bisnis yang        construction works. Through the implementation of
terarah dan prudent, serta penguatan kompetensi              focused and prudent business strategies, as well as the
dan kesejahteraan sumber daya manusia, Perseroan             continuous enhancement of human capital competence
optimistis dapat merealisasikan visi untuk menjadi           and welfare, the Company remains optimistic in realizing
perusahaan maritim terintegrasi yang berdaya saing           its vision to become a highly competitive integrated
tinggi dan mampu menciptakan pertumbuhan jangka              maritime company capable of generating sustainable
panjang yang berkelanjutan.                                  long-term growth.



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         Ikhtisar Perseroan                Laporan Manajemen                     Profil Perusahaan
         Company Summary                   Management Report                     Company Profile




Visi, Misi, dan Nilai                                                Company Vision, Mission
Perusahaan [POJK51-C1]                                               and Values [POJK51-C1]


     Visi
     Vision
     Menjadi perusahaan terdepan dalam
     pengelolaan armada kapal serta penyedia
     jasa penunjang kegiatan operasi minyak
     dan gas bumi di industri energi, baik di
     kancah nasional maupun internasional.


                                                                                              Misi
     To become a leading company in fleet management
     and provider of supporting services for oil and
     gas operations within the energy industry, both at

                                                                                             Mission
     national and international levels.



 •    Menyediakan layanan pengelolaan armada kapal serta jasa         •   Provide reliable, safe, and efficient fleet management
      penunjang kegiatan operasi minyak dan gas bumi yang                 services and supporting services for oil and gas operations,
      andal, aman, dan efisien, dengan mengedepankan standar              by upholding the highest professional standards.
      profesional tertinggi.
 •    Menjadi mitra strategis yang terpercaya dalam layanan           •   To become a trusted strategic partner in energy, mining,
      transportasi energi, pertambangan, dan industri, melalui            and industrial transportation services through service
      kualitas layanan, ketepatan waktu, serta kinerja operasional        excellence, timeliness, and strong operational performance.
      yang unggul.
 •    Mengembangkan usaha secara berkelanjutan melalui                •   To develop the business sustainably through fleet
      peningkatan kapasitas armada, inovasi operasional, serta            expansion, operational innovation, and value-added service
      diversifikasi layanan yang bernilai tambah.                         diversification.
 •    Menerapkan prinsip tata kelola perusahaan yang baik (Good       •   To implement good corporate governance, effective risk
      Corporate Governance), manajemen risiko yang efektif,               management, and full compliance with applicable laws and
      serta kepatuhan terhadap peraturan perundang-undangan.              regulations.
 •    Meningkatkan kualitas sumber daya manusia melalui               •   To enhance human capital quality through competency
      pengembangan kompetensi, budaya keselamatan kerja,                  development, safety culture, and a productive and integrity-
      serta lingkungan kerja yang produktif dan berintegritas.            driven work environment.
 •    Memberikan kontribusi positif kepada pemangku                   •   To contribute positively to stakeholders, including
      kepentingan, termasuk masyarakat dan negara, melalui                communities and the nation, through responsible and
      praktik usaha yang bertanggung jawab dan berkelanjutan.             sustainable business practices.




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                  Management Discussion and Analysis           Corporate governance             Sustainability Report




Nilai Perusahaan                                          Company Values


   COMPETENCE
    Mutu pelayanan diwujudkan dengan memberikan pelayanan jasa angkutan laut kepada pelanggan didukung
    dengan kemampuan kompetensi dari armada kapal dan sumber daya manusia yang ada. / The quality of
    service is realized by providing sea transportation services to customers supported by the competency
    capabilities of the existing fleet and human resources.


                                                                                        BENEFICIAL
              Mutu pelayanan diwujudkan dengan memberikan respon yang cepat kepada para pelanggan dalam
            memenuhi kebutuhan dan/atau menanggapi keluhan dari permasalahan yang timbul. / Service quality
                is realized by providing a fast response to customers in meeting their needs and or responding to
                                                                            complaints from problems that arise.



   RESPONSIVE
   Mutu pelayanan diwujudkan dengan memberikan respon yang cepat kepada para pelanggan dalam
   memenuhi kebutuhan dan/atau menanggapi keluhan dari permasalahan yang timbul. / Service quality is
   realized by providing a fast response to customers in meeting their needs and or responding to complaints
   from problems that arise.




                                                                                            EMPATHY
    Mutu pelayanan diwujudkan dengan kemauan sumber daya manusia untuk peduli dan memperhatikan
    setiap pelanggan, meliputi kemudahan dalam melakukan hubungan komunikasi yang baik, perhatian,
    dan memahami kebutuhan para pelanggan. / Service quality is realized by the willingness of human
    resources to care and pay attention to each customer, including the ease of making good communication
    relationships, caring and understand customer needs.




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         Company Summary                   Management Report                       Company Profile




Bidang Usaha [POJK51-C.4]                                             Business Fields [POJK51-C.4]
Sesuai dengan Anggaran Dasar, Perseroan menjalankan                   In accordance with its Articles of Association, the
kegiatan usaha di bidang angkutan laut dalam negeri                   Company conducts business activities in domestic
untuk barang umum melalui pengoperasian armada                        sea transportation for general cargo through the
kapal yang melayani pelabuhan di seluruh wilayah                      operation of a fleet of vessels serving ports throughout
Indonesia, baik pada trayek tetap dan terjadwal (liner)               Indonesia, both on fixed and scheduled routes (liner)
maupun trayek tidak tetap dan tidak terjadwal (tramper).              and on non-fixed and non-scheduled routes (tramper).
Selain itu, Perseroan juga menyediakan jasa persewaan                 In addition, the Company also provides crewed charter
angkutan laut dengan operator (crewed charter) sebagai                sea transportation services as part of its service
bagian dari diversifikasi layanan. Seluruh kegiatan usaha             diversification strategy. All such business activities are
tersebut dilaksanakan dengan memenuhi ketentuan                       carried out in compliance with applicable licensing
perizinan sesuai peraturan perundang-undangan                         requirements and prevailing laws and regulations,
yang berlaku sebagai wujud komitmen Perseroan                         reflecting the Company’s commitment to conducting its
dalam menjalankan usaha secara tertib, aman, dan                      operations in an orderly, safe, and sustainable manner.
berkelanjutan.


Berdasarkan Pasal 3 Anggaran Dasar Perseroan                          Based on Article 3 of the Company’s Articles of
sebagaimana tercantum pada Akta Pernyataan                            Association as stated in the Deed of Statement of
Keputusan Rapat No.19 tanggal 10 November                             Meeting Resolutions No. 19 dated November 10, 2025,
2025, dibuat di hadapan Yulia, S.H., Notaris di di                    drawn up before Yulia, S.H., Notary in South Jakarta.
Jakarta Selatan. Akta tersebut telah disetujui oleh                   The deed has been approved by the Minister of Law and
Menkum dengan Surat Keputusan No.AHU-0075384.                         Human Rights pursuant to Decree No. AHU-0075384.
AH.01.02.TAHUN 2025 tanggal 12 November 50 2025                       AH.01.02.TAHUN 2025 dated November 12, 2025, and
dan didaftarkan dalam Daftar Perseroan dibawah                        registered in the Company Register under No. AHU-
No.AHU-0261409.AH.01.11.TAHUN 2025 tanggal 12                         0261409.AH.01.11.TAHUN 2025 dated November 12,
November 2025 (“Akta No.19/2025”), Perseroan saat                     2025 (“Deed No. 19/2025”), the Company is currently
ini menjalankan usaha dalam bidang:                                   engaged in the following business activities:


a. Angkutan Laut Dalam Negeri untuk Barang Umum;                      a. Domestic maritime transport of general cargo
b. Angkutan Laut Luar Negeri Untuk Barang Umum; dan                   b. International maritime transport of general cargo; and
c. Aktivitas Penunjang Angkutan Perairan Lainnya.                     c. Other Water Transportation Support Activities.




Perizinan Perseroan                                                   Company Licensing

         Jenis Usaha                     Nomor, Tanggal, dan Instansi                                   Keterangan
       Type of Business                  Number, Date, and Institution                                  Description

Perizinan Berusaha Berbasis       Perizinan Berusaha Berbasis Risiko No. Induk     Berlaku di seluruh wilayah Republik Indonesia
Risiko Nomor Induk Berusaha       Berusaha No. 8120201742162 diterbitkan           selama menjalankan kegiatan usaha dan berlaku
(NIB RBA)/ Risk-Based Business    tanggal 26 Juli 2018 dengan perubahan            sebagai Angka Pengenal Importir (API-P), Hak Akses
license Business Identification   keempat pada 9 Feberuari 2023 yang               Kepabeanan, Pendaftaran Kepesertaan Jaminan Sosial
Number (NIB RBA)                  dikeluarkan oleh Lembaga Online Single           Kesehatan dan Jaminan Sosial Ketenagakerjaan,
                                  Submission (OSS) dengan Klasifikasi Baku         serta bukti Pemenuhan Laporan Pertama Wajib Lapor
                                  Lapangan Usaha Indonesia (KBLI) 50131./ The      Ketenagakerjaan di Perusahaan (WLKP). / The license
                                  Company holds a Risk-Based Business License      is valid throughout the territory of the Republic of
                                  with Business Identification Number (NIB)        Indonesia for the conduct of business activities and also
                                  No. 8120201742162, issued on July 26, 2018,      serves as an Importer Identification Number (API-P),
                                  with the fourth amendment dated February 9,      Customs Access Rights, registration for Health Social
                                  2023, issued by the Online Single Submission     Security and Employment Social Security programs,
                                  (OSS) authority, under the Indonesian Standard   as well as proof of fulfillment of the initial mandatory
                                  Industrial Classification (KBLI) code 50131.     manpower reporting obligation (Mandatory Manpower
                                                                                   Report/WLKP).




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                  Management Discussion and Analysis                         Corporate governance                         Sustainability Report




Perizinan Perseroan                                                       Company Licensing

          Jenis Usaha                      Nomor, Tanggal, dan Instansi                                        Keterangan
        Type of Business                   Number, Date, and Institution                                       Description

Izin Usaha (Izin Usaha Angkutan     Izin Usaha (Izin Usaha Angkutan Laut) dengan       Izin usaha ini telah memenuhi komitmen dan berlaku
Laut) / Business License            tanggal terbit izin usaha proyek pertama tanggal   efektif selama pelaku usaha menjalankan usaha dan/
(Sea Transportation Business        26 Juli 2018, dengan perubahan pertama             atau kegiatannya sesuai ketentuan peraturan perundang-
License)                            tanggal 17 Februari 2021 yang dikeluarkan oleh     undangan. Perseroan telah memiliki Izin Usaha yang
                                    Lembaga OSS./ The Company holds a Business         diterbitkan oleh Sistem OSS sebelum implementasi
                                                                                       Undang-Undang No. 11 tahun 2020 tentang Cipta Kerja
                                    License (Sea Transportation Business License),
                                                                                       untuk kegiatan usaha dengan KBLI 50131. Berdasarkan
                                    with the initial project business license issued
                                                                                       ketentuan Pasal 562 huruf a Peraturan Pemerintah No. 5
                                    on July 26, 2018, and the first amendment          Tahun 2021, ketentuan pelaksanaan Perizinan Berusaha
                                    dated February 17, 2021, issued by the Online      Berbasis Risiko yang diatur dalam Peraturan Pemerintah
                                    Single Submission (OSS) authority.                 No. 5 Tahun 2021 dikecualikan bagi Pelaku Usaha yang
                                                                                       Perizinan Berusahanya telah disetujui dan berlaku efektif
                                                                                       sebelum Peraturan Pemerintah No. 5 Tahun 2021 berlaku,
                                                                                       termasuk persyaratan-persyaratan yang telah dipenuhi.
                                                                                       / The Business License has met the commitment and is
                                                                                       effective as long as the company runs its business and/or
                                                                                       activities according to provisions of the laws and regulations.
                                                                                       The Company already had Business License issued by OSS
                                                                                       System prior to the implementation of Law No. 11 of 2020
                                                                                       on Job Creation for business activities under KBLI 50131.
                                                                                       Based on provisions of Article 562 letter a Government
                                                                                       Regulation No. 5 of 2021, provision for implementation
                                                                                       of Risk-Based Business License stipulated in Government
                                                                                       Regulation no. 5 of 2021 is excluded for Company whose
                                                                                       business license has been approved and effective prior to
                                                                                       the implementation of Government Regulation No. 5 of
                                                                                       2021, including the fulfilled requirements.
Persetujuan Kesesuaian              PKKPR       untuk       Kegiatan   Berusaha        Persetujuan kesesuaian kegiatan pemanfaatan ruang
Kegiatan Pemanfaatan Ruang          No. 28062210213174187 tanggal 28 Juni 2022         ini berlaku selama 3 tahun terhitung sejak penerbitan
untuk Kegiatan Berusaha             yang dikeluarkan oleh Lembaga OSS untuk KBLI       dan dapat diperpanjang sesuai dengan ketentuan
(PKKPR)/ Approval of Suitability    50131.                                             peraturan perundang-undangan.
of Space Utilization for Business   PKKPR        for       Business    Activities      The approval of suitability of space utilization
Activities (PKKPR)                  No. 28062210213174187 dated June 28, 2022          for business activities is valid for 3 years from the
                                    granted by OSS for KBLI 50131.                     publication date and can be renewed according to
                                                                                       provisions of laws and regulations.
Pernyataan Mandiri Menjaga          Pernyataan Mandiri Menjaga Keselamatan, -
Keselamatan, Keamanan,              Keamanan, Kesehatan, dan Pelestarian fungsi
Kesehatan, dan Pelestarian          Lingkungan (K3L) pada tanggal 1 Juli 2022.
fungsi Lingkungan (K3L) /           The Safety, Security, Health, and Environmental
Independent Statement of            Function Preservation (K3L) on July 1, 2022.
Maintain Safety,
Security, Health, and
Environmental Function
Preservation (K3L)
Surat Pernyataan Kesanggupan        Surat Pernyataan Kesanggupan Pengelolaan Untuk KBLI 50131.
Pengelolaan dan Pemantauan          dan Pemantauan Lingkungan Hidup (SPPL)
Lingkungan Hidup (SPPL) /           tanggal 28 Juni 2022.
Statement of Ability to Manage      Statement of Ability to Manage and Monitor the For KBLI 50131.
and Monitor the Environment         Environment (SPPL) dated June 28, 2022.
(SPPL)




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Perizinan Perseroan                                                   Company Licensing

         Jenis Usaha                     Nomor, Tanggal, dan Instansi                                   Keterangan
       Type of Business                  Number, Date, and Institution                                  Description

Surat Izin Usaha Perusahaan       Surat Izin Usaha Perusahaan Angkutan Laut        Surat izin usaha ini berlaku untuk seluruh wilayah
Angkutan Laut (SIUPAL) /          (SIUPAL) No. 13/1/SIUPAL/PMDN/2017 tanggal       Negara Kesatuan Republik Indonesia terhitung
Sea Transportation Company        27 Februari 2017 yang ditetapkan oleh Kepala     sejak tanggal dikeluarkan, selama perusahaan yang
Business License (SIUPAL)         Badan Koordinasi Penanaman Modal atas nama       bersangkutan menjalankan kegiatan usaha.
                                  Menteri Perhubungan.                             This Business License is valid within the Republic of
                                  Sea Transportation Company Business License      Indonesia since the date of issuance, as long as the
                                  (SIUPAL)      No.    13/1/SIUPAL/PMDN/2017       company concerned is running its business activities.
                                  dated February 27, 2017 granted by Head of
                                  Investment Coordinating Board on behalf of the
                                  Minister of Transportation.
Nomor Pokok Wajib Pajak           No. 76.977.393.8-011.000.                        Untuk kantor Perseroan beralamat di Centurion
(NPWP)/ Tax Identification                                                         Executive Center, Sona Topas Tower, Lantai 5A,
Number (NPWP)                                                                      Jl. Jenderal Sudirman Kav. 26, Karet, Setiabudi, Jakarta
                                                                                   Selatan dan termasuk pada Kantor Pelayanan Pajak
                                                                                   Pratama Jakarta Setiabudi Satu.
                                                                                   For Company Head Office located at Centurion
                                                                                   Executive Center, Sona Topas Tower, 5A Floor,
                                                                                   Jl. Jenderal Sudirman Kav. 26, Karet, Setiabudi, South
                                                                                   Jakarta and served by Tax Office Jakarta Setiabudi Satu.
Surat Keterangan Terdaftar/       Surat Keterangan Terdaftar No. S-4100/KT/        Dikeluarkan oleh Kepala Seksi Pelayanan (yang
Notification of Registration      KPP.040103/2022 tanggal 27 Desember 2022./       bertindak atas nama) Kepala Kantor Pelayanan Pajak
                                  Notification of Registration No. S-4100/KT/      Pratama Jakarta Setiabudi Satu, yang menyatakan
                                  KPP.040103/2022 dated December 27, 2022.         bahwa Perseroan memiliki kewajiban Pajak atas
                                                                                   Pajak Penghasilan (PPh) Wajib Pajak Badan, Pajak
                                                                                   Pertambahan Nilai (PPN), dan Pajak Penjualan atas
                                                                                   Barang Mewah (PPnBM).
                                                                                   Issued by Section Head (act on behalf of) Head of
                                                                                   Tax Office Jakarta Setiabudi Satu, stating that the
                                                                                   Company has a Tax Liability of Taxable Income Tax
                                                                                   (PPh), Value Added Tax (VAT) and Sales Tax on Luxury
                                                                                   Goods (PPnBM).
Surat Pengukuhan Pengusaha        Surat Pengukuhan Pengusaha Kena Pajak            Dikeluarkan oleh Kepala Seksi Pelayanan, bertindak
Kena Pajak/ Taxable Business      No. S-522/PKP/KPP.040103/2022 tanggal 27         atas nama Kepala Kantor Pelayanan Pajak Pratama
Confirmation Letter               Desember 2022./ Taxable Business Confirmation    Jakarta Setiabudi Satu Kantor Wilayah Direktorat
                                  Letter No. S-522/PKP/KPP.040103/2022 dated       Jenderal Pajak Jakarta Selatan I.
                                  December 27, 2022                                Issued by Section Head, act on behalf of Head of
                                                                                   Tax Office Jakarta Setiabudi Satu Regional Office
                                                                                   Directorate General of Taxation South Jakarta I.
Badan Penyelenggara Jaminan       Sertifikat No. 160000000102461 tanggal 18 -
Sosial (BPJS) Ketenagakerjaan /   Juli 2016.
Workers Social Security Agency    Certificate No. 160000000102461 dated July
                                  18, 2016
BPJS Kesehatan/ Healthcare        Sertifikat No. 371/SER/0902/0622 tanggal 16  -
Social Security Agency            Juni 2022.
                                  Certificate No. 371/SER/0902/0622 dated June
                                  16, 2022.




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Perizinan Perseroan                                                  Company Licensing

          Jenis Usaha                    Nomor, Tanggal, dan Instansi                               Keterangan
        Type of Business                 Number, Date, and Institution                              Description

Peraturan Perusahaan/             Peraturan Perusahaan tanggal 7 Januari         Berlaku selama 2 tahun terhitung mulai tanggal
Company Regulation                2026 yang telah mendapatkan pengesahan         ditetapkan, yakni mulai tanggal 7 Januari 2026
                                  berdasarkan Keputusan Kepala Dinas             sampai dengan tanggal 6 Januari 2028.
                                  tenaga Kerja, Transmigrasi, dan Energi         Valid for 2 years, from the date of establishment,
                                  Provinsi DKI Jakarta No. e-0047 Tahun 2026     which is January 7, 2022 to January 6, 2024.
                                  Tentang Pengesahan Peraturan Perusahaan
                                  PT Cakra Buana Resources Energi Tbk.
                                  Company Regulation dated January 7, 2026
                                  which has been ratified based on the Decree
                                  of the Head of the Manpower, Transmigration,
                                  and Energy Office of DKI Jakarta Province
                                  No. e-0047 of 2026 concerning Ratification
                                  of the Company Regulation of PT Cakra
                                  Buana Resources Energi Tbk.
Kartu Tanda Anggota Asosiasi      Sertifikat       Keanggotaan      dengan       Setiap habis masa keanggotaan akan langsung
Persatuan Pengusaha               No. Sertifikat 2505/INSA/VI/2023.              proses diperpanjang.
Pelayaran Niaga Nasional          Membership Certificate No. 2505/INSA/          Every time the membership period ends, the
Indonesia (Indonesian             VI/2023.                                       renewal process will be carried out immediately.
National Shipowners’
Association - INSA) /
Membership Card of the
Indonesian National
Shipowners’ Association
(INSA)




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Produk dan Jasa [POJK51-C.4]                                 Products and Services [POJK51-C.4]

Perseroan bergerak di bidang jasa pelayaran dengan           The Company operates in the shipping services sector,
fokus pada angkutan barang umum (general cargo)              focusing on general cargo transportation as well as the
serta pengembangan jasa pendukung kegiatan lepas             development of offshore support services, through the
pantai (offshore), melalui pengoperasian armada yang         operation of a fleet consisting of 2 (two) tugboats, 4
terdiri dari 2 (dua) unit kapal tunda (tugboat), 4 (empat)   (four) barges, and 1 (one) mother vessel.
unit kapal tongkang (barge), dan 1 (satu) unit mother
vessel.

Perseroan melayani pengangkutan berbagai komoditas           The Company provides transportation services for
curah, antara lain hasil tambang, material konstruksi,       various bulk commodities, including mining products,
alat berat, produk pertanian, serta barang industri          construction materials, heavy equipment, agricultural
lainnya, dengan mengutamakan keandalan, ketepatan            products, and other industrial goods, with a strong
waktu, dan efisiensi layanan.                                emphasis on reliability, timeliness, and service efficiency.

Sebagai bagian dari strategi diversifikasi dan               As part of its diversification and business development
pengembangan usaha, pada tahun 2025 Perseroan                strategy, in 2025 the Company acquired 1 (one) pipe-
telah melakukan akuisisi 1 (satu) unit pipe laying and       laying and lifting vessel (offshore support vessel). As
lifting vessel atau offshore support vessel. Hingga          of the end of the reporting year, the vessel is still in
akhir tahun pelaporan, kapal tersebut masih dalam            the operational preparation stage and has not yet
tahap persiapan operasional dan belum memberikan             contributed to the Company’s business activities. Going
kontribusi terhadap kegiatan usaha Perseroan. Ke             forward, the vessel is planned to support offshore
depan, kapal tersebut direncanakan akan digunakan            operations, including pipeline installation services,
untuk mendukung kegiatan offshore, termasuk jasa             lifting activities, and operational support for the oil and
instalasi pipa, pengangkatan (lifting), serta dukungan       gas sector.
operasional untuk sektor minyak dan gas bumi.

Langkah ini merupakan bagian dari upaya Perseroan            This initiative forms part of the Company’s efforts to
untuk memperluas portofolio layanan dan menciptakan          expand its service portfolio and create new, sustainable
sumber pendapatan baru yang berkelanjutan di industri        revenue streams within the maritime and energy
maritim dan energi. Adapun rincian jasa yang ditawarkan      industries. The details of the services offered by the
oleh Perseroan adalah sebagai berikut.                       Company are as follows:

1. Sewa menurut perjalanan, yaitu jasa penyewaan             1. Voyage Charter, namely vessel charter services
   kapal untuk menyediakan kapal tertentu kepada                under which the Company provides a specific vessel
   pihak penyewa guna mengangkut muatan melalui                 to the charterer to transport cargo by sea for one or
   jalur laut dalam satu perjalanan atau lebih, dengan          more voyages, with freight charges determined on a
   pembayaran biaya pengangkutan yang ditetapkan                per-voyage basis.
   untuk setiap perjalanan.

2. Sewa menurut waktu, yaitu jasa penyewaan kapal            2. Time Charter, namely vessel charter services for a
   untuk jangka waktu tertentu, di mana Perseroan               specified period, whereby the Company provides a
   menyediakan kapal tertentu kepada pihak penyewa              particular vessel to the charterer for use in shipping
   untuk digunakan dalam kegiatan pelayaran sesuai              operations in accordance with the charterer’s
   kebutuhan penyewa, dengan pembayaran sewa yang               requirements, with charter fees calculated based on
   dihitung berdasarkan lamanya periode sewa.                   the duration of the charter period.

3. Pengelolaan kapal, yaitu jasa pengoperasian dan           3. Ship Management, namely vessel operation and
   pengelolaan kapal milik pihak lain, di mana Perseroan        management services for vessels owned by third
   memastikan kapal dikelola dan dioperasikan secara            parties, under which the Company ensures that such
   profesional melalui skema time charter dan/atau              vessels are managed and operated professionally
   freight charter, dengan tetap memperhatikan                  through time charter and/or freight charter schemes,
   kepentingan dan keuntungan bersama antara                    while taking into account the mutual interests and
   pemilik kapal dan Perseroan.                                 benefits of both the vessel owners and the Company.




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Jenis dan Perizinan Kapal Perseroan                             Company Ship Types and Permits



   Wecoy 1




Akta                   :   Akta Pendaftaran Kapal No. 67          Classification      :     ABS
Deed                       tanggal 20 Desember 2018. / Ship
                           Registration Deed No. 67, December     Flag                :     Indonesia
                           20, 2018.

                                                                  Lenght              :     27.87 m
Tanda Selar            :   GT.245 No. 7660/PPm
Tonnage
Measurement                                                       Breadth             :     8.96 m
Number
                                                                  Depth               :     4.26 m
Kind of Vessel         :   Kapal Tunda Baja
                           Steel Tug Boat                         Loa                 :     30.00 m

Builder’s Hull No.     :   H8045                                  Engine              :     Cummins 2 X 1194 KW

Place/Year Built       :   China/1999                             Gross Tonage        :     260

Official Number        :   388754                                 Net Tonage          :     78




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  Wecoy 5




Akta                 :   Akta Pendaftaran Kapal No. 68        Classification       :   ABS
Deed                     tanggal 20 Desember 2018. / Ship
                         Registration Deed No. 68, December   Flag                 :   Indonesia
                         20, 2018

                                                              Lenght               :   27.87 m
Tanda Selar          :   GT.247 No. 7661/PPm
Tonnage
Measurement                                                   Breadth              :   4.25 m
Number
                                                              Depth                :   9.00 m
Kind of Vessel       :   Kapal Tunda Baja
                         Steel Tug Boat                       Loa                  :   30.000 m

Builder’s Hull No.   :   WM29-05                              Engine               :   Cummins 2 x 1194 KW

Place/Year Built     :   China/2001                           Gross Tonage         :   262

Official Number      :   389075                               Net Tonage           :   79




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   TK. WECOY 1801




             DETAIL KAPAL / SHIP’S PARTICULARS


Akta                   :   Akta Pendaftaran Kapal No. 22        Classification      :     BKI
Deed                       tanggal 21 November 2018. / Ship
                           Registration Deed No. 22, November   Flag                :     Indonesia
                           21, 2018.
                                                                Lenght              :     52.67 m
Tanda Selar            :   GT.847 No. 7667/PPm
Tonnage
                                                                Breadth             :     17.07 m
Measurement
Number
                                                                Depth               :     3.66 m
Kind of Vessel         :   Deck Cargo Barge
                                                                Loa                 :     54.86 m
Builder’s Hull No.     :   H-186
                                                                Engine              :     -
Place/Year Built       :   Batam/2007
                                                                Gross Tonage        :     817
Official Number        :   393225
                                                                Net Tonage          :     246




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  TK. GTO 395




           DETAIL KAPAL / SHIP’S PARTICULARS

Akta                 :   Akta Pendaftaran Kapal No. 23          Classification       :   BKI
Deed                     tanggal 21 November 2018 atas
                         nama PT Cakra Buana Resources          Flag                 :   Indonesia
                         Energi. / Ship Registration Deed No.
                         23 dated November 21, 2018 on          Lenght               :   87.84 m
                         behalf of PT Cakra Buana Resources
                         Energi.                                Breadth              :   27.46 m

Tanda Selar          :   GT.3544 No. 7666/PPm                   Depth                :   5.50 m
Tonnage
Measurement                                                     Loa                  :   91.50 m
Number
                                                                Engine               :   -
Kind of Vessel       :   Deck Cargo Barge
                                                                Gross Tonage         :   3544
Builder’s Hull No.   :   SF0119
                                                                Net Tonage           :   1064
Place/Year Built     :   China/2007

Official Number      :   393097




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   TK. MATAHARI 3016




             DETAIL KAPAL / SHIP’S PARTICULARS

Akta                   :   Akta Pendaftaran Kapal No. 19      Classification      :     Indonesia
Deed                       tanggal 21 November 2018. / Ship
                           Registration Deed No. 19 dated     Flag                :     Indonesia
                           November 21, 2018.
                                                              Lenght              :     87.84 m
Tanda Selar            :   Deck Cargo Barge
                                                              Breadth             :     24.40 m
Tonnage
Measurement                                                   Depth               :     5.50 m
Number
                                                              Loa                 :     91.50 m
Kind of Vessel         :   SF0145
                                                              Engine              :     -
Builder’s Hull No.     :   China/2008
                                                              Gross Tonage        :     3116
Place/Year Built       :   394010

Official Number        :   BKI                                Net Tonage          :     935




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  TK. Cakrawala 3009




           DETAIL KAPAL / SHIP’S PARTICULARS


Akta                 :   Akta Pendaftaran Kapal No. 18       Classification       :   BKI
Deed                     tanggal 21 November 2018. / Ship
                         Registration Deed No. 18 dated 21   Flag                 :   Indonesia
                         November 2018.
                                                             Lenght               :   87.84 m
Tanda Selar          :   GT.3123 No. 7665/PPm
                                                             Breadth              :   24.40 m
Tonnage
Measurement                                                  Depth                :   5.50 m
Number
                                                             Loa                  :   91.50 m
Kind of Vessel       :   Deck Cargo Barge
                                                             Engine               :   3123
Builder’s Hull No.   :   HR0719
                                                             Gross Tonage         :   937
Place/Year Built     :   China/2007
                                                             Net Tonage           :   935
Official Number      :   393228




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   TK. Cakrawala 3010




             DETAIL KAPAL / SHIP’S PARTICULARS

Akta                   :   Akta Pendaftaran Kapal No. 20      Classification      :     BKI
Deed                       tanggal 21 November 2018. / Ship
                           Registration Deed No. 20 dated     Flag                :     Indonesia
                           November 21, 2018.
                                                              Lenght              :     87.84 m
Tanda Selar            :   GT.3123 No. 7664/PPm
                                                              Breadth             :     24.40 m
Tonnage
Measurement                                                   Depth               :     5.50 m
Number
                                                              Loa                 :     91.50 m
Kind of Vessel         :   Deck Cargo Barge
                                                              Engine              :     -
Builder’s Hull No.     :   HR0720
                                                              Gross Tonage        :     9123
Place/Year Built       :   China/2007
                                                              Net Tonage          :     937
Official Number        :   393229




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  MAJESTIC LAKSONO




               DETAIL KAPAL / SHIP’S PARTICULARS

Vessel's Name                                  MAJESTIC LAKSONO

Ex-Name                                        SEACON DALIAN

Call Sign                                      YDHV3                          Flag                       INDONESIA

Port of Registry                               JAKARTA                        Official No.               2024 Pst No. 1968/L

IMO No.                                        9456329                        MMSI No.

Date Keel Laid                                 2009                           Date Delivered             August 17, 2010

P&I Insurers                                   The London PnI Club

Owners Full Style                              PT Cakra Buana Resources Energi Tbk

Builder                                        COSCO ZHOUSHAN S/Y, ZS07030

Classification Society                         KR / 1000073

Vessel's Class                                 NS(CSR, BC-A, BC-XII, GRAB 20, PSPC-WBT) (ESP) MNS(M0)

Type of Stem / Type of Stern                   BULBOWS BOW / TRANSOM STERN

Type of Ship                                   BULK CARRIER

International GRT / NRT                        33.054 / 19.231

Suez GRT / NRT                                 33.919,94 / 31.284,96

Panama GRT / NRT / SIN                         / 27'390 / 6005929

LOA / LBP                                      189.99 m / 185.00 m

Breadth Moulded                                32.26 m        Depth Moulded                              18.00 m

FWA                                            288 mm         T.P.C. Summer Draft                        58.8 MT / CM

Height Keel - Bridge Top Mast                  45.86 m        Height Keel - Hatch Cover                  21.2 m

DWT/ Displacement/LIGHT                        DWT/56940.2MT Displacement/ 67681.2MT                   light ship/10741MT

Service Speed (Good Weather)                   EPL            11.94 KNOTS

Main Engine                                    STX MAN B&W 6S50MC-C 1-9480 kW-12'892 BHP x 127 RPM

Diesel Generators                              3 GENERATORS STX MAN B&W HOLEBY 5L23/30




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   HAI LONG 106




                DETAIL KAPAL / SHIP’S PARTICULARS

Name of Ship               GUNANUSA HAI LONG 106
                                                                 Deadweight                 33843 tonners
IMO No.                    8674182
                                                                 L.O.A                      169.0 m
Type                       Pipe Laying
                                                                 L.B.P                      169.0 m
                           Shanghai Zhen Huan Heavy Industries
Builder
                           Co.Ltd                                Breadth Moulded            46.00 M
Owner                      PT Cakra Buana Resources Energi Tbk   Depth Moulded              13.50 M
                           Sahid Sudirman Center Floor 42        Summer Draft               8.70 m
Owner Addres               Jendral Sudirman
                           Street Kav. 86, Centre of Jakarta     Displacement               62081 mt

Keel Laid                  10 September 2009                     Fresh Water Capacity       2788.8 cum

Date of Build              10 Februari 2012                      Fuel Oil Capacity          4440.7 cum

Hull Number                ZPMC1019                              Tank Ballast Capacity      35381.2 cum

Official Number            HK-5831                               Deck Crane Safe
                                                                                            3000 tonnes
                                                                 Working Load
Port of Registry           Jakarta
                                                                 Deck Crane 40T Safe
Call Sign                  YDHN4                                                            40 tonnes
                                                                 Working Load
Immarsat ID No                                                   Light Ship                 28203 mt
MMSI Number                525 110 134                           Maximum tension
                                                                                            100 t
                                                                 capacity
Classfication              ABS
                                                                 Overall pipe outside
Gross Tonnage              40,612                                                           4Ó to 60Ó
                                                                 diameter range
Net Tonnage                12,183




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Wilayah Operasional
Operational Areas

Dalam menjalankan kegiatan usahanya, Perseroan          In conducting its business activities, the Company
mengoperasikan armada yang terdiri dari 2 (dua) unit    operates a fleet consisting of 2 (two) tugboats, 4 (four)
kapal tunda (tugboat), 4 (empat) unit kapal tongkang    barges, and 1 (one) mother vessel (bulk carrier) used
(barge), serta 1 (satu) unit mother vessel jenis bulk   for transporting bulk cargo. The fleet operates within
carrier yang digunakan untuk pengangkutan muatan        national waters, namely Indonesian waters, serving
curah. Armada tersebut beroperasi di wilayah perairan   various transportation needs for commodities such as
nasional atau perairan Indonesia, melayani berbagai     mining products, construction materials, and other
kebutuhan pengangkutan komoditas seperti hasil          industrial goods.
tambang, material konstruksi, serta barang industri
lainnya.


Seiring dengan strategi pengembangan usaha,             In line with its business development strategy, the
Perseroan juga telah melakukan akuisisi 1 (satu) unit   Company has also acquired 1 (one) offshore support
offshore support vessel. Kapal ini dirancang untuk      vessel. This vessel is designed to support offshore
mendukung kegiatan operasi lepas pantai (offshore),     operations, particularly in the oil and gas sector, and
khususnya di sektor minyak dan gas bumi, dan memiliki   is capable of operating not only in Indonesian waters
kemampuan untuk beroperasi tidak hanya di wilayah       but also in international waters, depending on project
perairan Indonesia, tetapi juga di wilayah perairan     requirements and available market opportunities.
internasional sesuai dengan kebutuhan proyek dan
peluang pasar yang tersedia.


Dengan cakupan wilayah operasional tersebut,            With this operational coverage, the Company has the
Perseroan memiliki fleksibilitas dalam melayani         flexibility to serve customer needs in both domestic and
kebutuhan pelanggan baik di pasar domestik maupun       regional markets, while also opening opportunities for
regional, serta membuka peluang ekspansi usaha ke       future expansion into international markets.
pasar internasional di masa mendatang.




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Struktur Organisasi
Organizational Structure
                                               RAPAT UMUM PEMEGANG SAHAM (RUPS)
                                                General Meeting of Shareholders (GMS)




         KOMITE AUDIT                                        DEWAN KOMISARIS
       AUDIT COMMITTEE                                  PRESIDENT COMMISSIONERS

         Ketua Chairman                                Komisaris Utama President Commissioner

     HR AGUNG LAKSONO                                       SUGANTO GUNAWAN
        Anggota Member
                                                    Komisaris                      Komisaris Independen
  Raditia Christine Senjaya                       Commissioner                  Independent Commissioners

        Anggota Member                             Suwito                       Hr Agung Laksono
 Saka Marlinang Nainggolan



                                                             DIREKTUR UTAMA
                                                            PRESIDENT DIRECTOR


                                                           SUMINTO HUSIN GIMAN




        INTERNAL AUDIT                                             DIREKTUR
       INTERNAL AUDITING                                           DIRECTOR


                                                                 AMANDA OCTANIA




                                                                                                                DIV HEAD
                              DPA DRY BULK                                                                     CORPORATE
                                DIVISION                                                                        SUPPORT




   OPERATION                   COMERCIAL               TECHNICAL                        CORPORATE                             PROCUREMENT
    MANAGER                     MANAGER                 MANAGER                      SUPPORT MANAGER                            MANAGER
   (DRY BULK)                  (DRY BULK)              (DRY BULK)



                                                                                                                    PURCHASING &         PURCHASING &
  OPERATION                    COMERCIAL              TECHNICAL                           HR, LEGAL &               PROCUREMENT          PROCUREMENT
  SUPERVISOR                     OFFICER           SUPERINTENDENT                         COMPLIANCE                   OFFICER              OFFICER
  (DRY BULK)                   (DRY BULK)             (DRY BULK)                            OFFICER                  (DRY BULK)           (OFFSHORE)



 SAFETY OFFICER                                       TECHNICAL                        IT & CORPORATE
   (DRY BULK)                                      SUPPORT OFFICER                    SUPPORT OFFICER
                                                      (DRY BULK)



   OPERATION                                                                                GENERAL
SUPPORT OFFICER                                                                             SUPPORT
   (DRY BULK)




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                   KOMITE NOMINASI & REMUNERASI
                     NOMINATION & REMUNERATION
                             COMMITTEE




                       SEKRETARIS PERUSAHAAN
                         CORPORATE SECRETARY




                           AMANDA OCTANIA




                            DIV.HEAD                                               DPA OFFSHORE
                              F.A.T                                                  DIVISION




                                                                                    COMMERCIAL         PORT ENGINEER
                         F.A.T MANAGER                      PORT CAPTAIN
                                                                                     SPECIALIST         (OFFSHORE)
                                                             (OFFSHORE)
                                                                                    (OFFSHORE)




                                                                                                         ROV/DIVING
       ACCOUNTING & TAX                 ACCOUNTING & TAX      OFFSHORE
                                                                                                         SUPERVISOR
        SPV (DRY BULK)                   SPV (OFFSHORE)    SUPERINTENDENT
                                                                                                         (OFFSHORE)



       ACCOUNTING & TAX                 ACCOUNTING & TAX                                                 TECHNICAL
                                                           SAFETY OFFICER
            OFFICER                          OFFICER                                                       OFFICER
                                                             (OFFSHORE)
          (DRY BULK)                       (OFFSHORE)                                                    (OFFSHORE)




         FINANCE STAFF                   FINANCE STAFF     DECK SUPERVISOR
           (DRY BULK)                      (OFFSHORE)        (OFFSHORE)




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         Company Summary                 Management Report              Company Profile




Profil Dewan Komisaris
Board of Commissioners Profile




                                                              Suganto Gunawan
                                                              Komisaris Utama
                                                              President Commissioner

                                                              Warga Negara Indonesia, berdomisili di
                                                              Jakarta dan Usia 54 Tahun
                                                              Indonesian citizen, domiciled in Jakarta and 54 years old



Dasar Pengangkatan                                            Appointment Basis
•   Akta No. 55 tanggal 16 September 2022.                    •   Deed No. 55 dated September 16, 2022.
•   Akta No. 128 tanggal 28 Juni 2023.                        •   Deed No. 128 dated June 28, 2023.
•   Akta No. 91 tanggal 26 Juni 2025.                         •   Deed No. 91 dated June 26, 2025.
Riwayat Pendidikan                                            Educational Background
•   Menempuh pendidikan di Northern Arizona University,       •   Studied at Northern Arizona University, USA (1993).
    Amerika Serikat (1993).                                   •   Master of Business in Finance, Thunderbird Campus
•   Master of Business in Finance, Thunderbird Campus             Arizona, USA (1995).
    Arizona, Amerika Serikat (1995).
Riwayat Pekerjaan                                             Employment History
•   Senior Research Analyst PT Paribas Asia Equity (1996-     •   Senior Research Analyst PT Paribas Asia Equity (1996-
    1998).                                                        1998).
•   Assistant Manager Corporate Finance PT Peregrine Sewu     •   Corporate Finance Assistant Manager PT Peregrine Sewu
    Securities (1998-1999).                                       Securities (1998-1999).
•   Manager Corporate Finance PT Kim Eng Securities (1999-    •   Corporate Finance Manager PT Kim Eng Securities (1999-
    2001).                                                        2001).
•   General Manager Finance & Administration PT Asia          •   Finance & Administration General Manager PT Asia
    Electric Industries (2004-2007).                              Electric Industries (2004-2007).
•   Associate Director Corporate Finance PT Semesta           •   Corporate Finance Associate Director PT Semesta Indovest
    Indovest (2007-2011).                                         (2007-2011).
•   Senior Vice President, Corporate Finance PT Kim Eng       •   Corporate Finance Snior Vice President PT Kim Eng
    Securities (2011-2013).                                       Securities (2011-2013).
•   Komisaris Independen PT Red Planet Indonesia Tbk (2014-   •   Independent Commissioner PT Red Planet Indonesia Tbk
    2021).                                                        (2014-2021).
Rangkap Jabatan                                               Concurrent Positions
•   Komisaris PT Omudas Investment Holdco (sejak 2015).       •   Commissioner PT Omudas Investment Holdco (since 2015).
•   Komisaris PT Republik Capital Indonesia (sejak 2016).     •   Commissioner PT Republik Capital Indonesia (since 2016).
•   Komisaris PT Republik Bogarasa (sejak 2019).              •   Commissioner PT Republik Bogarasa (since 2019).
•   Direktur PT Mandala Armada Nusantara (sejak 2020).        •   Director PT Mandala Armada Nusantara (since 2020).
•   Komisaris PT Merah Putih Raya Energi (sejak 2022).        •   Commissioner PT Merah Putih Raya Energi (since 2022).
•   Komisaris PT Merah Putih Raya Mineral (sejak 2022).       •   Commissioner PT Merah Putih Raya Mineral (since 2022).
Hubungan Afiliasi                                             Affiliation Relationship
Merupakan Pemegang Saham Pengendali Perseroan melalui         Serves as the Controlling Shareholder of the Company
kepemilikan di Entitas Induk.                                 through ownership in the Parent Entity.




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                  Management Discussion and Analysis                  Corporate governance                 Sustainability Report




                                                                  Suwito
                                                                  Komisaris
                                                                  Commissioner

                                                                  Warga Negara Indonesia, berdomisili di
                                                                  Jakarta dan Usia 55 Tahun
                                                                  Indonesian citizen, domiciled in Jakarta and 55 years old



Dasar Pengangkatan                                                Appointment Basis

•   Akta No. 55 tanggal 16 September 2022.                        •    Deed No. 55 dated September 16, 2022.
•   Akta No. 128 tanggal 28 Juni 2023.                            •    Deed No. 128 dated June 28, 2023.
•   Akta No. 91 tanggal 26 Juni 2025.                             •    Deed No. 91 dated June 26, 2025.

Riwayat Pendidikan                                                Educational Background

•   Bachelor of Science, University of Missouri, Amerika          •    Bachelor of Science, University of Missouri, USA (1990).
    Serikat (1990).                                               •    Master of Business, University of Missouri, USA in (1994).
•   Master of Business, University of Missouri, Amerika Serikat
    (1994).

Riwayat Pekerjaan                                                 Employment History

•   Manajer Keuangan CBRE/KOLL Asia Pacific Limited               •    Finance Manager CBRE/KOLL Asia Pacific Limited Newport
    Newport.                                                           Beach.
•   Beach Amerika Serikat dan Jakarta (1995-1997).                •    United States and Jakarta (1995-1997).
•   Direktur Keuangan CBRE Limited Hong Kong (1998-1999).         •    Finance Director CBRE Limited Hong Kong (1998-1999).
•   Chief Executive Officer untuk Greater Asia dari CBRE          •    Chief Executive Officer for Greater Asia of CBRE Limited
    Limited Hong Kong (2000-2006).                                     Hong Kong (2000-2006).
•   Komisaris Utama PT Red Planet Hotels Indonesia (2010-         •    President Commissioner PT Red Planet Hotels Indonesia
    2013).                                                             (2010-2013).
•   Direktur tidak terafiliasi PT Pusako Tarinka Tbk (2013-       •    Unaffiliated Director PT Pusako Tarinka Tbk (2013-2014).
    2014).                                                        •    President Director of the Company (2020-2023).
•   Direktur Utama Perseroan (2020-2023).                         •    President Commissioner of the Company (2023–2024).
•   Komisaris Utama Perseroan (2023-2024).




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        Company Summary                Management Report               Company Profile




                                                                                Profil Dewan Komisaris
                                                                           Board of Commissioners Profile




Rangkap Jabatan                                              Concurrent Positions

•   Founder dan Chief Executive Officer Republik Capital     •   Founder and Chief Executive Officer Republik Capital
    Management Limited Hong Kong (sejak 2007).                   Management Limited Hong Kong (since 2007).
•   Komisaris PT Red Planet Hotel Bekasi (sejak 2011).       •   Commissioner PT Red Planet Hotel Bekasi (since 2011).
•   Komisaris PT Red Planet Hotels Indonesia (sejak 2011).   •   Commissioner of PT Red Planet Hotels Indonesia (since
                                                                 2011).
•   Komisaris PT Planet Merah Sepuluh (sejak 2012).
                                                             •   Commissioner of PT Planet Merah Sepuluh (since 2012).
•   Komisaris PT Planet Merah Delapan (sejak 2012).          •   Commissioner of PT Planet Merah Delapan (in liquidation
•   Komisaris PT Planet Merah Sembilan (sejak 2012).             process) (since 2012).
•   Komisaris PT Planet Merah Depok (sejak 2012).            •   Commissioner of PT Planet Merah Sembilan (since 2012).
•   Komisaris PT Red Planet Hotels Tangerang (sejak 2012).   •   Commissioner PT Planet Merah Depok (since 2012).
•   Komisaris PT Solusi Bintang Cemerlang (sejak 2012).      •   Commissioner PT Red Planet Hotels Tangerang (since
•   Komisaris PT Red Planet Hotels Solo (sejak 2012).            2012).
                                                             •   Commissioner PT Solusi Bintang Cemerlang (since 2012).
•   Komisaris PT Red Planet Hotel Makassar (sejak 2012).
                                                             •   Commissioner PT Red Planet Hotels Solo (since 2012).
•   Komisaris PT Red Planet Hotel Palembang (sejak 2012).    •   Commissioner PT Red Planet Hotel Makassar (since 2012).
•   Komisaris PT Red Planet Hotel Pekanbaru (sejak 2012).    •   Commissioner PT Red Planet Hotel Palembang (since
•   Komisaris PT Red Planet Hotel Surabaya (sejak 2012).         2012).
•   Direktur PT Crio Indonesia (sejak 2014).                 •   Commissioner PT Red Planet Hotel Pekanbaru (since
•   Chief Executive Director PT Komodo Energy (sejak             2012).
    2023).                                                   •   Commissioner PT Red Planet Hotel Surabaya (since 2012).
•   Komisaris PT Cakra Buana Resources Energi Tbk (sejak     •   Director PT Crio Indonesia (since 2014).
    2023).                                                   •   Chief Executive Director PT Komodo Energy (since 2023).
                                                             •   Commissioner PT Cakra Buana Resources Energi Tbk
•   Direktur PT Sanurhasta Mitra Tbk (sejak 2024).
                                                                 (since 2023).
                                                             •   Director of PT Sanurhasta Mitra Tbk (since 2024).

Hubungan Afiliasi                                            Affiliation Relationship

Tidak memiliki hubungan afiliasi dengan Dewan Komisaris      Has no affiliation with the Board of Commissioners,
lainnya, anggota Direksi, dan Pemegang Saham Utama           members of Board of Directors, and the Major or
ataupun Pengendali.                                          Controlling Shareholders.




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                  Management Discussion and Analysis               Corporate governance                Sustainability Report




                                                               H.R. Agung Laksono
                                                               Komisaris Independen
                                                               Independent Commissioner

                                                               Warga Negara Indonesia, berdomisili di
                                                               Jakarta dan Usia 76 Tahun
                                                               Indonesian citizen, domiciled in Jakarta and 76 years old



Dasar Pengangkatan                                             Appointment Basis
•   Akta No. 128 tanggal 28 Juni 2023.                         •    Deed No 128 dated June 28, 2023.
•   Akta No. 91 tanggal 26 Juni 2025.                          •    Deed No. 91 dated June 26, 2025.

Riwayat Pendidikan                                             Educational Background
Sarjana Kedokteran, Universitas Kristen Indonesia, Indonesia   Bachelor of Medicine, Indonesian Christian University,
(1972).                                                        Indonesia (1972).
Riwayat Pekerjaan                                              Employment History
•   Direktur Utama PT Cakrawala Andalas Televisi (ANTV)        •    President Director of PT Cakrawala Andalas Televisi (ANTV)
    (1993-1998).                                                    (1993-1998).
•   Anggota Majelis Permusyawaratan Masyarakat (MPR)           •    Member of the People's Consultative Assembly (MPR) of
    Republik Indonesia (1999-2004).                                 the Republic of Indonesia (1999-2004).
•   Ketua Dewan Pertimbangan Rakyat (DPR) Republik             •    Chairman of the People's Representative Council (DPR) of
    Indonesia (2004-2009).                                          the Republic of Indonesia (2004-2009).
•   Menteri Koordinator Bidang Kesejahteraan Rakyat (2009-     •    Coordinating Minister for People's Welfare (2009-2014).
    2014).
Rangkap Jabatan                                                Concurrent Positions
•   Anggota Dewan Pertimbangan Presiden (sejak 2019).          •    Member of the Presidential Advisory Council (since 2019).
•   Komisaris PT Sejahteraraya Anugrahjaya Tbk (sejak          •    Commissioner of PT Sejahteraraya Anugrahjaya Tbk (since
    2021).                                                          2021).
Hubungan Afiliasi                                              Affiliation Relationship
Tidak memiliki hubungan afiliasi dengan Dewan Komisaris        Has no affiliation with other members of the Board of
lainnya, anggota Direksi, dan Pemegang Saham Utama             Commissioners, members of the Board of Directors, and
ataupun Pengendali.                                            Major or Controlling Shareholders.




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        Company Summary                Management Report             Company Profile




Profil Direksi
Board of Directors Profile




                                                           Suminto Husin Giman
                                                           Direktur Utama
                                                           President Director

                                                           Warga Negara Indonesia, berdomisili di
                                                           Jakarta dan Usia 34 Tahun
                                                           Indonesian citizen, domiciled in Jakarta and 34 years old

Dasar Pengangkatan                                         Appointment Basis
•   Akta No. 55 tanggal 16 September 2022.                 •   Deed No. 55 dated September 16, 2022.
•   Akta No. 128 tanggal 28 Juni 2023.                     •   Deed 128 dated June 28, 2023.
•   Akta No. 91 tanggal 26 Juni 2025.                      •   Deed No. 91 dated June 26, 2025.
Riwayat Pendidikan                                         Educational Background
Bachelor of Marketing Communication, Universitas Bima      Bachelor of Marketing Communication, Universitas Bima
Nusantara, Indonesia (2011).                               Nusantara University, Indonesia (2011).
Riwayat Pekerjaan                                          Employment History
•   HR Expatriate Chevron (2011).                          •   HR Expatriate Chevron (2011).
•   Direktur PT Kratos Terra Energi (2012-2015).           •   Director PT Kratos Terra Energi (2012-2015).
•   Founder Tempo Luang (2014).                            •   Founder of Tempo Luang (2014).
•   Komisaris Utama PT Sambal Nusantara (2013-2015).       •   President Commissioner PT Sambal Nusantara (2013-
•   Operation Perseroan (2016-2018).                           2015).
•   Direktur Perseroan (2018-2022).                        •   Operations the Company (2016-2018).
                                                           •   Director the Company (2018-2022).
Rangkap Jabatan                                            Concurrent Positions
•   Direktur Utama PT Omudas Investment Holdco (sejak      •   President Director of PT Omudas Investment Holdco (since
    2015).                                                     2015).
•   Direktur PT Republik Bogarasa (sejak 2019).            •   Director of PT Republik Bogarasa (since 2019).
•   Direktur Utama PT Mandala Armada Nusantara (sejak      •   President Director of PT Mandala Armada Nusantara
    2020).                                                     (since 2020).
•   Direktur Utama PT Merah Putih Raya Energi (sejak       •   President Director of PT Merah Putih Raya Energi (since
    2022).                                                     2022).
•   Direktur Utama PT Merah Putih Raya Mineral (sejak      •   President Director of PT Merah Putih Raya Mineral (since
    2022).                                                     2022).
•   Direktur PT Soros Samudera Sejahtera (sejak 2019).     •   Director PT Soros Samudera Sejahtera (since 2019).
Hubungan Afiliasi                                          Affiliation Relationship
Tidak memiliki hubungan afiliasi dengan Dewan Komisaris,   Has no affiliation with the Board of Commissioners, other
anggota Direksi lainnya, dan Pemegang Saham Utama          Directors, or the Major and/or Controlling Shareholders.
ataupun Pengendali.




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                  Management Discussion and Analysis               Corporate governance               Sustainability Report




                                                               Amanda Octania
                                                               Direktur
                                                               Director

                                                               Warga Negara Indonesia, berdomisili di
                                                               Jakarta dan Usia 34 Tahun
                                                               Indonesian citizen, domiciled in Jakarta and 34 years old



Dasar Pengangkatan                                             Appointment Basis
•   Akta No. 55 tanggal 16 September 2022.                     •    Deed No. 55 dated September 16, 2022.
•   Akta No. 128 tanggal 28 Juni 2023.                         •    Deed No. 128 dated June 28, 2023.
•   Akta No. 91 tanggal 26 Juni 2025.                          •    Deed No. 91 dated June 26, 2025.
Riwayat Pendidikan                                             Educational Background
•   Sarjana Ekonomi, Sekolah Tinggi Manajemen Transportasi     •    Bachelor of Economics, Sekolah Tinggi Manajemen
    Trisakti, Indonesia (2014).                                     Transportasi Trisakti, Indonesia (2014).
•   Magister Manajemen Sumber Daya Manusia, Sekolah            •    Master in Human Resource Management, Sekolah Tinggi
    Tinggi Ilmu Ekonomi IPWI Jakarta (2018).                        Ilmu Ekonomi IPWI (2018).
Riwayat Pekerjaan                                              Employment History
•   HR Departemen Organization Development PT Astra            •    Astra Daihatsu Motor (ADM) (2012-2013).
    Daihatsu Motor (ADM) (2012-2013).                          •    Senior Administration Staff PT Geo Link Nusantara
•   Senior Staff Administration PT Geo Link Nusantara (2013-        (2013-2015).
    2015).                                                     •    Corporate Support Group PT Republik Capital
•   Corporate Support Group PT Republik Capital Indonesia           Indonesia (RCI Group) (2015-2017).
    (RCI Group) (2015-2017).                                   •    HR & GA Manager KE Babai Tanjung Limited (RCI
•   HR & GA Manager KE Babai Tanjung Limited (RCI Group)            Group) (2015).
    (2015).                                                    •    Corporate Support Manager Company (2016-2021).
•   Corporate Support Manager Perseroan (2016- 2021).          •    HR & GA Manager PT Urban Group Indonesia (2021-
•   HR & GA Manager PT Urban Group Indonesia (2021-2022).           2022).
Rangkap Jabatan                                                Concurrent Positions
•   Direktur PT Catur Dharma Anugerah Surya.                   •    Director of PT Catur Dharma Anugerah Surya.
•   Direktur PT Omudas Investment Holdco (sejak 2022)          •    Director of PT Omudas Investment Holdco (since 2022).
Hubungan Afiliasi                                              Affiliation Relationship
Tidak memiliki hubungan afiliasi dengan Dewan Komisaris,       Has no affiliation with the Board of Commissioners, other
anggota Direksi lainnya, dan Pemegang Saham Utama              Directors, or the Major and/or Controlling Shareholders.
ataupun Pengendali.




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        Company Summary                Management Report              Company Profile




Perubahan Komposisi Dewan Komisaris                        Changes in the Composition of the Board
dan Direksi                                                of Commissioners and Directors


Pada tahun 2025, terjadi perubahan dalam susunan           In 2025, there was a change in the composition of
Dewan Komisaris Perseroan sehubungan dengan                the Company’s Board of Commissioners following the
diterimanya pengunduran diri Bapak George Samuel           acceptance of the resignations of George Samuel and
dan Bapak Rivolinggo Pamudji dari jabatannya sebagai       Rivolinggo Pamudji from their positions as Independent
Komisaris Independen. Dengan demikian, per 31              Commissioners. Accordingly, as of December 31,
Desember 2025, susunan Dewan Komisaris Perseroan           2025, the composition of the Company’s Board of
adalah sebagai berikut:                                    Commissioners was as follows:



Komisaris Utama		            : Suganto Gunawan;            President Commissioner         : Suganto Gunawan;

Komisaris		                  : Suwito; dan                 Commissioner                   : Suwito; and

Komisaris Independen         : H.R. Agung Laksono.         Independent Commissioner : H.R. Agung Laksono.



Sementara itu, sepanjang tahun 2025 tidak terdapat         Meanwhile, throughout 2025, there were no changes in
perubahan dalam susunan Direksi Perseroan, mengingat       the composition of the Company’s Board of Directors, as
Direksi dinilai telah menjalankan tugas dan tanggung       the Board of Directors was assessed to have performed
jawabnya secara efektif serta mampu menjaga                its duties and responsibilities effectively and to have
kesinambungan pengelolaan usaha dan implementasi           maintained continuity in business management
strategi Perseroan. Dengan mempertimbangkan                and strategy implementation. Taking into account
stabilitas manajemen dan kebutuhan keberlanjutan           management stability and operational sustainability
operasional, susunan Direksi Perseroan tetap sebagai       requirements, the composition of the Company’s Board
berikut:                                                   of Directors remained as follows:



Direktur Utama     : Suminto Husin Giman; dan              President Director      : Suminto Husin Giman; and

Direktur		         : Amanda Octania.                       Director                : Amanda Octania.




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Profil Komite Audit
Audit Committee Profile




                                                               H.R. Agung Laksono
                                                               Ketua
                                                               Chairman

                                                               Warga Negara Indonesia, berdomisili di
                                                               Jakarta dan Usia 76 Tahun
                                                               Indonesian citizen, domiciled in Jakarta and 76 years old



Dasar Pengangkatan                                             Appointment Basis
Surat Keputusan Dewan Komisaris No.001/SK-Komisaris/           Board of Commissioners Decree No. 001/SK-Komisaris/CBRE/
CBRE/JKT/VI/2025                                               JKT/VI/2025

Periode Jabatan                                                Term of Office
2025-2030                                                      2025-2030
Riwayat Pendidikan                                             Educational Background
Sarjana Kedokteran, Universitas Kristen Indonesia, Indonesia   Bachelor of Medicine, Indonesian Christian University,
(1972).                                                        Indonesia (1972).
Riwayat Pekerjaan                                              Employment History
•   Direktur Utama PT Cakrawala Andalas Televisi (ANTV)        •    President Director of PT Cakrawala Andalas Televisi (ANTV)
    (1993-1998).                                                    (1993-1998).
•   Anggota Majelis Permusyawaratan Masyarakat (MPR)           •    Member of the People's Consultative Assembly (MPR) of
    Republik Indonesia (1999-2004).                                 the Republic of Indonesia (1999-2004).
•   Ketua Dewan Pertimbangan Rakyat (DPR) Republik             •    Chairman of the People's Representative Council (DPR) of
    Indonesia (2004-2009).                                          the Republic of Indonesia (2004-2009).
•   Menteri Koordinator Bidang Kesejahteraan Rakyat (2009-     •    Coordinating Minister for People's Welfare (2009-2014).
    2014).
Rangkap Jabatan                                                Concurrent Positions
•   Anggota Dewan Pertimbangan Presiden (sejak 2019).          •    Member of the Presidential Advisory Council (since 2019).
•   Komisaris PT Sejahteraraya Anugrahjaya Tbk (sejak          •    Commissioner of PT Sejahteraraya Anugrahjaya Tbk (since
    2021).                                                          2021).
Hubungan Afiliasi                                              Affiliation Relationship
Tidak memiliki hubungan afiliasi dengan Dewan Komisaris        Has no affiliation with other members of the Board of
lainnya, anggota Direksi, dan Pemegang Saham Utama             Commissioners, members of the Board of Directors, and
ataupun Pengendali.                                            Major or Controlling Shareholders.




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                                                               Raditia Christine
                                                               Senjaya
                                                               Anggota
                                                               Member

                                                               Warga Negara Indonesia, berdomisili di
                                                               Jakarta dan Usia 56 Tahun
                                                               Indonesian citizen, domiciled in Jakarta and 56 years old



Dasar Pengangkatan                                             Appointment Basis
Surat Keputusan Dewan Komisaris No.001/SK-Komisaris/           Board of Commissioners Decree No. 001/SK-Komisaris/CBRE/
CBRE/JKT/VI/2025                                               JKT/VI/2025
Riwayat Pendidikan                                             Educational Background
•   Sarjana Akuntasi, Unversitas Trisakti (1991).              •   Bachelor of Accounting, Trisakti University(1991).
•   Magister Administrasi Pendidikan, Universitas Kristen      •   Master of Educational Administration, Indonesian
    Indonesia (2026).                                              Christian University. (2026).
Riwayat Pekerjaan                                              Employment History
•   Temporary Accounting Staff PT Itochu Export Indonesia      •   Temporary Accounting Staff PT Itochu Export Indonesia
    (1992).                                                        (1992).
•   Senior Auditor KAP Drs. Hanadi Soejendro & Rekan (KPMG)    •   Senior Auditor KAP Drs. Hanadi Soejendro & Rekan (KPMG)
    (1993-1995).                                                   (1993-1995).
•   Audit Assistant Manager PriceWaterhouseCoopers (PWC)       •   Audit Assistant Manager PriceWaterhouseCoopers (PWC)
    (1995-2000).                                                   (1995-2000).
•   Independent Consultant PT Eye Corporation (2000-2001).     •   Independent Consultant PT Eye Corporation (2000-2001).
•   Regional Financial Controller (Asia) PT Eye Corporation    •   Regional Financial Controller (Asia) PT Eye Corporation
    (2002-2003).                                                   (2002-2003).
•   Regional Financial Controller (Asia) PT Haura Media Raya   •   Regional Financial Controller (Asia) PT Haura Media Raya
    (2003-2007).                                                   (2003-2007).
•   Independent Consultant PT Insite Media (2003-2007).        •   Independent Consultant PT Insite Media (2003-2007).
•   General Manager Finance and Accounting PT Mediatama        •   General Manager Finance and Accounting PT Mediatama
    Anugrah Citra (Emtek Group) (2007-2010).                       Anugrah Citra (Emtek Group) (2007-2010).
•   Independent Consultant PT Mediatama Anugrah Citra          •   Independent Consultant PT Mediatama Anugrah Citra
    (Emtek Group) (2007-2010).                                     (Emtek Group) (2007-2010).
•   Chief Financial Officer PT Mediatama Anugrah Citra         •   Chief Financial Officer of PT Mediatama Anugrah Citra
    (Emtek Group) (2011-2013).                                     (Emtek Group) (2011-2013).
•   Performance Monitoring Senior Manager PT Mitrabahtera      •   Performance Monitoring Senior Manager of PT
    Segara Sejati Tbk (Indika Group) (2013-2014).                  Mitrabahtera Segara Sejati Tbk (Indika Group) (2013-
•   Deputy Chief Financial Officer PT Mitrabahtera Segara          2014).
    Sejati Tbk (Indika Group) (2015).                          •   Deputy Chief Financial Officer of PT Mitrabahtera Segara
•   Advisor PT Mitrabahtera Segara Sejati Tbk (Indika Group)       Sejati Tbk (Indika Group) (2015).
    (2016).                                                    •   Advisor of PT Mitrabahtera Segara Sejati Tbk (Indika
                                                                   Group) (2016).
Rangkap Jabatan                                                Concurrent Positions
•   Independent Consultant dan Anggota Komite Audit PT         •   Independent Consultant and Member of Audit Committee of
    Red Planet Indonesia Tbk (sejak 2020).                         PT Red Planet Indonesia Tbk (since 2020).
•   Independent Consultant dan Anggota Komite Audit PT         •   Independent Consultant and Member of Audit Committee of
    Cisadane Sawit Raya Tbk (sejak 2022).                          PT Cisadane Sawit Raya Tbk (since 2022).
Hubungan Afiliasi                                              Affiliation Relationship
Tidak memiliki hubungan kekeluargaan ataupun hubungan          Has no family relationship or financial relationship with
keuangan dengan anggota Dewan Komisaris, anggota Direksi,      members of the Board of Commissioners, members
Pemegang Saham Utama dan Pengendali, serta anggota             of the Board of Directors, the Major and Controlling
komite lainnya.                                                Shareholders, or other committee members.




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                  Management Discussion and Analysis                Corporate governance               Sustainability Report




                                                                Saka Marlinang
                                                                Nainggolan
                                                                Anggota
                                                                Member


                                                                Warga Negara Indonesia, berdomisili di
                                                                Jakarta dan Usia 50 Tahun
                                                                Indonesian citizen, domiciled in Jakarta and 50 years old



Dasar Pengangkatan                                              Appointment Basis
Surat Keputusan Dewan Komisaris No.001/SK-Komisaris/            Board of Commissioners Decree No. 001/SK-Komisaris/CBRE/
CBRE/JKT/VI/2025                                                JKT/VI/2025

Riwayat Pendidikan                                              Educational Background
•   Sarjana Akuntansi, Sekolah Tinggi Ilmu Ekonomi Indonesia,   •    Bachelor of Accounting, Sekolah Tinggi Ilmu Ekonomi
    (1997).                                                          Indonesia, (1997).
•   Magister Hukum, Universitas Pelita Harapan (2023).          •    Master of Law, Pelita Harapan University (2023).
•   Saat ini sedang menempuh program Sarjana Hukum di           •    Currently pursuing a Bachelor of Laws program at the
    Universitas Kristen Indonesia.                                   Indonesian Christian University.
Sertifikasi                                                     Certification
•   Register Akuntan Negara, Kementerian Keuangan               •    State-Registered Accountant, Ministry of Finance of the
    Republik Indonesia (2017).                                       Republic of Indonesia (2017).
•   Sertifikat Pajak B, Ikatan Konsultan Pajak Indonesia        •    Tax Certificate B, Indonesian Tax Consultants Association
    (2014).                                                          (2014).
Riwayat Pekerjaan                                               Employment History
•   Auditor KAP Hendrawinata Gani & Rekan (1997-2001).          •    Auditor of KAP Hendrawinata Gani & Rekan (1997-2001).
•   Senior Vice President-Accounting & Tax PT Elang             •    Senior Vice President-Accounting & Tax of PT Elang
    Mahkota Teknologi Tbk (2001-2021).                               Mahkota Teknologi Tbk (2001-2021).
Rangkap Jabatan                                                 Concurrent Positions
Tidak memiliki rangkap jabatan.                                 Does not hold concurrent positions.
Hubungan Afiliasi                                               Affiliation Relationship
Tidak memiliki hubungan kekeluargaan ataupun hubungan           Has no family relationship or financial relationship with
keuangan dengan anggota Dewan Komisaris, anggota Direksi,       members of the Board of Commissioners, members of the
Pemegang Saham Utama dan Pengendali, serta anggota              Board of Directors, the Major and Controlling Shareholders,
komite lainnya.                                                 or other committee members.




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       Ikhtisar Perseroan            Laporan Manajemen              Profil Perusahaan
       Company Summary               Management Report              Company Profile




Profil Sekretaris Perusahaan
Corporate Secretary Profile




                                                          Amanda Octania
                                                          Sekretaris Perusahaan
                                                          Corporate Secretary

                                                          Warga Negara Indonesia, berdomisili di
                                                          Jakarta dan Usia 34 Tahun
                                                          Indonesian citizen, domiciled in Jakarta and 34 years old



Dasar Pengangkatan                                        Appointment Basis
Surat Keputusan Direksi Perseroan No.0003/SKDD/CBRE/      Company Board of Directors Decree No. 0003/SKDD/CBRE/
IX/2022 tanggal 16 September 2022.                        IX/2022 dated September 16, 2022.

Profil Sekretaris Perusahaan telah diungkapkan pada bab   The profile of the Corporate Secretary has been disclosed in
profil Direksi.                                           the Board of Directors profile chapter.




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Profil Unit Audit Internal
Profil of Internal Audit Unit




                                                           Oktaviana Magdalena
                                                           Kepala Unit Audit Internal
                                                           Chairperson of Internal Audit Unit

                                                           Warga Negara Indonesia, berdomisili di
                                                           Jakarta dan Usia 26 Tahun
                                                           Indonesian citizen, domiciled in Jakarta and 26 years old



Dasar Pengangkatan                                         Appointment Basis
Surat Keputusan Direksi Perseroan No. 0006/SKDD/CBRE/      Company’s Board of Commissioners Decision Letter No.
IX/2022 tanggal 16 September 2022.                         0006/SKDK/ CBRE/IX/2022 dated September 16, 2022.

Riwayat Pendidikan                                         Educational Background
Sarjana Akuntansi, Universitas Sahid Jakarta (2020).       Bachelor of Accounting, Sahid Jakarta University (2020).
Riwayat Pekerjaan                                          Employment History
•   Finance and Accounting PT Omudas Delapan Raya (1       •    Finance and Accounting PT Omudas Delapan Raya
    Oktober 2019).                                              (October 1, 2019).
•   Finance, Accounting, and Tax Officer Perseroan (2      •    Finance, Accounting, and Tax Officer Company (December
    Desember 2021).                                             2, 2021).
Rangkap Jabatan                                            Concurrent Positions
Tidak memiliki rangkap jabatan.                            Does not hold concurrent positions.
Hubungan Afiliasi                                          Affiliation Relationship
Tidak memiliki hubungan afiliasi dengan Dewan Komisaris,   Has no affiliation with members of the Board of Commissioners,
anggota Direksi, dan Pemegang Saham Utama ataupun          members of the Board of Directors, and Major or Controlling
Pengendali.                                                Shareholders.




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        Company Summary                    Management Report                Company Profile




Informasi Pemegang Saham [POJK51-C.3]                             Shareholder Information [POJK51-C.3]


                                 Kepemilikan Saham 1 Januari 2025               Kepemilikan Saham 31 Desember 2025
                                Share Ownership as of 1 January 2025            Share Ownership as of 31 December 2025

                                                               Persentase                                         Persentase
       Uraian            Jumlah Saham                                       Jumlah Saham
                                                               Kepemilkan                                         Kepemilkan
     Description            (Lembar        Jumlah Nominal                      (Lembar          Jumlah Nominal
                                                                 Shares                                             Shares
                             Saham)         Total Nominal                       Saham)           Total Nominal
                                                                Ownership                                          Ownership
                          Total Number           (Rp)                        Total Number             (Rp)
                                                               Percentage                                         Percentage
                            of Shares                                          of Shares
                                                                  (%)                                                (%)

Modal Dasar
                         8.000.000.000 200.000.000.000                      8.000.000.000 200.000.000.000
Authorized Capital

                                                       Kepemilikan >5%
                                                        Ownership >5%

PT Omudas
                         2.774.000.000       69.350.000.000      61,13      2.774.000.000        69.350.000.000     61,13
Investment Holdco

PT Republik Capital
                             513.000.000     12.825.000.000      11,30        513.000.000        12.825.000.000     11,30
Indonesia

Herlienna Qisthi             342.000.000      8.550.000.000       7,54                    -                   -       -

Andry Hakim                            -                  -        -          227.000.074         5.675.001.850      5,00

                                                       Kepemilikan <5%
                                                        Ownership <5%

Masyarakat
                             909.057.621     22.726.440.525      20,03      1.024.067.367        25.601.684.175     22,57
Public

Jumlah Modal
Ditempatkan dan
Disetor Penuh            4.538.057.621 113.451.440.525           100,00     4.538.067.441 113.451.686.025           100,00
Total Issued and Fully
Paid Capital

Saham dalam
Portepel                 3.461.942.379      86.548.559.475                  3.461.932.559       86.548.313.975
Shares in Portfolio




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                     Management Discussion and Analysis                       Corporate governance                  Sustainability Report




Komposisi Kepemilikan Saham Berdasarkan Status                              Share Ownership Composition Based on Ownership
Kepemilikan                                                                 Status


                                      Kepemilikan Saham 1 Januari 2025                      Kepemilikan Saham 31 Desember 2025
                                     Share Ownership as of 1 January 2025                   Share Ownership as of 31 December 2025


         Uraian                                                      Persentase                                               Persentase
                                Jumlah
       Description                                                   Kepemilkan           Jumlah                              Kepemilkan
                               Pemegang          Jumlah Nominal                                             Jumlah Nominal
                                                                       Shares         Pemegang Saham)                           Shares
                                Saham)            Total Nominal                                              Total Nominal
                                                                      Ownership          Number of                             Ownership
                               Number of               (Rp)                                                       (Rp)
                                                                     Percentage         Shareholders                          Percentage
                              Shareholders
                                                                        (%)                                                      (%)

                                                             Pemodal Nasional
                                                              National Investor
Individual
                                        8.362       1.071.577.052       23,61                    56.973       1.142.548.018     25,18
Individual
Institusi
                                             9      3.459.722.430       76,24                          30     3.360.422.823     74,05
Institusion
                                                               Pemodal Asing
                                                               Foreign Investor
Individual
                                          26             715.900         0,02                          35         2.109.100      0,05
Individual
Institusi
                                             3          6.050.100        0,13                          6        32.987.500       0,73
Institusion
Jumlah
                                        8.400       4.538.065.482      100,00                   57.044       4.538.067.411      100,00
Total




Komposisi Kepemilikan Saham Dewan                                           Composition of Share Ownership of the
Komisaris dan Direksi                                                       Board of Commissioners and Directors


Perseroan secara konsisten menerapkan prinsip                               The Company consistently applies the principle of
transparansi dalam pengungkapan kepemilikan saham                           transparency in the disclosure of share ownership by
oleh anggota Dewan Komisaris, Direksi, serta pihak-                         members of the Board of Commissioners, the Board
pihak yang memiliki saham dengan hak suara sebesar 5%                       of Directors, and parties holding shares with voting
atau lebih. Pengungkapan tersebut dilaksanakan sesuai                       rights of 5% or more. Such disclosures are made in
dengan ketentuan Peraturan Otoritas Jasa Keuangan                           accordance with Financial Services Authority Regulation
No. 4 Tahun 2025 tentang Laporan Kepemilikan atau                           No. 4 of 2025 on the Reporting of Ownership or
Perubahan Kepemilikan Saham Perusahaan Terbuka                              Changes in Ownership of Shares of Public Companies
dan Laporan Aktivitas Menjaminkan Saham Perusahaan                          and the Reporting of Pledged Share Activities of Public
Terbuka, yang mewajibkan penyampaian laporan                                Companies, which requires the submission of reports no
paling lambat 5 hari kerja sejak terjadinya perubahan                       later than five (5) business days from the occurrence of
kepemilikan saham.                                                          any change in share ownership.



Per Desember 2025, anggota Dewan Komisaris dan                              As of December 2025, members of the Company’s
Direksi Perseroan tidak memiliki kepemilikan saham                          Board of Commissioners and Board of Directors did
secara langsung pada Perseroan. Namun demikian,                             not hold any direct share ownership in the Company.
Bapak Suganto Gunawan dan Bapak Suminto Husin                               Nevertheless, Suganto Gunawan and Suminto Husin
Giman tercatat memiliki kepemilikan saham secara                            Giman were recorded as having indirect share ownership
tidak langsung melalui PT Omudas Investment Holdco                          through PT Omudas Investment Holdco, amounting to
masing-masing 51,00% dan 49,00%.                                            51.00% and 49.00%, respectively.




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       Company Summary             Management Report                Company Profile




Pemegang Saham Utama dan Pengendali
Major and Controlling Shareholders

         Suganto Gunawan                    Suminto Husin Giman                         Catur Dharma Anugera Surya


                                                                                                 67,00%
            51,00%                           49,00%



                                                                                        Beringin Nusantara Mineral


                                                                                                 99,96%




                                                                                         Delapan Nusantara Mineral


                                                                                                 99,96%




                                                                                           Omudas Lintas Energi

                                             PT Republik                                         99,00%
          MASYARAKAT
                                                Capital
             Public
                                              Indonesia

             22,57%                            11,30%
                                                                                           Omudas Cipta Selera


                                                                                                 90,00%




Pemegang Saham Pengendali dan Pemilik Manfaat              The Company’s Controlling Shareholder and Beneficial
Perseroan adalah Suganto Gunawan melalui                   Owner is Suganto Gunawan, through indirect ownership
kepemilikan tidak langsung di Perseroan melalui            in the Company via PT Omudas Investment Holdco.
PT Omudas Investment Holdco. Sehubungan dengan             In this regard, the Company has fulfilled its reporting
hal tersebut, Perseroan telah memenuhi kewajiban           obligations in accordance with Presidential Regulation
pelaporan berdasarkan Peraturan Presiden No. 13 Tahun      No. 13 of 2018 concerning the Implementation of
2018 tentang Penerapan Prinsip Mengenali Pemilik           the Principle of Recognizing Beneficial Ownership
Manfaat dari Korporasi dalam rangka Pencegahan dan         of Corporations in the context of the Prevention
Pemberantasan Tindak Pidana Pencucian Uang dan             and Eradication of Money Laundering and Terrorism
Tindak Pidana Pendanaan Terorisme, sebagaimana             Financing, as evidenced by the submission of beneficial
dibuktikan dengan bukti penyampaian data pemilik           ownership data dated February 10, 2026.
manfaat tertanggal 10 Februari 2026.




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                  Management Discussion and Analysis                Corporate governance              Sustainability Report




Kebijakan Perlakuan Adil terhadap                                 Fair  Treatment         Policy                  towards
Pemegang Saham [IDX-G.08]                                         Shareholders [IDX-G.08]

Perseroan memastikan bahwa seluruh Pemegang                       The Company ensures that all shareholders, both
Saham,     baik    mayoritas    maupun      minoritas,            majority and minority, are provided with equal access
memperoleh akses informasi yang setara melalui                    to information through the implementation of
penerapan keterbukaan informasi yang transparan                   transparent and accountable information disclosure, in
dan akuntabel guna mencegah terjadinya asimetri                   order to prevent information asymmetry and potential
informasi dan potensi penyalahgunaan informasi orang              misuse of insider information. In its implementation,
dalam. Dalam pelaksanaannya, Sekretaris Perusahaan                the Corporate Secretary plays a key role in managing
berperan penting dalam mengelola keterbukaan                      information disclosure in a professional, accurate, and
informasi secara profesional, akurat, dan tepat waktu,            timely manner, and in ensuring that the Company’s
serta memastikan bahwa penyampaian informasi                      disclosures are consistently in compliance with
Perseroan senantiasa sesuai dengan ketentuan                      applicable laws and regulations.
peraturan perundang-undangan yang berlaku.


Hubungan    Kepengurusan    dan                                   Company’s       Management                         and
Pengawasan   Perseroan   dengan                                   Supervision     Relationship                       with
Pemegang Saham Berbentuk Badan                                    Shareholders of Legal Entities
Hukum


                                                                       Jabatan
                                                                       Position
           Nama
           Name
                                           Perseroan
                                                             PT Omudas Investment Holdco     PT Republik Capital Indonesia
                                           Company

                                    Komisaris Utama           Komisaris/Pemegang Saham                Komisaris
Suganto Gunawan
                                 President Commissioner       Commissioner/Shareholder              Commissioner

                                           Komisaris
Suwito                                                                    -
                                         Commissioner

                                   Komisaris Independen                                                Direktur
HR Agung Laksono                                                          -
                                Independent Commissioner                                               Director

                                         Direktur Utama        Direktur/Pemegang Saham
Sumito Husin Giman                                                                                         -
                                        President Director        Director/Shareholder

                                            Direktur                   Direktur
Amanda Octania                                                                                             -
                                            Director                   Director




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          Company Summary                    Management Report                  Company Profile




Pemegang Saham Perseroan                                               Company Shareholders of Legal
Berbentuk Badan Hukum                                                  Entities

                                                PT Omudas Investment Holdco (OIH)

Bidang Usaha            Perdagangan besar atas balas jasa (fee)/kontrak, aktivitas perusahaan holding dan konsultasi manajemen
Business Fields         lainnya./Large trade for fees/contracts, holding company activities and other management consultancies.

                        Sona Topas Tower Lt. 5A
Alamat
                        Jl. Jenderal Sudirman Kav.26
Address
                        Jakarta Selatan 12920

                        Berdasarkan Akta Pendirian Perseroan Terbatas PT Omudas Delapan Raya Nomor: 26 tanggal 24 November
                        2015, yang dibuat di hadapan Citra Buana Tungga, S.H., M.Kn., Notaris di Kabupaten Tangerang, mendapat
                        pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia sesuai dengan Surat Keputusan
                        Nomor: AHU-2468542.AH.01.01.TAHUN 2015 tanggal 25 November 2015 dan telah didaftarkan dalam
Dasar Hukum
                        Daftar Perseroan Nomor: AHU- 3584516.AH.01.11.TAHUN 2015 tanggal 25 November 2015.
Pendirian
Legal Basis for
                        Based on the Deed of Establishment of the Limited Liability Company PT Omudas Delapan Raya Number:
Establishment
                        26 dated November 24, 2015, made before Citra Buana Tungga, S.H., M.Kn., Notary in Tangerang Regency,
                        received approval from the Minister of Law and Human Rights of the Republic of Indonesia in accordance
                        with Decree Number: AHU-2468542.AH.01.01.YEAR 2015 dated November 25, 2015 and has been registered
                        in the Company Register Number: AHU-3584516.AH.01.11.YEAR 2015 dated November 25, 2015.

Persentase              Suganto Gunawan     : 51,00%
Kepemilikan             Suminto Husin Giman : 49,00%
Ownership
Percentage

Status Operasional      Beroperasi.
Operational Status      Operate.

                        Komisaris		            : Suganto Gunawan
                        Direktur Utama         : Suminto Husin Giman
Pengurus                Direktur 		            : Amanda Octania
Manager                 Commissioner           : Suganto Gunawan
                        President Director     : Suminto Husin Giman
                        Director		             : Amanda Octania



                                                 PT Republik Capital Indonesia (RCI)

                        Perdagangan besar atas balas jasa (fee)/kontrak, aktivitas perusahaan holding dan konsultasi manajemen
Bidang Usaha
                        lainnya./Wholesale trade on the basis of fees or contracts, wholesale trade in various kinds of goods, other
Business Fields
                        management consulting activities.

                        Sona Topas Tower Lt. 5A
Alamat
                        Jl. Jenderal Sudirman Kav.26
Address
                        Jakarta Selatan 12920

                        Berdasarkan Akta Pendirian Perseroan Terbatas PT Republik Capital Indonesia Nomor: 23 tanggal 21
                        Desember 2010, yang dibuat di hadapan Elsye Tri Handayani, S.H., M.Kn., Notaris di Kabupaten Bekasi, akta
                        mana telah mendapat pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia sesuai
Dasar Hukum
                        dengan Surat Keputusan Nomor: AHU-05624.AH.01.01.TAHUN 2011 tanggal 02 Februari 2011.
Pendirian
Legal Basis for
                        Based on the Deed of Establishment of the Limited Liability Company PT Republik Capital Indonesia Number:
Establishment
                        23 dated December 21, 2010, made before Elsye Tri Handayani, S.H., M.Kn., Notary in Bekasi Regency, which
                        deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia in accordance
                        with Decree Number: AHU-05624.AH.01.01.TAHUN 2011 dated February 2, 2011.




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                                                  PT Republik Capital Indonesia (RCI)

Persentase               Suwito		           : 99,99%
Kepemilikan              PT Republik Hotels : 0,10%
Ownership
Percentage

Status Operasional       Beroperasi.
Operational Status       Operate.

                         Komisaris		            : Suganto Gunawan
Pengurus                 Direktur Utama         : Suwito
Manager                  Commissioner           : Suganto Gunawan
                         President Director     : Suwito




Kronologi Pencatatan Saham                                             Share Listing Chronology


                                                                                                        Jumlah Saham Beredar
                                              Tanggal Efektif
                                                                    Nilai Nominal    Harga Penawaran       (Lembar Saham)
                Uraian                          Pencatatan
                                                                    Nominal Value      Offering Price     Number of shares
              Description                      Effective date
                                                                         (Rp)               (Rp)             outstanding
                                                 Recording
                                                                                                               (Shares)
Penawaran Umum Saham Perdana /
                                              9 January 2023             25                108                      738.000.000
Initial Public Offering Of Shares



Berdasarkan Laporan Kepemilikan Saham yang                             Based on the Share Ownership Report submitted to the
disampaikan kepada Otoritas Jasa Keuangan, pada                        Financial Services Authority, in 2025, a share acquisition
tahun 2025, terdapat transaksi pembelian saham untuk                   transaction for investment purposes was conducted by
tujuan investasi oleh Andry Hakim, dengan membeli                      Andry Hakim, involving the purchase of shares from
saham Bes Trust Pte Ltd, di mana transaksi dilakukan                   Bes Trust Pte Ltd. The transactions were carried out
pada 10 Oktober 2025 dan pada 1 Desember 2025,                         on 10 October 2025 and 1 December 2025. As a result,
sehingga Andry Hakim memiliki total kepemilikan saham                  Andry Hakim held a total of 5% direct ownership in the
Perseroan sebanyak 5% yang merupakan kepemilikan                       Company.
langsung.


Kronologi Pencatatan Efek Lainnya                                      Chronology of Other Securities Listing
Sepanjang tahun 2025, Perseroan tidak menerbitkan                      Throughout 2025, the Company did not issue any bonds,
obligasi, sukuk, maupun obligasi konversi.                             sukuk, or convertible bonds.


Entitas Anak dan Entitas Asosiasi                                      Subsidiaries and Associated Entities
Per 31 Desember 2025, Perseroan tidak memiliki Entitas                 As of December 31, 2025, the Company did not have any
Anak dan Entitas Asosiasi.                                             Subsidiaries or Associated Entities.




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          Company Summary                    Management Report                  Company Profile




Lembaga Penunjang Pasar Modal                                       Capital Market Supporting Institution


                                                       Kantor Akuntan Publik
                                                       Public Accounting Firm

Nama                    Kanaka Puradiredja, Suhartono
Name

Nama Akuntan            Aris Suryatna, CPA
Publik (AP)
Public Accountant
Name

                        Jl. Prof Dr. Soepomo No. 178A-C29
                        Jakarta 12810
                        Indonesia
Alamat
                        Telp / Phone         : (021) 8313 861
Address
                        Fax                  : (021) 8313 861
                        Email                : central.mail@kanaka.co.id
                        Situs Web / Website : www.kanaka.co.id

Jasa yang Diberikan     Melakukan Audit Laporan Keuangan Perseroan.
Service Provided        Conducting an Audit of the Company's Financial Statements.

Periode                 2025
Period

Biaya                   Rp150.000.000,-
Fee




                                                              Notaris
                                                              Notary

Nama                    Yulia, SH
Name

                        Multivision Tower
                         Lt. 3 Suite 05,
Alamat
                        Jl. Kuningan Mulia No. Kav.9B, RT.6/RW.1,
Address
                        Menteng Atas, Kec. Setiabudi
                        Jakarta Selatan / South Jakarta 15412

Jasa yang Diberikan     Pembuatan akta-akta Perseroan.
Service Provided        Preparation of the Company’s deeds.

Periode                 2025
Period

Biaya                   Rp32.500.000,-
Fee




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                  Management Discussion and Analysis                      Corporate governance                  Sustainability Report




                                                       Biro Administrasi Umum
                                                     Shares Administration Bureau

Nama                     PT Adimitra Jasa Korpora
Name

                         Kirana Boutique Office
                         Jl. Kiara Avenue III Blok F3 No.5
Alamat                   Kelapa Gading
Address                  Jakarta Utara/ North Jakarta 14250
                         Telp/ Phone            : (021) 2936 5287 / 2936 5298
                         Situs Web/ Website : www.adimitrajk.co.id

                         Melakukan administrasi pemesanan saham sesuai dengan ketentuan khususnya sehubungan dengan
Jasa yang Diberikan      penerapan Peraturan Otoritas Jasa Keuangan No. 41 tahun 2022.
Service Provided         Administer share subscriptions in line with provisions, specifically related to the implementation of Financial
                         Services Authority Regulation No. 41 of 2020.

Periode                  2025
Period

Biaya                    Rp60.000.000,-
Fee




Akses Informasi                                                        Information Access
Pemegang Saham dan pemangku kepentingan lainnya                        Shareholders and other stakeholders may obtain and
dapat memperoleh dan mengakses informasi melalui:                      access information through the following channels:


Amanda Octania                                                         Amanda Octania
Sekretaris Perusahaan                                                  Corporate Secretary
Sahid Sudirman Center lt. 42 Unit B                                    Sahid Sudirman Center, 42nd floor, Unit B
Jl. Jenderal Sudirman Kav. 86                                          Jl. Jenderal Sudirman Kav. 86
Jakarta Selatan 10220                                                  South Jakarta 10220
Telp : (021) 2585 8070                                                 Phone: (021) 2585 8070
Situs Web: www.cbre.co.id                                              Website: www.cbre.co.id
Email : corporate.secretary@cbre.co.id                                 Email: corporate.secretary@cbre.co.id




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        Company Summary                  Management Report                     Company Profile




Informasi pada Situs Web                                            Information on the Website
Untuk memenuhi kebutuhan pemangku kepentingan                       To meet stakeholders’ needs for comprehensive,
atas informasi yang lengkap, akurat, dan mudah diakses,             accurate, and easily accessible information, the
Perseroan menyediakan keterbukaan informasi melalui                 Company provides information disclosure through
situs web resmi Perseroan, yaitu www.cbre.co.id, yang               its official website, www.cbre.co.id, which is regularly
diperbarui secara berkala sesuai dengan ketentuan                   updated in accordance with Financial Services Authority
Peraturan Otoritas Jasa Keuangan No. 8/POJK.04/2015.                Regulation No. 8/POJK.04/2015. Through this website,
Melalui situs web tersebut, Perseroan menyampaikan                  the Company disseminates relevant and up-to-date
berbagai informasi yang relevan dan terkini sebagai                 information as a manifestation of its commitment to the
wujud komitmen terhadap prinsip transparansi                        principles of transparency and the implementation of
dan penerapan tata kelola perusahaan yang baik,                     good corporate governance, as outlined below.
sebagaimana diuraikan berikut ini.




                        Uraian                             Ketersediaan                            Keterangan
                      Description                           Availability                            Remarks

Informasi Pemegang Saham sampai dengan
Pemilik Akhir Individu                                       Tersedia
                                                                           https://www.cbre.co.id/files/20230310064353.pdf
Shareholder Information up to the Ultimate Individual        Available
Owner

Struktur Grup Perusahaan                                     Tersedia
                                                                           https://www.cbre.co.id/about/profile
Company Group Structure                                      Available

Analisa Kinerja Keuangan                                     Tersedia
                                                                           https://www.cbre.co.id/investors
Financial Performance Analysis                               Available

Isi Kode Etik                                                Tersedia
                                                                           https://www.cbre.co.id/files/20230308090440.pdf
Content Code of Conducts                                     Available

Rapat Umum Pemegang Saham                                    Tersedia
                                                                           https://cbre.co.id/files/20230703042514.pdf
General Meeting of Shareholders                              Available

Laporan Keuangan Tahunan (5 tahun terakhir)                  Tersedia
                                                                           https://www.cbre.co.id/investors
Annual Financial Statements (Last 5 years)                   Available

Profil Dewan Komisaris dan Direksi                           Tersedia
                                                                           https://www.cbre.co.id/about/profile
Profile of Board of Commissioners and Board of Directors     Available

Piagam Dewan Komisaris                                       Tersedia
                                                                           https://cbre.co.id/files/20240112082430.pdf
Board of Commissioners Charter                               Available

Piagam Direksi                                               Tersedia
                                                                           https://cbre.co.id/files/20240112082430.pdf
Board of Directors Charter                                   Available

Piagam Komite Audit                                          Tersedia
                                                                           https://www.cbre.co.id/files/20221212103659.pdf
Audit Committee Charter                                      Available

Piagam Unit Audit Internal                                   Tersedia
                                                                           https://www.cbre.co.id/files/20221212030912.pdf
Internal Audit Unit Charter                                  Available

Piagam Sekretaris Perusahaan                                 Tersedia
                                                                           https://cbre.co.id/files/20240112082250.pdf
Corporate Secertary Charter                                  Available




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                  Management Discussion and Analysis                Corporate governance             Sustainability Report




  Surat Pernyataan Anggota Dewan Komisaris dan Direksi tentang Tanggung Jawab
              atas Laporan Tahunan dan Laporan Keberlanjutan 2025
                   PT Cakra Buana Resources Energi Tbk [POJK51-G.2]
  Statement of The Board of Commissioners and the Board of Directors Regarding the Responsibility for
       the 2025 Annual and Sustainability Report of PT Cakra Buana Resources Energi Tbk [POJK51-G.2]

Kami yang bertanda tangan di bawah ini menyatakan                 We, the undersigned, declare that all information in
bahwa semua informasi dalam Laporan Tahunan dan                   the 2025 Annual and Sustainability Report of PT Cakra
Laporan Keberlanjutan PT Cakra Buana Resources                    Buana Resources Energi Tbk has been presented in its
Energi Tbk tahun 2025 telah dimuat secara lengkap dan             entirety and we are fully responsible for the accuracy of
bertanggungjawab penuh atas kebenaran isi Laporan                 the contents of the Company’s Annual and Sustainability
Tahunan dan Laporan Keberlanjutan Perseroan.                      Report.

Demikian pernyataan ini dibuat dengan sebenarnya.                 This statement was made with actual.

                                                   Jakarta, 29 April 2026

                                                     Dewan Komisaris
                                                  Board of Commissioners




                                                     Suganto Gunawan
                                                      Komisaris Utama
                                                  President Commissioner




                           Suwito                                                   H.R. Agung Laksono
                          Komisaris                                                Komisaris Independen
                        Commissioners                                           Independent Commissioners

                                                            Direksi
                                                       Board of Directors




                    Suminto Husin Giman                                               Amanda Octania
                       Direktur Utama                                                    Direktur
                      President Director                                                 Director




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        Analisa dan
        Pembahasan
        Manajemen
        Management
        Discussion and
        Analysis




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        Company Summary               Management Report              Company Profile




Tinjauan Ekonomi dan Industri
Economic and Industry Review




Tinjauan Ekonomi                                            Economic Industry
Pada tahun 2025, kondisi perekonomian global masih          In 2025, the global economy continued to be
diwarnai oleh ketidakpastian akibat dinamika geopolitik,    characterized by uncertainty driven by geopolitical
fluktuasi harga energi, serta tekanan inflasi di berbagai   dynamics, energy price fluctuations, and inflationary
negara. Meskipun demikian, perekonomian nasional            pressures across various countries. Nevertheless,
Indonesia menunjukkan ketahanan yang relatif baik,          Indonesia’s national economy demonstrated relatively
didukung oleh konsumsi domestik yang stabil serta           strong resilience, supported by stable domestic
aktivitas sektor industri dan infrastruktur yang tetap      consumption and ongoing activity in the industrial and
berjalan.                                                   infrastructure sectors.




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                  Management Discussion and Analysis          Corporate governance               Sustainability Report




Industri Pelayaran – Angkutan Curah (Bulk Carrier)          Shipping Industry – Domestic Bulk Carrier Segment
Domestik


Di tingkat domestik, industri pelayaran khususnya pada      At the domestic level, the shipping industry particularly
segmen angkutan muatan curah (bulk carrier) tetap           in the bulk carrier segment continues to demonstrate
menunjukkan prospek yang positif. Hal ini didorong          positive prospects. This is driven by strong demand
oleh tingginya permintaan terhadap komoditas utama          for key commodities such as coal, nickel, construction
seperti batu bara, nikel, material konstruksi, serta        materials, and other industrial products. Government
produk industri lainnya. Kebijakan hilirisasi sumber daya   policies on natural resource downstreaming, along with
alam dan pembangunan infrastruktur nasional turut           ongoing national infrastructure development, have
meningkatkan kebutuhan jasa transportasi laut untuk         further increased the need for maritime transportation
distribusi logistik antar wilayah di Indonesia.             services to support interregional logistics distribution
                                                            across Indonesia.


Selain itu, karakteristik geografis Indonesia sebagai       In addition, Indonesia’s geographical characteristics
negara kepulauan menjadikan transportasi laut               as an archipelagic country position maritime
sebagai tulang punggung distribusi barang, sehingga         transportation as the backbone of goods distribution,
permintaan terhadap armada tugboat dan barge tetap          thereby sustaining demand for tugboat and barge fleets.
terjaga. Namun demikian, industri ini juga menghadapi       However, the industry also faces challenges, including
tantangan berupa fluktuasi harga bahan bakar, tekanan       fuel price volatility, pressure on freight rates, and
tarif angkutan, serta persaingan yang semakin ketat di      intensifying competition among industry players.
antara pelaku usaha.


Industri Offshore Support Vessel (OSV) –                    Offshore Support Vessel (OSV) Industry – Domestic
Domestik dan Internasional                                  and International


Seiring dengan meningkatnya aktivitas eksplorasi dan        In line with the increasing exploration and production
produksi minyak dan gas bumi, baik di dalam negeri          activities in the oil and gas sector, both domestically
maupun di pasar global, permintaan terhadap jasa            and globally, demand for offshore support vessel (OSV)
offshore support vessel (OSV) menunjukkan tren              services has shown an upward trend. The rise in global
yang meningkat. Kenaikan harga energi global dalam          energy prices in recent years has also encouraged
beberapa tahun terakhir turut mendorong kembali             renewed investment in the upstream oil and gas sector,
investasi di sektor hulu migas, termasuk proyek-proyek      including offshore projects.
lepas pantai (offshore).


Di pasar domestik, pemerintah Indonesia terus               In the domestic market, the Indonesian government
mendorong peningkatan produksi migas nasional guna          continues to encourage increased national oil and gas
menjaga ketahanan energi, yang berdampak pada               production to maintain energy security, which in turn
meningkatnya kebutuhan terhadap layanan pendukung           drives higher demand for supporting services such as
seperti instalasi pipa, lifting, serta dukungan logistik    pipeline installation, lifting operations, and offshore
offshore. Sementara itu, di pasar internasional, peluang    logistics support. Meanwhile, in the international
bagi penyedia jasa OSV semakin terbuka, terutama di         market, opportunities for OSV service providers continue
kawasan Asia Tenggara, Timur Tengah, dan Afrika, yang       to expand, particularly in regions such as Southeast
masih aktif dalam pengembangan proyek energi lepas          Asia, the Middle East, and Africa, which remain active in
pantai.                                                     offshore energy project development.


Namun demikian, industri OSV juga memiliki karakteristik    However, the OSV industry is also cyclical in nature, being
siklikal yang dipengaruhi oleh harga minyak dunia, serta    influenced by global oil prices, and requires significant
membutuhkan investasi yang signifikan dan standar           investment as well as high operational standards,
operasional yang tinggi, termasuk aspek keselamatan         including safety and compliance with international
dan kepatuhan terhadap regulasi internasional.              regulations.




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Tinjauan Industri                                            Industry Review
Industri pelayaran nasional memiliki peran strategis         The national shipping industry plays a strategic
dalam mendukung distribusi logistik di Indonesia sebagai     role in supporting logistics distribution in Indonesia
negara kepulauan. Kebutuhan terhadap jasa angkutan           as an archipelagic country. Demand for maritime
laut, khususnya untuk pengangkutan muatan curah              transportation services, particularly for bulk cargo,
(bulk cargo), masih menunjukkan tren yang stabil seiring     continues to show a stable trend in line with the ongoing
dengan aktivitas sektor pertambangan, konstruksi, dan        growth of the mining, construction, and industrial
industri yang terus berkembang. Permintaan terhadap          sectors. Demand for commodities such as coal, minerals,
komoditas seperti batu bara, mineral, serta material         and construction materials remains a key driver of fleet
konstruksi menjadi pendorong utama utilisasi armada          utilization for tugboats and barges in the domestic
kapal tugboat dan barge di pasar domestik.                   market.


Selain didukung oleh faktor permintaan, industri ini         In addition to demand-side drivers, the industry is also
juga dipengaruhi oleh kebijakan pemerintah, termasuk         influenced by government policies, including natural
program hilirisasi sumber daya alam dan pembangunan          resource downstreaming programs and national
infrastruktur nasional, yang meningkatkan kebutuhan          infrastructure development, which increase the need
distribusi antar wilayah. Di sisi lain, industri pelayaran   for interregional distribution. On the other hand, the
menghadapi tantangan berupa fluktuasi harga bahan            shipping industry faces challenges such as fuel price
bakar, tekanan terhadap tarif angkutan, serta persaingan     volatility, pressure on freight rates, and increasingly
usaha yang semakin kompetitif.                               intense competition.


Sejalan dengan perkembangan sektor energi, industri          In line with developments in the energy sector, the
jasa pendukung kegiatan lepas pantai (offshore support       offshore support vessel (OSV) industry demonstrates
vessel / OSV) menunjukkan prospek pertumbuhan yang           positive growth prospects. The increase in oil and gas
positif. Peningkatan aktivitas eksplorasi dan produksi       exploration and production activities, both domestically
minyak dan gas bumi, baik di dalam negeri maupun di          and globally, has driven demand for supporting services
pasar global, mendorong kebutuhan terhadap layanan           such as pipeline installation, lifting operations, and
pendukung seperti instalasi pipa, pengangkatan (lifting),    offshore logistics support.
serta dukungan logistik offshore.


Di pasar domestik, upaya pemerintah dalam menjaga            In the domestic market, the government’s efforts to
ketahanan energi nasional melalui peningkatan produksi       maintain national energy security through increased oil
migas memberikan peluang bagi pelaku usaha di sektor         and gas production create opportunities for businesses
jasa offshore. Sementara itu, di tingkat internasional,      in the offshore services sector. Meanwhile, at the
permintaan terhadap layanan OSV juga dipengaruhi oleh        international level, demand for OSV services is also
tren harga minyak dunia serta investasi pada proyek-         influenced by global oil price trends and investments in
proyek energi lepas pantai di berbagai wilayah.              offshore energy projects across various regions.


Meskipun memiliki prospek yang menjanjikan, industri         Despite its promising outlook, the OSV industry is
OSV juga memiliki karakteristik yang lebih kompleks          inherently more complex and cyclical in nature, requiring
dan bersifat siklikal, dengan kebutuhan investasi yang       relatively significant investment and adherence to high
relatif besar serta tuntutan standar keselamatan dan         standards of safety and regulatory compliance.
kepatuhan yang tinggi.


Dengan mempertimbangkan kondisi tersebut, pelaku             Taking these conditions into account, companies in the
usaha di industri pelayaran dituntut untuk meningkatkan      shipping industry are required to enhance operational
efisiensi operasional, memperkuat daya saing, serta          efficiency, strengthen competitiveness, and diversify
melakukan diversifikasi layanan guna menjaga                 their services in order to sustain business continuity
keberlanjutan usaha di tengah dinamika industri yang         amid evolving industry dynamics.
terus berkembang.




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                    Management Discussion and Analysis                   Corporate governance                                Sustainability Report




Tinjauan Operasional                                                   Operational Review
Perseroan menjalankan usaha transportasi laut                          The     Company       conducts     domestic     maritime
domestik untuk pengangkutan kargo umum melalui                         transportation services for the carriage of general cargo
pengoperasian kapal tunda dan 4 unit kapal tongkang.                   through the operation of tugboats and 4 barges. The
Layanan Perseroan meliputi pengangkutan kargo                          Company’s services include the transportation of bulk
curah seperti hasil tambang, material konstruksi, alat                 cargo such as mining products, construction materials,
berat, produk pertanian, serta barang industri lainnya,                heavy equipment, agricultural products, as well as other
serta jasa sewa kapal berdasarkan perjalanan maupun                    industrial goods. In addition, the Company provides
waktu dan pengelolaan kapal. Uraian kinerja Perseroan                  vessel charter services on both voyage and time
berdasarkan masing-masing layanan diungkapkan                          charter bases, as well as ship management services. A
sebagai berikut.                                                       description of the Company’s performance based on
                                                                       each line of service is presented as follows.


                                                                                       (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                 2025                                                              2024

        Uraian                                Pengelolaan                                                    Pengelolaan
      Description          Sewa Menurut                                            Sewa Menurut
                                                 Kapal             Jumlah                                       Kapal                          Jumlah
                               Waktu                                                   Waktu
                                                  Ship              Total                                        Ship                           Total
                            Rent By Time                                            Rent By Time
                                              Management                                                     Management

Aset Segmen
                          2.005.243.923.381                 - 2.005.243.923.381    298.883.596.583            34.769.250.589              333.652.847.172
Segment Assets

Liabilitas Segmen
                          1.958.334.418.627                 - 1.958.334.418.627    205.335.928.960            11.196.423.270              216.532.352.230
Segment Liabilities

Pendapatan
                            53.296.574.216     1.866.634.143     55.163.208.359     54.044.535.226              8.129.060.820               62.173.596.046
Revenue

Beban Pokok
Pendapatan                 (51.831.443.469)   (1.815.320.093)   (53.646.763.562)   (48.782.901.078)           (7.337.636.787)            (56.120.537.866)
Cost of Revenue

Laba Bruto
                             1.465.130.747        51.314.050      1.516.444.797      5.261.634.148                 791.424.032               6.053.058.180
Gross Profit

Beban Umum dan
Administrasi
                           (31.790.879.159)                 -   (31.790.879.159)   (32.576.623.273)                                 -    (32.576.623.273)
General and
Administrative Expenses

Penghasilan Beban
Lain-Lain – Neto
                           (20.143.445.664)                 -   (20.143.445.664)    (9.726.188.741)                                 -      (9.726.188.741)
Other Income
(Expenses) – Net

Rugi Usaha
                           (50.469.194.075)       51.314.050    (50.417.880.025)   (37.041.177.867)                791.424.032           (36.249.753.834)
Operating Loss

Biaya Keuangan
                           (19.275.106.074)                 -   (19.275.106.074)   (14.665.557.902)                                 -    (14.665.557.902)
Financial Cost

Rugi Usaha Sebelum
Pajak per Segmen
                           (69.744.300.150)       51.314.050    (69.692.986.100)   (51.706.735.769)                791.424.032           (50.915.311.736)
Segment Operating
Loss Before Tax




Pendapatan Perseroan menurun sebesar 11,28% atau                       The Company’s revenue decreased by 11.28%, or
setara Rp7,01 miliar, dari Rp62,17 miliar di tahun                     equivalent to Rp7.01 billion, from Rp62.17 billion
2024 menjadi Rp62,17 miliar di tahun 2025. Kondisi                     in 2024 to Rp55.16 billion in 2025. This decline was
ini disebabkan oleh menurunnya sewa kapal dan ship                     primarily attributable to lower vessel chartering and
management.                                                            ship management revenues.




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Aspek Pemasaran                                           Marketing Aspect
Perseroan menjalankan strategi pemasaran melalui          The Company implements its marketing strategy
pendekatan langsung dengan model Business to              through a direct business-to-business (B2B) approach,
Business (B2B) serta pendekatan tidak langsung melalui    as well as an indirect approach through collaboration
kerja sama dengan pihak ketiga dan mitra strategis.       with third parties and strategic partners. This strategy
Strategi tersebut dilengkapi dengan penerapan rencana     is supported by the implementation of short-, medium-,
bisnis jangka pendek, menengah, dan panjang untuk         and long-term business plans aimed at ensuring business
mendukung keberlanjutan usaha, yang diuraikan             sustainability, as outlined below.
sebagai berikut.
1. Memberi pelayanan terbaik dan tepat waktu              1. Providing the Best and Timely Service at
   dengan harga yang kompetitif                              Competitive Prices
   Perseroan berkomitmen untuk memberikan layanan            The Company is committed to delivering high-
   terbaik dan bernilai tambah kepada seluruh                quality and value-added services to all customers
   pelanggan dengan harga yang kompetitif dan                at competitive prices and in accordance with
   sesuai dengan kesepakatan kontrak. Komitmen               contractual agreements. This commitment is
   tersebut diwujudkan melalui ketepatan waktu               demonstrated through timely arrivals at ports and/or
   dalam kedatangan di pelabuhan dan/atau mother             mother vessels, thereby ensuring that all operational
   vessel, sehingga setiap proses operasional berjalan       processes are conducted efficiently, reliably, and in
   efektif, andal, dan memenuhi standar layanan yang         line with the expected service standards.
   diharapkan.
2. Menggunakan kapal milik pihak lain dalam bentuk        2. Utilizing Third-Party Ships through Leasing (Ship
   sewa (ship management)                                    Management)
   Perseroan mengoperasikan sejumlah armada kapal            The Company operates a fleet of vessels to
   untuk mendukung penyediaan layanan kepada                 support the delivery of services to its customers. In
   pelanggan. Dalam menjaga kualitas layanan yang            maintaining optimal service quality while keeping
   optimal dengan tingkat biaya yang tetap kompetitif,       costs competitive, the Company implements
   Perseroan menerapkan pengelolaan armada yang              structured and measurable fleet management,
   terencana dan terukur, khususnya dalam pengaturan         particularly in regulating vessel allocation to
   alokasi kapal agar setiap kegiatan operasional dapat      ensure that all operational activities are carried out
   berjalan secara efektif dan efisien. Untuk memenuhi       effectively and efficiently. To meet customer needs
   kebutuhan dan permintaan pelanggan, Perseroan             and demand, the Company not only optimizes the
   tidak hanya mengoptimalkan pemanfaatan armada             utilization of its owned fleet but also charters vessels
   milik sendiri, tetapi juga melakukan penyewaan            from third parties. This approach is undertaken to
   kapal dari pihak ketiga. Langkah tersebut dilakukan       ensure that services are delivered in a timely, reliable
   guna memastikan layanan dapat diberikan secara            manner and in accordance with established service
   tepat waktu, andal, dan sesuai dengan standar             standards.
   layanan yang ditetapkan.
3. Menjaga Hubungan yang Baik dengan Pelanggan            3. Maintaining Good Relationships with Customers
   Perseroan berfokus pada penyediaan layanan                The Company focuses on providing inter-island
   pengangkutan antar pulau untuk pasar domestik             transportation services for both domestic and
   maupun regional, dengan melayani berbagai                 regional markets, serving a diverse range of
   segmen pelanggan, mulai dari pengguna akhir               customer segments, including end users, traders,
   (end user), pedagang (trader), hingga perusahaan          and mining companies. The sustainability of the
   pertambangan. Keberlanjutan bisnis Perseroan              Company’s business is supported by strong and long-
   didukung oleh hubungan yang kuat dan berkelanjutan        term relationships with its customers, built through
   dengan para pelanggan, yang dibangun melalui              the provision of professional and reliable services.
   penyediaan layanan yang profesional dan andal.            Through this approach, the Company consistently
   Melalui pendekatan tersebut, Perseroan secara             secures contract renewals as well as new contracts,
   konsisten memperoleh perpanjangan kontrak                 and is able to meet customers’ cargo volume
   maupun kontrak baru, serta mampu memenuhi                 requirements in a timely and sustainable manner.
   kebutuhan volume angkutan pelanggan secara
   tepat waktu dan berkesinambungan.




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4. Mencari pelanggan baru                                  4. Acquiring New Customers
    Selain menjaga hubungan dengan pelanggan                  In addition to maintaining relationships with
    eksisting, Perseroan secara aktif mengembangkan           existing customers, the Company actively expands
    basis pelanggan baru guna meningkatkan skala              its customer base to enhance the scale and
    dan keberlanjutan operasional. Upaya tersebut             sustainability of its operations. These efforts are
    dilakukan melalui partisipasi dalam tender serta          undertaken through participation in tenders and
    pertemuan bisnis dengan para pelaku industri,             business meetings with industry players, including
    termasuk sektor pelayaran, batu bara, dan jenis           those in the shipping, coal, and other related
    industri lainnya. Perseroan juga terdaftar sebagai        industries. The Company is also a registered member
    anggota Asosiasi Pemilik Kapal Indonesia (INSA),          of the Asosiasi Pemilik Kapal Indonesia (INSA), which
    yang memungkinkan Perseroan untuk memantau                enables the Company to monitor market potential,
    potensi pasar, mengidentifikasi peluang usaha,            identify business opportunities, and stay informed
    serta mengikuti perkembangan regulasi terkini yang        of the latest regulatory developments relevant to its
    relevan dengan kegiatan bisnis Perseroan.                 business activities.


5. Melakukan ekspansi usaha                                5. Business Expansion
    Pada periode pelaporan, Perseroan melakukan               During the reporting period, the Company expanded
    ekspansi usaha melalui penambahan 1 (satu) unit           its business through the addition of 1 (one) mother
    kapal induk (mother vessel) dengan kapasitas              vessel with a capacity of 7,500 metric tons (MT),
    7.500 metrik ton (MT) guna meningkatkan                   aimed at enhancing bulk cargo transportation
    kapasitas pengangkutan muatan curah dan efisiensi         capacity and improving operational efficiency.
    operasional.
    Selain itu, Perseroan juga melakukan diversifikasi        In addition, the Company undertook business
    usaha dengan mengakuisisi 1 (satu) unit offshore          diversification by acquiring 1 (one) offshore support
    support vessel sebagai langkah awal pengembangan          vessel as an initial step in developing its business in
    bisnis di sektor minyak dan gas bumi.                     the oil and gas sector.
    Langkah ekspansi ini diharapkan dapat memperkuat          This expansion is expected to strengthen the
    posisi Perseroan serta membuka peluang                    Company’s position and create opportunities for
    pertumbuhan usaha yang berkelanjutan di masa              sustainable business growth in the future.
    mendatang.


6. Inspeksi dan perawatan armada secara rutin              6. Routine Fleet Inspection and Maintenance
    Perseroan menerapkan program inspeksi dan                 The Company implements a structured fleet
    perawatan armada secara terencana guna                    inspection and maintenance program to ensure
    memastikan keandalan operasional, efisiensi kinerja,      operational reliability, performance efficiency, and
    serta meminimalkan risiko down time. Kebijakan            to minimize the risk of downtime. This policy is
    ini diharapkan dapat meningkatkan tingkat utilisasi       expected to enhance vessel utilization rates while
    kapal sekaligus menekan potensi biaya tidak               reducing the potential for unforeseen costs arising
    terduga akibat kerusakan atau perbaikan yang tidak        from unplanned damage or repairs. As part of these
    direncanakan. Sebagai bagian dari upaya tersebut,         efforts, the Company schedules periodic dry docking
    Perseroan menjadwalkan pelaksanaan dry dock               for each vessel at intervals of every 2.5 years.
    untuk setiap armada secara berkala setiap 2,5 tahun.


7. Peningkatan kualitas sumber daya manusia                7. Enhancing Human Resource Quality
    Perseroan meyakini bahwa sumber daya manusia              The Company believes that high-quality human
    yang    berkualitas   merupakan     kunci  untuk          resources are a key factor in achieving superior
    mencapai kinerja yang unggul dan layanan yang             performance and delivering optimal services to
    optimal kepada pelanggan. Oleh karena itu,                customers. Accordingly, the Company develops
    Perseroan mengembangkan SDM melalui proses                its human capital through a selective recruitment
    rekrutmen yang selektif serta program pelatihan           process, as well as continuous training and
    dan pengembangan yang berkelanjutan guna                  development programs aimed at enhancing
    meningkatkan pengetahuan, keterampilan, dan               employees’ knowledge, skills, and professionalism.
    profesionalisme karyawan, sehingga mampu                  This approach enables employees to adapt to
    beradaptasi dengan dinamika bisnis dan mendukung          evolving business dynamics and effectively support
    pertumbuhan perusahaan.                                   the Company’s growth.




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        Ikhtisar Perseroan          Laporan Manajemen              Profil Perusahaan
        Company Summary             Management Report              Company Profile




8. Membina hubungan          baik   dengan     seluruh    8. Building  Strong          Relationships     with     All
   stakeholder                                               Stakeholders
   Perseroan meyakini bahwa hubungan yang kuat dan           The Company believes that strong relationships
   komunikasi yang efektif dengan seluruh pemangku           and effective communication with all stakeholders
   kepentingan, termasuk pelanggan, pemasok, serta           including customers, suppliers, and players in the
   pelaku industri perkapalan, pertambangan, dan             shipping, mining, and oil and gas industries are
   minyak dan gas bumi, merupakan fondasi penting            essential foundations for expanding its network and
   dalam memperluas jaringan dan peluang usaha.              business opportunities.
   Seiring dengan kepemilikan offshore support               In line with the ownership of an offshore support
   vessel sebagai bagian dari pengembangan bisnis            vessel as part of the development of oil and gas
   jasa penunjang kegiatan migas, Perseroan juga             support services, the Company continues to build
   terus membangun hubungan strategis dengan                 strategic relationships with industry players and
   pelaku industri migas dan kontraktor offshore guna        offshore contractors to gain access to project
   membuka akses terhadap peluang proyek di sektor           opportunities in this sector.
   tersebut.
   Melalui sinergi ini, Perseroan memperoleh akses           Through this synergy, the Company gains access
   terhadap informasi tender, referensi pelanggan baru,      to tender information, new customer references,
   serta peluang kerja sama dan perpanjangan kontrak         and more optimal opportunities for collaboration
   yang lebih optimal, baik di segmen angkutan muatan        and contract extensions, both in the bulk cargo
   curah maupun jasa pendukung kegiatan offshore.            transportation segment and in offshore support
                                                             services.


Pangsa Pasar                                              Market Share
Perseroan berfokus pada pasar domestik di sektor          The Company focuses on the domestic market in the bulk
jasa angkutan muatan curah melalui pengoperasian          cargo transportation segment through the operation of
armada tugboat, barge, dan mother vessel, dengan          its tugboat, barge, and mother vessel fleet, serving the
melayani kebutuhan transportasi komoditas seperti         transportation needs of commodities such as mining
hasil tambang, material konstruksi, serta barang          products, construction materials, and other industrial
industri lainnya. Pangsa pasar Perseroan didukung oleh    goods. The Company’s market share is supported by
permintaan yang stabil dari sektor pertambangan dan       stable demand from the mining and infrastructure
pembangunan infrastruktur, serta jaringan pelanggan       development sectors, as well as an expanding customer
yang terus berkembang di berbagai wilayah perairan        network across various Indonesian waters.
Indonesia.


Seiring dengan strategi diversifikasi usaha, Perseroan    In line with its business diversification strategy, the
juga mulai memasuki segmen jasa penunjang kegiatan        Company has also begun entering the oil and gas support
minyak dan gas bumi melalui kepemilikan offshore          services segment through the ownership of an offshore
support vessel. Meskipun pada periode pelaporan           support vessel. Although the contribution from this
kontribusi dari segmen ini masih terbatas, Perseroan      segment remains limited during the reporting period,
melihat adanya peluang pertumbuhan yang signifikan,       the Company sees significant growth opportunities,
baik di pasar domestik maupun internasional, seiring      both in domestic and international markets, in line with
dengan meningkatnya aktivitas offshore.                   increasing offshore activities.

Dengan kombinasi antara penguatan pasar domestik          With a combination of strengthening its domestic market
di segmen angkutan curah dan pengembangan pasar           in the bulk cargo segment and developing new markets
baru di sektor offshore, Perseroan optimistis dapat       in the offshore sector, the Company is optimistic that it
meningkatkan pangsa pasar secara bertahap serta           can gradually increase its market share and expand its
memperluas jangkauan usahanya di masa mendatang.          business reach in the future.


Tinjauan Keuangan                                         Financial Review
Tinjauan keuangan Perseroan dilakukan berpedoman          The Company’s financial review is prepared with reference
pada Laporan Keuangan per 31 Desember 2025 dan            to the Financial Statements as of December 31, 2025
31 Desember 2024. Laporan tersebut telah diaudit oleh     and December 31, 2024. These financial statements
Kantor Akuntan Publik Kanaka Puradiredja, Suhartono       have been audited by Kantor Akuntan Publik Kanaka
dengan memperoleh opini wajar dalam semua hal             Puradiredja, Suhartono, which issued an unmodified
yang material tanpa modifikasi, yang diuraikan sebagai    opinion stating that the financial statements are fairly
berikut.                                                  presented, in all material respects, as outlined below.



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                  Analisa dan Pembahasan Manajemen                        Tata Kelola Perusahaan                             Laporan Keberlanjutan
                  Management Discussion and Analysis                      Corporate governance                               Sustainability Report




Laporan Posisi Keuangan                                              Statement of Financial Position

Aset                                                                 Assets
                                                                                       (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                                                  Pertumbuhan
                                                                                     Growth
           Uraian                        2025               2024                                                                  Description
                                                                                  Rp                      %

Aset Lancar                                                                                                                             Current Assets
Kas dan Setara Kas                 14.299.014.327         3.251.404.222       11.047.610.105            339,78 Cash and Cash Equivalents
Putang Usaha                                                                                                                        Trade Receivables
   Pihak Ketiga – Bersih           25.772.292.417         7.799.713.266       17.972.579.151            230,43                  Third Parties – Net
Piutang Lain-Lain                                                                                                                   Other Receivables
   Pihak Ketiga                         5.138.443.486       319.711.092        4.818.732.394 1.507,21                                    Third Parties
Persediaan                              6.164.981.599     5.616.404.888          548.576.711                9,77                               Inventories

                                                                                                                              Prepaid Expenses and
Biaya Dibayar di Muka                    341.397.435        582.658.472         (241.261.037)           (41,41)
                                                                                                                                          Advance

Pajak Dibayar di Muka                               -     1.484.550.922       (1.484.550.922) (100,00)                                     Prepaid Taxes
Uang Muka                               2.483.200.883       545.957.946        1.937.242.937            354,83                           Down Payment
Deposit Sewa                             453.300.000      3.574.446.667       (3.121.146.667)           (87,32)                            Lease Deposit
Jumlah Aset Lancar                 54.652.630.147        23.174.847.475      31.477.782.672             135,83                 Total Current Assets
Aset Tidak Lancar                                                                                                               Non-Current Assets
Uang Muka Pembelian                                                                                                         Advance Payment for
                                                    -       874.746.601         (874.746.601) (100,00)
Aset Tetap                                                                                                               Purchase of Fixed Assets
Piutang Lain-Lain Pihak                                                                                                            Other Receivables
                                                    -     2.988.885.984       (2.988.885.984) (100,00)
Berelasi                                                                                                                        from Related Parties
Aset Tetap-Neto                 1.944.491.209.818       288.131.096.234    1.656.360.113.584            574,86                        Fixed Assets-Net
Aset Hak Guna-Neto                      5.700.083.416    17.258.270.878      (11.558.187.462)           (66,97)            Right of Use Assets-Net
Deposito Sewa                            400.000.000      1.225.000.000         (825.000.000)           (67,35)                            Lease Deposit
Jumlah Aset Tidak Lancar 1.950.591.293.234              310.477.999.697 1.640.113.293.537               528,25 Total Non-Current Assets
Jumlah Aset                    2.005.243.923.381        333.652.847.172 1.671.591.076.209               501,00                               Total Assets



Jumlah Aset                                                          Total Assets
Jumlah aset Perseroan tercatat sebesar Rp2,01 triliun                The Company’s total assets were recorded at Rp2.01
di tahun 2025, meningkat sebesar 501,00% atau                        trillion in 2025, representing an increase of 501.00%
setara Rp1,67 triliun dibandingkan dengan tahun 2024                 or equivalent to Rp1.67 trillion compared to Rp333.65
sebesar Rp333,65 miliar. Perubahan dipengaruhi oleh                  billion in 2024. This increase was driven by higher
peningkatan jumlah aset lancar dan aset tidak lancar.                balances in both current assets and non-current assets.

Aset Lancar                                                          Current Assets
Pada tahun 2025, aset lancar tercatat sebesar Rp54,65                In 2025, current assets were recorded at Rp54.65
miliar. Jumlah tersebut meningkat sebesar 135,83%                    billion. This amount increased by 135.83% or equivalent
atau setara Rp31,48 miliar dibandingkan dengan tahun                 to Rp31.48 billion compared to Rp23.17 billion in the
sebelumnya yang tercatat sebesar Rp23,17 miliar.                     previous year. The increase was primarily driven by a
Perubahan dipengaruhi oleh peningkatan piutang usaha                 230.43% rise in trade receivables from third parties –
pihak ketiga – bersih sebesar 230,43% atau setara                    net, or equivalent to Rp17.97 billion.
Rp17,97 miliar.




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         Company Summary                 Management Report                    Company Profile




Aset Tidak Lancar                                                  Non-Current Assets
Pada tahun 2025, aset tidak lancar tercatat sebesar                In 2025, non-current assets were recorded at Rp1.95
Rp1,95 triliun, meningkat sebesar 528,25% atau setara              trillion, representing an increase of 528.25% or
Rp1,64 triliun dibandingkan dengan tahun 2024 yang                 equivalent to Rp1.64 trillion compared to Rp307.48
berjumlah Rp307,48 miliar. Perubahan dipengaruhi oleh              billion in 2024. This increase was primarily driven by a
peningkatan pada aset tetap, neto sebesar 574,86%                  rise in property, plant and equipment – net, which grew
atau setara Rp1,66 triliun.                                        by 574.86% or equivalent to Rp1.66 trillion.


Liabilitas                                                         Liabilities
                                                                                   (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                                              Pertumbuhan
                                                                                 Growth
              Uraian                  2025               2024                                                                 Description
                                                                             Rp                      %

Liablitas Jangka Pendek                                                                                                    Short-Term Liabilities

Utang Usaha                                                                                                                           Trade Payables

   Pihak Ketiga                    20.673.662.066     13.851.571.475      6.822.090.591                  49,25                            Third Parties

Utang Lain-Lain                                                                         …                      …                       Other Payables

   Pihak Berelasi                   1.419.000.000        570.000.000        849.000.000                148,95                  Related Parties

   Pihak Ketiga                   758.701.750.189         11.750.189    758.690.000.000 6.456.832,31                               Third Parties

Utang Jaminan                       5.712.660.000      9.772.660.000     (4.060.000.000)              (41,54)                         Collateral Debt

Utang Pajak                         3.149.463.892        656.023.863      2.493.440.029                380,08                           Taxes Payable

Biaya yang Masih Harus Dibayar      1.113.752.722      5.634.887.144     (4.521.134.422)              (80,23)                     Accrued expenses

Pinjaman Bank                       9.657.868.000                  -      9.657.868.000                   0,00                              Bank Loans

Pendapatan Diterima di Muka                      -    11.683.333.334    (11.683.333.334)            (100,00)              Sales Advance Payment

Liabilitas Jangka Panjang yang
                                                                                                                            Long-Term Liabilities
Jatuh Tempo Dalam Waktu 1
                                                                                                                           Matured within 1 Year:
Tahun:

   Pinjaman Bank                    7.359.723.627     21.223.542.259    (13.863.818.632)              (65,32)                               Bank Loans

   Liablitas Sewa                   1.221.476.287      5.241.383.211     (4.019.906.924)              (76,70)                        Lease Liabilities

   Utang Pembiayaan                              -       167.570.850       (167.570.850)            (100,00)                             finance lease

Jumlah Liabilitas                                                                                                                 Total Short-Term
                                  809.009.356.783     68.812.722.325    740.196.634.458            1.075,67
Jangka Pendek                                                                                                                            Liabilities

Liabilitas Jangka Panjang                                                                                                   Long-Term Liabilities

Liabilitas Jangka Panjang                                                                                            Long-term Liabilities after
setelah Bagian Jatuh Tempo                                                                                           Current Portion Due within
dalam Waktu 1 Tahun:                                                                                                                     1 Year:

Utang Bank                        170.165.396.872    113.930.617.666     56.234.779.206                  49,36                              Bank Loans

Liabilitas Sewa                     5.132.768.079     13.449.891.658     (8.317.123.579)              (61,84)                        Lease Liabilities

  Pihak Ketiga                    923.010.000.000                  -    923.010.000.000                         -                      Third Parties

  Pihak Berelasi                   50.911.767.222     20.136.095.714     30.775.671.508                152,84                       Related Parties

                                                         203.024.867                                                             Employee Benefits
Liablitas Imbalan Kerja               105.129.671                           (97.895.196)              (48,22)
                                                                                                                                        Liabilities

Jumlah Liablitas Jangka                              127.583.534.191                                                               Total Long-Term
                                 1.149.325.061.844                     1.001.605.431.939               678,04
Panjang                                                                                                                                   Liabilities

Jumlah Liablitas                 1.958.334.418.627   216.532.352.230 1.741.802.066.397                 804,41                        Total Liabilities




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                  Analisa dan Pembahasan Manajemen                     Tata Kelola Perusahaan                             Laporan Keberlanjutan
                  Management Discussion and Analysis                   Corporate governance                               Sustainability Report




  Jumlah Liabilitas                                                    Total Liabilities
  Pada tahun 2025, Perseroan mencatatkan jumlah                        In 2025, the Company recorded total liabilities of Rp1.96
  liabilitas sebesar Rp1,96 triliun, naik cukup signifikan             trillion, representing a significant increase of 804.41%
  sebesar 804,41% atau setara Rp1,74 triliun dibandingkan              or equivalent to Rp1.74 trillion compared to Rp216.53
  tahun sebelumnya yang tercatat sebesar Rp216,53                      billion in the previous year. This increase was driven by
  miliar. Hal ini dikarenakan adanya peningkatan liabilitas            higher short-term liabilities and long-term liabilities.
  jangka pendek dan liabilitas jangka panjang.


  Liabilitas Jangka Pendek                                             Short-Term Liabilities
  Liabilitas jangka pendek naik sebesar 1.075,67% atau                 Short-term liabilities increased by 1,075.67% or
  setara Rp740,20 miliar, dari Rp68,81 miliar di tahun                 equivalent to Rp740.20 billion, from Rp68.81 billion
  2024 menjadi Rp809,01 miliar di tahun 2025. Hal ini                  in 2024 to Rp809.01 billion in 2025. This increase was
  dikarenakan adanya peningkatan pada utang lain-lain                  primarily attributable to higher other payables to third
  pihak ketiga.                                                        parties.


  Liabilitas Jangka Panjang                                            Long-Term Liabilities
  Liabilitas jangka panjang naik sebesar 678,04% atau                  Long-term liabilities increased by 678.04% or equivalent
  setara Rp1,00 triliun, dari Rp147,72 miliar di tahun                 to Rp1.00 trillion, from Rp147.72 billion in 2024 to
  2024 menjadi Rp1,15 triliun di tahun 2025. Kondisi                   Rp1.15 trillion in 2025. This condition was primarily
  ini dipengaruhi oleh adanya utang lain-lain dari pihak               driven by other payables to third parties amounting to
  ketiga sebesar Rp923,01 miliar.                                      Rp923.01 billion.


  Ekuitas                                                              Equity
                                                                                       (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                                                 Pertumbuhan
                                                                                    Growth
             Uraian                       2025               2024                                                                Description
                                                                                 Rp                     %

   Modal Dasar                     113.451.686.025       113.451.637.050              48.975         0,00004                       Authorized Capital

   Tambahan Modal Disetor                                                                                                Other Additional Paid- In
                                        59.489.071.396    59.488.614.949            456.447          0,00077
   Lainnya                                                                                                                                Capital

   Penghasilan                                                                                                                Other Comprehensive
                                          118.666.443        (24.782.546)       143.448.989          (578,83)
   Komprehensif Lain                                                                                                                      Income

   Akumulasi Defisit              (126.149.919.110)      (55.794.974.511)   (70.354.944.599)           126,10                    Accumulated deficit

   Jumlah Ekuitas                   46.909.504.754       117.120.494.942 (70.210.990.188)             (59,95)                                Total Equity



  Ekuitas Perseroan pada tahun 2025 tercatat sebesar                   The Company’s equity in 2025 was recorded at Rp46.81
  Rp46,81 miliar, turun 59,95% atau Rp70,21 miliar                     billion, representing a decrease of 59.95% or Rp70.21
  dibandingkan tahun 2024 sebesar Rp117,12 miliar.                     billion compared to Rp117.12 billion in 2024. This decline
  Penurunan ini terutama disebabkan oleh turunnya                      was primarily attributable to a significant decrease in
  penghasilan komprehensif lain secara signifikan serta                other comprehensive income as well as an increase in
  meningkatnya akumulasi defisit akibat kerugian,                      accumulated deficit due to losses, while there was no
  sementara tidak terdapat tambahan modal yang                         adequate capital injection to offset the decline.
  memadai untuk menahan penurunan tersebut.




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          Ikhtisar Perseroan               Laporan Manajemen                    Profil Perusahaan
          Company Summary                  Management Report                    Company Profile




Laporan Laba Rugi dan Penghasilan                                    Statement of Profit and Loss and Other Comprehensive
                                                                     Income
Komprehensif Lain
                                                                                     (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                                                Pertumbuhan
                                                                                   Growth
           Uraian                   2025                 2024                                                                   Description
                                                                                Rp                    %

Pendapatan                       55.163.208.359       62.173.596.046       (7.010.387.687)           (11,28)                                      Revenue

Beban Pokok Pendapatan          (53.646.763.562)     (56.120.537.866)       2.473.774.304              (4,41)                         Cost of Revenue

Laba Bruto                        1.516.444.797        6.053.058.180       (4.536.613.383)           (74,95)                                Gross Profit

Beban Usaha                                                                                                                     Operating Expenses

  Beban Umum dan                                                                                                                  General and
                                (31.790.879.159)     (32.576.623.273)         785.744.114               (2,41)
  Administrasi                                                                                                        Administrative Expenses

  Penghasilan (Beban)                                                                                                               Other Income
                                (20.143.445.664)      (9.726.188.741)     (10.417.256.923)            107,11
  Lain-Lain-Neto                                                                                                                 (Expenses) – Net

Rugi Usaha                      (50.417.880.026)     (36.249.753.834)     (14.168.126.192)              39,08                          Operating Loss

Beban Keuangan                  (19.275.106.074)     (14.665.557.902)      (4.609.548.172)              31,43                             Financial Cost

Rugi Sebelum Pajak
                                (69.692.986.100)     (50.915.311.736)     (18.777.674.364)              36,88             Loss Before Income Tax
Penghasilan

Beban Pajak Penghasilan            (661.958.500)        (746.083.153)          84.124.653             (11,28)                  Income Tax Expenses

Rugi Neto Tahun Berjalan        (70.354.944.600)     (51.661.394.889)     (18.693.549.711)              36,18                 Net Loss for the Year

Penghasilan/ (Beban)                                                                                                          Other Comprehensive
Komprehensif Lain                                                                                                                Income/(Expense)

Pos yang Tidak akan                                                                                                   Item Not be Reclassified to
Direklasifikasi ke Laba Rugi:                                                                                                      Profit or Loss

  Pengukuran Kembali
                                                                                                                        Remeasurement of Long
  Imbalan Kerja Jangka              143.448.989           90.259.100           53.189.889               58,93
                                                                                                                     Term for Employee Benefits
  Panjang

Jumlah Laba Rugi
                                                                                                                      Total Comprehensive Loss
Komprehensif Tahun              (70.211.495.611)     (51.571.135.789)     (18.640.359.822)              36,14
                                                                                                                               for the Year-Net
Berjalan-Neto

Laba per Saham:                                                                                                                 Earnings per Share:

  Dasar                                    (15,50)              (11,38)              (4,12)             36,20                                        Basic

  Dilusian                                 (12,88)              (11,38)              (1,50)             13,18                                    Diluted




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                  Analisa dan Pembahasan Manajemen          Tata Kelola Perusahaan             Laporan Keberlanjutan
                  Management Discussion and Analysis        Corporate governance               Sustainability Report




Pendapatan                                                Revenue
Pendapatan Perseroan turun sebesar 11,28% atau setara     The Company’s revenue decreased by 11.28%, or
Rp7,01 miliar, dari Rp62,17 miliar pada periode 2024      equivalent to Rp7.01 billion, from Rp62.17 billion in 2024
menjadi Rp55,16 miliar pada periode 2025. Kondisi ini     to Rp55.16 billion in 2025. This decline was attributable
dipengaruhi oleh penurunan turunnya pendapatan dari       to lower operating segment revenues, particularly from
segmen operasi, baik sewa kapal dan ship management.      vessel chartering and ship management.


Beban Pokok Pendapatan                                    Cost of Revenue
Pada tahun 2025, beban pokok pendapatan tercatat          In 2025, cost of revenue was recorded at Rp53.65
sebesar Rp53,65 miliar. Jumlah tersebut mengalami         billion, representing a decrease of 4.41% or equivalent
penurunan sebesar 4,41% atau setara Rp2,47 miliar         to Rp2.47 billion compared to Rp56.12 billion in 2024.
dibandingkan tahun 2024 yang tercatat sebesar Rp56,12     This decrease was primarily attributable to a reduction
miliar. Kondisi ini dipengaruhi oleh penurunan asuransi   in vessel chartering insurance expenses by 63.83% or
sewa kapal sebesar 63,83% atau setara Rp4,46 miliar.      equivalent to Rp4.46 billion.


Laba Bruto                                                Gross Profit
Pada tahun 2025, laba bruto tercatat sebesar Rp1,52       In 2025, gross profit was recorded at Rp1.52 billion,
miliar. Jumlah tersebut mengalami penurunan sebesar       representing a decrease of 74.95% or equivalent to
74,95% atau setara Rp4,54 miliar dibandingkan tahun       Rp4.54 billion compared to Rp6.05 billion in 2024. This
2024 yang tercatat sebesar Rp6,05 miliar. Kondisi ini     decline was attributable to lower revenue and cost of
dipengaruhi oleh penurunan pendapatan dan beban           revenue.
pokok pendapatan.


Rugi Usaha                                                Operating Loss
Perseroan mencatatkan rugi usaha sebesar Rp50,42          The Company recorded an operating loss of Rp50.42
miliar di tahun 2025, naik sebesar 39,08% atau setara     billion in 2025, representing an increase of 39.08%
Rp14,17 miliar dibandingkan dengan tahun sebelumnya       or equivalent to Rp14.17 billion compared to Rp36.25
sebesar Rp36,25 miliar. Perubahan ini dipengaruhi         billion in the previous year. This change was influenced
adanya peningkatan penghasilan (beban) lain-lain –        by an increase in other income (expenses) – net, along
neto yang diiringi dengan penurunan beban umum dan        with a decrease in general and administrative expenses.
administrasi.


Rugi Neto Tahun Berjalan                                  Net Loss for the Year
Perseroan mencatatkan rugi neto tahun berjalan sebesar    The Company recorded a net loss for the year of Rp70.35
Rp70,35 miliar pada tahun 2025. Jumlah ini mengalami      billion in 2025. This amount increased by 36.18% or
kenaikan sebesar 36,18% atau setara Rp18,69 miliar        equivalent to Rp18.69 billion compared to Rp51.66
dibandingkan tahun 2024 yang tercatat sebesar Rp51,66     billion in 2024. This change was driven by an increase in
miliar. Perubahan ini dipengaruhi adanya peningkatan      loss before tax.
rugi sebelum pajak penghasilan.


Laba per Saham                                            Earnings per Share
Pada tahun 2025, Perseroan mencatatkan peningkatan        In 2025, the Company recorded an increase in earnings
laba per saham, baik dasar maupun dilusian. Laba          per share, both basic and diluted. Basic earnings per share
per saham dasar mencapai Rp15,50, naik Rp4,12 dari        reached Rp15.50, an increase of Rp4.12 from Rp11.38 in
Rp11,38 pada tahun sebelumnya. Sementara, laba per        the previous year. Meanwhile, diluted earnings per share
saham dilusian tercatat sebesar Rp12,88, naik sebesar     was recorded at Rp12.88, up by Rp1.50 compared to
Rp1,50 dibandingkan tahun sebelumnya yang tercatat        Rp11.38 in the previous year.
sebesar Rp11,38.




Annual and Sustainability Report 2025                          PT CAKRA BUANA RESOURCES ENERGI Tbk
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         Ikhtisar Perseroan             Laporan Manajemen                  Profil Perusahaan
         Company Summary                Management Report                  Company Profile




Laporan Arus Kas                                                 Statements of Cash Flows
                                                                                 (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                                                            Pertumbuhan
                                                                               Growth
          Uraian                 2025                 2024                                                                  Description
                                                                            Rp                      %

Kas Bersih Diperoleh dari
                                                                                                                  Net Cash Provided by (Used
(Digunakan untuk) Aktivitas   (57.143.974.768)       6.712.161.739     (63.856.136.507)         (951,35)
                                                                                                                      in) Operating Activities
Operasi

Kas Bersih Digunakan untuk                                                                                         Net Cash Used in Investing
                              (18.736.950.146)    (179.029.767.041)    160.292.816.895           (89,53)
Aktivitas Investasi                                                                                                                 Activities

Kas Bersih Diperoleh dari                                                                                                  Net Cash Provided by
                               86.928.535.019        1.983.527.144      84.945.007.875          4.282,52
Aktivitas Pendanaan                                                                                                         Financing Activities

Kenaikan/(Penurunan)                                                                                               Net Increase/(Decrease) in
                               11.047.610.105     (170.334.078.157)    181.381.688.262          (106,49)
Bersih Kas dan Setara Kas                                                                                          Cash and Cash Equivalents

Kas dan Setara Kas Awal                                                                                           Cash and Cash Equivalents
                                3.251.404.222      173.585.482.379    (170.334.078.157)          (98,13)
Tahun                                                                                                            at the Beginning of the Year

Kas dan Setara Kas Akhir                                                                                           Cash and Cash Equivalents
                               14.299.014.327        3.251.404.222      11.047.610.105           339,78
Tahun                                                                                                                  at the End of the Year



Kas Bersih Diperoleh          dari   (Digunakan     untuk)       Net Cash Provided by (Used in) Operating Activities
Aktivitas Operasi
Pada tahun 2025, kas bersih dari aktivitas operasi               In 2025, net cash from operating activities was recorded
tercatat sebesar Rp57,14 miliar, menurun sebesar                 at Rp57.14 billion, representing a decrease of Rp63.86
Rp63,86 miliar dibandingkan tahun 2024 yang sebesar              billion compared to Rp6.71 billion in 2024. This decline
Rp6,71 miliar. Penurunan ini terutama disebabkan oleh            was primarily attributable to lower receipts from
turunnya penerimaan dari pelanggan, serta peningkatan            customers, as well as a significant increase in interest
pembayaran bunga yang signifikan dan penurunan                   payments and a decrease in other receipts.
penerimaan lain-lain.


Kas Bersih Digunakan untuk Aktivitas Investasi                   Net Cash Used in Investing Activities
Perseroan mencatatkan kas bersih yang digunakan untuk            The Company recorded net cash used in investing
aktivitas investasi tercatat sebesar Rp18,74 miliar di           activities of Rp18.74 billion in 2025. This amount
tahun 2025. Jumlah ini mengalami penurunan sebesar               decreased by 89.53% or equivalent to Rp160.29 billion
89,53% atau setara Rp160,29 miliar dibandingkan                  compared to Rp179.03 billion in 2024. This change was
dengan tahun 2024 sebesar Rp179,03 miliar. Perubahan             primarily attributable to lower acquisition of property,
ini terutama disebabkan oleh penurunan perolehan                 plant and equipment, as well as the disposal of property,
aset tetap, serta adanya pelepasan aset tetap dan tidak          plant and equipment and the absence of advance
adanya pembayaran uang muka pembelian pada tahun                 payments for purchases during the year.
berjalan.


Kas Bersih Diperoleh dari Aktivitas Pendanaan                    Net Cash Provided by Financing Activities
Pada tahun 2025, kas neto Perseroan dari aktivitas               In 2025, the Company’s net cash from financing activities
pendanaan tercatat sebesar Rp86,93 miliar. Jumlah                was recorded at Rp86.93 billion. This amount increased
tersebut meningkat sebesar 4.282,52% atau setara                 by 4,282.52% or equivalent to Rp84.95 billion compared
Rp84,95 miliar dibandingkan dengan tahun sebelumnya              to Rp1.98 billion in the previous year. This increase was
sebesar Rp1,98 miliar. Perubahan disebabkan oleh                 attributable to proceeds from bank borrowings.
terdapat penrimaan pinjaman bank.




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                  Analisa dan Pembahasan Manajemen                       Tata Kelola Perusahaan                            Laporan Keberlanjutan
                  Management Discussion and Analysis                     Corporate governance                              Sustainability Report




Nilai Ekonomi Langsung yang Dihasilkan                                 Direct Economic Value Generated and
dan Didistribusikan                                                    Distributed
Sebagai bagian dari komitmen terhadap keberlanjutan,                   As part of its commitment to sustainability, the
Perseroan secara konsisten mendistribusikan nilai                      Company consistently distributes the economic value it
ekonomi yang dihasilkan kepada para pemangku                           generates to its stakeholders. This distribution reflects
kepentingan. Distribusi ini merupakan wujud kontribusi                 the Company’s contribution to supporting business
Perseroan dalam mendukung keberlanjutan usaha,                         sustainability, improving quality of life, and promoting
peningkatan kualitas hidup, dan pertumbuhan ekonomi                    inclusive economic growth. The details of the Company’s
yang inklusif. Adapun rincian distribusi nilai ekonomi                 economic value distribution over the past three years
Perseroan selama 3 tahun terakhir diungkapkan sebagai                  are presented as follows.
berikut.

                                                                                     (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


              Uraian                         2025               2024                  2023                                   Description

Nilai Ekonomi yang Langsung                                                                                              Direct Economic Value
Dihasilkan                                                                                                                          Generated

Penerimaan dari Pelanggan                13.149.643.413      73.891.199.568       39.355.911.497                        Receipt from Customers

Penerimaan Lain-Lain                         86.071.599          25.316.549                             -                              Other Receipts

Perolehan Aset Tetap                    (26.736.950.146)   (177.323.495.078)     (11.720.770.088)                        Fixed Assets Acquisition

Pelepasan Aset Tetap                       8.000.000.000                    -                           -                Disposal of Fixed Assets

Pembayaran Piutang Lain-lain                                                                                 Collection of Other Receivables
                                                       -       (831.525.362)         476.215.000
Pihak Berelasi                                                                                                          from Related Parties

Jumlah Nilai Ekonomi yang
                                         (5.501.235.134) (104.238.504.323)        28.111.356.409                Total Direct Economic Value
Langsung Dihasilkan



Nilai Ekonomi yang Langsung                                                                                              Direct Economic Value
Didistribusikan                                                                                                                     Distributed

Pembayaran kepada Pemasok                                                                                           Payments to Suppliers and
                                        (42.199.977.575)    (44.130.721.348)     (25.868.060.060)
dan Operasional Lainnya                                                                                                    Other Operations

Pembayaran kepada Direksi dan                                                                                  Payment to Board of Directors
                                         (8.506.025.011)     (8.486.064.188)      (2.308.163.513)
Karyawan                                                                                                                    and Employees

Pembayaran Pajak                           (661.958.500)       (746.083.153)        (512.738.000)                                  Payment of Taxes

Pembayaran Utang Lain-lain                                                                                          Payment of Other Payables
                                          35.066.771.872     20.406.095.714                             -
Pihak Berelasi                                                                                                                 Related Parties

Pembayaran Liabilitas Sewa                 (167.570.850)     (5.068.447.565)      (4.794.677.836)                 Payment of Lease Liabilities

Jumlah Nilai Ekonomi                                                                                            Total Direct Economic Value
                                        (16.468.760.064)   (38.025.220.540)     (33.483.639.409)
Langsung yang Didistribusikan                                                                                                    Distributed

Nilai Ekonomi yang Disimpan/
                                        (21.969.995.198) (142.263.724.863)       (5.372.283.000)                     Retained Economic Value
Ditahan




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        Company Summary                  Management Report              Company Profile




Rasio Keuangan                                               Financial Ratios
                                                                            (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                     Uraian                       2025          2024                                       Description

Rasio Usaha                                                                                                                Operating Ratio

Rasio Profitabilitas                                                                                                    Profitability Ratio

                                                                                                                               (dalam/ in %)

Laba Bruto terhadap Pendapatan                    2,75          9,74                                            Gross Profit to Revenue

Laba Bruto terhadap Jumlah Aset                   0,08          1,81                                       Gross Profit to Total Assets

Laba Bruto terhadap Jumlah Ekuitas                3,23          5,17                                       Gross Profit to Total Equity

Rugi Sebelum Pajak terhadap Pendapatan          (126,34)       (81,89)                                    Loss Before Tax to Revenue

Rugi Sebelum Pajak terhadap Jumlah Aset          (3,48)        (15,26)                              Loss Before Tax to Total Assets

Laba Rugi Sebelum Pajak terhadap                                                                            Profit/(Loss) Before Tax to
                                                (148,57)       (43,47)
Jumlah Ekuitas                                                                                                             Total Equity

Rugi Neto Tahun Berjalan terhadap                                                                                   Net Loss for the Year
                                                (127,54)       (83,09)
Pendapatan                                                                                                                    to Revenue

Rugi Neto Tahun Berjalan terhadap                                                                                   Net Loss for the Year
                                                 (3,51)        (15,48)
Jumlah Aset                                                                                                               to Total Assets

Rugi Neto Tahun Berjalan terhadap                                                                                   Net Loss for the Year
                                                (149,98)       (44,11)
Jumlah Ekuitas                                                                                                            to Total Equity

EBITDA terhadap Pendapatan                       (91,40)       (4,77)                                                  EBITDA to Revenue

Rasio Likuiditas                                                                                                             Liquidity Ratio

                                                                                                                                 (dalam/ in x)

Aset Lancar terhadap
                                                  0,07          0,34                   Current Assets to Short-Term Liabilities
Liabilitas Jangka Pendek

Rasio Solvabilitas                                                                                                           Solvency Ratio

                                                                                                                                 (dalam/ in x)

Jumlah Liabilitas terhadap Jumlah Ekuitas        41,75          1,85                                 Total Liabilities to Total Equity

Jumlah Liabilitas terhadap Jumlah Aset            0,98          0,65                                 Total Liabilities to Total Assets

Jumlah Ekuitas terhadap Jumlah Aset               0,02          0,35                                        Total Asset to Total Equity

Interest Coverage Ratio                          (2,62)         2,47                                            Interest Coverage Ratio

Debt Service Coverage Ratio                      (0,36)        (0,27)                                    Debt Service Coverage Ratio




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                  Analisa dan Pembahasan Manajemen                     Tata Kelola Perusahaan                                Laporan Keberlanjutan
                  Management Discussion and Analysis                   Corporate governance                                  Sustainability Report




Rasio Likuiditas                                                     Liquidity Ratio
Pada tahun 2025, Perseroan mencatat rasio likuiditas                 In 2025, the Company recorded a liquidity ratio of
sebesar 0,07 kali, mengalami penurunan dari 0,34 kali                0.07x, declining from 0.34x in the previous period.
pada periode sebelumnya. Penurunan ini merupakan                     This decrease represents a short-term impact of fleet
dampak jangka pendek dari pelaksanaan kegiatan                       docking activities as well as the realization of capital
docking armada serta realisasi belanja modal (CAPEX)                 expenditures (CAPEX) for the maintenance of key assets
untuk pemeliharaan aset utama dan kepatuhan regulasi                 and long-term regulatory compliance.
dalam jangka panjang.


Kondisi tersebut menyebabkan sejumlah armada belum                   These conditions resulted in certain vessels not
dapat beroperasi secara penuh, sehingga membatasi                    operating at full capacity, thereby limiting cash inflows
arus kas masuk dari aktivitas operasional selama periode             from operating activities during the reporting period.
pelaporan. Sebagai langkah perbaikan, Perseroan fokus                As part of its remedial measures, the Company is
pada optimalisasi utilisasi armada pasca docking dan                 focusing on optimizing fleet utilization post-docking
peningkatan efektivitas penagihan untuk memastikan                   and enhancing the effectiveness of collections to ensure
pemenuhan kewajiban jangka pendek tetap terjaga                      that short-term obligations continue to be met on a
secara berkelanjutan.                                                sustainable basis.


Rasio Solvabilitas                                                   Solvency Ratio
Rasio ini mengukur kemampuan dalam memenuhi                          This ratio measures its ability to meet non current
kewajiban keuangan jangka panjang melalui rasio                      liabilities through solvency ratios, which are calculated
solvabilitas, yang dihitung berdasarkan perbandingan                 based on the comparison of total liabilities to equity,
antara jumlah liabilitas terhadap ekuitas, jumlah                    total liabilities to total assets, and total equity to total
liabilitas terhadap aset, serta jumlah ekuitas terhadap              assets. In 2025, these ratios were recorded at 41,75
aset. Pada tahun 2025, masing-masing rasio tersebut                  times, 0,98 times, and 0,02 times, respectively, reflecting
tercatat sebesar 41,75 kali, 0,98 kali, dan 0,02 kali, yang          changes compared to 2024, when the respective ratios
mengalami perubahan dibandingkan dengan tahun                        stood at 1.85 times, 0.65 times, and 0.35 times.
2024, di mana masing-masing rasio tercatat sebesar
1,85 kali, 0,65 kali, dan 0,35 kali.


Tingkat Kolektibilitas Piutang                                       Receivables Collectability Rate
Efektivitas penagihan piutang usaha Perseroan tercermin              The effectiveness of the Company’s trade receivables
dari tingkat kolektibilitas piutang, yang menunjukkan                collection is reflected in its receivables collectability
kemampuan piutang untuk dikonversi menjadi kas. Rasio                level, which indicates the ability of receivables to be
ini dihitung berdasarkan perbandingan antara piutang                 converted into cash. This ratio is calculated based on
usaha dan pendapatan tahun berjalan. Perkembangan                    the comparison between trade receivables and revenue
tingkat kolektibilitas piutang Perseroan selama 2 tahun              for the current year. The development of the Company’s
terakhir diungkapkan sebagai berikut.                                receivables collectability level over the past 2 years is
                                                                     presented as follows.

                                                                                       (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                      Uraian                           2025              2024                                       Description

Piutang Usaha                                  25.772.292.417         7.799.713.266                                                 Trade Receivables

Rata-Rata Piutang Usaha-Bersih                 16.786.002.842         7.338.503.633                            Average Trade Receivables-Net

Pendapatan                                     55.163.208.359        62.173.596.046                                                               Net Sales

Perputaran Piutang                                            3,29              8,47                                           Receivables Turnover

Rata-Rata Periode Penagihan Piutang (hari)                    111                43 Average Receivables Collection Period (days)




Annual and Sustainability Report 2025                                     PT CAKRA BUANA RESOURCES ENERGI Tbk
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        Company Summary                  Management Report                 Company Profile




Struktur  Modal     dan    Kebijakan                            Capital Structure and Management
Manajemen atas Struktur Modal                                   Policy on Capital Structure

Struktur Modal                                                  Capital Structure
Informasi terkait struktur modal Perseroan dalam 2              Information on the Company’s capital structure over
tahun terakhir.                                                 the past 2 years.
                                                                               (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                    Uraian                       2025               2024                                      Description

Jumlah Liabilitas                          1.958.334.418.627    216.532.352.230                                                 Total Liabilities

Dikurangi: Kas dan Setara Kas                 14.299.014.327      3.251.404.222                      Less: Cash and Cash Equivalents

Utang Bersih                               1.944.035.404.300    213.280.948.008                                                            Net Debt

Jumlah Ekulitas                               46.909.504.754    117.120.494.942                                                       Total Equity

Rasio Pengungkit (%)                                    41,44               1,82                                                  Gearing Ratio



Kebijakan Manajemen atas Struktur Modal                         Management Policy on Capital Structure
Dalam rangka menjaga kesehatan keuangan, Perseroan              In order to maintain sound financial health, the
mengelola struktur permodalan secara optimal                    Company optimally manages its capital structure by
dengan menyeimbangkan penggunaan liabilitas dan                 balancing the use of liabilities and equity. Regular
ekuitas. Evaluasi dilakukan secara berkala dengan               evaluations are conducted by taking into account
mempertimbangkan dinamika ekonomi, profil risiko,               economic dynamics, risk profile, and operational
dan kebutuhan operasional, serta didukung oleh                  requirements, supported by integrated management
pengelolaan sumber pendanaan internal dan eksternal             of internal and external funding sources to support
yang terintegrasi guna mendukung pertumbuhan usaha              sustainable business growth and maintain the
yang berkelanjutan serta menjaga fleksibilitas keuangan         Company’s financial flexibility.
Perseroan.


Realisasi Penggunaan                     Dana      Hasil        Realization of Use of Public Offering
Penawaran Umum                                                  Proceeds
Perseroan telah menggunakan seluruh dana hasil                  The Company has used all the funds from the public
penawaran umum, sehingga pada tahun pelaporan                   offering, so that in the 2025 reporting year, there are
2025, tidak terdapat sisa dana dari hasil penawaran             no remaining funds from the public offering and this
umum dan telah disampikan kepada regulator pada                 has been submitted to the regulator on March 15, 2024
tanggal 15 Maret 2024 kepada regulator melalui Surat            to the regulator through Letter No. 0008/CS-CBRE/
No. 0008/CS-CBRE/JKT/III/2024, dengan informasi                 JKT/III/2024, with the following information.
sebagai berikut.


                                                 Keterangan                                                                    Nilai Nominal
 No.
                                                 Description                                                                    Value (Rp)

 1. Penerimaan Dana IPO/Funds from IPO Proceeds                                                                                 79.704.000.000

 2. Biaya Emisi IPO/IPO Emission Costs                                                                                          (3.175.559.227)

 3. OPEX (Operating Expenditure)                                                                                              (25.408.235.073)

 4. CAPEX (Capital expenditure)                                                                                               (51.152.071.985)

 5. Total Penggunaan Dana/Total Use of Funds                                                                                 (79.735.866.285)




104         PT CAKRA BUANA RESOURCES ENERGI Tbk                                              Laporan Tahunan dan Keberlanjutan 2025
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                  Analisa dan Pembahasan Manajemen               Tata Kelola Perusahaan                            Laporan Keberlanjutan
                  Management Discussion and Analysis             Corporate governance                              Sustainability Report




Kebijakan dan Pembagian Dividen                               Dividend Distribution and Policy

Kebijakan Dividen                                             Policy Dividend
Kebijakan pembagian dividen Perseroan ditetapkan              The Company’s dividend distribution policy is
dalam Rapat Umum Pemegang Saham (RUPS) Tahunan                determined at the Annual General Meeting of
mengacu pada ketentuan peraturan perundang-                   Shareholders (GMS), with due reference to the applicable
undangan yang berlaku. Selain itu, Perseroan juga             laws and regulations. In addition, the Company takes
mempertimbangkan kondisi keuangan dan kebutuhan               into consideration its financial condition and strategic
strategis, antara lain posisi kas, rasio permodalan, saldo    needs, including cash position, capital adequacy ratios,
laba ditahan, serta rencana investasi dan pengembangan        retained earnings balance, as well as investment and
usaha, guna menjaga keseimbangan antara kepentingan           business development plans, in order to maintain a
Pemegang Saham dan keberlanjutan bisnis Perseroan.            balance between the interests of Shareholders and the
                                                              sustainability of the Company’s business.


Pembagian Dividen                                             Dividend Distribution
Perseroan mencatatkan rugi bersih untuk tahun buku            The Company recorded a net loss for the 2024 financial
2024, sehingga masih memiliki akumulasi defisit dan           year and, accordingly, continues to have an accumulated
belum menyisihkan dana cadangan wajib. Sehubungan             deficit and has not yet set aside the mandatory statutory
dengan kondisi tersebut, Perseroan belum dapat                reserve. In light of this condition, the Company has not
membagikan dividen kepada para Pemegang Saham,                been able to distribute dividends to its Shareholders,
sesuai dengan ketentuan dalam Anggaran Dasar                  in accordance with the provisions of the Company’s
Perseroan, Prospektus Perseroan, dan peraturan                Articles of Association, the Company’s Prospectus,
perundang-undangan yang berlaku. Ke depan, Perseroan          and the prevailing laws and regulations. Going forward,
terus berfokus pada penguatan kinerja operasional dan         the Company remains focused on strengthening its
struktur keuangan sebagai dasar untuk mendukung               operational performance and financial structure as a
perbaikan kinerja dan keberlanjutan usaha.                    foundation to support performance improvement and
                                                              long-term business sustainability.


Program Kepemilikan Saham Karyawan                            Employee and/or Management Share
dan/atau Manajemen                                            Ownership Program
Per 31 Desember 2025, Perseroan belum melaksanakan            As of December 31, 2025, the Company has not
program kepemilikan saham bagi karyawan dan/atau              implemented any employee and/or management stock
manajemen.                                                    ownership program.


Investasi Barang Modal                                        Capital Goods Investment
Sebagai bagian dari upaya menjaga keberlanjutan dan           As part of its efforts to maintain business sustainability
pengembangan usaha, Perseroan melakukan investasi             and development, the Company undertakes capital
barang modal, sebagaimana diungkapkan sebagai                 expenditures, as disclosed as follows.
berikut.

                                                                             (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                  Uraian                       2025               2024                                      Description

Kapal                                     1.672.320.000.000   211.737.380.163                                                                   Ship

Peralatan Kantor                                 90.554.540        22.000.000                                                  Office Supplies

Peralatan Kapal                               6.478.329.867     1,364.300.355                                               Ship Equipments

Docking                                      20.168.065.738     6.543.616.926                                                             Docking

Jumlah                                   1.699.056.950.145    219.667.297.444                                                                 Total




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           Ikhtisar Perseroan                 Laporan Manajemen                     Profil Perusahaan
           Company Summary                    Management Report                     Company Profile




Ikatan Material terkait Investasi Barang                                 Material Commitment Related to Capital
Modal                                                                    Goods Invest
Pada tahun 2025, Perseroan memiliki ikatan material                      In 2025, the Company had a material commitment
terkait investasi barang modal, yaitu pembelian kapal                    related to capital expenditure, namely the acquisition of
Hailong. Transaksi ini telah diungkapkan pada Laporan                    the Hailong vessel. This transaction has been disclosed
Keuangan Perseroan.                                                      in the Company’s Financial Statements.


Informasi Material terkait Investasi,                                    Material Information on Investment,
Ekspansi, Divestasi, Penggabungan/                                       Expansion,Divestment,        Business
Peleburan    Usaha,    Akuisisi, atau                                    Merger/Consolidation, Acquisition, or
Restrukturisasi Utang/Modal                                              Debt/Capital Restructuring
Pada tahun 2025, Perseroan melakukan investasi                           Translasi:
melalui pembelian aset kapal Offshore Support Vessel                     In 2025, the Company made an investment through the
jenis Pipe Laying & Lifting Vessel (PLLV) Hai Long 106                   acquisition of an Offshore Support Vessel, specifically a
dari Hilong Shipping Holding Limited (Hilong Group)                      Pipe Laying & Lifting Vessel (PLLV) Hai Long 106, from
sebagai bagian dari strategi diversifikasi usaha ke sektor               Hilong Shipping Holding Limited (Hilong Group), as part
jasa penunjang kegiatan offshore di industri minyak dan                  of its business diversification strategy into offshore
gas bumi. Sejalan dengan langkah tersebut, Perseroan                     support services within the oil and gas industry. In line
juga melakukan ekspansi usaha melalui penambahan                         with this initiative, the Company also undertook business
Klasifikasi Baku Lapangan Usaha Indonesia (KBLI)                         expansion through the addition of Indonesian Standard
yang mencakup kegiatan penunjang offshore, serta                         Industrial Classification (KBLI) covering offshore support
melakukan divestasi aset berupa kapal C3009 sebagai                      activities, and carried out a divestment of the C3009
bagian dari upaya optimalisasi portofolio aset dan                       vessel as part of its efforts to optimize its asset portfolio
peningkatan efisiensi operasional.                                       and enhance operational efficiency.


Akuisisi                                                                 Acquisition

Pihak yang Melakukan
Transaksi                       PT Cakra Buana Resources Energi Tbk
Transacting Parties

Tanggal Transaksi
                                11 August 2025
Transaction Date

Nilai Transaksi
                                USD100 juta
Transaction Value

Objek Transaksi                 Kapal Offshore Support Vessel berjenis Pipe Laying & Lifting Vessel (PLLV).
Transaction Object              Offshore Support Vessel of the Pipe Laying & Lifting Vessel (PLLV) type.

Sifat Hubungan Afiliasi         Tidak terdapat hubungan afiliasi dalam proses akuisisi.
Affiliation                     There were no affiliated relationships involved in the acquisition process.

Alasan Dilakukannya             Untuk mendukung ekspansi ke kegiatan usaha baru di bidang infrastruktur bawah laut dan layanan
Transaksi                       energi lepas pantai./To support expansion into new business activities in the subsea infrastructure and
Transaction Purpose             offshore energy services sectors.

                                Transaksi pembelian kapal yang bersifat material dilakukan oleh Perseroan sebagai bagian dari strategi
                                pengembangan usaha dan diversifikasi layanan. Transaksi ini dilaksanakan dengan mempertimbangkan
                                kebutuhan operasional dan prospek usaha Perseroan. Berdasarkan kajian manajemen, akuisisi kapal
                                dilakukan pada nilai yang wajar dan berdasarkan pertimbangan komersial yang berlaku umum,
                                serta bertujuan untuk memperkuat kapasitas armada dan memperluas sumber pendapatan. Dalam
Penjelasan Mengenai
                                pelaksanaan transaksi tersebut, tidak terdapat benturan kepentingan. / The material vessel acquisition
Kewajaran Transaksi
                                transaction was undertaken by the Company as part of its business development strategy and service
Transaction Fairness
                                diversification efforts. This transaction was carried out with due consideration of the Company’s
                                operational requirements and business prospects. Based on management’s assessment, the vessel
                                was acquired at a fair value and in accordance with generally accepted commercial practices, with
                                the objective of strengthening fleet capacity and expanding revenue sources. In the execution of this
                                transaction, there were no conflicts of interest.




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                                  Perseroan telah memenuhi seluruh ketentuan peraturan perundang-undangan yang berlaku
                                  sehubungan dengan transaksi pembelian aset yang bersifat material, termasuk kewajiban keterbukaan
                                  informasi sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan No. 31/POJK.04/2015 tentang
 Pemenuhan Ketentuan              Keterbukaan atas Informasi atau Fakta Material dan Peraturan Otoritas Jasa Keuangan No. 17/
 Terkait                          POJK.04/2020 tentang Transaksi Material dan Perubahan Kegiatan Usaha. / The Company has complied
 Compliance with                  with all applicable laws and regulations in relation to the material asset acquisition transaction,
 Relevant Regulations             including the information disclosure obligations as stipulated under Regulation of the Otoritas Jasa
                                  Keuangan No. 31/POJK.04/2015 concerning Disclosure of Material Information or Facts and Regulation
                                  of the Financial Services Authority No. 17/POJK.04/2020 concerning Material Transactions and
                                  Changes in Business Activities.

                                  Dewan Komisaris dan Direksi Perseroan menyatakan bahwa transaksi pembelian kapal telah dilakukan
                                  berdasarkan kajian internal yang memadai dan merupakan langkah strategis untuk mendukung
 Pernyataan Dewan                 pengembangan usaha serta penguatan kapasitas operasional Perseroan. Komite Audit menyatakan
 Komisaris, Direksi, dan          bahwa transaksi tersebut telah dilaksanakan sesuai dengan ketentuan peraturan perundang-undangan
 Komite Audit                     yang berlaku, tidak mengandung benturan kepentingan, dan dinilai wajar serta untuk kepentingan
 Statement of the Board           terbaik Perseroan. / The Company’s Board of Commissioners and Board of Directors stated that the
 of Commissioners, Board          vessel acquisition transaction was conducted based on adequate internal assessments and represents
 of Directors and Audit           a strategic step to support business development and strengthen the Company’s operational capacity.
 Committee                        The Audit Committee stated that the transaction was carried out in compliance with applicable laws
                                  and regulations, does not involve any conflicts of interest, and was deemed fair and in the best interests
                                  of the Company.



Transaksi Material yang Mengandung                                               Material     Transactions  Containing
Benturan Kepentingan atau Transaksi                                              Conflicts of Interest or Transactions
dengan Pihak Afiliasi                                                            with Affiliated Parties
Pada tahun 2025, Perseroan melakukan transaksi                                   In 2025, the Company entered into transactions with
dengan pihak afiliasi dalam rangka mendukung dan                                 affiliated parties in order to support and maintain its
menjaga keberlangsungan usaha Perseroan, yang                                    business continuity, as disclosed below.
diungkapkan sebagai berikut.



               Pihak Berelasi                                   Hubungan                                           Sifat Transaksi
               Related Parties                                 Relationships                                    Nature of Transaction

 PT Catur Dharma Anugerah Surya                    Entitas Afilliasi/ Affiliated Entities*)                   Sewa Kantor/Office Lease
*)
     Entitas Afiliasi adalah entitas di bawah pengendalian Pemegang Saham yang sama dan/atau memiliki Dewan Komisaris atau Direksi yang sama
     dengan Perusahaan. / *) An affiliated Entity is an entity that is under the control of the same Shareholder and/or has the same members of the Board
     of Commissioners or Board of Directors as the Company.


Adapun informasi terkait sado transaksi Perseroan                                Further information regarding the balances of the
dengan pihak-pihak berelasi telah diungkapkan pada                               Company’s transactions with related parties has been
Laporan Keuangan, Catatan No. 32.                                                disclosed in the Financial Statements, Note No. 32.


Informasi Material Setelah Tanggal                                               Material Information After the Date of
Laporan Keuangan                                                                 Financial Statements
Tidak terdapat kejadian setelah periode pelaporan                                There are no events after the reporting period that
yang memerlukan penyesuaian maupun pengungkapan                                  require adjustment or disclosure in the notes to the
dalam catatan atas laporan keuangan untuk tahun yang                             financial statements for the year ended 31 December
berakhir pada tanggal 31 Desember 2025.                                          2025.


Perubahan    Peraturan Perundang-                                                Regulatory Changes with Significant
Undangan yang Berdampak Signifikan                                               Impact to the Company
terhadap Perusahaan
Pada tahun 2025, tidak terdapat perubahan peraturan                              In 2025, there were no changes in laws and regulations
perundang-undangan yang berdampak signifikan                                     that had a significant impact on the Company.
terhadap Perseroan.




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        Company Summary              Management Report               Company Profile




Perubahan Kebijakan Akuntansi                              Changes in Accounting Policy
Dewan Standar Akuntansi Keuangan Ikatan Akuntan            The Financial Accounting Standards Board of the
Indonesia (DSAK-IAI) telah menerbitkan amendemen           Indonesian Institute of Accountants (DSAK-IAI) has
dan interpretasi yang berlaku efektif mulai 1 Januari      issued amendments and interpretations that are
2025, sebagai berikut.                                     effective as of January 1, 2025, as follows.


1. Pernyataan Standar Akuntansi Keuangan (PSAK)            1. Statement of Financial Accounting Standards (PSAK)
   117: “Kontrak Asuransi;”                                   117: “Insurance Contracts”;
2. Amendemen PSAK 117: “Kontrak Asuransi” terkait          2. Amendments to PSAK 117: “Insurance Contracts”
   penerapan awal PSAK 117 dan PSAK 109 – Informasi           related to the initial application of PSAK 117 and
   Komparatif; serta                                          PSAK 109 – Comparative Information; and
3. Amendemen PSAK 221: “Pengaruh Perubahan Kurs            3. Amendments to PSAK 221: “The Effects of Changes
   Valuta Asing” terkait kondisi ketika suatu mata uang       in Foreign Exchange Rates” related to conditions
   tidak dapat ditukarkan.                                    when a currency is not exchangeable.


Standar-standar tersebut berlaku efektif pada 1 Januari    These standards became effective on January 1, 2025.
2025. Adapun penerapan amendemen dan interpretasi          The adoption of these amendments and interpretations
tersebut tidak mengakibatkan perubahan yang                did not result in significant changes to the Company’s
signifikan terhadap kebijakan akuntansi Perseroan serta    accounting policies and did not have a material impact
tidak memberikan dampak material terhadap laporan          on the financial statements, either for the current period
keuangan, baik pada periode berjalan maupun periode        or prior periods.
sebelumnya.


Prospek Usaha                                              Business Prospects
Berdasarkan strategi dan langkah transformasi yang         Based on the strategies and transformation initiatives
telah dijalankan, prospek usaha Perseroan pada tahun       that have been implemented, the Company’s business
2026 dinilai positif dan berada pada fase penguatan        outlook for 2026 is assessed as positive and positioned
fundamental. Investasi pada aset strategis berupa kapal    within a phase of fundamental strengthening.
dengan spesifikasi khusus, perluasan kegiatan usaha ke     Investments in strategic assets in the form of vessels
layanan pendukung sektor energi dan proyek lepas pantai,   with specialized specifications, the expansion of
serta dukungan pendanaan jangka panjang memberikan         business activities into energy sector support services
landasan bagi peningkatan kapasitas operasional dan        and offshore projects, as well as the availability of long-
potensi pendapatan berbasis kontrak jangka menengah        term financing, provide a solid foundation for enhancing
hingga panjang. Di tengah stabilnya permintaan logistik    operational capacity and generating medium-to long-
laut domestik dan berlanjutnya aktivitas sektor energi     term contract-based revenue potential. Amid stable
dan infrastruktur, Perseroan berada pada posisi yang       domestic maritime logistics demand and the continued
lebih siap untuk menangkap peluang pasar, memperbaiki      activity of the energy and infrastructure sectors, the
kinerja keuangan, serta mendorong pertumbuhan usaha        Company is in a stronger position to capture market
yang lebih berkelanjutan pada tahun 2026.                  opportunities, improve financial performance, and drive
                                                           more sustainable business growth in 2026.




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                  Management Discussion and Analysis                   Corporate governance              Sustainability Report




Perbandingan Target                        dan     Realisasi         Comparison of Targets and Realizations
Tahun 2025 [POJK51-F.2,F.3]                                          for 2025 [POJK51-F.2,F.3]


                                                                                Pencapaian
                                    Target 2025           Realisasi 2025
           Uraian                                                               Achievement             Description
                                    Target 2025          Realization 2025
                                                                                    (%)

Pendapatan                              87.945.000.000      55.163.208.359         62,74                               Revenue

Beban Pokok Pendapatan              (53.321.097.667)      (53.646.763.562)        100,61                       Cost of Revenue

Laba Bruto                              34.623.902.333       1.516.444.797         4,38                             Gross Profit

Laba (rugi) Neto Tahun                                                           (1.923,59)       Net Profit (Loss) for the Year
                                         3.657.677.956    (70.354.944.600)
Berjalan

Jumlah Aset                         394.029.152.272      2.005.243.923.381        508,91                            Total Assets

Jumlah Liabilitas                   239.628.510.675      1.958.334.418.627        817,24                        Total Liabilities

Jumlah Ekuitas                      154.400.641.596         46.909.504.754         30,38                            Total Equity



Proyeksi 2026                                                        2026 Projection


                                                            Proyeksi 2026
                        Uraian                                                                  Description
                                                           2026 Projection

Pendapatan                                                   319.259.100.000                                            Revenue

Beban Pokok Pendapatan                                      (193.443.170.133)                                  Cost of Revenue

Laba Bruto                                                   125.815.929.867                                        Gross Profit

Laba (Rugi) Neto Tahun Berjalan                               26.965.938.843                       Net Profit (Loss) for the Year

Jumlah Aset                                                1.834.548.054.815                                        Total Assets

Jumlah Liabilitas                                            784.253.137.358                                    Total Liabilities

Jumlah Ekuitas                                             1.050.294.917.457                                        Total Equity




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        Tata Kelola
        Perusahaan
        Corporate Governance




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        Company Summary             Management Report                Company Profile




Komitmen Penerapan GCG
GCG Implementation Commitment




Perseroan    berkomitmen    untuk    menerapkan         The Company is committed to consistently and
prinsip Tata Kelola Perusahaan yang Baik (Good          sustainably implementing the principles of Good
Corporate Governance/GCG) secara konsisten dan          Corporate Governance (GCG) across all aspects of
berkelanjutan dalam seluruh aspek pengelolaan           its business management. The implementation
usaha. Penerapan GCG dilakukan dengan                   of GCG is carried out by upholding the principles
mengedepankan prinsip transparansi, akuntabilitas,      of transparency, accountability, responsibility,
tanggung jawab, independensi, dan kewajaran,            independence, and fairness, and by consistently
serta senantiasa mengacu pada ketentuan                 referring to the applicable laws and regulations.
peraturan perundang-undangan yang berlaku.              Through the implementation of GCG, the Company
Melalui penerapan GCG, Perseroan bertujuan untuk        aims to create long-term value, maintain the trust
menciptakan nilai tambah jangka panjang, menjaga        of its stakeholders, and support sustainable and
kepercayaan para pemangku kepentingan, serta            integrity-driven business growth.
mendukung pertumbuhan usaha yang berkelanjutan
dan berintegritas.


Struktur GCG                                            GCG Structure
Perseroan menyusun dan menerapkan kerangka              The Company has established and implemented a GCG
GCG sebagai acuan bagi setiap organ perusahaan          framework as a reference for each corporate organ to
agar dapat menjalankan fungsi dan tanggung              perform its functions and responsibilities effectively,
jawabnya secara efektif, terkoordinasi, dan sesuai      in a coordinated manner, and in accordance with
dengan prinsip GCG. Struktur GCG Perseroan disusun      GCG principles. The Company’s GCG structure is
berdasarkan Undang-Undang No. 40 Tahun 2007             formulated based on Law No. 40 of 2007 concerning
tentang Perseroan Terbatas, yang meliputi Rapat         Limited Liability Companies, and comprises the
Umum Pemegang Saham (RUPS), Dewan Komisaris,            General Meeting of Shareholders (GMS), the Board of
Komite Audit, Direksi, Sekretaris Perusahaan, dan       Commissioners, the Audit Committee, the Board of
Unit Audit Internal, guna menciptakan keseimbangan      Directors, the Corporate Secretary, and the Internal
antara fungsi pengawasan dan pengambilan                Audit Unit. This structure is designed to create a
keputusan serta meningkatkan akuntabilitas dalam        balance between supervisory and decision-making
seluruh kegiatan operasional Perseroan.                 functions, while enhancing accountability across all
                                                        of the Company’s operational activities.




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                  Management Discussion and Analysis                  Corporate governance                 Sustainability Report




  Prinsip GCG                                                       GCG Principles
  Dalam menjalankan kegiatan usahanya, Perseroan                    In conducting its business activities, the Company is
  berkomitmen untuk menerapkan prinsip-prinsip                      committed to continuously implementing the principles
  GCG secara berkesinambungan melalui kebijakan                     of Good Corporate Governance through policies
  dan praktik operasional yang selaras dengan prinsip               and operational practices that are aligned with the
  governansi yang ditetapkan dalam Pedoman Umum                     governance principles set out in the Pedoman Umum
  Governansi Korporat Indonesia (PUGKI), sebagaimana                Governansi Korporat Indonesia (PUGKI), as outlined
  diuraikan berikut.                                                below.




  Perilaku Beretika
  Ethical Behavior                                                                                                   01
   Perseroan senantiasa mengedepankan kejujuran, memperlakukan semua pihak dengan hormat (respect), memenuhi
   komitmen, membangun serta menjaga nilai-nilai moral dan kepercayaan secara konsisten. Perseroan juga memperhatikan
   kepentingan Pemegang Saham dan pemangku kepentingan lainnya berdasarkan asas kewajaran dan kesetaraan (fairness)
   dan dikelola secara independen sehingga masing-masing organ Perseroan tidak saling mendominasi dan tidak dapat
   diintervensi oleh pihak lainnya.
   The Company always prioritizes honesty, treats all parties with respect, fulfills commitments, builds and maintains moral
   values and beliefs consistently. The Company also pays attention to the interests of Shareholders and other stakeholders
   based on the principles of fairness and is managed independently so that each organ of the Company does not dominate
   each other and cannot be
   intervened by other parties.

   Akuntabilitas
   Accountability                                                                                                   02
   Perseroan dapat mempertanggungjawabkan kinerjanya secara transparan dan wajar. Untuk itu,
   Perseroan harus dikelola dengan benar, terukur, dan sesuai dengan kepentingan korporat dengan tetap
   mempertimbangkan kepentingan Pemegang Saham dan pemangku kepentingan. Akuntabilitas merupakan
   prasyarat yang diperlukan untuk mencapai kinerja yang berkelanjutan.
   The Company can account for its performance transparently and fairly. For this reason, the Company must be
   managed correctly, measurably, and in accordance with corporate interests while considering the interests
   of Shareholders andstakeholders. Accountability is a necessary prerequisite for achieving sustainable
   performance.

  Transparansi
  Transparency                                                                                                      03
   Dalam upaya menjaga obyektivitas dalam menjalankan bisnis, Perseroan menyediakan informasi yang material dan
   relevan dengan cara yang mudah diakses dan dipahami oleh pemangku kepentingan. Perseroan mengambil inisiatif untuk
   mengungkapkan tidak hanya masalah yang diisyaratkan oleh peraturan perundang-undangan, tetapi juga hal yang penting
   untuk pengambilan keputusan oleh Pemegang Saham, kreditur, dan pemangku kepentingan lainnya.
   To maintain objectivity in conducting business, the Company provides material and relevant information in a way that is
   easily accessible and understood by stakeholders. The Company takes the initiative to disclose not only issues hinted
   by laws and regulations, but also matters that are important for decision making by Shareholders, creditors, and other
   stakeholders.

  Keberlanjutan
  Sustainability                                                                                                    04
   Perseroan mematuhi peraturan perundang-undangan dan berkomitmen melaksanakan tanggung jawab
   terhadap masyarakat dan lingkungan, agar berkontribusi pada pembangunan berkelanjutan melalui kerja
   sama dengan semua pemangku kepentingan terkait untuk meningkatkan kehidupan yang selaras dengan
   kepentingan bisnis dan agenda pembangunan berkelanjutan.
   The Company complies with laws and regulations and is committed to carrying out its responsibility towards
   society and the environment, in order to contribute to sustainable development through cooperation with all
   relevant stakeholders to improve lives in line with business interests and the sustainable development agenda.




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        Company Summary                      Management Report                         Company Profile




Rapat Umum Pemegang Saham                                                   General Meeting of Shareholders
Rapat Umum Pemegang Saham (RUPS) merupakan                                  The General Meeting of Shareholders (GMS) represents
otoritas tertinggi dalam tata kelola perusahaan, yang                       the highest authority in the Company’s corporate
menjadi wadah bagi Pemegang Saham untuk menilai                             governance structure, serving as a forum for Shareholders
kinerja organ perusahaan serta menetapkan keputusan                         to evaluate the performance of the Company’s organs
strategis terkait arah pengelolaan dan perkembangan                         and to make strategic decisions regarding the direction
Perseroan. RUPS Tahunan wajib dilaksanakan selambat-                        of management and the Company’s development.
lambatnya 6 bulan setelah tahun buku berakhir,                              The Annual GMS must be convened no later than six
sedangkan RUPS Luar Biasa dapat diselenggarakan                             months after the end of the financial year, while an
sewaktu-waktu sesuai kebutuhan Perseroan.                                   Extraordinary GMS may be held at any time as required
                                                                            by the Company.


Pelaksanaan RUPS 2025                                                       2025 GMS Implementation
Pada tahun 2025, Perseroan melaksanakan RUPS                                In 2025, the Company held an Annual GMS and 2
Tahunan dan 2 kali RUPS Luar Biasa di Four Points                           Extraordinary General Meetings of Shareholders GMS,
by Sheraton Jakarta, Jl. M.H. Thamrin, Gondangdia,                          which took place at Four Points by Sheraton Jakarta,
Menteng, Jakarta Pusat, DKI Jakarta, dengan tahapan                         Jalan M.H. Thamrin, Gondangdia, Menteng, Central
sebagai berikut.                                                            Jakarta, DKI Jakarta, with the following stages.


                                                                                           RUPS Luar Biasa               RUPS Luar Biasa
                                                             RUPS Tahunan
Tahapan                                                                                    27 Oktober 2025              18 Desember 2025
                                                              26 Juni 2025
Stage                                                                                     Extraordinary GMS 27          Extraordinary GMS 18
                                                         Annual GMS 26 June 2025
                                                                                              October 2025                 December 2025

Pengumuman
                                                               20 May 2025                   19 August 2025               10 November 2025
Announcement
Pemanggilan
                                                               4 June 2025                 3 September 2025               25 November 2025
Notice
Penundaan
                                                                       -                   24 September 2025                       -
Postponement
Pemanggilan Kembali
                                                                       -                     3 October 2025                        -
Re-convening
Tanggal Pelaksanaan
                                                               26 June 2025                 27 October 2025               18 December 2025
Implementation
Pengumuman Hasil RUPS
                                                                  1 July 2025               29 October 2025               22 December 2025
Announcement of GMS Resolutions



Kehadiran RUPS Tahunan dan RUPS Luar Biasa                                  Attendance of the Annual GMS and Extraordinary GMS


       Uraian                 RUPS Tahunan 26 Juni 2025             RUPS Luar Biasa 27 Oktober 2025        RUPS Luar Biasa 18 Desember 2025
     Description               Annual GMS 26 June 2025              Extraordinary GMS 27 October 2025      Extraordinary GMS 18 December 2025
 Kehadiran Pemegang      Pemegang Saham yang mewakili              Pemegang Saham yang mewakili            Pemegang Saham yang mewakili
       Saham             346.009.800 saham atau setara dengan      3.297.179.462 saham atau setara         3.519.946.375 saham atau setara
    Attendance of        76,25%. / Shareholders representing       dengan 72,66%. / Shareholders           dengan 77,56%. / Shareholders
    Shareholders         346,009,800 shares, or equivalent to      representing 3,297,179,462 shares, or   representing 3,519,946,375 shares, or
                         76.25%.                                   equivalent to 72.66%.                   equivalent to 77.56%.
  Kehadiran Dewan        Seluruh anggota Dewan Komisaris           Seluruh anggota Dewan Komisaris         Seluruh anggota Dewan Komisaris
      Komisaris          menghadiri RUPS Tahunan./ All             menghadiri RUPS Luar Biasa. / All       menghadiri RUPS Luar Biasa. / All
  Attendance of the      members of the Board of Commissioners     members of the Board of Commissioners   members of the Board of Commissioners
Board of Commissioners   attended the Annual GMS.                  attended the Extraordinary GMS.         attended the Extraordinary GMS.
                         Seluruh anggota Direksi menghadiri        Seluruh anggota Direksi menghadiri      Seluruh anggota Direksi menghadiri
  Kehadiran Direksi
                         RUPS Tahunan. / All members of the        RUPS Luar Biasa. / All members of       RUPS Luar Biasa. / All members of
  Attendance of the
                         Board of Directors attended the Annual    the Board of Directors attended the     the Board of Directors attended the
  Board of Directors
                         GMS.                                      Extraordinary GMS.                      Extraordinary GMS.
                         RUPS Tahunan dan RUPS Luar Biasa dihadiri oleh Notaris Dr. Sugih Haryati, SH, MKn serta Biro Administrasi Efek, yaitu PT
   Pihak Independen
                         Adimitra Jasa Korpora. / The Annual GMS and the Extraordinary GMS were attended by Notary Dr. Sugih Haryati, S.H., M.Kn.,
  Independent Party
                         as well as the Share Administration Bureau, namely PT Adimitra Jasa Korpora.




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                  Management Discussion and Analysis           Corporate governance               Sustainability Report




Agenda RUPS Tahunan dan RUPS Luar Biasa                      Agenda of the Annual GMS and the Extraordinary GMS


RUPS Tahunan 26 Juni 2025                                    Annual GMS June 26, 2025
1. Persetujuan Laporan             Tahunan   dan   Laporan   1. Approval of the Annual Report and the Annual
   Keuangan Tahunan.                                            Financial Statements.
2. Persetujuan penggunaan laba bersih.                       2. Approval of the appropriation of net profit.
3. Persetujuan penunjukkan akuntan publik dan/atau           3. Approval of the appointment of a public accountant
   kantor akuntan publik.                                       and/or a public accounting firm.
4. Persetujuan pengangkatan             kembali/perubahan    4. Approval of the reappointment and/or changes in
   susunan Dewan Komisaris.                                     the composition of the Board of Commissioners.
5. Penetapan remunerasi (gaji/honorarium, fasilitas,         5. Determination of remuneration (salaries/honoraria,
   dan tunjangan) untuk anggota Dewan Komisaris dan             facilities, and allowances) for members of the Board
   Direksi tahun buku 2025.                                     of Commissioners and the Board of Directors for the
                                                                2025 financial year.


RUPS Luar Biasa 27 Oktober 2025                              Extraordinary GMS October 27, 2025
1. Persetujuan Rencana Transaksi Material di atas 50%        1. Approval of a proposed Material Transaction plan
   (Transaksi Material).                                        exceeding 50% (Material Transaction).
2. Persetujuan atas rencana penerbitan promissory            2. Approval of the proposed issuance of a promissory
   note kepada pihak ketiga yang merupakan suatu                note to a third party, constituting a Material
   Transaksi Material sebagaimana dimaksud dalam                Transaction as referred to in Regulation of the
   Peraturan Otoritas Jasa Keuangan No. 17/2020,                Otoritas Jasa Keuangan No. 17/2020, in connection
   sehubungan dengan mekanisme pembayaran                       with the payment mechanism for a portion of the
   sebagian dari harga pembelian armada sebagaimana             purchase price of the fleet as referred to in the first
   dimaksud pada mata acara pertama RUPS Luar Biasa             agenda item of this Extraordinary General Meeting
   ini.                                                         of Shareholders.
3. Persetujuan atas rencana penambahan kegiatan              3. Approval of the proposed addition of the Company’s
   usaha Perseroan yang merupakan perubahan                     business activities, constituting a change in business
   kegiatan usaha sebagaimana dimaksud dalam                    activities as referred to in Regulation of the Financial
   Peraturan Otoritas Jasa Keuangan No. 17/2020                 Services Authority No. 17/2020, including the
   termasuk perubahan Pasal 3 Anggaran Dasar                    amendment of Article 3 of the Company’s Articles of
   Perseroan dan Penambahan Studi Kelayakan                     Association and the addition of a Business Feasibility
   Kegiatan Usaha.                                              Study.


RUPS Luar Biasa 18 Desember 2025                             Extraordinary GMS December 18, 2025
1. Persetujuan Rencana Penambahan Modal dengan               1. Approval of the proposed Capital Increase with Pre-
   Hak Memesan Efek Terlebih Dahulu (PMHMETD).                  emptive Rights (Rights Issue).
2. Persetujuan atas perubahan Pasal 4 ayat 1 Anggaran        2. Approval of the amendment to Article 4 paragraph
   Dasar Perseroan terkait dengan peningkatan                   (1) of the Company’s Articles of Association relating
   modal dasar sehubungan dengan dilaksanakannya                to the increase in authorized capital in connection
   PMHMETD.                                                     with the implementation of the Rights Issue.
3. Persetujuan untuk menjadikan jaminan utang                3. Approval to encumber the Company’s assets as
   kekayaan Perseroan yang jumlahnya lebih dari 50%             collateral for debt amounting to more than 50% of
   dari jumlah kekayaan bersih Perseroan.                       the Company’s net assets.




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         Company Summary                      Management Report                       Company Profile




Keputusan dan Realisasi RUPS Tahunan 26 Juni 2025                          Resolutions and Implementation of the Annual GMS
                                                                           June 26, 2025


                                                  Hasil Keputusan                                                              Realisasi
                                                    Resolutions                                                               Realization

                                                                  Agenda 1

1.   Laporan Tahunan Direksi Perseroan untuk tahun buku 2024;                                                             Telah direalisasikan.
2.   Laporan Pengawasan Tahunan Dewan Komisaris Perseroan untuk tahun buku 2024                                                Realized.
3.   Laporan Pelaksanaan Tata Kelola Perusahaan (GCG) untuk tahun buku 2024;
4.   Pengesahan Laporan Keuangan Perseroan untuk tahun buku 2024 yang telah diaudit oleh Kantor Kanaka Pu-
     radiredja, Suhartono dengan opini wajar, dalam laporannya No. 00119/2.0752/AU.1/05/1014-2/1/III/2025 ter-
     tanggal 26 Maret 2025; serta
5.   Memberikan pelunasan dan pembebasan tanggung jawab (volledig acquit et decharge) kepada seluruh anggota
     Dewan Komisaris dan Direksi Perseroan atas tindakan pengurusan dan pengawasan yang telah mereka jalankan
     selama tahun buku 2024 sejauh tindakan kepengurusan dan pengawasan tersebut tercermin dalam Laporan
     Tahunan dan Laporan Keuangan Perseroan untuk tahun buku 2024 tersebut dan memenuhi peraturan perun-
     dang-undangan yang berlaku.
1.   The Annual Report of the Company’s Board of Directors for the 2024 financial year;
2.   The Annual Supervisory Report of the Company’s Board of Commissioners for the 2024 financial year;
3.   The Report on the Implementation of Good Corporate Governance (GCG) for the 2024 financial year;
4.   Approval of the Company’s Financial Statements for the 2024 financial year, which were audited by Kantor
     Akuntan Publik Kanaka Puradiredja, Suhartono and received an unmodified opinion, as stated in its report No.
     00119/2.0752/AU.1/05/1014-2/1/III/2025 dated March 26, 2025; and
5.   Granting full release and discharge (volledig acquit et decharge) to all members of the Company’s Board of
     Commissioners and Board of Directors for their management and supervisory actions performed during the
     2024 financial year, insofar as such actions are reflected in the Company’s Annual Report and Financial State-
     ments for the 2024 financial year and are in compliance with the prevailing laws and regulations.

                                                                  Agenda 2

1.   Rugi bersih Perseroan untuk tahun buku 2024 adalah sebesar Rp51.571.135.789;                                         Telah direalisasikan.
2.   Perseroan tidak menyisihkan dan/atau membukukan dana cadangan wajib, dikarenakan Perseroan masih mem-                     Realized.
     bukukan akumulasi defisit sebesar Rp55.794.974.511 sampai dengan tahun buku 2024; dan
3.   Pada tahun buku berjalan, Perseroan mencatatkan rugi bersih, sehingga tidak dapat membagikan dividen kepa-
     da para Pemegang Saham. Hal ini sejalan dengan ketentuan dalam Anggaran Dasar Perseroan, Prospektus Per-
     seroan, dan peraturan perundang-undangan yang berlaku, di mana pembagian dividen hanya dapat dilakukan
     apabila Perseroan memiliki laba ditahan yang positif.
1.   The Company recorded a net loss for the 2024 financial year amounting to Rp51,571,135,789;
2.   The Company did not set aside and/or record a mandatory statutory reserve, as the Company continued to
     record an accumulated deficit of Rp55,794,974,511 as of the end of the 2024 financial year; and
3.   During the current financial year, the Company recorded a net loss and therefore was unable to distribute divi-
     dends to its Shareholders. This is in accordance with the provisions of the Company’s Articles of Association, the
     Company’s Prospectus, and the applicable laws and regulations, under which dividends may only be distributed
     if the Company has a positive retained earnings balance.

                                                                  Agenda 3

1.   Memberikan wewenang kepada Direksi Perseroan untuk menunjuk kantor akuntan publik independen yang akan               Telah direalisasikan.
     melakukan audit atas buku-buku Perseroan untuk tahun buku yang akan berakhir pada tanggal 31 Desember                     Realized.
     2025 dan menetapkan honorarium dan persyaratan-persyaratan lain penunjukan akuntan publik tersebut; dan
2.   Memberikan kuasa dan wewenang kepada Dewan Komisaris untuk menunjuk kantor akuntan publik pengganti
     bila mana kantor akuntan publik tersebut tidak dapat melaksanakan tugas auditnya sesuai dengan standar
     akuntansi dan ketentuan perundangan yang berlaku, termasuk peraturan di bidang pasar modal dan Peraturan
     Bapepam dan Lembaga Keuangan dan/atau Peraturan Otoritas Jasa Keuangan.
1.   Granting authority to the Company’s Board of Directors to appoint an independent public accounting firm to
     audit the Company’s books for the financial year ending December 31, 2025, and to determine the audit fees
     and other terms and conditions of such appointment; and
2.   Granting power and authority to the Board of Commissioners to appoint a substitute public accounting firm
     should the appointed firm be unable to perform its audit duties in accordance with applicable accounting stan-
     dards and prevailing laws and regulations, including capital market regulations and the regulations of the Fi-
     nancial Services Authority.




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                  Management Discussion and Analysis                          Corporate governance                     Sustainability Report




                                                  Hasil Keputusan                                                               Realisasi
                                                    Resolutions                                                                Realization

                                                                   Agenda 4

1.   Pengunduran diri Bapak Rivolinggo Pamudji sebagai Komisaris Independen Perseroan, terhitung efektif sejak             Telah direalisasikan.
     penutupan Rapat ini.                                                                                                       Realized.
2.   Pengunduran diri Bapak George Samuel sebagai Komisaris Independen Perseroan, terhitung efektif sejak
     penutupan Rapat ini.
3.   Pengangkatan Bapak H.R. Agung Laksono sebagai Komisaris Independen Perseroan terhitung efektif sejak
     penutupan rapat ini.
4.   Pengangkatan kembali anggota Dewan Komisaris dan Direksi Perseroan yang tidak mengalami perubahan
     untuk masa jabatan terhitung efektif sejak penutupan Rapat ini sampai dengan RUPS Tahunan 2029.
5.   Menyetujui susunan pengurus Perseroan setelah penutupan rapat ini menjadi sebagai berikut.
     Dewan Komisaris
     Komisaris Utama		             : Suganto Gunawan
     Komisaris		                   : Suwito
     Komisaris Independen          : H.R. Agung Laksono
     Direksi
     Direktur Utama		              : Suminto Husin Giman
     Direktur		                    : Amanda Octania
6.   Memberi kuasa kepada Direksi Perseroan untuk menyatakan keputusan ini dalam suatu Akta Notaris, dan untuk
     itu dikuasakan menghadap Notaris, menandatangani akta, dokumen atau surat-surat, serta melakukan segala
     sesuatu yang diperlukan untuk tercapainya maksud tersebut di atas tanpa ada yang dikecualikan sekaligus
     memberitahukan perubahan ini kepada instansi yang berwenang.
1.   The resignation of Rivolinggo Pamudji as the Company’s Independent Commissioner, effective as of the closing
     of this Meeting.
2.   The resignation of George Samuel as the Company’s Independent Commissioner, effective as of the closing of
     this Meeting.
3.   The appointment of H.R. Agung Laksono as the Company’s Independent Commissioner, effective as of the
     closing of this Meeting.
4.   The reappointment of the members of the Company’s Board of Commissioners and Board of Directors whose
     composition remains unchanged, for a term of office effective as of the closing of this Meeting until the Annual
     General Meeting of Shareholders in 2029.
5.   Approval of the composition of the Company’s management following the closing of this Meeting as follows:
     Board of Commissioners
     President Commissioner		                 : Suganto Gunawan
     Commissioner 			                         : Suwito
     Independent Commissioner                 : H.R. Agung Laksono
     Board of Directors
     President Director 		                    : Suminto Husin Giman
     Director			                              : Amanda Octania
6.   Granting power and authority to the Company’s Board of Directors to state these resolutions in a Notarial
     Deed, and for such purpose to appear before a Notary, sign deeds, documents, or letters, and take all actions
     necessary to fully implement the above resolutions without exception, including notifying the relevant
     authorized institutions of such changes.

                                                                   Agenda 5

Menyetujui:                                                                                                                Telah direalisasikan.
1. Untuk tidak melakukan perubahan atas nilai remunerasi, gaji/honorarium, fasilitas, dan tunjangan bagi masing-mas-            Realized.
    ing anggota Dewan Komisaris dan Direksi untuk tahun buku 2025, dengan mempertimbangkan hasil penelaahan
    Laporan Keuangan Perseroan tahun buku 2024 serta rekomendasi dari Fungsi Nominasi dan Remunerasi Perseroan.
2. Untuk menyetujui pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk menetapkan jumlah gaji, tun-
    jangan hari raya, tunjangan lain bagi masing-masing anggota Direksi Perseroan untuk tahun buku 2025 (apabila
    terdapat perubahan) dengan memperhatikan rekomendasi Fungsi Remunerasi dan Nominasi Perseroan.
3. Untuk menyetujui jumlah tantiem/bonus untuk tahun buku 2024 yang dibayarkan pada tahun 2025 dan memberikan
    kuasa kepada Dewan Komisaris Perseroan untuk menetapkan jumlah tantiem/bonus masing-masing anggota Direksi
    Perseroan dengan memperhatikan rekomendasi Fungsi Remunerasi dan Nominasi Perseroan.
Resolved to approve:
1. Not to make any changes to the remuneration, salaries/honoraria, facilities, and allowances for each member of the
    Board of Commissioners and the Board of Directors for the 2025 financial year, taking into consideration the results
    of the review of the Company’s Financial Statements for the 2024 financial year as well as the recommendations of
    the Company’s Nomination and Remuneration Function.
2. To approve the delegation of authority to the Company’s Board of Commissioners to determine the number of sal-
    aries, religious holiday allowances, and other allowances for each member of the Company’s Board of Directors for
    the 2025 financial year (if any changes occur), with due consideration to the recommendations of the Company’s
    Nomination and Remuneration Function.
3. To approve the number of tantiem/bonuses for the 2024 financial year to be paid in 2025, and to grant authority
    to the Company’s Board of Commissioners to determine the number of tantiem/bonuses for each member of the
    Company’s Board of Directors, taking into account the recommendations of the Company’s Nomination and Remu-
    neration Function.



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         Company Summary                     Management Report                       Company Profile




Keputusan dan Realisasi RUPS Luar Biasa 27 Oktober                       Resolutions and Implementation of the Extraordinary
2025                                                                     GMS October 27, 2025


                                                  Hasil Keputusan                                                             Realisasi
                                                    Resolutions                                                              Realization

                                                                 Agenda 1

1.   Menyetujui rencana pembelian dan/atau akuisisi 1 unit Kapal Pipe Laying & Lifting Vessel bernama Hai Long          Telah direalisasikan.
     106 dari Hilong Shipping Holding Limited, serta memberikan kuasa kepada Direksi untuk menyelesaikan seluruh             Realized.
     hal yang diperlukan terkait transaksi tersebut sesuai ketentuan hukum yang berlaku;
2.   Menyetujui bahwa sumber pendanaan atas transaksi tersebut dapat berasal dari kas internal Perseroan dan/
     atau pinjaman dari pihak ketiga, termasuk perbankan, dengan memperhatikan ketentuan Anggaran Dasar dan
     peraturan perundang-undangan yang berlaku;
3.   Menerima pembahasan atas Laporan Penilaian Aset yang dibuat oleh Kantor Jasa Penilai Publik Sapto,
     Kasmodiard & Rekan (KJPP SKR) melalui Laporan No. 01553/2.0084-00/PP/06/0274/1/IX/2025 tertanggal 22
     September 2025; dan
4.   Menerima pembahasan atas Laporan Pendapat Kewajaran (Fairness Opinion) yang dibuat oleh KJPP Kusanto &
     Rekan melalui Laporan No. 00150/2.0162-00/BS/05/0153/1/X/2025 tanggal 13 Oktober 2025.
1.   Approval of the proposed purchase and/or acquisition of one (1) Pipe Laying & Lifting Vessel named Hai Long
     106 from Hilong Shipping Holding Limited, and granting authority to the Board of Directors to complete all
     matters necessary in connection with the transaction in accordance with the applicable laws and regulations.
2.   Approval that the funding sources for the transaction may be derived from the Company’s internal cash and/
     or loans from third parties, including banks, with due regard to the provisions of the Company’s Articles of
     Association and the prevailing laws and regulations.
3.   Acknowledgement of the discussion of the Asset Valuation Report prepared by Kantor Jasa Penilai Publik
     Sapto, Kasmodiard & Rekan (KJPP SKR) through Report No. 01553/2.0084-00/PP/06/0274/1/IX/2025 dated
     September 22, 2025.
4.   Acknowledgement of the discussion of the Fairness Opinion Report prepared by KJPP Kusanto & Rekan through
     Report No. 00150/2.0162-00/BS/05/0153/1/X/2025 dated October 13, 2025.

                                                                 Agenda 2

1.    Menyetujui rencana penerbitan promissory note kepada pihak ketiga yang merupakan suatu transaksi material         Telah direalisasikan.
      sebagaimana yang dimaksud dalam Peraturan Otoritas Jasa Keuangan No. 17/2020, sehubungan dengan                        Realized.
      mekanisme pembayaran sebagian dari harga pembelian armada; dan
2.    Memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk melakukan segala
      tindakan yang diperlukan sehubungan dengan keputusan penerbitan promissory note kepada pihak ketiga,
      tanpa ada dikecualikan sesuai dengan peraturan perundang-undangan yang berlaku.
1.    Approval of the proposed issuance of a promissory note to a third party, constituting a material transaction as
      referred to in Financial Services Authority Regulation No. 17/2020, in connection with the payment mechanism
      for a portion of the purchase price of the fleet; and
2.    Granting power and authority to the Company’s Board of Directors, with the right of substitution, to undertake
      all actions necessary in relation to the issuance of the promissory note to the third party, without exception,
      in accordance with the applicable laws and regulations.

                                                                 Agenda 3

1.   Menerima pembahasan atas Laporan Studi Kelayakan atas Rencana Penambahan Kegiatan Usaha Perseroan                  Telah direalisasikan.
     yang dibuat oleh Kantor Jasa Penilai Publik Kusnanto & Rekan (KJPP KR) No. 00125/2.0162-00/BS/05/0153/1/                Realized.
     IX/2025 tanggal 11 September 2025.
2.   Menyetujui perubahan Pasal 3 Anggaran Dasar Perseroan mengenai Maksud dan Tujuan Serta Kegiatan Usaha
     melalui penambahan kegiatan usaha Perseroan, yaitu di bidang angkutan laut luar negeri untuk barang umum
     (KBLI 50141) dan aktivitas penunjang perairan lainnya (KBLI 52229).
3.   Memberikan wewenang dan kuasa kepada Direksi Perseroan, dengan hak substitusi untuk melakukan tindakan
     yang diperlukan sehubungan dengan keputusan penambahan kegiataan usaha Perseroan, tanpa ada yang
     dikecualikan sesuai dengan peraturan perundangan-undangan yang berlaku.
1.   Acknowledgement of the discussion of the Feasibility Study Report on the proposed addition of the Company’s
     business activities, prepared by Kantor Jasa Penilai Publik Kusnanto & Rekan (KJPP KR) No. 00125/2.0162-00/
     BS/05/0153/1/IX/2025 dated September 11, 2025.
2.   Approval of the amendment to Article 3 of the Company’s Articles of Association concerning the Company’s
     Purpose and Objectives as well as Business Activities, through the addition of new business activities, namely
     overseas sea transportation for general cargo (KBLI 50141) and other supporting water transportation activities
     (KBLI 52229).
3.   Granting power and authority to the Company’s Board of Directors, with the right of substitution, to undertake
     all actions necessary in relation to the decision on the addition of the Company’s business activities, without
     exception, in accordance with the applicable laws and regulations.




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                  Management Discussion and Analysis                        Corporate governance                   Sustainability Report




Keputusan dan Realisasi RUPS Luar Biasa 18 Desember                      Resolutions and Implementation of the Extraordinary
2025                                                                     December 18, 2025



                                                  Hasil Keputusan                                                           Realisasi
                                                    Resolutions                                                            Realization

                                                                 Agenda 1

1.  Menyetujui rencana penerbitan saham baru melalui penambahan modal dengan Memberikan Hak Memesan                       Pelaksanaan
    Efek Terlebih Dahulu (MHMETD) dengan jumlah sebanyak-banyaknya 48.000.000.000 lembar saham dengan                    Penambahan
    nilai nominal Rp25 per saham;                                                                                       Modal dengan
2. Memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk melakukan seluruh                  Hak Memesan
    tindakan yang diperlukan sehubungan dengan pelaksanaan MHMETD, dengan memperhatikan ketentuan                        Efek Terlebih
    peraturan perundangan-undangan yang berlaku, yang terdiri atas:                                                    Dahulu (HMETD)
3. Menentukan kepastian jumlah saham yang akan diterbitkan oleh Perseroan sehubungan dengan rencana direncanakan akan
    MHMETD;                                                                                                           dilaksanakan pada
4. Menentukan harga pelaksanaan MHMETD dengan melalui persetujuan Dewan Komisaris;                                     semester I tahun
5. Menentukan tanggal Daftar Pemegang Saham yang berhak atas Hak Memesan Efek Terlebih Dahulu;                                2026.
6. Menentukan rasio antara jumlah saham yang telah dikeluarkan dengan MHMETD yang telah diperoleh
    Pemegang Saham;                                                                                                  The implementation
7. Menentukan penggunaan dana hasil MHMETD;                                                                              of the Capital
8. Menentukan jadwal atau membuat timeline sehubungan dengan pelaksanaan MHMETD;                                         Increase with
9. Menandatangani seluruh dokumen yang diperlukan sehubungan dengan pelaksanaan MHMETD, termasuk Pre-emptive Rights
    dan tidak terbatas pada dokumen akta/perjanjian yang dibuat di hadapan Notaris beserta perubahan atau (HMETD) is planned
    turunannya;                                                                                                       to be carried out in
10. Mengajukan pernyataan pendaftaran MHMETD kepada Otoritas Jasa Keuangan;                                          the first half of 2026.
11. Menentukan ada/tidaknya pembeli siaga (standby buyer);
12. Menitipkan saham Perseroan dalam Kostudian Sentral Efek Indonesia (KSEI);
13. Mencatatkan seluruh saham baru dalam PMHMETD di Bursa Efek Indonesia; serta
14. Melakukan seluruh tindakan hukum yang berlaku sehubungan dengan rencana MHMETD selama tidak
    bertentangan dengan Anggaran Dasar Perseran dan ketentuan peraturan perundang-undangan yang berlaku.
1. Approval of the plan to issue new shares through a capital increase with Pre-emptive Rights (rights issue), for a
    maximum of 48,000,000,000 shares with a nominal value of Rp25 per share.
2. Granting power and authority to the Company’s Board of Directors, with the right of substitution, to undertake
    all actions necessary in connection with the implementation of the Rights Issue, with due observance of the
    applicable laws and regulations, including the authority to:
3. Determine the final number of shares to be issued by the Company in connection with the Rights Issue;
4. Determine the exercise price of the Rights Issue, subject to the approval of the Board of Commissioners;
5. Determine the record date of Shareholders entitled to the Pre-emptive Rights;
6. Determine the ratio between the number of issued shares and the Pre-emptive Rights received by Shareholders;
7. Determine the use of proceeds from the Rights Issue;
8. Determine the schedule or establish a timeline for the implementation of the Rights Issue;
9. Sign all documents required in connection with the implementation of the Rights Issue, including but not
    limited to deeds and/or agreements executed before a Notary, together with any amendments or derivatives
    thereof;
10. Submit the Rights Issue registration statement to the Financial Services Authority;
11. Determine the existence or absence of a standby buyer;
12. Deposit the Company’s shares with the Indonesian Central Securities Depository (KSEI);
13. List all new shares issued in connection with the Rights Issue on the Indonesia Stock Exchange; and
14. Take all other lawful actions required in connection with the Rights Issue, provided that such actions do not
    conflict with the Company’s Articles of Association and the prevailing laws and regulations.

                                                                 Agenda 2

1.   Menyetujui perubahan Anggaran Dasar Perseroan dalam Pasal 4 ayat (1) mengenai peningkatan modal               Pelaksanaan
     dasar sebagai bagian integral dari rencana mekanisme MHMETD yang akan dilakukan oleh Perseroan setelah Perubahan Anggaran
     mendapat pernyataan efektif dari Otoritas Jasa Keuangan; dan                                              Dasar direncanakan
2.   Memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk melakukan segala       akan dilaksanakan
     tindakan yang berkaitan dengan keputusan Rapat, termasuk untuk menentukan besarnya modal dasar yang         pada semester I
     ditingkatkan dan tidak terbatas untuk menghadap instansi, pejabat-atau pihak yang berwenang, memberikan       tahun 2026.
     atau meminta untuk diberikan keterangan, mengajukan permohonan persetujuan sehubungan dengan
     perubahan Anggaran Dasar Perseroan kepada Kementerian Hukum Republik Indonesia ataupun instansi terkait, The implementation
     membuat atau menandatangani akta-akta atau dokumen lain yang diperlukan, hadir untuk menghadap notaris of the amendment
     untuk dibuatkan dan menandatangani Akta Pernyataan Keputusan Rapat Perseroan, dan melakukan segala           to the Articles
     tindakan hukum sehubungan dengan peningkatan modal, selama hal tersebut tidak bertentangan dengan           of Association is
     Anggaran Dasar dan ketentuan yang berlaku.                                                               planned to be carried
                                                                                                              out in the first half of
                                                                                                                       2026.




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                                                    Hasil Keputusan                                                              Realisasi
                                                      Resolutions                                                               Realization

1.   Approval of the amendment to Article 4 paragraph (1) of the Company’s Articles of Association concerning the          Telah direalisasikan.
     increase in authorized capital, as an integral part of the planned Rights Issue mechanism to be implemented by             Realized.
     the Company after obtaining an effective statement from the Financial Services Authority; and
2.   Granting power and authority to the Company’s Board of Directors, with the right of substitution, to undertake
     all actions related to the resolutions of the Meeting, including determining the increased amount of authorized
     capital, and without limitation to appear before relevant authorities, officials, or competent parties, to provide
     or request information, to submit applications for approval in connection with the amendment to the Company’s
     Articles of Association to the Ministry of Law of the Republic of Indonesia and/or other relevant authorities, to
     prepare or sign deeds or other required documents, to appear before a Notary for the execution and signing of
     the Deed of Statement of the Company’s Meeting Resolutions, and to undertake all legal actions related to the
     capital increase, provided that such actions do not conflict with the Company’s Articles of Association and the
     prevailing laws and regulations.

                                                                   Agenda 3

1.   Menyetujui untuk menjadikan kekayaan Perseroan sebagai jaminan utang dengan nilai lebih dari 50% dari                 Telah direalisasikan.
     jumlah kekayaan bersih Perseroan, baik dalam satu transaksi maupun beberapa transaksi yang saling berkaitan                Realized.
     ataupun tidak, kepada pihak perbankan, pihak ketiga, dan/atau lembaga keuangan lainnya atas fasilitas
     pembiayaan yang telah diberikan maupun yang akan diberikan di kemudian hari kepada Perseroan, dengan aset
     yang akan dijaminkan berupa tagihan yang timbul dari kontrak sewa Kapal Hai Long 106 serta 1 unit Offshore
     Support Vessel jenis Pipe Laying and Lifting Vessel atas nama Hai Long 106; dan
2.   Memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk menghadap pejabat,
     instansi atau pihak-pihak yang berwenang, menandatangani segala surat-surat, Perjanjian-perjanjian, akta-akta,
     dan dokumen lain dan melakukan segala tindakan hukum yang dianggap perlu sehubungan dengan penjaminan
     aset Perseroan lebih dari 50% jumlah kekayaan bersih Perseroan selama hal tersebut tidak bertentangan
     dengan Anggaran Dasar dan ketentuan yang berlaku.
1.   Approval to encumber the Company’s assets as collateral for debt with a value exceeding 50% of the
     Company’s net assets, whether in a single transaction or in multiple related or unrelated transactions, to
     banking institutions, third parties, and/or other financial institutions, in connection with financing facilities
     that have been granted or may be granted in the future to the Company. The assets to be pledged as collateral
     include receivables arising from the charter contract of the vessel Hai Long 106 as well as one (1) Offshore
     Support Vessel of the Pipe Laying and Lifting Vessel (PLLV) type named Hai Long 106; and
2.   Granting power and authority to the Company’s Board of Directors, with the right of substitution, to appear
     before authorized officials, institutions, or parties, to sign all letters, agreements, deeds, and other documents,
     and to undertake all legal actions deemed necessary in connection with the encumbrance of the Company’s
     assets exceeding 50% of its net assets, provided that such actions do not conflict with the Company’s Articles
     of Association and the prevailing laws and regulations.

Keputusan dan Realisasi RUPS Tahunan 2024                                  Resolutions and Implementation of the 2024 Annual
                                                                           GMS

                                                  Hasil Keputusan                                                              Realisasi
                                                    Resolutions                                                               Realization
                                                                   Agenda 1
1.   Menyetujui Laporan Tahunan Direksi Perseroan untuk tahun buku 2023;                                                   Telah direalisasikan.
2.   Menyetujui Laporan Pelaksanaan Tata Kelola Perusahaan (GCG) untuk tahun buku 2023;                                         Realized.
3.   Menyetujui Laporan Pengawasan Tahunan Dewan Komisaris Perseroan untuk tahun buku 2023;
4.   Menyetujui Pengesahan Laporan Keuangan Perseroan untuk tahun buku 2023 yang telah diaudit oleh Kantor
     Kanaka Puradiredja, Suhartono dengan opini wajar, dalam laporannya No. 00108/2.0752/AU.1/05/1014-1/1/
     III/2024 tertanggal 28 Maret 2024; dan
5.   Memberikan Pelunasan dan Pembebasan Tanggung Jawab (volledig acquit et decharge) kepada seluruh an-
     ggota Direksi dan Dewan Komisaris Perseroan atas tindakan pengurusan dan pengawasan yang telah mereka
     jalankan selama tahun buku 2023 sejauh tindakan kepengurusan dan pengawasan tersebut tercermin dalam
     Laporan Tahunan dan Laporan Keuangan Perseroan untuk tahun buku 2023 tersebut dan memenuhi peraturan
     perundang-undangan yang berlaku.
1.   Approve the Annual Report of the Company's Directors for the 2023 financial year;
2.   Approve the Corporate Governance (GCG) Implementation Report for the 2023 financial year;
3.   Approve the Corporate Governance (GCG) Implementation Report for the 2023 financial year;
4.   Approved the Ratification of the Company's Financial Report for the 2023 financial year which has been
     audited by the Office of Kanaka Puradiredja, Suhartono with a fair opinion, in its report No. 00108/2.0752/
     AU.1/05/1014-1/1/III/2024 dated 28 March 2024; and
5.   Providing repayment and release of responsibility (volledig acquit et decharge) to all members of the Compa-
     ny's Board of Directors and Board of Commissioners for the management and supervisory actions they have
     carried out during the 2023 financial year as long as these management and supervisory actions are reflected in
     the Company's Annual Report and Financial Report for the financial year 2023 and comply with applicable laws
     and regulations.




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                                                 Hasil Keputusan                                                             Realisasi
                                                   Resolutions                                                              Realization
                                                                  Agenda 2
1.   Menyetujui laporan laba bersih Perseroan;                                                                           Telah direalisasikan.
2.   Menyetujui Laporan Dana Cadangan Wajib Perseroan; dan                                                                    Realized.
3.   Menyetujui pelaksanaan kebijakan Dividen sesuai pernyataan yang dituangkan dalam dokumen Prospektus Per-
     seroan, yaitu dividen diatribusikan kepada kepentingan Pemegang Saham Non-pengendali dimulai dari tahun
     2025 berdasarkan laba tahun berjalan tahun buku 2024.
1.   Approve the Company's Net Profit Report;
2.   Approve the Company's Mandatory Reserve Fund Report; and
3.   Approved the implementation of the Dividend policy in accordance with the statement outlined in the Compa-
     ny's Prospectus document, namely that Dividends are attributed to the interests of non-controlling sharehold-
     ers starting from 2025 based on current year profits for the 2024 financial year.
                                                                  Agenda 3
1.   Menyetujui untuk memberikan kuasa dan wewenang kepada Direksi Perseroan untuk menunjuk kantor akuntan               Telah direalisasikan.
     publik independen yang akan mengaudit atas buku-buku Perseroan untuk tahun buku yang akan berakhir pada                  Realized.
     tanggal 31 Desember 2024 dan untuk menetapkan honorarium dan persyaratan-persyaratan lain penunjukan
     kantor akuntan publik tersebut; serta
2.   Menyetujui untuk memberikan kuasa dan wewenang kepada Dewan Komisaris untuk menunjuk kantor akuntan
     publik pengganti bila mana kantor akuntan publik tersebut tidak dapat melaksanakan tugas auditnya sesuai
     dengan standar akuntansi dan ketentuan perundangan yang berlaku, termasuk peraturan di bidang pasar modal
     dan peraturan Badan Pengawas Pasar Modal (Bapepam) dan Laporan Keuangan dan/atau Peraturan Otoritas
     Jasa Keuangan.
1.   Approved to grant power and authority to the Company's Board of Directors to appoint an Independent Public
     Accounting Firm that will audit the Company's books for the financial year ending December 31, 2024 and to
     determine the honorarium and other requirements for the appointment of the Public Accounting Firm; as well
     as
2.   Approved to grant power and authority to the Board of Commissioners to appoint a replacement Public Ac-
     counting Firm if the Public Accounting Firm is unable to carry out its audit duties in accordance with accounting
     standards and applicable statutory provisions, including capital market regulations and Bapepam and LK regu-
     lations and/or Regulations FSA.
                                                                  Agenda 4
1.   Menyetujui dan menetapkan gaji atau honorarium Dewan Komisaris dan Direksi pada tahun buku 2024 sebe-               Telah direalisasikan.
     sar-besarnya Rp9.000.000.000 (gross);                                                                                    Realized.
2.   Memberikan kuasa kepada Komisaris Utama Perseroan untuk menetapkan jumlah gaji atau honorarium dan
     tunjangan lainnya untuk masing-masing anggota Dewan Komisaris Perseroan, dengan mempertimbangkan re-
     komendasi dari Fungsi Remunerasi dan Nominasi Perseroan;
3.   Menyetujui pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk menetapkan jumlah gaji, tunjan-
     gan hari raya, tunjangan lain bagi masing-masing anggota Direksi Perseroan untuk tahun buku 2024, dengan
     memperhatikan rekomendasi dari Fungsi Remunerasi dan Nominasi Perseroan; dan
4.   Menyetujui jumlah tantiem/bonus untuk tahun buku 2023 yang dibayarkan pada tahun 2024 dan memberikan
     kuasa kepada Dewan Komisaris Perseroan untuk menetapkan jumlah tantiem/bonus masing-masing anggota
     Direksi Perseroan dengan memperhatikan rekomendasi Fungsi Remunerasi dan Nominasi Perseroan.
1.   Approve and determine the salary or honorarium for the Board of Commissioners and Directors in the 2024
     financial year at a maximum of Rp9,000,000,000 (gross);
2.   Grant power to the President Commissioner of the Company to determine the amount of salary or honorarium
     and other allowances for each member of the Board of Commissioners of the Company, taking into account
     recommendations from the Remuneration and Nomination Function of the Company;
3.   Approve the delegation of authority to the Company's Board of Commissioners to determine the amount of
     salary, holiday allowances and other allowances for each member of the Company's Board of Directors for the
     2024 financial year, taking into account recommendations from the Company's Remuneration and Nomination
     Function; and
4.   Approve the amount of tantiem/bonus for the 2023 financial year to be paid in 2024 and to authorize the Com-
     pany's Board of Commissioners to determine the amount of tantiem/bonus for each member of the Company's
     Board of Directors by taking into account the recommendations of the Company's Remuneration and Nomina-
     tion Function.
                                                                  Agenda 5
Laporan Pertanggung jawaban Realisasi Penggunaan Dana Hasil Penawaran Umum Saham Perdana.                                Telah direalisasikan.
Accountability Report on The Realization of The Use of Proceeds from The Initial Public Offering.                             Realized.




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Dewan Komisaris                                                                              Board of Commissioners
Dewan Komisaris menjalankan fungsi pengawasan serta                                          The Board of Commissioners performs its supervisory
memberikan arahan kepada Direksi dalam pelaksanaan                                           function and provides guidance to the Board of Directors
pengelolaan Perseroan. Selain itu, Dewan memastikan                                          in the execution of the Company’s management. In
bahwa kebijakan dan strategi yang ditetapkan Direksi                                         addition, the Board ensures that the policies and strategies
tetap selaras dengan visi, misi, tujuan perusahaan, serta                                    established by the Board of Directors remain aligned
prinsip-prinsip GCG yang berlaku.                                                            with the Company’s vision, mission, objectives, and the
                                                                                             applicable principles of Good Corporate Governance.


Pedoman Kerja                                                                                Work Guidelines
Tugas dan tanggung jawab Dewan Komisaris dilaksanakan                                        The duties and responsibilities of the Board of
berpedoman pada Peraturan Otoritas Jasa Keuangan                                             Commissioners are carried out in accordance with
No. 33/POJK.04/2014 mengenai Dewan Komisaris dan                                             Regulation of the Otoritas Jasa Keuangan No. 33/
Direksi pada Emiten maupun Perusahaan Publik.                                                POJK.04/2014 concerning the Board of Commissioners
                                                                                             and Board of Directors of Issuers and Public Companies.


Komposisi dan Masa Jabatan                                                                   Composition and Term of Office
Pada tahun 2025, susunan Dewan Komisaris mengalami                                           In 2025, the composition of the Board of Commissioners
perubahan, seiring dengan diterimanya pengunduran diri                                       underwent changes following the acceptance of the
Komisaris Independen, yaitu Bapak George Samuel dan                                          resignations of the Independent Commissioners, namely
Bapak Rivolinggo Pamudji. Dengan demikian, komposisi                                         George Samuel and Rivolinggo Pamudji. Accordingly,
anggota Dewan Komisaris terdiri dari 1 Komisaris Utama,                                      the composition of the Board of Commissioners consists
1 Komisaris, serta 1 Komisaris Independen.                                                   of 1 President Commissioner, 1 Commissioner, and 1
                                                                                             Independent Commissioner.


Masa jabatan Dewan Komisaris ditetapkan selama                                               The term of office of the Board of Commissioners is
5 tahun dalam RUPS merujuk pada ketentuan yang                                               determined for a period of five 5 years at the GMS, in
berlaku. Namun, Pemegang Saham dapat melakukan                                               accordance with the prevailing regulations. However,
pemberhentian sewaktu-waktu terhadap masing-masing                                           Shareholders may dismiss any member of the Board
organ utama tersebut, apabila tidak menjalankan tugas                                        of Commissioners at any time should they fail to
dan tanggung jawab dengan baik. Informasi terkait                                            properly perform their duties and responsibilities.
komposisi Dewan Komisaris diungkapkan pada tabel                                             Information regarding the composition of the Board of
berikut.                                                                                     Commissioners is presented in the following table.



                    Nama                                    Jabatan                                 Dasar Pengangkatan                                Masa Jabatan
                    Name                                    Position                                Basis of Appointment                                Periode

 Suganto Gunawan                               Komisaris Utama                        Akta No. 55 tanggal 16 September 2022.
                                               President Commissioner                 Akta No. 128 tanggal 28 Juni 2023.
                                                                                      Akta No. 91 tanggal 26 Juni 2025.
                                                                                                                                                         2022-2027
                                                                                      Deed No. 55 dated September 16, 2022.
                                                                                      Deed No. 128 dated June 28, 2023.
                                                                                      Deed No. 91 dated June 26, 2025.

 Suwito                                        Komisaris                              Akta No. 55 tanggal 16 September 2022.
                                               Commissioner                           Akta No. 128 tanggal 28 Juni 2023.
                                                                                      Akta No. 91 tanggal 26 Juni 2025.
                                                                                                                                                         2022-2027
                                                                                      Deed No. 55 dated September 16, 2022.
                                                                                      Deed No. 128 dated June 28, 2023.
                                                                                      Deed No. 91 dated June 26, 2025.

 H.R. Agung Laksono1)                          Komisaris Independen     Akta No. 128 tanggal 28 Juni 2023.
                                               Independent Commissioner Akta No. 91 tanggal 26 Juni 2025.
                                                                                                                                                         2024-2027
                                                                        Deed No 128 dated June 28, 2023.
                                                                        Deed No. 91 dated June 26, 2025.
1)
     Efektif menjabat sejak ditutupnya RUPS Tahunan pada tanggal 26 juni 2025./Effective in office since since closing of the Annual GMS held on 26 June 2025.




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Independensi [IDX-G.01]                                   Independence [IDX-G.01]
Perseroan memastikan seluruh anggota Dewan                The Company ensures that all members of the Board of
Komisaris menjunjung tinggi prinsip GCG dengan            Commissioners uphold the principles of Good Corporate
bertindak secara objektif, profesional, dan independen    Governance by acting objectively, professionally, and
dalam menjalankan fungsi pengawasan, serta bebas          independently in carrying out their supervisory functions,
dari benturan kepentingan dan intervensi pihak mana       and by remaining free from conflicts of interest and
pun, sehingga setiap keputusan diambil berdasarkan        undue influence from any party, so that all decisions are
kepentingan terbaik Perseroan.                            made in the best interests of the Company.


Komisaris Independen                                      Independent Commissioner
Pada tahun 2025, terjadi perubahan dalam komposisi        In 2025, there was a change in the composition of
Dewan Komisaris, yang dijabat oleh Bapak H.R. Agung       the Board of Commissioners, with the appointment
Laksono. Beliau mewakili 33,33% dari total seluruh        of H.R. Agung Laksono. He represents 33.33% of the
Dewan Komisaris yang berjumlah 3 orang. Selain itu,       total members of the Board of Commissioners, which
beliau telah memenuhi kriteria dan ketentuan yang         comprises 3 members. In addition, he has fulfilled
dipersyaratkan oleh kebijakan yang berlaku, sebagai       the criteria and requirements stipulated under the
berikut.                                                  applicable policies, as outlined below.
1. Berasal dari luar perusahaan publik.                   1. Coming from outside the public company.
2. Tidak mempunyai hubungan afiliasi dengan               2. Has no affiliation with the Company, Board of
   Perseroan, Komisaris, Direksi dan/atau Pemegang           Commissioners, Board of Directors and/or the Main
   Saham Utama dan Pengendali Perusahaan.                    and Controlling Shareholders of the Company.
3. Tidak memiliki hubungan usaha, baik langsung           3. Has no business relationship, either direct or indirect,
   maupun tidak langsung, berkaitan dengan usaha             which is related to the Company’s businesses.
   Perseroan.
4. Tidak memiliki saham, baik langsung maupun tidak       4. Has no shares ownership in the Company, either
   langsung di Perseroan.                                    direct or indirect.
5. Tidak bekerja rangkap sebagai Direktur di perusahaan   5. Hold no concurrent positions as Director of other
   lainnya yang terafiliasi dengan Perseroan.                companies that are affiliated with theCompany.
6. Mampu memahami peraturan perundang-undangan            6. Able to understand the laws and regulations in the
   di bidang pasar modal.                                    capital market sector.


Pernyataan Independensi Komisaris Independen              Statement of        Independence       of    Independent
                                                          Commissioners
Per 31 Desember 2025, Komisaris Independen telah          As of 31 December 2025, the Independent Commissioners
menjabat untuk periode kedua, dan telah menyampaikan      had served their second term and had submitted their
Pernyataan Independensi kepada Pemegang Saham di          Statements of Independence to the Shareholders at the
dalam pelaksanaan RUPS.                                   General Meeting of Shareholders.




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Tugas dan Tanggung Jawab                                Duties and responsibilities
Rincian tugas dan tanggung jawab Dewan Komisaris        The details of the duties and responsibilities of the
diuraikan sebagai berikut.                              Board of Commissioners are outlined as follows.
1. Mengawasi kepengurusan Perseroan yang dijalankan     1. Supervise the Company’s management done by the
   oleh Direksi sepanjang dipandang perlu oleh Dewan       Board of Directors as far as deemed necessary by the
   Komisaris.                                              Board of Commissioners.
2. Dewan Komisaris setiap waktu dalam jam kerja         2. The Board of Commissioners, at any time during the
   kantor berhak memasuki bangunan dan halaman             office working hours has the right to enter buildings,
   atau tempat lain yang dipergunakan atau yang            courtyard or any other premises used or controlled
   dikuasai oleh Perseroan dan berhak memeriksa            by the Company and has the right to check all books,
   semua pembukuan, surat dan alat bukti lainnya,          letters, and other evidences, and has the right to
   memeriksa dan mencocokan keadaan uang kas dan           check and match cash condition and others, and has
   lain-lain, serta berhak untuk mengetahui segala         the right to know any action taken by the Board of
   tindakan yang telah dijalankan oleh Direksi.            Directors.
3. Dewan Komisaris berhak meminta penjelasan kepada     3. The Board of Commissioners has the right to ask
   Direksi dan setiap anggota Direksi dalam keadaan        explanation to the Board of Directors and each
   tertentu dan untuk jangka waktu tertentu, maka          member of the Board of Directors under certain
   berlaku semua ketentuan mengenai hak, wewenang,         condition, all provisions on right, authorities, and
   dan kewajiban Direksi terhadap Perseroan dan pihak      obligations of the Board of Directors and the third
   ketiga.                                                 parties apply.
4. Dalam hal hanya ada 1 orang anggota Dewan            4. In the event that there is only 1 member of the
   Komisaris, segala tugas dan wewenang yang               Board of Commissioners, all duties and authorities
   diberikan kepada Komisaris Utama atau anggota           granted to the President Commissioner or members
   Dewan Komisaris dalam Anggaran Dasar ini berlaku        of the Board of Commissioners under the Articles of
   pula baginya.                                           Association shall also apply to such member.


Tugas dan Tanggung Jawab Komisaris Utama [Kriteria      Duties and Responsibilities of President Commissioner
PUGKI]                                                  [Kriteria PUGKI]


Di samping menjalankan fungsi bersama anggota Dewan     In addition to performing his duties alongside other
Komisaris, Komisaris Utama berperan sebagai pemimpin    members of the Board of Commissioners, the President
yang mengarahkan jalannya Dewan Komisaris. Tanggung     Commissioner serves as the leader who guides the
jawab tersebut mencakup memimpin rapat internal,        overall functioning of the Board. His responsibilities
mengoordinasikan rapat gabungan dengan Direksi,         include presiding over internal meetings, coordinating
hingga memimpin penyelenggaraan RUPS Tahunan dan        joint meetings with the Board of Directors, and
RUPS Luar Biasa Perseroan.                              leading the convening of the Company’s Annual and
                                                        Extraordinary GMS.


Keputusan yang Memerlukan Persetujuan Dewan             Decisions Requiring Approval from the Board of
Komisaris [Kriteria PUGKI]                              Commissioners
Dewan Komisaris berwenang terlibat dalam keputusan      The Board of Commissioners is authorized to be involved
strategis terkait aset dan pengembangan usaha           in strategic decisions related to the Company’s assets
Perseroan, termasuk menyetujui penggunaan atau          and business development, including approving the
pemindahan aset sebagai jaminan, transaksi pinjam-      use or transfer of assets as collateral, loan transactions
meminjam dalam jumlah tertentu, serta pendirian         above certain thresholds, as well as the establishment of
usaha baru atau kepemilikan saham di perusahaan lain.   new businesses or equity ownership in other companies.




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Pelaksanaan Tugas                                                                            Implementation of Duties
Sepanjang tahun 2025, Dewan Komisaris telah                                                  Throughout 2025, the Board of Commissioners has
menjalankan tugas dan tanggung jawab dengan baik, di                                         properly carried out its duties and responsibilities,
antaranya:                                                                                   including the following:
1. Mengawasi kinerja Direksi dan memberikan masukan,                                         1. Supervise the performance of the Board of
   nasihat dan rekomendasi yang objektif;                                                       Directors and provide objective input, advice and
                                                                                                recommendations
2. Melaksanakan rapat internal Dewan Komisaris dan                                           2. Carrying out internal meetings of the Board of
   rapat gabungan dengan Direksi;                                                               Commissioners and joint meetings with the Board of
                                                                                                Directors;
3. Melaksanakan rapat gabungan dengan Komite Audit;                                          3. Hold joint meetings with the Audit Committee;
4. Melakukan evaluasi dan penilaian kinerja Komite                                           4. Evaluate and assess the performance of the Audit
   Audit;                                                                                       Committee;
5. Melaksanakan Fungsi Nominasi dan Remunerasi                                               5. Carry out Nomination and Remuneration Functions
   selama tahun 2025; serta                                                                     during 2025; as well as
6. Mengkaji ulang Laporan Keuangan, Laporan Komite                                           6. Review the Financial Report, Audit Committee
   Audit, dan laporan-laporan lainnya.                                                          Report, and other reports.


Rapat [IDX-G.02]                                                                             Meeting [IDX-G.02]
Dewan      Komisaris    memiliki    kewajiban    untuk                                       The Board of Commissioners is required to hold internal
menyelenggarakan rapat internal minimal 1 kali setiap 2                                      meetings at least 1 every 2 months, as well as joint
bulan, serta rapat bersama Direksi sekurang-kurangnya                                        meetings with the Board of Directors at least 1 every 4
1 kali dalam 4 bulan. Sepanjang tahun 2025, Dewan                                            months. Throughout 2025, the Board of Commissioners
Komisaris telah melaksanakan rapat internal sebanyak 6                                       held 6 internal meetings and 3 joint meetings with
kali dan rapat gabungan dengan Direksi sebanyak 3 kali,                                      the Board of Directors, with the following meeting
dengan frekuensi kehadiran rapat sebagai berikut.                                            attendance frequency.



                                                                                                                                      Rapat Gabungan
                                                                      Rapat Internal Dewan Komisaris
                                                                                                                                 Dewan Komisaris dan Direksi
                                                                   Board of Commissioners Internal Meeting
                                                                                                                             Joint Meeting with Board of Directors
             Nama                          Jabatan
                                                                                                          Tingkat                                                  Tingkat
             Name                          Position                  Jumlah                                                 Jumlah
                                                                                                        Kehadiran                                                Kehadiran
                                                                      Rapat           Kehadiran                              Rapat           Kehadiran
                                                                                                           Total                                                    Total
                                                                     Total of         Attendance                            Total of         Attendance
                                                                                                        Attendance                                               Attendance
                                                                     Meeting                                                Meeting
                                                                                                            (%)                                                      (%)

 Suganto Gunawan                Komisaris Utama
                                President Commissioner                    6                 6              100,00                3                 3               100,00


 Suwito                         Komisaris
                                                                          6                 6              100,00                3                 3               100,00
                                Commissioner

 H.R. Agung Laksono1) Komisaris Independen
                      Independent                                         6                 3               50,00                3                 2               66,66
                      Commissioner

 Rata-Rata Kehadiran Rapat (%)
                                                                                                                                                                   88,88
 Average Meeting Attendance
1)
     Efektif menjabat sejak ditutupnya RUPS Tahunan pada tanggal 26 juni 2025./Effective in office since since closing of the Annual GMS held on 26 June 2025.




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        Ikhtisar Perseroan            Laporan Manajemen                  Profil Perusahaan
        Company Summary               Management Report                  Company Profile




Pengembangan Kompetensi [IDX-G.05]                          Competency Development [IDX-G.05]
Dewan Komisaris Perseroan diberikan kesempatan penuh        The Company’s Board of Commissioners is provided
untuk mengikuti program pengembangan kompetensi,            with full opportunities to participate in competency
baik internal, eksternal, maupun secara mandiri melalui     development programs, whether internal, external, or
platform online maupun offline. Selama tahun 2025,          independently through online and offline platforms.
tidak terdapat kegiatan pengembangan kompetensi             During 2025, there were no competency development
yang diikuti oleh Dewan Komisaris.                          activities participated by the Board of Commissioners.


Penilaian Kinerja Dewan Komisaris dan                       Performance Assessment of Board
Penilaian Kinerja Komite Pendukung                          of Commissioners and its Supporting
                                                            Committee

Penilaian Kinerja Dewan Komisaris [IDX-G.04]                Performance Assessment of Board of Commissioners
                                                            [IDX-G.04]


Prosedur Penilaian Kinerja                                  Performance Assessment Procedure
Pemegang Saham menilai kinerja Dewan Komisaris              Shareholders assess the performance of the Board
melalui Laporan Pengawasan yang disampaikan dalam           of Commissioners through the Supervisory Report
RUPS Tahunan. Setiap anggota Dewan Komisaris                presented at the Annual GMS. Each member of the
juga melakukan penilaian diri secara mandiri (self-         Board of Commissioners also conducts an independent
assessment) dengan mengacu pada kriteria yang telah         self-assessment based on predetermined criteria.
ditetapkan.


Kriteria Penilaian Kinerja                                  Performance Assessment Criteria
1. Pencapaian pelaksanaan Rapat Dewan Komisaris.            1. Achievement of Board of Commissioners meeting.
2. Kehadiran dan partisipasi anggota Dewan Komisaris.       2. Attendance and participation               of   Board     of
                                                               Commissioners’ members.
3. Ketertiban administrasi.                                 3. Administrative order.
4. Integritas     dan   keterbukaan    anggota    Dewan     4. Integrity and openness of Board of Commissioners’
   Komisaris.                                                  members.
5. Partisipasi dan kontribusi dalam menjalankan fungsi      5. Integrity and openness of Board of Commissioners’
   pengawasan dan pemberian nasihat.                           members.


Hasil Penilaian                                             Assessment Results
Selama tahun 2025, Dewan Komisaris telah                    Throughout 2025, the Board of Commissioners carried
melaksanakan tugas dan tanggung jawabnya secara             out its duties and responsibilities in a consistent and
konsisten dan terukur, yang tercermin dari kualitas serta   measurable manner, as reflected in the quality and
intensitas pemberian nasihat dan rekomendasi kepada         intensity of the advice and recommendations provided
Direksi.                                                    to the Board of Directors.


Penilaian Kinerja Komite Pendukung                          Performance Assessment of Supporting Committee
Prosedur Penilaian Kinerja                                  Performance Assessment Procedure
Secara berkala, Dewan Komisaris melakukan evaluasi          The Board of Commissioners periodically evaluates
kinerja Komite Audit guna menilai capaian yang telah        the performance of the Audit Committee to assess
diraih, mengidentifikasi aspek yang belum berjalan          its achievements, identify areas that have not yet
optimal, serta memberikan rekomendasi perbaikan demi        operated optimally, and provide recommendations for
meningkatkan efektivitas tugas komite.                      improvement to enhance the committee’s effectiveness.




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                  Management Discussion and Analysis        Corporate governance               Sustainability Report




Kriteria Penilaian Kinerja                                Performance Assessment Criteria
Penilaian terhadap komite pendukung Dewan Komisaris       The evaluation of the supporting committees of
didasarkan pada beberapa aspek utama, meliputi            the Board of Commissioners is based on several key
efektivitas pelaksanaan tugas, kehadiran dan kontribusi   aspects, including the effectiveness of task execution,
dalam rapat, serta kualitas rekomendasi yang diberikan.   attendance and contribution during meetings, and the
                                                          quality of the recommendations provided.


Hasil Penilaian                                           Assessment Results
Sepanjang tahun 2025, Dewan Komisaris menilai bahwa       Throughout 2025, the Board of Commissioners
Komite Audit telah melaksanakan tugas dan tanggung        concluded that the Audit Committee performed its
jawabnya secara efektif dan profesional, di antaranya     duties and responsibilities effectively and professionally,
proses audit Laporan Keuangan, pengawasan audit           including the auditing process of the Financial
internal, dan pengawasan penerapan GCG secara             Statements, oversight of internal audits, and supervision
menyeluruh.                                               of the overall implementation of GCG.


Program Orientasi                                         Orientation Program
Pada tahun 2025, Perseroan tidak menyelenggarakan         In 2025, the Company did not conduct an orientation
program orientasi bagi anggota Dewan Komisaris karena     program for members of the Board of Commissioners, as
tidak terdapat perubahan dalam komposisi keanggotaan      there were no changes in the composition of the Board
Dewan Komisaris pada periode tersebut.                    of Commissioners during the period.


Direksi                                                   Board of Directors
Direksi memegang kewenangan penuh dalam                   The Board of Directors holds full authority over the
menjalankan pengelolaan dan operasional, serta            management and operations of the Company and is
bertanggung jawab untuk mewujudkan tujuan Perseroan       responsible for achieving the Company’s objectives on
secara berkelanjutan.                                     a sustainable basis.


Pedoman Kerja                                             Work Guidelines
Direksi menjalankan tugas dan tanggung jawabnya           The Board of Directors performs its duties and
dengan mengacu pada Peraturan Otoritas Jasa Keuangan      responsibilities in accordance with Regulation of
No. 33/POJK.04/2014 mengenai Dewan Komisaris dan          the Otoritas Jasa Keuangan No. 33/POJK.04/2014
Direksi pada Emiten maupun Perusahaan Publik.             concerning the Board of Commissioners and Board of
                                                          Directors of Issuers and Public Companies.


Komposisi dan Masa Jabatan                                Composition and Term of Office
Pada tahun 2025, komposisi Direksi tidak mengalami        In 2025, there were no changes in the composition of the
perubahan dan terdiri atas 1 Direktur Utama dan 1         Board of Directors, which consists of 1 President Director
Direktur. Masa jabatan anggota Direksi ditetapkan         and 1 Director. The term of office of the members of the
selama 5 tahun dan dapat diangkat kembali berdasarkan     Board of Directors is determined for a period of 5 years
keputusan RUPS. Selain itu, RUPS memiliki kewenangan      and they may be reappointed based on a resolution
untuk memberhentikan anggota Direksi sewaktu-waktu        of the GMS. In addition, the GMS has the authority to
dengan alasan yang jelas dan sesuai dengan ketentuan      dismiss members of the Board of Directors at any time
yang berlaku.                                             for valid reasons and in accordance with the applicable
                                                          regulations.




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        Company Summary                   Management Report                Company Profile




        Nama                   Jabatan                          Dasar Pengangkatan                         Masa Jabatan
        Name                   Position                         Basis of Appointment                         Periode

                        Direktur Utama          Akta No. 55 tanggal 16 September 2022.
Suminto Husin Giman
                        President Director      Akta No. 128 tanggal 28 Juni 2023.
                                                Akta No. 91 tanggal 26 Juni 2025.
                                                                                                             2022-2027
                        Direktur                Deed No. 55 dated September 16, 2022.
Amanda Octania          Director                Deed No. 128 dated June, 28 2023.
                                                Deed No. 91 dated June 26, 2025.



Independensi                                                     Independence
Perseroan memastikan bahwa Direktur Utama dan                    The Company ensures that the President Director
Direktur senantiasa mengedepankan independensi dan               and the Directors consistently uphold independence
objektivitas dalam menjalankan tugas pengurusan dan              and objectivity in carrying out their management and
pengelolaan Perseroan, serta menghindari terjadinya              operational duties, and actively avoid any conflicts of
benturan kepentingan. Apabila terdapat potensi benturan          interest. In the event of a potential conflict of interest,
kepentingan, pihak terkait wajib mengungkapkannya                the relevant parties are required to disclose such
secara transparan dan mengutamakan kepentingan                   matters transparently and to prioritize the interests of
Perseroan sesuai dengan ketentuan yang berlaku.                  the Company in accordance with prevailing laws and
                                                                 regulations.


Tugas dan Tanggung Jawab                                         Duties and responsibilities
Direksi menjalankan tugas dan tanggung jawab sebagai             The Board of Directors carries out the following duties
berikut.                                                         and responsibilities.
1. Bertanggung jawab penuh             atas    pelaksanaan       1.Fully responsible for the implementation of the
   kepengurusan Perseroan.                                       Company’s management.
2. Wajib mengelola Perseroan sesuai dengan                       2.Must manage the Company in accordance to the
   kewenangan dan tanggung jawabnya sebagaimana                  authority and responsibility as stipulated in the Articles
   diatur dalam Anggaran Dasar dan peraturan                     of Association and applicable laws and regulations.
   perundang-undangan yang berlaku.
3. Melaksanakan prinsip-prinsip GCG dalam setiap                 3.Implement GCG principles in every business activity of
   kegiatan usaha Perseroan.                                     the Company
4. Menindaklanjuti temuan audit dan rekomendasi dari             4.Follow-up on any audit findings and recommendations
   Unit Audit Internal dan auditor eksternal, Otoritas           from the Internal Audit Unit and external auditors,
   Jasa Keuangan, Bursa Efek Indonesia, dan/atau hasil           Financial Services Authority, Indonesia Stock Exchange,
   pengawasan regulator terkait lainnya.                         and/ or the supervision results by other relevant
                                                                 regulators.
5. Mewakili Perseroan baik di dalam maupun di luar               5.Representing the Company both inside and outside of
   pengadilan tentang segala hal dan dalam segala                the court on all matters and in all events, binding the
   kejadian, mengikat Perseroan dengan pihak lain dan            Company with other parties and other parties with the
   pihak lain dengan Perseroan, serta menjalankan segala         Company, and carrying out all actions, either related to
   tindakan, baik yang mengenai kepengurusan ataupun             the management or ownership, with the limitation that
   kepemilikan, dengan pembatasan bahwa untuk:                   to:
   a. Meminjam atau meminjamkan uang atas nama                   a. Borrow or lend money on behalf of the Company
      Perseroan (tidak termasuk mengambil uang                      (excluding taking Company money kept at the Bank);
      Perseroan yang disimpan di Bank);
   b. Mendapatkan atau melepaskan atau menyewakan                b. Obtain or release or lease immovable property
      barang tidak bergerak milik Perseroan;                        belonging to the Company;
   c. Menggadaikan      atau     mempertanggungkan               c. Pawn or to insure/make guarantee in other ways, the
      dengan cara lain harta kekayaan Perseroan;                    Company's assets;




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    d. Mendirikan suatu usaha baru atau turut serta                  d. Establishing new business or participate in other
       pada perusahaan lain, baik di dalam maupun di                    company, either domestic or abroad, must obtain a
       dalam negeri harus dengan persetujuan tertulis                   written approval or related letters/deeds signed by
       atau surat-surat/akta-akta yang berkenaan turut                  the Company's Board of Commissioners.
       ditandatangani oleh Dewan Komisaris Perseroan.
6. Membentuk komite untuk mendukung efektivitas                      6. Form a committee to support the effectiveness of the
   pelaksanaan tugas dan tanggung jawabnya, dan                         implementation of the duties and responsibilities,
   wajib mengevaluasi kinerja komite tersebut setiap                    and is obliged to evaluate the committee’
   akhir tahun buku.                                                    performance at the end of each financial year.
7. Setiap anggota Direksi bertanggung jawab secara                   7. Each member of the Board of Directors is jointly
   tanggung renteng atas kerugian Perseroan, kecuali:                   responsible for the Company’s losses, except:
    a. Kerugian yang bukan atas kesalahan atau                           a. Loss due to nor its fault or negligence;
       kelalaiannya;
    b. Telah beritikad baik penuh tanggung jawab dan                     b. Has a good faith, full of responsibility and
       kehati-hatian dalam kepengurusan;                                    prudence in the management;
    c. Tidak ada benturan kepentingan (langsung/                         c. Free of any conflict of interest (direct/indirect)
       tidak langsung) atas tindakan pengurusan yang                        for the management action that resulting in
       menyebabkan kerugian; dan                                            losses; and
    d. Telah mengambil tindakan untuk mencegah                           d. Have taken the measures/action to prevent the
       timbulnya atau berlanjutnya kerugian.                                occurrence or continuation of losses.


Perseroan juga telah menetapkan pembagian tugas                      The Company has also established a clear allocation of
Direktur Utama dan Direktur guna mengoptimalkan                      duties between the President Director and the Directors
pelaksanaan tugas dan tanggung jawab, yang diuraikan                 in order to optimize the effective performance of their
sebagai berikut.                                                     respective duties and responsibilities, as outlined below.



 Nama dan Jabatan                                             Tugas dan Tanggung Jawab
 Name and Position                                              Duty and Responsibility

Suminto Husin          •   Memimpin dan mengarahkan seluruh kegiatan operasional perusahaan, memastikan pencapaian visi,
Giman                      misi, dan target yang telah ditetapkan oleh Pemegang Saham serta Anggaran Dasar Perusahaan.
Direktur Utama         •   Mengambil keputusan strategis, menyusun kebijakan, serta memastikan implementasi yang efektif dari
President Director         kebijakan yang diambil di seluruh lini perusahaan.
                       •   Memastikan kepatuhan terhadap peraturan perundang-undangan yang berlaku dan bertanggung jawab
                           langsung kepada RUPS atas kinerja perusahaan.
                       •   Merencanakan, pengendalian, dan pelaporan keuangan, termasuk mengelola kas dan likuiditas,
                           penyusunan anggaran, analisis kinerja keuangan, serta pengelolaan risiko keuangan.
                       •   Memastikan kepatuhan terhadap peraturan perpajakan dan regulasi keuangan yang berlaku, serta
                           memberikan rekomendasi kepada Direksi terkait kebijakan keuangan yang mendukung pertumbuhan dan
                           stabilitas perusahaan.
                       •   Leads and directs all corporate operational activities, ensuring the achievement of the Company’s
                           vision, mission, and targets as established by the Shareholders and set out in the Company’s Articles of
                           Association.
                       •   Makes strategic decisions, formulates corporate policies, and ensures the effective implementation of
                           such policies across all levels of the Company.
                       •   Ensures compliance with applicable laws and regulations and is directly accountable to the GMS for the
                           Company’s performance.
                       •   Oversees financial planning, control, and reporting, including cash and liquidity management, budget
                           preparation, financial performance analysis, and financial risk management.
                       •   Ensures compliance with prevailing tax laws and financial regulations, and provides recommendations to
                           the Board of Directors regarding financial policies that support the Company’s growth and stability.




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          Ikhtisar Perseroan              Laporan Manajemen                     Profil Perusahaan
          Company Summary                 Management Report                     Company Profile




 Nama dan Jabatan                                             Tugas dan Tanggung Jawab
 Name and Position                                              Duty and Responsibility

Amanda Octania        •   Memastikan kelancaran operasional sehari-hari Perseroan, mencakup perencanaan, pengorganisasian,
Direktur                  dan pengawasan semua kegiatan operasional agar berjalan efisien dan efektif.
Director              •   Memastikan bahwa proses produksi, distribusi, dan layanan pelanggan memenuhi standar kualitas yang
                          ditetapkan.
                      •   Meningkatkan produktivitas dan efisiensi biaya, serta memastikan kepatuhan terhadap peraturan yang
                          berlaku dalam operasional perusahaan.
                      •   Menjaga hubungan dengan investor, Pemegang Saham, dan pemangku kepentingan lainnya.
                      •   Mengakomodasi penyusunan dan penyampaian laporan berkala Perseroan, melaksanakan keterbukaan
                          informasi, memantau perkembangan pasar modal, serta menjalankan aktivitas lain yang terkait dengan
                          fungsi kesekretariatan perusahaan.
                      •   Ensures the smooth conduct of the Company’s day-to-day operations, including the planning,
                          organization, and supervision of all operational activities to ensure efficiency and effectiveness.
                      •   Ensures that production, distribution, and customer service processes meet the established quality
                          standards.
                      •   Enhances productivity and cost efficiency, while ensuring compliance with applicable regulations
                          governing the Company’s operations.
                      •   Maintains relationships with investors, Shareholders, and other relevant stakeholders.
                      •   Facilitates the preparation and submission of the Company’s periodic reports, implements information
                          disclosure practices, monitors developments in the capital market, and carries out other activities related
                          to the corporate secretarial function.

Pelaksanaan Tugas                                                    Implementation of Duties
Sepanjang tahun 2025, Direksi telah melaksanakan                     Throughout 2025, the Board of Directors effectively
peran dan tanggung jawabnya dengan efektif, di                       carried out its roles and responsibilities, including the
antaranya:                                                           following:
1. Menyusun Rencana Kerja dan Anggaran Tahunan,                      1. Prepare Work Plans andAnnual Budget, as well as
   serta kebijakan dan strategi 1 tahun buku Perseroan;                 policies and strategies for the Company's 1 financial
                                                                        year;
2. Melaksanakan RUPS Tahunan, RUPS Luar Biasa, dan                   2. Carrying out the Annual GMS, Extraordinary GMS,
   Paparan Publik;                                                      and Public Expose;
3. Melaksanakan rapat internal Direksi dan rapat                     3. Carrying out internal meetings of the Board of
   gabungan bersama Dewan Komisaris;                                    Directors and joint meetings with the Board of
                                                                        Commissioners;
4. Melakukan pengurusan dan pengelolaan Perseroan                    4. Conducted the management and administration of
   berkoordinasi bersama Sekretaris Perusahaan dan                      the Company in coordination with the Corporate
   Unit Audit Internal, termasuk dalam penerapan                        Secretary and the Internal Audit Unit, including
   sistem pengendalian internal, sistem manajemen                       the implementation of the internal control system,
   risiko, dan penerapan GCG secara komprehensif;                       risk management system, and the comprehensive
   serta                                                                application of GCG; as well as
5. Mengambil keputusan-keputusan penting untuk                       5. Made key strategic decisions to ensure the
   keberlanjutan Perseroan di tahun 2025, di antaranya                  sustainability of the Company in 2025, including
   penambahan aset melalui akuisisi kapal dan                           the expansion of assets through vessel acquisitions
   penambahan kredit dengan pihak Bank.                                 and the increase of credit facilities with banking
                                                                        institutions.
6. Menambah ruang lingkup usaha berdasarkan KBLI                     3. To expand the scope of business activities based on the
   (Klasifikasi Baku Lapangan Usaha Indonesia).                         Indonesian Standard Industrial Classification (KBLI).


Rapat [IDX-G.02]                                                     Meeting [IDX-G.02]
Direksi wajib melaksanakan rapat internal minimal 1 kali             The Board of Directors is required to convene internal
setiap bulan serta rapat bersama Dewan Komisaris paling              meetings at least 1 a month and joint meetings with the
sedikit satu kali dalam 4 bulan. Pada tahun 2025, Direksi            Board of Commissioners at least once every 4 months. In
telah melaksanakan rapat internal sebanyak 12 kali dan               2025, the Board of Directors held 12 internal meetings
rapat gabungan dengan Dewan Komisaris sebanyak 3                     and 3 joint meetings with the Board of Commissioners,
kali, dengan tingkat kehadiran sebagai berikut.                      with the following attendance rates.




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                  Management Discussion and Analysis                  Corporate governance                Sustainability Report




                                                                                                   Rapat Gabungan
                                                       Rapat Internal Direksi
                                                                                              Dewan Komisaris dan Direksi
                                                 Board of Directors Internal Meeting
                                                                                          Joint Meeting with Board of Directors
           Nama                  Jabatan
                                                                             Tingkat                                  Tingkat
           Name                  Position        Jumlah                                   Jumlah
                                                                           Kehadiran                                Kehadiran
                                                  Rapat     Kehadiran                      Rapat      Kehadiran
                                                                              Total                                    Total
                                                 Total of   Attendance                    Total of    Attendance
                                                                           Attendance                               Attendance
                                                 Meeting                                  Meeting
                                                                               (%)                                      (%)

Suminto Husin Giman        Direktur Utama
                           President Director      12            12           100,00           3           3           100,00



Amanda Octania             Direktur
                                                   12            12           100,00           3           3           100,00
                           Director

Rata-Rata Kehadiran Rapat (%)
                                                                                                                       100,00
Average Meeting Attendance




Pengembangan Kompetensi [IDX-G.05]                                Competency Development [IDX-G.05]
Pengembangan kompetensi Direksi dilakukan secara                  The development of the Board of Directors’
merata dan disesuaikan dengan kebutuhan masing-                   competencies is carried out in an equitable manner and
masing anggota. Materi yang diberikan mencakup                    tailored to the needs of each member. The materials
bidang bisnis, keuangan, dan ekonomi. Pengembangan                provided cover business, financial, and economic fields.
dapat dilakukan melalui berbagai cara, seperti                    Competency development may be conducted through
mengkaji literatur, memanfaatkan informasi digital,               various means, including reviewing literature, utilizing
serta mengikuti seminar atau forum diskusi. Sepanjang             digital information, and participating in seminars or
tahun 2025, tidak terdapat kegiatan pengembangan                  discussion forums. Throughout 2025, there were no
kompetensi yang diikuti oleh Direksi Komisaris.                   competency development activities participated in by
                                                                  the Board of Commissioners.


Penilaian Kinerja Direksi dan Organ Pendukung                     Performance Assessment of Board of Directors and its
Direksi                                                           Supporting Organ


Penilaian Kinerja Direksi [IDX-G.04]                              Performance Assessment of Board of Directors [IDX-G.04]
Penilaian kinerja Direksi dilakukan oleh Pemegang                 The performance of the Board of Directors is evaluated
Saham melalui RUPS Tahunan, antara lain dengan                    by the Shareholders through the Annual GMS, including
mengevaluasi Laporan Pengurusan dan Pengelolaan                   through the evaluation of the Company’s Management
Perseroan. Selain itu, anggota Direksi juga melakukan             and Administration Report. In addition, members of the
penilaian mandiri secara berkala berdasarkan kriteria             Board of Directors periodically conduct self-assessments
yang telah ditetapkan.                                            based on established criteria.


Kriteria                                                          Criteria
1. Pencapaian pelaksanaan rapat.                                  1. Achievement in the implementation of meetings.
2. Kehadiran dan partisipasi.                                     2. Attendance and participation.
3. Ketertiban administrasi.                                       3. Administrative orderliness.
4. Integritas dan keterbukaan.                                    4. Integrity and transparency.
5. Partisipasi dan kontribusi dalam menjalankan fungsi            5. Participation and contribution in carrying out
   pengawasan dan pemberian nasihat.                                 management functions and providing advice.




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Hasil Penilaian                                           Assessment Results
Pada tahun buku 2025, Direksi telah menjalankan           In the 2025 financial year, the Board of Directors has
tugas pengurusan dan pengelolaan Perseroan secara         carried out its duties in managing and administering
profesional dan bertanggung jawab. Di tengah tekanan      the Company in a professional and responsible manner.
terhadap kinerja keuangan yang dipengaruhi oleh           Amid pressures on financial performance driven by
meningkatnya biaya perawatan dan pemeliharaan             increasing vessel maintenance and repair costs, the
armada kapal, Direksi tetap berupaya menjaga              Board of Directors has continued to strive to maintain
keberlangsungan operasional Perseroan melalui             the Company’s operational continuity through various
berbagai langkah strategis.                               strategic initiatives.

Upaya tersebut antara lain dilakukan melalui penguatan    These efforts were carried out through strengthening
efisiensi operasional, pengendalian biaya, serta          operational efficiency, cost control, and optimizing fleet
optimalisasi kinerja armada guna mempertahankan           performance in order to maintain business stability and
stabilitas usaha dan memperbaiki kinerja keuangan         gradually improve the Company’s financial performance.
Perseroan secara bertahap.

Penilaian Kinerja Organ Pendukung Direksi                 Performance Assessment of Supporting Organs of the
                                                          Board of Directors
Direksi melakukan penilaian kinerja secara rutin          The Board of Directors conducts regular performance
terhadap Sekretaris Perusahaan dan Unit Audit Internal    evaluations of the Corporate Secretary and the
dengan mengacu pada efektivitas pelaksanaan tugas,        Internal Audit Unit, based on the effectiveness of task
pencapaian target, tingkat kehadiran dan partisipasi      execution, achievement of targets, level of attendance
dalam rapat, serta kualitas rekomendasi yang diberikan    and participation in meetings, as well as the quality of
kepada Direksi. Sepanjang tahun buku 2025, Direksi        recommendations provided to the Board of Directors.
menilai bahwa Sekretaris Perusahaan dan Unit Audit        Throughout the 2025 financial year, the Board of
Internal telah menjalankan tugas dan tanggung             Directors assessed that both the Corporate Secretary
jawabnya dengan baik.                                     and the Internal Audit Unit had performed their duties
                                                          and responsibilities satisfactorily.

Penilaian Kinerja Komite di Bawah Direksi                 Performance Evaluation of Committees Under the
                                                          Board of Directors
Hingga 31 Desember 2025, Direksi tidak memiliki           As of 31 December 2025, the Board of Directors did
komite. Maka dari itu, tidak terdapat informasi terkait   not have any committees. Therefore, no information
penilaian kinerja komite di dalam Laporan Tahunan dan     regarding committee performance evaluation is
Laporan Keberlanjutan ini.                                presented in this Annual Report and Sustainability
                                                          Report.

Program Orientasi                                         Orientation Program
Selama tahun 2025, Perseroan tidak menyelenggarakan       In 2025, the Board of Directors assessed that the
program orientasi bagi Direksi karena tidak terdapat      Corporate Secretary and Internal Audit function had
perubahan dalam komposisi Direksi.                        performed their duties and responsibilities properly.


Informasi Lain terkait Dewan Komisaris                    Other Information Related to the Board
dan Direksi                                               of Commissioners and Boar of Directors

Kebijakan Nominasi dan Remunerasi                         Nomination and Remuneration Policy
Kebijakan Nominasi    [IDX-G.06]
                                                          Nomination Policy [IDX-G.06]
Fungsi Nominasi dan Remunerasi berperan penting           The Nomination and Remuneration Function plays an
dalam merumuskan serta menentukan kebijakan               important role in formulating and determining policies
terkait proses pencalonan anggota Dewan Komisaris         related to the nomination process for members of the
dan Direksi. Tahapan nominasi dimulai dari penetapan      Board of Commissioners and the Board of Directors. The
kriteria yang telah ditetapkan oleh peraturan yang        nomination process begins with the establishment of
berlaku, sebagai berikut.                                 criteria as stipulated under applicable regulations, as
                                                          outlined below.




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1. Memiliki karakter, moral, dan integritas yang baik.        1. Possess a good character, moral, and integrity.
2. Mampu melaksanakan tindakan hukum.                         2. Capable of conducting legal actions.
3. Dalam 5 tahun terakhir sebelum pemilihan dan               3. In the past 5 years prior to the election and during
   selama masa jabatannya:                                       the term of office:
    a. Tidak pernah dinyatakan pailit;                           a. Has never been declared bankrupt;
    b. Tidak pernah menjadi bagian dari Direksi dan/             b. Has never been part of the Board of Directors
       atau Dewan Komisaris dari satu perusahaan yang               and/or Board of Commissioners of a company
       telah dinyatakan pailit;                                     that has been declared bankrupt;
    c. Tidak pernah dihukum karena tindakan kejahatan            c. Has never been convicted for crimes involving
       yang melibatkan keuangan negara dan/atau                     state finances and/or other financial sectors; and
       sektor keuangan lain; dan
    d   .Tidak pernah menjadi bagian dari Direksi dan/           d. Has never been part of the Board of Directors
        atau Dewan Komisaris dari suatu perusahaan                  and/or Board of Commissioners of a company
        yang:                                                       that:
        •    Pernah tidak         menyelenggarakan     RUPS          •   Has failed to hold an Annual GMS;
             Tahunan;
        •    Laporan pertanggungjawaban dari Direksi                 •   The report of accountability from the Board
             dan/atau Dewan Komisaris telah ditolak                      of Directors and/or Board of Commissioners
             oleh RUPS atau tidak menyerahkan laporan                    was rejected by the Annual General Meeting
             pertanggungjawaban sebagai Direksi dan/                     of Shareholders or failed to submit an
             atau Dewan Komisaris kepada RUPS; dan                       accountability report to the Annual GMS; and
        •    Pernah menyebabkan perusahaan yang                      •   Caused a company that obtained permission,
             memperoleh    izin, persetujuan  atau                       approval, or an effective statement from the
             pernyataan efektif dari Otoritas Jasa                       Financial Services Authority to fail to meet
             Keuangan gagal memenuhi penyerahan                          the requirement of submitting Financial
             Laporan Keuangan dan/atau Laporan                           Reports and/or Annual Financial Reports to
             Keuangan Tahunan kepada Otoritas Jasa                       the Financial Services Authority.
             Keuangan.
4. Memiliki komitmen untuk mematuhi peraturan yang            4. Committed to comply with applicable regulations.
   berlaku.
5. Memenuhi persyaratan lain yang ditetapkan oleh             5. Meet other requirements set by applicable laws, as
   perundang-undangan yang berlaku, selama tidak                 long as they do not conflict with the aforementioned
   berlawanan dengan persyaratan yang disebutkan                 requirements.
   sebelumnya.
6. Anggota Direksi berdomisili di Indonesia.                  6. Member of Directors domiciled in Indonesia.
7. Anggota Direksi dilarang memiliki hubungan                 7. Members of the Board of Directors are prohibited
   keluarga sampai dengan derajat kedua dengan                   from having family relations up to the second degree
   sesama anggota Direksi dan Dewan Komisaris.                   with fellow members of the Board of Directors and
                                                                 Board of Commissioners.


Proses nominasi berada di bawah tanggung jawab                The nomination process falls under the responsibility
Fungsi Nominasi dan Remunerasi, yang dilaksanakan             of the Nomination and Remuneration Function and is
melalui tahapan sebagai berikut.                              carried out through the following stages.
1. Fungsi Nominasi dan Remunerasi mengusulkan                 1. The Nomination and Remuneration Function
   nama calon anggota Dewan Komisaris dan Direksi                proposes the names of prospective members of the
   kepada Pemegang Saham dan Direksi.                            Board of Commissioners and the Board of Directors
                                                                 to the Shareholders and the Board of Directors.




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2. Apabila nama-nama yang diusulkan telah disetujui,        2. If the proposed names are approved, the Nomination
   maka Fungsi Nominasi dan Remunerasi berwenang               and Remuneration Function has the authority to
   memanggil calon tersebut untuk melakukan                    call the candidates for the election procedure and
   prosedur pemilihan dan berbagai tahapan lainnya,            other stages, including interviews if necessary.
   termasuk wawancara jika dibutuhkan. Calon-calon             The selected candidates are those who meet the
   terpilih ada pihak yang sesuai dengan kriteria              company's criteria and comply with the applicable
   Perseroan dan telah memenuhi syarat sesuai dengan           requirements.
   ketentuan yang berlaku.
3. Calon anggota Dewan Komisaris dan anggota Direksi        3. The selected candidates for the Board of
   yang terpilih harus mengikuti uji kepatutan dan             Commissioners and Board of Directors must undergo
   kelayakan.                                                  a fit and proper test.
4. Calon anggota Dewan Komisaris dan anggota                4. The selected members of the Board of Commissioners
   Direksi yang terpilih disahkan dan ditetapkan dalam         and Board of Directors are ratified and appointed
   pelaksanaan RUPS Tahunan.                                   during the Annual GMS.


Pada tahun 2025, Fungsi Nominasi dan Remunerasi             In 2025, the Nomination and Remuneration Function
tidak melakukan pencalonan anggota Dewan Komisaris          did not nominate any new members of the Board of
dan Direksi baru, karena komposisi yang ada dinilai         Commissioners or the Board of Directors, as the existing
masih sesuai dengan kebutuhan Perseroan.                    composition was deemed to remain appropriate for the
                                                            Company’s needs.


Kebijakan Remunerasi                                        Remuneration Policy
Prosedur Penetapan Remunerasi                               Remuneration Determination Procedure
Penetapan remunerasi bagi anggota Dewan Komisaris           The determination of remuneration for members of the
dan Direksi berada dalam kewenangan Pemegang                Board of Commissioners and the Board of Directors falls
Saham. Kewenangan tersebut dapat didelegasikan              under the authority of the Shareholders. Such authority
kepada Dewan Komisaris untuk menetapkan remunerasi          may be delegated to the Board of Commissioners to
Direksi, dengan tetap mengacu pada rekomendasi              determine the remuneration of the Board of Directors,
Fungsi Nominasi dan Remunerasi, ketentuan peraturan         with due regard to the recommendations of the
perundang-undangan yang berlaku, kondisi keuangan           Nomination and Remuneration Function, applicable
Perseroan, serta faktor-faktor lain yang dianggap relevan   laws and regulations, the Company’s financial condition,
dalam proses penetapan remunerasi.                          and other factors deemed relevant in the remuneration
                                                            determination process.


Dasar Penetapan Remunerasi                                  Basis for Determining Remuneration
Penentuan remunerasi bagi Dewan Komisaris dan               The determination of remuneration for members of the
Direksi dilakukan dengan berpedoman pada kebijakan          Board of Commissioners and the Board of Directors is
serta regulasi yang berlaku, dengan mempertimbangkan        carried out in accordance with applicable policies and
tingkat remunerasi di industri sejenis dan skala usaha      regulations, taking into consideration remuneration
Perseroan, tugas, tanggung jawab, dan wewenang              levels in comparable industries and the Company’s scale
masing-masing anggota yang dikaitkan dengan                 of business, the duties, responsibilities, and authorities
pencapaian tujuan dan kinerja Perseroan, pencapaian         of each member in relation to the achievement of the
target kinerja individu, serta keseimbangan antara          Company’s objectives and performance, the attainment
komponen remunerasi yang bersifat tetap dan variabel.       of individual performance targets, as well as the balance
                                                            between fixed and variable remuneration components.




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Struktur Remunerasi                                     Remuneration Structure
Perseroan menetapkan struktur remunerasi bagi anggota   The Company has established a remuneration structure
Dewan Komisaris dan Direksi berupa honorarium,          for members of the Board of Commissioners and the
insentif, serta tunjangan yang bersifat tetap maupun    Board of Directors comprising honoraria, incentives, and
variable.                                               allowances of both fixed and variable nature.


Besaran Remunerasi                                      Remuneration Amount
Informasi terkait remunerasi Dewan Komisiaris dan       Information regarding the remuneration of the Board of
Direksi diungkapkan pada tabel berikut.                 Commissioners and the Board of Directors is disclosed in
                                                        the following table.



                                                                                           Remunerasi
                                                                                          Remuneration
                                        Keterangan
                                        Description
                                                                                   2025                  2024
                                                                                   (Rp)                  (Rp)

Dewan Komisaris
Board of Commissioners
                                                                               4.997.000.000        8.760.000.000
Direksi
Board of Directors



Hubungan Afiliasi                                       Affiliate Relationship
Perseroan mengungkapkan secara transparan setiap        The Company transparently discloses any affiliation
hubungan afiliasi yang dimiliki oleh anggota Dewan      relationships between members of the Board of
Komisaris dan Direksi dengan Pemegang Saham Utama       Commissioners and the Board of Directors and the
maupun Pemegang Saham Pengendali, sebagaimana           Principal Shareholders and/or Controlling Shareholders,
diuraikan berikut ini.                                  as outlined below.




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                                              Hubungan Afiliasi:                                     Hubungan Keuangan:
                                             Affiliate Relationship:                                 Financial Relationship:

                                                                    Pemegang                                               Pemegang
                                                                      Saham                                                  Saham
                                   Dewan                                                  Dewan
                                                    Direksi        Utama dan                                Direksi       Utama dan
            Nama                 Komisaris                                              Komisaris
                                                   Board of        Pengendali                              Board of       Pengendali
            Name                  Board of                                               Board of
                                                   Directors         Main and                              Directors        Main and
                               Commissioners                                          Commissioners
                                                                   Controlling                                            Controlling
                                                                   Shareholder                                            Shareholder

                                 Ya    Tidak      Ya      Tidak    Ya        Tidak      Ya     Tidak      Ya     Tidak     Ya      Tidak
                                 Yes    No        Yes      No      Yes        No        Yes     No        Yes     No       Yes      No

                                                       Dewan Komisaris
                                                    Board of Commissioners

Suganto Gunawan                          X                  X                  X                 X                 X           √

Suwito                                   X                  X                  X                 X                 X                X

HR Agung Laksono                         X                  X                  X                 X                 X                X

                                                             Direksi
                                                        Board of Directors

Suminto Husin Giman                      X                  X                  X                 X                 X           √

Amanda Octania                           X                  X                  X                 X                 X                X



Pencegahan Konflik Kepentingan [IDX-G.09]                              Prevention of Conflict of Interest [IDX-G.09]
Perseroan menetapkan kewajiban bagi setiap anggota                     The Company requires each member of the Board of
Dewan Komisaris dan Direksi untuk mengungkapkan                        Commissioners and the Board of Directors to openly
secara terbuka setiap potensi kepentingan pribadi                      disclose any potential personal interests or conflicts of
atau benturan kepentingan yang dapat memengaruhi                       interest that may affect their independence in decision-
independensi dalam pengambilan keputusan. Selain itu,                  making. In addition, the Board of Commissioners and
Dewan Komisaris dan Direksi wajib mematuhi Kode Etik                   the Board of Directors are required to comply with
serta pedoman perilaku Perseroan yang menjunjung                       the Company’s Code of Ethics and code of conduct,
tinggi prinsip transparansi, integritas, dan akuntabilitas,            which uphold the principles of transparency, integrity,
guna memastikan pengambilan keputusan dilakukan                        and accountability, in order to ensure that decisions
secara objektif dan sesuai dengan kepentingan                          are made objectively and in the best interests of the
Perseroan.                                                             Company.


Keberagaman Komposisi [IDX-G.01]                                       Composition Diversity [IDX-G.01]
Perseroan menempatkan keberagaman dalam struktur                       The Company places diversity within the structure of
Dewan Komisaris dan Direksi sebagai prioritas guna                     the Board of Commissioners and the Board of Directors
mendukung pengambilan keputusan yang inklusif dan                      as a priority to support inclusive and high-quality
berkualitas. Seluruh anggota yang menjabat telah                       decision-making. All serving members meet relevant
memenuhi unsur keberagaman yang relevan, mencakup                      diversity criteria, including educational background,
latar belakang pendidikan, gender, pengalaman                          gender, professional experience, and expertise, which
profesional, dan keahlian, yang diharapkan dapat                       are expected to enrich perspectives and strengthen
memperkaya sudut pandang serta memperkuat kualitas                     the quality of strategic decisions. Further information
keputusan strategis. Informasi lebih lanjut mengenai                   regarding the diversity of each member of the Board
keberagaman masing-masing Dewan Komisaris dan                          of Commissioners and the Board of Directors has been
Direksi telah diungkapkapkan pada bab Profil Perusahaan                disclosed in the Company Profile chapter of this Annual
di dalam Laporan Tahunan dan Laporan Keberlanjutan                     Report and Sustainability Report.
ini.




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Komite Audit                                                      Audit Committee
Komite Audit berperan mendukung Dewan Komisaris                   The Audit Committee plays a role in supporting the
dalam menelaah efektivitas pengendalian internal                  Board of Commissioners in reviewing the effectiveness
dan proses penyusunan Laporan Keuangan, serta                     of internal controls and the financial reporting process,
memberikan rekomendasi terkait pelaksanaan audit dan              as well as providing recommendations related to the
mekanisme pelaporan guna memastikan akurasi dan                   conduct of audits and reporting mechanisms to ensure
transparansi informasi.                                           the accuracy and transparency of information.


Pedoman Kerja                                                     Work Guidelines
Komite Audit menjalankan tugas dan tanggung jawab                 The Audit Committee carries out its duties and
berpedoman pada Piagam Komite Audit yang telah                    responsibilities in accordance with the Audit Committee
diperbarui pada 8 September 2022. Piagam tersebut                 Charter, which was last updated on 8 September 2022.
juga telah disesuaikan dengan Peraturan Otoritas Jasa             The Charter has also been aligned with Financial Services
Keuangan No. 55/POJK.04/2015 tentang Pembentukan                  Authority Regulation No. 55/POJK.04/2015 concerning
dan Pedoman Pelaksanaan Kerja Komite Audit.                       the Establishment and Guidelines for the Work of the
                                                                  Audit Committee.


Komposisi dan Masa Jabatan                                        Composition and Term of Office
Pada tahun 2025, terjadi perubahan Ketua Komite Audit             In 2025, there was a change in the position of Chairman
seiring dengan perubahan komposisi Dewan Komisaris                of the Audit Committee following a change in the
Perseroan, di mana jabatan Ketua Komite Audit yang                composition of the Company’s Board of Commissioners,
sebelumnya dijabat oleh Bapak Rivolinggo Pamudji                  whereby the role of Chairman of the Audit Committee,
dilanjutkan oleh Bapak H.R. Agung Laksono. Sementara              previously held by Mr. Rivolinggo Pamudji, was
itu, komposisi Komite Audit secara keseluruhan tidak              assumed by Mr. H.R. Agung Laksono. Meanwhile, the
mengalami perubahan, yang tetap terdiri dari 1 Ketua              overall composition of the Audit Committee remained
dan 2 anggota independen.                                         unchanged, consisting of one Chairman and two
                                                                  independent members.


Adapun masa jabatan anggota Komite Audit ditetapkan               The term of office of Audit Committee members is
selama 5 tahun oleh Dewan Komisaris dan dapat                     determined by the Board of Commissioners for a period
diberhentikan sewaktu-waktu apabila tidak menjalankan             of five years and may be terminated at any time should
tugas dan tanggung jawabnya sesuai dengan ketentuan               they fail to perform their duties and responsibilities
yang berlaku. Berikut susunan Komite Audit Perseroan              in accordance with the applicable provisions. The
per 31 Desember 2025.                                             composition of the Company’s Audit Committee as of
                                                                  31 December 2025 is as follows.


         Nama                     Jabatan                         Dasar Pengangkatan                       Masa Jabatan
         Name                     Position                        Basis of Appointment                       Periode

H.R. Agung Laksono         Ketua
                                                                                                            2025-2028
                           Chairman
                                                  Surat Keputusan Dewan Komisaris No.001/SK-Komisaris/
Raditia Christine          Anggota                CBRE/JKT/VI/2025.                                         2025-2028
Senjaya                    Member                 Board of Commissioners Decree No. 001/SK-Komisaris/
                                                  CBRE/JKT/VI/2025
Saka Marlinang             Anggota                                                                          2025-2028
Nainggolan                 Member




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Informasi mengenai profil anggota Komite Audit dapat                Information regarding the profiles of the Audit
dilihat pada Bab Profil Perusahaan, sub bab Profil                  Committee members can be found in the Company
Komite Audit di dalam Laporan Tahunan dan Laporan                   Profile chapter, under the Audit Committee Profile
Keberlanjutan ini.                                                  subsection, of this Annual Report and Sustainability
                                                                    Report.


Independensi                                                        Independence
Perseroan memastikan seluruh anggota Komite Audit                   The Company ensures that all members of the
memiliki sikap independensi, yang dibuktikan dengan                 Audit Committee maintain an independent stance,
pemenuhan aspek independensi sebagi berikut.                        as evidenced by the fulfillment of the following
                                                                    independence criteria.


                        Aspek Independensi                              H.R. Agung       Raditia Christine   Saka Marlinang
                       Independence Aspect                               Laksono             Senjaya           Nainggolan

Tidak memiliki hubungan keuangan dengan Dewan Komisaris
dan Direksi. / Does not have financial affiliation with the Board of         √                   √                   √
Commissioners and the Board of Directors.

Tidak memiliki hubungan kepengurusan di perusahaan, Entitas Anak,
maupun perusahaan afiliasi. / Does not have managerial affiliation           √                   √                   √
with the company, Subsidiaries, and Affliates.

Tidak memiliki hubungan kepemilikan saham perusahaan. / Does
                                                                             √                   √                   √
nothave share ownership affiliation in the company.

Tidak memiliki hubungan keluarga dengan Dewan Komisaris, Direksi,
dan/atau sesama anggota Komite Audit. / Does not have famly
                                                                             √                   √                   √
affiliation with the Board of Commissioners, Directors, and/or fellow
membrs of Audit Committee.

Tidak menjabat sebagai pengurus partai politik dan pejabat
pemerintah daerah. / Does not serve as political party administrator         √                   √                   √
and local government fficial.



Tugas dan Tanggung Jawab                                            Duties and Responsibilities
Uraian mengenai tugas dan tanggung jawab Komite                     The duties and responsibilities of the Audit Committee
Audit dijelaskan sebagai berikut.                                   are described as follows.
1. Melakukan penelaahan atas informasi keuangan                     1. Review the financial information to be published by
   yang akan dikeluarkan Perseroan kepada publik                       the Company to public and/or the authority, namely
   dan/atau pihak otoritas, yaitu Laporan Keuangan,                    Financial Statements, projection, and other reports
   proyeksi, dan laporan lainnya terkait dengan                        related to the Company’s financial information.
   informasi keuangan Perseroan.
2. Melakukan penelaahan atas ketaatan terhadap                      2. Review the compliance of Company’s activitieswith
   peraturan perundang-undangan yang berhubungan                       the laws and regulations.
   dengan kegiatan Perseroan.
3. Memberikan pendapat independen dalam hal                         3. Provide independent opinion if there is a
   terjadi perbedaan pendapat antara manajemen dan                     disagreement between the management and the
   akuntan atas jasa yang diberikannya.                                accountant over the service provided.
4. Memberikan rekomendasi kepada Dewan Komisaris                    4. Provide recommendation to the Board of
   mengenai penunjukan akuntan yang didasarkan                         Commissioners on the appointment of accountant
   pada independensi, ruang lingkup, penugasan, dan                    based on the independence, scope, assignment, and
   imbal jasa.                                                         fee.




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5. Melakukan     penelaahan     atas     pelaksanaan     5. Review the implementation of audit by the internal
   pemeriksaan oleh auditor internal dan mengawasi          auditor and monitor the follow-up of internal
   pelaksanaan tindak lanjut oleh Direksi atas semua        auditor’s findings by the Board of Directors.
   temuan auditor internal.
6. Melakukan      penelaahan     terhadap    aktivitas   6. Review implementation activities of risk management
   pelaksanaan manajemen risiko yang dilakukan              done by Board of Directors, if the Company does not
   oleh Direksi, jika Perseroan tidak memiliki fungsi       have any risk monitoring function under the Board of
   pemantau risiko di bawah Dewan Komisaris.                Commissioners.
7. Menelaah pengaduan yang berkaitan dengan proses       7. Review any complaint related to the Company’s
   akuntansi dan pelaporan keuangan Perseroan.              accounting process and financial reporting.
8. Menelaah independensi dan objektivitas akuntan        8. Review public accountant’s independence and
   publik.                                                  objectivity.
9. Melakukan    pemeriksaan   terhadap     dugaan        9. Conduct examination on allegation of errors in the
   adanya kesalahan dalam keputusan Direksi atau            Board of Directors’ decision or irregularities in the
   penyimpangan dalam pelaksanaan hasil keputusan           implementation of the Board of Directors’ decisions
   Direksi.
10. Menyampaikan laporan hasil penelaahan kepada         10. Submit the review report to the Company's Board of
    Dewan Komisaris Perseroan.                               Commissioners.
11. Menelaah dan memberikan saran kepada Dewan           11. Review and give advice to the Board of Commissioners
    Komisaris terkait dengan adanya potensi benturan         related to the potential conflict of interest of the
    kepentingan Perseroan.                                   Company.
12. Menjaga kerahasiaan dokumen, data, dan informasi     12. Maintain the confidentiality of the Company’s
    Perseroan.                                               documents, data, and information.


Wewenang                                                 Authorities
1. Menerima otoritas dan penugasan dari Dewan            1. Receive authority and assignments from the Board
   Komisaris dengan memperhatikan peraturan yang            of Commissioners by paying attention to regulations
   terkait dengan pasar modal.                              related to the capital market.
2. Memiliki wewenang untuk mengakses catatan             2. Has the authority to access records or information
   atau informasi tentang karyawan, dana, aset, serta       about employees, funds, assets and other Company
   sumber daya Perseroan lainnya yang berkaitan             resources related to the implementation of their
   dengan pelaksanaan tugasnya.                             duties.
3. Memiliki hak akses atas informasi yang ada di         3. Has the right of access to information in the
   Perseroan dari Direksi, Unit Audit Internal, dan         Company from the Board of Directors, Internal Audit
   semua satuan organisasi Perseroan bila terjadi           Unit, and all organizational units of the Company if
   kasus/indikasi penyimpangan, di mana Komite Audit        cases/indications of irregularities occur, where the
   perlu meneliti atau mengklarifikasi kasus-kasus          Audit Committee needs to research or clarify these
   tersebut.                                                cases.
4. Mempunyai hak untuk meminta saran dan bantuan         4. Has the right to request advice and assistancefrom
   dari tenaga ahli dan profesional lain atas beban         experts and other professionals at the Company's
   Perseroan atas persetujuan Dewan Komisaris.              expense with the approval of the Board of
                                                            Commissioners.


Pelaksanaan Tugas                                        Implementation of Duties
Pada tahun 2025, Komite Audit telah melaksanakan         In 2025, the Audit Committee carried out its duties and
tugas dan tanggung jawab dengan baik, di antaranya:      responsibilities effectively, including the following:
1. Memantau, menganalisis, dan meneliti Laporan          1. Monitor, analyze and research the Company's 2025
   Keuangan Perseroan tahun 2025 telah sesuai               Financial Report in accordance with applicable
   dengan standar akuntansi yang berlaku di Indonesia;      accounting standards in Indonesia;




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2. Melakukan pengawasan terhadap penerapan                   2. Supervise the implementation of the internal control
   sistem pengendalian internal, sistem manajemen               system, risk management system and overall GCG
   risiko, dan penerapan GCG secara menyeluruh yang             implementation in coordination with the Internal
   berkoordinasi dengan Unit Audit Internal;                    Audit Unit;
3. Menindaklanjuti setiap pelaporan pelanggaran yang         3. Follow up on every reported violation that has been
   telah ditelaah oleh Unit Audit Internal;                     reviewed by the Internal Audit Unit;
4. Melakukan rapat koordinasi dengan Unit Audit              4. Conduct coordination meetings with the Internal
   Internal terkait proses audit internal, baik audit           Audit Unit regarding the internal audit process, both
   keuangan ataupun audit proses kerja; dan                     financial audits and work process audits; and
5. Menyampaikan laporan berkala pelaksanaan tugas            5. Submit periodic reports on the implementation
   dan tanggung jawab kepada Dewan Komisaris, serta             of duties and responsibilities to the Board of
   melakukan rapat gabungan.                                    Commissioners, as well as holding joint meetings.


Rapat                                                        Meeting
Komite Audit menyelenggarakan rapat internal                 The Audit Committee holds internal meetings on a
secara berkala paling sedikit 1 kali setiap 3 bulan          regular basis at least 1 every 3 months and may convene
dan dapat dilaksanakan sewaktu-waktu sesuai                  meetings at any time as required. Throughout 2025, the
kebutuhan. Sepanjang tahun 2025, Komite Audit telah          Audit Committee held a total of 4 meetings, with the
menyelenggarakan rapat sebanyak 4 kali, dengan rincian       details as follows.
sebagai berikut.



                                                                                                     Tingkat Kehadiran
              Nama                      Jabatan             Jumlah Rapat           Kehadiran
                                                                                                      Total Attendance
              Name                      Position           Total of Meeting        Attendance
                                                                                                             (%)

H.R. Agung Laksono              Ketua
                                                                  4                     4                   100,00
                                Chairman
Raditia Christine Senjaya       Anggota
                                                                  4                     4                   100,00
                                Member
Saka Marlinang Nainggolan       Anggota
                                                                  4                     4                   100,00
                                Member



Agenda Rapat                                                 Meeting Agenda
Pada tahun 2025, Komite Audit mengadakan rapat               In 2025, the Audit Committee held meetings
dengan agenda yang meliputi evaluasi penunjukan              with agendas that included the evaluation of the
akuntan publik dan kantor akuntan publik, penelaahan         appointment of the public accountant and public
Laporan Keuangan Tahunan dan triwulanan, serta kajian        accounting firm, the review of the Annual and quarterly
atas efektivitas sistem pengendalian internal dan sistem     Financial Statements, as well as an assessment of the
manajemen risiko Perseroan.                                  effectiveness of the Company’s internal control system
                                                             and risk management system.




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Pengembangan Kompetensi                                  Competency Development
Pengembangan kompetensi Komite Audit dilakukan           The development of the Audit Committee’s
secara merata dan disesuaikan dengan kebutuhan           competencies is carried out in an equitable manner and
masing-masing anggota. Materi yang diberikan             tailored to the needs of each member. The materials
mencakup bidang bisnis, keuangan, dan ekonomi.           provided cover business, financial, and economic fields.
Pengembangan dapat dilakukan melalui berbagai cara,      Competency development may be conducted through
seperti mengkaji literatur, memanfaatkan informasi       various means, including reviewing literature, utilizing
digital, serta mengikuti seminar atau forum diskusi.     digital information, and participating in seminars or
Sepanjang tahun 2025, tidak terdapat pengembangan        discussion forums. Throughout 2025, there was no
kompetensi yang diikuti oleh Komite Audit.               competency development participated in by the Audit
                                                         Committee.


Fungsi Nominasi dan Remunerasi                           Nomination                 and   Remuneration
                                                         Function
Pada tahun 2025, Perseroan belum membentuk Komite        In 2025, the Company had not established a Nomination
Nominasi dan Remunerasi, dengan mempertimbangkan         and Remuneration Committee, taking into consideration
kebutuhan dan kondisi Perseroan pada periode             the Company’s needs and conditions during the
pelaporan. Keputusan tersebut telah ditegaskan melalui   reporting period. This decision was reaffirmed through
Surat Keputusan Dewan Komisaris No. 0003/SKDK/           the Board of Commissioners’ Decree No. 0003/SKDK/
CBRE/IX/2022 tanggal 16 September 2022. Meskipun         CBRE/IX/2022 dated 16 September 2022. Nevertheless,
komite khusus belum dibentuk, Dewan Komisaris tetap      despite the absence of a dedicated committee, the Board
menjalankan Fungsi Nominasi dan Remunerasi dengan        of Commissioners continues to perform the Nomination
berpedoman pada ketentuan Peraturan Otoritas Jasa        and Remuneration Function in accordance with Financial
Keuangan No. 34/POJK.04/2014 tentang Komite              Services Authority Regulation No. 34/POJK.04/2014
Nominasi dan Remunerasi bagi Emiten atau Perusahaan      concerning Nomination and Remuneration Committees
Publik.                                                  for Issuers or Public Companies.


Tugas dan Tanggung Jawab                                 Duties and Responsibilities
Dewan Komisaris melaksanakan peran dan tanggung          The Board of Commissioners carries out its roles and
jawab sebagai Fungsi Nominasi dan Remunerasi, dengan     responsibilities as the Nomination and Remuneration
uraian tugas sebagai berikut.                            Function, with the following duties and responsibilities.


Fungsi Nominasi                                          Nomination Function
1. Menyusun komposisi dan proses nominasi anggota        1. Prepare composition and nomination processof
   Dewan Komisaris dan/atau anggota Direksi.                members of the Board of Commissioners and/or
                                                            Board of Directors.
2. Menyusun kebijakan dan kriteria yang dibutuhkan       2. Prepare policy and criteria required to nominate
   dalam proses nominasi calon anggota Dewan                candidate for members of the Board of
   Komisaris dan/atau anggota Direksi.                      Commissioners and/or Board of Directors
3. Membantu pelaksanaan evaluasi atas kinerja            3. Assist with the performance evaluation of members
   anggota Dewan Komisaris dan/atau anggota Direksi.        of the Board of Commissioners and/or Board of
                                                            Directors.
4. Menyusun program pengembangan kemampuan               4. Prepare capacity development program for members
   anggota Dewan Komisaris dan/atau Direksi.                of the Board of Commissioners and/ or Board of
                                                            Directors.




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5. Menelaah dan mengusulkan calon yang memenuhi               5. Review and propose qualified candidates as members
   syarat sebagai anggota Dewan Komisaris dan/atau               of the Board of Commissioners and or Board of
   anggota Direksi untuk disampaikan kepada RUPS.                Directors to be submitted in GMS.


Fungsi Remunerasi                                             Remuneration Function
1. Menyusun struktur remunerasi bagi anggota Dewan            1. Prepare remuneration structure for members of the
   Komisaris dan/atau anggota Direksi.                           Board of Commissioners and/or Board of Directors.
2. Menyusun kebijakan atas remunerasi bagi anggota            2. Prepare remuneration policy for members of the
   Dewan Komisaris dan/atau anggota Direksi.                     Board of Commissioners and/or Board of Directors.
3. Menyusun besaran atas remunerasi bagi anggota              3. Prepare remuneration amount for members of the
   Dewan Komisaris dan/atau anggota Direksi untuk                Board of Commissioners and/or Board of Directors
   disampaikan kepada RUPS.                                      to be submitted in GMS.


Pelaksanaan Tugas                                             Implementation of Duties
Pada tahun 2025, Fungsi Nominasi dan Remunerasi               In 2025, the Nomination and Remuneration Function
telah melaksanakan tugas dan tanggung jawabnya                carried out its duties and responsibilities in accordance
sesuai dengan pedoman kerja yang berlaku, antara lain         with the applicable working guidelines, including the
dalam menetapkan kebijakan remunerasi Perseroan               determination of the Company’s remuneration policies
serta mengusulkan program pengembangan kompetensi             and the proposal of relevant competency development
yang relevan bagi anggota Dewan Komisaris, Direksi, dan       programs for members of the Board of Commissioners,
karyawan.                                                     the Board of Directors, and employees.


Sekretaris Perusahaan                                         Corporate Secretary
Sekretaris Perusahaan merupakan organ pendukung               The Corporate Secretary serves as a supporting function to
Direksi yang berperan penting dalam memastikan                the Board of Directors and plays a vital role in ensuring the
Perseroan mematuhi ketentuan pasar modal serta                Company’s compliance with capital market regulations
regulasi terkait lainnya. Selain itu, Sekretaris Perusahaan   and other applicable requirements. In addition, the
bertanggung jawab atas pengelolaan administrasi               Corporate Secretary is responsible for managing the
perusahaan, termasuk penyusunan dan pengarsipan               Company’s corporate administration, including the
dokumen, serta pengelolaan informasi dan komunikasi           preparation and maintenance of corporate documentation,
korporasi.                                                    as well as the management of corporate information and
                                                              communications.


Pedoman Kerja                                                 Work Guidelines
Pelaksanaan tugas dan tanggung jawab Sekretaris               The performance of the duties and responsibilities of
Perusahaan berpedoman pada Peraturan Otoritas Jasa            the Corporate Secretary is carried out in accordance
Keuangan No. 35/POJK.04/2014 mengenai Sekretaris              with Financial Services Authority Regulation No. 35/
Perusahaan Emiten atau Perusahaan Publik.                     POJK.04/2014 concerning Corporate Secretaries of
                                                              Issuers or Public Companies.


Profil Sekretaris Perusahaan                                  Corporate Secretary Profile
Pada tahun 2025, tidak terdapat perubahan atas posisi         In 2025, there was no change in the position of Corporate
Sekretaris Perusahaan yang tetap dijabat oleh Ibu             Secretary, which continued to be held by Ms. Amanda
Amanda Octania, yang juga menjabat sebagai Direktur           Octania, who also serves as a Director of the Company.
Perseroan. Penunjukan beliau ditetapkan melalui Surat         Her appointment was stipulated through the Board of
Keputusan Direksi No. 0003/SKDD/CBRE/IX/2022                  Directors’ Decree No. 0003/SKDD/CBRE/IX/2022 dated
tanggal 16 September 2022 mengenai Pengangkatan               16 September 2022 concerning the Appointment of the
Sekretaris Perusahaan. Informasi mengenai profil              Corporate Secretary. Information regarding her profile
telah diungkapkan Bab Profil Perusahaan, sub bab              has been disclosed in the Company Profile chapter,
Profil Direksi di dalam Laporan Tahunan dan Laporan           under the Board of Directors Profile subsection, of this
Keberlanjutan ini.                                            Annual Report and Sustainability Report.




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Tugas dan Tanggung Jawab                                 Duties and Responsibilities
Uraian mengenai tugas dan tanggung jawab Sekretaris      The duties and responsibilities of the Corporate
Perusahaan diuraikan sebagai berikut.                    Secretary are described as follows.


1. Memberikan masukan kepada Direksi Perseroan           1.Provide input to the Company’s Board ofDirectors to
   untuk mematuhi ketentuan-ketentuan yang berlaku           comply with the applicable regulations including
   termasuk tapi tidak terbatas Undang-Undang                but not limited to Law No. 40 of 2007 on Limited
   No. 40 Tahun 2007 tentang Perseroan Terbatas,             Liability Companies, Law no. 9 of 1995 on Capital
   Undang-Undang No. 9 tahun 1995 tentang Pasar              Market, as well as any applicable regulations in the
   Modal, serta peraturan-peraturan yang berlaku di          Republic of Indonesia and in accordance with the
   Republik Indonesia dan sesuai dengan norma-norma          general corporate governance norms.
   corporate governance secara umum.
2. Mengikuti perkembangan pasar modal, khususnya         2. Follow the capital market development, especially
   peraturan perundang-undangan yang berlaku di             the applicable laws and regulations in the capital
   bidang pasar modal.                                      market sector.
3. Memberikan masukan kepada Dewan Komisaris             3.Provide input to the Company's Board of Commissioners
   dan Direksi Perseroan untuk mematuhi ketentuan            and Board of Directors to comply with statutory
   peraturan perundang-undangan di bidang pasar              provisions in the capital market sector.
   modal.
4. Membantu Dewan Komisaris dan Direksi dalam            4. Assist the Board of Commissioners and Board of
   pelaksanaan tata kelola perusahaan yang meliputi:        Directors in implementing the corporate governance
                                                            which includes:
    a. Keterbukaan informasi kepada masyarakat,             a. Information disclosure to public, including the
       termasuk ketersediaan informasi pada situs web          availability of information on the Company's
       Perseroan;                                              website;
    b. Penyampaian laporan kepada Otoritas Jasa             b. Timely submission of reports to the Financial
       Keuangan tepat waktu;                                   Services Authority;
    c. Penyelenggaraan dan dokumentasi RUPS;                c. Implementation and documentation of GMS;
    d. Penyelenggaraan dan dokumentasi rapat Dewan          d. Implementation and documentation of Board
       Komisaris dan/atau Direksi; serta                       of Commissioners and/or Board of Directors
                                                               meetings; and
    e. Pelaksanaan program orientasi terhadap               e. Implementation of company orientation program
       perusahaan bagi Dewan Komisaris dan/atau                for the Board of Commissioners and/or the Board
       Direksi.                                                of Directors
5. Sebagai penghubung antara emiten atau perusahaan      5. Acts as a liaison between the issuer or public
   publik dengan Pemegang Saham emiten atau                 company and Shareholders of Issuers or public
   perusahaan publik, Otoritas Jasa Keuangan, dan           companies, Financial Services Authority, and other
   pemangku kepentingan lainnya.                            stakeholders.


Pelaksanaan Tugas                                        Implementation of Duties
Pada tahun 2025, Sekretaris Perusahaan telah             In 2025, the Corporate Secretary carried out her duties
menjalankan tugas tanggung jawabnya secara efektif, di   and responsibilities effectively, including the following:
antaranya:


1. Menyampaikan laporan berkala Perseroan secara         1. Submitted the Company’s periodic reports to
   tepat waktu kepada regulator;                            regulators in a timely manner;
2. Melaksanakan dan mendokumentasikan RUPS               2. Organized and documented the Annual GMS,
   Tahunan, RUPS Luar Biasa, serta Paparan Publik;          Extraordinary GMS, and Public Expose;
3. Mendokumentasi rapat internal Dewan Komisaris,        3. Documented internal meetings of the Board of
   rapat internal Direksi, rapat gabungan Dewan             Commissioners, internal meetings of the Board
   Komisaris dan Direksi, serta kegiatan internal           of Directors, joint meetings of the Board of
   lainnya;                                                 Commissioners and the Board of Directors, as well as
                                                            other internal activities;




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4. Memperbarui informasi Perseroan di situs web            4. Updated the Company’s information on the internal
   internal dan situs web Bursa Efek Indonesia; serta         website and the Indonesia Stock Exchange website;
5. Menginformasikan kepada Direksi terkait perubahan       5. Informed the Board of Directors of changes in
   kebijakan dan peraturan yang berlaku, terutama di          applicable policies and regulations, particularly in
   bidang pasar modal.                                        the capital market sector; and
4. Mengadakan pelaksanaan investor gathering untuk         4. Conducted investor gatherings to strengthen
   mempererat hubungan komunikasi dengan para                 communication and engagement with investors.
   investor.


Pengembangan Kompetensi                                    Competency Development
Dalam rangka meningkatkan kompetensi dan                   In order to enhance competence and professionalism,
profesionalisme, Sekretaris Perusahaan mengikuti           the Corporate Secretary participated in various
berbagai kegiatan pengembangan kompetensi yang             competency development activities organized internally
diselenggarakan secara internal oleh Perseroan maupun      by the Company as well as through collaboration
melalui kerja sama dengan pihak ketiga.                    with third parties. Throughout 2025, there were no
                                                           competency development activities participated in by
                                                           the Corporate Secretary.


Sepanjang tahun 2025, Sekretaris Perusahaan turut          Throughout 2025, the Corporate Secretary actively
aktif mengikuti seminar yang diselenggarakan oleh ICSA     participated in seminars organized by the Indonesia
(Indonesia Corporate Secretary Association) dengan         Corporate Secretary Association (ICSA), covering topics
materi terkait tentang peningkatan profesionalisme         related to enhancing the professionalism of Corporate
Sekretaris Perusahaan, Investor Relations dan Legal.       Secretaries, Investor Relations, and Legal matters.


Unit Audit Internal                                        Internal Audit Unit
Unit Audit Internal bertugas melakukan pengawasan dan      The Internal Audit Unit is tasked with conducting
evaluasi secara independen atas efektivitas pengendalian   independent oversight and evaluations of the effectiveness
internal, manajemen risiko, dan penerapan tata kelola      of internal control systems, risk management, and the
perusahaan, serta memastikan kegiatan operasional          implementation of corporate governance, as well as
Perseroan berjalan sesuai kebijakan dan ketentuan yang     ensuring that the Company’s operational activities are
berlaku, sekaligus memberikan rekomendasi perbaikan        carried out in accordance with established policies and
yang diperlukan.                                           applicable regulations, while also providing necessary
                                                           recommendations for improvement.


Pedoman Kerja                                              Work Guidelines
Unit Audit Internal melaksanakan tugas dan tanggung        The Internal Audit Unit carries out its duties and
jawab pedoman pada Piagam Unit Audit Internal yang         responsibilities in accordance with the Internal Audit
disahkan pada 8 September 2022. Piagam tersebut            Unit Charter, which was approved on 8 September
juga telah diselaraskan dengan Peraturan Otoritas          2022. The Charter has also been aligned with Financial
Jasa Keuangan No. 56/POJK.04/2015 mengenai                 Services Authority Regulation No. 56/POJK.04/2015
Pembentukan dan Pedoman Penyusunan Piagam Unit             concerning the Establishment and Guidelines for the
Audit Internal.                                            Preparation of the Internal Audit Unit Charter.




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Struktur dan Kedudukan                                     Structure and Position
Secara struktural, Unit Audit Internal berada di bawah     Structurally, the Internal Audit Unit reports to the
Direktur Utama dan melaksanakan fungsi audit secara        President Director and performs its audit function
independen. Dalam menjalankan tugasnya, Unit Audit         independently. In carrying out its duties, the Internal
Internal memiliki akses komunikasi langsung dengan         Audit Unit has direct access to communicate with all
seluruh organ perusahaan guna mendukung kelancaran         corporate organs to support the effective execution of
pelaksanaan audit. Unit ini juga berkoordinasi dengan      audit activities. The Unit also coordinates with the Audit
Komite Audit serta auditor eksternal dalam menganalisis    Committee and external auditors in analyzing audit
hasil audit dan menyusun rekomendasi perbaikan yang        results and formulating the necessary recommendations
diperlukan. Seluruh hasil audit dan laporan berkala        for improvement. All audit results and periodic reports
disampaikan secara langsung oleh Unit Audit Internal       are submitted directly by the Internal Audit Unit to the
kepada Direktur Utama.                                     President Director.


Profil Unit Audit Internal                                 Internal Audit Unit Profile
Posisi Kepala Unit Audit Internal tetap dijabat oleh       The position of Head of the Internal Audit Unit continued
Oktaviana Magdalena, sebagaimana ditetapkan melalui        to be held by Ms. Oktaviana Magdalena, as stipulated
Surat Keputusan Direksi No. 0006/SKDD/CBRE/IX/2022         through the Board of Directors’ Decree No. 0006/SKDD/
tanggal 16 September 2022. Informasi mengenai profil       CBRE/IX/2022 dated 16 September 2022. Information
Kepala Unit Audit Internal telah diungkapkan pada Bab      regarding the profile of the Head of the Internal Audit
Profil Perusahaan, sub bab Profil Unit Audit Internal di   Unit has been disclosed in the Company Profile chapter,
dalam Laporan Tahunan dan Laporan Keberlanjutan ini.       under the Internal Audit Unit Profile subsection, of this
                                                           Annual Report and Sustainability Report.


Jumlah Auditor                                             Number of Auditors
Pada tahun 2025, Unit Audit Internal Perseroan terdiri     In 2025, the Company’s Internal Audit Unit consisted of
dari 1 auditor yang juga menjabat sebagai Kepala Unit      one auditor, who also served as the Head of the Internal
Audit Internal.                                            Audit Unit.


Tugas dan Tanggung Jawab                                   Duties and Responsibilities
Unit Audit Internal menjalankan tugas dan tanggung         The Internal Audit Unit performs its duties and
jawab yang mencakup hal-hal sebagai berikut.               responsibilities, which include the following.


1. Menyusun dan melaksanakan Rencana Audit Internal        1. Prepare and implement the Annual Internal Audit
   Tahunan.                                                   Plan.
2. Menguji     dan     mengevaluasi     pelaksanaan        2. Test and evaluate the implementation of the internal
   pengendalian internal dan sistem manajemen risiko          control and risk management systems in accordance
   sesuai dengan kebijakan Perseroan.                         with the Company policies
3. Melakukan pemeriksaan dan penilaian atas efisiensi      3. Conduct examination and assessment on the
   dan efektivitas di bidang keuangan, akuntansi,             efficiency and effectiveness of the financial,
   operasional, sumber daya manusia, pemasaran,               accounting,   operations,   marketing, human
   teknologi informasi dan kegiatan lainnya.                  resources, information technology, and other
                                                              activities.
4. Memberikan saran perbaikan dan informasi yang           4. Provide improvement suggestion and objective
   objektif tentang kegiatan yang diperiksa pada semua        information on the audited activities on all
   tingkat manajemen.                                         management level.
5. Membuat laporan hasil audit dan menyampaikan            5. Make audit results report and submit the report to the
   laporan tersebut kepada Direktur Utama dan Dewan           President Director and the Board of Commissioners.
   Komisaris.




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6. Memantau,    menganalisis,   dan    melaporkan        6. Monitor, analyze, and report the implementation of
   pelaksanaan tindak lanjut perbaikan yang telah           the suggested corrective action.
   disarankan.
7. Melakukan kerja sama dengan Komite Audit.             7. Cooperating with the Audit Committee
8. Menyusun program untuk mengevaluasi mutu              8. Prepare program to evaluate the quality of the
   kegiatan audit internal yang dilakukannya.               internal audit that it conducted.
9. Melakukan pemeriksaan khusus apabila diperlukan.      9. Conduct special examination out special inspections
                                                            if necessary.


Wewenang                                                 Authorities
1. Mengakses seluruh informasi yang relevan tentang      1. Access all relevant information about the Company
   Perseroan terkait dengan tugas dan fungsinya.            related to its duties and functions.
2. Melakukan komunikasi secara langsung dengan           2. Communicating directly with the Board of Directors,
   Direksi, Dewan Komisaris, dan/atau Komite Audit          Board of Commissioners and/or the Audit Committee
   serta anggota dari Direksi, Dewan Komisaris, dan/        and members of the Board of Directors, Board of
   atau Komite Audit.                                       Commissioners and/or the Audit Committee.
3. Mengadakan rapat secara berkala dan insidentil        3. Hold regular and incidental meetings with the Board
   dengan Direksi, Dewan Komisaris, dan/atau Komite         of Directors, Board of Commissioners and/or the
   Audit.                                                   Audit Committee.
4. Melakukan koordinasi kegiatannya dengan kegiatan      4. Coordinate its activities with the activities of the
   auditor eksternal.                                       external auditors.


Pelaksanaan Tugas                                        Implementation of Duties
Pada tahun 2025, Unit Audit Internal telah menjalankan   In 2025, the Internal Audit Unit carried out its duties and
tugas dan tanggung jawab dengan baik, di antaranya:      responsibilities effectively, including the following:


1. Melaksanakan proses audit internal baik audit         1. Carry out an internal audit process, both financial
   Laporan Keuangan ataupun audit proses kerja di           report audits and work process audits in each
   masing-masing divisi/unit Perseroan selama tahun         division/unit of the Company during 2025;
   2025;
2. Melakukan koordinasi kerja dengan Komite Audit        2. Coordinating work with the Audit Committee and
   dan auditor eksternal;                                   external auditor;
3. Melakukan penerapan dan pengawasan terkait            3. Implement and supervise internal control systems
   sistem pengendalian internal dan sistem manajemen        and risk management systems;
   risiko;
4. Mengawasi penerapan GCG secara menyeluruh;            4. Oversee the implementation of GCG as a whole;
5. Menghadiri rapat gabungan dengan Dewan Komisaris      5. Attend joint meetings with the Board                   of
   dan Direksi; serta                                       Commissioners and Directors; as well as
6. Menyampaikan laporan berkala terkait pelaksanaan      6. Submit   periodic     reports    regarding     the
   tugas kepada Direktur Utama.                             implementation of duties to the Main Director.


Rapat                                                    Meeting
Rapat Unit Audit Internal dilaksanakan melalui rapat     Meetings of the Internal Audit Unit are conducted
gabungan bersama Dewan Komisaris, Direksi, dan           through joint meetings with the Board of Commissioners,
Komite Audit yang diselenggarakan secara berkala,        the Board of Directors, and the Audit Committee,
paling sedikit 1 kali dalam setahun. Selain itu, rapat   which are held on a regular basis at least 1 time a
tambahan dapat diselenggarakan apabila diperlukan.       year. Additional meetings may also be convened as
Sepanjang tahun 2025, Kepala Unit Audit Internal telah   necessary. Throughout 2025, the Head of the Internal
mengikuti 1 kali gabungan yang membahas Laporan          Audit Unit attended 1 time meetings that discussed the
Keuangan, pengendalian internal, dan manajemen risiko    Company’s Financial Statements, internal control, and
Perseroan.                                               risk management.




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                  Management Discussion and Analysis         Corporate governance             Sustainability Report




Pengembangan Kompetensi                                    Competency Development
Perseroan memberikan kesempatan kepada Kepala              The Company provides opportunities for the Head of the
Unit Audit Internal untuk mengikuti berbagai kegiatan      Internal Audit Unit to participate in various competency
pengembangan kompetensi, baik yang diselenggarakan         development activities, both those organized internally
secara internal oleh Perseroan maupun melalui kerja        by the Company and those conducted in collaboration
sama dengan pihak ketiga. Sepanjang tahun 2025, tidak      with third parties. Throughout 2025, there were no
terdapat kegiatan pengembangan kompetensi yang             competency development activities participated in by
diikuti oleh Unit Audit Internal.                          the Internal Audit Unit.


Sistem Pengendalian Internal                               Internal Control System
Perseroan menerapkan sistem pengendalian internal          The Company implements an internal control system
untuk mencegah kecurangan, melindungi aset, serta          to prevent fraud, safeguard assets, and ensure that
memastikan kegiatan operasional berjalan sesuai            operational activities are conducted in compliance
ketentuan yang berlaku. Penerapan sistem ini juga          with applicable regulations. The implementation of
bertujuan menjaga integritas, meningkatkan efisiensi,      this system also aims to maintain integrity, enhance
dan mendukung pencapaian tujuan usaha secara               efficiency, and support the sustainable achievement of
berkelanjutan.                                             business objectives.


Tinjauan Penerapan Sistem Pengendalian Internal            Internal Control System Implementation Review
Direksi bersama Unit Audit Internal melakukan              The Board of Directors, together with the Internal Audit
pemantauan rutin atas efektivitas sistem pengendalian      Unit, conducted regular monitoring of the effectiveness
internal untuk memastikan proses pengawasan berjalan       of the internal control system to ensure that oversight
optimal dan mengidentifikasi area yang perlu diperbaiki.   processes operated optimally and to identify areas
Hasil pemantauan tersebut dilaporkan kepada Dewan          requiring improvement. The results of such monitoring
Komisaris dan Komite Audit sebagai dasar pembahasan        were reported to the Board of Commissioners and
dan penetapan langkah perbaikan guna memperkuat            the Audit Committee as a basis for discussion and
pengendalian internal Perseroan.                           the determination of corrective measures to further
                                                           strengthen the Company’s internal control framework.


Pernyataan Dewan Komisaris dan Direksi atas                Statement of the Board of Commissioners and Board
Kecukupan Sistem Pengendalian Internal                     of Directors on the Adequacy of Internal Control
                                                           System
Pada tahun 2025, Dewan Komisaris dan Direksi               In 2025, the Board of Commissioners and the Board of
melakukan evaluasi atas efektivitas sistem pengendalian    Directors conducted an evaluation of the effectiveness
internal Perseroan dan menilai bahwa sistem tersebut       of the Company’s internal control system and assessed
telah berfungsi dengan baik dalam mendukung mitigasi       that the system had functioned effectively in supporting
risiko dan keandalan operasional. Meski demikian, Dewan    risk mitigation and operational reliability. Nevertheless,
Komisaris dan Direksi tetap mendorong penyempurnaan        the Board of Commissioners and the Board of Directors
secara berkelanjutan untuk memperkuat pengendalian         continue to encourage continuous improvement to
dan meminimalkan potensi risiko di masa mendatang.         further strengthen controls and minimize potential risks
                                                           in the future.




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          Ikhtisar Perseroan         Laporan Manajemen                Profil Perusahaan
          Company Summary            Management Report                Company Profile




Sistem Manajemen Risiko                                    Risk Management System
Perseroan menerapkan sistem manajemen risiko untuk         The Company implements a risk management system
meminimalkan potensi dampak risiko dalam kegiatan          to minimize the potential impact of risks arising from
usaha, yang dikoordinasikan oleh Direksi bersama Unit      its business activities. This system is coordinated by the
Audit Internal melalui proses identifikasi, pemetaan,      Board of Directors in collaboration with the Internal Audit
dan mitigasi risiko. Melalui penerapan sistem tersebut,    Unit through risk identification, mapping, and mitigation
Perseroan memastikan pengelolaan risiko dilakukan          processes. Through the implementation of this system,
secara terstruktur dan efektif guna mendukung              the Company ensures that risk management is conducted
keberlanjutan usaha.                                       in a structured and effective manner to support business
                                                           sustainability.


Profil Risiko [POJK51-E.3]                                 Risk Profile [POJK51-E.3]
Uraian mengenai jenis risiko yang dihadapi Perseroan       The types of risks faced by the Company, along with
beserta upaya mitigasi yang dilakukan, diuraikan sebagai   the mitigation measures undertaken, are described as
berikut.                                                   follows.


RISIKO UTAMA YANG MEMPUNYAI PENGARUH                       KEY RISKS WITH A SIGNIFICANT IMPACT ON THE
SIGNIFIKAN TERHADAP KELANGSUNGAN USAHA                     COMPANY’S BUSINESS CONTINUITY
PERSEROAN

Risiko Fluktuasi Permintaan Jasa Pelayaran dan             Risk of Fluctuations in Demand for Shipping and
Offshore                                                   Offshore Services

Kegiatan usaha Perseroan sangat dipengaruhi oleh           The Company’s business activities are highly influenced
tingkat permintaan atas jasa angkutan laut dan jasa        by the level of demand for maritime transportation
penunjang kegiatan offshore. Permintaan tersebut           services and offshore support services. Such demand
berkaitan erat dengan kondisi ekonomi, tingkat aktivitas   is closely linked to economic conditions, the level of
perdagangan, pertambangan, konstruksi, serta sektor        activity in trade, mining, construction, and the energy
energi, baik di dalam negeri maupun internasional.         sector, both domestically and internationally. A decline
Penurunan aktivitas pada sektor-sektor tersebut,           in activity in these sectors resulting from economic
yang dapat disebabkan antara lain oleh perlambatan         slowdowns, commodity price fluctuations, changes in
ekonomi, fluktuasi harga komoditas, perubahan              government policies, or other external factors may lead
kebijakan pemerintah, maupun faktor eksternal              to reduced cargo volumes and lower fleet utilization
lainnya, berpotensi mengakibatkan menurunnya               rates. Ultimately, these conditions may adversely affect
volume pengangkutan dan tingkat utilisasi armada           the Company’s revenue, cash flow, and overall financial
kapal Perseroan. Kondisi tersebut pada akhirnya dapat      performance.
berdampak negatif terhadap pendapatan, arus kas, dan
kinerja keuangan Perseroan.

Selain itu, tingkat permintaan jasa penunjang offshore     In addition, demand for offshore support services is
juga dipengaruhi oleh rencana dan realisasi proyek-        influenced by the planning and execution of energy
proyek energi dan konstruksi laut, yang bersifat siklis    and marine construction projects, which are cyclical in
dan sangat bergantung pada keputusan investasi para        nature and highly dependent on investment decisions
pelaku industri. Apabila terjadi penundaan, pembatalan,    by industry players. Any delays, cancellations, or scaling
atau pengurangan skala proyek-proyek tersebut, maka        down of such projects may significantly reduce demand
permintaan atas jasa Perseroan dapat menurun secara        for the Company’s services.
signifikan.

Tidak terdapat jaminan bahwa tingkat permintaan            There is no assurance that demand for shipping and
jasa pelayaran dan offshore akan tetap stabil atau         offshore services will remain stable or increase in the
meningkat di masa mendatang. Oleh karena itu,              future. Therefore, fluctuations in demand represent one
fluktuasi permintaan merupakan salah satu risiko utama     of the key risks that may affect the Company’s business
yang dapat mempengaruhi keberlangsungan dan kinerja        continuity and performance.
usaha Perseroan.




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                  Management Discussion and Analysis                    Corporate governance                 Sustainability Report




 RISIKO USAHA YANG BERSIFAT MATERIAL BAIK SECARA LANGSUNG MAUPUN TIDAK LANGSUNG YANG DAPAT
                 MEMPENGARUHI HASIL USAHA DAN KONDISI KEUANGAN PERSEROAN
      MATERIAL BUSINESS RISKS, BOTH DIRECT AND INDIRECT, THAT MAY AFFECT THE COMPANY’S RESULTS OF
                                  OPERATIONS AND FINANCIAL CONDITION
 1.    Risiko Operasional         Perseroan menghadapi risiko operasional yang melekat pada kegiatan pelayaran dan jasa
       dan Teknis Kapal           penunjang offshore, antara lain kerusakan mesin, gangguan teknis kapal, kecelakaan laut, serta
       / Operational and          keterlambatan operasional. Risiko-risiko tersebut dapat menimbulkan tambahan biaya perbaikan,
       Technical Risks of         penurunan pendapatan, atau potensi klaim dari pengguna jasa, yang pada akhirnya dapat
       Vessels                    mempengaruhi kinerja keuangan Perseroa, termasuk penurunan utilisasi kapal, terganggunya
                                  kelangsungan operasional, serta tekanan terhadap arus kas Perseroan./The Company is exposed
                                  to operational risks inherent in shipping and offshore support activities, including engine
                                  failures, vessel technical issues, maritime accidents, and operational delays. These risks may
                                  result in additional repair costs, reduced revenue, or potential claims from customers, which
                                  could ultimately affect the Company’s financial performance, including lower vessel utilization,
                                  disruption of operational continuity, and pressure on the Company’s cash flow.

 2.    Risiko Fluktuasi           Sebagian muatan yang diangkut oleh Perseroan merupakan komoditas curah, seperti batu bara,
       Harga Komoditas            nikel, serta material konstruksi, yang sangat dipengaruhi oleh dinamika harga pasar domestik
       / Commodity Price          dan internasional. Pergerakan harga komoditas tersebut, baik akibat perubahan permintaan
       Fluctuation Risk           global, kebijakan perdagangan, kondisi geopolitik, maupun faktor makroekonomi lainnya, dapat
                                  mempengaruhi tingkat produksi dan distribusi para pelaku usaha di sektor terkait./A significant
                                  decline in commodity prices may lead producers or cargo owners to reduce production volumes,
                                  delay shipments, or implement distribution efficiencies, thereby reducing the demand for maritime
                                  transportation services. Conversely, sharp increases in prices may also create market uncertainty
                                  and prompt adjustments in customers’ business strategies.

                                  Apabila terjadi penurunan harga komoditas secara signifikan, para produsen atau pemilik barang
                                  dapat mengurangi volume produksi, menunda pengiriman, atau melakukan efisiensi distribusi yang
                                  berdampak pada berkurangnya kebutuhan jasa angkutan laut. Sebaliknya, lonjakan harga yang
                                  ekstrem juga dapat menimbulkan ketidakpastian pasar dan penyesuaian strategi bisnis pengguna
                                  jasa. Kondisi tersebut berpotensi menyebabkan fluktuasi volume pengangkutan, perubahan pola
                                  kontrak, serta tekanan terhadap tarif jasa angkutan yang diterima Perseroan. Fluktuasi tersebut
                                  secara langsung dapat berdampak pada kinerja keuangan Perseroan, terutama pada penurunan
                                  pendapatan usaha, utilisasi armada, serta margin laba./A significant decline in commodity prices
                                  may lead producers or cargo owners to reduce production volumes, delay shipments, or implement
                                  distribution efficiencies, thereby reducing the demand for maritime transportation services.
                                  Conversely, sharp increases in prices may also create market uncertainty and prompt adjustments
                                  in customers’ business strategies. These conditions may result in fluctuations in cargo volumes,
                                  changes in contract structures, and pressure on freight rates received by the Company. Such
                                  fluctuations may directly impact the Company’s financial performance, particularly in terms of
                                  revenue, fleet utilization, and profit margins.

 3.    Risiko Keselamatan         Kegiatan usaha Perseroan di bidang pelayaran dan jasa penunjang offshore memiliki karakteristik
       dan Lingkungan             risiko keselamatan kerja dan risiko lingkungan yang inheren, mengingat operasional dilakukan di
       (HSE) / Safety and         laut dengan tingkat kompleksitas teknis dan kondisi alam yang dinamis. Risiko tersebut mencakup
       Environmental Risks        antara lain kecelakaan kerja yang melibatkan awak kapal, tabrakan atau kandasnya kapal,
                                  kebakaran di atas kapal, tumpahan bahan bakar atau muatan, serta insiden operasional lainnya
                                  yang dapat menimbulkan dampak terhadap keselamatan manusia maupun lingkungan laut./The
                                  Company’s business activities in the shipping and offshore support sectors carry inherent safety
                                  and environmental risks, given that operations are conducted at sea with high technical complexity
                                  and dynamic environmental conditions. These risks include, among others, work-related accidents
                                  involving crew members, vessel collisions or groundings, onboard fires, fuel or cargo spills, and
                                  other operational incidents that may impact both human safety and the marine environment.




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        Ikhtisar Perseroan               Laporan Manajemen                     Profil Perusahaan
        Company Summary                  Management Report                     Company Profile




 4.   Risiko Regulasi dan       Kegiatan usaha Perseroan berada dalam industri yang diatur secara ketat dan tunduk pada
      Perizinan / Regulatory    berbagai peraturan perundang-undangan di bidang pelayaran, keselamatan maritim, perlindungan
      and Licensing Risks       lingkungan, serta ketenagakerjaan, baik di tingkat nasional maupun internasional. Di tingkat
                                nasional, operasional Perseroan mengikuti ketentuan yang ditetapkan oleh Kementerian
                                Perhubungan Republik Indonesia beserta instansi teknis terkait, sementara di tingkat internasional
                                Perseroan juga harus memperhatikan standar dan konvensi yang dikeluarkan oleh International
                                Maritime Organization (IMO) dan badan terkait lainnya./The Company’s business operates in a
                                highly regulated industry and is subject to various laws and regulations in the areas of shipping,
                                maritime safety, environmental protection, and labor, both at the national and international
                                levels. Domestically, the Company’s operations comply with regulations issued by the Ministry of
                                Transportation of the Republic of Indonesia and other relevant authorities, while internationally,
                                the Company must also adhere to standards and conventions set by the International Maritime
                                Organization (IMO) and other related bodies.

                                Apabila Perseroan tidak dapat memenuhi ketentuan regulasi atau mengalami kendala dalam
                                memperoleh, memperpanjang, atau mempertahankan izin usaha yang diperlukan, maka kegiatan
                                operasional dapat dibatasi, ditangguhkan, atau dikenakan sanksi administratif dan/atau denda.
                                Kondisi tersebut berpotensi berdampak pada kinerja keuangan, reputasi, serta kemampuan
                                Perseroan dalam memenuhi kewajiban kepada pelanggan dan pelanggan./Failure to comply with
                                applicable regulations or challenges in obtaining, renewing, or maintaining the required licenses
                                may result in restrictions or suspension of operations, as well as administrative sanctions and/or
                                fines. Such conditions may adversely affect the Company’s financial performance, reputation, and
                                its ability to fulfill obligations to customers.

5.    Risiko Ketersediaan       Operasional kapal Perseroan sangat bergantung pada ketersediaan awak kapal yang kompeten,
      dan Kinerja Awak Kapal    berpengalaman, serta memiliki sertifikasi sesuai ketentuan yang berlaku. Industri pelayaran
      / Crew Availability and   menghadapi tantangan dalam memperoleh dan mempertahankan sumber daya manusia yang
      Performance Risk          memenuhi standar kompetensi nasional maupun internasional, termasuk persyaratan sertifikasi
                                yang diatur berdasarkan konvensi internasional dan ketentuan otoritas maritim. Keterbatasan
                                jumlah tenaga kerja terampil, persaingan antar perusahaan pelayaran dalam merekrut awak kapal,
                                serta dinamika pasar tenaga kerja dapat mempengaruhi ketersediaan kru yang sesuai dengan
                                kebutuhan operasional Perseroan./The Company’s vessel operations are highly dependent on
                                the availability of competent, experienced crew members who hold certifications in accordance
                                with applicable regulations. The shipping industry faces challenges in recruiting and retaining
                                human resources that meet both national and international competency standards, including
                                certification requirements governed by international conventions and maritime authorities. The
                                limited availability of skilled personnel, competition among shipping companies in recruiting
                                crew members, and labor market dynamics may affect the availability of personnel that meet the
                                Company’s operational needs.

                                Apabila Perseroan tidak dapat memastikan ketersediaan dan kinerja awak kapal yang memadai,
                                maka kelancaran operasional, tingkat keselamatan pelayaran, serta kepatuhan terhadap regulasi
                                dapat terdampak. Kondisi tersebut berpotensi menimbulkan keterlambatan layanan, peningkatan
                                biaya operasional, sanksi dari regulator, hingga dampak reputasi di mata pelanggan dan
                                pelanggan./If the Company is unable to ensure the availability and performance of adequate crew
                                members, operational continuity, maritime safety, and regulatory compliance may be adversely
                                affected. Such conditions may result in service delays, increased operational costs, regulatory
                                sanctions, and potential reputational impact among customers.

6.    Risiko Kenaikan Biaya     Dalam menjalankan kegiatan usahanya, Perseroan menghadapi risiko kenaikan biaya operasional
      Operasional / Risk of     yang dapat berdampak langsung terhadap struktur biaya dan profitabilitas. Komponen biaya
      Increasing Operational    utama dalam industri pelayaran dan offshore antara lain meliputi harga bahan bakar kapal
      Costs                     (bunker), biaya perawatan dan perbaikan armada, biaya docking berkala, premi asuransi, biaya
                                awak kapal, serta biaya logistik dan operasional lainnya yang bersifat rutin maupun insidental.
                                Apabila kenaikan biaya operasional tersebut tidak dapat diimbangi dengan penyesuaian tarif
                                jasa atau efisiensi operasional yang memadai, maka margin keuntungan dan kinerja keuangan
                                Perseroan dapat tertekan./ In conducting its business activities, the Company is exposed to the risk
                                of increasing operational costs, which may directly impact its cost structure and profitability. Key
                                cost components in the shipping and offshore industries include vessel fuel (bunker) prices, fleet
                                maintenance and repair costs, periodic docking expenses, insurance premiums, crew costs, as well
                                as other routine and incidental logistics and operational expenses. If such increases in operational
                                costs cannot be offset by adjustments in service tariffs or sufficient operational efficiencies, the
                                Company’s profit margins and overall financial performance may be adversely affected.




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                  Management Discussion and Analysis                     Corporate governance                   Sustainability Report




7.     Risiko Persaingan          Industri pelayaran dan jasa penunjang offshore merupakan industri yang sangat kompetitif dengan
       Usaha / Business           tingkat persaingan yang tinggi, baik dari perusahaan pelayaran nasional maupun internasional.
       Competition Risk           Perseroan bersaing dengan pelaku usaha lain yang mungkin memiliki armada yang lebih besar,
                                  jangkauan operasional yang lebih luas, pengalaman yang lebih panjang, serta struktur biaya yang
                                  lebih efisien. Kondisi tersebut dapat memberikan keunggulan kompetitif bagi pesaing dalam
                                  menawarkan tarif yang lebih rendah, fleksibilitas layanan yang lebih tinggi, maupun kapasitas
                                  armada yang lebih beragam./The shipping and offshore support services industry is highly
                                  competitive, with intense competition from both domestic and international players. The Company
                                  competes with other operators that may have larger fleets, broader operational coverage, longer
                                  industry experience, and more efficient cost structures. These factors may provide competitors
                                  with a competitive advantage in offering lower tariffs, greater service flexibility, and more diverse
                                  fleet capacities.

                                  Persaingan yang semakin ketat juga berpotensi mendorong peningkatan biaya pemasaran,
                                  investasi pada armada dan teknologi, serta kebutuhan peningkatan standar pelayanan untuk
                                  mempertahankan daya saing. Apabila Perseroan tidak dapat mengelola risiko persaingan ini secara
                                  efektif, maka kinerja usaha, tingkat utilisasi armada, serta profitabilitas dapat terdampak secara
                                  material./ Increasing competition may also lead to higher marketing costs, increased investment
                                  in fleet and technology, and the need to enhance service standards to maintain competitiveness. If
                                  the Company is unable to effectively manage this competitive risk, its business performance, fleet
                                  utilization, and profitability may be materially affected.

8.     Risiko Investasi           Perseroan selalu berupaya dalam melakukan investasi dan/atau aksi korporasi dalam rangka
       atau Aksi Korporasi        pengembangan kegiatan usaha, termasuk pengelolaan dan pengoperasian armada kapal yang
       / Investment and           dimiliki, yaitu bulk carrier MV Majestic Laksono serta kapal pipe laying and lifting vessel Gunanusa
       Corporate Action Risk      Hai Long 106. Ketidaktepatan dalam pengambilan keputusan investasi, termasuk dalam aspek
                                  perencanaan, pelaksanaan, dan pengelolaan aset, dapat berdampak negatif terhadap kinerja
                                  operasional, arus kas, serta kondisi keuangan Perseroan./ The Company continuously undertakes
                                  investments and/or corporate actions to support the development of its business activities,
                                  including the management and operation of its fleet, such as the bulk carrier MV Majestic Laksono
                                  and the pipe-laying and lifting vessel Gunanusa Hai Long 106. Any misjudgment in investment
                                  decision-making, including in planning, execution, and asset management, may adversely affect
                                  the Company’s operational performance, cash flow, and overall financial condition.

9.     Risiko Pembiayaan dan      Kegiatan usaha pelayaran dan jasa penunjang offshore merupakan industri yang padat modal
       Likuiditas / Financing     (capital intensive) dan memerlukan investasi yang signifikan, baik untuk pengadaan armada,
       and Liquidity Risk         perawatan dan docking kapal, peningkatan standar keselamatan, maupun pemenuhan kebutuhan
                                  modal kerja sehari-hari. Dalam menjalankan operasional dan rencana pengembangan usaha,
                                  Perseroan bergantung pada kombinasi pendanaan internal serta pembiayaan dari lembaga
                                  keuangan atau pihak ketiga lainnya./The shipping and offshore support services business is a
                                  capital-intensive industry that requires significant investment, including for fleet acquisition,
                                  vessel maintenance and docking, enhancement of safety standards, and the fulfillment of daily
                                  working capital needs. In carrying out its operations and business development plans, the Company
                                  relies on a combination of internal funding and financing from financial institutions or other third
                                  parties.

                                  Dalam hal terjadi keterbatasan akses pembiayaan, kenaikan suku bunga, atau ketidakseimbangan
                                  arus kas dapat menimbulkan tekanan terhadap likuiditas Perseroan. Hal ini dapat berdampak pada
                                  kinerja keuangan, seperti peningkatan beban keuangan dan terganggunya operasional./ In the
                                  event of limited access to financing, rising interest rates, or imbalances in cash flow, the Company
                                  may face liquidity pressures. Such conditions may adversely affect the Company’s financial
                                  performance, including increased financing costs and potential disruptions to operations.

10.    Risiko Perubahan           Industri pelayaran dan jasa penunjang minyak dan gas bumi merupakan industri yang terus
       Teknologi /Technology      mengalami perkembangan teknologi, termasuk di bidang navigasi, efisiensi bahan bakar, sistem
       Change Risk                keselamatan kapal, serta teknologi instalasi bawah laut (offshore). Ketidakmampuan Perseroan
                                  dalam mengantisipasi dan beradaptasi terhadap perkembangan teknologi tersebut dapat
                                  mengakibatkan penurunan daya saing, efisiensi operasional, serta kemampuan Perseroan dalam
                                  mempertahankan maupun memperoleh kontrak baru./ The shipping and oil and gas offshore
                                  support services industry is continuously evolving in terms of technology, including advancements
                                  in navigation, fuel efficiency, vessel safety systems, and offshore subsea installation technologies.
                                  The Company’s inability to anticipate and adapt to these technological developments may result
                                  in reduced competitiveness, lower operational efficiency, and diminished ability to retain existing
                                  contracts or secure new ones.




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        Company Summary                  Management Report                      Company Profile




11.   Risiko Perekonomian      Kinerja Perseroan dipengaruhi oleh kondisi perekonomian makro dan global, termasuk
      Secara Makro             pertumbuhan ekonomi, stabilitas politik dan ekonomi, fluktuasi harga komoditas seperti batu
      dan Global /             bara dan nikel, serta tingkat aktivitas industri minyak dan gas bumi. Perlambatan pertumbuhan
      Macroeconomic and        ekonomi, baik secara global maupun domestik, dapat menurunkan permintaan atas jasa angkutan
      Global Economic Risk     laut dan jasa penunjang offshore, yang pada akhirnya dapat berdampak terhadap pendapatan dan
                               profitabilitas Perseroan./ The Company’s performance is influenced by macroeconomic and global
                               economic conditions, including economic growth, political and economic stability, fluctuations in
                               commodity prices such as coal and nickel, as well as the level of activity in the oil and gas industry.
                               A slowdown in economic growth, both globally and domestically, may reduce demand for maritime
                               transportation and offshore support services, which in turn may adversely affect the Company’s
                               revenue and profitability.

12.   Risiko Perubahan Kurs    Sebagian pendapatan Perseroan diperoleh dalam mata uang Dolar Amerika Serikat (USD),
      Valuta Asing / Foreign   sedangkan sebagian biaya operasional dan kewajiban Perseroan timbul dalam Rupiah maupun
      Exchange Rate Risk       mata uang asing lainnya. Fluktuasi nilai tukar Rupiah terhadap mata uang asing, khususnya
                               USD dapat memberikan dampak terhadap kinerja keuangan, arus kas, dan tingkat profitabilitas
                               Perseroan./ A portion of the Company’s revenue is denominated in United States Dollars (USD),
                               while certain operating expenses and obligations are incurred in Indonesian Rupiah and other
                               foreign currencies. Fluctuations in the exchange rate of the Rupiah against foreign currencies,
                               particularly the USD, may impact the Company’s financial performance, cash flow, and overall
                               profitability.

13.   Risiko Force Majeure /   Perseroan menghadapi risiko terjadinya peristiwa force majeure, yaitu kejadian-kejadian di luar
      Force Majeure Risk       kendali dan kemampuan Perseroan untuk mencegahnya, seperti cuaca ekstrem, badai, gempa
                               bumi, tsunami, banjir, kebakaran besar, konflik geopolitik, gangguan keamanan di wilayah
                               operasional, pandemi, maupun gangguan global lainnya. Mengingat kegiatan operasional
                               Perseroan dilakukan di wilayah perairan dan bergantung pada kondisi alam serta stabilitas
                               lingkungan eksternal, kejadian tersebut berpotensi menghambat pelayaran, menunda jadwal
                               pengiriman, atau bahkan menghentikan operasional untuk sementara waktu./ The Company is
                               exposed to force majeure risks, defined as events beyond its control and ability to prevent, such
                               as extreme weather, storms, earthquakes, tsunamis, floods, major fires, geopolitical conflicts,
                               security disruptions in operational areas, pandemics, and other global disturbances. Given that
                               the Company’s operations are conducted at sea and depend on environmental conditions as well
                               as external stability, such events may disrupt shipping activities, delay delivery schedules, or even
                               temporarily halt operations.

14.   Risiko Tuntutan Atau     Dalam menjalankan kegiatan usahanya, Perseroan dapat menghadapi tuntutan atau gugatan
      Gugatan Hukum /          hukum yang timbul dari kegiatan operasional pelayaran, hubungan kontraktual dengan pihak
      Legal Claims and         ketiga, klaim asuransi, maupun kepatuhan terhadap peraturan perundang-undangan yang berlaku,
      Litigation Risk          baik di dalam maupun luar negeri. Tuntutan atau gugatan hukum yang bersifat material dapat
                               berdampak terhadap kondisi keuangan, reputasi, serta kelangsungan operasional Perseroan./ In
                               the course of its business operations, the Company may be exposed to legal claims or litigation
                               arising from shipping activities, contractual relationships with third parties, insurance claims, as
                               well as compliance with applicable laws and regulations, both domestically and internationally.
                               Material legal claims or litigation may adversely affect the Company’s financial condition,
                               reputation, and operational continuity.




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                                      RISIKO YANG BERHUBUNGAN DENGAN SAHAM PERSEROAN
                                                Risks Related to the Company’s Shares

1.     Risiko Fluktuasi Harga     Harga pasar Saham Baru dapat berfluktuasi secara signifikan akibat bergejolaknya pasar modal
       Saham / Risk of Price      Indonesia dan pasar modal dunia. Perubahan harga pasar perusahaan-perusahaan tersebut
       Price Fluctuations         seringkali tidak berhubungan dengan kinerja operasional perusahan-perusahan tersebut. Faktor-
                                  faktor berikut ini dapat, diantaranya, meningkatkan ketidakstabilan harga perdagangan Saham
                                  Baru setelah PMHMETD I/The market price of the New Shares may fluctuate significantly due
                                  to volatility in the Indonesian and global capital markets. Changes in the market prices of such
                                  companies are often not directly related to their operational performance. The following factors,
                                  among others, may contribute to increased volatility in the trading price of the New Shares after
                                  the Rights Issue (PMHMETD I):
                                  •     Perbedaan antara hasil keuangan yang diperkirakan oleh para investor dan para analis dengan
                                        hasil operasi/usaha Perseroan;/Differences between financial results anticipated by investors
                                        and analysts and the Company’s actual operating results;
                                  •     Perubahan dalam rekomendasi dan persepsi para analis perusahaan-perusahaan sekuritas
                                        mengenai Perseroan,/Changes in recommendations and perceptions by securities analysts
                                        regarding the Company;
                                  •     Perkembangan dan perubahan peraturan perundang-undangan yang berlaku dalam industri
                                        terkait;/Developments and changes in applicable laws and regulations within the relevant
                                        industry;
                                  •     Pengumuman akuisisi, pembentukan perusahaan patungan dan kemitraan strategis yang
                                        signifikan;/Announcements of acquisitions, joint ventures, and significant strategic partnerships;
                                  •     Likuiditas pasar untuk saham baru;/Market liquidity for the New Shares;
                                  •     Fluktuasi harga pasar modal Indonesia dan dunia;/Fluctuations in the Indonesian and global
                                        capital markets;
                                  •     Perubahan ekonomi dan kondisi pasar di Indonesia secara umum;/Changes in general economic
                                        and market conditions in Indonesia;
                                  •     Perubahan dalam komitmen modal; dan/Changes in capital commitments; and
                                  •     Penjualan saham tambahan atau efek lainnya oleh Perseroan./Additional issuances or sales of
                                        shares or other securities by the Company.

2.     Risiko Terkait             Kemampuan Perseroan untuk membayar dividen di kemudian hari, yang akan dibayarkan dalam
       Pembagian Dividen /        Rupiah, bergantung pada perolehan laba, kondisi keuangan, arus kas, kebutuhan modal kerja dan
       Dividend Distribution      belanja modal dikemudian hari, sehingga ada kemungkinan Perseroan tidak membagikan dividen
       Risk                       dengan memperhatikan keputusan RUPS di kemudian hari./ The Company’s ability to pay dividends
                                  in the future, which will be distributed in Rupiah, depends on its earnings, financial condition,
                                  cash flow, future working capital requirements, and capital expenditures. Accordingly, there is a
                                  possibility that the Company may not distribute dividends, subject to the resolution of the GMS.

3.     Risiko Terkait Dilusi      Memperhatikan bahwa jumlah saham yang diterbitkan dalam PMHMETD I ini sebanyak-banyaknya
       pada Penerbitan            12.757.011.806 (dua belas miliar tujuh ratus lima puluh tujuh juta sebelas ribu delapan ratus
       Saham Baru atau            enam) Saham Baru, maka pemegang saham yang tidak melaksanakan haknya untuk membeli
       Efek Ekuitas Lain          Saham Baru yang ditawarkan dalam PMHMETD I ini sesuai dengan HMETD-nya akan mengalami
       oleh Perseroan /           penurunan persentase kepemilikan saham atau Dilusi atas saham Perseroan sampai dengan
       Risk of Dilution from      maksimum 73,76% (tujuh puluh tiga koma tujuh enam persen)./ Considering that the number of
       the Issuance of New        shares to be issued in this Rights Issue (PMHMETD I) is up to 12,757,011,806 (twelve billion seven
       Shares or Other Equity     hundred fifty-seven million eleven thousand eight hundred six) New Shares, shareholders who do
       Securities by the          not exercise their rights to subscribe for the New Shares offered in the PMHMETD I in accordance
       Company                    with their pre-emptive rights will experience a reduction in their percentage of share ownership, or
                                  dilution, of up to a maximum of 73.76% (seventy-three point seven six percent).




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        Company Summary              Management Report             Company Profile




Tinjauan Penerapan Sistem Manajemen Risiko                Internal Control System Assessment Results
Direksi bersama Unit Audit Internal melakukan             The Board of Directors, together with the Internal
pemantauan berkala atas pelaksanaan sistem                Audit Unit, conducted periodic monitoring of the
manajemen risiko untuk menilai efektivitasnya dan         implementation of the risk management system to assess
mengidentifikasi area yang perlu diperbaiki. Hasil        its effectiveness and identify areas for improvement. The
pemantauan tersebut dilaporkan kepada Dewan               results of such monitoring were reported to the Board of
Komisaris dan Komite Audit sebagai dasar peningkatan      Commissioners and the Audit Committee as a basis for
sistem dan pengambilan keputusan strategis guna           enhancing the system and for strategic decision-making
meminimalkan potensi dampak risiko terhadap kinerja       aimed at minimizing the potential impact of risks on the
Perseroan.                                                Company’s performance.


Pernyataan Dewan Komisaris dan Direksi atas               Statement by the Board of Commissioners and
Kecukupan Sistem Manajemen Risiko                         Directors regarding the Adequacy of the Risk
                                                          Management System
Pada tahun 2025, Dewan Komisaris dan Direksi              In 2025, the Board of Commissioners and the Board of
melakukan penilaian atas efektivitas sistem manajemen     Directors conducted an assessment of the effectiveness
risiko Perseroan dan menilai bahwa sistem tersebut        of the Company’s risk management system and
telah berfungsi dengan baik tanpa ditemukan risiko        concluded that the system had operated effectively, with
material yang berdampak signifikan. Meski demikian,       no material risks identified that would have a significant
Dewan Komisaris dan Direksi tetap mendorong perbaikan     impact. Nevertheless, the Board of Commissioners and
berkelanjutan guna menjaga stabilitas operasional dan     the Board of Directors continue to encourage continuous
kesiapan menghadapi tantangan di masa mendatang.          improvements to maintain operational stability and
                                                          enhance readiness in addressing future challenges.


Perkara Penting dan Sanksi Administrasi                   Significant Cases and Administrative
                                                          Sanctions
Sepanjang tahun 2025, Perseroan, Dewan Komisaris,         Throughout 2025, neither the Company, the Board of
Direksi, Manajemen, maupun karyawan tidak tercatat        Commissioners, the Board of Directors, management,
terlibat dalam perkara penting, baik perkara perdata      nor employees were involved in any material legal cases,
maupun pidana. Selain itu, selama periode yang sama,      whether civil or criminal. In addition, during the same
Perseroan juga tidak menerima sanksi administratif dari   period, the Company did not receive any administrative
regulator.                                                sanctions from regulators.


Kode Etik [IDX-G.07]                                      Code of Conduct [IDX-G.07]
Perseroan menetapkan Kode Etik sebagai pedoman            The Company has established a Code of Ethics as a
bagi seluruh organ dalam menjalankan perilaku dan         guideline for all corporate organs in conducting their
tindakan secara profesional. Penerapan Kode Etik          behavior and actions in a professional manner. The
bertujuan untuk meminimalkan potensi pelanggaran,         implementation of the Code of Ethics aims to minimize
baik di lingkungan internal maupun eksternal, serta       potential violations, both internally and externally, and
memastikan setiap keputusan dan aktivitas operasional     to ensure that all decisions and operational activities
mencerminkan integritas dan prinsip-prinsip yang          reflect integrity and the principles upheld by the
dijunjung oleh Perseroan.                                 Company.




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                  Management Discussion and Analysis             Corporate governance               Sustainability Report




Pemberlakuan Kode Etik                                         Enforcement of the Code of Ethics
Kode Etik Perseroan berlaku bagi seluruh insan                 The Company’s Code of Ethics applies to all members
perusahaan, termasuk Dewan Komisaris dan Direksi,              of the Company, including the Board of Commissioners
sebagai pedoman dalam menjaga etika, integritas, dan           and the Board of Directors, and serves as a guideline in
profesionalisme dalam setiap kegiatan Perseroan.               upholding ethics, integrity, and professionalism in all
                                                               Company activities.


Sosialisasi Kode Etik                                          Code of Conduct Dissemination
Perseroan melakukan sosialisasi Kode Etik secara               The Company continuously disseminates the Code of
berkelanjutan melalui kegiatan internal, yang telah            Ethics through internal activities, beginning from the
diperkenalkan sejak proses penerimaan karyawan                 employee onboarding process through to the signing
hingga penandatanganan perjanjian kerja. Selain itu,           of employment agreements. In addition, the Company
Perseroan memanfaatkan berbagai media komunikasi               utilizes various internal communication channels to
internal untuk memastikan pemahaman dan penerapan              ensure consistent understanding and implementation of
Kode Etik secara konsisten oleh seluruh karyawan.              the Code of Ethics by all employees.


Sanksi dan Jumlah Pelanggaran Kode Etik                        Sanctions and Number of Code of Ethics Violations
Perseroan menegakkan kepatuhan terhadap Kode                   The Company enforces compliance with the Code of
Etik melalui penerapan sanksi yang objektif, adil, dan         Ethics through the application of objective, fair, and
proporsional sesuai dengan tingkat pelanggaran dan             proportionate sanctions in accordance with the severity
dampaknya. Sanksi dikenakan berdasarkan ketentuan              and impact of the violations. Sanctions are imposed
yang berlaku, mulai dari teguran hingga tindakan               based on applicable provisions, ranging from warnings
hukum apabila diperlukan. Pada tahun 2025, Perseroan           to legal actions when necessary. In 2025, the Company
tidak menerima pengaduan atau laporan atas dugaan              did not receive any complaints or reports regarding
pelanggaran Kode Etik.                                         alleged violations of the Code of Ethics.


Kebijakan Anti-Korupsi                     dan         Anti-   Anti-Corruption and Anti-Gratuity Policy
Gratifikasi [IDX-G.07]                                         [IDX-G.07]

Perseroan      menegaskan         komitmennya        untuk     The Company reaffirms its commitment to conducting
menjalankan kegiatan usaha secara transparan serta             business activities in a transparent manner and free
bebas dari praktik korupsi, kolusi, nepotisme (KKN),           from corruption, collusion, nepotism (KKN), and
dan gratifikasi. Komitmen tersebut didukung melalui            gratification practices. This commitment is supported
penerapan kebijakan anti-korupsi dan anti-gratifikasi          through the implementation of anti-corruption and
serta penyampaian nilai-nilai integritas kepada seluruh        anti-gratification policies, as well as the communication
karyawan melalui berbagai sarana komunikasi internal.          of integrity values to all employees through various
Pada tahun 2025, Perseroan belum menyelenggarakan              internal communication channels. In 2025, the
pelatihan atau sosialisasi anti-korupsi dan anti-gratifikasi   Company did not conduct any specific or structured anti-
secara khusus dan terstruktur. Meskipun demikian,              corruption and anti-gratification training or socialization
Perseroan tetap menjunjung tinggi prinsip integritas dan       programs. Nevertheless, the Company continues to
kepatuhan dalam seluruh aktivitas operasional, serta           uphold the principles of integrity and compliance in all
berkomitmen untuk terus memperkuat implementasi                operational activities and remains committed to further
kebijakan tersebut pada periode mendatang.                     strengthening the implementation of these policies in
                                                               future periods.




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          Company Summary              Management Report             Company Profile




Kebijakan Insider Trading [IDX-G.08]                       Insider Trading Policy [IDX-G.08]
Perseroan menerapkan kebijakan pencegahan insider          The Company implements an insider trading prevention
trading dengan mengacu pada ketentuan peraturan            policy in accordance with applicable laws and
perundang-undangan yang berlaku, termasuk Peraturan        regulations, including Financial Services Authority
Otoritas Jasa Keuangan No. 78/POJK.04/2017 dan             Regulation No. 78/POJK.04/2017 and Law No. 8 of 1995
Undang-Undang No. 8 Tahun 1995 tentang Pasar               on Capital Markets, to prevent the misuse of material
Modal, guna mencegah penyalahgunaan informasi              information that is not yet publicly available. This policy
material yang belum tersedia untuk publik. Kebijakan       ensures that any securities transactions conducted by
ini memastikan bahwa setiap transaksi efek oleh pihak      insiders are carried out transparently and in compliance
yang tergolong sebagai orang dalam dilakukan secara        with prevailing regulations, and is supported by periodic
transparan dan sesuai ketentuan yang berlaku, serta        socialization efforts to enhance understanding and
didukung oleh sosialisasi berkala untuk meningkatkan       maintain stakeholder confidence in the Company and
pemahaman dan menjaga kepercayaan pemangku                 the capital market.
kepentingan terhadap Perseroan dan pasar modal.


Sistem Pelaporan Pelanggaran                               Whistleblowing System
Perseroan menerapkan sistem pelaporan pelanggaran          The Company has implemented a Whistleblowing System
(Whistleblowing System/WBS) sebagai sarana bagi            (WBS) as a channel for employees to report suspected
karyawan untuk melaporkan dugaan pelanggaran.              violations. The implementation of this system aims to
Penerapan sistem ini bertujuan untuk meningkatkan          enhance compliance with the Company’s regulations
kepatuhan terhadap Peraturan Perusahaan dan Kode           and Code of Ethics, as well as to support the creation of
Etik serta mendukung terciptanya lingkungan kerja yang     a work environment founded on integrity.
berintegritas.


Prosedur Pelaporan                                         Reporting Procedures
Setiap pelapor dapat menyampaikan laporan kepada           Each whistleblower may submit a report to the Company
Perseroan melalui saluran resmi sebagai berikut.           through the following official channels.


Telepon     : (021) 2585 8070                              Phone    : (021) 2585 8070
Situs Web : www.cbre.co.id                                 Website : www.cbre.co.id
Email       : corporate.secretary@cbre.co.id               Email    : corporate.secretary@cbre.co.id


Seluruh saluran pelaporan dirancang untuk memberikan       All reporting channels are designed to provide ease
kemudahan akses bagi pelapor dalam menyampaikan            of access for whistleblowers in submitting suspected
dugaan pelanggaran. Setiap laporan yang diterima akan      violations. Each report received will be reviewed and
ditelaah dan ditindaklanjuti oleh Unit Audit Internal      followed up by the Internal Audit Unit in accordance
sesuai dengan prosedur yang berlaku. Penanganan            with applicable procedures. Reports will be handled
laporan dilakukan sepanjang laporan disertai dengan        provided that they are accompanied by adequate and
informasi dan bukti yang memadai serta dapat               accountable information and evidence, to ensure that
dipertanggungjawabkan, guna memastikan proses              the handling process is conducted objectively and
penanganan berjalan secara objektif dan profesional.       professionally.




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                  Management Discussion and Analysis          Corporate governance              Sustainability Report




Penanganan Pelanggaran                                      Handling Violations
Unit Audit Internal memproses setiap laporan                The Internal Audit Unit processes every violation report
pelanggaran yang diterima melalui saluran resmi secara      received through the official channels in a professional
profesional dan objektif, diawali dengan verifikasi awal    and objective manner, commencing with an initial
atas keabsahan laporan. Laporan yang dinilai valid          verification of the report’s validity. Reports deemed
akan ditindaklanjuti dan dilaporkan kepada Direksi,         valid are followed up and reported to the Board of
Dewan Komisaris, dan Komite Audit untuk menentukan          Directors, the Board of Commissioners, and the Audit
langkah penanganan dan sanksi yang diperlukan. Untuk        Committee to determine the appropriate handling
menjaga kredibilitas sistem pelaporan, Perseroan dapat      measures and sanctions. To maintain the credibility
memberikan sanksi kepada pelapor apabila laporan            of the reporting system, the Company may impose
terbukti tidak benar atau disampaikan dengan itikad         sanctions on whistleblowers if a report is proven to be
yang tidak baik.                                            false or submitted in bad faith.


Perlindungan Bagi Pelapor                                   Protection for Whistleblowers
Perseroan menjamin perlindungan bagi pelapor dengan         The Company ensures protection for whistleblowers
menjaga kerahasiaan identitas dan informasi yang            by maintaining the confidentiality of their identities
disampaikan serta memberikan perlindungan dari              and the information submitted, as well as providing
segala bentuk tekanan atau intimidasi. Seluruh pihak        protection from any form of pressure or intimidation. All
yang terlibat dalam penanganan laporan wajib menjaga        parties involved in the handling of reports are required
kerahasiaan data, kecuali untuk keperluan tindak            to safeguard the confidentiality of data, except where
lanjut, guna mendorong transparansi dan memastikan          disclosure is necessary for follow-up actions, in order to
pelapor merasa aman dalam menyampaikan dugaan               promote transparency and ensure that whistleblowers
pelanggaran.                                                feel safe in reporting suspected violations.


Sanksi dan Jumlah Laporan Pelanggaran                       Sanctions and Number of Violation Reports
Perseroan menerapkan mekanisme sanksi berjenjang            The Company applies a graduated sanction mechanism
sesuai tingkat pelanggaran, mulai dari teguran lisan,       based on the severity of violations, ranging from verbal
pemberian Surat Peringatan (SP) 1, 2, dan 3, hingga         warnings, issuance of Warning Letters (WL) Level 1, 2,
Pemutusan Hubungan Kerja (PHK) serta pelaporan              and 3, to termination of employment and reporting to
kepada pihak berwenang untuk pelanggaran yang               the relevant authorities for serious violations. In 2025,
bersifat serius. Pada tahun 2025, Perseroan tidak           the Company did not receive any reports of violations
menerima laporan pelanggaran yang dilakukan oleh            committed by its principal organs or employees.
organ utama maupun karyawan.


Penerapan Pedoman                       Tata       Kelola   Implementation of Public Company
Perusahaan Terbuka                                          Governance Guidelines
Penerapan pedoman tata kelola perusahaan terbuka            The implementation of the Good Corporate
merujuk pada Surat Edaran Otoritas Jasa Keuangan            Governance guidelines for public companies refers to
No. 32/SEOJK.04/2015, dengan implementasi sebagai           Financial Services Authority Circular Letter No. 32/
berikut.                                                    SEOJK.04/2015, with the following implementation
                                                            measures.




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       Company Summary                  Management Report                     Company Profile




                    Aspek/Prinsip/Rekomendasi                   Pemenuhan                         Keterangan
 No.
                  Aspect/Principle/Recommendation               Fulfillment                       Description

       Hubungan Perusahaan Terbuka dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham
 I.
       Relationship between the Public Company and Shareholders in Guaranteeing Shareholders’ Rights
       Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
 1.
       Increasing the Value of Convening General Meeting of Shareholders (GMS)
       a. Perusahaan terbuka memiliki cara atau prosedur        Terpenuhi     Perseroan memiliki prosedur pengumpulan suara
          teknis pengumpulan suara (voting), baik secara         Fulfilled    apabila musyawarah untuk mufakat tidak tercapai,
          terbuka maupun tertutup yang mengedepankan                          yaitu melalui pemungutan suara. / The Company
          independensi, dan kepentingan Pemegang Saham.                       has a procedure for collecting votes if deliberation
          / Public company has technical voting methods                       to reach a consensus is not reached, namely
          or procedures, either open or close, prioritizing                   through voting.
          independence and interest of Shareholders.
       b. Seluruh anggota Direksi dan anggota Dewan             Terpenuhi     Seluruh anggota Dewan Komisaris dan Direksi telah
          Komisaris perusahaan terbuka hadir dalam RUPS          Fulfilled    menghadiri RUPS Tahunan dan RUPS Luar Biasa./
          Tahunan. / All members of Board of Directors and                    All members of the Board of Commissioners and
          members of Board of Commissioners of public                         the Board of Directors attended the Annual General
          company attend the Annual GMS.                                      Meeting of Shareholders and the Extraordinary
                                                                              General Meeting of Shareholders.
       c. Ringkasan risalah RUPS tersedia dalam situs web       Terpenuhi     Perseroan telah menginformasikan risalah RUPS
          perusahaan terbuka paling sedikit selama 1 tahun.      Fulfilled    pada situs web Perseroan. / The Company has
          / Summary of GMS Minutes is available on the                        announced the minutes of the GMS on the
          Company’s Website for at least 1 year.                              Company's website.
       Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor
 2.
       Increasing the Communication Quality between the Public Company and Shareholders or Investors
       a. Perusahaan terbuka memiliki suatu kebijakan           Terpenuhi     Perseroan menyediakan informasi bagi Pemegang
          komunikasi dengan Pemegang Saham atau investor.        Fulfilled    Saham atau investor pada situs web www.cbre.
          / Public company has communication policy with                      co.id pada tab Hubungan Investor. / The Company
          the Shareholders or Investors.                                      provides information for Shareholders or investors
                                                                              on the website, under the Investor Relations tab.
       b. Perusahaan terbuka mengungkapkan kebijakan            Terpenuhi     Perseroan telah mengungkapkan kebijakan
          komunikasi perusahaan terbuka dengan Pemegang          Fulfilled    komunikasi pada situs web dan situs web Bursa
          Saham atau investor dalam situs web. / Public                       Efek Indonesia./ The Company has disclosed its
          company discloses the communication policy of                       communication policy on its website and the
          public company with Shareholders or investors on                    Indonesian Stock Exchange website.
          the website.
       Fungsi dan Peran Dewan Komisaris
 II.
       Functions and Roles of the Board of Commissioners
       Memperkuat Keanggotaan dan Komposisi Dewan Komisaris
 1.
       Strengthening Board of Commissioners’ Membership and Composition
       a. Penentuan jumlah anggota Dewan Komisaris              Terpenuhi     Perseroan telah mempertimbangkan jumlah
          mempertimbangkan kondisi perusahaan terbuka.           Fulfilled    anggota Dewan Komisaris sesuai dengan
          / The determination of number of Board of                           kondisi perusahaan terbuka. / The Company has
          Commissioners considers the condition of the                        considered the number of members of the Board
          public company.                                                     of Commissioners according to the condition of the
                                                                              Public Company.
       b. Penentuan komposisi anggota Dewan Komisaris           Terpenuhi     Perseroan telah menentukan anggota Dewan
          memperhatikan        keberagaman          keahlian,    Fulfilled    Komisaris dengan memperhatikan keberagaman,
          pengetahuan, dan pengalaman yang dibutuhkan. /                      keahlian, pengetahuan, dan pengalaman disesuaikan
          The determination of composition of the Board of                    dengan kebijakan dari perusahaan sejenis dan
          Commissioners considers the diversity of expertise,                 peraturan yang berlaku. / The Company has
          knowledge, and experience required.                                 determined members of the Board of Commissioners
                                                                              based on the diversity of expertise, knowledge, and
                                                                              experience according to policies of similar companies
                                                                              and applicable regulations.




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                        Aspek/Prinsip/Rekomendasi                 Pemenuhan                        Keterangan
  No.
                      Aspect/Principle/Recommendation             Fulfillment                      Description

         Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
   2.
         Increasing the Quality of Implementation of Board of Commissioners’ Duties and Responsibilities
         a. Dewan Komisaris mempunyai kebijakan penilaian         Terpenuhi     Dewan Komisaris telah mempunyai kebijakan
            sendiri (self-assessment) untuk menilai kinerja        Fulfilled    penilaian sendiri (self-assessment) untuk menilai
            Dewan Komisaris./ The Board of Commissioners has                    kinerja Dewan Komisaris sebagaimana tercantum
            self-assessment policy to assess the performance                    dalam Laporan Tahunan Perseroan. / The Board
            of the Board of Commissioners.                                      of Commissioners already has self-assessment
                                                                                policy to assess the performance of Board of
                                                                                Commissioners as stated in the Company’s Annual
                                                                                Report.
         b. Kebijakan penilaian sendiri (self-assessment) untuk   Terpenuhi     Kebijakan penilaian sendiri (self-assessment)
            menilai kinerja Dewan Komisaris, diungkapkan           Fulfilled    Dewan Komisaris telah diungkapkan di dalam
            melalui Laporan Tahunan perusahaan terbuka. /                       Laporan Tahunan ini. / The Board of Commissioners'
            Self-assessment policy to assess the performance                    self-assessment policy has been disclosed in this
            of the Board of Commissioners is disclosed through                  Annual Report.
            the Annual Report of the public company.
         c. Dewan Komisaris mempunyai kebijakan terkait           Terpenuhi     Kebijakan pengunduran diri Dewan Komisaris
            pengunduran diri anggota Dewan Komisaris apabila       Fulfilled    tercantum dalam Anggaran Dasar Perseroan
            terlibat dalam kejahatan keuangan./ The Board of                    yang disusun berdasarkan Peraturan Otoritas Jasa
            Commissioners has policy related to resignation of                  Keuangan No. 33/POJK.04/2014 tentang Direksi
            members of Board of Commissioners if involved in                    dan Dewan Komisaris Emiten atau Perusahaan
            financial crime.                                                    Publik. / The Board of Commissioners’ policy on
                                                                                resignation is stated in the Company’s Articles
                                                                                of Association, this policy is prepared based on
                                                                                Financial Services Authority Regulation No. 33/
                                                                                POJK.04/2014 regarding the Issuer’s or Public
                                                                                Company’s Board of Directors and Board of
                                                                                Commissioners.
         d. Dewan Komisaris atau Komite yang menjalankan          Terpenuhi     Perseroan telah menyusun dan menjalankan
            Fungsi Nominasi dan Remunerasi menyusun                Fulfilled    kebijakan suksesi dalam proses nominasi anggota
            kebijakan suksesi dalam proses nominasi                             Dewan Komisaris dan Direksi melalui Fungsi
            anggota Direksi. / The Board of Commissioners                       Nominasi dan Remunerasi. / The Company has
            or Committees performing the Nomination and                         prepared and implement succession policy in the
            Remuneration Functions prepares a succession                        nomination process of members of the Board of
            policy in the nomination process of members of                      Commisssioners and Board of Directors through
            Board of Directors.                                                 Nomination and Remuneration function.
         Fungsi dan Peran Direksi
  III.
         Functions and Roles of the Board of Directors
         Memperkuat Keanggotaan dan Komposisi Direksi
   1.
         Strengthening Board of Directors’ Membership and Composition
         a. Penentuan         jumlah       anggota     Direksi    Terpenuhi     Perseroan telah mempertimbangkan jumlah
            mempertimbangkan kondisi perusahaan terbuka,           Fulfilled    anggota Direksi sesuai dengan kondisi perusahaan
            serta efektifitas dalam pengambilan keputusan. /                    terbuka. / The Company has determined the number
            The determination of number of Directors considers                  of members of the Board of Directors according to
            the condition of the public company, and the                        the public company’s condition.
            effectiveness of decision making.
         b. Penentuan      komposisi     anggota   Direksi        Terpenuhi     Perseroan telah menentukan anggota Direksi
            memperhatikan,       keberagaman     keahlian,         Fulfilled    dengan memperhatikan keberagaman, keahlian,
            pengetahuan, dan pengalaman yang dibutuhkan.                        pengetahuan, dan pengalaman disesuaikan dengan
            / The determination of composition of Board                         kebijakan dari perusahaan sejenis dan peraturan
            of Directors considers the range of expertise,                      yang berlaku. / The Company has determined
            knowledge, and experience required.                                 the members of the Board of Directors by
                                                                                considering the diversity of expertise, knowledge,
                                                                                and experience, according to policies of similar
                                                                                companies and applicable regulations.




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                    Aspek/Prinsip/Rekomendasi                    Pemenuhan                         Keterangan
 No.
                  Aspect/Principle/Recommendation                Fulfillment                       Description

       c. Anggota Direksi yang membawahi bidang akuntansi        Terpenuhi     Perseroan mempunyai anggota Direksi yang
          atau keuangan memiliki keahlian dan/ atau               Fulfilled    membawahi bidang akuntasi atau keuangan, yaitu
          pengetahuan di bidang akuntansi.                                     Direktur Keuangan yang dijabat oleh Suminto Husin
                                                                               Giman.
          Members of Board of Directors in charge of                           The Company has a Board of Directors’ member
          accounting or finance have the skills and/or                         in charge of accounting or finance, namely the
          knowledge in accounting.                                             Finance Director held by Suminto Husin Giman.
       Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi
 2.
       Increasing the Implementation Quality of Board of Directors’ Duties and Responsibilities
       a. Direksi mempunyai kebijakan penilaian sendiri (self-   Terpenuhi     Direksi telah mempunyai kebijakan penilaian sendiri
          assessment) untuk menilai kinerja Direksi.              Fulfilled    (self-assessment) untuk menilai kinerja Direksi
                                                                               sebagaimana tercantum dalam Laporan Tahunan
                                                                               Perseroan.
          The Board of Directors has self-assessment policy                    The Board of Directors already has self-assessment
          to assess the Board of Directors’ performance.                       policy to assess the performance of Board of
                                                                               Directors as stated in the Company’s Annual Report.
       b. Kebijakan penilaian sendiri (self-assessment)          Terpenuhi     Kebijakan penilaian sendiri (self-assessment) Direksi
          untuk menilai kinerja Direksi diungkapkan melalui       Fulfilled    telah diungkapkan di dalam Laporan Tahunan ini.
          Laporan Tahunan perusahaan terbuka.
          Self-assessment policy to assess the Board of                        The Board of Directors' self-assessment policy has
          Directors’ performance is disclosed through the                      been disclosed in this Annual Report.
          public company’s Annual Report.
       c. Direksi mempunyai kebijakan terkait pengunduran        Terpenuhi     Kebijakan pengunduran diri Direksi tercantum
          diri anggota Direksi apabila terlibat dalam             Fulfilled    dalam Anggaran Dasar Perseroan yang disusun
          kejahatan keuangan.                                                  berdasarkan Peraturan Otoritas Jasa Keuangan
                                                                               No. 33/POJK.04/2014 tentang Direksi dan Dewan
                                                                               Komisaris Emiten atau Perusahaan Publik.
          The Board of Directors has policy related to                         The Board of Directors’ policy on resignation is
          resignation of members of Board of Directors if                      stated in the Company’s Articles of Association,
          involved in financial crime.                                         this policy is prepared based on Financial Services
                                                                               Authority Regulation No. 33/POJK.04/2014
                                                                               regarding the Issuer’s or Public Company’s Board
                                                                               of Directors and Board of Commissioners.
       Partisipasi Pemangku Kepentingan
 IV.
       Stakeholders Participation
       Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
 1.
       Increasing the Corporate Governance Aspect through Stakeholders Participation
       a. Perusahaan terbuka memiliki kebijakan untuk            Terpenuhi     Terdapat di dalam Peraturan Perusahaan.
          mencegah terjadinya insider trading.                    Fulfilled
          The public company has a policy to prevent the                       Available in the Company Regulations.
          occurrence of insider trading.
       b. Perusahaan terbuka memiliki kebijakan anti korupsi     Terpenuhi     Terdapat di dalam Peraturan Perusahaan.
          dan anti-fraud.
          Public company has anti-corruption and anti-fraud       Fulfilled    Available in the Company Regulations.
          policies.




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                        Aspek/Prinsip/Rekomendasi                  Pemenuhan                         Keterangan
  No.
                      Aspect/Principle/Recommendation              Fulfillment                       Description

         c. Perusahaan terbuka memiliki kebijakan tentang          Terpenuhi     Terdapat di dalam Peraturan Perusahaan.
            seleksi dan peningkatan kemampuan pemasok atau
            vendor.
            Public company has a policy on selection and            Fulfilled    Available in the Company Regulations.
            improvement of supplier or vendor capabilities.
         d. Perusahaan terbuka memiliki kebijakan tentang          Terpenuhi     Terdapat di dalam Peraturan Perusahaan.
            pemenuhan hak-hak kreditur.
            Public company has a policy on the fulfillment of       Fulfilled    Available in the Company Regulations.
            creditors’ rights.
         e. Perusahaan terbuka memiliki kebijakan sistem           Terpenuhi     Terdapat di dalam Peraturan Perusahaan.
            whistleblowing.
            Public company has policies of whistleblowing           Fulfilled    Available in the Company Regulations.
            system.
         f. Perusahaan terbuka memiliki kebijakan pemberian        Terpenuhi     Perseroan belum membentuk kebijakan terkait
            insentif jangka panjang kepada Direksi dan              Fulfilled    pemberian insentif jangka panjang bagi Direksi
            karyawan.                                                            maupun karyawan.
            The public company has a long-term incentive                         The company has not yet established a policy
            policy to the Board of Directors and employees.                      regarding the provision of long-term incentives for
                                                                                 the Board of Directors or employees.
         Keterbukaan Informasi
   V.
         Information Disclosure
         Meningkatkan Pelaksanaan Keterbukaan Informasi
   1.
         Increasing the Implementation of Information Disclosure
         a. Perusahaan terbuka memanfaatkan penggunaan             Terpenuhi     Saat ini, Perseroan menggunakan situs web
            teknologi informasi secara lebih luas selain situs      Fulfilled    Perseroan dan keterbukaan informasi di Bursa Efek
            web sebagai media keterbukaan informasi.                             Indonesia untuk menyampaikan informasi bagi
            Public company utilizes the use of information                       pemangku kepentingan.
            technology more broadly, in addition to the website,                 Currently, the Company utilizes its corporate
            as a media of information disclosure.                                website and disclosure of information through
                                                                                 the Indonesia Stock Exchange to communicate
                                                                                 information to stakeholders.
         b. Laporan      Tahunan       perusahaan       terbuka    Terpenuhi     Informasi terkait pemilik manfaat akhir Perseroan
            mengungkapkan pemilik manfaat akhir dalam               Fulfilled    telah diungkapkan pada Bab Profil Perusahaan, sub
            kepemilikan saham perusahaan terbuka paling                          bab Pemegang Saham Utama dan Pengendali di
            sedikit 5%, selain pengungkapan pemilik manfaat                      dalam Laporan Tahunan ini.
            akhir dalam kepemilikan saham perusahaan terbuka
            melalui Pemegang Saham Utama dan Pengendali.
            Public Company's Annual Report discloses the
            ultimate beneficial owner of public company's share                  Information regarding the Company’s ultimate
            ownership of at least 5%, other than the disclosure                  beneficial owners has been disclosed in the
            of ultimate beneficial owner in the share ownership                  Company Profile chapter, under the Principal and
            of public company through Main and Controlling                       Controlling Shareholders subsection, of this Annual
            Shareholders.                                                        Report.




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          Laporan
          Keberlanjutan
          Sustainability Report




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        Company Summary             Management Report             Company Profile




Sambutan Direksi
Message from the Board
of Directors




    Suminto Husin
    Giman

    Direktur Utama
    President Director




Pemegang Saham dan Pemangku                              Dear Shareholders and Esteemed
Kepentingan yang Terhormat                               Stakeholders,

Direksi meyakini bahwa penerapan prinsip-prinsip Good    The Board of Directors believes that the implementation
Corporate Governance (GCG) merupakan fondasi utama       of Good Corporate Governance (GCG) principles serves
dalam menjaga keberlanjutan usaha serta meningkatkan     as a fundamental foundation in maintaining business
nilai Perseroan dalam jangka panjang. Oleh karena itu,   sustainability and enhancing the Company’s long-term
Direksi berkomitmen untuk senantiasa menjalankan         value. Accordingly, the Board of Directors is committed
kegiatan usaha secara transparan, akuntabel,             to consistently conducting business activities in a
bertanggung jawab, independen, dan berkeadilan, sesuai   transparent, accountable, responsible, independent,
dengan peraturan perundang-undangan yang berlaku.        and fair manner, in compliance with applicable laws and
                                                         regulations.




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                  Management Discussion and Analysis        Corporate governance              Sustainability Report




Dalam pelaksanaannya, Direksi memastikan bahwa            In its implementation, the Board of Directors ensures
setiap proses pengambilan keputusan dilakukan secara      that all decision-making processes are carried out
profesional dan berdasarkan prinsip kehati-hatian,        professionally and based on the principle of prudence,
dengan tetap mengedepankan kepentingan Perseroan          while prioritizing the interests of the Company and all
serta seluruh pemangku kepentingan. Direksi juga terus    stakeholders. The Board of Directors also continues
memperkuat sistem pengendalian internal, manajemen        to strengthen the internal control system, risk
risiko, serta fungsi kepatuhan guna meminimalkan          management, and compliance functions to minimize
potensi risiko yang dapat mempengaruhi kinerja dan        potential risks that may affect the Company’s
reputasi Perseroan.                                       performance and reputation.


Selain itu, Direksi mendorong terciptanya budaya          In addition, the Board of Directors promotes the
perusahaan yang menjunjung tinggi integritas, etika       development of a corporate culture that upholds
bisnis, sesuai peraturan yang berlaku.                    integrity and business ethics, in accordance with
                                                          applicable regulations.


Kebijakan untuk Merespon Tantangan                        Policy to Address Challenges in Meeting
dalam Pemenuhan Strategi                                  Sustainability Strategy [POJK51-D1.A]
Keberlanjutan [POJK51-D1.A]
Dalam rangka merespons berbagai tantangan dalam           In responding to the various challenges in implementing
penerapan strategi keberlanjutan sepanjang tahun 2025,    its sustainability strategy throughout 2025, the Company
Perseroan menetapkan kebijakan yang proaktif, adaptif,    adopted proactive, adaptive, and data-driven policies as
dan berbasis data sebagai bagian dari pengelolaan         an integral part of sustainable business management.
usaha yang berkelanjutan. Kebijakan keberlanjutan         The Company’s sustainability policies are designed to
Perseroan diarahkan untuk mengelola risiko operasional,   manage operational, safety, and compliance risks in an
keselamatan, dan kepatuhan secara terintegrasi dengan     integrated manner, while taking into account economic,
mempertimbangkan dampak ekonomi, sosial, dan              social, and environmental impacts, as well as alignment
lingkungan, serta keselarasan dengan tujuan jangka        with the Company’s long-term objectives.
panjang Perseroan.


Kebijakan tersebut diwujudkan melalui penguatan           These policies are implemented through the
efisiensi operasional, penerapan praktik pengelolaan      enhancement of operational efficiency, the application
sumber daya yang bertanggung jawab, serta integrasi       of responsible resource management practices,
prinsip keberlanjutan dalam proses pengambilan            and the integration of sustainability principles into
keputusan strategis. Perseroan juga mendorong             strategic decision-making processes. The Company also
pemanfaatan inovasi teknologi dan penyempurnaan           encourages the utilization of technological innovation
proses bisnis untuk mendukung pengurangan dampak          and the refinement of business processes to support the
lingkungan dan peningkatan efektivitas operasional.       reduction of environmental impacts and the improvement
Selain    itu,   Perseroan   memperkuat      kebijakan    of operational effectiveness. In addition, the Company
manajemen risiko keberlanjutan melalui peningkatan        strengthened its sustainability risk management policies
kapasitas internal, termasuk program pelatihan dan        by enhancing internal capacity, including through training
pengembangan kompetensi, guna memastikan kesiapan         programs and competency development, to ensure
organisasi dalam merespons perubahan dan tantangan        organizational readiness in responding to changes and
secara terukur. Melalui kebijakan tersebut, Perseroan     challenges in a measured manner. Through these policies,
berupaya memastikan keberlanjutan kinerja usaha di        the Company endeavors to ensure the sustainability of
tengah dinamika operasional dan regulasi yang terus       its business performance amid evolving operational and
berkembang.                                               regulatory dynamics.




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Tantangan dalam Penerapan                                  Challenges in Sustainability
Keberlanjutan [POJK51-D1.B]                                Implementation [POJK51-D1.B]
Sejalan dengan tantangan operasional dan kebijakan         In line with the operational challenges and sustainability
keberlanjutan yang telah ditetapkan, Direksi mencermati    policies that have been established, the Board of
bahwa penerapan strategi keberlanjutan Perseroan           Directors observes that the implementation of the
masih menghadapi sejumlah tantangan, baik dari             Company’s sustainability strategy continues to face a
aspek struktural, operasional, maupun tata kelola. Dari    number of challenges, spanning structural, operational,
sisi operasional, sebagian armada yang dioperasikan        and governance aspects. From an operational
telah berusia di atas 10 tahun, yang berdampak pada        perspective, a portion of the Company’s fleet is more
meningkatnya kebutuhan pemeliharaan, pengendalian          than 10 years old, resulting in increased maintenance
biaya operasional, serta pemenuhan standar                 requirements, heightened operating cost control, and
keselamatan dan kepatuhan regulasi yang semakin            the need to comply with increasingly stringent safety and
ketat. Kondisi tersebut menuntut perencanaan dan           regulatory standards. These conditions necessitate more
pengelolaan armada yang lebih terintegrasi agar prinsip    integrated fleet planning and management to ensure
keberlanjutan dapat diterapkan secara konsisten tanpa      that sustainability principles can be applied consistently
mengganggu keandalan operasional.                          without compromising operational reliability.

Dari sisi internal, Perseroan masih memerlukan             From an internal standpoint, the Company continues to
pematangan kerangka kerja keberlanjutan, termasuk          require further maturation of its sustainability framework,
penajaman prioritas isu material, penguatan koordinasi     including the refinement of material issue prioritization,
lintas fungsi, serta peningkatan sistem pemantauan         the strengthening of cross-functional coordination, and
kinerja. Keterbatasan kapasitas dan keahlian sumber        the enhancement of performance monitoring systems.
daya manusia di bidang keberlanjutan juga menjadi          Limitations in capacity and expertise in sustainability-
perhatian dalam mendukung implementasi program             related areas within the Company’s human resources
secara optimal di seluruh unit kerja.                      also remain a consideration in supporting the optimal
                                                           implementation of sustainability programs across all
                                                           work units.

Di sisi eksternal, Perseroan beroperasi dalam lingkungan   Externally, the Company operates in an increasingly
yang semakin dinamis, ditandai dengan perubahan            dynamic environment, characterized by rapid
regulasi yang cepat, meningkatnya ekspektasi pemangku      regulatory changes, rising stakeholder expectations for
kepentingan terhadap transparansi, serta intensitas        transparency, and intensifying business competition.
persaingan usaha yang semakin ketat. Menyikapi hal         In response, the Board of Directors encourages the
tersebut, Direksi mendorong penguatan tata kelola          gradual strengthening of sustainability governance
keberlanjutan secara bertahap melalui peningkatan          through the enhancement of internal competencies,
kompetensi internal, penguatan kolaborasi antar unit       closer collaboration among work units, and continuous
kerja, serta pemantauan perkembangan kebijakan yang        monitoring of relevant policy developments, in
relevan, guna mendukung penerapan keberlanjutan            order to support a more consistent and sustainable
yang lebih konsisten dan berkelanjutan.                    implementation of sustainability initiatives.


Pencapaian Kinerja Keberlanjutan [POJK51-                  Sustainability Performance
D1.B]
                                                           Achievement [POJK51-D1.B]
Aspek Ekonomi                                              Economic Aspect
Sepanjang tahun 2025, Perseroan berupaya menjaga           Throughout 2025, the Company endeavored to maintain
ketahanan keuangan di tengah dinamika usaha yang           its financial resilience amid the business dynamics
dihadapi. Perseroan membukukan pendapatan sebesar          encountered. The Company recorded revenue of Rp55.16
Rp55,16 miliar, menurun dibandingkan dengan Rp62,17        billion, a decrease compared to Rp62.17 billion in the
miliar pada tahun sebelumnya. Sejalan dengan penurunan     previous year. In line with this decline, gross profit also
tersebut, laba bruto juga turun sebesar 74,95% menjadi     decreased by 74.95% to Rp1.52 billion, while net loss for
Rp1,52 miliar, sementara rugi neto tahun berjalan          the year increased to Rp70.35 billion. Nevertheless, the
meningkat menjadi Rp70,35 miliar. Meskipun demikian,       Company continued to maintain prudent and effective
Perseroan tetap berupaya menjaga pengelolaan struktur      capital structure management.
permodalan secara baik dan efektif.




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                  Management Discussion and Analysis       Corporate governance               Sustainability Report




Sejalan dengan upaya tersebut, Perseroan memperoleh      In line with these efforts, the Company obtained
persetujuan Pemegang Saham untuk melakukan               Shareholders’ approval to issue new shares through
penerbitan saham baru melalui mekanisme Hak              a Rights Issue mechanism (Pre-emptive Rights).
Memesan Efek Terlebih Dahulu (HMETD). Aksi korporasi     This corporate action is intended to strengthen the
ini ditujukan untuk memperkuat struktur permodalan       Company’s capital structure and support its strategic
dan mendukung kebutuhan strategis Perseroan,             requirements, including operational sustainability and
termasuk keberlanjutan operasional dan pengembangan      future business development.
usaha ke depan.


Aspek Sosial                                             Social Aspect
Dalam menjalankan aspek sosial keberlanjutan,            In implementing the social aspects of sustainability, the
Perseroan melanjutkan berbagai inisiatif yang telah      Company continued its ongoing initiatives while giving
berjalan dengan tetap memperhatikan kebutuhan,           due consideration to the needs, rights, and obligations
hak, dan kewajiban seluruh pemangku kepentingan,         of all stakeholders, and ensuring compliance with
serta memastikan kepatuhan terhadap kebijakan dan        applicable policies and regulations. The Company
ketentuan yang berlaku. Perseroan menyelaraskan          aligns its social policies with Environmental, Social, and
kebijakan sosial dengan prinsip Environment, Social,     Governance (ESG) principles as part of its efforts to build
and Governance (ESG) sebagai bagian dari upaya           an inclusive, responsible, and sustainable organization.
membangun organisasi yang inklusif, bertanggung
jawab, dan berkelanjutan.


Di bidang sumber daya manusia, Perseroan berfokus        In the area of human resources, the Company focuses on
pada pengembangan kompetensi dan profesionalisme         enhancing employee competence and professionalism
karyawan melalui penerapan kebijakan ketenagakerjaan     through the implementation of fair and equitable
yang adil dan setara. Perseroan menjunjung tinggi        employment policies. The Company upholds respect
penghormatan terhadap Hak Asasi Manusia (HAM),           for human rights, enforces a zero-tolerance policy
menerapkan kebijakan tanpa toleransi terhadap            toward discrimination and harassment, and promotes
diskriminasi dan pelecehan, serta mendorong              diversity and inclusivity, including equal opportunities
keberagaman dan inklusivitas, termasuk kesetaraan        for both male and female employees. The fulfillment
kesempatan antara karyawan pria dan wanita.              of employees’ rights and welfare, whether assigned
Pemenuhan hak dan kesejahteraan karyawan, baik yang      onshore or offshore, continues to be ensured through
bertugas di darat maupun di laut, terus dijaga melalui   the provision of health and employment benefits,
penyediaan jaminan kesehatan dan ketenagakerjaan,        regular medical examinations, and occupational safety
pemeriksaan kesehatan, serta fasilitas keselamatan       facilities.
kerja.


Dalam hubungan dengan pihak eksternal, Perseroan         In its relationships with external parties, the Company
membangun kemitraan yang transparan dan berorientasi     builds transparent and long-term partnerships with
jangka panjang dengan pelanggan, mitra usaha, dan        customers, business partners, and the community.
masyarakat. Perseroan juga menyediakan sarana            The Company also provides grievance mechanisms
pengaduan yang dikelola secara profesional dengan        that are managed professionally, with an emphasis on
mengedepankan prinsip keterbukaan informasi dan          information transparency and continuous improvement
peningkatan kualitas layanan. Sementara itu, hubungan    in service quality. Meanwhile, relationships with business
dengan mitra usaha dijalankan berdasarkan prinsip        partners are conducted based on the principles of
keadilan, akuntabilitas, serta kepatuhan terhadap        fairness, accountability, and compliance with the terms
perjanjian kerja sama yang telah disepakati.             of the agreed cooperation arrangements.




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Aspek Lingkungan                                             Environmental Aspect
Pada tahun 2025, Perseroan menjalankan berbagai              In 2025, the Company implemented various environmental
inisiatif pengelolaan lingkungan sekaligus memperkuat        management initiatives while strengthening awareness
kesadaran dan kolaborasi dengan mitra usaha. Dengan          and collaboration with its business partners. With a
fokus pada upaya meminimalkan dampak operasional             focus on minimizing operational impacts as well as
serta meningkatkan efisiensi dan kepatuhan terhadap          enhancing efficiency and compliance with applicable
ketentuan yang berlaku, Perseroan menerapkan                 regulations, the Company adopted environmentally
praktik ramah lingkungan melalui peningkatan efisiensi       friendly practices through improved energy efficiency
energi di kapal dan kantor, pengelolaan armada yang          on vessels and at office facilities, emission-oriented
berorientasi pada pengurangan emisi, serta pengelolaan       fleet management, and the responsible management of
limbah dan efluen secara bertanggung jawab sesuai            waste and effluents in accordance with prevailing laws
dengan peraturan perundang-undangan. Selain itu,             and regulations. In addition, the Company continues
Perseroan terus mendorong budaya ramah lingkungan            to foster an environmentally conscious culture in the
di lingkungan kerja melalui pengurangan penggunaan           workplace through the reduction of single-use plastics
plastik sekali pakai dan kertas, serta penerapan inisiatif   and paper consumption, as well as the implementation
eco-efficiency sebagai bagian dari upaya memperkuat          of eco-efficiency initiatives as part of its ongoing
kinerja lingkungan secara berkelanjutan.                     efforts to strengthen environmental performance on a
                                                             sustainable basis.


Strategi Keberlanjutan [POJK51-D1.C]                         Sustainability Strategy [POJK51-D1.C]
Perseroan menempatkan prinsip ESG sebagai kerangka           The Company places ESG principles as the primary
utama dalam menjalankan kegiatan usaha. Integrasi            framework in conducting its business activities. ESG
ESG dilakukan secara menyeluruh agar setiap keputusan        integration is carried out comprehensively to ensure
operasional dan strategis mempertimbangkan dampak            that every operational and strategic decision takes
terhadap lingkungan, masyarakat, dan tata kelola             into account its impact on the environment, society,
perusahaan. Dalam aspek lingkungan, Perseroan                and corporate governance. From an environmental
berfokus pada upaya penurunan dampak operasional             perspective, the Company focuses on reducing
melalui peningkatan efisiensi energi, pemanfaatan            operational impacts through enhanced energy
teknologi yang lebih bersih, serta pengelolaan armada        efficiency, the adoption of cleaner technologies, and
yang berorientasi ramah lingkungan guna menjaga              environmentally oriented fleet management, in order to
keseimbangan antara kinerja usaha dan perlindungan           maintain a balance between business performance and
lingkungan.                                                  environmental protection.


Pada dimensi sosial dan tata kelola, Perseroan               From the social and governance dimensions, the
mendorong terciptanya lingkungan kerja yang aman,            Company promotes the creation of a safe, inclusive, and
inklusif, dan produktif melalui pengembangan                 productive working environment through competency
kompetensi serta pemenuhan kesejahteraan karyawan,           development and the fulfillment of employee
sekaligus memperluas peran dalam pengembangan                welfare, while also expanding its role in community
masyarakat di sekitar wilayah operasional. Dari sisi         development in areas surrounding its operations. From
tata kelola, Perseroan terus memperkuat transparansi         a governance standpoint, the Company continues to
dan akuntabilitas melalui penyempurnaan sistem               strengthen transparency and accountability through the
pelaporan, penyesuaian kebijakan internal dengan             enhancement of reporting systems, the alignment of
perkembangan regulasi, serta penguatan penerapan             internal policies with evolving regulatory developments,
sistem pengendalian internal dan manajemen risiko            and the reinforcement of internal control systems
yang konsisten dan selaras dengan kebijakan nasional         and risk management practices that are implemented
dan Tujuan Pembangunan Berkelanjutan (SDGs).                 consistently and aligned with national policies and the
                                                             Sustainable Development Goals (SDGs).




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Penutup                                                           Closing
Perseroan menyampaikan terima kasih kepada Dewan                  The Company extends its appreciation to the Board
Komisaris atas pelaksanaan fungsi pengawasan selama               of Commissioners for the execution of its supervisory
periode berjalan, serta kepada seluruh organ Perseroan            function during the period under review, as well as to all
dan para pemangku kepentingan atas dukungan dan                   corporate organs and stakeholders for their support and
kepercayaan dalam pelaksanaan prinsip keberlanjutan               trust in the implementation of sustainability principles
sepanjang tahun 2025. Perseroan berkomitmen untuk                 throughout 2025. The Company remains committed
terus mengelola usaha secara bertanggung jawab                    to conducting its business responsibly by maintaining
dengan menjaga keseimbangan antara kinerja ekonomi,               a balanced approach between economic performance,
kontribusi sosial, dan kepedulian terhadap lingkungan.            social contribution, and environmental stewardship.


                                                       Atas Nama Direksi,
                                            On behalf of the Board of Directors,




                                                   Suminto Husin Giman
                                                        Direktur Utama
                                                       President Director




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Komitmen Keberlanjutan
Sustainability Commitment
Perseroan memandang praktik keberlanjutan sebagai         The Company views sustainability practices as an integral
bagian dari pengelolaan usaha yang dilaksanakan           part of business management that are implemented
secara bertahap, dengan mempertimbangkan skala            progressively, taking into account the scale of
usaha, tahapan pengembangan bisnis, dan karakteristik     operations, the stage of business development, and the
kegiatan operasional Perseroan. Komitmen tersebut         characteristics of the Company’s operational activities.
diwujudkan melalui penerapan praktik usaha yang           This commitment is realized through the application
bertanggung jawab dan kepatuhan terhadap ketentuan        of responsible business practices and compliance with
peraturan perundang-undangan yang berlaku, guna           applicable laws and regulations, in order to support the
mendukung penciptaan nilai jangka panjang bagi para       creation of long-term value for stakeholders.
pemangku kepentingan.



Tata Kelola Keberlanjutan
Sustainability Governance
Perseroan mengintegrasikan prinsip keberlanjutan          The Company integrates sustainability principles into
ke dalam proses bisnis melalui penerapan tata kelola      its business processes through the implementation
yang transparan, akuntabel, dan berintegritas, guna       of transparent, accountable, and integrity-driven
menciptakan nilai jangka panjang bagi para pemangku       governance, with the aim of creating long-term value
kepentingan. Pelaksanaan keberlanjutan dilakukan          for stakeholders. Sustainability implementation is
secara bertahap melalui peningkatan efisiensi             carried out progressively through enhanced operational
operasional, pengelolaan risiko lingkungan dan sosial,    efficiency, the management of environmental and social
serta peninjauan berkala atas kebijakan dan program       risks, and periodic reviews of policies and programs to
yang dijalankan agar tetap selaras dengan ketentuan       ensure continued alignment with applicable regulations
yang berlaku dan praktik terbaik, serta didukung          and best practices, supported by collaboration with
oleh kolaborasi dengan pemangku kepentingan               relevant stakeholders. Information regarding the overall
terkait. Informasi terkait penerapan tata kelola secara   implementation of corporate governance is disclosed in
keseluruhan telah diungkapkan pada Bab Tata Kelola        the Corporate Governance chapter of this Annual Report
Perusahaan di dalam Laporan Tahunan dan Laporan           and Sustainability Report.
Keberlanjutan ini.


Tantangan        Penerapan                   Prinsip      Challenges in Implementing
Berkelanjutan [POJK51-E.5]
                                                          Sustainability Principles [POJK51-E.5]
Seiring dengan implementasi praktik keberlanjutan         Along with the progressive implementation of
yang dilakukan secara bertahap, Perseroan menghadapi      sustainability practices, the Company faces several
beberapa tantangan yang berasal dari faktor internal      challenges arising from both internal and external
maupun eksternal. Dari sisi internal, tantangan           factors. From an internal perspective, the challenges
terutama berkaitan dengan penguatan proses                are primarily related to strengthening the process of
penetapan isu prioritas dan topik material, serta         identifying priority issues and material topics, as well
penyempurnaan perencanaan dan pelaksanaan program         as refining the planning and execution of sustainability
keberlanjutan agar semakin terarah dan efektif. Selain    programs to ensure they become more focused and
itu, pengelolaan keberlanjutan saat ini masih dilakukan   effective. In addition, sustainability management is
secara terintegrasi lintas fungsi, sehingga koordinasi,   currently carried out in an integrated, cross-functional
pemantauan, dan evaluasi atas inisiatif yang dijalankan   manner; therefore, coordination, monitoring, and
terus ditingkatkan seiring dengan keterbatasan sumber     evaluation of the initiatives being implemented continue
daya dan kompetensi khusus di bidang keberlanjutan.       to be enhanced in light of limitations in resources and
                                                          specialized sustainability competencies.




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                  Management Discussion and Analysis                    Corporate governance               Sustainability Report




Dari sisi eksternal, dinamika regulasi dan kebijakan                  From an external perspective, evolving regulations
pemerintah, peningkatan ekspektasi pemangku                           and government policies, increasing stakeholder
kepentingan terhadap transparansi dan akuntabilitas,                  expectations for transparency and accountability, and
serta kondisi persaingan usaha yang semakin kompetitif                an increasingly competitive business environment
menjadi tantangan tersendiri bagi Perseroan. Di tengah                present further challenges for the Company. Amid the
kebutuhan untuk menjaga kinerja operasional dan                       need to maintain operational performance and financial
stabilitas keuangan, adopsi inisiatif keberlanjutan yang              stability, the adoption of sustainability initiatives that
memerlukan investasi jangka panjang perlu dilakukan                   require long-term investment must be undertaken in
secara selektif dan terukur. Meskipun demikian,                       a selective and measured manner. Nevertheless, the
Perseroan terus berupaya memperkuat penerapan                         Company continues to strengthen its sustainability
keberlanjutan melalui peningkatan kapasitas internal,                 implementation through the enhancement of internal
penguatan koordinasi lintas fungsi, serta penerapan                   capacity, improved cross-functional coordination, and
langkah perbaikan secara berkelanjutan, guna                          the application of continuous improvement measures,
memastikan bahwa praktik keberlanjutan tetap selaras                  to ensure that sustainability practices remain aligned
dengan strategi dan tujuan jangka panjang Perseroan.                  with the Company’s long-term strategy and objectives.


Penanggung                  Jawab       Keberlanjutan                 Person in Charge of Sustainability
[POJK51-E.1]                                                          [POJK51-E.1]

Perseroan belum membentuk unit khusus yang                            The Company has not yet established a dedicated unit
menangani      pengelolaan     keberlanjutan,     namun               responsible for sustainability management; however,
penerapan prinsip keberlanjutan dilaksanakan sebagai                  the implementation of sustainability principles is
tanggung jawab kolektif seluruh organ perusahaan.                     carried out as a collective responsibility of all corporate
Dewan Komisaris menjalankan fungsi pengawasan                         organs. The Board of Commissioners performs its
untuk memastikan kebijakan dan program keberlanjutan                  oversight function to ensure that sustainability policies
yang diusulkan Direksi selaras dengan ketentuan dan                   and programs proposed by the Board of Directors are
tujuan Perseroan, sementara Direksi bersama organ                     aligned with applicable regulations and the Company’s
pendukung bertanggung jawab atas pelaksanaan inisiatif                objectives, while the Board of Directors, together with
keberlanjutan sesuai kebijakan internal, regulasi yang                supporting organs, is responsible for implementing
berlaku, dan praktik terbaik, agar prinsip keberlanjutan              sustainability initiatives in accordance with internal
terintegrasi dalam kegiatan usaha Perseroan.                          policies, prevailing regulations, and best practices, to
                                                                      ensure that sustainability principles are integrated into
                                                                      the Company’s business activities.


Pengembangan Kompetensi                            terkait            Development of Competencies Related
Keberlanjutan [POJK51-E.2]                                            to Sustainability [POJK51-E.2]
Pada tahun 2025, Perseroan telah mengikutsertakan                     In 2025, the Company involved its corporate organs
organ perusahaan dalam kegiatan pengembangan                          in sustainability-related competency development
kompetensi terkait keberlanjutan, baik melalui pelatihan              activities, conducted through both internally organized
yang diselenggarakan secara internal maupun bekerja                   training programs and collaborations with third parties,
sama dengan pihak ketiga, yang diuraikan sebagai                      as outlined below.
berikut.



                    Topik                        Penyelanggara                 Waktu dan Tempat                Peserta
                    Topic                          Organizer                    Date and Place                Participant

Managing Global Trade and Empowering                                       The Caroline Astor Ballroom -
                                               Bursa Efek Indonesia                                         Amanda Octania
Business Strategy                                                             St Regis Hotel Jakarta




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Penilaian          Risiko   atas    Penerapan     Keberlanjutan            Risk Assessment of the Implementation of Sustainable
[POJK.51-E3]
                                                                           Finance [POJK.51-E3]
Direksi bersama Unit Audit Internal melakukan                              The Board of Directors, together with the Internal
pemantauan berkala atas sistem manajemen risiko untuk                      Audit Unit, conducted periodic monitoring of the risk
memastikan efektivitas identifikasi dan penanganan                         management system to ensure the effectiveness of
risiko. Pada tahun 2025, Dewan Komisaris dan Direksi                       risk identification and mitigation. In 2025, the Board
menilai bahwa sistem manajemen risiko Perseroan                            of Commissioners and the Board of Directors assessed
telah berjalan dengan baik dan tidak ditemukan                             that the Company’s risk management system had been
risiko material yang berdampak signifikan terhadap                         operating effectively and that no material risks with
operasional, dengan komitmen untuk terus melakukan                         significant impact on operations were identified, while
penyempurnaan secara berkelanjutan. Penjelasan lebih                       remaining committed to continuous improvement.
lanjut mengenai profil risiko dan langkah mitigasinya                      Further information regarding the risk profile and
telah dijelaskan pada Bab Tata Kelola Perusahaan dalam                     mitigation measures is presented in the Corporate
Laporan Tahunan dan Laporan Keberlanjutan ini.                             Governance chapter of this Annual Report and
                                                                           Sustainability Report.


Kegiatan Membangun Budaya Keberlanjutan [POJK51-F.1]                       Building Sustainability Culture Activities [POJK51-F.1]
Untuk memastikan penerapan prinsip keberlanjutan                           To ensure the effective implementation of sustainability
berjalan secara efektif, Perseroan melaksanakan                            principles, the Company conducts socialization activities
sosialisasi serta program pengembangan kompetensi                          and competency development programs for all corporate
kepada seluruh organ perusahaan. Upaya tersebut                            organs. These efforts aim to strengthen understanding,
bertujuan untuk memperkuat pemahaman, membangun                            build internal commitment, and enhance employees’
komitmen internal, dan meningkatkan kemampuan                              capabilities in supporting sustainability practices across
karyawan dalam mendukung praktik keberlanjutan                             all operational lines. In addition, the Company actively
di seluruh lini operasional. Selain itu, Perseroan juga                    involves employees in various social initiatives that have
melibatkan karyawan secara aktif dalam berbagai                            been established as part of the Company’s contributions
kegiatan sosial yang telah ditetapkan sebagai bagian                       to the community.
dari kontribusi Perseroan kepada masyarakat.


Keberlanjutan Sosial                                                       Social Sustainability

Pengelolaan Sumber Daya Manusia (SDM)                                      Human Resources (HR) Management


Kesetaraan Kesempatan Bekerja                   [POJK51-.F18] [IDX-S.01]
                                                                           Equal Employment Opportunities                 [POJK51-.F18] [IDX-S.01]

[IDX-S.07] [IDX-S.08]                                                      [IDX-S.07] [IDX-S.08]


Perseroan berkomitmen memberikan kesempatan kerja                          The Company is committed to providing equal
yang setara bagi seluruh masyarakat yang memiliki                          employment opportunities for all individuals who possess
kompetensi sesuai kebutuhan perusahaan. Proses                             competencies aligned with the Company’s needs. The
rekrutmen dilaksanakan secara transparan, objektif,                        recruitment process is conducted in a transparent,
dan terbuka, tanpa membedakan latar belakang suku,                         objective, and open manner, without discrimination
agama, ras, gender, usia, maupun kelompok tertentu,                        based on ethnicity, religion, race, gender, age, or any
sehingga setiap pelamar memiliki peluang yang sama                         particular group, thereby ensuring that all applicants
untuk bergabung dan berkontribusi di Perseroan.                            have equal opportunities to join and contribute to the
                                                                           Company.




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Dalam mendukung prinsip kesetaraan gender                      In supporting the principles of gender equality and
dan penghormatan terhadap Hak Asasi Manusia                    respect for human rights (HR), the Company ensures that
(HAM), Perseroan memastikan bahwa seluruh                      all employees are provided with fair opportunities for
karyawan memperoleh kesempatan yang adil dalam                 career development, position appointments, and access
pengembangan karier, pengisian jabatan, serta                  to training and competency development programs.
akses terhadap pelatihan dan program peningkatan               All human resource–related decisions are based on
kompetensi. Setiap keputusan terkait sumber daya               qualifications, competencies, and performance, as a
manusia didasarkan pada kualifikasi, kompetensi, dan           manifestation of the Company’s commitment to fairness
kinerja, sebagai wujud penerapan prinsip keadilan dan          and equality in the workplace.
kesetaraan di lingkungan kerja.


Perseroan juga berupaya menciptakan lingkungan                 The Company also strives to create a safe, inclusive,
kerja yang aman, inklusif, dan bebas dari diskriminasi         and discrimination- and harassment-free working
maupun pelecehan, guna mendukung terciptanya                   environment to support equal employment opportunities
kesempatan bekerja yang setara bagi seluruh karyawan.          for all employees. These efforts are supported by the
Upaya tersebut didukung oleh penerapan mekanisme               implementation of a secure and reliable whistleblowing
pelaporan pelanggaran yang dapat diakses secara aman           mechanism, as well as the management of a balanced
dan tepercaya, serta pengelolaan komposisi karyawan            workforce composition based on gender, job level, and
yang berimbang berdasarkan gender, jenjang jabatan,            age group.
dan kelompok usia.


Komitmen tersebut dibuktikan melalui komposisi                 This commitment is reflected in the composition of
karyawan berdasarkan gender dan jabatan berdasarkan            employees by gender and job level based on age group,
usia, sebagai berikut.                                         as presented below.



                                                                   Pria                           Wanita
                                                                   Male                           Female
                     Level Jabatan
                                                                       Persentase                        Persentase
                     Position Level                     Jumlah                             Jumlah
                                                                        Karyawan                          Karyawan
                         2025                          Karyawan                           Karyawan
                                                                      Percentage of                     Percentage of
                                                       Number of                          Number of
                                                                       Employees                         Employees
                                                       Employees                          Employees
                                                                           (%)                               (%)

Executive Level                                            -                 -                -               -

Senior Level                                              2                 6%                1              17%

Mid Level                                                 3                 9%               2              33%

Entry Level                                               2                 6%               3              50%

Non Staff                                                 25               78%                -               -
Jumlah / Total                                            32              100%               6              100%




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             Company Summary                 Management Report                        Company Profile




Jumlah Karyawan Berdasarkan Level Jabatan yang                         Number of Employees by Job Level and Gender, by Age
Dimiliki oleh Pria dan Wanita berdasarkan Usia di                      Group, in 2025
Tahun 2025



                                                                Level Jabatan
                                                                Position Level                                            Jumlah
              Usia                                                                                                       Karyawan
                                   Entry-level           Mid-level           Senior-level          Executive-level
              Age                                                                                                        Number of
                                  Pria   Wanita     Pria      Wanita       Pria         Wanita     Pria     Wanita       Employees
                                  Male   Female     Male      Female       Male         Female     Male     Female

 18-24 tahun / year old            -         -       -           -            -              -       -         -              -

 25-34 tahun / year old            1        2        5           2            2              1       -         -             13

 35-44 tahun / year old            1         -       7           -            5              1       -         -             14

 45-54 tahun / year old            -         -       5           -            4              -       -         -              9

 >55 tahun / year old              -         -       -           -            2              -       -         -              2

 Jumlah / Total                    2        2       17           2           13             2        -         -             38



Kebijakan dan Jumlah Pelanggaran HAM [IDX-S.07]                        Human Rights Policy and Number of Human Rights
                                                                       Violations [IDX-S.07]
Hingga saat ini, Perseroan belum memiliki kebijakan                    To date, the Company has not yet established a specific
khusus yang secara formal mengatur penghormatan                        policy that formally regulates respect for human
terhadap HAM. Meskipun demikian, Perseroan                             rights. Nevertheless, the Company continues to make
tetap berupaya meminimalkan potensi terjadinya                         efforts to minimize the potential occurrence of human
pelanggaran HAM melalui penerapan ketentuan                            rights violations through compliance with applicable
peraturan perundang-undangan yang berlaku, kebijakan                   laws and regulations, relevant internal policies, and
internal yang relevan, serta praktik ketenagakerjaan                   labor practices that uphold the principles of fairness,
yang menjunjung prinsip keadilan, kesetaraan, dan                      equality, and non-discrimination in the workplace. The
non-diskriminasi di lingkungan kerja. Perseroan juga                   Company also provides a whistleblowing system that
menyediakan mekanisme pelaporan pelanggaran                            can be utilized by employees as a channel for reporting
(whistleblowing system) yang dapat dimanfaatkan                        suspected violations, including those related to human
oleh karyawan sebagai sarana pengaduan atas dugaan                     rights. In 2025, the Company did not receive any reports
pelanggaran, termasuk yang berkaitan dengan HAM.                       or complaints related to human rights violations.
Pada tahun 2025, Perseroan tidak menerima laporan
maupun pengaduan terkait pelanggaran HAM.


Tenaga Kerja Anak dan Tenaga Kerja Paksa [POJK51-F.18]                 Child Labor and Forced Labor
[IDX-S.10]                                                             [POJK51-F.18] [IDX-S.10]


Perseroan berkomitmen menciptakan lingkungan                           The Company is committed to creating a safe, ethical,
kerja yang aman, beretika, dan berkeadilan dengan                      and fair working environment by implementing a
menerapkan kebijakan batas usia kerja minimum 18                       minimum working age policy of 18 years in accordance
tahun sesuai dengan ketentuan peraturan perundang-                     with applicable laws and regulations, and by rejecting
undangan yang berlaku serta menolak segala bentuk                      all forms of forced labor. All employment relationships
kerja paksa. Seluruh hubungan kerja dijalankan secara                  are conducted on a voluntary basis while upholding the
sukarela dengan menjunjung pemenuhan hak-hak                           fulfillment of employees’ rights, including the right
karyawan, termasuk hak atas kompensasi yang layak,                     to fair compensation, a safe working environment,
lingkungan kerja yang aman, dan penghormatan                           and respect for the dignity and human rights of every
terhadap martabat serta hak asasi setiap individu.                     individual.




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                  Management Discussion and Analysis                           Corporate governance           Sustainability Report




Komposisi Karyawan                                                           Employee Composition
Perseroan senantiasa memperhatikan komposisi                                 The Company continuously monitors its workforce
karyawan dengan mempertimbangkan kebutuhan                                   composition by taking into account operational
operasional dan dinamika bisnis. Adapun komposisi                            requirements and business dynamics. The composition
karyawan Perseroan dalam 3 tahun terakhir diungkapkan                        of the Company’s employees over the past 3 years is
sebagai berikut.                                                             disclosed as follows.

Komposisi Karyawan Berdasarkan Status Kerja                                  Employee Composition Based on Work Status



                                               2025                   2024                     2023
             Uraian                                                                                            Description
                                        Jumlah                 Jumlah                  Jumlah
                                                        %                      %                       %
                                         Total                  Total                   Total

Karyawan Tetap                            7           17,42       7          53,85        6           60,00   Permanent Employee

Karyawan Kontrak                          31          81,58       4          30,77        4           40,00     Contract Employee

Jumlah                                   38           100,00     11          100,00       10         100,00                   Total



Komposisi Karyawan Berdasarkan Pendidikan                                    Employee Composition Based on Education



                                               2025                   2024                    2023
             Uraian                                                                                            Description
                                    Jumlah                     Jumlah                  Jumlah
                                                       %                      %                       %
                                     Total                      Total                   Total
 Pascasarjana                             -             -        -             -          -            -      Postgraduate Degrees
Sarjana                                  37           97,37      10          90,91        8          80,00          Undergraduate
Akademi                                   -             -        -             -          -            -                  Academy
SMA                                      1            2,63       1           9,09         2          20,00      Senior High School
Jumlah                                   38       100,00        11       100,00          10       100,00                      Total




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          Company Summary               Management Report                        Company Profile




Komposisi Karyawan Menurut Usia [IDX-S.02]                             Employee Composition Based on Age [IDX-S.02]



                                       2025                     2024                   2023
             Uraian                                                                                                           Description
                               Jumlah                  Jumlah                    Jumlah
                                               %                        %                           %
                                Total                   Total                     Total

21 - 30 tahun                     19          50,00        4           36,36       6             60,00                                21 - 30 years old

31 - 40 tahun                     11          28,94        6           54,54       4             40,00                               31 - 40 years old

41 – 50 tahun                     6           15,80        1           9,90        -                 -                               41 – 50 years old

> 50 tahun                        2           5,26         -             -         -                 -                                   > 50 years old

Jumlah                            38      100,00           11      100,00         10             100,00                                                 Total



Komposisi Karyawan Berdasarkan Jabatan                                 Employee Composition Based on Position



                                       2025                     2024                   2023
             Uraian                                                                                                           Description
                               Jumlah                  Jumlah                    Jumlah
                                               %                        %                           %
                                Total                   Total                     Total

Manajer                           3           7,89         3           27,27       2             16,67                                             Manager

Supervisor                        4           10,53        3           27,27       2             16,67                                         Supervisor

Staf                              6           15,79        5           45,46       6             50,00                                                   Staff

Non-Staff (Crew)                  25          65,79        -             -         6             50,00                               Non-Staff (Crew)

Jumlah                            38      100,00           11      100,00         12           100,00                                                   Total



Tingkat Perputaran Karyawan                                            Employee Turnover Rate
                                                                                       (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                 Uraian                       2025              2024             2023                                   Description

Jumlah Karyawan                                       38                11                 10                                           Total Employee

Karyawan yang Keluar                                   5                     2               3                                   Outgoing Employee

Karyawan yang Masuk                                    4                     3               5                                   Incoming Employee

Tingkat Perputaran Karyawan (%)                    20,41           19,05               27,27                     Employee Turnover Rate (%)




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                  Management Discussion and Analysis                Corporate governance               Sustainability Report




Tingkat Pergantian Karyawan [IDX-S.03]                            Employee Turnover Rate [IDX-S.03]


                                                                     Jumlah Karyawan 2025           Persentase Pegawai
                                Uraian
                                                                    Number of Employees 2025      Percentage of Employees

Jumlah Karyawan Resign/Pemutusan Hubungan Kerja
                                                                                5                         10,53%
Number of Employees Resigning/Terminating Employment
Jumlah Karyawan Baru/Pengganti
                                                                                4                         36,36%
Number of New/Replacement Employees



Jumlah Karyawan Sementara [IDX-S.04]                              Number of Temporary Employees [IDX-S.04]


                                                                     Jumlah Karyawan 2025           Persentase Pegawai
                                Uraian
                                                                    Number of Employees 2025      Percentage of Employees

Jumlah Karyawan perusahaan yang Dipegang oleh Kontraktor dan/
atau Konsultan / Number of Employees Held by Contractors and/                   -                             -
or Consultants



Kebijakan Remunerasi [POJK51-F.20]                                Remuneration Policy [POJK51-F.20]
Dalam mengelola SDM, Perseroan menerapkan                         In managing HR, the Company implements a fair and
kebijakan remunerasi karyawan yang adil dan                       competitive employee remuneration policy by referring
kompetitif dengan mengacu pada ketentuan peraturan                to applicable laws and regulations, including minimum
perundang-undangan yang berlaku, termasuk upah                    wage requirements, while also taking into account the
minimum, serta mempertimbangkan kondisi keuangan                  Company’s financial condition, industry practices, and
Perseroan, praktik industri, dan evaluasi kinerja.                performance evaluations. In addition, the Company
Selain itu, Perseroan menyediakan tunjangan dan                   provides benefits and supporting facilities to enhance
fasilitas pendukung guna meningkatkan kesejahteraan               employee welfare, encourage productivity and loyalty,
karyawan, mendorong produktivitas dan loyalitas, serta            and support the long-term sustainability of the
mendukung keberlanjutan usaha dalam jangka panjang.               Company’s business.



                                         Upah Karyawan Tetap     Upah Minimum Regional           Rasio Upah Karyawan
              Wilayah                         Terendah                   (UMR)               Tetap Terendah terhadap UMR
               Area                        Lowest Permanent      Regional Minimum Wage         Ratio of Lowest Permanent
                                          Employee Wage (Rp)             (UMR)                   Employee Wage to UMR

Jakarta                                          Rp8.500.000,-             Rp5.396.761,-                            157,51%



Pengembangan Kompetensi SDM [POJK51-F.22] [IDX-S.05]              HR Competency Development [POJK51-F.22] [IDX-S.05]
Sebagai bagian dari penguatan kualitas SDM, Perseroan             As part of efforts to strengthen the quality of human
menyelenggarakan program pengembangan kompetensi                  resources, the Company organizes employee competency
karyawan melalui pelatihan internal maupun kerja                  development programs through both internal training
sama dengan pihak eksternal. Pada tahun 2025 tidak                and collaborations with external parties. In 2025,
terdapat program pelatihan dan pengembangan yang                  there will be no training and development programs
dilaksanakan baik dari internal maupun pihak ekternal.            implemented either internally or externally.




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             Company Summary           Management Report             Company Profile




Lingkungan Bekerja yang Layak dan Aman [POJK51-F.21]       Proper and Safe Work Environment [POJK51-F.21] [IDX-S.11]
[IDX-S.11]


Perseroan berupaya memastikan terciptanya lingkungan       The Company strives to ensure the creation of a safe,
kerja yang aman, sehat, dan memenuhi standar               healthy, and compliant working environment to
kelayakan untuk mendukung kinerja serta produktivitas      support employee performance and productivity. This
karyawan. Komitmen tersebut diwujudkan melalui             commitment is realized through the implementation of
berbagai program dan kebijakan terkait Kesehatan dan       various occupational health and safety (OHS) programs
Keselamatan Kerja (K3), sebagai berikut.                   and policies, as outlined below.


Kesehatan Kerja                                            Occupational Health
1. Mengikutsertakan     karyawan   pada    program         1. Involve employees in health care programs organized
   pemeliharaan kesehatan yang diselenggarakan oleh           by the Health Insurance Administering Agency (BPJS)
   Badan Penyelenggara Jaminan Kesehatan (BPJS)               and Employment.
   dan Ketenagakerjaan.
2. Memberikan tunjangan kesehatan, seperti medical         2. Provide health benefits, such as medical check-ups,
   check-up, tunjangan pembelian lensa dan kaca mata,         allowances for purchasing lenses and glasses, as
   serta tunjangan klaim pengobatan sesuai kebijakan          well as allowances for medical claims according to
   terkait.                                                   relevant policies.
3. Menyediakan perlengkapan kesehatan di kapal dan         3. Providing medical equipment on ships and in office
   di gedung perkantoran, seperti kotak Pertolongan           buildings, such as first aid kits for accidents (P3K).
   Pertama Pada Kecelakaan (P3K).
4. Melaksanakan kegiatan Team Building dan Sports          4. Organizing Team Building activities and Internal
   Day/Turnamen Internal yang bertujuan untuk                 Sports Day/Tournaments aimed at fostering a positive
   membangun budaya kerja yang positif, meningkatkan          work culture, enhancing employee retention and
   retensi serta loyalitas karyawan, serta memberikan         loyalty, and providing opportunities for appreciation
   ruang untuk apresiasi dan motivasi di seluruh lini         and motivation across all departmental levels.
   departemen.


Keselamatan Kerja                                          Occupational Safety
1. Melakukan pengecekan dan pengawasan armada              1. Conducting regular fleet checking and monitoring.
   secara berkala.
2. Menyediakan sarana dan prasarana pelindung diri         2. Provide personal protection facilities and
   bagi karyawan, baik di darat ataupun di laut.              infrastructure for employee, both on land or at sea.
3. Melaksanakan pelatihan Kesehatan dan Keselamatan        3. Held regular occupational health and safety (OHS)
   Kerja (K3) secara berkala dan melakukan pembinaan          training and coaching, particularly to ship employees.
   terutama pada karyawan kapal.
4. Menyediakan dan menerapkan instalasi tanda              4. Provide and implement installation of safety signs
   keselamatan kapal, peralatan pencegahan terhadap           on ships, accident and fire prevention equipment,
   kecelakaan dan api, serta persiapan dan penanganan         and preparation and handling of emergencies.
   kondisi darurat.


Tingkat Kecelakaan Kerja [IDX-S.06]                        Work Accident Rate [IDX-S.06]
Selama tahun 2025, Perseroan tidak mencatat adanya         Throughout 2025, the Company recorded no
insiden kecelakaan kerja, baik pada kegiatan operasional   occupational accident incidents, either in onshore or
di darat maupun di laut, sebagaimana yang diungkapkan      offshore operations, as disclosed in the following table.
pada tabel berikut.




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                  Management Discussion and Analysis            Corporate governance                    Sustainability Report




                                                            Persentase Kecelakaan Serius yang Berakibat Cedera Serius dan Fatal
          Frekuensi Kecelakaan Kerja dari Jumlah Karyawan
                                                             dari Jumlah Karyawan / Percentage of Serious Accidents Resulting in
          Work Accident Frequency per Number of Employees
                                                                   Severe Injuries and Fatalities per Number of Employees (%)

                                Nihil
                                                                                            0%
                                 Nil



Sarana Pengaduan Ketenagakerjaan                             Employee Complaint Facility
Perseroan menyediakan mekanisme pengaduan                    The Company provides a labor grievance mechanism
ketenagakerjaan yang dapat disampaikan melalui               through which complaints may be submitted to the
Departemen Human Resources (HR) dan Legal.                   Human Resources (HR) and Legal Departments. All
Setiap pengaduan yang diterima ditangani sesuai              complaints received are handled professionally in
dengan prosedur yang berlaku secara profesional dan          accordance with applicable procedures and without
tanpa intervensi pihak mana pun. Selama 3 tahun              interference from any party. Over the past 3 years,
terakhir, Perseroan tidak menerima pengaduan terkait         the Company has not received any labor-related
ketenagakerjaan, yang mencerminkan pengelolaan               complaints, reflecting the effective management of
sumber daya manusia telah berjalan secara efektif.           human resources.


Komitmen terhadap Masyarakat                                 Commitment to the Community
Perseroan terus meningkatkan komitmennya terhadap            The Company continues to strengthen its commitment
masyarakat sebagai upaya mendukung kesejahteraan             to local communities as part of its efforts to support
masyarakat di sekitar wilayah operasional. Komitmen          the welfare of communities surrounding its operational
tersebut diwujudkan melalui pelaksanaan berbagai             areas. This commitment is realized through the
inisiatif sebagai berikut.                                   implementation of the following initiatives.


Dampak Operasi terhadap Masyarakat Sekitar [POJK51-F.23]     Impact of Operations on the Surrounding Community
                                                             [POJK51-F.23]


Perseroan memberikan dampak positif bagi masyarakat          The Company generates positive impacts for surrounding
sekitar melalui pelaksanaan program Pengembangan             communities through the implementation of Community
dan Pemberdayaan Masyarakat (PPM), yang mencakup             Development and Empowerment Programs (PPM), which
dukungan terhadap kegiatan sosial, fasilitas kesehatan,      include support for social activities, healthcare facilities,
serta inisiatif pemberdayaan komunitas. Dalam                and community empowerment initiatives. In conducting
menjalankan kegiatan operasionalnya, Perseroan juga          its operational activities, the Company also upholds the
menjunjung prinsip Free, Prior, and Informed Consent         principle of Free, Prior, and Informed Consent (FPIC)
(FPIC) bagi masyarakat adat yang terdampak, serta            for affected indigenous communities and provides
menyediakan mekanisme pengaduan yang transparan              transparent and accountable grievance mechanisms as
dan akuntabel sebagai sarana komunikasi dengan               a means of communication with the community.
masyarakat.


Di sisi lain, Perseroan menyadari adanya potensi             On the other hand, the Company acknowledges the
dampak negatif dari kegiatan operasional, termasuk           potential negative impacts arising from its operational
risiko ketidakpatuhan terhadap peraturan, gangguan           activities, including risks of non-compliance with
operasional yang dapat berdampak pada kondisi                regulations, operational disruptions that may affect
sosial dan ekonomi masyarakat sekitar, serta risiko          the social and economic conditions of surrounding
lingkungan seperti pencemaran dan degradasi                  communities, as well as environmental risks such as
ekosistem. Untuk mengelola potensi dampak tersebut,          pollution and ecosystem degradation. To manage
Perseroan menerapkan langkah-langkah pengelolaan             these potential impacts, the Company implements
dan pemantauan lingkungan, serta mendorong                   environmental management and monitoring measures
keterlibatan masyarakat melalui kegiatan edukasi dan         and encourages community involvement through
upaya pelestarian lingkungan guna meminimalkan               educational activities and environmental conservation
dampak dan menjaga keberlanjutan hubungan dengan             efforts, in order to minimize adverse impacts and
masyarakat sekitar.                                          maintain sustainable relationships with surrounding
                                                             communities.




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          Company Summary            Management Report                Company Profile




Penggunaan Tenaga Kerja Lokal                              Use of Local Workforce
Perseroan terus berupaya mendukung peningkatan             The Company continues to support the improvement of
perekonomian masyarakat di sekitar wilayah operasional     the local economy in areas surrounding its operational
melalui penyediaan kesempatan kerja bagi tenaga kerja      sites by providing employment opportunities for
lokal. Pada tahun 2025, seluruh karyawan Perseroan, baik   local labor. In 2025, all of the Company’s employees,
karyawan perkantoran maupun awak kapal, berasal dari       including office-based employees and vessel crews, were
masyarakat lokal. Komitmen ini mencerminkan peran          recruited from local communities. This commitment
Perseroan dalam mendorong kesejahteraan komunitas          reflects the Company’s role in promoting the welfare of
setempat serta berkontribusi pada pengurangan tingkat      local communities and contributing to the reduction of
pengangguran.                                              unemployment levels.


Pelaksanaan  Pengembangan   dan                            Community    Development    and
Pemberdayaan   Masyarakat (PPM)                            Empowerment (CDE) Implementation
[POJK51-F.25] [IDX-S.12]                                   [POJK51-F.25] [IDX-S.12]

Selama 3 tahun terakhir, Perseroan telah melaksanakan      Over the past 3 years, the Company has consistently
berbagai program Pengembangan dan Pemberdayaan             implemented various Community Development and
Masyarakat (PPM) secara berkelanjutan. Program-            Empowerment Programs (PPM). These programs are
program tersebut dirancang untuk mendukung                 designed to support social needs and enhance the
kebutuhan sosial serta meningkatkan kapasitas              capacity of communities surrounding the Company’s
masyarakat di sekitar wilayah operasional Perseroan.       operational areas. Details of the implementation of the
Adapun uraian pelaksanaan program PPM pada periode         PPM programs during the period are disclosed as follows.
tersebut diungkapkan sebagai berikut.


              •   Perseroan telah melakukan Corporate Social •       The Company has carried out Corporate Social
   2025           Responsibility (CSR) pada Pondok Yatim dan         Responsibility (CSR) at the Pondok Yatim and
                  Dhu’afa Yayasan Amal Soleh Sejahtera.              Dhu’afa Yayasan Amal Soleh Sejahtera.




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                  Management Discussion and Analysis             Corporate governance                Sustainability Report




              •    Perseroan telah melakukan Corporate Social •           The Company has carried out Corporate Social
                   Responsibility (CSR) pada Pondok Yatim dan             Responsibility (CSR) at the Pondok Yatim and
   2024            Dhu’afa Yayasan Amal Soleh Sejahtera.                  Dhu’afa Yayasan Amal Soleh Sejahtera.
              •    Perseroan melakukan CSR kepada Masjid Jami’ Al- •      The Company has carried out CSR to the Jami’ Al-
                   Maidah.                                                Maidah Mosque.



              •    Perseroan melakukan CSR kepada Pondok Yatim •          The Company conduct CSR to Orphanage and
                   dan Dhu’afa Yayasan Amal Sholeh Sejahtera.             Dhu’afa Foundation Amal Sholeh Sejahtera.
   2023
              •    Perseroan melakukan CSR kepada Masjid Jami’ Al- •      The Company conduct CSR to Masjid Jami’ Al-
                   Maidah.                                                Maidah.




Sarana Pengaduan Masyarakat [POJK51-F.24]                      Community Complaints Channel [POJK51-F.24]
Perseroan menerapkan mekanisme komunikasi yang                 The Company implements a transparent communication
transparan untuk menampung masukan maupun                      mechanism to accommodate feedback and objections
keberatan dari masyarakat terkait pelaksanaan program          from the community related to the implementation of
Pengembangan dan Pemberdayaan Masyarakat (PPM).                Community Development and Empowerment Programs
Saluran pengaduan disediakan melalui Sekretaris                (PPM). Grievance channels are provided through the
Perusahaan serta melalui alamat email dan kontak               Corporate Secretary, as well as via the official email
resmi yang tercantum pada situs web Perseroan. Setiap          address and contact details listed on the Company’s
laporan yang diterima ditangani secara bertanggung             website. Each report received is handled responsibly and
jawab dan profesional guna memastikan penyelesaian             professionally to ensure appropriate resolution. Over
yang tepat. Selama 3 tahun terakhir, Perseroan                 the past 3 years, the Company has not received any
tidak menerima pengaduan dari masyarakat terkait               community complaints related to the implementation
pelaksanaan program PPM.                                       of the PPM programs.


Menjaga Hubungan Baik dengan Pelanggan                         Maintain Good Relationship with Customers
Dalam rangka memperkuat hubungan dengan pelanggan              In order to strengthen relationships with customers and
serta menjaga kepercayaan dan kepuasan, Perseroan              maintain trust and satisfaction, the Company continues
terus mengimplementasikan berbagai program dan                 to implement various programs and strategic measures.
langkah strategis. Inisiatif-inisiatif tersebut dilaksanakan   These initiatives are carried out on an ongoing basis and
secara berkelanjutan dan dirangkum sebagai berikut.            are summarized as follows.


Komitmen LJK, Emiten, atau Perusahaan Publik untuk             Commitment of Financial Services Institutions, Issuers,
Memberikan Layanan atas Produk dan/atau Jasa yang              or Public Companies to Provide Equal Service for Products
Setara kepada Pelanggan [POJK51-F.17]                          and/or Services to Customers [POJK51-F.17]
Dalam memberikan layanan, Perseroan menjamin                   In delivering its services, the Company ensures equal
perlakuan yang setara dan konsisten kepada seluruh             and consistent treatment for all customers without
pelanggan tanpa pembedaan dalam bentuk apa                     discrimination of any kind. This commitment serves as
pun. Komitmen tersebut menjadi landasan dalam                  the foundation for building long-term relationships,
membangun hubungan jangka panjang, meningkatkan                enhancing trust, and delivering an optimal service
kepercayaan, serta memberikan pengalaman layanan               experience.
yang optimal.




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            Company Summary            Management Report                   Company Profile




Informasi Produk dan Layanan                               Product and Service Information
Perseroan memanfaatkan situs web resmi sebagai             The Company utilizes its official website as the primary
sarana utama dalam penyampaian informasi mengenai          platform for disseminating information regarding its
produk dan layanan. Platform digital tersebut dikelola     products and services. This digital platform is managed
dan diperbarui secara berkala guna memastikan seluruh      and updated on a regular basis to ensure that all
pelanggan dan pemangku kepentingan memperoleh              customers and stakeholders have access to complete,
akses informasi yang lengkap, akurat, dan mudah            accurate, and easily accessible information.
diakses.


Menjaga Keamanan Data dan Informasi Pelanggan              Maintain Safety of Customer Data and Information
Sebagai bagian dari upaya menjaga kepercayaan              As part of its efforts to maintain customer trust, the
pelanggan, Perseroan menerapkan prinsip perlindungan       Company consistently applies customer data protection
data pelanggan secara konsisten dalam seluruh aktivitas    principles across all operational activities. All customer
operasional. Seluruh data dan informasi pelanggan yang     data and information received by the Company are
diterima oleh Perseroan digunakan secara terbatas          used on a limited basis for relevant purposes, including
untuk keperluan yang relevan, antara lain verifikasi       transaction verification, the provision of product and
transaksi, penyampaian informasi produk dan layanan,       service information, and communications related to the
serta komunikasi yang berkaitan dengan kegiatan usaha      Company’s business activities. The Company ensures
Perseroan. Perseroan memastikan kerahasiaan dan            that the confidentiality and security of customer data are
keamanan data pelanggan terjaga dengan baik serta          properly safeguarded and does not disclose or transfer
tidak mengungkapkan atau mengalihkan data tersebut         such data to any third parties without valid consent, in
kepada pihak lain tanpa persetujuan yang sah, sesuai       accordance with applicable laws and regulations.
dengan ketentuan peraturan perundang-undangan yang
berlaku.


Inovasi dan Pengembangan Produk dan/atau Jasa              Innovation and Product and/or Service Development
[POJK51-F.26]                                              [POJK51-F.26]


Dalam rangka menjaga daya saing dan menyesuaikan           In order to maintain competitiveness and adapt to industry
diri dengan perkembangan industri, Perseroan secara        developments, the Company continuously enhances the
berkelanjutan melakukan peningkatan kualitas produk        quality of its products and services. Throughout 2025,
dan layanan. Sepanjang tahun 2025, Perseroan berfokus      the Company focused on strengthening the quality of
pada penguatan kualitas pelayanan kepada pelanggan         customer service by improving communication systems
melalui peningkatan sistem komunikasi dan koordinasi       and operational coordination across its fleet, thereby
operasional di armada, sehingga pertukaran informasi       enabling more effective and accurate information
dapat berlangsung secara lebih efektif dan akurat.         exchange. In addition, the Company routinely updated
Selain itu, Perseroan secara rutin melakukan pembaruan     its corporate and maritime certifications and licenses
sertifikasi dan perizinan perusahaan maupun perkapalan     to ensure compliance with applicable regulations, as
guna memastikan kepatuhan terhadap ketentuan yang          well as to maintain fleet performance and readiness in
berlaku, serta menjaga kinerja dan kesiapan armada         supporting contract acquisition and business continuity.
dalam mendukung perolehan kontrak dan keberlanjutan
kegiatan usaha.




182             PT CAKRA BUANA RESOURCES ENERGI Tbk                                     Laporan Tahunan dan Keberlanjutan 2025
Page 185
                  Analisa dan Pembahasan Manajemen          Tata Kelola Perusahaan            Laporan Keberlanjutan
                  Management Discussion and Analysis        Corporate governance              Sustainability Report




Sistem Manajemen Mutu Kapal                               Ship Quality Management System
Perseroan secara konsisten menerapkan manajemen           The Company consistently implements fleet quality
mutu armada dengan memastikan seluruh kapal               management by ensuring that all vessels under its
yang dioperasikan memenuhi standar klasifikasi            operation comply with the classification standards
yang ditetapkan oleh Biro Klasifikasi Indonesia (BKI).    established by the Indonesian Classification Bureau
Penerapan standar tersebut mencakup pelaksanaan           (BKI). The application of these standards includes the
inspeksi rutin, program perawatan terjadwal, serta        conduct of regular inspections, scheduled maintenance
kegiatan docking sesuai agenda untuk menjaga              programs, and docking activities in accordance with
keamanan, keandalan, dan kesiapan operasional             established schedules to maintain the safety, reliability,
armada. Selain itu, Perseroan secara berkala melakukan    and operational readiness of the fleet. In addition, the
pembaruan sertifikasi dan menyesuaikan penerapan          Company periodically renews certifications and aligns
standar teknis sesuai ketentuan terbaru BKI guna          the application of technical standards with the latest
memastikan setiap unit armada tetap memenuhi              BKI requirements to ensure that each vessel continues
persyaratan keselamatan dan kualitas yang berlaku.        to meet applicable safety and quality standards.


Keamanan dan Keselamatan Pelanggan                        Customer Security and Safety
Perseroan memastikan keamanan dan keselamatan             The Company ensures the safety and security of all
seluruh pelanggan, baik selama berada di atas kapal       customers, both while on board vessels and within
maupun di area perkantoran, melalui penerapan             office premises, through the consistent implementation
berbagai langkah dan program keselamatan yang             of various safety measures and programs, as outlined
dijalankan secara konsisten, sebagaimana diuraikan        below.
berikut.


1. Menyediakan fasilitas kebersihan di kapal ataupun di   1. Provide cleaning facilities on ships or in office
   gedung perkantoran, seperti masker, hand sanitizer,       buildings, such as masks, hand sanitizers, and others.
   dan lainnya.
2. Menyediakan perlengkapan keselamatan di kapal          2. Provide safety equipment on the ship such as life
   seperti pelampung dan P3K.                                jackets and first aid kit.
3. Menyediakan alat komunikasi dan GPS di masing-         3. Providing communication tools and GPS on each
   masing kapal untuk mempermudah posisi kapal.              ship to facilitate ship positioning.
4. Memeriksa kondisi gedung dan setiap ruang di area      4. Check the condition of the building and each room in
   perkantoran secara berkala.                               the office area periodically.
5. Merawat dan melakukan peremajaan kapal secara          5. Maintain and rejuvenate the ship periodically.
   berkala.


Evaluasi Produk dan Layanan [POJK51-F.27]                 Evaluation of Products and Services [POJK51-F.27]
Dalam rangka menjaga kualitas layanan dan keandalan       In order to maintain service quality and operational
operasional, Perseroan melakukan peninjauan mutu          reliability, the Company conducts periodic reviews of
produk dan layanan secara berkala untuk memastikan        product and service quality to ensure that operational
kegiatan operasional berjalan sesuai dengan standar dan   activities are carried out in accordance with applicable
ketentuan yang berlaku. Komitmen tersebut tercermin       standards and regulations. This commitment is reflected
dari pemenuhan berbagai sertifikasi kepatuhan dari        in the fulfillment of various compliance certifications
otoritas terkait, yang diperoleh melalui evaluasi rutin   from relevant authorities, obtained through regular
terhadap armada guna memastikan kesiapan kapal            evaluations of the fleet to ensure vessel readiness
dalam mendukung penyediaan layanan transportasi           in supporting the provision of safe and reliable
yang aman dan andal.                                      transportation services.




Annual and Sustainability Report 2025                          PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                              183
Page 186
        Ikhtisar Perseroan             Laporan Manajemen              Profil Perusahaan
        Company Summary                Management Report              Company Profile




Dampak Produk/Jasa [POJK51-F.28]                             Impact of Products/Services [POJK51-F.28]
Produk dan layanan Perseroan di bidang transportasi          The Company’s products and services in the areas
perairan dan pengangkutan komoditas memberikan               of water transportation and commodity hauling
dampak bagi lingkungan dan masyarakat sekitar. Dari          generate impacts on the environment and surrounding
sisi positif, kegiatan operasional Perseroan berkontribusi   communities. On the positive side, the Company’s
terhadap kelancaran rantai distribusi, mendukung             operational activities contribute to the smooth
aktivitas industri terkait, serta mendorong pertumbuhan      functioning of distribution chains, support related
ekonomi di wilayah operasional. Di sisi lain, Perseroan      industrial activities, and encourage economic growth
menyadari adanya potensi dampak lingkungan                   in operational areas. On the other hand, the Company
yang timbul dari kegiatan usaha, antara lain emisi           recognizes the potential environmental impacts arising
operasional kapal, penggunaan bahan bakar, serta risiko      from its business activities, including vessel operational
pencemaran perairan. Oleh karena itu, Perseroan secara       emissions, fuel consumption, and the risk of water
konsisten menerapkan langkah-langkah pengelolaan             pollution. Accordingly, the Company consistently
dan pemantauan lingkungan serta memastikan seluruh           implements environmental management and monitoring
aktivitas operasional dilaksanakan sesuai dengan             measures and ensures that all operational activities are
ketentuan dan standar yang ditetapkan oleh regulator.        conducted in compliance with applicable regulations
                                                             and standards set by the relevant authorities.


Jumlah Produk yang Ditarik Kembali [POJK51-F.29]             Number of Recalled Products [POJK51-F.29]
Sepanjang tahun pelaporan, Perseroan tidak melakukan         Throughout the reporting year, the Company did not
penarikan kembali produk atau layanan karena seluruh         conduct any product or service recalls, as all products
produk dan layanan telah memenuhi standar mutu,              and services complied with applicable quality, safety,
keselamatan, dan ketentuan yang berlaku. Perseroan           and regulatory standards. The Company consistently
secara konsisten melakukan pengawasan kualitas               monitors service quality and prepares business
layanan serta menyiapkan langkah pengembangan                development initiatives through the expansion of
usaha melalui perluasan jaringan bisnis, penjajakan klien    its business network, exploration of new clients, and
baru, dan optimalisasi peluang usaha guna mendukung          optimization of business opportunities to support
keberlanjutan dan peningkatan kinerja pada periode           sustainability and performance improvement in future
mendatang.                                                   periods.


Survei Kepuasan Pelanggan [POJK51-F.30]                      Customer Satisfaction Survey [POJK51-F.30]
Hingga akhir Desember 2025, Perseroan belum                  As of the end of December 2025, the Company had not
melaksanakan survei kepuasan pelanggan secara formal.        yet conducted a formal customer satisfaction survey.
Meskipun demikian, Perseroan tetap menyediakan               Nevertheless, the Company continues to provide
sarana bagi pelanggan untuk menyampaikan masukan,            channels for customers to submit feedback, suggestions,
saran, maupun keluhan sebagai bagian dari upaya              and complaints as part of its ongoing efforts to improve
berkelanjutan dalam meningkatkan kualitas layanan.           service quality.


Sarana Pengaduan Pelanggan                                   Customer Complaint Channel
Perseroan menyediakan kanal pengaduan pelanggan              The Company provides customer grievance channels
yang dapat disampaikan melalui Sekretaris Perusahaan         through the Corporate Secretary as well as through the
maupun melalui kontak resmi yang tercantum pada              official contact details listed on the Company’s website.
situs web Perseroan. Setiap pengaduan yang diterima          All complaints received are handled professionally and
ditangani secara profesional dan ditindaklanjuti sesuai      followed up in accordance with applicable provisions.
dengan ketentuan yang berlaku. Selama 3 tahun                Over the past 3 years, the Company has not received any
terakhir, Perseroan tidak menerima keluhan maupun            customer complaints or grievances.
pengaduan dari pelanggan.




184        PT CAKRA BUANA RESOURCES ENERGI Tbk                                     Laporan Tahunan dan Keberlanjutan 2025
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                    Analisa dan Pembahasan Manajemen                          Tata Kelola Perusahaan                    Laporan Keberlanjutan
                    Management Discussion and Analysis                        Corporate governance                      Sustainability Report




Hubungan dengan Mitra Usaha                                                Relationships with Business Partners
Dalam mendukung kelancaran kegiatan operasional,                           In supporting the smooth execution of its operational
Perseroan menjalin hubungan kerja sama dengan                              activities, the Company establishes cooperative
berbagai mitra usaha, pemasok, atau vendor lokal                           relationships with various business partners, suppliers,
maupun nasional, dengan menjunjung prinsip                                 and vendors at both local and national levels,
keterbukaan, kesetaraan, dan tanggung jawab bersama                        upholding the principles of transparency, equality,
sebagai dasar kemitraan yang berkelanjutan. Untuk                          and shared responsibility as the foundation for
menjaga kualitas hubungan tersebut, Perseroan                              sustainable partnerships. To maintain the quality of
menyediakan mekanisme pengaduan yang dapat diakses                         these relationships, the Company provides a grievance
oleh seluruh mitra usaha melalui Sekretaris Perusahaan                     mechanism that is accessible to all business partners
maupun kontak resmi yang tercantum pada situs web                          through the Corporate Secretary as well as through the
Perseroan. Setiap laporan ditangani secara objektif                        official contact details listed on the Company’s website.
dan profesional sesuai prosedur yang berlaku. Selama                       All reports are handled objectively and professionally
3 tahun terakhir, Perseroan tidak menerima keluhan                         in accordance with applicable procedures. Over the
dari mitra usaha, pemasok, maupun vendor, yang                             past three years, the Company has not received any
mencerminkan tingkat kepercayaan dan kepuasan yang                         complaints from business partners, suppliers, or vendors,
baik terhadap praktik bisnis Perseroan.                                    reflecting a high level of trust and satisfaction with the
                                                                           Company’s business practices.


Berikut informasi terkait jumlah mitra usaha dan nilai                     The following information presents the number of
kontrak Perseroan dalam 3 tahun terakhir.                                  business partners and the value of the Company’s
                                                                           contracts over the past 3 years.


                                            2025                                     2024                                     2023

       Uraian              Jumlah Mitra         Nilai Kontrak       Jumlah Mitra         Nilai Kontrak       Jumlah Mitra         Nilai Kontrak
      Description              Usaha           (Dalam Rupiah)           Usaha           (Dalam Rupiah)           Usaha           (Dalam Rupiah)
                           Total Business       Contract Value      Total Business       Contract Value      Total Business       Contract Value
                              Partner            (in Rupiah)           Partner            (in Rupiah)           Partner            (in Rupiah)

Pemasok Lokal
                                77                 22.345.434.577        12                  8.026.449.025         4                  2.809.950.444
Local Supplier

Pemasok Nasional
                                87                 31.776.985.297        87                 30.609.546.795        44                 25.746.550.339
National Supplier

Jumlah
                                164            54.122.419.874            99             38.635.995.820            48             22.936.599.895
Total




Keberlanjutan Lingkungan                                                   Environmental Sustainability
Sebagai upaya meminimalkan potensi pencemaran                              As part of its efforts to minimize potential environmental
lingkungan yang timbul dari aktivitas operasional,                         pollution arising from operational activities, the
Perseroan menerapkan berbagai inisiatif pengelolaan                        Company         implements       various     environmental
lingkungan dan keberlanjutan, sebagaimana diuraikan                        management and sustainability initiatives, as outlined
berikut ini.                                                               below.




Annual and Sustainability Report 2025                                            PT CAKRA BUANA RESOURCES ENERGI Tbk
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          Ikhtisar Perseroan                 Laporan Manajemen                Profil Perusahaan
          Company Summary                    Management Report                Company Profile




Penggunaan Material Ramah Lingkungan dalam                         Use of Environmentally Friendly Materials in Office
Kegiatan Operasional di Kantor dan Kapal [POJK51-F.5]              and Vessel Operations [POJK51-F.5]
Pemanfaatan material ramah lingkungan merupakan                    The utilization of environmentally friendly materials
salah satu strategi Perseroan dalam memperkuat                     represents one of the Company’s strategies to
praktik keberlanjutan dan meminimalkan dampak                      strengthen sustainability practices and minimize the
lingkungan dari aktivitas operasional. Sejalan dengan              environmental impact of its operational activities. In
komitmen tersebut, sepanjang tahun pelaporan                       line with this commitment, throughout the reporting
Perseroan telah menerapkan berbagai inisiatif, antara              year the Company implemented various initiatives,
lain mengurangi penggunaan plastik sekali pakai                    including reducing the use of single-use plastics
melalui penyediaan dispenser dan gelas bagi karyawan               through the provision of water dispensers and reusable
serta imbauan penggunaan botol minum dan bekal                     cups for employees, encouraging the use of personal
makan sendiri, memaksimalkan pemanfaatan dokumen                   water bottles and meal containers, maximizing the use
elektronik untuk mengurangi penggunaan kertas,                     of electronic documents to reduce paper consumption,
serta menggunakan perangkat elektronik yang lebih                  and utilizing more environmentally friendly electronic
ramah lingkungan seperti kulkas, AC, dan peralatan                 equipment such as refrigerators, air conditioners, and
administrasi lainnya.                                              other administrative devices.


Selain itu, Perseroan mengoperasikan armada secara                 In addition, the Company operates its fleet responsibly
bertanggung jawab dengan menerapkan standar kapal                  by applying more environmentally friendly vessel
yang lebih ramah lingkungan. Upaya ini dilakukan                   standards. These efforts are carried out through the
melalui penggunaan teknologi mesin yang efisien,                   use of efficient engine technologies, the utilization
pemanfaatan bahan bakar yang lebih ekonomis dan                    of more economical and lower-emission fuels, and
beremisi lebih rendah, serta pelaksanaan berbagai                  the implementation of various supporting initiatives,
inisiatif pendukung, antara lain penggunaan lampu                  including the use of LED lighting, the application of TBT-
LED, penerapan cat TBT-free anti-fouling system saat               free anti-fouling paint systems during vessel docking,
docking kapal, pengurangan penggunaan plastik dan                  the reduction of plastic and cooking oil usage, and the
minyak goreng, serta pelaksanaan perawatan dan                     routine maintenance and inspection of vessel facilities
pengecekan sarana dan prasarana kapal secara rutin                 and infrastructure to support reliable and sustainable
guna mendukung kinerja operasional yang andal dan                  operational performance.
berkelanjutan.


Penggunaan Energi [POJK51-F.6] [IDX-E.03]                          Energy Usage [POJK51-F.6] [IDX-E.03]
Perseroan memenuhi kebutuhan energi operasional                    The Company meets its operational energy requirements
melalui pasokan listrik dari PT Perusahaan Listrik                 through electricity supplied by PT Perusahaan Listrik
Negara untuk kegiatan perkantoran dan penggunaan                   Negara for office activities and the use of fuel obtained
Bahan Bakar Minyak (BBM) yang diperoleh dari stasiun               from the nearest fuel stations to support the operation
pengisian terdekat untuk mendukung operasional                     of vessels, company vehicles, and generators. Details
kapal, kendaraan dinas, serta genset. Rincian estimasi             of the Company's estimated electricity and fuel
konsumsi listrik dan BBM Perseroan dalam 3 tahun                   consumption in the last 3 years are disclosed in the
terakhir diungkapkan pada tabel berikut.                           following table.


                                                                                    (dalam Rupiah, kecuali dinyatakan lain / in Rupiah, unless stated otherwise)


                                        Satuan
              Uraian                                     2025        2024             2023                               Description
                                         Unit

Listrik                                     kWh           30.355        34.639            34.706                                              Electricity

BBM                                         Liter        910.000      990.000          661.000                                                         Fuel




186          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                  Laporan Tahunan dan Keberlanjutan 2025
Page 189
                  Analisa dan Pembahasan Manajemen          Tata Kelola Perusahaan                   Laporan Keberlanjutan
                  Management Discussion and Analysis        Corporate governance                     Sustainability Report




Upaya dan Pencapaian Efisiensi Energi dan Penggunaan     Efforts and Achievements of Energy Efficiency and
Energi Terbarukan [POJK51-F.7] [IDX-E.01] [IDX-E.07]     Use of Renewable Energy [POJK51-F.7] [IDX-E.01] [IDX-E.07]
Dalam upaya meningkatkan efisiensi energi, Perseroan     In an effort to improve energy efficiency, the Company
telah menerapkan berbagai inisiatif yang mencakup        has implemented various initiatives, including the
pengelolaan     penggunaan    perangkat    elektronik    prudent management of electronic device usage
secara bijak dengan mematikan peralatan saat tidak       by turning off equipment when not in use, the
digunakan, penetapan jadwal operasional gedung           establishment of office building operating schedules,
perkantoran, penggunaan perangkat elektronik yang        the use of environmentally friendly and energy-efficient
ramah lingkungan dan hemat energi, serta optimalisasi    electronic equipment, and the optimization of vessel
manajemen operasional kapal melalui pengaturan           operational management through effective scheduling
jadwal penggunaan yang efektif guna menekan              to reduce energy consumption. During the 2025 period,
konsumsi energi. Pada periode 2025, Perseroan belum      the Company had not yet implemented the use of
menerapkan penggunaan energi terbarukan, namun           renewable energy; however, the Company will consider
Perseroan akan mempertimbangkan penerapannya di          its adoption in the future as part of its efforts to enhance
masa mendatang sebagai bagian dari upaya peningkatan     sustainability practices.
praktik keberlanjutan.


Upaya Pengendalian Emisi dan Jumlah Emisi yang           Emission Control Efforts and Emissions Generated
Dihasilkan [POJK51-F.11, F.12] [IDX-E.01] [IDX-E.07]     [POJK51-F.11, F.12] [IDX-E.01] [IDX-E.07]


Kegiatan operasional Perseroan menghasilkan emisi baik   The Company’s operational activities generate both
secara langsung maupun tidak langsung yang berasal       direct and indirect emissions arising from shipping
dari aktivitas perkapalan, penggunaan kendaraan          activities, the use of operational vehicles, the utilization
operasional, pemanfaatan peralatan elektronik, serta     of electronic equipment, and other operational
proses operasional lainnya. Menyadari potensi dampak     processes. Acknowledging the potential impacts of
tersebut, Perseroan berkomitmen untuk menekan            these activities, the Company is committed to reducing
jejak emisi melalui penerapan berbagai langkah           its emissions footprint through the implementation
pengendalian, antara lain pelaksanaan uji emisi kapal    of various control measures, including the periodic
dan kendaraan operasional secara berkala, peremajaan     emissions testing of vessels and operational vehicles,
armada dan kendaraan, penggunaan bahan bakar yang        fleet and vehicle rejuvenation, the use of more
lebih ramah lingkungan, serta penyediaan ruang terbuka   environmentally friendly fuels, and the provision of
hijau di lingkungan perkantoran. Perseroan juga telah    green open spaces within office environments. The
melakukan perhitungan emisi, dengan hasil sebagai        Company has also conducted emissions calculations,
berikut.                                                 with the results presented as follows.




Annual and Sustainability Report 2025                            PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 190
         Ikhtisar Perseroan             Laporan Manajemen               Profil Perusahaan
         Company Summary                Management Report               Company Profile




                      Sumber Emisi                      Satuan
                                                                       2025                 2024*              2023*
                     Emission Sources                    Unit

Emisi Gas Rumah Kaca Cakupan 1
Scope 1 Greenhouse Gas Emissions

Emisi Langsung dari Pembakaran Bergerak
                                                       TonCO2e            2.106,53            2.106,53            1.530,21
Direct Emissions from Mobile Combustion

Jumlah Emisi Cakupan 1
                                                       TonCO2e           2.106,53             2.291,84           1.530,21
Total Covered Emissions 1

Emisi Gas Rumah Kaca Cakupan 2 Tidak Langsung
Indirect Scope 2 Greenhouse Gas Emissions

Emisi Tidak Langsung dari Konsumsi Listrik yang Dibeli
dari PLN / Indirect Emissions from Consuming Electricity TonCO2e              28,53                 32,56              32,62
Purchased from PLN

Jumlah Emisi Cakupan 2
                                                       TonCO2e                28,53                 32,56           32,62
Total Emissions Coverage 2

Jumlah Emisi Cakupan 1 dan 2
                                                       TonCO2e           2.135,07             2.324,40           1.562,83
Total Scope 1 and 2 Emissions

Intensitas Emisi [IDX-E.02]
                                                       TonCO2e     0,00000003870      0,00000003739         0,00000003658
Emission Intensity [IDX-E.02]

Efisiensi Emisi
                                                       TonCO2e (0,00000000132) (0,00000000081)                             -
Emission Efficiency



Komitmen Perusahaan untuk Mencapai Target Net                  Company's Commitment to Achieving Net Zero
Zero Emission [IDX-E.06]                                       Emission Target [IDX-E.06]
Perseroan    menyadari    pentingnya    pengendalian           The Company recognizes the importance of emissions
emisi sebagai bagian dari tanggung jawab terhadap              control as part of its responsibility toward environmental
lingkungan dan keberlanjutan usaha. Hingga tahun               protection and business sustainability. Up to 2025,
2025, Perseroan memfokuskan upaya pengurangan                  the Company has focused its emissions reduction
emisi melalui peningkatan efisiensi operasional,               efforts on improving operational efficiency, managing
pengelolaan konsumsi energi secara lebih terukur,              energy consumption in a more measurable manner,
serta penerapan praktik operasional yang lebih ramah           and implementing more environmentally friendly
lingkungan, termasuk penggunaan perangkat elektronik           operational practices, including the use of energy-
hemat energi dan pemantauan emisi secara berkala.              efficient electronic equipment and periodic emissions
                                                               monitoring.


Meskipun Perseroan belum menetapkan target net                 Although the Company has not yet established
zero emission secara kuantitatif maupun mengadopsi             quantitative net zero emission targets nor adopted
energi terbarukan pada periode pelaporan, Perseroan            renewable energy sources during the reporting period,
berkomitmen untuk secara bertahap mengevaluasi                 the Company remains committed to gradually evaluating
peluang dan kesiapan menuju penurunan emisi jangka             opportunities and readiness for long-term emissions
panjang. Ke depan, Perseroan akan mempertimbangkan             reduction. Going forward, the Company will consider the
penyusunan peta jalan (roadmap) pengelolaan emisi dan          development of an emissions management roadmap
penerapan inisiatif yang sejalan dengan perkembangan           and the implementation of initiatives aligned with
regulasi serta pedoman keberlanjutan yang ditetapkan           regulatory developments and sustainability guidelines
oleh pemerintah.                                               issued by the government.




188          PT CAKRA BUANA RESOURCES ENERGI Tbk                                      Laporan Tahunan dan Keberlanjutan 2025
Page 191
                  Analisa dan Pembahasan Manajemen           Tata Kelola Perusahaan           Laporan Keberlanjutan
                  Management Discussion and Analysis         Corporate governance             Sustainability Report




Penggunaan Air [POJK51-F.8] [IDX-E.04]                    Water Use [POJK51-F.8] [IDX-E.04]
Kebutuhan air merupakan salah satu elemen pendukung       Water is an essential supporting element in the
dalam kegiatan operasional Perseroan, baik di             Company’s operational activities, both in office
lingkungan perkantoran maupun pada unit kapal, yang       environments and on board vessels, where it is used
digunakan untuk keperluan dapur, sanitasi, ibadah,        for pantry services, sanitation, religious activities,
serta aktivitas operasional lainnya. Seluruh pasokan      and other operational purposes. All of the Company’s
air Perseroan diperoleh melalui layanan Perusahaan        water supply is obtained through services provided by
Daerah Air Minum (PDAM). Selama 3 tahun terakhir,         the Regional Water Supply Company (PDAM). Over the
Perseroan belum melakukan perhitungan konsumsi air        past 3 years, the Company has not conducted separate
secara terpisah karena penggunaan air di lingkungan       calculations of water consumption, as water usage in
perkantoran dikelola dan dibayarkan langsung oleh         office environments is managed and billed directly by
pengelola gedung, sementara konsumsi air pada unit        the building management, while water consumption on
kapal belum dicatat secara individual.                    board vessels has not been recorded on an individual
                                                          basis.


Selain memenuhi kebutuhan air operasional, Perseroan      In addition to meeting operational water needs, the
juga menerapkan berbagai langkah penghematan air          Company implements various water conservation
sebagai bagian dari upaya pengelolaan sumber daya         measures as part of its responsible resource management
yang bertanggung jawab. Inisiatif tersebut meliputi       efforts. These initiatives include ensuring that all
memastikan seluruh kran air tertutup dengan baik,         water taps are properly closed, conducting periodic
melakukan pemeriksaan berkala terhadap sumber             inspections of water sources, taps, and water storage
air, kran, dan toren untuk mencegah kebocoran, serta      tanks to prevent leaks, and enhancing the socialization
meningkatkan sosialisasi kebijakan hemat air kepada       of water-saving policies to employees through the
karyawan melalui pemasangan stiker di area yang mudah     placement of reminder stickers in visible areas. These
terlihat. Upaya ini dilakukan untuk menumbuhkan           efforts are aimed at raising awareness and encouraging
kesadaran dan mendorong perilaku hemat air di             water-saving behavior within the Company’s working
lingkungan kerja Perseroan.                               environment.


Sistem Pengelolaan Limbah dan Efluen [POJK51-F.13,F.14]   Waste and Effluent Management System [POJK51-F.13,F.14]
[IDX-E.05]                                                [IDX-E.05]


Perseroan menjalankan kegiatan usaha di bidang            The Company conducts its business activities in the
transportasi perairan dengan menyediakan layanan          field of water transportation by providing commodity
pengangkutan komoditas, khususnya hasil tambang,          transportation services, particularly for mining products,
melalui armada kapal tongkang. Kegiatan operasional       through its barge fleet. The Company’s operational
Perseroan tidak melibatkan proses pengolahan              activities do not involve processing activities or the
maupun penggunaan bahan kimia, sehingga limbah            use of chemicals; therefore, the waste generated is
yang dihasilkan umumnya bersifat limbah operasional       generally limited to operational and domestic waste
dan domestik dalam skala terbatas, baik dari aktivitas    on a relatively small scale, arising from both office and
perkantoran maupun kapal.                                 vessel activities.


Dalam 3 tahun terakhir, Perseroan belum melakukan         Over the past 3 years, the Company has not maintained
pencatatan limbah secara kuantitatif yang terpisah,       separate quantitative records of waste generation, as
mengingat jenis dan volume limbah yang dihasilkan         the types and volumes of waste produced are relatively
relatif terbatas serta sebagian besar dikelola melalui    limited and are largely managed in accordance with
prosedur operasional yang berlaku atau diserahkan         applicable operational procedures or handed over to
kepada pihak ketiga yang berizin, termasuk pengelola      licensed third parties, including building management
gedung dan galangan kapal. Selain itu, muatan             and shipyards. In addition, the cargo transported by
yang diangkut menggunakan kapal berada di bawah           the vessels remains under the responsibility of the
tanggung jawab perusahaan penyewa kapal, termasuk         charterers, including the management of any waste that
pengelolaan limbah yang mungkin timbul dari muatan        may arise from such cargo. Nevertheless, the Company
tersebut. Perseroan tetap memastikan bahwa seluruh        ensures that all waste is managed responsibly to prevent
pengelolaan limbah dilakukan secara bertanggung           accumulation and potential environmental pollution.
jawab guna mencegah penumpukan dan potensi
pencemaran lingkungan.




Annual and Sustainability Report 2025                             PT CAKRA BUANA RESOURCES ENERGI Tbk
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        Ikhtisar Perseroan                Laporan Manajemen               Profil Perusahaan
        Company Summary                   Management Report               Company Profile




Keanekaragaman Hayati [POJK51-F,9,F.10]                       Biodiversity [POJK51-F,9,F.10]
Pada tahun 2025, Perseroan belum melaksanakan                 In 2025, the Company had not yet undertaken activities
kegiatan yang secara khusus berkaitan dengan upaya            specifically related to biodiversity conservation efforts.
pelestarian keanekaragaman hayati.


Pencegahan Tumpahan Minyak [POJK51-F.15]                      Oil Spills Prevention [POJK51-F.15]
Pada tahun 2025, Perseroan tidak mencatat adanya              In 2025, the Company recorded no oil spill incidents
insiden tumpahan minyak di seluruh area operasional,          across all operational areas, both onshore and offshore,
baik di daratan maupun perairan, dengan inisiatif             with the following initiatives implemented.
sebagai berikut.
1. Melakukan perhitungan minyak secara berkala.               1. Carry out oil calculations regularly.
2. Memperhatikan saluran bilga kapal (saluran                 2. Pay attention to the ship's bilge channel (liquid
   penampungan zat cair), apabila ada indikasi minyak.           storage channel), if there are indications of oil.
3. Menyediakan alat oily water separator (OWS) untuk          3. Provide an oily water separator (OWS) for the oil
   proses pembuangan minyak dengan kapasitas                     disposal process with a maximum capacity of 15
   maksimal 15 ppm sesuai dengan peraturan yang                  ppm in accordance with applicable regulations.
   berlaku.


Sarana Pengaduan Lingkungan [POJK51-F.16]                     Environmental Complaint Channel [POJK51-F.16]
Perseroan menyediakan mekanisme pengaduan                     The Company provides an environmental grievance
terkait isu lingkungan yang dapat disampaikan melalui         mechanism through which reports may be submitted to
Sekretaris Perusahaan maupun saluran komunikasi               the Corporate Secretary or via the official communication
resmi yang tercantum pada situs web Perseroan. Setiap         channels listed on the Company’s website. All reports
laporan yang diterima akan ditindaklanjuti secara             received are followed up professionally in accordance
profesional sesuai dengan prosedur penanganan                 with the applicable grievance handling procedures. Over
pengaduan yang berlaku. Selama 3 tahun terakhir,              the past 3 years, the Company has not received any
Perseroan tidak menerima laporan maupun keluhan               reports or complaints related to alleged environmental
terkait dugaan pencemaran lingkungan, baik di wilayah         pollution, either in onshore or offshore operational
operasional darat maupun perairan.                            areas.


Biaya Lingkungan Hidup [POJK51-F.4]                           Environmental Cost [POJK51-F.4]
Selama 3 tahun terakhir, Perseroan belum                      Over the past 3 years, the Company has not allocated
mengalokasikan anggaran khusus untuk biaya                    a specific budget for environmental management
pengelolaan lingkungan hidup, karena kegiatan                 costs, as environmental management activities remain
pengelolaan lingkungan masih terintegrasi dalam biaya         integrated within the Company’s overall operational
operasional Perseroan.                                        expenses.




190         PT CAKRA BUANA RESOURCES ENERGI Tbk                                          Laporan Tahunan dan Keberlanjutan 2025
Page 193
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                   Management Discussion and Analysis                    Corporate governance                  Sustainability Report




Lembar Umpan Balik [POJK51-G.3]
Feedback Sheet [POJK51-G.3]
Kami meminta partisipasi kepada para pemangku                         We ask for the participation of stakeholders to provide
kepentingan untuk memberikan umpan balik melalui                      feedback via email or kindlysend this form by fax/post,
email atau mengirim formulir ini melalui fax/pos, setelah             after reading this Annual and Sustainability Report of
membaca Laporan Tahunan dan Laporan Keberlanjutan                     PT Cakra Buana Resources Energi Tbk.
PT Cakra Buana Resources Energi Tbk ini.



   1. Laporan ini telah memberikan informasi yang                      3. Data dan informasi yang disajikan berguna dalam
       bermanfaat mengenai kinerja ekonomi.                                pengambilan keputusan.
       This report has provided useful information on                      The data and information presented are useful in
       economic performance.                                               decision making.
            Tidak Setuju                     Setuju                             Tidak Setuju                     Setuju
            Disagree                         Agree                              Disagree                         Agree


   2. Data dan informasi yang diungkapkan mudah                        4. Laporan ini menarik dan mudah dibaca.
       dipahami, lengkap, transparan, dan berimbang. The                   The report is attractive and easy to read.
       data and information disclosed are easy to understand,
       complete, transparent, and balanced.


            Tidak Setuju                     Setuju                             Tidak Setuju                     Setuju
            Disagree                         Agree                              Disagree                         Agree

       * Ceklis salah satu.
       * Check one out.




Mohon berikan nilai pada kolom sebelah kiri mengenai komponen yang terdapat dalam laporan ini (nilai 1: paling penting, 2: penting,
3: tidak penting, 4: sangat tidak penting). / Please provide a score on the left column about the component available in this report (1:
most important, 2: important, 3: not important, 4: very unimportant)




                                                                         Kesehatan dan Keselamatan Kerja / Occupational Health
         Kinerja Ekonomi / Economic Performance
                                                                         and Safety



                                                                         Pengembangan Sosial dan Kemasyarakatan / Social and
         Produk dan Layanan / Products and Services
                                                                         Community Development



         Kode Etik / Code of Conduct                                     Kepuasan Pelanggan / Customer Satisfaction




         Ketenagakerjaan / Employment                                    Penggunaan Energi / Energy Use




Mohon komentar/saran/usulan terhadap laporan ini. / Please provide your comment/advice/suggestion on this report.

……………………………………………………………………………………………………………………………………………………………………………........….……...
…………………………………………………………………………………………………………………………………………………………………….…..........................




Annual and Sustainability Report 2025                                       PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                191
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       Ikhtisar Perseroan          Laporan Manajemen                  Profil Perusahaan
       Company Summary             Management Report                  Company Profile




Profil Anda
Your Profile
Nama
                            :
Name

Pekerjaan
                            :
Occupation

Institusi/Perusahaan
                            :
Institution

Kontak (telepon/Email)
                            :
Ph. No. /Email


Kategori Pemangku Kepentingan :
Stakeholders Categories :


       Pemerintah                                                   Karyawan
       Government                                                   Employees
       Media                                                        LSM
       Media                                                        Nongovermental Organizations
       Pelanggan                                                    Mitra Kerja
       Customers                                                    Partners
       Masyarakat                                                   Lain-Lain, ….
       Community                                                    Others, …….
       Karyawan                                                                                               Ceklis salah satu.
                                                                                                          *

                                                                                                                       *
                                                                                                                         Choose
       Employees


Saran dan tanggapan yang Anda berikan atas informasi        Please send your suggestions and responses to the
yang disajikan dalam laporan ini mohon dikirimkan           information presented in this report to:
kepada:



                                             Amanda Octania
                                    Sekretaris Perusahaan / Corporate Secretary
                                       Sahid Sudirman Center lt. 42 Unit B
                                         Jl. Jenderal Sudirman Kav. 86
                                               Jakarta Selatan 10220
                                               Telp : (021) 2585 8070
                                            Situs Web: www.cbre.co.id
                                      Email : corporate.secretary@cbre.co.id




Tanggapan terhadap Umpan Balik Laporan Tahun                 Response to the Feedback of the Previous Year's
Sebelumnya [POJK.51-G4]                                      Report [POJK.51-G4]
Perseroan tidak memperoleh tanggapan masukan dari            The Company did not receive any feedback from
para pemangku kepentingan terkait proses penyusunan          stakeholders regarding the preparation process of the
Laporan Tahunan dan Laporan Keberlanjutan tahun              Annual Report and Sustainability Report for the 2024
buku 2024. Namun demikian, Perseroan tetap                   financial year. Nevertheless, the Company remains
berupaya untuk meningkatkan kualitas penyusunan              committed to continuously improving the quality of its
laporan ini pada periode-periode mendatang.                  reporting in future periods.




192       PT CAKRA BUANA RESOURCES ENERGI Tbk                                       Laporan Tahunan dan Keberlanjutan 2025
Page 195
                  Analisa dan Pembahasan Manajemen                    Tata Kelola Perusahaan         Laporan Keberlanjutan
                  Management Discussion and Analysis                  Corporate governance           Sustainability Report




Indeks Pengungkapan Kriteria Peraturan Otoritas
Jasa Keuangan No. 51/POJK.03/2017 [POJK51-G.5]
Financial Services Authority Regulation Criteria Disclosure Index No. 51/
POJK.03/2017 [POJK51-G.5]


   No. Indeks                                                 Uraian                                          Halaman
    Index No.                                                Description                                       Page

                    Penjelasan Strategi Berkelanjutan
       A.1                                                                                                         6
                    Sustainable Strategy Explained

Ikhtisar Kinerja Berkelanjutan
Continuous Performance Overview

                    Ikhtisar Kinerja Ekonomi
       B.1                                                                                                         12
                    Economic Performance Review

                    Ikhtisar Kinerja Lingkungan Hidup
       B.2                                                                                                         17
                    Environmental Performance Review

                    Ikhtisar Kinerja Sosial
       B.3                                                                                                         17
                    Social Performance Review

Profil Perusahaan
Company Profile

                    Visi, Misi, dan Nilai Berkelanjutan
       C.1                                                                                                         44
                    Vision, Mission and Sustainable Values

                    Alamat Perusahaan
       C.2                                                                                                         41
                    Company Address

                    Skala Perusahaan                                                                        12;60;76;172-
       C.3
                    Enterprise Scale                                                                             177

                    Produk, Layanan, dan Kegiatan Usaha yang Dijalankan
       C.4                                                                                                        46;50
                    Products, Services and Business Activities Carried Out

                    Keanggotaan pada Asosiasi
       C.5                                                                                                         22
                    Membership in the Association

                    Perubahan Organisasi Bersifat Signifikan
       C.6                                                                                                         41
                    Significant Organizational Changes

Penjelasan Direksi
Board of Directors Explanation

                    Penjelasan Direksi
       D.1                                                                                                       164-169
                    Board of Directors Explanation

Tata Kelola Berkelanjutan
Sustainable Governance

                    Penanggung Jawab Penerapan Keuangan Berkelanjutan
       E.1                                                                                                         171
                    PIC of Sustainable Finance Implementation

                    Pengembangan Kompetensi terkait Keuangan Berkelanjutan
       E.2                                                                                                         171
                    Sustainable Finance Competencies

                    Penilaian Risiko atas Penerapan Keuangan Berkelanjutan
       E.3                                                                                                       148;172
                    Risk Assessment of the Implementation of Sustainable Finance

                    Hubungan dengan Pemangku Kepentingan
       E.4                                                                                                         9
                    Relationship with Stakeholders




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       Company Summary                 Management Report                   Company Profile




  No. Indeks                                              Uraian                                                Halaman
   Index No.                                             Description                                             Page

                 Permasalahan terhadap Penerapan Keuangan Berkelanjutan
     E.5                                                                                                           170
                 Problems with the Implementation of Sustainable Finance

Kinerja Berkelanjutan
Continuous Performance

                 Kegiatan Membangun Budaya Berkelanjutan
     F.1                                                                                                           172
                 Activities to Build a Sustainable Culture

Kinerja Ekonomi
Economy Performance

                 Perbandingan Target dan Kinerja Produksi, Portofolio, Target Pembiayaan, atau Investasi,
                 Pendapatan dan Laba Rugi
     F.2                                                                                                           109
                 Comparison of Production Targets and Performance, Portfolio, Financing Targets or
                 Investments, Income and Profit and Loss

                 Perbandingan Target dan Kinerja Portofolio, Target Pembiayaan, atau Investasi pada Instrumen
                 Keuangan atau Proyek yang Sejalan dengan Keuangan Berkelanjutan
     F.3                                                                                                           109
                 Comparison of Portfolio Targets and Performance, Financing Targets, or Investments in
                 Financial Instruments or Projects in Line with Sustainable Finance

Kinerja Lingkungan
Environmental Performance

Umum
General

                 Biaya Lingkungan Hidup
     F.4                                                                                                           190
                 Environmental Costs

Aspek Material
Material Aspects

                 Penggunaan Material yang Ramah Lingkungan
     F.5                                                                                                           186
                 Use of Environmentally Friendly Materials

Aspek Energi
Energy Aspects

                 Jumlah dan Intensitas Energi yang Digunakan
     F.6                                                                                                           186
                 Amount and Intensity of Energy Used

                 Upaya dan Pencapaian Efisiensi Energi dan Penggunaan Energi Terbarukan
     F.7                                                                                                           187
                 Efforts and Achievements of Energy Efficiency and Use of Renewable Energy

Aspek Air
Water Aspects

                 Penggunaan Air
     F.8                                                                                                           189
                 Water Use

Aspek Keanekaragaman Hayati
Biodiversity Aspects

                 Dampak dari Wilayah Operasional yang Dekat atau Berada di Daerah Konservasi atau Memiliki
                 Keanekaragaman Hayati
     F.9                                                                                                           190
                 Impacts of Operational Areas That Are Close to or Located in Conservation Areas or Have
                 Biodiversity

                 Usaha Konservasi Keanekaragaman Hayati
     F.10                                                                                                          190
                 Biodiversity Conservation Efforts




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                  Analisa dan Pembahasan Manajemen                   Tata Kelola Perusahaan             Laporan Keberlanjutan
                  Management Discussion and Analysis                 Corporate governance               Sustainability Report




   No. Indeks                                               Uraian                                               Halaman
    Index No.                                              Description                                            Page

Aspek Emisi
Emission Aspects

                    Jumlah dan Intensitas Emisi yang Dihasilkan berdasarkan Jenisnya
       F.11                                                                                                         187
                    Amount and Intensity of Emissions Produced by Type

                    Upaya dan Pencapaian Pengurangan Emisi yang Dilakukan
       F.12                                                                                                         187
                    Efforts and Achievements of Emission Reductions Carried Out

Aspek Limbah dan Efluen
Aspects of Waste and Effluent

                    Jumlah Limbah dan Efluen yang Dihasilkan berdasarkan Jenis
       F.13                                                                                                         189
                    Amount of Waste and Effluent Produced by Type

                    Mekanisme Pengelolaan Limbah dan Efluen
       F.14                                                                                                         189
                    Waste and Effluent Management Mechanisms

                    Tumpahan yang Terjadi (jika ada)
       F.15                                                                                                         190
                    Spills That Happen (if any)

Aspek Pengaduan Terkait Lingkungan Hidup
Aspects of Complaints Related to the Environment

                    Jumlah dan Materi Pengaduan Lingkungan Hidup yang Diterima dan Diselesaikan
       F.16                                                                                                         190
                    Number and Materials of Environmental Complaints Received and Resolved

Kinerja Sosial
Social Performance

                    Komitmen LJK, Emiten, atau Perusahaan Publik untuk Memberikan Layanan atas Produk dan/
                    atau Jasa yang Setara Kepada Konsumen
       F.17                                                                                                         181
                    Commitment of LJK, Issuers or Public Companies to Provide Services for Equivalent Products
                    and/or Services to Consumers

Aspek Ketenagakerjaan
Employment Aspects

                    Kesetaraan Kesempatan Bekerja
       F.18                                                                                                         172
                    Equality of Employment Opportunities

                    Tenaga Kerja Anak dan Tenaga Kerja Paksa
       F.19                                                                                                         174
                    Child Labor and Forced Labor

                    Upah Minimum Regional
       F.20                                                                                                         177
                    Regional Minimum Wage

                    Lingkungan Bekerja yang Layak dan Aman
       F.21                                                                                                         178
                    Decent and Safe Working Environment

                    Pelatihan dan Pengembangan Kemampuan Pegawai
       F.22                                                                                                         177
                    Employee Training and Capacity Building

Aspek Masyarakat
Aspects of Society

                    Dampak Operasi terhadap Masyarakat Sekitar
       F.23                                                                                                         179
                    Impact of Operation on Surrounding Communities

                    Pengaduan Masyarakat
       F.24                                                                                                         181
                    Community Complaints




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       Company Summary                 Management Report                        Company Profile




  No. Indeks                                               Uraian                                                    Halaman
   Index No.                                              Description                                                 Page

                Kegiatan Tanggung Jawab Sosial Lingkungan (TJSL)
     F.25                                                                                                               180
                Environmental Social Responsibility Activities

Tanggung Jawab Pengembangan Produk/Jasa Berkelanjutan
Responsibility for Sustainable Product/Service Development

                Inovasi dan Pengembangan Produk/Jasa Keuangan Berkelanjutan
     F.26                                                                                                               182
                Innovation and Development of Sustainable Financial Products/Services

                Produk/Jasa yang sudah Dievaluasi Keamanannya bagi Pelanggan
     F.27                                                                                                               183
                Products/Services that have been Evaluated for Safety for Customers

                Dampak Produk/Jasa
     F.28                                                                                                               184
                Impact of Products/Services

                Jumlah Produk yang Ditarik Kembali
     F.29                                                                                                               184
                Number of Recalled Products

                Survei Kepuasan Pelanggan terhadap Produk dan/atau Jasa Keuangan Berkelanjutan
     F.30                                                                                                               184
                Customer Satisfaction Survey of Sustainable Financial Products and/or Services

Lain-Lain
Others

                Verifikasi Tertulis dari Pihak Independen (jika ada)
     G.1                                                                                                                 11
                Written Verification from Independent Parties (if applicable)

                Surat Pernyataan Anggota Direksi tentang Tanggung Jawab atas Laporan Berkelanjutan
     G.2        Statement Letter of Members of the Board of Directors regarding Responsibility for Continuous            85
                Reports

                Lembar Umpan Balik
     G.3                                                                                                                191
                Feedback Sheet

                Tanggapan terhadap Umpan Balik Laporan Tahun Sebelumnya
     G.4                                                                                                                192
                Response to Previous Year’s Report Feedback

                Daftar Pengungkapan sesuai Peraturan Otoritas Jasa Keuangan No. 51 tahun 2017
     G.5        List of Disclosures in accordance with the Financial Services Authority Regulation No. 51 of            193
                2017




196         PT CAKRA BUANA RESOURCES ENERGI Tbk                                              Laporan Tahunan dan Keberlanjutan 2025
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                  Management Discussion and Analysis                        Corporate governance                  Sustainability Report




Daftar Pengungkapan Metrik Pelaporan ESG
Disclosure List of ESG Reporting Metrics

   Kinerja         No. Indeks                                              Nama Metrik                                       Halaman
 Performance        Index No.                                              Metric Name                                        Page
                                   Laporan Emisi Gas Rumah Kaca
                     [IDX-E.01]                                                                                                 187
                                   Greenhouse Gas Emissions Report
                                   Intensitas Emisi Gas Rumah Kaca
                     [IDX-E.02]                                                                                                 188
                                   Greenhouse Gas Emission Intensity
                                   Konsumsi Energi Listrik
                     [IDX-E.03]                                                                                                 186
                                   Electrical Energy Consumption
  Lingkungan                       Konsumsi Air
                     [IDX-E.04]                                                                                                 189
  Environment                      Water Consumption
                                   Limbah yang Dihasilkan
                     [IDX-E.05]                                                                                                 189
                                   Waste Generated
                                   Komitmen Perusahaan untuk Mencapai Target Net Zero Emission
                     [IDX-E.06]                                                                                                 188
                                   Company Commitment to Achieve Net Zero Emission Target
                                   Komitmen Perusahaan untuk Mengurangi Emisi Gas Rumah Kaca
                     [IDX-E.07]                                                                                                 187
                                   Company commitment to Reducing Greenhouse Gas Emissions
                                   Kesetaraan Gender
                     [IDX-S.01]                                                                                                 172
                                   Gender Equality
                                   Pegawai Berdasarkan Gender dan Kelompok Umur
                     [IDX-S.02]                                                                                                 176
                                   Employees by Gender and Age Group
                                   Tingkat Pergantian Pegawai
                     [IDX-S.03]                                                                                                 177
                                   Employee Turnover Rate
                                   Jumlah Pegawai Sementara
                     [IDX-S.04]                                                                                                 177
                                   Number of Temporary Employees
                                   Pelatihan dan Pengembangan Pegawai
                     [IDX-S.05]                                                                                                 177
                                   Employee Training and Development
                                   Jumlah Kecelakaan Kerja
                     [IDX-S.06]                                                                                                 178
                                   Number of Work Accidents
                                   Kejadian Pelanggaran Hak Asasi Manusia
     Sosial          [IDX-S.07]                                                                                               172;174
                                   Incidents of Human Rights Violations
     Social                        Kebijakan Pelecehan Seksual dan/atau Non-Diskriminasi
                     [IDX-S.08]                                                                                                 172
                                   Sexual Harassment and/or Non-Discrimination Policy
                                   Kebijakan Mengenai Hak Asasi Manusia
                     [IDX-S.09]                                                                                                 174
                                   Policy Regarding Human Rights
                                   Kebijakan Pekerja Anak dan/atau Pekerja Paksa
                     [IDX-S.10]                                                                                                 174
                                   Child Labor and/or Forced Labor Policy
                                   Kebijakan Mengenai Kesehatan dan Keselamatan Kerja serta Lingkungan Kerja yang Aman dan
                                   Layak diberikan kepada Seluruh Karyawan
                     [IDX-S.11]                                                                                                 178
                                   Policies regarding Occupational Health and Safety as well as a Safe and Decent Working
                                   Environment are provided to all employees
                     [IDX-S.12]    Corporate Social Responsibility                                                              180
                                   Keberagaman Manajemen dan Independensi
                     [IDX-G.01]                                                                                                 123
                                   Management Diversity and Independence
                                   Total Kehadiran Direksi dan Komisaris ke Rapat Dewan
                     [IDX-G.02]                                                                                               125;130
                                   Total Attendance of Directors and Commissioners to Board Meetings
                                   Kebijakan Pemisahan Chairman of the Board dan Chief Executive Officer (CEO)
                     [IDX-G.03]                                                                                                 112
                                   Separation Policy of Chairman of the Board and Chief Executive Officer (CEO)
                                   Kebijakan Penilaian Dewan Direksi dan Komisaris
                     [IDX-G.04]                                                                                               126;131
                                   Board of Directors and Commissioners Assessment Policy
  Tata Kelola                      Kebijakan Pelatihan Dewan Direksi dan Komisaris
                     [IDX-G.05]                                                                                               126;131
  Governance                       Training Policy for the Board of Directors and Commissioners
                                   Kriteria Khusus Pemilihan Dewan
                     [IDX-G.06]                                                                                                 132
                                   Specific Criteria for Board Selection
                                   Kode Etik dan/atau Anti-Korupsi
                     [IDX-G.07]                                                                                               154;155
                                   Code of Ethics and/or Anti-Corruption
                                   Kebijakan Perlakuan Adil terhadap Pemegang Saham
                     [IDX-G.08]                                                                                                79;156
                                   Fair Treatment Policy for Shareholders
                                   Pencegahan Konflik Kepentingan
                     [IDX-G.09]                                                                                                 136
                                   Conflict of Interest Prevention




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          Laporan
          Keuangan
          Financial Statements




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                   PT CAKRA BUANA RESOURCES ENERGI Tbk

                   LAPORAN KEUANGAN/
                   FINANCIAL STATEMENTS

                   TANGGAL 31 DESEMBER 2025 DAN 2024 SERTA
                   UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2025 DAN 2024/
                   AS OF DECEMBER 31, 2025 AND 2024 AND
                   FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024




200   PT CAKRA BUANA RESOURCES ENERGI Tbk                     Laporan Tahunan dan Keberlanjutan 2025
Page 203
                                       DAFTAR ISI /TABLE OF CONTENTS

                                                 Halaman/
                                                  Pages

Laporan Keuangan                                                                      Financial Statements

 Laporan Posisi Keuangan                            1-2                    Statements of Financial Position

 Laporan Laba Rugi dan                                                         Statements of Profit or Loss
   Penghasilan Komprehensif Lain                     3                 and Other Comprehensive Income

 Laporan Perubahan Ekuitas                           4                    Statements of Changes in Equity

 Laporan Arus Kas                                    5                           Statements of Cash Flows

 Catatan Atas Laporan Keuangan                     6-87                  Notes to the Financial Statements




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              PT CAKRA BUANA RESOURCES ENERGI TBK                                                           PT CAKRA BUANA RESOURCES ENERGI TBK
              LAPORAN POSISI KEUANGAN                                                                            STATEMENTS OF FINANCIAL POSITION
              Per 31 Desember 2025 dan 2024                                                                           As of December 31, 2025 and 2024
              (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)




                                                             Catatan/       31 Desember 2025/       31 Desember 2024/
                                                              Notes         December 31, 2025       December 31, 2024

              ASET                                                                                                                               ASSETS
              ASET LANCAR                                                                                                            CURRENT ASSETS
              Kas dan setara kas                               2g, 4            14.299.014.327          3.251.404.222           Cash and cash equivalents
              Piutang usaha                                                                                                           Account receivables
                Pihak ketiga - bersih                          2h, 5            25.772.292.417          7.799.713.266                 Third parties - net
              Piutang lain-lain                                                                                                         Other receivables
                Pihak ketiga                                     6               5.138.443.486            319.711.092                      Third parties
              Persediaan                                         7               6.164.981.599          5.616.404.888                          Inventories
              Biaya dibayar dimuka                             2i, 8               341.397.435            582.658.472                   Prepaid expenses
              Pajak dibayar dimuka                             21a                           -          1.484.550.922                         Prepaid tax
              Uang muka                                          9               2.483.200.883            545.957.946                  Advance payments
              Deposit sewa                                      10                 453.300.000          3.574.446.667                        Rent deposit
              Jumlah aset lancar                                                54.652.630.147         23.174.847.475                 Total current assets

              ASET TIDAK LANCAR                                                                                                NON CURRENT ASSETS
              Uang muka pembelian aset tetap                      9                             -         874.746.601    Advances purchase of fixed assets
              Piutang lain-lain                                                                                                         Other receivables
                Pihak berelasi                              2d, 6, 32                         -         2.988.885.984                      Related party
              Aset tetap, neto                                2j, 11          1.944.491.209.818       288.131.096.234                    Fixed assets, net
              Aset hak-guna, neto                           2d, 2k, 12            5.700.083.416        17.258.270.878             Right-of-use assets, net
              Deposit sewa                                   10, 32                 400.000.000         1.225.000.000                        Rent deposit
              Jumlah aset tidak lancar                                        1.950.591.293.234       310.477.999.697            Total non current assets
              JUMLAH ASET                                                     2.005.243.923.381       333.652.847.172                     TOTAL ASSETS

              LIABILITAS DAN EKUITAS                                                                                            LIABILITIES AND EQUITY
              LIABILITAS JANGKA PENDEK                                                                                             CURRENT LIABILITIES
              Utang usaha                                                                                                                Account payables
                Pihak ketiga                                   2l, 13           20.673.662.066         13.851.571.475                       Third parties
              Utang lain-lain                                                                                                              Other payables
                Pihak berelasi                                                   1.419.000.000            570.000.000                    Related parties
                Pihak ketiga                                    14             758.701.750.189             11.750.189                       Third parties
              Utang jaminan                                     18               5.712.660.000          9.772.660.000                     Security deposit
              Utang pajak                                       21b              3.149.463.892            656.023.863                      Taxes payable
              Biaya yang masih harus dibayar                    15               1.113.752.722          5.634.887.144                   Accrued expenses
              Pinjaman bank                                     22               9.657.868.000                      -                            Bank loan
              Pendapatan diterima dimuka                        17                           -         11.683.333.334                   Unearned revenue
              Liabilitas jangka panjang yang jatuh                                                                                      Current portion of
                tempo dalam waktu satu tahun:                                                                                         long-term liabilities
                Pinjaman bank                                   22               7.359.723.627         21.223.542.259                         Bank loan
                Liabilitas sewa                            2d, 2k, 19, 32        1.221.476.287          5.241.383.211                    Lease liabilities
                Utang pembiayaan                                16                         -              167.570.850                 Financing payable
              Jumlah liabilitas jangka pendek                                  809.009.356.783         68.812.722.325              Total current liabilities




Catatan atas laporan keuangan merupakan                                                                                                     The accompanying notes form an
bagian yang tidak terpisahkan dari laporan keuangan ini.                              1                                            integral part of these financial statements.




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                    PT CAKRA BUANA RESOURCES ENERGI TBK                                             PT CAKRA BUANA RESOURCES ENERGI TBK
                    LAPORAN LABA RUGI DAN PENGHASILAN                                                                   STATEMENTS OF PROFIT
                     KOMPREHENSIF LAIN                                                         OR LOSS AND OTHER COMPREHENSIVE INCOME
                    Untuk tahun yang berakhir 31 Desember 2025 dan 2024                            For the years ended December 31, 2025 and 2024
                    (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                    (Expressed in Rupiah unless otherwise stated)




                                                               Catatan/
                                                                Notes         2025                2024
                    PENDAPATAN                                  2q, 26    55.163.208.359     62.173.596.046                               REVENUES
                    BEBAN POKOK PENDAPATAN                      2q, 27    (53.646.763.562)   (56.120.537.866)                  COST OF REVENUES
                    LABA BRUTO                                             1.516.444.797      6.053.058.180                          GROSS PROFIT
                    BEBAN USAHA                                                                                           OPERATING EXPENSES
                     Beban umum dan administrasi                2q,28     (31.790.879.159)   (32.576.623.273) General and administrative expenses
                     Penghasilan (beban) lain-lain-neto         2q,29     (20.143.445.664)    (9.726.188.741)      Other income (expenses) - net
                    RUGI USAHA                                            (50.417.880.026)   (36.249.753.834)                     OPERATING LOSS
                    Beban keuangan                              2m,30     (19.275.106.074)   (14.665.557.902)                       Finance expenses
                    RUGI SEBELUM PAJAK PENGHASILAN                        (69.692.986.099)   (50.915.311.736)          LOSS BEFORE INCOME TAX
                    BEBAN PAJAK PENGHASILAN                      21c        (661.958.500)      (746.083.153)               INCOME TAX EXPENSES
                    RUGI NETO TAHUN BERJALAN                              (70.354.944.599)   (51.661.394.889)             NET LOSS FOR THE YEAR
                    Penghasilan / (beban) komprehensif lain:                                                Other comprehensive income / (loss):
                    Pos-pos yang tidak akan                                                                                      Items which are not
                     direklasifikasi ke laba rugi:                                                                  reclassified to profit and loss:
                     Pengukuran kembali imbalan                                                                                Remeasurement of
                       pasca kerja jangka panjang            20              143.448.989         90.259.100                 retirement liabilities
                    JUMLAH RUGI KOMPREHENSIF                                                                        TOTAL COMPREHENSIVE LOSS
                     TAHUN BERJALAN - NETO                                (70.211.495.610)   (51.571.135.789)                 CURRENT YEAR

                    Laba Per Saham:                                                                                              Earnings Per Share:

                      Dasar                                       31               (15,50)            (11,38)                                   Basic

                      Dilusian                                    31               (12,88)            (11,38)                                 Diluted




                            Jakarta, 6 Maret / March 2026




                                Suminto Husin Giman
                          Direktur Utama/ President Director




Catatan atas laporan keuangan merupakan                                                                                                     The accompanying notes form an
bagian yang tidak terpisahkan dari laporan keuangan ini.                             3                                             integral part of these financial statements.




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         PT CAKRA BUANA RESOURCES ENERGI
                                   PT CAKRA
                                         TBKBUANA RESOURCES ENERGI TBK                                                                                                PT CAKRA BUANA RESOURCES ENERGI
                                                                                                                                                                                                PT CAKRA
                                                                                                                                                                                                      TBKBUANA RESOURCES ENERGI TBK
         LAPORAN PERUBAHAN EKUITASLAPORAN PERUBAHAN EKUITAS                                                                                                                  STATEMENTS OF CHANGES IN EQUITY   STATEMENTS OF CHANGES IN EQUITY
         Untuk tahun yang berakhir 31 Desember
                                           Untuk
                                               2025
                                                 tahun
                                                    danyang
                                                        2024berakhir 31 Desember 2025 dan 2024                                                                       For the years ended December 31, 2025
                                                                                                                                                                                                       For the
                                                                                                                                                                                                            andyears
                                                                                                                                                                                                                2024ended December 31, 2025 and 2024
         (Disajikan dalam Rupiah, kecuali dinyatakan
                                             (Disajikan
                                                      lain)
                                                         dalam Rupiah, kecuali dinyatakan lain)                                                                              (Expressed in Rupiah unless otherwise
                                                                                                                                                                                                                (Expressed
                                                                                                                                                                                                                   stated) in Rupiah unless otherwise stated)

                                                                                                         Penghasilan                                   Penghasilan
                     PT CAKRA BUANA RESOURCES ENERGI TBK Tambahan modal                                komprehensif lain/
                                                                                                                       Tambahan modal              komprehensif lain/                              PT CAKRA BUANA RESOURCES ENERGI TBK
                     LAPORAN PERUBAHAN EKUITAS                          disetor/             Other       disetor/             Other                                                                       STATEMENTS OF CHANGES IN EQUITY
                                        Catatan/
                     Untuk tahun yang berakhir      Modal saham/
                                               31 Desember              Catatan/
                                                                     Additional
                                                            2025 dan 2024       paid Modal saham/
                                                                                        comprehensive             Defisit/ comprehensive
                                                                                                      Additional paid              Total ekuitas/                                      Defisit/              Total ekuitas/
                                                                                                                                                                                                  For the years ended December 31, 2025 and 2024
                                               Notes        Share capital           inNotes
                                                                                      capital        Share capital
                                                                                                            income             in capitalDeficit         incomeTotal equity            Deficit                  Total equity
                     (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                                                                                                (Expressed in Rupiah unless otherwise stated)
        Saldo per 1 Januari 2024                Saldo per 1113.450.790.525
                                                             Januari 2024          59.480.725.336 113.450.790.525
                                                                                                           (115.041.646) 59.480.725.336
                                                                                                                                   (4.133.579.622)(115.041.646)
                                                                                                                                                       168.682.894.593                         Balance as 168.682.894.593
                                                                                                                                                                                       (4.133.579.622)    of January 1, 2024               Balance as of January 1, 2024

        Pelaksanaan waran                       Pelaksanaan
                                                23b         waran 846.525               7.889.613
                                                                                       23b                  846.525             Penghasilan
                                                                                                                                  7.889.613                            8.736.138                                   8.736.138
                                                                                                                                                                                                            Exercise of warrants                        Exercise of warrants
                                                                                                 Tambahan modal            komprehensif lain/
        Rugi neto tahun berjalan                Rugi
                                                19 neto tahun berjalan      -           19       -                 -       -                  -
                                                                                                                                         (51.661.394.889)         (51.661.394.889)
                                                                                                                                                                        -          (51.661.394.889)         (51.661.394.889)
                                                                                                                                                                                                            Net loss for the year                       Net loss for the year
                                                                                                        disetor/                   Other
        Penghasilan / (beban)                   Penghasilan Catatan/
                                                            / (beban)       Modal saham/         Additional paid               comprehensive                      Defisit/                 TotalOther
                                                                                                                                                                                                ekuitas/
                                                                                                                                                                                                      comprehensive income/                  Other comprehensive income/
           komprehensif lain                     19komprehensif lain
                                                            Notes           -Share capital
                                                                                       19        -             90.259.100
                                                                                                       in capital  -              income -               - 90.259.100
                                                                                                                                                                   90.259.100
                                                                                                                                                               Deficit                              -
                                                                                                                                                                                            Total equity            90.259.100
                                                                                                                                                                                                                          (loss)                                     (loss)

        Saldo per 31Saldo
                     Desember
                          per 12024       Saldo per 31
                                Januari 2024        113.451.637.050
                                                       Desember 2024     59.488.614.949 113.451.637.050
                                                                   113.450.790.525                (24.782.546) 59.488.614.949
                                                                                          59.480.725.336            (115.041.646)           117.030.235.842
                                                                                                                        (55.794.974.511)(24.782.546)                Balance as of December
                                                                                                                                              (4.133.579.622) (55.794.974.511)
                                                                                                                                                                  168.682.894.593               2024 asBalance
                                                                                                                                                                                            31,Balance
                                                                                                                                                                                  117.030.235.842       of January     2024 31, 2024
                                                                                                                                                                                                                    December
                                                                                                                                                                                                               as of1,

        Pelaksanaan waran                       Pelaksanaan
                                                23b         waran 48.975               23b456.447            48.975        -         456.447             -             - 505.422                       -    Exercise 505.422
                                                                                                                                                                                                                     of warrants                        Exercise of warrants
                     Pelaksanaan waran                          23b                 846.525                7.889.613                                                                                8.736.138                           Exercise of warrants
        Rugi neto tahun berjalan                Rugi neto tahun berjalan    -                    -                 -       -             (70.354.944.599)
                                                                                                                                              -                   (70.354.944.599)
                                                                                                                                                                        -          (70.354.944.599)         (70.354.944.599)
                                                                                                                                                                                                            Net loss for the year                       Net loss for the year
                     Rugi neto tahun berjalan                   19                           -                         -                           -              (51.661.394.889)         (51.661.394.889)                              Net loss for the year
        Penghasilan / (beban)                   Penghasilan / (beban)                                                                                                                              Other comprehensive income/         Other comprehensive income/
                   Penghasilan
           komprehensif lain   / (beban)         19komprehensif lain        -           19       -                -
                                                                                                             143.448.989                     -           - 143.448.989
                                                                                                                                                                   143.448.989                         -        143.448.989Other comprehensive income/
                                                                                                                                                                                                                        (loss)                              (loss)
        Saldo per 31 Desember 2025 lain
                      komprehensif                             19
                                                             Desember  2025
                                                          113.451.686.025
                                                Saldo per 31                                -
                                                                                   59.489.071.396                 -
                                                                                                           118.666.443
                                                                                                  113.451.686.025             90.259.100
                                                                                                                       59.489.071.396
                                                                                                                               (126.149.919.110)118.666.443                     90.259.100
                                                                                                                                                     46.819.245.654 -(126.149.919.110)
                                                                                                                                                                            Balance as of December  31, 2025
                                                                                                                                                                                           46.819.245.654                               Balance as of(loss)
                                                                                                                                                                                                                                                      December 31, 2025

                     Saldo per 31 Desember 2024                             113.451.637.050           59.488.614.949                (24.782.546)                  (55.794.974.511)        117.030.235.842               Balance as of December 31, 2024

                     Pelaksanaan waran                          23b                  48.975                  456.447                               -                               -                 505.422                            Exercise of warrants
                     Rugi neto tahun berjalan                                                -                         -                           -              (70.354.944.599)         (70.354.944.599)                              Net loss for the year
                     Penghasilan / (beban)                                                                                                                                                                                     Other comprehensive income/
                        komprehensif lain                       19                           -                         -            143.448.989                                    -              143.448.989                                          (loss)
                     Saldo per 31 Desember 2025                             113.451.686.025           59.489.071.396                118.666.443                  (126.149.919.110)          46.819.245.654              Balance as of December 31, 2025




an keuangan merupakanCatatan atas laporan keuangan merupakan                                                                                                                                                                 The accompanying notes form an              The accompanying notes form an
erpisahkan dari laporan
                     bagian
                        keuangan
                            yang tidak
                                  ini. terpisahkan dari laporan keuangan ini.                                 4                                              4                                                      integral part of these financial statements.integral part of these financial statements.




n atas laporan keuangan merupakan                                                                                                                                                                                                                        The accompanying notes form an
 yang tidak terpisahkan dari laporan keuangan ini.                                                                                   4                                                                                                          integral part of these financial statements.




                     210                    PT CAKRA BUANA RESOURCES ENERGI Tbk                                                                                                             Laporan Tahunan dan Keberlanjutan 2025
Page 213
             PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
             LAPORAN ARUS KAS                                                                                       STATEMENTS OF CASH FLOWS
             Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
             (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah, unless otherwise stated)



                                                                    2025                     2024

             ARUS KAS DARI                                                                                                    CASH FLOWS FROM
              AKTIVITAS OPERASI                                                                                         OPERATING ACTIVITIES
             Penerimaan kas pelanggan                             13.149.643.413         73.891.199.568               Cash receipts from customers
             Pembayaran kepada pemasok dan                                                                                Payments to suppliers and
              operasional lainnya                                (42.199.977.575)        (44.130.721.348)                other operating activities
             Pembayaran kepada direksi dan karyawan               (8.506.025.011)         (8.486.064.188)       Payments to directors and employees
             Pembayaran bunga                                    (19.011.728.694)        (13.841.485.689)                           Interest received
             Penerimaan lain-lain                                      86.071.599              25.316.549                              Other receipts
             Pembayaran pajak                                       (661.958.500)           (746.083.153)                              Tax payments
             Kas bersih diperoleh dari                                                                                    Net cash generated from
              (digunakan untuk) aktivitas operasi                (57.143.974.768)          6.712.161.739             (used in) operating activities

             ARUS KAS DARI                                                                                                    CASH FLOWS FROM
              AKTIVITAS INVESTASI                                                                                         INVESTING ACTIVITIES
             Perolehan aset tetap                                (26.736.950.146)       (177.323.495.078)                  Acquisition of fixed assets
             Pembayaran uang muka pembelian                                     -           (874.746.601)             Payment for purchase advance
             Pelepasan aset tetap                                   8.000.000.000                       -                     Disposal of fixed assets
             Pembayaran piutang lain - lain                                                                                              Payments of
              pihak berelasi                                                    -           (831.525.362)      other recevaible from related parties
             Kas bersih digunakan untuk                                                                                            Net cash used in
               aktivitas investasi                               (18.736.950.146)       (179.029.767.041)                      investing activities

             ARUS KAS DARI                                                                                                   CASH FLOWS FROM
              AKTIVITAS PENDANAAN                                                                                        FINANCING ACTIVITIES
             Penerimaan utang lain-lain                                                                              Cash receipt from other payable
              pihak berelasi                                    35.066.771.872             20.406.095.714                         to related parties
             Pelaksanaan waran                                         505.422                  8.736.138                       Exercise of warrants
             Pembayaran pinjaman bank                        (137.629.039.425)           (13.362.857.143)                   Repayment of bank loan
             Penerimaan pinjaman bank                          189.657.868.000                          -                    Proceeds of bank loans
             Pembayaran liabilitas sewa                          (167.570.850)            (5.068.447.565)                Repayment of lease liability
             Kas bersih diperoleh                                                                                          Net cash generated from
              dari aktivitas pendanaan                            86.928.535.019           1.983.527.144                       financing activities
             KENAIKAN / (PENURUNAN) BERSIH                                                                        NET INCREASE / (DECREASE) IN
              KAS DAN SETARA KAS                                  11.047.610.105        (170.334.078.157)         CASH AND CASH EQUIVALENTS
             KAS SETARA KAS PADA                                                                                  CASH AND CASH EQUIVALENTS
              AWAL TAHUN                                           3.251.404.222         173.585.482.379              AT BEGINNING OF YEAR
             KAS SETARA KAS PADA                                                                                  CASH AND CASH EQUIVALENTS
              AKHIR TAHUN                                         14.299.014.327           3.251.404.222                 AT ENDING OF YEAR




Catatan atas laporan keuangan merupakan bagian yang                                                                                   The accompanying notes form an
tidak terpisahkan dari laporan keuangan ini.                                        5                                        integral part of these financial statements.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                               For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah unless otherwise stated)

1. UMUM                                                                 1. GENERAL

    a.   Pendirian dan informasi umum                                      a. Establishment and general information

         PT Cakra Buana Resources Energi, Tbk (“Perusahaan”)                  PT Cakra Buana Resources Energi, Tbk (“The
         didirikan di Jakarta berdasarkan Akta Notaris Bonifasius             Company”) was established in Jakarta based on
         Sulistiyo Wibowo, S.H., M.Kn No. 5 tanggal 17 Juni                   notarial deed No. 5 dated Juni 17, 2016, of Mrs.
         2016. Akta Pendirian Perusahaan telah mendapat                       Bonifasius Sulistiyo Wibowo, S.H, M.Kn. The
         pengesahan dari Menteri Hukum dan Hak Asasi                          company's deed of establishment was approved by
         Manusia Republik Indonesia berdasarkan Surat                         Minister of Law and Human Rights of the Republic of
         Keputusan No. AHU-0029831.AH.01.01. tanggal 21 Juni                  Indonesia pursuant to Decision Letter No. AHU-
         2016.                                                                0029831.AH.01.01. dated june 21, 2016.


         Anggaran Dasar Perusahaan telah mengalami                            The Company’s Articles of Association have been
         beberapa kali perubahan, terakhir dengan Akta Notaris                amended several times, most recently by Notarial Deed
         No. 19 dari Notaris Yulia SH., pada tanggal 10                       No. 19 of Yulia, S.H., dated November 10, 2025. In
         November 2025. Sehubungan dengan penambahan                          connection with the initial public offering of shares,
         kegiatan usaha Perseroan. Akta tersebut telah diterima               such deed has been received and recorded by the
         dan dicatat oleh Kementerian Hukum dan Hak Asasi                     Ministry of Law and Human Rights of the Republic of
         Manusia Republik Indonesia dengan No. AHU-                           Indonesia under AHU-0075384.AH.01.02.Year 2025
         0075384.AH.01.02.Tahun 2025 tanggal 12 November                      dated November 12, 2025.
         2025.

         Sesuai dengan Pasal 3 Anggaran Dasar Perusahaan,                     In accordance with Article 3 of the Company's Articles
         lingkup usaha Perusahaan melakukan kegiatan usaha                    of Association, the scope of the Company's business
         dalam bidang angkutan laut dalam negeri untuk barang                 activities includes domestic sea transportation of
         umum, angkutan laut luar negeri untuk barang umum                    general cargo, international sea transportation of
         dan aktivitas penunjang angkutan perairan lainnya.                   general cargo, and other water transportation support
         Kegiatan usaha Perusahaan saat ini antara lain                       activities. The Company's current business activities
         penyediaan kapal tongkang dan kapal tunda serta                      include the provision of barges and tugboats, as well as
         aktivitas penunjang perairan lainnya untuk domestik dan              other domestic and international water transportation
         luar negeri.                                                         support activities.


         Kantor Pusat Perusahaan berlokasi di Sahid Sudirman                  The Company is domiciled in South Jakarta, with its
         Centre Lantai 42, unit 42B Jl. Jend. Sudirman Kav. 86,               head office located at Sahid Sudirman Centre, 42nd
         Jakarta Selatan. Sebelumnya, kantor pusat Perusahaan                 Floor, Unit 42B, Jl. Jend. Sudirman Kav. 86, South
         berlokasi di Sona Topas Tower Lt. 5A Jl. Jenderal                    Jakarta. Previously, the Company's head office was
         Sudirman Kav.26. Kelurahan Karet, Kecamatan                          located at Sona Topas Tower, 5th Floor A, Jl. Jendral
         Setiabudi, Kota Jakarta Selatan. Perusahaan mulai                    Sudirman Kav. 26, Karet Sub-district, Setiabudi District,
         beroperasi secara komersial pada tahun 2016.                         South Jakarta. The Company commenced its
                                                                              commercial operations in 2016.

         Pemegang saham pengendali dan pemilik manfaat                        The controlling shareholders and beneficial owners of
         Perusahaan adalah Suganto Gunawan dan Suminto                        the Company are Suganto Gunawan and Suminto
         Husin Giman melalui PT Omudas Investment Holdco                      Husin Giman, through PT Omudas Investment Holdco,
         dengan kepemilikan langsung pada saham Perusahaan.                   with direct ownership of the Company's shares.




                                                                    6




212         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                    Laporan Tahunan dan Keberlanjutan 2025
Page 215
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

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

           b. Dewan komisaris, direksi, komite audit, sekretaris                  b. Boards of commisioners, directors, audit
              perusahaan dan karyawan                                                committee and corporate secretary and employees

               Susunan Dewan Komisaris dan Direksi Perusahaan                          The composition of the Company's Board of
               pada tanggal 31 Desember 2025 adalah sebagai                            Commisioners and Board of Directors as of December
               berikut:                                                                31, 2025 is as follows :

               Dewan Komisaris                                                                                        Board of Commisioners
               Komisaris Utama                                    Suganto Gunawan                                      President Commissioner
               Komisaris                                               Suwito                                                    Commissioner
               Komisaris Independen                              H.R. Agung Laksono                               Independence Commissioner

               Direktur                                                                                                             Directors
               Direktur Utama                                    Suminto Husin Giman                                         President Director
               Direktur                                            Amanda Octania                                                      Director

               Susunan Dewan Komisaris dan Direksi Perusahaan                          The composition of the Company's Board of
               pada tanggal 31 Desember 2024 adalah sebagai                            Commisioners and Board of Directors as of December
               berikut:                                                                31, 2024 is as follows :

               Dewan Komisaris                                                                                        Board of Commisioners
               Komisaris Utama                                    Suganto Gunawan                                      President Commissioner
               Komisaris                                                Suwito                                                   Commissioner
               Komisaris                                         H.R. Agung Laksono                                              Commissioner
               Komisaris Independen                              Rivolinggu Sampudji                              Independence Commissioner
               Komisaris Independen                                George Samuel                                  Independence Commissioner

               Direktur                                                                                                             Directors
               Direktur Utama                                    Suminto Husin Giman                                         President Director
               Direktur                                            Amanda Octania                                                      Director

               Personel manajemen kunci Perusahaan adalah orang -                      The Company's key management personnel are those
               orang yang mempunyai kewenangan dan tanggung                            individuals who have the authority and responsibility for
               jawab untuk merencanakan, memimpin dan                                  planning, directing, and controlling the activities of the
               mengendalikan aktivitas Perusahaan. Seluruh anggota                     company. All members of the Board of Commissioners
               Komisaris dan Direksi dianggap sebagai manajemen                        and the Directors are considered as the Company's
               kunci Perusahaan.                                                       key managament personnel.

               Berdasarkan Surat Keputusan Dewan Komisaris                             Based on the Company's Board of Commissioners'
               Perusahaan No. 0001/SKDK/CBRE/IX/2022 tanggal 8                         Decree No. 0001/SKDK/CBRE/IX/2022 dated
               September 2022 tentang Penunjukan Komite Audit                          September 8, 2022 regarding the appointment of the
               Perusahaan yang berlaku efektif pada tanggal 19                         Company's Audit Committee, which became effective
               September 2022, susunan anggota sebagai berikut:                        on September 19,2022, the composition of its members
                                                                                       is as follows :

                                                 31 Desember 2025/              31 Desember 2024/
                                                 December 31, 2025              December 31, 2024
               Komite Audit                                                                                                 Audit Committees
               Ketua                           H.R. Agung Laksono               Rivolinggo Pamudji                                  Chairman
               Anggota                        Raditia Christine Senjaya       Raditia Christine Senjaya                             Members
               Anggota                            Saka Marlinang                  Saka Marlinang                                    Members
                                                     Nainggolan                      Nainggolan




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Annual and Sustainability Report 2025                                           PT CAKRA BUANA RESOURCES ENERGI Tbk
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PT CAKRA BUANA RESOURCES ENERGI TBK                                             PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                            For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                  (Expressed in Rupiah unless otherwise stated)

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

    b. Dewan komisaris, direksi, komite audit, sekretaris              b. Boards of commisioners, directors, audit
       perusahaan dan karyawan (lanjutan)                                 committee and corporate secretary and employees
                                                                          (continued)

         Berdasarkan Surat Keputusan Dewan Komisaris                       Based on the Company's Board of Commissioners
         Perusahaan No. 0006/SKDD/CBRE/IX/2022 tanggal                     Decree No. 0006/SKDD/CBRE/IX/2022 dated
         16 September 2022 tentang Pengangkatan/Penunjukan                 September 16, 2022 regarding the appointment of the
         Kepala Unit Audit Internal Perusahaan yang berlaku                Head of the Company's Internal Audit Unit, which
         efektif pada tanggal 16 September 2022, menunjuk                  became effective on September 16, 2022, Oktaviana
         Oktaviana Magdalena sebagai Kepala Unit Audit                     Magdalena was appointed as the Head of Company's
         Internal Perusahaan.                                              Internal Audit Unit.


         Jumlah karyawan Perusahaan pada tanggal 31                        The number of employees of the Company as of
         Desember 2025 dan 31 Desember 2024 masing-masing                  December 31, 2025 and December 31, 2024
         sebanyak 13 karyawan dan 10 karyawan.                             (unaudited) was 13 and 10 employees, respectively.

    c.   Penawaran umum perdana saham Perusahaan                       c. Initial Public offering of the Company's shares
         Berdasarkan Keputusan Para Pemegang Saham,                        Based on the resolutions of the Company's
         disetujui penawaran umum perdana saham Perusahaan                 shareholders, the initial public offering of the
         dan dituangkan dalam Akta No. 55 Notaris Dr. Sugih                Company's shares was approved and set forth in
         Haryati, SH., M.Kn, pada tanggal 16 September 2022.               Notarial Deed No. 55 of Dr.Sugih Haryati, S.H., M.Kn,
                                                                           dated September 16, 2022.

         Pada tanggal 20 September 2022, Perusahaan                        On September 20, 2022, the Company submitted Letter
         menyampaikan surat No. 0100/LO-CBRE/JKT/IX/2022                   No. 0100/LO-CBRE/JKT/IX/2022 for the registration of
         untuk pendaftaran Penawaran Umum Perdana Saham                    the Company's Initial Public Offering to the Financial
         Perusahaan kepada Otoritas Jasa Keuangan (OJK).                   Services Authority (Ototitas Jasa Keuangan - OJK).
         Perusahaan memperoleh surat No. S-278/D.04/2022                   The Company received Letter No. S-278/D.04/2022
         tanggal 29 Desember 2022 perihal Pemberitahuan                    dated December 29, 2022 regarding the Notification of
         Efektif Pernyataan Pendaftaran dalam rangka                       Effectiveness of the Registration Statement in relation
         Penawaran Umum Perdana Saham Perusahan dari                       to the Company's Initial Public Offering from the Board
         Dewan Komisioner Otoritas Jasa Keuangan (OJK).                    of Commissioners of the Financial Services Authority
                                                                           (OJK).

         Perusahaan melakukan penawaran umum perdana                       The Company conducted an Initial Public Offering
         saham sebanyak 738.000.000 saham baru dengan nilai                (“IPO”) of 738,000,000 new shares with a par value of
         nominal sebesar Rp25 per saham dan harga perdana                  Rp25 per share and an offering price of Rp108 per
         sebesar Rp108 per saham di Bursa Efek Indonesia                   share on the Indonesia Stock Exchange (“IDX”). In
         (BEI). Serta penerbitan 1.328.400.000 Waran Seri I                addition, the Company issued 1,328,400,000 Series I
         yang diberikan kepada setiap 1 saham baru dengan                  Warrants, granted for every one new share with a par
         nilai nominal sebesar Rp25 dan harga pelaksanaan                  value of Rp25 per share and an exercise price of
         sebesar Rp258 per saham, periode pelaksanaan mulai                Rp258 per share. The exercise period of the Series I
         tanggal 10 Juli 2023 sampai dengan 08 Januari 2025.               Warrants is from July 10, 2023 to January 8, 2025. Any
         Apabila Waran Seri I tidak dilaksanakan sampai habis              Series I Warrants that are not exercised by the end of
         masa berlakunya, maka Waran Seri I tersebut menjadi               the exercise period will expire and become null and
         kadaluarsa, tidak bernilai dan tidak berlaku.                     void. Pursuant to Letter No. Peng-P-00021/BEI-PP1/01-
         Berdasarkan surat No. Peng-P-00021/BEI-PP1/01-2023                2023 dated January 9, 2023 from the IDX, the
         tanggal 9 Januari 2023 dari BEI, bahwa saham                      Company’s shares under stock code CBRE were
         Perusahaan dengan Kode Saham CBRE efektif                         declared effective for trading on January 9, 2023.
         diperdagangkan di BEI pada tanggal 9 Januari 2023.




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214         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                Laporan Tahunan dan Keberlanjutan 2025
Page 217
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

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

           d. Penerbitan laporan keuangan                                              d. Issuance of financial statements
                Laporan keuangan ini telah diotorisasi untuk diterbitkan                   The financial statements have been authorized for
                oleh Direksi Perusahaan, selaku pihak yang                                 issuance by the Director of the Company, as the party
                bertanggung jawab atas penyusunan dan penyelesaian                         who is responsible for the preparation and completion
                laporan keuangan pada tanggal 05 Maret 2026.                               of the financial statements on March 05, 2026.

       2. KEBIJAKAN AKUNTANSI MATERIAL                                              2. MATERIAL ACCOUNTING POLICIES

           a.   Kepatuhan terhadap Standar Akuntansi Keuangan                          a. Compliance with Financial Accounting Standards
                (SAK)                                                                     (FAS)
                Laporan keuangan telah disusun dan disajikan secara                        The financial statements have been prepared and
                wajar sesuai dengan Standar Akuntansi Keuangan di                          presented fairly in accordance with Indonesian
                Indonesia (SAK), yang mencakup Pernyataan Standar                          Financial Accounting Standards (FAS), which comprise
                Akuntansi Keuangan (PSAK) dan Interpretasi Standar                         the Statements of Financial Accounting Standards
                Akuntansi Keuangan (ISAK) yang diterbitkan oleh                            (SFAS) and Interpretations to Financial Accounting
                Dewan Standar Akuntansi Keuangan Ikatan Akuntan                            Standards (IFAS) issued by the Financial Accounting
                Indonesia (DSAK-IAI) serta peraturan regulator Pasar                       Standards Board of the Indonesian Accountants
                Modal yang berlaku antara lain Peraturan No. VIII.G.7                      Association (FASB-IAI) and Capital Market regulatory
                tentang penyajian dan pengungkapan laporan keuangan                        provisions including Regulations No. VIII.G.7 regarding
                emiten atau Perusahaan publik. Kebijakan ini telah                         presentation and disclosure of financial statements of
                diterapkan secara konsisten terhadap seluruh tahun                         the issuer or public company. These policies have
                yang disajikan, kecuali jika dinyatakan lain.                              been consistently applied to all year presented, unless
                                                                                           otherwise stated.

           b. Dasar pengukuran             dan    penyusunan        laporan            b. Basis of measurement and preparation of financial
              keuangan                                                                    statements

                Laporan keuangan disusun berdasarkan asumsi                                The financial statements have been prepared on a
                kelangsungan usaha dan biaya perolehan, kecuali untuk                      going concern basis and using the historical cost
                akun tertentu yang diukur berdasarkan pengukuran lain                      convention, except for certain account that are
                sebagaimana diuraikan dalam kebijakan akuntansi                            measured using other measurement bases, as
                terkait.                                                                   disclosed in the relevant accounting policies.

                Laporan arus kas disusun dengan menggunakan                                The statements of cash flows are prepared using the
                metode langsung dengan mengelompokkan arus kas                             direct method by classifying cash flows into operating,
                dalam aktivitas operasi, investasi dan pendanaan.                          investing and financing activities.

                Dasar pengukuran dalam penyusunan laporan                                  The measurement bases applied In the preparation of
                keuangan ini adalah konsep biaya perolehan (historical                     these financial statements are the historical cost
                cost ), biaya perolehan kini (current cost ), nilai realisasi              concept, current cost, net realizable value, and fair
                neto (net realizable value), Nilai Wajar (fair value ),                    value, except for certain account which are measured
                kecuali untuk beberapa akun tertentu yang didasarkan                       using other measurement bases as disclosed in the
                pengukuran lain sebagaimana yang diungkapkan pada                          respective accounting policies of those accounts.
                kebijakan akuntansi dalam masing-masing akun
                tersebut.




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Annual and Sustainability Report 2025                                                 PT CAKRA BUANA RESOURCES ENERGI Tbk
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PT CAKRA BUANA RESOURCES ENERGI TBK                                                PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                               For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                     (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                             2. MATERIAL ACCOUNTING POLICIES (continued)

    b. Dasar pengukuran          dan    penyusunan      laporan           b. Basis of measurement and preparation of financial
       keuangan (lanjutan)                                                   statements (continued)

         Penyusunan laporan keuangan sesuai dengan SAK di                     The preparation of financial statements in conformity
         Indonesia mengharuskan manajemen untuk membuat                       with Indonesia Financial Accounting Standards
         pertimbangan, estimasi dan asumsi yang memengaruhi                   requires management to make judgements, estimates,
         penerapan kebijakan akuntansi dan jumlah aset,                       and assumptions that affect the application of
         liabilitas, pendapatan dan beban yang dilaporkan.                    accounting policies and the reported amounts of
         Walaupun estimasi ini dibuat berdasarkan pengetahuan                 assets, liabilities, income, and expenses. Although
         terbaik manajemen dan pertimbangan atas kejadian dan                 these estimates are based on management's best
         tindakan saat ini, hasil yang sebenarnya mungkin                     knowledge of current events and actions, actual results
         berbeda dari jumlah yang diestimasi. Hal-hal yang                    may differ from those estimates. Matters involving a
         melibatkan pertimbangan atau kompleksitas yang lebih                 higher degree of judgment or complexity, or areas
         tinggi atau hal-hal dimana asumsi dan estimasi adalah                where assumptions and estimates are significant to the
         signifikan terhadap laporan keuangan diungkapkan                     financial statements, are disclosed in Note 3 to the
         dalam Catatan 3 atas laporan keuangan.                               financial statements.

         Laporan keuangan disajikan dalam Rupiah yang                         The financial statement are presented in Rupiah, which
         merupakan mata uang fungsional Perusahaan.                           is the functional currency of the company.

    c.   Perubahan pada Pernyataan Standar Akuntansi                      c. Changes to Statements of Financial Accounting
         Keuangan (“PSAK”) dan Interpretasi Pernyataan                       Standards (“SFAS”) and Interpretations of
         Standar Akuntansi Keuangan (“ISAK”)                                 Statements of Financial Accounting Standards
                                                                             (“IFAS”)
         Dewan Standar Akuntansi Keuangan Ikatan Akuntan                      The Financial Accounting Standards Board of the
         Indonesia (DSAK-IAI) telah menerbitkan amandemen                     Indonesian Accountants Association (FASB-IAA) has
         dan interpretasi yang berlaku efektif mulai 1 Januari                issued amendments and interpretations which are
         2025 sebagai berikut:                                                effective starting January 1, 2025 as follows:
         - PSAK 117: “Kontrak Asuransi”;                                      - SFAS 117: "Insurance Contracts";
         - Amendemen PSAK 117: “Kontrak Asuransi” terkait                     - Amendment to SFAS 117: “Insurance Contracts”
           Penerapan Awal PSAK 117 dan dan PSAK 109 -                           related to the Initial Application of SFAS 117 and
           Informasi Komparatif; dan                                            SFAS 109 - Comparative Information; and
         - Amendemen PSAK 221: “Pengaruh Perubahan Kurs                       - Amendment to SFAS 117: “The Effect of Changes in
           Valuta Asing” terkait kondisi ketika suatu mata uang                 Foreign Exchange Rates” relates to conditions when
           tidak tertukarkan.                                                   a currency is not convertible.

         Standar tersebut akan berlaku efektif pada 1 Januari                 The standards will become effective on January 1,
         2025                                                                 2025.

         Penerapan dari amandemen dan interpretasi di atas                    The implementation of the amendments and
         tidak menimbulkan perubahan substansial atas                         interpretations above does not result in substantial
         kebijakan akuntansi Perusahaan dan tidak memiliki                    changes to the Company's accounting policies and
         dampak signifikan terhadap Laporan Keuangan pada                     does not have a significant impact on the Financial
         tahun berjalan atau tahun sebelumnya.                                Statements for the current or previous year.

    d. Transaksi dengan pihak-pihak berelasi                              d. Transactions with related parties
         Perusahaan memiliki transaksi dengan pihak berelasi                  The company has transactions with related parties as
         sebagaimana yang didefinisikan dalam PSAK No. 224,                   defined in PSAK No. 224, “Disclosure of Related
         “Pengungkapan Pihak-Pihak Berelasi”. Pihak-pihak                     Parties.” Related parties are persons or entities related
         berelasi adalah orang atau entitas yang terkait dengan               to the Company that prepares its financial statements,
         Perusahaan yang menyiapkan laporan keuangannya,                      namely:
         yaitu:




                                                                  10




216         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                    Laporan Tahunan dan Keberlanjutan 2025
Page 219
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                 2. MATERIAL ACCOUNTING POLICIES (continued)

           d. Transaksi dengan pihak-pihak berelasi (lanjutan)                       d. Transactions with related parties (continued)
                (a).   Orang atau anggota keluarga terdekat                              (a)     A person or a close member of that person's
                       mempunyai relasi dengan Perusahaan jika orang                             family is related to the reporting entity if that
                       tersebut:                                                                 person:
                       i.    memiliki pengendalian atau pengendalian                             i.      has control or joint control over the
                             bersama atas Perusahaan;                                                    reporting entity;
                       ii    memiliki     pengaruh     signifikan atas                           ii.     has significant influence over the reporting
                        .    Perusahaan; atau                                                            entity; or
                       iii   personil manajemen kunci Perusahaan atau                            iii     is a member of the key management
                        .    entitas induk Perusahaan.                                            .      personnel of the reporting entity or of a
                                                                                                         parent of the reporting entity.

                (b).   Orang atau anggota keluarga terdekat                              (b)     A person or a close member of that person's
                       mempunyai relasi dengan Perusahaan jika orang                             family is related to the reporting entity if that
                       tersebut:                                                                 person:
                       i.    entitas dan entitas pelapor adalah anggota                          i.      the entity and the reporting entity are
                             dari kelompok usaha yang sama (artinya                                      members of the same gr (which means
                             entitas induk, entitas anak, dan entitas anak                               that each parent, subsidiary and fellow
                             berikutnya saling berelasi dengan entitas                                   subsidiary is related to the others)
                             lainnya).
                       ii   satu entitas adalah entitas asosiasi atau                            ii.     one entity is an associate or joint venture
                       .    ventura bersama dari entitas lain (atau                                      of the other entity (or an associate or joint
                            entitas asosiasi atau ventura bersama yang                                   venture of a member of a group of which
                            merupakan anggota suatu kelompok usaha,                                      the other entity is a member).
                            yang mana entitas lain tersebut adalah
                            anggotanya).
                       iii. kedua entitas tersebut adalah ventura                                iii.    both entities are joint ventures of the same
                            bersama dari pihak ketiga yang sama.                                         third party.
                       iv. satu entitas adalah ventura bersama dari                              iv. one entity is a joint venture of a third entity
                           entitas ketiga dan entitas yang lain adalah                               and the other entity is an associate of the
                           entitas asosiasi dari entitas ketiga.                                     third entity.
                       v. entitas tersebut adalah suatu program                                  v.      the entity is a post-employment defined
                          imbalan pasca kerja untuk imbalan kerja dari                                   benefit plan for the benefit of employees of
                          salah satu entitas pelapor atau entitas yang                                   either the reporting entity or an entity
                          terkait dengan entitas pelapor.                                                related to the reporting entity.
                       vi. entitas yang dikendalikan atau dikendalikan                           vi. the entity is controlled or jointly controlled
                           bersama oleh orang yang diidentifikasi                                    by a person identified in (a).
                           dalam huruf (a).
                       vii. orang yang diidentifikasi dalam huruf (a) (1)                        vii. a person identified in (a) (1) has significant
                            memiliki pengaruh signifikan atas entitas                                 influence over the entity or is a member of
                            atau personil manajemen kunci entitas (atau                               the key management personnel of the
                            entitas induk dari entitas).                                              entity (or a parent of the entity).
                       viii. entitas, atau anggota dari kelompok yang                            viii. the entity, or any member of a group of
                             mana entitas merupakan bagian dari                                        which it is a part, provides key
                             kelompok tersebut, menyediakan jasa                                       management personnel services to the
                             personil manajemen kunci kepada entitas                                   reporting entity or to the parent of the
                             pelapor atau kepada entitas induk dari                                    reporting entity.
                             entitas pelapor.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                              2. MATERIAL ACCOUNTING POLICIES (continued)

    d. Transaksi dengan pihak-pihak berelasi (lanjutan)                     d. Transactions with related parties (continued)
         Transaksi signifikan yang dilakukan dengan pihak-pihak                  Significant transactions with related parties, whether or
         berelasi, baik dilakukan dengan kondisi dan persyaratan                 not made at similar terms and conditions as those done
         yang sama dengan pihak ketiga maupun tidak,                             with third parties, are dislosed in the financial
         diungkapkan pada laporan keuangan.                                      statements

    e.   Transaksi dan saldo dalam mata uang asing                          e. Foreign currency transactions and balances
         Kurs valuta asing Perusahaan disajikan dan                              The Company's foreign exchange rates have been
         diungkapkan sesuai dengan Amandemen PSAK 221                            presented and disclosed in accordance with
         "Pengaruh perubahan kurs valuta asing".                                 Amendments to SFAS 221 "The effect of change in
                                                                                 foreign exchange rate".
         Transaksi dalam mata uang asing dicatat dalam Rupiah                    Transactions involving foreign currencies are recorded
         dengan menggunakan kurs yang berlaku pada tanggal                       in Rupiah at the rates of exchanges prevailing at the
         transaksi. Pada tanggal pelaporan keuangan, aset dan                    time the transactions are made. At the financial
         liabilitas moneter dalam mata uang asing dijabarkan                     reporting dates, monetary assets and liabilities
         sesuai dengan rata-rata kurs jual dan beli yang                         denominated in foreign currencies are adjusted to
         diterbitkan oleh Bank Indonesia pada tanggal transaksi                  reflect the average of the selling and buying rates of
         perbankan terakhir untuk tahun yang bersangkutan, dan                   exchanges prevailing at the last banking transactions
         laba atau rugi kurs yang timbul, dikreditkan atau                       date of the years, as published by Bank Indonesia, and
         dibebankan pada laporan laba rugi komprehensif                          any resulting gains or losses are credited or charged to
         periode berjalan.                                                       the current period statements of comprehensive
                                                                                 income.

         Transaksi-transaksi non moneter dalam mata uang                         Non-monetary item that are measured in terms of
         asing yang diukur dengan metode biaya historis                          historical cost in a foreign currency are translated using
         dijabarkan menggunakan kurs pada tanggal terjadinya                     the exchanges rates as at the dates of the initial
         transaksi. Transaksi-transaksi non moneter dalam mata                   transactions. Non monetary items measured at fair
         uang asing yang diukur pada nilai wajar dijabarkan                      value in a foreign currency are translated using the
         menggunakan kurs pada tanggal penentuan nilai wajar                     exchanges rates at the date when the fair value is
         tersebut.                                                               determined.

         Keuntungan dan kerugian dari selisih kurs yang timbul                   Exchanges gains and losses arising on foreign
         dari transaksi dalam mata uang asing dan penjabaran                     currency transactions and on the translation of foreign
         aset dan liabilitas moneter dalam mata uang asing ke                    currency monetary assets and liabilities into Rupiah are
         mata uang Rupiah dibebankan pada laba rugi periode                      recognized in the current period profit or loss.
         berjalan.

         Pada tanggal 31 Desember 2025 dan 2024 nilai tukar                      The exchanges rates used as of December 31, 2025,
         yang digunakan adalah sebagai berikut:                                  and 2024 were as follows:

                                             31 Desember 2025/          31 Desember 2024/
                                             December 31, 2025          December 31, 2024

         Dollar Amerika Serikat (USD)                     16.782                    16.162                     United States Dollar (USD)

    f.   Instrumen keuangan                                                 f.   Financial instruments
         Instrumen keuangan adalah setiap kontrak yang                           A financial instrument is any contract that gives rise to
         memberikan kenaikan nilai aset keuangan dari satu                       a financial asset of one entity and a financial liability or
         entitas dan liabilitas keuangan atau instrumen ekuitas                  equity instrument of another entity.
         dari entitas lainnya.




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218         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 221
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                2. MATERIAL ACCOUNTING POLICIES (continued)

           f.   Instrumen keuangan (lanjutan)                                       f.   Financial instruments (continued)
                Perusahaan melakukan penerapan PSAK 109, yang                            The Company has applied SFAS 109, which set the
                mensyaratkan pengaturan instrumen keuangan terkait                       requirements in classification and measurement,
                klasifikasi dan pengukuran, penurunan nilai atas                         impairment in value of financial assets and hedging
                instrumen aset keuangan dan akuntansi lindung nilai.                     accounting. thereforee, accounting policies applied for
                Dengan demikian, kebijakan akuntansi yang berlaku                        current reporting period are as follows:
                untuk periode pelaporan kini adalah sebagai berikut:

                Klasifikasi                                                              Classification

                Perusahaan mengklasifikasi aset keuangan menjadi dua                     The Company classifies its financial assets into the
                kategori berikut:                                                        following categories:
                a. Aset keuangan yang diukur dengan biaya                                a. Financial assets measured at amortized cost.
                    perolehan diamortisasi.
                b. Aset keuangan yang diukur dengan melalui laba                         b. Financial assets measured at fair value through
                    rugi (FVTPL).                                                           profit or loss (FVTPL).
                c. Aset keuangan yang diukur dengan nilai wajar                          c. Financial assets measured at fair value through
                    melalui penghasilan komprehensif lain (FVOCI).                          other comprehensive income (FVOCI).

                Semua aset keuangan pada awalnya diakui sebesar                          All financial assets are initially recognized at fair value
                nilai wajarnya ditambah dengan biaya-biaya transaksi,                    plus transaction cost, except for financial assets
                kecuali aset keuangan dicatat pada nilai wajar melalui                   measured at fair value through profit or loss.
                laba rugi .

                Pembelian atau penjualan aset keuangan yang                              Purchases or sales of financial assets that require
                memerlukan penyerahan aset dalam kurun waktu yang                        delivery of the assets within the time frame established
                ditetapkan oleh peraturan atau kebiasaan yang berlaku                    by regulation or market convention (reguler way trades)
                di pasar (perdagangan yang lazim) diakui pada tanggal                    are recognized on the trade date, which is the date on
                perdagangan, yaitu pada tanggal Perusahaan                               which the company commits to purchase or sell the
                berkomitmen untuk membeli atau menjual aset tersebut.                    assets.

                Pada tanggal 31 Desember 2025 dan 2024, Perusahaan                       As of December 31, 2025 and 2024, the company only
                hanya memiliki aset keuangan diklasifikasikan sebagai                    had financial assets classified as financial assets
                aset keuangan yang diukur dengan biaya diamortisasi.                     measured at amortized cost. The company financial
                Aset keuangan Peruahaan meliputi kas dan bank,                           assets consist of cash and bank, account receivable
                piutang usaha, deposit sewa, dan piutang lain-lain                       from shipping services, rental deposits, and other
                (instrumen keuangan yang memiliki dan tidak memiliki                     receivables (financial instruments with and without
                kuotasi harga). Aset keuangan diklasifikasikan sebagai                   quoted prices). Financial assets are classified as
                aset lancar, jika jatuh tempo dalam waktu 12 bulan, jika                 current assets if they are expected to be realized within
                tidak maka aset keuangan ini diklasifikasikan sebagai                    12 months, otherwise, they are classified as non-
                aset tidak lancar.                                                       current assets.

                Aset keuangan yang diukur dengan biaya diamortisasi                      Financial assets measured at amortized cost are
                selanjutnya diukur dengan menggunakan metode suku                        subsequently measured using the effective interest rate
                bunga efektif (Effective Interest Rate ) (“EIR”), setelah                ("EIR") method, net of impairment. Amortized cost is
                dikurangi dengan penurunan nilai. Biaya perolehan yang                   calculated by taking into account any discount or
                diamortisasi dihitung dengan memperhitungkan diskonto                    premium on acquisition costs or fees that are an
                atau premi atas biaya akuisisi atau biaya yang                           integral part of the EIR.The EIR amortization is
                merupakan bagian integral dari EIR tersebut. Amortisasi                  recognized in profit or loss. Losses arising from
                EIR dicatat dalam laba rugi. Kerugian yang timbul dari                   impairment are also recognized in profit or loss.
                penurunan nilai juga diakui pada laba rugi .




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Page 222
PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                 2. MATERIAL ACCOUNTING POLICIES (continued)

    f.   Instrumen keuangan (lanjutan)                                        f.   Financial instruments (continued)

         Aset keuangan dihentikan pengakuannya ketika hak                          Financial assets are derecognized when the
         untuk menerima arus kas dari aset tersebut telah                          contractual rights to receive cash flows from the assets
         berakhir atau telah ditransfer dan Perusahaan telah                       have expired, or when such right have been transferred
         secara substansial mentransfer seluruh risiko dan                         and the company has substantially transferred all the
         manfaat kepemilikannya.                                                   risks and rewards of ownership of the financial assets
                                                                                   to another party.

         Liabilitas keuangan                                                       Financial liabilities
         Liabilitas keuangan dalam lingkup PSAK No. 109                            Financial liabilities within the scope of PSAK No. 109
         diklasifikasikan sebagai berikut:                                         are classified as follows :

         - Liabilitas keuangan yang diukur dengan biaya                            - Financial liabilities measured at amortised cost; and
           diamoritsasi; dan

         - Liabilitas keuangan yang diukur dengan nilai wajar                      - Financial liabilities measured at fair value through
           melalui laba rugi.                                                        profit or loss.

         Perusahaan menentukan klasifikasi liabilitas keuangan                     The Company determines the classification of its
         mereka pada saat pengakuan awal.                                          financial liabilities at initial recognition.

         Seluruh liabilitas keuangan diakui pada awalnya                           All financial liabilities are initially recognized at fair
         sebesar nilai wajar dan, dalam hal pinjaman dan utang,                    value and, in the case of loans and borrowings, include
         termasuk biaya transaksi yang dapat diatribusikan                         directly attributable transaction costs.
         secara langsung.

         Pada tanggal 31 Desember 2025 dan 2024, Perusahaan                        As of December 31,2025 and 2024, the company only
         hanya memiliki liabilitas keuangan yang diukur dengan                     has financial liabilities measured at amortized cost. The
         biaya perolehan diamortisasi. Liabilitas keuangan                         company's financial liabilities consist of account
         Perusahaan meliputi utang usaha, utang lain - lain,                       payables, other payables, security deposits, accruals
         utang jaminan, akrual dan liabilitas sewa. Liabilitas                     and lease liabilities. Financial liabilities are classified as
         keuangan diklasifikasikan sebagai liabilitas jangka                       non-current liabilities when they have maturities of
         panjang jika jatuh tempo melebihi 12 bulan dan sebagai                    more than 12 months, and as current liabilities when
         liabilitas jangka pendek jika jatuh tempo yang tersisa                    the remaining maturities are less than 12 months.
         kurang dari 12 bulan.

         Liabilitas keuangan dihentikan pengakuannya pada saat                     A financial liability is derecognised when the obligation
         liabilitas tersebut berakhir atau dibatalkan atau                         is extinguished, that is, when the obligation is
         kedaluwarsa.                                                              discharged, cancelled, or expires.

         Dalam hal suatu liabilitas keuangan yang ada digantikan                   In the event that an existing financial liability is replaced
         oleh liabilitas keuangan lain dari pemberi pinjaman yang                  by another financial liability from the same lender on
         sama dengan persyaratan yang berbeda secara                               substantially different terms, or when there is a
         substansial, atau modifikasi secara substansial atas                      substantial modification of the terms of an existing
         persyaratan dari suatu liabilitas yang ada, pertukaran                    financial liabillity, such an exchange or modification is
         atau modifikasi tersebut diperlakukan sebagai                             accounted for as a derecognition of the original
         penghentian pengakuan liabilitas awal dan pengakuan                       financial liability and the recognition of a new financial
         liabilitas baru, dan selisih antara nilai tercatat masing-                liability. The difference between the carrying amounts
         masing liabilitas diakui dalam laba rugi.                                 of the respective financiak liabilities is recognised in
                                                                                   profit or loss.




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220         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                            Laporan Tahunan dan Keberlanjutan 2025
Page 223
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                               2. MATERIAL ACCOUNTING POLICIES (continued)

           f.   Instrumen keuangan (lanjutan)                                      f.   Financial instruments (continued)

                Liabilitas keuangan (lanjutan)                                          Financial liabilities (continued)

                Saling hapus antar instrumen keuangan                                   Offsetting financial instruments

                Aset dan liabilitas keuangan disalinghapuskan dan nilai                 Financial assets and liabilities are offset and the net
                netonya disajikan dalam laporan posisi keuangan, jika                   value is presented in the statements of financial
                dan hanya jika, Perusahaan 1) saat ini memiliki hak                     position when, and only when, the Company 1)
                yang dapat dipaksakan secara hukum untuk melakukan                      currently has a legally enforceable right to offset the
                saling hapus atas jumlah yang telah diakui dan 2)                       recognized amounts and 2) intends either to settle on a
                berintensi untuk menyelesaikan secara neto atau untuk                   net basis or to realize the asset and settle liability
                merealisasikan aset dan menyelesaikan liabilitasnya                     simultaneously.
                secara simultan.

                Perusahaan menerapkan model kerugian kredit                             The company applies the expected credit loss ('ECL")
                ekspektasian (“ECL”) untuk pengukuran dan pengakuan                     model for the measurement and recognition of
                kerugian penurunan nilai.                                               impairment losses.

                Pada setiap periode pelaporan, Perusahaan menilai                       At each reporting date, the company assesses whether
                apakah risiko kredit dari instrumen keuangan telah                      the credit risk of a financial instrument has increased
                meningkat secara signifikan sejak pengakuan awal.                       significantly since intial recognition. In making this
                Ketika melakukan penilaian, Perusahaan menggunakan                      assessment, the company considers changes in the
                perubahan atas risiko gagal bayar yang terjadi                          risk of default occurring over the expected life of the
                sepanjang perkiraan usia instrumen keuangan daripada                    financial instrument, rather than changes in the amount
                perubahan atas jumlah kerugian kredit ekspektasian.                     of expected credit losses.


                Dalam        melakukan        penilaian,    Perusahaan                  In performing the assessment, the Company compares
                membandingkan antara risiko gagal bayar yang terjadi                    the risk of default of the financial instruments at the
                atas instrumen keuangan pada saat periode pelaporan                     reporting date with the risk of default at initial
                dengan risiko gagal bayar yang terjadi atas instrumen                   recognition and considers reasonable and supportable
                keuangan pada saat pengakuan awal dan                                   information that is available without undue cost or effort
                mempertimbangkan kewajaran serta ketersediaan                           at the reporting date, including information on past
                informasi, yang tersedia tanpa biaya atau usaha pada                    events, current conditions, and forecasts of future
                saat tanggal pelaporan terkait dengan kejadian masa                     economic conditions, that indicate a significant
                lalu, kondisi terkini dan perkiraan atas kondisi ekonomi                increase in credit risk since initial recognition.
                di masa depan, yang mengindikasikan kenaikan risiko
                kredit sejak pengakuan awal.

                Perusahaan menerapkan metode yang disederhanakan                        The company applies the simplified approach to
                untuk mengukur kerugian kredit ekspektasian tersebut                    measure expected credit losses on account
                terhadap piutang usaha dan lain-lain tanpa komponen                     receivables and other receivables that do not have a
                pendanaan yang signifikan.                                              significant financing component.




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Annual and Sustainability Report 2025                                             PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                           221
Page 224
PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                              2. MATERIAL ACCOUNTING POLICIES (continued)

    f.   Instrumen keuangan (lanjutan)                                     f.   Financial instruments (continued)

         Liabilitas keuangan (lanjutan)                                         Financial liabilities (continued)

         Pengukuran nilai wajar                                                 Fair value measurement

         Nilai wajar adalah harga yang akan diterima untuk                      Fair value is the price that would be received to sell an
         menjual suatu aset atau harga yang akan dibayar untuk                  asset or paid to transfer a liability in an orderly
         mengalihkan suatu liabilitas dalam transaksi teratur                   transaction between market participants at the
         (orderly transaction ) antara pelaku pasar (market                     measurement date in the pricipal market, or in the
         participants ) pada tanggal pengukuran di pasar utama                  absence of a principal market, the most advantageous
         atau, jika tidak terdapat pasar utama, di pasar yang                   market to which the company has access at that date.
         paling menguntungkan dimana Perusahaan memiliki                        The fair value of a liability reflects its non-performance
         akses pada tanggal tersebut. Nilai wajar liabilitas                    risk.
         mencerminkan risiko wanprestasinya.

         Ketika nilai wajar pada saat pengakuan awal berbeda                    When the fair value at initial recognition differs from the
         dari harga transaksinya, Perusahaan mencatat                           transaction price, the Company records the financial
         berdasarkan nilai wajar hanya apabila nilai wajar                      instrument at fair value only if such fair value is
         tersebut mencerminkan harga kuotasi di pasar aktif dari                evidenced by a quoted price in an active market for an
         aset atau liabilitas yang identik (input level I) atau                 identical asset or liability (Level 1 input) or is
         dihitung berdasarkan teknik penilaian (menggunakan                     determined using a valuation technique (using the
         pendekatan penghasilan, pendekatan pasar atau                          income approach, market approach, or cost approach)
         pendekatan biaya) yang hanya menggunakan data dari                     that uses only observable market data.
         pasar yang dapat diobservasi.

    g. Kas dan setara kas                                                  g. Cash and cash equivalents

         Kas dan setara kas terdiri atas kas dan bank dan                       Cash and cash equivalents consist of cash on hand,
         deposito berjangka sejak saat penempatan dan tidak                     cash in banks, and time deposits with original
         dibatasi          penggunaannya.          Perusahaan                   maturities of three months or less at the time of
         mengklasifikasikan kas yang dibatasi penggunaannya                     placement, which are not used as collateral and are not
         sebagai aset lancar atau tidak lancar bergantung pada                  restricted in use.
         sifat dan jangka waktu pembatasannya.

    h. Piutang usaha dan piutang lain-lain                                 h. Account receivables and other receivables

         Piutang usaha dan piutang lain-lain pada awalnya diakui                Account receivables and other receivables are initially
         sebesar nilai wajar dan selanjutnya diukur pada biaya                  recognised at fair value and subsequently measured at
         perolehan diamortisasi dengan menggunakan metode                       amortised cost using the effective interest method,
         suku bunga efektif, kecuali jika efek diskontonya tidak                except where the effect of discounting is immaterial,
         material, setelah dikurangi penyisihan penurunan nilai                 less an allowance for impairment which is measured
         yang diukur berdasarkan kerugian kredit ekspektasian                   based on expected credit losses by assessing the
         dengan menelaah kolektibilitas saldo piutang secara                    collectibility of receivable balances on an individual or
         individual atau kolektif dan mempertimbangkan                          collective basis and considering relevant forward-
         informasi makro ekonomi yang berorientasi ke masa                      looking macroeconomic information, performed at each
         depan dan relevan yang dilakukan pada setiap akhir                     reporting date. The allowance for impairment is written
         periode pelaporan. Penyisihan penurunan nilai                          off when the receivable is assessed to be uncollectible.
         dihapuskan pada saat piutang tersebut dipastikan tidak                 Recoveries of amounts previously written off are
         tertagih. Pemulihan dari jumlah yang disisihkan                        credited to the same account.
         sebelumnya dikreditkan ke akun yang sama.




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222         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                       Laporan Tahunan dan Keberlanjutan 2025
Page 225
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                               2. MATERIAL ACCOUNTING POLICIES (continued)

           i.   Biaya dibayar dimuka                                               i.   Prepaid expenses

                Biaya dibayar dimuka, diamortisasi selama masa                          Prepaid expenses, are amortized over their beneficial
                manfaat masing-masing biaya dengan menggunakan                          periods using the straight-line method.
                metode garis lurus.

           j.   Aset tetap                                                         j.   Fixed assets

                Perusahaan menerapkan PSAK No. 216, “Aset Tetap”,                       The Company applies PSAK No. 216, “Property, Plant
                yang berdampak pada pengakuan aset, penentuan                           and Equipment”. This standard affects the recognition
                jumlah tercatat dan biaya penyusutan dan kerugian atas                  of property, plant and equipment, the determination of
                penurunan nilai harus diakui dalam kaitannya dengan                     their carrying amounts, as well as the recognition of
                aset tersebut.                                                          depreciation expenses and impairment losses related
                                                                                        to such assets.

                Manajemen Perusahaan memilih model biaya (cost                          The Company’s management has elected the cost
                model ) sebagai kebijakan akuntansi pengukuran aset                     model as its accounting policy for the measurement of
                tetap.                                                                  property, plant and equipment.

                Aset tetap dinyatakan sebesar biaya perolehan (kecuali                  Property, plant and equipment are stated at cost
                tanah), dikurangi akumulasi penyusutan dan rugi                         (except for land), less accumulated depreciation and
                penurunan nilai jika ada. Penyusutan dihitung dengan                    impairment losses, if any. Depreciation is calculated
                menggunakan metode garis lurus (straight-line method )                  using the straight-line method over the estimated useful
                selama umur manfaat aset. Taksiran masa manfaat                         lives of the assets. The estimated useful lives are as
                ekonomis sebagai berikut:                                               follows:

                                                    Tahun/Years                 Persentase/Percentage

                Kapal (tongkang / tunda)                   20                           5,0%                                Barges and tugboat
                Kendaraan                                   8                           12,5%                                            Vehicles
                Perabot dan                                                                                                  Office furniture and
                  instalasi bangunan kantor                8                            12,5%                             building installations
                Peralatan kantor                           4                            25,0%                                   Office equipment
                Peralatan kapal                            4                            25,0%                                  Vessel equipment
                Docking                                    5                            20,0%                                        Docking cost

                Pada setiap akhir tahun buku, manajemen mengkaji                        At the end of each financial year, management reviews
                ulang nilai residu, umur manfaat dan metode                             the residual values, useful lives, and depreciation
                penyusutan, dan jika sesuai dengan keadaan,                             methods of property, plant and equipment and, where
                disesuaikan secara prospektif.                                          appropriate, makes prospective adjustments.



                Beban perbaikan dan pemeliharaan dibebankan pada                        Repair and maintenance expenses are charged to the
                laporan laba rugi dan penghasilan komprehensif lain                     statement of profit or loss and other comprehensive
                pada saat terjadinya. Biaya penggantian atau inspeksi                   income as incurred. Significant replacement or
                yang signifikan dikapitalisasi pada saat terjadinya, dan                inspection costs are capitalized when incurred,
                jika besar kemungkinan manfaat ekonomis di masa                         provided that it is probable that future economic
                depan berkenaan dengan aset tersebut akan mengalir                      benefits associated with the asset will flow to the Entity
                ke Entitas, dan biaya perolehan aset dapat diukur                       and the cost of the asset can be measured reliably.
                secara andal.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                              2. MATERIAL ACCOUNTING POLICIES (continued)

    j.   Aset tetap (lanjutan)                                             j.   Fixed assets (continued)

         Aset dalam pembangunan disajikan dalam “Aset Tetap”                    Assets under construction are presented within
         dan dinyatakan sebesar biaya perolehan. Akumulasi                      “Property, Plant and Equipment” and carried at cost.
         biaya perolehan untuk aset dalam pembangunan akan                      The accumulated costs related to assets under
         dipindahkan ke masing-masing aset tetap yang                           construction are transferred to the relevant property,
         bersangkutan pada saat aset tersebut selesai dikerjakan                plant and equipment upon completion and when the
         dan siap digunakan sesuai dengan tujuannya.                            assets are ready for their intended use.


         Jumlah tercatat aset tetap dihentikan pengakuannya                     The carrying amount of property, plant and equipment
         pada saat dilepaskan atau ketika tidak ada manfaat                     is derecognized upon disposal or when no future
         ekonomis masa depan yang diharapkan dari                               economic benefits are expected from its use or
         penggunaan atau pelepasannya. Keuntungan dan                           disposal. Gains and losses arising from the
         kerugian yang timbul dari penghentian pengakuan aset                   derecognition of the asset, determined as the
         (dihitung sebagai perbedaan antara jumlah neto hasil                   difference between the net disposal proceeds and the
         pelepasan dan jumlah tercatat dari aset) dimasukkan                    carrying amount of the asset, are recognized in the
         dalam laporan laba rugi komprehensif pada tahun aset                   statement of profit or loss and other comprehensive
         tersebut dihentikan pengakuannya.                                      income in the year the asset is derecognized.

    k.   Sewa                                                              k. Lease

         Sebagai penyewa                                                        As a lessee
         Pada insepsi kontrak, Perusahaan menilai apakah                        At contract inception, the Company evaluates whether
         kontrak adalah, atau mengandung, sewa. Suatu kontrak                   a contract is, or contains, a lease. A contract is, or
         adalah atau mengandung sewa jika kontrak tersebut                      contains, a lease if it conveys the right to control the
         memberikan hak untuk mengendalikan penggunaan                          use of an identified asset for a period of time in
         aset yang identifikasian selama suatu jangka waktu                     exchange for consideration.
         untuk dipertukarkan dengan imbalan.

         Untuk menilai apakah kontrak memberikan hak untuk                      To assess whether a contract conveys the right to
         mengendalikan penggunaan aset yang identifikasian,                     control the use of an identified asset, the Company
         Perusahaan menilai apakah:                                             assesses whether:
         - Perusahaan memiliki hak untuk mendapatkan secara                     - The Company has the right to obtain substantially all
           substansial seluruh manfaat ekonomik dari                              of the economic benefits from the use of the
           penggunaan aset identifikasian selama periode                          identified asset throughout the period of use; and
           penggunaan; dan
         - Perusahaan memiliki hak untuk mengarahkan                            - The Company has the right to direct the use of the
           penggunaan aset identifikasian. Perusahaan memiliki                    identified asset. The Company has this right when it
           hak ini ketika Perusahaan memiliki hak pengambilan                     has the decision-making rights that are most relevant
           keputusan yang paling relevan untuk mengubah cara                      to changing how and for what purpose the asset is
           dan tujuan penggunaan aset telah ditentukan                            used, and those decisions are predetermined, when:
           sebelumnya:
           a.   Perusahaan memiliki hak untuk mengoperasikan                      a.     The Company has the right to operate the
                aset identifikasian;                                                     identified asset;
           b.   Perusahaan telah mendesain aset identifikasian                    b.     The Company has designed the identified asset
                dengan cara yang telah ditentukan sebelumnya                             in a way that predetermines how and for what
                bagaimana dan untuk tujuan apa aset itu akan                             purpose the asset will be used.
                digunakan.




                                                                   18




224         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 227
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                 2. MATERIAL ACCOUNTING POLICIES (continued)

           k.   Sewa (lanjutan)                                                      k. Lease (continued)

                Sebagai penyewa (lanjutan)                                               As a lessee (continued)

                Pada insepsi atau penilaian kembali kontrak yang berisi                  At the inception or reassessment of a contract that
                komponen sewa, Perusahaan mengalokasikan imbalan                         contains a lease component, the Company allocates
                dalam kontrak untuk setiap komponen sewa atas dasar                      the consideration in the contract to each lease
                harga tersendiri relatif dan harga tersendiri agregat dari               component on the basis of the relative stand-alone
                komponen nonsewa.                                                        prices and the aggregate stand-alone prices of the non-
                                                                                         lease components.

                Pada saat permulaan sewa, penyewa mengakui aset                          At the commencement date of the lease, the lessee
                hak-guna. Aset hak-guna awalnya diukur pada harga                        recognizes a right-of-use asset. The right-of-use asset
                perolehan, yang terdiri dari jumlah awal liabilitas sewa                 is initially measured at cost, which comprises the initial
                yang disesuaikan dengan pembayaran sewa yang                             amount of the lease liability, adjusted for any lease
                dilakukan pada atau sebelum tanggal permulaan,                           payments made at or before the commencement date,
                ditambah biaya langsung awal yang timbul dan estimasi                    plus any initial direct costs incurred and an estimate of
                biaya untuk membongkar dan memindahkan aset                              the costs to be incurred in dismantling and removing
                pendasar atau merestorasi aset pendasar ke kondisi                       the underlying asset or restoring the underlying asset
                yang disyaratkan oleh syarat dan ketentuan sewa,                         to the condition required by the terms and conditions of
                dikurangi insentif sewa yang diterima.                                   the lease, less any lease incentives received.

                Setelah tanggal permulaan, Perusahaan mengukur aset                      After the commencement date, the Company measures
                hak-guna dengan menggunakan model biaya yang                             the right-of-use asset using the cost model, consistent
                berkaitan aset tetap.                                                    with the measurement of property, plant and
                                                                                         equipment.

                Berdasarkan model biaya, aset hak-guna diukur pada                       Under the cost model, right-of-use assets are
                biaya perolehan dikurangi akumulasi penyusutan dan                       measured at cost less accumulated depreciation and
                akumulasi penurunan nilai. Jika sewa mengalihkan                         accumulated impairment losses. If the lease transfers
                kepemilikan aset pendasar kepada Perusahaan pada                         ownership of the underlying asset to the Company at
                akhir masa sewa atau jika biaya perolehan aset hak-                      the end of the lease term or if the cost of the right-of-
                guna mencerminkan bahwa penyewa akan                                     use asset reflects that the lessee will exercise a
                mengeksekusi opsi beli, Perusahaan mendepresiasi hak-                    purchase option, the Company depreciates the right-of-
                guna sejak tanggal permulaan hingga akhir umur                           use asset from the commencement date to the end of
                manfaat aset pendasar. Jika tidak, Perusahaan                            the useful life of the underlying asset. Otherwise, the
                mendepresiasi aset hak-guna dari tanggal permulaan                       Company depreciates the right-of-use asset from the
                hingga tanggal yang lebih awal antara akhir umur                         commencement date to the earlier of the end of the
                manfaat aset hak-guna atau akhir masa sewa.                              useful life of the right-of-use asset or the end of the
                                                                                         lease term.

                Sewa Jangka-Pendek                                                       Short-term leases
                Perusahaan memutuskan untuk tidak mengakui aset                          The Company has elected not to recognize right-of-use
                hak-guna dan liabilitas sewa untuk sewa jangka pendek                    assets and lease liabilities for short-term leases with a
                yang memiliki masa sewa 12 bulan atau kurang.                            lease term of 12 months or less. The Company
                Perusahaan mengakui pembayaran sewa atas sewa                            recognizes lease payments for such leases as an
                tersebut sebagai beban dengan dasar garis lurus                          expense on a straight-line basis over the lease term.
                selama masa sewa.




                                                                             19




Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                            225
Page 228
PT CAKRA BUANA RESOURCES ENERGI TBK                                                PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                               For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                             2. MATERIAL ACCOUNTING POLICIES (continued)

    k.   Sewa (lanjutan)                                                  k. Lease (continued)

         Sebagai penyewa (lanjutan)                                           As a lessee (continued)

         Perusahaan sebagai Pesewa                                            The Company as a Lessor
         Ketika Perusahaan bertindak sebagai pesewa, maka                     When the Company acts as a lessor, it classifies each
         setiap sewa diklasifikasikan sebagai sewa operasi atau               lease as either an operating lease or a finance lease.
         sewa pembiayaan.

         Sewa diklasifikasikan sebagai sewa pembiayaan jika                   Leases are classified as finance leases when they
         sewa mengalihkan secara substansial semua risiko dan                 transfer substantially all the risks and rewards
         manfaat yang terkait dengan kepemilikan aset                         incidental to ownership of the underlying asset;
         pendasar. Jika tidak, sewa diklasifikasikan sebagai                  otherwise, they are classified as operating leases.
         sewa operasi.

         Sebagai bagian dari penilaian ini, Perusahaan                        As part of this assessment, the Company considers
         mempertimbangkan indikator-indikator tertentu seperti:               certain indicators, such as:
         a.   Sewa mengalihkan kepemilikan aset pendasar                      a. The lease transfers ownership of the underlying
              kepada penyewa pada akhir masa sewa;                               asset to the lessee by the end of the lease term;
         b.   Penyewa memiliki opsi untuk membeli aset                        b. The lessee has an option to purchase the
              pendasar dengan harga yang diperkirakan cukup                      underlying asset at a price that is expected to be
              lebih rendah dari nilai wajar pada tanggal opsi                    sufficiently lower than the fair value at the date the
              tersebut dapat dieksekusi sehingga menjadi cukup                   option becomes exercisable, such that, at the
              pasti, pada tanggal insepsi, bahwa opsi tersebut                   inception date, it is reasonably certain that the
              akan dieksekusi;                                                   option will be exercised;
         c.   Masa sewa adalah untuk sebagian besar umur                      c. The lease term is for the major part of the
              ekonomik aset pendasar meskipun hak milik tidak                    economic life of the underlying asset, even if title is
              dialihkan;                                                         not transferred;
         d.   Pada tanggal insepsi, nilai kini dari pembayaran                d. At the inception date, the present value of the
              sewa setidaknya mencakup secara substansial                        lease payments amounts to at least substantially
              seluruh nilai wajar aset pendasar;                                 all of the fair value of the underlying asset;
         e.   Aset pendasar bersifat khusus sehingga hanya                    e. The underlying asset is of such a specialized
              penyewa yang dapat menggunakannya tanpa                            nature that only the lessee can use it without major
              modifikasi signifikan.                                             modifications.
         Pada permulaan sewa, Perusahaan mengakui aset                        At the commencement of the lease, the Company
         yang dimiliki dalam sewa pembiayaan sebagai piutang                  recognizes assets held under a finance lease as a
         pada jumlah yang sama dengan investasi neto sewa.                    receivable at an amount equal to the net investment in
                                                                              the lease.

         Investasi neto sewa adalah investasi sewa bruto yang                 The net investment in the lease is the gross investment
         didiskontokan pada tingkat bunga implisit dalam sewa.                in the lease discounted at the interest rate implicit in the
         Investasi bruto dalam sewa adalah jumlah dari:                       lease. The gross investment in the lease is the
                                                                              aggregate of:
         1.   Piutang pembayaran sewa oleh Perusahaan dalam                   1. The lease payments receivable by the Company
              sewa pembiayaan; dan                                               under a finance lease; and
         2.   Nilai residual yang tidak dijamin yang diperoleh                2. The unguaranteed residual value accruing to the
              Perusahaan. Nilai residual yang tidak dijamin                      Company, being the portion of the residual value of
              adalah bagian dari nilai residual aset pendasar                    the underlying asset whose realization is not
              yang realisasinya oleh Perusahaan tidak diyakini                   assured or guaranteed solely by a party related to
              atau dijamin hanya oleh satu pihak yang terkait                    the Company.
              dengan Perusahaan.




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226           PT CAKRA BUANA RESOURCES ENERGI Tbk                                                   Laporan Tahunan dan Keberlanjutan 2025
Page 229
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                2. MATERIAL ACCOUNTING POLICIES (continued)

           k.   Sewa (lanjutan)                                                     k. Lease (continued)

                Perusahaan sebagai Pesewa (lanjutan)                                     The Company as a Lessor (continued)

                Perusahaan mengakui pendapatan keuangan selama                           The Company recognizes finance income over the
                masa sewa dari sewa pembiayaan, berdasarkan pola                         lease term from finance leases, based on a pattern
                yang mencerminkan tingkat pengembalian investasi                         reflecting a constant periodic rate of return on the net
                neto periodik yang konstan. Hal ini dicapai dengan                       investment in the lease. This is achieved by allocating
                mengalokasikan sewa yang diterima (setelah dikurangi                     the lease payments received by the Company (after
                biaya jasa, dan lain-lain) oleh Perusahaan antara                        deducting service costs and other related costs)
                pendapatan keuangan (bunga) kepada Perusahaan dan                        between finance income (interest) and the repayment
                pembayaran kembali saldo debitur (pokok), yaitu                          of the outstanding principal, using the amortized cost
                metode biaya perolehan diamortisasi.                                     method.

                Perusahaan mengakui pembayaran sewa operasi                              The Company recognizes operating lease payments as
                sebagai pendapatan dengan dasar garis lurus atau, jika                   income on a straight-line basis or, if another systematic
                lebih merepresentasikan pola manfaat dari penggunaan                     basis is more representative of the pattern in which
                aset pendasar yang menurun, maka dengan dasar                            benefit from the use of the underlying asset is
                sistematis lain.                                                         diminished, on another systematic basis.


           l.   Utang Usaha                                                         l.   Account Payables

                Utang usaha adalah kewajiban membayar barang atau                        Account payables represent obligations to pay for
                jasa yang telah diterima dalam kegiatan usaha normal                     goods or services that have been received in the
                dari pemasok.                                                            ordinary course of business from suppliers.

                Utang usaha pada awalnya diakui sebesar nilai wajar                      Account payables are initially recognized at fair value
                dan selanjutnya diukur pada biaya perolehan                              and subsequently measured at amortized cost using
                diamortisasi dengan menggunakan metode suku bunga                        the effective interest method. Account and other
                efektif. Utang usaha dan non- usaha diklasifikasikan                     payables are classified as current liabilities if they are
                sebagai liabilitas jangka pendek jika pembayaran jatuh                   due to be settled within one year (or within the normal
                tempo dalam satu tahun atau kurang (atau dalam siklus                    operating cycle of the business if longer). Otherwise,
                operasi normal bisnis jika lebih lama). Jika tidak, utang                such payables are presented as non-current liabilities.
                tersebut disajikan sebagai liabilitas jangka panjang.

           m. Pinjaman                                                              m. Borrowings

                Pada saat pengakuan awal, pinjaman diakui sebesar                        Upon initial recognition, loans are recognized at fair
                nilai wajar, dikurangi dengan biaya-biaya transaksi yang                 value, net of transaction costs incurred. Subsequently,
                terjadi. Selanjutnya, pinjaman diukur sebesar biaya                      loans are measured at amortized cost; the difference
                perolehan diamortisasi; selisih antara penerimaan kas                    between the cash proceeds received (net of
                (dikurangi biaya transaksi) dan nilai pelunasan dicatat                  transaction costs) and the redemption value is
                pada laba rugi selama periode pinjaman dengan                            recognized in profit or loss over the loan period using
                menggunakan metode bunga efektif.                                        the effective interest method.




                                                                            21




Annual and Sustainability Report 2025                                              PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                            227
Page 230
PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                               2. MATERIAL ACCOUNTING POLICIES (continued)

    m. Pinjaman (lanjutan)                                                  m. Borrowings (continued)

        Biaya yang dibayar untuk memperoleh fasilitas pinjaman                  Costs incurred to obtain loan facilities are recognized
        diakui sebagai biaya transaksi pinjaman sepanjang                       as loan transaction costs to the extent that it is
        besar kemungkinan sebagian atau seluruh fasilitas akan                  probable that some or all of the facilities will be drawn
        ditarik. Dalam hal ini, biaya memperoleh pinjaman                       down. In such cases, the costs of obtaining the loan
        ditangguhkan sampai penarikan pinjaman terjadi.                         are deferred until the drawdown occurs. To the extent
        Sepanjang tidak terdapat bukti bahwa besar                              that there is no evidence that it is probable that some or
        kemungkinan sebagian atau seluruh fasilitas akan                        all of the facilities will be drawn down, the costs of
        ditarik, biaya memperoleh pinjaman dikapitalisasi                       obtaining the loan are capitalized as prepaid costs for
        sebagai biaya dibayar dimuka untuk jasa likuiditas dan                  liquidity services and amortized over the period of the
        diamortisasi selama periode fasilitas yang terkait.                     related facilities.

        Biaya pinjaman yang terjadi untuk konstruksi aset                       Borrowing costs that are directly attributable to the
        kualifikasian dikapitalisasi selama periode waktu yang                  acquisition, construction or production of a qualifying
        dibutuhkan untuk menyelesaikan konstruksi aset dan                      asset are capitalized during the period necessary to
        mempersiapkannya sampai dapat digunakan sesuai                          complete the construction of the asset and prepare it
        tujuan yang dimaksudkan atau untuk dijual. Biaya                        for its intended use or sale. Other borrowing costs are
        pinjaman lainnya dibebankan pada laba rugi.                             recognized in profit or loss.

        Pinjaman diklasifikasikan sebagai liabilitas jangka                     Loans are presented as current liabilities unless the
        pendek kecuali Perusahaan memiliki hak tanpa syarat                     Company has an unconditional right to defer settlement
        untuk menunda pembayaran liabilitas selama paling                       of the liabilities for a period of at least 12 months after
        tidak 12 bulan setelah tanggal pelaporan.                               the reporting date, in which case they are classified as
                                                                                non-current liabilities.

    n. Penurunan Nilai Aset Non - keuangan                                  n. Impairment of Non-Financial Assets

        Aset yang diamortisasi ditelaah untuk penurunan nilai                   Amortized assets are reviewed for impairment
        apabila terjadi kondisi atau perubahan yang                             whenever events or changes in circumstances indicate
        mengindikasikan bahwa jumlah tercatat aset tidak dapat                  that the carrying amount of the assets may not be
        diperoleh kembali. Kerugian penurunan nilai diakui                      recoverable. An impairment loss is recognized for the
        sebesar jumlah tercatat aset yang melebihi jumlah                       amount by which the carrying amount of the asset
        terpulihkannya. Jumlah terpulihkan adalah jumlah yang                   exceeds its recoverable amount. The recoverable
        lebih tinggi dari nilai wajar aset dikurangi biaya untuk                amount is the higher of the asset’s fair value less costs
        menjual dan nilai pemakaian. Untuk tujuan pengujian                     of disposal and its value in use. For the purpose of
        penurunan nilai, aset dikelompokkan hingga unit terkecil                impairment testing, assets are grouped at the lowest
        yang menghasilkan arus kas terpisah teridentifikasi (unit               levels for which there are separately identifiable cash
        penghasil kas). Aset non-keuangan yang mengalami                        flows (cash-generating units). Non-financial assets that
        penurunan ditelaah untuk kemungkinan pembalikan dari                    suffer an impairment are reviewed for possible reversal
        penurunan nilai tersebut pada setiap tanggal pelaporan.                 of the impairment at each reporting date.


    o. Provisi dan Kontinjensi                                              o. Provisions and Contingencies

        Provisi diakui apabila Perusahaan memiliki kewajiban                    Provisions are recognized when the Company has a
        hukum atau konstruktif masa kini sebagai akibat                         present legal or constructive obligation as a result of
        peristiwa masa lalu dan terdapat kemungkinan besar                      past events, and it is probable that an outflow of
        penyelesaian kewajiban tersebut mengakibatkan arus                      resources will be required to settle the obligation and a
        keluar sumber daya dan jumlah kewajiban tersebut                        reliable estimate of the amount can be made.
        dapat diestimasi secara andal. Provisi tidak diakui untuk               Provisions are not recognized for future operating
        kerugian operasi masa depan.                                            losses.




                                                                    22




228         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                       Laporan Tahunan dan Keberlanjutan 2025
Page 231
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                  2. MATERIAL ACCOUNTING POLICIES (continued)

           o. Provisi dan Kontinjensi (lanjutan)                                      o. Provisions and Contingencies (continued)

               Provisi diukur sebesar nilai kini dari estimasi terbaik                    Provisions are measured at the present value of
               manajemen atas pengeluaran yang diharapkan                                 management’s best estimate of the expenditures
               diperlukan untuk menyelesaikan kewajiban kini pada                         expected to be required to settle the present obligation
               akhir periode pelaporan. Tingkat diskonto yang                             at the end of the reporting period. The discount rate
               digunakan untuk menentukan nilai kini adalah tingkat                       used to determine the present value is a pre-tax rate
               diskonto sebelum pajak yang mencerminkan penilaian                         that reflects current market assessments of the time
               pasar atas nilai waktu uang dan risiko yang terkait                        value of money and the risks specific to the liability.
               dengan kewajiban. Peningkatan provisi karena                               The increase in the provision due to the passage of
               berjalannya waktu diakui sebagai beban bunga.                              time is recognized as interest expense.

               Aset dan liabilitas kontinjensi tidak diakui dalam laporan                 Contingent assets and contingent liabilities are not
               keuangan. Liabilitas kontinjensi diungkapkan dalam                         recognized in the financial statements. Contingent
               laporan keuangan, kecuali arus keluar sumber daya                          liabilities are disclosed in the financial statements
               yang mengandung manfaat ekonomi kemungkinannya                             unless the possibility of an outflow of resources
               kecil. Aset kontinjensi diungkapkan dalam laporan                          embodying economic benefits is remote. Contingent
               keuangan, jika terdapat kemungkinan besar arus masuk                       assets are disclosed in the financial statements when
               manfaat ekonomis akan diperoleh.                                           an inflow of economic benefits is probable.

           p. Liabilitas imbalan pascakerja                                           p. Post-employment benefits liability

               Sesuai dengan PSAK 219 tentang “Imbalan Kerja”,                            In accordance with PSAK 219, “Employee Benefits”,
               Perusahaan-Perusahaan diwajibkan untuk mengakui                            the Companies are required to recognize all employee
               seluruh imbalan kerja yang diberikan melalui program                       benefits provided through formal or informal plans or
               atau perjanjian formal dan informal, peraturan                             arrangements, laws and regulations, or industry
               perundang - undangan atau peraturan industri, yang                         practices, which include post-employment benefits,
               mencakup imbalan pasca-kerja, imbalan kerja jangka                         short-term employee benefits, other long-term
               pendek dan jangka panjang lainnya, pesangon                                employee benefits, termination benefits, and share-
               pemutusan hubungan kerja dan imbalan berbasis                              based payments.
               ekuitas.

               Berdasarkan PSAK ini, perhitungan liabilitas imbalan                       Based on this PSAK, the calculation of the employee
               kerja karyawan dihitung berdasarkan ketentuan di                           benefits liability is determined in accordance with the
               dalam Undang-Undang Cipta Kerja No. 11/2020 dan PP                         provisions of Law No. 11 of 2020 on Job Creation and
               No. 35/2021 dengan menggunakan metode aktuarial                            Government Regulation No. 35 of 2021, using the
               “Projected Unit Credit ”.                                                  actuarial “Projected Unit Credit” method.

               Pesangon yang akan diberikan kepada karyawan pada                          Termination benefits payable to employees upon
               saat pemutusan hubungan kerja diakui pada saat                             termination of employment are recognized when such
               pesangon tersebut dibayarkan kepada karyawan.                              benefits are paid to the employees. Any increase in the
               Peningkatan jumlah pesangon terutang seiring dengan                        amount of termination benefits payable as a result of
               meningkatnya masa kerja karyawan, tidak diakui                             employees’ increasing length of service is not
               sebagai beban tahun berjalan.                                              recognized as an expense in the current year.

               Liabilitas neto Perusahaan atas program imbalan pasti                      The Company’s net liability in respect of the defined
               dihitung dari nilai kini liabilitas imbalan kerja pasti pada               benefit plan is calculated as the present value of the
               akhir periode pelaporan dikurangi nilai wajar aset                         defined benefit obligation at the end of the reporting
               program, jika ada. Perhitungan liabilitas imbalan kerja                    period less the fair value of plan assets, if any. The
               dilakukan dengan menggunakan metode Projected Unit                         defined benefit obligation is determined using the
               Credit dalam perhitungan aktuaria yang dilakukan                           Projected Unit Credit method in an actuarial valuation
               setiap akhir periode pelaporan.                                            performed at the end of each reporting period.




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Annual and Sustainability Report 2025                                                PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                           229
Page 232
PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                               2. MATERIAL ACCOUNTING POLICIES (continued)

    p. Liabilitas imbalan pascakerja (lanjutan)                             p. Post-employment benefits liability (continued)

        Pengukuran kembali liabilitas imbalan kerja, meliputi a)                Remeasurements of the defined benefit liability
        keuntungan dan kerugian aktuarial, b) imbal hasil atas                  comprise (a) actuarial gains and losses, (b) the return
        aset program, tidak termasuk bunga, dan c) setiap                       on plan assets, excluding amounts included in net
        perubahan dampak batas atas aset, tidak termasuk                        interest, and (c) any changes in the effect of the asset
        bunga, diakui di penghasilan komprehensif lain pada                     ceiling, excluding amounts included in net interest.
        saat terjadinya. Pengukuran kembali tidak direklasifikasi               Remeasurements are recognised in other
        ke laba rugi pada periode berikutnya.                                   comprehensive income when they occur and are not
                                                                                reclassified to profit or loss in subsequent periods.

        Ketika program imbalan berubah, atau terdapat                           When a defined benefit plan is amended, or when a
        kurtailmen atas program, bagian imbalan yang berubah                    curtailment occurs, the resulting past service cost, or
        terkait biaya jasa lalu, atau keuntungan atau kerugian                  any gain or loss on curtailment, is recognised in profit
        kurtailmen, diakui di laba rugi pada saat terdapat                      or loss at the earlier of when the plan amendment or
        perubahan atau kurtailmen atas program.                                 curtailment occurs and when the entity recognises
                                                                                related restructuring costs or termination benefits.

        Perusahaan menentukan (penghasilan) beban bunga                         The Company determines net interest income
        neto atas (aset) liabilitas imbalan kerja neto dengan                   (expense) on the net defined benefit (asset) liability by
        menerapkan tingkat bunga diskonto pada awal periode                     applying the discount rate determined at the beginning
        pelaporan tahunan untuk mengukur liabilitas imbalan                     of the annual reporting period to the net defined benefit
        kerja selama periode berjalan.                                          liability (asset) throughout the period.

    q. Pengakuan pendapatan dan beban                                       q. Revenues and expenses recognition

        Perusahaan mengakui pendapatan sesuai dengan                            The Company recognizes revenue in accordance with
        ketentuan PSAK No. 115, Perusahaan mengakui                             PSAK No. 115, Revenue from Contracts with
        pendapatan pada saat dan sejauh pengalihan barang                       Customers. Revenue is recognized when (or as) the
        atau jasa kepada pelanggan akan mencerminkan                            Company transfers control of goods or services to a
        jumlah yang diharapkan akan diterima Perusahaan                         customer, in an amount that reflects the consideration
        dalam pertukaran untuk barang atau jasa tersebut.                       to which the Company expects to be entitled in
        Dalam menerapkan Standar ini, Perusahaan                                exchange for those goods or services. In applying this
        mempertimbangkan syarat-syarat kontrak dan semua                        standard, the Company considers the terms of the
        fakta dan keadaan yang relevan.                                         contract and all relevant facts and circumstances.

        Pengakuan pendapatan harus memenuhi lima langkah                        Revenue recognition requires to fulfil five steps of
        analisa sebagai berikut:                                                assessment:
        - Identifikasi kontrak dengan pelanggan. Kontrak                        - Identify contract(s) with a customer. A contract is an
          adalah kesepakatan antara dua pihak atau lebih yang                     agreement between two or more parties that creates
          menciptakan hak dan kewajiban yang dapat                                enforceable rights and obligations.
          dipaksakan.

        - Identifikasi kewajiban pelaksanaan dalam kontrak.                     - Identification of performance obligations in a
          Kewajiban pelaksanaan adalah janji kepada                               contract. A performance obligation is a promise to
          pelanggan untuk mengalihkan barang atau jasa (atau                      transfer to a customer a good or service (or a bundle
          sekumpulan barang atau jasa) yang bersifat dapat                        of goods or services) that is distinct; or a series of
          dibedakan; atau serangkaian barang atau jasa                            distinct goods or services that are substantially the
          bersifat dapat dibedakan yang secara substansial                        same and have the same pattern of transfer to the
          sama dan memiliki pola pengalihan yang sama                             customer. A good or service is considered distinct if
          kepada pelanggan. Bersifat dapat dibedakan artinya                      it is separable or separately identifiable.
          dapat dipisahkan, atau dapat diidentifikasi secara
          terpisah.




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230         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 233
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                 PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                              2. MATERIAL ACCOUNTING POLICIES (continued)

           q. Pengakuan pendapatan dan beban (lanjutan)                           q. Revenues and expenses recognition (continued)

               - Dalam menetapkan harga transaksi, harga transaksi                    - In determining the transaction price, the transaction
                 merupakan jumlah imbalan yang diperkirakan menjadi                     price is the amount of consideration to which the
                 hak Perusahaan dalam pertukaran untuk                                  Company expects to be entitled in exchange for
                 mengalihkan barang atau jasa yang dijanjikan kepada                    transferring the promised goods or services to a
                 pelanggan, tidak termasuk jumlah yang ditagih atas                     customer, excluding amounts collected on behalf of
                 nama pihak ketiga (misalnya pajak pertambahan                          third parties (such as value added tax). If the
                 nilai). Apabila imbalan yang dijanjikan dalam kontrak                  consideration promised in a contract includes
                 mencakup jumlah imbalan variabel, Perusahaan                           variable consideration, the Company estimates the
                 mengestimasi jumlah imbalan yang diharapkan                            amount of consideration to which it expects to be
                 menjadi haknya dengan mempertimbangkan jumlah                          entitled, taking into account the variable
                 imbalan variabel yang akan diterima dan membatasi                      consideration and constraining such amounts to the
                 jumlah tersebut sejauh besar kemungkinan bahwa                         extent that it is highly probable that a significant
                 tidak akan terjadi pembalikan signifikan atas jumlah                   reversal of revenue recognized will not occur when
                 pendapatan yang diakui ketika ketidakpastian terkait                   the uncertainty associated with the variable
                 imbalan variabel tersebut diselesaikan.                                consideration is subsequently resolved.


               - Alokasi harga transaksi ke setiap kewajiban                          - Allocate the transaction price to each performance
                 pelaksanaan dengan menggunakan dasar harga jual                        obligation on the basis of the relative stand-alone
                 berdiri sendiri relatif dari setiap barang atau jasa                   selling prices of each distinct goods or services
                 berbeda yang dijanjikan di kontrak. Ketika tidak dapat                 promised in the contract. When these are not directly
                 diamati secara langsung, harga jual berdiri sendiri                    observable, the relative standalone selling price are
                 relatif diperkirakan berdasarkan biaya yang                            estimated based on expected cost plus margin.
                 diharapkan ditambah marjin.

               - Pendapatan      dari    penjualan    diakui    untuk                 - Revenue from sales is recognized to depict the
                 menggambarkan pengalihan barang atau jasa kepada                       transfer of goods or services to customers in an
                 pelanggan dalam jumlah yang mencerminkan imbalan                       amount that reflects the consideration to which the
                 yang diharapkan menjadi hak Perusahaan sebagai                         Company expects to be entitled in exchange for
                 imbalan atas barang dan/atau jasa tersebut.                            those goods and/or services. Revenue is recognized
                 Pengakuan pendapatan dilakukan ketika (atau                            when (or as) performance obligations are satisfied,
                 sepanjang waktu) kewajiban pelaksanaan dipenuhi,                       depending on whether control of the goods or
                 bergantung pada apakah pengalihan kendali atas                         services is transferred over time or at a point in time.
                 barang atau jasa terjadi sepanjang waktu atau pada                     The transfer of control to the customer is the primary
                 suatu waktu tertentu. Pengalihan kendali atas barang                   basis for determining the timing of revenue
                 atau jasa kepada pelanggan menjadi dasar utama                         recognition.
                 dalam menentukan waktu pengakuan pendapatan.


               Untuk setiap kewajiban pelaksanaan yang dipenuhi                       For each performance obligation satisfied over time,
               sepanjang waktu, Perusahaan mengakui pendapatan                        the Company recognizes revenue by measuring the
               dengan mengukur tingkat kemajuan penyelesaian                          progress toward complete satisfaction of that
               kewajiban pelaksanaan tersebut menggunakan metode                      performance obligation using an appropriate method of
               pengukuran kemajuan yang tepat, yaitu metode                           measuring progress, either the output method or the
               keluaran (output method) atau metode masukan (input                    input method. The method selected faithfully depicts
               method ). Metode yang dipilih menggambarkan secara                     the transfer of control of the promised goods or
               andal pengalihan pengendalian atas barang atau jasa                    services to the customer.
               yang dijanjikan kepada pelanggan.




                                                                          25




Annual and Sustainability Report 2025                                            PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 234
PT CAKRA BUANA RESOURCES ENERGI TBK                                                 PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                             2. MATERIAL ACCOUNTING POLICIES (continued)

    q. Pengakuan pendapatan dan beban (lanjutan)                          q. Revenues and expenses recognition (continued)

         Pendapatan dari jasa time charter dan ship                            Revenue from time charter and ship management
         management diakui secara proporsional selama periode                  services is recognized on a proportional basis over the
         kontrak, karena kewajiban pelaksanaan dipenuhi                        contract period, as the performance obligations are
         sepanjang waktu sesuai dengan ketentuan kontrak.                      satisfied over time in accordance with the terms of the
                                                                               contract.

         Penghasilan bunga                                                     Interest income

         Penghasilan bunga diakui dengan menggunakan                           Interest income is recognized on a time proportion
         metode suku bunga efektif atas dasar proporsi waktu.                  basis using the effective interest rate method.

         Biaya Mendapatkan Kontrak                                             Costs of Obtaining a Contract

         Biaya inkremental untuk mendapatkan kontrak dengan                    Incremental costs of obtaining a contract with a
         pelanggan diakui sebagai aset jika Perusahaan                         customer are recognized as an asset if the Company
         mengharapkan untuk memulihkan biaya tersebut. Biaya                   expects to recover those costs. Incremental costs are
         inkremental tersebut adalah biaya yang timbul untuk                   those costs incurred to obtain a contract with a
         mendapatkan kontrak dengan pelanggan yang tidak                       customer that would not have been incurred if the
         akan terjadi jika kontrak tersebut tidak berhasil                     contract had not been successfully obtained.
         diperoleh.

         Biaya Pemenuhan Kontrak                                               Costs of Fulfilling a Contract

         Suatu aset diakui untuk biaya yang timbul untuk                       An asset is recognized for costs incurred to fulfill a
         memenuhi kontrak hanya jika biaya tersebut memenuhi                   contract only if those costs meet all of the following
         semua kriteria berikut:                                               criteria:
         a) Biaya terkait langsung dengan kontrak atau kontrak                 a) Costs that relate directly to a contract or an
            yang diantisipasi yang secara spesifik dapat                          anticipated contract and that are specifically
            diidentifikasi oleh Perusahaan;                                       identifiable by the Company
         b) Biaya menghasilkan atau meningkatkan sumber                        b) Costs that generate or enhance resources of the
            daya Perusahaan yang akan digunakan untuk                             Company that will be used to satisfy (or continue to
            memenuhi (atau terus memenuhi) kewajiban                              satisfy) performance obligations in the future; and
            pelaksanaan di masa depan; dan
         c) Biaya diharapkan dapat dipulihkan.                                 c) The costs are expected to be recoverable.

         Aset yang dihasilkan akan diamortisasi secara                         The resulting asset is amortized on a systematic basis
         sistematis selama periode kontrak. Ketika biaya yang                  over the contract period. When costs incurred in
         timbul dalam memenuhi kontrak dengan pelanggan                        fulfilling a contract with a customer fall within the scope
         berada dalam lingkup Pernyataan lain, biaya tersebut                  of another Statement, such costs are accounted for in
         diperhitungkan sesuai dengan Pernyataan lainnya.                      accordance with that other Statement.

         Beban                                                                 Expenses

         Beban diakui pada saat             terjadinya   dengan                Expenses are recognised as incurred on an accrual
         menggunakan metode akrual.                                            basis.

    r.   Pajak penghasilan                                                r.   Income tax

         Perlakuan akuntansi atas perpajakan Perusahaan                        The accounting treatment for taxation of the Company
         sesuai dengan PSAK No. 212 "Pajak Penghasilan".                       is in accordance with SFAS No. 212 "Income Taxes".




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232         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 235
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                                 2. MATERIAL ACCOUNTING POLICIES (continued)

           r.   Pajak penghasilan (lanjutan)                                         r.   Income tax (continued)

                Beban pajak penghasilan merupakan jumlah dari pajak                       Income tax expense represents the sum of the current
                penghasilan badan yang terutang saat ini dan pajak                        corporate income tax payable and deferred tax. Income
                tangguhan. Pajak penghasilan diakui dalam laporan                         tax is recognized in profit or loss, except to the extent
                laba rugi, kecuali jika pajak tersebut terkait dengan                     that it relates to transactions or events recognized in
                transaksi atau kejadian yang diakui di penghasilan                        other comprehensive income or directly in equity. In
                komprehensif lain atau langsung diakui ke ekuitas.                        such cases, the related income tax is recognized in
                Dalam hal ini, pajak tersebut masing-masing diakui                        other comprehensive income or equity, respectively.
                dalam penghasilan komprehensif lain atau ekuitas.

                Pajak kini                                                                Current tax

                Aset dan liabilitas pajak kini untuk tahun berjalan diukur                Current income tax assets and liabilities for the current
                sebesar jumlah yang diharapkan dapat direstitusi dari                     year are measured at the amount expected to be
                atau dibayarkan kepada otoritas perpajakan.                               recovered from or paid to the taxation authority.

                Beban pajak kini ditentukan berdasarkan laba kena                         Current tax expense is determined based on the
                pajak tahun berjalan yang dihitung berdasarkan tarif                      taxable profit for the year computed using the
                pajak yang berlaku.                                                       prevailing tax rates.

                Bunga dan denda atas pajak disajikan sebagai bagian                       Interests and penalties are presented as part of other
                dari pendapatan atau beban lainnya.                                       income or expenses.

                Koreksi terhadap liabilitas perpajakan diakui pada saat                   Amendments to tax obligations are recorded when a
                surat ketetapan pajak diterima atau, jika diajukan                        tax assessment letter is received or, if appealed
                keberatan, pada saat surat keputusan atas keberatan                       against, when the result of the appeal is received, or, if
                diterima, atau jika mengajukan permohonan banding,                        appealed, by the time the appeal decision is received,
                pada saat surat keputusan banding diterima, atau jika                     or when applying for a judicial review, upon request
                mengajukan permohonan peninjauan kembali, pada                            reconsideration is received.
                saat permohonan peninjauan kembali diterima.


                Pajak tangguhan                                                           Deffered tax

                Aset dan liabilitas pajak tangguhan diakui menggunakan                    Deferred tax assets and liabilities are recognized using
                metode liabilitas atas konsekuensi pajak pada masa                        the liability method for the future tax consequences
                mendatang yang timbul dari perbedaan jumlah tercatat                      attributable to differences between the carrying
                aset dan liabilitas menurut laporan keuangan dengan                       amounts of existing assets and liabilities in the financial
                dasar pengenaan pajak aset dan liabilitas pada setiap                     statements and their respective tax bases at each
                tanggal pelaporan. Liabilitas pajak tangguhan diakui                      reporting date. Deferred tax liabilities are recognized
                untuk semua perbedaan temporer kena pajak dan aset                        for all taxable temporary differences and deferred tax
                pajak tangguhan diakui untuk perbedaan temporer yang                      assets are recognized for deductible temporary
                boleh dikurangkan dan akumulasi rugi fiskal, sepanjang                    differences and accumulated fiscal losses to the extent
                besar kemungkinan perbedaan temporer yang boleh                           that it is probable that taxable profit will be available in
                dikurangkan dan akumulasi rugi fiskal tersebut dapat                      future years against which the deductible temporary
                dimanfaatkan untuk mengurangi laba kena pajak pada                        differences and accumulated fiscal losses can be
                masa depan.                                                               utilized.




                                                                             27




Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                               233
Page 236
PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                              2. MATERIAL ACCOUNTING POLICIES (continued)

    r.   Pajak penghasilan (lanjutan)                                      r.   Income tax (continued)

         Pajak tangguhan (lanjutan)                                             Deffered tax (continued)

         Jumlah tercatat aset pajak tangguhan ditelaah ulang                    The carrying amount of a deferred tax asset is
         pada akhir setiap periode pelaporan dan diturunkan                     reviewed at the end of each reporting period and
         apabila laba fiskal mungkin tidak memadai untuk                        reduced to the extent that it is no longer probable that
         mengkompensasi sebagian atau semua manfaat aset                        sufficient taxable profit will be available to allow the
         pajak tangguhan tersebut. Pada akhir setiap periode                    benefit of part or all of that deferred tax asset to be
         pelaporan, Perusahaan menilai kembali aset pajak                       utilized. At the end of each reporting period, the
         tangguhan yang tidak diakui. Perusahaan mengakui                       Company reassesses unrecognized deferred tax asset.
         aset pajak tangguhan yang sebelumnya tidak diakui                      The Company recognizes a previously unrecognized
         apabila besar kemungkinan bahwa laba fiskal pada                       deferred tax asset to the extent that it has become
         masa depan akan tersedia untuk pemulihannya.                           probable that future taxable profit will allow the deferred
                                                                                tax asset to be recovered.

         Pajak final                                                            Final tax

         Berdasarkan Surat Keputusan Menteri Keuangan                           Based on the Decree of the Minister of Finance of the
         Republik Indonesia No. 416/ KMK.04/1996 tanggal 14                     Republic of Indonesia No. 416/KMK.04/1996 dated 14
         Juni 1996 dan Surat Edaran Direktorat Jenderal Pajak                   June 1996 and the Circular Letter of the Directorate
         No. 29/PJ.4/1996 tanggal 13 Agustus 1996, pendapatan                   General of Taxes No. 29/PJ.4/1996 dated 13 August
         dari jasa pengangkutan dan sewa kapal yang diterima                    1996, revenue derived from transportation services and
         Wajib Pajak Dalam Negeri dikenakan pajak bersifat final                vessel charter received by Domestic Taxpayers is
         sebesar 1,2% dari pendapatan yang diterima Wajib                       subject to final income tax at a rate of 1.2% of the gross
         Pajak Dalam Negeri, serta biaya sehubungan dengan                      revenue received by the Domestic Taxpayers.
         kegiatan di atas tidak dapat dikurangkan untuk tujuan                  Expenses related to the aforementioned activities are
         perhitungan pajak penghasilan.                                         non-deductible for income tax purposes.


         Beban pajak penghasilan tahun berjalan sehubungan                      Current income tax expense related to income subject
         dengan penghasilan yang dikenakan pajak penghasilan                    to final income tax is recognized proportionally to the
         final diakui secara proporsional dengan total                          total revenue recognized during the current period for
         pendapatan yang diakui pada periode berjalan untuk                     accounting purposes.
         tujuan akuntansi.

         Selisih lebih (kurang) antara jumlah pajak penghasilan                 Any overpayment (underpayment) representing the
         final yang telah dibayar dengan jumlah yang dibebankan                 difference between the amount of final income tax
         sebagai beban pajak penghasilan final pada laporan                     already paid and the amount charged as final income
         laba rugi dan penghasilan komprehensif lain diakui                     tax expense in the statement of profit or loss and other
         sebagai pajak dibayar di muka (utang pajak).                           comprehensive income is recognized as prepaid tax
                                                                                (tax payable).

         Peraturan perpajakan di Indonesia mengatur beberapa                    Indonesian tax regulations stipulate that certain types
         jenis penghasilan dikenakan pajak yang bersifat final.                 of income are subject to final income tax. Final income
         Pajak final yang dikenakan atas nilai bruto transaksi                  tax imposed on the gross amount of a transaction
         tetap dikenakan walaupun atas transaksi tersebut                       remains payable even if the transaction results in a loss
         pelaku transaksi mengalami kerugian. Pajak                             to the taxpayer. Final income tax is calculated based
         penghasilan final dihitung pada jumlah total tagihan                   on the total amount billed for contract values collected
         untuk nilai kontrak yang dikumpulkan selama setahun.                   during the year.

         Pajak final tidak termasuk dalam lingkup yang diatur                   Final tax is no longer governed by SFAS No. 212,
         oleh PSAK No. 212 “Pajak Penghasilan”.                                 “Income Tax”.




                                                                   28




234         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 237
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       2. KEBIJAKAN AKUNTANSI MATERIAL (lanjutan)                               2. MATERIAL ACCOUNTING POLICIES (continued)

           s.   Informasi segmen                                                   s. Segment information

                Informasi segmen diungkapkan sesuai dengan PSAK                         Segment information is disclosed in accordance with
                No. 108 "Segmen Operasi".                                               SFAS No. 108 "Operating Segments".

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

                i.    Yang terlibat dalam aktivitas bisnis untuk                        i.   That engages in business activities which it may
                      memperoleh pendapatan dan menimbulkan beban                            earn revenue and incur expenses (including
                      (termasuk pendapatan dan beban terkait dengan                          revenue and expenses relating to the transaction
                      transaksi dengan komponen lain dari entitas yang                       with other components of the same entity);
                      sama);
                ii.   Hasil operasinya dikaji ulang secara reguler oleh                 ii. Whose operating results are reviewed regularly by
                      pengambil keputusan operasional untuk membuat                         the entity’s chief operating decision maker to make
                      keputusan tentang sumber daya yang dialokasikan                       decision about resources to be allocated to the
                      pada segmen tersebut dan menilai kinerjanya; dan                      segments and assess its performance; and
                iii.. Tersedia informasi     keuangan      yang   dapat                 iii.. For which discrete financial information is
                      dipisahkan.                                                             available.

           t.   Laba Per Saham                                                     t.   Earnings per Share

                Laba per saham dasar dihitung dengan membagi laba                       Basic earnings per share is calculated by dividing net
                bersih yang tersedia bagi pemegang saham                                profit attributable to the Company’s shareholders by the
                Perusahaan dengan menggunakan jumlah saham                              number of outstanding shares based on the issued
                beredar sesuai dengan jumlah modal saham pada saat                      share capital as at the date the financial statements are
                laporan keuangan diterbitkan.                                           issued..

                Laba per saham dilusian menyesuaikan angka yang                         Diluted earnings per share adjusts the figures used in
                digunakan dalam penentuan laba per saham dasar.                         the determination of basic earnings per share. For the
                Untuk tujuan perhitungan laba per saham dilusian,                       purposes of calculating diluted earnings per share, the
                Perusahaan menyesuaikan laba atau rugi yang dapat                       profit or loss attributable to the Company’s ordinary
                diatribusikan kepada pemegang saham biasa                               equity holders is adjusted for the after-tax effects of
                Perusahaan dengan efek setelah pajak bunga yang                         interest recognised during the period on convertible
                diakui dalam periode tersebut terkait dengan                            promissory notes.
                promissory notes konversi.

           u. Dividen                                                              u. Dividend

                Pembagian dividen final diakui sebagai liabilitas ketika                Final dividend distributions are recognized as liabilities
                dividen tersebut disetujui Rapat Umum Pemegang                          when such dividends are approved by the Company’s
                Saham Perusahaan. Pembagian dividen interim diakui                      General Meeting of Shareholders. Interim dividend
                sebagai liabilitas ketika dividen disetujui berdasarkan                 distributions are recognized as liabilities when the
                keputusan rapat Direksi, disetujui oleh Dewan                           dividends are approved based on a resolution of the
                Komisaris, serta sudah diumumkan kepada publik.                         Board of Directors, approved by the Board of
                                                                                        Commissioners, and have been announced to the
                                                                                        public.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG                             3.   SIGNIFICANT ACCOUNTING                ESTIMATION        AND
   PENTING                                                                   JUDGEMENTS

    Pertimbangan, Estimasi dan Asumsi                                        Significant Accounting Judgments, Estimates and
                                                                             Assumptions

    Penyusunan laporan keuangan mengharuskan manajemen                       The judgments made by management in the process of
    Perusahaan untuk membuat pertimbangan, estimasi dan                      applying the Company’s accounting policies which have
    asumsi yang mempengaruhi jumlah yang dilaporkan dari                     the most significant effects on the amounts recognized in
    pendapatan, beban, aset dan liabilitas, dan pengungkapan                 the financial statements is classification on financial assets
    atas liabilitas kontinjensi, pada akhir periode pelaporan.               and liabilities.


    Asumsi utama masa depan dan sumber utama estimasi                        The key assumptions concerning the future and other major
    ketidakpastian lain pada tanggal pelaporan yang memiliki                 sources of estimation uncertainty at the reporting date that
    risiko signifikan bagi penyesuaian yang material terhadap                have a significant risk of resulting in a material adjustment
    nilai tercatat aset dan liabilitas untuk periode berikutnya              to the carrying amounts of assets and liabilities for the
    diungkapkan di bawah ini.                                                subsequent period are disclosed below.

    Perusahaan mendasarkan estimasi dan asumsi pada                          The Company bases its estimates and assumptions on
    parameter yang tersedia pada saat laporan keuangan                       parameters available at the time the financial statements
    disusun. Asumsi dan situasi mengenai perkembangan masa                   are prepared. Assumptions and circumstances regarding
    depan mungkin berubah akibat perubahan pasar atau situasi                future developments may change as a result of market
    diluar kendali Perusahaan. Perubahan tersebut dicerminkan                changes or circumstances beyond the Company’s control.
    dalam asumsi terkait pada saat terjadinya.                               Such changes are reflected in the related assumptions as
                                                                             and when they occur.

    Pertimbangan, estimasi dan asumsi berikut ini dibuat oleh                The following judgments, estimates and assumptions are
    manajemen dalam rangka penerapan kebijakan akuntansi                     made by management in applying the Company’s
    Perusahaan yang memiliki pengaruh paling signifikan atas                 accounting policies and have the most significant effect on
    jumlah yang diakui dalam laporan keuangan:                               the amounts recognized in the financial statements:

    Menentukan Mata Uang Fungsional                                          Determining the Functional Currency

    Mata uang fungsional adalah mata uang dari lingkungan                    The functional currency is the currency of the primary
    ekonomi utama dimana Perusahaan beroperasi. Manajemen                    economic environment in which the Company operates.
    mempertimbangkan mata uang yang paling mempengaruhi                      Management considers the currency that mainly influences
    pendapatan dan harga pokok penjualan dan indikator lainnya               revenues and cost of sales, as well as other indicators, in
    dalam menentukan mata uang yang paling sesuai mewakili                   determining the currency that most appropriately represents
    dampak ekonomi yang mendasari transaksi, peristiwa dan                   the underlying economic effects of transactions, events and
    kondisi.                                                                 conditions.

    Menentukan Klasifikasi Aset Keuangan dan Liabilitas                      Determination of the Classification of Financial Assets and
    Keuangan                                                                 Financial Liabilities

    Perusahaan menetapkan klasifikasi atas aset dan liabilitas               The Company determines the classification of certain
    tertentu sebagai aset keuangan dan liabilitas keuangan                   assets and liabilities as financial assets and financial
    dengan mempertimbangkan definisi yang ditetapkan PSAK                    liabilities by assessing whether the definitions set forth in
    No. 109 dipenuhi. Dengan demikian, aset keuangan dan                     PSAK No. 109 are met. Accordingly, financial assets and
    liabilitas keuangan diakui sesuai dengan kebijakan akuntansi             financial liabilities are recognized in accordance with the
    Perusahaan seperti diungkapkan pada Catatan 2f atas                      Company’s accounting policies as disclosed in Note 2f to
    laporan keuangan.                                                        the financial statements.




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236         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 239
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG                              3.    SIGNIFICANT ACCOUNTING                ESTIMATION        AND
          PENTING (lanjutan)                                                          JUDGEMENTS (continued)

           Menentukan dan Menghitung Penyisihan Kerugian                              Determining and Calculating Allowance for Losses
           Ketika mengukur kerugian kredit ekspektasian (“ECL”).                      In measuring expected credit losses (“ECL”), the Company
           Perusahaan menggunakan informasi berwawasan ke depan                       uses reasonable and supportable forward-looking
           yang wajar dan dapat didukung yang didasarkan pada                         information that is based on assumptions about future
           asumsi untuk pergerakan masa depan dari berbagai                           movements of various economic factors and how those
           ekonomi dan bagaimana akan saling memengaruhi.                             factors will interact with one another.


           Probabilitas default merupakan input utama dalam mengukur                  The probability of default is a key input in measuring ECL.
           ECL. Probabilitas gagal bayar (default) adalah estimasi                    Probability of default represents an estimate of the
           kemungkinan gagal bayar (default) selama jangka waktu                      likelihood of default over a given time horizon, which is
           tertentu, yang perhitungannya mencakup data historis,                      calculated by incorporating historical data, assumptions,
           asumsi, dan ekspektasi kondisi masa depan.                                 and expectations of future economic conditions.

           Menentukan Apakah         Suatu    Kontrak      adalah   atau              Determination of Whether an Arrangement Is, or Contains,
           Mengandung Sewa                                                            a Lease
           Penentuan apakah suatu kontrak merupakan atau                              Determining whether a contract is, or contains, a lease
           mengandung sewa memerlukan pertimbangan yang cermat                        requires careful judgment to assess whether the contract
           untuk menilai apakah kontrak tersebut memberikan hak                       conveys the right to obtain substantially all of the economic
           untuk memperoleh secara substansial semua manfaat                          benefits from the use of an asset throughout the period of
           ekonomik dari penggunaan aset selama periode                               use and the right to direct the use of the asset, even if such
           penggunaan dan hak untuk mengarahkan penggunaan aset,                      rights are not explicitly specified in the contract.
           bahkan jika kontrak tersebut hak tidak secara eksplisit
           ditentukan dalam kontrak.

           Menentukan Opsi Masa Sewa                                                  Determination of Lease Term Options

           Masa sewa merupakan komponen signifikan dalam                              The lease term is a significant component in the
           pengukuran aset hak-guna dan liabilitas sewa. Pertimbangan                 measurement of right-of-use assets and lease liabilities.
           dilakukan dalam menentukan apakah terdapat opsi untuk                      Judgment is applied in determining whether options to
           memperpanjang sewa atau membeli aset pendasar cukup                        extend the lease or to purchase the underlying asset are
           pasti akan dieksekusi, atau opsi untuk mengakhiri sewa tidak               reasonably certain to be exercised, or whether options to
           akan dieksekusi, ketika memastikan periode yang akan                       terminate the lease are reasonably certain not to be
           disertakan dalam masa sewa. Dalam menentukan masa                          exercised, when determining the period to be included in
           sewa, semua fakta dan keadaan yang menciptakan insentif                    the lease term. In determining the lease term, all relevant
           ekonomi untuk menggunakan opsi perpanjangan, atau tidak                    facts and circumstances that create an economic incentive
           untuk menggunakan opsi penghentian, dipertimbangkan                        to exercise extension options, or not to exercise termination
           pada tanggal insepsi sewa.                                                 options, are considered at the lease commencement date.



           Faktor-faktor yang dipertimbangkan dapat mencakup                          Factors considered may include the importance of the asset
           pentingnya aset untuk operasi Perusahaan; perbandingan                     to the Company’s operations; a comparison of the
           syarat dan ketentuan dengan harga pasar yang berlaku;                      contractual terms and conditions with prevailing market
           timbulnya penalti yang signifikan; adanya perbaikan hak                    rates; the existence of significant penalties; the presence of
           penyewaan yang signifikan; dan biaya serta masalah                         significant leasehold improvements; and the costs and
           gangguan untuk mengganti aset. Perusahaan menilai                          business disruption associated with replacing the asset.
           kembali apakah cukup pasti untuk mengeksekusi opsi                         The Company reassesses whether it is reasonably certain
           perpanjangan, atau tidak mengeksekusi opsi penghentian,                    to exercise an extension option, or not to exercise a
           jika terdapat peristiwa signifikan atau perubahan keadaan                  termination option, if a significant event or a significant
           yang signifikan.                                                           change in circumstances occurs.




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Annual and Sustainability Report 2025                                                PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 240
PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG                           3.   SIGNIFICANT ACCOUNTING                ESTIMATION        AND
   PENTING (lanjutan)                                                      JUDGEMENTS (continued)

    Menentukan Metode Penyusutan dan Estimasi Masa                         Determining the Depreciation Method and Useful Lives of
    Manfaat Aset Tetap                                                     Property and Equipment
    Perusahaan mengestimasi masa manfaat ekonomis aset                     The Company estimates the useful lives of property and
    tetap berdasarkan utilisasi dari aset yang diharapkan dan              equipment based on the expected asset utilization,
    didukung dengan rencana dan strategi usaha dan perilaku                supported by business plans, strategies, and market
    pasar.                                                                 behavior.

    Estimasi dari masa manfaat aset tetap adalah berdasarkan               The estimated useful lives of property and equipment are
    penelaahan Perusahaan terhadap praktik industri, evaluasi              based on the Company’s review of industry practices,
    teknis internal dan pengalaman untuk aset yang setara.                 internal technical evaluations, and experience with similar
                                                                           assets.

    Estimasi masa manfaat ditelaah minimal setiap akhir tahun              Estimated useful lives are reviewed at least at the end of
    pelaporan dan diperbarui jika ekspektasi berbeda dari                  each reporting year and are updated if expectations differ
    estimasi sebelumnya dikarenakan pemakaian dan kerusakan                from previous estimates due to usage and physical wear
    fisik, keusangan secara teknis atau komersial dan hukum                and tear, technical or commercial obsolescence, legal or
    atau pembatasan lain atas penggunaan dari aset serta                   other restrictions on the use of the asset, and technological
    perkembangan teknologi.                                                developments.

    Namun demikian, adalah mungkin, hasil di masa depan dari               However, it is possible that future operating results could be
    operasi dapat dipengaruhi secara material oleh perubahan-              materially affected by changes in estimates resulting from
    perubahan dalam estimasi yang diakibatkan oleh perubahan               changes in the factors mentioned above, and, therefore,
    faktor-faktor yang disebutkan di atas, dan karenanya biaya             future depreciation charges may be revised.
    penyusutan masa depan mungkin direvisi.

    Estimasi Beban Pensiun dan Imbalan Pasca Kerja                         Determining the Depreciation Method and Useful Lives of
                                                                           Property and Equipment

    Penentuan liabilitas atas pensiun dan kewajiban imbalan                The determination of the Company’s pension and post-
    pasca kerja Perusahaan bergantung pada pemilihan asumsi                employment benefit obligations depends on the selection of
    yang digunakan oleh aktuaris independen dalam menghitung               assumptions used by independent actuaries in calculating
    jumlah-jumlah tersebut.                                                such amounts.

    Asumsi tersebut termasuk antara lain, tingkat diskonto,                These assumptions include, among others, the discount
    tingkat kenaikan gaji tahunan, tingkat pengunduran diri                rate, the annual salary increase rate, the annual employee
    karyawan tahunan, tingkat kecacatan, umur pensiun dan                  turnover rate, the disability rate, retirement age, mortality
    tingkat kematian dan tingkat pengembalian aset program                 rate, and the expected rate of return on plan assets.
    yang diharapkan.

    Meskipun Perusahaan berkeyakinan bahwa asumsi pada                     Although the Company believes that the assumptions at the
    tanggal pelaporan tersebut wajar dan telah sesuai,                     reporting date are reasonable and appropriate, significant
    perbedaan signifikan pada hasil aktual atau perubahan                  differences in actual outcomes or significant changes in the
    signifikan dalam asumsi yang ditetapkan Perusahaan dapat               assumptions used by the Company could materially affect
    mempengaruhi secara material liabilitas dan beban imbalan              the post-employment benefit obligations and expenses.
    pascakerja. Penjelasan lebih rinci diungkapkan dalam                   Further details are disclosed in Note 20 to the financial
    Catatan 20 atas laporan keuangan.                                      statements.




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238         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 241
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)

       4. KAS DAN SETARA KAS                                                      4.    CASH AND CASH EQUIVALENTS

           Kas dan setara kas terdiri dari :                                            Cash and cash equivalents consist of:

                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024

           Rupiah                                                                                                                           Rupiah
           PT Bank Rakyat Indonesia Tbk                    14.200.348.301                         -                   PT Bank Rakyat Indonesia Tbk
           PT Bank Central Asia, Tbk                           73.411.531                  90.346.402                     PT Bank Central Asia, Tbk
           PT Bank Mandiri (Persero) Tbk                       18.930.882               3.154.829.629                 PT Bank Mandiri (Persero) Tbk
           PT Bank CIMB Niaga, Tbk                              6.323.613                   6.228.191                     PT Bank CIMB Niaga, Tbk
           Jumlah                                          14.299.014.327               3.251.404.222                                         Total

           Pada tanggal 31 Desember 2025 dan 2024 tidak terdapat saldo                  As of December 31, 2025 and 2024 there are no cash and
           kas dan setara kas dengan pihak berelasi, seluruh saldo kas                  cash equivalents with related parties, all cash and cash
           dan setara kas yang tercatat dimiliki dan dikendalikan oleh                  equivalents recorded as owned and controlled by the
           Perusahaan serta atas nama Perusahaan.                                       Company and on behalf of the Company.

           Pada tanggal 31 Desember 2025 dan 2024, semua kas di bank                    As of December 31, 2025 and 2024 , all cash in banks are
           disimpan di bank pihak ketiga, dan tidak digunakan sebagai                   deposited in third party banks, and are not used as
           jaminan.                                                                     collateral.

       5. PIUTANG USAHA                                                           5.    ACCOUNT RECEIVABLES

           Piutang usaha berdasarkan pelanggan adalah sebagai berikut:                  Account receivables based on customer are as follows:

                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024

           Pihak ketiga                                                                                                               Third parties
           Rupiah                                                                                                                           Rupiah
           PT SYS Petrolindo Utama                          9.570.116.580                 671.043.200                    PT SYS Petrolindo Utama
           PT Wistara Internasional Maritim                 6.406.030.066               6.406.030.066              PT Wistara Internasional Maritim
           PT Bahari Sentosa Bersatu                        1.000.000.000                           -                   PT Bahari Sentosa Bersatu
           PT Landseadoor International Shipping              640.923.337                           -         PT Landseadoor International Shipping
           PT. Vama Samudera Jaya                             598.900.000                           -                    PT. Vama Samudera Jaya
           PT Armada Elnusa Samudera                           72.890.000                  72.890.000                 PT Armada Elnusa Samudera
           PT Padas Mustapa Jaya                                        -                 249.750.000                      PT Padas Mustapa Jaya
           PT Mitra Bahari Internusa                                    -                 400.000.000                     PT Mitra Bahari Internusa
           Sub jumlah                                      18.288.859.983               7.799.713.266                                     Sub total

           Dollar Amerika Serikat                                                                                            United States Dollar
           PT Gunanusa Utama Fabricators                                                                            PT Gunanusa Utama Fabricators
             (USD 750.000)                                 13.962.352.500                              -                         (USD 750,000)
           Sub jumlah                                      13.962.352.500                              -                                Sub total
           Jumlah piutang usaha                            32.251.212.483               7.799.713.266                    Account receivables total
           Cadangan penurunan nilai piutang                (6.478.920.066)                         -         Allowance for impairment of receivables
           Piutang usaha - bersih                          25.772.292.417               7.799.713.266                    Account receivables - net




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Annual and Sustainability Report 2025                                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 242
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                            (Expressed in Rupiah unless otherwise stated)

5. PIUTANG USAHA (lanjutan)                                               5.   ACCOUNT RECEIVABLES (continued)

    Piutang usaha berdasarkan umur piutang adalah sebagai                      Account receivables based on aging schedules are as
    berikut:                                                                   follows:
                                       31 Desember 2025/                  31 Desember 2024/
                                       December 31, 2025                  December 31, 2024
    Belum jatuh tempo                                            -                            -                                   Current
    Telah jatuh tempo:                                                                                                         Past due:
    1 - 30 hari                                     24.173.392.417             3.480.629.266                                  1 - 30 days
    31 - 60 hari                                       750.000.000                         -                                 31 -60 days
    Lebih dari 60 hari                               7.327.820.066             4.319.084.000                           More than 60 days
    Jumlah                                          32.251.212.483             7.799.713.266                                        Total

    Berdasarkan hasil penelaahan terhadap adanya indikasi                      Based on the results of the review of indications of
    penurunan nilai pada akhir periode, manajemen berkeyakinan                 impairment at the end of the period, management believes
    bahwa cadangan yang dibentuk cukup untuk menutupi                          the established allowance is sufficient to cover impairment
    penurunan nilai dari piutang usaha.                                        of account receivables.

    Piutang usaha Perusahaan telah dijaminkan sebagai agunan                   The Company’s account receivables have been pledged as
    atas fasilitas pinjaman yang diperoleh dari PT Bank Rakyat                 collateral for loan facilities obtained from PT Bank Rakyat
    Indonesia, Tbk (catatan 22).                                               Indonesia (Persero) Tbk (see Note 22).

6. PIUTANG LAIN-LAIN                                                      6.   OTHER RECEIVABLES
    a.   Jangka pendek                                                         a.    Short-term
                                             31 Desember 2025/            31 Desember 2024/
                                             December 31, 2025            December 31, 2024
         Pihak ketiga                                                                                                        Third parties
         Dollar Amerika Serikat                                                                                      United States Dollar
         Hilong Shipping Holding Limited                                                                   Hilong Shipping Holding Limited
         - (USD 300.000)                             5.034.600.000                            -                         - (USD 300.000)

         Rupiah                                                                                                                    Rupiah
         PT Vama Samudera Jaya                        103.843.486                             -                 PT Vama Samudera Jaya
         PT Wistara Internasional Maritim                       -                   302.611.092           PT Wistara Internasional Maritim
         PT Halmahera Persada Lygend                            -                     9.600.000            PT Halmahera Persada Lygend
         PT Obi Nickel Cobalt                                   -                     7.500.000                      PT Obi Nickel Cobalt
         Jumlah                                      5.138.443.486                  319.711.092                                     Total
    b.   Jangka panjang                                                        b.    Long-term

                                             31 Desember 2025/            31 Desember 2024/
                                             December 31, 2025            December 31, 2024
         Pihak berelasi                                                                                                  Related parties
         Rupiah                                                                                                                  Rupiah
         PT Mandala Armada Nusantara                             -             2.741.476.324               PT Mandala Armada Nusantara
         PT Wistara Andalas Persada                              -               238.715.000                 PT Wistara Andalas Persada
         PT Karunia Karya Nasional                               -                 7.294.660                   PT Karunia Karya Nasional
         PT Bima Harsa Rahardja                                  -                 1.400.000                    PT Bima Harsa Rahardja
         Jumlah                                                  -             2.988.885.984                                        Total




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240          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 243
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       6. PIUTANG LAIN-LAIN (lanjutan)                                          6.    OTHER RECEIVABLES (continued)

           Piutang lain-lain adalah piutang yang timbul dari transaksi                Other receivables represent receivables arising from
           diluar kegiatan usaha normal Perusahaan yang merupakan                     transactions outside the Company’s normal course of
           pinjaman yang diberikan kepada pihak berelasi dan pihak                    business, which mainly consist of loans granted to related
           ketiga yang tidak dikenakan jaminan dan bunga serta dapat                  parties and third parties. Such loans are unsecured, non-
           dibayarkan sewaktu-waktu.                                                  interest bearing, and repayable on demand.

           Manajemen Perusahaan berkeyakinan bahwa seluruh                            The Company’s management believes that all other
           piutang lain-lain dapat ditagihkan sehingga tidak diperlukan               receivables are collectible; therefore, no allowance for
           penyisihan atas piutang ragu-ragu.                                         doubtful accounts is required.

       7. PERSEDIAAN                                                            7.    INVENTORIES

           Persediaan per 31 Desember 2025 dan 2024 merupakan                         Inventories as of December 31, 2025 and 2024 consist of
           persediaan berupa bahan bakar masing-masing sebesar                        fuel inventories amounting to Rp6,164,981,599 and
           Rp6.164.981.599 dan Rp5.616.404.888. Berdasarkan                           Rp5,616,404,888, respectively. Based on the review of the
           penelaahan terhadap kondisi fisik persediaan, manajemen                    physical condition of the inventories, management believes
           berpendapat bahwa nilai tercatat persediaan tersebut dapat                 that the carrying amount of such inventories is recoverable
           dipulihkan dan tidak perlu membentuk penyisihan penurunan                  and no allowance for inventory write-down is required.
           nilai.

           Persediaan Perusahaan telah dijaminkan sebagai agunan                      The Company’s inventories have been pledged as collateral
           atas fasilitas pinjaman yang diperoleh dari PT Bank Rakyat                 for loan facilities obtained from PT Bank Rakyat Indonesia
           Indonesia, Tbk (catatan 22).                                               (Persero) Tbk (see Note 22).

           Pada tanggal 31 Desember 2025 dan 2024, biaya                              As of December 31, 2025 and 2024, the inventory costs
           persediaan yang diakui sebagai beban dan disajikan sebagai                 recognized as expenses and presented as “Cost of goods
           “Beban pokok penjualan” masing-masing sebesar                              sold”    amounted     to     Rp12,842,727,585.00   and
           Rp12.842.727.585,00 dan Rp8.185.992.870 (catatan 27).                      Rp8,185,992,870, respectively (note 27).

       8. BIAYA DIBAYAR DIMUKA                                                  8.    PREPAID EXPENSES

           Rincian biaya dibayar di muka dan uang muka adalah                         The details of prepaid expenses and advances are as
           sebagai berikut:                                                           follows:
                                                    31 Desember 2025/           31 Desember 2024/
                                                    December 31, 2025           December 31, 2024
           Asuransi                                         341.247.435                 579.158.472                                    Insurance
           Lain-lain                                            150.000                   3.500.000                                       Others

           Jumlah                                           341.397.435                 582.658.472                                        Total

       9. UANG MUKA                                                             9.    ADVANCE PAYMENT

           Rincian uang muka adalah sebagai berikut:                                  The details of advances are as follows:

                                                    31 Desember 2025/           31 Desember 2024/
                                                    December 31, 2025           December 31, 2024

           Uang muka lancar                                                                                                     Current advances
             Operasional                                   1.758.200.883                545.957.946                                Operational
             Profesional                                     725.000.000                          -                               Professional
           Sub jumlah                                      2.483.200.883                545.957.946                                    Sub total




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Annual and Sustainability Report 2025                                                PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 244
PT CAKRA BUANA RESOURCES ENERGI TBK                                                                 PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                                 For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                        (Expressed in Rupiah unless otherwise stated)

9. UANG MUKA (lanjutan)                                                          9.     ADVANCE PAYMENT (continued)

                                                31 Desember 2025/               31 Desember 2024/
                                                December 31, 2025               December 31, 2024

    Uang muka tidak lancar                                                                                                        Non-current advances
      Pembelian aset tetap                                       -                        874.746.601                       Purchase of finished goods
    Sub jumlah                                                   -                        874.746.601                                          Sub total
    Jumlah                                             2.483.200.883                    1.420.704.547                                              Total

10. DEPOSIT SEWA                                                                 10. RENT DEPOSIT

    Rincian deposit sewa adalah sebagai berikut:                                        The details of rent deposits are as follows:

                                                31 Desember 2025/               31 Desember 2024/
                                                December 31, 2025               December 31, 2024
    Jangka Pendek                                                                                                                                   Short Term
    Pihak ketiga                                                                                                                                   Third parties

    PT Nusantara Terminal Terpadu                         320.000.000                     320.000.000                   PT Nusantara Terminal Terpadu
    PT Fortuna Andre Lines                                128.500.000                     142.500.000                           PT Fortuna Andre Lines
    PT Wistara Internasional Maritim                                -                   2.695.900.000                   PT Wistara Internasional Maritim
    PT Epo Trans Abadi                                              -                     410.000.000                               PT Epo Trans Abadi
    PT Fortuna Samudera                                             -                       1.346.667                            PT Fortuna Samudera
    Deposit lainnya                                         4.800.000                       4.700.000                                    Deposit lainnya
    Sub jumlah                                            453.300.000                       3.574.446.667                                                Sub total
    Jangka Panjang                                                                                                                             Long Term
    Pihak berelasi (catatan 32)                           400.000.000                   1.225.000.000                               Related party (note 32)
    Sub jumlah                                            400.000.000                   1.225.000.000                                            Sub total

    Jumlah                                                853.300.000                   4.799.446.667                                                          Total

    Deposit kepada pihak berelasi merupakan deposit sewa                                Deposits with related parties represent lease deposits for
    untuk masa sewa lebih dari satu tahun.                                              lease terms of more than one year.

11. ASET TETAP                                                                   11. FIXED ASSETS
                                                              31 Desember 2025/ December 31, 2025
                               Saldo awal/       Penambahan/             Pengurangan/            Reklasifikasi/          Saldo akhir/
                            Beginning Balance      Addition               Deductions             Reclasification       Ending balance
    Harga perolehan                                                                                                                                  Acquisition cost
    Kepemilikan langsung                                                                                                                            Direct ownership
    Kapal                     272.393.038.193   1.672.320.000.000         10.771.140.000                           -   1.933.941.898.193                       Vessels
    Perabot dan instalasi                                                                                                                  Office furniture and building
       bangunan kantor          1.777.711.596                    -                      -                          -       1.777.711.596                installations
    Peralatan kantor              273.044.156         90.554.540                        -                          -         363.598.696              Office equitment
    Kendaraan                     592.400.000                    -                      -                          -         592.400.000                        Vehicle
    Perlengkapan kantor           862.825.233                    -                      -                          -         862.825.233                Office supplies
    Peralatan kapal             7.935.999.479       6.478.329.867                       -                          -      14.414.329.346             Vessel equipment
    Docking                    33.000.821.119     20.168.065.738                        -             874.746.601      54.043.633.457,65                       Docking
    Aset dalam                                                                                                                                          Construction in
       pembangunan             24.128.754.008                    -                      -                          -      24.128.754.008                      progress

    Sub jumlah                340.964.593.784   1.699.056.950.145         10.771.140.000              874.746.601      2.030.125.150.530                     Sub total




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242              PT CAKRA BUANA RESOURCES ENERGI Tbk                                                                   Laporan Tahunan dan Keberlanjutan 2025
Page 245
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                             PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                            For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                   (Expressed in Rupiah unless otherwise stated)

       11. ASET TETAP (lanjutan)                                                      11. FIXED ASSETS (continued)

                                                                  31 Desember 2025/ December 31, 2025
                                      Saldo awal/      Penambahan/          Pengurangan/           Reklasifikasi/          Saldo akhir/
                                   Beginning Balance     Addition             Deductions          Reclassification        Ending balance
           Akumulasi penyusutan                                                                                                            Accumulated depreciation
           Kepemilikan langsung                                                                                                                      Direct ownership
           Kapal                      22.519.977.116    16.171.450.749          3.590.380.000                               35.101.047.865                      Vessels
           Perabot dan instalasi                                                                                                           Office furniture and building
              bangunan kantor            516.912.623        222.213.950                     -                         -        739.126.573               installations
           Peralatan kantor              261.310.784         65.331.965                     -                         -        326.642.749             Office equitment
           Kendaraan                     148.100.000         74.050.000                     -                         -        222.150.000                       Vehicle
           Perlengkapan kantor           448.426.490        214.141.142                     -                         -        662.567.632               Office supplies
           Peralatan kapal             4.739.912.075       2.547.839.268                    -                         -      7.287.751.343           Vessel equipment
           Docking                    16.960.232.259       6.239.788.860                    -                         -     23.200.021.119                      Docking

           Sub jumlah                 45.594.871.347    25.534.815.934          3.590.380.000                         -     67.539.307.281                    Sub total

           Nilai tercatat neto       295.369.722.437                                                                      1.962.585.843.249        Net carrying value

           Penurunan nilai             7.238.626.202    10.856.007.229                      -                         -     18.094.633.431

           Nilai tercatat neto       288.131.096.234                                                                      1.944.491.209.818        Net carrying value

                                                                  31 Desember 2024/ December 31, 2024
                                      Saldo awal/      Penambahan/          Pengurangan/            Reklasifikasi/         Saldo akhir/
                                   Beginning balance     Addition             Deductions          Recclassification       Ending balance
           Harga perolehan                                                                                                                            Acquisition cost
           Kepemilikan langsung                                                                                                                      Direct ownership
           Kapal                      60.655.658.030   211.737.380.163                      -                         -    272.393.038.193                      Vessels
           Perabot dan instalasi                                                                                                           Office furniture and building
              bangunan kantor          1.777.711.596                   -                    -                         -      1.777.711.596               installations
           Peralatan kantor              251.044.156         22.000.000                     -                         -        273.044.156             Office equitment
           Kendaraan                     592.400.000                   -                    -                         -        592.400.000                       Vehicle
           Perlengkapan kantor           862.825.233                   -                    -                         -        862.825.233               Office supplies
           Peralatan kapal             6.571.699.124       1.364.300.355                    -                         -      7.935.999.479           Vessel equipment
           Docking                    26.457.204.193       6.543.616.926                    -                         -     33.000.821.119                      Docking
           Aset dalam                                                                                                                                   Construction in
              pembangunan             24.128.754.008                   -                                                    24.128.754.008                     progress

           Sub jumlah                121.297.296.340   219.667.297.444                      -                         -    340.964.593.784                    Sub total


           Akumulasi penyusutan                                                                                                            Accumulated depreciation
           Kepemilikan langsung                                                                                                                      Direct ownership

           Kapal                       9.782.564.324    12.737.412.792                      -                         -     22.519.977.116                      Vessels
           Perabot dan instalasi                                                                                                           Office furniture and building
              bangunan kantor            294.698.674        222.213.950                     -                         -        516.912.623               installations
           Peralatan kantor              203.727.822         57.582.962                     -                         -        261.310.784             Office equitment
           Kendaraan                      74.368.750         73.731.250                     -                         -        148.100.000                       Vehicle
           Perlengkapan kantor           235.053.682        213.372.808                     -                         -        448.426.490               Office supplies
           Peralatan kapal             3.074.940.817       1.664.971.258                                              -      4.739.912.075           Vessel equipment
           Docking                    11.131.493.668       5.828.738.591                    -                         -     16.960.232.259                      Docking

           Sub jumlah                 24.796.847.736    20.798.023.611                      -                         -     45.594.871.347                    Sub total

           Nilai tercatat             96.500.448.604                                                                       295.369.722.437         Net carrying value

           Penurunan nilai                         -       7.238.626.202                    -                         -      7.238.626.202

           Nilai tercatat neto        96.500.448.604                                                                       288.131.096.234         Net carrying value




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Annual and Sustainability Report 2025                                                    PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 246
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                            (Expressed in Rupiah unless otherwise stated)

11. ASET TETAP (lanjutan)                                                   11. FIXED ASSETS (continued)

    Pada tahun 2025, Perusahaan telah melakukan pembelian 1                     In 2025, the Company acquired one (1) vessel, Guna Nusa
    unit kapal Guna Nusa Hai Long 106 eks Hai Long 106                          Hai Long 106 (formerly Hai Long 106), for a purchase price
    sebesar USD 100.000.000 atau ekuivalen sebesar                              of USD 100,000,000 or equivalent to Rp1,672,320,000,000.
    Rp1.672.320.000.000

    Harga perolehan kapal per 31 Desember 2024 sebesar                          As of December 31, 2024, the acquisition cost of the
    Rp272.393.038.193 terdiri dari 1 Mother Vessel dan 5 kapal                  Company’s vessels amounted to Rp272,393,038,193,
    Tongkang.                                                                   comprising one Mother Vessel and five Barges.

    Pada tanggal 20 Februari 2025, Perusahaan juga melakukan                    On February 20, 2025, the Company disposed of fixed
    pelepasan 1 (satu) Unit Kapal Deck Barge bernama                            assets of 1 (one) Deck Barge Ship Unit named ("Cakrawala
    ("Cakrawala 3009") dengan harga jual sebesar                                3009") with a selling price of Rp11,000,000,000,- to PT
    Rp11.000.000.000,- kepada PT Wistara Internasional                          Wistara Internasional Maritim (Third Party) as stated in
    Maritim (Pihak ketiga) yang tertuang pada akta notaris No.                  notarial deed No. 57 dated 20 February 2025 of Ela Maria
    57 tanggal 20 Pebruari 2025 Ela Maria Fransisca, S.H.                       Fransisca, S.H, Notary in Palembang. The book value at
    Notaris di Palembang. Nilai buku pada saat pelepasan senilai                the time of disposal was Rp7,180,760.000 and the profit on
    Rp7.180.760.000      dan      laba     pelepasan     senilai                disposal was Rp3,819,240,000 (Note 29).
    Rp3.819.240.000 (Catatan 29)


    Rincian aset dalam pembangunan pada 31 Desember 2025                        Details of assets under construction as of December 31,
    dan 2024 adalah sebagai berikut:                                            2025 and 2024 are as follows:

                                             31 Desember 2025/              31 Desember 2024/
                                             December 31, 2025              December 31, 2024

    Kapal tugboat 2 Unit                            24.128.754.008              24.128.754.008                            Tugboats – 2 units

    Penurunan nilai                                 (18.094.633.431)            (7.238.626.202)                                  Impairment

    Jumlah                                           6.034.120.577              16.890.127.806                                          Total

    Manajemen berpendapat bahwa penyisihan penurunan nilai                      Management is of the opinion that the allowance for
    tersebut cukup untuk menutupi risiko penurunan nilai aset                   impairment is sufficient to cover the risk of impairment of
    dalam pembangunan.                                                          assets under construction.

    Beban penyusutan dialokasikan sebagai berikut:                              The allocation of depreciation expense is as follows:

                                             31 Desember 2025/              31 Desember 2024/
                                             December 31, 2025              December 31, 2024

    Beban pokok penjualan (catatan 27)              18.783.405.289              16.657.773.688                 Cost of goods sold (note 27)
    Beban usaha (catatan 28)                         6.751.410.645               4.140.249.992                 Operating expense (note 28)

    Jumlah                                          25.534.815.934              20.798.023.680                                          Total

    Manajemen Perusahaan telah mengkaji ulang atas estimasi                     The Company’s management reviews the estimates of
    umur ekonomis, metode penyusutan, dan nilai residu pada                     useful lives, depreciation methods, and residual values at
    setiap akhir periode pelaporan.                                             the end of each reporting period.




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244          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                         Laporan Tahunan dan Keberlanjutan 2025
Page 247
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                            PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                           NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                           For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                  (Expressed in Rupiah unless otherwise stated)

       11. ASET TETAP (lanjutan)                                                    11. FIXED ASSETS (continued)

           Perusahaan mengasuransikan 4 unit tongkang, 1 mother                           The Company insured five barges, one Mother Vessel and
           vessel dan 1 pipe layer sebesar Rp1.672.348.000.000 dan                        one pipe liyer with total coverage of Rp1,672,348,000.000
           USD 2.042.800.000 untuk marine hull dan protection &                           and USD 2,042,800,000 for marine hull and protection and
           indemnity . Manajemen berkeyakinan bahwa nilai                                 indemnity. Management believes that the insurance
           pertanggungan asuransi tersebut cukup untuk menutup                            coverage is adequate to cover all possible losses on the
           semua kemungkinan kerugian atas aset tetap yang                                insured fixed assets. The Company has no affiliated
           diasuransikan. Perusahaan tidak memiliki hubungan afiliasi                     relationship with the insurance companies.
           terhadap Perusahaan asuransi.

           Pada tanggal 31 Desember 2025 dan 2024, sebagian aset                          As of December 31, 2025, certain fixed assets were used
           tetap digunakan sebagai jaminan atas pinjaman bank dan                         as collateral for bank loans and finance lease liabilities
           utang pembiayaan (Catatan 22 dan 16).                                          (Notes 22 and 16).

           Pada tanggal 31 Desember 2025 dan 2024 tidak terdapat                          As of December 31, 2025 and 2024, there were no fully
           aset yang telah disusutkan penuh dan masih digunakan oleh                      depreciated assets that were still in use by the Company.
           Perusahaan.

           Pada tanggal 31 Desember 2025 dan 2024 tidak terdapat                          As of December 31, 2025 and 2024, there were no fixed
           aset tetap yang dihentikan dari penggunaan aktif dan tidak                     assets that were retired from active use and were not
           diklasifikasikan sebagai tersedia untuk dijual.                                classified as held for sale.

       12. ASET HAK GUNA                                                            12. RIGHT-OF-USE ASSET

                                                                 31 Desember 2025/ December 31, 2025
                                    Saldo awal/       Penambahan/          Pengurangan/           Penyesuaian/           Saldo akhir/
                                 Beginning balance      Addition             Deductions            Adjustment           Ending balance
           Harga perolehan                                                                                                                    Acquisition cost
           Bangunan kantor           9.949.236.502                     -                  -                         -      9.949.236.502         Office building
           Kapal                    20.020.567.420                     -     20.020.567.420                         -                    -             Vessels

           Sub jumlah               29.969.803.922                     -     20.020.567.420                         -      9.949.236.502              Subtotal

           Akumulas                                                                                                                               Accumulated
              penyusutan                                                                                                                       depreciation
           Bangunan kantor           3.005.498.525         1.243.654.561                  -                         -      4.249.153.086         Office building
           Kapal                     9.706.034.518          971.601.439      10.677.635.957                         -                    -             Vessels

           Sub jumlah               12.711.533.044         2.215.256.001     10.677.635.957                         -      4.249.153.086              Subtotal

           Nilai tercatat neto      17.258.270.878                                                                         5.700.083.416     Net carrying value

                                                                 31 Desember 2024/ December 31, 2024
                                    Saldo awal/       Penambahan/          Pengurangan/           Reklasifikasi/         Saldo akhir/
                                 Beginning balance      Addition             Deductions          Reclassification       Ending balance
           Harga perolehan                                                                                                                    Acquisition cost
           Bangunan kantor           9.949.236.502                     -                  -                         -      9.949.236.502         Office building
           Kapal                    20.020.567.420                     -                  -                         -     20.020.567.420               Vessels

           Sub jumlah               29.969.803.923                     -                  -                         -     29.969.803.922              Sub total

           Akumulas                                                                                                                               Accumulated
              penyusutan                                                                                                                       depreciation
           Bangunan kantor           1.761.843.963         1.243.654.562                  -                         -      3.005.498.525         Office building
           Kapal                     5.701.921.034         4.004.113.484                  -                         -      9.706.034.518               Vessels

           Sub jumlah                7.463.764.997         5.247.768.046                  -                         -     12.711.533.044              Sub total

           Nilai tercatat neto      22.506.038.926                                                                        17.258.270.878     Net carrying value




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Annual and Sustainability Report 2025                                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                       245
Page 248
PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

12. ASET HAK GUNA (lanjutan)                                             12. RIGHT-OF-USE ASSET (continued)

    Aset hak guna bangunan kantor merupakan sewa kantor                      The right-of-use asset of the office building represents the
    Perusahaan yang berlokasi di Gedung Sahid Sudirman                       Company’s office lease located at Sahid Sudirman Center
    Center dengan masa sewa selama 8 (delapan) tahun                         Building with a lease term of eight (8) years (Note 38).
    (Catatan 38).

    Aset hak guna kapal merupakan sewa kapal kepada PT                       The right-of-use asset of vessels represents the Company’s
    Mandala Armada Nusantara dengan masa sewa selama 5                       vessel lease from PT Mandala Armada Nusantara with a
    (lima) tahun (Catatan 38).                                               lease term of five (5) years (Note 38).

    Pada tahun 2025, Perusahaan melakukan pengakhiran                        In 2025, the Company terminated the ship lease agreement
    perjanjian sewa menyewa kapal dan dampak yang                            and recognized a gain of Rp1,088,722,855 in the current
    ditimbulkan diakui keuntungan sebesar Rp1.088.722.855                    year's income statement (Note 29).
    pada laba rugi tahun berjalan (Catatan 29).

    Beban penyusutan dialokasikan sebagai berikut:                           The allocation of depreciation expense is as follows:

                                             31 Desember 2025/           31 Desember 2024/
                                             December 31, 2025           December 31, 2024
    Beban pokok penjualan (Catatan 27)                971.601.439             4.004.113.484                 Cost of goods sold (Note 27)
    Beban usaha (Catatan 28)                        1.243.654.562             1.243.654.562                 Operating expense (Note 28)

    Jumlah                                          2.215.256.001             5.247.768.046                                          Total

13. UTANG USAHA                                                          13. ACCOUNT PAYABLES

                                             31 Desember 2025/           31 Desember 2024/
                                             December 31, 2025           December 31, 2024

    Pihak ketiga                                                                                                           Third parties
    Dollar Amerika Serikat                                                                                         United States Dollar
    LCH Insurance Broker Pte Ltd                      879.477.157                        -                LCH Insurance Broker Pte Ltd
    Linson Marine Far East Limited                    482.674.654                        -               Linson Marine Far East Limited
    Alfa Laval Singapore Pte. Ltd                      36.534.414               25.939.216                 Alfa Laval Singapore Pte. Ltd
    Sattech International Pte Ltd                      73.977.909                6.832.320                  Sattech International Pte Ltd
    Navios Control Services Pte Ltd                   432.657.078              227.114.722               Navios Control Services Pte Ltd
    Sub jumlah                                      1.905.321.212              259.886.258                                    Sub Total




                                                                    40




246          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 249
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                            (Expressed in Rupiah unless otherwise stated)

       13. UTANG USAHA (lanjutan)                                                 13. ACCOUNT PAYABLES (continued)

                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024

           Rupiah                                                                                                                        Rupiah
           PT Marcopolo Shipyard                             3.821.205.525                         -                     PT Marcopolo Shipyard
           PT SHA Solo                                       3.159.173.097             5.108.000.000                               PT SHA Solo
           PT IMC Ship Management                            1.402.133.160                         -                  PT IMC Ship Management
           PT Pelayaran "Athalla                                                                                           PT Pelayaran "Athalla
             Putra Cipunagara"                               1.197.440.000                         -                        Putra Cipunagara"
           PT Estika Jasatama                                  855.131.803                         -                         PT Estika Jasatama
           PT Cahaya Samoedera Bersaudara                      687.328.600               287.967.300         PT Cahaya Samoedera Bersaudara
           PT Karimun Energindo                                542.500.000                         -                      PT Karimun Energindo
           PT Pratama Vriesindo Lestari                        524.950.000               457.192.000                PT Pratama Vriesindo Lestari
           PT Nusantara Samudera Gemilang                      524.062.840               524.062.840          PT Nusantara Samudera Gemilang
           PT Jotun Indonesia                                  521.171.118                         -                         PT Jotun Indonesia
           PT Inco Global Nusantara                            512.525.850                         -                   PT Inco Global Nusantara
           PT Snepac Shiping                                   375.440.330                81.659.212                          PT Snepac Shiping
           PT Central Turbo                                    319.211.580                         -                           PT Central Turbo
           PT Mitra Teknik Ekspress                            318.452.330                         -                   PT Mitra Teknik Ekspress
           PT Fresnel Perdana Mandiri                          314.645.939               175.250.000                 PT Fresnel Perdana Mandiri
           PT Oceano Global Mandiri Maritim                     64.451.613               822.204.699          PT Oceano Global Mandiri Maritim
           PT Pancaran Samudera Shipyard                                 -             1.471.030.941           PT Pancaran Samudera Shipyard
           PT Mobil Energi Samudera                                      -             1.026.676.500                  PT Mobil Energi Samudera
           PT Tiga Berlian Asiana                                        -               539.999.904                      PT Tiga Berlian Asiana
           PT Tavisha Cahaya Energi                                      -               524.000.000                  PT Tavisha Cahaya Energi
           Lain-lain (Saldo di bawah Rp 300 Juta)            3.628.517.069             2.573.641.821       Others (Balance under Rp 300 Million)
           Sub jumlah                                       18.768.340.854            13.591.685.217                                   Sub total
           Jumlah                                           20.673.662.066            13.851.571.475                                       Total

           Pada tanggal 31 Desember 2025 dan 2024 tidak terdapat                      As of December 31, 2025 and 2024, there were no
           jaminan yang diberikan kepada pihak berelasi maupun pihak                  guarantees provided to related parties or third parties in
           ketiga atas utang usaha Perusahaan.                                        respect of the Company’s trade payables.

       14. UTANG LAIN-LAIN                                                        14. OTHER PAYABLES

           a.   Pihak ketiga                                                          a.   Third parties

                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024
                Jangka pendek                                                                                                         Short term
                Rupiah                                                                                                                    Rupiah
                Yafin Tandiono Tan                           3.500.000.000                        -                           Yafin Tandiono Tan
                Lain-lain                                       11.750.189                 11.750.189                                      Others

                Dollar Amerika Serikat                                                                                      United States Dollar
                Hilong Shipping Holding Limited                                                                   Hilong Shipping Holding Limited
                - (USD45.000.000)                          755.190.000.000                        -                           (USD45.000.000) -
                Sub jumlah                                 758.701.750.189                 11.750.189                                   Sub total




                                                                             41




Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                           247
Page 250
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)

14. UTANG LAIN-LAIN (lanjutan)                                             14. OTHER PAYABLES (continued)

    a.   Pihak ketiga (lanjutan)                                               a.    Third parties (continued)

                                             31 Desember 2025/             31 Desember 2024/
                                             December 31, 2025             December 31, 2024
         Jangka panjang                                                                                                          Long term
         Dollar Amerika Serikat                                                                                        United States Dollar
         Hilong Shipping Holding Limited                                                                     Hilong Shipping Holding Limited
         - (USD25.000.000)                          419.550.000.000                         -                            (USD25.000.000) -
         PT Saga Investama Sedaya                                                                                PT Saga Investama Sedaya
         - (USD12.500.000)                          209.775.000.000                         -                            (USD12.500.000) -
         Yafin Tandiono Tan                                                                                              Yafin Tandiono Tan
         - (USD11.000.000)                          184.602.000.000                         -                            (USD11.000.000) -
         PT Superkrane Mitra Utama Tbk                                                                       PT Superkrane Mitra Utama Tbk
         - (USD6.500.000)                           109.083.000.000                         -                              (USD6.500.000) -
         Sub jumlah                                 923.010.000.000                         -                                      Sub total
         Jumlah                                 1.681.711.750.189                    11.750.189                                        Total
    b.   Pihak berelasi                                                        b.    Related parties
                                             31 Desember 2025/             31 Desember 2024/
                                             December 31, 2025             December 31, 2024
         Jangka pendek                                                                                                         Short term
         Rupiah                                                                                                                   Rupiah
         PT Catur Dharma Anugrah Surya                1.419.000.000                 570.000.000             PT Catur Dharma Anugrah Surya

         Sub jumlah                                   1.419.000.000                 570.000.000                                        Total

         Jangka panjang                                                                                                        Long term
         Rupiah                                                                                                                   Rupiah
         PT Omudas Investment Holdco                 33.411.767.222            19.116.095.714                PT Omudas Investment Holdco
         PT Catur Dharma Anugrah Surya               17.500.000.000                       -                 PT Catur Dharma Anugrah Surya
         PT Mandala Armada Nusantara                              -             1.020.000.000                PT Mandala Armada Nusantara

         Sub jumlah                                  50.911.767.222            20.136.095.714                                      Sub total
         Jumlah                                      52.330.767.222            20.706.095.714                                          Total

    Utang lain-lain jangka pendek kepada Bapak Yafin Tandiono                  Other short-term debt to Mr. Yafin Tandiono Tan is debt
    Tan merupakan utang yang digunakan untuk operasional                       used for Company operations and must be repaid no later
    Perusahaan dan wajib dikembalikan paling lambat 28 Februari                than February 28, 2026.
    2026.
    Utang lain-lain jangka pendek kepada Hilong Shipping Holding               Other short-term debt to Hilong Shipping Holding Limited is
    Limited merupakan utang atas pembelian Kapal Hai Long 106                  debt for the purchase of the Hai Long 106 vessel in
    sesuai dengan Memorandum of Agreement tanggal 11                           accordance with the Memorandum of Agreement dated
    Agustus 2025 (Catatan 38).                                                 August 11, 2025 (Note 38).

    Promissory Note Hilong Shipping Holding Limited                            Promissory Note Hilong Shipping Holding Limited

    Pada tanggal 31 Oktober 2025, Perusahaan menandatangani                    On October 31, 2025, the Company signed a Promissory
    Perjanjian Promissory Note dengan Hilong Shipping Holding                  Note Agreement with Hilong Shipping Holding Limited. This
    Limited, Promissory Note ini dapat dikonversi menjadi saham,               Promissory Note can be converted into shares, with the
    dengan ketentuan sebagai berikut:                                          following conditions:




                                                                      42




248         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                            Laporan Tahunan dan Keberlanjutan 2025
Page 251
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                         PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                        For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

       14. UTANG LAIN-LAIN (lanjutan)                                                14. OTHER PAYABLES (continued)

           Promissory Note Hilong Shipping Holding Limited (lanjutan)                   Promissory Note Hilong Shipping Holding Limited
                                                                                        (continued)

           Jumlah pokok      : USD 25.000.000                                           Principal amount        : USD 25.000.000
           Tujuan penggunaan : Pembayaran uang muka untuk                               Purpose of the facility : Down payment for the purchase of
                               pembelian    kapal    Hailong      106                                             the Hailong 106 vessel based on
                               berdasarkan ketentuan Pasal 2 (ii) dari                                            the provisions of Article 2 (ii) of the
                               MOA.                                                                               MOA.
           Jangka waktu          : 12 bulan sejak tanggal perjanjian atau               Tenor                   : 12 months from the date of the
                                   tanggal lain disepakati secara tertulis                                        agreement or another date agreed
                                   oleh para pihak dengan jangka waktu                                            upon in writing by the parties with a
                                   selambat-lambatnya 60 bulan.                                                   maximum period of 60 months.
           Suku bunga            : 3% per tahun                                         Interest Rate        : At 3% per annum
           Saham konversi        :                                                      Convertible stock    :
                                                        Jumlah Pokok                                                         Principal Amount
                     Jumlah Saham konversi =            Harga Konversi                        Number of Convertible Shares:  Conversion Rate

           Pembayaran kembali:                                                          Repayment:
           i.    Pelunasan pada Tanggal Jatuh Tempo:                                    i.    Repayment on Maturity Date:

                 Pada tanggal jatuh tempo, Perusahaan wajib melunasi                          On the due date, the Company shall repay all principal
                 seluruh pokok dan bunga terutang kepada Kreditur secara                      and interest owed to the Creditor in cash. If the
                 tunai. Jika Perusahaan tidak dapat melunasi pada saat                        Company is unable to repay on the due date, or the
                 jatuh tempo, atau Para Pihak menyepakati pelunasan lebih                     Parties agree to early repayment through a conversion
                 awal melalui opsi konversi, maka Perusahaan wajib                            option, the Company shall notify the Creditor in
                 memberitahukan Kreditur sesuai ketentuan perjanjian.                         accordance with the provisions of the agreement. After
                 Setelah pemberitahuan tersebut, sisa utang dapat                             such notification, the remaining debt may be settled
                 diselesaikan melalui konversi menjadi saham Perusahaan                       through conversion into Company shares in
                 sesuai dengan syarat dan ketentuan yang berlaku.                             accordance with the applicable terms and conditions.

           ii.   Pelunasan dalam hal terjadinya Peristiwa Cedera Janji:                 ii.   Repayment upon Event of Default:

                 Peristiwa Cidera Janji, seluruh jumlah terutang                              In the event of a Default, the entire amount owed under
                 berdasarkan Perjanjian, termasuk pokok, bunga yang                           the Agreement, including principal, accrued interest,
                 telah jatuh tempo, dan kewajiban lainnya, menjadi jatuh                      and other obligations, shall become due and payable
                 tempo serta wajib segera dibayarkan. Jika Perusahaan                         immediately. If the Company is unable to pay in full, the
                 tidak dapat melunasi secara penuh, Perusahaan wajib                          Company shall notify the Creditor in accordance with
                 memberitahukan Kreditur sesuai ketentuan konversi, dan                       the conversion provisions, and at the Creditor's option,
                 atas pilihan Kreditur, sisa utang dapat diselesaikan melalui                 the remaining debt may be settled through conversion
                 konversi menjadi saham Perusahaan sesuai dengan                              into shares of the Company in accordance with the
                 ketentuan dalam Perjanjian.                                                  provisions of the Agreement.

           Pelunasan Lebih Awal Sukarela:                                               Voluntary Early Repayment:

           Perusahaan dapat melakukan pelunasan seluruh atau                            The Company may repay all or part of the loan before the
           sebagian pinjaman sebelum Tanggal Jatuh Tempo dengan                         Maturity Date by giving written notice at least 3 Business
           pemberitahuan tertulis paling lambat 3 Hari Kerja sebelumnya.                Days in advance. Early repayment is not subject to
           Pelunasan lebih awal tidak dikenakan denda atau premi,                       penalties or premiums, unless otherwise agreed, and
           kecuali disepakati lain, dan tidak dapat ditarik kembali.                    cannot be revoked. Partial repayment will reduce the
           Pelunasan sebagian akan mengurangi sisa pokok yang                           outstanding principal balance. In addition, prior to maturity,
           terutang. Selain itu, sebelum jatuh tempo, pinjaman atau                     the loan or part thereof may also be repaid through
           bagiannya juga dapat dilunasi melalui konversi menjadi Saham                 conversion into Convertible Shares in accordance with the
           Konversi sesuai ketentuan dalam Perjanjian                                   provisions of the Agreement.




                                                                                43




Annual and Sustainability Report 2025                                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                  249
Page 252
PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

14. UTANG LAIN-LAIN (lanjutan)                                            14. OTHER PAYABLES (continued)

    Promissory Note Hilong Shipping Holding Limited (lanjutan)               Promissory Note Hilong Shipping Holding Limited (continued)

    Jaminan yang diberikan adalah sebagai berikut:                           The guarantees provided are as follows:

    a.   Menandatangani Jaminan Perusahaan Induk (Parent                     a. Signing the Parent Company Guarantee (PCG)
         Company Guarantee/PCG )
    b.   Jumlah yang dijaminkan adalah sebesar USD 27.500.000                b. The amount guaranteed is USD 27,500,000.

    Kovenan Perjanjian ini adalah sebagai berikut:                           The terms of this Covenant are as follows:

    a.   Memelihara otorisasi dan kepatuhan                                  a. Maintain authorizations and compliance
    b.   Pemberitahuan atas cidera janji                                     b. Notification of default
    c.   Perlindungan hak dan kondisi keuangan                               c. Preservation of rights and financial condition

    Promissory Note Yafin Tandiono Tan                                       Promissory Note Yafin Tandiono Tan

    Pada tanggal 31 Oktober 2025, Perusahaan menandatangani                  On October 31, 2025, the Company signed a Promissory
    Perjanjian Promissory Note dengan Bapak Yafin Tandiono                   Note Agreement with Mr. Yafin Tandiono Tan. This
    Tan, Promissory Note ini dapat dikonversi menjadi saham,                 Promissory Note can be converted into shares, with the
    dengan ketentuan sebagai berikut:                                        following conditions:
    Jumlah pokok      : USD 11.000.000                                       Principal amount        : USD 11.000.000
    Tujuan penggunaan : Pembayaran uang muka untuk                           Purpose of the facility : Down payment for the purchase of
                        pembelian    kapal    Hailong      106                                         the Hailong 106 vessel based on
                        berdasarkan ketentuan Pasal 2 (ii) dari                                        the provisions of Article 2 (ii) of the
                        MOA.                                                                           MOA.
    Jangka waktu         : 12 bulan sejak tanggal perjanjian atau            Tenor                  : 12 months from the date of the
                           tanggal lain disepakati secara tertulis                                    agreement or another date agreed
                           oleh para pihak dengan jangka waktu                                        upon in writing by the parties with a
                           selambat-lambatnya 60 bulan.                                               maximum period of 60 months.
    Suku bunga           : 3% per tahun                                      Interest Rate       : At 3% per annum
    Saham konversi       :                                                   Convertible stock   :
                                               Jumlah Pokok                                                      Principal Amount
             Jumlah Saham konversi =           Harga Konversi                     Number of Convertible Shares:  Conversion Rate

    Pembayaran kembali:                                                      Repayment:
    i.   Pelunasan pada Tanggal Jatuh Tempo:                                 i.   Repayment on Maturity Date:

         Pada tanggal jatuh tempo, Perusahaan wajib melunasi                      On the due date, the Company shall repay all principal
         seluruh pokok dan bunga terutang kepada Kreditur secara                  and interest owed to the Creditor in cash. If the
         tunai. Jika Perusahaan tidak dapat melunasi pada saat                    Company is unable to repay on the due date, or the
         jatuh tempo, atau Para Pihak menyepakati pelunasan lebih                 Parties agree to early repayment through a conversion
         awal melalui opsi konversi, maka Perusahaan wajib                        option, the Company shall notify the Creditor in
         memberitahukan Kreditur sesuai ketentuan perjanjian.                     accordance with the provisions of the agreement. After
         Setelah pemberitahuan tersebut, sisa utang dapat                         such notification, the remaining debt may be settled
         diselesaikan melalui konversi menjadi saham Perusahaan                   through conversion into Company shares in
         sesuai dengan syarat dan ketentuan yang berlaku.                         accordance with the applicable terms and conditions.




                                                                     44




250         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                         Laporan Tahunan dan Keberlanjutan 2025
Page 253
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                         PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                        For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

       14. UTANG LAIN-LAIN (lanjutan)                                                14. OTHER PAYABLES (continued)

           Promissory Note Yafin Tandiono Tan (lanjutan)                                Promissory Note Yafin Tandiono Tan (continued)

           ii.   Pelunasan dalam hal terjadinya Peristiwa Cedera Janji:                 ii.   Repayment upon Event of Default:

                 Peristiwa Cidera Janji, seluruh jumlah terutang                              In the event of a Default, the entire amount owed under
                 berdasarkan Perjanjian, termasuk pokok, bunga yang                           the Agreement, including principal, accrued interest,
                 telah jatuh tempo, dan kewajiban lainnya, menjadi jatuh                      and other obligations, shall become due and payable
                 tempo serta wajib segera dibayarkan. Jika Perusahaan                         immediately. If the Company is unable to pay in full, the
                 tidak dapat melunasi secara penuh, Perusahaan wajib                          Company shall notify the Creditor in accordance with
                 memberitahukan Kreditur sesuai ketentuan konversi, dan                       the conversion provisions, and at the Creditor's option,
                 atas pilihan Kreditur, sisa utang dapat diselesaikan melalui                 the remaining debt may be settled through conversion
                 konversi menjadi saham Perusahaan sesuai dengan                              into shares of the Company in accordance with the
                 ketentuan dalam Perjanjian.                                                  provisions of the Agreement.

           Pelunasan Lebih Awal Sukarela:                                               Voluntary Early Repayment:

           Perusahaan dapat melakukan pelunasan seluruh atau                            The Company may repay all or part of the loan before the
           sebagian pinjaman sebelum Tanggal Jatuh Tempo dengan                         Maturity Date by giving written notice at least 3 Business
           pemberitahuan tertulis paling lambat 3 Hari Kerja sebelumnya.                Days in advance. Early repayment is not subject to
           Pelunasan lebih awal tidak dikenakan denda atau premi,                       penalties or premiums, unless otherwise agreed, and
           kecuali disepakati lain, dan tidak dapat ditarik kembali.                    cannot be revoked. Partial repayment will reduce the
           Pelunasan sebagian akan mengurangi sisa pokok yang                           outstanding principal balance. In addition, prior to maturity,
           terutang. Selain itu, sebelum jatuh tempo, pinjaman atau                     the loan or part thereof may also be repaid through
           bagiannya juga dapat dilunasi melalui konversi menjadi Saham                 conversion into Convertible Shares in accordance with the
           Konversi sesuai ketentuan dalam Perjanjian                                   provisions of the Agreement.


           Jaminan yang diberikan adalah sebagai berikut:                               The guarantees provided are as follows:

           a.    Menandatangani Jaminan Perusahaan Induk (Parent                        a. Signing the Parent Company Guarantee (PCG)
                 Company Guarantee/PCG )
           b.    Jumlah yang dijaminkan adalah sebesar USD 12.100.000                   b.    The amount guaranteed is USD 12,100,000.

           Kovenan Perjanjian ini adalah sebagai berikut:                               The terms of this Covenant are as follows:

           a.    Memelihara otorisasi dan kepatuhan                                     a. Maintain authorizations and compliance
           b.    Pemberitahuan atas cidera janji                                        b. Notification of default
           c.    Perlindungan hak dan kondisi keuangan                                  b. Preservation of rights and financial condition

           Pada tanggal 31 Oktober 2025, Perusahaan menandatangani                      On October 31, 2025, the Company signed a Promissory
           Perjanjian Promissory Note dengan PT Saga Investama                          Note Agreement with PT Saga Investama Sedaya. This
           Sedaya, Promissory Note ini dapat dikonversi menjadi saham,                  Promissory Note can be converted into shares, with the
           dengan ketentuan sebagai berikut:                                            following conditions:
           Jumlah pokok      : USD 12.500.000                                           Principal amount        : USD 12.500.000
           Tujuan penggunaan : Pembayaran uang muka untuk                               Purpose of the facility : Down payment for the purchase of
                               pembelian    kapal    Hailong      106                                             the Hailong 106 vessel based on
                               berdasarkan ketentuan Pasal 2 (ii) dari                                            the provisions of Article 2 (ii) of the
                               MOA.                                                                               MOA.
           Jangka waktu          : 12 bulan sejak tanggal perjanjian atau               Tenor                   : 12 months from the date of the
                                   tanggal lain disepakati secara tertulis                                        agreement or another date agreed
                                   oleh para pihak dengan jangka waktu                                            upon in writing by the parties with a
                                   selambat-lambatnya 60 bulan.                                                   maximum period of 60 months.




                                                                                45




Annual and Sustainability Report 2025                                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                  251
Page 254
PT CAKRA BUANA RESOURCES ENERGI TBK                                                          PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                         For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)

14. UTANG LAIN-LAIN (lanjutan)                                                14. OTHER PAYABLES (continued)

    Promissory Note PT Saga Investama Sedaya                                      Promissory Note PT Saga Investama Sedaya

    Suku bunga            : 3% per tahun                                          Interest Rate        : At 3% per annum
    Saham konversi        :                                                       Convertible stock    :
                                                 Jumlah Pokok                                                          Principal Amount
              Jumlah Saham konversi =            Harga Konversi                         Number of Convertible Shares:  Conversion Rate

    Pembayaran kembali:                                                           Repayment:
    i.    Pelunasan pada Tanggal Jatuh Tempo:                                     i.    Repayment on Maturity Date:

          Pada tanggal jatuh tempo, Perusahaan wajib melunasi                           On the due date, the Company shall repay all principal
          seluruh pokok dan bunga terutang kepada Kreditur secara                       and interest owed to the Creditor in cash. If the
          tunai. Jika Perusahaan tidak dapat melunasi pada saat                         Company is unable to repay on the due date, or the
          jatuh tempo, atau Para Pihak menyepakati pelunasan lebih                      Parties agree to early repayment through a conversion
          awal melalui opsi konversi, maka Perusahaan wajib                             option, the Company shall notify the Creditor in
          memberitahukan Kreditur sesuai ketentuan perjanjian.                          accordance with the provisions of the agreement. After
          Setelah pemberitahuan tersebut, sisa utang dapat                              such notification, the remaining debt may be settled
          diselesaikan melalui konversi menjadi saham Perusahaan                        through conversion into Company shares in
          sesuai dengan syarat dan ketentuan yang berlaku.                              accordance with the applicable terms and conditions.


    ii.   Pelunasan dalam hal terjadinya Peristiwa Cedera Janji:                  ii.   Repayment upon Event of Default:

          Peristiwa Cidera Janji, seluruh jumlah terutang                               In the event of a Default, the entire amount owed under
          berdasarkan Perjanjian, termasuk pokok, bunga yang                            the Agreement, including principal, accrued interest,
          telah jatuh tempo, dan kewajiban lainnya, menjadi jatuh                       and other obligations, shall become due and payable
          tempo serta wajib segera dibayarkan. Jika Perusahaan                          immediately. If the Company is unable to pay in full, the
          tidak dapat melunasi secara penuh, Perusahaan wajib                           Company shall notify the Creditor in accordance with
          memberitahukan Kreditur sesuai ketentuan konversi, dan                        the conversion provisions, and at the Creditor's option,
          atas pilihan Kreditur, sisa utang dapat diselesaikan melalui                  the remaining debt may be settled through conversion
          konversi menjadi saham Perusahaan sesuai dengan                               into shares of the Company in accordance with the
          ketentuan dalam Perjanjian.                                                   provisions of the Agreement.

    Pelunasan Lebih Awal Sukarela:                                                Voluntary Early Repayment:

    Perusahaan dapat melakukan pelunasan seluruh atau                             The Company may repay all or part of the loan before the
    sebagian pinjaman sebelum Tanggal Jatuh Tempo dengan                          Maturity Date by giving written notice at least 3 Business
    pemberitahuan tertulis paling lambat 3 Hari Kerja sebelumnya.                 Days in advance. Early repayment is not subject to
    Pelunasan lebih awal tidak dikenakan denda atau premi,                        penalties or premiums, unless otherwise agreed, and
    kecuali disepakati lain, dan tidak dapat ditarik kembali.                     cannot be revoked. Partial repayment will reduce the
    Pelunasan sebagian akan mengurangi sisa pokok yang                            outstanding principal balance. In addition, prior to maturity,
    terutang. Selain itu, sebelum jatuh tempo, pinjaman atau                      the loan or part thereof may also be repaid through
                                                                              `
    bagiannya juga dapat dilunasi melalui konversi menjadi Saham                  conversion into Convertible Shares in accordance with the
    Konversi sesuai ketentuan dalam Perjanjian                                    provisions of the Agreement.

    Jaminan yang diberikan adalah sebagai berikut:                                The guarantees provided are as follows:

    a.    Menandatangani Jaminan Perusahaan Induk (Parent                         a. Signing the Parent Company Guarantee (PCG)
          Company Guarantee/PCG )
    b.    Jumlah yang dijaminkan adalah sebesar USD 13.750.000                    b.    The amount guaranteed is USD 13,750,000.




                                                                         46




252          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                             Laporan Tahunan dan Keberlanjutan 2025
Page 255
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                         PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                        For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

       14. UTANG LAIN-LAIN (lanjutan)                                                14. OTHER PAYABLES (continued)

           Promissory Note PT Saga Investama Sedaya (lanjutan                           Promissory Note PT Saga Investama Sedaya (continued)

           Kovenan Perjanjian ini adalah sebagai berikut:                               The terms of this Covenant are as follows:

           a.    Memelihara otorisasi dan kepatuhan                                     a. Maintain authorizations and compliance
           b.    Pemberitahuan atas cidera janji                                        b. Notification of default
           c.    Perlindungan hak dan kondisi keuangan                                  b. Preservation of rights and financial condition

           Promissory Note PT Superkrane Mitra Utama Tbk                                Promissory Note PT Saga Investama Sedaya

           Pada tanggal 31 Oktober 2025, Perusahaan menandatangani                      On October 31, 2025, the Company signed a Promissory
           Perjanjian Promissory Note dengan PT Superkrane Mitra                        Note Agreement with PT Superkrane Mitra Utama Tbk. This
           Utama Tbk, Promissory Note ini dapat dikonversi menjadi                      Promissory Note can be converted into shares, with the
           saham, dengan ketentuan sebagai berikut:                                     following conditions:

           Jumlah pokok      : USD 12.500.000                                           Principal amount        : USD 12.500.000
           Tujuan penggunaan : Pembayaran uang muka untuk                               Purpose of the facility : Down payment for the purchase of
                               pembelian    kapal    Hailong      106                                             the Hailong 106 vessel based on
                               berdasarkan ketentuan Pasal 2 (ii) dari                                            the provisions of Article 2 (ii) of the
                               MOA.                                                                               MOA.
           Jangka waktu          : 12 bulan sejak tanggal perjanjian atau               Tenor                   : 12 months from the date of the
                                   tanggal lain disepakati secara tertulis                                        agreement or another date agreed
                                   oleh para pihak dengan jangka waktu                                            upon in writing by the parties with a
                                   selambat-lambatnya 60 bulan.                                                   maximum period of 60 months.
           Suku bunga            : 3% per tahun                                         Interest Rate        : At 3% per annum
           Saham konversi        :                                                      Convertible stock    :
                                                        Jumlah Pokok                                                         Principal Amount
                     Jumlah Saham konversi =            Harga Konversi                        Number of Convertible Shares:  Conversion Rate

           i.    Pelunasan pada Tanggal Jatuh Tempo:                                    i.    Repayment on Maturity Date:

                 Pada tanggal jatuh tempo, Perusahaan wajib melunasi                          On the due date, the Company shall repay all principal
                 seluruh pokok dan bunga terutang kepada Kreditur secara                      and interest owed to the Creditor in cash. If the
                 tunai. Jika Perusahaan tidak dapat melunasi pada saat                        Company is unable to repay on the due date, or the
                 jatuh tempo, atau Para Pihak menyepakati pelunasan lebih                     Parties agree to early repayment through a conversion
                 awal melalui opsi konversi, maka Perusahaan wajib                            option, the Company shall notify the Creditor in
                 memberitahukan Kreditur sesuai ketentuan perjanjian.                         accordance with the provisions of the agreement. After
                 Setelah pemberitahuan tersebut, sisa utang dapat                             such notification, the remaining debt may be settled
                 diselesaikan melalui konversi menjadi saham Perusahaan                       through conversion into Company shares in
                 sesuai dengan syarat dan ketentuan yang berlaku.                             accordance with the applicable terms and conditions.


           ii.   Pelunasan dalam hal terjadinya Peristiwa Cedera Janji:                 ii.   Repayment upon Event of Default:

                 Peristiwa Cidera Janji, seluruh jumlah terutang                              In the event of a Default, the entire amount owed under
                 berdasarkan Perjanjian, termasuk pokok, bunga yang                           the Agreement, including principal, accrued interest,
                 telah jatuh tempo, dan kewajiban lainnya, menjadi jatuh                      and other obligations, shall become due and payable
                 tempo serta wajib segera dibayarkan. Jika Perusahaan                         immediately. If the Company is unable to pay in full, the
                 tidak dapat melunasi secara penuh, Perusahaan wajib                          Company shall notify the Creditor in accordance with
                 memberitahukan Kreditur sesuai ketentuan konversi, dan                       the conversion provisions, and at the Creditor's option,
                 atas pilihan Kreditur, sisa utang dapat diselesaikan melalui                 the remaining debt may be settled through conversion
                 konversi menjadi saham Perusahaan sesuai dengan                              into shares of the Company in accordance with the
                 ketentuan dalam Perjanjian.                                                  provisions of the Agreement.




                                                                                47




Annual and Sustainability Report 2025                                                  PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                                  253
Page 256
PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

14. UTANG LAIN-LAIN (lanjutan)                                            14. OTHER PAYABLES (continued)

    Promissory Note PT Superkrane Mitra Utama Tbk (lanjutan)                 Promissory Note PT Saga Investama Sedaya (continued)

    Pembayaran kembali:                                                      Repayment:
    Pelunasan Lebih Awal Sukarela:                                           Voluntary Early Repayment:

    Perusahaan dapat melakukan pelunasan seluruh atau                        The Company may repay all or part of the loan before the
    sebagian pinjaman sebelum Tanggal Jatuh Tempo dengan                     Maturity Date by giving written notice at least 3 Business
    pemberitahuan tertulis paling lambat 3 Hari Kerja sebelumnya.            Days in advance. Early repayment is not subject to
    Pelunasan lebih awal tidak dikenakan denda atau premi,                   penalties or premiums, unless otherwise agreed, and
    kecuali disepakati lain, dan tidak dapat ditarik kembali.                cannot be revoked. Partial repayment will reduce the
    Pelunasan sebagian akan mengurangi sisa pokok yang                       outstanding principal balance. In addition, prior to maturity,
    terutang. Selain itu, sebelum jatuh tempo, pinjaman atau                 the loan or part thereof may also be repaid through
    bagiannya juga dapat dilunasi melalui konversi menjadi Saham             conversion into Convertible Shares in accordance with the
    Konversi sesuai ketentuan dalam Perjanjian                               provisions of the Agreement.

    Jaminan yang diberikan adalah sebagai berikut:                           The guarantees provided are as follows:

    a.   Menandatangani Jaminan Perusahaan Induk (Parent                     a. Signing the Parent Company Guarantee (PCG)
         Company Guarantee/PCG )
    b.   Jumlah yang dijaminkan adalah sebesar USD 7.150.000                 b.   The amount guaranteed is USD 7,150,000.

    Kovenan Perjanjian ini adalah sebagai berikut:                           The terms of this Covenant are as follows:

    a.   Memelihara otorisasi dan kepatuhan                                  a. Maintain authorizations and compliance
    b.   Pemberitahuan atas cidera janji                                     b. Notification of default
    c.   Perlindungan hak dan kondisi keuangan                               b. Preservation of rights and financial condition

    Tanggal Pembayaran Bunga Semua Promissory Notes :                        Interest Payment Date for All Promissory Notes:

    Debitur harus membayar bunga yang telah terakumulasi atas                The borrower shall pay accrued interest on the face value
    pinjaman pada hari terakhir dari setiap periode bunga. Apabila           on the last day of each interest period. If the borrower
    debitur membayar seluruh jumlah terutang dari pinjaman                   repays the entire outstanding balance of the face value
    sebelum tanggal jatuh tempo dan/atau memilih penyelesaian                before the maturity date and/or the leader choose to settle
    pinjaman dengan cara konversi, maka bunga tidak berlaku dan              face value by conversion, no interest will be changed and
    pinjaman akan dianggap dibayar lunas.                                    the face value will be considered fully paid.


    Utang lain-lain kepada PT Omudas Investment Holdco tidak                 Other payable to PT Omudas Investment Holdco are not
    ada perjanjian atas dana yang diberikan dan tidak dikenakan              subject to any agreement on the funds provided and do not
    bunga. Pelunasannya akan dilakukan sesuai dengan                         bear interest. Repayment will be made in accordance with
    kemampuan keuangan Perusahaan atau berdasarkan                           the Company's financial capabilities or based on mutual
    kesepakatan bersama para pihak.                                          agreement between the parties.

    Utang lain-lain kepada PT Catur Dharma Anugrah Surya                     On October 31, 2025, the Company signed a Promissory
    terdapat perjanjian pinjaman, Perusahaan menandatangani                  Note Agreement with PT Superkrane Mitra Utama Tbk. This
    Perjanjian     Pinjaman     Revolving    Loan    Facility                Promissory Note can be converted into shares, with the
    No.0004/LOA/CDAS-CBRE/XI/2025 tanggal 03 November                        following conditions:
    2025 dengan ketentuan sebagai berikut:




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254         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 257
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       14. UTANG LAIN-LAIN (lanjutan)                                           14. OTHER PAYABLES (continued)

           Promissory Note PT Superkrane Mitra Utama Tbk (lanjutan)                 Promissory Note PT Saga Investama Sedaya (continued)

           Jumlah plafond    : Rp 20.000.000.000                                    Plafond amount          : Rp 20.000.000.000
           Tujuan penggunaan : Menambah modal kerja untuk Kapal                     Purpose of the facility : Increasing working capital for the
                               milik Perusahaan                                                               Company's vessels
           Jangka waktu      : 3 tahun                                              Tenor                   : 3 years
           Suku bunga                                                               Interest Rate

           1.   Periode Bebas Bunga                                                 1. Grace Period

                Bebas bunga selama 24 bulan sejak tanggal penarikan                     Grace period for 24 months from the date of the first
                pertama pinjaman, seluruh jumlah Pinjaman yang ditarik                  loan withdrawal, the entire amount of the loan
                tidak dikenakan bunga.                                                  withdrawn is not subject to interest.

           2.   Pengenaan Bunga setelah Grace Period                                2. Interest Charged after Grace Period

                Terhitung sejak tahun ke-3 (ketiga) sejak tanggal                       Starting from the third year after the first withdrawal
                penarikan pertama, Pinjaman yang masih terutang                         date, outstanding loans will be subject to interest of 6%
                dikenakan bunga sebesar 6% per tahun.                                   per annum.

           3.   Prinsip Kewajaran Usaha                                             3. Business Fairness Principle

                Tingkat bunga ditetapkan berdasarkan prinsip kewajaran                  Interest rates are determined based on the principles of
                dan kelaziman usaha dengan mempertimbangkan praktik                     fairness and business norms, taking into account
                pasar dan ketentuan perpajakan yang berlaku.                            market practices and applicable tax regulations.

           Utang lain-lain kepada pihak berelasi merupakan kewajiban                Other payables to related parties represent liabilities arising
           yang timbul dari transaksi dengan pihak berelasi dan                     from transactions with related parties and are used to
           digunakan untuk mendukung kegiatan operasional                           support the Company’s operational activities.
           Perusahaan.

       15. BIAYA YANG MASIH HARUS DIBAYAR                                       15. ACCRUED EXPENSES

                                                    31 Desember 2025/           31 Desember 2024/
                                                    December 31, 2025           December 31, 2024

           Beban bunga pinjaman bank                        740.424.721                892.487.144                    Bank loan interest expense
           Sewa                                             135.000.000              4.742.400.000                                         Lease
           Lainnya                                          238.328.001                          -                                        Others

           Jumlah                                          1.113.752.722             5.634.887.144                                           Total

       16. UTANG PEMBIAYAAN                                                     16. FINANCING PAYABLE

                                                    31 Desember 2025/           31 Desember 2024/
                                                    December 31, 2025           December 31, 2024

           PT BCA Finance                                              -              167.570.850                                PT BCA Finance

           Jumlah                                                      -              167.570.850                                            Total

           Dikurangi bagian yang                                                                                                    Less current
             jatuh tempo dalam satu tahun                              -              167.570.850                    portion due within one year

           Bagian jangka panjang                                       -              167.570.850                             Long-term portion




                                                                           49




Annual and Sustainability Report 2025                                             PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                            255
Page 258
PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

16. UTANG PEMBIAYAAN (lanjutan)                                          16. FINANCING PAYABLE ( continued)

    Berdasarkan Perjanjian Pembiayaan No. 9768002024-PK-                     Based on Financing Agreement No. 9768002024-PK-001
    001, tanggal 9 Januari 2023, Entitas mengadakan perjanjian               dated January 9, 2023, the Entity entered into a financing
    pembiayaan dengan PT BCA Finance untuk pembelian 1 unit                  agreement with PT BCA Finance for the purchase of one
    mobil Toyota Fortuner 2.8 VRZ 4x2 A/T GR Sport sebesar                   unit of Toyota Fortuner 2.8 VRZ 4x2 A/T GR Sport vehicle
    Rp 592.400.000 dengan jangka waktu 36 bulan. Fasilitas                   amounting to Rp592,400,000 with a tenor of 36 months.
    pinjaman ini dibebani bunga tetap sebesar 7,09% per tahun.               This financing facility bears a fixed interest rate of 7.09%
    Fasilitas ini dijaminkan dengan aset terkait (Catatan 11).               per annum. The facility is secured by the related asset
                                                                             (Note 11).

17. PENDAPATAN DITERIMA DIMUKA                                           17. UNEARNED REVENUE

    Pendapatan diterima dimuka merupakan pendapatan yang                     Unearned revenue represents advance payments received
    diterima dimuka dari Pesewa pihak ketiga dalam bentuk                    from third-party lessees in Rupiah as of December 31, 2025
    Rupiah per 31 Desember 2025 dan 2024 sebesar Rp Nihil                    and 2024 amounting to Rp nil and Rp11,683,333,334
    dan Rp11.683.333.334.                                                    respectively.

18. UTANG JAMINAN                                                        18. SECURITY DEPOSIT

    Rincian utang jaminan adalah sebagai berikut:                            The details of security deposits payable are as follows:

                                             31 Desember 2025/           31 Desember 2024/
                                             December 31, 2025           December 31, 2024
    Pihak ketiga                                                                                                          Third parties
    Rupiah                                                                                                                       Rupiah
    PT SYS Petrolindo Utama                         3.690.000.000             4.350.000.000                   PT SYS Petrolindo Utama
    PT Halmahera Jaya Feronikel                       660.160.000             2.210.160.000              PT Halmahera Jaya Feronikel
    PT Mitra Bahari Internusa                         400.000.000               400.000.000                   PT Mitra Bahari Internusa
    PT Padas Mustapa Jaya                             100.000.000               100.000.000                    PT Padas Mustapa Jaya
    PT Dwi Jaya Samudera                              212.500.000                         -                     PT Dwi Jaya Samudera
    PT Vama Samudera Jaya                             650.000.000                         -                   PT Vama Samudera Jaya
    PT Wistara Internasional Maritim                            -             2.612.500.000             PT Wistara Internasional Maritim
    PT Sinar Wandiole Balikpapan                                -               100.000.000              PT Sinar Wandiole Balikpapan
    Jumlah                                          5.712.660.000             9.772.660.000                                         Total

    Utang jaminan merupakan jaminan deposit dari pelanggan               Security deposits payable represent refundable deposits
    atas sewa kapal kepada Perusahaan dengan masa sewa                   received from customers in relation to vessel leases with lease
    kurang dari atau sama dengan satu tahun.                             terms of less than or equal to one year.




                                                                    50




256          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 259
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       19. LIABILITAS SEWA                                                        19. LEASE LIABILITIES

                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024

           Kapal                                                                                                                      Vessels
           PT Mandala Armada Nusantara                                  -             11.196.423.270              PT Mandala Armada Nusantara

           Bangunan kantor                                                                                                       Office buiding
           PT Catur Dharma Anugerah Surya                  6.354.244.365               7.494.851.599           PT Catur Dharma Anugerah Surya

           Jumlah                                          6.354.244.365              18.691.274.869                                         Total

           Dikurangi : bagian jangka pendek                (1.221.476.287)            (5.241.383.211)                   Less: short-term portion

           Bagian jangka panjang                           5.132.768.079              13.449.891.658                           Long-term portion

           Liabilitas sewa kapal dan bangunan kantor merupakan                        Lease liabilities related to vessels and office building
           transaksi dengan pihak berelasi (Catatan 12 dan 30).                       represent transactions with related parties (Notes 12 and
                                                                                      30).

           Pembayaran liabilitas sewa minimum di masa mendatang,                      The future minimum lease liability payments and the
           serta nilai kini atas pembayaran minimum liabilitas sewa                   present value of the minimum lease liability payments as of
           pada tanggal 31 Desember 2025 dan 2024 adalah sebagai                      December 31, 2025 and 2024 are as follows:
           berikut:
                                                    31 Desember 2025/             31 Desember 2024/
                                                    December 31, 2025             December 31, 2024

           Sampai dengan satu tahun                        1.620.000.000               6.362.400.000                               Up to one year
           Lebih dari 1 tahun dan                                                                                           More than 1 year and
             kurang dari 5 tahun                           5.805.000.000              14.933.800.000                           less than 5 years
           Lebih dari 5 tahun                                                                      -                           More than 5 years
                                                           7.425.000.000              21.296.200.000
           Dikurangi :                                                                                                                    Less:
           Beban bunga yang belum jatuh tempo              (1.070.755.635)            (2.604.925.131)                 Unearned interest expense
           Nilai kini atas pembayaran                                                                                           Present value of
             minimum liabilitas sewa                       6.354.244.365              18.691.274.869                  minimum lease payments
           Dikurangi :                                                                                                                    Less:
           Bagian yang jatuh tempo                                                                                          Current portion due
             dalam waktu satu tahun                        (1.221.476.287)            (5.241.383.211)                           within one year
           Bagian jangka panjang                            5.132.768.079             13.449.891.658                         Long-term portion

       20. LIABILITAS IMBALAN PASCA KERJA                                         20. POST-EMPLOYMENT BENEFITS LIABILITIES

           Pada tanggal 31 Desember 2025 dan 2024, Perusahaan                         As of December 31, 2025 and 2024, the Company recorded
           mencatat liabilitas imbalan pasca kerja berdasarkan                        post-employment benefit liabilities based on the calculations
           perhitungan aktuaris independen, yaitu KKA Bambang                         of an independent actuary, namely KKA Bambang
           Sudradjad. Liabilitas imbalan pasca kerja dihitung dengan                  Sudradjad. Post-employment benefit liabilities are
           menggunakan metode “Projected Unit Credit” dan asumsi -                    calculated using the “Projected Unit Credit” method and the
           asumsi utama sebagai berikut:                                              following key assumptions:




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Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                            257
Page 260
PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                            (Expressed in Rupiah unless otherwise stated)

20. LIABILITAS IMBALAN PASCA KERJA (lanjutan)                               20. POST-EMPLOYMENT BENEFITS LIABILITIES (continued)

                                               31 Desember 2025/            31 Desember 2024/
                                               December 31, 2025            December 31, 2024

    Umur pensiun normal                              57 tahun                    57 tahun                           Normal retirement age
    Kenaikan gaji tahunan                             9,00%                       9,00%                            Annual salary increase
    Tingkat diskonto tahunan - Permanen               6,90%                       7,25%                  Annual discount rate – permanent
    Tingkat diskonto tahunan - Kontrak                4,73%                       6,57%                    Annual discount rate – contract
    Tingkat mortalitas                              TMI - 2019                  TMI - 2019                                   Mortality rate

    Beban imbalan kerja karyawan yang diakui di laporan laba                    The employee benefits expense recognized in the
    rugi dan penghasilan komprehensif lain adalah sebagai                       statements of profit or loss and other comprehensive
    berikut:                                                                    income is as follows:

                                               31 Desember 2025/            31 Desember 2024/
                                               December 31, 2025            December 31, 2024
    Biaya jasa kini                                      54.897.439                 63.307.889                      Normal retirement age
    Biaya bunga                                          14.522.153                 16.484.573                     Annual salary increase
    Biaya jasa lalu                                       2.746.304                  7.165.757           Annual discount rate – permanent

    Jumlah                                               72.165.896                 86.958.219                                        Total

    Mutasi nilai kini liabilitas imbalan kerja jangka panjang adalah            The reconciliation of the present value of the long-term
    sebagai berikut :                                                           employee benefits liabilities is as follows:

                                               31 Desember 2025/            31 Desember 2024/
                                               December 31, 2025            December 31, 2024

    Saldo awal                                          203.024.867               222.405.028                             Opening balance
    Biaya imbalan pasti yang                                                                            Defined benefit cost recognized in
      diakui pada laba rugi                              72.165.896                 86.958.219                                profit or loss
    Biaya yang diakui pada                                                                                             Cost recognized in
      penghasilan komprehensif lain                    (143.448.989)               (90.259.100)             other comprehensive income
    Pembayaran manfaat - normatif                       (26.612.103)               (16.079.280)                   Benefits paid – statutory

    Jumlah                                              105.129.671               203.024.867                                         Total

    Mutasi penghasilan komprehensif lain adalah sebagai berikut                 The reconciliation of other comprehensive income is as
    :                                                                           follows:
                                               31 Desember 2025/            31 Desember 2024/
                                               December 31, 2025            December 31, 2024

    Saldo awal                                           24.782.546               115.041.646                           Opening balance
    Biaya yang diakui pada                                                                                            Cost recognized in
      penghasilan komprehensif lain                    (143.448.989)               (90.259.100)             other comprehensive income

    Jumlah                                             (118.666.443)                24.782.546                                        Total




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258          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                        Laporan Tahunan dan Keberlanjutan 2025
Page 261
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       21. PERPAJAKAN                                                            21. TAXATION

           a.   Pajak dibayar dimuka                                                 a. Prepaid tax
                                                    31 Desember 2025/            31 Desember 2024/
                                                    December 31, 2025            December 31, 2024
                Pajak pertambahan nilai-neto                            -             1.484.550.922                          Net value added tax
                Jumlah                                                  -             1.484.550.922                                          Total

           b. Utang pajak                                                            b. Tax payables

                                                    31 Desember 2025/            31 Desember 2024/
                                                    December 31, 2025            December 31, 2024

                Pajak pertambahan nilai-neto                 622.605.282                           -                         Net value added tax
                  Pajak penghasilan:                                                                                                Income tax:
                    Pasal 21                                2.189.889.255              605.018.850                                  Article 21
                    Pasal 23                                   80.191.240                2.991.057                                  Article 23
                    Pasal 15                                   32.429.999               41.542.512                                  Article 15
                    Pasal 4 ayat 2                            224.348.116                6.471.444                                Article 4 (2)
                Jumlah                                      3.149.463.892              656.023.863                                          Total

           c.   Pajak Penghasilan Badan - Final                                      c. Corporate Income Tax – Final

                Perusahaan bergerak di bidang pelayaran yang                             The Company is engaged in the shipping business and
                dikenakan PPh pasal 15 final sebesar 1,2% dari                           is subject to final income tax pursuant to Article 15 at a
                peredaran bruto sesuai Keputusan Menteri Keuangan                        rate of 1.2% of gross turnover, in accordance with the
                No. 416/KMK.04/1996 tanggal 14 Juni 1996 dan SE-                         Minister of Finance Decree No. 416/KMK.04/1996
                29/PJ.4/1996 tanggal 13 Agustus 1996.                                    dated June 14, 1996 and Circular Letter No. SE-
                                                                                         29/PJ.4/1996 dated August 13, 1996.

                                                    31 Desember 2025/            31 Desember 2024/
                                                    December 31, 2025            December 31, 2024

                Pendapatan yang berhubungan                                                                                   Revenue related to
                  dengan persewaan kapal                   55.163.208.359            62.173.596.046                            vessel chartering
                Beban pajak                                                                                                       Final income
                  penghasilan final (1,2%)                   661.958.500               746.083.153                         tax expense (1.2%)

                Perhitungan pajak di atas menjadi dasar dalam                            The above tax calculations serve as the basis for the
                pengisian Surat Pemberitahuan Tahunan (“SPT”) yang                       filing of the Annual Tax Return (“SPT”) with the Tax
                disampaikan kepada Kantor Pajak.                                         Office.

           d. Beban Penghasilan Badan - Non Final                                    d. Corporate income tax expense – non-final
                Rekonsiliasi antara laba (rugi) sebelum pajak                            The reconciliation between profit (loss) before income
                penghasilan sebagaimana yang disajikan dalam laporan                     tax as presented in the statements of profit or loss and
                laba rugi dan penghasilan komprehensif lain dan                          other comprehensive income and the Company’s
                taksiran penghasilan kena pajak Perusahaan untuk                         estimated taxable income for the years ended
                tahun yang berakhir pada tanggal 31 Desember 2025                        December 31, 2025 and 2024 is as follows:
                dan 2024 adalah sebagai berikut:




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Annual and Sustainability Report 2025                                              PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                            259
Page 262
PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

21. PERPAJAKAN (lanjutan)                                                   21. TAXATION (continued)

    d. Beban Penghasilan Badan - Non Final (lanjutan)                           d. Corporate income tax expense – non-final (continued)
                                             31 Desember 2025/              31 Desember 2024/
                                             December 31, 2025              December 31, 2024

         Rugi sebelum pajak penghasilan                                                               Loss before income tax according to
           menurut laporan laba rugi dan                                                               the statements of profit or loss and
           penghasilan komprehensif lain            (69.692.986.099)           (50.915.311.736)              other comprehensive income
         Beda permanen                                                                                              Permanent differences:
           Pendapatan yang telah                                                                                       Income subject to
             dikenakan pajak final                  (55.163.208.359)           (62.173.596.046)                                  final tax
           Beban yang tidak dapat                                                                                         Non-deductible
             dikurangkan                             53.646.763.562             56.120.537.866                                 expenses
             Lainnya                                 18.752.824.455              9.466.285.757                                     Others
         Rugi kena pajak                            (52.456.606.442)           (47.502.084.159)                                      Tax loss

         Pajak kini                                               -                           -                                  Current tax

         Rugi kena pajak hasil rekonsiliasi tahun yang berakhir                     The taxable loss resulting from the fiscal reconciliation
         pada 31 Desember 2025 dan 2024 dan untuk tahun                             for the years ended December 31, 2025 and 2024 is
         yang berakhir pada tanggal tersebut menjadi dasar                          used as the basis for filing the annual corporate income
         dalam pengisian Surat Pemberitahuan Tahunan (SPT)                          tax returns (SPT).
         pajak penghasilan badan.

         Pada tahun 2025 dan 2024 sebagian besar pendapatan                         For the years 2025 and 2024, the majority of the
         Perusahaan dikenakan pajak yang bersifat final dan                         Company’s revenue is subject to final income tax and
         tidak terdapat perbedaan temporer signifikan, sehingga                     there are no significant temporary differences;
         Perusahaan tidak mengakui adanya pajak tangguhan.                          therefore, the Company does not recognize any
                                                                                    deferred tax.
    e.   Administrasi Pajak                                                     e. Tax administration

         Undang-Undang Perpajakan yang berlaku di Indonesia                         Indonesian tax laws stipulate that each company
         mengatur     bahwa     masing-masing      perusahaan                       calculates, determines, and pays its own tax liabilities
         menghitung, menetapkan dan membayar sendiri                                on an individual basis.
         besarnya jumlah pajak yang terutang secara individu.

         Berdasarkan Undang-Undang yang berlaku, Direktur                           Under the prevailing laws, the Directorate General of
         Jenderal Pajak (DJP) dapat menetapkan atau                                 Taxes (“DGT”) may assess or amend tax liabilities
         mengubah kewajiban pajak dalam jangka waktu                                within a certain period. For fiscal years 2007 and prior,
         tertentu. Untuk tahun pajak 2007 dan sebelumnya,                           such period is ten years from the date the tax becomes
         jangka waktu tersebut adalah sepuluh tahun sejak saat                      payable but not later than 2013, whereas for fiscal
         terutangnya pajak tetapi tidak lebih dari tahun 2013,                      years 2008 onwards, the period is five years from the
         sedangkan untuk tahun pajak 2008 dan seterusnya,                           date the tax becomes payable.
         jangka waktunya adalah lima tahun sejak saat
         terutangnya pajak.

         Pada Oktober 2021, Pemerintahan Indonesia                                  In October 2021, the Government of Indonesia enacted
         mengesahkan Undang-Undang No. 7 tahun 2021                                 Law No. 7 of 2021 on the Harmonization of Tax
         tentang harmonisasi peraturan perpajakan yang                              Regulations, which changed the corporate income tax
         mengubah tarif pajak penghasilan badan dari 20%                            rate from 20% to 22% for the fiscal year 2022 onwards.
         menjadi 22% untuk tahun 2022 dan seterusnya.




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260         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                          Laporan Tahunan dan Keberlanjutan 2025
Page 263
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                         PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                       NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                       For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)

       22. PINJAMAN BANK                                                           22. BANK LOANS

                                                    31 Desember 2025/              31 Desember 2024/
                                                    December 31, 2025              December 31, 2024
           PT Bank Rakyat Indonesia, Tbk                                                                             PT Bank Rakyat Indonesia, Tbk
            Fasilitas term loan                            179.000.000.000                              -                     Term Loan Facility
            Fasilitas KMK DF PT SHA Solo                     9.657.868.000                              -            KMK DF Facility of SHA Solo
           Sub jumlah                                      188.657.868.000                              -                                 Sub total

           PT Bank Mandiri (Persero), Tbk                                -            135.533.142.856                PT Bank Mandiri (Persero), Tbk
           Jumlah                                          188.657.868.000                              -                                      Total
           Biaya perolehan pinjaman yang                                                                                          Unamortized loan
             belum diamortisasi                             (1.474.879.500)              (378.982.930)                             origination costs
           Jumlah                                          187.182.988.500            135.154.159.926                                          Total
           Dikurangi bagian yang                                                                                          Less: Current portion due
             jatuh tempo dalam satu tahun                   17.017.591.627             21.223.542.259                              within one year
           Bagian jangka panjang                           170.165.396.873            113.930.617.666                            Long-term portion

           Pada tanggal 11 Juni 2025, Perusahaan memperoleh fasilitas                  On June 11, 2025, the Company obtained a credit facility
           kredit dari PT Bank Rakyat Indonesia Tbk berdasarkan Surat                  from PT Bank Rakyat Indonesia Tbk based on Credit
           Penawaran       Putusan     Kredit    Nomor      R.614/RO-                  Approval Offer Letter No. R.614/RO-JKT/COP/06/2025,
           JKT/COP/06/2025, dengan ketentuan sebagai berikut:                          with the following terms and conditions:

           Fasilitas Term Loan                                                         Term Loan Facility

           Plafond              :    Maksimal Rp180.000.000.000                        Plafond                 :   Up to Rp180,000,000,000
           Bentuk kredit        :    Non Revolving Maksimum Credit                     Type of credit          :   Non      Revolving      Maximum
                                     Overeenkost Menurun                                                           Decreasing Credit Facility
           Tujuan penggunaan :       Pembiayaan Kredit Transaksi untuk                 Purpose of the facility :   Transaction Credit Financing for
                                     General Purpose atas nama PT                                                  general purposes on behalf of PT
                                     Cakra Buana Resources Energi, Tbk.                                            Cakra Buana Resources Energi
                                                                                                                   Tbk.
           Jangka waktu         :    120 bulan terhitung sejak pencairan               Tenor                   :   120 months commencing from
                                     kredit.                                                                       the date of credit disbursement.
           Suku bunga           :    8% per tahun, dibayar efektif setiap              Interest Rate           :   At 8% per annum, payable
                                     bulan dan suku bunga reviewable                                               monthly on an effective basis,
                                     setiap saat.                                                                  and reviewable from time to time.
           Provisi              :    Rp.450.000.000           dibayarkan               Provision               :   To Rp450,000,000, payable in full
                                     sekaligus lunas sebelum akad kredit                                           in a lump sum prior to the
                                     ditandatangani.                                                               execution      of     the   Credit
                                                                                                                   Agreement.
           Biaya Administrasi :      Rp.50.000.000 dibayarkan sekaligus                Administration fee      :   To Rp50,000,000, payable in full
                                     lunas    sebelum    akad    kredit                                            in a lump sum prior to the
                                     ditandatangani.                                                               execution      of     the   Credit
                                                                                                                   Agreement.
           Denda/Pinalty        :    50% dari suku bunga yang berlaku                  Penalty                 :   50% of the applicable interest
                                     bila terjadi tunggakan pokok dan atau                                         rate in the event of overdue
                                     bunga.                                                                        principal and/or interest.




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Annual and Sustainability Report 2025                                                PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                              261
Page 264
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                             (Expressed in Rupiah unless otherwise stated)

22. PINJAMAN BANK (lanjutan)                                               22. BANK LOANS (continued)

    Fasilitas KMK DF PT SHA Solo                                              KMK DF Facility of SHA Solo

    Plafond              :    Maksimal Rp10.000.000.000                       Plafond                 :   Up to Rp10,000,000,000
    Bentuk kredit        :    Limit Kredit Maksimum Credit                    Type of credit              Fixed Maximum Credit Limit
    Tujuan penggunaan :       Pembiayaan yang hanya dapat dapat               Purpose of the facility :   Financing which may only be
                              digunakan untuk pembayaran atas                                             utilized for payments in respect of
                              pembelian produk yang dilakukan                                             purchases of products made by
                              oleh Distributor / Sub Distributor /                                        Distributors/ Sub Distributors/
                              Pelanggan kepada PT SHA Solo                                                Customers to PT SHA Solo
                              berdasarkan invoice/ delivery order /                                       based on invoices, delivery
                              purchase order / performa invoice                                           orders,       purchase      orders,
                              atau dokumen sejenis.                                                       proforma invoices, or similar
                                                                                                          documents.
    Jangka waktu         :    12 bulan sejak pencairan kredit.                Tenor                   :   12 months commencing from the
                                                                                                          date of credit disbursement.
    TOP BRI              :    Maksimal 180 hari sejak tanggal                 TOP BRI                 :   A maximum of 180 days from the
                              pencairan KMK DF untuk masing-                                              date of disbursement of the KMK
                              masing Sales Order atau Invoice.                                            DF for each Sales Order or
                                                                                                          Invoice.
    Suku Bunga           :    9% per tahun dan dibayark efektif               Interest Rate           :   At 9% per annum, payable
                              setiap bulan, suku bunga ini                                                monthly on an effective basis,
                              reviewable setiap saat.                                                     and reviewable from time to time.
    Provisi              :    Rp450.000.000 dibayarkan sekaligus              Provision               :   To Rp450,000,000, payable in full
                              lunas    sebelum    akad    kredit                                          in a lump sum prior to the
                              ditandatangani.                                                             execution   of    the    Credit
                                                                                                          Agreement.
    Biaya Administrasi :      Rp50.000.000 dibayarkan sekaligus               Administration fee      :   to Rp50,000,000, payable in full
                              lunas    sebelum    akad   kredit                                           in a lump sum prior to the
                              ditandatangani.                                                             execution    of   the    Credit
                                                                                                          Agreement.
    Denda/Pinalty        :    50% dari suku bunga yang berlaku                Penalty                 :   50% of the applicable interest
                              bila terjadi tunggakan pokok dan atau                                       rate in the event of overdue
                              bunga.                                                                      principal and/or interest.

    Agunan yang diberikan adalah sebagai berikut:                             The collateral provided is as follows:
    a. Piutang Usaha PT. Cakra Buana Resources Energi, Tbk -                  a. Account Receivables of PT. Cakra Buana Resources
        Posisi Laporan Keuangan Maret 2025 sebesar                                Energi, Tbk – Financial Statement Position as of March
        Rp9,281,941,741.                                                          2025 amount to Rp9,281,941,741.
    b.   Persediaan PT. Cakra Buana Resources Energi, Tbk                     b. Inventories of PT. Cakra Buana Resources Energi, Tbk
         (berupa bahan bakar) - Posisi Laporan Keuangan Maret                    (in the form of fuel) – Financial Statement Position as of
         2025 sebesar Rp5.716.711.416                                            March 2025 amount to Rp5,716,711,416.
    c.   1 - Kapal MV - Supramax "Majestic Laksono" Indonesia,                c   1 – Vessel MV Supramax 'Majestic Laksono',
         KR, 2010, LOA 189.99 m, LBP 185.00 m-An. PT Cakra                        Indonesia, KR, 2010, LOA 189.99 m, LBP 185.00 m –
         Buana Resources Energi, Tbk sesuai Grosse Akta                           Owned by PT Cakra Buana Resources Energi, Tbk,
         No.1968 No.196 Tanggal 05 Maret 2024 sebesar Rp                          according to Gross Tonnage Certificate No. 1968 / No.
         211.233.200.000                                                          196 dated March 5, 2024 amount to
                                                                                  Rp211,233,200,000.




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262           PT CAKRA BUANA RESOURCES ENERGI Tbk                                                         Laporan Tahunan dan Keberlanjutan 2025
Page 265
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

       22. PINJAMAN BANK (lanjutan)                                            22. BANK LOANS (continued)

           PT Bank Rakyat Indonesia, Tbk (lanjutan)                               PT Bank Rakyat Indonesia, Tbk (continued)

           Fasilitas KMK DF PT SHA Solo (lanjutan)                                KMK DF Facility of SHA Solo (continued )

           d.   1 - Kapal Tongkang -"GTO 395 Indonesia, BKI, 2007, LOA            d    1 – Barge 'GTO 395', Indonesia, BKI, 2007, LOA 91.5
                91.5 m, LBP-An. PT Cakra Buana Resources Energi, Tbk                   m, LBP – Owned by PT Cakra Buana Resources
                sesuai Grosse Akta No.23 Tanggal 21 November 2018                      Energi, Tbk, according to Gross Tonnage Certificate
                sebesar Rp16.970.000.000.                                              No. 23 dated November 21, 2018 amount to
                                                                                       RpRp16,970,000,000..
           e.   1 - Kapal Tongkang -"Cakrawala 3010" Indonesia, BKI,              e    1 – Barge 'Cakrawala 3010', Indonesia, BKI, 2007, LOA
                2007, LOA 91.45 m, LBP -An. PT Cakra Buana Resources                   91.45 m, LBP – Owned by PT Cakra Buana Resources
                Energi, Tbk sesuai Grosse Akta No.20 Tanggal 21                        Energi, Tbk, according to Gross Tonnage Certificate
                November 2018 sebesar Rp15.784.000.000.                                No. 20 dated November 21, 2018 amount to
                                                                                       Rp15,784,000,000.
           f.   1 - Kapal Tongkang -"Wecoy 1801" Indonesia, BKI, 2007,            f.   1 – Barge 'Wecoy 1801', Indonesia, BKI, 2007, LOA
                LOA 54.86 m, LBP - An. PT Cakra Buana Resources                        54.86 m, LBP – Owned by PT Cakra Buana Resources
                Energi, Tbk sesuai Grosse A kta No.22 Tanggal 21                       Energi, Tbk, according to Gross Tonnage Certificate
                November 2018 sebesar Rp12.804.000.000.                                No. 22 dated November 21, 2018 amount to
                                                                                       Rp12,804,000,000.
           g.   1 - Kapal Tongkang -"Matahari 3016" Indonesia, BKI,               g    1 – Barge 'Matahari 3016', Indonesia, BKI, 2008, LOA
                2008, LOA 91.45 m. LBP -An. PT Cakra Buana Resources                   91.45 m, LBP – Owned by PT Cakra Buana Resources
                Energi, Tbk sesuai Grosse Akta No.19 Tanggal 21                        Energi, Tbk, according to Gross Tonnage Certificate
                November 2018 sebesar Rp15.778.000.000.                                No. 19 dated November 21, 2018 amount to
                                                                                       Rp15,778,000,000.
           h.   Tanah dan Bangunan (Ruko) SHM No 3289 (Lt 2.200 m2)               h. Land and Building (Shop Houses) SHM No. 3289
                dan SHM No 02527 (lt 1.125) An. Andy Anto (Dalam                     (Land Area 2,200 m²) and SHM No. 02527 (Land Area
                proses balik nama menjadi atas nama PT Omudas                        1,125 m²) in the name of Andy Anto (in the process of
                Investment Holdco), Jl. Kol. MT Haryono (Lingkar Luar                being transferred to PT Omudas Investment Holdco),
                Pemalang) Desa Beji, Kecamatan Taman, Kabupaten                      located at Jl. Kol. MT Haryono (Outer Ring Pemalang),
                Pemalang, Jawa Tengah sebesar Rp8.191.500.000.                       Beji Village, Taman Subdistrict, Pemalang Regency,
                                                                                     Central Java amount to Rp8,191,500,000
           i.   Personal Guarantee an. Suminto Husin Giman                        i. A personal guarantee provided by Mr. Suminto Husin
                                                                                     Giman.
           j.   Personal Guarantee an. Suganto Gunawan                            j. A personal guarantee provided by Mr. Suganto
                                                                                     Gunawan.

           Syarat Kredit atau Covenant Pinjaman Bank antara lain :                The terms and conditions / covenants of the bank loan
                                                                                  include, among others:
           1.   PT Cakra Buana Resources Energi Tbk. Mengikatkan diri             1 PT Cakra Buana Resources Energi Tbk. Undertakes to
                kepada PT Bank Rakyat Indonesia Tbk, bahwa selama                 . PT Bank Rakyat Indonesia Tbk that, as long as the
                kredit belum dinyatakan lunas oleh PT Bank Rakyat                      credit has not been declared paid off by PT Bank
                Indonesia Tbk, Perusahaan wajib menjaga rasio keuangan                 Rakyat Indonesia Tbk, the Company shall maintain the
                sebagai berikut:                                                       following financial ratios:

                -   DER = Total Interest Bearing Debt/Equity = max. 2,5                -   DER = Total Interest Bearing Debt/Equity = max.
                    x                                                                      2,5 x
                -   EBITDA dan Laba Bersih Positif                                     -   Positif EBITDA and net profit.
                -   Aktiva Lancar - Hutang Lancar Positif                              -   Current assets minus current liabilities shall be
                                                                                           positive.
                -   EBITDA/Biaya Bunga = min 1,5                                       -   EBITDA / Interest Expense = min. 1.5 x




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

22. PINJAMAN BANK (lanjutan)                                               22. BANK LOANS (continued)

    PT Bank Rakyat Indonesia, Tbk (lanjutan)                                  PT Bank Rakyat Indonesia, Tbk (continued)

    Fasilitas KMK DF PT SHA Solo (lanjutan)                                   KMK DF Facility of SHA Solo (continued )

         Pada tanggal 31 Desember 2025, Perusahaan belum                          As of December 31, 2025, the Company had not
         memenuhi semua rasio di atas                                             complied with the DSCR and debt capacity ratios.


         Berdasarkan Surat Pemberitahuan Review Fasilitas Kredit                  Based on Credit Facility Review Notification Letter No.
         no.      B.32/RO.08-JKT/CBC/CMB/02/2026,       terhadap                  B.32/RO.08-JKT/CBC/CMB/02/2026, with respect to
         pemenuhan financial covenant lainnya, Perusahaan dapat                   the fulfillment of other financial covenants, the
         melakukan langkah-langkah perbaikan kinerja dan struktur                 Company may undertake performance improvement
         keuangan sehingga ketentuan yang telah disepakati dalam                  measures and financial restructuring initiatives to
         perjanjian kredit dapat terpenuhi pada Periode Laporan                   ensure that the covenants stipulated in the credit
         Keuangan Triwulanan dan akhir tahun Desember 2026                        agreement can be complied with in the Quarterly
         sesuai ketentuan yang berlaku.                                           Financial Reporting Period and at the financial year-
                                                                                  end in December 2026, in accordance with the
                                                                                  applicable provisions.

         Manajemen yakin bahwa belum terpenuhinya konvenan                        Management believes that the non-compliance with the
         tersebut tidak berpengaruh secara signifikan terhadap                    aforementioned covenant does not have a significant
         laporan keuangan per 31 Desember 2025                                    impact on the financial statements as of 31 December
                                                                                  2025.


    2.   Selama kredit belum lunas, tanpa persetujuan tertulis dari           2   As long as the credit has not been paid off, without
         PT Bank Rakyat Indonesia Tbk terlebih dahulu PT Cakra                .   prior written approval from PT Bank Rakyat Indonesia
         Buana Resources Energi Tbk. Tidak diperkenankan                          Tbk, PT Cakra Buana Resources Energi Tbk is not
         (negative covenant ):                                                    permitted (negative covenant):
         a   Melakukan tindakan merger dan penjualan asset                        a   To carry out corporate merger actions and the sale
         .   perusahaan.                                                          .   of company assets
         b   Melakukan perubahan pengurus perusahaan, struktur                    b   To carry out changes in company management,
         .   permodalan, dan melakukan penyertaan pada                            .   capital structure, and to make investments in other
             perusahaan lain                                                          companies.
         c   Melunasi hutang kepada pemegang saham atau                           c   To settle debts to shareholders, reduce
         .   menurunkan hutang pemegang saham/hutang afiliasi/                    .   shareholder/affiliate/company debts, and to extend
             hutang pada Perusahaan serta memberikan piutang                          receivables to shareholders, affiliates, or the
             kepada pemegang saham/ piutang afiliasi/piutang                          company without prior approval from the bank.
             pada persero tanpa seizin dari bank.
         d   Mengikatkan diri sebagai penjamin kepada pihak lain                  d   To act as guarantor for other parties and/or to
         .   dan atau menjaminkan kekayaan perusahaan kepada                      .   pledge the company's assets to third parties.
             pihak lain.
         e   Melakukan investasi atau penyertaan modal maupun                     e   To make investments or equity participation, as
         .   investasi pinjaman jangka panjang kepada pihak lain.                 .   well as long-term loan investments, in other
                                                                                      parties.




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264          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                      Laporan Tahunan dan Keberlanjutan 2025
Page 267
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       22. PINJAMAN BANK (lanjutan)                                             22. BANK LOANS (continued)

           PT Bank Rakyat Indonesia, Tbk (lanjutan)                                PT Bank Rakyat Indonesia, Tbk (continued)

           Fasilitas KMK DF PT SHA Solo (lanjutan)                                 KMK DF Facility of SHA Solo (continued )

               f.   Mengadakan transaksi dengan seseorang atau                         f    To conduct transactions with any individual or party
                    sesuatu pihak, dengan cara-cara yang berada di luar                .    in ways that are outside of normal and customary
                    praktek-praktek dan kebiasaan yang wajar dan                            practices, including purchasing at higher than
                    melakukan pembelian yang lebih mahal dan                                market prices and selling at lower than market
                    melakukan pendapatan lebih murah dari harga pasar.                      prices.
               g    Melakukan perluasan usaha dan penjualan asset                      g    To carry out business expansion and the sale of
               .    perusahaan yang dapat mengganggu cashflow usaha                    .    company assets that may disrupt the customer’s
                    Nasabah dalam jangka waktu 1 tahun.                                     cash flow within a one-year period.
               h    Mengajukan permohonan pernyataan pailit kepada                     h    To file a petition for a bankruptcy declaration with
               .    Pengadilan Niaga untuk menyatakan pailit diri                      .    the Commercial Court to declare the customer
                    Nasabah sendiri.                                                        itself bankrupt.
               i.   Menyewakan aset yang diagunkan di BRI kepada                       i    To lease assets pledged to BRI to other parties
                    pihak lain tanpa izin dari pihak BRI.                              .    without the prior consent of BRI.

               Pada tanggal 31 Desember 2025, Perusahaan telah                         On December 31, 2025, the Company had utilized this
               menggunakan fasilitas pinjaman ini sebesar Rp                           loan facility in the amount of Rp189,657,868,000.
               189.657.868.000.

           Kredit Term Loan II                                                     Term Loan II Credit

           Pada tanggal 31 Oktober 2025, Perusahaan memperoleh                     On October 31, 2025, the Company obtained a credit facility
           fasilitas Kredit dari PT Bank Rakyat Indonesia, Tbk                     from PT Bank Rakyat Indonesia, Tbk pursuant to Deed No.
           berdasarkan Akta No.128.- Notaris Dr Abraham Yazdi Martin.              128 drawn up by Dr.Abraham Yazdi Martin, S.H., M.Kn.,
           S.H., M.Kn., dengan ketentuan sebagai berikut:                          under the following terms and conditions:

           Plafond               : Maksimal USD 49.000.000                         Plafond                 : Up to USD 49.000.000
           Bentuk kredit         : Kredit Modal Kerja Non Rekening Koran           Type of credit          : Non-Overdraft Working Capital
                                   Maksimum       Credit    Overeenkost                                      Credit – Maximum Decreasing
                                   Menurun                                                                   Credit Overeenkomst
           Tujuan penggunaan : General Purpose termasuk dalam                      Purpose of the facility : For general purposes, including the
                               rangkaakuisisi Kapal Hilong 106 dan                                           acquisition of the Hilong 106 vessel
                               Biaya Operasional PT Cakra Buana                                              and the operational expenses of PT
                               Resources Energi, Tbk.                                                        Cakra Buana Resources Energi
                                                                                                             Tbk.
           Jangka waktu          : 90 bulan terhitung sejak pencairan              Tenor                   : For a period of 90 months
                                   kredit.                                                                   commencing from the date of credit
                                                                                                             disbursement.
           Periode Ketersediaan: 12     bulan      sejak       tanggal             Availability Period     : For a period of 12 months
                                 penandatanganan Perjanjian Kredit.                                          commencing from the date of
                                                                                                             execution of the Credit Agreement.
           Suku bunga            : 8% per tahun, dibayar efektif setiap            Interest Rate           : At 8% per annum, payable monthly
                                   bulan dan suku bunga dapat berubah                                        on an effective basis, and subject
                                   sewaktu-sewaktu.                                                          to change from time to time.




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Annual and Sustainability Report 2025                                             PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 268
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

22. PINJAMAN BANK (lanjutan)                                               22. BANK LOANS (continued)

    PT Bank Rakyat Indonesia, Tbk (lanjutan)                                  PT Bank Rakyat Indonesia, Tbk (continued)

    Kredit Term Loan II (lanjutan)                                            Term Loan II Credit (continued)

    Provisi              : 0,25% dari limit kredit dibayar lunas              Provision              : 0.25% of the credit limit, payable in
                           paling lambat sebelum akad kredit                                           full no later than prior to the
                                                                                                       execution of the Credit Agreement.
    Biaya Administrasi : Rp115.000.000 dibayarkan lunas                       Administration fee     : Rp115,000,000, payable in full prior
                         sebelum akad kredit ditandatangi                                              to the execution of the Credit
                                                                                                       Agreement.
    Biaya Konsultasi     : Rp200.000.000                                      Consultancy fee        : Rp200,000,000
    Denda/Pinalty        : 50% dari suku bunga yang berlaku                   Penalty                : 50% of the applicable interest rate
                           apabila ada tunggakan pokok dan atau                                        in the event of overdue principal
                           bunga                                                                       and/or interest.

    Agunan yang diberikan adalah sebagai berikut:                             The collateral provided is as follows:

    a.   Tagihan kontrak sewa kapal Offshore Drilling Support                 a. Lease contract receivable for the Offshore Drilling
         Vessel jenis Pipa Laying and Lifting Vessel Hilong 106                  Support Vessel, namely a Pipe Laying and Lifting
         dari PT Gunanusa Utama Fabricators                                      Vessel “Hilong 106”, from PT Gunanusa Utama
                                                                                 Fabricators.
    b.   Kapal Offshore Drilling Support Vessel jenis Laying and              b. The Offshore Drilling Support Vessel, a Laying and
         Lifting Vessel Hilong 106 dalam bentuk hipotik yang dibuat              Lifting Vessel “Hilong 106”, pledged under a notarized
         secara Notariil                                                         mortgage.
    c.   Corporate Guarantee dan Letter of Undertaking atas                   c.   A Corporate Guarantee and a Letter of Undertaking
         nama PT Saga Sedaya Investama                                             issued by PT Saga Sedaya Investama.
    d    Personal Guarantee an. Suminto Husin Giman.                          d.   A personal guarantee provided by Mr. Suminto Husin
                                                                                   Giman.
    e    Personal Guarantee an. Suganto Gunawan.                              e.   A personal guarantee provided by Mr. Suganto
                                                                                   Gunawan.

    Syarat kredit atau kovenan pinjaman bank antara lain:                      The terms and conditions of the bank loan (loan
                                                                               covenants), among others, are as follows:
    1.   PT Cakra Buana Resources Energi Tbk. Mengikatkan diri                1. PT Cakra Buana Resources Energi Tbk has
         kepada PT Bank Rakyat Indonesia Tbk, bahwa selama                         undertaken to PT Bank Rakyat Indonesia Tbk that, as
         kredit belum dinyatakan lunas oleh PT Bank Rakyat                         long as the loan has not been declared fully settled by
         Indonesia Tbk, berjanji dan menyanggupi untuk menjaga                     PT Bank Rakyat Indonesia Tbk, it shall undertake and
         rasio keuangan PT Cakra Buana Resources Energi Tbk                        agree to maintain the financial ratios of PT Cakra
         sebagai berikut:                                                          Buana Resources Energi Tbk as follows:
         - DSCR = EBITDA/(Interest expense + Current Portion                       - Debt Service Coverage Ratio (DSCR) = EBITDA /
              Long Term Debt Liabilities ) = min. 1 x (sejak tahun                     (interest expense + current portion of long-term
              2025 dan seterusnya)                                                     debt liabilities), with a minimum requirement of 1.0x
                                                                                       starting from 2025 and thereafter.
         -    DER = Total Interest Bearing Debt/Equity = max. 2,5                  - DER = Total Interest Bearing Debt/Equity = max.
              x                                                                        2,5 x
         -    EBITDA dan Laba Bersih Positif                                       - Positif EBITDA and net profit.
         -    Aktiva Lancar - Hutang Lancar Positif                                - Current assets - current liabilities shall be positive.

         Pada tanggal 31 Desember 2025, Perusahaan belum                           As of December 31, 2025, the Company had not
         memenuhi semua rasio di atas.                                             complied with the DSCR and debt capacity ratios.




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266           PT CAKRA BUANA RESOURCES ENERGI Tbk                                                       Laporan Tahunan dan Keberlanjutan 2025
Page 269
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                    For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       22. PINJAMAN BANK (lanjutan)                                               22. BANK LOANS (continued)

           PT Bank Rakyat Indonesia, Tbk (lanjutan)                                  PT Bank Rakyat Indonesia, Tbk (continued)

           Kredit Term Loan II (lanjutan)                                            Term Loan II Credit (continued)

                Terhadap pemenuhan financial covenant lainnya, PT                         With respect to the fulfillment of other financial
                CBRE dapat melakukan langkah-langkah perbaikan                            covenants, PT CBRE may undertake performance
                kinerja dan struktur keuangan sehingga ketentuan yang                     improvement measures and financial restructuring
                telah disepakati dalam perjanjian kredit dapat terpenuhi                  initiatives to ensure that the covenants stipulated in the
                pada Periode Laporan Keuangan Triwulanan dan akhir                        credit agreement can be complied with in the Quarterly
                tahun Desember 2026 sesuai ketentuan yang berlaku.                        Financial Reporting Period and at the financial year-
                                                                                          end in December 2026, in accordance with the
                                                                                          applicable provisions.

                Manajemen yakin bahwa belum terpenuhinya konvenan                         Management believes that the non-compliance with the
                tersebut tidak berpengaruh secara signifikan terhadap                     aforementioned covenant does not have a significant
                laporan keuangan per 31 Desember 2025                                     impact on the financial statements as of December 31,
                                                                                          2025.

           2.   Selama kredit belum lunas, tanpa persetujuan tertulis dari           2.   For so long as the loan remains outstanding, and
                PT Bank Rakyat Indonesia Tbk terlebih dahulu PT Cakra                     without the prior written approval of PT Bank Rakyat
                Buana Resources Energi Tbk. Tidak diperkenankan                           Indonesia Tbk, PT Cakra Buana Resources Energi
                (negative covenant ):                                                     Tbk shall not (negative covenants):
                a.   Melakukan penjualan aset perusahaan senilai lebih                    a. To dispose of the Company’s assets with a value
                     dari 50%.                                                               exceeding 50%.
                b.   Melakukan perubahan Anggaran Dasar Perusahaan,                       b. To amend the Company’s Articles of Association,
                     kecuali melakukan perubahan pengurus Perusahaan,                        except for changes in the Company’s
                     perubahan pemegang saham, permodalan yang                               management, changes in shareholders, or
                     menyebabkan change of control, maka cukup                               changes in capital structure resulting in a change
                     memberitahukan secara tertulis kepada Bank                              of control, in which case the Company is only
                     maksimum 30 (tiga puluh) hari kalender sejak tanggal                    required to notify the Bank in writing no later than
                     keputusan RUPS.                                                         30 (thirty) calendar days from the date of the GMS
                                                                                             resolution.
                c.   Melunasi atau menurunkan hutang pemegang                             c. To repay or reduce shareholder loans, affiliated
                     saham/hutang afiliasi/subordinated loan selain                          party loans, and/or subordinated loans, other than
                     dikonversi menjadi modal sebelum kredit bank lunas.                     those converted into equity, prior to the full
                                                                                             settlement of the Bank’s credit facility.
                d.   Mengikatkan diri sebagai penjamin kepada pihak lain                  d. to act as a guarantor for other parties and/or to
                     dan atau menjaminkan kekayaan perusahaan kepada                         pledge the Company’s assets to other parties.
                     pihak lain.
                e.   Memperoleh fasilitas kredit atau pinjaman dari bank                  e. To obtain credit facilities or loans from banks or
                     atau lembaga keuangan lainnya.                                          other financial institutions.
                f.   Mengajukan permohonan pernyataan pailit kepada                       f. To file a petition for a declaration of bankruptcy
                     Pengadilan Niaga untuk menyatakan pailit dari                           with the Commercial Court in respect of the
                     Nasabah sendiri.                                                        Customer itself.

           Pada tanggal 31 Desember 2025, Perusahaan belum                           As of December 31, 2025, the Company has not made any
           melakukan penarikan atas fasilitas kredit yang diperoleh dari             drawdowns on the credit facility obtained from the bank;
           bank, sehingga tidak terdapat saldo pinjaman terutang terkait             therefore, there is no outstanding loan balance related to
           fasilitas tersebut                                                        such facility.




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Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                             267
Page 270
PT CAKRA BUANA RESOURCES ENERGI TBK                                                       PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                               (Expressed in Rupiah unless otherwise stated)

22. PINJAMAN BANK (lanjutan)                                                 22. BANK LOANS (continued)

    PT Bank Mandiri (Persero) Tbk                                               PT Bank Mandiri (Persero) Tbk

    Fasilitas Kredit Investasi                                                  Investment Credit Facilities

    Pada tanggal 09 November 2023, Perusahaan memperoleh                        On November 9, 2023, the Company obtained a credit
    fasilitas Kredit dari PT Bank Mandiri (Persero) Tbk berdasarkan             facility from PT Bank Mandiri (Persero) Tbk pursuant to
    Akta No. 35.Notaris Toki Thomas. S.H., M.Kn., dengan                        Deed No. 35 drawn up by Notary Toki Thomas, S.H., M.Kn.,
    ketentuan sebagai berikut:                                                  under the following terms and conditions:
    Limit kredit              Maksimal Rp166.000.000.000                        Credit limit                  Up to Rp166,000,000,000
    Jenis kredit              Kredit investasi                                  Type of credit                Investment loan
    Sifat kredit              Non Revolving, committed , dan                    Credit nature                 Non Revolving, committed, dan
                              Advised                                                                         Advised
    Tujuan penggunaan         Pembiayaan 1 unit Kapal bulk Carrier              Purpose of the facility       Financing of one (1) bulk carrier
                              "Seacon Dalian"                                                                 vessel, “Seacon Dalian”.
    Jangka waktu         :    87 bulan terhitung mulai tanggal                  Tenor                     :   For a period of 87 months
                              penandatangan perjanjian kredit                                                 commencing from the signing
                              termasuk grace period selama 3                                                  date of the credit agreement,
                              bulan.                                                                          including a grace period of 3
                                                                                                              months.
    Suku bunga           :    9% per tahun, dibayar efektif setiap              Interest Rate             :   At 9% per annum, payable on an
                              bulan pada tanggal 5 dan suku                                                   effective monthly basis on the 5th
                              bunga dapat berubah sewaktu-                                                    day of each month, subject to
                              sewaktu.                                                                        change from time to time.
    Provisi              :    0,25% dari limit kredit yang ditarik              Provision            :        0.25% of the utilized credit limit
    Annual servicing fee :    0,15% dari nominal oustanding                     Annual servicing fee :        0.15% per annum of the
                              fasilitas kredit                                                                outstanding credit facility
    Biaya administrasi :      Rp50.000.000                                      Administration fee        :   Rp50,000,000

    Perusahaan telah membayar lunas fasilitas pinjaman ini,                     The company has paid off this loan facility in full, so there is
    sehingga tidak terdapat saldo pinjaman terutang terkait fasilitas           no outstanding loan balance related to this facility in
    tersebut    sesuai     dengan      Surat   Keterangan        No.            accordance with Certificate No. CM1.MKS/MRW/746/2025
    CM1.MKS/MRW/746/2025 yang dikeluarkan oleh PT Bank                          issued by PT Bank Mandiri (Persero) Tbk on August 21,
    Mandiri (Persero) Tbk tanggal 21 Agustus 2025.                              2025.
    Agunan yang diberikan adalah sebagai berikut:                               The collateral provided is as follows:
    a. 1 unit kapal MV Majestic Laksono dh. MV Secon Dalian,                    a. One (1) vessel, MV Majestic Laksono (formerly known
        dengan bukti grosse akta a.n PT Cakra Buana Resources                       as MV Seacon Dalian), evidenced by a grosse deed in
        Energi    Tbk,     yang     diikat    hipotik    sebesar                    the name of PT Cakra Buana Resources Energi Tbk,
        Rp222.227.000.000 atau sebesar nilai realisasi transaksi                    secured by a mortgage in the amount of
        yang tercantum dalam MoA.                                                   Rp222,227,000,000 or equivalent to the transaction
                                                                                    realization value as stated in the MoA.
    b.   4 kapal eksisting yakni TK. Cakrawala 3009, TK.                        b. Four (4) existing vessels, namely TK. Cakrawala 3009,
         Cakrawala 3010, TK. Matahari 3016 dan TK. GTO 395                          TK. Cakrawala 3010, TK. Matahari 3016, and TK. GTO
         yang akan diikat hipotek dengan total nilai pengikatan                     395, to be secured by mortgages with an aggregate
         sebesar Rp64.316.000.000.                                                  secured value of Rp64,316,000,000.
    c.   Gadai Saham PT Cakra Buana Resources Energi Tbk                        c. A share pledge over 2,774,000,000 shares in PT Cakra
         sebesar 2.774.000.000 lembar saham yang dimiliki oleh                      Buana Resources Energi Tbk held by PT Omudas
         PT Omudas Investment Holdco.                                               Investment Holdco.




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268          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                              Laporan Tahunan dan Keberlanjutan 2025
Page 271
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                     PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                     For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                           (Expressed in Rupiah unless otherwise stated)

       22. PINJAMAN BANK (lanjutan)                                               22. BANK LOANS (continued)

           PT Bank Mandiri (Persero) Tbk (lanjutan)                                  PT Bank Mandiri (Persero) Tbk (continued)

           Fasilitas Kredit Investasi (lanjutan)                                     Investment Credit Facilities (continued)

           d.   Gadai Saham PT Cakra Buana Resources Energi Tbk                      d.   A share pledge over 513,000,000 shares in PT Cakra
                sebesar 513.000.000 lembar saham yang dimiliki oleh PT                    Buana Resources Energi Tbk held by PT Republic
                Republic Capital Indonesia.                                               Capital Indonesia.
           e.   Tanah & Bangunan yang berada di JI. Kol. MT. Haryono,                e.   Land and buildings located at Jl. Kol. MT. Haryono, Beji
                Desa Beji, Kecamatan Taman, Kabupaten Pemalang,                           Village, Taman District, Pemalang Regency, Central
                Jawa Tengah akan dikat Hak Tanggungan dengan nilai                        Java, to be secured under a Hak Tanggungan (land
                Rp8.000.000.000, paling lambat 3 (tiga) bulan setelah                     mortgage) with a value of Rp8,000,000,000, no later
                penandatanganan Perjanjian Kredit.                                        than three (3) months after the signing of the Credit
                                                                                          Agreement.
           f.   Personal Guarantee an. Suminto Husin Giman.                          f.   A personal guarantee provided by Mr. Suminto Husin
                                                                                          Giman.
           g.   Personal Guarantee an. Suganto Gunawan.                              g.   A personal guarantee provided by Mr. Suganto
                                                                                          Gunawan.

           Syarat Kredit/Covenant Pinjaman Bank antara lain :                         The terms and conditions / covenants of the bank loan
                                                                                      include, among others:
           1.   PT Cakra Buana Resources Energi Tbk. Mengikatkan diri                1. PT Cakra Buana Resources Energi Tbk has
                kepada PT Bank Mandiri (Persero) Tbk, bahwa selama                         undertaken to PT Bank Mandiri (Persero) Tbk that, as
                kredit belum dinyatakan lunas oleh PT Bank Mandiri                         long as the loan has not been declared fully settled by
                (Persero) Tbk, berjanji dan menyanggupi untuk menjaga                      PT Bank Mandiri (Persero) Tbk, it shall undertake and
                rasio keuangan PT Cakra Buana Resources Energi Tbk                         agree to maintain the financial ratios of PT Cakra
                sebagai berikut:                                                           Buana Resources Energi Tbk as follows:
                -    DSCR = EBITDA/(Interest expense + Current Portion                     - Debt Service Coverage Ratio (DSCR) = EBITDA /
                     Long Term Debt Liabilities) = min. 1 x (sejak tahun                       (interest expense + current portion of long-term
                     2023 dan seterusnya)                                                      debt liabilities), with a minimum requirement of 1.0x
                                                                                               starting from 2023 and thereafter.
                -    DER = Total Interest Bearing Debt/Equity = max. 3,0 x                 - DER = Total Interest Bearing Debt/Equity = max.
                                                                                               3,0 x
                -    Debt Capacity = Total Interest Bearing Debt/EBITDA                    - Debt Capacity = Total Interest Bearing
                     = max. 7,0 x                                                              Debt/EBITDA = max. 7,0 x
                -    Cash Flow Positif                                                     - Cash Flow Positif
                Pada tanggal 31 Desember 2024, Perusahaan belum                           As of December 31, 2024, the Company had not
                memenuhi rasio atas DSCR dan Debt Capacity .                              complied with the DSCR and debt capacity ratios.

           2.   Selama kredit belum lunas, tanpa persetujuan tertulis dari           2.   For so long as the loan remains outstanding, and
                PT Bank Mandiri (Persero) Tbk terlebih dahulu PT Cakra                    without the prior written approval of PT Bank Mandiri
                Buana Resources Energi Tbk. Tidak diperkenankan                           (Persero) Tbk, PT Cakra Buana Resources Energi Tbk
                (negative covenant ):                                                     shall not (negative covenants):
                a.   Melakukan perubahan Anggaran Dasar Perusahaan,                       a. To amend the Company’s Articles of Association,
                     kecuali melakukan perubahan pengurus Perusahaan,                        except for changes in the Company’s
                     perubahan pemegang saham, permodalan dan nilai                          management,        changes       in     shareholders,
                     saham dengan tetap mempertahankan porsi                                 capitalization and share value, provided that the
                     kepemilikan PT Omudas Investment Holdco maka                            ownership portion of PT Omudas Investment
                     cukup memberitahukan secara tertulis kepada Bank                        Holdco is maintained, in which case the Company
                     maksimum 30 (tiga puluh) hari kalender sejak tanggal                    is only required to notify the Bank in writing no later
                     keputusan RUPS.                                                         than 30 (thirty) calendar days from the date of the
                                                                                             GMS resolution.




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Annual and Sustainability Report 2025                                               PT CAKRA BUANA RESOURCES ENERGI Tbk
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PT CAKRA BUANA RESOURCES ENERGI TBK                                                 PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah unless otherwise stated)

22. PINJAMAN BANK (lanjutan)                                            22. BANK LOANS (continued)

    PT Bank Mandiri (Persero) Tbk (lanjutan)                               PT Bank Mandiri (Persero) Tbk (continued)

    Fasilitas Kredit Investasi (lanjutan)                                  Investment Credit Facilities (continued)

        b.   Memindahtangankan barang agunan kecuali barang                    b. To transfer, sell, or otherwise dispose of the
             dagangan.                                                            collateral, except for inventory in the ordinary
                                                                                  course of business.
        c.   Memperoleh fasilitas kredit atau pinjaman lain dari               c. To obtain additional credit facilities or loans from
             bank atau lembaga keuangan lain, termasuk namun                      banks or other financial institutions, including but
             tidak terbatas pada transaksi derivatif.                             not limited to derivative transactions.
        d.   Mengikatkan diri sebagai penjamin hutang atau                     d. To act as a guarantor for the debts of, or to pledge
             menjaminkan harta kekayaan kepada pihak lain                         its assets as security to, any other party, except for
             kecuali kepada entitas anak usaha yang                               its subsidiaries that obtain facilities within the
             mendapatkan fasilitas di Mandiri Group.                              Mandiri Group.
        e.   Melunasi hutang kepada pemegang saham.                            e. To repay loans payable to shareholders.
        f.   Membuat suatu perikatan, perjanjian, atau dokumen                 f. To execute or enter into any undertaking,
             lain yang bertentangan dengan Perjanjian Kredit dan                  agreement, or other document that contradicts the
             atau dokumen agunan.                                                 Credit Agreement and/or the security documents.
        g.   Membuat dan/atau melakukan langkah-langkah atau                   g. To adopt and/or implement any strategic measures
             kebijakan bersifat strategis bagi perusahaan yang                    or policies which may adversely affect the
             pada akhirnya dapat mengakibatkan terganggunya                       Company’s operations and/or the smooth
             operasional Perusahaan dan/atau terganggunya                         performance of its payment obligations to the Bank
             kelancaran pembayaran kewajiban kepada bank                          and/or other third parties and/or violate applicable
             dan/atau pihak ke-tiga lainnya dan/atau melanggar                    laws and regulations.
             ketentuan dan perundang-undangan yang berlaku.

    Berdasarkan catatan akuntansi Perseroan, seluruh kewajiban             Based on the Company’s accounting records, all obligations
    atas pinjaman bank PT Bank Mandiri (Persero) Tbk telah                 arising from bank loans PT Bank Mandiri (Persero), Tbk
    dilunasi sepenuhnya sesuai dengan ketentuan dalam perjanjian           have been fully settled in accordance with the terms and
    kredit. Dengan demikian, pada tanggal pelaporan, tidak                 conditions of the credit agreements. Accordingly, as of the
    terdapat saldo pinjaman bank yang masih terutang.                      reporting date, there were no outstanding bank loan
                                                                           balances.
    Beban bunga pinjaman bank pada tanggal 31 Desember 2025                Interest expense on bank loans as of December 31, 2025
    dan 2024 masing-masing sebesar Rp18.387.233.682 dan                    and 2024 amounted to Rp18,387,233,682 and
    Rp13.179.589.784 (catatan 30).                                         Rp13,179,589,784, respectively (note 30).




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270          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                    Laporan Tahunan dan Keberlanjutan 2025
Page 273
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

       23. MODAL SAHAM DAN TAMBAHAN MODAL DISETOR                             23. SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL

           a.   Modal Saham                                                        a. Share Capital

           Susunan pemegang saham Perusahaan pada tanggal 31                       The composition of the Company’s shareholders as of
           Desember 2025 dan 2024 adalah sebagai berikut:                          December 31, 2025 and 2024 as follows:

                                                                  31 Desember 2025/
                                                                  December 31, 2025
                                                                      Persentase
                                                                     kepemilikan/
                                              Jumlah saham/         Percentage of               Jumlah/
           Nama pemegang saham               Number of shares         ownership                  Total               Name of Shareholders

           PT Omudas Investment Holdco            2.774.000.000          61,13%                69.350.000.000 PT Omudas Investment Holdco
           PT Republik Capital Indonesia            513.000.000          11,30%                12.825.000.000 PT Republik Capital Indonesia
           Andry Hakim                              226.903.374           5,00%                 5.672.584.350                 Andry Hakim
           Masyarakat                             1.024.164.067          22,57%                25.604.101.675                  Masyarakat
           Jumlah                                4.538.067.441           100%               113.451.686.025                            Total

                                                                  31 Desember 2024/
                                                                  December 31, 2024
                                                                      Persentase
                                                                     kepemilikan/
                                              Jumlah saham/         Percentage of               Jumlah/
           Nama pemegang saham               Number of shares         ownership                  Total               Name of Shareholders

           PT Omudas Investment Holdco           2.774.000.000                61,13%           69.350.000.000 PT Omudas Investment Holdco
           PT Republik Capital Indonesia           513.000.000                11,30%           12.825.000.000 PT Republik Capital Indonesia
           Bes Trus Pte. Ltd                       342.000.000                 7,54%            8.550.000.000             Bes Trus Pte. Ltd
           PT Bima Harsa Rahardja                  171.000.000                 3,77%            4.275.000.000      PT Bima Harsa Rahardja
           Masyarakat                              738.065.482                16,26%           18.451.637.050                  Masyarakat

           Modal ditempatkan                                                                                             Issued and paid-up
            dan disetor                          4.538.065.482                    100%      113.451.637.050                         capital

           Tahun 2025                                                              Year 2025

           Sejak tanggal 2 Januari 2025 sampai dengan 31 Desember                  From January 2, 2025 to December 31, 2025, a total of
           2025, sebanyak 1.959 Waran seri I telah dikonversi menjadi              1,959 Series I Warrants were exercised and converted into
           1.959 lembar saham.                                                     1,959 shares.
           Tahun 2024                                                              Year 2024

           Sejak tanggal 2 Januari 2024 sampai dengan 31 Desember                  From January 2, 2024 to December 31, 2024, a total of
           2024, sebanyak 33.861 Waran seri I telah dikonversi menjadi             33,861 Series I Warrants were exercised and converted
           33.861 lembar saham.                                                    into 33,861 shares.




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Annual and Sustainability Report 2025                                             PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                                                       271
Page 274
PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

23. MODAL SAHAM DAN TAMBAHAN MODAL DISETOR                                23. SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL
    (lanjutan)                                                                (continued)

    Tahun 2023                                                               Year 2023

    Sejak tanggal 11 Juli 2023 sampai dengan 31 Desember                     From July 11, 2023 up to December 31, 2023, a total of
    2023, sebanyak 31.621 Waran seri I telah dikonversi menjadi              31,621 Series I Warrants were exercised and converted
    31.621 lembar saham.                                                     into 31,621 shares.

    Tahun 2022                                                               Year 2022

    Sesuai dengan akta No. 09 tanggal 28 Juni 2022 Notaris                   In accordance with Deed No. 09 dated June 28, 2022 of
    Bonifasius Sulistiyo Wibowo, S.H., M.Kn., dengan SK                      Notary Bonifasius Sulistiyo Wibowo, S.H., M.Kn., as
    Kemenkumham No. AHU-0044547.AH.01.02 tahun 2022                          approved by the Ministry of Law and Human Rights of the
    para pemegang saham menyetujui:                                          Republic of Indonesia under Decree No. AHU-
                                                                             0044547.AH.01.02 of 2022, the shareholders approved the
                                                                             following:
    1.   Peningkatan modal dasar Perusahaan dari sebelumnya                  1. An increase in the Company’s authorized capital from
         sejumlah         Rp50.000.000.000           menjadi                      the previously amounting to Rp50,000,000,000 to
         Rp200.000.000.000.                                                       Rp200,000,000,000.
    2.   Peningkatan modal disetor dan/ atau modal ditempatkan               2. An increase in the Company’s issued and/or paid-up
         Perusahaan      dari       sebelumnya         sejumlah                 capital from Rp12,500,000,000 to Rp95,000,000,000.
         Rp12.500.000.000 menjadi Rp95.000.000.000.
    3.   Penerbitan 82.500 lembar saham baru dengan nilai                    3. The issuance of 82,500 new shares with a par value of
         nominal masing - masing saham sebesar Rp1.000.000                      Rp1,000,000 per share, representing a total par value
         dengan        nilai   nominal       seluruhnya    sebesar              of Rp82,500,000,000, which were subscribed and paid
         Rp82.500.000.000 yang diambil bagian oleh dan berasal                  by and derived from:
         dari:
         a. Konversi utang Perusahaan kepada West Ocean                          a. Conversion of the Company’s debt to West Ocean
               International Pte., Ltd sebesar Rp78.225.000.000                     International      Pte.,     Ltd  amounting     to
               yang timbul sehubungan dengan kewajiban                              Rp78,225,000,000, which arose in connection with
               pembayaran Perusahaan kepada West Ocean                              the Company’s payment obligations to West
               International      Pte.,       Ltd      berdasarkan                  Ocean International Pte., Ltd under Loan
               Perjanjian       Pinjaman        no.    0001/CBRE-                   Agreement No. 0001/CBRE-WOI/JKT/VI/2016
               WOI/JKT/VI/2016 tanggal 30 Juni 2016, dimana                         dated June 30, 2016, whereby such debt
               konversi utang tersebut seluruhnya telah dialihkan                   conversion has been fully transferred to the
               kepada pihak ketiga sebagai berikut :                                following third parties:
               - Tuan        Chan       Kern      Ngee     sebesar                   - Mr. Chan Kern Ngee amounting to
                  Rp4.370.000.000, berdasarkan Perjanjian Novasi                        Rp4,370,000,000,       based   on    Novation
                  No. 0003/LOA/CBRE-WOI/JKT/IV/2022 tanggal                             Agreement            No.     0003/LOA/CBRE-
                  18 April 2022 atau sebanyak 4.370 lembar                              WOI/JKT/IV/2022 dated 18 April 2022, or
                  saham;                                                                equivalent to 4,370 shares.
               - Tuan Sufrizal khairi Bin Jumahad sebesar                            - Mr. Sufrizal Khairi bin Jumahad amounting to
                  Rp2.850.000.000, berdasarkan Perjanjian Novasi                        Rp2,850,000,000,       based   on    Novation
                  No. 0003/LOA/CBRE-WOI/JKT/IV/2022 tanggal                             Agreement            No.     0003/LOA/CBRE-
                  18 April 2022 atau sebanyak 2.850 lembar                              WOI/JKT/IV/2022 dated 18 April 2022, or
                  saham;                                                                equivalent to 2,850 shares.
               - Ace International Marine Ltd sebesar                                - Ace International Marine Ltd amounting to
                  Rp21.850.000.000, berdasarkan Perjanjian                              Rp21,850,000,000, based on Novation
                  Novasi No. 0003/LOA/CBRE-WOI/JKT/IV/2022                              Agreement            No.     0003/LOA/CBRE-
                  tanggal 18 April 2022 atau sebanyak 21.850                            WOI/JKT/IV/2022 dated 18 April 2022, or
                  lembar saham;                                                         equivalent to 21,850 shares.




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272         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                     Laporan Tahunan dan Keberlanjutan 2025
Page 275
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                          (Expressed in Rupiah unless otherwise stated)

       23. MODAL SAHAM DAN TAMBAHAN MODAL DISETOR                                23. SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL
           (lanjutan)                                                                (continued)

           a.   Modal Saham (lanjutan)                                               a. Share Capital (continued)

                     - Water Wheel Renewables Pte., Ltd sebesar                              - Water Wheel Renewables Pte., Ltd amounting
                       Rp17.480.000.000, berdasarkan Perjanjian                                to Rp17,480,000,000, based on Novation
                       Novasi No.0003/LOA/CBRE-WOI/JKT/IV/2022                                 Agreement          No.       0003/LOA/CBRE-
                       tanggal 18 April 2022 atau sebanyak 17.480                              WOI/JKT/IV/2022 dated 18 April 2022, or
                       lembar saham;                                                           equivalent to 17,480 shares.
                     - PT Republik Capital Indonesia sebesar                                 - PT Republik Capital Indonesia amounting to
                       Rp12.825.000.000, berdasarkan Perjanjian                                Rp12,825,000,000, based on Novation
                       Novasi No. 0003/LOA/CBRE-WOI/JKT/IV/2022                                Agreement          No.       0003/LOA/CBRE-
                       tanggal 18 April 2022 atau sebanyak 12.825                              WOI/JKT/IV/2022 dated 18 April 2022, or
                       lembar saham;                                                           equivalent to 12,825 shares.
                     - PT Omudas Investment Holdco sebesar                                   - PT Omudas Investment Holdco amounting to
                       Rp18.850.000.000, berdasarkan Perjanjian                                Rp18,850,000,000, based on Novation
                       Novasi No. 0003/LOA/CBRE-WOI/JKT/IV/2022                                Agreement          No.       0003/LOA/CBRE-
                       tanggal 18 April 2022 atau sebanyak 18.850                              WOI/JKT/IV/2022 dated 18 April 2022, or
                       lembar saham;                                                           equivalent to 18,850 shares.
                b.   Pengambilan bagian oleh PT Bima Harsa Rahardja                      b. The subscription by PT Bima Harsa Rahardja of
                     atas 4.275 saham baru dengan nilai nominal                             4,275 new shares with an aggregate nominal value
                     seluruhnya sebesar Rp4.275.000.000.                                    of Rp4,275,000,000.
           Rasio lancar, rasio utang terhadap modal , rasio cakupan                  Current ratio, debt to equity ratio, debt service coverage
           pelunasan utang, kekayaan bersih , serta rasio utang bank                 ratio, net worth, and maximum bank loan to EBITDA is
           terhadap laba kotor adalah rasio yang diwajibkan oleh                     required to manage by management to evaluate the capital
           kreditur untuk diawasi oleh manajemen dalam mengevaluasi                  structure of the Company and review the effectiveness of
           struktur permodalan Perusahaan serta menelaah efektivitas                 the Company debt to credit risk.
           pinjaman Perusahaan.

           Pada tanggal 31 Desember 2025 dan 2024 Perusahaan                         As of December 31, 2025 and 2024 the Company has
           telah memenuhi seluruh persyaratan dan pembatasan sesuai                  complied with all the requirements and restrictions in
           dengan perjanjian-perjanjian diatas.                                      accordance with the loan agreements above.

           Selain harus memenuhi persyaratan pinjaman, Perusahaan                    Apart from the fulfillment of the loan requirements, the
           juga harus mempertahankan struktur permodalannya pada                     Company must maintain its capital structure at a level that
           tingkat yang tidak berisiko terhadap peringkat kreditnya.                 will not risk the credit rating.

           Kebijakan Perusahaan adalah mempertahankan struktur                       The Company’s policy is to maintain a healthy capital
           permodalan yang sehat untuk mengamankan akses                             structure in order to secure access to finance at a
           terhadap pendanaan pada biaya yang wajar.                                 reasonable cost.

           b.   Tambahan Modal Disetor                                               b. Additional Paid-in Capital
           Akun ini merupakan tambahan modal disetor pada tanggal                    This account represents additional paid-in capital as of
           31 Desember 2025 dan 2024 yang timbul sebagai berikut:                    December 31, 2025 and 2024 derived from as follows:


                                                    31 Desember 2025/            31 Desember 2024/
                                                    December 31, 2025            December 31, 2024

           Saldo awal                                      59.488.614.949            59.480.725.336                         Beginning balance
           Pelaksanaan waran                                      456.447                 7.889.613                        Exercise of warrants
           Jumlah                                          59.489.071.396            59.488.614.949                                       Total




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Annual and Sustainability Report 2025                                              PT CAKRA BUANA RESOURCES ENERGI Tbk
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PT CAKRA BUANA RESOURCES ENERGI TBK                                                        PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                        For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

24. PENGHASILAN KOMPERHENSIF LAIN                                            24. OTHER COMPREHENSIVE INCOME

                                                        2025                      2024
    Saldo awal                                           24.782.546               115.041.646                             Beginning balance
    Pengukuran kembali liabilitas imbalan                                                               Remeasurement of post-employment
      pasca kerja (catatan 20)                          (143.448.989)              (90.259.100)                  benefit liabilities (note 20)
    Saldo Akhir                                         (118.666.443)              24.782.546                                Ending balance

25. DEFISIT                                                                  25. DEFICIT

                                                        2025                      2024
    Saldo awal                                       (55.794.974.511)           (4.133.579.622)                            Beginning balance
    Rugi tahun berjalan                              (70.354.944.599)          (51.661.394.889)                             Loss for the year
    Saldo Akhir                                     (126.149.919.110)          (55.794.974.511)                              Ending balance

26. PENDAPATAN                                                               26. REVENUES

                                                        2025                      2024
    Sewa kapal                                       53.296.574.216             54.044.535.226                                   Vessel rent
    Ship Management                                   1.866.634.143              8.129.060.820                             Ship Management
    Jumlah                                           55.163.208.359             62.173.596.046                                          Total

    Persentase pendapatan untuk tahun yang berakhir pada                        The percentage of revenues for the years ended December
    tanggal 31 Desember 2025 dan 2024 berdasarkan pelanggan                     31, 2025 and 2024, derived from customers with revenue
    dengan nilai pendapatan diatas 10% (sepuluh persen) dari                    contributions exceeding 10% (ten percent) of total revenue,
    jumlah pendapatan adalah sebagai berikut:                                   is as follows:

                                               2025                %              2024              %

    PT SYS Petrolindo Utama                 23.258.108.838         42%         8.700.000.000        14%           PT SYS Petrolindo Utama
    PT Gunanusa Utama Fabricators           12.586.500.000         23%                     -         0%     PT Gunanusa Utama Fabricators
    PT Mitra Bahari Internusa                6.834.967.476         12%         1.836.363.636         3%           PT Mitra Bahari Internusa
    PT Vama Samudera Jaya                    5.853.843.486         11%         2.733.333.333         4%           PT Vama Samudera Jaya
    PT Habco Trans Maritima Tbk                          -          -         15.884.776.684        26%       PT Habco Trans Maritima Tbk
    PT Halmahera Jaya Feronikel                          -          -          8.647.969.207        14%        PT Halmahera Jaya Feronikel
    PT Orca Indo Logistik                                -          -          8.143.824.630        13%               PT Orca Indo Logistik

    Pada tahun yang berakhir pada tanggal 31 Desember 2025                      For the years ended December 31, 2025 and 2024, all
    dan 2024 seluruh pendapatan berasal dari pihak ketiga.                      revenue was derived from third parties.




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274          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                           Laporan Tahunan dan Keberlanjutan 2025
Page 277
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

       27. BEBAN POKOK PENDAPATAN                                                27. COST OF REVENUES
                                                             2025                     2024
           Penyusutan                                      18.783.405.289          16.657.773.688                                 Depreciation
           Bahan bakar                                     10.554.601.640           8.185.992.870                                          Fuel
           Operasional kapal                                9.682.801.638           8.639.575.588                             Vessel operating
           Asuransi                                         4.388.561.734           4.304.097.741                                    Insurance
           Perbaikan dan Pemeliharaan                       4.059.159.213           4.466.588.379                    Repairs and maintenance
           Sewa kapal                                       2.525.000.000           6.980.014.787                               Vessel charter
           Keagenan                                         1.330.373.289             250.708.920                                 Agency fees
           Penyusutan                                                                                                           Depreciation of
             aset hak guna (Catatan 12)                      971.601.439            4.004.113.484              right-of-use assets (Note 12)
           Ekspedisi                                         461.859.315              248.966.777                       Freight and forwarding
           Sertifikat                                        314.939.256              546.565.734                                  Certification
           Legalitas dan profesional                         250.649.357            1.342.136.988                  Legal and professional fees
           Keamanan                                                    -               10.000.000                                      Security
           Lain - lain                                       323.811.392              484.002.910                                        Others
           Jumlah                                          53.646.763.562          56.120.537.866                                         Total


       28. BEBAN UMUM DAN ADMINISTRASI                                           28. GENERAL AND ADMISTRATIVE EXPENSES

                                                             2025                     2024

           Gaji dan tunjangan                              10.417.123.271          14.918.459.397                       Salary and allowance
           Perbaikan dan pemeliharaan                       7.700.338.902           9.128.305.606                    Repair and maintenance
           Penyusutan aset tetap                            6.751.410.645           4.140.249.992                Depreciation of fixed assets
           Penyusutan                                                                                                         Depreciation of
             aset hak guna (Catatan 12)                     1.243.654.562           1.243.654.562             right-of-use assets (Note 12)
           Legalitas dan profesional                        1.129.397.821             560.555.352                 Legal and professional fees
           Representasi dan jamuan                            850.055.676             255.127.345           Representation and entertainment
           Perjalanan dinas                                   708.438.934             448.542.675                   Business travel expenses
           Transportasi                                       508.565.485             117.190.255                             Transportation
           Sewa                                               461.557.620             261.425.420                                        Rent
           Operasional kantor                                 282.491.955             186.902.206                            Office operating
           Pajak                                              253.644.126             281.680.786                                      Taxes
           Imbalan kerja                                      106.603.952              86.958.219                          Employee benefits
           Administrasi bank                                  100.801.039              23.276.228                               Bank charges
           Medis                                               73.052.807              58.229.233                                    Medical
           Utilitas                                            57.738.259              53.440.679                                     Utilities
           Lainnya                                          1.146.004.105             812.625.318                                      Others

           Jumlah                                          31.790.879.159          32.576.623.273                                         Total




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                           PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                          NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                          For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                (Expressed in Rupiah unless otherwise stated)

29. PENGHASILAN (BEBAN) LAIN-LAIN-NETO                                       29. OTHER INCOME (EXPENSES) - NETO

                                                       2025                           2024

    Pendapatan bunga                                     86.071.599                     25.316.549                            Interest income
    Rugi selisih kurs                                (6.195.001.013)                     5.203.236                   Foreign exchange loss
    Penurunan nilai aset tetap (catatan 11)         (10.856.007.229)                (7.238.626.202)     Impairment of fixed assets (note 11)
    Laba pelepasan aset hak guna (catatan 12)         1.088.722.855                              -  Gain on disposal of right of use (note 12)
    Laba pelepasan aset tetap (catatan 11)            3.819.240.000                              - Gain on disposal of fixed assets (note 11)
    Penyisihan piutang tak tertagih                  (6.478.920.066)                             -      Allowance for uncollectible accounts
    Pendapatan (Beban) Lainnya                       (1.607.551.810)                (2.518.082.325)               Other income (expenses)

    Jumlah                                          (20.143.445.664)                (9.726.188.742)                                         Total

30. BEBAN KEUANGAN                                                           30. FINANCIAL EXPENSES

                                                       2025                           2024

    Beban bunga liabilitas sewa                        (887.872.392)               (1.468.027.780)           Interest expense on lease liabilities
    Beban bunga pinjaman bank                       (18.387.233.682)              (13.179.589.784)               Interest expense on bank loans
    Beban bunga utang leasing                                     -                   (17.940.338)          Interest expense on lease payables

    Jumlah                                          (19.275.106.074)              (14.665.557.902)                                          Total

31. LABA PER SAHAM                                                           31. EARNINGS PER SHARE

    a.   Laba per saham dasar                                                a.     Basic earnings per share

                                                       2025                           2024

    Laba (rugi) neto tahun berjalan                 (70.354.944.599)              (51.661.394.889)                  Net profit (loss) for the year
    Jumlah rata - rata tertimbang                                                                                  Weighted average number of
      saham dasar                                    4.538.067.441                  4.538.047.916                          shares outstanding

    Laba per saham dasar                                      (15,50)                        (11,38)                  Basic earnings per share

    Tidak ada dilusi laba per saham dari waran yang diterbitkan                   There was no dilution of earnings per share from warrants
    per 31 Desember 2024 karena harga pelaksanaan waran                           issued as of December 31, 2024, because the exercise price
    lebih besar dibandingkan pasar saham. Per Januari 2025                        of the warrants was higher than the stock market price. As of
    seluruh waran yang diterbitkan telah kadaluarsa (Catatan                      January 2025, all warrants issued had expired (Note 1c).
    1c).
    b.   Laba per saham dilusian                                             b.     Diluted earnings per share

                                                       2025                           2024

    Laba (rugi) neto tahun berjalan                 (70.354.944.599)              (51.661.394.889)                  Net profit (loss) for the year
    Jumlah rata - rata tertimbang                                                                                  Weighted average number of
      saham dilusian                                 5.461.077.441                  4.538.047.916                                 dilluted shares

    Laba per saham dilusian                                   (12,88)                        (11,38)                Diluted earnings per share




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Page 279
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                             PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                            For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                  (Expressed in Rupiah unless otherwise stated)

       31. LABA PER SAHAM (lanjutan)                                                    31. EARNINGS PER SHARE (lanjutan)

           Promissory notes konversi yang diterbitkan pada 2025                          Convertible promissory notes issued in 2025 are considered
           dianggap berpotensi saham biasa dan telah disertakan                          potential common shares and have been included in the
           dalam perhitungan laba per saham dilusian sejak tanggal                       calculation of diluted earnings per share since their date of
           penerbitannya. Promissory notes konversi diasumsikan telah                    issue. Convertible promissory notes are assumed to have
           dikonversi ke saham biasa.                                                    been converted to common shares.

       32. SALDO DAN TRANSAKSI DENGAN PIHAK - PIHAK                                     32. BALANCES AND TRANSACTIONS WITH RELATED

           a.   Sifat hubungan dengan pihak berelasi                                       a. Nature of relationships with related parties
                Dalam kegiatan usahanya, Perusahaan melakukan                                   In the ordinary course of business, the Company
                transaksi dengan pihak-pihak yang berelasi. Sifat                               enters into transactions with related parties. The nature
                transaksi dan hubungan dengan pihak-pihak berelasi                              of transactions and relationships with related parties
                adalah sebagai berikut:                                                         are as follows:

                             Pihak Berelasi/                          Sifat Hubungan/                                Sifat Transaksi/
                             Related Parties                       Nature of relationship                        Nature of transactions
                    PT Republik Capital Indonesia          Pemegang saham/ Shareholders                  Piutang lain - lain/ Other receivables
                    PT Bima Harsa Raharja                  Entitas afilliasi/ Affiliated entities        Piutang lain - lain/ Other receivables
                    PT Karunia Karya Nasional              Entitas afilliasi/ Affiliated entities        Piutang lain - lain/ Other receivables
                    PT Mandala Armada Nusantara            Entitas afilliasi/ Affiliated entities        Sewa kapal/ Vessel lease expense
                    PT Catur Dharma Anugerah               Entitas afilliasi/ Affiliated entities        Sewa kantor/ Office lease expense

                Entitas afiliasi adalah entitas di bawah pengendalian                           An affiliated entity is an entity under the common
                pemegang saham yang sama dan/atau memiliki dewan                                control of the same shareholders and/or has the same
                direksi atau komisaris yang sama dengan Perusahaan.                             members of the Board of Directors or the Board of
                                                                                                Commissioners as the Company.

           b. Transaksi pihak berelasi                                                     b. Related party transactions

                                                           31 Desember 2025/             31 Desember 2024/
                                                           December 31, 2025             December 31, 2024

                Aset                                                                                                                              Assets

                Piutang lain - lain (catatan 6)                                                                              Other receivables (note 6)
                Bagian lancar                                                                                                            Current portion
                PT Mandala Armada Nusantara                                         -               2.741.476.324         PT Mandala Armada Nusantara
                PT Wistara Andalas Persada                                          -                 238.715.000           PT Wistara Andalas Persada
                PT Bima Harsa Raharja                                               -                   1.400.000                PT Bima Harsa Raharja
                PT Karunia Karya Nasional                                           -                   7.294.660             PT Karunia Karya Nasional
                Jumlah                                                              -               2.988.885.984                                  Total




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Page 280
PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

32. SALDO DAN TRANSAKSI DENGAN PIHAK - PIHAK                               32. BALANCES AND TRANSACTIONS WITH RELATED
    BERELASI (lanjutan)                                                        PARTIES (continued)

    b. Transaksi pihak berelasi (lanjutan)                                    b. Related party transactions (continued)

                                                    31 Desember 2025/        31 Desember 2024/
                                                    December 31, 2025        December 31, 2024

        Deposit sewa (catatan 10)                                                                             Deposit rent (note 10)
        Bagian tidak lancar                                                                                      Non-current portion
        PT Mandala Armada Nusantara                                 -               825.000.000       PT Mandala Armada Nusantara
        PT Catur Dharma Anugerah Surya                    400.000.000               400.000.000     PT Catur Dharma Anugerah Surya
        Jumlah                                            400.000.000              1.225.000.000                                Total

        Uang muka (catatan 9)                                                                                    Advances (note 9)
        Bagian lancar                                                                                                Current portion
        PT Mandala Armada Nusantara                                    -            545.957.946        PT Mandala Armada Nusantara
        Jumlah                                                         -            545.957.946                                 Total

        Aset hak guna (Catatan 12)                                                                     Right-of-use assets (Note 12)
        Bagian tidak lancar                                                                                       Non-current portion
        PT Mandala Armada Nusantara                                  -            10.314.532.902      PT Mandala Armada Nusantara
        PT Catur Dharma Anugerah Surya                   5.700.083.416             6.943.737.977    PT Catur Dharma Anugerah Surya

        Jumlah                                           5.700.083.416            17.258.270.879                                Total

        Jumlah asset - pihak berelasi                    6.100.083.416            22.018.114.809        Total assets – related parties
        Persentase terhadap jumlah asset                         0,30%                     6,60%          Percentage to total assets

                                                    31 Desember 2025/        31 Desember 2024/
                                                    December 31, 2025        December 31, 2024

        Liabilitas                                                                                                          Liabilities

        Liabilitas sewa (catatan 19)                                                                       Lease liabilities (note 19)
        Bagian jangka pendek                                                                                       Short-term portion
        PT Mandala Armada Nusantara                                  -             4.100.775.977      PT Mandala Armada Nusantara
        PT Catur Dharma Anugerah Surya                   1.221.476.287             1.140.607.234    PT Catur Dharma Anugerah Surya

        Bagian jangka panjang                                                                                    Non-current portion
        PT Mandala Armada Nusantara                                  -             7.095.647.293      PT Mandala Armada Nusantara
        PT Catur Dharma Anugerah Surya                   5.132.768.078             6.354.244.365    PT Catur Dharma Anugerah Surya
        Jumlah                                           6.354.244.365            18.691.274.869                              Total




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278         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                     Laporan Tahunan dan Keberlanjutan 2025
Page 281
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                  PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                 For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                       (Expressed in Rupiah unless otherwise stated)

       32. SALDO DAN TRANSAKSI DENGAN PIHAK - PIHAK                             32. BALANCES AND TRANSACTIONS WITH RELATED
           BERELASI (lanjutan)                                                      PARTIES (continued)

           b. Transaksi pihak berelasi (lanjutan)                                  b. Related party transactions (continued)
                                                           31 Desember 2025/      31 Desember 2024/
                                                           December 31, 2025      December 31, 2024
               Utang lain-lain                                                                                            Other payables
               Bagian jangka pendek                                                                                     Short-term portion
               PT Omudas Investment Holdco                     33.411.767.222          19.116.095.714       PT Omudas Investment Holdco
               PT Mandala Armada Nusantara                                  -           1.020.000.000       PT Mandala Armada Nusantara
               PT Catur Dharma Anugrah Surya                   18.919.000.000             570.000.000      PT Catur Dharma Anugrah Surya
               Jumlah                                          52.330.767.222          20.706.095.714                               Total

               Jumlah liabilitas - pihak berelasi              58.685.011.587          39.397.370.583      Total liabilities – related parties
               Persentase terhadap jumlah liabilitas                    3,00%                  18,19%        Percentage to total liabilities

               Utang lain-lain seluruhnya tanpa jaminan, tidak                         Other payables are entirely unsecured, non-interest
               dikenakan bunga dan dapat dibayarkan sewaktu-waktu                      bearing, payable on demand, and denominated in
               serta didenominasi dalam mata uang Rupiah.                              Indonesian Rupiah.

               Utang lain-lain merupakan utang kepada pemegang                         Other payables represent payables to shareholders,
               saham dalam bentuk Rupiah tanpa jaminan, tidak                          denominated in Indonesian Rupiah, unsecured, non-
               dikenakan bunga dan dapat dibayarkan sewaktu-waktu.                     interest bearing, and payable on demand.

                                                           31 Desember 2025/      31 Desember 2024/
                                                           December 31, 2025      December 31, 2024
               Beban pokok pendapatan
                 (catatan 27)                                                                                    Cost of revenue (note 27)
               PT Mandala Armada Nusantara                       971.601.439            4.004.113.484        PT Mandala Armada Nusantara
               Jumlah                                            971.601.439            4.004.113.484                                Total

               Jumah beban pokok pendapatan -                                                                       Total cost of revenue –
                 pihak berelasi                                  971.601.439            4.004.113.484                       related parties
               Persentase terhadap jumlah                                                                               Percentage to total
                 beban pokok pendapatan                                1,81%                    7,13%                      cost of revenue

                                                           31 Desember 2025/      31 Desember 2024/
                                                           December 31, 2025      December 31, 2024

                                                                                                                             General and
               Beban administrasi dan umum                                                                     administrative expenses
                 (catatan 28)                                                                                                   (note 28)
               PT Catur Dharma Anugerah Surya                   1.243.654.562           1.243.654.562     PT Catur Dharma Anugerah Surya
               Jumlah                                           1.243.654.562           1.243.654.562                                Total
               Jumah beban administrasi                                                                   Total general and administrative
                 dan umum - pihak berelasi                      1.243.654.562           1.243.654.562          expenses – related parties
                                                                                                                       Percentage to total
               Persentase terhadap jumlah                                                                                     general and
                 beban administrasi dan umum                           3,91%                    3,82%            administrative expenses




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Page 282
PT CAKRA BUANA RESOURCES ENERGI TBK                                                    PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

32. SALDO DAN TRANSAKSI DENGAN PIHAK - PIHAK                              32. BALANCES AND TRANSACTIONS WITH RELATED
    BERELASI (lanjutan)                                                       PARTIES (continued)

    b. Transaksi pihak berelasi (lanjutan)                                    b. Related party transactions (continued)

                                                    31 Desember 2025/        31 Desember 2024/
                                                    December 31, 2025        December 31, 2024

        Pendapatan (biaya) keuangan                                                                      Financial income (expenses)
          (catatan 30)                                                                                                     (note 30)
        PT Catur Dharma Anugerah Surya                    (479.392.766)              (632.331.784)    PT Catur Dharma Anugerah Surya
        PT Mandala Armada Nusantara                       (408.479.626)              (835.695.996)      PT Mandala Armada Nusantara
        Jumlah                                            (887.872.392)            (1.468.027.780)                              Total

        Jumah pendapatan (biaya) keuangan                                                               Total finance income (costs) –
          - pihak berelasi                                (887.872.392)            (1.468.027.780)                       related parties
        Persentase terhadap jumlah                                                                                  Percentage to total
          pendapatan (biaya) keuangan                            4,61%                     10,01%               finance income (costs)

        Personel manajemen kunci Perusahaan meliputi seluruh                      The Company’s key management personnel comprise
        anggota Dewan Komisaris dan Direksi (namun tidak                          all members of the Board of Commissioners and the
        termasuk Komisaris Independen). Manajemen kunci                           Board of Directors (excluding the Independent
        tersebut memiliki kewenangan dan tanggung jawab                           Commissioner). Such key management personnel
        untuk merencanakan, memimpin, dan mengendalikan                           have the authority and responsibility for planning,
        aktivitas Perusahaan.                                                     directing and controlling the activities of the Company.


        Total gaji dan kompensasi lainnya yang diterima Dewan                     The total salaries and other compensation received by
        Komisaris dan Direksi Perusahaan masing-masing pada                       the Company’s Board of Commissioners and Board of
        2025 dan 2024 adalah sebagai berikut:                                     Directors for the years 2025 and 2024, respectively,
                                                                                  are as follows:

                                                    31 Desember 2025/        31 Desember 2024/
                                                    December 31, 2025        December 31, 2024

        Komisaris                                        2.995.000.000             5.760.000.000                           Commissioner
        Direksi                                          2.002.000.000             3.000.000.000                                Direksi
        Jumlah                                           4.997.000.000             8.760.000.000                                  Total

33. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN                              33. FINANCIAL ASSETS AND LIABILITIES

                                             31 Desember 2025/            31 Desember 2024/
                                             December 31, 2025            December 31, 2024

    Aset keuangan                                                                                              Current financial assets
    Kas dan setara kas                              14.299.014.327             3.251.404.222                  Cash and cash equivalents
    Piutang usaha                                   25.772.292.417             7.799.713.266                        Account receivables
    Piutang lain-lain                                5.138.443.486             3.308.597.076                           Other receivable
    Jumlah                                          45.209.750.231            14.359.714.564                                        Total




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       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       33. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN                             33. FINANCIAL ASSETS AND LIABILITIES (continued)

                                                    31 Desember 2025/           31 Desember 2024/
                                                    December 31, 2025           December 31, 2024

           Liabilitas keuangan                                                                                       Current financial liabilities
           Utang usaha                                    20.673.662.066            14.151.571.475                               Trade payables
           Biaya yang masih harus dibayar                  1.113.752.722             5.634.887.144                            Accrued expenses
           Utang lain-lain                             1.732.623.517.411            20.417.845.903                               Other payables
           Pinjaman bank                                 187.182.988.500           135.154.159.925                                   Bank loans
           Jumlah                                      1.941.593.920.699           175.358.464.447                                            Total

           Metode dan asumsi yang digunakan untuk estimasi nilai                    The methods and assumptions used in estimating fair
           wajar adalah sebagai berikut:                                            values are as follows:

           Nilai wajar kas dan setara kas, piutang usaha, piutang lain-             The fair values of cash and cash equivalents, account
           lain, utang usaha, utang lain-lain, biaya yang masih harus               receivables, other receivables, account payables, other
           dibayar dan pinjaman bank mendekati nilai tercatat karena                payables, accrued expenses, and bank loan approximate
           jangka waktu jatuh tempo yang singkat atas instrumen                     their carrying amounts due to the short-term maturities of
           keuangan tersebut.                                                       these financial instruments.

       34. KEBIJAKAN DAN MANAJEMEN RISIKO KEUANGAN                              34. FINANCIAL RISK MANAGEMENT AND POLICIES

           Perusahaan terekspos risiko suku bunga, risiko kredit dan                The Company is exposed to interest rate risk, credit risk,
           risiko likuiditas yang timbul dalam kegiatan usahanya.                   and liquidity risk arising from its operating activities.
           Manajemen secara berkesinambungan memantau proses                        Management continuously monitors the Company’s risk
           manajemen risiko Perusahaan untuk memastikan                             management processes to ensure that an appropriate
           tercapainya keseimbangan yang memadai antara risiko dan                  balance between risk and control is achieved. The risk
           pengendalian. Sistem dan kebijakan manajemen risiko                      management systems and policies are reviewed
           ditelaah secara berkala untuk menyesuaikan dengan                        periodically to reflect changes in market conditions and the
           perubahan kondisi pasar dan aktivitas Perusahaan.                        Company’s activities.

           Direksi Perusahaan menelaah dan menyetujui kebijakan                     The Company’s Board of Directors reviews and approves
           untuk mengelola risiko-risiko yang dirangkum di bawah ini:               the policies for managing the risks summarized below:

           a.   Risiko Suku Bunga                                                   a. Interest rate risk
                Risiko suku bunga adalah risiko dimana nilai wajar atau                 Interest rate risk is the risk that the fair value or future
                arus kas masa datang dari suatu instrumen keuangan                      cash flows of a financial instrument will fluctuate due to
                akan berfluktuasi akibat perubahan suku bunga pasar.                    changes in market interest rates. This risk mainly
                Risiko ini sebagian besar timbul dari pinjaman bank.                    arises from bank loans.

                Untuk meminimalkan risiko suku bunga, manajeman                         To minimize interest rate risk, management reviews
                menelaah berbagai suku bunga yang ditawarkan                            various interest rates offered by lenders in order to
                kreditur untuk mendapatkan suku bunga yang paling                       obtain the most favorable interest rate prior to entering
                menguntungkan sebelum melakukan perikatan utang.                        into debt agreements.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

34. KEBIJAKAN DAN MANAJEMEN RISIKO KEUANGAN                               34. FINANCIAL RISK MANAGEMENT AND POLICIES

    a.   Risiko Suku Bunga (lanjutan)                                        a. Interest rate risk (continued)
         Perusahaan tidak memiliki aset dengan tingkat bunga                     The Company does not have assets with significant
         signifikan, pendapatan dan arus kas dari operasi                        interest rates; therefore, the Company’s income and
         Perusahaan secara substansial bebas dari pengaruh                       cash flows from operations are substantially free from
         perubahan tingkat suku bunga pasar. Perusahaan tidak                    the effects of changes in market interest rates. The
         memiliki eksposur signifikan terhadap risiko suku bunga                 Company has no significant exposure to interest rate
         karena tidak memiliki pinjaman dengan tingkat bunga                     risk as it does not have borrowings with floating interest
         mengambang.                                                             rates.

    b. Risiko Kredit                                                         b. Credit Risk
         Risiko kredit adalah risiko bahwa pihak lain tidak dapat                Credit risk is the risk that another party fails to
         memenuhi kewajiban atas suatu instrumen keuangan                        discharge its obligations under a financial instrument or
         atau kontrak pelanggan, yang menyebabkan kerugian                       a customer contract, resulting in a financial loss. The
         keuangan. Tujuan Perusahaan adalah untuk mencapai                       Company’s objective is to achieve sustainable revenue
         pertumbuhan pendapatan yang berkelanjutan seraya                        growth while minimizing losses arising from increased
         meminimalkan kerugian yang timbul atas eksposur                         credit risk exposure. The Company conducts sales
         peningkatan risiko kredit. Perusahaan melakukan                         transactions only with reputable and creditworthy third
         transaksi penjualan hanya dengan pihak ketiga yang                      parties.
         memiliki nama baik dan terpercaya.

         Kebijakan Perusahaan mengatur bahwa seluruh                             The Company’s policy requires that all customers who
         pelanggan yang akan melakukan transaksi penjualan                       intend to enter into credit sales transactions undergo a
         secara kredit harus melalui proses verifikasi kredit.                   credit verification process. In addition, receivable
         Selain itu, saldo piutang dipantau secara terus menerus                 balances are continuously monitored to ensure that the
         dengan tujuan untuk memastikan bahwa eksposur                           Company’s exposure to default credit risk remains
         Perusahaan terhadap risiko kredit macet tidak signifikan.               insignificant.



         Piutang usaha dan piutang lain-lain yang belum jatuh                    Account receivables and other receivables that are
         tempo ataupun penurunan nilai adalah dengan debitur                     neither past due nor impaired are with creditworthy
         kredit dengan catatan pembayaran yang baik. Kas dan                     debtors that have a good payment history. Cash and
         setara kas serta aset keuangan lainnya yang belum                       cash equivalents and other financial assets that are
         jatuh tempo ataupun mengalami penurunan nilai                           neither past due nor impaired are placed with reputable
         ditempatkan pada lembaga keuangan yang resmi dan                        and creditworthy financial institutions.
         memiliki reputasi baik.

         Tabel berikut ini menunjukkan informasi mengenai                        The following table presents information on the
         eksposur risiko kredit berdasarkan evaluasi penurunan                   Company’s credit risk exposure based on the
         nilai pada aset keuangan Perusahaan pada tanggal 31                     impairment assessment of its financial assets as of
         Desember 2025 dan 2024.                                                 December 31, 2025 and 2024.




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Page 285
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                        PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                       NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                       For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                              (Expressed in Rupiah unless otherwise stated)

       34. KEBIJAKAN DAN MANAJEMEN RISIKO KEUANGAN                                 34. FINANCIAL RISK MANAGEMENT AND POLICIES

           b. Risiko Kredit (lanjutan)                                                   b. Credit Risk (continued)
                                                                31 Desember 2025/ December 31, 2025
                                      Belum jatuh          Telah jatuh
                                    tempo dan tidak       tempo tetapi      Mengalami           Penyisihan
                                                                                                                      Jumlah
                                      mengalami        tidak mengalami    penurunan nilai     penurunan nilai
                                    penurunan nilai     penurunan nilai
                                                                                              Allowance for
                                    Neither past due   Past due but not
                                                                             Impaired          impairment             Total
                                     nor impaired         impaired
                                                                                                  losses
                Kas dan                                                                                                                     Cash and
                     setara kas       14.299.014.327                  -                  -                    -     14.299.014.327   cash equivalents
                Piutang                                                                                                                       Account
                     usaha                         -     25.772.292.417        72.890.000          (72.890.000)     25.772.292.417       receivables
                Piutang lain-lain                  -      5.138.443.486                  -                    -      5.138.443.486   Other receivables
                Jumlah                14.299.014.327     30.910.735.903        72.890.000          (72.890.000)     45.209.750.230               Total

                                                                31 Desember 2024/ December 31, 2024
                                      Belum jatuh          Telah jatuh
                                    tempo dan tidak       tempo tetapi      Mengalami           Penyisihan
                                                                                                                      Jumlah
                                      mengalami        tidak mengalami    penurunan nilai     penurunan nilai
                                    penurunan nilai     penurunan nilai
                                                                                              Allowance for
                                    Neither past due   Past due but not
                                                                             Impaired          impairment             Total
                                     nor impaired         impaired
                                                                                                  losses
                Kas dan                                                                                                                     Cash and
                     setara kas        3.251.404.222                  -                  -                    -      3.251.404.222   cash equivalents
                Piutang                                                                                                                       Account
                     usaha                         -      7.799.713.266                  -                    -      7.799.713.266       receivables
                Piutang lain-lain                  -      3.308.597.076                  -                    -      3.308.597.076   Other receivables
                Jumlah                 3.251.404.222     11.108.310.342                  -                    -     14.359.714.564               Total


           c.   Risiko Likuiditas                                                        c. Liquidity Risk
                Risiko likuiditas didefinisikan sebagai risiko saat arus                     Liquidity risk is defined as the risk that the Company’s
                kas Perusahaan menunjukkan bahwa pendapatan                                  cash flows indicate that short-term income is
                jangka pendek tidak cukup untuk menutupi pengeluaran                         insufficient to cover short-term expenditures.
                jangka pendek.

                Manajemen risiko yang telah diterapkan Perusahaan                            The risk management applied by the Company is as
                adalah sebagai berikut:                                                      follows:
                1. Secara periodik melakukan penagihan kepada                                1. Periodically conducting collections from customers
                    pelanggan agar melakukan pembayaran tepat                                     to ensure timely payments.
                    waktu.
                2.     Mengusahakan pembelian secara kredit dan                              2. Seeking to prioritize purchases on a credit basis
                       mengurangi pembelian secara tunai.                                       and reduce cash purchases.

                Tabel di bawah merangkum profil jatuh tempo liabilitas                       The table below summarizes the maturity profile of the
                keuangan Perusahaan berdasarkan pembayaran                                   Company’s financial liabilities based on undiscounted
                kontraktual yang tidak didiskontokan pada tanggal 31                         contractual payments as of December 31, 2025 and
                Desember 2025 dan 2024.                                                      2024.




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                                                                                                                                               283
Page 286
PT CAKRA BUANA RESOURCES ENERGI TBK                                                        PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                       NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                       For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                                  (Expressed in Rupiah unless otherwise stated)

34. KEBIJAKAN DAN MANAJEMEN RISIKO KEUANGAN                                 34. FINANCIAL RISK MANAGEMENT AND POLICIES

    c.   Risiko Liabilitas (lanjutan)                                           c. Liabilities Risk (continued)
                                                      31 Desember 2025/ December 31, 2025
                                < 1 tahun/years       1-5 tahun/years        > 5 tahun/years             Jumlah/Amount

         Utang usaha               19.301.198.404        2.264.362.283                         -            21.565.560.687      Account payables
         Utang lain-lain          758.701.750.189                             973.921.767.222             1.732.623.517.411       Other payables
         Pinjaman bank             17.017.591.627       51.496.507.589        118.668.889.284              187.182.988.500            Bank loans
         Utang pembiyaan                          -                     -                      -                         -    Financing payables
         Liabilitas sewa            1.221.476.287        5.132.768.079                         -              6.354.244.365       Lease liabilities

         Jumlah                   796.242.016.507       58.893.637.950       1.092.590.656.506            1.947.726.310.963                  Total


                                                      31 Desember 2024/ December 31, 2024
                                < 1 tahun/years       1-5 tahun/years        > 5 tahun/years             Jumlah/Amount

         Utang usaha                1.351.967.204       12.799.604.271                         -            14.151.571.475      Account payables
         Utang lain-lain           20.406.095.714                       -                      -            20.406.095.714        Other payables
         Pinjaman bank             21.223.542.261      110.885.474.810           3.045.142.854             135.154.159.925            Bank loans
         Utang pembiyaan                167.570.850                     -                      -               167.570.850    Financing payables
         Liabilitas sewa            5.241.383.211       13.449.891.658                         -            18.691.274.869        Lease liabilities
         Jumlah                    48.390.559.240      137.134.970.739           3.045.142.854             188.570.672.833                   Total


    Manajemen Permodalan                                                    Capital Management

    Tujuan utama Perusahaan dalam mengelola permodalan                      The Company's main objective in managing capital is to protect
    adalah melindungi kemampuan Perusahaan dalam                            the Company's ability to maintain its business continuity. In this
    mempertahankan kelangsungan usahanya. Dengan                            way, the Company can provide adequate returns to
    demikian, Perusahaan dapat memberikan imbal hasil yang                  shareholders and also provide benefits to other stakeholders.
    memadai kepada para pemegang saham serta juga
    sekaligus memberikan manfaat bagi para pemangku
    kepentingan lainnya.

    Dalam mengelola permodalan tersebut, manajemen                          In managing its capital, management consistently monitors the
    senantiasa memperhatikan pemeliharaan rasio modal yang                  maintenance of a sound capital ratio between total liabilities and
    sehat antara jumlah liabilitas dan ekuitas. Penyesuaian                 equity. Adjustments to the financial structure are made in
    terhadap struktur keuangan dilakukan berdasarkan                        response to changes in economic conditions and the risk
    perubahan kondisi ekonomi dan karakteristik risiko aset yang            characteristics of the underlying assets. In addition, policies are
    mendasari. Di samping itu, kebijakan diarahkan untuk                    directed toward maintaining a healthy capital structure in order
    mempertahankan struktur permodalan yang sehat guna                      to secure access to funding at a reasonable cost.
    mengamankan akses terhadap pendanaan pada biaya yang
    wajar.




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284          PT CAKRA BUANA RESOURCES ENERGI Tbk                                                              Laporan Tahunan dan Keberlanjutan 2025
Page 287
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                   For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                         (Expressed in Rupiah unless otherwise stated)

       34. KEBIJAKAN DAN MANAJEMEN RISIKO KEUANGAN                             34. FINANCIAL RISK MANAGEMENT AND POLICIES

           Manajemen Permodalan (lanjutan)                                     Capital Management (continued)

           Rasio pengungkit pada tanggal 31 Desember 2025 dan 2024             The leverage ratio as of December 31, 2025 and 2024 is as
           adalah sebagai berikut:                                             follows:

                                                  31 Desember 2025/             31 Desember 2024/
                                                  December 31, 2025             December 31, 2024

           Total Liabilitas                         1.958.334.418.627                216.532.352.230                             Total Liabilities
           Dikurangi :                                                                                                                    Less :
             Kas dan setara kas                        14.299.014.327                  3.251.404.222                 Cash and cash equivalents
           Liabilitas neto                          1.944.035.404.300                213.280.948.008                             Net Liabilities
           Total ekuitas                               46.909.504.754                117.120.494.942                               Total Equity
           Rasio pengungkit                                     41,44                           1,82                            Leverage Ratio

       35. REKLASIFIKASI AKUN                                                  35. ACCOUNT RECLASSIFICATION

           Terdapat reklasifikasi untuk menyesuaikan dengan penyajian               There is a reclassification to conform with the presentation
           laporan keuangan periode 31 Desember 2024 untuk tujuan                   of the financial statements for the period December 31,
           perbandingan. Akun yang telah direklasifikasi adalah sebagai             2024 for comparative purposes. The accounts that have
           berikut:                                                                 been reclassified are as follows:

                                                                                31 Desember 2024/ December 31, 2024
           Laporan Posisi Keuangan/                        Sebelum Reklasifikasi/          Reklasifikasi/         Setelah Reklasifikasi/
           Statement Of Financial Position                 Before Reclasification         Reclasification          After Reclasification

           Aset Lancar/ Current Assets
           Piutang lain-lain/ Other receivables
             Pihak berelasi/ Related parties                        2.988.885.984                  (2.988.885.984)                              -

           Aset Tidak Lancar/ Non Current Assets
           Piutang lain-lain/ Other receivables
             Pihak berelasi/ Related parties                                    -                   2.988.885.984                  2.988.885.984

           Liabilitas Jangka Pendek/ Current Liabilities
           Utang usaha/ Account payables
             Pihak ketiga/ Third parties                              300.000.000                    (300.000.000)                              -
           Utang lain-lain/ Other payables
             Pihak berelasi/ Related parties                       20.136.095.714                (19.836.095.714)                    300.000.000

           Liabilitas Jangka Panjang/ Non Current Liabilities
           Utang lain-lain/ Other payables
             Pihak berelasi/ Related parties                                    -                  20.136.095.714                20.136.095.714




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Page 288
PT CAKRA BUANA RESOURCES ENERGI TBK                                             PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                             For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                  (Expressed in Rupiah unless otherwise stated)

36. SEGMEN OPERASI                                                 36. OPERATION SEGMENT

    Segmen operasi yang dilaporkan sesuai dengan informasi         The reported of operating segments are in accordance with the
    yang digunakan oleh pengambil keputusan operasional            information used by operational decision makers in allocating
    dalam rangka mengalokasikan sumber daya dan menilai            resources and assessing the performance of operating
    kinerja segmen operasi sebagai berikut:                        segments are as follows:
                                               31 Desember 2025/ December 31, 2025
                                   Pendapatan Sewa         Pendapatan
                                        Kapal/         Manajemen Kapal/
                                    Vessel Rental      Ship Management             Jumlah/
                                      Revenue               Revenue                 Total
    Aset                                                                                                              Assets
    Aset segmen                     2.005.243.923.381                      -   2.005.243.923.381               Segment assets
    Liabilitas                                                                                                     Liabilities
    Liabilitas segmen               1.958.334.418.627                      -   1.958.334.418.627             Segment iabilities
    Pendapatan                         53.296.574.216        1.866.634.143        55.163.208.359                      Revenues
    Beban pokok pendapatan            (51.831.443.469)      (1.815.320.093)      (53.646.763.562)              Cost of revenues
    Laba kotor                          1.465.130.747           51.314.050         1.516.444.797                  Gross profit

    Beban umum                                                                                                      General and
      dan administrasi                (31.790.879.159)                     -     (31.790.879.159)     administrative expenses
    Penghasilan (beban)                                                                                            Other income
      lain-lain - neto                (20.143.445.664)                     -     (20.143.445.664)            (expenses) - net
    Rugi usaha                        (50.469.194.075)          51.314.050       (50.417.880.025)                Operating loss
    Biaya keuangan                    (19.275.106.074)                   -       (19.275.106.074)             Finance expenses
    Rugi usaha sebelum pajak                                                                          Operating loss before tax
      per segmen                      (69.744.300.150)         51.314.050        (69.692.986.100)                 per segmen

                                               31 Desember 2024/ December 31, 2024
                                   Pendapatan Sewa         Pendapatan
                                        Kapal/         Manajemen Kapal/
                                    Vessel Rental      Ship Management             Jumlah/
                                      Revenue               Revenue                 Total
    Aset                                                                                                              Assets
    Aset segmen                       298.883.596.583       34.769.250.589      333.652.847.172                Segment assets
    Liabilitas                                                                                                     Liabilities
    Liabilitas segmen                 205.335.928.960       11.196.423.270      216.532.352.230              Segment iabilities
    Pendapatan                         54.044.535.226        8.129.060.820        62.173.596.046                      Revenues
    Beban pokok pendapatan            (48.782.901.078)      (7.337.636.787)      (56.120.537.866)              Cost of revenues
    Laba kotor                          5.261.634.148          791.424.032         6.053.058.180                  Gross profit

    Beban umum                                                                                                      General and
      dan administrasi                (32.576.623.273)                 -         (32.576.623.273)     administrative expenses
    Penghasilan (beban)                                                                                            Other income
      lain-lain - neto                 (9.726.188.741)                 -          (9.726.188.741)            (expenses) - net
    Rugi usaha                        (37.041.177.866)         791.424.032       (36.249.753.834)                Operating loss
    Biaya keuangan                    (14.665.557.902)                   -       (14.665.557.902)             Finance expenses
    Rugi usaha sebelum pajak                                                                            Loss before income tax
      per segmen                      (51.706.735.768)        791.424.032        (50.915.311.736)                 per segmen




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Page 289
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                               For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah unless otherwise stated)

       36. SEGMEN OPERASI (lanjutan)                                          36. OPERATION SEGMENT (continued)

           Perusahaan berdomisili di Indonesia dan tidak terdapat                The Company is domiciled in Indonesia and does not have
           aktivitas signifikan di luar negeri sehingga tidak terdapat           significant activities outside Indonesia; therefore, no
           klasifikasi berdasarkan segmen geografis pada 31                      geographical segment information is presented as of
           Desember 2025 dan 2024.                                               December 31, 2025 and 2024.

       37. ASET DAN LIABILITAS DALAM MATA UANG ASING                          37. ASSET AND LIABILITIES IN FOREIGN CURRENCY
                                                       31 Desember 2025/ December 31, 2025
                                                  Mata Uang Asing/             Ekuivalen Rupiah/
                                                  Foreign currency            Rupiah Equivalents

           Aset                                                                                                                       Asset
           Piutang usaha                        USD          750.000              Rp13.962.352.500                       Account receivables
           Piutang lain-lain                    USD          300.000               Rp5.034.600.000                         Other receivables
           Liabilitas                                                                                                             Liabilities
           Utang usaha                          USD          113.534               Rp1.905.321.212                        Account payables
           Utang lain-lain - pihak ketiga                                                                      Other payables - Third parties
             Jangka pendek                      USD        45.000.000            Rp755.190.000.000                      Current Liabilities
             Jangka panjang                     USD        55.000.000            Rp931.068.410.750                  Non-Current Liabilities

       38. PERJANJIAN-PERJANJIAN PENTING                                      38. SIGNIFICANT AGREEMENTS

           1.   PT Catur Dharma Anugerah Surya                                   1. PT Catur Dharma Anugerah Surya
                Berdasarkan Surat Perjanjian Sewa Menyewa Kantor                     Based on Office Lease Agreement No.
                No. 0003/LOA/CDAS-CBRE/VII/2022 tanggal 04 Juli                      0003/LOA/CDAS-CBRE/VII/2022 dated July 4, 2022,
                2022, Perusahaan mengadakan Perjanjian dengan PT                     the Company entered into an agreement with PT Catur
                Catur Dharma Anugerah Surya mengenai Pemanfaatan                     Dharma Anugerah Surya regarding the utilization and
                dan sewa aset berupa ruangan seluas 269,90 sqm yang                  lease of an asset in the form of office space with a total
                terletak di Gedung Sahid Sudirman Center Lantai 42                   area of 269.90 sqm located at Sahid Sudirman Center
                ruang B yang digunakan sebagai kantor Perusahaan.                    Building, 42nd Floor, Room B, which is used as the
                Atas sewa tersebut, Perusahaan diwajibkan untuk                      Company’s office. Under the lease, the Company is
                membayar biaya sewa sebesar Rp150.000.000 (diluar                    required to pay rental fees of Rp150,000,000
                ketentuan perpajakan) dan deposit sebesar                            (exclusive of applicable taxes) and a security deposit of
                Rp350.000.000 yang akan dikembalikan pada saat akhir                 Rp350,000,000, which will be refundable at the end of
                masa sewa. Perjanjian dimulai sejak tanggal berita                   the lease term. The lease agreement commenced from
                acara serah terima dengan masa sewa selama 8 tahun.                  the date of the handover report with a lease term of
                                                                                     eight (8) years.

           2.   PT Mandala Armada Nusantara                                      2. PT Mandala Armada Nusantara
                Berdasarkan Surat Perjanjian Sewa Menyewa Kapal No.                  Based on Vessel Lease Agreement No. 001/TC/MAN-
                001/TC/MAN-CBRE/V/2022 sebagaimana telah diubah                      CBRE/V/2022, as most recently amended by
                terakhir kali dengan Amandemen II tanggal 30                         Amendment II dated December 30, 2022, the Company
                Desember 2022, Perusahaan mengadakan perjanjian                      entered into an agreement with PT Mandala Armada
                dengan PT Mandala Armada Nusantara mengenai                          Nusantara regarding the utilization and lease of assets
                Pemanfaatan dan Sewa Aset berupa 1 unit Kapal                        in the form of one (1) Tugboat vessel and one (1)
                Tugboat dan 1 unit Kapal Tongkang. Atas pemanfaatan                  Barge vessel. For the use of these assets, the
                aset tersebut, Perusahaan diwajibkan untuk membayar                  Company is required to pay a monthly rental fee of
                sewa sebesar Rp412.500.000 perbulan dan deposit                      Rp412,500,000 and a security deposit of
                sebesar Rp825.000.000 serta seluruh biaya perbaikan                  Rp825,000,000, as well as to bear all repair and
                dan pemeliharaan serta biaya perizinan. Perjanjian                   maintenance costs and licensing expenses. The lease
                berlaku selama 5 tahun dimulai tanggal 01 Agustus                    agreement is valid for a period of five (5) years
                2022 sampai dengan 31 Juli 2027.                                     commencing on August 1, 2022 and ending on July 31,




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                               For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                     (Expressed in Rupiah unless otherwise stated)

38. PERJANJIAN-PERJANJIAN PENTING (lanjutan)                           38. SIGNIFICANT AGREEMENTS (continued)

         Pada tahun 2025 perusahan mengahiri perjanjian sewa                  In 2025 the company terminated the lease agreement
         dengan PT Mandala Armada Nusantara sesuai surat                      with PT Mandala Armada Nusantara according to the
         penugasan pengakhiran tanggal 1 April 2025.                          termination assignment letter dated April 1 2025.

    3.   PT SYS Petrolindo Utama                                          3. PT SYS Petrolindo Utama
         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                      Based on Vessel Lease Agreement No.
         No.0010/TC/CBRE-SYS/XI/2024 tanggal 25 November                      0010/TC/CBRE-SYS/XI/2024 dated November 25,
         2024. Perusahaan mengadakan Perjanjian dengan PT                     2024, the Company entered into an agreement with PT
         SYS Petralindo Utama mengenai Pemanfaatan dan                        SYS Petralindo Utama regarding the utilization and
         Sewa Aset berupa MV Majstic Laksono. Perusahaan                      lease of an asset in the form of MV Majestic Laksono.
         sebagai pemilik mewajibkan penyewa membayar sewa                     As the vessel owner, the Company requires the lessee
         sebesar Rp.145.000.000,- (seratus empat puluh lima                   to pay a daily rental fee of Rp145,000,000 (one
         juta rupiah) belum termasuk PPN per hari dan depoait                 hundred forty-five million Rupiah), excluding value-
         satu bulan sewa. Perjanjian berlaku sejak tanggal 25                 added tax (VAT), and a security deposit equivalent to
         November 2024 sampai dengan 24 November 2029 dan                     one month’s rental. The lease agreement is valid from
         dapat diperpanjang sesuai dengan kesepakatan kedua                   November 25, 2024 to November 24, 2029 and may be
         belah pihak.                                                         extended subject to mutual agreement of both parties.



         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                      Based on the Vessel Lease Agreement No.
         No.001/TC/CBRE-SYS/X/2025 tanggal 27 Oktober                         001/TC/CBRE-SYS/X/2025 dated October 27, 2025.
         2025. Perusahaan mengadakan Perjanjian dengan PT                     The Company entered into an Agreement with PT SYS
         SYS Petralindo Utama mengenai Pemanfaatan dan                        Petralindo Utama regarding the Utilization and Lease of
         Sewa Aset berupa MV Majstic Laksono. Perusahaan                      Assets in the form of MV Majstic Laksono. The
         sebagai pemilik mewajibkan penyewa membayar sewa                     Company, as the owner, requires the lessee to pay a
         sebesar Rp.174.000,- (seratus tujuh puluh empat ribu                 lease fee of IDR 174,000 (one hundred seventy-four
         rupiah)per MT belum termasuk PPN. Perjanjian berlaku                 thousand rupiah) per MT, excluding VAT. The
         sejak tanggal 27 Oktober 2025 sampai dengan 3                        Agreement is effective from October 27, 2025, until
         November 2025 dan dapat diperpanjang sesuai dengan                   November 3, 2025, and may be extended by mutual
         kesepakatan kedua belah pihak.                                       agreement between the parties.

    4.   PT Vama Samudera Jaya                                            4. PT Vama Samudera Jaya

         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                      Based on Vessel Lease Agreement No.
         No.0001/TC/CBRE-VSJ/I/2025 tanggal 31 Januari 2025.                  0001/TC/CBRE-VSJ/I/2025 dated January 31, 2025,
         Perusahaan mengadakan Perjanjian dengan PT Vama                      the Company entered into an agreement with PT Vama
         Samudera Jaya mengenai Pemanfaatan dan Sewa Aset                     Samudera Jaya regarding the utilization and lease of
         berupa Tk. Matahari 3016. Perusahaan sebagai pemilik                 an asset in the form of MV Majestic Laksono. As the
         mewajibkan penyewa membayar sewa sebesar                             vessel owner, the Company requires the lessee to pay
         Rp.650.000.000,- (enam ratus lima puluh juta rupiah)                 a daily rental fee of Rp145,000,000 (one hundred forty-
         belum termasuk PPN per hari dan deposit satu bulan                   five million Rupiah), excluding value-added tax (VAT),
         sewa. Perjanjian berlaku sejak tanggal 31 Januari 2025               and a security deposit equivalent to one month’s rental.
         sampai dengan 31 Juli 2025 dan dapat diperpanjang                    The agreement is effective from January 31, 2025 until
         sesuai dengan kesepakatan kedua belah pihak.                         July 31, 2025 and may be extended subject to mutual
                                                                              agreement of the parties.




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Page 291
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                 PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                      (Expressed in Rupiah unless otherwise stated)

       38. PERJANJIAN-PERJANJIAN PENTING (lanjutan)                            38. SIGNIFICANT AGREEMENTS (continued)

           4.   PT Vama Samudera Jaya (lanjutan)                                  4. PT Vama Samudera Jaya (lanjutan)

                Terdapat amademen dimana pemilik mewajibkan                           There is an amendment where the owner requires the
                penyewa membayar sewa sebesar Rp.550.000.000,-                        tenant to pay rent of Rp. 550,000,000 (five hundred
                (lima ratus lima puluh juta rupiah) dan efektif pada                  and fifty million rupiah) and is effective in the July
                periode pembayaran bulan Juli.                                        payment period.

           5.   PT Mitra Bahari Internusa                                         5. PT Mitra Bahari Internusa
                Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                       Based on Vessel Lease Agreement No.
                No.0009/TC/CBRE-MBI/IX/2025 tanggal 27 September                      0009/TC/CBRE-MBI/IX/2025 dated September 27,
                2024. Perusahaan mengadakan Perjanjian dengan PT                      2024, the Company entered into an agreement with PT
                Mitra Bahari Internusa mengenai Pemanfaatan dan                       Mitra Bahari Internusa regarding the utilization and
                Sewa Aset berupa Tb.KBS 208 dan Tk.GTO 395.                           lease of an asset in the form of Tk.KBS 208 and
                Perusahaan sebagai pemilik mewajibkan penyewa                         Tk.GTO 395. As the vessel owner, the Company
                membayar sewa sebesar Rp.1.000.000.000,- (satu                        requires the lessee to pay a daily rental fee of
                miliar rupiah) belum termasuk PPN dan deposit satu                    Rp1,000,000,000 (one billion Rupiah), excluding value-
                bulan sewa. Perjanjian berlaku sejak tanggal 27                       added tax (VAT), and a security deposit equivalent to
                September 2024 sampai dengan 27 September 2025                        one month’s rental. The lease agreement is valid from
                dan dapat diperpanjang sesuai dengan kesepakatan                      September 27, 2024 to September 27, 2025 and may
                kedua belah pihak.                                                    be extended subject to mutual agreement of both
                                                                                      parties.

           6.   PT Padas Mustapa Jaya                                             6. PT Padas Mustapa Jaya

                Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                       Based on the Vessel Lease Agreement No.
                No.0008/TC/CBRE-PMJ/VIII/2024 tanggal 16 Agustus                      0008/TC/CBRE-PMJ/VIII/2024 dated August 16, 2024,
                2024. Perusahaan mengadakan Perjanjian dengan PT                      the Company entered into an agreement with PT Pada
                Pada Mustapa Jaya mengenai Pemanfaatan dan Sewa                       Mustapa Jaya regarding the utilization and lease of
                Aset berupa Tk.Wecoy 1801. Perusahaan sebagai                         assets in the form of Tk.Wecoy 1801. The Company,
                pemilik mewajibkan penyewa membayar sewa sebesar                      as the owner, requires the lessee to pay a rental fee of
                Rp.225.000.000,- (dua ratus dua puluh lima juta rupiah)               IDR 225,000,000 (two hundred twenty-five million
                belum termasuk PPN per hari dan deposit satu bulan                    rupiah) per day, excluding VAT, and a one-month
                sewa. Perjanjian berlaku sejak tanggal 16 Agustus 2024                rental deposit. The agreement is valid from August 16,
                sampai dengan 16 Februari 2025 dan dapat                              2024, to February 16, 2025, and may be extended by
                diperpanjang sesuai dengan kesepakatan kedua belah                    mutual agreement between the parties.
                pihak.

                Terdapat Amandemen I perpajangan kontrak terhitung                    There is Amendment I extending the contract from
                sejak 1 Maret 2025 sampai dengan 28 Februari 2026,                    March 1, 2025, to February 28, 2026, with the provision
                dengan ketentuan pembayaran sewa periode 1 Maret                      that the rent payment for the period March 1, 2025, to
                2025 - 31 Mei 2025 sebesar Rp.235.000.000,- (dua                      May 31, 2025, is IDR 235,000,000 (two hundred thirty-
                ratus tiga puluh lima juta rupiah) belum termasuk PPN                 five million rupiah) excluding VAT, and for the period
                serta periode 1 Juni 2025 - 31 Agustus 2025 sebesar                   from June 1, 2025 to August 31, 2025, the rent is IDR
                Rp240.000.000,- (dua ratus empat puluh juta rupiah)                   240,000,000 (two hundred forty million rupiah)
                belum termasuk pajak. Terdapat Amademen II terkait                    excluding tax. There is an amendment II regarding the
                perubahan      biaya      sewa     perbulan    sebesar                change in the monthly rent amount of IDR 220,000,000
                Rp.220.000.000,- (dua ratus dua puluh juta rupiah)                    (two hundred twenty million rupiah), excluding VAT.
                belum termasuk PPN.




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Annual and Sustainability Report 2025                                            PT CAKRA BUANA RESOURCES ENERGI Tbk
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Page 292
PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

38. PERJANJIAN-PERJANJIAN PENTING (lanjutan)                              38. SIGNIFICANT AGREEMENTS (continued)

    7.   PT Dwi Jaya Samudra                                                 7. PT Dwi Jaya Samudra

         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                         Based on the Vessel Lease Agreement No.
         No.0003/TC/CBRE-DJS/IX/2025 tanggal 16 September                        0003/TC/CBRE-DJS/IX/2025 dated September 16,
         2025. Perusahaan mengadakan Perjanjian dengan PT                        2025. The Company entered into an Agreement with
         Dwi Jaya Samudra mengenai Pemanfaatan dan Sewa                          PT Dwi Jaya Samudra regarding the Utilization and
         Aset berupa Tk. Cakrawala 3010. Perusahaan sebagai                      Lease of Assets in the form of Tk. Cakrawala 3010.
         pemilik mewajibkan penyewa membayar sewa sebesar                        The Company, as the owner, requires the lessee to pay
         Rp.425.000.000,- (empat ratus dua puluh lima juta                       a lease fee of IDR 425,000,000 (four hundred twenty-
         rupiah) belum termasuk PPN per hari dan depoait satu                    five million rupiah) excluding VAT per day and a one-
         bulan sewa. Perjanjian berlaku sejak tanggal 16                         month lease deposit. The Agreement is effective from
         September 2025 sampai dengan 16 Maret 2026 dan                          September 16, 2025, until March 16, 2026, and may be
         dapat diperpanjang sesuai dengan kesepakatan kedua                      extended by mutual agreement between the parties.
         belah pihak.

    8.   PT Bahari Sentosa Bersatu                                           8. PT Bahari Sentosa Bersatu

         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                         Based on the Vessel Lease Agreement No.
         No.0002/TC/CBRE-BSB/IX/2025 tanggal 8 September                         0002/TC/CBRE-BSB/IX/2025 dated September 8,
         2025. Perusahaan mengadakan Perjanjian dengan PT                        2025. The Company entered into an Agreement with
         Bahari Sentosa Bersatu mengenai Pemanfaatan dan                         PT Bahari Sentosa Bersatu regarding the Utilization
         Sewa Aset berupa Tk. GTO 395. Perusahaan sebagai                        and Lease of Assets in the form of Tk. GTO 395. The
         pemilik mewajibkan penyewa membayar sewa sebesar                        Company, as the owner, requires the lessee to pay a
         Rp.500.000.000,- (lima ratus juta rupiah) belum                         lease fee of IDR 500,000,000 (five hundred million
         termasuk PPN per hari dan deposit satu bulan sewa.                      rupiah) excluding VAT per day and a one-month lease
         Perjanjian berlaku sejak tanggal 8 September 2025                       deposit. The Agreement is effective from September 8,
         sampai dengan 8 September 2026 dan dapat                                2025, until September 8, 2026, and may be extended
         diperpanjang sesuai dengan kesepakatan kedua belah                      by mutual agreement between the parties.
         pihak.

    10. PT Gunanusa Utama Fabricators                                        10. PT Gunanusa Utama Fabricators

         Berdasarkan Surat Perjanjian Sewa Menyewa Kapal No.                     Based on the Ship Lease Agreement No. 0001/TC-
         0001/TC-OFFSHORE/CBRE-GNUF/JKT/X/2025 tanggal                           OFFSHORE/CBRE-GNUF/JKT/X/2025 dated October
         31 Oktober 2025, Perusahaan mengadakan perjanjian                       31, 2025, the Company entered into an agreement with
         dengan PT Guna Nusa Utama Fabricators terkait                           PT Guna Nusa Utama Fabricators regarding the
         pemanfaatan dan sewa aset kapal Hailong 106. Masa                       utilization and lease of the Hailong 106 ship. The lease
         sewa berlaku sejak tanggal serah terima kapal yang                      period is valid from the date of handover of the vessel,
         ditandai dengan penandatanganan Berita Acara Serah                      marked by the signing of the Handover Report (BAST)
         Terima (BAST) on hire oleh kedua belah pihak selama                     on hire by both parties for a period of 5 years and can
         5 tahun dan dapat diperpanjang 2 tahun. Kapal wajib                     be extended for 2 years. The vessel must be handed
         diserahkan kepada penyewa paling lambat 31                              over to the lessee no later than December 31, 2025.
         Desember 2025. Tarif sewa ditetapkan sebesar USD                        The lease rate is set at USD 90,000 (ninety thousand
         90.000,- (sembilan puluh ribu dollar Amerika Serikat) per               US dollars) per day from the date of hire until the date
         hari sejak on hire hingga off hire .                                    of off hire.




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Page 293
       PT CAKRA BUANA RESOURCES ENERGI TBK                                                   PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                  For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                        (Expressed in Rupiah unless otherwise stated)

       38. PERJANJIAN-PERJANJIAN PENTING (lanjutan)                              38. SIGNIFICANT AGREEMENTS (continued)

           10. PT Guna Nusa Utama Fabricators (lanjutan)                            10. PT Guna Nusa Utama Fabricators (lanjutan)

               Selain itu, terdapat tarif masa siaga sebesar USD                        In addition, there is a standby rate of USD 50,000 (fifty
               50.000,- (lima puluh ribu dollar Amerika Serikat) per hari               thousand United States Dollars) per day, being the
               yaitu tarif sewa harian yang dikenakan ketika kapal tidak                daily charter rate charged when the vessel is not in
               sedang dioperasikan tapi dalam keadaan siap pakai                        operation but remains on standby in ready condition in
               sesuai instruksi. Penyewa menanggung biaya                               accordance with instructions. The lessee shall bear
               operasional seperti bahan bakar, biaya kru, port                         operational costs such as fuel, crew costs, port
               clearance, standby rate (kecuali force majeure ),                        clearance, standby rate (except in cases of force
               mobilization fee , dan demobilization . Perusahaan                       majeure), mobilization fee, and demobilization. The
               berkewajiban melakukan perawatan rutin serta                             company is obligated to perform routine maintenance
               menyediakan asuransi kapal (Hull & Machinery ),                          and provide hull and machinery insurance, while the
               sedangkan        penyewa       menanggung       asuransi                 lessee is responsible for commercial general liability
               Commercial General Liability dan Protection &                            and protection and indemnity insurance.
               Indemnity .

           11. PT Landseadoor International Shipping                                11. PT Landseadoor International Shipping

               Berdasarkan Surat Perjanjian Sewa Menyewa Kapal                          Based on the Vessel Lease Agreement No.
               No.TC/0004/CBRE-LIS/XII/2025 tanggal 18 Desember                         TC/0004/CBRE-LIS/XII/2025 dated December 18,
               2025. Perusahaan mengadakan Perjanjian dengan PT                         2025. The Company entered into an Agreement with
               Landseadoor     International Shipping mengenai                          PT Landseadoor International Shipping regarding the
               Pemanfaatan dan Sewa Aset berupa MV Majestic                             Utilization and Lease of Assets in the form of MV
               Laksono. Perusahaan sebagai pemilik mewajibkan                           Majestic Laksono. The Company, as the owner,
               penyewa membayar sewa sebesar USD 8,900,-                                requires the lessee to pay a lease fee of USD 8,900
               (delapan ribu sembilan ratus Dollar Amerika Serikat)                     (eight thousand nine hundred United States Dollars)
               belum termasuk PPN per hari. Perjanjian berlaku sejak                    excluding VAT per day. The Agreement is effective
               tanggal 18 Desember 2025 sampai dengan 17                                from December 18, 2025, until September 17, 2026,
               September 2026 dan dapat diperpanjang sesuai dengan                      and may be extended by mutual agreement between
               kesepakatan kedua belah pihak.                                           the parties.

           12. Hilong Shipping Holding Limited                                      12. Hilong Shipping Holding Limited

               Pada tanggal 11 Agustus 2025, Perusahaan melalui PT                      On 11 August 2025, the Company through PT Cakra
               Cakra Buana Resources menandatangani perjanjian                          Buana Resources entered into a vessel purchase
               pembelian kapal Hai Long 106 dengan Hilong Shipping                      agreement for Hai Long 106 with Hilong Shipping
               Holding Limited dengan nilai transaksi sebesar USD                       Holding Limited with a total transaction value of USD
               100.000.000.                                                             100,000,000.

               Berdasarkan perjanjian tersebut, pembayaran dilakukan                    Based on the agreement, the payment will be made in
               secara bertahap, yang terdiri dari uang muka tunai                       stages, consisting of a cash down payment of USD
               sebesar USD 30.000.000 dan penerbitan surat janji                        30,000,000 and the issuance of a promissory note with
               bayar (promissory note) dengan opsi konversi sebesar                     a conversion option amounting to USD 25,000,000.
               USD 25.000.000.

               Sisa nilai pembelian sebesar USD 45.000.000 akan                         The remaining purchase price of USD 45,000,000 will
               dibayarkan oleh Perusahaan sesuai dengan ketentuan                       be settled by the Company in accordance with the
               yang diatur dalam perjanjian.                                            terms of the agreement.




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PT CAKRA BUANA RESOURCES ENERGI TBK                                                      PT CAKRA BUANA RESOURCES ENERGI TBK
CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO FINANCIAL STATEMENTS
Untuk tahun yang berakhir 31 Desember 2025 dan 2024                                      For the years ended December 31, 2025 and 2024
(Disajikan dalam Rupiah, kecuali dinyatakan lain)                                            (Expressed in Rupiah unless otherwise stated)

39. KELANGSUNGAN USAHA                                                     39. GOING CONCERN

    Perusahaan mengalami kerugian terus menerus dalam                          The Company incurred recurring operating losses, resulting
    operasinya sehingga mengakibatkan rugi tahun berjalan                      in a significant loss for the year ended December 31, 2025
    yang signifikan untuk tahun yang berakhir 31 Desember                      amounting to Rp70,35 billion (2024: 51,66 billion), and
    2025 sebesar Rp70.35 milliar (2024: 51.66 miliar), serta                   reported an accumulated loss as of December 31, 2025 of
    melaporkan akumulasi rugi pada tanggal 31 Desember 2025                    Rp126,14 billion. In addition, the total current liabilities as of
    sebesar Rp126.14 miliar. Selain itu, total liabilitas lancar               December 31, 2025 have exceeded the total current assets
    pada tanggal 31 Desember 2025 telah melampui total aset                    of Rp754,35 billion. This indicates the existence of material
    lancarnya sebesar Rp754.35 miliar. Hal tersebut                            uncertainty regarding the Company’s ability to continue as a
    mengindikasikan adanya keraguan signifikan mengenai                        going concern. To address these conditions, the
    kelangsungan usaha Perusahaan. Untuk mengatasi kondisi                     Company’s management has taken and will take the
    tersebut, manajemen Perusahaan telah dan akan mengambil                    following actions, among others:
    tindakan-tindakan antara lain sebagai berikut:
    1. Menjaga pinjaman bank pada tingkat yang dapat                           1. Maintain bank loans at an acceptable level;
         diterima;
    2. Secara berkala memastikan efisiensi biaya dan                           2. Periodically ensuring cost efficiency and effectiveness
         efektifitas pada supply chain ;                                          in the supply chain;
    3.   Memaksimalkan pendapatan dari pengoperasian dan                       3. To maximize revenue from the operation and
         penyewaan kapal Pipe Laying dan Offshore Vessel                          chartering of Pipe Laying and Offshore Vessels through
         melalui peningkatan armada.                                              fleet expansion.
    4.   Melakukan implementasi program efisiensi untuk                        3. To implement efficiency programs to improve the
         meningkatkan kinerja Perusahaan.                                         Company’s performance.

    Pemegang saham Perusahaan, telah menegaskan niatnya                        As of December 31, 2025, the Company’s shareholders
    pertanggal 31 Desember 2025 untuk senantiasa memberikan                    have affirmed their commitment to provide ongoing financial
    dukungan finansial kepada Perusahaan sehingga                              support to the Company, thereby enabling the Company to
    memungkinkan       Perseroan     memenuhi     kewajiban-                   fulfill its obligations when due.
    kewajibannya ketika jatuh tempo.

    Laporan keuangan tersebut tidak mencakup penyesuaian                       The financial statements do not include any adjustments
    yang mungkin timbul akibat ketidakpastian ini.                             that may result from this uncertainty.

40. INFORMASI TAMBAHAN ARUS KAS                                            40. ADDITIONAL INFORMATION OF CASH FLOW

    Transaksi non kas                                                          Non-cash transactions
    Transaksi non kas pada 31 Desember 2025 dan 2024                           Non-cash transactions as of December 31, 2025 and 2024
    dengan rincian sebagai berikut:                                            are as follows:

                                             31 Desember 2025/             31 Desember 2024/
                                             December 31, 2025             December 31, 2024

    Penambahan aset tetap diperoleh                                                                  Additions of fixed assets were acquired
      melalui utang                             1.672.320.000.000                             -                          through borrowings
    Penambahan aset tetap diperoleh                                                                  Additions of fixed assets were acquired
      melalui reklasifikasi                           874.746.601              42.343.802.366                       through reclassifications
    Pelepasan aset tetap                                                                                              Disposal of fixed assets
      melalui utang lain-lain                       (3.000.000.000)                           -                      through other payable




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292         PT CAKRA BUANA RESOURCES ENERGI Tbk                                                           Laporan Tahunan dan Keberlanjutan 2025
Page 295
       PT CAKRA BUANA RESOURCES ENERGI TBK                                             PT CAKRA BUANA RESOURCES ENERGI TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO FINANCIAL STATEMENTS
       Untuk tahun yang berakhir 31 Desember 2025 dan 2024                            For the years ended December 31, 2025 and 2024
       (Disajikan dalam Rupiah, kecuali dinyatakan lain)                                  (Expressed in Rupiah unless otherwise stated)

       41. KEJADIAN PENTING SETELAH PERIODE PELAPORAN                      41. EVENTS AFTER REPORTING PERIOD

           Tidak terdapat kejadian setelah periode pelaporan yang             There are no events after the reporting period that need to
           perlu disesuaikan atau diungkapkan dalam catatan laporan           be adjusted or disclosed in the notes to the financial
           keuangan untuk tahun yang berakhir pada tanggal 31                 statements for the year ending 31 December 2025.
           Desember 2025.




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294   PT CAKRA BUANA RESOURCES ENERGI Tbk                                  Laporan Tahunan dan Keberlanjutan 2025
Page 297
2025
Laporan Tahunan dan Berkelanjutan
Annual and Sustainability Report




                                        PT CAKRA BUANA RESOURCES ENERGI Tbk
                                        Sahid Sudirman Center, 42nd floor, Unit B
                                        Jl. Jend. Sudirman No.86 Jakarta Pusat 10220

                                        P (021) 2528444
                                        E corporate.secretary@cbre.co.id

                                        www.cbre.co.id




     www.cbre.co.id




Annual and Sustainability Report 2025                           PT CAKRA BUANA RESOURCES ENERGI Tbk
                                                                                                      295

File

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Names mentioned 161 people and organisations named in the text · linked when the evidence is strong

linked org CAKRA BUANA RESOURCES ENERGI Tbk p.1 ×426
linked person Amanda Octania p.2 ×19
linked person Andry Hakim. p.23 ×10
linked org PT Gunanusa Utama Fabricators p.23 ×2
linked person Suganto Gunawan · Komisaris Utama p.29 ×26
linked person R. Agung Laksono p.32 ×15
linked — Suminto Husin Giman p.35 ×19
linked person Raditia Christine Senjaya p.64 ×2
linked org Red Planet Indonesia Tbk p.66 ×10
linked org Omudas Investment p.66 ×12
linked org PT Crio Indonesia p.68 ×3
linked org Sanurhasta Mitra Tbk p.68 ×5
linked org Sejahteraraya Anugrahjaya Tbk p.69 ×11
linked — Catur Dharma Anugerah p.71 ×3
linked org Mitrabahtera Segara Sejati Tbk p.74 ×7
linked org Cisadane Sawit Raya Tbk p.74 ×4
linked org Elang Mahkota Teknologi Tbk p.75 ×2
linked — Herlienna Qisthi p.78
linked org Bes Trust Pte Ltd p.83 ×3
linked person Menteng, Jakarta Pusat p.116
possible org Otoritas Jasa Keuangan p.2 ×22
possible org Bursa Efek Indonesia p.11 ×7
possible person George Samuel · Commissioner p.32 ×11
possible org Negara Republik Indonesia p.42
possible person Suwito · Member p.64 ×3
possible person Kanaka Puradiredja p.84 ×5
unresolved org Financial Services Authority p.2 ×11
unresolved org Informasi Mengenai Obligasi p.4
unresolved org Indonesia Stock Exchange p.11 ×6
unresolved org PT Gunanusa Utama p.23 ×2
unresolved person George p.32
unresolved — Samuel · Komisaris p.32
unresolved person Rivolinggo p.32
unresolved person Rivolinggo Pamudji · Independent Commissioner p.32 ×5
unresolved — Pamudji · Komisaris Independen p.32
unresolved org PT Cakra Buana p.33 ×3
unresolved org Resources Energi Tbk. · Komisaris p.33 ×3
unresolved org PT Cakra p.39 ×2
unresolved org Buana Resources Energi Tbk. p.39 ×2
unresolved person Bonifasius S. Wibowo · Notaris p.42 ×3
unresolved org Menteri Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU- p.42
unresolved org Minister of Laws and Human Rights p.42
unresolved org PT Omudas Invesment Holdco p.43
unresolved org Hilong Holding Limited p.43
unresolved org Shipping Holding Limited p.43
unresolved person Yulia · Notaris p.48 ×4
unresolved org Minister of Law p.48
unresolved org Koordinasi Penanaman Modal p.50
unresolved org Menteri Perhubungan. p.50
unresolved org Minister of Transportation. Nomor Pokok Wajib Pajak p.50
unresolved org PT Cakra Buana Resources p.56 ×2
unresolved org Shanghai Zhen Huan Heavy Industries Builder Co.Ltd p.61
unresolved org PT Paribas Asia Equity p.66 ×2
unresolved org PT Peregrine Sewu p.66
unresolved org PT Peregrine Sewu Securities p.66
unresolved org PT Kim Eng Securities p.66 ×3
unresolved org PT Asia p.66
unresolved org PT Asia Electric Industries p.66
unresolved org PT Semesta p.66
unresolved org PT Semesta Indovest Indovest p.66
unresolved org PT Kim Eng p.66
unresolved org PT Omudas Investment Holdco p.66 ×11
unresolved org PT Republik Bogarasa p.66 ×4
unresolved org PT Mandala Armada Nusantara p.66 ×4
unresolved org PT Merah Putih Raya Energi p.66 ×4
unresolved org PT Merah Putih Raya Mineral p.66 ×4
unresolved org KOLL Asia Pacific Limited p.67 ×2
unresolved org Keuangan CBRE Limited p.67
unresolved org Finance Director CBRE Limited p.67
unresolved org CBRE Limited Limited p.67
unresolved org PT Red Planet Hotels Indonesia p.67 ×4
unresolved org Pusako Tarinka Tbk p.67 ×4
unresolved org Executive Officer Republik Capital Management Limited p.68
unresolved org PT Red Planet Hotel Bekasi p.68 ×2
unresolved org PT Planet Merah Sepuluh p.68 ×2
unresolved org PT Planet Merah Delapan p.68 ×2
unresolved org PT Planet Merah Sembilan p.68 ×2
unresolved org PT Planet Merah Depok p.68 ×2
unresolved org PT Red Planet Hotels Tangerang p.68 ×2
unresolved org PT Solusi Bintang Cemerlang p.68 ×2
unresolved org PT Red Planet Hotels Solo p.68 ×2
unresolved org PT Red Planet Hotel Makassar p.68 ×2
unresolved org PT Red Planet Hotel Palembang p.68 ×2
unresolved org PT Red Planet Hotel Pekanbaru p.68 ×2
unresolved org PT Red Planet Hotel Surabaya p.68 ×2
unresolved org PT Komodo Energy p.68 ×2
unresolved org PT Cakrawala Andalas Televisi p.69 ×4
unresolved org Menteri Koordinator Bidang Kesejahteraan Rakyat p.69 ×2
unresolved org PT Kratos Terra Energi p.70 ×2
unresolved org PT Sambal Nusantara p.70 ×2
unresolved org PT Soros Samudera Sejahtera p.70 ×2
unresolved org PT Astra p.71
unresolved org PT Geo Link Nusantara p.71 ×2
unresolved org GA Manager KE Babai Tanjung Limited p.71 ×2
unresolved org PT Urban Group Indonesia p.71 ×2
unresolved org PT Catur Dharma Anugerah Surya. p.71 ×3
unresolved org PT Itochu Export Indonesia p.74 ×2
unresolved org Senior Auditor KAP Drs. Hanadi Soejendro & Rekan p.74 ×2
unresolved person Drs. Hanadi Soejendro p.74 ×3
unresolved org PT Eye Corporation p.74 ×4
unresolved org PT Haura Media Raya p.74 ×2
unresolved org PT Insite Media p.74 ×2
unresolved org PT Mediatama p.74
unresolved org PT Mediatama Anugrah Citra p.74 ×5
unresolved org PT Mitrabahtera p.74
unresolved org Segara Sejati Tbk p.74 ×2
unresolved org PT Mitrabahtera Segara p.74 ×2
unresolved org Mitrabahtera Segara | 2014). Sejati p.74
unresolved org Sejati Tbk p.74 ×2
unresolved org Kementerian Keuangan p.75
unresolved org Ministry of Finance p.75
unresolved org Auditor KAP Hendrawinata Gani & Rekan p.75
unresolved org Hendrawinata Gani p.75 ×2
unresolved org Hendrawinata Gani & Rekan p.75
unresolved org PT Elang p.75
unresolved org Mahkota Teknologi Tbk p.75
unresolved org PT Omudas Delapan Raya p.77 ×4
unresolved org PT Omudas p.78
unresolved org PT Omudas Investment Holdco. Sehubungan p.80
unresolved person Citra Buana Tungga · Notaris p.82 ×3
unresolved org Menteri Hukum dan Hak Asasi Manusia Republik Indonesia p.82 ×2
unresolved org Minister of Law and Human Rights p.82 ×2
unresolved person Elsye Tri Handayani · Notaris p.82 ×3
unresolved org PT Republik Hotels p.83
unresolved org Kantor Akuntan Publik Public Accounting Firm Nama p.84
unresolved — Nama Akuntan p.84
unresolved person Aris Suryatna p.84
unresolved person Dr. Soepomo p.84
unresolved org PT Adimitra Jasa Korpora Name Kirana Boutique Office p.85
unresolved — Sahid Sudirman Center lt. 42 Unit B p.85
unresolved person Jenderal Sudirman p.85
unresolved — Situs Web: www.cbre.co.id p.85
unresolved — : corporate.secretary@cbre.co.id p.85
unresolved — Annual and Sustainability Report 2025 p.85
unresolved person Piagam · Komisaris p.86
unresolved org Energi Tbk p.87
unresolved org Kantor Akuntan Publik Kanaka Puradiredja p.96
unresolved org Kantor Akuntan Publik Kanaka p.96
unresolved org Bank Loans Liablitas Sewa p.98
unresolved person H. Thamrin p.116 ×2
unresolved org PT Pihak Independen Adimitra Jasa Korpora. p.116
unresolved person Notary Dr. Sugih Haryati p.116 ×4
unresolved org PT Adimitra Jasa Korpora. p.116
unresolved person Kanaka Pu-radiredja p.118
unresolved org Bapepam p.118 ×6
unresolved — Pengangkatan Bapak H.R. Agung Laksono · Komisaris Independen p.119 ×3
unresolved org Hilong Shipping Holding Limited p.120 ×2
unresolved org Kantor Jasa Penilai Publik Sapto p.120 ×2
unresolved org Kasmodiard & Rekan p.120 ×2
unresolved org KJPP SKR p.120 ×2
unresolved org KJPP Kusanto & Rekan p.120 ×2
unresolved org KJPP Kusanto p.120 ×2
unresolved org Kantor Jasa Penilai Publik Kusnanto & Rekan p.120 ×2
unresolved org Kantor Jasa Penilai Publik Kusnanto p.120 ×2
unresolved org KJPP KR p.120 ×2
unresolved org Kementerian Hukum Republik Indonesia p.121
unresolved org Ministry of Law p.122
unresolved org Pengawas Pasar Modal p.123
unresolved person Independensi · Komisaris Independen p.125
unresolved — c. Menggadaikan · atau p.130

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