Jakarta, April 1, 2026 – PT Bukit Asam (Persero) Tbk (PTBA) announced its audited consolidated financial results for the year ended December 31, 2025 (FY2025) to the Indonesia Stock Exchange (IDX) and Financial Services Authority (OJK). The Company’s FY2025 consolidated financial statements are accompanied by the independent audit report issued by Purwanto, Sungkoro, and Surja, a member firm of the global Ernst & Young network.

President Director Arsal Ismail stated:

“Amid continued pressure on global coal prices throughout 2025, PT Bukit Asam (Persero) Tbk (PTBA) remained able to maintain solid operational performance. The Company also recorded a sequential improvement in profitability, supported by optimization of its export market portfolio and enhanced cost efficiency. This performance is reflected in the continued growth of both production and sales volumes. In addition, optimal capital expenditure realization has provided a strong foundation to support the sustainability and future growth of the Company’s operational performance.”

Highlights

• PTBA recorded a net profit of IDR 2.93 trillion and EBITDA of IDR 6.08 Trillion, with an EBITDA margin of 14%.
• PTBA delivered solid operational performance, with production increasing by 9% YoY, followed by an 6% YoY increase in sales volume. Despite improved operational performance, the average selling price (ASP) declined by 6%, in line with the continued decline in coal prices, where Newcastle Coal Index (NCI) fell by 22% and ICI-3 decreased by 16% YoY.
• In terms of capital expenditure realization, 63% of the FY2025 target has been achieved, equivalent to IDR 4.55 Trillion.

Operational Performance

(in tons unless otherwise stated for stripping ratio)

Financial Performance

(in million Rupiah unless otherwise stated for earnings per share)

FINANCIAL PERFORMANCE ANALYSIS FOR FY2025 CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Revenue and Average Selling Price

PT Bukit Asam Tbk (PTBA) recorded revenue of IDR 42.65 trillion in FY2025, relatively flat on a year-on-year (YoY) basis. Although sales volume increased by 6% YoY, the decline in coal prices—reflected by a 22% YoY decrease in the Newcastle Index and a 16% YoY decline in ICI-3—resulted in a 6% YoY decrease in average selling price (ASP). As of end-December 2025, domestic sales accounted for 54%, while exports contributed 46% of total sales. The top five export destination countries were Bangladesh, India, Vietnam, South Korea, and the Philippines.

Cost of Goods Sold and Operating Expenses

COGS amounted to IDR 36.39 trillion, representing a 5% YoY increase. This increase was in line with higher operational volumes, with coal production rising by 9% YoY and transportation volume increasing by 6% YoY, despite a lower stripping ratio of 6.07x compared to 6.23x in the same period last year. In addition, the removal of subsidies on the FAME component in biodiesel and the mandatory implementation of B40 led to an increase in fuel prices per liter (+13% YoY), which in turn increased fuel costs for both mining activities and rail transportation.

General and administrative expenses increased by IDR 261.88 billion or 13% YoY, while selling expenses rose by 3% YoY or IDR 23.58 billion, in line with the 6% YoY increase in sales volume.

Finance Income, Finance Costs, and Share in Net Profit of Associates and Joint Ventures

The Company recorded finance income of IDR 219.50 billion, representing a 12% YoY decrease, mainly due to lower interest income from cash placements in banks, time deposits, and bonds. Finance costs amounted to IDR 325.93 billion, up 15% YoY, driven by higher interest expenses from bank borrowings. Meanwhile, the share of net profit from associates and joint ventures reached IDR 671.56 billion, reflecting a 5% YoY increase.

Net profit for the year attributable to owners of the parent entity: Rp2.93 Trillion