PT Aneka Tambang Tbk : 1st Quarter 2025

anTam *'

QUARTERLY REPORT PTANTAM TBK

(unaudite@

For the First Three Month Ended March 31, 2025

ARBN - 087 423 998

Securities Ticker: ASX: ATM, IDX:ANTM

ANTAM always strives to create value for society and the environment by achieving sustainable performance

HIGHLIGHTS

ANTAM Proves Operational Reliability with Impressive Performance across Commodity Segments in 1 Q25

All-time high quarterly production and sales of nickel ore in 1 Q25. ANTAM recorded nickel ore production reached 4.63 million wer metric ton (wmt) and nickel ore sales in 1 Q25 reached 3.83 million wmt

ANTAM maintained solid gold sales in 1 Q25. ANTAM recorded sales in 1 Q25 of 13,739 kg (441,719 troy oz.), with gold production in 1 Q25 reaching 230 kg (7,395 troy oz.).

Stable ferronickel production and sales in 1 Q25. Ferronickel production volume of4,498tons of nickel in ferronickel (TNi) and sales of 4,839 TNi.

Strengthened fundamental business of bauxite and alumina in 1 Q25. ANTAM recorded bauxite production volume of 653,781 wmt and bauxite sales volume of 544,750 wmt in 1 Q25. Meanwhile, Chemical Grade Alumina ("CGA") production volume of 44,051 tons of alumina, with sales of 44,048 tons of alumina.

ANTAM achieves Two Gold PROPERs for Best Mining Practices and Environmental Management Gold Investment Now within Your Hands, ANTAM Launches ANTAiVI Logam Mulia Mobile App

FOR FURTHER INFORMATION PLEASE CONTACT:

Syarif Faisal Alkadrie (Corporate Secretary) Tel : [phone]

Email : [e-mail]

CORPORATION INFORMATION AS OF MARCH 3J, 2025

Board of Commissioners Rauf Purnama

Gumilar Rusliwa Somantri Anang Sri Kusuwardono Bambang Sunarwibowo Dilo Seno Widagdo

Directors Nicolas D. Kanter Hartono

I Dewa Wirantaya

Arianto Sabtonugroho Rudjito Achmad Ardianto

President Commissioner and Independent Commissioner Independent Commissioner

Independent Commissioner Commissioner Commissioner

President Director

Director of Operations and Production Director of Business Development Director of Finance and Risk Management Director of Human Resources

Stock Information

• ANTAM's market capitalization as of 31 March 2025: IDR39.29 trillion.

• ANTAM's share price range on the Indonesia Stock Exchange (IDX) for the period of January to March 2025: IDR1,355-Rp1,690 per share.

• ANTAM's average share price on the IDX for 1 Q25: IDR1,532 per share.

• ANTAM's average share price on ASX for 1 Q25: AUS0.918 per CDI.

Top J0 Shareholders:

1. PT MINERAL INDUSTRI INDONESIA (PERSERO)

2. BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD BOARD-2039927326

3. DJS KETENAGAKERJAAN PROGRAM JHT

4. DJS KETENAGAKERJAAN PROGRAM JP

5. JPMCB NA RE - BLACKROCK INSTTR CO N A INVESTMENT FDS FOR EMPLOYEE BENEFIT TRUST

6. UBS AG LONDON-2140724000

7. JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND

8. JPMCB NA RE - VANGUARD EMERGING MARKETS STOCK INDEX FUND

9. DJS KETENAGAKERJAAN PROGRAM JAMINAN KECELAKAAN KERJA

10. JUNI SETIAWATI WONOWIDJOJO

CONSOLIDATED PRODUCTION VOLUME(UNAUDITED)

Commodity	Unit	1Q24 (Jan - Mar) 2024	1Q25 (Jan - Mar) 2025
Ferronickel	TNi	4.789	4.498
Nickel Ore	Wmt	1.443.189	4.632.619
Gold	Kg/t oz	166/5.337	230/7.395
Silver	Kg/t oz	876/28.164	1.347/43.307
Bauxite	Wmt	152.717	653.781
Chemical Grade Alumina	Ton	24.753	44.051

PRODUCTION AND SALES

In the first quarter period of 2025 (January-March 2025, 1 Q25), ANTAM still faces dynamics global macroeconomic and geopolitical conditions. Starting 2025 with solid readiness, ANTAM proves positive performance in 1 Q25, with solid production and sales achievements at optimal levels. This reflects the Company's focus on maintaining continuity of operations and consistently maximizing market potential.

As part of the effort to achieve the 2025 performance target, ANTAM continues to implement innovation on marketing strategy and cost-efficient management in all operation. A commitment to maintaining competitive and efficient cash cost levels is the key foundation for strengthening competitiveness and creating sustainable value for stakeholders.

As implement to Environmental, Social and Governance (ESG) principles, ANTAM committed to implementing of good mining practices and operation excellence in carry out the Company operational. Meanwhile, ANTAM managed the Occupational Health and Safety (OHS) system to achieve zero fatality, zero occupational diseases and the incidence of occupational diseases.

FERRONICKEL

In 1Q25, ANTAM managed to optimize the ferronickel production process by recording a

production volume of 4,498 tons of nickel in ferronickel (TNi), reach 94% form performance production of ferronickel in the first quarter period of 2024 (January -March 2024, 1Q24) of 4,789 TNi.

ANTAM's ferronickel sales volume in 1 Q25 was recorded at 4,839 TNi, a significant increase compared to 1Q24 which previously encountered licensing challenges. ANTAM's ferronickel product sales are fully absorbed by the export market, with the main export destination to China, South Korea and India.

As the market leading ferronickel refinery in Southeast Asia, during 1 Q25, ANTAM has a strategic role in meeting global demand in the stainless steel industry supply chain.

NICKEL ORE

ANTAM achieved the all-time high quarterly production in the Company's history, with nickel ore production in 1 Q25 reached of 4.63 million wet metric tons (wmt), a significant increase of 221% from 1 Q24 nickel ore production of 1.44 million wmt.

During 1 Q25, the nickel ore prpduction were utilised for internal raw materials for the Company's ferronickel production in Kolaka and domestic sales to third parties

ANTAM also recorded nickel ore sales in 1 Q25 amounting to 3.83 million wmt, a significant

increase of 281% compared to 1Q24 nickel ore sales of 1 million wmt.

GOLD

In 1 Q25, gold production from Company's mine reached 230 kg (7,395 troy oz.), increase 39% from gold production volume in 1 Q24 of 166 kg (5,337 troy oz.). In addition, gold sales volume in 1 Q25 reached 13,739 kg (441,719 troy oz.), increase of 93% compared to 1 Q24 sales of 7,1 1 2 kg (228,656 troy oz.).

The rising global gold prices, which continued until 1 Q25, driven by global macroeconomic factors and geopolitical conditions, boosted domestic gold demand.

Despite the increasing competition in the gold market, ANTAM maintains consumer trust as the brand of choice for Indonesians to invest in gold. Through a sales strategy focused on domestic market share and an approach that prioritizes quality, safety and ease of access, the Company remains top of mind for the community. This trust enables the growth of the ANTAM gold sales in 1Q25, and strengthening its position as a market leader amidst dynamical of industry.

ANTAM continues to innovate and offer easy access to customer of precious metal gold products. Through its Precious Metals Processing and Refinery Business Unit, ANTAM officially launched the ANTAM Logam Mulia mobile application, a digital platform that enables safer and more convenient physical gold transactions on March 18, 2025.

The application features BRANKAS (Berencana Annan Kelola ETTIâS), which was previously only available in the web based version. Currently,

customers can easily buy and sell gold, save, and access all BRANKAS services directly from their mobile devices, without the need to visit a Precious Metal Gold Boutique. This app uses a security system and insurance to protect your transactions, offering a sense of security for investing in gold anytime and anywhere.

BAUXITE

ANTAM recorded bauxite production volume growth in 1 Q25 reaching 653,781 wmt, a significant increase of 328% compared to 1 Q24 bauxite production of 152,717 wmt. ANTAM's bauxite production is used as raw material for the production of the Tayan Chemical Grade Alumina (CGA) Plant operated by PT Indonesia Chemical Alumina (PT ICA) and sales to domestic customers.

ANTAM recorded bauxite sales in 1 Q25 of 544,750 wmt, a significant increase compared to 1 Q24 which previously faced by licensing challenges.

CHECIMAL GRADE ALUMINA

In line with ANTAM's strategy in optimizing the operation of the Tayan CGA Plant in 1 Q25, PT ICA has produced 44,051 tons of alumina, an increase of 78% compared to 1 Q24 alumina production of 24,753 TNi. Meanwhile, alumina sales volume in 1 Q25 reached 44,048 tons of alumina, a 4% growth from alumina sales in 1 Q24 of 42,323 tons of alumina.

CGA production performance in 2025 is expected to increase to support sales and maintain existence of CGA products and export and domestic market share.

CONSOLIDATED SALES VOLUMES (UNAUDITED)

Commodity	Unit	JQ24 (Jan - Mar) 2024	JQ25 (Jan - Mar) 2025
Ferronickel	TNi		4.839
Nickel Ore	Wmt	1.003.791	3.828.779
Gold	Kg/t oz	7.1 1 2/228.656	13.739/441.719
Silver	Kg/t oz	650/20.898	1.254/40.317
Bauxite	Wmt		544.750
Chemical Grade Alumina	Ton	42.323	44.048

SUSTAINABLE BUSINESS DEVELOPMENT THROUGH MINERAL DOWNSTREAMING AND STRATEGIC PARTNERSHIPS

In the gold segment, to support the gold business operations through the production and sale of Precious Metal, ANTAM signed a land purchase agreement with Java Integrated Industrial and Ports Estate (JIIPE) in Gresik, East Java on December 27, 2024. Close to the location of the industrial park here PTFI's gold refining facility is located, ANTAM expects to develop precious metals processing facilities through the construction ofa manufacturing facility.

In the nickel segment, for the EV Battery Ecosystem Development Cooperation Project in Indonesia, have been achieved the several milestone related to preliminary work, licensing, preparation of funding to support the preparation of construction on target.

In order to strengthen downstream bauxite commodities, ANTAM continues to deliver on its commitment to support the integration of the national aluminum industry.

An important step towards the commercial operation phase, the Company ensured the supply of bauxite to support the stable production of alumina during the commissioning process. In addition, trial shipment of alumina to the Kuala Tanjung aluminium smelter was conducted as part of the integrated supply chain testing. With ensuring the supply of bauxite to the SGAR project operated by PT Borneo Alumina Indonesia, a

joint venture between ANTAM and Inalum, ANTAM reaffirms its role in supporting the development of a sustainable national aluminum industry ecosystem.

EXPLORATION ACTIVITIES

ANTAM's exploration activities focus on gold, nickel and bauxite commodities which are intended to sustain operations and development projects. ANTAM's total preliminary unaudited exploration expenses in 1Q25 amounted to Rp45,54 billion. As part of the effort to increase the portfolio of gold reserves and resources, ANTAM is currently focusing on searching for additional gold sources both in active Mining Business Permit locations and in other new prospect areas.

ANTAM through the Geomin Unit carries out integrated mineral exploration activities which include area survey activities, geological exploration, geophysical exploration, geodetic surveys, drilling, physical and chemical analysis testing, calculation of mineral reserves and resources supported by an integrated Geographic Information System (GIS).

Exploration activities are carried out to ensure the adequacy of the Company's potential strategic mineral resources and reserves. Nickel exploration activities aim to support the sustainability of operations and the initiation of the Company's nickel downstream development.

EXPLORATION & EXPLOITATION AREA (UNAUDITED)

ANTAM has exploration and exploitation areas covered by various mining business licenses with the following data:

Location	Exploration Mining Business Permits (IUP)	Operation Production IUP (IUP OP), Contract of Work (KK), Industrial Business License (IUI), Specific Mining Business License (IUP-OPK) for Processing and Refining
Owned bf' the Company'
Kab. Sarolangun (Batang Asai), Prov. Jambi*	SK Kepala BKPM RI No. 164/I/IUP/PMDN/2020
Kab. Sarolangun dan Merangin (IUP-VII), Prov. Jambi*	SK Kepala BKPM RI No. 165/I/IUP/PMDN/2020
Kab. Sarolangun dan Merangin (IUP-VIII), Prov. Jambi*	SK Kepala BKPM RI No. 166/I/IUP/PMDN/2020
Cibaliung, Kab. Pandeglang, Prov. Banten**		SK Bupati Pandeglang No. 541.23/Kep.747- BPPT/2013
UBPP Logam Mulia, Jakarta		IUP Operasi Produksi Khusus untuk Pengolahan dan Pemurnian Mineral sesuai SK Menteri ESDM No. 261.K/30/DJB/2011
Pongkor, Kab Bogor, Prov Jawa Barat		SK BKPM RI No. 171/I/IUP/PMDN/2020 (98PP0138)
Arinem (Ciarinem), Papandayan, Kab. Garut, Prov Jawa Barat		SK BKPM No.256/I/IUP/PMDN/2019
Mempawah Hulu, Landak, Kalimantan Barat		SK Bupati Landak No. 544.11/330/HK-2014
Toho, Mempawah, Pontianak, Kalimantan Barat		SK Bupati Pontianak No. 221 Year 2009
Toho, Mempawah, Pontianak, Kalimantan Barat		SK Gubernur Kalimantan Barat No. 444/ Distamben/2015
Tayan, Sanggau, Kalimantan Barat		SK BKPM RI No. 241/1/IUP/PMDN/2021
Lasolo, Konawe Utara, Sulawesi Tenggara		SK Bupati Konawe Utara No. 15 Tahun 2010
Asera dan Molawe, Konawe Utara, Sulawesi Tenggara		SK Bupati Konawe Utara No. 158 Tahun 2010
Pomalaa, Kolaka, Sulawesi Tenggara		SK Kepala BKPM RI No. 172/I/IUP/PMDN/2020

Location	Exploration Mining Business Permits (IUP)	Operation Production IUP (IUP-OP), Contract of Work (CoW), Industrial Business Licence (IUI) and Specific Mining Business Licence (IUP-OPK) for Processing and Refinery
Owned try the Company (continu	ed)
Batu Kilat, Kolaka, Sulawesi Tenggara		SK Kepala BKPM RI No. 175/I/IUP/PMDN/2020
Sitallo, Kolaka, Sulawesi Tenggara		SK Kepala BKPM RI No. 173/I/IUP/PMDN/2020
Maniang, Kolaka, Sulawesi Tenggara		SK Kepala BKPM RI No. 16/1/IUP/PMDN/2023
Tambea, Kolaka, Sulawesi Tenggara		SK Kepala BKPM RI No. 174/I/IUP/PMDN/2020
Maba, Halmahera Timur, Maluku Utara***		SK BKPM RI No. 1103/1/IUP/PMDN/2022
Oksibil (Kentaurus), Kab. Pegunungan Bintang dan Boven Digoel, Prov. Papua****	SK BKPM RI No. 622/I/IUP/ PMDN/2021
Oksibil (Polaris), Kab. Pegunungan Bintang, Prov. Papua****	SK BKPM RI No. 234/1/IUP/ PMDN/2020
Oksibil (Venus), Kab. Pegunungan Bintang, Prov. Papua****	SK BKPM RI No. 233/1/IUP/ PMDN/2020
Oksibil (Orion), Kab. Pegunungan Bintang, Prov. Papua****	SK BKPM RI No. 357/1/IUP/ PMDN/2021
Owned by the Subsidiaries
PTCitra Tobindo Sukses Perkasa Mandiangin, Sarolangun, Jambi		SK DPMPTSP Jambi No. 185/KEP.KA.DPM-PTSP- 6.1/IUPOP/IX/2019
PT Borneo Edo Sejahtera -Sebadu, Mandor, Kalimantan Barat		SK DPMPTSP No. 503/18/IUP-OP.P/DPMPTSP- C.11/2020
PT Borneo Edo International -Menjalin, Landak, Kalimantan Barat		SK DPMPTSP No. 503/16/IUP-OP.P/DPMPTSP- C.11/2019
PT Dwimitra Enggang Khatulistiwa (PT DEK)- Menjalin, Landak, Kalimantan Barat*****		Keputusan Menteri Investasi/ Kepala Badan Koordinasi Penanaman Modal No. 1130/1/IUP/ PMDN/2022tentang Persetujuan Pemberian IUP pada tahap kegiatan operasi produksi untuk komoditas mineral logam kepada PT DEK
PT Mega Citra Utama - Meliau, Sanggau, Kalimantan Barat		SK Gubernur Kalimantan Barat No. 503/16/IUP-OP.P/DPMPTSP-C.11/2019

Location	Exploration Mining Business Permits (IUP)	Operation Production IUP (IUP-OP), Contract of Work (CoW), Industrial Business Licence (IUI) and Specific Mining Business Licence (IUP-OPK) for Processing and Refinery
Owned try the Subsidiaries (co	nfinuedj
PT Gag Nikel - Pulau Gag, Raja Ampat, Papua Barat		Kontrak Karya sesuai SK Menteri ESDM No.430.K/30/DJB/2017
PT Sumber Daya Arindo -Maba, Halmahera Timur, Maluku Utara******		SK BKPM RI No. 1104/1/IUP/PMDN/2022
PT Nusa Karya Arindo - Maba Halmahera Timur, Maluku Utara******		SK BKPM RI No. 1105/1/IUP/PMDN/2022
PT Cibaliung Sumberdaya -Cibaliung, Pandeglang Banten****		Kep. Bupati Pandeglang No. 821.13/Kep.1351-BPPT/2014
PT Gunung Kendaik -Mempawah Hulu dan Banyuke Hulu, Kalimantan Barat****		SK Gubernur Kalimantan Barat 573/ Distamben/2015
PT Emas Antam Indonesia -Mandiodo, Konawe Utara, Sulawesi Tenggara		IUP Operasi Produksi Khusus Pengolahan dan Pemurnian sesuai SK Bupati Konawe Utara No. 87 Tahun 2011
PT Emas Antam Indonesia -Mandiodo, Konawe Utara, Sulawesi Tenggara		IUP Operasi Produksi Khusus Pengangkutan dan Penjualan sesuai SK Bupati Konawe Utara No. 88 Tahun 2011

Notes:

Suspension extension prosess status In the process of renewing the license

Part of IUP's has been tranferred to PT SDA dan PT NKA (the subsidiaries)

****) IUP's are revoked and the Company is currently in objection/recovery process

**"**) The permit has been upgraded to Operation Production IUP (IUP OP)

*"****) Resulted from partial transfer of IUP Maba, East Halmahera, North Maluku, which was previuosly owned by Company

CORPORATE NEWS

WELCOMING THE LUNAR NEW YEAR CELEBRATION, ANTAM LAUNCHES THEMATIC GOLD IN THE YEAR OF THE WOOD SNAKE

On January 8, 2025, ANTAM through the Precious Metal Processing and Refinery Business Unit, officially launched a special edition thematic gold on the occasion of the Lunar New Year 2025 with the theme of the Year of the Wood Snake.

This special edition product comes in two variants, gold bars and gift series. Gold bars are available in sizes of8 grams and 88 grams, while the gift series is available in variants of

0.5 grams and 1 gram.

The Lunar New Year of the Wooden Snake's Gold edition is equipped with advanced security features, including a special serial number, watermark, three-dimensional effect, QR code, and microtext. The glossy and matte finish adds an elegant impression, while the exclusive packaging makes it attractive as a gift or investment.

ENHANCING OHS IMPLEMENTATION, ANTAM AIM ZERO FATALITY IN 2025

On January 15, 2025, ANTAM again emphasized its commitment to achieving zero fatality by 2025 in line with the implementation of good mining practice principles that prioritize Occupational Health and Safety (OHS). ANTAM also strives to maintain the zero fatality achievement that has been achieved for four consecutive years.

With the momentum of National OHS Month 2025, ANTAM is strengthening its efforts to internalize a work safety culture. With the theme "Strengthening Human Resources Capacity in Supporting the Implementation of Mining OHS Management System to Increase Productivity", ANTAM held various initiatives

across its business units.

ANTAM WINS TWO GOLD PROPER AWARDS, PROVING COMMITMENT TO SUSTAINABILITY

On February 26, 2025, ANTAM has received two Gold Ratings in Company Performance Rating in Environmental Management (PROPER) 2024, organized by the Ministry of Environment. ANTAM received two Gold Ratings through the Gold Mining Business Unit and West Kalimantan Bauxite Mining Business Unit.

In addition to the Gold Rating, ANTAM achieved a Green Rating in the PROPER Award 2024 through the North Maluku Nickel Mining Business Unit. The Company also receives a Blue Rating through the Precious Metal Processing and Refinery Business Unit, also subsidiaries PT Gag Nikel and PT Nusa Karya Arindo.

The PROPER Award is given to companies that consistently comply with applicable environmental management regulations and contribute to community empowerment, disaster response, and social programs that have a broad impact.

SPECIAL RAMADAN AND EID AL-FITR 2025, ANTAM PRESENTS DAMASCUS MOSQUE GOLD

On February 28, 2025, welcoming the holy month of Ramadan and the celebration of Eid Al-Fitr 1446 Hijri, ANTAM presents thematic gold bar products with Islamic themes. This year, ANTAM chose the visual design of the Damascus Mosque as the main motif on a 5 gram gold bar.

The Gempita Hari Raya series comes in two main categories. First, there are 5 gram gold bars with the Damascus Mosque design, which symbolizes the glory and eternity of Islamic civilization. Second is the Gift Series,

available in 0.5 gram and 1 gram weight options.

Each thematic gold product has 999.9 fine gold grade and various advanced security features. ANTAM embeds a Micro Logo that is difficult to forge, a QR Code to facilitate information verification, a Rainbow Effect that displays special colours when exposed to light, and a 3D Effect on the gold surface with dimensions of 27.5 x 16.5 mm and a thickness of about 0.66 mm. In addition, the Gift Series is equipped with an invisible ink feature to enhance product security.

ACCOMMODATING EASY ACCESS TO GOLD INVESTMENT FOR THE COMMUNITY, ANTAM PRESENTS PRECIOUS METAL MOBILE APPLICATION

On March 18, 2025, ANTAM through the Precious Metal Processing and Refinery Business Unit, ANTAM officially launched the ANTAM Logam Mulia mobile application, a digital platform that allows physical gold transactions to be more secure and practical.

This application presents the BRANKAS (Berencana Annan Kelola Emas) feature, which was previously only available in the web-based version. With this application, customers can now make gold transactions, store, and access BRANKAS services directly from their mobile devices without the need to visit the Precious Metal Gold Boutique.

This digitalization step confirms ANTAM's commitment to providing innovative technology-based services by prioritizing transaction security and customer protection.

EID AL-FITR 2025, ANTAM HOLDS FREE HOMECOMING WITH MINISTRY OF STATE-OWNED ENTERPRISES AND THE MINISTRY OF ENERGY AND MINERAL RESOURCES

On March 27, 2025, In order to welcome Eid aI-Fitr 1446 Hijri, ANTAM, held a free

homecoming together with the Ministry of State-Owned Enterprises and the Ministry of Energy and Mineral Resources.

A total often buses were provided by ANTAM to ensure that the trips of 495 free homecoming participants could be carried out safely and comfortably.

Together with the Ministry of State-Owned Enterprises, ANTAM provided five units of buses, four buses departed for Yogyakarta, while one bus departed for Malang. All buses departed simultaneously from Gelora Bung Karno Stadium (GBK) in Jakarta and ANTAM Head Office.

Meanwhile, together with the Ministry of Energy and Mineral Resources, ANTAM sent five buses where two buses departed for Magetan, two other buses to Kendal, and one bus to Malang. The five buses departed from the Ministry of Energy and Mineral Resources office in Jakarta.