Perusahaan Perseroan Persero PT Telekomunikasi Indonesia Tbk : FY 2025 Corporate Presentation / Info Memo

Accelerating Transformative Execution

PT Telkom Indonesia (Persero) Tbk

Accelerating Transformative Execution | Page

FY25 Corporate Presentation and Info Memo 12 May 2026

Telkom Indonesia & Telkomsel – Board of Directors

Dian Siswarini

President Director

Andy Kelana Director of Legal & Compliance

Arthur Angelo Syailendra Director of Finance and Risk Management

Veranita Yosephine

Director of Enterprise & Business Service

Nanang Hendarno Director of Network

Seno Soemadji Director of Strategic Business Development & Portfolio

Faizal Rochmad Djoemadi Director of Digital IT

Budi Satria Dharma Purba Director of Wholesale &

International Service

Willy Saelan Director of Human Capital Management

Nugroho

President Director

Daru Mulyawan Director of Finance and Risk Management

Wong Soon Nam Director of Planning and

Transformation Joyce Shia

Director of IT

Stanislaus Susatyo Director of Sales

Indra Mardiatna

Director of Network

Lionel Chng Director of Marketing

Indrawan Ditapradana Director of Human Capital Management

Share Price Performance & Ownership

Long-Term Performance Supported by Solid Institutional Ownership

Shareholder Composition and Ownership Summary

Public

47.9%

Danantara

52.1%

Series-A share held by BP BUMN

Public Ownership

Domestic

18.6%

Domestic Institutional Investors hold 83.9% of domestic public shares

Foreign

81.4%

Foreign Institutional Investors hold 99.9% of foreign public shares

Source: PT Datindo Entrycom as of 30 December 2025

TLKM vs IHSG Share Performance since IPO

3000

TLKM : +16.9 x

IHSG : +17.4 x

2500

2000

1500

1000

500

0

IHSG

TLKM

Source: Bloomberg 14 Nov 1995 – 30 December 2025

TLKM Share Price & Key Events on Indonesia Telco Sector

Share price movement reflects sector consolidation, macro pressures, and strategic execution milestones across Indonesia’s evolving telco

landscape

Prior Events

31 Oct 17 – SIM Card Registration Enacted

Mar 21 – 2.3GHz Spectrum Auction

May 21 – TLKM 5G Launch

Jan 22 – Telco Operators consolidated to 4 players

Dec 22 – 2.1GHz Spectrum Auction

20 Feb 24

Satellite Merah Putih 2

16 Dec 24

Mar 25 Product Simplification Journey –

Starter pack

simplification 21 Oct 25

Disclosure of

4500

4000

3500

21 Jul 23

IndiHome transfer to TSEL completed

Feb 24 Indonesia Presidential Election

launch

20 Mar 24

Telkomsel Lite launch

May 24

Eznet launch

20 Oct 24

Presidential Inauguration

1 Aug 24

InfraCo Operational Day-1

InfraCo

Initial Phase of Commercialization

Apr – May 25

1. XL-Smart

   Consolidation making a 3-Player market

2. SimPATI Relaunch at Telkomsel 30th anniversary.

3. FY24 dividend announcement

Information

InfraCo

12 Dec 25

InfraCo Phase-1

Spin Off approved

3000

2500

2000

Source: Bloomberg (share price updated until 30 Dec 2025), Telkom Info Memo

Accelerating Transformative Execution | Page 5

4Q25 Macro Environment Supported By Government Spending

150

140

130

120

110

100

90

80

70

Mar 19

Jun 19

Sep 19

Dec 19

Mar 20

Jun 20

Sep 20

Dec 20

Mar 21

Jun 21

Sep 21

Dec 21

Mar 22

Jun 22

Sep 22

Dec 22

Mar 23

Jun 23

Sep 23

Dec 23

Mar 24

Jun 24

Sep 24

Dec 24

Mar 25

Jun 25

Sep 25

Dec 25

60

8.0%

7.0%

6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

Mar-21

Jun-21

Sep-21

Dec-21

Mar-22

Jun-22

Sep-22

Dec-22

Mar-23

Jun-23

Sep-23

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Sep-25

Dec-25

0.0%

CCI: Rp 1 – 2m CCI: Rp 3.1 – 4m CCI: > Rp 5m Consumer Confidence Index

Core inflation (% yoy) Headline inflation (% yoy) Government bond 10 yr

20%

15%

10%

5%

0%

Jun-21

Jun-22

Jun-23

Jun-24

-5%

260

250

240

230

220

210

200

190

Jun-25

Sep-25

Dec-25

180

6.50%

6.00%

5.50%

5.00%

4.50%

4.00%

3.50%

3.00%

BI rate vs US$/IDR

Rp/US$

17,500

17,000

16,500

16,000

15,500

15,000

14,500

14,000

13,500

Jun-25

Sep-25

Dec-25

13,000

Mar-21

Jun-21

Sep-21

Dec-21

Mar-22

Jun-22

Sep-22

Dec-22

Mar-23

Jun-23

Sep-23

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Mar-21

Sep-21

Dec-21

Mar-22

Sep-22

Dec-22

Mar-23

Sep-23

Dec-23

Mar-24

Sep-24

Dec-24

Mar-25

Source: CEIC, BI

BI Rate Rupiah

Telkom Indonesia’s Transformation Pillars

Aiming to provide world-class digital ecosystem leadership at scale

1 operaTional & service excellence

• Reforming corporate culture and governance.

• Prudent capital allocation for both Capex and Opex

  deployment to improve efficiency.

• High-Yielding product offerings.

streamlining 2

• Consolidate overlapping business units and divest non-core businesses.

• Refocus time, effort, and resources back to core strength.

  unlocK value

  TLKM30

  Modus-operandi shift

  • Accelerate monetization of high-value infra assets

    such as fiber, data center and towers.

  • Establish strategic partnership to crystallize

    3

    embedded value.

• Transitioning from an Operating to a Strategic Holding setup to optimize (i) Value Creation and (ii) Total Shareholder Return (TSR).

• Pivot from legacy telco to digital telco. 4

2. streamLining & back to core strength
A. Streamlined	B. Closure Sigma AIT Bhd. PT Alam Pesona Wisata
Healthcare Business (CSPA signed in March 2026)

Executing TLKM30 initiatives through stronger governance, portfolio optimization, and disciplined capital allocation

Created Directorate of Legal & Compliance and Chief Integrity Officer position, along with additional key employees to support governance reset.

61.6

63.8

Stronger Operating Cash Flow as a result of TOTEX Efficiency program and better collection discipline.

FY24

FY25

(Rp tn)

Early Retirement Program (ERP) initiative started in December 2025, with 612 employees participated and a total budget realization of Rp 937bn in FY25.

0.9

4.4

5.9

48.3

Capex Breakdown FY25 (%)

B2C

In FY25, Capex realization was Rp 27.5tn (*C2R = 18.8%).

The majority of Capex (93%) was

Improvement in Telkomsel’s mobile data yield.

42.4 41.3

2.9 2.7

43.4 45.0

3.1 3.1

ARPU Rp MB

40.5

B2B Infra

B2B ICT

International

Others

allocated to core businesses (B2C, B2B Infra, and International business) to expand digital connectivity capabilities, including fiber-optic network, towers,

1Q25 2Q25 3Q25 4Q25

Accelerating Transformative Execution | Page 8

*C2R = Capex-to-Revenue

satellites, and subsea cables.

Advancing value creation through infrastructure monetization, strategic restructuring, and shareholder return enhancement

2. Total Shareholders’ Return

• First phase of spin-off completed with >50% of selected TLKM’s fiber assets and business transferred into Infranexia.

• Coverage includes access, aggregation, backbone, and

  supporting infrastructure.

• Asset value transferred : Rp 35.8tn in the Phase-1 spin-off.

  1Q25

  
  2Q25

  
  3Q25

  
  4Q25

  
  Infranexia Phase-1

  FY24 Dividend Yield: +7.3%

  Share Buyback

  FY25 Share price: +28.4%

  A. Ongoing transition toward Strategic HoldCo structure, started with financial reporting based on segments

“Fragmented & Overlapping”

Value Unlock Dividend

Data, Internet, IT Service

IndiHome

SMS, FBB, Cellular

Interconnection

Network & Other Telco

“Integrated & Focused”

Integrated Value Creation Framework

TSR 2025:

35.7%

• Re-started investor engagement through strategic partnership to:

  1. Unlock value from Data Center business, and

  2. Accelerate growth

In 2025, the Company implemented changes in accounting estimates and asset classification, including

Preliminary

asset & business assessment

Decision of Final

carve-out via Valuation & spin-off Corporate

Approval

Agreement

signing, RUPSLB &

Closing

revisions to certain asset useful lives and the separate classification of drop cable (“last mile to

customer”) from 25 years to 5-10 years useful life.

This should better reflect accounting best practice and pave the way for the Company to modernize network technology and topology.

TLKM30 Transformation – Setting the Foundation for Future Growth

Resetting legacy assets & governance to improve transparency

Accounting Policy Change

• Applied retrospectively to the extent practicable.

• Adjustment of useful life for non-network assets primarily the drop cable (“last mile to customer”). In addition, Drop Cable along with other Network Assets useful life is also adjusted down (from 25 years to 5-10 years).

  Progress on SEC investigation

• 6K filed to address legacy matters – Governance Reset.

• 6K-A filed to address accounting policy change for infrastructure assets.

  Property and equipment Asset class

  Estimated useful lives

  Change in estimated useful lives

• Created Directorate of Legal & Compliance, Chief Integrity Officer position, and other Key positions to support governance reset.

  (years) (years)

  Optical line terminal	25	8
  Switching equipment	10-15	5-10
  Terrestrial transmission	10-15	8

  Cable network

  Switching equipment

  Transmission installation, and equipment

• Improving Disclosure Policy & Internal Controls.

• Corrective actions and remediation efforts.

  Satellite, earth station, IP Multimedia Subsystem

  and equipment (“IMS”

  10-15 8

  • No impact on income statement since all has been provisioned

)

• Right sized the initial value of our transferred fiber asset from TLKM HoldCo to TIF (Infranexia) to ensure TIF’s competitiveness.

• Adjustments have no cash & dividend impact.

  in the past. No impact on balance sheet apart from classification and no impact on cash flows.

  Modernization of the network

  • Investment to improve service quality.

  • Revamp obsolete network topology.

  • More efficient Total Cost of Ownership (TCO) to operate.

  • Accelerate automation & AI usage.

    Governance Reset

  • Legacy matters have been fully provisioned.

  • Strengthening compliance and revenue assurance protocol.

  • Imposing higher degree of control and visibility towards OpCo’s business

    performance.

  • New way of working with emphasis on INTEGRITY.

Improving Telkom’s Total Shareholder Return (TSR)

Driving long-term value creation through strategic capital management

Share Price

Performance 2025:

+28.4%

FY24 Dividend Yield:

+7.3%

Ordinary Dividend from Business as Usual

(Last Payout Ratio: 89%)

Value Unlocking Dividend

• Infranexia

• Data Center

• Streamlined Entities that will be divested

  Share Buyback Program

• Budget: Rp 3tn

• Validity period:

  28 May 2025 – 27 May

  2026

• Accumulated buyback (30 Dec 2025): 8.95 Mn

shares

Total Shareholder

Return (TSR) 2025:

35.7%

Source: Bloomberg, Company disclosure

FY25 Financial & Operational Results

Evolving Toward HoldCo OpCo Model

Simplifying segment reporting & business lines for better transparency, performance measurement and valuation unlock

Why Change?

Business-Line Reporting

Historical reporting structure was built around parenting

model (Customer Facing Unit/Functional Unit).

Limited visibility into end-to-end economics by customer segment as well as product categories (many overlaps).

Asset utilization and profitability attribution were fragmented across operational units.

Difficult to evaluate ROI and capital allocation effectiveness for each project.

Hard to measure true “value-added” activities given

layers of inter-company engagement.

Hard to showcase TLKM’s scale of business & assets.

“Fragmented & Overlapping”

TLKM30 TRANSFORMATION

Current State

Segment-Led Reporting & Management

Reporting aligned with strategic growth engines and value creation

priorities.

Improved transparency of profitability, cash generation, and invested capital by segment.

Clear delineation of “what OpCos are doing what business”. No more

cannibalization and overlapping activities.

Enables more accurate evaluation of infra modernization and

technology lifecycle.

Supports long-term portfolio optimization and strategic decision-making.

“Integrated & Focused”

Integrated Value Creation Framework

Delayering

Improving visibility on financial performance (esp: cost structure) No more overlapping

products/services by OpCos

Future-ready governance Streamlining to focus

on core

Data, Internet, IT Service	IndiHome	SMS, FBB & Cellular	Inter- connection	Network &
				Other Telco

KEY MESSAGE

The transformation is not merely a financial reporting exercise, but a foundational shift toward a

HoldCo – Opco model designed to support TLKM30 execution.

FY25 Revenue Based on Business Segments (1/2)

146.7

FY25 Consolidated Revenue

B2C

B2B Infra B2B ICT

International Others/Ancillary Businesses

Segment-based reporting structure to enhance transparency, strategic focus, and value unlock

FY25 Revenues (Rp tn)

109.2

3.3

56.6

External revenues

Inter-segment revenues

105.9

47.7

29.1

19.1

3.8

8.9

15.3

12.2

10.7

1.5

23.2

5.9

B2C B2B Infra B2B ICT International Others/Ancillary

FiberCo	TowerCo
DC Co	Satellite

Businesses

ServeCo

Mobile & Fixed Broadband Businesses

EBIS*

*EBIS & WINS currently sit at HoldCo and undergoing restructuring to TIF (WINS) and New OpCo (EBIS).

International

Others/Ancillary Businesses

International B2B ICT

B2B Infra

B2C

subsea-cable

FY25 Revenue Based on Business Segments (2/2)

External revenue performance by Segment

• B2C revenue declined by 3.4% YoY in FY25 to Rp 105.9tn, primarily driven by competition in 1H25 and Legacy business (-25.3% YoY) impacted from the

  ongoing pressure of Over-The-Top (OTT) messaging applications and the continued shift from legacy services to data-driven communication.

  • Cellular Data revenue decreased by 1.4% YoY mainly due to 1H25 pricing competition and shifts in usage behavior. However, data revenue continued to increase in 2H25.

  • IndiHome (FBB) revenue declined marginally by 0.5% YoY in FY25 due to continued competitive pressure and ARPU decline due to market dynamics and a more selective customer acquisition strategy focused on quality customers.

• B2B ICT revenue decreased 2.8% YoY to Rp 15.3tn, as the segment is currently undergoing restructuring resulting in a more selective approach toward securing new contracts.

• B2B Infrastructure revenue increased by 9.2% YoY to Rp 8.9tn, supported by the continued expansion in DC business and Fiber-to-the-Tower (FTTT).

• International business revenue declined marginally by 0.5% YoY to Rp 10.7tn, mainly driven by a decline in international SMS Application-to-Person (A2P) Interconnection at Telin. The impact from the decline in International SMS A2P, outweighed the growth in subsea cable network revenues.

• Others/Ancillary Businesses segment revenue increased by 5.1% YoY to Rp 5.9tn, driven by the growth in our digital ecosystem, particularly e-payment and digital game business.

FY24 & FY23 Financial Statement (Restated) Impact from change in Accounting Policy

• Drop cable (“last mile to customer”) reclassified as a separate asset component (from access network) to better reflect customer-specific nature.

• Assets useful life changed from 25 to 5-10 years, aligned with usage and economic benefits, treated as a change in accounting policy (PSAK 208).

• To be applied retrospectively, with restatement of 2023-2024 financials.

• Adjustment to retained earnings (pre-2023); no cash flow & dividend impact.

-8.7tn

-10.2tn

180.8

180.6

172.1 170.3

FY23

FY23

(Restated)

FY24

FY24

(Restated)

-1.4tn

-1.2tn

24.6

23.6

23.2

22.4

FY23

FY23

(Restated)

FY24

FY24

(Restated)

-8.3tn

-7.0tn

109.6

103.1

101.3

96.1

FY23

FY23

(Restated)

FY24

FY24

(Restated)

*) Differences between asset and retained earnings adjustments primarily reflect deferred tax assets impact

Consolidated

FY25 Results Highlights

4Q25 revenue increase driven by Telkomsel’s revenue from digital business

4Q25 Financial Highlights

Revenue

Rp 37.1tn

▲ 1.4% QoQ

EBITDA

Rp 17.9tn

▼ 2.4% QoQ

EBITDA

Margin

48.1%

▼ 186 bps

Normalized

EBITDA¹

Rp 18.8tn

▲ 2.7% QoQ

Normalized

EBITDA

Margin¹

50.6%

▲ 66 bps

Ne

Normalized

t Income

Margin²

Rp 22.7tn

▼ 6.0% YoY

Normalized

Net Income²

Net

Income Margin

Rp 17.8tn

▼ 20.5% YoY

Net

Income

Normalized

EBITDA

Margin¹

▼ 4.0% YoY

tn

Rp 73.2

Normalized

EBITDA¹

EBITDA

Margin

Rp 72.2tn

▼ 3.7% YoY

EBITDA

Rp 146.7tn

▼ 2.2% YoY

Revenue

FY25 Financial Highlights

49.2%

▼ 80 bps

49.9%

▼ 95 bps

12.1%

▼ 280 bps

15.4%

▼ 64 bps

Telkomsel (stand-alone before elimination)

Mobile

ARPU

FY25

43.0K

▼ 3.1% YoY

4Q25

45.0K

▲ 3.6% QoQ

Revenue

Rp 109.3tn

▼ 3.6% YoY

Rp 27.9tn

▲ 1.5% QoQ

EBITDA

Rp 49.6tn

▼ 3.3% YoY

Rp 13.1tn

▲ 5.4% QoQ

EBITDA

Margin

45.4%

▲ 11 bps

47.0%

▲ 174 bps

Net

Income

Rp 19.7tn

▼ 10.5% YoY

Rp 5.4tn

▲ 14.7% QoQ

Net Income

Margin

18.0%

▼ 140 bps

19.3%

▲ 223 bps

¹) By factoring out Early Retirement Program (ERP) conducted in FY25

²) By factoring out Early Retirement Program (ERP), depreciation adjustment, and unrealized gain (loss) from our investments in FY25

Highlights B2C

Mobile Recovery Momentum Builds in 2H25

Total Revenue* (in Rp Tn) EBITDA* (in Rp Tn) Net Income* (in Rp Tn)

-0.7%

+1.5%

-3.6%

113.3

+7.2%

+5.4%

-3.3%

-6.4%

+14.7%

-10.5%

28.1

27.2

26.6

27.5

27.9

109.3

12.3

12.3

11.7

12.5

13.1

51.3

49.6

5.8

5.4

4.2

4.7

5.4

22.0

19.7

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

Mobile ARPU (in Rp 000)

Payload (in Petabyte)

Mobile Customer Base

+2.2%

+3.6%

-3.1%

+8.9%

+3.7%

+15.0%

22,895

(in million)

–2.1%

-1.0%

-2.1%

44.0

42.4

41.3

43.4

45.0

44.4

43.0

5,355

5,643

5,798

5,622

5,832

19,909

159.4

158.8

158.4

157.6

156.1

159.4

156.1

8.4

8.0

8.0 8.0 8.1 8.2

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

4Q24

1Q25

2Q25

3Q25

4Q25

FY24

FY25

*figures calculated are rounded to the nearest Rp billion

Telkomsel HALO

Highlights B2B Infra, B2B ICT, International

B2B Infra, B2B ICT, and International Business Pillars

Expanding digital backbone and strengthening enterprise ecosystem

International

Subsea Cable System

27

33.7

Tbps

International

Network

International

External Revenue

Rp 10.7tn

▼ 0.5% YoY

(Shifting to Connectivity Business to improve margin and also due to Data Center business consolidation)

Rp 15.3tn

▼ 2.8% YoY

22%

16%

33%

29%

SME

SOE

Private Government

EBIS Customer Contributor

71%

20%

ICT Solution

Contact Ctr. Digital

(Decline was due to performance of to be

streamlined OpCos)

Product Contributor

1%

8%

Connectivity

B2B ICT

External Revenue

B2B Infra

External Revenue Rp 8.9tn

▲ 9.2% YoY

Infra Network

Fiber Optic

Backbone

210K+ km

3 Satellites

Mitratel

501

Cities

Nationwide

NeutraDC*

42.2 Gbps

Revenue

Rp 9.5tn

▲ 2.4% YoY

Revenue

Rp 1.6tn ▲ 23.0% YoY

4 domestic

EBITDA

Margin

82.2%

Net Income Margin

22.2%

Tenancy Ratio

1.57x

Data

7

Center

IT Load Installed

3 overseas

43 MW

40,230

TOWERS

Largest TowerCo in SEA In terms of towers owned

Average

Total utilization rate

*Does not include neuCentrIX

~86%

Total Segment Revenue before elimination Rp 56.6tn

FY25 Capex Realization & Capex-to-Revenue Ratio Changes due to Re-classification

Capex spending remains disciplined and 93% of Capex was spent on B2C, B2B Infra, and International business

30.3

33.0

34.2

Capex Breakdown FY25 (%) Based on Segment 0.9 4.4 5.9 48.3 B2C B2B Infra B2B ICT 40.5 International Others

Based on Product

8.9 Connectivity 11.5 Legacy 0.8 Platform Services 78.8

5-year Capex Trend

23.3%		25.2%		24.1%		18.6%		18.8%
33.4		37.2		36.0		28.0		27.5
FY21		FY22		FY23		FY24		FY25

Fixed (PPE) and intangible assets additions

• In FY25, Telkom Group realized capex was Rp 27.5tn (*C2R 18.8%). Driven by capex realization for data center carried over from FY24.

  Fixed (PPE) assets additions

  21.2% 23.2% 22.1%

  16.3% 16.7%

• The majority of Capex (93%) was allocated to core businesses (B2C, B2B Infra, and International business) to expand digital connectivity capabilities, including fiber-optic network, towers, satellites, and subsea cables.

FY21 FY22 FY23 FY24 FY25

Capex (Rp tn) Capex-to-Revenue Ratio

*C2R reflects fixed assets & intangible assets over consolidated revenue

Revised 2025 Guidance

Revenue:

Slight contraction

2026 Guidance

Normalized Revenue Growth:

1-3%

2025 Results

Revenue:

-2.2%

FY25 Results & FY26 Company Guidance

*Capex-to-Revenue

Ratio (C2R):

c17-19%

EBITDA Margin:

c50%

Normalized EBITDA Margin:

>50%

*Capex-to-Revenue ratio (C2R):

c17-19%

EBITDA Margin

Normalized: 49.9%

Reported: 49.2%

*Capex-to-Revenue

Ratio (C2R):

18.8%

*C2R reflects fixed assets & intangible assets over consolidated revenue

FY25 Consolidated – Supplementary Information

Significant & Subsequent Events

Significant Events

1. Transfer of the Government’s ownership of Series-B shares

   • Based on Notarial Deed No. 121 dated March 22, 2025, the Government transferred ownership of Series B shares 52.09% of Telkom total shares, to PT Biro Klasifikasi Indonesia (“BKI”) through an inbreng (non-cash capital contribution) mechanism. The Government remains the Controlling Shareholder (Ultimate Beneficial Owner) of Telkom through its direct ownership of 1 (one) Series A Dwiwarna share with special rights and indirect ownership of Series B shares held by BKI through Danantara (DAM).

2. Share Buyback

   • Based on the Minutes of the General Meeting of Shareholders (GMS) the Telkom’s share buyback program with a maximum allocated fund of Rp 3tn. As of December 31, 2025, Telkom had repurchased 8,945,400 shares amounting to Rp 30bn.

   • On July 18, 2025, Mitratel announced its plan to conduct a share buyback of publicly held shares, with a maximum of 4.12% of Mitratel’s issued and fully paid-up shares. Effective for 12-month from August 26, 2025 until August 25, 2026. As of December 31, 2025, Mitratel had repurchased 131,491,800 shares, equivalent to Rp 79bn.

3. Divestment of Ad Medika

   • On March 4, 2026, Metra entered into a CSPA with Global Assistance and Healthcare (Singapore) Pte. Ltd. in relation to the planned divestment of its entire ownership in AdMedika, a wholly owned subsidiary held through Metra. Accordingly, the Company presented its investment in AdMedika as assets held for sale in the consolidated statement of financial position. The carrying value of the investment classified as held for sale as of December 31, 2025 amounted to Rp 285bn.

Subsequent Events

1. On January 6, 2026, Telkom reported a shift in share ownership involving the State-Owned Enterprises Regulatory Agency (“BP BUMN”) and DAM. The share transfer price was determined based on book value amounting to Rp 25,801,176,750, which is provisional and will be finalized at a later date based on a Decree of the Head of BP BUMN. This transfer represents a strategic measure to comply with Law No. 16 of 2025, which requires the State to maintain direct control over state-owned enterprises (SOEs) through Dwiwarna (Series A) shares and a minimum threshold of Series B share ownership.

2. On May 1, 2026, Telkom announced plans to conduct shares buyback which is planned to be carried out during the period from June 9, 2026 to June 8, 2027, with a maximum amount of Rp 1tn and not exceeding 10% of the issued and fully paid-up share capital.

Info Memo Data –

Financial Statements

FY25 Consolidated – Info Memo Data & FS

FY25 Financial Highlights

• FY25 Revenue declined by 2.2% YoY to Rp 146.74tn in FY25, yet 4Q25 continue to show positive impact from mobile recovery momentum, increased by 1.4% QoQ to Rp 37.1tn. Quarterly improvement driven by Telkomsel standalone revenue rose by 1.5% QoQ due to ARPU hikes driven by digital business revenue up by 4.4% QoQ.

• Consolidated FY25 EBITDA stood at Rp 72.2tn, down 3.7% YoY and representing EBITDA margin of 49.2%. On normalized basis, excluding ERP, EBITDA declined by 4.0% due to impact from softer Revenue. Total Operating Expense for FY25 (refer to slide 28) were relatively flat at Rp 74.5tn (-0.6% YoY); efficiencies were driven by Marketing expense (-14.0% YoY) and Personnel (-2.6% YoY) but being offset by increase in G&A by 6.0% YoY and Interconnection by 2.0% YoY. In 4Q25 EBITDA declined by 2.4% to Rp 17.9tn driven by ERP in the quarter.

• FY25 Net Income declined to Rp 17.8tn (-20.5%) due to depreciation adjustment, unrealized loss in mark-to-market investment, and normalization of gain effect from Telkomsel’s assets (In-building Antenna System) in FY24. However, normalized net income only declined by 6.0% to Rp 22.7tn.

  Key Indicators FY25 FY24 (Rp Bn) (Restated)

  FY25 YoY (%)

  FY23 (Restated)*

  FY24 YoY (%)

  4Q25 3Q25

  4Q25 QoQ (%)

  Revenues	146,742	149,967	(2.2)	149,216	0.5	37,125	36,613	1.4
  Expenses	(112,094)	(108,514)	3.3	(106,528)	1.9	N/A	N/A	N/A
  Operating Profit	34,648	41,453	(16.4)	42,688	(2.9)	N/A	N/A	N/A
  EBITDA	72,240	75,029	(3.7)	77,579	(3.3)	17,852	18,287	(2.4)
  EBITDA Margin (%)	49.2	50.0	(80) bps	52.0	(170) bps	48.1	49.9	(186) bps
  Normalized EBITDA	73,138¹	76,209¹	(4.0)	N/A	N/A	18,789¹	N/A	N/A
  Normalized EBITDA Margin	49.9	50.8	(95) bps	N/A	N/A	50.6	N/A	N/A
  Net Income	17,814	22,403	(20.5)	23,186	(3.4)	N/A	N/A	N/A

  Net Income Margin (%)	12.1	14.9	(280) Bps	15.5	(52) bps	N/A	N/A	N/A
  Normalized Net Income	22,655²	24,113³	(6.0)	N/A	N/A	N/A	N/A	N/A
  Normalized Net Income Margin (%)	15.4	16.1	(64) bps	N/A	N/A	N/A	N/A	N/A

  ¹) By factoring out Early Retirement Program (ERP) conducted in FY25 and FY24

  ²) By factoring out Early Retirement Program (ERP), depreciation adjustment, and unrealized gain (loss) from our investments in FY25

  ³) By factoring out Early Retirement Program (ERP), depreciation adjustment, unrealized gain (loss) from our investments and Telkomsel’s asset unlocking FY24

  *) Please refer to note 2z.3 on the financial statements

  FY25 Consolidated – Info Memo Data & FS

  FY25 and 4Q25 Revenue by Business Line – (1/2)

  FY25 Revenue (Rp tn) 4Q25 Revenue (Rp tn)

  +0.5%

  -2.2%

  -1.7%

12.5

9.1

87.4

10.5

9.2

9.0

90.5

90.0

149.2 150.0 146.7

+1.4%

Data, Internet & IT Services

IndiHome

37.7

22.3

22.6

25.2

6.5

6.6

36.6

37.1

Interconnection

SMS, Fixed and Cellular Voice

Network and Other Telco Services

FY23

FY24

(restated)

FY25

4Q24

3Q25

4Q25

*) Any discrepancies in growth figures are attributable to rounding

FY25 Consolidated – Info Memo Data & FS

FY25 and 4Q25 Additional Data – Revenue by Business Line (2/2)

• Data, Internet & IT Service revenues

  • Declined by 0.5% YoY to Rp 90.0tn in FY25, driven by Telkomsel’s digital business (-1.9% YoY), due to competition in 1H25 and shifts in mobile usage behavior.

  • QoQ revenues grew by 13.1% QoQ to Rp 25.2tn, due to accounting reclassification for TSEL’s product solutions services. In 4Q25, Telkomsel’s digital

    business also grew by a 4.4% QoQ signaling stronger momentum. This quarterly growth was the result of market repair and the festive period.

  • 4Q25 data consumption supported by more discipline pricing, stronger CVM execution, and healthy data traffic growth.

• IndiHome revenue

  • Declined marginally by 0.5% YoY to Rp 26.2tn in FY25 and 1.4% QoQ to Rp 6.4tn in 4Q25, due to continued competitive pressure and ARPU decline (-10.1% YoY and -2.7% QoQ) as a result of market dynamics and a more selective customer acquisition strategy emphasizing on quality customers via improvements in business processes in customers acquisition i.e. upfront payment/bundled payment.

  • This reflects on-going shift in customer behavior towards internet-only packages, away from bundled offerings such as IPTV and telephone services.

• Interconnection revenues

  • Decreased by 2.3% YoY to Rp 9.0tn in FY25, primarily driven by international SMS hubbing at Telin despite growth in the international wholesale voice business.

  • In addition, it saw a 13.1% QoQ dip to Rp 1.9tn in 4Q25, reflecting a continued decline in voice-hubbing segment due to its similar nature to the Legacy (Voice & SMS) business.

• SMS, Fixed and Cellular Voice revenues

  • Legacy business declined by 22.8% YoY to Rp 8.1tn in FY25 and 23.4% QoQ to Rp 1.4tn in 4Q25, due to Over-The-Top (OTT) messaging applications and the continued shift from legacy services to data-driven communication.

• Network and Other Telcos service revenues

  • Increased by 0.2% YoY to Rp 13.5tn in FY25, mainly driven by performance in solution services, network, and payment solutions businesses.

  • On a quarterly basis, 4Q25 revenue declined by 42.1% to Rp 2.2tn, mainly driven by deconsolidation of e-health business (AdMedika) in preparation for divestment and reclassification of other revenues to due to accounting reclassification for TSEL’s product solutions services.

FY25 Consolidated – Info Memo Data & FS

FY25 Total Expense Breakdown – (1/3)

FY25 Total Expense (Rp tn)

*Normalized FY25 Total Expense (Rp tn)

106.5

+1.9%

3.8

6.2

3.3

6.6

39.7

41.2

-0.6

-0.1

0.5

108.5

+3.3%

112.1

104.1

3.5

+2.3%

106.4

-0.3%

32.7

6.4

3.8

6.2

0.0

106.1

3.3

6.6

7.0

32.8

FY23

(restated)

FY24

(restated)

FY25

FY23

(normalized)

-0.2

FY24

(normalized)

-0.3

41.2

FY25

(normalized)

O&M

D&A

Personnel

Interconnection

G&A

Marketing

Other Expense (Income)

*) By factoring out:

• Early Retirement Program (ERP), depreciation adjustment, and unrealized gain (loss) from our investments in FY25;

• Early Retirement Program (ERP), depreciation adjustment, unrealized gain (loss) from our investments and Telkomsel’s asset unlocking in FY24

• Depreciation adjustment and unrealized gain (loss) from our investments in FY23

**) Any discrepancies in growth figures are attributable to rounding

***) The figures on this slide are derived by Investor Relations to the best of our abilities to quantify 2023 income statements data (please refer to note 2z.3 on the financial statements), these figures may differ from reported IFAS and IFRS.

FY25 Consolidated – Info Memo Data & FS

Normalized FY25 and 4Q25 Expense Breakdown (2/3)

0.9

*Normalized FY25 Operating Expense (Rp tn) *Normalized 4Q25 Operating Expense (Rp tn)

+4.6%

-0.6%

-0.3%

71.6

3.5

6.1

6.4

74.9

3.8

6.2

6.9

74.5

3.3

6.6

7.0

3.8

6.2

6.9

3.3

6.6

7.0

15.9

16.8

16.4

15.6

15.4

39.7

41.2

41.2

41.2

41.2

FY23

(restated)

FY24

(restated)

FY25

FY24 FY25

(normalized)* (normalized)*

73.6

73.8

-0.4% YoY

+5.2%

19.3

18.3

19.3

0.9

4Q24

3Q25

4Q25

4Q25

(normalized)*

11.0

11.0

10.5

11.2

O&M

Personnel

Interconnection

G&A

Marketing

*) By factoring out Early Retirement Program (ERP) in FY24, FY25, and 4Q25

**) Any discrepancies in growth figures are attributable to rounding

Accelerating Transformative Execution | Page

Accelerating Transformative Execution | Page 28

***) The figures on this slide are derived by Investor Relations to the best of our abilities to quantify 2023 income statements data (please refer to note 2z.3 on the financial statements), these figures may differ from reported IFAS and IFRS.

FY25 Consolidated – Info Memo Data & FS

FY25 and 4Q25 Additional Information – Total Expense Breakdown (3/3)

• Operation, Maintenance & Telco Services (O&M) expenses

  • Flat for FY25 (+0.1% YoY) to Rp 41.2tn, as a result of continued discipline in cost management for both fixed and variable components.

  • In 4Q25 O&M expense increased by 4.0% QoQ to Rp 11.0tn, in line with higher revenues from the network and managed devices businesses this year.

• Personnel expenses

  • In FY25 declined by 2.6% YoY to Rp 16.4tn, mainly attributable to lower FTE headcount in FY25 to 19,082 from 19,695 employees in FY24.

  • In 4Q25 personnel expense increased by 16.5% QoQ to Rp 4.5tn driven by the Early Retirement Program (ERP) for 612 employees (cost Rp 937bn).

• Interconnection expenses

  • Increased by 2.0% YoY to Rp 7.0tn in FY25, reflecting readiness to handle higher international traffic at the current scale.

  • In 4Q25, declined by 7.4% QoQ to Rp 1.4tn mainly due to lower traffic QoQ, as well as ongoing shift in consumer behavior from legacy to OTT services.

• General & Administrative (G&A) expenses

  • Grew by 6.0% YoY to Rp 6.6tn in FY25, primarily due to higher provision booking at Telkomsel for Indihome B2C and postpaid mobile. The higher provisioning reflects a deliberate, conservative stance for bad debt provisioning, as we focus on subscriber quality, Telkomsel is focused on acquiring and retaining higher-quality customers, via improvements in our business processes in customers acquisition i.e. upfront payment/bundled payment

  • On a QoQ basis, G&A expenses declined by 3.8% to Rp 1.6tn as a result of better collection in B2B subscriptions.

• Marketing expenses

  • Declined 14.0% YoY to Rp 3.3tn in FY25, due to disciplined spending, while QoQ, Marketing expense grew by 7.3% QoQ to Rp 0.9tn driven by seasonal factors related to holiday. Marketing expenses for FY25 accounted for 2.2% of Telkom’s total revenue, relatively in-line with the annual historical average of 2-3%.

• Depreciation & Amortization expenses

  • Increased by 10.1% YoY to Rp 37.6tn in FY25, mainly driven by Rp 5.0tn of depreciation adjustments following revisions to the estimated useful lives of cable networks,

    switching and transmission equipment (Rp 3.0tn), and accelerated depreciation of transport and CPE equipment (Rp 2.0tn).

• Other Income – net

  • Declined by 90.6% YoY to Rp 57bn in FY25, driven by unrealized loss on changes in fair value of investments Rp (242)bn in FY25 and normalization of gain effect from

Telkomsel’s assets (In-building Antenna System) in FY24.

FY25 Consolidated – Info Memo Data & FS

One-off items impacting FY25 Total Expense

YoY Normalized Personnel Expense (Rp tn) QoQ Normalized Personnel Expense (Rp tn)

16.8

-2.6%

16.4

15.6

-1.3%

+16.5%

-8.0%

4.5

3.8

3.8

3.5

ERP

Expense

3Q25

4Q25

0.9 tn

0.9 tn

1.2 tn

15.4

ERP

Expense

FY24 FY25

Personnel Expense Normalized Personnel Expense Personnel Expense Normalized Personnel Expense

Depreciation & Amortization Expense (Rp tn) Normalized Depreciation & Amortization Expense (Rp tn)

-0.5%

+10.1%

37.6

34.4

34.2

FY23

(restated)

FY24

(restated)

FY25

32.7

FY23

-0.1%

32.6

FY24

+0.6%

32.8

FY25

*) Any discrepancies in growth figures are attributable to rounding

FY24 & FY23 Financial Statement (Restated) Impact from change in Accounting Policy

December 31 , 2024	Before Adjustment	Adjustment	As Restated
Property and equipment	180,566	(10,231)	170,335
Deferred tax Assets	3,409	1,945	5,354
Total Non-current Assets	236,595	(8,286)	228,309
Total Assets	299,675	(8,286)	291,389
Retained Earnings: Unappropriated	109,596	(8,286)	101,310

• Drop cable (“last mile to customer”) reclassified as a separate asset component (from access network) to better reflect customer-specific nature.

• Assets useful life changed from 25 to 5-10 years, aligned with usage and

  economic benefits, treated as a change in accounting policy (PSAK 208).

• To be applied retrospectively, with restatement of 2023-2024 financials.

• Adjustment to retained earnings (pre-2023); no cash flow & dividend impact.

  			Changes In Fixed		Asset	Value			Net equity attributable to: Owners of the parent company	142,094	(8,286)	133,808
  						–	10.2tn		Total Equity	162,490	(8,286)	154,204
  			-8.7tn						Total Liabilities and Equity	299,675	(8,286)	291,389
  	180	.8			180.	6
  			172.1				170.3		January 1 , 2024	Before Adjustment	Adjustment	As Restated
  									Property and equipment	180,755	(8,692)	172,063
  									Deferred tax Assets	4,170	1,652	5,822
  									Total Non-current Assets	231,429	(7,040)	224,389
  									Total Assets	287,042	(7,040)	280,002
  									Retained Earnings: Unappropriated	103,104	(7,040)	96,064
  									Net equity attributable to:
  Owners of the parent company										135,744	(7,040)	128,704
  Total Equity										156,562	(7,040)	149,522
  Total Liabilities and Equity										287,042	(7,040)	280,002

  FY23 FY23 (Restated)

  FY24 FY24 (Restated)

  *) Please refer to note 2z.3 on the financial statements

  FY25 Consolidated – Info Memo Data & FS

  FY25 Operating Cash Flow Rises 3.6% YoY

  Key Indicators (Rp Bn)	Consolidated
  	FY25	FY24	FY25 YoY (%)	4Q25	3Q25	4Q25 QoQ (%)
  Cash Flows from Operating Activities	63,842	61,600	3.6	14,237	17,032	(16.4)

  Cash Flows used in Investing Activities	(26,095)	(29,456)	(11.4)	(7,545)	(7,090)	6.4
  Cash Flow used in Financing Activities	(37,743)	(27,505)	37.2	(4,030)	(11,793)	(65.8)
  Net Increase (Decrease) in Cash and Cash Equivalents	4	4,639	(99.9)	2,662	(1,851)	(243.8)
  Effect of Exchange Rate Changes on Cash and Cash Equivalents	320	260	23.1	12	220	(94.5)
  Allowance for Expected Credit Losses	(1)	(1)	0.0	0	0	0.0
  Cash and Cash Equivalents at Beginning of Year	33,905	29,007	16.9	31,554	33,185	(4.9)
  Cash and Cash Equivalents at End of Period	34,228	33,905	1.0	34,228	31,554	8.5

• Net Cash from Operations – Operating cash flow remained resilient at Rp 63.8tn in FY25, increased by 3.6% YoY despite softer revenue. The improvement was mainly supported by lower personnel expense following successful ERP, better collection ratio and lower corporate income tax payments in line with reduced taxable income. On a Quarterly basis, net cash from operating activities declined by 16.4% QoQ to Rp 14.2tn due to higher cash payment for operating expenses in 4Q25.

• Net cash used in investing activities during FY25 declined by 11.4% YoY to Rp 26.1tn due to decline in acquisition of fixed assets and intangibles compared to the same period last year. On a quarterly basis, net cash used in investing activities increased by 6.4% QoQ to Rp 7.5tn largely reflecting the higher capex spending (carry over on Data Center) and project completion at the end of the year.

• Net cash used in financing activities increased by 37.2% YoY to Rp 37.7tn, primarily due to higher increase in loan repayment compared to increase in loan withdrawals in 2025 and higher dividend payment for 2024 fiscal year amounting to Rp 21.0tn, compared to Rp 17.7tn last year. Quarterly, the net cash used in financing activities decreased by 65.8% QoQ due to higher loan withdrawals but lower repayment compared to 3Q25 and proceeds from issuance of new shares of subsidiaries.

FY25 Consolidated – Info Memo Data & FS

FY25 Debt Profile

In FY25, the majority of Telkom’s debt remained denominated in Rupiah. Total debt (including lease) declined by 2.5% YTD to Rp 74.9tn, primarily driven by repayment of Rp 2.3tn of matured bonds. As of FY25, Telkom has total outstanding corporate bonds of Rp 2.7tn.

	Key Indicators (Rp Bn)	FY25	FY24 (restated)	YoY (%)	9M25	QoQ (%)
DEBT CURRENCIES
IDR/Rupiah		74,712	76,682	(2.6)	77,543	(3.7)
USD/US Dollar		173	159	8.8	109	58.7
MYR/Malaysian Ringgit		26	27	(3.7)	26	0.0
TOTAL DEBTS	74,911		76,868	(2.5)	77,678	(3.6)

Short-term bank loans	6,929	11,525	(39.9)	7,569	(8.5)
Current maturities of long-term borrowings	17,746	15,866	11.8	20,150	(11.9)
Current maturities of lease liabilities	5,590	5,491	1.8	6,125	(8.7)
Total current maturities of debts	30,265	32,882	(8.0)	33,844	(10.6)
Lease liabilities	18,547	18,468	0.4	18,032	2.9
Long-term borrowings – net of current maturities	26,099	25,518	2.3	25,802	1.2
Total non-current maturities of debts	44,646	43,986	1.5	43,834	1.9
TOTAL DEBTS (WITHOUT LEASES)	50,774	52,909	(4.0)	53,521	(5.1)
TOTAL DEBT INCLUDING LEASES	74,911	76,868	(2.5)	77,678	(3.6)

	Key Indicators	FY25	FY24 (restated)	9M25
% of current maturity Debt		40.4	42.8	43.6
% of long-term Debt		59.6	57.2	56.4
Fixed rate borrowings (Rp Bn)		37,757	48,097	50,053
Portion (%)		50.4	62.6	64.4
Variable rate borrowings (Rp Bn)		37,154	28,771	27,625
Portion (%)		49.6	37.4	35.6
Finance Cost (Rp Bn)		5,206	5,208	4,031
Avg cost of debts (%)		7.0	6.8	5.2

FY25 Consolidated – Info Memo Data & FS

Return on Equity (%)

FY25 Key Financial Ratios

Debt to Equity (%)

Debt to EBITDA (x)

Return on Assets (%)

45.56

49.85

49.76

0.88

1.02

1.04

1.01

1.02

11.01

10.12

8.51

10.70

20.62

16.25

19.49

20.22

19.13

10.21

FY23

FY24

FY25

FY23

FY24

FY25

FY24

FY25

FY23

FY24

FY25

FY24

FY25

(normalized)* (normalized)* (normalized)* (normalized)*

(normalized)* (normalized)*

FY25

FY24

FY25

FY24

FY23

Net Debt to Equity (%)

Net Debt to EBITDA (x)

Debt Service Ratio (x)

10.85

25.05

27.03

26.08

0.48

0.56

0.54

0.55

0.54

2.57

1.97

2.04

2.00

13.02

Return on Invested Capital (%)

14.17

13.49

12.77

2.06

FY23

FY24

FY25

FY23

FY24

FY25

FY24

*

FY25

*

FY23

FY24

FY25

FY24

FY25

(normalized*) (normalized)*

FY25

FY24

FY25

FY24

FY23

*

(normalized) (normalized)

(normalized)*

(normalized)

*) By factoring out:

• Early Retirement Program (ERP), depreciation adjustment, and unrealized gain (loss) from our investments in FY25;

• Early Retirement Program (ERP), depreciation adjustment, unrealized gain (loss) from our investments and Telkomsel’s asset unlockingFY24

  Accelerating Transformative Execution | Page 35

  Stand Alone Data

  CONSOLIDATED STATEMENTS OF PROFIT AND LOSS
  Rp bn		YoY			QoQ
  	FY25	FY24	Growth	4Q25	3Q25	Growth
  REVENUES
  Legacy	6,334	8,447	-25.0%	1,070	1,434	-25.4%
  Digital Business	76,805	78,286	-1.9%	20,466	19,607	4.4%
  IndiHome B2C	26,168	26,606	-1.6%	6,396	6,490	-1.4%
  Total Revenues	109,307	113,340	-3.6%	27,932	27,530	1.5%
  EXPENSES
  Operations and maintenance	37,164	39,512	-5.9%	9,018	9,212	-2.1%
  Personnel	8,025	7,741	3.7%	2,093	1,985	5.5%
  Marketing	3,310	3,592	-7.8%	914	887	3.0%
  General and administrative	1,438	1,555	-7.5%	354	384	-7.6%
  Cost of services	8,037	7,981	0.7%	1,981	2,173	-8.8%
  Interconnection	1,709	1,622	5.4%	434	421	3.1%
  Total Expenses exclude depreciation & others	59,683	62,003	-3.7%	14,795	15,062	-1.8%
  Depreciation and amortization	21,704	21,880	-0.8%	5,463	5,449	0.3%
  Others – net	(950)	(895)	6.1%	(408)	66	720.6%
  Total Expenses include depreciation & others	80,436	82,988	-3.1%	19,850	20,577	-3.5%
  Finance charges – net	(3,407)	(3,003)	13.5%	(873)	(961)	-9.2%
  INCOME BEFORE TAX	25,463	27,349	-6.9%	7,209	5,993	20.3%
  INCOME TAX EXPENSE	(5,776)	(5,347)	8.0%	(1,807)	(1,283)	40.9%
  NET INCOME	19,687	22,002	-10.5%	5,401	4,710	14.7%
  EBITDA	49,624	51,337	-3.3%	13,137	12,468	5.4%
  EBITDA Margin	45.4%	45.3%	0.1ppt	47.0%	45.3%	1.7ppt
  ROA	17.0%	19.3%	-2.3ppt	17.0%	18.1%	-1.2ppt
  ROE	66.4%	72.0%	-5.6ppt	66.4%	83.7%	-17.3ppt

  FY25 Telkomsel – Stand Alone data

  Telkomsel – Profitability Strengthened with Improving Market Conditions (2/2)

  QoQ EBITDA and net income growth supported by disciplined cost management, operational efficiency, and improving market conditions

  Strengthen Digital Leadership while Navigating Market Recovery

• Mobile revenue growth reflecting improving market conditions and the early impact of industry market repair initiatives.

• Data consumption increased with traffic continuing to grow by 15.0% YoY while yield remained stable.

• Digital Business contributed 95.0% of mobile revenue, up 1.8ppt.

  Managing Household Business with Prudent Growth and Quality Customer Focus

• IndiHome B2C added 712K new subscribers in 2025, bringing the total base to 10.3 million customers. Subscriber additions were managed prudently with focus on customer quality, healthy base expansion and long-term sustainable growth.

• The converged user base continued to grow with 59% penetration, reflecting increasing adoption of integrated mobile and fixed services.

• Revenue moderated amid slower demand and competitive market conditions, while ARPU declined to Rp 214k. In response, the Company continued to optimize entry-level packages, targeted bundling offers, and segmented propositions to support customer value and long-term monetization.

  EBITDA and Net Income – Profitability Strengthened with Positive Sequential Momentum

• As market conditions showed improvement in second half, profitability strengthened, with EBITDA growth by +5.4% QoQ while FY25 margin remained healthy at 45%, supported by disciplined cost management and ongoing integration synergies.

• Telkomsel FY25 reported Net Income of Rp 19,687bn, supported by 4Q25 growth of +14.7% QoQ.

FY25 Telkomsel – Stand Alone data

Telkomsel – Maintaining a Healthy Financial Position

Strong financial fundamentals maintained through disciplined capital allocation, efficient funding strategy, and sustainable cash generation

Description	Dec-24	Dec-25	Growth
Total Asset	117,403	114,627	-2.4%
Current Asset	19,374	17,651	-8.9%
Non-Current Asset	98,029	96,976	-1.1%
Total Liabilites S/H Equities	117,403	114,627	-2.4%
Liabilities	86,415	86,350	-0.1%
Current Liabilities	41,199	41,560	0.9%
Non-Current Liabilities	45,216	44,791	-0.9%
Stockholder Equities	30,989	28,276	-8.8%

Balance Sheet

Cash Flow

Balance Sheet – Maintained a healthy fundamental financial position

• Lower current assets were primarily due to a decrease in cash and cash equivalents, coupled with lower trade receivables. Lower non-current assets were primarily due to decreases in property and equipment and long-term prepayments.

• Higher current liabilities were primarily due to an increase in current maturities of medium-term loans, partially offset by a decrease in accrued liabilities. Lower non-current liabilities were driven by a decrease in lease liabilities.

• Lower total equity was primarily due to a decrease in retained earnings.

  Description	Dec-24	Dec-25	Growth
  Cash at Beginning Period	5,135	3,520	-31.4%
  Cash Flow from Operating Activities	38,948	36,813	-5.5%
  Cash Flow from (for) Investing Activities	(14,932)	(14,283)	-4.3%
  Cash Flow from (for) Financing Activities	(25,631)	(22,938)	-10.5%
  Cash at Ending Period	3,520	3,113	-11.6%

  Cash Flow – Sustainable cash generation

• Cash flows from operating activities were lower as an impact from the decrease in cash generated from operations.

• Cash flows from investing activities decreased as investments made during the integration process in the previous period were made to enhance the company’s infrastructure and long-term capabilities.

• Cash flows from financing activities were lower primarily due to loan proceeds

and repayment.

FY25 Telkomsel – Stand Alone data

ARPU & Data Yield Recovery Continued in 2H25

Driving growth supported by improving ARPU, payload, and focus on quality subscribers

Key Metrics:

4,119

45.3

4.1

4,406

49.7

4.1

4,419

48.6

3.9

4,538

46.5

3.9

4,711

45.3

3.7

4,814

45.0

3.6

5,028

43.1

5,355

44.0

5,643

42.4

5,798

41.3

5,832

5,622

45.0

43.4

3.3

3.2

2.9

2.7

3.1

3.1

151.1

153.3

158.3

159.3

159.7

159.9

158.4

159.4

158.8

158.4

157.6

156.1

1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25

Customer Base (Mn) Payload (PB)

RpMB (Rp) ARPU (Rp 000)

FY25 Telkomsel – Stand Alone data

Telkomsel – Quality-Led Growth Driven by Mobile Business Momentum

Remained the key driver of total revenue growth, supported by improving ARPU, payload, and focus on quality subscribers

MOBILE REVENUE

(in Rp Bn)

CUSTOMER BASE

(in 000)

ARPU

(in Rp 000)

PAYLOAD

(in Pb)

BTS

(in 000)

-4.1%

76,805

78,286

YoY

86,733 83,139

-2.1%

159,389 156,060

-3.1%

44 43

+15.0%

19,909 22,895

+8.2%

271 293

1

221

FY24 FY25

FY24 FY25

FY24 FY25

FY24 FY25

FY24

FY25

+2.4%

20,466

19,607

QoQ

21,041 21,536

-1.0%

157,587 156,060

+3.6%

43 45

+3.7%

5,622 5,832

+1.7%

288 293

4 236

3Q25 4Q25

3Q25 4Q25

3Q25 4Q25

3Q25 4Q25

3Q25

4Q25

Dig. Business Revenue

5G

4G

2G

Accelerating Transformative Execution | Page

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PT Telkom Indonesia (Persero) Tbk published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 09:13 UTC.