Group Overview Operation and Financial Review Financials Other Information Sustainability and Governance 125 Annual Report 2025 Notes to the financial statements For the financial year ended 31 December 2025 21. Investment in joint ventures (cont’d) For the year ended 31 December 2025, the Group’s share of losses in Bússola exceeds the Group’s interest in its joint venture. The Group discontinues recognising its’ share of further losses beyond the carrying amount of the joint venture and the Group’s cumulative share of unrecognised losses at the end of the reporting period is Rp37.2 billion (2024: Nil). The Group has not incurred obligations or made payments on behalf of the joint venture. Summarised financial information in respect of CMAA and Bússola based on its respective local financial reporting standards which are closely aligned with SFRS(I), and reconciliation with the carrying amount of the investment in the consolidated financial statements are as follows: Summarised balance sheet Group 2025 2024 CMAA Bússola CMAA Bússola Rp million Rp million Rp million Rp million Cash and cash equivalents 1,445,271 107,224 2,506,316 110,638 Other current assets 3,605,762 9,678 3,151,277 5,975 Current assets 5,051,033 116,902 5,657,593 116,613 Non-current assets 12,340,697 1,088,904 9,860,648 974,975 Total assets 17,391,730 1,205,806 15,518,241 1,091,588 Current liabilities (2,799,975) (324,440) (3,683,156) (72,591) Non-current liabilities (12,460,787) (990,404) (9,823,577) (994,776) Total liabilities (15,260,762) (1,314,844) (13,506,733) (1,067,367) Net assets/(liabilities) 2,130,968 (109,038) 2,011,508 24,221 Proportion of the Group’s ownership 36.21% 36.21% 36.21% 36.21% Group’s share of net assets/(liabilities) 771,624 (39,483) 728,367 8,770 Acquisition costs capitalised 52,405 – 52,405 – Goodwill on acquisition 298,336 – 298,336 – Loss on deemed disposal (87,049) – (87,049) – Dividend payment (342,427) – (342,427) – Foreign currency translation 262,890 39,483 237,284 1,643 Carrying value of investment 955,779 – 886,916 10,413
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