2014 • Formation of PT Prima Sarana Mustika, a 40:60 JV for road construction and leasing of heavy equipment • Expansion of sugar business via the acquisition of PT Madusari Lampung Indah 2015 • 24% of nucleus CPO production was ISPO-certified 2016 • Acquisition of PT Pasir Luhur, a tea plantation company • 39% of nucleus CPO production was ISPO-certified 2017 • Formation of PT Indoagri Daitocacao, a 49:51 JV to manufacture and market chocolate products • 57% of nucleus CPO production was ISPO-certified 2018 • Formation of Canápolis Holding S.A. (Canápolis), a 50:50 JV to acquire a second sugar and ethanol mill in Brazil • Acquisition of Vale do Pontal Açucar e Alcool Ltda (UVP), a sugar and ethanol mill operator in Brazil, turning CMAA into a 35:35:30 JV • 62% of nucleus CPO production was ISPO-certified 2019 • Commencement of operations at the newly completed chocolate factory • 71% of nucleus CPO production was ISPO-certified 2020 • Restructuring of sugar operations in Brazil, with IndoAgri owning 36.21% of CMAA and Bússola • 78% of nucleus CPO production was ISPO-certified 2021 • 86% of nucleus CPO production was ISPO-certified 3 Annual Report 2025 Group Overview Operation and Financial Review Financials Other Information Sustainability and Governance
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