Dear Distinguished Shareholders and Stakeholders,

Despite the increasingly intensive condition of the telecommunications industry, PT Profesional Telekomunikasi Indonesia (“Protelindo” or the “Company”) was able to record stable and sustainable performance in 2025. The achievements were supported by implementation of a well-directed business strategy, including optimization of tower assets, expansion of fiber optic networks and connectivity as the Group’s core business, as well as strengthened synergy within the Group ecosystem, including through execution of strategic acquisitions by Subsidiaries to expand services and customer base. In addition, strengthening of capital structure and the role of the holding company in supporting business development further reinforced business fundamentals through disciplined and efficient operational and financial management. These initiatives form a solid foundation for the Company’s sustainable growth amid the increasingly consolidated national telecommunications industry.

During the reporting period, the Company maintained a strong market position as a tower operator and digital infrastructure provider, consistent with its role in supporting digital transformation and enhancing connectivity across Indonesia. In parallel, the Company continued to safeguard shareholder interests through the consistent distribution of dividends.

This Annual Report is prepared as an accountability report of the Board of Directors for the management and oversight of the Company’s operations throughout 2025, and as part of the implementation of sound corporate governance in accordance with prevailing laws and regulations.

MACROECONOMIC AND INDUSTRY OVERVIEW

In 2025, global economic growth moderated, primarily driven by escalating geopolitical tensions and the implementation of reciprocal trade tariffs by the United States, reflecting a strengthening trend toward protectionism. While global manufacturing activity remained in expansionary territory, the pace of growth softened amid declining global consumer confidence regarding economic prospects.

The global slowdown was accompanied by increasing economic fragmentation across countries and rising fiscal risks in several jurisdictions. The United States economy demonstrated relatively solid performance with easing inflation, supported by improved household consumption, reduced imports, and increased investment related to artificial intelligence development. In contrast, China’s economy experienced a more pronounced slowdown, largely due to pressures in the property sector and contraction in manufacturing activity.

Global financial markets experienced heightened volatility throughout 2025. Toward the end of the year, market volatility began to subside following the Federal Reserve’s decision to reduce the Federal Funds Rate (FFR) by 25 basis points in December 2025. Overall, global equity markets recorded gains, although concerns regarding potential valuation bubbles in technology stocks persisted.

Amid the global economic moderation, Indonesia’s economy demonstrated resilience and continued to grow positively. Statistics Indonesia reported yearon-year economic growth of 5.11% in 2025, supported primarily by sustained household consumption, increased investment, and government spending.

In line with economic growth, annual inflation was recorded at 2.92%, while foreign exchange reserves remained well-managed and were considered adequate to absorb external shocks. The Rupiah depreciated by 3.46% against the US dollar and closed at Rp16,690 per US dollar as of 31 December 2025, mainly reflecting heightened global uncertainty.

To maintain macroeconomic stability, Bank Indonesia implemented monetary policy measures, including a reduction in the BI Rate. Over the course of 2025, the policy rate was lowered by a total of 100 basis points, from 5.75% at the beginning of the year to 4.75% at year-end.

In the capital market, performance throughout 2025 improved, as reflected in a 22.13% year-on-year increase in the Composite Stock Price Index (IHSG), which closed at 8,646.94 as of 31 December 2025. This improvement was also supported by the continued growth in domestic retail investor participation.

From a sectoral perspective, the information and communication sector recorded growth of 8.35%, exceeding the national economic growth rate. This performance was in line with increasing digital economic and financial activities, as well as expanding connectivity. The Government continued to promote service quality improvements and broader connectivity coverage across Indonesia.

On regulatory, efforts to enhance connectivity were carried out by the Minister of Communication and Digital Regulations No. 2 and No. 13 of 2025, which govern the utilization of radio frequency spectrum in the 1.4 GHz band. These regulations provide a foundation for broadband network expansion and preparation for the transition toward 5G technology. The Government also launched the Nusantara 5 (N5) Satellite to support more equitable internet access, particularly in remote areas.

At the industry level, consolidation continued with the merger of two major telecommunications operators, aimed at improving service quality, increasing internet access speeds, and accelerating national digital transformation. However, such consolidation also contributed to downward pressure on tower tenancy rates within the telecommunications infrastructure sector.

STRATEGY IN 2025

Throughout 2025, the Company implemented a series of strategic initiatives aimed at driving sustainable growth amid an evolving industry landscape. In response to the increasing demand for digital services and connectivity, the Company consistently strengthened its telecommunications infrastructure through the development of tower assets and the expansion of fiber optic networks and connectivity services as the Group’s core business, while optimizing services and expanding its customer base through enhanced synergies within the Group’s business ecosystem.

The Company adopted the Build–Buy–Return strategy as its primary framework to accelerate growth, maintain financial discipline, and create added value for shareholders. Under the Build strategy, the Company continued to invest in build-to-suit towers, colocation, and the expansion of fiber networks, including Fiber-to-the-Tower (FTTT) and Fiber-tothe-Home (FTTH). The Buy strategy was executed by capturing selective acquisition and expansion opportunities, supported by a strong and liquid capital structure. Meanwhile, the Return strategy focused on maintaining an investment-grade rating and ensuring consistent dividend distribution.

Through the implementation of these strategies, the Company further strengthened its position as one of Indonesia’s leading independent digital infrastructure providers, supported by a broad asset portfolio comprising 36,247 towers and approximately 185,000 km of fiber optic network. The majority of the Company’s business model is based on longterm non-cancellable contracts, generating stable, recurring, and predictable cash flows, and providing a solid foundation for sustainable expansion.

The development of the Company’s digital infrastructure is carried out to address the evolving and increasingly dynamic needs of the telecommunications industry. Amid ongoing industry consolidation, the Company proactively maintains intensive communication with merged entities to align infrastructure development plans with customer requirements. At the same time, the Company continues to optimize its assets on an ongoing basis to sustain competitiveness in an increasingly competitive industry environment.

In addition, the Company has anticipated industry developments in recent years by diversifying into nontower segments, including through the development of Fiber to the Tower, Fiber to the Home, and Connectivity services, as well as through several strategic acquisitions in business segments that support the Group’s core operations.

In 2025, the Company executed strategic acquisitions through the purchase of a 51% stake in PT Media Antar Nusa and a 40% stake in PT Remala Abadi Tbk (DATA) through its Subsidiary, PT iForte Solusi Ifotek. In relation to the acquisition of DATA, in accordance with POJK No. 9/POJK.04/2018, Iforte, as the new controlling shareholder, conducted a mandatory tender offer to DATA’s public shareholders. Furthermore, on 30 October 2025, based on the call and put option agreement dated 23 December 2024, Iforte exercised its call option for an additional 151,249,100 shares, equivalent to approximately 11% ownership in DATA, from the previous controlling shareholder at the agreed price. As of now, the settlement process for this transaction is still ongoing.

These acquisitions represent a strategic step by the Company to support business expansion, optimize asset utilization, expand network coverage, and strengthen its position in digital telecommunications infrastructure, particularly in the B2C connectivity segment (C minus and D market). This acquisition policy is expected to contribute to revenue growth while enhancing synergies with the Company’s existing tower and fiber optic businesses.

On operational, the Company continues to drive efficiency through the adoption of technology, including the use of Internet of Things (IoT) for infrastructure monitoring, business process automation, and the application of artificial intelligence for more accurate data analysis. These initiatives not only improve asset performance but also enable early detection of potential disruptions. In parallel, the Company continues to develop its Power-as-a-Service (PaaS) offering as an efficient and reliable energy management solution for customers.

To support sustainable growth and strengthen its capital structure, SMN, the Company’s Group also undertook a rights issue during the year. This corporate action reflects the Company’s commitment to prudent and efficient financial management, while maintaining investor confidence.

The Company also maintains disciplined capital management supported by strong cash flow generation and a solid liquidity position, along with access to costefficient funding sources. This approach provides flexibility to support various strategic initiatives and business expansion. In line with its return strategy, the Company maintained its investment-grade credit rating and distributed dividends amounting to Rp727 billion during 2025.

Overall, these strategic initiatives reaffirm the Company’s commitment to strengthening its leadership in the digital infrastructure sector, expanding service diversification, and creating long-term sustainable value.

ROLE OF THE BOARD OF DIRECTORS IN STRATEGY FORMULATION AND IMPLEMENTATION

The Board of Directors takes an active role in formulating the Company’s strategy and ensuring its effective and measured implementation. The strategy formulation process is conducted comprehensively and aligned with the Company’s vision and objectives as a digital infrastructure provider, considering internal strengths and external dynamics.

In developing the business strategy, the Board of Directors evaluates developments in the digital infrastructure industry, changes in market conditions, prevailing regulatory, and diverse needs of customers. From an internal perspective, the Board also considers human resources capabilities, readiness for digital infrastructure technology adoption, and the availability of funding support to ensure the sustainability of strategy execution.

Short-, medium-, and long-term strategic policies are formulated based on comprehensive data analysis, including the utilization of artificial intelligence to support well-informed decision-making. The analysis of business growth opportunities is carried out in an integrated manner with risk management considerations, as part of the Company’s efforts to balance growth with long-term sustainability

In the implementation phase, the Board of Directors establishes effective communication with relevant business units and monitors the execution of strategies through regular internal meetings. The Board also actively identifies and addresses challenges encountered during implementation to ensure that strategic initiatives remain aligned with the established direction.

In addition to fostering internal synergies, the Board of Directors actively strengthened collaboration across the SMN Group as well as with stakeholders to support the achievement of the Company’s strategic objectives. This effort was undertaken to ensure that the functions of planning, organizing, implementation, and control are carried out effectively and efficiently, supported by balanced resource management and well-directed collaboration within the digital infrastructure ecosystem. This approach serves as a key factor in optimizing the effectiveness of strategic policies while reinforcing the Group’s position in driving sustainable growth.

PERFORMANCE REVIEW FOR 2025 AND COMPARISON WITH TARGETS

The consistent implementation of strategic policies throughout 2025 resulted in relatively stable operational and financial performance. In 2025, the Company recorded revenue of Rp13.33 trillion, an increase of 4.65% year-on-year (yoy) compared to Rp12.74 trillion in the same period of 2024. This revenue realization was equivalent to 104.19% of the 2025 revenue target of Rp12.8 trillion.

The Company’s revenue was primarily supported by long-term tower and fiber optic lease contracts, which generally carry relatively low exposure to market and technological risks. In addition, the Company’s digital infrastructure tenants are major telecommunications operators in Indonesia with investment-grade credit ratings, contributing to revenue stability.

On expenses, the Company continued to maintain operational efficiency discipline amid ongoing business expansion. Cost of revenue increased by 4.81% to Rp4.19 trillion in 2025, compared to Rp4.00 trillion in the previous year, in line with higher operational activity and the expansion of fiber and connectivity services. At the same time, the Company continued to manage its cost structure prudently through various efficiency initiatives, as reflected in the control of selling and marketing expenses, general and administrative expenses, and other operating expenses.

Strengthening of the Company’s capital structure, supported by the parent company, PT Sarana Menara Nusantara Tbk, particularly for the settlement of obligations to creditors, contributed to a reduction in leverage. In line with this, the Company’s equity increased by 41.92% yoy to Rp27.08 trillion in 2025, compared to Rp19.08 trillion in the previous year. This increase reflects a stronger capital structure supported by business performance and corporate actions undertaken during the year.

The Company recorded operating profit of Rp7.51 trillion in 2025, representing an increase of 3.12% compared to Rp7.29 trillion in 2024. Profit for the year reached Rp3.70 trillion in 2025, up by 9.23% compared to Rp3.38 trillion in the previous year.

On business development, the completed acquisition of DATA in 2025 has strengthened the Company’s market position in the digital infrastructure sector, enhanced service capacity, and expanded the reach of fiber optic connectivity, particularly in the B2C segment (C minus and D market).

In terms of tenancy, the number of tenants increased from 58,035 tenants in 2024 to 58,213 tenants as of September 2025, resulting in a tenancy ratio of 1.67x. The increase in tenants across the Company’s towers indicates growing demand for connectivity infrastructure, in line with the ongoing digitalization trend.

As of December 31, 2025, in the fiber optic network segment, the Group recorded an increase in fiber optic (“FO”) assets to approximately 185,000 km, including assets owned by Remala, which is an associate entity of the Company. Of the total FO assets, approximately 224,000 km represented revenue-generating FTTT. Furthermore, in the FTTH segment, the Company Group’s FO business segment covered 2,344,187 home passes, including assets owned by Remala, which is an associate entity of the Company, with a penetration rate of 16.6%, or approximately 390,222 home connects. In the connectivity business segment, the Company Group recorded 25,930 activations from 758 Points of Presence (“PoP”) spread across more than 120 cities in Indonesia as of the end of 2025.

BUSINESS SUPPORT OVERVIEW

The Company continuously strengthens its business support functions as part of its efforts to maintain sustainable business performance. These initiatives encompass the optimization of information technology utilization, human capital development, the management of a more efficient and credible financial structure, and the enhancement of corporate governance practices to support sustainable growth.

In information technology, the Company continues to strengthen its investments through the development of IoT-based monitoring systems to track the condition of towers and fiber optic networks in real time. In addition, the Company has developed various digital applications to support transaction recording, reporting, internal and external data integration, and business process automation. These initiatives enhance operational efficiency, accelerate decision-making, and improve service quality for customers.

During the year, the Company also advanced its data platform transformation, enabling automated and self-service data analytics while improving overall operational visibility. Furthermore, the Company selectively implemented artificial intelligence (AI) technologies to support process automation and enhance operational capabilities, while strengthening IT governance and cybersecurity through improved infrastructure architecture, access management, and employee awareness programs. These initiatives contribute to improved efficiency, reliability, and resilience of the Company’s digital infrastructure.

In parallel with technological optimization, the Company prioritized the development of human capital capabilities (“Pro People”) to ensure organizational readiness in strengthening its position within the digital infrastructure market. This was carried out through the participation of Pro People in a range of technical and managerial training programs conducted both internally and in collaboration with external parties.

With respect to technical competencies, Pro People participated in training programs related to fiber optic networks and digital infrastructure solutions. Meanwhile, in the areas of management and leadership, the Company implemented Leadership Development programs aimed at preparing future leadership candidates.

Beyond competency development, the Company also sought to foster an inclusive and productive working environment through the implementation of employee welfare initiatives, including health programs, work-life balance initiatives, and the application of performance-based remuneration systems aligned with industry practices.

CHALLENGES AND MITIGATION MEASURES

Ongoing consolidation within the telecommunications industry exerted pressure on tower utilization, as reflected in a decline in the tenancy ratio. In response to this condition, the Company undertook service diversification through the development of Poweras-a-Service, which offers efficient and reliable power management solutions to telecommunications operator customers.

In addition to industry consolidation, the Company also faced challenges arising from increases in land lease costs and local levies in certain operational areas. To address these cost pressures, the Company implemented operational efficiency initiatives and maintained disciplined financial management to support sustainable business performance.

OUTLOOK FOR 2026

The relatively stable macroeconomic environment and the growth prospects of the telecommunications industry in 2026 provide a solid foundation for the Company’s positive business outlook. In this context, the Company is well-positioned to support the development of fixed-mobile convergence and the acceleration of 5G implementation, in line with the government’s plan to allocate additional spectrum and the commencement of service monetization.

The Company believes that industry prospects will continue to be driven by increasing demand for highspeed internet, the ongoing expansion of 4G networks, and the future acceleration of 5G deployment. In addition, the growing adoption of cloud technology and Artificial Intelligence, along with the structural shift of operators toward asset-light strategies, is expected to further increase demand for integrated digital infrastructure and connectivity solutions.

Furthermore, growth opportunities are expected to arise from the expansion of fiber optic networks and the development of submarine infrastructure, particularly in eastern Indonesia, which remains underutilized. The Company also continues to pursue business diversification toward green energy initiatives, including the installation of battery systems at 700 tower sites to reduce carbon emissions and improve operating cost efficiency, as well as the development of solar panel installation and leasing services to support long-term energy sustainability.

In line with this strategic direction, the Company will implement its 2026 strategy based on four key pillars, namely synergy, revenue generation, operations, and funding.

In terms of synergy and revenue generation, the Company will strengthen collaboration across business lines and leverage the Group’s business ecosystem to expand the range of products and services offered, in line with customers’ needs and the overall operational efficiency strategy.

Under the operational pillar, the Company will continue to advance digitalization and end-to-end integration of business processes, while enhancing cost efficiency across all business lines to support sustainable profitability. Meanwhile, under the funding pillar, the Company will maintain a healthy capital structure by keeping leverage within the investment-grade range and exploring alternative non-bank funding sources, including bond issuances.

Taking these opportunities into account, the Company remains confident in its future business prospects. The Company will continue to play its strategic role as a reliable and trusted digital infrastructure provider in supporting national digital transformation and expanding connectivity access, as part of its contribution toward Indonesia Emas 2045.

GOOD CORPORATE GOVERNANCE IMPLEMENTATION

The Company applies the principles of Good Corporate Governance (GCG), including transparency, accountability, responsibility, independence, and fairness, across all business activities. The implementation of GCG is intended not only to ensure compliance with prevailing laws and regulations, but also to serve as a foundation for creating long-term value for shareholders and other stakeholders.

Efforts to enhance the quality of GCG implementation are carried out through the alignment of internal policies with regulatory developments, the strengthening of oversight functions by governance bodies, and the optimization of reporting and risk management systems. In parallel, the internal control system continues to be reinforced to ensure sound business processes and to support the prevention and detection of potential misuse of the Company’s resources.

In managing risks, the Company utilizes a digitalbased risk management system to enhance the effectiveness of risk identification, monitoring, and mitigation processes, covering both operational and financial risks. The Company also continuously improves the competencies of relevant units involved in risk management to remain aligned with evolving practices and developments.

The Company continued to internalize governance principles by strengthening compliance culture throughout the organization. This is implemented, among others, by disseminating the Company’s code of ethics, enforcement of anti-corruption policies, and conduct of internal audits. All audit findings are duly followed up in line with the Company’s established internal procedures.

The reinforcement of governance best practices is supported by the implementation of a whistleblowing system, which serves as a reporting mechanism for alleged violations, including corruption, abuse of authority, and breaches of the code of ethics. This system is designed to ensure that all reports are properly received, managed, and addressed in an objective and accountable manner.

In its implementation, the Company has established standard operating procedures covering reporting mechanisms, reporting channels, follow-up processes, and protection for whistleblowers. To ensure the effectiveness of the whistleblowing system, the Company has appointed designated officers responsible for overseeing and managing the reporting mechanism.

The Company’s commitment to GCG implementation is reflected, among others, in the results of compliance assessments. In 2025, the Company was awarded the Gold Predicate at the Indonesian Regulatory Compliance Awards (IRCA) 2025, conducted by an independent institution, recognizing the Company’s consistent focus on regulatory compliance amid business complexity.

In addition, the Company successfully maintained an MSCI ESG rating of AA and received an ESG Risk Rating of 23.8 from Sustainalytics, classified as medium risk. The Company also successfully maintained its Corporate Credit Rating from S&P (Score: BBB-) and Fitch (Score: AAA (national) and BBB (global). These achievements underscore the effectiveness of the Company’s governance practices, transparency, and risk management in supporting business sustainability.

COMMITMENT TO SUSTAINABILITY

The Company implements sustainable business practices by integrating Environmental, Social, and Governance aspects across all business activities. The application of sustainability principles is intended not only to ensure compliance with prevailing regulations, but also to support the creation of long-term value for shareholders and other stakeholders.

On environmental perspective, the Company utilizes solar panel capacity at tower sites and optimizes the use of lithium batteries to replace diesel generators. These initiatives are aimed at reducing carbon emissions and supporting the transition toward cleaner energy sources. In addition, the Company manages non-hazardous waste by consistently applying the reduce, reuse, recycle principles. On social aspect, the Company expanded its social initiatives through ProtelindoSky, which provides free internet access to communities surrounding tower sites. Furthermore, through its subsidiary, the Company implemented the iFortePreneur program to support micro, small, and medium enterprises in strengthening digital capabilities and enhancing business competitiveness.

In parallel with social initiatives and human capital development, the Company launched Pro Action, an annual initiative focused on enhancing the competencies of Pro People. The program commenced with a three-month capacity-building phase through in-house developed courses aimed at equipping participants with knowledge and skills related to artificial intelligence, automation, and the application of other technologies supporting the Company’s operations.

As part of the initiative, Pro People were encouraged to propose innovative ideas to optimize work processes through the use of technology. From the ideas submitted, ten were selected for direct implementation by the Company. Through Pro Action, the Company reaffirmed its commitment not only to developing telecommunications infrastructure, but also to fostering an adaptive work culture that is prepared for the advancement of artificial intelligenceand automation-driven industries.

APPRECIATION

In closing, on behalf of the Board of Directors of Protelindo, we express our appreciation to the Board of Commissioners for consistent execution of its oversight function, as well as to our shareholders for their continued support of the Company’s strategic direction. We also extend our gratitude to the management team and all employees for their dedication, commitment, and collaboration in supporting the achievement of the Company’s objectives.

We likewise convey our appreciation to our strategic partners, vendors, customers, communities, and all other stakeholders for their support of the Company’s business activities. We hope that the strong relationships and cooperation that have been established will continue to grow in line with the Company’s commitment to conducting its business sustainably.