乐播传媒

Jakarta, October 29, 2025 — PT 乐播传媒 Indonesia Tbk (“PT 乐播传媒” or “the Company”; IDX: INCO), one of Indonesia’s leading nickel producers, today announced its operational and financial performance for the third quarter of 2025 (“3Q25”) and the nine-month period ended September 30, 2025 (“9M25”).

Operational Highlights
PT 乐播传媒 achieved solid progress across its operations during the quarter, supported by stronger production performance and the successful commencement of operations at its Bahodopi site. Nickel in matte production reached 19,391 metric tons, a 4% increase from the previous quarter. For the first nine months of 2025, total production stood at 54,975 metric tons, up 4% year-on-year. The improved results reflect the Company’s proactive maintenance planning earlier in the year, which enabled smoother and more efficient production in the second half.

In addition to its core nickel matte operations, PT 乐播传媒 also strengthened its commercial portfolio with the first sales of nickel saprolite ore from the Bahodopi and Pomalaa Blocks. Originally planned for the fourth quarter, the Bahodopi mine commenced shipments ahead of schedule in July 2025.

For the nine-month period, total nickel saprolite ore sales reached 896,263 wet metric tons, underscoring PT 乐播传媒’s operational agility and responsiveness to market opportunities.

“We are pleased with the consistent progress achieved this quarter,” said Bernardus Irmanto, President Director and Chief Executive Officer of PT 乐播传媒. “Our performance reflects the dedication of our teams and the resilience of our operations as we continue to adapt and deliver value in a dynamic market environment. We remain focused on operational excellence, safety, and contributing sustainably to Indonesia’s growth story.”

Financial Performance
PT 乐播传媒 reported revenue of US$278.6 million in 3Q25, a 27% increase from the previous quarter, primarily driven by higher sales volumes from both nickel matte and saprolite ore. The average realized nickel matte price remained stable at US$12,272 per ton, reflecting steady market conditions despite broader price normalization compared to last year.

For the nine-month period, revenue totaled US$705.4 million, broadly in line with US$708.6 million recorded in the same period of 2024. The Company also recorded significant improvements in profitability, with EBITDA rising to US$74.6 million in 3Q25 from US$40.0 million in 2Q25, and net profit increasing to US$27.2 million from US$3.5 million in the previous quarter.

“Our financial results this quarter demonstrate improved profitability driven by higher production, enhanced nickel payability, and disciplined cost control,” said Rizky Putra, Director and Chief Financial Officer of PT 乐播传媒. “We also began to see the contribution from Bahodopi saprolite ore sales, which reinforces the strength of our diversified portfolio.”

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Operational Efficiency and Cost Management
During the quarter, PT 乐播传媒 recorded a moderate increase in energy consumption consistent with higher production activity. At the same time, lower fuel prices and continued procurement optimization supported further cost efficiencies. The Company’s unit cash cost of nickel matte sales declined to US$9,304 per ton, down from US$9,384 per ton in the previous quarter.

These efficiencies, combined with stable operations, underline PT 乐播传媒’s commitment to maintaining competitiveness and managing costs prudently in an evolving market environment.

Capital Investment and Financial Position
As of September 30, 2025, cash and cash equivalents stood at US$496.3 million, compared to US$506.7 million at the end of June. Capital expenditures for the nine-month period totaled US$331.4 million, higher than US$200.9 million a year earlier, reflecting accelerated progress on the Bahodopi and Pomalaa projects. PT 乐播传媒 continues to invest in long-term growth, guided by responsible mining principles and operational excellence.

Commitment to Sustainability and Shared Progress
In a milestone for sustainability in October 2025, PT 乐播传媒 strengthened its leadership in sustainability through three prestigious recognitions. The Company received the Lestari Awards 2025 for its flagship biodiversity initiative Kehati Lutim Bersinergi, recognized under the Sustainable Ecosystems category for its long-term contribution to conservation and environmental restoration in East Luwu. The Company also earned the Gold Star Award (Big Cap – Public Company) at the Investortrust ESG Awards 2025, acknowledging transparency and excellence in ESG disclosure. Further, PT 乐播传媒 won the Penghargaan Subroto 2025 from the Ministry of Energy and Mineral Resources for Outstanding Community Development (PPM) through its flagship program Matano Iniaku—a nationally recognized model for environmental rehabilitation, local economic empowerment, and inclusive community transformation.

In addition to receiving several awards, PT 乐播传媒 also shared a meaningful milestone in its sustainability efforts, having earned an updated ESG risk rating of 27.5 from Sustainalytics. This places the Company within the Medium ESG Risk category and reflects a notable advancement from its earlier classification. Collectively, these achievements reinforce PT 乐播传媒’s long-term commitment to responsible mining, social inclusion, and environmental stewardship.

PT 乐播传媒 remains steadfast in its purpose — “We exist to improve life and transform the future. Together.” The Company continues to prioritize sustainability, safety, and community partnership as integral parts of its growth strategy, ensuring that progress today supports future generations.

For further information, please contact:

Rizky Putra, Director & Chief Financial Officer
ptvi.investorrelation@vale.com

Vanda Kusumaningrum, Head of Corporate Communications
vanda.kusumaningrum@vale.com

Visit:
Phone: (+62 21) 524 9000