PT Vale Indonesia Tbk : Sustainabilty Report 2025 English Revised

About this update from Pt Vale Indonesia Tbk

Sustainability Report 2025 Integrity in Action: Building Trust and Sustainable Value About The Cover The cover depicts a monitoring visit under PTVI's PPM SRI Organik program at IGP Morowali in Desa Ululere, showing engagement between PTVI personnel and community members during program implementation. Initiated in 2023, the program has entered its eighth planting cycle, with monitoring conducted every three months to support effective implementation and ongoing program evaluation. The program includes assistance for organic rice and organic vegetable cultivation, supported by self-produced compost derived from rice husks, with microbial activators provided through the program. It also includes support for community herbal medicine groups (UKBM herbal) through medicinal plant cultivation, as well as agricultural infrastructure support, including approximately 800 meters of irrigation channels and supporting farming equipment. The cover reflects our report theme, Integrity in Action: Building Trust and Sustainable Value, by portraying a practical example of our engagement with surrounding communities through ongoing program monitoring and implementation. Disclaimer The Sustainability Report of PT Vale Indonesia Tbk, hereinafter referred to as the "Report," contains data and information that are material to stakeholders regarding PT Vale Indonesia's sustainability performance in 2025. In general, the contents of this Report are based on internal analysis, as well as credible sources and documents. The terms "PTVI," or "We" used in this Report refer to PT Vale Indonesia Tbk. Readers should be aware that this Report includes information containing forward-looking statements and views. PT Vale understands that risks and uncertainties from various factors could affect operational performance and business conditions in the future. Therefore, we remind readers that the Company cannot ensure that forward-looking statements will reflect actual conditions in the future. Thus, we advise readers to use this information wisely. The tables and charts shown in this Report present numeric data using the standard English notation. The presentation of numerical values in the text also uses the English notational standard. 2 Sustainability Report 2025 Table of Contents Disclaimer 2 Sustainability Management 34 Table of Contents 3 Sustainability in Our Operations Stakeholder Engagement Materiality Review 35 37 40 ESG Roadmap 44 2025 Sustainability Performance Highlights 5 Sustainability Governance 45 Operational Performance 5 Sustainability Performance Monitoring and Evaluation 46 Environmental Performance 6 Mineral Conservation and Resource Efficiency 47 Social Performance 8 Responsible Supply Chain 48 Governance Performance 10 Responsibility for Product and Service Quality 50 Governance 51 Theme Description 11 Upholding Good Corporate Governance 52 Governance Bodies 53 Messages from Leadership 12 Governance Body Performance and Remuneration 56 CEO Message 12 Processes Message from the Board of Commissioners 16 Business Ethics and Compliance 62 Signatures of the Board of Directors and Board of 17 Whistleblowing Programmes 68 Commissioners Data Privacy and Cybersecurity 70 About PTVI 19 Company Profile and Main Business Activities 20 Environment 72 Our Purpose and Core Values 21 PTVI's Approach to the Environment 73 Legal Form and Ownership 22 Climate Adaptation and Resilience 75 Company Identity 23 Energy and Emissions Management 77 Operational Areas 24 Water and Effluents 84 Financial Performance 25 Waste Management 90 Certifications and Association Memberships 28 Biodiversity 95 Awards and Recognition 30 Reclamation and Rehabilitation Mine Closure Planning Our People PTVI's Approach to Human Resources Employee Statistics Recognition of Labour and Human Rights Commitment to Diversity, Equality, and Inclusion Employee Remuneration and Benefits Employee Training and Development Employee Health and Safety Employee Concern Reporting and Resolution Mechanism Communities Our Approach to Responsible Community Engagement Respect for Human Rights Relocation and Rights to Land and Resources Community Engagement Community Grievance Mechanism Management of Impacts on Communities Community Empowerment Programmes 100 102 105 106 107 110 112 118 119 123 131 132 133 134 136 136 137 138 142 3 Sustainability Report 2025 About This Report Material Topic Disclosure Our Contribution To Sustainable Development Goals Data Table About PTVI Sustainability Management Governance Environment Human Resources Appendix Independent Assurance Statement POJK Index GRI Index SASB Index Feedback Form 151 154 155 160 160 162 162 163 179 184 184 186 188 202 205 4 Sustainability Report 2025 Operational Performance [POJK51-B.1] Total Nickel Production and Sales in Matte (Tons) Production reached 72,027 tons 1.00% compared to 2024 Sales reached 73,093 tons 0.64% compared to 2024 70.728 70.108 71.311 72.625 72.027 73.093 2023 2024 2025 Production Sales Revenue and Earnings (Thousand US$) Operating revenue Profit for the Year reached reached 990,195 Thousand US$ 76,063 Thousand US$ 4.19% compared to 2024 31.69% compared to 2024 1,232,263 950,388 990,195 274.224 57.761 76.063 2023 2024 2025 Operating Revenue Profit for the Year Nickel Production Cost in Matte (US$ per Ton) Nickel matte production cost reached US$9,560 per tons 0.85% compared to 2024 10,089 9,560 9,479 2023 2024 2025 Despite continued volatility in nickel prices, PTVI maintained stable operational performance. Through efficiency improvements and disciplined operations, we were able to strengthen profitability while sustaining production and sales performance. [POJK51-E.5] 5 Sustainability Report 2025 Environmental Performance [POJK51-B.2] Environmental Management Expenditure US$43.79M allocated for environmental management activities 54.34% compared to 2024 IGP Morowali Energy Usage 2025 (GJ) 13,498 IGP Pomalaa Energy Usage 2025 (GJ) Renewable Energy Proportion (%) 31.06% Renewable Energy Proportion (%) Air Pollution Sorowako Total SO 2 Emissions (Ton SO 2 ) 49,297 5.51% compared to 2024 SO Emission Intensity (Ton SO /Ton Ni) 2024: 52,172 2023: 53,188 Energy and Emission Sorowako Energy Usage (GJ) 31,589,023 2024: 31,785,370 8,422 GHG Emissions Sorowako 28.82% 2 2 0.68 6.85% compared to 2024 2024: 0.73 2023: 0.75 2023: 30,974,878 Total Particulate Emissions (Tons of Particulates) 0.62% compared to 2024 Energy Intensity (GJ/Ton Matte) 438.57 2024: 445.73 Total GHG Emission (Ton CO 2 eq) 2,074,623 1,15% compared to 2024 2024: 2,050,990 2023: 2,032,313 647 26.39% compared to 2024 2024: 879 2023: 600 Particulate Emission Intensity (Ton Particulate/Ton Ni) 1.61% compared to 2024 Renewable Energy Proportion (%) 30.87% 0.91% compared to 2024 2023: 473.94 2024: 30.60% 2023: 30.84% GHG Intensity (Ton CO 2 eq/Ton Matte) 28.80 0,14% compared to 2024 IGP Morowali Total GHG Emission 2025 (GJ) 2024: 28.76 2023: 28.73 4,553.14 0.009 25.00% compared to 2024 2024: 0.012 2023: 0.007 IGP Pomalaa Total GHG Emission 2025 (GJ) 419 6 Sustainability Report 2025 Water Management Water Withdrawal (m³) Sorowako 31,589,023 2024: 11,748,150 2023: 9,442,313 Waste Generated (Ton) Hazardous Sorowako 2,353 12.74% compared to 2024 2024: 2,696 2023: 2,041 IGP Morowali 85.24 2023: 0.93 2024: 7.22 IGP Morowali 17,873 IGP Pomalaa 0.90% compared to 2024 IGP Morowali 58.42 2023: 4.06 2024: 5.71 9,969 11.93% compared to 2024 Water Withdrawal Intensity (m³/Ton Matte) Sorowako 209.35 Water Discharge Sorowako 89,695,408 10.94% compared to 2024 2023: 113.50 2024: 164.75 Non-hazardous Sorowako 5,349 9.43% compared to 2024 2024: 5,906 2023: 6,378 2024: 100,709,771 2023: 50,226,716 IGP Morowali IGP Morowali 76 ton in 2025 IGP Pomalaa 375 ton in 2025 13,251 m 3 in 2025 The increase in waste generated at IGP Morowali and Pomalaa was primarily attributable to the commencement of more intensive production activities in 2025. The significant increase in water withdrawal was primarily attributable to improvements in monitoring points and flowmeter measurements in 2025. Biodiversity Conservation Sorowako 72,296 local, endemic, and protected trees conserved and cultivated 6% trees compared to 2024 18 Timor deer (Rusa timorensis) conserved 1 lowland anoa (Bubalus depressicornis) conserved Reclamation and Rehabilitation Progressive Mine Reclamation 156.67 hectares in Sorowako 1.42 hectares in Bahodopi DAS Rehabilitation Outside Concession 18,849 hectares of watershed rehabilitation areas across five provinces: South Sulawesi, Central Sulawesi, Southeast Sulawesi, West Java, and Bali Environmental Performance [POJK51-B.2] Environmental Training 338 employees and 1,966 contractors received environmental training 60 employees and 6 contractors participated in environmental management certification 7 Sustainability Report 2025 Human Resource Workforce Composition Participation in Training 2,985 361 women employees, employees in total workforce 2,493 employees participated in training programs 12.09% of the workforce Total Training Hours 0.51% compared to 2024 70,656 total training hours delivered in 2025 2,486 local employees, 83.28% of the workforce Certification Programs 0.28% compared to 2024 277 employees participated in professional certification programs 89.95% of employees are members of a labour union. Pre-Retirement Preparation 176 employees participated in pre-retirement preparation training programs Women in Leadership 131 women inleadership roles (L1-L3), 17.21% positions of leadership 1.00% compared to 2024 Workforce Turnover 1.04% turnover rate 0.12% compared to 2024 Occupational Health and Safety Zero Work-related Deaths (Zero Fatalities) in 2025 Zero recordable injury for employee Social Performance [POJK51-B.3] Community Empowerment US$43.79M allocated for the Community Development and Empowerment Program (PPM) in 2025 18.35% compared to 2024 2024: US$4,000,198 2023: US$5,571,359 US$3.98 million invested in PPM programs in Sorowako. US$751 thousand invested in PPM programs in IGP Morowali. US$3.98 thousand invested in PPM programs in IGP Pomalaa. 8 Sustainability Report 2025 Social Performance [POJK51-B.3] Beneficiaries & Reach 300+ households received electricity subsidy support in Sorowako. ~21 public facilities supported through electricity subsidy programs. 8 villages benefited from clean water distribution infrastructure in Towuti. 13 villages involved in participatory infrastructure development in Morowali. 13 empowerment villages reached through health and development programs in Morowali. 267 households served through the TPS3R community waste management facility. 95 participants joined English training programs in Morowali. 20 university students participated in research and internship opportunities. 43 farmers received capacity-building and technical assistance in organic rice cultivation across 12 hectares. 37 farmers supported through organic vegetable cultivation across around 5 hectares. 100 cocoa farmers involved in certification preparation in Pomalaa. 133 MSMEs supported through economic self-reliance programs in Sorowako. 38 villages supported through Village SDGs-related empowerment initiatives. Forms of Support Education & Capacity Building 5 villages served through school transportation support in Sorowako. 3 master's and 2 doctoral recipients supported through scholarship programs. 57 participants joined vocational training across two batches. 45 PAUD teachers Forms of Support Economic Empowerment 4,600 cocoa seedlings established through the Cocoa Nursery House in Pomalaa. 80 farmers supported across approximately 17 hectares of cultivated land. reached through capacity-building programs. 347 university students engaged through thematic Community Service Programs (KKN). 15 laptops donated to support learning facilities in local schools. 1 practical training vehicle provided for SMKN 1 Luwu Timur. 9 Sustainability Report 2025 Social Performance [POJK51-B.3] Forms of Support Environment 18 Waste Bank Units & 11 School Waste Banks supported in Sorowako 10 villages supported through Climate Village Program (ProKlim) facilitation 118 tons of waste managed through TPS3R in Bahodopi 8,000+ kg of compost produced through community-based waste management programs Forms of Support Infrastructure & Basic Services 14 solar-powered streetlights installed in Bahomotefe Village. 225 meters of village fence constructed in Kolono Village. 10 MSME booths developed as part of village tourism facilities in Unsongi 10 Sustainability Report 2025 Governance Performance [POJK51-B.1] Sustainability Performance Assessment Sustainalytics 23.7 Sustainalytics ESG Risk Score-Medium Risk Category 19.39% lower risk from previous year ASEAN Corporate Governance Scorecard (ACGS) 99.53 0.86% compared to 2023 performance Board Diversity 50% Board of Commissioners members are female Responsible Supply Chain 85% of our total suppliers are domestic suppliers 11 Sustainability Report 2025 Theme Description Integrity in Actions: Building Trust and Sustainable Value Entering 2025, PTVI encountered a critical stress test of its resilience, driven by operational challenges, including the oil pipeline leakage, alongside ongoing market volatility and evolving regulatory expectations. These dynamics required not only disciplined execution, but also a reassessment of how we operate, prioritize, and manage risks in an increasingly complex environment. The theme "Integrity in Action: Building Trust and Sustainable Value" reflects how PTVI responds to these conditions, not only by maintaining performance but also by reinforcing how integrity is translated into concrete actions across the organization. The challenges encountered during the year served as a wake-up call to address complacency risks and strengthen agility, accountability, and continuous improvement across all levels. During the year, PTVI experienced notable changes in leadership and governance, including the appointment of a new CEO, changes within the Board of Commissioners, and organizational restructuring. These developments contributed to strengthening decision-making processes, enhancing oversight, and improving alignment between strategy, operations, and sustainability commitments. At the same time, PTVI placed greater emphasis on transparent communication and active stakeholder engagement, particularly in responding to operational challenges, including the oil pipeline leakage. During the year, we intensified engagement with affected communities, regulators, and other stakeholders to ensure timely information sharing, address concerns, and support response and recovery efforts. These actions reflect our commitment to building trust through openness, accountability, and consistent engagement. As we move forward, the lessons learned and improvements made throughout the year strengthen our foundation for building a more resilient organization. Integrity continues to guide how we respond, strengthen governance, and engage openly with stakeholders. Through a year of challenges, we reinforced that integrity in action remains essential to building trust and sustaining long-term value. 12 Sustainability Report 2025 CEO Message [POJK51-D.1][GRI 2-22] Dear Esteemed Stakeholders, The acceleration of the global energy transition continues to reshape the economic and industrial landscape. Indonesia plays a central role in this shift, as the world's largest nickel reserve holder and a major producer. Through its down streaming policy, the country is strengthening domestic value creation and supporting the low-carbon transition. At the same time, rapid expansion has contributed to oversupply and price pressure, reminding us that growth must be balanced with responsibility. Within this context, PTVI continues to navigate industry headwinds while strengthening operational resilience. In conditions that are not always ideal, we remain committed to ensuring that our decisions are aligned with sustainability principles and our responsibilities to society and the environment. This year, we were confronted with a significant challenge when an oil pipeline leak occurred on 23 August 2025 in Lioka Village, Towuti District, East Luwu Regency, South Sulawesi, releasing fuel oil into surounding waterways and farmland. This was a serious incident, and I want to speak to it directly and honestly. I am sorry to the farmers who saw their rice fields flooded with oil. I am sorry to the families in Lioka, Langkea Raya, Baruga, Matompi, Wawondula, and Timampu who faced days of uncertainty about their water, their land, and their livelihoods. And I am sorry that, despite the best standards we strive to uphold, we were not able to prevent this from happening in the first place. I travelled to Towuti in the days immediately following the incident. Seeing the affected areas directly, and speaking with residents face to face, only reinforced what I already knew: behind every statistic is a family's livelihood, a farmer's harvest, a community's trust. From the outset, we committed to three things: to stop the spread as quickly as possible, to be fully transparent about what happened and what we were doing, and to stay - for as long as it takes - until Towuti is genuinely restored. Our teams worked around the clock to isolate the leak source and contain the flow. We established a Complaint and Information Centre so that affected residents could reach us directly. We engaged independent scientific experts from IPB, UNHAS, Sucofindo, and the University of Indonesia's Disaster Risk Reduction Centre to ensure our environmental assessments were credible and our recovery actions evidence-based. We are finalising a full evaluation and strengthening of our pipeline systems so that a similar incident does not happen again. The process of environmental rehabilitation and community compensation has advanced significantly and is ongoing, with regular updates posted on our website. We will not consider this chapter closed until the community does. This experience reinforced the importance of responding with urgency, transparency, and genuine care for the people and environment affected. It also strengthened our resolve to continuously improve how we operate, manage risks, and build long-term resilience as a company. I am grateful for the spirit of solidarity that emerged from this difficult time. Local residents, government officials, and community volunteers Bernardus Irmanto CEO and President Director "Sustainability is not a linear path. It is a continuous process of improvement, reflection, and renewal.Ƅ 13 Sustainability Report 2025 joined our teams in the field every single day. That spirit of gotong royong sustained all of us. It is also the standard we must continue to earn. For us, responsibility goes beyond operational performance. It is reflected in how we strengthen our operations, support livelihoods, safeguard ecosystems, and create long-term value for Indonesia. Through this Sustainability Report, we share both our achievements and the lessons we have learned as part of our commitment to continuous improvement and accountability. Operational Performance and Strategic Projects Throughout 2025, PTVI maintained solid operational performance amid a challenging market environment. At Sorowako, nickel matte production reached 72,027 metric tonnes, an increase of 1.00% compared to the previous year, while sales volume rose by 0.64% to 73,093 metric tonnes. Despite higher volumes, operating revenue from Sorowako declined by 6.5% to US$888.6 million, reflecting softer nickel prices during the year. Nevertheless, we continued to strengthen cost discipline and operational efficiency, with nickel matte production costs increasing only marginally by 0.85%, from US$9,479 per metric tonne in 2024 to US$9,560 per metric tonne in 2025. Beyond Sorowako, we began to see initial revenue contributions from our growth projects. Indonesia Growth Project (IGP) Morowali generated operating revenue of US$91,517 thousand, while IGP Pomalaa contributed US$10,095 thousand in 2025. These contributions helped lift total operating revenue by 4.19% to US$990,195 thousand, despite the decline in Sorowako revenue, marking an important milestone in diversifying our revenue base. Overall, we recorded total operating revenue of US$990,195 thousand, representing an increase of 4.19% compared to the previous year. This performance was accompanied by a significant improvement in profitability, with profit for the year increasing by 31.68% to US$76,063 thousand, supported by stronger efficiency and disciplined cost management across our operations. These results reflect more than financial outcomes alone. They demonstrate the collective discipline of our teams in maintaining operational reliability, efficiency, and continuity despite continued price pressure in the nickel market. Amid fluctuating conditions, we remained focused on preserving resilience while laying the groundwork for long-term growth. At the same time, our strategic projects continued to advance, reinforcing our long-term growth pathway. Together, these projects strengthen the link between our upstream and downstream operations. In Sorowako, the Limonite Ore Project is expected to start in mid-2027. Meanwhile, the Pomalaa HPAL Project is also expected to commission in early 2027, with major infrastructure already in place and construction advancing steadily. As one of our most advanced downstream developments, this project represents a key step in strengthening our processing capacity and supporting Indonesia's nickel downstreaming agenda. The Sambalagi HPAL Project in Bahodopi is also showing encouraging progress, with construction continuing to advance and strong confidence that the project will be delivered on time, on cost, and with the required quality. In Morowali, we reached an important milestone as mining activities progressed significantly toward operational readiness, while initial saprolite deliveries have commenced. In parallel, construction of the HPAL facility continues to progress toward its targeted completion in 2027. Together, these projects expand our production capacity while strengthening our downstream integration, in line with our commitment to a more sustainable, lower-carbon future. Strengthening Governance and ESG Performance PTVI continued to strengthen governance and ESG performance as a foundation for long-term value creation. We recorded an improved Sustainalytics ESG Risk Rating of 23.7, representing a 19.4% risk score reduction from the previous year, while our ASEAN Corporate Governance Scorecard (ACGS) performance increased 0.86%, reaching 99.53 in 2025 compared to 2023 performance. This improvement reflects stronger alignment with regional best practices in transparency, accountability, and shareholder rights, reinforcing stakeholder confidence in our governance framework. We see this progress not merely as improved scores, but as a reflection of stronger discipline in how we govern our business and integrate sustainability into decision-making. We also strengthened governance through clearer policies, stronger oversight, and closer integration of ESG into business decisions. To ensure that these commitments are translated into measurable practices on the ground, our Sustainability Roadmap is being recalibrated to ensure that targets remain measurable, realistic, and aligned with our long-term direction as we navigate both internal transformation and growth, as well as evolving global standards. Sustainability is not managed as a separate agenda. It is increasingly embedded within risk management, capital allocation, and performance evaluation processes across the organization. 14 Sustainability Report 2025 Environmental Performance During the reporting year, we continued to improve our environmental performance while maintaining operational continuity in a challenging operating environment. In Sorowako, renewable energy consumption increased slightly from 9.73 million GJ in 2024 to 9.75 million GJ in 2025, contributing approximately 30.9% of total energy consumption. This progress was supported by the continued transition toward biodiesel with a 40% biological oil blend (B40). In our growth projects, renewable energy contributed approximately 31.1% of total energy consumption in IGP Morowali and 28.8% in IGP Pomalaa, primarily through the use of biodiesel B35 and B40 in mining activities. For our Sorowako operation, we are targeting a 33% reduction in absolute Scope 1 and Scope 2 emissions by 2030, compared to our 2017 baseline. In 2025, total emissions at Sorowako were recorded at 2,074,623 tonnes of CO, equivalent (CO,e), keeping us on track toward our 2030 target. Emissions levels are expected to remain relatively stable in the near term, as several key decarbonization initiatives are scheduled for implementation starting from 2027 onwards. These initiatives include heat recovery systems, ore dewatering improvements, and increased electrification of operations. Together, those initiatives are expected to reduce GHG emissions and support our transition to lower-carbon operations. In Sorowako operation, we also recorded a 5.5% reduction in SO, emissions and a 26.4% decrease in particulate emissions, indicating better control over air quality impacts from our operations. In land management, we carried out post-mining reclamation covering 156.67 hectares in Sorowako and 1.42 hectares in IGP Morowali, while rehabilitating watershed outside of the concession area with the total area of 17,877 hectares. In addition, all water treatment and monitoring points remained fully compliant with applicable regulatory standards. We also continue our resource efficiency program through the reuse of operational by-products. In 2025, more than 5 million tons of slag and nearly 1 million tons of other by-product were reused for internal construction purposes, helping to reduce landfilling and release of pollutant to the environment. We recognise that environmental performance may fluctuate in line with operational dynamics. However, our direction remains clear: to reduce emissions, improve efficiency, and move forward in a disciplined and measurable way toward responsible mining operation. People, Safety, and Community Impacts Our employees and contractors are the foundation of our success. We ensure that every individual is treated fairly, safely, and with dignity, in line with the human rights principles we uphold. As of the end of 2025, PTVI employed 2,985 people, with 83.3% being local employees from East Luwu, Morowali, and Kolaka. Women represented 12.09% of the workforce across all of our sites. In addition, from the total managerial position of 761, female occupies 17.21% of the population. Safety is a non-negotiable priority. In 2025, we recorded zero work-related fatalities, reflecting our continued commitment to protecting the health and safety of everyone working at our sites. Throughout the year, a total of 17,947 employees and contractors received medical check-ups as part of our ongoing efforts to promote health, early detection, and overall well-being, surpassing our plan. These programs are complemented by regular safety training, risk assessments, and awareness initiatives to ensure that all workers are equipped to perform their jobs safely. We also continue to strengthen workforce readiness through capability development, delivering more than 70,000 training hours throughout the year. These efforts support both individual growth and organizational readiness in a changing environment. Beyond our operations, our community development and empowerment investment reached US$4.73 million in 2025, an increase of approximately 18.35% compared to the previous year. These programs focus on education, local economic development, infrastructure, and access to essential services across our operational areas. Through these efforts, we continue to build relationships grounded in trust, openness, and long-term responsibility. 15 Sustainability Report 2025 Appreciation and Looking Ahead I extend my sincere appreciation to our employees, business partners, government stakeholders, shareholders, and communities for their continued trust and collaboration. The resilience we demonstrated this year was the result of collective effort, shared responsibility, and a common commitment to long-term value creation. As we look ahead, we recognize that the operating environment will continue to evolve, shaped by market uncertainty and the accelerating energy transition. In navigating this landscape, or focus will remain on disciplined execution, responsible growth, and measurable progress in sustainability and ESG performance. Integrity will continue to guide how we lead, allocate capital, manage risk, and create lasting value for our stakeholders. The lessons we learned this year, particularly from the challenges we faced, will continue to shape how we move forward. We believe sustainability is not a commitment expressed once a year, but a responsibility we renew through our actions every day. Thank you for walking this journey with us. Jakarta, April 2026 Bernardus Irmanto President Director PT Vale Indonesia Tbk 16 Sustainability Report 2025 Message from the Board of Commissioners F. S. Multhazar President Commissioner 2025 was a defining year for PTVI, testing not only our operational resilience but also the strength of our governance framework and the discipline behind our strategic decision-making. We operated amid continued market volatility, evolving regulatory developments, and rising expectations regarding environmental and social responsibility. In this context, governance is not merely a formal structure-it is the foundation that ensures discipline in decision-making, strengthens accountability, and safeguards long-term value. Throughout the year, PTVI underwent significant structural and strategic developments. Organizational changes, the advancement of strategic projects, and the strengthening of sustainability oversight required greater clarity in roles and stronger accountability. During periods of change, careful supervision becomes increasingly critical. The role of the Board of Commissioners is to ensure that all decisions remain aligned with PTVI's values, risk appetite, and long-term direction. The year also marked an important phase of leadership renewal, with the appointment of a new President Commissioner and a new President Director and Chief Executive Officer, alongside other changes in the composition of both the Board of Commissioners and the Board of Directors. The Board of Commissioners brings together a diverse range of backgrounds, experience, and perspectives that strengthen the Company's approach to governance and sustainability. Its composition reflects a multi-stakeholder ownership structure, while ensuring that global best practices are considered alongside a deep understanding of Indonesia's regulatory and stakeholder landscape. The 2025 composition of the Board of Commissioners also reflects greater diversity of perspectives, with women representing 50% of its members. Inclusive leadership at the highest level signals the Company's values and direction, and we remain committed to strengthening diversity within PTVI's governance structures. On sustainability and ESG matters, the Board of Commissioners is well-positioned to provide effective oversight, with expertise spanning ESG strategy, stakeholder engagement, human rights, and the implementation of international standards alongside Indonesia's national agenda on energy transition and sustainable investment. Overall, the Board of Commissioners provides a strong foundation for overseeing the Company's ESG commitments, ensuring that sustainability remains a core part of PTVI's long-term strategy. Jakarta, April 2026 F. S. Multhazar President Commissioner PT. Vale Indonesia Tbk 17 5 Sustainability Report 2025 Signatures of Directors and Commissioners We, the undersigned, declare that all information in the 2025 Sustainability Report of PT Vale Indonesia Tbk has been presented in full, and we are fully responsible for the accuracy of the contents of the report in accordance with POJK 51/POJK.03/2017. This statement is made truthfully. Board of Directors* Bernardus Irmanto President Director Abu Ashar Vice President Director Heriyanto Agung Putra Director Budiawansyah Director Rizky Andhika Putra Director Slamet Sugiharto Director Muhammad Asril Director 1 6 8 Sustainability Report 2025 Board of Commissioners* F. S. Multhazar President Commissioner Christopher McCleave Commissioner Shiro Imai Commissioner Marita Alisjahbana Independent Commissioner Emily Olson** Vice President Commissioner M Jasman Panjaitan Commissioner Rudiantara Notes: ×The composition of the Company's Board of Directors and Board of Commissioners is based on the resolution of the Company's Extraordinary General Meeting of Shareholders held in September 2025. ×× The BOC member who served during the 2025 financial year but has effectively resign as of April 2026 with the resignation subject to approval at the upcoming Annual General Meeting of Shareholders to be held on June 2, 2026. Independent Commissioner Kristina Gauthier Commissioner Katherine Angela Oendoen Commissioner Retno L.P. Marsudi Independent Commissioner 1 7 9 Sustainability Report 2025 About PTVI Sustainability Report 2025 20 Sustainability Report 2025

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