NOTES TO FINANCIAL STATEMENTS 31 December 2025 42 DISPOSAL OF SUBSIDIARIES PT Sumber Bara Jaya (“SBJ”) and PT Bumi Enggang Khatulistiwa (“BEK”) On 14 July 2025, the Group had disposed of its entire shareholding in SBJ (which holds 99.98% of BEK). The Company previously held a 98.90% effective interest in SBJ immediately before the disposal date. The net assets of SBJ and BEK at the date of disposal were as follows: 2025 US$ Current assets Cash and bank balances 492,745 Inventories 561,768 Non-current assets Restricted cash deposits 1,558,075 Property, plant and equipment 18,032,041 Non-current liabilities Provisions (1,196,958) Deferred tax liabilities (1,166,246) Net assets disposed off 18,281,425 Consideration 2025 US$ Consideration receivable [Note 8(f)] 18,000,000 Total 18,000,000 Loss on disposal 2025 US$ Consideration receivable 18,000,000 Less: Net assets derecognised (18,281,425) Loss on disposal (Note 33) (281,425) As at 31 December 2025, the consideration receivable of US$18 million was included in other receivables from third parties [Note 8(f)]. On 8 January 2026, the receivable has been assigned to the sellers of TMP and BSM, as part of the terms of the conditional share purchase agreements (Note 43). During the year, the loss on disposal was included in other expenses (Note 33). Net cash outflow arising on disposal 2025 US$ Cash consideration received - Less: Cash and bank balances disposed (492,745) Disposal of subsidiary in the consolidated statement of cash flows (492,745) PT STT Tunas Bara (“STT TB”) and PT Surya Tambang Tolindo (“STT”) On 17 September 2025, the Group had disposed of its entire shareholding in STT TB (which holds 99.96% of STT). The Company previously held a 99.10% effective interest in STT TB immediately before the disposal date. The net assets of STT TB and STT at the date of disposal were as follows: 2025 US$ Non-current assets Property, plant and equipment 2,076,033 Current liabilities Other payables (252,055) Net assets disposed off 1,823,978 Consideration received 2025 US$ Cash 1,199,040 Total 1,199,040 114
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