Perusahaan Perseroan Persero PT Telekomunikasi Indonesia Tbk : Financial Statements (Audited) FY 2023

Perusahaan Perseroan (Persero)

PT Telekomunikasi Indonesia Tbk. and its subsidiaries

Consolidated financial statements as of December 31, 2023 and for the year ended with independent auditor's report

PERUSAHAAN PERSEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2023 AND FOR THE YEAR THEN ENDED

WITH INDEPENDENT AUDITOR'S REPORT

TABLE OF CONTENTS

Report No . 00268/2 . 1032/AU . 1/06/0687-2/1/ III /2024

The Shareholders and the Boards of Comm issioners and Directors Perusahaan Perseroan (Persero) PT Te l ekomunikasi Indonesi a Tbk

Opinion

We have audi ted the accompanying consolidated financi a l statements of Perusahaan Perseroan (Persero) PT Tel ekomunikasi Indonesi a Tbk. (the " Company ") and i ts subsidi ari es (coll ective ly referred to as the " Group "), which comprise the consolidated statement of financi a l posi t ion as of December 31 , 2023 , and the consolidated statement of profi t or loss and other comprehensi ve income , consolidated statement of changes in equi ty , and consolidated statement of cash flows for the year then ended , and notes to the consolidated financi al statements, incl udi ng materi al account i ng policy information.

In our opini on , the accompanying consolidated financi al statements present fa irl y , in all materi al respects, the consolidated financi a l posi tion as of December 31 , 2023 , and i ts consolidated financi a l performance and cash flows for the year then ended , in accordance wi th Indonesi an F inanci a l Account ing Standards.

Basis for opinion

We conducted our audi t in accordance w i th Standards on Audi ting established by the Indonesi an Insti tute of Cert ifi ed Public Accountants ("IICPA "). Our responsib ili ti es under those standards are further described in the Audi tor's Responsibili t i es for the Audi t of the Consolidated Financi al Statements paragraph of our report . We are independent of the Group in accordance wi th the ethica l requirements re l evant to our audi t of the consolidated financi al statements in Indonesi a, and we have fulfill ed our other ethi ca l responsibili t i es i n accordance wi th such requirements. We be li eve that the audi t evidence we have obta ined is suffici ent and appropri ate to provide a basis for our opinion.

Key audi t matters

Key audi t matters are those matters that , in our professiona l judgment , were of most significance in our audi t of the consolidated financi a l statements of the current period. Such key audi t matters were addressed in the context of our audi t of the consolidated financi a l statements taken as a whol e , and in formi ng our opini on thereon , and we do not provide a separate opini on on such key audi t matters. For the key audi t matter be low , our descript ion of how our audi t addressed such key audi t matter is provided i n such context.

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Report No . 00268/2 . 1032/AU . 1/06/0687-2/1/ III /2024 (cont inued)

Key audi t matters (cont inued)

We have fulfill ed the responsi bili t i es described in the Audi tor's Responsibili t i es for the Audi t of the Consolidated Financi a l Statements paragraph of our report , incl udi ng in re l ation to the key audi t matter communicated be low . Accordingl y , our audi t included the performance of procedures designed to respond to our assessment of the risks of materi a l misstatement of the accompanying consolidated financi a l statements. The resul ts of our audi t procedures, including the procedures performed to address the key audi t matter be l ow , provide the basis for our opi nion on the accompanying consolidated financia l statements.

Eva luation of te l ecommunication i nfrastructure est i mated useful li ves Descript ion of the key audi t matter:

As of December 31 , 2023 , the ba l ance of consolidated tel ecommunicat i on infrastructures amounted to Rp158 , 516 billion which represents 55% of tota l consolidated assets. As discussed in Notes 2y and 11 to the accompanying consolidated financi a l statements, the Group revi ews the est i mated useful li ves of i ts property and equipment , incl uding te l ecommunication infrastructures, at l east annua lly and such est imates are updated if expectations di ffer from previous est i mates due to changes in expectat ion of physica l wear and tear , technical, or commerci a l obsol escence , and l ega l or other limi tat ions on the continui ng use of the property and equipment.

Audi t i ng the Group's est imated useful li ves of te lecommunicat ion infrastructures is compl ex and requires significant judgment because the determinat ion of the estimated useful lives consi ders a number of factors, including strategic business pl ans, expected future technological deve lopments, and market behavior.

Audi t response:

We obta i ned an understandi ng, and eva l uated the design and tested the operat ing effect iveness, of interna l controls over the Group's process of est imating the useful li ves of i ts te l ecommunicat ion infrastructures. This includes, among others, test ing of management 's revi ew control on checking the compl eteness and accuracy of the assets cl assificat ion data and assessi ng the appropri ateness of the judgments regarding the most re l evant data to be considered in determining i ts useful li ves. We a lso tested management 's control on benchmarking ana lysis, incl udi ng the se l ect ion cri teri a , on the estimated useful li ves of te l ecommunicat ion infrastructures.

To test whether the est imated useful li ves of te l ecommunicat ion infrastructures used by management was reasonabl e , our audi t procedures included, among others , obta i ning an understanding of management 's strategy re l ated to asset repl acements and assessed the reasonabl eness of assumpt ions by considering externa l sources, such as te l ecommunication technology growth , changes in market demand, and current economic and regul atory trends. We assessed whether the benchmarking analysis on the estimated useful lives of tel ecommunicat ion infrastructures used by management was compl ete and consistent wi th the se l ect ion cri teria through comparison wi th sampl e portfoli o of public compani es wi thin the tel ecommunicat ion industry.

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Report No . 00268/2 . 1032/AU . 1/06/0687-2/1/ III /2024 (cont inued)

Other informat ion

Management is responsibl e for the other informat i on . Other informat ion comprises the informat ion incl uded in the 2023 Annua l Report (" The Annual Report ") other than the accompanying consolidated financi a l statements and our independent audi tor's report thereon. The Annua l Report is expected to be made ava il abl e to us after the date of this independent audi tor's report.

Our opi nion on the accompanying consolidated financi a l statements does not cover the Annual Report , and accordingly , we do not express any form of assurance on the Annua l Report.

In connect ion wi th our audi t of the accompanying consolidated financi a l statements, our responsibili ty is to read the Annua l Report when i t becomes ava il abl e and, in doing so , consider whether the Annual Report is materi a lly inconsistent wi th the accompanying consolidated financi a l statements or our knowl edge obta ined in the audi t , or otherwise appears to be materi a lly misstated.

When we read the Annual Report , if we conclude that there is a materi al misstatement there in, we are required to communicate the matter to those charged wi th governance and take appropri ate act i ons based on the applicabl e l aws and regul ations.

Responsibili t i es of management and those charged wi th governance for the consolidated financi a l statements

Management is responsibl e for the preparat ion and fa ir presentat ion of the consolidated financi al statements in accordance wi th Indonesi an F inanci a l Accounting Standards, and for such internal control as management determines is necessary to enabl e the preparat ion of consolidated financi a l statements that are free from materi al misstatement , whether due to fraud or error.

In prepari ng the consolidated financi al statements, management is responsibl e for assessing the Group's abili ty to cont inue as a going concern , disclosing, as applicabl e , matters re l ated to going concern , and usi ng the going concern basis of account ing, unl ess management e i ther intends to li quidate the Group or to cease i ts operat ions, or has no realist ic a l ternat ive but to do so.

Those charged wi th governance are responsibl e for overseeing the Group's financi a l reporting process.

Audi tor 's responsibili t i es for the audi t of the consolidated f inanci a l statements

Our obj ect ives are to obta i n reasonabl e assurance about whether the consolidated financi al statements taken as a whol e are free from materia l misstatement , whether due to fraud or error, and to issue an independent audi tor's report that incl udes our opini on . Reasonabl e assurance is a high l eve l of assurance , but is not a guarantee that an audi t conducted in accordance wi th Standards on Audi t ing established by the IICPA will always detect a materi al misstatement when i t exists. Misstatements can arise from fraud or error and are considered materi a l i f , i ndividua lly or in the aggregate , they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financi al statements.

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Report No . 00268/2 . 1032/AU . 1/06/0687-2/1/ III /2024 (cont inued)

Audi tor 's responsibili t i es for the audi t of the consolidated f inanci a l statements (cont inued)

As part of an audi t in accordance wi th Standards on Audi t ing established by the IICPA , we exercise professiona l judgment and ma inta in professiona l skepticism throughout the audi t . We a lso:

• x Identify and assess the risks of materi al misstatement of the consolidated financi al statements, whether due to fraud or error , design and perform audi t procedures responsive to such risks, and obta in audi t evidence that is suffici ent and appropri ate to provide a basis for our opi nion . The risk of not detecting a materi al misstatement resul ting from fraud is higher than for one resul ting from error , as fraud may invol ve coll usi on , forgery , intent ional omissi ons, misrepresentat ions, or override of interna l control.

• x Obtai n an understanding of internal control relevant to the audit in order to design audit procedures that are appropri ate in the circumstances, but not for the purpose of expressi ng an opi nion on the effectiveness of the Group's interna l control.

• x Eva luate the appropri ateness of accounting policies used and the reasonabl eness of account i ng est imates and re lated disclosures made by management.

• x Conclude on the appropri ateness of management's use of the goi ng concern basis of account i ng and, based on the audi t evidence obta ined , whether a materi a l uncerta i nty exists re l ated to events or condi tions that may cast si gnificant doubt on the Group's abili ty to cont inue as a going concern . If we conclude that a materi al uncerta i nty exists, we are required to draw attent ion in our independent audi tor's report to the re l ated disclosures in the consolidated financi a l statements or , if such disclosures are inadequate , to modi fy our opini on. Our conclusion is based on the audi t evidence obta i ned up to the date of our independent audi tor's report . However , future events or condi t i ons may cause the Group to cease to cont inue as a goi ng concern.

• x Eva luate the overa ll presentat ion, structure , and content of the consolidated financi al statements, including the disclosures, and whether the consolidated financi al statements represent the underl y ing transactions and events in a manner that achi eves fair presentation.

• x Obta in suffici ent appropri ate audi t evidence regarding the financi a l informat ion of the enti t i es or business activi ti es wi thin the Group to express an opini on on the consolidated financi al statements. We are responsi bl e for the di rect i on, supervision , and performance of the group audi t . We remain sol e ly responsi bl e for our audi t opi nion.

We communicate wi th those charged wi th governance regarding, among other matters, the pl anned scope and t iming of the audi t and significant audi t findings, including any significant defici enci es in interna l control that we identify during our audi t.

We a lso provide those charged wi th governance wi th a statement that we have compli ed wi th re l evant ethical requirements regardi ng independence , and to communicate wi th them all re l ationships and other matters that may reasonabl y be thought to bear on our independence, and where applicabl e , re l ated safeguards.

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PERUSAHAAN PERSEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of December 31, 2023

(Amounts in the tables expressed in billions of Rupiah, unless otherwise stated)

2022

PERUSAHAAN PERSEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the Year Ended December 31, 2023

(Amounts in the tables expressed in billions of Rupiah, unless otherwise stated)

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PT Telekomunikasi Indonesia (Persero) Tbk published this content on 22 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 04:08:02 UTC.