Regulation of the Commodity Futures Trading Supervisory Agency Number 9 of 2023 Concerning Financial Reporting Obligations for Digital Physical Gold Traders and Accounting Recording Guidelines for Digital Physical Gold Market Trading

REGULATION OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY REPUBLIC OF INDONESIA NUMBER 9 OF 2023 CONCERNING FINANCIAL REPORTING OBLIGATIONS FOR DIGITAL PHYSICAL GOLD TRADERS AND ACCOUNTING RECORDING GUIDELINES FOR DIGITAL PHYSICAL GOLD MARKET TRADING BY THE GRACE OF GOD THE ALMIGHTY HEAD OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY REPUBLIC OF INDONESIA,

Considering: a. that the digital physical gold market trading has developed quite diversely, thus requiring increased protection for the public who are customers in digital physical gold market trading; b. that in order to realize orderly, fair, efficient, effective, and transparent digital physical gold market trading activities and to increase the effectiveness of financial supervision, it is necessary to establish a Regulation of the Commodity Futures Trading Supervisory Agency concerning Financial Reporting Obligations for Digital Physical Gold Traders and Accounting Recording Guidelines for Digital Physical Gold Market Trading;

Recalling:

1. Law Number 32 of 1997 concerning Commodity Futures Trading (State Gazette of the Republic of Indonesia Year 1997 Number 93, Supplement to the State Gazette of the Republic of Indonesia Number 3720) as amended by Law Number 10 of 2011 concerning Amendments to Law Number 32 of 1997 concerning Commodity Futures Trading (State Gazette of the Republic of Indonesia Year 2011 Number 79, Supplement to the State Gazette of the Republic of Indonesia Number 5232);
2. Government Regulation Number 49 of 2014 concerning the Implementation of Commodity Futures Trading (State Gazette of the Republic of Indonesia Year 2014 Number 143, Supplement to the State Gazette of the Republic of Indonesia Number 5548);
3. Presidential Regulation Number 68 of 2019 concerning the Organization of State Ministries (State Gazette of the Republic of Indonesia Year 2019 Number 203) as amended by Presidential Regulation Number 32 of 2021 concerning Amendments to Presidential Regulation Number 68 of 2019 concerning the Organization of State Ministries (State Gazette of the Republic of Indonesia Year 2021 Number 106);
4. Presidential Regulation Number 11 of 2022 concerning the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2022 Number 19);
5. Minister of Trade Regulation Number 119 of 2018 concerning General Policies for the Implementation of Digital Physical Gold Market Trading on Futures Exchanges (State News of the Republic of Indonesia Year 2019 Number 36);
6. Minister of Trade Regulation Number 29 of 2022 concerning the Organization and Work Structure of the Ministry of Trade (State News of the Republic of Indonesia Year 2022 Number 492);
7. Bappebti Regulation Number 2 of 2019 concerning the Implementation of Commodity Physical Markets on Futures Exchanges;
8. Bappebti Regulation Number 4 of 2019 concerning Technical Provisions for the Implementation of Digital Physical Gold Markets on Futures Exchanges;
9. Bappebti Regulation Number 13 of 2019 concerning Amendments to Bappebti Regulation Number 4 of 2019 concerning Technical Provisions for the Implementation of Digital Physical Gold Markets on Futures Exchanges;

DECIDES: Establish: A REGULATION OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY CONCERNING FINANCIAL REPORTING OBLIGATIONS FOR DIGITAL PHYSICAL GOLD TRADERS AND ACCOUNTING RECORDING GUIDELINES FOR DIGITAL PHYSICAL GOLD MARKET TRADING.

Article 1 (1) Digital Physical Gold Traders are obligated to create and submit daily, monthly, and annual financial reports to the Head of Bappebti. (2) The daily financial report referred to in paragraph (1) must be submitted to the Head of Bappebti no later than 14:00 WIB on the next working day. (3) The monthly financial report referred to in paragraph (1) must be submitted to the Head of Bappebti no later than 7 (seven) days after the end of the reporting period. (4) The annual financial report referred to in paragraph (1) must be audited by a Public Accountant who has obtained a license from the Ministry of Finance and is an active member of the Indonesian Institute of Public Accountants, and must be submitted to the Head of Bappebti no later than 90 (ninety) days after the end of the reporting year. (5) In the event that the final date for submitting the financial report referred to in paragraphs (2), (3), and (4) falls on a holiday, the financial report must be submitted on the next working day. (6) The annual financial report referred to in paragraph (4) is issued by the Public Accounting Firm where the Public Accountant works.

Article 2 (1) The daily, monthly, and annual financial reports referred to in Article 1 paragraph (1) must be submitted to the Head of Bappebti electronically. (2) The submission of financial reports as referred to in paragraph (1) is done in softcopy form through the electronic reporting system (e-reporting) provided by Bappebti. (3) If required, the annual financial report must be submitted to the Head of Bappebti in written form (hardcopy).

Article 3 (1) The daily, monthly, and annual financial reports submitted electronically must be acknowledged by the President Director. (2) The President Director is responsible for the content and fairness of the financial reports referred to in paragraph (1).

Article 4 (1) The daily financial report is the report on the mutation of the Customer Transaction Digital Gold Fund Management Account and the report on the mutation of the Customer Transaction Digital Gold Position. (2) The Daily Financial Report is prepared using Form Numbers PFED 06, PFED 07, and PFED 08 as attached in Appendix I of this Agency Regulation.

Article 5 (3) The Monthly Financial Report is prepared using Form Numbers PFED 01, PFED 02, PFED 03, PFED 04, and PFED 05 as attached in the Appendix of this Agency Regulation. (4) The Annual Financial Report is prepared with at least Form Numbers PFED 01, PFED 02, PFED 03, PFED 04, PFED 05, and PFED 06 as attached in the Appendix of this Agency Regulation and is completed with form entries in the electronic system.

Article 6 Digital Physical Gold Traders are obligated to prepare financial reports using Accounting Standards and Accounting Guidelines as attached in the Appendix of this Agency Regulation.

Article 7 Digital Physical Gold Traders who violate the provisions in this Agency Regulation are subject to sanctions in accordance with applicable laws and regulations.

Article 8 Digital Physical Gold Traders are obligated to adjust to the provisions in this Agency Regulation within a maximum period of 3 (three) months from the date this Agency Regulation is established.

This Agency Regulation is established. Signed in accordance with the original. COMMODITY FUTURES TRADING SUPERVISORY AGENCY Head of the Legal and Regulatory Affairs Bureau -6-

Article 9 This Agency Regulation takes effect on the date of establishment. Established in Jakarta On the date 01 December 2023 ACTING HEAD OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY REPUBLIC OF INDONESIA, Signed. KASAN

APPENDIX REGULATION OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY NUMBER YEAR 2023 CONCERNING FINANCIAL REPORTING OBLIGATIONS FOR DIGITAL PHYSICAL GOLD TRADERS AND ACCOUNTING RECORDING GUIDELINES FOR DIGITAL PHYSICAL GOLD MARKET TRADING

Form Number PFED 01: Balance Sheet Form Number PFED 02: Statement of Profit or Loss and Other Comprehensive Income Form Number PFED 03: Statement of Changes in Equity Form Number PFED 04: Statement of Cash Flows Form Number PFED 05: Notes to the Financial Statements Form Number PFED 06: Report on Digital Gold Customer Accounts and Positions Form Number PFED 07: Notes on Customer Transaction Digital Gold Fund Mutations in Separate Accounts Form Number PFED 08: Notes on Digital Gold Customer Gold Mutations

2 ACCOUNTING RECORDING GUIDELINES FOR DIGITAL PHYSICAL GOLD MARKET TRADING Form Number PFED 01: Balance Sheet PT ABC Balance Sheet As of.... (Presented in Rupiah) 20x2 20x1 20x2 20x1 ASSETS LIABILITIES AND EQUITY CURRENT ASSETS SHORT-TERM LIABILITIES Cash and Cash Equivalents Customer Funds Cash Deposits Cash Equivalent Gold Physical Gold Deposits Bank Payables Member Deposits LBK Payables Clearing Tax Payables Receivables from Customers to LKB Short-term Payables Receivables from LKB Other Transaction Receivables PREPAID TAXES LONG-TERM LIABILITIES Prepaid Expenses Bank Payables Other Current Assets Long-term Payables Total Current Assets Total Long-term Liabilities NON-CURRENT ASSETS EQUITY Fixed Assets Paid-in Capital Accumulated Depreciation of Fixed Assets Additional Paid-in Capital Intangible Assets Retained Earnings Other Non-current Assets Total Equity Total Non-current Assets TOTAL ASSETS TOTAL LIABILITIES AND EQUITY

Text Color Status Filled if there is a value xxxxxx Writing Format Meaning 10000 Positive Value -10000 Negative Value -10000,11 Negative Value with 2 digits after the comma (,) 10000,11 Positive Value with 2 digits after the comma (,)

3 Form Number PFED 02: Statement of Profit or Loss and Other Comprehensive Income PT ABC Statement of Profit or Loss and Other Comprehensive Income For the period.... (Presented in Rupiah) 20xx 20xx BUSINESS REVENUE Gold Sales xxx xxx Profit from digital gold trading xxx xxx Other Income xxx xxx Total Revenue xxx xxx BUSINESS EXPENSES Exchange and Clearing Expenses xxx xxx Digital Gold Impairment/Loss xxx xxx Other Administrative & General Expenses xxx xxx Other Operating Expenses xxx xxx Total Expenses xxx xxx PROFIT (LOSS) Before Tax xxx xxx Current Income Tax xxx xxx Deferred Income Tax PROFIT (LOSS) After Tax xxx xxx OTHER COMPREHENSIVE INCOME/(EXPENSE) Other Income xxx xxx Other Expenses xxx xxx Total Other Comprehensive Income/(Expense) xxx xxx COMPREHENSIVE PROFIT (LOSS) FOR THE YEAR xxx xxx

Text Color Status Filled if there is a value xxxxxx Writing Format Meaning 10000 Positive Value -10000 Negative Value -10000,11 Negative Value with 2 digits after the comma (,) 10000,11 Positive Value with 2 digits after the comma (,)

• 4 - Form Number PFED 03: Statement of Changes in Equity PT ABC STATEMENT OF CHANGES IN EQUITY For the period ending on December 31, 20xx and 20xx Description Paid-in Capital and Additional Paid-in Capital Retained Earnings Financial Asset Valuation Differences Actuarial Gains and Losses Revaluation Surplus Foreign Currency Translation Differences Other Comprehensive Portion from Investee Non-controlling Interests Total Equity Designated Undesignated Balance as of Dec 31, 20xx xxxx xxxx xxxx xxxx xxxx Capital Contributions xxxx - - - - - - - xxxx General Reserve - xxxx (xxxx) - - - - - (xxxx) Specific Reserve - xxxx (xxxx) - - - - - (xxxx) Dividends - - (xxxx) - - - - - (xxxx) Comprehensive Income for the Year - xxxx xxxx xxxx Balance as of Dec 31, 20xx xxxx - xxxx Dividends - - (xxxx) - - - - - (xxxx) General Reserve - xxxx (xxxx) - - - - - (xxxx) Comprehensive Income for the Year - xxxx xxxx xxxx Balance as of Dec 31, 20xx xxxx xxxx xxxx

• 5 - Form Number PFED 04: Statement of Cash Flows PT. ABC STATEMENT OF CASH FLOWS As of.... 20xx (In Rupiah) Description 20xx 20xx CASH FLOWS FROM OPERATING ACTIVITIES Operating Activity Receipts: Transactions xxxxx xxxxx Others Rp0,00 Rp0,00 Total Receipts Rp0,00 Rp0,00 Operating Activity Payments: Employees xxxxx xxxxx Others Rp0,00 Rp0,00 Total Payments Rp0,00 Rp0,00 Net Cash from Operating Activities Rp0,00 Rp0,00 CASH FLOWS FROM INVESTING ACTIVITIES Investing Activity Receipts: Dividend Receipts xxxxx xxxxx Others Rp0,00 Rp0,00 Total Receipts Rp0,00 Rp0,00 Investing Activity Payments: Purchase of Fixed Assets xxxxx xxxxx Others Rp0,00 Rp0,00 Total Payments Rp0,00 Rp0,00 Net Cash from Investing Activities Rp0,00 Rp0,00 CASH FLOWS FROM FINANCING ACTIVITIES Receipts Bank Loans xxxxx xxxxx Others Rp0,00 Rp0,00 Total Receipts Rp0,00 Rp0,00 Payments Dividend Payments xxxxx xxxxx Others Rp0,00 Rp0,00 Total Payments Rp0,00 Rp0,00 Net Cash from Financing Activities Rp0,00 Rp0,00 Net Increase (Decrease) in Cash Rp0,00 Rp0,00 Beginning Cash and Cash Equivalents Balance Rp0,00 xxxxx Ending Cash and Cash Equivalents Balance Rp0,00 Rp0,00

Text Color Status Filled if there is a value xxxxxx Writing Format Meaning 10000 Positive Value -10000 Negative Value -10000,11 Negative Value with 2 digits after the comma (,) 10000,11 Positive Value with 2 digits after the comma (,)

• 6 - Form Number PFED 05: Notes to the Financial Statements To be filled if there are special notes related to the company's financial statements referring to the provisions in CHAPTER III on Accounting for Digital Physical Gold Market Trading, number 4 letter B.

• 7 - Form Number PFED 06: Report on Digital Gold Customer Accounts and Positions PT ABC Digital Gold Transaction Customer Accounts and Positions For the Period Ending on Date..... Customer Fund Position Description Debit Credit Balance Beginning Balance of Funds in Separate Account xxx Total Funds Out xxx Total Funds In xxx Total Fund Mutations xxx Ending Balance of Funds in Separate Account xxx Digital Physical Gold Trader Gold Position In grams Conversion Value Converted Balance Gold Deposit Value xxx Cash Equivalent Gold Deposit Value xxx Total xxx xxx Gold Transactions Gold Out xxx Gold In xxx Total xxx xxx Balance Difference between Customer Funds and Gold xxxx

• 8 - Form Number PFED 07: Notes on Customer Transaction Digital Gold Fund Mutations in Separate Accounts Terms of Condition a. Input daily transactions that occur in the provided columns (Bank Book Journal), according to the number of separate accounts owned by the company

1. The Beginning Balance column is filled with the End of Day fund value from the previous day
2. The Date column is filled with the date the transaction occurred
3. The Account Number column is filled with the Customer Account Number according to the Customer Agreement Book
4. The Fund Out Proof column is filled with the number indicated on the Fund Out Slip
5. The Fund In Proof column is filled with the number indicated on the Fund In Slip
6. The Description column is filled with an explanation of the Fund Mutation
7. The Debit column is filled with the amount of money leaving the Separate Account
8. The Credit column is filled with the amount of money entering the Separate Account

BANK ABC JOURNAL BOOK RECONCILIATION Bank Code ABC Source: Bank Statement BANK ABC Period xxx to xxxx Account No. xxxxxx No. Date No. Account Fund Out Proof Description Debit Credit Balance Fund In Beginning Balance xxxxx 1 Rp0,00 2 Rp0,00 3 Rp0,00 4 Rp0,00 5 Rp0,00 Ending Balance Rp0,00 Cumulative Customer Funds Balance in Separate Accounts No. Bank Currency Balance Exchange Rate Converted Result Balance 1 PT ABC IDR Rp0,00 Rp0,00

• 9 - Form Number PFED 08: Notes on Digital Gold Customer Gold Mutations a. Input daily transactions that occur in the provided columns (Gold Mutation Journal) according to the amount of gold owned by the company

1. The Beginning Balance column is filled with the End of Day gold value (grams)
2. The Date column is filled with the date the transaction occurred
3. The Account Number column is filled with the Customer Account Number according to the Customer Agreement Book
4. The Gold Out Proof column is filled with the number indicated on the Gold Out Slip
5. The Gold In Proof column is filled with the number indicated on the Gold In Slip
6. The Description column is filled with an explanation of the Gold Mutation
7. The Debit column is filled with the amount of Gold leaving
8. The Credit column is filled with the amount of Gold entering

1 GOLD MUTATION JOURNAL RECONCILIATION Code xxxxx Source: xxxxxxx Period xxx to xxxx No. Date No. Account Proof Description Debit Credit Balance Gold Out Gold In Account (in grams) Beginning Balance xxxxx 1 0,00 2 0,00 3 0,00 4 0,00 5 0,00 Ending Balance 0,00 Cumulative Gold Position Balance No. Commodity Quantity (grams) Conversion Value Converted Result Balance 1 Gold Rp0,00

• 10 - ACCOUNTING RECORDING GUIDELINES FOR DIGITAL PHYSICAL GOLD MARKET TRADING

• 11 - TABLE OF CONTENTS TABLE OF CONTENTS - 11 - CHAPTER I GENERAL 13 1.1 INTRODUCTION 13 1.1.1 CHARACTERISTICS OF DIGITAL PHYSICAL GOLD TRADING ACTIVITIES 14 1.1.2 REPORTS OF DIGITAL PHYSICAL GOLD TRADING BUSINESS ACTORS 15 1.2 OBJECTIVES AND SCOPE 17 1.3 REFERENCES FOR PREPARING ACCOUNTING GUIDELINES FOR DIGITAL PHYSICAL GOLD TRADING BUSINESS ACTORS 18 1.4 OTHER PROVISIONS 18 CHAPTER II DIGITAL PHYSICAL GOLD TRADING MECHANISM - 20 - 2.1 ACTORS INVOLVED IN DIGITAL PHYSICAL GOLD TRADING - 20 - 2.1.1 COMMODITY FUTURES TRADING SUPERVISORY AGENCY (BAPPEBTI) - 20 - 2.1.2 FUTURES EXCHANGE - 22 - 2.1.3 FUTURES CLEARING AND GUARANTEE INSTITUTION - 23 - 2.1.4 DIGITAL PHYSICAL GOLD TRADER - 24 - 2.1.5 DIGITAL GOLD STORAGE FACILITY MANAGER - 26 - 2.1.6 DIGITAL GOLD PARTICIPANT - 28 - 2.1.7 DIGITAL PHYSICAL GOLD BROKER - 28 - 2.1.8 DIGITAL GOLD CUSTOMER - 29 - 30 2.2.1 GENERAL PROVISIONS FOR DIGITAL GOLD TRADED IN THE DIGITAL PHYSICAL GOLD MARKET 30 2.2.2 GENERAL PROVISIONS FOR DIGITAL GOLD TRADING 30 2.2.3 CUSTOMER FUND PROVISIONS 31 2.2.4 CUSTOMER, PARTICIPANT, AND DIGITAL PHYSICAL GOLD TRADER OWNED DIGITAL GOLD PROVISIONS 34 2.2.5 DIGITAL GOLD TRADING TRANSACTION MECHANISM MATCHING ON THE FUTURES EXCHANGE 36 2.2.6 DIGITAL GOLD TRADING TRANSACTION MECHANISM MATCHING ON THE DIGITAL PHYSICAL GOLD TRADER 38 CHAPTER III ACCOUNTING FOR DIGITAL PHYSICAL GOLD TRADING BUSINESS ACTORS 40

• 12 - 3.1 BACKGROUND 40 3.2 DIGITAL GOLD TRADING ACCOUNTING PROCESS 40 3.2.1 ACCOUNTING PROCESS 40 3.2.2 BOOKKEEPING BY DIGITAL PHYSICAL GOLD TRADING BUSINESS ACTORS - 42 - 3.2.3 DIGITAL GOLD TRADING TRANSACTIONS - 42 - 3.2.4 PERIODIC REPORT FORMS 60

• 13 - CHAPTER I GENERAL 1.1 INTRODUCTION The preparation of Accounting Recording Guidelines for Transactions in Digital Gold Trading is motivated by the fact that digital gold trading activities have developed widely in society and is a commodity that can be traded through the Physical Market on the Futures Exchange. In accordance with Article 1 of Bappebti Regulation Number 4 of 2019 concerning Technical Provisions for the Implementation of Digital Physical Gold Markets on Futures Exchanges, it is known that the Commodity Futures Trading Supervisory Agency, hereinafter referred to as Bappebti, is a government agency whose main task is to conduct development, regulation, development, and supervision of Commodity Futures Trading. One of the supervisions conducted by Bappebti is supervision over financial integrity and financial reports. In this regard, Digital Physical Gold Trading Business Actors are required to meet financial provisions and submit periodic and/or ad-hoc reports on the implementation of digital gold trading. Financial reports in digital physical gold trading activities generally aim to provide information regarding financial position, financial performance, cash flows, changes in equity, customer funds in separate accounts, and gold mutations that are useful for most financial report users in making decisions. Financial reports also show the results of management accountability for the resources entrusted to them. A financial report will be useful if the information presented in the financial report can be understood, relevant, reliable, and comparable. However, it must be realized that the financial reports of Digital Physical Gold Trading Business Actors do not provide all information that may be needed by parties interested in all digital physical gold trading business actors, because generally financial reports only describe the financial impact of past events, and

• 14 - are not required to provide non-financial information. Nevertheless, in some cases, digital physical gold trading business actors need to provide non-financial information that has a financial impact in the future. The Accounting Recording Guidelines for Digital Gold Trading Transactions are prepared to provide guidance on the application of accounting policies for Digital Gold Trading Business Actors so that the financial reports prepared by Digital Gold Trading Business Actors meet the provisions of SAK (Indonesian Financial Accounting Standards) and other regulations related to the presentation of financial reports by Digital Gold Trading Business Actors. This also aims to avoid diversity in recording transactions related to Digital Physical Gold Trading activities conducted by the same Business Actor.

1.1.1 CHARACTERISTICS OF DIGITAL PHYSICAL GOLD TRADING ACTIVITIES

1. The Digital Physical Gold Market is an organized physical gold market implemented using electronic facilities facilitated by the Futures Exchange or electronic facilities owned by business actors to buy or sell gold where gold ownership records are done digitally (electronically).
2. Gold is a Commodity that can be the Subject of a Futures Contract traded on the Futures Exchange.
3. Digital Gold is Gold where ownership records are done digitally (electronically).
4. Digital Gold must be traded through a safe and responsible scheme and mechanism facilitated by the Futures Exchange where the scheme is a process of buying and selling gold whose quotas are not limited to general physical gold size units.
5. The transaction mechanism of the Digital Physical Gold Market consists of: a. the Physical Market transaction mechanism with transaction matching on the Futures Exchange; or b. the Physical Market transaction mechanism with transaction matching on the Digital Physical Gold Trader.

1.1.2 REPORTS OF DIGITAL PHYSICAL GOLD TRADING BUSINESS ACTORS Digital Physical Gold Trading Business Actors and other users require information regarding financial position, financial performance, cash flows, changes in equity, funds in separate accounts, and gold balance positions. Therefore, there is a need for financial reports and other reports from Digital Physical Gold Trading Business Actors that can provide such information for decision-making, as reflected in the following reports:

1. Balance Sheet; The financial position of Digital Physical Gold Trading Business Actors is influenced by controlled economic resources, financial structure, liquidity, and solvency, as well as the ability to adapt to environmental changes. This information is useful for predicting the future ability of Digital Physical Gold Trading Business Actors to generate cash and cash equivalents, investment needs, distribution of development results and cash flows, predicting the ability of Digital Physical Gold Traders to meet financial commitments at maturity, both short-term and long-term. The financial position information of Digital Physical Gold Trading Business Actors is depicted in the Balance Sheet.
2. Statement of Profit or Loss and Other Comprehensive Income; Information on the performance of Digital Physical Gold Trading Business Actors is needed to assess potential changes in economic resources that may be controlled in the future. This information is useful for predicting the capacity of Digital Physical Gold Trading Business Actors to generate cash flows from existing resources. In addition, this information is useful in formulating the effectiveness of Digital Physical Gold Trading Business Actors in utilizing resources. The performance information of Digital Physical Gold Trading Business Actors is depicted in the Statement of Profit or Loss and Other Comprehensive Income.

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3. Statement of Cash Flows; Information on changes in cash and cash equivalents is useful for assessing the ability of Digital Physical Gold Trading Business Actors to generate