Regulation of the Board of Commissioners of the Financial Services Authority of the Republic of Indonesia Number 7 of 2026 Concerning the Assessment of Financing Receivable Quality of PT Sarana Multi Infrastruktur (Persero)

COPY
REGULATION OF THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 7 OF 2026 CONCERNING THE ASSESSMENT OF FINANCING RECEIVABLE QUALITY OF PT SARANA MULTI INFRASTRUKTUR (PERSERO)

BY THE GRACE OF GOD THE ALMIGHTY,

THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that in order to implement the mandate of Article 52 paragraph (6) of Financial Services Authority Regulation Number 16 of 2024 concerning the Supervision of PT Sarana Multi Infrastruktur (Persero) (State Gazette of the Republic of Indonesia Year 2024 Number 25/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 93/OJK), it is necessary to regulate implementation provisions regarding the assessment of the quality of financing receivables of PT Sarana Multi Infrastruktur (Persero); b. that based on the considerations as referred to in letter a, it is necessary to establish a Regulation of the Board of Commissioners of the Financial Services Authority concerning the Assessment of Financing Receivable Quality of PT Sarana Multi Infrastruktur (Persero);

Recalling: Financial Services Authority Regulation Number 16 of 2024 concerning the Supervision of PT Sarana Multi Infrastruktur (Persero) (State Gazette of the Republic of Indonesia Year 2024 Number 25/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 93/OJK);

DECIDING:

To Establish: A REGULATION OF THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY CONCERNING THE ASSESSMENT OF FINANCING RECEIVABLE QUALITY OF PT SARANA MULTI INFRASTRUKTUR (PERSERO).

This copy is in accordance with the original
Head of the Legal Development Directorate
Legal Department signed.
Aat Windradi

Article 1
The provisions regarding the Assessment of Financing Receivable Quality of PT Sarana Multi Infrastruktur (Persero) as contained in the Appendix which is an inseparable part of this Regulation of the Board of Commissioners of the Financial Services Authority.

Article 2
This Regulation of the Board of Commissioners of the Financial Services Authority shall come into force on the date of establishment.

Established in Jakarta on 31 July 2026

EXECUTIVE HEAD OF SUPERVISOR OF
FINANCING INSTITUTIONS,
VENTURE CAPITAL COMPANIES,
MICRO FINANCE INSTITUTIONS, AND
OTHER FINANCIAL SERVICE INSTITUTIONS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,
AGUSMAN signed.

APPENDIX
REGULATION OF THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 7 OF 2026 CONCERNING THE ASSESSMENT OF FINANCING RECEIVABLE QUALITY OF PT SARANA MULTI INFRASTRUKTUR (PERSERO)

GUIDELINES FOR THE ASSESSMENT OF FINANCING RECEIVABLE QUALITY OF PT SARANA MULTI INFRASTRUKTUR (PERSERO)

DEBTOR BUSINESS PROSPECTS

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Potential for business growth | Business activities have good growth potential. | Business activities have limited growth potential. | Business activities show very limited growth potential or no growth. | Business activities decline. | • Business sustainability is highly doubtful, and difficult to recover.

• High likelihood that business activities will cease.
  Market conditions and debtor's position in competition | • Stable market not affected by changes in economic conditions.
• Limited competition, including a strong position in the market.
• Operating at optimum capacity. | • Good market position, not significantly affected by changes in economic conditions.
• Market share comparable to competitors.
• Operating at nearly optimum capacity. | • Market affected by changes in economic conditions.
• Market position is adequate but with many competitors, yet can recover if implementing new business strategies.
• Not operating at optimum capacity. | • Market significantly affected by changes in economic conditions.
• Business competition is very tight and company operations experience serious problems.
• Capacity is not at a level that supports operations.
• Loss of market share in line with declining economic conditions.
• Operations are not continuous.

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Management quality and labor issues | • Very good management.

• Adequate workforce that has never recorded labor disputes or strikes, or has experienced minor disputes/strikes that were resolved well. | • Good management.
• Workforce is generally adequate, has experienced labor disputes/strikes that were resolved well but there is a possibility of recurrence. | • Adequate management.
• Overstaffed and there are labor disputes/strikes with a fairly material impact on the debtor's business activities. | • Management is less experienced.
• Workforce is overstaffed in significant numbers causing unrest and there are labor disputes/strikes with a fairly material impact on the debtor's business activities. | • Management is very weak.
• Workforce is overstaffed in large numbers causing unrest and there are labor disputes/strikes with a material impact on the debtor's business activities.
  Government, group, and/or affiliate support | • Government support exists within the scope of business activities and debtor risk mitigation; or
• Support from affiliate or group companies is stable and supports the business. | - | • Support from affiliate or group companies is stable and does not have a burdensome impact on the debtor. | - | • Relationship with affiliate or group companies begins to have a burdensome impact on the debtor. | -
  | • No government support exists within the scope of business activities and debtor risk mitigation; or
• Support from affiliate companies is very detrimental to the debtor.

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Efforts made by the debtor to maintain the environment | Good environmental management efforts achieving results at least in accordance with minimum requirements as regulated in applicable laws and regulations. | Environmental management efforts are less good and have not met the minimum requirements as regulated in applicable laws and regulations. | Environmental management efforts are less good and have not met the minimum requirements as regulated in applicable laws and regulations, with fairly material deviations. | The company has not implemented significant environmental management efforts or has implemented efforts but has not met the requirements as regulated in applicable laws and regulations, with material deviations. | The company has not implemented significant environmental management efforts or has implemented efforts but has not met the minimum requirements as regulated in applicable laws and regulations, and has a likelihood of being sued in court.

DEBTOR FINANCIAL PERFORMANCE

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Profit realization | High and stable profit realization. | Profit realization is adequate but has the potential to decline. | Low profit realization. | • Very small or negative profit.

• Operational losses are financed by asset sales.
• Debtor is unable to meet all obligations and business activities cannot be maintained. | • Experiencing significant losses.
  Capital structure | Strong capital structure. | Adequate capital structure and owners have the ability to provide additional capital if needed. | Debt-to-equity ratio is fairly high. | High debt-to-equity ratio. | Very high debt-to-equity ratio. Cash flow | • Strong liquidity and working capital.
• Cash flow analysis shows that the debtor can meet principal and interest payments or margin/profit share/ujroh for Sharia-based activities without additional funding support. | • Liquidity and working capital are generally good.
• Cash flow analysis shows that although the debtor can meet principal and interest payments or margin/profit share/ujroh for Sharia-based activities, there are indications of certain issues that, if not addressed, will affect future payments. | • Weak liquidity and limited working capital.
• Cash flow analysis shows that the debtor can only pay interest or margin/profit share/ujroh for Sharia-based activities and part of the principal. | • Very low liquidity.
• Cash flow analysis shows the inability to pay principal and interest or margin/profit share/ujroh for Sharia-based activities.
• New additional financing is used to meet due obligations.
  | • Liquidity difficulties.
• Cash flow analysis shows that the debtor cannot cover production costs.
• New additional financing is used to meet due obligations, materially.

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Sensitivity to market risks | The amount of portfolio sensitive to changes in foreign exchange rates and interest rates is relatively small or has been well hedged. | Some portfolios are sensitive to changes in foreign exchange rates and interest rates but are still controlled. | Business activities are affected by changes in foreign exchange rates and interest rates. | Business activities are threatened by changes in foreign exchange rates and interest rates. | Business activities are threatened by fluctuations in foreign exchange rates and interest rates.

DEBTOR REPAYMENT CAPACITY

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Timeliness of principal and interest payments, or margin/profit share/ujroh for Sharia-based activities | • Payments are on time, no arrears, or if arrears occur, they do not exceed 30 (thirty) days, and in accordance with financing requirements; and/or

• Realization of profit share (RBH) ≥80% of projected profit share (PBH). | • There are arrears in principal and/or interest payments or margin/profit share/ujroh for Sharia-based activities that have exceeded 30 (thirty) days up to 90 (ninety) days; and/or
• 50% < RBH/PBH < 80%. | • There are arrears in principal and/or interest payments or margin/profit share/ujroh for Sharia-based activities that have exceeded 90 (ninety) days up to 120 (one hundred twenty) days; and/or
• 50% < RBH/PBH < 80% for a period of more than 1 (one) period up to 6 (six) accumulated payment periods; or
• RBH ≤ 50% PBH for up to 3 (three) accumulated financing periods. | • There are arrears in principal and/or interest payments or margin/profit share/ujroh for Sharia-based activities that have exceeded 120 (one hundred twenty) days up to 180 (one hundred eighty) days; and/or
• 50% < RBH/PBH < 80% for a period of more than 6 (six) periods up to 9 (nine) accumulated payment periods; or
• RBH ≤ 50% PBH for a period of more than 3 (three) periods up to 6 (six) accumulated financing periods. | • There are arrears in principal and/or interest payments or margin/profit share/ujroh for Sharia-based activities that have exceeded 180 (one hundred eighty) days; and/or
• 50% < RBH/PBH < 80% for a period of more than 9 (nine) accumulated payment periods; or
• RBH ≤ 50% PBH for a period of more than 6 (six) accumulated financing periods.
  Availability and accuracy of debtor financial information | • Debtor's relationship with PT Sarana Multi Infrastruktur (Persero) is good, the debtor always submits financial information regularly and accurately.
• There is recent financial reporting and analysis results from PT Sarana Multi Infrastruktur (Persero) on the financial reports/financial information submitted by the debtor. | • Debtor's relationship with PT Sarana Multi Infrastruktur (Persero) is adequate and the debtor always submits financial information regularly and is still accurate.
• There is recent financial reporting and analysis results from PT Sarana Multi Infrastruktur (Persero) on the financial reports/financial information submitted by the debtor. | • Debtor's relationship with PT Sarana Multi Infrastruktur (Persero) has deteriorated and financial information cannot be trusted or there are no analysis results from PT Sarana Multi Infrastruktur (Persero) on the financial reports/financial information submitted by the debtor. | • Debtor's relationship with PT Sarana Multi Infrastruktur (Persero) is increasingly deteriorating and financial information is unavailable or cannot be trusted. | • Debtor's relationship with PT Sarana Multi Infrastruktur (Persero) is very poor and financial information is unavailable or cannot be trusted.

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Completeness of financing documentation | Financing documentation is complete. | Financing documentation is complete. | Financing documentation is less complete. | Financing documentation is incomplete. | No financing documentation exists. Compliance with financing agreement | No violations of the financing agreement. | Non-principal violations of the financing agreement. | Violations of principal financing requirements that are fairly principal. | Principal violations of the main requirements in the financing agreement. | Very principal violations of the main requirements in the financing agreement. Suitability of fund usage | • Funds used in accordance with the financing application.

• The amount and type of facilities provided are in accordance with needs.
• Financing extension is in accordance with the debtor's needs analysis. | • Funds used less in accordance with the financing application, but the amount is not material.
• Financing extension is less in accordance with the debtor's needs analysis.
• The amount and type of facilities provided are larger than needs, but the amount is not material. | • Funds used less in accordance with the financing application, with a fairly material amount.
• Financing extension is not in accordance with the debtor's needs analysis (financing extension to hide financial difficulties).
• The amount and type of facilities provided are larger than needs, with a fairly material amount. | • Funds used less in accordance with the financing application, with a material amount.
• Financing extension is not in accordance with the debtor's needs analysis (financing extension to hide financial difficulties), with fairly material deviations.
• The amount and type of facilities provided are larger than needs, with a material amount. | • Most of the fund usage is not in accordance with the financing application.
• Financing extension without debtor needs analysis.
• The amount and type of facilities provided are larger than needs with a very material amount.

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| PERFORMING | SPECIAL MENTION | SUBSTANDARD | DOUBTFUL | LOSS
Fairness of payment source for obligations | • Payment source can be clearly identified and agreed upon by PT Sarana Multi Infrastruktur (Persero) and the debtor.

• Payment source is in accordance with the financing structure/type.
• Repayment scheme is fair (including the provision of grace periods).
• Foreign exchange income is sufficient to support foreign exchange financing repayment. | • Payment source can be identified and agreed upon by PT Sarana Multi Infrastruktur (Persero) and the debtor.
• Payment source is less in accordance with the financing structure/type.
• Repayment scheme is fairly fair (including the provision of grace periods).
• Foreign exchange income is less sufficient to support foreign exchange financing repayment. | • Payment source is less in accordance with the financing structure/type, fairly materially.
• Repayment scheme is less fair and there is a provision of grace periods that are not in accordance with the type of financing.
• Foreign exchange income is insufficient to support foreign exchange financing repayment, fairly materially. | • Payment source is not known, while the agreed source is no longer possible.
• Payment source is less in accordance with the financing structure/type materially.
• Repayment scheme is less fair and there is a provision of grace periods that are not in accordance with the type of financing with a fairly long duration.
• Foreign exchange income is insufficient to support foreign exchange financing repayment materially. | • No possible payment source exists.
• Payment source is not in accordance with the financing structure/type.
• Repayment scheme is unfair and there is a provision of grace periods that are not in accordance with the type of financing with a fairly long duration.
• No foreign exchange receipts exist to support foreign exchange financing repayment.

This copy is in accordance with the original
Head of the Legal Development Directorate
Legal Department signed.
Aat Windradi

EXECUTIVE HEAD OF SUPERVISOR OF FINANCING INSTITUTIONS, VENTURE CAPITAL COMPANIES, MICRO FINANCE INSTITUTIONS, AND OTHER FINANCIAL SERVICE INSTITUTIONS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, signed. AGUSMAN