Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Strengthening Business and Portfolio, Enhancing Passenger Experience

PT I (Persero) continues to strive to strengthen the effort to become one of the best airport operators in Asia by strengthening business and portfolios by building good financial performance, developing new airports, improving services, and applying international standards. Service quality and facility innovation at new and existing airports is a priority to improve the quality of passenger experience.

Disclaimer This is the Annual Report of PT Angkasa Pura I due to various risk factors that can hinder the Company’s (Persero), hereinafter referred to as the “Annual Report”, efforts to realize these statements. which presents data and information regarding the performance of management and implementation The readers of this Annual Report can submit questions of corporate governance for the period of January to or responses, or request more information about PT December 2019. The use of terms “Angkasa Pura I”, Angkasa Pura I (Persero) through: “AP I”, or “Company” in the Annual Report refers to PT Angkasa Pura I (Persero). Awaluddin Corporate Communication Department The contents of the Annual Report are compiled based Graha Angkasa Pura I, Kota Baru Bandar on internal and external data sources and information Blok B12 Kav. 2, Kemayoran, Pusat 10610 that are deemed necessary to be known by stakeholders. Phone : (+62) 21 6541 961 In addition to containing historical data and information, Fax : (+62) 21 6541 514 readers of the Annual Report will find several forward- Email : [email protected] looking statements. For information and complaints, contact 172 or via email PT Angkasa Pura I (Persero) is carefully presenting [email protected] forward-looking statements because they contain ideas, hopes, ideals, goals, or future targets. Although it has been carefully considered, PT Angkasa Pura I (Persero) cannot guarantee that future outlook can be achieved

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Theme Correlations

2018 GROWING STEADILY TO ENTER GLOBAL CLASS STANDARD

PT Angkasa Pura I (Persero) has successfully been recorded as one among 10 (ten) most fast-growing airport management companies in Asia. A number of airports under the Company’s management have also secured global achievement, including I Gusti Ngurah Rai International Airport that was awarded as The Best Airport in Asia Pacific by ASQ and Airports Council International (ACI), SAMS Sepinggan International Airport in that was awarded as the Second World’s Best Airport, and Juanda International Airport in that was awarded as the Third World’s Best Airport by ACI.

2017 PROUD TO SERVE THE NATION

PT Angkasa Pura I (Persero) keeps on improving the service quality of its managed airports and supports government’s programs, specifically in improving air connectivity and escalating the foreign tourist visit. The company has initiated strategies through terminal service innovation, smart airport implementation, digitalization of corporate business process and acceleration in three strategic airport constructions which belong to national strategic projects.

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2016 BUILDING NATIONAL PRIDE THROUGH THE DEVELOPMENT OF AIRPORT INFRASTRUCTURE

According the company’s vision “To Become One of the Top Ten Airport Operators in Asia,” PT Angkasa Pura I (Persero) restructures the business paradigm from a mere infrastructure provider into a service company oriented towards the improvement of airport users’ safety, security and comfort using smart airport model. PT Angkasa Pura I (Persero) also has a role to accelerate the creation of competitiveness and become the center of regional development that support the ‘catchment areas’ in accordance with the toll, sea and air connectivity integration concepts.

2015 DEVELOPMENT ON HIGH PERFORMANCE AIRPORT OPERATOR CORPORATION

In accordance with the road map for the Company’s Long Term Plan (RJPP) from 2014 to 2018, it was determined to enhance the performance through including excelling the implementation of service and operation excellence, optimizing the effectiveness and cost efficiency, optimizing the entire potential synergies both internally and externally, and accelerating and improving the value creation of the strategic partnerships.

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Kilas Kinerja Keunggulan Kami

01Pioneer Company in Commercial Airport Management in

In line with its vision as the world-class airport management company, PT Angkasa Pura I (Persero) successfully secured a number of awards for the airports under its management, including: 1. The Best Airport in Asia Pacific, for the category of 5 – 15 million passengers annually 2. Best Companies to Work for in Asia 2019 - Indonesia Chapter 3. Best State-Owned Enterprise Governance Award I

Management02 of Main Airports on Indonesia’s Central Business and Tourism

PT Angkasa Pura I (Persero) manages strategically located airports in business centers, including Surabaya and , and tourism areas, such as and .

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High Commitment03 in The Implementation of World Class Information and Communication Technology

PT Angkasa Pura I (Persero) is highly committed to adopt the worldclass information and communication technologies (ICT). The commitment is implemented through the strategies, including: operation excellence, revenue safeguarding, ERP enhancement, and ICT foundation enhancement.

The operation excellence strategy includes the enhancement of communication technologies to support the reliable business by implementing the smart airport that is available in 14 (fourteen) the Airport Operation Control System (AOCS) in airports as an attempt to improve Customer all of the airports. The Company has innovated Satisfaction Index (CSI). in the SATU Aplikasi Untuk Prestasi program by applying the digital office automatization PT Angkasa Pura I (Persero) established its ERP services called Office Collaboration Platform enhancement through the financial system (OCP) , Management of Electronic Document integration among the subsidiaries and parent (TNDE), and AP I e-Learning (APel) to improve the company to produce the accurate and punctual working productivity and competencies of all the Consolidation Financial Report, SAP development personnels involved PT Angkasa Pura I (Persero). (BPC and Enterprise Asset Management), and the integration of Legacy Application with the ERP The revenue safeguarding strategy includes the Platform via service-bus. integration of information and communication technologies (ICT) that relate to the services, such Meanwhile, the ICT enhancement is carried out as Passenger Service Charge on Ticket System through the standardization of ICT infrastructures (POTS) and Parking System. PT Angkasa Pura I (LAN, WAN, Communication, Wi-Fi, and Servers), (Persero) had provided a free Wi-Fi service with ICT Governance, and Human Resources fulfillment up to 100 MB per access point in bandwidth related to certification, training, and number). and Angkasa Pura Airport Mobile Apps that is available on Apple App Store and Google Play through personalized service. The provision of the technologies implies the initial implementation of

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04High Commitment to The Implementation of Safety, Security, and Service Through Compliance (3S1C)

PT Angkasa Pura Persero I (Persero) is highly committed to apply the principles of Safety, Security, and Service through Compliance (3S+1C). The program is targeted to implement the reliable services that prioritize safety, comfort, and smoothness. It emphasizes the reinforcement of service compliance based on its rights and duties. PT Angkasa Pura I (Persero) has applied the program at its gates, parking lots, and public places in the airports.

The company has adopted 3S1C beyond regulation. In addition to the regulation compliance, the Company has held the activities related to the enhancement of airport safety by referring to the international standard. The 3S1C implementation was proven by the attainment of Airport Service Quality (ASQ) score from ACI that reached above 4.5 for 4 (four) airports in 2018, in addition to the Corporate Satisfaction Index

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(CSI) score from INACA that reached above 4 for AIRPORT SAFETY 13 (thirteen) airports. The Company also secured Ensuring the safety level and service quality a number of certifications in providing the through the effective safety management operational excellence and service excellence, system, occupational safety health, and quality including ISO 14001:2015, ISO 9001:2015, Airport management to reach the target of Customer Excellence in Safety, OHSAS 18001:2007, and ISO Satisfaction lndex (CSl). 31000. AIRPORT FACILITIES AND The implementation of 3S+1C beyond regulation MAINTENANCE involved a number of management divisions of PT Ensuring the quality of all the airport facilities, Angkasa Pura I (Persero) with the following duty including the air side, land side, landscape, and and responsibility: terminal building managed by the Company to reach the target of Customer Satisfaction lndex AIRPORT COMPLIANCE AND RISK (CSI). MANAGEMENT Ensuring the Company’s business processes take AIRPORT EQUIPMENT place with a manageable level of risk through Ensuring the operational readiness for all the the process of risk management and ensuring airport equipments managed by the Company to the availability of the corporate strategic plan reach the target of Customer Satisfaction lndex formulation through business analysis and study, (CSI). monitoring and performance evaluation of PT Angkasa Pura I (Persero). This is to support the AIRPORT SERVICES AND achievement work targets in accordance with the HOSPITALITY Work Plan and Corporate Budget (RKAP). Ensuring effective airport services and hospitality services through improving the quality and AIRPORT PLANNING reliability of human resources to support the Ensuring the availability of data related to airport improvement of the field of service and quality statistics, airport master plan, and environment assurance, as well as the achievement of through business analysis and studies to support Customer Satisfaction Index (CSI) of all airports the achievement of PT Angkasa Pura I (Persero) in accordance with national and international ‘s strategy in accordance with the policies and regulatory standards. regulations set by the regulator.

AIRPORT SECURITY Ensuring an effective airport security through the quality improvement and Human Resource reliability to reach the target of Customer Satisfaction Index (CSI) for all the airports based on the national and international standard.

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PT Angkasa Pura I (Persero) through several Partnership and Environment Development Programs (PKBL) also contributed positively to maintaining the environment both around the Positive airport in the airport and outside the airport area. 05 The periodic report on Environmental Impact Contribution for the Analysis (AMDAL) and other environmental Living Environment management reports is also submitted as one of Key Performance Indicator (KPI) for all airports. PT Angkasa Pura I (Persero) consistency to implement the green corporation, is proven by the number of secured certifications related to environmental management, such as ISO 14001:2015, green building certification from Green Building Council Indonesia, and Airport Carbon Accreditation (ACA) from Airports Council International (ACI).

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Table of Content

Theme 128 Company Group Structure Theme Correlations 129 Awards and Certification 13 Performance Overview 146 Management Education and Training 13 Overview of 2019 Business Performance 165 Access of Information and Company’s Data 14 Overview of Important Financial Data 166 Name and Addresses of Head Offices, Subsidiaries, Associates, Foundations and 20 Share Price and Bonds Information Branch Offices 21 Bonds, Sukuk, or Conversion Bonds Information 25 The Board of Commissioners Report 29 The Board of Directors Report

170 Management Discussions and Analysis 172 Macroeconomic and Industry Overview 177 Operational Performance Review 182 34 Company Profile Marketing Aspect 188 36 Brief Profile Performance Per Operating Segment 198 38 Company Brand Financial Review 234 39 A Brief History of The Company Capital Structure 235 42 Milestones Material Commitment Related to Investment of Capital Goods 45 2019 Significant Events 236 Realization of Investment of Capital Goods 49 Vision, Mission, and Corporate Culture 236 Material Information on Investment, 51 Business Activities Expansion, Divestment, Acquisition, Or Debt and Capital Restructuring 61 Innovation and Enterpreneurship 238 Achievement of Targets and Future Targets 66 Organizational Structure 245 Material Information and Facts After Date of 68 Profile of Board of Commissioners Accounting Statements 74 Profile of Board of Directors Policies, Announcement and Payment of ו24 82 Profile of Executive Officers Dividens Stock Ownership Program זHuman Resources Management 24 95 Realization of the Use of Proceeds From חShareholder Composition 24 101 Public Offering 102 Subsidiaries, Associated Entities and Material Information Containing Conflict of בFoundations 25 Interest and/or Transaction with Affiliated 116 Chronological Issuance of Shares Parties 124 Chronology of Issuance and Listing of Other Information on Business Continuity ג25 Securities Tax Disclosure ג25 126 Name and Address of Supporting Agency/ Performance of Subsidiaries הProfession 25

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Corporate Governance 406 CORPORATE SOCIAL AND ENVIRONMENTAL ב226 RESPONSIBILITY Governance Framework and Structure ג26 Governance of Corporate Social Responsibility ז40 General Meeting of Shareholders ה26 Fair Operating Practices ג41 Board of Commissioners ב29 Upholding Human Rights ו41 Board of Directors ח30 ׎ Environmentא4 ׎ Diversity of Board of Commissioners andב3 Employment דBoard of Directors 42 Consumers אGCG Assessment 43 א33

Social and Community Development הRemuneration Policy of the Board of 45 ה33 Commissioners and Board of Directors ׎ Disclosure of Shareholdersג3 472 OJK Reference No. 29/POJK.04/2016 ׏ Affiliate Relationshipג3 485 Annual Report Award Criteria Secretary of the Board of Commissioners ב34 Audit Committee ג34 t98 rePOrTIng lIABIlITy sTATemenT Business Risk and Good Corporate ב35 Governance Committee Nomination and Remuneration Committee 500 COnsOlIDATeD fInAnCIAl sTATemenT ד36 Corporate Secretary ו36 ׎ Internal Audit Committeeו3 Risk Management Committee ו37 Risk Management ח37 Internal Management System ב38 Public Accountant ו38 Important Matters ח38 Administratif Sanction ב39 Code of Conduct ב39 Whistleblowing System ה39 ׎׏ Execution of the Implementation ofג the Aspects and Principles of Corporate Governance According to OJK’s Regulations

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Overview of 2019 Business Performance

Aeronautical Non-Aeronautical Net Profit of The Year Revenue Revenue

2.69% 7.28% 27.6% to to to IDR4.98 trillion IDR3.66 trillion IDR1.45 trillion

Total Airport Landing, Parking, and Aircraft Passenger Aset Hangar Services (PJP4AU) Services (PJP2U)

35% 14.7% 18.4% to to to IDR42.7 trillion 25 million tons 35.8 million pax

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Overview of Important Financial Data

Financial Summary

Financial Summary (in millions of Rupiah)

Description 2019 2018 2017 2016 2015

CONSOLIDATED FINANCIAL POSITION STATEMENT

ASSETS

CURRENT ASSETS

Cash 5,510,904 3,149,114 4,146,086 4,896,215 1,746,273

Short-term Investment 665,862 478,107 407,156 295,241 216,447

Accounts receivable 527,767 509,909 520,295 482,770 571,171

Other receivables 83,344 39,712 19,053 12,445 128,562

Inventories 69,404 84,808 68,668 40,617 36,359

Advances and prepaid expenses 139,960 159,381 72,003 63,696 23,978

Accrued income 291,022 298,444 225,606 201,227 208,419

Prepaid taxes 840,958 367,865 105,569 82,242 150,836

Other current assets 64,277 28,267 13,396 10,249 8,076

Total Current Assets 8,190,498 5,115,606 5,557,832 6,084,701 3,090,122

NON-CURRENT ASSETS

Estimated Tax Bill 112,711 - - - -

Deffered tax assets 48,495 41,158 83,863 302 1,413

Long-term receivables 89 504 1,514 700 -

Non-current advances and 12,665 34,322 52,741 78,217 -

prepaid expense 109,819 100,662 86,642 96,129 129,660

Bond 25,347 13,361 - 7,455 37,340

Investments in shares of associates 84,472 87,301 86,300 88,333 91,978

Joint operation - - 86,642 342 342

Investment property 128,888 127,065 247,036 200,785 149,845

Fixed assets 34,127,911 26,139,593 18,627,786 17,155,509 13,304,090

Intangible assets 43,466 42,322 48,998 44,244 45,373

Other non-current assets 12,097 7,074 6,227 6,358 1,835

Other assets - - - - 1,490,586

TOTAL NON-CURRENT ASSETS 34,596,053 16,493,309 19,154,808 17,582,245 13,632,216

TOTAL ASSETS 42,786,551 31,608,916 24,732,641 23,666,946 16,722,337

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Financial Summary (in millions of Rupiah)

Description 2019 2018 2017 2016 2015

LIABILITY AND EQUITY

CURRENT LIABILITIES

Accrued expenses 1,322,288 1,412,039 1,379,558 879.355 599,103

Trade payables 314,867 689,341 250,777 1,591,610 692,672

Non-trade payables 403,363 10,580 1,553 16,626 53,771

Unearned revenues 128,332 147.263 97,658 87,481 88,640

Tax payables 425,502 393,236 267,746 138,441 169,635

Short-term part of long-term debt 158,011 941,998 644,220 749,480 590,1569

Current part of leasing debt - - - 3,671 2,611

Other payables 2,889,176 1,787,220 1,230,630 505,126 518,323

TOTAL CURRENT LIABILITIES 6,180,789 7,614,989 3,948,861 3,871,792 2,704,914

LONG TERM LIABILITY

Long-term bank loans 16,724,208 5.385,997 3,665,694 4,304,115 2,474,585

Debt guarantee 287,018 - - 49,448 37,081

Bonds payable and sukuk ijarah 2,994,896 2,993,701 2,992,475 2,991,310 -

Financial lease - - - 4,617 8,651

Other long-term debt 101,953 170,529 174,905 167,636 121,216

Post-employment benefits liability 437,293 302,395 549,244 329,980 346,841

Deferred tax liabilities 79,886 89,080 - - -

Total Long-Term Liability 20,625,255 8,941,701 7,382,318 7,797,657 2,988,373

TOTAL LIABILITIES 26,806,043 16,556,690 11,650,349 11,669,449 5,693,287

EQUITY

Shares capital 6,414,412 6,414,412 6,414,412 6,414,412 6,414,412

Other paid-up capital:

The government capital investment 22,963 22,963 255,097 255,097 -

Undetemined status of government - - - 255,097 contribution

Fixed navigation assets diversion:

Book value of fixed assets navigation (37,005) (37,005) (269,138) (269,138) (269,138)

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Financial Summary (in millions of Rupiah)

Description 2019 2018 2017 2016 2015

Accumulated depreciation of navigation 408,393 408,393 408.393 408,393 408,393 fixed assets from BPYBDS:

Other comprehensive income:

Unrealized profit on securities 68,044 55,751 58,521 40,144 24,016

Profit (loss) actuarial employee (130,080) (48,987) 110,823 (93,019) (54,229) benefits

Retained Earning:

Appropriated 7,774,022 6,228,618 5,093,757 4,080,412 3,407,178

Unappropriated 1,451,360 2,007,018 1,418,577 1,158,800 841,543

Non-controlling interests 5,498 4,863 6,298 2,395 1,778

TOTAL EQUITY 15,980,508 15,052,225 13,401,461 11,997,497 11,029,049

TOTAL EQUITY AND LIABILITY 42,786,551 31,608,917 25,051,810 23,666,946 16,722,337

CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME

OPERATING REVENUES

Revenues of aeronautics 4,975,936 5,113,648 4,525,855 3,612,288 3,155,237

Revenues of non-aeronautics 3,655,610 3,407,439 2,668,492 2,525,984 2,094393

TOTAL OPERATING REVENUES 8,631,546 8,521,087 7,194,347 6,138,272 5,249,630

OPERATIONAL EXPENSES 5,937,866 5,762,646 5,206,917 4,488,862 3,955,670

OPERATING PROFIT 2,693,680 2,916,795 1,974,492 1,649,409 1,293,960

NON-OPERATING INCOME (EXPENSES) 670,896 (93,733) (81,489) (14,557) (211,217)

INCOME BEFORE THE ESTIMATION OF 2,022,784 2,694,934 1,789,497 1,508,853 1,082,742 INCOME TAX

INCOME TAX 570,557 689,016 369,144 349,276 240,769

CURRENT YEAR INCOME 1,452,227 2,005,918 1,420,353 1,159,577 841,973

OTHER COMPREHENSIVE INCOME

Unrealized profit (loss) on 12,293 (2,770) 18,377 16,128 (20,816) securities investment

Actuarial profit (loss) on post (80,524) (66,783) 110.824 (38,790) (98,962) employment benefits

Actuarial profit (loss) on associated (2,466) (1,551) entities

CURRENT YEAR COMPREHENSIVE 1,381,530 1,934,254 1,547,292 1,136,916 722,195 PROFIT

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Financial Summary (in millions of Rupiah)

Description 2019 2018 2017 2016 2015

CURRENT YEAR PROFITS THAT CAN BE ATTRIBUTED TO:

Owner of the parent entity 1,451,360 2,007,018 1,418,577 1,158,800 841,543

Non-controlling interests 867 (1,100) 1,776 777 430

TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE YEAR THAT CAN BE ATTRIBUTED TO:

Owner of the parent entity 1,380,673 1,935,914 1,545,517 1,136,139 721,765

Non-controlling interests 857 (1,100) 1,776 777 430

Basic Earnings Per Share (Full Number) 226,265 312,892 221,155 181,000 131,000

CONSOLIDATED CASH FLOWS

Net cash flows obtained from operating 1,549,272 3,028,461 1,479,078 2,061,396 802,663 activities

Net cash flows obtained from (9,795,788) (5,852,267) (1,712,941) (3,710,543) (1,260,227) investment activities

Net cash flows obtained from funding 10,581,807 1,773,067 (481,794) 4,811,652 705,990 activities

NET REDUCTION AND CASH 2,361,790 (996,972) (750,129) 3,162,504 248,425 EQUIVALENTS

Effect of foreign exchange differences 26,499 53,767 (34,472) (12,562) 145,587

CASH AND CASH EQUIVALENTS AT THE 3,149,114 4,146,086 4,896,215 1,746,272 1,352,260 BEGINNING OF THE YEAR

CASH AND CASH EQUIVALENTS AT THE 5,510,904 3,149,114 4,146,086 4,896,215 1,746,273 END OF THE YEAR

FINANCIAL RATIO

RENTABILITY*

Operating profit ratio 31.21% 34.23% 27.45% 26.87% 24.65%

Profit against assets ratio 6.30% 6.35% 4.49% 4.90% 5.04%

Operating expense ratio 69.08% 68.77% 71.94% 73.13% 75.35%

Profit to equity ratio 57.77% 13.33% 10.60% 9.67% 7.63%

Profit to income ratio 16.21% 23.54 19.74% 18.89% 16.04%

LIQUIDITY

Current Ratio 132.52% 67.18% 141.25% 157.15% 114.24%

Cash Ratio 99.93% 41.35% 104.99% 126.46% 64.56%

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Financial Summary (in millions of Rupiah)

Description 2019 2018 2017 2016 2015

SOLVABILITY**

Debt to asset ratio 62.65% 52.38% 45.81% 49.31% 34.05%

Debt to capital ratio 167.74% 109.99% 84.55% 97.27% 51.62%

Debt to fixed asset ratio 77.48% 63.34% 60.83% 67.23% 42.32%

Note: * Profit (loss) referred to in the calculation of profitability ratios ie profit (loss) for the current year attributable to the owner of the parent entity ** Liabilities referred to in the calculation of solvency ratios which include deferred tax liabilities and post employment benefits

Operational Summary

Aeronautics Segment Operational Table (in millions of Rupiah)

Product Unit 2019 2018 2017 2016 2015

Landing Services, Plane Placement and Storage Ton 25,016,634 28,681,347 28,098,099 27,956,662 25,572,859 (PJP4AU)

Aircraft Passenger Pax 35,755,591 42,349,974 40,078,358 38,021,607 33,016,975 Services (PJP2U)

Usage of Aviobridge Ton 28,302,004 30,253,959 28,166,989 28,055,433 26,445,957

Use of Counter Pax 35,640,003 42,242,630 39,906,428 38,069,196 37,555,129

Baggage Handling Pax 528* 979,580 5,699,259 7,409,001 7,088,941

Note: * BHS / HBS tariff components have been included in the Aircraft Passenger Services (PJP2U) tariff component

Operational Performance Table for Non-Airport Segments (Non-Aeronautics) (in millions of Rupiah)

Product Unit 2019 2018 2017 2016 2015

Rent M² x Month 9,488,436 7,490,291 8,542,321 12,191,641 6,225,618

Concession Rp/000 26,023,806,416 27,881,233,723 9,570,569,203 7,959,339,881 5,821,685,310

Car park Sheet 28,264,917 33,371,374 29,096,030 25,970943 22,669,408

Motorcylce Sheet 10,455,258 11,232,860 9,762,063 9,540,777 7,322,029 parking

Platform and Waving Sheet 50,597 - - - 402,301 Gallery

Electricity Kwh 43,807,615 52,675,053 45,850,618 41,971,642 29,151,481 Usage

Water Use M³ 626,363 525,845 495,704 387,203 264,063

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Operational Performance Table for Non-Airport Segments (Non-Aeronautics) (in millions of Rupiah)

Product Unit 2019 2018 2017 2016 2015

Pwt x Telephone Use 18,423 20,702 21,391 20,432 16,511 Month

Internet Kilobyte 1,228 994 854 829 445,466 Services

Billboard Rent M² x Month 76,674 31,860 20,768 36,240 58,24

Event EA 9,971 3,679 7,650 2,111 1,265 Promotion

Lounge Pax 197,788 295,891 575,135 772,953 716,962

Konsesi General Aviation Rp/000 - - 15.111.387 22.927.769 23.932.072 Terminal (GAT) Concession

Maintenance EA 5,474 13,711 21,426 44,670 4,146 and Service Fee

Warehousing Kg 91,179,716 86,754,808 238,361,160 96,201,465 64,600,511

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Share Price and Bonds Information

Shares Information

1. Shares As of 31 December 2019, PT Angkasa Pura I (Persero) does not hold a public company status and has not listed any of their shares on the stock exchange. Thus, this Annual Report does not contain data and information in the last 2 (two) financial years regarding the total price shares, market capitalization, highest share price, lowest stock price, closing stock price, and trading volume on the stock exchange.

2. Corporate Action Throughout 2019, there were no corporate actions carried out by PT Angkaas Pura I (Persero), such as stock split, reverse stock, stock dividends, bonus shares, and changes in the nominal value of shares. Therefore, this Annual Report does not present data and information regarding the date of the implementation of corporate actions, stock split ratio, reverse stock ratio, stock dividend ratio, bonus stock ratio, and changes in stock value, as well as share prices before and after corporate actions.

3. Temporary Action of Stock Trading (Suspension) and Elimination of Shares Registration (Delisting) Until the end of this reporting period, PT Angkasa Pura I (Persero) had never traded its shares on the stock exchange. Therefore, this Annual Report does not contain data and information regarding the suspension of trading (suspension) and/or delisting of shares (delisting) along with an explanation of the reasons, and actions taken by the Company to resolve the suspension of trading of stocks (suspension) and/or delisting of said shares.

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Bonds, Sukuk, or Conversion Bonds Information

1. Bonds Informations As of the end of 2019, PT Angkasa Pura I (Persero) had bonds listed on the Indonesia Stock Exchange on November 23, 2016 for a period of five, seven and ten years. PT Angkasa Pura I (Persero) I appointed PT Bank Mega, Tbk. as trustee for all the bonds. The following table presents data and information regarding PT Angkasa Pura I (Persero) bonds which are still outstanding as of December 31, 2019.

PT Angkasa Pura I (Persero) Outstanding Bonds as of December 31, 2019

Bond I Angkasa Pura I Year 2016 A Series

Stock Exchange Electronic Distribution Interest Rate 22 November 2016 8.10%

Stock Exchange Registration Date Payment Status 23 November 2016 Not yet paid off

Tenure Rank 5 years 2019 2018 Currency idAAA idAAA Rp

Total Bonds (billion) Trusted Agent 622 PT Bank Mega,Tbk

Maturity Date 22 November 2021

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Bond I Angkasa Pura I Year 2016 B Series

Stock Exchange Electronic Distribution Interest Rate 22 November 2016 8.40%

Stock Exchange Registration Date Payment Status 23 November 2016 Not yet paid off

Tenure Rank 7 years 2019 2018 Currency idAAA idAAA Rp

Total Bonds (billion) Trusted Agent 389 PT Bank Mega,Tbk

Maturity Date 22 November 2023

Bond I Angkasa Pura I Year 2016 C Series

Stock Exchange Electronic Distribution Interest Rate 22 November 2016 8.55%

Stock Exchange Registration Date Payment Status 23 November 2016 Not yet paid off

Tenure Rank 10 years 2019 2018 Currency idAAA idAAA Rp

Total Bonds (billion) Trusted Agent 1,489 PT Bank Mega,Tbk

Maturity Date 22 November 2023

PT Angkasa Pura I (Persero) 22 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

2. sukuk Information The issuance of Sukuk was carried out by PT Angkasa Pura I (Persero) on November 22, 2016 with tenors of five, seven and ten years. Currently, all Sukuk are still circulating in the community with a total Sukuk of IDR500 billion. The table on the status of Sukuk PT Angkasa Pura I (Persero_ as of 31 December 2019 can be seen as follows.

PT Angkasa Pura I (Persero) Outstanding Sukuk as of December 31, 2019

Sukuk Ijarah A Series

Stock Exchange Electronic Interest Rate 22 November 2016 21,708

Stock Exchange Registration Date Payment Status 10 November 2016 Not yet paid off

Tenure Rank 5 years 2019 2018 Currency idAAA(sy) idAAA(sy) Rp

Total Bonds (billion) Trusted Agent 268 PT Bank Mega Tbk.

Maturity Date 22 November 2021

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 23 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

3. Informasi Obligasi Konversi As of December 31, 2019, PT Angkasa Pura I (Persero) had not yet issued convertible bonds, therefore this Annual Report does not contain data and information regarding convertible bonds that are still outstanding in society.

Sukuk Ijarah B Series

Stock Exchange Electronic Interest Rate 22 November 2016 4,620

Stock Exchange Registration Date Payment Status 10 November 2016 Not yet paid off

Tenor Rank 7 years 2019 2018 Currency idAAA(sy) idAAA(sy) Rp

Total Bonds (billion) Trusted Agent 55 PT Bank Mega,Tbk

Maturity Date 22 November 2023

Sukuk Ijarah C Series

Stock Exchange Electronic Interest Rate 22 November 2016 15,133

Stock Exchange Registration Date Payment Status 10 November 2016 Not yet paid off

Tenor Rank 10 years 2019 2018 Currency idAAA(sy) idAAA(sy) Rp

Total Bonds (billion) Trusted Agent 55 PT Bank Mega,Tbk

Maturity Date 22 November 2026

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The Board of Commissioners’ Report

Dear respected stakeholders of PT Angkasa Pura I (Persero),

PT Angkasa Pura I (Persero) publishes the Annual Report every year as its commitment to implementing good corporate governance (GCG). This section is an introduction from the Board of Commissioners to the Annual Report for the period of January 1 to December 31, 2019, with the theme of “Strengthening Business and Portfolio”.

Djoko Sasono President Commissioner

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Assessment of Company Management and Performance of the Board of Directors

The Board of Commissioners appreciated to developments, the fixed assets of PT Angkasa the Board of Directors for various policies and Pura I (Persero) increased from Rp 26.1 trillion in leadership to continue to improve the financial 2018 to Rp 34.1 trillion in 2019. Both airport projects and operational performance of PT Angkasa Pura have been funded through bonds, sukuk and I (Persero). In 2019, despite various challenges, the bank loans. satisfactory performance achieved indicates that the Board of Directors has carried out its duties and In terms of operational and financial performance, responsibilities well in managing the company. PT Angkasa Pura I (Persero) recorded a growth in operating revenue from Rp 8.5 trillion in 2018 to PT Angkasa Pura I (Persero) has completed the Rp 8.6 trillion in 2019. Even though revenues from Construction Project of Yogyakarta International the aeronautical segment experienced a decline, Airport in Kulon Progo and the Development revenues from the non-aeronautical segment Project of New Terminal of Syamsudin Noor was able to offset the decrease. The Board of Airport in Banjarmasin. Yogyakarta International Commissioners considered that this strategy Airport in Kulon Progo commenced operations was highly appropriate in the midst of changes on May 6, 2019. Further, the new Terminal of in the behavior of current aviation service users Syamsudin Noor Airport in Banjarmasin was who prioritize safety, comfort and excellence in inaugurated by the President of the Republic of customer experience. Indonesia on December 18, 2019. In line with these

Supervision of Strategy Implementation

Currently, PT Angkasa Pura I (Persero) set a new One effort of PT Angkasa Pura I (Persero) to manage vision of the company to “going global and network performance on service excellence was by measuring minded” and highlight Indonesian culture as the the customer satisfaction index (CSI). In 2019, PT Angkasa strength of operational service in airports managed Pura I (Persero) achieved a CSI score of 4.48 from a scale by the Company. The Board of Commissioners of 5.00. Further, in terms of revenue enhancement, the appreciates the Vision of ‘Connecting the World Company managed to increase its non-aeronautical Beyond Airports Operator with Indonesian revenues from Rp 3.4 trillion in 2018 to Rp 3.6 trillion in Experience’ dedicated to make PT Angkasa Pura I 2019. This increase was able to compensate for negative (Persero) airports to be “more serving”. growth in aeronautical revenues from Rp 5.1 trillion in 2018 to Rp 4.9 trillion in 2019. To achieve this goal, PT Angkasa Pura I (Persero) has established four ‘winning strategies’, namely service In line with the change in global business practices excellence and compliance, revenue enhancement, that are becoming more environmentally friendly, cost and risk management, and socioeconomically PT Angkasa Pura I (Persero) has implemented the responsible green corporation. Throughout 2019, the socioeconomically responsible green corporation Board of Commissioners continuously supervised strategy through the eco-airport initiative, and communicated with the Board of Directors on community empowerment and green corporation the implementation of the corporate strategy. In programs. Several airports of PT Angkasa Pura general, the Board of Commissioners considered I (Persero) have been ‘Greenship’ certified by that the implementation of strategy of PT Angkasa the Green Building Council Indonesia (GBCI), Pura I (Persero) has been right on target and proved namely Jenderal Airport – , to be effective, although further improvement is Yogyakarta International Airport – Kulon Progo and needed. I Gusti Ngurah Rai Airport – Bali.

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Assessment of Business Prospect

In the medium and long term, the Board of In line with the dynamics of the airport industry Commissioners remains optimistic about the and changes in consumer behavior, the Board of business prospects of PT Angkasa Pura I (Persero), Commissioners realized that the non-aeronautical despite the generally negative growth in aircraft, segment in the airports business is as important domestic air passenger and cargo movements in as the aeronautical segment. Currently, passengers 2019. On the other hand, the increase in international as airport service users are looking for comfort and air passenger and cargo movements by 7.55% for safety as well as a variety of facilities while traveling. the year also showed the good potential of the Therefore, the Board of Commissioners believes global air transportation industry. Moreover, the that the non-aeronautical business activities have Asia Pacific region is expected to contribute 42.8% considerable business prospects. Some of these to global growth of the air transportation industry. include room and hangar rental service, concession, parking facility, utilities, advertising service, event and lounge.

Views on the Implementation of Corporate Governance

Furthermore, the Board of Commissioners has a I (Persero)’s GCG score in 2019 was 91.58 in the positive view on the implementation of corporate category of “Very Good”. This score was higher governance at PT Angkasa Pura I (Persero). In 2019, than the GCG assessment score in the previous the Company appointed PT Sierra Bisnis Konsulting year of 91.34. While the GCG performance is highly to conduct a GCG assessment for performance in satisfying, the Board of Commissioners still hopes Financial Year of 2018. In general, the assessment that the Board of Directors will continue to maintain showed encouraging results. PT Angkasa Pura and improve the performance of GCG in the future.

Advisory Duty to the Board of Directors

In accordance with its duties and responsibilities, In 2019, the Board of Commissioners held 12 the Board of Commissioners is responsible for meetings with the Board of Directors. At least six supervising the Company’s administration. To that Board of Commissioners decrees and important end, the Board of Commissioners has provided recommendations for the Board of Directors advice and recommendations to the Board of were issued. Some of topics discussed included Directors regarding the operations of PT Angkasa the dismissal and appointment of the chairman Pura I (Persero) throughout 2019. The formal and members of the Audit Committee, as well as mechanism for providing advice was through adjustments to governance guidelines. The Board of meetings between the Board of Commissioners Commissioners highly appreciated the appropriate and the Board of Directors, which is conducted at follow-ups carried out by the Board of Directors on least once every month to discuss a predetermined the decrees and recommendations issued. agenda.

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Views on the Implementation/Management of Whistle-Blowing System

Implementation of the Whistle Blowing System mechanism that has been implemented at the (WBS) is an attempt of PT Angkasa Pura I (Persero) Company. Until the end of 2019, no complaints were to carry out good corporate governance effectively. received through the WBS that required following The Board of Commissioners appreciated the WBS up, as was the case for the last three years.

Changes in the Composition of Board of Commissioners

In 2019, the Main and Controlling Shareholder Djoko Sasono President Commissioner did not change the composition of the Board of Harry Z Soeratin Commissioner Commissioners of PT Angkasa Pura I (Persero). The Suprasetyo Commissioner composition of the Board of Commissioners per 31 Ali Mochtar Ngabalin Commissioner December 2019 is as follows: Tri Budi Satriyo Commissioner

Closing

On this occasion, the Board of Commissioners would We also convey our appreciation to passengers like express its highest appreciation to members of and users of aviation and airport services, as well the Board of Directors, management, employees as the wider community, the media and other and all business partners who have made stakeholders, for their tangible support to PT extraordinary contributions to the sustainability and Angkasa Pura I (Persero). Through good cooperation growth of PT Angkasa Pura I (Persero). In addition, and support from various parties, we hope that the we thank the Government, especially the Ministry Company’s efforts to strengthen its business and of State-Owned Enterprises as the Main and portfolio will continue to produce excellent results Controlling Shareholder for the direction and trust in the future. given to PT Angkasa Pura I (Persero).

Jakarta, 23 April 2020,

Djoko Sasono President Commissioner PT Angkasa Pura I (Persero)

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The Board of Directors’ Report

Dear Respected Readers of the Annual Report, In general, PT Angkasa Pura I (Persero) and its subsidiaries have successfully passed 2019 by posting a good performance. In the midst of various challenges and declining growth in the air transportation industry, the Company has continued to strive to become one of the best airport operators in Asia by strengthening its business and portfolio.

Faik Fahmi President Director

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Review of Political, Economic And Industry Conditions

In 2019, the global economy was still affected by the On the other hand, for the aviation industry sector trade war between the United States and China, 2019 was a challenging year, especially for the airport even though the strain was much lower than the industry sub-sector. The International Air Transport previous year. With respect to the macro economy, Association (IATA) recorded a slowdown in global air the exchange rate of the Rupiah against the US passenger growth compared to the previous year. Dollar (US$) was relatively stable throughout 2019, Several factors that affected the sector include the with the Bank Indonesia exchange rate closing at completion of land infrastructure projects as well Rp 13,970 per US$ per 31 December 2019. as the policies of national airlines on airfares and services, leading to a decline in domestic passenger On the domestic front, 2019 was a political year traffic. where Indonesia successfully held the general elections (Pemilu) without major incidents and with In 2019, traffic at airports managed by PT Angkasa a change in cabinet which took place in a safe and Pura I (Persero) was recorded at 81.5 million air controlled manner. The national economy managed passenger movements. This number decreased to record a growth of 5.02%, although experiencing by 15.64% compared to passenger movements in a lower growth than the previous year of 5.17%. 2018 of 96.6 million. However, despite this situation, Under these conditions, PT Angkasa Pura I (Persero) PT Angkasa Pura I (Persero) continuously strived to underwent a year of political and economic turmoil maintain airport service standards through airport that was more conducive than previously predicted. development and by creating service innovations.

Analysis of Corporate Performance

The consolidated financial performance of PT PT Angkasa Pura I (Persero) sought to increase Angkasa Pura I (Persero) and its subsidiaries in 2019 profitability, especially in non-aeronautical was very good, with total revenues of Rp 9.04 trillion. services. This was reflected in the increase in non- Overall, revenues from business activities increased aeronautical revenues by 7.28%, from Rp 3.4 trillion by Rp 110 billion or 1.3%, from Rp 8.52 trillion in 2018 in 2018 to Rp 3.7 trillion in 2019. These Efforts were to Rp 8.63 trillion in 2019. made to compensate for negative growth in aeronautical revenues by 3.9%, which was recorded to have decreased from Rp 5.1 trillion in 2018 to Rp 4.9 trillion in 2019.

Strategic Work Programs

The strategic programs of PT Angkasa Pura I existing opportunities. Through good financial (Persero) are designed to anticipate volatility in performance, the capacity to develop airports economic outlook and the aviation industry, as well will increase, thus bringing a corresponding as to identify existing problems and opportunities. impact on services. In 2019, PT Angkasa Pura The strategic programs consist of the following: I (Persero) managed financial risks due to 1. Building Strong Financial Performance reduced air traffic by maximizing on non- PT Angkasa Pura I (Persero) endeavored to aeronautical revenues. maintain financial performance by maximizing

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2. rapid International Airport Development and customer satisfaction. The achievement The construction and development of new of various awards in the service sector is a airports were carried out to expeditiously manifestation of the Company’s commitment resolve the lack of capacity problem. This also to provide the best and international standard aimed to anticipate potential passenger traffic facilities and services. growth in the future. Airport construction was 4. gaining National and International Recognition planned to be completed in a shorter time than As one of the best SOEs, PT Angkasa Pura I expected by taking into account the quality of (Persero) continues to develop international- facilities and other service aspects. class airports and strives to maintain 3. Improving Customer Service Excellence international standards in operational, security, Airports are no longer simply a place for boarding service and financial aspects. This is reflected in and alighting of passengers from airplanes, the various international standard awards and but also act as provider of prime services certifications received in 2019, including four for passengers. PT Angkasa Pura I (Persero) awards from the Airport Council International ensures service quality improvement through (ACI) for Sultan Aji Muhammad Sulaiman the application of technology (digitalization) Sepinggan Airport (SAMS) Balikpapan at the at its airports. Facilities such as the airport Airport Service Quality (ASQ) Awards 2018, and operation control center (AOCC) and auto “The Best Airport of The Year 2019” award for I handling system are operated by the Company Gusti Ngurah Rai Airport, Bali at the Airport with the aim of improving service efficiency Awards 2019 event.

Achievements of Targets and Constraints Faced

Overall, PT Angkasa Pura I (Persero) indicated good Several projects were completed in 2019, including financial performance although it cannot meet development of New Terminal of Syamsudin Noor the 2019 target. Despite the decline in profit, the Airport in Banjarmasin, and the construction of company’s revenue and assets have increased. the New Yogyakarta International Airport in Kulon This was because airlines have reduced their flight Progo. capacity in several domestic destinations and diverted their flight routes in 2019. As a result, the The completion of several airport projects in 2019 was passengers were affected because the reduced faster than the target. The Yogyakarta International number of flights caused an increase in airfares. Airport was completed in 20 months, faster than the target of two years. Further, development of In addition to reduction in passenger traffic, another the west side apron of I Gusti Ngurah Rai Airport constraint faced by the Company was the lack of in Bali was completed in six months, much faster capacity at ten airports. So far, passenger growth than estimated time of two years. The Government has exceeded the capacity of existing airports. PT appreciated the company’s performance on airport Angkasa Pura I (Persero) has strived to overcome development in a relatively short time with due this by increasing airport capacity through airport consideration to the quality aspect. development and the construction of new airports.

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Business Prospect

As an archipelago, air transportation is increasingly I (Persero) as a provider of airport services seeks needed to improve connectivity. The aspects of to accommodate the increase in passenger and connectivity and the Indonesian tourism sector are aircraft traffic by preparing to enhance airport expected to boost economic growth and continue capacity based on international airport standards. to be leading contributors to national income. The Indonesian government is developing ten priority In 2020, PT Angkasa Pura I (Persero) will roll out tourism destinations, three of which are in the innovations to grow its existing business portfolio. operational area of PT Angkasa Pura I (Persero), Innovations in expansion were undertaken not only namely Yogyakarta, and . This in the development of existing airports, but also in the is certainly an opportunity to increase company construction of new airports as well as the takeover revenue. of other airports. Synergies with subsidiaries will continue to be carried out to maximize financial In the long run, the growth of air passengers in performance. A hub and spoke strategy will be Indonesia is predicted to continue to increase implemented in relation to managed airports. until it can reach 11% annually. PT Angkasa Pura

Implementation of Good Corporate Governance

PT Angkasa Pura I (Persero) consistently applies National Committee on Governance Policy (KNKG), the principles of good corporate governance Indonesian Risk Management Professional (GCG) in accordance with prevailing regulations. Association (IRMAPA), Institute of Compliance These include Minister of State-Owned Enterprises Professional Indonesia (ICoPI), and Asia Business Regulation No. PER-01/MBU/2011 concerning Good Research. Corporate Governance and its amendment namely Minister of State-Owned Enterprises Regulation No. To improve the quality of corporate governance, PER-09/MBU/2012. In addition, as a company that PT Angkasa Pura I (Persero) implements GCG has issued bonds, the Company has implemented assessment. The GCG assessment is made based on GCG in accordance with Financial Services Authority the criteria or indicators set out in the Decree of the (OJK) Regulation No. 21/POJK.04/2015 concerning Secretary of the Ministry of State-Owned Enterprises Implementation of Limited Liability Companies No.SK-16/S.MBU/2012 dated June 6, 2012 concerning Governance Guidelines. Evaluation Indicators/Parameters of Good Corporate Governance Implementation in State-Owned In 2019, the Company’s commitment in Enterprises. The result of the assessment made in implementing GCG was appreciated through 2019 showed that the Company has succeeded in various awards, such as “The Most Committed enhancing the GCG implementation with a score GRC Leader 2019” for the President Director and of 91.58, indicating an increase in score from the “Top GRC 2019 #3 Stars” at the TOP GRC 2019. This previous year. event was organized by Top Business magazine,

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Changes in the Composition of Board of Directors

In 2019, the Main and Controlling Shareholders did not change the composition of the Board of Directors of PT Angkasa Pura I (Persero). The composition of the Board of Directors per 31 December 2019 is as follows: Faik Fahmi President Director Novrihandri Finance Director Devy Suradji Marketing and Services Director Wendo Asrul Rose Operations Director Lukman F. Laisa Technical Director Adi Nugroho Human Capital and General Affair Director Sardjono Jhony Tjitrokusumo Business Development Director

Closing

On this occasion, the Board of Directors would The good performance and cooperation like to express its appreciation to the employees with stakeholders will certainly be the main and partners of PT Angkasa Pura I (Persero) for foundation for the company’s growth in the their good performance and cooperation, so that future. The Board of Directors believes that PT the Company can achieve satisfactory results Angkasa Pura I (Persero) can continue to grow throughout 2019. The Board of Directors would and is committed to providing the best for air like to thank the Board of Commissioners and transportation users and other stakeholders, in the Government as the Main and Controlling order to encourage national economic growth. Shareholder, represented by the Ministry of SOEs, for their support and direction provided to the Directors of PT Angkasa Pura I (Persero).

Jakarta, 23 April 2020,

Faik Fahmi President Director PT Angkasa Pura I (Persero)

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PT Angkasa Pura I (Persero) is one of the 10 (ten) biggest airport management companies in Asia. and has successfully secured several world-class awards for the airports under its management.

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Brief Profile

Authorized Capital Rp12.000.000.000.000,- Company Name PT Angkasa Pura I (Persero) Paid Up Capital Rp6.414.412.000.000,-

Date of Bond Listing at the Indonesia Name Changes Stock Exchange • Perusahaan Negara (PN) November 23, 2016, in accordance Angkasa Pura Kemayoran, with Listing of PT Angkasa Pura I in 1962 (Persero) Bond I 2016 and Sukuk Ijarah • Perusahaan Negara (PN) I 2016 under Announcement No. Angkasa Pura, in 1965 Peng-P-00950 / BEI.PP2/11-2016 dated • Perusahaan Umum November 22, 2016. (Perum) Angkasa Pura I, in 1986 • Perseroan Terbatas (PT) Angkasa Pura I (Persero), in 1992

Bond Code Number of Employees APAI 3.374 persons

Business Field Date of 1. Airport Services Establishment 2. Airport-Related 15 November 1962 Services Office Network Data Subsidiaries 1 Head Office PT Angkasa Pura Hotel 14 Managed Airports PT Angkasa Pura Logistik 4 Project Offices PT Angkasa Pura Properti 5 Subsidiaries PT Angkasa Pura Retail PT Angkasa Pura Support

Basis of Status and Establishment Ownership Ownership Government State-Owned 100% owned by the Regulation No. 5 Enterprise, 100% Republic of Indonesia of 1992 owned by the Republic of Indonesia

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Information Kantor Pusat Corporate Secretary Kota Baru Bandar Kota Baru Bandar Kemayoran Blok B 12 Kav. 2 Kemayoran, Blok B 12 Kav. 2 Jakarta, 10610 Jakarta, 10610

Telp : 62-21 6541961 Telepon : 62-21 6541961 Faks : 62-21 6541513, 6541514 Faksimili : 62-21 6541513, 6541514 Email : [email protected] Email : [email protected] Website : www.ap1.co.id Twitter : @AP_airports Instagram : @AP_airports Website Facebook : Angkasa Pura Airports www.ap1.co.id Youtube : www.youtube.com/angkasapuraairports

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Company Brand

The line “Angkasa Pura” is freshly displayed along with the word “Airports” to highlight the line of business and the main excellence of PT Angkasa Pura I (Persero). The color green signifies grounded, rooted, growing, and long-lasting business combined with the color blue which symbolizes the sky or space. These two different colors are harmoniously combined to convey an important message on the sky-high ideals which correspond to the synergy of grounded, rooted, growing and long-lasting concepts and works.

The symbol and element of “give and take” The symbol of two inter-locking elements imply that: take is the result of a logical reflect the safety and security concept which consequence and give is the basic principles is the most important factor in the Airport of honor in serving and professionalism in the Business. sense of “together stronger”.

The symbol with its aerodynamics angle The symbol also implies a “smile” which rising up to the right represents the symbolizes the hospitality and humane willingness and spirit of progressive service which is the pride of the Company transformation for the company’s growth.

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A Brief History of the Company based on PP No. 21 tahun 1965, PN Angkasa Pura “ Kemayoran changed its name to Perusahaan “ Negara (PN) Angkasa Pura since 17 May 1965.

PT Angkasa Pura I (Persero), hereinafter referred In 1985, Kemayoran International Airport was to as the Company, is the pioneer of commercial declared to stop operating and Soekarno- airport business in Indonesia. The brief history of Hatta Airport, which at the time was known as the Company began with the establishment of a Cengkareng Airport (CGK), replaced the role of state enterprise Perusahaan Negara (PN) Angkasa as the international gateway Pura Kemayoran on February 20, 1962 based to Indonesia. This happened simultaneously with on the Government Regulation No. 33 of 1962. the establishment of Perum Angkasa Pura II in At that time, Its main task was to manage and charge of the management of Soekarno-Hatta operate Kemayoran Airport in Jakarta, which was International Airport and Kemayoran Airport. the first international airport in Indonesia. Then, A year later, Perum Angkasa Pura changed its PN Angkasa Pura Kemayoran officially took over name to Perum Angkasa Pura I based on the the whole assets and operations of Kemayoran Government Regulation No. 25 of 1986. Airport in from the Ministry of Air Transportation on February 20, 1964, which was then determined In 1992, based on the Government Regulation as the date of establishment of the Company. No. 5 of 1992 and pursuant to the deed drawn up by Notary Muhani Salim, S.H. dated January On May 17, 1965, based on the Government 3, 1993, the Company’s status as Perum Angkasa Regulation No. 21 of 1965, PN Angkasa Pura Pura I was changed to “Perusahaan Terbatas (PT)” Kemayoran changed its name to Perusahaan (public company) whose all shares are owned by Negara (PN) Angkasa Pura. Along with the the Republic of Indonesia. The name change to name change, PN Angkasa Pura expanded its PT Angkasa Pura I (Persero) was approved by the operational activities to manage other airports Minister of Justice on April 24, 1993 as stipulated in major Indonesian cities such as , in the Decree No. C2-470.HT.01.01 of 1993 and , Surabaya, Balikpapan, and Ujung announced in the State Gazette of the Republic Pandang. Furthermore, based on the Government of Indonesia Number 52 dated June 29, 1993 with Regulation No. 37 of 1974, the legal entity status of Supplement to the State Gazette of the Republic the Company was changed to a Public Company of Indonesia Number 2914/1993. After that, the (Perum). company has never made any changes and remains using the name of PT Angkasa Pura I (Persero).

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After changing its status into a limited liability o Issued and paid up capital amounting to company, AP I experienced several changes to the Rp 3,188,245,000,000 or 3,188,245 shares, deed and Articles of Association, including: by adding to the Republic of Indonesia’s 1. Amendment in 2012, based on Statement Capital Investment amounting to of Meeting Resolution and Shareholders’ Rp 1,388,244,029 in accordance with Resolution taken outside the meeting of PT Government Regulation No. 76 of 2011 and Angkasa Pura I (Persero), as set forth in Deed from a capital reserve of Rp 971 No. 5 of Notary Utiek R. Abdulrachman, S.H., MLI., MKn, and receiving approval from the 2. Amendment in 2013, based on Deed No. 02 Ministry of Law and Human Rights of the dated January 16, 2013 of Notary Nanda Fauz Republic of Indonesia under No. AHU-46777. lwan, S.H., M.Kn which has been stored in the AH.01.02 of 2012 dated September 3, 2012, Legal Entity Administration System database concerning: of the Ministry of Law and Human Rights o Increase in authorized capital to of the Republic of Indonesia under Decree Rp 12,000,000,000,000 divided into No. AHU-.AH. 01.10-02672 on January 31, 2013, 12,000,000 shares, with par value of Rp concerning: 1,000,000 (full amount) per share

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o Increase in paid up capital taken from the o Increase in issued and paid up capital of capitalization of part of the Company’s Rp 6,614,412,000,000 or 6,414,412 shares, reserves up to Financial Year 2011 of by adding to the Republic of Indonesia’s 300,000 shares with par value of Rp capital investment amounting to 1,000,000 (full amount), thus amounting Rp 2,926,166,060 in accordance with to Rp 300,000,000,000 from the portion Government Regulation No. 8 of 2014 and of the Republic of Indonesia, so that the from a capital reserve of Rp 940 issued and paid up capital amounted to Rp 3,488,245,000,000 As the pioneering company engaged in the commercial airport sector in Indonesia, PT Angkasa 3. Amendment in 2015, namely changes to the Pura I (Persero) is entrusted by the Government of Company’s Articles of Association as stated in Indonesia to manage airports in various provinces Deed No. 11 dated 22 September 2015 of Notary in the Central and Eastern regions of Indonesia. As Julius Purnawan, S.H., MSi, and approved of December 31, 2019, 14 airports, 4 project offices by the Ministry of Law and Human Rights of and 5 subsidiaries were being managed and the Republic of Indonesia under Decree No. supervised by the Company. AHU.AH. 01.03- 0972301 on October 15, 2015, concerning:

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Milestones

1962 1965 1964 15 November 1962 17 May 1965 20 February 1964 The Indonesian Government Based on the Government issues Government The date February 20, 1964 was Regulation No. 21 of 1965 Regulation (GR) No. 33 of 1962 then determined as the date of concerning Amendment concerning Establishment establishment of the Company, and Addendum to of Perusahaan Negara (PN) PN Angkasa Pura Kemayoran Government Regulation Angkasa Pura Kemayoran, officially took over the whole No. 33 of 1962, PN Angkasa its main task was to manage assets and operations of Pura Kemayoran changes Kemayoran Airport in Jakarta, Kemayoran International Airport its name to Perusahaan which was the first and in Jakarta from the Ministry Negara (PN) Angkasa Pura only international airport in of Air Transportation of the with a view to opening up Indonesia. Republic of Indonesia. opportunities to manage other airports in Indonesia.

2014 2015

18 May 2015 14 February 2014 2013 Groundbreaking of Operation of the Terminal 2 in Juanda 2 January 2013 Syamsudin Noor Airport, International Airport, Surabaya. Phase I Implementation of the Banjarmasin. Enterprise Resource Planning (ERP) 22 March 2014 Project. 17 August 2015 Operation of the new terminal in Sepinggan Operation of the Terminal International Airport, Balikpapan. 4 January 2013 B in Adi Sutjipto Airport, Establishment of Strategic Business Yogyakarta. 17 June 2014 Unit (SBU) Commercial in Ngurah Groundbreaking for development of Ahmad Rai in accordance with Board 13 December 2015 Yani International Airport, Semarang. of Directors Decree No. KEP.02/ Operation of the Special OM.01.01/2013. Terminal for Umrah Pilgrims 15 September 2014 in Juanda Airport, Surabaya. Inauguration of Sultan Aji Muhammad 6 January 2013 Sulaiman Sepinggan International Airport, Transfer of navigation-related Balikpapan and Terminal 2 Juanda management duties to the Public International Airport, Surabaya by the Company Providing Air Navigation President of the Republic of Indonesia. Services in Indonesia (Perum- LPPNPI) based on the Government 17 September 2014 Regulation No. 77 of 2012. Operation of the new domestic terminal in I Gusti Ngurah Rai International Airport, Bali. 7 April 2013 Re-operation of 19 December 2014 for aviation school. Inauguration of I Gusti Ngurah Rai International Airport Denpasar, Bali by the 12 September 2013 Minister of Transportation of the Republic of Operations of the new international Indonesia. terminal in I Gusti Ngurah Rai International Airport Denpasar, Bali.

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1974 1992 1986 24 October 1974 4 February 1992 19 May 1986 Based on the Government Based on the Government Regulation No. 37 of 1974, Perum Angkasa Pura changed its Regulation No. 5 of 1992, the legal entity status of name to Perum Angkasa Pura I, the Company’s status as a the Company was changed which happened simultaneously “Perusahaan Umum (Perum)” to a Public Company with the establishment of (public company) was changed (Perum). Perum Angkasa Pura II. Perum to “Perusahaan Terbatas (PT)” Angkasa Pura I is in charge of (Limited Liability Company) the management of airports in whose all shares are owned by Eastern Indonesia, while Perum the Republic of Indonesia Angkasa Pura II is in charge of the management of airports in Western Indonesia.

2012 2008 6 January 2012 2011 Establishment of Angkasa Pura 22 September 2008 Hotels, Angkasa Pura Property, Inauguration of Sultan Hasanuddin and Angkasa Pura Logistics as 20 October 2011 Airport by the President of the subsidiaries of PT Angkasa Pura I Inauguration of Lombok Republic of Indonesia. (Persero). International Airport (BIL) by the President of the Republic of 9 February 2012 Indonesia. Establishment of the subsidiary of Angkasa Pura Supports. 1 December 2011 Groundbreaking of Terminal 2 (T2) 20 February 2012 development project at Juanda PT Angkasa Pura I (Persero) Airport, Surabaya. launched its corporate identity through vision, mission, values, 30 December 2011 hymn, and uniforms . PT Angkasa Pura I (Persero) officially launched its new logo as a corporate identity.

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2016 2017

23 November 2016 27 January 2017 Issuance of PT Angkasa Pura I Bond I 2016 and PT Groundbreaking of construction of the Yogyakarta Angkasa Pura I Sukuk Ijarah I 2016. International Airport in Kulonprogo by the Indonesian President.

08 April 2017 Groundbreaking of the construction of the Adi Soemarmo Airport Railway in Boyolali, Central by the President of the Republic of Indonesia.

2018 2019 11 February 2018 Topping off ceremony of the new terminal in Ahmad 6 May 2019 Yani International Airport, Semarang, . Yogyakarta International Airport in Kulon Progo commenced operations. 07 June 2018 Inauguration of the new terminal in Ahmad Yani 18 December 2019 International Airport, Semarang by the President of Inauguration of new Terminal in Banjarmasin the Republic of Indonesia. Syamsuddin Noor Airport by the President of the Republic of Indonesia.

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2019 Significant Events

15 March 2019 19 March 2019 Signing of cooperation agreement between AP1 & BKIPM Signing of cooperation agreement between AP1 and and KKP. PNM 2019.

22 March 2019 26 April 2019 Signing of cooperation on use of assets between AP1 & Yogyakarta International Airport Certificate from DJUB. (TNI AU) in Bali.

10 April 2019 Inauguration of Baitussalam Mosque at Jenderal Ahmad Yani Airport in Semarang.

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6 May 2019 Maiden commercial flight to Yogyakarta International Airport in Kulon Progo

3 May 2019 15 July 2019 Signing of memorandum of understanding, cooperation Dissemination of Fraud Control Plan & signing of MOU agreement & launching of JRKU application. 2019.

6 August 2019 10 AP1 airports were accredited with the ACI’s customer experience accreditation program.

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( )

14 August 2019 16 August 2019 Signing of MOU between AP1 and IIAC. AP1 maintained Pefindo’s triple A rating for the period of 12 August 2019-1 August 2020.

3 September 2019 04 September 2019 PT Angkasa Pura I (Persero) hosted the International Airports Inauguration of X-Ray Automated Tray Return System Council (ACI) Customer Experience Global Summit 2019 in (X-Ray ATRS), boarding pass scanner (flap barrier) and Bali. passport autogate at I Gusti Ngurah Rai Bali Airport.

26 September 2019 8 Oktober 2019 Signing of MOU between AP1 and Bank Mandiri. Signing of MOU between AP1 and Kajari.

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13 October 2019 21 October 2019 Signing of Utilization Cooperation (KSP) of Sentani Inauguration of the first multisensory room at Ahmad airport between AP1 and DGCA. Yani Airport in Semarang. This facility is provided for children with special needs, especially autism.

13 November 2019 10 December 2019 Signing of a Joint Agreement with the Transportation Operation of New Terminal at Syamsudin Noor Research and Development Agency, Ministry of Banjarmasin Airport. Transportation to explore opportunities for research and development cooperation in the airport sector.

18 December 2019 29 December 2019 Inauguration of New Terminal at Syamsudin Noor Soft Launch of Adi Soemarmo Airport Railway by Banjarmasin Airport by the President of the Republic of Minister of Transportation, . Indonesia, .

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Vision, Mission, and Corporate Culture

PT Angkasa Pura I (Persero) has vision and mission In addition to its vision and mission, PT Angkasa statements to provide the direction and objectives Pura I (Persero) has also set a corporate culture from for the management in managing the company. the transformation and restructuring process of the The Company’s vision and mission also help to company carried out by the Transformation Team identify its current core competencies and matters based on the Board of Directors Decree Number that need to be developed in the future. SKEP.27 / LB.01 / 2011 concerning the Formation of the Transformation Team of PT Angkasa Pura I The vision and mission of PT Angkasa Pura I (Persero) (Persero). The corporate culture is the values that is contained in the Company’s Long-Term Plan guide all Company personnels to do their best in (RJPP) 2019-2023 that has been jointly discussed, realizing the Company’s vision and mission. PT reviewed and approved by the Board of Directors Angkasa Pura (Persero) has set corporate values and Board of Commissioners on October 26, 2019 in of “SATU”, which stands for Sinergis (Synergistic), Yogyakarta. Further, the RJPP was submitted to the Adaptif (Adaptive), Terpercaya (Trustworthy), and Ministry of State-Owned Enterprises on October 31, Unggul (Unparalleled). 2019 to be ratified by the Minister of State-Owned Enterprises (SOEs) as the Main and Controlling Further, in order to easily comprehend the vision, Shareholder in accordance with the provisions of mission and corporate culture for the Company’s Minister of State-Owned Enterprises Decree No. personnels, PT Angkasa Pura I (Persero) set the KEP-102/MBU/2002 dated June 4, 2002 concerning motto or tagline “Go Beyond”. In 2019, PT Angkasa Arranging of the Company’s Long-Term Plan. Pura I (Persero) disseminated the company’s vision and mission and culture through website, videos, remarks, meetings, banners, and so on.

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Vision “Connecting The World Beyond Airport Operator With Indonesian Experience.”

1. Providing global-scale services that ensure safety, security and comfort standards Mission 2. Improving values for stakeholders; 3. Becoming a government partner in boosting economic growth 4. Improving the company’s competitive edge with creativity and innovation 5. Providing quality airport services that meet stakeholder expectations through excellent human resource management 6. Contributing positively to environmental sustainability

Corporate Culture

Synergistic Adaptive Trustworthy Unparalled Respect the diversity Readiness of the Have integrity and Enthusiastic in increasing heart, mind, and honesty in carrying in learning added value and enthusiasm in out their duties. and increasing contribution to the facing changes competitiveness company. for the company’s for the company’s improvement. improvement.

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Business Activities

Business Activities According to the Articles of Association

Based on Article 3 of the last amendment to the on January 16, 2013 based on Memorandum of Articles of Association as stated in Deed No. 55 of Understanding No. HK.201/1/10/DRJU-2013; KEP.15/ 2019, the main business activity or business line of OM.02.03/2013; MOU.04.07.01/00/02/2013/001; 032/ PT Angkasa Pura I (Persero) is to provide airport DU/II/2013 dated February 12, 2013. services, airport-related services and other related businesses in accordance with the principles of a If necessary, The Company may establish other limited liability company. The business activities companies or subsidiaries related to the business carried out by PT Angkasa Pura I (Persero) aim to activities, either independently or in cooperation generate profits in order to support Government with other agencies, as long as it is in line policies and programs in the fields of economy with applicable laws and regulations and is in and development. accordance with the Articles of Association.

The Company’s business line is limited by the As of 31 December 2019, all business activities or Government Regulation No. 77 of 2012 concerning business lines in accordance with the Articles of Air Navigation Indonesia (LPPNPI) that regulates Association were carried out by PT Angkasa Pura I that aviation services are not managed by PT (Persero), as explained in detail below: Angkasa Pura I (Persero). The regulation took effect

Non-ATS Aeronautics (Airport-Related)

1 Provision, enterprise, and facility development for landing, aircraft take off, parking and hangar services

2 Provision of Counter Check-in, Garbarata (Aviobridge), Baggage Handling System (BHS)/ Hold Baggage Screening (HBS).

3 Provision, enterprise, and terminal facility development for passenger, cargo and postal transportation services.

Non-aeronautics (Non-Airport)

1 Provision of land for development, field, and industrial area, and also building/structure to ensure smooth air traffic.

2 Provision, enterprise, and facility development for electronics, electricity, water and waste treatment.

3 Provision of consultation, education and training services related to airport.

4 Other businesses that support the goal of the Company.

Business Segments

There are 2 (two) market segments for PT Angkasa Pura I (Persero), namely: • Service product segment provided to companies, especially Air Transport Agency and Business Partner • Service product segment provided directly for consumers, especially aircraft passengers and their relatives.

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Products and Services of PT Angkasa Pura I (Persero) are given in details as follows:

1. Aircraft Landing, Parking and Hanggar Services (PJP4U) the product of Aircraft Landing is provided for aircraft landing on the airport. PJP4U is also provided for parking aircraft in the open areas of the airport and for parking aircraft in the hangars.

2. Air Passenger Services (PJP2U) Aircraft Passenger Services are provided for every passenger at both departure and arrival terminals of airports.

3. garbarata (Aviobridge) Garbarata (Aviobridge) Usage Service is provided for every air transport agency/airline/aircraft operator both on departure or arrival of passengers.

4. Check-In Counter Counter Check-in Service is provided for airlines or aircraft operators for their use of airport facilities, specifically related to passenger check-in process.

5. Baggage Handling System (BHS)/Hold Baggage Screening (HBS) this is a service provided to airlines or aircraft operators for thier use of the Baggage Handling System facility, which is a conveyor system used to transport luggage after screening and check-in for departing passengers. The luggage is then brought to the baggage make up area to be transported by a plane, while for arriving passengers, the opposite applies. the luggage is taken to the baggage claim area. In addition, this service provides Hold Baggage Screening facilities, a system of baggage screening using x-ray machines which is directly integrated with the Baggage Handling System.

6. Concession for Airport Facility Usage Services Concesssion is the service provided for the right of using airport facilities by third parties concernig their activities carried out in the airport. Concession is given for companies carrying out activities in the airports, such as Air Cargo Expedition, Regulated Agent (RA), Ground Handling, and In-Flight Catering.

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Operational Areas

As of end-2019, PT Angkasa Pura I (Persero) managed 14 (fourteen) airports, 5 (five) subsidiaries, and 4 (four) development projects spreading across major cities in the Western, Central and Eastern part of Indonesia, as follows:

Head Office

Airports: Development Projects: (1) I Gusti Ngurah Rai Airport – Bali (1) Yogyakarta International Airport (2) Juanda Airport – Surabaya Development Project, Yogyakarta (3) Sultan Hasanuddin Airport – Makassar (2) Jenderal Ahmad Yani Airport (4) Sultan Aji Muhammad Sulaiman Sepinggan Airport – Development Project, Semarang Balikpapan (3) Syamsudin Noor Airport (5) Airport – Biak Development Project, Banjarmasin (6) Airport – Manado (4) Sultan Hasanuddin Airport (7) Syamsudin Noor Airport – Banjarmasin Development Project, Makassar (8) Ahmad Yani Airport – Semarang (9) Adisutjipto Airport – Yogyakarta Subsidiaries: (10) Adi Soemarmo Airport – (1) PT Angkasa Pura Logistik (11) Central Lombok International Airport – Lombok (2) PT Angkasa Pura Properti (12) Airport – Ambon (3) PT Angkasa Pura Support (13) El Tari Airport – (4) PT Angkasa Pura Hotel (14) Yogyakarta International Airport – Yogyakarta (5) PT Angkasa Pura Retail

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Office Networks of PT Angkasa Pura I (Persero) for the Last Three Years

Type of Office 2019 2018 2017

Head Office 1 1 1

Branch Office/Airport 14 13 13

TOTAL 15 14 14

Map of Office Networks, Airports and Projects of PT Angkasa Pura I (Persero) by Region in 2019

Office Type Location Head Office Branch Office Project

Head Office, Jakarta 1 - -

I Gusti Ngurah Rai, Denpasar - 1 -

Juanda, Surabaya - 1 -

Sultan Aji Muhammad Sulaiman Sepinggan, Balikpapan - 1 -

Sultan Hasanuddin, Makassar - 1 -

Adisutjipto, Yogyakarta - 1 -

Syamsudin Noor, Banjarmasin - 1 -

Jenderal Ahmad Yani, Semarang - 1 -

Sam Ratulangi, Manado - 1 -

Adi Soemarmo, Surakarta - 1 -

Internasional Lombok, Lombok Tengah - 1 -

Pattimura, Ambon - 1 -

El Tari, Kupang - 1 -

Frans Kaisiepo, Biak - 1 -

Bandara Internasional Yogyakarta - 1 -

Jenderal Ahmad Yani Airport Semarang Development - - 1 Project

Yogyakarta Airport Development Project - - 1

Syamsudin Noor Airport Banjarmasin Development - - 1 Project

Sultan Hasanuddin Airport Makassar Development - - 1 Project

TOTAL 1 14 4

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Security and Safety

In line with its vision to become a world-class airport 31000). In addition, PT Angkasa Pura I (Persero) has operator, PT Angkasa Pura I (Persero) conducts initiated a program to improve the quality of airport its business operations by prioritizing safety and management systems by inviting world-leading security of aviation services and airport users. In practitioners through the Airport Excellence (APEX) this regard, the Company implements Safety, in Safety and Airport Excellence (APEX) in Security Security, and Service through Compliance (3S1C) programs. in accordance with Law No. 1 of 2009 concerning Aviation. The current implementation of 3S1C was carried out beyond regulation. PT Angkasa Pura I (Persero) Besides its policy on safety and security as mentioned implemented 3S1C in a comprehensive manner above, PT Angkasa Pura I (Persero) has received starting from the gateway and parking lot to various certifications that support the safety, public areas in the airport, and involved several security and comfort of service users. These include management functions with the following duties environment (ISO 14001:2015), quality management and functions: (ISO 9001:2015), occupational health and safety (OHSAS 18001:2007), and risk management (ISO

Risk Management and Corporate Planning is tasked to ensure that the business processes of PT Angkasa Pura I (Persero) run with an acceptable level of risk through the risk management process. This function ensures Risk formulation of the corporate strategic plan through business analysis and Management review, monitoring, and performance evaluation of PT Angkasa Pura I and Corporate (Persero) to support the achievement of its work targets in accordance with Planning the Company Work Plan and Budget (RKAP).

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Airport Engineering Group is responsible to ensure the availability of data related to airport statistics, airport master plan, and environment through business analysis and studies to support the achievement of the Company strategy in accordance with the policies and regulations set by the regulator, Airport and ensure compliance with the prevailing laws and regulations as well as Engineering internal regulations. Group

Airport Security Group is responsible to ensure the effectiveness of airport security services through programs to improve the quality and reliability of human resources in order to support the achievement of high Customer Satisfaction Index (CSI) scores at all airports in accordance with national and Airport international standards. Security group

Airport Safety Group is responsible to ensure the achievement of a specific safety level and service quality through safety management system, occupational health and safety, and effective quality management in order Airport to support the achievement of high Customer Satisfaction Index (CSl) scores. Safety Group

Airport Services Group is tasked to ensure effective airport services and hospitality by improving the quality and reliability of human resources in order to support the improvement of service and quality assurance, as well as the achievement of high Customer Satisfaction Index (CSI) scores at all Airport airports in accordance with national and international standards. Services Group

Airport Facilities Readiness Group is tasked to ensure that all airport facilities including air side, land side, landscape and terminal buildings managed by PT Angkasa Pura I (Persero) are ready for use and support achievement of a Airport Facilities high Customer Satisfaction Index (CSI) scores. Readiness Group

Airport Equipment Readiness is responsible to ensure operational readiness for all airport equipment managed by PT Angkasa Pura I (Persero), as well as supporting tools to achieve a high Customer Satisfaction Index (CSl) scores. Airport Equipment Readiness

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The Company’s performance in implementing the Company achieved an average score of above 3S1C can be seen from the achiement of Airport 4 based on the Customer Satisfaction Index (CSI) Service Quality (ASQ) scores with an average of assessed by the Indonesia National Air Carriers above 4.5 at 4 (four) airports (2018), as assessed by Association (INACA) on thirteen airports in 2019. Airports Council International (ACI). In addition,

Achievement Indicator 2019 2018 2017

Airport Service Quality (ASQ) 4.48 4.55 4.62

Corporate Satisfaction Index (CSI) 4.53 4.40 4.25

PT Angkasa Pura I (Persero) did not experience result of hard work put in by its personnel synergized significant incidents, work accidents, code of in enforcing the safety, security and comfort conduct violations, or other violations throughout policies for service users in the implementation of 2019. The Company has successfully managed to business activities and operations. realize a “zero accident” condition since 2017, as the

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Service Excellence

PT Angkasa Pura I (Persero) is committed to (ICT) as summarized in its information technology providing excellence international airport services. strategy. The following explanation describes the In this regard, the Company has developed a world- Company’s information technology strategy. class Information and Communications Technology

Operation Excellence Strategy

Operation Excellence Strategy is a strategy to strengthen communication technology to support reliable business process through the application of: a. Airport Operation Control Center (AOCC) aims to obtain acceleration of coordination on the operational side between stakeholders at the airport. In addition, to support the implementation of the strategy, PT Angkasa Pura I (Persero) has planned the Airport Operation Control System (AOCS) technology solution to obtain the AOCS technology standard and implementation strategy. b. SATU Application Program for Achievement since 2017, where this program is a digital-based Office Collaboration Platform (OCP) automation service, Electronic Document Copywriting (TNDE), AP1 e-Learning (APel), website-based Knowledge Management System (KMS) and mobile apps for increasing work productivity, knowledge and competence of all personnel of PT Angkasa Pura I (Persero). c. Under Vehicle Surveillance System (UVVS) at 4 airports namely Juanda International Airport-Surabaya, Jenderal Ahmad Yani Airport-Semarang, SAMS Sepinggan Airport- Balikpapan and Syamsudin Noor Airport-Banjarmasin aims to improve the security of airport areas that work together with the Airport Security function with the ability to detect or scan cars or vehicles passing in the airport area which is deemed necessary to be sterilized from hazardous materials .

Revenue Safeguarding Strategy

This strategy is an effort to use information and communication technology to support revenue safeguarding. The application of this strategy includes the utilization of ICT related to services such as: a. Passenger Service Charge on Ticket System (POTS) is a tool for the Aeronautical function in obtaining information on passengers who have paid Passenger Service Charge (PSC)/paying pax services. b. Operational and Commercial Information System (SIOPSKOM) a tool for the Airport Operation and Aeronautical functions in recording and issuing billing for resource use (garbarata, parking stands, unscheduled flights) by airlines and ground handling. c. Parking system (vehicle parking system) is a tool in monitoring and managing vehicle parking transaction data. d. Point of Sales System (POSS) in all airports is a tool that functions to monitor and manage airport tenant sales transaction data (retail, food & beverage, etc.).

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Enterprise Management Service Fulfillment Strategy

This strategy is carried out by PT Angkasa Pura I (Persero) to make decisions for management in obtaining quality information by implementing: a. Ease of planning, presenting and monitoring company budgets by implementing SAP BPC-Planning development. b. Ease of consolidating financial statements between parent and subsidiary with the implementation of SAP BPC-Consolidation c. Ease of Human Capital data management between parent and subsidiary through the application of ERP Multi-Company. d. Ease of enterprise risk management through the development of a web-based risk management system (i-Risk).

Customer Experience Strategy

This strategy is an effort to utilize information and communication technology to provide optimal services to increase service user satisfaction through the application of: a. Angkasa Pura Airport Mobile Apps to provide airport information, flight information, airport parking, travel information, hotel information, transportation, shop & dine (can be downloaded via Apple App Store and Play Store). b. Angkasa Pura 172 Contact Center services that can be accessed via telephone, SMS, email, website and social media to increase the ability to capture information and customer needs in personalization and provide facilities. c. Free Wi-Fi service with bandwidth up to 100 MB per access point, as part of the Company’s strategy to implement a smart airport and improve airport customer satisfaction index (CSI). d. X-Ray Smartlane and BCM Counter & Autogate Machine for Immigration Screening at I Gusti Ngurah Rai International Airport, aimed to improve (customer satisfaction index / CSI) so as to reduce queuing time, speed up screening of passengers’ goods and speed up the immigration service process (with due regard to security and legal aspects of the country).

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Strengthening ICT Foundation Strategy

The strategy to strengthen the ICT foundation is an effort to increase the capacity adequacy and guarantee the security of infrastructure, starting at the level of facilities, hardware and communication networks through the application of: a. Standardization of ICT infrastructure (LAN, WAN, Communication, Wi-Fi, and Server), b. Development of re-engineering infrastructure (phase I) of an integrated and secure data communication network as the company’s service backbone. c. Voice-over-IP PBX technology integrated with all PT Angkasa Pura I (Persero) branch offices to increase the cost efficiency of inter-branch telephone communication.

Strategy for Improving ICT Governance Performance

Strategies for improving ICT governance performance are benchmarks that can be used by companies in assessing the quality and effectiveness of corporate information technology through the application of: a. Compilation of IT policies (Board of Directors Decree No.: KEP.205 / OM.02.04 / 2018 concerning Information Technology Governance of PT Angkasa Pura I (Persero) which is a corporate information technology policy based on Cobit’s best practice framework. b. Revised Quality Procedure & IT Governance Policy. c. Implementation of Information Technology Governance (Maturity Level) periodically. d. Implementation of Information Technology Security Assessment (including Security Testing) to obtain a strategy in the form of appropriate action plan and in line with the company’s needs in the management of cyberspace and fulfillment of compliance with the Minister of Transportation Regulation No. 80 of 2017 and the Minister of Communication and Information Regulation No. 04 of 2016.

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Innovation and Entrepreneurship

Innovations in Operations and Airport Services

In order to improve the quality of airport products Holding Room is available at six airports and services and optimize the effectiveness and managed by PT Angkasa Pura I (Persero), efficiency of business processes, PT Angkasa Pura namely: I (Persero) has carried out various innovations, as • I Gustri Ngurah Rai International Airport- follows: Denpasar 1. multisensory Room • Yogyakarta International Airport Multisensory Room is a waiting room for • Adi Soemarno International Airport-Solo passengers with autism spectrum disorder. • Jenderal Ahmad Yani International This facility provides a sense of security and Airport-Semarang comfort for passengers while waiting for • SAMS Sepinggan Airport-Balikpapan boarding time. Multisensory room as the • Syamsudin Noor International Airport- first multisensory service in Asia Pacific Banjarmasin was inaugurated on October 21, 2019 at the terminal of Jenderal Ahmad Yani International The Special Needs Services Holding Room is Airport in Semarang. similar to the multisensory room. This facility is specifically designed for passengers with This facility was designed to stimulate various disability and special needs with expectations senses through mattresses installed on the of providing sense of calm and comfort floor and walls, instrumental music, gym while waiting for the check-in process and/ balls, and colorful LED lights. This room is or boarding time. The room is equipped with specifically designed to provide soothing chairs, tables, bean bags and mattresses. stimuli, overcome tension, and reduce temper tantrums for children with autism. The room The availability of this facility is expected to has two functions by turning it into a white increase comfort of airport service users with and a black room. White room is useful for special needs and add value to services for creating a sense of security, relaxation, and business partners and airport managers. giving a comfortable sensation to children with autism. While the black room is useful to 3. Guidelines facilitate the understanding of children with Following up on the development of autism about the surrounding environment multisensory rooms and special needs and understand of causal relationships. services holding room, the Airport Services & Hospitality unit has published several online 2. Special Needs Services Holding Room guidelines, namely: Special Needs Services Holding Room is a waiting room provided for passengers with special needs in the terminal check-in area. This facility was inaugurated on October 21, 2019 at Jenderal Ahmad Yani International Airport, Semarang. The Special Needs Services

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a. Guidelines for Special Needs Services for Office to airport personnels in the work Children with Autism at the Airport, area of PT Angkasa Pura I (Persero). This was b. Guidelines for Special Needs Services at conducted to develop the competence and the Airport, and capacity of personnels in providing services to c. Guidelines for Passenger Experience at PT service users, especially to those with special Angkasa Pura I (Persero) Airports. needs.

Ratification of the guidelines coincided with 4. live Chat the inauguration of the multisensory room Live Chat is an online and live messaging and SNS Holding Room which was held at service using an automatic feature connected Jenderal Ahmad Yani International Airport in directly to the airport officials. Currently, Semarang and designated for the following consumers can easily interact with service uses: providers. The objective of using the live chat a. Guidelines for Special Need Services for service is as follows: Children with Autism is addressed to a. To improve Voice of the Customer services; airport officials, and b. To increase service user satisfaction; and b. Guidelines for Passenger Experiences at c. To facilitate users in communicating with PT Angkasa Pura I (Persero) Airports is service providers in real time. addressed to airport service users that can be accessed via the website ap1.co.id

Information dissemination and technical assistance on the guidelines have been performed online and directly at the Head

Live Chat facility can be accessed through the website www.ap1.co.id and websites in the work area of PT Angkasa Pura I (Persero).

Flow chart graphics of Live Chat service

Yes

Website Has Solution No Related Unit Assistance

Automatic CCO Yes Greeting

Mobile Application

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5. lost and Found System 7. Boarding Pass Scanner (Flap Barrier) Lost and Found System is a service provided There are currently 12 boarding pass scanners to improve services and satisfaction of airport (Flap Barrier) located at the international service users with the following objectives: departure terminal of I Gusti Ngurah Rai a. To facilitate service users in sharing their Airport, Bali. This facility aims to facilitate voice of customer related to lost and/or passengers in scanning their boarding pass found items at the airport; automatically without having to queue at b. To facilitate service users in finding out the manual scanning site. This facility can be information on lost and/or found items at used by passengers carrying printed or mobile the airport; boarding passes. c. To improve performance and integration of Voice of Customer reporting, specifically reporting on lost and/or found items at the airport.

This service is provided in collaboration with the Airport Security and Information Technology unit as the system/application provider.

6. X-ray Automated Tray Return System (X-ray ATRS) PT Angkasa Pura I (Persero) inaugurated the X-ray Automated Tray Return System (X-ray ATRS) on 5 September 2019 at I Gusti Ngurah Rai Airport, Bali. ATRS X-ray is a passenger and baggage inspection system with the latest scanning technology installed at the Screening Check Point (SCP) area of the international departure terminal. The system is expected to improve security, increase accuracy, reduce stress due to long queuing time, and provide various other benefits, namely speeding up the process of inspecting goods and potential passengers. If conventional X-rays is only able to check 155 trays per hour with a maximum of 235 trays during peak hours, ATRS X-ray is able to check up to 285 trays per hour with maximum capability during peak hours of 410 trays per hour.

The use of ATRS X-ray is the first in Indonesia and is a form of the company’s commitment to improve sustainable airport services.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 63 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Innovations in Airport Development

The rapid growth of air traffic frequency at Adi In 2019, PT Angkasa Pura I (Persero) had completed Sucipto Airport prompted PT Angkasa Pura I work on preparations for the construction of the (Persero) to adopt a policy to construct the New Yogyakarta International Airport (YIA). Yogyakarta Yogyakarta International Airport (NYIA). The International Airport began operating on May 6, construction of the new airport is expected to 2019, with the concept of minimum operation. increase capacity and improve airport facilities. Furthermore, the development of Yogyakarta NYIA is designed to be an international-class International Airport continues, especially for airport, and to be constructed in three stages from landside and terminal areas. The target is the full 2019 to 2046. operation of Yogyakarta International Airport on March 29, 2020.

Planned Timeline and Development Stages of NYIA

Step 1 Step 2 Step 3 (2019 - 2026) (2027 - 2036) (2037 - 2046)

Since the beginning of the planning process, • Tsunami Disaster Simulation and Mitigation the development of NYIA took into account the likelihood of natural disasters occurring in PT Angkasa Pura I (AP) Persero has identified Indonesia. Potential earthquakes, liquefaction the possibility of tsunamis affecting the NYIA and tsunami were important aspects to consider airport and proposed several innovations, during planning. In this regard, some of the namely: initiatives undertaken include: 1. Establish terminal buildings and other airport facilities as far as possible from the • Using an innovative Dynamic Compaction coast by specifying the maximum slope (DC) method, called Rapid Impulse allowed; Compaction (RIC) 2. Conduct reforestation of coastal forests in the middle of the airport and coastline PT Angkasa Pura I (Persero) has increased areas with whistling pine trees (Casuarina the density of soil to mitigate the potential equisetifolia) and other plants with deep for liquefaction in the NYIA development roots to increase friction; project by applying the Dynamic Compaction 3. Increase the elevation of the runway method. This method compresses the original periodically, for example every 100 or 200 soil by dropping a heavy weight from a certain years, so that it is high and safe from height. tsunami hazards; 4. Implement an early warning system by determining the Airport Operation Center (AOC) building specifications that

PT Angkasa Pura I (Persero) 64 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

can accommodate various equipment For this reason, the Company has taken the from the Indonesian Meteorology, initiative to: Climatology, and Geophysical Agency 1. Construct an escape building on the top floor (BMKG), such as integrated early warning of the earthquake and tsunami-resistant system instrument, sirens for tsunami terminal building, which can accommodate early warning, and tsunami early warning all people at the airport, including passengers, receiver; employees, visitors, and others 5. Build protective structures in the airport 2. Design a terminal building with a wider area, especially on the sea side to withstand second floor and a ground floor that has many tsunamis up to a certain height; openings and access to the outside in order to 6. Increase the height of the airport ground reduce the impact of a tsunami floor at elevation +9.0 m, compared to the 3. Prepare the ground floor of the terminal magnitude of NYIA airport at 8.5 m; building and its facilities that may be affected 7. Put more people’s activities upstairs and by a tsunami, while the above floor can be used put utilities downstairs. as an evacuation site to minimize casualties 4. Plan for NYIA to be used as a temporary • Prepare NYIA as a Disaster Evacuation Shelter evacuation site (TES) in the event of a disaster.

PT Angkasa Pura I (Persero) considers various risks to human safety, including the risks of tsunamis that may impact on people and environment around the NYIA airport.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 65 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Organizational Structure

per 31 December 2019

Operational Audit Business Legal Senior Manager Senior Manager

Technical and Information Direktur Utama Vice President Legal Legal Affairs Technology Audit President Director Senior Manager Senior Manager Faik Fahmi I Wayan Sutawijaya

Commercial Audit Regulation Senior Manager Vice President Senior Manager Internal Audit Israwadi Finance Audit Corporate Planning Senior Manager Senior Manager Vice President Human Capital Corporate & Gen eral Services Au dit Planning & Senior Manager Transformation

Ramdan Pradarma Corporate Performance & Change Management Senior Manager

Stakeholder Relation & Compliance Board of Director Secretary Senior Manager Senior Manager Direktur Pemasaran Direktur Sumber Daya Vice President Vice President Direktur Operasi Direktur Teknik dan Pelayanan Manusia dan Umum Compliance & Corporate Direktur Pengembangan Usaha Direktur Keuangan Secretary Operation Director Technical Director Marketing and Service Finance and Risk Management Business Development Director Finance Director Handy Director Information Widya Wiedagdo Heryudhitiawan Wendo Asrul Rose Lukman F. Laisa Technology Director Corporate Communication Sardjono Jhonny T. Devy Suradji Novrihandri Risk Management Senior Manager Senior Manager Adi Nugroho

Vice President Vice President Vice President Vice President Project Management Vice President Vice President Vice President Project Management Vice President Vice President Project Management Vice President Vice President Vice President Vice President Vice President Vice President Vice President Vice President Vice President PTS. Vice Business ViceAir Prpeorsidt ent AVirpiceo rPret Facisidleitniets ViceA Priresporidtent Airport Development Aeronautical Non Aeronautical Airport Services and Airport Tourism & Business Information Airport Digital Accounting Finance Procurement Human Capital Training & General Services Corporate Social Airport Operation Airport Security President Airport Development & Equipme nt Business Business Hospitality Connectivity Portfolio Technology Development Responsibility Safety Engineering & Maintenance International Relation Cecep M. Sonjaya R. Sujiastono Eppy Dhanianto Maya Damayanti Djoko Wahyono Dony Subardono Herdanu Widodo Dwi Tedjowati Didik Suryanto Rahadian D. Ahmad Syaugi Yudhaprana Ristiyanto Bambang Arsanto Gidionton Saritua Sulistyowati Dewi Imron Qodari Rini Asriningsih Nur Sapto Winoto Yogisworo Shahab Sugarda Eko Wibowo Suagian Wibowo

Safety Retail, Food & Customer Business Corporate Social Airport Operation Airport Security Airport Economics Civil Aeronautical Relationship Subsidiary ICT Planning & Cost Accounting Treasury Material Organization Training Design Office Services Management Mechanical Beverage Planning & Responsibility Air Side Protection & Statistics Air Side Revenue Management & Companies Govemance Senior Manager Senior Manager Procurement Development Senior Manager Senior Manager System Senior Manager Marketing Development Cooperation Senior Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Hospitality Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager Senior Manager

Cargo and Compensation & Office Facilities Airport Operation Airport Security Occupational Airport Planning Non Terminal Airport Property Business Corporate Social Electrical Aeronautical Services Planning Affiliate & New Business Finance Airport Operation Services Industrial Training Operation & Land Side & Screening Safety Health and Design & Landscape & Advertising Research Responsibility Senior Manager Business Support & Design Portfolio Application Accounting Air Side Procurement Relation Senior Management Maintenance Terminal Marketing Environment Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager

International Career Services Procurement Airport Rescue Airport Security Quality Airport Terminal Building Relations & Enterprise Tax Management Airport Operation Management & People Asset Monitoring & Planning & & Fire Fighting Quality Control Management Environment Senior Manager Strategic Application Senior Manager Air Side Human Capital Development Management Assurance Administration Senior Manager Senior Manarolger Senior Manager Senior Manager Partnership Senior Manager Senior Manager Services Seni or Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager

Airport Budget Technology & Management Network Senior Manager Senior Manager

ICT Services Senior Manager

GENERAL MANAGER

PT Angkasa Pura I (Persero) 66 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Operational Audit Business Legal Senior Manager Senior Manager

Technical and Information Direktur Utama Vice President Legal Legal Affairs Technology Audit President Director Senior Manager Senior Manager Faik Fahmi I Wayan Sutawijaya

Commercial Audit Regulation Senior Manager Vice President Senior Manager Internal Audit Israwadi Finance Audit Corporate Planning Senior Manager Senior Manager Vice President Human Capital Corporate & Gen eral Services Au dit Planning & Senior Manager Transformation

Ramdan Pradarma Corporate Performance & Change Management Senior Manager

Stakeholder Relation & Compliance Board of Director Secretary Senior Manager Senior Manager Direktur Pemasaran Direktur Sumber Daya Vice President Vice President Direktur Operasi Direktur Teknik dan Pelayanan Manusia dan Umum Compliance & Corporate Direktur Pengembangan Usaha Direktur Keuangan Secretary Operation Director Technical Director Marketing and Service Finance and Risk Management Business Development Director Finance Director Handy Director Information Widya Wiedagdo Heryudhitiawan Wendo Asrul Rose Lukman F. Laisa Technology Director Corporate Communication Sardjono Jhonny T. Devy Suradji Novrihandri Risk Management Senior Manager Senior Manager Adi Nugroho

Vice President Vice President Vice President Vice President Project Management Vice President Vice President Vice President Project Management Vice President Vice President Project Management Vice President Vice President Vice President Vice President Vice President Vice President Vice President Vice President Vice President PTS. Vice Business ViceAir Prpeorsidt ent AVirpiceo rPret Facisidleitniets ViceA Priresporidtent Airport Development Aeronautical Non Aeronautical Airport Services and Airport Tourism & Business Information Airport Digital Accounting Finance Procurement Human Capital Training & General Services Corporate Social Airport Operation Airport Security President Airport Development & Equipme nt Business Business Hospitality Connectivity Portfolio Technology Development Responsibility Safety Engineering & Maintenance International Relation Cecep M. Sonjaya R. Sujiastono Eppy Dhanianto Maya Damayanti Djoko Wahyono Dony Subardono Herdanu Widodo Dwi Tedjowati Didik Suryanto Rahadian D. Ahmad Syaugi Yudhaprana Ristiyanto Bambang Arsanto Gidionton Saritua Sulistyowati Dewi Imron Qodari Rini Asriningsih Nur Sapto Winoto Yogisworo Shahab Sugarda Eko Wibowo Suagian Wibowo

Safety Retail, Food & Customer Business Corporate Social Airport Operation Airport Security Airport Economics Civil Aeronautical Relationship Subsidiary ICT Planning & Cost Accounting Treasury Material Organization Training Design Office Services Management Mechanical Beverage Planning & Responsibility Air Side Protection & Statistics Air Side Revenue Management & Companies Govemance Senior Manager Senior Manager Procurement Development Senior Manager Senior Manager System Senior Manager Marketing Development Cooperation Senior Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Hospitality Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager Senior Manager

Cargo and Compensation & Office Facilities Airport Operation Airport Security Occupational Airport Planning Non Terminal Airport Property Business Corporate Social Electrical Aeronautical Services Planning Affiliate & New Business Finance Airport Operation Services Industrial Training Operation & Land Side & Screening Safety Health and Design & Landscape & Advertising Research Responsibility Senior Manager Business Support & Design Portfolio Application Accounting Air Side Procurement Relation Senior Management Maintenance Terminal Marketing Environment Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager

International Career Services Procurement Airport Rescue Airport Security Quality Airport Terminal Building Relations & Enterprise Tax Management Airport Operation Management & People Asset Monitoring & Planning & & Fire Fighting Quality Control Management Environment Senior Manager Strategic Application Senior Manager Air Side Human Capital Development Management Assurance Administration Senior Manager Senior Manarolger Senior Manager Senior Manager Partnership Senior Manager Senior Manager Services Seni or Senior Manager Senior Manager Senior Manager Senior Manager Senior Manager Manager

Airport Budget Technology & Management Network Senior Manager Senior Manager

ICT Services Senior Manager

GENERAL MANAGER

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 67 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Profile of Board of Commissioners

per 31 December 2019

Harry Z. Soeratin Ali Mochtar Ngabalin Djoko Sasono Suprasetyo Tri Budi Satriyo

PT Angkasa Pura I (Persero) 68 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Djoko Sasono President Commissioner

Kediri, 25 September 1963 Indonesian Citizen

Age 56 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Planology Engineering from Institute of Technology, 1987 • Master of Transportation Planning and Engineering from The University of Leeds, Educational Background United Kingdom, 1994 • Doctor in Transportation Planning and Policy (Urban Engineering) from The University of Tokyo, Japan, 2002

Training/ Certification This information can be found on page 158 in the training table in this annual report.

• Junior Planner (2002-2003) • Head of Program and Evaluation Division, Research and Development Center for Multimodal Transportation Management – Research and Development Agency (2003-2005) • Director of Spatial Planning and Environment, Deputy for Planning and Programming Division of the Executive Agency of Rehabilitation and Reconstruction Agency for and Nias/ BRR NAD-NIAS (2005-2006) • Vice Deputy for Infrastructure Development II (2006) • Vice Deputy for Environmental Infrastructure and Maintenance Work Experience • Vice Deputy for Housing and Settlement, the Executive Agency of Rehabilitation and Reconstruction Agency for Aceh and Nias/ BRR NAD-NIAS (2007-2008) • Drafting Team for Multimodal Transport (2008-2009) • Head of Center for Data and Information (2009-2012) • Director of Urban Transportation System Development (2012-2015) • Director General of Land Transportation (2015) • Drafting Team for Planning & Program Document (2016) • Expert Staff of Logistics, Multimodal Transportation & Transportation Safety (2016) • Head of Transportation Human Resources Development Agency (2017-2018) • Secretary General of the Ministry of Transportation (2018-present).

Appointed as President Commissioner of the Company on 19 July 2018 based on Legal Basis of Deecree Act of the Minister of State-Owned Enterprises Number SK-210/MBU/07/2018 Appointment dated 19 July 2018, until 19 July 2023.

Secretary General of the Ministry of Transportation of the Republic of Indonesia (2018 Concurrent Position - present).

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners, nor Main and Controlling Shareholder position.

Shares Ownership of PT Has no shares ownership in PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 19 July 2018 – 19 July 2023 (First Term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 69 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Harry Z. Soeratin Commissioner

Jakarta, 14 December 1970. Indonesian Citizen

Age 49 years per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Accounting from Padjadjaran University, Bandung, 1987 • Master of Management in Accounting from University of Indonesia, 1991 Educational Background • Ph.D Program from Business and Commerce Faculty, Keio University of Tokyo, 1999 • Doctoral Program (DMB) from Padjadjaran University, Bandung, 2016

Training/ Certification This information can be found on page 158 in the training table in this annual report.

• Inspectorate General of Ministry of Finance (1987-1992) • Directorate General of State-Owned Enterprise Development, Ministry of State- Owned Enterprise (1992-2008) Work Experience • Secretariat General of Ministry of Finance (2008-2016) • Secretariat General of Ministry of Social Affairs (2016-2018) • Head of Education, Research and Social Counseling Agency, Ministry of Social Affairs (2018- present)

Appointed as Commissioner of PT Angkasa Pura I (Persero) on 16 January 2018. Legal Basis of The first legal basis of appoinment was the Decree of the Minister of State-Owned Appointment Enterprises in the General Meeting of Shareholders Number SK-17/MBU/01/2018 dated 16 January 2018, until there is a further GMS resolution

Head of Education, Research and Social Counseling Agency, Ministry of Social Affairs, Concurrent Position 2018 – present

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners, nor Main and Controlling Shareholders

Shares Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 16 January 2018 – present (first term)

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Suprasetyo Commissioner

Magelang, 23 May 1958 Indonesian Citizen

Age 61 years old per December 2019

Domicile Depok

Educational Background • Bachelor of Chemical Engineering from Gadjah Mada University, 1985

Training/ Certification This information can be found on page 158 in the training table in this annual report.

• Sub-Section Head of Terminal Operations, Directorate General of Civil Aviation, Ministry of Transportation (August 1992 - July 1994) • Sub-Section Head of Airport Rescue and Fire Fighting (PKP-PK), Directorate General of Civil Aviation, Ministry of Transportation (July 1994 - March 1999) • Sub Directorate Head of Standardization of Public Health, Directorate General of Civil Aviation, Ministry of Transportation (March 1999 - January 2012) • Sub Directorate Head of Emergency Service Security, Directorate General of Civil Aviation, Ministry of Transportation (January 2012 - May 2007) • Transportation Attache at the Indonesian Embassy in Washington DC (May 2007 - June 2011) • Sub Directorate Head of Aviation Security Quality Control, Directorate General of Work Experience Civil Aviation, Ministry of Transportation (June 2011 - December 2012) • Sub Directorate Head of Emergency Services at the Directorate of Aviation Security, Directorate General of Civil Aviation, Ministry of Transportation (December 2012 - April 2013) • Head of Hang Nadim First-Class Airport of Batam, Directorate General of Civil Aviation, Ministry of Transportation (April 2013 - December 2014) • Head of Authority Office of Region I Soekarno-Hatta First-Class Airport, Directorate General of Civil Aviation, Ministry of Transportation (December 2014 - January 2015) • Director General of Civil Aviation, Ministry of Transportation of the Republic of Indonesia (January 2015 - February 2017)

Appointed as Commissioner of PT Angkasa Pura I (Persero) since 4 April 2017. Legal Basis of The first legal basis of appointment was the Decree of the Minister of State- Appointment Owned Enterprises Decree in the General Meeting of Shareholders Number SK.65/ MBU/4/2017 dated 4 April 2017, until there is a further GMS resolution

Not holding a concurrent position in PT Angkasa Pura I (Persero), or in another Concurrent Position company or institution.

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Main and Controlling Shareholders

Shares Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 4 April 2017 – present (first term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 71 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Ali Mochtar Ngabalin Commissioner

Fakfak, West , 25 December 1968. Indonesian Citizen

Age 51 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Communication from Alauddin State Islamic Institute (University) of Makassar, 1994 Educational Background • Master of Communication Studies from the University of Indonesia, 2001 • Doctorate of Management from Jakarta State University, 2013

Training/ Certification This information can be found on page 158 in the training table in this annual report.

Member of Commission I, House of Representatives (DPR) Republic of Indonesia Work Experience (2004-2009)

Appointed as Commissioner of the Company since 19 July 2018, based on the Decree Legal Basis of Act of the Minister of State-Owned Enterprises Number SK-210/MBU/07/2018 dated 16 Appointment January 2018, until 19 July 2023

Concurrent Position Presidential Office Spokesperson Staff (2018 - present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders

Shares Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 19 July 2018 – 19 July 2023 (first term)

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Tri Budi Satriyo Commissioner

Blora, 12 December 1961 Indonesian Citizen

Age 58 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor in State Administration from Open University, 1997 Educational Background • Master of Management from IMMI University, 2010

Training/ Certification This information can be found on page 158 in the training table in this annual report.

Work Experience Indonesian Air Force from 1984 to the present

Appointed as Commissioner of the Company since July 19, 2018, based on the Decree Legal Basis of of the Minister of State-Owned Enterprises Decree Number SK-210/MBU/07/2018 Appointment dated 16 January 2018, until 19 July 2023

Concurrent Position Air Vice Marshal of the Indonesian Air Force (1984 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Main and Controlling Shareholders.

Shares Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 19 July 2018 – 19 July 2023 (first term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 73 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Profile of Board of Directors

per 31 December 2019

Sardjono Jhony Adi Nugroho Wendo Asrul Rose Devy Suradji Faik Fahmi Lukman F. Laisa Novrihandri Tjitrokusomo

PT Angkasa Pura I (Persero) 74 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Faik Fahmi President Director

Purbalingga, 12 December 1967. Indonesian Citizen

Age 53 years old per December 2019

Domicile Jakarta, Indonesia

Bachelor in Economics in Management of Faculty of Economics from Gadjah Mada Educational Background University, Yogyakarta, 1993

Training/ Certification This information can be found on page 159 in the training table in this annual report

• Service Director/Executive Vice President (EVP) of Service at PT (Persero) (April 2012-December 2014) • Director of Commercial and Business Development at PT Angkasa Pura II (Persero) (January 2015-11 September 2016) Work Experience • Port Director at PT ASDP Indonesia Ferry (Persero) (12 September 2016-21 December 2016) • President Director at PT ASDP Indonesia Ferry (Persero) (21 December 2016-22 December 2017)

Appointed as President Director of the Company since 22 December 2017, based on Legal Basis of the Decree of the Minister of State-Owned Enterprises Number SK-289/MBU/12/2017 Appointment concerning Dismissal and Appointment of Members of the Board of Directors of the Company, dated on 22 December 2017, until there is a further GMS resolution.

Concurrent Position President Commissioner at PT Angkasa Pura Support since (2017 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 22 December 2017 – present (first term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 75 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Novrihandri Finance Director

Padang, pada 20 November 1971 Indonesian Citizen

Age 48 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Accounting of Faculty of Economics from Andalas Educational Background University, , 1995 • Master of Management from Gajah Mada University, 2010

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• Assistant to Deputy Director of Region I Non-Aeronautics Cooperation (2007- 2011) Work Experience • Finance Director at PT Angkasa Pura Support (2012) • Business Development Group Head (2013) • Human Capital Support Expert (2014)

Appointed as Finance Director and Information Technology based on the Decree Legal Basis of of the Minister of State-Owned Enterprises in the General Meeting of Shareholders Appointment Number SK-222/MBU/II/2015 dated 9 November 2015, until there is a further GMS resolution

• President Commissioner of PT Angkasa Pura Logistics( (2016 – present) Concurrent Position • Supervisory Board of Dapenra (2018 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no shares of PT Angkasa Pura I (Persero) owned Angkasa Pura I (Persero)

Term of Office 9 November 2015 – present (First Term)

PT Angkasa Pura I (Persero) 76 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Devy W.A. Suradji Marketing and Services Director

Jakarta, 9 April 1970. Indonesian Citizen

Age 49 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor degree in Fisheries from Bogor Agricultural University (IPB), 1993 Educational Background • Master degree in Environmental Health Management from New Haven University, Connecticut, United States, 1996

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• General Manager of Management Competence at PT Surveyor Indonesia (1996– 2004) • Managing Director of Indonesia Friday Concepts Sdn. Bhd. (2005–2007) • Chief Consultant at Tricon Group Indonesia (2007–2009) Work Experience • Marketing and Communications Director of WWF Indonesia (2009-2016) • Special Staff to the Minister of State-Owned Enterprises (2017) • Commissioner at PT Telkom Indonesia (Persero) Tbk (2017) • Vice Deputy II INASGOC (2018)

Appointed as Marketing and Services Director of PT Angkasa Pura I (Persero) based on the Decree of the Minister of Stated-Owned Enterprises Number SK-289/ Legal Basis of MBU/12/2017 concerning Dismissal and Appointment of Members of the Board of Appointment Directors of PT Angkasa Pura I dated 22 December 2017, until there is a further GMS resolution

Concurrent Position President Commisioner of PT Angkasa Pura Retail (2018 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no ownership shares of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 22 December 2017 – present (first term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 77 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Wendo Asrul Rose Operation Director

Padang, 29 December 1970 Indonesian Citizen

Age 49 years old per December 2019

Domicile Jakarta, Indonesia

Bachelor of Engineering in Mechanical Engineering from National Institute of Educational Background Science and Technology, Jakarta, 1995

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• Department Head of Mechanics and Engineering at PT Angkasa Pura I (Persero) (2003-2004) • Assistant to the Deputy Director of PT Angkasa Pura I (Persero) (2004-2009) • Deputy Director of Monitoring Technique at PT Angkasa Pura I (Persero) (2009- 2011) Work Experience • Head of Sepinggan International Development Project at PT Angkasa Pura I (Persero) (2011-2013). • General Manager of Sultan Aji Muhammad Sulaiman Sepinggan International Airport – Balikapapan at PT Angkasa Pura I (Persero) (2013-2015). • Acting President Director for the period of 20 November 2017 – 21 December 2017 based on the Decree of the Board of Commissioners Number 5/DK.AP.I/2017

Appointed as Operation Director of the Company based on the Decree of the Legal Basis of Minister of State-Owne Enterprises in the General Meeting of Shareholders Number Appointment SK-222/MBU/II/2015 dated 9 November 2015, until there is a further AGM resolution

Concurrent Position Commissioner at PT Gapura Angkasa (2017 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 9 November 2015 – present (First Term)

PT Angkasa Pura I (Persero) 78 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Lukman F. Laisa Technical Affairs Director

Gorontalo, 6 March 1968. Indonesian Citizen

Age 51 years old per December 2019

Domicile Jakarta, Indonesia

Bachelor of Engineering in Civil Engineering from National Institute of Technology, Educational Background , 1992

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• Staff of Runway Sub-Directorate of Airport Engineering Directorate in the Ministry of Transportation (1993-2002) • Section Head of Civil Works for Padang Baru Construction Project in the Ministry of Transportation (2002-2005) • Staff of Air Facilitaties of Airport Directorate in the Ministry of Transportation (2006) • Section Head of Airport Program and Infrastructure of Airport Directorate in the Ministry of Transportation (2010-2013) Work Experience • Section Head of P2B in Area III Airport Authority, Surabaya in the Ministry of Transportation (2014-2015) • Section Head of Planning of Directorate General of Transportation in the Ministry of Transportation (2014-2015) • Head of Airport of Directorate General of Air Transportation in the Ministry of Transportation (2015) • Technical Director of the Public Company for Air Navigation Service Provider Agency (2015-2017)

Appointed as Technical Affairs Director based on the Decree of the Minister of Legal Basis of State-Owned Enterprises in the General Meeting of Shareholders Number SK-53/ Appointment MBU/03/2018 dated March 5, 2018, until there is a further GMS resolution

Concurrent Position President Commisioner of PT Angkasa Pura Properti (2018 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners.

Share Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 5 March 2018 – present (First Term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 79 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Adi Nugroho Human Capital and General Affairs Director

2 May 1969 Indonesian Citizen

Age 50 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Human Resources Management from Pancasila University, Jakarta, 1993 Educational Background • Master degree in Marketing from Massey University, New Zealand, 2000 • Doctorate degree in Service Management from Northern Malaysia University, 2007

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• Manager of Commerce and Business Development (2008-2012) • Deputy Director of for Area II Commerce and Business Development (2012-2013) Work Experience • Business Development Group Head (2013) • Project Portfolio Analyst (2013-2015)

Appointed as Human Capital and General Affairs Director based on the Decree of the Legal Basis of Minister of State-Owned Enterprises in the General Meeting of Shareholders Number Appointment SK-222/MBU/II/2015 dated 9 November 2015, until there is further GMS resolution

Concurrent Position President Commissioner at PT Angkasa Pura Hotel (2015 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 9 November 2015 – present (First Term)

PT Angkasa Pura I (Persero) 80 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Sardjono Jhony Tjitrokusumo Business Development Director

Jakarta, 5 August 1971. Indonesian Citizen

Age 48 years old per December 2019

Domicile Jakarta, Indonesia

Educational Background Alumnus of Australian Aviation College, CPL/IR/ME, 1991.

Training/ Certification This information can be found on page 159 in the training table in this annual report.

• Merpati Airlines Pilot (1991-2004) • Silk Air (2004-2006) • Qatar Airways (2006-2008) • Etihad Airways (2008-2010) Work Experience • President Director of PT Merpati Nusantara Airlines (2010-2012) • Founder/Owner of Leste Aviation (2013) • Founder of PT MBN (2007-2017) • Operation Director of International Airport (2015) • Chairman of West Java Enterprises Partnership (WEP) (2016-2017)

Appointed as Business Development Director of PT Angkasa Pura I (Persero) Legal Basis of based on the Decree of the Minister of State-Owned Enterprises Number SK-155/ Appointment MBU/08/2017 dated 11 August 2017, until there is a further GMS resolution

Concurrent Position Commissioner of PT Jasa Marga Bali Tol (2017 – present)

The incumbent does not have any affiliation to any other members in the Board of Affiliation Relationship Directors or Board of Commissioners nor Major and Controlling Shareholders.

Share Ownership of PT Has no shares ownership of PT Angkasa Pura I (Persero) Angkasa Pura I (Persero)

Term of Office 11 August 2017 – present (First Term)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 81 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Profile of Executive Officers

I Wayan Sutawijaya Vice President Legal

Jembrana, Bali, 4 March 1967 Indonesian Citizen

Age 52 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Law from 17 August 1945 University, Educational Semarang, 1995 Background • Master degree of Management from STIE Mitra Indonesia, Yogyakarta, 2002

• Head of Legal & Compliance (2015 - 2018) Work Experience • Head of Procurement (2013 - 2015)

Serving as Vice President Legal since 16 July 2018 based Legal Basis of on the Decree of Board of Directors Number SKEP.1130/ Appointment KP.07.03/2018

Handy Heryudhitiawan Vice President Corporate Secretary

Jakarta, 25 August 1976 Indonesian Citizen

Age 43 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Public Economic Management from College of Administrative Educational Sciences, State Administration Institute, 2003 Background • Master degree in Management from Indonesian Muslim University, Makassar, 2005

• General Manager of Sultan Aji Muhammad Sulaiman Sepinggan Airport - Balikpapan (2017 - 2018) Work Experience • General Manager of Syamsudin Noor Airport - Banjarmasin (2015 - 2017)

Serving as Vice President Corporate Secretary since Legal Basis of 28 August 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1649/KP.07.03/2018

PT Angkasa Pura I (Persero) 82 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Israwadi Vice President Internal Audit

Medan, 23 August 1971 Indonesian Citizen

Age 48 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Industrial Engineering from Bandung Educational Institute of Technology, 1995 Background • Master degree in Management from Trisakti University, Jakarta, 2005

• Corporate Secretary (2016 - 2018) Work Experience • Finance Director of PT Angkasa Pura Hotel (2012 - 2016)

Serving as Vice President Internal Audit since 28 August 2018 based on the Decree of the Board of Directors Legal Basis of Number SKEP.1648/KP.07.03/2018 and as Director of Appointment Compliance, Assets and Procurement since 19 March 2020 based on Minister of SOE Decree No. SK 74/MBU/03/2020

Ramdan Pradarma Vice President Corporate Planning & Transformation

Jakarta, 12 January 1965 Indonesian Citizen

Age 43 years old per Desember 2019

Domicile Jakarta, Indonesia

• Bachelor in Information Management from Educational Gunadarma University, Jakarta, 1992 Background • Master degree in Computer Science from University of Indonesia, 2013

• Airport Services Group Head (2016 - 2018) Work Experience • Co. General Manager of I Gusti Ngurah Rai Airport - Bali (Commercial SBU) (2013 - 2016)

Serving as Vice President Corporate Planning & Legal Basis of Transformation since 16 July 2018 based on the Decree of Appointment the Board of Directors Number SKEP.1130/KP.07.03/2018

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 83 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Widya Wiedagdo Vice President Compliance & Risk Management

Ujung Pandang, 3 July 1971 Indonesian Citizen

Age 48 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Economics in Management from Pancasila Background University, 1994

• Acting President Director of PT Angkasa Pura Retail (2016 - 2018) Work Experience • Enterprise Resource Planning Project of Angkasa Pura I Head Office (2014 - 2016)

Serving as Vice President Compliance & Risk Legal Basis of Management since 16 July 2018 based on the Decree of Appointment the Board of Directors Number SKEP.1130/KP.07.03/2018

Cecep Marga Sonjaya Vice President Airport Operation

Bandung, 3 Febuary 1963. Indonesian Citizen

Age 54 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics (S1) Mahasaraswati University, Educational 2000 Background • Master of Air Transportation Management (S2), Sahid University, 2009

• Sultan Hasanuddin Airport General Manager (2016 - Work Experience 2018) • Corporate Expert (2018)

Serving as Vice President Airport Operations since 16 Legal Basis of July 2018 based on the Decree of the Board of Directors Appointment Number SKEP.211/KP.07.03/2019

PT Angkasa Pura I (Persero) 84 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Dony Subardono Vice President Airport Security

Jakarta, 12 July 1976 Indonesian Citizen

Age 43 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Management from STIE Mahardhika, Background Surabaya, 2017

• Airport Security Group Head (2015 - 2018) Work Experience • Screening Check Point Department Head (2013 - 2015)

Serving as Vice President Airport Security since 16 July Legal Basis of 2018 based on the Decree of the Board of Directors Appointment Number SKEP.1130/KP.07.03/2018.

Herdanu PTS Vice President Airport Safety

Semarang, 6 November 1981 Indonesian Citizen

Age 38 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Civil Engineering from Trisakti University, Educational 2002 Background • Master degree in Strategic Management from University, 2009

• Transformation Management Office (2019) • Occupational Safety Health Senior Manager (2018 – Work Experience 2019) • Occupational Safety Health Department Head (2017 – 2018)

Serving as Acting Vice President Airport Safety since 4 Legal Basis of November 2019 based on the Instruction of the Board of Appointment Directors Number PRIN.DP.564/OM.07.03/2019

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 85 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Widodo Vice President Airport Engineering

Medan, 29 June 1967 Indonesian Citizen

Age 52 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Civil Engineering from Atmajaya University, Background Jakarta, 1994

• Project Management Office Group Head (2016 - 2018) Work Experience • Airport Facilities Readiness Group Head (2013 - 2016)

Serving as Vice President Airport Engineering since 16 Legal Basis of July 2018 based on the Decree of the Board of Directors Appointment Number SKEP.1130/KP.07.03/2018

Dwi Tedjowati Vice President Airport Facilities & Maintenance

Yogyakarta, 5 March 1965. Indonesian Citizenv

Age 54 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Civil Engineering from University of Indonesia, Background Jakarta, 1990

• Airport Facilities Readiness Group Head (2016 - 2018). Work Experience • Project Management Office Group Head (2013 - 2016).

Serving as Vice President Airport Facilities & Maintenance Legal Basis of since 16 July 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1130/KP.07.03/2018

PT Angkasa Pura I (Persero) 86 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Didik Suryanto Vice President Airport Equipment

Lamongan, 30 May 1965 Indonesian Citizen

Age 54 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Engineering, 2005 Background

• Airport Equipment Readiness Group Head (2018). Work Experience • Airport Equipment Readiness Department Head of I Gusti Ngurah Rai Airport- Bali (2016 - 2018).

Serving as Vice President Airport Equipment since 16 Legal Basis of July 2018 based on the Decree of the Board of Directors Appointment Number SKEP.1130/KP.07.03/2018

R. Sujiastono Project Management Airport Development

Lahat, 15 April 1966 Indonesian Citizen

Age 53 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Civil Engineering, Sriwijaya University Educational 1990 Background • Master degree in Administrative Sciences from Sam Ratulangi University, 2006

• Project Manager of Yogyakarta International Airport Work Experience Development (2015 - 2018) • Civil Landside Department Head (2013 - 2015)

Serving as Project Management Airport Development Legal Basis of since 16 July 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1130/KP.07.03/2018

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 87 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Rahadian D. Yogisworo Vice President Aeronautical Business

Jombang, 18 July 1972 Indonesian Citizen

Age 47 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Economics from 17 Agusts University, Background Surabaya, 1996

• Co. General Manager Commercial SBU (2016 - 2019) Work Experience • Route Development Departement Head (2014 - 2015) • Airlines Marketing Departement Head (2013 - 2014)

Serving as Vice President Aeronautical Business since Legal Basis of March 1, 2018 based on the Decree of the Board of Appointment Directors Number SKEP.213/KP.07.03/2019.

Ahmad Syaugi Shahab Vice President Non Aeronautical Business

Palembang, 4 September 1976. Indonesian Citizen

Age 43 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Accounting, 2006. Educational • Master degree in Management from Mercu Buana Background University, Jakarta.

• Aviation Marketing Group Head (2015 - 2018) Work Experience • Corporate Expert Level II Human Capital Group (2015)

Serving as Vice President Non-Aeronautical Business Legal Basis of since 16 July 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1130/KP.07.03/2018

PT Angkasa Pura I (Persero) 88 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Yudhaprana Sugarda Vice President Airport Services & Hospitality

Jakarta, 23 January 1967 Indonesian Citizen

Age 52 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Engineering of Civil Engineering Department from Parahyangan Catholic University, Educational 1991 Background • Mastere Specialization en Management Aeroportuaire (MSMA), Ecole Nationale de L’Aviation Civile (ENAC), Toulouse, France, 1996

• Airport Planning Group Head (2016 - 2018) Work Experience • Head of Corporate Planning & Performance (2013 - 2016)

Serving as Vice President Airport Services & Hospitality Legal Basis of since 16 July 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1130/KP.07.03/2018

Ristiyanto Eko Wibowo Vice President Business Development & International Relations

Kudus, 23 January 1977 Indonesian Citizen

Age 42 years old per December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Economics in Management from Background Mahasaraswati University, Denpasar 2006

• Business Development Group Head (2015 - 2018) Work Experience • Business Planning Development Department Head (2013 - 2015)

Serving as Vice President Business Development & Legal Basis of International Relations since 16 July 2018 based on the Appointment Decree of the Board of Directors Number SKEP.1130/ KP.07.03/2018

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 89 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Bambang Arsanto PTS. Vice President Business Portfolio

Jakarta, 12 January 1977 Indonesian Citizen

Age 42 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics from Trisakti University (2000) Educational • Master degree in Capital Markets from University of Background Indonesia (2006)

• Senior Manager Subsidiaries Company Senior Work Experience Manager (2019) • Affiliate & New Portfolio Senior Manager (2018-2019)

Serving as Acting Vice President Business Portfolio since Legal Basis of 7 October 2019 based on the Decree of the Board of Appointment Directors Number SKEP PRIN.DP.492/OM.07.03/2019.

Gidionton Saritua Suagian Vice President Information Technology

Depok, 25 January 1984. Indonesian Citizen

Age 35 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Industrial Engineering from University of Educational Indonesia Background • Master degree in Industrial Engineering from Mercubuana University

• Profesional Services Director of TIBCO Indonesia (2017 Work Experience – 2019) • Senior Manager of Accenture (2005 – 2017)

Serving as Vice President Information Technology since Legal Basis of June 2019 based on the Decree of the Board of Directors Appointment Number SKEP.971/KP.07.03/2019

PT Angkasa Pura I (Persero) 90 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Sulistyowati Dewi Vice President Accounting

Magelang, 17 January 1969 Indonesian Citizen

Age 50 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Accounting from Gajah Educational Mada University, 1993 Background • Master Degree in Management from Airlangga University, 2013

• Accounting Group Head (2015 - 2018). Work Experience • Finance Information Technology Department Head (2013 - 2015).

Serving as Vice President Accounting since 16 July 2018 Legal Basis of based on the Decree of the Board of Directors Number Appointment SKEP.1130/KP.07.03/2018

Eppy Dhanianto Wibowo Vice President Finance

Jakarta, 22 October 1978 Indonesian Citizen

Age 41 years old per 31 December 2019

Domicile Jakarta, Indonesia

Educational Bachelor of Economics in Management from University of Background Indonesia, 2002

• Head of Risk Management & Corporate Planning Work Experience (2017 - 2018) • Non-Aviation Marketing Group Head (2015 - 2017)

Serving as Vice President Finance since 16 July 2018 Legal Basis of based on the Decree of the Board of Directors Number Appointment SKEP.1130/KP.07.03/2018

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 91 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Maya Damayanti Vice President Procurement

Palembang, 25 May 1971 Indonesian Citizen

Age 48 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor, Civil Engineering (S1), Universitas Indonesia, Educational 1995 Background • Master of Finance Management (S2), Prasetya Mulya Business School, 2010

• Airport Facilities Readiness Department Head Juanda Airport, Surabaya (2018 – 2019) • Civil Airside Department Head, Head Office (2013 Work Experience -2018) • Corporate Performance Monitoring & Evaluation Department Head, Head Office (2013);

Serving as Vice President Procurement since April 1, Legal Basis of 2019 based on the Instruction of the Board of Directors Appointment Number SKEP.635/KP.07.01/2019.

Djoko Wahyono Vice President Human Capital

Semarang, 30 August 1970. Indonesian Citizen

Age 49 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Economics in Accounting, 2006 Educational • Master of Science from STIE Dharma Putra, Background Semarang, 2010

• Human Capital Support Expert (2017 - 2018). Work Experience • Budget Management Department Head (2014 - 2017).

Serving as Vice President Human Capital since 27 Legal Basis of September 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1955/KP.07.03/2018

PT Angkasa Pura I (Persero) 92 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Imron Qodari Vice President Training & Development

Jakarta, 22 November 1970 Indonesian Citizen

Age 49 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor of Marketing Management from IKOPIN, Educational Jakarta, 1994 Background • Master Degree in Marketing Management from Mercu Buana University, 2005

• Human Capital Group Head (2014 - 2018) Work Experience • Organization Development & Change Management Department Head (2013 - 2014)

Serving as Vice President Training & Development since Legal Basis of 27 September 2018 based on the Decree of the Board of Appointment Directors Number SKEP.1956/KP.07.03/2018

Rini Asriningsih Vice President General Services

Maros, 31 December 1966 Indonesian Citizen

Age 53 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor (S1), Civil Law Department, Gadjah Mada Educational University Yogyakarta (1992) Background • Master of Business Law, Padjadjaran University Bandung (2006)

• Head of the New Airport Transfer Team (2018-2019) Work Experience • Head of Procurement (2016-2018)

Serving as Vice President General Services since April Legal Basis of 2, 2019 based on the Decree of the Board of Directors Appointment Number SKEP.631/KP.07.03/2019

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 93 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Nur Sapto Winoto Vice President Corporate Social Responsibility

Klaten, 25 April 1968 Indonesian Citizen

Age 51 years old per December 2019

Domicile Jakarta, Indonesia

• Bachelor, Electronics and Instrumentation, Gadjah Educational Mada University, 1992 Background • Master Degree in Business Administration from Bandung Institute of Technology, 1995

• Training & Development Group Head (2016 - 2018) Work Experience • General Manager of I Gusti Ngurah Rai Airport - Bali (2011 - 2016)

Serving as Vice President Corporate Social Responsibility Legal Basis of since 27 September 2018 based on the Decree of the Appointment Board of Directors Number SKEP.1957/KP.07.03/2018

PT Angkasa Pura I (Persero) 94 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Human Resources Management

Human resources (HR) are an important asset for PT Angkasa Pura I (Persero), especially with respect to sustainability and improving business quality. In this regard, the Company seeks to recruit the best talent by promoting the principles of openness, fairness, and equality based on the competencies of candidates. The recruitment strategy shall also be aligned with the needs of the company and take into account the availability of local or national workforce.

Employee Composition by Organizational Level

As of the end of 2019, Angkasa Pura I had a total of Furthermore, the majority of employees are 3,355 employees, the number decreased by 0.44% male, namely 2,516 persons or 75% as of end-2019. or 15 people compared to the previous year. Based However, the disproportionate figure in terms of on the Class of Position, the largest proportion is gender balance is not indicative of a discrimatory in Class 11, 12, and 13 by 831, 574, and 532 people policy, rather PT Angkasa Pura I (Persero) considers included in airport operational and engineering that the significant difference is because the employees. Employees in this field are the largest level of interest in men is greater than women in component of the composition of employees at PT working with an airport management company. Angkasa Pura I (Persero).

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 95 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Employee Composition By Organizational Level in 2017-2019

2019 2018 2017

Class of Position

Male Female Total Male Female Total Male Female Total

1 1 0 1 2 0 2 14 2 3

2 6 1 7 8 1 9 7 1 8

3 33 5 38 37 4 41 40 4 44

4 8 0 8 7 0 7 8 0 8

5 66 9 75 55 9 64 55 7 62

6 119 22 141 124 19 143 120 17 137

7 21 8 29 13 6 19 11 7 18

8 317 59 376 307 65 372 293 60 353

9 42 16 58 53 14 67 71 16 87

10 66 70 136 47 58 105 37 52 89

11 562 269 831 560 268 828 573 258 831

12 438 135 573 487 151 638 480 144 624

13 406 126 532 373 116 489 354 87 441

14 161 50 211 141 42 183 146 42 188

15 254 71 325 314 79 393 353 91 444

Part Timers (Director and 12 2 14 12 2 14 11 2 13 Commissioner)

Total 2.512 843 3.355 2.540 834 3.374 2.573 790 3.350

Employee Composition By Education Level

Based on education level, the highest number had bachelors degree by 31.38%. In general, there of employees graduated from elementary to are no significant changes in the employee high school by 1,184 persons or 42.54% of total composition by education level from the previous employees, while the second largest composition year.

PT Angkasa Pura I (Persero) 96 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Employee Composition By Education Level in 2017-2019

2019 2018 2017

Education Level

Male Female Total Male Female Total Male Female Total

S3 / Doctorate 2 0 2 2 0 2 0 0 0

S2/ Post- Graduate 64 33 94 70 33 103 68 31 99 (Master)

Undergraduate 693 359 1.052 708 362 1,07 638 312 950 (Bachelor)

Associate’s 572 206 778 530 188 718 501 154 655 Degree

Elementary – 1.184 245 1.429 1,232 251 1483 1.355 291 1,646 High School

Total 2.515 843 3.355 2.540 834 3.374 2.562 788 3.350

Employee Composition By Status Level

In 2019, most of the personnels or 3,066 persons assigned military personnel, part timers, and working in PT Angkasa Pura I (Persero) have candidate status. There is no significant change in permanent employee status, while a small number employee composition by level status compared to of other personnel have second civil servant, the previous year.

Employee Composition By Status Level in 2017-2019

2019 2018 2017

Employment Status

Male Female Total Male Female Total Male Female Total

Permanent 2.311 752 3.063 2,27 740 3,01 2.155 663 2,818 Employee

Second Civil 42 1 43 44 1 45 51 2 53 Servant

Assigned Military 6 0 6 6 0 6 8 0 8 Personnel

Part Timers 12 2 14 12 2 14 11 2 13

Candidate 141 88 229 208 91 299 337 .121 458

Total 2.512 843 3.355 2,54 834 3,374 2.562 788 3,35

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 97 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Employee Composition By Age Group

Based on age group, as of end-2019, PT Angkasa employees aged 26-35 years, while the smallest Pura I had a fairly even distribution of the employees age group was in the category of over 56 years. with the largest proportion of young people in the This indicates that adequate human resources are category of between 26-35 years. There were 808 available for the long run.

Employee Composition By Age Group in 2017-2019

2019 2018 2017

Age Group

Male Female Total Male Female Total Male Female Total

>56 2 1 3 1 1 2 5 1 6

51-56 302 50 352 332 52 384 366 61 427

46-50 248 68 316 244 62 306 243 52 295

41-45 289 88 377 296 88 384 274 90 364

36-40 297 107 404 280 100 380 294 94 388

31-35 519 124 643 470 114 584 423 104 527

26-30 524 284 808 552 267 819 558 236 794

21-25 331 121 452 354 142 496 381 140 521

<20 0 0 0 11 8 19 18.00 10 28

Total 2512 843 3355 2.540 834 3.374 2.562 788 3.350

Composition By Working Period and Gender

PT Angkasa Pura I (Persero) employees generally treated equally according to competencies and have a working period of more than five years. As performance assessed in a professional manner. of 31 December 2019, 1,230 persons or 36.62% of In 2019, there were 2,516 males, or 74.9% of total employees had working period of less than five employees. Although there were more male years. The high working period indicates a fairly employees than female ones, this is not due to the good level of employee loyalty, one of which can company’s discrimination policy against certain be elicited by customer satisfaction. employees. The company considers that there are various factors causing these differences, In terms of gender equality, PT Angkasa Pura including employee interest, work motivation and I (Persero) had male and female employees other aspects.

PT Angkasa Pura I (Persero) 98 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Employee Composition By Working Period in 2017-2019 (in person denomination)

2019 2018 2017

Working Period

Male Female Total Male Female Total Male Female Total

>30 17 1 18 24 6 30 31 12 43

26-30 265 52 317 261 33 294 252 32 284

21-25 369 113 482 399 134 533 314 70 384

16-20 138 26 164 176 26 202 310 100 410

11 15 490 140 630 566 176 747 367 115 417

6 10 394 120 514 435 105 540 367 53 420

0-5 839 391 1230 122 906 1,028 986 406 1.392

Total 2.512 843 3.355 1.983 1.386 3.369 2.562 788 3.350

Employee Composition By Work Area

The highest number of employees was in Ngurah Rai Airport Bali and the Head Office. In 2019, 582 employees or 17.33% of total employees worked in work area of Ngurah Rai Airport-Bali.

Comparison of Number of Employees by Work Area 2017 - 2019

Year Description 2019 2018 2017

Head Office 512 479 494

Ngurai Rai Airport – Bali 582 609 607

Juanda Airport – Surabaya 375 388 394

Sultan Hasanuddin Airport – Makassar 249 258 256

Sepinggan Airport – Balikpapan 243 288 283

Frans Kaisiepo Airport – Biak 65 91 85

Sam Ratulangi Airport – Manado 153 169 159

Adisutjipto Airport – Yogyakarta 251 170 174

Adi Soemarmo Airport – Solo 113 112 112

Syamsudin Noor Airport – Banjarmasin 149 156 150

Jenderal Ahmad Yani Airport - Semarang 177 148 152

Lombok Airport – Praya 188 192 185

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 99 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Comparison of Number of Employees by Work Area 2017 - 2019

Year Description 2019 2018 2017

Pattimura Airport – Ambon 93 118 111

El Tari Airport - Kupang 108 114 105

Commercial SBU in Bali 29 32 32

Jenderal Ahmad Yani International Airport 13 18 19 Development Project

Adisucipto International Airport Development 23 16 17 Project

Syamsudin Noor International Airport Development 21 16 15 Project

Sultan Hasanuddin Airport – Makassar Development 11 0 0 Project

TOTAL 3.355 3.374 3.350

PT Angkasa Pura I (Persero) 100 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Shareholder Composition

Shareholder Composition of PT Angkasa Pura I (Persero)

Issued and Paid-Up Shareholders Shares Ownership Total Share Capital

Government of the 6.414.412.000 100% Rp6.414.412.000 Republic of Indonesia

COMPOSITION OF 20 LARGEST SHAREHOLDERS COMPOSITION OF LESS THAN 5% COMMUNITY SHAREHOLDERS As of 31 December 2019, PT Angkasa Pura I (Persero) was a State-Owned Enterprise whose shares were As of 31 December 2019, PT Angkasa Pura I (Persero) 100% owned by the Republic of Indonesia. Thus, had not become a listed company in the stock there is no information on the composition of 20 market yet. Thus, there was no information on the largest shareholders. composition of less than 5% or more community shareholders . COMPOSITION OF 5% OR MORE SHAREHOLDERS SHAREHOLDING BY BOARD OF COMMISSIONERS As of 31 December 2019, PT Angkasa Pura I (Persero) AND DIRECTORS was a State-Owned Enterprise whose shares were 100% owned by the Republic of Indonesia. As of 31 December 2019, PT Angkasa Pura I (Persero) Information on the composition of 5% or more was a State-Owned Enterprise whose shares shareholders of the Company has been explained were 100% owned by the Republic of Indonesia. in the description of shareholders composition. Thus, there was no Shareholding by the Board of Commissioners and the Board of Directors in PT Angkasa Pura I (Persero), either directly or indirectly.

INFORMATION ON MAIN AND CONTROLING SHAREHOLDER

The Company’s Main and Controlling Shareholder Thus, PT Angkasa Pura I (Persero) does not have is the Government of the Republic of Indonesia, individual Main and Controlling Shareholder. owning 100% of the company’s shares.

Government of the Republic of Indonesia

100%

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 101 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Subsidiaries, Associated Entities and Foundations

In order to increase its non-aeronautical business related fields, such as transportation, hotels and revenue and increase the customer satisfaction property. As of 31 December 2019, PT Angkasa Pura index (CSI) score, PT Angkasa Pura I (Persero) I (Persero) owned five subsidiaries as shown in the has a number of subsidiaries engaged in various following table.

Subsidiaries of PT Angkasa Pura I (Persero) per 31 December 2019

Year of Operational Total Assets Name Business Field Shareholding Establishment Status (Rupiah)

Management of Services Related PT Angkasa to (Cargo & Post), 98,00% 2012 Operating 302.908.237.90 Pura Logistik Warehousing, Regulated Agent, Logistics Business

Hospitality, Lounge, PT Angkasa F&B, Inflight 99,99% 2012 Operating 537.395.635.427 Pura Hotel catering, Travel Management

PT Angkasa Property, Contractor 99,96% 2012 Operating 738.816.757.815 Pura Properti

PT Angkasa ICT, Equipment, 99,81% 2012 Operating 1.393.988.229.422 Pura Support Services, Parking

PT Angkasa Retail travel, F&B, 97,50% 2014 Operating 90.226.171.612 Pura Retail Marketing Services

Subsidiaries

PT Angkasa Pura Logistik

To become an integrated and reliable national logistics services company in Vision Indonesia.

• To provide integrated logistics services that are solutive, professional and Mission innovative for customer satisfaction. • To improve the capability, build employee capacity and prosperity. • To develop synergy with business partners • To maximize values for shareholders and other stakeholders. • To make a positive contribution to society and the environment.

PT Angkasa Pura I (Persero) 102 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

The establishment of the Company has been Pura Logistics is Rp 80,000,000,000 divided into approved by the Board of Commissioners of PT 80,000 shares. Initially, the issued and paid up capital Angkasa Pura I (Persero) set forth in the Decree of of PT Angkasa Pura Logistics was Rp 21,000,000.00. the Board of Commissioners No. 194/DK.AP/2011. An additional paid-in capital of Rp 25,000,000,000 Further, the establishment of PT Angkasa Pura was placed based on the General Meeting of Logistics was based on the Company’s Deed of Shareholders on October 5, 2016. PT Angkasa Pura Establishment Number 01 by Notary Nanda Fauz I (Persero) owns 24,500 shares of its subsidiary with Iwan S.H., M.Kn. dated January 6, 2012. The Deed has par value of Rp 1,000,000 per share. Thus, the total been ratified by the Decree of the Minister of Law value of its holdings is Rp 24,500,000,000 or 98% and Human Rights of the Republic of Indonesia of total shares. The PT Angkasa Pura I (persero) Number AHU-03158.AH.01.01. dated 18 January 2012 Employee Cooperative Center owns the balance and has been published in the State Gazette of the amount of Rp 500,000,000 in shares. Republic of Indonesia No. 32 dated 19 April 2013, Supplement to the State Gazette of the Republic of The latest amendment of the Articles of Association Indonesia No. 10269 (“Deed of Establishment of PT of PT Angkasa Pura Logistics was amended based Angkasa Pura Logistics”). on Deed of Resolutions of the Shareholders No. 08 dated 18 July 2018, drawn up before Notary Nanda PT Angkasa Pura Logistik is engaged in managing Fauz Iwan, S.H., M.Kn. and was approved by the related services (cargo and post), warehousing, Ministry of Law and Human Rights based on Decree regulated agents, and logistics. The authorized No. AHU-AH.01.03-0223815 dated 19 July 2018. capital placed for the establishment of PT Angkasa

Shareholding Composition of PT Angkasa Pura Logistics per 31 December 2019

Shareholder Capital Investment (Rp) Stock Unit Percentage

PT Angkasa Pura I (Persero) 24.500.000.000 24.500 98,00%

Pusat Koperasi Karyawan 500.000.000 500 2,00% PT Angkasa Pura I (Persero)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 103 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

The composition of the Board of Commissioners and Board of Directors of PT Angkasa Pura Logistics per 31 December 2019 is as follows: President Commissioner : Novrihandri Commissioner : Parlindungan Situmorang Commissioner : Marsda (Purn) Bambang Agus Margono Commissioner : M. Basuki Mardianto President Director : Danny P. Thaharsyah Director of Cargo Terminal and Regulated Agent : Ahmad Munir Acting Director for Logistics and Business Development : Danny P. Thaharsyah Finance Director : Ridwan Moeis

PT Angkasa Pura Hotel

To be the best airport-based provider of integrated accommodation and catering Vision services in Indonesia.

• To provide integrated accommodation and catering services for customer Mission satisfaction. • To improve professionalism and shape employee’s hospitality character • To maximize the value of shareholders and support airport service enhancement. • To optimize synergy with business partners, affiliated companies and the governments. • To provide positive contribution to the community and contribute to the development of green airport.

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PT Angkasa Pura Hotel was established upon the total capital of Rp 119,865,000,000. The increase in approval of the Board of Commissioners through the paid-up capital has been notarized under Deed the Decree of the Board of Commissioners No. 192/ No. 01 dated 18 February 2013 by Notary Nanda Fauz DK.API/2011 dated 15 December 2011. PT Angkasa Iwan, S.H., M.Kn. and has been approved by the Pura Hotel was established based on the Deed No. Ministry of Law and Human Rights in its Decree No. 03 by Notary Nanda Fauz Iwan, S.H., M.Kn. dated AHU-12360.ah.01.02 dated 11 March 2013. With the 6 January 2012 and has been ratified through the amendment to the deed, the authorized capital has Decree of the Minister of Law and Human Rights increased to Rp 400,000,000,000 and the paid-up No. AHU-03688.AH.01.01. dated 20 January 2012. capital amounted to Rp 119,904,000,000.

PT Angkasa Pura Hotel is engaged in the business of Furthermore, the authorized and paid up capital hotel operations, lounge, inflight catering, and travel were further amended in 2017 based on the management. This subsidiary was established with deed of amendment to Articles of Association an authorized capital of Rp 120,000,000,000 divided No.16 dated 17 February 2017 from Notary Nanda into 120,000 shares with par value of Rp 1,000,000 Fauz Iwan, S.H., M.Kn. that was approved by the per share. At the beginning of establishment, the Ministry of Law and Human Rights in Decree fully paid up capital was Rp 35,500,000,000. PT No. AHU-0005993.AH.01.02 dated 10 March 2017. Angkasa Pura I (Persero) holds 99.99% shares with The authorized capital of PT Angkasa Pura Hotel 35,460 shares worth a total of Rp 35,460,000,000. increased to Rp 2,000,000,000,000 and the paid- up capital amounted to Rp 649,904,000,000. With Based on the Letter of Approval of the Ministry these changes, the paid up capital of PT Angkasa of State-Owned Enterprise (SOEs) No. S-726/ Pura I (Persero) in its subsidiary amounted to Rp MBU/2012 dated 14 December 2012 concerning the 649,864,000,000. approval of the additional capital injection of PT Angkasa Pura I (Persero) to PT Angkasa Pura Hotel (Subsidiary), the Company has increased its capital contribution by Rp 84,404,000,000, bringing the

Shareholding Composition of PT Angkasa Pura Hotel per 31 December 2019

Shareholder Capital Investment (Rp) Stock Unit Percentage

PT Angkasa Pura I (Persero) 649.864.000.000 649.864 99,99%

Pusat Koperasi Karyawan 40.000.000 40 0,01% PT Angkasa Pura I (Persero)

As of 31 December 2019, the composition of the Board of Commissioners and Board of Directors of PT Angkasa Pura Hotel is as follows: President Commissioner : Adi Nugroho Commissioner : Dadun Kohar Commissioner : Najih Prastiyo Commissioner : Leonardy Putra Negara Siregar President Director : Bendady Hindom Pramono Acting Director of Design, Operations and Marketing : Bendady Hindom Pramono Finance, Personnel and Administration Director : Kukuh

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PT Angkasa Pura Properti

To become a trusted property developer for airport area and its surroundings in Vision Indonesia. Particularly PT Angkasa Pura Property is an Airport City Developer.

• To develop the land owned by the Holding Company according to the market Mission potential and trend by taking into account environmental aspects and services to consumers. • To provide added value to shareholders. • To conduct a professional synergy with business associates. • To build competent human capital having integrity, creativity, and positive values. • To achieve a harmonious relationship with the stakeholders, • To develop property services and other supporting industries.

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PT Angkasa Pura Properti was established based Pura Property increased from Rp 42,000,000,000 on Deed of Establishment No.02 dated 6 January to Rp 168,000,000,000, divided into 168,000 shares 2012 by Notary Nanda Fauz Iwan, S.H., M.Kn. with with par value Rp 1,000,000 per share. PT Angkasa the approval of the Board of Commissioners of Pura I (Persero) owns 99.96% or 167,940 shares of PT PT Angkasa Pura I (Persero) No. 193/DK.API/2011 Angkasa Pura Property. dated 15 December 2011. The establishment of this company has been ratified by the decree of the Minister of Law and Human Rights No. AHU-03704. AH.01.01 dated 20 January 2012.

PT Angkasa Pura Properti is engaged in the property and contractors. Based on Deed No. 16 dated 29 January 2014, the authorized capital of PT Angkasa

Shareholding Composition of PT Angkasa Pura Property per December 31, 2019

Shareholder Capital Investment (Rp) Stock Unit Percentage

PT Angkasa Pura I (Persero) 167.940.000.000 167.940 99,96%

Pusat Koperasi Karyawan 60.000.000 60 0,04% PT Angkasa Pura I (Persero)

The composition of the Board of Commissioners and Board of Directors of PT Angkasa Pura Property per 31 December 2019 is as follows: President Commssioner : Lukman F. Laisa Commissioner : Iskandar Commissioner : Yusfandri Gona President Director : Hendra Lesmana Finance & Administration Director : Dolly A. Prameswari Technical Director : Andiko Surya Widjaya Business Development Director : Dolly A. Prameswari

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PT Angkasa Pura Support

To become an international standard supporting company engaged in the airport and Vision other infrastructure industries.

• To provide superior products/ services with international standards to increase Mission customer satisfaction. • To increase the capacity and capability of Human Resources to encourage sustainable business growth. • To maximize the value of the company on an ongoing basis to improve the welfare of shareholders, employees, and other stakeholders. • To foster synergistic relationships with business partners. • To provide added value and benefits for the community around business environments.

PT Angkasa Pura Support was established based PT Angkasa Pura Support is engaged in the on approval of the PT Angkasa Pura I (Persero) businesses of ICT, equipment, services, and Board of Commissioners pursuant to Decree No. 17/ parking. The authorized capital was set at Rp DK.API/2012 dated 31 January 2012. Establishment 1,000,000,000,000 divided into of 1,000,000 shares of the subsidiary was stipulated in the Deed of with par value of Rp 1,000,000 per share. Of the Establishment of Company No. 03 dated 9 February authorized capital, shares have been issued and 2012 by Notary Nanda Fauz Iwan, S.H. M.Kn. and has paid up amounting to Rp 250,480,000,000, with been ratified by the Decree of the Minister of Law the shareholding of PT Angkasa Pura I (Persero) of and Human Rights No. AHU-08735.AH.01.01 on 20 99.81%. February 2012.

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PT Angkasa Pura Support underwent a change M.Kn. Approved by the Ministry of Law and in the latest articles of association based on the Human Rights based on Decree Number AHU- Deed of Shareholders Decree No. 10 dated 31 0090368.AH.01.02 Year 2019 dated 5 November October 2019 by Notary Nanda Fauz Iwan, S.H., 2019.

Shareholding Composition of PT Angkasa Pura Support per 31 December 2019

Shareholder Capital Investment (Rp) Stock Unit Percentage

PT Angkasa Pura I (Persero) 250.000.000.000 250,000 99.81%

Pusat Koperasi Karyawan 480.000.000 480 0.19% PT Angkasa Pura I (Persero)

The composition of the Board of Commissioners and Board of Directors of PT Angkasa Pura Support per 31 December 2019 is as follows: President Commissioner : Faik Fahmi Commissioner : Pepen Supendi Yusuf Commissioner : Moh. Winarno Commissioner : Nelson Barus President Director : Iwan Hartawan Commercial Operations and Technical Affairs Director : Trikora Harjo Finance and General Affairs Director : Sugiarto Panca K.

PT Angkasa Pura Retail

To become Indonesia’s largest travel retailer providing the highest quality for partners Vision and customers.

• To make customer satisfaction level as a benchmark to keep conducting the best Mission service. • To manage 15% of commercial area within PT Angkasa Pura I (Persero) airport with various business diversification. • To own independent brand within 2 (two) years. • To provide the highest added value to stakeholders both in terms of revenue and service quality. • To become an international-class retail company and obtain regional recognition.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 109 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

PT Angkasa Pura Retail was established based PT Angkasa Pura Retail underwent the latest on notarial deed No. 11 by Notary Nanda Fauz amendment to the articles of association based on Iwan, S.H., M.Kn. dated 23 September 2014 and the Deed of Shareholders Decree No. 06 dated 12 has been approved by the Ministry of Law and November 2019 by Notary Nanda Fauz Iwan, S.H., Human Rights through its Decree No. AHU- M.Kn. Approved by the Ministry of Law and Human 26401.40.10.2014 dated 24 September 2014. Rights based on Decree No. AHU-0094574.AH.01.02 on 15 November 2019. This subsidiary is engaged in commerce and marketing at airports. The authorized capital of PT Angkasa Pura Retail is Rp 200,000,000,000 divided into 200,000 shares with par value of Rp 1,000,000 per share. The issued and paid up capital currently is Rp 50,000,000 or 50,000 shares.

Shareholding Composition of PT Angkasa Pura Retail per 31 December 2019

Shareholder Capital Investment (Rp) Stock Unit Percentage

PT Angkasa Pura I (Persero) 48.750.000.000 48.750 97,50%

Pusat Koperasi Karyawan 1.250.000.000 1.250 2,50% PT Angkasa Pura I (Persero)

As of 31 December 2019, the composition of the Board of Commissioners and Board of Directors of PT Angkasa Pura Retail is as follows: President Commissioner : Devy Suradji Commissioner : Bendandy Hindom Pramono Commissioner : Atje Muhammad Darjan President Director : Edyana Paramitasari Business Development & Marketing Director : Troficiendy Suroso Finance, HR & Administration Director : Umar

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Associated Entity

PT Angkasa Pura I (Persero) currently has two associate entities engaged in airport-related business operations as follows:

Shareholding Composition of PT Angkasa Pura I (Persero) Entities per 31 December 2019

Total Associated Business Year of Operational Assets Shareholding Domicile Entity Field Establishment Status (billion Rupiah)

PT Gapura Ground 7,76% 1998 Operating 1.363 Cengkareng* Angkasa Handling

PT Jasa Marga Highway 8% 2011 Operating 1.891 Bali Bali Tol

*) is the domicile of the branch office of warehousing at Soekarno Hatta Airport, while PT Gapura Angkasa operates in 59 airports (30 branch offices and 29 representative offices) spreading throughout Indonesia.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 111 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

1. PT GAPURA ANGKASA

PT Gapura Angkasa is a company a joint venture Currently, PT Gapura Angkasa provides the of 3 (three) State-Owned Enterprises (BUMN), following services: namely PT Angkasa Pura I (Persero), PT Garuda 1. Representation and Accommodation; Indonesia (Persero) Tbk and PT Angkasa Pura 2. Load Control, communication and Departure II (Persero). As of November 2019, there was Control System (DCS); a change in ownership of the leading share or 3. Unit Load Device (ULD) Control; controller, PT Angkasa Pura II (Persero) increase 4. Passenger and Baggage; the portion of share ownership in Gapura from 5. Cargo and Post Office Mail; the previous 31.25% to 46.62% through rights issue 6. Ramp Service; mechanism. Following the addition this portion 7. Aircraft Servicing; of shares, then PT Angkasa Pura II (Persero) 8. Fuel and Oil; officially becomes a shareholder principal and 9. Aircraft Maintenance; controller at the gate. 10. Flight Operation and Crew Administration; 11. Surface Transport; PT Gapura Angkasa is a ground handling 12. Catering Service; company in Indonesia, which was established 13. Supervision and Administration; to answer the needs of Garuda Indonesia 14. Airport Security; airline to serve ground service handling. After 15. Warehousing and Logistic; officially established, the ground service 16. Ground Handling Consultant; and handling which was originally handled alone by 17. Education and Training as well as Provision Garuda, was taken over by PT Gapura Angkasa. of Ground Handling Experts. Along with the development of the Company, PT Gapura Angkasa, always adhere to global service standards their activities. At present, PT Gapura Angkasa is trusted to serve national and international airlines in 60 airports throughout Indonesia. Gapura’s business activities are also currently growing, from ground handling to warehousing services, executive lounge management, hospitality services, passenger service assistant, and learning center.

At present, PT Gapura Angkasa is trusted to serve national and international airlines internationally in 60 airports throughout Indonesia, with a market distribution covering , Java, Bali, Lombok, , , , Nusa Tenggara East, Papua and .

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2. PT JASA MARGA BALI TOL (JMBT)

PT Angkasa Pura I (Persero) participated in a 59,635 shares or equal to Rp 59,635,000 and other consortium of investment for the construction additional paid-up capital of Rp 14,908,400. of the Nusa Dua - I Gusti Ngurah Rai - Benoa toll road in Bali area based on the approval The toll road management concession was of the Decree of the Minister of State-Owned granted for 45 (forty five) years. The toll road Enterprise No. S-549/MBU/2011 dated 25 October required a construction period of 420 days and 2011. The investment was realized through equity absorbed development funds of Rp 2.4 trillion. share in PT Jasa Marga Bali Tol in accordance The completion of the toll road was relatively in with the Deed of Resolutions of PT Jasa Marga line with the completion of the development of Bali Tol No. 01 dated 11 December 2013 drawn up I Gusti Ngurah Rai Airport, where both facilities before Notary Paulina Siti Suprimulyanti Endah were prepared for the implementation of APEC Putri. PT Angkasa Pura I (Persero) owns 8% or 2013 activity.

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Foundation

PT Angkasa Pura I (Persero) has 2 (two) foundations aimed to guarantee employee welfare, namely:

Shareholding Composition of PT Angkasa Pura I (Persero) Foundation per 31 December 2019

Business Year of Operational Total Assets Name Shareholding Domicile Field Establishment Status (Rp million)

Pension Fund of Pension Angkasa Pura I 100% 1998 Operating 1.037,88 Jakarta Fund (DAPENRA)

Employee Welfare Employee Foundation Benefit 100% 2003 Operating 864,92 Jakarta Angkasa Pura I Foundation (YAKKAP I)

1. DANA PENSIUN Angkasa Pura I (DAPENRA)

Pension Fund of Angkasa Pura I (DAPENRA) post-employment. DAPENRA was established is a Pension Program for employees of PT on 6 October 1998 based on the Decree of the Angkasa Pura I (Persero). The initiative to Board of Directors of PT Angkasa Pura I (Persero) establish a pension fund was undertaken as a Number KEP.1156/KU.60/1998 and ratified by form of Post-Employment Benefit as well as the Decree of the Minister of Finance Number Corporate Social Responsibility to ensure the KEP.393/KM.17/1999 dated 15 November 1999. welfare of its employees during retirement or

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The composition of Supervisory Board of Pension Fund of Angkasa Pura I (DAPENRA) per 31 December 2019 is as follows: Chairman : Novrihandri (Representative of Employer) Member : Adi Nugroho (Representative of Employer) Member : Milda (Representative of Active Participant)

The composition of DAPENRA Board is as follows: President Director : Safrizal Memberships and Finance Director : Purwanto

2. YAYASAN KESEJAHTERAAN KARYAWAN Angkasa Pura I (YAKKAP I)

Employee Welfare Foundation Angkasa Pura Welfare Foundation Angkasa Pura I (YAKKAP I) I (YAKKAP I) is a foundation in the social and with the latest amendment on the latest Articles humanitarian field to improve the welfare of Association announced in the State Gazette of of Participants of Anuity Program, Health the Republic of Indonesia Number 68 dated 25 Maintenance Assistance Program, and other August 2006, Supplement to the State Gazette of assistance programs. This Foundation was the Republic of Indonesia Number 550 of 2006. established by PT Angkasa Pura I (Persero) in 2006 The Deed has been ratified by the Decree of the with an authorized capital of Rp 101,117,437,230. Minister of Law and Human Rights No. C.883. The establishment of the Foundation was set HT.01.05.TH 2006 dated 5 May 2006. forth in the Deed of Establishment of Employee

The composition of Trustee, Supervisors, and Administrators of YAKKAP I as of end-2019 is as follows: Trustee : Adi Nugroho (Human Capital and General Affairs Director) Supervisor : Imron Qodari : Rusli Amrin : Eppy Dhanianto Wibowo Administrators (Member) : M. Mardiath (Member) Administrators Chairman : Irwan Garniwa Secretary : Tris Gunarso Treasurer : Wisnu Darmojo

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Chronological Issuance of Shares

The shares of PT Angkasa Pura I (Persero) are 100% number of shares, par value, offer price from the owned by the Government of the Republic of initial listing to the end of the financial year and the Indonesia with the total issued and paid-up shares name of the Stock Exchange in which the company’s amounting to Rp 6,414,412,000,000 or 6,414,412 shares are listed. shares. As of 31 December 2019, PT Angkasa Pura I (Persero) had not listed any of their shares on the The chronology of the Company’s establishment and Indonesia Stock Exchange. Therefore, this Annual the Issuance of the Company’s shares is summarized Report contains no information on the share listing, as follows:

Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

1 Government - The transfer of the - Regulation Number form of Public 5 of 1992 Company (PERUM) Dated 4 February Angkasa Pura I into 1992 a Limited Liability Company (Persero)

2 Government - The addition of The addition of Capital investment Regulation Number Capital Investment of the State of the Republic of 48 of 1992 of the State of Indonesia at Adi Sumarmo Airport Dated 29 August the Republic of in Surakarta, Adisutjipto Airport 1992 Indonesia into in Yogyakarta and Syamsuddin the Share Capital Noor Airport in Banjarmasin into of Angkasa Pura I the share capital of Angkasa Pura I (Persero) (Persero).

The value of the additional State Capital Investment shall be stipulated by the Minister of Finance based on the calculation performed jointly by the Ministry of Finance and Ministry of Transportation

3 Deed of Ratified by the Minister - It has been announced and Establishment of of Justice Decree No. published in the State Gazette of a Limited Liability C2-2470.HT.01.01.Th.93 the Republic of Indonesia dated 29 Company Angkasa dated 24 April 1993 June 1993, Number 52, Supplement Pura I (Persero) No. to the State Gazette of the Republic 1 dated 2 January of Indonesia Number 2914 1993 as Amended by Deed of Repair No. 95 dated 19 March 1993 (Deed of Establishment) by Notary Muhani Salim S.H

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

4 Deed of Transfer Ratified by the Minister - Transfer of rights to shares from of Rights to Shares of Justice Decree No. Mr. Drs. Anwar Djanah (Head of Number 2 dated 2 C2-2470.HT.01.01.Th.93 Administration of State-Owned January 1993 with dated 24 April 1993 Enterprises) to Mr. Soedjono Notary Muhani Salim Kramadibrata (Secretary General of S.H. the Department of Transportation acting for and on behalf of the Republic of Indonesia), namely all existing rights for use and exercise by Mr. Drs. Anwar Djanah for 1 (one) priority share with par value of Rp 1,000,000.00 in PT Angkasa Pura I (Persero)

5 Government - The addition of The transfer of Polonia - Medan Regulation No. 26 of Capital Investment Airport Commercial Development 1994 of the State of of a Limited Liability Company Dated 30 August the Republic of (PERSERO) PT Angkasa Pura I 1994 Indonesia into amounts to Rp 24,804,355,003.85 the Share Capital and is stipulated as Addition of the of a Limited State Capital Investment into the Liability Company Share Capital of Limited Liability (PERSERO) Angkasa Company (PERSERO) Angkasa Pura II Pura II

6 Government - The addition of The addition of Capital Investment Regulation No. 38 of Capital Investment of the State of the Republic of 1995 of the State of Indonesia at Achmad Yani Airport Dated 6 November the Republic of in Semarang, Pattimura Airport 1995 Indonesia into in Ambon and Selaparang Airport the Share Capital in Lombok into the Share Capital of a Limited of a Limited Liability Company Liability Company (PERSERO) Angkasa Pura I (PERSERO) Angkasa amounting to Rp 76,535,997,213.89 Pura I

7 Government - The addition of The addition of Capital Investment Regulation No. 2 of Capital Investment of the State of the Republic of 1997 of the State Indonesia at Ngurah Rai Airport Dated 21 January the Republic of in Bali, Sepinggan Airport in 1997 Indonesia into Balikpapan, Sam Ratulangi Airport the Share Capital in Manado, Frans Kaisiepo Airport of a Limited in Biak, Adisutjipto Airport in Liability Company Yogyakarta, Adi Sumarmo Airport (PERSERO) Angkasa in Surakarta and Syamsudin Pura I Noor Airport in Banjarmasin into the Share Capital of a Limited Liability Company (PERSERO) Angkasa Pura I amounting to Rp 142,553,972,767.68

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

8 Deed of a. Received and - The reported changes are Article 10 Amendment to listed in the report paragraph (1), Article 15 paragraph the Articles of on amendments (1) and paragraph (4) Association of the to the Articles Limited Liability of Association Approved by the GMS to amend: Company PT Number C2- i. change in the term of Angkasa Pura I No. 15 25829 HT.01.04. establishment of the dated 16 April 1998 as TH.98 dated 19 Company; amended by Deed of November 1998 ii. change in the purposes and Repair No. 30 dated b. Approved by the goals of the Company; 18 September 1998 Minister of Justice iii. reduction of the authorized (Deed No. 15/1998), of the Republic capital of the Company from by Notary Imas of Indonesia of Rp 5,250,000,000,000.00 to Rp Fatimah S.H. the Directorate 3,700,000,000,000.00; General of Law iv. Reduction of paid up capital and Legislation from Rp 1,050,000,000,000.00 pursuant to to Rp 925,000,000,000.00; Decree No. C2- v. Dismissal of Priority Shares in 25830 HT.01.04. the Articles of Association; and TH.98 dated 19 vi. Amendment and adjustment November 1998 of all the Articles of Association of the Company in accordance with Law No. 1 of 1995 concerning Limited Liability Companies

It has been announced and published in the State Gazette of the Republic of Indonesia dated 22 June 1999, Number 50, Supplement Number 3740.

9 Government - The addition of The addition of Capital Investment Regulation No. 40 Capital Investment of the State of the Republic of of 1999 of the State of Indonesia into Share Capital Dated 26 May 1999 the Republic of of a Limited Liability Company Indonesia into Share (PERSERO) PT Angkasa Pura I Capital of a Limited in the form of airport facilities at Liability Company Ngurah Rai Airport, Hasanuddin (PERSERO) PT Airport, Sepinggan Airport, Sam Angkasa Pura I Ratulangi Airport, Adi Sutjipto Airport, Adisumarmo Airport, Selaparang Airport, Achmad Yani Airport, Pattimura Airport, Frans Kaisiepo Airport and Syamsudin Noor Airport, whose construction was derived from the State Budget for Financial Year 1996-1997 amounting to Rp 198,786,985,007.86

10 Government - The addition of The addition of Capital Investment Regulation No. 35 of Capital Investmnet of the State of the Republic of 2000 of the State of Indonesia into Share Capital Dated 7 June 2000 the Republic of of a Limited Liability Company Indonesia into Share (PERSERO) PT Angkasa Pura I Capital of a Limited in the form of all State Assets Liability Company embedded in El Tari Airport – (PERSERO) Angkasa Kupang, Pura I Province amounting to Rp 28,157,871,692.81

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

11 Government - Addition of Capital Addition of Capital Investment Regulation No. 19 of Investment of of the State of the Republic of 2002 the State of Indonesia into Share Capital Dated 23 April 2002 the Republic of of a Limited Liability Company Indonesia into Share (PERSERO) PT Angkasa Pura I in Capital of a Limited the form of land, buildings and Liability Company supporting facilities at Ngurah (PERSERO) Angkasa Rai Airport in Bali, Juanda Airport Pura I in Surabaya, Hasanuddin Airport in Ujung Pandang, Sepinggan Balikpapan, Sam Ratulangi Airport in Manado, Frans Kaisiepo Airport in Biak, Adisutjipto Airport in Yogyakarta, Adisumarmo Airport in Surakarta, Achmad Yani Airport in Semarang, Syamsuddin Noor Airport in Banjarmasin, Selaparang Airport in and Pattimura Airport in Ambon whose construction and procurement was derived from the State Budget for Financial Year 1992/1993 to Financial Year 1998/1999 and amounting to Rp 37,164,682,024,51

12 Government - Reduction of Reduction of Capital Investment Regulation No. 18 of Capital Investment of the State of the Republic of 2004 of the State of Indonesia in a Limited Liability Dated 22 June 2004 the Republic Company (PERSERO) PT Angkasa of Indonesia Pura I, which is part state assets in a Limited embedded in the Share Capital of a Liability Company Limited Liability Ccompany (Persero) (PERSERO) PT PT Angkasa Pura I, namely the Angkasa Pura I former buillding of head office of a Limited Liability Company (Persero) PT Angkasa Pura I (ex terminal A, VIP Room and AMC Tower) covering an area of 9,795 m2 and Dharma Wanita Building covering an area of 192 m2

13 Deed of Resolutions Approved by the - This AGM approved: of the Minister Minister of Law a. the addition of capital of State-Owned and Human Rights investment of the State of Enterprises of pursuant to the Decree the Republic of Indonesia the Republic of No. W7-08937HT.01.04- into the Share Capital of the Indonesia in the TH.2007 dated 14 Company amounting to Rp General Meeting August 2007 875,000,000,000.00 and the of Shareholders of issued/paid up capital of the the Company No. 2 Company originally from Rp dated 9 August 2007 925,000,000,000.00 to Rp (Deed No. 2/2007) of 1,800,000,000,000.00 Notary Nanda Fauz b. an increase in the authorized Iwan, S.H, M.Kn. capital of the Company from Rp 3,700,000,000,000.00 to Rp 7,000,000,000,000.00

It has been announced and published in the State Gazette of the Republic of Indonesia dated 7 September 2007, Number 72, Supplement Number 9120.

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

14 Deed of Resolutions Approved by the - This GMS approved upon the of Shareholders Minister of Law change of the purposes and Outside of the and Human Rights objectives as well as business General Meeting pursuant to the Decree activities and amendments to the of Shareholders of No. AHU-64347. Company’s Articles of Association the Company No. AH.01.02.of 2008 dated as a whole to conform with Law 35 dated 15 August 16 September 2008 No. 19 of 2003 concerning State- 2008 (Deed No. Owned Enterprises, Law No. 40 of 35/2008) of Notary 2007 concerning Limited Liability Petrus Suandi Halim, Companies, and Government S.H. Regulation No. 45 of 2005 concerning the Establishment, Management, Supervision and Dissolution of State-Owned Enterprises

It has been announced and published in the State Gazette of the Republic of Indonesia dated 4 November 2008, Number 89, Supplement Number 22475

15 Deed of Resolution It has been received - This GMS approved upon the in the Company’s and listed within in amendment to the provision of Meeting No. 34 the Legal Entity Article 11 of the Company’s Articles dated 27 August Administration of Association by revoking the 2009 (Deed No. System database of provisions of paragraph 12 of the 34/2009) by Notary the Ministry of Law Article of Association concerning Petrus Suandi Halim, and Human Rights the duties, authority and S.H. pursuant to the obligations of directors. Letter of Receipt of Notification of Change It has been announced and in Company Data No. published in the State Gazette of AHU-AH.01.10-17649 the Republic of Indonesia dated dated 13 October 2009 10 August 2010, Number 64, Supplement Number 943

16 Government - The addition of The addition of Capital Investment Regulation No. 76 Equity Participation of the Republic of Indonesia of 2011 of the Republic into the share capital of Limited Dated 29 December of Indonesia into Liability Company (PERSERO) 2011 the Share Capital PT Angkasa Pura I originating of the Limited from State-Owned Assets at Liability Company the Ministry of Transportation (PERSERO) PT procured by the State Budget Angkasa Pura I (APBN) for Financial Year 1997- 1998, 1999/2000 amounting to Rp 1.388,244,029,123,52

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

17 Deed of Statement Approved by the - This GMS approved: on the Meeting Minister of Law i. an increase in the authorized Decision and and Human Rights capital of the Company from Shareholders’ pursuant to the Decree Rp 7,000,000,000,000.00 to Rp Decisions Made No. AHU-46777. 12,000,000,000,000.00. Outside the AH.01.02.of 2012 dated 3 ii. the expenditure/placement Company’s Meeting September 2012 of shares that are still in the No. 5 dated 15 form of deposits (portfolio) August 2012 (Deed amounts to 1,388,245 (one No. 5/2012) of Notary million three hundred and Utiek Rochmuljati eighty eight thousand two Abdurachman, S.H., hundred and forty five) M.Li., M.Kn. shares, each share with par value of Rp 1,000,000.00, so that the total worth is Rp 1,388,245.000,000.00. iii. addition of Capital Investment of the Republic of Indonesia into the Company’s capital amounting to Rp 1,388,245,000,000.00 iv. increase in initial issued and paid-up capital from Rp 1,800,000,000,000.00 to Rp 3,188,245,000,000.00

It has been announced and published in the State Gazette of the Republic of Indonesia dated 19 October 2012, Number 84, Supplement Number 62059

18 Deed of Statement It has been received - This GMS approved: on the Approval of and listed in the Legal i. expenditure or placement the Minister of State- Entity Administration of shares that are still in the Owned Enterprises System database form of deposits (portfolio) in the Company’s of the Ministry of amounts to 300,000 (three General Meeting of Law and Human hundred thousand) shares, Shareholders No. Rights pursuant to each share with par value 2 dated 16 January the Letter of Receipt of Rp 1,000,000.00, so 2013 (Deed No. of Notification that the total worth is Rp 2/2013) of Notary of Amendment 300,000,000,000.00 Nanda Fauz Iwan, to the Articles of ii. addition of Capital Investment S.H., M.Kn. Association No. AHU- of the Republic of Indonesia in AH.01.10-02672 dated 31 the Company, amounting to January 2013 Rp 300,000,000,000.00 iii. increase in issued and paid up capital from Rp 3,188,245,000,000.00 to Rp 3,488,245,000,000.00.

It has been announced and published in the State Gazette of the Republic of Indonesia dated 25 March 2014, Number 24, Supplement Number 255/L

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

19 Government - The addition of The addition of Capital Investment Regulation No. 8 of Equity Participation of the Republic of Indonesia into 2014 of the Republic the share capital of the Limited Dated 12 February of Indonesia into Liability Company (PERSERO) PT 2014 the Share Capital Angkasa Pura I, from the diversion of the Limited of State-Property in the Ministry Liability Company of Transportation procured by (PERSERO) Angkasa State Budget for Financial Year Pura I 1991/1992, 1992/1993, 1994/1995, 1997/ 1998, 1998/1999, 2000, 2002 2004, 2005, 2006, 2007, 2008, 2009, 2010 and 2011 in the amount of Rp 2,926,166.059,117.86

20 Deed of Resolutions It has been received - This GMS approved: of the Minister and listed in the Legal i. expenditure or placement of State-Owned Entity Administration of shares that are still in the Enterprises in System database of form of deposits (portfolio) the Company’s the Ministry of Law of 2,926,167 shares, each General Meeting of and Human Rights share with par value of Shareholders No. pursuant to Letter of Rp 1,000,000.00, so that S-504/MBU/08/2015 Receipt of Notification the total worth is Rp concerning the of Amendment 2,926,167,000,000.00. Addition of Paid- to the Articles of ii. the addition of Capital Up Capital and Association No. AHU- Investment of the Republic of Amendment to the AH.01.03-0972301 dated Indonesia amounting to Rp Company’s Articles 15 October 2015 2,926,167,000,000.00. of Association No. 11 iii. increase in issued/ paid dated 22 September up capital from Rp 2015 (Deed No. 3,488,245,000,000.00 to Rp 11/2015) of Notary 6,414,412,000,000.00 Julius Purnawan, S.H., M.Sc. It has been announced and published in the State Gazette of the Republic of Indonesia dated 27 November 2015, Number 95, Supplement Number 584/L

21 Government - The addition of The addition of Capital Investment Regulation No. 25 of Equity Participation of the Republic of Indonesia into 2016 of the Republic the share capital of Limited Liability Dated 27 June 2016 of Indonesia into Company (PERSERO) PT Angkasa the Share Capital Pura I from the diversion of the of Limited Liability State Property of the Ministry of Company (Persero) Transportation procured by State Angkasa Pura I Budget for Financial Year 2008, 2009, 2010, 2011 and 2012, with a total value of Rp 255,096,706,122,60

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Legal Basis (Government No Ratification Concerning Remark Regulation (GR) or Deed)

22 Deed of Resolution It has been received - Change in Types of Shares and Amendment of the Minister and listed in to the Company’s Articles of Association, as of State-Owned the Legal Entity follows: Enterprises in the Administration a. set changes in types of shares to PT General Meeting of System database of Angkasa Pura I (Persero) from no series Shareholders No. the Ministry of Law to Series A Dwiwarna shares and Series B 55 dated 27 March and Human Rights shares; 2019 of Notary in pursuant to the b. determine the rights of the Series A Nanda Fauz Iwan Letter of Receipt Dwiwarma shares holders that are not S.H. M.kn. of Notification owned by the Series B shares holders; of Amendment c. determine authorized and paid up capital to the Articles of of the Company as follows: Association No. 1. Authorized Capital of Rp AHU-.AH-01.03- 12,000,000,000,000.00, divided into 0175898 dated 28 12,000,000 shares, consisting of: March 2019 a) 1 Series A Dwiwarna share with par value of Rp 1,000,000.00; b) 11,999,999 Series B shares, each with par value of Rp 1,000,000.00 or total value of Rp 11,999,999,000,000.00 2. Paid-up Capital of Rp 6,414,412,000,000.00 comprising of: a) 1 Series A Dwiwarna share, with par value of Rp1,000,000.00; b) 6,414,411 Series B shares, each with a par value of Rp 1,000,000.00 d. Amend to Article 4 paragraph (1) and paragraph (2), add one paragraph to Article 4 paragraph (11), amend Article 5 paragraph (1), paragraph (2), paragraph (3) and paragraph (4), add two paragraphs to Article 5 paragraph (5) and paragraph (6), amend Article 10 paragraph (7), paragraph (10) and paragraph (25), add one point to Article 11 paragraph (2) point b, namely number 19), amend Article 11 paragraph (10) points b and i, and add two points to Article 11 paragraph (10), namely p and q, amend Article 14 paragraph (10), paragraph (11) and paragraph (23), add one paragraph to Article 20, namely paragraph (5), changing Article 23 paragraph (5), amend Article 26 paragraph (1), paragraph (2), paragraph (3) and paragraph (5), amend Article 28 paragraph (3) and paragraph (5), add one paragraph to Article 28, namely paragraph (12), add one paragraph to Article 29, namely paragraph (7), amend Article 30 paragraph (13) and add one paragraph to Article 30, namely paragraph (14) to the Articles of Association of PT Angkasa Pura I (Persero)

It has been announced and published in the State Gazette of the Republic of Indonesia dated 30 April 2019, Number 35, Supplement Number 14248

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Chronology of Issuance and Listing of Other Securities

The initial offering of PT Angkasa Pura I (Persero) on the Indonesia Stock Exchange (IDX) dated 23 bonds was conducted in 2016 based on Registration November 2016 pursuant to the Announcement of Statement No. S.677/D.04/2016 dated 10 November Listing of Bond I 2016 and Sukuk Ijarah I 2016 of PT 2016 from the Financial Services Authority (OJK). Angkasa Pura I (Persero) No. Peng-P-00950 / BEI. The initial offering comprised Bond I amounted PP2 / 11-2016 dated 22 November 2016. to Rp 2,500,000,000 and Sukuk Ijarah I amounted to Rp 500,000,000. The bonds have been listed

Chronology of Issuance and Listing of Bonds

Chronology of Issuance of Bonds of PT Angkasa Pura I (Persero)

Electronic Rating Distribution Date Listing Date on the Amount of No Description Tenor Currency Maturity Date Interest Rate Payment Status Trustee on the Stock Stock Exchange Bonds (billion) 2019 2018 Exchange

1 Bond I Angkasa Pura I 22 November 2016 23 November 2016 5 Years Rp 622 22 November 2021 8.10% The 1st to 8th interest has been paid idAAA idAAA PT Bank Year 2016 A Series Mega,Tbk

2 Bond I Angkasa Pura 22 November 2016 23 November 2016 7 Years Rp 389 22 November 2023 8.40% The 1st to 8th interest has been paid idAAA idAAA PT Bank I Year 2016 B Series Mega,Tbk

3 Bond I Angkasa Pura I 22 November 2016 23 November 2016 10 Years Rp 1,489 22 November 2026 8.55% The 1st to 8th interest has been paid idAAA idAAA PT Bank Year 2016 C Series Mega,Tbk

Chronology of Listing of Sukuk

Chronology of Issuance of Sukuk Ijarah I of PT Angkasa Pura I (Persero)

Electronic Rating Installment per Distribution Date Listing Date on the Total Sukuk No Description Tenor Currency Maturity Date Year Payment Status Trustee on the Stock Stock Exchange (billion) (in million) 2019 2018 Exchange

1 Sukuk Ijarah A Series 22 November 2016 10 November 2016 5 tahun Rp 268 22 November 2021 21,708 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

2 Sukuk Ijarah B Series 22 November 2016 10 November 2016 7 tahun Rp 55 22 November 2023 4,620 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

3 Sukuk Ijarah C Series 22 November 2016 10 November 2016 10 tahun Rp 177 22 November 2026 15,133 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

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Electronic Rating Distribution Date Listing Date on the Amount of No Description Tenor Currency Maturity Date Interest Rate Payment Status Trustee on the Stock Stock Exchange Bonds (billion) 2019 2018 Exchange

1 Bond I Angkasa Pura I 22 November 2016 23 November 2016 5 Years Rp 622 22 November 2021 8.10% The 1st to 8th interest has been paid idAAA idAAA PT Bank Year 2016 A Series Mega,Tbk

2 Bond I Angkasa Pura 22 November 2016 23 November 2016 7 Years Rp 389 22 November 2023 8.40% The 1st to 8th interest has been paid idAAA idAAA PT Bank I Year 2016 B Series Mega,Tbk

3 Bond I Angkasa Pura I 22 November 2016 23 November 2016 10 Years Rp 1,489 22 November 2026 8.55% The 1st to 8th interest has been paid idAAA idAAA PT Bank Year 2016 C Series Mega,Tbk

Electronic Rating Installment per Distribution Date Listing Date on the Total Sukuk No Description Tenor Currency Maturity Date Year Payment Status Trustee on the Stock Stock Exchange (billion) (in million) 2019 2018 Exchange

1 Sukuk Ijarah A Series 22 November 2016 10 November 2016 5 tahun Rp 268 22 November 2021 21,708 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

2 Sukuk Ijarah B Series 22 November 2016 10 November 2016 7 tahun Rp 55 22 November 2023 4,620 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

3 Sukuk Ijarah C Series 22 November 2016 10 November 2016 10 tahun Rp 177 22 November 2026 15,133 The 1st to the 8th ijarah idAAA(sy) idAAA(sy) PT Bank installment of has been paid Mega,Tbk

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Name and Address of Supporting Agency/ Profession

Role Name of Agency Services Provided

TRADING AND STOCK/BOND PT Bursa Efek Indonesia Securities trading services LISTING INFORMATION Gedung Bursa Efek Indonesia, Tower 1 Jl. Jend. Kav. 52-53 Jakarta 12190, Indonesia Tel : (62-21) 5150515 Fax : (62-21 5)154153 Website : www.idx.co.id Email: [email protected] UNDERWRITER PT Mandiri Sekuritas Securities marketing and Plaza Mandiri Lantai 28 sales services Jl. Jend. Gatot Subroto Kav. 36-38, Jakarta 12190 Tel : (62-21) 526 3445 Fax : (62-21) 526 3507 Website : www.mandirisekuritas.co.id Email: [email protected] PT Danareksa Sekuritas Securities marketing and Gedung Danareksa, Jl. Medan Merdeka Selatan No. 14 sales services Jakarta 10110, Indonesia Tel : (62-21) 29 555 777 Fax : (62-21) 350 1724 / 1725 Website : www.danareksa.com Email: [email protected] PT BCA Sekuritas Securities marketing and Menara BCA Lantai 41 Grand Indonesia sales services Jl. MH. Thamrin No. 1, Jakarta 10310 Tel : (62-21) 2358 7222 Fax : (62-21) 2358 7290 / 7300/ 7250 Website : www.bcasekuritas.co.id Email: [email protected] PT Bahana Securities Securities marketing and Graha CIMB Niaga, Lantai 19 sales services Jl. Jend. Sudirman Kav.58, Jakarta 12190 Tel : (62-21) 2505081 Fax : (62-21) 5225869 Website : www.bahana.co.id Email: [email protected] PUBLIC ACCOUNTANT OFFICE Purwantono, Sungkoro, & Surja Audit service on financial Gedung Bursa Efek Indonesia Tower 2 Lantai 7, Jl. Jend. statements for 2018 and 2019 Sudirman Kav. 52-53 Jakarta 12190 and fees paid in: Tel : (021) 5289 5000 2018: Rp 2,962,294,500 Fax : (021) 5289 4100 2019: Rp 2,597,430,000 Website : www.ey.com/id SECURITY RATING AGENCY PT Pemeringkat Efek Indonesia (Pefindo) Provide rating assessment to Panin Tower - Senayan City, 17th Floor companies Jl.Asia Afrika Lot.19 Jakarta 10270, Indonesia Tel : (62-21) 7278 2380 Fax : (62-21) 7278 2370 Website:www.pefindo.com Email: [email protected] CUSTODIAN PT Kustodian Sentral Efek Indonesia Custodian for security Gedung Bursa Efek Indonesia, Tower 1, Lt. 5 transactions within the Jl. Jend Sudirman Kav 52-53 Jakarta 12190 Capital Market Tel : (62-21) 5299-1099 Fax : (62-21) 5299-1199 Website : www.ksei.co.id Email: [email protected]

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Role Name of Agency Services Provided

NOTARY Fathiah Helmi, S.H., Draw up deeds, including Graha Irama, Lantai 6, Suite C trusteeship agreements, Jl. HR Blok X-1 Kav.1&2 Kuningan debt acknowledgement Jakarta 12950 – Indonesia and securities underwriting Tel : (021) 5290 7304/6 agreements, as well as deeds Fax : (021) 526 1136 of amendment Website : www.notaris-fathiahhelmi.com Email: [email protected] TRUSTEE PT Bank Mega Tbk Represents the interests of Menara Bank Mega, Lantai 16 bondholders/sukuk ijarah Jl. Kapten P. Tendean No. 12 - 14A, Jakarta 12790 holders, both inside and Telp : (021) 79175000 outside the court in taking Fax : (021) 7990720 legal actions related to the Website : www.bankmega.com rights and obligations of Email: [email protected] bondholders/sukuk ijarah holders in accordance with the terms of the emission LEGAL CONSULTANT Marsinih Martoatmodjo Iskandar Kusdihardjo (“MMIK”) Legal consultation services Office 8, 15th Floor Suite H on the issuance of securities Jalan Jend. Sudirman Kav. 52-53, Jakarta 12190, Indonesia emission Tel : (021) 2933-2858, 2933-2859 Fax : (021) 2933-2857 Website : www.mmiklaw.co.id Email: [email protected]

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Company Group Structure

Republic of Indonesia

100%

98,00% 99,97% 99,61% 100% 100%

Subsidiaries

99,96% 97,50%

Associated Entity As of 2019, PT Angkasa Pura I (Persero) is directly owned by the Government of the Republic of Indonesia as the Main and 10% Controlling Shareholder. The Company owns five subsidiaries and two pension fund institutions, as well as investments in two companies with a maximum shareholding of ten percent. PT Angkasa Pura I (Persero) does not have a Parent Entity, Joint Venture Company, and Special Purpose Vehicle (SPV). 8%

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Awards and Certification

Awards INTERNATIONAL AWARDS

7 March 2019 7 March 2019 Airport Service Quality Airport Service Quality (ASQ) Award 2019 (ASQ) Award 2019

The Best Airport in Asia-Pacific with 5-15 Million The Best Airport in the Field of Environment and Passengers Per Year Ambience with 5-15 Million Passengers Per Year Organizer: Organizer: Airport Council International Airport Council International

7 March 2019 7 March 2019 Airport Service Quality Airport Service Quality (ASQ) Award 2019 (ASQ) Award 2019

Best Airport in the Field of Customer Service with 5-15 The Best Airport in the Field of Infrastructure and Million Passengers Per Year Facilitation with 5-15 Million Passengers Per Year Organizer: Organizer: Airport Council International Airport Council International

23 November 2019 14 June 2019 Asia Sustainability HR Asia Award 2019 Reporting Rating 2019

“Best Companies to Work for in Asia 2019 - Indonesia The Best Airport in the Field of Infrastructure and Chapter” Facilitation with 5-15 Million Passengers Per Year Organizer: Award Name: Majalah HR Asia & Business Media International “GOLD” rating Organizer: National Center for Sustainability Reporting

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NATIONAL AWARDS

22 February 2019 16 March 2019 Indonesia Digital Award 2019 Indonesia Spokesperson of The Year Award 2019

“Innovative Company in Building the Airport Operations Best Spokesperson in Building a Positive Image of Airport Control Center” Transportation and Warehousing Management Modernization Category Organizer: Penyelenggara: Warta Ekonomi Magazine Warta Ekonomi Magazine

29 March 2019 29 March 2019 National Occupational Health and Safety Month National Occupational Health and Safety Month Anniversary 2019 Anniversary 2019

Zero Accident Award I Gusti Ngurah Rai Airport - Bali Zero Accident Award Sultan Aji Muhammad Sulaiman Organizer: Sepinggan Airport - Balikpapan Ministry of Manpower of the Republic of Indonesia Organizer: Ministry of Manpower of the Republic of Indonesia

29 March 2019 29 March 2019 National Occupational Health and Safety Month National Occupational Health and Safety Month Anniversary 2019 Anniversary 2019

Zero Accident Award Sultan Hasanudin Airport - Zero Accident Award Bandara Sam Ratulangi Airport - Makassar Manado Organizer: Organizer: Ministry of Manpower of the Republic of Indonesia Ministry of Manpower of the Republic of Indonesia

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29 March 2019 29 March 2019 SOE Awards 2019 SOE Awards 2019

Best SOE Governance Award Rank Second in the Category of SOE with Best Growth Organizer: Strategy BUMN Track Magazine Organizer: BUMN Track Magazine

29 March 2019 8 April 2019 SOE Awards 2019 Indonesia Maju Award 2018-2019

The Best CEO in the Category of Driving Execution The Most Visionary CEO in BUMN Merah Putih Category Organizer: (Faik Fahmi) BUMN Track Magazine Organizer: Rakyat Merdeka Newspaper & Warta Ekonomi Magazine

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12 April 2019 12 April 2019 HR Excellence Award 2019 HR Excellence Award 2019

‘A’ Rating in “HR Transformation” Category ‘A’ Rating in “Learning and Development Strategy” Organizer: Category SWA Magazine Organizer: SWA Magazine

22 April 2019 12 April 2019 Award for HIV/AIDS Prevention and Control in HR Exellence Award 2019 The Workplace Program

Ministry of Manpower of the Republic of Indonesia ‘A’ Rating in “Compensation and Benefit” Category Organizer: Organizer: Ministry of Manpower of the Republic of Indonesia SWA Magazine

19 July 2019 16 May 2019 Homecoming Season 2019 Indonesia Human Capital Award (IHCA) V 2019 Flow Management Award

- “Best in People Transformation” “Homecoming Season 2019 Flow Management Award” - “The Most Outstanding Human Capital Director 2019” Organizer: (Adi Nugroho) Presidential Staff Office, DIKP Ministry of Communications Organizer: and Informatics, and Central Information Commission Economic Review Magazine (KIP)

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22 August 2019 22 August 2019 Top GRC 2019 Top GRC 2019

The Most Committed GRC Leader 2019 (Faik Fahmi) “Top GRC 2019 #3 Stars” Organizer: Organizer: Top Business Magazine, National Committee on Top Business Magazine, National Committee on Governance Policy (KNKG), Indonesian Risk Management Governance Policy (KNKG), Indonesian Risk Management Professional Association (IRMAPA), Indonesian Institute Professional Association (IRMAPA), Indonesian Institute of Professional Compliance (ICoPI), and Asia Business of Professional Compliance (ICoPI), and Asia Business Research Center Research Center

19 September 2019 26 September 2019 Mental Revolution Awards 2019 RRI SOE Award 2019

“The Best Disciplined SOE” “Gold - Social Economy Contribution Award” “The Best SOE Leader of the Mental Revolution of Mental “Gold - Customer Service Quality“ Revolution Program (Faik Fahmi)” Organizer: Organizer: Ministry of State-Owned Enterprise BUMN Track Magazine

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9 October 2019 10 October 2019 Maritime and Fisheries Law Enforcement Award The 6th Indonesia Law Awards 2019

Maritime and Fisheries Law Enforcement Award In-House Corporate Legal Team Category - In-house Organizer: Transportation and Logistics Minister of Maritime Affairs and Fisheries Organizer: Asian Legal Business

25 October 2019 25 October 2019 Public Relations Media Award 2019 Infobank Award

The Best CEO – Category of Accessibility Development “The Best SOE/ROE in the Category of Press Conference/ for Tourism 2019 News” Organizer: “The Best SOE/ROE in the Category of Social Media” Infobank Magazine Organizer: Public Relations of the Ministry of Communication and Informatics of the Republic of Indonesia

28 October 2019 5 November 2019 BUMN Award 2019 SOE Branding and Marketing Award 2019

“Top 10 SOE Business Expansion” “The Best Marketing Innovation” Organizer: Organizer: Warta Ekonomi Magazine BUMN Track Magazine

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5 November 2019 5 November 2019 BUMN Branding and Marketing Award 2019 BUMN Branding and Marketing Award 2019

“The Best BUMN Chief Marketing Officer” (Devy Suradji) “The Best Branding BUMN” Organizer: Organizer: BUMN Track Magazine BUMN Track Magazine

4 December 2019 6 December 2019 Industry Marketing Champion and Marketeer of The Year (MOTY) Award 2019 Bandara Awards 2019

“The Best Industry Marketing Champion 2019 for Bandara I Gusti Ngurah Rai Bali - “The Best Airport of The Infrastructure and Utilities Sector” (Faik Fahmi) Year” Organizer: Organizer: MarkPlus Magazine & Indonesia Marketing Association Bandara Magazine (IMA)

12 December 2019 16 December 2019 Investor Awards 2019 Indonesia Most Admired CEO 2019

“The Best Non-Financial SOE 2019 in the Transportation & “Most Admired CEO 2019” - Kategori Excellent Leadership Infrastructure Category” for Airports Rebranding into World Class Image (Faik Organizer: Fahmi) Investor Magazine Organizer: Warta Ekonomi Magazine

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Regional Awards

24 September 2019 3 October 2019 Balkondes Award ICSB Indonesia Presidential Award

“The Best Community Empowerment” “Business Practitioner” Organizer: Organizer: Manajemen CBT Nusantara International Council for Small Business

22 November 2019 Bali CSR Award

“Corporate Social Responsibility Program (DCSR)” Organizer: Mayor of Denpasar

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Certification

Certification Name: Certification Name: Certification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: Lombok International Airport El Tari International Airport- Kupang Awarding Entity: Directorate General of Awarding Entity: Transportation, Ministry of Directorate General of Transportation of the Republic Transportation, Ministry of of Indonesia Transportation of the Republic of Indonesia Scope: Airport Certificate Scope: Airport Certificate Effective Date: 10 August 2016 – Effective Date: 30 September 2021 27 November 2015 – 30 July 2020

Certification Name: Certification Name: Certification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: I Gusti Ngurah Adisutjipto International Rai International Airport - Bali Airport – Yogyakarta

Awarding Entity: Awarding Entity: Directorate General of Directorate General of Transportation, Ministry of Transportation, Ministry of Transportation of the Republic Transportation of the Republic of Indonesia of Indonesia

Scope: Scope: Airport Certificate Airport Certificate

Effective Date: Effective Date: 1 October 2015 – 30 July 2020 6 November 2015 – 30 July 2020

Certification Name: Certification Name: SeCertification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: Sultan Hasanuddin Juanda International Airport - International Airport – Surabaya Makassar Awarding Entity: Awarding Entity: Directorate General of Directorate General of Transportation, Ministry of Transportation, Ministry of Transportation of the Republic Transportation of the Republic of Indonesia of Indonesia Scope: Scopev: Airport Certificate Airport Certificate Effective Date: Effective Date: 30 December 2015 – 4 December 2015 – 7 July 2020 30 July 2020

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Certification Name: Certification Name: Certification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: Sam Ratulangi International Sultan Aji Airport - Manado Muhammad Sulaiman Sepinggan International Awarding Entity: Airport – Balikpapan Directorate General of Transportation, Ministry of Awarding Entity: Transportation of the Republic Directorate General of of Indonesia Transportation, Ministry of Transportation of the Republic Scope: of Indonesia Airport Certificate Scope: Effective Date: Airport Certificate 18 December 2015 – 30 July 2020 Effective Date: 30 December 2015 – 30 July 2020

Certification Name: Certification Name: Certification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: Pattimura International Airport Syamsudin Noor Airport – - Ambon Banjarmasin

Awarding Entity: Awarding Entity: Directorate General of Directorate General of Transportation, Ministry of Transportation, Ministry of Transportation of the Republic Transportation of the Republic of Indonesia of Indonesia

Scope: Scope: Airport Certificate Airport Certificate

Effective Date: Effective Date: 22 October 2015 – 30 July 2020 31 August 2015 – 30 July 2020

Certification Name: Certification Name: Certification of Airport Certification of Airport Business Entity Business Entity

Awardee: Awardee: Adi Soemarmo International Jenderal Ahmad Yani Airport – Solo International Airport – Semarang Awarding Entity: Directorate General of Awarding Entity: Transportation, Ministry of Directorate General of Transportation of the Republic Transportation, Ministry of of Indonesia Transportation of the Republic of Indonesia Scope: Airport Certificate Scope: Airport Certificate Effective Date: 5 October 2015 – 30 July 2020 Effective Date: 23 November 2015 – 2 September 2020

PT Angkasa Pura I (Persero) 138 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Certification Name: Certification Name: Certification of Airport ISO 9001:2015 Business Entity Awardee: Awardee: I Gusti Ngurah Frans Kaesiepo International Rai International Airport – Bali Airport - Biak Awarding Entity: Awarding Entity: TUV Rheinland Directorate General of Transportation, Ministry of Scope: Transportation of the Republic Passenger Service Charge of Indonesia (PJP2U)

Scope: Effective Date: Airport Certificate 30 January 2019 – 29 January 2022 Effective Date: 4 March 2016 – 30 July 2020

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: I Gusti Ngurah Rai International I Gusti Ngurah Rai International Airport – Bali Airport – Bali

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U) Services (PJKP2U)

Effective Date: Effective Date: 30 January 2019 – 30 January 2019 – 29 January 2022 29 January 2022

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Juanda International Airport – Juanda International Airport – Surabaya Surabaya

Awarding Entity: Awarding Entity: Lloyd’s Register TUV Rheinland

Scope: Scope: Passenger Service Charge Aircraft Landing, Parking and (PJP2U) Hangar Services (PJP4U)

Effective Date: Effective Date: 1 November 2018 - 8 December 2017 - 31 October 2021 7 December 2020

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 139 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Juanda International Airport – Sultan Hasanuddin Surabaya International Airport – Makassar Awarding Entity: TUV Rheinland Awarding Entity: United Registrar of Systems Scope: (URS) Aircraft Cargo and Postal Services (PJKP2U) Scope: Aircraft Cargo and Postal Effective Date: Services (PJKP2U) 19 December 2018 - 18 December 2021 Effective Date: 25 June 2016 - 24 June 2019

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Sultan Hasanuddin Sultan Hasanuddin International Airport – International Airport – Makassar Makassar

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U) Services (PJKP2U)

Effective Date: Effective Date: 14 December 2017 - 2 January 2019 - 1 January 2022 13 December 2020

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Sultan Aji Muhammad Sulaiman Adisutjipto International Sepinggan International Airport Airport – Yogyakarta – Balikpapan Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland Scope: Scope: Passenger Service Charge Passenger Service Charge (PJP2U) (PJP2U); Aircraft Landing, Parking, and Hangar Services Effective Date: (PJP4U); Aircraft Cargo and 17 January 2018 - Postal Services (PJKP2U) 16 January 2021

Effective Date: 10 November 2017 - 9 November 2020

PT Angkasa Pura I (Persero) 140 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Adisutjipto International Adisutjipto International Airport – Yogyakarta Airport – Yogyakarta

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U) Services (PJKP2U)

Effective Date: Effective Date: 22 Oktober 2017 - 8 January 2019 - 7 January 2022 21 Oktober 2020

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Adi Soemarmo International Adi Soemarmo International Airport – Solo Airport – Solo

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U); Services (PJKP2U) Passenger Service Charge (PJP2U) Effective Date: 9 January 2019 - 8 January 2022 Effective Date: 30 November 2017 - 29 November 2020

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Jenderal Ahmad Yani Jenderal Ahmad Yani International Airport – International Airport – Semarang Semarang

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U); Services (PJKP2U) Passenger Service Charge (PJP2U) Effective Date: 12 June 2019 - 11 June 2022 Effective Date: 12 December 2017 - 11 December 2020

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 141 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Syamsudin Noor International Lombok International Airport Airport - Banjarmasin Awarding Entity: Awarding Entity: Lloyd’s Register TUV Rheinland Ruang Lingkup: Ruang Lingkup: Passenger Service Charge Passenger Service Charge (PJP2U) (PJP2U); Aircraft Landing, Parking, and Hangar Services Effective Date: (PJP4U) 7 December 2016 - 6 December 2019 Effective Date: 15 October 2019 - 14 October 2022

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Lombok International Airport Lombok International Airport

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Ruang Lingkup: Ruang Lingkup: Aircraft Landing, Parking and Aircraft Cargo and Postal Hangar Services (PJP4U) Services (PJKP2U)

Effective Date: Effective Date: 22 November 2017 - 8 February 2019 - 21 November 2020 7 February 2022

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: Sam Ratulangi International Pattimura International Airport Airport - Manado - Ambon

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Ruang Lingkup: Ruang Lingkup: Passenger Service Charge Passenger Service Charge (PJP2U); Aircraft Landing, (PJP2U); Aircraft Landing, Parking, and Hangar Services Parking, and Hangar Services (PJP4U); Aircraft Cargo and (PJP4U); Aircraft Cargo and Postal Services (PJKP2U) Postal Services (PJKP2U)

Effective Date: Effective Date: 28 October 2019 - 20 December 2017 - 27 October 2022 19 December 2020

PT Angkasa Pura I (Persero) 142 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Certification Name: Certification Name: ISO 9001:2015 ISO 9001:2015

Awardee: Awardee: El Tari International Airport - El Tari International Airport - Kupang Kupang

Awarding Entity: Awarding Entity: TUV Rheinland TUV Rheinland

Scope: Scope: Passenger Service Charge Aircraft Landing, Parking and (PJP2U) Hangar Services (PJP4U)

Effective Date: Scanned by CamScanner Effective Date: 6 December 2018 - 27 December 2017 - 5 December 2021 26 December 2020

Certification Name: Certification Name: ISO 9001:2015 OHSAS 18001:2007

Awardee: Awardee: Frans Kaesiepo International I Gusti Ngurah Rai International Airport - Biak Airport - Bali

Awarding Entity: Awarding Entity: TUV Rheinland Sucofindo International Certification Services Ruang Scope: Aircraft Landing, Parking, Scope: and Hangar Services (PJP4U); Airport Services Aircraft Cargo and Postal Services (PJKP2U) Effective Date: 02 January 2018 – Effective Date: 01 January 2021 7 January 2019 - 5 January 2021

Certification Name: Certification Name: OHSAS 18001:2007 OHSAS 18001:2007

Awardee: Awardee: Sultan Aji Muhammad Sulaiman Adi Soemarmo International Sepinggan International Airport Airport - Solo - Balikpapan Awarding Entity: Awarding Entity: Sucofindo International Sucofindo International Certification Services Ruang Certification Services Ruang Scope: Scope: Airport Services Airport Services Effective Date: Effective Date: 02 January 2018 – 02 January 2018 – 01 January 2021 01 January 2021

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 143 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Health and Safety Management Management System System Golden Flag Unit Golden Flag Unit Awardee: Awardee: I Gusti Ngurah Rai International Jenderal Ahmad Yani Airport - Bali International Airport - Semarang Awarding Entity: Ministry of Manpower of the Awarding Entity: Republic of Indonesia Ministry of Manpower of the Republic of Indonesia Scope: Airport Services Scope: Airport Operator Effective Date: 30 July 2018 - 30 July 2021 Effective Date: 14 July 2017 - 14 July 2020

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Management Health and Safety Management System Golden Flag Unit System Golden Flag Unit

Awardee: Awardee: Sultan Aji Muhammad Sulaiman Adi Soemarmo International Sepinggan International Airport Airport – Solo – Balikpapan Awarding Entity: Awarding Entity: Ministry of Manpower of the Ministry of Manpower of the Republic of Indonesia Republic of Indonesia Scope: Scope: Airport Services Airport Operator Effective Date: Effective Date: 30 July 2018 - 30 July 2021 30 July 2018 - 30 July 2021

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Management Health and Safety Management System Golden Flag Unit System Golden Flag Unit

Awardee: Awardee: Pattimura International Airport Syamsudin Noor Airport – – Ambon Banjarmasin

Awarding Entity: Awarding Entity: Ministry of Manpower of the Ministry of Manpower of the Republic of Indonesia Republic of Indonesia

Scope: Scope: Airport Services Airport Services

Effective Date: Effective Date: 29 March 2019 - 29 March 2022 29 March 2019 - 29 March 2022

PT Angkasa Pura I (Persero) 144 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Health and Safety Management Management System System

Awardee: Awardee: El Tari International Airport – Frans Kaesiepo International Kupang Airport - Biak

Awarding Entity: Awarding Entity: Ministry of Manpower of the Ministry of Manpower of the Republic of Indonesia Republic of Indonesia

Scope: Scope: Airport Services Airport Services

Effective Date: Effective Date: 29 March 2019 - 29 March 2022 29 March 2019 - 29 March 2022

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Management Health and Safety Management System System

Awardee: Awardee: Adisutjipto International Airport El Tari International Airport – – Yogyakarta Kupang

Awarding Entity: Awarding Entity: Ministry of Manpower of the Ministry of Manpower of the Republic of Indonesia Republic of Indonesia

Scope: Scope: Airport Services Airport Services

Effective Date: Effective Date: 29 March 2019 - 29 March 2022 29 March 2019 - 29 March 2022

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Management Health and Safety System Management System

Awardee: Awardee: Lombok International Airport Sam Ratulangi International Airport - Manado Awarding Entity: Ministry of Manpower of the Awarding Entity: Republic of Indonesia Ministry of Manpower of the Republic of Indonesia Scope: Airport Services Scope: Airport Services Effective Date: 29 March 2019 - 29 March 2022 Effective Date: 29 March 2019 - 29 March 2022

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 145 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Certification Name: Certification Name: Certificate of Occupational Certificate of Occupational Health and Safety Health and Safety Management System Management System

Awardee: Awardee: Juanda International Airport – Sultan Hasanuddin Surabaya International Airport – Makassar Awarding Entity: Ministry of Manpower of the Awarding Entity: Republic of Indonesia Ministry of Manpower of the Republic of Indonesia Scope: Airport Services Scope: Airport Services Effective Date: 29 March 2019 - 29 March 2022 Effective Date: 29 March 2019 - 29 March 2022

Education and Training of Management

Policy

PT Angkasa Pura I (Persero) is aware of the Throughout 2019, PT Angkasa Pura I (Persero) importance of developing management and facilitated the development of management and employee competencies to support the company’s employee competencies through education and/ business development. Therefore, PT Angkasa or training activities that were held internally and Pura I ensures that all employees have equal externally. There were 254 education and training opportunity to increase their knowledge, abilities activities participated by 3490 participants in and expertise according to their needs and 2019, both from management and employees. interests. This is summarized in the Decree of the The number of participants decreased from Board of Directors of PT Angkasa Pura I (Persero) 6,143 participants in 2018 to 3,490 participants Number: KEP.167 / KP.04 / 2019 governing the in 2019 because the Company no longer held Patterns of Employee Training and Development online-based Creative Thinking training in 2019. In of PT Angkasa Pura I (Persero). addition, in the effort to implement government programs for the establishment of excellent human resources, the training budget is allocated to improve infrastructure in preparation for the implementation of the CSR scholarship for D3 program in collaboration with the University of Mataram for the development of airport major.

PT Angkasa Pura I (Persero) 146 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Competency Development based on Position Level

The most type of training held in 2019 is the airport must be carried out to keep the validity mandatory regulation training at Officer level. of the license alive in accordance with applicable While the least training is leadership training at regulations. The number of education and/or the top management level. On the other hand, the training participants in 2019 by type and program highest number of participants was 1,195 for the at various levels in PT Angkasa Pura I (Persero) is regulation mandatory training. These conditions presented in the following table. illustrate that the need for licensed personnel at

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

1 The Board of Inhouse Training Performance Management Training Batch I, Batch II and Batch III Director Public Course IAI-AFA-IAESB International Conference 2019

Public Course Civil Aviation Training International Forum 2019

Public Course Indonesia Career Evening 2019 with YPIA & Certified Sustainability Practitioner Program Training

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 147 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

1 Vice President Inhouse Training Pre Retirement Training Batch XXXIII to XXXVII

Self-Management Executive Aviation Succession Program

Inhouse Training Performance Management Training Batch I, Batch II and Batch III

Inhouse Training Training of Trainers Batch II

Inhouse Training Workshop Coaching & Mentoring For Executive Leader Batch III

Inhouse Training Resertifikasi Certified Risk Professional Tahun 2019

Inhouse Training Risk Management Training and Certified Risk Professional (CRP) Certification

Public Course Digital HR & Analytics Conference

Public Course HR Festival Asia 2019

Public Course 7th Maximising Non Aeronautical Revenue Summit 2019

Public Course Distance Learning The Mechanics of Project Finance

Public Course Civil Aviation Training International Forum 2019

Public Course PAII International Workshop “Best Practices in Implementing Effective Governance - From Rules to Principles

3 General Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Manager

Project Self-management Executive Aviation Succession Program Manager

Co. General Inhouse Training Performance Management Training Batch I, Batch II and Batch III Manager Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training Workshop on Coaching & Mentoring For Executive Leaders Batch III

Inhouse Training Recertification of Certified Risk Professional in 2019

Inhouse Training Risk Management Training and Certified Risk Professional (CRP) Certification

Inhouse Training Airport Operations and Management Training In collaboration with Incheon Airport

Public Course TFWA - The Duty Free & Travel Retail Global Summit 2019

4 Senior Manager Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Project Inhouse Training Online Learning Training for Senior Airport Management Batch I and Secretary Batch II

Specialist Inhouse Training In Class Learning Training for Senior Airport Management Batch I and Batch II

Self-management Executive Aviation Succession Program

Inhouse Training Performance Management Training Batch I, Batch II and Batch III

PT Angkasa Pura I (Persero) 148 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

4 Specialist Inhouse Training Training of Trainers Batch II

Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training Airport Executive Succession Program

Inhouse Training Workshop on Public Information Disclosure

Inhouse Training Workshop on Coaching & Mentoring For Executive Leaders Batch III

Inhouse Training IRCA Certified Lead Auditor ISO 9001: 2015 Certification and Training in 2019

Self-management Workshop on People Transformation Batch I and Batch II

Inhouse Training Recertification of Certified Risk Professional in 2019

Inhouse Training Risk Management Training and Certified Risk Professional (CRP) Certification

Inhouse Training Business Transformation in the Industrial Age 4.0 Training

Inhouse Training Training on Inspection and Scrutiny of Violations Against Employee Discipline

Public Course Digital HR & Analytics Conference

Inhouse Training Airport Operations and Management Training In collaboration with Incheon Airport

Public Course TFWA - The Duty Free & Travel Retail Global Summit 2019

Public Course Trinity Forum - The 2019 Global Airport Commercial Revenue Conference

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Inhouse Training Airport Commercial

Inhouse Training Airport Customer Satisfaction

5 Manager Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Assistant Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Manager Management Training Batch III

Inhouse Training In Class Junior Airport Management Non Regular Training, Batch I and Batch II

Inhouse Training Training of Trainers Batch II

Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training Customer Service and Hospitality Champion Class Training Batch I, Batch II and Batch III

Inhouse Training Workshop Customer Service and Hospitality Concept for Manager

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 149 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

5 Assistant Inhouse Training Customer Service and Hospitality Initial Class Training Batch I, Batch II Manager dan Batch III

Inhouse Training Interpretation of Assessment Criteria for Performance Excellence (KPKU) Training Batch I and Batch II

Inhouse Training Airport Operation Control Center (AOCC) Training Batch I dan Batch II

Inhouse Training Workshop on Public Information Disclosure

Inhouse Training IRCA Certified Lead Auditor ISO 9001: 2015 Certification and Training ini 2019

Self-management Airline Management and Route Development Training Batch XII

Self-management Training of Basic Safety Management System for Trainers

Inhouse Training Training of Junior Expert Project Management Certification

Inhouse Training Inspection and Scrutiny of Violations Against Employee Discipline Training

Inhouse Training In-House Training ACI - Airport Carbon Management

Inhouse Training Airport Operations and Management Training In collaboration with Incheon Airport

Public Course Trinity Forum - The 2019 Global Airport Commercial Revenue Conference

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Inhouse Training Airport Commercial

Inhouse Training Airport Customer Satisfaction

Self-management Rating Renewal Test for Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Rating Renewal Test for Personnel of Salvage

Self-management Exam of Aviation Security Facilities Licence Expiry Issuance

Self-management Exam of Electrical Licence Expiry Issuance

Self-management Exam of Aviobridge Licence Expiry Issuance

Contract - - Specialist

Airport Duty Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Manager Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Inhouse Training In Class Junior Airport Management Non Regular Training, Batch I and Batch II

Inhouse Training Online Learning Training for Senior Airport Management Batch I and Batch II

Inhouse Training In Class Learning Training for Senior Airport Management Batch I and Batch II

PT Angkasa Pura I (Persero) 150 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

5 Airport Duty Inhouse Training Workshop Customer Service and Hospitality Concept for Manager Manager Inhouse Training Airport Operation Control Center (AOCC) Training Batch I dan Batch II

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Inhouse Training Airport Customer Satisfaction

Auditor Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Airport Operations and Management Training In collaboration with Incheon Airport

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

6 Corporate - - Expert Level I

Corporate Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Expert Level II Self-management Executive Aviation Succession Program

Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training Workshop Coaching & Mentoring For Executive Leader Batch III

Inhouse Training Resertifikasi Certified Risk Professional Tahun 2019

Corporate Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Expert Level III Inhouse Training Online Learning for Senior Airport Management Training Batch I and Batch II

Inhouse Training Inclass Learning Diklat Senior Airport Management Batch I dan Batch II

Inhouse Training Training of Trainers Batch II

Inhouse Training Business Transformation in the Industrial Age 4.0 Training

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Corporate Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Expert Level IV Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Inhouse Training In Class Junior Airport Management Non Regular Training, Batch I and Batch II

Inhouse Training Training of Trainers Batch II

Inhouse Training Workshop on Public Information Disclosure

Inhouse Training Workshop Coaching & Mentoring For Executive Leader Batch III

Inhouse Training Junior Expert Project Management Certification

Inhouse Training Inspection and Scrutiny of Employee Indiscipline Training

Inhouse Training IATA Diploma Training Session II - Airport Master Planning

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 151 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

6 Corporate Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III Expert Level IV Inhouse Training IATA Diploma Training Session III - Airport Development and Infrastructure Design

Inhouse Training Airport Commercial

Human Capital Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Corporate Support

Human Capital Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII Support Expert Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Self-management Executive Aviation Succession Program

Inhouse Training Performance Management Training Batch I, Batch II and Batch III

Inhouse Training Training of Trainers Batch II

Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training IATA Airport Slots and Coordination

Inhouse Training Inspection and Scrutiny of Violations Against Employee Discipline Training

Inhouse Training Airport Operations and Management Training in collaboration with Incheon Airport

Inhouse Training IATA Diploma Session II Training - Airport Master Planning

Inhouse Training IATA Diploma Session III Training - Airport Development and Infrastructure Design

Corporate - - Doctor

P4DP Specialist Inhouse Training In Class Junior Airport Management Non Regular Training, Batch I and Batch II

Inhouse Training Inspection and Scrutiny of Violations Against Employee Discipline Training

Analyst Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training IRCA Certified Lead Auditor ISO 9001: 2015 Certification and Training in 2019

Self-management Airline Management and Route Development Training Batch XII

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Self-management Exam of Electrical License Expiry Issuance

Self-management Exam of Mechanical License Expiry Issuance

PT Angkasa Pura I (Persero) 152 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

7 Team Leader Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Inhouse Training Customer Service and Hospitality Champion Class Training Batch I, Batch II and Batch III

Inhouse Training Workshop Customer Service and Hospitality Concept for Manager

Inhouse Training Customer Service and Hospitality Initial Class Training Batch I, Batch II and Batch III

Inhouse Training Interpretation of Assessment Criteria for Performance Excellence (KPKU) Training Batch I and Batch II

Inhouse Training Airport Operation Control Center (AOCC) Training Batch I dan Batch II

Self-management Airline Management and Route Development Training Batch XII

Inhouse Training Electrical OHS Expert Certification Training in 2019

Public Course 5th Emergency Management for Airport Summit 2019

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Direct Appointment Technical Competency and Certification (TCC) Training on Air Conditioning System (ACS)

Direct Appointment Technical Competency and Certification (TCC) Training on Airfield Lighting System (ALS)

Inhouse Training Foam Quality Testing Training in 2019

Inhouse Training Foam Tender Operation and Defensive Driving Training in 2019

Self-management License Extension Exam of Aviation Security Senior Personnel in 2019

Self-management Rating Renewal Test of Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Rating Renewal Test of Personnel of Salvage

Self-management Exam of Aviation Security Facilities License Expiry Issuance

Self-management Exam of Electrical License Expiry Issuance

Self-management Exam of Aviobridge License Expiry Issuance

Self-management Exam of Mechanical License Expiry Issuance

Self-management Exam of AMC and Marshaller Personnel License Expiry Issuance

8 Squad Leader Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Customer Service and Hospitality Champion Class Training Batch I, Batch II and Batch III

Inhouse Training Workshop on Customer Service and Hospitality Concept for Manager

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 153 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

8 Squad Leader Inhouse Training Airport Operation Control Center (AOCC) Training Batch I dan Batch II

Public Course 5th Emergency Management for Airport Summit 2019

Self-management Initial Training of Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) in 2019

Direct Appointment Initial Training of Senior Personnel of Aviation Security Batch I and Batch II in 2019

Inhouse Training Foam Quality Testing Training in 2019

Inhouse Training Foam Tender Operation and Defensive Driving Training in 2019

Self-management License Renewal Test for Junior Personnel of Aviation Security in 2019

Self-management License Renewal Test for Senior Personnel of Aviation Security in 2019

Self-management Rating Renewal Test for Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Rating Renewal Test for Personnel of Salvage

9 Engineer Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Inhouse Training Electrical OHS Expert Certification Training in 2019

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Direct Appointment Technical Competency and Certification (TCC) Training on Airfield Lighting System (ALS)

Self-management Exam of Aviation Security Facilities License Expiry Issuance

Self-management Electrical License Expiry Issuance Exam

10 Technician Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Interpretation of Assessment Criteria for Performance Excellence (KPKU) Training Batch I and Batch II

Inhouse Training Building Information Modeling Training Batch I

Inhouse Training Basics of Environmental Impact Assessment Training in 2019

Inhouse Training Junior Expert Project Management Certification Training

Inhouse Training Electrical OHS Expert Certification Training in 2019

Inhouse Training In-House ACI Training - Airport Carbon Management

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Self-management Initial Training of Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) in 2019

Direct Appointment Technical Competency and Certification (TCC) Training on Air Conditioning System (ACS)

Direct Appointment Technical Competency and Certification (TCC) Training on Airfield Lighting System (ALS)

PT Angkasa Pura I (Persero) 154 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

10 Technician Direct Appointment Technical Competency and Certification (TCC) Training on Monitoring Equipment and Postponement of Crime Efforts (P3UK)

Direct Appointment Technical Competency and Certification (TCC) Training on Goods Inspection and Detection Equipment (P3B)

Direct Appointment Technical Competency and Certification (TCC) Training on Air and Land Facilities of Airport Facilities and Maintenance Personnel

Inhouse Training Foam Quality Testing Training in 2019

Self-management Rating Renewal Test for Personnel of Basic Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Rating Renewal Test for Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Exam of Aviation Security Facilities License Expiry Issuance

Self-management Exam of Electrical License Expiry Issuance

Self-management Exam of Mechanical License Expiry Issuance

Self-management Exam of FSU-FSD License Expiry Issuance

11 Officer Self-management Type B and Type C OrientationTraining in 2019

Sales Executive Self-management Airport Officer Management Training Batch IV, V and VI

Inhouse Training Pre-Retirement Training Batch XXXIII to XXXVII

Inhouse Training Project Assignment Report Presentation Exam of Junior Airport Management Training Batch III

Inhouse Training Creative Thinking & Innovation Training Batch I, Batch II, Batch III and Batch IV

Inhouse Training Customer Service and Hospitality Champion Class Training Batch I, Batch II and Batch III

Inhouse Training Workshop Customer Service and Hospitality Concept for Manager

Inhouse Training Customer Service and Hospitality Initial Class Training Batch I, Batch II and Batch III

Inhouse Training Interpretation of Assessment Criteria for Performance Excellence (KPKU) Training Batch I and Batch II

Inhouse Training Airport Operation Control Center (AOCC) Training Batch I dan Batch II

Inhouse Training Building Information Modeling Training Batch I

Inhouse Training Workshop on Public Information Disclosure

Inhouse Training IRCA Certified Lead Auditor ISO 9001: 2015 Certification and Training in 2019

Inhouse Training Basics of Environmental Impact Assessment Training in 2019

Self-management Airline Management and Route Development Training Batch XII

Inhouse Training IATA Airport Slots and Coordination

Self-management Training on Basic Safety Management System for Trainers

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Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

11 Sales Executive Inhouse Training Training on Junior Expert Project Management Certification

Inhouse Training Inspection and Scrutiny of Violations Against Employee Discipline Training

Inhouse Training Electrical OHS Expert Certification in 2019

Inhouse Training In House ACI Training - Airport Carbon Management

Public Course ACI Online Learning - Certificate in Business Leadership

Public Course ACI Online Learning - Certificate in Airport Business Operations

Public Course ACI Online Learning - Certificate in Commercial Management

Inhouse Training Training on IATA Diploma Session II - Airport Master Planning

Public Course ACI Online Learning - Disability Sensitivity Training

Public Course 7th Maximising Non Aeronautical Revenue Summit 2019

Inhouse Training Airport and Terminal Operation Training Batch I, Batch II and Batch III

Public Course Trinity Forum - The 2019 Global Airport Commercial Revenue Conference

Inhouse Training Airport and Terminal Facilities Training Batch I, Batch II and Batch III

Inhouse Training IATA Diploma Training Session III - Airport Development and Infrastructure Design

Inhouse Training Airport Commercial

Direct Appointment Initial Training of Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) in 2019

Direct Appointment Initial Training of Junior Personnel of Airport Rescue and Fire Fighting (PKP-PK) in 2019

Direct Appointment Basic Aviation Security Training Batch I in 2019

Direct Appointment Basic Aviation Security Training Batch II in 2019

Direct Appointment Basic Training of Airport Rescue and Fire Fighting (PKP-PK) in 2019

Direct Appointment Technical Competency and Certification (TCC) Training on Airfield Lighting System (ALS)

Direct Appointment Technical Competency and Certification (TCC) Training on Goods Inspection and Detection Equipment (P3B)

Direct Appointment Technical Competency and Certification (TCC) Training on Monitoring Equipment and Postponement of Crime Efforts (P3UK)

Direct Appointment Initial Training of Senior Personnel of Aviation Security Batch I and Batch II in 2019

Direct Appointment Initial Training of Junior Personnel of Aviation Security Batch I and Batch II in 2019

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Competency Development in PT Angkasa Pura I (Persero) Based on Position Level in 2019*

No Level Position Type Training Program

11 Sales Executive Inhouse Training Foam Quality Testing Training in 2019

Inhouse Training Foam Tender Operation and Defensive Driving Training in 2019

Self-management License Renewal Test for Basic Aviation Security Personnel in 2019

Self-management License Renewal Test for Junior Personnel of Aviation Security in 2019

Self-management License Renewal Test for Senior Personnel of Aviation Security in 2019

Self-management Rating Renewal Test for Junior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Rating Renewal Test for Senior Personnel of Airport Rescue and Fire Fighting (PKP-PK) and Salvage

Self-management Exam of Electrical License Expiry Issuance

Self-management Exam of Electrical License Expiry Issuance

Self-management Exam of Aviobridge License Expiry Issuance

Self-management Exam of Mechanical License Expiry Issuance

Self-management Exam of FSU-FSD License Expiry Issuance

Self-management Exam of AMC and Marshaller License Expiry Issuance

Public Training TCC FSU FSD

Public Training TCC ALS

Public Training TCC ACS

Public Training TCC P3UK

Public Training TCC P3B

Public Training IAMPI CERTIFICATION

*Inclusive of long-term training of over a year financed by PT Angkasa Pura I (Persero)

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Competency Development of the Board of Commissioners

Within the past year, 6 members of the Board of The following table summarizes the various Commissioners of PT Angkasa Pura I (Persero) have competency development/training programs undergone competency development in various attended by members of the Board of aspects. These include Statement of Financial Commissioners of PT Angkasa Pura I (Persero) Accounting Standards (PSAK), Risk Management during 2019. and Audit System.

Education and/or Training of the Members of the Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Competency Time and Place of Name Position Development Material/ Organizer Implementation Training

Harry Z Suratin Commissioner SFAS 71, SFAS 72, SFAS 73 25 – 26 July 2019 Institute of Committee

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Competency Development of the Board of Directors

Besides the Board of Commissioners, the Board Detailed data and information on the various of Directors have also undergone competency education and/or training programs participated development by participating in various activities by members of the Board of Directors of PT or events. No less than five activities were attended Angkasa Pura I is presented in the following table: by members of the Board of Directors, including those related to Performance Management, Civil Aviation Training, and Benchmarking of Aircraft Landing, Parking and Hangar Services (PJP4U) tariff implementation.

Education and/or Training of the Members of Board of Directors of PT Angkasa Pura I (Persero) in 2019

Competency Time and Place of Name Position Development Material/ Organizer Implementation Training

Faik Fahmi President Performance Management Jakarta, 29 - 30 January PT. Talenta Sumber Director Training Batch II 2019 Daya Prima

Wendo Asrul Operation Performance Management Jakarta, 5 - 6 March 2019 PT. Talenta Sumber Rose Director Training Batch III Daya Prima

Novrihandri Finance Director IAI-AFA-IAESB Intenational Bali, 11 - 12 April 2019 IAI Conference 2019

Performance Management Jakarta, 5 - 6 March 2019 PT. Talenta Sumber Training Batch III Daya Prima

Adi Nugroho Human Capital Civil aviation training China, 24 - 25 September Galleon Consulting and General international forum 2019 2019 Affairs Director Performance Management Jakarta, 29 - 30 January PT. Talenta Sumber Training Batch II 2019 Daya Prima

Lukman F. Laisa Technical Affairs Performance Management Jakarta, 5 - 6 March 2019 PT. Talenta Sumber Director Training Batch III Daya Prima

Devy Suradji Marketing and Performance Management Jakarta, 5 - 6 March 2019 PT. Talenta Sumber Services Director Training Batch III Daya Prima

Benchmarking on Brisbane, 16 – 19 January PT Angkasa Pura I implementation of PJP4U, 2019 counters and aviobridge tariffs at Brisbane Airport

Sardjono Jhony Business Performance Management Jakarta, 29 - 30 January PT. Talenta Sumber Tjitrokusumo Development Training Batch II 2019 Daya Prima Director

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Competency Development of Committees under the Board of Commissioners

Furthermore, in order to maintain and improve Data and information on the education and/or supervisory capabilities, the committees under the training programs attended by committees under the Board of Commissioners have also participated the Board of Commissioners can be seen in the in various competency development activities following table. during 2019. A total of 7 activities were attended in the reporting year, ranging from Statement of Financial Accounting Standards (PSAK), Risk Management and Audit System.

Education and/or Training of the Audit Committee of PT Angkasa Pura I in 2019

Competency Time and Place of Name Position Development Material/ Organizer Implementation Training

Harry Z. Soeratin Vice SFAS 71, SFAS 72, SFAS 73 25 – 26 July 2019 Institute of Audit Chairperson of Committee Audit Comittee Workshop CACP 6 – 8 August 2019, Indonesian Audit Certification in Audit Bidakara Hotel Jakarta Committee Association Committee Practices

Konferensi Nasional 28 – 29 November 2019 Professional Profesional Manajemen Certification Institute of Risiko VII tahun 2019 Risk Management

Sertifikasi CRGP (Certified 19 – 21 November 2019 RAP / Risk Advisory Risk Governance Performance Profesional)

Syaiful Audit PSAK 71, PSAK 72, PSAK 73 25 - 26 Juli 2019 Institute of Audit Committee Committee

Workshop CACP 6 - 8 Agustus 2019 Indonesian Audit Certification in Audit Committee Association Committee Practices

Suka Edi Prasetyo Audit Konferensi Nasional 28 s.d 29 November Professional Committee Profesional Manajemen 2019 - Gumaya Tower Certification Institute of Risiko VII tahun 2019 Semarang Risk Management

Education and/or Training of the Audit Committee of PT Angkasa Pura I (Persero) in 2019

Competency Time and Place of Name Position Development Material/ Organizer Implementation Training

Riko Hendrawan Business Risk SFAS 71, SFAS 72, SFAS 73 25 – 26 July 2019 Institute of Audit and GCG Committee Committee Workshop CACP 6 – 8 August 2019 Indonesian Audit Certification in Audit Committee Association Committee Practices

Konferensi Nasional 28 – 29 November 2019 Professional Profesional Manajemen Certification Institute of Risiko VII tahun 2019 Risk Management

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Education and/or Training of the Audit Committee of PT Angkasa Pura I (Persero) in 2019

Competency Time and Place of Name Position Development Material/ Organizer Implementation Training

Riko Hendrawan Business Risk Certified Risk Management 21 – 26 October 2019 RAP / Risk Advisory and GCG Profesional Performance Committee Certified Risk Governance 19 - 21 November 2019 RAP / Risk Advisory Professional (CRGP) Performance Certification

Ganesha Dian Business Risk 7th National Risk 28 - 29 November 2019 Professional Farisi and GCG Management Professionals Certification Institute of Committee Conference 2019 Risk Management

Competency Development for Corporate Secretary, Internal Audit and Risk Management Units

To realize GCG principles and in line with current In this regard, two education and training developments in governance risks, PT Angkasa programs were attended during the reporting Pura I (Persero) encourages the Corporate year. The competency development materials were Secretary, Internal Audit and Risk Management related to Annual Report and Public Information units to upgrade their knowledge, skills and Disclosure. expertise on an ongoing basis. To that end, in 2019 the Corporate Secretary, Internal Audit and Risk Details of the education and/or training programs Management units attended various education attended by the Corporate Secretary, Internal and training programs. Audit and Risk Management units are presented below.

Education and/or Training Programs of Corporate Secretary of PT Angkasa Pura I (Persero) in 2019

Competency Name Development Material/ Time Organizer Training

• Dwitra Sukma Workshop on Preparation Jakarta, 22 - 23 May 2019 Institute of Audit Wardhana of Annual Report Based on Committee • Nurul Fatkhiyah Criteria of Annual Report Award 2018

• Awaluddin Workshop on Public Bogor, 2 - 3 May 2019 PT Angkasa Pura I • Gede Eka Sandi Information Disclosure • Asmadi

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Education and/or Training Programs of Corporate Secretary of PT Angkasa Pura I (Persero) in 2019

Competency Development Name Time Organizer Material/Training

• Yaka Sulistya W Certified Practitioner Of 11 – 22 March 2019 YPIA • Karel Rianto R Internal Audit I • Tri Suliati • I Made Adi S

• Restu Suryaningsih Certified Practicioner Of 13 – 24 May 2019 YPIA • Titik Budi U Internal Audit II • Israwadi • Junius F Walenta • Jarot Handoko • Insan Kamil • Didi Suliyantono

• Israwadi National Conference IIA Solo 24 – 25 June 2019 The Insitute Of Internal • Jarot Handoko Auditors • Junius F Walenta

Israwadi Workshop Audit Internal - 4 – 5 July 2019 YPIA Standar Audit Dan Kode Etik Profesi

Israwadi National Anti Fraud Conference 9 – 11 July 2019 Association Of Certified Bali Fraud Examiners (ACFE)

Esti Dewi F Workshop Integrating 5 – 6 August 2019 Asia Anti Fraud Grc Governance Risk And Compliance

Esti Dewi F Advanced Internal Audit 16 – 28 September 2019 YPIA Training

Titis Erawati Basic Level Audit Training 18 – 2 March 2019 YPIA

Esti Dewi F 17 – 29 June 2019

Agni Indradi 28 October – 9 November 2019

Israwadi Workshop on State Losses in 7 – 8 November 2019 Asia Anti Fraud SOE and SOE Risk Investment or Corruption

Israwadi International Workshop Best 24 – 28 November 2019 Indonesian Internal Practices In Implementing Auditor Association Effective Governance

Junius F Walenta Intermediate Level PPAK 25 - 26 July 2019 Institute of Audit Forensic Audit Training Committee

• Herriyanto National Internal Audit Seminar 24 – 25 April 2019 YPIA • Osim • Insan Kamil • Milda • I Made Adi S

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Education and/or Training of Compliance and Risk Management Unit of PT Angkasa Pura I (Persero) in 2019

Competency Development Material/ Time and Place of Name Organizer Training Implementation

I Wayan Certified Risk Professional Certification Bogor, Indonesia Risk and Sutawijaya, dkk 20 - 21 August 2019 Business Advisory

Widya Wiedagdo, Risk Management Training and Certified Bogor, Indonesia Risk and et al Risk Professional (CRP) Certification in 2019 26 - 29 August 2019 Business Advisory

Realization of Competency Development Costs

In terms of finances, the realization of costs The total education and/or training costs in 2019 is for training and competency development of as follows:. management and employees in 2019 increased by 3.98% compared to the previous year from Rp 40.68 billion to Rp 42.3 billion. This increase reflects the commitment of PT Angkasa Pura I (Persero) to always increase added value for management and employees.

Competency Development Costs of PT Angkasa Pura I (Persero) in 2019

Increase 2019 2018 2017 Description Rp Rp Rp Rp %

Education and/or 1.689.612.364 3,98 42.371.568.292 40.681.955.928 39.008.149.267 Training Costs

Evaluation of Employee Competency Development Implementation

PT Angkasa Pura I (Persero) has a mechanism to Evaluation is conducted by filling the questionnaire measure the effectiveness of the competency given to the participants used as material development training system. The mechanism evaluation to the implementation of the training, is to evaluate training participants, instructors, the used approach is Likert Scale. The components training modules, training methods, facilities, and and elements of the assessment are as follows: training providers.

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A INSTRUCTOR B MODULE

1. Suitability of Instructor competencies with 1. Training materials are in accordance with the material presented job requirements 2. Ability to explain in material delivery 2. Training materials are easy to understand 3. Ability to create an active and communicative and interesting for participants atmosphere 3. Training materials are arranged 4. Ability to answer participant questions systematically 5. Sound clarity and intonation in the delivery of 4. Training materials can be applied and material support performance achievement 5. Training materials provided have been adjusted to the current conditions

C TRAINING METHOD D FACILITIES

1. Training methods are in accordance with the 1. Comfort and cleanliness of the training material room 2. There is a problem solving simulation 2. Supporting facilities for smooth training 3. Evaluation of participants’ abilities and activities such as stationery, block notes, knowledge before and after training hard copy material and others 3. Facilities for training activities such as laptops, projectors, sound systems, and E ORGANIZER others 4. Supporting spaces such as worship rooms 1. Training program is in accordance with the and toilets company’s vision and mission 5. Arranging the room and equipment 2. Training time provided is adequate 6. Comfort and cleanliness of dormitory 3. Participants feel the benefits of training 7. Meals and snacks served 4. Reputation of the Organizer/company (for 8. Laundry service Public Training) 9. Services of front office staff, waiters, PIC

The results of the questionnaire recap on the evaluation of employee training implementation during 2019 are listed in the participant satisfaction index as follows:

Assessment Element Satisfaction Index Likert Scale Category

Instructor 88,56 % 4,43 Very Satisfied

Module 88,29 % 4,41 Very Satisfied

Training Method 88,44 % 4,42 Very Satisfied

Facilities 88,09 % 4,40 Very Satisfied

Organizer 89,34 % 4,43 Very Satisfied

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In general, the element of organizer obtains highest satisfaction index score, while the element of facilities obtains the lowest score.

To that end, PT Angkasa Pura I (Persero) will conduct a review of the results of the evaluation of each training held and take action on improvements to the input that has been submitted by the training participants.

Access to Information and Data on the Company’s Website

Stakeholders may access information on PT Besides the PT Angkasa Pura I (Persero) website, Angkasa Pura I (Persero) through the company’s every airport managed by the Company has website at www.ap1.co.id, which is available in its own website. Information presented on Indonesian and English. From the landing page, each airport’s website includes airline arrival visitors can find the latest news on events and and departure schedules, both domestic and airport operations, including information about international, location plan and available services stakeholder meetings. Visitors may also wish to for customers such as money changers, ATMs see various interesting news on Angkasa Pura and banks, places for charging devices, duty free I presented in the “angkasapura” bulletin, by areas, tourist information services, and latest news downloading from the “Magazine” section on the or announcements about airports. The website is page. updated on a periodic basis, and so visitors can obtain information on changes that occur during Furthermore, the website presents information on their travel through airports managed by PT shareholders, Code of Conduct, General Meetings of Angkasa Pura I (Persero). Shareholders, company group structure , financial performance analysis, financial statements for the last 5 years, profiles of the Board of Commissioners and Board of Directors, and Charter of the Board of Commissioners, Board of Directors, Committees and Internal Audit Unit. Both Indonesian and English language websites provide a link to download the Annual Report, aimed at those who want to know in detail on the annual performance of PT Angkasa Pura I (Persero). The website also lists the various company contact information to facilitate those who wish to deal directly with PT Angkasa Pura I (Persero ).

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Names and Addresses of Head Office, Subsidiaries, Associate Entities, Foundations and Branch Offices

HEAD OFFICE

Kota Baru Bandar Kemayoran Blok B 12 Kav. 2 Jakarta, 10610 Telepon : 62-21 6541961 Faksimili : 62-21 6541513, 6541514 Email : [email protected]

SUBSIDIARIES

PT Angkasa Pura Hotel PT Angkasa Pura Properti Gedung Sainath Tower Lt. 10 Gedung Sainath Tower Lt. 10 Jl. Selangit Blok B – 9 No. 7 Jl. Selangit Blok B – 9 No. 7 Gunung Sahari Selatan, Kemayoran Gunung Sahari Selatan, Kemayoran Jakarta Pusat, 10610 Jakarta Pusat, 10610 Indonesia Indonesia Tel: (+62) (21) 26051829 Tel: (+62) (21) 26051919 Fax: (+62) (21) 26051830 Fax: (+62) (21)) 26051920 Email: [email protected] Email: [email protected] https://aph.co.id/ https://www.angkasapuraproperti.co.id/

PT Angkasa Pura Support PT Angkasa Pura Logistik PT Angkasa Pura Retail Gedung Sainath Tower Lt. 11 Gedung Datascrip Lt. 5 & 6 Grha angkasa Pura 1 Lt.5 Jl. Selangit Blok B – 9 No. 7 Jl. Selaparang Blok B.15 Kav.9 Kota Baru Bandar Kemayoran Blok Gunung Sahari Selatan, Gunung Sahari Selatan, B-12 Kav.2 Kemayoran Kemayoran Gunung Sahari Selatan, kemayoran Jakarta Pusat, 10610 Jakarta Pusat, 10610 Jakarta Pusat, 10610 Indonesia Indonesia Indonesia Tel: (+62) (21) 26051930 Tel: (+62) (21) 65866491 Tel: (+62) (21) 654 1961 Ext.2256 Fax: (+62) (21) 26051931 Email: admin@ Fax: (+62) (21) 654 1513 https://apsupports.com/ angkasapuralogistik.com http://angkasapuraretail.com/ http://www.aplog.co/

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ASSOCIATE ENTITIES

PT Gapura Angkasa PT Jasa Marga Bali Tol Gd. Dapenra Lt. 1,2 & 3 Operational Office: Jl. Angkasa, Blok B – 12, Kav. 8 Jalan Raya Pelabuhan Benoa No. 15 Gunung Sahari Selatan, kemayoran Pasanggaran, Denpasar, Bali Jakarta Pusat 10610 Tel: (+62) (361) 725326 Indonesia Fax: (+62) (361) 725326 Tel: (+62) (21) 6545410 Email: [email protected] Fax: - [email protected] Email: [email protected]

FOUNDATIONS

Yayasan Dana Pensiun Angkasa Pura Airports Yayasan Kesejahteraan Karyawan Angkasa (DAPENRA) Pura Airports (YAKKAP) Gedung DAPENRA Lt. VI Blok B 12 Kavling No. 8 Gedung DAPENRA Lt. III Blok B 12 Kavling No. 8 Gunung Sahari Selatan, Kemayoran Gunung Sahari Selatan, Kemayoran Jakarta Pusat, 10610 Jakarta Pusat, 10610 Tel: (+62) (21) 65867867 Tel: (+62) (21) 6546642 Fax: (+62) (21) 65867868 www.yakkap.co.id www.yakkap.or.id Email: [email protected] https://www.dapenra.co.id/

BRANCH OFFICES

I Gusti Ngurah Rai International Airport – Bali Juanda International Airport – Surabaya Gedung Wisti Sabha Lt. III Jl. Ir. Haji Juanda Jl. Raya Gusti Ngurah Rai Sedati, Sidoarjo Tuban, Kuta, Badung, Bali 80362 Surabaya 61253 Indonesia Indonesia Tel: (+62) (361) 9351011 Tel: Fax: (+62) (361) 9351032 T1 (+62) (31) 2986200 Email: [email protected] T2 (+62) (31) 2986700 https://bali-airport.com/id Fax: (031) 8667506 Email: [email protected] https://juanda-airport.com/id

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BRANCH OFFICES

Sultan Hasanudin International Airport – Jenderal Ahmad Yani International Airport – Makassar Semarang Jl. Raya Airport No.1 Jl. Puad Ahmad Yani Makassar, Maros Tambakharjo, Semarang Sulawesi Selatan 90552 Jawa Tengah, 50145 Indonesia Indonesia Tel: (+62) (411) 553183 Tel: (+62) (24) 7607596 Fax: (+62) (411) 553183 Fax: (+62) (24) 7603506 Email: [email protected] Email: [email protected] https://hasanuddin-airport.co.id/id https://ahmadyani-airport.com/id

El-Tari International Airport – Kupang Pattimura International Airport – Ambon Jl. Adi Sucipto Terminal B, Kupang Jl. Dr. Leimena – Laha, Ambon Nusa Tenggara Timur, 85361 Maluku, 97236 Indonesia Indonesia Tel: (+62) (380) 881668 Tel: (+62) (911) 323770, 323771,323772 Fax: (+62) (380) 881263 Fax: (+62) (911) 323773 Email: [email protected] Email: [email protected] https://kupang-airport.com/id https://pattimura-airport.co.id/id

Adi Soemarmo International Airport – Frans Kaisiepo International Airport – Biak Surakarta Jl. M Yamin, Biak Kota (Jl. Bandara Adi Sumarmo ) Biak Numfor, Biak Jl. Cendrawasih, Ngemplak Papua, 98111 Boyolali, Surakarta Indonesia Jawa Tengah, 57375 Tel: (0981) 22555 Indonesia Fax: (0981) 22106 Tel: (0271) 780400 Email: [email protected] Fax: (0271) 780715 https://franskaisiepo-airport.co.id/id Email: [email protected] https://adisumarmo-airport.com/id

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BRANCH OFFICES

Sultan Aji Muhammad Sulaiman Sepinggan Sam Ratulangi International Airport - Manado International Airport – Balikpapan Jl. A.A. Maramis, Jl. Marsma R. Mapanget, Manado Sepinggan, Balikpapan Sulawesi Utara, 95374 Kalimantan Timur, 76115 Indonesia Indonesia Tel: (+62) (431) 814320 Tel: (+62) (542) 766886 Fax: (+62) (431) 811595 Fax: (+62) (542) 766832 Email: [email protected] Email: [email protected] https://samratulangi-airport.com/id https://sepinggan-airport.com/id

Lombok International Airport – Praya Syamsudin Noor International Airport – Jl. By Pass Bil Praya Banjarmasin Tanak Awu, Pujut, Lombok tengah Jl. Angkasa Landasan Ulin Utara Nusa Tenggara Barat, 83573 Landasan Ulin, Banjar Baru Indonesia Kalimantan Selatan, 70713 Tel: (+62) (370) 6157000 Indonesia Fax: (+62) (370) 6157010 Tel: (+62) 811504640 Email: [email protected] Fax: (+62) (511) 4705251 https://lombok-airport.co.id/id Email: [email protected] https://syamsudinnoor-airport.co.id/id

Adisutjipto International Airport – Yogyakarta Yogyakarta International Airport – Kulon Progo Jl. Raya Solo KM. 9, Maguwoharjo Jalan Raya Wates Km. 42 Kulon Progo, DIY Depok, Sleman Tel: (0274) 4606000 Daerah Istimewa Yogyakarta, 55282 Fax: (0274) 4606060 Indonesia Email: [email protected] Tel: (+62) (274) 484261 Fax: (+62) (274) 488155 Email: [email protected] https://adisutjipto-airport.co.id/id

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PT Angkasa Pura I (Persero) as pioneer of commercial airport companies in Indonesia currently manages airports in various provinces in the Central and Eastern Indonesia. No less than fifteen airports, four project offices, and five subsidiary companies are currently under the supervision of PT Angkasa Pura I (Persero).

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Macroeconomic and Industry Overview

Political and Economic Analysis

The year 2019 was marked by the easing of the relatively stable within a range of 5 – 6% in 2019. trade war between the United States and China, In general, the political and economic situation which has raised expectations of a better outlook gave a positive signal for the Indonesian aviation in the global economy going forward. In Europe, industry. various issues related to Brexit came to the fore. Domestically, 2019 was the year of General In spite of this, the country’s economic growth in Elections and cabinet changes in government, 2019 indicated a slowdown by recording a growth which took place in a safe and orderly manner. of 5.02% as compared to 5.17% in 2018. This outcome is certainly a consideration for PT Angkasa Pura I From an economic standpoint, in 2019 the Rupiah (Persero) in making strategic policies for the future. was relatively stable against the US Dollar, with Bank Indonesia exchange rates ranging from Rp 14,537 to Rp 13,970 per USD (source: bi.go.id). The Bank Indonesia benchmark interest rate was also

Industry Analysis

Condition of Global Aviation Industry All regions have contributed to the slowing down During 2019, International Air Transport Association of industrial growth. As a result, the regional RPK (IATA) recorded a slower growth of global airline figures did not change much from 2018 to 2019. passenger traffic. The results of analyses in 2019 Airlines based in Asia-Pacific and Europe, as the indicated a significant downturn compared to the regions with the largest RPK share, were the growth rate in 2018 of +7.3% as measured in terms main drivers of the overall industry figures with of Revenue Passenger Kilometers (RPK). contributions to declining growth of 15ppts and 0.9ppts respectively in 2019.

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Contribution to annual RPK growth (airline region of registration)

9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Africa Asia Pasific Europe Latin America Middle East North America Source: IATA Air Passenger Market Analysis, December 2019

In Asia Pacific, annual traffic increased by 4.5% Condition of Indonesian Aviation Industry where there was a significant slump compared The Indonesian aviation industry recorded robust to the growth in 2018 of 8.5%. IATA recorded that growth as indicated by the increase in the number this reflected the trade war impact between the of passengers, fleets and flights. The aviation sector United States and China, and the weakening of offers huge investment opportunities considering economic activity. Meanwhile, European airlines the country’s unique geographical condition as experienced a 4.4% increase in traffic, which also an archipelago, coupled with a rising middle class signified a decrease from the growth in 2018 of and the ever-growing domestic and international 7.5%. This outcome has also been affected by tourism industry. slowing economic activity, decline in business confidence, industrial disputes and persistent For the period 2015 - 2019, Indonesia intends uncertainty over Brexit. to increase the number of national airline passengers to 162 million passengers per year by In general, the aviation industry maintained a constructing 15 new airports, as well as developing steady growth in 2019 despite being faced with and refurbishing existing airports in Sumatra, a number of challenges such as weak global Java, Bali, Kalimantan, Sulawesi, Nusa Tenggara, economic growth, decline in international trade, Maluku, and Papua. In addition, projections have and political and geopolitical tensions. Based on been made for developing nine airports that are IATA data, international passenger traffic rose by primarily focused on cargo services. +4.1%, lower than the growth of +7.1% in the previous year. On the other hand, capacity increased by +3% The endeavor to Increase capacity and quality of and load factor increased by +0.8% to 82%. airport services was implemented through the construction and development of airports, which were focused primarily at provincial capitals as the center of national and regional activity, as well as regions with economic and tourism potentials.

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Based on the Annual World Airport Traffic growth in the world. Indonesia is forecast to rank Forecast 2018-2040 published by Airports Council 7th as the country with the fastest flight growth in International (ACI), the Asia Pacific region is the world. predicted to contribute 42.8% to aircraft fleet

Development of Airport Industry in PT Angkasa Pura I (Persero) Area

Overall, air transport traffic in terms of total and passenger traffics were the lowest logged in aircrafts, passengers and cargo in 2019 experienced the last three years. negative growth as compared to 2018. The decrease in air transport traffic was recorded at Air transportation traffic in the last three years is between 6% and 15% in 2019. Further, the aircraft given in details as follow.

Air Transportation Traffic in the Last Three Years

Description Unit Growth in 2019 (%) 2019 2018 2017

Aircraft MV (14,66%) 707,202 828,672 792,387

Passenger Pax (15,64%) 81,532,700 96,652,313 89,751,328

Cargo Kg (6,69%) 427,135,421 457,749,380 403,775,511

AIRCRAFT MOVEMENTS Total realized domestic aircraft movements in 2019 of 707,222 aircrafts or decreased by 18.83% from was 570,734 aircrafts or decreased by 16.76% from the the previous year of 43,009 aircrafts. previous year of 684,960 aircrafts. On the other hand, total international aircraft movements was 101,577 In aggregate, total aircraft movements decreased aircrafts or increased by 0.83% from the previous by 10.8% in 2019. This condition illustrates year which as 100,703 aircrafts. the industry dynamics that has affected the performance of PT Angkasa Pura I (Persero). The Furthermore, total realized local/military aircraft following table presents aircraft movement data in movements in 2019 experienced negative growth the last three years.

Domestic, International and Local/Military Aircraft Movements in Indonesia in 2019

Remarks Growth in 2019 (%) 2019 2018 2017

Domestic aircraft movements (16.67%) 570,734 684,960 647,293

International aircraft movements 0.83% 101,577 100,703 89,120

Local/ military aircraft movements (18.83%) 34,911 43,009 54,974

Total (10,8%) 707,222 792,672 791,387

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Total Aircraft Movements

Aircraft Movements 800.000

780.000

760.000 792.672 791.387 740.000

720.000

700.000

680.000 707.222 660.000 2017 2018 2019

PASSENGER MOVEMENTS As of 31 December 2019, total realized domestic from the previous year of 16,375,076 pax. Further, passengers was 59,089,896 pax or decreased by total realized transit passengers was 4,517,713 pax 24.67% from the previous year of 74,505,616 pax. or decreased by 21.73% from the previous year of On the other hand, total realized international 5,771,621 pax. Overall, total passenger movements passengers was 17,925,091 pax or increased by 7.55% was 81,532,700 pax/day.

Domestic, International and Transit Passenger Movements in Indonesia in the Last Three Years

Remarks Growth in 2019 (%) 2019 2018 2017

Domestic passenger movements (24.67%) 59,089,896 74,505,616 69,847,884

International passenger movements 7.55% 17,925,091 16,375,076 14,497,952

Transit passenger movements (21.73%) 4,517,713 5,771,621 5,405,492

Total (15.64%) 81,532,700 96,652,313 89,751,328

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 175 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Total Passenger Movements

100.000.000 Passenger Movements 95.000.000

90.000.000 96.652.313 791.387

85.000.000

80.000.000 89.751.328

75.000.000 81.532.700

70.000.000 2017 2018 2019

CARGO MOVEMENTS Total realized domestic cargo movements in 2019 movements decreased by 6.69% from 457,749,380 was 305,186,561 kg or decreased by 21.20% from the kg in 2018 to 427,135,421 kg in 2019. The following realization of the previous year of 387,272,253 kg. On table presents data on domestic and international the other hand, total realized international cargo cargo movements for 2017, 2018 and 2019. movements was 121,948,860 kg. Total realized cargo

Domestic and International Cargo Movements in the Last Three Years

Remarks Growth in 2019 (%) 2019 2018 2017

Domestic cargo movements (21.20%) 305,186,561 387,272,253 264,475,489

International cargo movements 73.03% 121,948,860 70,477,27 69,650,011

Total (6.69%) 427,135,421 457,749,380 334,125,500

Total Cargo Movements Cargo Movements

500.000.000 450.000.000 400.000.000 457.749.380 350.000.000 427.135.421 300.000.000 334.125.500 250.000.000 200.000.000 150.000.000 100.000.000 50.000.000 0 2017 2018 2019

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Operational Performance Review

PT Angkasa Pura I (Persero) is a business entity 11. Ahmad Yani Airport (SRG) - Semarang engaged in providing airport services. In practice, 12. Lombok Airport (LOP) - Praya services provided by the Company include 13. El Tari Airport (KOE) - Kupang aeronautical (airport), non-aeronautical (non- 14. Yogyakarta International Airport (YIA) - Kulon airport), and airport-related services. The Company Progo is headquartered in Jakarta and as of 31 December 15. Sentani Airport (DJJ) - 2019, there were 15 (fifteen) airports and one 16. Strategic Commercial Business Unit - Bali commercial business unit located in Bali managed by PT Angkasa Pura I (Persero) in accordance with In addition to airports, PT Angkasa Pura I (Persero) the Decree of the Minister of Transportation No. KP has established 5 (five) Subsidiaries to run airport 907 of 2014 concerning PT Angkasa Pura I (Persero) support businesses, namely PT Angkasa Pura as an Airport Business Entity, as follows: Logistic, PT Angkasa Pura Property, PT Angkasa 1. I Gusti Ngurah Rai Airport (DPS) - Bali Pura Support, PT Angkasa Pura Hotel, and PT 2. Juanda Surabaya Airport (SUB) - Surabaya Angkasa Pura Retail. Since 2013, the aeronautical 3. Sultan Hasanuddin Airport (UPG) - Makassar services provided by the Company are only non- 4. Sultan Aji Muhammad Sulaiman Sepinggan Air Traffic Services (ATS). Therefore the Company Airport (BPN) - Balikpapan is committed to develop its business in non- 5. Frans Kaisiepo Airport (BIK) - Biak aeronautical services with airport city concept 6. Sam Ratulangi Airport (MDC) - Manado which is change in business orientation and 7. Adisutjipto Airport (JOG) - Yogyakarta process with emphasis on non-aeronautical sector 8. Adi Soemarmo Airport (SOC) - Surakarta and customer satisfaction. 9. Syamsudin Noor Airport (BDJ) - Banjarmasin 10. Pattimura Airport (AMQ) - Ambon

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Strategic Target and Company Strategy

STRATEGIC TARGET the capacity of all airports is currently reaching As stated in the Long-Term Corporate Plan (RJPP) an average of 89 million passengers per year. 2019-2023, PT Angkasa Pura I (Persero) has set the This commitment is also stated in the Long Term following strategic targets: Corporate Plan (RJPP) for 2019-2023. In 2019, PT 1. To reach air passenger traffic of more than 130 Angkasa Pura I (Persero) served 81,532,713 million million passengers; air passenger movements, lower than the target 2. To reach total operational income of Rp 24 of 101 million air passenger movements. When trillion; compared to 2018 which served 96.5 million 3. To achieve EBITDA margin exceeding 50%; air passenger movements at 13 airports under 4. To achieve Airport ASQ scores above the global management, there was a decrease of 15.64% or average according to the category of total around 15 million air passenger movements. passengers at respective airports; 5. To acquire seven UPT airports & develop 2 CORPORATE STRATEGY greenfield airports. WINNING STRATEGIES The company has established 4 (four) Winning PT Angkasa Pura I (Persero) is committed to Strategies and 5 (five) Key Enablers to realize the increasing capacity at the 13 airports managed vision of “Connecting the World Beyond Airport by the company to reach 140 million passengers Operator with Indonesian Experience”. by 2023. This represents a challenge as well as an opportunity for the company, considering that

Vision CONNECTING THE WORLD BEYOND AIRPORT OPERATOR WITH INDONESIAN EXPERIENCE

Winning Strategies

HIGH PERFORMING CULTURE Key EFFECTIVE LEADERSHIP Enabler CUSTOMER CENTRIC ORGANIZATION WORLD CLASS ICT & MANAGEMENT SYSTEM COMPETENT HUMAN CAPITAL Strategic Initiatives

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SERVICE EXCELLENCE AND COMPLIANCE in accordance with principles of World Class The current and future focus of the company Company Management and good and proper is making PT Angkasa Pura I (Persero) a Corporate Governance. The strategic initiatives company which provides service excellence to performed by the company to support Cost customers including to airlines, passengers and and Risk Management strategy include Cost concessionaires. Therefore, the company’s strategy Effectiveness and Efficiency Improvement, Robust to improve service quality and compliance to Funding Strategy, and Effective Enterprise Risk applicable regulations is to use the Service Management. Excellence and Compliance strategy. The strategic initiatives performed by the company to support SOCIOECONOMICALLY RESPONSIBLE GREEN the Service Excellence and Compliance strategy CORPORATION include Service Level Improvement, Effective PT Angkasa Pura I (Persero) has taken the Internal Service Level Agreement (SLA), and initiative and is committed to implementing Airport Regulation Compliance. environmentally friendly principles (Eco- Green) and providing optimum benefits for The Customer Satisfaction Index (CSI) is a the surrounding community. To implement benchmark used by the Company to measure the this commitment, the Company has adopted achievement of targets. CSI is used by referring to the Socioeconomically Responsible Green the service performance benchmarks used by all Corporation strategy. The strategic initiatives business actors in the airport industry, and taking performed by the company include “Eco-Airport” into account the aspirations of the Company’s Concept Implementation, Effective Corporate shareholders. Social Responsibilities (CSR) Program, and “Green Corporation” Concept Implementation. REVENUE ENHANCEMENT PT Angkasa Pura I (Persero) has adopted Revenue KEY ENABLERS Enhancement strategy to increase revenues To strengthen the above winning strategies, PT by not only focusing on quantitative amount Angkasa Pura I (Persero) has established 5 (five) of revenue, but also on revenue composition. Key Enablers, such as: Revenue composition enhancement is achieved through non-aeronautical revenue, which is the HIGH PERFORMING CULTURE amount of revenue from reliable sources which In creating an organizational culture that can ensure the continuation of the strengthening has excellence, PT Angkasa Pura I (Persero) of the Company in long term. Strategic initiatives implemented strategic initiatives, such as: High performed by the company to support Revenue Performing Culture, Effective Performance Enhancement strategy include Non-Aero Revenue Management System, and Effective Performance- and Profitability Maximization, Subsidiaries Based Incentive System. Profitability Maximization, and New Profitable Business Development. EFFECTIVE LEADERSHIP The increasingly dynamic business development COST AND RISK MANAGEMENT demands dynamic management of human Cost and Risk Management Strategy is the resources. Therefore, PT Angkasa Pura I (Persero) strategy of PT Angkasa Pura I (Persero) in investing implemented Effective Leadership by initiating selectively and prudently by focusing on cost Leadership Effectiveness Enhancement in efficiency, risk management, and implementation encouraging leadership effectiveness.

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CUSTOMER CENTRIC ORGANIZATION 3. Products and Processes Effectiveness PT Angkasa Pura I (Persero) implemented Customer a. Airport Development and Service Level Centric Organization strategy to encourage Improvement the organization to be customer-focused by b. Increase in the procurement system initiating Business Process Reengineering, Lean through the implementation of and Customer Centric Organization and Effective framework contracts Parenting Model Establishment. c. Improve the monitoring of investment programs WORLD CLASS ICT AND MANAGEMENT SYSTEM 4. Workforce Focus PT Angkasa Pura I (Persero) implemented World a. Creating a Lean and Customer Centric Class ICT and Management System to realize Organization through the implementation world-class ICT consiting of initiatives of World of Job Scoring Analysis Class Management System implementation (for b. Effective Career Management System example HC Management), Effective Management through the implementation of System, Parenting Policy Development, and Competency Assessment Holding Company System Development c. All employees’ individual (Reporting and Taxation). d. Improvement of the quality of the Human Capital Information System (HCIS) system COMPETENT HUMAN CAPITAL 5. Leadership, Governance and Social In managing Human Capital, PT Angkasa Responsibility Pura I (Persero) employed Competent Human a. Ensuring the implementation of Capital strategy by initiating the Effective People transparency in Corporate Governance Development Program and the World Class Talent b. Compliance with the implementation of Management System. applicable laws and regulations c. Meeting the standards of the Excellence Based on Winning Strategies , the Company’s Performance Assessment Criteria Strategy for 2019 is derived as follows: (KPKU) as a reference for managing the 1. Finance and Markets company’s operations a. Acceleration of the external loan process d. Ensuring the channeling of partnership for investment financing funds, increasing the collectibility of b. Intensifying the collection of account return on partnership fund loans and receivable increase the absorption capacity of the c. Optimizing the use of funds donation distribution of the Community d. Growth of business revenue and Development program profitability optimization 6. Agent of Development 2. Focus on Customers a. Strategic Partnership for Potential Airports a. Focus on improving operational services b. Management of Potential UPT Airport for by meeting the level of service standards business development. b. Reparations of the airport facilities and terminal beautification c. Improvement of the service to customers by implementing the AOCC and Contact Center “Bandara172”

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Production Tool Facility

PT Angkasa Pura I (Persero) has production warehouses, and parking lots in all airports tool facilities which include runways, aprons, managed by the Company. Some of the production aviobridges, passenger terminals, cargo facilities are described below:

Main Production Tool per 31 December 2019

Terminal

Avio- Airport Runway Apron International Domestic VIP Cargo bridge

mxm Parking stand (m2) (unit) Area (m2) and capacity (Pax/tahun)

North Apron Area: 82.899 m2 126.162 m2 67.884 m2 189,669 m2 Cap: 47 PS 16.000.000 DPS 3,000mx45m 30 9.000.000 ,ppa 7,074 m2 73,327 ton/year South Apron mppa Area: 83.020 m2 Cap: 16 PS

Area: 325.318 m2 45.093 m2 62.700 m2 11,702 m2 Cap: 51 PS 5.000.000 SUB 3,000mx45m 25 6.000.000 mppa - 116,324 ton/year Cargo Apron: mppa Area: 47.700 m2

RW 03L-21 3.815 m2 808,42 m2 6,780 m2 3,100mx45m Area: 220.827 m2 47.190 m2 UPG 6 400.000 mppa 60-100 pax 76,131 ton/year RW 13-31 Cap: 43 PS 7.000.000 mppa 2500mx45m

2,394 m2 12,000 m2 Area: 111.800 m2 7.624 m2 102.934 m2 BPN 2,500mx45m 11 100 pax 61,900 ton/year Cap: 18 PS 600.000 mppa 14.000.000 mppa

3,545 m2 Area: 30.060 m2 5.936 m2 17.196 m2 JOG 2,200mx45m 0 NONE 23,752 ton/year Cap: 11 PS 600.000 mppa 2.400.000 mppa

Area: 80.412 m2 9.043 m2 1.049,95 m2 972 m2 BDJ 2,500mx45m 3 Cap: 8 PS 1.600.000 mppa 150 pax 22.297 ton/year

Area: 72.522 m2 59.406 m2 2.560 m2 SRG 2,560mx45m 3 300 m2 Cap: 12 PS 6,900,000 mppa 16.097 ton/year

Area: 48.386 m2 28.750 m2 5.800 m2 7,517 m2 LOP 2,750mx45m 4 Cap: 10 PS 3.400.000 mppa 35 pax 17,216 ton/year

Area: 98.994 m2 5.996 m2 20.560 m2 8,882 m2 MDC 2,650mx45m 4 1,220 m2 Cap: 20 PS 500.000 mppa 3.000.000 mppa 15,258 ton/year

Area: 99.423 m2 8.732 m2 24.618 m2 2,732 m2 SOC 2,600mx45m 4 - Cap: 12 PS 230.000 mppa 3.900.000 mppa 8,500 ton/year

Area: 40.747 m2 10.270 m2 1.440 m2 2,836 m2 AMQ 2,500mx45m 2 Cap: 10 PS 1.200.000 mppa 180 pax 7,971 ton/year

Area: 40.747 m2 7,642 m2 2,300 m2 KOE 2,500mx45m 0 NONE Cap: 12 PS 1.000.000 mppa 6,954 ton/year

Area: 35.876 m2 3,165 m2 615,05 m2 855 m2 BIK 3,570mx45m 0 Cap: 5 PS 500,000 mppa 110 pax 1,319 ton/year

Area: 80.412 m2 15.137 m2 894 m2 YIA 2.250mx45m 10 - Cap: 8 PS 1.200.000 mppa 21.593 ton/year

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Marketing Aspect

Based on Government Regulation No. 25 of 1987 regulations. In accordance with Minister of dated 19 May 1987, PT Angkasa Pura I (Persero) has Transportation Regulation No. PM 36 of 2014, the been granted the authority to manage airports in determination of tariffs for airport services which Central and Eastern Indonesia, while PT Angkasa include PJP4U, PJP2U, Aviobridge, Counters, and Pura II (Persero) manages airports in Western PJKP2U require a prior recommendation from the Indonesia. Other airports not managed by Minister of Transportation. Angkasa Pura I and II are under the management of the Technical Implementation Unit (UPT) of the With these regulations, PT Angkasa Pura I (Persero)’s Ministry of Transportation. marketing concept cannot be compared to the marketing strategies of other companies in general. In addition, the price aspect especially in the This section discusses the company’s marketing aeronautical segment as an important marketing aspect, which includes marketing strategies and component is also regulated under government market share for products and services.

Marketing Strategy

The Company has a Directorate of Marketing and and foreign tourists had a positive impact Services that is responsible for promotional and on the company. Through the Directorate of marketing activities, which emphasizes service quality Marketing and Services, in 2019 PT Angkasa Pura and customer experience, both for aeronautical and I (Persero) organized various events for driving non-aeronautical services. demand and traffic growth in airports managed by the company, which included Collaborative During 2019, the marketing strategy of PT Angkasa Destination Development (CDD) and Gathering Pura I was focused on implementing quality with regulators and partners. Additionally, the services and creating value for airport users, Company conducted joint marketing with airline from access to boarding. The Company also operators, provincial and local governments and promoted excellence in airport services, such as stakeholders of the tourism industry. services for people with special needs, effective commercial concept, and fast track for security Throughout 2019, several promotional activities and immigration. In addition, the Company also organized by PT Angkasa Pura I (Persero) or prioritized client relationship management and those involving PT Angkasa Pura I (Persero) can brand value strengthening strategies. be seen in the following table:

Promotional Activities Furthermore, PT Angkasa Pura I (Persero) collaborated with the Government and business actors in the tourism industry to market attractions, amenities and accessibilities of tourist destinations. In general, the increase in domestic

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Promotional Activities and Involvement of PT Angkasa Pura I (Persero) in Various Events in 2019

No Date Venue Activities

National

1 18 September 2019 Yogyakarta Development of 5 Super Priority Tourism Destinations

International

1 10 – 12 March 2019 Cebu, Philippines Routes Asia 2019

2 21 – 24 September 2019 Adelaide, Australia World Routes 2019

3 13 – 15 April 2019 Shanghai, China Cargo Fact 2019

Additional Routes and Landing Fee In 2019, the landing fee incentive for airline was Incentives discount from total Landing Service cost for PT Angkasa Pura I (Persero) provided landing domestic and international flights for 12 (twelve) fee incentive policies to airlines that opened new months in the amount of 100% for 11 (eleven) routes. With these incentives, it was expected to airports managed by PT Angkasa Pura I (Persero), support the development of new routes to have including: a positive impact on increasing passenger traffic using airport services.

Landing Fee Incentive Provided To Airlines That Open New Routes

No Airport Domestic Flights International Flights

1 SAMS Sepinggan – Balikpapan 100% 100%

2 Juanda – Surabaya Not Applicable 100%

3 Sultan Hasanuddin – Makassar 100% 100%

4 Sam Ratulangi – Manado 100% 100%

5 Syamsuddin Noor – Banjarmasin 100% 100%

6 Jenderal Ahmad Yani – Semarang 100% 100%

7 Adi Soemarmo – Solo 100% 100%

8 Internasional Lombok - Praya 100% 100%

9 Pattimura – Ambon 100% 100%

10 Frans Kaisiepo – Biak 100% 100%

11 El Tari – Kupang 100% 100%

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Besides incentives for new routes, PT Angkasa Pura I (Persero) opened 103 new routes at eight Pura I (Persero) also provides incentive for an airports. Details on the incentives for new routes increase in flight frequency. In 2019, PT Angkasa are as follows:

Incentive Distribution for Airlines in 2019 by PT Angkasa Pura I (Persero)

No Airport Total Route

1 I Gusti Ngurah Rai – Denpasar 7 New Routes

2 Juanda – Surabaya 8 New Routes

3 Internasional Lombok - Praya 2 New Routes

4 Jenderal Ahmad Yani – Semarang 12 New Routes

5 Adi Soemarmo – Solo 2 New Routes

6 Sam Ratulangi – Manado 4 New Routes

7 Adisutjipto – Yogyakarta 44 New Routes

8 SAMS – Balikpapan 24 New Routes

Total 103 New Routes

One of the significant opening routes was the Parking, and Hangar Services (PJP4U), Passenger opening of the route by Transnusa. In 2019, Service Charge (PJP2U), Aviobridge, Countes, Transnusa opened a route from SAMS Airport and Aircraft Cargo and Postal Service (PJKP2U), – Balikpapan to Jenderal Ahmad Yani Airport – it needed to obtain a prior recommendation Semarang. from the Ministry of Transportation. In 2018, there were tariff adjustments for PJP2U (Passenger Pricing is one of the important aspects in Service Charge), PJP4U (Aircraft Landing, Parking marketing, considering that prices are a reflection and Hangar Services), Check-in Counter and of the results (returns) received by the Company for Aviobridge for domestic and international flights services that have been provided to its customers. at 13 (thirteen) PT Angkasa Pura I (Persero) airports. In its implementation, in accordance with the regulation of the Minister of Transportation Following are the tariff adjustments made in 2019 Number PM. 36 of 2014, regarding the stipulation of by PT Angkasa Pura I (Persero): tariffs for airport services including Aircraft Landing,

Passenger Service Charge (PJP2U) Tariff

New Rate (Rp) No Airport Effective Date Domestic International

1 Jenderal Ahmad Yani - Semarang - 210,000 25 December 2019 2 SAMS Sepinggan - Balikpapan 100,000 -

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Airport Service Quality In order to measure the performance of airport Council International (ACI). In 2019, ACI assessed 10 products and services, PT Angkasa Pura I (Persero) airports managed by the Company. The improved uses the Customer Satisfaction Index (CSI) scores showed better performance and indicated assessment method. In 2019, CSI assessment was an improvement in the quality of airport services carried out at 13 airports. The survey results showed compared to the previous year. an increase in CSI in 2019 compared to 2018. Details of the CSI and ASQ assessments can be In addition to using the CSI approach, PT Angkasa found in the Corporate Social and Environmental Pura I (Persero) also participated in the Airport Responsibility Chapter of this Annual Report. Service Quality (ASQ) assessment by the Airport

Market Share

The market conditions in the airport industry in was aircraft traffic of 35.61% and the last was cargo Indonesia can be divided into three factors, namely movements of 26.24%. The share of passenger passenger movements, aircraft traffic and cargo movements, aircraft movements and cargo movements. In 2019, the largest share was passenger movements consecutively decreased by 2.97%, 5.01%, movements of 40.21%. The second largest share and 5.86% compared to the previous year.

Total of National Aviation Market Share in the Last Three Years

Description Growth in 2019 (%) 2019 2018 2017

Based on Passenger Movements (2.97) 40,21 41.44 43.40

Based on Aircraft Traffic (5,01) 35.61 37.49 42.89

Based on Cargo Movements (5.86) 24.26 25.77 26.70

Diagram of National Aviation Market Share 2019

40,21 35,61 Passenger Movements

Aircraft Traffic

Cargo Movements

24,26

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 185 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

In general, the market share of PT Angkasa Pura I The market share of PT Angkasa Pura I (Persero) (Persero) showed a decline from the previous year for passenger movements in 2019 increased by compared to PT Angkasa Pura II (Persero). The 2.17% from 41.44% to 42.36% compared to PT largest market share for passenger movements, Angkasa Pura II (Persero). Further, the market aircraft traffic and cargo movements was owned share for aircraft traffic increased by 9.16% from by PT Angkasa Pura II (Persero). PT Angkasa 37.49% in 2018 to 41.27% in 2019. The market share Pura I (Persero) had a market share of 42.36% for for cargo movements in 2019 was 36% or increased passenger movements, 41,27% for aircraft traffic by 28.43% from 25.77% in 2018. and 36,00% for cargo movements.

PT Angkasa Pura I (Persero) Market Share in 2019 (%)

PT Angkasa Pura I PT Angkasa Pura II Description (Persero) (Persero)

2019

Based on Passenger Movements 42.36 44.09

Based on Aircraft Traffic 41.27 43.95

Based on Cargo Movements 36,00 64,00

2018

Based on Passenger Movements 41.44 47.79

Based on Aircraft Traffic 37.49 38.90

Based on Cargo Movements 25.77 52.46

2017

Based on Passenger Movements 43.40 50.77

Based on Aircraft Traffic 42.89 44.51

Based on Cargo Movements 26.70 54.02

Diagram of Market Share of PT Angkasa Pura I (Persero) in 2019 by Passenger Movements

90.700.000

AP 1

AP 2

Passengers

81.532.700

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Diagram of Market Share of PT Angkasa Pura I (Persero) in 2019 by Aircraft Traffic

736.000

AP 1

AP 2

Aircraft

707.202

Diagram of Market Share of PT Angkasa Pura I (Persero) in 2019 by Cargo Movements

732.000.000 427.135.421

AP 1

AP 2

Cargo

PT Angkasa Pura I (Persero) cooperated with other 5. – companies in the construction and operation of 6. Juwata Airport – Tarakan Airport. In addition, the Company is going to 7. Domine Eduard Osok Airport – Sorong conduct studies and acquisitions at 7 (seven) UPT airports, namely: These various efforts are expected to increase 1. Syukuran Aminuddin Amir Airport – Luwuk the market share of PT Angkasa Pura I (Persero), 2. Jayapura Airport – Sentani especially in the next five years. 3. Mutiara SIS Al Jufrie Airport – 4. APT Pranoto Airport – Samarinda

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Performance Per Operating Segment

Business Segment Aeronautical business segment provides services, The Company’s business segments consists of including: aeronautics (airport) and non-aeronautics (non- a. Aircraft Landing, Parking and Hangar Services airport). However, in carrying out its operations, the (PJP4U). business of PT Angkasa Pura I (Persero) is categorized b. Passenger Service Charge (PJP2U). by divisions of operation, namely aeronautics, non- c. Extend and Advance. aeronautics, cargo, and others and subsidiaries. d. Garbarata Service (Aviobridge). e. Counter Check-In Usage. Aeronautical Service Business Segment f. Baggage Handling System. (Airport Aeronautical Production/Service Aeronautical services performance of PT Angkasa (Airport) Pura I (Persero) for the last three years can be seen in the following table:

Aeronautical Services Performance of PT Angkasa Pura I (Persero) in 2017-2019

Description Unit Growth 2019 2018 2017

Aircraft Landing, Parking and Hangar Ton -13% 25,016,634 28,681,347 28,098,099 Services (PJP4U)

Domestic Ton -17% 18,204,152 21,971,121 21,883,742

International Ton 2% 6,812,482 6,710,226 6,214,357

Passenger Service Charge (PJP2U) Pax -16% 35,755,591 42,349,974 40,078,358

Domestic Pax -13% 25,016,634 28,681,347 28,098,099

International Pax -17% 18,204,152 21,971,121 21,883,742

Extend and Advance Hr 2% 6,812,482 6,710,226 6,214,357

Domestic Hr -59% 6,68 16,359 15,945

International Hr -58% 6,247 14,701 14,458

Use of Aviobridge Ton -74% 433 1,659 1,487

Domestic Ton -6% 28,302,004 30,253,959 28,116,989

International Ton -11% 17,488,015 19,655,806 18,818,445

Use of Counter Pax 2% 10,813,989 10,598,153 9,298,544

Domestic Pax -16% 35,640,003 42,242,630 39,906,428

International Pax -21% 26,933,352 34,026,851 32,452,235

Baggage Handling System* Pax 6% 8,706,651 8,215,779 7,454,193

*BHS/HBS tariff components have been included in the Passenger Service Charge (PJP2U) tariff component

PT Angkasa Pura I (Persero) 188 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Generally, the Company’s operational performance, before the end of the relevant airport operating time. particularly for domestic services, experienced a Submission is made in writing to General Manager negative growth throughout 2019. The main factor with copy for Airport Duty Manager. causing this condition a rise in airfares, resulting in many domestic air passengers to reduce their Overall, extension of operating time (extend and air activities by airplane or instead using other advance) decreased by 59% or 9,679 hours from 16,359 transportation alternatives. hours in 2018 to 6,680 hours in 2019. Extension of domestic operating hours decreased by 58% or 8,454 For international flights, PT Angkasa Pura I (Persero) hours from 14,701 hours in 2018 to 6,247 hours in 2019. recorded a growth in aeronautical services with Meanwhile, extension of international operating time a range of 2 – 6%. However, Extend and Advance decreased sharply by 74% or 1,226 hours from 1,659 services in 2019 experienced a significant percentage hours in 2018 to 433 hours in 2019. reduction in both international (74%) and domestic (58%) services. COUNTER USAGE In relation to counter usage, in 2019, PT Angkasa Pura AIRCRAFT LANDING, PARKING AND HANGAR I (Persero) recorded that counter usage decreased SERVICES (PJP4U) by 16% or 6.6 million pax from 42,242,630 pax in 2018 PJP4U production in 2019 was 25,016,634 tons, to 35,640,003 pax in 2019. Domestic counter usage decreased by 3.67 million tons or 13% from 2018 which decreased by 21% or 7,093,499 pax from 34,026,851 pax reached 28,681,347 tons. Domestic PJP4U production in 2018 to 26,933,352 pax in 2019. On the other hand, was 18,204,152 tons, decreased by 3.77 million tons or international counter usage in 2019 increased by 6% 17% from 2018 which reached 21,971,121 tons. , domestic or 490,872 pax compared to those in 2018 of 8,215,779 PJP4U delivery decreased by 17% or 3.77 million tons. pax. On the other hand, international PJP4U production increased by 102,256 tons or 2% from 6,710,226 tons in AVIOBRIDGE USAGE 2018 to 6,812,482 tons in 2019. Aviobridge usage in 2019 was 28,302,004 tons, declined by 6% or 1,951,955 tons from 30,253,959 tons in 2018. PASSENGER SERVICE CHARGE (PJP2U) Domestic aviobridge usage declined by 11% or 2,171 As of 31 December 2019, PJP2U production decreased million tons from 19,655,806 tons in 2018 to 17,488,015 by 6.6 million pax or 16% from 42,349,974 pax in 2018 tons in 2019. Further, international aviobridge usage to 35,755,591 pax in 2019. Further, domestic PJP2U increased by 2% or 215,836 tons from 10,598,153 tons in production decreased by 7.1 million pax or 21% from 2018 to 10,813,989 tons in 2019. 34,032,778 pax in 2018 to 26,938,294 pax in 2019. On the other hand, international PJP2U production BAGGAGE HANDLING SYSTEM increased by 500,101 pax or 6% from 8,317,196 pax in PT Angkasa Pura I (Persero) has installed Baggage 2018 to 8,817,297 pax in 2019. Handling System (BHS) facility as its commitment to maintain passenger safety and comfort. BHS facility EXTEND AND ADVANCE is a conveyor system used to transport arriving and PT Angkasa Pura I (Persero) has a policy to charge departing passengers’ baggage, especially after additional fees for airport usage service outside inspection and check-in process. BHS facility is directly operating time for Air Transportation Company integrated with Hold Baggage Screening which is a or Aircraft Operator. In this context, every Air baggage check by x-ray machine to automatically Transportation Company or Aircraft Operator is determine the security status of baggage to be required to submit application for extension of airport distributed according to check, sorting, and baggage operating time (extend/ advance) at least 2 (two) hours destination results.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 189 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

AERONAUTICAL PRODUCTION/SERVICE Some activities performed by the Company to CAPACITY (AIRPORTS) increase capacity including Collaborative Destination In 2019, PT Angkasa Pura I (Persero) has increased Development and International Conference and the capacity of aeronautical services (airports) despite Route Development. a decline in passenger movements throughout the year. The Company remains optimistic that in The following table shows the increase in aeronautical the future, air travel demand will increase, so that services capacity (airports) in 2019. investment needs to be encouraged to prepare for the future challenges.

Capacity Enhancement of PT Angkasa Pura I (Persero) Aeronautical Services 2019

Description Unit Enhancement Capacity 2019 Capacity 2018

Aircraft Landing, Parking and Ton -13% 28.681.347 25.016.634 Hangar Services (PJP4U)

Domestic Ton -17% 21.971.121 18.204.152

International Ton 2% 6.710.226 6.812.482

Passenger Service Charge (PJP2U) Pax -16% 42.349.974 35.755.591

Domestic Pax 21% 34.032.778 26.938.294

International Pax 6% 8.317.196 8.817.297

Extend and Advance Hr -59% 16.359 6.680

Domestic Hr -58% 14.701 6.247

International Hr -74% 1.659 433

Aviobridge Usage Hr -6% 30.253.959 28.302.004

Domestic Ton -11% 19.655.806 17.488.015

International Ton 2% 10.598.153 10.813.989

Counter Usage Ton -16% 42.242.630 35.640.003

Domestic Pax -21% 34.026.851 26.933.352

International Pax 6% 8.215.779 8.706.651

Baggage Handling System Pax 100% 979.580 528

PT Angkasa Pura I (Persero) 190 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

SALES/REVENUE OF AERONAUTICAL In the midst of declining passenger movements SERVICES (AIRPORT) due to high airfare, PT Angkasa Pura I (Persero) The decline in the number of airport users has recorded revenue growth from PJP4U throughout 2019 has resulted in a significant and aviobridge usage of 23.99% and 30.59%, decrease in operational performance. This also had respectively. On the other hand, a sharp decrease an impact on the decline in operating revenues. in revenue occurred from BHS use by 99.95%. In However, PT Angkasa Pura I (Persero) recorded the aggregate, aeronautical services revenue a decrease in operating revenue of only 2.69%, decreased by Rp 137.71 billion or 2.69% from Rp 5.11 which is insignificant compared to the decline in trillion in 2018 to Rp 4.97 trillion in 2019. airline traffic and the number of airport users in Indonesia as a whole. The following table presents data on operating revenues from the Company’s aeronautical services in the last three years:

Sales Revenues from PT Angkasa Pura I (Persero) Aeronautical Services for 2017-2019

2019 2018 2017 Description Growth 2019 (%) (in thousand (in thousand (in thousand rupiah) rupiah) rupiah)

Aircraft Landing, Parking and Hangar Services 23.99 892,877,554 720,128,251 574,447,311 (PJP4U)

Passenger Service Charge (PJP2U) -8.18 3,534,959,602 3,849,746,920 3,401,969,489

Aviobridge Usage 30.59 233,100,869 178,501,862 137,776,838

Counter and Conveyor Usage 11.01 149,868,725 135,002,277 113,527,631

Baggage Handling System (BHS) Usage -99.95 5,280 9,796,840 58,063,920

Aircraft Cargo and Postal Services (PJKP2U) -25.10 165,124,057 220,472.195 240,070,511

Total Sales/Revenues -2.69 4,975,936,088 5,113,648,346 4,525,855,700

Non-Aeronautical Service Business e. Billboard space rental Segment f. Event and promotion Non-Aeronautical Services Production/ g. Lounge Service (Non-Airport) h. Maintenance and service fees PT Angkasa Pura I (Persero) has included aviation supporting services in non-aerounatical business The Company’s non-aeronautical services segment, which consists of: performance in 2019 recorded different growth. a. Rents, namely room rental, land rental, rent, Several types of services that experienced positive and hangar rental, etc. growth include billboard rental space, event and b. Concession on businesses at airport. promotion, and cargo warehouse services. On the c. Parking and airport pass other hand, the types of services recorded to have d. Utility (electricity, water, phone and internet negative growth include rent, concession, parking, services). lounge, as well as maintenance and service fee.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 191 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

The declining number of airport users triggered Performance in the last three years related to by high passenger airfares was a major factor in non-aeronautical services of PT Angkasa Pura I the declining performance of PT Angkasa Pura I (Persero) is presented in the following table: (Persero), including non-aeronautical services.

Performance of Non-Aeronautical Service of PT Angkasa Pura I (Persero) in 2017-2019

Growth in Description Unit 2019 2018 2017 2019 (%)

Rents m2xmonth 27% 9,488,436 7,490,291 8,542,321

Concession Rp/000 -7% 26,023,806,416 27,881,233,723 9,570,569,203

Car Parking Ticket -15% 28,264,917 33,371,374 29,096,030

Motorcycle Parking Ticket -7% 10,455,258 11,232,860 9,762,063

Airport Pass Ticket -55% 50,597 113,496 221,718

Electricity Usage Kwh -17% 43,807,615 52,675,053 45,850,618

Water Use m3 19% 626,363 525,845 495,704

Telephone Use PwtxMonth -11% 18,423 20,702 21,391

Data Service KiloByte 24% 1,228 994 854

Billboard Space Rental m2xMonth 534% 76,674 12,087 20,766

Event and Promotion EA 171% 9,971 3,679 7,650

Lounge Pax -33% 197,788 295,891 575,135

General Aviation Terminal (GAT) Rp/000 - 0 0 15.111.387 Concession

Maintenance and Service Fee EA -60% 5,474 13,711 21,426

Total Cargo Warehouse Services Kg 5% 91,179,716 86,754,808 238,361,160

Out-Domestic Cargo Warehouse Kg 66% 14,964,611 9,001,475 74,994,202 Service

Out-International Cargo Warehouse Kg 122% 18,831,844 8,471,092 36,081,086 Service

Inc-Domestic Cargo Warehouse Service Kg 119% 22,089,108 10,072,173 105,326,396

Cargo Warehouse Service Kg -40% 35,294,152 59,210,067 21,959,476

RENTS CONCESSION Rental services increased by 27% or 1,998,145 m2 The Company receives concession revenues from from 7,490,291 m2 in 2018 to 9,488,436 m2 in 2019. companies operating in airports, such as Food The reason for the increase in the number of rental and Beverage, Retail, Services, and Aircraft Cargo services is the development of a new airport in Expedition (EMPU), Regulated Agent (RA), Ground 2019. Handling, and In-Flight Catering Companies. This

PT Angkasa Pura I (Persero) 192 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

revenue is generated from airport facility usage LOUNGE right for third party related to business activity In line with the decrease in the number of flight performed in the airport. service users, the usage of lounge decreased by 33% or 98,103 pax from 295,891 pax in 2018 to Realization of concession production throughout 197,788 pax in 2019. 2019 decreased by 7% or Rp 1,857,427,307 thousand from Rp 27,881,233,723 thousand in 2018 to Rp WAREHOUSING 26,023,806,416 thousand in 2019. In addition to significant growth in billboard space rental, cargo warehouse service in 2019 CAR AND MOTORCYCLE PARKING was 91,179,716 kg, increased by 5% or 4,424,908 PT Angkasa Pura I (Persero) provides car and kg compared to the previous year. This increase motorcycle parking facilities for airport users. In indicated high market demand for shipping 2019, motorcycle parking service decreased by 7% service by air and positive economic growth in or 777,702 units from 11,232,860 units in 2018 to 2019. 10,455,258 units in 2019. Meanwhile, car parking services also decreased by 15% or 5,106,457 units from 33,371,374 in 2018 to 28,264,917 in 2019. This decrease was in line with the reduction in flight service users due to high airfares, making it inaccessible for certain sections of the public.

Airport Pass Airport pass in the last reporting period was 50,597, decreased by 55% or 62,899 passes from 113,496 passes in 2018. The decrease in the use of airport pass facility was due to decreased number of flight service users.

BILLBOARD RENTAL SPACE Performance of billboard rental space in 2019 recorded a significant growth of 534% or 64,587 2m , from 12,087 m2 in 2018 to 76,674 m2 in 2019. It was due to change of billboard business pattern from billboard space rental to concession of advertising in several airports.

DATA SERVICE PT Angkasa Pura I (Persero) provides data service at airports in order to improve the convenience of flight service users. In 2019, data service usage increased by 24% or 234 EA, from 994 EA in 2018 to 1,228 EA in 2019. Change in lifestyles towards digital lifestyle in Indonesia has led to demand for data service in various places, including in airport area.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 193 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Non-Aeronautical Production/Service Capacity (Non-Airports) In 2019, PT Angkasa Pura I increased the Some efforts to increase the capacity of non- capacity of non-aeronautical services (non- aeronautical services include increasing the airports). Despite the decrease in several types production of rental equipment for new airports of services, PT Angkasa Pura I continues to and changing of cooperation form from area develop its capabilities in order to achieve greater (concession) to per point (billboard rental). opportunities in the years to come.

Capacity Enhancement of Non-Aeronautical Services of PT Angkasa Pura I (Persero) in 2019

Growth 2019 Description Unit Capacity in 2019 Capacity in 2018 (%)

Rents m2xmonth 8% 9.488.400 7.490.291

Concession Rp/000 -6% 26.334.753 27.908.952

Car Parking Ticket -15% 28.263.548 33.355.753

Motorcycle Parking Ticket -7% 10.455.258 11.232.860

Airport Pass Ticket -55% 50.597 113.496

Electricity Usage Kwh -17% 43.805.615 52.675.053

Water Use m3 19% 626.363 525.845

Telephone Use PwtxMonth -11% 18.480 20.702

Data Service KiloByte 24% 1.228 994

Billboard Space Rental m2xMonth 141% 76.674 31.860

Event and Promotion EA 171% 9.971 3.679

Lounge Pax -33% 197.788 295.891

General Aviation Terminal (GAT) Rp/000 - - - Concession

Maintenance and Service Fee EA -60% 5.474 13.711

Total Cargo Warehouse Services Kg 5% 91.179.716 86.754.807

Out-Domestic Cargo Warehouse Kg 66% 14.964.611 9.001.475 Service

Out-International Cargo Warehouse Kg 122% 18.831.844 8.471.092 Service

Inc-Domestic Cargo Warehouse Service Kg 119% 22.089.108 10.072.173

Cargo Warehouse Service Kg -40% 35.294.152 59.210.067

PT Angkasa Pura I (Persero) 194 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Sales/Revenues of Non-Aeronautical Services (Non-Airport) In the midst of a decline in the number of On the other hand, the smallest contributor was flights and passengers, in 2019 PT Angkasa Pura events and promotion amounting to Rp37.63 I (Persero) managed to increase revenue from billion. Along with the decline in passenger non-aeronautical services by 7%. In this regard, movements, revenue from waiting room also total non-aeronautical revenues increased from declined by 35%, from Rp 211.33 billion in 2018 to Rp 3.41 trillion in 2018 to Rp 3.66 trillion in 2019. Rp138.29 billion in 2019.

Revenue from concession increased by 10% and The following table presents sales/revenues of PT was the largest contributor in 2019 amounting to Angkasa Pura I (Persero) non-aeronautical services Rp1.71 trillion. in the last three years:

Sales/ Revenues of PT Angkasa Pura I (Persero) Non-Aeronautical Services for 2017-2019

2019 2018 2017 Description Growth 2019 (%) (in thousand (in thousand (in thousand rupiah) rupiah) rupiah)

Non-Aeronautical Facilities Usage -6% 420,492,455 447,436,647 335,052,570

Rental Revenue 9% 761,535,330 696,473,431 577,628,369

Waiting Room Usage -35% 138,296,643 211,332,198 114,123,735

Concession Revenue 10% 1,707,521,693 1,554,211,200 1,267,167,188

Event and Promotion 20% 37,636,364 31,267,755 35,066,205

Warehousing and Logistics 29% 295,897,412 229,173,525 201,756,729

Maintenance and Service Fee 8% 88,756,461 82,402,681 67,654,833

Other Services 32% 205,473,157 155,141,527 70,042,205

Total Non-Aeronautical Service Revenue 7% 3,655,609,514 3,407,438,964 2,668,491,834

Profitability of Aeronautical and Accordingly, in terms of profitability per business Non-Aeronautical Services Business segment, the aeronautical segment recorded Segments negative operating profit growth of Rp 807 billion In 2019, PT Angkasa Pura I (Persero) posted or 36.09%, bringing the total operating profit of total aeronautical and non-aeronautical this segment to Rp 1.43 trillion. On the other hand, services revenue of Rp 4.01 trillion and Rp 6.48 operating profit in the non-aeronautical segment trillion, respectively. The decline in passenger in 2019 increased by 72.89% or Rp 379.06 billion, movements during the year caused operating with total operating profit of Rp 1.37 trillion. revenues for aeronautical segment to decrease by Rp 1.10 trillion or 21.59 %. On the other hand, The following table shows data on financial non-aeronautical segment revenue increased by performance per business segment for 2019 and Rp 1.38 trillion or 27.10%. 2018 and its growth:

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 195 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Revenue and Profitability of PT Angkasa Pura I (Persero) Aeronautical and Non-Aeronautical Services Business Segments in 2019 (in thousand rupiah)

2019

Description Airport Non-Airport Total Elimination Consolidation

OPERATING REVENUES

Third Party 3,891,295,455 4,740,250,147 8,631,545,602 - 8,631,545,602

Related Party 121,738,203 1,740,811,505 1,862,549,708 (1,862,549,708) -

Total Revenues 4,013,033,658 6,481,061,652 10,494,095,310 (1,862,549,708) 8,631,545,602

OPERATING EXPENSES

Third Party 2,391,618,455 3,546,247,396 5,937,865,851 - 5,937,865,851

Related Party 191,010,882 1,561,377,821 1,752,388,703 (1,752,388,703) -

Total Operating Expenses 2,582,629,337 5,107,625,217 7,690,254,554 (1,752,388,703) 5,937,865,851

OPERATING PROFIT 1,430,404,321 1,373,436,435 2,803,840,756 (110,161,005) 2,693,679,751

NON-OPERATING REVENUES (EXPENSES)

Non-Operating Revenues 1,316,556 (663,259,946) (661,943,390) - (661,943,390) (Expenses)

Associates’ Profit (Loss) - (8,952,137) (8,952,137) - (8,952,137)

Profit Before Tax 1,431,720,877 701,224,352 2,132,945,229 (110,161,005) 2,022,784,224

Final Tax - - (109,731,383) - (109,731,383)

Income Tax - - (460,825,675) - (460,825,675)

Profit After Tax 1,431,720,877 701,224,352 1,562,388,171 (110,161,005) 1,452,227,166

Profit Attributable to:

Owner of Parent Entity - - - - 1,451,359,978

Non-Controlling Interest - - - - 867,188

Total Current Year Profit 1,431,720,877 701,224,352 1,562,388,171 (110,161,005) 1,452,227,166

Revenue and Profitability of PT Angkasa Pura I (Persero) Aeronautical and Non-Aeronautical Services Business Segments in 2018 (in thousand rupiah)

2018

Description Airport Non-Airport Total Elimination Consolidation

OPERATING REVENUES

Third Party 5,007,316,777 3,513,770,533 8,521,087,310 - 8,521,087,310

Related Party 110,865,981 1,585,342,726 1,696,208,707 (1,696,208,707) -

Total Revenues 5,118,182,758 5,099,113,259 10,217,296,017 (1,696,208,707) 8,521,087,310

PT Angkasa Pura I (Persero) 196 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

OPERATING EXPENSES

Third Party 2,707,645,131 2,896,647,452 5,604,292,583 - 5,604,292,583

Related Party 172,258,081 1,408,087,038 1,580,345,119 (1,580,345,119) -

Total Operating Expenses 2,879,903,212 4,304,734,490 7,184,637,702 (1,580,345,119) 5,604,292,587

OPERATING PROFIT 2,238,279,546 794,378,765 3,032,658,311 (115,863,588) 2,916,794,723

NON-OPERATING REVENUES (EXPENSES)

Non-Operating Revenues - (96,285,033) (96,285,033) - (96,285,033) (Expenses)

Associates’ Profit (Loss) - 2,552,006 2,552,006 - 2,552,006

Profit Before Tax 2,238,279,546 700,645,738 2,938,925,284 (115,863,588) 2,823,061,696

Final Tax - - 128,127,639 - 128,127,639

Income Tax - - 689,015,898 - 689,015,898

Profit After Tax 2,343,454,753 700,645,738 2,121,781,747 (115,863,588) 2,005,918,159

Profit Attributable to:

Owner of Parent Entity - - - - 2,007,018,317

Non-Controlling Interest - - - - (1,100,156)

Total Current Year Profit 2,343,454,753 700,645,738 2,121,781,747 (115,863,588) 2,005,918,159

Revenue and Profitability Growth of PT Angkasa Pura I (Persero) Aeronautical and Non-Aeronautical Services Business Segments in 2018 (in thousand Rupiah)

2018

Description Airports Non-Airport Total Elimination Consolidation

Rp % Rp % Rp % Rp % Rp %

OPERATING REVENUES

Third Party (1,116,021,322) (22.29) 1,226,479,614 34.90 110,458,292 1.30 - - 110,458,292 1.30

Related Party 10,872,222 9.81 155,468,779 9.81 166,341,001 9.81 (166,341,001) 9.81 - -

Total Revenues (1,105,149,100) (21.59) 1,381,948,393 27.10 276,799,293 2.71 (166,341,001) 9.81 110,458,292 1.30

OPERATING EXPENSES

Third Party (316,026,676) (11.67) 649,599,944 22.43 333,573,268 5.95 - - 333,573,268 5.95

Related Party 18,752,801 10.89 153,290,783 10.89 172,043,584 10.89 (172,043,584) 10.89 - -

Total Operating Expenses (297,273,875) (10.32) 802,890,727 18.65 505,616,852 7.04 (172,043,584) 10.89 333,573,268 5.95

OPERATING PROFIT (807,875,225) (36.09) 579,057,666 72.89 (228,817,559) (7.55) 5,702,583 (4.92) (223,114,976) (7.65)

NON-OPERATING REVENUES (EXPENSES)

Non-Operating Revenues 1,316,556 - (566,974,913) 588.85 (565,658,357) 587.48 - - (565,658,357) 587.48 (Expenses)

Associates’ Profit (Loss) - - (11,504,143) (450.79) (11,504,143) (450.79) - - (11,504,143) (450.79)

Profit Before Tax (806,558,669) (36.03) 578,614 0.08 (805,980,055) (27.42) 5,702,583 (4.92) (800,277,472) (28.35)

Final Tax - - - - (237,859,022) (185.64) - - (237,859,022) (185.64)

Income Tax - - - - (1,149,841,573) (166.88) - - (1,149,841,573) (166.88)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 197 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Financial Review

The Public Accounting Firm (KAP) of Purwanto, all material matters, consolidated financial position Sungkoro and Surja has audited the Company’s of PT Angkasa Pura I (Persero) and its subsidiaries Consolidated Financial Statements for the years that on 31 December 2019 and 2018, as well as business ended on 31 December 2019 and 2018. Based on the revenue, equity change and consolidated cash flows audit outcomes, the firm has provided fair opinion in for the years that ended in those dates.

Financial Performance

This section discusses the Consolidated Statement Statement, which indicate the performance of PT of Financial Position, Income and Comprehensive Angkasa Pura I (Persero) for the reporting period of 1 Income Statement and Consolidated Cash Flow January - 31 December 2019.

Consolidated Statement of Financial Position

Consolidated Statement of Financial Position of PT Angkasa Pura I (Persero) for the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

ASSETS

Current Assets

Cash and Cash Equivalent 2,361,789,792 75% 5,510,903,592 3,149,113,800 4,146,085,966

Short-Term Investment 187,755,531 39% 665,862,312 478,106,781 407,155,975

Trade Receivables – Net

Third Party (30,261,173) -7% 389,314,007 419,575,180 427,375,259

Related Party 48,116,078 53% 138,453,120 90,37,042 92,919,624

Other Receivables 40,632,505 102% 80,344,191 39,711,686 19,053,290

Inventories (15,403,794) -18% 69,404,026 84,807,820 68,668,359

Advance Payment and Prepaid Expenses (19,421,102) -12% 139,959,625 159,380,727 72,003,022

Accrued Revenue (7,421,891) -2% 291,022,438 298,444,329 225,606,033

Prepaid Tax 473,092,576 129% 840,957,804 367,865,228 105,569,123

Other Current Assets 36,010,306 127% 64,277,125 28,266,819 13,395,768

Total Current Assets 3,074,891 60% 8,190,498,240 5,115,606,412 5,577,832,420

LIABILITIES

Short Term Liability

Accrued Expenses (89,751,509) -6% 1,322,288,034 1,412,039,543 1,379,558,217

Trade Payables:

Third Party (332,574,858) -57% 255,047,300 587,622,158 239,965,248

PT Angkasa Pura I (Persero) 198 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Consolidated Statement of Financial Position of PT Angkasa Pura I (Persero) for the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Related Party (41,898,626) -41% 59,820,083 101,718,709 10,812,049

Prepaid Income (18,930,583) -13% 128,332,276 147,262,859 97,657,593

Tax Payables 32,266,598 8% 425,502,215 393,235,617 586,915,606

Short-Term Bank Loans 52,379,600 50% 158,010,670 105,631,070 76,718,537

Current Portion of Long-Term Debt (403,022,252) -43% 538,975,837 941,998,089 720,938,954

Other Payables (632,669,369) -16% 3,292,812,136 3,925,481,505 1,232,182,579

Total Short Term Liability (1,434,200,999) -19% 6,180,788,551 7,614,989,550 3,948,861,194

Long-Term Liability

Long-Term Bank Loans 11,338,211,283 211% 16,724,208,207 5,385,996,924 3,665,693,887

Bonds and Sukuk Ijarah Debt 1,195,495 0% 2,994,896,323 2,993,700,828 2,992,474,960

Other Long-Term Debt 218,442,607 128% 388,971,461 170,528,854 174,905,265

Employee Benefits Liability 134,898,231 45% 437,293,206 302,394,975 549,244,430

Deferred Tax Liability (9,194,317) -10% 79,885,504 89,079,821 -

Total Long-Term Liability 11,683,553,299 131% 20,625,254,701 8,941,701,402 7,382,318,542

TOTAL LIABILITIES 10,249,352,300 62% 26,806,043,252 16,556,690,952 11,650,348,788

EQUITY

Share Capital - 0% 6,414,412,000 6,414,412,000 6,414,412,000

Additional Paid in Capital 8,588,878

State Equity Participation (PMN) - 0% 22,963,207 22,963,207 255,096,706

Book Value of Fixed Asset Navigation - 0% (37,004,793) (37,004,793) (269,138,292) from State Equity Participation (PMN)

Accumulated Depreciation of Fixed Asset - 0% 408,393,524 408,393,524 408,393,524 Navigation from BPYPDS

Other Comprehensive Income (70,686,418) -2387% -67,725,696 2,960,722 74,064,750

Retained Earnings:

Appropriated 1,545,404,103 25% 7,774,022,361 6,228,618,258 5,093,757,108

Current Year Earnings (555,658,337) -28% 1,451,359,978 2,007,018,315 1,418,577,150

Total Equity Attributable to:

Owner of Parent Entity 927,648,226 6% 15,975,009,459 15,047,361,233 13,395,162,946

Non-Controlling Interest 634,95 13% 5,498,388 4,863,436 6,298,096

TOTAL EQUITY 928,283,178 6% 15,980,507,847 15,052,224,669 13,401,461,042

TOTAL LIABILITIES AND EQUITY 11,177,635,478 35% 42,786,551,099 31,608,915,621 24,732,640,778

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 199 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Financial Positions of PT Angkasa Pura I (Persero) in the Last Three Years (in million Rupiah)

45.000.000 42.786.551 40.000.000 31.608.916 35.000.000 30.310.472 30.000.000 26.806.043 25.000.000 16.556.691 20.000.000 15.052.225 15.980.508 13.401.461 15.000.000 11.331.179 10.000.000 5.000.000 0 2017 2018 2019

Asset Liability Equity

Asset Positions of PT Angkasa Pura I (Persero) in the Last Three Years (in million Rupiah)

40.000.000 34.596.053 35.000.000 30.000.000 26.493.309 24.732.640 25.000.000 20.000.000 15.000.000 8.190.498 10.000.000 5.577.832 5.115.606 5.000.000 0 2017 2018 2019

Current Asset Non-Current Asset

Liability Positions of PT Angkasa Pura I (Persero) in the Last Three Years (in million Rupiah)

25.000.000 20.625.255 20.000.000 15.000.000 8.941.701 7.382.318 7.614.990 10.000.000 6.180.789 5.000.000 3.948.861 0 2017 2018 2019

Short-Term Liability Long-Term Liability

PT Angkasa Pura I (Persero) 200 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

ASSETS In 2019, the Company recorded growth in total in 2018. The growth in total assets was due to an assets of 35% or Rp 11,177 billion to Rp 42,786 increase in current assets of Rp 3,075 billion and billion, compared to Rp 31,608 billion recorded non-current assets of Rp 8,013 billion.

Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Current Asset 3,074,891,828 60% 8,190,498,240 5,115,606,412 5,577,832,420

Non-Current Asset 8,102,743,650 31% 34,596,052,859 26,493,309,209 19,154,808,358

Total Assets 11,177,635,478 35% 42,786,551,099 31,608,915,621 24,732,640,778

CURRENT ASSET In total, in 2019 the Company’s current assets cash equivalents derived from loan disbursements to increased by Rp 3.075 billion or 60% compared to 2018. finance airport construction projects in Yogyakarta, The increase was mainly due to realization of cash and Surabaya, and Makassar.

Current Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Cash and Cash Equivalent 2,361,789,792 75% 5,510,903,592 3,149,113,800 41,46,085,966

Short-Term Investment 187,755,531 39% 665,862,312 478,106,781 407,155,975

Trade Receivables:

Third Party (30,261,173) -7% 389,314,007 419,575,180 427,375,259

Related Party 48,119,078 53% 138,453,120 90,337,042 92,919,624

Other Receivables 40,632,505 102% 80,344,191 39,711,686 19,053,290

Inventories (15,403,794) -18% 69,404,026 84,807,820 68,668,359

Advance Payment and (19,421,102) -12% 139,959,625 159,380,727 72,003,022 Prepaid Expenses

Accrued Revenue (7,421,891) -2% 291,022,438 298,444,329 225,606,033

Prepaid Tax 473,092,576 129% 840,957,804 367,865,228 105,569,123

Other Current Assets 36,010,306 127% 64,277,125 28,266,819 13,395,768

Total Current Assets 3,074,891,828 60% 8,190,498,240 5,115,606,412 5,577,832,420

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 201 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Cash and Cash Equivalents In 2019, the position of cash and cash equivalents had in Kulonprogo, Yogyakarta, expansion of the experienced an increase by Rp 2,262 billion or 75%. Surabaya Airport terminal, development of the compared Rp 3.15 trillion in 2018. This was due to: Banjarmasin Airport and development of Bali • Cash obtained from operating activities Airport. amounting to Rp 1.5 trillion from aeronautical • Cash obtained from funding activities amounting and non-aeronautical revenue. to Rp 10.5 trillion, mainly from receipt of long- • Cash used for investment amounting to Rp term debt. 9.7 trillion, mainly for addition of fixed assets, among others the fixed assets at new airport

Cash and Cash Equivalents of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Cash (286,626) -15% 1,598,780 1,885,406 1,656,418

Bank 107,867,618 12% 987,863,812 879,996,194 733,442,312

Deposit 2,254,208,800 99% 4,521,441,000 2,267,232,200 3,410,987,236

Total 2,361,789,792 75% 5,510,903,592 3,149,113,800 4,146,085,966

Short-Term Investment The Company’s short-term investments increased by investments in bonds; and maturity of investment in Rp 187 billion or 39% from 2018, which amounted to Rp Danareksa Melati Premium Dollar Mutual Fund and 478 billion. The increase was mainly due to additional Sinarmas Mutual Fund. time deposits from Bank BRI and Bukopin; additional

Short-Term Investments of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Term Deposits > 3 Months 264,839,700 100% 264,839,700 - 10,200,000

Bonds – available for sale 3,634,348 19% 22,790,392 19,156,044 19,178,167

Mutual Funds (80,718,517) -18% 378,232,220 458,950,737 377,777,808

Total 187,755,531 39% 665,862,312 478,106,781 407,155,975

Trade Receivables – Net Trade receivables increased by Rp 17.8 billion or 4% receivables from related parties amounting to Rp from Rp 509.91 billion in 2018 to Rp 527.76 billion in 48.11 billion and a reduction of the trade receivables 2019. This increase was mainly due to a rise in trade from the third parties amounting to Rp 30.26 billion.

PT Angkasa Pura I (Persero) 202 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Trade Receivables – Net of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Third Party (30,261,173) -7,21% 389,314,007 419,575,180 427,375,259

Related Party 48,116,078 53,26% 138,453,120 90,337,042 92,919,624

Total Trade Receivables 17,854,905 3,50% 527,767,127 509,912,222 520,294,883

Other Receivables - Net Other receivables, net increased by Rp 40.6 billion or in 2019. This increase was due to the increase of other 102% from Rp 39.71 billion in 2018 to Rp 80.34 billion receivables from the third party by Rp 40.62 billion.

Other Receivables, Net of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Third party 40,627,573 93,69% 83,990,931 43,363,358 20,784,921

Impairment loss allowance 4,932 -0,14% (3,646,740) (3,651,672) (1,731,631)

Total Other Receivables - 40,632,505 102,32% 80,344,191 39,711,686 19,053,290 Net

Inventories Inventories decreased by Rp 15.4 billion or 18% from The decrease was due to an increase in the use of Rp 84.81 billion in 2018 to Rp 69.4 billion in 2019. maintenance spare parts, office and printing supplies.

Inventories of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Maintenance spare parts (25,069,674) -59% 17,195,257 42,264,931 36,884,042

Office and printing supplies (3,568,130) -11% 30,264,587 33,832,717 19,738,913

Merchandise inventory 12,333,554 208% 18,274,762 5,941,208 6,822,910

Fuel inventory (26,589) -1% 2,446,291 2,472,880 2,329,763

Hotel and lounge supplies (601,467) -32% 1,260,045 1,861,512 2,929,647

Total (16,932,306) -20% 69,440,942 86,373,248 68,705,275

Impairment allowance 1,528,512 -98% (36,916) (1,565,428) (36,916)

Total (15,403,794) -18% 69,404,026 84,807,820 68,668,359

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 203 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Advance Payment and Prepaid Expense The company recorded a decrease in advance in 2019. This was due to a decrease in the realization payment and prepaid expense by Rp 19.42 billion or of employee cost advances and the use of prepaid 12%, from Rp 159.38 billion in 2018 to Rp 139.96 billion inventory.

Advance Payment and Prepaid Expense of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Current Portion (19,421,102) -12% 139,959,625 159,380,727 (72,003,022)

Accrued Revenue Accrued revenues decreased by Rp 7.4 billion or 2% 60.42 billion and the increase in accrued revenue from Rp 298.44 billion in 2018 to Rp 291.02 billion in from non-aeronautical services amounting to Rp 2019. This decrease was mainly due to a decrease in 51.45 billion. accrued revenue from aeronautical services of Rp

Accrued Revenue of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Aeronautical Service (60,420,149) -32% 131,198,556 191,618,705 174,811,169

Non-Aeronautical Service 51,454,221 51% 152,838,505 191,618,71 44,263,507

Others 1,544,037 28% 6,985,377 5,441,340 6,531,357

Total (7,421,891) -2% 291,022,438 298,444,329 225,606,033

Prepaid Tax Prepaid tax increased by Rp 473 billion or 129%, from at Syamsudin Noor Airport, . Further, Rp 367.87 billion in 2018 to Rp 840.96 billion in 2019. payment was made on additional VAT Input for This increase was mainly due to the increase in VAT subsidiaries on the purchase of Garbarata and Power input of Rp 400 billion on new assets of.Yogyakarta Mover Systems at Yogyakarta International Airport International Airport project and a new terminal and Syamsudin Noor Airport, Banjarmasin.

PT Angkasa Pura I (Persero) 204 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Prepaid Tax of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company

VAT Input 404,030,611 178% 631,013,856 226,983,245 33,388,706

Subsidiaries

VAT Input 73,509,562 54% 209,943,948 136,434,386 69,656,825

Income Tax Article 28 (4,447,597) -100% - 4,447,597 -

Income Tax Article 22 - - - - 57,416

Income Tax Article 23 - - - - 2,281,528

Other Taxes - - - - 184,648

Total 473,092,576 129% 840,957,804 367,865,228 105,569,123

Other Current Assets Other current assets increased by Rp 36.01 billion billion in 2019. The other current assets emanated or 127%, from Rp 28.27 billion in 2018 to Rp 64.28 from advance payment of projects.

Other Current Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Other Current Assets 36,010,306 127% 64,277,125 28,266,819 13,396,769

NON-CURRENT ASSETS Total non-current assets recorded in 2019 was Rp All of the increase in non-current assets was related 34.59 trillion, increased by Rp 8.1 trillion or 30.58% from to the development of Airport in Banjarmasin and Rp 26.49 trillion recorded in 2018. The growth of non- Airport project in Kulonprogo. current assets of PT Angkasa Pura I (Persero) was dominated by the growth of fixed assets by Rp 7.98 trillion or 30.56%,consisted of: • reduction of land fixed assets of Rp 5.55 billion • growth of field structures of Rp 862.05 billion • buildings of Rp 606.32 billion • equipment of Rp 472.39 billion, vehicles of Rp 16.39 billion • Installations of Rp 73.22 billion

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 205 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Non-Current Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Estimated Tax Bill 112,711,091 - 112,711,091 - 83,863,138

Deferred Tax Assets 7,337,726 17.83% 48,494,898 41,157,172 -

Long-Term Advance (21,656,639) 63.10% 12,665,215 34,321,854 52,741,388 Payment and Prepaid Expenses

Long-Term Investment 9,156,873 9.10% 109,819,185 100,662,312 86,642,338

Property Investment, Net 1,015,442 0.79% 128,888,175 127,872,733 247,036,296

Fixed Assets 7,989,126,253 30.56% 34,127,910,920 26,138,784,667 18,627,786,052

Intangible Assets 1,144,092 2.70% 43,466,476 42,322,384 48,998,474

Other Non-Current Assets 3,909,352 47.75% 12,096,899 8,187,547 6,226,600

Total Non-Current Assets 8,102,743,650 30.58% 34,596,052,859 26,493,309,209 19,154,808,358

Estimated Tax Bill The estimated tax bill was recorded at Rp 112.71 billion, no estimated tax bill was recorded in the previous year.

Estimated Tax Bill of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company 99,018,495 - 99,018,495 -

Subsidiaries 13,692,596 - 13,692,596 -

Total 112,711,091 - 112,711,091 -

Deferred Tax Assets Deferred tax assets increased by Rp 7.33 billion or 17.83%, from Rp 41.16 billion in 2018 to Rp 48.49 billion in 2019.

Deferred Tax Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company - - - - 51,980,772

Subsidiaries 7,337,186 17.83% 48,494,898 41,157,712 31,882,366

Total 7,337,186 17.83% 48,494,898 41,157,712 83,863,138

PT Angkasa Pura I (Persero) 206 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Long-Term Advance Payment and Prepaid Expenses Long-term advance payments and prepaid of Rp 27.37 billion, and additional advance of Rp expenses decreased by Rp 21.65 billion or 63.10%, 10.29 billion as permanent contribution for Sentani from Rp 34.32 billion in 2018 to Rp 12.66 billion in Airport managed by PT Angkasa Pura I (Persero) 2019. This decrease was mainly due to amortization to the Directorate General of Civil Aviation. of house rent assistance to Company employees

Long-Term Advance Payment and Prepaid Expenses of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Advance Payment and (41,077,741) -21,21% 152,624,840 193,702,581 124,744,410 Prepaid Expenses

Current Portion 19,421,102 -12,19% (139,959,625) (159,380,727) (72,003,022)

Non-Current Portion (21,656,639) -63,10% 12,665,215 34,321,854 52,741,388

Long-Term Investment Long-term investment increased by Rp 9.16 billion of Indonesia Eximbank BEXI04BCN7 Sustainable or 9.10%, from Rp 100.66 billion in 2018 to Rp Bonds with a carrying value of Rp 10.07 billion. 109.82 billion in 2019. This was due to the purchase

Long-Term Investment of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Bonds 11,986,195 89.71% 25,347,300 13,361,105 45,682,461

Equity Participation in (2,829,322) (3.24%) 84,471,885 87,301,207 86,300,400 Associated Entities

Joint Operation - - - - 341,938

Total 9,156,873 9.10% 109,819,185 100,662,312 86,642,338

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 207 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Investment Property, Net Investment property, net increased by Rp 1.01 billion or 0.79%, from Rp 127.87 billion in 2018 to Rp 128.88 billion in 2019.

Investment Property, Net of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Acquisition Cost

Land 4,936,470

Buildings/ Fields 21.30% 28,115,530 23,179,060 13,994,221

Accumulated Depreciation and Impairment Value

Buildings/Fields 3,921,028 10.22% 42,272,143 38,351,115 66,547,821

Book Value 1,015,442 0.79% 128,888,175 127,872,733 247,036,296

Fixed Assets PT Angkasa Pura I (Persero) recorded an increase The increase was due the development projects in fixed assets of Rp 7,989 billion or 30.56%, from of Syamsudin Noor Airport, Banjarmasin and Rp 26,138 billion in 2018 to Rp 34,127 billion in 2019. Yogyakarta International Airport, Kulon Progo.

Fixed Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Acquisition Cost

Land (5,556,041) -0.09% 6,245,109,933 6,250,665,974 795,978,770

Structures (fields) 1,183,198,296 17.34% 8,008,456,026 6,825,257,730 5,324,562,457

Buildings 784,289,394 12.11% 7,261,245,424 6,476,956,030 5,456,264,612

Aviation Equipment (11,780,379) -41.45% 16,638,040 28,418,419 28,441,193

Vehicle 71,912,733 14.44% 569,900,886 497,988,153 482,998,121

Installations 162,396,437 12.83% 1,428,106,778 1,265,710,341 1,089,651,001

Equipment 876,461,857 16.02% 6,348,936,733 5,472,474,876 4,760,468,424

Assets under Construction 5,964,402,860 98.51% 12,018,982,252 6,054,579,392 6,425,749,706

Total 9,025,325,157 27.46% 41,897,376,072 32,872,050,915 24,364,114,284

Accumulated Depreciation 1,036,198,904 15.39% 7,769,465,152 6,733,266,248 5,736,328,232 and Impairment Value

Book Value 7,989,126,253 30.56% 34,127,910,920 26,138,784,667 18,627,786,052

PT Angkasa Pura I (Persero) 208 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Intangible Assets PT Angkasa Pura I (Persero) recorded an increase consultation fee of the ERP software support. in intangible assets by Rp 1.15 billion or 2.70%, Amortization expense of the intangible assets from Rp 42.32 billion in 2018 to Rp 43.47 billion during 2019 and 2018 were entirely charged to the in 2019. Software intangible assets are mainly airport operational expenses. the installations cost, implementation and

Intangible Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Acquisition Cost

Software

Company 6,254,052 7.79% 86,581,756 80,327,704 78,044,791

Subsidiaries 5,467,290 84.75% 11,918,089 6,450,799 4,313,532

Total 11,721,342 13.51% 98,499,845 86,778,503 82,358,323

Accumulated Amortization and Impairment Value

Software

Company 9,679,548 22.27% 53,141,808 43,462,260 32,712,532

Subsidiaries 897,702 90.32% 1,891,561 993,859 647,317

Total 10,577,250 23.79% 55,033,369 44,456,119 33,359,849

Total Intangible Assets, Net 1,144,092 2.70% 43,466,476 42,322,384 48,998,474

Other Non-Current Assets Other Non-current assets increased by Rp 3.91 billion or 47.75%, from Rp 8.19 billion in 2018 to Rp 12.10 billion in 2019.

Other Non-Current Assets of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Other Non-Current Assets 3,909,352 47.75% 12,096,899 8,187,547 6,226,600

LIABILITIES Liabilities recorded in 2019 amounted to Rp A factor in this increase was the rise in non-current 26.81 trillion, representing an increase of Rp 10.25 liabilities worth Rp 11.68 trillion on long-term bank trillion or 61.90% compared to the year before. loans.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 209 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Liability of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Current Liability (1,434,200,999) 18.83% 6,180,788,551 7,614,989,550 3,948,861,194

Non-Current Liability 11,683,553,299 130.66% 20,625,254,701 8,941,701,402 7,382,318,542

Total Liability 10,249,352,300 61.90% 26,806,043,252 16,556,690,952 11,650,348,788

CURRENT LIABILITY Current liability in 2019 was Rp 6,181 billion, decreased billion for payables settlement of acquisition of fixed by 18.83% or Rp 1,434 billion. This decrease emanated assets of Rp 446.78 billion. from the decrease of other payables by Rp 632.67

Current Liability of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Trade Payables (374,473,484) (54.32%) 314,867,383 689,340,867 250,777,297

Other Payables (632,669,369) (16.12%) 3,292,812,136 3,925,481,505 1,232,182,579

Prepaid Income (18,930,583) (12.85%) 128,332,276 147,262,859 97,657,593

Accrued Expenses (89,751,509) (6.36%) 1,322,288,034 1,412,039,543 1,379,558,217

Tax Payables 32,266,598 8.21% 425,502,215 393,235,617 267,746,554

Short-Term Bank Loan 52,379,600 49.59% 158,010,670 105,631,070 76,718,537

Current Portion of Long- (403,022,252) (42.78%) 538,975,837 941,998,089 644,220,417 Term Loan

Total Current Liabilities (1,434,200,999) (18.83%) 6,180,788,551 7,614,989,550 3,948,861,194

Trade Payables Trade payables decreased by Rp 374 billion or the settlement of third party trade payables of Rp 54.32%, from Rp 689 billion in 2018 to Rp 314 307 billion for the construction of YIA Airport in billion in 2019. The decrease was mainly due to Kulonprogo.

Trade Payables of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Third Party (332,574,858) (56.60%) 255,047,300 587,622,158 239,965,248

Related Party (41,898,626) (41.19%) 59,820,083 101,718,709 10,812,049

Trade Payables (374,473,484) (54.32%) 314,867,383 689,340,867 250,777,297

PT Angkasa Pura I (Persero) 210 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Other Payables Other payables decreased by Rp 632.67 billion settlement from the acquisition of fixed assets of or 16.12%, from Rp 3.93 trillion in 2018 to Rp 3.29 Rp 464.78 billion. trillion in 2019. The decrease was due to payable

Other Payables of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Acquisition of Fixed Assets (464,783,074) (13.86%) 2,889,176,416 3,353,959,490 718,602,046

Customer Guarantee (126,834,446) (34.23%) 243,728,335 370,562,781 367,904,347

Tantiem Work Incentive (25,000,000) (25.00%) 75,000,000 100,000,000 40,869,678

Debtor’s Deposit (8,822,327) (28.29%) 22,364,293 31,186,620 47,694,000

Vendor Guarantee (10,455,155) (34.29%) 20,032,940 30,488,095 16,296,494

Manager’s Deposit (4,470,744) (18.98%) 19,078,496 23,549,240 21,652,326

BMKG and DJU’s Deposits (500,475) (3.81%) 12,643,085 13,143,560 14,133,950

Contribution 4,898,255 214.52% 7,181,591 2,283,336 4,525,375

Deposits/ Other Payables 3,298,597 1069.64% 3,606,980 308,383 2,057,363

Total (632,669,369) (16.12%) 3,292,812,136 3,925,481,505 1,232,182,579

Prepaid Income Prepaid income decreased by Rp 19 billion or a decrease in prepaid domestic income by Rp 18 12.85%, from Rp 147 billion in 2018 to Rp 128 billion billion. in 2019. This decrease was largely influenced by

Prepaid Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Domestic Income (18,842,192) (12.83%) 128,075,183 146,917,375 97,436,153

International Income (88,391) (25.58%) 257,093 345,484 221,440

Total (18,930,583) (12.85%) 128,332,276 147,262,859 97,657,593

Accrued Expenses Accrued expenses decreased by Rp 89.75 billion airport service, although an increase was recorded or 6.36%, from Rp 1.41 trillion in 2018 to Rp 1.322 in some other accounts. trillion in 2019. The decrease in accrued expenses emanated from the decrease of Rp 92.97 billion in

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 211 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Accrued Expenses of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Employee (42,158,708) (8.87%) 432,869,194 475,027,902 393,061,087

Airport services (92,969,751) (20.88%) 352,327,734 445,297,485 279,028,352

General (41,541,992) (15.12%) 233,257,539 274,799,531 446,439,085

Maintenance 34,931,550 77.01% 80,289,872 45,358,322 90,923,458

Rent 21,558,266 48.09% 66,389,530 44,831,264 56,046,321

Interest 7,396,110 18.88% 46,576,249 39,180,139 35,157,897

Utility 8,525,051 31.34% 35,726,758 27,201,707 32,340,238

Tax 8,618,819 42.89% 28,713,370 20,094,551 20,067,543

Supply 7,519,627 58.02% 20,480,106 12,960,479 9,778,110

Others (1,630,481) (5.98%) 25,657,682 27,288,163 16,716,126

Total (89,751,509) (6.36%) 1,322,288,034 1,412,039,543 1,379,558,217

Tax Payables Tax payables increased by Rp 32.27 billion or 8.21%, 4 (2) final of Rp 28.37 billion for construction work from Rp 393.24 billion in 2018 to Rp 425.50 billion on the development of the Banjarmasin Airport in 2019. The increase was due to Income Tax Article and Kulonprogo Airport projects.

Tax Payables of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company

Input VAT 2,881,676 1.97% 149,507,016 146,625,340 22,471,377

Output VAT 8,645,193 10.49% 91,028,438 82,383,245 70,381,766

Income Tax Article 4 (2) 28,373,552 74.86% 66,273,593 37,900,041 3,407,953

Income Tax Article 25 1,202,291 7.83% 16,558,482 15,356,191 11,273,022

Income Tax Article 21 (14,202,551) (65.71%) 7,412,242 21,614,793 14,883,079

Income Tax Article 23 245,520 7.13% 3,688,088 3,442,568 2,269,604

Income Tax Article 22 758,702 195.01% 1,147,767 389,065 329,191

Income Tax Article 29 (363,867) (100.00%) - 363,867 48,619,955

PT Angkasa Pura I (Persero) 212 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Tax Payables of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Subsidiaries

Output VAT 24,539,506 47.21% 76,519,623 51,980,117 38,635,869

Income Tax Article 25 (16,380,347) (77.06%) 4,875,814 21,256,161 723,482

Income Tax Article 23 3,065,636 265.41% 4,220,704 1,155,068 1,448,143

Income Tax Article 21 483,238 29.62% 2,114,579 1,631,341 1,657,339

Income Tax Article 4 (2) (411,484) (28.82%) 1,016,195 1,427,679 5,370,398

Income Tax Article 29 (5,233,947) (100.00%) - 5,233,947 15,732,696

Other Tax (1,336,520) (53.97%) 1,139,674 2,476,194 30,505,004

Total 32,266,598 8.21% 425,502,215 393,235,617 267,746,554

Short-Term Bank Loan Short-Term Bank Loan increased by Rp 52.38 and Rp 24 billion from Bank Syariah Mandiri. billion or 49.59%, from Rp 105.63 billion in 2018 to Moreover, repayments were made against these Rp 158.01 billion in 2019. This increase was due to loans in 2019 amounting to Rp 52 billion and Rp additional bank loans of the subsidiaries, namely 36 billion, respectively. PT Angkasa Pura Properti and PT Angkasa Pura Support of Rp 116 billion respectively from Bank Pembangunan Derah Jawa Barat dan

Short-Term Bank Loans of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Subsidiaries

PT Bank Pembangunan 64,070,000 148.31% 107,270,000 43,200,000 - Daerah Jawa Barat and Banten Tbk

PT Bank Negara Indonesia - 0.00% 26,431,070 26,431,070 41,000,000 (Persero) Tbk

PT Bank Syariah Mandiri (11,690,400) (32.47%) 24,309,600 36,000,000 35,718,537

Total 52,379,600 49.59% 158,010,670 105,631,070 76,718,537

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 213 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Current Portion of Long-Term Loan NON-CURRENT LIABILITY The bank portion from overdue bank loan Non-current liability in 2019 was Rp 20.62 trillion, decreased by Rp 403.02 billion or 42.78%, from Rp increased by Rp 11.68 trillion or 131% compared to 942 billion in 2018 to Rp 538.98 billion in 2019. Rp 8.94 trillion in 2018. The increase in non-current liability was mainly due to the increase in Long-Term Bank Loan of Rp 11.34 trillion.

Non-Current Liability of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Long-Term Bank Loan 11,338,211,282 211% 16,724,208,204 5,385,996,924 3,665,693,887

Bonds and Sukuk Ijarah 1,195,495 0,04% 2,994,896,323 2,993,700,828 2,992,474,960 Debts

Other Long-Term Debt 218,891,660 128% 389,420,515 170,528,854 174,905,265

Employee Benefit Liability 134,898,231 45% 437,293,206 302,394,975 549,244,430

Deferred Tax Liability (9,194,318) -10% 79,885,504 89,079,821 -

Total Non-Current Liabilities 11,684,002,350 131% 20,625,703,752 8,941,701,402 7,382,318,542

Long-Term Bank Loan Long-term bank loan increased by Rp 11,338 billion In addition, there were long-term loans from or 211%, from Rp 5,385 billion in 2018 to Rp 16,724 Bank Mandiri, BRI and BNI, which are reclassified billion in 2019. This was due to the following: to the current portion due to maturity of Rp 483 • Withdrawal of bank loan facility amounting billion. to Rp 11.4 trillion, which was used to pay • An increase in long-term bank loans to for the Kulonprogo airport construction subsidiaries, with the following details: project, expansion of Surabaya airport a. Additional capital to Angkasa Pura terminal, development of Banjarmasin Support amounting to Rp 230 billion airport, expansion of Makassar airport, and from Bank BNI and BSM accompanied development of Bali airport. These loans by the realization of payment of Rp 31 emanated from: billion at the same banks. a. Syndicated Loan amounting to Rp 2.5 b. Additional capital to Angkasa Pura trillion; Properti amounting to Rp 15.5 billion from b. New loans from Bank Syariah Mandiri, Bank Muamalat, along with realization of BTN, Bank Mandiri in the amount of Rp 5 payment of Rp 1 billion at the same bank. trillion; c. Loans from BRI Syariah, BTN and SMI amounting to Rp 770 billion, Rp 1.5 trillion and Rp 1.6 trillion, respectively in 2019.

PT Angkasa Pura I (Persero) 214 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Long-Term Bank Loans of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company 10,757,089,701 171% 17,032,599,228 6,275,509,527 4,243,683,310

Subsidiaries 213,761,562 343% 276,036,763 62,275,201 66,230,994

Unamortized Loan Cost (35,662,232) 364% (45,451,947) (9,789,715) -

Substracted by: Current 403,022,252 -43% (538,975,837) (941,998,089) (644,220,417) Portion of Long-Term Bank Loans

Non-Current Portion 11,338,211,283 211% 16,724,208,207 5,385,996,924 3,665,693,887

Bond and Sukuk Ijarah Debts Bond and sukuk ijarah debts increased by Rp 1.19 2,994 billion in 2019. This was due to a decrease in billion or 0.04%, from Rp 2,993 billion in 2018 to Rp unamortized loan cost.

Bond and Sukuk Ijarah Debts of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Bond Debt - 0% 2,500,000,000 2,500,000,000 2,500,000,000

Sukuk Ijarah Debt - 0% 500,000,000 500,000,000 500,000,000

Unamortized Loan Costs 1,195,495 -19% (5,103,677) (6,299,172) (7,525,040)

Total 1,195,495 0,04% 2,994,896,323 2,993,700,828 2,992,474,960

Other Long-Term Debt Other long-term debt in 2019 was Rp 388.97 due to an increase in customer guarantee from billion, increased by Rp 218.44 billion or 128% from third party (PT Dufrindo International) in the Rp 170.53 billion in 2018. The increase was mainly amount of Rp 200 billion.

Other Long-Term Debt of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Prepaid Income (5,071,418) -5% 100,971,111 106,042,529 111,100,092

Customer Guarantee 225,760,443 385% 284,446,771 58,686,328 62,105,179

Supplier Business Guarantee (1,175,185) -31% 2,571,343 3,746,528 -

Others (1,071,233) -52% 982,236 2,053,469 1,699,994

Total 218,442,607 128% 388,971,461 170,528,854 174,905,265

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 215 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Employee Benefit Liability Employee benefit liability increased by Rp 134 program amounting to Rp 79.85 billion and the billion or 45%, from Rp 302.39 billion in 2018 to Rp Retirement Health Benefit amounting to Rp 58.18 437.29 billion in 2019. This increse was mainly due billion. to the increase in benefit liability for the annuity

Employee Benefits Liability of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company

Annuity 79,846,505 100% 79,846,505 - 200,657,269

Housing Allowance 1,800,240 9% 22,513,726 20,713,486 13,079,459

Achievement Award 9,814,764 77% 22,482,051 12,667,287 13,004,383

Retirement Health Benefit 58,181,220 100% 58,181,220 - 47,965,739

Pension Fund (23,176,263) -9% 229,669,098 252,845,361 265,546,625

Sub Total 126,466,466 44% 412,692,600 286,226,134 540,253,475

Subsidiaries 8,431,765 52% 24,600,606 16,168,841 8,990,955

Total 134,898,231 45% 437,293,206 302,394,975 549,244,430

Deferred Tax Liability Deferred tax liability decreased by Rp 9.19 billion deferred tax liability of the Company of Rp 16.92 or 10%, from Rp 89.08 billion in 2018 to Rp 79.89 billion and an increase in deferred tax liability of billion in 2019. This was mainly due to a decline in subsidiaries of Rp 7.73 billion.

Deferred Tax Liability of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Company (16,922,514) -20% 68,729,872 85,652,386 -

Subsidiaries 7,728,197 225% 11,155,632 3,427,437 -

Total (9,194,317) -10% 79,885,504 89,079,821 -

PT Angkasa Pura I (Persero) 216 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

EQUITY In 2019, the Company’s equity reached Rp 15,980 billion in 2018. This increase was mainly due to an billion, increasing by 6.16% compared to Rp 15,052 increase in retained earnings.

Equity of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Share Capital - - 6,414,412,000 6,414,412,000 6,414,412,000

State Equity Participation - - 22,963,207 22,963,207 255,096,706

Book Value of Fixed Assets - - (37,004,793) (37,004,793) (269,138,292) Navigation from State Equity Participation

Accumulated Depreciation - - 408,393,524 408,393,524 408,393,524 of Fixed Assets Navigation from BPYPDS

Appropriated 1,545,404,103 24.81 7,774,022,361 6,228,618,258 5,093,757,108

Unappropriated (555,658,337) (27.69) 1,451,359,978 2,007,018,315 1,418,577,150

Other Comprehensive (70,416,691) (2.617.02) (67,725,696) 2,690,722 74,064,750 Income

Total Equity Attributable to 927,648,226 6.16 15,975,009,459 15,047,361,233 13,395,162,946 Owner of Parent Entity

Non-Controlling Interest 634,952 13.06 5,498,388 4,863,436 6,298,096

TOTAL EQUITY 928,283,178 6.17 15,980,507,847 15,052,224,669 13,401,461,042

SHARE CAPITAL STATE EQUITY PARTICIPATION Authorized capital was 12,000,000 shares with a par Based on the Government Regulation No. 46 of 2018 value of Rp 1,000,000 (full amount) per share, issued dated September 27, 2018, the Company experienced and paid up capital was Rp 6,414,412,000 thousand or a deduction in State Equity Participation (PMN) of the 6,414,412 shares. Republic of Indonesia with a book value of Rp 232.13 billion to be added to the State Equity Participation of the Republic of Indonesia into the capital of Public Company of LPPNPI.

State Equity Participation of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Beginning Balance - - 255,096,706 255,096,706 255,096,706

Deduction - - (232,133,499) (232,133,499) -

Total - - 22,963,207 22,963,207 255,096,706

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 217 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

TRANSFER OF FIXED ASSETS NAVIGATION Reduction of Government’s capital through transfer b. Unspecified Government Assistance Status of assets navigation to LPPNPI was based on the (BPYBDS) in the form of fixed assets navigation letter of Minister of SOE No: S-46/MBU/2014 dated 30 that was returned to the government was January 2014 concerning approval of the transfer of Rp 731.28 billion consisting of Juanda Airport fixed assets navigation to Perum LPPNPI with a book Surabaya (Rp 69.31 billion), Hasanuddin Airport value of Rp270,83 billion. Makassar (Rp 26.01 billion), Adi Sutjipto Airport Yogyakarta (Rp 17.83 billion) and Makassar The effects of the transfer of fixed assets navigation to Air Traffic Services Center (MASTC) (Rp 635.95 Perum LPPNPI were as follows: miliar) with accumulated depreciation of Rp a. Fixed assets navigation as state equity 408.39 billion. participation in the Company were returned for c. Adjustment on handed-over assets navigation was a book value of Rp 270.83 billion in accordance a result of a clarification meeting related to the list with Company Letter No. AP.1.6724/PL.07/2013/ of assets from the assessment result of Directorate PD-B dated November 28, 2013 concerning General of State Assets held in October 17, 2014. The revision of the proposed transfer of fixed assets corrected assets from the handed list were a land in navigation to Perum LPPNPI, and based on Surabaya for Rp 93,955 thousand, a land in Kupang the Minutes of Change in Assigned Asset Value for Rp 377,625 thousand and MATSC Makassar for No. BA. 656/KU.21/2013/PDB dated December Rp 1,221,652 thousand. 30, 2013.

Transfer of Fixed Assets Navigation of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Book Value of Fixed Assets - - (269,138,292) (269,138,292) (270,831,524) Navigation

Corrections of Transfer of - - 232,133,499 232,133,499 1,693,232 Asset

- - (37,004,793) (37,004,793) 269,138,292

Accumulated Depreciation - - 408,393,524 408,393,524 408,393,524 of Fixed Assets Navigation

RETAINED EARNINGS Retained earnings in 2019 was Rp9.225 billion, increased by Rp989 billion or 12.02% compared 2018 that was Rp 8.235 billion.

Retained Earnings of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Retained Earnings

Appropriated 1,545,404,103 24.81 7,774,022,361 6,228,618,258 5,093,757,108

Unappropriated (555,658,337) (27.69) 1,451,359,978 2,007,018,315 1,418,577,150

Total 989,745,766 12.02 9,225,382,339 8,235,636,573 6,512,334,258

PT Angkasa Pura I (Persero) 218 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

OTHER COMPREHENSIVE INCOME NON-CONTROLLING INTEREST Other comprehensive income in 2019 was Rp Non-controlling interests in 2019 was Rp 5.50 billion, (67.72) billion, decreased by Rp 70.41 billion or 26.17% increased by 13.06% compared to Rp 4.86 billion in compared to Rp 2.69 billion in 2018. 2018.

EQUITY ATTRIBUTABLE TO OWNER OF PARENT ENTITY Equity attributable to owners of the parent entity increased by Rp 927.65 billion or 6.16%, from Rp 15,052 billion in 2018 to Rp 15,980 billion in 2019.

Non-Controlling Interest of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

PT Angkasa Pura Logistik 354,619 10.17 3.840.523 3,485,904 4,056,768

PT Angkasa Pura Support 36,748 2.91 1.298.311 1,261,563 2,076,171

PT Angkasa Pura Properti 763 1.00 76.749 75,986 102,244

PT Angkasa Pura Hotel 242,821 607.31 282.804 39,983 62,913

Total 634,951 13.06 5.498.387 4,863,436 6,298,096

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 219 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Consolidated Statement of Income and Other Comprehensive Income

Consolidated Stament of Income and Other Comprehensive Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

OPERATING REVENUES

Appropriated 1,545,404,103 24.81 7,774,022,361 6,228,618,258 5,093,757,108

Aeronautical Income (137,712,258) (2.69) 4,975,936,088 5,113,648,346 4,525,855,700

Non-Aeronautical Income 248,170,550 7.28 3,655,609,514 3,407,438,964 2,668,491,834

TOTAL 110,458,292 1.30 8,631,545,602 8,521,087,310 7,194,347,534

Airport Operating Expenses 128,185,961 4.07 3,280,187,024 3,152,001,063 (2,528,911,02)

Employee Expenses 36,791,374 2.37 1,590,667,332 1,553,875,958 (1,301,466,53)

General and Administration 41,400,403 4.06 1,030,352,218 1,020,434,219 (1,301,384,42) Expenses

Marketing Expenses (6,694,413) (18.42) 29,640,873 36,335,286 (75,155,175)

Other Income (91,947,251) (41.95) 127,257,058 219,204,309 48,872,595

Other Expenses 41,942,688 68.93 102,793,058 60,850,370 (61,810,882)

OPERATING PROFIT (223,114,945) (7.65) 2,725,162,155 2,916,794,696 1,974,492,094

Financial Income 29,477,416 17.46 198,326,544 168,849,128 253,144,578

Financial Expenses 595,135,773 224.47 860,269,934 265,134,161 (334,861,609)

Share in Profit of Associated 11,504,143 450.79 8,952,137 2,552,006 228,467 Entity

PROFIT BEFORE FINAL (800,277,472) (28.35) 2,054,266,628 2,823,061,696 183,003,530 INCOME TAX AND CORPORATE INCOME TAX

Final Tax Expenses (18,396,256) (14.36) 109,731,383 128,127,639 (103,506,155)

PROFIT BEFORE (781,881,216) (29.01) 1,944,535,245 2,694,934,057 1,789,497,375 CORPORATE INCOME TAX

CORPORATE INCOME TAX (228,190,223) (33.12) 492,308,079 689,015,898 (369,144,323) EXPENSES, NET

PROFIT OF CURRENT YEAR (553,690,993) (27.60) 1,452,227,166 2,005,918,159 1,420,353,052

OTHER COMPREHENSIVE INCOME

Items that will be Reclassified to Profit or Loss

Changes in Fair Value of 15,063,368 543.82 12,293,462 (2,769,906) 18,377,017 Financial Assets Available for Sale

PT Angkasa Pura I (Persero) 220 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Consolidated Stament of Income and Other Comprehensive Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Items that will not be Reclassified to Profit or Loss

Comprehensive Loss of (914,867) (58.98) (2,466,064) (1,551,197) 2,261,085 Associated Entity

Profit (Loss) of Acturial (13,741,192) (20.58) (80,524,121) (66,782,929) 110,823,515 Employee Benefits

OTHER COMPREHENSIVE (407,305) (0.57) (70,696,723) (71,104,028) 126,939,447 INCOME (LOSS) OF CURRENT YEAR AFTER TAX

TOTAL COMPREHENSIVE (552,723,326) (928.58) 1,381,530,443 1,934,253,769 1,547,292,499 INCOME OF CURRENT YEAR

Profit of Current Year Attributable to:

Owners of Parent Entity (555,658,337) (27.69) 1,451,359,978 2,007,018,315 1,418,577,150

Non-Controlling Interests 1,967,344 178.82 867,188 (1,100,156) 1,775,902

Total (553,690,993) (27.60) 1,452,227,166 2,005,918,159 1,420,353,052

Total Comprehensive Income (Loss) of Current Year Attributable to:

Owners of Parent Entity (554,240,827) (8.64) 1,380,673,460 1,935,914,287 1,545,516,597

Non-Controlling Interests 1,957,139 177.90 856,983 (1,100,156) 1,775,902

Total (552,283,688) -28.56 1,381,530,443 1,934,814,131 1,547,292,499

Profit Per Basic Share (full (86,627) (27.69) 226,265 312,892 221,155 amount)

Profit Per Diluted Share (full (78,197) (25.75) 225,458 303,655 212,696 amount)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 221 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

OPERATING REVENUES Operating revenues increased by Rp 110.45 billion Sentani and Samarinda airports, whose revenues compared to 2018. However, in terms of performance, had been budgeted since January 2019. Another this figure was below the Company Work Plan and cause was the increase in airfares which resulted in Budget (RKAP) target of 13.69% or Rp 1.37 trillion. the decline in public interest to use air transportation The unrealized operating revenue target was due modes. to unrealized takeover of UPT Labuan Bajo, Luwuk,

Operating Revenues of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Aeronautical Income (137,712,258) (2.69) 4,975,936,088 5,113,648,346 4,525,855,700

Non-Aeronautical Income 248,170,550 7.28 3,655,609,514 3,407,438,964 2,668,491,834

Total Operating Revenues 110,458,292 1.30 8,631,545,602 8,521,087,310 7,194,347,534

AERONAUTICAL INCOME Aeronautical Income decreased by Rp 137.71 billion airfares which led to a decline in consumer interest or 2.69%, from Rp 5,113 billion in 2018 to Rp 4,975 in using air transportation modes. billion in 2019. This decline was due to a rise in

Aeronautical Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Aircraft Landing, Parking 172,749,303 23,99 892,877,554 720,128,251 574,447,311 and Hangar Services (PJP4U)

Passenger Service Charge (314,787,318) (8,18) 3,534,959,602 3,849,746,920 3,401,969,489 (PJP2U)

Aviobridge Usage 54,599,007 30,59 233,100,869 178,501,862 137,776,838

Counter and Conveyor Usage 14,866,448 11,01 149,868,725 135,002,277 113,527,631

Baggage Handling System (9,791,560) (99,95) 5,280 9,796,840 58,063,920 (BHS) Usage

Aircraft Cargo and Postal (55,348,138) (25,10) 165,124,057 220,472,195 240,070,511 Services (PJKP2U)

Total Aeronautical Income (137,712,258) (2,69) 4,975,936,088 5,113,648,346 4,525,855,700

PT Angkasa Pura I (Persero) 222 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

NON-AERONAUTICAL INCOME Non-aeronautical income increased by Rp 248.17 to an increase in concession and warehousing billion or 7.28%, from Rp 3.41 trillion in 2018 to Rp service incomes. 3.65 trillion in 2019. This increase was mainly due

Non-Aeronautical Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Non-Aeronautical Facilities (26,944,192) (6,02) 420,492,455 447,436,647 335,052,570 Usage

Rental Income 65,061,899 9,34 761,535,330 696,473,431 577,628,369

Waiting Room Usage (73,035,555) (34,56) 138,296,643 211,332,198 114,123,735

Concession Income 153,310,493 9,86 1,707,521,693 1,554,211,200 1,267,167,188

Event and Promotion 6,368,609 20,37 37,636,364 31,267,755 35,066,205

Warehousing and Logistics 66,723,887 29,12 295,897,412 229,173,525 201,756,729

Maintenance and Service 6,353,780 7,71 88,756,461 82,402,681 67,654,833 Fee

Other Services 50,331,630 32,44 205,473,157 155,141,527 70,042,205

Total Non-Aeronautical 248,170,550 7,28 3,655,609,514 3,407,438,964 2,668,491,834 Income

OPERATING EXPENSES Operating expenses increased by Rp 302.09 billion of operations at the new terminal of Semarang or 5.39%, from Rp 5,604 billion in 2018 to Rp 5,906 airport and sections of the Yogyakarta International billion in 2019. This was mainly due to an increase Airport (YIA) terminal. in airport operating expenses following the start

Operating Expenses of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Airport Operating Expenses 128,185,961 4,07 3,280,187,024 3,152,001,063 2,528,911,022

Employee Expenses 36,791,374 2,37 1,590,667,332 1,553,875,958 1,301,466,536

General and Administration 9,917,999 0,97 1,030,352,218 1,020,434,219 1,301,384,420 Expenses

Marketing Expenses (6,694,413) (18,42) 29,640,873 36,335,286 75,155,175

Other (Income) Expenses (133,889,939) (84,55) (24,464,000) (158,353,939) 12,938,287

Total Operating Expenses 302,090,833 5,39 5,906,383,447 5,604,292,614 5,219,855,440

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 223 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

OPERATING PROFIT Operating profit decreased by Rp 191.63 billion or in 2019. The decrease was in line with the decreasing 6.57%, from Rp 2,916 billion in 2018 to Rp 2,725 billion consumer demand due to a rise in airfares.

Operating Profit of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Operating Revenues 110,458,292 1.30 8,631,545,602 8,521,087,310 7,194,347,534

Operating Expenses 302,090,833 5,39 5,906,383,447 5,604,292,614 5,219,855,440

Operating Profit (191.632.541) (6,57) 2,725,162,155 2,916,794,696 1,974,492,094

FINANCIAL INCOME The financial income of PT Angkasa Pura I (Persero) in billion in 2018. This increase was mainly due to a 2019 was recorded at Rp 198.32 billion, and increased significant increase in deposit interest income by Rp by Rp 29.5 billion or 17.46% compared to Rp 168.85 23.9 billion or 17.58%.

Financial Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Deposit Interest 23,908,306 17,58 159,922,623 136,014,317 177,190,874

Giro Service (629,910) (2,87) 21,291,949 21,921,859 68,448,786

Bond and Mutual Fund 6,199,020 56,80 17,111,972 10,912,952 7,504,918 Interest

Total 29,477,416 17,46 198,326,544 168,849,128 253,144,578

FINANCIAL EXPENSES The financial expenses in 2019 was Rp 860.26 interest capitalization on the Ahmad Yani Airport billion, increased by Rp 595.13 billion or 224.47% development project, and the increase in long- compared to Rp 265.13 billion in 2018. This term loan disbursement. increase was mainly due to the cessation of loan

Financial Expenses of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Interest of Bank Loan and 594,438,647 226.39 857,007,177 262,568,530 333,007,634 Bonds

Bank Administrative 697,126 27.17 3,262,757 2,565,631 1,853,975 Expenses

Total 595,135,773 224.47 860,269,934 265,134,161 334,861,609

PT Angkasa Pura I (Persero) 224 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

SHARE IN PROFIT OF ASSOCIATED ENTITIES The share in profit of associated entities in 2019 was Rp 2.55 billion in 2018. This decline was due to a loss Rp (8.95) billion, decreased by Rp 11.5 billion compared suffered by associated entities in 2019.

Share in Profit of Associated Entities of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

PT Gapura Angkasa (8.434.698) (125.00) (1,687,127) 6,747,571 5,480,053

PT Jasa Marga Bali Tol (3.069.445) (73.16) (7,265,010) (4,195,565) (5,251,586)

Total (11.504.143) (450.79) (8,952,137) 2,552,006 228,467

PROFIT BEFORE FINAL TAX AND CORPORATE INCOME TAX Profit before final tax and corporate income tax billion in 2018 to Rp 2,054 billion in 2019. The decrease decreased by Rp 768.8 billion or 27.23%, from Rp 2,823 was in line with the reduction in operating profit.

Profit Before Final Tax And Corporate Income Tax of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Operating Profit (191.632.541) (6.57) 2,725,162,155 2,916,794,696 1,974,492,094

Non-Operating Income (577.162.500) 615.75 (670,895,527) (93,733,027) (81,488,564) (Expenses)

Profit Before Income Tax (768.795.041) (27.23) 2,054,266,628 2,823,061,669 1,893,003,530

CORPORATE INCOME TAX EXPENSE, NET The corporate income tax expense, net in 2019 was Rp Rp 689.02 billion in 2018. This decline was in line with 492.30 billion, and decreased by 28.55% compared to the decreasing profit before income tax.

Corporate Income Tax Expense, Net of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Current Tax (52,507,048) (9.82) 482,279,914 534,786,962 446,980,943

Deferred Tax (144,200,771) (93.50) 10,028,165 154,228,936 (77,836,620)

Corporate Income Tax (196,707,819) (28.55) 492,308,079 689,015,898 369,144,323 Expense, Net

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 225 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

CURRENT YEAR PROFIT Current year profit decreased by Rp 553.7 billion or 2019. This was due to a decrease in corporate profit 27.6%, from Rp 2.00 trillion in 2018 to Rp 1.45 trillion in before income tax.

Current Year Profit of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Profit Before Income Tax (768,795,041) (27.23) 2,054,266,628 2,823,061,669 1,893,003,530

Final Tax Expense (18,396,229) (14.36) 109,731,383 128,127,612 103,506,155

Corporate Income Tax (196,707,819) (28.55) 492,308,079 689,015,898 369,144,323 Expense, Net

Current Year Profit (553,690,966) (27.60) 1,452,227,166 2,005,918,159 1,420,353,052

CURRENT YEAR ATTRIBUTABLE PROFIT Current year profit attributable to owners of attributable to non-controlling interests increased the parent entity decreased by Rp 555.7 billion by Rp 1.97 billion or 178.8%, from Rp 1.10 billion or 27.69%, from Rp 2.00 trillion in 2018 to Rp (loss) in 2018 to Rp 867.18 million (profit) in 2019. 1,451 trillion in 2019. Further, current year profit

Current Year Attributable Profit of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Current year profit (555,658,337) (27.69) 1,451,359,978 2,007,018,315 1,418,577,150 attributable to Owners of Parent Entity

Current year profit 1,967,344 178.82 867,188 (1,100,156) 1,775,902 attributable to Non- Controlling Interest

Total (553,690,993) (27.60) 1,452,227,166 2,005,918,159 1,420,353,052

OTHER COMPREHENSIVE INCOME (LOSS) IN CURRENT YEAR AFTER TAXES Other comprehensive income (loss) in current year after taxes decreased by Rp 407.3 million or 0.57%, from Rp 71.10 billion (loss) in 2018 to Rp 70.6 billion in 2019.

PT Angkasa Pura I (Persero) 226 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Other Comprehensive Income (Loss) of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Items that will be reclassified to profit or loss

Change in Fair Value of 15,063,368 (543.82) 12,293,462 (2,769,906) 18,377,017 Available Financial Assets for Sale

Items that will not be reclassified to profit or loss

Comprehensive Loss of (914,867) (58.98) (2,466,064) (1,551,197) (2,261,085) Associated Entities

Actuarial Profit (loss) for (13,741,196) (20.58) (80,524,121) (66,782,925) 110,823,515 Employee Benefits

Other Comprehensive 407,305 (0.57) (70,696,723) (71,104,028) 126,939,447 Income (Loss) in Current Year After Taxes

CURRENT YEAR ATTRIBUTABLE COMPREHENSIVE INCOME Total current year attributable comprehensive income line with the decline in current year comprehensive decreased by Rp 553.3 billion or 28.6%, from Rp 1,934 income. billion in 2018 to Rp 1,381 billion in 2019. This was in

Current Year Attributable Comprehensive Income of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Owners of Parent Entity (555,240,827) (28.68) 1,380,673,460 1,935,914,287 1,545,516,597

Non-Controlling Interest 1,957,139 (177.90) 856,983 (1,100,156) 1,775,902

Current Year Attributable (553,283,688) (28.60) 1,381,530,443 1,934,814,131 1,547,292,499 Comprehensive Income (Loss)

BASIC EARNINGS PER SHARE Total basic earnings per share decreased by Rp 86,627 2019. The decrease was in line with the decline in or 27.69%, from Rp 312,892 in 2018 to Rp 226,265 in current year earnings.

Basic Earnings Per Share of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Basic earnings per share (86,627) (27.69) 226,265 312,892 221,155

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 227 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

DILUTED EARNINGS PER SHARE Total diluted earnings per share decreased by Rp in 2019. This decline was in line with the decline in 78,197 or 25.75%, from Rp 303,655 in 2018 to Rp 225,458 current year earnings.

Diluted Earnings Per Share of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Diluted Earnings Per Share (78,197) (25.75) 225,458 303,655 212,696

Consolidated Cash Flow Statement The total cash flow of PT Angkasa Pura I (Persero) shows that the company’s finances are in good order grew in a positive vein by Rp 2,362 billion in 2019. This to support business continuity in the future.

Consolidated Cash Flow Statement of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Cash Flow from Operating (1,479,188,732) (48.84%) 1,549,272,091 3,028,460,823.00 1,479,077,570 Activities

Cash Flow from Investment (3,943,521,521) 67.38% (9,795,788,494) (5,852,266,973.00) (1,712,940,714) Activities

Cash Flow from Funding 8,808,740,124 496.81% 10,581,807,080 1,773,066,956.00 (481,794,326) Activities

Net Impact of Changes in (27,267,913) (50.71%) 26,499,115 53,767,028.00 (34,471,560) Exchange Rates on Cash and Cash Equivalents

Decreasing Net Cash and 3,358,761,958 336.90% 2,361,789,792 (996,972,166.00) (750,129,030) Cash Equivalents

Early Year Cash and Cash (996,972,166) (24.05%) 3,149,113,800 4,146,085,966.00 4,896,214,996 Equivalents

Year-End Cash and Cash 2,361,789,792 75.00% 5,510,903,592 3,149,113,800.00 4,146,085,966 Equivalents

CASH FLOW FROM OPERATING ACTIVITIES Net cash obtained from operating activities in 2019 mainly due to an increase in payments to suppliers was Rp 1,549 billion, decreased by 48.8% or Rp1,479 amounting to Rp 852 billion, followed by interest billion compared to Rp 3,028 billion in 2018. This was payments amounting to Rp 611 billion.

PT Angkasa Pura I (Persero) 228 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Cash Flow From Operating Activities of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Receipts from customers 107,911,909 1.29 8,492,447,622 8,384,535,713 7,651,927,102

Cash payments to Suppliers, (852,097,043) (19.60) (5,199,390,450) (4,347,293,407) (4,559,452,804) Contractors, Other Third Parties and Employees

Payment of interest expense (610,784,435) 232.62 (873,352,965) (262,568,530) (334,861,609)

Interest Income 29,477,412 17.46 198,326,544 168,849,132 160,711,289

Tax Payment (153,696,575) 16.80 (1,068,758,660) (915,062,085) (1,439,246,408)

Net Cash Obtained From (1,479,188,732) (48.84) 1,549,272,091 3,028,460,823 1,479,077,570 Operating Activities

CASH FLOW FOR INVESTMENT ACTIVITIES PT Angkasa Pura I (Persero) recorded net cash used compared to Rp 5.85 trillion in 2018. This was in line for investment activities in 2019 amounting to Rp with the addition of investment in the company both 9,795 billion, an increase of 67.38% or Rp 3,943 billion in airport development and financial investment.

Cash Flow For Investment Activities of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Expenditure for Short-Term (116,754,725) (164.44) (187,755,531) (71,000,806) (15,817,801) Investments

Expenditure for Long-Term 1,374,911 (10.29%) (11,986,194) (13,361,105) (105,045,372) Investments

Addition of Fixed Assets (3,828,141,707) (66.37) (9,596,046,769) (5,767,905,062) (1,586,664,397)

Addition of Other Assets - - - - (5,413,144)

Net Cash Used for (3,943,521,521) (67.38) (9,795,788,494) (5,852,266,973) (1,712,940,714) Investment Activities

CASH FLOW FROM FUNDING ACTIVITIES Net cash obtained from funding activities in 2019 disbursement of loans for airport management of Rp amounted to Rp 10.6 trillion, or increased compared 11 trillion. to Rp 1.77 trillion in 2018. This was due to the

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 229 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Cash Flow From Funding Activities of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Long-Term Loan Receipt 9,041,099,482 329.13% 11,788,080,717 2,746,981,235 -

Payment for Long-Term (54,461,146) (7.89%) (744,659,425) (690,198,279) (341,794,326) Loan

Dividend Payment (177,898,212) (62.70%) (461,614,212) (283,716,000) (140,000,000)

Net Cash Obtained (Used) 8,808,740,124 496.81% 10,581,807,080 1,773,066,956 (481,794,326) From Funding Activities

Soundness Level of PT Angkasa Pura I (Persero) PT Angkasa Pura I (Persero)’s level of soundness in in the GMS on Company Work Plan & Budget, 2019 fell into the classification of “AA” or healthy with comprising Customer Satisfaction Index (CSI) a score of 90.50. One main factors for this result was targets, service level at terminals, and facilities achievement of a profitability level that was above the development and investment. The operational target. The realization of the Company’s performance performance score was 33.50 in 2019. was measured or assessed from the 3 (three) aspects 3. Administrative Performance as follows: The company received an administrative 1. Financial Performance performance score of 14.00 in 2019, which The company’s financial performance received a included accuracy of annual calculations report, score of 43 in 2019. budget preparation, periodic reports and PKBL 2. Operational Performance performance. Operational performance was assessed based on the Decree of Director General of Civil Aviation The calculation of soundness level of PT Angkasa Pura No. SKEP/284/X/1999 and several targets decided I (Persero) in 2019 is described in the table as follows.

Level of Soundness of PT Angkasa Pura I (Persero) in 2019

2019 Value 2019 Score No Indicator Weight Unit RKAP Realization RKAP Realization

A. FINANCIAL ASPECT

1 Return on Equity (ROE) of 15 % 39.71 57.77 15.00 15.00 shareholders

2 Return on Investment (ROI) 10 % 11.89 12.37 6.00 7.00

3 Cash Ratio 3 % 92.31 99.93 3.00 3.00

4 Current Ratio 4 % 144.25 132.52 3.00 3.00

5 Collection Period 4 Days 26 22 4.00 4.00

6 Inventory Turnover 4 Days 4 3 4.00 4.00

7 Total Asset Turnover 4 % 29.44 28.46 1.00 1.00

PT Angkasa Pura I (Persero) 230 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Level of Soundness of PT Angkasa Pura I (Persero) in 2019

2019 Value 2019 Score No Indicator Weight Unit CWP&B Realization CWP&B Realization

8 Own Equity Ratio 6 % 38.01 37.35 6.00 6.00

TOTAL 50 42.00 43.00

B. OPERATIONAL ASPECT

1 Customer Satisfaction Index 15 Likert 4.37 4.48 15.00 15.00 (CSI) Scale (1-5)

2 Service Level

a. Security Check in Terminal

i Normal Condition 2.5 % 3.00 0.58 2.50 2.50

ii Special Condition 2.5 % 8.00 2.31 2.50 2.50

b. Public Facility

1) Toilet Cleanliness

DPS, SUB, UPG, BPN 1.5 Stars 4 3 1.50 1.20 Airports

MDC, JOG, SOC, SRG, 1.0 Stars 3 2 1.00 0.80 LOP, KOE, AMQ, BIK, BDJ Airports

2) Room Coolness Level 2,5 % 95.00 98.00 2.50 2.50

3 Facility Development and Investment

a. Achievement Rate of 5 % 100.00 78.30 5.00 4.00 Absorptive Capacit of the Program

b. Physical achievement of 5 % 75.00 77.88 5.00 5.00 investment

JUMLAH 35 35.00 33.50

B. ADMINISTRATIVE ASPECT

1 Annual Calculation 3 Period 15/02/2019 29/03/2019 3.00 3.00 Statement

2 Design of RKAP 2020 3 Period 31/10/2019 30/10/2019 3.00 3.00

3 Periodic Statement 3 Period Maks Tgl 31 Maks Tgl 31 3.00 3.00

4 Performance of PUKK

Effectiveness of fund 3 % 98.36 97.70 3.00 3.00 disbursement

Collectibility level of 3 % 80.00 59.75 3.00 3.00 distribution

Total 15 15.00 14.00

TOTAL A+B+C 100 92.00 90.50

SCORE LEVEL OF SOUNDNESS Healthy (AA)

TARGET LEVEL OF SOUNDNESS Healthy (AA)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 231 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Financial Ratio In general, PT Angkasa Pura I had a good financial of 99% in 2019, far better than liquidity in 2018. ratios throughout 2019 despite some decreases However, the Company needs to be aware of in financial ratios. The company can mantain rising debt ratios, both to assets and to equity, the ratio of profit to assets in the range of 68%, which was mainly caused by the use of third which was slightly better than the previous year. party funds for investment conducted by the Further, liquidity was good with a current ratio company in the reporting period.

Financial Ratio of PT Angkasa Pura I (Persero) in the Last Three Years

Description Growth in 2019 2019 2018 2017

RENTABILITY

Operating Profit Ratio (3.02%) 31.57% 34.23% 27.45%

Profit to Assets (2.95%) 3.39% 6.35% 5.74%

Operating Ratio 1.45% 68.71% 67.63% 71.94%

LIQUIDITY

Current Ratio 65.34% 132.52% 67.18% 106.68%

Cash Ratio 52.30% 99.93% 47.63% 138.17%

SOLVENCY

Debt to Assets Ratio 10.27% 62.65% 52.38% 47.11%

Debt to Equity Ratio 57.75% 167.74% 109.99% 86.93%

Debt to Fixed Assets Ratio 15.20% 78.55% 63.34% 62.54%

PT Angkasa Pura I (Persero) 232 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Ability to Pay Debt and Collectability of Receivables

Ability to Pay Short-Term Debt Based on the measurement result, the The current ratio for 2019 increased by 97.26% Company’s ability in paying short-term debt is compared to 2018. Meanwhile, the cash ratio in very good, meaning that the Company can pay 2019 increased by 109.80% compared to 2018. its current liabilities. The development of the The increase in liquidity ratio was due to the Company’s liquidity condition during 2018 until disbursement of loans from banks. 2019 has increased both current ratio and cash ratio.

Liquidity of PT Angkasa Pura I (Persero) in the Last Three Years

Description Growth in 2019 2019 2018 2017

Cash Ratio 52.30 99.93 47.63 106,68

Current Ratio 65.34 132.52 67,18 138.17

Ability to Pay Long-Term Debt Based on the measurement of the solvency ratio, assets owned, both in terms of fixed assets and the the Company’s ability to pay all its debts in 2019 entire assets of the Company. Furthermore, the was maintained within safe limits. The debt to debt to equity ratio increased by 52.50% in 2019, assets ratio in 2019 increased by 19.61%, while the which was due to the disbursement of loans from debt to fixed assets ratio grew by 24% for the year. banks. Although the ratios have gone up, overall the Company was able to fulfill its obligations with the

Solvency of PT Angkasa Pura I (Persero) in the Last Three Years

Description Growth in 2019 2019 2018 2017

Debt to Assets Ratio 10.27 62.65 52.38 47.11

Debt to Equity Ratio 57.75 167.74 109.99 86.93

Debt to Fixed Assets Ratio 15.20 78.54 63.34 62.54

ABILITY TO PAY DEBT FROM ISSUED SECURITIES The Bond I Angkasa Pura I is currently rated ratings indicate the possibility of timely payment “AAA” while Sukuk Ijarah is rated “AAAsy” by PT of the principal amount and interest/ installments Pemeringkat Efek Indonesia (PEFINDO). These of the benefit.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 233 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Ratings of Securities Issued by PT Angkasa Pura I (Persero) in the Last Three Years

Rating Description 2019 2018 2017

Bond I Angkasa Pura AAA by Pefindo AAA by Pefindo AAA by Pefindo

Sukuk Ijarah AAAsy by Pefindo AAAsy by Pefindo AAAsy by Pefindo

COLLECTABILITY OF PAYABLE The measurement result of the Company’s 2019 was 20 days, 1 day faster than the collectibility collectibility rate indicated an increase compared of 2018 which was 21 days. to the previous year. The collectibility of payable in

Collectability of Payable of PT Angkasa Pura I (Persero) in the Last Three Years

Description Growth in 2019 2019 2018 2017

Collectability of Payable 5 20 days 21 days 26 days

Capital Structure

Management Policy and Basis of Details of Capital Structure Management Policy Selection on Capital The capital structure in 2019 owned by the Structure Company was 62.65% derived from liabilities and The management policy on capital structure of 37.35% in the form of equity. This composition PT Angkasa Pura I (Persero) has been strongly changed compared with 2018 which had relatively influenced by the airport development strategy balanced equity and liability percentages of 47.62% that is currently being implemented on a massive and 52.38% respectively. The increase in liabilities scale. Total liabilities of the Company is greater was due to the disbursement of loans by banks. than total equity, with total liabilities amounting to Rp 20.62 trillion, while total equity amounts to Rp 15.98 trillion. This capital structure where liabilities are greater than equity is closely linked to the policy of investing in the development of new airports in Yogyakarta, Semarang, Makassar and Banjarmasin.

Capital Structure of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Total Capital Percentage of Total Capital Description 2019 2018 2017 2019 2018 2017

Current Liabilities 6,180,788,551 7,614,989,550 3,948,861,194 8.88% 24.09% 15.97%

Non-Current Liabilities 20,625,254,701 8,941,701,402 7,382,318,542 29.64% 28.29% 29.85%

Total Liabilities 26,806,043,252 16,556,690,952 11,331,179,736 38.52% 52.38% 45.81%

Equity 15,980,507,847 15,052,224,669 13,401,461,042 22.96% 47.62% 54.19%

Total Liabilities and Equity 42,786,551,099 31,608,915,621 24,732,640,778 100.00% 100.00% 100.00%

PT Angkasa Pura I (Persero) 234 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Material Commitment Related to Investment of Capital Goods

Name of Parties to Commitment As of December 31, 2019, PT Angkasa Pura I facilities at airports. The following table presents (Persero) was committed to investing in capital data on the company’s commitment for procuring goods, with the main objective of developing capital goods. and improving the quality of infrastructure and

Head Office Capital Goods Investment Commitments of PT Angkasa Pura I (Persero) in 2019

Type of Commitment Vendor/ Executor of Program

SERVICE

Replacement of 4 Garbarata Units at the Domestic Terminal PT Bukaka Teknik Utama

Addition of BHS Pathway at the Check In Promenade PT Jalin Mitra Dyanda

Procurement and Installation of Video Wall FIDS PT INALIX

PBX Integration Within Angkasa Pura I (Persero) PT DATASCRIP

Procurement of Business Intelligence PT CYBERTREND INTRABUANA

Procurement of Waiting Chairs for Terminal 1 Juanda Airport Surabaya CV Putra Wijaya

Procurement and Installation of LED Lights to Increase Lighting in PT Angkasa Pura Suport Terminal Buildings

Canopy Expansion at Cargo Terminal PT Cipta Agora Lestari

Procurement and Installation of Floor Standing AC and Air Curtain in PT Nusa Teknik Cemerlang Terminal Building of Sultan Hasanuddin Airport in Makassar

Procurement and Installation of Chillers PT Rasindo Tata Laksana

Procurement And Installation Of 6 Kv 500 KVA Transformers In Pumping PT Deqha Elcomindo Substations

Procurement of Interactive Information Media Devices PT Dirgantara Engineering

Procurement of 4 (four) Conveyor Scales PT Hexa Engineering Indonesia

Value of Material Commitments in Capital Goods Investment The realization of the Company’s commitment to mitigate against foreign currency risks. Sources towards capital goods investment in 2019 was of funds used to fulfill the material commitments 285 programs or 78.30%, with a contract value of are derived from internal and external funding Rp 12.3 trillion and physical absorption of 77.88%. consisting of the issuance of bonds and or sukuk All transactions were denominated in Rupiah, ijarah and loans of financial and or non-financial therefore no measures were taken by the company institutions.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 235 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Head Office Capital Goods Investment Commitments of PT Angkasa Pura I (Persero) in 2019 (Rp)

Contract Value of Type and Objective of Investment Physical Realization Physical Absorption Current Period

Operational 2,116,112,908,262 1,385,987,066,217 65.50%

Development 10,185,513,329,819 8,194,764,597,522 80.46%

Total Investment 12,301,626,238,081 9,580,751,663,739 77.88%

Realization of Investment of Capital Goods

Type and Value of Investment of Capital compared to Rp 8.50 trillion in 2018. Data on the Goods value of capital goods investment is described in Realization of capital goods investment in the form the following table: of fixed assets in 2019 was Rp 9.15 trillion, increased

Capital Goods Investment Realization of PT Angkasa Pura I (Persero) in 2017 – 2019 (in thousand Rupiah)

Type of Fixed Assets Investment Objective 2019 2018 2017

Land Airport Development 1,254,174 5,026,156,603 4,221,802

Structures (Fields) Airport Development 1,191,554,817 1,501,065,071 315,432,827

Buildings Airport Development 837,729,463 1,024,009,577 137,073,504

Vehicle Airport Development 74,790,042 37,809,499 89,053,306

Installation Airport Development 181,940,444 176,960,843 50,000,356

Equipment Airport Development 912,182,820 731,082,952 423,782,276

Assets Under Construction Airport Development 5,985,239,136 - 2,513,265,120

Total 9,148,690,896 8,497,084,545 3,532,829,191

Material Information on Investment, Expansion, Divestment, Acquisition, Or Debt and Capital Restructuring

PT Angkasa Pura I (Persero) conducted Investment investment and expansion activities throughout The Company made short-term and long-term 2019, but did not carry out divestment, merger & investments in various financial instruments, such acquisition, debt/capital restructuring and Affiliate as term deposit, mutual fund, bond and equity transactions. participation.

The following table shows data on investments made by PT Angkasa Pura I (Persero).

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Investments of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Description 2019 2018 2017

Short-Term Investment

Term Deposit > 3 Months 264,839,700 - 10,200,000

Bonds – available for sale 22,790,392 19,156,044 19,178,167

Mutual Fund 378,232,220 458,950,737 377,777,808

Total Short-Term Investment 665,862,312 478,106,781 407,155,975

Long-Term Investment

Bonds 25,347,300 13,361,105 45,682,461

Capital Participation in Associated Entities 84,471,885 87,301,207 86,300,400

Joint Operation - - 341,938

Total Long-Term Investment 109,819,185 100,662,312 86,642,338

Expansion In 2019, PT Angkasa Pura I (Persero) continued its 2. In accordance with the Decree of the Board policy and expansion activity in the previous year of Directors No. KEP.107/OM.01.01/2014 dated which included the development programs of August 26, 2014, the organization and Working three airports, namely Syamsudin Noor Airport Procedure of Development Project of Ahmad – Banjarmasin, Ahmad Yani Airport – Semarang, Yani Airport – Semarang has been established. and Yogyakarta New Airport. In the framework 3. In accordance with the Decree of the Board of developing the aforementioned airports, the of Directors No. KEP.182/OM.01.01/2014 dated Board of Directors issued a decree to establish December 30, 2014 concerning amendment organization and working procedures, as follows: to the Decree of the Board of Directors No. 1. In accordance with the Decree of the Board KEP.108/OM.01.01/2014 dated August 26, 2014, of Directors No. KEP.176/OM.01.01/2014 dated the organization and Working Procedures December 15, 2014, the organization and of Development Project of Yogyakarta Working Procedures of Development Project International Airport have been established. of Syamsudin Noor Airport - Banjarmasin have been established.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 237 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Achievement of Targets and Future Targets

Target Achievement in 2019

PT Angkasa Pura I (Persero) through all directorates 2019. Details of the performance of PT Angkasa and non-directorates has realized part of the work Pura I (Persero) in 2019 can be seen from the programs that have been planned in the RKAP achievement of the targets set as follows:

Performance Target Achievement of Aeronautical Services in 2019

Realization Description Realization Unit RKAP 2019 Achievement 2019

1 2 3 4 5=3/4

Aircraft Landing, Parking and Hangar Services Ton 25,016,634 31,839,658 78.57% (PJP4U)

Domestic PJP4U Ton 18,204,152 24,940,251 72.99%

International PJP4U Ton 6,812,482 6,899,407 98.74%

Extended Fee Service Day 6,680 7,861 84.98%

Domestic Extended Fee Service Day 6,247 6,759 92.43%

International Extended Fee Service Day 433 1,102 39.29%

Passenger Service Charge (PJP2U) Hr 35,755,591 49,936,301 71.60%

Domestic PJP2U Hr 26,938,294 40,770,491 66.07%

International PJP2U Hr 8,817,297 9,165,810 96.20%

Aviobridge Ton 28,302,004 35,778,657 79.10%

Domestic Avio Bridge Ton 17,488,015 24,846,097 70.39%

International Avio Bridge Ton 10,813,989 10,932,560 98.92%

Counter Pax 35,640,003 49,842,910 71.50%

Domestic Counter Pax 26,933,352 40,775,927 66.05%

International Counter Pax 8,706,651 9,066,983 96.03%

BHS/HBS Pax 528 -

Domestic BHS/HBS Pax - -

International BHS/HBS Pax 528 -

Aircraft Cargo and Postal Services (PJKP2U) Kg 327,143,126 479,890,611 68.17%

Out Domestic PJKP2U Kg 103,919,716 182,140,379 57.05%

Out Internasional PJKP2U Kg 52,948,163 56,844,654 93.15%

Inc Domestic PJKP2U Kg 137,428,748 210,759,041 65.21%

Inc Internasional PJKP2U Kg 32,846,499 30,146,536 108.96%

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Performance Target Achievements of Non-Aeronautical Services in 2019

Realization Description Unit RKAP 2019 Achievement 2019

1 2 3 4 5=3/4

Rents m2xmonth 9,488,436 13,184,118 71.97%

Space Rent m2xmonth 1,209,458 2,210,713 54.71%

Land Rent m2xmonth 6,701,936 9,390,884 71.37%

Place Rent m2xmonth 3,077 11,659 26.39%

Antenna Space Rent m2xmonth 19,694 20,270 97.16%

Cold Storage Rent m2xmonth 3,624 -

Building Rent m2xmonth - - -

Submission of Land Use m2xmonth 1,550,646 1,550,592 100.00%

Submission of Building Use m2xmonth - -

Concession 26,023,806,416 26,533,268,692 98.08%

Concession – Duty Free Rp/000 1,826,896,224 2,361,628,973 77.36%

Concession – Food dan Beverages Rp/000 1,277,306,807 1,538,202,291 83.04%

Concession – Retail Rp/000 1,278,218,151 1,509,888,608 84.66%

Concession – Services Rp/000 2,615,652,329 1,721,079,239 151.98%

Concession – Ground Handling Rp/000 804,623,267 836,750,293 96.16%

Concession – Catering Rp/000 506,914,461 533,818,037 94.96%

Concession – FTC Ltr 15,955,737,172 16,527,262,086 96.54%

Concession – CIP Lounge Rp/000 290,204,908 353,643,880 82.06%

Concession – Cargo Rp/000 176,097,848 247,740,242 71.08%

Concession – Others Rp/000 124,530,657 9,550,544 1303.91%

Concession – GAT Rp/000 20,676,721 13,464,280 153.57%

Concession – Line Maintenance Rp/000 670,176,732 679,110,677 98.68%

Concession – Advertising Rp/000 476,771,137 201,129,543 237.05%

38,770,772 51,102,910 75.87%

Car Parking Lbr 28,264,917 38,496,987 73.42%

Motorcycle Parking Lbr 10,455,258 12,470,631 83.84%

Platform and Waving Gallery Lbr - -

Airport Pass Lbr 50,597 135,291 37.40%

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 239 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Performance Target Achievements of Non-Aeronautical Services in 2019

Realization Description Unit RKAP 2019 Achievement 2019

1 2 3 4 5=3/4

Utilities 44,453,629 42,157,307 105.45%

Electricity Usage Kwh 43,807,615 41,542,959 105.45%

Water Usage m3 626,363 593,666 105.51%

Telephone Usage PwtxMonth 18,423 19,662 93.70%

Data Service EA 1,228 1,020 120.39%

Billboard 76,674 54,808 139.89%

Indoor Billboard Space Rental M2xMonth 59,388 29,157 203.68%

Outdoor Billboard Space Rental M2xMonth 17,286 25,651 67.39%

Event dan Promotion 9,971 1,610 619.29%

Event dan Promotion EA 9,971 1,610 619.29%

Lounge 197,788 345,084 57.32%

Domestic CIP Lounge Pax 197,788 345,084 57.32%

International CIP Lounge Pax - - -

Domestic Executive Lounge Pax - - -

International Executive Lounge Pax - - -

Cargo Warehouse Service 91,179,716 132,361,426 68.89%

Out-Domestic Cargo Warehouse Service Kg 14,964,611 9,669,174 154.77%

Out-International Cargo Warehouse Service Kg 18,831,844 29,132,477 64.64%

Inc-Domestic Cargo Warehouse Service Kg 22,089,108 17,195,362 128.46%

Inc-International Cargo Warehouse Service Kg 35,294,152 76,364,413 46.22%

Maintenance dan Services Fee 5,474 675 810.96%

Maintenance dan Services Fee EA 5,474 675 810.96%

Financial Performance Target Achievement of PT Angkasa Pura I in 2019 (in thousand Rupiah)

Description Realization 2019 RKAP 2019 Achievement

Asset 42,808,050,310 44,263,727,962 96.71%

Current Asset 8,223,547,402 4,804,994,138 171.15%

Non-Current Asset 34,584,502,908 39,458,733,824 87.65%

Liabilities 26,827,542,463 27,437,353,468 97.78%

Current Liabilities 6,201,838,709 3,330,903,507 186.19%

Non-Current Liabilities 20,625,703,754 24,106,449,961 85.56%

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Financial Performance Target Achievement of PT Angkasa Pura I in 2019 (in thousand Rupiah)

Description Realization 2019 RKAP 2019 Achievement

Equity 15,980,507,847 16,826,374,491 94.97%

Operating Income 8,629,003 9,997,621 86.31%

Operating Expenses 5,962,330 6,885,900 86.59%

Operating Profit 2,666,673 3,111,721 85.70%

Non-Operating Income 307,898 162,797 189.13%

Non-Operating Expenses 942,835 635,956 148.25%

Non-Operating Profit (634,937) (473,159) 134.19%

Profit Before Tax 2,031,736 2,638,562 77.00%

Current and Deferred Tax Expense (580,376) (627,360) 92.51%

Current Year Net Profit 1,451,360 2,011,202 72.16%

Projection 2020 In accordance with the Letter of the Minister macro conditions was the company’s foundation of State-Owned Enterprises Number: S-574/ in establishing microeconomic assumptions in the MBU/08/2019 dated August 30, 2019 concerning context of the Company’s business activities, such Aspiration of Shareholders/Capital Owners for the as PJP4U, PHJP2U and other economic factors. Preparation of Company Work Plan and Budget 2020, PT Angkasa Pura I (Persero) has prepared a Regarding the dividend policy projection, PT projection of the Company’s performance in 2020 Angkasa Pura I (Persero) follows the policy of with reference to the basic assumptions in the the Ministry of SOEs as the main and controlling Preparation of State Budget. Further, analysis of shareholder.

Macroeconomic Assumptions for Preparation of State Budget (APBN) 2020

Economic Growth 5.3%

Inflation Rate 3.1%

Currency Exchange Rate Rp14,400/USD

Interest Rate of Treasury Bills (SPN) 5.4%

Microeconomic Assumptions

Increased Traffic Aircraft, Passengers and Cargo

Increase in Rate PJP4U, PJP2U and Counter

Improvement of Production Equipment Aviobridge, BHS/HBS

Changes in the Pattern of Cooperation Billboard Rental and CIP Lounge Management

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 241 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Projected Performance of Aeronautical Services 2020 of PT Angkasa Pura I (Persero)

Description Unit Projection for 2020

1 2 3

Aircraft Landing, Parking and Hangar Services (PJP4U) Ton 29,492,410

Domestic PJP4U Ton 22,036,455

International PJP4U Ton 7,455,955

Extendeed and Advance Pax 6,546

Domestic Extended Fee Service Pax 5,883

International Extended Fee Service Pax 663

Passenger Service Charge (PJP2U) Hr 42,978,920

Domestic PJP2U Hr 33,320,374

International PJP2U Hr 9,658,546

Aviobridge Ton 33,900,693

Domestic Avio Bridge Ton 21,971,443

International Avio Bridge Ton 11,929,250

Counter Pax 42,712,588

Domestic Counter Pax 33,159,860

International Counter Pax 9,552,728

BHS/HBS Pax -

Domestic BHS/HBS Pax -

International BHS/HBS Pax -

Aircraft Cargo and Postal Services (PJKP2U) Kg 476,426,873

Out Domestic PJKP2U Kg 205,331,772

Out Internasional PJKP2U Kg 55,887,400

Inc Domestic PJKP2U Kg 177,959,766

Inc Internasional PJKP2U Kg 37,247,935

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Projected Performance of Non-Aeronautical Services 2020 of PT Angkasa Pura I (Persero)

Description Unit Projection 2020

1 2 3

Rents m2xmonth 11,512,048

Space Rent m2xmonth 1,589,651

Land Rent m2xmonth 8,341,701

Place Rent m2xmonth 8,628

Antenna Space Rent m2xmonth 21,477

Cold Storage Rent m2xmonth -

Building Rent m2xmonth -

Submission of Land Use m2xmonth 1,550,592

Submission of Building Use m2xmonth -

Concession 27,533,014,015

Concession – Duty Free Rp/000 1,906,988,455

Concession – Food dan Beverages Rp/000 1,609,865,445

Concession – Retail Rp/000 1,491,488,330

Concession – Services Rp/000 2,766,225,633

Concession – Ground Handling Rp/000 821,583,960

Concession – Catering Rp/000 530,944,687

Concession – FTC Ltr 16,923,814,365

Concession – CIP Lounge Rp/000 325,060,323

Concession – Cargo Rp/000 301,129,488

Concession – Others Rp/000 29,196,365

Concession – GAT Rp/000 16,191,079

Concession – Line Maintenance Rp/000 681,118,465

Concession – Advertising Rp/000 129,407,421

47,682,482

Car Parking Ticket 35,372,808

Motorcycle Parking Ticket 12,265,572

Platform and Waving Gallery Ticket 902

Airport Pass Ticket 43,200

42,859,013

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 243 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Projected Performance of Non-Aeronautical Services 2020 of PT Angkasa Pura I (Persero)

Description Unit Projection 2020

1 2 3

Electricity Usage Kwh 42,259,856

Water Usage m3 581,324

Phone Usage Pwtxmonth 16,117

Data Services EA 1,716

Advertising 74,183

Indoor Billboard Space Rent M2xmonth 37,217

Outdoor Billboard Space Rent M2xmonth 36,966

Event dan Promotion 1180

Event dan Promotion EA 1180

Lounge -

Domestic CIP Lounge Pax -

International CIP Lounge Pax -

Domestic Executive Lounge Pax -

International Executive Lounge Pax -

Warehousing 59,745,481

Out-Domestic Cargo Warehouse Service Kg 12,958,733

Out-International Cargo Warehouse Service Kg 2,518,186

Inc-Domestic Cargo Warehouse Service Kg 15,916,949

Inc-International Cargo Warehouse Service Kg 28,351,613

Maintenance dan Services Fee 730

Maintenance dan Services Fee EA 730

Projected Financial Performance of PT Angkasa Pura I (Persero) in 2020

Description Projection 2020

Asset 46,456,792,223

Current Asset 5,404,722,599

Non-Current Asset 41,052,069,624

Liabilities 30,618,759,030

Current Liabilities 5,196,201,230

Non-Current Liabilities 25,422,557,801

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Projected Financial Performance of PT Angkasa Pura I (Persero) in 2020

Description Projection 2020

Equity 15,838,033,193

Operating Income 11,329,354,597

Operating Expenses 7,886,967,855

Operating Profit 3,442,386,742

Non-Operating Income 162,143,115

Non-Operating Expenses 1,615,940,818

Non-Operating Profit (1,453,797,703)

Profit Before Estimated Income Tax 1,988,589,039

Income Tax 582,126,990

Current Year Net Profit 1,406,462,049

Material Information and Facts After Date of Accounting Statements

In the period after the accounting statements report date or February 28, 2020, information and material facts that occur are as follows:

Impact on No Description Business Impact on Business Risk Performance

1 On March 13, 2020, the change of the Directors of PT Angkasa The changes to Changes in the Board of Pura I (Persero) was determined based on the Decree of the Directors and Directors aim to face the the Minister of State-Owned Enterprises (BUMN) No. SK-74 nomenclature business risk of PT Angkasa / MBU / 03/2020 Regarding Dismissal, Changes to Position aim to support Pura I (Persero) in meeting Nomenclature, and Appointment of Members of the Board the operational, the 2020 investment of Directors of the Company (Persero) PT Angkasa Pura I. legal, financial target under applicable condition, regulations. For this reason, The Directors inaugurated concerning the dismissal based and business the nomenclature of the on the Minister of SOE Decree referred to are as follows: continuity of PT new Directors’ positions, • Sardjono Jhony Tjitrokusumo as Director of Business Angkasa Pura I namely the Director of Development (Persero). Compliance, Assets, and • Novrihandri as Finance Director Procurement, to ensure that operational, financial, and This SOE Ministerial Decree has also appointed the following legal activities are carried new Directors: out following applicable laws • Dendi Tegar Danianto as Director of Business and regulations. Development • Andy Saleh Bratamihardja as Finance Director • Israwadi as Director of Compliance, Assets, and Procurement

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 245 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Dampak Dampak Terhadap Resiko No Deskripsi Terhadap Kinerja Usaha

2 On March 20, 2020, the amendment to the Board of The amendments Changes in the members of Commissioners and the establishment of the Independent to the members the Board of Commissioners Commissioner of PT Angkasa Pura I (Persero) were of the Board of and the appointment determined based on the Minister of SOE Decree No. SK-85 Commissioners of Independent / MBU / 03/2020 concerning Dismissal and Appointment and the Commissioners have a of Members of the Board of Commissioners, as well as Independent positive impact on business the Determination of the Independent Commissioner of Commissioners’ risk. the Company (Persero) of PT Angkasa Pura I. Members determination of the Board of Commissioners who are confirmed with are aimed at respectable dismissal based on the Ministerial Decree are as supporting the follows; operational • Harry Z. Soeratin as Commissioner performance, • Suprasetyo as Commissioner legal, financial • Ali Mochtar Ngabalin as Commissioner condition, and business The SOE Ministerial Decree also stipulates the appointment continuity of PT of members of the Board of Commissioners as follows: Angkasa Pura I • Wempi Saputra as a Commissioner (Persero). • Danang Parikesit as Commissioner • Wihana Kirana Jaya as Commissioner • Erwan Agus Purwanto as Commissioner • Irfan Wahid as Independent Commissioner

The SOE Ministerial Decree also stipulates Tri Budi Satriyo as Independent Commissioner.

3 On April 8, 2020, PT Angkasa Pura I Decree No. KEP.02 / The changes Changes in the Audit DK.AP / I / 2020 was signed on the Dismissal, Task Transfer, to the Audit Committee have a positive and Appointment of the Chair and Deputy Chairperson of Committee impact on business risk. the Audit Committee of PT Angkasa Pura I ( Persero). are aimed at supporting the The decision of the Board of Commissioners stipulated the operational, dismissal with respect Harry Z. Soeratin as Chairman of the legal, financial Audit Committee and transferred the duties of Mr. Djoko condition Sasono became Deputy Chairman I of the audit committee. and business continuity of PT The Board of Commissioners’ decision also stipulates the Angkasa Pura I appointment of the Audit Committee members as follows: (Persero). • Erwan Agus Purwanti as Chairman of the Audit Committee • Wempi Saputra as Vice Chair II of the Audit Committee

PT Angkasa Pura I (Persero) 246 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Policies, Announcement and Payment of Dividens

Dividend Policy Announcement and Payment of Dividend PT Angkasa Pura I (Persero) routinely pays For Financial Year 2018, PT Angkasa Pura I (Persero) dividends annually based on the resolution of the paid out dividends amounting to Rp 461,614 million General Meeting of Shareholders (GMS). Payment with Dividend Payout Ratio of 23%. The dividends of dividends shall be done no later than 1 (one) were paid out in full during the months of June, month after the General Meeting of Shareholders July, August and September 2019. Therefore, there in the Management Accountability Meeting in the are no pending dividend payment. current year. The policy of dividend distribution applied by the Company is to consider profitability The dividends paid out in 2018 were far greater and business expansion. Profit is set aside for the than in the financial year 2017. In 2018, the dividend Company’s operational and business development payout for the financial year of 2017 were set at Rp needs. 283,716 million with a Dividend Payout Ratio of 20%. All dividend payout obligations were fulfilled The reduction in profits allocated for the by PT Angkasa Pura I (Persero). Company’s dividends and reserves in 2019 derived from the performance of the Company in 2018 was determined based on the results of the Annual General Meeting of Shareholders stated in the Minutes of the General Meeting of Shareholders (GMS) of PT Angkasa Pura I (Persero) No. AP.I.3972/ KU.01.03/2019/DU-B dated May 20, 2019.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 247 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Dividend Announcement and Payment of PT Angkasa Pura I (Persero) for Financial Year 2016-2018

Distribution Operating Dividend Financial of Dividends Profit (in Per Share Dividen Payout Basis for Announcement Payout Date Year (in million million (in thousand Ratio Distribution Date Rupiah) Rupiah) Rupiah)

2018 461,614 2,007,018 71.97 23% Minutes of GMS 20 May 2019 20 June 2019 No. AP.I.3972/ 19 July 2019 KU.01.03/2019/ 20 Aug 2019 DU-B 20 Sep 2019

2017 283,716 1,418,577 44.23 20% Minutes of GMS 24 April 2018 22 May 2018 No. AP.I.2559/ 21 June 2018 KU.01.03/2018/ 24 July 2018 DU-B 23 Aug 2018 24 Sep 2018

2016 140,000 1,158,800 21.83 12.08% Minutes of GMS 9 May 2017 7 June 2017 No. AP.I.2406/ KU/03/2017/DU-B

ה׎׏א June ג׏ ה׎׏א May וMinutes of GMS ׏ ۑ׎א גא.הא אגד,׏גז ח׎ב,זה׏ ד׎׏א ׏9ژNo ה׎׏אژuayژו׏

ד׎׏א June ג ד׎׏א May אMinutes of GMS ׏ ۑ׎א וג.בה ׎׏ה,זאח ׎או,דז׏ ג׎׏א /ז0הNo: AP.I.2 ד׎׏א eɓǹy ו ג׎׏אٖגU/03ِ׎¾

Stock Ownership Program

Currently, PT Angkasa Pura I (Persero) does not data and information on stock options, number have an employee and/or management stock of shares, duration of implementation, exercise ownership program (Employee Stock Ownership price, and requirements of the ESOP and MSOP Plan/ESOP and Management Stock Ownership program. Plan/MSOP). Therefore, this report presents no

Realization of the Use of Proceeds From Public Offering

In accordance with the Financial Services was used in accordance with the plan, namely Authority Regulation No. 30/POJK.04/2015 for the development of five airports and routine concerning Report on the Realization of the Use airport investments. of Proceeds from Public Offering (LRPD), the Company submits the LRPD report periodically The following table summarizes the realization every six months per June 30 and December 31. of the use of proceeds from public offering of PT In general, the realization of the use of proceeds Angkasa Pura I (Persero). from Public Offering of Bonds and Sukuk Ijarah

Summary of Realization of the Use of Proceeds From Public Offering of PT Angkasa Pura I in the Last Three Years

Description Date, Month and Year Total (Rp)

Public Offering (Bonds and Sukuk Ijarah) 10 November 2016 Total public offering proceeds 3,000,000,000,000 Public offer fee 8,789,785,708 Net Proceeds 2,991,210,214,292

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Summary of Realization of the Use of Proceeds From Public Offering of PT Angkasa Pura I in the Last Three Years

Description Date, Month and Year Total (Rp)

Planned Use of Proceeds Funding for 5 (five) Airport Development Projects 2,243,407,660,719 Funding for Regular Investments 747,802,553,573 Total Planned Use of Proceeds 2,991,210,214,292

Actual Use of Proceeds Funding for five Airport Development Projects 2016 474,000,000,000 2017 1,348,621,902,001 2018 626,515,340,865 2019 31,319,020,243 Total Funding for 5 (five) Airport Development Projects 2,480,456,263,109 Funding for Regular Investment 2016 0 2017 510,542,716,153 2018 211,235,030 2019 0 Total Funding for Regular Investment 510,753,951,183 Total Actual Use of Proceeds 2,991,210,214,292

Remaining Balance of Proceeds from Public Offering Per 31 December 2019 0

Material Information Containing Conflict of Interest and/or Transaction with Affiliated Parties

Transaction of Conflict of Interest and/ or Affiliate Transaction As a state-owned enterprise, PT Angkasa Pura I conflicts of interest, such as government-owned (Persero) is aware of related parties that transact with financial service institutions, state-owned enterprises the Company, either based on ownership and/or (SOEs) or other Government institutions. The parties management. In the context of implementing good identified as related to PT Angkasa Pura I (Persero) governance, the Company consistently identifies if can be seen in the following table. there are transactions that are related and contain

Parties Related to PT Angkasa Pura I (Persero) Based on Ownership and/or Management Relationship

No Related Parties Nature of Relationship

1. Shareholder Government of the Republic of Indonesia

2. Entities Related to Government PT Bank Mandiri (Persero) Tbk.

PT Bank Rakyat Indonesia (Persero) Tbk.

PT Bank Negara Indonesia 1946 (Persero) Tbk.

PT Bank Tabungan Negara

PT Bank Syariah Mandiri

PT Bank BRI Syariah

PT Bank BNI Syariah

PT Garuda Indonesia (Persero), Tbk.

PT Pertamina (Persero)

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 249 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Parties Related to PT Angkasa Pura I (Persero) Based on Ownership and/or Management Relationship

No Related Parties Nature of Relationship

2. Entities Related to Government PT Perusahaan Listrik Negara (Persero)

PT Telekomunikasi Indonesia (Persero) Tbk

PT Asuransi Jasa Indonesia (Persero)

Perusahaan Umum (Perum) Lembaga Penyelenggara Pelayanan Navigasi

Penerbangan Indonesia (LPPNPI)

PT Sarana Multi Infrastruktur (Persero)

Indonesia Infrastructure Finance

Other State-Owned Enterprises (BUMN)

Other Regional-Owned Enterprises (BUMD)

3. Subsidiaries PT Angkasa Pura Support

PT Angkasa Pura Hotel

PT Angkasa Pura Logistik

PT Angkasa Pura Property

PT Angkasa Pura Retail

4. Associated Entities PT Jasa Marga Bali (investment in shares)

PT Gapura Angkasa (investment in shares)

5. Post-Employment Benefit Entities Angkasa Pura Pension Fund

6. Personnel, Key Management Board of Directors

Board of Commissioners

During 2019, there were no transactions with affiliated parties that involved conflicts of interest. The details of accounts and transactions with related parties are as follows:

Transaction with Related Party of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Description 2019 2018 2017

Asset

Cast and cash equivalent 2,439,450,313 1,843,411,485 2,209,464,284

Investment in short-term securities 157,630,092 62,030,398 60,711,992

Trade receivables 138,453,120 90,334,042 92,919,624

Other receivables - - -

Non-current receivables - - -

Long-term investment 99,749,084 100,662,312 86,300,400

Short-Term Investment 20,625,703,754 24,106,449,961 85.56%

PT Angkasa Pura I (Persero) 250 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Transaction with Related Party of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Uraian/Description 2019 2018 2017

Total 2,835,282,609 2,096,438,237 2,449,396,300

Percentage of total assets 6.63% 9.90%

Liabilities

Trade payables 59,820,083 101,718,709 10,812,049

Bank Loans and Syndicated Loans 14,918,352,118 5,537,983,907 3,814,506,307

Other current debt 99,967,076 1,371,998,743 366,422,705

Equity

State Capital Participation 6,414,412,000 22,963,207 255,096,706

Total 21,492,551,277 13,426,113,359 10,606,153,061

Percentage of total liabilities and equity 50.23% 42.48% 17.98%

Contingent Liabilities In 2018, the Company received the Supreme As of December 31, 2019, there were no important Court Verdict No. 1461 K/Pdt/2017 dated cases being faced by the Company, the Board September 27, 2017 where the Company of Commissioners, the Board of Directors, or was ordered to pay a penalty of Rp 2,491,890. subsidiaries. However, several important cases For this reason, as of December 31, 2018, the from previous years that required following up are Company posted revenues of Rp 885,334,939 as follows: in the other income account. a) PT Bank Negara Indonesia Syariah (BNI Syariah) b) PT Sepinggan Sarana Utama (SSU) The Company had to face a civil lawsuit from PT Sepinggan Sarana Utama (SSU) submitted BNI Syariah with a claim value of Rp 85,334,939 a request for arbitration to the Indonesian related to payments to PT Slipi Raya Utama National Arbitration Board (BANI) where the that did not go through BNI Syariah account in SSU stated that the Company had broken its connection with the construction of passenger commitment on a cooperation agreement terminal and supporting facilities at Lombok for the construction and operation of transit International Airport. hotel at Sepinggan Airport in Balikpapan. On July 5, 2018, the Company received the Based on Verdict No. 315/PDT/2015/PTDKI. Case Verdict No. 982/X/ARB-BANI/2017 from jo.No.556/PDT.G/2013/PN.JKT.PST and Verdict BANI where the Company was ordered to pay No. 315/PDT/2015/PT DKI, the compensation for investment made by SSU District Court and the Jakarta High Court and reimburse the earnest money deposit granted the motion of BNI Syariah and ordered to SSU amounting to Rp 104,793,567 and Rp the Company to pay a penalty of Rp 2,491,890. 3,750,000, respectively. Based on this verdict, the Company filed an appeal on January 26, 2016.

As of December 31, 2017, the Company booked a provision of Rp 87,826,828 in the accrual expense account.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 251 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

The Company submitted an appeal to Central 2. SSU continued to be responsible for paying Jakarta District Court on October 23, 2018, land rent and concession to the respondent. which stated the following: 3. It was necessary to reassess the hotel valuation. 1. The arbitration award violated public order because it disregarded the report On May 15, 2019, the Company and SSU signed an on the results of investigative audit of the agreement in which SSU agreed to hand over the Financial and Development Supervisory land and hotel building to the Company in return Board (BPKP). for a payment of Rp 86.7 billion. On May 16, 2019, 2. Based on the minutes of the meeting held the Company paid such amount to SSU. on August 16, 2018 with the SSU, SSU did not object if compensation was calculated Changes in Accounting Policies with its obligations. In 2019, PT Angkasa Pura I (Persero) did not make 3. SSU had agreed that the compensation adjustments or changes in accounting policies. sum was to be reduced by payment of the However, effective per January 1, 2019, the Company connecting corridor. adopted several relevant new accounting 4. SSU continued to be responsible for standards in accordance with internationally paying the land rent and concession to accepted accounting standards and practices. the respondent. The following table provides an explanation of 5. SSU was obliged to surrender the changes in the Statement of Financial Accounting Company’s land and transit hotel to the Standards (PSAK) and the new Interpretation of Company. Financial Accounting Standards (ISAK).

The Company again submitted an appeal to the Central Jakarta District Court on November 6, 2018, which stated that: 1. SSU had agreed that the compensation sum was to be reduced by payment of the connecting corridor building as part of the transit hotel.

Changes in Accounting Policies Beginning on and after January 1, 2019

Accounting No Adoption of IFRS/IAS Summary of Changes Impact on Angkasa Pura I Standard

1. ISAK 33 IFRIC 22 Foreign Currency No significant impact on Transactions and Advance financial statements. Consideration

2. ISAK 34 IFRIC 23 Uncertainty in Treatment of No significant impact on Income Tax financial statements.

3. Amendment to Amendments to IAS 19 Rewards regarding No significant impact on PSAK 24 (2018 Amendments, Curtailment, financial statements Adjustment) or Program Completion.

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Changes in Accounting Policies Beginning on and after January 1, 2019

Accounting No Adoption of IFRS/IAS Summary of Changes Impact on Angkasa Pura I Standard

4. PSAK 22 Annual Improvements Business Combination No significant impact on (2018 Adjustment) to IFRSs 2015-2017 Cycle financial statements. – IFRS 3

5. PSAK 26 Annual Improvements Loan Fee No significant impact on (2018 Adjustment) to IFRSs 2015-2017 Cycle financial statements. – IAS 23

6. PSAK 46 Annual Improvements Income Tax No significant impact on (2018 Adjustment) to IFRSs 2015-2017 Cycle financial statements. – IAS 12

7. PSAK 66 Annual Improvements Joint Arrangements No significant impact on (2018 Adjustment) to IFRSs 2015-2017 Cycle financial statements. – IFRS 11

Impact of New and Revised Financial Accounting Standards (PSAK) The Company has analyzed the application of the accounting standards mentioned above and the application has no significant impact on the financial statements.

Information on Business Continuity

Amendment to Provision of Laws and Regulations In 2019, there were amendments to provisions of laws and regulations that impacted on the business activities of PT Angkasa Pura I (Persero), as follows:

Regulation No Institution Subject Impact Number

1. Ministry of 128/ Provision of Gross Income Reduction Angkasa Pura I has enhanced Finance PMK.010/2019 for Implementing Work Practices, HR development based on Internship and/or Learning Activities competencies and internship of in the Framework of Developing employees, determined by the Human Resources Based on Specific Training and Development unit. Competencies

2. Ministry of PER-01/ Fourth Amendment to Minister of Amendment to the regulation State-Owned MBU/2019 State-Owned Enterprises Regulation has resulted in the increase in the Enterprises No. PER-04/MBU/2014 concerning salary and bonus of the Director in Guidelines for Determining the charge of Human Resources and Income of Board Directors, Board of General Affairs. Commissioners, and the Supervisory Board of State-Owned Enterprises

3. Directorate PER-05/ Agency/ Institution established or Currently, the deduction of Zakat General of Taxes PJ/2019 authorized by the Government and for employees by 2.5% of income is Ministry of designated as Recipient of Zakat or transferred to the account of the Finance Mandatory Religious Contributions National Zakat Agency. that can be deducted from Gross Income

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 253 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Regulation No Institution Subject Impact Number

4. Ministry of 166 National Airport a. Enhancement of Airport status from Domestic to Transportation Order International; b. Determination of role, function and classification standards of airports; c. Fulfillment of Airport Certificate for all airports; d. Active participation in supporting the ASEAN Open Sky Policy by regulating aircraft slot times in maximizing the potential for increased aircraft, passenger and cargo movements.

Matters that Potentially Have a either related to operations or marketing and Significant Impact on Business Continuity finance. In addition, there were no matters that Until the end of 2019, there were no matters that could pose a risk to the airport industry throughout could potentially have a significant impact on the 2019. business continuity of PT Angkasa Pura I (Persero),

Tax Disclosure

Publication of Tax Payments In carrying out its operational activities, PT Angkasa taxation rights and obligations. The tax obligations Pura I (Persero) has adhered to good corporate were carried out in accordance with applicable governance principles in a transparent and regulations. accountable manner, especially in managing its

Tax Payments of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Description 2019 2018 2017

Income Tax Article 21 198,882,750 162,789,707 124,603,089

Income Tax Article 22 5,641,914 4,523,965 -

Income Tax Article 21 and 26 28,491,494 26,348,212 20,551,619

Income Tax Article 4 Paragraph 2 248,509,945 132,485,016 55,605,562

Corporate Income Tax 485,287,229 432,540,331 379,062,029

Value Added Tax (1111) 621,337,506 646,830,078 783,739,976

Mandatory Value Added Tax (1107) 1,040,720,298 698,144,910 -

SWPD3D/BNN and Other Tax Expenses 157,830,977 166,345,493 32,192,035

Land and Building Tax and Other Regional Taxes 180,369,880 139,173,979 149,707,340

Total 2,967,071,993 2,409,181,695 1,545,461,649

PT Angkasa Pura I (Persero) 254 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Payment Compliance and Tax Disputes Taxation Basis During 2019, PT Angkasa Pura I (Persero) In the performance of its taxation obligations, performed its tax obligations in accordance with PT Angkasa Pura I (Persero) refers to applicable existing provisions, thus there were no compliance taxation provisions and carries out fiscal issues in terms of tax payments. In addition, per reconciliation. Then, the taxable income December 31, 2019, the Company was not involved following reconciliation becomes the basis for in tax disputes. filling the 2019 Annual Corporate Tax Return. In 2019, several adjustments were made to the tax calculation, namely as follows:

Fiscal Reconciliation Data for Taxation of PT Angkasa Pura I (Persero) in the Last Three Years (in thousand Rupiah)

Description 2019 2018 2017

Profit Before Corporate Incomes Tax in Consolidated 1,944,535,245 2,694,934,057 1,789,497,375 Statement of Profit or Loss and Comprehensive Income

Tax Expenses 492,308,079 689,015,898 369,144,323

Deferred Tax Assets 48,494,898 41,157,712 83,863,138

Deferred Tax Liabilities 79,885,504 89,079,821 -

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 255 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Performance of Subsidiaries

As of 2019, the Company has 5 (five) subsidiaries. A description of the subsidiaries is presented in the Profile section of this Annual Report. The performance of subsidiaries is presented as follows.

PT Angkasa Pura Support PT Angkasa Pura Support had good performance in or Rp 29,626 billion to Rp 147.829 billion in 2019. In 2019 by booking operating revenues of Rp 1,524.722 terms of balance sheet, PT Angkasa Pura Support billion, increased by 23.03% or Rp 285,437 billion recorded an increase in company assets of 36.84% from Rp 1,239.29 billion in 2018. On the other hand, or Rp 375,311 billion, from Rp 1,018.67 billion in 2018 operating profits experienced negative growth by to Rp 1,393.988 billion in 2019. -2.19% or Rp 3,713 billion, therefore operating profit was Rp 166.028 billion in 2019 from Rp 169.74 billion in 2018. Further, net profit decreased by -16.69%

Financial Performance of PT Angkasa Pura Support in the Last Three Years (in million Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Assets 375,311 36.84 1,393,988 1,018,677 810,800

Liabilities 301,765 73.41 712,818 411,053 331,840

Equities 73,546 12.1 681,170 607,624 468,960

Operating Revenue 285,437 23.03 1,524,722 1,239,285 1,017,802

Operating Expense 289,15 27.03 1,358,694 1,069,544 863,177

Operating Profit 3,713 -2.19 166,028 169,741 154,625

Non-Operating Revenue 21,66 -89.55 2,527 24,187 15,877

Non-Operating Expenses 4,253 25.82 20,726 16,473 20,942

Non-Operating Profit 1,036 6 18,199 7,714 -5,065

Total Revenue 263,777 20.88 1,527,249 1,263,472 1,033,679

Total Expenses 293,403 27.02 1,379,420 1,086,017 884,119

Net Profit 29,626 -16.69 147,829 177,455 149,561

Current and Deferred Tax 20,348 82.31 45,070 24,722 37,841 Expense

After-Tax Profit (Loss) 49,973 -32.72 102,760 152,733 111,719

Cash Ratio 159.71% 35.18% 35.67%

Current Ratio 21.78% 192.75% 219.04%

Test Acid Ratio 44.51% 70.06% 123.76%

Return on Asset 7.37% 14.99% 13.78%

Return on Equity 15.09% 25.14% 23.33%

PT Angkasa Pura I (Persero) 256 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

PT Angkasa Pura Logistik The operating revenues of PT Angkasa Pura 2019. In terms of balance sheet, PT Angkasa Pura Logistik was Rp 386.003 billion in 2019, increased Logistik recorded a growth in company assets by 7.49% or Rp26.909 billion from Rp 359.09 billion by22.21% or Rp 55.051 billion, from Rp 247.88 billion in 2018. However, operating profit experienced in 2018 to Rp 302.93 billion in 2019. negative growth by -45.17% or Rp30.494 billion from Rp67.51 billion in 2018 to Rp 37,014 billion in 2019. Further, the net profit of PT Angkasa Pura Logistik decreased by -48.39% or Rp 35.681 billion, from Rp 73.73 billion in 2018 to Rp38.05 billion in

Financial Performance of PT Angkasa Pura Logistik in the Last Three Years (in million Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Assets 55,051 22.21 302,928 247,877 250,85

Liabilities 37,32 50.72 110,902 73,582 118,363

Equities 17,731 10.17 192,026 174,295 132,487

Operating Revenue 26,909 7.49 386,003 359,094 370,411

Operating Expenses 57,402 19.69 348,988 291,586 280,632

Operating Profit 30,494 -45.17 37,014 67,508 89,779

Non-Operating Revenue 6,076 -84.1 1,149 7,225 5,712

Non-Operating Expenses 889 -88.68 113 1,002 2,111

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 257 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Financial Performance of PT Angkasa Pura Logistik in the Last Three Years (in million Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Non-Operating Profit 5,187 -83.36 1,036 6,223 3,601

Total Revenue 20,833 5.69 387,152 366,319 376,123

Total Expenses 56,514 19.32 349,102 292,588 282,743

Net Profit 35,681 -48.39 38,05 73,731 93,379

Final Tax Expense (Article 4 359,388 0 612 360 0 Paragraphs 2 and 23)

Current and Deferred Tax 6,764 -37.2 11,42 18,184 23,224 Expense

After-Tax Profit (Loss) 29,169 -52.85 26,018 55,187 70,156

Cash Ratio 141.53% 107.51% 65.08%

Current Ratio 19.60% 268.01% 185.21%

Test Acid Ratio 181.53% 165.75% 94.81%

Return on Asset 8.59% 22.26% 27.79%

Return on Equity 13.55% 31.66% 52.95%

PT Angkasa Pura I (Persero) 258 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Pt Angkasa Pura Properti In 2019, PT Angkasa Pura Properti showed a PT Angkasa Pura Properti increased by 10.67% or decline in the operating revenue of Rp206.116 Rp51.801 billion, from Rp485.60 billion in 2018 to billion or -45.87% compared to Rp 449.32 billion Rp537.39 billion in 2019. in 2018. Further, the operating profit experienced a negative growth of -62.91% or Rp 26,578 billion, from Rp42.24 billion in 2018 to Rp15.670 billion in 2019. In addition, the net profit decreased by -73.60% or Rp30.083 billion, from Rp40.87 billion in 2018 to Rp 10.790 billion in 2019. Total assets of

Financial Performance of PT Angkasa Pura Properti in the Last Three Years (in million Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Assets 51.801 10,67 537.396 485.595 331.868

Liabilities 55.394 19,95 333.024 277.630 150.670

Equities 3.593 -1,73 204.371 207.964 181.169

Operating Revenue 206.116 -45,87 243.204 449.320 299.817

Operating Expense 179.538 -44,10 227.534 407.072 282.815

Operating Profit 26.578 -62,91 15.670 42.248 17.002

Non-Operating Revenue 767 48,28 2.355 1.588 2.225

Non-Operating Expenses 4.271 144,14 7.234 2.963 1.185

Non-Operating Profit 3.504 254,85 (4.879) (1.375) 1.039

Total Revenue 205.349 -45,54 245.559 450.908 302.041

Total Expenses 175.267 -42,74 234.768 410.035 284.000

Net Profit 30.083 -73,60 10.790 40.873 18.041

Final Tax Expense (Article 4 4.919 0,00 9.598 14.517 0 Paragraphs 2 and 23)

Current and Deffered Tax 70.283 -98,99 717 71.000 2.485 Expense

After-Tax Profit (Loss) 24.517 -92,77 123,04% 29,20% 20,29%

Cash Ratio 16,79% 142,73% 171,95%

Current Ratio 47,05% 56,41% 51,56%

Test Acid Ratio 0,36% 5,44% 4,96%

Return on Asset 0,93% 12,71% 8,59%

Return on Equity 13.55% 31.66% 52.95%

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 259 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Pt ANGKASA PURA HOTEL The operating revenue of PT Angkasa Pura Hotel With the decline in profit, PT Angkasa Pura Hotel increased by 2.94% or Rp11.6 billion, from Rp395.50 was recorded to have assets of Rp738.82 billion billion in 2018 to Rp407.11 billion in 2019. On the other in 2019 compared to Rp728.23 billion in 2018, or hand, the company’s operating profit decreased increased by Rp10.592 billion or 1.45%. by 16.771 billion or -58.40%, from Rp28.716 billion in 2018 to Rp11.949 billion in 2019. Net profit in 2019 also decreased by -46.40% or Rp12.718 billion, from Rp27.41 billion in 2018 to Rp14.69 billion in 2019.

Financial Performance of PT Angkasa Pura Hotel in the Last Three Years (in million rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Assets 10,592 1.45 738,817 728,225 708,033

Liabilities 5,051 6.44 83,539 78,488 74,539

Equities 5,541 0.85 655,278 649,737 633,494

Operating Revenue 11,614 2.94 407,109 395,495 265,240

Operating Expense 28,384 7.74 395,163 366,779 252,978

Operating Profit 16,771 -58.4 11,945 28,716 12,261

Non-Operating Revenue 200 5.11 4,108 3,908 3,855

Non-Operating Expenses 3,853 -73.87 1,362 5,215 311

Non-Operating Profit 4,052 -310.05 2,745 1,307 3,544

Total Revenue 11,813 2.96 411,216 399,403 269,095

Total Expenses 24,532 6.59 396,526 371,994 253,290

Net Profit 12,718 -46.4 14,691 27,409 15,805

Final Tax Expense (Article 4 64,992 0 8 65 0 Paragraphs 2 and 23)

Current and Deffered Tax 5,991 -53.61 5,184 11,175 2,998 Expense

After-Tax Profit (Loss) 6,671 -41.26 9,498 16,169 12,807

Cash Ratio 313.85% 150.45% 142.29%

Current Ratio 191.60% 273.44% 266.07%

Test Acid Ratio 325.53% 224.17% 221.56%

Return on Asset 1.29% 2.22% 1.81%

Return on Equity 1.45% 2.49% 2.02%

PT Angkasa Pura I (Persero) 260 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Pt ANGKASA PURA RETAIL In general, PT Angkasa Pura Retail showed good the operating profit and net profit in 2019 were financial performance with total operating Rp7.26 billion and Rp8.93 billion, respectively. In revenues in 2019 of Rp106.312 billion, increased comparison to performance in 2018, operating by 18.39% or Rp16.52 billion from the operating profit experienced negative growth by -75.81% revenues in 2018 of Rp89.80 billion. Further, or Rp 22.75 billion, while net profit decreased by -74.42% or Rp25.99 billion.

Financial Performance of PT Angkasa Pura Retail in the Last Three Years (in million Rupiah)

Growth in 2019 Description 2019 2018 2017 (Rp) %

Assets 9,162 11 90,226 81,064 73,261

Liabilities 3,591 13.33 30,535 26,944 32,612

Equities 5,571 10.29 59,691 54,12 40,649

Operating Revenue 16,515 18.39 106,312 89,797 69,698

Operating Expense 39,263 65.67 99,053 59,79 60,954

Operating Profit 22,748 -75.81 7,259 30,007 8,744

Non-Operating Revenue 5,217 -74.83 1,755 6,972 4,656

Non-Operating Expenses 1,977 -96.02 82 2,059 2,584

Non-Operating Profit 3,24 -65.94 1,673 4,913 2,073

Total Revenue 11,298 11.68 108,067 96,769 74,354

Total Expenses 37,286 60.28 99,135 61,849 65,537

Net Profit 25,987 -74.42 8,933 34,92 10,817

Final Tax Expense (Article 4 4,002 0 963 4,965 0 Paragraphs 2 and 23)

Current and Deffered Tax 14,673 -88.14 1,975 16,648 0 Expense

After-Tax Profit (Loss) 7,312 -54.95 5,995 13,307 10,817

Cash Ratio 264.35% 191.12% 46.51%

Current Ratio 130.13% 259.33% 154.12%

Test Acid Ratio 450.76% 219.04% 121.63%

Return on Asset 6.64% 16.42% 14.76%

Return on Equity 10.04% 24.59% 26.61%

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 261 PT Angkasa Pura I (Persero) 262 Laporan Tahunan 2019 Corporate Governance

Good corporate governance is the process of implementing corporate governance principles supported by the adequate structure and soft structure to produce results that are line with stakeholder expectations.

PT Angkasa Pura I (Persero) has always committed to implementing GCG consistently and sustainably based on regulations, applicable provisions and the Company’s articles of association.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 263 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Governance Framework and Structure

Policy Basis for GCG Implementation PT Angkasa Pura I (Persero) implements good Material Information or Facts by Issuers or corporate governance (GCG) principles as the Public Companies. foundation in conducting its business operations, 8. Financial Services Authority Regulation No. 21/ both within the parent as well as subsidiaries. POJK.04/2015 Concerning The Implementation In 2019, this endeavor was acknowledged by of Corporate Governance Guidelines for Public the achievement of various awards, including Companies. “The Most Committed GRC Leader 2019” for the 9. Financial Services Authority Circular No. President Director and “Top GRC 2019 #3 Stars” 32/SEOJK.04/2015 Concerning Corporate at the TOP GRC 2019 competition held by Top Governance Guidelines for Public Companies. Business Magazine, the National Committee on Governance (KNKG), Indonesian Risk Management In addition, PT Angkasa Pura I (Persero) implements Professional Association (IRMAPA), Institute of GCG based on national and international best Compliance Professional Indonesia (ICoPI), and practices, namely: Asian Business Research. 1. Indonesian GCG Manual developed by the National Committee on Governance Policy (KNKG) In principle, GCG implementation within PT 2. Governance principles for state-owned Angkasa Pura I (Persero) refers to various enterprises developed by the Organization regulations, namely: for Economic Co-operation and Development 1. Law No. 19 of 2003 concerning State-Owned (OECD) Enterprises (SOE). 3. ASEAN Corporate Governance Scorecard (ACGS) 2. Law No. 40 of 2007 concerning Limited Liability Companies. Furthermore, GCG implementation is supported 3. Government Regulation of the Republic by the Company’s internal guidelines, including of Indonesia No. 45 of 2001 concerning guidelines for behavior, functions and tasks Amendment to Government Regulation of company’s organ in carrying out GCG. The No. 12 of 1998 concerning Limited Liability implementation of GCG principles aims to build an Companies (Persero). ethical and resilient corporate culture. As of end-2019, 4. Minister of State Owned Enterprise Regulation the Company’s internal guidelines are as follows: No. PER-01/MBU/2011 dated August 1, 2011 1. Code of Corporate Governance concerning The Implementation of Good 2. Code of Conduct Corporate Governance for State Owned 3. Board of Directors and Board of Commissioners Enterprises and Amendment to Minister of Work Procedure Guidelines (Board Manual) State Owned Enterprise Regulation No. PER- 4. Audit Committee Charter 09/MBU/2012 dated July 6, 2012. 5. Internal Audit Charter 5. The Secretary of Minister of State Owned 6. Collective Labor Agreement 2017-2019 Enterprise Regulation No. SK-16/S.MBU/2012 7. Anti-Corruption Guidelines dated June 6, 2012 Concerning The 8. Whistleblowing System Guidelines Indicator Parameter and Evaluation of the 9. Risk Management Guidelines Implementation of Good Corporate Governance 10. Information Technology Governance in State Owned Enterprises (SOEs). Guidelines 6. Financial Services Authority Regulation No. 8/ 11. Compliance Guidelines POJK.04/2015 Concerning Website of Issuers 12. Report of State Official Assets (LHKPN) or Public Companies. Guidelines 7. Financial Services Authority Regulation No. 13. Other policies and Standard Operating 31/POJK.04/2015 concerning Disclosure on Procedures (SOP) of the Company

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Governance Framework and Structure

GCG Implementation Framework With respect to GCG implementation, Shareholders (GMS), Board of Commissioners, establishment of the Main Organs and Supporting and Board of Directors. Whereas, the Supporting Organs within PT Angkasa Pura I (Persero) as Organs consist of Corporate Secretary, Audit well as Company infrastructure has enabled the Committee, Business Risk Management and Good governance process to run in an effective manner. Corporate Governance Committee, Internal Audit The Main Organs consist of General Meeting of Committee, and Risk Management Committee.

Governance Structure Governance Process • Main Organs • Commitment to Sustainable Implementation of Good • Supporting Organs Corporate Governance • Infrastructure • Shareholders and GMS/Capital Owners • Responsibilities of Board of Commissioners • Responsibilities of Board of Directors • Information Disclosure and Transparency

Governance Outcome • Optimize the value of the company to have competitive advantage, both nationally and internationally. • Encourage the management of the Company in a professional, efficient and effective manner and increase the independence of the Company’s Organs. • Encourage Company Organs to make decisions and take actions based on high moral values and compliance with laws and regulations, and to build awareness of the Company’s social responsibility towards stakeholders and environmental sustainability. • Increase the contribution of the Company in the national economy. • Create a conducive environment for the enhancement of national investment.

GCG Structure and Mechanism GCG structure of PT Angkasa Pura I (Persero) Furthermore, the GCG mechanism is based on consists of the General Meeting of Shareholders various principles, regulations and guidelines (GMS), Board of Commissioners, and Board of related to GCG. Each organ has its main duties and Directors who ensure that the process is carried functions as well as respective authorities. Board out in a systematic and continuous manner in of Directors is fully responsible for the Company’s accordance with prevailing rules and regulations. management, while the Board of Commissioners In this context, Board of Commissioners and Board perform adequate supervision to the management of Directors are supported by various supporting of the Company. Both of these organs carry out organs, namely Corporate Secretary and their tasks in accordance with the direction of the committees under the Board of Commissioners GMS. The supporting organs are at the forefront including Risk Management and Internal Audit. to ensure that GCG principles are implemented in the Company’s daily activities.

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General Meeting of Shareholders

Board of Commissioners Board of Directors

• Secretary to Board of Commissioners • Risk Management Committee • Audit Committee • Internal Audit • Business Risk and GCG Committee • Corporate Planning and Transformation • Compliance and Risk Management • Legal Unit • Work Units in each Directorate

General Meeting of Shareholders

The General Meeting of Shareholders (GMS) is the 4. Organize the GMS in the event the Board of premier governance organ and the mechanism Directors and/or Board of Commissioners fail for making important and strategic decisions to hold the AGM and at any time request an by Shareholders. Each year, PT Angkasa Pura I EGMS if deemed necessary as mandated by (Persero) holds the Annual General Meeting of the Articles of Association Shareholders (AGM) which consists of: 5. Transfer the ownership of Company shares • AGM for discussion of the Company Work Plan and Budget (RUPS RAKP) Authority of the GMS • AGM for Approval of Annual Report and In general, the GMS has special authorities that are Ratification of the Company’s Financial not delegated to the Board of Directors and Board Statements of Commissioners,as follows: 1. Approve the Company’s Long-Term Plan Besides the AGM, if necessary PT Angkasa Pura (RJPP) and Company Work Plan and Budget I (Persero) may hold an Extraordinary General (RKAP) Meeting of Shareholders (EGMS). 2. Establish the calculations on Company profit to be allocated as: Rights of Shareholders a. Dividends to Shareholders At the GMS, Shareholders have the following rights: b. Reserve 1. Attend and vote at the GMS c. Partnership and Community 2. Obtain material information (including Development Program (PKBL) the right to ask questions) from the Board 3. 3. Appoint and dismiss the Board of Directors of Commissioners and Board of Directors and Board of Commissioners regarding finance or other matters related to 4. Set performance targets for each member of Company affairs Board of Directors and Board of Commissioners 3. Receive a share of the Company’s profits 5. Conduct collective and individual performance (dividends) evaluation of the Board of Directors and Board of Commissioners

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6. Assign an External Auditor to audit the convenes the GMS by disseminating information Company’s Financial Statements on its planned date, time, venue and agenda. 7. Determine the remuneration of the Board of Information on the planned GMS is available and Directors and Board of Commissioners accessible to Shareholders at the PT Angkasa 8. Determine the maximum number of Pura I (Persero) office, from the date of the GMS concurrent positions that may be held by a invitation until its actual hosting. member of the Board of Commissioners 9. Determine the maximum number of Implementation of GMS on Company Work concurrent positions that may be held by Plan and Budget for the Financial Year a members of the Board of Directors in 2019 and its realization subsidiaries The GMS to discuss PT Angkasa Pura I (Persero) 10. Delegate authority to the Board of Work Plan & Budget (RKAP) for the Financial Year Commissioners and Board of Directors 2019 was held on January 10, 2019 at the Ministry 11. Dissolve or liquidate the Company of State Owned Enterprises, 6th Floor Meeting Room, Jalan Medan Merdeka Selatan No. 13 GMS Implementation and Voting Process Central Jakarta. In this context, the GMS invitation PT Angkasa Pura I (Persero) holds a GMS in was circulated to Shareholders through letter No. accordance with the Articles of Association and API134/KU01.03/2019/DU-B dated January 9, 2019. applicable regulations. The GMS may be held if All members of the Board of Commissioners and attended by at least 51% holders of outstanding Board of Directors attended the GMS. The various shares with voting rights or representatives, unless resolutions from the GMS have been informed to the statutory regulations and/or the Articles of Shareholders through the website www.silaba. Association determine otherwise. Prior to the bumn.go.id on 29 March 2019. In addition, the GMS event, PT Angkasa Pura I (Persero) announces and Minutes have also been posted on the Company website (www.ap1.co.id).

Resolutions during GMS on Company Work Plan & Budget for the Financial Year 2019 Agenda Item 1 Ratification of the Company Work Plan and Budget (RKAP) for the Financial Year 2019. Resolution To ratify the Company Work Plan and Budget 2019, as per the following: a. Consolidated Financial Statement Assets Current Assets Rp 4.804.994 million Non-Current Assets Rp 39.458.734 million Total Assets Rp 44.263.728 million Liabilities and Equity Current Liabilities Rp 3.330.904 million Non-Current Liabilities Rp 24.106.450 million Equity Rp 16.826.374 million Total Liabilities and Equity rp 44.263.728 million

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Resolutions during GMS on Company Work Plan & Budget for the Financial Year 2019 Agenda Item 1 Ratification of the Company Work Plan and Budget (RKAP) for the Financial Year 2019.

b. Consolidated Statement of Income and Other Comprehensive Income Revenue Revenue Rp 9.997.620 million Operating Expenses Rp 7.028.255 million Business Profit (Loss) rp 2.969.365 million Other Income (Expenses) Rp (428.499) million Profit (Loss) Before Tax rp 2.543.998 million Income Tax Rp 528.766 million Net Profit (Loss) of Current Year Rp 2.015.232 million Non-Controlling Interest Rp (4.030) million Net Profit (Loss) Attributable to Parent Entity Rp 2.011.201 million

c. Investment Operational Rp 3.554.343 million Development Rp 13.971.822 million Total Investment Rp 17.526.165 million

d. Human Resources Core Employees : 3.697 persons Supporting Staff : 6.105 persons Total Employees : 9.802 persons

e. Corporate Soundness Level The targeted soundness level score of the Company Work Plan & Budget 2019 as per calculations stated in Minister of SOE Decree No. KEP-100/MBI/2002 is 92.0 or Category of AA (Healthy)

f. The Board of Commissioners’ Work Plan & Budget 2019 is as stated in the Company Work Plan & Budget 2019 book

Agenda Item 2 Ratification of the Work Plan and Budget for the Partnership and Community Development Program (RKA-PKBL) 2019. Resolutions a. Partnership Program Available Funds Opening Balance Rp - Loan Repayments by Assisted Partners Rp 24.208 million Revenue from Loan Administration Rp 3.251 million Other Income Rp 44 million Total Available Funds rp 30.503 million Disbursement of Funds Loans to Assisted Partners Rp 25.570 million Disbursement of development funds/grants Rp 2.933 million Disbursement of Special SOE Fund Rp 2.000 million Total Funds Disbursed rp 30.503 million Closing Balance Rp 0 million

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Agenda Item 2 Ratification of the Work Plan and Budget for the Partnership and Community Development Program (RKA-PKBL) 2019. b. Community Development Program Available Funds Opening Balance Rp - million Other Income Rp - million Additional Support from Mentoring SOE Rp 39.662 million Other Revenue Rp - million Total Available Funds rp 39.662 million Disbursement of Funds Community Development Fund Disbursement Rp 39.662 million Closing Balance Rp - million

Agenda Item 3 Approval and Ratification of the Management Contract (Key Performance Indicators) between the Board of Directors and Board of Commissioners with Shareholders for 2019. Resolution To approve and ratify the Management Contract (Key Performance Indicators) between the PT Angkasa Pura I (Persero) Board of Directors and Board of Commissioners with Shareholders for 2019, which refers to the Assessment Criteria for Performance Excellence (KPKU) and Minister of SOE Letter No. S-564/MBU/08/2018 dated August 30, 2018 concerning Submission of Shareholders/ Owners’ Aspirations for Compilation of the Company Work Plan and Budget for the Financial Year 2019.

Agenda Item 4 Approval and Ratification of Key Performance Indicators between the Board of Commissioners and Shareholders for 2019. Resolution To approve and ratify the Key Performance Indicators Contract for 2019 between the Board of Commissioners and Shareholders, which refers to Minister of SOE Regulation No. PER-01/MBU/2011 jo. No. PER-09/MBU/2012 dated July 6, 2012 concerning Amendment to Minister of SOE Regulation No. PER-01/MBU/2011 concerning the Implementation of Good Corporate Governance (GCG) Principles at SOEs.

Agenda Item 5 Determination of Operational Aspect Indicators for 2019. Resolution To approve and ratify the determined Operational Aspect Indicators for assessing the Soundness Level of PT Angkasa Pura I (Persero) in 2019, as proposed by the Board of Commissioners.

Agenda Item 6 Approval for the Issuance of Bonds/Sukuk and/or Bank/Non-Bank Loans. Resolution To approve the Issuance of Bonds/Sukuk and/or Bank/Non-Bank Loans amounting to Rp 13 trillion, under the following provisions: a. Comply with all applicable regulations and provisions on issuance of bonds/sukuk and bank/ non-bank loans, and with due regard to the principles of good corporate governance;

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b. The plan execution should be carried out in a prudent manner, and to mitigate any potential risks with respect to the legal, operational and financial aspects of the company. c. Issuance of bonds/sukuk should consider the factors of timing and tenor with respect to funding requirements; d. The Board of Commissioners is requested to supervise, evaluate and monitor the issuance of bonds/ sukuk and Bank/Non-Bank loans on a regular basis, considering that its value is highly material for the company e. Approval for the issuance of bonds/sukuk and Bank/Non-Bank loans is for a period of 1 (one) year from the date of resolution.

Agenda Item 7 Approval for Delegation of Authority. Resolution To approve the delegation of authority to: a. Board of Directors to make changes and reallocate program/activity budgets within an investment group to a maximum of 10% of the total investment value in 2019 b. Board of Commissioners to approve changes with respect to addition/removal of programs/ activities between investment groups to a maximum of 10% of total investment in 2019 without changing the total investment value.

Directives from GMS on Company Work Plan and Budget for the Financial Year 2019 and Follow-Ups

No Directive Follow-Up

1. The Company Work Plan & Budget (RKAP), In implementing work programs and performance targets for Partnership and Community Development 2019, the Board of Directors was guided by RKAP, RKA-PKBL, Program Work Plan & Budget (RKA-PKBL), RKA of Board of Commissioners and KPI (Key Performance Board of Commissioners Work Plan & Indicator) of the Board of Commissioners in 2018 which has been Budget and Board of Commissioners’ KPI approved and ratified by the General Meeting of Shareholders for 2018 which have been approved and (GMS) as well as suggestions and recommendations of the ratified by the GMS, as well as suggestions Board of Commissioners in the implementation of the 2018 and recommendations of the Board of RKAP as submitted by the Board of Commissioners Response Commissioners in executing the Company Letter No. 76/DK.AP.1/2018 dated December 18, 2018 and reported Work Plan & Budget for the Financial Year periodically to shareholders in a timely manner. 2018 as stated in the Board of Commissioners’ Response Letter No. 76/DK.AP.1/2018 dated December 18, 2018, are an integral part of the Minutes of the GMS Resolutions and serve as guidelines for the Board of Directors in carrying out the work program and achieving performance targets in 2018, and a means of monitoring and supervision for the Board of Commissioners.

2. Under the Board of Commissioners’ supervision, the Board of Directors is tasked to:

a. Cascade & deploy the Company’s RKAP and The Board of Directors has prepared cascading and deployment KPI targets down to lower level officials/of RKAP and Corporate targets according to the direction of the employees, regional offices, branches andGMS work units, including subsidiaries

b. Implement the Company Work Plan & Budget Conduct an early warning for the realization of the RKAP so that in an effective and cost efficient manner; to the targets in the RKAP can be achieved. work earnestly and do the best in achieving established targets to advance the company in accordance with the prevailing laws and regulations ,as well as pay due regard to the principles of GCG and professionalism

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No Directive Follow-Up

c. Conduct a synergy with other Have conducted a synergy with other SOEs following the RKAP targets SOEs to achieve RKAP targets and and actively participated in supporting the SOE consolidation policy with actively support the policy of SOE due regard to the principles of GCG and risk management consolidation, with due regard to the principles of GCG and risk management

d. Pay attention to the large Even though there was a decrease in traffic due to an increase in airplane investment involved, and conduct tickets, PT Angkasa Pura I (Persero) remained committed to support the efforts towards its achievement to National Development and National Strategic Projects. deliver improvements in company performance, service quality to PT Angkasa Pura I (Persero) also implemented strategic policies related to airport users, aviation safety and investment as follows: security, and the National Strategic • Cost and Risk Management strategy is the strategy in investing Project. The implementation of selectively by focusing on cost efficiency, risk management, investment program requires more and implementation by the principles of World Class Company careful planning and preparation Management and Good Corporate Governance. so that the risk of failures can be • Standards for operating costs have been established so as to improve minimized efficiency in the process of work tenders. • Reengineering of Angkasa Pura I Data Network Infrastructure, intended as a network upgrade at the airport to support business operations and as the central infrastructure supporting the digital monetizing business at the airport, is currently in the preparatory stages of procurement, • Predictive Analytics aimed to improve decision-making capabilities at the top management level was already in the stage of user requirement gathering through the design thinking event held in Bali on 03/03/2020. • AOCS as an ACDM (Airport Collaborative Decision Making) supporting facility in the Airport operational process, which is currently in the preparation stage of procurement documents after a standardization process has been carried out by AOCS planning consultants

Operation of YIA, BDJ, PKP-PK Foam Tender Type 1 vehicles at five airports, Overlay MDC, KOE, BDJ, Commencement of construction of UPG, T1 SUB and signed by Sentani KPBU-PKS.

e. In an attempt to support the • The Remuneration System has adopted the 3P pattern, namely, Pay company’s operations and for Person, Pay for Position, and Pay for Performance as stipulated in development, the Board of the Decree of the Board of Directors Number: KEP.193 / KP.10 / 2017/DU Directors is requested to continue to dated November 1, 2017. Pay for Person is provided in the form of Basic improve the quality of professional salary, Pay for Position is provided in the form of Position Allowance, human resources and implement Transport/Mobility Allowance, and Pay for Performance is provided in objective reward & punishment the form of Merit/Performance Incentives. mechanisms and performance- • The reward mechanism has been carried out objectively by providing based remuneration systems that bonuses to employees in 2018 and 2019 by taking into account can boost employee productivity the achievement of Performance Management System (PMS) achievements of respective employee and KPI of respective workplace. • The punishment mechanism has also been carried out objectively by applying the Employee Discipline rules contained in the Decree of the Board of Directors Number: KEP.81/KP.14/2018/DU regarding Employee Discipline and Collective Labor Agreement (CLA) Article 98 to Article 138.

f. Improve coordination with related I. Transfer of Navigational Equipment - Phase II: agencies to expedite the resolution of A Report of the Financial and Development Supervisory Agency has problems regarding company assets, been published on the Evaluation Results of the Imposition of Rental including the transfer of navigational Costs for Land and Building Utilization for the Implementation and assets to Perum LPPNPI Placement of Navigation Assets Number LHE-136/D402/1/2019 dated December 6, 2019, which has been submitted to the Ministry of SOEs and awaited further decision from the Ministry of SOE.

(Reff: Minutes of Meeting Discussion of the Phase II Transferring Progress of the Operating Assets Number RIS-6/D5.MBU.2/07/2019 dated July 16, 2019)

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No Directive Follow-Up

f. Improve coordination with related II. Transfer of Navigational Equipment - BPYBDS: agencies to expedite the resolution of Government Regulation Draft (RPP) Harmonization: Government problems regarding company assets, Regulation Draft (RPP) Clarification meeting was held on the Addition including the transfer of navigational of State Capital Investment of the Republic of Indonesia into the assets to Perum LPPNPI . Capital of Perum LPPNPI on March 6, 2020 at the Ministry of State Secretariat chaired by the Deputy for Legal Affairs and Legislation, with the results of the meeting that the RPP shall be returned to the Ministry of Finance to be re-evaluated for the difference in the value of BPKP review result and the value of BAST PMN for Juanda Airport - Surabaya.

g. Continue to supervise and develop To increase the value creation of the Subsidiary, PT Angkasa Pura I (Persero) subsidiary and implement good has guided the Subsidiary through strategic directives in accordance subsidiary governance mechanisms, with the long-term development direction of the company to achieve so as to increase company value and targets and improve performance both financially and operationally, has for their operations to contribute to conducted an analysis on the performance of the Subsidiary and has the parent company’s performance. provided suggestions and guidelines for corrective actions to improve business performance.

3. In an attempt to develop business and improve the company value, the company shall:

a. Conduct business development on 1. As of January 1, 2020, PT Angkasa Pura I (Persero) has officially airport management either through managed the Sentani Airport in Jayapura through a collaborative Government appointment or tender scheme to utilize state-owned goods (BMN) with the Indonesian process, both at home and abroad Ministry of Transportation. As for now, PT Angkasa Pura I is focusing on carrying out the transfer of airport operations, managing existing businesses and realizing investment obligations before developing other non-organic businesses. 2. PT Angkasa Pura I (Persero) has qualified as a participant in the KPBU selection process of Hang Nadim Airport - Batam. During the selection, PT Angkasa Pura I (Persero) has collaborated with Incheon International Airport Corporation and PT Wijaya Karya (Persero) by signing a consortium agreement. The KPBU selection process is currently in the RFP stage. 3. On January 13, 2020, a Cooperation Agreement was signed between PT Angkasa Pura I (Persero) (AP1) and Incheon International Airport Corporation (IIAC) concerning the Placement of AP1 Human Resources in Terminal 4 of Kuwait Airport. This cooperation requires AP1 to place several of its employees to manage Kuwait Airport together with IIAC. HR will be placed in the security sector, operational sector and commercial sector.

b. Enter into global cooperation and/or PT Angkasa Pura I (Persero) will immediately carry out a selection strategic investment partnerships process for the strategic partners for development and management of the Lombok International Airport - Praya. Currently, PT Angkasa Pura I (Persero) has completed a feasibility study and selection document and has received a written response from the Board of Commissioners and shareholder support to carry out the selection process.

c. Conduct non-organic business Currently, PT Angkasa Pura I has strived to develop business through development in potential business cooperation in the utilization of idle lands/assets in an effort to create fields by applying the principles of new business through comprehensive studies and take into account the prudence and risk management principles of prudence and risk management so that it is expected to create potential and feasible business so as to provide added value to the company. The cooperation plan on the utilization for idle lands/assets that are currently being pursued includes: 1. Cooperation Plan for the land utilization of Sunset Road Bali with an area of 16,385 m² for the development of the LRT Integrated area; 2. Cooperation Plan for the land utilization of Kelan bay Bali for the development of cottages and premium Factory Outlet; 3. Cooperation Plan for the utilization of Ex-Old Terminal and Ex-Airport Hotel Balikpapan for the development of the integrated Airport Hotel and MICE business;

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No Directive Follow-Up

c. Conduct non-organic business 4. Cooperation Plan for the utilization of Ex Old Terminal of Selaparang development in potential business Airport in Mataram in the form of One Stop Entertainment & fields by applying the principles of Recreation Indoor & Outdoor business development with a form of prudence and risk management. promotion as Selaparang AERO Xperience; 5. Cooperation Plan for the land utilization of Airport City YIA in the form of MICE, Hotel, Retail, Offices, Logistics, Residential development; 6. Cooperation Plan for the land utilization of Demangan and Babarsari Yogyakarta; 7. Cooperation Plan for the land utilization of Cendrawasih Banjarmasin; 8. Cooperation Plan for the land utilization of Semambung Surabaya in the form of development of Bonded Logistic Center (PLB) Warehouse Area.

PT Angkasa Pura I (Persero) has planned commercial and operational development cooperation at I Gusti Ngurah Rai Airport - Bali (Bali Phase II). The current progress indicates that the feasibility study has been finalized by taking account the principles of prudence and risk management so that it is expected to create potential and feasible business to provide added value to the company. In line with this, a selection document draft has been prepared to look for strategic partners. The cooperation plan states that AP I is assisted by strategic partners to carry out commercial and operational development through I Gusti Ngurah Rai Airport, Bali.

d. Structure the business portfolio To increase the value creation of the subsidiaries, PT Angkasa Pura I of subsidiaries and/or Affiliated(Persero) has a strategic directives in accordance with the long-term Companies to run more integrated development direction of the company in order to achieve targets and and profitable businesses. improve performance both financially and operationally, has conducted an analysis on the performance of the subsidiaries and has provided suggestions and guidance on corrective actions to improve business performance.

4. In an attempt to better manage systematic talent management functions, ensure availability and readiness of talents for Sustainable Growth of SOEs, maintain accountability and transparency in the selection of candidates for SOE Directors, and increase the attractiveness of SOEs in retaining and/or developing the best existing talents, the Board of Directors is tasked to support and commit to:

a. Organize the talent management - AP1 has a Board of Directors Decree on Employee Career Patterns system while preparing company which regulates employee career development patterns, job talent to be part of the Ministry of requirements, succession planning, and talent mobility. SOEs talent pool. - The policy shall be integrated with information systems that adopt the principles of GCG (Transparency, Accountability, Responsibility, Independence and Fairness) to facilitate employees in managing their career patterns while serving as Company Employees. - In preparing the Company’s talent, AP1 has conducted a tiered competency assessment in accordance with the level of position that refers to the competency dictionary of the Ministry of SOEs and the Company by using one of the Assessment Institutions recommended by the Ministry of SOEs.

b. Prepare talent pool in respective SOE In 2019, AP1 registered 28% prospective BOD-1 or 14 out of 50 total organic of at least 20%. employees occupying BOD-1 positions in the Company .

c. Prepare candidates for Board of In 2019, AP1 registered 3 candidates for the Board of Directors successors Directors from officials one levelfrom officials one level below the Board of Directors (BOD-1). below Board of Directors (BOD-1) of 3 candidates per BOD position.

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No Directive Follow-Up

5. In accordance with Minister of SOE Has been budgeted in the 2019 RKAP in accordance with GMS directives, Regulation No. PER-01/MBU/06/2017 for the realization of income of the Board of Directors and Board of dated June 19, 2017 concerning Commissioners based on the Letter of the Minister of State Owned- Guidelines for Determination of Enterprises No. S-452/MBU/D5/05/2019 dated May 31, 2019. Remuneration of Board of Directors, Board of Commissioners and SOE Supervisory Board, Bonuses/ Performance Incentives are costs that must be specifically budgeted in the Company Work Plan & Budget 2019 and its realization is subject to achievement of 2019 performance targets as decided in the annual GMS.

6. In the framework of the partnership and community development program of SOE with small businesses, the following issues need to be considered:

a. To submit timely periodic reports PT Angkasa Pura I (Persero) has submitted periodic reports in a timely before the deadline as specified in manner according to Minister of SOE Regulation Number: PER-09/ Minister of SOE Regulation No. PER- MBU/07/2015 on July 3, 2015 09/MBU/07/2015 dated July 3, 2015 and amended under Minister of SOE Regulation No. PER-02/MBU/7/2017 July 5, 2017 concerning Partnership and Community Development Program.

b. The implementation of the In the implementation of the 2019 PKBL program, PT Angkasa Pura I Partnership and Community (Persero) has realized the program in accordance with RKA PKBL 2019. Development Program shall adhere to the PT Angkasa Pura I (Persero) Partnership and Community Development Program Work Plan & Budget (RKA-PKBL) 2019

7. On the unresolved findings of• KAP: auditors (BPK, BPKP, KAP, and SPI), Internal Control and compliance with the Laws and Regulations have the Board of Directors is requested to been completed in the same year at the time of the KAP Audit. prioritize and encourage resolution by establishing clear timelines and • BPK: responsible persons. The function BPK have not been completed the audit and is currently in the and role of the SPI shall be optimized process of follow-up completion, considering that the settlement to assist in resolving the findings, efforts involve the decisions of external parties (TNI AL, DG Binamarga and to detect and prevent violations and International Airlines) early in the process. • Follow up of SPI Findings: Based on the recommendation of SPI, the Branch Office updates the follow-up by submitting financial statement every 5th of the month followed by verification by respective Auditor.

At present, the function and role of the Internal Audit Unit (SPI) as consultant audit have been carried out to provide added value and improve the organization governance processes.

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Implementation of General Meeting of of the Annual Report and Ratification of the Shareholders to Approve the Annual Company’s Financial Statements for the Financial Report and Ratify the Company’s Year 2018 was circulated to Shareholders through Financial Statements for the Financial Letter No. AP.1.3931/KU.01.03/2019/DU on May 17, Year 2018 and its Realization 2019. All members of the Board of Commissioners PT Angkasa Pura I (Persero) organized a GMS on May and Board of Directors attended the General 20, 2019 with the main agenda item to Approve the Meeting of Shareholder. The resolutions of the Annual Report and Ratify the Company’s Financial GMS were submitted to Shareholders through the Statements for the Financial Year 2018. The GMS website www.silaba.bumn.go.id on 29 Maret 2019. was held at the Ministry of SOEs, 13th Floor Meeting The GMS minutes have also been posted on the Room, Jalan Medan Merdeka Selatan No. 13 Central Company website (www.ap1.co.id). Jakarta. Invitation to the GMS regarding Approval

Resolutions of General Meeting of Shareholders to Approve the Annual Report and Ratify the Company’s Financial Statements for the Financial Year 2018 and its Realization Agenda Item 1 Approval of the Annual Report and Ratification of the Consolidated Financial Statements of the Company for the Financial Year 2018, Approval of the Report of the Supervision of the Board of Commissioners, and Grant Full Release and Discharge (volledig acquit et decharge) to the Board of Directors on the Management of the Company and Board of Commissioners for the Supervision during Financial Year 2018. Resolutions To Approve the Annual Report and Ratify the Consolidated Financial Statements of the Company for the Financial Year 2018 and to Approve the Supervision Report of Board of Commissioners for the Financial Year 2018 as audited by the Public Accounting Firm Purwantono, Sungkoro and Surja, with the following points: a. Consolidated Profit and Loss Statement

Description million rupiah

Operating Income 8.521.087,31

Operating Expenses 5.604.292,59

Business Income 2.916.794,72

Non-Operating Income (Others) 93.733,02

Income Before Tax 2.823.061,70

Income Tax 817.143,54

Net Profit for the Year 2.005.918,16

Other Comprehensive Income (71.104,03)

Total Comprehensive Income for the Year 1.934.814,13

Profit Attributable to

Owners of Parent Entity 2.007.018,32

Non-Controlling Interest (1.100,16)

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b. Statement of Financial Position

Description million rupiah

Assets

Current Assets 5.115.606,41

Non-Current Assets 26.439.309,21

Total Assets 31.608.915,62

Liabilities and Equity

Current Liabilities 7.614.989,55

Non-Current Liabilities 8.941.701,40

Equity 15.052.224,67

Total Liabilities and Equity 31.608.915,62

c. Company Performance Level

Soundness Level Healthy (AA), Score of 90.50

KPI Score 113,06

Agenda Item 2 To Approve and Ratify the Partnership and Community Development Program 2018 Report which was audited by the Public Accounting Firm Purwantono, Sungkoro & Surja on March 20, 2019 and to grant release and discharge (volledig acquit et de charge) to the Board of Directors and Board of Commissioners for its management and supervision of the Partnership and Community Development Program FY 2018. Resolution a. Statement of Financial Position

Description million rupiah

Assets

Current Assets

Cash and Bank 262,96

Loan receivables from assisted partners 48.039,10

Receivables from loans administration 300,62

Non-current assets

Net fixed assets 1.803,92

Total Assets 50.406,60

Liabilities and Net Assets

Current Liabilities 492,74

Net Assets 49.913,86

Net Liabilities and Assets 50.406,60

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b. Activity Report

Description million rupiah

Income from receivables administration 3.350,15

Interest income 77,42

Total Income 3.427,56

Disbursement of community development funds 3.131,13

Administrative and general expenses 11,58

Depreciation of fixed assets 580,34

Allowance for Impairment Loss on Receivables 5.249,15

Total Expenses 8.927,21

Decrease in Unrestricted Net Assets in Current Year (5.544,65)

Net Assets at Beginning of Year 55.458,50

Net Assets at End of Year 49.913,86 c. Disbursement Effectiveness Rate: 99.03% (Score of 3) d. Accounts Receivable Collectability Level: 65% (Score of 2)

Status: Realized Agenda Item 3 Determination of the use of consolidated net profit attributable to the Owners of Parent Entity in the Financial Year 2018. Resolution To determine the use of the Company’s Net Profit for the Financial Year 2018 amounting to 2,007,018,315,308 as follows: • Dividend ammonted to Rp 461,614,212,520.84 or 23% • Reserve ammounted to Rp 1,545,404,102,787.16 or 77%

Status: Realized Agenda Item 4 Determination of Salary/Honorarium along with other facilities and allowances for members of the Board of Directors and Board of Commissioners of the Company for the Financial Year 2019, and bonuses for members of Board of Directors and Board of Commissioners over their performance during the Financial Year 2018. Resolution The amount of salary/honorarium along with facilities and other benefits in 2019 and bonuses in the Financial Year 2018 for members of the Board of Directors and Board of Commissioners of PT Angkasa Pura I (Persero) shall be determined separately. Status: Realized Agenda Item 5 Appointment of the Public Accounting Firm (KAP) to audit the Company’s Financial Statements and the Financial Report of the Partnership and Community Development Program for the Financial Year 2019.

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Resolution a. Reappoint the Public Accounting Firm of Purwantono, Sungkoro & Surja (Ernst & Young) as the auditor to audit the Company’s Consolidated Financial Statements and the Financial Statements of the Partnership and Community Development Program for Financial Year 2019 b. Delegate authority to the Board of Commissioners to determine the appropriate fees for audit services and other appointment requirements for the public accounting firm Status: Realized

Directives of AGM to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2018 and Its Follow-Up

No Directive Follow-Up

1. All findings, notes and suggestions/ • KAP: recommendations from the Auditors (KAP Internal Control and compliance with Laws and Regulations and BPK-RI) in 2018 and previous years that for the Financial Year 2018 have been completed in the same have not been completed shall be prioritized year at the time of the KAP Audit. and completely followed up by the Board of • BPK: Directors in 2019. Findings and recommendations of BPK have not been completed and are currently in the process of completing the follow-up.

2. The Board of Directors is requested to submit Has submitted the financial statement and financial statement the Company Financial Statement and of the company’s PKBL for the Fiscal Year 2019 on February 29, Financial Statement of PKBL for Financial Year 2020, through the Portal, and was in accordance with the target 2019 as audited by the Public Accounting Firm of submitting the financial statements based on confirmation to the Minister of SOEs, no later than February with the Ministry of SOEs. 15, 2020.

3. To support the government policy of The Board of Directors has conducted internal socialization establishing a holding SOE entity on Aviation and formed a special team to handle the preparation of the Facilities and Infrastructure, the Board of establishment of holding SOE for the smooth preparation Directors is requested to internally disseminate process for the establishment of holding SOE. information and conduct other preparatory measures to ensure a smooth implementation process.

4. Related to the application of Statements of Management has carried out an analysis and mitigation of risks Financial Accounting Standards (PSAK) 71, to the business and financial statements of the company by 72, and 73 effective from January 1, 2020, the appointing an assisting consultant in the implementation of Board of Directors is requested to carry out PSAK 71.72, and 73. early preparations and analyze and mitigate their impacts on the company’s business and financial statements.

5. In order to support the Government in realizing The Board of Directors has prioritized the implementation of National Strategic Projects and improving airport construction in accordance with the target with due connectivity, the Board of Directors under the regard to applicable regulations. supervision of the Board of Commissioners is required to focus and prioritize the implementation of airport construction in accordance with the target with due regard to applicable regulations.

6. By taking into account the investment PT Angkasa Pura I (Persero) has conducted an evaluation for the outcomes in 2018, the Board of Directors enhancement and improvement the investment program in is requested to evaluate the obstacles and 2019, including: problems faced for the improvement and 1. Non-binding auction enhancement, so that the investment 2. Accelerating the implementation of the physical realization program in 2019 can be achieved. of the multiyears program in the previous year.

7. Kinerja anak perusahaan agar terus Pada tahun 2019, Anak Perusahaan memberikan kontribusi dioptimalkan sehingga dapat meningkatkan laba sebesar Rp146.000.000.000 kepada Angkasa Pura I Group nilai perusahaan serta memberikan kontribusi dan Anak Perusahaan telah menunjang bisnis Induk antara lain serta menunjang kinerja dan bisnis induk. dengan berkontribusi dalam pencapaian CSI (Customer

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Directives of AGM to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2018 and Its Follow-Up

No Arahan Tindak Lanjut

Satisfaction Index) di bandara – bandara PT Angkasa Pura I (Persero), mendukung operasional bandara – bandara baru dan bandara eksisting serta mengembangkan pasar di luar Angkasa Pura I Group.

8. Proactively coordinate with related institutions PT Angkasa Pura I (Persero) has coordinated and consulted to resolve the company assets issues related to intensely with relevant technical agencies to resolve the third parties. problems of company assets related to third parties, including the Ministry of SOEs, Ministry of Finance, Ministry of Transportation, Ministry of ATR/BPN, BPKP, Kejari/Kejati, Secretariat of Vice President (Setwapres), Regional Office/Land Office of BPN.

9. The Board of Directors is requested to continue The Board of Directors has strived to improve company to strive to improve company performance, performance, among others through revenue enhancement among others through creation of an effective measures, effective and productive modern organizational and productive modern organizational culture, culture, improvement of professional human resources quality to improve the quality of professional human and prioritizing service excellence in airport management in resources and promote service excellence accordance with international standards. in managing airports in accordance with international standards.

10. The function and role of the SPI shall be To monitor the follow-up of findings from respective Branch further optimized in monitoring and following Office, the Company submittted regular follow-up updates up audit findings and in building an early from the Branch Office every 5th of the month, which were warning system, so that violations/ fraud can then verified by respective Auditor. The early warning system be prevented or detected early. was realized through the provision of consulting services by SPI in 2019 with a separate consultation function from Operational Audit and Audit with Specific Purposes.

11. To improve the quality of supervision and PT Angkasa Pura I (Persero) has filled and updated data on the training of SOEs, the Board of Directors is Silaba, Assets, HR, PKBL web portals, and Public web portal in an requested to fill and update data on the Silaba, accurate and timely manner. Assets, HR, and PKBL web portals as well as the public web portal in an accurate and timely manner.

12. The Financial Report, PKBL Implementation Financial Statements, PKBL Implementation Report, Report, Performance Evaluation Report, Performance Evaluation Report, Compliance Report on Compliance Report on Laws and Regulations Laws and Regulations and Internal Control, Key Performance and Internal Control, Key Performance Indicator Assessment Report (KPI) audited by KAP, Minutes Indicator Assessment Report audited by of Meeting to Discuss the Partnership and Community Public Accounting Firm, Minutes of Meeting Development Program Report 2018 and responses of Board of to Discuss the Partnership and Community Commissioners are an integral part of the Minutes of Meeting. Development Program Report 2018 and responses of Board of Commissioners are an integral part of the Minutes of Meeting.

13. In carrying out the company’s operational In carrying out the company’s operational activities, the activities, the Board of Directors and all ranks Board of Directors and all ranks have been guided by the are requested to always be guided by prevailing prevailing laws and regulations and have consistently applied laws and regulations and to consistently apply the principles of Good Corporate Governance. This is in the principles of Good Corporate Governance . accordance with the Circular Letter of the Board of Directors of PT Angkasa Pura I (Persero) According to Circular Letter Number ED.32/OM.04/2019/DU concerning Instructions for the Implementation of Good Corporate Governance Principles in PT Angkasa Pura I (Persero).

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Implementation of GMS on Company Work was circulated to Shareholders through Letter Plan & Budget for Financial Year 2018 and No. AP.I.95/KU.01.03/2018 dated January 8, 2018. its Realization All members of the Board of Commissioners and On January 10, 2018, the GMS on Company Work Board of Directors attended the GMS on Company Plan & Budget (RUPS RKAP) for Financial Year 2018 Work Plan and Budget 2018. Shareholders were was held at the Office of Ministry of SOEs, 9th Floor able to see the outcomes of GMS resolutions on Meeting Room, Jalan Medan Merdeka Selatan No. the website www.silaba.bumn.go.id beginning 13 Central Jakarta. Invitation to attend the GMS February 1, 2018. The GMS minutes have also been on Company Work Plan and Budget (RKAP) 2018 posted on the Company website (www.ap1.co.id).

Resolutions of GMS on Company Work Plan & Budget Financial Year 2018 Agenda Item 1 Ratification of the Company Work Plan and Budget (RKAP) for Financial Year 2018. Resolutions To ratify the Company Work Plan & Budget for Financial Year 2018 with the following points: a. Consolidated Financial Statement The Consolidated Financial Statement of PT Angkasa Pura I (Persero) for Financial Year 2018 was targeted to have Total Assets amounting to Rp 38,712,753 million or an increase of 55.4% from the 2017 prognosis, with details as follows:

Assets

Current Assets Rp 3.889.066 million

Non-Current Assets Rp 34.823.687 million

Total Assets Rp 38.712.753 million

Liabilities and Equity

Current Liabilities Rp 2.880.142 million

Non-Current Liabilities Rp 21.464.765 million

Equity Rp 14.367.846 million

Total Liabilities and Equity Rp 38.712.753 million

b. Consolidated Profit and Loss Statement The Consolidated Profit and Loss of PT Angkasa Pura I (Persero) for FY 2018 was targeted to have Attributable Profit of Rp 1,565,180 million or an increase of 19.1% of the 2017 prognosis, with the following detailed calculations:

Revenue Rp 8.560.498 million

Operating Expenses Rp (6.188.761) million

Business Profit (Loss) Rp 2.371.737 million

Other Income (Expenses) Rp (296.712) million

Share in Profit of Associates Rp (3.500) million

Profit (Loss) Before Tax Rp 2.071.525 million

Income Tax Rp (504.193) million

Net Profit (Loss) of Current Year Rp 1.567.332 million

Non-Controlling Interest Rp (2.152) million

Attributable Profit (Loss) Rp 1.565.180 million

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c. Investment Operational Rp 3.959.961 million Development Rp 14.841.814 million Total Rp 18.801.775 million d. Human Resources Core Employees : 3.531 persons Outsourced Employees : 5.643 persons Total : 9.174 persons e. Corporate Soundness Level The targeted soundness level score of the Company Work Plan & Budget (RKAP) 2018 according to calculations based on Minister of SOE Decree No. KEP-100/MBI/2002 is 92.0 or Category of AA (Healthy). f. RKA of Board of Commissioners To ratify the Board of Commissioners’ Work Plan & Budget as stated in RKAP 2018 book of PT Angkasa Pura I (Persero).

Status: Realized Agenda Item 2 Ratification of the Work Plan and Budget for the Partnership and Community Development Program (RKA-PKBL) for Financial Year 2018. Resolution To ratify the Work Plan and Budget for the Partnership and Community Development Program in 2018, as follows: a. Partnership Program

Opening Balance Rp 0 million Loan Repayments by Assisted Partners Rp 26.098 million Revenue from Loan Administration Rp 4.836 million Other Revenue Rp 81 million Other Income Rp 0 million Expenses Allocation from Fostering SOE Rp 0 million Total of Available Services Rp 31.016 million Disbursement of Fund and Operational Cost Loan Disbursement to Assisted Partners Rp 27.031 million Disbursement through other Fostering SOEs Rp 0 million Disbursement of MB Development Funds (Grant) Rp 3.984 million Total Disbursement of Funds and Operational Costs Rp 31.016 million Fund Balance per 31 December Rp 0 million

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b. Community Development Program

Available Funds Opening Balance Rp 0 million Expenses Allocation of the Company Rp 34.764 million Total Available Funds Rp 34.764 million Disbursement of Funds Disbursement of Community Development Funds Rp 34.764 million Fund Balance per 31 December Rp 0 million

Status: Realized Agenda Item 3 Approval and Ratification of the Management Contract (Key Performance Indicator) between the Board of Directors and the Board of Commissioners with Shareholders for 2018. Resolution To approve and ratify the Management Contract (Key Performance Indicators) for 2018 between the Board of Directors and Board of Commissioners of PT Angkasa Pura I (Persero) with Shareholders, which refers to the Assessment Criteria for Performance Excellence (KPKU) and Minister of SOE Letter No. S-487/MBU/08/2017 dated August 31, 2017 concerning Submission of Shareholders/ Owners’ Aspirations for Compilation of the Company Work Plan and Budget Financial Year 2018.

Status: Realized Agenda Item 4 Approval and Ratification of Management Contract on Key Performance Indicators between the Board of Commissioners and Shareholders for 2018. Resolution To approve and ratify the Key Performance Indicators for 2018 between the Board of Commissioners and Shareholders of PT Angkasa Pura I (Persero), which refers to the Minister of SOE Regulation No. PER-01/MBU/2011 jo. No. PER-09/MBU/2012 dated July 6, 2012 concerning Amendment to Minister of SOE Regulation No. PER-01/MBU/2011 concerning Implementation of Good Corporate Governance Principles at SOEs.

Status: Realized Agenda Item 5 Determination of Operational Aspect Indicators for the Calculation of Soundness Level for 2019. Resolution To approve and ratify the determined Operational Aspect Indicators for the Assessment of Soundness Level of PT Angkasa Pura I (Persero) for 2019, as proposed by the Board of Commissioners.

Status: Realized Agenda Keenam Issuance of Bonds and/or Bank/Non-Bank Loans amounted to Rp 13.5 trillion. Resolution To approve the Issuance of Bonds and/or Bank/Non-Bank Loans amounting to Rp 13.5 trillion with the following provisions:

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a. Comply with all applicable regulations and provisions on issuance of bonds and Bank/Non-Bank loans, and with due regard to the principles of Good Corporate Governance. b. The plan execution shall be carried out in a prudent manner, and to mitigate any potential risks with respect to the legal, operational and financial aspects of the company. c. Issuance of bonds shall consider the factors of appropriate timing and tenor as well as taking into account potential risks, especially default risk. d. The Board of Commissioners shall supervise, evaluate and monitor the issuance of bonds and Bank/Non-Bank loans on a regular basis, considering that its value is highly material for the Company. e. Approval for the issuance of bonds and Bank/Non-Bank loans is for a period of 1 (one) year from the date of resolution.

Status: Realized Agenda Item 7 Approval of delegation of authority to the Board of Commissioners to make changes and reallocate program/activity budgets including changes with respect to addition/removal of investment programs/activities to a maximum of 10% of total investment in 2018 without changing the total investment value. Resolution To approve the delegation of authority to: a. Board of Directors to make changes and reallocate budgets between investment programs/ activities to a maximum of 10%. b. Board of Commissioners to approve changes with respect to addition/removal of programs/ activities between investment groups to a maximum of 10% of total investment in 2018 without changing the total investment value.

Status: Realized

Directives of GMS on Company Work Plan and Budget for Financial Year 2018 and Its Follow-Up

No Directive Follow-Up

1. RKAP Book, RKA-PKBL, RKA of Board RKAP Book, RKA-PKBL, RKA of Board of Commissioners and of Commissioners and KPI of Board of KPI of Board of Commissioners for 2018 which have been Commissioners for 2018 which have been approved and ratified by the GMS, as well as suggestions and approved and ratified by the GMS, as well as recommendations of the Board of Commissioners in executing suggestions and recommendations of the RKAP for 2018 as stated in the Response Letter of Board of Board of Commissioners in executing the Commissioners No. 01/DK.AP.1/2018 dated January 8, 2018, are RKAP for 2018 as stated in Response Letter of an integral part of the Minutes of the GMS Resolutions and Board of Commissioners No. 01/DK.AP.1/2018 serve as guidelines for the Board of Directors in carrying out the dated January 8, 2018, are an integral part of work program and performance targets in 2018, and a means of the Minutes of the GMS Resolutions and serve monitoring and supervision for the Board of Commissioners. as guidelines for the Board of Directors in carrying out the work program and achieving performance targets in 2018, and a means of monitoring and supervision for the Board of Commissioners.

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Directives of GMS on Company Work Plan and Budget for Financial Year 2018 and Its Follow-Up

No Directive Follow-Up

2. Under the supervision of Board of a. Board of Directors of PT Angkasa Pura I (Persero) has always Commissioners, the Board of Directors is strived to develop synergies between SOEs in accordance tasked to: with the targets by upholding GCG principles. a. Develop synergies between SOEs realized b. Board of Directors of PT Angkasa Pura I (Persero) have in accordance with the targets with due paid attention to the realized investment to improve the regard to GCG principles. Company’s performance, services to airport users and b. Pay attention and strive to achieve aviation safety and security, and support the National substantial investment value in order to Strategic Projects Program. support the improvements in company c. Board of Directors of PT Angkasa Pura I (Persero) has performance, services to airport users, prepared HR competency reqirements in accordance with aviation safety and security, and the the direction of the Company’s future development. National Strategic Projects Program. d. Under the supervision of Board of Commissioners, Board of c. Prepare HR competency requirements Directors has strengthen coordination with related agencies in accordance with the direction of the to resolve issues concerning Company assets, namely: Company’s future development. d. Strengthen coordination with related - Juanda Airport-Surabaya: The Human Resources and agencies to resolve issues concerning General Affairs Director briefly explained the land assets Company assets. issues at Juanda Airport-Surabaya to the Ministry of e. Continue to supervise and develop the Agrarian Affairs and Spatial Planning/National Land subsidiaries, so that corporate actions Agency (ATR/BPN) and the Ministry of SOEs in a can improve the Company’s performance coordination meeting with Ministry Officials of ATR/ and provide optimal contribution to PT BPN in Region related to Settlement of SOE Angkasa Pura I (Persero). Assets dispute in East Java. The meeting took place on December 21, 2018 in accordance with Ministry of SOEs Invitation No. Und-39/07.MBU.4/12/2018, and followed up by notifying the Director General of Land Acquisition of ATR under Letter No. AP.I.626/HK.08.08/2019/ DP-B dated January 23, 2019 related to submission of supporting data in the form of Minister of Finance Decree of the Republic of Indonesia No. 592/ KM.6/2015 concerning Determination of Status of Utilization of State-Owned Assets at the Ministry of Defense. - Perum LPPNPI: a meeting was held to discuss the imposition of rental rates for land and space to Perum LPPNPI. PT Angkasa Pura I (Persero) was represented by the Director of Services and Marketing together with representatives of the Ministry of SOEs, Perum LPPNPI and PT Angkasa Pura II (Persero). The Company continues to supervise and develop its subsidiaries, so that corporate actions can improve Company performance and provide optimal contribution to its development.

3. In order to better manage systematic talent a. PT Angkasa Pura I (Persero) has performed the function management functions, ensure availability of talent management system to enter talent pool in the and readiness of talents for Sustainable Ministry of SOE and prepared the candidates of Board of Growth of SOEs, maintain accountability and Directors. transparency in the selection of candidates for b. 7 (seven) members of Board of Directors of PT Angkasa Pura SOE Directors, and increase the attractiveness I (Persero) or all members of Board of Directors have been of SOEs in retaining and/or developing the registered to enter talent pool in the Ministry of SOE.. best existing talents, the Board of Directors is c. A total of 56 candidates for Board of Directors from BOD-1 tasked to support and commit to: have been prepared, and 17 candidates have been registered a. Organize a talent management system or 30%. A total of 6 candidates have the minimum score of while preparing the Company’s talent to 2.83. 39 candidates remain unregistered, while 11% have met be part of the talent pool in Ministry of the requirements. SOEs. b. Provide talent pool in all SOEs of at least 20%. c. Prepare candidates for Board of Directors from officials one level below (BOD-1), of 3 successors per BOD position.

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Directives of GMS on Company Work Plan and Budget for Financial Year 2018 and Its Follow-Up

No Directive Follow-Up

4. Performance bonuses/incentives represent Has been budgeted in accordance with the directives of GMS. a cost that must be specifically budgeted in the RKAP 2018 and its realization is subject to performance target achievement 2018 as decided in the Annual GMS.

5. In order to implement the partnership and a. SOP for adjusting to the SOE Regulation is as follows: community development program of SOE Board of Directors Decree of PT Angkasa Pura I (Persero) No. with small businesses, the following issues KEP.239/KU.12/2017 dated December 20, 2017 concerning need to be considered: Amendment to Board of Directors Decree of PT Angkasa Pura a. a. The Board of Directors shall determine I (Persero) No. KEP.103/KU.12/2017 concerning Guidelines for the SOP for executing the Partnership Partnership and Community Development Program of PT and Community Development Program Angkasa Pura I (Persero). to adhere to Minister of SOEs Regulation b. Implementation of all PKBL activities has been in accordance No. PER-02/MBU/07/2017 concerning with the study of RKA 2018, except on collectibility Second Amendment to Minister of SOEs achievement where the realization of collectibility in 2018 Regulation No. PER-09/MBU/07/2015 was 74.54% as against a target of 80% stated in the study. concerning Partnership and Community Development Program at SOEs. b. In order to implement PKBL, attention shall be paid to the study of RKA PKBL 2018 of PT Angkasa Pura I (Persero).

6. The findings, notes and recommendations The findings, notes and recommendations of the Board of of the Board of Commissioners, Internal Commissioners, Internal Auditors and External Auditors of the Auditors and External Auditors of the Financial Financial Statements in the previous year were followed up by Statements in the previous year shall be the Board of Directors and submitted to the State Audit Board followed up thoroughly by the Board of (BPK) for approval. Directors in 2018.

Implementation of GMS to Approve the Board Directors attended the event upon receiving Annual Report and Ratify the Company’s Invitation Letter No. AP.I.2495/KU.01.03/2018 dated Financial Statements for Financial Year April 20, 2018 concerning the General Meeting 2017 and its Realization of Shareholders to Approve the Annual Report In 2018, the GMS to Approve the Annual Report and Ratify the Company’s Financial Statements and Ratify the Company’s Financial Statements for Financial Year 2017. On February 15, 2018, the for Financial Year 2017 was held on April 24, 2018 GMS resolutions were submitted to Shareholders at the Ministry of SOEs, 13th Floor Meeting Room, through the website www.silaba.bumn.go.id and Jalan Medan Merdeka Selatan No. 13, Jakarta. All the GMS minutes were posted on the Company members of the Board of Commissioners and website (www.ap1.co.id).

Resolutions of General Meeting of Shareholders to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2017 Agenda Item 1 Approval of the Annual Report and Ratification of the Company’s Financial Statements for Financial Year 2017, Approval of the Supervisory Report of the Board of Commissioners and Ratification of the Financial Statement of Partnership and Community Development Program for Financial Year 2017 t, and Grant Release and Discharge (volledig acquit et decharge) to the Board of Directors for the Management of the Company and Board of Commissioners for the Supervisory Actions during Financial Year 2017. Resolution To Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2017, to Approve the Supervisory Report of Board of Commissioners, and to Ratify the Financial Statement of Partnership and Community Development for Financial Year 2017 as audited by the Public Accounting Firm Djoko, Sisik and Indra, with the following points:

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a. Consolidated Profit and Loss Statement Consolidated Net Profit for Financial Year 2017 amounted to Rp 1,420,353,052,438 with details of profit as follows:

Operating Income Rp 7.194.348

Operating Expenses Rp 5.306.848

Business Income Rp 1.887.500

Non-Operating Income (Others) Rp (98.003)

Income Before Tax Rp 1.789.497

Income Tax Rp 369.144

Net Profit for Current Year Rp 1.420.353

Other Comprehensive Income Rp 126.939

Total Comprehensive Income for Current Year Rp 1.547.292

Profit Attributable to

Owners of Parent Entity Rp 1.418.577

Non-Controlling Interest Rp 1.776

Total Attributable Profit Rp 1.420.353

b. statement of Financial Position Total Assets or Liabilities and Equity as of 31 December 2017 amounted to Rp 25,051,809,830,022 with details as follows:

Assets

Current Assets Rp 5.897.001

Non-Current Assets Rp 19.154.809

Total Assets Rp 25.051.810

Liabilities and Equity

Current Liabilities Rp 4.268.030

Non-Current Liabilities Rp 7.382.319

Equity Rp 13.401.461

Total Liabilities and Equity Rp 25.051.810 c. management Contract (KPIs) Realization of the Management Contract 2017 is as follows:

No Description Score

1 Finance and Markets Perspective Non-Aeronautical 2,65 Revenue Growth

EBITDA 6,22

Operating Ratio 6,11

Duty Free Sales per 5,41 Passengers

2 Customer Focus Perspective Customer Satisfaction 8,40 Index

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No Description Score

Level of Service:

a. Aircraft Landing, Parking and Aircraft Storage Services

1) Skid Resistance 1,05

2) Response Time of Aircraft Rescue and Fire 1,00 Fighting Facility

3) Availability of Airfield Lighting Serviceability 1,04

b. Air Passenger Services

1) Baggage Handling Performance

i. Delivery of First Baggage 0,53

ii. Delivery of Last Baggage 0,53

2) Passenger and Goods Security Check at the Terminal

i. Normal Conditions 1,00

ii. Special Conditions 1,00

3) General Facilities – Terminal Air Conditioning 1,05

Product Innovation to Customers 7,35

3 Effectiveness of Products and Suitability of Capital Expenditure (Total Capex): Processes Perspective a. Realization of Investment Program 2,92

b. Physical Investment 1,38

Implementation of SOEs Roadmap on Connectivity Sector 4,38

Implementation of Synergies Between SOEs 5,00

Increase Number of Cargo Capacity and Handling 5,25

4 Workforce Focus Perspective Average Individual KPI 8,99

Employee Satisfaction Index 8,00

5 Leadership, Governance GCG Implementation Score 3,10 and Social Responsibility Perspective Assessment Criteria for Performance Excellence (KPKU) 3,12 Implementation Score

Effectiveness PKBL Disbursements 4,80

Electronic Report Submission 6,15

Total 96,43 d. realization of Investment Realization of Investment in Financial Year 2017 is as follows:

No Description Total

Routine

1 Flight Safety/Security Services 503.899

2 Services 492.389

3 Income 663.689

Non-Routine

4 Airport Development 750.243

Total 2.410.220

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e. Human Resources Realization of Human Resources for Financial Year 2017 is as follows:

No Description Total

1 Permanent Employees 3.350

2 Non-Permanent Employees 5.378

Total 8.728

f. statement of Financial Position of Partnership and Community Development Program

Description Total

Assets

Cash and Cash Equivalents 663.451

Receivables from Disbursements to Other SOEs 5.000.000

Net MB Loan Receivables 47.512.786

Other Receivables 385.791

Net Fixed Assets 2.384.264

Total Assets 55.916.292

Liabilities and Net Assets

Liabilities 457.787

Net Assets 55.458.505

Total Liabilities and Net Assets 55.916.292

g. Activity Report of Partnership and Community Development Program

Description Total

Revenue

Profit Allocation from Fostering SOE 4.059.477

Income

Loan Administration Income 4.004.018

Interest Income 282.582

Other Income 280.701

Total Income 8.626.778

Disbursement of Partnership Program Fund 2.763.270

Disbursement of Community Development Fund 7.858.054

Administrative Expenses of Partnership and Community Development Program 16.765

Depreciation of Fixed Assets 599.317

Allowance for Impairment Loss 722.376

Total Disbursement and Expenses 11.959.782

Increase (Decrease) of Net Assets (3.333.004)

Net Assets at Beginning of Period 58.791.509

Net Assets at End of Period 55.458.505

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h. Company Performance Level Assessment of the Company’s soundness level is based on the Minister of SOE Decree No. KEP- 100/MBU/2002 concerning Soundness Level of SOEs, with the following details:

Aspect Realization of Weighted Score

A. Financial Aspect 44,50

B. Operational Aspect 33,00

C. Administrative Aspect 15,00

Total 92,50 “HEALTHY AA”

To grant full release and discharge (volledig acquit et decharge) to the members of Board of Directors for the Management of the Company and Board of Commissioners for the supervisory actions, as well as for the management and supervision of the Partnership and Community Development Program executed during Financial Year 2017, with the following provisions: • As long as the actions performed are not deemed to be criminal or do not violate applicable legal procedures, and • These actions are recorded and reported in the Annual Report, the Financial Statements of the Company and the Financial Statement of Partnership and Community Development Program for Financial Year 2017.

Status: Realized Agenda Item 2 Determination of Use of Company’s Net Profit for Financial Year 2017. Resolution To approve the use of the company’s consolidated net profit attributable to Owners of Parent Entity for Financial Year 2017 amounting to Rp 1,418,577,150,922, as follows: • Dividend amounted to Rp 283,716,000,000 or 20%. • Reserve amounted to Rp 1,134,861,150,922 or 80%.

Status: Realized Agenda Item 3 Determination of the Remuneration of Board of Directors and Board of Commissioners. Resolution Amount of salary/honorarium along with facilities and other benefits in 2018 and bonuses in Financial Year 2017 for members of the Board of Directors and Board of Commissioners of PT Angkasa Pura I (Persero) shall be determined separately.

Status: Realized Agenda Item 4 Appointment of the Public Accounting Firm (KAP) to audit the Company’s Financial Statements and the Financial Statements of the Partnership and Community Development Program for Financial Year 2018. Resolution a. Delegate authority to the Board of Commissioners to tender the appointment of an internationally affiliated Public Accounting Firm to audit the Company’s Financial Statements and the Financial Statements of the Partnership and Community Development Program for Financial Year 2018. b. Report the outcomes of the public accountant firm (KAP) tender to the Minister of SOEs for determining the winning KAP to audit Financial Statements and PKBL Implementation Report for Financial Year 2018.

Status: Realized

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Directives of AGM to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2017 and Its Follow-Up

No Directive Follow-Up

1. All findings, notes and suggestions of the Board The Board of Directors has sought to ensure that the same of Commissioners, Internal Audit Unit, and findings are not repeated in the future and the follow-up External Auditors on the Financial Statements outcomes have been reported to the Board of Commissioners for Financial Year 2017 must be followed up and Shareholders. completely by the Board of Directors in 2018. The Board of Directors shall strive to ensure that the same findings are not repeated in future and the follow-up outcomes shall be reported to the Board of Commissioners and Shareholders.

2. Submit the Company’s Annual Report, Has submitted the Company’s Annual Report, including the including the Financial Statements for Fiscal Financial Statements for Financial Year 2018 as audited by the Year 2018 as audited by the Public Accounting Public Accounting Firm to the Minister of SOEs no later than Firm to the Minister of SOEs, no later than February 15, 2019. February 15, 2019.

3. With regard to the Letter of Board of Directors The Board of Directors has prepared a study including the duties No. AP.I.2264/OM.04/2018/DU dated April 11, and functions as well as workload of each Directorate. The results 2018 concerning Change in Nomenclature of of the study were set forth in the Board of Directors Decree positions of PT Angkasa Pura I (Persero) Board No. KEP.101/OM.01.01/2018 concerning Organization and Work of Directors, the Board of Directors is tasked Procedures at Head Office of PT Angkasa Pura I (Persero). to prepare a study including, among others, duties and functions, workload of respective Directorates and the response of the Board of Commissioners, and then to be conveyed in a separate letter to obtain a resolution from Shareholders.

4. With respect to development of the National Airport construction project has been carried out in accordance Strategic Project, under the supervision of with the predetermined schedule with due regard to applicable Board of Commissioners, the Board of Directors regulations. is tasked to carry out construction activities in accordance with the predetermined schedule with due regard to applicable regulations.

5. Evaluate investment realization in 2017 to All work units at PT Angkasa Pura I (Persero) have evaluated the become the basis for enhancing investment investment realization in 2017 to increase investment realization realization in accordance with the 2018 in 2018, and to encourage growth and enhance the Company’s investment program, and to encourage growth performance to support the acceleration of national economic and increase the Company’s performance to development in the future. support the acceleration of national economic development in the future.

6. Assets under Government Assistance with With respect to completion of the transfer of BPYBDS assets to Indeterminate Status (BPYBDS) in the purpose Perum LPPNPI as State Capital Participation of Perum LPPNPI, a of status transformation to Perum LPPNPI by Meeting among related Ministries on Improving the Joint Study the Ministry of Transportation, and unrealized Concept and Draft Regulation on SCP of Perum LPPNPI (BPYBDS assets of PT Angkasa Pura I (Persero) shall of the Ministry of Transportation i.e. ex assets of PT Angkasa Pura become part of State Capital Participation I (Persero) and PT Angkasa Pura II (Persero)) was held on January of Perum LPPNPI. In this case, the Board of 18, 2019. The participants included Perum LPPNPI, Ministry of Directors is tasked to continuously coordinate Finance, Ministry of Transportation, Ministry of SOEs and the with related parties for completion of the Ministry of Law and Human Rights. The meeting outcomes are to process (Ministry of Transportation, Ministry of be complemented with a Ministry of Finance study related to the Finance, BPKP). transfer mechanism of BPYBDS assets, and a planned follow up meeting on February 8, 2019 in Yogyakarta as per Perum LPPNPI Invitation No. UND.KRT.01.05/00/LPPNPI/02/2019/212.

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Directives of AGM to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2017 and Its Follow-Up

No Directive Follow-Up

7. Optimize the development of subsidiaries, To enhance value creation, PT Angkasa Pura I (Persero) has so that corporate actions undertaken can provided guidance to its subsidiaries through strategic directives improve the Company’s performance. to achieve targets and improve performance both financially and operationally. In addition, the Company conducted an analysis on the performance of the subsidiaries and provided suggestions on corrective measures, and evaluated the performance of business activities.

8. Resolve all problems with respect to Company The progress in resolving problems related to Company assets assets relating to third parties (including with third parties is as follows: the Indonesian military (TNI), Ministry of 1. Indonesian Military (TNI): Transportation and Perum LPPNPI). a. SUB: a coordination meeting was held with officials of the Ministry of Agrarian Affairs and Spatial Planning/ National Land Agency (ATR/BPN) of East Java Region in relation to Resolving Troubled SOE Assets in East Java on December 21, 2018 in accordance with Invitation of Ministry of SOEs No. Und-39/07.MBU.4/12/2018. The latest progress is the compilation of a comprehensive evaluation or study related to resolution of the Double Account problem according to the directives of Legal Bureau Team of the Ministry of SOEs on January 24, 2019. b. DPS, BPN and MDC: a meeting on the Draft Cooperation Agreement between PT Angkasa Pura I (Persero) and the Indonesian Air Force (TNI AU) at MDC, BPN and DPS airports was held on January 29, 2018 in accordance with Meeting Invitation Letter of PT Angkasa Pura I (Persero) No. AP.I.609/HK.06/2019/DP-B. The latest update involves revision of the Draft Cooperation Agreement with the Indonesian Air Force (TNI AU) on Land Use. c. LOP: it is currently the phase of measuring the land area to be used by TNI AU. d. SRG: it is currently in the phase of evaluation and discussion related to the transfer of the old terminal assets to TNI AD. e. JOG and SOC: it is currently in the phase of reviewing the calculation of proposed amount of fixed contributions to be provided to TNI AU. 2. Ministry of Transportation: with respect to rental payments on State-Owned Assets at UPG and SUB, the draft Cooperation Agreement is under discussion. 3. Perum LPPNPI: a. Related to imposition of land and space rent amount, follow-up discussions are being held with the Ministry of SOEs and Perum LPPNPI. b. Related to the transfer of navigational assets under Phase II, several Perum LPPNPI Branch Offices have not agreed to the outcomes of the asset inventory.

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Directives of AGM to Approve the Annual Report and Ratify the Company’s Financial Statements for Financial Year 2017 and Its Follow-Up

No Directive Follow-Up

9. Enhance airport management in order to In an effort to improve overall airport management performance, improve overall performance, especially on especially the non-aeronatical business in accordance with non-aeronautical business in accordance international standards, PT Angkasa Pura I (Persero) has with international standards. Related to implemented world-class company management principles airport operations that are running at a loss, a under good corporate governance, improved the Company’s comprehensive evaluation and improvement service excellence and profitable revenue, and enhanced shall be performed in order not to burden the the efficiency and effectiveness of the Company’s resources, Company in a consolidated manner. including human resources, systems, organization structure and facilities. As for airport operations that are still running at a loss, PT Angkasa Pura I (Persero) has taken measures, among others, to develop its non-core business through the establishment/ development of subsidiaries to optimize business revenue, especially non-aeronautical revenue and to change the business model with subsidiaries.

10. Comply with and implement the provisions, PT Angkasa Pura I (Persero) has complied and implemented legal procedures and the Articles of Association the provisions, legal procedures and Articles of Association and and risk management judiciously in all risk management judiciously in all Company acitivities based on Company activities based on Good Corporate Good Corporate Governance (GCG) principles. Governance (GCG) principles.

11. Improve compliance/updates information on PT Angkasa Pura I (Persero) continues to update information the asset, Financial Information System (FIS), on the assets, Financial Information System (FIS), HR, PKBL, and HR, PKBL and Integrated Talent Management Integrated Talent Management System (ITMS) portals as well as System (ITMS) portals and the public the public website. website. In connection with improving the quality of supervision and mentoring of the Company, the Board of Directors and Board of Commisioners is tasked to prioritize the update, accuracy and completeness of data at the portals.

12. The Financial Report, PKBL Implementation The Financial Report, PKBL Implementation Report, Performance Report, Performance Evaluation Report, Evaluation Report, Compliance Report on Legislation and Compliance Report on Legislation and Internal Control, Key Performance Indicator Assessment Internal Control, Key Performance Indicator Report audited by Public Accounting Firm Djoko, Sidik & Indra, Assessment Report audited by Public Minutes of Meeting to Discuss the Partnership and Community Accounting Firm Djoko, Sidik & Indra, Minutes Development Program Report 2017 and responses of Board of of Meeting to Discuss the Partnership and Commissioners are an integral part of the Minutes of Meeting. Community Development Program Report 2017 and responses of Board of Commissioners are an integral part of the Minutes of Meeting.

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Board of Commissioners

The Board of Commissioners of PT Angkasa Pura on the criteria stated in the Work Procedures of I (Persero) is responsible to perform the duties of Board of Directors and Board of Commissioners supervision and provision of advices to the Board (Board Charter/ Board Manual). Currently, all of Directors related to the implementation of the members of the Board of Commissioners have Company’s business and compliance with GCG met the required criteria, which are as follows: principles. This is in accordance with the provisions a. Formal criteria, namely: of Law No. 19 of 2003 concerning State-Owned • Competent in taking legal actions; Enterprises and Law No. 40 of 2007 concerning • Not been declared bankrupt, and was never Limited Liability Companies, Articles of Association, a member of Board of Directors or Board and other regulations. of Commissioners found responsible for causing a Company to go bankrupt, and In carrying out its duties, the Board of Commissioners have never been convicted of a crime that is responsible to the Shareholders. PT Angkasa Pura caused state loss in the period of 5 (five) I (Persero) also guarantees that all members of years prior to his appointment; the Board of Commissioners possess the integrity, • Not having a family relationship or knowledge, ability, and commitment to fulfill their relationship by marriage up to the third duties, functions and responsibilities effectively, degree, either vertically or horizontally to precisely, and quickly. The Board of Commissioners the side or relationship by marriage (or must be able to act independently, have no conflict son- in-law) with members of the Board of of interest, either between members or members Commissioners and/or other members of of the Board of Directors, which can interfere with the Board of Directors; the performance of their duties. • Not holding a concurrent position as member of the Board of Directors on Board Charter of Board of State-Owned Enterprises, Region-Owned Commissioners Enterprises, Private Enterprises, and other The Board Charter/Board Manual of the Board positions in accordance with the provisions of Commissioners is contained in a Joint Decree of legislation, organizers of political of the Directors and Board of Commissioners of party and/or candidate/member of the PT Angkasa Pura I (Persero) Number KEP.144/ legislature and/or candidate/member of OM.01/2019 KEP.06/DK.AP.I/2019 concerning the Regional Head/Deputy Head of the Guidelines for the Work Procedures of Directors Region, as well as other positions that may and Board of Commissioners. In general, the Board give rise to a conflict of interest; Charter of the Board of Commissioners regulates • Committed to provide sufficient time in the following matters: order to perform its functions. 1. Requirements and Composition of the Board b. Material criteria, namely: of Commissioners. • Have integrity, that never never been 2. Responsibilities of the Board of Commissioners. directly or indirectly involved in the 3. Duties and Obligations of the Board of misconduct or illegal practices, given false Commissioners. promises, and other acts that have harmed 4. Authority of the Board of Commissioners. the company in which the concerned is 5. Rights of the Board of Commissioners. working or has worked; 6. Code of Conduct. • Understand of the Company’s 7. Meetings of the Board of Commissioners. management issues related to one of the 8. Committees of the Board of Commissioners. management functions; 9. Secretary of the Board of Commissioners. • Have adequate knowledge in the company business field. Criteria for Board of Commissioners Membership Members of Board of Commissioners of PT Angkasa Pura I (Persero) are selected and appointed based PT Angkasa Pura I (Persero) Laporan Tahunan 2019 293 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Duties and Responsibilities of the Board 11. To establish a policy governing the discussion of Commissioners of signs of a decline in company performance, In general, the main duties of the Board of provide advice to the Board of Directors to Commissioners include the following: fix problems resulting in declining company 1. To comply with the Articles of Association, performance, and to report to the GMS laws and regulations, and the principles of should there be signs of a decline in Company professionalism, efficiency, transparency, performance. independence, accountability, responsibility 12. To follow developments in Company activities, and fairness. provide opinions and suggestions to the 2. To carry out supervisory duties and provide GMS on issues deemed important to the advice to the Board of Directors under the management of the Company, and to report principles of good faith, prudence, and immediately to the GMS in case there are responsibility as per Company interests and in signs of a decline in Company performance. accordance with stated aims and objectives. 13. To provide opinions and recommendations 3. To supervise the Company’s management to the GMS on any other issues deemed and business policies as conducted by the important for the management of the Board of Directors, including supervising the Company. implementation of the Company Long-Term 14. To establish policies/ guidelines governing Business Plan (RJPP) and Work Plan & Budget the Board of Commissioners to supervise (RKAP) as well as the provisions of the Articles the Company’s compliance with laws and of Association, GMS Resolutions, and prevailing regulations, Articles of Association, and laws and regulations that affect the Company agreements and commitments made by the in accordance with stated aims and objectives. Company with third parties. 4. To advise the Board of Directors in the 15. To prepare the Board of Commissioners work management of the Company. plan that discusses the Board of Directors’ 5. To research and analyze periodic and annual compliance with prevailing laws and regulations, reports prepared by the Board of Directors and Articles of Association, and agreements and to sign off on the reports. commitments made by the Company with 6. To establish policies/mechanisms on providing third parties, and incorporate it into the Board of approval/response/opinion of the Board of Commissioners Annual Work Plan. Commissioners with respect to the draft RJPP 16. To undertake other obligations in order to and RKAP. supervise and provide advice, as long as it 7. To provide feedback and recommendations does not conflict with prevailing laws and to the GMS concerning RJPP and RKAP, on regulations, Articles of Association, and/or GMS reasons for for the Board of Commissioners in resolutions. signing off on RJPP and RKAP. 17. To establish policies and guidelines for 8. To establish the policies of Board of monitoring the implementation of GCG Commissioners to monitor the compliance of principles. Board of Directors in managing the Company 18. To develop a plan to scrutinize GCG RKAP and RJPP. principles and incorporate it in the Board of 9. To prepare a plan to conduct evaluation on Commissioners Annual Work Plan. the compliance of the Board of Directors in 19. To monitor and ensure the effectiveness of managing the Company in accordance with GCG practices adopted by the Company. RKAP and/or RJPP, and incorporate it into the 20. To establish a policy regarding the preparation Board of Commissioners Annual Work Plan. of the Board of Commissioners Annual Work 10. To supervise the execution of the Company’s Plan and Budget, and to prepare the Board Annual Work Plan and Budget and to submit of Commissioners work plan for the following the assessment results and opinions to the GMS. year.

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21. To establish a written policy on measuring and 12. To perform other supervisory authorities evaluating the performance of the Board of insofar as they do not conflict with the laws Commissioners, evaluating its achievements and regulations, the Articles of Association, and incorporating it into the minutes of and/ or GMS Resolutions. the Board of Commissioners’ Meeting, and 13. To receive honorarium and benefits/facilities to report the performance assessment in including post-employment allowance of the Implementation Report of the Board of the type and amount determined by the Commissioners’ Supervisory Duties. GMS, with due regard to applicable laws and regulations. Authority and Rights of the Board of 14. To obtain facilities from the Company in Commissioners accordance with the resolutions of the GMS. The Board of Commissioners has authorities and 15. To receive bonuses whose amount is rights related to the implementation of its duties, determined by the GMS if the Company which are as follows: reaches a certain profitability level or 1. To scrutinize books, correspondence and other experiences an increase in performance. documents and to check cash position and securities to verify and examine the Company Code of Conduct of the Board of assets. Commissioners 2. To enter the grounds, buildings, and offices In carrying out its duties, the Board of used by the Company. Commissioners must always adhere to the 3. To request clarification from the Board of following code of conducts of the position: Directors and/or other officials regarding the 1. Members of the Board of Commissioners are management of the Company. prohibited from undertaking actions that 4. To obtain complete information on policies have a conflict of interest, or derive personal and actions that have been and are to be benefits from making decisions and/or carried out by the Board of Directors. carrying out Company activities, other than 5. To request the Board of Directors and/ from legitimate income. or other officials under it and with its 2. Members of the Board of Commissioners shall knowledge to attend the meetings of Board of report to the Corporate Secretary concerning Commissioners. their and/or their family members’ ownership 6. To appoint and dismiss the Secretary of the of shares with the Company and other Board of Commissioners at the Company’s Companies, including any changes thereof. expense, if deemed necessary. 3. Members of the Board of Commissioners shall 7. To temporarily dismiss members of the Board make disclosures in the event of a conflict of Directors in accordance with provisions of of interest, and the concerned members the Articles of Association. shall not involve themselves in the Board of 8. To form other Committees besides the Audit Commissioners’ decision-making process in Committee, if deemed necessary by taking connection to the matter. into account the capacity of the Company. 4. In carrying out its duties and functions, each 9. To call on experts for certain tasks and within a member of the Board of Commissioners must: certain period at the expense of the Company, a. Comply with the Articles of Association, if deemed necessary. laws and regulations, as well as 10. To perform management functions of the the principles of professionalism, Company under certain circumstances for a efficiency, transparency, independence, certain period in accordance with provisions of accountability, responsibility and fairness. the Articles of Association. b. Carry out supervisory duties and advise the 11. To attend the meetings of Board of Directors Board of Directors in good faith, prudence, and provide views on matters discussed. and full responsibility for the interests

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of the Company and in accordance with 4. Removing bad debts and inventory from the stated aims and objectives. books. c. Attach an Integrity Pact to the Board of 5. Releasing movable fixed assets with an Directors’ proposals, which shall obtain economic lifespan that is normally applicable recommendations from the Board in the industry up to 5 (five) years. of Commissioners and approval of 6. Establishing the organizational structure of 1 Shareholders. (one) level below the Board of Directors. d. Renew the personal statement of not having a conflict of interest on a periodic Mechanism for Resignation and Dismissal basis/ at the beginning of every year. of Members of Board of Commissioners Members of the Board of Commissioners may If a member of the Board of Commissioners has resign and/or be dismissed for various reasons a conflict of interest, the member is prohibited before the expiration of term of office, as stated from taking actions that could harm or reduce in Minister of SOE Regulation No. PER-02/ the Company’s profitability. The relevant member MBU/02/2015. This regulation also regulates must disclose any conflict of interest in any decision the procedure for the dismissal of members related to it. Decisions made must remain to of the Board of Commissioners. The reasons prioritize the economic interests of the Company. for the dismissal of members of the Board of Commissioners may include: Decisions That Require the Approval of • Inability to perform the duties as required; the Board of Commissioners • Committing violations against the Articles of The Board of Commissioners has a significant role Association and/or prevailing legislation; in the various business decisions of PT Angkasa • Engaging in actions that are detrimental to Pura I (Persero). Some important decisions that the SOE and/ or the country; require the approval of the Board of Commissioners • Conducting actions that violate the code of are as follows: conduct and/or propriety that should actually 1. Putting up fixed assets as collateral for short- inspire respect as members of the Board of term credit withdrawals. Commissioners and the SOE Supervisory 2. Establishing partnerships with business Board; entities or other parties in the form of licensing • Found to be guilty by a court decision that has cooperation, management contracts, asset permanent legal force; or leasing, Joint Operations (KSO), Build Operate • Resignation. Transfer (BOT), Build Own Transfer (BOwT), and Build Transfer Operate (BTO) with a certain Besides the above stated reasons of the dismissal, value or time period determined by the GMS. the Minister of SOEs or GMS may also dismiss 3. Receiving or providing medium/ long term members of the Board of Commissioners for other loans, except: reasons in the interests and objectives of SOEs and/ a. Loans (debt or receivables) arising from or the Company. For example, but not limited to: business transactions. • Dismissed in order to restructure the Company; b. Issuance of bonds and other debt • Entering retirement age; and/ or securities. • Appointed as a civil servant as an assignment c. Loans granted to subsidiaries provided from the Technical Ministry or other that they report their loans to the Board of Government Agencies. Commissioners.

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Nomination and Election Process of Composition and Basis of Appointment of Board of Commissioners the Board of Commissioners The GMS through a transparent nomination PT Angkasa Pura I (Persero) appoints the Board and election process appoints the Board of of Commissioners based on provisions contained Commissioners. Shareholders are authorized to in Law No. 19 of 2003 concerning State-Owned elect members who have expertise, integrity, Enterprises and Minister of SOE Regulation No. honesty, leadership skills, experience, good PER-01/MBU/2011. As of end-2019, all elected behavior, and dedication to the Company through members had fulfilled the criteria and conditions the following series of processes: specified in the fit and proper test in accordance 1. Determine general evaluation criteria with applicable laws and regulations, Articles of for prospective members of the Board of Association, GCG policies, and other provisions. Commissioners. 2. Form a selection team to nominate candidates The composition and basis for appointing for the Board of Commissioners. members of the Board of Commissioners during 3. Appoint members of the Board of 2019 are as follows: Commissioners, including the President Commissioner.

PERIOD OF JANUARY 1, 2019 – APRIL 30, 2019 Composition of Board of Commissioners

Name Position Executor Basis of Appointment Effective Date

Djoko Sasono President Ministry of State- SK.210/MBU/07/2018 19 July 2018 Commissioner Owned Enterprises

Tri Budi Satriyo Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

Harry Z. Soeratin Commissioner Ministry of State- SK-17/MBU/01/2018 16 January 2018 Owned Enterprises

Anandy Wati Commissioner Ministry of State- SK.75/MBU/2014 7 April 2014 Owned Enterprises

Suprasetyo Commissioner Ministry of State- SK.65/MBU/4/2017 4 April 2017 Owned Enterprises

Ali Mochthar Ngabalin Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

PERIOD OF MAY 1, 2019 – AUGUST 31, 2019 Composition of Board of Commissioners

Name Position Executor Basis of Appointment Effective Date

Djoko Sasono President Ministry of State- SK.210/MBU/07/2018 19 July 2018 Commissioner Owned Enterprises

Tri Budi Satriyo Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

Harry Z. Soeratin Commissioner Ministry of State- SK-17/MBU/01/2018 16 January 2018 Owned Enterprises

Suprasetyo Commissioner Ministry of State- SK.65/MBU/4/2017 4 April 2017 Owned Enterprises

Ali Mochthar Ngabalin Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

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PERIOD OF SEPTEMBER 1, 2019 – DECEMBER 31, 2019 Composition of Board of Commissioners

Name Position Executor Basis of Appointment Effective Date

Djoko Sasono President Ministry of State- SK.210/MBU/07/2018 19 July 2018 Commissioner Owned Enterprises

Tri Budi Satriyo Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

Harry Z. Soeratin Commissioner Ministry of State- SK-17/MBU/01/2018 16 January 2018 Owned Enterprises

Suprasetyo Commissioner Ministry of State- SK.65/MBU/4/2017 4 April 2017 Owned Enterprises

Ali Mochthar Ngabalin Commissioner Ministry of State- SK.210/MBU/07/2018 19 July 2018 Owned Enterprises

Orientation Program for Newly meetings between new members and the Board Appointed Members of Board of of Directors, President Director and President Commissioners Commissioner of the Company to hear on various At PT Angkasa Pura I (Persero), newly appointed presentations. New members can submit written members of board of commissioners must questions on the presentations of Board of attend the orientation program to understand Directors, Board of Commissioners, and Company the activities and conditions of the Company. This officials to get further explanation. The orientation program was held by the Corporate Secretary program also facilitates new members to visit work along with other parties carrying out similar units, branch offices, and Company projects. functions in accordance with Minister of SOE Regulation No. PER-01/MBU/2011 and SK-16/S. In 2019 there was no orientation program for new MBU/2012 as stated in the Board Manual. During members of the board of commissioners. 2019, the orientation program was held based on the Secretariat of the Board of Commissioners Job Description of the Board of Letter No. 115/Sek.Dekom/2018 dated July 23, 2018 Commissioners concerning Induction Program for New Members The supervisory duties of Board of of the Board of Commissioners. Commissionersare is divided into several job descriptions in relation to the respective positions In the implementation of the orientation of members, with the objective that all members program, the newly appointed members of board can carry out their responsibilities and authorities of commissioners receive instruction on GCG in a focused, effective and efficient manner. The principles, a general description of the Company, job description of the board of commissioners delegated authority to members, and the duties is adjusted to the job description of the Board of and responsibilities of the Board of Directors and Directors, so that every member has clear roles, the Board of Commissioners. In addition, the both collectively and individually. Corporate Secretary also prepares a schedule of

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Job Descriotion of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Name Position Job Description

Djoko Sasono President Responsible for coordinating with all members of the Board of Commissioner Commissioners and structures below on the performance of its duties and authority with respect to internal audit, corporate secretary, legal, corporate planning and transformation, and compliance and risk management. He also concurrently serves as Deputy Chair II of the Audit Committee.

Anandy Wati Commissioner In charge of activities related to the duties and authority of the Board and also as of Commissioners on Human Resources Management, covering Independent Human Capital, Training and Development, General Services, Corporate Commissioner Social Responsibility. She also concurrently serves as Chair of the Audit Committee.

Harry Z. Soeratin Commissioner In charge of activities related to the duties and authority of the Board of Commissioners on finance, covering Accounting, Finance and Procurement, and concurrently serves as Deputy Chair I of the Audit Committee.

Suprasetyo Commissioner In charge of activities with the duties and authority of the Board of Commissioners related to engineering and operations, covering Airport Operations, Airport Security, Airport Safety, Airport Engineering, Airport Facilities and Maintenance, Airport Equipment and Airport Development, and concurrently serves as Chair of the Business Risk and GCG Committee.

Ali Mochtar Ngabalin Commissioner In charge of marketing which includes the aeronautical and non- aeronautical business, airport services and hospitality and airport tourism and connectivity, and also concurrently serves as Deputy Chair I of the Business Risk and GCG Committee.

Tri Budi Satriyo Commissioner In charge of business development including business development and international relations, business portfolio, information technology and digital airport, and also concurrently serves as Deputy Chair II of the Business Risk and GCG Committee.

Policy on Concurrent Positions of 2. Other positions in accordance with the Members of Board of Commissioners prevailing laws and regulations, as functionaries As stated in the Board Manual, members of of political parties and/or legislative candidates/ the Board of Commissioners may not hold the members and/or candidates for Head/ Deputy following concurrent positions: Head of Region. 1. As members of the Board of Directors of 3. Other positions that may cause a conflict of State-Owned Enterprises, Region-Owned interest. Enterprises, or Private Enterprises.

Concurrent Positions of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Position in PT Concurrent Position Concurrent Position Name of Other Name Angkasa Pura I in PT Angkasa Pura I in Other Company/ Company/ (Persero) (Persero) Organization Organization

Djoko Sasono President Deputy Chair II of Secretary General Ministry of State- Commissioner Audit Committee Owned Enterprises

Anandy Wati Komisaris Chair of Audit N/A N/A Independen Committee

Tri Budi Satriyo Commissioner Deputy Chair II of Air Vice Marshal Indonesian Air Force Business Risk and GCG Committee

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Concurrent Positions of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Position in PT Concurrent Position Concurrent Position Name of Other Name Angkasa Pura I in PT Angkasa Pura I in Other Company/ Company/ (Persero) (Persero) Organization Organization

Suprasetyo Commissioner Head of Business Risk N/A N/A and GCG Committee

Harry Z. Soeratin Commissioner Chair of Audit Head of Education, Ministry of Social Committee Research and Social Affairs Counseling Agency

Ali Mochthar Ngabalin Commissioner Deputy Chair I of Government Presidential Staff Business Risk and Spokesperson and Office GCG Committee Presidential Staff Office

Independent Commissioners and Angkasa Pura I (Persero) and its affiliates. Statement of Independence 5. Free from business interests or activities or On April 26, 2019, the tenure of Anandy Wati as other relationships that can hinder or interfere Independent Commissioner has ended. As of this with the ability of Board of Commissioners to annual report is submitted, there has been no act or think freely within the Company. appointment of an Independent Commissioner by the Ministry of SOEs at the General Meeting of Meetings of the Board of Commissioners Shareholders. Therefore, this Annual Report does PT Angkasa Pura I (Persero) has fulfilled the not contain information related to the statement provisions of the Articles of Association, Minister of independence of respective Independent of SOE Regulation No. PER-01/MBU/2011, and SK- Commissioners. 16/S.MBU/2012 related to Meeting of the Board of Commissioners, which is held at least once a month. Nevertheless, PT Angkasa Pura I (Persero) Meetings of the Board of Commissioners consist continues to refer to the Minister of SOE Regulation of internal meetings between members as well as No. PER-01/MBU/2011, namely the provision that meetings with the Board of Directors. Summons Independent Commissioners shall have no any to the Board of Commissioners Meeting shall financial, management, share ownership, and/or be circulated no later than 3 (three) days before family relationships with other members of the the meeting is held in writing by the President Board of Commissioners, the Board of Directors, Commissioner or the appointed Commissioner. and/or Controlling Shareholders or any other Summons to meetings may also be circulated at relations with the SOE. short notice in case of emergencies.

In addition, the Board Manual of the Board of The President Commissioner is responsible to chair Commissioners also sets the following criteria for meetings and may delegate duties to appointed independence: Commissioners. Decisions at meetings of Board 1. Not serving as a Director in a company of Commissioners are made through deliberation affiliated with PT Angkasa Pura I (Persero). to reach a consensus. If no agreement is reached 2. Not working for the government, including then a decision is made through a voting process. departments, institutions, and military for the Decisions in a meeting are considered valid and past 3 (three) years. binding if the meeting is attended by more than 3. Not working for the Company or its affiliates ½ (one half) of the members of the Board of for the past 3 (three) years. Commissioners or their representatives. 4. Not having financial links, either directly and indirectly, with the Company or companies that provide services and products to PT

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Agenda, Date and Attendance in Meetings of the Board of Commissioners 1. Internal Meetings of the Board of Commissioners During 2019, the agenda items, date and attendance record at the Internal Meetings of Board of Commissioners were as follows.

Internal Meetings of PT Angkasa Pura I (Persero) Board of Commissioners in 2019

No Date Agenda Items Participant

1 31 January 2019 1. Discussion on Proposed Organizational Structure of the 1. Djoko Sasono Sultan Hasanudin Airport - Makassar Project 2. Tri Budi Satriyo 2. Discussion on Proposal for 5-Year Partnership Agreement 3. Anandy Wati 3. Discussion on Plan to Grant Partnership and Community 4. Ali Mochtar Ngabalin Development Program Funds to Special SOEs 5. Suprasetyo 6. Harry Z. Soeratin

2 12 February 2019 1. Discussion on Proposal to PT Angkasa Pura I (Persero) for 1. Djoko Sasono 5-Year Business Partnership on the Management of Signal 2. Tri Budi Satriyo Boosters 3. Anandy Wati 2. Discussion on Proposal to Write-Off Fixed Assets 4. Ali Mochtar Ngabalin 5. Suprasetyo 6. Harry Z. Soeratin

3 26 March 2019 1. Discussion to Update on Preparations to Start Operations 1. Djoko Sasono at NYIA 2. Tri Budi Satriyo 2. Discussion on Planned Establishment of a Holding SOE 3. Anandy Wati entity on Air Transportation 4. Ali Mochtar Ngabalin 3. Discussion on Evaluation of GCG Follow-Ups at PT Angkasa 5. Suprasetyo Pura I (Persero) 6. Harry Z. Soeratin

4 24 April 2019 1. Discussion on PT Angkasa Pura I (Persero) Annual Report 1. Djoko Sasono 2018 2. Tri Budi Satriyo 2. Discussion on Organization and Work Procedures at the 3. Ananady Wati NYIA Branch Office 4. Ali Mochtar Ngabalin 5. Harry Z. Soeratin 6. Suprasetyo

5 16 May 2019 Discussion on Approval of Partnership Period for Billboards 1. Djoko Sasono Management at the New Terminal of Ahmad Yani Semarang 2. Tri Budi Satriyo Airport 3. Ali Mochtar Ngabalin 4. Suprasetyo 5. Harry Z. Soeratin

6 27 June 2019 1. Discussion on Performance Evaluation of Quarter I – May 1. Djoko Sasono 2019 2. Tri Budi Satriyo 2. Discussion on Proposed SOP on Strategic Cooperation 3. Harry Z. Soeratin 3. Discussion on Collaboration on Signal Boosters 4. Suprasetyo 5. Ali Mochtar Ngabalin

7 29 July 2019 1. Discussion on Performance Realization until June 2019 1. Djoko Sasono 2. Discussion on Proposed Revision to RKAP 2019 2. Tri Budi Satriyo 3. Discussion on Strategic Cooperation in the Development 3. Ali Mochtar Ngabalin and Management of Lombok Airport 4. Suprasetyo 5. Harry Z. Soeratin

8 27 August 2019 1. Discussion on Revision of RKAP 2019 of PT Angkasa Pura I 1. Djoko Sasono (Persero) 2. Tri Budi Satriyo 2. Discussion on Planned 5-year Cooperation Agreement 3. Ali Mochtar Ngabalin Contract at Syamsuddin Noor Airport -Banjarmasin 4. Suprasetyo 3. Discussion on Planned 5-year Cooperation Agreement 5. Harry Z. Soeratin Contract at Juanda Airport - Surabaya

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 301 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Internal Meetings of PT Angkasa Pura I (Persero) Board of Commissioners in 2019

No Date Agenda Items Participant

9 22 October 2019 1. Discussion on the Proposed Revision of RKAP on 1. Djoko Sasono Investment in 2019 of PT Angkasa Pura I (Persero) 2. Tri Budi Satriyo 2. Discussion on 5-Year Cooperation Agreement at SAMS 3. Ali Mochtar Ngabalin Sepinggan Airport - Balikpapan 4. Suprasetyo 3. Discussion on 5-Year Cooperation Agreement at 5. Harry Z. Soeratin Yogyakarta International Airport (YIA) - Kulon Progo 4. Request for Response to the Offer of Build Operate Transfer (BOT) of Hotel at the New Terminal of Syamsuddin Noor Airport Banjarmasin 5. Request for Hotel Construction & Business Cooperation Agreement in Yogyakarta International Airport Terminal - Kulon Progo

10 27 November 2019 1. Discussion on Proposed RKAP 2020 of PT Angkasa Pura I 1. Djoko Sasono (Persero) 2. Harry Z. Soeratin 2. Discussion on Proposed Write-off of Fixed Assets of PT 3. Ali Mochtar Ngabalin Angkasa Pura I (Persero) 4. Suprasetyo 3. Discussion on Guidelines for Cooperation with Strategic 5. Tri Budi Satriyo Partners 4. Discussion on Partnership Plans with Third Parties 5. Discussion on Equity Participation to Subsidiaries 6. Discussion on Amendment to Articles of Association of PT Angkasa Pura I (Persero) 7. Discussion on Selection of PPIP Institutions 8. Discussion of BPK Audit Results

11 10 December 2019 1. Discussion on Amendment to Articles of Association of 1. Djoko Susono PT Angkasa Pura I (Persero) 2 Tri Budi Satriyo 2. Discussion on Selection of PPIP Institutions 3 Ali Mochtar Ngabalin 3. Discussion on Guidelines for Cooperation with Strategic 4 Suprasetyo Partners 5 Harry Z. Soeratin 4. Discussion on Management of Signal Booster Services by PT APS 5. Discussion on Capsule Hotel at Bali Airport 6. Discussion on Development and Management of Airport Hotel at YIA 7. Discussion on Equity Participation to Subsidiaries 8. Discussion of BPK Audit Results

12 16 December 2019 Performance Evaluation of Board of Directors 1. Djoko Susono 2. Tri Budi Satriyo 3. Ali Mochtar Ngabalin 4. Suprasetyo 5. Harry Z. Sooeratin

2. Joint Meetings between Board of to discuss a specific issue, provide responses, Commissioners and Board of Directors notes, and advice to the Board of Directors The President Commissioner may invite the regarding the issues set forth in the Minutes of President Director to hold a joint meeting Meeting. at least 7 (seven) days before the meeting is held. Joint meeting between Board of During 2019, the agenda items, date, and Commissioners and Board of Directors is held attendance record of the Joint Meetings between at least once a month to discuss periodic Board of Commissioners and Board of Directors reports of the Board of Directors. In addition, were as follows. the joint meetings provide the opportunity

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Joint Meetings Between Board of Commissioners and Board of Directors of PT Angkasa Pura I (Persero) in 2019

Participant No Date Agenda Items Description Board of Board of Directors Commissioners

1 23 January Discussion on Long-Term Business 1. Djoko Sasono Novrihandri Ali Mochtar 2019 Plan (RJPP) 2019 – 2023 of PT 2. Tri Budi Satriyo Ngabalin and Angkasa Pura I (Persero) 3. Harry Z. Soeratin Suprasetyo 4. Anandy Wati were out of town on official duty

2 31 January 1. Discussion on Progress of Long- 1. Djoko Sasono 1. Faik Fahmi Harry Z. 2019 Term Business Plan (RJPP) 2. Tri Budi Satriyo 2. Wendo Asrul Rose Soeratin was 2019 – 2023 of PT Angkasa Pura I 3. Anandy Wati 3. Devy Suradji out of town (Persero) 4. Ali Mochtar Ngabalin 4. Adi Nugroho on official 2. Discussion on Progress of New 5. Suprasetyo 5. Sardjono Jhony T. duty Yogyakarta International Airport (NYIA) Project

3 12 February Discussion on Follow-Up to PT 1. Djoko Sasono 1. Faik Fahmi 2019 Angkasa Pura I (Persero) Work Plan 2. Tri Budi Satriyo 2. Wendo Asrul Rose and Budget (KAP) Financial Year 3. Anandy Wati 3. Lukman F. Laisa 2018 4. Ali Mochthar 4. Devy Suradji Ngabalin 5. Novrihandri 5. Harry Z. Soeratin 6. Adi Nugroho 6. Suprasetyo 7. Sardjono Jhony T.

4 26 March 1. Discussion to Update on 1. Djoko Sasono 1. Faik Fahmi 2019 Preparations to Start Operations 2. Tri Budi Satriyo 2. Lukman F. Laisa at NYIA 3. Anandy Wati 3. Devy Suradji 2. Discussion on Planned 4. Ali Mochtar Ngabalin 4. Novrihandri Establishment of Holding SOE 5. Harry Z. Soeratin 5. Adi Nugroho entity on Air Transportation 6. Suprasetyo 6. Sardjono Jhony T 3. Discussion on Evaluation of GCG Follow-Ups at PT Angkasa Pura I (Persero)

5 16 May 2019 1. Preparation of GMS to Approve 1. Djoko Sasono 1. Faik Fahmi the PT Angkasa Pura I (Persero) 2. Tri Budi Satriyo 2. Lukman F. Laisa Annual Report 2018 3. Ali Mochtar Ngabalin 3. Wendo Asrul Rose 2. Preparation of Transpor-tation 4. Suprasetyo 4. Devi Suradji Monitoring Post for the Eid 5. Harry Z. Soeratin 5. Adi Nugroho Homecoming Season 6. Anandy Wati 6. Sardjono Jhony T 3. Progress of YIA Airport Project;

6 29 July 2019 1. Discussion on Strategic 1. Djoko Sasono 1. Faik Fahmi Cooperation in the Development 2. Tri Budi Satriyo 2. Lukman F. Laisa and Management of Lombok 3. Ali Mochtar Ngabalin 3. Wendo Asrul Rose Airport 4. Harry Z. Soeratin 4. Devi Suradji 2. Discussion on Performance 5. Suprasetyo 5. Adi Nugroho Realization until June 2019 6. Sardjono Jhony T 3. Discussion on Proposed Revision of Company Work Plan & Budget (RKAP) 2019

7 30 1. Discussion on Operational Plan 1. Djoko Sasono 1. Faik Fahmi September of Syamsuddin Noor Airport, 2. Tri Budi Satriyo 2. Wendo Asrul Rose 2019 Yogyakarta International Airport 3. Ali Mochtar Ngabalin 3. Lukman F. Laisa and Adi Soemarmo Airport Train 4. Harry Z. Soeratin 4. Devy Suradji 2. Discussion to Update on Air 5. Suprasetyo 5. Novrihandri Transport Holding SOE Plan 6. Adi Nugroho 7. Sardjono Jhony T.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 303 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Joint Meetings Between Board of Commissioners and Board of Directors of PT Angkasa Pura I (Persero) in 2019

Participant No Date Agenda Items Description Board of Board of Directors Commissioners

8 31 October 2019 Discussion on Proposed 1. Djoko Sasono 1. Lukman F. Laisa Tri Budi was Company Work Plan & 2. Harry Z. Soeratin 2. Novrihandri out of town Budget (RKAP) for Financial 3. Ali Mochtar Ngabalin on official Year 2020 4. Suprasetyo duty

9 5 – 6 November Discussion on Proposed 1. Djoko Sasono 1. Novrihandri 2019 Company Work Plan & 2. Suprasetyo 2. Wendo Asrul Rose Budget (RKAP) for Financial 3. Tri Budi Satriyo Year 2020 4. Ali Mochtar Ngabalin 5. Harry Z. Soeratin

10 27 November 2019 1. Discussion on Proposed 1. Djoko Sasono 1. Faik Fahmi Company Work Plan & 2. Ali Mochtar Ngabalin 2. Wendo Asrul Rose Budget(RKAP) of PT AP I for 3. Harry Z. Soeratin 3. Lukman F. Laisa Financial Year 2020 4. Suprasetyo 4. Devy Suradji 2. Discussion on Guidelines 5. Tri Budi Satriyo 5. Novrihandri for Cooperation with 6. Adi Nugroho Strategic Partners 7. Sardjono Jhony T

11 5 December 2019 Discussion on Proposed 1 Harry Z. Soeratin Novrihandri Djoko and Company Work Plan & 2 Suprasetyo Ngabalin Budget (RKAP) for Financial 3 Tri Budi Satriyo were out Year 2020 4 Ali Mochtar Ngabalin out town on official duty

12 20 December 2019 Presentation on Interim Audit 1 Djoko Sasono 1. Faik Fahmi Results 2. Ali Mochtar Ngabalin 2. Novrihandri 3. Harry Z. Soeratin 3. Devi Suradji 4. Tri Budi Satriyo 4. Adi Nugroho 5. Pak Suprasetyo

Frequency and Attendance of Board of and twelve Joint Meetings between the Board of Commissioners Commissioners and the Board of Directors. The In 2019, the Board of Commissioners held twelve frequency and attendance of all members of the Internal Meetings of Board of Commissioners Board of Commissioners are as follows.

Frequency and Attendance of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Joint Meetings Between Internal Meetings of Board Board of Commissioners of Commissioners in 2019 and Board of Directors in 2019 Name Position Period Total and (%) Attendance Total and (%) Attendance

Total Total Total Total % % Meetings Attendance Meetings Attendance

Djoko Sasono President 19 July 2018 – 12 12 100 12 11 91,7 Commissioner Present

Tri Budi Satriyo Commissioner 19 July 2018 – 12 12 100 12 11 91,7 Present

Harry Z. Soeratin Commissioner 16 January 2018 12 12 100 12 11 91,7 – Present

PT Angkasa Pura I (Persero) 304 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Frequency and Attendance of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Joint Meetings Between Internal Meetings of Board Board of Commissioners of Commissioners in 2019 and Board of Directors in 2019 Name Position Period Total and (%) Attendance Total and (%) Attendance

Total Total Total Total % % Meetings Attendance Meetings Attendance

Anandy Wati Independent 7 April 2014 – 4 4 100 4 4 100 Commissioner 7 April 2019

Suprasetyo Commissioner 4 April 2017 – 12 12 100 12 11 91,7 Present

Ali Mochtar Ngabalin Commissioner 19 July 2018 – 12 12 100 12 10 83,3 Present

Decisions, Recommendations and Execution of Duties of the Board of Commissioners of decisions and recommendations contained Of the duties performed as mentioned above, the in decrees in accordance with its authority and Board of Commissioners has issued a number responsibilities, which include the following:

Decrees of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

No Number Date Subject

1 KEP.01/DK.AP.I/2019 2 January 2019 Charter of Business Risk & Good Corporate Governance (GCG) Committee in the Organizational Structure/ Supporting Organs of Board of Commissioners of PT Angkasa Pura I (Persero)

2 KEP.02/DK.AP.I/2019 7 May 2019 Code of Corporate Governance of PT Angkasa Pura I (Persero)

3 KEP.03/DK.AP.I/2019 7 May 2019 Code of Conduct of PT Angkasa Pura I (Persero)

4 KEP.04/DK.AP.I/2019 7 April 2019 Dismissal and Appointment of the Chair of Audit Committee of PT Angkasa Pura I (Persero)

5 KEP.05/DK.AP.I/2019 1 July 2019 Dismissal and Appointment of Members of Audit Committee of PT Angkasa Pura I (Persero)

6 KEP.06/DK.AP.I/2019 1 November 2019 Reappointment of the Secretary of Board of Commissioners of PT Angkasa Pura I (Persero)

Performance Evaluation of the Board of Commissioners The Board of Commissioners has carried out its 3. Held Meetings with the Ministry of SOEs/ duties and responsibilities in the reporting period, Shareholders. which includes the following: 4. Attended GMS on 4 occasions. 1. Conducted 12 Internal Meetings of Board of Commissioners and 12 Joint Meetings For these various activities, the Board of Between Board of Commissioners and Board Commissioners is assessed on a periodic basis in of Directors. order to monitor the effectiveness, efficiency and 2. Held Meetings of the Audit Committee and success of its performance with the objective of Business Risk & GCG Committee. improving the future performance.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 305 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Performance Evaluation of Board of Commissioners Based on KPIs Performance evaluation of the Board of The performance of the Board of Commissioners Commissioners is conducted through based on KPIs is evaluated by Shareholders through achievements on Key Performance Indicators the mechanism of Board of Commissioners’ each year, which include the aspects of: Management Contract with Shareholders at the 1. Finance and Markets; GMS. The assessment is based on the prevailing 2. Customer Focus; laws and regulations, Articles of Association, and 3. Effectiveness of Products and Processes; the mandate of Shareholders. 4. Workforce Focus; 5. Leadership, Governance and Social The results of Board of Commissioners performance Responsibility; and evaluation based on KPIs in 2019 are shown in the 6. Agent of Development following table.

Key Performance Indicators (KPIs) Evaluation of Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Achievement Score Key Performance Indicator Weight Score

Supervision and Direction 60 59,50

Reporting 30 30

Dynamic/others 10 10

Weight 100 99,50

Performance Evaluation of Board of Commissioners Based on GCG Assessment The performance evaluation of the Board of 2. Dividing tasks and determing factors required Commissioners is also conducted based on to support the execution of duties of the Board the principles of good governance, namely of Commissioners. through GCG assessment. In this regard, PT 3. Granting approval for the draft RJPP and RKAP Sierra Bisnis Konsulting, an independent external submitted by the Board of Directors. party, conducted the performance evaluation 4. Providing guidance to the Board of Directors through GCG assessment. The implementation on the implementation of the Company’s of evaluation refers to the Secretary of Ministry of plans and policies. SOEs Decree No. SK-16/S.MBU/2012 dated June 5. Conducting supervision on the Board of 6, 2012 concerning Assessment and Evaluation Directors on the implementation of the Indicators/Parameters for the Implementation of Company’s plans and policies. Good Corporate Governance at SOEs. 6. Conducting supervision on the implementation of management policies of The criteria for the performance evaluation of subsidiaries/joint ventures. the Board of Commissioners based on GCG 7. Play a role in nominating members of the assessment are as follows: Board of Directors, evaluating the performance 1. Implementing training/learning programs of of the Board of Directors (individuals and the Board of Commissioners. groups), and proposing bonuses/incentives for their performance.

PT Angkasa Pura I (Persero) 306 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

8. Taking actions against potential conflicts 3. Provided recommendations for improving the of interest concerning the Board of SPI and its implementation. Commissioners. 4. Evaluated the procedures for all information 9. Monitoring the implementation of Good released by the Company Corporate Governance principles. 10. Organizing meetings of the Board of Further, during 2019 the Business Risk and GCG Commissioners and the attendance level at Committee carried out its duties through the the meetings. following activities: 11. The presence of a Secretary to support the 1. Organized 30 Business Risk and GCG implementation of secretarial tasks of Board Committee meetings. of Commissioners. 2. Conducted monitoring, review, and made 12. The Presence of an effective Board of recommendations on the implementation of Commissioners Committee. risk management. 3. Conducted monitoring, evaluation, and Based on the evaluation criteria above, the reporting activities on the Company’s GCG performance of Board of Commissioners in 2019 implementation. obtained a score of 34.14 with 97.55% achievement 4. Assisted in auditing financial statements for and rating of ‘very good’. This achievement Financial Year 2018. representas an increase from the previous year. Related to the Nomination and Remuneration Performance Evaluation of Committees Committee, as of end-2019 it was noted that this under the Board of Commissioners and committee had carried out the following activities: Basis of Assessment 1. Established a policy of Board of Commissioners In carrying out its duties and functions, the on the remuneration proposal of the Board of Board of Commissioners is supported by Directors. the Audit Committee, the Business Risk and 2. Developed Board of Commissioners plan to GCG Committee, and the Nomination and review the proposed remuneration of the Remuneration Committee. In 2019, the Board of Board of Directors. Commissioners considered that the committees have been effective in carrying out their duties and responsibilities.

During 2019, the Audit Committee performed its duties through the following activities: 1. Held 17 Audit Committee meetings. 2. Assessed the activities and results of audits carried out by the internal control system (SPI).

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 307 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Board of Directors

As mandated in Law No. 19 of 2003 concerning In carrying out its duties, the Board of Directors State-Owned Enterprises and Law No. 40 of 2007 complies with the Articles of Association and concerning Limited Liability Companies, the Board applicable laws and regulations. The Board of of Directors has the duty and responsibilities of Directors is also required to uphold the principles managing the Company’s business in order to of professionalism, efficiency, transparency, achieve the company goals. In addition, the Board independence, accountability, responsibility and of Directors also represents the Company inside fairness. and outside the courts.

Board Charter of the Board of Directors

The Board Charter/Board Manual of the Board 4. Authority of the Board of Directors. of Directors is contained in a Joint Decree of 5. Rights of the Board of Directors. the Directors and Board of Commissioners of 6. Independence of the Board of Directors. PT Angkasa Pura I (Persero) Number KEP.144/ 7. Code of Conduct. OM.01/2019 KEP.06/DK.AP.I/2019 concerning 8. Determination of Company Management Guidelines for the Work Procedures of Policies by the Board of Directors. Commissioner and Board of Directors. The Board 9. Delegation of Authority Among Members of of Directors has a Board Charter/Board Manual that the Board of Directors. serves as guidelines for carrying out its duties. In 10. Distribution of Duties of the Board of Directors. general, the Board of Charter of Board of Directors 11. Meetings of the Board of Directors. regulates the following matters: 12. Relationships with Subsidiaries and Joint 1. Requirements and Composition of Board of Ventures. Directors. 13. Company Secretary. 2. Responsibilities of the Board of Directors. 14. Internal Supervisory Unit. 3. Duties and Obligations of the Board of 15. Team of Board Directors/ Use of Professional Directors. Advice.

Criteria for Board of Directors

All members of the Board of Directors of PT convicted of a crime that caused state loss Angkasa Pura I (Persero) are apppointed in in the period of 5 (five) years prior to his accordance with the criteria listed in the Work appointment. Procedures of the Board of Directors and Board - - Not having a family relationship of Commissioners (Board Charter/Board Manual), or relationship by marriage up to the third including the following: degree, either vertically or horizontally to a. Formal criteria, namely: the side or relationship by marriage (or - Competent in taking legal actions. son-in law) with members of the Board of - Never been declared bankrupt Commissioners and/or other members of - Was never a member of Board of the Board of Directors. Directors or Board of Commissioners - Not holding concurrent position as found responsible for causing a Company member of the Board of Directors to to go bankrupt, and have never been State-Owned Enterprises, Region-Owned

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Enterprises, and other positions in - Having technical competence/expertise, structural or functional positions in central that the respective person has adequate or regional government institutions, as knowledge, experience and expertise in well as other positions that may give rise the areas of operations of the Company, to a conflict of interest either directly has the ability to perform strategic or indirectly with the Company and/ management within the framework of the or conflicting with applicable rules and Company, understanding the problems of regulations. management of the Company with regard b. Material criteria, namely: to one of the functions of management, - Having high integrity and morals, in that as well as having dedication and provide the respective person is well-behaved and full time to perform their duties. has never been involved in the perpetration - Having a good psychological health, in that of engineering and illegal practices, given the respective person has an adequate false promises, and other acts that can be level of intelligence and emotional level categorized as gaining personal benefits to perform their duties as members of the that violates the principles of healthy Board of Directors of the Company. management of the Company.

Duties and Responsibilities of the Board of Directors

In general, the duties and responsibilities of the 7. To organize and store a Special List in Board of Directors are as follows: accordance with prevailing laws and 1. Each member of the Board of Directors must regulations. perform their duties in good faith and full 8. To take personal responsibility for mistakes responsibility for the interests and business of and omissions in performing their duties. the Company. 9. To compile a list of manager candidates 2. To ensure that all activities of the Company one level below the Board of Directors to be have been carried out in accordance with submitted to the Board of Commissioners, if applicable laws and regulations, the Articles of needed. Association, and GMS Resolutions. 10. To carry out other tasks, including: 3. To organize, implement and evaluate - Organize, implement, and evaluate the relationship management with Shareholders strategies and work plans of the Company and other stakeholders. - Organize, implement and evaluate risk 4. To perform all actions related to the management, internal control systems, management of the Company for the benefit accounting and bookkeeping systems, of the Company and in accordance with the as well as information disclosure and purposes and objectives of the Company. confidentiality. 5. To represent the Company, both inside and - Implement business ethics and promote outside the courts. a culture of anti-corruption. 6. To implement GCG in a consistent and sustainable manner.

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Authority and Rights of the Board of Directors

Related to the performance of its duties, the Board 9. Appoint and dismiss the Corporate Secretary. of Directors has the authorities and the rights to: 10. Perform other actions regarding the 1. Represent the Company inside and outside management and ownership of the Company’s the courts. assets, bind the Company with other parties, 2. Establish the management policies of the as well as represent the Company inside and Company. outside the courts for all matters and events, 3. Arrange the transfer of authority of the Board in accordance with restrictions stated in of Directors to one or several members of prevailing laws and regulations, Articles of the Board of Directors or to one or several Association and GMS Resolutions. Company employees, individually or jointly, 11. Regulate the provisions on corporate to make decisions on behalf of the Board of employment, including the determination of Directors or represent the Company inside or salaries, pensions or old age benefits and other outside the courts. income for employees based on prevailing 4. Establish guidelines for the procurement of laws and regulations. The GMS must approve goods and services that are profitable for the in advance the determination of salaries, Company, both in terms of price and quality of pensions or old age benefits and other income the goods and services. for employees that exceed the obligations set 5. Establish provisions and make arrangements in the prevailing laws and regulations. with respect to corporate employment. 12. Appoint and dismiss employees based on 6. Appoint and dismiss employees based on the corporate employment regulations and corporate employment regulations as well as applicable laws and regulations. applicable laws and regulations. 13. Receive salary and other benefits/ facilities, 7. Establish performance targets and including post-employment allowance of the performance evaluation systems for type and amount determined by the GMS. organizational units and positions that have 14. Other authorities with the approval of the been set in an objective and transparent Board of Commissioners and/or GMS. manner. 8. Analyze and evaluate performance achievements for positions/units under the Board of Directors and at the Company level.

Code of Conduct of the Board of Directors

The Board of Directors must carry out their duties and responsibilities based on the code of ethics of the position, as follows: 1. Members of the Board of Directors are prohibited from performing actions that may give rise to conflict of interest and take personal benefits, either directly or indirectly from making decisions and/ or Company activities, other than legitimate income. 2. Members of the Board of Directors must disclose their and/or their family members’ ownership of shares of other companies on the Special Register.

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In the event that a member of the Board of interest in any decision related to it. The decision Directors has a conflict of interest, the relevant made must prioritize the economic interests of the member is prohibited from taking actions that Company. may harm or reduce the Company’s profit. The relevant member must disclose any conflict of

Mechanism for Resignation and Dismissal of Members of Board of Directors

In accordance with provisions in the Board Manual 7. Within 30 (thirty) days following the temporary of PT Angkasa Pura I (Persero), members of the dismissal, the Board of Commissioners is Board of Directors may resign or be dismissed required to call a GMS which will decide at any time before the term of office expires for whether the relevant members will be various reasons. The procedures and reasons for permanently dismissed or returned to their dismissal of members of the Board of Directors position, by first giving them an opportunity include the following: to mount a defense. 1. The term of office of members of the Board of 8. If the GMS is not held within a period of 30 Directors is 5 (five) years without prejudice to (thirty) days, the temporary dismissal shall be the right of the GMS to dismiss at any time. declared void and the dismissed members 2. After the term of office expires, the GMS may of the Board of Directors shall carry out their reappoint members of Board of Directors for 1 duties with the same power and authority. (one) subsequent term of office. 9. Members of the Board of Directors have 3. The position of members of the Board of the right to resign from their positions by Directors will end in the event of: giving written notice of their intentions a. Expiry of the term of office. to the Company, with a copy provided to b. Resignation in accordance with applicable Shareholders, the Board of Commissioners regulations. and other members of the Board of Directors c. No longer meeting the requirements of no later than 30 (thirty) days prior to the applicable laws and regulations. resignation date and effective from the date d. Death. the request is approved by the GMS. However, e. Dismissal based on GMS resolution. if there is no decision from the GMS then 4. The GMS may dismiss a member of the Board the terms of relevant members will end on of Directors at any time before the term expires the requested date or with the passage of 30 by stating the reasons for termination. (thirty) days from the date the letter of request 5. The Board of Commissioners reserves the right for resignation is received without requiring to temporarily dismiss one or more members the approval of the GMS. of the Board of Directors if they act contrary 10. Members of the Board of Directors who have to the Articles of Association or neglect their resigned must account for their actions should obligations or in case of an urgent requirement it not have been reported to the GMS. for the Company. 6. The temporary dismissal must be notified in writing to the relevant persons along with the reasons for the action.

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Term of Office of the Board of Directors

Members of the Board of Directors have a term of has ended, members of the Board of Directors may office of 5 (five) years in one period. Nevertheless, be reappointed by the GMS for 1 (one) subsequent the GMS has the right to dismiss members at any term of office. time under specific reasons. After the term of office

Composition and Basis of Appointment of the Board of Directors

Determination of the composition and regulations, Articles of Association, GCG policies, appointment of PT Angkasa Pura I (Persero) Board and other provisions. of Directors is adjusted to needs and business strategies of the Company. Currently, all elected The composition and basis of appointment of members of the Board of Directors have fulfilled members of the Board of Directors in 2019 are as the criteria and conditions specified in the fit and follows: proper test in accordance with applicable laws and

Composition of Board of Directors in 2019

Name Position Executor Basis of Appointment Effective Date

Faik Fahmi President Director Ministry of State- Minister of SOEs Decree No. 22 December 2017 Owned Enterprises SK-289/MBU/12/ 2017

Novrihandri Director of Finance Ministry of State- Minister of SOEs Decree 9 November 2015 Owned Enterprises as GMS No. SK-222/MBU/ II/2015

Devy Suradji Director of Ministry of State- Minister of SOEs Decree No. 22 December 2017 Marketing and Owned Enterprises SK-289/MBU/12/ 2017 Services

Wendo Asrul Rose Director of Ministry of State- Minister of SOEs Decree 9 November 2015 Operations Owned Enterprises as GMS No. SK-222/MBU/ II/2015

Lukman F. Laisa Director of Ministry of State- Minister of SOEs Decree 5 March 2018 Technical Affairs Owned Enterprises as GMS No. SK-53/MBU/ 03/2018

Adi Nugroho Director of Human Ministry of State- Minister of SOEs Decree 9 November 2015 Resources and Owned Enterprises as GMS No. SK-222/MBU/ General Affairs II/2015

Sardjono Jhony Director of Business Ministry of State- Minister of SOEs Decree No. 11 August 2017 Tjitrokusumo Development Owned Enterprises SK-155/MBU/08/ 2017

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Orientation Program for New Directors

New directors of PT Angkasa Pura I (Persero) are The orientation program allows new directors to required to undertake the induction process, with enhance their understanding on GCG principles, the objective being that they understand the the general overview of the Company, delegated activities and present conditions of the Company. authority to members, duties and responsibilities The orientation program is delivered in accordance of the Board of Directors, work relations with the with the regulations stated in the Board Manual. In Board of Commissioners, and matters that are this regard, the executor of the orientation program forbidden for the Board of Directors. Through the is the Corporate Secretary. Throughout 2019, there program, the Corporate Secretary organizes a was no change in the Board of Directors, so there meeting between new Directors and the Board was no Directors orientation program. of Commissioners, Company officials, President Director and the President Commissioner. Besides meetings, the orientation program also facilitates new members to visit work units, branch offices, and Company projects.

Scope of Work and Responsibilities of Members of the Board of Directors

At PT Angkasa Pura I (Persero), each member of OM.01.01/2018 concerning Organization and Work the Board of Directors has different duties and Procedures at the Head Office of PT Angkasa Pura responsibilities as per the assigned position. The I (Persero). division of scope of work and responsibilities of members of board of directors are regulated Details of the division of duties and responsibilities under Board of Directors Decree No. KEP.101/ of members of the Board of Directors are as follows.

Scope of Work and Responsibilites of Board of Directors of PT Angkasa Pura I (Persero) in 2019

Name Position Duties and Responsibilities

Faik Fahmi President Director To ensure the execution of management functions by members of the Board of Directors in accordance with the main duties of the Company. This is achieved by determining the policies to be carried out by Directors and controlling the implementation of internal audit, corporate secretary, legal, corporate planning and transformation as well as compliance and risk management, in order to support the achievement of the company’s vision and mission in accordance with the articles of association and policies determined by the GMS.

Novrihandri Director of Finance To ensure an increase in the Customer Satisfaction Index (CSI) score, increase in aeronautical and non-aeronautical business revenue and contribute to the environment through the establishment of policies and strategies on finance, and procurement of goods and services to support the achievement of the company’s vision and mission based on the Company Work Plan and Budget (RKAP).

Devy Suradji Director of To ensure an increase in the Customer Satisfaction Index (CSI) score, increase Marketing and in aeronautical and non-aeronautical business revenue, and contribute Services to the environment through the establishment of policies and strategies in marketing and services to support the achievement of the company’s vision and mission based on the Company Work Plan and Budget (RKAP).

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Scope of Work and Responsibilites of Board of Directors of PT Angkasa Pura I (Persero) in 2019

Name Position Duties and Responsibilities

Wendo Asrul Rose Director of To ensure an increase in the Customer Satisfaction Index (CSI) score, increase Operations in aeronautical and non-aeronautical business revenue, and contribute to the environment through the establishment of policies and strategies in the field of operations to support the achievement of the company’s vision and mission based on the Company’s Work Plan and Budget (RKAP).

Lukman F. Laisa Director of To ensure an increase in the Customer Satisfaction Index (CSI) score, Technical Affairs increase in aeronautical and non-aeronautical business revenue, and contribute to the environment through the establishment of technical policies and strategies to support the achievement of the company’s vision and mission based on the Company Work Plan and Budget (RKAP).

Adi Nugroho Director of Human To ensure an increase in the Customer Satisfaction Index (CSI) score, increase Resources and in aeronautical and non-aeronautical business revenues, and contribute to General Affairs the environment through the establishment of policies and strategies in the field of human resources, training and development, public services, and the Partnership and Community Development Program (PKBL) to support the achievement of company’s vision and mission based on the Company Work Plan and Budget (RKAP).

Sardjono Jhony Director of Business To ensure an increase in the Customer Satisfaction Index (CSI) score, increase Tjitrokusumo Development in aeronautical and non-aeronautical business revenue, and contribute to the environment through the establishment of policies and strategies in the field of cooperation, business development and information technology to support the achievement of the company’s vision and mission based on the Company Work Plan and Budget (RKAP).

Policy on Concurrent Position of The Board of Directors

The Board of directors of PT Angkasa Pura I SOE Directors. PT Angkasa Pura I (Persero) always (Persero) does not hold concurrent position discloses a list of concurrent positions of the Board that violate or not in accordance with applicable of Directors of the Company in office. The list of regulations, namely Minister of SOE Regulation concurrent positions of members of the Board of No. PER-01/MBU/2012 concerning Requirements Directors in 2019 is as follows: and Procedures for Appointment and Dismissal of

Concurrent Position of The Board of Directors

Concurrent Position in PT Concurrent Position Position in PT Name of Other Name Angkasa Pura I in Other Companies/ Angkasa Pura I Company/ Organization (Persero) Organizations (Persero)

Faik Fahmi President Director N/A President Commissioner PT Angkasa Pura Suport

Wendo Asrul Rose Director of N/A Commissioner PT Gapura Angkasa Operations

President Commissioner PT Angkasa Pura Logistik Novrihandri Director of Finance N/A Supervisory Board Dapenra

Director of HR and Adi Nugroho N/A President Commissioner PT Angkasa Pura Hotel General Affairs

Director of PT Angkasa Pura Lukman F. Laisa N/A President Commissioner Technical Affairs Properti

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Concurrent Position of The Board of Directors

Concurrent Position in PT Concurrent Position Position in PT Name of Other Name Angkasa Pura I in Other Companies/ Angkasa Pura I Company/ Organization (Persero) Organizations (Persero)

Director of Devy Suradji Marketing and N/A President Commissioner PT Angkasa Pura Retail Services

Sardjono Jhony Director of Business N/A Commissioner PT Jasa Marga Bali Tol Tjitrokusumo Development

Board of Directors Meeting

The directors of PT Angkasa Pura I (Persero) have be discussed at the meeting. Furthermore, the conformed to the requirement for holding Board agenda must be arranged based on the evaluation of Directors meetings regularly at least once a outcomes of the previous meeting. Decisions of month. In addition, the Board of Directors also the Board of Directors Meeting are said to be valid holds the Internal Routine Meeting once a week and binding if the meeting is attended by more on Tuesday, as well as meetings with General than ½ (one half) of the number of directors or Managers, Group Heads, Directors of subsidiaries; their authorized representatives. On the other and attends Joint Meetings of the Board of hand, in discussing additional agenda items, the Commissioners and Board of Directors. Summons Board of Directors is not entitled to make decisions for Board of DirectorsMeetings are carried out in unless the meeting is attended by all members or writing by members of Board of Directors who their authorized representatives and has approved are entitled to represent the Company and are the addition of the agenda item for the meeting. submitted no later than 3 (three) days before the meeting is held. During emergencies, summon of Agenda Item, Date and Attendance of meetings can be carried out at short notice. Participant in the Board of Directors The meeting agenda is prepared by the Corporate Meeting Secretary and circulated to members of the 1. Internal Meetings of the Board of Directors Board of Directors prior to the meeting for advice. In 2019, the Board of Directors held 38 meeting Members of the Board of Commissioners have with the following details. the right to propose additional agenda items to

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Agenda Item, Date and Attendance of Participant in the Board of Directors Meetings of PT Angkasa Pura I (Persero) in 2019

No Date Agenda Item Participant Attendance Description

1. 3 January 2019 - Discussion on airports in North Bali Faik Fahmi Present - Discussion on a proposal for I Gusti Ngurah Rai Bali Airport to host the Wendo Asrul Rose Present Airport Council Internaitonal (ACI) Custumer Global Summit. Novrihandri Present - Presentation of consultant study related to the transfer of Defined Benefit Adi Nugroho Present Pension Program (PPMP) to the Defined Contribution Pension Program (PPIP). Sardjono Jhony Present - Proposed successor to the General Tjitrokusumo Manager of I Gusti Ngurah Rai Airport - Devy Suradji Present Bali. - Discussion of bonuses in 2018 Lukman F. Laisa Present (confidential and limited). - Others (discussion of advertisement of Jenderal Ahmad Yani Airport - Semarang).

2. 9 January 2019 - Proposed company work plan and Faik Fahmi Present budget (RKAP) in 2019. - Follow up on the long-term plan business Wendo Asrul Rose Present (RJPP). - Planning and expansion of the 2nd Novrihandri Present floor passenger check-in counter at the international terminal (Package IV) I Gusti Adi Nugroho Present Ngurah Rai Airport in Bali by Angkasa Pura Property. Sardjono Jhony Present - Presentation on expansion of the Tjitrokusumo terminal of Sam Ratulangi Airport in Devy Suradji Present Manado by a consultant (PT Penta). - Successor of General Manager of I Gusti Lukman F. Laisa Present Ngurah Rai Airport, Bali. - Others [commercial activities phase 2 of I Gusti Ngurah Rai Airport, Bali; operational and commercial readiness of Yogyakarta International Airport (YIA) in Kulon Progo]

3. 22 January - Additional equipment for immigration Faik Fahmi Present 2019 facilities at Angkasa Pura I airports. - Presentation of artwork design scheme Wendo Asrul Rose Present at Yogyakarta International Airport (YIA) and General Ahmad Yani Airport, Novrihandri Absent Leave Semarang by consultants. - Commercial and operational Adi Nugroho Present preparations of Yogyakarta International Airport (YIA). Sardjono Jhony Present - Progress of taking over of UPT airports Tjitrokusumo (APT Pranoto Airport in Samarinda, Devy Suradji Present Syukur Aminudin Amin Luwuk Airport in , and Sentani Airport in Lukman F. Laisa Present Jayapura). - Explanation on person in charge of utilization of idle land assets.

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No Date Agenda Item Participant Attendance Description

4. 28 January - Update on planned activities in Angkasa Faik Fahmi Present 2019 Pura I anniversary. - Update of the resolution of Hakaya Hotel Wendo Asrul Rose Absent Sick leave issue at Sultan Aji Muhammad Sulaiman (SAMS) Sepinggan Airport in Balikpapan. Novrihandri Absent Annual Leave - Performance management dissemination for Directors. Adi Nugroho Present - Discussion of proposals for successors at Vice President or General Manager level. Sardjono Jhony Present - Anticipation of reduced traffic at Sultan Aji Tjitrokusumo Muhammad Sulaiman (SAMS) Sepinggan Devy Suradji Present Airport in Balikpapan. Lukman F. Laisa Absent Official travel

5. 6 February - Submission of Decree (SK) on BoD of Faik Fahmi Present 2019 subsidiaries. - Public Accounting Firm (KAP) report on Wendo Asrul Rose Absent Sick Leave 2018 financial statements and the Ministry of Transportation’s Directorate General of Novrihandri Present Civil Aviation concession treatment. - Update on the resolution of the problems Adi Nugroho Absent Official travel of PT Sepinggan Sarana Utama, Hakaya Hotel in Balikpapan (explained by lawyer). Sardjono Jhony Present - Preparation of coordination meeting on Tjitrokusumo conservation area in the development of I Devy Suradji Present Gusti Ngurah Rai Airport in Bali. - Meeting PWC on holding SOE entity. Lukman F. Laisa Present - Program to take over UPT airports from the Ministry of Transportation.

6. 11 February - Information technology services in Angkasa Faik Fahmi Present 2019 Pura I projects. - Explanation of feasibility study on the Wendo Asrul Rose Present development of Terminal 3 (T3) project of Juanda Airport in Surabaya. Novrihandri Present - Masterplan of I Gusti Ngurah Rai Airport, Bali. Adi Nugroho Present - Proposal by Angkasa Pura Property and Angkasa Pura Supports on inhouse Sardjono Jhony Present maintenance. Tjitrokusumo - Meeting PWC on holding SOE entity. Devy Suradji Present

Lukman F. Laisa Present

7. 19 February - Progress of preparations for operations and Faik Fahmi Present 2019 services at Yogyakarta International Airport (YIA). Wendo Asrul Rose Present - Progress of information technology service in the Yogyakarta International Airport (YIA) Novrihandri Present project. - Progress on proposal of Angkasa Pura Adi Nugroho Absent Official travel Property and Angkasa Pura Supports on inhouse maintenance. Sardjono Jhony Present - Progress of taking over UPT airports from Tjitrokusumo the Ministry of Transportation. Devy Suradji Present - GVK. - Corrective action. Lukman F. Laisa Present - Cooperation at Lombok Airport in Praya.

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No Date Agenda Item Participant Attendance Description

8. March 2019 - Proyek Bandara Internasional Yogyakarta Faik Fahmi Present (YIA) - Kulon Progo. Wendo Asrul Rose Present

Novrihandri Present

Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

9. 19 March 2019 - Progress of takeover of UPT airports from Faik Fahmi Present the Ministry of Transportation. - Explanation on person in charge of the Wendo Asrul Rose Present utilization of idle land assets. - Update on General Ahmad Yani Airport Novrihandri Present Semarang project. - Update on Syamsuddin Noor Airport Adi Nugroho Present Banjarmasin project. - Holding SOE entity with air Sardjono Jhony Present transportation facilities and infrastuctue. Tjitrokusumo - Groundbreaking at Sultan Hasanuddin Devy Suradji Present Airport, Makassar. Lukman F. Laisa Present

10. 26 March 2019 - Selection of the customer service officer Faik Fahmi Present uniform design competition winner. - Transformation blueprint, alignment, Wendo Asrul Rose Absent Official cascading, organization. travel - Preparation for the operation of Yogyakarta International Airport (YIA). Novrihandri Present - Joint study on establishment of a holding with air transportation facilities and Adi Nugroho Absent Official insfrastructure. travel - Follow up on results of GCG assessment for Financial Year 2017. Sardjono Jhony Present - Other issues related to corrective action. Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

11. 8 April 2019 - Discussion on corrective action. Faik Fahmi Present - Explanation of updates on idle land assets. Wendo Asrul Rose Present - Appointment of a public appraisal service office (KJPP) in the holding SOE entity. Novrihandri Present - Road access to the new terminal of Syamsudin Noor Airport, Banjarmasin. Adi Nugroho Present - Others (organizing SOE anniversary) Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

12. 16 April 2019 - Discussion of corrective actions on Faik Fahmi Present declining financial performance. - Management report on realization of Wendo Asrul Rose Present company work plan and budget (RKAP) until March 2019. Novrihandri Present - Progress update of procurement transformation roadmap. Adi Nugroho Present - Continue discussion on progress update of procurement transformation roadmap. Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

13. 30 April 2019 - Strategic policy related to the case of PT Faik Fahmi Present Sepinggan Sarana Utama (SSU), owner of the Hakaya Hotel in Balikpapan. Wendo Asrul Rose Present - Discussion on airport concessions to the Ministry of Transportation. Novrihandri Present - Discussion on corrective actions on decreasing financial performance Adi Nugroho Present (revenue and costs). - Commercial management of SAMS Sardjono Jhony Present Sepinggan Airport, Balikpapan (2019- Tjitrokusumo 2024). Devy Suradji Present

Lukman F. Laisa Present

14. 8 May 2019 - Follow up on GVK subpoena related Faik Fahmi Present to payment of capacity study and new airport master plan. Wendo Asrul Rose Absent Official - Subpoena on cooperation in the travel Yogyakarta International Airport (YIA) development project. Novrihandri Present - Proposed principle permit on hotel at Syamsudin Noor Airport Banjarmasin by Adi Nugroho Absent Official Angkasa Pura Hotel. travel - Presentation on Bali phase 2 - Master concessionaire at SAMS Sardjono Jhony Present Sepinggan Airport, Balikpapan. Tjitrokusumo - Successor to Vice President of Information Technology. Devy Suradji Present - Strategic partnership at Lombok Airport, Praya. Lukman F. Laisa Present

15. 13 May 2019 - Accountability for the 2018 annual report. Faik Fahmi Present - Presentation on video wall and barrier gate in lobby of head office and cost Wendo Asrul Rose Present increase in renovating the head office lobby. Novrihandri Present - Finalization of discussion on inhouse maintenance. Adi Nugroho Present - Proposed remuneration for Board of Directors and Vice Presidents. Sardjono Jhony Present - Discussion on P4DP investigation Tjitrokusumo outcomes (confidential). Devy Suradji Present - Discussion of corrective actions on declining financial performance. Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

16. 28 May 2019 - Feasibility study of location and Faik Fahmi Present preparation of a new airport master plan in East Java Province. Wendo Asrul Rose Present - Flow and space function in the development of the terminal of Sultan Novrihandri Present Hasanuddin Airport, Makassar. - Demo of procurement system plan. Adi Nugroho Present - Presentation of content management platform. Sardjono Jhony Present - Resolution of GVK issue. Tjitrokusumo - Presentation of information technology Devy Suradji Present roadmap from Angkasa Pura Supports and Task Force - Digital Transformation Lukman F. Laisa Present Program.

17. 14 June 2019 - Video conference related to corrective Faik Fahmi Present action on declining performance. Wendo Asrul Rose Present

Novrihandri Present

Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

18. 18 June 2019 - Cooperation plan with the Directorate Faik Fahmi Present General of Immigration. - Discussion of corrective actions on Wendo Asrul Rose Absent decreasing financial performance (revenue and costs). Novrihandri Present - Discussion of performance in Quarter 1 2019. Adi Nugroho Absent - Proposal for the development of hotel in Yogyakarta International Airport (YIA) . Sardjono Jhony Present - Proposed successor one level below the Tjitrokusumo Board of Directors (confidential). - Progress of taking over cooperation at Devy Suradji Present new airport (Sentani Airport, Jayapura) Lukman F. Laisa Present

19. 25 June 2019 - Follow up related to GMS of subsidiaries Faik Fahmi Present (bonuses, remuneration and targets). - Strategic partnership at Lombok Airport, Wendo Asrul Rose Present Praya. - Discussion of corrective actions on Novrihandri Present declining financial performance. - Information technology roadmap. Adi Nugroho Present - Digital airport roadmap. Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

20. 2 July 2019 - Kick off meeting transformation project Faik Fahmi Present (transformation business, organization, and workforce of Angkasa Pura I towards a Wendo Asrul Rose Present global airport player). - Discussion of corrective actions on Novrihandri Present declining financial performance. - Strategic partnership at Lombok Airport in Adi Nugroho Present Praya - progress and timeline. - Completion of package design 1 for the Sardjono Jhony Present development project of Sultan Hasanuddin Tjitrokusumo Airport, Makassar. Devy Suradji Present - Follow up on GVK subpoena related to capacity study. Lukman F. Laisa Present - GVK subpoena related to the master plan of Yogyakarta International Airport (YIA). - Progress of establishing e-POS at I Gusti Ngurah Rai Airport, Bali and Jenderal Ahmad Yani Airport, Semarang. - Discussion on procurement transformation.

21. 8 July 2019 - Discussion of corrective actions on Faik Fahmi Present declining financial performance. - Preparation of BoD and BoC meeting: Wendo Asrul Rose Present operating and financial performance until May 2019. Novrihandri Present - Remuneration Adi Nugroho Present

Sardjono Jhony Present Official Tjitrokusumo travel

Devy Suradji Present

Lukman F. Laisa Present

22. 16 July 2019 - Resolution of GVK issue. Faik Fahmi Absent Official travel

Wendo Asrul Rose Present

Novrihandri Present

Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Absent Annual Leave

Lukman F. Laisa Present

23. 26 July 2019 - Preparation of BoD and BoC meeting: Faik Fahmi Present realization of RKAP until semester I of 2019, proposed revision of the exploitation and Wendo Asrul Rose Present investment of RKAP in 2019. - Discussion on design of the new terminal at Novrihandri Present Syamsudin Noor Airport, Banjarmasin. - Preparation for operations at Yogyakarta Adi Nugroho Present International Airport (YIA). Sardjono Jhony Presentv Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

24. 29 July 2019 - Preparation of BoD and BoC meeting: Faik Fahmi Present realization of RKAP semester 1 of 2019, proposed revision of the exploitation Wendo Asrul Rose Present and investment of RKAP 2019, strategic partnership at Lombok Airport, Praya. Novrihandri Present - Strategic procurement related to business process and discussion on Adi Nugroho Present e-procurement related to the Information Technology Division. Sardjono Jhony Present - Discussion of business and asset Tjitrokusumo valuations of PT Angkasa Pura I in Devy Suradji Present establishing holding aviation entity. Lukman F. Laisa Present

25. 8 August 2019 - Discuss on the concept of owned Faik Fahmi Present brand hotel of Angkasa Pura Hotel at Syamsudin Noor Airport, Banjarmasin. Wendo Asrul Rose Absent Official - Partnership at I Gusti Ngurah Rai Airport travel in Bali, phase 2. - Progress of preparation for “The 2nd ACI Novrihandri Present Customer Experience Global Summit 2019”. Adi Nugroho Present - Interior design concept of Terminal 1 (T1) Juanda Airport, Surabaya. Sardjono Jhony Present - Presentation on new East Java Airport. Tjitrokusumo - Preparation for full operations at Devy Suradji Present Yogyakarta International Airport (YIA). - ICT e-POS real time (service agent) Lukman F. Laisa Present

26. 21 August 2019 - Concept of owned brand hotel of Faik Fahmi Present Angkasa Pura Hotel. - Discussion of capital injection at Wendo Asrul Rose Present subsidiaries. - Progress on project management of Novrihandri Present Aeronautical Information Publication (AIP) and airport operation control center Adi Nugroho Present (AOCC/s) Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Absent Official travel

27. 12 September - Chronological description of Labuan Bajo Faik Fahmi Present 2019 Airport. - Appointment of Angkasa Pura Supports Wendo Asrul Rose Present related to airport operation control center (AOCC) and aeronautical information Novrihandri Present publication (AIP) at Yogyakarta International Airport (YIA). Adi Nugroho Present - Progress of Yogyakarta International Airport (YIA) project. Sardjono Jhony Present - Presentation on artwork and interior Tjitrokusumo design of terminal building at Devy Suradji Present Syamsuddin Noor Airport, Banjarmasin. - Update on RKAP revision in 2019. Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

28. 17 September - Meeting with Incheon Airport partners: Faik Fahmi Present 2019 presentation on Hang Nadim Batam Airport. Wendo Asrul Rose Present - Update on progress at Sentani Jayapura Airport. Novrihandri Absent Official - Relared discussion (career path, early travel retirement concept, Sentani Airport HR scheme). Adi Nugroho Present - Proposed company work plan & budget 2020. Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

29. 30 September - Resolution of common uses check-in Faik Fahmi Present 2019 – 1 system (CUCS) problems. October 2019 - Related to the establishment of holding, Wendo Asrul Rose Present authority on 5-year agreement, hotel construction of Angkasa Pura Hotel at Novrihandri Present Syamsudin Noor Airport, Banjarmasin. - Presentation on results of building audit. Adi Nugroho Present - Realization of RKAP 2019 (including subsidiaries) Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

30. 9 October 2019 - Proposal related to amendments to Faik Fahmi Present collective labor agreement (PKB) for 2019-2021. Wendo Asrul Rose Present - Report of subsidiaries: performance until September 2019 and work program Novrihandri Present targets to be achieved by December 2019. - Presentation on breakdown of non- Adi Nugroho Present aeronautical revenue (potential for increased income) and utilization of Sardjono Jhony Present potentially impaired assets. Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

31. 15 October - Report of subsidiaries: performance Faik Fahmi Present 2019 until September 2019 and work program targets to be achieved by December 2019. Wendo Asrul Rose Present - Service agent & common use check-in system (CUCS). Novrihandri Present

Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

32. 22 October - Explanation on enterprise architecture Faik Fahmi Present 2019 development. - Proposed RKAP 2020. Wendo Asrul Rose Present - Realization of key performance index (KPI) achievements in Quarter III 2019. Novrihandri Present - Report on the progress of the work of transforming business, organization, and Adi Nugroho Present workforce of Angkasa Pura I towards a global airport player by Korn Ferry. Sardjono Jhony Present - Discussion of successors to General Tjitrokusumo Manager, Vice President and Board of Devy Suradji Present Directors of subsidiaries (confidential). Lukman F. Laisa Present

33. 13 November - Progress report on key performance Faik Fahmi Present 2019 indicators (KPI) in 2019. - Proposed contribution to the selection of Wendo Asrul Rose Present domestic corridor of I Gusti Ngurah Rai Airport, Bali. Novrihandri Present - Final explanation on pros and cons of SITA Technology proposal by Adi Nugroho Present the Information Technology Team, Aeronautics Team and Angkasa Pura Sardjono Jhony Present Supports (for decision making). Tjitrokusumo - Angkasa Pura I website. Devy Suradji Present - Explanation on the comparison of data integration products (service agent/ Lukman F. Laisa Present e-POS). - Explanation on assessment of public appraisal service office (KJPP) related to LinkAja investment. - Others (Kelan Bay concept).

34. 20 November - Progress report on key performance Faik Fahmi Present 2019 indicators (KPI) in 2019. - Discussion of follow up to technical Wendo Asrul Rose Present meeting of proposed RKAP 2020 with shareholders. Novrihandri Present - Presentation material of work visit of Commission V and Commission VI of the Adi Nugroho Present Indonesian Parliament at I Gusti Ngurah Rai Airport Bali. Sardjono Jhony Absent Annual leave - Others (directives of the SOE Minister to Tjitrokusumo the President Director). Devy Suradji Present

Lukman F. Laisa Present

35. 26 November - Presentation on new East Java Airport. Faik Fahmi Present 2019 - Discussion of proposed RKAP 2020. - Guidelines for strategic partnership. Wendo Asrul Rose Present

Novrihandri Absent Official travel

Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

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No Date Agenda Item Participant Attendance Description

36. 3 December - Presentation on proposed RKAP 2020 Faik Fahmi Present 2019 (preparation for GMS). - Presentation on KPI in 2020. Wendo Asrul Rose Present - Payment for formation of Cooperation between the Government and Business Novrihandri Present Entity (PPP) consortium at Hang Nadim Airport, Batam. Adi Nugroho Present - Others Sardjono Jhony Present Tjitrokusumo

Devy Suradji Present

Lukman F. Laisa Present

37. 11 December - Discussion on performance and capital Faik Fahmi Present 2019 injection of subsidiaries. - Discussion on impairment of Wendo Asrul Rose Present unproductive assets. - Presentation on comprehensive review Novrihandri Present of SITA by the IT Team, Aeronautics Team, and Angkasa Pura Supports. Adi Nugroho Present - Presentation related to in-depth study of consortium for the management of Sardjono Jhony Present Hang Nadim Airport, Batam. Tjitrokusumo Devy Suradji Present

Lukman F. Laisa Present

38. 17 December - Update on implementation of Faik Fahmi Present 2019 transformation by consultant Korn Ferry. - Preparation for inauguration of the new Wendo Asrul Rose Present terminal of Syamsudin Noor Airport, Banjarmasin. Novrihandri Present - Presentation material for technical meetings with Deputy Minister of SOE. Adi Nugroho Present

Sardjono Jhony Present Tjitrokusumo

Devy Suradji Absent Official travel

Lukman F. Laisa Present

Frequency and Attendance of Board of Directors Meeting

During 2018, the Board of Directors held 36 of Commissioners and Board of Directors. The (thirty six) internal meetings, 3 (three) leadership frequency and attendance of meetings of the meetings, and 9 (nine) joint meetings of the Board respective Director are as follows:

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 325 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Frequency and Attendance of Board of Directors Meeting at PT Angkasa Pura I (Persero) in 2019

BoD Meeting Joint Meeting

Total Meeting and (%) Total Meeting and (%) Name Position Attendance Attendance

Total Total Total Total % % Meeting Attendance Meeting Attendance

Faik Fahmi President Director 38 37 97,37 12 8 66,67

Wendo Asrul Rose Director of Operations 38 34 89,47 12 7 58,33

Novrihandri Director of Finance 38 33 86,84 12 10 83,33

Adi Nugroho Director of HR and General 38 35 92,11 12 7 58,33 Affairs

Lukman F. Laisa Director of Technical Affairs 38 36 94,74 12 7 58,33

Devy Suradji Director of Marketing and 38 36 94,74 12 8 66,67 Services

Sardjono Jhony Director of International 38 36 94,74 12 7 58,33 Tjitrokusumo Relations and Business Development

Decisions and Implementation of Duties of the Board of Directors

During 2019, the Board of Directors carried out 7. Supervising and improving internal business its duties and responsibilities by making various processes, including following up on the strategic decisions as follows: findings of Internal Audit and external auditors. 1. Establishing the new vision and mission 8. Resolving the Company problems, especially statements of PT Angkasa Pura I (Persero). legal issues being faced by the Company. 2. Conducting corporate planning and 9. Supervising the performance and problems of formulation of the Company Long-Term subsidiaries. Business Plan. 10. Implementing other tasks related to company 3. Meeting the performance targets of the management. company based on financial, operational and administrative aspects. From the implementation of the above duties, 4. Developing the Company Business, among the Board of Directors issued several decisions others through the development of several and recommendations set forth in decrees in airports in Banjarmasin, Semarang and accordance with its authority and responsibilities, Yogyakarta. among others, as presented in the following table. 5. Formulating corrective actions and revenue enhancement measures to deal with a decline in traffic. 6. Organizing Board of Directors Meetings, attending Joint Meetings with the Board of Commissioners, and GMS.

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Board of Directors Decrees of PT Angkasa Pura I (Persero) in 2019

No Decree Number Date Subject

1. SKEP.07/KB.08/2019 18 January 2019 Alignment of Work Program 2019 for Director of Marketing and Services

2. SKEP.09/KU.11/2019 28 January 2019 Corporate Funding Team Through Financial Institution Loans in PT Angkasa Pura I (Persero)

3. SKEP.10/HM.02/2019 1 February 2019 Selection of the Airport Ambassador for 2019

4. SKEP.40/HM.02/2019 8 February 2019 Management of Information and Documentation by PPID within PT Angkasa Pura I (Persero)

5. SKEP.44/KP.10/2019 15 February 2019 Religious Festivity Allowance 2019

6. SKEP.74/KU.01.01/2019 27 February 2019 Committee to Prepare RKAP on Investment of PT Angkasa Pura I (Persero) in 2020

7. SKEP.82/KP.14/2019 19 March 2019 The Committee for Supervision and Investigation of Employee Disciplinary Violations (P4DP) at Head Office

8. SKEP.87/PL.07/2019 27 March 2019 Amendment to SKEP.193/2018 on Write-Off of Unproductive Fixed Assets of PT Angkasa Pura I (Persero)

9. SKEP.99/TK.09/2019 16 April 2019 Extension of Technical Team for Monitoring and Evaluating Airport Runway within PT Angkasa Pura I (Persero)

10. SKEP.103/DL.04.02/2019 25 April 2019 Airport Officer Management Training Batch V 2019

11. KEP.105/KB.03/2019 26 April 2019 Terminal Entrance Fee at Yogjakarta International Airport

12. SKEP.106/KB.03.05/2019 30 April 2019 Terminal Entrance Fee at Ngurah Rai Airport, Bali

13. SKEP.109/OM.04/2019 3 May 2019 Performance Excellence Evaluation Criteria (KPKU) Implementation Team 2019

14. SKEP.111/OM.04/2019 7 May 2019 Guidelines for the Company’s Code of Conduct

15. KEP.114/OM.02.08/2019 13 May 2019 Guidelines for Making Commercial Agreements Using Generate Legal

16. KEP.130/OM.02.06/2019 14 June 2019 Guidelines for Commercial Activities of SBU of Ngurah Rai Airport, Bali

17. SKEP.142/OM.04/2019 9 July 2019 Human Capital Information System (HCIS) Development Team

18. SKEP.144/OM.01/2019 12 July 2019 Guidelines for Work Procedures of the Board of Directors and the Board of Commissioners

19. SKEP.150 1 August 2019 Selection Team for Commercial Area of Master Concession of Sepinggan Airport

20. SKEP.161/OM.01/2019 28 August 2019 Innovation Implementation Team in PT Angkasa Pura I (Persero)

21. KEP.166/OM.01.01/2019 30 September 2019 Amendment to KEP.86/2019 Concerning Guidelines for Implementing Duties and Responsibilities

22. KEP.167/KP.04/2019 7 October 2019 Employee Training and Development Pattern in PT Angkasa Pura I (Persero)

23. SKEP.180 7 November 2019 Terminal and Facilities Expansion Team in Manado Airport

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Board of Directors Decrees of PT Angkasa Pura I (Persero) in 2019

No Decree Number Date Subject

24. KEP.204/KU.13/2019 23 December 2019 Guidelines for Corporate Social Responsibility (CSR) Program in PT Angkasa Pura I (Persero)

25. SKEP.200 23 December 2019 PJP4U and PJP2U Tariffs at Check-in Counter in Sentani Airport Jayapura

26. KEP.208/KB.08/2019 28 December 2019 PJP2U Tariff for Domestic and Overseas Air Transport at Semarang Airport

27. KEP.212/HK.01.01/2019 31 December 2019 Amendment to KEP.69/2018 concerning Guidelines for Violations Reporting System

Performance Evaluation of Board of Directors

The performance of Board of Directors is 1. Finance and Markets; periodically evaluated based on Key Performance 2. Customer Focus; Indicators (KPI) that have been approved by 3. Effectiveness of Products and Processes; Shareholders through a Management Contract. 4. Workforce Focus; In addition, performance evaluation of the board 5. Leadership, Governance and Social of directors is also carried out through the GCG Responsibility; and assessment approach. 6. Agent of Development.

Performance Evaluation of the Board The performance of the Board of Directors was of Directors Based on KPIs assessed by shareholders at the GMS at the Performance evaluation of the Board of Directors time when the Board of Directors submitted the based on KPIs is conducted with reference to accountability report for its performance in 2019. the Ministry of SOE Letter No. S-08/S.MBU/2013 The results of the performance evaluation based dated January 16, 2013 and is in accordance on the 2019 KPIs are shown in the following table. with the directive of Shareholder Aspiration No. S-487/MBU/08/2017 dated August 31, 2017. The performance evaluation indicators for Board of Directors include:

Performance Evaluation of the Board of Directors Based on Key Performance Indicators of PT Angkasa Pura I (Persero) in 2019

Achievement Score Key Performance Indicator Weight Score

Finance and Markets 20,00 17,50

Customer Focus 20,00 20,68

Effectiveness of Products and Processes 17,00 10,72

Workforce Focus 16,00 16,70

Leadership, Governance and Social Responsibility 15,00 15,00

Agent of Development 10,00 9,75

Weight 100,00 90,35

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Performance Evaluation Based on GCG Assessment Besides KPIs, the performance of the Board 11. Execution of quality and effective internal of Directors is also evaluated based on GCG supervision. assessment. In this regard, PT Sierra Bisnis 12. Execution of quality and effective Corporate Konsulting, an independent external party, Secretary functions. conducted the performance evaluation through 13. Holding the Annual GMS and other GMS GCG assessment. The implementation of in accordance with the prevailing laws and evaluation was conducted with reference to regulations. the Secretary of Ministry of SOEs Decree No. SK- 16/S.MBU/2012 dated June 6, 2012 concerning Based on the evaluation criteria, the performance Assessment and Evaluation Indicators/Parameters of the Board of Directors in 2018 obtained a score of for the Implementation of Good Corporate 33.60 with 95.99% achievement and the predicate Governance at SOEs. of ‘very good’. This achievement indicated an increase from the previous year as the Board of The evaluation criteria for the performance of the Directors made improvements to the criteria as Board of Directors based on GCG assessment follows: had clear division of duties/functions, include: authorities and responsibilities, prepared corporate 1. Implementation of training/learning programs plans, and implemented operational and financial for the Board of Directors. controls on the execution of company plans and 2. Clear division of duties/ functions, authorities policies. In addition, the Board of Directors also and responsibilities of the Board of Directors. implemented value-added relationships for the 3. Preparation of corporate plans. company and stakeholders. The GCG performance 4. Fulfillment of the company performance is deemed very good/good in terms of monitoring targets. and managing the potential conflict of interests 5. Implementation of operational and financial of members of the Board of Directors and control on the implementation of company management under the Board of Directors, and plans and policies. the execution of a quality and effective corporate 6. Implementation of the company management secretary functions. Further, GCG performance in accordance with the applicable laws and that needs attention and improvement is related regulations and the Articles of Association. to the availability of guidelines and procedures for 7. Implementation of value-added relationships control and confidentiality of information. for the company and stakeholders. 8. Monitoring and management of potential conflicts of interest of members of the Board of Directors and management under the Board of Directors. 9. Implementation of information and communication disclosure, and the delivery of information to the Board of Commissioners and Shareholders in a timely manner. 10. Holding of Board of Directors meetings and attendance at Board of Commissioners meetings.

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Performance Evaluation of Committees Under the Board of Directors, Internal Audit Unit, Compliance & Risk Management Unit, and Other Work Units

In carrying out its duties, the Board of Directors Besides the Risk Management Committee, the is assisted by the Risk Management Committee, Internal Audit Unit and the Compliance & Risk which is directly responsible under the Board of Management Unit also support the Board of Directors. In 2019, this Committee assisted the Directors. In accordance with its annual evaluation Board of Directors to implement evaluation of risk based on KPIs, the Internal Audit Unit has delivered management policies and conducted a review a fairly good performance, namely by being able of the Roadmap for the Implementation of the to follow up 445 out of 449 recommendations Company Risk Management. In addition, the Risk from the total operational examinations in 2019, Management Committee also held a meeting in or 99%. On the other hand, the Compliance October 2019 which discussed the agenda items & Risk Management Unit assisted the Board of proposal of determination of the Company risk of Directors through the implementation of a tolerance, refreshing Risk Management Guidelines management maturity assessment system. In KEP.176/OM.02.05/2018, as well as discussion of the 2019, the Company’s risk management maturity Company strategic risks. Throughout the reporting level achieved a score of 3.37 from a scale of 5. In period, the Board of Directors considered that general, all levels of the Company’s management the Risk Management Committee carried out its have recorded good performance, as seen in the duties and responsibilities appropriately. Company’s KPI score of 90.27 from the target of 100.00.

Diversity of Board of Commissioners and Board of Directors

Policy on Composition Diversity of the Board of Commissioners and Its Implementation

The Minister of SOE Regulation No. PER-02/ different educational backgrounds, experience MBU/02/2015 concerning Requirements and and expertise in accordance with the needs of the Procedures for Appointment and Dismissal Company. of Members of Board of Commissioners and In 2019, PT Angkasa Pura I (Persero) was fully aware Supervisory Board of SOE provides a reference that all members of the Board of Commissioners for PT Angkasa Pura I (Persero) to ensure diversity were males. The company can ensure that this of the Board of Commissioners and Board of was not intentional, but rather caused by the lack Directors. of females interested in working in the airports industry. The process of selecting the Board of Commissioners does not distinguish the backgrounds of the The composition diversity of members of the Board identity of candidates, but prioritizes quality and of Commissioners in 2019 can be seen further as competency considerations. Related to the aspect follows. of diversity, PT Angkasa Pura I (Persero) I strives for the members of Board of Commissioners to have

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Diversity of Board of Commissioners in PT Angkasa Pura I (Persero) in 2019

No Name Position Gender Education Level Experience and Expertise

1 Djoko Sasono President Male Doctorate, Transportation Spatial planning, infrastructure, Commissioner Planning and Policy transportation systems, land (Urban Engineering) transportation, planning and development

2 Harry Z. Soeratin Commissioner Male Doctorate, Business and Finance, social counseling Commerce

3 Suprasetyo Commissioner Male Bachelor of Chemical Air transportation, quality control, Engineering flight safety, emergency services

4 Ali Mochtar Ngabalin Commissioner Male Doctorate Political communications, public policy

5 Tri Budi Satriyo Commissioner Male Master of Management Indonesian Air Force, airspace security

Policy on Diversity in the Composition of the Board of Directors and Its Implementation

The policy on diversity of the Board of Directors PT Angkasa Pura I (Persero) also ensures diversity is implemented in PT Angkasa Pura I (Persero) of the Board of Directors in accordance with the based on Minister of SOE Regulation No. PER- needs of operational strategy, risk management 01/MBU/2012 concerning Requirements and and business development of the Company. Procedures for Appointment and Dismissal of Members of Board of Directors at SOEs. This As of 2019, PT Angkasa Pura I (Persero) considered regulation requires prospective candidates for that the number of female professionals working members of the Board of Director to fulfill the in the airport industry was far lower than ther male criteria, such as experience, expertise, integrity, counterparts. As a result, the composition of the leadership, and high dedication to the airport Board of Directors as of end-2019 was entirely male industry, particularly in developing PT Angkasa in terms of gender. PT Angkasa Pura I (Persero) Pura I (Persero). ensures that this is not the result of discriminatory policies, but is based on selection carried out in a The selection, determination and appointment of professional manner. the Board of Directors are not based on identity considerations, but rather emphasize the ability and The following table shows the diversity of members expertise as well as the ethics of individual behavior. of the Board of Directors in 2019.

Diversity of Board of Directors in PT Angkasa Pura I (Persero) in 2019

No Name Position Gender Education Level Experience and Expertise

1 Faik Fahmi President Male Bachelor of Economics Aviation services, commercial Director and business development, port business activities

2 Novrihandri Director of Male Master of Management Accounting, finance, business Finance development, human resources

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 331 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Diversity of Board of Directors in PT Angkasa Pura I (Persero) in 2019

No Name Position Gender Education Level Experience and Expertise

3 Devy Suradji Director of Female Master of Management, competency Marketing and Environmental development, marketing, Services Health Management communications, airport development

4 Wendo Asrul Rose Director of Male Bachelor of Airport operationalization, airport Operations Mechanical technical supervision Engineering

5 Lukman F. Laisa Director of Male Bachelor of Civil Civil engineering, airport Technical Affairs Engineering construction, planning, air transportation

6 Adi Nugroho Director of HR & Male Doctorate of Service Commercialization, business General Affairs Management development, project analysis

7 Sardjono Jhony Director of Male Aviation College Airplane flight, business Tjitrokusumo Business management and airline Development operations, entrepreneurship in aviation service industry

GCG Assessment

Every year, PT Angkasa Pura I (Persero) conducts the GCG assessment. The objective is to determine the achievements of GCG activities and aspects that need to be improved to enhance the effectiveness and quality of corporate governance.

Assessment Criteria Assessor GCG assessment is carried out based on the In 2019, GCG assessment of PT Angkasa Pura I assessment criteria or indicators stipulated in the (Persero) for Financial Year 2018 was carried out by Secretary of Ministry of SOE Decree No. SK-16/S. PT Sierra Bisnis Konsulting. MBU/2012 dated June 6, 2012 concerning Indicators/ Parameters of Assessment and Evaluation for the Assessment Score Implementation of Good Corporate Governance The assessment for Financial Year 2018 indicated at SOEs. The criteria and indicators include the that PT Angkasa Pura I (Persero) has succeeded in following aspects: increasing GCG implementation with satisfactory 1. Commitment to the implementation of Good results. The GCG assessment results of PT Angkasa Corporate Governance on an ongoing basis; Pura I (Persero) in the last 5 (five) years are as 2. Shareholders and GMS/Capital Owners; follows. 3. Board of Commissioners/ Supervisory Board; 4. Board of Directors; 5. Disclosure of information and transparency; and 6. Other aspects.

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GCG Assessment Results of PT Angkasa Pura I (Persero) in 2015 – 2019

GCG Assessment GCG Assessment Year Category Assessor Score

2019 91,58 Excellent PT Sierra Bisnis Konsulting

2018 91,34 Excellent PT Sierra Bisnis Konsulting

2017 90,85 Excellent PT Bumi Pertiwi Mandiri

2016 90,83 Excellent PT Adikarya Gemilang Solusindo

2015 90,46 Excellent PT Bumi Pertiwi Mandiri

The results of GCG assessment for each indicator for Financial Year 2018 conducted in 2019 is presented in more detail as follows.

GCG Assessment of PT Angkasa Pura I in 2019

Achievement No Criteria Weight Score (%)

1. Commitment to Sustainable Implementation of Good 7 6,21 88,77 Corporate Governance

2. Shareholders and GMS/Capital Owners 9 8,02 89,11

3. Board of Commissioners 35 34,14 97,55

4. Board of Directors 35 33,60 95,99

5. Disclosure of Information and Transparency 9 7,11 79,03

6. Other Aspects 5 2,50 50,00

Total Score 100 91,58 91,58

GCG Implementation Quality Excellent

The implementation of GCG assessment indicates However, while the GCG assessment has shown high scores related to the aspects of the Board of improvements, PT Angkasa Pura I (Persero) needs Commissioners with the achievement of 97.55% to make further enhancements so as to obtain and the Board of Directors with the achievement an accurate overview of governance conditions of 95.99%. The overall excellent achievement has within the organization as information or input been affected by the Board of Commissioners for Shareholders, Board of Commissioners and and Board of Directors aspects with the highest Board of Directors in making important decisions, weight as compared to other aspects, where the especially on enhancing GCG implementation in assessment of these two aspects had a significant the future. The areas for improvement are listed in effect on the achievement score. the Recommendations and Follow-Ups section.

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Recommendations and Follow-Ups

Apart from the GCG assessment which has shown followed up on recommendations from the encouraging results, PT Angkasa Pura I (Persero) assessors in an effort to improve management continues to strive to improve GCG implementation processes. Some of the recommendations received in the future. The Company has received and during 2019 are as follows.

Rekomendasi dan Tindak Lanjut hasil GCG Assessment PT Angkasa Pura I (Persero) Tahun 2019

No Recommendation Follow-Up

1. Appoint a member of Board of Directors as the The Director of Finance has been appointed as the person person responsible for implementing and monitoring responsible for implementing and monitoring GCG within GCG within the scope of the Board of Directors and the scope of Board of Directors and management. management.

2. Prepare guidelines and/or procedures on control and Accommodated through Board of Directors Decree No. confidentiality of Company information. KEP.11/OM.02.08/2020 concerning PT Angkasa Pura I (Persero) Public Information Services Guidelines.

3. Determine job descriptions for members of the Board Draft Board of Directors Decree was under preparation of Directors who are responsible for implementing regarding person in charge of GCG implementation. and monitoring GCG within the scope of the Board of Directors and management.

4. Sign commitments to comply with Guidelines on Signatures of the Board of Commissioners and Board Company Code of Conduct. Directors have been compiled for inclusion in the Document of Enforcement of the Company Code of Conduct.

5. Ratify the Guidelines for Gratification Control through The Guidelines for Gratification Control are being refined joint decree of the Board of Commissioners and and to be re-submitted for ratification as a joint decree of Board of Directors. the Board of Commissioners and Board Directors.

6. Prepare Internal Control Guidelines. Under process of drafting Internal Control Guidelines .

7. Improve compliance with applicable laws and Compliance level increased from 93% to 95% in Semester regulations and improve the culture of compliance in II of 2019. the Company.

8. Prepare guidelines and/or procedures for mentoring Under process of drafting guidelines and/or procedures subsidiaries. for mentoring subsidiaries.

9. Complete guidelines and/or procedures for all the Quality procedures for the main business activities of the main business activities in the Company. Company have been completed.

10. Complete all of the Company’s managed airports Certification process has been completed. with occupational safety certification.

11. Certify all equipment related to occupational health Certification process has been completed. and safety at branch offices.

12. Prepare and/or align the Airports Long-Term Plan Waiting for feedback from branch offices on the draft (RJPB) for respective Company’s managed airports RJPB. with the Long-Term Business Plan (RJPP).

13. Prepare guidelines, procedures and/or work 1. Under process of preparing the KPI guidelines draft for instructions regarding performance evaluation or KPI the work units. of work units and individuals. 2. Individual KPIs have been accommodated under Board of Directors Decree No. KEP.70/OM.02.05/ 1013 concerning Performance Management System (PMS) of PT Angkasa Pura I (Persero).

14. Fill vacancies in structural positions in branch offices. Under process of filling various positions through draft Board of Directors SKEP, and other positions are being discussed with the Mentoring Unit.

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No Recommendation Follow-Up

15. Complete licensing for all employees in branch A request has been submitted to the Training & offices, who in carrying out their respective duties and Development Unit to include prospective candidates responsibilities require licenses from the competent in the initial training before the relevant persons are authorities. appointed as prospective employees.

16. Provide an information system that accommodates Accommodated through the use of learning applications proposals independently regarding the requirement such as LMS e-Learning Angkasa Pura I; CBT XScreer; CBT for education and training of employees in fulfilling Pro; APLICON; APLIX; and APKNOW. their respective responsibilities and tasks.

17. Formally determine the results of workload analysis Will issue the procedures for workload analysis calculations calculations.through Board of Directors Decree . through the Board of Directors Decree.

18. Provide data access for Head Office and branch office Accommodated in the academic calendar. work units concerning education and training data that shall be participated by all employees, to facilitate education and training planning.

19. Instruct all employees who attended education and Accommodated through Board of Directors Decree No. training both internally and externally to carry out KEP.167/KP.04/2019 concerning Scheme of Employee knowledge transfer in their respective work units. Training and Development at PT Angkasa Pura I (Persero).

20. Arrange and administer handover of a position 1. Hold inauguration of officials every time there is a satisfactorily in the process of changing structural change (mutation/rotation) of position officials. 2. Require employees who are being rotated/mutated/ promoted to submit Minutes of Position Handover in accordance with the Board of Directors circular

21. Complement all of the Company’s core activities or Accommodated through the HCIS application. business with the required information technology systems (application systems).

22. Compile a list of fixed assets or identify in the current Data grouping will be carried out for mandatory assets in list of fixed assets on equipment at branch offices the company asset list which according to the laws and regulations must be in good running order, to facilitate monitoring of the availability and condition of each equipment.

23. Conduct assessment or evaluation of the effectiveness Assessment will be carried out after the Internal Control of corporate internal control. Guidelines are completed by the Risk Management Unit.

24. Follow up on all findings of SPI audit. Complete the quarterly report on follow-up of findings in 2018.

25. Conduct quality assurance measurements on SPI In the process of ToR preparation for selection of consultant (evaluate the quality and performance of SPI to be to conduct the assessment. compared with professional standards and best practices).

26. Resolve ongoing claims, disputes or problems related Resolved ongoing disputes or problems related to to business transactions with other parties or partners. business transactions with other parties or partners.

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Remuneration Policy of the Board of Commissioners and Board of Directors

Remuneration of the Board of Commissioners and Government regulations, the remuneration policy Board of Directors is realized with reference to the considers several aspects of the Company financial provisions of Minister of SOE Regulation No. PER- performance, such as short-term and long- 06/MBU/06/2018 dated June 4, 2018 concerning term liquidity requirements, capital adequacy Third Amendment to Minister of SOE Regulation and strengthening, and financial stability. The No. PER-04/MBU/2014 concerning Guidelines for remuneration policy is also determined based on Determining the Income of Board of Directors, the effectiveness of risk management, as well as Board of Commissioners, and Supervisory Board potential revenue in the future. at SOEs. In addition to taking into account to

Remuneration of the Board of Commissioners

Proposal and Determination of Shareholders and Controllers, to be then ratified Remuneration Procedure of the Board through the GMS mechanism. of Commissioners Proposal and determination of remuneration Indicators for Determination of procedure of the Board of Commissioners adheres Remuneration of the Board of to the provisions of the Minister of SOE regulation Commissioners and based on instruction of the GMS. In general, Based on Minister of SOE Regulation No. PER-06/ the remuneration rate is proposed by the Board of MBU/06/2018 dated June 4, 2018, indicators for Commissioners based on considerations prepared determining remuneration of members of the by the Nomination and Remuneration Committee. Board of Commissioners are as follows: 1. Business scale; PT Angkasa Pura I (Persero) responds to other 2. Business complexity; regulations governing corporate governance 3. Inflation ate;r as SOEs, specifically SOE Ministerial Regulation 4. Financial situation and capacity of the No. PER-12 / MBU / 2012 concerning Supporting Company; and Organs for the Board of Commissioners / BUMN 5. Other relevant factors that do not conflict with Supervisory Board. applicable laws and regulations.

At the time this report was published, dated April Remuneration Structure of Members of 22, 2020, PT Angkasa Pura I (Persero) formed the Board of Commissioners a Nomination and Remuneration Committee The remuneration structure of the Board of as stipulated in the Decree of the Board of Commissioners has been determined as follows. Commissioners No. KEP.05 / DK.AP.I / 2020. The remuneration proposal is forwarded to the Main

Remuneration Structure

No Income Type Determination Description

1. Honorarium Rp 101.250.000,-/month (45% of a. President Commissioner: 100% President Director). b. Commissioner: 90% of President Commissioner

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Remuneration Structure

No Income Type Determination Description

2. Allowance

Religious Festivity 1 (one) month of Honorarium. In accordance with PER-04/MBU/2014 Allowance as amended for the last time by PER-01/ MBU/05/2019.

Transportation 20% of Honorarium. In accordance with PER-04/MBU/2014 Allowance as amended the last time by PER-01/ MBU/05/2019.

Post-Employment Insurance premium not exceeding In accordance with PER-04/MBU/2014 Insurance 25% of Honorarium. as amended the last time by PER-01/ MBU/05/2019.

3. Facilities Health insurance or reimbursement of In accordance with PER-04/MBU/2014 treatment at cost. as amended the last time by PER-01/ MBU/05/2019.

Health Facility For financing law office/legal In accordance with PER-04/MBU/2014 consultant services which include as amended the last time by PER-01/ the investigative process if named MBU/05/2019. as witness, suspect or defendant in a judicial case.

4. Performance Bonuses/ Incentives

Bonus/ Incentive To provide bonuses of Rp President Commissioner: 45% of the bonus of 48,000,000,000 for the Board of the President Director. Commissioner: 90% of Directors and Board of Commissioners. the bonus of the President Commissioner. Distributed proportionally in accordance with the active working period. Taxes on bonuses are borne individually and not the Company.

Long Term Incentive Not provided.

There are no performance bonuses, non-performance bonuses, and stock options received by members of the Board of Commissioners nOmInAl AmOunT AnD remunerATIOn COmPOnenT Of BOArD Of COmmIssIOners The total remuneration for respective member of the Board of Commissioners realized for Financial Year 2019 is as follows.

Remuneration of the Board of Commissioners in 2019

Religious Insurance Communications Mobility Bonus for Total for the Name Position Honorarium Festivity Premium Allowance Allowance 2018 Year Allowance

Djoko President 78.750.000 19.687.500 3.937.500 15.750.000 78.750.000 - 669.375.000 Sasono Commissioner

Tri Budi Commissioner 70.875.000 17.718.750 3.543.750 14.175.000 70.875.000 - 708.750.000 Satriyo

Suprasetyo Commissioner 70.875.000 17.718.750 3.543.750 14.175.000 70.875.000 1.102.131.406 2.160.977.650

Harry Z. Commissioner 70.875.000 17.718.750 3.543.750 14.175.000 70.875.000 - 1.346.625.000 Soeratin

Ali Mochthar Commissioner 70.875.000 17.718.750 3.543.750 14.175.000 70.875.000 - 602.437.500 Ngabalin

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Remuneration Policy of the Board of Directors

Procedure for Determination of Commissioners No. KEP.05 / DK.AP.I / 2020. The Remuneration Board of Commissioners of PT Angkasa Pura I Determination of Remuneration for Directors (Persero) forwarded the remuneration proposal follows the provisions of the SOE Ministerial to the Major and Controlling Shareholders, to be Regulation and following the GMS direction. ratified through the GMS mechanism. The proposed amount of remuneration for the Board of Directors is submitted by the Board of Remuneration Structure of Members of Commissioners, which carries out the nomination the Board of Directors and remuneration functions. The remuneration structure of the Board of Directors has been determined as follows. At the time this report was published, dated April 22, 2020, PT Angkasa Pura I (Persero) had formed a Nomination and Remuneration Committee as stipulated in the Decree of the Board of

Remuneration Structure of PT Angkasa Pura I (Persero) Board of Directors

No Type of Remuneration/Facilities Description

1. Income President Director: 100%

Director: 90% of President Director

2. Allowance

Religious Festivity Allowance Members of the Board of Directors are provided with religious festivity allowance of 1 (one) time of salary every year.

Housing Members of the Board of Directors are provided with housing benefit of 40% of salary to a maximum of Rp 27,500,000.

Post-Employment Insurance • Provided for the term of office. • Premiums are borne by the company to a maximum of 25% of salary in 1 year. • Selection of program for post-employment insurance is determined by the individual member of Board of Directors coordinated by the unit that manages the facilities and benefits of members of the Board of Directors and members of the Board of Commissioners. • The provision of premium, contribution or other relevant terms for post-employment insurance includes premium for accident and life insurance.

3. Facilities

Official Vehicle a. Members of the Board of Directors are only entitled to 1 (one) official vehicle from the Company. b. Official ehiclev facility including maintenance and operational costs are provided with due regard to the Company’s financial situation. c. Official ehiclev specifications and standards are determined by the Minister. d. Members of Board of Directors who are no longer serving must return official vehicles to the Company no later than 30 (thirty) days after not serving.

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Remuneration Structure of PT Angkasa Pura I (Persero) Board of Directors

No Type of Remuneration/Facilities Description

3. Health a. Health facilities are provided in the form of health insurance or medical reimbursement. b. Health facilities are provided to members of the Board of Directors and their husbands/wives and a maximum of 3 (three) children under the age of 25 (twenty-five) years, and if the children under 25 years have married or have worked, then they are not entitled to receive health benefits. c. Health facilities are provided in the form of: 1). Outpatient and medication services. 2). Inpatient and medication services. 3). Medical check-ups with the provision of 1 (one) time every year and is performed domestically. d. If the treating doctor provides a referral for treatment abroad, health benefits are provided in full or in part by taking into account the Company’s capacity.

4. Legal Assistance a. Legal assistance for members of the Board of Directors is provided in the event of an action taken for and on behalf of the members of Board of Directors with the purpose and objective as well as business of the Company. b. This facility is provided in the form of financing for law office/legal consultant which includes the investigative process if named as witness, suspect and defendant in a court. c. Payment for legal services can be made to 1 (one) law office/legal consultant for 1 (one) specific case. d. The appointment of a law office/legal consultant is conducted by the Company in accordance with procurement provisions of the Company.

5. Official Residence In the event that the Company provides an officlal residence to members of Board of Directors, the concerned persons must use the official residence as a housing facility and the concerned persons shall not be provided with housing benefit.

There are no performance bonuses, non-performance bonuses, and stock options received by the Board of Directors

Indicators for Determination of Remuneration of Nominal Amount/Remuneration Component of the Board of Directors Board of Directors Based on Minister of SOE Regulation No. PER-06/ The remuneration amount for respective member MBU/06/2018 dated June 4, 2018, indicators for of the Board of Directors realized for Financial Year determination of remuneration of the Board of 2019 is as follows. Directors include: 1. Business scale; 2. Business complexity; 3. Inflation rate; 4. Financial situation and capacity of the Company; and 5. Other relevant factors that do not conflict with applicable laws and regulations.

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Nominal Amount/Remuneration Component of Board of Directors of PT Angkasa Pura I (Persero)

Religious Utility Insurance Bonus for Total for 1 Name Position Income Festivity Allowance Premium 2018 Year Allowance

Faik Fahmi President 175.000.000 27.500.000 43.750.000 202.500.000 71.613.674 3.229.113.674 Director

Wendo Asrul Director of 148.750.000 27.500.000 37.187.500 176.250.000 2.713.215.145 5.468.715.145 Rose Operations

Novrihandri Director of 148.750.000 27.500.000 37.187.500 176.250.000 2.713.215.145 5.468.715.145 Finance

Adi Nugroho Director of HR 148.750.000 27.500.000 37.187.500 176.250.000 2.713.215.145 5.468.715.145 and General Affairs

Lukman F. Director of 148.750.000 27.500.000 37.187.500 176.250.000 - 2.310.625.000 Laisa Technical Affairs

Devy Suradji Director of 148.750.000 27.500.000 37.187.500 176.250.000 64.942.531 2.802.442.531. Marketing and Services

Sardjono Director of 148.750.000 27.500.000 37.187.500 176.250.000 1.057.244.572 3.794.744.572 Jhony Business Tjitrokusumo Development

Disclosure of Shareholders

Share Ownership of the Board of Commissioners

In line with the implementation of GCG principles, The disclosures also aim to avoid conflicts of the Board of Commissioners is required to disclose interest related to the position and authority the ownership of personal and family shares possessed by the Board of Commissioners. Details in the Company and in other companies and of share ownership of the Board of Commissioners changes thereof to PT Angkasa Pura I (Persero). in 2019 are as follows.

Share Ownership of the Board of Commissioners of PT Angkasa Pura I (Persero) per 31 December 2019

Share Ownership of the Board of Commissioners (Total Shares) in Position Position PT Angkasa Pura I (Persero) Other Companies

Djoko Sasono President Nil Nil Commissioner

Tri Budi Satriyo Commissioner Nil Nil

Suprasetyo Commissioner Nil Nil

Harry Z. Soeratin Commissioner Nil Nil

Ali Mochthar Ngabalin Commissioner Nil Nil

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Share Ownership of the Board of Directors

As with the Board of Commissioners, members conflicts of interest. The following table provides of the Board of Directors are required to disclose detailed data on share ownership of the Board of private and family share ownership in PT Angkasa Directors in 2019. Pura I (Persero) or other companies to avoid

Share Ownership of Board of Directors of PT Angkasa Pura I (Persero) per 31 December 2019

Share Ownership of the Board of Directors (Total Shares) in Nama Jabatan PT Angkasa Pura I (Persero) Other Companies

Faik Fahmi President Director Nil Nil

Wendo Asrul Rose Director of Operations Nil Nil

Novrihandri Director of Finance Nil Nil

Adi Nugroho Director of HR and Nil Nil General Affairs

Lukman F. Laisa Director of Technical Nil Nil Affairs

Devy Suradji Director of Marketing and Nil Nil Services

Sardjono Jhony Director of Business Nil Nil Tjitrokusumo Development

Affiliate Relationship

PT Angkasa Pura I (Persero) complies with Board of Directors and members of the Board regulatory requirements to disclose the affiliate of Commissioners. relationship between the Board of Commissioners 3. Affiliate relationship between members of the and Board of Directors in the Annual Report. The Board of Directors and Main and/or Controlling criteria for disclosure of affiliate relationships Shareholders. include: 4. Affiliate relationship between members of the 1. Affiliate relationship between members of the Board of Commissioners and fellow members Board of Directors and fellow members of the of the Board of Commissioners. Board of Directors. 5. Affiliate relationsship between Main and/or 2. Affiliate relationship between members of the Controlling Shareholders.

Affiliate Relationship of the Board of Commissioners

During 2019, the Board of Commissioners of PT Commissioners is considered to be able to perform Angkasa Pura I (Persero) did not have affiliate its duties and responsibilities in PT Angkasa Pura I relationship with fellow members of the Board of (Persero) independently. Disclosure of the affiliate Commissioners, Board of Directors, or Controlling relationship in 2019 is as follows: Shareholders. In this regard, the Board of

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Affiliate Relationship of the Board of Commissioners of PT Angkasa Pura I (Persero) in 2019

Financial Relationship with Familial Relationship with Management Relations at Other Fellow Board of Board of Controlling Fellow Board of Board of Controlling Name Position Entitites Commissioners Directors Shareholders Commissioners Directors Shareholders

Yes No Yes No Yes No Yes No

Djoko President √ √ √ √ Sasono Commissioner

Tri Budi Commissioner √ √ √ √ Satriyo

Suprasetyo Commissioner √ √ √ √

Harry Z. Commissioner √ √ √ √ Soeratin

Ali Mochthar Commissioner √ √ √ √ Ngabalin

Affiliate Relationships of the Board of Directors

PT Angkasa Pura I (Persero) ensures that members familial relationship with fellow members of the of the Board of Directors can carry out their duties Board of Directors, the Board of Commissioners, and responsibilities independently and do not and/or Controlling Shareholders. have conflicts of interest with other parties that may affect decision-making. In this regard, the Disclosure of affiliate relationship of the Board of Board of Directors is required to disclose, if any, Directors in 2019 is as follows: financial, management, share ownership, and/or

Affiliation Relations of the Directors of PT Angkasa Pura I (Persero) 2019

Financial, Familial and Management Relationships of the Board of Commissioners

Financial Relationship with Familial Relationship with Management Name Position Relations at Fellow Board of Board of Controlling Fellow Board of Board of Controlling Other Entitites Commissioners Directors Shareholders Commissioners Directors Shareholders

Yes No Yes No Yes No Yes No

Faik Fahmi President Director √ √ √ √

Wendo Asrul Director of √ √ √ √ Rose Operations

Novrihandri Director of Finance √ √ √ √

Adi Nugroho Director of HR and √ √ √ √ General Affairs

Lukman F. Director of √ √ √ √ Laisa Technical Affairs

Devy Suradji Director of √ √ √ √ Marketing and Services

Sardjono Director of √ √ √ √ Jhony Business Tjitrokusumo Development

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Shariah Supervisory Board

PT Angkasa Pura I (Persero) is a state-owned the names of Shariah Supervisory Board members company engaged in the airport service industry and their duties and responsibilities, as well as and is not engaged in the business of Shariah the frequency of Shariah Supervisory Board in financing. Therefore, the Company does not have providing advices and requirements related to a Shariah Supervisory Board. In this regard, the Shariah principles to the management. Annual Report does not present information on Secretary of the Board of Commissioners

Profile and Brief Biography of the Secretary of the Board of Commissioners

M. Rosyid Ariansyah Secretary of the Board of Commissioners

Indonesian Citizen, domiciled in Depok

Age and Date of Birth: 37 years, born in Klaten, August 2, 1982.

Basis of Appointment: M. Rosyid Ariansyah is appointed as the Secretary of the Board of Commissioners based on Board of Commissioners Decree No. KEP-06/DK.AP.I/2019 dated November 1, 2019.

Educational Background: • Bachelor of Economics, University of Indonesia, 2007.

Job Experiences: • Subdivision Head of Administration and Finance, Ministry of SOE ‐ Secretary of the Board of Commissioners, PT Reasuransi Internasional Indonesia.

Realization of Execution of Duties by the Secretary of the Board of Commissioners

During 2019, the Secretary of the Board of 4. Arranged the Board of Commissioners work Commissioners performed the following duties. plan and budget program in 2019. 1. Prepared 12 internal meetings and 12 5. Prepared the Board of Commissioners reports joint meetings between the Board of of 2019. Commissioners and Board of Directors and 6. Ensured that the Board of Commissioners prepared meeting materials. complied with prevailing laws and regulations 2. Prepared minutes of the Board of and implemented GCG principles. Commissioners meetings in accordance with 7. Scheduled the work visits of the Board of the Company’s Articles of Association. Commissioners to branch offices of the 3. Administered the Board of Commissioners Company. documents, including incoming and outgoing 8. Prepared, administered, coordinated and letters, minutes of meetings and other reported on the activities of the Board of documents. Commissioners.

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Audit Committee

PT Angkasa Pura I (Persero) has an Audit 2 (two) members from outside the Company who Committee to assists the Board of Commissioners have no connections with management, share in overseeing the performance and providing ownership, or business activities of the Company. advice to the Board of Directors. The Audit Audit Committee members are appointed and Committee consists of a Chair, a Deputy Chair who dismissed by the Board of Commissioners and are is a member of the Board of Commissioners, and reported to the GMS.

Basis for Establishment of the Audit Committee

The Audit Committee was formed on the basis of 3. Minister of SOE Regulation No. PER-09/ the following regulations: MBU/2012 concerning Implementation of 1. Law No. 19 of 2003 concerning State-Owned Good Corporate Governance at SOEs Enterprises 4. Minister of SOE Regulation No. PER-12/ 2. Minister of SOE Regulation No. PER-05/ MBU/2012 concerning Supporting Organs of MBU/2006 concerning Audit Committees at the Board of Commissioners. SOEs

Audit Committee Charter

The Charter of the Audit Committee of PT that must be adhered to in the formulation and Angkasa Pura I (Persero) is a guideline which was implementation of the Audit Committee activities approved by the Board of Commissioners through to work in an independent, objective, transparent, Board of Directors Decree No. KEP.51.I/FG.01/2017 and accountable manner. The Audit Committee concerning the Internal Audit Charter. The Charter Charter also regulates the preparation and allows the Audit Committee to perform its duties determination of work plan and budgeting for the and responsibilities in a directed, effective and Audit Committee activities every year. efficient manner. The Charter contains provisions

Duties and Responsibilities of the Audit Committee

In line with the Audit Committee Charter, the 4. Ensure that there are satisfactory evaluation duties of Audit Committee are as follows: procedures for all information released by the 1. Assist the Board of Commissioners to ensure Company. the effectiveness of the internal control system 5. Identify matters that require the attention of and implementation of duties of external and the Board of Commissioners as well as other internal auditors. duties of the Board of Commissioners. 2. Assess the implementation of activities and audit outcomes carried out by the Internal The Audit Committee has an obligation to maintain Audit Unit and external auditors. the confidentiality of Company documents, 3. Provide recommendations on improving data and information. The performance of the the management control system and its Audit Committee is directly accountable to the implementation. Board of Commissioners in the form of periodic reports (quarterly and annual) and reports on the implementation of special duties.

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Authority of the Audit Committee

In carrying out its duties, the Audit Committee consultants to accomplish its duties. The Audit has certain authorities, including the authority to Committee can cooperate with the Internal Audit obtain complete information about employees, to obtain the required information. funds, assets, and the Company resources. In addition, the Audit Committee is also authorized to request the assistance of experts and/or

Organizational Structure, Membership and Expertise of the Audit Committee

In 2019, the Audit Committee of PT Angkasa Pura of financial audit and/or accounting. I (Persero) consisted of 1 (one) Chair and Deputy Chair, which came from members of the Board Details of the membership of the Audit Committee of Commissioners, and 2 (two) members with can be seen in the following table. educational qualification and expertise in the field

Membership of the Audit Committee of PT Angkasa Pura I (Persero) in 2019

Position Name Decree Expertise

Anandy Wati Board of Commissioners Decree Commercial No: KEP-03 / DK.AP.I / 2018, dated Operations July 31, 2018*) and Business Development Chair of Audit Committee Harry Z. Soeratin Board of Commissioners Decree Aviation Engineering No: KEP-04/DK.AP.I/ 2019, dated April 7, 2019

Harry Z. Soeratin Board of Commissioners Decree Aviation Engineering No: KEP-03/DK.AP.I/ 2018, dated July 31, 2018

Deputy Chair of Audit Djoko Sasono Board of Commissioners Decree Transportation Committee No: KEP-04/DK.AP.I/ 2019, dated Engineering April 7, 2019 Board of Commissioners Decree No: KEP-03/DK.AP.I/ 2018, dated July 31, 2018

Syaiful Board of Commissioners Decree Accounting, Auditing Member of Audit No: KEP-06/DK.AP.I/ 2018, dated Committee September 14, 2018

Agus Waluyo Board of Commissioners Decree Accounting, Auditing No: KEP-07/DK.AP.I/ 2018, dated September 28, 2018 Member of Audit Committee Suka Edi Prasetyo Board of Commissioners Decree Accounting, Auditing No: KEP-05/DK.AP.I/ 2019, dated July 1, 2019

*) Ibu Anandy Wati selaku Ketua Komite Audit berakhir 7 April 2019 dan digantikan Bapak Harry Z. Soeratin.

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Profile and Qualification of Audit Committee Member

Profile and Qualification of Audit Committee Member

Name and Position Profile

Indonesian citizen, domiciled in Jakarta

Age and Date of Birth: 60 years old, born in Semarang, December 4, 1959

Basis of Appointment: Decree of the Board of Commissioners Number: KEP-03 / DK.AP.I / 2018, July 31, 2018

Educational Background: • Bachelor, Sebelas Maret University in Surakarta (1983) • Master of Public Management, United States (1991)

Job Experiences: • Commissioner PT Angkasa Pura Airports (2014) Anandy Wati • Secretary of the Directorate General of Budget, Ministry of Finance (2013) Chair (Period of 1 January - 7 • Director of Investment Management System, Ministry of Finance (2010) April 2019) • Director of Budget Execution, Ministry of Finance (2009).

The profile can be seen in the Board of Commissioners Profile section on page 70 of this Annual Report

Harry Z. Soeratin Chair (Period of 7 April 2019 - present)

The profile can be seen in the Board of Commissioners Profile section on page 69 of this Annual Report

Djoko Sasono Deputy Chair (Period of 7 April 2019 - present)

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Profile and Qualification of Audit Committee Member

Name and Position Profile

Indonesian citizen, domiciled in Jakarta

Age and Date of Birth: 61 years old, born in Pariaman, August 15, 1958

Basis of Appointment: Board of Commissioners Decree No. KEP-06/DK.AP.I/2018 on September 14, 2018.

Educational Background: • D3 dengan gelar Ajun Akuntan, Sekolah Tinggi Akuntansi Negara (1984) D4 dengan gelar Akuntan, Sekolah Tinggi Akuntansi Negara (1989)

Job Experiences: • Member of the Audit Committee and Risk Management Committee in various SOEs (present) Syaiful • Consultant on Accounting and Finance (2002 - present) Member • Public Accounting Firm Dani Sudarsono and Partners (2001-2003)

Indonesian citizen, domiciled in Jakarta

Age and Date of Birth: 46 years old, born on August 23, 1973

Basis of Appointment: Board of Commissioners Decree No. KEP-07/DK.AP.I/2018 on September 28, 2018.

Educational Background: • Accounting (Diploma-3) from State College of Accountancy, Jakarta (1994) • Bachelor of Economics from Widya Wiwaha School of Economics, Yogyakarta (2009)

Job Experiences: • Young Auditor at the Inspectorate of the Ministry of SOEs (2015 - present) • Auditor, Development and Financial Supervisory Agency (BPKP) East Nusa Tenggara (2011 - 2015) Agus Waluyo • Auditor, Development and Financial Supervisory Agency (BPKP) Special Region Member of Yogyakarta (1999 - 2011) • Auditor, Development and Financial Supervisory Agency (BPKP) South Sumatera (1994 - 1997)

Indonesian citizen, domiciled in Jakarta

Age and Date of Birth: 34 years old, born in Tulunganggung, January 1, 1985

Basis of Appointment: Board of Commissioners Decree No. KEP-05/DK.AP.I/2019 on July 1, 2019.

Educational Background: • Accounting (Diploma-3) from State College of Accountancy, Jakarta (2006) • Bachelor of Economics from the University of Indonesia (2009).

Job Experiences: Suka Edi Prasetyo Head of Sub-Division of Financial Services, Ministry of SOEs Member

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Audit Committee Training

Description of training for the Audit Committee throughout 2019 can be seen in the Education and Management Training section of this report.

Independence of the Audit Committee

The Audit Committee must carry out its duties and of the Audit Committee and Shareholders, Board responsibilities in an objective, professional and of Commissioners, Board of Directors, or the independent manner. PT Angkasa Pura I (Persero) Company to avoid a conflict of interest. Details of strives to ensure that the Audit Committee cannot the independence of the Audit Committee are be influenced by relationship among members disclosed in the following table.

Independence of Audit Committee of PT Angkasa Pura I (Persero) in relation to Main and Controlling Shareholders in 2019

Relationship with Main and Controlling Shareholders

Name Position Share Financial Familial Management Ownership Relationship Relationship Relationship Relationship

Harry Z. Soeratin Chair of Audit Committee None None None None

Deputy Chair of Audit None None None None Djoko Sasono Committee

Member of Audit None None None None Agus Waluyo Committee

Member of Audit None None None None Syaiful Committee

Member of Audit None None None None Suka Edi Prasetyo Committee

Independence of Audit Committee of PT Angkasa Pura I (Persero) in relation to the Board of Commissioners in 2019

Relationship with Board of Commissioners

Name Position Share Financial Familial Management Ownership Relationship Relationship Relationship Relationship

Harry Z. Soeratin Chair of Audit Committee None None None None

Deputy Chair of Audit None None None None Djoko Sasono Committee

Member of Audit None None None None Agus Waluyo Committee

Member of Audit None None None None Syaiful Committee

Member of Audit None None None None Suka Edi Prasetyo Committee

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Independence of Audit Committee of PT Angkasa Pura I (Persero) in relation to the Board of Directors in 2019

Relationship with Board of Directors

Name Position Share Financial Familial Management Ownership Relationship Relationship Relationship Relationship

Harry Z. Soeratin Chair of Audit Committee None None None None

Deputy Chair of Audit None None None None Djoko Sasono Committee Member of Audit None None None None Agus Waluyo Committee Member of Audit None None None None Syaiful Committee Member of Audit None None None None Suka Edi Prasetyo Committee

Independence of Audit Committee of PT Angkasa Pura I (Persero) in relation to Fellow Members of the Committee in 2019

Relationship with Fellow Members of Audit Committee

Name Position Share Financial Familial Management Ownership Relationship Relationship Relationship Relationship

Harry Z. Soeratin Chair of Audit Committee None None None None

Deputy Chair of Audit None None None None Djoko Sasono Committee Member of Audit None None None None Agus Waluyo Committee Member of Audit None None None None Syaiful Committee Member of Audit None None None None Suka Edi Prasetyo Committee

Audit Committee Meeting

The Audit Committee holds regular meetings every as sources of information and references in providing year comprising of Internal Meetings and Joint advice to the Board of Commissioners. Meetings with the Internal Audit Unit. Meetings are held to discuss matters relating to the work plan and Agenda of Audit Committee Meeting its implementation, Company developments, internal The agenda items of Audit Committee meetings control, follow-up on audit findings, and other related during 2019 are presented in detail in the following matters. The results of the discussions are important table.

Agenda Items of Audit Committee Meetings of PT Angkasa Pura I (Persero) in 2019

No. Date Agenda Item Participant

1 23 January 2019 Discussion on Long-Term Business Plan (RJPP) 2019 – 2023 1. Harry Z. Soeratin of PT Angkasa Pura I (Persero) 2. Anandy Wati 3. Syaiful 4. Agus Waluyo

2 31 January 2019 1. Discussion on the Progress of Long-Term Business 1. Djoko Sasono Plan (RJPP) 2019 – 2023 of PT Angkasa Pura I (Persero) 2. Anandy Wati 2. Discussion on Progress of the New Yogyakarta 3. Syaiful International Airport (NYIA) Project 4. Agus Waluyo

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Agenda Items of Audit Committee Meetings of PT Angkasa Pura I (Persero) in 2019

No. Date Agenda Item Participant

3 12 February 2019 Discussion on Follow Up of Public Accounting Firm (KAP) 2018 of 1. Djoko Sasono PT Angkasa Pura I (Persero) 2. Anandy Wati 3. Harry Z. Soeratin 4. Agus Waluyo 5. Syaiful

4 31 January 2019 1. Discussion on Update of Preparation for NYIA Operations 1. Djoko Sasono 2. Discussion to Plan the Establishment of Holding SOE entity 2. Ananady Wati on Air Transportation 3. Harry Z. Soeratin 3. Discussion to Evaluate Outcomes of GCG Follow Ups of PT 4. Agus Waluyo Angkasa Pura I (Persero) 5. Syaiful

5 24 April 2019 1. Discussion of the Annual Report 2018 of PT Angkasa Pura I 1. Djoko Sasono (Persero) 2. Harry Z. Soeratin 2. Discussion on the Organization and Work Procedures of the 3. Agus Waluyo NYIA Branch Office of PT Angkasa Pura I (Persero) 4. Syaiful

6 16 May 2019 1. Preparation of GMS to ratify the Annual Report 2018 of PT 1. Djoko Sasono Angkasa Pura I (Persero) 2. Harry Z. Soeratin 2. Preparation of the Homecoming Season Transport 3. Agus Waluyo Monitoring Post; 4. Syaiful 3. Disccusion on YIA Airport Project Progress;

7 27 June 2019 1. Discussion of Performance in Quarter I until May 2019 1. Djoko Sasono 2. Discussion of Proposal of SOP on Strategic Cooperation 2. Harry Z. Soeratin 3. Discussion of Collaboration on Signal Boosters 3. Syaiful 4. Suka Edi Prasetyo

8 29 Julu 2019 1. Discussion of Strategic Cooperation in the Development and 1. Djoko Sasono Management of Lombok Airport 2. Harry Z. Soeratin 2. Discussion on Performance Outcomes until June 2019 3. Syaiful 3. Discussion on proposed revision of Company Work Plan and 4. Suka Edi Prasetyo Budget 2019

9 27 August 2019 1. Discussion of revision of RKAP 2019 of PT Angkasa Pura I 1. Djoko Sasono (Persero) 2. Harry Z. Soeratin 2. Discussion on 5-year Cooperation Agreement Contract Plan 3. Syaiful at Syamsuddin Noor Airport, Banjarmasin 4. Suka Edi Prasetyo 3. Discussion of 5-year Cooperation Agreement Contract Plan at Juanda Airport, Surabaya

10 30 September 2019 1. Discussion of Operational Plan of Syamsuddin Noor Airport, 1. Djoko Sasono Yogyakarta International Airport, and Adi Soemarmo Airport 2. Harry Z. Soeratin Train 3. Syaiful 2. Discussion of Update of Holding SOE on Air Transportation 4. Suka Edi Prasetyo Plan

11 22 October 2019 1. Discussion of Proposal of Revision of the PT Angkasa Pura I 1. Djoko Sasono (Persero) Work Plan and Budget (RKAP) on Investment 2019. 2. Harry Z. Soeratin 2. Discussion of 5-Year Cooperation Agreement at SAMS 3. Syaiful Sepinggan Airport, Balikpapan. 4. Suka Edi Prasetyo 3. Discussion of 5-Year Cooperation Agreement at Yogyakarta International Airport Yogyakarta (YIA) - Kulon Progo. 4. Request for Response to the Build Operate Transfer (BOT) Hotel Cooperation at the New Terminal of Syamsuddin Noor Airport, Banjarmasin. 5. Request for Approval for Hotel Construction & Business Cooperation at the terminal of Yogyakarta International Airport - Kulon Progo

12 31 October 2019 Discussion of Draft RKAP 2020 of PT Angkasa Pura I (Persero) 1. Djoko Sasono 2. Harry Z. Soeratin 3. Syaiful 4. Suka Edi Prasetyo

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Agenda Items of Audit Committee Meetings of PT Angkasa Pura I (Persero) in 2019

No. Date Agenda Item Participant

13 5 – 6 November Discussion of Draft RKAP 2020 1. Harry Z. Soeratin 2019 2. Syaiful 3. Suka Edi Prasetyo

14 27 November 2019 1. Discussion of Proposal of RKAP 2020 of PT Angkasa Pura I 1. Djoko Sasono (Persero) 2. Harry.Soeratin 2. Discussion of Guidelines for Cooperation with Strategic 3. Syaiul Partners 4. Suka Edi Prasetyo

15 5 December 2019 Discussion of Draft RKAP 2020 of PT Angkasa Pura I (Persero) 1. Harry.Soeratin 2. Syaiful 3. Suka Edi Prasetyo

16 10 December 2019 1. Discussion on Amendment to PT Angkasa Pura I (Persero) 1. Djoko Susono Articles of Association 2 Harry Z. Soeratin 2. Discussion on Selection of PPIP Institution 3 Syaiful 3. Discussion on Guidelines for Cooperation with Strategic 4 Suka Edi Prasetyo Partners 4. Discussion on Management of Signal Boosting Services by PT APS 5. Discussion on Capsule Hotel at Bali Airport 6. Discussion on the Development and Management of Airport Hotels at YIA 7. Discussion on Equity Participation to Subsidiaries 8. Discussion of BPK Audit Results

17 20 December 2019 Presentation of Interim Audit Results 1. Harry Z. Soeratin 2. Syaiful 3. Suka Edi Prasetyo

Agenda Items at Coordination Meetings of the Audit Committee with Internal Supervisory Unit of PT Angkasa Pura I in 2019

No. Date Agenda Item Venue

1 16 January 2019 Final reconciliation of intercompany transaction balances Hotel Grand Orchardz Kemayoran

2 15 May 2019 Focus Group Discussion on Role of IA in Prevention Hotel Holiday Inn Kemayoran through Risk-Based Internal Control, Investigation and Internal Monitoring Systems

3 15 July 2019 Information Dissemination on Fraud Control Plan and Multipurpose Building Fraud Risk Management, and signing of MoU with BPKP PT Angkasa Pura I (Persero)

4 17 July 2019 Discussion of TOR for Public Accounting Firm for Financial Juanda Meeting Room Year 2019 PT Angkasa Pura I (Persero)

5 4 October 2019 Explanation (Aanwitzing) of Public Accounting Firm Procurement Internal Meeting of Services as Independent Auditor of the Financial PT Angkasa Pura I (Persero) Statements of PT Angkasa Pura I (Persero) for Financial Year 2019

Frequency and Attendance Level in Audit Committee Meeting During 2019, the Audit Committee held 17 level in Audit Committee meetings during 2019 is meetings attended by its members along with presented in the following table. other invitees. The frequency and attendance

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Frequency of Attendance Level in Audit Committee Meetings of PT Angkasa Pura I in 2019

Name Position Total Meetings Total Attendance Percentage

Anandy Wati Chair (January – April) 4 4 100%

Harry Z. Soeratin Chair (April – December) 17 16 94,12% Deputy Chair

Djoko Sasono Deputy Chair 17 13 76,47%

Syaiful Member 17 17 100%

Agus Waluyo Member (January – June) 6 6 100%

Suka Edi Prasetyo Member (June – December) 11 11 100%

Realization of the Audit Committee Activities

During 2019, the Audit Committee conducted the 2). Evaluation of audit planning was carried following activities: out through: a). Program for assessing the activities and - Kick of/entry meeting, namely on results of audits performed by the internal interim audit planning, supervisory unit (SPI) - Meetings to monitor the audit The activities undertaken include: progress, which were also held in order 1). Assessing the execution and results of to determine further audit plans. audits, through observation and field 3). Evaluasi pelaksanaan dan hasil audit, telah audit conducted by sampling. dilakukan melalui: 2). Monitoring the follow-up on audit - Assistance/Monitoring of audit findings, through routine meetings held process by the public accounting on a quarterly basis. firm (KAP) in the field/ branch office b). Program for assessing the activities and (sampling). results of audit performed by the external - Meetings to monitor audit progress, auditor - Meetings to discuss the draft audit The activities undertaken include: report, and 1). Process of appointing a public accounting - Exit meeting in order to complete the firm (KAP). execution of the audit. Appointment of a public accounting c). Program for providing recommendations for firm to audit the financial statements improving the internal control system and its for Financial Year 2018 was conducted implementation through a tender/beauty contest The Activities undertaken include: mechanism. The activities undertaken 1). Evaluation of the implementation of include the preparation of ToR, Budget Airport Development Projects, including: Plan, and Technical Specifications for the - Ahmad Yani International Airport- prospective public accounting firms (KAP). Semarang Project, In collaboration with the SPI and AP1 - Syamsudin Noor Airport-Banjarmasin Procurement Unit, the Audit Committee Project, conducted the tender process of KAP - New Yogyakarta International Airport from announcement to recommending Project the winning bid.

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2). Evaluation of Goods & Services the Board of Commissioners, meetings with Procurement Procedures the Board of Directors or inviting or attending 3). Evaluation of Asset Utilization invitations from the SPI and/or Group Head/ Optimization Head within PT Angkasa Pura I (Persero). 4). Evaluation of Airport Branch Offices h). Program to prepare quarterly and annual experiencing losses reports This activity was performed through research This program was conducted after the quarter on documents and field observations/review. or year has passed. d). Program for assessing evaluation procedures i). Program to prepare report of the on information released by the Company implementation of each duty 1). Evaluation of Quarterly & Annual This program was conducted immediately Management Reports. after the completion of each duty. 2). Evaluation of Other Management Reports. j). Program on Professional Development This activity was conducted through research During 2019, the Audit Committee participated on the logical relationship between data in the in 4 professional development activities as report and confirmation to the management/ follows: person in charge of the validity of data. - Workshop on Understanding of PSAK 71, e). e) Program to identify matters that require 72 and 73 organized by the Indonesian the attention of the Board of Commissioners Institute of Audit Committee on 25-26 July This program was conducted in accordance 2019 in Jakarta. with the guidance of the Board of - Workshop on CACP - Certification in Audit Commissioners or based on information Committee Practice organized by the obtained from various sources, including Indonesian Institute of Audit Committee internal and external resources such as mass on August 6-08, 2019 in Jakarta. media (print and electronic). - National Risk Management Professional f). Program to prepare Audit Committee work Conference VII- 2019 with the theme plan and budget “Growth Sustainability and Risk Issues in This program was conducted in conjunction Global Competition” on 28-29 November with the preparation of the Company Work 2019. Plan & Budget. - Certified Risk Governance Professional g). Program of internal meetings, at least once a ISO 31000 7 COSO month During 2019, the Audit Committee held about 17 meetings, including internal meetings of

Business Risk and Good Corporate Governance Committee

PT Angkasa Pura I (Persero) has a Business Risk Risk and Good Corporate Governance Committee and Good Corporate Governance Committee that are appointed and dismissed by the Board of assists the Board of Commissioners in carrying Commissioners and then reported to the GMS. A out its duties to oversee the policies of Board of member of the Board of Commissioners serves Directors related to risk management, potential as Chair of the Business Risk and Good Corporate business risks, and GCG. Members of the Business Governance Committee.

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Basis for Establishing the Business Risk and Good Corporate Governance Committee

The Business Risk and Good Corporate Governance b. Minister of SOE Regulation No. PER-09/ Committee of PT Angkasa Pura I (Persero) was MBU/2012 concerning Implementation of established based on the following regulations: Good Corporate Governance in SOEs. a. Law No. 19 of 2003 concerning State-Owned c. Minister of SOE Regulation No. PER-12/ Enterprises. MBU/2012 concerning Supporting Organs of the Board of Commissioners.

Charter of the Business Risk and Good Corporate Governance Committee

The Business Risk and Good Corporate Governance The stipulated charter outlines the Legal Basis, Committee performs its duties and obligations Appointment and Dismissal of Members, based on the Charter of the Business Risk and Duties, Authority, Membership Requirements, Good Corporate Governance Committee installed Responsibilities, Meetings, Reports / Studies, Access based on Decree No. KEP.01/DK.AP.I/2019 dated to Information Secrecy, Work Plans and Budgets, January 2, 2019. Member Income, Education and Supporting Personnel, and Performance Appraisals. The Committee Charter regulates guidelines for the Chairperson, Deputy Chairperson, and With the charter, the ground rules for all people at Committee Members in carrying out their duties PT Angkasa Pura I (Persero) in coordinating and and responsibilities as a supporting organ for following up on the duties and functions of the the Board of Commissioners of PT Angkasa Pura Business Risk & GCG Committee are among the I (Persero). Supporting Tools of the Board of Commissioners.

Duties and Responsibilities of the Business Risk and Good Corporate Governance Committee

As stated in the guidelines, the duties and 2. To review the risk assessment conducted responsibilities of the Business Risk and Good by Risk Management and Compliance Corporate Governance Committee are as follows: Group on the Company’s investment (a) Main Duties Related to Business Risk plans. 1. To review and provide recommendations 3. To oversee the activities of the Risk on the effectiveness of the Management and Compliance Group in implementation of the company’s risk monitoring the implementation of risk management processes carried out by mitigation by relevant work units. the Risk Management and Compliance 4. To oversee the application of the Unit, through regular meetings and Committee’s recommendations by the other means to discuss the development Risk Management and Compliance of stages of tasks and responsibilities Group. carried out by the Risk Management and Compliance Group.

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5. To conduct an analysis and evaluation 7. To provide advices, inputs, and of the proposal of RKAP and an annual recommendations to the Board of review of RJPP submitted by the Board of Directors regarding best practice Directors. standards for the implementation of GCG 6. To review the Company’s information in the Company. risk management in the reports to be 8. To assist the Board of Directors in published, through a process of: planning, implementing, evaluating, and - Joint discussion with management. developing on an ongoing basis the Work - Review of draft report to be published. and Business Ethics and GCG practices in 7. To conduct discussions on important all work areas of the Company. risks of the units within the Company, as 9. To assist the Board of Directors in guiding needed. and overseeing the effectiveness of GCG 8. If the Board of Directors deems it necessary practices in the Company as an effort to to use an independent risk management increase Shareholder value, including consultant to review the risk management dissemination and internalization. processes of the Company, the Business 10. To evaluate the effectiveness of GCG Risk and GCG Committee has the duty to: implementation by the Main Organs and - Provide inputs on consultant criteria Supporting Organs and provide input on and competencies. improvements and efforts to strengthen - Monitor the work of consultants them. through the Risk Management and 11. To develop a mechanism of reward and Compliance Group. punishment on a consistent basis in (b) Basic Tasks Related to Good Corporate relation to the implementation of GCG Governance practices in the Company. 1. To ensure the completeness and validity Besides the above stated duties and of the Corporate Governance Policy (CGP), responsibilities, the Business Risk and Management Policy (MP), and Standard Good Corporate Governance Committee Operating Procedure (SOP) in accordance may also be given specific duties under with the Company’s activities. the following conditions: 2. To ensure that management carries out 1. Assignment of special duties to the business activities in accordance with the Business Risk and GCG Committee by provisions in CGP, MP, and SOP. the Board of Commissioners through 3. To ensure that supervision has been written instructions which include the carried out on the implementation of following information: CGP, MP, and SOP. - Name of the Business Risk and 4. To evaluate the policies regarding GCG GCG Committee members and Ethical Standards as well as follow up assigned on the results of assessments conducted - Nature and scope of work by external consultants. - Goals and objectives of work 5. To investigate and verify based on findings - Time of assignment in the field relating to ethical violations - Administrative matters related to and violations of GCG practices occurring the special duties in the Company. 2. Special duties may include but are 6. To evaluate and improve the guidelines not limited to examining alleged on GCG implementation of at least once irregularities in the decisions of a year or adjusted to the needs of the the Board of Directors Meeting or Company. irregularities in the execution of a

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decision of the Board of Directors a report on the execution of special Meeting related to their duties and duties under extreme confidentiality responsibilities. and limited only to members of 3. The Business Risk and Good Corporate the Committee and the Board of Governance Committee must submit Commissioners.

Organizational Structure, Membership, and Expertise of the Business Risk and Good Corporate Governance Committee

In 2019, the composition of Business Risk and Good of a chair, two deputy chairs, and two members. Corporate Governance Committee of PT Angkasa Details of the membership structure of the Pura I (Persero) was ratified through the Board of Business Risk and Good Corporate Governance Commissioners Decree KEP.01/DK.AP.I/2019 dated Committee can be seen in the following table. January 2, 2019. The Committee structure consists

Membership of Business Risk and Good Corporate Governance Committee of PT Angkasa Pura I (Persero) in 2019

Position Name Decree Expertise

Suprasetyo Board of Commissioners Decree Aviation Engineering Chair of Business Risk No. KEP-04/DK.AP.I/2018 and GCG Dated July 31, 2018

Ali Mochtar Ngabalin Board of Commissioners Decree Communication Sciences Deputy Chair I of No. KEP-04/DK.AP.I/2018 Business Risk and GCG Dated July 31, 2018

Tri Budi Satriyo Board of Commissioners Decree Management, HR Deputy Chair II of No. KEP-04/DK.AP.I/2018 Business Risk and GCG Dated July 31, 2018

Riko Hendrawan Board of Commissioners Decree Finance No. KEP-08/DK.AP.I/2018 Dated November 1, 2018 Member of Business Risk and GCG Ganesha Dian Farisi Board of Commissioners Decree Economics and Risk No. KEP-06/DK.AP.I/2016 Management Dated December 26, 2016

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Profile and Qualification of the Business Risk and Good Corporate Governance Committee

Profile and Qualification of the Business Risk and Good Corporate Governance Committee

Name and Position Profile

His profile can be seen in the Board of Commissioners section on page 71 of this Annual Report

Suprasetyo Chair of Business Risk and GCG Committee

His profile can be seen in the Board of Commissioners section on page 72 of this Annual Report

Ali Mochtar Ngabalin Deputy Chair I of Business Risk and GCG Committee

His profile can be seen in the Board of Commissioners section on page 73 of this Annual Report

Tri Budi Satriyo Deputy Chair II of Business Risk and GCG Committee

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Name and Position Profile

Indonesian Citizen, domiciled in Jakarta

Age and Date of Birth: 31 years old, born in on December 3, 1989.

Basis of Appointment: Board of Commissioners Decree No. KEP.06/DK.AP1/2016 dated December 27, 2016 and valid until December 27, 2019

Educational Background: • Bachelor of Economics, Padjadjaran University, 2012 • Master of Business Administration, IPMI International Business School, 2015

Job Experiences: Ganesha Dian Farisi • Overseas supports and Technical Partner, KSO Sucofindo-Surveyor Member of Business Risk and GCG Indonesia (2016 - 2018) Committee • Monitoring, Evaluation, & Development, HUB KSO SCISI (2012 – 2016),

Indonesian Citizen, domiciled in Tangerang

Age and Date of Birth: 44 years old, born in Tangerang on April 26, 1975.

Basis of Appointment: Board of Commissioners Decree No. KEP.08/DK.AP1/2018 dated November 1, 2018 and valid until November 1, 2021

Educational Background: • Bachelor of Financial Management, Jakarta Islamic University, 2000 • Master of Management in Corporate Finance, PPM-School of Management (2002) Riko Hendrawan • Doctor of Finance, Padjadjaran University, 2008 Member of Business Risk and GCG • National Resilience Institute PPRA Alumni Batch 53, 2015 Committee Job Experiences: • Vice President of Business Portfolio Management of Telkom Foundation (2014 - 2015) • Head of Finance Experts Group (2010-2014) • Head of the Institute of Research and Community Services, Telkom Institute of Management (2012) • Head of Business Service and Training Program, Telkom Institute of Management (2010-2012) • Member of Risk and Investment Committee, PT POS Indonesia (2010- 2012) • Member of Audit and Investment Committee, PT POS Indonesia (2012- 2014) • Member of Audit and Investment Committee, PT PSGAS Telekomunikasi Indonesia (2011-2014)

Business Risk and GCG Committee Training Activities

Description of training activities for the Business throughout 2019 can be seen in the Management Risk and Good Corporate Governance Commitee Education and Training section of this report.

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Independence of the Business Risk and Good Corporate Governance Committee

The Business Risk and GCG Committee is an and can carry out its duties and responsibilities independent body and cannot be influenced by in an objective, professional and independent Shareholders, Board of Commissioners, and Board manner. Details of the independence of the of Directors. PT Angkasa Pura I (Persero) ensures Business Risk and GCG Committee are disclosed that the Committee is free from conflicts of interest in the following table.

Independence of Business Risk and GCG Committee of PT Angkasa Pura I (Persero) in relation to Main and Controlling Shareholders in 2019

Relationship with Main and Controlling Shareholders Name Position Financial Familial Management Share Ownership Relationship Relationship Relationship Relationship

Chair of Business Risk None None None None Suprasetyo and GCG Committee

Deputy Chair I of None None None None Ali Mochtar Ngabalin Business Risk and GCG Committee

Deputy Chair II of None None None None Tri Budi Satriyo Business Risk and GCG Committee

Member of Business None None None None Riko Hendrawan Risk and GCG Committee

Member of Business None None None None Ganesha Dian Farisi Risk and GCG Committee

Independence of Business Risk and GCG Committee of PT Angkasa Pura I (Persero) in relation to the Board of Commissioners in 2019

Hubungan dengan Dewan Komisaris Name Position Financial Familial Management Share Ownership Relationship Relationship Relationship Relationship

Chair of Business Risk None None Suprasetyo None None and GCG Committee

Deputy Chair I of None None None None Ali Mochtar Ngabalin Business Risk and GCG Committee

Deputy Chair II of None None None None Tri Budi Satriyo Business Risk and GCG Committee

Member of Business None None None None Riko Hendrawan Risk and GCG Committee

Member of Business None None None None Ganesha Dian Farisi Risk and GCG Committee

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Independence of Business Risk and GCG Committee of PT Angkasa Pura I (Persero) in relation to the Board of Directors in 2019

Relationship with Board of Directors Name Position Financial Familial Management Share Ownership Relationship Relationship Relationship Relationship

Chair of Business Risk Suprasetyo None None None None and GCG Committee

Deputy Chair I of None None None None Ali Mochtar Ngabalin Business Risk and GCG Committee

Deputy Chair II of None None None None Tri Budi Satriyo Business Risk and GCG Committee

Member of Business None None None None Riko Hendrawan Risk and GCG Committee

Member of Business None None None None Ganesha Dian Farisi Risk and GCG Committee

Independence of Business Risk and GCG Committee of PT Angkasa Pura I (Persero) in relation to Fellow Members of the Committee in 2019

Hubungan dengan Sesama Angggota Komite Risiko Usaha dan GCG Name Position Financial Familial Management Share Ownership Relationship Relationship Relationship Relationship

Chair of Business Risk None None None None Suprasetyo and GCG Committee

Deputy Chair I of None None None None Ali Mochtar Ngabalin Business Risk and GCG Committee

Deputy Chair II of None None None None Tri Budi Satriyo Business Risk and GCG Committee

Member of Business None None None None Riko Hendrawan Risk and GCG Committee

Member of Business None None None None Ganesha Dian Farisi Risk and GCG Committee

Business Risk and GCG Committee Meetings

In carrying out its duties and responsibilities, the Agenda Items of the Business Risk and Business Risk and GCG Committee holds regular Good Corporate Governance Committee meetings to discuss the status of the committee’s Meetings performance and matters requiring follow up In 2019, the Business Risk Committee and Good related to business and governance risks. Corporate Governance discussed the following agenda items during its meetings.

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Agenda Items of Business Risk and Good Corporate Governance Committee Meetings of PT Angkasa Pura I (Persero) in 2019

No Date Description

1. 4 January 2019 Application for support for the issuance of Reclamation Permit in the development of I Gusti Ngurah Rai Airport - Bali

2. 4 January 2019 Application for Ratification of GCG Documents

3. 16 January 2019 Application for Parnership in Managing Signal Boosters business for 5 (five) years with PT Angkasa Pura Support

4. 17 January 2019 Support for collaboration in utilization (KSP) of State-Owned Assets (BMN) of Sentani Airport – Jayapura

5. 23 January 2019 Data to support the settlement of insurance claims on the Old Terminal Building in Sultan Hasanuddin Airport – Makassar

6. - Management of Work Plan (RKA) in 2019 in relation to Risk Events through shift in choice of transportation mode via the Trans Java Toll Road, and Threat Conditions in the Management of PT Angkasa Pura I (Persero) airports

7. 01 April 2019 Submission of completed documents related to the selection process of Prospective Business Partners for Billboard Management at the New Terminal of Ahmad Yani Airport, Semarang

8. 26 February 2019 Proposal for collaboration on development of new airport in North Bali

9. 12 March 2019 Submission of revision of PT Angkasa Pura I (Persero) Long Term Business Plan (RJPP) 2019 – 2023

10. 24 April 2019 Appeal for Control of Budget within PT Angkasa Pura I (Persero)

11 06 May 2019 Report on KPI Achievements of PT Angkasa Pura I (Persero) in Quarter I 2019

12. 13 May 2019 Submission of draft Guidelines for Work Procedures for Board Directors and Board of Commissioners (Board Manual)

13. 13 May 2019 Application for Approval of 5-Year Cooperation Agreement at Juanda International Airport – Surabaya

14. 14 May 2019 Application for Approval on Guidelines for Work Procedures of Selection of Strategic Partners with respect to Cooperation in Business Development of PT Angkasa Pura I (Persero)

15. 16 May 2019 Submission of Long-Term Business Plan 2019-2023 documents of PT Angkasa Pura I (Persero)

16. 14 June 2019 Report on Compensation Payment related to Arbitration Award (Transit Hotel Dispute at SAMS Sepinggan Airport - Balikpapan)

17. 18 June 2019 Guidelines for commercial activities of the Ngurah Rai Commercial Strategic Business Unit (SBU) at I Gusti Ngurah Rai International Airport – Bali

18. 25 June 2019 Confirmation of Legal and GCG Aspects related to the Management Signal Booster Business with PT Angkasa Pura Support

19. 28 June 2019 Application for Response to the Follow-up to Concession Payment

20. 01 July 2019 Submission of draft PT Angkasa Pura I (Persero) Board of Directors Decree concerning Organization and Work Procedures of the Branch Office of PT Angkasa Pura I (Persero) Sentani Airport - Jayapura

21. 19 July 2019 Application for written response on Strategic Cooperation Plan for the Development and Management of Lombok International Airport - Praya

22. 29 July 2019 Submission of Management Report and Dashboard on Management Performance for Semester I 2019 of PT Angkasa Pura I (Persero)

23. 01 August 2019 Application for approval of 5-year cooperation agreement in the selection of phase II business partners at Juanda International Airport – Surabaya

24. 13 August 2019 Application for Revision of RKAP 2019 of PT Angkasa Pura I (Persero)

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Agenda Items of Business Risk and Good Corporate Governance Committee Meetings of PT Angkasa Pura I (Persero) in 2019

No Date Description

25. 21 August 2019 Application for approval of 5-year Cooperation Agreement at Syamsuddin Noor airport – Banjarmasin

26. 26 August 2019 Application for approval of 5-year Cooperation Agreement at SAMS Sepinggan Airport – Balikpapan

27. 26 August 2019 Application for approval of 5-Year Cooperation Agreement at Yogyakarta International Airport – Kulon Progo (YIA)

28. 25 September Application for Response to Cooperation on Build Operate Transfer (BOT) of Hotel at the New 2019 Terminal of Syamsuddin Noor Airport – Banjarmasin

29. 4 October 2019 Application for Approval of Hotel Development and Business Cooperation at Terminal of Yogyakarta International Airport – Kulon Progo

23 October 2019 Submission of Management Report and Dashboard on Management Performance for 30. Quarter III 2019 of PT Angkasa Pura I (Persero)

Frequency and Attendance Level of Business Risk and GCG Committee Meetings During 2019, the Business Risk and Good Corporate Governance Committee held 35 meetings attended by members and other invitees. The frequency of attendance of Committee members in meetings during 2019 can be seen in the following table.

Frequency and Attendance Level of Business Risk and GCG Committee Meetings of PT Angkasa Pura I in 2019

Total Total Name Position Percentage Meetings Attendance

Suprasetyo Chair of Business Risk and GCG Committee 30 30 100%

Deputy Chair I of Business Risk and GCG 30 30 100% Ali Mochtar Ngabalin Committee

Deputy Chair I of Business Risk and GCG 30 30 100% Tri Budi Satriyo Committee

Member of Business Risk and GCG 30 30 100% Riko Hendrawan Committee

Member of Business Risk and GCG 30 30 100% Ganesha Dian Farisi Committee

Realization of the Business Risk and GCG Committee Activities

The Business Risk and Good Corporate Governance Committee carried out various activities in 2019 as stated in the Committee Charter. The realization of these activities is as follows:

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Agenda Items of the Business Risk and Good Corporate Governance Committee Meetings

January 2019

No. Date Description Branch/Unit

1. 07-08 January 2019 Audit Assistance for Financial Statements for Fiscal Year - 2018

2. 24-25 January 2019 Monitoring of Risk Management Profiles of Airport Assets Surabaya Branch Office and Mitigation Preparations Related to Shifting Modes of (SUB) Trans-Java Toll Transportation

3. 30 January 2019 Monitoring of Risk Management Profiles of Airport Assets Semarang Branch Office and Mitigation Preparations Related to Shifting Modes of (SRG) Trans-Java Toll Transportation

February 2019

No. Date Description Branch/Unit

1. 05-06 February 2019 Monitoring of Risk Management Profiles of Airport Assets Solo Branch Office (SOC) and Mitigation Preparations Related to Shifting Modes of Trans-Java Toll Transportation

2. 07-08 February 2019 Monitoring of Risk Management Profiles of Airport Assets Yogyakarta Branch Office and Mitigation Preparations Related to Shifting Modes of (JOG) Trans-Java Toll Transportation

3. 15-16 February 2019 Monitoring of Risk Management Profiles of Airport Assets Bali Branch Office (DPS)

March 2019

No. Date Description Branch/Unit

1. 02-03 March 2019 Monitoring of Terminal Integration Progress with Solo Fast- Solo Branch Office (SOC) Train

2. 13-14 March 2019 Invitation to the 102nd Emergency Training (PKD) Makassar Branch Office (UPG)

3. 18-19 March 2019 Discussion on Branch Office Risk Profiles and Risk Bali Branch Office (DPS) Taxonomy Preparation

April 2019

No. Date Description Branch/Unit

1. 01-02 April 2019 Monitoring of PKBL Realization in Surabaya Surabaya Branch Office (SUB)

2. 08-09 April 2019 Branch Risk Profile Monitoring and Emergency Training Solo Branch Office (SOC)

3. 10-12 April 2019 Branch Risk Profile Monitoring and Emergency Training Semarang Branch Office (SRG)

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Agenda Items of the Business Risk and Good Corporate Governance Committee Meetings

May 2018

No. Date Description Branch/Unit

1. 24 May 2019 Spot Sampling Test for IBCS Management at the Airport Balikapapan Branch Office Terminal (BPN)

2. 25 May 2019 Spot Sampling Test for IBCS Management at the Airport Bali Branch Office (DPS) Terminal

3. 27 May 2019 Terminal 1 Airport Business Partner Selection Surabaya Branch Office (SUB)

4. 28 May 2019 Review of Billboard Cooperation in the Airport Terminal Semarang Branch Office (SRG)

June 2019

No. Date Description Branch/Unit

1. 24-25 June 2019 Sampling of Good Corporate Governance (GCG) Assessment Semarang Branch Office 2018 (SRG)

July 2019

No. Date Description Branch/Unit

1. 09-10 July 2019 Sampling of Good Corporate Governance (GCG) Assessment 2018 Banjarmasin Branch Office (BDJ)

2. 17-18 July 2019 Sampling of Good Corporate Governance (GCG) Assessment 2018 Balikpapan Branch Office (BPN)

3. 26-27 July 2019 Sampling of Good Corporate Governance (GCG) Assessment 2018 Surabaya Branch Office (SUB)

4. 27 July 2019 Traffic Mitigation Monitoring of RKAP 2019 Bali Branch Office (DPS)

5. 30 July 2019 Sampling of Good Corporate Governance (GCG) Assessment 2018 Semarang Branch Office (SRG)

6. 31 July 2019 Sampling of Good Corporate Governance (GCG) Assessment 2018 Solo Branch Office (SOC)

August 2019

No. Date Description Branch/Unit

1. 22 August 2019 Terminal 1 Airport Business Partner Selection Surabaya Branch Office (SUB)

September 2019

No. Date Description Branch/Unit

1. 04-05 Sept. 2019 Monitoring and Discussion of the 2019 Financial Statements Semarang Branch Office Prognosis (SRG)

2. 17 Sept. 2019 Monitoring and Discussion of the 2019 Financial Statements Solo Branch Office (SOC) Prognosis

3. 18 Sept. 2019 Monitoring and Discussion of the 2019 Financial Statements Yogyakarta Branch Office Prognosis (JOG)

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Agenda Items of the Business Risk and Good Corporate Governance Committee Meetings

October 2019

No. Date Description Branch/Unit

1. 01 October 2019 Monitoring and Discussion of the 2019 Financial Statements Surabaya Branch Office Prognosis (SUB)

2. 02 October 2019 Monitoring and Discussion of the 2019 Financial Statements Makassar Branch Office Prognosis (UPG)

3. 03 October 2019 Monitoring and Discussion of the 2019 Financial Statements Bali Branch Office (DPS) Prognosis

December 2019

No. Date Description Branch/Unit

1. 03-04 December Monitoring of the Mezzanine Airport International Bali Branch Office (DPS) 2019 Departure Management Plan

Nomination and Remuneration Committee

To improve the application of GCG principles The Board of Commissioners of PT Angkasa related to the transparency of the nomination and Pura I (Persero) forwarded the remuneration remuneration process, at the time of this report, proposal from the Nomination and Remuneration dated April 22, 2020, PT Angkasa Pura I (Persero) Committee to the Major and Controlling had formed a Nomination and Remuneration Shareholders, to be ratified through the GMS Committee as stipulated in the Decree of the mechanism. Board of Commissioners No. KEP.05/DK.AP.I/2020.

Guidelines and Basis for Implementation of the Nomination and Remuneration Functions

The nomination and remuneration process The duties, responsibilities, authority and work demands responsibility in terms of implementing, procedures of the Nomination and Remuneration regulating, and enforcing GCG principles in terms Committee are regulated in the Nomination and of nominating strategic position of management Remuneration Committee Charter established by and deciding the remuneration amount for Board the Board of Commissioners of PT Angkasa Pura I of Directors as set by the Ministry of SOEs as the (Persero). GMS trustee.

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Duties Related to Nomination of Board of Directors

The duties of the Board of Commissioners related building program for members of the Board to the nominations of Directors assisted by the of Directors and / or members of the Board of Nomination and Remuneration Committee Commissioners include: 4. Provide input to the Board of Commissioners 1. Provide recommendations regarding the regarding the proposed candidates for composition of positions, policies and criteria, directors and/or members of the Board of and performance evaluation policies for Commissioners of Subsidiaries members of the Board of Directors and 5. Provide recommendations for candidates who members of the Board of Commissioners. qualify as members of the Board of Directors 2. Assess the performance of members of to be submitted to the GMS the Board of Directors and the Board of 6. As a talent committee for BUMN executives Commissioners (Directors and Officers one level below the 3. Provide recommendations to the Board Directors) of Commissioners regarding the capacity

Duties Related to Remuneration of the Board of Commissioners and Board of Directors

The duties of the Board of Commissioners related 2. Conduct performance appraisals with the to the Remuneration of the Directors assisted by remuneration conformity received by each the Nomination and Remuneration Committee member of the Board of Directors and/or include: members of the Board of Commissioners 1. Provide recommendations regarding the structure, policies, and amount of remuneration.

Policy on Succession of Board of Directors

The Nomination and Remuneration Committee - Formation of a team to conduct fit and supports the Board of Directors succession proper test and evaluation. process based on Minister of SOE Regulation 3. Fit and Proper Test and Evaluation Process, No. PER-01/MBU/2012 concerning Requirements namely: and Procedures for Appointment and Dismissal - Fit and proper test is conducted by the of Members of Board of Directors at SOEs. This team and/or a professional institution. regulation arranges, the following matters: - Results of fit and proper test are evaluated 1. Requirement that the candidates of members by the team and submitted to the Minister of the Board of Directors must meet the formal for a decision. and material criteria, as well as other stipulated 4. Process of appointing members of the Board requirements. of Directors, namely: 2. Preparation of Fit and Proper Test (UKK) and - The Minister may conduct an interview Assessment which includes: on the results of fit and proper test and - Compilation of the list of members of the evaluation conducted by the team and/ or Board of Directors whose terms of office professional institution. are expired; - The Minister appoints the selected - Selection of candidates of members of the candidates of the Board of Directors based Board of Directors; and on Ministerial Decree/ GMS.

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Organizational Structure, Membership, Independence and Meetings of the Committee

Description of the structure, name, position, Good Corporate Governance Committee can be biography, as well as disclosure of independence seen in the ‘Business Risk and Good Corporate and implementation of nomination and Governance Committee’ section of this Report. remuneration meetings by the Business Risk and

Realization of the Nomination and Remuneration Committee Activities

During 2019, the nomination and remuneration of nomination and remuneration activities functions were carried out appropriately under conducted in 2019 includes proposing the the activities of the Business Risk and Good remuneration of the Board of Commissioners and Corporate Governance Committee. The realization Board of Directors before submission to the GMS.

Corporate Secretary

The PT Angkasa Pura I (Persero) has Corporate relations, administer the leadership secretariat, Secretary to support the Board of Directors with and ensure that PT Angkasa Pura I (Persero) respect to Company disclosures. The main functions complies with applicable laws and regulations. of the Corporate Secretary are to establish internal The Corporate Secretary reports directly to the and external communications, manage investor President Director in the performance of its duties.

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Corporate Secretary Structure

The Corporate Secretary oversees 2 (two) 8, 2018 concerning the Organization and Work units, namely Corporate Communications and Procedures of the PT Angkasa Pura I (Persero) Stakeholder Relations and Board of Directors Head Office. Secretary. Provisions regarding the structure of the Corporate Secretary are listed in Board of Directors The structure of the PT Angkasa Pura I (Persero) Decree No. KEP.101/OM.01.01/2018 dated June Corporate Secretary is as follows.

President Director

Vice President Corporate Secretary

Stakeholder Relations Corporate & Board of Director Communication Secretary Senior Manager Senior Manager

Duties and Responsibilities of the Corporate Secretary

Based on Decree No. KEP.101/OM.01.01/2018 c. To ensure its role as people manager concerning Organization and Work Procedures of within the work unit. the Head Office, the Corporate Secretary Unit has d. To ensure that work unit activities are the following duties and responsibilities: implemented in accordance with the 1. 1. The Vice President Corporate Secretary’s established Work Plan and Budget (RKA). duty is to ensure the enhancement of the e. To ensure that work unit activities are Company’s profile through the management in accordance with and relevant to the of Company communications (external and management system applied by the internal), administration, and relationships Company. between stakeholders to support the f. To ensure that work unit activities are in achievement of the Customer Satisfaction accordance with the laws and regulations Index (CSI) based on the Company Work Plan and internal regulations of the Company. and Budget (RKAP) and GCG principles. The VP g. To ensure the implementation of activities Corporate Secretary also ensures compliance that enhance the corporate image. with laws and regulations and the internal h. To ensure effective communications with regulations of the Company. internal, external and media entities. 2. The responsibilities of the Vice President i. To ensure that material information/ Corporate Secretary are as follows: facts related to bonds are reported to a. To ensure the preparation of the Company the stakeholders in accordance with the Work Plan and Budget (RKAP). prevailing laws and regulations. b. To ensure achievements of the agreed j. To ensure the availability of Company management contracts. information and documentation for decision-making purposes.

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Profile and Brief Biography of the Corporate Secretary

Name and Position Profile

Indonesian Citizen, domiciled in Makassar

Age and Date of Birth: 43 years old, born in Jakarta on August 25, 1976.

Basis of Appointment: Handy Heryudhitiawan was appointed as Corporate Secretary based on Board of Directors Decree No. SKEP.1649/KP.07.03/2018 dated August 28, 2018.

Educational Background: • Diploma, PLP Curug, 1997 • Bachelor of Public Economy Management, College of Administrative Sciences, State Administration Institute, 2003 Handy Heryudhitiawan • Master in Management, Indonesian Muslim University, Makassar, 2005 Corporate Secretary Job Experiences: • ATC Junior Executive (1997 - 1999) • ATC Senior Executive (1999 - 2002) • ATC Radar Executive (2002 - 2009) • ATS Training Specialist (2009 - 2011) • Head of Public Relations for Sepinggan Airport Development Project – Balikpapan (2011 - 2013) • Corporate Communication Department Head, PT Angkasa Pura I (Persero) (2013 - 2015) • General Manager of Syamsudin Noor Airport – Banjarmasin (2015 – 2017) • General Manager of Sultan Aji Muhammad Sulaiman Sepinggan Airport – Balikpapan (2017 - 2018)

Competence Development of Corporate Secretary

During 2019, the Corporate Secretary did not participate in educational and/or training activities.

Realization of the Implementation of Corporate Secretary Activities

During 2019, the Corporate Secretary performed 7. Enhanced communication and coordination the following duties: within the Company (between units/between 1. Counseled, monitored and assisted the branches) management of office administration 8. Enhanced corporate image, increased and archives at branch Offices and Airport communications effectiveness, information Development Projects at 13 airports and Head disclosure and transparency, fostered public/ Office stakeholder trust 2. Accompanied the Board of Directors on work 9. Improved and strengthened relationship with visits the Media 3. Secured and safeguarded the company’s vital 10. Improved and strengthened relationships archives with business partners and the community 4. Arranged administrative and archival 11. Enhanced and strengthened the corporate coordination meetings as well as coordination brand image and fostered public trust through meeting for the Communication Summit 2019 the implementation of various events. 5. Organized 38 Board of Directors meetings 6. Developed HR and conducted comparative studies

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Internal Audit Committee

PT Angkasa Pura I (Persero) has an Internal Audit assist the President Director in overseeing the Committee, also known as the Internal Audit effectiveness of the internal control system and Unit whose establishment was based on Board GCG implementation. Its duties are synergized of Directors Decree No. KEP.101/OM.01.01/2018 with the functions of the Audit Committee and the concerning Organization and Work Procedures Business Risk and Good Corporate Governance of the Head Office. The Internal Audit Unit works Committee. under the Board of Directors and is tasked to

Organizational Structure and Position of the Internal Audit Unit

The Internal Audit Unit is directly responsible the Internal Audit Unit, namely Operational Audit to the President Director and is led by the Vice Department, Technical & Information Technology President Internal Audit. The appointment and Audit Department, Marketing and Business dismissal of the Vice President Internal Audit is Development Audit, Finance Audit department performed by the President Director with the and Human Capital and General Affairs Audit approval of the Board of Commissioners. 5 (five) Department. departments assist in carrying out the duties of

President Director

Vice President Internal Audit

Markerting Human Capital and Operation Audit Technical & IT Audit and Business Finance Audit Senior General Affair Audit Senior Manager Senior Manager Development Audit Manager Senior Manager Senior Manager

Marketing Operation Auditor Technical & IT Auditor and Business Finance Auditor HCGA Auditor Development Auditor

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Internal Audit Unit Charter and Code of Conduct of Auditors

The Internal Audit Unit of PT Angkasa Pura I (Persero) authority, scope, accountability, professional has an Internal Audit Charter as work guidelines standards and code of conduct. that was approved and ratified by the Board of C. Relationship Pattern: relationship of internal Commissioners in January 2017 based on Board of auditor with the auditee, external auditor, as Directors Decree No. KEP51.I/PG.01/2017. The Internal well as with the Audit Committee and the Audit Charter includes a discussion on its roles and Business Risk and Good Corporate Governance responsibilities and the basis for its establishment Committee. and supervisory duty. PT Angkasa Pura I (Persero) D. Internal Auditor Quality Improvement has disseminated the contents of the Internal Audit E. Quality Assurance. Charter to all employees and related parties in order F. Closing. to build understanding and good cooperation in realizing the Company’s vision and mission related Furthermore, the Internal Auditor Unit has to the implementation of internal audits. a Code of Conduct of Auditors to be used as reference in the implementation of its duties and The contents of the Internal Audit Charter include: responsibilities. The Code of Conduct covers the A. Introduction: background and vision and principles of integrity, objectivity, confidentiality, mission of Internal Audit. and competence. B. Internal Audit: definition, structure and position, functions, duties and responsibilities,

Internal Audit Information System

The audits performed by the Internal Audit are the needs of improving the quality of performance supported by System Information Management and increasing the role of Internal Audit in an effort Audit (SIMA), which allows automatic data to optimize Information and Technology General recording of all operational activities. Data Control (ITGC). collected from SIMA is then processed to meet

Duties and Responsibilites of the Internal Audit Unit

Duties and responsibilities of the Internal Audit operations, technical affairs, marketing Unit are as follows: and business development, finance and 1. To prepare the work plan and budget and information technology, human capital annual work programs of the Internal Audit and general affairs, corporate secretary, Unit. risk management and compliance, project 2. To prepare the audit program to assure the management office, procurement, and quality of the Internal Audit Unit. corporate planning and performance. 3. To carry out risk-based information gathering 4. To evaluate the effectiveness of the planning and inspection, oversee compliance process and implementation of internal control, against rules and regulations, assessments, the implementation of risk management and presentations, and suggestion for corporate governance in business processes improvements. Further, the unit shall provide in accordance with prevailing laws and assurance and consultation for the efficiency regulations, applicable Company policies, and and effectiveness of work units in accordance GCG principles. with their areas of responsibility, namely:

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5. To prepare reports on audit results and 9. To enhance knowledge, expertise and recommend improvements of the Company professional capabilities of internal auditors in and report to the President Director with a the Internal Audit Unit with certification. copy to the Board of Commissioners. 6. To act as a counterpart to the external auditor In carrying out its duties, the Internal Audit Unit and the Audit Committee in the audit activities implements the following stages: in the Company. 1. Audit planning. 7. To conduct special audit within the scope of 2. Conduct a preliminary survey (desk audit). internal control assigned by the President 3. repare the audit program. Director. 4. Perform audits. 8. To monitor, analyze, and report on the 5. Prepare work papers and reports. execution of follow-ups by work units on the 6. Monitor follow-ups. suggestions for improvement provided to the President Director.

Authority of the Internal Audit Unit

The Internal Audit Unit is authorized to: 7. Prepare and develop systems, guidelines, 1. Have access, both directly and indirectly, to planning, and work programs of the Internal documents, personal records, and physical Audit Unit in accordance with applicable assets of the Company in all of its organs standards and codes of conduct. (functions) to obtain data and information 8. Make decisions and corrective measures in the relating to the implementation of its duties. scope of work of the Internal Audit Unit based 2. Communicate directly and hold meetings on on applicable policies and procedures. a periodic and case-by-case basis with the 9. The Head of Internal Audit and Internal Auditor Board of Directors, the Audit Committee and do not have the authority to: the Board of Commissioners. a. Perform operational duties either in the 3. Define the methods, techniques, and audit Company or in subsidiaries. approaches to be carried out. b. Approve accounting transaction for the 4. Ask for advice and opinions from third parties Internal Audit Unit. or experts if needed in carrying out its duties. c. Regulate the activities of Company 5. Have a major role in assessing the effectiveness Employees outside the Internal Audit Unit, of GCG. except as agreed in addition to assisting 6. Develop competencies, roles and performance the Company. of Internal Audit Unit personnels through d. Department, Finance Audit Department, certification in the implementation of risk- and Human Capital & General Services based operational audits, GCG assessment, Audit Department. Information Technology, Company/ unit performance as seen from the Key Performance Indicator (KPI) data of the Company/Unit.

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Profile and Brief Biography of the Head of Internal Audit Unit

Name and Position Profile

Indonesian Citizen, domiciled in Jakarta

Age and Date of Birth: 49 years old, born in Medan on August 23, 1971

Basis of Appointment: Israwadi was appointed as Head of the Internal Audit Unit or Vice President Internal Audit on 28 August 2018 based on Board of Directors Decree No. SKEP.1648/ KP.07.03/2018.

Educational Background: - Bachelor of Industrial Engineering, Bandung Institute of Technology (1995) - Master in Marketing Management, Trisakti University (2005)

Israwadi Job Experiences: Head of Internal Audit Unit - Director of Finance, PT Angkasa Pura Hotel (2012-2016) - Corporate Secretary, PT Angkasa Pura I (Persero) (2016-2018)

The Chairperson of the Internal Audit Unit is appointed and dismissed by the President Director with the approval of the Board of Commissioners.

Number and Qualification of Internal Audit Unit Members

Professional Certification for Members Angkasa Pura I conducts audit processes that of the Internal Audit Unit adhere to international best practices. The internal auditors of PT Angkasa Pura I (Persero) use the Internal Audit Professional Standards (SPAI) The Internal Audit Unit of PT Angkasa Pura from the Consortium of Internal Audit Professional I (Persero) currently has 20 members with Organizations and the Code of Conduct from professional qualifications or certifications as The Institute of Internal Auditors. With reference follows. to these standards, the Internal Audit Unit of PT

Qualification of Internal Audit Unit Members of PT Angkasa Pura I (Persero) in 2019

No. Name Position Qualifications

1. Israwadi Vice President Internal Audit Advanced Internal Audit II, Basic Forensic Audit, CRP & CPIA Certifications

2. Jarot Handoko Commercial Audit Senior Advanced Internal Audit I, Intermediate Forensic Audit, Manager CRP & CPIA Certifications

3. Junius F. Walenta Finance Audit Senior Manager Basic Internal Audit II, Basic Forensic Audit, CPIA Certifications

4. MIlda Human Capital and General Advanced Internal Audit Services Audit Senior Manager

5. Esti Dewi Fitriani Technical & IT Audit Senior Basic Forensic Audit, QIA, CRP & CPIA Certifications Manager

6. I Made Adi Susilayasa Auditor Advanced Internal Audit II, Basic Forensic Audit, CRP & CPIA Certifications

7. Didi Suliyantono Auditor Basic Forensic Audit, QIA, CRP & CPIA Certifications

8. Insan Kamil Auditor Basic Forensic Audit, QIA & CRP Certifications

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Qualification of Internal Audit Unit Members of PT Angkasa Pura I (Persero) in 2019

No. Name Position Qualifications

9. Herriyanto Auditor Basic Internal Audit II and CPIA Certifications

10. Tri Suliati Auditor Basic Internal Audit & CPIA Certification

11. Karel Rianto Rantetana Auditor Basic Internal Audit

12. Titis Erawati Auditor Basic Internal Audit

13. Reni Dewita Auditor Basic Internal Audit

14. Triyanto Auditor Basic Internal Audit

15. Binsar Reynold Auditor Basic Internal Audit

16. Minda Afiani Auditor Basic Internal Audit

17. Agni Indradi Auditor Basic Internal Audit

18. Ujang Hendra Auditor Basic Internal Audit

19. Roni Setioko Auditor CRP, CPIA Certifications

20. Titik Budi Utami Internal Audit Officer CRP Certification

Education and Training of Internal Audit Unit Members in 2019 In order to improve the competence of the Internal The education and/ or training activities Audit Unit in carrying out its duties, PT Angkasa participated by the internal auditors during 2019 Pura I (Persero) provides an opportunity for are presented in the following table. members of Internal Audit Unit to participate in competency development activities.

Education and/or Training Programs of Internal Audit of PT Angkasa Pura I (Persero) in 2019

Name Training Organizer Date

• Yaka Sulistya W Certified Practitioner Of Internal YPIA 11 – 22 March 2019 • Karel Rianto R Audit I • Tri Suliati • I Made Adi S

• Restu Suryaningsih Certified Practicioner Of Internal YPIA 13 – 24 May 2019 • Titik Budi U Audit II • Israwadi • Junius F Walenta • Jarot Handoko • Insan Kamil • Didi Suliyantono

• Israwadi National Conference IIA Solo The Insitute Of Internal 24 – 25 June 2019 • Jarot Handoko Auditors • Junius F Walenta

Israwadi Workshop Audit Internal - Standar YPIA 4 – 5 July 2019 Audit Dan Kode Etik Profesi

Israwadi National Anti Fraud Conference Association Of Certified 9 – 11 July 2019 Bali Fraud Examiners (ACFE)

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Name Training Organizer Date

Esti Dewi F Workshop Integrating GRC Asia Anti Fraud 5 – 6 August 2019 Governance Risk And Compliance

Esti Dewi F Advanced Internal Audit Training YPIA 16 – 28 September 2019

Titis Erawati Basic Level Audit Training YPIA 18 – 2 March 2019

Esti Dewi F 17 – 29 June 2019

Agni Indradi 28 October – 9 November 2019

Israwadi Workshop on State Losses in Asia Anti Fraud 7 – 8 November 2019 SOE and SOE Risk Investment or Corruption

Israwadi International Workshop Best Indonesian Internal Auditor 24 – 28 November 2019 Practices In Implementing Association Effective Governance

Junius F Walenta Intermediate Level PPAK Forensic PPAK 9 – 16 December 2019 Audit Training

• Herriyanto National Internal Audit Seminar YPIA 24 – 25 April 2019 • Osim • Insan Kamil • Milda • I Made Adi S

Description of Duties of the Internal Audit Unit in 2019

During 2019, the Internal Audit Unit carried out The risk-based operational audits conducted at its work program effectively. A brief report on the airport branch offices are listed as follows. activities of the Internal Audit Unit in 2019 is as follows. 1. Implementation of Operational Audit at Airport Branch Offices

Implementation of Operational Audits in 2019

No. Implementation of Audit Audit Dates Order Number

1. Lombok Airport – Praya 6 – 15 February 2019 PRIN.DU. 44/PG.01/2019

2. Pattimura Airport – Ambon 6 – 15 February 2019 PRIN.DU. 43/PG.01/2019

3. Adi Soemarmo Airport – Solo 25 Feb – 8 March 2019 PRIN.DU. 63/PG.01/2019

4. Adi Soetjipto Airport – Jogjakarta 25 Feb – 8 March 2019 PRIN.DU. 64/PG.01/2019

5. El Tari Airport – Kupang 18 – 26 March 2019 PRIN.DU. 117/PG.01/2019

6. A. Yani Airport – Semarang 4 – 16 April 2019 PRIN.DU. 141/PG.01/2019

7. Sultan Syamsuddin Noor Airport – Banjarmasin 4 – 16 April 2019 PRIN.DU. 151/PG.01/2019

8. Frans Kaisiepo Airport – Biak 23 April – 2 May 2019 PRIN.DU. 185/PG.01/2019

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Implementation of Operational Audits in 2019

No. Implementation of Audit Audit Dates Order Number

9. SAMS Airport – Balikpapan 1 – 5 July 2019 PRIN.DU. 258/PG.01/2019

10. Sam Ratulangi Airport – Manado 15 – 19 July 2019 PRIN.DU. 277/PG.01/2019

11. Sultan Hasanuddin Airport – Makassar 5 – 9 August 2019 PRIN.DU. 330/PG.01/2019

12. I Gusti Ngurah Rai Airport – Bali 19 – 23 August 2019 PRIN.DU. 366/PG.01/2019

13. Juanda Airport – Surabaya 19 – 23 September 2019 PRIN.DU. 370/PG.01/2019

2. Accompaniment of External Audits - Digital Transformation (AOCC/AOCS, AIP) Assistance of external audits includes: to PT. APS - Accompaniment on Financial Statements - Extension of Business Partner at Audit in 2019 with the public accounting International Terminal, I Gusti Ngurah Rai firm (KAP) of Purwantono, Sungkoro & - Bali Surja - Draft Request For Activity Proposal - Accompaniment on Claims Audit by BPKP - Scoping for business and cooperation for Semarang Project, Check in Counter in opportunities at airports Bali and Banjarmasin. - Concurrent positions that can cause conflict of interest 3. Provide consultancy services to work units of - Evaluation of Direct Appointment the Head Office and branch offices: conditions at subsidiaries - Airport Service Concession Payment - Partnership offer in implementing the CAI - Resolution of Legal Problems for Hakaya PSS Technology System Hotel - EMPU Business and GSE Land Rental - Revision to the Decree on Procurement of Rates Goods & Services of AP.I - Collaboration between AP.I with Jakarta - Payments of Offshore Marketing GVK Infrastructure Propertindo - Amendment to the area of financial - Direct Appointment to subsidiaries related commitment of PT NU Prasada to the BPN Master Concession Champagne Gerai Prada Bar DPS - Establishment of Taskforce in the context - Principle permit for adjusting the of AP.I participation in the selection cooperation in managing SRG process of KPBU at Hang Nadim Airport – advertisement billboards Batam. - Procurement of PKP-PK Foam Tender - Draft MOU AP.I - Hang Nadim Consortium Type I vehicles (E-Catalog) Agreement and Placement of Operational - Brand Corridor Membrane Roof Closing HR at Terminal 4 of Kuwait Airport Works PPYIA - Discussion on plan to utilize assets at the - Settlement of Concession Payments former Selaparang Airport by PT. APS under No: SP.333/HK.06/2015/DU with the - Approval on Settlement of Addendum Ministry of Transportation to Agreement of PT. Taurus Gemilang on - Airport Hotel Development Plan at Package D22 Domestic Terminal of I Gusti Banjarmasin New Terminal Ngurah Rai Airpot – Bali - Business Partner Selection at A. Yani - Alternative Security Deposit Payment Airport– Semarang Phase II

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All levels of the Auditee are responsible and obliged to follow up on any findings of the assurance and consulting outcomes through coordination and collaboration between related units. Recapitulation of the follow-up to the findings of Internal Audit in 2019 is as follows:

Findings and Follow-Up of Audit Results in 2019

Balance Number of Findings Reccomendations Findings Recommendations

160 449 1 4

Risk Management Committee

The Risk Management Committee is tasked to Management Committee is regulated under PT assist the Board of Directors in controlling risk, Angkasa Pura I (Persero) Board of Directors Decree overseeing Company policies, and optimizing the No. SKEP.196/PG.01/2018 dated October 12, 2018. risk management function. Formation of the Risk

Organizational Structure and Membership of the Risk Management Committee

Membership of the Risk Management Committee C. MEMBERS consists of 1. Director of Operations 1. Committee Chair, led by the Finance Director 2. Director of Technical Affairs 2. Committee Secretary, held by the Vice President 3. Director of Marketing and Services of Compliance and Risk Management 4. Director of Business Development 3. Committee members, consisting of appointed 5. Director of HR and General Affairs Director Directors and officials one level below the of HR and General Affairs Board of Directors in the Head Office. 6. Vice President Internal Audit 7. Vice President Corporate Secretary Currently, the Risk Management Committee has 8. Vice President Legal 33 members including the Chair and Secretary, 9. Vice President Corporate Planning and with the following composition. Transformation 10. Vice President Airport Operation A. CHAIR 11. Vice President Airport Security DIRECTOR OF FINANCE 12. Vice President Airport Safety 13. Vice President Airport Engineering B. SECRETARY 14. Vice President Airport Facilities and VICE PRESIDENT COMPLIANCE AND RISK Maintenance MANAGEMENT

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15. Vice President Airport Equipment 25. Vice President Accounting 16. Project Management Airport 26. Vice President Finance Development 27. Vice President Procurement 17. Vice President Aeronautical Business 28. Vice President Human Capital 18. Vice President Non Aeronautical Business 29. Vice President Training and Development 19. Vice President Airport Services and 30. Vice President General Services Hospitality 31. Vice President Corporate Social 20. Project Management Airport Tourism and Responsibility Connectivity 21. Vice President Business Development and International Relations 22. Vice President Business Portfolio 23. Vice President Information Technology 24. Project Management Airport Digital

Duties and Responsibilites of the Risk Management Committee

The duties and responsibilities to be performed by b. Implementation of management the Risk Management Committee are: information systems. 1. To establish a comprehensive risk c. Accuracy of policies, procedures, and the management policy and strategy in writing. determination of risk appetite and risk a. The policy includes determining Risk tolerance. Appetite and Risk Tolerance, both 4. To conduct periodic reviews to anticipate composite risk, per type of risk, and per changes in the situation, conditions and functional activity. external and internal developments of the b. The risk management policy and Company. strategy is set at least once a year or 5. To establish matters related to business more frequently in the event of changes decisions that deviate from normal procedures in factors that significantly affect the (irregularities). Company’s business activities. 6. To monitor independence of the work unit in 2. To be responsible for monitoring charge of the Head Office Risk Management implementation of the risk management function. policy and the Company’s exposure as a whole, 7. To monitor the activities carried out by the including assessment and directions based on Risk Management and Compliance Unit. reports submitted by the Risk Management 8. To develop a risk awareness culture for all and Compliance Unit and the Internal Audit Company employees, through adequate Unit. communications to all employees regarding 3. To evaluate the effectiveness of risk the importance of effective internal control. management implementation on a regular 9. To develop human resource competencies basis, including: related to risk management. a. Methodology for implementing risk assessment.

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Profile and Brief Biography of the Chair of the Risk Management Committee

Currently, the Risk Management Committee is chaired by Novrihandri as Director of Finance. The profile of the Committee Chair can be seen in the Profile of Board of Directors section of this Report.

Implementation of the Risk Management Committee Activities

During 2019, the Risk Management Committee In addition, the Committee benchmarked to realized its duties and responsibilities other companies for the purpose of exchanging effectively. The Committee conducted regular knowledge and experience in matters of meetings to provide inputs to the Vice corporate risk management. President Compliance and Risk Management as the risk manager in the Company.

Risk Management System

PT Angkasa Pura I (Persero) ensures that the 2. To provide direction in the application of risk company’s business processes are in accordance management beginning with identification, with acceptable risk levels through a series of risk measurement, determination of handling management processes and the application of techniques, implementation of control good corporate governance. The implementation activities, communications, and monitoring. of risk management in the Company is described 3. As a medium for the development, outreach in Board of Directors Decree No. KEP.77/PG.01/2014 and improvement of risk management concerning Risk Management Guidelines of PT policies and other supporting regulations on Angkasa Pura I (Persero), which covers general risk risk management. management policies, roles and responsibilities, 4. As a guide for stakeholders in managing their risk management processes, work procedures, business risks. work instructions, and risk management form. 5. As a reference for Internal Audit in carrying out risk based audits. The objectives of the risk management system are as follows: 1. To map the distribution of authority and responsibilities of management

RISK MANAGEMENT STRATEGY

PT Angkasa Pura I (Persero) uses the ISO 31000 risk management process includes the following Risk Management Standard reference in five stages of activities: implementing enterprise risk management. The

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A. Communication and Consultation 3. Risk Evaluation This is an interactive process of exchanging Risk evaluation is carried out to determine information and opinions about risk and its risks that require risk treatment based on management, while consultation is a process priority. of communication between the Company and stakeholders regarding certain issues related D. risk Treatment to decision making or determining certain Risk treatment is performed to select one or steps in managing risks. more alternative methods or approaches used to reduce exposure. The selection of alternative B. establishing the Context risk treatments must be based on an analysis This step involves the mapping of current of the risk treatment costs compared to the conditions as a source of risk, both internal benefits gained in various related aspects. and external, in the achievement of targets, especially in the context of setting the risk E. monitoring and Review criteria. Monitoring includes ongoing monitoring by risk owners. Oversight on monitoring is the C. risk Assessment responsibility of the superior of the risk owner, 1. Risk Identification which is performed regularly and through The identification of risks is performed third parties involving periodic internal and prudently so that all relevant risks external audits. Meanwhile, the review involves including those beyond the Company’s a periodic evaluation of the effectiveness of the control can be ascertained to have been risk management system put in place, and the identified. effectiveness of the risk management process 2. Risk Analysis for improvement on an ongoing basis. Risk analysis includes determining the likelihood of occurrence of risk, the magnitude of impact of the loss by taking into account the sources and causes of risk as well as the control of existing risks and their effectiveness.

RISK PROFILE AND MANAGEMENT

Risks in the company are grouped into six achieving the company’s long-term vision and categories. In general, the risks faced by PT mission are described as follows: Angkasa Pura I (Persero) in the context of

No RISK Description of Risk Risk Management

1 Strategic The various threats/ opportunities To actively monitor changes in the business environment, Risk that affect the Company’s which either support or hinder the achievement of strategic strategic objectives, and caused objectives; to detect threats that must be mitigated by factors that either support or and useful opportunities that need to be exploited. The hinder the implementation of the achievement of various strategic targets in 2019 is indicative Company’s strategic programs. of the outcomes of strategic risk management.

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No RISK Description of Risk Risk Management

2 Financial The various threats/ opportunities The Company manages financial risk by vigorously recording Risk that affect the revenue, cost and monitoring its various financial indicators and factors and profitability targets of the that affect the achievement of revenue, cost and profitability Company, which may be caused targets in order to detect threats that require mitigation by factors that either support or and opportunities for exploitation. The outcomes of financial hinder the Company’s financial risk management are reflected in the Company’s financial performance. performance.

3 Investment The various threats/ opportunities The Company manages investment risk by monitoring Risk that have an impact on the changes in the business environment that either constrain Company’s investment targets, or support the achievement of various investment objectives, which may be caused by factors in order to detect the emergence of threats that must be that either hinder or support mitigated and opportunities that can be exploited. The the implementation of the results of investment risk management are illustrated in the Company’s various investment Company’s performance in achieving investment targets. programs.

4 Operational The various threats/ opportunities The Company manages operational risk by monitoring Risk that have an impact on traffic changes in the operational environment, both external and and service delivery targets, internal, which hinder or support the achievement of its traffic which may be caused by service delivery targets in order to detect the emergence of factors that either hinder or threats that must be mitigated and opportunities can be support the implementation exploited. The outcomes of operational risk management are of traffic enhancement and reflected in the Company’s performance in achieving traffic service delivery programs at the and service delivery targets. respective airports.

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RISK ASSESSMENT

Based on a series of risk monitoring processes These comprised of 407 risks at the Head Office, performed at the Head Office, branch 1,844 risks at branch offices and 64 risks related offices, and subsidiaries until the second to airport construction /development projects. half of 2019, the total active risks identified in PT Angkasa Pura I (Persero) was 2,315.

REVIEW OF THE RISK MANAGEMENT SYSTEM

PT Angkasa Pura I (Persero) constantly the development of the online-based risk reviews the effectiveness of implementation management information system allows the of the Risk Management System. The review Board of Directors to participate actively in the mechanism involves supervision by the Board of Company’s risk monitoring process. Commissioners and Board of Directors, adequacy of the information system, and adequacy of ADEQUACY OF IDENTIFICATION, the process of identification, measurement, MEASUREMENT, MONITORING, AND RISK monitoring, and risk control. CONTROL PROCESSES To ensure that the risk management process has SUPERVISION OF BOARD OF COMMISSIONERS been executed in accordance with the applicable AND BOARD OF DIRECTORS guidelines and regulations in the Company, the Through the Business Risk and GCG Board of Directors through the internal audit Committee, the Board of Directors and Board of unit performs checks, evaluations, reports and/ Commissioners regularly hold meetings with the or provides recommendations on the adequacy Compliance and Risk Management Unit in order and effectiveness of the process, which is then to monitor the risks faced by the Company and followed up through an evaluation by the Risk follow-up actions undertaken by risk owners to Management Committee. minimize these risks. The Compliance and Risk Management Unit reports the results of risk EVALUATION OF RISK MANAGEMENT monitoring within the Company at least twice IMPLEMENTATION a year to the Board of Directors and Board of In the effort to ensure that risk management Commissioners. has been able to play an important role in helping the achievement of the Company’s ADEQUACY OF RISK MANAGEMENT goals, starting in 2014 the Company conducted INFORMATION SYSTEM an annual evaluation together with external To answer the company’s needs for easily parties to measure the level of maturity of risk accessible data on risk in real time, currently a management implementation within PT Angkasa web-based module on risk management system Pura I (Persero). The maturity assessment aims is under development. to obtain a picture of the application of risk management in the Company compared to best This system aims to facilitate the Company’s practices and identify where improvements can risk managers in monitoring and updating be made, such that recommendations can be data related to risks owned by work units in real made to enhance the implementation of risk time and for easy documentation. Furthermore, management in the future.

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In general, maturity assessment within the general, all levels of the Company’s management Company is carried out once every two years, have achieved a good performance, as seen in which is based on a series of processes to the Corporate KPI score of 90.27 from the target measure Risk Management Maturity. In 2019, of 100.00. the Company’s risk management maturity level achieved a score of 3.37 from a scale of 5. In

Internal Control System

The Internal Control System implemented by CONTROL ENVIRONMENT PT Angkasa Pura I (Persero) is conducted with The control environment is a factor that reference to Minister of State-Owned Enterprises affects the entire company, especially with Regulation No. PER-01/MBU/2011 Article 26 regard to business ethics and GCG. The control concerning Implementation of Good Corporate environment is developed as an effective Governance in State-Owned Enterprises. foundation to support the running of the internal control component in PT Angkasa Pura Internal control is a process that involves the I (Persero). The control environment has the Board of Commissioners, management and other following elements: personnel, which is designed to provide adequate confidence in the effectiveness & efficiency of 1. Integrity and ethical values operations and the reliability of reporting and The various means adopted by top-level compliance with applicable laws and regulations. management to emphasize the importance Implementation of Internal Control within the of integrity and ethical values among Company is through the concept of three lines of company personnel. defense, as follows: a. The first line of control is at the frontline units, 2. Commitment and competence which is carried out by the operational unit Awareness of management of the mix of as risk owner and executor of the business intelligence, training and experience needed process, for employees to develop their potential. b. The second line of control is with the support units that have direct control over 3. Director and Audit Committee the company’s operations, such as financial Directors are responsible for ensuring that control, security, risk management, quality management fulfills its responsibilities control, inspection and compliance. for establishing and maintaining internal c. The third line of control is assurance over control, while the Audit Committee is the control processes conducted by the first responsible for recognizing management’s and second lines, which is performed by an refusal to acknowledge control or fraud independent unit within the company, namely in the financial statements, and to follow the Internal Audit Unit. appropriately.

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4. management philosophy and operating individuals having access to assets, data and style information, providing adequate security and Management has a major role in providing implementing other procedures to ensure a good control environment in the the physical control of assets in accordance organization. with their objectives.

5. Organizational structure 2. Separation of functions. Drawing up the lines of authority and This is intended to reduce errors, fraud and accountability relationships so that it can waste. The separation of functions within the contribute to the control environment both Company also aims to strengthen the internal in terms of providing a framework as a whole control system. In addition, this is conducted for planning, implementation, and control of in the effort to prevent irregularities and operations. for management to anticipate undesirable problems from occurring in the future. The 6. Delegation of authority and responsibilities following are examples of separation of A written memorandum regarding policies, functions: rules of the game, job descriptions, and so a. No one is allowed to control all the main on. aspects of events and transactions from beginning to the end of the process. 7. employee policies and practices b. Different employees (personnel) must The ability to develop trustworthy employees carry out the activities of authorizing, who have the required competencies in their processing, recording and reviewing. respective fields. c. The duties and responsibilities of the respective functions must be executed in FINANCIAL AND OPERATIONAL CONTROL accordance with the Standard Operating Financial control is the stage where the financial Procedures and work instructions to plan is implemented and feedback is received, ensure control over the separation of thereby requiring adjustment to ensure that the functions. plan can be executed, or to change the existing plan in response to changes in the operating 3. Events and transactions. environment. On the other hand, operational a. Control is performed to ensure that control is the placement process so that only valid events and transactions are operational activities are carried out effectively recorded in accordance with existing and efficiently. Operational and Financial provisions. Controls include: b. Control is performed to ensure that employees assigned with the specific 1. Physical control of assets. duties and responsibilities have properly The physical control of assets in a corporate authorized all events and transactions. environment is aimed at securing and c. The terms and conditions for granting protecting high-risk assets. This is important authorization must clearly be formulated because negligence in safeguarding and communicated to the heads of work assets will result in theft, embezzlement units and employees. and other forms of asset manipulation that will be detrimental to the company. Physical control of assets includes limiting

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4. Accurate and timely recording of events and interested parties can access the records at transactions. any time if needed. The recording of events Accurate and timely recording of events and transactions is part of internal control and transactions must be carried out within that must be executed appropriately. the company to ensure the availability of relevant, trusted and timely information to SUITABILITY WITH COSO assist leaders in making decisions to achieve Internal Control processes at PT Angkasa company goals. Pura I (Persero) are in accordance with the internal control framework of the Committee of 5. Limiting access and accountability on Sponsoring Organizations (COSO), which consist resources and its recording. of the following 5 (five) components: Access to company resources and records must be limited only to personnel who are 1. Control Environment assigned the responsibility and authority, Through the culture of SATU (Synergized, who then must account for managing Adaptive, Reliable and Excellent), the resources and maintaining all records. To implementation of Good Corporate ensure control is carried out correctly, this Governance (GCG) is regulated in a code of aspect must be verified periodically by conduct booklet that has been disseminated comparing the amounts recorded with the and distributed to all employees, and physical availability. accompanied with the signing of the Integrity Pact. 6. Proper recording of events and controlling transactions. Every event and transaction in the company must be documented properly to ensure that

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2. risk Assessment activities, email, website, intranet, HCIS PT Angkasa Pura I (Persero) has established (Human Capital Information System), a special unit to handle risk assessment, risk electronic libraries, and other media. During profiling and risk management. The risk audits by the Internal Audit, information and owners register all risks and risk mitigation communication was exchanged in phases is planned as stated in the risk profile. Risk between the auditor and auditee. profiles are used as background by the Internal Audit to conduct risk based audits. 5. Monitoring Mitigation plans that require expenditures to Monitoring activities according to COSO be made and proposed in the Budget Work principles were carried out through Plan (RKA) are based on the underlying risks. performance checks by technical supervisors and internal audit as well as external audit 3. Control Activities bodies. PT Angkasa Pura I (Persero) executed control activities in accordance with COSO principles, EVALUATION OF THE INTERNAL CONTROL i.e. through adequate separation of duties, SYSTEM appropriate authorization of transactions Evaluation of the effectiveness of the control and activities, proper documentation and system was performed through audits, both recording as stated in the Audited Annual internally by the Internal Audit, and externally by Financial Statements. In addition, physical an external Auditor. Management is responsible control was performed on assets and records, for the implementation of a reliable and as well as independent performance checks, effective Internal Control System and ensures both by Internal Audit and External Audit. that it has been embedded at every level of the organization’s Internal Control System as 4. Information and Communication a whole. Further, supervision is carried out to PT Angkasa Pura I (Persero) has provided support the assertion of the Board of Directors information and communication through on the effectiveness of the Company’s Internal coordination meetings, dissemination Control System.

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The evaluation results are submitted to during 2019, the internal control system at PT management for follow up and monitoring to Angkasa Pura I (Persero) is considered to be ensure that the Internal Control System can adequate. run effectively. Based on evaluations conducted

Public Accountant

Based on Financial Services Authority (OJK) During the audit process. PT Angkasa Pura I Regulation No. 13/POJK.03/2017 concerning Use of (Persero) facilitated regular meetings between Public Accountant Services and Public Accounting the public accounting firm (KAP) and the Audit Firms in Financial Services, PT Angkasa Pura and Management Committee. As a result, audit I (Persero) conducts an annual financial audit activities run well in accordance with Professional of the company using external audit services. Accounting Standards and work agreements and In this regard, the Company guarantees the audit scope as well as the set timelines. independence of external auditors who do not have a conflict of interest so that the quality of the audit and the results can be trusted by stakeholders.

Implementation of External Audit Function

In addition to KAP, PT Angkasa Pura I (Persero) agencies. Public Accounting Firm (KAP) works was also audited by other external parties, in accordance with the agreed contract with the namely the State Audit Board (BPK) and the Company to audit the financial statements and National Audit and Development Board (BPKP). key performance indicators (KPI) of the Company. PT Angkasa Pura I (Persero) is a state-owned On the other hand, BPK and BPKP carry out the enterprise (SOE) and, according to regulations, function to audit the financial statements, KPIs, must be audited by the two Government and internal audit performance of the Company.

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Appointment of Public Accountant

Appointment of the Public Accounting Firm PT Angkasa Pura I (Persero) appointed the to audit the annual financial statements of PT Public Accounting Firm (KAP) of Purwantono, Angkasa Pura I (Persero) for 2019 was conducted Sungkoro & Surja through the Annual GMS through a tender process and overseen by the based on recommendations from the Board of Audit Committee and the Internal Audit Unit. Commissioners and the Audit Committee. To conduct the audit in Financial Year 2019,

Public Accounting Firm, Name of Accountant, and Audit Services Fees

Disclosure on the list of Public Accounting Firms (KAP), name of accountants, and service fees incurred by the Company for the last 5 (five) years is as follows:

List of Public Accounting Firms for the Last 5 Years

Permit of Public Name of Accountant Audit Services Year Public Accounting Firm Period Accounting (Partner in Charge) Fee Firm License Number

2019 KAP Purwantono, Moch. Dadang Rp 2.597.430.000 KMK NO. 603/ Sungkoro & Surja Syachruna KM.1/2015 2 Periods 2018 KAP Purwantono, Moch. Dadang Rp2.962.294.500 KMK NO. 603/ Sungkoro & Surja Syachruna KM.1/2015

2017 KAP Djoko, Sidik dan Indra Indra Soesetiawan Rp1.989.955.000 NIUKAP: 959/ 1 Period KM.1/2014

2016 KAP Hadori Sugiarto Adi Wijadi, Ak, CPA Rp1.749.632.500 KEP-444/ dan Rekan KM.1/2009 3 Period 2015 KAP Hadori Sugiarto Adi Wijadi, Ak, CPA Rp1.455.281.100 KEP-444/ dan Rekan KM.1/2009

* Price includes fees for other services provided by accountants.

Other Services Provided by Accountants

In 2019, the appointed Public Accounting Firm 3. Independent Auditor Report on Key (KAP) also provided other services in addition to Performance Indicators for the Year Ended on the annual financial statement audit services in December 31, 2019; the last financial year, namely: 4. Assessment Report on Compliance against 1. Independent Auditor Report on PT Angkasa the Laws and Regulations for the Year Ended Pura I (Persero) Partnership and Community on December 31, 2019; Development Program (PKBL) Financial 5. Assessment/Study Reports on the adequacy Report for the Year Ended on 31 December of internal controls implemented by the 2019; management of PT Angkasa Pura I (Persero) 2. Performance Evaluation Report of PT Angkasa for Financial Year 2019. Pura I (Persero) for the Year Ended on December 31, 2019;

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Legal Proceedings

In 2019, PT Angkasa Pura I (Persero), its subsidiaries, under process of settlement. Further, 7 cases that members of the Board of Directors, and members were closed in 2019 were continuations from the of the Board of Commissioners were faced with previous year. several legal proceedings. A total of 6 cases, both civil and criminal cases, have been resolved. On A summary of legal proceedings throughout 2019 the other hand, 8 civil and criminal cases are still can be seen below.:

Legal Proceedings Faced by the Company, Subsidiaries, Members of the Board of Commissioners, and Members of the Board of Directors by Type of Case in 2019

Number of Cases No Type of Case Closed Ongoing

1 CRIMINAL - -

2 CIVIL 6 8

Total 6 8

Note: Includes Business Competition Cases and Accompaniment by the Guards, Government Safeguards and Regional Development (TP4P) and Industrial Relations

Furthermore, several legal proceedings faced in 2019 along with the case status and its effect on the Company are explained as follows.

Legal Proceedings Faced by the Company, Subsidiaries, Members of the Board of Commissioners, and Members of the Board of Directors in 2019

Risks faced by Effect Settlement the Company and Management ADMINISTRATIVE No Merits of Case Against the Status nominal value of Efforts SANCTIONS Company claims/lawsuits

1 Lawsuit filed by Paulus Wuwungan The settlement None Claim for Monitor and None concerning Unlawful Acts against: process is at compensation of Rp assist in the a. Minister of Transportation the Manado 335,000,000,000 settlement b. PT Angkasa Pura I (Persero) District Court process of the c. Minister of State-Owned case Enterprises

under Case Number 252/Pdt.G/2019 / PN.MND

2 Lawsuit filed by Maria Nellie Awuy The settlement None Claim for Monitor and None Sumakul concerning Unlawful Acts process is compensation of Rp assist in the against: currently 64,123,200,000 settlement a. The Transportation, under appeal process of the Communication and at the North case Information Department of Sulawesi High Province Court b. President Director of PT Angkasa Pura I (Persero) c. Minister of Finance d. Minister of State-Owned Enterprises

under Case Number 465/Pdt.G/ 2016/ PN.MND

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Effect Risks faced by Settlement Against the Company and Management ADMINISTRATIVE No Merits of Case Status the nominal value of Efforts SANCTIONS Company claims/lawsuits

3 Lawsuit filed by PT Aneka Glass The settlement None Claim for Coordinate None Abadi concerning non-performance process is compensation of Rp with PT of contract against PT Makassar currently at 773,868,500 Makassar Indah Graha Sarana and PT Angkasa the Supreme Indah Graha Pura I (Persero) under Case Number Court of the Sarana to 352/PDT.G/2010/PN.JKT.PST jo. 385/ Republic of immediately PDT/2011/PT.DKI jo. 2764 K/Pdt/2012 jo. Indonesia cq. resolve the 564 PK/PDT/2016 Central Jakarta case District Court

4 Civil Lawsuit filed by Lalu Ramli et al The settlement None Claim for Monitor and None concerning Unlawful Acts against: process is compensation of Rp assist in the a. PT Angkasa Pura I (Persero) under appeals 105,132,000,000 and settlement b. President of the Republic of process at material and moral process of the Indonesia the Supreme compensation of Rp case c. Minister of State-Owned Court of the 3,360,000,000. Enterprises Republic of d. Governor of West Nusa Tenggara Indonesia e. Regent of Central Lombok f. Corruption Eradication Commission g. National Land Agency of Central Lombok h. National Human Rights Commission i. Chairman of the NTB Parliament j. Chairperson of Parliament

under Case Number 039/Pdt.G/ 2018/ PN.Pya jo. 77/Pdt/2019/ T.Mtr

5 Lawsuit filed by Hamni et al The settlement None Claim for Monitor and None concerning Unlawful Acts against: process compensation of Rp assist in the a. PT Angkasa Pura I (Persero) is under 2.608.693.750 settlement b. Banjarbaru City Land appeals at process of the Procurement Committee the Supreme case c. Banjarbaru National Land Agency Court of the d. Head of Syamsudin Noor Urban Republic of Village Indonesia

6 Lawsuit filed by Muhammad Bin Banjarbaru None • Material loss: Monitor and None Abdurraup for Unlawful Acts against: District Court Personal assist in the a. PT Angkasa Pura I (Persero) rejected the compensation settlement Syamsuddin Noor - Defendant I Plaintiff’s Land: 97.200 m2 process of the b. General Manager of PT Angkasa claim under X Rp.300.000,- case Pura I (Perseo) Syamsudin Decision = Rp. Noor Airport Branch Office - Number: 29/ 29.160.000.000,- Defendant II Pdt.G/2018/ Compensation PN.BJB. for public under Case Number 29/Pdt.G/2018/ purpose PN.BJB The Plaintiff Land: 97.200 m2 then filed an X Rp.250.000,- = appeal. Rp. 24.300.000.000,- • Immaterial loss Rp.400.000,- x 12 = Rp. 4.800.000,-

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Risks faced by Effect Settlement the Company and Management ADMINISTRATIVE No Merits of Case Against the Status nominal value of Efforts SANCTIONS Company claims/lawsuits

7 Lawsuit on Industrial Relations Judicial None None Keep an eye None Dispute filed by Wawan Zulmawan process on the court against PT Angkasa Pura I (Persero) has been decision under Case Number 153/Pdt.Sus.PHI completed. /2019/PN.JKT.PST jo 901 K/Pdt.Sus- Lawsuit PHI/2019 of Wawan Zulmawan was rejected

8 Lawsuit on Overpayment against The lawsuit of None None Coordinate None the Stipulation of Consignment 103/ PT Angkasa with National Pdt.P.K/2017 filed by PT Angkasa Pura Pura I Land Agency I (Persero) against Kerto Sertiko under (Persero) was and the Wates Case Number 1156/ Dju.4/HK.02/ granted and a District Court VIII/2018 refund of Rp 589,833,086 was received.

9 Claim on outstanding arrears against Assets Recording None Coordinate None PT Kalstar Aviation’s bankruptcy are being Kalstar with curator assets by PT Angkasa Pura I (Persero) auctioned off arrear as stated in the Decision of PT Kalstar by a curator payments Aviation’s Bankruptcy Number 63/ as company Pdt.Sus.Pailit/2017/ PN.Niaga.Jkt.Pst. income

10 Delay of Debt Obligation Payments Settlement Receivables None Keep an eye None by PT Merpati Nusantara Airlines process has from PT on the creditor (Persero) been approved Merpati meeting by creditors Nusantara outcomes Airlines (Persero) to PT Angkasa Pura I (Persero) were converted to shares

11 Lawsuit on non-performance of The verdict of None None Keep an eye None contract filed by PT Aksara Indah the hearing on the court against PT Angkasa Pura I (Persero) stated that the decision under Case Number 139/Pdt.G/2018 / lawsuit was PN.SLEMAN not acceptable

12 Lawsuit filed by Iwan Sardjono on The settlement None None Keep an eye None Unlawful Acts against: process is at on the court a. President Director of PT Angkasa the appeal decision Pura I (Persero) cq. General stage Manager of PT Angkasa Pura I (Persero) b. Yusuf Maryoto c. Banjarbaru City Land Procurement Committee d. National Land Agency (BPN) cq. Head of Province Land Office cq. Head of the Banjarbaru City Land Office

under Case Number 19/Pdt.G/2018/PN Bjb jo 25/PDT/2019/PTBJM

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Risks faced by Effect Settlement the Company and Management ADMINISTRATIVE No Merits of Case Against the Status nominal value of Efforts SANCTIONS Company claims/lawsuits

13 Lawsuit on Unlawful Acts between: Judicial None None Keep an eye None a. Plaintiff I: Suwarsi process on the court b. Plaintiff II: Eko Wijanarko has been decision c. Plaintiff III: DM.Endah Prihatini completed. d. Plaintiff IV: Hekso Leksmono Lawsuit of the Purnomowati E plaintiffs was e. Plaintiff V: Nugroho Budiyanto rejected f. Plaintiff VI: Rangga Eko Saputro g. Plaintiff VII: Diah Putri Anggraini

Against: a. Kanjeng Gusti Pangeran Adipati Aryo Paku Alam V b. Director of PT Angkasa Pura I

under Case Number 24/Pdt.G/2017 / PN.Wat jo 62/Pdt/2018/PT YYK

14 Investigation by the Commission for The None None Keep an None Supervision of Business Competition investigation eye on the of the Republic of Indonesia for process investigation alleged violations of Law Number 5 has been process of 1999 related to passenger tickets completed for economy class on scheduled domestic flight routes as per Letter of Acting Deputy for Law Enforcement of KPPU No 257/DH/P /V/2019

15 Investigation of alleged corruption in Under None None Provide legal None the Development of Bali Package III investigation assistance Project by the Corruption Eradication process to the Commission investigated company personnel

16 Investigation into alleged corruption The None None Provide legal None in the Procurement of Rubber investigation assistance Deposit Removal by the Metro Jaya process to the Regional Police has been investigated completed company personnel

17 Investigation of alleged corruption Under None None Provide legal None in connection with the Sale investigation assistance to and Purchase of Flats on Land process the company Management Rights on behalf of PT personnel Angkasa Pura I (Persero) questioned as witnesses

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Administrative Sanctions

During 2019, no administrative sanctions were Directors by the authorities related to capital imposed on PT Angkasa Pura I (Persero), members markets, banking and others. of the Board of Commissioners and Board of

Code of Conduct

PT Angkasa Pura I (Persero) has a code of conduct behavior is consistent with the Company culture or the Company code of ethics as guidelines for and in line with efforts to achieve the Company’s every individual working in the organization. The vision and mission statements, including in Code has the objective of ensuring that individual relation to GCG implementation.

Code of Conduct Subject Matter

The code of conduct guidelines for PT Angkasa concerning Code of Conduct of PT Angkasa Pura Pura I (Persero) is regulated under Board of I (Persero). The code of conduct regulates the Directors Decree No. KEP.43 / OM.04 / 2014 subject matters as follows:

Chapter I Introduction Contains rationale; the objective of code of conduct guidelines; purpose of the code of conduct, responsibilities of employees to uphold the code of conduct; and the responsibilities of leaders of the Company to uphold the code of conduct.

Chapter II Vision, Mission, Commitment and Corporate Work Culture Contains the vision and mission statements; Company commitment; and the Company work culture.

Chapter III Work Ethics Contains ethics and behavior of Commissioners, Directors and employees; occupational health and safety and work environment; intellectual property rights; information and communication technology systems; document storage; financial recording and reporting; securing Company assets; confidentiality of information; Company reputation and image; conflict of interest; bribery and corruption, collusion and nepotism; donations, meals and gifts; official travel expenses; and contributions to political activities.

Chapter IV Business Ethics Contains compliance with laws, regulations and policies; Company relationship with customers, government, business partners, suppliers, creditors/ investors, and subsidiaries/ joint ventures/ affiliated companies; and social responsibility to the community.

Chapter V Application of the Code of Conduct Contains dissemination of code of conduct, brief guidance for implementation of the Company’s compliance statement, channel for complaints; and sanctions for violating the code of conduct.

Chapter VI Closing

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Compliance against Code of Conduct

PT Angkasa Pura I (Persero) continuously strives Thus, all personnels of PT Angkasa Pura I to ensure that the existing code of conduct (Persero) sign an annual statement that they is complied and adhered to by all Company have received, understood and agreed to comply Personnels, including members of the Board with the Code of Conduct. In order to support of Commissioners, members of the Board of good corporate governance, each supplier Directors, and employees in accordance with working with the Company is also required to the Joint Decree of the Board of Directors and sign an Integrity Pact as one of the conditions for Board of Commissioners No. KEP.111/OM.04/2019 registering the company in the PT Angkasa Pura and Number KEP.03/DK.API/ 2019 concerning I (Persero) Vendor Management System (VMS). Code of Conduct of PT Angkasa Pura I ( Persero).

Dissemination of the Code of Conduct

PT Angkasa Pura I (Persero) guarantees that conduct through the new employee orientation all personnels of the Company at every level program, distribution of employee pocket books, understand and apply the code of conduct dissemination of information related to the through the implementation of code of company’s code of conduct on internal websites, conduct dissemination. Every personnel of as well as through other activities and media the Company receives training on the code of owned by the Company.

Efforts to Implement and Enforce the Code of Conduct

Efforts to implement and enforce the code Proven violations of the Company code of conduct of conduct are carried out through various will be subject to sanctions in accordance with approaches, including mechanisms for reporting applicable regulations and in accordance with suspected violations. If there is a suspicion that the level of violation. Sanctions are imposed the code of conduct has been violated, every through an objective, independent, tiered, individual in PT Angkasa Pura I (Persero) is and non-discriminatory process. Enforcement required to report it to the Board of Directors, of the code of conduct and investigation of Board of Commissioners, or the head of work unit disciplinary violations by Company employees in charge of personnel matters. In the event that is also performed by the Employment Advisory a report is made, PT Angkasa Pura I (Persero) is Board (BPK) and Committee for Supervision and committed to protecting and guaranteeing the Investigation of Employee Disciplinary Violations confidentiality of whistleblowers. (P4DP).

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Types of Sanctions for Violations of the Code of Conduct

The following table describes types of sanctions that are imposed on violators of the code of conduct according to the level of violation:

Types of Sanction for Violations of the Code of Conduct in PT Angkasa Pura I (Persero)

Level of Sanction Type of Sanction

Minor Disciplinary • Verbal admonition/reprimand Sanction • Written admonition/reprimand • Written statement of dissatisfaction • Deferred periodic salary increase

Moderate Disciplinary • Salary reduction equal to the amount of a periodic salary increase for a maximum of Sanction 1 (one) year. • Demoted to a rank a level lower for a maximum of 1 (one) year. • Demoted to a position class a level lower for a maximum of 1 (one) year

Severe Disciplinary • Dismissed from a structural position and excluded from any structural position Sanction • Demoted to a rank 2 (two) levels lower or more • Demoted to a position class 2 (two) levels lower or more. • Disrespectfully dismissed not at his/her own request as an employee. • Disrespectfully dismissed as an employee.

Number of Violations of the Code of Conduct in 2019 In 2019, PT Angkasa Pura I (Persero) has dealt with This indicates that the sanctions for violations of 13 violations of the code of conduct. This number the code of conduct in the company has been increased compared to the number of violations imposed, and it is hoped that the firmness that in 2018 of 7 cases. has been carried out will further enhance the compliance of the company’s personnels.

Number of Violations of the Code of Conduct in 2019

Number of Violations Level of Sanction 2019 2018

Minor Disciplinary Sanction 3 -

Moderate Disciplinary Sanction 1 1

Severe Disciplinary Sanction 13 6

Total 17 7

Follow ups were carried out by PT Angkasa Pura cases were followed up by demotion to a position I (Persero) related to violations of the code of class 2 (two) levels lower or more, 1 (one) case were conduct by type of violation. In 2019, there was 1 followed up by written admonition/reprimand. (one) case that ended with dismissal, 12 (twelve)

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Whistleblowing System

Whistleblowing System (WBS) is set out in Board 3. To reduce the risks faced by PT Angkasa Pura of Directors Decree No. KEP.192/PG.01/2016, as I (Persero) from all forms of violations. amended by the Board of Directors Decree No. 4. To provide a mechanism to deal with internal KEP.69/PG.01/2018. Dissemination of WBS is violations so as not to become a public carried out through infographic videos aimed violation issue. at raising awareness about the Whistleblowing 5. To disclose violations in PT Angkasa Pura I System and motivation to prevent fraud in the (Persero) that are not in accordance with Company. ethical and legal standards. 6. To create a conducive work climate and be The objectives of implementation of WBS in PT a means for stakeholders and the Company Angkasa Pura I are: personnels to report on issues that potentially 1. To realize GCG principles. cause losses to PT Angkasa Pura I (Persero), 2. To prevent fraud, unlawful acts, ethics either financial and non-financial, which can violations and other violations, as the damage the image and business continuity Whistleblowing System is able to enhance of the Company. detection and reporting of potential violations.

Submission of Violation Reports

WBS can be used by all personnels of PT Angkasa Pura I (Persero) regardless of position and gender. The whistleblowers can access WBS online or submit hard copies of report documents or evidence to:

Compliance Department PT Angkasa Pura I (Persero) Head Office, Jakarta Graha Angkasa Pura I Jl. Kota Baru Bandar Kemayoran Blok B. 12 Kav 2 Gunung Sahari Selatan, Kemayoran Jakarta Pusat, 10610 Indonesia Website: wbs.ap1.co.id

Reports through WBS may state the identity of explanation of the suspected violation, location the person or not (anonymous), but the complaint of the violation, time of the violation, and the must provide clear information, evidence, or parties suspected of being involved in committing allegations . The report elements must include an violations.

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WBS Online Access of PT Angkasa Pura I (Persero)

Complaint Handling

The types of complaints that can be reported 8. Leaking the Company’s confidential through WBS are: information 1. Misusing of Company’s facilities. 9. Blackmailing 2. Threatening Behavior. 10. Stealing 3. Embezzling the Company’s money 11. Committing a fraud 4. Misusing one’s position for personal or group 12. Cheating interests or for other interests other than the 13. Committing a disciplinary violation Company’s interests 14. A conflict of interests 5. Embezzling the Company’s assets. 15. Corruption. 6. Accepting, giving, or asking for gratification 16. Collusion 7. Committing ethics violations and engaging 17. Nepotism. in disgraceful conduct

Whistleblower Protection

PT Angkasa Pura I (Persero) guarantees protection the Whistleblowing System of PT Angkasa Pura I for whistleblowers and reported parties set forth (Persero). The warranty protection is expected to in PT Angkasa Pura I (Persero) Board of Directors encourage whistleblowers to report suspected Decree No. KEP.212/HK.01.01/2019 concerning violations in the Company, so that the WBS can be Amendment to the Board of Directors Decree an effective system. No. KEP.69/PG.012018 concerning Guidelines for

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The forms of the Company protection for related to the whistleblower, reported party, and whistleblowers include, among others, the report content, then PT Angkasa Pura I (Persero) is guarantees of confidentiality of the identity no longer obliged to guarantee the confidentiality and contents of the report, and security from and protection that is the right of the whistleblower. threats or harmful behavior. The whistleblower is protected from unfair dismissal, demotion, On the other hand, the reported party also obtains intimidation, harassment or discrimination, and a guarantee for the confidentiality of identity is protected from other actions that may harm as long as the suspected violation has not been the whistleblower. Protection for whistleblowers proven. The reported party is given the opportunity is provided by considering the principle of to mount a defense and provide an explanation on confidentiality between the whistleblower and the the evidence found. Company. If the whistleblower leaks confidentiality

Parties in Charge of the Management of Reports on the Whistleblowing System

The Whistleblowing System is managed by the of Directors Decree No. KEP.212/HK.01.01/ 2019, Whistleblowing System Management Team consisting of: formed by the PT Angkasa Pura I (Persero) Board

No. Composition Position in Team

Steering

A Board of Commissioners Supervisor

Board of Directors Person in Charge

Executor

Vice President Compliance and Risk Management Chair B Compliance Senior Manager Deputy Chair

Compliance Officer Administrator

The Committee for Supervision and Investigation 2. Suspected Violations by the Task Force, of Employee Disciplinary Violations (P$DP) of Employee Agreement for a Specific Period PT Angkasa Pura I (Persero) has the authority to (PWKT), Employee Agreement for an investigate and decide on sanctions for violations, Indefinite Period (PWKTT), and Outsourced with the following authority: Employees. The handling of reports on suspected violations 1. Suspected Violations by Employees of PT related to and/or committed by the Task Force, Angkasa Pura I (Persero). PKWT, PKWTT, and outsourced employees is Handling of reports on suspected violations under the authority of the President Director related to and/or committed by Angkasa Pura which is forwarded to the Human Capital I Employees, including the Whistle Blowing Group Head so that they can be followed up in System Management Team that manages accordance with relevant provisions. WBS is under the authority of the President Director.

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3. Suspected Violations by the Board of 4. suspected Violations by Supporting Organs Directors and/or Board of Commissioners. of the Board of Commissioners. The handling of reports on suspected violations Handling of reports on suspected violations related to and/or committed by the Board of related to and/or committed by the Supporting Directors and/or Board of Commissioners is Organs of the Board of Commissioners is submitted to shareholders/Ministry of SOEs. adjusted to the relevant provisions. The Board of Commissioners in accordance with their authority, GMS and the Company Articles of Association, can follow up reports on suspected violations related to and/or committed by members of the Board of Directors.

Complaint Handling Mechanism

WHISTLEBLOWING START SYSTEM MANAGEMENT TEAM

WHISTLE BLOWER FILLING DATA VERIFICATION INITIAL RESEARCH PROCESS KNOWS THE VIOLATION INFRINGEMENT AND 4W1H ANALYSIS AND REPORTING OF EARLY TAKEN BY PT ANGKASA FORM THROUGH RESEARCH RESULTS PURA I (PERSERO) PT ANGKASA PURA PERSONNEL I (PERSERO) WBS WEBSITE www.wbs.ap1.co.id

PRESIDENT DIRECTOR

BOARD OF P4DP HUMAN CAPITAL SHAREHOLDERS COMMISSIONERS

IF THE REPORTED IF THE REPORTED IS IF THE REPORTED IF REPORTED IS IS AN ORGANIC PKWT, PKWTT, TASK IS DIRECTOR OR AN BOARD OF EMPLOYEE FORCE, OUTSOURCED COMMISSIONER COMMISSIONERS’ SUPPORTING ORGAN • Carry out inspections • Carry out inspections • Carry out and decide sanctions according to the investigation and • Carry out according to provisions decide sanctions in investigation and provisions • If the reported party accordance with the decide sanctions in • Submit the audit is PKWT, PKWTT, Task provisions accordance with the report to the Director Force: processed provisions of Personnel and according to contract General to be • If the reported party forwarded to the is Outsourced: it is President Director forwarded to the Service Provider Company

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Complaint Handling Outcomes

In 2019, PT Angkasa Pura I (Persero) did not receive any new complaints through the WBS. Further, there were no complaints under process carried out from the previous year.

Complaints through WBS of PT Angkasa Pura I (Persero) 2017-2019

Description 2019 2018 2017

Number of complaints from last year, per January 31 0 0 0

Incoming complaints in the financial year 0 0 0

Complaints processed throughout the year: 0 0 0 • Complaints processed and completed, per December 31 • Complaints not yet processed, per December 31

Number of complaints continued in the following year 0 0 0

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Implementation of Good Corporate Governance Principles According To Financial Services Authority Guidelines

PT Angkasa Pura I (Persero) has implemented 8 (eight) principles of corporate management in accordance with the Guidelines on Governance of Limited Liability Companies by the Financial Services Authority (OJK), as follows:

Principle Recommendation Implementation Status

Principle 1

To increase value 1. Method or procedure for voting PT Angkasa Pura I (Persero) has a Comply in Organizing the technicalities, either open or closed, technical procedure for collecting votes as General Meeting should prioritize independence and the stated in the rules of the General Meeting of Shareholders interests of shareholders. of Shareholders. (GMS). 2. Members of the Board of Directors and All members of the Board of Directors and Comply Board of Commissioners should attend Board of Commissioners attended the the Annual GMS. GMS.

3. Summaries of GMS minutes are PT Angkasa Pura I (Persero) has uploaded Comply available on the official website for at the Summary of GMS Minutes on the least one year. Company website at https://ap1.co.id/id/ hubungan-investor/rups.

Principle 2

To improve the 1. To have a communications policy PT Angkasa Pura I (Persero) has a Comply Communications as a Limited Liability Company with communications policy for Investors Quality of Limited shareholders or investors. through investor gathering and site visit Liability Company activities. with Shareholders or Investors. 2. To disclose the communications policy The official website of PT Angkasa Pura Comply at the Company website. I (Persero) contains information that aims to increase participation and the role of shareholders in establishing good communications.

Principle 3

To strengthen 1. Determination of membership of the Based on Law No. 19 of 2003 Comply the Membership Board of Commissioners is with due concerning SOEs and SOE Minister and Composition consideration of company conditions. Regulation No. PER-01/MBU/2011 of the Board of concerning Composition of the Board Commissioners. of Commissioners, PT Angkasa Pura I (Persero) must allow effective, precise and fast decision making and to be able to act independently.

2. Determination of the composition Based on Shareholder policy, the Board Comply of members of the Board of of Commissioners has been chosen with Commissioners takes into account the due regard to the diversity of expertise, diversity of expertise, knowledge and knowledge, experience and conditions, experiences required. and the business complexity of PT Angkasa Pura I (Persero).

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Principle Recommendation Implementation Status

Principle 4

To improve 1. The Board of Commissioners has PT Angkasa Pura I (Persero) has a policy Comply the Quality an appraisal policy to assess its own of evaluating the performance of the of Duties and performance. Board of Commissioners, which serves Responsibilities as a guideline for evaluating company Performed by performance. The performance evaluation the Board of of the Board of Commissioners can be Commissioners. seen in this annual report.

2. The self-assessment policy should be The performance evaluation policy of the Comply detailed in the Annual Report. Board of Commissioners of PT Angkasa Pura I (Persero) is published in the Annual Report and the company website.

3. The Board of Commissioners must The rationale and procedures for Comply have a resignation policy in case of removing members of the Board of involvement in financial crimes. Commissioners of PT Angkasa Pura I (Persero) are based on SOE Minister Regulation No. PER-02/MBU/02/2015 concerning Requirements and Procedures for Appointment and Dismissal of Members of the Board of Commissioners and the Supervisory Board of SOEs. Based on these regulations, members of the Board of Commissioners may be dismissed at any time if the concerned are involved in actions detrimental to the SOE and/or the state and/ or are found guilty based on a judicial verdict having permanent legal force.

4. The Board of Commissioners or KNR The Board of Commissioners of PT Comply should formulate a succession policy in Angkasa Pura I (Persero) has prepared the Nomination Process for members of a policy related to nomination and the Board of Directors. remuneration.

Principle 5

To strengthen the 1. Determination of membership of the The determination of the number of Comply Membership and Board of Directors should consider Company Directors is with reference to Composition of the the condition of the company and its applicable legislation which based on Board of Directors. effectiveness in decision-making. Article 2 paragraph (1) and paragraph (2) of OJK Regulation No. 33/POJK.04/2014 concerning Board of Directors and Board of Commissioners of Issuers or Public Companies, consisting of at least 2 (two) members of the Board of Directors, of whom one among them is appointed as President Director.

2. Determination of the composition of PT Angkasa Pura I (Persero) has paid Comply members of the Board of Directors attention to the diversity of expertise, takes into account the diversity of knowledge, and experience of the expertise, knowledge and experiences composition of Board of Directors required. in accordance with the provisions in SOE Minister Regulation No. PER-01/ MBU/2012 concerning Requirements and Procedures for Appointment and Dismissal of Members of the Board of Directors of Indonesian State-owned Enterprises.

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Principle Recommendation Implementation Status

To strengthen the 3. Members of the Board of Directors The director in charge of accounting or Comply Membership and who are in charge of accounting or finance in the Company is the Director Composition of the finance should have expertise and/ or of Finance who has sufficient knowledge Board of Directors. knowledge in accounting. and experience in accounting and finance as can be seen in the curriculum vitae of the director in the Profile of Board of Directors section.

Principle 6

To improve the 1. The Board of Directors must have The Board of Directors has a Self- Comply Implementation an appraisal policy to assess its own Assessment policy listed in the of the Duties and performance. Performance Appraisal section of the Responsibilities of Board of Commissioners and Board of Board of Directors. Directors.

2. The self-assessment policy should be The results of the Board of Directors Comply disclosed in the Annual Report. Self-Assessment are disclosed in the Company Annual Report in the Corporate Governance section.

3. The Board of Directors should have a Based on the Articles of Association Comply policy of resignation when involved in of PT Angkasa Pura I (Persero) jo. OJK financial crimes. Regulation No. 33/POJK.04/2014, every member of the Board of Directors who does not meet the requirements to become a Director as stated in the Articles of Association and OJK Regulation, including those not involved in financial crimes, the concerned person’s position as Director will be null and void.

In the event of resignation of a member of the Board of Directors, a resolution will be made through the GMS.

Principle 7

To Improve 1. To have a policy to prevent Insider The shares of PT Angkasa Pura I (Persero) Comply Corporate Trading. are wholly owned by the Government of Governance the Republic of Indonesia. PT Angkasa Through Pura I (Persero) has not issued shares and Stakeholder so is not a Limited Company, and there is Participation. no potential for insider trading.

2. To have an Anti-Corruption and Anti- In order to implement the principles Comply Fraud Policy. of Good Corporate Governance, PT Angkasa Pura I (Persero) has several anti- corruption and anti-fraud policies such as Code of Conduct, monitoring of State Officials’ assets (LHKPN), anti-corruption program, and Whistleblowing System.

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Principle Recommendation Implementation Status

Principle 7

To Improve 3. Has a Policy on Selection and One of the principles in the Procurement Comply Corporate Enhancing the Capability of Suppliers of Goods/Services at PT Angkasa Pura Governance and Vendors. I (Persero) is transparency, so that all Through provisions and information, including Stakeholder administrative, technical, and price Participation. requirements, procedures for evaluation, as well as procedures for determining the winner of Procurement is open for all interested providers. An example can be seen on the company’s electronic procurement website, https://eproc. angkasapura1.co.id, where all vendors can see auction announcements in the auction info column. In addition, vendors who are qualified and classified in accordance with the work required is registered in the Vendor Management System (VMS), and is automatically to participate in open tenders. As a result, PT Angkasa Pura I (Persero) can obtain the goods/ services needed at competitive prices and good quality.

4. To have a policy to fulfill the rights of In order to fulfill funding requirements, Comply creditors. PT Angkasa Pura I (Persero) has borrowed from banks and the public through the issuance of Bond I and Sukuk Ijarah I in 2016. The obligations arising from these loans have been fulfilled through timely payment of principal and interest on loans.

5. To have a policy on whistleblowing PT Angkasa Pura I (Persero) has a Comply system. Whistleblowing System that serves as a means of preventing and divulging violations or fraud in the Company as outlined in the PT Angkasa Pura I (Persero) Board of Directors Decree No. KEP.192/PG.01/2016 concerning Guidelines for the Whistleblowing System. The Whistleblowing System can be accessed through the website, thus making it easier for employees and stakeholders in reporting suspected violations.

6. To have a policy for providing long-term PT Angkasa Pura I (Persero) has a Comply incentives for Board of Directors and remuneration policy based on the Employees. Regulation of the Minister of State-Owned Enterprises.

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Principle Recommendation Implementation Status

Principle 8

To Enhance 1. To make greater use of information PT Angkasa Pura I (Persero) is active in Comply Information technology in addition to the website as various social media as a platform for Disclosure. a medium for information disclosure. information disclosure and product promotion. In addition, the company uses mailing lists for information disclosure and communications to investors.

2. The Limited Liability Company Annual PT Angkasa Pura I (Persero) currently has Comply Report should disclose the beneficiaries not issued shares, thus the company’s of the Company’s share ownership, of Annual Report does not disclose at least 5% other than the Major and information regarding such shareholders. Controlling Shareholders.

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PT Angkasa Pura I (Persero) as one of the State-Owned Enterprises (SOEs) is involved in empowering and developing the economic, social community and the surrounding environment through the Partnership and Community Development Program (PKBL) and other activities related to fair operations, employment, human rights, and the environment to provide added value to stakeholders.

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Governance of Corporate Social Responsibility

In addition to implementing good corporate The Corporate Social Responsibility (CSR) unit governance (GCG) practices, PT Angkasa Pura manages the company’s social and environmental I (Persero) as a business entity also carries out f responsibility activities, and is responsible to the its social and environmental responsibility. This President Director and the Director of Commercial is carried out in accordance with Law No. 40 of and Business Development. However, all levels of 2007 concerning Limited Liability Companies and the organization are involved in implementing Government Regulation No. 47 of 2012 concerning social responsibility aspects in accordance with Social and Environmental Responsibility. In their respective fields and operational activities. practice, PT Angkasa Pura I (Persero) conducts its social and environmental responsibility strategically with due regard to relevant issues and stakeholders.

Commitment to Social Responsibility

PT Angkasa Pura I (Persero) is commited to its • Decree of the Board of Directors No. KEP.121/ social responsibility as outlined in various policies KP.30/2004 dated 9 December 2004 related to social and environmental aspects, which concerning Official Facilities, Official Travel, include the following: and Health Care for Employees of PT Angkasa • Decree of the Board of Directors of PT Angkasa Pura I (Persero). Pura I (Persero) No. KEP.32/M.01.01/2015 • Decree of the Board of Directors No. KEP.08/ dated 24 March 2015 concerning Guidelines KP.10.43/2018 dated 24 January 2018 for Implementing the Environmental concerning Manual on Occupational Safety Management System at PT Angkasa Pura I and Health Management System of PT (Persero) Airports. Angkasa Pura I (Persero). • Instruction of the Board of Directors No. • Decree of the Board of Directors of PT Angkasa INST.DU.04/HK.01.02/2018 dated 15 January Pura I (Persero) No. KEP.103/KU.13/2017 2018 concerning Measures for Reducing dated 7 August 2017 concerning Guidelines Greenhouse Gas (GHG) Emissions at PT for Implementing the Partnership and Angkasa Pura I (Persero) Airports. Community Development Program of PT • Instruction of the Board of Directors No. Angkasa Pura I (Persero). INST.DU.18/HK.01.02/2018 dated 10 April 2018 • Decree of the Board of Directors of PT Angkasa concerning Management of Waste and Pura I (Persero) No. KEP.239/KU.12/2017 dated Chemical Substances/Hazardous and Toxic 20 December 2017 concerning Amendment to Waste (B3) at PT Angkasa Pura I (Persero) Decree of the Board of Directors of PT Angkasa Airports. Pura I (Persero) No. KEP.103/KU.12/2017 • Decree of the Board of Directors of PT Angkasa concerning Guidelines for PT Angkasa Pura Pura I (Persero) No. KEP.238/KU.13/2018 dated I (Persero) Partnership and Community 20 December 2018 concerning Guidelines for Development Program. Corporate Social Responsibility (CSR) within PT Angkasa Pura I (Persero).

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Methods and Scope of Due Diligence on Social, Economic, and Environmental Impacts of Company Activities

The corporate social and environmental business operations. During the research process, responsibility activities are performed to deliver the company adopts a participatory approach in positive impacts and reduce the adverse effects which all stakeholders are involved in the hearing of the Company’s activities to stakeholders. In stage through a focus group discussion. In this addition, such activities are oriented towards process, problems are identified and solutions are economic, social and environmental aspects delivered through the program. which also support the Company’s business sustainability. PT Angkasa Pura I (Persero) seeks to In this initial research process, the company also assess the impact of its social and environmental reviews the prevailing regulations and social norms responsibility through the following activities: to be the basis and main guide in developing • Employee engagement survey; corporate social responsibility programs. These • Customer satisfaction survey; and regulations cover airport operations, environmental • Focus group discussion (FGD) management, land rights, labor rights, gender equality, as well as local cultural norms. Formulation of the Corporate Social Responsibility Program begins with a research conducted by the CSR Unit so that the resulting program is relevant and well targeted, and includes all stakeholders related to airport management

Stakeholders Affected or Impacted by the Company’s Activities

In performing its corporate social and has dependency upon individual or an environmental responsibility, PT Angkasa Pura I organization, or vice versa. (Persero) seeks to build harmonious relationships 2. Responsibility with stakeholders. For this reason, stakeholders are the stakeholders are identified if the Company engaged in business decision-making processes has responsibility of legal, commercial, or in accordance with their respective interests ethics towards individual or an organization. and competencies. Stakeholder engagement is 3. Tension carried out in accordance with the outcomes of the stakeholders are identified if individual or stakeholder mapping and important topics of an organization needs the Company attention concern to each stakeholder. relating to particular economic, social, or environment issue. PT Angkasa Pura I (Persero) has identified its 4. Influence stakeholders based on AA1000 Stakeholder the stakeholders are identified if individual or Engagement Standard version 2015 as follows: an organization has influence to the Company 1. Dependency or strategy or other stakeholders policy. the stakeholders are identified if the Company

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5. Diverse Perspective 6. Proximity the stakeholders are identified if individual the stakeholders are identified if individual or an organization has different perspective or an organization has a geographical and which may influence situation and encourage operational proximity to the Company. an unexistent action before to happen.

Based on the above approach, PT Angkasa Pura I (Persero) has mapped its interests and stakeholders as follows.

Customer

Identification Basis Involvement Method Frequency Emerged Topic/ Issue Dependency, • Website and frontline • As needed, available • Information on various Responsibility, Tension, information every day products and services Influence, Proximity • Direct visit • As needed, can be • Complaint service and carried out at any time solution with planning • Satisfaction over • Call center service • Once a year services received • Customer satisfaction • Once a year survey

Shareholders / Government

Identification Basis Involvement Method Frequency Emerged Topic/ Issue Dependency, Performance report Every quarter • Financial performance Responsibility, GMS • AGM on Company Work • Non-financial Influence, Proximity Plan & Budget performance • AGM on Fiscal Year • Year-round Performance Evaluation performance on and Determining governance, financial, Financial Performance non-financial • Extraordinary AGM performance and others

Regulator

Identification Basis Involvement Method Frequency Emerged Topic/ Issue Dependency, • Hearing As needed, at least once a • Arrangement of Responsibility, Tension, • Coordination meeting year business permit and Influence, Diverse regulation Perspective, Proximity • Coordination relating to airport governance, etc.

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F inancial Services Authority (OJK)

Identification Basis Involvement Method Frequency Emerged Topic/ Issue Dependency, Compliance reporting and Any time, at least once a Information about Responsibility, Tension, notification to Financial year through Annual Report compliance with applicable Influence, Diverse Service Authority (OJK) laws and regulations. Perspective, Proximity

Creditor

Identification Basis Involvement Method Emerged Topic/ Issue Dependency, • Letter of Credit • Dissemination of policies and strategies relating to Responsibility, Tension, • Credit Agreement employment. Influence, Diverse • Equality of employment opportunity and career path Perspective, Proximity Frequency • Career development, training, etc. As needed, at least once a • Health and safety insurance year through Annual Report

Partner

Identification Basis Involvement Method Emerged Topic/ Issue Depedency, Employment contract • Objective procurement process Responsibility, Tension, • Mutually beneficial, transparent and fair cooperation Proximity Frequency • Working scope explanation As needed, at least once a • Provision on working fee billing year

Community

Identification Basis Involvement Method Frequency Dependency, • Strategic cooperation As needed, can be carried out at any time, at least once a Responsibility, Tension, to perform CSR year Influence, Diverse programs, both in the Perspective, Proximity economic, social and Emerged Topic/ Issue environmental spheres • Dissemination and implementation of PKBL/CSR • Meeting with program community • Optimizing the achievement of PKBL/ CSR program organization, social • Information on company activities organization, local community, and on campus

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Media

Identification Basis Metode Pelibatan Emerged Topic/ Issue Tension, Influence, • Press release • Non-financial performance Diverse Perspective • Press conference • Performance and impact of social and environmental • Media gathering activities • Visit to media office • Information on company activities • Latest information on businesses and products that need to be known by the public Frequency As needed, can be carried out at any time, at least once a year

Ima port nt Social, Economic, and Environmental Issues related to the Impact of Company Activities

PT Angkasa Pura I (Persero) conducts materiality various divisions, customers, suppliers/partners, tests on social, economic and environmental mass media, and others. In 2019, the surveys and aspects that are of particular concern to internal FGD conducted on 23 October 23 2019 revealed and external stakeholders. These tests are carried various material topics that were of concern to out annually through surveys and FGDs attended stakeholders, namely: by, among others, Company employees from the

E conomic Performance Environmental Social Performance 1. Economic Performance Performance 1. Employment 2. Market Existence 1. Energy 2. Working environment 3. Governance 2. Water 3. Local communities 4. Operational Performance 3. Emission 4. Customer Health and Safety 4. Waste 5. Marketing and Labeling 5. Sound quality 6. Social Economic Compliance

The results of identified material topics were involve stakeholders in formulating social and used as the basis for determining the Company environmental responsibility activities that were strategy and work program in dealing with appropriate to their needs and were in accordance social, economic and environmental issues in the with the Company’s business sustainability. future. In addition, this endeavor also represents PT Angkasa Pura I (Persero)’s commitment to

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Social and Environmental Performance as Obligations and Exceeding Obligations

PT Angkasa Pura I (Persero) has complied with also exceeding obligations that are relevant to the legal obligations by carrying out social and company’s business. environmental responsibility in accordance with national regulations and international norms The social and environmental programs conducted of behavior. However, the company’s social and by PT Angkasa Pura I (Persero) throughout 2019 environmental responsibility programs are not are presented as follows: limited to fulfilling regulatory obligations, but

Social and Environmental Programs Conducted by PT Angkasa Pura I (Persero) in 2019

Obligatory Social and Environmental Responsibility Activities

Subject Activity/ Program Regulatory Basis

Environment • Obtaining an Environmental Permit from • Law No. 32 of 2009 concerning EIA study on the construction of New Environmental Protection and Airport and Airport Development Management • Monitoring and Reporting of Airport and • Government Regulation Number 27 of 2012 Head Office Environment concerning Environmental Permits; • Decree of the Minister of Environmental Affairs No. 45 of 2005 concerning Guidelines for Formulation of Reports on the Realization of Environmental Management Plan (RKL) and Environmental Monitoring Plan (RPL).

Occupational • Implementation of Occupational Safety • Law No. 1 of 1970 concerning Work Safety Safety and Health Management System (SMK3) • Government Regulation No 50 of 166 Criteria in 13 PT Angkasa Pura I 2012 concerning the Implementation (Persero) airport branches of Occupational Safety and Health • Implementation of supervision and Management Systems measurement of work safety performance in all airports of PT Angkasa Pura I (Persero) • K3 guidance through safety briefing, socialization and K3 training programs.

Airport Safety • Implementation of Safety Management • Law Number 1 of 2009 concerning Aviation System in all airports of PT Angkasa Pura I • Regulation of the Minister of (Persero) Transportation of the Republic of Indonesia • Establishment of Safety Targets and Safety Number PM 62 of 2017 concerning Performance Indicators in all airports of PT Civil Aviation Safety Regulations Part 19 Angkasa Pura I (Persero) concerning Safety Management System • Implementation of supervision and measurement of airport safety performance in all airports of PT Angkasa Pura I (Persero)

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Social and Environmental Responsibility Activities Exceeding Obligations

Issues Activities/Program

Environment Nature Conservation A habitat study has been carried out as a form of PT Angkasa Pura I (Persero) responsibility for the environment. The results were used to mitigate the impact of flight operations by collaborating and socializing with relevant local governments to provide habitats outside the airport area, especially for endemic or protected plants and animals. One example was by utilizing the nearest urban forest and empowering communities and NGOs in Banjarmasin and Surabaya.

Health Mobile Health Services Mobile health service is a program of PT Angkasa Pura I (Persero) to improve the health of pregnant and lactating women, also children, including infants and toddlers. This program was carried out at the branch office and included health counselling activities, free medication, and supplementary feeding.

Education Airport Education Scholarship Program PT Angkasa Pura I (Persero) provided full scholarships to 30 selected students to undergo Diploma III education with a concentration in airport education. The participants were high school and vocational high school students who were recommended by their respective schools through the local Education Department.

Fair Operating Practices

Commitment and Policy

PT Angkasa Pura I (Persero) has a Code of Furthermore, in practice, the Corporate Code of Conduct that forms the basis for the Company’s Conduct regulates the following behaviors: commitments and policies in carrying out business a. In relationship among the Company and activities ethically and under fair operating employees, external workers, and industries, practices. The Code includes aspects, such as PT Angkasa Pura I (Persero) strives to always anti-corruption, fair competition, compliance with maintain the dedication and loyalty of human laws and regulations, and rules on involvement in resources as an important asset. The Company political activities. continuously supports the development of quality human resources to ensure the availability of competencies, skills, and excellence in accordance with the Company’s vision, mission and long-term programs. b. In relationship between the Company and service users, PT Angkasa Pura I (Persero) applies the principle of open competition, integrity, transparency, fairness and accountability to create mutually beneficial relationships. c. In relationship beteen the Company and the Government, PT Angkasa Pura I (Persero) always complies with applicable laws and regulations. d. In relationship between the Company and business partners, PT Angkasa Pura I (Persero) continually respects the rights of business and strategic partners, in addition to demanding the fulfillment of their obligations.

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Scope and Implementation of Fair Operating Practices

The scope and implementation of fair operating 4. Avoidance of unlawful behavior, especially practices within PT Angkasa Pura I (Persero) cover political influence (responsible political the following aspects: involvement). 1. support towards anti-corruption measures In conducting its business, PT Angkasa Pura through: I (Persero) complies with existing rules and a. Establishment of gratification and anti- regulations so as to avoid violating the law. corruption policies; A form of this commitment is in accordance b. Dissemination and implementation of with the guidance of Circular Letter of the good corporate governance, code of Ministry of State-Owned Enterprise No. SE-07/ conduct, gratification and anti-corruption MBU/20/2015 concerning Provisions on the policies; Nomination of SOE Officials and Employees c. Gratification reporting mechanism as Regional Head Candidates and Prohibition channel and submission of Report of State of Using SOE Resources in Practical Political Official Assets (LHKPN); Activities in Election of Regional Head d. Active role in activities that promote an (Pilkada). In addition, this commitment is also anti-corruption culture. specified in the code of conduct related to political activities. 2. fair Competition. PT Angkasa Pura I (Persero) is committed to In adherence to applicable laws and adopting clean business practices and prevent regulations, the Company’s policy regulates fraud by making fair business competition as the following matters: its culture and business ethic that must be a. PT Angkasa Pura I (Persero) will not allow developed and implemented in maintaining a anyone to force another person in a way conducive business environment, as regulated that can limit the individual’s right to in Law No. 5 of 1999 concerning Prohibition of channel his political aspirations. Monopolistic Practices and Unfair Business b. PT Angkasa Pura I (Persero) will not Competition. provide funds, assets, or facilities for use by political parties or one or more legislative 3. respect for Intellectual Property Rights. candidates unless provided to be justified PT Angkasa Pura I (Persero) is also committed by law and carried out in accordance with to respecting the outcomes of either of applicable laws and regulations. creative thoughts and ideas that are registered c. PT Angkasa Pura I (Persero) is prohibited as intellectual property rights (IPR), such as to discriminate between employees. patents, copyrights, and others, either those d. PT Angkasa Pura I (Persero) employees owned by the employees or stakeholders. are prohibited from carrying, displaying, installing, and distributing political party In addition, the Company also encourages symbols, images and ornaments within other parties to actively participate in the Company. protecting the company’s intellectual property e. PT Angkasa Pura I (Persero) personnels rights. Every person who works at PT Angkasa who are active in political parties and/or Pura I (Persero) must maintain confidentiality are legislative candidates from political of information related to process and products parties in elections must resign from the of the company, either while working at the company. company or after leaving the organization. PT Angkasa Pura I (Persero) provides incentives to individuals who contribute to inventions that bring economic benefits for the Company.

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Activity Plan

PT Angkasa Pura I (Persero) always maintains policy, management also wishes to hear on the harmonious working relationships with internal aspirations of employees, either at the Head Office and external stakeholders to receive support or branch offices through video conference. In in promoting the implementation of equitable addition, other communication channels can be operational management activities. The used to maintain trust and mutual respect Company’s fair operating activities focus on work and business activities that create harmonious, To maintain harmonious working relationship respectful, responsible and mutually trusting work with partners, the company has a series of tools, relationships between Company personnels and such as airline gathering for airline partners, stakeholders to support the achievement to its tenant gathering for tenant partners at airports objectives. managed by the Company, and coffee morning with all partners at the airports to have a common This focus is realized through various activities understanding on the current developments, with that facilitate communication with various the objective of addressing potential problems so stakeholders, both internal and external to the that they can be handled fairly. company. Internally, as a form of a two-way communication forum between management and employees, CEO Talks event was conducted in addition to conveying the company’s strategic

Impact of Implementation of Fair Operating Practices

The implementation of fair operating practices in the development of positive values or culture the Company can create a conducive atmosphere that can improve the reputation and image of PT and improve the work ethic within the Company. Angkasa Pura I (Persero). In addition, fair operating practices can encourage improvements in business management through

Achievements and Awards

In 2019, PT Angkasa Pura I (Persero)’s endeavor to conduct fair operating practices was awarded the “Best SOE Governance” award at the SOE Awards 2019 event organised by BUMN Track Magazine.

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Upholding Human Rights

Commitment and Policy

PT Angkasa Pura I (Persero) is a business entity (CLA) document that has been mutually agreed that respects the principles of upholding human between the Labor Union and PT Angkasa Pura I rights in Indonesia in accordance with applicable (Persero). laws and regulations. The implementation of corporate social responsibility activities related to Another form of commitment to uphold human Human Rights (HAM) has consistently adhered to rights was in relocating residents affected by the applicable provisions. In this regard, the company construction of Yogyakarta International Airport is committed to follow the standard on social (YIA). By paying attention to the human rights responsibility, namely ISO 26000. aspect, the Company relocated the community in an appropriate manner such that no significant One significant effort to uphold human rights disturbance was noted from the resettled at PT Angkasa Pura I (Persero) is related to basic residents. rights in the work environment. This commitment is reflected in the Collective Labor Agreement

Activity Plan

The Company takes into account the impact of The Company’s social and environmental the organization’s operational activities on human responsibilities activities in human rights aspect rights (due diligence). Protection of human rights in 2019 involved training for residents affected by is an inseparable part of the company’s business airport construction, namely English language and operations both in its interaction with training, security training, and entrepreneurship stakeholders and employees within the Company training at Yogyakarta International Airport and area, and interaction with the community in mechanical training around Jenderal Ahmad Yani the Company’s working areas. Stakeholder Airport in Semarang. involvement in preparing activity plans on human right is important to ensure that the activities are on target and have a positive impact on stakeholders and the Company.

Formulation on Human Rights

One effort to formulate human right aspects is obligations, labor union facilities, working hours, by holding a dialogue between the Company work environment, remuneration and other social and employees. Through the Collective Labor benefits, equality and non-discrimination, and Agreement and based on good industrial relations, resolution of bipartite and tripartite complaints. PT Angkasa Pura I (Persero) has identified various human rights aspects, particularly those related to PT Angkasa Pura I (Persero) does not discriminate basic rights at work. These include guaranteeing in the recruitment process by determining employment relations, workers’ rights and specific criteria that differentiate between

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different ethnicities, races, religions and physical Employees of different ethnic groups, races, conditions. All prospective employees have the religions, gender and physical condition are part of same opportunity for employment. the Company’s strengths and are the foundation for its commitment to fairness, anti-discrimination and upholding the rights of individuals on a sustainable basis.

Scope and Implementation

In implementing corporate social responsibility, 2. working Hours, Overtime Pay and Leave PT Angkasa Pura I (Persero) always prioritizes PT Angkasa Pura I (Persero) respects the approach, interaction, communication and following provisions on working hours and community involvement that is performed without overtime pay as stipulated in the company’s intimidation, full of respect and understanding of regulations: the local culture and community rights based on o Working day of PT Angkasa Pura I (Persero) the principle of mutual benefit. is 5 (five) days a week. o Working hours of PT Angkasa Pura I The Company also highly respects the civil and (Persero) are: political rights of each individual and community - Monday to Thursday: 08:00 to 16:30 group that receives benefits from the social local time responsibility programs in the company’s area of - Friday: 08:00 to 15:30 local time operations. - Break times are set internally in each work unit. 1. freedom of Association o In general, variations in the number of PT Angkasa Pura I fully guarantees the right working days and working hours can be of association in accordance with applicable made possible, especially for employees laws and regulations. This is reflected in the working on operational activities in the existence 2 labor union organizations, namely field and are set as shift work hours. Serikat Pekerja Angkasa Pura I (SP/Angkasa o The number of shift work hours for Pura I Labor Union) and Asosiasi Karyawan employees must not exceed 40 (forty) Angkasa Pura I (AKA/Employee Association hours a week, the remaining hours shall of Angkasa Pura I) to represent employees in be deemed overtime hours. carrying out coordination, consultation and o Employees who work overtime are negotiations with the Company related to entitled to payment for excess work hours. work relations. On the other hand, the Labor Union must comply with the provisions of the In addition to the Company’s appreciation for employment relationship and support the working hours and overtime pay, employees Company’s work programs in accordance with have the right to paid leave in accordance GCG principles and the Code of Conduct. with the applicable employee agreement. The provisions on employee leave are as follows: PT Angkasa Pura I (Persero) provides support o Employees who have worked for at least to the Labor Union in the form of non-binding 1 (one) year continuously are entitled to assistance and a secretariat room along with annual leave for 12 (twelve) working days. other amenities and facilities. The Labor Union o Employees who have worked for at least 6 may also submit requests for assistance to the (six) years or its multiples continuously are Company management to support its annual entitled to an extended leave of 3 (three) work programs. calendar months with the approval of their superiors.

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o Employees who are sick for more than 3. relocation of Affected Community 2 (two) working days up to 14 (fourteen) During 2019, PT Angkasa Pura I (Persero) working days are entitled to sick leave, conducted construction and expansion at provided that the employee must notify two airports, namely Yogyakarta International the superior directly by attaching a Airport and Syamsudin Noor Airport doctor’s certificate. Banjarmasin. This construction affected o Female employees are entitled to the community around the area. Thus, the maternity leave for 3 (three) calendar Company relocated and compensated months, whose realization is left to the the affected community. The resettlement concerned person by attaching a doctor’s process from the construction project site certificate. of Yogyakarta International Airport has o Female employees who experience a been carried out since 2018. The affected miscarriage are entitled to rest leave for 45 communities are located in the Yogyakarta (forty five) calendar days by submitting a International Airport construction project area doctor’s certificate stating the concerned in Temon Subdistrict, Kulon Progo, Yogyakarta employee has suffered a miscarriage. and the Banjarmasin Syamsudin Noor Airport o Leave for important reasons, including: Development Project in Syamsudin Noor - Marriage. Urban Village and Guntung Payung Urban - Wife/husband, child/son-in-law, or Village, Banjarmasin. parents/in-laws are critically ill or hospitalized. - Wife/husband, child/son-in-law, or parents/in-laws or siblings have passed away. - Wife of employee has given birth. - Experienced accident/ natural disaster. - Religious worship trips.

Impact of Activity

Implementation of the Company’s CSR on human In accordance with the laws and regulations of rights in 2019 had positive impacts on several the Republic of Indonesia, PT Angkasa Pura I aspects. One of them is the success of PT Angkasa (Persero) compensated the community for the Pura I (Persero) in reducing employee turnover by acquisition of land used for airport construction. 2.79%, lower than in 2018 of 5.29%. . The relocation at Yogyakarta International Airport involves the Regional Leaders Communication In general, respect for human rights had a positive Forum (FORKOMPIMDA) which includes the Kulon impact on PT Angkasa Pura I (Persero) and Progo Regional Government, TNI, Police, and other stakeholders in aspects of the potential risks that parties. Meanwhile, the relocation of residents could have arisen from human rights violations. from the the Syamsudin Noor Airport construction These risks included human rights incidents that project site to a nearby village involves regional have resulted in a deterioration in the Company’s agencies namely the provincial government and image, a decline in stakeholder confidence, a court the municipal government. sentence, and poor business continuity.

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From the construction of Yogyakarta International was Rp4.1 trillion. Meanwhile, from the construction Airport, 2,700 families have been relocated and of Syamsudin Noor Airport in Banjarmasin around received soft skills and financial education training. 832 families have been relocated. The total cost of relocation and training during 2019

Environment

Commitment and Policy

PT Angkasa Pura I (Persero) has always paid stipulated in the Decree of the Board of Directors special attention to environmental aspects and No. KEP.32/OM.01.01/2015 dated 24 March 2015 has made it as the main pillars in the Company’s concerning Guidelines for Implementation of the CSR activities. The practices of corporate social Airport Environmental Management System at PT and environmental responsibility, especially in the Angkasa Pura I (Persero). This commitment is also environmental sector is regulated in the Decree reflected in other policies, namely the Instruction of the Board of Directors No. KEP.103/KU.13/2017 of the Board of Directors No. INST.DU.04/ dated 7 August 2017 concerning Guidelines for HK.01.02/2018 dated 15 January 2018 concerning Implementing the Partnership and Community Measures in Reducing Greenhouse Gas (GHG) Development Program of PT Angkasa Pura I Emissions at PT Angkasa Pura I Airport (Persero) (Persero). The company is committed to playing an and No. INST.DU.18/HK.01.02/2018 dated 10 April active role in efforts to develop green spaces and 2018 concerning Management of Hazardous, Toxic construct environmentally friendly airports. and Chemical Waste (B3) at PT Angkasa Pura I Airport (Persero). The company is committed to In addition to CSR programs on environment, adhering to all laws and regulations related to the PT Angkasa Pura I (Persero) always considers environment. environmental aspects in airport management, as

Environmental Impacts and Risks related to Company Business

Several environmental issues are relevant to direct or PT Angkasa Pura I (Persero) is aware that these indirect impacts of airport operations as part of the issues, if not handled properly, can trigger potential business of PT Angkasa Pura I (Persero). A common risks in relation to the community, especially those impact on the environment is noise pollution from living around airports. For this reason, PT Angkasa airport activities. In addition, the risk of air pollution Pura I (Persero) has a policy related to environmental is the most difficult impact to avoid due to the management that regulates mitigation, development and operation of airport. Moreover, management and monitoring of environmental airport development and operations require impacts starting from making AMDAL documents, extensive land and have the potential to generate managing environmental permits, asking for environmental, economic and development risks for opinions on community responses regarding the surrounding community. airport development and regularly monitoring and managing existing environmental impacts with appropriate environmental programs.

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Activity Plan

PT Angkasa Pura I (Persero) is committed to The Company’s social and environmental making the environment around airports to be responsibility programs in the environmental more environmentally friendly by implementing sector are not only carried out in the internal several energy efficiency programs in airport area of the Company, but also through nature operational activities. The Company has preservation around business areas and other introduced the concept of an eco-friendly airport buffer zones. In 2019, external activities on the through the new terminal of Jenderal Ahmad environment were focused on mangrove trees Yani Airport, Semarang. This was followed by full plantation and coral reefs transplantation in Bali implementation of ISO 14001:2015 standard relating and Lombok. The programs were planned and to the environment at I Gusti Ngurah Rai Airport- implemented based on the results of discussions, Bali and Sultan Hassanudin Airport-Makassar. consideration of suggestions, and the needs of In addition, the Company has incorporated relevant stakeholders. environmental strategies into CSR programs such as tree planting, coral transplantation, community training, and others.

Implementation of Activities

The realization of PT Angkasa Pura I (Persero)’s policy on nature conservation and management efforts in 2019 is as follows:

Target and Achievement of the Environmental Work Program in 2019

Strategic Objectives Realization

In 2019 several trainings were conducted for employees of PT Angkasa Pura I (Persero) including the Airport Carbon Management Plan from the Airport Council Indonesia, Greenship Professional, Fundamentals of Environmental Impact Analysis, Technical Guidance on Environmental Reporting System (ERS), Technical Guidance on B3 Waste Management, etc.

Increased Worker Competence in the Airport Environment Sector

PT Angkasa Pura I (Persero) annually submit sustainability report and has environmental policies that regulate environmental management namely pollution prevention, energy efficiency, GHG reduction, biodiversity and ecosystem protection, adaptation to climate change and planning, development and operations that refer to sustainable development principles, such as the use of local products, reducing the use of single use plastics, and meeting the requirements of green open spaces. In Nature Conservation and planning, PT Angkasa Pura I (Persero) also conducted a disaster and climatology study Promotion of Sustainable in collaboration with BMKG for the development of a sustainable airport. Business Practices

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Target and Achievement of the Environmental Work Program in 2019

Strategic Objectives Realization

Airport construction and development are required to have an Environmental Permit through the OSS system as one of legal complianc. For the development of airports, I Gusti Ngurah Rai Airport in Bali, Lombok International Airport, Adi Soemarmo Airport, Sultan Hassanudin Airport in Makassar and Juanda Airport in Surabaya possessed an Environmental Permit and Environmental Impact Analysis (AMDAL) documents, while SAMS Sepinggan Airport and Sam Ratulangi Airport obtained Decree on Obtaining an Environmental Environmental Feasibility (SKKLH) and Definitive Environmental Permit in 2019. Permit from the EIA study on New Airport Construction and Airport Development

In accordance with the regulations in the environmental permit and Eco Airport Certificate from the Ministry of Environment and Forestry (KLHK) and the Directorate General of Civil Aviation of the Ministry of Transportation, the company must report its environmental management performance periodically to the relevant agencies, PT. Angkasapura I already has an online reporting systems namely the Environmental Reporting System, ACERT (ACI’s Airport Carbon and Emissions Reporting Tool) and has Monitoring and Reporting on been registered in SIMPEL system and Electronic Manifest (Festronik) of the Ministry Environment at Airports and of Environment and Forestry (KLHK) for reporting RKL-RPL monitoring and preventive Head Office monitoring for illegal wildlife trafficking.

Perap , Energy and Water Saving Program Further, the company also endeavors to save water As a form of commitment of PT Angkasa Pura in its operations. In this regard, water is sourced I (Persero) in preserving the environment, the from the Regional Water Supply Company Company has implemented a policy to reduce (PDAM) and not through pumping of ground paper use and to begin using communication water. Efficient use of water is also realized by technologies that allow paperless processes. checking water installations on a regular basis to Starting in 2019, the Company also implemented prevent leakage, and to always urge employees to an electronic documentation service system. conserve water usage. Other efforts to conserve water include the following: In addition, PT Angkasa Pura I (Persero) made • From September 2019, using water from the efforts to save energy through: Sewage Treatment Plan (STP) at I Gusti Ngurah • Use of the Supervisory Control And Data Rai Airport-Bali to reduce underground water Acquisition (SCADA) system to monitor use. electricity usage periodically at Jenderal • Enhancing the use of reversed water osmosis Ahmad Yani Airport in Semarang technology at Jenderal Ahmad Yani Airport- • Use of LED lights at airports Semarang by recycling brackish water and • Use of escalators with sensors to save electricity rainwater • Reducing the duration of Standing AC and • Using water taps with automatic sensors. centralized air conditioner (AC) in terminal buildings • Use of solar cells for street lighting at Syamsudin Noor Airport- Banjarmasinand El Tari Airport- Kupang • Use of Building Automation System at the Airports

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Nature Conservation Program Community and WWF-Indonesia simultaneously PT Angkasa Pura I (Persero) is committed to at 13 airports. PT Angkasa Pura I (Persero) together making green areas around airports and to develop with WWF Indonesia also collaborated in other environmentally-friendly airports. In addition, the programs such as conservation and education, Company supports the Government program environmental preservation, and tourism on nature conservation in the surrounding development in accordance with the principles of operational areas and other buffer zones, as well sustainable management. as playing an active role as coordinator of the ‘SOE Care for Regreening’ initiative for the East Internally, natural conservation also included Nusa Tenggara Province. Throughout 2019, the activities such as prevention of environmental Company has carried out nature conservation pollution, Green Building, Green Procurement, activity in the form of “Switch Off Earth Hour Green Processes, and Reduce, Reuse, Recycle (3R) 2019” global campaign initiated by the Earth Hour programs that support the goals of Eco Airport.

Impact of Activity

Impact of Paper, Energy and Water Saving Program The CSR activities on the environment conducted in 2019 delivered positive outcomes on the economic side through savings in paper, electricity and water costs. The impacts of paper, electricity and water savings are presented in more detail as followst.

Paper, Energy and Water Savings

Description 2019 2018

Ratio of Electricity and Water Costs to Total Revenue 1 : 1.14 1 : 0.98

Ratio of Stationery Costs to Total Assets 1 : 0.04 1 : 0.04

Ratio of Electricity and Water Costs to Total Assets 1 : 0.033 1 : 0.27

PT Angkasa Pura I (Persero) ‘s use of electricity, fuel and water in the last three years

Description Satuan 2019 2018 2017

Electricity kWh 243.636.176,80 244.478.698,59 230.355.873,56

Fuel Oil Litre 1.157.798,90 1.340.666,79 1.256.713,82

Water m3 4.874.880,00 4.915.970,70 4.643.849,00

Impact of the Nature Conservation Program Implementation of the anti-pollution, Green Building, Green Procurement, Green Processes, and Reduce, Reuse, Recycle (3R) activities are expected to help reduce global warming and to be an inspiration for other parties to be concerned for and help restore the environment. PT Angkasa Pura I (Persero) will continue to carry out nature conservation activities to make all managed airports to be environmentally friendly (Eco Airport).

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Environmental Certification

PT Angkasa Pura I (Persero) consistently maintains business operations. Environmental Certification its environmental performance to meet the obtained by PT Angkasa Pura I (Persero) include expectations of stakeholders in handling the following: environmental issues related to the Company’s

Certification Description Airport Locations

Airport Council Airport Carbon Accreditation is a certification awarded The proposed airports are: International by Airport Council International to airports that have •I Gusti Ngurah Rai Airport – calculated and made efforts to reduce emission and Denpasar, Bali carbon raye generated by airport operations. Currently • Jenderal Ahmad Yani is still in the certification preparation program. Airport – Semarang • Adi Soemarmo Airport - Solo

Green Building PT Angkasa Pura I (Persero) airport building is Airports in the certification Certification expected to be a green performance building. This process: green performance follows the benchmark of a green • Jenderal Ahmad Yani building called Greenship. Such activity includes various Airport – Semarang duties such as planning, construction, operation and • Yogyakarta International maintenance, procurement, as well as other necessary Airport – , Kulon Progo, DIY activities.

The success in following this benchmark is legalized in Greenship certificate, issued by Green Building Council Indonesia (GBCI). In case the building has earned such certification, the owner is legitimate to call it Green Building.

PT Angkasa Pura I (Persero) has implemented the principles of green building in its development project, starting from the planning, design, development, and operational stages in the future. Current progress is awaiting verification before the issuance of certification from GBCI.

Development and ISO 14001 is part of the overall management system Airports that are still in the Certification of ISO which consists of organizational structure, planning process of being set up and 14001:2015 activities, responsibilities, practices, procedures, awaiting certification: processes and resources for the development, • Sultan Hasanuddin Airport implementation, achievement, assessment and – Makassar. maintenance of environmental policies. It is expected •I Gusti Ngurah Rai Airport – that PT Angkasa Pura I (Persero) Airport is able to Bali. meet the criteria of Eco Airport through Integrated Management System.

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Employment

Commitment and Policy

PT Angkasa Pura I (Persero) is committed to In relation to occupational health, the Company’s carrying out corporate social and environmental commitment is reflected in Decree of the Board responsibility on employment, which covers of Directors No. KEP.121/KP.30/2004 dated 9 various aspects: December 2004 concerning Facilities for Officials, • gender equality and work opportunities Official Travel, and Healthcare for Employees of PT • equality in education and training programs Angkasa Pura I (Persero). This policy guarantees • occupational health and safety adequate healthcare provision for the employees. • industrial relations In addition to health insurance, the the Company’s • remuneration commitment to occupational health and safety • pension program is also stated in Decree of the Board of Directors No. KEP.08/KP.10.43/2018 dated 24 January 2018 concerning Manual on Occupational Health and Safety Management System (SMK3) of PT Angkasa Pura I (Persero).

Formulation of Corporate Social and Environmental Responsibility on Employment

The scope and formulation of the Company’s social During 2019, the issues identified by PT Angkasa and environmental responsibility on employment Pura I (Persero) are: are closely related to the characteristics of airport 1. There is a plan to establish an SOE Super operations. Issues that are significant and of Holding in the field of aviation by the Ministry concern to PT Angkasa Pura I (Persero) include of SOEs so that it has the potential to influence gender equality and work opportunities, equality employee status and employee welfare. in education and training programs, industrial 2. The need for e-learning to improve employee relations, remuneration, and pension program. competence in facing the digital era and to increase the effectiveness and efficiency of The formulation of programs on employment is employee training time. carried out by involving relevant stakeholders, through discussions, surveys or other forums. The stakeholder involvement aims to formulate initiatives or programs or discuss issues of concern to stakeholders, so that the Company can make effective and efficient decisions.

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Activity Plan for Social Responsibility on Employment

The activity plan for corporate social and Furthermore, PT Angkasa Pura I (Persero) has a environmental responsibility on employment policy related to occupational health and safety as is listed in the Company Work Plan and Budget, stipulated in the Decree of the Board of Directors particularly in the Work Program of the Human Number: KEP.08 / KP.10.43 / 2018 dated 24 January Capital Group and Training and Development 2018 concerning the Occupational Health and Group. These activities include recruitment Safety Management System Manual (SMK3) of PT process, competency development, determination Angkasa Pura I (Persero) of remuneration, and employee retirement. All planned activities on employment are prepared in PT Angkasa Pura I (Persero) involves its accordance with applicable rules and regulations, stakeholder groups in carrying out corporate the implementation of which is based on respect social responsibility on employment, namely labor for employee rights, anti-discrimination, and union organizations. The Company guarantees women’s participation. freedom of association to represent the interests of employees in employment affairs, including PT Angkasa Pura I (Persero) provides health care negotiations on Collective Labor Agreement (CLA) insurance for employees which includes outpatient with company’s management. The Company care, inpatient care, and special services. The regularly holds meetings with labor unions provision of health facilities is stipulated in the to discuss employee rights and obligations or Decree of the Board of Directors Number: KEP121 / appropriate disciplinary sanctions in case of KP.30 / 2004 dated 9 December 2004, concerning disciplinary violations by employees. Facilities of Officials, Official Travel and Health Care for Employees of PT Angkasa Pura I (Persero) In 2019, PT Angkasa Pura I (Persero) allocated funds of Rp 49.98 billion for education and training programs aimed at increasing employee competencies at various levels of position.

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Description of the Implementation of Social Responsibllity Activities on Employment

The efforts of PT Angkasa Pura I (Persero) to be hearing aids, eye prostheses, and BPJS Health socially responsible in the field of employment facilities for all employees. The Company also involve various stakeholders, including Labor adheres to Occupational Health and Safety Union. The role of the Board of Directors and (OHS) standards for employees as a preventative Management of PT Angkasa Pura I (Persero) approach, which includes guidance, application related to employment is to review of the initiatives and maintenance of OHS so that employees avoid and reports compiled by the Company. work accidents and occupational diseases.

Occupational Health and Safety In 2019, PT Angkasa Pura I (Persero) did not In relation to employee health, in 2019 PT Angkasa experience work accidents or fatalities. Pura I (Persero) provided health services such as reading aids, medical treatment, dental care,

Work Accidents of PT Angkasa Pura I During 2017 – 2019

Description 2019 2018 2017

Number of Fatalities 0 0 0

Number of Serious Accidents 0 0 0

Number of Minor Accidents 0 0 0

Total Accidents 0 0 0

Gender Equality and Work Opportunities At the end of 2019, PT Angkasa Pura I (Persero) had PT Angkasa Pura I (Persero) provides equal a composition of male employees at 59%, while opportunities for all persons regardless of ethnicity, female employees at 41%.This significant difference religion, race, class, gender, or physical condition was due to greater interest in men to work in the to take part in recruitment program. Prospective airport industry as compared to women. employees are selected and appointed fairly based on the results of selection and evaluation during Equality in Education and Training the probationary period and work orientation. Programs PT Angkasa Pura I (Persero) provides equal PT Angkasa Pura I (Persero) conducted a opportunities for all employees to take part in recruitment process that promoted the principles education and training programs. The programs of openness, fairness, and equality based on are carried out to improve employee skills and company needs and competencies owned by capacity to support the Company’s operations. candidates by taking into account the availability In 2019, no less than 264 training and education of local and national workforce. programs were attended by participants from the level of Board of Directors to employees with total expenditure for training purposes amounting to Rp 49.98 billion.

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Industrial Relations have received remuneration above the minimum The company is committed to providing support wage standard applicable in the Company’s to 2 (two) labor union organizations, namely operating territories. Remuneration received by Serikat Pekerja Angkasa Pura I (SP/ Angkasa Pura I employees of PT Angkasa Pura I (Persero) includes: Labor Union) and Asosiasi Karyawan Angkasa Pura • Monthly income, including basic salary, spouse I (AKA/ Employee Association of Angkasa Pura I) allowance, child support, food allowance, as employee representatives in the employment performance incentive, dearness allowance, affairs. The Company regularly holds meetings transportation allowance, position allowance, with the labor unions regarding the rights and and mobility allowance. obligations of employees and the Collective Labor • Annual income, including house rent Agreement (CLA). allowance, annual leave allowance, children education allowance, religious holiday Remuneration allowance, bonuses, and official uniform. The Company’s remuneration policy takes into • Health care, including outpatient, inpatient, account the skills, competencies, and integrity of and special services. employees and is accordance with the prevailing • Income based on certain conditions and laws and regulations. At present, all employees occasions.

Comparison Between Highest and Lowest Salaries at PT Angkasa Pura I (Persero) in 2019

Description Highest Value Lowest Value Ratio

Board of Commissioners 78,750,000 78,750,000 1:1

Board of Directors 175,000,000 148,750,000 1:2

Employees

Level I 56,960,324 35,267,515 1:6

Level II 30,636,027 27,651,992 1:1

Level III 20,015,658 18,256,753 1:1

Level IV 12,197,222 7,313,272 1:7

Pension Program Another indication of the corporate social and 6. Business visit; and environmental responsibility on employment 7. Resolution/personal action plan with YAKKAP I. issues is the pre-retirement preparation initiative. PT Angkasa Pura I (Persero) employees can In addition to the retirement preparation program, participate in the Pre-Retirement Training PT Angkasa Pura I (Persero) provides the following Program in preparation of retirement. The various facilities to retired employees: insights conveyed in this training program include 1. Pension Benefits through the Pension Fund the following: of PT Angkasa Pura I (Persero) (DAPENRA), 1. Spiritual emotion power; Financial Institution Pension Fund (DPLK) and 2. Tips for facing retirement status; Pension Assurance by BPJS Ketenagakerjaan. 3. Healthy secret; 2. Old Age Benefits, managed by the Employee 4. Entrepreneurship; Welfare Foundation of PT Angkasa Pura I 5. Creating a harmonious family post retirement; (Persero) (YAKKAP I).

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3. Retirement Health Care by YAKKAP I. 2. If the complaint cannot be resolved, the matter 4. Old Age Benefits by BPJS Ketenagakerjaan. can be submitted to the superior of the direct superior. Complaint Mechanism on Employment 3. If the matter remains unresolved, the PT Angkasa Pura I (Persero) has a complaint employee may report the matter to the Labor mechanism on employment as stated in Decree Union. of the Board of Directors No. KEP.41/KP.14/2013 4. If the mater remains unresolved, the matter concerning the Committee for Supervision and may be pursued in accordance with applicable Investigation of Employee Disciplinary Violations laws and regulations. (P4DP) of PT Angkasa Pura I (Persero). In case there are complaints and suggestions, employees may undertake the following: 1. Employee complaints shall be first discussed with the direct superior.

Description of Achievements pf Corporate Social Responsibility on Employment

Employee Health and Safety Occupational Health and Safety (OHS) is of PT Angkasa Pura I (Persero) provides health particular concern to PT Angkasa Pura I (Persero). facilities for employees and their family members Potential hazards and OHS risks often encountered which include: in the airport industry include loss of hearing due to 1. Outpatient care; the Company reimburses all noise, collisions between airport personnel vehicles, medical costs for employees visiting doctors fire risk, and other hazards that can hamper the other than those provided by the Company. Company’s business activities. For this reason, the 2. Inpatient care; the Company provides inpatient Company is committed to preventing these risks facilities for employees and their families in and protecting employees, the Company assets accordance with the service class determined and the surrounding environment from potential based on the position level. hazards of work accidents and occupational 3. Special services; the Company provides diseases. health facilities such as reading aids, dental care, hearing aids, prosthetic limbs, and eye prosthesis.

Furthermore, clinics are also available around the Company’s Head Office and branch offices for use by employees. Health facilities are not only available for current employees, but also for retired employees and their families in the form of hospitalization costs per person per year in accordance with Company provisions as managed by YAKKAP I.

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The practices of OHS policy are applied by all levels f. Evaluate OHS implementation in order of management and employees of PT Angkasa to create continuous improvement and a Pura I (Persero). The OHS policy is continually conducive environment for OHS. communicated to all employees and relevant stakeholders and is regularly reviewed by the OHS Manager Board of Directors. The OHS policy covers the In the head office, OHS is managed by Occupational following efforts: Safety Health Department in Airport Safety a. Prevent of workplace accidents, occupational Group, which was formed in 2016. Meanwhile, diseases, and damage to equipment, property organizational structure of OHS manager in and work environment. branch offices is divided into three based on their b. Create a workplace environment that is safe, size, namely: healthy, and comfortable for employees, 1. Large Class Airport; customers, business partners, as well as other 2. Middle Class Airport; parties within the Company to support the 3. Small Class Airport. achievement of the vision, mission, and goals of the Company. c. Comply with all laws and other requirements related to OHS and evaluate the compliance. d. Continuously provide guidance, application and maintenance on OHS within the Company. e. Fulfill competent human resources, operation- worthy equipment, safe work methods and work environment, and adequate budget to support the implementation of OHS programs.

Organizational Structure of OHS Manager of PT Angkasa Pura I (Persero) in the Head Office and Branch Offices

Head Office Large Class Airport Middle Class Airport Small Class Airport

1. Vice President Airport Safety Airport Safety & Quality Airport Security & Safety 1. Airport Operation Senior Manager Senior Manager & Technical Senior Manager* 2. Airport Operation & Safety Senior Manager**

2. Occupational Health and Safety Safety Management Safety Management 1. Airport Safety, Health Senior Manager System & Occupational System & Occupational Quality, and Risk Health and Safety Health and Safety Management Manager Manager Manager 2. Airport Operation, Services, Security, & Safety Manager***

3.a. Occupational Health and Safety Safety Management Safety Management Safety Management Health Analyst System & Occupational System & Occupational System & Occupational Health and Safety Safety Health Officer Safety Health Officer 3.a. Occupational Health and Safety Officer Health Officer

*for Airports in Kupang and Ambon **for Airport in Solo ***for Airport in Biak

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Furthermore, PT Angkasa Pura I (Persero) found productivity in 2019 can be seen in the following that well-managed employee health had a positive table: impact on work productivity. Increased employee

Year Revenue (Rp) Total Employees Productivity (Rp)

2019 8,631,546,000,000 3.355 2,572,740,984

2018 8,521,087,000,000 3.370 2,528,512,463

2017 7.194.347.000.000 3.350 2,174,566,269

Employee Turnover Corporate social responsibility efforts on the employee turnover rate by 1,07% compared to the workforce during 2019 resulted in a decrease in previous year, as presented in the following table.

Employee Turnover Rate of PT Angkasa Pura I Persero in 2017-2019

Description 2019 2018 2017

Retired 80 109 118

Resign 6 6 78

Death 10 6 8

Others 2 0 4

Total Employees Leaving 98 121 208

Total Employees 3.355 3.374 3.350

Turnover Rate 2,92% 3,59% 4,85%

In addition to the turnover rate, the quantitative with human resources management with the impact of activities on employment issues provision that the Company should continue can also be seen from the results of employee to make improvements in several aspects. The satisfaction surveys that were regularly carried results indicated that employees were loyal to the out by PT Angkasa Pura I (Persero). The employee company as it always accommodates employee satisfaction index in 2019 achieved a score of needs related to welfare, work opportunities, and 4,36 or an increase from 2018 of 4.35. This score a supportive work environment. indicated that employees were “Very Satisfied”

Employee Satisfaction Index of PT Angkasa Pura I (Persero) in 2017-2019

Description 2019 2018 2017

Employee Satisfaction Index 4.36 4.35 4.15

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Certification and Awards PT Angkasa Pura I (Persero) is the first airport SMK3 certificate with an average achievement service company to obtain the Occupational of 90,59, In addition, I Gusti Ngurah Rai Airport - Health and Safety Management System (SMK3) Bali, Sultan Aji Muhammad Sulaiman Sepinggan certificate with 166 criteria from the Ministry of Airport - Balikpapan, and Adi Soemarmo Airport Manpower. As of 2019, thirteen airports managed - Solo received OHSAS 18001:2007 certificate from by PT Angkasa Pura I (Persero) obtained the Sucofindo International Certification Services.

Consumers

The Company’s commitment to consistently take The Company has an Airport Safety Group Unit into account consumer satisfaction and safety is that specifically works to ensure the achievement reflected in Decree of the Board of Directors No. of specific safety levels and service quality KEP.38/OP.01/2009 dated 7 April 2009 concerning standards. This is accomplished through the Safety Safety Management System (SMS) at airports Management, Occupational Health and Safety, managed by PT Angkasa Pura I (Persero). and Quality Management systems. One of the objectives of the Airport Safety Group is to achieve Through this policy, the Company seeks to ensure a good Customer Satisfaction Index (CSI) score in the safety of flight operations so that flight risks accordance with applicable laws and regulations. may be reduced to tolerable levels and minimize the risk of injury to passengers in the airport area.

Airport Security

The Airport Security of PT Angkasa Pura I consumers. The roles and responsibilities of each (Persero) has three departments responsible for department within the Airport Safety Group are as managing the implementation of corporate social follows. and environmental responsibility activities for

Role and Responsibilities of the Airport Safety Group in 2019

Role Mission Primary Responsibility

Vice President Ensuring effective airport security services • To ensure the achievement of the Airport Security through improving the quality and reliability of aviation security level of service human resources to support the achievement of • To ensure compliance with CSI following national and international standards, regulations in all airports RKAP, and legislation. • To ensure the implementation of policies, strategies, and SOPs in airport security protection, airport security screening, and airport security quality control

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Role and Responsibilities of the Airport Safety Group in 2019

Role Mission Primary Responsibility

Airport Security To ensure flight security at airports for passengers, • To ensure the availability of policies, Screening Senior aircraft personnel, and luggage through effective airport strategy and SOP security Manager management of airport security screening screening activities to support the achievement of CSI • To ensure the availability of design following national and international standards, and airport layout following flight RKAP, and statutory regulations. security function

Airport Security To ensure the management of aviation security • To ensure the implementation of Quality Control supervision program activities at airports to airport security activities following Senior Manager fulfill compliance with effective aviation security the Airport Security Program (ASP) regulations to support the achievement of CSI • To ensure that the corrective action following national and international standards, plan for the airport security audit RKAP, and statutory regulations. runs according to the specified target • To ensure the availability and implementation of emergency response programs.

Commitment and Policy

In order to provide the best service for consumers • Circular No. ED.30/OP.02/2017/DU concerning (service users), specifically in relation to safety and Implementation of a Safety Management comfort in the airport areas, PT Angkasa Pura I System. (Persero) has implemented ISO 90001:2015 Quality Management System as a guideline in managing The health and safety of consumers certainly airport operations. In addition, the Company cannot be separated from the condition of a safe takes into account the implementation of Safety, and comfortable work environment for employees. Security, Service, and Compliance (3S + 1C) which In this case, the Company has a work safety policy ensures the safety of aircraft operations at the as regulated in Decree of the Board of Directors airports in accordance with Law No. 1 of 2009 No. KEP.08/KP.10/43/2018 dated 24 January 2018 concerning Aviation. concerning Manual on Occupational Health and Safety Management System of PT Angkasa Pura I Furthermore, as an airport operator, PT Angkasa (Persero). The Company continues to ensure that Pura I (Persero) complies with the obligation safety policies are understood and adhered by to implement a Safety Management System as all employees and stakeholders. In addition, the regulated in: Board of Directors periodically reviews the safety • Decree of the Board of Directors No. KEP.38/ policies to remain relevant and meet the needs of OP.1/2009 concerning Safety Management service users and in accordance with applicable System at Airports Managed by PT Angkasa regulations. Pura I (Persero), • Decree No. KEP.64/HK.03/2009 concerning Punishment in the Safety Management System (Non-Punitive Reporting Policy) at PT Angkasa Pura I (Persero), and

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In practice, the efforts of PT Angkasa Pura I Activities (Persero) in ensuring the safety of service users include: Occupational Health and Safety 1. Preventing incidents, serious incidents, and Occupational Health and Safety is a priority for PT accidents through identification of hazards Angkasa Pura I (Persero) so that airport service and safety promotion. users can carry out activities safely and comfortably 2. Complying with all laws and other policies in the work environment of airport. The Company related to safety and evaluating compliance. made several efforts related to OHS throughout 3. Continuously fostering, implementing and 2019 including the following activities. maintaining safety within PT Angkasa Pura I (Persero). 4. Evaluating safety practices to improve safety standards on an ongoing basis.

Activity Plan

As a form of the Company’s responsibility activity plan for service users, PT Angkasa Pura I (Persero) is committed to resolving consumer complaints under the Service Level Agreement (SLA) and achieving customer satisfaction scores of above 4.0 on a scale of 1 to 5. In addition, the Company implements a system management to ensure safety in all flight activities in accordance with national and international standards and the Airport Safety Management System manual.

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Occupational Health and Safety Activities of PT Angkasa Pura I (Persero) in 2019

Work Program Objectives Outcomes

OHS Promotion: 1. To improve the The program was conducted in January - March 2019, the activities 1. National Company’s consist of: OHS Month; image 1. OHS Month Assembly 2. OHS 2. To build 2. Signing of Safety Commitment with stakeholders Campaign awareness of the 3. OHS (K3) Award from the local Province, among others: Zero importance of Accident Award, P2K3 Award, OHS Performance Award, Award for OHS within PT Compliance Against Manpower Regulations of above 80%, OHS Angkasa Pura I Implementation Award, Award for Actively Implementing OHS (Persero) 4. OHS dissemination and seminar covering topics such as basic 3. To increase the OHS, zero accident, emergency response, occupational health application psychology, P2HIV/AIDS, prevention of fire hazards and basic of OHS in the life support, ergonomics at work, defensive safety driving, 5R airport work (housekeeping), sanitation, work environment management, etc. environment 5. Installation of OHS Month Banners 6. Blood donation with a total collected bags of 1,067 blood bags (from the head office and 13 airport branches) 7. OHS Competition and Exhibition

Airport Safety 1. To discuss OHS This activity was carried out on 26-29 March 2019 in Yogyakarta with Annual Meeting achievements participants from the Head Office and all branch offices. The results of 2019 in 13 (thirteen) the agreement on OHS are as follows: PT Angkasa 1. Frequency rate of Lost Time Injury occurrence for internal Pura I (Persero) employees has been determined to be less than or equal to 1 (LTI airports; FR ≤ 1); 2. To synchronize 2. Ensuring that SMK3 implementation level in all airport business the OHS processes (both airside and landside) is above 85% as evaluated strategic work through Internal Audit of at least once a year; programs at the 3. Airport branch offices shall be able to propose the Zero Accident head office and and P2HIV/AIDS awards to the Regional Office of Manpower; branch offices 4. Improving the culture of reporting and ensuring that everyone according to concerned can report on workplace accidents occurring in the the Operations airport environment through email, whatsapp, etc., as well as Directorate submitting an official report of the investigation results which Roadmap 2019 - include: 2023; a. Moderate accident (requiring medical treatment/ temporary disability); b. Severe accident (permanent disability); c. Fatality/ Death; d. Fire. 5. Optimization of Online Reporting System (ORS) integrated with the Safety Management System; 6. Optimization of personnel of other units holding OHS certificate through dissemination, knowledge sharing and OHS inspection; 7. Increasing publication of OHS activities in branch offices through social media in collaboration with the Communication & Legal Section as a form of safety promotion to the public; 8. Preparing for the implementation of ISO 45001:2018 through the stages of interpretation, dissemination, training and Gap Analysis.

SMK3 Internal 1. To determine the Internal Audit of SMK3 at 10 (ten) branch offices was carried out by the Audit 2019 as level of SMK3 head office team in May - October 2019, with the following results: regulated by implementation 1) Ahmad Yani International Airport - Semarang with achievement Government and consistency of 96.39% Regulation No. in each branch 2) I Gusti Ngurah Rai International Airport - Bali with achievement of 50 of 2012 office. 98.19% 3) SAMS Sepinggan International Airport Balikpapan with achievement of 94.57% 4) Adi Soemarmo International Airport – Solo with achievement of 93.37% 5) Adisutjipto International Airport - Yogyakarta with achievement of 95.78%

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Occupational Health and Safety Activities of PT Angkasa Pura I (Persero) in 2019

Work Program Objectives Outcomes

SMK3 Internal 2. To determine 6) El Tari International Airport – Kupang with achievement of 94.60% Audit 2019 as the level of 7) Juanda International Airport - Surabaya with achievement of regulated by compliance 98.19% Government against 8) Sultan Hasanuddin International Airport - Makassar with Regulation No. Government achievement of 98.19% 50 of 2012 Regulation 9) Syamsudin Noor Airport - Banjarmasin with achievement of No. 50 of 2012 96.98% concerning 10) Sam Ratulangi International Airport - Manado with achievement SMK3. of 98.19% 11) Lombok International Airport with achievement of 96.39%

Consolidation As an effort to foster, 1. Hazard Identification Risk Assessment (HIRA) was conducted of OHS implement, maintain on 15-16 April 2019 in order to monitor OHS in the Yogyakarta Implementation and evaluate International Airport - Kulon Progo Development Project in Airport Occupational Health 2. Operational Readiness, Activation & Transition (ORAT) activity was Development and Safety in the conducted on 22-30 April 2019 in preparation of verification and Project work environment operation of Yogyakarta International Airport of the Airport 3. Inspection on the preparation of the Natural Disaster Tsunami Development Project. Evacuation Exercise was conducted on 2 - 3 May 2019 at the Yogyakarta International Airport - Kulonprogo Development Project 4. Pre-Verification on Operation of the New Terminal at Adi Soemarmo Airport - Solo on 5 – 7 August 2019 5. Pre-Verification of the Operation of the New Taxiway at Yogyakarta International Airport - Kulon Progo on 18-19 September 2019 6. Verification of Operation of the New Terminal of Syamsudin Noor Airport - Banjarmasin on 6 - 8 November 2019.

OHS Electrical 1. To improve The training was held on 28 January – 11 February 2019 in Jakarta, with Expert Training employee the following objectives: (Certification competence on 1. To ensure the safety and health of workers and other people in the by the Ministry OHS workplace environment from potential electrical hazards of Manpower of 2. To comply with 2. To create electrical installations that are safe, reliable and is safe the Republic of applicable laws towards buildings and its contents Indonesia) and regulations 3. To create a safe and healthy workplace to encourage productivity.

Technical 1. Increased The Technical Guidance session was divided into 2 phases, namely: Guidance on understanding 1. Phase I (7 - 8 October 2019) Interpretation of of personnel on Technical Guidance on Interpretation of ISO 45001:2018 for ISO 45001: 2018 ISO 45001:2018 Airport Safety Group head office personnel and representatives of Occupational Occupational subsidiaries of PT Angkasa Pura I (Persero). Safety & Health Health 2. Phase II (9 - 10 October 2019) Management and Safety Technical Guidance on Interpretation of ISO 45001:2018 for OHS System Management personnel in all branch offices System 2. Fulfillment of The 2-day Technical Guidance session discussed on: ISO 45001: 2018 1. ISO 45001:2018 Occupational Health & Safety Management System clauses 2. Interpretation on fulfillment of ISO 45001: 2018 clauses 3. The difference between ISO 45001:2018 and OHSAS 18001:2007

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Safety Management System Administration of the Safety Management System 3. Safety assurance at PT Angkasa Pura I (Persero) includes 4 (four) a. Measurement and monitoring of safety pillars of the following activities: performance; 1. Safety policy and objectives b. Change management; and a. Management commitment and c. Continuous improvement of the Safety responsibility; Management System. b. Safety responsibility; c. Appointment of Safety Manager/Officer; Based on these four pillars of Safety Management d. Coordination of emergency management System, PT Angkasa Pura I (Persero) implemented plan; and various work programs during 2019 as follows. e. Documentation of the implementation of the Safety Management System. 2. Safety risk management a. Hazard/interference identification; and b. Risk assessment and mitigation.

Safety Management System Work Programs of PT Angkasa Pura I (Persero) in 2019

Program Name Objectives Description

Domestic To increase knowledge 1. The Safety Management System Training of Trainer was Training on SMS based on carried out in accordance with the Minister of Transportation ICAO regulations, Regulation No. 62 of 2017 concerning Civil Aviation Safety increase Single Regulations Part 19 (CASR) concerning Safety Management Accountable awareness System (Sub Part B Point 19.51) in developing and 2. ICAO Document Annex 19 implementing SMS and building a safety culture at the airport.

Airport Safety To ensure the The Airport Safety Annual Meeting in 2019 was held on 26-29 Annual Meeting implementation of March 2019 in Yogyakarta, and agreements in the field of Safety safety in all operations Management System are as follows: optimally through 1. To compile mandatory Safety Management System procedures administration of that refer to the Manual on SMS, covering: an effective safety a. Procedures related to Hazard Identification, Risk management Assessment and Risk Control; system to support b. Procedures related to the Reporting System; the maintenance of c. Procedures related to Change Management; operational safety d. Procedures related to Safety Inspection; levels based on the e. Procedures related to Safety Investigation; company’s work plan, f. Procedures related to Internal Audit; in accordance with the 2. To ensure that related units have the Method of Working implementation of 4 Plan (MOWP) procedures in every work that impact on flight pillars of SMS (Policy, operations; Risk Management, 3. To ensure that education and training proposals related to Assurance and safety are conveyed to the relevant unit, namely Human Capital/ Promotion) Training Development; 4. To remain using existing Safety Performance Indicator of 1 per 10,000 movements. 5. To determine Safety Target of PT Angkasa Pura I (Persero) in 2019-2020 as follows: Serious Incident / Accident due to FOD (Foreign Object Debris) is smaller or equal to the year

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Safety Management System Work Programs of PT Angkasa Pura I (Persero) in 2019

Program Name Objectives Description

Airport To measure the ability of personnel 1. The 102nd Emergency Response Exercise (PKD) Emergency and equipment of each unit involved, was held at Sultan Hasanuddin International Exercise in and compliance in implementing Airport - Makassar on 13 March 2019. Safety Aspect SOPs in the context of preparedness to 2. The 103rd Emergency Response Exercise (PKD) (PKD) cope with emergencies according to was held at Adi Sutjipto International Airport - their area of duty and to test applicable Yogyakarta on 26 June 2019. documents/ procedures. 3. The 104th Emergency Response Exercise (PKD) was held at Lombok - Praya International Airport on 7 August 2019. 4. The 105th Emergency Response Exercise (PKD) was held at Pattimura Airport - Ambon on 30 November 2019

Focus Group To have common understanding and A meeting was held with DGCA and related units on Discussion determine the safety targets of PT 6 February 2019 in Jakarta. on Safety Angkasa Pura I (Persero) for 2019-2020. Performance Indicator with DGCA and related units

Internal To prevent the recurrence of an event Accompaniment of the National Transportation Investigation and uphold the principle of no blame Safety Committee (KNKT) by Mr. Salim, SMS Senior policy Manager of the Head Office regarding the serious incident of Garuda Indonesia B 738 PK GFL 258 aircraft on 16-17 March 2019 in Yogyakarta.

Airport Safety To have common understanding of: Airport Safety Update Meeting was held on 12 April Update Meeting 1. Implementation of program on 2019 at the Head Office in Jakarta. measurement and supervision of internal safety performance at 13 branch offices; 2. Preparation for the implementation of APEX surveillance at 4 airports that was carried out in 2016 & 2017 (BPN, DPS, SUB & UPG); 3. Preparation of APEX plans for 4 airports in 2019 (LOP, MDC, SOC & SRG); 4. Preparation for annual safety audit by DGCA

To add joint Safety Program with airport stakeholders related to Safety Target, Safety Performance Indicator, and safety program, with UPG airport as the pilot project. This took the form of a Memorandum of Understanding (MoU) containing the safety program of each stakeholder

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As a commitment of PT Angkasa Pura I (Persero) in Pura I (Persero) conducted the following activities terms of ensuring occupational health and safety in 2019. for the satisfaction of service users, PT Angkasa

Activities of Consumer Safety Management System of PT Angkasa Pura I (Persero) in 2019

Activity Objectives Outcomes

Runway Safety To ensure that runway facilities and equipment Runway facilities at all airports managed Team are in good condition and ready for operation by PT Angkasa Pura I (Persero) are in good condition and ready for operation

Bird Strike To control the population of wild animals and Any disturbance of wild animals and birds Committe birds around the airport. that may have the potential to endanger the flight has been reported regularly.

Ramp Safety To increase awareness of aviation safety through The implementation of 3S + 1C (Safety, Campaign safety campaigns. Security, Services and Compliance) has been realized.

Measurement To ensure that processes and procedures Measurement and Monitoring of Safety and Monitoring operate effectively to achieve the established Performance have been carried out in 11 of Safety safety objectives and to determine the extent of (eleven) airports in 2019. Performance SMS implementation throughout all operational activities of the airport.

Emergency To measure the ability of personnel and Emergency Response Exercise (PKD) has Response Exercise equipment of each unit involved and been carried out in 4 (four) airports of PT compliance in implementing SOPs in Angkasa Pura I (Persero). the context of preparedness to cope with emergencies according to their area of duty and testing applicable documents/procedures.

Foreign Object To ensure the absence of FOD that has the FOD Cleaning has been carried out Debris (FOD) potentially to be a hazard for flight safety. regularly every Friday at all PT Angkasa Cleaning Pura I (Persero) airports.

Safety Awareness/ To apply 3S + 1C to all airport operational Safety awareness has been carried out at Safety Promotion activities. 13 airports in PT Angkasa Pura I (Persero).

Safety Risk To ensure potential hazards that can interfere Safety risk assessment/ site inspection has Assesment/ Site with flight safety operations. been carried out and reported regularly. Inspection

Runway Checking To ensure that runway facilities and equipment Runway facilities at all airports managed are in good condition and ready for operation. by PT Angkasa Pura I (Persero) are in good condition and ready for operation.

Emergency Response Exercise accordance with their line of work. PKD also PT Angkasa Pura I (Persero) is committed to attempts to validate the existing documents/ conduct the Emergency Response Exercise (PKD) procedures. on a regular basis with the following objectives: b. To generate recommendations that can be a. To measure the ability of personnel and used in an optimal manner to prevent mistakes equipment of each unit involved and during exercise and real emergencies. measuring compliance in carrying out Standard Operation Procedures (SOP) related PT Angkasa Pura I (Persero) conducted Emergency to preparedness for emergency response in Response Exercise for 4 times in 2019 as follows.

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Emergency Response Exercise of PT Angkasa Pura I (Persero) in 2019

Exercise Number Location Date Exercise Score

102nd Emergency Response Exercise Sultan Hasanuddin Airport - Makassar 13 March 2019 9.51

103rd Emergency Response Exercise Adi Sutjipto International Airport 26 June 2019 9.51

104th Emergency Response Exercise Lombok Internasional Airport – Praya 7 August 2019 9.69

105th Emergency Response Exercise Pattimura Airport – Ambon 30 November 2019 9.45

Aircraft Rescue & Fire Fighting (ARFF) Quality Management System Challenges 2019 Maintaining the quality of service is a form the PT Angkasa Pura I (Persero) personnels have an Company’s responsibility to its customers. Airport activity to socialize and exchange experiences service users have expectations for the Company and ideas with other fellow professionals on flight to implement an effective service system, and safety and airport operations. This activity has been therefore the Company has a series of processes carried out regularly since its first time in Makassar to implement a Quality Management System, in 1991 by PT Angkasa Pura I (Persero) with the aim namely: of improving the quality of ARFF personnels and 1. Define the required input and expected groups to be more alert and agile. output of the process; 2. Establish the sequence and interaction of The ARFF Challenge 2019 was held on 25 - 26 processes; September 2019 Surakarta – Solo participated by 3. Establish and apply the criteria, methods 56 ARFF members from airports managed by (including measurements and related PT Angkasa Pura I (Persero). The theme of the performance indicators) needed to ensure ARFF Challenges 2019 was “Increasing teamwork effective operation and process control; and team cohesiveness in order to support 4. Determine the resources needed and ensure operation excellence” which means that the their availability; Company is committed to create media for ARFF 5. Appoint the person-in-charge who has personnel to socialize, practice, share knowledge, authority over the process; exchange ideas, so as to find out the strengths 6. Manage risks and opportunities according to and weaknesses of each personnel so that they requirements; can improve and increase the quality of each 7. Evaluate methods for monitoring, measuring ARFF personnel, which is packaged in the form and evaluating processes to ensure the desired of competition and updating regulations with results are achieved; and current developments in the Aviation world. 8. Improve quality management processes and systems.

The work programs related to Quality Management System that have been implemented by PT Angkasa Pura I (Persero) throughout 2019 are as follows:

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Work Programs on Quality Management System of PT Angkasa Pura I (Persero) in 2019

Work Program Objectives Outcomes

Coordination To comply 1. The Airport Safety Group Work Meeting was held on 6-8 March Meetings, with customer 2019 based on the approval of the Director of Operations Work Meeting, requirements and through Office Memo of Vice President Airport Safety Number: and Quality applicable laws and DOF.36/OB.03.03/ 2019-B dated 21 January 2019. Management regulations 2. The Airport Safety Annual Meeting was held on 26-29 March FGD 2019 based on the approval of the Director of Operations through Office Memo No. DOF.128/TU.03.04/ 2019 dated 4 March 2019 in Yogyakarta.

Quality To ensure that Quality Assessment was carried out at: Assessment Emergency Response • Sultan Hasanuddin Airport - Makassar (14-15 March 2019) of Emergency Exercise is carried out • Adisutjipto Airport (25-27 June 2019) Response in accordance with • Lombok International Airport - Praya (7-9 August 2019) Exercise (4 applicable regulations • Pattimura Airport - Ambon (29-31 October 2019) Airports: UPG, JOG, LOP, & AMQ)

Program for To continuously foster An Internal Audit was carried out in conjunction with the Supervision Dissemination implement, maintain and Measurement of Safety Performance at 4 airports, totaling 11 and Technical and evaluate ISO airports as follows: Guidance/ 9001:2015 Quality 1. JOG (14-17 May 2019) Quality Management 2. SUB (14-17 May 2019) Promotion System based on 3. UPG (21-24 May 2019) Risk Based Thinking 4. SRG (21-24 May 2019) in the company 5. SOC (18-21 June 2019) environment (QMS 6. LOP (18-21 June 2019) documentation). 7. MDC (23-25 July 2019) 8. BPN (23-25 July 2019) 9. DPS (30 July - 1 August 2019) 10. KOE (21-23 August, 2019) 11. BDJ (9-11 October 2019)

ISO 9001:2015 To accompany Accompaniment of External Audit of ISO 9001:2015 Certification and External Audit branch offices in Surveillance was carried out at 10 airport branches, except Pattimura Accompaniment implementing ISO Airport - Ambon (10 December 2019), El Tari Airport - Kupang and (11 Branches) 9001:2015 Certification Frans Kaisiepo International Airport - Biak (2020). for Surveillance Audit and Surveillance Audit, except Audit at their Semarang respective offices

Quality Management System Activities for Airports PT Angkasa Pura I (Persero) continues to strive to have received ISO 9001: 2015 quality management implement and manage quality management certificates. Several service quality assurance systems in airport management based on ISO 9001: efforts have been carried out throughout 2019 2015 standards.As of the end of 2019, 13 airports through the following activities.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 441 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Quality Management System Activities for Airports of PT Angkasa Pura I (Persero) in 2019

Work Program Objectives Outcomes

Quality To provide quality assurance As of 2019, 13 airports have been certified on ISO Management services, enhance the Company’s 9001:2015 Scope of PJP2U (Passenger Service Charge), System image and maintain customer PJP4U (Aircraft Landing, Parking and Hanggar Services) Certification trust in the company and PJKP2U (Aircraft Cargo and Postal Services), except El Tari Airport - Kupang.

Internal Quality To ensure that Branch Offices 11 airports have conducted an Internal Quality Audit Audit have implemented the Quality in 2019, except El Tari Airport - Kupang (3rd week of Management System and make December 2019) and Frans Kaisiepo International sure that branch offices are ready Airport - Biak (2020) before the Certification Audit or Surveillance Audit by the Certification Body

Management To ensure that issues related to ISO All airports have held a Management Review Meeting Review Meeting 9001:2015 Quality Management in 2019 System are discussed and followed up before execution of the Surveillance Audit and Certification Audit

Dissemination To raise awareness of the All airports have disseminated ISO 9001:2015 Quality of ISO 9001:2015 importance of implementing ISO Management System to the operational and Quality 9001:2015 Quality Management administrative employees Management System in the work environment of System PT Angkasa Pura I (Persero)

ISO 9001: To improve the understanding of • All airports have conducted ISO 9001: 2015 Quality 2015 Quality ISO Team related to the Principles Management System Audit Training Management of Quality Audit Implementation • ISO 9001:2015 International Registered Certified System Audit before carrying out Internal Quality Auditor (IRCA Lead Auditor) Training was held on Training Audits 29 July – 2 August 2019 for all QM representatives of branch offices and the head office

Consumer Complaints Services PT Angkasa Pura I (Persero) provides multiple The contact center is supported by 25 personnels channels for submitting complaints as a who have knowledge on airport issues, the mechanism to ensure public satisfaction. The Company’s business processes, and have an ability complaints mechanism also helps the Company to communicate in accordance with SOPs and to understand the needs of service users, so SLAs. that it can evaluate and correct its services and shortcomings to meet consumer expectations. The work process at the airport contact center is as follows. Service users of PT Angkasa Pura I (Persero) can submit complaints that are available 24 hours a day through:

Telephone : 172 Email : [email protected] Twitter : @angkasapura172 Facebook : AngkasaPura 172

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Feedback Services Flow via Dial 172

Customer Inbound CC172 Outbound CC172 Airport PIC/ADM/ Unit/Partner/ CSSH Business Partner

Menerima eskalasi Menerima, Menerima, Dial 172 Menerima panggilan feedback dari Inbound mengevaluasi dan mengevaluasi dan Dial 172 dan Greetings CC172 menindaklanjuti menindaklanjuti Receiving calls and Receiving feedback feedback feedback Greetings escalation from Receiving, evaluating, Receiving, evaluating, Inbound CC172 and following up the and following up the feedback feedback

Memberikan identitas Ya Memiliki / tidak Proses tindak lanjut Menanyakan data Yes Providing the identity pengguna jasa (nama memiliki tindak lanjut sesuai dengan Having / Not having & nomor telepon) Ya Memiliki / tidak prosedur dari masing- Yes any follow up Asking the data of memiliki tindak lanjut masing instansi service users (name Having / Not having Follow up process and phone number) any follow up Tidak was in accordance Not with each institution's procedure Tidak Not

Berkordinasi dengan Memberitahukan Input data pengguna PIC BANDAR UDARA hasil tindak lanjut jasa di Database / ADM / CSSH Berkordinasi dengan feedback kepada Inputting data of Coordinating with Unit Terkait / Mitra PIC melalui lisan dan Service Users in airport PIC/ADM/ Kerja / Mitra Kerja / tertulis (berupa Nota Database lisan dan tertulis Menyampaikan tujuan SCCH Mitra Usaha (berupa Nota Dinas, Mentioning the Coordinating with Berita Acara, dll) purpose Related Unit/ Work Partner/ Business serta melampirkan Partner foto sebagai bukti, jika diperlukan Informing the result Menanyakan Tujuan of follow up feedback Asking purposes to PIC orally and written (in the form of Menerima hasil tindak note, news, etc) and lanjut PIC BANDAR attaching photo as the UDARA / ADM / CSSH evidence if needed Receiving the result of follow up from Airport PIC/ADM/CSSH

Menerima hasil Tidak Sesuai tindak lanjut dan Not menginformasikan Corresponding Penomoran dan ke CC172 untuk Identifikasi feedback disampaikan ke yang disampaikan Menyampaikan hasil pengguna jasa Numbering and tindak lanjut ke Menerima Konfirmasi Receiving the result Identifying feedback pengguna jasa dari CC172 of follow up and submitted Informing follow up to Receiving confirmation service users informing to CC172 from CC172 to forward the Mempunyai Membutuhkan information to service hasil tindak proses tindak users. Sesuai lanjut lanjut Corresponding Have follow-up Need a follow up results process

Menerima hasil tindak Mencatat dan Lanjut meninyimpan aktifitas Receiving the result of Melakukan proses yang dilakukan di follow up eskalasi / tindak Database lanjut Taking a note and Performing escalation recording the activity process / follow up conducted in the database

Selesai Mencatat dan Done menyimpan aktivitas yang dilakukan di Database Taking a note and recording the activity conducted in the database

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 443 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Feedback Services Flow via Social Media

Customer Contact Center Airport PIC/SDM/ Unit/Partner/ Officer Media CSSH Business Partner Social

Menerima, Feedback dikirim Menerima, Input data pengguna mengevaluasi dan melalui Email172, mengevaluasi dan jasa di Database menindaklanjuti Facebook172, menindaklanjuti Inputting the data of feedback Twitter172 dan media feedback service users in the Receiving, evaluating, sosial lainnya Receiving, evaluating, Database and following up the The Feedback was and following up the feedback sent to Email172, feedback Facebook172, Twitter172,and other social medias Penomoran dan Proses tindak lanjut Identifikasi feedback Ya sesuai dengan yang disampaikan Yes Memiliki / tidak prosedur dari masing- Numbering and memiliki tindak lanjut masing instansi identifying the Having / Not Having Processing the follow feedback feedback up based on the procedure of each Memberikan Data institution Providing data

Tidak Not Memiliki hasil Memberitahukan hasil Memiliki tindak Lanjut atau Have membutuhkan data tindak lanjut feedback lanjutan kepada PIC melalui Having the result of lisan dan tertulis follow up or needing Berkordinasi dengan (berupa Nota lisan further data Unit Terkait / Mitra dan tertulis (berupa Kerja / Mitra Kerja / Nota Dinas, Berita Mitra Usaha Acara, dll) serta Membutuhkan Coordinating with melampirkan foto data lanjut Related Unit/ Work Ya sebagai bukti, jika Requires further Partner / Business Yes data diperlukan Partner Informing the result of Tidak Sesuai Not follow up of feedback Corresponding Memiliki / tidak to PIC through oral and memiliki tindak lanjut written report (by oral Having / not having note, news, etc) and Menerima Konfirmasi follow up attaching photo as the dari CC172 evidence if needed Receiving confirmation Tidak from CC172 Not

Sesuai Berkordinasi dengan Corresponding PIC BANDAR UDARA / ADM / CSSH Menerima hasil Coordinating with tindak lanjut dan Airport PIC/ADM/ menginformasikan CSSH Menerima hasil tindak ke CC172 untuk Lanjut disampaikan ke Receiving the result of pengguna jasa follow up Receiving the result of follow up and informing to CC172 Menerima hasil tindak to distribute to the lanjut PIC BANDAR service user UDARA / ADM / CSSH Receiving the result of Follow up of Airport Selesai PIC/ADM/CSSH Done

Menyampaikan hasil tindak lanjut ke pengguna jasa Receiving the result of follow up to the service user

Mencatat dan meninyimpan aktifitas yang dilakukan di Database Taking a note and recording the activity conducted in database

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Feedback Services Flow via Customer Services

Customer Customer Service Outbound CC172 Airport PIC/ADM/ Unit/Partner/ CSSH Business Partner

Menerima eskalasi Menerima, Menerima, Greeting dan dalam Tatap muka Feedback dari mengevaluasi dan mengevaluasi dan posisi siap melayani Face to face Customer Service menindaklanjuti menindaklanjuti Greeting and in the Receiving feedback Feedback dari feedback position of ready to escalation from Customer Service Receiving, evaluating, serve customer service CC172 and following up the Receiving, evaluating, feedback and following up feedback from Curtomer Service Menanyakan data CC172 Proses tindak lanjut sesuai dengan Memberikan identita pengguna jasa s prosedur dari masing- Providing personal Asking the data of masing instansi identity service user Ya Memiliki / tidak Follow up process Yes memiliki tindak lanjut was based on the Having / not having Ya Memiliki / tidak procedure of each Yes the follow up memiliki tindak lanjut institution Having / not having Tidak the follow up Not Input data pengguna jasa di Database Tidak Memberitahukan hasil Not Input the data of tindak lanjut feedback Menyampaikan tujuan service user in kepada PIC melalui Communicating database lisan dan tertulis purposes Berkordinasi dengan (berupa Nota lisan PIC BANDAR UDARA dan tertulis (berupa / ADM / CSSH Berkordinasi dengan Nota Dinas, Berita Coordinating with Unit Terkait / Mitra Acara, dll) serta Airport PIC/ADM/ Kerja / Mitra Kerja / melampirkan foto CSSH Mitra Usaha sebagai bukti, jika Menanyakan Tujuan Coordinating with diperlukan Asking the purpose related Unit/Work Informing the result of Partner/Business feedback follow up to Partner PIC through oral and written report (oral note, news, etc) and attaching photo as the evidence

Tidak Sesuai Identifikasi tujuan Menerima hasil tindak Not lanjut PIC BANDAR Corresponding yang disampaikan Identifying the UDARA / ADM / CSSH purpose given Receiving the result of follow up from Airport Menerima hasil Menerima Konfirmasi PIC/ADM/CSSH tindak lanjut dan dari CC172 Mempunyai Membutuhkan menginformasikan ke Receiving confirmation hasil tindak proses tindak CC172 atau Customer from CC172 lanjut lanjut Service atau Have follow- Need a follow up disampaikan langsung up results process ke penggunakan jasa jika diselesaikan Menyampaikan hasil disolution room tindak lanjut ke Receiving the result of Melakukan proses pengguna jasa follow up and informing eskalasi / tindak Delivering the result to CC172 or Customer lanjut of follow up to the Service or directly Conducting escalation service user informing to the service process user if finished in the solution room

Sesuai Corresponding Diselesaikan di solution room Menerima hasil tindak Completed in the Menerima hasil tindak lanjut PIC BANDAR Mencatat dan solution room Lanjut UDARA / ADM / CSSH meninyimpan aktifitas Receiving the result of Receiving the result of yang dilakukan di Pencatatan aktivitas follow up follow up from Airport Database dan / hasil tindak PIC/ADM/CSSH Taking a note and lanjut ke dalam recording the activity Database dilakukan conducted in the oleh Customer Service database Recording the activity/ Menyampaikan hasil and the result of follow tindak lanjut ke up in the database pengguna jasa done by Customer Selesai Informing the result Service Done of follow up to the service user

Mencatat dan menyimpan aktivitas yang dilakukan di Database Taking a note and recording the activity done in the database

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 445 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Call Center 172 Flow Chart

Customer Call Center PIC Unit

Menerima pengaduan Mulai Menerima panggilan dan mengevaluasi Tulisan Dinas Start dan melakukan pengaduan News Greeting Receiving complain Receiving the call and and evaluating greeting complain

Menghubungi Call Center 172 Calling Call Center 172 Meminta Dara Pelanggan Memiliki / tidak Menindak lanjuti Asking the data from memiliki jawaban pengaduan sesuai customer Having /Not having dengan bobot ant answer pengaduan (sedang atau berat) dalam jangka waktu tertentu sesuai dengan SLA Mencatat identitas yang telah disepakati Following up the Memberi identitas penelpon Tidak Memiliki complain based on Providing identity Recording the identity Jawaban of the caller the complain rate No answer (moderate, or hard) in a particular time scope based on the agreed term Menyampaikan tujuan melakukan Menanyakan pemanggilan tujuan melakukan Informing the purpose Kordinasi pengaduan pemanggilan kepada unit terkait and calling the Asking the purpose of customer melalui lisan maupun calling tertulis (Nota Dinas) Coordinating the complain to related unit through oral or written report (news) Proses tindak lanjut Identifikasi sesuai prosedur Permintaan Informasi masing-masing / Pengaduan The follow up process Identifying information was in accordance with request / complain Tulisan Dinas each institution News Pengaduan Informasi / Sedang / Berat Pengaduan Ringan Moderate / Heavy Light Information / Complaints Complaints Mencatat pengaduan sedang atau berat Memonitoring tindak kedalam database lanjut penanganan Taking a note of pengaduan moderate and hard Monitoring follow up of Memberitahukan complain to the the complain hasil penanganan database pengaduan kepada PIC melalui lisan dan tertulis (Nota Dinas). Berita Acara, Foto) Tulisan Dinas sebagai dokumentasi Menghubungi PIC Notes Informing the result Calling PIC of follow up to the PIC through oral and written report (news, notes, etc) and Meerima jawaban attaching photo as the Receiving answer Menerima hasil tindak documentation lanjut dari PIC Menghubungi Call Receiving the result of Center 172 untuk follow up from PIC menyampaikan hasil penanganan pengaduan Calling call center 172 to report the result Mencatat hasil of follow up of the tindak lanjut yang complain Selesai disampaikan kedalam Done database Recording the result of follow up to the database

Menghubungi pelanggan untuk menginformasikan hasil tindak lanjut Contacting the customer to inform the result of follow up

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Level of Complaints Settlements Received Throughout 2019, the Company recorded 384,977 complaints or 99.98% of total cases have been complaints filed through various channels, namely resolved,while the complaints that have not been E-mail, Twitter, Facebook, Customer Service, Media resolved will continue the process in the following other than contact center 172, Public Relations, year. and Suggestion Boxes, and 11,737 complaints by telephone. During 2019, 384,904 incoming

Number of Consumer Complaints in 2019

Number of Incoming Number of Settled Description Percentage of Settlements Complaints Complaints

Telephone 11,737 11,714 99.80%

E-mail 6,379 6,358 99.67%

Twitter 2,026 2,018 99.61%

Facebook 316 314 99.37%

Suggestion Boxes 37 36 97.30%

Customer Service 360,075 360,075 100%

Media Selain 172 478 476 99.58%

Public Relations 3,929 3,913 99.59%

Service Improvement Program for To this end, the Company has involved consumers Consumers and relevant stakeholders in conducting a market In addition to providing technology-based research analysis through the Needs and Wants airport facilities, PT Angkasa Pura I (Persero) also Survey at several airports that are currently or will emphasizes more humanistic services for service undergo development. The survey aimed to obtain users. This is realized through the welcoming value information on customer preferences so that service delivered by professionals, and emphasizes PT Angkasa Pura I (Persero) can run appropriate greetings and salutations to consumers to create business activities according to the needs and an atmosphere of hospitality at the airport. In desires of customers. The results of the survey addition to welcoming value, these professionals analysis were used as inputs for determining are also tasked with promoting regional tourism business partners. locations and introducing local customs through the traditional clothing they wear during duty. During 2019, PT Angkasa Pura I (Persero) conducted the Needs and Wants Survey at three airports with Customer Needs and Wants Survey the following details. In addition to the aeronautics business, PT Angkasa Pura I (Persero) also runs a non-aeronautical business. An endeavor to optimize revenue in this line of business is to provide goods and services in accordance with the needs and desires of customers of PT Angkasa Pura I (Persero).

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 447 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Needs and Wants Survey Location of PT Angkasa Pura I in 2019

Airport Location Execution Date

Lombok International Airport 10 – 16 July 2019

Sam Ratulangi Airport – Manado 10 – 16 July 2019

Juanda Airport – Surabaya 10 – 16 July 2019

Service Innovation 2. Special Needs Services Holding Room In order to meet the dynamic customer satisfaction, Special Needs Services Holding Room is a PT Angkasa Pura I (Persero) endeavors to provide room provided for passengers with special service innovations. In 2019, the service innovation needs and is located in the terminal check- initiatives included the following: in area. The Special Needs Services Holding Room was inaugurated on 21 October 2019 1. multi Sensory Room at Jenderal Ahmad Yani International Airport A Multi Sensory Room is a waiting room for in Semarang. This facility is available at six passengers who have children with autism. airports managed by PT Angkasa Pura I This facility provides a sense of security and (Persero), namely: comfort for passengers while waiting for •I Gusti Ngurah Rai International Airport in boarding time. As the first multisensory service Denpasar in Asia Pacific, this facility was inaugurated on • Yogyakarta International Airport 21 October 2019 at the terminal of Jenderal • Adi Soemarno International Airport in Solo Ahmad Yani International Airport in Semarang. • Jenderal Ahmad Yani International Airport in Semarang The available facilities are designed to stimulate • SAMS Sepinggan Airport in Balikpapan the various senses, such as the mattresses • Syamsudin Nood International Airport, in installed on the floor and walls, instrumental Banjarmasin, while other airports will be music, gym balls, and colorful LED lights. This gradually facilitated with Special Needs room is specially designed to provide soothing Service Holding Room stimuli, overcome tension, and reduce temper tantrums for children with autism. The room The Special Needs Services Holding Room has two functions by turning it into a white and and the Multi Sensory Room are specifically a black room. White room is useful for creating designed with the hope of creating a sense of a sense of security, comfort, and relaxation, calm and comfort while waiting for the check- while the black room is useful to facilitate the in process and/or boarding time. Special understanding of children with autism about Needs Services Holding Room is equipped the environment and understanding of causal with chairs, tables, bean bags and mattresses. relationships. The availability of these facilities is expected to make the airport service users, especially those with special needs, feel comfortable and add value to services for business partners and airport managers.

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3. Guidelines a. Guidelines for Special Need Services for Following up on the development of Multi Children with Autism is addressed to Sensory Room and Special Needs Services airport officials, and Holding Room, the Airport Services and b. Guidelines for Passenger Experiences at Hospitality unit has published several online PT Angkasa Pura I (Persero) Airports is guidelines, namely: addressed to airport service users that can a. Guideline for Special Needs Services for be accessed via the website www.ap1.co.id. Children with Autism at the Airport, b. Guidelines for Special Needs Services at Information dissemination and technical the Airport, and assistance on the guidelines have been c. Guidelines for Passenger Experience at PT performed online and directly at the Head Angkasa Pura I (Persero) Airports. Office to airport personnels in the work area of PT Angkasa Pura I (Persero). This was Ratification of the guidelines coincided with conducted to develop the competence and the inauguration of the multisensory room capacity of personnels in providing services to and SNS Holding Room which was held at service users, especially to those with special Jenderal Ahmad Yani International Airport in needs. Semarang and designated for the following uses:

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4. live Chat a. To improve Voice of the Customer services; Live Chat is an online and live messaging service b. To increase service user satisfaction; and using an automatic feature connected directly c. To facilitate users in communicating with to the airport officials. Currently, consumers service providers in real time. can easily interact with service providers. The objective of using the live chat service is as follows:

Live Chat facility can be accessed through the website www.ap1.co.id and websites in the work area of PT Angkasa Pura I (Persero).

Flow chart graphics of Live Chat service

Yes

Website Has solution No Related Unit Assistance

Automatic CCO Yes Greeting

Mobile Application

PT Angkasa Pura I (Persero) 450 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

5. lost and Found System Airport Ambassador The Lost and Found System is a service In order to improve services and to maintain good provided to improve services and satisfaction and sustainable customer relationship between of airport service users with the following service users and airport manager, PT Angkasa objectives: Pura I (Persero) conducted the Airport Ambassador a. To facilitate service users in sharing their recruitment program in 2019. voice of customer related to lost and/or found items at the airport; The Airport Ambassador Program is expected to b. To facilitate service users in finding out provide more humane services to service users information on lost and/or found items at (Extra Life Facilities), to increase Welcoming Value the airport; through appropriate greetings and salutations c. To improve performance and integration to the passenger profile, and contribute to of Voice of the Customer reporting, atmosphere or ambiance hospitality at the airports. specifically reporting on lost and/or found The 42 selected airport ambassadors are native items at the airport. sons and daughters, and are domiciled in their respective regions of PT Angkasa Pura I (Persero) This service is provided in collaboration with the working areas. The ambassadors have passed the Airport Security and Information Technology required selection stages, and were subsequently unit as the system/application provider. appointed as employees with a Time Limited Contract Agreement from 1 May 2019 until 30 April Tourist Information Center 2021. During this specified time, the ambassadors Service users commonly visit a place of area for are not permitted to take part in the similar tourism purposes. Certain destinations need to selection event and/or become an ambassador for be traveled by airplane due to distance and time airport institution/business entity other than PT factors. Therefore, PT Angkasa Pura I (Persero) Angkasa Pura I (Persero). and the Ministry of Tourism have coordinated and collaborated in supporting tourism destinations The role of the Airport ambassador is to provide in Indonesia by providing the Tourist Information and promote airport services, tourism and Center (TIC) service. This service is provided at culture in their respective regions, to educate airport terminals and is used by service users to and to publish airport policies and regulations find out information and to have their questions to the public, particularly to the airport service answered about tourist attractions, tourist users related to Safety, Security, Services and sites, local culinary, accommodation and local Compliance (3S + 1C) through their social media transportation, or other tourist sites or locations. Accounts. The Ambassador also plays an active role in events organized by PT Angkasa Pura I (Persero) The TIC counters is located in the Arrival Terminal to be a representative to improve the Customer Area of all airports managed by PT Angkasa Pura I Satisfaction Index (CSI) score and the Company’s (Persero) and is equipped with facilities, including brand image. leaflets, maps of tourist sites and monitor screen that displaying tourism information. In addition to visiting TIC, PT Angkasa Pura I (Persero) Airport Ambassador and Cultural Affairs as well as Tourism Promotion Service Officers may provide various information related to tourism to tourists arriving at the airport, as needed.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 451 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

The duties and functions of the PT Angkasa Pura I 3. Tourism Promotion, representing and/or (Persero) Airport Ambassador are as follows: assisting the company in activities or events 1. Corporate Branding, creating or organizing with the theme of corporate branding, tourism activities or events, publications, campaigns, promotion and public relation. or promotions aimed at enhancing the company’s positive brand image. 2. Public Relation, creating or compiling and/or publishing tourism sites and/or local tourism and/or culinary tourism activities.

Certification

As of the end of 2019, all airports managed by In addition to the above certification, since PT Angkasa Pura I (Persero) have obtained 2016, I Gusti Ngurah Rai Airport (Bali), Sultan ISO 9001:2015 Quality Management System Aji Muhammad Sulaiman Sepinggan Airport certification. The certification awarded by the (Balikpapan), Juanda Airport (Surabaya), and United Registrar of Systems (URS), Lloyd’s Register Sultan Hasanuddin Airport (Makassar) have Indonesia, and TUV Rheinland covers the aspects received the Airport Excellence in Safety Certificate of Passenger Service Charge (PJP2U), Aircraft from Airport Council International (ACI). Landing, Parking and Hanggar Services (PJP4U), and Aircraft Cargo and Postal Service (PJKP2U).

Quantitative Impacts

PT Angkasa Pura I (Persero) conducted customer satisfaction assessment in the effort to evaluate the impacts of various customer service initiatives that have been carried out. The assessment was carried out through the Customer Satisfaction Index (CSI) survey involving various parties, such as passengers, flight crew, airline station managers, concessionary business partners, and cargo business partners. The CSI 2019 survey was carried out by an independent national institution, namely Indonesia National Air Carrier Association (INACA) using a Likert scale of 1 to 5. The results of the CSI 2019 survey indicated an increase compared to 2018, which is shown in detail as follows.

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CSI Survey Results at PT Angkasa Pura I (Persero) Airports

Location 2019 Score 2018 Score

Sultan Aji Muhammad Sulaiman Sepinggan Airport - 4,85 4,76 Balikpapan

I Gusti Ngurah Rai Airport - Denpasar 4,81 4,77

Sultan Hasanuddin Airport - Makassar 4,58 4,42

Sam Ratulangi Airport - Manado 4,63 4,58

Syamsudin Noor Airport - Banjarmasin 4,52 4,44

Frans Kaisiepo Airport - Biak 4,50 4,38

Bandara Frans Kaisiepo - Biak 4,42 4,22

Jendral Ahmad Yani Airport - Semarang 4,61 4,35

Lombok Airport - Central Lombok 4,44 4,27

Pattimura Airport - Ambon 4,21 4,22

Juanda Airport - Surabaya 4,63 4,47

Adi Soemarmo Airport,- Boyolali, Surakarta 4,40 4,21

Adisutjipto Airport, Yogyakarta 4,27 4,07

In addition the CSI Survey, the positive impact (Manado), Lombok Airport (Central Lombok), of responsibility to consumers was also assessed Adi Soemarmo Airport (Surakarta), and El Tari based on level of airport service quality, namely Airport (Kupang). through the Airport Service Quality (ASQ) Survey. This survey was conducted by an independent 34 aspects were assessed in the ASQ Survey, international institution, namely Airport Council including access to and from airports, airport International (ACI) to ten airports, including facilities, environment, service of officers, and Juanda Airport (Surabaya), I Gusti Ngurah Rai other aspects related to services to consumers. Airport (Denpasar), Sultan Hasanuddin Airport The assessment of these aspects was measured (Makassar), Sultan Airport Aji Muhammad using a Likert Scale from 1 (lowest) to 5 (highest). Sulaiman (Balikpapan), Sam Ratulangi Airport

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 453 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

In general, the results of the ASQ 2019 survey indicated an increase in the quality of airport services compared to the previous year.

Result of ASQ Survey in PT Angkasa Pura I (Persero) in 2018 and 2019

Location 2019 Score 2018 Score

Sultan Aji Muhammad Sulaiman Sepinggan Airport - 4,97 4,93 Balikpapan

I Gusti Ngurah Rai Airport - Denpasar 4,94 4,92

Sultan Hasanuddin Airport - Makassar 4,80 4,62

Sam Ratulangi Airport - Manado 4,75 4,69

El Tari Airport - Kupang 3,98 3,93

Lombok Airport – Central Lombok 4,42 4,17

Adi Soemarmo Airport – Boyolali, Surakarta 4,29 4,26

Juanda Airport - Surabaya 4,80 4,86

Ahmad Yani Airport - Semarang 4,36 -

Pattimura Airport - Ambon 3.50 -

The most significant increase in the results of the Meanwhile, the development in the terminal ASQ Survey in 2019 was at Lombok Airport with area includes the construction of the terminal a score of 4.42, which was higher than the score expansion on the west side to be operated into in the previous year of 4.17. The increase was an international terminal and the east side into driven by the efforts made by Lombok Airport in a domestic terminal and the construction of improving the quality of service and satisfaction additional waiting space for passengers with an of airport service users as well as the preparation area of 1,087m2 on the 3rd floor of the existing of Lombok Airport to host an international terminal. This room is equipped with supporting MotoGP event in 2021. Lombok Airport has facilities, such as toilet and musalla. Further built service facilities and infrastructure in development is on the landslide, including the airside area, including the construction of arrangement of street vendors by providing apron and parallel taxiways with the addition of trading site, education and appeals in order eight parking stands for narrow-body aircraft, to be orderly, clean and tidy in running their the airport currently has 18 parking stands businesses, handling illegal taxis in collaboration equivalent to the narrow body so that it can with security personnel of the TNI and POLRI accommodate 22 aircraft movements per hour. followed by appeals to illegal taxi drivers as their illegal activities disturb the convenience of airport service users.

PT Angkasa Pura I (Persero) 454 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Impact of Quality Management on Safety

Throughout 2019, PT Angkasa Pura I (Persero) (in the Scope of Passenger Service Charge (PJP2U), was able to effectively increase the safety of Aircraft Landing, Parking and Hanggar Services service users. This is due to the commitment (PJP4U), and Aircraft Cargo and Postal Services of all personnel and the role of stakeholders in (PJKP2U)) which has gradually improved in the implementing ISO 9001:2015 Quality Management last few years. This was indicated by a decrease in System. In addition, dissemination and training on the number of audit findings that occurred from quality management was also able to improve the year to year. performance of airport safety services. The following table shows the number of internal The impact of quality management on safety can quality audit findings for 2017, 2018 and 2019. be seen in the results of the Internal Quality Audit

Number of Internal Quality Audit Findings in 2017-2019

Branch DPS UPG SUB BPN JOG BDJ MDC LOP SRG AMQ KOE BIK SOC Total

2019 13 13 12 6 23 8 10 13 11 10 14 10 15 160

2018 6 2 1 17 12 0 11 11 2 7 5 8 2 84

2017 2 6 2 20 19 5 8 13 1 50 5 16 11 158

Based on data, the findings of Internal and in gathering information/audit evidence to External Quality Audit from each airport,have be compared with the audit criteria in which increased from year to year, this is because: the overall results are concluded for assessing 1. The scope of the audit increased from 2 scopes the effectiveness of implementing a quality (PJP2U & PJP4U) to 3 scopes (PJP2U, PJP4U, management system. and PJKP2U) in 2018/2019. 4. Quality audits are carried out by sampling, the 2. In principle, in the Quality Management more processes being audited allows more System, the existence of an audit finding nonconformities to be found, it is beneficial to indicates nonconformity with audit make improvements to work processes and criteria or opportunities for improvement. the most important matter,is not a decrease Nonconformity is deviation of audit criteria in the number of findings, but rather the specified in the ISO 9001: 2015 clause completion or follow-up of findings of existing supported by objective evidence. The auditor nonconformities The more results of follow-up must investigate to determine audit criteria on findings of nonconformities whose status is that are not met and set recommendations for resolved, the better the quality culture. corrective action on the findings. 3. The more findings do not indicate poor performance, but this indicates the more profound the auditor in finding the results of nonconformity in a work process, the more frequent audit , and the more skilled auditor

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 455 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Social and Community Development

Commitment and Policy

PT Angkasa Pura I (Persero) views the community 3. Minister of State-Owned Enterprise Regulation as an important and influential stakeholder in the No. PER-02/MBU/07/2017 dated 20 July 2017 company’s business sphere. For this reason, the concerning Second Amendment to Minister of Company is committed to creating harmonious State-Owned Enterprise Regulation No. PER- relationships with the community and managing 09/MBU/07/2015 concerning Partnership and direct or indirect impacts due to operational Community Development Program of State- activities or company policies. This is achieved Owned Enterprise. through social and community initiatives, 4. Decree of the Board of Directors of PT Angkasa specifically the Partnership and Community Pura I (Persero) No. KEP.103/KU.13/ 2017 Development Program (PKBL) and other corporate dated 7 August 2017 concerning Guidelines social responsibility (CSR) activities that are for Implementing the Partnership and planned, targeted, transparent and sustainable. Community Development Program of PT Angkasa Pura I (Persero). Social and community development activities are 5. Decree of the Board of Directors of PT Angkasa carried out based on the following policies: Pura I (Persero) No. KEP.239/KU.12/ 2017 dated 1. Minister of State-Owned Enterprise Regulation 20 December 2017 concerning Amendment to No. PER-09/MBU/07/2015 dated 3 July 2015 Decree of the Board of Directors No. KEP.103/ concerning Partnership and Community KU.13/2017 dated 7 August 2017 concerning Development Program of State-Owned Guidelines for Implementing the Partnership Enterprise. and Community Development Program of PT 2. Minister of State-Owned Enterprse Regulation Angkasa Pura I (Persero). No. PER-03/MBU/12/2016 dated 16 December 6. Decree of the Board of Directors of PT Angkasa 2016 concerning Amendment to Minister of Pura I (Persero) No. KEP.238/KU.13/ 2018 dated State-Owned Enterprise Regulation No. PER- 20 December 2018 concerning Guidelines for 09/MBU/ 07/2015 concerning Partnership and Corporate Social Responsibility (CSR) within PT Community Development Program of State- Angkasa Pura I (Persero). Owned Enterprise.

PT Angkasa Pura I (Persero) 456 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Formulation of Corporate Social Responsibility related to Social and Community Development

In carrying out social responsibility on social Department, evaluations or reviews conducted by and community development, PT Angkasa the management team at the branch office of the Pura I (Persero) carried out the mechanism of work program area, reviewing and submitting the the Partnership and Community Development Board of Directors approval, to selecting vendors Program (PKBL) and other community that meet company standards. empowerment activities. In this case, the Company carried out the PKBL in accordance Furthermore, in the formulation of PKBL activities, with the direction of the Ministry of State-Owned PT Angkasa Pura I (Persero) has considered various Enterprises program and community needs. impacts and risks and opportunities that exist in the community. Some of these include social In practice, PT Angkasa Pura I (Persero) engages risk in the provision of loan in the form of bad the community and other relevant stakeholders loans, which can be mitigated by the system and in formulating CSR programs in the social sector procedure of granting credit. through various activities. These include surveys involving relevant stakeholders such as the Tourism Department and the local Education and Culture

Planning for Corporate Social Responsibility Activities Related to Social and Community Development

PT Angkasa Pura I (Persero) has set targets for Department and the Education and Culture implementing PKBL, including the number of Department as well as implementing partners of beneficiaries of loans, along with guidance for activities that meet company standards. them, and the absorption of Assistance Program. In implementing PKBL, several programs aimed In certain situations, PT Angkasa Pura I (Persero) at reducing negative impacts on the community has an emergency and/or conflict mechanism include training program for residents affected related to community relations through the by the construction of Yogyakarta International Angkasa Pura contact center 172. Airport. Throughout 2019, PT Angkasa Pura I (Persero) Furthermore, several activities were planned has allocated funding for the Partnership and during 2019 with the aim of building social capital Community Development Program amounting to and community independence. The activities Rp70,164,579,500. The featured programs in 2019 included the distribution of partnership program included the following: funds for Putat Patuk Gunung Kidul Village, a. mobile Health Service especially in the industrial and trade sectors to Mobile Health Service has been the leading improve the economic performance of local program of PT Angkasa Pura I (Persero) community. since 2012. As of 2019, 12 Branch Offices have implemented the program. This program In implementing these activities, PT Angkasa offers free health services for residents around Pura I (Persero) sought to generate mutual the work area, especially for villages located benefits between the Company and stakeholders, far from local health facilities. The target especially local Governments such as the Tourism beneficiaries of this program are pregnant

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 457 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

women, infants and toddlers. However, general adequate toilet facilities. PT Angkasa Pura I patients may also avail the services provided. (Persero) collaborated with PT Angkasa Pura In this regard, PT Angkasa Pura I (Persero) Property in constructing the public toilets. cooperates with the local health office, wherein The realization costs incurred for this program services are provided with the assistance of amounted to Rp 3,980,313,000. the local health center. This program was conducted in several villages around the c. Diploma III Scholarship on a Concentration of work area in turn in accordance with the pre- Airports determined schedule. An ambulance unit was The provision of scholarships is a new flagship also available to facilitate the transportation program in 2019. PT Angkasa Pura I (Persero) of patients requiring special treatment to the provided full scholarships to 30 selected nearest hospital. During 2019, a total of 1,395 students to undergo Diploma III education pregnant women, 10,868 infants/ toddlers, and with a concentration of airports. In its 12,675 general patients received health services implementation, PT Angkasa Pura I (Persero) from the Mobile Health Services program. In collaborated with University of Mataram addition to providing free medical treatment, Lombok and English First for English language food packets were also distributed for toddlers training. In addition to providing scholarships, and pregnant women. The realization costs PT Angkasa Pura I (Persero) also cooperated incured for the Mobile Health Services with the Indonesian military (TNI) to foster a program in 2019 amounted to Rp 3,180,181,009. sense of discipline in students. The provision of scholarships and support is expected to b. Public Toilets at Tourist Destinations produce high quality youths who are not only Another leading program was the construction highly capable but also responsible. of toilets at tourist destinations around the work area of PT Angkasa Pura I (Persero). To participate in this program, prospective During 2019, public toilets has constructed students who applied had to undergo three public toilets at six tourist destinations, namely: selection stages, namely, administrative, • Lasiana Beach, Kupang psychological test, health check and interview. • Pulisan Beach, North Minahasa In 2019, of the 66 prospective students who • Pengger Pine Forest, Yogyakarta applied, 29 students passed the selection stage • Taru Jurug Wildlife Park, Surakarta and were entitled to receive scholarships. The • Parking Area Besakih Temple, Bali participants were high school and vocational • Batimurung Park, Maros high school students who were recommended by their respective schools through the local This program is expected to increase the Education Department. In its implementation, number of tourist visits to the tourist sites, students also receive accommodation facilities because public toilet facilities are vital to at the Selaparang training center, Lombok. ensuring tourist comfort. In its implementation, The realization costs incurred for this program PT Angkasa Pura I (Persero) coordinated with amounted to Rp 1,692,024,877. the Tourism Department in the selection of tourist sites to be provided with public toilet facilities, namely sites with a relatively high number of visits but as yet do not have

PT Angkasa Pura I (Persero) 458 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

d. Digital Library d. BUMN Hadir Untuk Negeri (SOE’s Serving In keeping with the latest developments of the Nation) the digital age, PT Angkasa Pura I (Persero) The ‘BUMN Hadir Untuk Negeri’ (SOE’s Serving has taken the initiative to establish a Digital the Nation) is a program of the Ministry of Library to increase public interest in reading. SOEs. To ensure that this activity was carried This program provides free access to a website out properly and on target, the Ministry of SOEs containing e-books for general readers, youth, divided the 74th anniversary of Indonesian children and classical literature as well as celebrations into 34 provinces, each led by a SOE curriculum books for primary, middle and in-charge and assisted by a deputy SOE. high schools. In addition to e-books, audio books and educational films are also available. For the 74th Anniversary of Indonesian The digital library facilities are planned to be Independence Day celebrations in Central installed in public zones around the work Java Province, PT Angkasa Pura I (Persero) was areas. In 2019, digital library facilities were appointed as the SOE in-charge assisted by installed in three areas around PT Angkasa several deputies, namely PT Kawasan Industri Pura I (Persero) branch offices, namely: Wijayakusuma (Persero), PT Perkebunan • Adisutjipto Airport Branch Office: Nusantara IX, and PT Perkebunan Nusantara X. Cinarito reading park, Nologaten Village Furthermore, the series of “SOE’s Serving the Ambarukmo Nation” programs conducted by PT Angkasa • Syamsudin Noor Airport Branch Office: Pura I (Persero) in 2019 were as follows: Community Learning Activity Center • Students Get Acquinted with The (PKBM) Kuranji complex, Banjarbaru City Archipelago • SAMS Airport Branch Office Balikpapan: • Home Electrification Rumah Pintar Sepinggan Raya. • Home assistance • Nataru People who want to read e-books and listen • Safari Ramadan. to audio books only need to visit the areas that are fitted with digital library facilities The realization costs incurred for the ‘SOE’s and may also connect their mobile phones/ Serving the Nation’ program in 2019 amounted tablets/ computers. PT Angkasa Pura I (Persero) to Rp 4.893.218.922. collaborated with Balai Pustaka as the provider of e-book facilities and content for this program. The realization costs incurred for this program in 2019 amounted to Rp 353,620,000.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 459 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Description of the Implementation of The executioan and management of PKBL funds Corporate Social Responsibility Activities at the Head Office are under the responsibility on Social and Community Development of the Vice President of Corporate Social Partnership and Community Development Responsibility, assisted directly by the Corporate Program Management Structure Social Responsibility Cooperation Senior Manager The PKBL management organization is in the and Corporate Social Environment Senior Corporate Social Responsibility Unit following the Manager. The management of PKBL funds at Decree of the Board of Directors of PT Angkasa large airports branch offices is arried out by the Pura I (Persero) number KEP.101 / OM.01.01 / 2018. CSR Manager who is responsible for the Shared The unit is directly responsible to the Director of Services Senior Manager. The management of Human Resources and General Affairs. PKBL funds in other Branch Offices is carried out by the Manager in charge of Human Capital under the responsibility of the Senior Manager in charge of Shared Services.

Organizational Structure of Partnership and Community Development Program in PT Angkasa Pura I (Persero)

Human Capital and General Affairs Director

VP Corporate Social Responsibility

CSR Cooperation CSR Environment Senior Manager enior Manager

Involvement of Management and Stakeholders to bring about economic independence for the Implementation of corporate social responsibility community, generate income and employment activities related to social and community for community members. development was carried out in a strategic manner a. Disbursement of Partnership Program Funds and involved key stakeholders. Within PT Angkasa PT Angkasa Pura I (Persero) provide funding Pura I (Persero), top management, namely the for the Partnership Program on a non- Board of Directors and the Board of Commissioners commercial basis for small businesses. The were involved in reviewing and discussing PKBL mechanism for fund disbursement is based Report in a Joint Meeting of the Board of Directors on assessment of fulfillment of requirements, and the Board of Commissioners. installment provisions adjusted to the capacity of the business, and the need for Partnership Program mentoring the businesses. The realization of The Partnership Program aims to channel partnership program fund disbursement has partnership loans for working capital and been effective in achieving targets, namely as investment for small businesses run by the local follows: community. The partnership loans are expected

PT Angkasa Pura I (Persero) 460 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Number of Partnership Program Loans Disbursements in 2017-2019

Disbursement Cumulative Disbursement Year Number of Partners Value (Rp) Number of Partners Value (Rp)

2019 513 23,091,500 14,212 413,012,749

2018 435 26,517,500 13,699 389,921,250

2017 560 26,887,000 13,264 363,403,750

Based on the distribution of fostered partners per the plantation sector amounting to Rp 2,763,250. business sector, the largest loan funds disbursed to Details of the loan disbursement per business the trade sector amounting to Rp 174,946,696. On sector as of 31 December 2019 can be seen in the the other hand, the lowest loan funds disbursed to following table.

Amount of Loan Disbursement of Partnership Program Based on Business Sector in 2019

Realization of Realization of Accumulation up to 2018 Realization in 2019 (Rp) Accumulation up to 2019 (Rp) (Rp) Fostered Partners Business Sector Number Number Number of Value (Rp) of Value (Rp) of Value (Rp) Partners Partners Partners

Industry 3.341 98,784,762 142 6,688,500 3,483 105,473,262

Trade 6.551 174,946,696 227 10,655,000 6,778 185,601,696

Agriculture 155 14,060,866 5 335,000 160 14,395,866

Animal Husbandry 350 8,548,342 20 750,000 370 9,298,342

Plantation 97 2,763,250 27 745,000 124 3,508,250

Fisheries 136 3,633,500 11 490,000 147 4,123,500

Service 2.894 83,195,833 80 3,420,000 2,974 86,615,833

Other sectors 175 3,988,000 1 8,000,000 176 3,996,000

Total 13.699 389,921,250 513 23,091,500 14,212 413,012,749

Furthermore, with respect to disbursement of program fund was also disbursed in Partnership Program funds by region, the highest amounting to Rp 36,746,250 for 1,420 fostered fund disbursement was in East Java amounting partners and in amounting to Rp to Rp 49,300,346 for 1,435 fostered partners. The 35,971,500 for 1,027 fostered partners. Java and Bali second highest fund disbursement was in Bali remains the biggest targets because most of the amounting to Rp 47,820,750 and Yogyakarta population and business operators are on these amounting to Rp 40,594,950. In addition to East two islands. Java and Bali, a large amount of parnership

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 461 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Based on the distribution of fostered partners by region, loan funds disbursed as of 31 December 2019 were as follows:

Amount of Loan Disbursement of Partnership Program Based on Regions in 2019

Realization of Realization of Accumulation up to 2018 Realization in 2019 (Rp) Accumulation up to 2019 Fostered Partners (Rp) (Rp) Business Sector Number Number Number of Value (Rp) of Value (Rp) of Value (Rp) Partners Partners Partners

Special Capital Region of 417 23,443,000 n/a n/a 417 23,443,000 Jakarta

Bali 1,679 47,820,750 67 2.435.000 1,746 50,255,750

East Java 1,435 49,300,346 52 3,040,000 1,487 52,340,346

South Sulawesi 1,420 36,746,250 38 1,395,000 1,458 38,141,250

East Kalimantan 1,027 35,971,500 45 2,340,000 1,072 38,311,500

Papua 569 9,221,500 5 230,000 574 9,451,500

North Sulawesi 830 22,115,750 40 1,795,000 870 23,910,750

Yogyakarta 1,110 40,594,950 52 2,360,000 1,162 42,954,950

Central Java (Solo) 747 21,687,250 31 1,660,000 778 23,347,250

South Kalimantan 1,286 28,425,250 75 2,326,500 1,361 30,751,750

Central Java (Semarang) 830 23,838,512 31 1,805,000 861 25,643,512

West Nusa Tenggara 1,214 29,873,250 47 2,380,000 1,261 32,253,250

Maluku 211 3,553,000 12 405,000 223 3,958,000

East Nusa Tenggara 924 17,329,942 18 920,000 942 18,249,941

Total 13,699 389,921,250 513 23,091,500 14,212 413,012,749

a. Coaching Grants the company collaborates with universities and The provision of coaching grants is one of other institutions competent in developing the derivative activities of the Partnership entrepreneurship science. Program as regulated in Minister of State- Owned Enterprise Regulation No. PER- Until 2019, training program for fostered 03/MBU/12/2016 dated 16 December 2016 partners carried out by PT Angkasa Pura I concerning Amendment to Minister of State- (Persero) included Entrepreneurship & Creative Owned Enterprise Regulation No. PER-09/ Marketing Training, Fostered Partner Training, MBU/07/2015 concerning Partnership and Meatballs Making Training, Skill Management Community Development Program of State- of Fostered Partners , Basic Training for Owned Enterprises. Business Development of Fostered Partners , Entrepreneurship Training ,and Training of PT Angkasa Pura I (Persero) provided coaching Fostered Partners. grants in the form of education, training, internship, marketing, promotion, and other On the other hand, PT Angkasa Pura I (Persero) programs to improve productivity among provides opportunities for fostered partners fostered partners on an ongoing basis. To from various regions to exchange knowledge conduct training program for fostered partners, and business experience with fostered partners

PT Angkasa Pura I (Persero) 462 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

from other regions through internship program SME Festival, Borneo Fair Exhibition, and 34th every year. Throughout 2019, internship Trade Expo Exhibition, the participation of Sam program has been carried out consisting of Ratulangi Airport - Manado fostered partners in exchanging experiences of fostered partners. TIFF Exhibition, and Manado Fiesta Exhibition, the participation of Adi Soemarmo Airport - In addition to providing training, education Solo fostered partners in BHUN Solo Fostered and internship opportunities to the fostered Partner Exhibition, Nusantara Superior Fabric partners, PT Angkasa Pura I (Persero) also Exhibition, Yogya Inafact Exhibition, and promotes products and services provided by Solo Craft Indo Exhibition, the participation the fostered partners through catalog books of Syamsudin Noor Airport - Banjarmasjin and exhibitions at home and abroad. fostered partnets in the South Kalimantan Expo Exhibition, the participation of Jenderal Ahmad Throughout 2019, PT Angkasa Pura I (Persero) Yani Airport - Semarang fostered partners in has included I Gusti Ngurah Rai Airport – Bali the Central Java Expo Dekranasda Exhibition, fostered partners in Pesta Rakyat Nusantara, as well as the participation of Lombok Praya the participation of Juanda Airport - Surabaya International Airport fostered partners in the fostered partners in Pameran Festival Merdeka NTB Expo Exhibition. Pertamina BHUN, East Java Fair Exhibition, and Batik Fashion Fair Exhibition, the participation In addition to the exhibitions above, several of Sultan Hasanuddin Airport - Makassar exhibition programs were participated by several fostered partners in South Sulawesi Exhibition branch offices, namely the Inacraft Exhibition Fair, Makassar Expo Exhibition, and Nusantara and the Batam Inafact Exhibition. Promotion Day Exhibition, the participation of SAMS of the exhibition was also carried out overseas Sepinggan Airport - Balikpapan fostered at the Daebak Indonesia Festival Exhibition in partner in Balikpapan Fair Exhibition, Gebyar South Korea participated by Adisutjipto Airport UKM, Mathilda Fest Exhibition, East Kalimantan - Yogyakarta fostered partners.

Coaching Grants Disbursement to Fostered Partners of PT Angkasa Pura I (Persero)

Value (Rp) Coaching Type 2019 2018 2017

Training 474,091,866 749,062,600 868,685,000

Exhibition 1,327,389,276 2,167,911,866 154,208,000

Internship 130,828,000 134,804,132 1,740,377,000

Grants to Special SOEs* 2,000,000,000 (-) (-)

Total 3,852,959,000 3,051,778,598 2,763,270,000

*Distributed as a partnership loan through PT PNM to 856 PNM Mekar businesses in Bali, Surabaya and Balikpapan

Community Development Program Company’s commitment in improving the a. Assistance for natural disaster victims; quality of life of community’s social environment b. Education and/or training assistance; is manifested in the implementation of c. Community health improvement assistance; Community Development Program.. Since 1992, d. Public facility and infrastructure development the implementation of Community Development assistance; Program covers strategic and responsive programs, e. Religious facilities assistance; consisting of: f. Nature conservation assiatance; and g. Social assistance.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 463 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

a. Assistance For Natural Disaster Victims Until 2019, PT Angkasa Pura I (Persero) had In order to alleviate the burden of people disbursed health care assistance amounting affected by natural disaster, PT Angkasa Pura to Rp 30,517,932,999, while in 2019 alone the I (Persero) activelyt provides assistance for assistance reached Rp 4,899,194,549. The victims of natural disasters, such as flood, assistance was realized in the form of several fire, landslide, earthquake, volcanic eruption, activities such as mobile health services, and so on. Until 2019, PT Angkasa Pura I mass circumcision program, cataract surgery, (Persero) has distributed funds amounting free medical treatment, community service, to Rp8,157,300,324 for natural disaster victims facilities and infrastructure assistance in various regions in Indonesia. In 2019 alone, health agencies, and construction of health PT Angkaa Pura I (Persero) has distributed facilities around business area of PT Angkasa Rp317,898,000 for earthquake victim in North Pura I (Persero). Maluku and Ambon, natural disaster victims in Bantul, flood victims in Manado, Maros, d. Public Facilities and Infrastructure Sentani, and Samarinda and clean water Development Assistance assistance in Yogyakarta. PT Angkasa Pura I (Persero) supports the Ministry of SOE program to assist villages b. education Assistance through the development of public facilities The education assistance program of PT and infrastructure. This type of assistance Angkasa Pura I (Persero) includes formal is regularly carried out by PT Angkasa education facilities for students as well as Pura I (Persero). Until 2019, the company informal education related to entrepreneurial has disbursed funds amounting to Rp skills for the wider community. 50,939,569,649 in this sector, while the costs incurred specifically in 2019 amounted to Rp Until 2019, education assistance funds 10,463,197,368. Some assistances in public disbursed by PT Angkasa Pura I (Persero) facility and infrastructure sector in 2019 include amounted to Rp54,392,495,282, while in house renovation assistance, operational 2019, PT Angkasa Pura I (Persero) disbursed vehicle assistance in the traditional village funds amounting to Rp7,383,864,054 for of Bali, procurement of clean water facilities, the education sector. The assistance was assistance for waste processing facilities and realized through scholarship assistance, infrastructure, construction of supporting school equipment and supplies, infrastructure facilities, construction/renovation of social for teaching and learning activities, school agencies, construction of public restroom construction/renovation assistance, training in the tourist area around the airport, as well assistance to the community, and digital as assistance in the construction of tourism library assistance in Balikpapan, Yogyakarta, supporting facilities around the working area Banjarmasin and Kupang. of PT Angkasa Pura I (Persero).

c. Health Care Assistance Since 2012, PT Angkasa Pura I (Persero) has focused on providing assistance on health for mothers and toddlers with the motto “Healthy Moms & Kids, Strong Nation”. To support the assistance for community health, PT Angkasa Pura I (Persero) launched Mobile Health Care Service Program that benefited not only mothers and toddlers, but also the public who require assistance in the health sector.

PT Angkasa Pura I (Persero) 464 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

e. Assistance for Religious Facilities g. Social Assistance In providing community assistance, PT Social assistance represents a variety of Angkasa Pura I (Persero) also takes into activities carried out by PT Angkasa Pura account the community needs, including the I (Persero) to help community residing need for adequate and comfortable religious around the working area, especially for facilities. In order to improve public facility, poverty alleviation. Until 2019, the Company until 2019 the total assistance distributed by PT has disbursed funds amounting to Rp Angkasa Pura I (Persero) in this sector reached 31,389,206,254 for social assistance, while in Rp45,336,405,910. The Company provided 2019 alone social assistance that has been assistance amounting to Rp 6,522,727,042 for provided amounted to Rp 9.48,178,560. Social the construction and renovation of religious assistance activities were carried out by PT facilities around the Company’s working area Angkasa Pura I (Persero) in 2019 in the form in 2019. of free basic supplies, construction of social support facilities, ‘SOE’s Serving the Nation’ It is expected that the assistance program activities in Boyolali, development of tourist would raise the awareness of the community destination, as well as infrastructure and not only to the business relations sector, facilities assistance and training to MSME but also the presence of PT Angkasa Pura I actors around the work area PT Angkasa Pura (Persero). I (Persero). f. Conservation Program h. Disbursement of Community Development PT Angkasa Pura I (Persero) realizes that Fund airport operations have direct and indirect In general, the fund disbursed by PT impacts on the environment, ranging from Angkasa Pura I (Persero) for the Community air pollution, noise, to widespread conversion Development Program is presented in the in land use. For this reason, the Company following table: needs to contribute back to conservation, especially in the areas around airports and surrounding communities. Assistance for nature conservation until 2019 amounted to Rp 616,125,000, while assistance during 2019 amounted to Rp 6,787,199. Nature conservation activities in 2019 include planting mangroves, transplanting coral reefs, supplying pots and trembesi trees, constructing tourism facilities, and other conservation assistance.

Community Development Fund Disbursement in 2019

Realization of Realization of Realization in 2019 Assistance Type Accumulation Until 2018 Accumulation Until 2019 (thousand rupiah) (thousand rupiah) (thousand rupiah)

Natural Disaster 7,839,402 317,898 8,157,300

Education and Training 47,013,631 7,378,864 54,392,495

Education and Training 25,618,738 4,899,194 30,517,932

Public Facilities 40,476,372 10,463,197 50,939,569

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 465 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Community Development Fund Disbursement in 2019

Realization of Realization of Realization in 2019 Assistance Type Accumulation Until 2018 Accumulation Until 2019 (thousand rupiah) (thousand rupiah) (thousand rupiah)

Religious Facilities 38,813,678 6,522,727 45,336,405

Natural Conservation 6,171,074 616,125 6,787,199

Sosial Assistance 21,931,028 9,458,178 31,389,206

Coaching Grants 2,577,954 - 2,577,954

BUMN Peduli 10,428,992 - 10,428,992

Total 200,870,872 39,656,183 240,527,056

i. fostered Village Since 2010, PT Angkasa Pura I (Persero) the community in Bobung Village in industry has developed Bobung Village, Patuk Sub- and trade sectors. Financial assistance for District, Gunung Kidul Regency to improve the target village was disbursed through the the economic welfare of the local community Partnership Program to support the business and develop the potential of the villagel. Until activities of the community who generally 2019, the assistance provided by PT Angkasa work as batik and wood artisans. Details of the Pura I (Persero) to Bobung Village amounted funds provided for the partnership program to Rp Rp3.675.000.000 while in 2019 alone the in Bobung Village in each sector from 2010 to assistance reached Rp210.000.000. Most of 2019 are as follows. the funds provided in 2019 was used to assist

Amount of Fund Disbursement for Fostered Village of Bobung During 2010-2019

Sector Total (Rp) Fostered Partner Advanced Fostered Partner

Industry 2,805,000,000 70 20

Service 130,000,000 4 1

Trade 615,000,000 11 2

Fisheries 25,000,000 1 -

Animal Husbandry 100,000,000 3 -

Total 3,675,000,000 89 23

i. SOE’s Serving the Nation Program Every year, PT Angkasa Pura I (Persero) actively with other SOEs, namely PT Kawasan Industri participates in supporting the ‘SOE’s Serving Wijayakusuma (Persero), PT Perkebunan the Nation’ program. In 2019, this program Nusantara IX, and PT Perkebunan Nusantara covered the implementation of the ‘Students X in carrying out the ‘SOE’s Serving the Nation’ Get Acquinted With The Archipelago’ program program in 2019. Total realization of ‘SOE’s and the ‘Basic Needs Fulfillment’ program. Serving the Nation’ fund in 2019 amounted to PT Angkasa Pura I (Persero) collaborated Rp 3,450,000,000 with the following details:

PT Angkasa Pura I (Persero) 466 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

SOE Composition of Contribution (Rp)

PT Angkasa Pura I (Persero) 2,950,000,000

PT Kawasan Industri Wijayakusuma 250,000,000

PT Perkebunan Nusantara IX 0

PT Perkebunan Nusantara X 250,000,000

Total 3,450,000,000

STUDENTS GET ACQUINTED WITH THE BASIC NEEDS FULFILLMENT OF THE COMMUNITY ARCHIPELAGO PT Angkasa Pura I (Persero) is fully concern with The ‘Students Get Acquinted With The Archipelago’ the basic needs of community in accordance with program is a fixed program in the series of ‘SOE’s the SOE’s Serving the Nation’ program. In 2019, PT Serving the Nation’ programs carried out every Angkasa Pura I (Persero) conducted electrification year. Selection for this program was carried out and toilet construction, clean water assistance, in July 2019 in Semarang where 20 outstanding housing renovation, scholarships, and others. All students from high schools/ vocational high of these activities were carried by the Company schools and 3 students with special needs from as its contribution to the community and efforts special schools were recruited in the Central to improve the community’s surrounding Java Province. The program included a student environment. exchange program at North Sulawesi province to receive training related to journalism, defending the Nation, to the introduction of culture and art. Realization of costs incurred in conducting the ‘Student Get Acquinted With The Archipelago’ program in 2019 amounted to Rp 952,541,473.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 467 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Assistance to Meet the Basic Needs of the Community in 2019

Activity Realization of Fund (Rp)

Electrification and Toilets 894,351,000

Clean Water Assistance 223,000,000

Employee and Community House Renovation Assistance 1,188,604,000

Scholarships 250,000,000

Fair Price Market 795,722,450

Republic of Indonesia Anniversary Ceremony (Ceremonial 865,778,550 Fund)

5 Km Walk (Ceremonial Fund) 950,818,000

Other Community CSR Assistance In addition to Partnership Program and Company budgeted for Other Social CSR funds Community Development Program above, PT amounted to Rp 20,269,106,556 and has realized a Angkasa Pura I (Persero) also conducted other budget of Rp 12,640,703,852. Realization of the cost CSR assistance in 2019 as adjusted to the latest of other community CSR activities in 2019 includes conditions and needs of the community. In the the following: Company Work Plan & Budget (RKAP) 2019, the

Assistance to Meet the Basic Needs of the Community in 2019

Activity Name Realization of Fund (Rp)

Free Homecoming Program 3,911,883,870

BTT, Cargo and Ticketing Training 458,968,601

Palliative Training 125,000,000

Electrification at NTT 138,000,000

BHUN Foundation 1,000,000,000

Mushroom and Eel Cultivation Training 139,518,600

Scholarships for residents affected by Yogyakarta International Airport – 446,112,500 Kulon Progo construction

Assistance for natural disaster victims (Tsunami in Banten & Earthquake in 222,557,700 North Sulawesi)

Energy-Saving Furnace Program 481,248,789

Counter construction of Dekranasda Bali as fostered partner 156,950,000

Other Assistance 5,560,463,792

Total CSR Assistance 12,640,703,852

PT Angkasa Pura I (Persero) 468 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

PT Angkasa Pura I (Persero) prepares budget funds from revolving funds related to the amount of for corporate responsibility activities in the social credit returned by the debtors, while funds for sector into three categories, namely Partnership the Community Development Program Expense Program Expense, Community Development and CSR Expenses are obtained from the budget Program Expense and CSR Expense. Funds for allocated by the Company. the Partnership Program Expense are obtained

Partnership and Community Development Program and CSR Expenses in 2019

Description Budget in 2019 (Rp)

Partnership Program Expense 30,502,936,000

Community Development Program Expense 39,661,643,500

CSR Expense 20,269,106,557

Total 90,433,686,057

Description of Achievement of Corporate • Enhance the competencies of the Social Responsibility in Social and community, especially in the field of Community Development entrepreneurship and other professions, Benefits for Stakeholders and the Company for example security training at Yogyakarta Through its various approaches, the Partnership International Airport, mechanical training and Community Development Program has at Jenderal Ahmad Yani International been able to increase the living standards of Airport in Semarang, etc. communities surrounding the Company’s work • Improve the quality of public and social areas. The Partnership Program has been able to facilities for the community. improve the economic activities of the community, especially small businesses in developing their 2. Benefits for Students businesses so that they have a higher level of • Foster and develop the youth to be smart economic capability. On the other hand, the and responsible. Community Development Program has assisted the community to fulfill their basic living needs, 3. Benefits for PT Angkasa Pura I (Persero) either in terms of clothing, food, shelter and • Implement synergies between SOEs in individual capacity improvement through various CSR activities as a responsibility to the other educational and social empowerment shareholders programs. The Social Responsibility Program • Expand networks directly with other implemented by PT Angkasa Pura I (Persero) is agencies, including Tourism Department, expected to provide benefits to stakeholders as Health Department, Education follows: Department, PT Jasa Raharja (Persero), 1. Benefits for the Community and other agencies. • Help improve the standard of living of • Build positive communication with communities, especially people of the airport service users and beneficiaries middle to lower economic status of the Partnership and Community Development Program.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 469 Performance Overview Report from the Board of Commissioners Company Profile and the Board of Directors

Benefits for Sustainable Development Awards As a State-Owned Enterprise, PT Angkasa Due to the effective implementation of corporate Pura I (Persero) seeks to implement social responsibility activities in social development responsibility activities in synergy with the from year to year, PT Angkasa Pura I (Persero) Sustainable Development Goals (SDGs) adopted has received various awards and appreciations by the Government of Indonesia. Based on the from several institutions. This achievement is accumulated realization, the largest portion of a motivation for PT Angkasa Pura I (Persero) to social responsibility costs disbursed by PT Angkasa continue to provide positive contributions and Pura I have been on education. In addition, the benefits to the surrounding community. Company also contributed to the Sustainable Development Goal Number 4, namely Ensuring The awards received by PT Angkasa Pura I (Persero) Inclusive and Quality Education. in 2019 can be seen in the following table:

Award Organizer

Denpasar CSR (DCSR) Award 2018-2019 Mayor of Denpasar

Best Community Empowerment (Balkondes Bigaran) Manajemen CBT Nusantara

ICSB Indonesia Presidential Award in the Business Practitioner International Council for Small Business (ICSB) category Indonesia

PT Angkasa Pura I (Persero) 470 Laporan Tahunan 2019 Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 471 OJK Reference No. 29/POJK.04/2016

Criteria Description Page

I Summary of Important Financial Data

1 Annual Report should be presented in the printed format and in electronic document copy. √

2 The printed version of the Annual Report should be printed on light-colored paper of line quality, in A4 size, √ bound and can be reproduced in good quality.

3 The Annual Report presented in electronic document format is the Annual Report converted into pdf √ format.

II Content of Annual Report

1 General Provision

a Annual Report should contain at 1. Summary of key financial information; 14 least the following information: 2. Stock information (if any); 20 – 23

3. The Board of Directors report; 29 – 33

4. The Board of Commissioners report; 25 – 28

5. Profile of Issuer or Public Company; 36 – 170

6. Management discussion and analysis; 170 – 259

7. Corporate governance applied by the Issuer or Public Company; 260 – 403

8. Corporate social and environmental responsibility of the Issuer or 216 - 227 Public Company;

9. Audited annual report; and 484

10. Statement that the Board of Directors and the Board of 482 - 483 Commissioners are fully responsible for the Annual Report.

b Annual Report may present the information in form of images, charts, tables, and diagrams are presented √ by mentioning the title and/or clear description, that is easy to read and be understood.

2 Description of Content of Annual Report

a Summary of Key Financial Summary of Key Financial Information contains financial information Information presented in comparison with previous 3 (three) fiscal years or since commencement of business if the issuers or the Public Company commencing the business less than 3 (three) years, at least contain:

1. Income/sales; 16

2. Gross profit; 16

3. Profit (loss); 16

4. Total profit (loss) attributable to equity holders of the parent 17 entity and non-controlling interest;

5. Total comprehensive profit (loss); 16

6. Total comprehensive profit (loss) attributable to equity holders of 17 the parent entity and non- controlling interest;

7. Earning (loss) per share; 17

8. Total assets; 14

PT Angkasa Pura I (Persero) 472 Laporan Tahunan 2019 Criteria Description Page

9. Total liabilities; 15

10. Total equities; 15

11. Profit (loss) to total assets ratio; 17

12. Profit (loss) to equities ratio; 17

13. Profit (loss) to income ratio; 17

14. Current ratio; 17

15. Liabilities to equities ratio; 18

16. Liabilities to total assets ratio; and 18

17. Other information and financial ratios relevant to the Issuer or 18 - 19 Public Company and type of industry. b Stock information Stock information (if any) contains at least: 20

1. Shares issued for each three-month period in the last 2 (two) No listing of fiscal years (if any), at least covering: shares

a Number if outstanding shares; No listing of shares

b Market capitalization based on the price at the Stock No listing of Exchange where the shares listed on; shares

c Highest share price, lowest share price, closing share price at No listing of the Stock Exchange where the shares listed on; and shares

d Share volume at the Stock Exchange where the shares listed No listing of on. shares

2. In the event of corporate actions, including stock split, reverse 20 stock, dividend, bonus share, and change in par value of shares, then the share price referred to in point (1), should be added with explanation on:

a Date of corporate action; No corporate action

b Stock split ratio, reverse stock, dividend, bonus shares, and No change in par value of shares; corporate action

c Number of outstanding shares prior to and after corporate No action; and corporate action

d Share price prior to and after corporate action. No corporate action

3. In the event that the company’s shares were suspended and/ No or delisted from trading during the year under review, then the suspension/ Issuers or Public Company should provide explanation on the delisting reason for the suspension and/or delisting; and

4. In the event that the suspension and/or delisting as referred to No in point 3) was still in effect until the date of the Annual Report, suspension/ then the Issuer or the Public Company should also explain delisting the corporate actions taken by the company on resolving the suspension and/or delisting.

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c The Board of Directors The Board of Directors Report should at least contain the following items: 29-33 Report 1. The performance of the Issuer or Public Company, at least covering:

a Strategy and strategic policies of the Issuer or Public Company; 30 - 31

b Comparison between achievement of results and targets; and 31

c Challenges faced by the Issuer or Public Company; 31

2. Description on business prospects; 32

3. Implementation of good corporate governance by Issuer or Public Company; 32 and

4. Changes in the composition of the Board of Directors and the reason behind (if 33 any).

d Laporan direksi The Board of Commissioners Report should at least contain the following items: 25-28

1. Assessment on the performance of the Board of Directors in managing the 26 Issuer or the Public Company;

2. Supervision on the implementation of the strategy of the Issuer or Public 26 Company;

3. View on the business prospects of the Issuer or Public Company as established 27 by the Board of Directors;

4. View on implementation of the corporate governance by the Issuer or Public 28 Company;

5. Changes in the composition of the Board of Commissioners and the reason 28 behind (if any); and

6. The frequency and procedure of providing advice to members of the Board of 27 Directors.

e Profile of the Issuer or Profile of the Issuer or Public Company should cover at least: 36 – 170 Public Company 1. Name of Issuer or Public Company, including change of name, reason of 36 change, and the effective date of the change of name during the year under review;

2. Access to Issuer or Public Company, including branch office or representative office, where public can have access of information of the Issuer or Public Company, which include;

a Address; 37 167 - 169

b Telephone number; 37 167 - 169

c Facsimile number; 37 167 - 169

d e-mail address; and 37 167 - 169

e Website address; 37 167 - 169

3. Brief history of the Issuer or Public Company; 39 - 41

4. Vision and mission of the Issuer or Public Company; 49 - 50

5. Line of business according to the latest Articles of Association, and types of 51 - 52 products and/or services produced;

6. Structure of organization of the Issuer or Public Company in chart form, at 66 - 67 least 1 (one) level below the Board of Directors, with the names and titles;

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7. The Board of Directors profiles include;

a Name and short description of duties and functions; 74 - 81

b Latest photograph; 74 - 81

c Age; 74 - 81

d Citizenship; 74 - 81

e Education; 74 - 81

f History position, covering information on: 74 - 81

1. Legal basis of appointment as member of the Board of 74 - 81 Directors to the said Issuer or Public Company;

2. Dual position, as member of the Board of Directors, 74 - 81 member of the Board of Commissioners, and/or member of committee, and other position (if any); and

3. Working experience and period in and outside the Issuer 74 - 81 or Public Company;

g Competency enhancement education and/or training 159 program for member of the Board of Directors during the year under review (if any); and

h Disclosure of affiliation with other members of the Board 340 of Directors, members of the Board of Commissioners, and major shareholders (if any) including name of the affiliated party;

8. The Board of Commissioners profiles, at least include;

a Name; 68 – 73

b Latest photograph; 68 – 73

c Age; 68 – 73

d Citizenship; 68 – 73

e Education; 68 – 73

f History position, covering information on: 68 – 73

1. Legal basis for the appointment as member of the Board 68 – 73 of Commissioners who is not Independent Commissioner at the said Issuer or Public Company;

2. Legal basis for the first appointment as member of 68 – 73 the Board of Commissioners who also Independent Commissioner at the said Issuer or Public Company;

3. Dual position, as member of the Board of Commissioners, 68 – 73 member of the Board of Directors, and/or member of committee and other position (if any); and

4. Working experience and period in and outside the Issuer 68 – 73 or Public Company;

g. Competency enhancement education and/or training 158 program for member of the Board of Commissioner during the year under review (if any);

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h Affiliation with other members of the Board of Commissioners, and 339 major shareholders (if any) including name of the affiliated party; and

i Statement of independence of Independent Commissioners in the event 298 that the Independent Commissioner has been appointed more than 2 (two) periods (if any).

9. In the event that there were changes in the composition of the Board of √ Commissioners and/or the Board of Directors occurring between the period after year-end until the date the Annual Report submitted, then the last and the previous composition of the Board of Commissioners and/or the Board of Directors shall be stated in the Annual Report;

10. Number of employees and description of distribution of education level and 95 - 100 age of the employee in the year under review;

11. Names of shareholders and ownership percentage at the end of the fiscal year. Including:

a Shareholders having 5% (five percent) or more shares of Issuer or Public 101 Company;

b Commissioners and Directors who own shares of the Issuer or Public 101 Company; and

c Groups of public shareholders, or groups of shareholders, each with less 101 than 5% (five percent) ownership shares of the Issuer or Public Company;

12. Number of shareholders and ownership percentage at the end of the fiscal 101 year, based on:

a Ownership of local institutions; Not Relevant

b Ownership of foreign institutions; Not Relevant

c Ownership of local individual; and Not Relevant

d Ownership of foreign individual; Not Relevant

13. Information on major shareholders and controlling shareholders the Issuer 101 or Public Company, directly or indirectly, and also individual shareholder, presented in the form of scheme or diagram;

14. Name of subsidiaries, associated companies, joint venture controlled by 102 - 115 Issuer or Public Company, with entity, percentage of stock ownership, line of business, total assets and operating status of Issuer or Public Company (if any); for subsidiaries, include the addresses of the said subsidiaries;

15. Chronology of share listing, number of shares, par value, and bid price from 116 - 123 the beginning of listing up to the end of the financial year, and name of Stock Exchange where the Issuer or Public Company shares are listed;

16. Chronology of securities listing in addition to the said security in point 15), 124 - 125 which at least should contain the name of the Securities, year of issuance, date of maturity, bid price, and rating of the securities (if any);

17. Name and address of capital market supporting institutions and/or professionals; 126 - 127

18. In the event that the capital market supporting professionals provide 388 services on a regular basis to the Issuer or Public Company, the information on the services provided, fee and period of assignment should be disclosed, and

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19. Awards and/or certification of national and international scales bestowed on the Issuer or Public Company during the last fiscal year (if any), covering:

a Name of award and/or certification; 129 – 146

b Organization/institution that gives the awards; and 129 – 146

c Award/certificate validity period (if any); 129 – 146 f Management Discussion Management Analysis and Discussion Annual should contain 170 – 259 and Analysis discussion and analysis on financial statements and other material information emphasizing material changes that occurred during the year under review, at least including:

1. Operational review per business segment, according to the type of industry of the Issuer or Public Company including:

a Production, including process, capacity, and growth; 188 - 197

b Income/sales; and 188 - 197

c Profitability 188 - 197

2. Comprehensive financial performance analysis which includes a 198 - 230 comparison between the financial performance of the last 2 (two) fiscal years, and explanation on the causes and effects of such changes, among others concerning;

a Current assets, non-current assets, and total assets; 201 - 209

b Short term liabilities, long term liabilities, total liabilities; 209 - 216

c Equities; 217

d Sales/operating revenues, expenses and profit (loss), other 222 - 223 comprehensive revenues, and total comprehensive profit (loss); and

e Cash flows; 228 - 230

3. The capacity to pay debts by including the computation of 233 relevant ratios;

4. Account receivable collectability of the Issuer or Public Company, 234 including the computation of the relevant ratios;

5. Capital structure and management policies concerning capital 234 structure, including the basis for determining the said policy;

6. Discussion on material ties for the investment of capital goods, including the explanation on at least:

a The purpose of such ties; 235

b Source of funds expected to fulfill the said ties; 235

c Currency of denomination; and 235

d Steps taken by the Issuer or Public Company to protect the 235 position of a related foreign currency against risks;

7. Discussion on investment of capital goods which was realized in the last fiscal year, at least include:

a Type of investment of capital goods; 236

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 477 Criteria Description Page

b Objective of the investment of capital goods; and 236

c Value of the investment of capital goods; 236

8. Material information and facts that occurring after the date of the 236 - 237 accountant’s report (if any);

9. Information on the prospects of the Issuer or Public Company in 241 connection with industry, economy in general, accompanied with supporting quantitative data if there is reliable data source;

10. Comparison between target/projection at beginning of year and result (realization), concerning:

׎ - 241גIncome/sales; 2 a

׎ - 241ג Profit (loss); 2 b

׎ - 241ג Capital structure; or 2 c

d Others that deemed necessary for the Issuer or Public 238 - 241 Company;

11. Target/projection at most for the next one year of the Issuer or Public Company, concerning:

245 - גIncome/sales; 24 a

245 - ג Profit (loss); 24 b 245 c Capital structure; or

Dividend policy; 24׏ d

e Or others that deemed necessary for the Issuer or Public 241 - 245 Company;

12. Marketing aspects of the company’s products and/or services the Issuer or Public Company, among others marketing strategy and 182 - 187 market share;

13. Description regarding the dividend policy during the last 2 (two) fiscal years, at least:

ו Dividend policy; 24 a

ז The date of the payment of cash dividend and/or date of 24 b distribution of non-cash dividend;

ז Amount of cash per share (cash and/or non cash); and 24 c

ז Amount of dividend per year paid; 24 d

14. Use of proceeds from Public Offerings, under the condition of:

ז During the year under review, on which the Issuer has the 24 a obligation to report the realization of the use of proceeds, the the realization of the cumulative use of proceeds until the year end should be disclosed, and

b In the event that there were changes in the use of proceeds No change as stipulated in the Regulation of the Financial Services in the use of funds Authority on the Report of the Utilization of Proceeds from Public Offering, the Issuer should explain the said changes;

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15. Material information (if any), among others concerning investment, 249 expansion, divestment, acquisition, debt/capital restructuring, transactions with related parties and transactions with conflict of interest that occurred during the year under review, among others include:

a Transaction date, value, and object; Not applicable

b Name of transacting parties; Not applicable

c Nature of related parties (if any); Not applicable

d Description of the fairness of the transaction; and Not applicable

e Compliance with related rules and regulations; Not applicable

בChanges in regulation which have a significant effect on the Issuer or Public 25 .16 Company and impacts on the company (if any); and

אChanges in the accounting policy, rationale and impact on the financial 25 .17 statement (if any);

ד40 – אg Corporate Governance Corporate Governance of the Issuer or Public Company contains at least: 26 of the Issuer or Public 1. The Board of Directors, covering: Company בא3ژ٫ژב The tasks and responsibilities of each member of the Board of Directors; 3׏ a

ז Statement that the Board of Directors has already have board of manual 30 b or charter;

׎ג3 ٫ ז Procedure, legal basis, structure, and amount of remuneration of each 33 c member of the Board of Directors, relation between remuneration and performance of the Issuer or Public Company;

ה32 – ד The policies and the frequency of the meeting of the Board of Directors 31 d including the joint meeting with Board of Commissioners, and attendance of member of the Board of Directors in the said meeting;

e Information on the resolution from the AGM of the previous 1 (one) year, covering:

א29 ٫ ׎זAGM resolutions that were realized during the fiscal year, and 2 1

א29 ٫ ׎זExplanation for the unrealized resolution; 2 2

f Information regarding the AGM resolution in the year under review, including:

ח27 ٫ וAGM resolutions that were realized during the fiscal year; and 26 1

2 Explanation for the unrealized resolution; and

ח27 ٫ ו Assessment on the performance of the committee under the Board of 26 g Directors;

וThe Board of Commissioners, among other include: 30 .2

ג Duties and responsibilities of the Board of Commissioners; 26 a

ב Statement that the Board of Commissioner has already have the board 29 b manual or charter;

ו33 - ה Procedure, legal basis, structure, and amount of remuneration for each 33 c member of Board of Commissioners;

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 479 Criteria Description Page

ד׎׎ - 30ב Policies and frequency of meeting of the Board of d Commissioners, including meeting with the Board of Directors, and attendance of each member of the Board of Commissioners in the said meetings;

e Policies of the Issuer or Public Company regarding the assessment on the performance of the Board of Directors and Board of Commissioners and the implementation, at least covering:

ًו30 – דProcedure for the implementation of performance 30 1 – חאב זאב ;assessment ًו30 – ד30 2 Criteria for assessment; and חאב – זאב חאב ًהAssessor; 30 3

ו׎ב Assessment on the performance of the committees under the f Board of Commissioners; and

g In the event that the Board of Commissioners does not establish the Nomination and Remuneration Committee, than should contain at least:

דReason no to establish the committee; and 36 1

והב Procedure of nomination and remuneration performed in 2 the year under review;

בSharia Supervisory Board, for Issuer or Public Company that 34 .3 conduct business based on sharia law, as stipulated in the articles of association, at least containing:

Not a Name; applicable Not b Duty and responsibility of Sharia Supervisory Board; and applicable

c Frequency and procedure in providing advice and suggestion, Not as well as the compliance of Sharia Principles by the Issuer or applicable Public Company in the Capital Market;

4. Audit Committee, among others covering: 344 - 353

וג3 - ה Name and position in the committee; 34 a

וג3 - הAge; 34 b

וג3 - הCitizenship; 34 c

וג3 - ה Education background; 34 d

e History of position, including:

דגב ;Legal basis for appointment as member of the committee 1

וג3 - הDual position, as member of Board of Commissioners, 34 2 member of Board of Directors, and/or member of committee, and other position (if any); and

וג3 - הWorking experience and period in and outside the Issuer 34 3 or Public Company;

וג3 - ה Period and terms of office of the member of Audit 34 f Committee;

ח34 - ז Statement of independence of the Audit Committee; 34 g

א35 - ח Policies and implementation of the frequency of meeting 34 h of Audit Committee and attendance of member of Audit Committee;

i Education and/or training during the year under review (if 160 any); and

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j The activities of the Audit Committee in the year under 352 - 353 review, in accordance with the Audit Committee Charter;

5. Other committee of Issuer or Public Company formed to support 353 - 367 the function and duty of the Board of Directors and/or the Board of Commissioners, such as Nomination and Remuneration Committee, containing:

זדב - ו Name and position in the Committee; 35 a

זדב - וAge; 35 b 35 - זדב ו ;Citizenship c זדב - ו35 d Education background;

e History of position, including:

הדב Legal basis for the appointment as member of the .1 committee;

זדב - וDual position, as member of Board of Commissioners, 35 .2 member of Board of Directors, and/or member of committee and other position (if any); and

זדב - וWorking experience and period in and outside the Issuer 35 .3 or Public Company;

זדב - ו Period and terms of office of the member of committee; 35 f

הדב - ג Description of duty and responsibility; 35 g

ג Statement that the Committee has already have the Charter; 35 h

ח Statement of independence of the Committee; 35 i

א׎ - 36ה Policies and frequency of meeting of the committee, and 3 j attendance of each member of the committee in the said meetings;

k Education and/or training during the year under review (if 160 any); and

ד36 - אl Brief description on the activities of the committee; 36

6. Corporate Secretary, including:

חהב ;Name a

חהב ;Domicile b

c History of position, including:

חהב ;Legal basis for the appointment as Corporate Secretary 1 and

חהב Working experience and period in and outside the Issuer 2 or Public Company;

חהב ; Education background d

ח Education and/or training during the year under review; and 161, 36 e

ח Brief description on the implementation of duties of the 36 f Corporate Secretary in the year under review;

7. Internal Audit Unit, among others including:

בוב ; Name of Head of Internal Audit Unit a

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 481 Criteria Description Page

b History of position, including:

בוב Legal basis for the appointment as Head of Internal Audit .1 Unit; and

2. Working experience and period in and outside the Issuer בוב or Public Company;

ד37 - ג Qualification or certification as internal auditor (if any); 37 c

d Education and/or training during the year under review; 162 - 163

׎ו Structure and position of Internal Audit Unit; 3 e

׏ו Description of duties and responsibilities; 3 f

׏ו Statement that the Internal Audit Unit has already have 3 g Internal Audit Unit charter; and

ו37 - ד Brief description on the implementation of duty of Internal 37 h Audit Unit during the year under review;

8. Description on internal control system adopted by the Issuer or Public Company, at least covering:

ה38 - ב Financial and operational control, and compliance to the 38 a other prevailing rules; and

ו Review on the effectiveness of internal control systems; 38 b

9. Risk management system implemented by the company, at least includes:

ח General description about the company’s risk management 37 a system the Issuer or Public Company;

׏ז׎ - 3ז Types of risk and the management; and 3 b

ב38 - א Review the effectiveness of the risk management system 38 c applied by the Issuer or Public Company;

10. Important cases faced by the Issuer or Public Company, subsidiaries, current member of the Board of Commissioners and the Board of Directors, among others include:

א39 - ח Substance of the case/claim; 38 a

א39 - ח Status of settlement of case/claim; and 38 b

א39 - ח Potential impacts on the condition of the Issuer or Public 38 c Company;

בInformation about administrative sanctions imposed to Issuer or 39 .11 Public Company, member of the Board of Commissioners and the Board of Directors, by the Capital Market Authority and other authorities during the last fiscal year (if any);

12. Information about codes of conduct of the Issuer or Public Company. Includes:

ב Key points of the code of conduct; 39 a

ג Socialization of the code of conduct and enforcement; and 39 b

ג Statement that the code of conduct is applicable for the 39 c Board of Commissioners , the Board of Directors, and employees of the Issuer or Public Company;

PT Angkasa Pura I (Persero) 482 Laporan Tahunan 2019 Criteria Description Page

13. Information about corporate culture (if any) of the Issuer or Public 50 Company;

זDescription of employee or management stock ownership 24 .14 program of the Issuer or Public Company, among others contains:

a Number of share and/or option; N/A

b Period; N/A

c Requirement for eligible employee and/or management; and N/A

d Exercised price; N/A

15. Description of whistleblowing system at the Issuer or Public Company (if any), among others include:

ה Mechanism for violation reporting; 39 a

ו Protection for the whistleblower; 39 b

ח Handling violation reports; 39 c

ז Unit responsible for handling of violation report; and 39 d

e Results from violation report handling, at least includes:

׎׎ג Number of complaints received and processed during the 1 fiscal year; and

׎׎ג ;Follow up of complaints 2

16. Implementation of the Guidelines of Corporate Governance for Public Companies for Issuer issuing Equity-based Securities or Public Company, including:

ד׎׏ - 40ג Statement regarding recommendation that have been a implemented; and/or

ד׎׏ - 40ג Description of recommendation that have not been b implemented, along with the reason and alternatives of implementation (if any); h Social and Environmental 1. Information on social and environmental responsibility of the Responsibility of the Issuer or Issuer or Public Company that covers policies, types of programs, Public Company ans cost, among others related to:

ג׎ - 42א Environment, among others: 4 a

אThe use of environmentally friendly and recyclable 42 1 materials and energy;

אThe waste treatment systems of the Issuer or Public 42 2 Company;

אMechanism for filing complaint on environmental issues; 44 3 and

גEnvironmental certifications; 42 4

׏ב4 - ד Employment practices, occupational health and safety, 42 b among others:

וGender equality and equal work opportunity; 42 1

וWork and safety facilities; 42 2

׏בEmployee turnover; 4 3

וWork incident rate; 42 4

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וEducation and/or training; 42 5

זRemuneration; and 42 6

חMechanism for filing complaint on employment issues; 42 7

׎וג-הדג : Social and community development, among others c

הThe use of local work forces; 42 1

ו46 - בEmpowerment of local communities among others 46 2 through the use of raw material produced by the community or providing education;

זImprovement of public social facilities and infrastructure; 46 3

זOther form of donation; and 46 4

גDissemination of the policies and procedures of anti- 39 5 corruption at the Issuer or Public Company, and training on anti-corruption (if any);

d Products and/or services responsibilities, among others; 218-219

א44 - אConsumers’ health and safety; 43 1

2 Products and/or services information; and 52

ו44 - אFacilities, number, and resolution of consumer complaint. 44 3

2. In the event that the Issuer or Public Company imparts √ information on social and environmental responsibility as referred to in point 1) in separate report such as corporate social responsibility report, or sustainability report, the the Issuer or Public Company is excluded from disclosing information on social and environmental responsibility in Annual Report; and

3. The said report in point 2) should be submitted to the Financial √ Service Authority along with the Annual Report.

׎׎ד i Audited Annual Financial Financial Statement included in Annual Report should be prepared Statement in accordance with the Financial Accounting Standards in Indonesia and audited by the Accountant. The said financial statement should be included with statement of responsibility for financial report such as stipulated in the legislations in the Capital Markets sector governing the responsibility of the Board of Directors on the financial report of the legislations in the Capital Markets sector governing the periodic reports of securities company in the event the issuer is a Securities Company; and

חח4 - זחj Letter of Statement of the Board Letter of statement of the Board of Directors and the Board of 4 of Directors and the Board Commissioners regarding the responsibility for Annual Reporting of Commissioners regarding should be prepared according to the format of letter of statement the Responsibility for Annual of member of Board of Directors and the Board of Commissioners Reporting regarding the responsibility for Annual Reporting as attached in the Attachment, which is an integral part of this Circulation Letter of the Financial Services Authority.

PT Angkasa Pura I (Persero) 484 Laporan Tahunan 2019 Annual Report Award Criteria

Criteria Description Page

Umum

The annual report is presented in proper √ and correct Bahasa Indonesia and is recommended to be presented in English as well

The annual report is printed in fine quality, √ with easy-to-read font types and sizes

The annual report presents clear identity of Company name and the year of the Annual Report are shown in: √ the company 1. Front cover; 2. Side margin; 3. Back cover; and 4. Each page.

The annual report is available at company Including current annual report and the annual reports from at √ website least the last four (4) years.

Key Financial Highlights

Information on Company’s operating results The information encloses, among others: with comparisons of 3 (three) fiscal years 1. Sales/revenues; 16 or since the starting of the company if the 2. Profit (loss): 17 business activities have run for less than three a. Attributable to the owner of the holding entity; and (3) years b. Attributable to non-controlling interest; 3. Total comprehensive profit (loss) and other comprehensive 16 income: a. Attributable to the owner of the holding entity; and b. Attributable to non-controlling interest; and 4. Profit (Loss) per Share. 17 Note: For a company with no subsidiaries, the company presents the profit (loss) and other profit (loss) and other comprehensive income in total.

Information on Company’s financial position The information encloses, among others: with comparisons of three (3) fiscal years 1. Total investments in associates; 14 or since the starting of the company if the 2. Total assets; 14 business activities have run for less than three 3. Total liabilities; and 15 (3) years 4. Total equity. 15

Financial ratios with comparisons of three The information encloses five (5) financial ratios that are 17 - 18 (3) fiscal years or since the starting of the common and relevant to company’s industry. company if the business activities have run for less than three (3) years

Information on stock price in tables and 1. Number of outstanding shares; 20 charts 2. The information in tables and charts covers: 20 a. Market capitalization by prices in Stock Exchange where the shares are listed; b. The highest, lowest, and closing price of shares; and c. Trading volume where the shares are listed. 3. Information in charts contains at least: 20 a. Closing price and share trading volume b. Trading volume where the shares are listed. For each quarter of the last two (2) fiscal years. Note: if the company shall disclose information on share prices and trading volume if such company does not have market capitalization.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 485 Criteria Description Page

Information on outstanding bonds, sukuk, The information covers: 21 - 24, or convertible bonds of the last two (2) fiscal 1. Number of outstanding bonds/sukuk/convertible bonds; 124 - 125 years 2. Interest rate/yield; 3. Maturity date; and 4. Bonds/sukuk rating in 2015 and 2016. Note: if the company shall disclose information on outstanding bonds, sukuk, or convertible bonds if such company does not have market capitalization.

Board of Commissioners and Board of Directors Reports

Board of Commissioners Report Containing the following: 1. Assessment on Board of Directors’ performance on company 26 management and the basis for the assessment; 2. Perspective on company business outlook set by Board of 27 Directors and its consideration basis; 3. Prospective on the implementation/management of 28 whistleblowing system (WBS) in the company and the role of Board of Commissioners in such WBS; and 4. Changes in Board of Commissioners’ composition and the 28 reason behind the change (if any).

Board of Directors Report Containing the following: 1. Analysis on company performance, which among others covers: a. Strategic policies; 30 b. Comparisons between realizations and targets; and 31 c. Challenges faced by the company and its settlement 31 measures. 2. Analysis on business outlook; 32 3. Development of the implementation of corporate 32 governance in the fiscal year; and 4. Changes in Board of Director’s composition and the reason 33 behind the change (if any)

Board of Directors and Board of Containing the following: Commissioners’ signatures 1. Signatures are given on separate sheets; 482 - 483 2. Statement of full accountability on the accuracy of the 482 - 483 annual report contents by Board of Directors and Board of Commissioners; 3. Signed by all members of Board of Commissioners and 482 - 483 Board of Directors by stating names and positions; and 4. Written explanation in separate letter from the person(s) Not concerned in the event that a member of Board of Relevant Commissioners or Board of Directors fails to sign the annual report, or written explanation in separate letter from the other member(s) in the event that the person(s) concerned fails to provide a written explanation.

Company Profile

Name and complete address of the company The information contains among others: name and address, 36 postal code, phone number(s), facsimile, e-mail, and website address.

Brief history of the company Consisting among others: date/year of establishment, name, 36 changes in company name (if any), and effective date for such changes in company name. Note: explanation shall be given in the event that the entity has never made any change to the name

Line of business Description of, among others: 1. Company’s business activities in accordance with the latest 51 articles of association; 2. Business activities engaged; and 51 3. Generated products and/or services. 52

PT Angkasa Pura I (Persero) 486 Laporan Tahunan 2019 Criteria Description Page

Organizational structure In a chart, consisting of names and positions, at least up to one 66-67 level under the Board of Directors.

Company Vision, Mission, and Culture Containing: 1. Company vision; 50 2. Company mission; 50 3. Explanation that the vision and mission have been 49 reviewed and agreed upon by Board of Directors/Board of Commissioners. 4. Statement on corporate culture adhered by the company. 50

Identity and brief CV of Board of The information encloses, among others: Commissioners members 1. Name; 68 - 73 2. Position and term of office (including position in the 68 - 73 company or other institutions); 3. Age; 68 - 73 4. Domicile; 68 - 73 5. Educations (Field of Study and Educational Institution); 68 - 73 6. Work experience (Position, Institution, and Term of Office); 68 - 73 7. History of the appointment (period and position) as Board of 68 - 73 Commissioners’ member since initial appointment.

Identity and brief CV of Board of The information encloses, among others: Commissioners members 1. Name; 74 - 81 2. Position and term of office (including position in the 74 - 81 company or other institutions); 3. Age; 74 - 81 4. Domicile; 74 - 81 5. Educations (Field of Study and Educational Institution); 74 - 81 6. Work experience (Position, Institution, and Term of Office); 74 - 81 7. History of the appointment (period and position) as Board of 74 - 81 Commissioners’ member since initial appointment.

Total number of employees (2 years’ The information encloses, among others: comparison) and data of competency 1. Number of employees for each organizational level; 96 development that reflects the opportunity for 2. Number of employees for each educational level; 97 every organizational level 3. Number of employees by employment status; 97 4. Data of undertaken employee competency developments 146-157 in fiscal year containing parties (Position level) attending the training, type of trainings, and purpose of trainings; and 5. Incurred costs for employee competency development in 163 the fiscal year.

Shareholder Competition Containing, among others: 1. Detailed name of shareholders covering 20 largest 101 shareholders and their shareholding percentage; 2. Details of shareholders and their shareholding percentage, 101 which include: a. Name of shareholders with 5% or more percent of shares; b. Public shareholding groups with their respective shareholding of less than 5%. 3. Name of Directors and Commissioners holding direct or 101 indirect shares and their percentages. Note: Explanation shall be given in the event of Directors and Commissioners do not hold direct or indirect shares.

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List of subsidiaries and/or associates In the form of table containing the following information: 1. Names of subsidiaries and/or associates; 102 2. Shareholding percentage; 102 3. Explanation on the subsidiaries and/or associates’ lines of 102 business; and 4. Explanation on the operational status of the subsidiaries and/ 102 or associates (in operation or has not yet operating).

Company group structure Company group structure in a chart describing subsidiaries, 128 associates, joint ventures, and special purpose vehicles (SPVs).

Share listing chronology (including private Containing, among others: placement) and/or share listing from the 1. The year of shares issuance, number of shares, shares par 20 initial listing to the end of fiscal year value, and share offering price for each of corporate action; 2. Number of shares listed following the corporate actions; 20 3. Name of stock exchange where the shares are listed. 20 Note: Explanation shall be given in the event of the company does not have share listing chronology.

Issuance and/or other securities listing Containing, among others: chronology from the initial listing to the end 1. Name of other securities, year of other securities issuance, 124 - 125 of fiscal year interest/yield rate, and the maturity date of other securities; 2. Other securities offering price; 124 - 125 3. Name of stock exchange where the other securities are 124 listed; and 4. Rating of securities. 124 - 125 Note: Explanation shall be given in the event of the company does not have other securities issuance and listing chronology.

Names and addresses of capital market The information encloses, among others: supporting institutions and/or professions 1. Name and address of Securities Administration Bureau 126 - 127 (BAE)/parties administrating company’s shares; 2. Name and address of Public Accounting Firm; and 126 3. Name and address of rating agency. 126

List of awards received in the last fiscal year The information encloses, among others: and/or certifications valid for the last fiscal 1. Name of awards and/or certificates; 129 - 146 year, both national and international-scale 2. Year of receipt; 129 - 146 3. Awarding and/or certifying agencies; and 129 - 146 4. Validity period (for certifications). 129 - 146

Names and addresses of subsidiaries and/or Containing the information about, among others: branch or representative offices (if any) 1. Names and addresses of subsidiaries; and 166 2. Names and addresses of branch/representative offices. 167 - 169 Note: explanation shall be given in the event that the entity does not have any subsidiaries/branches/representatives.

Information on Company Website Covering at least: 165 1. Information on shareholders to last individual owners; 2. Contain of the Code of Ethics; 3. Information on General Meeting of Shareholders (GMS) at least covering the agenda discussed in GMS, minutes of GMS, and important dates i.e. GMS announcement date, GMS summon date, GMS date, GMS minutes announcement date; 4. Separate Annual financial statements (last 5 years); 5. Board of Commissioners and Board of Directors Profiles; and 6. Charter of the Board of Commissioners, Board of Directors, Committees, and Internal Audit Unit.

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Educations and/or trainings for the Board Covering at least the following information (type and parties of Commissioners, Board of Directors, eligible to attend): Committees, and Internal Audit Unit. 1. Educations and/or trainings for the Board of Commissioners; 158 2. Educations and/or trainings for the Board of Directors; 159 3. Educations and/or trainings for Audit Committee; 160 4. Educations and/or trainings for Nomination and 160 Remuneration Committee; 5. Educations and/or trainings for Other Committees; 160 6. Educations and/or trainings for Corporate Secretary; and 161 7. Educations and/or trainings for Internal Audit Unit; 162 Attended in the fiscal year Note: Explanation shall be given in the event of there are no educations and/or trainings in the fiscal year.

Management Discussion and Analysis on Company Performance

Operational review per business segment Containing descriptions of: 1. Explanation of each business segment. 188 - 197 2. Performance of each business segment, among others: a. Productions; 188-192 b. Increase/decrease in business capacity; 191, 195 c. Sales/operating revenues; and 195 - 197 d. Profitability.

Description of company’s financial Analysis on financial performance containing comparison performance between current financial performance and previous year’s financial performance and causes for the increase/decrease (in narration and tables), among others concerning: 1. Current assets, non-current assets, and total assets; 201 - 209 2. Short-term liabilities, long-term liabilities, and total liabilities; 209 - 216 3. Equity; 217 - 221 4. Sales/revenues, expenses and profit (loss), other 222 - 228 comprehensive incomes and total comprehensive profit (loss); and 5. Cash flow. 228 - 230

Discussion and analysis on company solvency Explanation on: and liquidity by presenting ratios that are 1. Solvency for short- and long-term debts; and 233 relevant to company’s industry 2. Receivables collectability. 234

Discussion on capital structure and capital Explanation on: structure policy 1. Capital structure, consisting of interest-based debts and 234 equity; 2. Management policies on the capital structure (capital 234 structure policies); and 3. The basis for Capital structure policies. 234

Discussion on material commitments for Explanation on: capital goods investments (other than 1. The name of parties engaging in the commitment 235 funding commitment) in the last fiscal year 2. Purpose of the commitments; 236 3. Sources of funds expected to meet these commitments; 235 4. Currency used; and 235 5. Planned measures to protect the company from risks arising 235 from relevant currency position. Note: explanation shall be given in the event that the company does not have any commitments relating to capital investments in the last fiscal year.

Discussion on capital investments realized in Explanation on: the last fiscal year 1. Type of capital investments; 236 2. Purposes of the capital investments; and 236 3. Value of capital investment spent in the last fiscal year. 236 Note: explanation shall be given in the event that any capital investment realizations are nonexistent.

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Information on comparisons between The information encloses, among others: beginning of fiscal year’s targets and 1. Comparisons between beginning of year’s targets and 238 - 241 realizations, and expected targets or realizations; and projection for the coming year relating to 2. Expected targets or projection for the coming year. 241 - 245 revenue, profit, and other matters considered important to the company

Information and material facts occurring after Description of significant events after accountant’s reporting 245 accountant’s reporting date date including their effects on business performance and risks in the future. Note: explanation shall be given in the event that any significant events after accountant’s reporting date are nonexistent.

Description on company’s business outlook Description on company’s business outlook is related to 172 - 176 industry and economy in general accompanied by quantitative supporting data from trustworthy source of data.

Description on marketing aspect Description on marketing aspect on company products and/or 182 - 187 services, among others marketing strategies and market share.

Description on dividend policy and amount Containing descriptions of: וof cash dividends per share and amount of 1. Policy on dividend sharing; 24 וdividends per year announced or paid for the 2. Total dividends shared; 24 זlast two (2) fiscal years. 3. Amount of cash dividends per share; 24 זPayout ratio; and 24 .4 זDate of announcement and payment of cash dividends. 24 .5 For each year. Note: explanation shall be given in the event that any dividend sharing is nonexistent.

זEmployee and/or Management Stock Containing descriptions of: 24 Ownership Plan (ESOP/MSOP) carried out by 1. Total ESOP/MSOP shares and its realization; the company existing until the end of fiscal 2. Term; year 3. Requirements for entitled employees and/or management; and 4. Exercise price. Note: explanation shall be given in the event that the program concerned is nonexistent.

Realization of the use of proceeds from public Containing descriptions of: זoffering (in the event that the company still 1. Total proceeds; 24 חhas the obligation to report the proceed use 2. Planned use of the proceeds; 24 חrealization)* 3. Detailed use of the proceeds; 24 חBalance of proceeds; and 24 .4 חDate of GMS/GMB approval on changes in the use of 24 .5 proceeds (if any). Note: explanation shall be given in the event that there is no information regarding realization of the use of proceeds from public offering.

Information on material transactions Containing descriptions of: ׎ד2 - חcontaining conflicts of interest and/or 1. Name of affiliates and the nature of affiliation; 24 חtransactions with affiliates 2. Explanation on the fairness of transaction; 24 חReason behind the transaction; 24 .3 ׏ד׎ - 2דRealization of transactions in the last fiscal year; 2 .4 חCompany policy relating to review mechanism on 24 .5 transactions; and חCompliance with relevant regulations and provisions. 24 .6 Note: explanation shall be given in the event that any transaction concerned is nonexistent.

Description on regulatory changes having The description contains among others: ג25 - בsignificant impact on the company 1. Regulatory changes; and 25 ג25 - בTheir impacts (qualitative and quantitative) on the company 25 .2 (if significant) or statements stating that the impacts are insignificant. Note: explanation shall be given in the event that any regulatory changes having significant impacts on the company are nonexistent in the last fiscal year.

PT Angkasa Pura I (Persero) 490 Laporan Tahunan 2019 Criteria Description Page

Description on changes in accounting policies The description contains among others: ב25 - אapplied by the company in the last fiscal year 1. Changes in accounting policies; 25 ב25 - אTheir reasons; and 25 .2 בImpacts toward financial statements. 25 .3 Note: explanation shall be given in the event that any changes in accounting policies are nonexistent in the last fiscal year.

Information on business continuity Disclosure of information includes: גMatters which potentially inflict significant impact on company’s 25 .1 business continuity for the last fiscal year; גManagement assessment on matters in point 1; and 25 .2 גAssumptions used by the management in performing the 25 .3 assessment. Note: in the event that any matters which potentially inflict significant impact on company’s business continuity for the last fiscal year are nonexistent, the assumptions used as the basis for the management in assuring that such matters are nonexistent shall be disclosed.

Good Corporate Governance

Board of Commissioners description The description includes, among others: ד29 - גDescription of Board of Commissioners’ responsibilities; 29 .1 וAssessment on the performances of committees under the 30 .2 Board of Commissioners and the basis for such assessment; and בDisclosure of the Board Charter (guidelines and codes of 29 .3 conduct for Board of Commissioners).

Information on Independent Commissioners Covering, among others: ׎׎ב The criteria for Independent Commissioners appointment; and .1 ׎׎ב Statement of independency of each Independent .2 Commissioner.

Board of Directors description The description includes, among others: ג31 - בScopes of duties and responsibilities of each Board of Directors 31 .1 member; ׎בAssessment on the performances of committees under the 3 .2 Board of Directors (if any); and זDisclosure of the Board Charter (guidelines and codes of 30 .3 conduct for Board of Directors).

Assessment of the implementation of GCG Containing explanations on, among others: אfor fiscal year 2018 covering at least Board 1. Criteria used for the assessment; 33 בof Commissioners and Board of Directors 2. Assessing party; 33 בaspects. 3. Assessment score for each criteria; 33 ד33 - גRecommendation of the assessment results; and 33 .4 ד33 - גReasons on why the recommendations are/has not been 33 .5 implemented. Note: explanation shall be given in the event of the GCG implementation assessment for fiscal year 2016 is nonexistent.

Description of remuneration policy for Boards Containing, among others: הof Commissioners and Board of Directors 1. Disclosure of remuneration procedures to the determination for 33 the Board of Commissioners; זDisclosure of remuneration procedures to the determination for 33 .2 the Board of Directors; ו33 - הRemuneration structure which shows the remuneration 33 .3 components and amount of value per component for each Board of Commissioners’ member; ׎ג3 - חRemuneration structure which shows the remuneration 33 .4 components and amount of value per component for each Board of Directors’ member; חDisclosure of indicators for the determination of Board of 33 .5 Directors’ remuneration; and ח33 ,וDisclosure of performance bonus, non-performance bonus, and/ 33 .6 or shares option received by each Board of Commissioners’ and Board of Directors’ member (if any). Note: explanation shall be given in the event of performance bonus, non-performance bonus, and/or shares option received by each Board of Commissioners’ and Board of Directors’ member are nonexistent.

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Frequency and attendance rate in BOC The information encloses, among others: ,ד׎׏-30ב ;Meetings, BOD meetings, and BOC-BOD joint 1. Meeting date ד-32הmeetings 2. Meeting participants; and 31 3. Meeting agenda. For each BOC meeting, BOD meeting, and joint meeting.

Information on majority and controlling In schematic chart or diagram, that differs the main 101 shareholders, both direct and indirectly, to shareholders and controlling shareholders. individual holders Note: he main shareholder is the party which, either directly or indirectly, holds at least 20% (twenty percent) of the voting rights of all shares with voting rights issued by a company, but not a controlling shareholder.

Disclosure of affiliations among the members Containing, among others: אof Board of Directors, Board of Commissioners, 1. Affiliations among Board of Directors’ fellow members; 34 and Majority and/or Controlling Shareholders 2. Affiliations among Board of Directors members and Board of אCommissioners members; 34 3. Affiliations among Board of Directors members and Majority אand/or Controlling Shareholders; 34 4. Affiliations among Board of Commissioners’ fellow members; ׏גand 3 5. Affiliations among Board of Commissioners’’ members and ׏גMajority and/or Controlling Shareholders. 3 Note: explanation shall be given in the event that any concerned affiliations are nonexistent.

Audit Committee Containing, among others: ו34 - הName and position of Audit Committee members; 34 .1 ו34 - הEducational history qualifications (field of study and 34 .2 educational institution) and work experience of Audit Committee members (Position, Institution, and Term of Office); זAudit Committee members’ independency; 34 .3 גDescription of Audit Committee’s duties and responsibilities; 34 .4 ב35ٮאBrief report on Audit Committee members’ activities in the 35 .5 fiscal year; and אFrequency of meetings and attendance rate of Audit 35 .6 Committee members.

Nomination and/or Remuneration Committee Containing, among others: וName, position, and brief CV of Nomination and/or 36 .1 Remuneration Committee members; וIndependency of Nomination and/or Remuneration 36 .2 הCommittee members; 36 וDescription of duties and responsibilities; 36 .3 4. Description of implementation of activities of Nomination and/or Remuneration Committee members in the fiscal year; 5. Frequency of meetings and attendance rate of Nomination N/A and/or Remuneration Committee members; דStatement about the existence of guidelines for Nomination 36 .6 and/or Remuneration Committee; and הPolicy relating to Board of Directors’ succession. 36 .7

Other committees under the Board of Containing, among others: ז35 - וCommissioners owned by the company 1. Name, position, and brief CV of other committee members; 35 2. Independency of other committee members; ח35 3. Description of duties and responsibilities; ה35 - ג35 ד36 - אDescription of the implementation of activities of other 36 .4 committees in the fiscal year; and אFrequency of meetings and attendance rate of other 36 .5 committees.

Description of duties and function of Containing among others: חCorporate Secretary 1. Name and brief CV of the corporate secretary; 36 חDomicile; 36 .2 זDescription of the duties and responsibilities; and 36 .3 חDescriptions on the implementation of Corporate Secretary’s 36 .4 duties in fiscal year.

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Description on internal audit unit Containing, among others: בName of internal audit unit head; 37 .1 בNumber of employees (internal auditors) in internal audit 37 .2 בunit; 37 ׎וCertification orf internal audit professions; 3 .3 ו37 - דInternal audit unit position in corporate structure; 37 .4 5. Brief report on internal audit unit’s implementation of בactivities; and 37 6. Parties appointing and dismissing head of internal audit unit.

Public Accountant The information encloses, among others: 1. Number of periods in which a public accountant has ז38 conducted annual audit on financial statements for the last five (5) years; ז38 2. Name and the year in which a Public Accounting Firm has conducted annual audit on financial statements for the last ז38 five (5) years; 3. Amount of fee for each service provided by public ז38 accountant in the last fiscal year; and 4. Other services provided by the accountant apart from annual audit on financial statements in the last fiscal year. Note: explanation shall be given in the event that any services are nonexistent.

Description on company risk management Containing, among others: 37 - 3 ׎ז ח Explanation on risk management system applied by the .1 company; ב38 - אExplanation on review on risk management system in the 38 .2 fiscal year; ׏ז׎ - 3זExplanation on risks faced by the company; and 3 .3 ׏ז׎ - 3זRisk management efforts. 3 .4

Description on internal control system Covering, among others: ד38 - בBrief explanation on internal control system, among others 38 .1 concerning financial and operational control; הExplanation on compliance with internal control system 38 .2 with internationally-recognized framework (COSO – internal control framework); and וExplanation on review conducted on internal control system 38 .3 implementation in the fiscal year.

Description of corporate social responsibility Covering, among others: זrelated to social responsibility management 1. Information on commitment to social responsibility 40 חcoves these following matters 2. Information on due diligence methods and scope on the 40 social, economic and environmental impacts of company activities א41 - חInformation on important stakeholders affected or 40 .3 influenced by the impact of company activities אInformation on important socio-economic and 41 .4 environmental issues related to the impact of company activities ג41 - בInformation about the scope of corporate social responsibility 41 .5 both as obligation and as excessive obligation ג41 - זInformation about the company’s strategies and work 4׎ .6 programs in handling social, economic and environmental issues in stakeholder engagement and increasing value for stakeholders and shareholders ג41 - בInformation about various programs that exceeds the 41 .7 company’s minimum responsibilities relevant to the implemented business חInformation about financing and social responsibility 46 .8 budgets

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Description of corporate social responsibility Covering, among others: וrelated to Human Rights includes these 1. Information on the commitment and policy of social 41 following matters responsibility related to Human Rights as a core subject ז41 - וInformation on the formulation of the company’s scope 41 .2 of social responsibility related to Human Rights as a core subject וInformation about corporate social responsibility planning in 41 .3 the aspect of Human Rights ח41 - זInformation about implementing CSR initiatives in the 41 .4 aspect of human rights ׎א4 - חInformation about achievements and awards for CSR 41 .5 initiatives in the aspect of human rights

Description of corporate social responsibility Covering, among others: גrelated to fair operations covets these 1. Information on social responsibility commitments and 41 following matters policies in the aspect of fair operations as a core subject ה41 - דInformation about company’s formulation of CSR in the 41 .2 aspect of fair operations as a core subject הInformation about planning corporate social responsibility in 41 .3 the field of fair operations ה41 - דInformation about implementing CSR initiatives on the 41 .4 aspect of fair operations הInformation about achievements and awards CSR initiatives 41 .5 on the aspect of fair operations

Description of corporate social responsibility Covering, among others: related to the environment includes these 1. Information about environmental commitments and policies ׎א4 following matters 2. Information about important environmental impacts and ׎א4 risks that are directly or indirectly related to the company 3. Information about the target / plan of activities in 2018 ׏א4 determined by management; 4. Information about activities implemented and related ב׏ - 42א4 to environmental programs related to the company’s operational activities 5. Information about the implementation of CSR initiatives ד46 related to the environment 6. Information about the achievement of quantitative impacts ב42 on these activities such as the use of environmentally friendly and recycled-able materials and energy, the company’s waste treatment system, complaints mechanism for environmental problems, consideration of environmental aspects in providing credit to customers, and others. גEnvironmental certification owned by the company. 42 .7

Description of corporate social responsibility Covering, among others: דrelated to employment, health and work 1. Labor policies and corporate social responsibility core 42 safety covers the information about commitments דInformation on the scope and formulation of social 42 .2 responsibility in the field of employment הInformation regarding the 2018 target / plan of activities 42 .3 determined by management; and וimplemented Activities and quantitative impacts on the 42 .4 activities א43 - וInformation related to employment, health and safety and 42 .5 security practices, such as gender equality and employment opportunities, work facilities and safety, employee turnover rates, work accident rates, remuneration, complaints mechanism, labor issues, and others.

Description of corporate social responsibility Covering, among others: גrelated to responsibility to consumers includes 1. 2018 Target / plan of activities determined by management 43 these following matters ד45 - דActivities implemented and impacts on the activities related 43 .2 to product responsibility, such as consumer health and safety, product information, facilities, number and countermeasures for consumer complaints, and others.

PT Angkasa Pura I (Persero) 494 Laporan Tahunan 2019 Criteria Description Page

Description of corporate social responsibility Covering, among others: related to social and community development 1. Policies and commitments of corporate social responsibility ה45 includes information about as a core subject to social and community development 2. Information about social issues that are relevant to the א41 company 3. Information about social risks managed by the company ו45 4. Information on the scope and formulation of social א׎ - 46ה4 responsibility in the aspect of social and community development ו45 5. 2018 Target / plan of activities determined by management; 6. implemented Activities and the impacts on the activities; ׎ו׎ - 4ה4 and 7. Cost expense related to social development and ח46 communities, such as the use of local labor, empowerment of communities around the company, improvement of social facilities and infrastructure, other forms of donations, communication about anti-corruption policies and procedures, training on anti-corruption, and others.

Significant cases currently faced by the Covering, among others: company, subsidiaries, and Board of Directors 1. Principal case/lawsuit; א39 - ח38 and/or Board of Commissioners member(s) 2. Dispute/lawsuit settlement status; א39 - ח38 serving during the annual report period 3. Risk faced by the company and amount of dispute/lawsuit א39 - ח38 settlement; and 4. Administrative sanctions imposed to the company, Board ב39 of Commissioners and Board of Directors members, by relevant authorities (capital market, banking, and others) for the latest fiscal year (or if any statement confirming no imposition of administrative sanction exists). Note: explanation shall be given in the event that any significant cases faced by the company, subsidiaries, Board of Commissioners and Board of Directors members are nonexistent. 165 Access to company information and data Description on the availability of company information and data to public, such as through website (in Bahasa Indonesia and English), mass media, mailing list, bulletin, analyst meeting, etc.

Discussion on code of conduct Consisting description, among others on: 1. Code of conduct contents; ב39 2. Disclosure that the code of conduct applies to all levels of ג39 organization; 3. Dissemination of the code of conduct; ג39 4. Types of sanction for each code of conduct violation; and ד39 - ג39 5. Number of code of conduct violation and the sanctions imposed in the last fiscal year. ד39 Note: explanation shall be given in the event that any codes of conduct violations are nonexistent in the last fiscal year.

Disclosure of whistleblowing system Consisting of description on whistleblowing system mechanism, among others: 1. Whistleblowing delivery; 2. Whistleblower protection; ה39 3. Handling of complaints; ו39 4. Parties handling the complaints; and ח39 5. Number of complaints received and processed in the last ז39 fiscal year; and ׎׎ג 6. Sanction/follow-ups for the complaints which are settled in the fiscal year. ׎׎ג Note: explanation shall be given in the event that any incoming complaints are nonexistent in the last fiscal year.

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 495 Criteria Description Page

א׎ - 33בPolicy on the diversity of Board of Description of Company policy on the diversity of Board 3 Commissioners and Board of Directors of Commissioners and Board of Directors composition by composition education (field of study), work experience, age, and gender. Note: explanation and basis of consideration shall be given in the event that concerned policy is nonexistent

Financial Statements

Statements from Board of Directors and/or Compliance with relevant regulation on Accountability on Financial Statements Board of Commissioners on the Accountability Financial Statements Independent on Financial Statements Auditor’s Report Page

Independent auditor’s opinion on the Financial Statements financial statements Independent Auditor’s Report Page

Independent auditor’s description on the The description includes: Financial Statements opinion 1. Names and signatures; Independent 2. Date of Audit Report; and Auditor’s 3. Public Accounting Firm’s and Public Accountant’s License Report Page Numbers.

Comprehensive financial statements Comprehensively consisting elements of the financial Financial statements, such as: Statement 1. Statement of financial position; Page 1-165 2. Statement of income and comprehensive income; 3. Statement of changes in equity; 4. Statement of cash flows; 5. Notes to the financial statements; 6. Comparative information on the previous period; and 7. Statements of financial position at the beginning of the previous period presented when an entity applies an accounting policy retrospectively or makes restatement of financial statements posts, or when an entity reclassifies posts in the financial statements (if relevant).

Comparison of profitability level Comparison between profit (loss) in current year and the Financial previous year. Statement Page 4 - 5

Statement of Cash Flow Fulfilling the following requirements: Financial 1. Classification in three categories of activity: operating, Statement investing, and funding; Page 6 2. The use of direct method in reporting the cash flow from operating activities; 3. Separation of presentation between cash receipts and/or cash expenses for the current year in operating, investing, and funding activities; and 4. Disclosure of non-cash transaction must be included in the notes to the financial statements.

Accounting Policy Highlights Consisting at least: Financial 1. Statement of compliance with Financial Accounting Statement Standards (SAK); Page 18 - 53 2. Basis for the measurement and preparation of financial statements; 3. Income tax; 4. Employee benefits; and 5. Financial instruments.

Disclosure of transactions with related parties Items disclosed among others are: Financial 1. Names of related parties and the nature of relationship with Statement these parties; Page 129 - 130 2. Transactional value and its percentage against total revenue and relevant expenses; and 3. Total balance and its percentage against total assets or liabilities.

PT Angkasa Pura I (Persero) 496 Laporan Tahunan 2019 Criteria Description Page

Disclosure of matters relating to taxation Matters need to be disclosed: Financial 1. Fiscal reconciliation and current tax expense calculation; Statement 2. Explanation of relationship between tax expense (income) Page 67 - 72 and accounting profit; 3. Statement acknowledging that Taxable Profits (LKP) from the reconciliation serves as the basis for Corporate Income Tax’s Annual Tax Returns (SPT) of 2018; 4. Details of assets and deferred tax liabilities recognized in the financial position statement for each presenting period, and the amount of deferred tax (income) expenses recognized in the income statements if the amount is not visible in the total assets or liabilities of deferred tax recognized in the statements of financial position; and 5. Disclosure of any tax disputes.

Disclosure of matters relating to fixed assets Matters need to be disclosed: Financial 1. Depreciation method used; Statement 2. Description of accounting policy selected, either revaluation Page 75 - 77 or cost model; 3. Methods and significant assumptions used to estimate fixed assets’ fair value (for revaluation model) or disclosure of fixed assets’ fair value (for cost model); and 4. Reconciliation of the gross carrying amount and accumulated depreciation of fixed assets at the beginning and the end of period by presenting: addition, reduction, and reclassification.

Disclosure of operational segment Matters need to be disclosed: Financial 1. General information covering the factors used to identify Statement reported segment; Page 130 - 135 2. Information regarding profit and loss, assets, and liabilities of the reported segment; 3. Reconciliation of total revenue, profit and loss, assets, liabilities of the reported segment, and other material elements of the segment against relevant amount in the entity; and 4. Disclosure at the level of entity, covering information on products and/or services, geographical area, and main customers.

Disclosure relating to Financial Instruments Matters need to be disclosed: Financial 1. Detailed of financial instruments by classification; Statement 2. Fair value and hierarchy of each group of financial Page 25 - 35 instruments; 3. Explanation of risks relating to financial instruments: market risks, credit risks, and liquidity risks; 4. Risk management policies; and 5. Quantitative risk analysis relating to financial instruments.

Publication of financial statements Items disclosed among others are: Financial Statements 1. Authorized publication date of the financial statements; and Board of 2. The party responsible for the financial statements Directors Statement authorization. Page

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 497 Reporting Liability

Statement of the Board of Commissioners Regarding the Responsibility for the 2019 Annual Report of PT Angkasa Pura I (Persero)

We, the undersigned, hereby declare that all information in the 2019 Annual Report of PT Angkasa Pura I (Persero) is complete and we take full responsibility for the accuracy of the contents of this Annual Report.

Hereby, this statement is true and correct.

Jakarta, 23 April 2020 Board of Commissioners

Djoko Sasono President Commissioner

Tri Budi Satriyo Erwan Agus Purwanto Irfan Wahid Independent Commissioner Independent Commissioner Independent Commissioner

Danang Parikesit Wihana Kirana Jaya Wempi Saputra Commissioner Commissioner Commissioner

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 Statement of the Board of Directors Regarding the Responsibility for the 2019 Annual Report of PT Angkasa Pura I (Persero)

We, the undersigned, hereby declare that all information in the 2019 Annual Report of PT Angkasa Pura I (Persero) is complete and we take full responsibility for the accuracy of the contents of this Annual Report.

Hereby, this statement is true and correct.

Jakarta, 23 April 2020 Board of Directors

Faik Fahmi President Director

Wendo Asrul Rose Andy Saleh Bratamihardja Operation Director Finance Director

Adi Nugroho Devy Suradji Human Capital and General Affair Director Marketing and Service Director

Dendi Tegar Danianto Lukman F. Laisa Israwadi Business Development Director Technical Director Compliance, Asset, and Procurement Director

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 PT Angkasa Pura I (Persero) 500 Laporan Tahunan 2019 Financial Statements

PT Angkasa Pura I (Persero) Laporan Tahunan 2019 501 PT Angkasa Pura I (Persero) dan entitas anaknya/and its subsidiaries

Laporan keuangan konsolidasian tanggal 31 Desember 2019 dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Consolidated financial statements as of December 31, 2019 and for the year then ended with independent auditors’ report The original consolidated financial statements included herein are in .

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS TANGGAL 31 DESEMBER 2019 AS OF DECEMBER 31, 2019 DAN UNTUK TAHUN YANG BERAKHIR PADA AND FOR THE YEAR THEN ENDED TANGGAL TERSEBUT WITH INDEPENDENT AUDITORS’ REPORT BESERTA LAPORAN AUDITOR INDEPENDEN

Daftar Isi Table of Contents

Halaman/ Page Surat Pernyataan Direksi Directors’ Statement

Laporan Auditor Independen Independent Auditors’ Report

Laporan Posisi Keuangan Konsolidasian ...... 1-3 ...... Consolidated Statement of Financial Position

Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss Komprehensif Lain Konsolidasian ...... 4-5 ...... and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian ...... 6 ...... Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian ...... 7 ...... Consolidated Statement of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian ...... 8-149 ...... Notes to the Consolidated Financial Statements

Informasi Keuangan Entitas Induk Financial Information of the Parent Entity

Laporan Posisi Keuangan ...... 1-2 ...... Statement of Financial Position

Laporan Laba Rugi dan Penghasilan Statement of Profit or Loss Komprehensif Lain ...... 3-4 ...... and Other Comprehensive Income

Laporan Perubahan Ekuitas...... 5 ...... Statement of Changes in Equity

Laporan Arus Kas ...... 6 ...... Statement of Cash Flows

Catatan atas Laporan Keuangan ...... 7-9 ...... Notes to the Financial Statements

************************

The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF KONSOLIDASIAN FINANCIAL POSITION 31 Desember 2019 December 31, 2019 (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31 Desember/December 31,

Catatan/ 2019 Notes 2018

ASET ASSETS

ASET LANCAR 2e,2f, 2g CURRENT ASSETS Kas dan setara kas 5.510.903.592 2h,4,40 3.149.113.800 Cash and cash equivalents Investasi jangka pendek 665.862.312 2e,2f,2h,5,40 478.106.781 Short-term investment Piutang usaha, neto 2f,2h,6 Trade receivables, net Pihak berelasi 138.453.120 2e,40 90.334.042 Related parties Pihak ketiga 389.314.007 419.575.180 Third parties Piutang lain-lain, neto 80.344.191 2h,7 39.711.686 Other receivables, net Persediaan 69.404.026 2i,8 84.807.820 Inventories Uang muka dan beban dibayar di muka 139.959.625 2j,9 159.380.727 Advances and prepaid expense Pendapatan yang masih harus diterima 291.022.438 2h,10 298.444.329 Accrued revenues Pajak dibayar di muka 840.957.804 2t,11 367.865.228 Prepaid taxes Aset lancar lainnya 64.277.125 12 28.266.819 Other current assets TOTAL ASET LANCAR 8.190.498.240 5.115.606.412 TOTAL CURRENT ASSETS

ASET TIDAK LANCAR NON-CURRENT ASSETS Estimasi tagihan pajak 112.711.091 11 - Estimated claims for refundable tax Aset pajak tangguhan 48.494.898 2t,11 41.157.712 Deferred tax assets Uang muka dan biaya dibayar di muka Non-current advances and jangka panjang 12.665.215 2j,9 34.321.854 prepaid expense Investasi jangka panjang 109.819.185 2h,2k,13 100.662.312 Long-term investments Properti investasi, neto 128.888.175 2I, 14 127.872.733 Investment properties, net Aset tetap, neto 34.127.910.920 2m, 2o,15 26.138.784.667 Fixed assets, net Aset takberwujud, neto 43.466.476 2n,16 42.322.384 Intangible assets, net Aset tidak lancar lainnya 12.096.899 8.187.547 Other non-current assets TOTAL ASET TIDAK LANCAR 34.596.052.859 26.493.309.209 TOTAL NON-CURRENT ASSETS

TOTAL ASET 42.786.551.099 31.608.915.621 TOTAL ASSETS

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

1 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued) 31 Desember 2019 December 31, 2019 (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31 Desember/December 31,

Catatan/ 2019 Notes 2018

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang usaha 2h,18 Trade payables Pihak berelasi 59.820.083 2e,40 101.718.709 Related parties Pihak ketiga 255.047.300 587.622.158 Third parties Utang lain-lain 3.292.812.136 2h,20 3.925.481.505 Other payables Pendapatan diterima di muka 128.332.276 2q,19 147.262.859 Unearned revenues Beban akrual 1.322.288.034 2p,17 1.412.039.543 Accrued expenses Utang pajak 425.502.215 2t,11 393.235.617 Tax payables Utang bank jangka pendek 158.010.670 2h,21 105.631.070 Short-term bank loans Bagian jangka pendek pinjaman jangka panjang 538.975.837 2o,2h,21 941.998.089 Current maturities of long-term loans TOTAL LIABILITAS JANGKA PENDEK 6.180.788.551 7.614.989.550 TOTAL CURRENT LIABILITIES LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Pinjaman jangka panjang Long-term loans Utang bank jangka panjang 16.724.208.207 2o,2h,21 5.385.996.924 Long-term bank loans Utang obligasi dan sukuk ijarah 2.994.896.323 2o,2h,22 2.993.700.828 Bonds payable and sukuk ijarah Utang jangka panjang lainnya 388.971.461 23 170.528.854 Other long-term liabilities Liabilitas imbalan kerja karyawan 437.293.206 2r,24 302.394.975 Employee benefits liabilities Liabilitas pajak tangguhan 79.885.504 2t,11 89.079.821 Deferred tax liabilities TOTAL LIABILITAS JANGKA PANJANG 20.625.254.701 8.941.701.402 TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITAS 26.806.043.252 16.556.690.952 TOTAL LIABILITIES

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

2 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued) Tanggal 31 Desember 2019 As of December 31, 2019 (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31 Desember/December 31,

Catatan/ 2019 Notes 2018

EKUITAS EQUITY Ekuitas yang dapat diatribusikan Equity attributable to the owner of kepada pemilik entitas induk the parent entity Modal saham Shares capital Modal dasar 12.000.000 saham Authorized capital 12,000,000 shares dengan nilai nominal Rp1.000.000 with par value of Rp1,000,000 (angka penuh) per saham (full amount) per share Modal ditempatkan disetor Issued and fully paid- penuh - 6.414.412 saham 6.414.412.000 25 6.414.412.000 6,414,412 shares Tambahan modal disetor 8.588.878 - Additional paid in capital Penyertaan modal negara 22.963.207 26 22.963.207 Government capital investment Book value of fixed assets Nilai buku aset tetap kenavigasian on navigation from government dari penyertaan modal negara (37.004.793) 27 (37.004.793) capital investment Accumulated depreciation of Akumulasi penyusutan aset tetap navigation fixed assets kenavigasian dari BPYBDS 408.393.524 27 408.393.524 from BPYBDS Saldo laba Retained earnings Dicadangkan 7.774.022.361 28 6.228.618.258 Approriated Belum dicadangkan 1.451.359.978 28 2.007.018.315 Unappropriated Penghasilan komprehensif lain (67.725.696) 2.960.722 Other compherensive income

Ekuitas yang dapat diatribusikan Equity attributable to owner of kepada pemilik entitas induk 15.975.009.459 15.047.361.233 the parent entity

Kepentingan nonpengendali 5.498.388 29 4.863.436 Non-controlling interests

TOTAL EKUITAS 15.980.507.847 15.052.224.669 TOTAL EQUITY TOTAL LIABILITAS DAN EKUITAS 42.786.551.099 31.608.915.621 TOTAL LIABILITIES AND EQUITY

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

3 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME Tahun yang Berakhir pada Tanggal Year Ended December 31, 2019 31 Desember 2019 (Expressed in thousands of Rupiah, (Disajikan dalam ribuan Rupiah, unless otherwise stated) kecuali dinyatakan lain)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31,

Catatan/ 2019 Notes 2018 PENDAPATAN USAHA OPERATING REVENUES Pendapatan aeronautika 4.975.936.088 30 5.113.648.346 Aeronautical revenues Pendapatan non-aeronautika 3.655.609.514 30 3.407.438.964 Non-aeronautical revenues TOTAL 8.631.545.602 8.521.087.310 TOTAL

Beban operasional bandara (3.280.187.024) 32 (3.152.001.063) Airport operation expenses Beban pegawai (1.590.667.332) 31 (1.553.875.958) Employee expenses Beban umum dan administrasi (1.030.352.218) 33 (1.020.434.219) General and administrative expenses Beban pemasaran (29.640.873) (36.335.286) Marketing expenses Beban lain-lain (102.793.058 ) 35 (60.850.370) Other expenses Penghasilan lain-lain 127.257.058 34 219.204.309 Other income LABA USAHA 2.725.162.155 2.916.794.723 OPERATING PROFIT

Penghasilan keuangan 198.326.544 36 168.849.128 Finance income Beban keuangan (860.269.934) 37 (265.134.161) Finance costs Equity (loss) income Bagian (rugi) laba entitas asosiasi (8.952.137) 13 2.552.006 of associate entities

LABA SEBELUM PAJAK FINAL PROFIT BEFORE FINAL TAX DAN PAJAK PENGHASILAN AND CORPORATE BADAN 2.054.266.628 2.823.061.696 INCOME TAX Beban pajak final (109.731.383) (128.127.639) Final tax expense

LABA SEBELUM PAJAK PROFIT BEFORE PENGHASILAN BADAN 1.944.535.245 2.694.934.057 CORPORATE INCOME TAX

BEBAN PAJAK CORPORATE PENGHASILAN BADAN, NETO (492.308.079) 11d (689.015.898) INCOME TAX EXPENSE, NET

LABA TAHUN BERJALAN 1.452.227.166 2.005.918.159 PROFIT FOR THE YEAR

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

4 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS KOMPREHENSIF LAIN AND OTHER COMPREHENSIVE KONSOLIDASIAN (lanjutan) INCOME (continued) Tahun yang Berakhir pada Tanggal Year Ended December 31, 2019 31 Desember 2019 (Expressed in thousands of Rupiah, (Disajikan dalam ribuan Rupiah, unless otherwise stated) kecuali dinyatakan lain)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31,

Catatan/ 2019 Notes 2018 PENGHASILAN OTHER COMPREHENSIVE KOMPREHENSIF LAIN INCOME

Pos yang akan Item that will be direklasifikasi ke laba rugi reclassified to profit or loss Perubahan nilai wajar aset keuangan Changes in fair value of available- tersedia untuk dijual 12.293.462 5d (2.769.906) for-sale financial assets

Pos-pos yang tidak akan Items that will not be direklasifikasi ke laba rugi reclassified to profit or loss Laba (rugi) aktuarial imbalan Actuarial gain (loss) on kerja (80.524.121) (66.782.925) employee benefits Rugi komprehensif Comprehensive loss entitas asosiasi (2.466.064) (1.551.197) of associate entities

PENGHASILAN (RUGI) OTHER COMPREHENSIVE KOMPREHENSIF LAIN INCOME (LOSS) TAHUN BERJALAN FOR THE YEAR SETELAH PAJAK (70.696.723) (71.104.028) AFTER TAX

TOTAL PENGHASILAN TOTAL COMPREHENSIVE KOMPREHENSIF TAHUN INCOME BERJALAN 1.381.530.443 1.934.814.131 FOR THE YEAR

Laba tahun berjalan yang dapat Profit for the year diatribusikan kepada: attributable to: Pemilik entitas induk 1.451.359.978 2.007.018.315 The owner of parent entity Kepentingan nonpengendali 867.188 (1.100.156) Non-controlling interest

Total 1.452.227.166 2.005.918.159 Total

Total penghasilan (rugi) Total comprehensive komprehensif tahun berjalan yang income (loss) for the year dapat diatribusikan kepada: attributable to: Pemilik entitas induk 1.380.673.460 1.935.914.287 The owner of parent entity Kepentingan nonpengendali 856.983 (1.100.156) Non-controlling interest

Total 1.381.530.443 1.934.814.131 Total

Laba per saham dasar Basic earnings per share (angka penuh) 226.265 2x 312.892 (full amount)

Laba per saham dilusian Diluted earnings per share (angka penuh) 225.458 2x 303.655 (full amount)

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

5 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2019 For the Year Ended December 31, 2019 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) (Expressed in thousands of Rupiah, unless otherwise stated)

Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to The Owner of Parent Entity

Nilai Buku Aset Tetap Akumulasi Kenavigasian Penyusutan dari Penyertaan Aset Tetap Modal Saham - Modal Negara/ Kenavigasian Saldo Laba/Retained Earnings Ditempatkan Tambahan Penyertaan Book Value of dari BPYBDS/ dan Disetor Modal Modal Fixed Assets Accumulated Penghasilan Penuh/ Disetor/ Negara/ on Navigation Depreciation of Komprehensif Kepentingan Share Capital Additional Government from Government Fixed Assets Belum Lain/Other Nonpengendali/ Catatan/ - Issued and Paid- in Capital Capital on Navigation Dicadangkan/ Dicadangkan/ Total/ Comprehensive Total/ Non-controlling Total Ekuitas/ Notes Fully Paid Capital Investment Investment from BPYBDS Appropriated Unappropriated Total Income Total Interests Total Equity

Saldo tanggal 31 Desember 2017 6.414.412.000 - 255.096.706 (269.138.292 ) 408.393.524 5.093.757.108 1.418.577.150 6.512.334.258 74.064.750 13.395.162.946 6.298.096 13.401.461.042 Balance as of December 31, 2017

Pembagian dividen 28 ------(283.716.000 ) (283.716.000 ) - (283.716.000) (334.504 ) (284.050.504 ) Dividend declared Cadangan 28 - - - - - 1.134.861.150 (1.134.861.150 ) - - - - - General reserve Penyertaan modal negara 26 - - (232.133.499) 232.133.499 ------Government capital investment Comprehensive loss of Rugi komprehensif entitas asosiasi ------(1.551.197 ) (1.551.197 ) - (1.551.197 ) associate entities Rugi aktuarial imbalan kerja karyawan ------(66.782.925 ) (66.782.925 ) - (66.782.925 ) Actuarial loss on employee benefits Perubahan nilai wajar aset keuangan Changes in fair value of available-for tersedia untuk dijual ------(2.769.906 ) (2.769.906 ) - (2.769.906 ) -sale financial assets Laba tahun berjalan ------2.007.018.315 2.007.018.315 - 2.007.018.315 (1.100.156 ) 2.005.918.159 Profit for the year

Saldo tanggal 31 Desember 2018 6.414.412.000 - 22.963.207 (37.004.793 ) 408.393.524 6.228.618.258 2.007.018.315 8.235.636.573 2.960.722 15.047.361.233 4.863.436 15.052.224.669 Balance as of December 31, 2018

Pembagian dividen 28 ------(461.614.212 ) (461.614.212 ) - (461.614.212 ) (221.931 ) (461.836.143 ) Dividend declared Cadangan 28 - - - - - 1.545.404.103 (1.545.404.103 ) - - - - - General reserve Comprehensive loss of Rugi komprehensif entitas asosiasi ------(2.466.064) (2.466.064) - (2.466.064 ) associate entities Rugi aktuarial imbalan kerja karyawan ------(80.513.816) (80.513.816) (10.305 ) (80.524.121) Actuarial loss on employee benefits Difference arising from business Selisih transaksi kombinasi bisnis combination of entities under entitas sepengendali - 8.588.878 ------8.588.878 - 8.588.878 common control Perubahan nilai wajar aset keuangan Changes in fair value of tersedia untuk dijual ------12.293.462 12.293.462 - 12.293.462 available-for-sale financial assets Laba tahun berjalan ------1.451.359.978 1.451.359.978 - 1.451.359.978 867.188 1.452.227.166 Profit for the year

Saldo tanggal 31 Desember 2019 6.414.412.000 8.588.878 22.963.207 (37.004.793 ) 408.393.524 7.774.022.361 1.451.359.978 9.225.382.339 (67.725.696) 15.975.009.459 5.498.388 15.980.507.847 Balance as of December 31, 2019

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak The accompanying notes to the consolidated financial statements form an integral part of terpisahkan dari laporan keuangan konsolidasian ini secara keseluruhan. these consolidated financial statements taken as a whole.

6 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT Untuk Tahun yang Berakhir pada Tanggal OF CASH FLOWS 31 Desember 2019 For the Year Ended December 31, 2019 (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31,

Catatan/ 2019 Notes 2018

ARUS KAS DARI CASH FLOWS FROM AKTIVITAS OPERASI OPERATING ACTIVITIES Penerimaan dari pelanggan 8.492.447.622 8.384.535.713 Cash received from customers Pembayaran kas kepada pemasok, Cash payment to suppliers, pihak ketiga lainnya other third parties dan karyawan (5.167.908.046) (4.347.293.407) and employees Pembayaran beban bunga (873.352.965) (262.568.530) Payment of interest expense Pendapatan bunga 198.326.544 168.849.132 Interest income Pembayaran pajak (1.100.241.064) (915.062.085) Tax payment

Kas bersih yang diperoleh dari Net cash provided by aktivitas operasi 1.549.272.091 3.028.460.823 operating activities

ARUS KAS DARI CASH FLOWS FROM AKTIVITAS INVESTASI INVESTING ACTIVITIES Pengeluaran untuk investasi Payment for short-term jangka pendek (187.755.531) (71.000.806) investments Pengeluaran untuk investasi Payment for long-term jangka panjang (11.986.194) (13.361.105) investments Penambahan aset tetap (9.596.046.769) (5.767.905.062) Increase of fixed assets

Kas bersih yang digunakan untuk Net cash used in aktivitas investasi (9.795.788.494) (5.852.266.973) investing activities

ARUS KAS DARI CASH FLOWS FROM AKTIVITAS PENDANAAN FINANCING ACTIVITIES

Penerimaan pinjaman jangka panjang 11.788.080.717 2.746.981.235 Proceed on long-term loan Pembayaran pinjaman jangka panjang (744.659.425) (690.198.279) Payment on long-term loan Pembayaran dividen (461.614.212) (283.716.000) Dividend payment

Kas bersih yang diperoleh dari Net cash provided by aktivitas pendanaan 10.581.807.080 1.773.066.956 financing activities

Dampak bersih perubahan nilai tukar Net effect of exchange rate changes atas kas dan setara kas 26.499.115 53.767.028 on cash and cash equivalents

PENURUNAN BERSIH NET DECREASE IN KAS DAN SETARA KAS 2.361.789.792 (996.972.166) CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AWAL TAHUN 3.149.113.800 4 4.146.085.966 AT BEGINNING OF YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AKHIR TAHUN 5.510.903.592 4 3.149.113.800 AT END OF YEAR

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements form merupakan bagian yang tidak terpisahkan dari laporan an integral part of these consolidated financial statements keuangan konsolidasian ini secara keseluruhan. taken as a whole.

7 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM 1. GENERAL

a. Pendirian Perusahaan a. The Company’s establishment

PT Angkasa Pura I (Persero) ("Perusahaan") PT Angkasa Pura I (Persero) ("the Company") pertama kali didirikan dalam bentuk was first established as a State Company by the Perusahaan Negara dengan nama Perusahaan name of the State Enterprise (PN) Angkasa Negara (PN) Angkasa Pura Kemayoran Pura Kemayoran by the Indonesian berdasarkan Peraturan Pemerintah Republik Government Regulation (PP) No. 33 Year 1962 Indonesia (PP) No. 33 Tahun 1962 tentang on the Establishment of the State Enterprise Pendirian Perusahaan Negara (PN) Angkasa (PN) Angkasa Pura Kemayoran. Based on the Pura Kemayoran. Berdasarkan PP No. 21 PP No. 21 Year 1965 on the Amendment and Tahun 1965 tentang Perubahan dan Tambahan Supplement to Government Regulation No. 33 PP No. 33 Tahun 1962, PN Angkasa Pura Year 1962, PN Angkasa Pura Kemayoran Kemayoran berubah nama menjadi PN changed its name to PN Angkasa Pura. Angkasa Pura. Selanjutnya, berdasarkan PP Furthermore, based on the PP No. 37 Year No. 37 Tahun 1974 tentang Perusahaan Umum 1974 on Public Company Angkasa Pura, PN Angkasa Pura, PN Angkasa Pura dilanjutkan Angkasa Pura continues its establishment and berdirinya dan ditetapkan bentuk usahanya set its business form into Public Corporation menjadi Perusahaan Umum (Perum) (Perum) as defined in Article 2 paragraph (2) of sebagaimana dimaksud dalam Pasal 2 ayat (2) Law No. 9 Year 1969, under the name Public Undang-Undang No. 9 Tahun 1969, dengan Corporation (Perum) "Angkasa Pura". nama Perusahaan Umum (Perum) “Angkasa Pura”.

Dalam rangka pembagian wilayah pengelolaan In the framework of the division of management bandar udara, Perum Angkasa Pura of airports, Perum Angkasa Pura as stipulated sebagaimana dimaksud dalam PP No. 3 Tahun in PP No. 3 Year 1985 was renamed to the 1985 diubah namanya menjadi Perum Angkasa Perum Angkasa Pura I based on the PP No. 25 Pura berdasarkan PP No. 25 Tahun 1986. Year 1986. Furthermore, based on PP No. 5 Selanjutnya berdasarkan PP No. 5 Tahun 1992 Year 1992 on the Conversion of Perum tentang Pengalihan Bentuk Perum Angkasa Angkasa Pura I into a Limited Company Pura I menjadi Perusahaan Perseroan (Persero) ("PP No. 5/1992"), the legal entity of (Persero) (“PP No.5/1992”), bentuk badan Perum Angkasa Pura I is converted into a hukum Perum Angkasa Pura I diubah menjadi Limited Company (PT). With the conversion of Perseroan Terbatas (PT). Dengan dialihkannya Perum Angkasa Pura I into a Limited Company bentuk Perum Angkasa Pura I menjadi (Persero), Perum Angkasa Pura I is liquidated Perusahaan Perseroan (Persero), Perum at the time of the establishment of the Company Angkasa Pura I dinyatakan bubar pada saat (Persero) with the provision that all rights and pendirian Perusahaan Perseroan (Persero) obligations, property and employees of General tersebut dengan ketentuan bahwa segala hak Company (Perum) Angkasa Pura I, which dan kewajiban, kekayaan serta pegawai Perum existed at the time of its liquidation are Angkasa Pura I yang ada pada saat transferred to the Company (Persero). pembubarannya beralih kepada Perusahaan Perseroan (Persero) yang bersangkutan.

Perusahaan mulai beroperasi sejak The Company started its operations since the dialihkannya status hukum dari Perum menjadi transfer of legal status from the General bentuk usaha Perseroan Terbatas (PT) tahun Company into a Limited Company (PT) 1993. in 1993.

8 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

a. Pendirian Perusahaan (lanjutan) a. The Company’s establishment (continued)

Dalam rangka pelaksanaan PP No. 5/1992 In the implementation of PP No. 5/1992 the ditandatangani Akta Pendirian Perseroan Deed of Establishment of a Limited Liability Terbatas Angkasa Pura I (Persero) No. 1 Company Angkasa Pura I (Persero) No. 1 tanggal 2 Januari 1993, sebagaimana dated January 2, 1993 was signed, as diperbaiki dengan Akta Pembetulan No. 95 corrected by Deed of Rectification No.95 dated tanggal 19 Maret 1993 keduanya dibuat di March 19, 1993, both made by Muhani Salim hadapan Muhani Salim S.H., Notaris di Jakarta, S.H, Notary in Jakarta, which has been yang telah memperoleh pengesahan Menteri approved by the Ministry of Justice by Decree Kehakiman berdasarkan Keputusan No. C2- No. C2-2470.HT.01.01. th.93 dated April 24, 2470.HT.01.01. th.93 tanggal 24 April 1993 dan 1993 and was registered at the Central Jakarta telah didaftarkan pada Kepaniteraan District Court No. 1370/1993 dated May 19, Pengadilan Negeri Jakarta Pusat 1993 and was published in the State Gazette of No. 1370/1993 tanggal 19 Mei 1993 dan telah the Republic of Indonesia No.52 dated June 29, diumumkan dalam Berita Negara Republik 1993, the Official Gazette of the Republic of Indonesia No. 52 tanggal 29 Juni 1993, Indonesia No. 2914. Tambahan Berita Negara Republik Indonesia No. 2914.

Berdasarkan pasal 3 Anggaran Dasar Based on article 3 of the Company’s Articles of Perusahaan, kegiatan utama Perusahaan Association, its main activities are conducting adalah menyelenggarakan usaha jasa airport service business and other related kebandarudaraan dan pelayanan jasa terkait businesses in conformity with business bandar udara dan usaha-usaha lainnya yang principles of a Limited Company. mempunyai hubungan dengan usaha tersebut sesuai dengan prinsip-prinsip Perseroan Terbatas.

Perusahaan dapat pula mendirikan atau The Company may also establish other entities menjalankan perusahaan lainnya yang or undertake other ventures related to those mempunyai hubungan dengan usaha tersebut business activities either individually or in di atas baik sendiri-sendiri maupun bersama- partnership with other parties provided that sama dengan badan lain sepanjang tidak those are permissible under the prevailing laws bertentangan dengan peraturan perundang- and regulations and the Company's articles of undangan yang berlaku dan sesuai dengan association. ketentuan dalam anggaran dasar Perusahaan.

Berdasarkan PP No. 77 Tahun 2012 Tentang Based on PP No. 77 Year 2012 Regarding Perum Lembaga Penyelenggara Pelayanan Perum of Lembaga Penyelenggara Pelayanan Navigasi Penerbangan Indonesia (LPPNPI), Navigasi Penerbangan Indonesia (LPPNPI), jasa pelayanan penerbangan tidak dikelola oleh aviation services are not managed by the Perusahaan sejak tanggal 16 Januari 2013. Company since January 16, 2013.

Induk Perusahaan, yang juga adalah induk The Company’s parent, which is also the terakhir Perusahaan, adalah Pemerintah Company’s ultimate parent, is the Government Republik Indonesia. of the Republic of Indonesia.

9 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

a. Pendirian Perusahaan (lanjutan) a. The Company’s establishment (continued)

Perusahaan berkantor pusat di Kemayoran, The Company is headquartered in Kemayoran, Jakarta. Pada tahun 2019, bandara yang Jakarta. In 2019, airports managed by the dikelola oleh Perusahaan sebanyak 14 sesuai Company are as many as 14 according to Keputusan Menteri Perhubungan No. KM 122 Decree of the Minister of Communication No. Tahun 2019 tentang Perusahaan sebagai KM 122 Year 2019 regarding the Company as Badan Usaha Bandar Udara (BUBU) yaitu: Airport Business Entity (BUBU) is:

1) Bandara/Airport I Gusti Ngurah Rai (DPS) - Bali 2) Bandara/Airport Juanda Surabaya (SUB) - Surabaya 3) Bandara/Airport Sultan Hasanuddin (UPG) - Makassar 4) Bandara/Airport Sultan Aji Muhammad Sulaiman Sepinggan (BPN) - Balikpapan 5) Bandara/Airport Frans Kaisiepo (BIK) - Biak 6) Bandara/Airport Sam Ratulangi (MDC) - Manado 7) Bandara/Airport Adisutjipto (JOG) - Yogyakarta 8) Bandara/Airport Adi Soemarmo (SOC) - Surakarta 9) Bandara/Airport Syamsuddin Noor (BDJ) - Banjarmasin 10) Bandara/Airport Pattimura (AMQ) - Ambon 11) Bandara/Airport Jendral Ahmad Yani (SRG) - Semarang 12) Bandara/Airport Lombok (LOP) - Praya 13) Bandara/Airport El Tari (KOE) – Kupang 14) Bandara/Airport Yogyakarta (YIA) - Kulonprogo

Selain itu, Perusahaan telah mendirikan In addition, the Company has established Strategic Business Unit (SBU) Komersial Bali, Commercial Strategic Business Unit (SBU) yang merupakan unit khusus yang dibentuk Bali, which is a special unit established by the oleh Direksi dengan fokus meningkatkan Directors to focus on increasing non- pendapatan non-aeronautika di Bandara aeronautical revenues at I Gusti Ngurah Rai Internasional I Gusti Ngurah Rai Bali. International Airport Bali.

Selain itu, ekspansi usaha Perusahaan In addition, the Company's business expansion dilakukan dengan pembentukan entitas anak is done by establishing subsidiaries (Note 1c). (Catatan 1c).

Dalam rangka pengembangan bandar udara, In the development of airports, Directors issued Direksi menerbitkan keputusan untuk a decree to establish the organization and membentuk organisasi dan tata kerja proyek project operating procedures as follows: sebagai berikut :

a. Sesuai dengan Keputusan Direksi a. In accordance with the Decision of the PT Angkasa Pura I (Persero) Directors of PT Angkasa Pura I (Persero) No. KEP.145/OM.01.01/2016 tanggal No. KEP.145/OM.01.01/2016 dated 23 September 2016 tentang Organisasi September 23, 2016 about the dan Tata Kerja Proyek Pengembangan Organization and Operating Procedure Bandar Udara Internasional Yogyakarta. Development Project of International Airport Yogyakarta.

10 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

a. Pendirian Perusahaan (lanjutan) a. The Company’s establishment (continued)

Dalam rangka pengembangan bandar udara In the development of airports, Directors issued Direksi menerbitkan keputusan untuk a decree to establish the organization and membentuk organisasi dan tata kerja proyek project working procedures as follows: sebagai berikut: (lanjutan) (continued)

b. Sesuai dengan Keputusan Direksi b. In accordance with the Decision of the PT Angkasa Pura I (Persero) No. Board of Directors of PT Angkasa Pura I KEP.24/OM.01.01/2016 tanggal (Persero) No. KEP.24/OM.01.01/2016 11 Februari 2016 tentang perubahan atas dated February 11, 2016 on amendments keputusan Direksi PT Angkasa Pura I to the decision of the Directors of PT (Persero) No. KEP.107/OM.01.01/2014 Angkasa Pura I (Persero) No. tentang Organisasi dan Tata Kerja Proyek KEP.107/OM.01.01/2014 about the Pengembangan Bandar Udara Ahmad Organization and Operating Procedure Yani-Semarang. Development Project of Ahmad Yani International Airport-Semarang.

c. Sesuai dengan Keputusan Direksi c. In accordance with the Decision of PT Angkasa Pura I (Persero) No. Directors of PT Angkasa Pura I (Persero) KEP.176/OM.01.01/2014 tanggal No. KEP.176/OM.01.01/2014 dated 15 Desember 2014 tentang Organisasi dan December 15, 2014 about the Tata Kerja Proyek Pengembangan Bandar Organization and Operating Procedure Udara Syamsudin Noor - Banjarmasin. Development Project of Syamsudin Noor Airport in Banjarmasin.

b. Dewan Komisaris dan Direksi, Komite Audit b. Board of Commissioners and Directors, dan Karyawan Audit Committee and Employees

Susunan Dewan Komisaris dan Direksi The compositions of the Company’s Board Perusahaan pada tanggal 31 Desember 2019 of Commissioners and Directors as of dan 2018 adalah sebagai berikut: December 31, 2019 and 2018 are as follows:

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018 Dewan Komisaris Board of Commissioners Komisaris Utama Djoko Sasono Djoko Sasono President Commissioner Komisaris Independen*) - Anandy Wati Independent Commissioner*) Komisaris Suprasetyo Suprasetyo Commissioner Komisaris Ali Mochtar Ngabalin Ali Mochtar Ngabalin Commissioner Komisaris Tri Budi Satriyo Tri Budi Satriyo Commissioner Komisaris Harry Z. Soeratin Harry Z. Soeratin Commissioner Direksi Directors Direktur Utama Faik Fahmi Faik Fahmi President Director Direktur Teknik Lukman F. Laisa Lukman F. Laisa Technical Director Direktur Operasi Wendo Asrul Rose Wendo Asrul Rose Operation Director Direktur Pemasaran dan Pelayanan Devy W. Suradji Devy W. Suradji Marketing and Service Director Direktur Keuangan Novrihandri Novrihandri Finance Director Human Capital and Direktur SDM dan Umum Adi Nugroho Adi Nugroho General Affair Director Direktur Pengembangan Sardjono Jhony Sardjono Jhony Business Development Usaha Tjitrokusumo Tjitrokusumo Director

*) Jabatan sebagai Komisaris telah berakhir pada tanggal 26 April 2019/Position as Commissioner has ended on April 26, 2019

11 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Dewan Komisaris dan Direksi, Komite Audit b. Board of Commissioners and Directors, dan Karyawan (lanjutan) Audit Committee and Employees (continued)

Susunan Komite Audit Perusahaan pada The compositions of the Company’s Audit tanggal 31 Desember 2019 dan 2018 adalah Committee as of December 31, 2019 and 2018 sebagai berikut: are as follows:

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018 Ketua Harry Z. Soeratin Anandy Wati Chairman Wakil Ketua I Djoko Sasono Harry Z. Soeratin Vice Chairman I Wakil Ketua II - Djoko Sasono Vice Chairman II Anggota Suka Edi Prasetyo Agus Waluyo Member Anggota Syaiful Syaiful Member

Total manfaat yang dibayarkan oleh Kelompok Total benefits paid by the Group for the Board Usaha untuk Dewan Komisaris dan Direksi of Commissioners and Directors amounted to sebesar Rp133.531.249 dan Rp116.429.651 Rp133,531,249 and Rp116,429,651 for the masing-masing untuk tahun yang berakhir pada years ended December 31, 2019 and 2018, tanggal 31 Desember 2019 dan 2018 (tidak respectively (unaudited). diaudit).

Pada tanggal 31 Desember 2019 dan 2018, On December 31, 2019 and 2018, the number jumlah karyawan tetap Kelompok Usaha of permanent employees of the Group are masing-masing sebanyak 4.562 dan 4.389 4,562 and 4,389, respectively (unaudited). orang (tidak diaudit).

Laporan keuangan konsolidasian PT Angkasa The consolidated financial statements of Pura I (Persero) dan entitas anaknya tanggal 31 PT Angkasa Pura I (Persero) and its Desember 2019 dan tahun yang berakhir pada subsidiaries as of December 31, 2019 tanggal tersebut diselesaikan dan diotorisasi and for the year then ended are completed and untuk terbit oleh Direksi Perusahaan pada authorized for issuance on February 28, 2020 tanggal 28 Februari 2020. Direksi Perusahaan by the Company’s Directors. The Company’s yang menandatangani Surat Pernyataan Directors who signed the Directors’ Statement Direksi bertanggung jawab atas penyusunan are responsible for the fair preparation and dan penyajian wajar laporan keuangan presentation of such consolidated financial konsolidasian tersebut. statements.

c. Entitas anak c. Subsidiaries

Laporan keuangan konsolidasian mencakup The consolidated financial statements include akun-akun Perusahaan dan entitas anak the accounts of the Company and its (selanjutnya disebut “Kelompok Usaha”) berikut subsidiaries (collectively referred to hereafter ini, dimana Perusahaan mempunyai as “the Group”), over which the Company has pengendalian: control:

Pendirian dan Beroperasi Kegiatan Komersial/Year of Total Aset sebelum Eliminasi/ Nama entitas anak/ Usaha/ Establishment & Kepemilikan/ Total Assets before Elimination Names of Principal Domisili/ Commercial Percentages of subsidiaries Activity Domicile Operation Ownership 2019 2018

PT Angkasa Pura Logistik Logistik Jakarta 2012 98,00% 302.928.238 247.876.813 PT Angkasa Pura Hotel Hotel Jakarta 2012 99,99% 738.816.758 728.225.102 PT Angkasa Pura Properti Properti Jakarta 2012 99,96% 537.395.635 485.594.811 PT Angkasa Pura Suport Jasa Jakarta 2012 99,81% 1.393.988.229 1.018.677.301 PT Angkasa Pura Retail Trading Jakarta 2014 97,50% 90.226.172 81.063.880

12 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued) c. Entitas anak (lanjutan) c. Subsidiaries (continued) PT Angkasa Pura Logistik (“APL”) PT Angkasa Pura Logistik (“APL”)

APL didirikan berdasarkan Akta Notaris Nanda APL was established based on the Deed of Fauz Iwan SH, M.Kn No. 01 tanggal Notary Nanda Fauz Iwan SH, M.Kn No. 01 6 Januari 2012 dan telah beberapa kali diubah dated January 6, 2012 and has been amended terakhir dengan Akta No. 20 tanggal several times the latest by Deed No. 20 dated 23 Mei 2014. Akta tersebut telah disahkan oleh May 23, 2014. The Deed has been approved Menteri Hukum dan Hak Asasi Manusia by the Ministry of Law and Human Rights of the Republik Indonesia melalui Surat Keputusan Republic of Indonesia through Decision Letter No. AHU-03158.AH.01.01. Tahun 2012 tanggal No. AHU-03158.AH.01.01. Year 2012 dated 18 Januari 2012. January 18, 2012. APL memiliki modal dasar sebesar APL has authorized capital of Rp80,000,000 Rp80.000.000 terbagi dalam 80.000 saham divided into 80,000 shares with par value of dengan nilai nominal per sahamnya sebesar Rp1,000,000 (full amount) per share issued and Rp1.000.000 (angka penuh) modal fully paid-up capital of Rp25,000,000. ditempatkan dan disetor sebesar Rp25.000.000. Perubahan Anggaran Dasar terakhir APL The latest Amendment of APL’s Article of berdasarkan Akta Notaris Nanda Fauz Iwan, Association based on Notarial Deed of Nanda S.H., M.Kn. No.05 tanggal 28 Oktober 2019 Fauz Iwan, SH, M.Kn. No.05 dated tentang Perubahan Anggaran Dasar Mengenai October 28, 2019 regarding Amendment to the Maksud dan Tujuan Serta Kegiatan Articles of Association Regarding the Purpose Usaha PT Angkasa Pura Logistik, telah and Objectives and Business Activities of diberitahukan kepada Kementerian Hukum dan PT Angkasa Pura Logistik, has been Hak Asasi Manusia Republik Indonesia melalui approved by the Ministry of Law and Human Surat Penerimaan Pemberitahuan Rights of the Republic of Indonesia No. AHU-0088543.AH.01.02.Tahun 2019 through Notification Receipt Letter tanggal 30 Oktober 2019. No. AHU-0088543.AH.01.02.Year 2019 dated October 30, 2019. Kegiatan utama APL berdasarkan Anggaran The main business of APL based on its Articles Dasarnya, melingkupi bidang Pergudangan dan of Association, comprises of Warehousing and Aktivitas Penunjang Angkutan, Aktivitas Agen Transportation Support Activities, Travel Agent Perjalanan, Penyelenggara Tur dan Jasa Activities, Tour Operators and Other Reservasi Lainnya, Aktivitas Penyewaan dan Reservation Services, Rental and Leasing Sewa Guna Usaha Tanpa Hak Opsi, Aktivitas Activities without Option Rights, Post and Pos dan Kurir, Pengelolaan dan Daur Ulang Courier Activities, Waste Management and Sampah, Angkutan Darat dan Angkutan Melalui Recycling, Land Transportation and Saluran Pipa, Real Estate, Konstruksi Khusus, Transportation through Pipelines, Real Estate, Angkutan Perairan, dan Angkutan Udara. Special Construction, Water Transportation, and Air Transportation. Susunan pemegang saham dan kepemilikan The details of the shareholders and their share saham APL pada tanggal 31 Desember 2019 ownerships of APL as of December 31, 2019 adalah sebagai berikut: are as follows:

Saham Ditempatkan Persentase Total Saham/ dan Disetor/ Kepemilikan/ Total Shares Shares Issued Percentage Pemegang Saham (Lembar/Shares) and Fully Paid of Ownership (%) Shareholders

PT Angkasa Pura I (Persero) 24.500 24.500.000 98,00 PT Angkasa Pura I (Persero) Pusat Koperasi Karyawan Pusat Koperasi Karyawan Angkasa Pura I Angkasa Pura I (Puskokapura) 500 500.000 2,00 (Puskokapura)

Total 25.000 25.000.000 100,000 Total

13 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Entitas anak (lanjutan) c. Subsidiaries (continued)

PT Angkasa Pura Hotel (“APH”) PT Angkasa Pura Hotel (“APH”)

APH didirikan berdasarkan Akta Notaris Nanda APH was established based on Notarial Deed Fauz lwan SH, M.Kn No. 03 tanggal of Nanda Fauz lwan SH, M.Kn No. 03 dated 6 Januari 2012 dan telah disahkan oleh Menteri January 6, 2012 and has been approved by the Hukum dan Hak Asasi Manusia Republik Ministry of Law and Human Rights of the Indonesia melalui Surat Keputusan Republic of Indonesia through Decision Letter No. AHU- 03688.AH.01.01.Tahun 2012 No. AHU-03688.AH.01.01. Year 2012 dated tertanggal 20 Februari 2012. February 20, 2012.

Anggaran Dasar APH telah beberapa kali APH’s Article of Association has been amended diubah terakhir dengan Akta Notaris Nanda several times, recently through Notarial Deed of Fauz lwan SH, M.Kn No. 03 tanggal Nanda Fauz Iwan SH, M.Kn, No. 03 dated 14 November 2017 tentang penambahan November 14, 2017 regarding addition of anggaran dasar perseroan terbatas articles of association for companies PT Angkasa Pura Hotel, dan telah disahkan PT Angkasa Pura Hotel, and which has been oleh Kementerian Hukum dan Hak Asasi approved by the Ministry of Law and Human Manusia Republik Indonesia melalui Surat Rights of the Republic of Indonesia through its Keputusan No. AHU-0005993.AH.01.02 Decision Letter No. AHU-0005993.AH.01.02 tanggal 10 Maret 2017. dated March 10, 2017.

Kegiatan utama APH berdasarkan Anggaran The main business of APH based on its Articles Dasarnya meliputi: of Association consist of:

a. Di bidang perhotelan meliputi penyediaan a. In the field of hospitality, it includes the kamar menginap, airport hotel, lounge, provision of stay rooms, airport hotels, food and beverage, travel agent, lounges, food and beverage, travel agents, penyediaan makanan lainnya dan kegiatan provision of other food and tourism related usaha yang berkaitan dengan business activities including the provision kepariwisataan termasuk didalamnya of convention rooms, conferences and penyediaan ruangan/tempat konvensi, exhibitions, including food and drink kongres dan pameran, termasuk services, washing services clothing, pelayanan makan dan minum, pelayanan providing accommodation facilities and pencucian pakaian, penyediaan fasilitas other services needed. akomodasi dan pelayanan lain yang diperlukan.

b. Di bidang jasa meliputi jasa konsultasi b. In the field of services include hospitality bidang perhotelan, jasa management consulting services, hotel management hotel, villa, jasa pelayanan penumpang di services, villas, airport passenger services, Bandara, jasa pengelolaan hotel, jasa hotel management services, restaurant/ rumah makan/restoran, jasa boga restaurant services, food and beverage makanan dan minuman termasuk services including the provision of food and penyediaan makanan dan minuman di beverages on airplanes. dalam pesawat terbang.

c. Di bidang perdagangan meliputi c. In the field of trade includes trade in food perdagangan makanan dan minuman. and beverages.

APH memiliki modal dasar sebesar APH has authorized capital of Rp2,000,000,000 Rp2.000.000.000 terbagi dalam 2.000.000 divided into 2,000,000 shares with par value of saham dengan nilai nominal saham sebesar Rp1,000,000 (full amount) per share issued and Rp1.000.000 (angka penuh) modal fully paid-up capital of Rp649,904,000. ditempatkan dan disetor sebesar Rp649.904.000.

14 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Entitas anak (lanjutan) c. Subsidiaries (continued)

PT Angkasa Pura Hotel (“APH”) (lanjutan) PT Angkasa Pura Hotel (“APH”) (continued)

Susunan pemegang saham dan kepemilikan The details of the shareholders and their share saham APH pada tanggal 31 Desember 2019 ownerships of APH as of December 31, 2019 adalah sebagai berikut: are as follows:

Saham Ditempatkan Persentase Total Saham/ dan Disetor/ Kepemilikan/ Total Shares Shares Issued Percentage Pemegang Saham (Lembar/Shares) and Fully Paid of Ownership (%) Shareholders

PT Angkasa Pura I (Persero) 649.864 649.864.000 99,99 PT Angkasa Pura I (Persero) Pusat Koperasi Karyawan Pusat Koperasi Karyawan Angkasa Pura I Angkasa Pura I (Puskokapura) 40 40.000 0,01 (Puskokapura)

Total 649.904 649.904.000 100,00 Total

PT Angkasa Pura Properti (“APP”) PT Angkasa Pura Properti (“APP”)

APP didirikan berdasarkan Akta Notaris Nanda APP was established based on Notarial Deed Fauz lwan SH, M.Kn., No. 02 tanggal 6 Januari of Nanda Fauz lwan SH, M.Kn., No. 02 dated 2012 dan telah disahkan oleh Menteri Hukum January 6, 2012 and has been approved by the dan Hak Asasi Manusia Republik Indonesia Ministry of Law and Human Rights through its melalui Surat Keputusan No. AHU- Decision Letter No. AHU- 03704.AH.01.01 Year 03704.AH.01.01 Tahun 2012 tanggal 2012 dated February 20, 2012. APP’s Article of 20 Januari 2012. Anggaran Dasar APP telah Association has been amended several times, beberapa kali diubah terakhir berdasarkan Akta recently through Notarial Deed of Nanda Fauz Notaris Nanda Fauz lwan SH, M.Kn No. 08 Iwan SH, M.Kn, No. 08 dated October 31, 2019 tanggal 31 Oktober 2019 tentang Perubahan regarding Purpose and Objectives and Anggaran Dasar Mengenai Maksud dan Tujuan Business Activities of PT Angkasa Pura Serta Kegiatan Usaha PT Angkasa Pura Properti, and which have been approved by the Properti, dan telah disahkan oleh Kementerian Ministry of Law and Human Rights of the Hukum dan Hak Asasi Manusia Republik Republic of Indonesia through its Decision Indonesia melalui Surat Keputusan Letter No. 0090336.AH.01.02.Year 2019 dated No. AHU-0090336.AH.01.02.Tahun 2019 November 5, 2019. tanggal 5 November 2019.

Kegiatan utama APP berdasarkan Anggaran The main business of APP based on its Articles Dasarnya meliputi konstruksi gedung dan of Association comprises civil construction and bangunan sipil, konstruksi khusus, building construction, special construction, perdagangan besar, bukan mobil dan sepeda wholesale trade, non-car and motorbike, real motor, real estate, pengelolaan air dan daur estate, water management and waste ulang sampah, aktivitas remediasi, recycling, remediation activities, warehousing pergudangan dan aktivitas penunjang and transportation support activities, service angkutan, aktivitas penyedia jasa untuk provider activities for buildings, parks and gedung, pertamanan dan olahraga. sports

APP memiliki modal dasar sebesar APP has authorized capital of Rp168,000,000 Rp168.000.000 terbagi dalam 168.000 saham divided into 168,000 shares with par value of dengan nilai nominal saham sebesar Rp1,000,000 (full amount) per share issued and Rp1.000.000 (angka penuh) dan modal fully paid-up capital of Rp168,000,000. ditempatkan dan disetor sebesar Rp168.000.000.

15 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Entitas anak (lanjutan) c. Subsidiaries (continued)

PT Angkasa Pura Properti (“APP”) (lanjutan) PT Angkasa Pura Properti (“APP”) (continued) Susunan pemegang saham dan kepemilikan The details of the shareholders and their share saham APP pada tanggal 31 Desember 2019 ownerships of APP as of December 31, 2019 adalah sebagai berikut: are as follows:

Saham Ditempatkan Persentase Total Saham/ dan Disetor/ Kepemilikan/ Total Shares Shares Issued Percentage Pemegang Saham (Lembar/Shares) and Fully Paid of Ownership (%) Shareholders

PT Angkasa Pura I (Persero) 167.940 167.940.000 99,96 PT Angkasa Pura I (Persero) Pusat Koperasi Karyawan Pusat Koperasi Karyawan Angkasa Pura I Angkasa Pura I (Puskokapura) 60 60.000 0,04 (Puskokapura)

Total 168.000 168.000.000 100,00 Total

PT Angkasa Pura Suport (“APS”) PT Angkasa Pura Suport (“APS”)

APS didirikan berdasarkan Akta Notaris Nanda APS was established based on Notarial Deed Fauz Iwan SH, M.Kn., No. 03 tanggal 9 Februari of Notary Nanda Fauz Iwan SH, M.Kn., No. 03 2012 dan telah disahkan oleh Kementerian dated February 9, 2012 and has been approved Hukum dan Hak Asasi Manusia Republik by the Ministry of Law and Human Rights Indonesia melalui Surat Keputusan No. AHU- through its Decision Letter No. AHU- 08735.AH.01.01 Tahun 2012 tanggal 08735.AH.01.01 Year 2012 dated February 20, 20 Februari 2012. Anggaran Dasar Perusahaan 2012. The Article of Association has been telah beberapa kali diubah, terakhir amended several times, recently based on berdasarkan Akta Notaris Nanda Fauz Iwan Notarial Deed of Notary Nanda Fauz Iwan SH, SH, M.Kn., No. 10 tanggal 31 Oktober 2019 M.Kn., No. 10 dated October 31, 2019 tentang Perubahan Anggaran Dasar Mengenai regarding Purpose and Objectives and Maksud dan Tujuan Serta Kegiatan Usaha PT Business Activities of PT Angkasa Pura Suport. Angkasa Pura Suport. Akta tersebut telah The Deed has been approved by the Ministry of disahkan melalui keputusan Menteri Hukum Law and Human Rights of the Republic of dan Hak Asasi Manusia Republik Indonesia No. Indonesia No. 0090368.AHA.01.02.Year 2019 AHU-0090368.AHA.01.02.Tahun 2019 tanggal dated November 5, 2019. 5 November 2019.

Kegiatan utama APS berdasarkan Anggaran The main activities of the APS based on its Dasarnya meliputi jasa pendukung Articles of Association include airport support kebandarudaraan serta optimalisasi services and optimizing the use of company pemanfaatan sumber daya perseroan untuk resources to produce high-quality menghasilkan barang/jasa yang bermutu tinggi. goods/services.

APS memiliki modal dasar sebesar APS has authorized capital of Rp1,000,000,000 Rp1.000.000.000 terbagi dalam 1.000.000 divided into 1,000,000 shares with par value of saham dengan nilai nominal saham sebesar Rp1,000,000 (full amount) per share and issued Rp1.000.000 (angka penuh) dan modal and fully paid-up capital of Rp250,480,000. ditempatkan dan disetor sebesar Rp250.480.000.

16 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Entitas anak (lanjutan) c. Subsidiaries (continued) PT Angkasa Pura Suport (“APS”) (lanjutan) PT Angkasa Pura Suport (“APS”) (continued) Susunan pemegang saham dan kepemilikan The details of the shareholders and their share saham APS pada tanggal 31 Desember 2019 ownerships of APS as of December 31, 2019 adalah sebagai berikut: are as follows:

Saham Ditempatkan Persentase Total Saham/ dan Disetor/ Kepemilikan/ Total Shares Shares Issued Percentage Pemegang Saham (Lembar/Shares) and Fully Paid of Ownership (%) Shareholders

PT Angkasa Pura I (Persero) 250.000 250.000.000 99,81 PT Angkasa Pura I (Persero) Pusat Koperasi Karyawan Pusat Koperasi Karyawan Angkasa Pura I Angkasa Pura I (Puskokapura) 480 480.000 0,19 (Puskokapura)

Total 250.480 250.480.000 100,00 Total

PT Angkasa Pura Retail (“APR”) PT Angkasa Pura Retail (“APR”)

APR didirikan berdasarkan Akta Notaris Nanda APR was established based on Notarial Deed Fauz Iwan, S.H, M.Kn., No. 11 tanggal No. 11 Notary Nanda Fauz Iwan, S.H, M.Kn in 23 September 2014 dan telah disahkan oleh South Jakarta, dated September 23, 2014 and Kementrian Hukum dan Hak Asasi Manusia was approved by of the Ministry of Law and Republik Indonesia melalui Surat Keputusan Human Rights Republic of Indonesia through No. AHU-26401.40.10.2014 Tahun 2014 Decree No. AHU-26401.40.10.2014 Year 2014 tanggal 24 September 2014. dated September 24, 2014.

Kegiatan utama APR berdasarkan Anggaran The main business of APR based on its Articles Dasarnya adalah menjalankan usaha dalam of Association is comprises of field of Retail and bidang pengelolaan Retail dan Food & Food & Beverages management aimed at Beverages yang ditujukan kepada para airport service users. pengguna jasa bandar udara.

APR memiliki modal dasar sebesar APR has authorized capital of Rp200,000,000 Rp200.000.000 terbagi dalam 200.000 saham divided into 200,000 shares with par value of dengan nilai nominal saham sebesar Rp1,000,000 (full amount) per share and issued Rp1.000.000 (angka penuh) dan modal and fully paid-up capital of Rp50,000,000. ditempatkan dan disetor sebesar Rp50.000.000. Susunan pemegang saham dan kepemilikan The details of the shareholders and their share saham APR pada tanggal 31 Desember 2019 ownerships of APR as of December 31, 2019 adalah sebagai berikut: are as follows:

Saham Ditempatkan Persentase Total Saham/ dan Disetor/ Kepemilikan/ Total Shares Shares Issued Percentage Pemegang Saham (Lembar/Shares) and Fully Paid of Ownership (%) Shareholders

PT Angkasa Pura I (Persero) 48.750 48.750.000 97,5 PT Angkasa Pura I (Persero) PT Angkasa Pura Hotel 1.250 1.250.000 2,5 PT Angkasa Pura Hotel

Total 50.000 50.000.000 100,00 Total

17 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Berikut ini adalah kebijakan akuntansi signifikan Presented below are the significant accounting yang diterapkan dalam penyusunan laporan policies adopted in preparing the Group’s keuangan konsolidasian Kelompok Usaha yang consolidated financial statements, which are in sesuai dengan Standar Akuntansi Keuangan di conformity with Indonesian Financial Accounting Indonesia (SAK) yang mencakup Pernyataan Standards (SAK) which comprises the Statements Standar Akuntansi Keuangan (PSAK) dan of Financial Accounting Standards (PSAK) and Interpretasi Standar Akuntansi Keuangan (ISAK) Interpretations of Financial Accounting Standards yang dikeluarkan oleh Dewan Standar Akuntansi (ISAK) issued by the Board of Financial Accounting Keuangan Ikatan Akuntan Indonesia dan Keputusan Standards of the Indonesian Institute of Accountants Ketua Bapepam-LK No. KEP-347/BL/2012 and Decree of the Chairman of Bapepam-LK tertanggal 25 Juni 2012 tentang Penyajian dan No. KEP-347/BL/2012 dated June 25, 2012 Pengungkapan Laporan Keuangan Emiten atau regarding the Presentation and Disclosure of Perusahaan Publik. Kebijakan ini telah diterapkan Financial Statements of an Issuer or a Public secara konsisten terhadap seluruh periode yang Company. These policies have been consistently disajikan, kecuali jika dinyatakan lain. applied to all periods presented, unless otherwise stated.

a. Dasar penyajian laporan keuangan a. Basis of preparation of the consolidated konsolidasian financial statements

Laporan keuangan konsolidasian, kecuali The consolidated financial statements, except laporan arus kas konsolidasian, disusun for the consolidated statement of cash flows, berdasarkan konsep akrual dan biaya are prepared using the accrual basis and based perolehan historis, kecuali beberapa akun on historical costs, except for certain accounts tertentu yang diukur dengan cara sebagaimana which are measured on the basis described in yang diuraikan dalam kebijakan akuntansi di the related accounting policies of those akun yang bersangkutan. accounts.

Laporan arus kas konsolidasian disajikan The consolidated statement of cash flows is dengan menggunakan metode langsung yang presented using the direct method by mengelompokkan penerimaan dan classifying the receipts and disbursements of pengeluaran kas dan setara kas ke dalam cash and cash equivalents into operating, aktivitas operasi, investasi dan pendanaan. investing and financing activities. For the Untuk tujuan penyajian laporan arus kas purpose of the consolidated statement of cash konsolidasian, kas dan setara kas terdiri dari flows, cash and cash equivalents include cash kas dan bank, simpanan yang sewaktu-waktu on hand and in banks, deposits held at call with bisa dicairkan dan investasi lancar jangka banks and other short-term highly liquid pendek lainnya yang jatuh tempo dalam waktu investments with original maturities of 3 (three) 3 (tiga) bulan atau kurang, dikurangi dengan months or less, net of bank overdrafts. cerukan.

Seluruh angka dalam laporan keuangan All figures in the consolidated financial konsolidasian ini, dibulatkan dan disajikan statements are rounded and expressed in dalam ribuan Rupiah (“Rp”), kecuali dinyatakan thousands of Rupiah (“Rp”), unless otherwise lain. stated.

Mata uang yang digunakan dalam penyusunan The currency used in the preparation of the laporan keuangan konsolidasian adalah mata consolidated financial statements is the uang Rupiah Indonesia (Rp) yang merupakan (Rp) which is the functional mata uang fungsional Perusahaan dan entitas currency of the Company and its subsidiaries. anak.

18 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

b. Penerapan standar akuntansi baru b. Adoption of new accounting standards

Efektif tanggal 1 Januari 2019, Kelompok Effective January 1, 2019, the Group adopted Usaha menerapkan beberapa standar several new accounting standards which are akuntansi baru yang relevan terhadap relevant to the Group as follows: Kelompok Usaha berikut ini: - ISAK 33 - Transaksi Valuta Asing dan - ISAK 33 - Foreign currency Transaction Imbalan di Muka. and Advance Consideration.

- ISAK 34 - Ketidakpastian dalam - ISAK 34 - Uncertainty in the Treatment of Perlakukan Pajak Penghasilan. Income Tax.

- Amandemen PSAK 24 (2018) - Imbalan - Amendments to PSAK 24 (2018) - Kerja tentang Amendemen, Kurtailmen, Employee Benefits on the Plan atau Penyelesaian Program. Amendment, Curtailment or Settlement.

- Penyesuaian 2018 PSAK 22 - Kombinasi - 2018 Improvement to PSAK 22 – Business Bisnis. Combination.

- Penyesuaian 2018 PSAK 26 - Biaya - 2018 Improvement to PSAK 26 - Borrowing Pinjaman. Costs.

- Penyesuaian 2018 PSAK 46 - Pajak - 2018 Improvement to PSAK 46 - Income Penghasilan. Tax.

- Penyesuaian 2018 PSAK 66 - Pengaturan - 2018 Improvement to PSAK 66 - Joint Bersama. Arrangements.

Penerapan ini tidak memberikan dampak yang The adoption has no significant impact on the signifikan terhadap pelaporan keuangan dan financial reporting and disclosures in the pengungkapan dalam laporan keuangan consolidated financial statements. konsolidasian.

c. Prinsip-prinsip konsolidasi c. Principles of consolidation

Laporan keuangan konsolidasian meliputi The consolidated financial statements include laporan keuangan Perusahaan dan entitas the financial statements of the Company and its anaknya seperti yang diungkapkan dalam subsidiaries as disclosed in Note 1c. Catatan 1c. Entitas anak merupakan semua Subsidiaries are all entities over which the entitas dimana Perusahaan terekspos atau Company is exposed, or has rights, to variable memiliki hak atas imbal hasil variabel dari returns from its involvement with the entities and keterlibatannya dengan entitas tersebut dan has the ability to affect those returns through its memiliki kemampuan untuk mempengaruhi power over the entities. Thus, an entity is imbal hasil tersebut melalui kekuasaannya atas considered a subsidiary if and only if the entitas tersebut. Dengan demikian, suatu Company has power over the entity, exposure or entitas dianggap sebagai entitas anak jika dan rights to variable returns from its involvement hanya jika Perusahaan memiliki kekuasaan with the entity and the ability to use its power atas entitas tersebut, eksposur atau hak atas over the investee to affect the amount of the imbal hasil variabel dari keterlibatannya dengan Company’s returns. entitas tersebut dan kemampuan untuk menggunakan kekuasaannya atas entitas tersebut untuk mempengaruhi jumlah imbal hasil Perusahaan.

19 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)

Semua saldo dan transaksi antar entitas yang All material intercompany accounts and material, termasuk keuntungan atau kerugian transactions, including unrealized gains or yang belum direalisasi, jika ada, dieliminasi losses, if any, are eliminated to reflect the untuk mencerminkan posisi keuangan dan hasil financial position and the results of operations of operasi Kelompok Usaha sebagai satu the Group as a single business entity. kesatuan usaha. Kebijakan akuntansi di entitas Accounting policies of subsidiaries have been anak telah diubah seperlunya agar konsisten changed where necessary to ensure consistency dengan kebijakan akuntansi yang diterapkan with the policies adopted by the Group. oleh Kelompok Usaha.

Entitas anak dikonsolidasikan mulai dari Subsidiaries are fully consolidated from the date tanggal pengendalian beralih kepada on which control is transferred to the Company. Perusahaan dan tidak lagi dikonsolidasikan dari They are deconsolidated from the date on which tanggal hilangnya pengendalian. that control ceases.

Kepentingan nonpengendali (“KNP”) Non-controlling interest (“NCI”) represents the mencerminkan bagian atas laba rugi, portion of profit or loss, other comprehensive penghasilan komprehensif lain dan aset neto income and net assets of the subsidiary not dari entitas anak yang tidak dapat diatribusikan attributable directly or indirectly to the owners of secara langsung maupun tidak langsung the parent entity, which are presented in the kepada pemilik entitas induk, yang masing- consolidated statement of profit or loss and other masing disajikan dalam laporan laba rugi dan comprehensive income and under the equity penghasilan komprehensif lain konsolidasian section of the consolidated statement of financial dan sebagai ekuitas dalam laporan posisi position, respectively, separately from the keuangan konsolidasian, terpisah dari bagian corresponding portion attributable to the owners yang dapat diatribusikan kepada pemilik entitas of the parent entity. induk.

Rugi entitas anak yang tidak dimiliki secara Losses of a non-wholly owned subsidiary are penuh diatribusikan kepada KNP, bahkan jika attributed to NCI even if such losses result in a hal ini mengakibatkan KNP mempunyai saldo deficit balance for the NCI. defisit.

Jika kehilangan pengendalian atas suatu entitas In case of loss of control over a subsidiary, the anak, maka Perusahaan: Company: • menghentikan pengakuan aset (termasuk • derecognizes the assets (including setiap goodwill) dan liabilitas entitas anak; goodwill) and liabilities of the subsidiary; • menghentikan pengakuan jumlah tercatat • derecognizes the carrying amount of any setiap kepentingan non-pengendali; non-controlling interests; • menghentikan pengakuan akumulasi selisih • derecognizes the cumulative translation penjabaran, yang dicatat di ekuitas, bila ada; differences, recorded in equity, if any; • mengakui nilai wajar pembayaran yang • recognizes the fair value of the diterima; consideration received; • mengakui setiap sisa investasi pada nilai • recognizes the fair value of any investment wajarnya; retained; • mengakui setiap perbedaan yang dihasilkan • recognizes any surplus or deficit in sebagai keuntungan atau kerugian dalam consolidated statement of profit or loss; and laporan laba rugi dan penghasilan other comprehensive income; and komprehensif lain konsolidasian; dan • mereklasifikasi bagian Kelompok Usaha • reclassifies its share of components atas komponen yang sebelumnya diakui previously recognized in other sebagai penghasilan komprehensif lain ke comprehensive income to profit or loss or laba rugi, atau mengalihkan secara retained earnings, as appropriate. langsung ke saldo laba. 20 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)

Perubahan dalam bagian kepemilikan A change in the ownership interest of a Kelompok Usaha pada entitas anak yang tidak subsidiary, without a loss of control, is mengakibatkan hilangnya pengendalian, dicatat accounted for as an equity transaction. sebagai transaksi ekuitas.

d. Standar akuntansi yang telah disahkan d. Accounting standards issued but not yet namun belum berlaku efektif effective

Standar akuntansi dan interpretasi yang telah The standards and interpretations that are disahkan oleh Dewan Standar Akuntansi issued by the Indonesian Financial Accounting Keuangan (DSAK), tetapi belum berlaku efektif Standards Board (DSAK), but not yet effective untuk laporan keuangan konsolidasian tahun for current consolidated financial statements berjalan diungkapan dibawah ini. Kelompok are disclosed below. The Group intends to Usaha bermaksud untuk menerapkan standar adopt these standards, if applicable, when they tersebut, jika dipandang relevan efektif sejak 1 effective since January 1, 2020. Januari 2020.

1) PSAK 71: Instrumen Keuangan, yang 1) PSAK 71: Financial Instruments, adopted diadopsi dari IFRS 9. from IFRS 9.

PSAK ini mengatur klasifikasi dan This PSAK provides for classification and pengukuran instrumen keuangan measurement of financial instruments berdasarkan karakteristik dari arus kas based on the characteristics of contractual kontraktual dan model bisnis entitas; cash flows and business model of the metode kerugian kredit ekspektasian untuk entity; expected credit loss impairment penurunan nilai yang menghasilkan model that will result in a more timely info informasi yang lebih tepat waktu, relevan information more timely, relevant and dan dimengerti oleh pemakai laporan understandable to users of financial keuangan; akuntansi untuk lindung nilai statements; accounting for hedging that yang merefleksikan manajemen risiko reflect the entity's risk management better entitas lebih baik dengan memperkenalkan by introducing a more general persyaratan yang lebih umum berdasarkan requirements based on management's pertimbangan manajemen. judgment.

2) PSAK 72: Pendapatan dari Kontrak dengan 2) PSAK 72: Revenue from Contracts with Pelanggan, yang diadopsi dari IFRS 15. Customers, adopted from IFRS 15.

PSAK ini adalah standar tunggal untuk This PSAK is a single standard from a joint pengakuan pendapatan yang merupakan project between the International hasil dari joint project yang sukses antara Accounting Standards Board (IASB) and International Accounting Standards Board the Financial Accounting Standards Board dan Financial Accounting Standards (FASB), provides revenue recognition from Board, mengatur model pengakuan contracts with customers, where the entity pendapatan dari kontrak dengan is expected to analyze before recognizing pelanggan, sehingga entitas diharapkan the revenue. dapat melakukan analisis sebelum mengakui pendapatan.

21 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

d. Standar akuntansi yang telah disahkan d. Accounting standards issued but not yet namun belum berlaku efektif (lanjutan) effective (continued)

3) PSAK 73: Sewa, yang diadopsi dari 3) PSAK 73: Leases, adopted from IFRS 16. IFRS 16.

PSAK ini menetapkan prinsip pengakuan, This PSAK establishes the principles of pengukuran, penyajian, dan recognition, measurement, presentation, pengungkapan atas sewa dengan and disclosure of the lease by introducing memperkenalkan model akuntansi tunggal a single accounting model, with the dengan mensyaratkan untuk mengakui requirement to recognize the right-of-use aset hak-guna (right-of-use assets) dan assets and liability of the lease. There are liabilitas sewa. Terdapat 2 pengecualian 2 optional exclusions in the recognition of opsional dalam pengakuan aset dan the lease assets and liabilities: (i) short- liabilitas sewa, yakni untuk: (i) sewa term lease and (ii) lease with low-value jangka-pendek dan (ii) sewa yang aset underlying assets. pendasarnya (underlying assets) bernilai- rendah.

4) Amandemen PSAK 15 - Investasi pada 4) Amendments to PSAK 15 - Investments in Entitas Asosiasi dan Ventura Bersama: Joint Associates and Joint Ventures: Long- Kepentingan Jangka Panjang pada Entitas Term Interests in Associates and Joint Asosiasi dan Ventura Bersama. Ventures.

Amendemen ini mengatur bahwa entitas These Amendments provide that the entity juga menerapkan PSAK 71 atas instrumen also applies PSAK 71 on the financial keuangan pada entitas asosiasi atau instruments in associates or joint ventures ventura bersama dimana metode ekuitas where the equity method is not applied. tidak diterapkan. Hal ini termasuk This includes long-term interests that kepentingan jangka panjang yang secara substantively form the entity's net substansi membentuk bagian investasi investment in an associates or joint neto entitas pada entitas asosiasi atau ventures. ventura bersama.

Kelompok Usaha sedang mengevaluasi The Group is presently evaluating and has not dampak dari standar akuntansi tersebut dan yet determined the effects of these accounting belum menentukan dampaknya terhadap standards on its consolidated financial laporan keuangan konsolidasian. statements.

22 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

e. Transaksi dengan pihak-pihak berelasi e. Transactions with related parties

Orang atau anggota keluarga terdekat An individual or family member is related to the mempunyai relasi dengan Perusahaan jika Company if it: mereka: (i) memiliki pengendalian atau pengendalian (i) has control or joint control over the bersama atas Perusahaan; Company; (ii) memiliki pengaruh signifikan atas (ii) has significant influence over the Perusahaan;atau Company; or (iii) merupakan personil manajemen kunci (iii) is a member of the key management Perusahaan atau entitas induk dari personnel of the Company. Perusahaan.

Suatu pihak dianggap berelasi dengan A party is considered to be related to the Perusahaan jika: Company if: a. langsung, atau tidak langsung yang melalui a. directly, or indirectly through one or more satu atau lebih perantara, suatu pihak (i) intermediaries, the party (i) controls, is mengendalikan, atau dikendalikan, atau controlled by, or is under common control berada di bawah pengendalian bersama with, the Company; (ii) has an interest in dengan, Perusahaan; (ii) memiliki the Company that gives it significant kepentingan dalam Perusahaan yang influence over the Company; or (iii) has memberikan pengaruh signifikan atas joint control over the Company; Perusahaan; atau (iii) memiliki pengendalian bersama atas Perusahaan; b. suatu pihak adalah entitas asosiasi b. the party is an associate of the Company; Perusahaan; c. suatu pihak adalah ventura bersama c. the party is a joint venture in which the dimana Perusahaan sebagai venturer; Company is a venturer; d. suatu pihak adalah anggota dari personil d. the party is a member of the key manajemen kunci Perusahaan atau management personnel of the Company or induknya; its parent; e. suatu pihak adalah anggota keluarga dekat e. the party is a close member of the family of dari individu yang diuraikan dalam butir (a) any individual referred to in (a) or (d); atau (d); f. suatu pihak adalah entitas yang f. the party is an entity that is controlled, dikendalikan, dikendalikan bersama atau jointly controlled or significantly influenced dipengaruhi signifikan oleh atau di mana by or for which significant voting power in hak suara signifikan dimiliki oleh, langsung such entity resides with, directly or maupun tidak langsung, individu seperti indirectly, any individual referred to in (d) or diuraikan dalam butir (d) atau (e); (e); g. suatu pihak adalah suatu program imbalan g. the party is an employee benefit plan for kerja untuk imbalan kerja dari Perusahaan the benefit of employees of the Company, atau entitas yang terkait dengan or of any entity that is a related party of the Perusahaan. Company.

Seluruh transaksi dan saldo yang signifikan All significant transactions and balances dengan pihak-pihak berelasi telah diungkapkan with related parties are disclosed in dalam Catatan 40. Note 40.

23 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

f. Transaksi dan Saldo dalam Mata Uang Asing f. Foreign Currency Transactions and Balances

Laporan keuangan konsolidasian disajikan The consolidated financial statements are dalam Rupiah, yang merupakan mata uang presented in Rupiah, which is the Company’s fungsional Perusahaan dan mata uang functional currency and the Group’s penyajian Kelompok Usaha. Transaksi dalam presentation currency. Transactions involving mata uang asing dicatat dalam mata uang foreign currencies are recorded in Rupiah at the Rupiah berdasarkan kurs yang berlaku pada rates of exchange prevailing at the time the saat transaksi dilakukan. Pada akhir periode transactions are made. At the end of the pelaporan, aset dan liabilitas moneter dalam reporting period, monetary assets and liabilities mata uang asing dijabarkan ke dalam rupiah denominated in foreign currencies are adjusted berdasarkan rata-rata kurs jual dan beli yang to reflect the average buying and selling rates diterbitkan oleh Bank Indonesia pada tanggal of exchange quoted by Bank Indonesia at the terakhir transaksi perbankan pada tahun yang closing of the last banking day of the year. The bersangkutan. Laba atau rugi selisih kurs yang resulting gains or losses are credited or timbul dikreditkan atau dibebankan pada charged to current operations. operasi tahun berjalan.

Kurs yang digunakan pada tanggal The exchange rates used as of December 31, 31 Desember 2019 dan 2018 adalah sebagai 2019 and 2018 were as follows: berikut: 31 Desember/December 31, 2019 2018

Dolar AS 13.901 14.481 US Dollar Dolar Singapura 10.324 10.603 Singapore Dollar

Keuntungan atau kerugian dari selisih kurs, Realized or unrealized foreign exchange gains yang sudah terealisasi maupun yang belum, or losses arising from transactions in foreign baik yang berasal dari transaksi dalam mata currency and from the translation of foreign uang asing maupun penjabaran aset dan currency monetary assets and liabilities are liabilitas moneter dibebankan dalam laba rugi, recognized in profit or loss, except when kecuali jika ditangguhkan dalam penghasilan deferred in other comprehensive income as komprehensif lain sebagai lindung nilai arus kas qualifying cash flow hedges and qualifying net dan lindung nilai investasi neto yang memenuhi investment hedges. syarat.

g. Kas dan setara kas g. Cash and cash equivalents

Kas dan setara kas terdiri dari kas, bank dan Cash and cash equivalents are cash on hand, deposito berjangka yang jatuh tempo dalam cash in banks and time deposits with maturity 3 (tiga) bulan atau kurang dari tanggal periods of 3 (three) months or less at the time penempatannya dan tidak digunakan sebagai of placement and which are not used as jaminan atau dibatasi penggunaannya. collateral or not restricted. Deposito berjangka dengan jangka waktu lebih Time deposits with maturities of more than dari 3 (tiga) bulan tapi tidak melebihi 1 (satu) 3 (three) months but not exceeding 1 (one) year tahun dari tanggal penempatannya disajikan at the time of placement are presented as part sebagai bagian dari “investasi jangka pendek”. of “short-term investment”.

24 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan h. Financial instruments

h.1. Aset keuangan h.1. Financial assets

Pengukuran awal Initial measurements

Aset keuangan dalam lingkup PSAK Financial assets within the scope of PSAK No. 55 (Revisi 2014) diklasifikasikan No. 55 (Revised 2014) are classified as sebagai aset keuangan yang diukur pada financial assets at fair value through nilai wajar melalui laporan laba rugi dan consolidated statement of profit or loss penghasilan komprehensif lain and other comprehensive income, loans konsolidasian, pinjaman yang diberikan and receivables, held-to-maturity dan piutang, investasi dimiliki hingga jatuh investments, or available-for-sale tempo, atau aset keuangan tersedia untuk financial assets, as appropriate. The dijual, mana yang sesuai. Kelompok Group determines the classification of its Usaha menentukan klasifikasi aset financial assets at initial recognition and, keuangan pada pengakuan awal dan, jika where allowed and appropriate, re- diperbolehkan dan diperlukan, evaluate the classification of the asset at mengevaluasi kembali pengklasifikasian the end of each financial period. aset tersebut pada setiap akhir periode keuangan.

Aset keuangan pada awalnya diakui Financial assets are initially recognized at sebesar nilai wajarnya ditambah (dalam fair value plus (in the case of investments hal investasi yang tidak diukur pada nilai not at fair value through consolidated wajar melalui laporan laba rugi dan statement of profit or loss and other penghasilan komprehensif lain comprehensive income) transaction costs konsolidasian) biaya transaksi yang dapat that are directly attributable. Purchases or diatribusikan secara langsung. Pembelian sales of financial assets that require atau penjualan aset keuangan yang delivery of assets within the time frame memerlukan pengiriman aset dalam kurun established by regulation or convention in waktu yang ditetapkan oleh peraturan the marketplace (regular way trades) are atau kebiasaan yang berlaku di pasar recognized on the trade date, i.e. the date (perdagangan yang lazim) diakui pada the Group commits to purchase or sell the tanggal perdagangan, yaitu tanggal asset. The Group's financial assets Kelompok Usaha berkomitmen untuk include cash and cash equivalents, short- membeli atau menjual aset tersebut. Aset term investment, trade receivables, other keuangan Kelompok Usaha meliputi kas receivables, accrued revenues and long- dan setara kas, investasi jangka pendek, term investments. piutang usaha, piutang lain-lain, pendapatan yang masih harus diterima di muka dan investasi jangka panjang.

25 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.1. Aset keuangan (lanjutan) h.1. Financial assets (continued)

Pengukuran setelah pengakuan awal Subsequent measurement

Pengukuran aset keuangan setelah Subsequent measurement of financial pengakuan awal tergantung pada assets depends on their classification as klasifikasinya sebagai berikut: follows:

· Aset keuangan yang diukur pada nilai · Financial assets at fair value through wajar melalui laporan laba rugi. profit or loss.

Aset keuangan yang diukur pada nilai Financial assets at fair value through wajar melalui laba rugi, termasuk aset profit or loss, including financial assets keuangan untuk diperdagangkan dan held for trading and financial assets aset keuangan yang ditetapkan pada designated upon initial recognition as saat pengakuan awal untuk diukur at fair value through consolidated pada nilai wajar melalui laporan laba statement of profit or loss and other rugi dan penghasilan komprehensif comprehensive income. lain konsolidasian.

Aset keuangan yang diukur pada nilai Financial assets at fair value through wajar melalui laporan laba rugi dan consolidated statement of profit or loss penghasilan komprehensif lain and other comprehensive income are konsolidasian disajikan dalam laporan presented in the consolidated posisi keuangan konsolidasian pada statement of financial position at fair nilai wajar dengan keuntungan atau value with gains or loss from changes kerugian dari perubahan nilai wajar in fair value recognized in the diakui dalam laporan laba rugi dan consolidated statement of profit or loss penghasilan komprehensif lain and other comprehensive income. konsolidasian.

· Pinjaman yang diberikan dan piutang · Loans and receivables

Pinjaman yang diberikan dan piutang Loans and receivables are non- adalah aset keuangan non-derivatif derivative financial assets with fixed or dengan pembayaran tetap atau telah determinable payments that are not ditentukan, yang tidak mempunyai quoted in an active market. After initial kuotasi di pasar aktif. Setelah measurement, such financial assets pengukuran awal, aset keuangan are subsequently measured at tersebut selanjutnya diukur sebesar amortized cost using the Effective biaya perolehan diamortisasi Interest Rate (“EIR”) method, less (amortized cost) dengan impairment. Gains and loss are menggunakan metode Suku Bunga recognized in the statement of Efektif (“SBE”), setelah dikurangi comprehensive income when the dengan penurunan nilai. Keuntungan loans and receivables are dan kerugian diakui dalam laporan derecognized or impaired, as well as laba-rugi komprehensif pada saat through the amortization process. pinjaman dan piutang dihentikan pengakuannya atau mengalami penurunan nilai, maupun melalui proses amortisasi.

26 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued) h. Instrumen keuangan (lanjutan) h. Financial instruments (continued) h.1. Aset keuangan (lanjutan) h.1. Financial assets (continued) Pengukuran setelah pengakuan awal Subsequent measurement (continued) (lanjutan) · Pinjaman yang diberikan dan piutang · Loans and receivables (continued) (lanjutan) Aset keuangan Kelompok Usaha The Group’s financial assets include terdiri dari kas dan setara kas, cash and cash equivalents, short-term investasi jangka pendek, piutang investment, trade receivables, other usaha, piutang lain-lain, pendapatan receivables, accrued revenue and yang masih harus diterima dan long-term investments are within this investasi jangka panjang Kelompok category. Usaha termasuk dalam kategori ini. Kerugian penurunan nilai dilaporkan Impairment loss is reported as a sebagai pengurang dari nilai tercatat deduction from the carrying value of dari aset keuangan dalam kelompok the financial assets classified as loans pinjaman yang diberikan dan piutang, and receivables, and recognized in the dan diakui di dalam laporan laba rugi consolidated statement of profit or loss dan penghasilan komprehensif lain and other comprehensive income. konsolidasian. · Investasi dimiliki hingga jatuh tempo · Held-to-maturity (“HTM”) investments [Held to-maturity (“HTM”)] Aset keuangan non derivatif dengan Non-derivative financial assets with pembayaran tetap atau telah fixed or determinable payments and ditentukan dan jatuh temponya telah fixed maturities are classified as HTM ditetapkan diklasifikasikan sebagai investments when the Company has investasi dimiliki hingga jatuh tempo the positive intention and ability to hold ketika Perusahaan memiliki intensi them to maturity. positif dan kemampuan untuk memiliki aset keuangan tersebut hingga jatuh tempo. Setelah pengukuran awal, investasi After initial measurement, HTM HTM diukur pada biaya perolehan investments are measured at diamortisasi dengan menggunakan amortized cost using the EIR method, metode SBE, setelah dikurangi less impairment. Amortized cost is dengan penurunan nilai. Amortisasi calculated by taking into account any biaya perolehan dihitung dengan discount or premium on acquisition memperhitungkan diskonto atau premi and fees or costs that are an integral atas biaya perolehan atau biaya yang part of the EIR. The EIR amortization merupakan bagian integral dari SBE. is included in the statement of Amortisasi SBE dicatat dalam laporan comprehensive income. The loss laba-rugi komprehensif. Kerugian arising from impairment are yang timbul dari penurunan nilai diakui recognized in the consolidated pada laporan laba rugi dan statement of profit or loss and other penghasilan komprehensif lain comprehensive income. konsolidasian.

Kelompok Usaha tidak mempunyai The Group did not have any investasi yang dimiliki hingga jatuh held-to-maturity investments as of tempo pada tanggal 31 Desember December 31, 2019 and 2018. 2019 dan 2018.

27 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.1. Aset keuangan (lanjutan) h.1. Financial assets (continued) Pengukuran setelah pengakuan awal Subsequent measurement (continued) (lanjutan) · Aset keuangan tersedia untuk dijual · Available-for-sale (“AFS”) financial [Available-for-sale (“AFS”)] assets Aset keuangan AFS adalah aset AFS financial assets are non- keuangan non derivatif yang derivative financial assets that are ditetapkan sebagai tersedia untuk designated as available-for-sale or dijual atau yang tidak diklasifikasikan are not classified in any of the three dalam tiga kategori sebelumnya. preceding categories. After initial Setelah pengukuran awal, aset measurement, AFS financial assets keuangan AFS diukur pada nilai wajar are measured at fair value with dengan keuntungan atau kerugian unrealized gains or loss recognized in yang belum terealisasi diakui dalam equity until the assets are ekuitas sampai aset tersebut derecognized, at which time the dihentikan pengakuannya, pada saat cumulative gain or loss is recognized keuntungan atau kerugian kumulatif or determined to be impaired, and the diakui, atau terjadi penurunan nilai, cumulative gain or loss is reclassified dan laba atau rugi kumulatif from equity to comprehensive income. direklasifikasi dari ekuitas ke penghasilan komprehensif. Investasi yang diklasifikasikan The investments classified as AFS are sebagai AFS adalah sebagai berikut: as follows: • Investasi pada saham yang nilai • Investments in shares of stock wajarnya tidak tersedia dengan whose fair value is not available with kepemilikan kurang dari 20% dan equity interest of less than 20% and investasi jangka panjang lainnya other long-term investments are dinyatakan sebesar biaya stated at cost. perolehan. • Investasi pada instrumen utang • Investments in debt instruments yang tidak ditujukan untuk dimiliki which are not intended to be held to sampai jatuh tempo diklasifikasikan maturity that have steadily sebagai AFS, dan dicatat pada nilai determinable are classified as AFS, wajar. and recorded at fair value. h.2. Liabilitas keuangan h.2. Financial liabilities Pengakuan awal Initial recognition Liabilitas keuangan dalam lingkup PSAK Financial liabilities within the scope of No. 55 (Revisi 2014) dapat dikategorikan PSAK No. 55 (Revised 2014) are sebagai liabilitas keuangan yang diukur categorized as financial liabilities at fair pada nilai wajar melalui laba rugi, liabilitas value through profit or loss, financial keuangan yang diukur dengan biaya liabilities measured at amortized cost, or perolehan diamortisasi, atau derivatif as derivatives designated as hedging yang ditetapkan sebagai instrumen instruments in an effective hedge, as lindung nilai dalam lindung nilai yang appropriate. The Group determines the efektif, mana yang sesuai. Kelompok classification of its financial liabilities at Usaha menentukan klasifikasi liabilitas initial recognition. keuangan mereka pada saat pengakuan awal.

28 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial nstruments (continued)

h.2. Liabilitas keuangan (lanjutan) h.2. Financial liabilities (continued) Pengakuan awal Initial recognition Saat pengakuan awal, liabilitas keuangan Financial liabilities are recognized initially diukur pada nilai wajar dan, dalam hal at fair value, and in the case of financial liabilitas keuangan yang diukur dengan liabilities measured at amortized cost, biaya perolehan diamortisasi, termasuk inclusive of directly attributable biaya transaksi yang dapat diatribusikan transaction costs. secara langsung.

Liabilitas keuangan Kelompok Usaha The Group's financial liabilities include meliputi utang usaha, utang lain-lain, trade payables, other payables, accrued beban akrual, pinjaman bank jangka expenses, short-term bank loans, long- pendek, utang bank jangka panjang, term bank loans, bonds payable and utang obligasi dan sukuk ijarah, dan utang sukuk ijarah, and other long-term jangka panjang lainnya. liabilities.

Pengukuran setelah pengakuan awal Subsequent measurement

Pengukuran liabilitas keuangan Measurement of financial liabilities tergantung pada klasifikasinya sebagai depends on their classification as follows: berikut:

· Liabilitas keuangan yang diukur pada · Financial liabilities at fair value through nilai wajar melalui laba rugi profit or loss

Liabilitas keuangan yang diukur pada Financial liabilities at fair value through nilai wajar melalui laporan laba rugi, profit or loss, including financial termasuk liabilitas keuangan untuk liabilities held for trading and financial diperdagangkan dan liabilitas liabilities designated upon initial keuangan yang ditetapkan pada saat recognition as at fair value through pengakuan awal untuk diukur pada profit or loss. Financial liabilities are nilai wajar melalui laporan laba rugi. classified as held for trading if they are Liabilitas keuangan diklasifikasikan acquired for the purpose of selling or sebagai kelompok diperdagangkan, repurchasing in the near future. jika mereka diperoleh untuk tujuan Derivative liabilities are also classified dijual atau dibeli kembali dalam waktu as held for trading unless they are dekat. Liabilitas derivatif juga designated as effective hedging diklasifikasikan sebagai kelompok instruments. Gains or loss on liabilities yang diperdagangkan, kecuali mereka held for trading are recognized in the ditetapkan sebagai instrumen lindung consolidated statement of nilai efektif. comprehensive income.

Keuntungan atau kerugian atas Gains or loss on liabilities held for liabilitas yang dimiliki untuk trading are recognized in consolidated diperdagangkan diakui dalam laporan statement of profit or loss and other laba rugi dan penghasilan comprehensive income. komprehensif lain konsolidasian.

29 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.2. Liabilitas keuangan (lanjutan) h.2. Financial liabilities (continued)

Pengukuran setelah pengakuan awal Subsequent measurement (continued) (lanjutan)

· Pinjaman dan hutang · Loans and borrowings

Liabilitas keuangan Kelompok Usaha The Group's financial liabilities include meliputi utang usaha, utang lain-lain, trade payables, other payables, beban akrual, utang bank jangka accrued expenses, short-term bank pendek, utang bank jangka panjang, loans, long-term bank loans, bonds utang obligasi dan sukuk ijarah, dan payable and sukuk ijarah and other utang jangka panjang lainnya long-term liabilities are wiithin this termasuk dalam kategori ini. category.

Setelah pengakuan awal, pinjaman Measurement after initial recognition, dan hutang yang dikenakan bunga loans and borrowings are subsequently selanjutnya diukur pada biaya measured interest at amortized cost perolehan diamortisasi dengan using the effective interest method. menggunakan metode SBE. Gains and losses are recognized in the Keuntungan dan kerugian diakui consolidated statements of dalam laporan laba-rugi komprehensif comprehensive income when the konsolidasian pada saat liabilitas liabilities are derecognized as well as tersebut dihentikan pengakuannya through the EIR amortization process. serta melalui proses amortisasi SBE.

h.3. Saling hapus dari instrumen keuangan h.3. Offsetting of financial instruments

Aset keuangan dan liabilitas keuangan Financial assets and financial liabilities saling-hapus dan nilai bersihnya are netted off and the net amount- dilaporkan dalam laporan posisi reported in the consolidated statement of keuangan konsolidasian jika, dan hanya financial position if, and only if, currently jika, saat ini memiliki hak yang has a legally enforceable right to set off berkekuatan hukum untuk melakukan the mutually-recognized amounts and saling-hapus atas jumlah yang telah there is an intention to settle net basis, or diakui dan terdapat niat untuk to realize asset and settle the liability menyelesaikan secara bersih, atau untuk simultaneously. merealisasikan aset dan menyelesaikan liabilitasnya secara bersamaan.

h.4. Nilai wajar instrumen keuangan h.4. Fair value of financial instruments

Nilai wajar instrumen keuangan yang The fair value of financial instruments that diperdagangkan di pasar aktif pada setiap are traded in active markets at each tanggal pelaporan ditentukan dengan reporting date is determined by reference acuan pada kuotasi harga pasar atau to quoted market prices or dealer price kuotasi harga pedagang efek (harga quotations (bid price for long position and penawaran untuk posisi beli dan harga ask price for short position), without any permintaan untuk posisi jual), tidak deduction for transaction costs. termasuk pengurangan apapun untuk biaya transaksi.

30 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.4. Nilai Wajar Instrumen Keuangan h.4. Fair Value of Financial Instruments (lanjutan) (continued)

Untuk instrumen keuangan yang tidak For financial instruments where there is memiliki pasar aktif, nilai wajar ditentukan no active market, fair value is determined dengan menggunakan teknik penilaian. using valuation techniques. Such Teknik penilaian mencakup penggunaan techniques may include using recent transaksi pasar terkini yang dilakukan arm’s length market transactions, secara wajar oleh pihak-pihak yang reference to the current fair value of berkeinginan dan memahami (recent another instrument that is substantially the arm’s length market transactions), same, discounted cash flow analysis, or penggunaan nilai wajar terkini instrumen other valuation models. lain yang secara substansial sama, analisa arus kas yang didiskonto, atau model penilaian lain.

Penyesuaian risiko kredit Credit risk adjustment

Kelompok Usaha menyesuaikan harga di The Group adjusts the price in the pasar yang lebih menguntungkan untuk observable market to reflect any mencerminkan adanya perbedaan risiko differences in counterparty credit risk kredit pihak yang bertransaksi antara between instruments traded in the market instrumen yang diperdagangkan di pasar and the ones being valued for financial tersebut dengan instrumen yang dinilai asset positions. In determining the fair untuk posisi aset keuangan. Dalam value of financial liability positions, the penentuan nilai wajar posisi liabilitas Group's own credit risk associated with keuangan, risiko kredit Kelompok Usaha the instrument is taken into account. terkait dengan instrumen keuangan tersebut ikut diperhitungkan.

h.5. Biaya perolehan diamortisasi atas h.5. Amortized cost on financial instrumen keuangan instruments

Biaya perolehan diamortisasi dihitung Amortized cost is calculated using the EIR dengan menggunakan metode SBE less any allowance for impairment and dikurangi dengan penyisihan atas principal repayment or value that can not penurunan nilai dan pembayaran pokok be billed. The calculations consider the atau nilai yang tidak dapat ditagih. premium or discount on acquisition and Perhitungan tersebut mempertimbangkan includes transaction costs and fees that premium atau diskonto pada saat are an integral part of the EIR. perolehan dan termasuk biaya transaksi dan biaya yang merupakan bagian yang tak terpisahkan dari SBE.

31 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.6. Penurunan nilai atas aset keuangan h.6. Impairment of financial assets

Pada setiap akhir periode pelaporan, At the end of each reporting period the Kelompok Usaha mengevaluasi apakah Group assesses whether there is any terdapat bukti yang obyektif bahwa aset objective evidence that a financial asset or keuangan atau kelompok aset keuangan a group of financial assets is impaired. mengalami penurunan nilai.

· Aset keuangan dicatat pada biaya · Financial assets carried at amortized perolehan diamortisasi cost

Untuk pinjaman yang diberikan dan For loans and receivables carried at piutang yang dicatat pada amortized cost, the Group first biaya perolehan diamortisasi, assesses whether objective evidence Kelompok Usaha terlebih dahulu of impairment exists individually for menentukan bahwa terdapat bukti financial assets that are individually obyektif mengenai penurunan nilai significant, or collectively for financial secara individual atas aset keuangan assets that are not individually yang signifikan secara individual, atau significant. If the Group determines that secara kolektif untuk aset keuangan no objective evidence of impairment yang tidak signifikan secara individual. exists for an individually assessed Jika Kelompok Usaha menentukan financial asset, whether significant or tidak terdapat bukti obyektif mengenai not, the asset is included in a group of penurunan nilai atas aset keuangan financial assets with similar credit risk yang dinilai secara individual, terlepas characteristics and the group is aset keuangan tersebut signifikan atau collectively assessed for impairment. tidak, maka aset tersebut dimasukkan Assets that are individually assessed ke dalam kelompok aset keuangan for impairment and for which an yang memiliki karakteristik risiko kredit impairment loss is, or continues to be, yang sejenis dan kelompok usaha recognized are not included in a menilai penurunan nilai kelompok collective assessment of impairment. tersebut secara kolektif. Aset yang penurunan nilainya dinilai secara individual, dan untuk itu kerugian penurunan nilai diakui atau tetap diakui, tidak termasuk dalam penilaian penurunan nilai secara kolektif.

Jika terdapat bukti obyektif bahwa If there is objective evidence that an kerugian penurunan nilai telah terjadi, impairment loss has occurred, the jumlah kerugian tersebut diukur amount of the loss is measured as the sebagai selisih antara nilai tercatat difference between the asset’s carrying aset dengan nilai kini estimasi arus kas amount and the present value of masa datang (tidak termasuk kerugian estimated future cash flows (excluding kredit di masa mendatang yang belum future expected credit losses that have terjadi). Nilai kini estimasi arus kas not yet been incurred). The present masa datang didiskonto dengan value of the estimated future cash flows menggunakan suku bunga efektif awal is discounted at the financial asset’s dari aset keuangan tersebut. original effective interest rate.

32 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.6. Penurunan nilai atas aset keuangan h.6. Impairment of financial assets (lanjutan) (continued)

· Aset keuangan dicatat pada biaya · Financial assets carried at amortized perolehan diamortisasi (lanjutan) cost (continued)

Jika suatu aset keuangan yang If a “Loans and Receivables” financial dikelompokkan sebagai “Pinjaman asset has a variable interest rate, the yang diberikan dan Piutang” memiliki discount rate for measuring impairment suku bunga variabel, maka tingkat loss is the current effective interest diskonto yang digunakan untuk rate. mengukur setiap kerugian penurunan nilai adalah suku bunga efektif yang berlaku.

Nilai tercatat atas aset keuangan The carrying amount of the financial dikurangi melalui penggunaan pos asset is reduced through the use of an cadangan penurunan nilai dan jumlah allowance for impairment account and kerugian yang terjadi diakui dalam the amount of the loss is recognized in laporan laba rugi dan penghasilan consolidated statement of profit or loss komprehensif lain konsolidasian. and other comprehensive income. Pendapatan bunga selanjutnya diakui Interest income continues to be sebesar nilai tercatat yang diturunkan accrued on the reduced carrying nilainya berdasarkan tingkat suku amount based on the original effective bunga efektif awal dari aset keuangan. interest rate of the financial asset. Pinjaman yang diberikan dan piutang Loans and receivables, together with beserta dengan cadangan terkait the associated allowance, are written dihapuskan jika tidak terdapat off when there is no realistic prospect kemungkinan yang realistis atas of future recovery and all collateral has pemulihan di masa mendatang dan been realized or has been transferred seluruh agunan telah terealisasi atau to the Group. If, in a subsequent year, dialihkan kepada Kelompok Usaha. the amount of the estimated Jika, pada tahun berikutnya, nilai impairment loss increases or estimasi kerugian penurunan nilai aset decreases because of an event keuangan bertambah atau berkurang occurring after the impairment was karena peristiwa yang terjadi setelah recognized, the previously recognized penurunan nilai diakui, maka kerugian impairment loss is increased or penurunan nilai yang diakui reduced by adjusting the allowance for sebelumnya bertambah atau impairment account. If a future write-off berkurang dengan menyesuaikan pos is later recovered, the recovery is cadangan penurunan nilai. Jika di recognized in profit or loss. masa mendatang penghapusan tersebut dapat dipulihkan, jumlah pemulihan tersebut diakui di laba rugi.

33 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.6. Penurunan nilai atas aset keuangan h.6. Impairment of financial assets (lanjutan) (continued)

· Aset keuangan AFS · AFS financial assets Dalam hal investasi ekuitas In the case of equity investment diklasifikasikan sebagai aset classified as an AFS financial asset, keuangan tersedia untuk dijual, bukti objective evidence would include a obyektif akan termasuk penurunan significant or prolonged decline in the nilai wajar yang signifikan dan fair value of the investment below its berkepanjangan di bawah nilai cost. perolehan investasi tersebut. Ketika terdapat bukti penurunan nilai, Where there is evidence of impairment, kerugian kumulatif - yang diukur the cumulative loss - measured as the sebagai selisih antara biaya perolehan difference between the acquisition cost dan nilai wajar kini, dikurangi kerugian and the current fair value, less any penurunan nilai investasi yang impairment loss on that investment sebelumnya diakui dilaba rugi previously recognized in profit or loss, direklasifikasikan dari ekuitas ke laba is reclassified from equity to profit or rugi. Kerugian penurunan nilai atas loss. Impairment losses on equity investasi ekuitas tidak dihapuskan investments are not reversed through melalui laba rugi; sedangkan profit or loss; increases in their fair peningkatan nilai wajar setelah value after impairment are recognized penurunan nilai diakui dalam ekuitas. in equity. Dalam hal instrumen utang In the case of a debt instrument diklasifikasikan sebagai aset classified as an AFS financial asset, keuangan tersedia untuk dijual, impairment is assessed based on the penurunan nilai dievaluasi same criteria as financial assets carried berdasarkan kriteria yang sama at amortized cost. Future interest dengan aset keuangan yang dicatat income is based on the reduced sebesar biaya perolehan diamortisasi. carrying amount and is accrued based Pendapatan bunga di masa on the rate of interest used to discount mendatang didasarkan pada nilai future cash flows for the purpose of tercatat yang diturunkan nilainya dan measuring impairment loss. Such diakui berdasarkan suku bunga yang accrual of interest income is recorded digunakan untuk mendiskonto arus as part of the “Finance Income” kas masa datang dalam pengukuran account in the consolidated statement kerugian penurunan nilai. Pendapatan of comprehensive income. bunga yang masih harus dibayar tersebut dicatat sebagai bagian dari akun “Pendapatan Keuangan” dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian. Jika pada periode/tahun berikutnya, If in a subsequent period/year, the fair nilai wajar atas instrumen utang value of a debt instrument increases meningkat dan peningkatan tersebut and the increase can be objectively secara obyektif dapat dikaitkan related to an event occurring after the dengan peristiwa yang timbul setelah impairment loss was recognized in pengakuan kerugian penurunan nilai profit or loss, the impairment loss is diakui dilaba rugi, kerugian penurunan reversed through consolidated nilai tersebut harus dipulihkan melalui statement of profit or loss and other laporan laba rugi dan penghasilan comprehensive income. komprehensif lain konsolidasian.

34 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

h. Instrumen keuangan (lanjutan) h. Financial instruments (continued)

h.7. Penghentian pengakuan aset dan h.7. Derecognition of financial assets and liabilitas keuangan liabilities

Aset keuangan Financial assets

Penghentian pengakuan atas suatu aset A financial asset (or where applicable, a keuangan (atau apabila dapat diterapkan, part of a financial asset or part of a group untuk bagian dari aset keuangan atau of similar financial assets) is derecognized bagian dari kelompok aset keuangan when: (1) the contractual rights to receive sejenis) terjadi bila: (1) hak kontraktual cash flows from the asset have expired; or atas arus kas yang berasal dari aset (2) the Group has transferred its rights to keuangan tersebut berakhir; atau (2) receive cash flows from the financial asset Kelompok Usaha memindahkan hak or has assumed an obligation to pay the untuk menerima arus kas yang berasal received cash flows in full without material dari aset keuangan tersebut atau delay to a third party under a “pass- menanggung kewajiban untuk membayar through” arrangement, and either (a) the arus kas yang diterima tersebut tanpa Group has transferred substantially all the penundaan yang signifikan kepada pihak risks and rewards of the asset, or (b) the ketiga melalui suatu kesepakatan Group has neither transferred nor retained penyerahan dan salah satu diantara (a) substantially all the risks and rewards of the Kelompok Usaha secara substansial financial asset, but has transferred control memindahkan seluruh risiko dan manfaat of the financial asset. atas kepemilikan aset keuangan tersebut, atau (b) Kelompok Usaha secara substansial tidak memindahkan dan tidak memiliki seluruh risiko dan manfaat atas kepemilikan aset keuangan tersebut, namun telah memindahkan pengendalian atas aset tersebut.

Liabilitas keuangan Financial liabilities

Liabilitas keuangan dihentikan A financial liability is derecognized when pengakuannya ketika kewajiban yang the obligation under the liability is ditetapkan dalam kontrak dihentikan atau discharged or cancelled or has expired. dibatalkan atau kadaluwarsa.

Ketika liabilitas keuangan awal digantikan When an existing financial liability is dengan liabilitas keuangan lain dari replaced by another from the same lender pemberi pinjaman yang sama dengan on substantially different terms, or the ketentuan yang berbeda secara terms of an existing liability are substansial, atau modifikasi secara substantially modified, such an exchange substansial atas liabilitas keuangan yang or modification is treated as a saat ini ada, maka pertukaran atau derecognition of the original liability and the modifikasi tersebut dicatat sebagai recognition of a new liability, and the penghapusan liabilitas keuangan awal difference in the respective carrying dan pengakuan liabilitas keuangan baru amounts is recognized in profit or loss. dan selisih antara nilai tercatat liabilitas keuangan tersebut diakui di laba rugi.

35 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

i. Persediaan i. Inventories

Persediaan dinyatakan berdasarkan nilai Inventories are stated at the lower of cost or net terendah antara biaya perolehan atau nilai realizable value. The inventory costing method realisasi neto. Pembebanan biaya is weighted average. Allowance for inventory pemakaiannya dilakukan berdasarkan metode obsolescence/losses is provided to reduce the rata-rata tertimbang. Cadangan carrying value of inventories to their net keusangan/kerugian persediaan ditetapkan realizable value. untuk menurunkan nilai tercatat persediaan ke nilai realisasi netonya.

Nilai realisasi neto adalah taksiran harga jual Net realizable value is the estimated selling dalam kegiatan usaha normal setelah dikurangi price in the ordinary course of business less dengan taksiran biaya penyelesaian dan estimated cost of completion and estimated taksiran biaya yang diperlukan untuk cost necessary to make the sale. melaksanakan penjualan.

j. Beban dibayar di muka j. Prepaid expenses

Biaya dibayar dimuka diamortisasi selama Prepaid expenses are amortized over their masa manfaat masing-masing biaya dengan beneficial periods using the straight-line metode garis lurus. method.

k. Investasi pada entitas asosiasi k. Investments in associates Investasi Perusahaan pada entitas asosiasi The Company’s investments in associates are diukur dengan menggunakan metode ekuitas. accounted for using the equity method. An Entitas asosiasi adalah suatu entitas di mana associates is an entity in which the Company Perusahaan mempunyai pengaruh signifikan. has significant influence. Under the equity Sesuai dengan metode ekuitas, nilai perolehan method, the cost of investment is increased or investasi ditambah atau dikurang dengan decreased by the Company’s share in net bagian Perusahaan atas laba atau rugi neto, earnings or losses of, and dividends received dan penerimaan dividen dari entitas asosiasi from, the associates since the date of sejak tanggal perolehan. acquisition. Laporan laba rugi dan penghasilan The consolidated statement of profit or loss and komprehensif lain konsolidasian mencerminkan other comprehensive income reflects the share bagian atas hasil operasi dari entitas asosiasi. resulting from the operations of the associates. Bila terdapat perubahan yang diakui langsung Where there has been a change recognized pada ekuitas dari entitas asosiasi, Perusahaan directly in the equity of the associates, the mengakui bagiannya atas perubahan tersebut Company recognizes its share of any such dan mengungkapkan hal ini, jika dapat changes and discloses this, when applicable, in diterapkan, dalam laporan perubahan ekuitas the consolidated statement of changes in konsolidasian. Laba atau rugi yang belum equity. Unrealized gains and losses resulting direalisasi sebagai hasil dari transaksi-transaksi from transactions between the Company and antara Perusahaan dengan entitas asosiasi the associates are eliminated to the extent of dieliminasi pada jumlah sesuai dengan the Company’s interest in the associates. kepentingan Perusahaan dalam entitas asosiasi. Perusahaan menentukan apakah perlu untuk The Company determines whether it is mengakui rugi penurunan nilai atas investasi necessary to recognize an impairment loss on Perusahaan dalam entitas asosiasi. its investments in associates. The Company Perusahaan menentukan pada setiap tanggal determines at each reporting date whether pelaporan apakah terdapat bukti yang obyektif there is objective evidence that any of its yang mengindikasikan bahwa investasi dalam investments in associates is impaired. entitas asosiasi mengalami penurunan nilai.

36 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

k. Investasi pada entitas asosiasi (lanjutan) k. Investments in associates (continued)

Dalam hal ini, Perusahaan menghitung jumlah In this the case, the Company calculates the penurunan nilai berdasarkan selisih antara amount of impairment based on the difference jumlah terpulihkan atas investasi dalam entitas between the recoverable amount of the asosiasi dan nilai tercatatnya dan mengakui investment in the associates and its carrying penurunan nilai tersebut dalam laporan laba value and recognizes the impairment in rugi dan penghasilan komprehensif lain consolidated statement of profit or loss and konsolidasian. other comprehensive income.

l. Properti investasi l. Investment properties

Properti investasi dinyatakan sebesar biaya Investment properties are stated at cost, perolehan termasuk biaya transaksi dikurangi including transaction costs, less accumulated akumulasi penyusutan dan penurunan nilai, depreciation and impairment, except for land kecuali tanah tidak disusutkan. Jumlah tercatat which is not depreciated. The carrying amount termasuk bagian biaya penggantian dari includes the cost of replacing part of an existing properti investasi yang ada pada saat terjadinya investment property when the fee is occured, if biaya, jika kriteria pengakuan terpenuhi dan the recognition criteria are met and excludes tidak termasuk biaya harian penggunaan the costs of the daily use of an investment properti investasi. property.

Perusahaan telah memilih untuk menggunakan The Company has chosen to use the cost model biaya untuk pengukuran aset properti model for the measurement of investment investasi. property assets.

Properti investasi terdiri dari tanah, bangunan Investment properties consist of land, buildings dan prasarana yang dikuasai Perusahaan untuk and infrastructure controlled by the Company to menghasilkan sewa atau untuk kenaikan nilai earn rents or for capital appreciation or both, atau kedua-duanya, dan tidak untuk digunakan rather than for use in the production or provision dalam produksi atau penyediaan barang atau of goods or services or for administrative jasa untuk tujuan administratif atau dijual dalam purposes or sale in the ordinary course of kegiatan usaha sehari-hari. business.

m. Aset tetap m. Fixed assets

Aset tetap, kecuali hak atas tanah, dinyatakan Fixed assets, except landrights, are stated at sebesar biaya perolehan dikurangi akumulasi cost less accumulated depreciation and penyusutan dan rugi penurunan nilai, jika ada. impairment loss, if any. Such cost includes the Biaya perolehan termasuk biaya penggantian cost of replacing part of the fixed assets when bagian aset tetap saat biaya tersebut terjadi, that cost is incurred, if the recognition criteria are jika memenuhi kriteria pengakuan. met.

Selanjutnya, pada saat inspeksi yang Likewise, when a major inspection is performed, signifikan dilakukan, biaya inspeksi itu diakui its cost is recognized in the carrying amount of ke dalam jumlah tercatat (carrying amount) the fixed assets as a replacement if the aset tetap sebagai suatu penggantian jika recognition criteria are met. In the case of memenuhi kriteria pengakuan. Apabila mandatory dismantling and asset removals, the terdapat kewajiban untuk membongkar dan related costs are added to the cost of the memindahkan aset tetap maka beban yang relevant assets and obligations related to the terkait akan ditambahkan ke biaya perolehan cost are recognized to cover the costs. aset tetap yang bersangkutan dan kewajiban atas biaya terkait tersebut diakui.

37 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

m. Aset tetap (lanjutan) m. Fixed assets (continued)

Semua biaya pemeliharaan dan perbaikan yang All other repairs and maintenance costs that do tidak memenuhi kriteria pengakuan diakui not meet the recognition criteria are recognized dalam laporan laba rugi dan penghasilan in consolidated statement of profit or loss and komprehensif lain konsolidasian pada saat other comprehensive income as incurred. terjadinya. Aset tetap, kecuali hak atas tanah, Depreciation of fixed assets, except for disusutkan dengan metode garis lurus landrights, is computed using the straight-line berdasarkan estimasi masa manfaat masing- method over the estimated useful lives of the masing aset tetap sebagai berikut: assets as follows:

Umur Ekonomi/ Useful Life Golongan Aset (Tahun/Years) Group of Assets

Bangunan (lapangan) 5 - 40 Structure (fields) Gedung-gedung 20 - 40 Buildings Alat perhubungan udara 10 - 15 Aviation equipment Kendaraan 5 & 10 Vehicle Instalasi 5 - 20 Instalation Peralatan 5 - 15 Equipment

Biaya pengurusan untuk memperpanjang atau The legal cost of landrights to extend or renew memperbaharui hak atas tanah diakui sebagai the landrights are recognized as intangible aset takberwujud dan diamortisasi sepanjang assets and amortized over the shorter of the umur hukum hak atau umur ekonomis tanah, rights’ legal life or the land’s economic life. mana yang lebih pendek.

Biaya pemeliharaan dan perbaikan diakui Maintenance and repair costs are recognized sebagai beban pada saat terjadinya. as an expense as incurred. Expenditures that Pengeluaran yang memperpanjang masa extend the useful lives of fixed assets are manfaat aset tetap dikapitalisasi dan disusutkan capitalized and depreciated in accordance with sesuai dengan tarif penyusutan yang sesuai. the applicable depreciation rates.

Aset dalam penyelesaian dinyatakan sebesar Construction in progress is stated at cost based biaya perolehan yang ditentukan berdasarkan on accrual bases and progress on costructions basis akrual dan kemajuan fisik pekerjaan serta and presented as part of fixed assets. Cost disajikan sebagai bagian dari aset tetap. Biaya includes capitalized interest charges and perolehan termasuk kapitalisasi beban bunga gain/losses on foreign exchange, if any, dan laba/rugi selisih kurs, jika ada, atas incurred on borrowings and other costs incurred pinjaman dan biaya lainnya yang terjadi to finance the said asset construction (Note 2o, sehubungan dengan pembiayaan aset dalam “Capitalization of Borrowing Costs”). Accrual of penyelesaian tersebut (Catatan 2o, “Kapitalisasi acquisition of fixed assets is presented as part Biaya Pinjaman”). Akrual sehubungan dengan of other payables account. perolehan aset tetap disajikan sebagai bagian dari akun utang lain-lain.

Akumulasi biayanya akan dipindahkan ke The accumulated cost will be reclassified to the dalam kelompok aset tetap yang bersangkutan relevant fixed assets account when the ketika aset secara substansial selesai construction is substantially completed and the dikerjakan dan siap untuk digunakan. constructed asset is ready for its intended use.

38 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

m. Aset tetap (lanjutan) m. Fixed assets (continued)

Biaya pemeliharaan dan perbaikan diakui The cost of normal maintenance and repair sebagai beban pada saat terjadinya; biaya work is charged to operations as incurred; the perbaikan yang signifikan dikapitalisasi sebagai cost of significant improvements or betterments penggantian apabila memenuhi kriteria is capitalized as replacements if the recognition pengakuan. Nilai kini dari perkiraan biaya criteria are satisfied. The present value of the pembongkaran aset setelah aset digunakan expected cost for the decommissioning of the termasuk dalam nilai perolehan aset tersebut asset after its use is included in the cost of the jika kriteria pengakuan untuk penetapannya asset if the recognition criteria are met. terpenuhi.

Ketika bagian-bagian penting dari aset tetap When significant parts of fixed assets are perlu untuk diganti, Kelompok Usaha mencatat required to be replaced at intervals, the Group bagian-bagian tersebut sebagai aset individual recognizes such parts as individual assets with dengan masa manfaat dan penyusutan yang specific useful lives and depreciation. spesifik.

Aset tetap tidak diakui lagi pada saat Fixed asset are derecognized upon disposal or dilepaskan atau tidak ada manfaat when no future economic benefits are expected keekonomisan masa yang akan datang yang from its use or disposal. Any gain or loss on diharapkan dari penggunaan atau derecognition of the asset is recognized in the pelepasannya. Laba atau rugi yang timbul dari consolidated statement of profit or loss and penghentian pengakuan aset tetap, diakui other comprehensive income in the period the dalam laporan laba rugi dan penghasilan asset is derecognized, which represents the komprehensif lain konsolidasian pada periode difference between the net disposal proceeds penghentian pengakuan aset, yang merupakan and the carrying amount of the asset. selisih antara hasil pelepasan bersih dan jumlah tercatat aset.

Nilai sisa, masa manfaat dan metode The residual values, useful lives and methods penyusutan aset tetap ditelaah dan disesuaikan of depreciation of fixed assets are reviewed and secara prospektif, jika perlu, pada setiap akhir adjusted prospectively, if appropriate, at the tahun buku. end of each financial year.

n. Aset takberwujud n. Intangible assets

Aset takberwujud diukur sebesar nilai An intangible asset is measured on initial perolehan pada pengakuan awal. Setelah recognition at cost. Following initial recognition, pengakuan awal, aset takberwujud dicatat pada the intangible asset is carried at cost less any nilai perolehan dikurangi akumulasi amortisasi accumulated amortization and any dan akumulasi rugi penurunan nilai. Umur accumulated impairment loss. The useful life of manfaat aset takberwujud dinilai apakah the intangible asset is assessed to be either terbatas atau tidak terbatas. Aset takberwujud finite or indefinite. An intangible asset with finite dengan umur terbatas diamortisasi selama life is amortized over the asset’s useful umur manfaat ekonomi aset dan dievaluasi economic life and assessed for impairment apabila terdapat indikator adanya penurunan whenever there is an indication that the nilai untuk aset takberwujud. Periode dan intangible asset may be impaired. The metode amortisasi untuk aset takberwujud amortization period and the amortization dengan umur terbatas ditelaah setidaknya method for an intangible asset with a finite setiap akhir tahun tutup buku. useful life are reviewed at least at each financial year end.

39 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

n. Aset takberwujud (lanjutan) n. Intangible assets (continued)

Aset takberwujud dihentikan pengakuannya An intangible asset is derecognized when: pada saat: i. dijual; atau i. on disposed; or ii. ketika tidak ada manfaat ekonomis di masa ii. when no future economic benefits are depan yang dapat diharapkan dari expected from its use or disposal. penggunaan atau penjualan aset tersebut.

Aset takberwujud Perusahaan berupa The Company’s intangible assets are in form of perangkat lunak. software.

o. Kapitalisasi biaya pinjaman o. Capitalization of borrowing costs

Biaya pinjaman yang dapat diatribusikan Borrowing costs that are directly attributable to langsung dengan perolehan, konstruksi atau the acquisition, construction or production of a pembuatan aset kualifikasian dikapitalisasi qualifying asset are capitalized as part of the sebagai bagian biaya perolehan aset tersebut. cost of the related asset. Other borrowing costs Biaya pinjaman lainnya diakui sebagai beban are recognized as expenses in the period in pada periode terjadinya. Biaya pinjaman dapat which they are incurred. Borrowing costs may meliputi beban bunga, beban keuangan dalam include interest, finance charges in respect of sewa pembiayaan yang diakui sesuai dengan finance leases recognized in accordance with PSAK No. 26 (Revisi 2014) dan selisih kurs PSAK No. 26 (Revised 2014) and foreign yang berasal dari pinjaman dalam mata uang exchange differences arising from foreign asing sepanjang selisih kurs tersebut currency borrowings to the extent that they are diperlakukan sebagai penyesuaian atas biaya regarded as adjustments to interest costs. bunga.

Kapitalisasi biaya pinjaman dimulai pada saat Capitalization of borrowing costs commences dimulainya aktivitas yang diperlukan untuk when the activities to prepare the qualifying mempersiapkan aset kualifikasian agar dapat asset for its intended use have started and the digunakan sesuai dengan maksudnya dan expenditures for the qualifying asset and the pengeluaran untuk aset dan biaya pinjamannya borrowing costs have been incurred. telah terjadi. Kapitalisasi biaya pinjaman Capitalization of borrowing costs ceases when dihentikan pada saat selesainya secara all the activities necessary to prepare the substansial seluruh aktivitas yang diperlukan qualifying asset for its intended use are untuk mempersiapkan aset kualifikasian agar substantially completed. dapat digunakan sesuai dengan maksudnya. p. Beban akrual p. Accrued expenses Beban akrual diakui jika Kelompok Usaha Accrued expense is recognized when the memiliki kewajiban kini (baik hukum maupun Group has a present obligation (legal and konstruktif) sebagai akibat peristiwa masa lalu, constructive), as a result of a past event, it is besar kemungkinannya penyelesaian probable that an outflow of resources kewajiban tersebut mengakibatkan arus keluar embodying economic benefits will be required sumber daya yang mengandung manfaat to settle the obligation and a reliable estimate ekonomi dan estimasi yang andal mengenai can be made of the amount of the obligation. jumlah kewajiban tersebut dapat dibuat.

Beban akrual ditelaah pada setiap tanggal Accrued expense are reviewed at each pelaporan dan disesuaikan untuk reporting date and adjusted to reflect the current mencerminkan estimasi terbaik yang paling kini. best estimate. If it is no longer probable that an Jika arus keluar sumber daya untuk outflow of resources embodying economic menyelesaikan kewajiban kemungkinan besar benefits will be required to settle the obligations, tidak terjadi maka provisi dibatalkan. the provisions are reversed.

40 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

q. Pendapatan diterima di muka q. Unearned revenues

Pendapatan yang diterima di muka adalah Unearned revenues are cash received from penerimaan uang dari pihak lain sehubungan other parties in connection with the services dengan jasa yang akan dilakukan oleh that will be performed by the Group in the future Kelompok Usaha di masa depan tetapi jasa but the services not yet delivered to that parties. tersebut belum diserahkan kepada pihak tersebut.

r. Imbalan kerja dan imbalan pasca kerja r. Employee benefits and post-employment benefits

Imbalan kerja jangka pendek Short-term employee benefits

Kelompok Usaha mengakui liabilitas imbalan The Group recognizes short-term employee kerja jangka pendek ketika jasa diberikan oleh benefits liability when services are rendered karyawan dan imbalan atas jasa tersebut akan and the compensation for such services are to dibayarkan dalam waktu dua belas bulan be paid within twelve months after such setelah jasa tersebut diberikan. services are rendered.

Imbalan pasca kerja Post-employment benefits

Biaya untuk penyediaan manfaat dibawah The cost of providing benefits under the defined program pensiun imbalan pasti ditentukan benefit plan is determined using the projected- dengan menggunakan metode projected-unit- unit-credit method. credit.

Pengukuran kembali atas liabilitas (aset) Remeasurement on net deferred benefit imbalan pasti bersih, yang disebut sebagai liabilitas (asset), which recognized as other penghasilan komprehesif lain, terdiri dari: comprehensive income, consist of: i. Keuntungan atau kerugian aktuarial; i. Actuarial gain or losses; ii. Imbalan hasil atas aset program, tidak ii. Return on program aset, is not consists of termasuk jumlah yang dimasukkan dalam amount included in liabilitas (asset) net bunga bersih atas liabilitas (aset); interest; iii. Setiap perubahan dampak batas aset, iii. Every changes in asset ceiling, is not tidak termasuk jumlah yang dimasukkan consists of amount included in liabilities dalam bunga bersih atas liablitas (aset). (asset) net interest.

Pengukuran kembali atas liabilitas (aset) Remeasurement on net defined benefit imbalan pasti bersih, yang diakui sebagai liabilities (asset) which is recognized as part of penghasilan komprehensif lain tidak other comprehensive income will not be direklasifikasi ke laporan laba rugi dan reclassified to consolidated statement of profit penghasilan komprehensif lain konsolidasian or loss and other comprehensive income in the pada periode berikutnya. next period.

Biaya jasa lalu yang timbul dari amendemen Past service cost arising from amendment or atau kurtailmen program diakui sebagai beban curtailment programs are recognized as dalam laporan laba rugi dan penghasilan expense in consolidated statement of profit or komprehensif lain konsolidasian pada saat loss and other comprehensive income when terjadinya. incurred.

Kurtailmen terjadi apabila Kelompok Usaha A curtailment occurs when the Group either mengurangi secara signifikan jumlah pekerja significantly reduce the number of employees yang ditanggung oleh program, terminasi atau covered by a plan, termination or suspension of penghentian program. the program.

41 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued) r. Imbalan kerja dan imbalan pasca kerja r. Employee benefits and post-employment (lanjutan) benefits (continued) Imbalan pasca kerja (lanjutan) Post-employment benefits (continued) Perusahaan memiliki progam dana pensiun The Company has pension defined benefit manfaat pasti dan program tunjangan hari tua. funds program and annuities program. Selain itu, Perusahaan memberikan tunjangan Moreover, the Company provides benefits to kepada pegawai yang telah memenuhi employees who have fulfilled the requirements persyaratan ketentuan yaitu tunjangan of the provisions, which are housing allowance, perumahan, penghargaan pengabdian dan loyaty reward and health insurance to jaminan kesehatan kepada pensiunan. pensioners. Pada tanggal 15 November 1999, Perusahaan On November 15, 1999, the Company obtained memperoleh persetujuan dari Menteri approval from the Minister of Finance (No.KEP- Keuangan (No.KEP-39/KM.17/1999) untuk 39/KM.17/1999) to establish a separate membentuk Lembaga terpisah yang mengelola Institution that manages pension funds in the dana pensiun dalam bentuk Program Dana form of a Defined Benefit Pension Plan (PPMP) Pensiun Manfaat Pasti (PPMP) dan Program and a Definite Contribution Pension Program Pensiun Iuran Pasti (PPIP) bernama Dana (Rencana Pensiun Iuran Pasti PPIP) named Pensiun Angkasa Pura I (DPAP I), untuk Dana Angkasa Pura I (DPAP I), to manage on mengelola atas nama para anggota, semua behalf of the members, all of the wealth in order kekayaan agar dapat memenuhi kewajiban to fulfill the obligation to retire from the pensiun dari Perusahaan. Company. Jumlah kontribusi PPMP terdiri dari kontribusi The amount of contribution of PPMP consists of karyawan dan Perusahaan yang masing- employees and the Company’s contributions masing dihitung sebesar 5% dan 27,64% dari which are calculated as 5% and 27.64%, penghasilan dasar pensiun, sedangkan jumlah respectively, from the basic pension income, kontribusi PPIP terdiri dari kontribusi karyawan while the amount of contribution of PPIP dan Perusahaan yang masing-masing dihitung consists of employees and the Company’s sebesar 5% dan maksimal 25% dari paket gaji contributions, which are calculated at 5% and a peserta. maximum of 25% of the participant's salary package. Pada tanggal 6 Mei 2003, penyelenggaraan On May 6, 2003, the provision of retirement program tunjangan hari tua dikelola oleh benefit program is managed by Yayasan Yayasan Kesejahteraan Karyawan Angkasa Kesejahteraan Karyawan Angkasa Pura I Pura I (YAKKAP I) berdasarkan Keputusan (YAKKAP I) based on Joint Decree of the Bersama Direksi Perum Angkasa Pura I dan Directors of Perum Angkasa Pura I and Perum Angkasa Pura II No. KEP.305/ Perum Angkasa Pura II Number P.30.7.1/1988 dan KEP.165A/PAP.I/X/1988 KEP.305/KP.30.7.1/1988 and tanggal 1 Oktober 1988 jo Perjanjian Kerja KEP.165A/PAP.I/X/1988 dated October 1, Bersama Periode 2003-2005 antara 1988 jo Joint Working Agreement for the period PT Angkasa Pura I dengan Serikat Pekerja 2003-2005 between PT Angkasa Pura I and Angkasa Pura I No.SP.06/HK.10/2003-DU, Labor Union of No.SP.AP.I.01/PKB/2003. PT Angkasa Pura I. SP.06/HK.10/2003-DU, No.SP.AP.I.01/PKB/2003. Program THT menyediakan manfaat The THT program provides payment benefits at pembayaran sekaligus dengan ketentuan nilai the same time with the terms of the contribution iuran adalah sebesar 5% (beban pegawai fee of 5% (Company employee expense), 3% Perusahaan), 3% (beban pegawai (employee assignment), 1% (assigned diperbantukan), 1% (beban pegawai charges) of the Basic Income Retirement Fees ditugaskan) dari nilai Penghasilan Dasar (PhDTHT) and the Company’s contributions Tunjangan Hari Tua (PhDTHT) dan iuran that have been approved by the General Perusahaan yang telah mendapat persetujuan Meeting of Shareholders (GMS) which is fully Rapat Umum Pemegang Saham (RUPS) yang paid at the beginning of the current year. dibayarkan secara sekaligus pada awal tahun berjalan. 42 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

r. Imbalan kerja dan imbalan pasca kerja r. Employee benefits and post-employment (lanjutan) benefits (continued)

Imbalan pasca kerja (lanjutan) Post-employment benefits (continued)

Perusahaan juga memberikan imbalan pasca The Company also provides other post- kerja lainnya, seperti tanda penghargaan dan employment benefits, such as rewards and cuti jangka panjang. Imbalan berupa uang long-term leave. Rewards in the form of award penghargaan diberikan apabila karyawan money are given when employees work until bekerja hingga mencapai usia pensiun. they reach retirement age.

Kelompok Usaha harus menyediakan imbalan The Group is required to provide a minimum pensiun dengan jumlah minimal sesuai dengan amount of pension benefits in accordance with Undang-Undang (“UU”) Ketenagakerjaan Labour Law No. 13/2003 and the Group’s No. 13/2003 dan Perjanjian Kerja Bersama Collective Labour Agreement (“CLA”), (“PKB”), mana yang lebih tinggi. Karena UU whichever is higher. Since the Labour Law and Ketenagakerjaan atau PKB menentukan rumus the CLA set the formula for determining the tertentu untuk menghitung jumlah minimal minimum amount of benefits, in substance imbalan pensiun, pada dasarnya program pension plans under the Labour Law or the CLA pensiun berdasarkan UU Ketenagakerjaan atau represent defined benefit plans. PKB adalah program pensiun imbalan pasti. Liabilitas imbalan pensiun merupakan nilai kini The pension benefit obligation is the present liabilitas imbalan pasti pada akhir periode value of the defined benefit obligation at end pelaporan dikurangi dengan nilai wajar aset reporting period less the fair value of plan program. Liabilitas imbalan pasti dihitung setiap assets. The defined benefit obligation is tahun oleh aktuaris independen dengan calculated by an independent actuary using the menggunakan metode projected-unit-credit. projected-unit-credit method. Nilai kini liabilitas manfaat pasti ditentukan The present value of the defined benefit dengan mendiskontokan estimasi arus kas obligation is determined by discounting the masa depan dengan menggunakan tingkat estimated future cash outflows using the yield at bunga obligasi pemerintah jangka panjang pada end of the reporting period of long-term akhir periode pelaporan dalam mata uang government bonds denominated in rupiah in rupiah sesuai dengan mata uang dimana which the benefits will be paid and that have imbalan tersebut akan dibayarkan dan yang terms to maturity similar to the related pension memiliki jangka waktu yang sama dengan obligation. liabilitas manfaat pensiun yang bersangkutan. Perusahaan memberikan imbalan pasca kerja The Company also provides other post- lainnya, seperti tanda penghargaan dan cuti employment benefits, such as long service jangka panjang. reward and long service leave. Imbalan berupa uang penghargaan diberikan The long service reward is given when the apabila karyawan bekerja hingga mencapai employees reach their retirement age. Death usia pensiun. Santunan kematian diberikan bila allowance is paid when the employee or the pegawai dan anggota keluarga tertentu qualified family members pass away. Benefit meninggal dunia. Nilai imbalan yang diberikan given is based on the Company’s regulation. didasari pada peraturan Perusahaan. The separation reward benefit is paid to Sedangkan imbalan berupa uang pisah, employees in the event of voluntary resignation, dibayarkan kepada karyawan yang subject to a minimum number of years of mengundurkan diri secara sukarela, setelah service. These benefits have been accounted memenuhi minimal masa kerja tertentu. for using the same methodology as for the Imbalan ini dihitung dengan menggunakan defined benefit pension plan. metodologi yang sama dengan metodologi yang digunakan dalam perhitungan program pensiun imbalan pasti.

43 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

r. Imbalan kerja dan imbalan pasca kerja r. Employee benefits and post-employment (lanjutan) benefits (continued)

Imbalan pasca kerja (lanjutan) Post-employment benefits (continued)

Perusahaan menyediakan imbalan kesehatan The Company provides post-employment pasca kerja untuk pensiunan. Hak atas imbalan medical benefits to their retirees. The ini pada umumnya diberikan apabila karyawan entitlement to these benefits is given if bekerja sampai usia pensiun dan memenuhi employee has worked until retirement age and masa kerja minimum tertentu. the completion of a minimum service period.

Prakiraan biaya imbalan ini diakru sepanjang The expected costs of these benefits are masa kerja karyawan, dengan menggunakan accrued over the period of employment, using metode akuntansi yang sama, namun an accounting methodology similar but disederhanakan, dengan metode yang simplified to that for defined benefit pension digunakan dalam perhitungan program pensiun plans. These obligations are valued annually by imbalan pasti. Kewajiban ini dinilai setiap tahun qualified independent actuaries. oleh aktuaris independen yang memenuhi kualifikasi.

s. Sewa s. Leases

Penentuan apakah suatu perjanjian merupakan The determination of whether an arrangement perjanjian sewa, atau perjanjian yang is, or contains a lease is based on the substance mengandung sewa, didasarkan atas substansi of the arrangement at inception date and perjanjian pada tanggal awal sewa dan apakah whether the fulfillment of the arrangement is pemenuhan perjanjian tergantung pada dependent on the use of a specific asset and the penggunaan suatu aset dan perjanjian tersebut arrangement conveys a right to use the asset. memberikan suatu hak untuk menggunakan Lease that transfers substantially to the lessee aset tersebut. Sewa yang mengalihkan secara all the risks and rewards incidental to ownership of the leased item is classified as finance lease. substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset, diklasifikasikan sebagai sewa pembiayaan.

Suatu sewa yang tidak mengalihkan secara Leases which do not transfer substantially all the substansial seluruh risiko dan manfaat yang risks and rewards incidental to ownership are terkait dengan kepemilikan aset diklasifikasikan classified as operating leases. Operating lease sebagai sewa operasi. Pembayaran sewa payments are recognized as an expense in the dalam sewa operasi diakui sebagai beban consolidated statement of profit or loss and other dalam laporan laba rugi dan penghasilan comprehensive income on a straight-line method komprehensif lain konsolidasian dengan dasar over the lease term. garis lurus (straight-line method) selama masa sewa.

44 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

t. Perpajakan t. Taxation

Pajak final Final tax

Peraturan perpajakan di Indonesia mengatur Tax regulation in Indonesia determined that beberapa jenis penghasilan dikenakan pajak certain taxable income is subject to final tax. yang bersifat final. Pajak final yang dikenakan Final tax applied to the gross value of atas nilai bruto transaksi tetap dikenakan transactions is applied even when the parties walaupun atas transaksi tersebut pelaku carrying the transaction recognizing losses. transaksi mengalami kerugian.

Mengacu pada revisi PSAK No. 46 yang Referring to revised PSAK No. 46 as mentioned disebutkan di atas, pajak final tersebut tidak above, final tax is no longer governed by PSAK termasuk dalam lingkup yang diatur oleh PSAK No. 46. No. 46.

Perbedaan antara nilai tercatat dari aset The difference between the carrying amount of revaluasi dan dasar pengenaan pajak a revalued asset and its tax base is a temporary merupakan perbedaan temporer sehingga difference and gives rise to a deferred tax menimbulkan liabilitas atau aset pajak liability or asset, except for certain asset such tangguhan, kecuali untuk aset tertentu seperti as land, which upon realization is taxed with tanah yang pada saat realisasinya dikenakan final tax on gross value of transaction. pajak final yang dikenakan atas nilai bruto transaksi.

Pajak kini Current tax

Aset dan liabilitas pajak kini untuk tahun Current income tax assets and liabilities for the berjalan diukur sebesar jumlah yang current period are measured at the amount diharapkan dapat direstitusi dari atau expected to be recovered from or paid to the dibayarkan kepada otoritas perpajakan. taxation authority.

Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on kena pajak tahun berjalan yang dihitung the taxable profit for the year computed using berdasarkan tarif pajak yang berlaku. the prevailing tax rates.

Kekurangan/kelebihan pembayaran pajak Underpayment/overpayment of income tax are penghasilan dicatat sebagai bagian dari “Beban presented as part of “Tax Expense - Current” in Pajak Kini” dalam laporan laba rugi dan the consolidated statements of profit or loss and penghasilan komprehensif lain konsolidasian. other comprehensive income. The Group also Kelompok Usaha juga menyajikan bunga atau presented interest or penalty, if any, as part of denda, jika ada, sebagai bagian dari “Beban “Current Tax Expense”. Pajak Kini”.

Koreksi terhadap liabilitas perpajakan diakui Amendments to tax liabilities are recorded pada saat surat ketetapan pajak diterima atau, when a tax assessment letter is received or, if jika diajukan keberatan, pada saat keputusan appealed against, when the result of the appeal atas keberatan ditetapkan. is determined.

45 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

t. Perpajakan (lanjutan) t. Taxation (continued)

Pajak tangguhan Deferred tax

Aset dan liabilitas pajak tangguhan diakui Deferred tax assets and liabilities are menggunakan metode liabilitas atas recognized using the liability method for the konsekuensi pajak pada masa mendatang yang future tax consequences attributable to timbul dari perbedaan jumlah tercatat aset dan differences between the carrying amounts of liabilitas menurut laporan keuangan dengan existing assets and liabilities in the financial dasar pengenaan pajak aset dan liabilitas pada statements and their respective tax basis at setiap tanggal pelaporan. each reporting date.

Liabilitas pajak tangguhan diakui untuk semua Deferred tax liabilities are recognized for all perbedaan temporer kena pajak dan aset pajak taxable temporary differences and deferred tax tangguhan diakui untuk perbedaan temporer assets are recognized for deductible temporary yang boleh dikurangkan dan akumulasi rugi differences and accumulated fiscal losses to fiskal, sepanjang besar kemungkinan the extent that it is probable that taxable profit perbedaan temporer yang boleh dikurangkan will be available in future years against which dan akumulasi rugi fiskal tersebut dapat the deductible temporary differences and dimanfaatkan untuk mengurangi laba kena accumulated fiscal losses can be utilized. pajak pada masa depan.

Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of a deferred tax asset is ulang pada akhir setiap periode pelaporan dan reviewed at the end of each reporting period diturunkan apabila laba fiskal mungkin tidak and reduced to the extent that it is no longer memadai untuk mengkompensasi sebagian probable that sufficient taxable profit will be atau semua manfaat aset pajak tangguhan available to allow the benefit of part or all of that tersebut. Pada akhir setiap periode pelaporan, deferred tax asset to be utilized. At the end of Kelompok Usaha menilai kembali aset pajak each reporting period, the Group reassesses tangguhan yang tidak diakui. Kelompok Usaha unrecognized deferred tax assets. The Group mengakui aset pajak tangguhan yang recognizes previously unrecognized deferred sebelumnya tidak diakui apabila besar tax assets to the extent that it has become kemungkinan bahwa laba fiskal pada masa probable that future taxable profit will allow the depan akan tersedia untuk pemulihannya. deferred tax assets to be recovered.

Pajak tangguhan dihitung dengan Deferred tax is calculated using regulated tax menggunakan tarif pajak yang berlaku atau rates or substantively enacted at the reporting secara substansial telah berlaku pada tanggal date. Changes in the carrying amount of pelaporan. Perubahan nilai tercatat aset dan deferred tax assets and liabilities due to a liabilitas pajak tangguhan yang disebabkan oleh change in tax rates are charged to current perubahan tarif pajak dibebankan pada usaha period operations, except to the extent that they periode berjalan, kecuali untuk transaksi- relate to items previously charged or credited to transaksi yang sebelumnya telah langsung equity. dibebankan atau dikreditkan ke ekuitas.

Aset dan liabilitas pajak tangguhan disajikan Deferred tax assets and liabilities are offset in secara saling hapus dalam laporan posisi the consolidated statements of financial keuangan konsolidasian, kecuali aset dan position, except if they are for different legal liabilitas pajak tangguhan untuk entitas yang entities, consistent with the presentation of berbeda, sesuai dengan penyajian aset dan current tax assets and liabilities. liabilitas pajak kini.

46 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

u. Pendapatan dan beban u. Revenue and expense

Pendapatan diakui jika besar kemungkinan Revenue is recognized to the extent that it is manfaat ekonomi akan mengalir ke Kelompok probable that the economic benefits will flow to Usaha dan manfaat ini dapat diukur dengan the Group and the revenue can be reliably andal. Pendapatan diukur pada nilai wajar measured. Revenue is measured at the fair penerimaan diterima, tidak termasuk diskon, value of the consideration received, excluding rabat dan cadangan lain yang serupa. Kriteria discounts, rebates and other similar spesifik berikut juga harus dipenuhi sebelum allowances. The following specific recognition pendapatan diakui: criteria must also be met before revenue is recognized:

· Pendapatan jasa aeronautika diakui pada · Aeronautical services revenues are saat jasa diserahkan kepada pelanggan. recognized when services are rendered to customers.

· Pendapatan jasa non aeronautika atas · Non-aeronautical services revenues for sewa tanah dan bangunan diakui sesuai land and buildings rental is recognized in dengan periode konsesi yang sudah accordance with the concession period berjalan pada tahun yang bersangkutan. which has been incurred during the year.

· Pendapatan atas penggunaan fasilitas · Revenue for the use of the Group’s peralatan Kelompok Usaha oleh facilities and equipment by customers and pelanggan dan pendapatan jasa non other non-aeronautical services revenues aeronautika lainnya diakui pada saat are recognized when the facility is used fasilitas tersebut digunakan dan pada saat and services are rendered. jasa diserahkan.

· Pendapatan atas sewa tanah dan · Land and building rental income received bangunan yang diterima di muka atas in advance for a period that has not be periode yang belum berjalan dicatat incurred recorded as unearned revenue. sebagai pendapatan yang diterima di muka.

· Pendapatan lainnya diakui atas dasar · Other income is recognized on an accrual akrual. basis.

· Pendapatan bunga diakui atas dasar · Interest income is recognized on a time proporsional berdasarkan waktu, pokok proportion basis, the principal and the dan tingkat bunga yang berlaku. prevailing interest rate.

Beban diakui pada saat terjadinya. Expenses are recognized as incurred.

v. Penurunan nilai aset non-keuangan v. Impairment of non-financial assets

Pada setiap akhir periode pelaporan, Kelompok The Group assesses at the end of each reporting Usaha menilai apakah terdapat indikasi suatu period whether there is an indication that an aset mengalami penurunan nilai. Jika terdapat asset may be impaired. If such indication exists, indikasi tersebut, maka jumlah terpulihkan recoverable amount is estimated for the diestimasi untuk aset individual. Jika tidak individual asset. If it is not possible to estimate mungkin untuk mengestimasi jumlah the recoverable amount of the individual asset, terpulihkan aset individual, maka Kelompok the Group determines the recoverable amount of Usaha menentukan nilai terpulihkan dari Unit the Cash-Generating Unit (CGU) to which the Penghasil Kas (UPK) yang mana aset tercakup asset belongs (the asset’s CGU). (aset dari UPK).

47 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

v. Penurunan nilai aset non-keuangan v. Impairment of non-financial assets (lanjutan) (continued)

Jumlah terpulihkan dari suatu aset (baik aset An asset’s (either individual asset or CGU) individual maupun UPK) adalah jumlah yang recoverable amount is the higher of the asset’s lebih tinggi antara nilai wajarnya dikurangi biaya fair value less costs to sell and its value in use. untuk menjual dengan nilai pakainya. Jika nilai Where the carrying amount of the asset tercatat aset lebih besar daripada nilai exceeds its recoverable amount, the asset is terpulihkannya, maka aset tersebut dianggap considered impaired and is written down to its mengalami penurunan nilai dan nilai tercatat recoverable amount. Impairment loss are aset diturunkan menjadi sebesar nilai recognized in consolidated statement of profit terpulihkannya. Rugi penurunan nilai diakui or loss and other comprehensive income as pada laporan laba rugi dan penghasilan “impairment loss”. komprehensif lain konsolidasian sebagai “rugi penurunan nilai”.

Dalam menghitung nilai pakai, estimasi arus In assessing the value in use, the estimated net kas masa depan neto didiskontokan ke nilai kini future cash flows are discounted to their dengan menggunakan tingkat diskonto sebelum present value using a pre-tax discount rate that pajak yang menggambarkan penilaian pasar reflects current market assessments of the time kini dari nilai waktu uang dan risiko spesifik atas value of money and the risks specific to the aset. asset.

Dalam menentukan nilai wajar dikurangi biaya In determining fair value less costs to sell, untuk menjual, digunakan harga transaksi pasar recent market transactions are taken into terakhir, jika tersedia. Jika tidak terdapat account, if available. If no such transactions transaksi tersebut, Kelompok Usaha can be identified, an appropriate valuation menggunakan model penilaian yang sesuai model is used to determine the fair value of the untuk menentukan nilai wajar aset. asset. These calculations are corroborated by Perhitungan-perhitungan ini dikuatkan oleh valuation multiples or other available fair value penilaian berganda atau indikator nilai wajar lain indicators. yang tersedia.

Kerugian penurunan nilai, jika ada, diakui pada Impairment loss, if any, are recognized in laporan laba rugi dan penghasilan consolidated statement of profit or loss and komprehensif lain konsolidasian sesuai dengan other comprehensive income under expense kategori biaya yang konsisten dengan fungsi categories that are consistent with the dari aset yang diturunkan nilainya. functions of the impaired assets.

Penilaian dilakukan pada setiap akhir periode An assessment is made at the end of each pelaporan apakah terdapat indikasi bahwa rugi reporting period as to whether there is any penurunan nilai yang telah diakui dalam periode indication that previously recognized sebelumnya untuk suatu aset mungkin tidak impairment losses for an asset may no longer ada lagi atau mungkin telah menurun. Jika exist or may have decreased. If such indication indikasi tersebut ada, maka entitas exists, the recoverable amount is estimated. mengestimasi jumlah terpulihkan aset tersebut.

Kerugian penurunan nilai yang telah diakui A previously recognized impairment loss for an dalam periode sebelumnya untuk suatu aset asset is reversed only if there has been a dibalik hanya jika terdapat perubahan asumsi- change in the assumptions used to determine asumsi yang digunakan untuk menentukan the asset’s recoverable amount since the last jumlah terpulihkan aset tersebut sejak rugi impairment loss was recognized. penurunan nilai terakhir diakui.

48 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

v. Penurunan nilai aset non-keuangan v. Impairment of non-financial assets (lanjutan) (continued)

Pembalikan tersebut dibatasi sehingga jumlah The reversal is limited so that the carrying tercatat aset tidak melebihi jumlah amount of the asset does not exceed its terpulihkannya maupun jumlah tercatat, bersih recoverable amount, nor exceeds the carrying setelah penyusutan, seandainya tidak ada rugi amount that would have been determined, net yang telah diakui untuk aset tersebut pada of depreciation, had no impairment loss been periode sebelumnya. Pembalikan rugi recognized for the asset in prior periods. penurunan nilai diakui dalam laporan laba rugi Reversal of an impairment loss is recognized in dan penghasilan komprehensif lain consolidated statement of profit or loss and konsolidasian. Setelah pembalikan tersebut other comprehensive income. After such diakui sebagai laba rugi, penyusutan aset reversal is recognized in profit or loss, the tersebut disesuaikan di periode mendatang depreciation charge on the said asset is untuk mengalokasikan jumlah tercatat aset adjusted in future periods to allocate the asset’s yang direvisi, dikurangi nilai sisanya, dengan revised carrying amount, less any residual dasar yang sistematis selama sisa umur value, on a systematic basis over its remaining manfaatnya. useful life.

w. Pelaporan segmen w. Segment reporting

Segmen operasi adalah suatu komponen dari An operating segment is a component of an entitas: (1) yang terlibat dalam aktivitas bisnis entity: (1) which engages in business activities yang mana memperoleh pendapatan dan from which it may earn revenues and incur menimbulkan beban; (2) hasil operasinya dikaji expenses; (2) whose operating results are ulang secara reguler oleh pengambil keputusan regularly reviewed by the entity's operating operasional untuk membuat keputusan tentang decision maker to decide about resources to be sumber daya yang dialokasikan pada segmen allocated to the segment and value its tersebut dan menilai kinerjanya; dan (3) tersedia performance; and (3) for which discrete financial informasi keuangan yang dapat dipisahkan. information is available.

Kelompok Usaha mengidentifikasikan segmen The Group identifies its operating segments on operasi berdasarkan pelaporan internal yang the basis of internal reports that are regularly direviu secara regular oleh pengambil reviewed by the Group's chief operating keputusan operasional dalam mengalokasikan decision-maker in order to allocate resources to sumber daya dan menilai kinerja segmen the segment and assess its performance. operasi Kelompok Usaha.

Pengungkapan tambahan pada masing-masing Additional disclosures on each of these segmen terdapat dalam Catatan 41, termasuk segments are shown in Note 41, including the faktor yang digunakan untuk mengidentifikasi factors used to identify the reported segments segmen yang dilaporkan dan dasar pengukuran and the measurement basis of segment informasi segmen. information. Segmen ditentukan sebelum saldo dan Segments are determined before intra-group transaksi antar Perusahaan dan Entitas Anak balances and intra-group transactions are dieliminasi sebagai bagian dari proses eliminated as part of consolidation process. konsolidasi. x. Laba per saham x. Earnings per share Laba per saham dihitung dengan membagi total Earnings per share is calculated by dividing the laba tahun berjalan yang dapat diatribusikan total profit for the year attributable to owners of kepada pemilik entitas induk dengan jumlah the parent by the weighted average number of rata-rata tertimbang saham biasa seri B yang ordinary shares seri B outstanding during the beredar pada tahun yang bersangkutan. year.

49 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

x. Laba per saham (lanjutan) x. Earnings per share (continued)

Laba per saham dilusian dihitung dengan Diluted earning per share is calculated by membagi total laba tahun berjalan yang dapat dividing profit for the year attributable to owners diatribusikan kepada pemilik entitas induk of the parent by the weighted average number dengan jumlah rata-rata tertimbang saham of ordinary shares outstanding during the biasa yang beredar pada periode pelaporan, reporting period, adjusted to assume yang disesuaikan untuk mengasumsikan conversion of all potential dilutive ordinary konversi efek berpotensi saham biasa yang shares. sifatnya dilutif.

y. Pengukuran nilai wajar y. Fair value measurement Kelompok Usaha telah menerapkan PSAK No. The Group has adopted PSAK No. 68, “Fair 68, “Pengukuran Nilai Wajar”. PSAK ini, antara Value Measurement”. This PSAK, among lain, memberikan panduan tentang bagaimana others, provides guidance on how to measure pengukuran nilai wajar ketika nilai wajar fair value when fair value is required or disyaratkan atau diizinkan. Penerapan PSAK ini permitted. The adoption of this PSAK has no tidak berpengaruh signifikan terhadap laporan significant impact on the consolidated financial keuangan konsolidasian. Kelompok Usaha statements. The Group measures financial mengukur instrumen keuangan pada nilai wajar instruments at fair value at each reporting date. setiap tanggal pelaporan. Pengungkapan nilai Fair value disclosure for financial instruments wajar instrumen keuangan disajikan dalam are disclosed in Note 46. Catatan 46.

Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received to untuk menjual suatu aset atau harga yang akan sell an asset or paid to transfer a liability in an dibayar untuk mengalihkan suatu liabilitas orderly transaction between market participants dalam transaksi teratur antara pelaku pasar at the measurements date. The fair value pada tanggal pengukuran. Pengukuran nilai measurement is based on the presumption that wajar berdasarkan asumsi bahwa transaksi the transaction on selling assets or transfer the untuk menjual aset atau mengalihkan liabilitas liabilities takes place whenever: terjadi di: · Pasar utama untuk aset dan liabilitas · In the principal market for the assets or tersebut, atau liabilities, or · Jika tidak terdapat pasar utama, di pasar · In the absence of a principal market, in the yang paling menguntungkan untuk aset most advantageous market for the assets atau liabilitas tersebut. or liabilities. Kelompok Usaha harus memiliki akses ke pasar The principal or the most advantageous market utama atau pasar yang paling menguntungkan. must be accessible by the Group. Nilai wajar dari aset atau liabilitas diukur The fair value of an asset or a liability is menggunakan asumsi yang akan digunakan measured using the assumptions that market oleh pelaku pasar pada saat melakukan participants would use when pricing the asset penilaian aset atau liabilitas, dengan asumsi or liabilities, assuming that market participants bahwa pelaku pasar akan bertindak atas act in their economic best interest. kepentingan ekonomi terbaik mereka. Kelompok Usaha mengunakan teknik penilaian The Group uses valuation techniques that are yang sesuai dengan kondisi Perusahaan dan appropriate in the circumstances and for which dimana terdapat ketersediaan data yang cukup sufficient data are available to measure fair untuk mengukur nilai wajar, memaksimalkan value, maximizing the use of relevant penggunaan data masukan yang dapat observable inputs and minimizing the use of diobservasi yang relevan dan meminimalkan unobservable inputs. penggunakan data masukan yang tidak dapat diobservasi.

50 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

y. Pengukuran nilai wajar (lanjutan) y. Fair value measurement (continued)

Semua aset dan liabilitas yang diukur dengan All assets and liabilities for which fair value is nilai wajar atau diungkapkan dalam laporan measured or disclosed in the financial keuangan dikategorikan dalam hirarki nilai statements are categorized within the fair value wajar berdasarkan tingkat masukan paling hierarchy, described as follows, based on the rendah yang signifikan terhadap pengukuran lowest level input that is significant to the fair nilai wajar secara keseluruhan: value measurement as a whole: · Tingkat 1 - Harga kuotasian (tidak · Level 1 - Quoted (unadjusted) market disesuaikan) di pasar aktif untuk aset atau prices in active markets for identical assets liabilitas yang identik; or liabilities; · Tingkat 2 - Teknik-teknik lain atas semua · Level 2 - Valuation techniques for which input yang memiliki efek signifikan the lowest level input that is significant to terhadap nilai wajar yang tercatat dapat the fair value measurement is directly or diobservasi, baik secara langsung indirectly observable; maupun tidak langsung; · Tingkat 3 - Teknik yang menggunakan · Level 3 - Valuation techniques for which input yang memiliki pengaruh signifikan the lowest level input that is significant to terhadap nilai wajar yang tercatat yang the fair value measurement is tidak berdasarkan data pasar yang dapat unobservable. diobservasi.

Untuk aset dan liabilitas yang diakui dalam For assets and liabilities that are recognized in laporan keuangan dalam basis yang berulang, the financial statements on a recurring basis, the Kelompok Usaha menentukan apakah transfer Group determines whether transfers have telah terjadi antara tingkat dalam hirarki dengan occurred between levels in the hierarchy by re- menilai ulang kategori (berdasarkan tingkat assessing categorization (based on the lowest masukan paling rendah yang signifikan level input that is significant to the fair value terhadap pengukuran nilai wajar secara measurement as a whole) at the end of each keseluruhan) pada setiap akhir periode reporting period. pelaporan.

z. Kombinasi bisnis z. Business combinations

Kombinasi bisnis dicatat dengan menggunakan Business combinations are accounted for using metode akuisisi. Biaya perolehan dari suatu the acquisition method. The cost of an akuisisi diukur dari nilai agregat imbalan yang acquisition is measured as the aggregate of the dialihkan, diukur pada nilai wajar pada tanggal consideration transferred, measured at akuisisi dan jumlah setiap KNP pada pihak yang acquisition date fair value and the amount of diakuisisi. Untuk setiap kombinasi bisnis, pihak any NCI in the acquiree. For each business pengakuisisi mengukur KNP pada entitas yang combination, the acquirer measures the NCI in diakuisisi pada nilai wajar atau pada proporsi the acquiree either at fair value or at the kepemilikan KNP atas aset neto yang proportionate share of the acquiree’s teridentifikasi dari entitas yang diakuisisi. Biaya- identifiable net assets. Transaction costs biaya akuisisi yang timbul dibebankan langsung incurred are directly expensed and included in dan dicatat dalam “Beban umum dan “General and administrative expenses”. administrasi”.

51 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

z. Kombinasi bisnis (lanjutan) z. Business combinations (continued)

Ketika Kelompok Usaha melakukan akuisisi When the Group acquires a business, it atas sebuah bisnis, Kelompok Usaha assesses the financial assets acquired and mengklasifikasikan dan menentukan aset liabilities assumed for appropriate keuangan dan liabilitas keuangan yang diambil classification and designation in accordance alih berdasarkan pada persyaratan kontraktual, with the contractual terms, economic kondisi ekonomi dan kondisi terkait lainnya circumstances and pertinent conditions as at yang ada pada tanggal akuisisi. Hal ini the acquisition date. This includes the termasuk pemisahan atas derivatif yang separation of embedded derivatives in host melekat pada kontrak utama oleh pihak yang contracts by the acquiree. diakuisisi.

Dalam suatu kombinasi bisnis yang dilakukan If the business combination is achieved in secara bertahap, pihak pengakuisisi mengukur stages, the fair value acquisition date of the kembali kepemilikan atas ekuitas yang dimiliki acquirer’s previously held equity interest in the sebelumnya pada pihak yang diakuisisi acquiree is remeasured to fair value at the berdasarkan nilai wajar pada tanggal akuisisi acquisition date and any resulting gain or loss dan mengakui keuntungan atau kerugian yang is recognized in profit or loss. terjadi dalam laba rugi.

Imbalan kontinjensi yang akan dibayarkan oleh Any contingent consideration to be transferred pihak pengakuisisi diakui pada nilai wajar pada aby the acquirer will be recognized at fair value tanggal akuisisi. Perubahan nilai wajar atas at the acquisition date. Subsequent changes to imbalan kontinjensi setelah tanggal akuisisi the fair value of the contingent consideration yang diklasifikasikan sebagai aset atau which is deemed to be an asset or liability will liabilitas, akan diakui dalam laporan laba rugi be recognized in accordance with PSAK atau sebagai pendapatan komprehensif lain No. 55 (Revised 2015) either in profit or loss or sesuai dengan PSAK No. 55 (Revisi 2015). Jika as other comprehensive income. If the diklasifikasikan sebagai ekuitas, imbalan contingent consideration is classified as equity, kontinjensinya tidak diukur kembali sampai it should not be remeasured until it is finally penyelesaian terakhir dalam ekuitas. settled within equity.

Pada tanggal akuisisi, pertama kali goodwill At acquisition date, goodwill is initially diukur pada harga perolehan yang merupakan measured at cost being the excess of the selisih lebih nilai agregat dari imbalan yang aggregate of the consideration transferred and dibayarkan dan jumlah yang diakui untuk KNP the amount recognized for NCI over the net dibandingkan dengan jumlah dari aset identifiable assets acquired and liabilities teridentifikasi dan liabilitas yang diperoleh. Jika assumed. If this consideration result is lower imbalan tersebut kurang dari nilai wajar aset than the fair value of the net assets of the neto Entitas Anak yang diakuisisi, selisih Subsidiary acquired, the difference is tersebut diakui dalam laporan laba rugi. recognized in profit or loss.

Setelah pengakuan awal, goodwill diukur pada After initial recognition, goodwill is measured at jumlah tercatat dikurangi akumulasi kerugian cost less any accumulated impairment losses. penurunan nilai, jika ada. Untuk tujuan uji For the purpose of impairment testing, goodwill penurunan nilai, goodwill yang diperoleh dari acquired in a business combination is allocated suatu kombinasi bisnis dialokasikan sejak from the acquisition date to each of the Group’s tanggal akuisisi kepada setiap unit penghasil cash-generating units (“CGU”) that are kas (“UPK”) dari Kelompok Usaha yang expected to benefit from the combination, diharapkan akan memperoleh manfaat dari irrespective of whether other assets or liabilities kombinasi tersebut, terlepas dari apakah aset of the acquirer are assigned to those CGUs. atau liabilitas lain dari pihak yang mengakuisisi dialokasikan kepada UPK tersebut.

52 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING (lanjutan) POLICIES (continued)

z. Kombinasi bisnis (lanjutan) z. Business combinations (continued)

Jika goodwill telah dialokasikan pada suatu Where goodwill forms part of a CGU and part of UPK dan operasi tertentu dalam UPK tersebut the operation within that CGU is disposed of, dilepas, maka goodwill yang terasosiasi dengan the goodwill associated with the operation operasi yang dilepas tersebut dimasukkan disposed of is included in the carrying amount dalam jumlah tercatat operasi tersebut ketika of the operation when determining the gain or menentukan keuntungan atau kerugian dari loss on disposal of the operation. Goodwill pelepasan operasi. Goodwill yang dilepaskan disposed of in this circumstance is measured tersebut diukur berdasarkan nilai relatif operasi based on the relative values of the operation yang dilepas dan porsi UPK yang ditahan. disposed of and the portion of the CGU retained.

Sesuai dengan ketentuan dalam PSAK No. 22 In accordance with the provision of PSAK (Revisi 2015), apabila proses akuntansi awal No. 22 (Revised 2015), if the initial accounting untuk kombinasi bisnis belum selesai pada for a business combination is incomplete by the akhir periode pelaporan pada saat kombinasi end of the reporting period in which the terjadi, Kelompok Usaha melaporkan jumlah combination occurs, the Group shall report in sementara untuk pos-pos yang proses its consolidated financial statements akuntansinya belum selesai dalam laporan provisional amounts for the items for which the keuangan konsolidasian. Selama periode accounting is incomplete. During the pengukuran, Kelompok Usaha menyesuaikan measurement period, the Group shall secara retrospektif jumlah sementara yang retrospectively adjust the provisional amounts diakui pada tanggal akuisisi untuk recognized at the acquisition date to reflect mencerminkan informasi baru yang diperoleh new information obtained about facts and tentang fakta dan keadaan yang ada pada circumstances that existed as of the acquisition tanggal akuisisi dan, jika diketahui telah date and, if known, would have affected the berdampak pada pengukuran jumlah yang measurement of the amounts recognized as of diakui pada tanggal tersebut. that date.

aa. Peristiwa setelah periode pelaporan aa. Events after the reporting period

Peristiwa setelah periode pelaporan yang Post period-end events that provide additional memberikan informasi tambahan mengenai information about the Group’s financial position posisi keuangan Kelompok Usaha pada tanggal at the reporting date (“adjusting events”), if pelaporan (“peristiwa penyesuaian”), jika ada, any, are reflected in the consolidated financial dicerminkan dalam laporan keuangan statements. Post period-end events that are konsolidasian. Peristiwa setelah periode not adjusting events are disclosed in the notes pelaporan yang bukan peristiwa penyesuai to the consolidated financial statements when diungkapkan dalam catatan atas laporan material. keuangan konsolidasian jika material.

3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, AKUNTANSI SIGNIFIKAN ESTIMATES AND ASSUMPTIONS

Penyusunan laporan keuangan konsolidasian The preparation of consolidated financial sesuai dengan Standar Akuntansi Keuangan di statements, in conformity with Indonesian Financial Indonesia mewajibkan manajemen untuk membuat Accounting Standards, requires management to estimasi dan asumsi yang mempengaruhi jumlah- make judgments of estimations and assumptions jumlah yang dilaporkan dari pendapatan, beban, that affect the amounts reported on income, aset dan liabilitas, dan pengungkapan liabilitas expenses, assets and liabilities and disclosures of kontinjensi pada tanggal pelaporan. Ketidakpastian contigent liabilities at the reporting date. The mengenai asumsi dan estimasi tersebut dapat uncertainty of assumption and estimation may mengakibatkan penyesuaian nilai tercatat aset dan cause adjustment to the carrying amounts of assets liabilitas dalam periode pelaporan berikutnya. and liabilities within the next reporting period

53 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, AKUNTANSI SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)

Manajemen berkeyakinan bahwa pengungkapan Management believes that the following represent a berikut telah mencakup ikhtisar pertimbangan, summary of the significant judgements, estimates estimasi dan asumsi signifikan yang dibuat oleh and assumptions made that affected certain manajemen, yang berpengaruh terhadap jumlah- reported amounts and disclosures in the jumlah yang dilaporkan serta pengungkapan dalam consolidated financial statements. laporan keuangan konsolidasian.

Pertimbangan Judgments

Penyusunan laporan keuangan konsolidasian The preparation of the Group’s consolidated Kelompok Usaha mensyaratkan manajemen untuk financial statements requires management to make membuat pertimbangan, estimasi dan asumsi yang judgments, estimates and assumptions that affect mempengaruhi jumlah yang dilaporkan atas the reported amounts of revenues, expenses, pendapatan, beban, aset dan liabilitas, serta assets and liabilities, and the disclosures to the pengungkapan laporan keuangan konsolidasi, pada consolidate financial statements, at the end of the akhir periode pelaporan. Namun, ketidakpastian reporting period. However, uncertainty about these asumsi dan estimasi ini dapat menyebabkan hasil assumptions and estimates could result in yang memerlukan penyesuaian material atas nilai outcomes that require a material adjustment to the tercatat aset atau liabilitas yang berdampak pada carrying amount of the assets or liabilities affected masa mendatang. in future years.

Penentuan mata uang fungsional Determination of functional currency

Mata uang fungsional dari setiap entitas dalam The functional currency of each entity in the Group Kelompok Usaha adalah mata uang dari lingkungan is the currency of the primary economic environment ekonomi utama di mana entitas tersebut beroperasi. where such entity operates. Those currencies are Mata uang tersebut adalah mata uang yang the currencies that influence the revenues and costs mempengaruhi pendapatan dan biaya masing- of each of the respective entities. The determination masing entitas. Penentuan mata uang fungsional of functional currency may require judgment due to bisa membutuhkan pertimbangan karena berbagai various complexity, among others, the entity may kompleksitas, antara lain, suatu entitas dapat transact in more than one currency in its daily bertransaksi dalam lebih dari satu mata uang dalam business activities. aktivitas usahanya sehari-hari.

Klasifikasi aset dan liabilitas keuangan Classification of financial assets and liabilities

Kelompok Usaha menetapkan klasifikasi atas aset The Group determines the classifications of certain dan liabilitas tertentu sebagai aset keuangan dan assets and liabilities as financial assets and financial liabilitas keuangan dengan mempertimbangkan liabilities by complying the definition set forth in apakah definisi yang ditetapkan PSAK No. 55 PSAK No. 55 (Revised 2014). Accordingly, the (Revisi 2014) dipenuhi. Dengan demikian, aset financial assets and financial liabilities are keuangan dan liabilitas keuangan diakui sesuai accounted for in accordance with the Group’s dengan kebijakan akuntansi Kelompok Usaha accounting policies disclosed in Note 2h. seperti diungkapkan pada Catatan 2h.

54 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, AKUNTANSI SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)

Pertimbangan (lanjutan) Judgments (continued)

Cadangan kerugian penurunan nilai piutang usaha Allowance for impairment loss on trade receivables Kelompok Usaha mengevaluasi akun tertentu jika The Group evaluates specific accounts where it has terdapat informasi bahwa pelanggan yang information that certain customers are unable to bersangkutan tidak dapat memenuhi kewajiban meet their financial obligations. In these cases, The keuangannya. Dalam hal tersebut, Kelompok Usaha Group uses judgment, based on the best available mempertimbangkan, berdasarkan fakta dan situasi facts and circumstances, including but not limited to, yang tersedia, termasuk namun tidak terbatas pada, the length of its relationship with the customer and jangka waktu hubungan dengan pelanggan dan the customer's current credit status, to record status kredit dari pelanggan, untuk mencatat provisi specific provisions for customers against amounts yang spesifik atas jumlah piutang pelanggan guna due to reduce its receivable amounts that the Group mengurangi jumlah piutang yang diharapkan dapat expects to collect. diterima oleh Kelompok Usaha. Provisi yang spesifik ini dievaluasi kembali dan Specific provisions are re-evaluated and adjusted if disesuaikan jika tambahan informasi yang diterima additional information received affects the amount of mempengaruhi jumlah cadangan kerugian allowance for impairment losses on accounts penurunan nilai atas piutang usaha. Jumlah receivable. The amount of impairment loss as of penyisihan kerugian penurunan nilai pada tanggal December 31, 2019 and 2018 amounted to 31 Desember 2019 dan 2018 masing-masing Rp135,147,712 and Rp136,836,694, respectively sebesar Rp135.147.712 dan Rp136.836.694 (Note 6). (Catatan 6).

Estimasi dan asumsi Estimates and assumptions Asumsi kunci mengenai masa depan dan sumber The key assumptions concerning the future and kunci lainnya untuk estimasi ketidakpastian pada other key sources of estimation uncertainty at the akhir periode pelaporan yang memiliki risiko end of the reporting period that have a significant signifikan yang menyebabkan penyesuaian material risk of causing a material adjustment to the carrying terhadap nilai tercatat aset dan liabilitas dalam tahun amounts of assets and liabilities within the next pelaporan berikutnya dijabarkan sebagai berikut: financial year are discussed below:

Estimasi masa manfaat atas aset tetap Estimated useful lives of fixed assets Kelompok Usaha mengestimasi masa manfaat dari The Group estimates the useful lives of its fixed aset tetap berdasarkan utilisasi dari aset yang assets based on expected asset utilization as diharapkan dapat didukung dengan rencana dan anchored on business plans and strategies that also strategi usaha yang juga mempertimbangkan consider expected future technological perkembangan teknologi di masa depan dan developments and market behavior. The estimation perilaku pasar. Estimasi dari masa manfaat aset of the useful lives of fixed asset is based on the tetap adalah berdasarkan penelaahan Kelompok Group’s collective assessment of industry practice, Usaha secara kolektif terhadap praktek industri, internal technical evaluation and experience with evaluasi teknis internal dan pengalaman untuk aset similar assets. yang setara. Estimasi masa manfaat direviu paling sedikit setiap The estimated useful lives are reviewed at least at akhir tahun pelaporan dan diperbarui jika ekspektasi each financial year end and are updated if berbeda dari estimasi sebelumnya dikarenakan expectations differ from previous estimates due to pemakaian dan kerusakan fisik, keusangan secara physical wear and tear, technical or commercial teknis atau komersial dan hukum atau pembatasan obsolescence and legal or other limitations on the lain atas penggunaan dari aset. Tetapi, adalah use of the assets. It is possible, however, that future mungkin, hasil di masa depan dari operasi dapat results of operations could be materially affected by dipengaruhi secara material oleh perubahan- changes in the estimates brought about by changes perubahan dalam estimasi yang diakibatkan oleh in the factors mentioned above. perubahan faktor-faktor yang disebutkan di atas.

55 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, AKUNTANSI SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued) Estimasi dan asumsi (lanjutan) Estimates and assumptions (continued) Liabilitas imbalan kerja karyawan Employee benefits liabilities Beban dari program pensiun manfaat pasti dan nilai The cost of defined benefit plan and present value kini dari kewajiban pensiun ditentukan oleh penilaian of the pension obligation are determined based aktuaris dengan menggunakan beberapa asumsi actuarial valuation which makes use of various diantaranya tingkat diskonto, tingkat pengembalian assumptions such as discount rates, expected rates dana yang diharapkan, tingkat kenaikan of return on plan assets, rates of compensation kompensasi dan tingkat kematian, kewajiban increases and mortality rates. The defined benefit manfaat pasti sangat sensitif terhadap perubahan obligation is highly sensitive to changes in the asumsi. Nilai tercatat liabilitas telah diungkapkan assumptions. The carrying amount of the obligation dalam Catatan 24. is disclosed in Note 24. Ketidakpastian kewajiban perpajakan Uncertain tax exposure Dalam situasi tertentu, Kelompok Usaha tidak dapat Income taxes In certain circumstances, the Group menentukan secara pasti jumlah liabilitas pajak may not be able to determine the exact amount of mereka pada saat ini atau masa depan karena its current or future tax liabilities due to ongoing proses pemeriksaan, atau negosiasi dengan otoritas investigations by, or negotiations with, the taxation perpajakan. Ketidakpastian timbul terkait dengan authority. Uncertainties exist with respect to the intepretasi dari peraturan perpajakan yang interpretation of complex tax regulations and the kompleks dan jumlah dan waktu dari pendapatan amount and timing of future taxable income. In kena pajak di masa depan. Dalam menentukan determining the amount to be recognized in respect jumlah yang harus diakui terkait dengan liabilitas of an uncertain tax liability, the Group applies similar pajak yang tidak pasti, Kelompok Usaha considerations as it would use in determining the menerapkan pertimbangan yang sama yang akan amount of a provision to be recognized in mereka gunakan dalam menentukan jumlah accordance with PSAK No. 57, "Provisions, cadangan yang harus diakui sesuai dengan PSAK Contingent Liabilities and Contingent Asset”. No. 57, "Provisi, Liabilitas Kontijensi dan Aset Income tax is disclosed in Note 11. Kontijensi". Pajak penghasilan telah diungkapkan dalam Catatan 11. Realisasi dari aset pajak tangguhan Realizability of deferred tax assets Kelompok Usaha melakukan reviu atas nilai tercatat The Group reviews the carrying amounts of deferred aset pajak tangguhan pada setiap akhir periode tax assets at the end of each reporting period and pelaporan dan mengurangi nilai tersebut sampai reduces these to the extent that it is no longer sebesar kemungkinan aset tersebut tidak dapat probable that sufficient taxable income will be direalisasikan, dimana penghasilan kena pajak yang available to allow all or part of the deferred tax tersedia memungkinkan untuk penggunaan seluruh assets to be utilized. atau sebagian dari aset pajak tangguhan tersebut. Penelaahan Kelompok Usaha atas pengakuan aset The Group’s assessment on the recognition of pajak tangguhan untuk perbedaan temporer yang deferred tax assets on deductible temporary dapat dikurangkan didasarkan atas tingkat dan differences is based on the level and timing of waktu dari penghasilan kena pajak yang ditaksirkan forecasted taxable income of the subsequent untuk periode pelaporan berikutnya. Taksiran ini reporting periods. This forecast is based on the berdasarkan hasil pencapaian Kelompok Usaha di Group’s past results and future expectations on masa lalu dan ekspektasi di masa depan terhadap revenues and expenses as well as future tax pendapatan dan beban, sebagaimana juga dengan planning strategies. However, there is no assurance strategi perencanaan perpajakan di masa depan. that the Group will generate sufficient taxable Tetapi tidak terdapat kepastian bahwa Kelompok income to allow all or part of the deferred tax assets Usaha dapat menghasilkan penghasilan kena pajak to be utilized. yang cukup untuk memungkinkan penggunaan sebagian atau seluruh bagian dari aset pajak tangguhan tersebut. Aset (liabilitas) pajak tangguhan diungkapkan dalam Deferred tax assets (liabilities) are disclosed in Note Catatan 11f. 11f.

56 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS

31 Desember/December 31, 2019 2018

Kas 1.598.780 1.885.406 Cash Bank 987.863.812 879.996.194 Bank Deposito 4.521.441.000 2.267.232.200 Time deposit Total 5.510.903.592 3.149.113.800 Total

Kas Cash Rupiah 1.380.498 1.645.800 Rupiah Dolar AS 218.224 239.549 US Dollar Dolar Singapura 58 57 Singapore Dollar Total 1.598.780 1.885.406 Total

Bank Bank Rupiah Rupiah Pihak Berelasi Related Parties PT Bank Mandiri (Persero) Tbk 304.344.693 76.628.371 PT Bank Mandiri (Persero) Tbk PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk 215.099.621 426.847.228 (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 145.406.833 187.592.625 (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 121.783.958 77.286.320 (Persero) Tbk PT Bank Syariah Mandiri Tbk 49.366.213 23.584.667 PT Bank Syariah Mandiri Tbk PT Bank BRI Syariah Tbk 2.183.409 1.518.123 PT Bank BRI Syariah Tbk Subtotal Pihak Berelasi 838.184.727 793.457.334 Subtotal Related Parties

Pihak Ketiga Third Parties PT Bank Bukopin Tbk 49.610.485 29.528.978 PT Bank Bukopin Tbk PT Bank Central Asia Tbk 21.042.288 21.273.251 PT Bank Central Asia Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Timur Tbk 6.181.996 1.222.216 Jawa Timur Tbk PT Bank CIMB Niaga Tbk 3.908.279 5.560.302 PT Bank CIMB Niaga Tbk PT Bank Muamalat Indonesia Tbk 2.038.231 1.493.691 PT Bank Muamalat Indonesia Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Sumatera Utara 536.033 - Sumatera Utara PT Bank Mega Tbk 444.874 115.823 PT Bank Mega Tbk PT Bank Permata Tbk 390.778 379.888 PT Bank Permata Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jabar dan Banten Tbk 368.613 112.249 Jabar dan Banten Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Kalimantan Timur 173.075 4.776 Kalimantan Timur Bank Sinarmas Syariah 31.654 31.806 Bank Sinarmas Syariah PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Khusus Ibu Kota Jakarta 930 - Khusus Ibu Kota Jakarta PT Bank Syariah Victoria 404 1.140 PT Bank Syariah Victoria PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Sumatera Barat - 521.551 Sumatera Barat

Subtotal Pihak Ketiga 84.727.640 60.245.671 Subtotal Third Parties Total Bank Rupiah 922.912.367 853.703.005 Total Bank Rupiah

57 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)

31 Desember/December 31, 2019 2018

Bank Bank Dolar AS US Dollar Pihak Berelasi Related Parties PT Bank Mandiri (Persero) Tbk 47.580.665 4.774.652 PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 8.832.538 15.250.725 (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 772.883 808.782 (Persero) Tbk Subtotal Pihak Berelasi 57.186.086 20.834.159 Subtotal Related Parties

Pihak Ketiga Third Parties PT Bank Muamalat Indonesia Tbk 4.480.799 2.048.001 PT Bank Muamalat Indonesia Tbk Citibank N.A 2.972.804 3.097.427 Citibank N.A. PT Bank Central Asia Tbk 308.146 308.996 PT Bank Central Asia Tbk PT Bank Permata Tbk 3.610 4.606 PT Bank Permata Tbk Subtotal Pihak Ketiga 7.765.359 5.459.030 Subtotal Third Parties Total Bank Dolar AS 64.951.445 26.293.189 Total Bank US Dollar Total Bank 987.863.812 879.996.194 Total Bank

Deposito Time Deposit Rupiah Rupiahs Pihak Berelasi Related Parties PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 684.000.000 99.000.000 (Persero) Tbk PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk 305.600.000 18.600.000 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 75.000.000 75.000.000 PT Bank Mandiri(Persero) Tbk PT Bank Tabungan Negara Syariah 41.900.000 21.900.000 PT Bank Tabungan Negara Syariah PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia Syariah (Persero) Tbk 15.000.000 - (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 12.500.000 184.500.000 (Persero) Tbk PT Bank Negara Indonesia Syariah PT Bank Negara Indonesia Syariah (Persero) Tbk - 110.000.000 (Persero) Tbk

Subtotal Pihak Berelasi 1.134.000.000 509.000.000 Subtotal Related Parties

Pihak Ketiga Third Parties PT Bank Bukopin Tbk 1.912.100.000 735.100.000 PT Bank Bukopin Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jabar dan Banten Tbk 900.000.000 139.300.000 Jabar dan Banten Tbk PT Bank Mega Tbk 5.400.000 5.400.000 PT Bank Mega Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Sumatera Barat - 43.000.000 Sumatera Barat PT Bank Muamalat PT Bank Muamalat Indonesia Tbk - 21.600.000 Indonesia Tbk Subtotal Pihak Ketiga 2.817.500.000 944.400.000 Subtotal Third Parties Total Deposito Rupiah 3.951.500.000 1.453.400.000 Total Time Deposits Rupiah

58 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)

31 Desember/December 31, 2019 2018

Dolar AS US Dollar Pihak Berelasi Related Parties PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 208.515.000 115.848.000 (Persero) Tbk PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk 111.208.000 - (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 90.356.500 176.668.200 (Persero) Tbk PT Bank Mandiri (Persero) Tbk - 43.443.000 PT Bank Mandiri (Persero) Tbk

Subtotal Pihak Berelasi 410.079.500 335.959.200 Subtotal Related Parties

Dolar AS US Dollar Pihak Ketiga Third Parties PT Bank Bukopin Tbk 159.861.500 152.050.500 PT Bank Bukopin Tbk PT Bank Mega Tbk - 166.531.500 PT Bank Mega Tbk PT Bank Muamalat Indonesia Tbk - 159.291.000 PT Bank Muamalat Indonesia Tbk

Subtotal Pihak Ketiga 159.861.500 477.873.000 Subtotal Third Parties Total Deposito Dolar AS 569.941.000 813.832.200 Total Time Deposits US Dollar Total Deposito 4.521.441.000 2.267.232.200 Total Time Deposits

Total Kas dan Setara Kas 5.510.903.592 3.149.113.800 Total Cash and Cash Equivalents

Rupiah Rupiah Deposito Berjangka 5,50% - 8,00% 7,40% - 9,00% Time Deposit Deposito On Call 7,25% - 7,60% 5,50% - 9,25% Deposit On Call

Dolar AS US Dollar Deposito Berjangka 2,50% - 3,20% 2,60% - 3,75% Time Deposit

5. INVESTASI JANGKA PENDEK 5. SHORT-TERM INVESTMENTS

a. Investasi jangka pendek terdiri dari: a. Short-term investments consist of:

31 Desember/December 31, 2019 2018

Reksadana 378.232.220 458.950.737 Mutual fund Deposito berjangka > 3 bulan 264.839.700 - Time Deposit > 3 months Obligasi - tersedia untuk dijual 22.790.392 19.156.044 Bonds - available for sale Total 665.862.312 478.106.781 Total

59 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

5. INVESTASI JANGKA PENDEK (lanjutan) 5. SHORT-TERM INVESTMENTS (continued)

a. Investasi jangka pendek terdiri dari: a. Short-term investments consist of: (lanjutan) (continued)

1) Deposito berjangka lebih dari 3 bulan 1) Time Deposits above 3 months up to 1 sampai dengan 1 tahun year

31 Desember/December 31, 2019 31 Desember/December 31, 2018

Nilai nominal/ Nilai tercatat/ Nilai Nominal/ Nilai tercatat/ Nominal value Carrying value Nominal value Carrying value

Rupiah Rupiah Pihak Ketiga ThirdParties PT Bank Bukopin 105.000.000 105.000.000 - - PT Bank Bukopin PT Bank Pembangunan PT Bank Pembangunan Daerah Daerah Sumatera Barat 25.000.000 25.000.000 - - Sumatera Barat

Sub-total Rupiah 130.000.000 130.000.000 - - Subtotal Rupiah

Dolar AS US Dollar Pihak Berelasi Related Parties PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 134.839.700 134.839.700 - - (Persero) Tbk

Sub-total Dolar AS 134.839.700 134.839.700 - - Subtotal US Dollar

Total Deposito Berjangka 264.839.700 264.839.700 - - Total Time Deposits

2) Obligasi - tersedia untuk dijual 2) Bonds - available for sale

31 Desember/December 31, 2019 31 Desember/December 31, 2018

Nilai nominal/ Nilai tercatat/ Nilai nominal/ Nilai tercatat/ Nominal value Carrying value Nominal value Carrying value

Rupiah Rupiah Pihak Berelasi Related Parties ORI (IDR) 7%, 2030, AFS 5.000.000 4.925.000 - - ORI (IDR) 7%, 2030, AFS TINS (IDR) 8,5%, 2022, AFS 4.000.000 3.990.400 - - TINS (IDR) 8,5%, 2022, AFS

Sub-total Rupiah 9.000.000 8.915.400 - - Subtotal Rupiah

Dolar AS US Dollar Pihak Berelasi Related Parties PLN (USD) 5,5%, 2021, AFS 9.670.000 13.874.992 9.670.000 19.156.044 PLN (USD) 5,5%, 2021, AFS

Sub-total Dolar AS 9.670.000 13.874.992 9.670.000 19.156.044 Subtotal US Dollar

Total Obligasi 18.670.000 22.790.392 9.670.000 19.156.044 Bonds total

60 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

5. INVESTASI JANGKA PENDEK (lanjutan) 5. SHORT-TERM INVESTMENTS (continued)

a. Investasi jangka pendek terdiri dari: a. Short-term investments consist of: (lanjutan) (continued)

3) Reksadana - tersedia untuk dijual 3) Mutual fund - available for sale

31 Desember/December 31, 2019 31 Desember/December 31, 2018

Nilai Nominal/ Nilai tercatat/ Nilai Nominal/ Nilai tercatat/ Nominal Value Carrying Value Nominal Value Carrying Value

Rupiah Rupiah Pihak Ketiga Third Parties Danamas Stabil 26.000.000 45.794.966 26.000.000 42.683.577 Danamas Stabil RDT Simas BUMN Fund 40.000.000 40.000.000 40.000.000 40.000.000 RDT Simas BUMN Fund RDT Panin 7 20.000.000 30.000.000 20.000.000 30.000.000 RDT Panin 7 Trim Kapital Plus 20.000.000 28.272.134 20.000.000 28.849.896 Trim Kapital Plus SAM Indonesian Equity Fund 30.000.000 28.058.839 30.000.000 27.143.809 SAM Indonesian Equity Fund Panin Dana Maksima 19.975.062 27.503.050 19.975.062 27.327.508 Panin Dana Maksima Panin Dana Bersama Plus 20.000.000 25.155.757 20.000.000 24.770.159 Panin Dana Bersama Plus RDT Panin 2 20.000.000 20.000.000 20.000.000 20.000.000 RDT Panin 2 Simas Satu 10.005.130 15.425.655 10.005.130 14.999.734 Simas Satu Panin Dana Unggulan 10.000.000 15.200.859 10.000.000 14.688.685 Panin Dana Unggulan Panin Dana Prima 10.000.000 14.968.060 10.000.000 15.342.709 Panin Dana Prima Syailendra Equity 10.000.000 14.299.629 10.000.000 14.781.699 Syailendra Equity RDT Simas Cemerlang 8 10.000.000 10.000.000 10.000.000 10.000.000 RDT Simas Cemerlang 8 RDT Panin 12 10.000.000 10.000.000 - - RDT Panin 12 HPAM Flexi Plus 10.000.000 9.385.927 10.000.000 8.175.506 HPAM Flexi Plus Panin Infrastruktur 10.000.000 9.327.455 10.000.000 9.637.032 Panin Infrastruktur RDT Simas Gemilang 11 - - 30.000.000 30.000.000 RDT Simas Gemilang 11 RDT Simas Cemerlang 2 - - 15.000.000 15.000.000 RDT Simas Cemerlang 2 RDT Simas Gemilang 14 - - 10.000.000 10.000.000 RDT Simas Gemilang 14 Lain-lain - - - 138.851 Others

Sub-total Rupiah 275.980.192 343.392.331 320.980.192 383.539.165 Subtotal Rupiah

Dalam mata uang asing: In foreign currencies: Pihak Berelasi Related Parties Danareksa Melati Premium - - 43.212.000 42.874.354 Danareksa Melati Premium

Pihak Ketiga: Third Parties: Panin Dana Infrastruktur 28.808.000 34.839.889 28.808.000 32.537.218 Panin Dana Infrastruktur

Sub-total Dolar AS 28.808.000 34.839.889 72.020.000 75.411.572 Subtotal US Dollar

Total Reksadana 304.788.192 378.232.220 393.000.192 458.950.737 Total Mutual fund

b. Berdasarkan jatuh tempo b. Based on maturity

31 Desember/December 31, 2019 2018 Kurang dari 1 tahun 643.071.921 458.950.737 Less than 1 year 1 - 5 tahun 22.790.391 19.156.044 1 - 5 years Total 665.862.312 478.106.781 Total

c. Tingkat suku bunga c. Interest rate

31 Desember/December 31, 2019 2018 Rupiah: Rupiah: Deposito 7,30% - 8,75% 7,20%-8,75% Deposits Obligasi 7,00% - 8,50% - Bonds Dollar AS: US Dollar: Obligasi 2,60% - 3,60% 2,60%-3,60% Bonds

61 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

5. INVESTASI JANGKA PENDEK (lanjutan) 5. SHORT-TERM INVESTMENTS (continued)

d. Keuntungan yang belum direalisasi dari aset d. Unrealised gains from financial assets keuangan yang tersedia untuk dijual available for sale 31 Desember/December 31,

2019 2018

Nilai wajar pada awal tahun 478.106.781 377.777.808 Fair value at beginning Penambahan nilai investasi 33.319.096 100.000.000 Additional investments Pengurangan nilai investasi (88.217.130) (30.010.000) Disposal investments Tersedia untuk dijual 423.208.747 447.767.808 Available for sale Nilai wajar pada akhir periode 401.022.612 478.106.781 Fair value at year end Diakui sebagai laba (rugi) Recognized as profit (loss) tahun berjalan 22.186.135 (11.182.929) for the year Keuntungan (kerugian) belum Unrealized gain (loss) direalisasi yang diakui sebagai are recognized as other penghasilan komprehensif lain 12.293.462 (2.769.906) comprehensive income

Nilai wajar seluruh aset keuangan tersedia The fair value of all available-for-sale financial untuk dijual berdasarkan harga penawaran assets is based on the current bid price in active yang berlaku dalam pasar yang aktif dan input markets and observable inputs other than selain harga pasar yang dapat diobservasi. quoted prices. For further information about the Untuk informasi lebih lanjut mengenai metode methods used and assumptions applied in dan asumsi yang digunakan dalam menentukan determining fair value in Note 2y. nilai wajar pada Catatan 2y.

6. PIUTANG USAHA 6. TRADE RECEIVABLES

Rincian piutang usaha adalah sebagai berikut: The details of trade receivables are as follows:

31 Desember/December 31, 2019 2018 Pihak Berelasi Related Parties PT Merpati Nusantara Airlines 50.889.126 51.115.744 PT Merpati Nusantara Airlines PT Garuda Indonesia PT Garuda Indonesia (Persero) Tbk 43.519.554 31.330.940 (Persero) Tbk PT Aerofood Indonesia 31.852.138 - PT Aerofood Indonesia PT Telekomunikasi Seluler 10.564.798 - PT Telekomunikasi Seluler PT Indonesia 8.882.683 - PT Citilink Indonesia PT Pertamina (Persero) 8.802.387 24.748.821 PT Pertamina (Persero) PT Gapura Angkasa 8.271.374 6.926.812 PT Gapura Angkasa PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 6.347.132 8.230.036 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 2.528.954 6.641.851 PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk 2.179.914 1.839.957 PT Bank Negara Indonesia (Persero) Tbk PT Propernas Griya Utama 2.035.474 - PT Propernas Griya Utama Kokapura 1.776.599 3.349.026 Kokapura PT Waskita Karya PT Waskita Karya (Persero) Tbk 1.616.000 - (Persero) Tbk Instansi Pemerintah 1.498.456 2.345.135 Government Institution PT Nindya Karya (Persero) 1.232.000 - PT Nindya Karya (Persero) Perum LPPNPI 999.634 901.910 Perum LPPNPI Lain-lain 8.577.492 5.868.814 Others Sub-total pihak berelasi 191.573.715 143.299.046 Subtotal related parties

Penyisihan kerugian penurunan nilai (53.120.595) (52.965.004) Allowance for impairment loss Total pihak berelasi 138.453.120 90.334.042 Total related parties

62 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)

Rincian piutang usaha adalah sebagai berikut The details of trade receivables are as follows (lanjutan): (continued): 31 Desember/December 31,

2019 2018 Pihak Ketiga Third Parties Perusahaan swasta 328.390.837 375.977.010 Private companies Maskapai luar negeri 80.782.716 71.860.084 Foreign airlines Maskapai dalam negeri 62.167.571 55.609.776 Domestic airlines Sub-total Pihak Ketiga 471.341.124 503.446.870 Subtotal Third Parties Penyisihan kerugian penurunan nilai (82.027.117) (83.871.690) Allowance for impairment loss

Total pihak ketiga 389.314.007 419.575.180 Total third parties Total piutang usaha 662.914.839 646.745.916 Total trade receivables Penyisihan kerugian penurunan nilai (135.147.712) (136.836.694) Allowance for impairment loss

Total piutang usaha neto 527.767.127 509.909.222 Total trade receivables net

Rincian piutang usaha sesuai denominasi mata The details of trade receivables denominated in their uangnya sebagai berikut : currencies are as follows :

31 Desember/December 31, 2019 2018

Rupiah 438.231.005 458.717.870 Rupiah Dolar AS 89.536.122 51.191.352 US Dollar Total 527.767.127 509.909.222 Total

Mutasi penyisihan kerugian penurunan nilai adalah The movements in the allowance for impairment sebagai berikut: loss are as follows:

31 Desember/December 31, 2019 2018 Saldo awal 136.836.694 139.602.882 Beginning balance Penyisihan tahun berjalan 24.471.421 41.337.087 Allowance during current year Penghapusan periode berjalan (4.578.131) (295.560) Write-off during current year Pelunasan tahun berjalan (21.582.272) (43.807.715) Repayments during the year Saldo akhir tahun 135.147.712 136.836.694 Balance at the end of the year

Rincian piutang usaha berdasarkan umur piutang: The details of trade receivables based on aging schedule: 31 Desember/December 31, 2019 2018

0 - 90 hari 448.562.817 418.937.990 0 - 90 days 91 - 180 hari 18.207.430 21.416.272 91 - 180 days 181 - 360 hari 15.578.691 16.351.565 181 - 360 days > 360 hari 180.565.901 190.040.089 > 360 days Penyisihan kerugian penurunan nilai (135.147.712) (136.836.694) Allowance for impairment loss Total 527.767.127 509.909.222 Total

63 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)

Piutang kepada PT Merpati Nusantara Airlines Receivables from PT Merpati Nusantara Airlines sebesar Rp50.889.126 sudah dinyatakan macet dan amounting to Rp50,889,126 has been declared to atas semua saldo piutang tersebut telah dilakukan be impaired and all outstanding balances of cadangan penurunan nilai. PT Merpati Nusantara receivables have been impaired. PT Merpati Airline telah mengajukan Penundaan Kewajiban Nusantara Airlines has filed Penundaan Kewajiban Pembayaran Utang (PKPU) yang telah disetujui oleh Pembayaran Utang (PKPU) that has been agreed Pengadilan Niaga pada Pengadilan Negeri by Business Court on November 14, 2018. Surabaya tanggal 14 November 2018. Dalam According to the sentence, the balance of the keputusan tersebut, disebutkan bahwa saldo Company’s receivables from PT Merpati Nusantara piutang Perusahaan kepada PT Merpati Nusantara Airline amounting to Rp50,796,430,126 (full Airline sebesar Rp50.796.430.126 (angka penuh). amount). The amount is based on exchange rate on Saldo tersebut berdasarkan kurs tanggal February 6, 2018. 6 Februari 2018.

Berdasarkan hasil penelaahan kolektibilitas akun Based on the review of the collectibility of the trade piutang usaha pada akhir tahun, manajemen receivables at the end of the year, the management berkeyakinan bahwa cadangan penurunan nilai believes that the above allowance for impairment in piutang usaha di atas adalah cukup. value of trade receivables is sufficient.

Pada tanggal 31 Desember 2019, tidak terdapat As of December 31, 2019, there are no trade piutang usaha yang dijaminkan sehubungan dengan receivables sold with recourse nor used as collateral liabilitas apapun. for any obligations.

7. PIUTANG LAIN-LAIN 7. OTHER RECEIVABLES

Piutang lain-lain terdiri dari: Other receivables consist of:

31 Desember/December 31, 2019 2018

Pihak ketiga 83.990.931 43.363.358 Third parties Penyisihan kerugian penurunan nilai (3.646.740) (3.651.672) Allowance for Impairment loss Total piutang lain-lain 80.344.191 39.711.686 Total other receivables

Mutasi penyisihan kerugian penurunan piutang The movements in the allowance for impairment adalah sebagai berikut: loss are as follows:

31 Desember/December 31,

2019 2018 Saldo awal 3.651.672 1.731.631 Beginning balance Penyisihan tahun berjalan - 2.012.700 Allowance during the year Pemulihan tahun berjalan (4.932) (92.659) Recovery during the year Saldo akhir tahun 3.646.740 3.651.672 Balance at the end of the year

64 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)

Analisis umur piutang lain-lain adalah sebagai The aging analysis of other receivables is as berikut: follows:

31 Desember/December 31,

2019 2018

Belum jatuh tempo 32.468.797 37.377.923 Not yet due 0 - 1 tahun 21.153.934 2.782.702 0 - 1 year diatas 1 tahun 30.368.200 3.202.733 above 1 years Saldo akhir tahun 83.990.931 43.363.358 Balance at the end of the year

Penyisihan kerugian penurunan nilai (3.646.740) (3.651.672) Allowance for impairment loss Total 80.344.191 39.711.686 Total

Berdasarkan hasil penelaahan kolektibilitas akun Based on the review of the collectibility of the other piutang lain-lain pada akhir tahun, manajemen receivables at the end of the year, the management berkeyakinan bahwa penyisihan kerugian believes that the above allowance for impairment penurunan nilai piutang lain-lain di atas adalah loss of other receivables is sufficient. cukup.

8. PERSEDIAAN 8. INVENTORIES

Persediaan terdiri dari: Inventories consist of:

31 Desember/December 31, 2019 2018

Persediaan alat kantor dan percetakan 30.264.587 33.832.717 Office supplies and equipment Persediaan barang dagang 18.274.762 5.941.208 Merchandise inventory Suku cadang pemeliharaan 17.195.257 42.264.931 Maintenance spare-part Persediaan bahan bakar 2.446.291 2.472.880 Fuel supplies Persedian hotel dan lounge 1.260.045 1.861.512 Hotel and lounge supplies

Total 69.440.942 86.373.248 Total Penyisihan penurunan nilai (36.916) (1.565.428) Allowance for impairment loss Total 69.404.026 84.807.820 Total

Pada tanggal 31 Desember 2019 dan 2018, As of December 31, 2019 and 2018, allowance for cadangan penyisihan kerugian penurunan nilai impairment loss of inventories with the condition of persediaan dengan kondisi barang rusak masing- damaged goods amounting to Rp36,916 and masing sebesar Rp36.916 dan Rp1.565.428. Rp1,565,428, respectively.

Berdasarkan hasil penelaahan pada akhir tahun, Based on the review at the end of the year, the manajemen berkeyakinan bahwa penyisihan management believes that the above allowance for penurunan nilai persediaan di atas adalah cukup. impairment loss of inventories is sufficient.

Pada tanggal 31 Desember 2019 dan 2018, tidak As of December 31, 2019 and 2018, there are no terdapat persediaan yang dijaminkan sehubungan guaranteed inventory in respect of any liability and dengan liabilitas apapun dan tidak terdapat no insured inventory. persediaan yang diasuransikan.

65 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

9. UANG MUKA DAN BEBAN DIBAYAR DI MUKA 9. ADVANCES AND PREPAID EXPENSES

Uang muka dan beban dibayar di muka terdiri dari: Advances and prepaid expenses consist of: 31 Desember/December 31,

2019 2018

Pembelian persediaan 56.846.547 63.986.012 Inventories purchase Asuransi 29.619.998 20.884.665 Insurance Biaya karyawan dibayar di muka 26.919.139 54.295.987 Employees paid in advanced Umum 12.585.665 40.641.635 General Kontribusi tetap (Catatan 42) 10.296.694 - Permanent contribution (Note 42) Lain-lain 16.356.797 13.894.282 Miscellaneous Total 152.624.840 193.702.581 Total

Bagian jangka pendek (139.959.625) (159.380.727) Current portion Bagian jangka panjang 12.665.215 34.321.854 Non-current portion

Asuransi merupakan asuransi dibayar di muka atas Insurance represents prepaid expenses insurance aset tetap Perusahaan. for fixed assets of the Company.

Biaya karyawan dibayar dimuka adalah pembayaran Employees paid in advanced are residential paid biaya bantuan uang sewa rumah kepada karyawan assistance to employees of the Company. Perusahaan.

Uang muka dan beban dibayar di muka lain-lain Miscellaneous advances and prepaid expenses are terutama sehubungan dengan pemakaian mainly consist of the use of supplies, rent and persediaan, sewa dan beban umum. general expenses.

10. PENDAPATAN YANG MASIH HARUS DITERIMA 10. ACCRUED REVENUES 31 Desember/December 31, 2019 2018

Non-aeronautika 152.838.505 101.384.284 Non-aeronautical Aeronautika 131.198.556 191.618.705 Aeronautical Lainnya 6.985.377 5.441.340 Others Total 291.022.438 298.444.329 Total

Pendapatan yang masih harus diterima untuk Accrued revenues of aeronautical consist of Aircraft aeronautika mencakup pendapatan-pendapatan Landing, Placing and Storing Service (PJP4U), atas Jasa Pendaratan, Penempatan dan Aircraft Passanger Handling Service (PJP2U), Penyimpanan Pesawat Udara (PJP4U), Jasa Cargo and Post Services (PJKP2U), aviobridge Penumpang Pesawat Udara (PJP2U), Jasa Kargo services and extended fee. dan Pos Pesawat Udara (PJKP2U), jasa aviobridge dan extended fee.

Pendapatan yang masih harus diterima untuk non- Accrued revenues of non-aeronautical consist of aeronautika mencakup pendapatan-pendapatan revenues for space rental services, use of atas jasa sewa ruang, pemakaian jasa gudang, warehouse, land rental, concessions, parking, sewa tanah, konsesi, parkir, pemakaian electricity/telephone/water, the use of premium listrik/telepon/air, pemakaian premium lounge dan lounges and other services. jasa lainnya.

Pendapatan yang masih harus diterima lainnya Other accrued revenues consist of the interest merupakan akrual atas pendapatan bunga deposito. income on deposits. 66 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN 11. TAXATION

a. Pajak dibayar di muka a. Prepaid taxes

Pajak dibayar di muka Prepaid taxes

31 Desember/December 31, 2019 2018

Perusahaan The Company PPN masukan 631.013.856 226.983.245 VAT in

Entitas anak Subsidiaries PPN masukan 209.943.948 136.434.386 VAT in PPh pasal 28 - 4.447.597 Income tax article 28

Total 840.957.804 367.865.228 Total

b. Estimasi tagihan pajak b. Estimated claims for refundable tax

31 Desember/December 31, 2019 2018

Perusahaan The Company PPh pasal 28 99.018.495 - Income tax article 28

Entitas anak Subsidiaries PPh pasal 28 13.692.596 - Income tax article 28

Total 112.711.091 - Total

c. Utang pajak c. Tax payables

31 Desember/December 31,

2019 2018

Perusahaan The Company PPN masukan 149.507.016 146.625.340 VAT in PPN keluaran 91.028.438 82.383.245 VAT out PPh pasal 4 (2) 66.273.593 37.900.041 Income tax article 4 (2) PPh pasal 25 16.558.482 15.356.191 Income tax article 25 PPh pasal 21 7.412.242 21.614.793 Income tax article 21 PPh pasal 23 3.688.088 3.442.568 Income tax article 23 PPh pasal 22 1.147.767 389.065 Income tax article 22 PPh pasal 29 - 363.867 Income tax article 29

67 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN (lanjutan) 11. TAXATION (continued)

c. Utang pajak (lanjutan) c. Tax payables (continued) 31 Desember/December 31,

2019 2018 Entitas anak Subsidiaries PPN keluaran 76.519.623 51.980.117 VAT out PPh pasal 25 4.875.814 21.256.161 Income tax article 25 PPh pasal 23 4.220.704 1.155.068 Income tax article 23 PPh pasal 21 2.114.579 1.631.341 Income tax article 21 PPh pasal 4 (2) 1.016.195 1.427.679 Income tax article 4 (2) PPh pasal 29 - 5.233.947 Income tax article 29 Pajak lainnya 1.139.674 2.476.194 Other taxes Total 425.502.215 393.235.617 Total

d. Beban pajak penghasilan badan d. Corporate Income tax expense Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018

Pajak kini Current tax Perusahaan The Company Tahun berjalan 386.268.737 436.526.257 Current year Hasil ketetapan pajak 31.482.404 21.942.480 Tax assessment letter Entitas anak 64.528.773 76.318.225 Subsidiaries Sub-total 482.279.914 534.786.962 Subtotal Pajak tangguhan Deffered tax Perusahaan 11.625.602 159.890.059 The Company Entitas anak (1.597.437) (5.661.123) Subsidiaries Sub-total 10.028.165 154.228.936 Subtotal Total 492.308.079 689.015.898 Total

e. Taksiran pajak penghasilan e. Provision for income tax Rekonsiliasi antara laba sebelum pajak The reconciliation between profit before penghasilan badan, seperti yang disajikan corporate income tax, as shown in the dalam laporan laba rugi dan penghasilan consolidated statement profit or loss and komprehensif lain konsolidasian, dan taksiran comprehensive income, and estimated taxable pendapatan kena pajak Perusahaan adalah income of the Company is as follows: sebagai berikut: Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018 Laba sebelum pajak penghasilan Profit before corporate income tax badan menurut laporan laba rugi in consolidated statement dan penghasilan komprehensif lain of profit or loss and konsolidasian 1.944.535.245 2.694.934.057 other comprehensive income Dikurangi: Less: Laba entitas anak sebelum beban Profit of subsidiaries before pajak penghasilan badan corporate income tax expense dan efek eliminasi (89.998.403) (218.617.188) and elimination effect Laba Perusahaan sebelum Profit before corporate income tax pajak penghasilan badan 1.854.536.842 2.476.316.869 attributable to the Company 68 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN (lanjutan) 11. TAXATION (continued)

e. Taksiran pajak penghasilan (lanjutan) e. Provision for income tax (continued)

Rekonsiliasi antara laba sebelum pajak The reconciliation between profit before penghasilan badan, seperti yang disajikan corporate income tax, as shown in the dalam laporan laba rugi dan penghasilan consolidated statement profit or loss and komprehensif lain konsolidasian, dan taksiran comprehensive income, and estimated taxable pendapatan kena pajak Perusahaan adalah income of the Company is as follows: sebagai berikut: (lanjutan) (continued)

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018 Laba Perusahaan sebelum Profit before corporate income tax pajak penghasilan badan 1.854.536.842 2.476.316.869 attributable to the Company Penghasilan dikenakan pajak final (613.070.376) (478.814.962) Income subject to final tax Laba Perusahaan sebelum Profit before corporate income tax pajak penghasilan badan after expenses (revenues) setelah beban (penghasilan) subjected to final tax yang pajaknya bersifat final 1.241.466.466 1.997.501.907 attributable to the Company

Ditambah (dikurangi): Add (deduct): Beda tetap: Permanent difference: Beban tidak dapat dikurangkan 332.928.349 230.644.411 Non-deductible expenses Beda waktu: Temporary difference: Penyisihan penurunan nilai 15.788.666 36.315.241 Allowance for impairment losses Penyusutan (57.382.532) (175.301.589) Depreciation Imbalan kerja karyawan 12.273.999 (343.054.942) Employee benefits Sub-total 303.608.482 (251.396.879) Subtotal

Taksiran penghasilan kena Estimated taxable income pajak Perusahaan 1.545.074.948 1.746.105.028 of the Company

Beban pajak penghasilan 386.268.737 436.526.257 Income tax expense

Dikurangi: Deducted: Pajak dibayar di muka Prepaid tax PPh pasal 23 286.585.442 251.888.095 Income tax article 23 PPh pasal 25 198.701.790 184.274.295 Income tax article 25

Total 485.287.232 436.162.390 Total

Taksiran (tagihan)/utang Estimated income pajak penghasilan (99.018.495) 363.867 tax (claims)/payable

Perhitungan taksiran pajak penghasilan kena The calculation of estimated taxable income at pajak pada akhir tahun menjadi dasar dalam the end of the year is used as a basis in filling pengisian Surat Pemberitahuan Tahunan Pajak the annual corporate income tax return. Penghasilan Badan.

Berdasarkan undang-undang perpajakan yang Based on the taxation laws of Indonesia, berlaku di Indonesia, entitas-entitas di dalam entities within the group calculate and pay tax group menghitung dan membayar sendiri on the basis of self assesment. The Directorate besarnya jumlah pajak yang terutang. General of Tax may asess or amend tax Direktorat Jenderal Pajak dapat menetapkan liabilities within 5 (five) years of the time the tax atau mengubah liabilitas pajak dalam batas becomes due. waktu 5 (lima) tahun sejak saat terutangnya pajak.

69 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN (lanjutan) 11. TAXATION (continued)

e. Taksiran pajak penghasilan (lanjutan) e. Provision for income tax (continued)

Rekonsiliasi antara hasil perkalian laba The reconciliation between the result of the akuntansi sebelum pajak penghasilan badan multiplication of accounting income before dengan tarif pajak yang berlaku dan beban corporate income tax with the current tax rate and pajak penghasilan sebagai berikut: income tax expense is as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018 Laba sebelum pajak penghasilan Profit before corporate income tax badan menurut laporan laba rugi in consolidated statement dan penghasilan komprehensif lain of profit or loss and konsolidasian 1.944.535.245 2.694.934.057 other comprehensive income

Beban pajak penghasilan berdasarkan tarif pajak Income tax expense based on yang berlaku 486.133.811 673.733.514 applicable tax rate Beban tidak dapat dikurangkan 167.480.449 168.924.584 Non-deductible expenses Hasil ketetapan pajak 31.606.369 21.942.480 Tax assessment letter Pendapatan yang dikenakan pajak final (220.078.424) (232.279.225) Penyesuaian 27.165.874 56.694.545 Adjustment

Beban pajak penghasilan 492.308.079 689.015.898 Income tax expense

f. Aset/liabilitas pajak tangguhan f. Deferred tax assets/liabilities

31 Desember/December 31,

2019 2018

Aset pajak tangguhan: Deferred tax assets: Entitas anak 48.494.898 41.157.712 Subsidiaries

Total 48.494.898 41.157.712 Total

Liabilitas pajak tangguhan: Deferred tax liabilities: Perusahaan 68.729.872 85.652.386 The Company Entitas anak 11.155.632 3.427.435 Subsidiaries

Total 79.885.504 89.079.821 Total

70 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN (lanjutan) 11. TAXATION (continued)

f. Pajak tangguhan (lanjutan) f. Deferred taxes (continued)

Perhitungan beban (manfaat) dan aset pajak The calculation of deferred tax expense tangguhan sebagai berikut: (benefit) and deferred tax assets is as follows:

Tahun yang berakhir pada tanggal 31 Desember 2019/ Year ended December 31, 2019

Dikreditkan (dibebankan) ke laba rugi/ Dikreditkan Credited ke ekuitas/ 1 Januari 2019/ (charged) Credited Penyesuaian/ 31 Desember 2019/ January 1, 2019 to profit or loss to equity Adjustment December 31, 2019

Aset pajak tangguhan Deferred tax asset Entitas anak 41.157.712 7.500.013 202.705 (365.532) 48.494.898 Subsidiaries

Aset (liabilitas) Pajak tangguhan Deferred tax asset (liabilities) Perusahaan: The Company: Penyisihan penurunan nilai Allowance for impairment value piutang usaha 32.341.659 3.947.166 - (4.295.636) 31.993.189 of trade receivable Penyisihan penurunan nilai Allowance for impairment value piutang non-usaha 911.685 - - - 911.685 of other receivable Akumulasi penyusutan dan Accumulated depreciation amortisasi aset tetap, and amortization of properti investasi dan fixed assets, property aset tak berwujud (190.462.264) (14.345.633) - - (204.807.897) investment & intangible assets Imbalan kerja karyawan 71.556.534 3.068.500 28.548.116 - 103.173.150 Employee benefits

Subtotal (85.652.386) (7.329.967) 28.548.116 (4.295.636) (68.729.873) Subtotal

Entitas anak (3.427.435) (4.940.189) 7.471 (2.795.478) (11.155.631) Subsidiaries, net

Total (89.079.821) (12.270.156) 28.555.587 (7.091.114) (79.885.504) Total

Tahun yang berakhir pada tanggal 31 Desember 2018/ Year ended December 31, 2018

Dikreditkan (dibebankan) ke laba rugi/ Dikreditkan Credited ke ekuitas/ 1 Januari 2018/ (charged) Credited Penyesuaian/ 31 Desember 2018/ January 1, 2018 to profit or loss to equity Adjustment December 31, 2018

Aset pajak tangguhan Deferred tax asset Entitas anak 50.673.919 16.835.635 211.439 (26.563.281) 41.157.712 Subsidiaries

Aset (liabilitas) pajak tangguhan Deferred tax asset (liabilities) Perusahaan: The Company: Penyisihan penurunan nilai Allowance for impairment value piutang usaha 38.024.309 26.723.620 - (32.406.270) 32.341.659 of trade receivable Penyisihan penurunan nilai Allowance for impairment value piutang non-usaha 745.063 1.184.062 - (1.017.440) 911.685 of other receivable Akumulasi penyusutan dan Accumulated depreciation amortisasi aset tetap, and amortization of properti investasi dan fixed assets, property aset tak berwujud (109.400.823) (157.683.225) - 76.621.784 (190.462.264) investment & intangible assets Imbalan kerja karyawan 96.048.942 (30.114.516) 22.256.901 (16.634.793) 71.556.534 Employee benefits

Subtotal 25.417.491 (159.890.059) 22.256.901 26.563.281 (85.652.386) Subtotal

Entitas anak 7.771.728 (11.174.512) (24.651) - (3.427.435) Subsidiaries, net

Total 33.189.219 (171.064.570) 22.232.250 26.563.281 (89.079.821) Total

71 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

11. PERPAJAKAN (lanjutan) 11. TAXATION (continued)

g. Surat ketetapan pajak g. Tax assessment letters

Pada tahun 2019, Perusahaan menerima In 2019, the Company received tax assesment beberapa surat ketetapan pajak kurang bayar letters on underpayment of certain taxes for atas beberapa jenis pajak untuk tahun pajak fiscal year 2016. In relation to assessment of 2016. Atas ketetapan kurang bayar pajak underpayment, the Company recognized tersebut, Perusahaan mengakui beban sebesar expenses amounted to Rp60,434,397 in Rp60.434.397 dalam laporan laba rugi dan consolidated statement of profit or loss and penghasilan komprehensif lain konsolidasian other comprehensive income for 2019. tahun 2019.

12. ASET LANCAR LAINNYA 12. OTHER CURRENT ASSETS

Akun ini terutama merupakan uang muka proyek This account mainly represents advance for dan jaminan. projects and deposits.

13. INVESTASI JANGKA PANJANG 13. LONG-TERM INVESTMENTS

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Nilai nominal/ Nilai tercatat/ Nilai nominal/ Nilai tercatat/ Nominal value Carrying value Nominal value Carrying value

Obligasi: Bonds: RI0148 15.206.000 15.277.200 15.206.000 13.361.105 RI0148 BEXI04BCN7 10.000.000 10.070.100 - - BEXI04BCN7

Penyertaan saham pada entitas Investments in shares of asosiasi: associates: PT Gapura Angkasa 21.504.000 55.511.460 21.504.000 50.829.179 PT Gapura Angkasa PT Jasa Marga Bali Tol 59.635.000 28.960.425 59.635.000 36.472.028 PT Jasa Marga Bali Tol

Total 106.345.000 109.819.185 96.345.000 100.662.312 Total

a. Penyertaan saham pada entitas asosiasi a. Investment in shares of associates

PT Gapura Angkasa (“Gapura”) PT Gapura Angkasa (“Gapura”)

Gapura bergerak dalam bidang jasa penunjang Gapura is engaged in ground handling of air pengangkutan udara (ground handling) dan freight and freight transport services. pengangkutan barang. Perusahaan memiliki kepemilikan saham di The Company has investment in shares of Gapura sebanyak 215.040 saham atau sebesar stock in Gapura amounted to 215,040 shares or 7,76% kepemilikan pada tahun 2019 dan 7.76% ownership in 2019 and 10.00% 10,00% kepemilikan pada tahun 2018 dan ownership in 2018 and are recorded using dicatat dengan menggunakan metode ekuitas equity method due to investee significant karena adanya pengaruh signifikan di investee influence in accordance with PSAK 15 sesuai PSAK 15 Paragraf 6 dan 16. Rinciannya Paragraphs 6 and 16. The details are as adalah sebagai berikut: follows:

72 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

13. INVESTASI JANGKA PANJANG (lanjutan) 13. LONG-TERM INVESTMENTS (continued)

a. Penyertaan saham pada entitas asosiasi a. Investment in shares of associates (lanjutan) (continued)

PT Gapura Angkasa (“Gapura”) (lanjutan) PT Gapura Angkasa (“Gapura”) (continued)

31 Desember/December 31, 2019 2018 Biaya perolehan 21.504.000 21.504.000 Carrying value Akumulasi bagian laba 23.057.297 24.744.424 Cummulative share of profit Penghasilan komprehensif lain 2.361.285 4.580.755 Other comprehensive income Selisih transaksi kombinasi bisnis Difference in the value of business entitas sepengendali 8.588.878 - combination under common control

Total 55.511.460 50.829.179 Total

Pada tanggal 18 November 2019, Gapura On November 18, 2019, Gapura issued new menerbitkan saham baru yang berjumlah 619,000 shares with a par value of 619.000 lembar saham dengan nilai nominal Rp61,900,000,000 as stated in the Notarial saham sebesar Rp61.900.000.000 Deed No. 105 of Jimmy Tanal, S.H., M.Kn., sebagaimana dinyatakan dalam Akta Notaris dated November 18, 2019. The new shares Jimmy Tanal, S.H.,M.Kn., No. 105 tanggal 18 issued was all acquired by PT Angkasa Pura II November 2019. Keseluruhan saham baru (Persero), entity under common control, which tersebut diambil selurunya oleh PT Angkasa made the Company’s ownership in Gapura Pura II (Persero), entitas sepengendali, diluted from 10.00% to 7.76%. sehingga membuat persentase kepemilikan Perusahaan di Gapura terdilusi dari 10,00% menjadi 7,76%.

PT Jasa Marga Bali Tol (“JMBT”) PT Jasa Marga Bali Tol (“JMBT”)

JMBT bergerak dalam bidang pengusahaan JMBT is engaged in the operation of Nusa Dua jalan tol Nusa Dua - Ngurah Rai - Benoa. - Ngurah Rai - Benoa toll road.

Investasi dalam saham pada JMBT merupakan Investments in shares in JMBT is an investment konsorsium investasi pembangunan jalan tol consortium highway construction Nusa Dua - Nusa Dua - Ngurah Rai - Benoa di daerah Bali Ngurah Rai - Benoa in Bali by several state- oleh beberapa Perusahaan BUMN. owned companies.

Perusahaan memiliki 59.635 saham atau The Company has 59,635 shares or sebesar Rp59.635.000 dan tambahan modal Rp59,635,000 and additional paid-in capital disetor lainnya sebesar Rp14.908.400 dengan amounting to Rp14,908,400 with ownership of jumlah kepemilikan sebesar 8%. 8%.

Investasi saham pada JMBT tersebut dicatat Investments in shares in JMBT the Company pada pembukuan Perusahaan dengan recorded by the equity method due to investee menggunakan metode ekuitas karena significant influence in accordance with PSAK pengaruh signifikan di investee sesuai PSAK 15 15, paragraphs 6 and 16. The details are as paragraph 6 dan 16. Rinciannya adalah sebagai follows: berikut :

31 Desember/December 31, 2019 2018 Biaya perolehan 59.635.000 59.635.000 Carrying value Akumulasi bagian rugi (30.683.192) (23.212.627) Cummulative share of loss Penghasilan komprehensif lain 8.617 49.655 Other comprehensive income Total 28.960.425 36.472.028 Total

73 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

13. INVESTASI JANGKA PANJANG (lanjutan) 13. LONG TERM-INVESTMENTS (continued)

Informasi tambahan pada tanggal 31 Desember Additional information as of December 31, 2019 and 2019 dan untuk tahun yang berakhir pada tanggal for the year then ended related to associate entities tersebut sehubungan dengan entitas asosiasi are as follows: adalah sebagai berikut:

Total Aset/ Total Liabilitas/ Total Pendapatan/ Laba (Rugi) Bersih/ Total Assets Total Liabilities Total Revenues Net Income (Loss)

PT Gapura Angkasa 1.361.170.659 652.704.836 1.841.656.160 (19.325.491) PT Gapura Angkasa PT Jasa Marga Bali Tol 1.890.157.490 1.510.288.801 145.765.993 (79.333.886) PT Jasa Marga Bali Tol

Rincian bagian laba (rugi) entitas asosiasi adalah: Details of the share in profit (loss) of the associate companies are:

31 Desember/December 31, 2019 2018 PT Gapura Angkasa (1.687.127) 6.747.571 PT Gapura Angkasa PT Jasa Marga Bali Tol (7.265.010) (4.195.565) PT Jasa Marga Bali Tol Total (8.952.137) 2.552.006 Total

14. PROPERTI INVESTASI 14. INVESTMENT PROPERTIES

Properti investasi terdiri dari: Investment properties are consisted of:

Tahun yang berakhir pada tanggal 31 Desember 2019/ Year ended December 31, 2019

Saldo Awal / Penambahan / Pengurangan / Reklasifikasi / Saldo akhir / Beginning Addition Deduction Reclasification Ending balance

Biaya perolehan Acquisitions cost Tanah 23.179.060 4.936.470 - - 28.115.530 Lands Bangunan/lapangan 143.044.788 - - - 143.044.788 Buildings/fields

Total 166.223.848 4.936.470 - - 171.160.318 Total

Akumulasi penyusutan dan Accumulated depreciation and penurunan nilai impairment value Bangunan/lapangan 38.351.115 3.921.028 - - 42.272.143 Buildings/fields

Total 38.351.115 3.921.028 - - 42.272.143 Total

Nilai buku 127.872.733 128.888.175 Book value

Tahun yang berakhir pada tanggal 31 Desember 2018/ Year ended December 31, 2018

Saldo Awal / Penambahan / Pengurangan / Reklasifikasi / Saldo akhir / Beginning Addition Deduction Reclasification Ending balance

Biaya perolehan Acquisitions cost Tanah 13.994.221 - - 9.184.839 23.179.060 Lands Bangunan/lapangan 299.589.896 181.292 (156.363.816) 143.044.788 Buildings/fields

Total 313.584.117 - 181.292 (147.178.977) 166.223.848 Total

Akumulasi penyusutan dan Accumulated depreciation and penurunan nilai impairment value Bangunan/lapangan 66.547.821 7.930.035 181.292 (35.945.449) 38.351.115 Buildings / fields

Total 66.547.821 7.930.035 181.292 (35.945.449) 38.351.115 Total

Nilai buku 247.036.296 127.872.733 Book value

74 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

14. PROPERTI INVESTASI (lanjutan) 14. INVESTMENT PROPERTIES (continued)

Pada tahun 2018, properti investasi atas hanggar In 2018, investment properties of hangar and cargo dan gedung terminal kargo sebesar Rp156.363.816 terminal buildings amounted to Rp156,363,816 are direklasifikasi ke akun aset tetap (Catatan 15). reclassified to fixed assets (Note 15).

Nilai wajar dari properti investasi pada tanggal The fair value of the investment properties as of 31 Desember 2019 dan 2018 adalah masing-masing December 31, 2019 and 2018 amounted to sebesar Rp1.269.939.431 dan Rp717.822.549, Rp1,269,939,431 and Rp717,822,549, which were yang ditentukan berdasarkan Nilai Jual Objek Pajak determined based on Sales Value of Tax Object (NJOP) atas properti investasi. (NJOP) of the investment properties.

Manajemen berkeyakinan bahwa NJOP telah Management believes that NJOP approximates its mendekati nilai wajarnya. fair value.

Properti investasi dicatat berdasarkan biaya Investments properties are stated at acqusition cost. perolehan. Properti investasi tanah tidak disusutkan. Investment property of land is not depreciable. Beban penyusutan atas properti investasi selama Depreciation expenses of investment properties tahun 2019 dan 2018 seluruhnya dibebankan during 2019 and 2018, were entirely charged to kepada “Beban operasional bandara”. “Airport operation expenses”.

Manajemen berkeyakinan bahwa tidak terdapat Management believes that there is no event that kejadian yang mengindikasikan adanya penurunan indicates a decrease in the value of investment nilai properti investasi pada tahun 2019 dan 2018. properties in the year 2019 and 2018.

15. ASET TETAP 15. FIXED ASSETS

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember 2019/ Year ended December 31, 2019

Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi Saldo Akhir/ Beginning Addition Deduction Reclasification Ending Balance

Biaya perolehan/Cost of acquisitions Pemilikan langsung/Direct acquisitions : Tanah/Lands 6.250.665.974 - (6.810.215 ) 1.254.174 6.245.109.933 Bangunan (lapangan)/Structure (fields) 6.825.257.730 - (8.356.521) 1.191.554.817 8.008.456.026 Gedung-gedung/Buildings 6.476.956.029 58.651.625 (53.440.068 ) 779.077.838 7.261.245.424 Alat perhubungan udara/Aviation equipment 28.418.419 - (11.780.379 ) - 16.638.040 Kendaraan/Vehicles 497.988.153 67.824.078 (2.877.309 ) 6.965.964 569.900.886 Instalasi/Instalations 1.265.710.342 15.830.594 (19.544.008 ) 166.109.850 1.428.106.778 Peralatan/Equipments 5.472.474.876 329.380.115 (35.720.963 ) 582.802.705 6.348.936.733 Aset dalam konstruksi/Assets under construction 6.054.579.392 8.713.004.484 (5.807.693 ) (2.742.793.931) 12.018.982.252

Total 32.872.050.915 9.184.690.896 (144.337.156) (15.028.583) 41.897.376.072

Akumulasi penyusutan dan penurunan nilai/Accumulated depreciation and impairment value Pemilikan langsung/Direct acquisitions : Bangunan (lapangan)/Structure (fields) 1.881.646.977 321.562.273 (413.453 ) - 2.202.795.797 Gedung-gedung/buildings 1.116.324.259 187.127.431 (9.166.251 ) - 1.294.285.439 Alat perhubungan udara/Aviation Equipment 27.977.374 97.880 (11.780.362 ) - 16.294.892 Kendaraan/Vehicles 304.254.401 57.768.886 (2.243.682 ) - 359.779.605 Instalasi/Instalations 677.756.149 107.721.358 (18.547.237 ) - 766.930.270 Peralatan/Equipments 2.725.307.088 435.480.304 (31.077.415 ) (330.828) 3.129.379.149

Total 6.733.266.248 1.109.758.132 (73.228.400 ) (330.828) 7.769.465.152

Nilai buku/Book value 26.138.784.667 34.127.910.920

75 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

15. ASET TETAP (lanjutan) 15. FIXED ASSETS (continued)

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember 2018/ Year ended December 31, 2018

Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi Saldo Akhir/ Beginning Addition Deduction Reclasification Ending Balance

Biaya perolehan/Cost of acquisitions Pemilikan langsung/Direct acquisitions : Tanah/Lands 795.978.770 11.754.949 - 5.442.932.255 6.250.665.974 Bangunan (lapangan)/Structure (fields) 5.324.562.457 885.211 369.798 1.500.179.860 6.825.257.730 Gedung-gedung/Buildings 5.456.264.612 79.223.797 3.318.159 944.785.780 6.476.956.030 Alat perhubungan udara/Aviation equipment 28.441.193 - 22.774 - 28.418.419 Kendaraan/Vehicles 482.998.121 47.214.124 22.819.467 (9.404.625) 497.988.153 Instalasi/Instalations 1.089.651.001 118.114.412 901.503 58.846.431 1.265.710.341 Peralatan/Equipments 4.760.468.424 234.808.266 19.076.500 496.274.686 5.472.474.876 Aset dalam konstruksi/Assets under construction 6.425.749.706 8.005.083.786 - (8.376.254.100) 6.054.579.392

Total 24.364.114.284 8.497.084.545 46.508.201 57.360.287 32.872.050.915

Akumulasi penyusutan dan penurunan nilai/Accumulated depreciation and impairment value Pemilikan langsung/Direct acquisitions : Bangunan (lapangan)/Structure (fields) 1.578.726.542 303.290.233 (369.798 ) - 1.881.646.977 Gedung-gedung/buildings 896.812.473 184.015.305 (448.968 ) 35.945.449 1.116.324.259 Alat perhubungan udara/Aviation Equipment 27.712.481 287.667 (22.774 ) - 27.977.374 Kendaraan/Vehicles 273.428.994 51.627.052 (20.396.365 ) (405.280) 304.254.401 Instalasi/Instalations 576.353.748 102.657.164 (792.290 ) (462.473) 677.756.149 Peralatan/Equipments 2.383.293.994 364.602.848 (22.589.754 ) - 2.725.307.088

Total 5.736.328.232 1.006.480.269 44.619.949 35.077.696 6.733.266.248

Nilai buku/Book value 18.627.786.052 26.138.784.667

Pada tahun 2019, aset tetap berupa peralatan dan In 2019, fixed asset in the form of hotel equipments perlengkapan hotel sebesar Rp9.413.398 amounting to Rp9,413,398 are reclassified as other direklasifikasi ke aset tidak lancar lainnya. Pada non-current assets. In 2018, fixed asset in the form tahun 2018, aset tetap berupa tanah di Manado of land in Manado amounting to Rp9,184,839 is direklasifikasi ke properti investasi sebesar reclasified as property investment (Note 14). Rp9.184.839 (Catatan 14).

Pada tahun 2019, aset tetap berupa gedung In 2019, fixed assets in the form of passenger terminal penumpang, gedung operasional, fasilitas terminal building, operational building, passenger terminal penumpang dan gedung operasi dan aset terminal facility and operational building and other lainnya diasuransikan pada PT Asuransi Jasa assets are insured to PT Asuransi Jasa Indonesia Indonesia (Persero) dengan nilai pertanggungan all (Persero) with an all risk coverage, earthquake, risk, gempa bumi, marchinery breakdown dan marchinery breakdown and electronic equipment electronic equipment masing-masing amounting to Rp8,734,622,048, Rp6,599,101,823, sebesar Rp8.734.622.048, Rp6.599.101.823, Rp392,621,912, and Rp1,256,923,975, Rp392.621.912, dan Rp 1.256.923.975. respectively.

76 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

15. ASET TETAP (lanjutan) 15. FIXED ASSETS (continued)

Manajemen berpendapat bahwa nilai The management believes that the insurance pertanggungan tersebut memadai untuk menutup coverage is adequate to cover possible losses on kerugian atas aset yang dipertanggungkan. the fixed assets insured.

Beban penyusutan atas aset tetap selama tahun Depreciation expenses of fixed assets during 2019 2019 dan 2018 seluruhnya dibebankan kepada and 2018, were entirely charged to “Airport “Beban operasional bandara”. operation expenses”.

Beberapa aset tetap milik entitas anak berupa Certain fixed assets owned a subsidiary such as tanah, gedung, peralatan dan kendaraan digunakan lands, buildings, equipments and vehicles are used sebagai jaminan atas pinjaman bank dari PT Bank as collateral for loan obtained from PT Bank Negara Negara Indonesia (Persero) Tbk, PT Bank Syariah Indonesia (Persero) Tbk, PT Bank Syariah Mandiri Mandiri dan PT Bank Muamalat Indonesia Tbk. and PT Bank Muamalat Indonesia Tbk. (Note 21). (Catatan 21).

Aset dalam konstruksi merupakan proyek yang Assets under construction represents projects that masih belum selesai pada tanggal laporan posisi have not been completed at the date of the keuangan konsolidasian dengan rincian sebagai consolidated statements of financial position with berikut: the details as follows:

Perkiraan % Nilai Tahun perkiraan penyelesaian/ tercatat/ penyelesaian/ Estimated % Carrying Estimated years 31 Desember 2019 of completion value of completion December 31, 2019

Landasan, apron 77% 533.383.142 2019-2020 Runways, apron Lapangan, jalan dan pagar 62% 24.361.297 2019-2020 Field, roads, fences Bangunan 98% 10.072.431.872 2019-2020 Buildings Peralatan mekanik 96% 4.209.687 2019 Mechanical equipments Tanah 74% 1.372.710.354 2019-2020 Land Sistem pengolahan data Computer assisted data berbantuan computer 88% 9.904.288 2019 processing system Aset tetap lain-lain 88% 1.981.612 2019 Other fixed assets

Aset dalam konstruksi 12.018.982.252 Assets under construction

Perkiraan % Nilai Tahun perkiraan penyelesaian/ tercatat/ penyelesaian/ Estimated % Carrying Estimated years 31 Desember 2018 of completion value of completion December 31, 2018

Landasan, apron 77% 1.203.893.746 2019-2020 Runways, apron Lapangan, jalan dan pagar 61% 22.511.648 2019-2020 Field, roads, fences Bangunan 63% 2.131.530.986 2019-2020 Buildings Peralatan mekanik 71% 25.517.181 2019 Mechanical equipments Tanah 51% 2.570.354.041 2019-2020 Land Sistem pengolahan data Computer assisted data berbantuan computer 81% 26.892.008 2019 processing system Aset tetap lain-lain 74% 73.879.782 2019 Other fixed assets

Aset dalam konstruksi 6.054.579.392 Assets under construction

Untuk tahun yang berakhir pada tanggal For the years then ended December 31, 2019 and 31 Desember 2019 dan 2018, Perusahaan 2018, the Company capitalized borrowing costs as mengkapitalisasi biaya bunga pinjaman sebagai part of the acquisition cost of assets under bagian dari biaya perolehan aset dalam konstruksi construction amounting to Rp286,653,622 and masing-masing sebesar Rp286.653.622 dan Rp320,056,625, respectively. The Company Rp320.056.625. Perusahaan mengkapitalisasi capitalized borrowing costs, in accordance with biaya pinjaman sesuai dengan ketentuan di PSAK PSAK No. 26, “Capitalization of Borrowing Costs”. No. 26, “Kapitalisasi Biaya Pinjaman”.

77 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

16. ASET TAKBERWUJUD 16. INTANGIBLE ASSETS

Akun ini terdiri dari: This account consists of the following:

31 Desember/December 31,

2019 2018 Biaya perolehan Acquisition cost Perangkat lunak Software Perusahaan 86.581.756 80.327.704 The Company Entitas anak 11.918.089 6.450.799 Subsidiaries Sub-total 98.499.845 86.778.503 Subtotal

Akumulasi amortisasi dan Accummulation of amortization and penurunan nilai impartment value Perangkat lunak Software Perusahaan 53.141.808 43.462.260 The Company Entitas anak 1.891.561 993.859 Subsidiaries

Sub-total 55.033.369 44.456.119 Subtotal Total aset takberwujud, neto 43.466.476 42.322.384 Total intangible assets, net

Aset takberwujud - perangkat lunak terutama Intangible assets - software mainly represents the merupakan biaya instalasi, implementasi dan jasa cost of installation, implementation and consultation konsultasi pendukung perangkat lunak ERP. support service of ERP software.

Beban amortisasi atas aset takberwujud selama Amortization expenses of intangible assets during tahun 2019 dan 2018 seluruhnya dibebankan 2019 and 2018, were entirely charged to “Airport kepada “Beban operasional bandara”. operation expenses”.

17. BEBAN AKRUAL 17. ACCRUED EXPENSES

Akun ini terdiri dari: This account consists of the following:

31 Desember/December 31, 2019 2018

Pegawai 432.869.194 475.027.902 Employees Pelayanan bandara 352.327.734 445.297.485 Passenger services Umum 233.257.539 274.799.531 General Bunga 80.289.872 39.180.139 Interest Persediaan 66.389.530 12.960.479 Inventories Pemeliharaan 46.576.249 45.358.322 Maintenance Utilitas 35.726.758 27.201.707 Utilities Sewa 28.713.370 44.831.264 Rental Pajak 20.480.106 20.094.551 Taxes Lain-lain 25.657.682 27.288.163 Others

Total 1.322.288.034 1.412.039.543 Total

Beban akrual - pegawai mencakup beban manfaat Accrued expenses - employees consist of pegawai diantaranya beban bonus, beban cuti, employee benefits expenses including bonus beban kelebihan jam kerja, beban uang makan expenses, leave expenses, overtime expenses, harian yang akan dibayarkan Perusahaan kepada daily meal allowances which will be paid by the pegawai. Company to employees.

78 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

17. BEBAN AKRUAL (lanjutan) 17. ACCRUED EXPENSES (continued)

Beban akrual - pelayanan bandara terutama Accrued expenses - airport services mainly merupakan biaya konsesi kepada Direktorat represents of concession charge to the Direktorat Jenderal Perhubungan Udara (DJPU). Pada tanggal Jenderal Perhubungan Udara (DJPU). On 15 Desember 2015, Perusahaan mengadakan December 15, 2015, the Company entered into Perjanjian dengan DJPU mengenai pemberian Agreement with DJPU regarding the concession konsesi untuk melakukan kegiatan pelayanan jasa provided to the Company to conduct airport services kebandarudaraan sebagaimana yang dituangkan as stated in agreement No. HK.201/2/8/DRJU.kum dalam perjanjian No. HK.201/2/8/DRJU.kum 2015 2015 and SP.333/HK.06.03/2015/DU. Based on that dan SP.333/HK.06.03/2015/DU. Berdasarkan agreement, the Company is charged with perjanjian tersebut, Perusahaan dikenakan biaya concession fees (Note 42a). konsesi (Catatan 42a).

Beban akrual umum terutama merupakan General accrued expenses consist of management management fee atas kerjasama pengelolaan fee on collaborative tenants management with tenant dengan PT GVK Services Indonesia (Catatan PT GVK Services Indonesia (Note 42j), x-ray 42j), beban penyediaan x-ray, jaringan providing expense, telecommunication network and telekomunikasi dan jasa tenaga kerja. outsourcing services.

18. UTANG USAHA 18. TRADE PAYABLES

Rincian utang usaha berdasarkan pemasok adalah The details of trade payables based on vendors are sebagai berikut: as follows:

31 Desember/December 31, 2019 2018

Pihak ketiga Third parties Rupiah 190.321.982 556.668.374 Rupiah Dolar AS 64.725.318 30.953.784 US Dollar

Sub-total 255.047.300 587.622.158 Subtotal Pihak berelasi Related parties Rupiah 59.820.083 101.718.709 Rupiah

Total 314.867.383 689.340.867 Total

Rincian utang usaha berdasarkan umur adalah The details of trade payables based on aging are as sebagai berikut: follows:

31 Desember/December 31, 2019 2018

0 - 1 tahun 280.586.625 656.701.808 0 - 1 years 1 - 2 tahun 2.614.732 2.422.398 1 - 2 years 2 - 3 tahun 1.449.365 28.113.356 2 - 3 years >3 tahun 30.216.661 2.103.305 >3 years

Total 314.867.383 689.340.867 Total

79 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

19. PENDAPATAN DITERIMA DI MUKA 19. UNEARNED REVENUES

Akun ini terdiri dari: This account consists of the following:

31 Desember/December 31,

2019 2018

Pendapatan domestik 128.075.183 146.917.375 Domestic revenues Pendapatan internasional 257.093 345.484 International revenues

Total 128.332.276 147.262.859 Total

Pendapatan diterima di muka terdiri dari penerimaan Unearned revenues consist of cash received from uang dari pelanggan sehubungan dengan sewa customers in related to land rental income, space rental, tanah, sewa ruang, tempat reklame dan lainnya, billboards and others, but the services have not yet akan tetapi jasa tersebut belum diberikan ke delivered to that customers. pelanggan.

20. UTANG LAIN LAIN 20. OTHER PAYABLES

31 Desember/December 31, 2019 2018

Perolehan aset tetap 2.889.176.416 3.353.959.490 Acquisition of fixed assets Jaminan pelanggan 243.728.335 370.562.781 Customer deposit Imbalan kerja tantiem 75.000.000 100.000.000 Tantiem Jaminan vendor 22.364.293 30.488.095 Vendor deposit Titipan debitur 20.032.940 31.186.620 Deposit from debtor Utang iuran 19.078.496 2.283.336 Contribution Titipan BMKG dan DJU 12.643.085 13.143.560 BMKG and DJU deposit Titipan pengelola 7.181.591 23.549.240 Management deposit Titipan/utang lain lain 3.606.980 308.383 Others

Total 3.292.812.136 3.925.481.505 Total

Utang perolehan aset tetap terutama merupakan Acquisition of fixed asset payable mainly represent utang kepada kontraktor untuk pembangunan aset payable to contractors who build the Company fixed tetap Perusahaan. assets.

Jaminan pelanggan merupakan uang jaminan yang Customer deposit represent cash deposit given by diberikan oleh pelanggan sehubungan dengan sewa customer that consists of deposits for space rental, ruangan, tanah, listrik, air dan telepon di awal land rental, electrical and water installation at the perjanjian. beginning of the contract.

Titipan pengelola merupakan utang kepada pihak Management deposit represent payables from third ketiga atas kerja sama pengelolaan lounge dan jasa parties for cooperation of lounge management and terkait kargo. cargo related services.

80 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK 21. BANK LOAN

a. Utang bank jangka pendek a. Short-term bank loans

Utang bank jangka pendek terdiri dari: Short-term bank loans consist of:

31 Desember/December 31, 2019 2018 Entitas Anak Subsidiaries PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 107.270.000 43.200.000 Jawa Barat dan Banten Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 26.431.070 26.431.070 (Persero) Tbk PT Bank Syariah Mandiri 24.309.600 36.000.000 PT Bank Syariah Mandiri

Total 158.010.670 105.631.070 Total

PT Bank Pembangunan Daerah Jawa Barat PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk dan Banten Tbk Pada tanggal 15 Agustus 2018, APP On August 15, 2018, APP obtained loan facility memperoleh fasilitas pinjaman dari from PT Bank Pembangunan Daerah Jawa PT Bank Pembangunan Daerah Jawa Barat Barat dan Banten Tbk with maximum loan dan Banten Tbk dengan fasilitas maksimum facility amounted to Rp43,200,000 and bear pinjaman sebesar Rp43.200.000 dengan suku interest 9% per anmum. This credit is a bunga 9% per tahun. Fasilitas ini bersifat revolving facility and secured by trade revolving dan dijamin dengan piutang usaha receivables APP to the Company with the same APP kepada Perusahaan sebesar pinjaman amount of loans received. The loan facility is yang diterima. Fasilitas pinjaman ini digunakan used as working capital for construction project. untuk modal kerja untuk pengerjaan proyek The loan is withdrawn periodically on August pekerjaan konstruksi. Penarikan pinjaman ini 31, 2018, October 4, 2018, and December 20, dilakukan secara berkala pada tanggal 2018 with each withdrawal amounting to 31 Agustus 2018, 4 Oktober 2018, dan Rp15,000,000, Rp15,000,000 and 20 Desember 2018 dengan penarikan masing- Rp13,200,000, respectively, and will mature in masing sebesar Rp15.000.000, Rp15.000.000 6 months after the loan is withdrawn. APP has dan Rp13.200.000. dan akan jatuh tempo repaid the outstanding loan on the due date. dalam 6 bulan setelah dilakukan penarikan pinjaman. APP telah melunasi pinjaman ini.

APP diwajibkan untuk menyampaikan APP is required to convey in writing once there pemberitahuan secara tertulis apabila is a dividend distribution to shareholders. membagikan dividen kepada pemegang saham.

81 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

a. Utang bank jangka pendek (lanjutan) a. Short-term bank loans (continued)

Pada tanggal 19 Agustus 2019, APP On August 19, 2019, APP obtained loan facility memperoleh fasilitas pinjaman dari from PT Bank Pembangunan Daerah Jawa PT Bank Pembangunan Daerah Jawa Barat Barat dan Banten Tbk with maximum facility dan Banten Tbk dengan fasilitas maksimum amounted to Rp130,000,000 and bear interest sebesar Rp130.000.000 dengan suku bunga 9.25% per annum. This credit is a revolving 9,25% per tahun. Fasilitas ini bersifat revolving facility and secured by trade receivables APP dan dijamin dengan piutang usaha APP kepada to the Company with the same amount of loans Perusahaan sebesar pinjaman yang diterima. received. The loan facility is used as working Fasilitas pinjaman ini digunakan untuk modal capital for construction project. APP has kerja pekerjaan proyek konstruksi. APP telah withdrawn the loan facility on August 23, 2019 melakukan penarikan fasilitas pinjaman ini amounting to Rp9,200,000 and Rp24,400,000 pada tanggal 23 Agustus 2019 sebesar which due on December 23, 2019 and February Rp9.200.000 dan Rp24.400.000 yang masing- 23, 2020, respectively. Afterwards, APP has masing jatuh tempo pada tanggal withdrawn the loan facility amounting to 23 Desember 2019 dan 23 Februari 2020. Rp82,870,000 which will due on August 19, Selanjutnya pada tanggal 29 Agustus 2019, 2020. On December 23, 2019, APP has repaid APP melakukan penarikan kembali fasilitas the outstanding loan amounting to pinjaman sebesar Rp82.870.000 yang akan Rp9,200,000. jatuh tempo pada tanggal 19 Agustus 2020. Pada tanggal 23 Desember 2019, APP telah melunasi pinjaman sebesar Rp9.200.000.

PT Bank Syariah Mandiri PT Bank Syariah Mandiri

Pada tanggal 15 Juli 2014, APS memperoleh On July 15, 2014, APS obtained financing fasilitas pembiayaan sebesar Rp42.000.000 facility amounted Rp42,000,000 with 12 months dengan jangka waktu 12 bulan. Fasilitas ini term. This facility is used as working capital and digunakan sebagai modal kerja dengan agunan secured by machinery/equipment owned by berupa mesin/peralatan yang dimiliki oleh APS. APS. This facility had been extended several Fasilitas tersebut telah beberapa kali times, last extension was based on an diperpanjang, terakhir berdasarkan perjanjian agreement dated October 2, 2018 regarding tanggal 2 Oktober 2018 tentang addendum addendum of Akad facility financing fasilitas akad pembiayaan Musyarakah, Musyarakah, where APS deducted the dimana APS menurunkan fasilitas pembiayaan financing facility to Rp36,000,000 and will menjadi Rp36.000.000 dan akan jatuh tempo mature on July 31, 2019. APS has repaid the pada tanggal 31 Juli 2019. APS telah melunasi outstanding loan on July 31, 2019. pinjaman ini pada tanggal 31 Juli 2019.

Pada tanggal 28 Juni 2019, APS memperoleh On June 28, 2019, APS obtained financing fasilitas pembiayaan modal kerja sebesar working capital facility amounted Rp11,357,000 Rp11.357.000 dengan jangka waktu 7 bulan with 7 months term with due date on dan jatuh tempo pada tanggal 29 Januari 2020 January 29, 2020 including 6 months grace termasuk masa tenggang (grace period) period. selama 6 bulan.

82 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

a. Utang bank jangka pendek (lanjutan) a. Short-term bank loans (continued)

Pada tanggal 31 Juli 2019, APS memperoleh On July 31, 2019, APS obtained financing fasilitas pembiayaan modal kerja sebesar working capital facility amounted Rp9,619,000 Rp9.619.000 dengan jangka waktu 7 bulan dan with 7 months term with due date on jatuh tempo pada tanggal 28 Februari 2020 February 28, 2020 including 6 months grace termasuk masa tenggang (grace period) period. selama 6 bulan.

Pada tanggal 18 September 2019, APS On September 18, 2019, APS obtained memperoleh fasilitas pembiayaan modal kerja financing working capital facility amounted sebesar Rp3.333.600 dengan jangka waktu 7 Rp3,333,600 with 7 months term with due date bulan dan jatuh tempo pada tanggal on April 20, 2020 including 6 months grace 20 April 2020 termasuk masa tenggang (grace period. period) selama 6 bulan.

Seluruh fasilitas pinjaman yang diperoleh pada All working capital facilities obtained in 2019 are tahun 2019 dijamin dengan piutang usaha secured by trade receivable amounting to senilai Rp50.000.000. Rp50,000,000.

PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Pada tanggal 11 Desember 2014, APS On December 11, 2014, APS obtained short- memperoleh pinjaman jangka pendek sebesar term bank loan amounted to Rp40,000,000 from Rp40.000.000 dari PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk (BNI) (Persero) Tbk (BNI) dengan jangka waktu 12 with 12 months term, bearing interest at 11.5%. bulan dengan tingkat bunga 11,5% per tahun. This facility had been extended several times, Fasilitas ini telah beberapa kali diperpanjang, last extension was based on letter from BNI terakhir berdasarkan surat dari BNI tanggal dated February 4, 2020, where the loan will 4 Februari 2020, dimana pinjaman tersebut mature on December 10, 2020, bearing interest akan jatuh tempo pada tanggal 10 Desember rate at 10.00%. 2020 dengan tingkat suku bunga 10,00% per tahun.

APS diwajibkan untuk menjaga rasio keuangan APS is required to maintain the debtor's berupa rasio lancar minimum sebesar 1 kali, financial ratios, minimum current ratio of 1 time, debt service coverage rasio minimum sebesar debt service coverage minimum 1 time, debt to 1 kali dan debt to equity ratio (DER) maksimal equity ratio (DER) maximum 2.50 times. sebesar 2,50 kali.

Pada tanggal 31 Desember 2019, APS telah As of December 31, 2019, APS has complied memenuhi seluruh pembatasan yang diatur with all covenants as required in the loan dalam perjanjian pinjaman. agreements.

83 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang b. Long-term bank loans Utang bank jangka panjang terdiri dari: Long-term bank loans consist of: 31 Desember/December 31,

2019 2018

Perusahaan The Company Pihak berelasi Related parties PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk ("Mandiri") 5.197.324.424 1.638.960.332 ("Mandiri") PT Sarana Multi Infrastruktur PT Sarana Multi Infrastruktur (Persero) ("SMI") 3.349.663.885 1.759.311.762 (Persero) ("SMI") PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk ("BTN") 3.000.000.000 509.647.877 (Persero) Tbk ("BTN") PT Bank BRI Syariah Tbk ("BRIS") 1.000.000.000 229.823.939 PT Bank BRI Syariah Tbk ("BRIS") PT Bank Syariah Mandiri Tbk ("BSM") 1.000.000.000 - PT Bank Syariah Mandiri Tbk ("BSM") PT Indonesia Infrastructure PT Indonesia Infrastructure Finance Tbk ("IIF") 499.875.513 499.875.513 Finance Tbk ("IIF") PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk ("BRI") 454.522.093 594.001.071 (Persero) Tbk ("BRI") PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk ("BNI") 104.609.234 244.088.212 (Persero) Tbk ("BNI")

Sub-total 14.605.995.149 5.475.708.706 Subtotal Pihak ketiga Third parties PT Bank Central Asia Tbk ("BCA") 1.723.427.373 799.800.821 PT Bank Central Asia Tbk ("BCA") PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Timur ("Bank Jatim") 281.270.683 - Jawa Timur ("Bank Jatim") PT Bank Pembangunan PT Bank Pembangunan Daerah Khusus Ibu Kota Daerah Khusus Ibu Kota Jakarta ("Bank DKI") 196.889.477 - Jakarta ("Bank DKI") PT Bank Papua ("Bank Papua") 140.635.341 - PT Bank Papua ("Bank Papua") PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah DIY ("Bank DIY") 56.254.137 - DIY ("Bank DIY") PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Bali ("Bank Bali") 28.127.068 - Bali ("Bank Bali")

Sub-total 2.426.604.079 799.800.821 Subtotal Total 17.032.599.228 6.275.509.527 Total

Entitas anak Subsidiaries Pihak berelasi Related parties PT Bank Syariah Mandiri ("BSM") 207.932.303 7.650.520 PT Bank Syariah Mandiri ("BSM") PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk ("BNI") 53.683.996 54.624.681 (Persero) Tbk ("BNI") Sub-total 261.616.299 62.275.201 Subtotal Pihak ketiga Third party PT Bank Muamalat PT Bank Muamalat Indonesia Tbk ("Muamalat") 14.420.464 - Indonesia Tbk ("Muamalat")

Sub-total 276.036.763 62.275.201 Subtotal Total 17.308.635.991 6.337.784.728 Total Biaya pinjaman yang belum diamortisasi (45.451.947) (9.789.715) Unamortized cost of loans Total 17.263.184.044 6.327.995.013 Total Dikurangi : bagian jangka pendek utang bank jangka panjang (538.975.837) (941.998.089) Less : Current portion long-term bank loans Bagian jangka panjang 16.724.208.207 5.385.996.924 Long-term portion

84 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Perusahaan The Company

Perjanjian kredit sindikasi 2016 Syndicated credit agreement 2016

Pada tanggal 18 Agustus 2016, Perusahaan On August 18, 2016, the Company signed menandatangani Perjanjian Kredit Sindikasi Syndicated Credit Agreement with a Bank and dengan Bank dan Lembaga Keuangan Non- a Non-Bank Financial Institution which Mandiri Bank dimana Mandiri sebagai agen sindikasi. as an syndicated agent. The details of long- Rincian utang jangka panjang atas perjanjian term bank loans of syndicated credit agreement kredit sindikasi pada tanggal 31 Desember as of December 31, 2019, are as follows: 2019 adalah sebagai berikut:

Jumlah sisa Jumlah fasilitas pinjaman/ pinjaman Remaining jangka panjang/ Penarikan/ amount of loan Amount of Plafond/Plafonds Drawdown facilities drawdown SMI 1.350.000.000 1.349.663.885 336.115 1.349.663.885 SMI Mandiri 1.000.000.000 999.751.026 248.974 999.751.026 Mandiri BCA 800.000.000 799.800.821 199.179 799.800.821 BCA IIF 500.000.000 499.875.513 124.487 499.875.513 IIF BRI 350.000.000 349.912.859 87.141 349.912.859 BRI

Total 4.000.000.000 3.999.004.104 995.896 3.999.004.104 Total

Pinjaman tersebut digunakan untuk Credit facilities is used for financing and/or pembiayaan dan atau pembiayaan kembali refinancing airport and/or investment proyek pengembangan bandara dan/atau development projects. investasi.

Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest ranging from berkisar antara 8,50% sampai dengan 9,25% 8.50% to 9.25% in 2019 and ranging from pada tahun 2019 dan 8,00% sampai dengan 8.00% to 9.00% in 2018 and represent 9,00% pada tahun 2018 dan merupakan unsecured loans. pinjaman tanpa jaminan.

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant in all of its long-term tercantum dalam seluruh perjanjian utang bank loan agreements. jangka panjangnya.

Perusahaan tidak dapat memenuhi persyaratan The Company can not meet the current ratio rasio lancar minimum 1 kali pada tanggal requirement minimum 1 time as of 31 Desember 2018. Namun demikian kondisi ini December 31, 2018. However, this condition tidak merupakan peristiwa cidera janji yang does not constitute an event of continuing berkelanjutan yang menyebabkan pinjaman breach of covenant which causes the loan to menjadi segera jatuh tempo. Disamping itu, become due immediately. In addition, on Pada tanggal 31 Januari 2019, Perusahaan January 31, 2019, the Company has received telah menerima surat persetujuan waiver approval latter of not fulfilled the current pengampunan atas tidak terpenuhinya rasio ratio of minimum 1 time from the syndicated lancar minimum 1 kali dari agen sindikasi. agent.

85 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Perusahaan (lanjutan) The Company (continued)

Perjanjian kredit sindikasi (lanjutan) Syndicated credit agreement (continued)

Perjanjian kredit sindikasi BCA dan Mandiri BCA and Mandiri syndicated credit 2019 agreement 2019 Pada tanggal 23 Desember 2019, Perusahaan On December 23, 2019, the Company signed menandatangani Perjanjian Kredit Sindikasi Syndicated Credit Agreement which BCA as an dimana BCA sebagai agen fasilitas. Rincian facility agent. The details of long-term bank utang jangka panjang atas perjanjian kredit loans of syndicated credit agreement as of sindikasi pada tanggal 31 Desember 2019 December 31, 2019, are as follows: adalah sebagai berikut: Jumlah sisa Jumlah fasilitas pinjaman/ pinjaman Remaining jangka panjang/ Penarikan/ amount of loan Amount of Plafond/Plafonds Drawdown facilities drawdown Mandiri 2.000.000.000 923.626.552 1.076.373.448 923.626.552 Mandiri BCA 2.000.000.000 923.626.552 1.076.373.448 923.626.552 BCA

Total 4.000.000.000 1.847.253.104 2.152.746.896 1.847.253.104 Total

Fasilitas pinjaman pokok akan dibayar dalam Loan facility is payable in 40 quarterly 40 kali angsuran triwulanan mulai tanggal installments starting on March 23, 2025, while 23 Maret 2025, sedangkan bunga dibayar interest will be paid on monthly basis. secara bulanan.

Pinjaman tersebut digunakan untuk Credit facilities is used for investment financing pembiayaan investasi dan belanja modal. and capital expenditure.

Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest LPS + margin sebesar LPS + marjin dan merupakan pinjaman and represent unsecured loan. tanpa jaminan.

Jangka waktu perjanjian kredit sindikasi adalah The Syndicated Loan Agreement is valid for 15 tahun terhitung sejak tanggal 15 years from December 23, 2019 until 23 Desember 2019 sampai dengan tanggal December 23, 2034 including grace period of 23 Desember 2034 termasuk masa tenggang 5 years. waktu (grace period) selama 5 tahun.

Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali untuk - Minimum Current Ratio of 1 time since 2024 periode 2024 dan setelahnya. and after.

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya. 86 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued)

Perjanjian kredit sindikasi (lanjutan) Syndicated credit agreement (continued) Perjanjian kredit sindikasi bank Regional development banks syndicated pembangunan daerah credit agreement

Pada tanggal 23 Desember 2019, Perusahaan On December 23, 2019, the Company signed menandatangani Perjanjian Kredit Sindikasi Regional Development Banks Syndicated Bank Pembangunan Daerah dimana Bank DKI Credit Agreement which Bank DKI as an sebagai agen sindikasi. Rincian utang jangka syndicated agent. The details of long-term bank panjang atas perjanjian kredit sindikasi pada loans of syndicated credit agreement as of tanggal 31 Desember 2019 adalah sebagai December 31, 2019, are as follows: berikut:

Jumlah sisa Jumlah fasilitas pinjaman/ pinjaman Remaining jangka panjang/ Penarikan/ amount of loan Amount of Plafond/Plafonds Drawdown facilities drawdown Bank Jatim 1.000.000.000 281.270.683 718.729.317 281.270.683 Bank Jatim Bank DKI 700.000.000 196.889.478 503.110.522 196.889.478 Bank DKI Bank Papua 500.000.000 140.635.341 359.364.659 140.635.341 Bank Papua Bank DIY 200.000.000 56.254.137 143.745.863 56.254.137 Bank DIY Bank Bali 100.000.000 28.127.068 71.872.932 28.127.068 Bank Bali

Total 2.500.000.000 703.176.707 1.796.823.293 703.176.707 Total

Fasilitas pinjaman pokok akan dibayar dalam Loan facility is payable in 40 quarterly 40 kali angsuran triwulanan mulai tanggal installments starting on March 23, 2025, while 23 Maret 2025, sedangkan bunga dibayar interest will be paid on monthly basis. secara bulanan.

Pinjaman tersebut digunakan untuk Credit facilities is used for routine investment pembiayaan investasi rutin, pengembangan financing, development of existing and new bandara existing maupun bandara baru yang airport managed by the Company in 2019 - dikelola Perusahaan tahun 2019 - 2022. 2022.

Pinjaman ini dikenakan suku bunga tahunan This loan bears interest at annual rate of LPS sebesar LPS + marjin dan merupakan pinjaman + margin and represent unsecured loans. tanpa jaminan.

Jangka waktu perjanjian kredit sindikasi adalah The Syndicated Loan Agreement is valid for 15 tahun terhitung sejak tanggal 15 years from December 23, 2019 until 23 Desember 2019 sampai dengan tanggal December 23, 2034 with grace period and 23 Desember 2034 dengan masa grace period drawdown period of 5 years and 3 years, dan masa penarikan kredit masing-masing respectively from the signing date of loan selama 5 tahun dan 3 tahun sejak agreeement. ditandatanganinya perjanjian kredit.

87 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Perusahaan (lanjutan) The Company (continued)

Perjanjian kredit sindikasi (lanjutan) Syndicated credit agreement (continued)

Perjanjian kredit sindikasi bank Regional development banks syndicated pembangunan daerah credit agreement

Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali. (DSCR) of 1 time. - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali. times.

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya.

Pinjaman bilateral Bilateral loan

Mandiri, BRI dan BNI Mandiri, BRI and BNI

Pada tanggal 26 Juli 2013, Perusahaan On July 26, 2013, the Company has obtained memperoleh fasilitas kredit dari Bank Mandiri credit facilities from Bank Mandiri amounting sebesar Rp4.400.000.000. to Rp4,400,000,000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

Mandiri 2.400.000.000 1.643.681.073 756.318.927 - Mandiri BRI 1.000.000.000 684.867.114 315.132.886 - BRI BNI 1.000.000.000 684.867.114 315.132.886 - BNI

Total 4.400.000.000 3.013.415.301 1.386.584.699 - Total

Pada tanggal 18 September 2013, Mandiri, On September 18, 2013, Mandiri, BNI, BRI and BNI, BRI dan Perusahaan sepakat untuk the Company agreed to transfer Mandiri mengalihkan sebagian porsi pembiayaan financing portion to BNI and BRI amounting to Mandiri kepada BNI dan BRI masing-masing Rp1,000,000,000, respectively. senilai Rp1.000.000.000.

Pinjaman tersebut digunakan untuk Credit facilities is used for financing and/or pembiayaan dan/atau pembiayaan kembali refinancing airport and/or investment proyek pengembangan bandara dan/atau development projects. investasi.

Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest ranging from berkisar antara 8,70% sampai dengan 9,45% 8.70% to 9.45% in 2019 and ranging from pada tahun 2019 dan 8,20% sampai dengan 8.20% to 9.20% in 2018 and represent 9,20% pada tahun 2018 dan merupakan unsecured loan. pinjaman tanpa jaminan.

88 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) Mandiri, BRI dan BNI (lanjutan) Mandiri, BRI and BNI (continued) Jangka waktu perjanjian kredit adalah 7 tahun The loan credit agreement is valid for 7 years terhitung sejak tanggal 26 Juli 2013 sampai from July 26, 2013 until July 25, 2020 with grace dengan tanggal 25 Juli 2020 dengan masa period and drawdown period of 2 years and grace period dan masa penarikan kredit 2 years 6 months, respectively. masing-masing selama 2 tahun dan 2 tahun 6 bulan. Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan certain financial ratios during the period of loan tertentu selama periode perjanjian pinjaman agreement as follows: sebagai berikut: - Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali - Minimum Current Ratio of 1 times Pada tanggal 31 Desember 2019 dan 2018 As of December 31, 2019 and 2018, principal pembayaran pokok utang bank jangka panjang payments of long-term bank loans amounted to masing-masing sebesar Rp644.220.417 dan Rp644,220,417 and Rp644,220,417, Rp644.220.417. respectively. Berdasarkan perjanjian, jika Perusahaan tidak Based on the credit agreement, if the Company dapat memenuhi persyaratan yang ditetapkan, cannot fulfill such covenants, lender may maka pemberi pinjaman dapat sewaktu-waktu request the Company to repay all outstanding meminta pembayaran penuh atas seluruh saldo loan balances at any times. As of pinjaman. Pada tanggal 31 Desember 2019, December 31, 2019, the Company has Perusahaan telah memenuhi seluruh kewajiban complied with all covenant stated in all of its yang tercantum dalam seluruh perjanjian utang long-term bank loan agreements. bank jangka panjangnya. Pada tanggal 31 Desember 2018, Perusahaan As of December 31, 2018, the Company were tidak dapat memenuhi persyaratan keuangan unable to fulfill the financial covenant ratio to untuk menjaga current ratio minimum maintain current ratio minimum 1 time. As of sebesar 1 kali. Pada tanggal December 31, 2018, the Company received 31 Desember 2018, Perusahaan menerima approval letter from BNI and BRI to waive the surat persetujuan untuk melepas persyaratan related convenant, and did not receive an tersebut dari BNI dan BRI dan tidak approval letter from Mandiri to waive such memperoleh surat persetujuan dari Mandiri covenant on that date. In relation with the untuk melepaskan persyaratan tersebut pada Company’s inability to fulfill such covenants, tanggal tersebut. Sehubungan dengan tidak Mandiri loan amounting to Rp273,946,846 are terpenuhinya persyaratan yang ditetapkan classified as current portion of long-term loans. tersebut, pinjaman Mandiri sebesar Rp273.946.846 diklasifikasikan sebagai bagian jangka pendek pinjaman jangka panjang.

Pada tanggal 15 Januari 2019, Mandiri On January 15, 2019, Mandiri agreed to waive menyetujui untuk melepaskan persyaratan the related covenant and subsequently in 2019, tersebut sehingga setelah periode laporan, the loan is classified as a long-term loan. pinjaman tersebut pada tahun 2019 diklasifikasikan kembali sebagai pinjaman jangka panjang. 89 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Perusahaan (lanjutan) The Company (continued)

Pinjaman bilateral (lanjutan) Bilateral loan (continued)

SMI SMI

Pada tanggal 18 Desember 2018, Perusahaan On December 18, 2018, the Company obtained memperoleh fasilitas pinjaman berjangka dari a term loan facility from SMI with maximum SMI dengan jumlah maksimum fasilitas credit facility limit of Rp2,000,000,000. pinjaman sebesar Rp2.000.000.000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

SMI 2.000.000.000 2.000.000.000 - 2.000.000.000 SMI

Total 2.000.000.000 2.000.000.000 - 2.000.000.000 Total

Hasil penerimaan dari pinjaman ini digunakan The proceeds of the loan from this facility were untuk membiayai pengembangan dan investasi used to finance development and routine rutin bandar udara yang dikelola oleh investment of airports which are managed by Perusahaan. the Company.

Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest ranging from berkisar antara 8,25% sampai dengan 9,00% 8.25% to 9.00% in 2019 and represent pada tahun 2019 dan merupakan pinjaman unsecured loan. tanpa jaminan.

Jangka waktu kredit adalah 10 tahun sejak The loan period is 10 years started on the date tanggal perjanjian kredit dengan opsi of agreement with option to extend for 5 years perpanjangan selama 5 tahun dengan masa with grace period and drawdown period of grace period dan masa penarikan kredit 5 years and 3 years, respectively from the masing-masing selama 5 tahun dan 3 tahun signing date of loan agreement. sejak ditandatanganinya perjanjian kredit.

Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan certain financial ratios during the period of loan tertentu selama periode perjanjian pinjaman agreement as follows: sebagai berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali. - Minimum Current Ratio of 1 times

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya.

90 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) SMI (lanjutan) SMI (continued) Perusahaan tidak dapat memenuhi persyaratan The Company were unable to meet the current rasio lancar minimum 1 kali pada tanggal 31 ratio requirement minimum 1 time as of Desember 2018. Namun demikian kondisi ini December 31, 2018. However, this condition tidak merupakan peristiwa cidera janji yang does not constitute to a breach of continuing berkelanjutan yang menyebabkan pinjaman covenant which causes the loan to become due menjadi segera jatuh tempo. Disamping itu, immediately. In addition, on January 24, 2019, pada tanggal 24 Januari 2019, Perusahaan the Company has received waiver approval telah menerima surat persetujuan pembebasan letter of not fulfilled the current ratio of minimum atas tidak terpenuhinya rasio lancar minimum 1 1 time from SMI. kali dari SMI. BTN BTN

Pada tanggal 18 Desember 2018, Perusahaan Based on a loan agreement dated memperoleh fasilitas pinjaman dari BTN jumlah December 18, 2018, the Company obtained a maksimum fasilitas pinjaman sebesar term loan facility from BTN with maximum credit Rp2.000.000.000. facility limit of Rp2,000,000,000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

BTN 2.000.000.000 2.000.000.000 - 2.000.000.000 BTN

Total 2.000.000.000 2.000.000.000 - 2.000.000.000 Total

Pada tanggal 18 Desember 2018, Perusahaan Based on a loan agreement dated memperoleh fasilitas pinjaman dari BTN jumlah December 18, 2018, the Company obtained a maksimum fasilitas pinjaman sebesar term loan facility from BTN with maximum credit Rp2.000.000.000. Hasil penerimaan dari facility limit of Rp2,000,000,000. The proceeds pinjaman ini digunakan untuk membiayai of the loan from this facility were used to finance aktivitas usaha, pengembangan bandara dan the Company’s business operation, airport investasi rutin Perusahaan. Pinjaman ini development and routine investment. This loan dikenakan suku bunga tahunan berkisar antara bears annual interest ranging from 8.25% to 8,25% sampai dengan 9,00% pada tahun 2019 9.00% in 2019 and represent unsecured loan. dan merupakan pinjaman tanpa jaminan.

Jangka waktu perjanjian kredit adalah The loan credit agreement is valid for 15 years 15 tahun terhitung sejak 18 Desember 2018 from December 18, 2018 until December 17, sampai 17 Desember 2033 dengan masa grace 2033 with grace period and drawdown period of period dan masa penarikan kredit masing- 5 years and 3 years, respectively from the masing selama 5 tahun dan 3 tahun sejak signing date of loan agreeement. ditandatanganinya perjanjian kredit. Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

91 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) BTN (lanjutan) BTN (continued) - Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali - Minimum Current Ratio of 1 time

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya. Berdasarkan perjanjian, jika Perusahaan tidak Based on credit agreement, if the Company dapat memenuhi persyaratan yang ditetapkan, cannot fulfill such covenants, lender may maka pemberi pinjaman dapat sewaktu-waktu request the Company to repay all outstanding meminta pembayaran penuh atas seluruh saldo loan balances at any times. As of December 31, pinjaman. Pada tanggal 31 Desember 2018, 2018, the Company was unable to fulfill the Perusahaan tidak dapat memenuhi persyaratan financial covenants ratio to maintain current keuangan untuk menjaga current ratio minimum ratio minimum 1 time. As of December 31, 2018, sebesar 1 kali. Pada tanggal the Company receive approval from BTN to 31 Desember 2018, Perusahaan telah waive such convenant. mendapat persetujuan dari BTN untuk melepas persyaratan tersebut.

BRIS BRIS Pada tanggal 18 Desember 2018, Perusahaan On December 18, 2018, the Company obtained memperoleh fasilitas plafon pembiayaan dari a term plafond loan facility from BRIS with BRIS dengan jumlah maksimum fasilitas maximum credit facility limit of Rp1,000,000,000. pinjaman sebesar Rp1.000.000.000. Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

BRIS 1.000.000.000 1.000.000.000 - 1.000.000.000 BRIS

Total 1.000.000.000 1.000.000.000 - 1.000.000.000 Total

Hasil penerimaan dari pinjaman ini digunakan The proceeds of the loan from this facility were untuk membiayai investasi rutin, used to finance routine investment, development pengembangan dan pembangunan bandar and construction of new airports and other airport udara baru serta bandara lainnya sesuai according to Work Plan and Company Budget Rencana Kerja dan Anggaran Perusahaan (RKAP) which is managed by the Company. (RKAP) yang dikelola oleh Perusahaan. Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest ranging from berkisar antara 8,25% sampai dengan 9,00% 8.25% to 9.00% in 2019 and represent pada tahun 2019 dan merupakan pinjaman unsecured loan. tanpa jaminan.

92 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) BRIS (lanjutan) BRIS (continued) Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 times maksimum sebesar 3 kali - Minimum Current Ratio of 1 time - Rasio Lancar minimum sebesar 1 kali Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya. Berdasarkan perjanjian, jika Perusahaan tidak Based on the credit agreement, if the Company dapat memenuhi persyaratan yang ditetapkan, cannot fulfill such covenants, lender may maka pemberi pinjaman dapat sewaktu-waktu request the Company to repay all outstanding meminta pembayaran penuh atas seluruh saldo loan balances at any times. As of December 31, pinjaman. Pada tanggal 31 Desember 2018, 2018, the Company was unable to fulfill the Perusahaan tidak dapat memenuhi persyaratan financial covenants ratio to maintain current keuangan untuk menjaga current ratio minimum ratio minimum 1 time. As of December 31, 2018, sebesar 1 kali. Pada tanggal 31 Desember the Company receive approval from BRIS to 2018, Perusahaan telah mendapat persetujuan waive such convenant. dari BRIS untuk melepas persyaratan tersebut.

BTN 2019 BTN 2019

Pada tanggal 26 Juli 2019, Perusahaan On July 26, 2019, the Company obtained a term memperoleh fasilitas pinjaman dari BTN dengan loan facility from BTN with maximum credit maksimum fasilitas sebesar Rp1.000.000.000. facility limit of Rp1,000,000,000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

BTN 1.000.000.000 1.000.000.000 - 1.000.000.000 BTN

Total 1.000.000.000 1.000.000.000 - 1.000.000.000 Total

Fasilitas pinjaman pokok akan dibayar dalam Loan facility is payable in 40 quarterly 40 kali angsuran triwulanan mulai tanggal installments starting on September 7, 2024, 7 September 2024, sedangkan bunga dibayar while interest will be paid on monthly basis. secara bulanan.

93 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) BTN 2019 (lanjutan) BTN 2019 (continued)

Hasil penerimaan dari pinjaman ini digunakan The proceeds of the loan from this facility were untuk membiayai aktivitas usaha, used to finance the Company’s business pengembangan bandara, refinancing dan operation, airport development, refinancing and investasi rutin Perusahaan. Pinjaman ini routine investment. This loan bears annual dikenakan suku bunga tahunan berkisar antara interest ranging from 8.25% to 8.75% in 2019 8,25% sampai dengan 8,75% pada tahun 2019 and represent unsecured loan. dan merupakan pinjaman tanpa jaminan. Jangka waktu perjanjian kredit adalah The loan credit agreement is valid for 15 years 15 tahun terhitung sejak 26 Juli 2019 sampai 26 from July 26, 2019 until July 26, 2034 with grace Juli 2034 dengan masa grace period dan masa period and drawdown period of 5 years and 3 penarikan kredit masing-masing selama 5 years, respectively from the signing date of loan tahun dan 3 tahun sejak ditandatanganinya agreeement. perjanjian kredit.

Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 times maksimum sebesar 3 kali - Rasio Lancar minimum sebesar 1 kali - Minimum Current Ratio of 1 time (total current (jumlah kewajiban jangka pendek tidak liabilities are not include accrual liabilities to termasuk akrual kewajiban kepada contractors which not invoiced yet). kontraktor yang belum diterbitkan tagihannya)

Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya.

Mandiri Mandiri

Pada tanggal 26 September 2019, Perusahaan Based on a loan agreement dated September memperoleh fasilitas pinjaman dari Mandiri 26, 2019, the Company obtained a term loan dengan jumlah maksimum fasilitas pinjaman facility from Mandiri with maximum credit facility sebesar Rp3.000.000.000. limit of Rp3,000,000,000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

Mandiri 3.000.000.000 3.000.000.000 - 3.000.000.000 Mandiri

Total 3.000.000.000 3.000.000.000 - 3.000.000.000 Total

94 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) Pinjaman bilateral (lanjutan) Bilateral loan (continued) Mandiri (lanjutan) Mandiri (continued)

Fasilitas pinjaman pokok akan dibayar dalam Loan facility is payable in 40 quarterly 40 kali angsuran triwulanan mulai tanggal installments starting on December 23, 2024, 23 Desember 2024, sedangkan bunga dibayar while interest will be paid on monthly basis. secara bulanan.

Hasil penerimaan dari pinjaman ini digunakan The proceeds of the loan from this facility were untuk membiayai belanja modal atas dasar used to capital expenditure to 2019 and 2020 Rencana Kerja dan Anggaran Perusahaan Work Plan and Company Budget (RKAP). This (RKAP) tahun 2019 dan 2020. Pinjaman ini loan bears annual interest ranging from 8.25% to dikenakan suku bunga tahunan berkisar antara 8.50% in 2019 and represent unsecured loan. 8,25% sampai dengan 8,50% pada tahun 2019 dan merupakan pinjaman tanpa jaminan.

Jangka waktu perjanjian kredit adalah The loan credit agreement is valid for 15 years 15 tahun terhitung sejak 26 September 2019 from September 26, 2019 until sampai 25 September 2034 dengan masa September 25, 2034 with grace period and grace period dan masa penarikan kredit drawdown period of 5 years and 3 years, masing-masing selama 5 tahun dan 3 tahun respectively from the signing date of loan sejak ditandatanganinya perjanjian kredit. agreeement.

Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of loan selama periode perjanjian pinjaman sebagai agreement as follows: berikut:

- Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali untuk - Minimum Current Ratio of 1 time for period periode 2024 dan setelahnya. 2024 and after. Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in all of its tercantum dalam seluruh perjanjian utang bank long-term bank loan agreements. jangka panjangnya. BSM BSM

Pada tanggal 2 September 2019, Perusahaan On September 2, 2019, the Company obtained memperoleh fasilitas pembiayaan Musyarakah a Musyarakah financing facility from BSM with dari BSM dengan jumlah maksimum fasilitas maximum limit facility of Rp1,000,000,000. sebesar Rp1.000.000.000.

Jumlah sisa fasilitas pinjaman/ Jumlah pinjaman Remaining jangka panjang/ Plafond/ Penarikan/ amount of loan Outstanding Plafonds Drawdown facilities long-term loan

BSM 1.000.000.000 1.000.000.000 - 1.000.000.000 BSM

Total 1.000.000.000 1.000.000.000 - 1.000.000.000 Total

95 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Perusahaan (lanjutan) The Company (continued) BSM (lanjutan) BSM (continued) Fasilitas pembiayaan pokok akan dibayar Financing facility is payable in 40 quarterly dalam 40 kali angsuran triwulanan mulai dari installments starting on March 23, 2025, while tanggal 23 Maret 2025, sedangkan bagi hasil profit sharings will be paid on monthly basis. dibayar secara bulanan. Hasil penerimaan dari fasilitas ini digunakan The proceeds of the this facility were used for untuk membiayai belanja modal atas dasar capital expenditure in 2019 and 2020 Work Rencana Kerja dan Anggaran Perusahaan Plan and Company Budget (RKAP). This (RKAP) tahun 2019 dan 2020. Fasilitas ini facility represents unsecured facility. merupakan fasilitas tanpa jaminan. Pinjaman ini dikenakan suku bunga tahunan This loan bears annual interest ranging from berkisar antara 8,25% sampai dengan 8,50% 8.25% to 8.50% in 2019 and represent pada tahun 2019 dan merupakan pinjaman unsecured loan. tanpa jaminan. Jangka waktu perjanjian kredit adalah 15 tahun The loan credit agreement is valid for 15 years terhitung sejak 26 September 2019 sampai from September 26, 2019 until September 25, 25 September 2034 dengan masa grace period 2034 with grace period and drawdown period dan masa penarikan kredit masing-masing of 5 years and 3 years, respectively from the selama 5 tahun dan 3 tahun sejak signing date of loan agreeement. ditandatanganinya perjanjian kredit. Perusahaan juga diwajibkan untuk The Company is also required to maintain mempertahankan rasio-rasio keuangan tertentu certain financial ratios during the period of selama periode perjanjian fasilitas pembiayaan financing facilty agreement as follows: sebagai berikut: - Debt Service Coverage Ratio (DSCR) - Minimum Debt Service Coverage Ratio minimum sebesar 1 kali (DSCR) of 1 time - Rasio Hutang Terhadap Ekuitas (DER) - Maximum Debt Equity Ratio (DER) of 3 maksimum sebesar 3 kali times - Rasio Lancar minimum sebesar 1 kali untuk - Minimum Current Ratio of 1 time for period periode 2024 dan setelahnya. 2024 and after. Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi seluruh kewajiban yang complied with all covenant stated in the tercantum dalam seluruh perjanjian fasilitas financing facility agreement. pembiayaan. Entitas Anak Subsidiaries BNI BNI Pada tanggal 11 Desember 2014, APS On December 11, 2014, APS obtained Credit memperoleh fasilitas Kredit Term Loan dengan Term Loan’s facility with maximum of pinjaman maksimum sebesar Rp100.000.000 Rp100,000,000 which used to financing rental yang digunakan sebagai pembiayaan kontrak equipments projects. The ceiling of the loan penyewaan peralatan. Plafon fasilitas pinjaman facility has increased to Rp185,000,000 on ini mengalami kenaikan menjadi October 23, 2018 in accordance with the Rp185.000.000 pada tanggal 23 Oktober 2018 approval letter from BNI No.BIN/2.1/263/R. sesuai dengan surat persetujuan dari BNI No. Withdrawal of this loan facility has been made BIN/2.1/263/R. Penarikan fasilitas pinjaman ini several times by APS, which are as follows: telah dilakukan beberapa kali oleh APS, antara lain sebagai berikut:

96 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Entitas Anak (lanjutan) Subsidiaries (continued)

BNI (lanjutan) BNI (continued) - Pada tanggal 4 Mei 2016, APS menarik - On May 4, 2016, APS withdraws loan from pinjaman dari BNI sebesar Rp3.915.000. BNI with amount of Rp3,915,000. This loan Pinjaman bersifat aflopend dan dijamin is an aflopend and secured by some vehicles dengan beberapa aset kendaraan yang assets owned by APS. The term of this loan dimiliki oleh APS. Jangka waktu pinjaman is 33 months and will be due on ini adalah 33 bulan. Pinjaman jatuh tempo January 16, 2019 and bear interest at rates pada tanggal 16 Januari 2019 dengan suku ranging 9.75%-10.50% per annum. As of bunga berkisar 9,75%-10,50% per tahun. December 31, 2018, the outstanding Pada tanggal 31 Desember 2018, saldo balances of this loan facility amounted to pinjaman fasilitas ini adalah sebesar Rp186,429 and has fully repaid on January Rp186.429 dan telah dilunasi seluruhnya 16, 2019. pada tanggal 16 Januari 2019. - Pada tanggal 26 Oktober 2016, APS - On October 26, 2016, APS obtained loan memperoleh pinjaman dari BNI sebesar from BNI with amount of Rp40,785,000. This Rp40.785.000. Pinjaman bersifat aflopend loan is an aflopend and secured by some dan dijamin dengan beberapa aset equipments assets owned by APS. The term peralatan yang dimiliki oleh APS. Jangka of this loan is 58 months. This loan will be waktu pinjaman ini adalah 58 bulan. due on August 16, 2021 and bear interest at Pinjaman jatuh tempo pada tanggal 16 rates ranging 9.75%-10.50% per annum. As Agustus 2021 dengan suku bunga berkisar of December 31, 2019 and 2018, the 9,75%-10,50% per tahun. Pada tanggal outstanding balances of this loan facility 31 Desember 2019 dan 2018, saldo amounted to Rp17,732,826 and pinjaman fasilitas ini masing-masing Rp28,372,522, respectively. sebesar Rp17.732.826 dan Rp28.372.522. - Pada tanggal 29 Desember 2016, APS - On December 29, 2016, APS obtained loan memperoleh pinjaman dari BNI sebesar from BNI with amount of Rp5,026,000. This Rp5.026.000. Pinjaman bersifat aflopend loan is an aflopend and secured by some dan dijamin dengan beberapa aset vehicles assets owned by APS. The term of kendaraan yang dimiliki oleh APS. Jangka this loan is 35 months. This loan will be due waktu pinjaman ini adalah 35 bulan. on November 16, 2019 and bear interest at Pinjaman jatuh tempo pada tanggal rates ranging 9.75%-10.50% per annum. As 16 November 2019 dengan suku bunga of December 31, 2018, the outstanding berkisar 9,75%-10,50% per tahun. Pada balances of this loan facility amounted to tanggal 31 Desember 2018, saldo pinjaman Rp1,626,059 and has fully repaid on fasilitas ini adalah sebesar Rp1.626.059 November 16, 2019. dan telah dilunasi seluruhnya pada tanggal 16 November 2019.

- Pada tanggal 7 Februari 2017, APS - On February 7, 2017, APS obtained loan memperoleh pinjaman dari BNI sebesar from BNI with amount of Rp6,284,000. This Rp6.284.000. Pinjaman bersifat aflopend loan is an aflopend and secured by some dan dijamin dengan beberapa aset equipments assets owned by APS. The term peralatan yang dimiliki oleh APS. Jangka of this loan is 32 months. This loan will be waktu pinjaman ini adalah 32 bulan. due on September 16, 2019 and bear Pinjaman jatuh tempo pada tanggal interest at rates ranging 9.75%-10.50% per 16 September 2019 dengan suku bunga annum. As of December 31, 2018, the berkisar 9,75%-10,50% per tahun. Pada outstanding balances of this loan facility tanggal 31 Desember 2018, saldo pinjaman amounted to Rp1.824.387 and has fully fasilitas ini adalah sebesar Rp1.824.387 repaid on September 16, 2019. dan telah dilunasi seluruhnya pada 16 September 2019.

97 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued)

Entitas Anak (lanjutan) Subsidiaries (continued)

BNI (lanjutan) BNI (continued)

- Pada tanggal 4 Juni 2018, APS - On June 4, 2018, APS obtained loan from memperoleh pinjaman dari BNI sebesar BNI with amount of Rp5,134,000 with bear Rp5.134.000. dengan suku bunga 9,75% interest 9.75% per annum. This loan is an per tahun. Pinjaman bersifat aflopend dan aflopend and secured by some vehicles dijamin dengan beberapa aset kendaraan assets owned by APS. The term of this loan yang dimiliki oleh APS. Jangka waktu is 30 months. This loan will be due on pinjaman ini adalah 30 bulan. Pinjaman November 16, 2022. As of December 31, jatuh akan tempo pada tanggal 2019 and 2018, the outstanding balances of 16 November 2022. Pada tanggal this loan facility amounted to Rp1,881,800 31 Desember 2019 dan 2018, saldo and Rp3,936,200, respectively. pinjaman fasilitas ini adalah sebesar Rp1.881.800 dan Rp3.936.200.

- Pada tanggal 4 Juni 2018, APS - On June 4, 2018, APS obtained loan from memperoleh pinjaman dari BNI sebesar BNI with amount of Rp9,600,000 with bear Rp9.600.000 dengan suku bunga 9,75% interest 9.75% per annum. This loan is an per tahun. Pinjaman bersifat aflopend dan aflopend and secured by some equipments dijamin dengan beberapa aset peralatan assets owned by APS. The term of this loan yang dimiliki oleh APS. Jangka waktu is 54 months. This loan will be due on pinjaman ini adalah 54 bulan. Pinjaman November 16, 2022. As of jatuh akan tempo pada tanggal December 31, 2019 and 2018, the 16 November 2022. Pada tanggal outstanding balances of this loan facility 31 Desember 2019 dan 2018, saldo amounted to Rp6,222,222 and Rp8,355,555, pinjaman fasilitas ini adalah masing-masing respectively. sebesar Rp6.222.222 dan Rp8.355.555.

- Pada tanggal 4 Juni 2018, APS - On June 4, 2018, APS obtained loan from memperoleh pinjaman dari BNI sebesar BNI with amount of Rp13,000,000 with bear Rp13.000.000 dengan suku bunga 9,75% interest 9.75% per annum. This loan is an per tahun. Pinjaman bersifat aflopend dan aflopend and secured by some vehicles dijamin dengan beberapa aset kendaraan assets owned by APS. The term of this loan yang dimiliki oleh APS. Jangka waktu is 34 months. This loan will be due on pinjaman ini adalah 34 bulan. Pinjaman March 16, 2021. As of December 31, 2019 jatuh akan tempo pada tanggal and 2018, the outstanding balances of this 16 Maret 2021. Pada tanggal 31 Desember loan facility amounted to Rp5,735,294 and 2019 dan 2018, saldo pinjaman fasilitas ini Rp10,323,529, respectively . adalah masing-masing sebesar Rp5.735.294 dan Rp10.323.529.

- Pada 6 Desember 2019, APS memperoleh - On December 6, 2019, APS obtained loan pinjaman dari BNI sebesar Rp29.431.000 from BNI with amount of Rp29,431,000 with dengan suku bunga 10% per tahun. bear interest 10% per annum. This loan is an Pinjaman bersifat aflopend dan dijamin aflopend and secured by some equipments dengan beberapa peralatan yang dimiliki assets owned by APS. The term of this loan oleh APS. Jangka waktu pinjaman ini is 57 months and will be due on adalah 57 bulan dan akan jatuh tempo pada August 31, 2023. As of December 31, 2019, tanggal 31 Agustus 2023. Pada tanggal 31 the outstanding balances of this loan facility Desember 2019, saldo pinjaman fasilitas ini amounted to Rp22,111,923. adalah sebesar Rp22.111.923.

98 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Entitas Anak (lanjutan) Subsidiaries (continued) BNI (lanjutan) BNI (continued) APS diwajibkan oleh BNI untuk menjaga rasio APS is required by BNI to maintain the financial keuangan yaitu rasio lancar minimum sebesar 1 ratios, minimum current ratio of 1 time, debt kali, debt service coverage minimum sebesar 1 service coverage at least 1 time, debt to equity kali, debt to equity ratio (DER) maksimal 2,50 ratio (DER) maximum 2.50 times. kali. Pada tanggal 31 Desember 2019, APS telah As of December 31, 2019, APS has complied memenuhi semua persyaratan pinjaman di with all of the above loan covenants. atas. BSM BSM APS memperoleh beberapa fasilitas APS obtained several Murabahah financing pembiayaan Murabahah dari BSM sebagai facilities from BSM as follows: berikut: - Pada 7 November 2014, APS memperoleh - On November 7, 2014, APS obtained fasilitas pembiayaan dengan skema financing facility of the Murabahah scheme Murabahah sebesar Rp3.575.200 dengan amounted to Rp3,575,200 with margin at marjin sebesar 13% efektif single price per 13% effective single price per annum and a tahun dengan jangka waktu 10 tahun. period of 10 years. Loan’s collateral is 1 unit Agunan atas pinjaman ini adalah 1 unit ruko shop house in Denpasar. Financing facility di Denpasar. Fasilitas pembiayaan akan will be due on November 20, 2024. As of jatuh akan tempo pada tanggal December 31, 2019 and 2018, the 20 November 2024. Pada tanggal outstanding balances of these loan facilities 31 Desember 2019 dan 2018, saldo amounted to Rp2,318,160 and Rp2,634,652, pinjaman fasilitas ini masing-masing respectively. sebesar Rp2.318.160 dan Rp2.634.652. - Pada tanggal 28 Oktober 2015, APS - On October 28, 2015, APS obtained memperoleh pembiayaan Murabahah financing facility of the Murabahah scheme dengan jumlah keseluruhan sebesar totaling of Rp3,650,000 with margin 12% Rp3.650.000 dengan marjin 12% efektif effective per annum and 10 year term. per tahun dengan jangka waktu 10 tahun. Loan’s collateral of this loan are 2 unit shop Agunan atas pinjaman ini adalah 2 unit ruko houses in Denpasar and Makassar. yang terdapat di Denpasar dan Makassar. Financing facility will be due on November Fasilitas pembiayaan akan jatuh akan 16 and 20, 2025. As of December 31, 2019 tempo pada tanggal 16 dan and 2018, the outstanding balances of these 20 November 2025. Pada tanggal loan facilities amounted to Rp2,653,006 and 31 Desember 2019 dan 2018, saldo Rp2,943,802, respectively. pinjaman fasilitas ini masing-masing sebesar Rp2.653.006 dan Rp2.943.802.

- Pada tanggal 22 Agustus 2016 dari BSM, - On August 22, 2016, APS obtained APS memperoleh pembiayaan Murabahah Murabahah financing amounting to sebesar Rp1.800.000 dengan marjin Rp1,800,000 with bear margin of 11.50% per sebesar 11,50% per tahun dengan jangka annum and a period of 10 years. Loan’s waktu 10 tahun. Agunan atas pinjaman ini collateral of this loan are 1 unit shop house adalah 1 unit ruko milik APS yang terdapat owned by APS in Balikpapan. Financing di Balikpapan. Fasilitas pembiayaan akan facility will be due on August 20, 2026. As of jatuh akan tempo pada tanggal 20 Agustus December 31, 2019 and 2018, the 2026. Pada tanggal 31 Desember 2019 dan outstanding balances of these loan facilities 2018, saldo pinjaman fasilitas ini masing- amounted to Rp1,409,079 and Rp1,542,636, masing sebesar Rp1.409.479 dan respectively. Rp1.542.636. 99 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued)

b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Entitas Anak (lanjutan) Subsidiaries (continued)

BSM (lanjutan) BSM (continued)

- Pada tanggal 7 Agustus 2017, APS - On August 7, 2017, APS obtained memperoleh fasilitas pembiayaan Murabahah financing facility amounting to Murabahah sebesar Rp573.600 dengan Rp573,600 with margin at 11.50% per marjin sebesar 11,50% per tahun dengan annum and a period of 10 years. Loan’s jangka waktu 10 tahun. Agunan atas collateral of this loan are land owned by APS pinjaman ini berupa sebidang tanah yang in Banjarbaru, Kalimantan Selatan. As of dimiliki APS di Banjarbaru, Kalimantan December 31, 2019 and 2018, the Selatan. Pada tanggal 31 Desember 2019 outstanding balances of these loan facilities dan 2018, saldo pinjaman fasilitas ini amounted to Rp491,587 and Rp529,430, masing-masing sebesar Rp491.587 dan respectively. Rp529.430.

APS memperoleh beberapa fasilitas APS obtained several Musyarakah Pembiayaan Investasi dengan skim Mutanaqishah financing investment facilities Musyarakah Mutanaqishah dari BSM sebagai from BSM as follows: berikut: - Pada tanggal 31 Mei 2019, APS - On May 31, 2019, APS obtained facility memperoleh fasilitas sebesar amounting to Rp112,512,000 with profit Rp112.512.000 dengan nisbah bagi hasil sharing ratio at 11.14% per annum. The term 11,14% per tahun. Jangka waktu of this financing is 60 months with due date pembiayaan ini adalah 60 bulan dan jatuh on May 20, 2024 including 9 months grace tempo pada tanggal 20 Mei 2024 termasuk period. masa tenggang waktu (grace period) selama 9 bulan. - Pada tanggal 31 Mei 2019, APS - On May 31, 2019, APS obtained facility memperoleh fasilitas sebesar amounting to Rp15,949,000 with profit Rp15.949.000 dengan nisbah bagi hasil sharing ratio at 14.20%. The term of this 14,20% per tahun. Jangka waktu financing is 60 months with due date on May pembiayaan ini adalah 60 bulan dan jatuh 20, 2024 including 9 months grace period. tempo pada tanggal 20 Mei 2024 termasuk masa tenggang waktu (grace period) selama 9 bulan. - Pada tanggal 28 Juni 2019, APS - On June 28, 2019, APS obtained facility memperoleh fasilitas sebesar Rp7.762.000 amounting to Rp7,762,000 and Rp807,000 dan Rp807.000 dengan nisbah bagi hasil with profit sharing ratio at 12.06% per 12,06% per tahun. Jangka waktu annum. The term of this financing is 36 pembiayaan ini adalah 36 bulan dan jatuh months with due date on June 28, 2022 tempo pada tanggal 28 Juni 2022 termasuk including 9 months grace period. masa tenggang waktu (grace period) selama 9 bulan. - Pada tanggal 31 Juli 2019, APS - On July 31, 2019, APS obtained facility memperoleh fasilitas sebesar Rp2.109.000 amounting to Rp2,109,000 with profit dengan nisbah bagi hasil 10,93% per sharing ratio at 10.93% per annum. The term tahun. Jangka waktu pembiayaan ini of this financing is 58 months with due date adalah 58 bulan dan jatuh tempo pada on May 20, 2024 including 7 months grace tanggal 20 Mei 2024 termasuk masa period. tenggang waktu (grace period) selama 7 bulan.

100 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Entitas Anak (lanjutan) Subsidiaries (continued) BSM (lanjutan) BSM (continued) - Pada tanggal 31 Juli 2019, APS - On July 31, 2019, APS obtained facility memperoleh fasilitas sebesar Rp3.708.000 amounting to Rp3,708,000 with profit dengan nisbah bagi hasil 14,20% per sharing ratio at 14.20% per annum. The term tahun. Jangka waktu pembiayaan ini of this financing is 60 months with due date adalah 60 bulan dan jatuh tempo pada on July 20, 2024 including 9 months grace tanggal 20 Juli 2024 termasuk masa period. tenggang waktu (grace period) selama 9 bulan. - Pada tanggal 31 Juli 2019, APS - On July 31, 2019, APS obtained facility memperoleh fasilitas sebesar Rp1.572.000 amounting to Rp1,572,000 with profit dengan nisbah bagi hasil 12.16% per sharing ratio 12.16% per annum. The term of tahun. Jangka waktu pembiayaan ini this financing is 34 months term with due adalah 34 bulan dan jatuh tempo pada date on May 20, 2022 including 9 months tanggal 20 Mei 2022 termasuk masa grace period. tenggang waktu (grace period) selama 9 bulan. - Pada tanggal 19 September 2019, APS - On September 19, 2019, APS obtained memperoleh fasilitas sebesar facility amounting to Rp27,807,000 with Rp27.807.000 dengan nisbah bagi hasil profit sharing ratio at 14.08% per annum. 14,08% per tahun. Jangka waktu The term of this financing is 58 months with pembiayaan ini adalah 58 bulan dan jatuh due date on July 20, 2024 including 7 tempo pada tanggal 20 Juli 2024 termasuk months grace period. masa tenggang waktu (grace period) selama 7 bulan. - Pada tanggal 31 Oktober 2019, APS - On October 31, 2019, APS obtained facility memperoleh fasilitas sebesar amounting to Rp23,551,000 with profit Rp23.551.000 dengan nisbah bagi hasil sharing ratio 14.22% per annum`. The term 14,22% per tahun. Jangka waktu 57 bulan of this financing is 57 months with due date dan jatuh tempo pada tanggal 20 Juli 2024 on July 20, 2024 with grace period of 9 termasuk masa tenggang waktu (grace months. period) selama 9 bulan.

- Pada tanggal 31 Oktober 2019, APS - On October 31, 2019, APS obtained facility memperoleh fasilitas sebesar Rp5.283.000 amounting to Rp5,283,000 with profit dengan nisbah bagi hasil 11,13% per sharing ratio at 11.13% per annum. The term tahun. Jangka waktu pembiayaan ini of this financing is 60 months with due date adalah 60 bulan dan jatuh tempo pada on October 20, 2024 with grace period of 9 tanggal 20 Oktober 2024 termasuk masa months. tenggang waktu (grace period) selama 9 bulan. Seluruh fasilitas pembiayaan ini dijamin dengan This facility is secured by all objected financing seluruh obyek investasi yang dibiayai bank dan investment and account receivables APS to the piutang usaha APS kepada Bank sebesar Bank amounted Rp50,000,000. Rp50.000.000. APS diwajibkan oleh BSM untuk menjaga rasio APS is required by BSM to maintain the keuangan yaitu rasio lancar minimum sebesar 1 financial ratios, minimum current ratio of 1 time, kali, debt service coverage minimum sebesar 1 debt service coverage at least 1 time, debt to kali, debt to equity ratio (DER) maksimal 3 kali. equity ratio (DER) maximum 3 times.

101 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

21. UTANG BANK (lanjutan) 21. BANK LOAN (continued) b. Utang bank jangka panjang (lanjutan) b. Long-term bank loans (continued) Entitas Anak (lanjutan) Subsidiaries (continued) BSM (lanjutan) BSM (continued) Pada tanggal 31 Desember 2019, APS telah As of December 31, 2019, APS has complied memenuhi semua persyaratan pinjaman di with all of the above loan covenants. atas. Muamalat Muamalat Pada tanggal 1 Agustus 2019, APP On August 1, 2019, APP obtained Musyarakah memperoleh fasilitas Pembiayaan Musyarakah financing facility from Muamalat with amount of dari Muamalat sebesar Rp15.500.000 dengan Rp15,500,000 with bear interest 9,50% per suku bunga 9,50% per tahun. Pinjaman ini annum. This facility is a revolving and secured bersifat revolving dan dijamin dengan aset by assets (Aviobridges) owned by APP. The garbarata yang dimiliki oleh APP. Jangka waktu term of this facility is 48 months and will be due pembiayaan selama 48 bulan dan akan jatuh on tempo pada tanggal 1 Agustus 2023. Pada August 1, 2023. As of December 31, 2019, the tanggal 31 Desember 2019, saldo pinjaman outstanding balances of these financing facility fasilitas ini sebesar Rp14.420.000. amounted to Rp14,420,000. APP diwajibkan untuk menyampaikan APP is required to made written-notice once pemberitahuan secara tertulis apabila there are any dividend distributed to membagikan dividen kepada pemegang shareholders. saham.

22. UTANG OBLIGASI DAN SUKUK IJARAH 22. BONDS PAYABLE AND SUKUK IJARAH

31 Desember/December 31, 2019 2018 Utang obligasi 2.500.000.000 2.500.000.000 Bonds payable Utang sukuk ijarah 500.000.000 500.000.000 Sukuk ijarah payable Biaya pinjaman yang belum diamortisasi (5.103.677) (6.299.172) Unamortized cost of loans Total 2.994.896.323 2.993.700.828 Total

Mutasi biaya pinjaman yang belum diamortisasi: The movements in the unamortized: Saldo awal 6.299.172 7.525.040 Beginning balance Biaya amortisasi tahun berjalan Current year amortized cost Obligasi (963.570) (993.943) Bonds Sukuk ijarah (231.925) (231.925) Sukuk ijarah Saldo akhir 5.103.677 6.299.172 Ending balance

Pada tanggal 10 November 2016, Perusahaan On November 10, 2016, the Company has obtained telah mendapatkan pernyataan efektif dari Otoritas an effective statement from Otoritas Jasa Keuangan Jasa Keuangan (OJK) atas penerbitan Obligasi I (OJK) on the issuance of Bonds I Angkasa Pura I Angkasa Pura I Tahun 2016 dengan rincian Year 2016 with detail as follows: sebagai berikut: Obligasi/Bonds

Bunga per Tahun/ Jangka Waktu / Nominal Interest per Annum Periods

Seri A 622.000.000 8,10 % 5 tahun/years Seri A Seri B 389.000.000 8,40 % 7 tahun/years Seri B Seri C 1.489.000.000 8,55 % 10 tahun/years Seri C

Total 2.500.000.000 Total

102 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

22. UTANG OBLIGASI DAN SUKUK IJARAH 22. BONDS PAYABLE AND SUKUK IJARAH (lanjutan) (continued) Sukuk Ijarah/Sukuk ijarah

Imbalan per Tahun/ Jangka Waktu/ Nominal Benefit per Annum Periods

Seri A 268.000.000 21.708.000 5 tahun/years Seri A Seri B 55.000.000 4.620.000 7 tahun/years Seri B Seri C 177.000.000 15.133.500 10 tahun/years Seri C

Total 500.000.000 41.461.500 Total

Berdasarkan perjanjian dengan PT Bank Mega Tbk Based on the agreement with PT Bank Mega Tbk as selaku Wali Amanat utang obligasi dan utang Trustee for bonds payable and sukuk ijarah, 75% of sukuk ijarah, 75% dana yang diperoleh akan fund received will be used for the development of 5 digunakan untuk pengembangan 5 (lima) bandara (five) airports there are the new airport in yaitu bandara baru Yogyakarta, Ahmad Yani- Yogyakarta, Ahmad Yani-Semarang, Banjarmasin Semarang, Syamsudin Noor Banjarmasin, Juanda Syamsudin Noor, Juanda Surabaya and Makassar Surabaya dan Sultan Hasanudin Makasar. Sultan Hasanuddin.

Obligasi dan sukuk ijarah ini tidak dijamin dengan Bonds and sukuk ijarah are not secured by specific jaminan khusus, tetapi baik langsung maupun tidak collateral, but either directly or indirectly secured by langsung dijamin dengan seluruh harta kekayaan all assets of the Company wealth, goods moveable Perusahaan, baik barang bergerak maupun barang or immovable, either existing or that will exist in the tidak bergerak, baik yang telah ada maupun yang future. akan ada di kemudian hari. Perusahaan juga diwajibkan untuk The Company is also required to maintain certain mempertahankan rasio-rasio keuangan tertentu financial ratios during the bonds payable ratio as selama periode utang obligasi sebagai berikut: follows: a) Perbandingan aset lancar terhadap kewajiban a) Ratio of current assets to current liabilities not lancar tidak kurang dari 1 kali. less than 1 time. b) Perbandingan total pinjaman terhadap total b) Ratio of total debt to total equity not more than ekuitas tidak lebih dari 3 kali. 3 times. c) Perbandingan penghasilan sebelum beban c) Ratio of earnings before income tax, pajak penghasilan, penyusutan dan amortisasi depreciation and amortization to interest terhadap beban bunga pinjaman tidak kurang expenses not less than 1 time. dari 1 kali. Pada tanggal 31 Desember 2019, Perusahaan As of December 31, 2019, the Company has telah memenuhi semua kewajiban dalam complied with all covenant required by its perjanjiannya dengan Wali Amanat dan tidak ada agreement with the Trustee and there is no cross peristiwa gagal silang sehubungan dengan utang default incurred in relation with other long-term jangka panjang lainnya. loans.

Perusahaan tidak dapat memenuhi persyaratan The Company were unable to meet the ratio of aset lancar terhadap kewajiban lancar tidak kurang current assets to current liabilities not less than 1 dari 1 kali pada tanggal 31 Desember 2018. Namun time as of December 31, 2018. However, this demikian kondisi ini tidak menyebabkan kewajiban condition does not constitute an event of continuing menjadi segera jatuh tempo. Berdasarkan breach of covenant which causes the loan to perjanjian perwaliamanatan, Perusahaan diberikan become due immediately. Based on a trustee kesempatan untuk memperbaiki rasio lancar dalam agreement, the Company is given the opportunity to kurun waktu paling lama 90 hari setelah diterima improve the current ratio within a maximum period teguran tertulis dari Wali Amanat, dan Perusahaan of 90 days after receipt of a written warning from the memiliki keyakinan untuk dapat memperbaiki rasio Trustee, and the Company is reasonably certain in lancar selama periode tersebut. improving the the current ratio during such period.

103 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

23. UTANG JANGKA PANJANG LAINNYA 23. OTHER LONG-TERM LIABILITIES

31 Desember/December 31, 2019 2018

Utang jangka panjang lainnya: Other long-term liabilities: Jaminan pelanggan 284.446.771 58.686.328 Customer deposit Pendapatan diterima di muka 100.971.111 106.042.529 Unearned revenue Jaminan usaha pemasok 2.571.343 3.746.528 Vendor deposit Lainnya 982.236 2.053.469 Others Total 388.971.461 170.528.854 Total

Utang jaminan pelanggan terutama merupakan Customer deposit mainly represents deposit jaminan yang diterima Perusahaan dari para received from the tenant on the airport support penyewa atas fasilitas pendukung bandara. Utang facilities. Customer deposit will be paid back to the jaminan tersebut akan dibayar kembali kepada tenant when the lease relationship and the use of penyewa apabila hubungan sewa menyewa dan the facility expires. pemakaian fasilitas berakhir.

Utang jangka panjang lainnya - pendapatan diterima Other long-term liabilities - unearned revenue di muka merupakan pendapatan yang diterima di represent unearned revenue of the Company from muka Perusahaan dari PT Duta Paramindo PT Duta Paramindo Sejahtera (DPS) due to Sejahtera (DPS) atas penyerahan penggunaan handover of land with use management rights of tanah dengan hak pengelolaan seluas 129.216 m² 129,216m2 owned by the Company located on Jalan milik Perusahaan yang terletak di Jalan Pramukasari, Rawasari Village, Cempaka Putih Pramukasari, Kelurahan Rawasari, Kecamatan District - Central Jakarta. The land will be used for Cempaka Putih - Jakarta Pusat. Tanah tersebut the construction of simple flats belonging (rusunami) akan digunakan untuk pembangunan rumah susun based on the agreement between the Company and sederhana milik (rusunami) berdasarkan perjanjian DPS on October 21, 2009 with term of the antara Perusahaan dan DPS tanggal 21 Oktober agreement is 30 years and can be extended for an 2009 dengan jangka waktu perjanjian 30 tahun dan additional period of 20 years. For the handover of dapat diperpanjang untuk jangka waktu tambahan land with use management rights, the Company selama 20 tahun. Atas penyerahan penggunaan received compensation from DPS amounting to tanah dengan hak pengelolaan tersebut, Rp173,407,872 (including VAT). Perusahaan menerima uang penggantian dari DPS sebesar Rp173.407.872 (termasuk PPN).

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES Perusahaan menunjuk PT Milliman Indonesia dan The Company has appointed PT Milliman Indonesia PT Katsir Imam Sapto Sejahtera Aktuaria (KIS), and Katsir Imam Sapto Sejahtera Aktuaria (KIS), semuanya aktuaris independen, untuk melakukan independent actuarists, to conduct the actuarial perhitungan aktuarial liabilitas imbalan kerja calculation of employee benefits liabilities consist of karyawan yang terdiri dari program tunjangan hari retirement allowance, housing allowance, employee tua, tunjangan perumahan, penghargaan appreciation, retiree health and pension fund for pengabdian, kesehatan pensiun dan dana pensiun period 2019 and 2018, respectively. masing-masing untuk tahun 2019 dan 2018.

104 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan) Liabilitas imbalan kerja karyawan pada tanggal The employee benefits liabilities as of December 31, 31 Desember 2019 dan 2018 dihitung dengan 2019 and 2018 were calculated using the projected- menggunakan metode projected-unit-credit oleh unit-credit method by the independent actuarists, aktuaris independen tersebut di atas, masing- based on its reports dated January 17, 2020 and masing berdasarkan laporannya pada tanggal January 7, 2019, respectively. 17 Januari 2020 dan 7 Januari 2019. 31 Desember/December 31, 2019 2018

Perusahaan The Company Tunjangan hari tua 79.846.505 - Retirement allowance Tunjangan perumahan 22.513.726 20.713.486 Housing allowance Penghargaan pengabdian 22.482.051 12.667.287 Employee appreciation Kesehatan pensiun 58.181.220 - Retirement health Dana pensiun 229.669.098 252.845.361 Pension fund

Sub-total 412.692.600 286.226.134 Subtotal Entitas anak 24.600.606 16.168.841 Subsidiaries Total 437.293.206 302.394.975 Total

a. Tunjangan hari tua a. Retirement allowance Tunjangan hari tua diberikan kepada karyawan Retirement allowance are given to employees yang diberhentikan dan janda/duda dari who are dismissed and to widows/widowers of karyawan yang meninggal dunia. Program employees who die. Retirement allowance is tunjangan hari tua ini dikelola oleh Yayasan managed by the Angkasa Pura I Employee Kesejahteraan Karyawan Angkasa Pura I Welfare Foundation (YAKKAP I). (YAKKAP I). Asumsi aktuaria yang digunakan dalam The actuarial assumptions used to determine menentukan beban dan liabilitas tunjangan retirement allowance expenses and liabilities hari tua adalah sebagai berikut: are as follows: 31 Desember/December 31, 2019 2018 Tingkat diskonto 7,60% 8,60% Discount rate Tingkat kenaikan Penghasilan Dasar Basic Income Retirement Tunjangan Hari Tua (PhDTHT) 3,00% 3,00% Allowance (PhdDTHT)increase Tingkat mortalita TMI III 2011 TMI III 2011 Mortality rate Tingkat cacat 1% 1% Disability rate Umur pensiun 56 tahun/56 years 56 tahun/56 years Retirement age Tingkat mengundurkan diri 0,7% pada usia 20 tahun sampai dengan 45 tahun Resignation rate dan sebesar 0,1% pada usia 46 tahun sampai dengan 55 tahun/ 0,7% at 20 years until 45 years old and 0,1% at 46 years until 55 years Nilai kini liabilitas dan nilai wajar aset program The present value of liabilities and fair value of pada tanggal 31 Desember 2019 dan 2018 plan assets as of December 31, 2019 and 2018 adalah: are as follows: 31 Desember/December 31, 2019 2018 Nilai kini liabilitas 566.958.296 463.299.359 Present value of liabilities Nilai wajar aset program (487.111.791) (518.347.376) Fair value of plan assets Defisit (surplus) 79.846.505 (55.048.017) Deficit (surplus) Dampak batas aset - 55.048.017 Effect of asset ceiling Liabilitas yang diakui 79.846.505 - Recognized liabilities

105 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

a. Tunjangan hari tua (lanjutan) a. Retirement allowance (continued)

Rekonsiliasi saldo awal dan akhir dari nilai kini The reconciliation of beginning and ending liabilitas adalah sebagai berikut: balance of present value of liabilities is as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas awal tahun 463.299.359 523.984.744 Present value of liabilities beginning of year Biaya jasa kini 36.089.958 35.946.947 Current service cost Biaya bunga 36.562.391 35.672.734 Interest cost Iuran peserta program 6.205.562 6.076.574 Plan participant’s contributions Pembayaran imbalan (76.310.534) (57.060.202) Benefits paid Kerugian (keuntungan) aktuarial 101.111.560 (81.321.438) Actuarial loss (gain) Nilai kini liabilitas akhir tahun 566.958.296 463.299.359 Present value of liabilities end of year

Rekonsiliasi saldo awal dan akhir dari nilai The reconciliation of beginning and ending wajar aset program adalah sebagai berikut: balance of fair value of plan assets is as follows:

31 Desember/December 31,

2019 2018 Nilai wajar aset program awal tahun 518.347.376 323.327.475 Fair value of plan assets beginning of year Iuran peserta program 6.205.562 6.076.574 Plan participant’s contributions Iuran pemberi kerja 46.657.343 206.583.073 Employer’s contributions Imbal hasil aset program 43.569.626 32.090.176 Return on plan assets Pembayaran imbalan (76.310.534) (57.060.202) Benefit paid Kerugian (keuntungan) aktuarial (51.357.580) 7.330.280 Actuarial loss (gain) Nilai wajar aset program akhir tahun 487.111.793 518.347.376 Fair value of plan assets end of year

Rincian beban yang diakui dalam laporan laba The details of expenses recognized in the rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and konsolidasian adalah sebagai berikut: other comprehensive income are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31 2019 2018 Biaya jasa kini 36.089.959 35.946.947 Current service cost Biaya bunga 36.562.391 35.672.734 Interest cost Ekspektasi hasil program (43.569.625) (32.090.176) Expectations plan assets Total 29.082.725 39.529.505 Total

106 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

a. Tunjangan hari tua (lanjutan) a. Retirement allowance (continued)

Rekonsiliasi saldo pengukuran kembali pada The reconciliation of re-measurement in the laporan posisi keuangan konsolidasian adalah consolidated statements of financial position sebagai berikut: are as follows: 31 Desember/December 31,

2019 2018 Jumlah pengukuran kembali Re-measurement awal tahun (106.044.999) (72.441.298) amount beginning of year Kerugian (keuntungan) aktuarial 101.111.560 (88.651.718) Actuarial loss (gain) Dampak batas aset (55.048.017) 55.048.017 Effect of asset ceiling Akumulasi jumlah Accumulated amount of pengukuran kembali (59.981.456) (106.044.999) re-measurements

Mutasi liabilitas yang diakui di laporan posisi The movements of the liabilities in the keuangan konsolidasian adalah sebagai consolidated statement of financial position are berikut: as follows: 31 Desember/December 31, 2019 2018 Liabilitas awal tahun - 200.657.269 Liabilities beginning of year Beban yang diakui dalam laba rugi 29.082.725 39.529.505 Expense recognized in profit or loss Beban (penghasilan) yang diakui dalam penghasilan Expense (income) recognized in komprehensif lain 152.469.141 (88.651.718) the other comprehensive income Dampak batas aset (55.048.017) 55.048.017 Effect of asset ceiling Pembayaran (46.657.343) (206.583.073) Contribution

Liabilitas akhir tahun 79.846.506 - Liabilities end of year

Nilai kini liabilitas akhir setelah efek analisa The present values of liabilities after the effect sensitivitas pada tanggal 31 Desember 2019 of sensitivity analysis on December 31, 2019 adalah sebagai berikut: are as follows:

Analisis sensitivitas Sensitivity analysis Nilai kini kewajiban imbalan pasti PV defined benefits obligations Asumsi Tingkat Diskonto Discount Rate Assumptions + 1,00% (42.169.145) + 1.00% - 1,00% 49.076.978 - 1.00% Asumsi Tingkat Kenaikan Gaji Salary Increment Assumptions + 1,00% 56.915.588 + 1.00% - 1,00% (49.383.653) -1.00%

Komposisi pengelolaan dana atas aset The composition of management of planned ditempatkan adalah pada deposito berjangka, asset are on time deposits, loan receivables, piutang pinjaman, reksadana, obligasi dan aset mutual funds, bonds and other assets. lainnya.

107 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

b. Tunjangan perumahan b. Housing allowance

Sesuai ketentuan Perusahaan, karyawan yang Based on the Company’s provisions, telah bekerja secara terus menerus di employees who have worked continuously for Perusahaan selama 20 tahun diberikan 20 years are given a housing allowance. tunjangan perumahan.

Asumsi aktuaria yang digunakan dalam The actuarial assumptions used to determine menentukan beban dan liabilitas tunjangan housing allowance expenses and liabilities are perumahan adalah sebagai berikut: as follows: 31 Desember/December 31, 2019 2018

Tingkat diskonto 7,3% 8,70% Discount rate Tingkat mortalita TMI III 2011 TMI III 2011 Mortality rate Tingkat cacat 1% 1% Disability rate Umur pensiun 56 tahun/56 years 56 tahun/56 years Retirement age Tingkat mengundurkan diri 0,7% pada usia 20 tahun sampai dengan 45 tahun Resignation rate dan sebesar 0,1% pada usia 46 tahun sampai dengan 55 tahun/ 0,7% at 20 years until 45 years old and 0,1% at 46 years until 55 years

Nilai kini liabilitas pada tanggal 31 Desember The present value of liabilities as of December 2019 dan 2018 adalah: 31, 2019 and 2018 are as follows:

31 Desember/December 31, 2019 2018 Nilai kini liabilitas 22.513.726 20.713.486 Present value of liabilities

Liabilitas yang diakui 22.513.726 20.713.486 Recognized liabilities

Rekonsiliasi saldo awal dan akhir dari nilai kini The reconciliation of beginning and ending liabilitas adalah sebagai berikut: balance of present value of liabilities is as follows:

31 Desember/December 31, 2019 2018 Nilai kini liabilitas awal tahun 20.713.486 13.079.459 Present value of liabilities beginning of year Biaya jasa kini 2.269.951 2.570.209 Current service cost Biaya bunga 1.796.335 644.114 Interest cost Pembayaran imbalan (131.904) (8.266.850) Benefits paid Dampak perubahan manfaat - 7.902.310 The impact of change of benefit Kerugian aktuarial (2.134.142) 4.784.244 Actuarial loss Nilai kini liabilitas akhir tahun 22.513.726 20.713.486 Present value of liabilities end of year

108 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

b. Tunjangan perumahan (lanjutan) b. Housing allowance (continued)

Rincian beban yang diakui dalam laporan laba The details of expenses recognized in the rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and konsolidasian adalah sebagai berikut: other comprehensive income are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 Biaya jasa kini 2.269.951 2.570.209 Current service cost Biaya bunga 1.796.335 644.114 Interest cost Dampak perubahan manfaat - 7.902.310 The impact of change of benefit Total 4.066.286 11.116.633 Total

Rekonsiliasi saldo pengukuran kembali pada The reconciliation of re-measurement in the laporan posisi keuangan konsolidasian adalah consolidated statements of financial position sebagai berikut: are as follows:

31 Desember/December 31,

2019 2018

Jumlah pengukuran Re-measurement amount kembali awal tahun (2.261.180) (7.045.424) beginning of year Kerugian aktuarial (2.134.142) 4.784.244 Actuarial loss Akumulasi jumlah Accumulated amount of pengukuran kembali (4.395.322) (2.261.180) re-measurements

Mutasi liabilitas yang diakui di laporan posisi The movements of the liabilities in the keuangan konsolidasian adalah sebagai consolidated statement of financial position are berikut: as follows:

31 Desember/December 31,

2019 2018 Liabilitas awal tahun 20.713.486 13.079.459 Liabilities beginning of year Beban yang diakui dalam laba rugi 4.066.286 11.116.633 Expense recognized in profit or loss Beban yang diakui dalam Expense recognized in penghasilan komprehensif lain (2.134.142) 4.784.244 the other comprehensive income Pembayaran (131.904) (8.266.850) Contribution Liabilitas akhir tahun 22.513.726 20.713.486 Liabilities end of year

Nilai kini liabilitas akhir setelah efek analisa The present values of liabilities after the effect sensitivitas pada tanggal 31 Desember 2019 of sensitivity analysis on December 31, 2019 adalah sebagai berikut: are as follows:

Analisis sensitivitas Sensitivity analysis Nilai kini kewajiban imbalan pasti PV defined benefits obligations Asumsi Tingkat Diskonto Discount Rate Assumptions + 1,00% (689.465) + 1.00% - 1,00% 740.534 - 1.00%

109 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

c. Penghargaan pengabdian c. Employee appreciation

Penghargaan pengabdian diberikan kepada Employee appreciation are given to employees pegawai yang mengabdi terus menerus selama who serve continuously for at least 25 years in sekurang-kurangnya 25 tahun di Perusahaan the Company including the service period termasuk masa kerja pada masa penugasan di during outside assignments that are recognized luar Perusahaan yang diakui sebagai bagian as part of the career pattern and employees dari pola karir serta pegawai yang mengakhiri who end their term of service and are honorably masa tugas dan diberhentikan dengan hormat terminated because they reach the normal karena mencapai batas usia pensiun normal retirement age or die. atau meninggal dunia.

Asumsi aktuaria yang digunakan dalam The actuarial assumptions used to determine menentukan beban dan liabilitas penghargaan employee appreciation expenses and liabilities pengabdian adalah sebagai berikut: are as follows:

31 Desember/December 31, 2019 2018

Tingkat diskonto 7,60% 8,70% Discount rate Tingkat kenaikan gaji 8,00% 8,00% Salary increase rate Tingkat mortalita TMI III 2011 TMI III 2011 Mortality rate Tingkat cacat 1% 1% Disability rate Umur pensiun 56 tahun/56 years 56 tahun/56 years Retirement age Tingkat mengundurkan diri 0,7% pada usia 20 tahun sampai dengan 45 tahun Resignation rate dan sebesar 0,1% pada usia 46 tahun sampai dengan 55 tahun/ 0,7% at 20 years until 45 years old and 0,1% at 46 years until 55 years

Nilai kini liabilitas pada tanggal The present value of liabilities as of 31 Desember 2019 dan 2018 adalah: December 31, 2019 and 2018 are as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas 22.482.051 12.667.287 Present value of liabilities

Liabilitas yang diakui 22.482.051 12.667.287 Recognized liabilities

Rekonsiliasi saldo awal dan akhir dari nilai kini The reconciliation of beginning and ending liabilitas adalah sebagai berikut: balance of present value of liabilities is as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas awal tahun 12.667.287 13.004.383 Present value of liabilities beginning of year Biaya jasa kini 1.696.740 987.418 Current service cost Biaya bunga 1.022.488 902.001 Interest cost Pembayaran imbalan (1.829.096) (953.187) Benefits paid Kerugian (keuntungan) aktuarial 8.924.632 (1.273.328) Actuarial loss (gain) Nilai kini liabilitas akhir tahun 22.482.051 12.667.287 Present value of liabilities end of year

110 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

c. Penghargaan pengabdian (lanjutan) c. Employee appreciation (continued)

Rincian beban yang diakui dalam laporan laba The details of expenses recognized in the rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and konsolidasian adalah sebagai berikut: other comprehensive income are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 Biaya jasa kini 1.696.740 987.418 Current service cost Biaya bunga 1.022.488 902.001 Interest cost

Total 2.719.228 1.889.419 Total

Rekonsiliasi saldo pengukuran kembali pada The reconciliation of re-measurement in the laporan posisi keuangan konsolidasian adalah consolidated statements of financial position sebagai berikut: are as follows:

31 Desember/December 31, 2019 2018 Jumlah pengukuran kembali Re-measurement amount awal tahun (224.571) 1.048.757 beginning of year Kerugian (keuntungan) aktuarial 8.924.632 (1.273.328) Actuarial loss (gain)

Akumulasi jumlah Accumulated amount of pengukuran kembali 8.700.061 (224.571) re-measurements

Mutasi liabilitas yang diakui di laporan posisi The movements of the liabilities in the keuangan konsolidasian adalah sebagai consolidated statement of financial position are berikut: as follows:

31 Desember/December 31, 2019 2018

Liabilitas awal tahun 12.667.287 13.004.383 Liabilities beginning of year Beban yang diakui dalam laba rugi 2.719.228 1.889.419 Expense recognized in profit or loss Beban (penghasilan) yang diakui dalam penghasilan Expense (income) recognized in komprehensif lain 8.924.632 (1.273.328) the other comprehensive income Pembayaran (1.829.096) (953.187) Contribution Liabilitas akhir tahun 22.482.051 12.667.287 Liabilities end of year

Nilai kini liabilitas akhir setelah efek analisa The present values of liabilities after the effect sensitivitas pada tanggal 31 Desember 2019 of sensitivity analysis on December 31, 2019 adalah sebagai berikut: are as follows:

Analisis sensitivitas Sensitivity analysis Nilai kini kewajiban imbalan pasti PV defined benefits obligations Asumsi Tingkat Diskonto Discount Rate Assumptions + 1,00% (1.512.593) + 1.00% - 1,00% 1.733.399 - 1.00% Asumsi Tingkat Kenaikan Gaji Salary Increment Assumptions + 1,00% 2.026.613 + 1.00% - 1,00% (1.804.818) -1.00% 111 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

c. Penghargaan pengabdian (lanjutan) c. Employee appreciation (continued)

Kesehatan pensiun diberikan kepada pegawai Pension health is given to employees in pada masa pensiun meliputi pegawai yang retirement including the employee concerned bersangkutan bersama istri/suami dan anak with his/her wife/husband and legitimate yang sah yang tercantum dalam Surat children listed in the Pension Decree. The Keputusan Pensiun. Manfaat yang diterima benefits received by participants were in the peserta berupa premi BPJS dan bantuan form of BPJS premiums and assistance in penggantian rawat inap dalam jumlah tertentu. hospitalization reimbursement at certain Program kesehatan pensiun ini dikelola oleh amount. This pension health program is Yayasan Kesejahteraan karyawan Angkasa managed by the Angkasa Pura I Employee Pura I (YAKKAP I). Welfare Foundation (YAKKAP I).

d. Kesehatan pensiun d. Pension health

Asumsi aktuaria yang digunakan dalam The actuarial assumptions used to determine menentukan beban dan liabilitas kesehatan pension health expenses and liabilities are as pensiun adalah sebagai berikut: follows:

31 Desember/December 31,

2019 2018

Tingkat diskonto 8,00% 8,60% Discount rate Tingkat mortalita TMI III 2011 TMI III 2011 Mortality rate Tingkat cacat 1% 1% Disability rate Umur pensiun 56 tahun/56 years 56 tahun/56 years Retirement age Tingkat mengundurkan diri 0,7% pada usia 20 tahun sampai dengan 45 tahun Resignation rate dan sebesar 0,1% pada usia 46 tahun sampai dengan 55 tahun/ 0,7% at 20 years until 45 years old and 0,1% at 46 years until 55 years

Nilai kini liabilitas dan nilai wajar aset program The present value of liabilities and fair value of pada tanggal 31 Desember 2019 dan 2018 plan assets as of December 31, 2019 and 2018 adalah: are as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas 437.164.699 343.788.633 Present value of liabilities Nilai wajar aset program (378.983.479) (364.643.470) Fair value of plan assets

Defisit (surplus) 58.181.220 (20.854.837) Deficit (surplus) Dampak batas aset - 20.854.837 Effect of asset ceiling

Liabilitas yang diakui 58.181.220 - Recognized liabilities

112 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

d. Kesehatan pensiun (lanjutan) d. Pension health (continued)

Rekonsiliasi saldo awal dan akhir dari nilai kini The reconciliation of beginning and ending liabilitas adalah sebagai berikut: balance of present value of liabilities is as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas awal tahun 343.788.633 336.686.864 Present value of liabilities beginning of year Biaya jasa kini (107.026) 3.469.420 Current service cost Biaya bunga 29.366.257 24.103.697 Interest cost Iuran peserta program 3.535.200 3.344.700 Plan participant’s contributions Pembayaran imbalan (4.641.049) (3.826.600) Benefits paid Dampak perubahan manfaat - 46.225.870 The impact of change of benefit Kerugian (keuntungan) aktuarial 65.222.685 (66.215.318) Actuarial loss (gain) Nilai kini liabilitas akhir tahun 437.164.700 343.788.633 Present value of liabilities end of year

Rekonsiliasi saldo awal dan akhir dari nilai The reconciliation of beginning and ending wajar aset program adalah sebagai berikut: balance of fair value of plan assets is as follows:

31 Desember/December 31,

2019 2018 Nilai wajar aset program awal tahun 364.643.470 288.721.125 Fair value of plan assets beginning of year Iuran peserta program 3.535.200 3.344.701 Plan participant’s contributions Iuran pemberi kerja - 47.965.936 Employer’s contributions Imbal hasil aset program 31.311.786 24.997.051 Return on plan assets Pembayaran imbalan (4.641.049) (3.826.601) Benefit paid Kerugian (keuntungan) aktuarial (15.865.928) 3.441.258 Actuarial loss (gain) Nilai wajar aset program Fair value of plan assets akhir tahun 378.983.479 364.643.470 end of year

Rincian beban yang diakui dalam laporan laba The details of expenses recognized in the rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and konsolidasian adalah sebagai berikut: other comprehensive income are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 Biaya jasa kini (107.026) 3.469.420 Current service cost Biaya bunga 29.366.257 24.103.697 Interest cost Dampak perubahan manfaat - 46.225.870 The impact of change of benefit Ekspektasi hasil program (31.311.786) (24.997.051) Expectations plan assets

Total (2.052.555) 48.801.936 Total

113 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

d. Kesehatan pensiun (lanjutan) d. Pension health (continued)

Rekonsiliasi saldo pengukuran kembali pada The reconciliation of re-measurement in the laporan posisi keuangan konsolidasian adalah consolidated statements of financial position sebagai berikut: are as follows:

31 Desember/December 31,

2019 2018 Jumlah pengukuran Re-measurement amount kembali awal tahun (33.760.758) 15.040.981 beginning of year Kerugian (keuntungan) aktuarial 65.222.685 (69.656.576) Actuarial loss (gain) Dampak batas aset (20.854.837) 20.854.837 Effect of asset ceiling

Akumulasi jumlah Accumulated amount of pengukuran kembali 10.607.090 (33.760.758) re-measurements

Mutasi liabilitas yang diakui di laporan posisi The movements of the liabilities in the keuangan konsolidasian adalah sebagai consolidated statement of financial position are berikut: as follows: 31 Desember/December 31, 2019 2018 Liabilitas awal tahun - 47.965.739 Liabilities beginning of year Beban yang diakui dalam laba rugi (2.052.555) 48.801.936 Expense recognized in profit or loss Beban (penghasilan) yang diakui dalam penghasilan Expense (income) recognized in komprehensif lain 81.088.612 (69.656.576) the other comprehensive income Dampak batas aset (20.854.837) 20.854.837 Effect of asset ceiling Iuran pemberi kerja (47.965.936) Employer’s contributions

Liabilitas akhir tahun 58.181.220 - Liabilities end of year

Nilai kini liabilitas akhir setelah efek analisa The present values of liabilities after the effect sensitivitas pada tanggal 31 Desember 2019 of sensitivity analysis on December 31, 2019 adalah sebagai berikut: are as follows:

Analisis sensitivitas Sensitivity analysis Nilai kini kewajiban imbalan pasti PV defined benefits obligations Asumsi Tingkat Diskonto Discount Rate Assumptions + 1,00% (80.019.159) + 1.00% - 1,00% 89.738.229 - 1.00%

Komposisi pengelolaan dana atas aset The composition of management of planned ditempatkan adalah pada deposito berjangka, asset are on time deposits, receivable loans, piutang pinjaman, reksadana, obligasi, properti mutual funds, bonds, property and stocks. dan saham.

114 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

e. Program dana pensiun e. Pension fund program

Program dana pensiun ini dikelola oleh Dana The pension fund program is managed by Dana Pensiun Angkasa Pura I. Pensiun Angkasa Pura I.

Asumsi aktuaria yang digunakan dalam The actuarial assumptions used to determine menentukan beban dan liabilitas dana pensiun pension fund expenses and liabilities are as adalah sebagai berikut: follows:

31 Desember/December 31, 2019 2018

Tingkat diskonto 7,80% 8,20% Discount rate Tingkat kenaikan Penghasilan Dasar Basic Income Pension Allowance (PhDP) Pensiun (PhDP) 6,00% 6,00% increase Tingkat mortalita TMI III 2011 TMI III 2011 Mortality rate Tingkat cacat 1% 1% Disability rate Umur pensiun 56 tahun/56 years 56 tahun/56 years Retirement age Tingkat mengundurkan diri 0,7% pada usia 20 tahun sampai dengan 45 tahun Resignation rate dan sebesar 0,1% pada usia 46 tahun sampai dengan 55 tahun/ 0,7% at 20 years until 45 years old and 0,1% at 46 years until 55 years

Nilai kini liabilitas dan nilai wajar aset program The present value of liabilities and fair value of pada tanggal 31 Desember 2019 dan 2018 plan assets as of December 31, 2019 and 2018 adalah: are as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas 1.265.543.259 1.307.819.972 Present value of liabilities Nilai wajar aset program (1.035.874.161) (1.054.974.611) Fair value of plan assets

Liabilitas yang diakui 229.669.098 252.845.361 Recognized liabilities

Rekonsiliasi saldo awal dan akhir dari nilai kini The reconciliation of beginning and ending liabilitas adalah sebagai berikut: balance of present value of liabilities is as follows:

31 Desember/December 31,

2019 2018 Nilai kini liabilitas awal tahun 1.307.819.972 1.242.689.703 Present value of liabilities beginning of year Biaya jasa kini 12.426.056 10.058.451 Current service cost Biaya bunga 103.160.815 85.369.830 Interest cost Iuran peserta program 2.589.440 2.782.989 Plan participant’s contributions Pembayaran imbalan (99.522.496) (113.995.231) Benefits paid Dampak perubahan manfaat - The impact of change of benefit Kerugian aktuarial (60.930.528) 80.914.230 Actuarial loss Nilai kini liabilitas akhir tahun 1.265.543.259 1.307.819.972 Present value of liabilities end of year

115 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan)

e. Program dana pensiun (lanjutan) e. Pension fund program (continued)

Rekonsiliasi saldo awal dan akhir dari nilai The reconciliation of beginning and ending wajar aset program adalah sebagai berikut: balance of fair value of plan assets is as follows:

31 Desember/December 31, 2019 2018

Nilai wajar aset program awal tahun 1.054.974.611 977.143.078 Fair value of plan assets beginning of year Iuran peserta program 2.589.440 2.782.989 Plan participant’s contributions Iuran pemberi kerja 14.314.294 184.797.458 Employer’s contributions Imbal hasil aset program 83.120.549 91.254.212 Return on plan assets Pembayaran imbalan (99.522.496) (113.995.231) Benefit paid Kerugian aktuarial (19.602.236) (87.007.895) Actuarial loss

Nilai wajar aset program Fair value of plan assets akhir tahun 1.035.874.162 1.054.974.611 end of year

Rincian beban yang diakui dalam laporan laba The details of expenses recognized in the rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and konsolidasian adalah sebagai berikut: other comprehensive income are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 Biaya jasa kini 12.426.056 10.058.451 Current service cost Biaya bunga 103.160.815 85.369.830 Interest cost Ekspektasi hasil program (83.120.549) (91.254.212) Expectations plan assets Total 32.466.322 4.174.069 Total

Rekonsiliasi saldo pengukuran kembali pada The reconciliation of re-measurement in the laporan posisi keuangan konsolidasian adalah consolidated statements of financial position sebagai berikut: are as follows:

31 Desember/December 31,

2019 2018 Jumlah pengukuran kembali Re-measurement amount awal tahun 392.982.007 225.059.882 beginning of year (Keuntungan)/kerugian aktuarial (60.930.528) 167.922.125 Actuarial (gain)/loss

Akumulasi jumlah Accumulated amount of pengukuran kembali 332.051.479 392.982.007 re-measurements

116 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

24. LIABILITAS IMBALAN KERJA KARYAWAN 24. EMPLOYEE BENEFITS LIABILITIES (continued) (lanjutan) e. Program dana pensiun (lanjutan) e. Pension fund program (continued) Mutasi liabilitas yang diakui di laporan posisi The movements of the liabilities in the keuangan konsolidasian adalah sebagai consolidated statement of financial position are berikut: as follows: 31 Desember/December 31,

2019 2018

Liabilitas awal tahun 252.845.361 265.546.625 Liabilities beginning of year Beban yang diakui dalam laba rugi 32.466.322 4.174.069 Expense recognized in profit or loss Beban yang diakui dalam Expense recognized in penghasilan komprehensif lain (41.328.292) 167.922.125 the other comprehensive income Iuran pemberi kerja (14.314.293) (184.797.458) Employer’s contributions

Liabilitas akhir tahun 229.669.098 252.845.361 Liabilities end of year

Nilai kini liabilitas akhir setelah efek analisa The present values of liabilities after the effect sensitivitas pada tanggal 31 Desember 2019 of sensitivity analysis on December 31, 2019 adalah sebagai berikut: are as follows: Analisis sensitivitas Sensitivity analysis Nilai kini kewajiban imbalan pasti PV defined benefits obligations Asumsi Tingkat Diskonto Discount Rate Assumptions + 1,00% (112.665.117) + 1.00% - 1,00% 134.819.500 - 1.00%

Asumsi Tingkat Kenaikan Gaji Salary Increment Assumptions + 1,00% 25.332.048 + 1.00% - 1,00% (21.964.785) -1.00% Komposisi pengelolaan dana atas aset The composition of management of planned ditempatkan adalah pada surat berharga asset are on Government bond, time deposits, negara, deposito berjangka, saham, stocks, mutual funds, bonds and other assets. reksadana, obligasi dan aset lainnya.

25. MODAL SAHAM 25. SHARES CAPITAL

Jumlah saham ditempatkan Pemegang saham/ dan disetor penuh /Number of % Pemilikan/ Shareholder share issued and fully paid ownership Total Pemerintah Indonesia/ 6.414.412 100% 6.414.412.000 Government of The Republic of Indonesia

Perubahan Anggaran dasar berdasarkan akta The last amendment to the Articles of Association Pernyataan Keputusan Rapat dan Keputusan Para were based on the Deed of Meeting Resolution and Pemegang Saham yang diambil Di luar Rapat Shareholders Meeting taken outside the meeting of PT Angkasa Pura I (Persero) No.5 dengan Notaris PT Angkasa Pura I (Persero) No.5 on the date Utiek R. Abdulrachman, SH., MLI., MKn mengenai mentioned above by the notary of Utiek R. diantaranya peningkatan modal dasar dan Abdulrachman, SH., MLI.,MKn., regarding the penambahan modal Negara Republik Indonesia ke capital increases and additional capital of the dalam modal Perusahaan. Akta perubahan Republic of Indonesia to the capital of the Company. anggaran dasar tersebut telah mendapatkan The Deed of Amendment had been approved by the pengesahan dari Kementerian Hukum dan Hak Ministry of Justice and Human Rights of the Asasi Manusia Republik Indonesia dengan Republic of Indonesia with his letter No.AHU- No.AHU-46777.AH.01.02 Tahun 2012 pada tanggal 46777.AH.01.02 Tahun 2012 dated September 3, 3 September 2012, dengan rincian sebagai berikut: 2012, which details are as follows:

117 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

25. MODAL SAHAM (lanjutan) 25. SHARES CAPITAL (continued) a. Modal Dasar Perusahaan adalah sebesar a. The authorized capital amounting to Rp12.000.000.000 yang terbagi atas Rp12,000,000,000 consists of 12,000,000 12.000.000 saham, dengan nilai nominal shares with par value of Rp1,000,000 (full Rp1.000.000 (nilai penuh) per saham. amount) per share. b. Modal ditempatkan dan disetor menjadi b. Issued and fully paid amounted to sebesar Rp3.188.245.000 atau sebanyak Rp3,188,245,000 or 3,188,245 shares, by 3.188.245 saham, dengan cara penambahan additional paid in capital of to Rp1,388,244,029 penyertaan modal negara Republik Indonesia based on the Government Regulation No.76 sebesar Rp1.388.244.029 sesuai Peraturan Year 2011 and from reserved capital of Rp971. Pemerintah (PP) No.76 Tahun 2011 dan dari cadangan modal sebesar Rp971 . Berdasarkan akta notaris Nanda Fauz lwan, SH, Based on Notarial Deed Nanda Fauz lwan, SH, M.Kn No.02 tanggal 16 Januari 2013 yang telah M.Kn No.02 dated January 16, 2013 which has been disimpan di dalam database Sistem Administrasi stored in the Legal Entity Administration System Badan Hukum dari Kementrian Hukum dan Hak database of the Ministry of Justice and Human Asasi Manusia Republik Indonesia Rights of the Republic of Indonesia No. AHU-AH.01.10-02672 tanggal 31 Januari 2013, No. AHU-AH.01. 10-02672 dated January 31, 2013, Perusahaan menyetujui peningkatan modal disetor the Company approved the increase in paid-up yang diambil dari kapitalisasi sebagian cadangan capital of capitalization partially taken up by the Perusahaan sampai dengan tahun buku 2011 Company reserves the fiscal year 2011 amounted to sejumlah 300.000 saham dengan nilai nominal 300,000 shares with a nominal value of Rp1.000.000 (nilai penuh) sehingga seluruhnya Rp1,000,000 (full amount) so entirely for the whole seharga Rp300.000.000 yang seluruhnya diambil Rp300,000,000 taken from the Republic of bagian oleh Negara Republik Indonesia. Sehingga Indonesia. The issued and paid-up so to Modal ditempatkan dan disetor menjadi sebesar Rp3,488,245.000. Rp3.488.245.000. Pada tanggal 22 September 2015 terjadi perubahan On September 22, 2015 the amendments to the Anggaran Dasar Perusahaan yang dinyatakan Articles of Association of the Company stated in dalam Akta Notaris Julius Purnawan, SH, MSi No. Notarial Deed Julius Purnawan, SH, MSi number 11 11 Pernyataan Keputusan Rapat Umum Pemegang Statement of General Meeting of Shareholders of Saham PT Angkasa Pura I (Persero) tentang PT Angkasa Pura I (Persero) on Paid up Capital Penambahan Modal Disetor dan Perubahan Additions and Amendments of PT Angkasa Pura I Anggaran Dasar PT Angkasa Pura I (Persero). Akta (Persero). This amendment was approved by the perubahan anggaran dasar tersebut telah Ministry of Law and Human Rights Republic of mendapatkan pengesahan dari Kementrian Hukum Indonesia with No.AHU-AH.01.03-0972301 on dan Hak Asasi Manusia Republik Indonesia dengan October 15, 2015. The authorized capital of No.AHU.AH. 01.03-0972301 pada tanggal 15 Rp12,000,000,000 divided into 12,000,000 shares, Oktober 2015. Modal Dasar Perusahaan sebesar with a nominal value of Rp1,000,000 (full amount) Rp12.000.000.000 yang terbagi atas 12.000.000 per share, issued and paid up capital to saham, dengan nilai nominal Rp1.000.000 (Rupiah Rp6,414,412,000 or as much as 6,414,412 shares, penuh) per saham, Modal ditempatkan dan disetor by way of increase in capital of the Republic of menjadi sebesar Rp6.414.412.000 atau sebanyak Indonesia Rp2,926,166,060 as the Government 6.414.412 saham, dengan cara penambahan Regulation (PP) No.8 Year 2014 and from capital penyertaan modal negara Republik Indonesia reserves amounting to Rp940. sebesar Rp2.926.166.060 sesuai Peraturan Pemerintah (PP) No.8 Tahun 2014 dan dari cadangan modal sebesar Rp940.

118 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

25. MODAL SAHAM (lanjutan) 25. SHARES CAPITAL (continued)

Pada tanggal 27 Maret 2019 terjadi perubahan On March 27, 2019 the amendments to the Articles Anggaran Dasar Perusahaan yang dinyatakan of Association of the Company stated in Notarial dalam Akta Notaris Nanda Fauz Iwan, SH, M.Kn No. Deed Nanda Fauz Iwan, SH, M.Kn. No. 55 55 Pernyataan Keputusan Menteri Badan Usaha Statement of Ministry of Stated Own Company of Milik Negara Selaku Rapat Umum Pemegang General Meeting of Shareholders of Saham Perusahaan Perseroan (Persero) PT Angkasa Pura I (Persero). This amendment has PT Angkasa Pura I. Akta perubahan anggaran been acknowledged by the Ministry of Law and dasar tersebut telah diberitahukan kepada Human Rights Republic of Indonesia through Kementerian Hukum dan Hak Asasi Manusia Notification Receipt Letter No.AHU-AH.01.03- Republik Indonesia melalui Surat Penerimaan 0175898 on March 28, 2019. The company shares Pemberitahuan No.AHU-AH.01.03-0175898 pada divided into 2 series. Seri A Dwiwarna that specially tanggal 28 Maret 2019. Saham perusahaan terbagi owned by Goverment of Republic of Indonesia and menjadi Saham Seri A Dwiwarna yang hanya Seri B that can be owned by Government of khusus dimiliki Negara Republik Indonesia dan Seri Republic of Indonesia and/or by public. The B yang dapat dimiliki oleh Negara Republik Company capital of Rp12,000,000,000 divided into: Indonesia dan/atau masyarakat. Modal Dasar Perusahaan sebesar Rp12.000.000.000 terbagi menjadi sebagai berikut:

a. 1 Saham Seri A Dwiwarna dengan nominal a. 1 Seri A Dwiwarna share with a nominal value sebesar Rp1.000.000 (nilai penuh). of Rp1,000,000 (full amount).

b. 11.999.999 Saham Seri B masing-masing b. 11.999.999 Seri B share with nominal value dengan nominal sebesar Rp1.000.000 (nilai each Rp1,000,000 (full amount) or full value off penuh) atau seluruh nya dengan nilai saham share Rp11,999,999,000. Rp11.999.999.000.

Modal ditempatkan dan disetor yang diambil penuh Issued and paid up capital that held by oleh Negara Republik Indonesia sebesar Governmentof Republic of Indonesia as Rp6.414.412.000 terbagi menjadi sebagai berikut : Rp6,414,412,000 divide into :

a. 1 Saham Seri A Dwiwarna dengan nominal a. 1 Seri A Dwiwarna share with a nominal value sebesar Rp1.000.000 (nilai penuh) of Rp1,000,000 (full amount).

b. 6.414.411 Saham Seri B masing-masing a. 6,414,411 Seri B share with nominal value each dengan nominal sebesar Rp1.000.000 (nilai Rp1,000,000 (full amount) or full value of share penuh) atau seluruh nya dengan nilai saham Rp6,414,411,000. Rp6.414.411.000.

26. PENYERTAAN MODAL NEGARA 26. GOVERNMENT CAPITAL INVESTMENT

31 Desember/December 31, 2019 2018 Saldo awal 22.963.207 255.096.706 Beginning balance Pengurangan - (232.133.499) Deduction Total 22.963.207 22.963.207 Total

119 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

26. PENYERTAAN MODAL NEGARA (lanjutan) 26. GOVERNMENT CAPITAL INVESTMENT (continued)

Penambahan penyertaan pada tahun 2016 sebesar Additional investment in 2016 amounted to Rp255.096.706 adalah Penambahan Penyertaan Rp255,096,706 is the addition of the Government Modal Negara yang berasal dari Bantuan Capital Participation derived from Bantuan Pemerintah Yang Belum Ditentukan Statusnya Pemerintah Yang Belum Ditentukan Statusnya (BPYBDS) sesuai Peraturan Pemerintah No.25 (BPYBDS) as the Government Regulation No.25 Tahun 2016 tanggal 27 Juni 2016. Tahun 2016 dated June 27, 2016.

Berdasarkan Peraturan Pemerintah (“PP”) No. 46 Based on the Government Regulation (“PP”) No. 46 Tahun 2018 tanggal 27 September 2018, Tahun 2018 dated September 27, 2018, the Perusahaan menerima pengurangan Penyertaan Company received deduction in capital investment Modal Negara (PMN) Republik Indonesia dengan from the Republic of Indonesia amounting to nilai buku sebesar Rp232.133.499 untuk dijadikan Rp232,133,499 to be made into addition of capital penambahan Penyertaan Modal Negara (PMN) investment to LPPNPI (notes 27). Republik Indonesia kedalam modal Perusahaan Umum LPPNPI (catatan 27).

27. PENGALIHAN ASET TETAP KENAVIGASIAN 27. THE TRANSFER OF NAVIGATION FIXED ASSETS

31 Desember/December 31, 2019 2018

Nilai buku aset tetap kenavigasian (37.004.793) (269.138.292) Book value of navigation fixed assets Koreksi penyerahan aset - 232.133.499 Corrections (37.004.793) (37.004.793)

Akumulasi penyusutan Accumulated depreciations of aset tetap kenavigasian 408.393.524 408.393.524 navigation fixed assets

Pengurangan modal Pemerintah melalui pengalihan Deduction of Government capital by transfer of aset kenavigasian ke LPPNPI berdasarkan surat navigation fixed assets to LPPNPI based on a letter dari Menteri BUMN No.S-46/MBU/2014 tanggal 30 from the Minister of BUMN No.S-46/MBU/2014 Januari 2014 tentang persetujuan pengalihan aset dated January 30, 2014 regarding the approval of tetap kenavigasian kepada Perum LPPNPI dengan the transfer of navigation fixed assets to Perum nilai buku sebesar Rp270.831.524 LPPNPI with the book value of Rp270,831,524.

Pengaruh atas pengalihan aset tetap kenavigasian The effect of the transfer of fixed assets to the kepada Perum LPPNPI, sebagai berikut: Perum LPPNPI as follows:

a. Aset tetap kenavigasian yang telah dijadikan a. Navigation fixed assets that have been used as PMN pada perusahaan diserahkan kembali PMN in the company handed back at book sebesar nilai bukunya yaitu Rp270.831.524, value of Rp270,831,524, in accordance with the sesuai dengan surat Perusahaan Company's letter No.AP.1.6724/PL.07/2013/PD-B tanggal 28 No.AP.1.6724/PL.07/2013/PD-B dated November 2013 perihal revisi usulan November 28, 2013 regarding the proposed pengalihan aset tetap kenavigasian kepada revisions to the transfer of navigation fixed Perum LPPNPI, serta berdasarkan Berita Acara assets to Perum LPPNPI, and based on the Perubahan Nilai Aset yang Diserahterimakan Minutes of the Asset Value Change No.BA. 656/KU.21/2013/PDB tanggal No.BA. 656/KU.21/2013/PD-B dated 30 Desember 2013. December 30, 2013.

120 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

27. PENGALIHAN ASET TETAP KENAVIGASIAN 27. THE TRANSFER OF NAVIGATION FIXED (lanjutan) ASSETS (continued)

Pengaruh atas pengalihan aset tetap kenavigasian The effect of the transfer of fixed assets to the kepada Perum LPPNPI, sebagai berikut: (lanjutan) Perum LPPNPI as follows: (continued)

b. BPYBDS berupa aset tetap kenavigasian yang b. BPYBDS in the form of navigation fixed assets diserahkan kembali kepada pemerintah adalah that are handed back to the govemment is at sebesar nilai perolehan Rp731.281.272 yang cost of Rp731,281,272 consisting of Juanda terdiri dari Bandara Juanda Surabaya sebesar Airport in Surabaya Rp69,306,329, Hasanuddin Rp69.306.329, Bandara Hasanuddin Makassar Airport Makassar Rp26,009,312, Adi Sutjipto Rp26.009.312, Bandara Adi Sutjipto Yogya Airport Yogya Rp17,826 and MATSC Makassar Rp17.826 dan MATSC Makassar Rp635,947,805 with accumulated depreciation Rp635.947.805 dengan akumulasi penyusutan of Rp408,393,524. sebesar Rp408.393.524.

c. Penyesuaian atas aset kenavigasian yang c. Adjustments for transferred navigation assets diserahkan adalah hasil rapat klarifikasi terkait is the result of a clarification meeting related daftar aset hasil penilaian Direktorat Jenderal assets assessment results list Directorate Kekayaan Negara yang diselenggarakan pada General of State Assets held on October 17, tanggal 17 Oktober 2014. Adapun aset yang 2014. The assets of the list submission is dikoreksi dari daftar penyerahan adalah Tanah corrected in Surabaya Land of Rp93,955, land di Surabaya sebesar Rp93.955, tanah di in Kupang Rp377,625 and Makassar MATSC of Kupang Rp377.625 dan MATSC Makassar Rp1,221,652. sebesar Rp1.221.652.

28. PENGGUNAAN SALDO LABA 28. USAGE OF RETAINED EARNINGS

31 Desember/December 31, 2019 2018 Cadangan: Reserve: Saldo awal 6.228.618.258 5.093.757.108 Beginning balance Penambahan 1.545.404.103 1.134.861.150 Addition Saldo Akhir 7.774.022.361 6.228.618.258 End balance

Laba tahun berjalan Current income Laba bersih tahun lalu, tanpa 2.007.018.315 1.418.577.150 Net income of prior year exclude kepentingan non-pengendali non-controlling interest - Pembagian dividen (461.614.212) (283.716.000) Dividend declaired - - Cadangan (1.545.404.103) (1.134.861.150) Reserves -

Laba bersih tahun berjalan 1.451.359.978 2.007.018.315 Net income - current year Total laba tahun berjalan 1.451.359.978 2.007.018.315 Total current income Total saldo laba 9.225.382.339 8.235.636.573 Total retained earning

Berdasarkan Risalah Rapat Umum Pegang Saham Based on Minutes of General Meeting of No. AP.I.3972/KU.01.03/2019/DU-B tanggal Shareholders No. AP.I.3972/KU.01.03/2019/DU-B 20 Mei 2019, pemegang saham Perusahaan setuju dated May 20, 2019, the Company's shareholders untuk membagikan dividen kas sebesar agreed to declare a cash dividend amounting Rp461.614.212 dan menaikkan cadangan umum Rp461,614,212 and raise general reserve for atas saldo laba sebesar Rp1.545.404.103. retained earning amounting Rp1,545,404,103. Perusahaan telah melakukan pembayaran dividen The Company has paid the dividend in 2019. tersebut pada pada tahun 2019.

121 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

28. PENGGUNAAN SALDO LABA (lanjutan) 28. USAGE OF RETAINED EARNINGS (continued)

Berdasarkan Risalah Rapat Umum Pemegang Based on Minutes of General Meeting of Saham No. AP.I.2559/KU.01.03/2018/DU-B tanggal shareholders No. AP.I.2559/KU.01.03/2018/DU-B 24 April 2018, pemegang saham Perusahaan setuju dated April 24, 2018, the Company's shareholders untuk membagikan dividen kas sebesar agreed to declare a cash dividend amounting Rp283.716.000 dan menaikkan cadangan umum Rp283,716,000 and raise general reserve for atas saldo laba sebesar Rp1.134.861.150. retained earning amounting Rp1,134,861,150. The Perusahaan telah melakukan pembayaran dividen Company has paid the dividend as stated above in tersebut di atas pada tahun 2018. 2018.

29. KEPENTINGAN NON-PENGENDALI 29. NON-CONTROLLING INTEREST

Rincian kepentingan non-pengendali atas ekuitas Details of non-controlling interests in the equity and dan bagian atas hasil bersih entitas anak yang net results of consolidated subsidiaries are as dikonsolidasi sebagai berikut: follows:

Nilai Tercatat/Carrying Amounts Kepemilikan/ Ownership (%) 2019 2018

PT Angkasa Pura Logistik 2,00 3.840.523 3.485.904 PT Angkasa Pura Logistik PT Angkasa Pura Suport 0,39 1.298.311 1.261.563 PT Angkasa Pura Suport PT Angkasa Pura Properti 0,04 76.749 75.986 PT Angkasa Pura Properti PT Angkasa Pura Hotel 0,03 282.805 39.983 PT Angkasa Pura Hotel

Total 5.498.388 4.863.436 Total

Pada tahun 2019 dan 2018 Perusahaan mempunyai In 2019 and 2018, the Company has 5 (five) 5 (lima) entitas anak yang dikonsolidasi. Seluruh consolidated subsidiaries. All subsidiaries are entitas anak berkedudukan di Jakarta sebagai domiciled in Jakarta as their head office. kantor pusatnya.

30. PENDAPATAN USAHA 30. OPERATING REVENUES

Rincian pendapatan usaha adalah sebagai berikut: The details of operating revenues are as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018

Aeronautika Aeronautical PJP4U (Pelayanan Jasa Pendaratan PJP4U (Aircraft Landing, Penempatan dan Penyimpanan Placing and Storing Pesawat Udara) Services) Domestik 190.945.248 181.821.821 Domestic Internasional 701.932.306 538.306.430 International

Sub-total 892.877.554 720.128.251 Subtotal PJP2U (Pelayanan Jasa PJP2U (Aircraft Penumpang Pesawat Udara) Passenger Services) Domestik 1.799.521.581 2.240.972.821 Domestic Internasional 1.735.438.021 1.608.774.099 International

Sub-total 3.534.959.602 3.849.746.920 Subtotal

122 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

30. PENDAPATAN USAHA (lanjutan) 30. OPERATING REVENUES (continued)

Rincian pendapatan usaha adalah sebagai berikut: The details of operating revenues are as follows: (lanjutan) (continued)

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,

2019 2018 Aeronautika Aeronautical Aviobridge Aviobridge Domestik 82.514.142 74.333.650 Domestic Internasional 150.586.727 104.168.213 International

Sub-total 233.100.869 178.501.863 Subtotal Pemakaian counter dan conveyor Use of counters and conveyor Domestik 61.749.003 67.047.400 Domestic Internasional 88.119.722 67.954.877 International

Sub-total 149.868.725 135.002.277 Subtotal Pendapatan Baggage Handling System (BHS) Baggage Handling System (BHS) Internasional 5.280 9.796.840 International

Sub-total 5.280 9.796.840 Subtotal

PJKP2U (Pelayanan Jasa Kargo dan PJKP2U (Cargo Services Pos Pesawat Udara) and Aircraft Postal Services) Domestik 109.422.799 154.747.909 Domestic Internasional 55.701.259 65.724.286 International Sub-total 165.124.058 220.472.195 Subtotal Total pendapatan aeronautika 4.975.936.088 5.113.648.346 Total aeronautical revenue

Non-aeronautika Non-aeronautical Pemakaian sarana non-aeronautika Use of non-aeronautical facilities Parkir kendaraan 302.473.601 321.706.201 Parkir lots Listrik 70.256.092 76.644.660 Electricity Reklame 23.739.572 23.312.833 Advertising Air 6.750.327 7.262.393 Water Telepon 5.808.171 6.833.294 Telephone Layanan data 5.984.661 6.786.390 Data services Pas bandara 5.480.032 4.890.876 Airport pass

Sub-total 420.492.456 447.436.647 Subtotal Pendapatan sewa Rentals revenues Sewa ruang 579.982.044 525.075.808 Rent rooms Sewa peralatan 88.425.593 78.724.086 Rent equipments Sewa tanah 68.338.321 62.816.234 Rent lands Sewa kendaraan 13.089.279 17.076.131 Rent vehicles Sewa penggunaan hak atas tanah 6.317.272 5.537.855 Rent use of land rights Sewa antena 3.647.007 4.497.969 Rent antena Sewa tempat 464.609 1.709.988 Rent spaces Lain-lain 1.271.205 1.035.360 Others Sub-total 761.535.330 696.473.431 Sub total

123 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

30. PENDAPATAN USAHA (lanjutan) 30. OPERATING REVENUES (continued)

Rincian pendapatan usaha adalah sebagai berikut: The details of operating revenues are as follows: (lanjutan) (continued)

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,

2019 2018 Pemakaian ruang tunggu 138.296.643 211.332.198 Use of lounge Pendapatan konsesi 1.707.521.693 1.554.211.200 Consessions revenues Event dan promosi 37.636.364 31.267.755 Event and promotion Pergudangan & logistik Warehousing & logistics Domestik 188.479.330 147.512.297 Domestic Internasional 70.771.313 33.810.826 International Jasa Agen Regulasi 36.646.769 47.850.402 Regulatory Agent services Sub-total 295.897.412 229.173.525 Subtotal

Jasa pemeliharaan dan perbaikan 88.756.461 82.402.681 Maintenance and services Jasa lainnya 205.473.155 155.141.527 Other services Total pendapatan non-aeronautika 3.655.609.514 3.407.438.964 Total non-aeronautical revenues

Total 8.631.545.602 8.521.087.310 Total

Jumlah pendapatan usaha yang berasal dari pihak The amounts of operating revenues with details berelasi dan pihak ketiga sebagai berikut: above consists of related parties and third parties as follows:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 Pihak Berelasi 1.007.445.001 1.491.665.980 Related Parties Pihak Ketiga 7.624.100.601 7.029.421.330 Third Parties

Total 8.631.545.602 8.521.087.310 Total

Kelompok Usaha memiliki pendapatan dari suatu The Group has revenues from certain party with total pihak tertentu yang nilainya sama atau lebih besar amount equivalent with or exceeding 10% of its dari 10% dari total pendapatan konsolidasiannya consolidated revenues from PT Garuda Indonesia yaitu dari PT Garuda Indonesia (Persero) Tbk dan (Persero) Tbk and PT Lion Mentari Airlines. PT Lion Mentari Airlines.

124 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31. BEBAN PEGAWAI 31. EMPLOYEE EXPENSES

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018

Tunjangan operasional 843.143.667 762.977.513 Operational allowance Bonus 366.315.352 441.462.245 Bonus Gaji dan upah 244.460.409 225.492.385 Wages & salaries Pengobatan 87.941.966 66.739.038 Medicals and doctors Lembur 20.430.604 20.929.867 Overtime Pakaian seragam 13.985.833 21.858.615 Employee uniform Lain-lain 14.389.501 14.416.295 Others Total 1.590.667.332 1.553.875.958 Total

32. BEBAN OPERASIONAL BANDARA 32. AIRPORT OPERATION EXPENSES

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018 Penyusutan dan amortisasi 1.124.491.016 1.022.809.080 Depreciation and amortization Jasa alih daya 584.364.124 587.375.721 Outsourcing Utilitas 358.545.903 344.727.063 Utilities Pemeliharaan 294.251.833 333.522.413 Maintenance Sewa 208.619.330 175.728.560 Rent Jasa pelayanan penumpang 214.980.552 178.763.577 Passenger services Jasa kebersihan bandara 180.912.703 178.992.905 Airport cleaning services Pembelian tiket dan hotel 72.973.396 66.001.496 Purchase of ticket and hotel Pemakaian persedian makanan Usage of inventories of dan minuman 56.439.294 36.977.541 food and beverages Penerimaan Negara Bukan Pajak 47.555.983 137.243.397 Non-Tax State Revenue Pembelian dan pemakaian persediaan 43.011.741 14.350.809 Purchase and usage of inventories Konstruksi 16.944.313 8.937.570 Construction Lainnya 77.096.836 66.570.931 Other Total 3.280.187.024 3.152.001.063 Total

125 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

33. BEBAN UMUM DAN ADMINISTRASI 33. GENERAL ADMINISTRATIVE EXPENSES

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018 Pajak 223.031.421 239.474.716 Taxes Pejabat nonpegawai 213.387.884 210.529.264 Non-employee officer expense Pemakaian persediaan 102.397.057 62.561.098 Usage of inventories Imbalan kerja karyawan 93.073.582 112.461.106 Employee benefits Jasa profesional dan konsultan 77.805.414 65.246.130 Professional service and consultant Perjalanan dinas 66.561.132 69.895.284 Business travel Rapat dinas 49.338.477 53.215.444 Meeting expense Pendidikan dan pelatihan 43.834.835 42.557.434 Education and training Makanan dan minuman 27.109.529 32.417.153 Food and beverage Tenaga pendukung administrasi 24.565.105 2.525.687 Outsourcing administration Asuransi 23.394.980 12.756.070 Insurance Penurunan nilai piutang 20.054.530 44.893.804 Impairment of receivable Aset dibiayakan 19.135.335 23.739.935 Low value asset Olahraga 6.797.315 5.371.739 Sport Lainnya 39.865.622 42.789.355 Others

Total 1.030.352.218 1.020.434.219 Total

34. PENGHASILAN LAIN-LAIN 34. OTHER INCOME

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,

2019 2018 Penyesuaian pembayaran tantiem 52.000.000 - Tantiem settlement adjustment Pembayaran piutang yang Recovery of allowance for telah disisihkan 15.075.219 48.444.328 impairment of receivables Denda 15.061.196 5.361.963 Penalty Pembatalan beban akrual Reverse of accrued expense atas gugatan hukum (Catatan 43) 6.551.559 85.334.939 for civil suit (Note 43) Lelang 3.262.083 3.450.163 Auction Keuntungan dari aset tetap 1.086.048 6.269.279 Gain on fixed asset Klaim asuransi - 11.402.624 Insurance claim Laba selisih kurs, neto - 55.365.861 Gain on foreign exchange, net Lainnya 34.220.953 3.575.152 Others

Total 127.257.058 219.204.309 Total

126 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

35. BEBAN LAIN-LAIN 35. OTHER EXPENSE

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018

Beban PKBL 51.468.405 40.699.312 PKBL expenses Rugi selisih kurs, neto 28.952.466 - Loss on foreign exchange, net Kerugian penghapusan aset tetap 5.099.102 4.690.083 Loss on retirement of fixed assets Sumbangan 1.640.222 2.648.917 Donation Lelang 1.653.895 2.351.273 Auction Lain-lain 13.978.968 10.460.785 Other

Total 102.793.058 60.850.370 Total

36. PENGHASILAN KEUANGAN 36. FINANCE INCOME

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2019 2018

Bunga deposito 159.922.623 136.014.317 Deposit interest Jasa giro 21.291.949 21.921.859 Current account Bunga obligasi dan reksa dana 17.111.972 10.912.952 Bond & mutual fund interest

Total 198.326.544 168.849.128 Total

37. BEBAN KEUANGAN 37. FINANCE COSTS

Akun ini terdiri dari: This account consists of the following:

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,

2019 2018 Bunga pinjaman bank dan obligasi 857.007.177 262.568.530 Bank loans and bonds interest Beban administrasi bank 3.262.757 2.565.631 Bank administration charges

Total 860.269.934 265.134.161 Total

127 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

38. ASET KEUANGAN DALAM MATA UANG ASING 38. FINANCIAL ASSETS DENOMINATED IN FOREIGN CURRENCY

31 Desember/December 2019 31 Desember/December 2018

Mata uang Setara dalam Mata uang Setara dalam asing/foreign rupiah/In asing/foreign rupiah/In currency USD rupiah Rp currency USD rupiah Rp

ASET ASSETS Kas dan setara kas 45.688.128 635.110.669 58.032.245 840.364.938 Cash & cash equivalents Piutang usaha 6.440.984 89.536.122 3.535.070 51.191.352 Trade Receivables

Total 52.129.112 724.646.791 61.567.315 891.556.290 Total

LIABILITAS LIABILITIES Utang usaha 4.656.163 64.725.318 2.137.545 30.953.784 Trade Payables

Aset moneter bersih 4.656.163 64.725.318 2.137.545 30.953.784 Net monetary assets

Aset dan liabilitas keuangan di atas dijabarkan Financial assets and liabilities mentioned above are menggunakan kurs tengah Bank Indonesia tanggal translated using the Bank Indonesia middle rate as 31 Desember 2019 dan 2018. at 31 December 2019 and 2018.

39. TRANSAKSI NON-KAS 39. NON-CASH TRANSACTIONS

Informasi pendukung laporan arus kas Supplementary information to the consolidated konsolidasian sehubungan dengan aktivitas non- statements of cash flow relating to non-cash kas sebagai berikut: activities is as follows:

31 Desember/December 31, 2019 2018

Kapitalisasi biaya pinjaman Capitalization of ke aset tetap 286.653.622 320.056.625 borrowing costs

Perubahan pada liabilitas yang timbul dari aktivitas Movement of liabilities arising from financing pendanaan pada laporan arus kas konsolidasian activities in the consolidated statement of cash flows adalah sebagai berikut : are as follows:

Non-arus kas/Non-cash flow Selisih kurs/ 1 Januari 2019/ Arus kas/ Foreign exchange Lainnya/ 31 Desember 2019/ January 1, 2019 Cash flow difference Other December 31, 2019

Pinjaman bank jangka panjang 6.327.995.013 10.970.851.262 - (35.662.231) 17.263.184.044 Long-term bank loans Pinjaman bank jangka pendek 105.631.070 52.379.600 - - 158.010.670 Short-term bank loans Obligasi dan sukuk ijarah 2.993.700.828 - - 1.195.495 2.994.896.323 Bonds payable and sukuk ijarah

Total 9.427.326.911 11.023.230.862 - (34.466.736) 20.416.091.037 Total

Non-arus kas/Non-cash flow Selisih kurs/ 1 Januari 2018/ Arus kas/ Foreign exchange Lainnya/ 31 Desember 2018/ January 1, 2018 Cash flow difference Other December 31, 2018

Pinjaman bank jangka panjang 4.308.921.739 2.056.782.957 - (37.709.683) 6.327.995.013 Long-term bank loans Pinjaman bank jangka pendek 77.711.102 27.919.968 - - 105.631.070 Short-term bank loans Obligasi dan sukuk ijarah 2.992.474.960 - - 1.225.868 2.993.700.828 Bonds payable and sukuk ijarah

Total 7.379.107.801 2.084.702.925 - (36.483.815) 9.427.326.911 Total

128 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

40. TRANSAKSI DENGAN PIHAK BERELASI 40. TRANSACTION WITH RELATED PARTIES Sifat hubungan dan jenis transaksi dengan pihak The nature of relationships and transactions with berelasi adalah sebagai berikut: related parties are as follows: a. Sifat Hubungan Berelasi a. Nature of Relationship

1. Pemegang Saham/Shareholder Pemerintah Republik Indonesia/ The Government of The Republic of Indonesia 2. Entitas yang berelasi dengan Pemerintah/ Government related entities - PT Bank Mandiri (Persero) Tbk - PT Bank Rakyat Indonesia (Persero) Tbk - PT Bank Negara Indonesia 1946 (Persero) Tbk - PT Bank Tabungan Negara - PT Bank Syariah Mandiri - PT Bank BRI Syariah - PT Bank BNI Syariah - PT Garuda Indonesia (Persero) Tbk - PT Pertamina (Persero) - PT Perusahaan Listrik Negara (Persero) - PT Telekomunikasi Indonesia (Persero) Tbk - PT Asuransi Jasa Indonesia (Persero) - Perusahaan Umum (Perum) Lembaga Penyelenggara Pelayanan Navigasi Penerbangan Indonesia (LPPNPI) - Perusahaan Badan Usaha Milik Negara (BUMN) lainnya/Other Stated Owners Enterprise (BUMN) 3.Entitas Anak/Subsidiaries - PT Angkasa Pura Suport (APS) - PT Angkasa Pura Hotel (APH) - PT Angkasa Pura Logistik (APL) - PT Angkasa Pura Properti (APP) - PT Angkasa Pura Retail (APR) 4.Entitas Asosiasi/Associated entities - PT Gapura Angkasa - Penyertaan Saham/ Investment in Shares - PT Jasa Marga Bali Tol - Penyertaan Saham/ Investment in Shares 5.Imbalan kerja/ Employee benefits plan - Dana Pensiun Angkasa Pura (Dapenra)

6.Personil, manajemen kunci/Personnels, - Direksi/Directors key management - Komisaris/Board of Comissionares

b. Transaksi dengan Pihak Berelasi b. Transaction with Related Parties

Dalam kegiatan usahanya, Perusahaan dan In the normal course of business, the Company entitas anak melakukan transaksi tertentu and its subsidiaries entered into transactions with dengan pihak berelasi. related parties.

Rincian akun signifikan dengan pihak-pihak Details of significant accounts with related parties berelasi (pemerintah, entitas pemerintah atau (government, owned entities unless otherwise dinyatakan lain) sebagai berikut: stated) are as follows:

31 Desember/December 31, 2019 2018 Aset Assets Kas dan setara kas 2.439.450.313 1.659.250.693 Cash and cash equivalents Investasi jangka pendek 157.630.092 62.030.398 Short-term invesment Piutang usaha 138.453.120 90.334.042 Trade receivables Investasi jangka panjang 99.749.084 100.662.312 Long term Investments

Total 2.835.282.609 1.912.277.445 Total

129 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

40. TRANSAKSI DENGAN PIHAK BERELASI 40. TRANSACTION WITH RELATED PARTIES (lanjutan) (continued)

b. Transaksi dengan pihak berelasi (lanjutan) b. Transaction with related parties (continued)

Rincian akun signifikan dengan pihak-pihak Details of significant accounts with related berelasi (pemerintah, entitas pemerintah atau parties (government, owned entities unless dinyatakan lain) sebagai berikut: (lanjutan) otherwise stated) are as follows: (continued)

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Persentase dari total aset 6,63% 6,04% Percentage of total assets

Liabilitas Liabilities Utang usaha 59.820.083 101.718.709 Trade payable Long term bank loans & Utang bank dan pinjaman sindikasi 14.918.352.118 5.600.414.977 syndicated loan Utang lancar lain lain 99.967.076 1.371.998.743 Other current liabilities 15.078.139.277 7.074.132.429

Persentase dari total liabilitas 56% 43% Percentage of total liabilities

41. INFORMASI SEGMEN OPERASI 41. OPERATION SEGMENT INFORMATION

Informasi segmen operasi sebagai berikut: Operation segment information is as follows:

31 Desember/December 31, 2019

Aeronautika/ Non-aeronautika/ Jumlah/ Eliminasi/ Konsolidasian/ Aeronautica Non-aeronautica Total Elimination Consolidated

PENDAPATAN USAHA OPERATING REVENUES Kantor Pusat - 8.142.768 8.142.768 (1.445.223) 6.697.545 Head Office Bandara Adi Sucipto 187.649.936 105.736.456 293.386.392 (52.071.829) 241.314.563 Adi Sucipto Airport Bandara Adi Soemarmo 56.613.541 31.900.438 88.513.979 (15.709.948) 72.804.031 Adi Soemarmo Airport Bandara Ahmad Yani 129.219.800 72.812.408 202.032.208 (35.857.786) 166.174.422 Ahmad Yani Airport Bandara Juanda 825.980.125 465.420.946 1.291.401.071 (229.204.959) 1.062.196.112 Juanda Airport Bandara Syamsudin Noor 89.659.877 50.521.294 140.181.171 (24.880.125) 115.301.046 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 243.785.296 137.367.450 381.152.746 (67.649.084) 313.503.662 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 1.886.853.957 1.063.199.134 2.950.053.091 (523.591.635) 2.426.461.456 I Gusti Ngurah Rai Airport Bandara Praya 94.473.600 53.233.717 147.707.317 (26.215.906) 121.491.411 Praya Airport Bandara El Tari 37.130.847 20.922.385 58.053.232 (10.303.607) 47.749.625 El Tari Airport Bandara Sultan Hassanudin 314.806.177 177.386.095 492.192.272 (87.356.989) 404.835.283 Sultan Hassanudin Airport Bandara Sam Ratulangi 99.555.212 56.097.089 155.652.301 (27.626.026) 128.026.275 Sam Ratulangi Airport Bandara Pattimura 29.113.234 16.404.643 45.517.877 (8.078.763) 37.439.114 Pattimura Airport Bandara Frans Kaisiepo 8.743.795 4.926.929 13.670.724 (2.426.355) 11.244.369 Frans Kaisiepo Airport Strategic Business Unit DPS - 1.544.316.316 1.544.316.316 (274.093.747) 1.270.222.569 Strategic Business Unit DPS Bandara Internasional Yogyakarta 9.448.261 5.323.879 14.772.140 (2.621.841) 12.150.299 Yogyakarta International Airport Anak Perusahaan Subsidiaries Angkasa Pura Logistik - 386.002.860 386.002.860 (68.509.909) 317.492.951 Angkasa Pura Logistik Angkasa Pura Properti - 243.204.092 243.204.092 (43.165.199) 200.038.893 Angkasa Pura Properti Angkasa Pura Hotel - 407.108.651 407.108.651 (72.255.881) 334.852.770 Angkasa Pura Hotel Angkasa Pura Suport - 1.524.722.211 1.524.722.211 (270.616.077) 1.254.106.134 Angkasa Pura Suport Angkasa Pura Retail - 106.311.891 106.311.891 (18.868.819) 87.443.072 Angkasa Pura Retail

Total pendapatan usaha 4.013.033.658 6.481.061.652 10.494.095.310 1.862.549.708 8.631.545.602 Total operating revenue

130 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

41. INFORMASI SEGMEN OPERASI (lanjutan) 41. OPERATION SEGMENT INFORMATION (continued)

Informasi segmen operasi sebagai berikut: Operation segment information is as follows: (lanjutan) (continued)

31 Desember/December 31, 2019

Aeronautika/ Non-aeronautika/ Jumlah/ Eliminasi/ Konsolidasian/ Aeronautica Non-aeronautica Total Elimination Consolidated

BEBAN USAHA OPERATING EXPENSES Kantor Pusat - 1.191.457.093 1.191.457.093 (278.672.877) 912.784.216 Head Office Bandara Adi Sucipto 120.509.093 67.904.123 188.413.216 (42.933.973) 145.479.243 Adi Sucipto Airport Bandara Adi Soemarmo 77.890.271 43.889.390 121.779.661 (27.750.097) 94.029.564 Adi Soemarmo Airport Bandara Ahmad Yani 199.237.459 112.265.760 311.503.219 (70.982.660) 240.520.559 Ahmad Yani Airport Bandara Juanda 431.897.616 243.364.448 675.262.064 (153.872.880) 521.389.184 Juanda Airport Bandara Syamsudin Noor 85.495.326 48.174.665 133.669.991 (30.459.562) 103.210.429 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 274.930.504 154.917.063 429.847.567 (97.949.945) 331.897.622 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 681.048.526 383.755.298 1.064.803.824 (242.638.287) 822.165.537 I Gusti Ngurah Rai Airport Bandara Praya 123.552.801 69.619.183 193.171.984 (44.018.361) 149.153.623 Praya Airport Bandara El Tari 51.159.798 28.827.379 79.987.177 (18.226.786) 61.760.391 El Tari Airport Bandara Sultan Hassanudin 252.991.032 142.554.672 395.545.704 (90.133.534) 305.412.170 Sultan Hassanudin Airport Bandara Sam Ratulangi 100.207.642 56.464.719 156.672.361 (35.701.143) 120.971.218 Sam Ratulangi Airport Bandara Pattimura 55.046.845 31.017.640 86.064.485 (19.611.631) 66.452.854 Pattimura Airport Bandara Frans Kaisiepo 34.255.139 19.301.989 53.557.128 (12.204.136) 41.352.992 Frans Kaisiepo Airport Strategic Business Unit DPS 58.624.137 33.033.363 91.657.500 (20.886.118) 70.771.382 Strategic Business Unit DPS Bandara Internasional Yogyakarta 35.783.148 20.162.987 55.946.135 (12.748.522) 43.197.613 Yogyakarta International Airport Anak Perusahaan Subsidiaries Angkasa Pura Logistik - 348.988.389 348.988.389 (79.524.456) 269.463.933 Angkasa Pura Logistik Angkasa Pura Properti - 227.534.451 227.534.451 (51.848.583) 175.685.868 Angkasa Pura Properti Angkasa Pura Hotel - 395.163.377 395.163.377 (90.046.413) 305.116.964 Angkasa Pura Hotel Angkasa Pura Suport - 1.358.694.174 1.358.694.174 (309.607.478) 1.049.086.696 Angkasa Pura Suport Angkasa Pura Retail - 99.052.650 99.052.650 (22.571.261) 76.481.389 Angkasa Pura Retail

Total beban usaha 2.582.629.337 5.076.142.813 7.658.772.150 (1.752.388.703) 5.906.383.447 Total operating expenses

LABA USAHA 1.430.404.321 1.404.918.839 2.835.323.160 (110.161.005) 2.725.162.155 OPERATING INCOME

PENDAPATAN (BEBAN) NON OPERATING REVENUE NON USAHA (EXPENSE) Kantor Pusat - (646.377.960) (646.377.960 ) - (646.377.960) Head Office Bandara Adi Sucipto 24.147 13.605 37.752 - 37.752 Adi Sucipto Airport Bandara Adi Soemarmo 19.159 10.796 29.955 - 29.955 Adi Soemarmo Airport Bandara Ahmad Yani 23.471 13.225 36.696 - 36.696 Ahmad Yani Airport Bandara Juanda 73.815 41.593 115.408 - 115.408 Juanda Airport Bandara Syamsudin Noor 45.885 25.855 71.740 - 71.740 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 59.667 33.621 93.288 - 93.288 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 568.224 320.181 888.405 - 888.405 I Gusti Ngurah Rai Airport Bandara Praya 100.805 56.802 157.607 - 157.607 Praya Airport Bandara El Tari 22.672 12.775 35.447 - 35.447 El Tari Airport Bandara Sultan Hassanudin 177.304 99.906 277.210 - 277.210 Sultan Hassanudin Airport Bandara Sam Ratulangi 68.939 38.845 107.784 - 107.784 Sam Ratulangi Airport Bandara Pattimura 23.622 13.311 36.933 - 36.933 Pattimura Airport Bandara Frans Kaisiepo 12.832 7.230 20.062 - 20.062 Frans Kaisiepo Airport Strategic Business Unit DPS 86.343 48.652 134.995 - 134.995 Strategic Business Unit DPS Bandara Internasional Yogyakarta 9.671 5.450 15.121 - 15.121 Yogyakarta International Airport Entitas anak Subsidiaries Angkasa Pura Logistik - 1.035.538 1.035.538 - 1.035.538 Angkasa Pura Logistik Angkasa Pura Properti - (4.879.222) (4.879.222 ) - (4.879.222) Angkasa Pura Properti Angkasa Pura Hotel - 2.745.325 2.745.325 - 2.745.325 Angkasa Pura Hotel Angkasa Pura Suport - (18.198.748) (18.198.748 ) - (18.198.748) Angkasa Pura Suport Angkasa Pura Retail - 1.673.274 1.673.274 - 1.673.274 Angkasa Pura Retail

Total pendapatan Total non operating (beban) non usaha 1.316.556 (663.259.946) (661.943.390) - (661.943.390) revenue (expense)

Laba rugi entitas asosiasi - (8.952.137) (8.952.137) - (8.952.137) Income (loss) associates

Laba sebelum pajak 1.431.720.877 732.706.756 2.164.427.633 (110.161.005) 2.054.266.628 Income before tax

Pajak final - - (109.731.383) - (109.731.383) Final tax expense Pajak penghasilan badan - - (492.308.079) - (492.308.079) Corporate income taxes

Laba tahun berjalan 1.431.720.877 701.224.352 1.562.388.171 (110.161.005) 1.452.227.166 Profit for the year

Laba diatribusikan kepada: Income attributable to: Pemilik entitas induk - - - - 1.451.359.978 The owner of parent entity Kepentingan non pengendali - - - - 867.188 Non controlling interest

TOTAL LABA TAHUN BERJALAN 1.431.720.877 701.224.352 1.562.388.171 (110.161.007) 1.452.227.166 TOTAL PROFIT FOR THE YEAR

131 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

41. INFORMASI SEGMEN OPERASI (lanjutan) 41. OPERATION SEGMENT INFORMATION (continued)

Informasi segmen operasi sebagai berikut: Operation segment information is as follows: (lanjutan) (continued)

31 Desember/December 31, 2019

Kebandaraan/ Non-bandara/ Jumlah/ Eliminasi/ Konsolidasian/ Airport Non-airport Total Elimination Consolidated

ASET ASSET Kantor Pusat - 16.232.643.942 16.232.643.942 (732.449.752) 15.500.194.190 Head Office Bandara Adi Sucipto 223.775.837 126.092.576 349.868.413 (15.786.771) 334.081.642 Adi Sucipto Airport Bandara Adi Soemarmo 367.514.064 207.085.786 574.599.850 (25.927.108) 548.672.742 Adi Soemarmo Airport Bandara Ahmad Yani 1.533.065.565 863.847.451 2.396.913.016 (108.153.566) 2.288.759.450 Ahmad Yani Airport Bandara Juanda 1.652.506.990 931.149.967 2.583.656.957 (116.579.832) 2.467.077.125 Juanda Airport Bandara Syamsudin Noor 447.437.120 252.120.604 699.557.724 (31.565.461) 667.992.263 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 1.248.623.456 703.570.815 1.952.194.271 (88.086.957) 1.864.107.314 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 3.745.427.959 2.110.463.159 5.855.891.118 (264.229.660) 5.591.661.458 I Gusti Ngurah Rai Airport Bandara Praya 771.282.396 434.600.024 1.205.882.420 (54.411.856) 1.151.470.564 Praya Airport Bandara El Tari 267.817.992 150.909.325 418.727.317 (18.893.824) 399.833.493 El Tari Airport Bandara Sultan Hassanudin 2.260.621.905 1.273.808.841 3.534.430.746 (159.480.669) 3.374.950.077 Sultan Hassanudin Airport Bandara Sam Ratulangi 341.284.832 192.306.212 533.591.044 (24.076.708) 509.514.336 Sam Ratulangi Airport Bandara Pattimura 231.153.024 130.249.452 361.402.476 (16.307.211) 345.095.265 Pattimura Airport Bandara Frans Kaisiepo 146.922.617 82.787.541 229.710.158 (10.364.987) 219.345.171 Frans Kaisiepo Airport Strategic Business Unit DPS 176.950.178 99.707.386 276.657.564 (12.483.348) 264.174.216 Strategic Business Unit DPS Bandara Internasional Yogyakarta 2.903.345.621 1.635.968.984 4.539.314.605 (204.823.063) 4.334.491.542 International Yogyakarta Airport Entitas anak Subsidiaries Angkasa Pura Logistik 302.928.238 - 302.928.238 (13.668.735) 289.259.503 Angkasa Pura Logistik Angkasa Pura Properti 537.395.635 - 537.395.635 (24.248.379) 513.147.256 Angkasa Pura Properti Angkasa Pura Hotel 738.816.758 - 738.816.758 (33.336.908) 705.479.850 Angkasa Pura Hotel Angkasa Pura Suport 1.393.988.229 - 1.393.988.229 (62.899.571) 1.331.088.658 Angkasa Pura Suport Angkasa Pura Retail 90.226.172 - 90.226.172 (4.071.188) 86.154.984 Angkasa Pura Retail

Total aset 19.381.084.588 25.427.312.065 44.808.396.653 (2.021.845.554) 42.786.551.099 Total asset

LIABILITAS LIABILITIES Kantor Pusat - 23.774.362.062 23.774.362.062 (576.537.172) 23.197.824.890 Head Office Bandara Adi Sucipto 29.896.978 16.846.265 46.743.243 (1.133.541) 45.609.702 Adi Sucipto Airport Bandara Adi Soemarmo 30.660.235 17.276.342 47.936.577 (1.162.480) 46.774.097 Adi Soemarmo Airport Bandara Ahmad Yani 47.236.091 26.616.459 73.852.550 (1.790.952) 72.061.598 Ahmad Yani Airport Bandara Juanda 310.275.899 174.833.387 485.109.286 (11.764.082) 473.345.204 Juanda Airport Bandara Syamsudin Noor 35.978.809 20.273.237 56.252.046 (1.364.133) 54.887.913 Syamsudin Noor Airport Bandara Sultan Aji M. Sulaiman 52.153.788 29.387.469 81.541.257 (1.977.406) 79.563.851 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 334.173.710 188.299.257 522.472.967 (12.670.165) 509.802.802 I Gusti Ngurah Rai Airport Bandara Praya 38.721.803 21.818.852 60.540.655 (1.468.134) 59.072.521 Praya Airport Bandara El Tari 60.599.005 34.146.156 94.745.161 (2.297.606) 92.447.555 El Tari Airport Bandara Sultan Hassanudin 88.519.493 49.878.714 138.398.207 (3.356.208) 135.041.999 Sultan Hassanudin Airport Bandara Sam Ratulangi 36.909.552 20.797.690 57.707.242 (1.399.422) 56.307.820 Sam Ratulangi Airport Bandara Pattimura 34.995.920 19.719.402 54.715.322 (1.326.867) 53.388.455 Pattimura Airport Bandara Frans Kaisiepo 28.892.600 16.280.321 45.172.921 (1.095.460) 44.077.461 Frans Kaisiepo Airport Strategic Business Unit DPS 410.545.069 231.332.775 641.877.844 (15.565.778) 626.312.066 Strategic Business Unit DPS Bandara Internasional Yogyakarta 12.797.952 7.211.354 20.009.306 (485.233) 19.524.073 International Yogyakarta Airport Entitas anak Subsidiaries Angkasa Pura Logistik - 110.902.068 110.902.068 (2.689.417) 108.212.651 Angkasa Pura Logistik Angkasa Pura Properti - 333.024.240 333.024.240 (8.075.962) 324.948.278 Angkasa Pura Properti Angkasa Pura Hotel - 83.539.139 83.539.139 (2.025.855) 81.513.284 Angkasa Pura Hotel Angkasa Pura Suport - 712.818.144 712.818.144 (17.286.107) 695.532.037 Angkasa Pura Suport Angkasa Pura Retail - 30.535.492 30.535.492 (740.497) 29.794.995 Angkasa Pura Retail

Total liabilitas 1.552.356.904 25.919.898.825 27.472.255.729 (666.212.477) 26.806.043.252 Total liabilities

132 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

41. INFORMASI SEGMEN OPERASI (lanjutan) 41. OPERATION SEGMENT INFORMATION (continued)

Informasi segmen operasi sebagai berikut: Operation segment information is as follows: (lanjutan) (continued)

31 Desember/December 31, 2018

Aeronautika/ Non-aeronautika/ Jumlah/ Eliminasi/ Konsolidasian/ Aeronautica Non-aeronautica Total Elimination Consolidated

PENDAPATAN USAHA OPERATING REVENUES Kantor Pusat - 8.264.380 8.264.380 - 8.264.380 Head Office Bandara Adi Sucipto 241.731.642 93.274.730 335.006.372 (5.766.185) 329.240.187 Adi Sucipto Airport Bandara Adi Soemarmo 81.597.302 23.802.610 105.399.912 (4.302.337) 101.097.575 Adi Soemarmo Airport Bandara Ahmad Yani 156.454.765 54.947.864 211.402.629 (5.302.976) 206.099.653 Ahmad Yani Airport Bandara Juanda 1.080.990.135 336.478.944 1.417.469.079 (17.861.366) 1.399.607.713 Juanda Airport Bandara Syamsudin Noor 110.776.413 44.388.786 155.165.199 (2.386.668) 152.778.531 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 339.229.214 141.099.381 480.328.595 (7.645.528) 472.683.067 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 2.406.878.208 254.344.709 2.661.222.917 (7.181.871) 2.654.041.046 I Gusti Ngurah Rai Airport Bandara Praya 124.159.464 39.568.954 163.728.418 (3.379.979) 160.348.439 Praya Airport Bandara El Tari 45.789.802 19.247.060 65.036.862 (500.902) 64.535.960 El Tari Airport Bandara Sultan Hassanudin 365.012.368 181.299.923 546.312.291 (38.705.968) 507.606.323 Sultan Hassanudin Airport Bandara Sam Ratulangi 113.428.444 50.652.750 164.081.194 (1.397.691) 162.683.503 Sam Ratulangi Airport Bandara Pattimura 43.050.449 14.996.774 58.047.223 (1.160.673) 56.886.550 Pattimura Airport Bandara Frans Kaisiepo 9.084.552 7.023.234 16.107.786 (592.811) 15.514.975 Frans Kaisiepo Airport Strategic Business Unit DPS - 1.296.731.782 1.296.731.782 (14.681.026) 1.282.050.756 Strategic Business Unit DPS Anak Perusahaan Subsidiaries Angkasa Pura Logistik - 359.093.907 359.093.907 (129.403.275) 229.690.632 Angkasa Pura Logistik Angkasa Pura Property - 449.320.035 449.320.035 (432.977.024) 16.343.011 Angkasa Pura Property Angkasa Pura Hotel - 395.495.122 395.495.122 (70.080.742) 325.414.380 Angkasa Pura Hotel Angkasa Pura Suport - 1.239.285.471 1.239.285.471 (952.178.700) 287.106.771 Angkasa Pura Suport Angkasa Pura Retail - 89.796.843 89.796.843 (702.985) 89.093.858 Angkasa Pura Retail

Total pendapatan usaha 5.118.182.758 5.099.113.259 10.217.296.017 (1.696.208.707) 8.521.087.310 Total operating revenue

BEBAN USAHA OPERATING EXPENSES Kantor Pusat - 1.222.064.639 1.222.064.639 (45.098.428) 1.176.966.211 Head Office Bandara Adi Sucipto 136.277.539 37.790.080 174.067.619 (64.164.524) 109.903.095 Adi Sucipto Airport Bandara Adi Soemarmo 82.126.565 22.773.888 104.900.453 (38.668.235) 66.232.218 Adi Soemarmo Airport Bandara Ahmad Yani 162.176.925 44.972.040 207.148.965 (76.358.916) 130.790.049 Ahmad Yani Airport Bandara Juanda 541.766.456 150.233.104 691.999.560 (255.083.759) 436.915.801 Juanda Airport Bandara Syamsudin Noor 98.448.837 27.300.093 125.748.930 (46.353.367) 79.395.563 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 343.282.726 95.193.102 438.475.828 (161.630.251) 276.845.577 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 791.935.661 219.605.610 1.011.541.271 (372.872.708) 638.668.563 I Gusti Ngurah Rai Airport Bandara Praya 128.264.817 35.568.134 163.832.951 (60.391.837) 103.441.114 Praya Airport Bandara El Tari 59.596.225 16.526.173 76.122.398 (28.060.115) 48.062.283 El Tari Airport Bandara Sultan Hassanudin 304.977.408 84.570.948 389.548.356 (143.594.685) 245.953.671 Sultan Hassanudin Airport Bandara Sam Ratulangi 118.861.352 32.960.531 151.821.883 (55.964.337) 95.857.546 Sam Ratulangi Airport Bandara Pattimura 72.873.303 20.207.937 93.081.240 (34.311.456) 58.769.784 Pattimura Airport Bandara Frans Kaisiepo 39.315.398 10.902.252 50.217.650 (18.511.149) 31.706.501 Frans Kaisiepo Airport Strategic Business Unit DPS - 89.477.318 89.477.318 (7.023.271) 82.454.047 Strategic Business Unit DPS Anak Perusahaan Subsidiaries Angkasa Pura Logistik - 291.585.538 291.585.538 (22.887.189) 268.698.349 Angkasa Pura Logistik Angkasa Pura Properti - 407.072.057 407.072.057 (31.951.980) 375.120.077 Angkasa Pura Properti Angkasa Pura Hotel - 366.779.625 366.779.625 (28.789.338) 337.990.287 Angkasa Pura Hotel Angkasa Pura Suport - 1.069.544.433 1.069.544.433 (83.950.891) 985.593.542 Angkasa Pura Suport Angkasa Pura Retail - 59.606.988 59.606.988 (4.678.683) 54.928.305 Angkasa Pura Retail

Total beban usaha 2.879.903.212 4.304.734.490 7.184.637.702 (1.580.345.119) 5.604.292.583 Total operating expenses

LABA USAHA 2.238.279.546 794.378.765 3.032.658.311 (115.863.588) 2.916.794.723 OPERATING INCOME

133 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

41. INFORMASI SEGMEN OPERASI (lanjutan) 41. OPERATION SEGMENT INFORMATION (continued) Informasi segmen operasi sebagai berikut: Operation segment Information is as follows: (lanjutan) (continued) 31 Desember/December 31, 2018

Kebandaraan/ Non-bandara/ Jumlah/ Eliminasi/ Konsolidasian/ Airport Non-airport Total Elimination Consolidated

PENDAPATAN (BEBAN) NON OPERATING REVENUE NON USAHA (EXPENSE) Kantor Pusat - (90.903.916) (90.903.916) - (90.903.916) Head Office Bandara Adi Sucipto - 23.401 23.401 - 23.401 Adi Sucipto Airport Bandara Adi Soemarmo - 128.102 128.102 - 128.102 Adi Soemarmo Airport Bandara Ahmad Yani - 34.423 34.423 - 34.423 Ahmad Yani Airport Bandara Juanda - 138.125 138.125 - 138.125 Juanda Airport Bandara Syamsudin Noor - 15.536 15.536 - 15.536 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman - 78.356 78.356 - 78.356 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai - 202.634 202.634 - 202.634 I Gusti Ngurah Rai Airport Bandara Praya - 84.817 84.817 - 84.817 Praya Airport Bandara El Tari - 15.817 15.817 - 15.817 El Tari Airport Bandara Sultan Hassanudin - 239.391 239.391 - 239.391 Sultan Hassanudin Airport Bandara Sam Ratulangi - 38.302 38.302 - 38.302 Sam Ratulangi Airport Bandara Pattimura - 14.868 14.868 - 14.868 Pattimura Airport Bandara Frans Kaisiepo - 10.446 10.446 - 10.446 Frans Kaisiepo Airport Strategic Business Unit DPS - 48.337 48.337 - 48.337 Strategic Business Unit DPS Entitas anak Subsidiaries Angkasa Pura Logistik - 1.823.218 1.823.218 - 1.823.218 Angkasa Pura Logistik Angkasa Pura Properti - 426.244 426.244 - 426.244 Angkasa Pura Properti Angkasa Pura Hotel - 2.208.994 2.208.994 - 2.208.994 Angkasa Pura Hotel Angkasa Pura Suport - (11.427.079) (11.427.079) - (11.427.079) Angkasa Pura Suport Angkasa Pura Retail - 514.951 514.951 - 514.951 Angkasa Pura Retail

Total pendapatan Total non operating (beban) non usaha - (96.285.033) (96.285.033) - (96.285.033) revenue (expense)

Laba rugi entitas asosiasi - 2.552.006 2.552.006 - 2.552.006 Income (loss) associates

Laba sebelum pajak 2.238.279.546 700.645.738 2.938.925.284 (115.863.588) 2.823.061.696 Income before tax

Pajak final - - 128.127.639 - 128.127.639 Final tax expense Pajak penghasilan badan - - 689.015.898 - 689.015.898 Corporate income taxes

Laba tahun berjalan 2.343.454.753 700.645.738 2.121.781.747 (115.863.588) 2.005.918.159 Profit for the year

Laba diatribusikan kepada: Income attributable to: Pemilik entitas induk - - - - 2.007.018.317 The owner of parent entity Kepentingan non pengendali - - - - (1.100.156) Non controlling interest

TOTAL LABA TAHUN BERJALAN 2.343.454.753 700.645.738 2.121.781.747 (115.863.588) 2.005.918.159 TOTAL PROFIT FOR THE YEAR

31 Desember/December 31, 2018

Kebandaraan/ Non-bandara/ Jumlah/ Eliminasi/ Konsolidasian/ Airport Non-airport Total Elimination Consolidated

ASET ASSET Kantor Pusat - 4.768.562.078 4.768.562.078 (273.285.429) 4.495.276.649 Head Office Bandara Adi Sucipto 6.968.262.778 502.802.707 7.471.065.485 (428.165.410) 7.042.900.075 Adi Sucipto Airport Bandara Adi Soemarmo 371.082.377 31.349.439 402.431.816 (23.063.295) 379.368.521 Adi Soemarmo Airport Bandara Ahmad Yani 2.431.219.083 18.618.768 2.449.837.851 (140.399.763) 2.309.438.088 Ahmad Yani Airport Bandara Juanda 2.069.424.496 273.143.419 2.342.567.915 (134.252.143) 2.208.315.772 Juanda Airport Bandara Syamsudin Noor 1.676.911.766 30.563.813 1.707.475.579 (97.855.116) 1.609.620.463 Syamsuddin Noor Airport Bandara Sultan Aji M. Sulaiman 1.582.417.133 388.705.355 1.971.122.488 (112.964.673) 1.858.157.815 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 4.964.600.716 640.051.255 5.604.651.971 (321.201.590) 5.283.450.381 I Gusti Ngurah Rai Airport Bandara Praya 949.148.090 132.255.681 1.081.403.771 (61.975.054) 1.019.428.717 Praya Airport Bandara El Tari 204.726.667 17.415.984 222.142.651 (12.730.955) 209.411.696 El Tari Airport Bandara Sultan Hassanudin 1.975.105.703 18.943.467 1.994.049.170 (114.278.597) 1.879.770.573 Sultan Hassanudin Airport Bandara Sam Ratulangi 397.056.973 16.630.225 413.687.198 (23.708.338) 389.978.860 Sam Ratulangi Airport Bandara Pattimura 214.844.271 15.848.600 230.692.871 (13.220.967) 217.471.904 Pattimura Airport Bandara Frans Kaisiepo 92.228.774 4.925.734 97.154.508 (5.567.907) 91.586.601 Frans Kaisiepo Airport Strategic Business Unit DPS 18.360.648 193.901.181 212.261.829 (12.164.687) 200.097.142 Strategic Business Unit DPS Entitas anak Subsidiaries Angkasa Pura Logistik - 247.876.813 247.876.813 (14.205.775) 233.671.038 Angkasa Pura Logistik Angkasa Pura Properti - 485.594.811 485.594.811 (27.829.351) 457.765.460 Angkasa Pura Properti Angkasa Pura Hotel - 728.225.102 728.225.102 (41.734.449) 686.490.653 Angkasa Pura Hotel Angkasa Pura Suport - 1.018.677.301 1.018.677.301 (58.380.212) 960.297.089 Angkasa Pura Suport Angkasa Pura Retail - 81.063.880 81.063.880 (4.645.756) 76.418.124 Angkasa Pura Retail

Total aset 23.915.389.475 9.615.155.613 33.530.545.088 (1.921.629.467) 31.608.915.621 Total asset

134 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

41. INFORMASI SEGMEN OPERASI (lanjutan) 41. OPERATION SEGMENT INFORMATION (continued)

Informasi segmen operasi sebagai berikut: Operation segment Information is as follows: (lanjutan) (continued)

31 Desember/December 31, 2018

Kebandaraan/ Non-bandara/ Jumlah/ Eliminasi/ Konsolidasian/ Airport Non-airport Total Elimination Consolidated

LIABILITAS LIABILITIES Kantor Pusat - 11.265.085.086 11.265.085.086 (416.824.767) 10.848.260.319 Head Office Bandara Adi Sucipto 1.325.063.685 95.611.436 1.420.675.121 (52.567.077) 1.368.108.044 Adi Sucipto Airport Bandara Adi Soemarmo 30.844.241 2.605.755 33.449.996 (1.237.699) 32.212.297 Adi Soemarmo Airport Bandara Ahmad Yani 653.868.301 5.007.455 658.875.756 (24.379.375) 634.496.381 Ahmad Yani Airport Bandara Juanda 251.157.117 33.150.238 284.307.355 (10.519.792) 273.787.563 Juanda Airport Bandara Syamsudin Noor 630.363.396 11.489.161 641.852.557 (23.749.491) 618.103.066 Syamsudin Noor Airport Bandara Sultan Aji M. Sulaiman 83.913.043 20.612.422 104.525.465 (3.867.596) 100.657.869 Sultan Aji M. Sulaiman Airport Bandara I Gusti Ngurah Rai 703.169.794 90.654.834 793.824.628 (29.372.703) 764.451.925 I Gusti Ngurah Rai Airport Bandara Praya 125.508.088 17.488.480 142.996.568 (5.291.084) 137.705.484 Praya Airport Bandara El Tari 49.831.983 4.239.179 54.071.162 (2.000.713) 52.070.449 El Tari Airport Bandara Sultan Hassanudin 159.711.036 1.531.807 161.242.843 (5.966.223) 155.276.620 Sultan Hassanudin Airport Bandara Sam Ratulangi 57.522.858 2.409.272 59.932.130 (2.217.577) 57.714.553 Sam Ratulangi Airport Bandara Pattimura 29.933.570 2.208.135 32.141.705 (1.189.290) 30.952.415 Pattimura Airport Bandara Frans Kaisiepo 25.444.175 1.358.917 26.803.092 (991.754) 25.811.338 Frans Kaisiepo Airport Strategic Business Unit DPS 55.824.598 589.546.474 645.371.072 (23.879.682) 621.491.390 Strategic Business Unit DPS Entitas anak Subsidiaries Angkasa Pura Logistik - 73.581.637 73.581.637 (2.722.629) 70.859.008 Angkasa Pura Logistik Angkasa Pura Properti - 277.630.431 277.630.431 (10.272.736) 267.357.695 Angkasa Pura Properti Angkasa Pura Hotel - 78.487.800 78.487.800 (2.904.164) 75.583.636 Angkasa Pura Hotel Angkasa Pura Suport - 411.053.156 411.053.156 (15.209.573) 395.843.583 Angkasa Pura Suport Angkasa Pura Retail - 26.944.296 26.944.296 (996.979) 25.947.317 Angkasa Pura Retail

Total liabilitas 4.182.155.885 13.010.695.971 17.192.851.856 (636.160.904) 16.556.690.952 Total liabilities

42. PERJANJIAN-PERJANJIAN PENTING 42. SIGNIFICANT AGREEMENTS

a) Perjanjian Konsesi - Direktorat Jenderal a) Concession Agreement - Directorate General of Perhubungan Udara Civil Aviation Pada tanggal 15 Desember 2015, Perusahaan On December 15, 2015, the Company entered mengadakan Perjanjian dengan Direktorat into an agreement with the Directorate General Jenderal Perhubungan Udara (DJPU) of Civil Aviation (DJPU) regarding the mengenai pemberian konsesi untuk melakukan concession provided to the Company to kegiatan pelayanan jasa kebandarudaraan conduct airport services as stated in agreement sebagaimana yang dituangkan dalam No. HK.201/2/8/DRJU.kum-2015 and perjanjian No. HK.201/2/8/DRJU.kum-2015 dan No. SP.333/HK.06.03/2015/DU (Concession No. SP.333/HK.06.03/2015/DU (Perjanjian Agreement). Konsesi). DJPU memberikan hak kepada Perusahaan DJPU granted the right to the Company to melakukan kegiatan pelayanan jasa conduct the airport service activities including kebandarudaraan termasuk meliputi pelayanan aircraft, passenger, freight and postal related sehubungan dengan jasa pesawat udara, services. Such services encompass for the penumpang, barang, dan pos. Layanan provision and/or development of: tersebut mencakup penyediaan dan/atau pengembangan: - Fasilitas kegiatan pelayanan pendaratan, - Facilities for service activities for landing, lepas landas, manuver, parkir, dan takeoff, maneuvering, parking and storage of penyimpanan pesawat udara; aircraft; - Fasilitas terminal untuk pelayanan - Terminal facilities for passenger transport angkutan penumpang, kargo, dan pos; services, cargo, and mail; - Fasilitas elektronika, listrik, air, dan - Electronic facilities, electricity, water, and instalasi limbah buangan; dan waste disposal installations; and - Lahan untuk bangunan, lapangan, dan - Areas for the building, grounds, and industry industri serta gedung atau bangunan yang as well as buildings provided to support air digunakan untuk mendukung transportasi transportation. udara.

135 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued)

a) Perjanjian Konsesi - Direktorat Jenderal a) Concession Agreement - Directorate General of Perhubungan Udara (lanjutan) Civil Aviation (continued)

Ketentuan-ketentuan penting dalam Perjanjian Important conditions in the Concession Konsesi adalah sebagai berikut, antara lain: Agreement, among others, are as follows: - Perusahaan diwajibkan untuk membayar - The Company is required to pay concession pendapatan konsesi dari pelayanan jasa revenue of airport service activities kebandarudaraan sebesar 2,5% dari amounting to 2.5% from revenue of airport pendapatan pelayanan jasa service activities per year, which will be kebandarudaraan per tahun, yang akan evaluated every 5 (five) years. dievaluasi setiap 5 (lima) tahun. - Perjanjian Konsesi berlaku selama - The Concession Agreement is valid for 2 (dua) tahun, terhitung sejak 2 (two) years, starting from date the ditandatanganinya perjanjian, dan Concession Agreement is signed, and diperpanjang selama 30 tahun sesuai extended for 30 years as agreed by DJPU kesepakatan DJPU dan Perusahaan, and the Company, after the Company setelah Perusahaan mendapat received approval from Shareholders persetujuan Rapat Umum Pemegang General Meeting. Saham.

DJPU memiliki kewenangan untuk melakukan DJPU has the authority to supervise and control pengawasan dan pengendalian terhadap the implementation of the Concession based pelaksanaan Konsesi berdasarkan Perjanjian on Concession Agreement in accordance with Konsesi sesuai dengan kewenangannya yang its authority which is regulated by the Law. diatur oleh Undang-Undang.

Sampai dengan tanggal penyelesaian laporan Up until the date of completion of the keuangan konsolidasian, perpanjangan consolidated financial statements, the perjanjian tersebut masih dalam proses. extension of the agreement is still in process.

Pada tanggal 28 Juni 2018, Perusahaan telah On June 28, 2018, the Company has received menerima tagihan pembayaran konsesi an invoice from DJPU for payment of pelayanan jasa kebandarudaraan tahun 2016 aeronautical service concession for year 2016 dari DJPU sebesar Rp91.505.658. amounting Rp91,505,658. Based on the Berdasarkan surat tagihan tersebut setiap information stated in the invoice, every late keterlambatan pembayaran akan dikenakan payment made 30 days after the date of invoice denda sebesar 2% setiap bulannya, setelah 30 will be subjected to penalty of 2% each month. hari sejak dikeluarkannya tagihan tersebut. On October 31, 2019, the Company has been Pada tanggal 31 Oktober 2019, Perusahaan fully paid the invoice as stated above. telah melakukan pembayaran secara penuh atas tagihan tersebut di atas.

Pada tanggal 31 Desember 2019 dan 2018, On December 31, 2019 and 2018, the Perusahaan mencatat akrual beban konsesi Company has recorded accrued concession masing-masing sebesar Rp279.472.029 dan expense amounted to Rp279,472,029 and Rp339.808.404. Rp339,808,404, respectively.

Sehubungan dengan kerterlambatan In relation with the late payment of the invoice pembayaran tagihan tersebut di atas, as stated above, the Company has accrued the Perusahaan telah mencadangkan denda penalty amounting to Rp27,451,797 and sebesar Rp27.451.797 dan Rp9.150.566 Rp9,150,566 as of December 31, 2019 and masing-masing pada tanggal 31 Desember 2018, respectively (Notes 17). 2019 dan 2018 (Catatan 17).

136 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued)

b) Perjanjian kerja sama pemanfaatan tanah milik b) Cooperation agreements utilization of land Tentara Nasional Indonesia Angkatan Darat owned by (TNI AD) in Ahmad (TNI AD) di Bandara Internasional Ahmad Yani Yani International Airport

Pada tanggal 17 Juni 2014, Perusahaan dan On June 17, 2014 the Company and TNI AD TNI AD menandatangani perjanjian kerjasama signed into cooperation agreement utilization of pemanfaatan sebagian tanah Milik TNI AD di some of the land owned by TNI AD in Ahmad Bandara International Ahmad Yani Semarang Yani International Airport for period of 30 (thirty) dengan jangka waktu selama 30 (tiga puluh) years from the signing of the agreement. This tahun terhitung sejak ditandatanganinya cooperation agreement has the sole purpose to perjanjian. Perjanjian kerja sama ini mempunyai enable the development of facilities and maksud dan tujuan melaksanakan infrastructure Ahmad Yani International Airport pengembangan sarana dan prasarana Bandar in Semarang for civil aviation and military Udara International Ahmad Yani Semarang aviation with the principles of the corporation. untuk penerbangan sipil dan penerbangan militer dengan prinsip prinsip korporasi.

Ruang lingkup kerjasama adalah : The scope of cooperation are : a. Pemanfaatan tanah milik TNI AD seluas a. The utilization of land owned by TNI AD 885.500 m2 dimana tanah seluas 676.089 area of 885,500 m2 where the land of m2 akan digunakan untuk areal 676,089 m2 will be used for airport pengembangan bandar udara dan tanah development area and the land of 208,411 seluas 208.411 m2 akan digunakan untuk m2 will be used for recharge areas on the areal resapan pada sisi utara areal north side of the airport development area. pengembangan bandar udara. b. Pembayaran kontribusi kepada negara b. Payment of contributions to the country by oleh Perusahaan berupa kontribusi tetap the Company is in the form of fixed dan pembagian keuntungan atas contributions and profit sharing on land pemanfaatan lahan. use. c. Aset yang diperoleh dari kerja sama c. Assets obtained from this utilization pemanfaatan ini akan diserahkan oleh cooperation will be handed over by the Perusahaan kepada TNI AD setelah Company to TNI AD after the agreement perjanjian berakhir yang dituangkan dalam ends which is stated in the minutes of berita acara serah terima. handover.

c) Perjanjian kerja sama pemanfaatan tanah milik c) Cooperation agreements utilization of land Tentara Nasional Indonesia Angkatan Laut (TNI owned by Indonesian Navy (TNI AL) Juanda AL) di Bandar Udara Internasional Juanda International Airport in Surabaya Surabaya

Pada tanggal 13 Februari 2014, Perusahaan On February 13, 2014, the Company and TNI dan TNI AL menandatangani perjanjian AL signed into cooperation agreement kerjasama pemanfaatan tanah dan fasilitas utilization of and facilities owned by TNI AL in milik TNI AL di Bandar Udara Internasional International Airport Juanda Surabaya for Juanda Surabaya dengan jangka waktu selama period of 30 (thirty) years from the signing of the 30 (tiga puluh) tahun terhitung sejak agreement. This cooperation agreement ditandatanganinya perjanjian. Perjanjian intended to carry out the development of kerjasama ini bertujuan untuk melaksanakan Juanda International Airport for the benefit of pengembangan Bandar Udara Internasional civil aviation and aviation Indonesian Navy. Juanda Surabaya untuk kepentingan penerbangan sipil maupun penerbangan TNI AL.

137 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued)

c) Perjanjian kerja sama pemanfaatan tanah milik c) Cooperation agreements utilization of land Tentara Nasional Indonesia Angkatan Laut owned by Indonesian Navy (TNI AL) Juanda (TNI AL) di Bandar Udara Internasional Juanda International Airport in Surabaya (continued) Surabaya (lanjutan)

Objek perjanjian kerjasama ini adalah tanah The object of this cooperation agreement is an seluas 3.143.352 m2 beserta fasilitas di atasnya area of 3,143,352 m2 and the facilities on it milik TNI AL yang akan dimanfaatkan oleh owned by TNI AL which will be utilized by the Perusahaan. Company.

Sarana dan prasarana yang telah ada Facilities and infrastructure that have been sebelumnya maupun dibangun oleh previously established or built by the Company Perusahaan akan diserahkan kepada TNI AL. will be handed over to TNI AL. The Company is Perusahaan diwajibkan melaksanakan required to pay fixed contribution and profit pembayaran kontribusi tetap dan pembagian sharing from land use and its facilities from the keuntungan atas pemanfaatan tanah beserta results of the construction and development of fasilitasnya dari hasil pembangunan dan Airport Terminal 2. pengembangan Terminal 2 Bandara.

d) Perjanjian jasa kontruksi bandara baru di Kulon d) Construction service agreements of new airport Progo at Kulon Progo

Pada tanggal 21 Agustus 2018, Perusahaan On August 21, 2018, the Company and PP KSO dan PP KSO menandatangani perjanjian signed service agreement No. PJKP-18003169 pengadaan jasa No. PJKP-18003169 untuk to construct infrastructure of new airport at Kulon melakukan pembangunan infrastruktur bandara Progo with contract value of Rp6,138,506,000 baru di Kulon Progo dengan nilai kontrak (include VAT). The term of the agreement is 730 sebesar Rp6.138.506.000 (termasuk PPN). days since July 16, 2018 until July 14, 2020. PP Jangka waktu perjanjian selama 730 hari KSO also obliged to complete minimum terhitung sejak diterbitkannya 16 Juli 2018 operation on April 30, 2019. As of December 31, sampai dengan 14 Juli 2020. PP KSO juga 2019, the percentage of completion of the diwajibkan menyelesaikan minimum operasi construction has reached 88.43% from total pada tanggal 30 April 2019. Pada tanggal construction. 31 Desember 2019, persentase penyelesaian atas pengerjaan konstruksi tersebut telah mencapai 88,43% dari keseluruhan pekerjaan.

e) Perjanjian jasa kontruksi gedung terminal dan e) Construction service agreements of terminal fasilitas penunjang Bandara Syamsudin Noor building and supporting facilities at Syamsudin Noor Airport

Pada tanggal 7 Mei 2018, Perusahaan dan PP- On May 7, 2018, the Company and PP-WIKA WIKA Gedung KSO menandatangani perjanjian Gedung KSO signed construction service pengadaan jasa No. PJKP-18002942 untuk agreement No. PJKP-18002942 to construct melakukan pembangunan gedung terminal dan terminal building and supporting facilities fasilitas penunjangnya (Paket 1) Bandara (Package 1) Syamsudin Noor Airpot- Syamsudin Noor-Banjarmasin dengan nilai Banjarmasin with contract value of kontrak sebesar Rp1.173.113.700 (nilai Rp1,173,113,700 (include VAT). The term of the termasuk PPN). Jangka waktu perjanjian agreement is 540 days started on May 7, 2018 selama 540 hari terhitung sejak diterbitkannya 7 until October 28, 2019. As of Mei 2018 sampai dengan 28 Oktober 2019. December 31, 2019, the percentage of Pada tanggal 31 Desember 2019, persentase completion of the construction has reached penyelesaian atas pengerjaan konstruksi 100% from total construction. tersebut telah mencapai 100% dari keseluruhan pekerjaan.

138 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued)

f) Perjanjian jasa kontruksi gedung terminal dan f) Construction service agreements of terminal fasilitas penunjang Bandara Surabaya building and supporting facilities at Juanda Internasional Juanda International Airport Surabaya

Pada tanggal 4 Juli 2019, Perusahaan dan On July 4, 2019, the Company and PT Waskita Karya (Persero) Tbk. PT Waskita Karya (Persero) Tbk. signed menandatangani perjanjian pengadaan jasa construction service agreement No. PJKP- No. PJKP-19003930 untuk melakukan 19003930 to expand and revamp terminal perluasan dan pembenahan interior gedung building and its supporting facilities of Juanda terminal 1 dan fasilitas penunjangnya di International Airport Surabaya with contract Bandara Internasional Juanda Surabaya value of Rp685,500,000 (include VAT). The term dengan nilai kontrak sebesar Rp685.500.000 of the agreement is 420 days started on July 4, (nilai termasuk PPN). Jangka waktu perjanjian 2019 until August 26, 2020. As of December 31, selama 420 hari terhitung sejak 4 Juli 2019 2019, the percentage of completion of the sampai dengan 26 Agustus 2020. Pada tanggal construction has reached 49.78% from total 31 Desember 2019, persentase penyelesaian construction. atas pengerjaan konstruksi tersebut telah mencapai 49,78% dari keseluruhan pekerjaan. g) Perjanjian jasa kontruksi gedung terminal dan g) Construction service agreements of terminal fasilitas penunjang Bandara Internasional I building and supporting facilities at I Gusti Gusti Ngurah Rai Denpasar. Ngurah Rai International Airport Denpasar. Perusahan mengadaan perjanjian dengan The Company entered into agreements with berbagai kontraktor untuk pekerjaan konstruksi various contractors for construction work at di Bandara Internasional I Gusti Ngurah Rai I Gusti Ngurah Rai International Airport Denpasar dengan rincian sebagai beikut: Denpasar with the following details:

Nama Kontraktor/ Nilai Kontrak Jangka Waktu Pekerjaan/ Contractor Name (termasuk PPN)/ Pekerjaan/ Works Contract Amount Contract Term (include VAT) PT PP (Persero) 1.497.500.000.000 344 hari/days (14 Desain dan pembangunan Tbk Maret/March 2018 - apron sisi barat 21 Februari/February 2019) PT Virama Karya 179.001.790.000 268 hari/days (24 Desain dan pembangunan (Persero) Januari/January 2018 apron sisi timur dan Sewage - 19 Oktober/October Treatment Plant (STP) 2018) PT Amarta Karya 49.674.979.200 269 hari/days (21 Design & Build pekerjaan (Persero) Februari/February gedung VVIP, Base ops TNI 2018 - 17 dan Penggantian Line November/November Maintenance Airlines di 2018) Bandara Udara PT Angkasa Pura 117.879.833.500 329 hari/days (5 Perencanaan dan pembuatan Properti Maret/March 2018 - perluasan lantai 2 counter 28 Januari/January check in penumpang di 2019) terminal internasional Bandar Udara Internasional Denpasar

139 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued)

h) Perjanjian jasa kontruksi gedung terminal dan h) Construction service agreements of terminal fasilitas penunjang Bandara Internasional building and supporting facilities at Sultan Sultan Hasanuddin Makassar. Hasanuddin International Airport Makassar.

Pada tanggal 19 Maret 2019, Perusahaan dan On March 19, 2019, the Company and PT Wijaya Karya (Persero) Tbk. PT Wijaya Karya (Persero) Tbk. signed menandatangani perjanjian pengadaan jasa construction service agreement No. PJKP- No. PJKP-19003608 untuk melakukan 19003608 to construct and develop terminal konstruksi dan pengembangan gedung terminal building and its supporting facilities of Sultan dan fasilitas penunjangnya di Bandara Sultan Hasanuddin Airport Makassar with contract Hasanuddin Makassar dengan nilai kontrak value of Rp2,666,418,700 (include VAT). The sebesar Rp2.666.418.700 (nilai termasuk term of the agreement is started on February 27, PPN). Jangka waktu perjanjian terhitung sejak 2019 until May 11, 2021. As of December 31, 27 Februari 2019 sampai dengan 11 Mei 2021. 2019, the percentage of completion of the Pada tanggal 31 Desember 2019, persentase construction has reached 35,06% from total penyelesaian atas pengerjaan konstruksi construction. tersebut telah mencapai 35.06% dari keseluruhan pekerjaan.

i) Perjanjian dengan Pihak Berelasi i) Agreements with Related Parties

1. Perjanjian kerjasama tentang bangun guna 1. Cooperation agreement on build operation serah (BOT) atas tanah seluas 12.000 m² transfer (BOT) on land covering an area of di Sunset Road Bali antara Perusahaan 12,000 m² in Sunset Road Bali between dengan APP the Company and APP

Pada tanggal 19 September 2012, On September 19, 2012, the Company and Perusahaan dan APP menandatangani APP signed into cooperation agreement perjanjian kerjasama No.SP/96.HK.06.03/ No.SP/96.HK.06.03/2012/DU and No. 2012/DU dan No. APP.001/PKS/2012/DU APP.001/PKS/2012/DU regarding the use tentang bangun serah guna (BOT) atas of building (BOT) on land of 12,000 m2 on tanah seluas 12.000 m2 di Sunset Road Sunset Road Bali where the Company's Bali dimana tanah milik Perusahaan akan land will be handed over to APP to build diserahkan kepada APP untuk dibangun condotels and supporting facilities which kondotel dan fasilitas penunjang yang managed by APP. The period of the selanjutnya dikelola dan diusahakan oleh cooperation agreement is 32 (thirty two) APP. Jangka waktu perjanjian kerjasama years with 6 (six) months of preparation adalah 32 (tiga puluh dua) tahun dengan with the compensation to be received by 6 (enam) bulan persiapan dengan the Company amounting to Rp39,168,000. kompensasi yang akan diterima Perusahaan adalah sebesar Rp39.168.000. 2. Perjanjian kerjasama tentang bangun guna 2. Cooperation agreement on build operation serah (BOT) atas tanah seluas 16.386 m² transfer (BOT) on land covering an area of di Sunset Road Bali antara Perusahaan 16,368 m² in Sunset Road Bali between dan APP. the Company and APP. Pada tanggal 4 Agustus 2014, Perusahaan On August 4, 2014, the Company and APP dan APP menandatangani perjanjian signed into cooperation agreement No. kerjasama No. SP.187/KB.03.02/2014/PD SP.187/KB.03.02/ 2014/PD and dan No. APP. 001/PKS/2014/DU tentang No. APP. 001/PKS/2014/DU regarding the bangun serah guna (BOT) atas tanah use of building (BOT) on area of 16,386 m2 seluas 16.386 m2 di Sunset Road Bali on Sunset Road Bali where the Company's dimana tanah milik Perusahaan akan land will be handed over to APP to build diserahkan kepada APP untuk dibangun condotel, vilatel, commercial areas and kondotel, vilatel, area komersial dan supporting facilities which are managed by fasilitas penunjang yang selanjutnya APP. dikelola dan diusahakan oleh APP. 140 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

42. PERJANJIAN-PERJANJIAN PENTING (lanjutan) 42. SIGNIFICANT AGREEMENTS (continued) i) Perjanjian dengan Pihak Berelasi (lanjutan) i) Agreements with Related Parties (continued) 2. Perjanjian kerjasama tentang bangun guna 2. Cooperation agreement on build operation serah (BOT) atas tanah seluas 16.386 m² transfer (BOT) on land covering an area of di Sunset Road Bali antara Perusahaan 16,368 m² in Sunset Road Bali between dan APP (lanjutan). the Company and APP (continued). Jangka waktu perjanjian kerjasama The term of this agreement is 32 (thirty adalah 32 (tiga puluh dua) tahun dengan two) years with six (6) months from the 6 (enam) bulan persiapan sejak tanggal date of preparation of August 4, 2014. 4 Agustus 2014. Kompensasi yang akan Compensation for the Company amounted diterima Perusahaan adalah sebesar Rp54,000,000. Rp54.000.000.

j) Perjanjian jasa manajemen untuk j) Management services agreement for pengembangan komersial dan operasional commercial and operation development with PT bandara dengan PT GVK Services Indonesia GVK Services Indonesia Pada tanggal 1 November 2012, Perusahaan On November 1, 2012, the Company and dan PT GVK Services Indonesia (GVK) PT GVK Services Indonesia (GVK) entered into menandatangani perjanjian. Dalam perjanjian agreement. Based on agreement, GVK will tersebut, GVK akan memberikan jasa provide management services for commercial manajemen untuk pengembangan komersial and operation development in dan operasional Bandara Internasional I Gusti I Gusti Ngurah Rai Bali International Airport. In Ngurah Rai Bali. Atas jasa yang diberikan GVK relation with services given by GVK, GVK will tersebut, GVK akan memperoleh imbalan receive certain compensation as stated in tertentu sebagaimana ditetapkan dalam agreement. The agreement has been amended perjanjian. Perjanjian ini telah diamandemen to be effective for 5 years and ended on sehingga berlaku selama 5 tahun dan telah November 30, 2017. berakhir pada tanggal 30 November 2017. k) Perjanjian Kerjasama Pemanfaatan Bandara k) Cooperation Agreement of Utilization of Sentani Sentani Airport Pada tanggal 13 Oktober 2019, Perusahaan On October 13, 2019, the Company and dan Direktorat Jenderal Perhubungan Udara Directorate General of Civil Aviation Ministry of Kementerian Perhubungan Republik Indonesia Transportation Republic Indonesia (Dephub) (Dephub) menandatangani Perjanjian Kerja signed Cooperation Agreement of State Sama Pemanfaatan (KSP) Barang Milik Negara Property Utilization of Main Class I Sentani Pada Bandar Udara Kelas I Utama Sentani Airport Jayapura Jayapura No. HK.201/0027/KUM/BRJU/X/2019 No. HK.201/0027/KUM/BRJU/X/2019 and dan SP.314/HK.09.01/2019/DU. Perjajian ini SP.314/HK.09.01/2019/DU. This agreement is berlaku selama 30 tahun sejak effective for 30 years from signing date of the ditandatanganinya perjanjian. agreement. Ruang lingkup kerjasama tersebut adalah Scopes of the cooperation are as follows: sebagai berikut: - Mengelola dan melakukan optimalisasi - Manage and optimize provision and penyediaan dan pengembangan Bandar development of Sentani Airport Jayapura as Udara Sentani Jayapura sehingga the result increase its role in developing the meningkatkan perannya dalam mendukung economy activities. kegiatan perekonomian. - Memberikan kontribusi tetap (Catatan 9) - Provide permanent contribution (Note 9) dan pembagian keuntungan atas and profit sharing for management of pengelolaan Bandar Udara Sentani Sentani Airport Jayapura as non-tax state Jayapura sebagai Penerimaan Negara revenue (PNBP). Bukan Pajak (PNBP) - Penyerahan hasil pengembangan, - Hand over of the result of the development, pembangunan dan penambahan fasilitas construction and addition facilities of Bandar Udara Sentani Jayapura dari Sentani Airport Jayapura from the Company Perusahaan kepada Dephub. to Dephub. 141 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

43. KONTINGENSI 43. CONTINGENCIES

a) PT Bank Negara Indonesia Syariah (BNI a) PT Bank Negara Indonesia Syariah (BNI Syariah) Syariah)

Perusahaan menerima gugatan perdata dari The Company received civil suit from BNI BNI Syariah dengan nilai gugatan sebesar Syariah with with a claim value of Rp85.334.939 terkait pembayaran kepada Rp85,334,939 regarding payment to PT Slipi PT Slipi Raya Utama yang tidak melalui Raya Utama which is not through BNI Syariah’s rekening BNI Syariah sehubungan dengan account in connection with the construction of a pekerjaan pembangunan terminal penumpang passenger terminal and its supporting facilities dan fasilitas penunjangnya di Bandara at Lombok International Airport. Internasional Lombok.

Berdasarkan Putusan No. Based on Decision No. 315/PDT/2015/ 315/PDT/2015/PTDKI.jo.No.556/PDT.G/2013/ PTDKI.jo.No.556/PDT.G/2013/PN.JKT.PST PN. JKT.PST dan Putusan Nomor and Decision No. 315/PDT/2015/PT DKI, the 315/PDT/2015/PT DKI, Pengadilan Negeri Central Jakarta District Court and the Jakarta Jakarta Pusat dan Pengadilan Tinggi Jakarta High Court granted a lawsuit from BNI Syariah mengabulkan gugatan dari BNI Syariah dan and sentenced the Company to impose a menghukum Perusahaan untuk melaksanakan performance of Rp2,491,890. As a result of this prestasinya sebesar Rp2.491.890. Atas decision, the Company requested cassation on putusan tersebut, Perusahaan mengajukan January 26, 2016. permohonan kasasi tanggal 26 Januari 2016.

Pada tanggal 31 Desember 2017, Perusahaan On December 2017, the Company has telah membukukan pencadangan biaya recorded accrued expense amounted to sebesar Rp87.826.828 pada akun beban Rp87,826,828 on accrued expense. akrual.

Pada tahun 2018, Perusahaan menerima In 2018, the Company received the Supreme Putusan Mahkamah Agung Nomor 1461 Court's Decision No. 1461 K/Pdt/2017 dated K/Pdt/2017 tangal 27 September 2017 dimana September 27, 2017 where the Company Perusahaan dihukum untuk melaksanakan supported its performance of Rp2,491,890. On prestasinya sebesar Rp2.491.890. Atas hal December 31, 2018, the Company has tersebut, pada tanggal 31 Desember 2018, recorded income amounted to Rp85,334,939 Perusahaan telah membukukan pendapatan as other income (Note 34). sebesar Rp85.334.939 pada akun penghasilan lain-lain (Catatan 34).

b) PT Sepinggan Sarana Utama (SSU) b) PT Sepinggan Sarana Utama (SSU)

PT Sepinggan Sarana Utama (SSU) PT Sepinggan Sarana Utama (SSU) submitted mengajukan permohonan arbitrase kepada an arbitration request to the Indonesian Badan Arbitrase Nasional Indonesia (BANI) National Arbitration Board (BANI) where the dimana SSU menyatakan bahwa Perusahaan SSU stated that the Company has defaulted the telah melakukan tindakan ingkar janji atas cooperation agreement for the construction and perjanjian kerjasama pembangunan dan operation of transit hotel at Balikpapan pengusahaan hotel transit di Bandar Udara Sepinggan Airport. On July 5, 2018, the Sepinggan Balikpapan. Pada tanggal Company received Case Verdict 5 Juli 2018, Perusahaan menerima Putusan No. 982/X/ARB-BANI/2017 from BANI where Perkara No. 982/X/ARB-BANI/2017 dari BANI the Company was ordered to pay dimana Perusahaan diperintahkan untuk compensation for investments made by SSU membayar ganti rugi atas investasi yang sudah and return the guarantee deposit to the SSU dilakukan SSU dan mengembalikan uang amounting to Rp104,793,567 and jaminan kesungguhan kepada SSU masing- Rp3,750,000, respectively. masing sebesar Rp104.793.567 dan Rp3.750.000.

142 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

43. KONTINGENSI (lanjutan) 43. CONTINGENCIES (continued)

b) PT Sepinggan Sarana Utama (SSU) (lanjutan) b) PT Sepinggan Sarana Utama (SSU)(continued)

Perusahaan menyampaikan surat permohonan The Company submitted an application letter to kepada Ketua Pengadilan Jakarta Pusat yang the Chairman of the Central Jakarta Court diterima Pengadilan Negeri Jakarta Pusat pada received by the Central Jakarta District Court tanggal 23 Oktober 2018 yang menyatakan on October 23, 2018 which stated, among antara lain: others: 1. Putusan arbitrase melanggar ketertiban 1. The arbitration award violates public order umum karena mengabaikan laporan hasil because it ignores the report on the results audit investigatif Badan Pengawas of the investigative audit of the Financial Keuangan dan Pembangunan. and Development Supervisory Agency. 2. Berdasarkan risalah rapat tanggal 2. Based on the minutes of the meeting dated 16 Agustus 2018 dengan SSU, SSU tidak August 16, 2018 with the SSU, SSU does keberatan apabila ganti rugi dihitung not object if compensation is calculated dengan kewajiban-kewajibannya. with its obligations. 3. SSU setuju nilai ganti rugi dikurangi 3. SSU agrees to the compensation value dengan pembayaran atas koridor reduced by payment for the connecting penghubung. corridor. 4. SSU masih memliki kewajiban 4. SSU still has the obligation to pay land pembayaran sewa tanah dan konsesi leases and concessions to the defendant. kepada termohon eksekusi. 5. SSU is obliged to hand over the land 5. SSU berkewajiban menyerahkan tanah owned by the Company and the transit milik Perusahaan dan hotel transit menjadi hotel to belong to the Company. milik Perusahaan.

Perusahaan menyampaikan surat permohonan The Company submitted a letter of application kembali kepada Ketua Pengadilan Jakarta back to the Chairman of the Central Jakarta Pusat yang diterima Pengadilan Negeri Jakarta Court received by the Central Jakarta District Pusat pada tanggal 6 November 2018 yang Court on November 6, 2018 stating, among menyatakan antara lain: others: 1. SSU setuju nilai ganti rugi dikurangi 1. SSU agrees the compensation value is dengan pembayaran atas bangunan reduced by paying for the connecting koridor penghubung yang menjadi bagian corridor building that is part of the transit dari hotel transit. hotel. 2. SSU masih memiliki kewajiban 2. SSU still has the obligation to pay land pembayaran sewa tanah dan konsesi leases and concessions to the defendant. kepada termohon eksekusi. 3. Perlu dilakukan penilaian ulang atas nilai 3. It is necessary to re-evaluate the value of aset hotel tersebut. the hotel assets.

Pada tanggal 15 Mei 2019, Perusahaan dan On May 15, 2019, the Company and SSU SSU menandatangani surat perdamaian signed an amicable letter where SSU agreed to dimana SSU sepakat untuk menyerahkan tanah hand over the land and hotel building to the berikut bangunan hotel ke Perusahaan dan Company and the Company will make payment Perusahaan membayar sebesar Rp86,7 miliar. of Rp86.7 billion. On May 16, 2019, the Pada tanggal 16 Mei 2019, Perusahaan telah Company has paid the stated amount to the melakukan pembayaran sejumlah tersebut SSU. kepada SSU.

143 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

44. INFORMASI PENTING LAINNYA 44. OTHER IMPORTANT INFORMATION

PT Angkasa Pura I (Persero) Bandara Internasional PT Angkasa Pura I (Persero) International Airport Juanda - Surabaya mencatat aset tanah sesuai Juanda - Surabaya recorded land assets in dengan Surat Keputusan Bersama (SKB) Menteri accordance with the Joint Decree (SKB) The Pertahanan Keamanan/Panglima Angkatan Minister of Defence Security/Commander of the Bersenjata, Menteri Perhubungan dan Menteri Armed Forces, Minister of Transportation and Keuangan No.: KEP- 23/X/1981; Minister of Finance No.KEP-23/X/1981; 661/KMK.011/1981; KM.217/AU.106/ Pbb. 81 661/KMK.011/1981; KM.217/AU.106/ Pbb.81 dated tanggal 28 Oktober 1981 tentang Pengalihan October 28, 1981 regarding the Transfer of Pengelolaan Penerbangan Sipil di Pangkalan Udara Management of Civil Aviation in the Navy Air Base TNI Angkatan Laut (TNI AL) Juanda dari Juanda from the Department of Defense and Departemen Pertahanan dan Keamanan kepada Security to the Department of Transportation and Departemen Perhubungan dan Peraturan Government Regulation No.30 of 1984 dated Pemerintah No. 30 Tahun 1984 tanggal September 19, 1984 in which the wealth of the 19 September 1984 dimana kekayaan negara pada country in Juanda International Airport has been Bandara Internasional Juanda telah dipisahkan dan separated and become additional government menjadi tambahan modal pemerintah pada capital in the Public Company Angkasa Pura I . Perusahaan Umum Angkasa Pura I.

Tanah pada areal Bandara Internasional Juanda Land at the Juanda International Airport area yang dikuasai oleh PT Angkasa Pura I (Persero) controlled by PT Angkasa Pura I (Persero) Juanda Cabang Juanda Surabaya tersebut juga diklaim oleh Branch Surabaya also claimed by Indonesian TNI AL RI sebagai tanah miliknya. National Army-Navy as their land.

Upaya proses penyelesaian kepemilikan tanah The effort of settlement process of land ownership tersebut di atas antara PT Angkasa Pura I (Persero) between PT Angkasa Pura I (Pesero) and the dan TNI AL telah beberapa kali dilakukan namun Indonesian National Army - Navy was arranged belum terdapat kesepakatan penyelesaian sampai several times, however there is no agreement to dengan tanggal penyelesaian laporan keuangan resolve until the date of completion of the konsolidasian. consolidated financial statements.

45. TUJUAN DAN KEBIJAKAN RISIKO MANAJEMEN 45. FINANCIAL RISK MANAGEMENT OBJECTIVE KEUANGAN AND POLICIES

MANAJEMEN RISIKO RISK MANAGEMENT Liabilitas keuangan pokok Kelompok Usaha terdiri The principal financial liabilities of the Group consist dari utang usaha, utang lain-lain, beban akrual, of trade payables, other payables, accrued liabilitas imbalan kerja jangka pendek, utang bank, expenses, short-term employee benefit liabilities, utang obligasi, utang jangka panjang lainnya dan bank loans, bonds payable, other non-current utang jaminan pelanggan. Tujuan utama dari payables and customer deposits. The main purpose liabilitas keuangan tersebut adalah untuk of these financial liabilities is to raise funds for the mengumpulkan dana untuk operasi Kelompok operations of the Group. The Group also has various Usaha. Kelompok Usaha juga memiliki berbagai financial assets such as cash and cash equivalents, aset keuangan seperti kas dan setara kas, piutang trade receivables, other receivables, accrued usaha, piutang lain-lain, pendapatan yang masih revenues, available-for-sale financial assets and harus diterima, aset keuangan tersedia untuk dijual other non-current assets which arise directly from its dan aset tidak lancar lain-lain yang timbul secara operations. langsung dari kegiatan usahanya.

Kegiatan Kelompok Usaha mencakup aktivitas The Group’s activities involve taking on risks in a pengambilan risiko dengan sasaran tertentu dengan targeted manner and managing them professionally. pengelolaan yang profesional. Fungsi Utama dari The main functions of the Group’s risk management manajemen risiko Kelompok Usaha adalah untuk are to identify all key risks for the Group, measure mengidentifikasi seluruh risiko kunci, mengukur these risks and manage the risk positions. The risiko-risiko ini dan mengelola posisi risiko. Group regularly reviews its risk management Kelompok Usaha secara rutin menelaah kebijakan policies and systems to reflect changes in markets dan sistem manajemen risiko untuk menyesuaikan and best practices. dengan perubahan di pasar dan praktik pasar terbaik. 144 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

45. TUJUAN DAN KEBIJAKAN RISIKO MANAJEMEN 45. FINANCIAL RISK MANAGEMENT OBJECTIVE KEUANGAN (lanjutan) AND POLICIES (continued) MANAJEMEN RISIKO (lanjutan) RISK MANAGEMENT (continued) Tujuan Kelompok Usaha dalam mengelola risiko The Group’s aim in managing the financial risks is to keuangan adalah untuk mencapai keseimbangan achieve an appropriate balance between risk and yang sesuai antara risiko dan tingkat pengembalian return, and minimize potential adverse effects on the dan meminimalisasi potensi efek memburuknya Group’s financial performance. kinerja keuangan Kelompok Usaha. Kelompok Usaha mendefinisikan risiko keuangan The Group defines financial risk as the possibility of sebagai kemungkinan kerugian atau laba yang losses or profits foregone, which may be caused by hilang, yang disebabkan oleh faktor internal dan internal or external factors which might have eksternal yang berpotensi negatif terhadap negative potential impact to the achievement of the pencapaian tujuan Kelompok Usaha. Group’s objectives. Direksi menyediakan kebijakan tertulis manajemen The Directors provide written policies for overall risk risiko secara keseluruhan termasuk kebijakan tertulis management, as well as written policies covering untuk area khusus seperti risiko mata uang asing, specific areas, such as foreign currency risk, interest risiko tingkat bunga, risiko kredit dan risiko likuiditas rate risk, credit risk and liquidity risk of financial instrumen keuangan. Masing-masing unit usaha instruments. Each business unit carries out the risk melaksanakan manajemen risiko berdasarkan management based on the written policies approved kebijakan - kebijakan yang disetujui oleh Direksi. Biro by the Board of Directors. Risk Management and Manajemen Risiko dan Kepatuhan (“BMRK”) Compliance Bureau monitors the risk management memonitor pelaksanaan manajemen risiko yang carried out by the Group. dilaksanakan oleh Kelompok Usaha. Risiko signifikan yang berasal dari instrumen The significant risks arising from financial keuangan Kelompok Usaha diantaranya adalah instruments to which the Group is exposed are risiko tingkat suku bunga, risiko kredit dan risiko interest rate risk, credit risk and liquidity0risk. likuiditas. a. Risiko suku bunga a. Interest rate risk

Risiko tingkat suku bunga adalah risiko dimana Interest rate risk is the risk that the fair value or nilai wajar atau arus kas masa datang dari future cash flows of a financial instrument will suatu instrumen keuangan akan berfluktuasi fluctuate because of changes in market interest akibat perubahan suku bunga pasar. rates. Perusahaan memiliki eksposur terhadap risiko The Company is exposed to the risk of changes perubahan suku bunga pasar yang berkaitan in market interest rates related to cash and cash dengan kas dan setara kas, investasi jangka equivalents, short-term investment and bank pendek dan utang bank. loans. Saat ini, Perusahaan belum memiliki kebijakan Currently, the Company does not yet have a formal untuk lindung nilai risiko tingkat suku formal policy to hedge interest rate risk. bunga. Pergerakan tingkat suku bunga diawasi untuk Interest rate movements are monitored to meminimalisasi dampak negatif terhadap posisi minimize any negative impact on the keuangan Perusahaan. Pinjaman dalam Company’s financial position. Borrowings at berbagai tingkat suku bunga menyebabkan different interest rates caused the Company Perusahaan terekspos risiko tingkat bunga. exposed to interest rate risk. To measure the Untuk mengukur risiko pasar atas pergerakan market risk of interest rate movements, the suku bunga, Perusahaan melakukan analisis Company conducts analysis on interest margin pada pergerakan marjin tingkat bunga dan profil and the maturity profile of financial assets and jatuh tempo aset dan liabilitas keuangan liabilities based on schedule of changes in berdasarkan jadwal perubahan suku bunga. interest rates.

145 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

45. TUJUAN DAN KEBIJAKAN RISIKO MANAJEMEN 45. FINANCIAL RISK MANAGEMENT OBJECTIVE KEUANGAN (lanjutan) AND POLICIES (continued)

MANAJEMEN RISIKO (lanjutan) RISK MANAGEMENT (continued)

a. Risiko suku bunga (lanjutan) a. Interest rate risk (continued) Perusahaan menghadapi risiko tingkat suku The Company is exposed to the interest rate bunga atas penarikan pinjaman bank jangka risk for the interest-bearing loans drawdowns panjang dan obligasi masing-masing sebesar from long-term bank loan and bonds totalling Rp19.763.184.044 dan Rp6.327.995.013 pada Rp19,763,184,044 and Rp6,327,995,013 as of tanggal 31 Desember 2019 dan 2018. December 31, 2019 and 2018, respectively.

Pada tanggal 31 Desember 2019 dan 2018, jika As of December 31, 2019 and 2018, if interest tingkat bunga atas pinjaman lebih tinggi/rendah rates on Rupiah-denominated borrowings had 1% dan variabel lain dianggap tetap, laba been 1% higher/lower with all other variables setelah pajak untuk tahun berjalan akan lebih held constant, profit after tax for the year would rendah/tinggi masing-masing sebesar have been Rp88,142,103 and Rp23,841,609 Rp88.142.103 dan Rp23.841.609, terutama lower/higher, respectively, mainly as a result of sebagai akibat tingginya/rendahnya beban higher/lower interest expense on floating rate bunga dari pinjaman dengan suku bunga borrowings. mengambang.

b. Risiko kredit b. Credit risk Risiko kredit adalah risiko bahwa Kelompok Credit risk is the risk that the Group will incur a Usaha akan mengalami kerugian yang timbul loss arising from its customers’ or dari pelanggan atau counterparty yang gagal counterparties’ failure to fulfill their contractual memenuhi kewajiban kontraktual mereka. obligations. Credit risk arises mainly from trade Risiko kredit terutama berasal dari piutang receivables from customers relating to usaha dari para pelanggan sehubungan operating revenues of airport services and its dengan pendapatan usaha pelayanan jasa related services. kebandarudaraan dan jasa terkaitnya. Kelompok Usaha terekspos risiko kredit The Group is exposed to credit risk mainly from terutama dari piutang usaha dan piutang lain- trade receivables and other receivables. Credit lain. Risiko kredit dikendalikan dengan risk is controlled by the continuous monitoring pengawasan terus menerus atas saldo dan and billing accounts receivable balances and penagihan piutang usaha dan piutang lain-lain. other receivables. Tabel di bawah ini menunjukkan risiko kredit The table below shows the maximum exposure maksimum untuk komponen-komponen dari to credit risk on the components of the laporan posisi keuangan konsolidasian pada consolidated statement of financial position as tanggal 31 Desember 2019 dan 2018: of December 31, 2019 and 2018:

31 Desember 2019/December 31, 2019

< 1 tahun/ 1-2 tahun/ > 3 tahun/ Total/ < 1 year 1-2 years > 3 years Total

Piutang usaha 482.468.952 42.918.765 2.379.410 527.767.127 Trade receivables Piutang lain-lain 80.344.191 - - 80.344.191 Other receivables Pendapatan yang masih harus diterima 291.022.438 - - 291.022.438 Accrued revenue

Total 853.835.581 42.918.765 2.379.410 899.133.756 Total

31 Desember 2018/December 31, 2018

< 1 tahun/ 1-2 tahun/ > 3 tahun/ Total/ < 1 year 1-2 years > 3 years Total

Piutang usaha 509.909.222 - - 509.909.222 Trade receivables Piutang lain-lain 39.711.686 - - 39.711.686 Other receivables Pendapatan yang masih harus diterima 298.444.329 - - 298.444.329 Accrued revenue

Total 848.065.237 - - 848.065.237 Total

146 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

45. TUJUAN DAN KEBIJAKAN RISIKO MANAJEMEN 45. FINANCIAL RISK MANAGEMENT OBJECTIVE KEUANGAN (lanjutan) AND POLICIES (continued)

MANAJEMEN RISIKO (lanjutan) RISK MANAGEMENT (continued)

c. Risiko likuiditas c. Liquidity risk

Risiko likuiditas adalah risiko dimana entitas Liquidity risk is the risk that the entity will have akan mengalami kesulitan dalam memperoleh difficulty in obtaining funds to meet short-term dana untuk memenuhi komitmen jangka commitments associated with financial pendek terkait dengan instrumen keuangan. instruments.

Mengingat bahwa Perusahaan pada saat ini Currently the Company conducting business sedang melakukan pengembangan bandara, development by establishing airport, increase peningkatan kapasitas dan pelayanan serta the capacity of airport facilities and services as fasilitas kebandarudaraan kearah bandara well as to the international standard airport . bertaraf International. Kegiatan Perusahaan The Company's activities require funding of tersebut membutuhkan sumber dana arus kas future cash flows are quite significant, then to masa depan yang cukup signifikan, maka manage the liquidity of the Company constantly dalam mengelola likuiditas Perusahaan selalu monitors the flow of cash and cash equivalents memantau arus kas dan setara kas agar to be sufficient to finance routine operations. memadai untuk membiayai operasional rutin.

Perusahaan mengelola risiko likuiditas dengan The Company manages liquidity risk by mempertahankan kas dan setara kas yang maintaining sufficient cash and cash mencukupi untuk memungkinkan Perusahaan equivalents to allow the Company fulfill short memenuhi komitmen jangka pendek dan term commitments and normal operation. The operasi normal. Selain itu Perusahaan juga Company is also supervise the cash flow melakukan pengawasan terhadap proyeksi projections actually to evaluate the assets and arus kas secara aktual dengan melakukan matured financial liabilities. evaluasi terhadap aset dan liabilitas keuangan yang telah jatuh tempo.

46. NILAI WAJAR 46. FAIR VALUE

Tabel berikut menyajikan nilai tercatat, yang juga The following table sets out the carrying values, merefleksikan nilai wajarnya, dari instrumen which also reflects the estimated fair values, of the keuangan Kelompok Usaha: Group’s financial instruments:

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Aset keuangan Financial assets Lancar Current Pinjaman yang diberikan dan piutang Loans and receivables Kas dan setara kas 5.510.903.592 3.149.113.800 Cash and cash equivalents Investasi jangka pendek 665.862.312 478.106.781 Short-term investment Piutang usaha 527.767.127 509.909.222 Trade receivables Piutang lain-lain 80.344.191 39.711.686 Other receivables Pendapatan yang masih harus diterima 291.022.438 298.444.329 Accrued revenues Tidak lancar Non-current Investasi jangka panjang 109.819.185 13.361.105 Long-term investment

Total 7.185.718.845 4.488.646.923 Total

147 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

46. NILAI WAJAR (lanjutan) 46. FAIR VALUE (continued) Tabel berikut menyajikan nilai tercatat, yang juga The following table sets out the carrying values, merefleksikan nilai wajarnya, dari instrumen which also reflects the estimated fair values, of the keuangan Kelompok Usaha: (lanjutan) Group’s financial instruments: (continued)

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Liabilitas keuangan Financial liabilities Lancar Current Liabilitas keuangan yang diukur dengan biaya perolehan Financial liabilities measured diamortisasi at amortized cost Utang usaha 314.867.383 689.340.867 Trade payables Utang lain-lain 3.292.812.136 3.797.799.960 Other payables Beban akrual 1.322.288.034 1.539.721.088 Accrued expenses Utang bank jangka pendek 158.010.670 105.631.070 Short-term bank loans Bagian jangka pendek pinjaman Current maturities of jangka panjang 538.975.837 941.998.089 long-term bank loans Tidak lancar Non-current Utang bank jangka panjang 16.724.208.207 5.385.996.924 Long-term bank loans Utang obligasi dan sukuk ijarah 2.994.896.323 2.993.700.828 Bonds payable and sukuk ijarah Utang jangka panjang lainnya 388.971.461 170.528.854 Other long-term liabilities

Total 25.735.030.051 15.624.717.680 Total

Detail dari liabilitas keuangan Kelompok Usaha The details of the Group’s financial liabilities in their dalam nilai tercatat dan nilai wajarnya adalah: carrying value and fair value are:

31 Desember 2019/December 31, 2019

Nilai tercatat/ Nilai wajar/ Carrying value Fair value

Liabilitas keuangan Financial liabilities Tidak lancar Non-current Utang bank jangka panjang 17.308.635.991 17.263.184.044 Long-term bank loans Bonds payables and Utang obligasi dan sukuk ijarah 3.000.000.000 2.994.896.323 sukuk ijarah

31 Desember 2018/December 31, 2018

Nilai tercatat/ Nilai wajar/ Carrying value Fair value

Liabilitas keuangan Financial liabilities Tidak lancar Non-current Utang bank jangka panjang 6.337.784.728 6.327.995.013 Long-term bank loans Bonds payables and Utang obligasi dan sukuk ijarah 3.000.000.000 2.993.700.828 sukuk ijarah

148 The original consolidated financial statements included herein are in Indonesian language.

PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousands of Rupiah, kecuali dinyatakan lain) unless otherwise stated)

46. NILAI WAJAR (lanjutan) 46. FAIR VALUE (continued)

Selain instrumen keuangan yang dijabarkan di atas, Other than the financial instruments described Kelompok Usaha tidak memiliki aset dan/atau above, the Group does not have any other assets or kewajiban lain yang dicatat pada nilai wajarnya. liabilities that are recorded at their fair values. Thus, Oleh karena itu, Kelompok Usaha tidak the Group does not disclose the fair value hierarchy mengungkapkan hirarki nilai wajar sebagaimana as required in PSAK No. 68, “Fair Value disyaratkan dalam PSAK No. 68, “Pengukuran Nilai Measurement”. Wajar”.

Nilai wajar didefinisikan sebagai jumlah dimana Fair value is defined as the amount at which an instrumen tersebut dapat dipertukarkan di dalam instrument could be exchanged in a current arm’s transaksi terkini antara pihak yang berkeinginan dan length transaction between knowledgeable willing memiliki pengetahuan yang memadai melalui suatu parties, other than in a forced or liquidation sale. transaksi yang wajar, bukan dalam penjualan yang dipaksakan atau penjualan likuidasi.

Metode-metode dan asumsi-asumsi di bawah ini The following methods and assumptions were used digunakan untuk mengestimasi nilai wajar untuk to estimate the fair value of each class of financial masing-masing kelas instrumen keuangan: instruments:

a. Aset keuangan lancar dan liabilitas keuangan a. Current financial assets and liabilities jangka pendek

Nilai wajar aset keuangan lancar dan liabilitas The fair values of current financial assets and keuangan jangka pendek yang akan jatuh liabilities with maturities of one year or less are tempo dalam waktu satu tahun atau kurang assumed to be approximately the same as their diasumsikan sama dengan nilai tercatatnya carrying amounts due to their short-term nature. karena bersifat jangka pendek. b. Aset keuangan tidak lancar dan liabilitas b. Non-current financial assets and liabilities keuangan jangka panjang

Nilai wajar dari aset keuangan tidak lancar dan The fair values of non-current financial assets liabilitas keuangan jangka panjang selain aset and liabilities other than available-for-sale keuangan tersedia untuk dijual dan utang bank, financial assets and bank loans are assumed to diasumsikan sama dengan nilai tunai yang be the same as the cash amount that will be akan diterima atau dibayarkan karena saat received or paid due to the fact that their jatuh temponya tidak dinyatakan dalam maturities are not stated in the related kontrak-kontrak terkait, sehingga tidak contracts, therefore it is not possible to memungkinkan untuk menentukan kapan aset determine when the financial assets and keuangan dan liabilitas keuangan jangka financial liabilities will be realized and settled, panjang tersebut akan direalisasi dan dilunasi. respectively.

Investasi jangka pendek dan investasi jangka Short-term investment and long-term panjang merupakan aset Perusahaan yang nilai investment represent the Company’s assets wajarnya didasarkan atas kuotasi harga pasar which their fair value are stated with last quoted terakhir pada tanggal 31 Desember 2019 dan market prices as of December 31, 2019 and 2018. 2018.

Pinjaman jangka panjang yang memiliki suku Long-term loans with floating and fixed bunga variabel dan tetap disajikan sebesar interest rates are carried at amortized costs biaya perolehan diamortisasi dengan using Effective Interest Rate (EIR). menggunakan metode Suku Bunga Efektif (SBE).

149 INFORMASI TAMBAHAN ADDITIONAL INFORMATION Laporan Keuangan Tersendiri (Entitas Induk) Individual Financial Statements (Parent Entity) PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTINTAS INDUK SAJA PARENT ENTITY ONLY LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION Tanggal 31 Desember 2019 As of December 31, 2019 (Dinyatakan dalam ribuan Rupiah, (Expressed in thousands Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

ASET ASSETS

ASET LANCAR CURRENT ASSETS Kas dan setara kas 5.158.432.529 2.708.714.005 Cash and cash equivalents Investasi efek 665.862.312 478.106.781 Investment securities Piutang usaha, neto Trade receivables, net Pihak berelasi 118.316.189 87.760.430 Related parties Pihak ketiga 299.853.024 349.076.399 Third parties Piutang lain-lain, neto 18.585.004 2.771.678 Other receivables, net Persediaan 7.909.551 8.696.313 Inventories Uang muka dan biaya dibayar Advances and prepaid di muka 56.427.055 55.583.981 expense Pendapatan akrual 211.165.362 248.048.906 Accrued revenues Pajak dibayar di muka 631.013.856 226.983.245 Prepaid taxes Aset lancar lainnya 76.240.275 46.761.356 Other current assets TOTAL ASET LANCAR 7.243.805.157 4.212.503.094 TOTAL CURRENT ASSETS

ASET TIDAK LANCAR NON-CURRENT ASSETS Estimasi tagihan pajak 99.018.495 - Estimated claims for refundable tax Aset pajak tangguhan - Deferred tax assets Piutang jangka panjang 88.500 503.743 Non-current receivables Uang muka dan biaya dibayar Long-term advances and prepaid di muka jangka panjang 29.641.419 expense Investasi jangka panjang 1.250.873.973 1.241.717.102 Long-term investments Properti investasi, neto 116.416.362 120.407.967 Investment property, net Aset tetap, neto 33.004.194.559 25.316.858.820 Fixed assets, net Aset tak berwujud, neto 33.312.879 36.865.444 Intangible assets, net Aset tidak lancar lainnya 125.325 10.609.591 Other non-current assets TOTAL ASET TIDAK LANCAR 34.504.030.093 26.756.604.086 TOTAL NON-CURRENT ASSETS

TOTAL ASET 41.747.835.250 30.969.107.180 TOTAL ASSETS

1 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTINTAS INDUK SAJA PARENT ENTITY ONLY LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION (lanjutan) (continued) Tanggal 31 Desember 2019 As of December 31, 2019 (Dinyatakan dalam ribuan Rupiah, (Expressed in thousands Rupiah, kecuali dinyatakan lain) unless otherwise stated)

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018 LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang usaha Trade payables Pihak ketiga 111.465.352 436.426.271 Third parties Pihak berelasi 82.950.136 166.921.834 Related Parties Utang lain-lain 3.372.442.736 3.984.929.420 Other payables Pendapatan diterima di muka 126.558.184 139.439.828 Unearned revenues Beban akrual 1.318.148.150 1.488.219.609 Accrued expenses Utang pajak 335.615.627 308.075.772 Tax payables Bagian jangka pendek pinjaman jangka panjang 483.165.313 918.167.263 Current maturities of long-term loans

TOTAL LIABILITAS JANGKA PENDEK 5.830.345.498 7.442.179.997 TOTAL CURRENT LIABILITIES LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Utang bank jangka panjang 16.503.981.968 5.347.552.550 Long-term liabilities Utang obligasi dan Sukuk Ijarah 2.994.896.323 2.993.700.828 Bonds loan and Sukuk Ijarah Utang jangka panjang lainnya 390.791.045 169.843.201 Other non-current liabilities Liabilitas imbalan kerja karyawan 412.692.601 286.226.135 Employee benefits liabilities Liabilitas pajak tangguhan 68.729.872 85.652.386 Deferred tax liabilities TOTAL LIABILITAS JANGKA PANJANG 20.371.091.809 8.882.975.100 TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITAS 26.201.437.307 16.325.155.097 TOTAL LIABILITIES

EKUITAS EQUITY Modal Saham 6.414.412.000 6.414.412.000 Shares Capital Modal dasar 12.000.000 saham dengan Authorized capital 12.000.000 shares nilai nominal Rp1.000.000 per saham with par value of Rp1,000,000 per Modal ditempatkan dan disetor share Issued and paid-up 6.414.412 saham tahun 6,414,412 shares in year 2018 dan 2017 2018 and 2017 Penyertaan modal negara 22.963.207 22.963.207 Government capital investment Tambahan modal disetor 8.588.878 - Addition paid in capital Nilai buku aset tetap kenavigasian (37.004.793) (37.004.793) Book value of fixed assets navigation Akumulasi penyusutan aset tetap Accumulated depreciation of kenavigasian 408.393.524 408.393.524 navigation fixed assets Penghasilan komprehensif lain (65.696.335) 3.992.569 Other comprehensive income Saldo laba Retained earnings Dicadangkan 7.779.477.782 6.116.787.720 Appropiated Tidak dicadangkan 1.015.263.680 1.714.407.856 Unappropriated TOTAL EKUITAS 15.546.397.943 14.643.952.083 TOTAL EQUITY TOTAL LIABILITAS DAN EKUITAS 41.747.835.250 30.969.107.180 TOTAL LIABILITIES AND EQUITY

2 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS KOMPREHENSIF LAIN AND OTHER COMPREHENSIVE INCOME Untuk Tahun yang Berakhir pada Tanggal For the Year Ended December 31, 2019 31 Desember 2019 (Expressed in thousand Rupiah, (Dinyatakan dalam ribuan Rupiah, unless otherwise stated) kecuali dinyatakan lain)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31,

2019 2018

PENDAPATAN USAHA OPERATING REVENUES Pendapatan aeronautika 4.992.124.803 5.118.182.759 Aeronautical revenues Pendapatan non-aeronautika 2.834.620.799 2.566.121.880 Non-aeronautical revenues

Total 7.826.745.602 7.684.304.639 Total

Beban operasional bandara (3.015.000.697) (2.926.811.279) Airport operation expenses Beban pegawai (1.344.763.855) (1.361.158.247) Employee expenses Beban umum dan administrasi (883.798.576) (897.827.572) General administrative expenses Beban pemasaran (23.747.937) (34.070.962) Marketing expenses Penghasilan lain-lain 145.553.748 261.813.143 Other income Beban lain-lain (98.628.995) (54.433.049) Other expenses

Laba Usaha 2.606.359.390 2.671.816.673 Operating Profit

Penghasilan keuangan 186.433.090 158.631.629 Finance income Beban keuangan (830.752.648) (248.462.889) Finance costs Bagian laba entitas asosiasi (8.952.137) 2.552.005 Equity income of associate entities

LABA SEBELUM PAJAK FINAL PROFIT BEFORE FINAL TAX DAN PAJAK PENGHASILAN AND CORPORATE BADAN 1.953.087.595 2.584.537.418 INCOME TAX Beban pajak final (98.550.753) (108.220.549) Final tax expense

LABA SEBELUM PAJAK PROFIT BEFORE PENGHASILAN BADAN 1.854.536.842 2.476.316.869 CORPORATE INCOME TAX

BEBAN PAJAK CORPORATE PENGHASILAN BADAN, NETO (429.376.743) (618.358.796) INCOME TAX EXPENSE, NET

LABA TAHUN BERJALAN 1.425.160.099 1.857.958.073 PROFIT FOR THE YEAR

3 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS KOMPREHENSIF LAIN (lanjutan) AND OTHER COMPREHENSIVE INCOME Untuk Tahun yang Berakhir pada Tanggal (continued) 31 Desember 2019 For the Year Ended December 31, 2019 (Dinyatakan dalam ribuan Rupiah, (Expressed in thousand Rupiah, kecuali dinyatakan lain) unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31,

2019 2018 PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Pos yang akan direklasifikasi Item that will not be reclassified to ke laba rugi: profit or loss: Laba (rugi) belum terealisasi investasi Unrealized gain (loss) on securities efek 12.293.462 (2.769.906) investment

Pos-pos yang tidak akan Items that will not be reclassified to direklasifikasikan ke laba rugi profit or loss Loss comprehensif income Rugi komperhensif entitas asosiasi (2.466.064) (1.551.198) from associate Laba (rugi) aktuarial imbalan kerja Actuarial gain (loss) on employee karyawan (79.516.302) (66.770.702) benefits

Penghasilan (rugi) komprehensif Other comprehensive income (loss) lain tahun berjalan setelah pajak (69.688.904) (71.091.806) for the year after tax

Total penghasilan komprehensif Total comprehensive tahun berjalan 1.355.471.195 1.786.866.267 income for the year

4 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2019 For the Year Ended December 31, 2019 (Disajikan Dalam ribuan Rupiah, kecuali dinyatakan lain) (Expressed In thousands Rupiah, unless otherwise stated)

Akumulasi Keuntungan penyusutan Laba (rugi) belum (kerugian) Tambahan aset tetap direalisasi atas aktuarial Modal saham Modal Nilai buku kenavigasian/ pemilikan efek/ imbalan kerja/ Keuntungan ditempatkan Penyertaan Disetor/ aset kenavigasian/ Accumulated Unrealized Gain (loss) (kerugian) entitas Saldo laba/Retained Earnings dan disetor/ modal pemerintah/ Additional Book value of depreciation gain (loss) on Actuarial post asosiasi/ Issued and paid Government Paid-in fixed assets of navigation marketable Retirement Gain (loss) of Dicadangkan/ Belum dicadangkan/ Total ekuitas/ shares capital capital investment Capital navigation fixed assets securities benefits associated entities Appropriated Unappropriated Total equity

Saldo per 31 Desember 2017 6.414.412.000 255.096.706 - (269.138.292) 408.393.524 58.521.114 18.824.346 (2.261.085) 4.981.926.570 1.275.026.933 13.140.801.816 Balance as of December 31, 2017

Pembagian dividen ------(283.716.000 ) (283.716.000 ) Dividend declared Cadangan ------1.134.861.150 (1.134.861.150 ) - General reserved Penyertaan modal pemerintah - (232.133.499 ) - 232.133.499 ------Government capital investment Laba bersih tahun berjalan ------1.857.958.073 1.857.958.073 Net income for the year Pendapatan komprehensif lain Other comprehensive income Rugi belum direalisasi atas Unrealized gain (loss) on pemilikan efek - - - - - (2.769.906) - - - - (2.769.906 ) securities investment Pengukuran kembali liabilitas Re-measurement of employee imbalan kerja ------(66.770.702) (1.659.983) - - (68.430.685 ) benefits liabilities Revaluasi asset tetap ------108.785 - - 108.785 Revaluation of fixed asset

Saldo per 31 Desember 2018 6.414.412.000 22.963.207 - (37.004.793) 408.393.524 55.751.208 (47.946.356) (3.812.283) 6.116.787.720 1.714.407.856 14.643.952.083 Balance as of December 31, 2018

Pembagian dividen ------(461.614.213 ) (461.614.213 ) Dividend declared Cadangan ------1.662.690.062 (1.662.690.062 ) - General reserved Difference arising from business Selisih transaksi kombinasi bisnis combination of entities under entitas sepengendali - - 8.588.878 ------8.588.878 common control Laba bersih tahun berjalan ------1.425.160.099 1.425.160.099 Net income for the year Pendapatan komprehensif lain Other comprehensive income Rugi belum direalisasi atas Unrealized gain (loss) on pemilikan efek - - - - - 12.293.462 - - - - 12.293.462 securities investment Pengukuran kembali liabilitas Re-measurement of employee imbalan kerja ------(79.516.302) (2.466.064) - - (81.982.366 ) benefits liabilities

Saldo per 31 Desember 2019 6.414.412.000 22.963.207 8.588.878 (37.004.793) 408.393.524 68.044.670 (127.462.658) (6.278.347) 7.779.477.782 1.015.263.680 15.546.397.943 Balance as of December 31, 2019

5 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY LAPORAN ARUS KAS STATEMENT OF CASH FLOWS Untuk Tahun Yang Berakhir Pada For The Year Ended Tanggal 31 Desember 2019 December 31, 2019 (Disajikan dalam ribuan Rupiah, (Expressed in thousands Rupiah, kecuali dinyatakan lain) unless otherwise stated)

Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31

2019 2018 ARUS KAS DARI CASH FLOWS FROM AKTIVITAS OPERASI OPERATING ACTIVITIES Penerimaan dari pelanggan 7.770.864.365 7.543.073.998 Receipts from customers Pembayaran kas kepada pemasok Cash payment to suppliers dan karyawan (5.616.929.326) (4.403.052.592) and employees Kas yang dihasilkan dari Net cash from receipt aktivitas operasi 2.153.935.039 3.140.021.406 and payment Pembayaran pajak (915.867.200) (733.849.286) Tax payment Kas bersih yang diperoleh dari Net cash provided by aktivitas operasi 1.238.067.839 2.406.172.120 operating activities ARUS KAS DARI CASH FLOWS FROM AKTIVITAS INVESTASI INVESTING ACTIVITIES Penerimaan dari (pengeluaran untuk) Received from (payment for) investasi jangka pendek (187.755.531) (81.150.806) short-term investment Pengeluaran untuk investasi jangka panjang (21.891.660) (13.361.105) Payment for long-term investment Penambahan aset tetap (9.106.876.809) (5.392.889.435) Addition in fixed assets Penerimaan bunga deposito dan Interest from deposits and jasa giro 186.433.090 158.631.629 checking accounts Kas bersih yang digunakan untuk Net cash used in aktivitas investasi (9.130.090.910) (5.328.769.717) investing activities ARUS KAS DARI CASH FLOWS FROM AKTIVITAS PENDANAAN FINANCING ACTIVITY Penerimaan (pembayaran) pinjaman Proceed (payment) jangka panjang 10.777.280.597 2.031.826.218 on long-term loans Pembayaran dividen kas (461.614.213) (283.716.000) Payments of cash dividends Kas bersih yang diperoleh (digunakan) Net cash provided (used) untuk aktivitas pendanaan 10.315.666.384 1.748.110.218 by financing activities Dampak perubahan selisih Effect of exchange rate changes on kurs terhadap kas dan setara kas 26.075.206 53.767.027 cash and cash equivalents PENURUNAN DECREASE IN CASH KAS DAN SETARA KAS 2.449.718.519 (1.120.720.352) AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AWAL TAHUN 2.708.714.010 3.829.434.362 AT BEGINNING OF YEAR KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AKHIR TAHUN 5.158.432.529 2.708.714.010 AT END OF YEAR

6 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam ribuan Rupiah, (Expressed in thousand Rupiah, kecuali dinyatakan lain) unless otherwise stated)

1. IKHTISAR KEBIJAKAN AKUNTANSI YANG 1. SUMMARY OF SIGNIFICANT ACCOUNTING PENTING POLICIES

a. Dasar penyusunan laporan keuangan a. Basis of preparation of the separate tersendiri entitas induk financial statements of the parent entity

Laporan keuangan tersendiri Entitas Induk The separate financial statements of the Parent disusun sesuai dengan Pernyataan Standar Entity are prepared in accordance with the Akuntansi Keuangan (“PSAK”) No. 4 (Revisi Statement of Financial Accounting Standards 2009), “Laporan Keuangan Konsolidasian dan (“PSAK”) No. 4 (Revised 2009), “Consolidated Laporan Keuangan Tersendiri”. PSAK No. 4 and Separate Financial Statements”. PSAK No. (Revisi 2009) mengatur dalam hal entitas (Revised 2009) regulates that when an entity memilih untuk menyajikan laporan keuangan elected to present the separate financial tersendiri maka laporan tersebut hanya dapat statements, such financial statements should disajikan sebagai informasi tambahan dalam be presented as supplementary information to laporan keuangan konsolidasian. Laporan the consolidated financial statements. Separate keuangan tersendiri adalah laporan keuangan financial statements are those presented by a yang disajikan oleh Entitas Induk yang Parent Entity, in which the investments are mencatat investasi pada entitas anak, entitas accounted for on the basis of the direct equity asosiasi, dan pengendalian bersama entitas interest rather than on the basis of the reported berdasarkan kepemilikan ekuitas langsung results and net assets of the investees. bukan berdasarkan pelaporan hasil dan aset Accounting policies adopted in the preparation neto investee. Kebijakan akuntansi yang of the parent entity separate financial diterapkan dalam penyusunan laporan statements are the same as the accounting keuangan tersendiri entitas induk adalah sama policies adopted in the preparation of the dengan kebijakan akuntansi yang diterapkan consolidated financial statements as disclosed dalam penyusunan laporan keuangan in Note 2 to the consolidated financial konsolidasian sebagaimana diungkapkan statements, except for investments in dalam Catatan 2 atas laporan keuangan subsidiaries and associates. In accordance with konsolidasian, kecuali untuk penyertaan pada PSAK No. 4 (Revised 2009), the Parent Entity entitas anak dan entitas asosiasi. Sesuai recorded the investments in subsidiaries and dengan PSAK No. 4 (Revisi 2009), Entitas associates using cost method. The Parent Induk mencatat penyertaan pada entitas anak Entity also recognizes dividends from dan entitas asosiasi dengan menggunakan subsidiaries and associate in profit or loss in its metode biaya. Entitas Induk juga mengakui separate financial statements when its right to dividen dari entitas anak dan entitas asosiasi receive the dividends is established. pada laporan laba rugi dalam laporan keuangan tersendiri ketika hak menerima dividen ditetapkan.

2. INVESTASI JANGKA PANJANG 2. LONG-TERM INVESTMENTS

Investasi jangka panjang Entitas induk terdiri dari The Parent Entity’s long term investments consist of penyertaan saham dan obligasi dengan rincian investments in shares and bond with details are as sebagai berikut: follow:

31 Desember/December 31,

2019 2018

Penyertaan saham 1.225.526.674 1.228.355.997 Investment in shares Obligasi 25.347.299 13.361.105 Bond

Total 1.250.873.973 1.241.717.102 Total

7 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

2. INVESTASI JANGKA PANJANG (lanjutan) 2. LONG-TERM INVESTMENTS (continued) a. Penyertaan saham a. Investment in shares

Informasi mengenai entitas anak dan asosiasi Information pertaining to subsidiaries and yang dimiliki Kelompok Usaha diungkapkan associates owned by the Group is disclosed in dalam Catatan 1c dan 13 atas Laporan Notes 1c and 13 to the Consolidated Financial Keuangan Konsolidasian. Statements.

Pada tanggal 31 Desember 2019 dan 2018, As of December 31, 2019 and 2018, the Parent Entitas Induk memiliki penyetaan saham Entity has investment in shares as follow: sebagai berikut:

Persentase Biaya perolehan Persentase Biaya perolehan Kepemilikan/ 31 Desember 2019/ Kepemilikan/ 31 Desember 2018/ Percentage of Acquisition cost Percentage of Acquisition cost ownership December 31, 2018 ownership December 31, 2018 Entitas Anak/Subsidiaries PT Angkasa Pura Support 99,81% 250.000.000 99,81% 250.000.000 PT Angkasa Pura Properti 99,96% 167.940.000 99,96% 167.940.000 PT Angkasa Pura Hotel 99,99% 649.864.789 99,99% 649.864.789 PT Angkasa Pura Logistik 98,00% 24.500.000 98,00% 24.500.000 PT Angkasa Pura Retail 97,50% 48.750.000 97,50% 48.750.000 Entitas Asosiasi/Associates PT Gapura Angkasa 7,76% 55.511.460 10,00% 45.682.461 PT Jasa Marga Bali Tol 8,00% 28.960.425 8,00% 40.617.939

Total 1.225.526.674 1.227.355.189

b. Obligasi b. Bonds

Pada tanggal 31 Desember 2019 dan 2018, As of December 31, 2019 and 2018, the Parent Entitas Induk memiliki obligasi sebagai berikut: Entity has bond as follow :

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Nilai nominal/ Nilai tercatat/ Nilai nominal/ Nilai tercatat/ Nominal value Carriying value Nominal value Carriying value

RI0148 15.206.000 15.277.199 15.206.000 13.361.105 RI0148 BEXI04BCN7 10.000.000 10.070.100 - - BEXI04BCN7

3. SALDO DAN TRANSAKSI SIGNIFIKAN DENGAN 3. SIGNIFICANT BALANCES AND TRANSACTIONS ENTITAS ANAK WITH SUBSIDIARIES

Entitas Induk mempunyai transaksi dan saldo yang The Parent Entity has the following significant signifikan dengan pihak entitas anak berikut: transactions and balances with its subsidiaries:

Pihak berelasi/Related parties Piutang usaha/Trade receivables Utang usaha/Trade payables

PT Angkasa Pura Logistik 5.240.637 43.597 PT Angkasa Pura Properti 49.104 1.595.172 PT Angkasa Pura Hotel 30.104.683 950.053 PT Angkasa Pura Suport 995.149 10.472.747 PT Angkasa Pura Retail 18.770.603 576.182

8 PT ANGKASA PURA I (PERSERO) PT ANGKASA PURA I (PERSERO) ENTITAS INDUK SAJA PARENT ENTITY ONLY CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS Tanggal 31 Desember 2019 dan untuk As of December 31, 2019 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended (Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

4. AKTIVITAS NON KAS 4. NON-CASH TRANSACTIONS

Transaksi non-kas terdiri dari: Non-cash transaction consists of:

31 Desember 2019/ 31 Desember 2018/ December 31, 2019 December 31, 2018

Kapitalisasi biaya pinjaman Capitalization of ke aset tetap 286.653.622 320.056.625 borrowing costs

Perubahan pada liabilitas yang timbul dari aktivitas Movement of liabilities arising from financing pendanaan pada laporan arus kas adalah sebagai activities in the statement of cash flows are as berikut : follows:

Non-arus kas/Non-cash flow Selisih kurs/ 1 Januari 2019/ Arus kas/ Foreign exchange Lainnya/ 31 Desember 2019/ January 1, 2019 Cash flow difference Other December 31, 2019

Pinjaman bank jangka panjang 6.327.995.013 10.970.851.262 - (35.662.231) 17.263.184.044 Long-term bank loans Pinjaman bank jangka pendek 105.631.070 52.379.600 - - 158.010.670 Short-term bank loans Obligasi dan sukuk ijarah 2.993.700.828 - - 1.195.495 2.994.896.323 Bonds payable and sukuk ijarah

Total 9.427.326.911 11.023.230.862 - (34.466.736) 20.416.091.037 Total

Non-arus kas/Non-cash flow Selisih kurs/ 1 Januari 2018/ Arus kas/ Foreign exchange Lainnya/ 31 Desember 2018/ January 1, 2018 Cash flow difference Other December 31, 2018

Pinjaman bank jangka panjang 4.308.921.739 2.056.782.957 - (37.709.683 ) 6.327.995.013 Long-term bank loans Pinjaman bank jangka pendek 77.711.102 27.919.968 - - 105.631.070 Short-term bank loans Obligasi dan sukuk ijarah 2.992.474.960 - - 1.225.868 2.993.700.828 Bonds payable and sukuk ijarah

Total 7.379.107.801 2.084.702.925 - (36.483.815) 9.427.326.911 Total

9