PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) announced that, through its subsidiary, PT Bakrie Toll Indonesia (“BTI”), it has completed the 100% acquisition of PT Cimanggis Cibitung Tollways (“CCT”). The signing of the Sale & Purchase Agreement (“SPA”) between BTI, PT Sarana Multi Infrastruktur (Persero) (“SMI”), and PT Waskita Toll Road (“WTR”) took place in Jakarta on Friday (November 28, 2025).

“This transaction is in response to a strategic opportunity for the Company to acquire all of CCT’s shares, currently held by SMI (55%) and WTR (35%),” BNBR President Director & CEO Anindya N. Bakrie told reporters after the SPA signing in Jakarta.

As previously reported, the Company owned a 10% stake in CCT, either directly or through BTI. Therefore, with the divestment of CCT shares by SMI and WTR, the Company views this acquisition as an opportune opportunity and momentum to consolidate full ownership of CCT.

“The primary consideration in undertaking this transaction is to strengthen the Company’s Business Group’s position in the national infrastructure sector, in line with the Company’s long-term business strategy focused on infrastructure and manufacturing development,” explained Anin.

According to Anin, by owning 100% of CCT’s shares, the Company is expected to optimize business synergies, enhance operational and strategic control over the toll road assets, and drive sustainable and significant revenue contributions to the Company’s consolidated business group’s future performance.

BNBR Deputy President Director A. Ardiansyah Bakrie added that the takeover of CCT was carried out through the purchase of 72,000,000 shares, equivalent to 90% of all issued and fully paid shares in CCT. This includes 44,000,000 CCT shares owned by SMI, equivalent to 55% of all issued and fully paid shares in CCT; and 28,000,000 CCT shares owned by WTR, equivalent to 35% of all issued and fully paid shares in CCT, with a total acquisition value of IDR 1 trillion.

In addition, Ardi continued, BTI also took over SMI and WTR’s receivables to CCT in connection with loans from CCT shareholders provided by SMI and WTR, with a total value of IDR 2.565 trillion which is the principal of the loan from the shareholders.

“The Cimanggis-Cibitung toll road is very strategic, as it is an alternative route to reduce congestion on other toll roads, especially the Jakarta-Cikampek Toll Road, and is an important part of improving transportation connectivity and efficiency, as well as the growth of industrial and economic areas around Greater Jakarta,” Ardi explained.

About PT Cimanggis Cibitung Tollways

PT Cimanggis Cibitung Tollways is a toll road business entity that manages the 26,184 km Cimanggis-Cibitung section with a 45-year concession period that will expire on August 10, 2061. The company’s business activities include financing, technical planning, construction, and operation and maintenance of the Cimanggis-Cibitung Toll Road.

As one of the National Strategic Projects, the Cimanggis-Cibitung Toll Road managed by CCT has been fully operational since the inauguration date by the Vice President of the Republic of Indonesia, Ma’ruf Amin, on July 9, 2024. This toll road is part of the Jakarta Outer Ring Road (JORR) 2 Toll Road network that connects the areas of Depok City, Bekasi City, Bogor Regency, and Bekasi Regency and is connected to the Jakarta-Cikampek Section of the Trans Java Toll Road, the Jagorawi Toll Road, the Cinere-Jagorawi Toll Road and will later be connected to the South Jakarta-Cikampek 2 Toll Road.

The Cimanggis-Cibitung Toll Road consists of two sections. Section 1, the 2.75 km Cimanggis–Jatikarya segment, began operating on October 26, 2020. Section 2, the 23.43 km Jatikarya–Cibitung segment, consists of Section 2A, the 3.78 km Jatikarya–Cikeas segment, which began operating on June 16, 2023, and Section 2B, the 19.657 km Cikeas–Cibitung segment, which began operating on the aforementioned inauguration date of July 9, 2024.