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PRESS RELEASE For immediate release Key Financials ( US $ m ) Revenue Gross Profit Operating Profit EBITDA NPATMI MERDEKA COPPER GOLD 1H2025 1H2026 YOY 855 1,402 + 64 % 106 434 + 309 % 79 397 + 404 % 176 512 + 191 % ( 16 ) 102 Turned Positive MDKA Swings to US $ 102 Million Profit as Gold and Nickel Strengthen 1H26 Earnings Jakarta , 26 September 2026 - PT Merdeka Copper Gold Tbk ( " Merdeka " or the " Company " ; IDX : MDKA ) returned to profitability in the first half of 2026 , supported by stronger earnings from its nickel and gold operations . Profit attributable to owners of the parent reached US $ 102 million , reversing a US $ 16 million loss in the same period last year . The stronger first - half performance also marks an important inflection point for Merdeka's multi - year growth investment strategy , as assets developed across gold , nickel and battery materials increasingly move into production and begin contributing to earnings . Consolidated revenue rose 64 % year - on - year to US $ 1.40 billion , while EBITDA increased 191 % to US $ 512 million . PT Merdeka Battery Materials Tbk ( IDX : MBMA ) remained the largest contributor to MDKA'S EBITDA in 1H26 , supported by higher sales volumes and stronger nickel ore prices , High - Grade Nickel Matte ( “ HGNM ” ) , Nickel Pig Iron ( " NPI " ) and acid . Stronger gold earnings also helped lift MDKA back into profit . Momentum is expected to strengthen further in 2H26 as PT Merdeka Gold Resources Tbk ( IDX : EMAS ) continues to ramp up production at the Pani Gold Mine and contributes more meaningfully to the Group's performance . " The first - half results demonstrate that the growth investments we have made across Merdeka's portfolio are increasingly translating into stronger operating and financial performance . Our nickel businesses delivered solid earnings growth , while our entity EMAS is still progressing through its production ramp - up , with output expected to be significantly weighted toward the second half of the year . Our focus remains on disciplined execution , operating efficiency and advancing the Group's key growth projects to strengthen long - term value creation , " said Albert Saputro , President Director of PT Merdeka Copper Gold Tbk . Gold production increased 32 % year - on - year to 66,814 ounces in the first half of 2026. Tujuh Bukit remained the main contributor with 49,402 ounces , while Pani Gold Mine added 17,412 ounces following the commencement of operations this year . Total gold sales increased 3 % year - on - year to 61,561 ounces . The Group's nickel operations also recorded higher production and sales volumes . MBMA produced 15.2 million wet metric tonnes ( " wmt " ) of nickel ore in the first half , up 121 % year - on - year , while ore sales increased 60 % to 12.4 million wmt . Higher equipment utilisation , hauling efficiency and productivity supported the increase in mining volumes . Downstream nickel operations also strengthened . NPI production and sales increased 20 % year - on - year following more stable smelter operations , while HGNM production more than doubled and sales rose 72 % . These improvements contributed to stronger earnings from the nickel value chain during the period . PT Merdeka Copper Gold Tbk ( IDX : MDKA ) | Press Release All figures are denominated in US Dollars , unless otherwise indicated Page 1 of 3