

Resourcing for a Greener Future: Leading with Impact through Sustainability
About the Theme
Since beginning exploration in Indonesia in the 1920s, PT Vale (formerly known as PT International Nickel Indonesia/INCO) has been committed to leading the industry with integrity and strong sustainability principles. “Resourcing for a Greener Future: Leading with Impact through Sustainability” is not just the theme of our sustainability report this year, but a reflection and affirmation of our vision and mission in responding to global challenges towards a greener future.
We recognize that nickel plays a crucial role in the global energy transition, especially as a key raw material for renewable energy technologies such as electric vehicle (EV) batteries and energy storage systems. In this context, PT Vale Indonesia is fully aware that mining activities, although important for development and supporting the decarbonization agenda, have a significant impact on society and the environment.
This awareness has given birth to a deep determination to not only provide raw materials responsibly, but also minimize negative impacts and create real positive contributions to the environment and surrounding communities. This commitment is in line with the company’s goal, which is to improve the quality of life and build a better future together.

Dear Esteemed Stakeholders,
As part of the global nickel industry ecosystem, PTVI is aware of the strategic responsibility we carry. We are not just running mining operations but also building a better future. We apply a dual materiality approach to understand ESG risks not only from a company perspective, but also from a societal and environmental perspective.
As new challenges arise from expansion projects and increased production capacity, we are refining our ESG roadmap to remain relevant and adaptive. This roadmap will contain concrete targets—from decarbonization, increasing social contribution, to strengthening governance—so that sustainability becomes a living culture throughout the organization, not just a commitment on paper. As part of its response to these challenges, PT Vale continues to develop a more comprehensive approach, including the implementation of Life Cycle Assessment in assessing operational impacts from upstream to downstream.
We express our highest appreciation for the continued support and trust given to PT Vale Indonesia Tbk. Amidst the ever-growing global complexity and dynamics, we are increasingly convinced that the true strength of a company lies in strong synergy and collaboration with its stakeholders. Our journey in the nickel industry is a journey to continue learning, adapting, and growing—together and for Indonesia.
Febriany Eddy
CEO & President Director PT Vale Indonesia Tbk

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Gold PROPER 2024
After three consecutive years of achieving Green PROPER, in 2024 we successfully obtained Gold PROPER from the Ministry of Environment and Forestry—the highest recognition of our environmental performance and social contribution. This award is clear evidence that consistent sustainable efforts can produce meaningful impacts.
PROPER is an annual environmental performance assessment by the Ministry of Environment and Forestry. The Gold rating is the highest award for companies that go beyond compliance and implement sustainable practices, including social aspects. PT Vale is the only integrated nickel mining and processing company to achieve a Gold rating this year.

Emissions and Energy Management
Through the implementation of the REALITAS program in 2024, PT Vale Indonesia achieved energy savings of 142,529 GJ and increased the use of renewable energy by 2%, contributing to a reduction in carbon emissions.
The Logic Cascade program, a smart control system that automatically adjusts coal input in the Reduction Kiln to keep carbon levels stable in the product, lower energy use, and reduce emissions and environmental footprint resulted in 346,413 GJ of energy savings and a 33,285-ton CO₂eq reduction in GHG emissions.
Meanwhile, our non-GHG Emissions Reduction Initiative improves the filtration system to optimize particulate emission control and enhance operational efficiency. The improvement successfully reduced particulate (non-GHG) emissions by 42 tons on Electric Furnace 2 and 22 tons on Electric Furnace 1.

Water and Effluent Management
Water replacement with air as the cooling method in Furnace 4 (SUPER FURNACE 4). This change helps reduce water usage while keeping production running efficiently. The program was successfully reduced by 22,536 m3 in 2024.
Through Water Level Sensor in the Matte Pond (SEL POLISI in MP) innovation, we reduced water consumption by 133,540 m3 in 2024.
To adjust the amount of coagulant used in treating mine runoff water, PT Vale runs the Intelligent Coagulant for Mine Water Treatment (INCO MATTE). The system contributed to the reduction of pollutants by 87 tons of TSS (Total Suspended Solids) and 0.11 tons of Cr6+ (Hexavalent Chromium) in 2024.


Waste Management (hazardous and non-hazardous)
Operation areas re-uses oil from workshops and maintenance of heavy and light vehicles as an alternative fuel for the Dryer and Reduction Kiln. This helps save energy and reduces hazardous waste by 1,107 tons in 2024.
We also applied innovation to optimize engine oil replacement using centrifugal filter technology, thereby extending the oil's lifespan and reducing hazardous waste by 4 tons in 2024.
PT Vale introduced TRAMPIL WOLIKO, a non-hazardous waste management innovation that transforms organic waste into maggot-based livestock feed using the tiered biopond method, enhancing efficiency. The program processed 5.6 tons of organic waste into animal feed through the tiered biopond innovation.
The company also implemented Track Shoe Regrouser program successfully reused 60 tons of scrap metal by extending the lifespan of bulldozer track shoe.
Maintaining Community Harmony through Strategic Engagement
Our approach to managing social impacts refers to international standards such as the IFC Performance Standards, ISO 26000, and ICMM guidelines. Our sustainability policy serves as the foundation for addressing social issues, including those directly related to communities around our operational areas. As a form of long-term commitment, we have developed a sustainability roadmap that serves as a strategic guide for planning, implementing, and evaluating programs aimed at creating long-term shared value.
We maintain constructive relationships with the community through open, meaningful, and continuous engagement. This includes information dissemination, gathering aspirations, and handling grievances through a structured complaints mechanism. The SDI system (Stakeholders, Demands, and Issues) is used to record interactions, monitor issues, and ensure prompt and responsive follow-up.

Community Development and Empowerment Program (PPM)
With an increasingly solid internal foundation, we continue to strengthen social involvement as part of our corporate responsibility. During 2024, we allocated US$4,000,198 for the Community Development and Empowerment Program (PPM) implemented in the Sorowako, Bahodopi, and Pomalaa areas, focusing on education, health, and infrastructure designed to address the real needs of the community. For this commitment, PT Vale received the Subroto Award for the community empowerment category—a form of recognition that further motivates us to continue to provide the best contribution to the communities around our operational areas.
In 2024, more than 300 families and 15 public facilities in Nuha District receive electricity subsidies. While 113 micro, small, and medium enterprises (MSMEs) participated in the capacity and competitiveness improvement program and 115 members of women farmers’ groups from 10 groups participate in organic farming training. Our health program reached 9 health centers around PT Vale operations and 41 students conducted research or internships in the operational area in Bahodopi, Central Sulawesi.
In Kolaka, Southeast Sulawesi, 56 farmers have joined our program under the Healthy and Environmentally-Friendly Sustainable Agriculture Program (PSRLB), with a total planting area of nearly 12 hectares, and they have completed 12 harvests. While in Tabarano, Wasuponda, East Luwu, we are working with local farmers to convert previously unused, disaster-prone land into a productive and sustainable agricultural area. On this 1.5-hectare plot, 15,000 pineapple seedlings have been planted.

SDI (Stakeholders, Demand and Issues) system
Through SDI (Stakeholders, Demands, and Issues) System, we ensures all complaints and grievances, including human rights violations, are recorded and followed up. Throughout 2024, 83.7% of grievances were resolved. We also conducted revision of the stakeholder engagement plan and grievance mechanism in accordance with IFC standards, handling of complaints related to human rights violations through the implementation of Human Rights Due Diligence (HRDD), preparation of Land Acquisition and Resettlement Framework (LARF) and Security Management Plan (SMP), updates to Security Risk Assessment (SRA) referring to the Voluntary Principles on Security and Human Rights (VPSHR) standard, and grievance mechanism training for all related departments.

PT Vale’s commitment is starting to be reflected in the results of external assessments. Our ESG risk rating was updated by Sustainalytics to 29.4 (moderate risk category), the lowest level in the last three years. Meanwhile, PT Vale’s credit rating based on S&P Global Ratings has increased from ‘BB’ to ‘BB+’.
As part of our standard-building efforts, we are currently in the process of meeting the IRMA 50 (Initiative for Responsible Mining Assurance) standard—a comprehensive sustainability standard in the mining sector.

As part of the post-divestment transformation, we are implementing a carve-out process to improve operational efficiency, accelerate decision-making, and strengthen cross-unit synergies, while still upholding the principle of prudence.


Governance Policy
Transparent and accountable governance is the main foundation in every operational line of PT Vale. We are committed not only to implementing strong sustainability principles but also ensuring that the entire value chain, including employees, partners, and external parties, operates according to high standards in ethics, integrity, and transparency.We apply the Code of Conduct (CoC) as the main guideline in realizing sustainable governance. This Code of Conduct includes the following principles:

Anti-Corruption and Anti-Fraud
Throughout 2024, we also carried out anti-corruption policy awareness through internal media such as email blasts and banners, and organized various anti-corruption outreach and training activities. A total of 247 employees participated in Anti-Bribery and Anti-Corruption Training, with priority given to units that interact directly with external parties such as the government, partners, and others. The training materials included anti-corruption policies, case studies, reporting mechanisms, and awareness building on corruption risks in business processes.Our commitment to transparency and accountability is realized through the Vale Whistleblower Channel (VWC), an independent reporting channel that allows suppliers, customers, and third parties to report suspected violation anonymously, safely, and without fear of retaliation.
In 2024, VWC received 23 reports of alleged violations, with 17 reports (74%) found to be valid and investigated while maintaining confidentiality and objectivity. The types of violations reported include fraud, conflicts of interest, interpersonal relations, relationships with third parties, health and safety at work, and environmental issues.

Cyber Security and Data Privacy
PT Vale is fully committed to protecting the privacy and personal data of all individuals processed by the company, including employees, customers, service providers, and other stakeholders. To this end, we implement the Personal Data and Privacy Protection Policy, ensuring that the collection, processing, storage, and deletion of data are carried out in accordance with applicable laws.Throughout 2024, Vale did not receive any reports related to the damage,modification, or leakage of digital data and information from customers, employees, or other stakeholders.
Certification
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ISO 14001:2015 - Environmental Management Systems Certificate No. ID004085 by Bureau Veritas.
Scope: Mining, processing plant of nickel, including its support and services.
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ISO 17025 - Laboratory Test and Calibration Standards Certificate No. LP-1729-DN by Komite Akreditasi Nasional.
Scope: Competence of Testing Laboratories and Calibration Laboratories.
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ISO 50001 - Energy Management System
Certificate No.25.7130/EN/U
Validity period: May 13, 2024 - November 24, 2026
Scope: Nickel matte mining and processing operations

Aside from Greenold PROPER, we received external awards and appreciations troughout 2024, including:

a. Gold - Low Carbon Innovation category
b. Gold - Green Energy category
c. Silver - Ecological Hazard category
d. Silver - Ecosystem Protection category
e. Bronze - Smart Hydro innovation category
f. Bronze - Community Development Innovation category

a. Silver for SDGs 2.2 (Social Pillar): Stunting prevention and control program
b. Gold for SDGs 8.3 (Economic Pillar): Business and employment opportunity development through Sakti Woliko
c. Silver for SDGs 9 (Economic Pillar): Application of appropriate technology for pest control
d. Silver for SDGs 14 (Environmental Pillar): Marine ecosystem restoration and conservation
e. Gold for SDGs 15 (Environemnatl Pillar): Development of conservation-based egro-tourism

a. Aditama for Mineral Resources and Coal Conservation Management
b. Utama Award for Environmental Managmenet in Mineral and Coal Mining
c. Utama Award for Technical Management in Mineral and Coal Mining

a. EMERALD Category: Business Integrity / Anti-Corruption
b. EMERALD Category: Business and Human Rights
c. RUBY Category: Environmental
d. SAPPHIRE category: Overall index

a. Best Presentation
b. Platinum - SSG Mo Mylona PPM Converter Team
c. Platinum - SSG Opudi PPM Kiln-CTS Team







The 2024 PROPER results were announced by the Ministry of Environment and Forestry (KLHK) in 2025 as part of the assessment of PTVI's environmental and social performance in 2024

a. Silver: Best Practice in Community Development
b. Silver: Innovative Human Capital Management
In recognition of the Indonesia Growth Project (IGP) Morowali for responsible and sustainable business practices



