#1Bukit Asam Tarahan Coalmical, Berth#2 ahan Coal germinal, Berth 7144 2x110MW Banjarsari Power Plant Tarahan Coal Terminal, Berth #2015- Tarahan Coal Terminal, Berth#2 www.ptba.co.id Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA Corporate Presentation 6M2015 Results#2Table of Contents DX www.ptba.co.id CDX:PTBA 000000 1. Introduction 2. Operating Review 3. Commercial Review 4. Financial Review 5. Development Projects Appendices 10 01 Bukit Asam#3Introduction Bukit Asam During the Dutch colonial period, the first open-pit at Airlaya mine, in Tanjung Enim, South Sumatera started operating. Company's Key Milestones Indonesia's Oldest and Most Experienced Coal Producer PN TABA was converted into a limited corporation and its name changed to PT Tambang Batubara Bukit Asam (PTBA). This date is officially considered as the base of the commemoration of the company's anniversary. IDX Indonesia Stock Exchange Blings Wick Dadenesta PTBA was publicly listed on the Jakarta Stock Exchange with 35% of shares held by the public. It traded with the initial stock price of IDR575 under the code PTBA. 1919 1876 Coal Mine in Ombilin, West Sumatera, started in operation. 1950 The company changed into an Indonesian state owned company which was called "PN Tambang Arang Bukit Asam" (TABA). PN is abbreviation of Perusahaan Negara, means "State Company". Subsidiaries: Coal Business Coal Trading Power Generation Logistic CBM Gas PT. BATUBARA BUKIT KENDI Prima bpi OT BIINIT DEMBANGKIT INNOVATIVE INTERNASIONAL PRIMA COAL PT INTERNASIONAL PRIMA COAL Banko PT Bukit Asam Banko BukitAsam HUADIAN BUKIT ASAM POWER 2 Mar 1981 2015 Investment 1990 Another state owned coal company, "Perusahaan Umum Tambang batubara" merged with PT Bukit Asam (PTBA). Since then, PTBA become the only state owned coal mining in Indonesia. During the period 1991-1995, on the behalf of the Indonesian government, PTBA acted as the domestic coal regulator for Coal Contract of Works (CCOW). 23 Dec 2002 BUKITASAM TRANSPACIFIC RAILWAYS la enim PT. BUKIT ASAM METHANA ENIM BukitAsamMetanaOmblin BukitAsam Metana Peranap CBMI Bukit Energi Investama 70 02#4Operating Review Bukit Asam Performance Highlights FY14(A) FY15(F) YOY 1Q15 2Q15 QoQ a b b/a C d d/c 6M14 e 6M15 YOY f f/e SALES VOLUME (MT) 18.0 24.0 133% 4.58 4.45 97% 8.83 9.03 102% PRODUCTION (MT) 16.4 20.9 127% 3.26 5.06 155% 7.70 8.32 108% L TRADING/PURCHASE (MT) 1.8 2.7 150% 0.44 0.38 86% 1.06 0.82 77% ☐ RAILWAY CAPACITY (MT) 14.8 18.9 128% ☐ REVENUES (IDR TN) 13.1 3.28 ☐ NET PROFIT (IDR TN) 2.02 3.59 3.88 108% 7.11 3.23 99% 6.43 0.34 0.45 132% 1.16 0.79 69% 7.47 105% 6.51 101% ■ STRIP RATIO (.x) 4.6x 5.0x 109% 5.59x 4.49x 80% 4.52x 4.91x 109% Net Profit (IDR Trillion) Railway Capacity (Mn ton) 18.9 Revenue (IDR Trillion) 13.1 3.08 2.90 2.70 11.6 11.2 10.6 2.01 14.8 11.9 12.8 2.02 1.80 10.5 10.8 11.5 9.0 7.9 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 2015F 2009 2010 2011 2012 2013 2014 03 33#5Operating Review Mining Business License (IUP) Total Resources 7.29 billion tons Tanjung Enim Mine Ombilin Mine 66,414 Ha 2,950 Ha Total Mineable Reserves 1.99 billion tons Peranap Mine 18,230 Ha IPC Mine 3,238 Ha Total 90,832 Ha PERANAP MINE Recources : 0.79 billion tons Mineable : 0.37 billion tons OMBILIN MINE Resources : 0.10 billion tons Mineable : 0.02 billion tons Pekan Baru Peranap TELUK BAYUR PORT Stockpile : 90,000 tons Throughput : 2.5 M tpa Vessel : 40,000 DWT Padang Teluk Bayur Resources Mineable Installed Cap. TANJUNG ENIM MINE : 6.36 billion tons : 1.59 billion tons : 20 M tpa Ombilin Palembang Kertapati KERTAPATI PORT Stockpile : 50.000 tons Throughput : 2.5 M tpa Barging : 8,000 DWT TARAHAN PORT Stockpile : 860,000 tons Throughput : 13 M tpa Vessel : 210,000 DWT IPC MINE Resources: 0.045 billion tons Mineable : 0.01 billion tons Tanjung Enim Lampung Tarahan Jakarta PTBA core operations Bukit Asam Current Operations Samarinda - 04#6Operating Review Coal Resources Total 7.29 bn tons Bituminou s; 2,7% Bukit Asam Coal Mineable Reserves Total: 1.99 bn tons Bitumi nous; 3,0% Lignite Sub- bituminou Lignite, 34,2% 48.2% Sub- bitumi s, 49.1% nous; 2,8% Parameter TM (% ar) CV (KCal/Kg adb) BITUMINOUS < 18 > 6,400 SUB BITUMINOUS LIGNITE 18-30 > 35 (KCal/Kg ar) 5,800 - 7,950 4,900 - 6,400 4,400 - 5,800 < 4,900 < 4,400 05 50#7Commercial Review Bukit Asam Global Coal Review 1,800 1,600 Pacific Basin Seaborne Thermal Coal Import Demand by Country and Rank (Mt) 2500 Seaborne Thermal Coal Exports by Country (Mt) 1,400 2000 1,200 1,000 1500 800 Mt Mt 600 1000 400 500 200 0 2014 2016 2018 Japan, S Kor, Taiwan high 2020 All others low 2022 2024 2026 2028 ■Japan, S Kor, Taiwan low ■China high 2030 2032 2034 All others high China low 0 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 ■India high ■India low Australia North Korea Canada Poland China Russia Colombia South Africa ■USA Indonesia ■Mozambique Vietnam Source: Wood Mackenzie Coal Market Service, December 2014 Atlantic Basin Seaborne Thermal Coal Import Demand 250 Source: Wood Mackenzie Coal Market Service, July 2014 Thermal Coal FOB Price Forecast 200 150 TOO 50 by Country (Mt) 0 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 ■Germany high ■United Kingdom high ■Turkey high ■Italy high ■Israel high ■France high ■Brazil high ■All others high All others low Source: Wood Mackenzie Coal Market Service, December 2014 US$t (Original Energy Values $100 $90 $80 $70 $60 $50 $40 $30 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 -FOB Newcastle (Hist.) FOB Richards Bay (Hist.) -ARA DES (Hist.) ■FOB EnviroCoal (Hist.) FOB EcoCoal (Hist.) WM Forecast: FOB Newcastle 5,500 NAR HA May-15 Sep-15 WM Forecast: FOB Newcastle WM Forecast: FOB Richards Bay WM Forecast: ARA (DES) WM Forecast: EnviroCoal WM Forecast: EcoCoal JPU Newcastle Contract Source: globalCOAL and Indonesian Govt (History), Wood Mackenzie Coal Market Service, June 2014 06#8Million Tones Commercial Review Indonesian Domestic Demand Vs Exports (Mt) 1200 Domestic demand, Exports, Mt 1000 800 600 400 200 40% 35% 30% 25% 20% Demand/Production, % 17% 0% 0% Bukit Asam National Coal Review Primary Energy Mix (%) 0% 1% 18% 2011 36% 23% 1.446 juta SBM / million BOE 11% 2015 22% Batubara / Coal Minyak/Oil 32% Gas/Gas Kayu bakar/Firewood 28% Limbah pertanian/Agri Waste Hidro/Hydro Panas bumi/Geothermal 1.774 juta SBM / million BOE BBN B100/Biofuel 36% 39% EBT Lainnya / Other NRE 11% 0 15% 13% 2025 2030 2008 2011 2014 2017 2020 2023 2026 2029 2032 2035 Domestic demand Exports Demand % 33% 33% Source: Wood Mackenzie Coal Market Service, November 2013 Coal Consumption Guidance for Electricity Source: Agency For The Assessment And Application Of Technology, Dec 2013 Fuel Mix 2005-2021 : For Power Generation 100 80 200 180 160 140 120 རྞ ༄ ༅ ༈ ཎྜ ཎྜ ྂ ཋ ¥ ྾ ° PLN IPP Rental 80% 15% 100% 3% 2% LNG 5% 5% 5% 2% 5% 5% 3% 4% 4% 4% 4% 6% 7% 6% 90% 8% Hydropower 7% 12% 12% 7% 5% 13% 13% 6% 7% 13 Geothermal 13% 13% 5% 5% 4% 4% 4% 4% 4% 4% 4% 151.00 15% 16% 17% 142.77 21% 25% 20% 26% 130.92 70% 24% 22% 19% 19% 20% 19% 19% 26% 26% 120.17 Natural Gas 113.55 105.74 93.77 82.89 73.09 60% 83.46 77.66 41% 50% 45% 45% 43% 75.71 43% 73.78 72.67 47% 69.36 Coal 52% 53% 60 65.64 30% 52% 54% 52% 55% 57% 57% 57% 58% 58% 60.89 54.84 61.53 63.96 20% Oil 51.63 31N 20 32.97 37.42 42.81 28% 27% 276 23% 17.78 20.41 25.21 10% 16% 12 % 0- 0.46 1.58 2.93 3.41 3.47 3.58 3.58 3.58 3.58 7% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Source: PLN, 2014 Source: PLN, 2014 40% 10 07#9Financial Review Total Cash Cost (FOB) Bukit Asam Costs & Prices 6M15 Total Cost Breakdown Others; 4% Salaries & Wages; 11% Heavy Equipment; 4% 6M14 6M15 YOY Tanjung Enim System *) Ex Royalty (IDR) 535,017 547,572 +2% Railway Service; Total (IDR) 579,577 593,253 +2% 25% *) Note: Total cash cost include COGS,G&A, Selling Expenses, Inventory Weighted Average Strip Ratio 2 1 6543NIO 4.2 4.4 4.6 4.0 654321 O 2011 2012 2013 2014 5.59 4.91 4.49 4.52 Mining Service; 29% Spareparts; 1% Royalty; 7% Depreciation & Amortisation; 2% Sales Expenses; 4% Adm & Gen Expenses; 4% Coal Purchase; 8% Electricity; 0% Environment; 1% Average Selling Price (ASP) FY14 6M14 6M15 YOY Weighted ASP (IDR/Ton) 723,635 Export (USD/Ton) Domestic (IDR/Ton) 68.97 726,766 703,005 72.00 61.37 -3% -15% 688,644 666,746 649,754 -3% 1Q15 2Q15 6M15 6M14 08 80#10Financial Review Type Of Coal by Quality Bukit Asam Coal Brand & Sales Breakdown 6M15 Sales Breakdown by Country CV Coal Brand TS max Kcal/Kg,adb| Kcal/Kg,ar %,ar %,adb %,adb %,adb %,adb %,adb TM IM Ash VM FC HGI IPC 53 5,300 34 15 8 39 40 0.5 BA 55 5,500 4,550 30 15 39 38 0.8 50 BA 59 5,900 5,000 28 14 39 40 0.6 50 BA 61 6,100 5,000 28 12 7 41 40 0.8 50 BA 63 6,300 5,550 21 10 41 43 0.8 55 BA 67 6,700 6,100 16 8 6 42 44 0.8 55 BA 70 LS 7,000 6,450 14 7 4 42 47 0.7 55 BA 70 HS 7,000 6,450 14 7 4 42 47 1.2 55 BA 76 7,600 7,400 5 2 8 14 76 1.2 6M15 Sales Breakdown by Quality BA59 BA63 100% 2% BA67 ■BA70 17% 32% 80% 2% 1% 23% 3% 60% 96% 40% 20% 0% Domestic 51% Taiwan 27% Malaysia 8% Japan 6% 59% India 5% 21% Srilanka Bangladesh 0% Korea Pakistan Cambodia 3% Vietnam 0% 0% 0% 0% Domestic Export Total Total: 4.616 Mt Total: 4.411 Mt Total: 9.028 Mt 09#11Financial Review GROSS PROFIT MARGIN (%) OPERATING PROFIT MARGIN (%) 54 7% 33 26 6M14 6M15 40 46 50 44 31 31 -6% -13% 40 40 22 14 Bukit Asam Financial Ratios NET PROFIT MARGIN (%) 18 12 6M14 6M15 6M14 6M15 35 55 29 31 19 18 30 29 25 25 16 15 8% -11% 6% -4% -12% -1% 6% -5% 4% -4% -9% -1% 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 10#12Financial Review Bukit Asam PTBA Versus Global & Local Peers 24 11 10 15 6 YZC ACI BYAN BTU BUM ITMG HRUM BRAU ADRO PTBA AVERAGE -2 11! Gross Margin Operating Margin Net Margin Source: Bloomberg, 4 May 2015 YZC :Yanzhou Coal Mining ACI Arch Coal Inc. - USA (NYSE) ADRO : PT Adaro Energi - IDX HRUM : PT Harum Energi - IDX BRAU : PT Berau coal - IDX ITMG : PT Indo Tambangraya Megah - IDX BTU BUMI : Peabody Energy Corp. - USA (NYSE) PTBA : PT Bukit Asam - IDX : PT Bumi Resources - IDX BYAN : PT Bayan Resources - IDX - 11#13Financial Review Bukit Asam Summary Financial Performance (IDR Tn) FY 14 6M14 6M15 YOY Sales COGS 13.077 9.056 6.427 4.307 6.511 +1% 4.798 +11% EBITDA Net Income 2.016 1.156 2.870 1.639 1.263 -23% 0.795 -31% Assets 14.812 Cash 4.039 12.098 15.229 +26% 3.223 3.832 +19% Net Profit Margin (NPM) 15% 18% 12% -6% Return On Asset (ROA) 14% 10% 5% -5% Return On Equity (ROE) 23% 15% 9% -6% Return On Investment (ROI) 21% 15% 9% -6% 12#14Distribution Infrastructures Development EPROD Railway (Upgraded) Capacity : up to 22.7 M tpa TE - Kertapati : 160.9 km - TE - Tarahan : 409.5 Km Expect. COD : 2015 Railway Project (New) - BATR Capacity - Distance : 25.0 M tpa : 280 Km Expect. COD: 2019 Tanjung Enim Mine with the installed production capacity of 25 Mtpa TANJUNG ENIM MINE Muara Enim Lahat Prabumulih Tarahan Port Expansion - Capacity: From 13.0 to 25.0 Mtpa - Expect. COD: April 2015 Tarahan Port become the largest Coal Terminal on Sumatera since it can accomodate "Capesize" bulkcarrier vessels of upto 210,000DWT. It is fully owned and operated by PTBA Baturaja (The proposed railway) Double Tracks Bukit Asam Single Track with Crossing Sections Kertapati Palembang Barging Port (The proposed Tarahan Coal Terminal port) 13#15Power Plants Development - Location 800-1200MW Power Plant : Peranap Riau - Coal Cons. COD : 8.4 M tpa : 2020 3x600MW Sumsel 9&10 PP - Location Muara Enim - Coal Cons. : 8.4 M tpa - COD : 2019 - Location 2x620MW Power Plant : Central Banko - Coal Cons. : 5.4 M tpa COD : 2019 2x110MW Power Plant - Location : Banjarsari - Coal Cons. : 1.4 M tpa - COD : 2Q 2015 Guangzhou Macau Taiwan Hong Kong Bukit Asam Myanmar (Burma) Hanoi Labs Yangon Thailand South China Sea Luzon Manila Bangkok Vietnam Cambodia Andaman Sea Penh Phnom to Minh City Ho Chi Palawan Palawan Catanduanes Island Catanduanes Philippines Visayas Leyte Kabisayaan Island Bohol Leyte Sulu Sea Mindanao Malaysia 3x10MW Power Plant - Usage: Internal Mine Sites Coal Cons. : 0.15 M tpa - In Operation since Oct 2012 2x8MW Power Plant Usage: Internal Port Sites - Coal Cons. 0.10 M tpa - In Operation since Dec 2013 Kuala tumpur Singapore Peranap Riau Palembang 4x65MW Power Plant - Location : Tanjung Enim - Coal Cons. : 1.4 M tpa - In Operation since 1987 Bukit Asam Basilan Island Basilan Celebes Sea Tarahan Tanjung Enim Jakarta Indonesia Java Sea Banda Sea Surabaya Arafura Tender/Cooperation Process Projects in Operation 14#16Development Projects Project Upgraded Existing Railway Line Bukit Asam Production Infrastructure & CBM Status . Tanjung Enim - Tarahan Port (410km), TE – Kertapati Port (161km) BUKITASAM TRANSPACIFIC RAILWAYS KERETA API PEKERETA APIINDONESIA (PERSERO) BATR - Newly Developed Railway (Bukit Asam • • • • • Transpacific Railway) • · • 100% owned & operated by State Railway Company, PT KAI Capacity of 22.7Mtpa (2015 - 2029) Currently, PT KAI is operating about 2.944 Wagons and 106 Locomotives, including 600 new wagons and 5 new locomotives that arrived in 2014. Tanjung Enim - New Coal Terminal in Lampung (280km) PTBA (10%), Rajawali Asia Resources (80%), China Railway EC (10%) Investment of USD2 Bn, EPC Contract of USD1.3 Bn 18 Nov 2011, Frame Work Agreement funding with China Bank Consortium was signed. Currently in finalization for mining JV Restructuring Project will reach its peak capacity of 25 Mtpa in 4 years Tarahan Port Expansion • Located at the southern tip of Sumatera Island • Coalbed Methane Well Methane (to pipeline) Coal Bed Methane (CBM) Water (discharged) Methane Reduced water pressure • • Newly developed infrastructures for RCD3 & RCD4, Jetty #2 & Shiploader, Additional stockpile of 2x150,000Mt, and Office. Commissioning In June 2015, will be in operation with the new Jetty #2 is able to accomodate the giant 'Capesize' bulkcarrier vessels of upto 210,000DWT. It becomes the largest coal terminal on Sumatera and Indonesia Investment of about USD230 mn • Located in Tanjung Enim Mine . • . Cost Recovery Project between PTBA (27.5%), Pertamina (27.5%), Dart Energy Australia (45%) +40 MMSCF (Million Standard Cubic Feet per Day, with potential reserve of 0.8 Trillion Cubic Feet (TCF) Investment of USD14.48 Mn (for the first three years) Methane released from coal Coal water Submersible pump 15#17Development Projects a www The Plant 2x110MW Banjarsari Power Plant 2x620MW Banko Tengah Power Plant 800-1200MW Peranap Power Plant Bukit Asam Power Plants Status • • • • • • • • • • PTBA (59.75%), PJB (29.15%), NII (11.10%) Investment of USD350 Mn Coal Consumption: 1.4 M tpa In operation since June 2015 PTBA (45%), China Huadian Hong Kong Company Ltd (55%) Investment of USD1.6 Bn Coal Consumption: 5.4 M tpa Facility Loan Agreement of US$1.2 Bn has been signed with Cexim in March 2015 Financial Closing will be finalised in 2H15 Groundbreaking will start at the beginning of 2016 Commercial Operating Date will be in 2019 PTBA (Majority in Mining), PLN (Majority in Power Plant), TNB (Majority in Transmission) Investment of USD2.4 Bn Coal Consumption: up to 8.4 M tpa Currently in the process of preparation for the FS of power plant & transmission • Commercial Operating Date: 2020 3x10MW Power Plant for internal use . Located at Tanjung Enim Mine • Investment of USD37 Mn • Coal consumption: 0.15 Mtpa • In operation since October 2012 2x8MW Power Plant for internal use • Located at Tarahan Port • • Investment of USD21 Mn Coal consumption: 0.10 Mtpa In operation since December 2013 16#18Long Term Domestic Committment Bukit Asam ☐ Having A Total Long Term Coal Supply with: National Power Company\PLN (2010 - 2030) Indonesia Power (2013-2022) Huadian Bukit Asam Power\Power Plant (25 Years) Bukit Pembangkit Innovative\Power Plant (30 Years) Indonesia Fertilizer (30 Years) Cilacap Power Plant (4 Years) Committed Volume : 262 Mt : 52 Mt : 150 Mt : 36 Mt : 69 Mt 5 Mt Total : 574 Mt Supporting Power Plants Projects Development for: Coal Consumption О 3x10MW Power Plant, Muara Enim (In Operation) 2x8MW Power Plant, Lampung (In Operation) : 0.15 Mtpa : 0.10 Mtpa 2x110MW Banjarsari Power Plant (In Completion Process) 2x610MW Banko Tengah Power Plant (In Progress) 800 - 1200MW Peranap (In the Process) : 1.40 Mtpa : 5.40 Mtpa 1800MW Sumsel 9-10 Power Plants (In Bidding Process) : 8.40 Mtpa : 8.10 17#19Appendix WLANA CAMCO Q HONG SONG SHIPLOADER-2 SHIPLOADER- Tarahan Coal Terminal Bukit Asam JETTY 1 STEAM POWER PLANT BARGE LOADING JETTY 2X8 MW STOCKPILE-1 SP & ROUSH BR PRIMI CRUSHER RCD-3 RCD-4 Coverage: 43 Ha Throughput: 25 Mtpa . Capacity of Berths: STOCKPILE-4B STOCKPILE-4A Shiploader #2 210,000DWT Shiploader #1 80,000DWT Bargeloader Supporting Facilitieseyor to 10,000DWT • PLTU Tarahan Total Stockpiles: 0.9 Million ton 2x8MW Coal Fired Power Plant 10,000DWT Barge Unloading FUTURE STOCKPILE EXPANTION BRUSHER QUADROLL CRUSHER STOCKPILE-3 STACKER/ RECLAIMER STOCKPILE-2 Train Unloading System with 4 (Four) RCDs (Rotary Car Dumper) Certified by ISPS Code RCD-2 PRIM. KUSHER RCD-1 18#20Appendix The Subsidiaries: Coal Bukit Asam PTBA Structure PTBA operates a fully integrated large coal mining in Tanjung Enim (South Sumatera), Ombilin (West Sumatera), Peranap (Riau), and East Kalimantan with Total Resources & Reserves are 7.29 billion tons and 1.99 billion tons Bukit Asam The Indonesian Government owns 65% of Total Shares Trading respectively Power Logistic Gas Investment . Bukit Kendi (75%), Bukit Asam Prima (99.99%) coal mining, South Sumatera • International Prima Coal (51%), East Kalimantan • Bukit Pembangkit Innovative (59.75%) ⚫ Huadian Bukit Asam Power (45%) PT. BATUBARA BUKIT KENDI INTERNASIONAL PRIMA COAL PT INTERNASIONAL PRIMA COAL Prima Bukit Prima Bahari Pelabuhan Bukit Prima Anthrakas bpi PT BUKIT PEMBANGKIT INNOVATIVE Internasional Prima Cemerlang Tabalong Prima Resources Mitra Hasrat Bersama BukitAsam HUADIAN BUKIT ASAM POWER Bukit Asam Transpacific Railway (10%) BUKITASAM TRANSPACIFIC RAILWAYS • • . Bukit Asam Metana Enim (99.99%) Bukit Asam Metana Ombilin (99.99%) Bukit Asam Metana Peranap (99.99%) enim PT. BUKIT ASAM METHANA ENIM BukitAsam MetanaOmblin BukitAsam Metana Peranap Bukit Multi Investama (99,86%) CEMI Bumi Sawindo Permai Satria Bahana Sarana Bukit Asam Medika Bukit Energi Investama Banko PT Bukit Asam Banko 19#21Appendix The Top Forty Four Shareholders of PTBA as of 30 June 2015 Bukit Asam Shareholders Information NO Shareholder 1 NEGARA REPUBLIK INDONESIA Number % 1.498.087.500 65,02 2 TAMBANG BATU BARA BUKIT ASAM (PERSERO), 3 BPJS KETENAGAKERJAAN-JHT 4 PT TASPEN (PERSERO) - THT 129.997.500 5,64 53.376.000 2,32 Treasury Stock, 5.64% 35.516.000 1,54 5 PEMERINTAH PROPINSI SUMATERA SELATAN 21.315.000 0,93 6 BBH LUXEMBOURG S/A FIDELITY FD SICAV-FID 17.776.600 0,77 7 BBH BOSTON S/A VANGRD EMG MKTS STK INFD 16.558.825 0,72 8 BBH LUXEMBOURG S/A FIDELITY FD, SICAV-IN 13.298.800 0,58 9 BBH LUXEMBOURG S/A FIDELITY FD, SICAV-AS 11.664.900 0,51 Domestic, 15.60% 10 BPJS KETENAGAKERJAAN - JKK 11 PT AIA FINL-UL EQUITY 10.888.000 0,47 10.820.300 0,47 12 PAMAPERSADA NUSANTARA, PT 9.000.000 0,39 13 BPJS KETENAGAKERJAAN - BPJS 8.529.900 0,37 Foreign, 14 BNYM SA/NV AS CUST OF PEOPLE'S BANK OF C 8.133.600 0,35 13.74% 15 REKSA DANA BNP PARIBAS INFRASTRUKTUR PLU 7.552.200 0,33 16 PEMERINTAH DAERAH KABUPATEN MUARA ENIM 6.946.000 0,30 Government, 65.02% 17 SSB TRLD SSL C/O SSB, BOSTON TRILOGY INV 6.832.844 0,30 18 ASURANSI JIWA MANULIFE INDONESIA, PT-494 6.072.900 0,26 19 JPMCB-VANGUARD TOTAL INTERNTNL STOCK IND 6.062.400 0,26 20 SSB 1BA9 ACF MSCI EQUITY INDEX FUND B-IN 5.936.000 0,26 21 CITIBANK NEW YORK S/A EMERGING MARKETS C 5.766.500 0,25 22 REKSA DANA SCHRODER DANA PRESTASI DINAMI 23 BBH LUXEMBOURG S/A FIDELITY FUNDS ASIAN 24 SSB OBIH S/A ISHARES MSCI EMERGING MARKE 25 HSBC BK PLC RE AGUS FUND MANAGER S/A ABU 5.614.200 0,24 5.188.200 0,23 5.078.700 0,22 4.800.334 0,21 26 REKSA DANA SAM INDONESIAN EQUITY FUND- 4.538.600 0,20 27 REKSA DANA ASHMORE DANA PROGRESIF NUSANT 4.396.100 0,19 28 HSBC BANK PLC S/A SAUDI ARABIAN MONETARY 3.941.200 0,17 70% 60% 1000 29 REKSA DANA MANDIRI DYNAMIC EQUITY 3.878.800 60% 0,17 55% 60% 55% 30 HSBC BK PLC RE TRANG FUND MANAGER S/A AB 3.792.695 0,16 50% 31 CITIBANK LONDON S/A STICHTING PGGM DEPOS 3.779.700 0,16 50% 45% 803.56 32 SSB C021 ACF COLLEGE RETIREMENT EQUITIES 3.454.759 0,15 40% 533.4 800 35% 600 33 GIC S/A GOVERNMENT OF SINGAPORE 3.383.414 0,15 720.75 34 BPJS KETENAGAKERJAAN - JK 3.372.100 0,15 30% 400 35 RD BNP PARIBAS EKUITAS - 897634000 3.366.100 0,15 523.12 20% 371.05 36 J.P.MORGAN BANK(IRELAND) RE J.P.MORGAN I 3.237.670 0,14 37 REKSA DANA MANDIRI SAHAM ATRAKTIF 3.175.000 0,14 10% 38 PT ASURANSI JIWA SEQUIS LIFE 3.090.000 0,13 0% -Dividend Payout Ratio Dividend per share (IDR) 39 SSB OBGF S/A ISHARES MSCI INDONESIA ETF- 3.079.350 0,13 40 SSL 2GLH S/A ST. JAMES'S PLACE GLB EQ UN 41 BBH LUXEMBOURG S/A FIDELITY FD SICAV, FD 42 JPMORGAN CHASE BANK NA RE NON-TREATY CLI 3.057.100 0,13 2008 2009 2010 2011 2012 461.97 200 324.57 0 2013 2014 3.024.900 0,13 2.911.300 0,13 43 SSB WTAS S/A WISDOMTREE EMERGING MRKTS E 2.781.126 0,12 2.765.802 0,12 44 CITIBANK LONDON S/A L&G ASSURANCE (PENS Source: Datindo, 03 July 2015 Note: Total outstanding shares of 2,304,131,850 20 20#22Appendix Production Vs Sales 2002 - 2014 17.8 18.0 Index Movement Dec'02 - Jul'15 6000 Sales Production 6.4 15.3 5500 5.1 13.4 5000 3.9 12.9 12.7 12.4 12.5 12.9 4500 Jakmine JCI/IHSG •РТВА 10.0 11.6 4000 9.5 9.5 9.8 9.9 10.8 10.8 3500 9.5 9.6 9.9 9.1 9.2 9.2 3000 2500 2000 1500 1000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 500 0 Revenues Vs Net Income 2002 - 2014 12/20/2002 12/20/2003 12/20/2004 12/20/2005 12/20/2006 12/20/2007 12/20/2008 Coal Price Indexes Dec'02 - Jul 15 (USD/t) 12/20/2009 12/20/2010 12/20/2011 12/20/2012 12/20/2013 12/20/2014 13.10 195.00 180.00 11.59 11.20 10.58 165.00 150.00 Revenues Net Income 8.94 7.90 135.00 120.00 7.21 105.00 90.00 4.12 75.00 3.53 2.99 2.61 2.72 3.08 2.90 60.00 2.16 2.28 2.00 ..70 .82 2.02 45.00 0.17 0.21 0.41 0.46 0.48 .72 30.00 15.00 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 1-Dec-02 1-Dec-03 1-Dec-04 1-Dec-05 1-Dec-06 NEX Index 1-Dec-07 + 1-Dec-08 1-Dec-09 JPU Index 1-Dec-10 + 1-Dec-11 x 1-Dec-12 HBA/ICPR Index 1-Dec-13 1-Dec-14 Bukit Asam 27500 25000 22500 20000 17500 15000 12500 10000 7500 5000 2500 0 21#23Appendix 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 25050 15 10 Bukit Asam Projected Coal Production up to 2024 (Mt) 2020 2021 2022 2023 2024 Acquisition/TE System Peranap Subsidiary 22 2016 2017 2018 2019 2015 ■Current TE System Central Banko A Central Banko B Acquisition Mines#24Andaman Sea THAILAND Nicobar Islands (India) Great Channel Disclaimer: This presentation contains forward-looking statements based on assumptions and forecasts made by PT Bukit Asam (Persero) Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and Ho projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light Cebu VIETNAM of new information or future events. PHILIPPINES* CAMBODIA Gulf of Thailand MALAYSIA Kuala Lumpur These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trends in demand and prices for coal generally and for our products in particular, the success of our mining activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for planned expansion efforts, as well as other factors. We caution you that these and a number of other known and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ materially from those expressed in any forward-looking statement. MALAYSIA Singapore Kuching KALIMANTAN Celebes Sea Bunaken Manado Molucca Sea South Pacific Strait of Malacca Medan Lake Toba SUMATRA Karimata Strait Palembang Bukit Asam Tanjung Enim Lampung Jakarta Sunda Strait Bandung Banjarmasin Makassar Strait SULAWESI Makassar Tana Toraja Java Sea JAVA Semarang Borobudur Prambanan Mount Bromo Surabaya BALI Komodo N.P MALUKU Flores Sea Dili EAST Lombok Strat as Island For More Information: tralia) NUSA TENGGARA TIMOR Banda Sea Contact Mr Hendri Rudiawan Timor Sea Position Head of Investor Relations Ashmore & Darwin Address PT Bukit Asam (Persero) Tbk 250 Kilomendi Menara Kadin, 15th Foor, (Australia) Jl. Rasuna Said, Blok X-5 Kav. 2 & 3, Jakarta 12950, Indonesia Telephone250 +62 21 $254014 Indonesia Facsimile E-mail Website : +62 21 5254002 [email protected] www.ptba.co.id PAPUA Baliem Valley Arafura Sea AUSTRALIA Gulf of Carpentaria PAPUA NEW GUINEA