#1MERDEKA COPPER GOLD Indonesia's World Class Copper Gold Champion Investor Presentation April 2020#2Disclaimer Forward Looking Statements MERDEKA COPPER GOLD This presentation has been prepared by Merdeka Copper Gold Tbk ("Merdeka”) and consists of written materials/slides for a presentation concerning Merdeka. By reviewing/attending this presentation, you agree to be bound by the following considerations: No representation or warranty (express or implied) is made as to the fairness, accuracy, or completeness of the information contained in the presentation or of the views, opinions and conclusions contained in the material. To the maximum extent permitted by law, Merdeka and its related entities, and its respective Directors, officers, employees, agents and advisors disclaim any liability for any loss or damage arising from any use of this material or its contents, including any error or omission there from, or otherwise arising in connection with it. Some statements in this presentation are forward-looking statements. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, estimated revenues and reserves, targets are cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as "will", "expect”, “anticipate", "believe" and "envisage". By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside Merdekas' control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, Merdeka does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in Merdekas' expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based. Neither the provision of this document nor any information contained in this document or subsequently communicated to any person in connection with this document is, or should be taken as, constituting the giving of investment advice to any person. 2#3Merdeka Introduction 5 Assets MERDEKA COPPER GOLD MDKA today consists of five main assets which, in order of management's assessment of future value, are as follows: 1. Tujuh Bukit Copper/Gold Project ("TB Copper Project") 2. Pani Joint Venture ("Pani JV Project") - new expansion project 3. Wetar / Morowali Acid Iron Metal ("AIM Project") - new expansion project 4. Tujuh Bukit Gold Production ("TB Gold Project") 5. Wetar Copper Production 2019 TB Production Gold produced in 2019 was 223,042 ounces • All in sustaining cost ("AISC") of US$620/oz • 19.8 million hours LTI free (1 LTI in March 2020) 2019 Wetar Production • Copper produced in 2019 was 16,777 tonnes • AISC of US$1.86/lb • 7.3 million hours LTI free Management Changes • To reflect the increasing growth profile of the Company, a number of additions to the executive team have been made Mr Simon Milroy has been appointed as Chief Executive Officer Mr Gerick Mouton as Executive Head of Projects Mr Zach Casley as the Executive Head of Exploration and Resources 3#4Indonesia: Right Geological Address MERDEKA COPPER GOLD Indonesia is a significant player in the global mining industry, with significant production of coal, copper, gold, tin, bauxite and nickel • As of 2018, Indonesia held 51 million metric tons of copper resources, the fifth largest in the world The country also holds substantial gold reserves, with world class gold assets such as Grasberg, Tujuh Bukit, Batu Hijau and Martabe Toka Tindung ⚫Resources: 4.0 M oz Au Annual production: 132 k oz Au Produced 1.2 M oz Au since 2012 Martabe •Resources: 7.6 M oz Au •Annual production: 355 k oz Au •Produced 1.9 M oz Au since 2012 US$1.2b acquisition by Pama (Jardines) in 2018 Project AIM Tujuh Bukit 30 M oz Au 8.75 Mt Cu Gosowong Produced 5.7 M oz Au since 2000 Elang 19.7 M oz Au 5.9 Mt Cu Grasberg (Freeport) ⚫Resources: 37.2 Mt Cu, 97.7 M oz Au Annual production: 275 kt Cu, 863 k oz Au · • Produced 15.5 Mt Cu, 53.9 M oz Au since 1987 ⚫Will be the world's largest block cave mine Wetar 0.3 Mt Cu Pani IUP: 2.37 M oz Au COW: 2.30 M oz Au Batu Hijau Resources: 3.8 Mt Cu, 9.0 M oz Au Annual Production: 143 kt Cu, 533 k oz Au ⚫Produced 3.6 Mt Cu, 8 M oz Au since 1999 US$1.3b acquisition of 48% by PT Amman in 2016 4#5A Better Way to Invest in Indonesia with Strong and Reliable Indonesian Shareholders Existing Shareholding Structure MERDEKA COPPER GOLD Provident Capital Partners gojek Valuation: US$10.0b 22.92% 22.75% Saratoga Investama Sedaya TOWER BERSAMA GROUP EV: US$2.6b1 MERDEKA COPPER GOLD Garibaldi Thohir adaro EV: US$2.5b1 8.95% Track Record in 1 2 3 Growing and Financing Indonesia Corporates Strong Governmental, Regulatory and Local Ties Excellent Corporate Governance and Investor Relations No Risk of Divestment under Indonesia Mining Law The shareholders collectively have rich experience in leading and growing businesses in Indonesia, ranging from dynamic tech platforms (Gojek) to well established corporates (i.e. Tower Bersama and Adaro). As a result, the shareholders have established strong relationships with key external stakeholders and have gathered valuable experience to lead companies to growth within the country The shareholders have decades of experience in obtaining permits across Indonesia for their various operating companies including Adaro (portfolio of coal mines), Tower Bersama (tower development in all 34 provinces) and Provident Agro (with over 40,000 Ha of palm oil plantations), demonstrating their ability to resolve community issues and work with national and local governments to develop projects across multiple industries The team's reputation in maintaining excellent corporate governance and reporting standards (voluntary adoption of ASX reporting requirements for Reserves and Resources, as well as quarterly reporting) have attracted quality investors globally in both debt and equity capital markets, achieving overall lower cost of funds and strong support The Indonesian Mining Law requires foreign shareholders to gradually divest portions of their shareholdings by making initial offers to the Central Government of the Republic of Indonesia, Regional or Municipal Governments. With the major shareholders being 100% Indonesian-incorporated or by citizenship, it minimizes the risk of divestment requirements and volatility in share price Note: 1. Market cap as at 8 April 2020; net debt as at 31 December 2019 5#6Growth Delivery with Sound Financial Position Built on Operational Performance 129 Revenue (US$m) 294 403 2017 2018 2019 100 MERDEKA COPPER GOLD EBITDA Hedging 228 Gold Hedge 2020 84,506 oz at US$1,425 oz 158 2019 Nil Copper Hedge 2020 Nil 2017 2018 2019 1 Merdeka Holdco Outstanding Debt¹ US$100m club facility of 4 international banks Closed March 2019 maturing in Sep 2020 Libor + 4.25% • US$100m outstanding balance as at 31 Mar 2020 US$200m syndicated facility of 8 international banks UOB BNP PARIBAS HSBC BARCLAYS UOB 2 Closed October 2018 SMBC ING. ТВ Орсо (PT Bumi . Suksesindo) • 3 year amortizing corporate facility maturing in Q1 2022 Libor + 3.5% HSBC BNP PARIBAS Goldman Sachs • US$130m outstanding balance as at 31 Mar 2020 SOCIETE GENERALE CRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK Comments Strong cash flow generation with consolidated EBITDA of US$ 228 m for 2019 Successful issuance of US$ 300 m debt during H2 2018 and 2019 - US$70 m already repaid as at 31 March 2020 Modest hedging with significant exposure to upside in gold and copper given resource base Building profile of Merdeka in international equity markets to support growth - completion of US$60m equity raise in July 2019 New institutional investors have improved liquidity Analyst coverage from Citi, Credit Suisse, Argonaut, Ciptadana, BNI, Indopremier & Mandiri Note: 1. Debt information as of 31 March 2020 6#7Merdeka Share Price and Liquidity Current Capitalization MERDEKA COPPER GOLD Share Price (IDR)1 1,240 1400 Shares Outstanding (m) 4,380 1200 Market Cap (IDR) IDR26.2tn 1000 Share Price Performance Since IPO Total Growth: +223% CAGR: +28.0% 450 400 350 300 800 250 Market Cap² US$1.6b Net Debt³ US$180.0m 告 600 200 150 400 Enterprise Value US$1.8b 100 200 50 0 0 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Volume Share Price Trading Volume ADTV (US$m) 250% 200% 1 month 10.40 150% 6 month 6.28 100% 12 month 4.98 50% Since IPO 1.27 0% -50% Note: 1. Share price information as at 7 April 2020 2. Using exchange rate IDR 16,200 per USD MDKA Performance vs JCI (since MDKA IPO) Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 3. Using debt number as of 31 Mar 2020 and cash balance as of 31 Dec 2019 MDKA JCI Million shares MDKA: +223% JCI: -3% 7#8TB Gold Project Production Information Coventional Open Pit Mining Method Metals Gold and Silver Mineralisation Type MERDEKA COPPER GOLD Operational & Financial Performance 2017 2018 2019 Unit Actual Actual Actual Open Pit Mining Ore Mined M Tonnes 3.3 5.3 7.4 Waste Mined Contained Metal Heap Leach Production Ore Crushed and Stacked M Tonnes 4.1 9.4 8.4 Au oz 224,784 261,140 279,680 M Tonnes Recovered Metal Au oz 3.2 141,468 4.9 167,506 7.4 223,042 Financials Operating cost US$/t 15.8 16.5 13.4 US$/ oz 297 374 409 All-in Sustaining Costs Sales US$/ oz 425 596 620 US$m 133 235 312 Operating EBITDA US$m 100 155 201 Process Method Recovery Oxide Mineral Reserves Oxide Mineral Resources Workforce High Sulphidation Epithermal Oxide Heap Leach Gold 79% and Silver 13% 0.9 Moz Au contained; 35 Moz Ag contained 1.4 Moz Au contained; 59 Moz Ag contained 2,400 employees and contractors Cash Costs Open Pit Mining Heap Leach Source: Company filings. Reserve information as at 31 December 2019 (http://www.merdekacoppergold.com/en/operation/resources reserves). 8#9TB Copper Project World Class Underground Copper/Gold Deposit TB Gold Open Pit Mines MERDEKA COPPER GOLD Comments • Blue lines extending from the decline denote planned drilling Decline Upper High Grade Zone (UHGZ) Subset of Total Underground Copper/Gold Underground Exploration Target 250-300 Mt @ 0.7-0.9 % Cu & 0.7-0.9 g/t Au From 2025 for +20 years Total Underground Copper/Gold Inferred Resources 1,900 Mt @ 0.5 %Cu & 0.5 g/t Au & 93 ppm Mo ~ Contains approx. 9 Mt Cu & 28 Moz Au incl. UHGZ. Opportunity Post 2050 9#10Resource Copper Grade (% Cu) TB Copper/Gold Project World Class Mineral Resource Significant Porphyry Deposits 0.90% Bubble Size = Resource (Moz AuEq) 0.80% 0.70% 0.60% Oyu Tolgoi Northparkes Grasberg Lookout Hill MERDEKA COPPER GOLD Legend: Wafi-Golpu TB Copper Tujuh Bukit UGHZ First 20+ years Producing Undeveloped Los Volcanes Frieda River 0.50% West Wall Tujuh Bukit Underground Copper/Gold -After first 20 years Tampakan Taca Taca Los Helados Ok Tedi 0.40% Batu Hijau Los Azules Cascabel 0.30% Namosi Malmyzh Cadia Valley KSM Ann Masolitar Productora 0.20% King-king 0.10% NuevaUnion Didipio 0.20 0.40 0.60 0.80 1.00 1.20 Resource Gold Grade (g/t Au) Source: Company Annual Reports and Industry Data 10 10#11TB Copper/Gold Project Latest Drill Results UHGZ Drilling Results to Date Hole ID From (m) To (m) Interval (m) Cu (%) Au (g/t) UHGZ-19-001 556 1,308 (EOH) 752 0.46 0,50 • including 724 904 180 0.63 0.62 including 1,086 1,308 222 0.69 0.91 UHGZ-19-002A 523 1,058 (EOH) 534 0.54 0.95 including 642 770 128 0.89 1.93 including 824 1,016 192 0.58 1.05 UHGZ-19-003 384 732 (EOH) 347.6 1.40 1.40 including 438 666 228 1.71 1.97 MERDEKA COPPER GOLD Comments 13 holes drilled; table shows results for first 3 holes First assays have shown higher than expected grades when compared to the 2012 inferred resource Intercepts above the 0.2% Cu cut-off have been longer than expected 11#12W TB Near Mine Exploration Targeting Open Pit Mineralisation to De-Risk Porphyry Ramp Up Open Pit Mineralisation Targets MERDEKA COPPER GOLD 167000mE 169000ME PT DSI IUP Exploration SALAKAN NORTH WEST SALAKAN NORTH 171000mE) 173000mE SALAKAN EAST SALAKAN KUNDURU LOMPONGAN -- --- ~12 km x 4 km Mineralised corridor with demonstrated epithermal and porphyry Cu-Au potential GUH MACAN RAHASIA TUMPANG PITU WASTE DUMP 175000mE LEACH PAD 177000mE P.T.BUMI SUKSESINDO TUJUH BUKIT PROJECT DISTRICT GEOCHEMICAL DATA 'IN SOIL' SUMMARY DATA Au Cu Mo • SJM May 2016 . 100ppm Cu 75ppb Au 5ppm Mo Sampling limit KATAK GUNUNG MANIS CANDRIAN 9046000mN 9050000mN 9052000mN 9048000mN Comments Salakan Porphyry Historical drilling including SDN-12-01 : 604m @ 0.22 % Cu Exploration to re-commence in 2020 Lompongan Porphyry Prospect • • Cu-Au-Mo soil anomaly defined over 400m x 400m Stockwork mineralisation in rock samples assaying >1 %Cu and >1g/t Au Drone MAG and 3D IP surveys Q4 2019 Diamond drilling Q1 2020 Katak Porphyry Prospect • Historical and BSI drilling WB-15-11: 94m @ 0.35 %Cu & 0.67 g/t Au KTD-18-06 76m @ 0.35 %Cu & 0.96 g/t Au 12#13Wetar Copper Project Production Information Conventional Open Pit MERDEKA COPPER GOLD Operational & Financial Performance Mining Method Metals Copper Mineralisation Type 2017 2018 2019 Unit Actual Actual Actual Open Pit Mining Process Method Plant Capacity - Crushing & Stacking - SX / EW Copper Mineral Reserves Copper Mineral Resources Workforce 2.5 mt 25,000 tpa Volcanogenic Massive Sulphide ("VMS") Sulphide Heap Leach Ore Mined M Tonnes 1.9 1.6 2.3 Waste Mined M Tonnes 1.4 1.4 3.8 Contained Metal Cut 39,384 47,272 66,018 Heap Leach Production Ore Crushed and Stacked M Tonnes 1.9 1.7 1.9 Recovered Metal Cut 23,160 17,071 16,777 Financials 114 kt Cu contained 289 kt Cu contained Operating cost US$/t 29.8 35.4 42.0 Cash Costs US$/ lb 1.05 1.49 1.29 All-in Sustaining Costs US$/lb 1.56 1.73 1.86 1,100 employees and contractors Sales US$m 154 112 101 Operating EBITDA US$m 73 38 41 Open Pit Mining Process Plant Source: Company filings. Reserve information as at 31 December 2019 (http://www.merdekacoppergold.com/en/operation/resources reserves). 13#14AIM Project Wetar (Maluku Province) IMIP (Morowali, Central Sulawesi Province) MERDEKA COPPER GOLD Joint Venture Merdeka Process Ship 700km to Morowali Feedstock 1. Crush/Grind/ Flotation Pyrite Concentrate 2. Roast and Acid Plant Calcine Residue 3. Chloridizing Roast Residue 4. Metal Extraction Products Sold Buyers Sulphuric Acid / Steam (offtake agreement) Iron Ore Pellets (no offtake agreement) Copper, Gold & Silver HPAL JV Stainless Steel JV Other Tsingshan JVs at IMIP On Market Sales 3rd Party Buyers . IMIP Services Power Water Land • Office • Accommodation Transportation • Access • Others Comments • Significant value in spent ore at Wetar (Cu, pyrite (FeS2), Au and Ag) Opportunity to optimise long term production profile across Wetar and AIM Project. Only Soluble Cu recovered at Wetar and other products recovered with AIM Project MOU signed with Tsingshan to develop a pyrite processing plant at the Morowali Indonesian Industrial Park 14#15Wetar Resource Expansion - - Partolang Exploration work has been very successful in finding and developing additional copper and pyrite resources: A significant new resource has been defined at Partolang indicating a viable copper resource close to existing operations Drilling after the cut-off date for the resource update has intercepted high grade mineralisation that is expected to further expand resources Target 3 year mine life extension with additional inferred resource likely to be converted Diagnostic leach tests show copper >80% soluble, superior to Lerokis Confirms success of exploration model 2019 Geophysical Survey 5,146,000 mN MERDEKA COPPER GOLD Wetar Copper Project Prospective Locations 200.000 m 202.000 mE 204,000 mE NEAR MINE PROSPECTS, ANOMALIES WITH REGIONAL ALTERATION & DRILLING 206,000 m 208 000 mE 0.5 Lurang kilometres Lerokis Pit starts Q2 2019 Kali Kuning Pit 2017 - 2019 Partolang - Resource Definition Z8 Z4 Kelapa Tiga Z2 KB1 3KT Plant KK1 li Kuning KK3 25KT Plant Partolang PIT " Barumanu J27/4 KK2 LEGEND Coastline River Lerokis KK4 200.000. 202.000 E 204.000 mE 200.000 m Resources Kayulepa Road Production-Operation/ Exploration IUP Massive sulphide boundary Drillhole Alteration Clay-Chlorite Pervasive clay-silica Silica, Vuggy Silica Barite zone 206.300 E 3,14,000 N ■ Resources at Wetar are Volcanogenic Massive Sulfide (VMS) deposits Tonnes Grade Partolang (Mt) (Cu %) Contained Metal (Cu t) - The deposits generally appear in clusters and it is reasonably likely that more resources will be defined over time Indicated 8.6 1.2 101,000 Inferred 3.5 1.0 35,000 Total 12.1 1.1 136,000 ☐ A geophysical survey was completed during 2019 with approximately 20 targets identified within the mining lease. VMS targets are generally easily identified with geophysics Tonnes Grade Contained Metal Wetar (Mt) (Cu %) (Cut) Measured 8.9 1.6 145,000 ◉ Historical regional exploration work shows many targets that are yet to be tested on Wetar Island Indicated 9.1 1.2 108,000 Inferred 3.7 1.0 36,000 15 Total 21.7 1.3 289,000#16Note: Pani - Commencement of Step-Out Drilling Comments MERDEKA COPPER GOLD Overhead & Cross Sectional Illustration of Planned Step-Out Drilling Between PANI COW & PANI IUP • JV with J Resources to develop a DRILLING LEGEND combined project. Expect to close H1 2020 - Merdeka's economic share is 40% and controls the JV HISTORIC CURRENT/2019 PROGRAMME 62,500 . Expect greater resources to Overhead View • • • reserve conversion and better economics from combined project Outcrops, thick, low strip Initial metallurgical testing shows high recoveries from CIL, heap leach and gravity Currently drilling 11,000 meters in area between existing resources. Two historical drill holes show area is mineralised 62,000 mN PANI COW J RESOURCES' RESOURCE 72.7MT at 0.98g/t Au for 2.30Moz (cut off grade 0.4 g/t Au) Reported 31/12/2018 STEP-OUT DRILLING ! KUD/IUP BOUNDARY Cross Sectional View • Q1 2020 consolidate data with drilling and feasibility to continue in Q2 2020 OPEN FILE 62,200mN Base Oxidati STEP OUT DRILLING 62,000mN MINERAL RESOURCE ESTIMATE 89.5MT at 0.82g/t Au for 2.37Moz (cut off grade 0.2 g/t Au) Reported 3/12/2014 KUD/IUP BOUNDARY - - Potential Pit Shape Drill trace Nա 62,000 mN 1. Two holes drilled by Utah International in 1982 between the two resources, assayed 406m @ 0.5g/t (GPD-04) and 154m @ 0.57g/t (GPD-05) 2. Pani IUP Resource estimate from SRK Report dated December 2014 based on 137 Diamond Drill holes, 26,000m drilling and using cut off grade of 0.2g/t Au 16 62,500#17Growth Plan Production Merdeka - Indonesia's New World Class Mining Company Delivering Its Strategy Actual 2015 2016 2017 2018 2019 223,000 oz 167,000 oz 141,468 oz 17,000 t 17,000 t MERDEKA COPPER GOLD Forecast 2020 & 2021 165,000-185,000 oz Gold Copper Gold Copper Gold Copper Gold IPO on Indonesia Stock Exchange US$130m project finance and US$25m corporate debt Constructed TB Gold Project Construction of TB Gold Project completed and made first gold pour Feasibility study to expand Tujuh Bukit • Concept study completed on TB Copper Project • Wetar acquisition • US$100m . Pani acquisition • US$50m acquisition facility US$200m TB Gold Project Opco term loan . US$92m rights issue • Expanded TB Gold Project plant from 4 mtpa to 8 mtpa Merdeka Holdco bank debt raised • US$60m rights issue • Signed an agreement with JRN to combine Pani resources AIM Project MOU with Tsingshan (signed in Feb 2020) • AIM Project Feasibility Drill results from Pani JV Project Drill results from TB Copper Drill results from Wetar H1 2021 • TB Copper PFS TB Copper Reserves/Permitting 17#18Appendix MERDEKA COPPER GOLD#19Management with Significant Industry Experience MERDEKA COPPER GOLD The management team comprises a group of individuals with rich experience within the industry and within their individual business functions Team Member Experience Joined Merdeka in 2020 Simon Milroy CEO More than 35 years of experience in mining sector including exploration, feasibility studies, permitting, financing, construction, operations and closure Gerrick Mouton Executive Head of Projects Zach Casley Executive Head of Exploration and Resources David Fowler Director/CFO Tri Boewono President Director Peter Scanlon GM Construction Gavin Caudle Executive Director • Previously the GM Corporate Development and Exploration in PanAust Joined Merdeka in 2020 More than 22 years experience in strategic mine development, implementation and execution of multifaceted capital- intensive mining projects on the African continent Previously the Senior Vice President in Ivanhoe Mines Ltd Joined Merdeka in 2020 More than 25 years of experience gained from a variety of roles in operational mines, consulting, mining finance and corporate management including roles at Macquarie and Newcrest Mining Zach is a Fellow of the Australian Institute of Mining and Metallurgy, and a Member of the Australian Institute of Geoscientists Joined Merdeka in 2015 Accountant with more than 25 years of experience in mining sector Acted in various CFO / CEO positions for listed mining companies in Australia, South America and Indonesia More than 10 years of experience as President Director at PT Provident Agro Tbk More than 25 years of professional experience in the economic sector Head of Construction and Development since 2015 Has more than 20 years of experience with Thiess Previously the Head of Construction at Thiess Indonesia Founding shareholder of Provident Capital 15 years ago Former Partner at Arthur Andersen and Head of M&A / Private Equity at Citigroup / Salomon Brothers for Indonesia 19#20Merdeka is ranked 7 in the Top Jakarta Composite Index (JCI) Movers MERDEKA COPPER GOLD With IDR 6.8 tn of total turnover, Merdeka is within the top 10 of JCI movers as of YTD Mar 2020 Top 10 JCI movers in terms of turnover¹ as of YTD Mar 2020 (IDR tn) BCA EUP CA R BANKBRI 42.5 39.1 mandırı Telkom Indonesia MERDEKA COPPER GOLD ASTRA BNI 25.6 20.8 15.0 pgn 13.3 energy for life PT HIM SAMPOLINA TA UNITED TRACTORS SAMPOERNA 6.8 6.1 5.1 4.7 Rank 1 2 3 4 5 6 7 8 9 10 10 Market Cap² (US$b) 42 23 13 19 110 4 1 1 4 10 10 Note: 1. Turnover is calculated by the sum of daily trading value from 1 Jan 2020 to 31 Mar 2020 2. Market Cap as of 31 Mar 2020 using exchange rate of US$/IDR 16,200 Source: Bloomberg and RTI Business 20 20#21Indonesian Morowali Industrial Park (IMIP) World Class Facility Location and Size IMID INDONESIA MOROWALI INDUSTRIAL PARK IMIP's ownership: - Tsingshan Comments JAKARTA Dongala Palu WEST SULAWESI Bangkir GORONTALO Ambesia Marisa Gorontalo Dolong Guil of Tomin Ampana Luwuk Bunta Loed Poso CENTRAL SULAWESI Palopo Sulawesi Kolonodale Bonebone Tola Polewali SOUTH SULAWESI Parepare Sengkang, Indonesia Makassar Watampone Tanete Limbung Gulf of Bon Manado Tomohon Bitung Kotamobagu NORTH SULAWESI Molucca S Padang Tek Matindok Banggail PT. Indonesia Morowali Industrial Park (IMIP) Manse SOUTH EAST SULAWESI Pising Muna Island Buton Island Bau-bau Google Taliabu Island Bobong Wakatobi National Park • 3,000 ha site in Bahodopi District, Morowali Regency, Central Sulawesi Province • MERDEKA COPPER GOLD 66.25% PT Bintang Delapan Group 33.75% Development started in 2014. Tsingshan's stated objective at the time was to create the world's largest fully integrated stainless steel facility This has now been achieved, with the site housing a number of separate Ni/stainless steel joint venture operations Total investment to date > $6 billion The IMIP currently comprises: = - 2.0Mt pa stainless steel capacity (currently expanding to 3.0Mt pa) 0.5Mt pa carbon steel capacity (currently expanding to 3.5Mt pa) - 0.6Mt pa high carbon ferrochrome - 1.5Mt pa NPI capacity (likely expanding to 1.95Mt pa) 1.26GW coal-fired power plant (currently expanding to 1.96GW) - Airport with 2,000 m long runway - Port facilities - 5-star hotel 21