#122 adaro The Adaro Group Presentation Aug 2023#2Disclaimer adaro These materials have been prepared by PT Adaro Energy Indonesia Tbk (the "Company") and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. The Company or any of its affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed. These materials contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as "expects," "plan," "will," "estimates,” “projects," "intends," or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward- looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice. 2#3Snapshot of the Adaro Group $4 A Production, FY22 62.88 Mt (+19% YoY) Thermal and Met split is 94%:6% FY22 Sales/Core Earnings $8.1 billion/$3.0 billion *+royalty $ adaro FY22 FCF $2.8 bn with div of $1 bn and capex of $424 mn $ 1H23 Cash of $2.7 bn to fund growth capex in minerals and green ADMR Investing in met coal and 1.5 mt of aluminum smelter Adaro Green investing in hydro, solar, and wind IPP 3#4The Adaro Group: Three Business Pillars for a Bigger and Greener business Pursuing sustainable growth driven by the green economy adaro ENERGY Stock ticker: ADRO adaro MINERALS Stock ticker: ADMR adaro GREEN Main operating pillar: pit-to-power integration to provide reliable and affordable energy • Core thermal coal operations in Indonesia supported by the group's mining services and logistics contractors, and the Adaro Power business through PT Adaro Energy Indonesia Tbk (IDX: ADRO) Provides the cash flows that serve as the foundation to fund the Adaro Group's diversification strategy. Growth pillar: metallurgical coal, and minerals and minerals processing for green economy • • Metallurgical coal operations in Indonesia through PT Adaro Minerals Indonesia Tbk (IDX: ADMR). Downstream processing of minerals for EV battery ecosystem in Indonesia through Aluminum facility at Kaltara Through this pillar, Adaro Group is committed to achieve growth in a more sustainable manner. Growth pillar: renewable energy to support downstream processing and diversification of Indonesia's energy mix • Developing green energy sources: hydro, solar, wind - and continue to actively participate in tender of renewable power plants. Supplies the renewable energy requirement for green downstream processing.#5Through Adaro's 3 pillars of growth, we are well positioned to capture these opportunities, now and in the future Adaro has the necessary skillset... $ Strong balance sheet and financial capabilities ...to capture these opportunities adaro Operating metallurgical coal mine in Indonesia & Australia Proven track record in building and operating large-scale, complex projects Deep experience and knowledge in Indonesia's mining and Electricity sector Strong ownership and management team with extensive connections Plan to build a 1.5 million tons aluminium smelter with 500 k already under construction Building one of the world's largest green industrial estates in North Kalimantan, including plans to build several GW of hydro power & Solar PV plants. 1.375 GW of hydro already started construction. Continue developing renewable energy projects within the region, with a continuously growing pipeline of solar, wind, and hydro assets. Adaro will continue to explore opportunities to serve the green mineral and green energy needs of the new economy 5#6Summary of PT Adaro Energy Indonesia Tbk Core Earnings adaro 3,500 3,000 2,500 2,000 Adaro Energy Indonesia Production and Sales 70 60 70 60 Production (Mt) HN 50 50 40 30 20 40 30 20 1,000 10 10 0 0 2018 Tutupan 1H23 Wara Total Sales fl 2019 Capital Expenditure USD (in millions) 600 500 400 300 200 100 Paringin 2020 2021 Balangan 2022 ADMR II..I FY18 FY19 FY20 FY21 FY22 MIP 1H23 1,500 \..... 500 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY22 1H23 Thermal Coal Sales by Destination in 1H23 ortheast Asia 19% India 11% Indonesia 25% O Southeast Asia 23% China 23% FY22 1H23 6#7Adaro Energy Indonesia's Performance Continue to deliver consistent results and strong cash flows adaro OPERATIONAL 1H23 1H22 Change Production (Mt) 33.23 28.01 19% Sales (Mt) 32.62 27.49 19% OB removal (Mbcm) 129.83 102.05 27% FINANCIAL ($ millions, unless indicated) 1H23 1H22 Change Revenue 3,479 3,541 -2% Core Earnings 1,024 1,447 -29% Operational EBITDA 1,393 2,339 -40% Cash 2,762 2,244 23% Net Debt (Cash) (1,324) (770) 72% Capex 269 157 71% Free Cash Flow 933 1,040 -10% Operational EBITDA Margin 40% 66% -26% Net Debt (Cash) to Equity (x) (0.19) (0.14) 35% Net Debt (Cash) to Last 12 months Operational EBITDA (x) (0.32) (0.20) 60% Cash from Operations to Capex (x) 0.27 8.63 -97% 7#8Summary of PT Adaro Minerals Indonesia Tbk Adaro Minerals Key Financial Highlights Adaro Minerals Metcoal Production (Mt) adaro MINERALS OPERATIONAL 1H23 1H22 Change 3.8-4.3 Production (Mt) 2.54 1.53 66% Sales (Mt) 1.82 1.28 42% We expect consistent volume growth, reaching 6 MT+ in the medium term. 3.4 Overburden removal (Mbcm) 7.55 3.50 116% 2.3 FINANCIAL ($ million) 1H23 1H22 Change Net Revenue 463 435 6% 1.0 Core Earnings 168 206 -19% Operational EBITDA 235 288 -18% Operational EBITDA Margin 51% 66% -15% 2020 A 2021 A 2022 A 2023 F Sales by Destination 1H23 Adaro Minerals Strip Ratio Remains Very Low Korea 8% 4.0 Indonesia 3.5 10% Japan 3.0 35% 2.5 2.0 China 20% 1.5 1.0 2020 A 2021 A 2022 A 2023 F India 28% 8#9The world's largest Green Industrial Park Strategically located in North Kalimantan . • Located in a very strategic location in terms of export & import, and potential supply of mineral sources and smelting industries Total area of 16,000 Ha, consists of 2 (two) large overlay area 11,500 Ha and 4,700 Ha - Potential development of a large-scale public port to support the industrial logistics • Huge potential of Hydro Power Plants development to power the industrial estate G20 A Potential Power Generators იი adaro - Potential Tenants: Green Industry Renewable Fuels Battery Electric Vehicle Temary Cathode Aluminium Smelter Powered by renewable power generators e.g. Hydro, Solar PV Blue Industry Petrochemical Polycrystalline SWicon Steel Production Nickel Powered by Coal Fired Power Plant, Gas Plant & Hydro Power Hydro Power Solar Biomass Gas Coal PV More than 10 GW power potential 6#10Aluminum Smelter in Kaltara Industrial Park Scope of project is 1.5mt of Aluminum production OOOOO 4 adaro Production capacity: 500,000 tpa Potential replication of Phase I: Additional production capacity of up to 500,000 tpa aluminum. Adaro may invest in the smelter's power generation. Power generation will likely be a aluminum. Adaro plans to invest in the hybrid of coal and renewables. smelter's power generation. Additional capacity of up to 500,000 tpa of Green Aluminum. Adaro plans for this to be powered by hydro. 10#11The Green Economy Driving demand for Green Minerals adaro ADMR is actively pursuing offtake agreements with producers of the below technologies. Electric vehicle Wind technology Solar technology 13 ΑΙ Aluminium 28 Ni Nickel 3 Li Lithium 26 Fe 13 Iron ΑΙ Aluminium 30% More Aluminium used in electric vehicles than internal combustion engines 90 Metallurgical coal needed to produce Steel for each MW of wind power 7 tons tons 35 kg Nickel needed in a single car lithium-ion battery pack 50 120 Steel needed for each MW of wind power (depending on offshore or onshore) tons 4M tons Aluminium for 1 MW of wind turbine 8 kg Lithium needed in a single car lithium-ion battery pack 1 ton 14 Si Silicon 13 AI Aluminium Polysilicon needed for each MW solar PV plant Aluminium demand from the solar power sector by 2040 12#12Global Aluminum Demand Outlook Industry 2018 2040 Remarks Higher demand for electric vehicle, especially for battery packaging and heat sink. Penetration to reduce vehicle weight and use of gasoline. • Transportation 25MT 43MT Building and • Urbanization and growing construction industry. 22MT 29MT Construction • Penetration for building materials. Consumer and 15MT 21MT • Increasing demand for consumer and industrial products. Industrial . Increasing demand for tin packaging. Packaging 13MT 19MT . Increasing demand for foil and plastic substitution. • Energy 11MT 16MT • Increasing demand for energy sector application, such as solar panel structure. Copper substitute for transmission cable. adaro MINERALS Demand for aluminum is estimated to increase on the back of economic growth in Asia. Demand for aluminum will be supported by the increase in transportation sector, in line with the commitment of global citizen and the transportation industry to increase the production of new energy vehicle. 13#13Adaro Green adaro GREEN#14Development of Renewable Energy for Green Business Transformation adaro • • Technology Hydro Power Plant Mini-Hydro Power Plant Pipeline potential (according to RUPTL 2021) Solar PV + Battery Energy Storage System (BESS) Wind Turbine + Battery Energy Storage System (BESS) 11 GW targeted by PLN 1 GW targeted by PLN 4.8 GW targeted by PLN ~500 MW • • Recent projects Recent projects status 1.375 GW Mentarang hydro power plant Finalization of Offtake agreement 4 MW captive power to PT Maruwai Coal (PTMC), a subsidiary of Adaro Minerals' Selection process of EPC contractor 8 MWp/4MWh captive power to PT Adaro Indonesia Development 70 MW Tanah Laut with PLN as off taker PPA signed 15#15Indonesia's Largest Hydro Power Plant ASEAN INDONES A 2023 0 MALAYS GROUNDBREAKING PLTA MENTARANG INDUK PT KAYAN HYDROPOWER NUSANTARA PRE oleh EN REPUBL NDO S MALIN MA Mentarang Induk HEP Malinau Tidangpale Tanjung Selor North Kalimantan KHN Nunukan Tarakan Tanjungredeb INDN SIA MAJU Kaltara Industrial Park adaro • • Planned installed capacity of 1,375 MW, with the potential to generate approximately 9 Terawatt hours (TWh) per annum. Located in North Kalimantan, this power plant will provide affordable, reliable, and sustainable energy to support the Kaltara Industrial Park. COD is estimated in 2030. Will use the Concrete Faced Rockfill Dam (CFRD), designed with a dam crest height of 235m and crest length of 815m. This hydro power plant will have one of the world's tallest dams. 16#16One of Indonesia's Largest Wind IPPs Pontianak Palangkaraya Tanjung Selor Samarinda Balikpapan Banjarmasin ASEAN Tabanio Talok Batakan 114.4008 114-499E Pelaihari BUMN TOTAL eren adaro PiBi PLN Penandatanganan Perjanjian Jual Beli Tenaga Listrik PLTB Tanah Laut 70 y dengan Battery Energy Storage System 10 MW/10 MWh Jak 4 Mei 2023 E adaro • . Planned installed capacity of 70 MW with battery energy storage system (BESS) of 10 MWh. Located in South Kalimantan, this power plant will provide affordable sustainable energy to support PLN's grid within South Kalimantan. COD is estimated in 2025. This is a consortium made up of Total Eren, PT Adaro Clean Energy Indonesia, and PT PJBI (PLN's subsidiary IPP). 17#17Integrating the Value Chain for Solar PV and BESS adaro Signing of MoU for Renewable Energy and Industrialization Opportunity of Solar PV/BESS Spply Chain in Indonesia March 2023 . • Signed MoU to develop the industrialization of solar panel supply chain in Indonesia, which include solar photovoltaic and battery energy storage systems. Supporting the government's plan in development of domestic solar power industry and infrastructure. This is a consortium made up of PT Adaro Power, PT Medco Power Indonesia, and PT Energi Baru TBS. 18#18Recently energized captive solar PV ~600 kWp to supply to our mining area adaro 00000000000 We have installed 130 kWp PV Rooftop, and another 468 kWp PV Floating (one of the largest operational floating PV in Indonesia) The project is expected to generate 156,000 kWh/year and serves a captive market to support Adaro Group's mining operation. Environmental impact of this project includes replacing 33,000 liters of diesel per year, and avoiding emission of 98 ton CO2/year. 19#19PLN targets 25GW of green energy needs by 2030 Excluding any captive projects, an area that Adaro is focusing on 102 GW of installed capacity by 2030 Renewable Energy PLTG/MG/GU/D PLTU дов 11.3GW Hydropower 5.8GW Geothermal 4.8GW Solar 2.7GW Others (incl Wind, bio-gas/mass & WTE) The increased demand for green minerals will drive further need for green energy Source: RUPTL 2021-2030 adaro 20 20#20adaro adaro Adaro Energy#21FY23 Guidance provides cash to invest in EV value chain and renewables. Sales volume (Mt) Consolidated planned strip ratio (bcm/t) adaro 62-64 61.34 59.2 5.1 54.40 4.7 54.14 51.58 4.2 4.2 3.8 3.8 2018A 2019A 2020A 2021A 2022A 2023F 2018A 2019A 2020A 2021A 2022A 2023F Kestrel Saleable MetCoal Production (Mt) 4.8 Consolidated capital expenditure ($m) 6.8 6 5.7 5.7 5.7 496 489 2018A 2019A 2020A 2021A 2022A 2023F 2018A 2019A 193 169 2020A *)Exclude expenses related to Kaltara 400 - 600 424 2021A 2022F 2023F* 22#22Why Adaro Solid Foundation • adaro Integrated energy company with strong footing in the energy industry. Positioned for Sustainable Growth Capturing Opportunities in Green Economy Consistent Dividend Payment and Shareholder Return Industry Leading Cost Position Experienced Management Team Commitment to ESG Strong Cash Generation • • • • • Integrated business model enables us to control cost and manage risks better, ensuring business sustainability. Well positioned to capture the opportunity through ADMR, which will focus on managing and developing our non-coal mineral assets. Cumulatively from 2008, we have paid approximately US$2.9 billion in dividends with average payout ratio of 47%. Cost competitiveness resulted in one of the highest operational EBITDA margins in the sector, reaching 62% of operational EBITDA margin in 2022. Management has been consistent with strategy execution while also being nimble in reacting to business developments PT Adaro Indonesia received 5th PROPER Gold Award MSCI ESG rating of BBB. Adaro generated $2.8 billion of free cash flow and net cash of $2.6 billion in FY22 which will fund our business transformation. 23#23Regulatory Updates adaro Conversion of CCOW to IUPK Continuation of Al's CCOW. Government Regulation (PP No 15 of 2022) stipulates the changes in the commercial terms: royalty rate, CIT rate, and additional profit sharing with the regional and central government. 1 2 3 Royalty rate CIT Non-tax state revenue (government's portion - from CCOW IUPK 13.5% 45% 14% -28% 22% net income) - Central Gov't - Regional Gov't 4% 6% In line with conversion to IUPK, Al's concession size has been reduced, but does not affect our operation or our reserves. Change in the royalty rate of IUP This impacts MIP and Balangan Coal mines, representing approximately 17% of 2022 production. The royalty going forward will be based on HBA pricing and could increase to between 7% -10.5% from 3% - 5%. 24#24Regulatory Updates Change in the formula of Harga Batubara Acuan (HBA) adaro Indonesia has introduced the reformulation of HBA to better reflect the value of Indonesian coal. The new HBA has three coal categories: HBA (6,322 kcal GAR), HBA I (5,200 kcal GAR), and HBA II (4,200 kcal GAR). The HBA will be derived from an average of actual traded Indonesian prices - 70% is based on the average price of the second and third weeks of the previous month and 30% is based on the average price of the first week of the previous month and the fourth week of the previous two months. 25#25Large Reserves and Diverse Portfolio across Indonesia and Australia 1 Adaro Indonesia: 88.5% Existing, S Kalimantan sub-bituminous Reserves: 682 Mt Resources: 3.2 Bt 2 Balangan Coal Companies: S Kalimantan sub-bituminous Reserves 118Mt Resources: 257 Mt 3 PT Adaro Minerals Indonesia Tbk (AMI): Central and East Kalimantan Metallurgical coal Reserves: 165 Mt Resources: 975 Mt 4 MIP: 75% stake S Sumatra sub-bituminous Reserves 207 Mt Resources 301 Mt adaro As of 31 December 2022, AEI has more than 8 billion tonnes (Bt) of resources and 1.3 Bt of reserves across thermal and metallurgical coal - providing us with flexibility in the coal market. 5 BEE: 61.04% stake S Sumatra sub-bituminous Geological study phase 6 BEP: 18.5% stake with option to acquire 90% E Kalimantan sub-bituminous Resources 3.3 Bt 7 Kalimantan 5 Sumatra 7 NT 4 QLD Kestrel Coal Mine 48% of 80% Queensland, Australia WA Premium HCC SA NSW Reserves: 184 Mt Resources: 421 Mt VIC Java 1 2 6 Sulawesi Note: Reserves and Resources numbers above are before taking into account AEI's equity ownership 26#26Solid Financials Backed by Strong Operations Financial position continues to improve adaro Strong cash balance and free cash flow generation 2,500 2,000 1,500 1,000 500 20 26221 70 60 50 40 Production (Mt) 0 5,000 60% 4,000 40% 3,000 20% 2,000 0% 1,000 -20% -40% FY18 FY19 FY20 Interest Bearing Debt FY21 FY22 Debt to Equity 1H23 Adaro Historical Production FY18 FY19 FY20 FY21 FY22 1H23 Cash (million US$) I FCF (million US$) Capex (million US$) 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Tutupan Wara Paringin Balangan ADMR MIP -SR 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 Strip Ratio (x) 28#27Industry Leading Efficiency One of the lowest cost operators in Indonesia Adaro's estimated coal cash cost breakdown (1Q23) Fixed overhead, 5% adaro Electrification to reduce the usage of diesel gensets Coal processing, 10% Mining, 35% - 40% Freight & handling, 20% Fuel, 25% - 30% Strong operational EBITDA generation and healthy operational EBITDA margin Operational EBITDA and Margin 6,000 5,000 62% 53% 4,000 40% 39% 35% 35% 3,000 5,030 2,000 1,000 2,104 1,315 1,408 1,207 883 2017 2018 2019 2020 2021 2022 Operational EBITDA (US$ M) Operational EBITDA Margin 70% 60% 50% 40% 40% 30% 20% 10% 1,393 0% 1H23 Consistently delivers on operational EBITDA target and performed in-line with guidance. Healthy operational EBITDA margin on the back of better cost control from integrated business model. 29#28Well Positioned Product and Strong Customer Base Focused on Asia ASH% (adb) Ash content: 2%-3% (adb) 20 15 10 5 envirocoal Envirocoal is among the lowest pollutant content coal in the seaborne market Nitrogen content: 0.9% - 1.0% (daf) Sulfur content: 0.1% - 0.25% (adb) Nitrogen % (daf) 30 2.5 2.0 1.5 1.0 envirocoal 0.5 0.0 Thermal Coal Sales by Destination (1H23) Northeast Asia 19% India 11% Indonesia 25% China 23% Southeast Asia 23% Total Sulfur % (adb) 30 2.5 2.0 1.5 1.0 0.5 envirocoal 0.0 Customer type by volume (1H23) Others, 10% Power Plant, 90% adaro *others include cement, pulp & paper, and industrial 30#29Operates Mining Services and Logistics to Ensure Operational Excellence Key part of our vertical integration. Ensures operational excellence, productivity improvement and timely reliable delivery to customers. Stable earnings profile buffers against the volatility in coal price. Focus on providing services for companies in the Adaro Group. adaro LOGISTICS adaro Units 1H23 1H22 1H23 vs 1QH22 Overburden Removal Mbcm 100.04 84.55 18% SIS Coal Transport to Port Mt 31.12 26.85 16% MBP Coal barging Mt 31.51 25.96 21% 31#30One of Indonesia's largest IPPs Adaro Power's gross power generation capacity stands at 2,260 MW adaro Size / Tech. Shareholders COD Makmur Sejahtera Wisesa - CFPP Availability Factor 2 x 30 MW CFB technology 100% Adaro Power #1 Jun 2013, #2 Feb 2014 80% (Avg. 1H23) Adaro Mining Electrification Current: 11.7 MW Plan: additional 17.9 MW Makmur Sejahtera Wisesa - Solar PV Size 130 kWp + 467 kWp Shareholder 100% Adaro Power COD Q3 2018 (for 130 kWp) & 467 kWp COD 27 December 2021 Project cost USD 800,000 (approx.) Electricity produced 395.26 MWh (1H23) Bhimasena Power Indonesia - CFPP Size / Tech. Shareholders Project cost Availability Factor 2 x 1,000 MW Ultra Super Critical 34% AP, 34% JPower, 32% Itochu USD 4.2 billion 87.22% (Avg. 1H23) Tanjung Power Indonesia - CFPP 2 x 100 MW CFB technology 65% AP, 35% Korea EWP USD 545 million Size / Tech. Shareholders Project cost COD 2019 Availability Factor 94.3% (Avg. 1H23) Apart from improving the performance of its already-operated power plants and completing the construction, Adaro Power continues to study renewable power projects such as biomass, wind power, and solar PV to support PLN through unsolicited proposal and tenders. Adaro Power is also in the process of developing captive use power generation projects for the Group's other business units such as IBT (Genset & Solar PV) and ADMR (Mini-hydro) 32#31Owns & Operates 1,670 lps of Water Treatment Plants Also Supports Mining Operations through Slurry Management Business Unit Dumai Tirta Persada Location : Dumai, Riau Size : 450 lps Adaro Shares : 49% Status : First phase 1 (50 lps) completed 2 Bekasi, West Java Grenex Tirta Mandiri Location : 200 lps Adaro Shares Status : 49% Size : Started construction adaro Drupadi Tirta Gresik Location Size Adaro Shares Status 3 Gresik, East Java : 400 lps : 100% : In operation since 2012 Adaro Wamco Prima Location : Tanjung, Business Adaro Shares Status : 60% South Kalimantan : Mining pump services : Operation Drupadi Tirta Intan 5 Location Banjar, South Kalimantan Size : 500 lps Adaro Shares Status : 100% In operation since 2012 2 6 5 3 Adaro Tirta Mentaya Location Size Adaro Shares Status Sampit, Central Kalimantan : 320 lps (contract), 400 lps (capacity) : 90% In operation upto 250 lps 6 Adaro Water is currently in the process to achieve operational excellence through continuous improvement in its operating subsidiaries, including WTPs operations and slurry pumps operations. Meanwhile, on the construction side, Adaro Water continues to ensure that the project can achieve its goals in terms of schedule, budget & quality. From business development perspective, Adaro Water continues to actively seeking for new projects through PPP, non PPP and acquisition. 33#32adaro MINERALS PT Adaro Minerals Indonesia Tbk (IDX:ADMR)#33Adaro Minerals Indonesia at a Glance adaro MINERALS Indonesia's leading metallurgical coal producer with low-cost, efficient operation supported by Adaro Group's integrated supply chain network Five CCOW holders located in Central and East Kalimantan, Indonesia. Large coal reserves and resources base which supports long-term sustainable growth. Coal reserves: 170.7 Mt. Coal resources: 980 Mt. Coal production in 2021 reached 2.3 Mt, and in 2022 coal production reached 3.37 Mt (▲ 46% y-o-y). Aiming at 6 Mtpa in 2025. Strong demand profile from blue-chip steel companies. Current customers are located in China, Japan and Indonesia. Offers coal supply diversification for customers in a market dominated by Australia, Canada and the US. Close proximity to key markets offers customers with more competitive cost and shorter transportation time. 35#34Company Overview - ADMR Established in 2007, Adaro Minerals carries out an integrated mining activities through its subsidiaries, which has one of the largest greenfields area in Central Kalimantan for metallurgical coal. The Company's subsidiaries own 5 Coal Contract Of Work ("CCOW") located in East Kalimantan and Central Kalimantan with total area up to 146,579 ha. The 5 CCoWs are in the operation and production operation development stages: Maruwai Coal is currently operating and selling metallurgical coal, Lahai Coal is conducting mining optimization, meanwhile Kalteng Coal, Sumber Barito Coal and Juloi Coal are in development phase. CENTRAL KALIMANTAN PROVINCE Pump house Conveyor Line S05 Workshop Foto Udara Area Wara Coal Crusher PT. JPI adaco SERVICES JULO KALTENG SUMBER BARITO MARUWA CCOW STAGE COALS Lahai Green Coal LAMP adaro MINERALS EAST KALIMANTAN PROVINCE LAHAI Maruwai Hard Coking Coal, Green Coal Metallurgical Coal Kalteng Met-Coal Conveyor S04 & Line Hopper 2 Juloi Met-Coal Sumber Barito Met-Coal Power House Notes: Operation Production Operation Development Cokes 36#35Large Coal Resource and Reserves Coal Resource Company / Locality Total Coal Resources Measured (Mt) Indicated (Mt) (Mt) Inferred (Mt) Compliance Standard LC - Haju 4.4 3.8 0.4 0.1 JORC adaro MINERALS One of the largest undeveloped met coal reserves and resources globally (Green Coal) MC Lampunut 105.4 98.4 6.9 0.2 JORC (Metallurgical and Green Coal) JC - Juloi Northwest 629.8 269.6 360.3 JORC (Metallurgical) JC Bumbun 174.5 60.4 57.8 56.4 JORC (Metallurgical) KC - Luon 50.9 24.7 19.3 6.9 JORC (Metallurgical) low ash, low SBC - Dahlia Arwana 15.0 6.5 6.5 2.0 JORC (Metallurgical) Premium quality hard coking coal with phosporus, and high vitrinite content TOTAL 980.0 193.8 360.5 425.7 Coal Reserves Company / Locality Total Coal Reserves (Mt) Proved (Mt) Probable (Mt) Compliance Standard LC - Haju 2.3 2.3 0.03 JORC (Green Coal) Long reserves life, based on current production MC Lampunut 89.6 81.2 8.4 JORC (Metallurgical and Green Coal) JC Bumbun 55.5 55.5 JORC (Metallurgical) KC - Luon 17.7 17.7 JORC (Metallurgical) *Coal Reserves and Resources data is as of August 2021 from independent consultant PT Quantus Consultants Indonesia SBC - Dahlia Arwana 5.6 5.6 JORC (Metallurgical) TOTAL 170.7 83.4 87.2 37#36Established Infrastructure to Ensure Operational Excellence Lampunut Coal Handling and Processing Plant Crushing Plant: 600 tph adaro MINERALS One of the largest CHPPs in Indonesia in terms of capacity Reduces ash from 12% ad to 4.5% ad WASHING - 3 Process Circuit Hydrocyclone & Spiral DMC 1.4 - 50 mm 0.25 1.4 mm Floatation 0.25 mm Washing Plant : 525 tph (max: 550 tph) 38#37Supply Chain: from Coal Terminal to Vessel Loading Points 115 30'0″E Adaro MetCoal 11700°E Truck 30-40 ribu ton (76 km) PURUK CAHU Truck 22-33 ribu ton (44 km) PROVINSI KALIMANTAN TIMUR Pelabuhan Tuhup TENGGARONG SAMARINDA BONTANG MUARA TEWEH Batas tinggi air 11,4 m A Hasan Basri 334 km PROVINSI KALIMANTAN TENGAH Tongkang 4 ribu ton (2-3 hari) Pelabuhan Kelanis PALANGKA RAYA BUNTOK Tongkang 8-10 ribu ton (2 hari) B Tumpang Leung C Jembatan Kalahein ISP TANAH GROGOT ANG Adarp Indonesia PARING AMUNTAI Balangan Coal BARABAL KANDANGAN RANTAU MARABAHAN KUALAKAPUAS 3 BANJARMASIN MARTAPURA BANJARBARU Pelabuhan Taboneo PELAIHAR PROVINSI KALIMANTAN SELATAN KO TABARU BALIKPAPAN Dalam tahap pembangunan Beroperasi satu shift pada siang hari (pukul 5 pagi-5 sore) per hari Indonesia Bulk Terminal 115'30'0°E 5.00 So Barge-to-barge adaro MINERALS BU CARLOTA 6 Okt 2020 13.28.12 Barge-to-vessel FATRANE Bulk Terminal 39#38Competitive Advantages Committed to develop the community and minimize environmental CSR and impact through various green initiatives Green Initiatives Lampunut is a very low- cost mine, ranked within the lowest quartile in the global cost curve Low cost Low ash Low phosphorus Product Quality High vitrinite Competitive Advantages The manage- ment Position Coal Resources and Reserves adaro MINERALS Lampunut is the first and only HCC in Indonesia (Source: IHS Markit) The western mines projects are one of the largest greenfield projects in the world Managed by seasoned Adaro executives and engineers with proven track record of creating maximum sustainable value 40 40#39adaro adaro Sustainability and Green Initiatives#40Balance of People, Planet and Purpose Key programs in Corporate Social Responsibility Education Economic development Health Environmental enhancement MSCI ESG Rating History AAA AA A Socio-cultural Enrichment BBB BBB BBB BB BB B B CCC Jun-19 May-20 Aug-21 Jul-22 Green Initiatives to Reduce Emission adaro Solar PV Biomass Co- Firing Biodiesel Fifth PROPER Gold Award 42#41Improving Environmental Performance Terajoule Reduced total energy consumption by 21% y-o-y 35,000 30,000 25,000 20,000 15,000 10,000 5,000 2019 2020 2021 Fleet Management System reduces queueing time and energy used Ton Co2 eq adaro ...and reduced GHG emission (scope 1) by 22% y-o-y 2,500,000 2,000,000 1,500,000 1,000,000 500,000 2019 2020 2021 Innovative projects to improve efficiency and environmental performance NAMO ר .. Kelanis Smart Inverter Solar Cell reduces diesel usage and CO2 emission 43#42Ecosystem Restoration and Carbon Capture adaro Through Adaro Land Pillar, we have subsidiaries which own forest management permits for ecosystem restoration and forest management permits for carbon absorption. PT Alam Sukses Lestari holds license to use timber product - ecosystem restoration in natural forest which allows restoration of forest ecosystem to achieve balanced biodiversity. PT Hutan Amanah Lestari holds license for utilization of carbon absorption and is one of the largest holders of such license in Indonesia. We expect that once operational, carbon trading will be the main business of this company. 44#43Reclamation and Rehabilitation Start 6 months + 5 Years adaro 45#44Awards and Recognitions 2013 2014 2015 2016 adaro 2017 PROPER green award Ministry of Environment & Forestry Aditama gold award For environmental excellence in the coal sector Ministry of Energy & mineral resources Global CSR bronze award For sustainable clean water program Pinnacle Group Global CSR PROPER green award Ministry of Environment & Forestry Aditama gold award For environmental excellence in the coal sector Ministry of Energy & mineral resources Bronze sustainability award For sustainable investment RobecoSAM PROPER green award Ministry of Environment & Forestry Cultural based community empowerment award Awards in several categories Corporate Forum for Community Development & Ministry of Human Dev Bakti Husada award For community health development Ministry of Health PROPER green award Ministry of Environment & Forestry Global CSR bronze award For community-led sanitation Annual Global CSR & Summit Padmamitra award For poverty alleviation Ministry of Social Affairs PROPER green award Ministry of Environment & Forestry Aditama gold award For environment excellence in the coal sector Ministry of Energy & mineral resources Best of environmental management & safety award Ministry of Energy & mineral resources 2018 PROPER green award Ministry of Environment & Forestry Aditama gold award For environment excellence in the coal sector Ministry of Energy & mineral resources Best of coal mining service business management & safety award Ministry of Energy & mineral resources 2019 PROPER gold award Ministry of Environment & Forestry Global CSR award, one gold and two silver For early childhood education program, CSR Leadership and environmental excellence in leader program. Annual Global CSR & Summit 2020 PROPER gold award Ministry of Environment & Forestry MSCI ESG Ratings upgraded to BB MSCI Charity and Community Impact Coaltrans Asia Best Implementation of Good Mining Practices MoEMR 2021 PROPER gold award Ministry of Environment & Forestry MSCI ESG Ratings upgraded to BBB MSCI Best Environmental Excellence Award - Silver Global CSR Summit & Awards Aditama award Good mining practices MoEMR 2022 PROPER gold award Ministry of Environment & Forestry Global CSR Gold Award For Excellence in Provision of Literacy and Education Annual Global CSR & Summit Green Initiative Award Recognizing the company's initiatives to diversify and increase share of new and renewable energy Katadata 46#45adaro adaro Industry Outlook#46Prices Remain Near Historical Highs 500 450 400 350 300 250 200 150 100 50 0 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 -NEX (US$) ICI 3 (US$) ICI 4 (US$) -HBA (US$) Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Prices continue to fluctuate. Demand from China has supported Indonesian thermal coal imports. Indonesian coal demand is still expected to be high due to its competitiveness and unique characteristics. Apr-23 adaro 48#47Seaborne Thermal Coal Demand and Supply Outlook Million Tonnes Global thermal coal imports demand (Mt) 1200 1000 800 600 400 200 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 China India East Asia Southeast Asia I Other South Asia Middle East Sources: Adaro Analysis Coal remains as significant part of energy mix in emerging economies in Asia Million Tonnes Global thermal coal supply (Mt) 1200 1000 800 600 400 200 adaro 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Indonesia Australia Russia Colombia South Africa USA Others Despite push towards renewable energy, emerging economies in Asia still rely on coal for electricity generation due to its availability and affordability. As the world aims to reduce carbon emission, demand for coal will be affected. 49#48Million Tonnes Seaborne Metallurgical Coal Demand and Supply Outlook Global metallurgical coal imports demand (Mt) Global metallurgical coal supply (Mt) 350 300 250 200 150 100 50 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 China India Japan South Korea Sources: Adaro Analysis • Europe Others Underinvestment and Robust Demand expected to lead to Undersupplied market adaro 350 300 250 200 150 100 50 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 Australia Canada I United States Mongolia Russia Mozambique Indonesia Others The long-term outlook shows a positive and stable growth of demand and supply. India to be the main driver of growth for the next decade, outpacing China and Japan. Australia continues to be the main supplier in seaborne market, but supply growth will be constrained due to underinvestment in some supplying countries. 50#49adaro Coke capacity increase 25 Indonesian Long-Term Demand Remains Robust Supported by growing downstream activities in Indonesia Coal Fired Power Plant Capacities in 2021 - 2030 50 50 40 40 ¾ 30 20 20 15 Million Tonnes 10 10 5 0 Indocoke 2024 Dexin Steel 2021 2022 2023 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Source: RUPTL 2021 - 2030, ESDM 2022, APBI Risun Wei Shan Krakatau Steel Detian Coking KinXiang Krakatau POSCO Tsingshan Kinrui 20 20 10 CFPP capacity continues to increase to support the transition in minerals processing and refinery in Indonesia. Indonesia coke capacities are expected to reach 21 Mt in 2024, which translates to 35 Mt of metallurgical coal consumption. 51#50Thank you adaro