#1Bukit Asam PT Bukit Asam (Persero) Tbk Our Vision: To be "An Environmentally Conscious World Class Energy Company" www.ptba.co.id Corporate Presentation, 9M14 Results Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA Release on 30 October 2014#2Contents aux Bukit Asam 1. Introduction 2. Operational Review 3. Commercial Review 4. Financial Review 5. Project Development Appendices 01#3Introduction Bukit Asam During the Dutch colonial period, the first open-pit at Airlaya mine, in Tanjung Enim, South Sumatera started operating. 1919 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. 2 Mar 1981 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. 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 Banko Prima boi Bukit Asam 23 Dec 2002 1990 CBM Gas 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). 02#4Operational Review Revenue (IDR Trillion) Net Profit (IDR Trillion) 2.7 11.6 11.2 2.01 10.6 9.0 7.9 2009 3.08 2.9 Railway Capacity (Mn ton) 1.8 12.8 10.5 10.8 11.5 11.9 Bukit Asam Operational Highlights Sales Volume (Mn ton) 24.7 17.9 17.8 15.3 12.5 12.9 13.5 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2014 (F) 2009 2010 2011 2012 2013 2014 (F) FY13(A) a FY14(F) b % 9M13 9M14 c=b/a d e % f=e/d ☐ SALES VOLUME (MT) 17.8 24.7 139% 13.2 13.2 100% ■ PRODUCTION (MT) 15.1 19.8 131% 10.9 12.5 115% ■ COAL PURCHASE (MT) 2.7 3.9 144% 2.3 1.4 61% ■ RAILWAY (MT) 12.8 17.9 140% 9.6 11.0 115% ■ REVENUES (IDR TN) 11.2 8.1 9.6 119% ■ NET PROFIT (IDR TN) 1.8 1.2 1.6 127% 80% 1000 60% 50% 40% 371.05 60% 60% 50% 45% 523.12 533.4 55% 55% 800 803.56 600 720.75 400 20% 164.97 Dividend Payout Ratio -Dividend per share (IDR) 461.97 200 0% 0 03 33 2007 2008 2009 2010 2011 2012 2013#5Operational Review Bukit Asam Operations Location Mining Business License (IUP) Total Resources 7.29 billion tons Tanjung Enim Mine Ombilin Mine 66,414 Ha Total Mineable Reserves 1.99 billion tons 2,950 Ha Peranap Mine IPC Mine 18,230 Ha PERANAP MINE 3,238 Ha Recources : 0.79 billion tons Mineable : 0.37 billion tons Total 90,832 Ha OMBILIN MINE Resources: 0.10 billion tons Mineable : 0.02 billion tons Pekan Baru TANJUNG ENIM MINE Peranap TELUK BAYUR PORT Stockpile : 90,000 tons Throughput : 2.5 M tpa Vessel Padang Teluk Bayur Resources Mineable Installed Cap. : 6.36 billion tons : 1.59 billion tons : 20 M tpa : 40,000 DWT Ombilin Palembang Kertapati KERTAPATI PORT Stockpile : 50.000 tons Throughput: 2.5 M tpa Tanjung Enim Barging : 8,000 DWT Lampung Tarahan Jakarta TARAHAN PORT Stockpile : 560,000 tons : 80,000 DWT Throughput : 13 M tpa Vessel PTBA core operations Samarinda IPC MINE Resources: 0.045 billion tons Mineable : 0.01 billion tons - 04#6Operational Review Coal Resources Total: 7.29 billion tons 48.2% 3.51 bn tons 2.7% 0.20 bn tons 49.1% 3.58 bn tons Bituminous Sub-Bituminous Lignite Bukit Asam Resources & Reserves Coal Mineable Reserves Total: 190 billion tons 34.2W 0.68 bn tons 0.06 bn tons 62.8 1.25 bn tons #Bituminous #Sub-Bauminous Lignite. Parameter BITUMINOUS SUB BITUMINOUS LIGNITE TM (% ar) < 18 18-30 > 35 CV (KCal/Kg adb) > 6,400 4,900 - 6,400 < 4,900 (KCal/Kg ar) 5,800 -7,950 4,400 - 5,800 < 4,400 55 05#7ML Commercial Review 2,000 Pacific Basin Seaborne Thermal Coal Import Demand by Country and Rank (Mt) 1,000 4.000 100 2000 1500 1000 500 Bukit Asam Global Coal Review Thermal Seaborne Export by Country (Mt) 2014 2015 2017 2010 207 2025 2025 2027 Source: Wood Mackenzie Coal Market Service, November 2013 2013 2015 2017 2019 2021 2029 Π 2011 2013 mA5 others low Austraña Germany #Poland Ven Atlantic Basin Seaborne Thermal Coal Import Demand FO indonesia Vietnam 2025 2027 2029 2031 2033 2035 in Colombia Non Canada Mozambique South Africa Source: Wood Mackenzie Coal Market Service, November 2013 Linded Kingdom #USIA Thermal Coal FOB Price Forecast 250 200 150 100 2017 by Country (Mt) Germany Prance BAN Source: Wood Mackenzie Coal Market Service, November 2013 USSI (Original Energy Values $100 590 490 170 550 Jan-13 May-13 Sep-13 Jan-14 May 14 Sep-14 Jan-15 May 15: Sep-15: 100 Na (HiiL) = 100 Richards Bay (Min.) ARA DES (1) ce EcoC (Mini) (WM Form: FOR NOAH WM.Forcat LRA (DESI Wild Frencant ECool WM Form ExxCal 137) Newcaste Geomat Source: globalCOAL and Indonesian Govt (History), Wood Mackenzie Coal Market Service, June 2014 06#8Commercial Review 1200 Indonesian Domestic Demand Vs Exports (Mt) Domestic demand Exports 1000 800 600 400 200 2000 2011 2014 2017 2030 2023 2026 2029 2032 2035 Domestic doming Exports -Demand Source: Wood Mackenzie Coal Market Service, November 2013 Coal Consumption Guidance for Electricity 300 180 PLN 160 140 120 100 80 73.00 60 40 20 Million Tones 2014 Source: PLN, 2014 40% 30 201 Demand/Production 2011 Bukit Asam National Coal Review Primary Energy Mix (%) 2015 1.446 juta 58M/million 00 1.774 juta 5|IM / million BOL 2025 2030 Source: Agency For The Assessment And Application Of Technology, Dec 2013 Fuel Mix 2005-2021 : For Power Generation Hydrop 151.00 142.77 130.97 120.17 11155 105,74 2015 2016 2017 2018 2010 2020 2021 2022 oll Coal Source: PLN, 2014 # LNG Geothermal in I I 10 07#9Financial Review Bukit Asam Costs & Prices Total Cash Cost (FOB) 1H14 Total Cost Breakdown Electricity, 1% Coal Purchase, 8% 9M13 9M14 YoY Tanjung Enim System *) Heavy Equipment, 4% Ex Royalty (IDR) 556,121 584,281 +5% Fuel, 1% Total (IDR) 598,033 630,544 +5% Salaries & Wages, 12% *) Note: Total cash cost include COGS,G&A, Selling Expenses, Inventory Weighted Average Strip Ratio 4.4 4.2 4.0 3.6 3.5 4.4 Others, 2% Adm & Gen Expenses, 4% Sales Expenses, 3% Depreciation & Amortisation, 2% Spareparts, 2% 2009 2010 2011 2012 2013 2014 (f) Royalty, 7% 6543210 4.4 4.5 9M13 9M14 Average Selling Price (ASP) Mining Service, 31% Railway Service, 24% Weighted ASP (IDR/Ton) Export (USD/Ton) Domestic (IDR/Ton) FY13 9M13 9M14 631,145 612,046 728,079 74.33 76.25 71.11 582,581 585,800 671,426 YOY +19% -7% +15% 08 80#10Financial Review Type Of Coal by Quality Bukit Asam Coal Brand & Sales Breakdown 9M14 Sales Breakdown by country Sri Lanka Vietnam 0.58% CV TM Coal Brand IM Ash VM TS max |Kcal/Kg,adb| Kcal/Kg,ar %,ar %,adb %,adb %,adb %,adb %,adb FC HGI IPC 53 5,300 34 15 8 39 40 0.5 BA 55 5,500 4,550 30 15 8 39 38 0.8 50 BA 59 5,900 5,000 28 14 6 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 6 41 43 0.8 55 China 3.42% 4.04% 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 Taiwan BA 76 7,600 7,400 2 8 14 76 1.2 17.11% 9M14 Sales Breakdown by Quality BA55 BA59 BA61 BA63 BA67 BA70 100% 0.89% 0.45% 26.33% 13.27% 0.76% 80% 1.36% India 10.07% 0.64% 37.56% 22.63% 60% 18.96% Malaysia. 8.99% 44.31% 40% 55.38% 32.46% 9.10% 20% 19.62% 0% Japan 5.11% Cambodia 0.21% 11.92% 4.36% Domestic Export Total Total: 6.68Mt Total: 6.56Mt Total: 13.24Mt Domestic 50.47% 90 09#11Financial Review GROSS PROFIT MARGIN (%) OPERATING PROFIT MARGIN (%) 32 29 19 18 Bukit Asam Financial Ratios NET PROFIT MARGIN (%) 16 15 9M13 9M14 9M13 9M14 9M13 9M14 54.1 48.9 50 44 46.2 31 39.7 34.6 35 29.1 31 30.5 25.4 23.7 19 29 29 25 25 16 2% 11% 15% 8% 12% 30% 1% 15% 28% 20% 11% 39% 12% 29% 18% 14% 14% 36% 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 10#12Financial Review Bukit Asam PTBA Versus Global & Local Peers 33% 22% 16.959 17% 7.954 YZC ACI BYAN BTU BUMI ITMG HRUM BRAU ADRO PTBA AVERAGE -0.692 GROSS_MARGIN OPER_MARGIN NET_MARGIN Source: Bloomberg, 14 October 2014 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 BTU : Peabody Energy Corp. - USA (NYSE) PTBA : PT Bukit Asam - : PT Indo Tambangraya Megah - IDX - IDX BUMI : PT Bumi Resources - IDX BYAN : PT Bayan Resources - IDX 11#13Financial Review Bukit Asam Summary Financial Performance (IDR Tn) FY13 9M13 9M14 YOY Sales 11.209 8.104 9.638 119% COGS 7.745 5.738 6.589 115% EBITDA 2.530 1.746 2.241 128% Net Income 1.826 1.243 1.582 127% Assets 11.677 11.372 14.049 124% Cash 3.343 3.266 4.436 136% Net Margin 16% 15% 16% 107% Return On Asset 16% 11% 11% 100% Return On Equity 24% 19% 19% 100% Return On Investment 21% 18% 18% 100% 12#14Infrastructures Expansion 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: 2018 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: 2014 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 Double Tracks Bukit Asam Single Track with Crossing Sections Kertapati Palembang Barging Port Tarahan Lampung Ship loading Port 13#15Power Plants Projects 3x600MW Sumsel 9&10 PP - Location - Coal Cons. - COD : Muara Enim : 8.4 M tpa : 2018 2x110MW Power Plant - Location : Banjarsari - Coal Cons. : 1.4 M tpa - COD : 2014 800-1200MW Power Plant - Location - Coal Cons. - COD : Peranap Riau : 8.4 M tpa : 2018 Myanmar (Burma) Hano -Laos Yangon Thailand 2x620MW Power Plant : Central Banko - Location - Coal Cons. - COD : 2017 : 5.4 M tpa Andaman Guangzhou Macau Taiwan Hong Kong China Sea Manila Bangkok Vietnam Island Cambodia Philippines Phnom Penn Ho Chi Minh Gi Leyte Palawan Sulli Sea Mindanao 3x10MW Power Plant Usage Internal Mine Sites Coal Cons. : 0.15 M tpa In Operation since Oct 2012 Malaysia Kuala o Lumpur Singapore 2x8MW Power Plant - Usage: Internal Port Sites - Coal Cons. : 0.10 M tpa In Operation since Dec 2013 4x65MW Power Plant - Location Tanjung Enim - Coal Cons. : 1.4 M tpa - In Operation since 1987 Crib Sel Bukit Asam Riau Palembang Tanjung Enim Indonesia Banda Sea Surabaya AniMa Tender/Cooperation Process 14 Bukit Asam Existing Projects#16Project Development BUKITASAM TRANSPACIFIC RAILWAYE Project Upgraded Existing Railway Line KERETA API BATR - Newly Developed Railway (Bukit Asam Bukit Asam Production Infrastructure & CBM Projects Status • . • • . • Transpacific Railway) • • Tanjung Enim – Tarahan Port (410km), TE – Kertapati Port (161km) 100% owned by State Railway Company, PT KAI Capacity of 22.7Mtpa (2015 – 2029) Currently, it has a total of 3,071 wagons, included 600 new wagons that arrived in April 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 by • Year 1 7.5 Mt jump • Year 2 15.0 Mt • Year 3 20.0 Mt • Year 4 25.0 Mt Tarahan Port Expansion • . • Located at the southern tip of Sumatera Island Newly developed infrastructures for RCD3 & RCD4, Jetty #2 & Shiploader, Additional stockpile of 2x150,000Mt, and Office. By 4Q14, will be in operation with the new Jetty #2 is able to accomodate the giant 'Capesize' bulkcarrier vessels of upto 210,000DWT. Will be the largest coal terminal on Sumatera Coal Bed Methane (CBM) • Located in Tanjung Enim Mine • . • 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) 15#17Project Development The Plant 2x110MW Banjarsari Power Plant Bukit Asam Power Generation Projects Status • PTBA (59.75%), PJB (29.15%), NII (11.10) Investment of USD320 Mn Coal Consumption: 1.4 M tpa Estimated Commercial Date: 4Q14 2x620MW Banko Tengah Plant 800-1200MW Peranap Power Plant 3x10MW Power Plant for internal use 2x8MW Power Plant for internal use • • PTBA (45%), China Huadian Hong Kong Company Ltd (55%) Investment of USD1.6 Bn Coal Consumption: 5.4 M tpa PPA signed in September 2012 Currently in the process of Financial Closure Estimated Commercial Date: 2018 PTBA (Majority in Mining), PLN (Majority in Power Plant), TNB (Majority in Transmission) • Investment of USD1.8 Bn • Coal Consumption: up to 8.4 M tpa Currently in the process of preparation for the FS of power plant & transmission Estimated Commercial Date: 2018 • Located at Tanjung Enim Mine • Investment of USD42 Mn • Coal consumption: 0.15 Mtpa In operation since October 2012 Located at Tarahan Port • Investment of USD29.12 Mn Coal consumption: 0.10 Mtpa In operation since December 2013 16#18Long Term Domestic Committment Bukit Asam Supporting National Energy Policy ☐ Having A Total Long Term Coal Supply with: National Power Company\PLN (2010 - 2030) Indonesia Power (2013-2022) о 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: О 3x10MW Power Plant, Muara Enim (In Operation) О 2x8MW Power Plant, Lampung (In Operation) О О 2x110MW Banjarsari Power Plant (In Completion Process) 2x610MW Banko Tengah Power Plant (In Progress) 800-1200MW Peranap (In the Process) 1800MW Sumsel 9-10 Power Plant (In Bidding Process) Coal Consumption : 0.15 Mtpa : 0.10 Mtpa : 1.40 Mtpa : 5.40 Mtpa : 8.40 Mtpa : 8.10 Mtpa 17#19Appendix Bukit Asam The New Look of Tarahan Port in 4Q 2014 PUPLOADER BARGE LOAD STEAM POWLIN STOCKPH STOCKPILE-AM STACKEN/ RECLAIMER STOCKPILE- STOCKPILE Z STOCKPILE-1 Note: TOTAL STOCKPILE will be 860,000 tons Stockpile 1 = 60,000 tons Stockpile 2 = 250,000 tons Stockpile 3 = 250,000 tons Stockpile 4a = 150,000 tons Stockpile 4b = 150,000 tons 18#20Appendix The Subsidiaries: • • 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 respectively Trading Bukit Asam Power The Indonesian Government owns 65% of Total Shares Logistic Coal Bukit Kendi (75%), coal mining, South Sumatera International Prima Coal (51%), East Kalimantan Bukit Asam Banko (65%), South Sumatera Gas Bukit Asam Prima (99.99%) • Bukit Pembangkit • Innovative . (59.75%) Huadian Bukit Asam Power (45%) Bukit Asam Transpacific Railway (10%) • . • Bukit Asam Metana Enim (99.99%) Bukit Asam Metana Ombilin (99.99%) Bukit Asam Metana Peranap (99.99%) PE SATUBARA KUKIT KEND Prima INTERNASIONAL PRIMA COM PT INTERNASIONAL PRIMA COAL Banko PT Bukit Asam Banko bpi BukitAsam BUKITASAM TRANSPACIFIC LAILWAYS enim Buksan Meta 19#21Appendix Bukit Asam The Top Thirty Shareholders of PTBA ended 30 September 2014 Shareholders Information NO Shareholders 1 NEGARA REPUBLIK INDONESIA Number % 1,498,087,500 65.02 2 TAMBANG BATU BARA BUKIT ASAM (PERSERO), 3 BPJS KETENAGAKERJAAN-JHT 129,997,500 5.64 53,376,000 2.32 4 PT TASPEN (PERSERO) - THT 35,516,000 1.54 5 PEMERINTAH PROPINSI SUMATERA SELATAN 21,315,000 0.93 Share Holders Breakdown 6 BBH BOSTON S/A VANGRD EMG MKTS STK INFD 16,558,825 0.72 7 PT AIA FINL - UL EQUITY 16,495,200 0.72 8 BBH LUXEMBOURG S/A FIDELITY FD SICAV-FID 14,548,100 0.63 Treasury Stock, 5.64% 9 BPJS KETENAGAKERJAAN - JKK 10,888,000 0.47 Domestic, 10 JP MORGAN CHASE BANK RE ABU DHABI INVEST 9,951,829 0.43 16.14% 11 PT PRUDENTIAL LIFE ASSURANCE-REF 9,153,000 0.40 12 PAMAPERSADA NUSANTARA, PT 9,000,000 0.39 13 BPJS KETENAGAKERJAAN - BPJS 8,529,900 0.37 14 PEMERINTAH DAERAH KABUPATEN MUARA ENIM 6,946,000 0.30 15 SSB TRLD SSL C/O SSB, BOSTON TRILOGY INV 16 SSB OBIH S/A ISHARES MSCI EMERGING MARKE 17 SSB 1BA9 ACF MSCI EQUITY INDEX FUND B-IN 6,456,644 0.28 6,452,100 0.28 6,164,500 0.27 18 SSB WTAS S/A WISDOMTREE EMERGING MRKTS E 19 ASURANSI JIWA MANULIFE INDONESIA, PT-494 20 SSB C021 ACF COLLEGE RETIREMENT EQUITIES 21 CITIBANK NEW YORK S/A EMERGING MARKETS C 22 REKSA DANA SCHRODER DANA PRESTASI DINAMI 23 THE NT TST CO S/A DRIEHAUS EMERGING MKTS 24 JPMCB-VANGUARD TOTAL INTERNTNL STOCK IND 25 REKSA DANA ASHMORE DANA PROGRESIF NUSANT 26 JPMCB-STICHTING DEPOSITARY APG EME MRKT 27 BNYM SA/EASTSPRING INVESTMENTS-204008408 28 SSLUX G56K S/A GOLDMAN SACHS FD-214461 29 BNYM S/A FLORIDA RETIREMENT SYSTEM-20399 30 SSB OBGF S/A ISHARES MSCI INDONESIA ETF- Source: Datindo, 07 October 2014 5,884,700 0.26 5,775,800 0.25 5,670,727 0.25 5,453,900 0.24 5,427,400 0.24 5,333,900 0.23 4,889,100 0.21 4,885,000 0.21 Foreign, 13.20% 4,467,000 0.19 4,279,100 0.19 3,617,000 0.16 3,574,114 0.16 3,501,550 0.15 Note: Total outstanding shares of 2,304,131,850 Government, 65.02% 20#22Appendix PTBA Production Vs Sales 2002 - 2013 Index Movement Dec'02 - Oct'14 17.8 6000 5500 15.3 5.1 5000 Jakmine IHSG PTBA 13.4 3.9 4500 12.9 12.7 12.9 12.4 12.5 4000 11.6 3500 10.0 10.8 0.8 9.5 3000 9.8 9.9 9.9 9.5 9.6 9.5 9.2 9.2 2500 9.1 2000 1500 1000 500 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Sales Production PTBA Revenues Vs Net Income 2002 - 2013 12/20/2002 12/20/2003 11.59 11.20 10.58 195.00 180.00 165.00 8.94 7.90 150.00 7.21 135.00 120.00 105.00 4.12 90.00 3.53 2.99 2.61 2.7 3.08 2.90 75.00 2.16 2.28 2.0 1.70 1.8 60.00 45.00 0.17 0.21 0.41 0.46 0.48 0.7 30.00 T T 15.00 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Net Income Revenues 1-Dec-02 1-Dec-03 1-Dec-04 12/20/2004 12/20/2005 12/20/2006 12/20/2007 12/20/2008 12/20/2009 12/20/2010 12/20/2011 12/20/2012 Coal Price Indexes Dec'02 - Oct'14 (USD/t) 1-Dec-05 1-Dec-06 NEX Index 1-Dec-07 1-Dec-08 1-Dec-09 JPU Index ICRP Index 1-Dec-10 1-Dec-11 1-Dec-12 1-Dec-13 12/20/2013 21 Bukit Asam 27500 25000 22500 20000 17500 15000 12500 10000 7500 5000 2500 0#23Appendix 12.4 12.9 2009(A) 2010(A) 品 15.3 13.4 2011(A) Bukit Asam Projected Sales Volume to 2017 17.8 20.0 IIII IIII 2012 (A) 2013(A) 2014(F) Total Sales TE System Production In Million Ton 35.0 30.0 25.0 2015(F) 2016(F) 2017(F) Railways Transportation 22#24Bukit Asam 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 projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light of new information or future events. 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. 3475 1 7533 7 For More Information: Contact Address $525 5 Telephone Facsimile E-mail Website Head of Investor Relations PT Bukit Asam (Persero) Tbk Menara Kadin, 15th Foor, Jl. Rasuna Said, Blok X-5 Kav. 2 & 3, Jakarta 12950, Indonesia +62 21 5254014 +62 21 5254002 [email protected] : www.ptba.co.id 23