Investor Presentaiton

Prices Remain Near Historical 500.00 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 5-Jan-18 5-Mar-18 5-May-18 5-Jul-18 5-Sep-18 5-Nov-18 5-Jan-19 5-Mar-19 5-May-19 Prices have remained volatile at high levels. ■ Demand from India and Southeast Asia has supported Indonesian thermal coal imports - due to inclement weather and also supply crunch. Indonesian coal demand is still expected to be high due to its competitiveness and unique characteristics 5-Jul-19 5-Sep-19 5-Nov-19 5-Jan-20 5-Mar-20 5-May-20 5-Jul-20 NEX •НВА ICI 3 ICI 4 5-Sep-20 5-Nov-20 5-Jan-21 5-Mar-21 5-May-21 5-Jul-21 5-Sep-21 5-Nov-21 5-Jan-22 Highs adaro 5-Mar-22 5-May-22 5-Jul-22 5-Sep-22 5-Nov-22 5-Jan-23 5-Mar-23 44

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