Investor Presentaiton

Solid 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

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