Investor Presentaiton

Regulatory 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

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