CORPORATE PRESENTATION Q1...

1Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA

www.ptba.co.id 021-5254014

CORPORATE PRESENTATION

Q1 2017

PT Bukit Asam (Persero) Tbk www.ptba.co.id

Contents

2

1. Introduction

2. Operating Review

3. Commercial Review

4. Financial Review

5. Development Projects

Appendices

PT Bukit Asam (Persero) Tbk www.ptba.co.id 3

1919 2 Mar 1981

1990

23 Dec 2002

During the Dutch colonial

period, the first open-pit at

Airlaya mine, in Tanjung Enim,

South Sumatera started

operating.

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.

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”.

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.

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.

1950

Coal Mine in Ombilin,

West Sumatera, started in

operation.

1876

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).

Company’s Key Milestones - Indonesia’s Oldest and Most Experienced Coal Producer

Coal Business

Coal TradingPower

GenerationLogistic CBM GasSubsidiaries: Investment

2016

30 Dec 2013

Vision:A world-class energy

company that cares about the

environment

Introduction


3.08 2.90

1.80 2.02 2.04 2.02

2011 2012 2013 2014 2015 2016

Net Profit (IDR Trillion)

9.07.9 10.6

11.6 11.214.4

2011 2012 2013 2014 2015 2016

Revenue (IDR Trillion)

FY17 (E)a

3M17b

3M16c

YoY %b/c

SALES VOLUME (MT) 27.28 5.44 5.23 104%

PRODUCTION (MT) 24.06 4.49 3.26 137%

TRADING/PURCHASE (MT) 3.02 0.05 0.41 12%

RAILWAY CAPACITY (MT) 21.70 4.99 4.28 117%

REVENUES (IDR TN) xx.x 4.55 3.54 128%

NET PROFIT (IDR TN) x.xx 0.87 0.33 262%

STRIP RATIO 4.5 4.0 5.4 74%

11.50 11.90 12.80

14.80 15.80

17.72

2011 2012 2013 2014 2015 2016

Railway Capacity (mn ton)

Operating Review

Performance Highlights


Padang

Palembang

Samarinda

Pekan Baru

Tanjung EnimLampung

Jakarta

Total Resources 8.27 billion tons

Total Mineable Reserves 3.33 billion tons

Tarahan

KertapatiOmbilin

Teluk Bayur

Mining Business License (IUP)

Tanjung Enim Mine 66,414 Ha

Ombilin Mine 2,950 Ha

Peranap Mine 18,230 Ha

IPC Mine 3,238 Ha

Tabalong 3,145 Ha

Total 93,977 Ha

Peranap

PTBA core operations

TARAHAN PORTStockpile : 560,000 tonsThroughput : 25 M tpaVessel : 210,000 DWT

KERTAPATI PORTStockpile : 50.000 tonsThroughput : 3.7 M tpaBarging : 8,000 DWT

TELUK BAYUR PORTStockpile : 90,000 tonsThroughput : 2.5 M tpaVessel : 40,000 DWT

IPC MINEResources : 0.024 billion tonsMineable : 0.004 billion tons

OMBILIN MINEResources : 0.10 billion tonsMineable : 0.02 billion tons

TANJUNG ENIM MINEResources : 4,71billion tonsMineable : 2,90 billion tons

PERANAP MINEResources : 0.67billion tonsMineable : 0.29 billion tons

Tambang Tabalong IPC (JORC sta.2013Resources : 0.29 billion tonsMineable : 0.11 billion tons

LAHAT MINEResources : 2,48 billion tons

5

Operating Review

Current Operations


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

48.2%

49.1%

2.7%

Lignite Sub-bituminous Bituminous

34.2%

62.8%

3.0%

Lignite Sub-bituminous Bituminous

6

Operating ReviewCoal Resources

Total: 8.27 bn tons

Coal Mineable Reserves

Total: 3.33 bn tons


Commercial Review

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

2010 2015 2020 2025 2030 2035

Mt

Colombia

Russia

South Africa

Australia

US

Indonesia

India

China

NEA : North East Asia (Japan, Taiwan, South Korea), SEA : South East Asia (Malaysia, Thailand, Philippines, Vietnam), RoW : Rest of World


Commercial Review

National Energy MixIndonesia Coal Production and Sales

Source: Statistics Indonesia and Directorate General of MINERBA, 2016

Domestic Coal Consumption by Sector

Coal

Oil

Renewable Energy

Gas

Total


Financial Review

*) Note: Total cash cost include COGS,G&A, Selling Expenses, Inventory

Tanjung EnimSystem *)

3M17 3M16 YoY

Ex Royalty (IDR) 494.232 510.745 -3,2%

Total (IDR) 557.553 558.135 -0,1%

3M17 3M16 YoY

Weighted ASP (IDR/Ton) 811.345 664.001 +22,2%

Export (IDR/Ton) 844.018 664.387 +27,1%

Domestic (IDR/Ton) 787.350 663.693 +18,6%

4.04.4 4.6 4.5

5.4

4.0

0

1

2

3

4

5

6

2012 2013 2014 2015 2016 3M17

Salaries & Wages, 11.5%

Heavy Equipment Rent, 2.7%

Material &Suppleis, 0.9%

Boat transportation, 3.2%

Contribution CSR, 0.8%Thridparty services, 2.1%

Others, 3.2%

Mining Service, 26.8%

Environmental, 0.6%

Royanty & Taxation of proferty, 12.3%

Railway Service; 32.7%

Depreciation & Amortisation; 2.9%

Average Selling Price (ASP)

3M17 Total Cost Breakdown

Weighted Average Strip Ratio (.x)

Total Cash Cost (FOB)


Financial Review

Coal BrandCV TM IM Ash VM FC TS max Ash Fusion Temperatures (oC)

HGIKcal/Kg, adb Kcal/Kg,ar %,ar %,adb %,ar %,ar %,ar %,adb

Deforma-tion

SphericalHemi-sphere

Flow

IPC 53 5,300 - 34 15 8 39 40 0.5 - - - - -

BUKITASAM – 45 5,464 4,500 30 15 6 35 29 1.0 1216 1246 1384 1413 52

BUKITASAM – 48 5,733 4,800 29 14 6 35 30 1.0 1216 1246 1384 1413 52

BUKITASAM – 50 6,111 5,000 28 12 6 35 31 1.0 1323 1379 1381 1398 55

BUKITASAM – 55 6,513 5,500 24 10 6 34 36 1.0 1308 1374 1388 1409 54

BUKITASAM – 64 7,070 6,400 14 5 6 34 46 1.2 1466 1488 1491 1493 60

*HGI : Hardgrove Grindability Index

Japan, 1.1% Tiongkok, 7.6%

Philippines, 2.3%

Thailand, 0.9%

Malaysia, 1.6%

India, 16.7%

Cambodia, 5.4%

Vietnam, 6.7%

Domestic, 57.7%

131,526

590,661

4,307,950

54,057 89,622 27,500 142,134

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

5,000,000

BUKIT ASAM 45 BUKIT ASAM 48 BUKIT ASAM 50 BUKIT ASAM 55 GAR 6100 GAR 6400 SEMI ANS

3M17 Sales Breakdown by Quality 3M17 Sales Breakdown by Country


Financial Review

4650

44

31 30 30.7 31.3

2010 2011 2012 2013 2014 2015 2016

2529

25

1614 14.7 14.4

2010 2011 2012 2013 2014 2015 2016

29

3531

1916 17.8 18

2010 2011 2012 2013 2014 2015 2016

17.8 18

FY15A FY16

14.7 14.4

FY15 FY16

30.7 31.3

FY15A FY16

Gross Profit Margin Operating Profit Margin Net Profit Margin


Financial Review

48.7

26.8529.79

17.0114.34

-1.17YZC US ACI US BYAN IJ BTU US SCC PM COAL IN 1088 HK ITMG IJ HRUM IJ ADRO IJ GLEN LN RIO AU BHP AU BUMI IJ PTBA IJ AVERAGE

GPM OPM NPM

YZC :Yanzhou Coal Mining GLEN LN: Glencore PLC.(London)

ACI : Arch Coal Inc. – USA (NYSE) SCC PM: Semirara Mining and Power co – PHP

COAL IN : Coal India Ltd –INR 1080 HK: China Shenhua Energy – CO-H

ADRO : PT Adaro Energi – IDX HRUM : PT Harum Energi – IDX

BRAU : PT Berau coal – IDX ITMG : PT Indo Tambangraya Megah – IDX

BTU : Peabody Energy Corp. – USA (NYSE) PTBA : PT Bukit Asam – IDX

BYAN : PT Bayan Resources – IDX RIO AU : Rio Tinto LTD. ( Australia)

BHP AU : Billiton LTD (Australia)

Source: Bloomberg, 31 Maret 2017

PTBA Vs Global & Local Peers


Development ProjectsDistribution Infrastructures Development & CBM

Prabumulih

Muara Enim

Baturaja

Lahat

Railway (Upgraded)- Capacity : up to 22.7 M tpa- TE – Kertapati : 160.9 Km- TE – Tarahan : 409.5 Km- Expect. COD : 2018-2021

Railway Project (New) - BATR- Capacity : 25.0 M tpa- Distance : 280 Km- Expect. COD : 2022

Double Tracks

Single Track with Crossing Sections

Tarahan Port is the largestCoal Terminal on Sumatera since it can accomodate “Capesize” bulkcarrier vessels of upto 210,000DWT. It is fully owned and operated by PTBA

Tanjung Enim Mine with the installed production

capacity of 25 Mtpa

(The proposed railway)

TarahanCoal Terminal

KertapatiBarging Port

Coal Bed Methane (CBM)Tanjung Enim- Potential Reserve : 0.8 TCF

Coal Bed Methane (CBM)Ombilin- Potential Reserve : 0.4 TCF

Tanjung Enim

Railway Development KAI- Capacity : up to 45 mtpa- TE – Prajin : 172 Km- TE – Kramasan : 156 Km- TE – Srengsem : 305 Km - Expect COD : 2020

PrajinBarging PortKramasan

Barging Port

SrengsemPort


Development Projects

CFPP 2x620MW- Location : Central Banko- Coal Consumption : 5.4 mtpa- COD : 2019

3x10MW Tanjung Enim CFPP- Usage : Internal Mine Sites- Coal Cons. : 0.15 M tpa- Operated since Oct 2012

2x8MW Tarahan Port CFPP- Usage : Internal Port Sites- Coal Cons. : 0.10 M tpa- Operated since Dec 2013

CFPP 2x110MW- Location : Banjarsari- Coal Consumption : 1.4 mtpa- Operated since 2015

3x600MW Sumsel 9&10- Location : Muara Enim- Coal Consumption : 8.4 mtpa- COD : 2020

CFPP 800-1200MW- Location : Peranap Riau- Coal Consumption : 8.4 mtpa- COD : 2020

Palembang

Tanjung Enim

Peranap Riau

OperatedTender/Cooperation Process

Tarahan

CFPP 2x350 MW- Location : Kuala Tanjung- Coal Consumption : 3 mtpa- COD : 2021

CFPP 2x40 MW- Location : Easet Halmahera- Coal Consumption : 0,35 mtpa- COD : 2020

MoU

TOTAL CFPP> 5.000 MW

CFPP 2x100MW- Location : West Kalimantan- Coal Consumption : 1 mtpa- COD : 2021

CFPP 1x200MW- Location : East Kalimantan- Coal Consumption : 1 mtpa- COD : 2021

CFPP 2x100MW- Location : Kalselteng- Coal Consumption : 1 mtpa- COD : 2021

CFPP 2x100MW- Location : Bangka- Coal Consumption : 1 mtpa- COD : 2021

Power Plants Development


Development ProjectsP Project Status

Upgraded ExistingRailway Line

• Capacity of 75 Mtpa (MoU PTBA – PTKAI 2016)• 100% owned & operated by State Railway Company, PT KAI• Tanjung Enim – Tarahan Port, Lampung (25 MTPA, Year 2019)• Tanjung Enim – Kertapati Port, South Sumatra (5 MTPA, Year 2019)• Tanjung Enim – Prajin Port, South Sumatra (15 MTPA, Year 2020)• Tanjung Enim – Kramasan Port, South Sumatra (5 MTPA, On Study)• Tanjung Enim – Srengsem Port, Lampung (25 MTPA, On Study)

BATR – Newly Developed Railway (Bukit Asam Transpacific Railway)

• 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 negotiation with EPC contractor & lender• Project will reach its peak capacity of 25 Mtpa in 4 years

Coal Bed Methane (CBM)

• Located in Tanjung Enim Mine• Cost Recovery Project between 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)• Commercial Operating Date scheduled in 2019

Coal Gasification • Located in Tanjung Enim Mine• Investment of USD 221 Mn• Capacity of 2600 ton/day of Urea-based fertilizer• Coal consumption: 1.5 Mtpa• Currently in the process of the FS


Development Projects

The Plant Status

2x110MW Banjarsari Power Plant • PTBA (59.75%), PJB (29.15%), NII (11.10%)• Investment of USD350 Mn• Coal Consumption: 1.4 M tpa• In operation since June 2015

2x620MW Banko Tengah (Sumsel 8) Power Plant

• PTBA (45%), China Huadian Hong Kong Company Ltd (55%)• Investment of USD1.6 Bn• Coal Consumption: 5.4 Mtpa• Facility Loan Agreement of US$1.2 Bn has been signed with Cexim in March 2015• Financial Closing to be finalised in 2H16• Groundbreaking in 2015• Commercial Operating Date scheduled in 2019

600-1200MW Peranap Power Plant

• PTBA (Majority in Mining), PLN (Majority in Power Plant), TNB (Majority in Transmission)• Investment of USD2.4 Bn• Coal Consumption: up to 8.4 M tpa• Currently in the process of preparation for the FS of power plant & transmission• Commercial Operating Date: 2022

3x600MW Sumsel 9&10 Power Plant

• Located at Tanjung Enim Mine• Investment of USD 1.1 Bn• Coal consumption: 8.4 Mtpa• Commercial Operating Date: 2021


Appendix

Having A Total Long Term Coal Supply with: Committed Volume

o PLN (2010 – 2030) : 262 Mt

o Indonesia Power (2013 – 2022) : 52 Mt

o Huadian Bukit Asam Power (25 Years) : 150 Mt

o Bukit Pembangkit Innovative (30 Years) : 36 Mt

o Indonesia Fertilizer (30 Years) : 69 Mt

o Cilacap Power Plant (4 Years) : 5 Mt

Total : 574 Mt

Supporting Power Plants Projects Development for: Coal Consumption

o 3x10MW Tanjung Enim Power Plant (In Operation) : 0.15 Mtpa

o 2x8MW Tarahan Port Power Plant (In Operation) : 0.10 Mtpa

o 2x110MW Banjarsari Power Plant (In Operation) : 1.00 Mtpa

o 2x620MW Sumsel 8 Power Plant (In Progress) : 5.40 Mtpa

o 600-1200MW Peranap Power Plant (In Process) : 8.40 Mtpa

o 600MW Sumsel 9&10 Power Plants (In Bidding Process) : 2.70 Mtpa

Development of > 50 Mtpa coal transportation infrastructure to secure PLN need

Long Term Domestic Commitment


Appendix

• Coverage: 43 Ha• Throughput: 25 Mtpa• Capacity of Berths: Shiploader#2 210,000DWT Shiploader#1 80,000DWT Bargeloader 10,000DWT

• Supporting Facilities: Total Stockpiles: 0.9 Million ton 2x8MW Coal Fired Power Plant Train Unloading System with 4 (Four) RCDs (Rotary Car Dumper) 10,000DWT Barge Unloading

• Certified by ISPS Code

18

Appendix


Appendix

PTBA

• Bukit Kendi (75%), coal mining, South Sumatera

• International Prima Coal (51%), East Kalimantan

• Bukit Asam Banko(65%), South Sumatera

• Bukit Asam Prima (99.99%)

• Bukit PembangkitInnovative (59.75%)

• Huadian Bukit AsamPower (45%)

• Bukit AsamTranspacific Railway (10%)

• Bukit Asam MetanaEnim (99.99%)

• Bukit Asam MetanaOmbilin (99.99%)

• Bukit Asam MetanaPeranap (99.99%)

The Indonesian Government owns 65% of Total Shares

The Subsidiaries:

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 8.27 billion tons and 3.33 billion tons respectively

• Bukit Multi Investama (99,86%)

• Bukit EnergiInvestama(99,28%)

Bukit Prima Bahari

Pelabuhan Bukit Prima

Anthrakas

Bumi Sawindo Permai

Satria Bahana Sarana

Bukit Asam Medika

Internasional Prima Cemerlang

Tabalong Prima Resources

Mitra Hasrat BersamaBukit Energi Service Terpadu

Panajam Internasional Terminal

PTBA Structure


Appendix

50%

45%

60%60%

55% 55%

35%

30%30%

371.05

533.4

523.12

803.56

720.75

461.97

324.57289.73

285.5

0

100

200

300

400

500

600

700

800

900

0%

10%

20%

30%

40%

50%

60%

70%

2008 2009 2010 2011 2012 2013 2014 2015 2016

Dividend Payout Ratio Dividend per share (IDR)

The Top Forty Shareholders as of MAR 31st, 2017

Government, 65%

Treasury stock, 8.5%

Foreign, 7.2%

Domestic, 19.3%

NO SHAREHOLDER SHARES PERCENTAGE

1 NEGARA REPUBLIK INDONESIA 1,498,087,500 65.0174381

2 PT TAMBANG BATU BARA BUKIT ASAM (PERSERO) 196,056,700 8.5089184

3 BPJS KETENAGAKERJAAN - JHT 53,376,000 2.3165341

4 PT TASPEN (PERSERO) - THT 35,516,000 1.5414048

5 PT. PRUDENTIAL LIFE ASSURANCE - REF 26,969,700 1.1704929

6 PEMERINTAH PROPINSI SUMATERA SELATAN 21,315,000 0.9250773

7 PT AIA FINL - UL EQUITY 19,752,900 0.8572817

8 BBH BOSTON S/A VANGRD EMG MKTS STK INFD 13,932,648 0.6046810

9 BPJS KETENAGAKERJAAN - JKK 10,888,000 0.4725424

10 REKSA DANA SAM INDONESIAN EQUITY FUND - 10,506,200 0.4559722

11 JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL 10,392,869 0.4510536

12 PAMAPERSADA NUSANTARA, PT 9,000,000 0.3906026

13 BPJS KETENAGAKERJAAN - BPJS 8,529,900 0.3702002

14 ASURANSI JIWA MANULIFE INDONESIA, PT-494 8,082,800 0.3507959

15 PT AIA FINL - SYARIAH EQ 7,684,500 0.3335096

16 CITIBANK NEW YORK S/A EMERGING MARKETS C 7,213,200 0.3130550

17 PEMERINTAH DAERAH KABUPATEN MUARA ENIM 6,946,000 0.3014584

18 PT. PRUDENTIAL LIFE ASSURANCE - REP 5,999,400 0.2603757

19 RD PREMIER ETF INDO STATE- OWNED COMPANI 5,797,000 0.2515915

20 PT. LHASA CAPITAL MANAGEMENT 5,765,000 0.2502027

21 PT AXA MANDIRI FINANCIAL SERVICES S/A MA 5,470,000 0.2373996

22 CITIBANK NEW YORK S/A THE EMERGING MARKE 5,334,000 0.2314972

23 REKSA DANA BNP PARIBAS INFRASTRUKTUR PLU 4,781,600 0.2075228

24 SSB 2Q27 S/A ISHARES CORE MSCI EMERGING 4,625,400 0.2007437

25 PT. PRUDENTIAL LIFE ASSURANCE - SEF 4,560,900 0.1979444

26 REKSA DANA ASHMORE DANA PROGRESIF NUSANT 3,884,100 0.1685711

27 PT AIA FINL - INV 3,876,800 0.1682543

28 REKSADANA DANA EKUITAS ANDALAN 3,792,800 0.1646086

29 CITIBANK LONDON S/A STICHTING PGGM DEPOS 3,779,700 0.1640401

30 REKSA DANA SAM DANA CERDAS 3,553,100 0.1542056

31 AVRIST - LINK AGGRESSIVE (EQ) IDR FUND 3,434,400 0.1490540

32 REKSA DANA MANDIRI SAHAM ATRAKTIF 3,432,500 0.1489715

33 BPJS KETENAGAKERJAAN - JK 3,372,100 0.1463501

34 REKSA DANA MANDIRI DYNAMIC EQUITY 3,034,500 0.1316982

35 REKSA DANA DANAREKSA MAWAR KONSUMER 10 3,026,100 0.1313336

36 REKSA DANA BNI-AM DANA SAHAM INSPIRING E 3,003,000 0.1303311

37 BNYMSANV RE BNYM RE VANECK VECTORS COAL 2,957,000 0.1283347

38 HPAM ULTIMA EKUITAS 1 2,789,800 0.1210781

39 REKSA DANA ASHMORE DANA EKUITAS NUSANTARA 2,765,000 0.1200018

40 SSB 0BGF S/A ISHARES MSCI INDONESIA ETF 2,666,150 0.1157117


Appendix

12.9 13.9

15.1

16.4

19.3 19.6

4.5

13.4

15.3

17.8 18.0 19.1

20.8

5.4

2011 2012 2013 2014 2015 2016 Q1 2017

Production Sales

10.58

11.59 11.20

13.10 13.73

14.10

4.50

3.08 2.90

1.82 1.86 2.04 2.02

0.87

2011 2012 2013 2014 2015 2016 Q1 2017

Revenues

Net Income

0

5000

10000

15000

20000

25000

0

1000

2000

3000

4000

5000

6000

2/01/2012 2/01/2013 2/01/2014 2/01/2015 2/01/2016 2/01/2017

JCI JAKMINE PTBA


Appendix

In Million Ton

0

5

10

15

20

25

30

35

40

2017 2018 2019 2020 2021

Coal Sales

PT IPC

PT BAP

Tambang Peranap → Peranap/Riau 1

Banko Tengah Blok A → Sumsel 8/9/10

UPTE/MTB →Banjarsari, 2 x 110 MW (Tahap 1)

UPTE: PLTU BA, SB, PLTU MS

UPTE Eksisting→KAI Eksisting

KAI Tanjung Enim - Prajen -

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

2017 2018 2019 2020 2021

Coal Allocation

PLTU Halmahera Timur

PT IPC

PT BAP

PLTU Riau 1/RPE

PLTU Kuala Tanjung

KAI Tanjung Enim - Prajen

PLTU Sumsel 8/9/10

PLTU Banjarsari, 2 x 110 MW

PLTU Bukit Asam, PLTU Milik Sendiri& PTSB

Pasar Eksisting


Appendix

Declining Global Index DEC 2013- DEC 2014= -20%

Declining Global Index DEC 2014- DEC 2015= -30%

Inclining Global Index DEC 2015- DEC 2016= 99%

Global Index on 30 DES 2015 = USD 48.25

ICI 6.500 GAR on 30 DES 2015 = USD 58.56

ICI 5.800 GAR on 30 DES 2015 = USD 48.02

ICI 5.000 GAR on 30 DES 2015 = USD 38.37

ICI 4.200 GAR on 30 DES 2015 = USD 26.75


ICI 6.500 GAR on 30 DES 2014 = USD 67.01

ICI 5.800 GAR on 30 DES 2014 = USD 58.23

ICI 5.000 GAR on 30 DES 2014 = USD 48.46

ICI 4.200 GAR on 30 DES 2014 = USD 35.74


ICI 6.500 GAR on 30 DES 2013 = USD 84.11

ICI 5.800 GAR on 30 DES 2013 = USD 70.69

ICI 5.000 GAR on 30 DES 2013 = USD 58.26

ICI 4.200 GAR on 30 DES 2013 = USD 39.25

Global Index on March 31, 2017= USD 87.72


ICI 6.500 GAR on 30 DES 2016 = USD 87.51

ICI 5.800 GAR on 30 DES 2016 = USD 72,00

ICI 5.000 GAR on 30 DES 2016 = USD 56.88

ICI 4.200 GAR on 30 DES 2016 = USD 37.55

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r-1

40

2-M

ei-

143

0-M

ei-

142

7-J

un

-14

25

-Ju

l-14

22

-Agu

-14

19

-Sep

-14

17

-Okt

-14

14

-No

v-1

41

2-D

es-

140

2-J

an-1

53

0-J

an-1

52

7-F

eb-1

52

7-M

ar-1

52

4-A

pr-

15

22

-Me

i-15

19

-Ju

n-1

51

6-J

ul-

151

4-A

gu-1

51

1-S

ep-1

50

9-O

kt-1

50

6-N

ov-

15

04

-De

s-15

30

-De

s-15

29

-Jan

-16

26

-Feb

-16

24

-Mar

-16

22

-Ap

r-1

62

0-M

ei-

161

7-J

un

-16

15

-Ju

l-16

12

-Agu

-16

9-S

ep-1

67

-Okt

-16

4-N

ov-

16

2-D

es-

16

6-J

an-1

73

-Feb

-17

3-M

ar-1

73

1-M

ar-1

7

Coal Price Index Movement 2011- 2017

Palembang

Tanjung Enim

Lampung

Contact : Mr Nicko AlbartPosition : Head of Investor RelationsAddress : PT Bukit Asam (Persero) Tbk

Menara Kadin, 15th Foor, Jl. Rasuna Said, Blok X-5 Kav. 2 & 3, Jakarta 12950, Indonesia

Telephone : +62 21 5254014Facsimile : +62 21 5254002E-mail : [email protected] : www.ptba.co.id

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 andexpectations, 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 newinformation or future events.

These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trendsin demand and prices for coal generally and for our products in particular, the success of our mining activities, both aloneand with our partners, the changes in coal industry regulation, the availability of funds for planned expansion efforts, aswell as other factors. We caution you that these and a number of other known and unknown risks, uncertainties andother factors could cause actual future results or outcomes to differ materially from those expressed in any forward-looking statement.

For More Information:

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