[PPT] - Analyst Briefing 1Q13 performance results 15 May 2013 The view s PowerPoint Presentation

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Analyst Briefing

1Q13 performance results

15 May 2013

SLIDE 2

2 The view s expressed here contain inform ation derived from publicly available sources that have not been independently

verified. No representation or w arranty is m ade as to the accuracy, com pleteness or reliability of the inform ation. Any

forw ard looking inform ation in this presentation has been prepared on the basis of a num ber of assum ptions w hich m ay prove to be incorrect. This presentation should not be relied upon as a recom m endation or forecast by PT. Indo Tam bangraya Megah Tbk. Nothing in this release should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction

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3

Appendices Financial review Commercial review Operational review Introduction 3 4 2 1

SLIDE 4

Disclaim er

Agenda

4

SLIDE 5

5

Highlights of 1Q13 results

* Included bonus / penalty

Unit: USD Million

Total Revenue Gross Profit Ma rgin EBIT Net Incom e ASP* (USD/ ton) Q-Q

15%
1%
19%

+10 %

1%

1Q13 563 23% 8 5 72 $8 0 .0 y -y

3%
13%
50 %
42%
21%

Coal Sales: 7.1 Mt

Down 1.1 Mt

13% Q-Q

Up 1.4 Mt

+24% y-y

1Q12 578 36% 169 124 $10 1.1 4Q12 658 24% 10 5 65 $8 0 .6

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6

Edward Manurung SE, MBA Director Leksono Poeranto Director Pongsak Thongampai President Director Hartono Widjaja Director

Board of Directors

Sean Trehane Pellow Director A.H Bram antya Putra Director (New Mem ber)

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7

Brief resum e of A.H Bram antya Putra

Date of birth : 10 Novem ber 1964 Education :

Master Degree m ajoring in International Managem ent, Prasetiya Mulya Business School, Jakarta Bachelor Degree m ajoring in Geology UPN Veteran, Yogyakarta

Experiences :

20 12 – Present Vice President - Corporate Service PT Indo Tam bangraya Megah, Tbk. 20 10 – 20 12 Mine Head PT Indom inco Mandiri 20 0 6 – 20 12 Kepala Teknik Tam bang PT Indom inco Mandiri 20 0 5 – 20 10 Adm inistration Mine Manager - PT Indom inco Mandiri Bontang 20 0 2 – 20 0 5 Corporate Hum an Resources Manager - Banpu Coal Operation Indonesia 20 0 1 – 20 0 2 Hum an Resources Manager - PT Kitadin 1997 – 20 0 1 Operation Support Dept. Head - PT Indom inco Mandiri 1994 – 1997 Technical Specialist - PT Indom inco Mandiri 1992 – 1994

Sr. Geologist - PT Indom inco Mandiri

1991 – 1992 Geologist - PT Indom inco Mandiri (Project Site)

SLIDE 8

20 13 operation sum m ary

8

East Kalimantan

Bunyut Port Balikpapan Palangkaraya Banjarmasin

Central Kalimantan South Kalimantan KITADIN- EMBALUT

1.0 Mt

INDOMINCO

14.8 Mt

TRUBAINDO

7.7 Mt

BHARINTO

1.9 Mt

JORONG

1.2 Mt

Samarinda Jorong Port Bontang Coal Terminal

20 13 Ta rget: 29m t

20 13 OUTPUT TARGET

KITADIN- TD.MAYANG 2.4 Mt

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

Units: Mt 5.7

Indominco Trubaindo Bharinto Kitadin Jorong

INDICATIVE OUTPUT TARGETS*

1Q12 2Q12 3Q12 4Q12

20 13e 20 14 e 20 15e 20 16 e 20 17e

Indominco Trubaindo Bharinto Kitadin Jorong * Not including inorganic grow th. Note: These output targets are indicative only and are subject to change

6.8 7.0 8 .0

1Q13

7.1

QUARTERLY OUTPUT

29.0 31.0 32.0 33.5

2Q13e

7.3

33.0

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9

Appendices Financial review Commercial review Operational review Introduction 3 4 2 1

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10

1Q13 production achieved higher than plan.
IPCC trial stage: crushing equipment is on site and

waiting for transporting the conveying and stacking system.

Port expansion: evaluation of the bidding tender for

construction contractors. QUARTERLY UPDATES

Indom inco Mandiri

SCHEMATIC

EAST BLOCK

Santan River Port stock yard Bontang City Asphalt haul road

2.5Km 35Km Sea conveyor Mine stockyard Inland conveyor 4km

10 6 8 2 km 4

WEST BLOCK

Operations Stockpile Ports Hauling Crusher

ROM stockpile Post Panamax 95,000DWT

20 13 ta rget: 14.8 m t

E BLOCK W BLOCK

1.6 2.1 2.0 2.5 2.4 2.5 1.4 1.4 1.8 2.0 1.1 1.2 3.0 3.5 3.8 4.5 3.5 3.7

Units: Mt Units: Bcm / t 1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

11.6 15.1 15.2 11.6 13.2 9.2

1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

13.9 9.0 19.1 9.3

QUARTERLY OUTPUT

18.5 9.1

Avg.SR:

13.1 13.0 11.1 10.2 12.4 11.9

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11

Trubaindo:
1Q13 production was higher than plan despite higher

rainfall.

Bunyut port expansion: Already completed the feasibility

study and continue with EPC bidding process.

Bharinto:
1Q13 production achieved higher than plan despite higher

rainfall.

QUARTERLY UPDATES

Trubaindo and Bharinto

SCHEMATIC QUARTERLY OUTPUT

Mahakam River South Block 1 (Dayak Besar) North Block 40km Mine to port Kedangpahu River ROM stockpile Bunyut Port

10 25 15 20 5 km

Product coal conveyor, stacking, stockpile EAST KALIMANTAN Bharinto 60km south west of Trubaindo North Block South Block 2 (Biangan) PT. BHARINTO PT. TRUBAINDO

Operations Stockpile Hauling Barge Port

20 13 Ta rget: TCM : 7.7m t BEK : 1.9m t

1.7 2.0 2.0 2.1 2.0 1.8 1.7 2.0 2.0 2.4 2.3 2.3

TRUBAINDO

13.4 13.5

TRUBAINDO BHARINTO

13.4 Units: Mt Units: Bcm / t 12.7

BHARINTO

7.4 7.8

1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

0.3

1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

10.9 7.6 0.5 10.9 7.5

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12

Kitadin Embalut:

1Q13 production slightly lower than plan.

Kitadin Tandung Mayang:

1Q13 production was slightly higher than plan. Starting 2013, TDM will work at its own concession area only. QUARTERLY UPDATES

Kitadin Em balut and Tandung Mayang

SCHEMATIC QUARTERLY OUTPUT

0.3 0.3 0.3 0.3 0.2 0.3 0.5 0.7 0.6 0.4 0.8 0.7

0.8 1.0 0.9 0.7 1.0 1.0

Balikpapan Mahakam River

Samarinda

to Muara Berau Bontang city

EMBALUT

Embalut Port to Muara Jawa

ROM stockpile

Operations Stockpile Ports Hauling Crusher 10 6 8 2 km 4 5km Mine to port

TD. MAYANG

EAST KALIMANTAN

IMM EB IMM WB

Bontang Port

TDM : 2.4m t

12.0 11.8

TDM EMB EMB TDM

15.1 15.1 11.4 15.1 Units: Mt Units: Bcm/t 6.0 15.1

1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e 1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

11.5 15.1

20 13 Ta rget: EMB : 1.0 m t

11.3 15.1

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Coal terminal Jorong Pelaihari

Pacific Ocean

Haul road

10 25 15 20 5 km

20km

Operations Stockpile Hauling Barge Port

FY13 ta rget: 1.2m t

MAJOR QUARTERLY UPDATES 13

Jorong

1Q13 production as according to plan.
Construction of river diversion project is ongoing and

expected to be finished by around mid 2013. SCHEMATIC QUARTERLY OUTPUT

8.6 8.6 8.6 8.6 8.6 8.6

Units: Mt Units: Bcm / t

1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e 1Q12 2Q12 3Q12 4 Q12 1Q13 2Q13e

0.3 0.3 0.3 0.3 0.3 0.3

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14

Appendices Financial review Com m ercial review Operational review Introduction 3 4 2 1

SLIDE 15

Disclaim er

Agenda

(a) Coal m arket update (b) Long-term coal m arket analysis 3. Com m ercial Review

15

SLIDE 16

16 OTHER DRIVERS WEATHER CHINESE DEMAND

Indonesia wet season started after 3

months of relatively good weather

Chinese heating season ended at the

end of March, good hydropower generation into April

Australian normal weather pattern
USA/Europe normal weather

pattern

Mixed sentiment, resulting from

mixed data from China and USA, prevails throughout 1Q

But underlying trends are positive
Gas prices continues to support

coal demand in Europe, while USA continues adjusting

In 2013, political and social factors

may impact supply, but extent still unpredictable

World growth forecast of 2.3%*

(Prev. 2.4%); Asian growth forecast of 6.3%* (Prev. 6.4%) in 2013

Economic activity still healthy

although GDP disappointed and electricity generation slowed

Coal production flattening, but

stocks remain

Imports in 1Q 2013 was 80 Mt, up

by 30% Y-0-Y or 19 Mt

China Electricity Council (CEC)

expects power consumption to increase by 4–6% Y-o-Y in 2013

Hydropower and wind power

generation likely to increase and impact coal power mix, although coal imports expected to increase in April

Seaborne therm al coal m arket drivers: 1Q update

* Economist Intelligence Unit, Global Outlook, February 2013

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17

ITM ASPs vs therm al coal benchm ark prices

ITM ASP VS BENCHMARK PRICES

* Barlow Jonker Index: benchmark NSW FOB thermal coal index

ASP 1Q13 $80.0 ASP 1Q12 $101.1 NEX* May 9, 20 13 $87.5

Unit: $/t

COMMENTS

20 40 60 80 100 120 140 160 180 200 Feb-07 May-07 Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Nov-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 Monthly BJI Quarterly Banpu Indonesia ASP

ASP declined marginally in 1Q and this

reflects the general market sentiment and quality mix

Despite healthy demand, continuing

pressure from the well-supplied market impacts ASP

JPU benchmark was agreed and set at

$95.00/ton, lower than originally expected

Concluded sales of 7.1 Mt in 1Q at ASP of

$80.0/ton, down 1% QoQ

Monthly NEX ITM quarterly ASP

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18

93 103 147 14 7 5 5 2010 2011 2012 2013 Import Export

Net import c.170 Mt ?

ANNUALIZED ACTUAL IMPORT 3Q11 - 4Q12 & 1Q13 CHINA DOMESTIC COAL PRICES CHINA THERMAL COAL IMPORTS/ EXPORTS

China therm al coal m arket review

Source: w w w .sxcoal.com /cn 30 April 2013

Unit: RMB/t

Sources: China Coal Report Jan 2013, Banpu MS&L Estim ates

Unit: Mt Unit: Mt

Net import 142 Mt

c.175?

128 143 116 151 146 175 148 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Import Export

655 615 525

400 500 600 700 800 900 1,000 Feb-11 May-11 Aug-11 Nov-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 > 5,800 kcal/kg > 5,500 kcal/kg > 5,000 kcal/kg

SLIDE 19

COAL SALES 1Q13 19

ITM coal sales 1Q13

COAL SALES BREAKDOWN BY DESTINATION

JAPAN 1.3 Mt PHILIPPINES 0.5 Mt THAILAND 0.5 Mt INDIA 0.4 Mt HK 0.1 Mt S KOREA 0.9 Mt CHINA 2.2 Mt TAIWAN 0.2 Mt ITALY 0.2 Mt 1.5 INDONESIA 0.6 Mt MALAYSIA 0.1 Mt

31% 18% 12% 8% 8% 7% 6% 3% 2%

2%1%

Total Coal Sales: 7.1 Mt

Japan China Taiwan S Korea Italy Thailand Philippines Hong Kong India Indonesia Malaysia

1%

USA

USA 0.1 Mt

SLIDE 20

66% 17% 6% 11%

20

Indicative coal sales 20 13

COAL SALES CONTRACT AND PRICING STAUTS

Contract Status Price Status Fixed Index Unpriced Unsold

TARGET SALES 20 13: 29.0 Mt

89% 11%

Contracted Uncontracted

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Disclaim er

Agenda

(a) Coal m arket update (b) Long-term coal m arket analysis 3. Com m ercial Review

21

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22

20 13 - Short term outlook: continuing im balance

Import and export figures based on 2013 forecast (average of IHS McCloskey and Wood Mackenzie, * including lignite and anthracites Source: IHS McCloskey, Wood Mackenzie , IEA, Banpu, AWR Lloyd Indonesia Australia

S. Africa

Colom bia USA

N. Asia

SE Asia China India Russia

225 Mt* 116 Mt 299 Mt 55 Mt

Europe

187 Mt

Other demand

50 Mt

Other supply

Likely to surpass Japan as second largest thermal coal importers

Excess capacity at ports
Take or pays support

marginal costing

Significant

rationalization

Domestic coal output

down by 5Mt (2%) yoy

More cuts expected
Imports higher

382 Mt 186 Mt 45Mt 87Mt 78Mt 65Mt 89 Mt

Coal export hedging

contracts progressively maturing to 2H13

Exports dropping
Imports still high
May ease back in 2H13
Logistics

constraints

Socio-political

questions rising

Net imports Net exports

2013 estimates

SLIDE 23

20 40 60 80 100 120 140 160 180 200 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 90th percentile cost (seaborne FOB) Spot coal price (Newcastle)

COMMENT 23

Historical perspective: cost curve and prices

In the past when

prices have fallen close to or below 90th cost percentile, it has been sign of an imminent recovery

A spike historically

has resulted from coincidence: 1) demand recovery 2) supply reduction

Coal prices in mid

2012 to early 2013 have dropped below 90th percentile

HISTORICAL MARGINAL COST CURVE AND NET PRICE RELATIONSHIP

Source: Bloomberg, AWR Lloyd, Research reports

US$/t

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24

China: im ports com petitive at current price

Source: Banpu, AWR Lloyd

Newcastle Kalim antan QHD COMMENT

Key factors: FOB cost, freight, and

exchange rates

Imported coal is competitive at

current prices

Chinese mines closing today at

QHD of RMB 600-610/t ($98- $100) FOB on Bohai-rim Price Index

In the longer term :
US$ appreciation against A$

will make Australian coal producers more competitive

Indonesian coal has

competitive freight

Competitiveness of Chinese

supply should decline: mine cost increase, lower quality, RMB appreciation

ILLUSTRATION: CHINESE SUPPLY VERSUS IMPORTS

Main product that Australia sells to China

Im port duty

Illustra tion benchm a rk: 6,322 kca l/ kg GAR @ U$8 5/ t FOB

S China

Im port duty

$73

5,50 0 NAR H Ash

$72

5,50 0 NAR H Sul

$92/t

5,50 0 NAR

[RMB 560/t] 92 7 2 14 7 3 11 13

Kalimantan

9 8 6

NEWC

9 8 7

QHD

9 2 CIF Southern China 5,500 NAR products ($/t)

$6 Unit: US$ per tonne

$13 $7 $14 $11

Freight Freight

INDICATIVE ONLY

11

SLIDE 25

Avg. dom estic FOB

QHD cash cost CV adjustm ent C0 nverting to U$/ t NAR RMB/ t NAR RMB/ t @ RMB 6.1/ U$ @ RMB 5.5/ U$

4,800 450

6,000

560 92 102

5,500

515 84 94

CHALLENGING TRENDS ?

China: average dom estic FOB QHD cash cost

CHINA COASTAL SUPPLY COST CURVE 25

RMB appreciates slowly

against US$ (affects FOB + freight)

US$ appreciates against A$
RMB domestic inflation may

follow pattern seen in United States (i.e. 2-3%)

RMB mining industry and

transportation is expected to inflate faster against CPI

Chinese producer cost

reduction harder, with >80% underground mines

Mining costs in Australia and

Indonesia falling/rationalizing

700 600 500 400 300 200 100 100 200 300 400 500 RMB/t

Source: Wood Mackenzie, Banpu analysis

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26

Long term therm al dem and and supply outlook

Forecast figures are average of IHS McCloskey and Wood Mackenzie Source: IHS McCloskey, Wood Mackenzie, AWR Lloyd Europe China N Asia SE Asia India Indonesia Australia

S. Africa

Colom bia Russia USA Other supply Other dem and

2012 - 2020 2012 - 2030 Total change (Mt) +276 +736 China, India, SE Asia +242 +686 88% 93%

374

2020 2030

132 6 7

2020 2030

+ 191 39 29

2020 2030

4 3 121

2030 2020

21
45

2020 2030

15

2030 2020

144 37 56

2030 2020 1 8 1 8 2020 2030

88

2020 2030

197 99

2020 2030

255 4 20

2030 2020

26 56

12-Jul 2030

15 46

2030 2020

+ + + + + + + + + + + + + + + + + + + + + +

ILLUSTRATIVE ONLY Net imports Net exports

+

SLIDE 27

COMMENT

Cost of m eeting long term increm ental coal dem and?

20 13 FOB COST CURVE (CV ADJUSTED)

Growing demand

requires higher cost supply

Higher stripping

ratio, lower quality, depleting reserves for current capacity

Lower quality,

higher-cost production for future capacity

Current price

environment does not support marginal producers and does not incentivize new capacity

27

CUMULATIVE SUPPLY (Mt)

200 400 600 800 1,000 1,200 1,600 50 100 150 200 2013 2020 DEMAND 2030 DEMAND

Source: Wood Mackenzie, Banpu

$/t FOB Vessel

? ?

SLIDE 28

66 10 14 88 27 117 24 32 10 17 35 12 9 7 6 19 5 10 41 7 15 20 29 14 44 4 17 16 4 4 3

28

Seaborne coal will rem ain com petitive versus gas

WORLD GAS TRADE AND OUTLOOK TREND

Source: BP Statistical Review of World Energy 2012; Waterborne Energy, Inc., Banpu Natural Gas (bcm) LNG (bcm) Note: Trade data as of 2011, gas price as of Septem ber 2012

Africa

Shale gas

possible

Negligible

LNG Africa

Shale gas

possible

Negligible

LNG India

LNG

(some shale gas possible) India

LNG

(some shale gas possible) Europe

LNG limited
Piped natural gas (Russia,

Algeria)

Shale gas ? Environmental?

Europe

LNG limited
Piped natural gas (Russia,

Algeria)

Shale gas ? Environmental?

Japan

LNG

Japan

LNG
S. Korea
LNG
S. Korea
LNG

Indo China

LNG?

Indo China

LNG?

Taiwan

LNG

Taiwan

LNG

Piped natural gas

Increasingly competing with oil

rather than coal

Negligible replacement of coal
n coast for seaborne markets
Where it can replace seaborne

imports – it already has

USA effect in 2012 - an anomaly

for medium term, probably long term too LNG

Cannot compete with coal nor

natural gas (where available)

Too expensive for lesser

developed countries

Long lead times – if gas is found,

then must negotiate committed

ff take, plan long delivery

system and develop LNG trains

Sufficiently higher cost than coal

in which lower cost LNG projects would replace higher cost LNG projects before impacting coal

Australia

LNG projects are at the

high end of the cost curve

Environmental challenges

(i.e. water resource issue)

Currently pushing up

domestic coal prices Australia

LNG projects are at the

high end of the cost curve

Environmental challenges

(i.e. water resource issue)

Currently pushing up

domestic coal prices China

Shale gas likely in long term
Shale gas uncertainties: geological

difficulties, water availability, infrastructure, economics China

Shale gas likely in long term
Shale gas uncertainties: geological

difficulties, water availability, infrastructure, economics

S. Am erica
LNG unlikely
S. Am erica
LNG unlikely

COMMENT

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29

Appendices Financial review Commercial review Operational review Introduction 3 4 2 1

SLIDE 30

30 SALES VOLUME

Sales revenue

REVENUE* GROWTH ASP

1Q12 2Q12 3Q12 4 Q12 1Q13

Units: US$M

Indom inco Trubaindo Jorong Kitadin Bharinto 1Q12 2Q12 3Q12 4 Q12 1Q13

Units: Mt

Indom inco Trubaindo Jorong Kitadin Bharinto

Units: US$/ t

1Q12 2Q12 3Q12 4Q12 1Q13

* excluding port revenue

575 622 572 653

10 1.1 94 .6 8 7.5 8 0 .6 5.7 6.6 6.6 8 .2

21% YoY
1% QoQ

+24% YoY

13% QoQ
3% YoY
14% QoQ

559

7.1 8 0 .0

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31

Average gross m argin

Revenue GPM* (%) Units: US$M Indom inco Trubaindo Kitadin Jorong

39% 28%

Bharinto

19%

427

19% 4Q12

242

19%

72

31%

24

19%

24 ITM Consolidated

1Q13

563

23% 4Q12

658

24% 4Q12 4Q12 4Q12 1Q12 4Q12

23%

1Q12

578

36%

341

27% 1Q12

228

35% 1Q12

83

42% 1Q12

23

18%

1Q12 354

17%

200

17%

73

28%

24

17%

34

31%

1Q13 1Q13 1Q13 1Q13 1Q13

* COGS included royalty

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32

Cash cost

1Q12 2Q12 3Q12 4 Q12 1Q13

Units: US$/ t

* Cash production cost + royalty + SG&A

1Q12 2Q12 3Q12 4 Q12 1Q13 Units: US$/ Ltr 1Q12 2Q12 3Q12 4Q12 1Q13 Units: Bcm / t 1Q12 2Q12 3Q12 4 Q12 1Q13 Units: US$/ t

WEIGHTED AVERAGE STRIP RATIO CASH PRODUCTION COST TOTAL CASH COST * FUEL PRICE

51.9 13.2 1.0 7 71.0 13.1 1.0 7 51.6 70 .0 1.0 2 12.0 49.8 67.2 10 .8 1.0 3 47.7 65.0 11.7 1.0 4 46.3 62.8

Avg.2011: 11.9 Avg.2012: 12.3 Avg.2011: $46.4/ t Avg.2012: $50.1/ t Avg.2011: $66.0/ t Avg.2012: $68.0/ t Avg.2011: $1.02/ ltr Avg.2012: $1.04/ ltr

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33

EBITDA

CONSOLIDATED

*COGS = Prod cost + Transport cost + Inv. m ovem ent

Units: US$M Revenue 4Q12 1Q12 1Q13 120.6 COGS Selling Royalty Admin 98.9 183.8

MINE BY MINE

Units: US$M 88.0 64.5 34.8 71.6 23.1 28.1 51.0 17.8 18.4 2.3 (0.0) 3.5 Indom inco Trubaindo

1Q12

Kitadin Jorong

4Q12 1Q13

Bharinto 3.2 0.8 9.3

1Q12 4Q12 1Q13 1Q12 4Q12 1Q13 1Q12 4Q12 1Q13 1Q12 4Q12 1Q13

+44.2 (95.6) +19.4 +8.8 +1.5

46% YoY
18% QoQ

Lower sales volume by 13% and ASP by 1%

SLIDE 34

61.4 23.3 42.5 10.7 6.6 1.6 39.2 12.2 12.5 1.0 33.6 0.6 2.0 5.3 (0.1)

34

Net incom e

CONSOLIDATED 124.5 71.9 65.4

Units: US$M

MINE BY MINE

Units: US$M 4Q12 1Q13 Others EBIT Income Tax Derivative Transactions Net Fin.Charges 1Q12 Indom inco Trubaindo Kitadin Jorong Bharinto

1Q12 4Q12 1Q13 1Q12 4Q12 1Q13 1Q12 4Q12 1Q13 1Q12 4Q12 1Q13 1Q12 4Q12 1Q13

(19.9) (2.0) +11.9 +6.5 +10.0

42% YoY

+10% QoQ

Lower sales volume by 13% and ASP by 1%

SLIDE 35

35 CASH POSITION Net Market Gearing (%) Net D/ E (tim es)

(0.47) (4 4%) (0.57) (57%) (0.41) (41%)

20 0 9 20 11 20 10 20 12

(0.46) (4 6%)

Balance sheet

KEY RATIOS DEBT POSITION

Units: US$M

2009

429

2011

612 295

2010 2012

461 Units: US$M 55

2009 2011 2010 2012 1Q13 1Q13

496

1Q13

(0.55) (55%)

SLIDE 36

36

20 13 capital expenditure plan

Note: Total capex plan including Jakarta office

Units: USD m illion

Ind om inco Truba ind o Bha rinto Kita d in Jorong ITM Consolid a ted

19

Realized up to Mar’13 2013 Capex plan

70 64 6 150 1 6 23 2

0.3 0.4

2

SLIDE 37

37

Appendices

SLIDE 38

ITM structure

38

ITMG 65.00% Indominco Trubaindo Jorong

PT Indominco Mandiri (CCOW Gen.I) PT Trubaindo Coal Mining (CCOW Gen II) PT Kitadin-Embalut (KP) PT Jorong Barutama Greston (CCOW Gen II)

50.00%

PT Indo Tam bangraya Megah Tbk.

Banpu Minerals (Singapore) Pte Ltd 99.99% 99.99% 99.99% 99.99% Banpu Minerals Co.Ltd

Reserves 383* Mt Resources 1,595* Mt

BMS

99.99%

BMC

Banpu PCL

Banpu Public 35.00% Kitadin

PT Kitadin-Td.Mayang (KP)

BCI

50.00% 100.00%

Banpu Coal Investment Co.Ltd

East Kalimantan East Kalimantan South Kalimantan East Kalimantan

INDONESIAN STOCK EXCHANGE IPO 18 th Dec 20 0 7

6,500-7,300 kcal/kg 6,000-6,300 kcal/kg 5,800 kcal/kg 6,700 kcal/kg 5,300 kcal/kg

Output FY12: 14.8 Mt Output FY12: 7.7 Mt Output FY12 : 3.5 Mt Output FY12 : 1.2 Mt

Bharinto

PT Bharinto Ekatama (CCOW Gen III) 99.00%

East / Central Kalimantan 6,400-6,800 kcal/kg

Output FY12 : 0.3 Mt

East Kalimantan

156 Mt 679 Mt

Resources

Reserves

92 Mt 318 Mt

Resources

Reserves

12 Mt 149 Mt

Resources

Reserves

112 Mt 298 Mt

Resources

Reserves

4 Mt 142 Mt

Resources

Reserves

6 Mt 10 Mt

Resources

Reserves

Note: * Updated Coal Resources and Reserves as of 31 Mar 2013

ITMI

PT ITM Indonesia Coal Trading 99.99%

Jakarta Office

SLIDE 39

39

Incom e statem ent

Un it: US$ th o u san d 1Q13 4 Q12 1Q12 Qo Q% Yo Y% Ne t Sale s 5 6 2 ,6 7 5 6 5 8 ,3 16 5 7 7 ,9 5 5

15 %
3 %

Gro ss Pro fit 12 8 ,4 2 2 15 8 ,6 3 8 2 0 9 ,2 0 7

19 %
3 9 %

GPM 2 3 % 2 4 % 3 6 % SG&A (43,67 1) (53,980) (40,025) EBIT 8 4 ,7 5 1 10 4 ,6 5 8 16 9 ,18 2

19 %
5 0 %

EBIT Margin 15 % 16 % 2 9 % EBIT DA 9 8 ,8 6 0 12 0 ,6 0 7 18 3 ,8 5 1

18 %
4 6 %

EBIT DA Margin 18 % 18 % 3 2 % Net Interest Income / (Expenses) 2,07 0 4,107 3,028 Derivative Gain / (Loss) 2,846 (9,032) 26,916 Others 4,660 (5,410) (23,630) Pro fit Be fo re T ax 9 4 ,3 2 7 9 4 ,3 2 3 17 5 ,4 9 6 0 %

4 6 %

Income Tax (22,429) (28,912) (50,999) Ne t In c o m e 7 1,8 9 8 6 5 ,4 11 12 4 ,4 9 7 10 %

4 2 %

Ne t In c o m e Margin 13 % 10 % 2 2 %

SLIDE 40

COMMENTS 40

Operating costs

Managed to lower operating

costs further by another 3% q-

-q (12% on y-o-y basis).
Average strip ratio of 11.7x in

1Q13 down from 13.1x in 1Q12.

Despite higher strip ratio at

Indominco West Block, average operation cost in 1Q13 continues to show q-o-q decline.

ITM will continue to reduce

average stripping ratios in 2013 to cope with lower coal price trend.

Continue to focus on cost

reductions including cut in

verhead costs.

1Q13 AVERAGE OPERATING COSTS

10 20 30 40 50 60 70 80

Mining and contractor cost

* Coal transportations, repair and maintenance, salaries and allowance, etc.

$74 $72 $69 $65 $/t $67

Other production costs*

Dep. & Amortisation

SG&A expenses Royalty

1Q 2Q 3Q 4Q Full year 1Q

$70

Full year 2012 2012 2013 2013E

$63