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Oct 28, 2022 •551 likes •745 views

0 www.bayan.com.sg Executive Summary Overall financial performance in FY 2016 increased compared to FY 2015 FY 2016 (in million USD) 2014 2015 Var (2) 828.3 465.0 555.2 Revenue (1) 19% 97.0 122.8 212.6 Gross Profit (1) 73%

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  2. Executive Summary Overall financial performance in FY 2016 increased compared to FY 2015  FY 2016 (in million USD) 2014 2015 Var (2) 828.3 465.0 555.2 Revenue (1) 19% 97.0 122.8 212.6 Gross Profit (1) 73% Gross Profit Margin 12% 26% 38% 1) Revenue, Gross Profit include coal and non-coal sales ; 2) 2016 Unaudited Figures FY 2016 2015 2016 B Var (4) Sales Volume (milion MT) 8.9 16.3 13.0 20% Coal Production (million MT) 11.3 14.8 9.8 34% Average Selling Price (US$/MT) (1) 52.1 36.6 42.8 14% Average Cash Costs (US$/MT) (2) 43.2 28.2 29.8 -6% 1) Average Selling Price includes coal and non-coal sales ; 2) Average Cash Costs include Royalty, Barging, SGA; 3) B stands for Budget Figures 4) 2016 Unaudited figures Actual ASP was higher than the Budget  1 www.bayan.com.sg

  3. Executive Summary - continued 4Q16 Coal Production achieved was 3.0 million MT which was lower than  Budgeted of 3.7 million MT as the result of WBM’s coal reserves in the western area have been depleted (CA11). However, the management has reached an agreement with the neighboring concession holder in regards of the timing of commencement of mining in the boundary area (CA12). Management believes that the coal mining should begin towards the end of the first quarter of 2017. 4Q16 SR was 3.0:1 which was higher than 3Q16 and the Budget as result  of the use of opportunistic dozer push and the geotechnical issues on site at TSA/FKP partially offset with further reduction of WBM as coal reserves in the western area have been depleted (CA11). FY Capex was US$ 25.9 million which was lower than Budgeted  principally due to delay in commencement of Tabang/ Pakar which has resulted in timing difference. 2 www.bayan.com.sg

  4. Executive Summary - continued 4Q16 Cash costs were US$ 28.0/MT which was lower compared to 3Q16  of US$ 29.8/ MT Decrease in Others (Selling) due to ENEL Sales Penalty adjustment • in 3Q2016 amounting to US$ 6 million which did not recur in 4Q2016 Decrease in Salaries and Allowances due to the THR and Bonus • distributed in 3Q2016 which did not recur in 4Q2016 Partially offset with: Increase in Professional Fees due to various year end accruals for • Audit, KSC case (Drew & Napier) and monitoring accountant fees (Borelli Walsh) the 4Q16 ASP was principally in line with the Budget of US$ 28.8/MT  3 www.bayan.com.sg

  5. 4Q 2016 Overburden Removal Coal Production Weighted Average Strip Ratio Average Cash Costs Coal Sales Average Selling Price Committed & Contractual Sales Debt and Cash Position Capex 4 www.bayan.com.sg

  6. Overburden Removal (OB) Overburden Removal (million BCM) 4Q16 OB was 9.2 million  BCM which was lower than 10.4 9.3 3Q16, Budget 4Q16 and 9.5 9.2 4Q15 due to further reduction of WBM as coal reserves in the western area have been depleted (CA11) coupled with geotechnical 4Q15 4Q16B 3Q16 4Q16 issue at TSA/FKP Note : B stands for Budget Figure The management had  Overburden Removal reached an agreement with (in million BCM) 4Q15 4Q16 neighboring concession Teguh Sinar Abadi/ Firman holder in regards to the 4.8 4.7 Ketaun Perkasa timing of commencement of Perkasa Inakakerta 1.1 1.3 mining in the boundary area Tabang Concessions 2.4 3.1 (CA12) Wahana Baratama Mining 1.2 0.1 Total 9.5 9.2 4Q16 Overburden removal was 9.2 million BCM which was lower than the 4Q16 Budget 5 www.bayan.com.sg

  7. Coal Production Coal Production Volume (million MT) 3.7 4Q16 coal production was  3.4 3.0 3.0 3.0 million MT which was principally in line with 3Q16. However it was slightly lower than 4Q16B and 4Q15 primarily due to WBM has stopped its coal production, as a result of CA11 4Q15 4Q16B 3Q16 4Q16 Note : B stands for Budget Figure The management had  reached an agreement with Production (in million MT) neighboring concession 4Q15 4Q16 holder in regards to the Teguh Sinar Abadi/ Firman Ketaun Perk 0.7 0.5 timing of commencement of Perkasa Inakakerta 0.2 0.1 mining in the boundary area Tabang Concessions 2.0 2.4 (CA12) Wahana Baratama Mining 0.5 - Total 3.4 3.0 4Q16 coal production was 3.0 million MT which was lower than the 4Q16 Budget 6 www.bayan.com.sg

  8. Actual Weighted Average Stripping Ratio (SR) Weighted Average Strip Ratio 4Q16 weighted average  3.1 3.0 2.9 2.8 stripping ratio was 3.0 : 1 which was slightly higher than 4Q15 due to the higher SR at TSA/FKP as result of the use of opportunistic dozer push and the 4Q15 4Q16B 3Q16 4Q16 geotechnical issues on site Note : B stands for Budget Figure Weighted Ave SR Weighted Average SR (:1) 4Q15 4Q16 Teguh Sinar Abadi 7.1 10.1 Perkasa Inakakerta 5.6 7.4 Tabang Concessions 1.2 1.3 Wahana Baratama Mining 2.4 - Total 2.8 3.0 4Q16 actual weighted average strip ratio of 3.0 : 1 which was slightly decreased than 3Q16 and 4Q16 Budget 7 www.bayan.com.sg

  9. Average Cash Costs Average Cash Costs per MT (*) (US$ / MT) 4Q16 Average Cash Costs were lower  39.6 than 3Q16 and 4Q15 due to: 28.2 29.8 28.0 Higher sales volume which  decreased certain unit cost as follows: 4Q15 2016B 3Q16 4Q16 Salaries, wages and  allowances under other costs * (1) Average Cash Costs include Royalty, Barging, SGA (2) US$ is a convenience translation using the average quarterly and general and exchange rate for the quarter numbers (3) B stands for Budget Figure administrative cost Coal mining & hauling  4Q146 Cash Costs were principally in  line with the Budget 4Q14 average cash costs were US$ 65.5 / MT which exceeded the range of the 2014 Budget 8 www.bayan.com.sg

  10. Coal Sales (by volume) Coal Sales Volume (million MT) 3.9 3.7 3.6 4Q16 coal sales volume was 3.9  million MT which was higher than 2.5 3Q16, 4Q15 and 4Q16B due to changes in shipping schedule. India and China account for 53%  of the total sales volume in 4Q15 4Q16B 3Q16 4Q16 4Q2016 Note : B stands for Budget Figure Geographic Distribution (4Q16) Top Customers 4Q2016 (by Sales  Volume) are Thermal Powertech, Others TNB Fuel, ADANI Philippines 4% 5% Indonesia 7% India Top customers YTD (by sales  Japan 37% 8% volume) are: ADANI, TNB Fuel, and CV Sumber Sarana Indah Korea 9% Malaysia 14% China 16% 4Q16 coal sales volume was 3.9million MT which was higher than 4Q16 Budget 9 www.bayan.com.sg

  11. Average Selling Price (ASP) Average Selling Price (*) 4Q16 ASP for Coal was US$ 44.0 / MT  which was higher than 3Q16 due to higher benchmark prices as temporary (US$ / MT) production cuts in China and a 56.7 continued rainy season in Indonesia 45.7 41.9 35.09 which has made supply become tight. 4Q16 average CV was 4,613 GAR kcal  compared to 3Q16 at 4,878 GAR kcal 4Q15 4Q16B 3Q16 4Q16 (1) ASP includes coal and non-coal sales * (2) US$ is a convenience translation using the average quarterly exchange rate for the quarter numbers (3) B stands for Budget Figure 4Q16 ASP was US$ 45.7/ MT which was higher than 4Q16 ASP Budget 10 www.bayan.com.sg

  12. Committed and Contracted Sales As at 31 January 2017 committed and  13.2 million MT contracted sales were 13.2 million MT with an average CV of 4,600 GAR kcal 2017 Fixed Price element at US$ 45%  47.11/ MT with an average CV of 4,600 GAR kcal 55 % 2017 Fixed Price Floating Price Note : January 2017 11 www.bayan.com.sg

  13. Net Debt and Cash 470.3 465.6 465.4 456.9 453.9 444.1 429.9 425.9 (in million US$) 150.6 130.7 121.2 91.0 88.1 85.3 83.7 70.4 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Net Debt Cash Note : Total Net Debt and Cash + Debt Service Reserve Account (DSRA) As of 31 December 2016, the total TLF Loan was US$ 484.2 million  12 www.bayan.com.sg

  14. Capital Expenditure CAPEX (*) CAPEX YTD WAS US$ 25.9 million:  48.2 CIP in IP and BR for the  construction of the Tabang/Pakar haul road and related infrastructure 25.9 Majority of capex is anticipated to be  spent as equipment mobilization and construction in the Tabang project gains momentum Budget YTD Actual US$ is a convenience translation using the average annual * exchange rate; B stands for Budget Figure 3Q14 ASP was US$ 67.6/ MT which was within the range of the 2014 Budget 13 www.bayan.com.sg

  15. Appendix PT Perkasa Inakakerta PIK PT Teguh Sinarabadi TSA PT Firman Ketaun Perkasa FKP PT Wahana Baratama Mining WBM PT Fajar Sakti Prima FSP Tabang PT Bara Tabang BT PT Brian Anjat Sentosa BAS PT Tanur Jaya TJ PT Silau Kencana SK PT Orkida Makmur OM PT Tiwa Abadi TA Pakar PT Sumber Api SA PT Dermaga Energi DE PT Bara Sejati BS PT Apira Utama AU PT Cahaya Alam CA PT Mamahak Coal Mining MCM PT Bara Karsa Lestari BKL Mamahak PT Mahakam Energi Lestari MEL PT Mahakam Bara Energi MBE PT Graha Panca Karsa GPK 14 www.bayan.com.sg

  16. Appendix Kangaroo Resources Limited KRL PT Dermaga Perkasapratama DPP PT Indonesia Pratama IP PT Muji Lines Muji PT Bayan Energy BE PT Metalindo Prosestama MP PT Sumber Aset Utama SAU PT Karsa Optima Jaya KOJ 15 www.bayan.com.sg

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