Company Presentation 1 First Quarter 2013 Disclaimer These - PowerPoint PPT Presentation

PT Toba Bara Sejahtra Tbk ( “ Toba ” ) Company Presentation 1 First Quarter 2013

Disclaimer These materials have been prepared by PT Toba Bara Sejahtra (the “Company”) . These materials may contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice. 2

Content Corporate Profile 1 Operational Profile 2 Business Overview 3 4 Financial Highlights 5 CSR & Environmental Highlights 3

Corporate Profile 1 4

Toba in Brief Toba comprises three coal companies, Adimitra Baratama Nusantara (ABN), Indomining (IM) and Trisensa Mineral Utama (TMU), which hold adjacent concession areas located in East Kalimantan, Indonesia • Strong growth profile • Substantial and diversified thermal coal reserves and resources o Produced 5.2 MM tonnes of coal in 2011 and grew to produce around 5.6 MM tonnes of coal in 2012 o JORC-compliant proved and probable reserves of 147 MM tonnes and measured, indicated and o Prime location provides the operational cost edge to inferred resources of 236 MM tonnes grow as a logistical & operational center for the area o Coal brands with calorific values ranging from o Continued exploration effort to increase our Reserves and 4,700 - 5,800 Kcal / kg GAR Resources. Current reserves only account for 52% of our total area has been explored Dec 2012 Revenue Dec 2012 EBITDA Reserves Resources % % % % TMU TMU 5.4% 3% TMU IM 18.2% 15.0% IM IM 23% 31% IM ABN 15.7% 69% ABN ABN 66.1% 74% ABN 79.6% Total: US$ 31 MM (1) Total: US$ 396 MM Total: 147 MM Tonnes Total: 236 MM Tonnes 5 Note: (1) Includes net income attributable to minority interest (ABN and IM only)

Ownership Structure PT Toba Sejahtra ( “ TS ” ) Davit Togar Pandjaitan (1) PT Bara Makmur Abadi PT Sinergi Sukses Utama Roby Budi Prakoso Public 71.8% 0.8% 6.2% 3.6% 12.5% 5.1% ABN Minorities 49.0% 99.99% (2) PT Toba Bumi Energi ( “ TBE ” ) 51.0% 99.99% (2) 99.99% (2) • 20-year Production Operation Mining • IUPOP expiring in June 2013 • 13-year IUPOP expiring in December Permit ( “ IUPOP ” ) expiring in December 2023 – IUPOP was converted from a KP in 2010 2029 • IUPOP was converted from a KP in • IUPOP extension has been completed in • IUPOP was converted from a Kuasa 2010 License March 2013 (First extension until 2023) Pertambangan ( “ KP ” ) in 2009 • 2,990 ha • • 3,414 ha 683 ha Area • Reserves 8 MT- JORC / 15 MT (Internal • Reserves: 117MT- JORC • Reserve: 22 MT- JORC Reserve estimate) • Resources: 156MT- JORC • Resources: 37MT- JORC 6 • Resources: 43 MT- JORC Notes: 1. Son of TS founder, Luhut B. Pandjaitan 2. Figures are rounded

Majority Shareholder Toba believes it benefits from Toba Sejahtra’ s experience in the Indonesian coal sector as well as its leadership and experience Controlling Shareholder with Established Track Record… … Helmed by an Experienced Leader • A privately owned group founded in 2004 with interests in energy • General (Ret.) Luhut B. Pandjaitan is the key shareholder and and plantations founder of Toba Sejahtra group. He is currently the chairman of TS • Its business segments are as follow: • Mr. Luhut had a long and illustrious career in the civic service before turning to the commercial sector. Over the course of thirty – Energy: Owns 5 coal mining concessions through Toba and PT years in the Army Special Forces, Mr. Luhut rose to become a four- Kutai Energi. All of TS' mines are characterized by low production star general costs and favorable proximity to ports – In 1999, Mr. Luhut retired from the military service to serve as – Oil & Gas: In the exploration phase of the 4,567 sq miles South Ambassador for the Republic of Indonesia to Singapore East Madura Block through subsidiary E&P company PT Energi – In 2000, he was appointed Minister of Industry and Trade of the Mineral Langgeng Republic of Indonesia – Power Plant: Operates a 30 MW coal-fired power plant in Palu, • Thereafter, Mr. Luhut applied his knowledge and leadership skills to Central Sulawesi and is developing a 120 MW greenfield power plant in Senipah, East Kalimantan establish TS in 2004, building it from the ground up into a major business group with interests in energy oil and gas, power and – Agribusiness : A 25% stake in a 12,000 ha palm oil plantation in agribusiness East Kalimantan 7

Initial Public Offering Listed on IDX 06 July 2012 Number of shares offered 210.681.000 shares or 10.47% IPO Proceed Rp. 400,293,900,000 Anchor Investor Barings Private Equity (8% at IPO) Ticker Code TOBA 8

Key Milestones Strong track record of acquisitions, development of greenfield mines, rapid production ramp-up and experience to adjust operation in a down-market 2011 2013 2007 2009 • IM successfully • IM commenced • ABN & IM production • TMU commenced production extended IUPOP production reached 2m tons until 2023 • Toba production hit 5m tons 2007 2008 2009 2010 2011 2012 2013 2012 2008 2010 • Toba acquired the minorities ’ • ABN commenced • TS acquired the remaining share shares in TBE and TMU production for IM from minority shareholder • IPO/Listed on IDX, 6 th July • Operational • Toba acquired 51.0% of ABN, 2012 adjustment due to 52.5% of TBE (IM ’ s shareholding a drop in coal company) and 51.0% of TMU • Eliminated overlapping issues market • Toba production hit 4m tons with plantation company (PKU) 9

Operational Profile 2 10

Solid Operating Track Record Toba is transitioning from Greenfield into growing major player Production Growth MT = Million Tonnes ~5,8 – 6,4 7 ABN ~ 6,5 IM 5,6 6 TMU 5,3 0.3 0.0 5 1.0 Forecast 1.4 Forecast 3,9 4 0.9 3 2,0 4.4 2 3.8 0.9 3.1 1 0,8 1.1 0.7 0,2 0 0.1 2007 2008 2009 2010 2011 2012 2013 TMU Indomining ABN Source: Company data • Toba started exploration on ABN & IM in 2006 and TMU in 2008 • Production grew at 65% CAGR from initial size of 800k in 2008 to 5.6 MT in 2012 • Toba is focusing on Continuous Production Growth and this is supported with available infrastructure capacity of 13 MT of coal • Additional 3 MT worth of capacity is expected to be realized in 3-4Q13 to become total 16 MT 11 • Production growth will be driven by TMU and Additional CAPEX will help fuel growth in TMU

Prime Location Gives Significant Advantage in Cost Prime Location Major City 0 12 24 36 48 Jetty kilometers Muara Transshipment Point Berau 4 3 Major city is Furthest pit to less than 50 jetty 25km | with km Samarinda closest one ~5km ~55 Km Mahakam River (total ~120 Km) NDM Jetty 2 17km Close proximity ~ 5 km IM transhipment ABN Makassar Strait ABN IM Jetty point & jetty TMU ABN Jetty Kutai Energy 17km 1 Adjacent locations for all Muara Jawa ~65 Km 3 mines All infrastructures are owned by Toba’s giving significant operating leverage vs other concessions in surrounding areas 12

Substantial Reserves and Resources to Support Production Expansion Reserves and resources upside from the conversion of resources to reserves and further exploration of concession areas Reserves (1) Resources (1) Coal Reserves and Resources (1)(2) (JORC) MM Tonnes MM Tonnes TMU Coal Reserves Coal Resources TMU 5.4% IM 18.2% (MM Total Total 15.0% Tonnes) Proved Probable Reserves Measured Indicated Inferred Resources ABN 70 47 117 73 70 13 156 IM IM 11 10 22 24 10 4 37 15.7% ABN TMU 5 4 8 9 8 26 43 66.1% ABN 79.6% Total 86 61 147 106 88 43 236 Total: 147 MM Tonnes Total: 236 MM Tonnes 13 Notes: 1. Differences in totals are due to rounding 2. The Runge Report for ABN is as of 31 December 2011, the PT SMG Consulting Report for IM is as of 1 January 2012 and the Marston Report for TMU is as of 31 October 2011

Significant Portion of Area still Unexplored IM ABN TMU Note: Areas already explored • Explored 3,704 of 7,087 hectares of its concession areas (52% of total concession area) and drilled 3,512 boreholes as of 31 December 2011 • Additional JORC coal reserves and resources expected to be discovered, especially at TMU where only 680 hectares out of 3,414 hectares of the concession (20% of TMU concession area) have been explored 14