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Annual Public Expose Jakarta, 1 December 2025
Page 2
Disclaimer
This material contains forward-looking financial projections and estimates with respect to the future operations and
performance of PT Bumi Resources Tbk and its affiliates. Investors and security holders are cautioned that forward-
looking statements are subject to various risks and uncertainties, many of which are difficult to predict and are
generally beyond the control of the company. Such risks and uncertainties could cause actual results and developments
to differ materially from those expressed in or implied by the forward-looking statements. Factors that could cause
actual results to differ materially from those estimated by the forward-looking statements include, but are not limited to,
fuel prices and international coal demand and supply position. Neither PT Bumi Resources Tbk nor any other person
assumes responsibility for the accuracy and completeness of the forward-looking statement in this communication. The
forward-looking statements speak only as of the date of this communication. PT Bumi Resources Tbk is under no duty to
update any of the forward-looking statements after this date to conform such statements to actual results or to reflect
the occurrence of anticipated results or otherwise.
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Agenda
Industry Updates
Bumi Resource at A Glance
Performance Highlights
- Operational Performance
- Financial Performance
BUMI Focus Strategy
ESG Implementation & Company Achievement
3
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Industry Updates
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Global Coal Price
450 • Thermal coal prices declined
International Coal Price due to ongoing stock
425
2017 - 2025 surpluses in China and India,
450
400
375
International Coal Price as well as falling demand in
425 Europe.
350
2017 - 2025
400
325 • Meanwhile, the Coal
Index Price Summary :
375
300 - GCNEWC Oct’25 - $103.95 (up $0.09 from Sep’25)
Reference Price (HBA) for the
Index Price Summaryst
- HBA Nov’25 1 half - $103.75 (down $5.99 from Oct’25 2nd half) first period of November
350
275 - GCNEWC Oct'25 - $103.95 (up $0.09 from Sep'25)
- HBA Oct'25 2nd half - $109.74 (up $2.80 from Oct'25 1st half) 2025 corrected by 5.99
250
325 points to USD 103.75 from
225 USD 109.74 in the previous
300 Index Price Summary
200
period. This decline was
275 - GCNEWC Oct'25 - $103.95 (up $0.09 from Sep'25) driven by weaker coal
175 - HBA Oct'25 2nd half - $109.74 (up $2.80 from Oct'25 1st half) demand from China,
250
150 Indonesia’s largest coal
225
125 importer.
100
200
75
175
50
150
25
1250
2017 2018 2019 2020 2021 2022 2023 2024 2025
100 GC Newc HBA ICI 5000 ICI 4200
75
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Global Coal Demand
Seaborne Thermal Coal Demand, 2023 - 2026
400
• In 2025, global coal demand is
350 remained at a similar level to 2024.
Lower-than-expected consumption
300 in China and India is offset by
stronger-than-anticipated demand
250 in other regions, resulting in an
(in million tonnes)
overall flat projection for 2025 and
200 2026.
150 • China still become the dominant
force shaping global coal demand,
100 with its electricity sector serving as
the primary driver, influenced by
50 rising power needs and the pace of
renewable energy deployment.
0
China India Japan South Korea Europe ASEAN Others
2023 2024 2025 (Forecast) 2026 (Forecast)
Source: Internal data as of 30 October 2025
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Domestic Coal Outlook
Indonesia Coal Production
10% • During 9M25, Indonesia’s coal production
900
836 volume fell 15% YoY to 509 million tons,
800 775 with export volumes down 4.7% YoY to
750
285.2 million tons due to lower exports to
687
700 China (–16% YoY) and India (–12% YoY), as
616 614 well as the ongoing transition toward
600 558 564 renewable energy.
in million ton
500 456 461
• The Ministry of Energy and Mineral
400 Resources stated that the national coal
production target for 2026 is likely to be
300 below 700 million tons, while 2025
production is projected at around 750
200
million tons—a moderate 10% decrease
100 from the 2024 realization of 836 million
tons—mainly due to weaker demand from
0 China and India.
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025F
Source: Indonesia Ministry of Energy and Mineral Resources
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Bumi Resources at a Glance
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Company Overview
1 One of the largest coal exporters globally
2 2.4 billion metric tons of marketable coal reserves and 6.8 billion metric tons of coal resources (excluding reserves)
❑ Coal production reached 74.7 million metric tons in 2024
3 Leading natural resources group and the largest thermal coal producer in Indonesia (KPC and Arutmin)
4 Ideally located to serve important markets throughout Asia and Europe
5 Open cut mining with captive coal processing facilities
6 Dedicated infrastructure including coal loading terminals, port facilities, captive power plants and coal gives unmatched
competitive advantage
7 Diversification of coal and non-coal businesses
❑ BRMS is a listed entity with an exclusive focus on metals industry
❑ The Company has acquired other mineral assets : Wolfram and Jubilee Metals Limited
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Company Coal Production
120
100
86,3
81,1 78,8
77,8
80 75,0
74,7 73 - 75
71,9
60
40
20
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025(E)
As the largest coal producer in Indonesia, the Company produced 74.7 million tons (MT) of coal in
2024, contributing approximately 9% to the national coal production. In 2025, the Company
production will remain similar to 2024, with projected production around 73-75MT.
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Coal Reserves and Resources
2.4 billion metric tonnes reserves
(in million tonnes)
Reserves Resources
KPC 1) 659 2,807
Arutmin 2)
Bituminous Coal 42 442
Sub-Bituminous Coal 122 979
Sarongga 163 284
327 1,705
Pendopo 3) 1,432 2,292
Total 2,418 6,804
Notes: 1) JORC Report on End of March 2025
2) JORC Report on End of January 2022
3) KCMI Report on End of November 2024
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Guidance 2025
Sales : 73MT – 75MT Price : $59/t - $61/t Costs : $42/t - $44/t 1
KPC : 52MT – 53MT KPC : $62/t – $64/t KPC : $43/t – $45/t
Arutmin : 20MT – 21 MT Arutmin : $52/t - $54/t Arutmin : $38/t - $40/t
1 Royalty and commission not included.
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Performance Highlights
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Operational Highlights
Production
The overall production decline in 9M25 was mainly driven by
9M25 9M24
unfavorable weather conditions in KPC. However, the production
54.9 MT 57.3 MT
in Arutmin rose by 5% YoY.
Price
Realized coal prices decreased in line with the downward trend of
9M25 9M24
global coal prices.
$60.4/t $73.7/t
Production Costs
Overall production costs decreased mainly due to lower unit costs
9M25 9M24
at KPC, driven by lower oil prices and lower stripping ratio.
$42.2/t $46.1/t
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Operational Highlights
(9 months 2025)
KPC Arutmin Combined
Overburden 341.1 103.7 445.8
Strip Ratio 8.6 6.9 8.1
Coal Mined 39.8 15.1 54.9
Coal Sales 39.2 15.3 54.5
FOB Prices 63.2 53.3 60.4
Inventory 2.3 0.4 2.6
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Operational Highlights
OB Removal (in mn bcm)
Coal Mined (in mt)
BUMI 11% BUMI 4% BUMI
500,9 BUMI 57,3 54,9
445,8
393,2 42,9 39,8
342,1
103,7 107,7 14,4 15,1
5%
9M'2024 9M'2025 9M'2024 9M'2025
AI KPC AI KPC
The overall coal production decreased primarily due to a decline in KPC’s output, mainly caused by
unfavorable weather conditions, while Arutmin production rose by 5% compared to previous year.
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Operational Highlights
Stripping Ratio (bcm/t) Coal Sales (mt)
BUMI BUMI
BUMI BUMI
8,7 7% 55,8 2%
8,1 54,5
9,2
8,6
42,3 39,2
7,5 6,9
13,5 13% 15,3
9M'2024 9M'2025 9M'2024 9M'2025
AI KPC AI KPC
Coal sales were lower, in line with the decrease in production levels and weather-related disruptions at KPC,
while Arutmin generated 13% sales growth. However, the Company managed to maintain lower production
cost with various cost reduction initiatives.
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Operational Highlights
Production Cost (USD/t)
FOB Price (USD/t)
BUMI BUMI BUMI
8% 18%
46,1 73,7
42,2
BUMI
60,4
48,3
43,4 78,7
63,2
39,5 39,2 58,2 53,3
9M'2024 9M'2025 9M'2024 9M'2025
AI KPC AI KPC
Production cost declined due to a downward trend in Indonesia’s fuel prices and a lower stripping ratio.
However, the downward trend in global coal prices negatively impacted the realized FOB prices.
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Financial Highlights
(in million USD)
Revenue Gross Profit Operating Profit Net Profit
1.680
169
1.360 161
137
1.037 136
927
94 84
90
57 61
60
25 27
2023 2024 9M'2024 9M'2025 2023 2024 9M'2024 9M'2025 2023 2024 9M'2024 9M'2025 2023 2024 9M'2024 9M'2025
9M24 → 9M25 : Increased 9M24 → 9M25 : Margin Increased 9M24 → 9M25 : Significant Decline
[12% / +USD110M] [GPM: 10.14% vs 15.53%] [-55.88% / -USD76M]
[OPM: 2.70% vs 8.10%]
2023 → 2024 : Significant Decline 2023 → 2024 : Significant Increased
[-19.06% / -USD320.27M] 2023 → 2024 : Margin Increased [235.06% / +USD63.23M]
[GPM: 8.17% vs 12.45%]
[OPM: 3.38% vs 4.49%]
In 9M’2025 the Company recorded 12% increased in Revenue, 72% increased in Gross Profit, and
232% increase in Operating Profit (YoY). Net profit is down by 56% due to non-cash adjustments.
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Financial Highlights
STATEMENTS OF PROFIT OR LOSS STATEMENTS OF FINANCIAL POSITION
9M-2025 9M-2024 % Sep 2025 Dec 2024 %
Revenue 1,037.3 926.9 12%
Cost of Revenue (876.0) (833.3) 5% Current Assets 715.8 772.7 -7%
Gross Profit 161.3 93.6 72%
Non-Current Assets 3,232.8 3,390.7 -5%
Operating Income 84.4 25.4 232%
Total Assets 3,948.6 4,163.4 -5%
Interest Expense (15.0) (12.6) 19%
Other Income / (Expense) 19.1 75.4 -75% Current Liabilities 712.6 768.5 -7%
Income Tax & Profit Sharing (28.4) 48.2 -159% Non-Current Liabilities 426.0 530.7 -20%
Total Liabilities 1,138.6 1,299.2 -12%
Net Income (Loss) Attributable to:
*Owners of The Parent 29.4 122.9 -76% Equity - Net 2,810.0 2,864.2 -2%
Non-controlling Interest 30.7 13.5 126%
Net Income (Loss) 60.1 136.4 -56% Total Liabilities & Equity 3,948.6 4,163.4 -5%
• Reported Net Profit of PT Bumi Resources, Tbk.
• KPC not consolidated.
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Diversification Strategy
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Business Diversification
To d a y M i d Te r m L o n g Te r m
Minerals
Minerals Minerals
Metal
Metal
Chemical / Coal
Downstream
Thermal Coal
Chemical /
Coal
Downstream
Thermal Coal
Thermal Coal
Disclaimer: Illustration purpose only
BUMI is positioning itself to become a more diversified global holding company in mining and processing.
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BUMI Transition Outlook
Forecasted Consolidated EBITDA
120%
100% 2% 5% 10%
80%
50%
60%
98% 95% 90%
40%
50%
20%
0%
2023A 2024A 2025F 2031E
Thermal Coal Non-Thermal Coal
The Company is targeting 50:50 earnings from thermal coal and non-thermal coal businesses by 2031
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ESG Implementation & Company Achievements
Page 25
Environmental, Social and Governance
25
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Awards and Achievements
PT Bumi Resources
Tbk Wins Award at
Indonesia Excellence
Good Corporate
Governance Awards
2025
The Gold Champion
at Bisnis Indonesia
CSR Awards (BISRA)
2025 BUMI’s Award Charter at the 2025 Indonesia
CSR Awards (above)
Arutmin Wins Two Awards at 2025
Merit Achievement Award in Environmental Bina Mitra UMKM Awards The Best Corporate Emission Reduction
Budget Commitment at the CSR Awards 2025 Transparency Awards 2025
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PT Bumi Resources Tbk.
Bakrie Tower 12th Floor
Komplek Rasuna Epicentrum
Jl. H. R. Rasuna Said
Jakarta 12940
T +6221 5794 2080
F +6221 5794 2070
www.bumiresources.com
Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Ministry of Energy and Mineral
p.7
unresolved
org
Ministry of Energy and Mineral Resources
p.7
unresolved
org
Jubilee Metals Limited
p.9
unresolved
person
H. R. Rasuna Said
p.27
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