20251204_BUMI_Public Expose_31999735_lamp3.pdf

 Attendees                           : The Company:
                                         Physical Attendance:
                                         •     Directors:
                                               - R.A. Sri Dharmayanti (Director)
                                               - Andrew C. Bekham (Director)
                                               - Ido Hutabarat (Director)
                                               - Rio Supin (Director)
                                               - Christopher Fong (Director)


                                         Non-Company:
                                         Virtual (online)
                                         Capital Market Reporters/Observers/Analysts/Investors ± 233
                                         participants.

 Moderator/                          : Renno Wicaksono (Group Head of Corporate Communications and Investor
 Person          delivering              Relations)
 presentation


 Presentation                        : By showing slides of presentation materials to those present, followed
 Method                                  by a Q&A session.

                                         The Q&A session with participants was conducted through a chat box
                                         /Q&A feature, read out by the Moderator and answered by members
                                         of the Company's Board of Directors.


 Questions raised in :                    1)    Media:
 the Q&A, among                                 Could you please tell the performance guidance for production,
 others:                                        sales, revenue, and net profit of BUMI in 2026?


                                          2)    Investor:
                                                What is the company's strategy for 2026 and beyond? Are there
                                                any plans to acquire other mines? What is the expected ratio of
                                                coal mining to other minerals?


                                          3)    Investor:
                                                Do you have any plan for a corporate action in the form of a
                                                Rights Issue (HMETD) in 2026?




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                                          4)    Investor:
                                                Are there any plans for BUMI as a group to expand into the non-
                                                gold metal mining industry, given the projected increase in
                                                demand for copper and aluminum next year?


                                          5)    Investor:
                                                Does BUMI have any intention of acquiring 100% stake in Jubilee
                                                Metals Limited (“JML”) and Laman Mining?


                                          6)    Investor:
                                                What major milestones do management believe could trigger
                                                BUMI's stock rating in the next 12-18 months? Please tell if these
                                                involve non-coal production, debt reduction, or something else?


 Answers to the                      : 1) Media:
 above questions                          In terms of sales, projections for 2026 will be pretty much the same
                                               as this year. KPC's production will be around 53.5 Mt, while
                                               Arutmin's production will be around 22-23 Mt. Total production is
                                               estimated to be between 77-78 Mt in 2026.


                                               Meanwhile, prices in 2026 will remain relatively stable compared
                                               to this year, as global demand and production are currently in
                                               surplus of around 10 Mt. Therefore, revenue will be more or less
                                               the same in 2026 and 2025, unless China increases its coal import
                                               demand again.


                                         2) Investor:
                                            The Company           is   implementing     a   transformation     and
                                               diversification strategy beyond thermal coal business, while
                                               ensuring that existing operations continue to run optimally. The
                                               main focus at present is on the development of metals, minerals,
                                               and downstream projects.


                                               In the next six to twelve months, we plan to announce new
                                               acquisitions in the minerals sector and potential expansions in
                                               related areas. In line with the long-term vision outlined in our
                                               presentation, we are targeting that in the next five to six years or




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                                               by 2031, consolidated EBITDA earnings will be balanced (50:50)
                                               between thermal coal and other assets.


                                         3) Investor:
                                               Currently, the Company has no plans to undertake corporate action
                                               in the form of a rights issue for 2026. However, as a publicly listed
                                               company, any material plans that may arise in the future will
                                               certainly be notified first to the regulator and the Company will also
                                               comply with applicable provisions, including obtaining regulatory
                                               and shareholder approvals as and when required.


                                         4) Investor:
                                            Regarding BUMI's future business development, as previously
                                               announced, BUMI will enter the copper sector. This can be seen
                                               from the acquisition of the Wolfram mine in Queensland,
                                               Australia, which produces copper (concentrates) and gold.


                                               Meanwhile, to explore business opportunities in aluminum sector,
                                               BUMI has also begun a partnership with PT Laman Mining in
                                               West Kalimantan, with the bauxite to be used as the input for
                                               production of alumina. Therefore, for non-coal mining, BUMI is
                                               currently focusing on copper and bauxite.


                                         5) Investor:
                                            For the JML mine in Queensland, Australia, currently, according
                                               to the agreement the Company signed in early 2025, the maximum
                                               stake to be acquired is approximately 65%. There are no further
                                               plans yet as to whether the Company will increase its ownership
                                               in JML. Management is currently focused on ensuring the JML
                                               mine operates as planned. Only then will we decide whether
                                               BUMI will increase its ownership in JML.


                                               Similarly, for Laman Mining, according to the initial agreement,
                                               BUMI will acquire up to 45% of PT Laman Mining. We are
                                               currently focused on completing the first phase of the acquisition
                                               process, and there are no further discussions regarding increasing
                                               our ownership in Laman Mining. We continue to develop this
                                               business in stages.




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                                         6) Investor:
                                            The diversification of non-coal businesses will be a strong signal
                                               to the market that the Company's transformation is effectively
                                               underway. Furthermore, the strengthened fundamentals of
                                               financial performance will generally encourage a re-rating.


                                               Other external factors, such as rising commodity prices or policy
                                               changes, could also stimulate investor interest and act as positive
                                               catalysts for a re-rating.



We hope all the informaton contained herein is sufficient.




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            Documentation Annual Public Expose of PT Bumi Resources Tbk virtually.




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