20241220_DOID_Laporan Informasi dan Fakta Material_31830326_lamp2.pdf

The strengthening of the Indonesian Rupiah (IDR) and Australian Dollar (AUD) against the US Dollar (USD),
along with a stable Secured Overnight Financing Rate (SOFR), has enabled the Group to manage financial
pressures more effectively. In 9M 2024, the Group experienced a 20% YoY increase in finance costs due to
forward-looking growth investments, leading to a net loss of USD 17.4 million – a significant improvement from
the USD 26.6 million net loss reported in the first half of 2024. It's important to note that this loss is primarily
attributed to proactive measures taken to strengthen the Group's financial foundation, including early debt
repayment and bond buybacks. These actions, while impacting short-term results, are expected to reduce interest
expenses and enhance financial flexibility over the long term.

Iwan Fuad Salim, Director at Delta Dunia Group, stated, “9M 2024 marked another pivotal phase in our
transformation journey, underscored by major milestones solidifying our path toward sustained growth. Our
rigorous focus on operational excellence, geographic expansion, commodity diversification, and sustainability
positions us robustly in the global mining landscape. Through strategic acquisitions, significant contract wins, and
our further diversification toward non-thermal coal and base metals, we are building a diversified, future-ready
business that delivers enduring value for all stakeholders.”

Strategic Investments and Important Contracts Fuel Long-Term Growth

The Group has achieved significant milestones that substantially enhanced its future growth. Key developments
include an 11-year, USD 7.8 billion contract extension with PT Indonesia Pratama (IPR), a Bayan Group
subsidiary, and a two-year, AUD 200 million annual extension for Australia’s Meandu Mine with TEC Coal Pty
Ltd. Additionally, a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima (PKP) in Central
Kalimantan. These agreements not only spread-out risks but also strengthened the Group’s portfolio's geographic
spread, effectively tripling the Group’s order book to over USD 12.7 billion, reinforcing customer confidence in the
Group’s operational capabilities and commitment to long-term partnerships.

The Group also took significant steps to solidify its foundation for sustainable growth through strategic
acquisitions. The acquisition of a majority stake in Atlantic Carbon Group, Inc. (“ACG”) marks its entry into the US
market, expanding its business into mine ownership. ACG's financial and performance results, denominated in
USD and thereby insulated from foreign exchange risks and currency fluctuations, have been consolidated into
the Group's Q3 2024 results. With the inclusion of ACG’s ultra-high-grade anthracite, non-thermal coal now
accounts for 26% of the Group's revenue, reducing the proportion derived from thermal coal, which currently
stands at 74%. Non-thermal coal revenue is projected to reach 28% by the end of 2024.

Moreover, to strengthen its presence as a mine owner, the Group has further entered a binding agreement to
acquire a 51% stake in the Dawson Complex, one of Australia’s largest metallurgical coal mines. This high-
capacity operation features an annual production capacity of more than 8 million bcm, over 20 years of reserves,
and a resource life of 50 years, with a Coal Handling and Preparation Plant (CHPP) capacity surpassing 12 million
tons per annum. The Dawson Complex, operational for over 60 years, has fostered strong relationships with key
Asian markets, including India and Japan. The Group has also increased its stake in 29Metals Limited, an
Australian copper-focused base and precious metals mining company, to advance its diversification into base
and precious metals, further reducing its reliance on thermal coal.

Focusing on strategic expansion and diversification, the Group's capital expenditures reached USD 133.1 million
in Q3 2024, marking a 79% increase YoY. These investments enhance operational efficiency and facilitate growth
through expansions at existing sites, alongside Repair and Maintenance (R&M) costs that ensure the longevity
and efficiency of the Group’s assets, in line with its full-year Capex guidance of USD 150 million to USD 190
million. Simultaneously, improved working capital management led to a 2% increase in operating cash flow,
reaching approximately USD 232 million. Free cash flow (FCF) was recorded at USD 80.2 million. However, post-
acquisition FCF decreased to USD -35.6 million due to strategic investments, particularly in ACG and contract-
linked Capex. These investments represent the Group’s commitment to growth and building a lasting legacy.



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Financial Strength and Commitment to Shareholder Value

The Group remains committed to enhancing shareholder value while sustaining a strong financial position
through prudent financial management, strategically aligning debt maturity with the lifespan of its operational
equipment. As of September 2024, the Group marks a healthy Net Debt/EBITDA ratio of 2.17x. Recent
acquisitions, including ACG, are expected to drive improved performance and further strengthen this ratio as
ACG’s EBITDA is fully integrated.

The successful issuance of BUMA II 2024 Rupiah Bonds in September 2024, which was 1.4x oversubscribed,
demonstrates robust investor demand and confidence in BUMA’s cash flow management and credit profile. This
bond issuance has enabled BUMA to secure greater investor commitments for longer-term tenors, significantly
enhancing its ability to manage its debt maturity profile effectively.

“We are dedicated to maintaining solid financial management, especially in upholding strong credit metrics and
reinforcing our strong presence in the mining sectors in Indonesia, Australia, and the US. The financing strategy
we have implemented strengthens our financial foundation and enables us to grow our business, cementing our
reputation as a globally diversified mining company,” Iwan concluded.

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About PT Delta Dunia Makmur Tbk (Delta Dunia Group):
Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in
Indonesia, Australia, and the USA. Our principal subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), is a leading provider
of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd). In June 2024,
through PT Bukit Makmur Internasional (BUMA International), it acquired the majority of Atlantic Carbon Group, Inc. (ACG)
and became the leading producer of ultra-high-grade anthracite coal in the USA, further strengthening the Group’s global
footprint in the mining industry.

In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital
(BTech), developing AI deep learning technologies to improve operational efficiency, reduce emissions, and minimize
Occupational Health and Safety (OHS) operational risks and PT BISA Ruang Nuswantara (BIRU), a social enterprise
dedicated to education, vocational schools, and fostering circular economy.

Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and
is supported by a workforce of over 16,000 employees across Indonesia, Australia, and the USA. In June 2024, Delta Dunia
Group was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that
identifies the region’s largest companies by revenue.

For further information, please contact:

PT Delta Dunia Makmur Tbk
Corporate Communications
Email: communications@deltadunia.com
Website: www.deltadunia.com
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