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Page 1
CORPORATE PRESENTATION
PT Bukit Asam (Persero) Tbk
1H2026 Results & Updates
Page 2
Agenda Company Overview Performance Highlight Sustainability Performance Business Development
Page 3
1H2026 Results and Updates Company Overview
Page 4
BOARD OF COMMISSIONER
IDA BAGUS PUTU DUNIA DEWI HANGGRAENI DALU AGUNG DARMAWAN
Independent Commissioner Commissioner
President Commissioner -
Independent
ZAELANI LANA SARIA FERIAL MARTIFAUZI
Commissioner Commissioner Commissioner
4
Page 5
BOARD OF DIRECTOR
BAMBANG ISMAWAN UNA LINDASARI ILHAM YACOB
Finance & Risk Management Operations & Production
President Director
Director Director
TURINO YULIANTO HENNITA SITEPU MOCH. RIFQY HARI MUJI
Downstream & Products Human Resources & Company Commercial & Supply Chain
Diversification Director Transformation Director Director
5
Page 6
Our Group Profile
Shareholders structure and composition
Key Facts
• PT Bukit Asam (Persero) Tbk (PTBA) was established on
March 2, 1981 and publicly listed in IDX with ticker “PTBA”
since 2002.
• PTBA is a member of PT Mineral Industri Indonesia (Persero)
(“MIND ID”), a state-owned holding company of Indonesian
Mining SOEs since 2017.
• As of 22 March 2025, MIND ID has become a member of
Danantara, so that PTBA has automatically become part of
Danantara.
• Based on the decision of the EGMS and the provisions of
SOE’s law, the name and status of PTBA are legally changed
to PT Bukit Asam (Persero) Tbk on February 13, 2026.
Shareholders Composition
as of June 30, 2026
12,34%
65,93%
21,59%
MIND ID
Public: Domestic
0,05% Public: Foreign
Treasury Stock
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Our Operational Area
Each IUP’s details and port location
OMBILIN
BANTUAS
Tanjung Enim Tanjung Enim Tanjung Enim
Tambang Air Laya Muara Tiga Besar Banko Barat
PERANAP
Resources : 676 Mt Resources : 294 Mt Resources : 488 Mt
TANJUNG ENIM Reserves : 369 Mt Reserves : 148 Mt Reserves : 226 Mt
GAR: 4900 – 7000 GAR: 4400 – 5000 GAR: 4900 – 5300
Tanjung Enim Tanjung Enim
Banko Tengah A Ombilin
Banko Tengah B
KERTAPATI
Resources : 367 Mt Resources : 102 Mt
Resources : 3.096 Mt
Reserves : 357 Mt Reserves : 0 Mt
Reserves : 1.504 Mt
GAR: 3900 – 4300 GAR: 7100 - 7300
TELUK BAYUR GAR: 3700 – 5300
KANTOR JAKARTA Bantuas (IPC)
Peranap Bukit Kendi**
PERWAKILAN REPRESENTATIVE Bantuas Samarinda
JAKARTA OFFICE
Resources : 671 Mt Resources : 0 Mt
Resources : 19 Mt
Reserves : 279 Mt Reserves : 0 Mt
Reserves : 1 Mt
GAR: 3000 GAR: 4700 - 4900
GAR: 4300 – 4800
BUKIT KENDI
TARAHAN
Coal Resources* Coal Reserves*
5.71 2.88
* As of December 31, 2025 Billion Ton Billion Ton
** Undergo post-mining activities 7
Page 8
PTBA Business Ecosystem
The details of each stream and its status within the corporate structure
19
Subsidiaries
8 7
Direct Indirect
3 1
Joint
Associates
Venture
The merger of PT BEI into PT BEST became effective on June 30, 2026. 8
Page 9
Our Business Process
End-to-end coal supply chain and logistics network
(Via Conveyor
Belt) PTBA Scope
Non-PTBA Scope
1 Sales – Mine
Mouth
Stockpile Mine Mouth CFPP*
*) Bukit Asam CFPP, Banjarsari,
Banko, Sumsel 8
Stockpile Crusher Stockpile Domestic Buyer
to
Tarahan
Port Tarahan CFPP
Front Mine Rotary Car Tarahan
Dumper Stockpile
2 Sales – PT KAI
Crusher/ Train Loading Domestic & Export Buyer
Stockpile Stockpile
Dump Hopper Station
to
Kertapati Apron Kertapati
Port
Feeder Stockpile
Domestic & Export Buyer
3 Sales – 3 Party
rd
Stockpile Train Loading Intermediary
Trucking Third Party Port Export Buyer
Station Stockpile 9
Page 10
1H2026
Results and Updates
Performance Highlight
Page 11
Operational and Financial Key Figures
1H-2026
Operational
Production Stripping Coal Sales
Ratio Transportation*
19.45 MT 5.26 x 18.15 MT 21.10 MT
10% - 1H25 21.73 MT 2026 Guidance: 5.63x 6% - 1H25 19.27 MT 2% - 1H25 21.62 MT
Financial
Revenue Average Cash Cost Net Profit
Selling Price
Rp 22.03 T Rp 1.03Jt/Ton Rp 0.88Jt/Ton Rp2.65 T
8% - 1H25 Rp20.45 T 10% - 1H25 Rp0.93Jt/Ton 1% - 1H25 Rp0.87Jt/Ton 218% - 1H25 Rp0.83 T
*) including transportation other than railways 11
Page 12
Production & Stripping Ratio
Production Recovery Accelerated in 2Q26 with Stripping Ratio Ahead of Full-Year Guidance
Production Stripping Ratio
(in million tons) (x)
QoQ YoY YoY Guidance
-10%
+94%
21.73 6.17
19.45 5.26 5.63
12.83
6.62
1Q2026 2Q2026 1H2025 1H2026 1H2025 1H2026 FY2026
• 2Q26 production recovered strongly (+94% QoQ) after • Stripping ratio improved materially (6.17x → 5.26x) and is
seasonal disruptions. 1H26 production was lower (-10% ahead of FY2026 guidance (5.63x), indicating better
YoY) due to heavy rainfall in 1Q26. mining efficiency.
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Coal Transportation & Sales
Transportation Volumes Moderated as Logistics Efficiency Improved, Supporting Resilient Sales Performance
Coal Transportation Sales
(in million tons) (in million tons)
QoQ YoY QoQ YoY
-2%
-6%
19.27 21.62 21.10
18.15
+8% +8%
10.94 11.78 10.77
9.41 10.16
8.74
17.81 5.40
17.47 5.37
8.34 9.13
9.84 10.33
4.79 5.54
0.40 0.28 1.46 0.68
1Q2026 2Q2026 1H2025 1H2026 1Q2026 2Q2026 1H2025 1H2026
KAI Non-KAI Domestic Export
• Temporary weather disruptions affected transportation • Resilient 1H26 sales despite temporary transportation
volumes in 1Q26. constraints. Effective inventory management has ensured
• Continued optimization toward KAI transportation that market demand continues to be met.
enhanced logistics cost efficiency. • Sales mix remained balanced across domestic and export
• Transportation volumes recovered sequentially in 2Q26. markets.
14
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Sales Area & Portion
In response to the improvement in ICI prices, the company is pursuing market share expansion,
with Pakistan as one of its new target markets
Top Five Sales Destination (% out of total sales) Sales Portion (%)
51% Dom - Others
5%
Dom - Mine Mouth
VIETNAM
9%
12%
10% BANGLADESH
49% Export
7% CAMBODIA
37%
Dom - PLN
6% INDIA
14% OTHERS*
*Others: Thailand; South Korea; China; Malaysia; Philippines; Taiwan; Pakistan; Japan. 15
Page 15
Revenue & Average Selling Price
Revenue Rise Driven by Optimal Sales Mix and Stronger ICI Prices
Revenue Average Selling Price and Coal Index
(in Trillion Rupiah) (in USD/Ton)
ASP
QoQ YoY +5%
+8% 56.59 59.69
1H2025 1H2026
Coal Price
+22%
22.03
HBA-2 NCI ICI-3
20.45
+3% +25% +15%
12.10
9.93
50.44 51.84 102.51 127.87 65.15 74.73
1Q2026 2Q2026 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026
Both QoQ and YoY performance increased, driven by The strengthening index—with the NCI rising up to 25% and ICI 3 gaining
stronger ICI prices and an optimal sales mix, despite a up to 15% YoY—helped boost the ASP, which grew 5% YoY.
slight year-on-year decline in sales volume.
16
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Cost Breakdown
Cost monitoring remains ongoing, with controllable costs successfully maintained at a favorable level
Total Cost/Ton(1)
(in USD)
53.13 53.46 55.19 53.34
5.81 6.33 5.37 6.09
47.32 47.13 49.82
2.74 2.22 2.75 47.25
3.77 4.14 3.51 2.46
1.01 3.97
6.71
7.50 6.71
13.05
5.36
6.28
10.56
4.90
13.15
11.01
11.51
21.70
18.34 16.82
11.35
1Q2026 2Q2026 1H2025 1H2026
(2)
Depre. & Amor. OPEX Other COGS Fuel Transportation Mining Services Royalty
1) Per ton sales
2) Other COGS including spareparts, rent, salaries & wages, land & building taxes, etc
Page 17
Net Profit & EBITDA
Production recovery and successful market optimization, backed by price improvements,
drove positive performance
Net Profit
(in Billion Rupiah)
-185 39 228 -373 2,650
425 94 13
1,576
833
Net Profit Revenue COGS S,G&A Other Income Net Finance Share in JV Income Tax Non Controlling Net Profit
1H2025 Cost Net Profit Interest 1H2026
EBITDA
(in Billion Rupiah)
+94%
4,272
-33 373 -83
2,198 1,817
EBITDA 1H2025 Net Profit Finance Cost Tax Cost Depre & Amor Cost EBITDA 1H2026
A strong combination of improving price indices, an optimal sales mix, alongside effective inventory and cost management, drove
the company's net profit and EBITDA sharply up by 218% and 94%, respectively.
19
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1H2026
Results and Updates
Sustainability Performance
Page 19
Sustainability Performance Highlights
1H-2026
ENVIRONMENTAL SOCIAL & ECONOMIC
Biodiversity Preservation*
CSR Funding MSME Upgrading
169 & 130 45.37 12
Species of Fauna Species of Flora Billion Rupiah Business Units
Scope 1 &2 Revegetation Eco-Friendly
Emission Realization Female Employee Product
6.19 2,677 20% 11
%BaU Hectare of Total Employee SPPP based
≈49,504tCO2e Agricultural Irrigation
*) as of December 2025
B BB 44.50
ESG One of the best rating
SCORING/R Management Level, the best 0.6 points higher with between Indonesia coal
ATING among local peers on climate significant improvement on mining company peers
change topic carbon emission control (Market Cap $1.7-2.0
Billion)
21
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1H2026
Results and Updates
Business Development
Page 21
BUSINESS TRANSFORMATION JOURNEY
Towards World Class-Sustainable Energy Company
Briquette World Class
SUSTAINABILITY
Coal Power Generation
1996-2015 Energy Company
1876-1996 2015-2025 >2030
Began operations as a First downstream initiative Transformation into an energy Transformation towards an integrated,
coal company production of coal briquettes company sustainable energy company through
coal downstream development
Coal Mining Coal Mining Coal Mining Coal Mining
Briquette
Briquette Briquette
• Tanjung Enim Plant Coal-Fired Power Plant
• Lampung Plant Coal-Fired Power
Plant - Total capacity
Renewable Energy
1,6 GW
sources of revenue
Renewable Energy
Coal to Potassium Humate &
Potential new
Total capacity 1.02 MWp
Artificial Graphite-Anode Sheet
Alternative Energy
• Coal to SNG
• Coal to DME
23
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OUR FOCUS STRATEGIC THEME FOR GROWTH
Theme 1: Expansion of Coal Transportation
Highlight Project:
Tanjung Enim to Keramasan (Progress: 93.45%)*
Capacity: 20 million tons/year COD: 2H2026
Distance: 158 km Partner: PT KAI and PT KALOG
Others related project to this
theme this year:
Capacity optimization in the
existing Port:
• Tarahan: 27.5 MT → 28.0 MT
• Kertapati: 8.0 MT → 15.3 MT
*as of end of July 2026 24
Page 23
OUR FOCUS STRATEGIC THEME FOR GROWTH
Theme 2: Consolidated Energy Business Development
Total installed capacity ~1.6 GW
Highlight Project:
Others related project:
CFPP Aluminium Smelter CFPP Banjarsari
Location : Lahat, South Sumatera
Location : Mempawah, West Borneo Capacity : 2x110 MW
Capacity : ~1,440 MW Status : COD in 2015
Coal Consumption : 5.5-6.6 MTPA Ownership : PTBA – 59.75%
Coal Quality : ~3,800-4,200 GAR
Ownership : PTBA (as majority CFPP Tanjung Enim
shareholders) Location : Tanjung Enim, South Sumatera
Capacity : 3x10 MW
Status : COD in 2012
Ownership: PTBA – 100%
CFPP Sumsel-8 CFPP Tarahan
Location : Tanjung Lalang, South Sumatera Location : Tarahan, Lampung
Capacity : 2x660 MW Capacity : 2x8 MW
Status : COD in October 2023 Status : COD in 2013
Ownership : PTBA – 45% Ownership: PTBA – 100%
25
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OUR FOCUS STRATEGIC THEME FOR GROWTH
Theme 2: Consolidated Energy Business Development
Total installed capacity ~ 1.2 MWp
Highlight Project: Others related project:
Bali Mandara Airport Control Centre
Solar Panel Power Plant
Toll Road Bandara Soekarno Hatta
at Krakatau Industrial Estate
Operating
Capacity: 400 kWp Capacity: 241 kWp
Capacity: 303 kWp Partner: Jasa Maga Partner: Injourney Airports
COD: June 2025 EPC Contractor – Perumahan Duren Tiga
Partner: PT Timah Industri PLTS Semen Baturaja Bukit Asam
Capacity: 23 kWp Capacity: 61 kWp
Partner: Semen Baturaja Partner: Bukit Multi Properti
Sides of operational area:
Post-mining land: Tanjung
Perajen, East Borneo, and West
Enim, Ombilin, and Bantuas
Development
Sumatra
Capacity: TBC Capacity: up to 200 MWp
Partner: Pertamina NRE Partner: TBC
Jakarta Industrial Estate
Pulo Gadung Toll Road
Capacity: up to 2 MWp
Capacity: 238 kWp
Partner: PT BEST* & Jasa Marga
Partner: PT BEST* & PT JIEP
*The development projects are being carried out through PTBA's subsidiary, namely
PT Bukit Energi Service Terpadu (BEST). 26
Page 25
OUR FOCUS STRATEGIC THEME FOR GROWTH
Theme 2: Consolidated Energy Business Development
Coal Downstreaming Project: Coal Research & Development Project:
Coal to Dimethyl Ether/Methanol Extracting Low Rank Coal → Potassium Humate
Status : Engagement with potential Status : Exploring Commercialization
partners (technology, financing, Opportunity
Coal Capacity : off-taker) Partner : Universitas Gadjah Mada
Target COD : 6.9 MTPA Production : - Phase I – 173 ton/year (COD 2026)
Partner : Q4 2030 Capacity - Phase II – 10,000/year (COD 2028)
Danantara & Pertamina Objective : Support Fertilizer Ecosystem
Coal to Synthetic Natural Gas Coal to Artificial Graphite and Anode Sheet
Status : Stage gate review FS Production Target : - Artificial Graphite - 200 tons/month
Coal Capacity : 9.78 MTPA (Pilot Plant) - Anode Sheet - 41.5 tons/month
Target COD : Q1 2032 Status : Laboratory testing and exploring
Partner : Pertamina Gas Negara potential off-taker
Partner : BRIN
Objective : Support Battery Ecosystem
27
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Corporate Strategic Focus
Coal Allocation by Business Stream
Business Development
Themes Coal Business Existing Facilities & Initiatives
Coal Logistic Tanjung Enim - Kertapati
Tanjung Enim - Tarahan
Accelerate Monetization 1.736 Tanjung Enim – Kramasan
1 by Expanding Capacity 2.88 *
Million ton New Logistic Facility to North & South
Billion ton End Sumatra
Coal Reserves
Coal to Energy
CFPP Banjarsari 2 x 110 MW
CFPP Sumsel-8 2 x 620 MW
303 CFPP Aluminum Smelter
Million ton
Hybrid CFPP in Sumatra
Energy Business
2 Development Allocation of Coal Downstream
low-rank coal Coal to DME
reserves dedicated Coal to SNG
to downstream 842 Coal to Chemical (Potassium Humate)
development Million ton – to Support Agriculture
Maximizing Value
Non Coal Business
3 Through Downstream
Green Business Distributing Solar PV in total 1.02 MWp
Post-Mining Solar PV
Infrastructure Bukit Asam Coal Based Industrial Estate
Notes: Operating On Going Strategic Initiative *As of December 31, 2025 28
Page 27
For further information:
Contact : Aldy Pratama Iswardi
Position : Head of Investor Relations
Office : PT Bukit Asam (Persero) Tbk
Menara Kadin Indonesia, 15th Floor
Jl. HR Rasuna Said Blok X-5, Kav. 2&3
Jakarta 12950, Indonesia
Phone : +62 21 5254014
Email : investor.relations@bukitasam.co.id
Website : www.ptba.co.id
Names mentioned 20 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT KAI Crusher
p.9
unresolved
org
PT KAI
p.22
unresolved
org
PT KALOG Others
p.22
unresolved
org
PT Timah Industri
p.24
unresolved
org
PT JIEP
p.24
unresolved
org
PT Bukit Energi Service Terpadu
p.24
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