20240701_DOID_Laporan Informasi dan Fakta Material_31677239_lamp2.pdf

PRESS RELEASE                                                           FOR IMMEDIATE RELEASE


 Delta Dunia Group completes acquisition of Atlantic Carbon
 Group, Inc., a key global ultra-high-grade anthracite producer
     ▪   The transaction is completed via American Anthracite SPV I, LLC, a controlled entity under
         BUMA International.
     ▪   The acquisition enhances Delta Dunia Group’s geographic and revenue diversification,
         aligning with its strategic growth objectives.
     ▪   ACG represents a value-accretive acquisition expected to boost the Group’s revenue, backed
         by secured long-term contracts with key customers.
     ▪   The acquisition fosters collaboration among ACG, BUMA, and the Group’s other businesses,
         enhancing safety and mining operations through shared experiences and best practices.

Jakarta, July 1, 2024 – PT Delta Dunia Makmur Tbk (Delta Dunia Group, IDX: DOID), through
American Anthracite SPV I, LLC, a controlled entity under PT Bukit Makmur Internasional (BUMA
International), has completed the strategic acquisition of Atlantic Carbon Group, Inc. (ACG) for USD
122.4 million. This acquisition secures ownership of four producing Ultra-High-Grade (UHG) anthracite
mines in Pennsylvania (USA) and positions Delta Dunia Group as a pivotal player in the global UHG
anthracite market, crucial for the production of low-carbon steel (LC steel).

This deal marks a significant milestone for the Group, expanding its operations from a mining service
provider to global mine ownership. The deal diversifies the Group’s business into future-facing
commodities, allowing it to seize opportunities in a key mining region. Acquiring ACG also accelerates
the Group's strategy to diversify its geographical presence and reduce its dependence on thermal coal
in its revenue mix.

ACG not only holds strategic importance but also serves as a value-accretive acquisition for the Group
due to its valuation, leverage, and earnings impact, while expanding relationships with key customers
and stakeholders. The addition of ACG is projected to generate USD120 – 130 million in the Group’s
revenue per year from 2024 to 20281. Moreover, it significantly diversifies Delta Dunia Group’s revenue
mix, increasing non-thermal revenue from 19% in FY2023 to 28% in FY2024, aligning with the Group’s
strategic goals of reducing reliance on thermal coal.

Ronald Sutardja, President Director of Delta Dunia Group, said, "We are proud to have successfully
completed this acquisition, marking a critical milestone in our strategic expansion and diversification
efforts. The long lifespan of ACG's four active mines, sufficient to support over 25 years of mining and
capable of supporting the production of up to 25 million tons of LC Steel annually, coupled with market
strong market demand for UHG anthracite, positions us well for sustained future growth. This acquisition
enables ACG and BUMA’s operations in Indonesia and Australia, along with our adjacent businesses,
to synergistically leverage their extensive experience, best practices, and innovative approaches in
safety, mining operations, and management."

BUMA has a strong track record of successfully integrating and growing its portfolio companies’ post-
acquisition and expect to do the same with ACG. Leveraging its capabilities, BUMA has significantly
expanded its global footprint from Indonesia by acquiring BUMA Australia in 2021. Since then, BUMA

 1 Expected revenue in FY24-28 assuming UHG anthracite price at USD250/t.




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