PT Indo Tambangraya Megah Tbk : ITM Analyst Presentation 1Q22

1Q22

PERFORMANCE RESULT

18 May 2022

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DISCLAIMER

The information contained in this presentation is intended solely for your reference.

This presentation contains "forward-looking" statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regarding ITM's future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where ITM participates or is seeking to participate and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "will", "may", "project", "estimate", "anticipate", "predict", "seek", "should" or similar words or expressions, are forward- looking statements.

The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which ITM will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. ITM does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company.

ITM makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not indications of future performance. In no event shall ITM be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. ITM makes no representation whatsoever about the opinion or statements of any analyst or other third party. ITM does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement.

This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell ITM's securities in any jurisdiction.

Transporting coal through hauling road

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1Q22 Highlights

1Q22 highlights - robust performance continues amidst global uncertainty

Strong coal price has brought a solid positive impacts to ITM financial performance.

1Q22 net profit recorded at $213M, which is 407% increase compared to 1Q21 net profit.

ITM's 1Q22 ASP increased to

$150/ton (+5% qoq or +121% yoy) as coal price environment remain strong due to global demand-supply dynamics and geopolitical conflicts.

1Q22 production level achieved the targeted number at 3.8Mt despite export ban ruling in Indonesia during January 2022.

1Q22 EBITDA recorded at $323M (-13% qoq or +277% yoy) while strong balance sheet is maintained with the cash position increased from $691M in 4Q21 to $922M in 1Q22.

ITM, through its subsidiary IMM, planted 40k

mangrove trees in order to support the

biodiversity. On top of that, ITM also delivered 14 community development programs worth of Rp 2 billions to the government in 1Q22.

On 24 March 2022, AGMS has approved

the total FY21 dividend amounting to

$332.9mn (70% dividend payout ratio). The final dividend per share (after reduced by the interim dividend) was Rp3,040/share with the recording date as of 5 April 2022.

PT Cahaya Power Indonesia (CPI) is

established as the first step of ITM to tap into the solar rooftop business. CPI has signed a solar rooftop Power Purchase Agreement (PPA) with a total capacity of 5.9 MWp in 1Q22.

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ITM resilience framework for promising future during challenging period

Difficult economics

situation: potentially lower economic growth but high inflation that may cause economic stagnation

Increasing pressure to transition to net- zero economies to anticipate the climate change

Regulatory risk by the

sudden changes of

domestic regulation, e.g.,

export ban in January

Cost		Robust
management
	operations
and strong
	and business
balance sheet
	process
	Risk Management
ESG focus	People and	Revenue
and	Corporate
Business Optimization
digitalization	Culture
Strategy and
Stakeholders	Organization
Relationship	Structure

Data driven organization

Russia - Ukraine war and the geopolitical tension spread across the world which disrupt international trade and global supply chain

Unprecedented

very high

commodity price and volatile coal price environment

Global health

problems: 2 years+ COVID-19 pandemic and its socioeconomic impacts

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