02 03 04 0501

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

Jan

20

15

Mar

20

15

Jun

201

5

Sep

20

15

Dec

20

15

Mar

20

16

Jun

201

6

Sep

20

16

Dec

20

16

Mar

20

17

Jun

201

7

Sep

20

17

Dec

20

17

Mar

20

18

Jun

201

8

Sep

20

18fob Newcastle - 6300 ICI - 4200 ICI - 3400

Different market between high and low CV

Limited resources of high CV

Import restrictions in China

PLATTS Forward Curve, Oct 1

Source : Company Data

Seaborne Supply Growth

Chinese Import Uncertainty

Risk to Price Differentials

Key Drivers

of Price Forecasts

Ch

ina

Co

al

Inve

nto

ry(i

n d

ays

of

use

)

• Coal inventory still appear adequate (see the chart)

• Slowdown in power demand and coal burn in China

• So, China began import restrictions due to sufficient inventory

Seab

orn

e Su

pp

ly

Fore

cast

(in

mn

t)

• Exports will still likely increase, particularly in 1Q19 (see the chart)

• Increasing supply in Indonesia, Australia and Russia

DMO Regulation

Import Restrictions in

China

The DMO policy requires coal mining firms to sell at

least 25 percent of their production in the domestic market

China's customs still maintain strict volume quotas for coal in an

effort to reverse growth in imports that run counter to the

policy goals of the country's main planning agency

Increase in Coal Production

Volume

ABM is an integrated energy company with current focus on Coal and its group Structure is established around integrated coal value chain

COALCORE Coal Mining

Mining Mining Contractor

Support mining from development stage, Coal production (pit to port until reclamation of mine)

ENABLER

Integrated Logistics Solution Manufacturing Fuel Supply

Port Management, Stevedoring, Floating Crane, Harbor Tug,

Tug Boat, TransshipmentLogistics, warehousing solutions

Services Engineered Product Manufacturing

Internal Fuel Management Supply

02 03 04 0501

Global Bond Issuance

Operating Profit (US$)

Cash Balance (US$) Liability (US$)

Revenue (US$)

EBITDA (US$)

29.8%

Gross Profit (US$)

16.9%

18.4%

0.5%

Sewatama Debt Restructuring

52.6%3.6%

02 03 04 0501

PT Tiara Marga Trakindo (“TMT”)

Valle Verde Pte Ltd(“Valle Verde”)

Public

“Reswara” “CK” “CKB” “SSB” “Sewatama” “PWP” “AJN”

PT Tunas Inti Abadi

PT Media Djaya Bersama

PT Bara Energi Lestari

PT Mifa Bersaudara

PT Alfa Trans Raya

PT Baruna Dirga Dharma

PT Dianta Daya Embara

PT Pelabuhan Buana Reja

PT Andara Candria Energi

PT Nagata Dinamika

PT Pradipa Aryasatya

PT Nagata Bisma Shakti

PT Karimun Power Plant

PT Energi Alamraya Semesta

CK 34%

Reswara 36%

SS 9%

CKB 14%

SSB 7%

RevenueUS$690.7mn

CK 18%

Reswara 55%

SS 15%

CKB 11%

SSB 2%

EBITDAUS$166.8mn

Coal MiningEngineering and Manufacturing

Integrated Logistic Electric Power SolutionMining Contractor

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Contribution to Revenue and EBITDA in 2017

Coal MiningEngineering and Manufacturing

Integrated Logistic Electric Power SolutionMining Contractor

>7,600 Employees3 Concessions

2 Provinces

11 Projects

5 Provinces

52 Branches

22 Provinces9 Branches

7 Provinces

120 Projects

22 Provinces

27 Provinces

02 03 04 0501

Coal Production Average Strip Ratio

37.1

29.827.5

40.0 38.7

42.9

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(US$ / mt)

ASP Average Cash Cost

31.5

23.719.8

24.1 23.9

30.1

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(US$ / mt)

5.6 5.45.8

5.3

4.03.4

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(mt)

4.14.8

4.1

5.4 5.2

6.7

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(x)

Coal Production Average Strip Ratio

ASP Average Cash Cost

0.2

1.4

0.5

2.7

1.8

3.7

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(mt)

9.6

2.5

0.7

2.4 2.6 2.2

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(x)

37.4

21.7 22.426.3 26.9 26.5

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(US$ / mt)

50.0

29.225.4

18.7 19.2 16.2

2014A 2015A 2016A 2017A 9M 2017 9M 2018

(US$ / mt)

Overburden Removal (mn bcm)

102.5

131.1 131.3 129.1

97.3104.7

2014A 2015A 2016A 2017A 9M 2017 9M 2018

Coal Production (mn ton)

15.2

17.516.6

17.6

12.5

15.4

2014A 2015A 2016A 2017A 9M 2017 9M 2018

• 6% increase of coal sales volume in MIFA & TIA (combined) compared to previous quarter

• 31% increase in OB Removal compared to the previous year’s quarter due to improvement in productivity and asset utilization. Since engaged with management consulting firms, CK’s operational shows better performance even reaching the highest production level

• Coal Production also increase 23% from last year mainly due to higher coal production in MIFA and AGM site

02 03 04 0501

Revenue

Operating Profit and Operating Profit Margin Net Profit and Net Profit Margin

654.6590.7

690.7

500.9581.5

2015A 2016A 2017A 9M 2017 9M 2018

(US$ millions)

EBITDA and EBITDA margin

135166 167

124157

21%

28%24% 25%

27%

2015A 2016A 2017A 9M 2017 9M 2018

(US$ millions)

5

4255

45

891%

7%8% 9%

15%

2015A 2016A 2017A 9M 2017 9M 2018

(US$ millions)

-38

13 6 10

30-6%

2% 1% 2%5%

2015A 2016A 2017A 9M 2017 9M 2018

(US$ millions)

0.9 0.8

1.6 1.8

0.7 0.7

1.3 1.4

2015 2016 2017 9M 2018

Current Ratio Quick Ratio

0.3%

4.5%6.5%

10.0%

2015 2016 2017 9M 2018 LTM

Return on Capital Employed (ROCE)Liquidity Ratios

3.5

2.52.2

1.5

4.5 3.2 3.0

2.3

2015 2016 2017 9M 2018 LTM

Net Debt to EBITDA Debt to EBITDA

2.7 2.6 2.3

1.6

3.5 3.3 3.2

2.4

2015 2016 2017 9M 2018

Net Debt to Equity Debt to Equity

Debt and Net Debt to EquityDebt and Net Debt to EBITDA

Thank You