INVESTOR & ANALYST UPDATE15 NOVEMBER 2021

3Q21 Results

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.

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3Q21

Highlights

01

Conservation of white paperbark forest in Jorong mine area

Cash position gaining further from

$390M in 2Q21 to $510M in 3Q21,

enabling ITM to deliver more value to

shareholders

3Q21 highlights – upbeat financial results amidst extreme weather

4

EBITDA generated at $291M (+111%

qoq or +720% yoy), supported by

strong coal price increase in 3Q21

Stellar coal price

performance driving

the financial performance

and profitability up in 3Q21

despite mining activities

slowed down due to torrential rain

ITM’s 3Q21 ASP soared

into triple digit at US$

111.0/ton (+38% qoq or

+128% yoy), following a

very strong coal price in

the 3Q21

3Q21 production level was

at 4.6Mt (-3% qoq or -7%

yoy), lower than target as

ITM ensure the safe mining

conditions in its operations

Recognition in maintaining high

standard of governance as

acknowledged by receiving TOP

GRC 2021 4-stars award

ITM vaccinated its employee by joining

government vaccination program (>90%

employees at least vaccinated 1 time) and

donating in total Rp 16 bn (equivalent to

$1.1 mn) in 9 cities across 3 provinces

Handed over additional 2,540 ha of

rehabilitated watershed areas, pushing overall

14,433 ha completion since inception.

ITM endorse public health cause of communities and employee

Protecting our

Headquarters employee Starting in July 2021

ITM carried out vaccination

through Vaksinasi Gotong

Royong (VGR) in Siloam

Hospital, Jakarta, ensuring

protection for our Jakarta

employee and their family

members.

Simultaneous vaccinations in

operational areasStarting in July 2021

ITM carried out vaccination through

Vaksinasi Gotong Royong (VGR) to our

employee that worked at the mine sites

and their family members. Vaccination in

Bontang was implemented at several

location in Bontang area (PKT Hospital,

Military base, etc), while vaccination at

Melak was given at our mine site.

Donation to support health

facilities readiness starting in August 2021

ITM donated medical supplies and

health equipment across regional

hospitals and medical facilities across 3

provinces to improve readiness to

response against COVID-19 threat

during 3Q21. ITM also provided training

session and functionality testing of the

equipment.

5

T R A D I N G A N D S E R V I C E S

ITM way forward plan

6

M I N I N G B U S I N E S S

R E N E WA B L E S A N D OT H E R S

Organic coal

reserve growth

Continue on mining

exploration activities

to maximize current

coal resources and

reserves.

Greenfield coal

mines development

GPK mines

development are

undergoing, while TIS

and NPR mines will be

started next year.

Underground coal

gasification

Currently in the

feasibility study of

coal to ammonia

downstream project.

Investment

opportunities in clean techs minerals

Explore potential

investments in high growth

energy trends such as

mineral/metal mining

businesses.

Third-party coal

sourcingGenerating more

revenue through trading

and blending of third-

party coal.

In-house mining contractor

work at Melak cluster

TRUST to expand its mining

operation at Melak cluster by

mobilizing heavy equipment

and labor force.

Natural capital solutions

Investment in reforestation

and/or deforestation

prevention for carbon

offsetting along with land

and biodiversity

improvement.

Solar project potential

partnership

Prospecting potential

partners for solar rooftop

installation to supply

customers energy needs.

Melak solar power plant

Finalization of construction plan

of solar PV in Melak port with

energy storage system to

ensure continuous power output

throughout the day.

Digital solutions for

mining operations

Deployment of digital

solutions for mining operation

which improves monitoring

and cost control capabilities.

0.0

1.0 1.0

2.0

3.0

2021e 2022f 2023f 2024f 2025 Onward

Graha Panca Karsa (GPK) mine update

7

GENERAL INFORMATION

• GPK is a low sulphur, low CV coal concession which has IUP operation

license with concession area of 5,060 ha located in East Kalimantan;

the location is in-close proximity to ITM Melak cluster with concession

just across the Mahakam River/TCM Bunyut Port.

• GPK will produce low CV coal that will enrich ITM product portfolio

through a contrast coal profile compared with current ITM coal products.

• Trial-production is expected to start during late 4Q21 producing ~10 Kt.

• GPK will continue to build the supporting infrastructure, such as hauling

roads and develop its port infrastructure in order to realize its optimum

coal production potential.

• GPK is expected to reach 3 Mt/annum in medium/long-term production

with strip ratio profile of 4-5x.

BEK

TCM

TIS

NPR

Central

Kalimantan

East

Kalimantan

GPK

BunyutPort

S/R (bcm/t)

OUTPUT FORECAST

Unit: Mt

4.0x 2.5x 2.5x 3.5x 4.5x

3,900

CV GAR

(kcal/kg)

0.2

Sulfur

(%)

3.3

Ash

(%)

41.0

Moisture

(%)CO

AL

SP

EC

IFIC

AT

ION

Indicative Only

Trial

Period

EBP inaugural shipment marks the start as ITM coal trading arms

8

KEY BENEFITS

• Enable ITM to capture additional margins without owning reserves.

• Flexibility in logistic arrangement to fulfill different customers requirement.

• EBP ensures high quality product and services:

• Provide desired quality coal from Kalimantan and Sumatra for both

domestic and foreign customers.

• Collaborates with 3rd party coal producers with mutual beneficial

agreement to ensure the availability of coal for the customers.

• All products offered have been verified for its quality.

Jakarta

Muara Berau

Muara Jawa

Bontang Coal Terminal

Muara Musi Banyuasin

OPERATIONAL COVERAGE BUSINESS MODEL

Balikpapan Coal Terminal

Normal or Off-take Shipment

Blended

Product

Vessel

Customer

3rd Party

Mines

ITM Mines

GENERAL INFORMATION

Samarinda Port

Bunyut Port

• PT Energi Batubara Perkasa (EBP) was established to

accommodate ITM coal trading activities.

• EBP commenced its first shipment on August 27th, 2021.

• EBP shipped the traded coal from several shipping points in

Kalimantan and Sumatra Island, including from our Bontang Coal

Terminal (BoCT).

• To ship the coal to its customers, EBP operates 3 types of business

model including normal, offtake and direct shipment.

Jorong Port

3rd Party

MinesVessel

Direct or Off-take Shipment

Operation

Updates

02

Bunyut port equipped with telescopic coal loading technology

Operational summary 2021

10

▪ 3Q21 total output was below target as heavy rainfalls continues to

pour affecting all mine sites.

▪ 4Q21 production output target is expected to increase to 5.5 Mt

assuming the impact of weather condition is manageable with

production increases coming from both Bharinto and Trubaindo.

Lower strip ratio to be anticipated in the next quarter.

East Kalimantan

Bunyut Port

Balikpapan

Palangkaraya

Banjarmasin

Central Kalimantan

South Kalimantan

Samarinda

Jorong Port

1.7

East Kalimantan

4.94.6

4.0

4.7 4.6

5.5

3Q20 4Q20 1Q21 2Q21 3Q21 4Q21e

Unit: Mt

Indominco

Trubaindo

Bharinto

Kitadin

Jorong

OUTPUT TREND

2021 Target:

18.6-18.8 Mt

Kitadin Embalut

1.4 Mt

Indominco

7.3 Mt Trubaindo

4.0 Mt

Bharinto

5.1-5.2 Mt

Jorong

0.9 Mt

S/R (bcm/t)

SCHEMATIC

COMMENTS

10.0x 8.9x 11.5x 10.6x 9.3x10.5x

2.0 1.9 1.8 1.9

3Q20 2Q21 3Q21 4Q21e

Coal operations: Indominco Mandiri

11

▪ 3Q21 production slightly below target volume as Indominco

experienced hampered by bad weather.

▪ Indominco 4Q21 production output target is expected to slightly

increase production volume to 1.9 Mt with lower strip ratio.

S/R (bcm/t) 11.9x 11.0x

East Block

Santan River

Port stock yard

Bontang City

Asphalt haul road

2.5km

35km

Sea conveyor

Mine

stockyard

Inland

conveyor 4km

0 106 82 km4

West BlockROM

stockpile

Post

Panamax

95,000

DWT

2021 TARGET: 7.3 Mt Operations

Stockpile

Barge Ports

Hauling

Crusher

OUTPUT TRENDSCHEMATIC

COMMENTS

Unit: Mt

11.5x 9.7x

0.81.3 1.4 1.6

1.4 0.9 1.01.4

2.2 2.2 2.3

3.0

3Q20 2Q21 3Q21 4Q21e

8.9x 11.9x- Trubaindo:

:

Coal operations: Melak group – Trubaindo and Bharinto

12

▪ Trubaindo:

▪ 3Q21 production missed the target with slightly higher strip ratio due to

heavy rainfalls.

▪ 4Q21 production output target is expected to reach 1.4 Mt with lower

strip ratio.

▪ Bharinto:

▪ 3Q21 production lower than target with lower strip ratio as weather

condition remains wet.

▪ 4Q21 production output target is expected to increase to 1.6 Mt with

higher strip ratio.

Trubaindo

Bharinto

Unit: Mt

7.5x 6.6x- Bharinto:

S/R (bcm/t)

2021 TARGET: TCM 4.0 Mt | BEK 5.1-5.2 Mt

Mahakam

River

South Block 1

(Dayak Besar)

North

Block

40km

Mine to port

ROM

stockpile

Bunyut Port

0 10 2515 205 km

Product coal conveyor,

stacking,

stockpile

Bharinto 60km

south west of

Trubaindo North

Block

South Block 2

(Biangan)

PT. Bharinto

PT. Trubaindo

Kedangpahu

River

PT. TIS

East Kalimantan

Operations

Stockpile

Barge Ports

Hauling

Crusher

OUTPUT TRENDSCHEMATIC

COMMENTS

11.6x 8.4x

6.3x 7.3x

0.4 0.40.3

0.5

3Q20 2Q21 3Q21 4Q21e

Balikpapan

MahakamRiver

Samarindato Muara

Berau

Bontang city

Embalut

Embalut Port

to Muara Jawa

ROM

stockpile

0 106 82 km4

5km Mine to port

TD. Mayang

IMM EBIMM WB

Bontang Port

Operations

Stockpile

Ports

Hauling

Crusher

East Kalimantan

Coal operations: Kitadin Embalut and Tandung Mayang

13

▪ Kitadin Embalut:

▪ 3Q21 production was below target at 0.3 Mt and recorded higher

strip ratio as affected by bad weather condition.

▪ 4Q21 production output target is expected to rise into 0.5 Mt with

lower strip ratio.

▪ In 1Q22, the reserve in Embalut site is planned to be mined out

▪ Kitadin Td.Mayang:

▪ Mine closure and rehabilitation activities has been completed and

now waiting for approval from the government (Ministry of Energy

and Mineral Resources) .

- Embalut:

S/R (bcm/t)

10.6x 17.0x

2021 TARGET: EMB 1.4 Mt Unit: Mt

OUTPUT TRENDSCHEMATIC

COMMENTS

22.9x 15.5x

0.3 0.3 0.2 0.2

3Q20 2Q21 3Q21 4Q21e

Coal terminal

Jorong

Java Sea

Haul road

0 10 2515 205 km

20km

Operations

Stockpile

Ports

Hauling

Crusher

Pelaihari

7.8x 13.4x

Coal operations: Jorong

14

▪ 3Q21 production lower than target at 0.2 Mt as operation remained

hampered by heavy rainfalls.

▪ 4Q21 production output target is expected to remained at around 0.2

Mt level with higher strip ratio.

S/R (bcm/t)

2021 TARGET: 0.9 Mt Unit: Mt

OUTPUT TRENDSCHEMATIC

COMMENTS

11.8x 15.7x

Coal Market

Trends

03

Hauling road area at PT Indominco Mandiri

Global thermal coal market

16* Demand in other countries driven by Vietnam, ** Russia exports to non-CIS countries only *** JKT = Japan, South Korea and Taiw an

Unit: Mt SUPPLY DEMAND DEMAND

Current record prices are likely ease, but we are likely to be in a high-priced

environment through the northern hemisphere winter, and likely well into

2022. High natural gas prices helped to boost coal demand and price. There

is an extra demand owing to strong economic revival and restocking.

▪ China: Massive coal deficit drove domestic coal price to record high.

Government’s price intervention will not ease the market tightness.

▪ India: A severe coal shortage in Q3 driven by strong demand amid

supply constraints caused by rainfall. Rising global coal price keeps

Indian buyers away from imports.

▪ JKT***: The forthcoming colder winter will boost coal demand amid high

gas prices even higher nuclear availability and environmental concerns.

▪ Europe: Economy continues recover from pandemic drove electricity

demand. High gas prices made coal competitive. Coal prices hit record

highs due to strong demand, tight supply and weak renewables output.

SUPPLY

Global supply chain still struggle to recover from the Covid-19 with the

supply growth still lag demand recovery. There is high risks of supply

shortages in the coming winter.

▪ Indonesia: Export growth remains constrained by wet weather, Covid-19

prevention measures, and strong domestic demand. However, exports

still ahead of last year.

▪ Australia: Tight supply availability with limited upside due to constraints

around equipment availability and labour.

▪ Others: South Africa’s exports continue to be challenged by ongoing rail issues. Russia completed maintenance on the railway lines to the Far East with the prospect of increased supplies to Asia in Q4. Colombia’s exports are recovering due to a slowdown in protest actions and a ramp up in production. US thermal coal export is tight due to strong domestic demand and producers and transporters have reached maximum output.

TRENDSCOAL DEMAND AND SUPPLY CHANGE – 2021E VS 2020

EUROPE

+3

+2SOUTH AFRICA

-5+30

SOUTH ASIA

INDONESIA

OTHER N. ASIA

+15

RUSSIA**

+5

CHINA

+30

USA

+13

+5

COLOMBIA

AUSTRALIA

-13

+7

ATLANTIC

+5

-5

OTHERS *

+45

+23

PACIFIC

ITM ASP VS BENCHMARK PRICES

17Note: * Includes post shipment price adjustments as w ell as traded coal

** The New castle Export Index (previously know n as the Barlow Jonker Index – BJI)

COMMENTS

▪ Coal price has been keeping strengthening through 3Q21, mainly as a result of

strong demand together with tight supply. Particularly from late Aug. to Sep.,

coal price jumped to the level which we never experienced before.

▪ JPU Oct. 2021 – Sep. 2022 term contract negotiation finally broke due to the

huge gap on the point of view to the trend of future market.

▪ China has been continuing to play the overwhelming role in the global thermal

coal market. The new phenomenon occurred in Q3 was, the Chinese buyers

were not only taking the biggest quantity, but also being able to pay the

highest price in the world, we were seeing big quantity of high-quality Indo

thermal coal were sold to China, removed from those traditional premium

markets(e.g. Japan, Taiwan, Korea). This is one of the most important factors

which pushed up all the major Indexes to the historical record. As a nature

result, the global thermal coal market was in obvious overheated situation

since later Aug. until mid Oct..

▪ Newcastle future price has been keeping its significant backwardation through

Q3 2021, while still at very healthy price levels for the coal mining industry.

▪ Key price metrics:

▪ ITM ASP 3Q21 : US$111.0/t* (+38% QoQ)

▪ NEX (October 29th, 2021)**: US$214.7/t

ITM ASPs vs thermal coal benchmark prices

20

60

100

140

180

220

260

Jan

-16

Apr-

16

Jul-

16

Oct-

16

Jan

-17

Apr-

17

Jul-

17

Oct-

17

Jan

-18

Apr-

18

Jul-

18

Oct-

18

Jan

-19

Apr-

19

Jul-

19

Oct-

19

Jan

-20

Apr-

20

Jul-

20

Oct-

20

Jan

-21

Apr-

21

Jul-

21

Oct-

21

Unit: US$/t

Monthly

NEX

Quarterly

ITM ASP

US$111.0/t

US$232.5/t0

50

100

150

200

250

2007

2009

2011

2013

2015

2017

2019

2021

Monthly NEX

ITM coal sales 9M21

18

MALAYSIA

0.5 Mt

PHILIPPINES

THAILAND

CHINA

0.5 Mt

INDONESIA

3.2 Mt

S KOREA

0.4 Mt

4.1 Mt

0.2 Mt

INDIA

1.0 Mt

TAIWAN 1.4 Mt

0.2 Mt

VIETNAM

0.9 Mt

BANGLADESH

OTHERS

0.3 Mt2.7

JAPAN

2.1 MtChina 28%

Indonesia 21%Japan

14%

Phillippines10%

Thailand 7%

Bangladesh6%

Malaysia 4%

India 3%

Taiwan 3%

Vietnam 1% Korea 1% Others 2%

Total coal sales 9M21: 14.8 Mt

COAL SALES BREAKDOWN BY DESTINATION COAL SALES 9M21

Indicative coal sales 2021

19

COAL SALES CONTRACT AND PRICING STATUS

100%

Contract Status

Contracted

84%

16%

Price Status

Fixed

Indexed

Target sales 2021: 20.2-20.4 Mt

Financial

Summary

04

Power generation installation activity in Indominco site

Highlights of 3Q21 and 9M21 results

21

Unit: US$ million

9M21

14.8

89.0

1,323

40%

449

514

271

2Q21

4.9

80.3

392

36%

117

138

76

3Q21

5.8

111.0

647

47%

269

291

154

Coal sales (Mt)

ASP (US$/t)

Total Revenue

Gross Profit Margin

EBIT

EBITDA

Net Income

9M20

15.4

53.8

872

16%

62

126

39

35

142

304

140

53116%

36%47%

16%

40%

3Q20 2Q21 3Q21 9M20 9M21

Gross Profit GPM

219

392

647

872

1,323

3Q20 2Q21 3Q21 9M20 9M21

Unit: US$ million

Unit: US$ million

FY20: US$ 187 mio

FY19: US$ 242 mioUnit: US$ million

Unit: Gross profit is US$ million, GPM is % of revenue FY20: 17%

FY19: 19%

FY20: US$ 1,715 mio

FY19: US$ 1,185 mio

FY20: US$ 38 mio

FY19: US$ 127 mio

GROSS PROFIT AND GROSS PROFIT MARGIN

NET PROFIT

REVENUE

EBITDA

Profitability – Income statement

22

35

138

291

126

514

3Q20 2Q21 3Q21 9M20 9M21

1076

154

39

271

3Q20 2Q21 3Q21 9M20 9M21

10.0 10.5 10.6 10.5 10.9

3Q20 2Q21 3Q21 9M20 9M21

Unit: US$/Ltr

Unit: Bcm/t

Avg. FY20: $0.41ltr

Avg. FY19: $0.61ltrUnit: US$/t

Unit: US$/t Avg. FY20: $41.9/t

Avg. FY19: $46.8/t

Avg. FY20: 10.1

Avg. FY19: 10.9

Avg. FY20: $51.4/t

Avg. FY19: $60.9/t

*Cost of Goods Sold + Royalty + SG&A

PRODUCTION COST

TOTAL COST*

WEIGHTED AVERAGE STRIP RATIO

FUEL PRICE

Coal

Non-Coal

Coal

Non-Coal

Cost analysis

23

0.380.51 0.55

0.410.50

3Q20 2Q21 3Q21 9M20 9M21

36.2 40.0 41.4 40.2 41.3

37.8 40.0 41.4 42.8 41.5

3Q20 2Q21 3Q21 9M20 9M21

46.453.8

60.450.4 55.6

48.153.8

60.453.0 55.8

3Q20 2Q21 3Q21 9M20 9M21

Other Assets1,000

Cash510

Equity1,038

Other Liabilities

432

Borrowing 40

Asset Liabilities & Equity

Balance sheet

24

9M21 BALANCE SHEET

Unit: US$ million

BANK LOAN DETAILS

Unit: US$ million

KEY RATIOS

9

31

Current maturities of

Long-term bank loan

Long-term

bank loan

0.01

0.05

0.04

FY19 FY20 9M21

Debt to Equity (x)

Net Gearing (%)

(17%)(21%)

(44%)

FY19 FY20 9M21

Note: Net gearing formula is net debt to total debt and equity

1.4

9M21 capital expenditure realization

25Note: Total capex plan including Jakarta office after elimination

Units: US$ million

Realized up to Sep 2021

2021 CAPEX plan

2.4

3.6

4.7

40.5

19.5

1.7

6.3

11.5

3.3

Indominco

18.3

6.8

Trubaindo

Bharinto

TRUST

Other

ITM Consolidated

Q&A

Session

05

Hauling road area at PT Bharinto Ekatama

Unit: US$ thousand 9M21 9M20 YoY%

Net Sales 1,323,345 871,884 52%

Gross Profit 531,047 139,833 280%

GPM 40% 16%

SG&A (81,801) (77,548)

EBIT 449,246 62,285 621%

EBIT Margin 34% 7%

EBITDA 514,490 125,680 309%

EBITDA Margin 39% 14%

Net Interest Income / (Expenses) 191 (370) n.m

FX Gain / (Loss) (2,026) (6,849) n.m

Derivative Gain / (Loss) (91,081) 424 n.m

Others (4,302) 18,734 n.m

Profit Before Tax 352,028 74,224 374%

Income Tax (80,544) (35,593)

Net Income 271,484 38,631 603%

Net Income Margin 21% 4%

Income statement – 9M21 vs 9M20

Income statement – 3Q21 vs 2Q21

Unit: US$ thousand 3Q21 2Q21 QoQ%

Net Sales 647,042 392,063 65%

Gross Profit 303,703 142,454 113%

GPM 47% 36%

SG&A (34,951) (25,755)

EBIT 268,752 116,699 130%

EBIT Margin 42% 30%

EBITDA 290,728 138,044 111%

EBITDA Margin 45% 35%

Net Interest Income / (Expenses) (64) 313 n.m

FX Gain / (Loss) 1,118 879 27%

Derivative Gain / (Loss) (71,649) (18,780) 282%

Others (325) (1,549) n.m

Profit Before Tax 197,832 97,562 103%

Income Tax (43,950) (22,012)

Net Income 153,882 75,550 104%

Net Income Margin 24% 19%

30

95.07%

5 Mt

ITMG

65%

PT Indominco

Mandiri

(CCOW Gen I)

PT Trubaindo Coal

Mining

(CCOW Gen II)

PT Kitadin-

Embalut

(IUP)

PT Jorong Barutama

Greston

(CCOW Gen II)

PT Indo Tambangraya Megah Tbk.

99.99% 99.99% 99.99% 99.99%

Banpu

Public35%*

East Kalimantan East Kalimantan South Kalimantan

INDONESIAN STOCK EXCHANGE

IPO 18th Dec 2007

6,100-6,500 kcal/kg5,600-6,200 kcal/kg 5,400-5,600 kcal/kg 4,300-4,400 kcal/kg

2.5 Mt 0.9 Mt 0.7 Mt

PT Bharinto

Ekatama

(CCOW Gen III)

99.00%

East and

Central Kalimantan

6,100-6,500 kcal/kg

3.7 Mt

East Kalimantan

296 Mt

38 Mt

Resources

Reserves

403 Mt

39 Mt

99 Mt

2 Mt

432 Mt

146 Mt

65 Mt

99.99%

PT Tambang Raya

Usaha Tama

Mining Contractor

99.99%

Jakarta Office

PT ITM Indonesia

InvestmentJakarta Office

Exp: Mar 2028 Exp: Feb 2035Exp: May 2035Exp: Jun 2041 Exp: Feb 2022

PT ITM Energi Utama

Power InvestmentJakarta Office

PT ITM Batubara Utama

Investment

99.99%

99.99%

Jakarta Office 9 Mt

TRUSTIndominco Trubaindo KitadinBharinto Jorong

IEU

IBU

* : ITM own 2.95% from share buyback program

PT ITM Banpu Power

Power InvestmentJakarta Office

70.00%

IBP

5.7 Mt

ITMI

GEM

PT GasEmas

Fuel TradingJakarta Office

3.90%

Sales 9M21

PT Tepian Indah

Sukses

(IUP)

East Kalimantan

6,400 kcal/kg

Exp: Apr 2029

NPR

70.00%

Central Kalimantan

5,500 kcal/kg

GPK

PT Nusa Persada

Resources

(IUP)

Exp: May 2033

PT Energi Batubara Perkasa

Coal TradingJakarta Office

EBP

99.90%

143 Mt

77 Mt

(Not Yet Operating)(Not Yet Operating)

ITM structure

94.80%

99.90%

TIS

East Kalimantan

3,900 kcal/kg

PT Graha Panca

Karsa

(IUP)

Exp: Sep 2029

117 Mt

(Not Yet Operating)

Note: Updated Coal Resources and Reserves as of 31 Dec 2018 based on estimates prepared by competent persons (considered suitably experienced under the JORC Code) and

deducted from coal sales volume in FY19, FY20, and 9M21. For GPK and TIS, Coal Resources and Reserves number has not been verified by Independent 3rd party.

SME

99.99%