2Q13 results 2Q13 results

investor and analyst update

14th August 2013

DISCLAIMER

The views expressed here contain information derived from publicly available sources that have not been independently verified. No representation or warranty ismade as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of anumber of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by Banpu Public CompanyLimited. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

2

Financial summary

Power business

Coal marketing

Coal operations

Mid-year strategic review

5

4

3

2

1

3

Banpu’s regional coal-based energy strategy

1980s 1990s 2000s 2010s

Thailand

1 Mtpa

Thailand

4 Mtpa

Thailand

20 Mtpa

Indonesia

50-60 Mtpa ?

ILLUSTRATIVE ONLY*

Coal supplyMining and preparation, logistics, infrastructure, marketing, trading

Coal conversionChemicals, oil, gas…

Thailand ThailandIndonesia

ThailandIndonesiaChina

IndonesiaChina - Mongolia

Australia

0.3 GW1.5 GW

2 GW + ?

Thailand ThailandVietnam

Thailand - Laos [?]

[?]

Coal-fired powerIntegrated mine-mouth lignite fired power, imported coal-fired power

* Coal supply figures are indicative of max output (100% basis for ITM; the rest are equity basis) during period; power capacities are indicative of maximum equity power capacity during period

Include

200

150

300

COMMENTS

Thermal coal is still highly competitive for power

● Coal remains the most competitive fuel in Asia

● Unlikely to see significantly cheaper gas in short term

● US shale gas is not competitive on delivered basis in Asia as LNG

● Shale gas development in

LEVELIZED COST OF ELECTRICITY (LCOE) IN ASIA BY ENERGY TYPE

US$/MWh

Asia

$110/tFOB

Asia (Include carbon cost)

OffshoreSolar thermal

Solar PV

Include Carbon cost

50

100

0

SolarWindNuclearCoal

5

● Shale gas development in Asia is still at early stage

● Renewables (especially onshore wind) getting more competitive but cannot compete as baseload energy source

● Emissions regulation and technology (for all fuels including coal) could change the dynamics but coal still likely to be competitive

Source : IEA report (April 2013) , AWR Lloyd analysis

* Assume FOB coal price between U$70-110/t ** LNG price in Asian market (U$14-16/mmbtu) is more expensive than that of USA (U$4-8/mmbtu)

$110/t

$70/t

Asia ($14-16 /mmbtu)

Cheap gas(US case $4-8 /mmbtu)

Exclude carbon cost

$70/t

GAS/LNG

Onshore

COMMENTS

Coal remains backbone of global power generation

● Even with conservative assumptions(1), IEA and others forecast coal to remain single biggest source of power generation globally over next 20 years

● Growing demand in short to medium term mainly from Asia

COAL AS % OF GLOBAL POWER DEMAND (CONSERVATIVE ESTIMATE)

423

557

657659

1,174

6,943

9,710

228

1,539 Nuclear

Hydro

Oil

8,482

1,288

Other renewables

286

Unit: Million tonnes coal equivalent (Mtce)*

6

Asia

● Coal demand in the longer term will likely be impacted by environmental regulation and new technology (e.g. coal-related technologies as well as renewables)

● IEA forecasts over half of all gas supply growth to come from unconventional gas, however significant uncertainties remain about the technical, economic and environmental feasibility of this supply

Note: IEA forecasts assume over half global gas supply growth from unconventional sources. (1) IEA’s central case assumption assumes on-going of existing energy related policies while recently announced policies are implemented in a cautious manner. Source: IEA’s World Energy Outlook 2012

1,581

1,8382,191

3,227

1,032

395

2030

Coal3,921

228

2020

Oil311

2010

3,829

Gas

(46%)(45%) (40%)

+2%CAGR

0%CAGR

* Converted from Mtoe to Mtce at 0.7 Mtoe/Mtce

2010 20302020

Coal demand growth(1) by region to 2030(IEA)

1,686

20302010

1,2681,778

2020

2010 2030

608671710

2020

OECD America

India

ChinaEU & Eurasia

Japan

Non-OECD Asia

20302020

357451

2010

501

-1%CAGR

-1%CAGR

-1%CAGR

-2%CAGR

+3%CAGR +1%

CAGR

-2%CAGR

-1%CAGR

89 76 70

Unit: Million tonnes coal equivalent (Mtce)*

429

2030

535

20202010

288

2020 20302010

118 297

20302020

220

2010

Source: IEA’s World Energy Outlook 2012

20202010 2030

20302010 2020

Latin America

Africa & M.East

India Non-OECD Asia

203020202010

Others

OECD Asia Oceania

139 146 143

90 112 119

9 19 16

14 23 27

Coal

7

+6%CAGR

+3%CAGR

+1%CAGR

+1%CAGR

+5%CAGR

+2%CAGR

+4%CAGR

+2%CAGR

+2%CAGR

+1%CAGR

+8%CAGR

-2%CAGR

Other types of fuel

* Converted from Mtoe to Mtce at 0.7 Mtoe/Mtce (c.7,000 kcal/kg)

(1) The figures shown in this slide represent coal demand from power sector only and are lower than actual tonnage

Long term coal price fundamentals ?

HISTORICAL MARGINAL COST CURVE AND NET PRICE RELATIONSHIP AND DEMAND OUTLOOK

120

140

160

180

200

90th percentile cost

US$/t200 2020

DEMAND2030

DEMAND

180

160

140

120

US$/t

?

2013DEMAND

8

0

20

40

60

80

100

90th percentile cost (seaborne FOB)

Spot coal price (Newcastle)

Cumulative supply (Mt)

0 200 400 600 800 1,000 1,200 1,900

120

100

80

60

40

20

0

?

Source: AWR Lloyd analysis, equity research reports, Wood Mackenzie (June 2013)

Banpu: overview of current strategic initiatives

Hebi (40%)

Gaohe (45%)

BLCP (50%)

Luannan (100%)

Zhengding (100%)

Zouping (70%)

Hongsa (40%)(COD 2015)

THAILAND

CHINA

Hunnu (100%)

MONGOLIA

LAOS

• Keeping overheads low

CORPORATE

• Target to complete 75% construction for Hongsa project in 2013

• Studying new power investment opportunities

POWER

• Gaohe: 5Mt production target

• Hebi: maintain 1.2Mt output

• Hunnu:

� Screening and product testing stage

� Studying potential of coal chemicals market

CHINA/MONGOLIA COAL

9

Kitadin (65%)

Indominco (65%)

BLCP (50%)

Bharinto (64%)

Trubaindo (65%)

Jorong (65%)

AUSTRALIA

Centennial (100%)*

Coal mine Coal mine project Coal-fired power Coal-fired power projectHeadquarters

INDONESIA

Kitadin-TM (65%)

• Keeping overheads low

• Pushing debt down to intermediary and subsidiary levels

• HR development and training programmes

• Strengthening senior management team

• Targeting 10% reduction in overall production costs

• Lowering S/R at Indominco and Trubaindo

• Lowering administrative costs

• Better utilisation of infrastructure

INDONESIA COAL

• Reducing production costs further by 5-7% YoY

• Installed CM units and longwallequipment at Mandalong and Springvale

• Optimising infrastructure and logistics efficiencies

• Increasing export and export-parity sales contracts

AUSTRALIA COAL

2013 TARGETS MID-YEAR REVIEW FOCUS FOR 2H13

INDONESIA

Cost reduction• Plan to lower costs further through improved productivity (i.e. IPCC, coal recovery improvement at Bharinto, testing substitute products for explosive and hauling fuel)

• IPCC expected to start around 4Q13

• 10% YoY reduction in overall production costs

• Reduced by 11% HoH• Lower S/R at Indominco and Trubaindo by 7% HoH and 19% H0H respectively

• Installation of IPCC equipment at mine site

Operational improvement • On track to meet the full year target• Road hauling improvement• Reduce fuel consumption on tug boats and renegotiate barging

• Secure tonnage and price LT of off-spec through blending

• Optimize infrastructure and

• Achieved 14.4 Mt (50% of 2013 output targets) in 1H13

• Establishment of ITMI

Progress review – coal business

boats and renegotiate barging contract

• Optimize infrastructure and logistic efficiency

• Establishment of ITMI

AUSTRALIA

Cost reduction • Plan to lower costs further through improved productivity• 5-7% YoY cut in production costs • Cut production costs by 2% HoH

Operational improvement• Installation of new generation longwall at Springvale (estimate 30% production increase)

• 3rd bolter-miner at Mandalong

• Installation of CM units and LW equipment at Mandalong and Springvale

• Mandalong: Installed CM units –shorter LW move period

• Springvale: improved conditions and producing to budget

CHIN

AMONGOLIA Project development

• Hunnu: continue studying coal to chemical opportunity

• Hunnu: more sample testing will be performed

• Gaohe: on track to meet 2013target

• Hunnu: screening and product testing stage as well as studying potential of coal chemicals market

• Gaohe: 5Mt production

• Hunnu: trial shipments of TsantUul coal

• Gaohe: 54% (2.7 Mt) of 2013 target• Hebi: 50% of 2013 output targets

10

2013 TARGETS MID-YEAR REVIEW FOCUS FOR 2H13

CORPO-

RATE

Cost reduction

• Keep overheads low

• Push debt down to intermediary and subsidiary levels

• $50M annualised admin costs (ex. personnel and depreciation) indicates 30% reduction YoY

• Building up creditability of subsidiaries with banks

FIN

ANCIA

L M

ANGEMENT

Share management • BOD agreed to reduce registered paid-up capital

• 10 to 1 share spilt• Share repurchase programme (5% of total paid-up capital)

• Completed the programme on 16 July 2013 (at avg cost of Bt292/sh)

Debt service

Progress review – corporate and powerFIN

ANCIA

L M

ANGEMENT

• Minimizing risks from higher financing cost

• Bond issuance to better align currency mismatch

• Longer debt redemption profile• Fixed interest rates

• Enter Cross Currency Swap (CCS)• Speeding up funding secured with banks

Derivatives

• Managing risks from mark-to-market causing fluctuation of commodity prices as well as currency and interest rate markets

• Actively monitored and managed derivative activities

• Apply hedge accounting for CCS and Interest Rate Swaps (IRS)

• Communication with subsidiaries on FX management on regular basis

POW

ER

Hongsa progress

• Target 75% completion of overall progress by the end of 2013

• Overall progress approx. 62% (ahead of plan)

• Successfully transported heavyequipment to site in 1Q13

• On track to meet the full year target • Major activities are boiler structure and cooling water construction

11

COMMENTS

Unique synergy potential

● Potential for coal blending synergies amongst Banpu’svarious coal products for the export market

● ITMI established for trading with ability to purchase third-party coal

BANPU SYNERGIES AND COMPETITIVE ADVANTAGES

COAL-POWER

MARKETING SYNERGIES

CHINA COAL-POWER MARKET KNOWLEDGE

SEABOURNE

NORTH ASIAN IMPORT MARKET

ILLUSTRATIVE ONLY

12

● Marketing synergies between ITM and Centennial coal for the export market.

● Knowledge and technical expertise sharing (e.g. underground mining techniques, China power market)

● Vertical-integration coal-power synergies (e.g. Hongsa)

Coal mine Coal mine project Coal-fired power Coal-fired power project

COAL-POWER VERTICAL

INTEGRATION

SEABOURNE COAL-POWER

MARKET KNOWLEDGE

DIVERSITY OF COAL SPECS

HIGH CV COAL

DEBT SERVICE OUTLOOK

Financial strength focus

EBITDA BREAKDOWN

800

1,200U$ M

2012 EBITDA*

2011EBITDA*

150

200

250U$ M

13 * does not reflect the new TFRS accounting standard

0

400

2017E2016E2014E2013E 2015E

THB repayment

RMB repayment USD repayment

AUD repayment

Interest expense

0

50

100

1Q13 2Q134Q12*3Q12*

Export

Australia and Indonesia

Domestic coal

Australia and China

Power

BLCP and China power

PowerDomesticExport

COMMENTS

Share buyback focus: completion

● 5% share buyback scheme (13.56 M shares) completed 16th July

● Leaves 258 M shares in issue

● Total buyback cost : Bt 3.96 billion (c. $125 M)

● Plan for buyback shares to

SHARE BUYBACK PERSPECTIVE

Bt 700

Bt 600

Share buyback commenced 15thMarch 2013

Share buyback completed 16th

July 2013 and notified SET on capital reduction on 18th July 2013

● Plan for buyback shares to be canceled

● Banpu share buyback should be strongly value-creating: management believes current share price fails to attribute fair value to power business and reflects bearish long term coal price outlook

● 10:1 share split announced; EGM is scheduled 9 September 2013

Bt 200

Jul 13

Bt 400

Jan 13Oct 12 Oct 13Apr 13

Bt 300

Bt 500

Jan 12 Jul 12Apr 12

Bt 384

Bt 239

*Leaves 258 M shares in issue14

5% (13.6 M shares*) purchased @ average price Bt 292/share

Financial summary

Power business

Coal marketing

Coal operations

Mid-year strategic review

5

4

3

2

1

15

Australia Coal: operational and financial summary

Charbon

Airly

Neubeck Angus Place

Mandalong Mannering

Myuna

Newstan Extension

PWCS

Newcastle

InglenookNCIG

2013 OUTPUT TARGETS (ROM EQUITY BASIS) KEY UPDATES

Production

● Equity ROM of 4.2Mt (up 43% YoY), with all longwalls in production

● Every mine, except Springvale, increased production over the previous quarter, with Myuna only marginally below

● FY13 forecast of 14.3 Mt (2012: 14.6 Mt ) – after placement of Airly and Mannering on care &

ASP

● Sales were up 34% QoQ, led by an ~18% increase in own coal export sales and a rebound in domestic sales

● 2Q13: A$70/t benefiting from an increase in own coal export sales

● 2013 forecast: remains at ~A$68/t, with the own coal export / legacy domestic

2Q13 YoY QoQ

Sales revenue A$271m ▲ 1% ▲ 34%

EBITDA (pre FX) A$62m ▲39% ▲448%

NPAT (pre FX) A$27m ▲426% ▲239%

Significant Item3

(unrealised FX)A$(52)m

n.a. n.a.

NPAT A$(26)m n.a. ▼34%

Gearing(Net debt to net debt + book value of equity)

35%

CAPEX A$66 ▼23% ▼11%

16

Wollongong

PKCT

Place

Clarence

Springvale

Mannering

Sydney

Open-cut mine

Project

Underground mine

Port

Power station

RoadRail

WESTERN OPERATIONS: 7.1 Mt

NORTHERN OPERATIONS: 7.2 Mt

Airly and Mannering on care & maintenance

FINANCIAL SUMMARY

export / legacy domestic sales mix broadly in balance for the year

Note 1: Airly and Mannering mines placed on “Care & Maintenance” November 2012.

Note 2: NCIG = Newcastle Coal Infrastructure Group; PWCS = Port Waratah Coal Services; PKCT = Port Kembla Coal Terminal.

Note 3: Impact of A$ devaluation in 2Q13 on US$ denominated debt.

COMMENTS

New domestic contract: Origin Energy

● In early July, Banpu and Origin announced agreement for Centennial to supply up to 24.5 Mt of coal, over 8-year period from 1 July 2014, to Eraring Power Station.

● 6 Mt is conditional on the development of Newstan mine extension project.

ORIGIN CONTRACT PROFILE

90%

60%

100%

70%

80%

17

● New Origin contract supplements Centennial's existing legacy contracts.

● Eraring Power Station is a peak demand generator and one of most efficient (and lowest carbon intensity) coal-fired power stations in New South Wales.

● Centennial plans to supply new contract from Northern operations, several of which are located in close proximity to Eraring

Note: Commencement of the coal supply agreement with Centennial Coal was conditional on the successful completion of the acquisitionof Eraring Energy, which has now been confirmed, by Origin Energy.

10%

0%

20%

50%

40%

30%

Dec 13

Dec 15

Dec 22

Dec 14

Dec 17

Dec 20

Dec 16

Dec 21

Dec 19

Dec 18

New contract Legacy contract

NEWSTAN EXTENSIONMANDALONG OTHER OPERATIONS

Australia Coal: Northern Operations quarterly output

0.5

2.0

1.10.8

1.9

0.6

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

0.6 0.7 0.6 0.5 0.6 0.8

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

Completion date extended

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

18

LW MOVE SCHEDULE

6 wks

Mth 1

Mth 2

Mth 3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e 4Q13e

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

4 wks

6 wks

● Mandalong

� Longwall 14 continues to outperform

� New development units enjoyed record performance

● Myuna – continues to perform consistently, up 33% 1H13 on 1H12

● Ongoing development of Newstan continues, with improved production levels in the two Main West panels, as both panels move away from a major reverse fault area, and largely responsible for a 147% increase QoQ

LW MOVE SCHEDULE

Mth 1

Mth 2

Mth 3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

Note: *Output figures are ROM output (equity basis)**CV figures are air-dried basis

6 wks

COMMENT

Australia Coal: quarterly equity ROM output

1.5 1.7 2.0 1.9 1.8 1.6 1.7 1.8

1.3

2.51.4 2.0 2.1

1.82.4

1.7

2.8

4.2

3.43.9 3.9

3.4

4.1

3.5

1.01.52.02.53.03.54.04.55.0

Total equity ROM (Mt)

ACTUAL PLANNED (INDICATIVE ONLY)

WESTERN

NORTHERN

19Note: Bar width is indicative of the equity production contributions to CentennialNote 2: Production generally responds to the timing of longwall changeovers (i.e. lower production results during a longwall changeover period)

Normal production Bolt-up/commissioning

1.5 1.7 2.0 1.9 1.8 1.6 1.7 1.8

0.00.51.0

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

WESTERN

6 wks

6wks

LW relocation

3

2013 2014

5 wks

6 wks

DEVELOPMENT FLOAT RECOVERED

Australia Coal: Mandalong – development recovered

● Two new generation Sandvik MB650 continuous miners acquired, with immediate improvement in development rates achieved

� ~30% improvement in development rate, operating with a monorail

� ~20% improvement in development rate, operating without a monorail

NEW DEVELOPMENT MINERS

Sandvik

MB650

20

● Board has approved a third Sandvik MB650 continuous miner, which is due to be delivered and commissioned in 4Q13

● Management investigating further improvement:

� Second monorail to compliment second MB650

● Positive development float and longwall continuity in 3Q13 secured

Company visit photo

0.9 1.0 0.9 0.71.0 0.9

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

OTHER OPERATIONSANGUS PLACE SPRINGVALE

Australia Coal: Western Operations quarterly output

0.3 0.5 0.4 0.3 0.20.60.6 0.6

0.20.5 0.5 0.5

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

COAL OUTPUT (Mt)*

CV: 6,700 kcal/kg**

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

COMMENT

21

● Angus Place, Charbon and Clarence continued to perform to expectations

● Angus Place

� Production up 6% QoQ, with the mine achieving a monthly record in May

� Development performance remains strong, confirming the transition into Angus Place East is on track.

● Springvale

� Continued to experience challenging mining conditions during 2Q13, however, with improved conditions -July met budget at 0.4 mt

� Installation of new generation longwall for next block completed and commissioning underway

LW MOVE SCHEDULE

Mth 1

Mth 2

Mth 3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e 4Q13e

LW MOVE SCHEDULE

Mth 1

Mth 2

Mth 3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e 4Q13e

6 wks

Note: *Output figures are ROM output (equity basis): Angus Place and Springvale are both owned 50% by Centennial

**CV figures are air-dried basis

LONGWALL 415 TO LONGWALL 416

Australia Coal: Springvale – commissioning new longwall

● Difficult mining conditions impacted Longwall 415

� A combination of changed mining conditions and ageing equipment contributed to making roof and floor control more difficult than anticipated

� Now in improved conditions and producing to budget

● Springvale Longwall 416: changes for next block

� New generation longwall comparable to that recently

NEW GENERATION LONGWALL

22

� New generation longwall comparable to that recently installed at Angus Place

� Longwall designed for Springvale conditions

� A similar change at Angus Place achieved ~30% improvement

� Expecting similar improvement at Springvale

� Substantial increase in productivity factored into second half

� Mine design and layout re-engineered to address poor roof areas

� Longwall face width reduced for improved face control

● New longwall being commissioned during August

40

50

60

COMMENTS

Australia Coal: operating costs

• 2Q13 unit costs significantly improved, however, still impacted longer than anticipated by difficult mining conditions at Springvale.

• Target to reduce 2013’s mining costs by 5-7% y-o-y

• Continuing focus to improve FY13 average unit cost over course of

INDICATIVE AVERAGE MINING COSTS*

Open-cut contractor cost

Depreciation

$52

$59A$/t

$58

$51

$47

$55$53

Planned cost reduction 2012 achieved

Plan 5-7% yoyreduction

$51

0

10

20

30

40

23

average unit cost over course of year:

- cost reduction programme

- increasing productivity e.g:

� Introduction of a third new bolter-miner at Mandalong

� Installation of new generation longwall at Springvale

● As a result of placing Mannering on care and maintenance and Newstan yet to reach base tonnage – carbon tax compensation lost

General expenses

Coal handling & preparationOpen-cut contractor cost

Repairs & maintenance

Stores & supplies

Labour

* These figures do not include selling, distribution and royalty costs

Cash overhead

1Q 2Q 3Q 4Q2012

Full year2012

1Q Full year2013E2013

2Q

KEY UPDATES

Indonesia Coal: operational and financial summary

2013 OUTPUT (100% BASIS, SALEABLE COAL)

East Kalimantan

Bunyut Port

Indominco14.8 Mt

Trubanindo7.7 Mt

Bontang Coal Terminal

Captive coal-fired power project

KitadinTandungMayang2.4 Mt

● Indominco : 2Q13 production achieved lower than target due to bad weather affecting production performance

� IPCC trial stage: installation of crushing equipment already 60% completed. Waiting to start for erection of conveying and stacking system. Project expected to commence by 4Q13

● Trubaindo: 2Q13 production achieved higher than target due to adequate raw coal stock and better hauling performance

● Kitadin Td.Mayang : 2Q13 production was slightly lower

24

FINANCIAL SUMMARY

2Q13 YoY QoQ

Sales revenue $527m ▼ 16% ▼ 6%

EBITDA $86m ▼ 48% ▼13%

NPAT $52m ▼ 58% ▼ 28%

Gearing(Net debt to Net debt + book value of equity)

n.a.

CAPEX $29m

Balikpapan

Palangkaraya

Banjarmasin

Central Kalimantan

South Kalimantan

Kitadin -Embalut1.0 Mt

7.7 Mt

Bharinto1.9 Mt

Jorong1.2 Mt

Samarinda

Jorong Port

Operation

Project

Operation

Project

POWER

COAL

● Kitadin Td.Mayang : 2Q13 production was slightly lower than plan due to change of blending plan

JORONG

0.3 0.3 0.3 0.2 0.3 0.3

0.3 0.6 0.6

2.7

1.4 1.8

2.0

1.1 1.11.1

0.70.6

0.4

0.8 0.50.5

4.2 4.44.9

4.34.1 4.3

EMBALUT AND JORONGINDOMINCO - BONTANG TRUBAINDO - BHARINTO

Indonesia Coal: quarterly output

COAL OUTPUT (Mt)*

CV: 6050 - 6500 kcal/kg**

TDMY

WBLOCK

COAL OUTPUT (Mt)*

CV: 6250 - 7200 kcal/kg**

TRUBAINDO

BHARINTO

2.32.6

COAL OUTPUT (Mt)*

CV: 5750 kcal/kg**

CV: 5300 kcal/kg**

EMBALUT

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e2.42.6

25

0.3 0.3 0.3 0.3 0.3 0.3JORONG

15.1 15.1 15.1 15.1 15.1 15.1

2.0 2.0 2.1 2.0 2.0 2.02.1 2.02.5 2.4 2.5 2.7

Note: *Output figures are 100% basis**CV figures are air-dried basis

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

E BLOCK

STRIP RATIOS (bcm/t)

9.3

19.1

11.6

15.2

INDOMINCO

TDMY

13.2 13.9

19.1

9.3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

19.1

9.3

TRUBAINDO

STRIP RATIOS (bcm/t)

TRUBAINDO

10.9

13.5 13.412.2

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

10.9

BHARINTO

7.6 7.5

STRIP RATIOS (bcm/t)

8.6

10.9

8.6

11.6

JORONG

EMBALUT

8.6

11.8

8.6

11.4

8.6

6.0

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

8.6

11.5

9.2 9.0

7.8

10.9

7.5

EAST

WEST

7.4

COMMENTS

Indonesia Coal: operating costs

● Able to lower operating costs by 11% HoH

● Average strip ratio of 11.5x in 2Q13 down from 13.1x in 2Q12.

● ITM will continue to reduce average strip ratios in 2013 to

2Q13 AVERAGE OPERATING COSTS

50

60

70

80$74 $72

$69

$65

$/t

$67

Dep. & Amortisation

SG&A expenses

Royalty

$70

$63$65

26

average strip ratios in 2013 to cope with lower coal price trend

● Continue to focus on cost reductions including implementation of cost reduction program such as IPCC, renegotiate barging contract, fuel substitute, etc.

● IPCC will lower usage of diesel truck and shovel and use more electricity from owned power plant

0

10

20

30

40

Mining and contractor cost

* Coal transportations, repair and maintenance, salaries and allowance, etc.

Other production costs*

Dep. & Amortisation

1Q 2Q 3Q 4Q Full year 1Q Full year2012 2012 2013 2013E

2Q

GAOHE

● Gaohe has set a production target for 2013 of 5.0Mt

● Gaohe sold washed coal during 2Q’13. This helped with thedeclining coal sales price during a falling coal market during2Q’13.

● The construction team begin on the foundations for therailway spur bridge. Communication with the locals on landissues continued.

CHINA COAL 2013 PRODUCTION TARGETS*

BEIJING

Hebi

Gaohe (45%),Shanxi 5.0 Mt

China Coal: operational and financial summary

OPERATIONAL UPDATES

1.1 0.81.2

1.4 1.30.9

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

27

1

HEBI

● Making improvements to mine safety and planning with continued introduction of hazard mapping and geologic modeling.

● Stable production and sales for Hebi for 2013 of 1.2 Mt. No foreseeable interruption in production that would prevent production and sales targets.

Hebi(40%),Henan1.2 Mt

OperationProjectOperationProject

POWER

COAL

Gaohe

CV: 6500-8000 Kcal/kg**

Hebi

CV: 5300-6800 Kcal/kg**

2Q12 – 2Q13 COAL OUTPUT (Mt ROM)

Summary 3Q12 4Q12 1Q13 2Q13

Sales (Mt) 0.8 1.2 1.2 1.2

ASP (RMB/t) 516 631 681 551

Revenue (US$ M) 67 119 130 109

COGS (RMB/t) 450 382 425 355

EBITDA (US$ M) 12 43 25 23

0.3 0.4 0.3 0.3 0.3 0.3

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13e

Note: *Output figures are ROM output (100% basis)

**CV figures are air-dried basis

TSANT UUL UPDATE

Mongolia Coal: project development

MONGOLIA COAL

● Mongolia Coal: project development ● Location: South Gobi (approximately 200 km from Gants Mod border checkpoint)

● Status: project is under screening and product testing stage (1st phrase)

� Screening is ongoing

� Product testing in China is expected to occur over next several months

28* CV figures are NAR basis, from latest samples

Tsant Uul

CV: 6,000 - 6,500 kcal/kg *

occur over next several months

� Bulk samples will also be sent to Germany for pilot testing

� Summary economics will be analysedbefore deciding on the second stage

� Second stage will be the installation of rotary breaker, screening, and sorting

● Studying potential of coal chemicals market

Financial summary

Power business

Coal marketing

Coal operations

Mid-year strategic review

5

4

3

2

1

29

SUPPLYOVERALL VIEW DEMAND

● We continue to have a sober view through mid 2014

● The share of poorer grade coals in total exports continues

● If US increase to 3.5 to 4.0% GDP growth by mid-2014, it

Banpu view on seaborne thermal coal market

30

view through mid 2014

● New demand continues to soak up supply excess

● Cutbacks gradually capped supply increase

coals in total exports continues to grow, with better coals remaining less in oversupply

● Any sharp change, would encourage an upward spike, as the ability of producers to add near term capacity reduces as market weakness continues.

GDP growth by mid-2014, it would have positive impact and bring positive flow on to other economies especially coastal manufacturing in China.

● Chinese stimulation, if of any substance by end-2013, would compound any upward lift

OTHER DEMAND DRIVERSCHINESE DEMAND ASIA PACIFIC DEMAND

● Despite high summer demand, oversupply to continue through 2013

● Political constraints add uncertainty, albeit no caps yet

● Limited new demand while past investment leads to excess supply

● World still growing; positive GDP

● Thermal coal demand still on course to be up almost 40 Mt YoY

● India has up-paced import with a likelihood to show 30 Mt YoYincrease

Seaborne thermal coal market drivers: 2Q update

31

investment leads to excess supply

OTHER SUPPLY DRIVERSWEATHER INDONESIA AND AUSTRALIA

● All effects negative for coal

● Good hydro. Good renewables

● No major supply disruptions

● USA ceases to be big factor

● Though mines cut back, new supply from past investments came online. Biggest cutbacks are in China

● Supply interruptions in regions like Colombia, South Africa, Russia are only short-term

● Indonesia still feeling a squeeze; many producers are not achieving sales plans

● Depreciation of Australian dollar insulates Australian coal output from weak spot coal prices. South Africa and Columbia similar

Banpu ASPs vs thermal coal benchmark prices

• ASP declined marginally in 2Q, reflecting the general market weakness

• Despite healthy demand, continuing pressure from the well-supplied market impacts ASP

• July JPU benchmark was agreed at

BANPU ASP VS BENCHMARK PRICES

Unit: $/t

COMMENTS

100

120

140

160

180

200

Monthly NEX

Quarterly ITM ASP

Quarterly Centennial ASP

32

•$89.95/t , down from April JPU benchmark of $95.00/t

• ITM concluded sales of 6.9 Mt in 2Q at ASP of $77.5/t, down 4% QoQ

• Centennial concluded sales of 3.8 Mt in 2Q at ASP of A$70/t, up 8% QoQ

• Centennial signed a new long-term domestic contract with Origin Energy adding stability to Banpu outlook

* The Newcastle Export Index (previously known as the Barlow Jonker Index – BJI)

ITM ASP 2Q13 $77.50 (-4% QoQ)

CEY ASP 2Q13 A$70.06 (+8% QoQ)

NEX* August 1, 2013 $77.15

0

20

40

60

80

100

Jan-07

Apr-07

Jul-07

Oct-07

Jan-08

Apr-08

Jul-08

Oct-08

Jan-09

Apr-09

Jul-09

Oct-09

Jan-10

Apr-10

Jul-10

Oct-10

Jan-11

Apr-11

Jul-11

Oct-11

Jan-12

Apr-12

Jul-12

Oct-12

Jan-13

Apr-13

Jul-13

900

1,000

> 5,800 kcal/kg

> 5,500 kcal/kg

> 5,000 kcal/kg

CHINA DOMESTIC COAL PRICES

China thermal coal market review

Unit: RMB/t

103

147

ANNUALIZED ACTUAL IMPORT 4Q11 - 4Q12 & 2Q13

CHINA THERMAL COAL IMPORTS/EXPORTS

Unit: Mt Unit: Mt

c.145-155?

143

116

151146

175

148140

Net

33

400

500

600

700

800

Sep-11

Nov-11

Jan-12

Mar-12

May-12

Jul-12

Sep-12

Nov-12

Jan-13

Mar-13

May-13

Jul-13

Source: www.sxcoal.com/cn 31 July 2013

93

103

147 5 4

2010 2011 2012 2013E

Import Export

Sources: China Coal Report Jan 2013, Banpu MS&L Estimates

Net import142 Mt

4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

Import Export

Net importc.141-

151 Mt ?

615

565

485

BANPU GROUP TOTAL GLOBAL COAL SALES* 2013 TARGETCOAL SALES* BREAKDOWN BY DESTINATION 2013e (Mt)

Banpu group coal sales 2013 target

S KOREA

2.8 MtCHINA

10.1 Mt

ITALY

0.9 Mt

2.8

1.8

4.9

7.4 0.7

0.1

2.1

22%

6%

5%

4%3%2%2%

1%1% China

Italy

Thailand

Philippines

Hong Kong

Indonesia

Others

Malaysia

USA

0.5 Mt

USA

34 * Excluding Mongolia coal

Australia Coal

China Coal

Indonesia Coal

JAPAN

6.7 Mt

PHILIPPINES

2.2 Mt

INDONESIA

2.9 Mt

THAILAND

1.8 Mt

INDIA

3.2 Mt

OTHERS

1.2 Mt

HK

0.3 Mt

2.8 Mt10.1 Mt

TAIWAN

3.5 Mt

AUSTRALIA

9.1 Mt

2.01.5

0.70.5

Total: 46.0 Mt*

(Sales from Indonesia are included on 100% basis, sales from Australia and China are included on equity basis )

20%

15%

8%

7%

6%

Australia

Japan

Taiwan

India

S Korea

MALAYSIA

0.8 Mt

31%

2% 3%

Indicative 2013 Banpu coal sales pricing status

AUSTRALIA COAL

Indexed

Domestic: Legacy

Unsold

Fixed Export

INDONESIA COAL

Unsold5%

Indexed11%

1new higher priced domestic contract commenced 1 July 2012, increasing sales certainty and improving domestic (and total sales) ASP

50%

14%

35

TARGET SALES 2013 (equity basis): c.14.2 MtAs at 1 Aug 2013

Domestic: Export parity1

Fixed

Fixed84%

TARGET SALES 2013: c. 29.0 MtAs at 1 Aug 2013

Financial summary

Power business

Coal marketing

Coal operations

Mid-year strategic review

5

4

3

2

1

36

75 63

75

2Q12 1Q13 2Q13

Thailand Power: BLCP in 2Q13USD million

Availability Payment (AP)

Q-Q: 6.1%Y-Y: -1.0%

Q-Q: 38.3%Y-Y: -3.6%

Total revenue

Q-Q: 72.0%

Y-Y: -1.0 %

Q-Q: -6.1%Y-Y: -4.8%

Q-Q: 18.9%Y-Y : 0.4%

FXgain

159 148

157

2Q12 1Q13 2Q13

3029

33

FXgain

2Q12 1Q13 2Q13

37

Energy Payment (EP)

Dispatch (%)

Y-Y: -3.6%

Q-Q: 24.2%Y-Y: -1.9%

EBIT

EBITDA Based on Banpu’s 50% interest

Equity income

2,143

FX loss

76 78 73

2Q12 1Q13 2Q13

57

40 55

2Q12 1Q13 2Q13

73 58

72

2Q12 1Q13 2Q13

98 96 96

2Q12 1Q13 2Q13

27

19

17

-2

26

● Overall progress approx. 62% and ahead of plan

● Major activities of power plant construction: cooling tower construction and boiler structure

● Key achievement in 2Q

� Lifted Generator Stator Unit 1 on 17 April 2013

� Installed Generator Transformer Unit 1 on May 6, 2013

PROJECT PROGRESS UPDATES 2Q13

Thailand Power: Hongsa project in Laos

HONGSA PROJECT

6, 2013

� Lifted Steam Drum Unit 2 on May 16, 2013

� Completed construction of Nam Louk and Nam Ken Dam on June 30, 2013

38 Note: *Banpu’s equity injection

PROJECT NAME

CONSTRUCTION PROGRESS

CAPEX ($m)

CAPEX TIMELINE

2012 2013 2014 2015 2016

HongsaPower 62% 340* 85 168 87

CAPEX TIMELINE

China Power: BIC* in 2Q13 (100% basis)

LuannanHebei Province

Power 100MW;

Steam 128tph

(Banpu 100% )

Zhengding

Sales**

(USD m)

EBITDA

(USD m)

Utilization

(hours)

Power tariff

(RMB/kwh)

Coal price***

(RMB/t)

0.44 5181,20510.1

16.2

3.4

BIC* 2Q12 1Q13 2Q13

4.1

1,914

5301,361

0.44 0.44

684

2,021

10.3

1.5

2Q13 sales slightly reduced compares with the same period of last year. Down trend coal price helpes double EBITDA compared with the same period of last year.

2Q13 sales slightly

39 Note: *BIC = Banpu Investment China (formerly BPIC), **Unaudited figures, *** Including transportation

ZhengdingHebei Province

Power 48MW;

Steam 180tph

(Banpu 100%)

ZoupingShandong Province

Power 100MW;

Steam 430tph

(Banpu 70%)

1,861

8.92.9

506

21.9

6.3

1,804

6460.437.3

14.8 6.0

2,021

653

0.41

1,874

0.45

844

1,726

5600.40

676

0.42

2,007

9.3

1.8

21.4

26.3

4.4

0.41

Higher utilization hours offsets some impact from lower steam tariff which linked with lower coal. 2Q13 sales slightly increased but EDITDA increased more than 40% compared with the same period of last year.

2Q13 sales slightly reduced compares with the same period of last year. Down trend coal price helps higher EBITDA compared with the same period of last year.

Financial summary

Power business

Coal marketing

Coal operations

Mid-year strategic review

5

4

3

2

1

40

Key external and corporate events

EX

TE

RN

AL

E

VE

NT

S

DIR

EC

TIN

DIR

EC

T

Concern over possibility of US Federal Reserve’s

tightening its loose monetary policy

Cyprus bail-out crisis

Military threatens from North Korea

China is

Fed continues its QE policy to boost

economyBOT cut interest

by 25bp. to 2.5%

China’s cash squeeze crisis

Xstrata & China may

World Bank announced limits lending for coal-fired power plants

Kevin Rudd sworn in as new Australian prime

minister

RBA cuts overnight cash rate target by 25bps to

2.75%

Mongolian president re-elected for 2nd term

41

EX

TE

RN

AL

E

VE

NT

SC

OR

PO

RA

TE

E

VE

NT

S

Aug’13

DIR

EC

T

4Q12 result announcement

5% share buy back program

Bt9/sh dividend payment

Luncheon with analysts and

fund managers

4Q12 Analyst meeting

4Q12 SET Opportunity Day

NDR in Europe and HK

BanpuAGM 2013

BJI lowered to $90/t range (from

$93-96/t in the past month)

SET index down 30 pts over the

fear

of Baht control

China is planning to ban

import of low grade coal

1Q13 Analyst

meeting

1Q13 Result announcement

End of share buy-back

program of 5%

(13.6million shares)

1Q13 SET Opportunity Day

Meeting with group of

retail investors

Xstrata & Japanese utilities

set FY 2013 contract at $95/t

1Q13

China may suspended

proposed ban on low grade coal

2Q13 Result announcement

Jul’132Q13 Sep’ 13

Share split announced

EGM to approve the share split

Banpu group revenue analysis: coal operations

5.8 6.0 7.6 6.5 6.1

6.6 6.68.2 7.1 6.9

2Q12 3Q12 4Q12 1Q13 2Q13

Indonesia Coal (ITM)

SALES (Mt)

AVERAGE SELLING PRICE (US$/t)

NEX*

Domestic

Export

97 90 86 93 86

100% basis

China Coal

SALES (Mt)

AVERAGE SELLING PRICE (US$/t) excl. VAT

0.6 0.5 0.7 0.7 0.7

2Q12 3Q12 4Q12 1Q13 2Q13

NEX*

9790 86

9386

Equity basisDomestic

Export

1.5 2.7 1.7 1.6 2.5

3.3 4.2 3.3 2.9 3.8

2Q12 3Q12 4Q12 1Q13 2Q13

Australia Coal (Centennial)

SALES (Mt)

AVERAGE SELLING PRICE (A$/t)**

NEX*

97 90 8693 86

Equity basisDomestic

Export

42

Note: ITM and Centennial revenues are consolidated in Banpu income statement.Australia Coal – Third party coal sales included.

REVENUE ($M)

622 572 653 563 527

2Q12 3Q12 4Q12 1Q13 2Q13

ASP

90 86 86

95 88 81 80 77

2Q12 3Q12 4Q12 1Q13 2Q13

100% basis

Note: ‘$’ in this presentation denotes US dollar only, otherwise stated

*NEX = Newcastle Export Index (formerly Barlow Jonker Index or BJI) It is relevant but not linked to China Coal’s ASP

**Australian GAAP

Note: Hebi and Gaohe revenues are not consolidated in Banpu income statement.

REVENUE ($M)

123 103 154 161 133

2Q12 3Q12 4Q12 1Q13 2Q13

ASP

94 87101 106

90

2Q12 3Q12 4Q12 1Q13 2Q13

9790 86

9386

100% basisREVENUE (A$M)

269 294 244 202 271

2Q12 3Q12 4Q12 1Q13 2Q13

ASP

8270 74 65 70

2Q12 3Q12 4Q12 1Q13 2Q13

90 86 86

Equity basis

263

201 260

41

58 41

Banpu consolidated sales revenues

USD million+2% Q –Q

Power-29% Q - Q

945

836

Coal Australia+29% Q - Q

852-10% Y –Y

-1% Y - Y

641578 552

2Q12 1Q13 2Q13

43

Coal Indonesia-4 % Q- Q

Power

Coal Australia

Coal Indonesia

Note: Revenue from other is included in Coal.

-1% Y - Y

-14 % Y - Y

AUSTRALIA COAL INDONESIA COAL

Banpu consolidated coal gross margin 2Q13 : 27%

263 260

Indonesia Coal gross margin: 34%

545

630

USD millionUSD million Australia Coal gross margin: 28%

571

44

Note: AUD exchange rate – USD 0.9902/A$ (as of 30 June 2013)

Coal sales Gross margin

2Q12 1Q13 2Q13

11%

28%

2Q12 1Q13 2Q13

36%

44%

201

28%34%

8

44

35

31

31

Banpu consolidated EBITDA and NPAT

Power

USD million

259

148

USD million

Power 0% Q-Q

EBITDA NET PROFIT

175

+18% Q –Q

-32% Y –Y

-11% Y-Y

-32% Q –Q

-69% Y –Y

172

108 8850 38

12

10 6

7 6

50

-22-49

31

19 22

24

1414

-15

2Q12* 1Q13 2Q13 2Q12* 1Q13 2Q13

45

Coal - Indonesia

Power

-76% Y-Y

Power

31

Coal Australia Coal China Coal Indonesia

Coal - Australia

Coal - China

Coal - Indonesia

-51% Y-Y

Coal - Australia

Coal - China

-28% Y-Y

n.m.

+499% Q-Q

* Reflects new TFRS accounting policies

-21% Q-Q

-11% Y-Y

-45% Q-Q

68

21

+9% Q-Q+26% Y-Y

-93% Q-Q-92% Y-Y

-68% Q-Q

FX and derivative

FX & derivative

+13% Y-Y

GEARING RATIOS

Banpu gearing and foreign exchange structure

DEBT FX STRUCTURE

AUD Fixed

THB Float2%

THB Fixed17%

0.74 0.790.99

Net debt / Equity1 (x)

Net market gearing2 (%)

46 Note: 1 Net debt to book value of shareholders' equity2 Net debt to enterprise value (enterprise value = net debt + market capitalization as at 30 June 2013)

USD Float51%

USD Fixed26%

Fixed4%

TOTAL DEBT: $3.34 BillionAs of 31 July 13

42%45% 50%

2.052.52 2.52

2011 2012 2Q13

Net debt / EBITDA(x)

Appendices

47

Banpu’s peer comparatives

76%

18%6%

74%

18% 31%

69%

14%

86%

100%

88%

4%8%

Banpu* Indonesia peer 1

Indonesia peer 2

Indonesia peer 3

Australia peer 1

Australia peer 2

Australia peer 3

EBITDA BY BUSINESS (2012 COMPARISON)

1%

99%

8%

Power OthersCoal - Domestic Coal - Export

48

EBITDA BY GEOGRAPHY (2012 COMPARISON)

4%

17%

50%

29%

100% 100% 100% 100% 100% 100%

Banpu* Indonesia peer 1

Indonesia peer 2

Indonesia peer 3

Australia peer 1

Australia peer 2

Australia peer 3

ThailandIndonesia ChinaAustralia

* Based on Adjusted EBITDA (EBITDA results multiplied by Banpu’s percentage ownership in each business (for example, taking only 65% of ITM’s EBITDA) Note: Numbers are based on AWR Lloyd estimates

Power OthersCoal - Domestic Coal - Export

EV/EBITDA VERSUS NPV APPROACH*

Perspective: the importance of LT assumptions

FREE CASH FLOWS AS A % OF 20 YEAR NPV*

6%

Year ahead =c.6% of NPV

5% pa

Growth scenario**

Years 5-20 Years 1-5ILLUSTRATIVE ONLY

69%

25%

5% pa

Growth scenario

10.8x

49

ILLUSTRATIVE ONLY Source : AWR Lloyd Source : AWR Lloyd

8%

9%

Year ahead =c.8% of NPV

Year ahead =c.9% of NPV

2.5% pa

0% pa

*Assumes 8% real discount rate

**Real terms

*Assumes 8% real discount rate, effective 25% tax, no incremental capex, 20 year cashflow

65%

59%

27%

32%

2.5% pa

10.07.55.0

0% pa

8.8x

7.4x

EV/EBITDAequivalent

INDONESIA COAL: SALEABLE COAL 100% BASIS AUSTRALIA COAL: SALEABLE EQUITY BASIS

Banpu group indicative five-year plan output targets

10

15

20

25

30

35

Bharinto

JorongEmbalut

Trubaindo

* **

Others - West

Springvale (50%)Angus Place (50%)Others - North

10

15

20

25

30

35

Mt Mt

50

MONGOLIA COAL: SALEABLE 100%BASISCHINA COAL: SALEABLE COAL EQUITY BASIS

Disclaimer: These output targets are indicative only and are subject to change.

0

5

2012 2013 2014 2015 2016

Indominco

* Tandung Mayang

Others - NorthNewstan Ext (100%)

Mandalong (100%)

0

5

10

2012 2013 2014 2015 2016

Gaohe (45%)Hebi (40%)

0

5

10

2012 2013 2014 2015 2016

0

5

2012 2013 2014 2015 2016

MtMt

Indonesia Coal gross margin 2Q13 : 34%

545

266

USD million

274

308

209

630

570

1Q13 2Q13

51

2Q12 1Q13 2Q13

34%

36%

44%

2Q12 1Q13 2Q13

Indonesia CoalIndominco

35%

38%

32%

2Q12 1Q13 2Q13

36%

45%

35%

163

Trubaindo

2Q12 1Q13 2Q13

53% 52%

Jorong

46% 19%2%

2Q12 1Q13 2Q13

52%22 48%

24% 38%

Kitadin

2Q12 1Q13 2Q13

TandungMayang

44

43% 33%

Bharinto

4467%

209

172

35 15 197

41

22

41 49

44% 39%

Banpu group EBITDA breakdown

12 43 46 43

-4

0

-3 -3

76 72 51 46

75 84 58 72

148 121 99 88

50%

Power & New energy

45%

Gaohe

BLCP

& holding companies

65%

Indominco

AACI OVERHEAD

Unit: $M

100%

8638 11

62-2 -2 -2 -2

Unit: AUD Mil

All figures are 100% basis except for Centennial

239 196 148 175

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13 3Q12 4Q12 1Q13 2Q13 3Q12 4Q12 1Q13 2Q13 3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 4Q13 2Q13

3Q12 4Q12 1Q13 2Q13

52

2 1 2

-1

37 28 19 16

0 3 9 10

37 23 18 19

Jorong

-2 -10 -4 -210 2 2 0

40%

40%

70%

Note: all ownership 100% unless otherwise shown.*BIC = Banpu Investment China (formerly BPIC)

Hebi

HONGSA

BIC*

Zouping

4 7 7 6

Zhengding

3 5 6 3

Luannan

2 4 4 3

Trubaindo

Kitadin

Consolidated NOT consolidated

9 14 17 14

for Centennial which is equity basis

Bharinto

3Q12 4Q12 4Q13 2Q133Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13

3Q12 4Q12 1Q13 2Q13 3Q12 4Q12 1Q13 2Q13 3Q12 4Q12 1Q13 2Q13

Banpu group net debt breakdown

& holding companies

2,205 2,381 2,484 2,672

3Q12 4Q12 1Q13 2Q13

AUSTRALIA COAL INDONESIA COAL CHINA COAL MONGOLIA COAL100% 65% 45% 40% 100%

Unit: $M

53 Note: all ownership 100% unless otherwise shown.*BIC = Banpu Investment China (formerly BPIC)

809 970 1201 1286

244 232 318 224

2Q133Q12 4Q12 1Q13

THAILAND POWER LAOS POWER CHINA POWER

Gaohe Hebi

HONGSABLCP BIC*Consolidated

NOT consolidated

50% 40% 100%

Net debt

Net cash

455 423 548 631

-631-461 -496 -400

-25 -47 -40 -24 -2 -4 -5 -5

377 307574 557 -5 -5 -4

1

Unit: AUD Mil

2Q133Q12 4Q12 1Q13 2Q133Q12 4Q12 1Q13 2Q133Q12 4Q12 1Q13 2Q133Q12 4Q12 1Q13

2Q133Q12 4Q12 1Q13 2Q133Q12 4Q12 1Q13 2Q133Q12 4Q12 1Q13

Banpu consolidated : operating profit

Units: USD million

Sales revenues – Power (BIC)

Cost of sales

Sales revenues – Coal

Total sales revenues*

YoY%

-10%

-10%

0%57

(589)

1Q13

836

771

41

(583)

2Q12

945

894

QoQ%

2%

4%

-29%41

(581)

2Q13

852

805

54

Gross profit*

GPM

Gross profit - Coal

Gross profit – Power (BIC)

GPM – Power (BIC)

GPM - Coal

-25%

-27%

86%

246

29%

225

16

29%

29%

362

38%

351

6

14%

39%

Note: * Including other business

10%

14%

-33%

271

32%

256

11

27%

32%

Units: USD million

Gross profit

GPM

SG&A

Royalty

Income from associates

-25%

YoY%

246

29%

(112)

(80)

1Q13

27

362

38%

(110)

(96)

2Q12

42

Banpu consolidated: operating profit

271

32%

(99)

(82)

2Q13

32

10%

QoQ%

Other income

EBIT

EBITDA

EBIT - Coal

EBIT - Power

Income from associates

EBITDA - Coal

EBITDA - Power

-41%

-33%

-47%

-6%

-36%

11%

Other expenses - Operations

24

98

148

69

29

27

117

31

(8)

10

208

259

175

33

42

224

35

-

55

8

123

175

92

31

32

144

31

(8)

25%

18%

33%

7%

23%

0%

Banpu consolidated : net profit

Units: USD million

EBIT

Interest expenses

Financial expenses

Minorities

Income tax (core business)

-41%

YoY%

98

1Q13

(27)

(2)

(26)

(28)

208

2Q12

(27)

(3)

(41)

(61)

123

2Q13

(29)

(3)

(19)

(23)

25%

QoQ%

56 Note: * Income from non-core assets and other non-operating expenses

Minorities

Non-recurring items*

Income tax (non - core business)

Net profit before FX

Net profit before extra items

FX translations

Net Profit

EPS (USD/share)

-13%

-69%

-35%

Deferred tax income (expenses)

(26)

30

(11)

56

14

(25)

31

0.11

23

(41)

(22)

(8)

41

(27)

68

0.25

77

(6)

(19)

(18)

(2)

35

50

(14)

21

0.08

6

-37%

-32%

247%

Units: USD million (TFRS)

Cost of sales

Gross profit

GPM

Royalty

SG&A

Sales revenue

Sales volume (mil. tonnes)

2Q12

(188.66)

74.83

28%

(18.43)

(48.56)

3.274

263.49

1Q13

(178.74)

21.82

11%

(11.62)

(45.57)

2.948

200.56

Centennial : Income Statement

YoY%

-4%

-25%

-4%

15%

-2%

2Q13

(186.97)

72.21

28%

(17.63)

(36.69)

3.767

259.17

QoQ%

231%

-19%

52%

28%

29%

Royalty

EBIT

Other income

Interest expenses

Financial expenses

Gain (loss) on exchange rate

Net profit

Gain (loss) on derivative

(18.43)

10.38

(6.00)

(1.20)

3.72

7.31

7.85

Other expenses

(11.62)

(33.85)

4.06

(6.58)

(1.44)

4.55

(28.39)

8.94

(2.56)

57

-4%

41%

42%

n.m.

n.m.

2.57

-

(17.63)

14.61

3.65

(6.77)

(1.36)

(51.36)

(36.07)

8.81

(6.94)

52%

n.m.

-10%

n.m.

171%

BANPU GROUP TOTAL GLOBAL COAL SALES 1H13COAL SALES BREAKDOWN BY DESTINATION 1H13 (Mt)

Banpu group coal sales 1H13

S KOREA

1.5 MtCHINA

5.2 Mt

ITALY

0.4 Mt

1.4

3.70.30.11.2

23%

6%

5%

5%3%2%

1%1%1%China

OthersItaly

Philippines

Hong Kong

India

Thailand

0.82.4

Malaysia

USA

0.3 Mt

USA

58 * Excluding Mongolia coal

Australia Coal

China Coal

Indonesia Coal

JAPAN

3.2 Mt

PHILIPPINES

1.0 Mt

INDONESIA

1.5 Mt

THAILAND

1.0 Mt

INDIA

1.4 Mt

OTHERS

0.5 Mt

HK

0.2 Mt

1.5 Mt5.2 Mt

TAIWAN

1.5 Mt

AUSTRALIA

4.1 Mt

1.7

Total: 22.3 Mt (Sales from Indonesia are included on 100% basis,

sales from Australia and China are included on equity basis )

18%

14%

7%

7%

7%

Japan

Australia

Korea

Indonesia

Taiwan

2.4

1.00.5

MALAYSIA

0.3 Mt

2012 – 2015 MAJOR DISCRETIONARY CAPEX PLAN*

Capex outlook

POWER

MONGOLIA

Unit: $ Mn

• Includes Hongsa equity injection up to 2016

• Tsant Uul development• Altai Nuurs exploration

1,248

200

378

MONGOLIA

AUSTRALIA

INDONESIA

• Altai Nuurs exploration

• Capex is limited to ‘essential’ or ‘committed’ for time being

• IPCC, BoCT expansion, Bunyut Expansion, etc

245

425

200

* Capex figures exclude maintenance capex59 DISCLAIMER: ALL CAPEX FIGURES ARE INDICATIVE ONLY AND ARE SUBJECT TO CHANGE

New domestic business at long-term export parity pricing, providing a natural hedge against A$/US$ exchange rate volatility

Secured 24 million tonne, 8-year contract with Origin Energy commencing July 2014.

Balance between domestic and export business provides product and revenue diversification

Targeting cost reductions of 5-7%.

Supplier cost reductions

Recruitment freeze and continue to review support roles

Reduction in contractors / employees by c.10%.

Bonus potential reviewed and tied to productivity improvements

REVENUE OPTIMISATION

Australia Coal: optimisation programme continues

COST MANAGEMENT

Optimisation project underway - coal flows from mine to customers (coal qualities matched to customer needs)

Focus on reducing distribution costs

Investment in Western infrastructure underway at Lidsdale Siding

Investment in own rail fleet

Access to ports at Port Kembla and NCIG provide cargo assembly flexibility

improvements

Two mines placed on care and maintenance.

Focus on maximising longwall output and improve development rates:

Two new next generation CM units at Mandalong, with a third planned for 4Q13

New generation longwall at Springvale in 3Q13

Focus on improving low-cost operation by increasing volumes through

4thmining unit at Clarence (1Q13)

Additional roof-bolter at Myuna (1Q13)

Capex limited to “essential” or “committed”60 On-going Completed

LONGWALL EXTRACTION OUTPERFORMANCE

Mandalong: extended longwall changever

TYPICAL PLAIN VIEW OF A SERIES OF LONGWALL PANELS

Direction of mining

Direction of mining

1

61

Completed LW ahead of

plan

Adjacent roadway development for the new longwallpanel occurs simultaneously with longwall extraction

Roadway development on plan, but lagged longwalloutperformance

1

2

2