PT Borneo Lumbung Energi & Metal Tbk (“BORN”)

March 2011

Company Profile

Disclaimer

This presentation is prepared by PT Borneo Lumbung Energi & Metal Tbk (the “Company”) solely for the purpose of analyst and investor presentations and unless otherwise expressly authorized by the Company, shall not be used by any third party. The recipient of this presentation shall only use the information contained herein solely in the context of obtaining information about the Company and/or updating such information and not for any other purposes, commercial or otherwise. This presentation does not constitute or form part of any offer for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this presentation nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. The information set out herein is not and does not purport to be an appraisal or valuation of any of the securities, assets or businesses mentioned herein. You acknowledge that any assessment of the Company that may be made by you will be independent of this document and that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

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 facts contained in this presentation, on the Company’s future financial position, strategy, plans, goals, and targets, future developments are forward-looking statements. The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results to be materially different from those 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 we operate and are not a guarantee of future performance. Any reference to past performance should not be taken as an indication of future performance. The Company 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 of many possible scenarios and should not be viewed as the most likely or standard scenario, nor any liability therefore (including direct, indirect or consequential loss or damage).

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Certain data in this presentation was obtained from various external data sources, and the Company has not verified such data with independent sources. Accordingly, the Company makes no representations as to the accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors.

The information contained in this document is as of February 28, 2011. Neither the delivery of this document nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date.

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Introduction to BORN

The only premium hard coking coal producer in Indonesia

• BORN is a holding company, with all of its

operations conducted through PT Asmin

Koalindo Tuhup (“AKT”) and PT Borneo

Mining Services (“BMS”)

• AKT is the only hard coking coal producing

mine in Indonesia (“Tuhup Coal”)

• AKT holds a 3rd generation Coal Contract of

Work (“CCoW”) with favourable terms

including:

• advantageous corporate tax rate (25%),

• direct ownership of equipment, and

• no divestment requirement.

• BMS owns mining equipment that it rents to

AKT

• BORN listed on the Indonesian Stock

Exchange on 26 November 2010

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Current Corporate Structure

SAMIN TAN SURJADINATA SUMANTRI

PT BORNEO LUMBUNG ENERGI & METAL TBK

PT ASMIN KOALINDO TUHUP

(CCoW)PT BORNEO MINING SEVICES

56.25% effective

18.75% effective25%

99% 99.999%

PUBLIC

The Concession

• Holds two coking coal deposits - Kohong and Telakon blocks, within 21,630 hectares of concession area

• JORC compliant Reserves and Resources of 69.2 mt and 378.8 mt, respectively as of June 2010

• CCoW production permitted until 2039

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PT ASMIN KOALINDO TUHUP

To Port

The Concession

5

PT ASMIN KOALINDO TUHUP

JORC Mineable Reserves

Proved Probable Total

Kohong 36.5 32.7 69.2

Telakon - - -

Total 36.5 32.7 69.2

(in million tonnes)

(in million tonnes)

JORC Resource

Measured Indicated Inferred Total

Kohong 57.8 74.3 148.6 280.7

Telakon - - 98.1 98.1

Total 57.8 74.3 246.7 378.8

To Port

Ongoing Drilling programs –

Kohong Dump Denial Exploration Development

18 holes (May ‘11) 100 holes (Oct ‘11) 200+ holes (Ongoing )

Telakon Exploration

90 holes (July ‘11)

Logistical Solutions

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Increase self-sufficiency and decrease reliance on the Barito River

• Alternative transportation route through MahakamRiver a possible medium/long term solution

• Haul road or conveyor belt from mine to Melakport

• 8,000 tonne barges can be operated all year round

• ISP under construction at Damparan, to AKT design 1MT stockpile, 2,000tph unload, 4,000tph loading capacity

• On-river transshipment capability from 4,000 to 8,000 tonne barges

Mahakam River (355 km)

Existing logistics - Haul Road (36 km)

Existing logistics - Barito River (290 km)

Existing logistics - Barito River (272 km)

Haul Road or Conveyor Belt (112 km)

Taboneo

anchorage

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Ramp-Up

2009* 2010 2011 2012

Production capacity

at end of year 2.4mtpa 3.6mtpa 5.0mtpa 5.0mtpa

Production volume 0.88mt 1.95mt 3.60mt 4.60mt

Sales volume 0.21mt 1.65mt 3.60mt 4.60mt

To achieve 5mtpa:

�Install new barge loader (2,400tph) √ (May 2010)�Install new crusher (850tph) √ (Feb 2011)�Complete AKT designed ISP √ [May 2011]�Commission all new equipment [July 2011]�Complete other infrastructure ** [Aug 2011]�Complete rock sheeting of haul road [Oct 2011]

* First coal – Sept 2008, first commercial production – Sept 2009** Airstrip, permanent explosives magazine, 7 x 3m lt fuel tanks, expanded workshop, permanent camp.

Major mining equipment

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BORN owns a large mining fleet consisting of over 100 units of mining equipment

and about 130 haul trucks with more equipment currently on order

Capacity Expected

2.4 mtpa 3.6 mtpa 5.0 mtpa on site

OB Excavator 350T - Liebherr ─ ─ 5 By 7/11

OB Excavator 250T - Liebherr 4 4 ─

OB Excavator 200T - Komatsu 2 ─ ─

OB Dumptruck 100T - Komatsu 8 35 50 By 3/11

OB Dumptruck 100T - Terex 4 ─ ─

ADT 40T - Volvo (Cat) 40 ─ 8 By 4/11

ADT 40T - Terex 12 ─ ─

Coal Hauling Truck 20T - Hino 80 ─ ─

Coal Hauling Truck 38T 14 ─ ─

- Mercedes & Volvo

Coal Hauling Truck 35T - Renault ─ 20 20 By 4/11

Smaller Excavators 13 23 21 By 6/11

Graders, Dozers and Loaders ─ 24 34 By 6/11

Total: 177 106 138

Equipment

Mining equipment: in service and on order

Source Company information

Equipment

Source BORN

Mercedes Benz 38t Hauling Truck Renault 35T Haul Truck

Komatsu Excavator 200T

Liebherr 250T Komatsu 100t Dump Truck

Hino 20t Hauling Truck

Also has 35 tug & barge sets (22 x 4,000t, 13 x 8,000t)

105.6

23.3 9.4 25.2

38.7

55.8 87.6

172.3

144.3

79.197.0

197.5

0

50

100

150

200

2008 2009 2010F 2011F

Infrastructure Expansion Mining Equipment

Capex

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(in US$ million)

Source BORN

Note: From 2012, capital maintenance expenditure only, of USD 25m per annum

2.4 mtpa 3.6 mtpa 5.0 mtpaCapacity:

Equipment – excavators, trucks, dozers, graders, haul trucks, crusher, etc.

Infrastructure – fuel tanks, permanent camp, port stockpile expansion, road upgrade, airstrip, new workshop, permanent explosives magazine

Coking Coal Classification

Coal TypeAsh

% air dried

Volatile Matter

% air driedCrucible Swelling

Number

Gieseler Maximum Fluidityddpm

Coke Strength after Reaction

%

Mean Maximum Reflectance

%

Premium hard coking <8.5 19 - 38 8 - 9 500 - 30,000 55 - 74 0.80 - 1.60

Standard hard coking <9.7 19 - 38 6 - 9 200 - 25,000 >55 0.80 - 1.60

Semi-hard coking 8.0 - 10.5 17 - 26 4 - 6 200 - 5,000 50 - 60 0.80 - 1.70

Semi-soft coking 8.0 - 11.0 25 - 41 3 - 8 50 - 30,000 45 - 55 0.70 - 0.95

Low-volatile PCI 6.0 - 10.5 10 - 19 1 - 2 n/a n/a 1.20 - 3.00

High-volatile PCI 4.0 - 10.0 26 - 42 1 - 5 n/a n/a 0.70 - 0.95

Tuhup Coal (typical) 8.0 26.5 9 650 60 1.22

Source AME

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Other properties – Total Moisture 9%; Sulphur <0.85%; Phosphorous <0.015%; CV 8,300; HGI 105; Fixed Carbon 64%;

Alkali’s < 4%;

CRI 26.4; ‘G’ caking index 91; Sapoznikov shrinkage ‘x’ 23mm; plastic layer ‘y’ 25mm; Vitrinite 97%; JDI 78%

Tuhup Coal exhibits properties of a premium hard coking coal and has consistently achieved a selling

price similar to Australian hard coking coal

Premium Hard Coking Coal Product

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More Favorable

Source AME

Caking Properties (Crucible Swelling Number or “CSN”)

Fluidity

15,000 11,600ddpm

Volatile Matter

% adb

Sulphur

% adb

Ash

% adb

Less Favorable

6.6 7.0 7.3 8.5 8.9 9.5 10.0 10.0 10.5

0

6

12

Consol Energy Wesfarmers Rio Tinto BMA Teck Coal of Africa Mechal Riversdale

0.4 0.4 0.4 0.5 0.5 0.7 0.8 1.0 1.7

012

Mechal Rio Tinto Teck Wesfarmers BMA Riversdale Coal of Africa Consol Energy

18.5 20.7 21.5 23.1 24.3 26.5 26.8 29.9 37.0

02550

Mechal Rio Tinto Wesfarmers Riversdale BMA Teck Coal of Africa Consol Energy

1,100750

350 251 100 18450 (+)

0

1,000

15,000

Consol Energy Coal of Africa BMA Teck Rio Tinto Riversdale Wesfarmers Mechal

9.0 9.0 9.0 9.0 8.0 8.0 7.5 7.0 6.5

0

6

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Coal of Africa Riversdale Mechal BMA Wesfarmers Consol Energy Rio Tinto Teck

• Global marketing agreement with Glencoreuntil July 2012, 4.5% commission

• Samples of Tuhup Coal sent to 30 potential customers globally in China, Japan, Korea, Taiwan, India, Turkey, Finland, France, the Netherlands, Italy and Indonesia

• Entered into a one-year contract from Oct 2010 to Sep 2011 with Zhonglian, China for 1MT

• Entered into a one-year contract from Oct 2010 to Sep 2011 with General Nice, China for 1MT

• Discussing 1 year contract from Apr 2011 to Mar 2012 with Nisshin Steel, Japan for 0.4MT

• Discussing 3 year contract (Apr 2011-14) with China Steel, Taiwan for 0.12MTPA

• PT Shenrong Carbon 0.12MT for one year

• Enquiries from domestic users, offtake from mid 2011, up to 0.6MTpa (Krakatau Steel, Indoferro, Linfen, Wanxinda)

Reputable and Well Diversified Customer Base

BORN has built a strong customer base globally within a short time period

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India

China

Zhonglian

Japan

South Korea

Taiwan

Indonesia

Close Proximity to Largest and Fastest Growing Markets

BORN’s closer proximity to biggest markets provides competitive advantages over its main competitors

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Source AME, Trade Data

India

China

JapanSouth Korea

Indonesia

Australian coking coal companies

Taiwan

• Pricing of term delivery contracts to follow market (quarterly, monthly, spot);

• Prices similar to Australian premium HCC spot markets;

• Work toward 75%-80% of planned production into fixed term delivery contracts with reputable customers;

• Contract with steel mills and coke manufacturers in preference to traders;

• Diversify across regions and markets to limit exposure to any one economy

Closer proximity means lower overall freight cost, smaller vessels can be used (preferred by many customers); geared and grabbed vessels readily available; more ports can be destinations (shallower draft & geared); competitive cargo pricing.

Cost of production

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Total coal cash cost of production breakdown

(1) Can increase by US$2.70-5.20 if rehandling and storing at the ISP

BORN’s total cash cost of production,

delivered to Taboneo, is US$69.78/t for 2010 (1)

BORN’s total cash cost after royalty and commission, is US$105.82/t for 2010

Thank you

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