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

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

June 2012

2

Disclaimer

This presentation is prepared by PT Borneo Lumbung Energi & Metal Tbk (the “Company”) solely for the purpose of 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).

You agree to keep the contents of this presentation strictly confidential. This presentation material is highly confidential, is being presented solely for your information and may not be copied, reproduced or redistributed to any other person in any manner. In particular, this presentation may not be taken or transmitted into the United States, Canada, Indonesia or Japan or distributed, directly or indirectly, in the United States, Canada, Indonesia or Japan. The Company does not intend to register any of its securities for offer or sale in the United States, or to conduct a public offering of securities in the United States.

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 31 May 2012. 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.

By attending the meeting where this presentation is made, or by reading these presentation slides, you agree to be bound by the foregoing limitations.

3

1

BORN’s results and plans2

Overview of BORN

Agenda

3 BORN’s Investment in BUMI Plc

4

1. Overview of BORN

5

Introduction to BORN

BORN is a holding company, with all of its coking coal operations conducted through PT Asmin Koalindo Tuhup (“AKT”)

AKT holds a 3rd generation Coal Contract of Work (“CCoW”) with favourable terms

PT Borneo Mining Services (“BMS”) owns mining equipment that it rents to AKT

BORN listed on the Indonesian Stock Exchange on 26 November 2010

Produced more than 3mt of hard coking coal in 2011

Completed acquisition of 23.8% stake in BUMI Plc on 20 January 2012 (3)

Notes: 1 As of 16 May 2012 at current exchange rates2 As of 12 February 2012 at an exchange rate of 1 USD to 0.63 GBP; total shares of 241.0mm including nonvoting shares of 60.4mm3 23.8% stake is held indirectly through two joint ventures with the Bakrie Group

From a greenfield concession acquired in 2008, BORN developed AKT's CCOW into Indonesia's largest and most important coking coal producer

Current Corporate StructureCurrent Corporate Structure

PT Republik Energi & Metal

PT Borneo Lumbung Energi & Metal TBKMarket Cap of US$1,453MM(1)

PT ASMIN KOALINDO

TUHUP

(CCoW)

PT BORNEO MINING

SERVICES

30%

99.9% 99.9%

Public

70%

BUMI PlcMarket Cap of US$2,866MM (2)

23.8% (3)

6

Experienced and Professional Management Team

Professional and diverse management team with extensive experience in world class firms Deep expertise in all areas of mine development, engineering and operations

Dave Alister Tonkin

AKT’s Operations Director

Samin Tan

Founder

Eva Novita

Finance Director

Alexander Ramlie

President Director

Ken Allan

Marketing Director

Peter Rod

AKT’s Head of Mining Operations

7

Borneo’s Vision

To be a world class mining company with a diversified portfolio of high quality coal and metals assets with the following characteristics :― High margin products― Large resource base ― Low production cost― Create value through developing greenfield assets

Drive value through aggressive production ramp ups, continuous productivity improvements, judicious use of available financing and capital, and strategic acquisitions

Creating Long Term Value for Shareholders

Create long term value for the benefit of all shareholders and stakeholders

8

History of BORNWithin 3 years of Greenfield Acquisition, BORN Achieved Profitability

31 May 1999, AKT signed the 3rd Generation CCoW

Jan 10Jan 09

Sep 2009, AKT commenced commercial production

31 Dec 2009, increased production capacity to 2.4 mtpa at the Kohong block

Future:Increase production capacity to 10.0 and 15.0 mtpa by end of 2013 and 2018,respectively

27 Oct 2007, BORN gained full management control of AKT

1999 Jan 07 Jan 08

2 Jan 2008, start of development and construction

Jan 11 Jan 12

Production capacity increased to 3.6mtpa in 2010 at the Kohong block

Jan 2012, completed 23.8% investment in BUMI Plc

Sep 2011, reserves increased to 132 mt representing 90.4% growth from 70 mt in June 2010

Nov 2010, listed on IDX and raised US$580MM

Notes: 1 CAGR calculated from 2005-20112 CAGR calculated from 2007-2011

Proven Track Record of Growing Reserves and ResourcesProven Track Record of Growing Reserves and Resources

20.4 32.3 36.5 65.822.935.2 32.7

65.9

76.9 89.7132.1

172.7127.6

146.1192.0 155.2

246.7 147.1

76.60

100

200

300

400

Proven Probable Measured & Indicated Inferred

127.6

222.7

43.3

268.9

67.5

244.9

378.7

69.2

131.8

319.8

Resources CAGR (1): 16.5% Reserves CAGR (2): 32.1%

mt

Nov 2005 Feb 2006 Apr 2007 Feb 2009 Jun 2010 Sep 2011

9

The ConcessionTremendous Production Upside and Long Reserve Life

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

JORC compliant Reserves and Resources of 131.8 mt and 319.8 mt, respectively, ― Equivalent to

28.6x (28.6 years) forecast production in 2012 of 4.4 million tonnes

CCoW production permitted until 2039

Production share (“Royalty”) 13.5%

JORC Mineable Reserves at September 2011

(mt) Proved Probable Total

Kohong 54.2 51.2 105.4

Telakon 11.6 14.7 26.4

Total 65.8 65.9 131.8

JORC Resources

(mt) Measured Indicated Inferred Total

Kohong 64.2 69.0 114.0 247.2

Telakon 11.8 27.7 33.1 72.6

Total 76.0 96.7 147.1 319.8

10

BORN - Logistical SolutionsIncrease Self-sufficiency And Decrease Reliance On The Barito River

Alternative transportation route through Mahakam River a possible medium/long term solution

Haul road from mine to Melak port 8,000 tonne barges can be operated

all year round

ISP at Damparan, to AKT design, 1MT stockpile, 3,000tph 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 (112 km)

Taboneoanchorage

11

2. BORN’s results and plans

12

Financial Highlights

In US$ Million 2009 A 2010 2011 Q1 2012

Current asset 32 368 990 854

Non current asset 451 580 706 1,780

Total asset 483 948 1.695 2,634

Loans from 3rd parties 329 32 410 1,396

Total liabilities 477 216 760 1,693

Total equity 6 732 936 942

Sales 22 303 693 123

EBITDA 9 145 360 52

Operating Income 6 103 289 31

Net income -11 38 213 12

Net Debt to Equity* 54.8X 0.04X 0.06X 1.1X

EBITDA to Net Debt* 0.02X 4.62X 5.81X 4.13X

EBITDA margin 41% 48% 52% 42%

Operating margin 27% 34% 42% 25%

Net income margin - 12.5% 30.7% 10%

Note:

* Net Debt after deducting preshipment facility of USD 345 Million

13

Revenue (FYE Dec)Revenue (FYE Dec)

BORN Achieved One of the Highest Production, Revenue and Earnings Growth in Industry

Notes: 1 EBITDA is operating profit plus depreciation and amortisationc

Rp BnProduction (FYE Dec)Production (FYE Dec)

Rp BnEBITDA (FYE Dec) (2)EBITDA (FYE Dec) (2) Net Income (FYE Dec)Net Income (FYE Dec)

000 tonnes

Rp Bn % margin% margin

121%

139%

423%

67%

Strong Operational and Financial Performance

US$ MillionUS$ Million 22.322.3 306.1306.1 693.1693.1

US$ MillionUS$ Million 8.68.6 146.8146.8 359.6359.6 38.838.8US$ MillionUS$ Million (11.1)(11.1) 213.3213.3

14

%

Strong Operational and Financial Performance (Cont’d)47

3334363831 31 31 28 28

0

10

20

30

40

50

Peer Leading EBITDA Margin

Source: Bloomberg Estimates for FY11

Note: 1 BORN’s EBITDA Margins are net of royalty payments; it’s tax rate is amongst the lowest (~25%) and hence even on Net Margin basis it is superior to other Indonesian coal producers

Strong Operational and Financial Performance (Cont’d)

BORN has the highest margin in Indonesia due to its superior coal product BORN aims to be the industry leader in profit margin

15

2011 Snapshot #

Production 3.28mt

Sales 3.007mt

ASP US$ 230/t

Margin 47%

EBITDA US$360m

Update for 2011 :

Ramp up to 5mt, done

Additional mining ops staff

Additional pits opened

ISP now operational

CHPP stockpile expanded

Port stockpile expanded

New camp mostly done

New magazine, done

New workshops mostly done

Airstrip finished

Haul road sealing ongoing

New markets (Europe)

Pinjam Pakai

16

Operations OverviewKey Operating Statistics And Future Ramp-Up

Notes: 1 First coal – September 2008; first commercial production – September 2009

Aggressively ramp up production

Phase 2: From 5.0 mtpa to 10.0 mtpa -> 2H2012 – 2015

Phase 3: From 10.0 mtpa to 15.0 mtpa -> 2014 – 2016

Will be achieved through a combination of expanding current production at Kohong block, bringing Telakon into production and further exploration to expand reserves and resources at both blocks

Cash cost reduction program to be achieved through installation of IPCC system

Long term production capacity target: 15.0 mtpaLong term production capacity target: 15.0 mtpa

($ MM)

Production as of FYE DecProduction as of FYE Dec

(2)

Key Operating Statistics

2009 2010 2011

Production (000 tonnes) 880 1,950 3,258

Strip Ratio (bcm/mt)(1) 15.1:1 16.5:1 16.5:1

Sales (000 tonnes) 210 1,650 3,007

Average Sales Price (US$/mt) 168 185 230

Cash Cost (US$/mt, Excl. Royalties and Marketing)

88 70 77

Total Cash Cost (US$/mt,Incl. Royalties and Marketing)

121 103 117

17

Q1 2012 Outstanding Debt Overview

70143 157 160

529

2012 2013 2014 2015 2016

Net Debt Maturities (2012E – 2016E)

Total debt outstanding: US$1 Billion Standard Chartered Bank Acquisition

Loan for Bumi Plc Investment

PT Borneo Lumbung Energi(“BLE”)

PT Asmin Koalindo Tuhup (“Tuhup”)

PT Borneo Mining Services (“BMS”)

99.99% 99.99%

US$ 345 million FGB Pre-shipment Loan US$ 27.5 million leasing from ANZ

US$ 0.7 million leasing from Indomobil Finance

US$ 20.5 million JBIC from CIMB Niaga US$ 4 million leasing from ANZ

US$ 1 million leasing from other various lease companies

Outstanding 3rd party loan US$ 382.2 million

Outstanding 3rd party loanUS$27.5 million

(US$ in millions)

US$ Million Total Exposure

Net Debt

Loan 1.020 1.020

Pre-shipment 345 -

Leasing 31 32

Total 1.396 1.052

18

Next steps

Next ramp up –

Second barge loader started

ISP stockpile expansion

Floating crane commitment

DP’s on ramp up fleet paid

Tugs/Barges ordered (7 new)

Open new pits

Add operational staff

Switch to Noble ?

New markets (Korea, India, domestic)

Pinjam Pakai, licences

Infrastructure expansion

Caterpillar 6090 x 11 units

Liebherr 996 x 14 units

Buchyrus RH200 x 2 units

Komatsu 830E x 30 units

Komatsu HD1500 x 10 units

Tugs/Barges x 25 units

Cranes x 10 units

Infrastructure (port, dumps, pits,

people, roads, training center..)

19

BORN Capex Program Up to 10 mtpa

17.7 9.425.2 30.0 20

38.5

87.6

172.3

220.0

330.0

56.2

97.0

197.5

250.0

350

2009 2010 2011 2012F 2013F

(US$ in millions)

Infrastructure expansion Additional mining equipment

550.0

147.0

283.0

83.0

37.0

Facilities & Mining Equipment

Excavators

Dump & Hauling Trucks

Crusher, Conveyor, Fuel Tanks, Explsoives Magazine

Dozers,Graders & Supporting Equipment

Breakdown of 2012F-2013F Capex

50.0

10.0

25.0

4.0

11.0

Infrastructure

Mine Camp & Workshop

CHPP, ISP and Port Stockpile

Washing Plant & Power Station

Port

(US$ in millions)

Estimated equipment purchase and infrastructure construction value at 31 March 2012Estimated equipment purchase and infrastructure construction value at 31 March 2012

20

Q1 2012 Operating Results

1Q12 1Q11 FY12 FY11

Production (000 tonnes) 650 950 4,400 3,306

Strip Ratio* 20 16 18 17

Sales (000 tonnes) 640 900 4,400 3,008

Average Sales Price US$/t 190 225 219 230

Production Cash Cost US$(Exc. Royalties and Mktg) 89 75 78 77

Total Cash Cost US$(Inc. Royalties and Mktg) 116 113 116 117

* Life of Mine SR = 20:1

21

1Q12 2Q12 3Q12 4Q12 FY12

Production (000 tonnes) 650 850 1,440 1,410 4,400

Strip Ratio* 20 18 16 17 17

Sales (000 tonnes) 640 910 1,450 1,350 4,400

Average Sales Price US$/t 190 200 220 230 219

Production Cash Cost US$(Exc. Royalties and Mktg) 89 85 78 75 79

Total Cash Cost US$(Inc. Royalties and Mktg) 116 116 114 114 115

22

The Future

2012 2013 2014 2015 2016

The Plan :

Capacity 5mt 10mt 10mt 12mt 15mt

Production 4.6mt 7mt 8mt 10mt 12.5mt

Sales 4.6mt 7mt 8mt 10mt 12.5mt

ASP $219/t $210/t $200/t $190/t $180/t

Costs $115/t $115/t $110/t $100/t $80/t

Challenges:

World markets/prices

New customers

Indonesian regulations- HBA- DMO- Value Added- Law No 4 compliance- PP24 (divestment)

Managing ramp up

Staffing quality/levels

Coal quality

Competition

Environmental

23

Close Proximity to Largest and Fastest Growing Markets4

Strong Operational and Financial Performance5

Premium Hard Coking Coal Product3

2 Advantageous Terms of 3rd Generation CCoW

1 Favorable Coking Coal Industry Outlook

6 Experienced Management Team

BORN’s Competitive Positioning

24

Close Proximity to Largest and Fastest Growing Markets

Significant cost and delivery time advantages to large end users in East Asia and India

India

China

JapanSouth Korea

Indonesia

Australian coking coal companies

Taiwan

Source: Wood Mackenzie, Trade Data

Estimated Shipping Time to Destination & Cost per Tonne

Producers DestinationEstimated time to

destination (Days)Estimated cost

per tonne (US$/t)

 

Japan 7-9 6-9

China 8-10 7-9

 

Japan 10-13 10-14

China 12-15 11-15

 

Japan 14-16 12-32

China 15-18 14-28

 

Japan 27-33 17-25

China 29-35 20-27

25

Premium Hard Coking Coal ProductConsistently Achieved ASP Similar To Australian Hard Coking Coal

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

1,100750

350 251 100 18450 (+)

0

1,000

15,000

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

More Favorable

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

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

9.0 9.0 9.0 9.0 8.0 8.0 7.5 7.0 6.5

06

12

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

Source: AME

Tuhup Coal is considered a premium hard coking coal product with very high vitrinite content, which is rare

26

Tuhup Coal Reputable Customers and Diversified Destinations

China General Nice China General Nice, Zhonglian, Zhejiang Materials Industry Fuel Group

Turkey Erdemir

India Tata Steel, Apex Energy Res.

Japan Nisshin Steel, Nippon Steel

Taiwan China Steel

Korea Hyundai Steel

Vietnam Tin Thinh Phat Company Ltd

China Baosteel, Wanxiang, Shente, CNBM, General Nice

Turkey & Romania

DBK, Erdemir

India Tata Steel, Taurian

Japan Nisshin Steel, JFE

Taiwan China Steel, Dragon Steel

Vietnam Trungdung Trading

Glencore marketing agent up to July 2012

Noble bought the Company’s production starting November 2011

27

Favourable Coking Coal Industry OutlookAsia Continues To Drive Imports And Australia Remains Key Exporter

mt mt

Globally Traded Coking Coal ImportsGlobally Traded Coking Coal Imports Globally Traded Coking Coal ExportsGlobally Traded Coking Coal Exports

Source: Wood Mackenzie Source: Wood Mackenzie

Japan India South KoreaChina Other SE Asia AmericasEurope Other

Asia: 6.6%4.4%

Asia: 6.1%5.7%

Australia

China

USA

Indonesia

Canada

Mozambique

Russia

Other

Australia: 7.1%4.2%

Australia: 5.4%3.6%

28

Favourable Coking Coal Industry Outlook (Cont’d)(1)

Note: 1 % shown represents countries / regions’ imports as % of global imports

Fast Growing Demand in China and India

mt

Coking Coal Imports (Asia)Coking Coal Imports (Asia)

CAGR: 7.2%

mt

Coking Coal Imports (India)Coking Coal Imports (India)

CAGR: 12.7%

Coking Coal Imports (China)Coking Coal Imports (China)

CAGR: 8.0%

mt

mt

Coking Coal Imports (SE Asia)Coking Coal Imports (SE Asia)

CAGR: 84.3%

29

Only Listed Hard Coking Coal Producer in Indonesia

Notes: 1 Market capitalization greater than US$400MM2 As at 8 Feb 2012

Listed Indonesian Coal Producers (1)

Coal TypeMCap (US$MM) (2)

BORN Hard Coking 1,700

BUMI Thermal 5,743

ATLAS Thermal 488

ADARO Thermal 7,074

BAYAN Thermal 6,702

BERAU Thermal 1,657

HARUM Thermal 2,310

INDIKA Thermal 1,353

ITMG Thermal 4,985

PTBA Thermal 5,199

SAKARI Thermal 2,193

1

2

3

4

5

6

7

8

9

10

11Thermal Coal (Listed Entity)

Hard Coking Coal (Listed Entity)

JAMBI

RIAU

EAST KALIMANTAN

WEST KALIMANTAN

CENTRAL KALIMANTAN

WEST SUMATRA

ACEH

LAMPUNG

NORTH SUMATRA

BENGKULU

SOUTH SUMATRA

SOUTH KALIMANTAN

6

4

8

5

10

9

117

10

2

10

5

5

2

9

59 9

5

10

3

3

3

4

1

5

11

9

3

2

Source: Bloomberg, Company Fillings, Broker Reports

30

3. BORN’s investment into Bumi Plc

31

Transaction Overview

Purchase Consideration

US$1.0 bn (valuing BUMI Plc at GBP10.91 per share at the date of the announcement) paid fully in cash (3)

Transaction is 100% funded through a US$1.0 bn amortizing senior debt facility provided by Standard Chartered Bank

Investment of a 23.8% strategic interest in BUMI Plc Post transaction, BORN, together with PT Bakrie & Brothers Tbk (“BNBR”) and Long Haul Holdings Limited

(“LH”), owns a 47.6% economic interest and a 29.99% voting interest in BUMI Plc (1)

Transaction

TargetOverview

BUMI Plc (listed on the LSE with a current market capitalisation of US$2.9 bn) is a leading thermal coal player owning (2) :

― 29% stake in PT BUMI Resources Tbk (“BUMI Resources”), the largest thermal coal producer in Indonesia,

― 85% stake in PT Berau Coal Energy Tbk (“Berau”), the 5th largest thermal coal producer in Indonesia,

― Interests in a diversified metals portfolio through BUMI Resources’ 87% ownership of its listed subsidiary PT BUMI Resources Minerals Tbk (“BRM”)

Corporate Governance BORN has right to nominate professional management and directors to BUMI Plc’s board

BORN completed its 23.8% investment in BUMI Plc, one of the largest diversified coal and metals companies in the world, on 20 January 2012

Notes1 Voting interest calculated based on voting capital of 181 m shares 2 As of 8 February 2012 at an exchange rate of 1 USD to 0.63 GBP, including nonvoting shares for a total of 241.0mm shares3 Price per share in GBP based on exchange rate of 1 USD to 0.62 GBP on 31 October 2011

32

Transaction Structure

Sellers

49.0%

BORN

51.0%

Sellers

51.0%

BORN

49.0%

BUMI Plc

Others

52.4% (1)

(Comprised of suspended

voting ordinary shares)

JV 2

25.1% (1)

JV 1(Comprised of voting ordinary

shares)

22.5% (1)

BORN will have active participation in the management of BUMI Plc and key underlying operating companies BORN is well positioned to meaningfully realize value for all shareholders by virtue of its own impressive track

record in Indonesia

Strong New Governance Rights At All Levels

Note1 Stakes based on BUMI Plc’s total share capital of 241 million shares

Transaction Structure And Governance Framework

33

Combined coal reserves of 3.3bn tonnes with combined production of 78mt in 2010

― 9M 2011 production of 62mt

― Production expected to reach 140mt in 2014

― Significant potential for reserves expansion; only 70% of KPC’s concession area explored

Open cut mining with dedicated port facilities

― All operations within 20km of coast

Diversified portfolio of first class metals

5th largest coal producer in Indonesia with FY11 production of 20mt

Total coal reserves: 467mt Coal concession area: 118,400 ha License Expiry Date: 2025

BerauMarket Cap of US$1,612MM (4)

85%

BUMI Resources MineralsMarket Cap of US$1,631MM (4)

Diversified portfolio of first class metals assets in Indonesia and Africa

BUMI ResourcesMarket Cap of US$5,359MM (4)

Largest thermal coal producer in Indonesia Total coal reserves: 2,860mt (5)

Coal concession area: 188,007 ha License Expiry Dates: 2018 - 2039

29%

87%

10%48% 32%10%

Current Corporate Structure (1)

Overview of BUMI Plc

BUMI PlcMarket Cap of US$2,866MM (3)

PT Bukit Mutiara Founders (2)

Access to World Class Coal and Mineral Assets

BORN & BNBR & LH

Others

Source: BUMI Plc, BUMI Resources and Berau Filings

Note1 Based on total TSO of 241.0mm, including 60.4mm nonvoting shares2 Nathaniel Rothschild holds 8.8% of total shares3 As of 12 February 2012 at an exchange rate of 1 USD to 0.63 GBP, including nonvoting shares for a total of 241.0mm shares4 As of 12 February 2012 at an exchange rate of 1 USD to 9,091 IDR5 Includes KPC, Arutmin, Pendopo and FBS

34

BORNHard Coking Coal

2011 Expected Sales: 3.46 mt(1)

Market Cap: US$1.7 bn(2)

BerauThermal Coal

2011 Expected Sales: 20mtMarket Cap: US$1.6 bn(2)

BUMI Resource MineralsGold, Copper, Zinc, Iron Ore

ResourcesMarket Cap: US$1.6 bn(2)

BUMI ResourcesThermal Coal

2011 Expected Sales: 83 mt(1)

Market Cap: US$5.4 bn(2)

BORN Hard Coking Coal

High CV Thermal CoalLow CV Thermal Coal

Non Coal assets Gold, Copper, Zinc, Iron Ore

Access to world class thermal coal and metal assets, with well established business models and strong cash flows

Diversification of Product Portfolio

Investment into 1st and 5th largest thermal coal producers in Indonesia

Combined reserves and production of both companies stand at 3.3 bn tonnes and 85m(3) tonnes respectively

Stake in a World Class Thermal Coal Asset

World’s largest sea-borne thermal coal producer Well diversified product portfolio across hard coking coal, high

grade and low rank thermal coal Valuable assets in the metals segment comprising of gold,

copper, zinc, iron ore, lead

World Class Diversified Mining Company

Systematic ramp-up, cost synergies, and acceleration of exploration, development and production of greenfield assets

Shareholder Value Creation

Positions the combined group as the largest Indonesian mining company in the world in terms of production

Global Indonesian Natural Resources Company

Highly positive demand and price outlook for global thermal coal

Indonesian proximity to key markets and position as the world’s largest supplier of thermal coal

Access to the Growing Thermal Coal Market

World Class Internationally Diversified Mining Company

Opportunity to acquire a well known high quality asset that is immediately earnings accretive

Transaction Objectives - BORNTransaction Objectives - BORN Transaction Objectives - CombinationTransaction Objectives - Combination

Transaction Rationale

Note1 2011 expected sales annualized from 2011 interim results 2 As of 12 February 2012 at an exchange rate of 1 USD to 9,091 IDR3 Expected 2011 production

35

Pendopo

Type: ExplorationReserves: 687 mt

Arutmin

Type: ProductionReserves: 469 mt

Kaltim Prima Coal

Type: ProductionReserves: 1,422 mt

Fajar Bumi Sakti

Type: ExplorationReserves: 282 mt

INDONESIA

Newmont Nusa Tenggara

Type: ProductionReserve: 7.7 bn lbs copper, 7.7 mm oz goldGrade: 0.6% Cu, 0.5g/t Au (phase 6)

Gorontalo Minerals

Type: ExplorationMineral Inventory: 125 mtGrade: 0.55 g/t Au, 0.75 Cu

Citra Palu Minerals

Type: ExplorationMineral Inventory: 2.5 mt gold, 106 mt molyGrade: 7.5 g/t Au, 0.14% Moly

Coking Coal Thermal Coal Diamond, Precious Metals Iron OreZinc, Lead Copper & Gold Gold, Moly

Held by BUMI Plc and its subsidiaries Held by Borneo Lumbung Energy and its subsidiariesProducing assets

Konblo BUMI (Liberia)

Type: Exploration

BUMI Mauritania

Mineral Inventory: 100 mtGrade: 60% Fe

AFRICA

Diversified Across Coal and Metals

Dairi Prima Minerals

Type: DevelopmentReserves / Resources: 11 mt / 25 mtGrade: 11.5% Zn, 6.8% Pb

Kohong

Type: ProductionReserves: 105 mtResources: 247 mt

Berau

Type: ProductionReserves: 467 mt

Telakon

Type: DevelopmentReserves: 26 mt Resources: 73 mt

Transaction Rationale (Cont’d)

36

253286

0

100

200

300

400

Standalone Proforma

13.1%

BORN Expected EPS Accretion for FY2012E and FY2013E (2)

(US$MM)

Net Income (3)(4)(5)

EPS13.1% 26.6%

26.6%

US$0.014 US$0.016 US$0.015 US$0.020

BUMI Plc’s investment is immediately earnings accretive for BORN

Notes:1 EBITDA (2011E) equal to c.US$ 332 m based on Bloomberg mean estimate2 EPS forecasts for BORN standalone based on mean of brokers’ consensus as indicated on Bloomberg the day prior to announcement of the transaction (31 Oct 2011). EPS forecasts for BUMI Plc

based on mean of brokers’ consensus as indicated on Bloomberg on 10 Feb 20123 BORN’s effective economic interest of 23.8% in BUMI Plc4 All-in cost of c.7% p.a. for acquisition debt taken by BORN to finance the acquisition5 Assumes no additional equity issuance

FY2012E FY2013E

276

350

0

100

200

300

400

Standalone Proforma

Financial Impact On BORN

Source: Bloomberg, Company Presentations

Post Transaction Multiples

Gross Debt / EBITDA (2011E)(1) x 3.2x

Net debt / EBITDA (2011E)(1) x 2.6x

Net debt / Equity x 1.0x

Post Transaction (Pro forma as at Sep 2011)

Debt US$MM 1,068

Cash US$MM 207

Net debt US$MM 861

Equity US$MM 890

Pre Transaction (Sep 2011)

Debt US$MM 68

Cash US$MM 207

Net debt US$MM (139)

Equity US$MM 890

37

Thank you

Q’s ?