Micromine Mining Conference 2021

29 June 2021

“Road to IPO for Mining Industry”PT BURSA EFEK INDONESIA

Indonesia Capital Market

FOR DISCUSSION PURPOSES ONLY | 5

Capital market function to bridge suppliers of capital and those who need investment platform

for their capital, in the form of equity backed securities and/or long-term debt securities.

RegulatorOtoritas Jasa Keuangan

Securities FirmsUnderwriter, Broker, etc.

Capital Market Supporting

Institutions & ProfessionsNotary, Public Accountant, Legal Firm,

etc.

Self Regulatory OrganizationIDX, KPEI and KSEI

Party who in

need of capital

Parties who

need investment

platform

ISSUER INVESTOR

Source: IDX, WFE

YTD June 2021

Equity IPO trendThe number of listed companies increased sharply for the last three years and the highest among ASEAN

51

28

18

11

3

Indonesia Thailand Malaysia Singapore Philippines

Number of IPO in 2020

55

30 28

13

4

Indonesia Malaysia Thailand Singapore Philippines

Number of IPO in 2019

FOR DISCUSSION PURPOSES ONLY | 7

2523

31

24

1816

37

5755

51

28

15

-

5

10

15

20

25

0

10

20

30

40

50

60

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Jan-

Jun '20

YTD

Jan-

Jun '21

Number of IPO Total Value of New Issue

25 Companies on

the Pipeline

Value

(IDR Tn)

Number

of IPO

Listed Mining & Supporting Companies at a Glance

FOR DISCUSSION PURPOSES ONLY | 10

Minerba Companies at IDX*)

5%

Stocks Bonds

31

05

STOCKSA total of 31 minerba companies

issued stock in Indonesia Stock

Exchange.

STOCKS AND BONDSA total of 5 minerba companies

issued both stocks and bonds in

Indonesia stock exchange.

Minerba Companies by type of instrument at IDX*)

There are 36 Minerba companies

(equivalent to 5%) out of 732 total

listed companies

Total Minerba Market Cap listed

companies Rp188,5 T

*) data as of June 2021

There are 6 mineral and coal companies (equivalent to 13.3%) that

are included in the LQ45 index.

Unlimited

Source of

Funds

Enhance

Company’s

Performance

Improve

Company’s

Image

Accelerate the

Implementation

of GCG

Avoid family

ownerships’

conflictTax Incentive

Optimal Valuation

for

the Company &

the Founders

Ensure

Business

Continuity

Getting

Strategic

Partnership

BENEFIT OF GOING PUBLIC Employees with

High Loyalty and

Professionalism

Provide liquidity

for owner,

investor &

employee

FOR DISCUSSION PURPOSES ONLY | 12

IPO & LISTING PROCESS

Internal and documents preparation, helped by

underwriter & supporting professions

PREPARATION

Evaluation Process

by OJK & BEI

EVALUATION

Registration

Statement

Preliminary

Agreement

Application to IDX

Collective Stock

Deposit Request to

KSEI

Pre-effective

Statement

Principle

Approval

Effective

StatementListing Approval

Listing & trading

(Secondary Market)

Initial Public

Offering( Primary

Market)

Duration Process: varies

e-IPO

*Depends on internal readiness

of the company

BOOK BUILDING IPO LISTING

Demand Pooling

& pricing

PROSPEKTUS

Duration Process: ± 3-4 months

PRIMARY MARKET SECONDARY MARKET

IPO

PROCEED

e-Registration

FOR DISCUSSION PURPOSES ONLY | 13

C R I T E R I AE Q U I T Y L I S T I N G B O A R D

M A I N B O A R D D E V E L O P M E N T B O A R D

Incorporated

Independent Commissioner

Corporate Secretary

Operational Lifetime(posted operating revenues)

Operating Profit

Audited Financial Report

Capital

Perseroan Terbatas (PT) Perseroan Terbatas (PT) Perseroan Terbatas (PT)

Yes (Min. 30%) Yes (Min. 30%) Yes, with 6-12 months transition / adjusting time

Yes Yes Yes, with 6-12 months transition / adjusting time

Yes Yes Yes, with 6-12 months transition / adjusting time

> 36 Months > 12 MonthsGenerated revenue

in the last commercial year

> 1 YearMay experience loss

but should have been operating & net profit

within 2 or 6 years based on projection

May experience loss

but should have been operating & net profit within

6 years based on projection

Min. 3 Years

(2 Years Unqualified Opinion)Min. 12 Months (1 Year Unqualified Opinion)

Min. 12 months

(unqualified opinion)

NTA* > Rp100 billion

NTA* > Rp5 billion

Revenue > Rp40 B & MarCap > Rp200 B

GO

OD

CO

RP

OR

AT

E

GO

VE

RN

AN

CE

AC

CO

UN

TIN

G &

FIN

AN

CE

Not applicable

(in compliance with POJK 53: Asset < Rp250

billion)

EQUITY LISTING REQUIREMENT ON IDX*)

Op. Profit > Rp1 B & MarCap > Rp100 BOR

OR

Number of owned shares

by non controlling & non

majority shareholder

Number of Shareholder

Min. 300mn shares:

Min. 20%

≥ 1,000 parties ≥ 500 parties ≥ 300 parties

CA

PIT

AL

STR

UC

TU

RE

Equity Total Share

< Rp500 Billion 20%

Rp500 B - Rp2T 15%

> Rp2 Trillion 10%

Min. 150mn shares:

Equity Total Share

< Rp500 Billion 20%

Rp500 B - Rp2T 15%

> Rp2 Trillion 10%

IPO Share Price ≥Rp100 ≥Rp100 ≥ Rp50

Audit Committee &

Unit of Internal Audit

A C C E L E R A T I O N B O A R D

*NTA (Net Tangible Asset) : Total Asset – Intangible Asset – Deferred Tax Asset– Total Liabilities – Non-Controlling Interest

FOR DISCUSSION PURPOSES ONLY | 14

Additional Listing Requirement for Minerba Companies*)

FOR DISCUSSION PURPOSES ONLY | 15

In Accordance with I-A.1 Listing Rules

Exploration Operation Production Sales stage

2 3 41 Appointment of

company’s Technical

Director

Mining

Business

License

(“IUP”)

Has proven & probable

reserve signed by

Competent Person

Has Clean and Clear

Statement from Ditjen

Minerba

Minerba Company

General

Requirements

:

1 Feasibility Study

signed by

Competent Person

2 Mining Business

License – Production

Operation (“IUP-OP”)

3 Business

Feasibility Study

done by appraisal

4 Profit

Projection

on 4th years

6 Work Plan and

Budget submitted

to authorized

institution

5 Statement of Information

Validity and Relevancy

signed by Competent

Person (1-year max)

*) Additional requirements for

Minerba Companies that:

- Have not started production

stages, or

- Have started production

stages but have not booked

revenue

:

DISCLAIMER

The facts and opinions stated or expressed in this publication are for information purposes only andare not necessarily and must not be relied upon as being those of the publisher or of the institutionsfor which the contributing authors work. Although every care has been taken to ensure the accuracyof the information contained within the publication, it should not be by any person relied upon as thebasis for taking any action or making any decision. The Indonesia Stock Exchange cannot be heldliable or otherwise responsible in anyway for any advice, action taken, or decision made on the basisof the facts and opinions stated or expressed or stated within this publication

INFORMASI LEBIH LANJUT

DAPAT MENGHUBUNGI:

PT BURSA EFEK INDONESIADIREKTORAT PENILAIAN PERUSAHAAN

JAKARTA

GEDUNG BEI TOWER 1, LANTAI 4

JL. JEND. SUDIRMAN KAV 52-53, JAKARTA

TELP: 021 5150515gopublic@idx.co.id

“The good parts about being a public

company are increased discipline,

increased execution and increased

transparency to make sure that you

are really building a company for a

hundred years” – Dan Rosensweig