Analyst Briefing

1Q23 Performance Result

17 May 2023

DISCLAIMER

The information contained in this presentation is intended solely for your reference.

This presentation contains "forward-looking" statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regarding ITM's future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where ITM participates or is seeking to participate and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "will", "may", "project", "estimate", "anticipate", "predict", "seek", "should" or similar words or expressions, are forward- looking statements.

The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which ITM will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. ITM does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company.

ITM makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not indications of future performance. In no event shall ITM be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. ITM makes no representation whatsoever about the opinion or statements of any analyst or other third party. ITM does not monitor or control the content of third-party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement.

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2 AGENDA 3 4 5

Highlights

Coal Market Trends

Operational Updates

Financial Updates

Q&A Session

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Highlights

1Q23 highlights - committed to persevere facing challenges

B U S I N E S S P E R F O R M A N C E

ASP stay elevated

ITM 1Q23 ASP remained high at $151/ton (-24% QoQ /+0% YoY) despite energy prices has started to decline.

Fulfill the coal production target

1Q23 production has achieved target of 3.8Mt (-13% QoQ/0% YoY) amidst of rainy weather around the beginning of the year.

Moderate result amidst difficult externalities

ITM recorded net profit of $183M (-40% QoQ/ -14% YoY) and EBITDA of $239M (-46% QoQ/ -26% YoY) in 1Q23 following the declining of global coal price and sales volume from the previous quarter.

G R E E N E R S M A R T E R

G O O D R E S P O N S I B L E M I N E R

Commitment to preserve the environment

During 1Q23, ITM has handed over 3,645 ha of watershed rehabilitation area with cumulative total of 23,701 ha total handover.

Recognition as the government partner

ITM received Award as the Government Partner in Mentawir Development from Minister of Environment and Forestry during the ceremony of 40th Forester Day Commemoration.

Collaboration with the Ministry of Manpower

ITM signed MoU with the Ministry of Manpower to improve local workforce capacity by conducting training and certification program.

Commencement of solar hybrid plant

2MWp hybrid solar plant has started to generate electricity in 1Q23 to support port operations in Melak area.

Received certification in cybersecurity

ITM obtained an international standard in managing information security management system through ISO/IEC 27001:2013 certification.

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PT Indo Tambangraya Megah Tbk published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 04:49:09 UTC.