Analyst Briefing

2Q23 Performance Result

16 August 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.

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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

2Q23 highlights - robust operational performance

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

2Q23 solid production volume exceeding the target

2Q23 production level reached 4.4Mt (+16% QoQ /

+12% YoY), exceeded 2Q23 target by 6%, supported by good weather and robust operations.

Sales volume rose while price eased down

Sales volume recorded at 5.4Mt (+19% QoQ / +40%

YoY), while 2Q23 ASP adjusted at $113/ton (-25%

QoQ / -44% YoY) as coal benchmark price normalized.

Managing cost effectively

Cost control measures through operations driver has favorably impacted cost, as 2Q23 cost declined to $80/ton (-18% QoQ / -11% YoY).

Pressured financial performance

Declining coal price has reduced ITM net profit at $124M (-32% QoQ / -50% YoY) while EBITDA is recorded at $169M (-29% QoQ / -57% YoY) in 2Q23.

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

Progress of Mentawir nursery

ITM is chosen by the government to build and manage Mentawir Nursery to support the new capital city "Nusantara" with coverage area of 32.5Ha. As of June 2023, the development of Mentawir nursery has almost completed and the handover is expected by the later of 2023.

Collaboration with local stakeholders

We are achieving our sustainability goal hand-in-hand with local communities nearby our operations. One of initiatives is by transforming cultural heritage into an economic engine in Jorong as we aided local SMEs to produce the traditional- motif clothing (batik).

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

Steps toward underground gasification

ITM has signed MoU with the Ministry of Energy and Mineral Resources' Tekmira to carry out studies to support UCG Pilot Test. The MoU will take effect in the period of 2023- 2025 and covers various technical and environmental aspects.

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PT Indo Tambangraya Megah Tbk published this content on 16 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 04:38:05 UTC.