PT Aneka Tambang Tbk : 2nd Quarter 2022

QUARTERLY REPORT

PT ANTAM TBK

For the First Six Month Ended June 30, 2022

ARBN - 087 423 998

Securities Ticker: ASX: ATM, IDX: ANTM

Pomalaa Ferronickel Plant

Pongkor Gold Processing Plant

Tayan Bauxite Mine

HIGHLIGHTS

ANTAM Sales Performance for the first six month period of 2022 (1H22) booked at Rp18.77 trillion an increase of 9% from the first six month period revenue in 2021 (1H21) of Rp17.28 trillion.

ANTAM's booked unaudited ferronickel production volume within 1H22 at 11,982 ton nickel within ferronickel (TNi), with unaudited ferronickel sales volume amounted to 9,622 TNi.

In 1H22, ANTAM's unaudited nickel ore production amounted 4.39 million wet metric ton (wmt), which was used as ore feed for ANTAM's ferronickel plant as well as being sold to domestic market. ANTAM's unaudited nickel ore sales in 1H22 reached at 3.04 million wmt.

ANTAM record unaudited gold sales figure in 1H22 reached of 13,469 kg (433,038 troy oz),

with unaudited production volume amounted to 673 kg (21,637 troy oz).

In 1H22, ANTAM's unaudited bauxite production volume amounted 880,618 wmt, which was used as ore feed for alumina production and as well as being sold to the third party customer.

Meanwhile, the unaudited bauxite sales volume in 1H22 reached 661,266 wmt.

ANTAM Conducted Annual General Meeting of Shareholders Financial Year 2021.

ANTAM Maximizes Greenhouse Gas Emission Reduction to Maintain Sustainability.

CORPORATE INFORMATION AS PER JUNE 30, 2022

Board of Commissioners
F.X. Sutijastoto	President Commissioner and Independent Commissioner
Gumilar Rusliwa Somantri	Independent Commissioner
Anang Sri Kusuwardono	Independent Commissioner
Bambang Sunarwibowo	Commissioner
Dilo Seno Widagdo	Commissioner
Board of Directors
Nicolas D. Kanter	President Director
I Dewa Wirantaya	Director of Operations and Production
Dolok Robert Silaban	Director of Business Development
Elisabeth RT Siahaan	Director of Finance and Risk Management
Basar Simanjuntak	Director of Human Resources

Share Information

• ANTAM's market capitalization as at June 30, 2022 was Rp43.26 trillion.
• ANTAM's share prices on the Indonesia Stock Exchange (IDX) hovered within the range of Rp1,725-Rp2,900 per share during January-June 2022.
• ANTAM's average share price on the IDX during 1H22 period was Rp2,288 per share.
• ANTAM's average share price on the ASX during 1H22 period was AU$1.16 per CDI.

Top 10 Public Shareholders:

1. PT INDONESIA ASAHAN ALUMINIUM (PERSERO)
2. BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD BOARD-2039927326
3. DJS KETENAGAKERJAAN PROGRAM JHT
4. DJS KETENAGAKERJAAN PROGRAM JP
5. JUNI SETIAWATI WONOWIDJOJO
6. JPMCB NA RE - VANGUARD EMERGING MARKETS STOCK INDEX FUND
7. JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND
8. DJS KETENAGAKERJAAN PROGRAM JAMINAN KECELAKAAN KERJA
9. CACEIS BANK, LUXEMBOURG BRANCH / CANDRIAM EQUITIES L
10. CACEIS BANK, LUXEMBOURG BRANCH/ LOMBARDODIER FUNDS

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PRODUCTION VOLUME (UNAUDITED)

			2Q21		1H21		2Q22		1H22
Commodity		Unit	(Apr - Jun)	(Jan - Jun)		(Apr - Jun)		(Jan - Jun)
			2021		2021		2022		2022
Ferronickel		TNi	6,379		12,679		6,301		11,982
Nickel Ore		Wmt	2,705,638		5,342,661		1,477,420		4,394,525
Gold		Kg/t oz	428/13,761		718/23,084		304/9,773		673/21,637
Silver		Kg/t oz	2.929/94,169	5,130/164,933		1,675/53,852		3,781/121,561
Bauxite		Wmt	536,773		1,094,127		411,296		880,618
Alumina		Ton	13,395		28,710		40,063		73,893
PRODUCTION AND SALES		During the second quarter of 2022 (April -
During the first six month period of 2022	June 2022, 2Q22) unaudited ferronickel
production reached 6,31 TNi, grows 11%
(January - June 2022, 1H22) ANTAM marks	compared to the first quarter 2022 (Jan -
an unaudited revenue of Rp18.77 trillion, a	Mar 2022, 1Q22) production of 5,681 TNi.
rise to 9% compared to the first six month	Meanwhile, production volume within the
period of 2021 revenue of Rp17.28 trillion.	second quarter of 2021 (Apr - Jun 2021,
ANTAM's gold sales commodity becomes	2Q21) reached 6,379 TNi.
the biggest sales contributor of Rp12.28
trillion or equal with 65% from 1H22	In 1H22, ANTAM ferronickel unaudited sales
revenue.				volume reach 9,622 TNi, met with 80% of
The production and sales figures within 1H22	1H21 unaudited sales volume of 12,068 TNi.
During 2Q22 ANTAM sold 3,962 TNi
are generally reflected by the volatility of	(unaudited) ferronickel products, a lower of
global economics & geopolitics tension as	30% from the previous unaudited 1Q22 sales
well as the COVID-19 pandemic approached	volume of 5,660 TNi. The ferronickel
in East Asia. A series of conditions affect the	performance during 2Q22 are be affected by
demand of based metal product absorption	the COVID-19 lockdown condition in several
as well as the fluctuation of the international	sales destination locations in East Asia which
base metal selling price.			also bring an impact on limiting export
FERRONICKEL				trading activities. In addition to the high
			fluctuations	in nickel prices	in 2Q22 also
In 1H22, ANTAM's unaudited ferronickel	affected the level of customer absorption for
ferronickel products.
production volume reached 11,982 ton of
nickel in ferronickel (TNi), equal to 95% of	In the midst of the recent volatility of the
1H21 ferronickel unaudited production of	global economy and base metal commodity
12,679 TNi.				market conditions, ANTAM focuses on the

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implementation of strategic policies to meet	In 2Q22, ANTAM recorded gold production
an appropriate cost efficiency approach,	volume of 304 kg (9,773 t.oz). Meanwhile, in
while maintaining the stability of production	2Q22 ANTAM recorded an unaudited gold
level and aims to expand the export	sales volume of 6,894 kg (221,647 t.oz)
destination of ferronickel product.	improved by 5% from the gold sales volume
The Company believes the performance of	in 1Q22 of 6.575 kg (211.391 t.oz). Moreover,
ANTAM's Nickel Segment will consistently	the 2Q22 sales achievement was positively
grow in line with strengthening global eco-	increased by 16% compared to the 2Q21
nomic conditions and the positive outlook	sales volume. The recovery of national
for the absorption of nickel commodities.	economic growth led to an increase in
	domestic gold aspiration.

In 1H22, ferronickel sales become a second

contributor to the Company's revenue of In 2022, ANTAM will focus on developing

Rp3.12 trillion, a rise of 20% compared to	customer base in the domestic market, which
1H21 ferronickel sales of Rp2.59 trillion due	is line with the increase in public awareness
to the higher average nickel selling prices	of investing in gold and the growing
during the 1H22 period.	demand for gold in the domestic market.
GOLD	Pursuant to the Company's aim to ease
In 1H21, ANTAM recorded unaudited gold	customer access, on February 2022, ANTAM
commences the Precious Metal product sales
production volume of 673 kg (21,637 t.oz)	activity through the marketplace platform
from the Company's gold mines. Meanwhile,	Tokopedia and Shopee with the opening of
in 1H22 ANTAM recorded the unaudited	the "Butik Emas ANTAM Official" account in
gold sales volume achievement of 13,469 kg	addition to the existing official online sales
(433,038 t.oz), a positive improvement	through www.logammulia.com website.
compared to 1H21 gold sales volume of
13,341 kg (428,923 t.oz).	ANTAM through the Precious Metals

SALES VOLUME (UNAUDITED)

		2Q21	1H21	2Q22	1H22
Commodity	Unit	(Apr - Jun)	(Jan - Jun)	(Apr - Jun)	(Jan - Jun)
		2021	2021	2022	2022
Ferronickel	TNi	6,444	12,068	3,962	9,622
Nickel Ore	Wmt	2,057,289	3,655,505	708,045	3,039,479
Gold	Kg/t oz	5,930/190,654	13,341/428,923	6,894/221,647	13,469/433,038
Silver	Kg/t oz	2,488/79,991	5,137/165,158	3,235/104,007	6,035/194,029
Bauxite	Wmt	202,500	587,285	558,893	661,266
Alumina	Ton	26,927	61,241	39,321	74,143

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In line with ANTAM strategy to optimize the

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Processing and Refinery Business Unit is the	With a good resource profile and nickel ore
only gold refining plant in Indonesia with	reserves, in line with the Company's nickel
"Good Delivery List Refiner" accreditation	segment development plan, ANTAM will
from the London Bullion Market Association	strengthen the Company's business scale
(LBMA).	through the efforts to develop nickel mineral
	downstream, including to support the
During the 1H22 period, ANTAM's unaudited	development of the National Electric Battery
net sales of gold amounted to Rp12.28	industry.
trillion or a rise 3% from gold sales revenue
in 1H21 of Rp11.87 trillion.	During 1H22, ANTAM nickel ore sales
	contribute Rp2.33 trillion or 14% from the
NICKEL ORE	total Company's sales figure.
During 1H22, ANTAM unaudited nickel ore	BAUXITE
production volume produced as ferronickel	In 1H22, ANTAM recorded unaudited bauxite
plant feed ore material as well as being sold
to domestic market customers are	ore production volume, which was used as
amounting to 4.39 million wet metric ton	ore feed for alumina production and as well
(wmt) or meeting 82% of the production	as being sold to the third party customer,
volume in 1H21 of 5.34 million wmt. The	amounted to 811 thousand wmt. ANTAM
realization of production is also determined	unaudited bauxite ore production volume in
with the unaudited domestic nickel ore sales	2Q21 reached 411 thousand wmt.
volume during 1H22 which amounted to 3.04	In 1H22, ANTAM recorded an unaudited
million wmt which equals to 83% of sales
volume in 1H21 of 3.66 million wmt.	bauxite ore sales volume of 661 thousand
	wmt, which grew 13% compared to 1H21
ANTAM unaudited nickel ore production	bauxite ore sales volume. Moreover,
volume in 2Q22 reached 1.48 million wmt,	unaudited bauxite ore sales volume in 2Q22
lower than production volume in 1Q22 of	reached 559 thousand wmt, significantly
2.92 million wmt. The lower tone on	increased from 1Q22 bauxite sales of 102
production is determined by the lower 2Q22	thousand wmt. In addition to export sales, in
nickel ore sales of 709 thousand wmt. The	2022, the Company will also focus on
decline in nickel sales performance in the	developing domestic sales of bauxite ore.
2Q22 was also influenced by the significant	The sales contribution from bauxite during
upward trend in nickel ore prices during
2Q22 was not followed by a similar	1H22 amounted to Rp276 billion, a rise 30%
significance in the price of nickel ore	from 1H21 sales revenue of Rp213 billion.
derivative products (e.g. stainless steel
products) which also brought affected the	ALUMINA
absorption rate of ANTAM's nickel segment
products .