PT Bumi Resources Tbk : BUMI ANNOUNCES FULL YEAR 2022 RESULTS (PSAK66 & Consolidated)

Bakrie Tower,12th floor

Komplek Rasuna Epicentrum

Jl. H.R. Rasuna Said

Jakarta, INDONESIA 12940

Website: www.bumiresources.com

Company Information

BUMI ANNOUNCES FULL YEAR 2022 RESULTS

Jakarta, 30 March 2023

PT Bumi Resources Tbk. ("BUMI") confirms that its the detailed audited Financials PSAK 66 method with notes have been posted on IDX web on 28 Mar 2023.

Referring to company announcement dated 28 March 2023, we presented the FY-22 vs FY-21 Consolidated Financial Performance (including KPC).

Attached for your information is:

1. The PSAK 66 Income statement FY-22 (YOY) (Appendix 1)
2. The Consolidated Income statement FY-22 (YOY) including KPC for the benefit of investors (Appendix 2)
3. Operating Metrics of the BUMI on full basis for FY-22 (YOY) (Appendix 3)

Performance FY-22 vs FY-21 based on PSAK 66

Gross Revenue	USD 1,830.1 million vs USD 1,008.2 million or increased by 82%
Cost of Revenue	USD 1,459.4 million vs USD 806.5 million or increased by 81%
Gross Margin	USD 370.6 million vs USD 201.7 million or increased by 84%
Operating Expenses	USD 147.3 million vs USD 77.9 million or increased by 89%
Operating Income	USD 223.4 million vs USD 123.9 million or increased by 80%
Income before Tax	USD 694.1 million vs USD 291.1 million or increased by 138%
& Profit Sharing
Income For the Period	Increased by 149% to USD 556.7 million vs USD 223.4 million - Sharp
	Jump of USD 333.5 million
Net Income For the
Period Attributable to:
Owners of The Parent	Increased by 213% to USD 525.3 million vs USD 168.0 million - Sharp
	Jump of USD 357.3 million

Consolidated Performance FY-22 vs FY-21

FULL YEAR 2022 CHALLENGES

The year presented unique challenges such as continuous heavy rains since late 2021 onwards, the energy crisis, aggravated by geopolitical developments, fears of recession and the recent financial instability which presents potential to lead to further economic disruption.

Royalty rates for KPC and Arutmin increased to 14% (domestic) and up to 28% (Exports - on coal price above USD100/t) vs flat 13.5% in previous years - an increase by USD 1,942 million up in FY-22 vs the previous year (USD 2,698 million vs USD 756 million YOY)

OPERATING HIGHLIGHTS CONSOLIDATED FY-22 vs FY-21

• Record Highest Revenue USD 8,532 Million
• Gross Margin USD 2,405 million
  Royalty paid USD 2,698 million (vs USD 756 Million YOY)
• Operating Profit USD 2,067 million
• Operating Margin 24%
• Profit Before Tax USD 1,863 Million
• Profit After Tax and Profit Sharing USD 1,164 Million
• Attributable Profit USD 525 Million vs USD 168 Million YOY

OPERATIONS

• Sales volume 69.4 MT vs 79.0MT last year (decreased 12%)
• • KPC sales of 48.2MT vs 56.9MT dropped 15%, Arutmin 21.2MT is 4% lower YOY.
• Total Coal Mined for FY-22 at 71.9MT vs 78.8MT last year - KPC decreased 9% but Arutmin is 3% lower YOY.
• • Major input was La Nina Continuous rain throughout the year which affected output by 9% (7 MT) YOY
• Realized Coal Prices for FY-22 rose $121.0/ton vs $67.4/ton in FY-21 - 80% increase YOY.
• Production Costs:
  Costs increased from $37.1/t in FY-21 to $46.9/t in FY-22 mainly due to higher oil prices and higher stripping ratio.
• End Year inventory increased 3.5MT vs 1.5MT YOY.

DEBT REPAID:

• Outstanding debt was repaid with MCB/OWK conversions into shares and the $1.6 billion Non- Preemptive Share Issue without rights (200 billion share at Rp 120/ share) in Oct 22. Salim Group became a joint controlling shareholder with Bakrie.
• Outstanding shares on 31 Dec 22 stood at 371.3 billion compared with 74.3 billion at the beginning of the year.
• The Company is as good as debt free and will eliminate interest expenses in future.

AWARDS

• Bumi Win Corporate Risk Manager of The Year in Energy Risk Asia Awards 2022 (Nov 2022).
• Bumi Wins Highest ESG Rating Amongst 56 Coal Companies Worldwide from Refinitiv (June 2022).
• Bumi Ranked Top 50 Mid Cap Public Listed Company for Corporate Governance 2022 by IICD (30 May 2022).
• Bumi Wins Top Green Elite & Gold Plus Awards for Emission Reduction & Transparency by Berita Satu Group & Bgk (25 April 2022).

Energy Transition - Decarbonization Strategic Framework

• A Decarbonization strategic framework to address climate change and emission issues by BUMI group is under preparation for implementation over the medium term.

Guidance 2023

Productions: 75MT- 80MT

Prices: $100/t - $105/t

EARNINGS CALL ON FY 2022 RESULTS

A global earnings call on our FY-22 results was held on 30 March 23 at 4pm (Jakarta time).

For further information, please contact:
Dileep Srivastava
Director & Corporate Secretary
PT Bumi Resources Tbk.
Tel	(62-21) 5794 2080
Fax	(62-21) 5794 2070
email	[e-mail]
	www.bumiresources.com

Enc.	:
-	PSAK Method FY-22 vs FY-21	- Appendix 1
-	Full Consolidation Method FY-22 vs FY-21	- Appendix 2
-	Operational Summary (on full basis) FY-22 vs FY-21	- Appendix 3

Appendix - 1

PSAK66 Method FY-22 vs FY-21

In USD

	31 Desember /	31 Desember /
	December 31, 2022	December 31, 2021
	Metode PSAK66/	Metode PSAK66/
	PSAK66 Method	PSAK66 Method
PENDAPATAN	1,830,079,927	1,008,212,975	REVENUES
BEBAN POKOK PENDAPATAN	(1,459,438,981)	(806,476,329)	COST OF REVENUES
LABA BRUTO	370,640,946	201,736,646	GROSS PROFIT
BEBAN USAHA	(147,277,732)	(77,876,631)	OPERATING EXPENSES
LABA USAHA	223,363,214	123,860,015	OPERATING INCOME
(BEBAN) PENDAPATAN LAIN-LAIN - NETO	470,781,694	167,201,664	OTHER (EXPENSE) INCOME - NET
LABA SEBELUM BEBAN			INCOME BEFORE INCOME
PAJAK PENGHASILAN	694,144,908	291,061,679	TAX EXPENSE
BEBAN PAJAK PENGHASILAN	(115,590,243)	(67,684,665)	INCOME TAX EXPENSE
LABA NETO SETELAH PAJAK	578,554,665	223,377,014	NET INCOME AFTER TAX
BAGI HASIL	(21,890,159)		PROFIT SHARING
LABA NETO	556,664,506	223,377,014	NET INCOME
Total Laba Tahun Berjalan Yang Dapat			Total Net Income For The Year
Diatribusikan Kepada:			Attributable To:
Pemilik Entitas Induk	524,940,964	167,861,585	Owners of the Parent Company
Kepentingan Non-Pengendali	31,815,882	55,311,159	Non-Controlling Interests
	556,756,846	223,172,744