Bakrie Tower,12th floor

Komplek Rasuna Epicentrum

Jl. H.R. Rasuna Said

Jakarta, INDONESIA 12940

Website: www.bumiresources.com

Company Information

BUMI ANNOUNCES AUDITED FIRST HALF 2022 RESULTS

  • REVENUE $3,812 MILLION, UP 66%
  • $419 MILLION TOTAL INCOME, TRIPLES YOY
  • PROFIT BEFORE TAX $788 MILLION, ALMOST TRIPLES
  • ATTRIBUTABLE NET INCOME $168 MILLION, UP 8726% YOY

Jakarta, 1 September 2022

PT Bumi Resources Tbk. ("BUMI" or "The Company") confirms that the summarized Financial Statement for 1H'2022 has been published in Investor Daily on 1 September 2022. The detailed audited Financials with notes are already available on IDX and BUMI websites.

Attached for your information is:

  1. The Income Statement for First Half 2022 is PSAK 66 compliant ie consolidates Arutmin but equity accounts KPC.
  2. The Consolidated Income Statement 1H 2022, including KPC, is highlighted below for benefit of investors and compared YOY (Appendix 1).
  3. Operating Metrics of the BUMI on full basis for Jan-Jun 2022 (YOY) are attached (Appendix 2).

Comments on Consolidated Performance 1H'2022 vs 1H'2021

Revenue

US$3,812.4 million vs US$ US$2,295.7 million or increased by $1,517mn

(+66%)

Cost of Revenue

US$2,721.7 million vs US$1,810.4 million

Gross Profit

US$1,090.7 million vs US$485.3 million or increased by $605mn (+125%)

Operating Expenses

US$159.5 million vs US$114.4 million or increased by 39%

Operating Income

US$931.2 million vs US$370.9 million or increased by 151%

- a positive swing of US$560.3 million

Operating Margin

Income before Tax

Total Income

Net Income For the Period Attributable to Owners of The Parent

sharp jump 24.4% vs 16.2%

US$788.3 million vs US$277.8 million or increased by 184% - a positive swing of US$510.5 million YOY

US$418.8 million vs US$90.9 million or increased by 361% - a positive swing of US$327.9 million YOY

US$167.7 million vs US$1.9 million or an increase by 8726% - a positive swing of US$ 165.8 million YOY

Page 1 of 4

Financial Highlights - 1H'22 vs 1H'21

1H'22 Revenue $3,812 million rises by $1,517 million YOY benefitting from a 92% rise in realized coal prices. This offsets the 14% and 16% lower output and sales volume - due to continuing La Nina continuous heavy rain conditions. Best efforts were made to control costs due largely to spiraling fuel prices.

Royalty increased from flat 13.5% in FY 21 to 14% on domestic sales and up to 28% on exports effective 1 January 22 - at subsidiaries KPC and Arutmin.

Operating Income still rose 151% to $931 million (vs $371 million YOY); Income before Tax $788 million (vs $278 million YOY).

Total Income after Tax rose to $419 million (vs $91 million YOY) of which attributable to Bumi is $168 million (vs just $2 million YOY) - an increase of 8726% vs 1H'21.

Operating Performance 1H'2022 vs 1H'2021

Overburden Removed (mbcm)

: 306 vs 284 - up 8% higher

Strip Ratio

: 8.9 vs 7.1

  • More coal exposed, less mined due rains.
  • In drier weather can step up

Coal Mined

: 34.5MT vs 40.1MT - decreased by 14%

Coal Sales

: 33.8MT vs 40.2MT - decreased by 16%

FOB Prices

: $108/t vs $56.2/t - increased by 92%

Inventory

: 2.1MT vs 1.9MT

The 16% drop in sales volume is more than offset by 92% increase in coal price - and reflected in the revenue increase by $1,517 million and resultant jump in 1H'22 revenue by 66%.

Overburden removed was 8% higher than 1H'21. However, coal mine and sales volume dropped due to La Nina phenomenon since Dec 2021. With drier weather can step up production.

Debt Payment

The Company on 12 July 2022 has paid a total US$731.3 million in cash consisting of Tranche A principal US$557.1 million and interest of US$174.2 million including accrued and back interest.

Acceleration of debt repayment is being accorded the highest priority.

FY 2022 Guidance - Current

Production

: 75MT - 83MT

Average forecast price

: US$ 120/t - USD 125/t

Production Cash Cost

: ca $45/t

Global Earnings Call - 1H'2022 Results

A global earnings call on our 1H'2022 results is planned. Once finalized, dial in details would be separately advised.

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

dileep@bumiresources.com

www.bumiresources.com

Page 2 of 4

Appendix - 1

Consolidated Income Statement 1H'2022 vs 1H'2021 - Including KPC & Arutmin

Page 3 of 4

Appendix - 2

Operational Summary (ON FULL BASIS) - Unaudited 1H'2022 vs 1H'2021

Page 4 of 4

Attachments

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Disclaimer

PT Bumi Resources Tbk published this content on 01 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2022 14:10:02 UTC.