Pt Amman Mineral Internasional Tbk · IDX:AMMN
Pt Amman Mineral Internasional Tbk — H1 2026 Earnings Presentation
24 slides from Pt Amman Mineral Internasional Tbk's earnings presentation, Sep 21, 2026
Slide 1: H1 2026 Audited Results
PT AMMAN MINERAL INTERNASIONAL TBK (AMMN) H1 2026 Audited Results 21 September 2026
Slide 2: Table of Contents
Table of Contents 1. H1 2026 Highlights Higher Sales Volumes and Favorable Prices Deliver Strong Cash Generation 2. Operating Performance Mining and Smelter Production Growth 3. Financial Performance Cost Control and Rapid Deleveraging 4. Guidance Improving Phase 8 Grades Drive Increased Metal Produ
Slide 3: Disclaimer
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Slide 4: H1 2026 Highlights
H1 2026 Highlights Higher Sales Volumes and Favorable Prices Deliver Strong Cash Generation
Slide 5: H1 2026 Summary
H1 2026 Summary • Higher production volumes, improved metal grades, and higher sales volumes – volume and grades will continue to improve • Favorable commodity price environment – expected to continue for medium term • Completion and Project Acceptance Certificate (PAC) for the Smelter on 24 July 20
Slide 6: Updated JORC Reserves
Updated JORC Reserves Batu Hijau mine life extended JORC estimates as of 31 Dec 20241 JORC estimates as of 30 Jun 20261 Grades Contained Grades Contained Total Total Cu Au Cu Au Cu Au Cu Au (Mt) (Mt) (%) (g/t) (Blb) (Moz) (%) (g/t) (Blb) (Moz) Stockpiles 254 0.32 0.11 1.78 0.92 Stockpiles 316 0.33 0
Slide 7: Audited Financial Summary
Audited Financial Summary Higher sales volumes and favorable prices deliver strong cash generation Net Sales EBITDA Net Income Debt and 2.4x Capex 55% US$mn US$mn margin US$mn Net Debt net debt-to- EBITDA US$mn US$mn 2,052 1,128 504 5,845 | 5,026 130 1,024% YoY 1,207% YoY 444% YoY 9% YTD 1
Slide 8: Production and Sales
Production and Sales Mining – Processing, and Smelting – Refining delivered both Production and Sales Growth Mining and Processing Smelting and Refining Copper in Gold in Copper Refined Concentrate H1 2026 Concentrate Concentrate Cathode Gold (kdmt) (Mlbs) (koz) (kt) (koz) 347 211 346 49 122 Product
Slide 9: Operating Performance
Operating Performance Mining and Smelter Production Growth
Slide 10: Completing New Facilities – Tapering Capex
Completing New Facilities – Tapering Capex Smelter and PMR completion in 2026 Total capital expenditure (US$mn) Processing plant expansion 867 925 • Expanded annual ore capacity to 719 653 85 million tonnes • Mechanical completion achieved Q2 130 • First ore through the new mill in H1 H2 H1 H2 H1 mi
Slide 11: Mining and Processing
Mining and Processing Phase 8 progressing to high grade ore, increasing volumes and recovery rates Concentrate production (dmt) Phase 8 mining began Jan 2025 444,143 347,307 310,940 254,907 191,657 H1 2024 H2 2024 H1 2025 H2 2025 H1 2026 Copper in concentrate (Mlbs) Gold in concentrate (koz) 89.5% 8
Slide 12: Smelting and Refining
Smelting and Refining Smelter and PMR performing consistently Copper cathode production First production March 2025 66% 53% 22% 60,044 48,756 19,805 H1 2025 H2 2025 1 H1 2026 1,2 Copper cathode production (tonnes) Smelter production rate (%) Refined gold production First production July 2025 52% 51%
Slide 13: Operating Costs: Fuel Prices & Smelter Ramp-up
Operating Costs: Fuel Prices & Smelter Ramp-up Materials mined – cost per tonne mined Processing mill – cost per tonne throughout Smelting and refining – cost per tonne produced 5.85 6.04 3,340 3.11 5.70 2.64 4.96 5.05 2.34 2.44 2.15 2,044 1,604 169 20 20 153 147 146 18 16 60,044 126 16 1 48,756 7 1
Slide 14: Financial Performance
Financial Performance Cost Control and Rapid Deleveraging
Slide 15: Smelter and PMR ramping-up during H1 2026
Smelter and PMR ramping-up during H1 2026 Favorable prices and strong cash generation Net Sales Net Income 2,052 31% 24% 25% 1,664 15% 1,549 311 1,115 454 663 479 504 404 779 686 624 587 163 183 231 770 492 429 355 H1 2024 H2 2024 H1 2025 H2 2025 H1 2026 (146) Copper in concentrate (US$mn) Gold in c
Slide 16: Leverage Ratio
Leverage Ratio Strong cash generation and rapid deleveraging EBITDA Leverage ratio 9.1 62% 58% 55% 5.4 2.5 2.4 47% 1.5 42% 1,128 6,432 959 971 6,050 5,845 677 1,002 819 4,285 3,784 467 754 1,333 5,756 5,048 5,026 3,531 86 2,451 H1 2024 H2 2024 H1 2025 H2 2025 H1 2026 H1 2024 FY 2024 H1 2025 FY 2025
Slide 17: Guidance
Guidance Improving Phase 8 Grades Drive Increased Metal Production Guidance
Slide 18: What to Expect in H2 2026
What to Expect in H2 2026 • Deliver on 2026 guidance • Focus on cost control as operations expand • Continuing debt repayment and leverage improvement • Smelter consistent operating performance – new performance records set in July – August • Major Project close out – LNG tank and ramping up new mil
Slide 19: 2026 Production Guidance
2026 Production Guidance Improving Phase 8 grades drive increased gold production guidance 2026 PRODUCTION GUIDANCE H1 2026 ORIGINAL REVISED CHANGE Concentrate (kdmt) 347 900 900 - Mining and Copper in concentrate (Mlbs) 211 485 485 - Processing Gold in concentrate (koz) 346 579 775 34% Smelting C
Slide 20: Elang “Super Giant” Project On Track
Elang “Super Giant” Project On Track Elang Mine FID 2027 Processing Plant Power Complex • Elang Final Investment Decision expected in 2027 Mine planning in progress JORC completed Q3 2026 • Batu Hijau mine life extended to 2031/2032, stockpile processing until 2033/2034 • Elang first ore 2031/20
Slide 21: Thank You
THANK YOU ww.ammen.coid AAA AMMAN THE COPPER MARK ED Arian Mineral GJ @AmmanMineral FZ] Cammanmineral J PT Amman Mineral nternasional Tok ffMJ PT Amman Mineral Nusa Tenggara $
Slide 22: Financial Highlights
Financial Highlights Production and sales data1 Financial results Units H1 2025 H1 2026 YoY (%) Units H1 2025 H1 2026 YoY (%) Mining operations Net sales US$mn 183 2,052 1,024% Concentrate EBITDA US$mn 86 1,128 1,207% Production dmt 191,657 347,307 81% Net income/(loss) US$mn (146) 504 444% Sales dm
Slide 23: Key Features of the Smelter and PMR
Key Features of the Smelter and PMR Copper cathode and refined gold meet LME1 and LBMA2 quality standards Copper Cathode Refined Gold Refined Silver KEY FEATURES OF THE SMELTER Annual smelter Annual smelter production blended feed: capacity: 900,000 220,000 tonnes tonnes of copper cathode with 99.
Slide 24: Copper and Gold Prices
Copper and Gold Prices Historical Copper Prices Forward Copper Prices 15,000 15,000 13,000 13,000 14,136 14,039 14,010 14,013 14,009 13,985 13,971 11,000 11,000 9,000 9,000 7,000 7,000 Jan-24 Jul-24 Jan-25 Jul-25 Jan-26 Aug-26 Q3 Q4 Q1 Q2 2027 2028 2029 2026 2026 2027 2027 Comex Copper (US$/t) LME 3
PT Amman Mineral Internasional — H1 2026 Earnings Presentation on 6ix