Cokal Limited · ASX:CKA
Cokal — Investor Presentation (August 2026)
21 slides from Cokal's investor presentation, Aug 13, 2026
Slide 1: Investor Presentation August 2026
For personal use only AUGUST 20 26
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer This presentation has been prepared by Cokal Limited (the Company or CKA). The information contained in this presentation is a professional opinion only and is given in good faith. The material in this presentation (“material”) is not and does not constitute an o
Slide 3: Agenda
Agenda 1 For personal use only Assets , Background & Market Overview 2 Key Highlights 3 BBM – Production, Infrastructure & Underground Update 4 TBAR – Geological Model, Drilling Exploration & Budget 5 BBM West Block – Data Summary & Exploration Plan
Slide 4: Capital Structure and Market Snapshot
COKAL | Capital Structure and Market Snapshot ASX-listed metallurgical coal developer — key market metrics For personal use only A SX C O D E SH A RE S O N I SSU E SH A RE P R IC E CKA A$0.06 1,078.9m as at 12th August 2026 M A RK ET C A P N ET DEB T EN T ER P RI SE V A L UE A$64.7m A$47m A$111.7m 1
Slide 5: Indonesian Metallurgical Coal Platform
COKAL | Indonesian Metallurgical Coal Platform 52,000+ ha | 4 metallurgical coal assets + integrated logistics | Central Kalimantan COKAL LIMITED For personal use only ASX: CKA BBM TBAR BSN BBP AAK 60% 75% 60% 75% 100% 14,980 ha 18,850 ha Logistics FL A GS HIP DE V EL O P M EN T 13,050 ha 5,000 ha E
Slide 6: Strong Shareholders. Strategic Partners. Proven Execution.
COKAL | Strong Shareholders. Strategic Partners. Proven Execution. A strategic ecosystem positioned to accelerate BBM from development to scaled production COKAL LIMITED For personal use only ASX: CKA L O N G- T E RM A L IGN E D S T RA T E G IC IN DO N E SI A N S HA R EH O L DE RS G L OB A L M E T C
Slide 7: Management Overview
Management Overview BBM 2 0 26 | EX EC U TI O N D ESP IT E IN DU ST RY - WI DE R KA B C O N ST RA I N TS Ramp-up under mining contractor; haul road upgrade with For personal use only Petrosea underway C ONTEXT Nationwide RKAB overhaul The Indonesian Government overhauled RKAB approvals in 2026, mate
Slide 8: June Quarter 2026 – Key Highlights
June Quarter 2026 – Key Highlights Quarterly report for the twelve months ending 30 June 2026, released 31 July 2026 BBM | Key Milestones Delivered For personal use only Revised RKAB 2026 RKAB A P P RO V E D A P P RO V E D Additional 2026 production allocation secured (post quarterly release Mining
Slide 9: BBM Mining Operations
BBM MINING OPERATIONS BB M | P RO D UC T IO N RA M P - U P For personal use only C Y2 02 6 2 02 7+ P ERM ITTE D Q 1 20 27 60–80kt 1.0Mtpa 6.0Mtpa¹ RKAB-constrained Fleet uplift Production ramp-up Approved capacity production; mining fleet Additional mining fleet towards the near-term underpinning lo
Slide 10: BBM 3-Year Production Plan (2026–2028)
BBM 3-Year Production Plan (2026–2028) Coking coal ramp-up with PCI product introduced from 2028 SALEABLE PRODUCTION BY YEAR (Kt) 900 Production Plan 2026 (Y01) 2027 (Y02) 2028 (Y03) 800 For personal use only OB Coking (bcm) 1,530,000 13,503,911 22,496,316 55 700 Coal Coking (t) 60,000 522,183 830,0
Slide 11: Strategic Infrastructure – Mine-to-Market Platform
Strategic Infrastructure | Building the Mine-to-Market Platform – Infrastructure Update Additional activities report – May 2026 P O R T L O G I S T I C S C O R R ID O R 96km pit-to-port haul road For personal use only 52km ALL-WEATHER HAUL ROAD 1 Currently accessible with further development and upg
Slide 12: BBM Underground Mining – Preparation Update
BBM Underground Mining – Preparation Update A NEW PRODUCTION PLATFORM TO SUPPORT BBM'S LONG-TERM GROWTH UNDERGROUND MINING | NEXT PHASE OF BBM GROWTH TRANSACTION RECAP For personal use only PARTNERSHIP PT Cipta Bersama Indonesia Tbk (CBI) — underground operation at Pit 1 of BBM, at zero cost to Coka
Slide 13: TBAR Initial Geological Model, Potential Deposit & Target Drilling
For personal use only SEC TION TBAR Initial Geological Model, Potential Deposit & Target Drilling Exploration Cokal 75% interest and project manager | 18,850 ha contiguous to BBM | Exploration plan August 2026
Slide 14: TBAR – Initial Geological Model
TBAR – Initial Geological Model ▪ Based on outcrop data, coal outcrops with thickness > 1m are interpreted as a single target seam similar to seam J in BBM, distributed from west to east and north-east. For personal use only ▪ 13 outcrops have been modelled; the model is built with a “normal” struct
Slide 15: TBAR – Drill Plan Open Pit
TBAR – Drill Plan Open Pit Open hole drilling, coring and geophysical logging – all holes suitable as points of measurement for JORC Resource estimation; drilling to commence once IPPKH exploration approvals are obtained For personal use only
Slide 16: TBAR – Initial Pitshell Optimisation & Coal Structure
TBAR – Initial Pitshell Optimisation & Coal Structure OPT Waste MBcm Coal MTon SR SCC050 18.24 1.2 14.98 For personal use only SCC040 25.07 1.5 17.13 SCC030 33.22 1.7 19.42 SCC020 40.11 1.9 21.16 SCC010 49.06 2.1 23.30 SCC000 65.67 2.5 26.71 SCC-010 74.84 2.6 28.42 SCC-020 91.32 2.9 31.26 SCC-030 10
Slide 17: TBAR – Additional Underground Exploration Drillplan
TBAR – Additional Underground Exploration Drillplan For personal use only
Slide 18: BBM West Block
For personal use only SEC TION BBM WEST BLOCK Exploration Data Summary & Forward Plan — August 2026 West Block 6,983 ha of the 14,980 ha BBM IUP | 86 coal outcrops identified
Slide 19: BBM West Block – Block Area & Geological Setting
BBM West Block – Block Area & Geological Setting KEY HIGHLIGHT — STRATEGIC JV OPPORTUNITY BBM is in discussions with a leading Indonesian conglomerate regarding a potential strategic joint venture to develop and operate the BBM West Block. The proposed partnership is aimed at accelerating developmen
Slide 20: BBM West Block – Coal Quality & Exploration Plan
BBM West Block – Coal Quality & Exploration Plan EXPLORATION PLAN ▪ Apply for the IPPKH exploration permit – the area is located on Restricted Production Forest; IPPKH exploration period is 2 years. For personal use only ▪ Topographic mapping across the West Block. ▪ Exploration drilling program for
Slide 21: Cokal Ltd
Cokal Ltd For personal use only SYDNEY JAKARTA Level 5, 56 Pitt Street The Bellezza Office Tower, 21 Floor, Unit 3 & 5 Sydney NSW 2000, Australia Arteri Permata Hijau, Jalan Mayjen Soepeno Kav 34 Domenic Martino — DMartino@cokal.com.au Permata Hijau, Kebayoran Lama Jakarta Selatan 10210, Indonesia K