Pt Indika Energy Tbk · IDX:INDY
Pt Indika Energy Tbk — Q1 2026 Earnings Presentation
48 slides from Pt Indika Energy Tbk's earnings presentation, May 20, 2026
Slide 1: Company Update 3M26 Results
Company Update 3M26 Results PT Indika Energy Tbk. Jakarta, May 20, 2026
Slide 2: Indika Energy - To Energize Indonesia for a Sustainable Future
Indika Energy - To Energize Indonesia for a Sustainable Future An Investment Holding Company with portfolio spanning across Indonesia, from energy resources, logistic and infrastructure, minerals as well as green business. Well-placed to capture domestic economic growth and global economic recov
Slide 3: Indika Energy has set out bold aspirations as part of its ESG commitment
Indika Energy has set out bold aspirations as part of its ESG commitment 50% Net-Zero emissions by 2050 non-coal revenue by 2028 Notable green initiatives: A leading Indonesian One of The 1st Indonesian One of The 1st Indonesian Investment group company to commit to a Net investment groups Zero targ
Slide 4: Operational Performance – 2026
Operational Performance – 2026* 2026 2026 Budget 3M26A Realized Operational Data Guidance 3M26A 3M25A YoY% CAPEX** (US$M) (US$M) % Budget Kideco 9.8 0.0 0.0% KIDECO Interport 18.4 0.8 4.3% Production (MT) 30.3 7.5 7.4 1.4% IMP 1.7 0.1 5.9% Newcastle Benchmark ($/ton) 111.0 119.6 104.7 14.2% Tripatra
Slide 5: Indika Energy’s Consolidated Income Statement Highlights
Indika Energy’s Consolidated Income Statement Highlights Year To Date Summary P&L 1Q26 1Q25 YoY 4Q25 QoQ 3M26 3M25 YTD YoY Revenues 493.2 489.6 0.7% 587.9 -16.1% 493.2 489.6 0.7% COGS (419.2) (425.9) -1.6% (511.4) -18.0% (419.2) (425.9) -1.6% Gross Profit 74.0 63.7 16.2% 76.6 -3.3% 74.0 63.7 16.2% S
Slide 6: Business Highlights – Revenue Contribution
Business Highlights – Revenue Contribution Non-coal revenue grew 22.4% YoY to US$113.3m in 3M26 Revenue 3M26 Revenue 3M25 Non-coal Non-coal 18.0% 21.9% 3,0% 2,1% 5,2% Kideco 1,1% 0,4% 12,0% 2,8% Other Coal 13,3% Tripatra 5,8% Interport-Ex Cotrans 4,4% Minerals & IIR Non-coal 5,3% Green Bus & Oth 13,
Slide 7: 3M26 Business Highlights – Revenue Breakdown
3M26 Business Highlights – Revenue Breakdown 3M26 3M25 Subsidiaries YoY Chg Remarks (US$ mn) (US$ mn) FOB ASP ▼ 1.7% to US$51.1/ton in 3M26 compare to US$52.0/ton in 3M25, Sales Volume Kideco 377.4 400.1 -5.7% ▼ 4.1% to 7.0MT in 3M26 (ICI-4: US$52.8/ton in 3M26 vs US$49.3/ton in 3M25) Coal Trading:
Slide 8: 3M26 Business Highlights- Gross Profit/ Margin
3M26 Business Highlights- Gross Profit/ Margin 3M26 3M25 Subsidiaries YoY Change Remarks (US$ mn) (US$ mn) Gross Profit 74.0 63.7 16.2% Gross Margin (%) 15.0% 13.0% FOB ASP ▼ 1.7% to US$51.1/ton in 3M26 compare to US$52.0/ton in 3M25, Sales Volume ▼ 4.1% to 7.0MT in 3M26; Cash cost inc Royalty ▼ Kid
Slide 9: Active Liability Management to lengthen maturity
Active Liability Management to lengthen maturity 3 May 2024: the 2024 Notes was fully repaid bank loan with Debt maturity profile at HoldCo facility of US$300m US$m 720 7 May 2024: the settlement of the new notes US$350m 3 July 2024: Tap issuance of US$105m, the company settled the tender offe
Slide 10: Strong Cash Position supports sound Balance Sheet
Strong Cash Position supports sound Balance Sheet Total Consolidated Cash Total Consolidated Debt US$m US$m 898 1,062 1,081 1,096 863 1,056 1,045 1,004 Other Loans 638 617 Cash & 585 608 609 Bank Loans 1) 579 572 561 594 Other 520 Financial assets Notes 2024 0 Notes 2025 455 455 455 455 455 455 Note
Slide 11: Thermal Coal Price (2024 – Mar 2026, US$/t)
Thermal Coal Price (2024 – Mar 2026, US$/t) • The U.S.–Iran conflict and the closure of the Strait of Hormuz have contributed to higher coal prices, which have increased by more than 15% compared to pre-war levels. • Asian LNG prices rose above $20/MMBtu, up 90% from pre-war levels. Meanwhile, TTF p
Slide 12: Our Diversified Business Portfolio
Our Diversified Business Portfolio 12
Slide 13: Indika Energy has developed into an investment company with a sustainable business portfolio
Indika Energy has developed into an investment company with a sustainable business portfolio Logistics & Logistic assets, EPC services, infrastructure, e.g. fuel storage Field exploration of coal resources, Energy Infrastructure production and trading resources Exploration of gold and other metals M
Slide 14: Diversification Investments – Minerals
Diversification Investments – Minerals Developing Gold Asset Project through Masmindo (Awakmas) Infrastructure: • Luwu Regency, South Sulawesi • Project located 45 km from coast • Good access to roads, two ports, airport, and telecommunication • Project to be powered by grid power Concession : • Tot
Slide 15: Diversification Investments – Minerals
Diversification Investments – Minerals Large concession area – currently only 10% being developed Awak Mas Gold Project – Contract of Work 15
Slide 16: Diversification Investments – Minerals
Diversification Investments – Minerals Awak Mas Project • Gold ore reserve of 1.9 Moz and gold ore resources of 3.29 Moz (based on latest reserve report February 2026 by Mining One) • Open pit mining with drilling and blasting • Has signed refinancing agreement with total funding of US$375 million f
Slide 17: Diversification Investments – Minerals
Diversification Investments – Minerals Construction Progress Project cost incurred as of Mar 2026 as of Mar 2026 288 57% USD million Land Compensation Total project cost up to Progress completed 99% 568 USD million 17
Slide 18: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 18
Slide 19: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 19
Slide 20: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 20
Slide 21: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 21
Slide 22: Diversification Investments – Minerals: Bauxite Mine
Diversification Investments – Minerals Bauxite Mine • Bauxite mine in W. Kalimantan • Est. Reserve: 5.7 WMT • Est. Resources: 30 WMT • Strategic partnership with Nanshan Aluminium International Holding (2610 HK) Mekko – Bauxite Volume kDMT ASP (US$/t) 500.0 24.2 24.5 454.2 450.0 23.6 24.0 400.0 23.5
Slide 23: Green Business - Aims to accelerate Indonesia’s EV ecosystem
Green Business - Aims to accelerate Indonesia’s EV ecosystem PT Indika Energy Tbk Other IMG Investors 100% PT Solusi Mobilitas Indonesia Holding of EV Company 100% 100% 100% PT Ilectra Motor Group PT Mitra Motor Group PT Kalista Nusa PT Industri Baterai Armada Holding of Electric 2 Holding of Electr
Slide 24: Kalista - Developing trials for a fleet-as-a-service model
Kalista - Developing trials for a fleet-as-a-service model, working with local governments and bus operators About Kalista’s FaaS model Kalista’s operation and trials with local governments The fleet-as-a-service business model enables Operation : Medan governments, public, and private businesses to
Slide 25: Kalista - To accelerate adoption of EV in Indonesia
Kalista - To accelerate adoption of EV in Indonesia • To separate between ownership and maintenance from operator • Developing fleet-as-service model to accelerate transition to EV, through B2B, B2G as well as public • Usage based on monthly rental, to ease burden of CAPEX • Current segment target i
Slide 26: IMG launched its brand “ALVA” with its own manufacturing facilities
IMG launched its brand “ALVA” with its own manufacturing facilities and builds experience center Manufacturing Facilities The E2W market in Indonesia is expected to grow steadily, with the premium and mid-range segments gaining momentum • ALVA has launched the ALVA One and CERVO models (premium segm
Slide 27: IMG already introduced 5 ALVA products
IMG already introduced 5 ALVA products Products ALVA One ALVA One XP Launched in 2022 Launched in 2023 ALVA Cervo ALVA Cervo Boost Charge ALVA Cervo Q Launched in 2023 Launched in 2024 Launched in 2024 27
Slide 28: Launched a new model in Mid segment “ALVA N3”
Launched a new model in Mid segment “ALVA N3” • ALVA introduced a new model in mid-segment called ALVA N3 • Pricing is competitive compared to market • N3 already adopts boost-charge technology in its battery, capable for 1-hour fast charging 28
Slide 29: Diversification Investments – Green Businesses
Diversification Investments – Green Businesses Indika Nature – Biomass, Agroforestry, Carbon Offset Energy Plantation Environment Services Agroforestry & Non Timber Forest Product • Designated for planting Calliandra trees to • Process of obtaining a carbon credit • Develop agricultural products tha
Slide 30: Indika Nature – Expanding to essential oil business
Indika Nature – Expanding to essential oil business Indika Nature acquired 100% shares in PT Natura Aromatik Nusantara An essential oil producer with the fourth largest exporter in Indonesia located in Solo, Central Java Sector attractiveness due to its traditionality and Products fragmented players
Slide 31: Indika Nature – Biomass Energy to produce wood pellet
Indika Nature – Biomass Energy to produce wood pellet DIVA Jaya Bumi Paser 23,590 Ha East Kalimantan Diva Perdana Pesona 29,485 Ha East Kalimantan TMK • Currently in phase I with total TCG planting of 5,000 ha • With average calorific value of 4,200–4,750 kcal/kg, wood pellet is suitable for biomass
Slide 32: Indika Nature – Carbon Business at TMK to support Net Zero Target
Indika Nature – Carbon Business at TMK to support Net Zero Target Location Project Overview • PT Telaga Mas Kalimantan (TMK) is the holder of Forest Concession Rights (IUPHHK-HA (now PBPH) with an area of 82,805 ha, located in Paser Regency, E. Kalimantan Block A • The area is dominated by Meranti t
Slide 33: Our MSCI rating has been upgraded to A
Our MSCI rating has been upgraded to A Driven by improvements in our environmental and governance practices MSCI ESG score 2025 score: A (previously BBB) AAA AA Indika Energy has achieved a rating upgrade in MSCI from BBB to A. The improvement A A reflects our progress in managing carbon BBB BBB BBB
Slide 34: ESG performance – 3M26 vs 2030 target
ESG performance – 3M26 vs 2030 target Parameter Unit % target ∆ 2030 Target 3M26 Scope 1 & 2 GHG emissions ktCO2eq -33% 806 195.85 tCO2eq / ton coal production -25% 0.025 0.025 GHG emissions intensity* tCO2eq / USD million revenue -55% 356 397.09 Renewable energy mix % - 35% 38.87% Water withdrawal
Slide 35: 3M 2026 – Environmental Performance
3M 2026 – Environmental Performance Scope 1 and 2 GHG emissions GHG emissions intensity GHG emissions intensity ktCO2eq tCO2eq / ton coal production tCO2eq / million USD revenue ENVIRONMENTAL HIGHLIGHT 0.033 792 Overall, Q1 2026 total emissions were 1,203 195.85 ktCO2eq, down 10.8% from Q1 0.027 0.0
Slide 36: 3M2026 – Social Performance
3M2026 – Social Performance SOCIAL HIGHLIGHT We continue to strengthen safety and Fatality in managed operations Diversity and inclusion recorded zero fatalities in Q1 2026. While we lives % achieved our 2025 women representation target, further progress is needed to reach our 2030 target. 0 20.32%
Slide 37: Mangrove plantation IMPACT program
As of 2025, 250 hectares has been planted with mangrove plantations out of total area of 250 hectares to be planted during the project lifetime (2023- Launched in March 2023 in Paser Regency, East 2025). Kalimantan, the IMPACT program represents Indika Energy’s strong commitment to supporting As of
Slide 38: We also expanded our network by joining ESG-related associations
We also expanded our network by joining ESG-related associations Overview Overview The UN Global Compact is a conviction rooted in universal Indonesia Business Council for Sustainable Development principles to help the global marketplace to be more socially and (IBCSD) is a CEO-led association of co
Slide 39: Notes Outstanding
Notes Outstanding B1 Stable Outlook (as of 12 February 2026) The Senior Notes are rated: B + / Stable Outlook International Ratings (as of 27 March 2026) Indika Energy Tbk. USD455 mn 8.750% 5-year Senior Notes Reg S / 144A due 2029 May 2024 39
Slide 40: Thank You
INDIKA, | NET-ZERO% Thank You 40
Slide 41: Indika Energy’s Financial Highlights
Indika Energy’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 4500.0 4,334.9 1600 1400 1,450.8 1,210.1 3600.0 1200 1050 3,026.8 2700.0 2,446.7 2,030.9 800 700 1800.0 552.0 312.2 400 332.7 350 900.0 270.3 493.2 158.1 114.4 74.1 37.5 0.0 0 0 2022 2023 2024 2025
Slide 42: Kideco – Leading Coal Producer in Indonesia
Kideco – Leading Coal Producer in Indonesia • Leading coal producer in Indonesia • Environmental-friendly thermal coal with ultra-low Sulphur of 0.1% and low ash of (2.1% to 4.9%) • Attractive location with well-built infrastructure, and integrated value chain within the group, allowing for strong c
Slide 43: Kideco’s Financial Highlights
Kideco’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 3,200 3,008.8 1350 1350.0 1,222.7 1,126.9 1080.0 1080 2,400 2,223.3 1,848.1 810.0 810 1,611.7 1,600 540.0 540 411.4 800 263.9 307.4 241.5 377.4 270.0 270 186.6 170.7 71.4 54.3 0 0.0 0 2022 2023 2024 2025
Slide 44: Kideco’s Operational Highlights
Kideco’s Operational Highlights Cash Cost Breakdown Coal Production (mn ton) Coal Sales (mn ton) O/H Labor & Others 40 10.0% 2.2% 40 34.8 34.8 35 35 30.5 31.1 30.8 30.1 30.7 30.5 Freight 30 30 6.4% 25 25 CM & Rental 52.2% 20 20 Material 15 15 10.7% 10 7.5 10 7.0 5 5 0 Gov. Royalty 2022 2023 2024 202
Slide 45: Kideco’s Operational Highlights
Kideco’s Operational Highlights 45
Slide 46: Tripatra’s Financial Highlights
Tripatra’s Financial Highlights Revenue (USD mn) Gross Profit (USD mn) Net Profit* (USD mn) 400.0 30.0 15.0 25.1 8.9 25.0 22.1 10.0 306.6 3.1 20.0 5.0 (29.3) (3.5) 300.0 250.6 242.8 15.0 0.0 228.6 10.0 -5.0 200.0 18.4 -10.0 5.0 1.7 (11.6) -15.0 0.0 -20.0 100.0 68.7 -5.0 -25.0 -10.0 -30.0 1.5 0.0 -15
Slide 47: Indika Resources’ Financial Highlights
Indika Resources’ Financial Highlights Revenues (USD mn) Cost of Good Sold (USD mn) Gross Profit (USD mn) 900 852.7 700 660.2 220 192.6 800 600 700 176 500 600 132 500 439.4 400 359.5 400 300 79.9 88 300 184.8 190.1 200 200 44 100 72.8 75.2 100 12.6 5.3 13.0 2.3 0.4 0 0 0 2022 2023 2024 2025 3M26 20
Slide 48: Interport’s Financial Highlights
Interport’s Financial Highlights Revenues (USD mn) Revenue Breakdown Gross Profit (USD mn) Others, 35 32.4 32.2 160 31.8 3.0% 134.5 30 140 114.6 116.0 25 120 Cotrans 100 KGTE & 20 37.9% PGE 57.7% 80 14.2 15 60 43.2 10 8.2 40 34.7 5 20 IBP 0 3.2% 0 2022 2023 2024 2025 3M26 2022 2023 2024 2025 3M26 Ne