Slide 1: Bayan for Charity event Q4 2023
The first Bayan for Charity event in Q4 2023 www.bayan.com.sg 0
Slide 2: Overview
Overview ➢ Operationally 1H 2024 has slightly improvement over the same period last year as production and sales volumes have increased. ➢ Overall 1H 2024 financial performance was higher than Budgeted across all financial matrix. This is principally due to lower cash costs than Budgeted. ➢ 1H 2024
Slide 3: Bayan's Financial and Operational Performance
Bayan’s Financial and Operational Performance 2023 1H23 1H24 2Q23 2Q24 Financial Performance (In Million USD) Revenue 3,581.4 2,039.2 1,534.0 990.2 764.9 Gross Profit 1,664.2 1,063.5 582.3 471.1 270.2 EBITDA 1,718.9 1,009.1 573.1 425.3 251.0 Net Profit After Tax 1,279.6 762.4 387.2 313.9 169.9 Finan
Slide 4: One of the Largest Coal Producers
One of the Largest Coal Producers 1Q24 Production ➢ Bayan is ranked 3rd by production 25 and 4th by sales volumes in 20 19.5 18.1 Indonesia. Million Tonnes 15 14.0 12.9 ➢ Bayan’s 1H 2024 production and 10 7.3 7.0 4.9 sales volumes increased by 6% and 5 3% over the same period last year. 0 Bumi Adaro
Slide 5: Low Cost Incremental Growth
Low Cost Incremental Growth Capex Intensity by Country (1) Tabang Capacity Growth ➢ Our new coal haul road and the 250 80+ …Unlocking tangible capacity 207 218 first and second barge loading 200 40+ upside at ~US$10/ton discretionary growth Capex 175 facility were completed at the end 150 159 161 13
Slide 6: One of the Lowest Cost Producers in Indonesia
One of the Lowest Cost Producers in Indonesia Global Cost Competitive Positioning ➢ Tabang is independently rated as one of the worlds lowest cost energy-adjusted producers of seaborne thermal coal. ➢ Tabang has large reserves and a very low Life of Mine stripping ratio of 4.3. ➢ A new JORC reserves
Slide 7: And One of the Highest Margin Producers in Indonesia
And One of the Highest Margin Producers in Indonesia 1Q24 EBITDA Margin ➢ Over the last few years, Bayan 50% has transformed itself into one of 42% 42% 40% the highest margin producers in 34% Indonesia. 30% 20% 17% 16% 13% ➢ This is due to the ramp up of its 10% world class Tabang coal complex, 4% w
Slide 8: Deleveraged the Group
Deleveraged the Group Quarterly Net Cash US$ Million ➢ Targeted net leverage of less than 2,000 1,827 2.5x EBITDA throughout the commodity cycle. 1,500 1,325 1,219 ➢ Bayan has been re-assigned 1,000 620 independent credit ratings of Ba2 500 335 by Moody’s in January 2024. 241 309 259 229 0 2Q22 3Q22
Slide 9: Dividends
Dividends ➢ Bayan has a proven history of utilizing cash to reduce leverage and then return excess cash to shareholders. ➢ Bayan has paid a total of US$ 3,900 million in dividends over the last four years (the highest of any Indonesian listed coal company). ➢ Its payout ratio over the same period is
Slide 10: 2Q 2024
2Q 2024 Overburden Removal Coal Production Weighted Average Strip Ratio Average Cash Costs Coal Sales Average Selling Price Committed & Contracted Sales EBITDA Debt and Cash Position Capital Expenditure 9 www.bayan.com.sg
Slide 11: Overburden Removal (OB)
Overburden Removal (OB) (million BCM) 80 ➢ 2Q24 OB of 60.9 million BCM was 67.5 62.0 60.9 lower than the Budget and slightly 60 52.4 lower than 1Q24 primarily due to: 40 • Decrease of OB productivity at Tabang due to: 20 ✓ Delayed arrival of dump trucks. 0 2Q23 1Q24 2Q24B 2Q24 ✓ Narrow working areas
Slide 12: Coal Production
Coal Production (million MT) 16 14.0 13.6 ➢ 2Q24 coal production of 11.6 million 11.6 MT was lower than the Budget and 12 11.6 1Q24 primarily due to: 8 • Decreased of coal production at Tabang due to a voluntary 4 suspension of coal excavation due to our high inventory levels. 0 • Higher rainfall th
Slide 13: Weighted Average Stripping Ratio (SR)
Weighted Average Stripping Ratio (SR) 6 5.3 5 5.0 4.5 4.4 ➢ 2Q24 weighted average stripping 4 ratio was higher than the 3 Budget and 1Q24 primarily due to: 2 • Higher coal inventory levels which allowed site to reduce 1 coal production volumes (and 0 hence increase the SR). 2Q23 1Q24 2Q24B 2Q24 Note
Slide 14: Average Cash Costs (Budget vs Actual)
Average Cash Costs (Budget vs Actual) 46.4 49 42.2 ➢ 2Q24 Cash Costs were lower than the 42 Budget due to: 35 • Lower overburden costs primarily (US$ / MT) 28 due to shorter than Budgeted 21 overhaul distance and lower fuel prices. 14 • Lower royalty than Budgeted due to 7 lower ASP combined with lo
Slide 15: Average Cash Costs (2Q24 vs 1Q24)
Average Cash Costs (2Q24 vs 1Q24) 60 ➢ 2Q24 Cash Costs of US$ 42.2/MT were 46.9 higher than the 1Q24 of US$ 37.3/MT 50 42.2 principally due to: 37.3 (US$ / MT) 40 • Higher employee costs due to final 30 payment of bonus. 20 • Higher cost of coal purchased due to significantly higher quantity of coal
Slide 16: Coal Sales (by volume)
Coal Sales (by volume) 16 (million MT) ➢ 2Q24 coal sales volumes of 12.4 12.2 12.5 12.4 12 12.2 million MT were in line with the Budget and the 1Q24. 8 4 ➢ Group inventory levels increased to 8.2 million MT as at the end of June 0 2024. 2Q23 1Q24 2Q24B 2Q24 Note : B stands for Budget Figure ➢ Quarte
Slide 17: Coal Sales (by volume) (continued)
Coal Sales (by volume) (continued) Geographic Distribution (1H24) – by Volume ➢ The Company is focusing on Per Region Per Country continuing to build its long term South Korea contracts within Indonesia and with 5% Others other South East Asian IPP’s. Malaysia 6% East Asia 5% Domestic 20% 25% Philip
Slide 18: Average Selling Price (ASP)
Average Selling Price (ASP) 90 80 81.0 ➢ 2Q24 ASP of US$ 61.8/MT was in line with the Budget of US$ 62.6/MT but 70 slightly lower than 1Q24 of US$ 62.8/MT. 62.8 61.9 (US$ / MT) 61.8 60 50 40 30 20 10 0 2Q23 1Q24 2Q24B 2Q24 * ASP includes coal and non-coal sales Note : B stands for Budget Figure ASP
Slide 19: EBITDA
EBITDA US$ Million 500 425.3 ➢ 2Q24 EBITDA of US$ 251.0 million 400 was higher than the Budget of 322.1 300 US$ 202.1 primarily due to lower 251.0 202.1 cash costs. 200 100 ➢ 2Q24 EBITDA was lower than 1Q24 of US$ 322.1 million due to higher cash 0 2Q23 1Q24 2Q24B 2Q24 cost combined with slightly lo
Slide 20: Total Debt and Cash Position
Total Debt and Cash Position 800 ➢ At 30 June 2024 the Company had 735.0 outstanding loans of US$ 80.0 million. 700 ➢ On 8 July 2024, the Company drew (in million US$) 600 down a total of US$ 200 million of it WCF to improve BR’s cash position. 500 471.3 400.0 399.2 ➢ Working capital facilities of 4
Slide 21: Capital Expenditure
Capital Expenditure ➢ 2Q24 Capex was US$ 30.9 million, which 90 was significantly lower than the Budget primarily due to the timing delay in 78.3 80 certain projects such as contractor’s camp 71.3 70 67.8 and facilities, BCT expansion, river diversion, riverbank protection at Senyiur 57.6 60 and the
Slide 22: Appendix
Appendix PT Perkasa Inakakerta PIK PT Teguh Sinarabadi TSA PT Firman Ketaun Perkasa FKP PT Wahana Baratama Mining WBM PT Brian Anjat Sentosa BAS PT Bara Tabang BT Tabang PT Fajar Sakti Prima FSP PT Dermaga Energi DE North PT Tanur Jaya TJ Pakar PT Tiwa Abadi TA PT Silau Kencana SK PT Orkida Makmur O
Slide 23: Appendix
Appendix Kangaroo Resources Pty Ltd KRL PT Dermaga Perkasapratama DPP PT Indonesia Pratama IP PT Muji Lines Muji PT Bayan Energy BE PT Metalindo Prosestama MP PT Sumber Aset Utama SAU PT Karsa Optima Jaya KOJ PT Gunungbayan Pratamacoal GBP PT Kariangau Power KP 22 www.bayan.com.sg
Slide 24: Disclaimer
Disclaimer This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan Resources Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are base
Slide 25: Thank You
Thank You 24 www.bayan.com.sg