PT Bayan Resources Tbk : Investor Updates 1Q26

About this update from Pt Bayan Resources Tbk

https://www.bayan.com.sg 0 Operationally, we achieved a slight increase in production in the 1Q26 compared to 1Q25. Overall, 1Q26 financial performance was higher than Budgeted across financial matrix. This is principally due to lower cash costs partially offset with lower sales volumes and slightly lower ASP than Budgeted which has led to higher EBITDA and NPAT. 1Q26 financial performance generated healthy margins and profit levels. 2024 2025 1Q25 1Q26 Financial Performance (In Million USD) Revenue 3,446.2 3,427.6 890.1 821.7 Gross Profit 1,332.8 1,106.3 315.2 267.1 EBITDA 1,355.0 1,160.9 327.5 285.6 Net Profit After Tax 943.4 784.1 223.0 195.5 Financial Ratios Gross Profit Margin (%) 38.7% 32.3% 35.4% 32.5% EBITDA Margin (%) 39.3% 33.9% 36.8% 34.8% Net Profit Margin (%) 27.4% 22.9% 25.0% 23.8% Net Debt to EBITDA (x) Net Cash Net Cash Net Cash Net Cash Operational Statistics Overburden Removal (MBCM) 257.5 305.2 69.9 75.7 Strip Ratio (x) - based on production volume 4.5 4.5 5.1 5.2 Coal Production (MT) 56.9 68.0 13.7 14.7 Sales Volume (MT) 56.2 70.8 17.2 16.4 Average Selling Price (US$/MT) 61.3 48.4 51.7 49.9 Average Cash Costs (US$/MT) 37.8 32.5 32.9 33.1 2025 Production Bayan is ranked 3rd by sales 80 74.8 Million Tonnes 70 68.7 68.0 60 50 40 30 20 10 0 54.9 47.2 30.5 21.2 volumes and production in Indonesia based on 2025 actual performance. Bayan's 2025 production and sales volumes increased by 20% and 26% over 2024 levels. Bumi Adaro Bayan GEMS PTBA Kideco ITMG Source: Company Filings, Company Data 2025 Sales Volume Muara Pahu's capacity was fully available in 2025 which has 45+ million MT. 80 74.6 71.9 70.8 Million Tonnes 70 60 50 40 30 20 10 0 54.2 45.4 30.8 24.7 This will allow Bayan to expand production at Tabang to more than 80 mtpa. Bumi Adaro Bayan GEMS PTBA Kideco ITMG Source: Company Fillings. Company Data Capex Intensity by Country (1) Tabang Capacity Growth The Muara Pahu barge loading facility which consist of 3 250 200 150 40+ 80+ …Unlocking tangible capacity upside at ~US$10/ton discretionary growth Capex 130 159 161 175 207 218 integrated lines of side dumps/crushers/conveyors and barge loaders were completed in the 1Q24. 100 50 0 2023 2024+ 50 10 13 23 85 65 71 96 98 110 All three barge loaders add an additional 45+ million MT to our existing capacity. Total expansionary capex in the region of US$ 460 million (2019- Source: Wood Macke...

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