PT Bayan Resources Tbk : Investor Updates 4Q25

About this update from Pt Bayan Resources Tbk

https://www.bayan.com.sg 0 Operationally, 2025 has seen significant improvement over the same period last year with an approximate 20-26% increase in coal production and sales volume. Overall, 2025 financial performance was lower than Budgeted across all financial matrix. This is principally due to lower market prices than Budgeted which has led to lower realized ASP, EBITDA and NPAT. Despite this, 2025 financial performance still generated healthy margins and profit levels. 4Q24 4Q25 2024 2025 Financial Performance (In Million USD) Revenue 976.6 987.7 3,446.2 3,427.6 Gross Profit 418.1 332.9 1,332.8 1,106.3 EBITDA 434.8 355.6 1,355.0 1,160.9 Net Profit After Tax 308.3 250.3 943.4 784.1 Financial Ratios Gross Profit Margin (%) 42.8% 33.7% 38.7% 32.3% EBITDA Margin (%) 44.5% 36.0% 39.3% 33.9% Net Profit Margin (%) 31.6% 25.3% 27.4% 22.9% Net Debt to EBITDA (x) Net Cash Net Cash Net Cash Net Cash Operational Statistics Overburden Removal (MBCM) 63.3 81.4 257.5 305.2 Strip Ratio (x) - based on production volume 3.7 4.1 4.5 4.5 Coal Production (MT) 16.9 19.7 56.9 68.0 Sales Volume (MT) 16.1 21.3 56.2 70.8 Average Selling Price (US$/MT) 60.6 46.3 61.3 48.4 Average Cash Costs (US$/MT) 34.1 30.0 37.8 32.5 YTD 3Q25 Production Bayan is ranked 3rd by sales 60 54.9 51.5 Million Tonnes 50 40 30 20 10 0 48.3 35.9 22.2 15.4 volumes and production in Indonesia based on YTD 3Q25 actual performance. Bayan's YTD 3Q25 production and sales volumes increased by 21% and 23% over YTD 3Q24 levels. Bumi Adaro Bayan PTBA Kideco ITMG Source: Company Filings, Company Data YTD 3Q25 Sales Volume Muara Pahu's initial capacity was fully available in 2025 which has 45+ million MT and beyond. 60 54.5 52.7 49.5 Million Tonnes 50 40 30 20 10 0 33.7 22.2 17.9 This will allow Bayan to expand production at Tabang to more than 80 mtpa. Bumi Adaro Bayan 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 loader were complete in the 1Q24. 100 50 0 2023 2024+ 50 10 13 23 85 65 71 96 98 110 All three barge loaders will add an additional 45+ million MT to our existing capacity. Total expansionary capex in the...

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