Overall financial performance as at YTD June 2017 better than YTD June 2016 and the Budget. YTD June YTD June 2017 Budget

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2 Executive Summary Overall financial performance as at YTD June 2017 better than YTD June 2016 and the Budget (in million USD) YTD June 2016 YTD June 2017 Budget YTD June 2017 Actual Revenue (1) % Gross Profit (1) % Gross Profit Margin 29% 39% 51% 29% Var 1) Revenue, Gross Profit include coal and non-coal sales ; YTD June 2016 YTD June 2017 Budget YTD June 2017 Actual Var Sales Volume (milion MT) % Coal Production (million MT) % Average Selling Price (US$/MT) (1) % Average Cash Costs (US$/MT) (2) % 1) Average Selling Price includes coal and non-coal sales ; 2) Average Cash Costs include Royalty, Barging, SGA; Overall sales volumes at YTD June 2017 were higher than the Budget mainly due to increased production at Tabang. Actual ASP was higher than the Budget as market prices remained above the Budgeted levels. 1

3 Executive Summary - continued Sales volumes 2Q17 was 4.7 million MT which was higher than 1Q2017 and the Budget of 4.2 million MT mainly due to increased production at Tabang. 2Q17 Coal Production achieved was 4.3 million MT which was principally in line with the Budget of 4.3 million MT. However, it was higher than 1Q17 mainly due to the relocation of our contractor at Tabang to low strip areas during the quarter in order to better match production and trucking capacity, earlier commencement of mining at Wahana and the arrival of additional mining fleets at PIK. 2Q17 SR was 3.9:1 which was principally in line with 1Q17 (3.8:1) and the Budget of 3.9:1. 2

4 Executive Summary - continued 2Q17 Cash costs of US$ 28.6/MT was lower than the Budget of US$ 29.5/MT mainly due to: Higher actual sales volumes which decreased certain unit costs Lower spend on material and spare parts as well as repair and maintenance Lower unit rates at Tabang in OB Removal, coal mining and hauling as a result of a discount received from subcontractor to increase the volumes from the original contract Lower than Budgeted demurrage; General lower actual fuel price rate which resulted decrease in barging cost and fuel consumption cost; Partially offset by: Higher weighted stripping ratio at PIK and TSA/FKP; Higher royalty cost mainly due to higher ASP; 3

5 2Q 2017 Overburden Removal Coal Production Weighted Average Strip Ratio Average Cash Costs Coal Sales Average Selling Price Committed & Contractual Sales Debt and Cash Position Capex 4

6 Overburden Removal (OB) (million BCM) Overburden Removal Q17 OB was 17.1 million BCM which was higher than 1Q17 and the Budgeted mainly due to: 1Q17 2Q17B 2Q17 Note : B stands for Budget Figure (in million BCM) Overburden Removal 2Q17B 2Q17 Gunungbayan Pratamacoal- Block II Teguh Sinar Abadi/ Firman Ketaun Perkasa Perkasa Inakakerta Tabang Concessions Wahana Baratama Mining Total Contractor has mobilized additional equipment in 2Q17 to rectify the shortfall and new geological model was prepared to correct for the discrepancies (TSA/FKP) Mobilization of additional mining fleets at PIK coupled with lower rainfall 2Q17 Overburden removal of 17.1 million BCM was higher than the 1Q17 and 2Q17 Budget 5

7 Coal Production Coal Production Volume (million MT) Q17 coal production of 4.3 million MT was principally in line with 2Q17 Budget, however it was higher than 1Q17 mainly due to : 1Q17 2Q17B 2Q17 Note : B stands for Budget Figure (in million MT) Production 2Q17B 2Q17 Gunungbayan Pratamacoal- Block II Teguh Sinar Abadi/ Firman Ketaun Perkasa Perkasa Inakakerta Tabang Concessions Wahana Baratama Mining Total The relocation of our contractor at Tabang to low strip areas during the quarter in order to better match production and trucking capacity and also as a result of higher rainfall which flooded certain sections of the working area Earlier commencement of mining at Wahana Arrival of an additional mining fleet in early April 2017 (PIK) 2Q17 coal production of 4.3 million MT was in line with the 2Q17 Budget 6

8 Actual Weighted Average Stripping Ratio (SR) Weighted Average Strip Ratio Q17 2Q17B 2Q17 Note : B stands for Budget Figure Weighted Average SR (:1) Weighted Ave SR 2Q17B 2Q17 Gunungbayan Pratamacoal Block II Teguh Sinar Abadi/Firman Ketaun Perkasa Perkasa Inakakerta Tabang Concessions Wahana Baratama Mining Total Q17 weighted average stripping ratio of 3.8: 1 was principally in line with 1Q17 and 2Q17 Budget Higher SR at TSA/FKP in 2Q17 compared to the Budget due to change in scheduling required to develop the pit at higher production rate compared to Budget and variations in the geological model Higher stripping ratio at PIK due to change in production plan following the contractor s Q2 equipment deliveries counteracting operating at lower strip ratios in Q Q17 actual weighted average strip ratio of 3.9 : 1 was principally in line with 1Q17 and the 2Q17 Budget 7

9 (US$ / MT) Average Cash Costs * Average Cash Costs per MT (*) Q17 2Q17B 2Q17 (1) Average Cash Costs include Royalty, Barging, SGA (2) US$ is a convenience translation using the average quarterly exchange rate for the quarter numbers (3) B stands for Budget Figure 2Q17 Average Cash Costs were lower than the Budget of US$29.5/MT mainly due to: Higher actual sales volumes which decreased certain unit costs Lower spend on material and spare parts as well as repair and maintenance Lower unit rates at Tabang in OB Removal, coal mining and hauling as a result of a discount received from subcontractor to increase the volumes from the original contract Lower than Budgeted demurrage; General lower actual fuel price rate which resulted decrease in barging cost and fuel consumption cost; Partially offset by: Higher weighted stripping ratio at PIK and TSA/FKP; Higher royalty cost mainly due to higher ASP; 2Q17 average cash costs were US$ 28.6/MT which was lower than the Budget of US$ 29.5/MT 8

10 Coal Sales (by volume) (million MT) Coal Sales Volume Q17 coal sales volume of 4.7 million MT was higher than 1Q17 and 2Q17B mainly due to changes in shipping schedule. 1Q17 2Q17B 2Q17 Note : B stands for Budget Figure Geographic Distribution (1Q17) Singapore 3% Thailand 4% Others 14% India 25% India and China are the top two destinations in 2Q2017 Top Customers 2Q17 (by Sales Volume) are TNB Fuel, Noble Resources and Sembcorp Gayatri Power Limited Indonesia 9% Korea 11% China 21% Philippines 13% 2Q17 coal sales volume was 4.7 million MT which was higher than 1Q17 and 2Q17 Budget due to changes in shipping schedule 9

11 (US$ / MT) Average Selling Price (ASP) Average Selling Price (*) 2Q17 ASP was US$ 50.2/MT which was marginally lower than 1Q17 of US$ 50.7/MT but higher than the Budget of US$ 40.9 due to: Higher benchmark prices in 2Q17 than the 2Q17 Budget (US$ 79.8/MT vs US$ 65.0/MT) * 1Q17 2Q17B 2Q17 (1) ASP includes coal and non-coal sales (2) US$ is a convenience translation using the average quarterly exchange rate for the quarter numbers (3) B stands for Budget Figure 2Q17 average CV was 4,682 GAR kcal compared to 1Q17 at 4,707 GAR kcal 2Q17 ASP was US$ 50.2/ MT which was higher than the Budget as the Company benefited from more exposure to the current higher benchmark prices 10

12 EBITDA EBITDA (US$ Million) Q17 EBITDA generation was stronger than Budgeted due to: Higher than Budgeted ASP Higher than Budgeted sales volume Lower than Budgeted Cash Costs 1Q17 2Q17B 2Q17 Note : B stands for Budget Figure 11

13 Committed and Contracted Sales for million MT As at 30 June 2017 committed and contracted sales were 17.7 million MT with an average CV of 4,629 GAR kcal 28% 2017 Fixed Price element at US$ 45.69/ MT with an average CV of 4,613 GAR kcal 72% Fixed Price 2017 Floating Price Note : June

14 (in million US$) Net Debt and Cash Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Note : Total Net Debt and Cash + Debt Service Reserve Account (DSRA) Net Debt Cash As of 30 June 2017, the total TLF Loan was US$ million (excluding PIK Interest) The Company reduced the Net Debt to EBITDA to 0.86x as at 30 June

15 Capital Expenditure CAPEX (*) Q17B 2Q17 2Q17 Capex was US$ 14.3 million which was higher than the Budget of US$ 11.9 million, principally consisted of: Heavy equipments (i.e. Komatsu Bulldozer, Dump Trailer and Terrain Crane) Tabang related infrastructure at Senyiur Jetty (i.e. Palu Gravel, relocation & re installment of Silo from Pakar to ICF) * US$ is a convenience translation using the average annual exchange rate; * B stands for Budget Figure 14

16 Appendix PT Perkasa Inakakerta PT Teguh Sinarabadi PT Firman Ketaun Perkasa PT Wahana Baratama Mining PT Fajar Sakti Prima PT Bara Tabang PT Brian Anjat Sentosa PT Tanur Jaya PT Silau Kencana PT Orkida Makmur PT Tiwa Abadi PT Sumber Api PT Dermaga Energi PT Bara Sejati PT Apira Utama PT Cahaya Alam PT Mamahak Coal Mining PT Bara Karsa Lestari PT Mahakam Energi Lestari PT Mahakam Bara Energi PT Graha Panca Karsa PIK TSA FKP WBM FSP BT BAS TJ SK OM TA SA DE BS AU CA MCM BKL MEL MBE GPK Tabang Pakar Mamahak 15

17 Appendix Kangaroo Resources Limited PT Dermaga Perkasapratama PT Indonesia Pratama PT Muji Lines PT Bayan Energy PT Metalindo Prosestama PT Sumber Aset Utama PT Karsa Optima Jaya KRL DPP IP Muji BE MP SAU KOJ 16

18 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 based on current plans, estimates and projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light of new information or future events. These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trends in demand and prices for coal generally and for our products in particular, the success of our mining activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for planned expansion efforts, as well as other factors. We caution you that these and a number of other known and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ materially from those expressed in any forward-looking statement. 17

19 Thank You 18