Profit of PT TIMAH (Persero) Tbk Increases 141% YoY Financial Report till 3 rd Quarter 2014

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1 FOR IMMEDIATE RELEASE For further information, please contact: Agung Nugroho, Corporate Secretary telepon : +62 (21) faksimili : +62 (21) corporatesecretary@pttimah.co.id website : Profit of PT TIMAH (Persero) Tbk Increases 141% YoY Financial Report till 3 rd Quarter 2014 Jakarta, October 30 th 2014 Today the company submits 3 rd quarter financial statements ending September 30, As of the 3 rd quarter, the company recorded revenue of Rp4.36 trillion with a net profit of Rp341 billion compared to the previous year Rp141 billion. The year of 2014 had been declared as the year of Indonesian Tin Resurrection. Regulators are more actively and aware of how strategic Indonesian tin output is for both industrial purposes and national strategic deposits. It should be common practice if mineral issue to be treated better. After August 2013 the trade of tin can only be executed at Indonesian Commodity & Derivative Exchange (ICDX) in accordance with Permendag No.32/2013. If no changes to be made, on November 1 st 2014 the new regulation Permendag No.44/2014 will apply. Lately we also read the statement from the Ministry of Energy and Mineral Resourcess (ESDM) that Indonesia is planning to limit production to approximately 45,000 tons in This must be supported by all parties becausee one of the purposes is to get rid of illegal mining which ultimately causes environmental damage. The discourse is currently facing a very tough challenge. However, the issue of Quantitative Easing (QE) by the US Government leads to dollar strengthening against all currencies and eventually hits commodity prices.

2 The weakening tin price in the market positively correlates with fluctuation of TINS share price in the trading floor. However, our Directors remain optimistic that the weakening is only temporary, and eventually tin commodity price will skyrocket along with the applied restriction on tin export quota. As one of the major companies, PT TIMAH (Persero) Tbk will remain selective in selling its commodities into the market to maintain price stability. Tin is a commodity which is easily converted into cash, and able to be sold to industrial consumers at any possible time. The company remains focused on profitability, and the available tin inventory will be delivered at expected price. Overview of Operations Tin ore production increased by 32.47% YoY to 22,870 tons compared to 17,264 tons in the previous year Refined tin production increased by 15.62% YoY to 18,601 tons compared to 16,088 tons in the previous year Sales of refined tin increased by 2.87% YoY to 15,664 tons compared to 15,227 tons in the previous year Financial Review Consolidated revenue increased by 20.78% YoY to Rp4.36 trillion compared to Rp3.6 trillion in the previous year Profit increased by % YoY to Rp341 billion from the previous year Rp141 billion Business Strategy Efficiency in all areas will continue to be pursued, one of the efforts is by reducing the use of fuel/energy from PLTD to PLTG Construction of the pilot project Rare Earth (RE) has been implemented and is expected to be final in the 1 st quarter of 2015, at the same time to establish the industrial area of Tanjung Ular, Mentok **** the end of press release **** *) Consolidated Financial Statements of PT TIMAH (Persero) Tbk and Subsidiaries for the 1 st semester of 2014 and 2013 also available on Capital Market Electronic Library (ICaMEL), Indonesia Stock Exchange Building

3 Summary of Performance Result Period of Quarter III of 2014 and 2013 Tin-in-concentrate (ton Sn) Quarter III 9 Months On Shore 2,205 1,266 7,028 2,729 Off Shore 6,314 5,812 15,842 14,536 Total Mton 8,518 7,078 22,870 17,264 Refined tin production Mton 7,793 6,474 18,601 16,088 Sales of refined tin - Mton 6,001 4,276 15,664 15,227 Average selling price US$/Mton 21,849 21,318 22,668 22,455 Inventory Tin ore ton 2,970 1,168 2,970 1,168 Slag ton 9,123 5,157 9,123 5,157 Refined ton 6,266 3,473 6,266 3,473 Tin solder ton

4 Interim Consolidated Statement of Comprehensive Income Period of Quarter III of 2014 and 2013 (In billion Rupiah, unless otherwise per share data stated in full Rupiah) Quarter III 9 Months 30 Sep Sep Sep Sep 2013 Revenue 1, , , , Cost of Sales and Direct Cost 1, , , Gross Profit Selling Expenses General and Administration Expense Exploration Expenses Operating Expenses Operating Profit Interest Income Interest and Finance Charge (31.86) (6.60) (74.93) (15.34) Gain (Loss) of Foreign Exchange net (45.77) Others (16.73) (35.10) Gain (Loss) of Associates (0.02) (0.32) Profit before Income Tax Tax Expenses (98.57) (29.00) (188.15) (115.98) Income for The Year from Continuing Operations Discontinued Operations (Loss) Profit for The Year from (17.36) 4.07 (17.06) (0.33) Discontinued Operations Profit for The Year Other Comprehensive Income Exchange Difference due to Financial Statement Translation Unrealized Gain (Loss) from Available for Sale Securities (0.00) (0.27) 0.15 (0.73) Total Comprehensive Income for The Period Net Income Attributable to: Owner of The Entities Non-Controlling Interest Comprehensive Income Attributable to: Owner of The Entities Non-Controlling Interest Comprehensive Profit (Loss) Attributable to Shareholders from Continuing Operations Discontinued Operations (17.36) 4.07 (17.06) (0.33) Basic Earnings per Share for: Continuing Operations 0.02 (0.00) Discontinued Operations (0.00) 0.00 (0.00) (0.00)

5 Interim Consolidated Statement of Financial Position Period of Quarter III of 2014 and 2013 (In billion Rupiah) Year 30 Sep Dec 2013 Current Assets Cash and Cash Equivalent Other Financial Assets Trade Account Receivables , Other Account Receivables Inventories net 3, , Prepaid Taxes Other Current Assets Total Current Assets 5, , Assets Classified as Held for Sale , , Non-Current Assets Receivables Related Parties Receivables Third Parties Investment in Associates Deferred Tax Assets Fixed Assets Cost 5, , Accumulated Depreciation (3,114.58) (2,890.14) Deferred Cost Depreciation (2.58) (2.58) Fixed Assets 2, , Prepaid Taxes Non-Current Investment Properties Mining Properties Other Non-Current Assets Total Non-Current Assets 2, , Total Assets 8, , Short Term Liabilities: Short Term Bank Loans 2, , Trade Payables: Related Parties Third Parties Dividend Payables Tax Payables Royalties Payables Accrual Expenses Provision for Environmental Rehabilitation Current Other Payables Subtotal 2, , Liabilities Directly Associated with Assets Held for Sale Total Current Liabilities 3, , Non-Current Liabilities: Deferred Tax Liabilities Liabilities Reward Post Employment Provision for Environmental Rehabilitation Non Current Total Non-Current Liabilities Equities Attributable to: Owner of The Entities 4, Non-Controlling Interest Total Equities 4, , Total Liabilities and Equities 8, ,883.29

6 Interim Consolidated Statement of Cashflow Period of Quarter III of 2014 and 2013 (In billion Rupiah) Quarter III 9 Months 30 Sep Sep Sep Sep 2013 Operating Activities Receipts from Customers 1, , , , Cash Payment to: Suppliers (1,148.98) (1,320.40) (3,534.26) (3,248.50) Employees (247.43) (275.49) (732.92) (766.16) Cash from Operating Activities (6.60) (87.34) Restitution of Tax Receipts from Finance Income Payment of Pension Distribution (13.24) (13.01) (39.13) (42.50) Payment of Dividend - - (283.41) (215.79) Payment of Taxes and Royalties (306.88) (276.10) (912.41) (833.48) Net Cash Flow Provided by Operating Activities (190.02) (317.69) (505.02) (272.85) Investing Activities Acquisition of Fixed Assets (127.48) (334.84) (182.63) Proceeds from Disposal of Other Assets (Increase) Decrease of Restricted Cash (4.68) (1.38) Acquisition of Mining Properties Penambahan Properti Investasi (3.43) - (25.73) - Net Cash Flow Used in Investing Activities (124.62) (354.67) (184.01) Financing Activities Payment of Bank Loans (583.41) (201.34) Receipts of Bank Loans Interest Paid (27.00) (7.75) (74.93) (16.56) Net Cash Flow Used in Financing Activities Increase (Decrease) in Cash and Cash Equivalents (209.52) Cash and Cash Equivalent Beginning of The Period Effect of Exchange Rate on Cash and Cash Equivalents 4.83 (22.26) (4.74) (18.71) Cash and Cash Equivalent End of The Period