Ist HALF REPORT Jakarta, 25 August 2011, PT Timah (Persero) Tbk reported today s its Company performance on first half 2011.

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1 For Further Information please contact: Abrun Abubakar, Corporate Secretary tel : fax : corsec@pttimah.co.id PT Timah (Persero) Tbk Posted Up Income For the Period of Rp 689 Billion on the First Semester 2011 Ist HALF REPORT Jakarta, 25 August 2011, PT Timah (Persero) Tbk reported today s its Company performance on first half LME Refined Tin Price and Stock Period of Jan 09 Jun 11 (monthly average) BUSINESS SITUATION: The highest refined tin price in LME on the first semester 2011 was US$ 33,255/mt and the lowest was US$ 24,600/mt with the average price of US$ 29,337/mt, or 67% higher than that on the same period in 2010 of US$ 17,529/mt. Global demand of refined tin expected to continue to rise over the next few years. Moreover, global refined tin consumption on 2011 is estimated 2% higher than last year the same period. Company seek to increase revenue by focusing on premium tin sales as well as downstream product development. PRODUCTION AND SALES: Company seek to reduce dependence from onshore mining by increasing offshore production capacity. Meantime, company is constructing new type of dredge called Bucket Wheel Dredge (BWD) with better technology that able to mine deeper compare to our existing Bucket Line Dredge (BLD) in order to support company management strategic plan to go offshore go deeper. Tin ore production volume from offshore operation during first semester is 8,255 ton Sn, 9% decreased from the same period in 2010 which is 9,085 ton. Sn. Meanwhile, tin ore production from onshore operation is 9,446 ton Sn or 11% higher than that of the same period in 2010 of 8,503 ton. Sn. Refined tin production by the end of June 2011 is 18,455 mton while refined tin production on first semester 2010 is 19,501 mton. page 1 from 6

2 Refined tin sales on the first half 2011 is 17,457 mton or 12 % lower than that of same period in 2010 which was 19,760 mton. FINANCIAL: Refined tin price average received by the company during the first half 2011 is US$ 29,541 which is 69% higher than that of the same period in 2010 of US$17,529. Company consolidation income on first semester 2011 is Rp 4,830 billion or 29% higher than the same period on 2010 was Rp3,749 billion. Gross profit and net income on first semester 2011 is Rp 1,253 billion and Rp 689 billion respectively. While gross profit and net income on first half 2010 was Rp 689 billion and Rp 322 billion respectively. The company balance sheet for period ended of 30 June 2011, amount of total assets Rp 6,528 billion or 11% higher, compared with the position on 31 December 2010 which was Rp 5,881 billion. Increase in value of these assets is also accompanied by an ascension of current liabilities to 32%. Value of current liabilities on 30 June 2011 is Rp 1,675 billion and the same value of debt on 31 December 2010 is Rp 1,269 billion. ANNUAL GENERAL MEETING OF SHAREHOLDER On June 2011, the corporate conduct AGMS, and one result on its decisions is the determination of devidend, 50% of the net profit or Rp per share. Total cash dividends is Rp. 473,968,000,000.- paid in cash on 4 August % from the dividend of Rp. 308,079,200,000.- is paid to Republic of Indonesia government and 35% is paid to public shareholder which is Rp. 165,888,800,000.- TINS SHARES [ tins ] On the first semester 2011, tin shares price fluctuated on the highest position at Rp 2,925.- and the lowest Rp 2,375.- per share. On 30 June 2011 the closing price was Rp slightly decreased compared to the opening price on 3 January 2011 of Rp 2,850.- page 2 from 6

3 Summary of Operatioan Performance on 2nd Quarter and 1st Semester of 2011 and nd Quarter 1st Half Production Earth Moved - m3 Onshore 1,120,942 1,154,573 2,015,870 2,168,077 Offshore 7,769,139 8,968,309 15,021,906 17,941,535 Total 8,890,081 10,122,882 17,037,776 20,109,612 Tin-in-concentrate tonnes Sn Onshore 4,793 3,262 9,446 8,503 Offshore 4,779 6,929 8,255 9,085 Total 9,572 10,191 17,701 17,588 Refined Tin Production Mton 9,952 10,236 18,455 19,501 Sales Refined Tin Sales Mton 9,465 9,990 17,457 19,760 Inevtory Tin-in-concentrate tonnes Sn 1,294 1,757 1,294 1,757 Slag ton 5,363 6,888 5,363 6,888 Refined Mton 3,685 2,722 3,685 2,722 Tin Solder Mton Performance Parameter Exchange rate -end- Rp / US$ 8,597 9,083 8,597 9,083 Exchange rate -av- Rp / US$ 8,621 9,114 8,771 9,192 Tin Price Received av - US$/Mton 29,435 17,959 29,541 17,529 Production cost - US$/Mton 22,426 15,288 22,136 14,118 Delivered cost - US$/Mton Timah 24,294 16,495 23,676 15,123 Delivered Cash cost - US$/Mton 24,664 15,591 22,876 14,289 Margin per ton - US$ 5,141 1,465 5,865 2,406 page 3 from 6

4 Unaudited Consolidated Income Statement 2nd Quarter and 1st Semester 2011 and 2010 (In billion Rupiah, unless otherwise stated) 2nd Quarter 1st Half Net Revenue 2,581 1,914 4, Beginning Inventories 1,437 1,508 1,437 1,508 Production Expenses 1,809 1,346 3,468 2,309 Ending Inventories 1,602 1,265 1,602 1,265 Cost of sales (Non tin) Cost of sales and direct cost 1,973 1,595 3,577 3,060 Gross Profit , Selling General Administration Interest Income Interest and Finance Charge (6) (3.9) (12) (9) Lost on Foreign Exchange Net (11) 0.4 (32) (23) Others Net (4) (2.2) (1) (0) Exploration - (2) - - Equity in net income (loss) of an associate Net Income before Tax Tax Expense (123) 8 (241) (76) Income for the Period OTHER COMPREHENSIVE INCOME, NET OF TAX Foreign Currency Translation Adjustment (4) (0) (4) (7) Increase (decrease) on available - for Sale Securities (1) (2) (1) (2) Difference due to changes in equity of associate - (0) - 0 NET COMPREHENSIVE INCOME Income Attributable to: Owners of the Parent Non Controlling Interest Comprehensive Income Attributable to: Owners of the Parent Non Controlling Interest EBITDA , Basic and Dilluted Earning per Share (full amount) Ratios Gross Profit Margin - % 24% 17% 26% 17% Operating Profit Margin - % 18% 9% 19% 9% Profit before tax to Sales. - % 18% 9% 19% 9% page 4 from 6

5 Consolidated Statement of Financial Position 30 June 2011 and 2010 (In Billion Rupiah) 30 June December 2010 Current Asset Cash and cash equivalents Temporary Investments Trade account receivables Other account receivables 74, Inventories net 2, ,802.7 Prepaid tac Other currents assets Total current assets 4, ,108.9 Non Current Assets Related parties account receivable Third parties account receivable Investment in associates Deffered tax asset Price of fixed asset 3, ,376.7 Accumulated depreciation (2,142.6) (2,012.2) Provision for losses in diminution of value (2.6) (2.6) Fixed asset 1, ,361.9 Investment properties Other current assets Total Non Current Assets 1, ,772.2 Total Assets 6, ,881.1 Current Liabilities Short term bank loan Trade account payable: - Related parties Third parties Royalty and taxes payable Other payables 1, Total Current Liabilities 1, ,269.5 Non Current Liabilities Deffered tax liabilities Post employment benefit obligation Provision for environmental rehabilitation Total Non Current Liabilities Equity attributable to owners of parrent entity 4, ,202.8 Minority Interest Equity 4, ,203.1 Total Liabilities and Equity 6, ,881.1 page 5 from 6

6 Cash Flow 2nd Quarter and 1st Semester 2011 and 2010 (In Billion Rupiah) 2nd Quarter 1st Half Cash flow from operating activities : Cash received from customer 2,494 1,882 4, ,679.1 Cash paid to: - Supplier (1,528) (1,254) (3,055.0) (2,280.9) Employee (216) (179) (384.9) (342.8) Cash generated from operation , ,055.4 Interest received Tax refund Pension contribution paid (16) (12) (31.0) (23.5) Taxes and royalties paid (480) (254) (772.2) (477.2) Net Cash provided by Operating Activities Cash flow from investing activities: Cash flow from financing activities (113) (114) (205.2) (213.4) Additional investment in ascociate (15) (15.0) Amount of investment cash (113.4) (129.0) (205.2) (228.4) Financing activities: Addition (payment) of bank debt net (35) (123) (325.3) (224.7) Interest paid (6) (5) (10.6) (9.5) Dividen paid - - Cash funding (40.4) (127.8) (335.9) (234.3) Increase / (decrease) in cash and cash equivalen 124 (69) Cash and cash equivalents at beginning period Effect of foreign exchange rate fluctuation on cash (2) 8 (4.9) (4.5) Cash and cash equivalents at end of period Note: consolidated Financial Statement of PT timah (Persero) Tbk and subsidiaries for period ended 30 June 2011 and 2010 is available at Capital Market Reference Center (KNPM) Indonesia stock Exchange Building (BEI) ***** end of release ****** page 6 from 6