#1Investor Presentation 1Q 2022 June 2022 AVAVAVA Delta Dunia 1 - STRICTLY CONFIDENTIAL -#2Disclaimer Delta Dunia These presentation materials have been prepared by PT Delta Dunia Makmur Tbk ("Delta") (the "Company"), solely for the use at this presentation and have not been independently verified. Information relating to PT Bukit Makmur Mandiri Utama ("BUMA") has been included with its content, and has not been independently verified. This presentation is being communicated only to persons who have professional experience in matters relating to investments and to persons to whom it may be lawful to communicate it to (all such persons being referred to as relevant persons). This presentation is only directed at relevant persons and any investment or investment activity to which the presentation relates is only available to relevant persons or will be engaged in only with relevant persons. Solicitations resulting from this presentation will only be responded to if the person concerned is a relevant person. Other persons should not rely or act upon this presentation or any of its contents. You agree to keep the contents of this presentation strictly confidential. This presentation material is highly confidential, is being presented solely for your information and may not be copied, reproduced or redistributed to any other person in any manner. In particular, this presentation may not be taken or transmitted into Canada or Japan or distributed, directly or indirectly, in the Canada or Japan. Further, this presentation should not be distributed to U.S. persons except to (1) qualified institutional buyers in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A and (2) to non-U.S. persons outside the United States in an "offshore transaction" as defined in Regulation S of the U.S. Securities Act of 1933, as amended. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. Neither the Company nor any of its affiliates, advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in this presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice and its accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives make any undertaking to update any such information subsequent to the date hereof. This presentation should not be construed as legal, tax, investment or other advice. In addition, certain information and statements made in this presentation contain "forward-looking statements." Such forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "considering," "depends," "estimate," "expect," "intend," "plan," "planning," "planned," "project," "trend," and similar expressions. All forward-looking statements are the Company's current expectation of future events and are subject to a number of factors that could cause actual results to differ materially from those described in the forward-looking statements. Caution should be taken with respect to such statements and you should not place undue reliance on any such forward-looking statements. Certain data in this presentation was obtained from various external data sources, and the Company has not verified such data with independent sources. Accordingly, the Company makes no representations as to the accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares or other securities of the Company or BUMA and neither any part of this presentation nor any information or statement contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase securities in any offering of securities of the Company or BUMA should be made solely on the basis of the information contained in the offering document which may be published or distributed in due course in connection with any offering of securities of the Company or BUMA, if any. By participating in this presentation, you agree to be bound by the foregoing limitations. - STRICTLY CONFIDENTIAL - 2#31Q 22 Financial Highlights Overburden Removal and Coal 124 MBCM Up 90% Y-o-Y 18 MT Up 44% Y-o-Y Revenue US$ 332M Up 108% Y-0-Y Delta Dunia EBITDA US$ 70M 23.9% EBITDA Margin FY22 Overburden Guidance 480-565 MBCM FY22 Coal Guidance 74 - 86 MT Operating Cash Flow US$ 40 M Up 47% Y-o-Y Net Profit/(Loss) US$ (0) M Effect of ramp-up of new growth Net Debt US$ 823 M > 60% of debt only due 2026 or later FY22 Revenue Guidance US$1,300 - 1,500M FY22 EBITDA Guidance US$320 - 380M FY22 Capital Expenditure Guidance US$150 - 200M 1. FY22 Guidance includes contribution from BUMA Australia - STRICTLY CONFIDENTIAL - 3#4Highlights in 2021 Delta Dunia Financial Refinanced with a US$400M 2026 bond same pricing, more flexibility to accommodate growth ■ Secured US$350M bank loan facility from Bank Mandiri, to facilitate new contracts' capex and geographical diversification ■ Recent extension of long-term contracts with manufacturers that includes leasing facilities, with a move towards global supply agreements Financial Lease Facility by Komatsu Astra Finance of US$317M Offshore loan by CAT Finance group of US$170M Operations New Contracts/Extensions: - New 5 year contract with Adaro's Tutupan Mine operation with total contracted volume of over 234 MBCM OB and 44 MT coal Signed an extension and expansion contract for Bayan's Indonesia Pratama mine for 5 years to 2031, with total contracted volume of over 650 MBCM OB and over 75 MT coal Operational Improvements: - - Advanced mining technology roll- outs in certain sites to improve productivity and cost reduction Improved dumping method to address challenging mine condition and increase productivity and safety level especially during heavy rainfall Growth Mining Services Expanded geographical capability and diversified customer base into the Australian market by acquiring Downer Mining East Mine Ownership Acquired a 15.4% stake in Asiamet Resources (ARS) ListCo and conducting due diligence for an investment at the project level Looking Ahead - FY2022 ■ Announced the extension of BUMA Australia's contract with the BHP Billiton and Mitsubishi Alliance at the Blackwater until 2026 valued at AUD540mn ■ Awarded a new contract with Bowen Coking Coal valued at AUD320mn ■ BUMA is actively engaging on additional projects, including expansion into base metals: - BUMA has been increased its orderbook by c.USD2.3bn (c.55% increase) since September 2020 - STRICTLY CONFIDENTIAL -#5Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix AVAVAVA Delta Dunia - STRICTLY CONFIDENTIAL - 5#6Corporate Overview NTP Ltd (SHPL) 37.9% Public shareholders 62.1% 100%' listed on IDX (2001) Delta Dunia Holding company BUMA Operating company 100% Delta Dunia BUMA Australia Operating company Established in 1990, listed in IDX as DOID in 2001. NTP Ltd., now consisting of SHPL, own 37.9% with remainder owned by public shareholders. ■ Holding company of PT Bukit Makmur Mandiri Utama ("BUMA"), one of the leading coal mining services contractor in Indonesia BUMA, acquired in 2009, is the primary operating of DOID Established in 1998, and wholly owned by PT Delta Dunia Makmur (DOID) since 2009 Strong #2 mining contractor in Indonesia with c.15% market share ■ Customers include largest and lowest cost coal producers in Indonesia and new players with high potential for future growth ■ Secured long-term, life of mine contracted volume ■ Over 3,000 high quality equipment from Komatsu, Caterpillar and Scania More than 15,500 employees ◉ ☐ Established in 2021 to acquire the Open Cut Mining business of Downer Acquisition included the transition of all people, mining services contracts, assets, systems and intellectual property Leading Tier 1 mining contractor in Australia for more than 75 years Robust contract base with BHP-Mitsubishi Alliance (BMA) Blackwater-Goonyella coking coal mines & 2 mine-mouth powerplant for Queensland government ■ Highly experienced management team exploring substantial growth pipelines More than 1,000 employees 1. Full ownership less one share - STRICTLY CONFIDENTIAL - 6#7Corporate Strategy CORE BUSINESS US$m, unless stated' FY18 FY19 FY20 FY21 IQ222 ◉ OB Removal (MBCM) 393 380 282 326 124 ■ Revenue 892 882 602 911 332 EBITDA 298 236 164 234 70 % EBITDA margin³ 36% 29% 29% 28% 24% EBIT 164 88 20 82 13 % EBIT margin³ 20% 11% 4% 10% 5% BUMA is Indonesia's second largest mining contractor, with a ~15% market share BUMA averaged ~350MBCM for the last 4 years Established, long-term contract base, with current orderbook of ~US$6.5bn BUMA has actively expanded its contract base, targeting first quartile mining operations Dominant positions with, Adaro Energy, Bayan Resources and Berau Coal Energy " The completion of the Downer Mining East (BUMA Australia) acquisition expands our core business another key mining jurisdiction Adds 160MBCM capacity to our core business Robust contract base with BHP- Mitsubishi Alliance (BMA) Blackwater- Goonyella coking coal mines & 2 mine- mouth powerplant for Queensland government Highly experienced management team exploring substantial growth pipelines Strong and stable cashflows will drive diversification SYNERGIES Fleet Management Systems Operational Excellence and Safety Systems DOID Consolidated financials (BUMA is currently the only operating subsidiary). 123 1. 2. 1Q22 Financials has fully consolidated with BUMA Australia. 3. Margins are based on net revenue excluding fuel. - STRICTLY CONFIDENTIAL - Delta Dunia ADJACENT GROWTH PILLARS DIVERSIFY: COMMODITIES Build our mining services capabilities, as a mine owner and operator Strategic acquisitions to expand DOID's portfolio to include other commodities (initially copper) DIVERSIFY: GEOGRAPHY ◉ ☐ The BUMA Australia acquisition is a first step in expanding our core business into key global mining markets DOID is seeking to leverage our long-standing relationships to build a broad global client base ADVANTAGE: TECHNOLOGY ☐ " Monetising BUMA's industry-leading capabilities in Predictive and Digital Maintenance, Mine Plan Optimization and Safety Analytics - Build an Operation Excellence Technology Division to spin-off developed technology The application of this technology to acquisitions (including BUMA Australia) add substantial value ADVANTAGE: INFRASTRUCTURE AND RENEWABLES Leveraging our infrastructure capability to capture Indonesia's renewable business growth and opportunities ■ Initial investments in SUN SG, which is expanding its renewable business throughout South-East Asia and Australia 7#8Implementation Plan Consolidating Core Business Improvement of Core Business Mine Ownership Delta Dunia ■ ■ Focus Area Integration and expansion of the Australian business Stabilisation of operations, leveraging the respective strength of the Australian and Indonesian businesses to improve global performance Focus Area Extension and expansion of current order book Targeting commodity diversification (including base metals) Selectively seeking further acquisitions, and organic growth Focus Area Seeking to expand our core business into mine operation and ownership, with an initial focus on Indonesia and Australia Acquisitions will be considered based on the requirements and capacity within our core business ☐ Π Integration of BUMA Australia has commenced, and will conclude after transitional arrangements with Downer conclude Executing global supply arrangements with key suppliers across Australia and Indonesia Rolling out technological transformation, especially predictive maintenance across the businesses ◉ Actively bidding for a pipeline work, particularly in Australia Continuing to improve the quality of our orderbook, and counterparties Continuing to review opportunistic acquisitions, in contracting and adjacent businesses Continued optimisation of funding profile We have reviewing a number of acquisitions. We will be selective based on the nature of the operations and the commodities May look to partner selectively, although there is a strong preference for controlling positions ■ Preference for assets with a clear path to production - STRICTLY CONFIDENTIAL - 8#9Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix AVAVAVA Delta Dunia - STRICTLY CONFIDENTIAL - 6#10Financial Highlights Overburden Removal' (m bcm), Coal Production & Hauling (m tonnes) OB Removal Coal Production Hauling 393 380 340 326 282 Guidance 480 - 565 Revenue¹² (US$m) 892 882 911 765 602 Delta Dunia Guidance 1,300 - 1,500 332 124 40 5 42 5 50 50 45 54 13 12 14 18 3 FY17 FY18 FY19 FY20 FY21 1Q22 FY22E FY17 FY18 FY19 FY20 FY21 1Q22 FY22E EBIT and EBIT Margin² (US$m) EBITDA and EBITDA Margin¹,² (US$m) 38.6% 36.2% 28.6% 29.4% 28.3% 23.9% Guidance 320 - 380 23.6% 19.9% 298 281 10.7% 9.9% 172 4.6% 236 164 3.5% FY17 FY18 80 88 FY19 1. FY22E Guidance includes full contribution from BUMA Australia. 22 2. Margins are based on net revenue excluding fuel. 20 20 82 20 13 FY20 FY21 1Q22 164 234 III. 70 - STRICTLY CONFIDENTIAL - FY17 FY18 FY19 FY20 FY21 1Q22 FY22E 10#11Financial Results US$m, unless stated FY20 FY21 Change 1Q21 1Q22 Change Volumes Overburden Removal (m bcm) 282 326 16% 65 124 90% Coal (mt) 45 54 19% 13 18 44% Key Financials Revenue 602 911 51% 160 332 108% EBITDA 164 234 43% 31 70 122% EBITDA Margin 29.4% 28.3% 21.8% 23.9% Operating Profit 20 82 314% (1) 13 1158% Net Profit/(Loss) (23) 0 101% (26) (0) N.M. EPS (in Rp) Rp (40) Rp 0 101% Rp (42) Rp (0) N.M. Unit Financials (US$) Cash costs ex fuel per bcm 1.11 1.42 28% 1.34 1.46 9% Cash costs ex fuel per 0.40 0.50 25% 0.49 0.48 2% bcm/km " Delta Dunia Overburden Removal increased by 90% from 1Q21 1Q22 reflects volume recovery and incremental volume from new contracts and BUMA Australia included Revenue increased by 108% from 1Q21 Increase in volume reflecting the recovery in the Company EBITDA increased by 122% from 1Q21 - Increase due to higher volume Increase in cost to support volume growth and new contracts Cash costs ex fuel per bcm increased by 9% from 1Q21 Incurred upfront costs necessary to facilitate growth ramp up efforts - Reflecting BUMA Australia cost Cost related to higher than expected rain hours caused by the La Nina anomaly - STRICTLY CONFIDENTIAL - 11#121. 2. Balance Sheet and Cashflow US$m, unless stated Key Balance Sheet Items Cash Position¹ Borrowings Net Debt Net Debt to EBITDA² FCCR² Liquidity position Sep 21 Dec 21 Mar 22 371 221 155 894 920 979 Delta Dunia Free cash flow decreased reflected an incremental USD52mn capital expenditure to support growth expected from two new contracts signed Net debt to EBITDA ratio of 2.79x in 1Q 2022, showing that BUMA remain in healthy condition and continue maintaining minimum debt level Refinancing of 2022 Notes Refinanced MUFG loan and Senior Notes 2022 with new US$400M Senior Notes 2026 with greater flexibility to accommodate growth Secured new US$350M Syndicated Facility led by Mandiri to fund growth capex and Australia acquisition Borrowings comprise: 523 700 823 3.23x 2.82x 2.79x - 2.96x 4.62x 5.98x - Bank Loan of US$m, unless stated FY20 FY21 Change 1Q21 1Q22 Change - Senior Notes Unit Financials (US$) Financing leases Operating Cashflow 234 267 14% 27 40 47% - Free Cashflow 211 (188) 189% 13 (18) 237% - Capital Expenditure 24 340 1305% 14 42 52 269% Includes cash, cash equivalents and other current financial assets Status of BUMA's in lieu of its Senior Notes and bank loan covenants US$350m US$400m outstanding of US$205m Operating Cashflow increased by 47% Driven by majority of the incremental in EBITDA The Group continues to maintain good relationships with customers to ensure no delay of payments Free Cashflow decreased by 237% from 1Q21 High growth capex to support volume growth and new contracts - STRICTLY CONFIDENTIAL - 12#13Capital Expenditure 340 c.86% FY21 Capital Expenditure ■ Guidance FY22E Capital Expenditure' Delta Dunia 150-200 Growth Capital Expenditure: Growth Capital Expenditure: - Core Fleet for ADR Tutupan Carry forward Core Fleet for ADR Tutupan Core Fleet for IPR Expansion c.60% Core Fleet for IPR Expansion c.40% Sustaining Capital Expenditure: c.14% Support unit replacement for existing sites FY21 1. FY22E Guidance includes contribution from BUMA Australia - STRICTLY CONFIDENTIAL - FY22E Sustaining Capital Expenditure: Support unit replacement for existing sites 13#14FY22E Guidance US$m, unless stated Volumes 1Q22 FY22E1 ■ Factors underpinning volumes: - Full I year production in ADR Tutupan Increase from IPR contract expansion Additional from consolidating BUMA Australia Overburden Removal (m bcm) 124 480-565 Capital Expenditure: Coal (mt) Financials Revenue EBITDA Capital Expenditure 1. FY22E Guidance includes contribution from BUMA Australia 18 74-86 1,300- 332 1,500 70 320-380 0 52 150-200 Carry forward 2021 Capex Growth Capex to support IPR contract expansion Maintenance capex from Existing projects and BUMA Australia Delta Dunia - STRICTLY CONFIDENTIAL - 14#15Weather Challenges Higher rainfall throughout early months of the year 2021 as compared to the same months in previous years, and continued to 2022 ◉ This heavier rainfall has continued to 3Q 2021 which is usually a driest season of the year ■ BMKG expects El Nino is neutral but will potentially turn to La Nina towards the end of the year to Jan- 22; thus, a continued risk for slower volume ramp-up for the remainder of the year 2021 weather has been an anomaly as seen impacting the whole Indonesia coal production but the Company will continue to address the loss production by optimizing other operational metrics. Total Rainfall Hours at Mine Site in Indonesia 297294 270 248244 236 233 206 203211 180 160 130 Delta Dunia Total for the Year 2017 Rainfall Hours 823 2018 758 2019 745 2020 974 2021 1,050 1Q 2022 270 280 254 243 221 218 212 200 80 80 Q1 Q2 Q3 2017 2018 2019 2020 2021 2022 - STRICTLY CONFIDENTIAL - Q4 +4 15#16Company Overview Financial Overview Key Investment Highlights Appendix Mining Services Overview AVAVAVA Delta Dunia 16 - STRICTLY CONFIDENTIAL -#17Key Investment Highlights 1 Delta Dunia Scalable Core Business: Secure contracts with long-term clients provide predictable and stable revenues 2 Track Record: History of improving operating performance, reducing maintenance costs and efficient capex strategy Capital Management: Active capital management throughout 2021 sees >60% of debt due in 2026 or later 3 Delta Dunia 4 Opportunistic Growth: Strong and stable cashflows, and available liquidity, to drive opportunistic acquisitions and organic growth 5 Experienced Management: Management team, with significant industry experience, to push further optimization and growth - STRICTLY CONFIDENTIAL - 17#181 Scalable Core Business: Secured, long-term contracts... Delta Dunia Contracts Orderbook No Indonesia Customers Kalimantan 1 Adaro (Paringin)2 Years of Relationship 16 years Existing Contract Period 2 Adaro (Tutupan) 16 years 2009-20221 2021-2025 North Kalimantan 3 Angsana Jaya Energi (AJE) 3 years 5 & 6 4 - Bayan Indonesia Pratama (IPR)³ 15 years East Kalimantan 5 Berau Coal (Binungan)² 22 years West Kalimantan Pontianak 4 Samarinda Balikpapan 6 Berau Coal (Lati)² 22 years 9 10 1&2 Central Kalimantan South Kalimantan 7 - Geo Sungai Danau Jaya (SDJ)1 5 years 8 - Geo Tanah Bumbu Resources (TBR) 1 5 years 9 Banjarmasin 3, 7, 8 10 10 RAIN - Insani Baraperkasa (IBP) 2 years Tadjahan Antang Mineral (TAM) 5 years 2018-20215 2018-2031 2003-20251 2012-20251 2015-20231 2018-20241 2018-2025 2015-2025 Contribution to BUMA Order book volume (%) Others, 16.1% Queensland Government, 1.3% Berau, 24.3% 1) Life of mine contract 2) CCoW licensed Stanwell, 3.8% US$7.5bn Queensland No Australia Customers Years of Relationship Existing Contract Period BMA, 5.4% 1 BHP Billiton and Mitsubishi Alliance (Blackwater) 10 years 2022 - 2026 Adaro, 11.1% Bayan, 38.0% BHP Billiton and Mitsubishi Alliance 2 Goonyella 2 14 years 2020-20224 (Goonyella) Blackwater 1 Millmerran Power Management 3 21 years 2019-2024 (Commodore) Meandu 4 4 Stanwell Corp (Meandu) 9 years 2020-2025 5 Commodore 3 Bowen Coking Coal (Meandu) New 2022 - 20256 3) In IQ21, signed an extension and expansion contract with Bayan to 2031. Bayan relationship started in 2003 but the Group did not work continuously at the Bayan mine sites 4) Option to extend to 2024 5) Term sheet has been signed and extended to 2025 6) Option to extend by I year - STRICTLY CONFIDENTIAL - 18#191 ...provide predictable and stable revenues BUMA Revenue (US$m) 892 882 765 Impact of COVID-19 602 911 BUMA Australia Revenue¹ (US$m) Delta Dunia Australian regulation, border closures and vaccination programme prevented any material disruption from COVID-19 392 362 356 282 385 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Company will remain prudent on capex planning and liquidity management to preserve future strong cash generation and support the incremental overall volumes. 1. BUMA Australia's historical results are for reference only and do not form part of DOID's financial statements. BUMA Australia's Financial Year is from Jul-Jun - STRICTLY CONFIDENTIAL - 19#202 Track Record: History of improving performance... Repair and Maintenance Cost per BCM (US$/BCM) Physical Availability Production Parameters Loader Hauler Delta Dunia 0.49 100% 80% 60% 40% 0.46 20% 0% FY17 FY18 FY19 FY20 FY21 1Q22 Utilization Availability 0.43 80% 60% 40% 20% 0% Ave FY13-16 Ave FY17-21E FY22E FY17 FY18 FY19 FY20 FY21 1Q22 Initiatives including implementing digital maintenance and taking maintenance fully in-house have helped to extend major components life, resulting in a continuous improvement in Maintenance Costs per BCM moved while maintaining consistent performance - STRICTLY CONFIDENTIAL - 20#21☐ 2 Track Record: ...and efficient capex strategy Delta Dunia Capital Expenditure (US$m) Peak of replacement cycle coupled with growth that made up for current existing capacity Minimum capital spending, given excess capacity in the midst of pandemic-driven business environment New contracts with significant increase in volumes (orderbook growth), requiring higher capex but is expected to normalise 340 186 126 305 86% Growth Guidance 150 - 200 60% Growth 46 46 56 73 56 24 14% Maintenance 24 40% Maintenance FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E Optimal capital spending and utilization of capacity are keys for highest return in investment and liquidity buffer to sustain uncertainties Maintenance capex for existing capacity is expected to normalize in next few years ☐ Excess capacity will be optimized to minimize capital spending ― STRICTLY CONFIDENTIAL - 21#223 Capital Management: Active capital management sees >60% of debt due in 2026 or later Delta Dunia Capital Management in 2021 US$400 million % of Debt Senior Notes - Rated BB- by Fitch (Stable), Ba3 by Moody 9% 7% Due Refinancing of previous debt structure was completed in March 31, 2021 800 Coupon of 7.75% p.a. Tenor of 5NC2 - due 2026 Debt Maturity Profile (US$m) 10% 13% 61% 0% " Settlement at maturity (no amortization) Secured by DSRA 600 Main use of proceeds to repay previous bank loans and Senior Notes Minimal debt repayment requirements from 2022 to 2025 524 US$350 million 400 Syndicated Loan Facility " Interest of LIBOR+3% p.a. 200 Tenor of 4.75 years maturing Jan 2026 110 73 87 Step-up amortization with average life of 3.65 years 60 Secured by assets Main use of proceeds to support organic and inorganic growth 0 2022 2023 The formerly bilateral loan facility is now a syndicated loan facility consisting of Bank Mandiri and JTrust. ■Bonds 2024 Bank Loans 2025 2026 2027 Financing Leases As of September 2021, the facility was fully drawn. Financing Leases " Average cost of LIBOR + 4.00% - 4.50% Tenor 4-5 years, some extendable to 7 years Straight-line installments " Outstanding at March 2022 appx. US$205 million¹ 1. Excludes rights-of-use lease labilities from capitalized operating lease ■ Post orderbook expansion over the last 2 years, the current mining services contracts are expected to be stable and consistent Back-ended amortization, preserving liquidity in the early years, providing flexibility to pursue growth ◉ Low average cost of debt ■ Maintains great rapport with numerous suppliers. Post-BUMA Australia acquisition, the Group is now seeking to enter global supply contract agreements As we did in 2021, we will continue to actively manage our capital structure, in consideration of market conditions and opportunities - STRICTLY CONFIDENTIAL - 22#234 Opportunistic Growth: Strong and stable cashflows to drive diversification and growth Delta Dunia 243 EBITDA (US$m) 320-380 Diversification By Region: Now one of the key contractors in two of the world's key mining jurisdictions By Client: Diversifying and strengthening our contract book and client base, focusing on the lowest cost operations By Commodity: Beyond thermal coal By Participation: Into mine ownership Debt Management Strong, stable cashflows allow us to effectively manage our capital structure. The Company has limited debt repayment for the next 4 years We retain flexibility to manage our debt position depending on market conditions and expansion initiatives Spin-offs ◉ Average 2017-2020 FY22E We are seeking to monetise BUMA's industry-leading capabilities in Predictive and Digital Maintenance, Mine Plan Optimization and Safety Analytics This includes building an Operation Excellence Technology Division, with a view to potential separation of the division - STRICTLY CONFIDENTIAL - 23#245 Dedicated management team with significant industry experience and expertise Delta Dunia Highly experienced leadership team, supported by Board of Commissioners with significant experience in the mining industry and expertise across capital markets and private equity Delta Dunia Board of Commissioners Hamid Awaludin President Commissioner and Independent Commissioner President Commissioner since 2011 Also serves as President Commissioner of PT Surya Esa Perkasa Tbk and PT Pelita Samudera Shipping Tbk Previously served as the Ambassador of the Republic of Indonesia to the Russian Federation and Republic of Belarus Previously Minster of Justice and Human Rights of the Republic of Indonesia Ashish Gupta Commissioner Ronald Sutardja President Director Commissioner since 2021 Over 20 years of corporate finance and investing experiences across industries such as financial services, technology, media, natural resources and infrastructure Currently Managing Director of Tiga Investments Previously Managing Director and Partner at Farallon Capital Management Rani Sofjan Director Nurdin Zainal Independent Commissioner Independent Commissioner since 2009 Retired Major General of the Indonesian Military Previously, among others, Deputy Assistant of Security for Army Chief of Staff, Chief of Staff at Regional Military Command 17 Trikora, Commander of Regional Military 17 Trikora Peter John Chambers Independent Commissioner Independent Commissioner since 2021 Over 25 years of experience in finance, telecommunications and investment oversight Currently advisor to Farallon Capital and Lippo Karawaci, and serves on a number of Boards and Board Committees, including Siloam Hospitals, PT BUMA, Indomines Pty Ltd, PT Kredit Pintar and Lippo Karawaci Una Lindasari Director - STRICTLY CONFIDENTIAL - Delta Dunia Board of Directors President Director of Delta Dunia since 2021 Previously President Director at BUMA Previously held various senior roles in PT Trikomsel, Northstar Group, etc Director of Delta Dunia since 2009 Also serves as a Managing Director of PT Northstar Pacific Capital Director of Delta Dunia since 2021 Had served in BUMA since 2014 as Director Previously a CFO in Noble Group Indonesia and financial controller in BP Indonesia 24#255 Dedicated management team with significant industry experience and expertise Delta Dunia Operational excellence underpinned by a strong and highly experienced management team with long tenures in the company BUMA Senior Management BUMA Australia Senior Management Sorimuda Pulungan President Director President Director of BUMA since 2021 Previously Director at BUMA from 2012 to 2021 Previously held various senior roles in PT Aurora Gold, PT INCO Tbk, etc. Experience in mining industry (gold/nickel/coal) Indra Kanoena Vice President Director Vice President Director of BUMA since 2021 Previously Director at BUMA from 2013 to 2021 Previously held various senior role in PT INCO Tbk, PT HM Sampoerna Tbk, etc. Experience in Human Resources and heavy equipment maintenance management Iwan Salim Director Colin Gilligan CEO BUMA Australia Ryan Kirkwood General Manager - Plant General Manager - East and EGM with Downer since 2018 25 years of global mining experience at companies including Angloamerican, Thiess, Mitsui, Downer and GPR in executive and director roles General Manager Plant for all of Downer Mining since 2019 Focused on Asset and Operations Management Over 15 years of experience in Asset Management covering mining, utilities and asset infrastructure at Thiess and Ventia Director of BUMA since 2019 Previously as Regional Manager Asia and Middle East in Shell Global Engineering Experience in Energy sector lan Briggs General Manager - Legal and Risk General Manager - Legal and Risk for Downer Mining since 2013 Over 30 years of experience covering private practice and corporate legal roles, he was a partner of a major Australian law firm for 17 years and has led corporate legal teams working on projects, compliance and disputes in the construction and resources sectors for the past 8 years. Peter Setiawan Director Director of BUMA since 2021 Held various roles in BUMA including General Manager of Finance, Budget, and Reporting, Accounting Manager at BUMA from 2010 to 2021 Experience in Big 4 accounting firms Neil Reynoldson General Manager - HST General Manager - Health, Safety, Training and Sustainability with Downer Mining since 2018 Over 30 years of Australian mining experience at companies such as Peabody, BMA, Yancoal and Downer, he has worked on both contractor and owner operated mines Hanno Nieuwoudt General Manager - HR Human Resources and Organisational Development professional with over 23 years experience spanning Construction, Aggregates, Cement and Mining industries in global fortune 500 companies - WBHO, Holcim, Cement Australia, Peabody Australia Certified Executive Coach with qualifications and experience in employee development, mentorship, talent management and HR systems - STRICTLY CONFIDENTIAL - 25#26Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix AVAVAVA Delta Dunia - STRICTLY CONFIDENTIAL - 26#27Overview of Mining Services Provides overburden removal, coal mining and coal transportation services Planning and scheduling of mining operations within parameters set by the mine owners BUMA work scope covers the full mining production spectrum' Delta Dunia Coal mining contract miners play a critical role in the Indonesian coal industry Business Process BUMA D Top Soil Disposal G Top Soil Removal Overburden Disposal A Mine Survey & Plan B Land Clearing Office Workshop Hot Seat Shift Change από Overburden Drilling & Blasting OOF Overburden Removal AA Mess H Coal Mining Coal Shipment Stockpile & Port J Top Soil Placement Pit Stop Run of Mine K Coal Transport Rehabilitation BUMA allows mining companies to efficiently manage capital by focusing on asset development and reducing capital investment on fixed assets BUMA has started extending its capabilities into the related mining infrastructure space, hence being better able to provide a broader service offering to its key coal mining customers Note: ' Mining is carried out by mine owner with BUMA personnel/equipment under equipment rental arrangements - STRICTLY CONFIDENTIAL - 27#28Operational Strategies • OOOOO Process Improvement Streamline Processes • Cost Reduction Cost Efficiency Initiatives - Maintenance Delta Dunia Digital Maintenance • • Digitizing our manual maintenance procedures (WICOPE) Streamlining maintenance process while producing more accurate and higher quality results Further improving control over the maintenance process and providing more efficient inventory management. Predictive Maintenance and EHMS Improved condition-based monitoring of equipment health, allowing for more effective and longer component life extension Utilizing artificial intelligence to better and more accurately predict the needs for maintenance and devise most effective maintenance plans, therefore streamlining maintenance process, reducing manhours, and reducing cost. Addressing Mineplan Issues Direct Dumping • Soft material issues at one of the largest site has created productivity challenges Previous dumping method requires blending of soft material with hard material to prevent dangerous area throughout site. Lack of blending material delays production process Direct dumping uses channeling method whereby soft materials or mud can be channeled directly to specific disposal area that will not impact operations Managing Unpredictable Weather Various planning scenarios for multiple rain hours assumptions ensuring better planning and preparation against unpredicted weather Optimize time loss during rain by using for other activities such as maintenance to reduce down time during high-production period. Post-recovery management: ensuring the sufficient availability of equipment necessary to reduce slippery hours such as graders and pumps for optimized use. Managing fleet post rain to ensure lowest incremental cost - STRICTLY CONFIDENTIAL - 28#29Company Overview Financial Overview wwwwww Key Investment Highlights Mining Services Overview Appendix AVAVAVA Delta Dunia - STRICTLY CONFIDENTIAL - 29#30Consolidated Performance - 1Q 2022 Consolidated Statements of Financial Position Delta Dunia Consolidated Statements of Profit or Loss and OCI Cash and cash equivalents In US$ mn (unless otherwise stated) Other financial assets - current Mar-22 Dec-21 YTD In US$ mn (unless otherwise stated) Mar-22 Mar-21 YOY 138 194 -29% Net revenues 332 160 108% 18 26 -32% Revenue excl. fuel 291 145 102% Trade receivables - current 323 295 9% Other current assets 188 158 19% Cost of revenues Gross profit (301) (152) 98% 31 8 300% Fixed assets - net 852 849 0% Operating expenses (18) (9) 97% Other non-current assets 114 114 0% Finance cost (15) (23) -37% TOTAL ASSETS 1,633 1,636 0% Others - net 3 (6) -154% Pretax profit 2 (30) -106% Trade payables LT liabilities - current Other current liabilities 187 253 -26% Tax expense (2) 5 -146% 116 100 16% Profit (loss) for the period (0) (25) -98% 125 121 3% Other comprehensive income (loss) - net (1) (0) 778% LT liabilities - non current Other non-current liabilities TOTAL LIABILITIES 873 830 5% Comprehensive income (loss) (1) (25) -94% 71 66 7% EBITDA 70 31 122% 1,371 1,370 0% 2) Basic EPS (in Rp) ´ (0) (42) -100% TOTAL EQUITY 261 266 -2% Notes: Financial Ratios 1) Mar-22 Mar-21 1) Margins are based on net revenues excluding fuel 2) Reported Basic EPS translated into Rp using average exchange rate of Rp 14,346 and Rp 14,185 for 1Q22 and 1Q21 respectively.. Gross margin 10.7% 5.4% Operating margin 4.6% -0.9% EBITDA margin 23.9% 21.8% Pretax margin Net margin 0.6% -20.9% -0.2% -17.7% - STRICTLY CONFIDENTIAL - 30#31Quarterly Progression Delta Dunia US$m, unless stated 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Volumes Overburden Removal 81.2 61.2 52.1 65.0 77.0 90.4 94.0 123.5 (m bcm) Coal (mt) 10.3 11.5 11.4 12.7 12.3 13.9 14.9 18.3 Key Financials Revenue 158 142 108 160 189 248 314 332 39 49 13 31 42 77 84 70 EBITDA EBITDA Margin 26.0% 37.0% 12.8% 21.8% 24.6% 33.3% 29.8% 23.9% Operating Profit 2 15 (21) (1) 8 35 40 13 Net Profit/(Loss) 15 4 (19) (26) (7) 17 16 (0) Unit Financials (US$) Cash costs ex fuel per bcm 1.15 1.09 1.19 1.34 1.24 1.35 1.70 1.46 Cash costs ex fuel per bcm/km 0.40 0.40 0.45 0.49 0.45 0.42 0.58 0.48 - STRICTLY CONFIDENTIAL - 31#32Cash Costs BUMA's cash cost ex fuel (1Q 2022) Rental 6% Lubricants 3% Tires 5% Drilling & blasting. 4% Overhead & office _ 10% Others 10% Delta Dunia Spare parts & maintenance 30% Employee compensation 33% ▸ The management team led the business to navigate through the prolonged downturn in 2020, focusing on optimizing asset utilization, strategically reducing capex, efficient inventory management and prudently reducing costs ►1Q 2022 costs have included BUMA Australia, which has employee compensation as their biggest cost component vs BUMA Indonesia having spare parts & maintenance. ➤ 1Q 2022 still includes upfront costs in order to facilitate growth efforts, unusually high-rainfall condition in the quarter causing higher costs. Benefits of those upfront costs start to be visible this year and when volume have fully ramped-up. ▸ Technology driven initiatives continued to be pursued and are expected to reduce costs sustainably going forward 32 - STRICTLY CONFIDENTIAL -#33ESG Programme Our Sustainability Framework KEY STRATEGY Operational Excellence Delta Dunia Diversification to support Low Carbon Economy Transition Cross cutting ESG factors SUSTAINABILITY KEY PROGRAMS Safety Providing safe and healthy workplace through operational excellence and technology ■Safety Leadership ■Fatigue management ■Hazard & Risk ■Remote Health Optimize Optimization on operational excellence and asset utilization with technology to drive efficiency and sustainability Adaptive mine planning and e-GMP Predictive maintenance Digital maintenance Ownership Fostering sense of ownership and competencies in employees and developing future talent pipeline ■Industrial Class (BO-BM) ■DESA (teamwork) ■Multiple Versatility and e-Learning Eco-efficiency Responsible mining through good mining practices which continue to drive efficiency ■Water conservation ■Waste recycle ■Fuel efficiency Community Empowerment of community and society to improve quality of life Local business development Climate Strengthen resilience and adaptive capacity to climate related hazards and natural disasters Local education support Annual tree plantation program KEY ENABLERS Corporate Governance | Risk Management | Compliance Management | Transparency - STRICTLY CONFIDENTIAL - 33#34THANK YOU Howwwwww AWAWAWAWAY Delta Dunia AVAVAVA 34 - STRICTLY CONFIDENTIAL -