PT Petrosea Tbk Analyst Presentation

Operations Highlights
July 2011
December 2011

Attractive and Visible Growth Supported by a Robust Contract Backlog

Strong Growth in Backlog Over Time
(US$m)

Pre-Indika Post-Indika

1,352

672 459 192 383

739

2006A

2007A

2008A
Bayan

2009A
Kideco

2010A
Santan Batubara

Sep 2011A
ABN

E&C / POSB / Other

Ownership of a High Quality Coal Asset Santan Batubara

Asset Overview
283.7 mt 47.9 mt
Reserves Resources
Santan Batubara Samarinda Balikpapan

Production Volume
(mt)

Sales Volume
(mt)

Average Selling Price

(US$ / t)

2.0 1.6 1.3 1.3

1.1

2.1 1.6 1.2

92.2 74.1 49.1 71.1

'09A

'10A

9m '10 9m '11

'09A

'10A 9m '10 9m '11

'09A

'10A 9m '10 9m '11

Cash Cost
(US$ / t, excluding royalty)

Strip Ratio
(x)

CV (gar) CV (adb) Sulphur Content Ash Content Royalty Corporate Tax Pit-to-Port Distance

5,500 5,800 0.6% 48% 13.5% 25% ~35 km

'09A '10A 42.6 45.8 43.2

61.9
12.6 9.9 9.0 12.1

9m '10 9m '11

'09A

'10A 9m '10 9m '11

Santan Batubara Production Volume for FY 2011 is 1.7 million ton Santan Batubara Sales Volume for FY 2011 is 1.7 million ton Santan Batubara Average Selling Price, Cash Cost and Strip Ratio for FY 2011 are subject to finalization of the audited Financial Statements

Attractive and Visible Growth Supported by Capacity Expansion

Dump Trucks Excavators

Bulldozers

Graders

(1) One fleet typically consists of 1 excavator, 5-8 dump trucks and other auxiliary equipment. Represents 250t equivalent fleet (2) Represents actual volume removed during the period (3) Represents 12 months capacity

2011 Monthly Overburden Removal

(mbcm)

Annual Overburden Volumes

(mbcm)

116 81

10

10

11

10

10

12

72
10 11

53

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

FY '08A FY '09A FY '10A FY '11A

Petrosea Summary Financials

Revenue
(US$m)

Adjusted EBITDA and Margin

(US$m)

Net Income and Margin

(US$m)

Mining

Others

Mining

Others

206 187 172 100 185

61

65

63

41

29
136

14
44
26

33 36

35

28 25
22%

22
157 137 106 114 13% 170
25 26

36%

35%

32%

34%
3% 6

15%

21%

20%

08A '08A

09A '09A

10A '10A

9m '10 9m '11 9m 10 9m 11

08A '08A

09A '09A

10A '10A

9m 10 9m 11 9m '10 '11

08A '08A

(1)

09A '09A(2)

10A(3) '10A

9m '10 9m '11 (5) 10 9m 11 11

(4)

(1) Normalized for US$4m of provision for doubtful debts with respect to the PT Ilthabi Bara Utama contract. (2) Normalized for US$25m of provision for doubtful debts with respect to the PT Ilthabi Bara Utama contract. (3) Normalized for US$1.4m of recovery relating to the reversal of a provision for Petroseas portion of Santan Batubaras accumulated losses as at the end of 2009 and US$0.3m of provision for doubtful debts. (4) Normalized for US$1.4m of recovery relating to the reversal of a provision for Petroseas portion of Santan Batubaras accumulated losses as at the end of 2009 and US$0.5m of provision for doubtful debts. (5) Normalized for US$3.1m increase in depreciation expense due to a change in depreciation method from an hourly utilization basis through 2010 to a straight-line method in 2011. Note: adjusted EBITDA is calculated as operating income plus depreciation. Petrosea did not record any amortization in the shown periods.

Santan Batubara Key Financial Highlights

Revenue
(US$m)

Adjusted EBITDA and Margin

(US$m)

Net Income and Margin

(US$m)

153 44 41
34

113

113
29

30
23

29%

55

20% 2% 2%
1

18

30% 25%

1%

21%

16%

'09A

'10A

9m '10

9m '11

'09A

'10A

9m '10

9m '11

'09A

'10A

9m '10

9m '11

Growth Strategy - Continued Focus on Mining

9M 2008A Revenue Segmentation 9M 2011A Revenue Segmentation

POSB 8%

POSB 7% E&C 6%

Mining 49%

US$206m US$162m
E&C 43%

US$185m

Mining 87%

Health and Safety

US$206m Um

US$185m

LTIR: Lost Time Injury Rate TRIR: Total Recordable Injury Rate

Thank You