6.7 6.1 4.8 39.2 62.7 20.0 6.5 4.1 3.8 5.2 4.4 2.3 8.1 TBS Company Presentation First Semester 2016

1H 2016 Operational 1H15 1H16 Δ Production Vol 3.0

2.8 6.7

Sales Vol 3.3

2.8 6.1

Stripping Ratio x 12.5

13.1 4.8

Sales 190.8 139.0 27.1 EBITDA 29.8

22.0 26.2

Net Profit 15.3

9.3 39.2

Financial 1H15 1H16 57.3 NEWC Index 50.9

18.8 62.7

ASP 45.4 20.8 mn ton mn ton USton USton US mn US mn US mn Δ EBITDAton 9.0

7.2 20.0

USton Focused on profitable production output through optimization of :  Infrastructure and connectivity sharing hauling road, coal processing plants CPP, jetties  Joint mine plan between three adjacent operating mines  Competitive premium coal pricing driven by strong coal branding from consistency in scheduled deliveryproduct quality and established customer relationship with diversified customer base  Average Selling Price ASP outperformance relative to benchmark Newcastle due to sale executions based on well-timed predictions in market trends Note: 1 EBITDA = Gross Profit – selling expenses – GA + depreciation and amortization 2008 2009 2010 2011 2012 2013 2014 2015 2016 ABN IM TMU G u id a n c e Annual Coal Production Mt : In Million Tons

5.6 6.5

5.0 - 7.0 8.1

 Production volume rose from only 800K tons in 2008 to 6.1 mn tons in 2015, booking CAGR growth of 33.6 over 8 years  2015 overall results from subsidiaries came in line with 2015 annual guidance  With strategy to sustain certain margin, while preserving life-of-mine LoM reserves, 2016 production guidance is estimated at 5.0-7.0 mn tons  2016 Stripping Ratio SR is expected to stabilize at 11x- 12x, as per the mine plan Cumulative production achievement 10 Mt Cumulative production achievement 20 Mt

5.2 4.1

0.8 2.0

2008 2009 ABN Mt IM Mt

0.1 1.1

0.7 0.9

0.8 2.0

Production Vol. Mt 2010 2011

3.1 3.8

1.0 1.4

4.1 5.2

2012 4.4

1.0 5.6

2013 2014

4.2 4.4

1.4 2.3

6.5 8.1

TMU Mt SR x - - 11.9x 10.5x - - 9.9x 12.7x

0.2 14.9x

0.9 1.4

13.4x 13.3x 2016E 3.6-5.0 0.5-0.7 5.0-7.0 0.9-1.3 11x-12x 2015 6.1

3.9 1.2