Acquisition of Coronado Holdings Pte Ltd and Orchard Maritime Logistics Pte Ltd

Adaro Energy Annual Report 2009 163 www.adaro.com PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 525 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2009 AND 2008 Expressed in million Rupiah, unless otherwise stated

3. ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued

k. Acquisition of PT Sarana Multi Persada continued

Details of the assets and liabilities arising from the acquisition are as follows: 2009 Cash and cash equivalents 5,082 Trade receivables 5,076 Other receivables 11,376 Prepayments 1,523 Fixed assets, net 16,799 Investment in equity securities 1,540 Other assets 102 Trade payables 5,295 Other payables 28,483 Taxes payable 702 Amounts due to related parties 3,549 Finance lease payables 1,081 Provision for employee benefits 823 Minority interest 17 Net assets acquired 1,548 Negative goodwill 1,298 Purchase consideration through cash payment 250 Cash and cash equivalents in Sarana 5,082 Net cash inflow from acquisition of subsidiary 4,832 From this transaction, the Group recognised pre-acquisition income amounting to Rp 1,988. Through its ownership in Sarana, ATA has indirect ownership of 99.83 in MBP and 99.99 in HBI. Through its ownership in OML and Sarana, ATA has indirect ownership of 72 in Marindo and consolidated Marindo’s financial statement which has cash and cash equivalents amounting to Rp 1,444. On 8 December 2009, Sarana increased its authorised shares from Rp 1,000 to Rp 13,800 and issued new shares amounting to Rp 3,200. The issuance of Rp 3,200 new shares were acquired by ATA. There were no changes to the ownership of the Group. The details of the net assets acquired and goodwill are as follows: 2009 Purchase consideration through cash payment 3,200 Fair value of net assets acquired 3,190 Goodwill 10

l. Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.

On 16 and 19 October 2009, the registration of Adaro Finance and MEC, respectively, on Netherlands Chamber of Commerce have been terminated in connection with the liquidation on both companies, which were effective on 2 October 2009. All the assets and liabilities of the liquidated companies have been transferred to their shareholders. On 18 August 2009, Arindo Global was liquidated and all assets and liabilities was transferred to its shareholders. However, the registration of Arindo Global on Netherlands Chamber of Commerce was terminated and be effective on 10 February 2010.