Acquisition of PT Saptaindra Sejati continued

Adaro Energy Annual Report 2008 www.adaro.com 147 Contact Us Governing Adaro Financial Report Corporate Social Responsibility PT ADARO ENERGY Tbk Schedule 515 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued

d. Disposal of PT Padang Anugerah

On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Anugerah “PA” for Rp 1,125 to PT Bumi Alam Sejahtera “BAS” and PT Anugerah Kasih “AK”. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK are entities under common control. 2007 Cash and cash equivalents 1 Amounts due from related parties 1,231 Net assets 1,232 Interest disposed of 90 Net assets disposed of 1,109 Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control 16 Cash received from disposal of subsidiary 1,125 Cash and cash equivalents in PA 1 Net cash inflow from disposal of subsidiary 1,124

e. Disposal of PT Padang Sejahtera

On 28 February 2007, the Company disposed of all of its interest in PT Padang Sejahtera “PS” of 67 to BAS for Rp 838. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company and BAS are entities under common control. 2007 Cash and cash equivalents 2 Amounts due from related parties 1,203 Net assets 1,205 Interest disposed of 67 Net assets disposed of 807 Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control 31 Cash received from disposal of subsidiary 838 Cash and cash equivalents in PS 2 Net cash inflow from disposal of subsidiary 836

f. Disposal of PT Padang Berkat

On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Berkat “PB” to BAS and AK for Rp 1,125. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK are entities under common control. 2007 Cash and cash equivalents 2 Amounts due from related parties 1,230 Net assets 1,232 Interest disposed of 90 Net assets disposed of 1,109 Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control 16 Cash received from disposal of subsidiary 1,125 Cash and cash equivalents in PB 2 Net cash inflow from disposal of subsidiary 1,123