Acquisition of PT Alam Tri Abadi

156 Adaro Energy Annual Report 2009 From Us to Y ou Running Adaro Management Report Owning Adaro Governing Adaro Financial Report Contact Us Corporate Social Responsibility Adaro in Summary www.adaro.com PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 518 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

d. Acquisition of Arindo Holdings Mauritius Ltd by Rach Mauritius Ltd

On 24 January 2008, Rach M, a subsidiary of Decimal Investments Ltd “Decimal”, increased its interest in Arindo Holdings, which through Vindoor owns 100 interest in Coaltrade, from 32 to 64, for US1 or equivalent to Rp 9,419 full amount. From this increase, the consolidated financial statements of Arindo Holdings and its subsidiaries were consolidated to the consolidated financial statements of Rach M, ATA and the Group. 2008 Purchase consideration through cash payment - Fair value of net liabilities acquired 40,749 Goodwill 40,749 Details of the assets and liabilities arising from this acquisition are as follows: 2008 Cash and cash equivalents 169,571 Receivables 210,902 Inventories 30,665 Fixed assets, net 423 Goodwill 3,985,825 Payables 351,599 Taxes payable 34,078 Borrowings 4,139,048 Net liabilities 127,339 Interest acquired 32 Net liabilities acquired 40,749 Goodwill 40,749 Purchase consideration through cash payment - Cash and cash equivalents in Arindo Holdings 169,571 Net cash inflow from acquisition of subsidiary 169,571 In 2007, Arindo Holdings was in a net liability position. As a result, loss amounting to Rp 83,989 was not recognised by Rach M with respect to its 32 interest. The unrecognised share of the net loss in Arindo Holdings and the minority interest’s portion of net liabilities in Arindo Holdings was recognised by Rach M in 2008, dating from the increase of Rach M’s interest in Arindo Holdings to 64. At the Group’s consolidation level, the previous unrecognised net loss and minority interest’s portions of the net liabilities were recorded as a reduction in retained earnings amounting to Rp 83,989. e. Acquisition of Ariane Investments Mezzanine Pte Ltd, Ariane Capital Singapore Pte Ltd formerly Kerry Coal Singapore Pte Ltd and Agalia Energy Investments Pte Ltd

i. Acquisition of Ariane Investments Mezzanine Pte Ltd

On 15 July 2008, ATA acquired a 71.15 interest in Ariane Investments Mezzanine Pte Ltd “AIM” for Rp 6,096,115. 2008 Purchase consideration through cash payment 6,096,115 Fair value of net liabilities acquired 162,995 Mining properties and goodwill 6,259,110