12.3 Sales volume decreased by 19.0 in line with Production

Quarterly Production Stripping Ratio SR Production in Thousand Tons Production Summary MT: Million Ton 2014 2015 Change Comment Sales Volume SR x 7.9 6.4

13.3 12.3

19.0

7.5 Sales volume decreased by 19.0 in line with

production adjustment SR contracted resulting in lower mining cost 8.1 6.1 Production volume declined y-o-y to 6.1 mn tons in 2015 in line with mine plan, while ensuring certain margin and optimizing reserve preservation

24.7 Production

Volume Production Summary MT: Million Ton  Q-o-q production volume of 1.5 mn tons in 4Q15 came in line with 2015 quarterly guidance of 1.5 - 2.0 mn tons  2015 SR and quarterly SR stabilized at 12x level, in line with annual and quarterly SR guidance of 11x - 12x  Quarterly SR decreased y-o-y by 12.3 from 13.8x in 4Q14 to 12.1x in 4Q15 12 1,950 1,911 2,160 2,330 1,653 1,505 1,469 1,565 1,529 12.7x 13.5x 13.8x 12.5x 13.8x 12.4x 12.5x 12.0x 12.1x 0.0x 5.0x 10.0x 15.0x 20.0x 500 1,000 1,500 2,000 2,500 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 TOBA Production Volume 000 Stripping Ratio ABN TMU IM PT Kutai Energi Quarterly Production Stripping Ratio Production in Thousand Tons Key Highlights  4Q15 quarterly production increased y-o-y and q-o-q from 4Q14 and 3Q15 respectively, both in line with 2015 internal guidance  SR in 4Q15 edged down q-o-q to 12.6x level from 13.0x in 3Q15, and by 11.3 y-o-y from 14.2x in 4Q14 13 930 904 969 987 994 14.2x 13.1x 13.3x 13.0x 12.6x 0x 5x 10x 15x 20x 840 860 880 900 920 940 960 980 1,000 1,020 4Q14 1Q15 2Q15 3Q15 4Q15 ABN Production Volume 000 Stripping Ratio TMU ABN PT Kutai Energi Quarterly Production Stripping Ratio Production in Thousand Tons Key Highlights  Production increase of 288K tons in 4Q15 came in line with 2015 internal quarterly guidance of 275K - 375K tons  SR in 4Q15 edged up q-o-q and y-o-y respectively 14 493 388 231 319 288 13.3x 12.0x 12.7x 12.2x 13.6x 0x 5x 10x 15x 100 200 300 400 500 600 4Q14 1Q15 2Q15 3Q15 4Q15 IM Production Volume 000 Stripping Ratio ABN IM PT Kutai Energi Note: - - - Hauling road Key Highlights Quarterly Production Stripping Ratio Production in Thousand Tons  4Q15 production volume came in at 247K tons, in line with 2015 internal quarterly production guidance of 225K-375K tons  4Q15 SR on q-o-q and y-o-y basis stabilized at 8.3x and declined by 35.7 from 12.9x respectively due to operational improvement 15 231 213 269 259 247 12.9x 10.4x 9.4x 8.3x 8.3x 0x 5x 10x 15x 50 100 150 200 250 300 4Q14 1Q15 2Q15 3Q15 4Q15 TMU Production Volume 000 Stripping Ratio 16 2015 Financial Highlights 3 Quarterly FOB Cash Cost In USton Notes: 1 FOB Cash Cost = COGS including royalty and selling marketing expense – depreciation and amortization 2 Adj. FOB cash costs = COGS, including selling marketing expense and royalty – depreciation amortization of deferred exploration development costs and excluding deferred stripping cost Constant convergence between FOB cash cost and adjusted FOB cash cost underline normalization of SR over quarterly period resulting from more efficient mine operations 17 60 57 55 55 53 49 49 53 51 50 47 43 41 38 63 52 59 56 51 52 51 54 50 51 46 42 41 38 14.2x 12.1x 15.1x 13.6x 12.7x 12.7x 13.5x 13.8x 12.5x 13.8x 12.4x 12.5x 12.0x 12.1x 0x 3x 6x 9x 12x 15x 18x 21x 20 40 60 80 100 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 FOB cash cost Adj. FOB cash cost SR

51.5 40.7