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2017 Guidance

1

Executive Summary

Total production and sales is Budgeted to be in the range of 16.0 to 18.0

million MT.

ASP anticipated to be in the range of US$ 38.0-42.0 / MT based on the

benchmark reference price being on average US$ 65.0 / MT for the year

Cash costs anticipated to be in the range of US$ 28-32/MT (include COGS,

Royalties, and SGA)

Capex is Budgeted to be in the range of US$ 50.0 to 71.0 million

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Overburden Removal Volume (OB)

Overburden Removal

(million BCM)

(million BCM)

Note : 2016D figures are unaudited figures 2

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FY17 Overburden Removal volume is budgeted to increase principally due to the ramp up at Bara Tabang coupled with increased stripping ratio as a result of strengthening market price at TSA/FKP, PIK and WBM

237.9

159.4

95.8

40.5 32.9

65.0 – 70.0

2012 2013 2014 2015 2016D 2017B

Quarterly Overburden Removal

2016D 2017B

Gunungbayan Pratamacoal - Block II - 4.4 to 5.8

Perkasa Inakakerta 3.5 6.5 to 7.5

Teguh Sinar Abadi/ Firman Ketaun Perkasa 19.3 24.0 to 25.0

Tabang Concessions 9.0 22.0 to 22.2

Wahana Baratama Mining 1.2 8.1 to 9.5

Total 32.9 65.0 to 70.0

(in million BCM)OB

12 - 14

17 - 18 18 - 19 18 - 19

1Q17B 2Q17B 3Q17B 4Q17B

Coal Production

Coal Production

(million MT)

(million MT)

Note : 2016D figures are unaudited figures 3

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FY17 Production Volume is anticipated to increase primarily due to the ramp up in production at Bara Tabang

16.3

13.7

9.6 11.3

9.8

2012 2013 2014 2015 2016D 2017B

16 - 18

Quarterly Coal Production

3.5 - 4.0 4.0 - 4.5 4.2 - 4.7 4.3 - 4.8

1Q17B 2Q17B 3Q17B 4Q17B

2016D 2017B

Gunungbayan Pratamacoal - Block II - 0.2 to 0.4

Perkasa Inakakerta 0.6 0.5 to 1.1

Teguh Sinar Abadi/Firman Ketaun Perkasa 1.9 1.7 to 2.1

Tabang Concessions 6.1 13.0 to 13.4

Wahana Baratama Mining 1.1 0.6 to 1.0

Total 9.8 16.0 to 18.0

(in million MT)Coal Production

Weighted Average Strip Ratio (SR)

Weighted Average Strip Ratio

Note : 2016D figures are unaudited figures 4

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FY17 Weighted Average Strip Ratio is budgeted to increase slightly, primarily due to the planned expansion at TSA/FKP combined with WBM entering a new mining area at a much higher SR.

14.6

11.6 10.0

3.8 3.4 3.5 – 4.0

2012 2013 2014 2015 2016D 2017B

3.2 - 3.5 3.6 - 4.0 3.6 - 4.0 3.9 - 4.1

1Q17B 2Q17B 3Q17B 4Q17B

2016 2017B

Gunungbayan Pratamacoal - Block II - 14.6 to 15.0

Perkasa Inakakerta 6.1 6.5 to 7.0

Teguh Sinar Abadi/ Firman Ketaun Perkasa 10.1 12.0 to 12.5

Tabang Concessions 1.5 1.5 to 1.75

Wahana Baratama Mining 1.0 9.0 to 9.5

Total 3.4 3.5 to 4.0

Weighted Average SR (:1)Weighted Average SR

Quarterly Weighted Average SR

Cash Costs

(US$ / MT)

Average Cash Costs per MT(*) Sing Gas Oil Price(*)

(US$ / liter)

FY17 Average Cash Costs is anticipated to be in the region of US$ 28 to 32/ MT

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*(1) Average cash costs include barging, royalty, and SGA (2) 2016D figures were unaudited figures

78.1 70.6

64.9

43.2

29.8 28.0 to 32.0

2012 2013 2014 2015 2016D 2017

1.1

0.9 0.8

0.5 0.4

0.5 – 0.7

2012 2013 2014 2015 2016D 2017

* Published by ANZ Singapore, including PBBKB and VAT

Coal Sales

Coal Sales Volume

(million MT)

FY17 Budgeted Sales Volume is in the range

of 16 to 18 million tonnes

As of 31 December 2016, Order book at

13.2 million MT of contracted sales volume for 2017

• 55% on fixed price basis

(million MT)

Quarterly Coal Sales

Geographic Distribution 2016- Draft

Note : 2016D figures were unaudited figures 6

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Japan

16.0 14.7

12.0

8.9

13.0

16.0 – 18.0

2012 2013 2014 2015 2016D 2017B

3.8 – 4.2 4.0 – 4.5 4.0 – 4.5 4.2 – 4.8

1Q17B 2Q17B 3Q17B 4Q17B

India, 33%

Malaysia, 14% China , 12%

Japan, 9%

Taiwan, 8%

Indonesia, 7%

Korea, 7%

Others, 10%

Average Selling Price (ASP)

Average Selling Price(*)

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FY17 ASP is anticipated to be in the region of US$ 38.0 to 42.0/ MT; Based on the benchmark reference price being on average US$ 65.0/ MT

* (1) ASP includes coal and non-coal s

(2) 2016D figures were unaudited figures

(US$ / MT) 88.2 77.9

68.8

52.1 42.8 38.0 – 42.0

1.00

11.00

21.00

31.00

41.00

51.00

61.00

71.00

81.00

91.00

2012 2013 2014 2015 2016 2017B

4,200

6,300 CV GAR

Committed and Contracted Sales

Note : December 2016

As at 31 December 2016 committed and contracted sales were 12.5 million MT with an average CV of 4,618 GAR kcal

2017 Fixed Price element at US$

44.06/ MT with an average CV of 4,522 GAR kcal

Additional sales will be made as progressive production targets are met throughout the year

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55%

45%

12.5 million MT

Fixed Price Floating Price

2017

Capital Expenditure

(US$ million)

2017 CAPEX

9

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Major capital projects undertaken

include:

•Road sheeting and road

surfacing at Tabang

•Various site infrastructure at

Tabang to cater for expanded

production

•Various mobile equipment,

predominately at Tabang

•Replacement of two cranes at

BCT

•Dry docking of KFT-1

50.0-71.0

Buildings & Infrastructure

Equipment and Machinery

Office Equipment

Tabang

Pakar

Mamahak

Appendix

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PT Perkasa Inakakerta PIK

PT Teguh Sinarabadi TSA

PT Firman Ketaun Perkasa FKP

PT Wahana Baratama Mining WBM

PT Fajar Sakti Prima FSP

PT Bara Tabang BT

PT Brian Anjat Sentosa BAS

PT Tanur Jaya TJ

PT Silau Kencana SK

PT Orkida Makmur OM

PT Tiwa Abadi TA

PT Sumber Api SA

PT Dermaga Energi DE

PT Bara Sejati BS

PT Apira Utama AU

PT Cahaya Alam CA

PT Mamahak Coal Mining MCM

PT Bara Karsa Lestari BKL

PT Mahakam Energi Lestari MEL

PT Mahakam Bara Energi MBE

PT Graha Panca Karsa GPK

Appendix

11

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Kangaroo Resources Limited KRL

PT Dermaga Perkasapratama DPP

PT Indonesia Pratama IP

PT Muji Lines Muji

PT Bayan Energy BE

PT Metalindo Prosestama MP

PT Sumber Aset Utama SAU

PT Bara Karsa Lestari BKL

PT Karsa Optima Jaya KOJ

Disclaimer

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This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan Resources Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light of new information or future events.

These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trends in demand and prices for coal generally and for our products in particular, the success of our mining activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for planned expansion efforts, as well as other factors. We caution you that these and a number of other known and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ materially from those expressed in any forward-looking statement.

Thank You

For more information, please contact :

investor.relations@bayan.com.sg 13

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