COMPANY

PRESENTATION

1H 2018

2

Company Overview. . .

Company Overview

3

PT TIMAH Tbk at a glance…..

The 2nd largest tin

producer in the world

Building on an impressive

tin history of almost 200 years

Listed at the Indonesia Stock

Exchange (IDX) since 1995

Registered in the

London Metal Exchange (LME) for

Banka Tin & Mentok Tin

The only member ITA

with offshore miningMember of

International Tin Association

Vision & Mission

4

VISION

To be a leading environmental friendly

mining company in the world

MISSION

PT TIMAH Tbk is the second largest tin mining company in the world and is a

member of Holding State-Owned Mining Company

• Building strong, supreme and dignified human

resources

• Implementing the proper & right good

governance for mining

• Optimizing the value of the company and

contribution to the shareholders as well social

responsibility

Ownership Structure and Business Development

5

99,99%

100%

99,99%

99,90%50%50%

100%

100%

100%

100%

100%

99,99%

99,99%

2 3 4

1

Pilar 1 : Tin Mining1

Pilar 2 : Downstream Products2

Pilar 3 : Non-Tin Mining3

Pilar 4 : Competency Based Business4

65% 35%

Republic of Indonesia

owns 1 share of

Series A (Dwiwarna)

Board of Commissioners

6

Fachry Ali

President Commissioner

Experienced as expert advisor for Chief of Police Department, Commissioner at PT Semen

Tonasa, Chairman of the Public Policy Committee for SOE Ministry, Commissioner at PT

Indonesia Kendaraan Terminal, then occupied as Commissioner at PT TIMAH Tbk in 2007

Milawarma

Commissioner

Experienced in mining company for over 20 years with several positions, such as Business

Analyst, Corporate Secretary, Director of Operations & Production, President Director at PT

Bukit Asam Tbk, then joined PT TIMAH tbk as Commissioner in 2016

Satriya Hari Prasetya

CommissionerExperienced as Chief of the Jambi Regional Police, BIN Deputy of Economic Intelligence,

then joined PT TIMAH as Commissioner in 2017

Teuku Pribadi

CommissionerExperienced as Government Officials for years, such as Head of NAD Provincial Infocom

Office, Official of North Aceh Regency, then joined PT TIMAH as Commissioner in 2017

Rudy Suhendar

Commissioner

Experienced in the Ministry of Energy & Mineral Resources for decades, before finally

joining PT TIMAH as Commissioner in 2018

Board of Directors

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M. Riza Pahlevi Tabrani

President DirectorExperienced in Corporate Finance sector over 20 years, before join in PT TIMAH Tbk he

was in PT Perusahaan Gas Negara Tbk as a Chief Financial Officer and also.

Emil Ermindra

Chief Financial Officer

Experienced in Banking sector over 23 years, before join in PT TIMAH Tbk he was in PT

Bank Negara Indonesia (Persero) Tbk as an EVP Strategic Planning Division Head, EVP

Management Office Head, and VP Regional Chief Executive Officer.

Trenggono Sutioso

Director of

Bus.Development

Experienced in Mining over 17 years, before join in PT TIMAH Tbk he was in PT Rio Tinto

Indonesia as Exploration Geologist, PT ANTAM Tbk with several positions such as VP

Exploration, Head of Project Development.

Muhammad Rizki

Director of

Human Resources

Experienced in PT TIMAH Tbk over 20 years with several positions such as Head of

Offshore Operation, Head of Logistic, Head of Metallurgy.

Alwin Albar

Director of Operation

Experienced in PT TIMAH Tbk over 17 years with several positions such as Head of

Business Development, Head of Regional Engineering and Production

Tin Mining Business Process

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Integrated Tin Mining Activities

Onshore

Exploration

Offshore

Exploration Onshore Mining Offshore Mining70% sn (Dry)

Smelting Refining

Tin Metal > 99,90 % Sn

Maks Pb 300 ppm

Export Domestic

EXPLORATION

MARKETING SMELTING & REFINING

MINING WASHING PLANT

Exploration to find

mining area

Tin ore production

Mining activitiesTin ore washing activities to get

higher tin ore concentrate

Smelting & refining process

to produce refined tin

Company Key Business Location

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Key Business Map of PT TIIMAH Tbk

Coal Mining

Head OfficeBangka

Tin MiningOperation Area Coal Mining

Representative Office Jakarta

Tin Mining Operation Area

Nickel Exploitation

PT Timah KaryaPersada Properti

(Property)

PT Dok Perkapalan Air Kantung

(Shipping dockyard)

PT Rumah SakitBakti Timah(Hospital)

PT Timah Industri(Tin Chemical

Tin Solder)

Tin Mining License

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Tin Mining License (“IUP”) area…

Total IUP

Onshore area

Offshore area

TOTAL

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88,492

28,491

116,983

2

-

6,540

6,540

9

13,262

-

13,282

9

30,355

30,910

61,265

1

-

19,594

19,594

45

48,786

41,109

89,895

8

21,845

5,039

28,884

18

23,907

14,358

38,265

4

-

18,875

18,875

Cross District

in Bangka Belitung

Cross District Riau

dan Kepulauan Riau

Bangka

West Bangka

South Bangka

Central Bangka

Belitung

East Belitung

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62,068

19,756

81,824

Provinsi Riau

Karimun

= 127

= 288,716 ha

=184,671 ha

= 473,387 ha

Smelter Kundur,

Capacity 42,000 ton

Smelter Muntok

Capacity 12,000 ton

BANGKA BELITUNG ISLANDS,

RIAU ISLANDS AND RIAU

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Operational Performance..

Operational Highlights PT TIMAH Tbk

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26,204

32,319

26,361 24,121

31,178

16,078 15,122

2013 2014 2015 2016 2017 1H2017 1H2018

Tin Ore Production in Ton

23,718 27,550 27,431

23,756

30,249

14,905 12,366

2013 2014 2015 2016 2017 1H2017 1H2018

Refined Tin Production in Metrics Ton

23,237 26,907

30,087 26,677

29,914

14,404 12,741

2013 2014 2015 2016 2017 1H2017 1H2018

Sales Refined Tin in Ton

22,751 21,686

16,186 18,408

20,429 20,432 21,389

2013 2014 2015 2016 2017 1H2017 1H2018

Average Selling Price $/ton

Operational Highlights PT Timah Industri-Downstream (1/2)

13

- - 14

462

1,147

394

627

2013 2014 2015 2016 2017 1H2017 1H2018

Tin Solder Production in Ton

- - 7

463

1,078

348

676

2013 2014 2015 2016 2017 1H2017 1H2018

Sales Tin Solder in Ton

1,880

1,016 1,551

2,154

5,704

2,647 2,971

2013 2014 2015 2016 2017 1H2017 1H2018

Tin Chemical Production in Ton

1,534 1,197 1,474

2,035

5,119

2,344 2,580

2013 2014 2015 2016 2017 1H2017 1H2018

Sales Tin Chemical in Ton

Operational PT Timah Industri-Downstream (2/2)

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- -

16,571 15,540

20,561 20,327 21,331

2013 2014 2015 2016 2017 1H2017 1H2018

Tin Solder Average Selling Price $/ton

7,161 7,301

5,516 5,758 6,063 5,998

7,508

2013 2014 2015 2016 2017 1H2017 1H2018

Tin Chemical Average Selling Price $/ton

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Financial Performance…

Financial Consolidated Historical Highlights

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5,852

7,518 6,874 6,968

9,217

4,301 4,377

2013 2014 2015 2016 2017 1H2017 1H2018

Revenue – in billion Rupiah

1,443 1,615

686

1,094

1,525

630 675

2013 2014 2015 2016 2017 1H2017 1H2018

Gross profit – in billion Rupiah

1,231

1,534

748

1,047

1,408

570 625

2013 2014 2015 2016 2017 1H2017 1H2018

EBITDA – in billion Rupiah

580 672

101

251

502

151 170

2013 2014 2015 2016 2017 1H2017 1H2018

Net profit for the year – in billion Rupiah

Financial Highlights Production Cost PT TIMAH Tbk

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1.83.1 2.8

0.61.6 1.6 2.3

19.6 19.5 18.8

15.516.7

18.119

0

5

10

15

20

25

FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 1H2018

Cash margin Delivered cost*

The highest

tin price The lower

tin price

*) Delivered cost: Production cost + marketing cost + administrative cost

Maintaining the Cost of Production….

Debt Consolidated Profile Cost of Debt

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6.6%

8.2%9.5% 9.8% 9.4%

8.5%8.0%

2.4% 2.7% 2.4% 2.2% 2.0% 2.3% 2.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 1H2018

Cost of Debt (IDR) Cost of Debt (Rp)

Cost of debt improvement….

Lower Cost of Debt

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Corporate Updated…

Marketing Profile 5 Major Sales Destination

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Sth. Korea

20%

Netherland

11%

USA

6%

Taiwan

6%

Japan

30%

96% As of June 2018 total sales of PT TIMAH amounted to 12,741 ton of which is refined tin sales

of PT TIMAH Tbk almost to meet the overseas market (export) and about 4% to meet the domestic market

Corporate Planning Road Map

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Road Map PT TIMAH Tbk…..

2018 2019 2020 2021 2022

Fixed the

Fundamentals

Tin & Supporting

Business Expansion

Go international Business

Diversification

World Class Tin

Mining Company

To be a leading environmental friendly mining

company in the world

Corporate Planning Grand Strategy

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Grand Strategy of PT TIMAH Tbk…

Capability of Human Resources

Efective & Efficient of Working Capital

To be a leading environmental friendly mining

company in the world

Enviromentally Friendly Business Process (Technology base)

Sinergy Business Group of PT TIMAH Tbk and Other SOE (State Owned Enterprise)

Enlarging

Business

Scale

International

Expansion

Operational

Excellence

Optimalization

for strategic

assets of Non

Operational

Developing

downstream

products of tin

commodity

Developing

supporting

business of tin

mining

1 2 3 4 65

Developing

prospective

business

selectively

7

Stakeholders Management

Corporate Planning – Innovation Technology (1/3)

23

Technology Sub Surface Mining

Corporate Planning – Innovation Technology (2/3)

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Note:

• Slag 1 recorded in the Balance Sheet amounted to 15,000 ton with potential tin ore amounted to 4,000 Sn

• Slag 2 not recorded in the Balance Sheet amounted to 129,000 ton with potential tin ore amounted to 2,000 Sn

• Total Inventory value approx. Rp1,5 billion

• Source of funds Bonds and Sukuk Ijarah

Producing Slang 1 & Slag 2

Capex Rp62 billion

Potential of increasing tin ore

amounted to 6,000 ton Sn

Capacity of 31,000 Mton per years

Technology Fumming 60% Progress of implementation by June 2018.

Estimation of commissioning & commercial November 2018.

Corporate Planning – Innovation Technology (3/3)

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Producing Lower grade Sn (40%-60%)

Capex $56 million

Potential of increasing crude tin

amounted to 30,000-40,000 ton p.a

Capacity of 31,000 Mton per years

Technology Ausmelt

To producing lower Sn (40%-60%) and estimated completion in 2022.

With expectation that this new adopted technology shall support more production of PT TIMAH Tbk

in the future and sustainably of company.

*) Source of fund: Bonds and Sukuk Ijarah

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