Jakarta, September 1st, 2026 – PT Bukit Asam (Persero) Tbk (PTBA) announced its consolidated financial results for the six-month period ended June 30th, 2026 (1H2026).

President Director Bambang Ismawan stated:

“As operating conditions became more favorable, the Company successfully drove a recovery in production while strengthening export sales performance, both quarter-on-quarter and year-on-year. Amid the momentum of rising global coal prices, the Company capitalized on market opportunities through adaptive sales strategies, backed by careful and targeted cost-efficiency programs. These achievements reflect the Company's ability to capture market momentum effectively while maintaining operational discipline and cost efficiency as the foundation for sustainable growth.”

Highlights

• PTBA recorded a net profit of IDR2.65 trillion and EBITDA of IDR4.27 Trillion, with net profit margin and EBITDA margin reaching 12% and 19%, respectively.
• PTBA recorded a recovery in operational performance in the second quarter of 2026, marked by quarter-on-quarter (QoQ) improvements in both production (up 94%) and sales (up 8%). Additionally, the average selling price (ASP) rose by 14% QoQ and 10% year-on-year (YoY).
• In terms of capital expenditure realization, as of 1H 2026, 30% of the annual target has been achieved, equivalent to IDR1.09 trillion.

GUIDANCE FY26 PT BUKIT ASAM (PERSERO) TBK

• Production Volume            : 49.55 Million Tonnes.
• Sales Volume                     : 49.51 Million Tonnes.
• Transportation Volume        : 41.00 Million Tonnes.
• Stripping Ratio                   : 5.63x
• Capital Expenditure             : IDR3.64 Trillion.

Operational Performance

(in tonnes unless otherwise stated for stripping ratio)

	1H26	1H25	Changes
Production Volume	19,449,609	21,729,252	-10%
Coal Transportation	18,150,923	19,274,762	-2%
Sales Volume	21,099,817	21,624,686	-2%
Domestic	10,769,719	11,779,456	-9%
Export	10,330,098	9,845,230	+5%
Stripping Ratio	5.26	6.17	-15%

Financial

Performance

(in million Rupiah unless otherwise stated for earnings per share)

Income Statement	1H26	1H25	Changes
Revenue	22,027,901	20,452,391	8%
Cost of Goods Sold	17,780,740	18,205,496	-2%
Gross Profit	4,247,161	2,246,895	89%
Operating Profit	2,823,846	914,636	209%
Net profit for the year attributable to owners of the parent entity	2,649,899	833,044	218%
Earnings per Share (EPS)	230	72	219%
EBITDA	4,272,455	2,197,510	94%
Balance Sheet	30 Jun 26	31 Dec 25	Changes
Total Assets	48,102,422	43,917,063	10%
Total Liabilities	22,763,845	21,300,262	7%
Total Equity	25,338,577	22,616,801	12%
Cash	6,875,929	4,522,194	52%
Bank Borrowings	2,416,434	3,227,525	-25%

1H2026 Financial Performance Analysis CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Revenue and Average Selling Price

PTBA recorded revenue of Rp22.03 trillion through the end of June 2026, an 8% year-on-year (YoY) increase. Although sales volume declined by 2% YoY, the Newcastle Index rose by 25% YoY and the ICI-3 by 15% YoY, resulting in a 10% YoY increase in the average selling price. Regarding the sales mix for the period ending June 2026, domestic sales accounted for 51%, while exports made up the remaining 49%. By the end of this period, the top five export destinations were Vietnam, Bangladesh, Cambodia, India, and Thailand.

Cost of Goods Sold and Operating Expenses

Cost of goods sold amounted to IDR17.78 trillion, representing a 2% decrease year-on-year. This decline was in line with lower operational volumes, with coal production down by 10% YoY and transportation volume decreasing by 6% YoY. Also, the stripping ratio improved to 5.26x compared to 6.42x in the same period of the previous year.

Meanwhile, the conflict in the Strait of Hormuz in late February 2026 resulted in fuel prices rising to IDR19,503 per liter as of June 30, 2026, representing a 34% increase YoY. The increase in fuel prices resulted in higher fuel costs for the Company, particularly for mining services and rail transportation. Despite these headwinds, the Company successfully kept its operating costs under control through targeted efficiency programs and sustained operational discipline.

In addition, on a year-on-year basis, operating expenses increased by IDR184.84 billion, or 13%, compared to the same period last year. This increase was primarily driven by higher general and administrative expenses.

Finance Income, Finance Costs, and Share in Net Profit of Associates and Joint Ventures The Company recorded finance income of IDR108.58 billion, a 6% year-on-year increase driven primarily by gains from foreign exchange fluctuations. Financial expenses stood at IDR98.99 billion, down 25% year-on-year, reflecting a reduction in interest expenses on bank loans. Meanwhile, the share of net profit from associates and joint ventures amounted to IDR438.30 billion, a significant increase from the IDR209.86 billion recorded in the same period last year.

Net profit for the year attributable to owners of the parent entity: IDR2.65 trillion

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Total Assets

Total assets as of June 30, 2026, were recorded at IDR48.10 trillion, a 10% increase from the IDR43.92 trillion recorded at the end of 2025. This was primarily driven by an increase in the Company's cash and cash equivalents and trade receivables, alongside the growth in the Company's revenue.

Total Liabilities and Equity

Total liabilities as of June 30, 2026, rose by 7% from IDR21.30 trillion at the end of December 2025 to IDR22.76 trillion. Meanwhile, equity increased by 12% from IDR22.62 trillion at the end of December 2025 to IDR25.34 trillion as of June 30, 2026.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Cash Flows from Operating Activities

Net cash flows from operating activities increased from IDR2.22 trillion to IDR4.63 trillion, representing a 108% YoY growth. This increase was primarily driven by an increase in cash receipts from customers.

Cash Flows from Investing Activities

Net cash used for investing activities decreased from IDR1.34 trillion in the previous period to IDR1.26 trillion for the period ending June 30, 2026. This decrease was primarily driven by a reduction in the acquisition of property, plant, and equipment and bearer plants.

Cash Flows from Financing Activities

Net cash flows used for financing activities increased from IDR1.00 trillion in the previous period to IDR1.06 trillion as of June 30, 2026. This increase was in line with bank loan repayments.

Capital Expenditures

Capital expenditure as of June 30, 2026, was realized at IDR1.09 trillion, with the majority allocated to the development of coal transportation on the Tanjung Enim–Kramasan railway route.