COAL MINING The Group’s coal mining operations form the core of its business, anchored by three mining concessions, namely Sungai Danau Jaya (“SDJ”) and Tanah Bumbu Resources (“TBR”) located in South Kalimantan and Triaryani (“TRA”) located in South Sumatera, Indonesia. These assets produce premium quality, low-ash and low-sulphur thermal coal that is well suited for power generation across key Asian markets. The Group also owns a 49% equity stake in PT Internasional Prima Coal (“IPC”) in Kalimantan, Indonesia as a joint venture with PT Bukit Asam Tbk, a state-owned coal mining company and one of the largest coal producers in Indonesia. During the year, TRA has completed additional drilling to support its mining operations. With 2P coal reserves of more than 300 million tonnes, the Group aims to progressively scale up TRA’s coal production to 20–25 million tonnes per annum, positioning it as a key growth driver for the Group’s long-term expansion. The Group continues to strengthen its foundation in the global energy sector by focusing on high-quality coal extraction, responsible mining practices and sustainable development. Its concessions in Indonesia remain a critical asset, positioning the Group to continue playing a significant role in coal production for years to come, even as the global energy landscape transitions toward more sustainable sources of power. Looking ahead, the Group will continue to explore opportunities to acquire additional mining concessions to enhance production capacity and diversify its portfolio, supporting long-term growth and value creation. ROAD AND JETTY INFRASTRUCTURE The Group’s road and jetty infrastructure is being developed through MBJ, which is constructing an integrated logistics corridor in South Sumatera, Indonesia. The infrastructure comprises a dedicated hauling road and jetty facility designed to support large-scale coal transportation and export activities in the region. The development of the MBJ Integrated Infrastructure is on track for completion in June or July 2026. Upon completion, the infrastructure is expected to have an annual throughput capacity of approximately 40 to 50 million tonnes, serving as a critical logistical backbone for coal producers operating in the South Sumatera basin. 06
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