PT Dian Swastatika Sentosa Tbk Dan Anak Perusahaan/ And Its Subsidiaries

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Laporan Keuangan Konsolidasian/

Consolidated Financial Statements

Pada tanggal 30 September 2012 (Tidak Diaudit)

dan 31 Desember 2011 (Diaudit)/

serta untuk Periode-periode Sembilan Bulan yang

Berakhir 30 September 2012 dan 2011 (Tidak Diaudit)/

As of September 30, 2012 (Unaudited)

and December 31, 2011 (Audited)/

and for Nine-month Periods Ended

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Page Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian

PT Dian Swastatika Sentosa Tbk dan Anak Perusahaan pada tanggal

30 September 2012 (Tidak Diaudit) dan 31 Desember 2011 (Diaudit) serta untuk Periode-periode Sembilan Bulan yang Berakhir pada Tanggal 30 September 2012 dan 2011 (Tidak Diaudit)/

The Directors’ Statement on the Responsibility for Consolidated Financial Statements of PT Dian Swastatika Sentosa Tbk and Its Subsidiaries as of September 30, 2012 (Unaudited) and December 31, 2011 (Audited) and for Nine-month Periods Ended September 30, 2012 and 2011 (Unaudited)

LAPORAN KEUANGAN KONSOLIDASIAN - Pada tanggal 30 September 2012 (tidak diaudit) dan 31 Desember 2011 (diaudit) serta untuk periode-periode Sembilan bulan yang berakhir pada tanggal 30 September 2012 dan 2011 (tidak diaudit)/

CONSOLIDATED FINANCIAL STATEMENTS - As of September 30, 2012 (unaudited) and

December 31, 2011 (audited) and for nine-month periods ended September 30, 2012 and 2011 (unaudited)

Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position 3

Laporan Laba Rugi Komprehensif Konsolidasian/Consolidated Statements of

Comprehensive Income

5

Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity 6

Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows 7

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30 September 2012/ 31 Desember 2011/ September 30, 2012 Catatan/Notes December 31, 2011

US$ US$

ASET ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan setara kas 267.104.602 2e,2f,2h,2j,5,27,38,39 481.385.444 Cash and cash equivalents Investasi jangka pendek 9.345.540 2e,2f,2i,2j,6,27,38,39 10.367.214 Short-term investments

Piutang usaha 2e,2j,7,20,23,25,27,39 Trade accounts receivable

Pihak berelasi setelah dikurangi penyisihan

piutang ragu-ragu sebesar Related parties - net of allowance for doubtful

US$ 211.029 dan US$ 799.419 accounts of US$ 211,029 and US$ 799,419

masing-masing pada tanggal as of September 30, 2012 and

30 September 2012 dan 31 Desember 2011 61.509.841 2f,38 78.898.747 December 31, 2011, respectively Pihak ketiga - setelah dikurangi penyisihan

piutang ragu-ragu sebesar Third parties - net of allowance for doubtful

US$ 210.953 dan US$ 224.849 accounts of US$ 210,953 and US$ 224,849

30 September 2012 dan 31 Desember 2011 38.884.263 46.535.124 December 31, 2011, respectively

Piutang lain-lain 2e,2j,8,27,39 Other receivables

Pihak berelasi 472.302 2f,38 541.132 Related parties

Pihak ketiga 21.673.754 40 26.044.593 Third parties

Persediaan 37.370.557 2f,2k,9,20,25,38 57.520.854 Inventories

Uang muka 56.172.473 10,40 30.424.211 Advances

Pajak dibayar dimuka 7.338.785 2x 2.276.735 Prepaid taxes

Biaya dibayar dimuka 2.461.935 2f,2m,11,38 4.863.621 Prepaid expenses

Dana yang dibatasi pencairannya - 25 57.344.508 Restricted fund

Jumlah Aset Lancar 502.334.052 796.202.183 Total Current Assets

ASET TIDAK LANCAR NONCURRENT ASSETS

Piutang usaha jangka panjang - pihak berelasi 15.764.003 2e,2f,2j,25,27,38,39 15.904.028 Long-term trade accounts receivable - a related party

Piutang lain-lain 3.683.048 - Other receivables

Biaya dibayar dimuka jangka panjang 4.776.078 2m,11 5.310.363 Long-term prepaid expenses

Taksiran tagihan pajak 6.147.118 2x,36 9.103.102 Estimated claims for tax refund

Investasi saham 45.699.166 2f,2j,2l,12,27,38,39 47.138.999 Investments in shares of stocks Investasi obligasi konversi 174.725.888 2j,13,27,39,40 73.114.224 Investment in convertible bond

Aset pajak tangguhan 5.662.407 2x,36 4.566.851 Deferred tax assets

Properti investasi 4.512.257 2f,2n,2t,14,25,32,33,38,40 4.548.486 Investment properties

Aset tetap - setelah dikurangi Property, plant, and equipment - net of

akumulasi penyusutan sebesar accumulated depreciation of

US$ 231.068.355 dan US$ 215.055.518 US$ 231,068,355 and US$ 215,055,518

masing-masing pada tanggal 2f,2o,2p,2t,15,20, as of September 30, 2012

30 September 2012 dan 31 Desember 2011 267.319.942 25,26,33,34,38 253.606.744 and December 31, 2011, respectively Properti pertambangan - bersih 6.157.934 2r,16 6.627.246 Mining properties - net

Biaya pengupasan tanah yang ditangguhkan 45.695.087 2q,2t,17 10.118.757 Deferred stripping costs Biaya eksplorasi dan pengembangan yang

ditangguhkan - setelah dikurangi Deferred exploration and development costs

-akumulasi amortisasi sebesar net of accumulated amortization of

US$ 5.937.514 dan US$ 4.583.897 US$ 5,937,514 and US$ 4,583,897

30 September 2012 dan 31 Desember 2011 39.374.997 2q,2t,18 35.890.204 December 31, 2011, respectively Aset tidak lancar lain-lain 43.011.959 2e,2f,2j,2r,19,27,34,38,39,40 21.627.773 Other noncurrent assets

Jumlah Aset Tidak Lancar 662.529.884 487.556.777 Total Noncurrent Assets

JUMLAH ASET 1.164.863.936 1.283.758.960 TOTAL ASSETS

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30 September 2012/ 31 Desember 2011/ September 30, 2012 Catatan/Notes December 31, 2011

US$ US$

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Pinjaman bank jangka pendek - 2e,2j,7,9,15,19,20,27,39 26.223.743 Short-term bank loans

Utang usaha 2e,2j,21,27,39 Trade accounts payable

Pihak berelasi 3.636.307 2f,38 7.397.003 Related parties

Pihak ketiga 74.766.048 76.095.574 Third parties

Utang lain-lain 2e,2j,27,39 Other accounts payable

Pihak berelasi 13.919.227 2f,38 428.014 Related parties

Pihak ketiga 1.788.923 4.474.649 Third parties

Uang muka dari pelanggan 2.267.377 6.217.684 Advances from customers

Pendapatan diterima dimuka 31.852 2f,2u - Unearned revenues

Utang pajak 4.590.166 2x,22,36 23.047.266 Taxes payable

Liabilitas anjak piutang - 2e,2f,2j,7,23,24,27,38,39 1.000.000 Factoring payable

Biaya yang masih harus dibayar 10.253.231 2e,2f,2j,20,23,24,25,27,38,39,40 10.771.861 Accrued expenses Liabilitas jangka panjang yang akan

jatuh tempo dalam waktu satu tahun: 2e,2f,27,38,39 Current portion of long-term liabilities:

Pinjaman bank dan lembaga keuangan 33.044.835 2j,7,9,14,15,25 84.187.568 Loans payable to bank and financial institutions

Sewa pembiayaan 1.142.318 2p,15,26 1.104.174 Lease liabilities

Jumlah Liabilitas Jangka Pendek 145.440.284 240.947.536 Total Current Liabilities

LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES

Liabilitas pajak tangguhan 20.761.945 2x,36 21.604.658 Deferred tax liabilities

Utang kepada pihak berelasi - 2f,38 - Due to related parties

Cadangan imbalan pasti pasca-kerja 6.687.958 2e,2w,35,39 6.051.476 Defined post-employment benefits reserve Liabilitas jangka panjang lainnya 2.105.978 2e,2z,39 1.623.417 Other noncurrent liabilities

Liabilitas jangka panjang - setelah dikurangi bagian yang akan jatuh tempo

dalam waktu satu tahun: 2e,2f,27,38,39 Long-term liabilities - net of current portion:

Pinjaman bank dan lembaga keuangan 76.679.415 2j,7,9,14,15,25 100.921.287 Loans payable to bank and financial institutions

Sewa pembiayaan 606.236 2p,15,26 1.471.456 Lease liabilities

Jumlah Liabilitas Jangka Panjang 106.841.532 131.672.294 Total Noncurrent Liabilities JUMLAH LIABILITAS 252.281.816 372.619.830 TOTAL LIABILITIES

EKUITAS EQUITY

Ekuitas yang Dapat Diatribusikan kepada Equity Attributable to Owners

Pemilik Entitas Induk of the Company

Modal saham - nilai nominal Rp 250 per saham Capital stock - Rp 250 par value per share

Modal dasar - 2.400.000.000 saham Authorized - 2,400,000,000 shares

Modal ditempatkan dan disetor - 770.552.320 saham 72.498.628 28 72.498.628 Issued and paid-up - 770,552,320 shares Tambahan modal disetor - bersih 12.650.332 2s,29 12.650.332 Additional paid-in capital - net

Selisih transaksi perubahan kepemilikan Difference arising from change in ownership

pada anak perusahaan 428.558.420 4 428.558.420 interests in subsidiaries

Selisih nilai transaksi restrukturisasi Difference in value of restructuring transactions

entitas sepengendali (2.142.500) 2d (3.020.568) among entities under common control

Keuntungan yang belum direalisasi atas Unrealized gain on increase in value of

kenaikan nilai investasi 2.885.772 2j,12 4.301.855 investments

Selisih kurs penjabaran (16.286.894) 2e (1.790.174) Foreign currency translation adjustment

Saldo laba Retained earnings

Telah ditentukan penggunaannya 300.000 30 200.000 Appropriated

Belum ditentukan penggunaannya 311.263.550 294.258.662 Unappropriated

809.727.308

807.657.155

Kepentingan Nonpengendali 102.854.812 2c,2d,31,45 103.481.975 Noncontrolling Interests JUMLAH EKUITAS 912.582.120 911.139.130 TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS 1.164.863.936 1.283.758.960 TOTAL LIABILITIES AND EQUITY

Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

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US$ US$

PENDAPATAN USAHA 477.088.559 2f,2u,14,32,38,40 414.612.675 REVENUES

BEBAN POKOK PENJUALAN 400.016.026 2f,2u,14,15,33,38,40 316.062.168 COST OF REVENUES

LABA BRUTO 77.072.533 98.550.507 GROSS PROFIT

Pendapatan bunga 13.453.261 2u 2.493.115 Interest income

Laba penjualan investasi obligasi konversi 11.060.469 13 - Gain on sale of investment in convertible bond

Laba penjualan properti investasi Gain on sale of investment properties

dan aset tetap 20.974 2u,14,15 24.005 and property, plant, and equipment

Beban eksplorasi (524.156) 2u,34 (378.550) Exploration costs

Beban bunga dan keuangan lainnya (7.962.351) 2u (13.397.419) Interest expense and other financial charges Kerugian selisih kurs mata uang

asing - bersih (8.245.710) 2e,2u (1.510.189) Loss on foreign exchange - net

Beban penjualan (29.796.335) 2u,2f,15,34,38 (20.043.915) Selling expenses

Beban umum dan administrasi (32.149.866) 2f,2q,2w,15,34,35,38,40 (24.072.917) General and administrative expenses Penghasilan (beban) lain-lain - bersih 5.067.300 2r,2u 3.441.960 Other income (expenses) - net

LABA SEBELUM PAJAK 27.996.119 45.106.597 INCOME BEFORE TAX

BEBAN PAJAK 2x,37 TAX EXPENSE

Kini 7.447.661 11.182.205 Current Tax

Tangguhan (2.227.574) (629.869) Deferred Tax

Beban Pajak - Bersih 5.220.087 10.552.336 Tax Expense - Net

LABA SEBELUM RUGI PRA INCOME BEFORE PRE-ACQUISITION LOSSES

AKUISISI ANAK PERUSAHAAN 22.776.032 34.554.261 OF A SUBSIDIARY

RUGI PRA AKUISISI ANAK PERUSAHAAN 1.507 2d,4 - PRE-ACQUISITION LOSSES OF A SUBSIDIARY

LABA BERSIH PERIODE BERJALAN 22.777.539 34.554.261 NET INCOME FOR THE PERIOD

PENDAPATAN (RUGI) KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME (LOSS)

Foreign exchange differences arising from Selisih kurs atas penjabaran laporan keuangan (20.796.534) 2e 1.019.703 financial statements translation

(Kerugian) keuntungan yang belum direalisasi Unrealized (loss) gain on (decline) increase

atas (penurunan) kenaikan nilai investasi (1.416.083) 2j,12 9.686.094 in value of investments

LABA KOMPREHENSIF PERIODE BERJALAN 564.922 45.260.058 COMPREHENSIVE INCOME FOR THE PERIOD

Laba bersih yang dapat diatribusikan kepada: Net income attributable to:

Pemilik entitas induk 17.104.888 34.370.847 Owners of the Company

Kepentingan nonpengendali 5.672.651 2c 183.414 Noncontrolling interests

22.777.539 34.554.261

(Rugi) laba komprehensif yang dapat

diatribusikan kepada: Comprehensive (loss) income attributable to:

Pemilik entitas induk 1.192.085 45.190.854 Owners of the Company

Kepentingan nonpengendali (627.163) 2c,31 69.204 Noncontrolling interests

564.922

45.260.058

LABA BERSIH PER SAHAM DASAR

DIATRIBUSIKAN KEPADA BASIC EARNINGS PER SHARE ATTRIBUTABLE

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Perubahan Restrukturisasi yang belum Kepemilikan Entitas Direalisasi atas

Pada Sepengendali/ Kenaikan Anak Perusahaan/ Difference in Value (Penurunan) Nilai

Difference Arising of Restructuring Investasi/ Selisih Kurs

Tambahan from Change in Transactions Unrealized Gain Penjabaran/ Kepentingan

Modal Disetor/ Ownership Among Entities (Loss) on Increase Foreign Currency Telah Ditentukan Belum Ditentukan Nonpengendali/

Catatan/ Modal Saham/ Additional Interests in Under Common (Decline) in Value Translation Penggunaannya/ Penggunaannya/ Jumlah/ Noncontrolling Jumlah Ekuitas/

Notes Capital Stock Paid-in Capital Subisdiaries Control of Investments Adjustment Appropriated Unappropriated Total Interests Total Equity

US$ US$ US$ US$ US$ US$ US$ US$ US$ US$

Saldo pada tanggal 1 Januari 2011 72.498.628 12.650.332 - (3.020.568) (8.151.793) 576.591 100.000 261.070.579 335.723.769 198.204 335.921.973 Balance as of January 1, 2011

Pencadangan saldo laba 30 - - - 100.000 (100.000) - - - Approriation of retained earnings

Jumlah laba komprehensif 2e,2j,12 - - - - 9.686.094 1.133.913 - 34.370.847 45.190.854 69.204 45.260.058 Total comprehensive income Saldo pada tanggal 30 September 2011 72.498.628 12.650.332 - (3.020.568) 1.534.301 1.710.504 200.000 295.341.426 380.914.623 267.408 381.182.031 Balance as of September 30, 2011

Saldo pada tanggal 1 Januari 2012 72.498.628 12.650.332 428.558.420 (3.020.568) 4.301.855 (1.790.174) 200.000 294.258.662 807.657.155 103.481.975 911.139.130 Balance as of January 1, 2012

Pencadangan saldo laba 30 - - - 100.000 (100.000) - - - Approriation of retained earnings

Selisih transaksi perubahan kepemilikan Difference arising from change in

pada anak perusahaan 2c,4 - - - 878.068 - - - - 878.068 - 878.068 ownership interests in subsidiaries

Jumlah (rugi) laba komprehensif 2e,2j,12 - - - - (1.416.083) (14.496.720) - 17.104.888 1.192.085 (627.163) 564.922 Total comprehensive (loss) income Saldo pada tanggal 30 September 2012 72.498.628 12.650.332 428.558.420 (2.142.500) 2.885.772 (16.286.894) 300.000 311.263.550 809.727.308 102.854.812 912.582.120 Balance as of September 30, 2012

Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements

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US$ US$

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES

Penerimaan dari pelanggan 509.431.527 402.206.414 Cash receipts from customers

Pembayaran kepada kontraktor, pemasok dan lainnya (505.883.730) (349.396.117) Cash paid to contractors, suppliers and others

Pembayaran kepada karyawan (17.214.629) (16.464.093) Cash paid to employees

Kas bersih (digunakan untuk) diperoleh dari operasi (13.666.832) 36.346.204 Net cash (used in) generated from operations

Pembayaran pajak - bersih (20.945.763) (6.403.108) Tax payments - net

Kas Bersih (Digunakan untuk) Diperoleh dari Aktivitas Operasi (34.612.595) 29.943.096 Net Cash (Used in) Provided by Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES

Pencairan dana yang dibatasi pencairannya 57.344.508 - Proceeds from restricted fund

Perolehan obligasi wajib konversi (101.611.664) (4.533.605) Acquisition of mandatory convertible bonds

Penerimaan bunga 13.453.261 2.493.115 Interest received

Acquisition of property, plant, and equipment and Perolehan aset tetap dan properti investasi (28.690.339) (33.605.041) investment properties

Hasil penjualan aset tetap 30.069 27.269 Proceeds from sale of property, plant and equipment Penurunan (kenaikan) aset tidak lancar 6.285.086 (5.689.139) Decrease (increase) in noncurrent assets

Kas Bersih Digunakan untuk Aktivitas Investasi (53.189.079) (41.307.401) Net Cash Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES

Penerimaan dari: Proceeds from:

Pinjaman bank 4.819.793 31.347.890 Bank loans

Anjak piutang - 10.208.901 Factoring payable

Sewa pembiayaan - 3.550.800 Lease liabilities

Pembayaran: Payments of:

Pinjaman bank dan lembaga keuangan (106.428.141) (34.763.920) Loans payable to bank and financial institutions

Anjak piutang - (7.848.952) Factoring payable

Liabilitas sewa pembiayaan (827.076) (815.595) Lease liabilities

Bunga dan beban keuangan lainnya (7.962.351) (13.397.419) Interest and other financial charges

Biaya emisi saham (252.536) - Stock issuance costs

Dividen (1.089.491) - Dividends

Kas Bersih Digunakan untuk Aktivitas Pendanaan (111.739.802) (11.718.295) Net Cash Used in Financing Activities

PENURUNAN BERSIH KAS DAN SETARA KAS (199.541.476) (23.082.600) NET DECREASE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT THE BEGINNING KAS DAN SETARA KAS AWAL TAHUN 481.385.444 68.784.724 OF THE YEAR

Pengaruh perubahan kurs mata uang asing (14.739.366) 1.510.189 Effect of foreign exchange rate changes

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1. Umum 1. General

a. Pendirian dan Informasi Umum a. Establishment and General Information

PT Dian Swastatika Sentosa Tbk

(Perusahaan) didirikan berdasarkan Akta No. 6 tanggal 2 Agustus 1996 dari Linda Herawati, S.H., notaris di Jakarta, yang kemudian diubah dengan Akta Perubahan No. 35 tanggal 8 Oktober 1996 dari notaris

yang sama. Akta pendirian dan

perubahannya telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan

No. C2-9854.HT.01.01.TH.96 tanggal

28 Oktober 1996 serta diumumkan dalam

Berita Negara Republik Indonesia

No. 46 tanggal 10 Juni 1997, Tambahan No. 2258.

PT Dian Swastatika Sentosa Tbk

(the Company) was established on

August 2, 1996 based on Notarial Deed No. 6 and was amended by Notarial Deed No. 35 dated October 8, 1996, both of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendments were approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter

No. C2-9854.HT.01.01.TH.96 dated

October 28, 1996 and was published in the State Gazette of the Republic of Indonesia No. 46 dated June 10, 1997, Supplement No. 2258.

Anggaran Dasar Perusahaan telah beberapa

kali mengalami perubahan, termasuk

penyesuaian Anggaran Dasar Perusahaan

terhadap Undang-Undang Republik

Indonesia No. 40 Tahun 2007 tentang Perseroan Terbatas pada tahun 2008/2009, pelaksanaan penawaran umum perdana

saham (IPO) dan perubahan status

Perusahaan menjadi Perseroan Terbatas Terbuka pada tahun 2009, dan perubahan yang terakhir berdasarkan Surat Keputusan Para Pemegang Saham PT Dian Swastatika Sentosa yang didokumentasikan dalam Akta No. 55 tanggal 28 Agustus 2009 dari Linda Herawati, S.H., notaris di Jakarta, mengenai perubahan maksud dan tujuan serta kegiatan usaha Perusahaan sebagaimana tercantum dalam pasal 3 Anggaran Dasar Perusahaan meliputi penyediaan listrik, perdagangan besar, jasa dan pembangunan perumahan dan infrastruktur. Perubahan Anggaran Dasar Perusahaan yang terakhir telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-42753.AH.01.02.Tahun 2009 tanggal 1 September 2009.

The Articles of Association have been amended several times, including the revisions in the Company’s entire Articles of Association to be in accordance with the Provisions of Republic of Indonesia Law No. 40 Year 2007 regarding Limited Liability Company in 2008/2009, the Initial Public Offering (IPO) and the change in the Company’s status to be a Listed Company in 2009, and the latest based on the Decision Letter of the Stockholders of PT Dian Swastatika Sentosa documented in Notarial Deed No. 55, dated August 28, 2009 of Linda Herawati, S.H., public notary in Jakarta, in accordance with article 3 of the Company’s Articles of Association, the scope of its activities was changed to engage mainly in generation of electricity and steam, trading, services and real estate and infrastucture. Latest amendment of the Company’s Articles of Association was approved by the Ministry of Law and Human Rights of the Republic Indonesia in its Decision Letter No. AHU-42753.AH.01.02. Tahun 2009 dated September 1, 2009.

Perusahaan mulai beroperasi secara

komersial pada tahun 1998. Perusahaan berkantor pusat di Jakarta, sedangkan pembangkit tenaga listrik dan uap berlokasi di Tangerang, Serang dan Karawang.

The Company started its commercial activities in 1998. The Company’s domicile is in Jakarta, while its power plants are in Tangerang, Serang and Karawang.

Dalam laporan keuangan konsolidasian, Perusahaan dan anak perusahaan secara bersama-sama disebut sebagai “Grup”.

In the consolidated financial statements, the Company and its subsidiaries are collectively referred to as “the Group”.

Perusahaan tergabung dalam kelompok usaha Sinarmas.

The Company operates under the Sinarmas group of business.

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b. Penawaran Umum Efek Perusahaan b. Public Offering of Shares

Pada tanggal 30 November 2009,

Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam dan LK) melalui surat No. S-10344/BL/2009 untuk penawaran umum perdana atas 100.000.000 saham Perusahaan dengan nilai nominal Rp 250 per saham kepada masyarakat dan telah dicatatkan pada Bursa Efek Indonesia pada tanggal 10 Desember 2009.

On November 30, 2009, the Company obtained the Notice of Effectivity from the Chairman of the Capital Market and

Financial Institutions Supervisory

Agency (Bapepam-LK) in his Letter No. S-10344/BL/2009 for its offering to the

public of 100,000,000 shares at

Rp 250 per share. On December 10, 2009, all of these shares were listed in the Indonesia Stock Exchange.

Pada tanggal 30 September 2012 dan 31 Desember 2011, seluruh saham Perusahaan atau sejumlah 770.552.320 saham telah tercatat di Bursa Efek Indonesia.

As of September 30, 2012 and

December 31, 2011, all of the Company’s shares totaling to 770,552,320 shares are listed in the Indonesia Stock Exchange.

c. Anak Perusahaan yang Dikonsolidasikan c. Consolidated Subsidiaries

Perusahaan mempunyai penyertaan saham, baik secara langsung maupun tidak langsung pada anak-anak perusahaan berikut ini:

The Company’s subsidiaries owned directly or indirectly are as follows:

Tahun Operasi Komersial/

Start of Domisili/ Jenis Usaha/ Commercial

Domicile Nature of Business Operations 30 Sep 2012 31 Dec 2011 30 Sep 2012 31 Dec 2011

% % US$ US$

Pemilikan Langsung/Direct Ownership:

PT Golden Energy Mines Tbk (GEM) Jakarta Perdagangan batubara/ 2010 66.999 66.999 367,776,474 366,155,923 Coal trading

PT Rolimex Kimia Nusamas (RKN) Jakarta Perdagangan/Trading 1989 99.504 99.504 64,463,392 93,051,835

PT Bumi Kencana Eka Sejahtera (BKES) Jakarta Perdagangan batubara/ 2011 99.999 99.998 67,575,583 55,926,637 Coal trading

PT DSSP Energi Sejahtera (DSSE) Jakarta Perdagangan, pembangunan, - 99.900 - 37,653,000 -industri dan jasa/

Trading, development, industry and services

PT DSSA Mas Sejahtera (DSSM) Jakarta Perdagangan, pembangunan, - 99.981 - 5,538,238 -industri, jasa dan pengangkutan/

Trading, development, industry, services and logistic Pemilikan Tidak Langsung/Indirect Ownership:

PT Roundhill Capital Indonesia (RCI) Jakarta Penyertaan saham/ - 67.325 67.325 101,245,310 83,335,032 (melalui/through GEM) Holding company

PT Borneo Indobara (BORNEO) Jakarta Pertambangan batubara/ 2005 66.699 66.699 100,729,987 82,789,264 (melalui/through RCI) Coal mining

PT Kuansing Inti Makmur (KIM) Jambi Perdagangan dan 2005 66.998 66.998 79,153,098 55,400,977 (melalui/through GEM) eksplorasi batubara/

Trading and coal exploration

PT DSSP Power Sumsel (DSSP) Jakarta Penyediaan tenaga listrik/ - 99.865 98.350 37,442,941 7,608,352 (melalui/through DSSE ) Generation of electricity

PT Buana Bumi Energi (BBE) Jakarta Penyediaan tenaga listrik/ - 99.800 - 207,319 24,471 (melalui/through DSSM ) Generation of electricity

Kepemilikan Efektif/ Effective Ownership (Sebelum Eliminasi)/ Anak Perusahaan/Subsidiary Jumlah Aset Total Assets

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- - 10

Tahun Operasi Komersial/

Start of Domisili/ Jenis Usaha/ Commercial

Domicile Nature of Business Operations 30 Sep 2012 31 Dec 2011 30 Sep 2012 31 Dec 2011

% % US$ US$

PT Sinarmas Sukses Sejahtera (SSS) Jakarta Perdagangan, industri, dan - 99.901 - 9,756 -(melalui/through DSSM) jasa/

Trading, industry, and service

PT Bara Harmonis Batang Asam (BHBA) Jambi Pertambangan batubara/ 2010 66.999 66.999 35,946,162 33,951,344 (melalui/through KIM) Coal mining

PT Karya Cemerlang Persada (KCP) Jakarta Pertambangan batubara/ 2011 66.998 66.998 14,564,093 16,020,134 (melalui/through KIM) Coal mining

PT Citra Alam Indah (CAI) Jakarta Perdagangan besar/ 2011 99.998 99.998 23,379,649 27,406,402 (melalui/through BKES) Trading

PT Trisula Kencana Sakti (TKS) Kalimantan Pertambangan batubara/ 2008 46.899 46.899 14,319,224 13,793,211 (melalui/through GEM) Tengah/ Coal mining

Central Kalimantan

PT Tanjung Belit Bara Utama (TBBU) Jambi Pertambangan batubara/ - 66.998 66.998 22,188,755 9,106,627 (melalui/through KCP) Coal mining

PT Andalan Satria Lestari (ASL) Jakarta Pertambangan batubara/ - 99.997 - 5,457,895 -(melalui/through BKES ) Coal mining

PT Manggala Alam Lestari (MAL) Jakarta Pertambangan batubara/ - 99.361 67.002 3,566,882 3,756,398 (melalui/through BKES ) Coal mining

PT Nusantara Indah Lestari (NIL) Jakarta Pertambangan batubara/ 2005 99.998 99.998 3,082,773 3,274,868 (melalui/through BKES) Coal mining

PT Berkat Nusantara Permai (BNP) Jakarta Pertambangan batubara/ - 66.998 66.998 13,511,808 244,225 (melalui/through KIM) Coal mining

PT Nusa Indah Permai (NIP) Sumatera Pertambangan batubara/ - 99.361 67.005 856,520 895,761 (melalui/through MAL) Selatan/ Coal mining

South Sumatera

PT Wahana Alam Lestari (WAL) Jakarta Pertambangan batubara/ 2007 99.998 99.998 550,916 561,508 (melalui/through BKES) Coal mining

PT Bungo Bara Utama (BBU) Jambi Pertambangan batubara/ - 66.998 66.998 423,254 314,215 (melalui/through KIM) Coal mining

PT Rimba Subur Lestari (RSL) Sumatera Pertambangan batubara/ - 99.998 - 331,154 -(melalui/through ASL ) Selatan/ Coal mining

PT Buana Bara Ekapratama (BBEP) Jakarta Pertambangan batubara/ - 99.998 - 196,197 -(melalui/through ASL ) Coal mining

PT Duta Alam Ekapratama (DAE) Jakarta Pertambangan batubara/ - 99.998 - 185,782 -(melalui/through ASL ) Coal mining

PT Andalan Satria Abadi (ASA) Jakarta Pertambangan batubara/ - 99.998 - 232,148 -(melalui/through ASL ) Coal mining

PT Duta Alam Jaya (DAJ) Jakarta Pertambangan batubara/ - 99.998 - 166,013 -(melalui/through ASL ) Coal mining

PT Buana Inti Citraprima (BIC) Jakarta Pertambangan batubara/ - 99.998 - 182,752 -(melalui/through ASL ) Coal mining

PT Citra Alam Cahaya (CAC) Jakarta Pertambangan batubara/ - 99.998 - 124,729 -(melalui/through ASL ) Coal mining

PT Cahaya Nusa Pratama (CNP) Jakarta Pertambangan batubara/ - 99.998 - 133,687 -(melalui/through ASL ) Coal mining

Kepemilikan Efektif/ Effective Ownership (Sebelum Eliminasi)/ Anak Perusahaan/Subsidiary Jumlah Aset Total Assets

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GEM GEM GEM didirikan berdasarkan Akta No. 81

tanggal 13 Maret 1997 dari Imam Santoso, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik

Indonesia) dalam Surat Keputusan

No. C2-7.922HT.01.01. TH.98 tanggal 30 Juni 1998 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 30 tanggal 12 April 2002, Tambahan No. 3667.

GEM was established based on Deed No. 81 dated March 13, 1997 of Imam Santoso, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C2-7.922HT.01.01. TH.98 dated June 30, 1998 and was published in the State Gazette of the Republic of Indonesia No. 30 dated April 12, 2002, Supplement No. 3667.

Berdasarkan Akta No. 56 tanggal

20 Juli 2010 dan No. 74 tanggal 22 Oktober 2010, keduanya dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham GEM menyetujui untuk meningkatkan modal ditempatkan dan disetor dari

Rp 48.802.000.000 menjadi

Rp 228.802.000.000 dan selanjutnya

menjadi Rp 500.000.000.000 yang diambil

bagian seluruhnya oleh Perusahaan.

Kepemilikan langsung Perusahaan dalam GEM pada tahun 2010 sebesar 99,999%.

Based on Deeds No. 56 dated July 20, 2010 and No. 74 dated October 22, 2010, both of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of GEM agreed to increase its issued and paid-up capital from Rp 48,802,000,000 to Rp 228,802,000,000 and further to Rp 500,000,000,000 which were all acquired by the Company. The Company’s direct ownership interest in GEM in 2010 was 99.999%.

Pada tanggal 9 November 2011, GEM memperoleh pernyataan efektif dari

Ketua Bapepam-LK untuk melakukan

penawaran umum saham perdana sebanyak 882.353.000 saham seharga Rp 2.500 per saham kepada masyarakat.

On November 9, 2011, GEM obtained the Notice of Effectivity from the Chairman of Bapepam-LK for its offering to the public of 882,353,000 shares at Rp 2,500 per share.

9 November 2011 dari Linda Herawati, S.H., notaris di Jakarta, para pemegang saham Perusahaan menyetujui rencana penjualan saham GEM kepada GMR Infrastructure

Investments (Singapore) Pte. Ltd.

(GMR Singapura) sebanyak 1.058.823.500 saham dengan harga sebesar Rp 2.500 per

saham. Perusahaan telah melakukan

penjualan saham tersebut melalui bursa

pada tanggal 17 November 2011.

Kepemilikan Perusahaan atas saham GEM setelah transaksi penjualan saham kepada GMR Singapura dan penawaran umum saham perdana GEM mengalami penurunan dari 99,999% menjadi 66,999%.

Based on Deed No. 31 dated

November 9, 2011 of Linda Herawati, S.H., public notary in Jakarta, the Company’s stockholders have agreed to the plan to sell the Company’s investment in shares of GEM

to GMR Infrastructure Investments

(Singapore) Pte. Ltd. (GMR Singapore) totaling to 1,058,823,500 shares with selling price of Rp 2,500 per share. The Company sold such shares through stock exchange on

November 17, 2011. The Company’s

ownership in shares of GEM after the sale of shares transaction to GMR Singapore and GEM’s initial public offering decreased from 99.999% to 66.999%.

Pada tanggal 4 Februari 2011, berdasarkan Keputusan Menteri Energi dan Sumber Daya

Mineral No. 206.K/30/DJB/2011, GEM

memperoleh Ijin Usaha Pertambangan

Operasi Produksi Khusus untuk

Pengangkutan dan Penjualan Batubara untuk jangka waktu 3 (tiga) tahun dan dapat diperpanjang.

On February 4, 2011, based on the Decision of the Ministry of Energy and Mineral Resource No. 206.K./30/DJB/2011, GEM obtained Particular License of IUP Operation Production for Transportation and Trade of Coal which is valid for three (3) years and can be extended.

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RKN RKN RKN didirikan berdasarkan Akta No. 80

tanggal 14 April 1947 yang dibuat oleh notaris Meester Karel Eduard Krijgsman. Akta pendirian ini telah disahkan oleh Direktur Van Justitie dalam Surat Keputusan No. J.A./5/8/25 tanggal 15 Juli 1947 dan telah diumumkan dalam Javasche Courant tanggal 15 Juli 1947, Tambahan No. 55.

RKN was established based on Deed No. 80 dated April 14, 1947 of Meester Karel

Eduard Krijgsman. The Deed of

Establishment was approved by the Director of Van Justitie in its Decision Letter No. J.A./5/8/25 dated July 15, 1947 and was published in the Javasche Courant dated July 15, 1947, Supplement No. 55.

23 Desember 2010 dari Linda Herawati, S.H., notaris di Jakarta, Perusahaan mengakuisisi 77.314.710 saham RKN atau

sebesar 99,504% kepemilikan dari

PT Menara Madju, entitas sepengendali.

December 23, 2010 of Linda Herawati, S.H., public notary in Jakarta, the Company acquired from PT Menara Madju, an entity under common control, 77,314,710 shares of RKN or equivalent to 99.504% ownership interest.

BKES BKES

BKES didirikan berdasarkan Akta No. 1 tanggal 8 November 2010 dengan nama PT Bangun Prakarsa Terus Jaya dari Herlianti, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Hukum

dan Hak Asasi Manusia Republik

Indonesia dalam Surat Keputusan

No. AHU-55936.AH.01.01 Th 2010 tanggal 29 November 2010 .

BKES was established based on Deed No. 1 dated November 8, 2010 under the name PT Bangun Prakarsa Terus Jaya of Herlianti, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-55936.AH.01.01 Th 2010 dated November 29, 2010.

Berdasarkan Akta No. 81 dan 82 tanggal

20 Desember 2010 dari Hannywaty

Gunawan, S.H., notaris di Jakarta, Perusahaan mengakuisisi 50 saham dan

49 saham BKES masing-masing dari

Nurlaela dan Wahyuningsih, pihak ketiga, yang merupakan 99,000% kepemilikan.

Based on Deeds No. 81 and 82 dated December 20, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the Company acquired 50 shares and 49 shares in BKES from Nurlaela and Wahyuningsih, third parties, respectively, representing a total of 99.000% ownership interest.

20 Desember 2010 dari notaris yang sama, para pemegang saham BKES menyetujui peningkatan modal ditempatkan dan disetor

dari Rp 100.000.000 menjadi

Rp 47.340.000.000 yang diambil bagian seluruhnya oleh Perusahaan, sehingga meningkatkan kepemilikan Perusahaan pada BKES dari 99,000% menjadi 99,998%.

December 20, 2010 from the same public notary, the shareholders of BKES agreed to increase its issued and paid up capital from Rp 100,000,000 to Rp 47,340,000,000 which were all acquired by the Company, thus, increasing the Company’s ownership in BKES from 99.000% to 99.998%.

31 Juli 2012 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham BKES menyetujui peningkatan modal dasar dari Rp 180.000.000.000 menjadi

Rp 750.000.000.000 serta modal

ditempatkan dan disetor dari

Rp 47.340.000.000 menjadi

Rp 189.540.000.000 yang diambil bagian seluruhnya oleh Perusahaan sebanyak

142.200 saham atau sebesar

July 31, 2012 from Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of BKES agreed to increase its authorized capital from Rp 180,000,000,000 to Rp 750,000,000,000 and its issued and paid up capital from Rp 47,340,000,000 to Rp 189,540,000,000 which were all acquired

by the Company totaling to

Rp 142,200,000,000 consisting of 142,200 shares, thus, increasing the Company’s

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Rp 142.200.000.000, sehingga meningkatkan kepemilikan Perusahaan pada BKES dari 99,998% menjadi 99,999%.

ownership in BKES from 99.998% to 99.999%.

DSSE DSSE

DSSE didirikan berdasarkan Akta No. 73 tanggal 19 Maret 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta. Perusahaan dan SMT mendirikan DSSE, yang akan bergerak di bidang perdagangan, pembangunan, industri, dan jasa, dengan

modal dasar sebesar

Rp 1.000.000.000.000 yang terdiri dari 1.000.000 saham dengan nilai nominal sebesar Rp 1.000.000 per saham. Modal yang telah ditempatkan pada DSSE sebesar Rp 361.000.000.000 yang terdiri dari

361.000 saham. Adapun kepemilikan

Perusahaan dan SMT atas saham DSSE

masing-masing sebesar 99,900% dan

0,100%.

DSSE was established based on Deed No. 73 dated March 19, 2012 of Desman, S.H., M. Hum., M.M., public notary in Jakarta. The Company and SMT established DSSE, which will engange in trading, development, industry and services, with authorized capital

amounting to Rp 1,000,000,000,000

consisting of 1,000,000 shares with nominal value of Rp 1,000,000 per share. Total

paid-up capital of DSSE amounting to

Rp 361,000,000,000 consisting of 361,000 shares. The Company and SMT’s ownership in shares of DSSE amounting to 99.900% and 0.100%, respectively.

DSSM DSSM

DSSM didirikan berdasarkan Akta No. 105 tanggal 26 Maret 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta. DSSM didirikan oleh Perusahaan dan SMT, dengan modal dasar sebesar Rp 2.100.000.000 yang terdiri dari 2.100.000 saham dengan nilai nominal sebesar Rp 1.000 per saham serta modal ditempatkan dan disetor sebesar Rp 525.000.000. Perusahaan dan SMT memiliki kepemilikan dalam DSSM masing-masing sebesar 99,900% dan 0,100%.

DSSM was established based on Deed No. 105 on March 26, 2012 of Desman, S.H., M. Hum., M.M., public notary in Jakarta. DSSM was established by the Company and SMT, with authorized capital amounting to Rp 2,100,000,000 consisting of 2,100,000 shares with nominal value of Rp 1,000 per share, and issued and paid up capital

amounting to Rp 525,000,000. The

Company and SMT have ownership interest

in DSSM of 99.900% and 0.100%,

respectively.

18 April 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta, para pemegang saham DSSM menyetujui peningkatan modal dasar dan perubahan nilai nominal saham dari Rp 2.100.000.000 yang terdiri dari 2.100.000 saham dengan nilai nominal sebesar Rp 1.000 per saham menjadi Rp 200.000.000.000 yang terdiri dari 200.000 saham dengan nilai nominal sebesar Rp 1.000.000 serta peningkatan modal ditempatkan dan disetor dari Rp 525.000.000 menjadi Rp 52.000.000.000 yang diambil bagian oleh Perusahaan dan SMT sehingga kepemilikan Perusahaan dan SMT dalam DSSM berubah menjadi masing-masing 99,981% dan 0,019%.

April 18, 2012 from Desman, S.H., M. Hum., M.M., public notary in Jakarta, the shareholders of DSSM agreed to increase its authorized capital and nominal value of share from Rp 2,100,000,000 consisting of 2,100,000 shares with nominal value of Rp 1,000 per share to Rp 200,000,000,000 consisting of 200,000 shares with nominal value of Rp 1,000,000 per share and to increase its issued and paid up capital from Rp 525,000,000 to Rp 52,000,000,000 which were acquired by the Company and SMT, thus, the ownership of the Company and SMT in DSSM become 99.981% and 0.019%, respectively.

RCI RCI

RCI didirikan berdasarkan Akta No. 65 tanggal 31 Januari 2003 dari Saal Bumela,

RCI was established based on Deed No. 65

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S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan

Hak Asasi Manusia Republik

Indonesia) dalam Surat Keputusan

No. C-27211.HT.01.01.TH.2004 tanggal 1 November 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 3 tanggal 11 Januari 2005, Tambahan No. 295.

Bumela, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and

Human Rights of the Republic of

Indonesia) in its Decision Letter

No. C-27211.HT.01.01.TH.2004 dated

November 1, 2004 and was published in the State Gazette of the Republic of Indonesia No. 3 dated January 11, 2005, Supplement No. 295.

20 Juli 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham RCI menyetujui peningkatan modal dasar

dari Rp 100.000.000.000 menjadi

Rp 700.000.000.000 serta modal

Rp 85.064.000.000 menjadi

Rp 185.064.000.000 yang diambil bagian seluruhnya oleh GEM, sehingga kepemilikan GEM pada RCI meningkat dari 57,365% menjadi 80,403% sedangkan kepemilikan langsung Perusahaan pada RCI menurun dari 42,635% menjadi 19,597%.

Based on Deed No. 58 dated July 20, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of RCI agreed to increase its authorized capital from Rp 100,000,000,000 to Rp 700,000,000,000 and its issued and paid up capital from Rp 85,064,000,000 to Rp 185,064,000,000 which were all acquired by GEM, thus GEM’s ownership interest increased from 57.365% to 80.403%, while the Company’s direct ownership in RCI decreased from 42.635% to 19.597%.

15 April 2011 dari Deni Thanur, S.E., S.H., M.Kn, notaris di Jakarta, para pemegang

saham RCI menyetujui antara lain

perubahan klasifikasi saham RCI menjadi saham Seri A bernilai nominal Rp 1.000.000 dan saham Seri B bernilai nominal Rp 1.000 dan perubahan seluruh saham yang telah dikeluarkan menjadi saham Seri A serta peningkatan modal ditempatkan dan disetor dari Rp 185.064.000.000 terbagi atas 185.064 saham menjadi Rp 188.564.000.000 terbagi atas 185.064 saham Seri A dan 3.500.000 saham Seri B yang diambil bagian

seluruhnya oleh GEM sebanyak

Rp 3.500.000.000 terbagi atas 3.500.000 saham Seri B. Dengan peningkatan modal tersebut, kepemilikan GEM pada RCI meningkat dari 80,403% menjadi 99,016%,

sedangkan kepemilikan langsung

Perusahaan pada RCI menurun dari

19,597% menjadi 0,984%.

Based on Deed No. 59 dated April 15, 2011 of Deni Thanur, S.E., S.H. M.Kn, public notary in Jakarta, the shareholders of RCI agreed, among others, to change the classification of RCI’s share into Series A share with nominal value per share of Rp 1,000,000 and Series B shares with nominal value per share of Rp 1,000 and to change all of the issued shares to Series A shares and increase the issued and paid up capital from Rp 185,064,000,000 consisting of 185,064 shares to Rp 188,564,000,000 consisting of 185,064 Series A shares and 3,500,000 Series B shares which were all

acquired by GEM amounting to

Rp 3,500,000,000 consisting of 3,500,000 Series B shares. Accordingly, with such an increase in the capital, GEM’s ownership interest in RCI increased from 80.403% to 99.016%, while the Company’s direct ownership in RCI decreased from 19.597% to 0.984%.

BORNEO BORNEO

BORNEO didirikan berdasarkan Akta

No. 79 tanggal 21 Desember 1990 dari Bertha Suriati Ihalauw Halim, S.H., notaris di Banjarmasin, dan perubahannya dengan Akta No. 222 tanggal 26 Juni 1991 dari Mohamad Said Tadjoedin, S.H., notaris di Jakarta. Akta pendirian dan perubahannya telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri

BORNEO was established based on Deed No. 79 dated December 21, 1990 of Bertha Suriati Ihalauw Halim, S.H., public notary in Banjarmasin, and its amendment based on

Notarial Deed No. 222 dated

June 26, 1991 of Mohamad Said Tadjoedin, S.H., public notary in Jakarta. The Deed of Establisment and its Amendment were approved by the Ministry of Justice of the

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Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C2-12.173.HT.01.01.TH.94 tanggal 12 Agustus 1994 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 100 tanggal 16 Desember 1994, Tambahan No. 10406.

Republic of Indonesia (currently the Minister Law and Human Rights of the Republic of Indonesia) in its Decision Letter

No. C2-12.173.HT.01.01.TH.94 dated

August 12, 1994 and was published in the State Gazette of the Republic of Indonesia No. 100 dated December 16, 1994, Supplement No. 10406.

Berdasarkan Akta No. 24 tanggal 6 Agustus 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham BORNEO menyetujui peningkatan modal dasar dari Rp 110.000.000.000

menjadi Rp 700.000.000.000 serta

modal ditempatkan dan disetor

Rp 185.613.000.000 atau meningkat sebesar Rp 100.000.000.000 yang diambil bagian seluruhnya oleh RCI, sehingga kepemilikan RCI pada BORNEO meningkat dari 97,982% to 99,070%.

Based on Deed No. 24 dated August 6, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, shareholders of BORNEO agreed to increase its authorized capital from Rp 110,000,000,000 to Rp 700,000,000,000 and its issued and paid up capital from Rp 85,613,000,000 to Rp 185,613,000,000 or an increase of Rp 100,000,000,000 which were all acquired by RCI accordingly, RCI ownership interest in BORNEO increased from 97.982% to 99.070%.

BORNEO memperoleh ijin Pengusahaan Pertambangan Batubara dari instansi-instansi berikut:

BORNEO obtained from the following its license to conduct coal mining activities:

1. Pemerintah Republik Indonesia diwakili oleh PT Tambang Batubara Bukit Asam

(Persero) (PTBA) dalam

Perjanjian Kerjasama Pengusahaan

Pertambangan Batubara (PKP2B)

No. 007/PK/PTBA-BI/1994 tanggal

15 Agustus 1994. Berdasarkan

perubahan PKP2B antara PTBA dan BORNEO tanggal 27 Juni 1997, efektif sejak tanggal 1 Juli 1997 semua hak dan kewajiban PTBA dalam PKP2B beralih kepada Pemerintah Republik Indonesia yang diwakili oleh Menteri Energi dan Sumber Daya Mineral.

1. The Government of the Republic of

Indonesia as represented by

PT Tambang Batubara Bukit Asam (PTBA) (Persero) in Coal Contract of

Work (CCoW) No.

007/PK/PTBA-BI/1994 dated August 15, 1994. Based on the changes in CCoW between

PTBA and BORNEO dated

June 27, 1997, effective July 1, 1997, all of the PTBA rights and obligations in CCoW have been transferred back to the Government of the Republic of Indonesia which was represented by the Ministry of Energy and Mineral Resources.

2. Keputusan Menteri Energi dan Sumber Daya Mineral No. 10.K/40.00/DJB/2006 tanggal 17 Februari 2006 tentang Permulaan Tahap Kegiatan Produksi Perjanjian Kerjasama Pengusahaan Pertambangan Batubara seluas 24.100

hektar untuk jangka waktu

30 (tiga puluh) tahun.

2. Ministry of Energy and Mineral Resources in its Decision Letter

No. 10.K/40.00/DJB/2006 dated

February 17, 2006 which permits BORNEO to conduct its mining activities in accordance with CCoW within a parameter of 24,100 hectares of land for a period of thirty (30) years.

KIM KIM

KIM didirikan berdasarkan Akta No. 20

tanggal 20 Januari 2004 dari

Dra. Butet, S.H., notaris di Padang. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C-03598.HT.01.01.Th.2004 tanggal

KIM was established based on Deed No. 20 dated January 20, 2004 of Dra. Butet, S.H., public notary in Padang.

The Deed of Establishment was

approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter

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13 Februari 2004, dan diumumkan dalam Berita Negara Republik Indonesia No. 22 tanggal 17 Maret 2009, Tambahan No. 7762.

No. C-03598.HT.01.01.Th.2004 dated

February 13, 2004, and was published in the State Gazette of the Republic of Indonesia No. 22 dated March 17, 2009, Supplement No. 7762.

Berdasarkan Akta No. 14 tanggal 12 Oktober 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham KIM menyetujui peningkatan modal dasar

Rp 200.000.000.000 dan modal ditempatkan dan disetor dari Rp 5.000.000.000 menjadi Rp 50.000.000.000 yang diambil bagian seluruhnya oleh GEM, sehingga kepemilikan GEM pada KIM meningkat dari 99,980% menjadi 99,998%.

October 12, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of KIM agreed to increase its

authorized capital stock from

Rp 20,000,000,000 to Rp 200,000,000,000 and its issued and paid up capital from Rp 5,000,000,000 to Rp 50,000,000,000 which were all acquired by GEM, thus, increasing ownership interest GEM’s in KIM from 99.980% into 99.998%.

Dalam melaksanakan kegiatan

pertambangannya, KIM telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, KIM has obtained the following licenses:

Luas Area/ No. Surat Keputusan/ Masa Berlaku/

No. Ijin KP/Licenses Daerah/Location Area Decision Letter No. Validity

Hektar/Hectare

1. IUP Operasi Produksi/ Kecamatan Jujuhan, 199 Keputusan Bupati Bungo/ 23 April 2010 s.d./up to

Production Operations Kabupaten Bungo, Decision of Bupati Bungo 22 April 2020

Provinsi/Province Jambi No. 251/DESDM Tahun 2010

2. IUP Operasi Produksi/ Kecamatan Jujuhan, Keputusan Bupati Bungo/ 23 April 2010 s.d./up to

Production Operations Kabupaten Bungo, Decision of Bupati Bungo 22 April 2018

Provinsi/Province Jambi No. 252/DESDM Tahun 2010

199

DSSP DSSP

DSSP didirikan berdasarkan Akta No. 45 tanggal 23 Agustus 2011 dari Linda Herawati, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik

No. AHU-44363.AH.01.01.Tahun 2011

tanggal 9 September 2011. DSSP didirikan oleh Perusahaan dan GEM dengan modal dasar sebesar Rp 10.000.000.000 yang terdiri dari 10.000 saham dengan nilai nominal sebesar Rp 1.000.000 per saham serta modal ditempatkan dan disetor sebesar Rp 2.500.000.000. Perusahaan dan GEM memiliki kepemilikan dalam DSSP masing-masing sebesar 95,000% dan 5,000%.

DSSP was established based on Deed No. 45 on August 23, 2011 of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendment thereto was approved by the Ministry of Law and Human Rights of the Republic of

Indonesia in its Decision Letter

No. AHU-44363.AH.01.01.Tahun 2011 dated September 9, 2011. DSSP was established by the Company and GEM with authorized capital amounting to Rp 10,000,000,000 consisting of 10,000 shares with nominal value of Rp 1,000,000 per share, and issued and paid up capital amounting to Rp 2,500,000,000. The Company and GEM have ownership interest in DSSP of 95.000% and 5.000%, respectively.

29 Maret 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta, para pemegang saham DSSP menyetujui penjualan seluruh saham yang dimiliki Perusahaan kepada DSSE serta menyetujui peningkatan modal

Rp 2.500.000.000 menjadi

Rp 360.000.000.000 yang diambil bagian

March 29, 2012 from Desman, S.H., M. Hum., public notary in Jakarta, the shareholders of DSSP agreed to sell all of the Company’s shares to DSSE and to increase its issued and paid up capital from Rp 2,500,000,000 to Rp 360,000,000,000 which were all acquired by DSSE, thus, the ownership of DSSE and GEM in DSSP are

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seluruhnya oleh DSSE, sehingga kepemilikan DSSE dan GEM dalam DSSP

masing-masing sebesar 99,965% dan

0,035%.

99.965% to 0.035%, respectively.

BBE BBE

BBE didirikan berdasarkan Akta No. 1 tanggal 1 Desember 2011 dari Linda Herawati, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik

No. AHU-61235.AH.01.01. Tahun 2011 tanggal 13 Desember 2011. BBE didirikan oleh Perusahaan dan PT Sinar Mas Tunggal (SMT), pihak berelasi, dengan modal dasar sebesar Rp 1.000.000.000 yang terdiri dari 4.000 saham dengan nilai nominal sebesar Rp 250.000 per saham serta modal

ditempatkan dan disetor sebesar

Rp 250.000.000. Perusahaan dan SMT memiliki kepemilikan dalam BBE masing-masing sebesar 99,900% dan 0,100%.

BBE was established based on Deed No. 1 on December 1, 2011 of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendmentthereto was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its

Decision Letter

No. AHU-61235.AH.01.01.Tahun 2011 dated

December 13, 2011 and BBE was

established by the Company and PT Sinar Mas Tunggal (SMT), a related party, with

authorized capital amounting to

Rp 1,000,000,000 consisting of 4,000 shares with nominal value of Rp 250,000 per share, and issued and paid up capital amounting to Rp 250,000,000. The Company and SMT have ownership interest in BBE of 99.900% and 0.100%, respectively.

29 Maret 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta, para pemegang saham BBE menyetujui peningkatan modal ditempatkan dan disetor dari Rp 250.000.000 menjadi Rp 2.000.000.000 yang diambil bagian oleh Perusahaan dan SMT secara

berimbang, sehingga kepemilikan

Perusahaan dan SMT dalam BBE tidak berubah.

March 29, 2012 from Desman, S.H., M. Hum., M.M., public notary in Jakarta, the shareholders of BBE agreed to increase its

issued and paid up capital from

Rp 250,000,000 to Rp 2,000,000,000 which were proportionally acquired by the Company and SMT, thus, the ownership of the Company and SMT in BBE remain the same.

3 Mei 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta, para pemegang saham BBE menyetujui penjualan seluruh saham yang dimiliki Perusahaan kepada DSSM sebanyak 7.992 lembar saham atau senilai Rp 1.998.000.000.

May 3, 2012 from Desman, S.H., M. Hum., M.M., public notary in Jakarta, the shareholders of BBE agreed to sell all of the BBE’s shares owned by the Company to

DSSM which is 7,992 shares or

Rp 1,998,000,000.

SSS SSS

SSS didirikan berdasarkan Akta No. 9 tanggal 2 May 2012 dari Desman, S.H., M. Hum., M.M., notaris di Jakarta. Perusahaan dan DSSM mendirikan SSS, yang akan bergerak di bidang perdagangan, industri dan jasa, dengan modal dasar sebesar Rp 400.000.000 yang terdiri dari 400 saham

dengan nilai nominal sebesar Rp 1.000.000 per saham. Modal yang telah

ditempatkan pada SSS sebesar Rp 100.000.000 yang terdiri dari 100 saham.

Adapun kepemilikan Perusahaan dan DSSM atas saham SSS masing-masing sebesar

SSS was established based on Deed No. 9 dated May 2, 2012 of Desman, S.H., M. Hum., M.M., public notary in Jakarta. The Company and DSSM established SSS, which will engange in trading, industry, and services, with authorized capital amounting to Rp 400,000,000 consisting of 400 shares with nominal value of Rp 1,000,000 per share. Total paid-up capital of SSS amounting to Rp 100,000,000 consisting of 100 shares. The Company and DSSM’s ownership in SSS is 1.000% and 99.000%, respectively.

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1,000% dan 99,000%.

BHBA BHBA

BHBA didirikan berdasarkan Akta No. 30 tanggal 27 Mei 2008 dari Ahmad Yani, S.H., notaris di Muara Bungo. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-35632.AH.01.01.Tahun 2008 tanggal 25 Juni 2008 dan telah

diumumkan dalam Berita Negara

Republik Indonesia No. 105 tanggal 31 Desember 2010, Tambahan No. 42904.

BHBA was established based on Deed No. 30 dated May 27, 2008 of Ahmad Yani, S.H., public notary in Muara Bungo. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-35632.AH.01.01.Tahun 2008 dated June 25, 2008 and was published in the State Gazette of the Republic of Indonesia No. 105 dated December, 31 2010, Supplement No. 42904.

25 November 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para

pemegang saham BHBA menyetujui

penjualan 249 saham BHBA milik

PT Andalan Satria Cemerlang, pihak ketiga, kepada KIM, dan 1 saham BHBA milik PT Persada Bangun Lestari, pihak ketiga, kepada GEM. Dengan pembelian saham tersebut, maka kepemilikan KIM pada BHBA menjadi 99,600%.

Based on Deed No. 30 dated November 25, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of BHBA agreed to sell 249 shares of BHBA owned by PT Andalan Satria Cemerlang, a third party, to KIM and 1 share of BHBA owned by PT Persada Bangun Lestari, a third party, to GEM. Accordingly, KIM’s

ownership interest in BHBA became

99.600%.

Dalam melaksanakan kegiatan

pertambangannya, BHBA telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, BHBA has obtained a license with details as follows:

Hektar/Hectare

1. IUP Operasi Produksi/ Dusun Tanjung Belit, 172 Keputusan Bupati Bungo/ 23 April 2010 s.d./up to

Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 22 April 2016

Kabupaten Bungo, No. 247/DESDM/Tahun 2010 Provinsi/Province Jambi

KCP KCP

KCP didirikan berdasarkan Akta No. 10 tanggal 11 September 2007 dari Hanita Sentono, S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia

dalam Surat Keputusan

No. C-07481 HT.01.01 TH.2007 tanggal 27 Desember 2007 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 58 tanggal 18 Juli 2008, Tambahan No. 12392.

KCP was established based on Deed No. 10 dated September 11, 2007 of Hanita Sentono, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. C-07481 HT.01.01 TH.2007 dated December 27, 2007 and was published in the State Gazette of the Republic of Indonesia No. 58 dated July 18, 2008, Supplement No. 12392.

11 Mei 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, KCP meningkatkan modal dasar dari Rp 50.000.000 menjadi Rp 20.000.000.000 dan modal ditempatkan dan disetor dari Rp 15.000.000 menjadi

Based on Deed No. 26 dated May 11, 2010 of Deni Thanur, S.E, S.H., M.Kn., public notary in Jakarta, the shareholders of KCP agreed to increase its authorized capital from Rp 50,000,000 to Rp 20,000,000,000 and issued and paid up capital from

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Rp 12.015.000.000 yang diambil bagian

seluruhnya oleh KIM sebanyak

12.000 saham dengan nilai nominal sebesar Rp 1.000.000 per saham. Sehingga, KIM memiliki kepemilikan pada KCP sebesar 99,875%.

Rp 15,000,000 to Rp 12,015,000,000 wherein 12,000 shares with nominal value per share of Rp 1,000,000 were all acquired by KIM, resulting to an ownership interest of KIM in KCP of 99.875%.

28 Juni 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham KCP menyetujui penjualan 14 saham dalam KCP yang dimiliki oleh PT Cakrawala Dinamika Permai, pihak ketiga, kepada KIM dan 1 saham dalam KCP yang dimiliki PT Persada Bangun Cemerlang Abadi, pihak ketiga, kepada GEM, sehingga kepemilikan KIM pada KCP meningkat dari 99,875% menjadi 99,992%.

Based on Deed No. 28 dated June 28, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of KCP agreed to sell 14 shares in KCP owned by PT Cakrawala Dinamika Permai, a third party, to KIM and 1 share in KCP owned by PT Persada Bangun Cemerlang Abadi, a third party, to GEM, thus, increasing KIM’s ownership interest in KCP from 99.875% to 99.992%.

KCP telah memperoleh ijin pengusahaan pertambangan batubara sebagai berikut:

KCP has obtained a coal mining license with details as follows:

Hektar/Hectare

1. IUP Operasi Produksi/ Dusun Tanjung Belit, 143 Keputusan Bupati Bungo/ 22 Juli/July 2009 s.d/up

to Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 21 Juli/July 2019

Kabupaten Bungo, No. 350/DESDM/Tahun 2009

Provinsi/Province Jambi

CAI CAI

CAI didirikan berdasarkan Akta No. 16 tanggal 8 September 2008 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik

No. AHU-82240.AH.01.01.Tahun. 2008

tanggal 5 November 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 18 tanggal 3 Maret 2009, Tambahan No. 6128.

CAI was established based on Deed No. 16 dated September 8, 2008 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-82240.AH.01.01.Tahun.2008 dated November 5, 2008 and was published in the State Gazette of the Republic of Indonesia No. 18 dated March 3, 2009, Supplement No. 6128.

30 Desember 2010 dari Hannywati

Gunawan, S.H., notaris di Jakarta, para pemegang saham CAI menyetujui penjualan

14 saham CAI yang dimiliki oleh

PT Cakrawala Dinamika Permai, pihak ketiga, kepada GEM dan 1 saham CAI yang dimiliki PT Persada Bangun Cemerlang Abadi, pihak ketiga, kepada SMC, pihak berelasi, serta peningkatan modal dasar dari Rp 50.000.000 menjadi Rp 2.000.000.000 dan modal ditempatkan dan disetor dari Rp 15.000.000 menjadi Rp 515.000.000, yang diambil bagian seluruhnya oleh GEM.

Kepemilikan GEM dalam CAI adalah

December 30, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of CAI agreed to sell 14 shares in CAI owned by PT Cakrawala Dinamika Permai, a third party, to GEM and 1 share in CAI owned by PT Persada Bangun Cemerlang Abadi, third party, to SMC, a related party, and to increase its authorized capital from Rp 50,000,000 to Rp 2,000,000,000 and its issued and paid up

capital from Rp 15,000,000 to

Rp 515,000,000 which were all acquired by

GEM. Accordingly, GEM’s effective