INVESTOR & ANALYST UPDATE 3rd March 2011

FY 2010 results and comments

1

Disclaimer
The views expressed here contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by Banpu plc. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

2

1.
2. 3.

Introduction
Financial summary Focus: reserves update

4.
5. 6.

Coal market
Coal divisions Power division

Appendices

3

1.

Introduction

4

Key events
EXTERNAL EVENTS

Indonesia Capital China flooding inflow to coal cap Asia

Queensland flooding

Capital flow back to US

Instability in the Middle East

October

November

December

January

February

CORPORATE

EVENTS

12 Oct Closed Offer of CEY

10 Nov 3Q10 Results

18 Nov Divestment 14.9% stake in Ratch

22 Dec Announcement of Special Dividend Bt. 5

4 Jan Announcement of license expiry at Daning

23 Feb Banpu FY10 results, dividend and Reserves & Resources update

11 Nov 3Q10 Analyst Meeting: CEY focus

5

figures for Centennial are equity basis 6 .7 Mtpa THAILAND BLCP (50%) 1.Map of Banpu operations and projects Luannan (100%) CHINA Gaohe (45%) (COD2013) 100 MW.3 Mtpa Clarence* (85%) *Charbon and Clarence 2.3 Mtpa Mannering (100%) Springvale (100%) 1.4Mtpa Kitadin-Embalut (65%) 1. 180 tph Zouping (70%) 100 MW. 128 tph WESTERN OPERATIONS NORTHERN OPERATIONS Newstan Lochiel (100%) Zhengding (100%) 48 MW.1 Mtpa Myuna (100%) 2.9 Mtpa Airly (100%) Hong Sa (40%) (COD 2015) 0.9 Mtpa Jorong (65%) INDONESIA AUSTRALIA Coal mine Coal mine project Coal-fired power Coal-fired power project Centennial (100%) 14.2 Mtpa 0.5 Mtpa Bharinto (64%) (COD 2H11) Indominco (65%) 14. 430 tph Hebi (40%) 1.1Mtpa Neubecks (50%) Ivanhoe (100%) (mine under rehabilitation) Angus Place (50%) 1.3 Mtpa Note: All figures are for 2010 output or capacity.434MW Kitadin–Tandung Mayang (65%) (COD 2H11) Mandalong (100%) 5.6 Mtpa Truebaindo (65%) 5.5 Mtpa Daning (56%) 4 Mtpa Inglenook (95%) Charbon* (95%) Awaba (100%) 0.

285 4. million FY 2010 COAL SALES COAL SALES 21.3 ITM Coal 20.9 Mt CEY 1.818 15.561 Power 4.923* 3.794 Coal Revenue EBIT Net income Y-Y 23% Y-Y -1% Q-Q 57% Q-Q -35% Q-Q -63% Y-Y 13% Y-Y -14% Y-Y 74% * Includes gains from divestment of Ratch • Includes gains from divestment of 8.014 1.8 Mt 23% Y-Y ITM 22.392 3.34 Mt CEY 65.194 3.575 6.72% shares in ITM and Ratch Note: Revenue from others is included in coal Only Q4 figures for Centennial are consolidated in the 2010 revenues figures for coal Coal Power 7 .728* 18.101 -93 3.77 Up 4.934 3.115 60.420 24.865 25.57 5.507 Power 9. million Bt.106 Net income Y-Y 200% Revenue EBIT 17.3 Mt 85% Q-Q 3.Banpu in 2010 4Q10 Bt.57 Up 4.

Financial summary 8 .2.

USD exchange rate is the average exchange rate of the corresponding period. million USD 1.Y 50.530 Power 4.285 4.788 +13% Y-Y 65.077 46.460 23% increase in sales volume 60.Y 53. Revenue from other is included in Coal.Sales revenues Bt.685 m USD 1.865 Power +2% Y .515 m USD 2.420 Coal +14% Y .058 m 57. 9 .070 Coal 8% appreciation of Thai Baht 2008 Coal Power 2009 2010 Note: Only Q4 figures for Centennial are consolidated in the 2010 revenues figures for coal.865 +15% Y-Y 4.

million 34.982 1.817 Coal sales Average Indonesia coal business gross margin: 44% (2009: 51%) 16.Coal gross margin 43% (2009 : 51%) Bt.838 6.361 15.978 25.268 31.498 Gross Margin (%) 49% 40% 63% 57% 51% 3.488 1.095 42% 3.735 32% 45% 37% 2009 2010 4Q2010 2008 2009 2010 2008 2009 2010 2008 2009 2010 Indominco Trubaindo Jorong Kitadin Centennial 10 .150 41% 41% 33% 2. million Bt.489 14.

228 18.444 6.785 -8% +27% Y on Y 21.962 Power -18% Y-Y +74% Y on Y Power 4.966 Y on Y 2. million Bt.848 Power -23% Y-Y 18.830 3.720 3.229 9.410 2008 2009 2010 2008 2009 2010 Coal Power 11 .817 10.955 Coal 14.EBITDA and NPAT EBITDA Bt.052 +54% Y on Y 14.785 21. million Net Profit after Tax 24.004 Coal -5% Y-Y 2.728 23.879 Coal +108% Y-Y 18.772 4.

34 0.14 0.16 26% 14% THB Fixed 9% 2010 2005 2006 2007 2008 2009 * Net gearing = ND / (ND+E) As at end of December 2010 12 .66 0.06 Debt structure AUD Float 12% USD Float 59% 0.Balance sheet Net D/E (X) Net gearing (%) 1.36 40% 25% 12% 51% Fixed 11% THB Float 20% 0.

Dividend payments Dividend per share (Bt) 5 (Special) 5 (Special) 16 12 16 5.5 2004 2005 2006 2007 2008 2009 2010 13 .5 7.5 8.5 7.

Focus: reserves update 14 .3.

study and LT price2 : Indominco (+49) Trubaindo (+20) Study2 : Trubaindo (+3) Daning (+17) Exploration. study and LT price2 : Indominco (+30) Trubaindo (+26) Termination UG project : Indominco UG (-9) +11 Mt +34 Mt +69 Mt +20 Mt +47 Mt 2006 2007 2008 2009 2010 -61 Mt** +97 Mt Daning (+29) Gaohe (+68) +308 Mt -30 Mt ITM IPO (Dec 07) Centennial ITM 9% sell down Acquisition increase (and decrease) in reserves *This does not include the effect of sales depletion **Excludes divestment of Barasentosa Note1: ITM 100% Note2: ITM 74% 15 .Growth in Banpu’s coal reserves (equity basis) Organic increase in reserves* Study and LT price1 : Indominco (+24) Geotech impact : Jorong (-11) Kintadin (-1) Lampang (-1) Indominco(+14) Kitadin (+7) Bharinto (+13) Exploration. study and LT price 2 : Exploration.

2009 (equity basis) Mt 672 +308 308 Australia Coal 366 -19 -9 China Coal 394 +56 146 146 China Coal -30 149 Indonesia Coal (ITM) 217 248 218 Indonesia Coal End 2009 Sales depletion Termination of underground project Exploration & coal price Pre-transaction basis ITM 9% sell down Acquisition of CEY End 2010 16 .Banpu changes in reserves 2010 vs.

2010 17 .813 Total reserves: 672 Mt Total resources: 3.175 Mt Note: All figures are as at December 31st.064 Resources Resources 1.Banpu coal resources and reserves by country (equity basis) Mt AUSTRALIA INDONESIA CHINA Reserves Reserves 308 Reserves 218 146 298 Resources 1.

Reserves are Proved & Probable *This excludes the termination of Indominco underground project 18 . Resources are Measured & Indicated. 2010. 2009 (100% basis) Indominco* West Block +20 Mt 25 Mt 35Mt +36 Mt -10 Mt 78 Mt End 2009 Coal sales Exploration & coal price End 2010 Trubaindo Kitadin 109Mt Embalut TDMY 26 Mt .ITM focus: changes in reserves 2010 vs.1 Mt 10 25 Mt 10 -5 Mt End 2009 Coal sales End 2010 East Block 98 Mt -4 Mt +20 Mt 114Mt Bharinto (project) End 2009 Coal sales Exploration &…End 2010 46 Mt 46 Mt Jorong 8 Mt -1 Mt Coal sales 7 Mt End 2010 End 2009 Coal sales Exploration & End 2010 coal price End 2009 End 2009 End 2010 Note: All figures are as at December 31st.

4. Coal market 19 .

Russia or Colombian exports • Coal demand up to 10-12% and on coast c. domestic demand determine volume? • If unemployment concern defers interest rate rises. 4x Colombia and 2x Australia • Will international price vs. 4x Russia.1% • Indonesia export expected to be over 4x S.Main 2011 coal market driver Weather Chinese Demand World Growth • Impact on Indonesia is most significant: • GDP growth forecast 8. Africa. Africa. there is potential for demand lift in 2H 2011 • China hot summer? Early 2011/12 winter? • Exchange rates may swing to support higher imports • But oil.5% but on coast 10%? • Latest world growth forecast 3. food and raw material cost will have a gradual impact • Good weather estimates? Sources: Country Forecast February and March 2011 from The Economist Intelligence Unit Limited 2011 20 .1% • Indonesia domestic demand will be more than S. 12-14% • Asian growth forecast 5.

Australia and particularly Indonesia – Northern seasonal winter demand in 150 140 130 120 US$ / Ton 110 100 90 80 70 60 Sep-10 Oct-10 Nov-10 Dec-10 Newcastle. GAR FOB Kalimantan 5000 kcal/kg. NAR FOB Newcastle 6300 kcal/kg. GAR Upswing due largely to : – Supply shortfall due rain in Colombia. GAR FOB Kalimantan 5900 kcal/kg. African due to: – Being forward estimates without recourse rather than actual deals – and they include traders – Less tight supply/demand balance (usually) Forecasts: depend on weather and China Jan-11 Feb-11 Mar-11 21 . Indonesian Coal prices flatten Europe but not in Asia – Some improved general sentiment Indonesian indices drag behind Australian and S. RB.Banpu average selling Thermal coal benchmark prices prices in 3Q10 Coal price benchmarks FOB Richards Bay 6000 kcal/kg.

Thermal coal market analysis 2011 update Thermal coal market analysis – 1Q – 4Q 2010 update RUSSIA Minor recovery due weakened Ruble but rising domestic demand and rail limits CHINA Q1 Import rate eased due to slow return of industry. but not excessive AUSTRALIA Floods hamper Queensland output. Gas competes EAST ASIA Japan minor recovery. Diverted shipments to N. warm winter in the south and import price relatively high ATLANTIC Increased demand due to cold winter. Export to Asia stop REST OF ASIA Continued growth INDONESIA Rain in 1Q . 4 . loss approx. some LCV to Korea / China COLOMBIA Rains lower production. Korea andTaiwan strong recovery USA Thermal supply remains very low. but steel mills strong still.5 Mt thermal SOUTH AFRICA Continuing problems in rail eases short term. Buyers hoping prices ease = Demand = Demand/Supply = Supply 22 .Asia from China distort expectation INDIA Under recovery.

China thermal coal market review China thermal coal market review China domestic coal prices End Dec’10 21 Feb’11 (RMB) 837 775 493 China thermal coal imports and exports Mt Datong super mixed coal (6.com/cn 21 February 2011 Sources: China Coal Report February 2011.000 800 600 734 648 698 635 58 762 714 952 787 771 770 733 727 741 678 605 602 608 676 571 567577 427 458474 361 358 381 845 788 36 495 598 453 425 457 440 400 200 0 14 18 14 7 .sxcoal.14 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q101Q11e 2008 2009 Import 2010 Export 2011 Outlook Source: www. MS&L Estimates 23 .000 kcal/kg) Datong Shanxi Common (RMB) 840 785 493 85-120 93 Net import c.000 kcal/kg) Shanxi super mixed coal (5.200 1025 1. 92 Mt Net import 79 Mt RMB 1.500 kcal/kg) Common mixed coal (4.

Coal divisions 24 .5.

Coal divisions (a) Indonesia coal (b) Australia coal (c) China coal 25 .5.

to be Palangkaraya South Kalimantan finished 1Q11  Tandung Mayang: first output by 2H11 Banjarmasin JORONG POWER Operation Project 0.5 Mt Central Kalimantan Samarinda Balikpapan BHARINTO (Commissioning in 2H2011) KITADINEMBALUT 1.Indonesian coal operations in 2010 ITM OPERATIONS & PROJECTS (2010 saleable output) KITADIN-TANDUNG MAYANG Coal output :  4Q10 : 5.9 Mt Jorong Port with target of 0.3 Mt Bunyut Port Bontang Coal Terminal TRUBAINDO Captive coalfired power project Project updates:  Trubaindo: hauling road construction to 5.2 Mt connect Bharinto area continued  Bharinto: installing crusher plant.8 Mt  2010 : 22 Mt East Kalimantan (Commissioning in 2H2011) INDOMINCO 14.8 Mt for 2011  H11 COAL Operation Project 26 .

5 W Block E Block 11.7 10.6 10.Embalut CV: 5750 kcal/kg Start mining in difficult area so variation in SR is expected Note: output figures are saleable coal Additional contractor was added to support 2011 production East block West block 27 .2 16.4Mt 0.3 11.0 2.9 6.3Mt 1Q10 2Q10 3Q10 4Q10 1Q11e 1Q10 2Q10 3Q10 4Q10 1Q11e 1Q10 2Q10 3Q10 4Q10 1Q11e Indominco-Bontang CV: 6050 .2Mt 0.8 11.3 1Q10 2Q10 3Q10 4Q10 COAL OUTPUT (Mt) 3.5Mt 1Q10 2Q10 3Q10 4Q10 COAL OUTPUT (Mt) 1Q10 2Q10 3Q10 4Q10 COAL OUTPUT (Mt) 1Q10 2Q10 3Q10 4Q10 COAL OUTPUT (Mt) 0.9 2.1 1.3 1.6Mt 3.6Mt 3.6500 kcal/kg Higher SR due to mining in alternate area Trubaindo CV: 6250 .4 11.5Mt 2.1Mt 0.5 2.4 10.4 1.3Mt 1.7200 kcal/kg Jorong CV: 5300 kcal/kg Expect flat production due to limited reserves Kitadin .9 10.6Mt 1.4 16.4 10.9 6.1Mt 1.5Mt 3.3 11.1 1.2 16.Indonesian quarterly output and SR analysis STRIP RATIO (bcm/t) STRIP RATIO (bcm/t) STRIP RATIO (bcm/t) STRIP RATIO (bcm/t) 16.3Mt 0.4Mt 0.3Mt 0.3 11.5 1.0Mt 1Q10 2Q10 3Q10 4Q10 1Q11e 0.4Mt 0.3Mt 0.5 6.6Mt 3.4Mt 0.3 2.7 1.0 11.

Banpu average selling prices Banpu average selling prices in 4Q10 in 3Q10 USD/tonne 190 170 150 130 110 90 70 50 30 Quarterly BJI Quarterly ASP Monthly BJI Monthly ASP Product mixes with some lower CV impacted 2010 prices ASP 4Q10 vs. 3Q10 down 1% due to product mix Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Historical lags continue ASP 4Q10 $77.65t (+4% YoY) BJI* Feb 24.25t (-1% QoQ) ASP 2010 $74. 2011 $127.05 28 .

Indicative 2011 coal sales Coal sales contract and pricing status Coal sales contract and pricing status Contract Status Contracted Fixed Comment Historically low fixed price as of February at 40% Index Price Status 100% 11% 89% 40% 37% 23% Historically high committed share at 89% as of February Uncontracted Unpriced As of 22Feb’11 Remaining unsold mostly lower grade product TARGET SALES 2011: c.25.0 Mt 29 .

3Mt 1.Coal sales by sales by destination 2010 (22.5Mt OTHERS* 1.1Mt HONG KONG 1.6Mt 2008 2009 2010 1.2Mt 1.3 Mt 2011 1.4Mt 2.2Mt 2011 4.7Mt 1.1Mt Mid-to-High CV Low-to-Mid CV 2011 trend expectation *Includes small.3 Mt 2011 S.5Mt 1.KOREA 2.1Mt THAILAND 2.6Mt 1.9Mt 2.6Mt 1.9Mt 1.1Mt 2011 INDONESIA 2011 PHILIPPINES 2011 2008 2009 2010 1.7Mt 2008 2009 2010 INDIA 2.3Mt 2011 JAPAN 4.8Mt 1. nonregular purchasers 2008 2009 2010 2008 2009 2010 2008 2009 2010 30 .8Mt 1.2Mt 2008 2009 2010 2.9Mt TAIWAN 2008 2009 2010 2011 0.3 Mt) Indonesia coal geographic destination (ITM and Thai) ITALY 1.2Mt 2011 2008 2009 2010 0.4Mt 0.6Mt 2008 2009 2010 1.0Mt 0.8Mt CHINA 2011 5.2Mt 0.6Mt 0Mt 2008 2009 2010 4.7Mt 2.

Coal divisions (a) Indonesia coal (b) Australia coal (c) China coal 31 .5.

Australia coal WESTERN OPERATIONS Charbon Inglenook NORTHERN OPERATIONS ROM output (equity basis) :  4Q10 : 3.6Mt) following longwall changeover in previous quarter Sydney  Springvale: commenced longwall Open-cut mine Underground mine Project Power station Port Road Rail Note: Centennial equity ownership 100% unless shown in brackets changeover in late 4Q10 with extraction resuming in Feb 2011 Wollongong  Newstan Lochiel: pre-feasibility Port Kembla (PKCT) study completed.96 Mt Newstan Lochiel (development project) Awaba Newcastle Newcastle (NCIG) Port Waratah Airly Neubecks Ivanhoe North Angus Place Springvale Clarence Mandalong Operation and project updates:  Mandalong: achieved highest Myuna Mannering quarterly output in 4Q10 (1. progressing into feasibility phase  H11 32 .

8 6.6 13.2 2.9 3.0 849 5.9 Export 1.7 Clarence (85%) Springvale (50%) 4Q10 2010 4Q10 2010 Domestic Northern Operations Awaba (100%) Newstan (100%) Mandalong (100%) Mannering (100%) Myuna (100%) 4Q10 8.6 219 9.5 4.Australia coal in 4Q10 (equity basis) CENTENNIAL ROM Output (Mt) Sales (Mt) Revenue (AUD m) Export / Domestic (Mt) Western Operations Airly (100%) Angus Place (50%) Charbon (95%) 1.4 2.3 7.1 1.1 2.4 2010 4Q10 2010 4Q10 2010 4Q10 2010 33 .

Coal divisions (a) Indonesia coal (b) Australia coal (c) China coal 34 .5.

An extension of the license with local authority is under process .5 Mt 0. 4Q09 3Q10 4Q10 1Q11e 4Q09 3Q10 4Q10 1Q11e Daning CV: 6800-7300 Kcal/kg POWER COAL Operation Project Operation Project Hebi Zhong Tai Mining CV: 5300-6800 Kcal/kg Banpu 40% High ASP due to higher sales and prices of fine coal (PCI coal) to the steel industry. Shanxi 6 Mt BEIJING 286 466 505 382 487 512 4Q09 3Q10 4Q10 COAL OUTPUT (Mt ROM) 0. Shanxi 4 Mt Hebi (40%).53Mt 4Q09 3Q10 4Q10 COAL OUTPUT (Mt ROM) Daning (56%).38Mt 0.88Mt 0. Banpu 56% Ordered mine closure on Dec 31 due to license expiry.36Mt 0. Henan 1.A. COST (RMB/ t) 692 712 AVERAGE COAL PRICE PRICE vs. COST (RMB/ t) 764 AVERAGE COAL PRICE 718 622 499 PRODUCTION COST PRODUCTION COST Gaohe (45%).China coal operations BANPU CHINA 2010 COAL PRODUCTION TARGETS* PRICE vs.32Mt 0.61Mt 0. * ROM production 35 .37Mt N.

PRC utilizing Longwall mining technique Joint venture between Banpu (AACI) (45%) and Lu’an Mining Group (55%) Joint venture established in 2005 Obtained mining license in 2010 All key equipment and facilities (mine monitoring. coal preparation) are international standard Trial production in 2011 Full production in 2013 36 . hoisting.China coal project: Gaohe 6.0 Mtpa underground coal mine located in Shanxi Province. production.

Power division 37 .6.

979 2. million Q-Q: -47% Y-Y: -16% 10.829 Y-Y: -11% Q-Q: -43% Y-Y: -9% 19.960 2.843 3.307 1.Power Thailand : BLCP in 2010 (100% basis) Bt.502 344 3Q10 4Q10 2009 2010 311 3Q10 4Q10 2009 2010 Energy Payment (EP) EBIT 103 96% 96% 95% 96% 817 52 51 3Q10 4Q10 2009 2010 Q-Q: -66% Y-Y: -16% 9.035 3Q10 4Q10 2009 2010 3Q10 4Q10 2009 2010 Availability Payment (AP) Total revenue 531 FX gain Q-Q: -44% Y-Y: .278 2.535 Q-Q: -91% 8.456 1.834 6.807 8.697 17.3% 8.271 3.468 843 Equity income* 3Q10 4Q10 2009 2010 3Q10 4Q10 2009 2010 Dispatch (%) * Based on Banpu’s 50% interest EBITDA 38 .026 3.281 FX gain 1.412 296 2.151 Q-Q: -82% Y-Y: -20% 7.305 5.116 1.393 8.128 2.

762 3.42 0.2 8.823 Power tariff (RMB/kwh) Coal price** (RMB/t) 696 645 643 550 0.36 0.9 2.1 41.165 6.3 14.38 0.4 36. Steam 430tph (70%) 18.5 3.38 0.7 1.3 31.389 7.45 Zhengding Hebei Province Power 48MW.2 0.512 908 0.2 3. Steam 128tph (Banpu 100% ) 5.5 7.1 10.159 1.370 675 0.000 5.5 2.5 2.36 0. Steam 180tph (100%) 6.36 Note: * Unaudited figures.41 0. ** Including transportation 3Q10 4Q10 2009 2010 39 .36 0.42 Luannan Hebei Province Power 100MW.4 77.224 1.3 3.9 11.5 11.37 0.6 Utilization (hours) 6.524 7.254 849 776 648 798 0.3 66.Power China in 2010 (100% basis) BPIC Sales* (USD m) EBITDA (USD m) 40.8 11.38 676 535 651 Zouping Shandong Province Power 100MW.6 1.2 3.5 23.

Power Thailand : Hongsa project 1. Ratch (40%) and Lao government (20%) EPC agreed HONGSA POWER PLANT ARTIST’S IMPRESSION PPA execution in April 2010 Loan first drawdown completed in October 2010 40 .800 MW mine-mouth lignitefired power plant project COD targeted at 2015 Partnership between Banpu (40%).

Appendices 41 .

g.) 42 . regulatory. etc.Reserves and resources: definitions ILLUSTRATIVE ONLY Resources and reserves concepts Coal in the ground for which there are reasonable prospects for eventual economic extraction SUFFICIENCY OF GEOLOGICAL DATA FOR MINE PLANNING Conversion of resources to reserves 1 Economic assumptions Higher coal price increases the average strip ratio and allows more coal to be extracted Pit depth (m) Economically mineable part of a measured and indicated coal resources COAL RESOURCES Insufficient COAL RESERVES INFERRED Mineplan with feasibility study at 200m depth Mineplan with higher stripping ratio Original mine plan 0 Adequate INDICATED -50 2 1 Additional reserves Additional reserves Original reserves -100 -150 Extensive MEASURED -200 2 Original depth cut-off at 150m PROBABLE CONFIDENCE Reasonable PROVED High New depth cut-off at 200m 2 Technical feasibility New study could prove that additional coal can be mined and increases reserves base MODIFYING FACTORS (e. social. environmental.

629 1.704 4.645 25.901 4. million Total sales revenues* Sales revenues – Coal Sales revenues – Power (BIC) Cost of sales Gross profit* Gross profit .874 26.865 (38.865 52.992) 27.Operating profit Units: Bt.285 59.788 (29.788 796 41% 43% 16% 51% 25% Note: * Including other business 43 .Coal GPM – Power (BIC) 2010 65.182 48% 26.640) 2009 YoY % 13% 14% 2% -4% -3% -33% 57.Coal Gross profit – Power (BIC) GPM GPM .

467) 7.390) (6.955 4.117 489 1.017 (1.Operations EBIT EBIT .575 15.014 3.441) (6.414 23.645 41% (7.626) 21.Coal EBIT .Power EBITDA EBITDA .667 17.Power 2010 26. million Gross profit GPM SG&A Royalty Income from associates Dividend income – Coal & Power Other income Other expenses .561 21.785 YoY % -4% -14% -13% -19% -8% 18.830 -5% -18% 44 .004 3.253 4.966 18.874 48% (5.447 478 351 (2.Coal EBITDA .925) 6.327) 18.962 2009 27.Operating profit Units: Bt.

574) 12.575 (1.Operating profit Units: Bt.541 187 24.667 (1.730 14.306 13.229 52.282) (181) (4.00 2009 21.987) 11.36 YoY % -14% EBIT Interest expenses Financial expenses Income tax (core business) Minorities Net profit before extra items Non-recurring items* Net profit before FX -6% 66% 74% FX translations Net profit EPS (Bt/share) Note: * Income from non-core assets and other non-operating expenses 45 .728 91.235 24.020 2. million 2010 18.682) (299) (3.301) (1.611) (3.751 (521) 14.

066 203 34% 35% 15% 7.985 100 45% 47% 10% 4Q09 17.051) QoQ% 57% 59% 44% 18% YoY% 23% 27% -6% -2% 7.230 7.713 1.688 12.477 (10.979 367 42% 44% 25% 18% 102% 1% -45% 46 .Coal GPM – Power (BIC) Note: * Including other business 4Q10 21.391 (14. million Total sales revenues* Sales revenues – Coal Sales revenues – Power (BIC) Cost of sales Gross profit* Gross profit .507 20.607 970 (7.026 1.376 6.550) 6.428 15.Operating profit Units: Bt.277) 3Q10 13.Coal Gross profit – Power (BIC) GPM GPM .137 5.

715 3.Operating profit Units: Bt.101 3. million Gross profit GPM SG&A Royalty Income from associates Dividend income – Coal & Power Other income Other expenses .230 34% (2.Coal EBIT .407 1.854 1.542) 1.066) 522 374 (190) 3.438 4Q09 7.881) 1.240 475 QoQ% 18% YoY% -2% -35% -6% na.820) (1.121 2.888 26 3Q10 6.Operations EBIT 4Q10 7.194 (93) 4.676 239 72 (498) 3.Power EBITDA EBITDA .914 4.347 5.Coal EBITDA . -7% 27% -98% -1% 18% na.292 3.770) (2. 32% 51% -95% EBIT .754 3.254 239 309 (110) 4.697 424 3.137 45% (1.534) (1.376 42% (1.Power 47 .

641 4.620 303 4. million 4Q10 3.101 (719) (126) (754) (467) 1.136 9.04 Note: * Income from non-core assets and other non-operating expenses 48 .062 231 13.926 13.92 -67% -65% -63% 11% 167% 200% 796 1.754 4Q09 3.121 (289) (55) (927) (914) 935 QoQ% -35% YoY% -1% EBIT Interest expenses Financial expenses Income tax (core business) Minorities Net profit before extra items Non-recurring items* Net profit before FX FX translations Net profit EPS (Bt/share) (383) (77) (827) (332) 3.293 48.12 6.586 3Q10 4.923 18.034 3.Net profit Units: Bt.731 (90) 1.

8 3.a n.8 45.4 17.9 100.8 n.9 4.0 26.a n.1 3.3 46.0 7.2 292.4 697.1 300.7 41.2 135.4 4.00 2.00 100.1 371.1 0.0 0.00 100.a n.7 88.0 18.7 n.1 7.7 1.1 7.1 166.4 2.7 245.9 8.2 2. Figures have been estimated in accordance to JORC Code unless otherwise stated * Figures have been estimated in accordance to Chinese reporting standard .5 49 Note: All reserves and resources in Mt.2 185.2 27.a n.4 0.6 9.0 7.6 113.6 92.4 1.9 0.4 189.6 0.8 89.5 343.a n.7 8.0 33.0 137.8 0.0 46.2 56.a n.a n.9 45.9 108.1 89.a n.4 146.5 3.2 2.00 95.7 196.9 74.7 47.8 194.7 491.9 4.99 64.1 11.2 149.6 334.3 14.6 2.3 0.9 0.79 64.1 41.1 61.00 100.2 25.5 7.a n.a n.2 164.00 40.211.0 14.5 145.00 100.0 9.330.1 78.a 56.9 0.2 0.5 31.9 190.4 32.2 62.7 28.0 0.7 44.2 29.3 2.3 45.7 1010.a n.00 100.0 41.5 32.0 1.3 Interest (%) End December 2010 Measured Resources Indicated Resources Total Resources Proved Reserves Probable Reserves Total Reserves Jan .Banpu’s resources & reserves statement (100% basis) Mine operation and project INDONESIA Jorong Indominco Kitadin Trubaindo Bharinto CHINA Daning Hebi* Gaohe AUSTRALIA Airly Angus Place Awaba Charbon Clarence Ivanhoe Mandalong Mannering 100.1 114.6 24.00 0.5 298.3 119.4 104.6 34.8 190.278.7 105.a n.2 54.6 64.0 8.00 50.00 95.1 60.0 1.6 6.Dec 2010 Coal Sales End December 2009 Total Resources Total Reserves Myuna Springvale Inglenook Neubacks Newstan Newstan Lochiel Total 100.7 17.5 141.a n.0 592.99 64.1 193.a n.7 51.00 50.9 35.a n.5 12.a n.1 227.2 5.7 59.7 176.a n.1 97.4 70.7 0.6 3.1 1.00 100.a 2.00 50.0 31.0 2.8 372.0 1.0 77.127.7 298.7 1.6 183.00 45.1 254.5 1.a n.6 743.2 135.6 340.0 7.0 23.0 518.0 18.0 275.7 n.a n.0 16.5 0.4 2.4 60.a n.6 39.a n.2 191.5 1.4 1.1 296.7 0.35 133.6 17.a n.4 97.a 606.7 116.5 54.8 60.3 0.3 5.5 0.0 4.2 1.a n.5 166.5 26.9 27.00 85.5 7.a n.5 1.00 144.99 64.a n.5 45.9 67.

Key Centennial assets WESTERN OPERATIONS NORTHERN OPERATIONS Newstan Newcastle Lochiel Newcastle (NCIG) (100%) 30 Mtpa Charbon* (95%) Airly (100%) 0. of all coal output) Asian benchmark 6700 6700 Inglenook (95%) (exploration area) Gross Calorific Value (air dried basis) 6700 Awaba (100%) 0.7 Mtpa Mannering* (100%) * Total of 2.70% Clarence* (85%) *Charbon and Clarence 2.6 Mtpa 0.1 Mtpa Coal specifications Centennial (avg.4Mtpa Open-cut mine Underground mine Project Power station Port Road Rail Note: Centennial equity ownership 100% unless shown in brackets 0% Ash Sydney (air dried basis) 16% 7% 20% 0% Wollongong 50 Total Moisture (as received) 30% 9% 0 25 12% Kilometers Port Kembla (PKCT) 15 Mtpa (16.9 Mtpa (8. 50 .66%) 0% Disclaimer: This document contains information relating to Centennial Coal Company Limited. No representation or warranty is made as to the accuracy.65% 0.79%) Myuna* (100%) Mandalong (100%) 5. completeness or reliability of such information.1Mtpa Total Sulphur (air dried basis) 2% Springvale (100%) 1.3 Mtpa 4000 Neubecks (50%) Ivanhoe (100%) (mine under rehabilitation) Angus Place (50%) 1. which has been derived from publicly available sources and has not been independently verified.