OPC Purchase

Project Status Report

17 March 2021

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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Content

1. Program Timeline

2. Program Status Dashboard

3. Project Detail Status

4. Delivery & Installation Schedule

5. Action Item from Last Meeting & Next Steps

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 Program Timeline (Plan vs Actual)
2020 2021

Q4 Q1 Q2 Q3 Q4

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Yokogawa
(PMB: Stock Prep B, Purchasing
Installation
PM3, PM6) Delivery
IKS

Valmet
(PMA: Stock Prep A,
PM1, PM2, PM5) Purchasing
Installation
Delivery

Valmet
(PF2: PM8)
Purchasing
Installation
ABB Delivery
(PF2: PM5, PM6,
PM9; PF3: PM12;
PF5: PM12)
TK

Purchasing
Honeywell Installation
Delivery
(PF1: PM1, PM2,
PM3; PF3: NCR)

Purchasing
ABB Installation
Delivery
(PD1: PM4, PM5;
PD2: PM12, NCR)

Honeywell
Purchasing
(PD1: PM1, PM2;
PD2: PM10, PM11, Installation
PM15) Delivery
PD

Purchasing
Installation
Delivery

End of Activity (Milestone) – Planned Activity in Progress – On Track Activity (Milestone) Completed
Legend: End of Activity (Sub Milestone) – Planned Activity in Progress – Potential Delay Actual (overdue)
Planned Activity (Milestone) Delayed 3
© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Dependency 3
Program Status Dashboard

Target progress: 100% Actual Progress: 92% Overall Status:

Actual % Target % Actual

Mill Name Project Milestone Plan Start Plan Finish Actual Start Status
Finish Completion Completion

Yokogawa OPC Purchase 1-Nov-21 11-Nov-21 100% 100%

IKS
Valmet OPC Purchase 31-Jan-21 3-Feb-21 100% 100%

Valmet OPC Purchase 15-Jan-21 100% 95%

TK ABB OPC Purchase 31-Dec-21 100% 95%

Honeywell OPC Purchase 31-Jan-21 100% 80%

ABB OPC Purchase 31-Dec-21 100% 95%

PD
Honeywell OPC Purchase 31-Jan-21 100% 80%

Category Status Rationale Legend :

Scope No Issue On Track

Schedule Delay in vendor awarding may lead to delay on overall project At Risk of Delay

Resources No Issue Delayed

Communication No Issue Completed

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 IKS Yokogawa – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion

Vendor Awarding Vendor Awarding letter Fernando 11-Nov-21

Down Payment Down Payment settlement Fernando 31-Dec-21 20-Jan-21

Fernando/
Delivery Receipt of goods In progress for delivery 30-Jun-21
Hendra M.
Operational or performance test Need to upgrade DCS during Hur Heri/
Installation 31-Sep-21
results shutdown (PMB) Hendra M.

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 IKS Valmet – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion
Vendor Awarding Vendor Awarding letter Contract sign-off Fernando 31-Jan-21 3-Feb-21
• In progress for Down Payment
settlement (submitted to
Down Payment Down Payment settlement Fernando 1-Mar-21
Finance)
• FU to Bu Indrawati Lukman
Fernando/
Delivery Receipt of goods 15-Apr-21
Mill PIC
Operational or performance test Hur Heri/
Installation 15-May-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 TK Valmet – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion
Vendor Awarding Vendor Awarding letter William 15-Jan-21 3-Feb-21
In progress for:
• PO has been created
Down Payment Down Payment settlement • In progress for counter sign William 15-Jan-21
(target date: 24-Mar-21)
• Next: Down Payment
William/
Delivery Receipt of goods 30-Apr-21
Mill PIC
Operational or performance test Nur Heri/
Installation 31-Jun-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 TK ABB – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion
Vendor Awarding Vendor Awarding letter Vendor has been awarded William 31-Dec-21 15-Mar-21
• PO has been released 16-Mar-
21
Down Payment Down Payment settlement William 31-Dec-21
• In progress for counter sign
(target: 19-Mar-21)
William/
Delivery Receipt of goods 1-Sep-21
Mill PIC
Operational or performance test Nur Heri/
Installation 30-Sep-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 TK Honeywell – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion
• Final price has been submitted
Vendor Awarding Vendor Awarding letter to board (15-Feb-21) William 31-Jan-21
• In progress for Board approval
Down Payment Down Payment settlement William 31-Jan-21
William/
Delivery Receipt of goods 15-Sep-21
Mill PIC
Operational or performance test Nur Heri/
Installation 15-Oct-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 PD ABB – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion
Vendor Awarding Vendor Awarding letter Vendor has been awarded Kent Samuel 31-Dec-21 15-Mar-21
• PO has been released 16-Mar-
21
Down Payment Down Payment settlement Kent Samuel 31-Dec-21
• In progress for counter sign
(target: 19-Mar-21)
Kent Samuel/
Delivery Receipt of goods 1-Sep-21
Mill PIC
Operational or performance test Nur Heri/
Installation 30-Sep-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 PD Honeywell – Detail Status
Key Milestone & Deliverables Status

Last Week Update Target Actual

Milestone Deliverables / Output PIC Status
(3-Mar-21) Completion Completion

Final price has been submitted to

Vendor Awarding Vendor Awarding letter Kent Samuel 31-Jan-21
board

Down Payment Down Payment settlement In progress for Board approval Kent Samuel 31-Jan-21

Kent Samuel/
Delivery Receipt of goods 15-Sep-21
Mill PIC
Operational or performance test Nur Heri/
Installation 15-Oct-21
results Mill PIC

Key Issue / Risk

Resolution
No. Issue/ Risk Description Impact Priority Status Action Plan Follow up with Due date
Date

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 Delivery & Installation Schedule
Plan Plan Plan
Delivery Shutdown Shutdown Installation
Mill Name Vendor Mill PIC Delivery Arrival Installation
Duration Required Schedule Duration
Date Date Date
Yokogawa OPC Purchase Feb-21 5 mos. Jun-21 Yes Sep-21 Sep-21
IKS
Valmet OPC Purchase 15-Apr-21
3 mos. (after
Valmet OPC Purchase DP)
No 8 days

4.5 – 5 mos.
(arrival in
ABB OPC Purchase Tanjung
No 19 days
TK Perak)
6 mos. CFR
(arrival in
Honeywell OPC Purchase Tanjung
No 34 days
Perak)
5 mos. CFR
ABB OPC Purchase (arrival in No 10 days
port)

PD Yes (if
6 mos. CFR
needed to
(arrival in
Honeywell OPC Purchase Tanjung
restart 44 days
server; 1 day
Priok)
only)

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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Notes from This Week & Next Steps

Raised Date
No Topic / issue Action Point Follow-up PIC Due Date Status
By Raised
Delivery & Gather information for
1 Installation delivery & installation Tannia Fernando 17-Mar-19 18-Mar-19 Open
Sched. duration for IKS Valmet
IKS Yokogawa Need update on delivery Hendra
2 Tannia 17-Mar-19 18-Mar-19 Open
Delivery progress from user Mahadina
Delivery & Forward ABB (TK & PD) PO Kent
Nur Heri
3 Installation no. to Pak Suresh to negotiate Samuel/ 17-Mar-19 18-Mar-19 Open
W.
Sched. for faster delivery schedule William

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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 THANK YOU

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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