BUMA International Group Sustains Operational Improvements in 9M2026 Despite External Factors Beyond Its Control Weighing on Third-Quarter Performance

Jakarta, 13 November 2026 – PT BUMA Internasional Grup Tbk (IDX: DOID) (“BUMA International Group” or “the Group”) continued to improve its productivity and operational efficiency in the nine months ended 30 September 2026 (“9M26”), building on first-half improvements in EBITDA, margins, and cost efficiency. These gains helped cushion the financial impact of lower operating activity caused by external factors beyond the Group’s control in 3Q26.

In 3Q26, a disruption affecting a key client site in Indonesia resulted in temporary suspension of BUMA’s operations, with the client declaring force majeure during the quarter. The suspension severely affected production volumes and weighed on financial performance during what is typically the Group’s strongest quarter, when favourable weather generally supports higher production. BUMA restarted operations at the client’s site in October, with full ramp-up expected in November. Discussions with the client are underway to normalise operations in 2027.

Operational and Cost Highlights in 3Q26

The Group’s Indonesian operations continued to improve productivity and operating efficiency in 3Q26. Productivity increased 3% quarter-on-quarter (QoQ), while non-productive hours per unit declined 29%. Cycle time at its largest Indonesian site also shortened by 10%, reflecting improvements in operational execution.

Fleet physical availability improved QoQ. Equipment downtime per unit fell 28% QoQ, although reduced equipment usage also contributed to the decline.

Fuel prices fell 15% QoQ and consumption per bank cubic metre (“BCM”) declined 2%, supporting a 14% reduction in fuel cost per BCM. Lower fuel costs partly offset higher manpower and maintenance costs per BCM as fixed costs were spread over lower production volumes. Indonesian unit cash costs per BCM, excluding severance, increased 2% against a 31% decline in overburden volumes.

Corporate Developments in 3Q26

The Group received a US$40 million dividend from Asiamet following the sale of Indokal Limited (which owns a 100% interest in the KSK Project), equivalent to approximately 1.7 times its cumulative investment of US$23.3 million. The dividend supported the Group’s liquidity.

BUMA Indonesia also strengthened its senior leadership team across operational and corporate functions, bringing in senior expertise to further improve operational performance, strengthen asset management, and support future business growth.

9M26 Results Highlights

Group overburden removal declined 25% year-on-year (YoY) to 253 million bank cubic metres (“MBCM”), while coal production declined 28% YoY to 43 million tonnes. The decline reflected planned contract completions at Berau Coal’s Binungan and Resource Alam Indonesia’s Insani Bara Perkasa sites in Indonesia, and Bowen Coking Coal’s Burton site and Stanwell’s Meandu site in Australia, alongside planned ramp-downs and the third-quarter client-site suspension.

Several operations demonstrated stronger performance. In Australia, Blackwater and Goonyella delivered combined overburden removal of 51 MBCM, up 12% YoY. Meanwhile, in Indonesia, coal production at South Tutupan site reached its highest quarterly level since 1Q23 during 3Q26.

Group revenue declined 18% YoY to US$929 million. Mining contractor revenue decreased 17%, partly cushioned by a 10% increase in average selling prices (ASP) as higher coal prices supported tier-price rates. EBITDA declined 23% YoY to US$97 million. Workforce adjustments implemented in 2025 and ongoing efficiency measures helped manage the Group's cost base, contributing to a 21% YoY reduction in cash costs excluding fuel to US$577 million, alongside lower operating activity. Higher fuel prices compared with 9M25 nevertheless had an adverse US$11 million impact on EBITDA.

The net loss narrowed 47% to US$43 million. The Asiamet dividend following the sale of Indokal Limited helped reduce the Group’s losses, together with lower depreciation and amortisation, higher foreign exchange gains and asset disposal gains.

Free cash flow improved to positive US$44 million in 9M26, from negative US$49 million in 9M25, supported by disciplined capital spending, investment distributions, and proceeds from asset disposals. Capital expenditure declined 59% YoY to US$61 million, reflecting equipment redeployment, refurbishment, and more selective capital allocation.

Silfanny Bahar, Director of BUMA International Group, stated: “External challenges reduced operational activity in the third quarter, but we continued to improve productivity, fleet reliability and fuel efficiency. This progress shows that the actions taken through 2025 and into 2026 continue to strengthen our underlying operations. Our priority is to preserve these gains, maintain operational continuity, and manage our financial commitments, while working closely with our customers and financing partners. At the same time, we continue to strengthen our capabilities and cost structure to support long-term resilience.”

ESG Highlights

Alongside its operational and financial priorities, the Group continued advancing its sustainability initiatives. Emissions intensity remained broadly stable QoQ, while BUMA Indonesia's South Tutupan site recorded a third consecutive quarter of reductions in emissions intensity, alongside a 24% QoQ increase in production.

Beyond the reporting period, in early October 2026, the Group also continued investing in the next generation of skilled workers through BUMA School. During the 2025/2026 academic year, 200 students from 10 vocational high schools successfully completed the programme, all earning Basic Mechanic Course certification. Of these, 170 also obtained BNSP mechanic competency certification. The program also provided 20 students with practical workplace exposure through industry internships at BUMA's Rebuild Centre in Balikpapan.

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About PT BUMA Internasional Grup Tbk (BUMA International Group)

Established in 1990, PT BUMA Internasional Grup Tbk (BUMA International Group) is a globally diversified mining holding company with operations across Indonesia, Australia, and the United States. The Group operates under four key business pillars: Mining Services, Mine Ownership, Social Enterprise, and Technology.

At the core of its Mining Services operations is PT Bukit Makmur Mandiri Utama (BUMA), one of the largest mining services providers in Indonesia and Australia (operating under its wholly owned subsidiary, BUMA Australia Pty Ltd). The Group transformed its business as a mine owner in 2024 with the acquisition of Atlantic Carbon Group, Inc. (ACG), positioning itself as one of the leading producers of ultra-high-grade anthracite in the United States.

Expanding its diversification, the Group entered the future-facing commodities sector in 2024 by acquiring a stake in 29Metals Limited, an Australian-based copper and base metals mining company. The Group’s other portfolios include PT Bukit Teknologi Digital (BTech), focusing on developing deep learning technologies aimed at enhancing operational efficiency, reducing emissions, and minimizing Occupational Health and Safety (OHS) risks, and PT BISA Ruang Nuswantara (BIRU), a social enterprise dedicated to education, vocational training, and promoting a circular economy.

Headquartered in Jakarta, BUMA International Group is publicly listed on the Indonesia Stock Exchange (IDX: DOID) and employs over 11,000 people worldwide. In June 2026, the company was once again recognized in the FORTUNE Southeast Asia 500, underscoring its position as one of the region’s largest companies by revenue.

About PT Bukit Makmur Mandiri Utama (BUMA)

Established in 1998, BUMA is one of the largest coal mining services contractors in Indonesia by production volume, providing mining services to some of the largest coal producers in Indonesia. BUMA is a subsidiary of PT BUMA Internasional Grup Tbk (BUMA International Group) which is listed on the Indonesia Stock Exchange (IDX Code: DOID). BUMA is headquartered in Jakarta, Indonesia.