ADARO ENERGY TBK.

Company Profile

PTAdaroEnergyTbk.wasestablishedbyNotarialDeedNo.25dated July28th,2004ofSukawatySumadi,S.H.,NotaryinJakarta.In accordancewith Article 3 of the Articles of Association, the Company is engaged intrading,services, industry,coalhauling,workshopactivities,miningandconstruction.TheCompanys subsidiaries are engaged in coal mining, coal trading, mining contractorservices,infrastructure,coallogisticsandpowerplantservices.TheCompany commenced its commercialoperations in July2005. TheCompanysheadoffice isdomiciled in Jakarta and located atMenara KaryaBuilding,23rd Floor, Jln.H.R.RasunaSaidBlockX5,Kav.12,SouthJakarta.TheCompany iscurrently Indonesia'ssecond largestthermalcoalproducer,operatesthelargest singlecoalmine in Indonesia,and isa significant supplier to theglobal seabornethermalcoalmarket.AsatSeptember30th,2011theGrouphad6,791employees.

January 2012

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ADROC O M P A N Y R E P O R T

COMPANY REPORT : JANUARY 2012 As of 31 January 2012 Main Board Individual Index : Industry Sector : Mining (2) Listed Shares : Industry Sub Sector : Coal Mining (21) :

COMPANY HISTORY SHAREHOLDERS (January 2012)Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments :Listing Date : 16-Jul-2008 2. Garibaldi Thohir :Under Writer IPO :

PT Danatama Makmur DIVIDEND ANNOUNCEMENTSecurities Administration Bureau : Bonus Cash

PT Ficomindo Buana Registrar Shares DevidendMayapada Tower 10th Fl. Suite 02 B 11.80Jln. Jend. Sudirman Kav. 28 Jakarta 12920 12.00Phone : 521-2316, 521-2317 17.00Fax : 521-2320 9.85

20.50BOARD OF COMMISSIONERS USD 0.00235

Edwin SoeryadjayaLim Soon Huat ISSUED HISTORYPalgunadi Tatit Setyawan *)Raden Pardede Type of ListingSubianto 1. First IssueTheodore Permadi Rachmat 2. Company Listing

*) Independent Commissioners

BOARD OF DIRECTORSGaribaldi ThohirAndre Johannes MamuayaChia Ah HooChristian Ariano RachmatDavid TendianM. Syah Indra AmanSandiaga S. Uno

AUDIT COMMITTEEPalgunadi Tatit SetyawanIrwandy Arif Mamat Ma'mun

CORPORATE SECRETARYDevindra Ratzarwin

HEAD OFFICEMenara Karya, 23rd Fl.Jln. H.R. Rasuna Said, Blok X-5, Kav. 1-2, Jakarta 12950Phone : (021) 521-1265Fax : (021) 5794-4687

Homepage : www.adaro.comEmail : corpsec@ptadaro.com

20,846,631,000 16-Jul-08 16-Apr-0911,139,331,000 16-Jul-08 16-Jul-08

2011 28-Nov-11 29-Nov-11 01-Dec-11 09-Dec-11 I

Shares

07-Jun-10 18-Jun-10 F

FI

Date DateListing Trading

2010 27-May-11 30-May-11 01-Jun-11 09-Jun-112010 26-Nov-10 29-Nov-10 01-Dec-10 10-Dec-10

2.3.

1.2.

6.5.

3.4.

1.

1.2.

5.

3.

4.

6.7.

11-Dec-09 14-Dec-09 16-Dec-09 30-Dec-09 I

ADROAdaro Energy Tbk. [S]166.364

31,985,962,000

25-Aug-09Date

Market Capitalization

Cum Ex

2008 26-Aug-09Date

2009 02-Jun-10 03-Jun-10

Year

200928-Aug-09 11-Sep-09 F

Date F/IDate

58,534,310,460,000

Payment

1,967,600,654 6.15%43.91%14,045,425,500

Recording

TRADING ACTIVITIESFreq. Volume Value

Month High Low Close (X) (Thou. Sh) (Million Rp) Jul-08 1,760 1,500 1,690 25,651 1,831,006 3,057,679 11 Aug-08 1,680 1,490 1,540 8,214 769,352 1,201,053 20 Sep-08 1,550 1,240 1,400 8,683 751,897 1,082,680 21 Oct-08 1,350 490 680 8,436 766,650 542,196 16 Nov-08 850 460 520 9,741 359,268 218,578 20 Dec-08 550 460 485 9,200 307,236 155,201 19 Jan-00 Jan-09 760 485 740 14,818 627,997 409,536 19 Feb-09 890 710 770 10,870 369,076 297,189 20 Mar-09 1,000 710 880 12,670 615,398 545,300 20 Apr-09 1,060 880 1,020 34,216 1,232,844 1,201,294 20 May-09 1,360 1,000 1,340 46,156 1,557,279 1,868,507 20 Jun-09 1,450 1,050 1,200 57,577 3,650,746 4,592,454 22 Jul-09 1,300 1,070 1,280 29,339 15,054,731 16,952,862 21 Aug-09 1,520 1,260 1,360 58,823 2,316,697 3,224,002 20 Sep-09 1,440 1,310 1,430 30,056 1,046,865 1,441,429 18 Oct-09 1,630 1,370 1,540 51,434 2,056,029 3,091,310 22 Nov-09 1,770 1,490 1,740 52,740 2,981,716 4,983,879 20 Dec-09 1,780 1,650 1,730 25,903 1,492,509 2,545,435 19 Jan-00 Jan-10 2,075 1,730 1,890 61,583 2,799,639 5,331,665 20 Feb-10 1,960 1,760 1,830 62,241 2,100,343 3,875,968 19 Mar-10 1,980 1,820 1,960 53,408 2,193,373 4,134,081 22 Apr-10 2,250 1,970 2,200 47,066 2,289,030 4,885,796 21 May-10 2,175 1,700 2,000 62,496 2,256,118 4,396,708 19 Jun-10 2,100 1,820 1,990 46,897 1,804,252 3,538,083 22 Jul-10 2,100 1,940 2,000 22,120 1,301,338 2,636,195 22 Aug-10 2,150 1,880 1,900 33,954 1,342,163 2,723,121 21 Sep-10 2,125 1,760 2,025 63,258 2,156,620 4,227,054 17 Oct-10 2,300 2,000 2,100 27,439 1,524,272 3,226,243 21N 10 2 500 2 100 2 325 23 353 1 733 585 4 064 785 21

Day

Adaro Energy Tbk. [S]

Closing Price

100

200

300

400

500

600

700

425

850

1,275

1,700

2,125

2,550

2,975

Jul 08 Apr 09 Jan 10 Oct 10 Jul 11

ADARO ENERGY TBK. [S]JULY 2008 - JANUARY 2012

CLOSING PRICE* AND TRADING VOLUMEClosing

Price* Volume (Mill. Sh)

60%

80%

100%

60%

80%

100%

Jakarta Composite IndexMining IndexClosing Price

CHANGE OF CLOSING PRICE

JULY 2008 - JANUARY 2012MINING INDEX AND JAKARTA COMPOSITE INDEX

ADRO

Nov-10 2,500 2,100 2,325 23,353 1,733,585 4,064,785 21 Dec-10 2,650 2,250 2,550 19,294 1,414,180 3,587,072 20 Jan-00 Jan-11 2,900 2,225 2,250 43,230 1,713,532 4,350,610 21 Feb-11 2,500 2,250 2,450 28,318 1,202,450 2,872,429 18 Mar-11 2,475 2,175 2,200 46,772 1,404,886 3,245,738 23 Apr-11 2,350 2,200 2,200 37,572 1,105,133 2,502,053 20 May-11 2,475 2,200 2,450 48,050 1,735,498 4,063,096 21 Jun-11 2,500 2,250 2,450 19,872 834,507 2,009,815 20 Jul-11 2,700 2,450 2,650 20,831 1,032,290 2,644,882 21 Aug-11 2,700 1,990 2,025 44,376 1,384,272 3,166,937 19 Sep-11 2,125 1,430 1,720 63,571 1,819,818 3,335,150 20 Oct-11 2,150 1,500 2,025 63,762 1,830,149 3,396,335 21 Nov-11 2,150 1,830 1,910 41,895 1,180,537 2,322,064 22 Dec-11 2,025 1,730 1,770 41,384 1,070,469 1,977,409 21 Jan-00 Jan-12 1,860 1,750 1,830 36,837 999,140 1,807,345 21 Feb-12

SHARES TRADED 2008 2009 2010 2011 Jan-12 Mar-12Volume (Million Shares) 4,785 33,002 22,915 16,314 999 Apr-12Value (Billion Rp) 6,257 41,153 46,627 35,887 1,807 May-12Frequency (X) 69,925 424,602 523,109 499,633 36,837 Jun-12Days 107 241 245 247 21 Jul-12

Aug-12Price (Rupiah) Sep-12 High 1,760 1,780 2,650 2,900 1,860 Oct-12 Low 460 485 1,700 1,430 1,750 Nov-12 Close 485 1,730 2,550 1,770 1,830 Dec-12 Close* 485 1,730 2,550 1,770 1,830 Jan-00

Jan-13PER (X) 17.49 12.67 36.95 13.02 13.46 Feb-13PER Industry (X) 19.09 26.37 17.69 7.48 7.43 Mar-13PBV (X) 1.11 3.17 4.39 2.76 2.85 Apr-13

May-13* Adjusted price after corporate action

-80%

-60%

-40%

-20%

-

20%

40%

-80%

-60%

-40%

-20%

-

20%

40%

Jul 08 Apr 09 Jan 10 Oct 10 Jul 11

Financial Data and RatiosPublic Accountant : Tanudiredja, Wibisana & Rekan (Member of PricewaterhouseCoopers Global Network) Book End : December

BALANCE SHEET Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011(Million Rp except Par Value)Cash & Cash Equivalents 2,415,853 11,274,623 5,459,971 5,149,253

Adaro Energy Tbk. [S] ADRO

48,750

TOTAL ASSETS AND LIABILITIES(Billion Rupiah)

Receivable 2,349,929 2,903,619 2,504,335 3,933,073

Inventories 304,670 250,450 288,732 358,999Current Assets 7,856,799 15,836,859 10,200,290 12,489,168Fixed Assets 5,924,184 7,415,677 8,810,252 11,158,289Other Assets 30,577 51,607 72,947 116,552Total Assets 33,720,170 42,465,408 40,600,921 48,138,376Growth (%) 25.93% -4.39% 18.56%

-

9,750

19,500

29,250

39,000

Assets Liabilities

Current Liabilities 6,721,627 7,996,026 5,793,531 7,425,507Long Term Liabilities 12,970,919 16,957,448 16,176,838 20,182,965Total Liabilities 19,692,546 24,953,474 21,970,369 27,608,473Growth (%) 26.72% -11.95% 25.66%

Minority Interest 18,379 67,043 54,111 -Authorized Capital 8,000,000 8,000,000 8,000,000 8,000,000Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596Paid up Capital (Shares) 31,986 31,986 31,986 31,986

2008 2009 2010 Sep-11

14,009

17,44518,576

20,530

12,318

16,424

20,530

TOTAL EQUITY (Billion Rupiah)

Par Value 100 100 100 100Retained Earnings 422,141 4,028,127 5,376,617 7,430,184Total Equity 14,009,245 17,444,891 18,576,441 20,529,903Growth (%) 24.52% 6.49% 10.52%

INCOME STATEMENTS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011Total Revenues 18,092,502 26,938,020 24,689,333 25,806,349Growth (%) 48.89% -8.35%

-

4,106

8,212

,3 8

2008 2009 2010 Sep-11

TOTAL REVENUES (Billion Rupiah)Expenses 13,149,270 15,900,123 16,957,291 16,930,684Gross Profit 4,943,232 11,037,897 7,732,042 8,875,664Operating Expenses 731,374 1,109,450 957,764 837,691Operating Profit 4,211,858 9,928,447 6,774,278 8,037,974Growth (%) 135.73% -31.77%

Other Income (Expenses) -1,287,154 -1,350,066 -1,724,360 -2,176,131Income before Tax 2,924,704 8,578,381 5,049,918 5,861,842Tax 1,601,976 4,119,101 2,668,668 2,543,989

18,093

26,93824,689 25,806

10,775

16,163

21,550

26,938

TOTAL REVENUES (Billion Rupiah)

Minority Interest 63,601 -48,559 -2,593 -Net Income 887,198 4,367,252 2,207,313 3,260,998Growth (%) 392.25% -49.46%

RATIOS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011Current Ratio (%) 116.89 198.06 176.06 168.19Dividend (Rp) - 11.80 29.00 30.35 -EPS (Rp) 27.74 136.54 69.01 101.95BV (Rp) 437.98 545.39 580.77 641.84

-

5,388

2008 2009 2010 Sep-11

4,367

3 261

4,367

NET INCOME (Billion Rupiah)

DAR (X) 0.58 0.59 0.54 0.57DER(X) 1.41 1.43 1.18 1.34ROA (%) 8.67 20.20 12.44 12.18ROE (%) 20.88 49.17 27.18 28.55GPM (%) 27.32 40.98 31.32 34.39OPM (%) 23.28 36.86 27.44 31.15NPM (%) 4.90 16.21 8.94 12.64Payout Ratio (%) 42.54 21.24 43.98 -Yield (%) 2.43 1.68 1.19 -

887

2,207

3,261

-

873

1,747

2,620

3,494

2008 2009 2010 Sep-11