Cokal (CKA) Investor presentation summary

Strategic vision and partnerships

• Focus on sustainable growth through strategic partnerships and integrated logistics in Central Kalimantan.

• Strong alignment with long-term shareholders, global marketing partners, and leading Indonesian mining contractors.

• Partnerships with Petrindo and Petrosea support infrastructure and production scale-up.

Asset portfolio and market overview

• Four metallurgical coal assets totaling over 52,000 ha, with flagship BBM project and integrated logistics platform.

• BBM holds 60% interest, TBAR 75%, BBP 60%, and AAK 75%, with logistics fully owned.

• Market cap of A$64.7m, enterprise value A$111.7m, and net debt A$47m as of August 2026.

BBM project operations and production

• BBM has 23.1Mt reserves (13.7Mt Proven, 9.3Mt Probable) and 260.1Mt resources (100% basis).

• 2026 production revised due to Indonesian RKAB constraints, not mining capacity.

• Production ramp-up from 60-80kt in 2026 to 1.0Mtpa near-term, with 6.0Mtpa permitted capacity.

• Saleable output projected to grow to ~802kt by 2028, with PCI product introduced that year.