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PT. BAYAN RESOURCES Tbk.

Third Quarter 2009 Update PresentationThird Quarter 2009

Update Presentation

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Operational Performance

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(1) Average Cash Costs include Royalty, Barging, SGA(2) US$ is a convenience translation using the average quarterly exchange rate

(million BCM)

Overburden Removal VolumeOverburden Removal Volume

(million MT)

Coal Production VolumeCoal Production Volume

Weighted Average Strip RatioWeighted Average Strip Ratio

(US$ / MT)

Average Cash Costs per MTAverage Cash Costs per MT(*)(*)

*

2

Financial Performance

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(million MT)

Coal Sales VolumeCoal Sales Volume

(US$/MT)

Average Selling PriceAverage Selling Price(*)(*)

RevenueRevenue(*)(*)

(US$ m)

EBITDAEBITDA(2)(2)

(US$ m)

(1) Revenue and Average Coal Selling Price include coal and non-coal sales(2) US$ is a convenience translation using the average quarterly exchange rate

*

3

Coal Production

(million MT)

Coal Production VolumeCoal Production Volume

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Budget Actual Gunungbayan Pratamacoal (GBP) Blk II & I 1.1 1.1Teguh Sinarabadi (TSA) / Firman Ketaun Perkasa (FKP)¹ 0.3 0.4Perkasa Inakakerta (PIK) 0.4 0.5Fajar, Tabang, Brian (FTB)² 0.5 0.2Wahana Baratama Mining (WBM) 0.4 0.9Total 2.6 3.1

3Q 09Coal Production by Mine Site (in million MT)

3Q09 coal production was 3.1 million MT which exceeded 3Q09 Budg3Q09 coal production was 3.1 million MT which exceeded 3Q09 Budget of 2.6 million MT by 19% et of 2.6 million MT by 19%

(1) TSA & FKP are two separate concessions but for reporting purposes, the production volumes of these two mines are disclosed together.

(2) Fajar, Tabang, and Brian are three separate independent KP’s but for reporting purposes, these three mines are disclosed together.

3Q09 coal production volume was 3.1 million MT which remained consistent with 2Q09 coal production of 3.1 million MT

YTD coal production volume was 8.6 million MT and exceeded Budget of 6.7 million MT by 28%

Increase in coal production was generated mostly from WBM, PIK, and TSA/FKP

FTB experienced a shortfall in coal production due to barging restrictions causing stockpiles to be full; Belayan River was low as a result of the dry season

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Overburden Removal

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(million BCM)

Overburden Removal VolumeOverburden Removal Volume

3Q09 overburden removal was 43.5 million BCM which exceeded Budg3Q09 overburden removal was 43.5 million BCM which exceeded Budget of 28.7 million BCM by 52%et of 28.7 million BCM by 52%

(1) TSA & FKP are two separate concessions but for reporting purposes, the production volumes of these two mines are disclosed together.

(2) Fajar, Tabang, and Brian are three separate independent KP’s but for reporting purposes, these three mines are disclosed together.

Budget ActualGunungbayan Pratamacoal (GBP) Blk II & I 16.3 19.8Teguh Sinarabadi (TSA) / Firman Ketaun Perkasa (FKP)¹ 3.5 6.7Perkasa Inakakerta (PIK) 2.7 3.5Fajar, Tabang, Brian (FTB)² 0.5 0.2Wahana Baratama Mining (WBM) 5.6 13.3Total 28.7 43.5

Overburden Removal (in million BCM)3Q 09

3Q09 Overburden Removal was 43.5 million BCM which remained consistent with 2Q09 overburden removal of 42.2 million BCM

YTD Overburden Removal was 117.7 million BCM and exceeded Budget of 79.7 million BCM by 48%

Overburden Removal in WBM, PIK and TSA/FKP exceeded Budget due to faster ramp up in operation, better than anticipated efficiency, and longer than normal dry season

FTB overburden removal was less than Budget as substantial volume of coal were already exposed and most of the stockpiles were full due to the restriction in barging

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Weighted Average Strip Ratio

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Weighted Average Strip RatioWeighted Average Strip Ratio

3Q09 weighted average strip ratio of 13.8:1 exceeded Budget of 13Q09 weighted average strip ratio of 13.8:1 exceeded Budget of 10.8 : 10.8 : 1

(1) TSA & FKP are two separate concessions but for reporting purposes, the production volumes of these two mines are disclosed together.

(2) Fajar, Tabang, and Brian are three separate independent KP’s but for reporting purposes, these three mines are disclosed together.

Budget ActualGunungbayan Pratamacoal (GBP) Blk II & I 15.0 17.2Teguh Sinarabadi (TSA) / Firman Ketaun Perkasa (FKP)¹ 11.2 15.0Perkasa Inakakerta (PIK) 7.0 6.5Fajar, Tabang, Brian (FTB)² 1.0 1.4Wahana Baratama Mining (WBM) 15.0 15.6Total 10.8 13.8

3Q 09 Weighted AveWeighted Average Strip Ratio ( :1)

3Q09 weighted average strip ratio was 13.8:1 which remained consistent with 2Q09 weighted average strip ratio of 13.7:1

YTD weighted average strip ratio was 13.7:1 which was higher than the YTD Budget weighted average strip ratio of 11.9:1

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Average Cash Costs

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(1) Average Cash Costs include Royalty, Barging, SGA(2) US$ is a convenience translation using the average yearly &

quarterly exchange rate(3) E represents Budgeted Figure

(US

$ /

MT

)

Average Cash Costs per MTAverage Cash Costs per MT(*)(*)

3Q09 average cash costs of US$56.1 / MT was slightly higher than3Q09 average cash costs of US$56.1 / MT was slightly higher than the range of the Budgeted the range of the Budgeted cash costs of US$50cash costs of US$50--55 / MT55 / MT

3Q 2008 3Q 2009

3Q09 Average cash costs was US$56.1/MT which was slightly higher than 2Q09 average cash costs of US$54.5/MT

YTD Cash Costs was US$54.82/MT which remained in the upper range of the Budget of US$50-55/MT

50-55

*

(ID

R /

lit

er)

Pertamina Diesel Oil PricePertamina Diesel Oil Price(3)(3)

Composition of Cash Costs YTD per MTComposition of Cash Costs YTD per MT

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Coal Sales (by volume)

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3Q09 coal sales volume was 3.2 million MT which exceeded 3Q09 B3Q09 coal sales volume was 3.2 million MT which exceeded 3Q09 Budget of 2.8 million MT by 10%udget of 2.8 million MT by 10%

3Q09 coal sales volume was 3.2 million Mt which remained consistent with 2Q09 coal sales of 3.2 million MT

YTD coal sales volume was 8.8 million MT which exceeded Budget of 7.0 million MT by 26%

3Q09 Top 5 customers (by sales volume) are : Vitol, Taipower, Coal & Oil, Enel, and Adani

(million MT)

Coal Sales VolumeCoal Sales Volume

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Geographic Distribution YTD (by volume)

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As of 3Q09, demand by volume increased from India, Taiwan and Japan

India remained Bayan’s biggest customer in terms of sales volume

India, Italy, Taiwan, Japan, and Malaysia comprised 82.3% of BayIndia, Italy, Taiwan, Japan, and Malaysia comprised 82.3% of Bayanan’’s 2009 coal sales (1Qs 2009 coal sales (1Q--3Q09)3Q09)

As of 3Q08 Coal Sales5.0 million MT

As of 3Q09 Coal Sales8.8 million MT

ItalyJapan

Taiwan

Korea

Others

MalaysiaIndia

Italy

Japan

Taiwan

Korea

Others

Malaysia

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Committed & Contracted Sales (as of September 2009)

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FY09 sales volume 100% contracted: 90% tonnage with fixed priceFY09 sales volume 100% contracted: 90% tonnage with fixed price approximately at approximately at US$59.4/MT; and 10% tonnage with floating price linked to API/NeUS$59.4/MT; and 10% tonnage with floating price linked to API/Newcastlewcastle

FY09 average fixed price was approximately US$59.4/MT; floating price was linked to API / Newcastle

Total committed and contracted sales have an average of 5895 CV GAR; fixed price volumes have an average of 5855 CV GAR and floating price volumes have an average of 6272 CV GAR

Type of Sales Contract

Long-term fixed volume with annual price negotiations

Long-term fixed volume with index linked pricing

Yearly negotiated on volumes and price

Spot volumes and pricing

FY 09 Committed & Contracted Sales 12.5 million MT

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Average Selling Price (ASP)

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(US

$ /

MT

)

Average Selling Price Average Selling Price (*)(*)

Diversified Products Diversified Products (1)(1) –– YTD 09YTD 09

3Q09 ASP of US$64.0 / MT was within the range of the Budgeted AS3Q09 ASP of US$64.0 / MT was within the range of the Budgeted ASP of US$60P of US$60--65/MT65/MT

3Q09 Average Selling Price went up to US$64.0/MT compared to 2Q09 ASP of US$60.3/MT

YTD Average Selling Price was US$61.68/MT which remained in the lower range of the Budget of US$60-65/MT

60-65

(1) ASP includes coal and non-coal sales(2) US$ is a convenience translation using the average yearly & quarterly exchange rate(3) E represents Budgeted Figure

*

(1) Coal TypeHigh CV

Bituminous BituminousSub

BituminousLow Rank

CV

Energy kcal/kg GAR 6,301–7,200 5,801–6,300 4,200–5,800 < 4,200

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Financial Highlights 3Q09

3Q09 revenue growth was consistent with 2Q09; profitability was 3Q09 revenue growth was consistent with 2Q09; profitability was slightly better due to marginally slightly better due to marginally higher ASP higher ASP

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3Q09 revenue generated was consistent with 2Q09; marginal increase in 3Q ASP was offset by the slight weakening of the US dollar in 3Q09

3Q09 profitability went up due to a slightly higher ASP

3Q09 vs 3Q08 posted strong top line revenue growth as a result of increased sales volume

3Q09 Gross Profit was higher than last year given improved margins in 2009

2Q09 3Q09Revenue 2,036,816 2,063,169 1.3%Gross Profit 303,353 365,779 20.6%EBITDA 196,080 252,578 28.8%

Total Assets 6,717,108 6,718,609 0.0%Total Equity 2,405,139 2,457,077 2.2%

3Q08 3Q09Revenue 3,417,397 5,848,723 71.1%Gross Profit 646,307 986,995 52.7%EBITDA 351,897 650,654 84.9%

Total Assets 5,940,459 6,718,609 13.1%Total Equity 1,813,477 2,457,077 35.5%

QuarterlyVariance(in million IDR)

(in million IDR)YTD

Variance

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Budget vs Actual – 3Q09 (YTD)

Budget ActualRevenue 4,628,889 5,848,723 26.4%Gross Profit 1,402,989 986,995 (29.7%)Operating Profit 794,568 383,928 (51.7%)EBITDA 1,063,213 650,654 (38.8%)Net Profit after Tax 354,017 178,201 (49.7%)

(in million IDR)3Q09 (YTD)

Variance

Note: Assumption in the Budget : US$1 = IDR10,000

Strong top line revenue growth as a result of increased volumes Strong top line revenue growth as a result of increased volumes but profitability lower than but profitability lower than Budget as a result of lower than Budgeted ASPBudget as a result of lower than Budgeted ASP

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Positive top line revenue growth, principally a result of increased volumes; however this was partially offset with lower ASP as benchmark lower than Budgeted

Profitability lower than Budget due to lower than Budgeted ASP

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Capital and Deferred Expenditure

Total Capital and Deferred Expenditure for 2009: US$88.5m

54%21%

13%

YTD Capital and Deferred Expenditure spent was US$40.8m or 46.1%YTD Capital and Deferred Expenditure spent was US$40.8m or 46.1% of the Budgeted US$88.5m of the Budgeted US$88.5m

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12%

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Cash Position IDR1,104b (US$114m)

Liquidity Position (as at 30 September 2009)

Outstanding Debt (US$216m)

Syndicated Facility

Vitol & LeasingFacility

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Debt Facilities (as at 30 September 2009)

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Loan Maximum Facility

Tenor Current Outstanding Loan

Syndicated Loan (April 2008)

- Amortizing Term Loan US$ 150 million 5 Years US$ 126.0 million

- Revolving Capex Facility US$ 100 million 3 Years US$ 50.0 million

- Working Capital Facility US$ 50 million 5 Years

Vitol & Leasing Facility US$ 50 million 3 Years US$ 40.0 million

ANZ US$ 30 million Annual Revolving

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Debt Repayment Profile

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Low principal repayments in 2009 and 2010Low principal repayments in 2009 and 2010

Low principal repayments in 2009 and 2010

RCF can be extended in 2011 to 2013 with Lenders’ approval

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Appendix

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PT Gunungbayan Pratamcoal GBP

PT Perkasa Inakakerta PIK

PT Wahana Baratama Mining WBM

PT Teguh Sinarabadi / PT Firman Ketaun Perkasa TSA / FKP

PT Fajar Sakti Prima / PT Bara Tabang / PT Brian Anjat Sentosa FTB

PT Leighton Contractors Indonesia Leighton

PT Thiess Contractor Indonesia Thiess

Average Selling Price ASP

Gross as Received GAR

Estimate / Budget Figure E

Forecast F

Bank Cubic Metre BCM

Metric Tonne MT

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Disclaimer

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This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan Resources Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light of new information or future events.

These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trends in demand and prices for coal generally and for our products in particular, the success of our mining activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for planned expansion efforts, as well as other factors. We caution you that these and a number of other known and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ materially from those expressed in any forward-looking statement.

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Thank You

For more information, please contact :

Investor Relations

Jocelle ConcioInvestor Relations investor.relations@bayan.com.sg

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