Jakarta, 29 May 2019 — PT Barito Pacific Tbk. (“Barito Pacific”, “BRPT” or the “Company”) today released its consolidated financial statements for the three month periods ended 31 March 2019, recording a net revenue of US$679 million, EBITDA of US$161 million and net profit after tax of US$36 million.

Agus Pangestu, the Company’s President Director states that:

“1Q 2019 was a challenging period given the global backdrop of intensifying trade war between the US and China. Our petrochemical business was exposed to compressing spreads albeit somewhat buffeted by lower naphtha prices, while Star Energy continued to provide a moderating influence on our consolidated earnings, which helped the Group somewhat mitigate the challenging macro backdrop.

On operational side, TPIA is on track for a start-up of its new 400KTA Polyethylene later this year while the debottlenecking of Polypropylene plant is also underway in accordance with the schedule. The completion of these projects will further enhance the economies of scale and to fill shortage of Indonesian market.

Overall, we continue to generate healthy EBITDA margin of 24% and balance sheet position with net debt/EBITDA at 2.4x at consolidated level. We remain focus on delivering capacity growth and maintain high plant utilization. Contribution from geothermal business will continue to support our overall financial performance going forward.”

3M - 2019 Highlights:

• 3M-2019 Net Revenues decreased by 17.9% from US$827 million in 3M-2018 to US$679 million mainly due to lower average sales prices for Olefins, Polyolefins and Styrene Monomer in line with the market movements from our petrochemical business.
• Cost of Revenues decreased by 11.5% from US$582 million in 3M-2018 to US$515 million in 3M-2019 largely due to lower naphtha cost which fell to an average of US$533/MT from US$603/MT in 3M2018 related to our petrochemical business.
• EBITDA decreased by 31.8% from US$236 million in 3M-2018, as restated, to US$161 million in 3M[1]2019 primarily due to:

• Lower EBITDA from petrochemical business mainly due to the moderating petrochemical cycle.
• Slight decline EBITDA contribution from geothermal operations by 1.3%.

• Net Profit After Tax amounted to US$36 million compare to US$89 million in 3M-2018 mainly as a result of lower Gross Profit.

(***)

About Barito Pacific

Barito Pacific (IDX: BRPT) is an integrated energy company based in Indonesia with multiple power and industrial assets. Through Star Energy, BRPT operates the largest geothermal company in Indonesia, which is also the third largest geothermal company in the world. Along with Indonesia Power, a wholly-owned subsidiary of PLN, BRPT is developing Java 9 & 10, a 2 x 1,000MW ultra super-critical class power plant with enhanced efficiencies and environmental performances. BRPT also owns a controlling share and consolidates PT Chandra Asri Petrochemical Tbk (IDX: TPIA), Indonesia’s largest and only integrated petrochemical company.

For more information, please contact:

Corporate Secretary | Investor Relations

PT Barito Pacific Tbk.

Phone: (62-21) 530 6711

Fax: (62-21) 530 6680

Email: corpsec@barito.co.id

Investor.relations@barito.co.id

www.barito-pacific.com

For the complete financial information and highlights, please download the PDF format.