Jakarta, 30 March 2020 — PT Barito Pacific Tbk. (“Barito Pacific”, “BRPT” or the “Company”) today released its audited consolidated financial statements for the year ended 31 December 2019. BRPT recorded consolidated net revenue of US$2,402 million, EBITDA of US$595 million and net profit after tax of US$137 million.

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

“Our 2019 financial results reflect a challenging macro-economic environment and reduced volumes from the impact of planned shutdown for Turn Around Maintenance (TAM) at TPIA in August and September 2019.

TPIA continue to focus on strong operational excellence and commercial delivery. We are pleased with TPIA’s successful completion and start-up of its new 400KTA Polyethylene plant and 110KTA Polypropylene debottlenecking, which expanded their total production capacity by 17% to 4,061KTA. Meanwhile, our geothermal business continues to provide stability at the EBITDA level and an increasing trend of net profit due to declining trend of interest expense overtime.

On a consolidated basis, we generate healthy EBITDA margin of 25% and maintain a robust balance sheet position with net debt/Ebitda of 3.0x. Our next major expansion - the second petrochemical complex is also continue to progress as per schedule.”

FY -2019 Highlights:

• FY-2019 Net Revenues decreased by 21.9% from US$3,076 million in FY-2018 to US$2,402 million mainly due to lower petrochemical product average sales prices particularly for Olefins and lower volume due to the planned Turn-Around Maintenance (TAM).
• Cost of Revenues decreased by 19.7% from US$2,270 million in FY-2018 to US$1,823 million in FY-2019 largely attributed to lower costs and consumption of feedstock on our petrochemical business, primarily naphtha which fell to an average of US$542/MT from US$650/MT in FY-2018.
• EBITDA decreased by 26.8% from US$816 million in FY-2018 to US$595 million in FY[1]2019 primarily due to lower EBITDA from petrochemical business mainly due to the softening global petrochemical spread.
• Net Profit After Tax amounted to US$137 million compared to US$242 million in FY-2018 mainly as a result of lower Gross Profit.

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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.