Jakarta, 29 March 2021 — PT Barito Pacific Tbk. (“Barito Pacific”, “BRPT” or the “Company”) today released its audited consolidated financial statements for the year ended 31 December 2020. The Company recorded consolidated net revenue of US$2,334 million, EBITDA of US$598 million and net profit after tax of US$141 million.

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

“Despite severe market dislocations driven by the Covid-19 pandemic, our FY-2020 financial results remain solid supported by a strong rebound in the petrochemical industry as demand recovered during the second half of 2020.

We are pleased to witness our petrochemical subsidiary, Chandra Asri (TPIA), reporting strong financial performance as it achieved an EBITDA of US$121 million in Q4-2020 alone that nearly doubled its 9M[1]2020 EBITDA of US$65 million. This recovery was driven by an uptick in industrial activity especially in China and NEA which in turn strengthened demand for polymers. We also successfully delivered our MTBE and Butene-1 plants, the first one in Indonesia, both of which were completed in September 2020, within budget and on time despite numerous challenges due to the COVID-19 pandemic. The delivery of these plants brings TPIA total production capacity to 4.2 MTA and marks the successful execution and completion of TPIA’s 2015-2020 Integration Master Plan.

Given our focus on investing in technologies to help reduce carbon emissions and increase sustainable energy, we are very delighted to report the successful completion of Chandra Asri’s US$14 million Enclosed Ground Flare that will help minimize potential social and environmental impacts from our petrochemical operations. In addition, TPIA continued its partnership with Total Solar DG to build more solar panels or photovoltaic (PV) installations in TPIA’s complex. During the year we also announced new partnerships with Ecolab and BYD for green chemistry and electrical forklifts, respectively.

Meanwhile, our geothermal business, Star Energy Geothermal (Star) provided stability at the Revenue and EBITDA levels. Star continues to admirably navigate the Covid-19 related shutdowns with all three of our operating assets, Wayang Windu, Salak and Darajat maintaining 90%+ capacity rates.

Star Energy Geothermal also marked another significant milestone as it successfully issued a US$1.11 billion bond, the first green bond with investment grade issued from Indonesia in 2020. The success of this green bond further demonstrates investor appetite for green investments.

Barito Pacific remains dedicated and focused on initiatives to continuously protect our staff, stakeholders and communities and prevent any outbreaks of Covid-19 in our facilities. At both our operating sites and head office, we remain vigilant and proactive in promoting preventive measures and enforce strict standard operating procedures. These initiatives include a dedicated Covid-19 task force with measures like physical distancing, detailed internal protocol and working from home arrangements for staff.”

• Despite a challenging macro environment due to the pandemic in 2020, Barito Pacific recorded an increase in Consolidated Net Profit of US$141 million for FY-2020 compared to US$137 million for FY[1]2019.
• Solid financial turnaround in 2 nd half of 2020 mainly due to the continuous improvement in the petrochemical sector itsaw TPIA nearly double its Q4-2020 EBITDA to US$121 million vs US$65 million in 9M-2020.
• Successful deliveries of several key projects amidst Covid-19 pandemic:

• Completion of MTBE and Butene-1 plants, the first one in Indonesia, which marks the completion of TPIA’s Integration Master Plan and increases TPIA total production capacity to 4.2MTA.
• Completion of the Enclosed Ground Flare as part of our commitment to reduce our carbon footprint and reduce environmental and social impacts from operations.
• Issuance of US$1.11billion investment grade green bond by Star Energy Geothermal that received strong market demand with 3.5x oversubscribed.

• Barito Pacific is dedicated to invest in technologies to help reduce carbon emissions, increase sustainable energy and promoting circular economy in Indonesia.

(***)

About Barito Pacific

PT Barito Pacific Tbk (IDX: BRPT) is an integrated energy company based in Indonesia with multiple power and industrial assets. Through Star Energy Geothermal, Barito Pacific operates the largest geothermal company in Indonesia and the third largest geothermal company in the world.

In collaboration with Indonesia Power, a wholly-owned subsidiary of PLN, Barito Pacific is developing Java 9 & 10, a 2 x 1,000 MW ultra super-critical class power plant that will be installed with unprecedented emission reduction technologies. This power plant will help Indonesia modernize our aging power generating capabilities while reducing cost by lowering consumption of fuel by up to 20% per kwh basis; hence reducing carbon emission by the pro-rated amount.

Barito Pacific 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 or Investor.relations@barito.co.id

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