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Triwulan

United Tractors Recorded Net Income of Rp 21.0 Trillion

On 27 February 2023, United Tractors (UT/the Company) released its consolidated financial statements for the full year
2022. As of 31 December 2022, the Company recorded net revenue of Rp123.6 trillion, increased by 56% compared to
Rp79.5 trillion in 2021. In line with the increase in net revenue, the Company’s net profit was up by 104% to Rp21.0
trillion, from Rp10.3 trillion.

Heavy equipment sales under Construction Machinery segment recorded an increase in Komatsu sales volume by 86% to
5,753 units from 3,088 units. Sales of spare parts and maintenance services increased by 33% to Rp10.4 trillion. Overall,
Construction Machinery segment recorded revenue of Rp36.5 trillion or increased by 60% year on year. Mining
Contracting segment recorded 43% higher net revenue at Rp47.4 trillion, with 116 million tons of coal production and 954
million bcm of overburden removal. Coal Mining segment recorded an increased in coal sales volume at 9.9 million tons,
with revenue increased by 127% to Rp31.1 trillion supported by the increase in average selling price. Gold Mining segment
recorded revenue of Rp7.7 trillion, decreased by 8%, with gold sales volume achieved 286 thousand ounces. Construction
Industry recorded revenue of Rp949 billion, down by 35%. Energy segment recorded revenue of Rp34.0 billion.

Mining Contracting contributed 38% to the Company’s consolidated net revenue, followed by 30% from Construction
Machinery, 25% from Coal Mining, 6% from Gold Mining, 1% from Construction Industry, and less than 1% from Energy.

On 3 December 2022, the Company through its subsidiary, PT Danusa Tambang Nusantara signed a Conditional Shares
Sale and Purchase Agreement (CSPA) to acquire 90% of the shares of PT Stargate Pacific Resources (SPR) and 90% of the
shares of PT Stargate Mineral Asia (SMA). SPR is a company that holds mining business license for nickel production
operation in North Konawe, Southeast Sulawesi, which has low and high grade nickel reserves; while SMA is a company
that holds license to develop and operate nickel smelter processing. This corporate action was part of the Company’s
strategy to diversify and expand the business portfolio into nickel commodities.

On 12 January 2023, the Company submitted a disclosure information regarding the result of the buyback of shares issued
by the Company. During the buyback period (from 12 July 2022 until 11 January 2023), the Company has repurchased
98,326,000 shares or equal to Rp3.2 trillion.

A Final Dividend of Rp6,185 per share (2021: Rp905 per share) will be proposed at the Annual General Meeting of
Shareholders of the Company to be held in April 2023. The proposed Final Dividend, together with the Interim Dividend of
Rp818 per share (2021: Rp335 per share) distributed in October 2022, will bring the total dividend for 2022 to Rp7,003 per
share (2021: Rp1,240 per share).

The enhanced Final Dividend is proposed on the basis of strong profitability supported by unprecedented high coal prices
and solid operational performance. The Company remains confident in its fundamental operating strength and strong
balance sheet, which enables it to continue deploying capital in Indonesia and to accelerate its transition strategy towards
increasing its non-coal revenue, as well as return some excess capital to shareholders.