Q4 2012 Interim Management Statement

Bumi plc ("Bumi" or the "Company")

12 February 2013

For Immediate Release

Interim Management Statement

 Production Report for Q4 2012

Bumi today issues its Production Report for the Fourth Quarter to 31 December 2012. Its Interim Management Statement covering the period 1 October 2012 to date is in accordance with reporting requirements of the EU Transparency Directive and an update of key actions management are undertaking as they continue to drive shareholder value.

Highlights

·; For PT Berau, fourth quarter coal mined was 5.9 million tonnes and coal sales were 6.5 million tonnes, up 15% and 30% respectively on the same period last year

·; Full year production target for coal mined of 21 million tonnes was achieved

·; Production cost of sales were $36.1/t in the quarter, down 19% on the same period last year, helped by reducing stripping ratio from 9.4bcm/t to 7.6bcm/t, also down 19%

·; Lower realised thermal coal prices for PT Berau, down 31% on the same period last year

Board's strategy

The Board's vision for Bumi is an Indonesian resources company with an initial focus on Berau. The strategy in relation to Berau can be summarised into three broad areas:

·; driving operational and financial efficiencies;

·; further strengthening internal financial controls and corporate governance standards; and

·; growing the business and driving shareholder value.

Key actions being undertaken to implement the above strategy include reviews of operational expenditure, capex and borrowing costs.

Nick von Schirnding, CEO of Bumi plc said "I'm very pleased with our performance for the fourth quarter. Through revisions in the mine plan and a focus on costs we achieved an impressive reduction in strip ratios and costs as well as a marked increase in production and sales against both the previous quarter and the same period last year. While thermal coal prices remained weak in the fourth quarter our reduction in costs helped offset the impact of the lower coal price.

We expect to continue this strong operational performance in 2013 as we implement our vision and strategy and will continue to relentlessly cut costs across the Group that will deliver value to shareholders. For example, during January 2013 alone, we have identified initiatives that will aim to reduce fuel usage and further initiatives to change the long term cost structure of the business are under way.

Our continued strengthening of the management at Berau will ensure that our vision and strategy will be delivered".

Note: all production numbers are stated on a 100 per cent basis

Fourth Quarter Production

Berau mined 5.9 million tonnes of coal in the fourth quarter, 7% higher than in Q3 2012 and 15% higher than the same period last year. Sales were up 30% in the fourth quarter at 6.5 million tonnes against the same period last year. Berau achieved its target for coal mined of 21 million tonnes for 2012. Berau's costs in the fourth quarter were helped by a lower stripping ratio (7.6 bcm/t, compared with10.3 bcm/t for the previous nine months) as a result of a change to the mine plan following an internal management review. The fourth quarter average selling price per tonne was $61.8, which is 31% lower than the same period in 2011.

1 Bank cubic metres (bcm) of overburden removed per tonne of coal mined

Strategy in action

The Group has taken significant action in implementing its strategy and provides detailed examples of this below.

Financial and operational initiatives

Following Nick von Schirnding's appointment, Berau Coal has been reviewing the production cost base to identify ways to improve efficiency that have an immediate, sustainable and positive impact on the bottom line. For example, around 25% of production cost of sales is fuel and management expects to reduce fuel usage by up to 4% through the following actions which were identified in January 2013:-

·; A review ascertained that it was common practice for truck drivers to keep engines running whilst stationary for a period of time (for example during lunch breaks). Management introduced a device that identifies whether a truck is idling unnecessarily so that action can be immediately taken by supervisors;

·; A review showed that dump truck drivers revved engines unnecessarily when unloading material. A device is now attached to dump trucks that prevents engine revving whilst material is being unloaded; and

·; Management is testing three different fuel additives that increase octane and settle impurities in diesel which is expected to lower fuel usage.

Berau Coal management is also in the process of securing better terms with its mining contractors, which accounted for around 50% of production cost of sales in 2012. This includes a combination of reduced mining rates (up to 6% reduction), deferral of contracted price increases and improved terms from contractors, whilst maintaining productions levels, quality and safety standards. In particular, a legacy contract was renegotiated and signed in January 2013 which has deferred price increases and set clearer targets for performance and stronger penalties for non-performance over a wider range of KPIs. The renegotiation of this agreement forms part of Berau Coal's focus of securing greater alignment between the contractor and Berau Coal.

Longer term initiatives that are being undertaken and are aimed at changing the cost structure of the mining business of Berau Coal include:-

·; the electrification of the mine through the construction of a power plant using its own low CV coal, leading to fuel savings for equipment and dump trucks. This may include electrification of the 28km route between Binungan and the Suaran port;

·; introduction of an in pit crusher and conveyor (IPCC) system which can reduce overburden truck haulage distances by up to 2km with a consequent reduction in fuel usage and lost time due to rain;

·; replacement of aged equipment with newer, more reliable, more efficient equipment; and

·; the reduction of double handling of coal by removing bottlenecks through investments in new equipment and infrastructure.

Overhead cost initiatives

There is a strong focus on reducing overhead costs, both in London and in Indonesia to be appropriate for the business going forward. We are currently evaluating options for relocating to more appropriate premises in London and Jakarta.

Borrowing cost initiatives

Borrowing costs are under review to ensure the most appropriate capital structure is in place, including cash being utilised in the most efficient way.

Capital expenditure initiatives

As part of the focus on financial controls, all items of capex are under review to ensure that appropriate returns can be achieved whilst ensuring that organic growth is maximised. In particular Berau Coal is evaluating the best mode of transport of coal from the Parapatan site (Binungan Blocks 1-4). Various options that are under consideration include the building of further bridge and roads, use of land craft transport (LCT), use of self-unloading vessels (SUVs) and the construction of a new conveyor system.

Growing the business

Berau has demonstrated the capability to grow production from 17.4 million tonnes in 2010 to 21 million tonnes in 2012, a compound annual growth rate (CAGR) of almost 10%. Going forward Berau is targeting 2013 production of 23 million tonnes and a medium term target of 30 million tonnes per year. We plan to review the feasibility of achieving up to 40 million tonnes of production by further review of the mine plan and in particular the investments in infrastructure and equipment which would be required. This plan will be developed throughout 2013. With a high quality Indonesian base and a capability to grow assets, Bumi plc is in an excellent position to identify value-additive inorganic growth opportunities that will drive shareholder value in the Asian seaborne thermal coal space.

The Board believes that the above areas of focus will drive shareholder value in the near and medium term and put Bumi plc on track to deliver a growing and sustainable business.

The recent announcement that Eko Budianto is to be appointed President Director (CEO) of Berau reflects the Board's focus on delivering shareholder value. Eko has significant experience of driving operational and financial performance at Berau Coal. As the Berau Coal operations director he was responsible for all aspects of the mine including exploration, mine planning, mining operations and health and safety. He was instrumental in introducing international mining best practice throughout the organisation following the acquisition of Berau by Bumi including:-

·; the improvement of annual Life of Mine planning which allowed the business to strategically determine profitable growth paths;

·; improving standards of health and safety reducing fatalities from four in 2011 to nil in 2012 ;

·; redesigning the operations organisation structure into four divisions: comprising mine planning, production, health and safety and contractor management, leading to greater accountability and responsibility;

·; improving contractor performance management through renegotiating terms, implementation of KPIs and faster escalation of mining issues; and

·; reviewing the mine plan to reduce costs through a reduction in strip ratios and hauling distances.

The Board is confident that, Berau will continue to deliver its growth and strategic objectives.

For enquiries, please contact:

Bumi plc: +44 (0) 20 7201 7506

Jayesh Pankhania

Finsbury: +44 (0) 20 7251 3801

Ed Simpkins

Production Report for the Fourth Quarter ended 31 December 2012 (unaudited)

Notes:

All figures are stated on a 100 per cent basis.

Bumi has an 85 per cent stake in PT Berau, which in turns owns a 90 per cent interest in Berau Coal.

Bumi has a 29 per cent stake in PT Bumi, which in turn owns a 65 per cent stake in KPC and a 70 per cent stake in Arutmin.

The weighted average realised price per tonne of coal sold is calculated by dividing the consolidated sales (on a Free On Board (FOB) basis) for the coal products by the sales volumes for the coal products for the periods presented. These weighted average realised prices fluctuate based upon changes in the product mix of the sales of the coal products.

Certain figures in the table above have been rounded.

N/A - not available

Forward-looking statement

This announcement includes statements that are, or may be deemed to be, 'forward-looking statements'. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may', 'will', or 'should' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include matters that are not historical facts or are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Company operates. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed upon them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and generally beyond the Company's control. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. The Company cautions you that forward-looking statements are not guarantees of future performance and that if risks and uncertainties materialise, or if the assumptions underlying any of these statements prove incorrect, the Company's actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may materially differ from those made in, or suggested by, the forward-looking statements contained in this announcement. In addition, even if the Company's results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in future periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations, changes in business strategy, political and economic uncertainty. Subject to the requirements of the Prospectus Rules and the Listing Rules or any applicable law or regulation, the Company expressly disclaims any obligation or undertaking publicly to review or confirm analysts' expectations or estimates or to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any changes in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Disclosure and Transparency Rules

This Interim Management Statement ('IMS') and Production Report is prepared to meet the requirements of the Disclosure and Transparency Rules of the United Kingdom's Financial Services Authority ('FSA') to provide additional information to shareholders. The IMS and Production Report should not be relied on for any other purpose or by any other party.