PT. Bayan Resources Tbk. - ability to pay award by SICC, page-4

I assume that most White holders are not aware that Kangaroo entered into a strategic agreement whith Bayan regarding to the development of important key infrastructure in 2015 prior the takeover. That agreement carries real value and must be still in place due to the freeze order clauses. Under the 2015 agreement Bayan will use KRL assets to build and operate a new haul road andupgrade, expand and operate the Senyiur Port for use by Bayan and KRL . KRL’s subsidiaries will have access to the infrastructure at 30% of their available capacity. Since 2015 Bayan invested a lot of money in this infrastructure and KRL is on the cusp to be an operating coal mining company with maiden cash flows. Hence, even a minor stake in KRL could carry real value for White holders.