Golden Eagle Energy Tbk.

Brief of Company Background

Early Business Activities in Industry of Restaurants and EntertainmentPT Golden Eagle Energy Tbk (SMMT or Company) established in 1980 by the name PT The Green Pub with main business activity restaurant and entertainment.On May 10th, 1996, the Company changed its name to PT Setiamandiri Mitratama, the Company was initially listed in Surabaya Stock Exchange after its initial public offering of 5,000,000 shares with offering price of Rp500.- per share. The Company has done stock split activity 1:4 in 2004.Considering the potential business opportunities in the national restaurant and entertainment industry at that time, the Company decided to change its business name to PT Eatertainment International Tbk. The Company mainly rely on its restaurant businesses, widely known as Amigos, the Mexican restaurants, and Papa Rons, the fast food pizza outlets, as its main brand, either independently managed or as franchise. Other than that, the Company also has Putt-Putt South East Asia Limited (Putt-Putt) as its subsidiary which lisenced in mini golf.Transformation of Business Activities to Mining IndustryThe high intensity of competition level in the restaurant and entertainment business forced the Company to review each strategies and business development in order to provide a more attractive performance growth for investors and shareholders. Upon considering various potential business prospects to be explored, the Company concluded that the mining business especially coal is one of the most promising and suitable business.Within the last ten years, the national coal industry has improved significantly, both in terms of productivity and selling price. The coal business are also predicted to be profitable opportunities considering coal is one of primary sources of non-renewable energy.In accordance with the strategy that has been set, the Company conduct the business transformation from the two subsidiaries, namely PT Internasional Prima Coal (IPC) and PT Triaryani (TRI) which will be the operational companies for SMMT. The Company has also completed the divestment of the restaurant and entertainment business and changed the Company’s identity and logo to better represent its business activities in the mining industry. restaurant and en

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Management