A new and distinct Agapanthus cultivar named ‘PMB012’ is disclosed, characterized by bi-color blue and white flowers. Flowers can be standard 6 tepaled, or having up to 12 tepals. Flowering begins early to mid Summer. Plants are distinctively compact with upright foliage and a mature height near 50 cm. The new variety is an Agapanthus, typically produced as an outdoor ornamental plant.