PT ASTRA INTERNATIONAL TBK First Half of 2017 - Results Presentation

The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general background information about Astra Group business performances current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Astra businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements; past performance is not a reliable indication of future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither Astra and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise.

Disclaimer

1

2

6 months ended 30th June

2017 2016 Change

Net revenue (Rp bn) 98,031 88,208 11%

Net income (Rp bn)* 9,357 7,116 31%

Net earnings per share (Rp) 231 176 31%

As at 30th June 2017

As at 31st December 2016

Change

Shareholders’ funds (Rp bn)** 116,627 111,951 4%

Net asset value per share (Rp)** 2,881 2,765 4%

* Net income is profit attributable to owners of the parent, i.e. Astra International shareholders. ** Shareholders' funds and net asset value per share are based on equity attributable to owners of the parent. The financial results for the six months ended 30th June 2017 and 2016 as well as the financial position as at 30th June 2017 have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. The financial position as at 31st December 2016 has been prepared in accordance with Indonesian Financial Accounting Standards and audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.

Positive contribution

from Permata Bank

Highlights

Net earnings per share

Rp231

31% 56% 74%

Auto Market Share

• Strong recovery in coal prices benefited heavy equipment and

mining contracting volumes • Agribusiness improved with higher

crude palm oil prices and production

Business Structure

Automobile • Toyota • Daihatsu • Isuzu • BMW • Peugeot • UD Trucks

Other

Motorcycle •Honda

Component •Astra

Otoparts

Others •AstraWorld

Automobile •Astra Credit

Companies •Toyota Astra

Finance

Motorcycle • Federal

International Finance

Heavy Equipment • SAN Finance • Komatsu Astra

Finance

Banking • Permata Bank

Insurance • Asuransi Astra

Buana • Astralife

Construction Machinery • United Tractors • Traktor Nusantara

Mining Contracting • Pamapersada Nusantara

Mining • Tuah Turangga Agung

Construction Industry • Acset Indonusa

Palm Oil Plantation • Astra Agro Lestari Refineries • Tanjung Sarana Lestari • Kreasijaya Adhikarya • Tanjung Bina Lestari Commodity Trading • Astra-KLK Pte.Ltd

Cattle in Palm Oil Plantation • Agro Menara Rahmat

Toll Road • MMS • MHI • MTN • TMJ • TBS • LMS

Logistics • SERA / TRAC • Mobil88 • SELOG • TFSI

Sea Port • Eastkal Water Supply • Palyja

Document Solution •Astra Graphia

IT Solution •Astra Graphia

Information Technology

Office Services •Astragraphia Xprins

Indonesia

• Menara Astra • Brahmayasa Bahtera • Samadista Karya • Astra Land Indonesia • Astra Modern Land

3

Toyota 37%

Daihatsu 18%

Isuzu 2%

Others 43%

Car

• Astra’s car market share increased from 51% to 56% and Astra’s motorcycle market share increased from 73% to 74%.

• Komatsu maintained its leading market position with a 37% market share, higher than the same period last year.

Source : Gaikindo

Honda 74%

Yamaha 23%

Suzuki 1%

Kawasaki 2%

Motorcycle

Source : AISI

Source: United Tractors – Internal Market Research

Heavy Equipment

Market Position as at 30 June 2017

4

Komatsu 37%

Caterpillar 17%

Hitachi 17%

Kobelco 14%

Others 15%

Corporate Actions

Mar‘17 • United Tractors through Unitra Persada Energia owned 25% Bhumi Jati Power, which will develop and operate two 1,000 MW thermal power plants in Central Java, completed its project financing agreement with lenders. This build, operate and transfer project is expected to cost approximately US$4.2 billion and is scheduled to start commercial operation in 2021. Bhumi Jati Power is a joint venture with Sumitomo Power Corporation and Kansai Electric Power.

Mar‘17

Jan ‘17 • Astratel Nusantara completed the acquisition of an initial 40% interest in PT Baskhara Utama Sedaya, which owns 45% of the operator of the fully operational 116km Cikopo-Palimanan toll road, and has subsequently conditionally agreed to acquire the remaining 60% interest.

• United Tractors through its subsidiary Tuah Turangga Agung, completed the acquisition of an 80.1% stake in PT Suprabari Mapanindo Mineral, a coking coal company in Central Kalimantan.

5

6

Corporate Actions

May‘17 • Astratel Nusantara acquired of the remaining 60% interest in PT Baskhara Utama Sedaya, which owns 45% stakes of the fully operational 116km Cikopo-Palimanan toll road. The total acquisition cost of the Group’s ownership of PT Baskhara Utama Sedaya is approximately Rp5 trillion.

Jun‘17 • Permata Bank completed its Rp3.0 trillion right issue.

• Astratel Nusantara increased its stakes in the 73km Semarang-Solo toll road from 25% to 40%.

Financial Performances

7

In Billion Rupiah 1H17 1H16 Change

IDR / USD, average 13,330 13,419 (1%)

Net Revenue 98,031 88,208 11%

Gross Profit 19,674 16,847 17%

Selling, General and Administrative Expenses

(10,387) (9,381) 11%

Other Income 878 695 26%

Shares of Results of Joint Ventures and Associates

3,772 2,071 82%

Income Tax Expenses (2,580) (1,922) 34%

Non-controlling Interests (2,000) (1,194) 68%

Net Income 9,357 7,116 31%

“Most of the Group’s businesses performed well in the first half of 2017. For the remainder of this year, the Group is expected to continue to benefit from stable coal prices, although results may be tempered by increasing competition in the car market and soft demand in the motorcycle market.”

- Prijono Sugiarto, President Director -

Consolidated Income Statement

8

2001 2015 2016 1H17

Auto (Incl. auto related Financial Services)

89%

76%

85%

65%

Non-Auto

11%

24%

15%

35%

Share of Net Income (%) Ownership % 1H17 1H16

Auto Non-Auto Auto Non-Auto 4W Automotive SO – Toyota, Daihatsu, Isuzu Toyota Astra Motor Astra Daihatsu Motor Isuzu Astra Motor Indonesia

100 50 32 50

25

31

2W Automotive Astra Honda Motor Honda SO

50

100

18

21

Component Astra Otoparts

80

2

2

Financial Services Astra Sedaya Finance Federal International Finance Toyota Astra Financial Services Komatsu Astra Finance SAN Finance Asuransi Astra Buana Permata Bank Astra Life

86

100 50 50 60 96 45 50

20

2

25

(7)

Heavy Equipment & Mining United Tractors Pamapersada Nusantara Tuah Turangga Agung Acset Indonusa Traktor Nusantara

60 60 60 30 50

22

16

Agribusiness Astra Agro Lestari

80

9

9

Infrastructure, Logistics, IT & Property Marga Mandalasakti SERA Palyja Astra Graphia Menara Astra Brahmayasa Bahtera Samadista Karya

79

100 49 77

100 60

100

2

3

9

Astra Portfolio as at 30 June 2017

• Net asset value per share was Rp2,881 at 30th June 2017, 4% higher than at the end of 2016.

• Net cash, excluding the Group’s financial services subsidiaries, was Rp2.6 trillion, significantly lower compared with net cash of Rp6.2 trillion at the end of 2016, mainly due to toll road, power plant and property investments made during the first half of 2017. The Group’s financial services subsidiaries had net debt of Rp49.1 trillion, compared with Rp47.7 trillion at the end of 2016.

In Billion Rupiah 30-Jun-17 31-Dec-16 Change

Cash and Cash Equivalents 31,725 29,357 8%

Trade Receivables 22,539 19,426 16%

Inventories 18,902 17,771 6%

Financing Receivables 65,600 64,639 1%

Investment in Joint Ventures and Associates 37,649 33,987 11% Fixed Assets 46,067 43,237 7%

Other Assets 64,135 53,438 20%

Total Assets 286,617 261,855 9%

Short-term Borrowings 19,742 18,764 5%

Trade Payables 28,565 22,489 27%

Long-term Debt 58,449 52,146 12%

Other Liabilities 34,345 28,550 20%

Total Liabilities 141,101 121,949 16%

Equity Attributable to the Owners of The Parent 116,627 111,951 4%

Non – controlling Interest 28,889 27,955 3%

Total Equity 145,516 139,906 4%

Net Debt (Cash) 46,466 41,553 12%

Net Cash (Excl. Financial Services) (2,629) (6,193) (58%)

Consolidated Balance Sheet

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In Billion Rupiah 1H17 1H16 Change

Cash generated from operations 13,822 11,013 2,809

Tax Payments (2,009) (2,684) 675

Interest Received 799 685 114

Net Cash flow provided from Operating Activities 12,612 9,014 3,598

Dividend Received 4,102 2,366 1,736

Net Capex (5,925) (3,364) (2,561)

Net Investment (4,882) (3,293) (1,589)

Other Investing (2,810) 209 (3,019)

Net Cash flow used in Investing Activities (9,515) (4,082) (5,433)

Net Proceeds / (Repayments) of Debt 5,686 2,840 2,846

Finance Costs Paid (1,073) (960) (113)

Dividend Payments (5,743) (5,539) (204)

Other Financing (14) 1,079 (1,093)

Net Cash flow used in Financing Activities (1,144) (2,580) 1,436

Increase in Cash 1,953 2,352 (399)

Opening Cash Balance (incl. Bank Overdraft) 29,356 27,072 2,284

Exchange Rate Adjustment (41) (571) 530

Closing Cash Balance (incl. Bank Overdraft) 31,268 28,853 2,415

Consolidated Cash Flow As at 30 June 2017, Astra’s ending consolidated cash balance (incl. Bank Overdraft) was Rp31.3 trillion.

11

Business Updates

12

Astra’s car sales were 10% higher at 421,000 units, resulting in an increase in market share from 50% to 54%.

Automotive – Wholesale Car Market

Astra 298,488 / 55.9%

Astra 272,661 / 51.2%

Others 235,415 / 44.1%

Others 259,466 / 48.8%

4x2 & 4x4 295,024 / 55.3%

4x2 & 4x4

330,756 / 62.2%

Commercial 112,048 / 21%

Commercial, 103,784 / 19.5%

LCGC 121,425 / 22.7%

LCGC 90,409 / 17%

Toyota 196,012 / 36.8%

Toyota 175,068 / 32.9%

Daihatsu 94,287 / 17.7% Daihatsu

89,510 / 16.8%

Isuzu, 8,167 / 1.5% Isuzu, 8,064 / 1.5%

Other Brands 234,415 / 44.1%

Other Brands 259,466 / 48.8%

M/S 1H17

Market Segment

Brand

M/S 1H16

Market Segment

Brand

Sedan 7,178 / 1.3%

Sedan 5,406 / 1%

1H17 1H16

532,127 533,903

Astra’s car sales were 9% higher at 298,000 units, resulting in an increase in market share from 51% to 56%.

0%

Source: Gaikindo 13

Toyota Corolla Altis January 2017

Lexus RX 200t F Sport January 2017

During first semester 2017 , Astra has launched 1 new model and 4 revamped models.

Automotive – Car Product Launches

Toyota Innova Venturer January 2017

14

Astra Toyota Agya April 2017

Astra Daihatsu Ayla April 2017

Honda 2,005,944

74.3%

Honda 2,158,388

72.8%

Yamaha 614,895 22.8%

Yamaha 719,302 24.3%

Kawasaki 1.5% Suzuki 1.1%

Suzuki 1.4%

Kawasaki 1.8%

Cub 151,366

7.6%

Cub 190,635

8.8%

Scooter 1,719,845

85.7%

Scooter 1,795,352

83.2%

Sport/Others 6.7%

Sport/Others 8%

Cub 151,366 69.8%

Cub 190,635 67.5%

Scooter 1,719,845

78.3%

Scooter 1,795,352

78%

Sport/Others 46.9%

Sport/Others 45.3%

Cub 216,896

8%

Cub 282,307

9.5%

Scooter 2,196,220

81.3%

Scooter 2,300,402

77.6%

Sport/Others 10.6%

Sport/Others 12.8%

Brand 1H17

Honda Segment

Honda Product M/S

Segment

Brand 1H16

Honda Segment

Honda Product M/S

Segment

Source: AISI

1H17 1H16

2,962,888 2,700,546

Astra Honda Motor’s domestic sales were 7% lower at 2.0 million units; however, its market share increasing from 73% to 74%.

Automotive – Wholesale Motorcycle Market

9%

15

Honda CMX 500 Rebel March 2017

Honda Scoopy March 2017

Automotive – Motorcycle Product Launches During first semester 2017, Astra Honda Motor has launched 6 new models and 11 revamped models.

16

Honda Supra GTR April 2017

Honda BeAT Street June 2017

Honda CB 650F April 2017

Honda SH 150i April 2017

Honda CMX 500 Rebel March 2017

Net income of Astra Otoparts, the Group’s component business, increased 30% to Rp198 billion, mainly due to higher earnings contributions from its joint venture and associate companies.

Automotive – Components

17

Net Income (Rp bio) Revenue (Rp bio)

1% 30%

6,472 6,435

1H17 1H16

198

152

1H17 1H16

135

9

1H17 1H16

Share of Results of Associates and Joint Ventures (Rp bio)

1,435%

Net income from the Group’s financial services division increased 62% to Rp2.0 trillion, with improved contributions from most of its financial services businesses.

Amount Financed (Rp bio) 1H17 1H16 %

Auto

ACC (Incl. HE) 14,303 13,266 8

TAF 7,224 6,580 10

Total 4W 21,526 19,846 8

FIF (Incl.Electronics) 17,062 15,880 7

Total Auto 38,588 35,726 8

HE

SANF 1,519 1,203 26

KAF* 1,644 680 142

Total HE 3,162 1,883 68

• 1H17 consolidated net income Rp621 billion

(1H16 : consolidated net loss Rp836 billion)

• Loan book decreased by 23% YoY to Rp93.2 trillion.

• LDR 87% & CAR 19%.

• Gross-NPL ratio down from 8.8% at the end of 2016

to 4.7%.

Asuransi Astra

• Higher net income by 24% to Rp503 billion.

• 1H17 Gross Written Premium up by 11% year on year to Rp2.1 trillion.

• RBC: 254%**, requirement 120%.

Permata Bank

Unit Financed 1H17 1H16 %

Auto

ACC (new & used cars) 80,724 90,215 (11)

TAF 42,043 39,003 8

Total 4W 122,767 129,218 (5)

FIF (Incl.Electronics)’000 1,787 1,713 4

HE

ACC (HE - units) 218 257 (15)

SANF 443 222 100

KAF 335 153 119

Total SANF & KAF 778 375 107

Financial Services

* Average exchange rate USD/IDR: 13,330 (1H17) & 13,419 (1H16) **Tentative figure, waiting confirmation from OJK 18

19

3,635 4,457

TTA Mine (all in thousand tonnes)

52.0 50.2

Coal Production (mn tonnes)

360.4 341.1

Overburden Removal (mn bcm)

11,194 6,864

13,251

11,563

3,960

3,193

1,026

944

Construction Machinery Mining Contracting

Mining Construction Industry

51%

23%

13%

15%

22%

52%

14%

10%

Mining Forestry Construction Agro

Mining Contracting

Coal Mines: Sales Komatsu Unit Sales

1,036

Revenue (Rp bio)

1H17 1H16 1H17 1H16

1H17 1H16 1H17 1H16

30%

Coal Production

4%

OB Removal

6%

18% 69%

United Tractors, which is 59.5%-owned, reported net income 85% higher at Rp3.4 trillion, mainly due to improved performance of its construction machinery, mining contracting and mining operations, all of which benefited from improved coal prices.

Heavy Equipment & Mining

29,431

22,564

1,751

833 760

CPO & Derivatives Sales 20

268 259

29 39

Immature

Mature 762 670

CPO Production

1.88 1.68

4,969 4,247

3,577

2,097 Export

Local

Area Maturity (‘K Ha)*

Revenue (Rp bio)

CPO Production (‘K tonnes) 297 298

* Incl. plasma plantation

CPO Yield (tonne/Ha)

6,345

1H17 1H16

35% 12%

14%

8,546

1H17 1H16

1H17 1H16 1H17 1H16

10%

Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp1.0 trillion, up from Rp792 billion in the first half of 2016, due to improved revenue from higher crude palm oil prices and increased crude palm oil production.

Agribusiness

CPO & Derivatives Sales (‘K tonnes)

1H17 1H16

22,744 23,972

SERA Unit in Contract (unit)

24,358 23,396

MMS Vehicle Traffic Volume (‘000 units)

1H17 1H16

1H17 1H16

5%

4%

The 72km Tangerang-Merak toll road, operated by 79.3%-owned Marga Mandalasakti, saw traffic volumes increase by 4% to 24 million vehicles.

Serasi Autoraya’s net income increased by 82% to Rp80 billion, due to higher net margins in its car leasing and rental business, despite a 5% decline in vehicles under contract.

Infrastructure & Logistics

21

65% 54%

35% 46%

Astragraphia Revenue (Rp bio)

1H17 1H16

AGDS

13%

1,145 1,213

Information Technology

AGIT

28%

72

95

Astragraphia Net Income (Rp bio)

1H17 1H16

25%

Astra Graphia, which is 76.9%-owned, reported a 25% decrease in net income to Rp72 billion, mainly due to lower revenue from its IT solutions business.

22

68

35

Net Income (Rp bio)

1H17 1H16

Property

Construction continues to progress at the 94%-sold Anandamaya Residences, the Group’s 60%-owned luxury residential development in Jakarta’s Central Business District which, together with the adjacent Menara Astra, are on schedule for completion in 2018.

94%

Net income from the Group’s property division at Rp68 billion was 94% higher, mainly due to higher development earnings recognised on its Anandamaya Residences development.

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Appendices

24

In Billion Rupiah 1H17 1H16 Change

Automotive 46,510 46,273 1%

Financial Services 9,169 8,529 8%

Heavy Equipment & Mining 29,330 22,366 31%

Agribusiness 8,546 6,345 35%

Infrastructure & Logistics 3,476 3,636 (4%)

Information Technology 996 1,055 (6%)

Property 4 4 0%

Total 98,031 88,208 11%

Divisional Net Income

In Billion Rupiah 1H17 1H16 Change

Automotive 4,200 3,864 9%

Financial Services 2,035 1,253 62%

Heavy Equipment & Mining 2,057 1,121 83%

Agribusiness 832 631 32%

Infrastructure & Logistics 110 139 (21%)

Information Technology 55 73 (25%)

Property 68 35 94%

Total 9,357 7,116 31%

Divisional Net Revenue and Net Income Divisional Net Revenue

25

Models Launched Launching Period Engine Capacity Prices (Rp mio)

Lexus RX 200t F Sport Jan’17 2,000cc 1,340

Toyota Kijang Innova Venturer Jan’17 2,000cc-2,400cc 388.6-447.9

Toyota Corolla Altis Jan’17 2,000cc 426.1-460.6

Astra Toyota Agya Apr’17 1,000cc-1,200cc 127.6-151.9

Astra Daihatsu Ayla Apr’17 1,000cc-1,200cc 92.6-146.3

Car Products Launched in 1H17

26

Models Launched Launching Period Engine Capacity Prices (Rp mio)

Honda PCX 150 Jan’17 150cc 40.1

Honda CRF 250 Feb’17 250cc 62.9

Honda CRF 1000L Africa Twin Feb’17 1,000cc 464-499

Honda CBR 250R Feb’17 250cc 63.2-72

Honda CB 500F Feb’17 500cc 139.3

Honda CBR 500R Feb’17 500cc 144.3

Honda Supra X 125 Feb’17 125cc 16.8-17.8

Honda Scoopy Mar’17 110cc 17.8

Honda CB 500X Mar’17 500cc 147.4

Honda CMX 500 Rebel Mar’17 500cc 147.4

Honda SH150i Apr’17 150cc 44.9

Honda CB650F Apr’17 650cc 235

Honda Vario 150 Apr’17 150cc 21.2

Honda Vario 125 Apr’17 125cc 18.2-18.8

Honda Supra GTR Apr’17 150cc 21.6-21.8

Honda CBR 150R Apr’17 150cc 33.0-33.7

Honda BeAT Street Jun’17 110cc 15.9

Motorcycle Products Launched in 1H17

27

National Market Data 1H17 1H16

Major Brands Wholesale Astra Wholesale Astra

Car

Non LCGC 413,276 50% 442,176 49% Toyota – Avanza, Innova, Fortuner; Honda – HR-V, Mobilio, BR-V, Daihatsu – Xenia, Terios, Gran Max

LCGC 120,627 78% 89,951 61% Astra Toyota – Calya, Agya; Astra Daihatsu – Sigra, Ayla; Honda - Brio Satya; Datsun - GO Panca; Suzuki - Karimun Wagon R

Total 533,903 56% 532,127 51%

Mo

torc

ycle

Cub 216,896 70% 282,307 68% Honda - Supra Series, Revo Series, Blade; Yamaha – Jupiter MX King, Jupiter ZX, Vega Force; Suzuki – Smash; Kawasaki - ZX130, Edge

Scooter 2,196,220 78% 2,300,402 78% Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max, Fino; Suzuki – Address, Nex

Sport 287,430 47% 380,179 45% Honda - CB 150 R Street Fire, Verza, CBR 150R, Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson; Suzuki - Satria F 150; Kawasaki – Ninja

Total 2,700,546 74% 2,962,888 73%

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No Brokerage Analyst Email

1 Bahana Securities Leonardo Henry Gavaza leonardo@bahana.co.id 2 BCA Sekuritas Pandu Anugrah pandu.anugrah@bcasekuritas.co.id 3 CIMB Securities Indonesia Erindra Krisnawan erindra.krisnawan@cimb.com

4 Ciptadana Securities Arief Budiman budimanarief@ciptadana.com

5 Citigroup Investment Research Ferry Wong ferry.wong@citi.com 6 CLSA Indonesia Sarina Lesmina sarina.lesmina@clsa.com 7 Credit Suisse Securities Indonesia Jahanzeb Naseer jahanzeb.naseer@credit-suisse.com

8 Danareksa Sekuritas Stefanus Darmagiri stefanus.darmagiri@danareksa.com

9 DBS Vickers Maynard Priajaya Arif maynard.arif@id.dbsvickers.com

10 Deutsche Verdhana Securities Reggy Susanto nicholas.nugroho@db.com

11 Goldman Sachs Pramod Kumar pramod.kumar@gs.com

12 HSBC Tarun Bhatnagar tarunbhatnagar@hsbc.com.sg

13 IndoPremier Securities Chandra Pasaribu chandra.pasaribu@ipc.co.id

14 J.P. Morgan Aditya Srinath aditya.s.srinath@jpmorgan.com

15 Macquarie Capital Securities Ricky Tjandra ricky.tjandra@macquarie.com

16 Mandiri Sekuritas Ariyanto Kurniawan ariyanto.kurniawan@mandirisek.co.id

17 Maybank Kim Eng Securities Isnaputra Iskandar isnaputra.iskandar@maybank-ke.co.id

18 Merrill Lynch Swati Chopra swati.chopra@baml.com

19 Mirae Asset Franky franky@miraeasset.co.id 20 MNC Securities Edwin Sebayang edwin.sebayang@mncsecurities.com

21 Morgan Stanley Andri Ngaserin andri.ngaserin@morganstanley.com

22 Nomura Indonesia Elvira Tjandrawinata elvira.tjandrawinata@nomura.com

23 Onix Capital Bagus Hananto bagus.hananto@ocap.co.id

24 Reliance Securities Robertus Yanuar Hardi robertus@reliance-securities.com

25 RHB OSK Securities Indonesia Andrey Wijaya andrey.wijaya@id.oskgroup.com 26 Samuel Sekuritas Akhmad Nurcahyadi akhmad.nurcahyadi@samuel.co.id

27 Sucor Sekuritas Raditya Immanzah raditya.immanzah@sucorinvest.com

28 Trimegah Securities Frederick Daniel frederick.daniel@trimegah.com 29 UBS Securities Indonesia Ronald Liem ronald.liem@ubs.com 30 UOB Kay Hian Securities Stevanus Juanda stevanusjuanda@uobkayhian.com 31 Valbury Asia Securities Budi Rustanto budi.rustanto@valbury.com 32 Yuanta Securities Indonesia Yusuf Ade Winoto yusuf.winoto@yuanta.co.id

Equity Research Contact Details

29

For further information please contact:

PT Astra International Tbk

Corporate Investor Relations

P: (+62 21) 652 2555

F: (+62 21) 6530 4953

E: investor@ai.astra.co.id

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