PT Astra International Tbk 9M12 Results Presentation

Disclaimer: This report has been prepared by PT Astra International Tbk independently and is circulated for the purpose of general information only. It is not intended for the specific person who may receive this report. The information in this report has been obtained from sources which we deem reliable. No warranty (expressed or implied) is made as to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice.

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 PT Astra International Tbk 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.

Cautionary note on forward-looking statements: This report may contain statements regarding the business of PT Astra International Tbk and its subsidiaries that are of a forward-looking nature and are therefore based on management's assumptions about future developments. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors. Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. The reader and/or listener is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward-looking statements. Highlights Overview The Group’s results for the nine months ended 30th September 2012 were 9% ahead of 2011. Strong results from the Group’s car businesses were partially offset by a lower profit contribution from the Group’s palm oil and motorcycle businesses. 2012 nine months financial statements • Net earnings per share up 9% to Rp 362 • Unit sales of cars up by 24% and motorcycles 3% lower • Komatsu unit sales down by 15% • Overburden removal and coal extraction up by 8% Group results Nine months ended 30th September

2012 2011 Change % Net Revenue (Rp bn) 143,138 119,530 20% Net Income (Rp bn)* 14,671 13,441 9% Earnings per share (Rp) 362 332 9% As at 30th As at 31st September 2012 December 2011 Shareholders’ Funds (Rp bn)** 66,518 60,449 10% Net asset value per share (Rp)** 1,643 1,493 10% * Net income is profit attributable to owners of the parent. ** Shareholders' funds and Net asset value per share are based on equity attributable to owners of the parent.

1 Business structure Automotive Financial Services Heavy Equipment Agribusiness Infrastructure Information & Mining & Logistics Technology

Automobile Automobile Construction Palm Oil Toll Road Document • Machinery Solution • •Astra Credit Companies •Isuzu •United Tractors •MMS : 72km Astra Graphia •Toyota Astra •BMW •Traktor Astra Agro Lestari •MTN : 11km Finance •Peugeot Nusantara •MHI : 41km •UD Trucks Motorcycle Logistics IT Solution Motorcycle Federal Intl. Mining Contractor Finance •SERA / TRAC PAMA Persada •Mobil 88 (used) Astra Graphia Honda Nusantara •SELOG Information Heavy Equipment •TFLI Technology

Component •SAN Finance •Komatsu Astra Coal Mining Water Utility Finance Astra Otoparts •PMM Palyja Banking • TTA • ABP Bank Permata • BEE Fuel Logistic Others • ABB / ABJ • DS / DN Astraworld • PJU Gresik Terminal Insurance

Asuransi Astra Buana

2 Market position at 30 September 2012

• Astra maintains car market share at 55%, with motorcycle market share increasing from 52% to 58% • Market share for Komatsu declined by 6% driven by slower demand in mining sector and increased competition

Car Motorcycle

Others Kawasaki Isuzu 9% 2% 6% 3% Honda Toyota 6% 37% Nissan 6% Yamaha Honda Suzuki 34% 58% 11% Heavy Equipment Others, 5% Mitsubishi Kobelco, Daihatsu 13% 12% 15% Source : Gaikindo Komatsu, Source : AISI 44%

Hitachi, 20%

Caterpillar, 19% Source: United Tractors – Internal Market Research 3 9M 2012 corporate actions

January • SANF issued Bond II amounting to Rp 1.5 trillion

February • ASF issued Bond (PUB 1 2012) with total of Rp 5 trillion

April • TTA completed coal mining acquisition of Duta Nurcahya (DN) with share ownership of 60% • FIF issued Bond (PUB 1 2012) with total of Rp 4 trillion

• AI announced a 10 for 1 stock split June • AI paid final 2011 dividend amounting to Rp 5.6 trillion with DPR 45%. Total 2011 dividend Rp 8 trillion • AOP and Pirelli established a joint venture “PT Evoluzione Tyres” to produce auto tire in Indonesia • TAFS issued Bond II amounting to Rp 1.3 trillion • Bank Permata issued Subordinated Debt amounting to Rp 700 billion

• SERA issued “Serasi Autoraya III” bonds with total principal amount of Rp 780 billion July • AOP formed a JV company “PT Astra Juoku Indonesia” to produce automotive lamp

August • AOP established two subsidiary companies to produce 4W plastic parts, tube, hose, and belt

• Astra introduced new collaboration for Low Cost Fuel Efficient cars named “Astra Toyota Agya” September and “Astra ” • UT through TTA acquired 60% of Piranti Jaya Utama (“PJU”), a coal concession in Barunang, Central Kalimantan 4 Financial Performance 9M 2012 environment

 Indonesia domestic consumption remains strong supported by low inflation rate, attractive interest rate and sufficient liquidity, and increased foreign direct investment, despite recent weakening of IDR against USD

 Domestic car sales benefitted from rising incomes. The introduction of minimum down-payments in auto financing in June 2012 mainly impacted sales in the motorcycle market

 Slowing demand in the heavy equipment business reflects weakening coal prices and increased competition from excess production redirected from the Chinese market

 Despite lower average crude palm oil prices, palm oil production increased due to higher matured area and seasonally high crops productivity

 While the prospects for the businesses remain sound, the fall in commodity prices has resulted in a less certain outlook

6 Consolidated income statement The group recorded net income of Rp 14.7 tn for 9M12, 9% ahead of same period last year, supported by:  Strong car sales on higher consumer demand and increased capacity  Higher financial services profitability on new financing growth and better net interest margin  Improved heavy equipment & mining results, mainly contributed by spare parts & services business and mining contracting business on stronger coal production and overburden removal

In Billion Rupiah 9M12 9M11 % Chg USD / IDR, average 9,348 8,690 8% Revenue 143,138 119,530 20% Gross Profit 27,286 23,822 15% Operating Expenses (12,042) (10,512) 15% Other Income 1,564 1,629 (4%) Equity Income 4,290 4,461 (4%) Income Tax Expense (3,900) (3,478) 12% Non-controlling interest (2,527) (2,481) 2% Net Income 14,671 13,441 9%

7 Astra portfolio as at 30 September 2012 Ownership % Share of NI % • Higher net income contribution from Auto Non-Auto 4W on stronger consumer demand and 4W Automotive solid new models line up SO – Toyota, Daihatsu, Isuzu 100 51 30.1 Astra Daihatsu Motor 32 • Lower contribution from 2W due to Isuzu Astra Motor Indonesia 45 down-payment regulation and lack of 2W Automotive scooter supply, and commodity related Astra Honda Motor 50 14.3 businesses driven by weakening Honda SO 100 commodity prices Component Astra Otoparts 96 5.0 • Net income contribution Auto vs. Non- Financial Services Auto segments: Astra Sedaya Finance 100 Federal International Finance 100 2001 2010 2011 9M12 Toyota Astra Financial Services 50 15.0 4.3 Komatsu Astra Finance 50 SAN Finance 60 Auto (Incl. auto 89% 66% 61% 64% Asuransi Astra Buana 96 related Financial Permata Bank 45 Services) Heavy Equipment & Mining United Tractors 60 18.4 Pamapersada Nusantara 60 Non-Auto 11% 34% 39% 36% Agribusiness Astra Agro Lestari 80 9.1 Infrastructure, Logistics, IT SERA 100 Palyja 49 3.8 Marga Mandalasakti 79 77 Astra Graphia 8 Consolidated balance sheet • Astra’s net asset value of Rp 1,643 per share* at Sep’12 was 10% higher than at the end of 2011 • Net debt at Sep’12 was Rp 41.7 tn, up by 31% due to an increased in the volume financed in financial services business and investment/capex in the heavy equipment, mining and agribusiness sectors. Overall, DER was maintained at 50%

In Billion Rupiah 30-Sep-12 31-Dec-11 % Chg Cash and Cash Equivalents 12,558 13,203 (5%) Trade Receivables 18,577 14,526 28% Inventories 14,262 11,990 19% Financing Receivables 47,328 41,033 15% Investments in Associates and Jointly Controlled Entities 18,358 16,997 8% Fixed Assets 33,552 28,804 16% Other Assets 33,856 27,636 23% Total Assets 178,491 154,189 16% Short-term Borrowings 3,563 4,681 (24%) Trade Payables 14,836 15,542 (5%) Long-term Debt 50,700 40,309 26% Other Liabilities 25,744 17,819 44% Total Liabilities 94,843 78,351 21% Equity Attributable to The Owners of The Parent 66,518 60,449 10% Non – controlling Interest 17,130 15,389 11% Total Equity 83,648 75,838 10% Net Debt 41,705 31,787 31% Net Debt (Excl. Financial Services) 5,691 572 895% * Net asset value per share is based on equity attributable to the owners of the parent.

9 Consolidated cash flow

Astra maintains strong cash flow generated from operating activities and dividend received

In Billion Rupiah 9M12 9M11 Change Cash from operations 10,835 10,064 771 Tax Payments (4,383) (2,973) (1,410) Interest received 529 470 59 Dividend Received 3,021 2,639 382 Cash flow from Operating Activities + Dividend Received 10,002 10,200 (198) Net Capex (8,652) (6,693) (1,959) Net Investment (1,238) (2,426) 1,188 Other Investing (658) (610) (48) Cash flow for Investing Activities (10,548) (9,729) (819) Net proceed of Debt 7,277 10,711 (3,434) Interest Payment (733) (449) (284) Dividend Payment (6,674) (5,368) (1,306) Other Financing (94) 2,612 (2,706) Cash flow from Financing Activities (224) 7,506 (7,730) Increase in Cash (770) 7,977 (8,747) Opening Cash Balance 13,163 7,093 6,070 Exchange Rate Adjustment 155 15 140 Closing Cash Balance 12,548 15,085 (2,537)

10 Business Updates Car

9M2011 9M2012 659,857 816,822

Others 8.9% Commercial Nissan 6.4% 244,674 Others Honda 5.5% 30.0% Others 8.7% 368,546 Commercial Suzuki 10.8% Nissan 5.7% Commercial 45.1% 31.1% Others Honda 5.5% 209,824 297,554 31.8% Mitsubishi Suzuki 10.4% Commercial 13.4% 45.1% 28.3% Mitsubishi Commercial Isuzu 3.1% 14.8% 17.0% Daihatsu Commercial Isuzu 3.2% 14.8% 4x2 & 4x4 16.4% Daihatsu 545,773 15.2% 4x2 & 4x4 4x2 & 4x4 Astra 4x2 & 4x4 66.9% 428,395 65.3% Astra 447,776 79.6% 64.9% 362,303 4x2 & 4x4 4x2 & 4x4 54.9% 68.2% 54.9% 80.6% Toyota Toyota 36.2% 36.6%

Sedan 3.0% Sedan 3.3% Sedan 50.9 % Sedan 3.4% Sedan 3.2% Sedan 58.6% M/S AI Product Brand Segment AI Product M/S AI Product Brand Segment AI Product 9M11 Segment M/S 9M12 Segment M/S Source: Gaikindo

Domestic car sales grew by 24%. Astra was able to maintain a leading market position with 55% market share

12 Several product launches - car For the first 9M12, Astra launched 17 new car models and 26 revamped models

Toyota FJ Cruiser VNT September 2012 Agustus 2012

BMW 640i Gran Coupe September 2012

Toyota Vios Toyota Hi-Ace September 2012 September 2012 13 Motorcycle 9M 2011 9M 2012 6,194,700 5,331,166

Others 1.4 % Sport/Others Suzuki 6.4% 26.8. % Sport/Others 10.8% Others 1.8% Suzuki 5.9% Sport/Others Sport/Others Yamaha 17.4 % 14.0% 2,519,593 Scooter Yamaha 40.7% 3,094,229 1,836,875 49.9% 34.5% Sport/Others Scooter Sport/Others Scooter 5.6% 54.6 % 4.2% 3,129,964 Scooter 58.7% Scooter 67.1 % 1,690,072 Scooter Honda 53.0% Honda 2,101,605 3,190,683 Cub 3,079,181 68.3% 51.5% 2,431,033 57.8% Cub Cub Cub 39.2% Cub 1,321,019 Cub 1,454,537 41.4% 54.3% 847,972 27.3% 27.5% 58.3% Brand Honda Segment Honda Product Segment Brand Honda Segment Honda Product Segment 9M11 M/S 9M12 M/S Source: AISI Motorcycle sales declined by 14%, impacted by minimum down-payment regulation and a tightening underwriting standard. Honda sales declined by 3%, with market share increased to 58%

14 Several product launches - motorcycle During 9M 2012 Astra Honda Motor launched 2 new models and 9 revamped models

Beat PCX 150 January 2012 June 2012

New Vario Techno-PGM FI March 2012

Mega Pro Supra X125 Helm In PGM-FI June 2012 July 2012 15 Components

• PT Astra Otoparts Tbk, the Group’s 95.7%-owned, reported a net income of Rp 767 bn, an increase of 2% • The 13% increase in revenue, mainly in respect of the OEM and replacement markets, was largely offset by higher raw material and labour costs that could not be fully passed on to customers

Revenue (IDR billion) Net Income (IDR billion)

6,168 5,451 8% 754 767 11% Export Export 41% 8% 9% After 40% 544 553 After Market Market 22%, 24% OEM OEM 51% 67% 49% 70% 210 214

9M11 9M12 9M11 9M12 Export After Market OEM Equity Income Consolidated

16 Financial services Group Financial Services recorded a net income growth by 9% to Rp 2.8 tn, driven by financing activity growth and better spread due to declining funding cost

Unit Financed 9M12 9M11 % Asuransi Astra Buana ACC 126,331 115,750 9 • 9M12 Gross Written Premium up by 15% TAFS 41,149 36,596 12 Auto to Rp 2.5 trillion Total 4W 167,480 152,346 10 FIF 1,214,964 1,233,574 (2) • RBC: 205%, requirement 120% SANF 2,936 2,799 5 HE KAF 296 337 (12) Bank Permata Total HE 3,232 3,136 3 • 9M12 consolidated net income increased by Amount Financed (Rp bio) 9M12 9M11 % 16% to Rp 1.1 trillion vs. 9M11 ACC 18,091 16,560 9 TAFS 6,207 5,306 17 • Loan book grew by 39% to Rp 89.9 trillion Auto Total 4W 24,298 21,866 11 • LDR & CAR with market risk: 97% & 13% FIF 14,304 15,504 (8) • Net-NPL ratio were down from 0.7% to 0.4% SANF 3,752 3,363 12 HE KAF 2,084 1,861 12 Total HE 5,836 5,224 12 * Incl. Joint Financing

17 Heavy equipment & mining

PT United Tractors Tbk, 59.5%-owned, reported net income up 3% at Rp 4.5 trillion as net revenue rose 11%

Revenue (Rp bio) Mining Contracting 44,137 39,752 5,018 3,915 634.0 15,932 20,128 68.5 63.6 588.5 19,905 18,991

9M11 9M12 9M11 9M12 Construction Machinery Mining Contracting Mining Coal Production (mn tonnes) Overburden Removal (mn bcm)

Coal Mines: Reserves and Sales Komatsu Unit Sales

6,396 Est. Combined Coal 4,520 10% 5,455 Reserves (Mio Tons) 16% 14% TTA 35 3,211 6% 2,295 24% PMM 11 699 6% ABP 9 68% ABB/ABJ 60 56% DS/DN 45 2,512 2,225 BEE 177 9M11 9M12 PJU 45 9M11 9M12 Mining Forestry Agro Construction Total 382 PMM TTA (all in thousand tonnes)

18 Agribusiness • PT Astra Agro Lestari Tbk, 79.7%-owned, reported net income of Rp 1.7 trillion in 9M12, 10% down • Palm oil production increased 11% to 1 million tonnes, while average CPO prices achieved were marginally lower

Revenue (Rp bio) CPO Yield (tonne/Ha) 8,575 193 7,936 3.64 3.71 345 Export 8,382 Local 7,591

9M11 9M12 9M11 9M12

CPO Production & Sales (‘K tonnes) Area Maturity (‘K Ha) * 265 268 45 33

Immature 1,035 994 931 890 220 Mature 235

9M11 9M12 9M11 9M12 Production Sales * Incl. plasma plantation 19 Infrastructure and logistics

• Marga Mandalasakti, Tangerang – Merak 72.5km TRAC Rental Car (unit) toll road operator, reported a 16% increase in traffic volume to 28 million vehicles

• PAM Lyonnaise Jaya, the western Jakarta water utility system, increased it’s sales volume by 4% 31,174 26,120 • Serasi Auto Raya reported a 19% y.o.y increase in vehicles under contract at its TRAC car rental business to over 31,000 units 9M11 9M12

MMS Vehicle Traffic Volume (‘K unit) Palyja Water Sales Volume (Mn m3)

27,516 117.9 23,775 113.7

9M11 9M12 9M11 9M12

20 Appendices Divisional revenue and net income Divisional Revenue In Billion Rupiah 9M12 9M11 % Chg Automotive 74,969 59,138 27% 4W 57,902 43,629 33% 2W 10,934 10,086 8% Components 6,133 5,423 13% Financial Services 9,611 8,580 12% Heavy Equipment 44,010 39,680 11% Agribusiness 8,575 7,936 8% Infrastructure & Logistics 4,800 3,331 44% Information Technology 1,173 865 36% Total 143,138 119,530 20%

Divisional Net Income In Percentage of Total 9M12 9M11 ∆ Automotive 49.4% 46.0% 3.4% 4W 30.1% 23.8% 6.3% 2W 14.3% 16.8% (2.5%) Components 5.0% 5.4% (0.4%) Financial Services 19.3% 19.3% 0.0% Heavy Equipment 18.4% 19.6% (1.2%) Agribusiness 9.1% 11.0% (1.9%) Infrastructure & Logistics 3.2% 3.6% (0.4%) Information Technology 0.6% 0.5% 0.1% 22 Several products launched in 9M 2012

Recent Models Launched Launching Time Engine Capacity Prices (IDR mn) Car BMW 640i Grancoupe Jul-12 3,000 cc 1,628* Toyota Fortuner VNT Aug-12 2,500-2,700cc 387-489.7 Toyota FJ Cruiser Sep-12 4,000cc 800-900 Toyota Hi Ace Sep-12 2,500cc 355-398 Sep-12 1,500cc 216.6-263.1 BMW X6 xDrive35i LCI Sep-12 3,000 cc 1,768* BMW M6 Sep-12 4,400cc 2,398* BMW 730Li LCI Sep-12 3,000 cc 1,688* BMW 740Li LCI Sep-12 3,000 cc 1,988* BMW 750Li LCI Sep-12 4,400 cc 2,898* BMW 760Li LCI Sep-12 6,000 cc 3,388* BMW 730Ld LCI Sep-12 3,000 cc 1,748*

Motorcycle Supra X 125 Helm In PGM-FI Jul-12 125cc 16.3

*Off the road

23 National market data (summary)

9M12 9M11 Major Brands Wholesale Astra Wholesale Astra Toyota - Vios/Limo, Camry, Altis ; Honda - City, Sedan 25,875 59% 21,638 51% Accord, Civic; Mercedes - C Series, E Series Toyota - Avanza, Innova, Rush, Yaris: Daihatsu - Xenia, Terios, Gran Max; Nissan - Grand 4X2 & 4X4 545,773 65% 428,395 68% Livina, Evalia; Suzuki - Ertiga, APV; Honda - Jazz, Freed, CR-V, Brio; Mitsubishi – Pajero Sport, Outlander Sport, Mirage Car Mitsubishi – Canter, L-300, Fuso; Suzuki – Carry; Pick Up/ Trucks/ Bus 229,899 31% 195,380 28% Daihatsu – Grand Max; Isuzu – Elf, Panther, Giga; Toyota – Dyna Ford – Ranger; Toyota – Hilux; Mitsubishi – Strada; Double Cabin 14,775 38% 14,444 25% Isuzu – D-Max Total 816,322 55% 659,857 55% Honda - Supra X 125, Absolute Revo ; Yamaha - Cub 1,454,537 58% 2,431,033 54% Jupiter MX, Vega ZR, Jupiter Z; Suzuki – Smash Titan, Shogun Axello 125 Honda - BeAT, Vario, Spacy; Yamaha - Mio, Fino, Scooter 3,129,964 67% 3,094,229 55% Xeon; Suzuki – Nex, Skydrive, Hayate Yamaha V-ixion, Bison; Honda - New Mega Pro,

Motorcycle Sport & Others 746,665 17% 669,438 27% New Tiger; Suzuki - Satria F 150, Thunder EN 125 Total 5,331,166 58% 6,194,700 52%

Source: Gaikindo

24 For further information please contact: Investor Relations of PT Astra International Tbk - Attn: Iwan Hadiantoro / Tira Ardianti / Inneke Soendoro / Christian P: (+62 21) 652 2555 F: (+62 21) 6530 4953 E: [email protected] / [email protected] / [email protected] / [email protected]

25