PT Astra International Tbk 1H 2013 Results Presentation Nomura Indonesia All Access Conference 2013, 22 October 2013, Shangrilla Hotel Jakarta 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.

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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 net earnings declined by 9%, with improved contributions from the financial services and mining contracting businesses offset by lower contributions from the automotive, heavy equipment and agribusiness segments.

Group results Period ended 30th June

2013 2012 Change Net Revenue (Rp bn) 94,279 95,919 (2%) Net Income (Rp bn)* 8,819 9,678 (9%) Earnings per share (Rp) 218 239 (9%) As at 30th As at 31st Change June 2013 December 2012 Shareholders’ Funds (Rp bn)** 75,061 71,201 5% Net asset value per share (Rp)** 1,854 1,759 5%

* 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.

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

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

Asuransi Astra Buana Eastkal

3 Market position at 30 June 2013 • Astra’s car market share declined from 56% to 53%, while Astra’s motorcycle market share increased from 57% to 60% • Komatsu maintains its leading market position, despite tight competition and weaker demand for heavy equipment

Car Motorcycle Others Kawasaki 8% Honda 2% 5% 8% Toyota 36% 5% Yamaha Suzuki 33% Honda 12% 60% Heavy Equipment Others Mitsubishi Daihatsu 2% Isuzu Kobelco 13% 15% 3% 17% Komatsu Source : Gaikindo 41% Source : AISI

Hitachi 22%

Caterpillar 18% Source: United Tractors – Internal Market Research 4 2Q13 corporate actions

• AOP acquired 51% share of PT Pakoakuina (Pako), a wheel rim April player for both 2W and 4W for Rp 700 billion

May • AOP completed right issue of Rp 3.0 trillion, with AI participation of Rp 2.9 trillion

June • AI placed 15.7% of AOP shares at a price of Rp 3,750 to increase the liquidity of the stock, generating Rp 2.8 trillion in gross proceeds

5 Financial Performance 1H13 environment

 Economic conditions continue to support domestic demand, but the Group’s operations are facing increased competition in the car market, higher labour costs and lower commodity prices

 Automotive demand remained favorable, benefiting from rising income, with increasing competition as a consequence of the introduction of additional domestic capacity

 New minimum down-payment requirements in automotive Shariah-financing had a negligible impact on automotive sales in the first-half results; it is too early to determine the impact of the fuel price increase on automotive sales

 Strong financial services performance, benefiting from loan book growth and a favorable credit environment

 Reduced demand in the heavy equipment business due to soft commodity prices. Improved coal mining contracting performance driven by increased mine site capacity

 Increased palm oil production, amidst lower average CPO prices

7 Consolidated income statement

“While the outlook for domestic demand remains positive, it is expected that increased competition in the car market, higher employee costs and lower commodity prices continue to impact results in the second half of the year.” - Prijono Sugiarto, President Director

In Billion Rupiah 1H 2013 1H 2012 Change USD / IDR, average 9,756 9,250 5% Revenue 94,279 95,919 (2%) Gross Profit 16,568 17,915 (8%) Operating Expenses (8,673) (7,923) 9% Other Income 1,292 952 36% Equity Income 3,067 2,937 4% Income Tax Expense (2,125) (2,512) (15%) Non-controlling interest (1,310) (1,691) (23%) Net Income 8,819 9,678 (9%)

8 Astra portfolio for the period 6 months to June 2013

Ownership Share of NI % % 1H 2013 1H 2012 Auto Non-Auto Auto Non-Auto 4W Automotive SO – Toyota, Daihatsu, Isuzu 100 51 28.0 30.5 32 Net income contribution Auto vs. Isuzu Astra Motor Indonesia 45 Non-Auto segments: 2W Automotive 16.6 14.7 Astra Honda Motor 50 2001 2012 1H 12 1H 13 Honda SO 100 Component Auto (Incl. auto 80 5.5 5.2 Astra Otoparts related Financial 89% 64% 65% 69% Financial Services Services) Astra Sedaya Finance 100 Federal International Finance 100 50 19.0 5.3 14.3 4.3 Toyota Astra Financial Services Non-Auto 11% 36% 35% 31% Komatsu Astra Finance 50 SAN Finance 60 Asuransi Astra Buana 96 Permata Bank 45 Heavy Equipment & Mining United Tractors 60 16.0 19.3 Pamapersada Nusantara 60 Agribusiness Astra Agro Lestari 80 6.5 7.9 Infrastructure, Logistics, IT SERA 100 Palyja 49 3.1 3.8 Marga Mandalasakti 79 Astra Graphia 77 9 Consolidated balance sheet

• Astra’s net asset value of Rp 1,854 per share* at 30th June 2013 was 5% higher than at the end of 2012 • Overall net debt at 30th June 2013, excluding financial services subsidiaries, was Rp 6.2 trillion, compared to net debt of Rp 8.9 trillion at the end of 2012. DER (incl. FinSer) was maintained at 47%

In Billion Rupiah 30-Jun-13 31-Dec-12 Change Cash and Cash Equivalents 14,512 11,055 3,457 Trade Receivables 18,502 16,443 2,059 Inventories 14,780 15,285 (505) Financing Receivables 52,045 48,631 3,414 Investments in Associates and Jointly Controlled Entities 21,328 19,801 1,527 Fixed Assets 36,435 34,326 2,109 Other Assets 39,557 36,733 2,824 Total Assets 197,159 182,274 14,885 Short-term Borrowings 10,031 7,202 2,829 Trade Payables 16,224 12,685 3,539 Long-term Debt 49,801 49,555 246 Other Liabilities 25,566 23,018 2,548 Total Liabilities 101,622 92,460 9,162 Equity Attributable to The Owners of The Parent 75,061 71,201 3,860 Non – controlling Interest 20,476 18,613 1,863 Total Equity 95,537 89,814 5,723 Net Debt 45,320 45,702 (382) Net Debt (Excl. Financial Services) 6,166 8,918 (2,752) * Net asset value per share is based on equity attributable to the owners of the parent.

10 Consolidated cash flow

The cash inflow from operating activities for the first-half of 2013 was Rp 12.3 trillion, an increase of Rp 4.3 trillion due to working capital improvement.

In Billion Rupiah 1H 2013 1H 2012 Change Cash from operations 13,094 7,919 5,175 Tax Payments (3,336) (3,096) (240) Interest received 404 365 39 Dividend Received 2,100 2,784 (684) Cash flow from Operating Activities + Dividend Received 12,262 7,972 4,290 Net Capex (4,851) (6,208) 1,357 Net Investment (1,174) (706) (468) Other Investing (152) (347) 195 Cash flow for Investing Activities (6,177) (7,261) 1,084 Net proceed of Debt 2,349 6,793 (4,444) Interest Payment (562) (482) (80) Dividend Payment (7,051) (6,664) (387) Other Financing 2,393 (62) 2,455 Cash flow from Financing Activities (2,871) (415) (2,456) Increase in Cash 3,214 296 2,918 Opening Cash Balance 10,815 13,071 (2,256) Exchange Rate Adjustment 185 93 92 Closing Cash Balance 14,214 13,460 754

11 Business Updates Car Domestic car sales grew by 12%. Astra was able to maintain a leading market position with market share of 53%. 1H12 1H13 535,261 601,952

Others 7.8% Commercial Nissan 5.2% Others 8.9% 169,849 Others Honda 8.2% Commercial 28.2% Commercial Nissan 6.4% 280,768 Others 162,680 34.1% Honda 4.9% 46.6% Suzuki 12.5% 233,626 30.4% Suzuki 9.6% Commercial 43.6% 30.4% Mitsubishi Mitsubishi 12.9% 13.8% Commercial Isuzu 2.7% Commercial Isuzu 3.1% 18.0% Daihatsu 16.4% Daihatsu 14.7% 4x2 & 4x4 15.0% 4x2 & 4x4 415,702 357,164 69.1% 4x2 & 4x4 Astra Astra 4x2 & 4x4 66.7% 321,184 61.6% 301,635 4x2 & 4x4 4x2 & 4x4 79.7% 53.4% 56.4% 80.5% 68.0% Toyota Toyota 37.8% 35.8%

Sedan 3.1% Sedan 2.9% Sedan 59.8% Sedan 2.2% Sedan 2.7% Sedan 43.8% M/S AI Product Brand Segment AI Product M/S AI Product Brand Segment AI Product 1H12 Segment M/S 1H13 Segment M/S

Source: Gaikindo

13 Product launches - car Astra launched 6 new car models and 8 revamped models during the first-half of 2013

All New Avanza Airbag All New Vios All New Xenia Airbag May 2013 May 2013 May 2013

New Peugeot RCZ Isuzu Giga FVZ BMW 320d May 2013 June 2013 June 2013

14 Upcoming models – Astra’s LCGC

Astra Astra Toyota Agya

15 Motorcycle Motorcycle sales grew by 6%, while Honda sales grew by 12.5%, with market share increased from 57% to 60%. 1H 2012 1H 2013 3,702,354 3,923,695 Others 1.8% Others 1.8% Sport/Others Sport/Others Suzuki, 5.3% Sport & Others Suzuki, 6.0% Sport & Others 28.0% 16.3% 17.2 % 12.9% Yamaha, Yamaha, 1,277,781 1,311,323 32.6% 35.4% Sport/Others Scooter Sport/Others 7.6% Scooter 2,176,634 3.9% Scooter 2,498,633 58.8% Scooter 1,409,337 63.7% 1,717,700 Scooter 64.7% Scooter Honda, 68.7% Honda, 1,409,337 1,717,700 67.1% 2,364,297 72.7% 2,101,881 60.3% 56.8% Cub Cub Cub Cub 1,046,459 Cub Cub 784,760 609,932 609,932 28.3% 466,995 466,995 20.0% 29.0% 58.3% 19.8% 59.5% Brand Honda Segment Honda Product Segment Brand Honda Segment Honda Product Segment 1H12 M/S 1H13 M/S Source: AISI

16 Product launches - motorcycle During the first-half of 2013 AHM launched 2 new models and 5 revamped models

Honda Verza Honda Scoopy FI January 2013 February 2013

Vario 125 CBS Idling Stop Supra X 125 R March 2013 April 2013

17 Components • Astra Otoparts, the Group’s 80%-owned automotive components business, reported net income of Rp 519 billion, a decrease of 2%, of which 71% was from associates and jointly controlled entities • The 19% increase in revenue was offset by higher labour costs

Revenue (IDR billion) Net Income (IDR billion)

(2%) 528 519 19% 4,961 Export 4,162 8% Export 6% 8% 8% After 371 371 After 40% Market 40% Market 25% 29% OEM OEM 67% 65% 52% 52% 157 147

1H 2012 1H 2013 1H 2012 1H 2013 Export After Market OEM Equity Income Consolidated

18 Financial services Net income from the financial services businesses grew by 19% to Rp 2.1 tn, driven by loan book growth

Unit Financed 1H 2013 1H 2012 % Asuransi Astra Buana ACC 95,047 85,645 11 TAFS 32,124 28,269 14 • 1H 2013 Gross Written Premium up by Auto 22% year on year to Rp 1.9 trillion Total 4W 127,171 113,914 12 FIF 860,135 798,352 8 • RBC : 201%, requirement 120% SANF 1,479 2,261 (35) HE KAF 199 228 (13) Total HE 1,678 2,489 (33) Bank Permata • 1H 2013 consolidated net income increased Amount Financed (Rp bio) 1H 2013 1H 2012 % ACC 13,056 12,398 5 by 15% to Rp 818 billion TAFS 4,883 4,287 14 • Loan book grew by 27% to Rp 107.3 trillion Auto Total 4W 17,938 16,685 8 • LDR 91.8% & CAR 15.6% FIF 9,878 9,603 3 Total Auto 27,816 26,288 6 • Net-NPL ratio were down from 0.5% to 0.4% SANF 1,663 2,899 (43) HE KAF 907 1,533 (41) Total HE 2,571 4,432 (42) * Incl. Joint Financing 19 Heavy equipment & mining United Tractors, 59.5%-owned, reported net income down 25% to Rp 2.3 trillion, mainly due to lower heavy equipment sales Revenue (Rp bio) Mining Contracting 30,610 3,519 24,901 1,981 12,926 414.5 14,436 407.3 14,165 50.1 8,484 44.5

1H 2012 1H 2013 1H 2012 1H 2013 Construction Machinery Mining Contracting Mining Coal Production (mn tonnes) Overburden Removal (mn bcm) Komatsu Unit Sales Coal Mines: Reserves and Sales

4,231 Est. Combined Coal 3,046 13% Reserves (Mio Tons) 21% TTA 33 1,555 2,169 6% 2,452 PMM 8 23% ABP 9 1,459 21% ABB/ABJ 84 60% 8% DS/DN 45 1,491 48% BEE 200 710 1H 2012 1H 2013 PJU 45 1H 2012 1H 2013 Total 424 Mining Forestry Agro Construction PMM Mines TTA Mines (all in thousand tonnes)

20 Agribusiness • Astra Agro Lestari, 79.7%-held, reported net income of Rp 717 billion • Despite palm oil production increasing 11% to 704 thousand tonnes, revenue decreased 3% to Rp 5.5 trillion, due to 16% lower average crude palm oil prices achieved at Rp 6,638 per kg

Revenue (Rp bio) CPO Yield (tonne/Ha) 5,647 104 5,495 100 Export 5,543 2.29 2.25 Local 5,395

1H 2012 1H 2013 1H 2012 1H 2013

CPO Production & Sales (‘K tonnes) Area Maturity (‘K Ha) * 275 267

37 30 Immature 752 704 Mature 636 644 237 238

1H 2012 1H 2013 1H 2012 1H 2013 Production Sales * Incl. plasma plantation 21 Infrastructure and logistics

• Marga Mandalasakti, Tangerang – Merak 72.5km toll road operator, reported an 11% increase in TRAC Rental Car (unit) traffic volumes to 20 million vehicles • PAM Lyonnaise Jaya, the western Jakarta water utility system, reported a modest decrease in sales volume to 78.2 million cubic metres 30,658 31,223 • Serasi Autoraya’s revenue improved, supported by a 2% increase in vehicles under contract at its TRAC car rental business to over 31,000 units, however profit declined on higher depreciation 1H 2012 1H 2013 and operating costs

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

78.5 78.2 17,907 19,958

1H 2012 1H 2013 1H 2012 1H 2013

22 Appendices Divisional revenue and net income Divisional Revenue In Billion Rupiah 1H 2013 1H 2012 % Chg Automotive 53,208 49,675 7% 4W 39,851 38,374 4% 2W 8,422 7,165 18% Components 4,935 4,136 19% Financial Services 6,707 6,168 9% Heavy Equipment 24,864 30,506 (18%) Agribusiness 5,495 5,647 (3%) Infrastructure & Logistics 3,105 3,095 0% Information Technology 900 828 9% Total 94,279 95,919 (2%) Divisional Net Income In Billion Rupiah 1H 2013 1H 2012 ∆ Automotive 50.1% 50.4% (0.3%) 4W 28.0% 30.5% (2.5%) 2W 16.6% 14.7% 1.9% Components 5.5% 5.2% 0.3% Financial Services 24.3% 18.6% 5.7% Heavy Equipment 16.0% 19.3% (3.3%) Agribusiness 6.5% 7.9% (1.4%) Infrastructure & Logistics 2.5% 3.3% (0.8%) Information Technology 0.6% 0.5% 0.1%

24 Car products launched in 1H13

Models Launched Launching Time Engine Capacity Prices (IDR mn) Car LS 460 L Jan-13 4,600cc 2,300 Lexus LS 600 HL Jan-13 5,000cc 2,900 BMW X1 sDrive18i Business Jan-13 2,000cc 499* BMW X1 sDrive18i xLine Jan-13 2,000cc 559* BMW X1 sDrive20d Sport Jan-13 2,000cc 649* Isuzu NQR 71 Feb-13 125ps 287.5 BMW M 135i Feb-13 3,000cc 888* Valco Mar-13 1,200cc 139.5-169.5 Toyota All New Avanza Airbag May-13 1,300cc-1,500cc 155.5-193 Toyota All New Vios May-13 1,500cc 242.5-272.5 Daihatsu All New Xenia Airbag May-13 1,000cc-1,300cc 133.1-185.8 Peugeot New RCZ May-13 1,600cc 689.1* Isuzu Giga FVZ Jun-13 7,800cc 788.5 BMW 320d Jun-13 2,000cc 659* *Off the road

25 Motorcycle products launched in 1H13

Models Launched Launching Time Engine Capacity Prices (IDR mn)* Motorcycle Honda Verza Jan-13 150cc 16.1 – 16.9 Honda Revo Series Jan-13 110cc 13 Honda Vario Feb-13 110cc 14.6 Honda Scoopy FI Feb-13 110cc 13.9 Honda Spacy FI Mar-13 110cc 13.2 Honda Vario 125 CBS Idling Stop Mar-13 125cc 16.4 Honda Supra X 125 R Apr-13 125cc 14.9-15.9

26 National market data (summary) 1H 2013 1H 2012 Major Brands Wholesale Astra Wholesale Astra Toyota - Vios/Limo, Camry, Altis ; Honda - City, Sedan 16,401 43.8% 15,417 59.8% Civic, Accord; Mercedes - E Series, C Series Toyota - Avanza, Innova, Rush, Yaris: Daihatsu - Xenia, Terios, Gran Max; Nissan - Grand 4X2 & 4X4 415,702 61.5% 357,164 68.0% Livina, March, Evalia; Suzuki - Ertiga, APV, Swift; Honda - Jazz, CR-V, Freed; Mitsubishi – Pajero Sport, Mirage, Outlander Sport Car Mitsubishi – Canter, L-300, Strada; Suzuki – Carry; Pick Up/ Trucks/ Bus 162,248 33.5% 154,844 29.8% Daihatsu – Gran Max; Isuzu – Elf, Panther, Giga; Toyota – Dyna ,,Hi-Lux, Hi-Ace Toyota – Hilux; Mitsubishi – Strada; Ford – Ranger; Double Cabin 7,601 37.4% 7,836 41.4% Isuzu – D-Max Total 601,952 53.4% 535,261 56.4% Honda - Supra X 125, Revo Series, Blade; Yamaha - Cub 784,760 59.5% 1,046,459 58.3% Jupiter MX, Vega RR, Jupiter Z; Suzuki – Smash Titan, Shooter, Shogun Axello 125 Honda - BeAT, Vario, Scoopy; Yamaha - Mio, Xeon, Scooter 2,498,633 68.7% 2,176,634 64.7% X-Ride; Suzuki – Nex, Hayate, Let’s Yamaha - V-ixion, Byson, Scorpio Z; Honda - CB 150

Motorcycle Sport & Others 640,302 28.0% 479,261 17.2% R, Verza, New Mega Pro; Suzuki - Satria F 150, Thunder 125 Total 3,923,695 60.3% 3,702,354 56.8%

Source: Gaikindo

27 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]

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