PT ASTRA INTERNATIONAL TBK. Full Year 2016 Results Presentation

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1 PT ASTRA INTERNATIONAL TBK Full Year 2016 Results Presentation

2 Disclaimer 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. 1

3 Highlights Net earnings per share Rp374 5% 56% 74% Auto Market Share Higher Result in heavy equipment and mining as well as agribusiness Significant increase in loan loss provisions reported by Permata Bank For the years ended 31 st December Change Net revenue (Rp bn) 181, ,196 (2%) Net income (Rp bn)* 15,156 14,464 5% Net earnings per share (Rp) % As at 31 st December 2016 As at 31 st December 2015 Change Shareholders funds (Rp bn)** 111, ,043 10% Net asset value per share (Rp)** 2,765 2,521 10% * 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 year ended 31st December 2016 and 2015 as well as the financial position as at 31st December 2016 and 2015 have been prepared in accordance with Indonesian Financial Accounting Standards and are audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants. 2

4 Business Structure Automobile Toyota Daihatsu Isuzu BMW Peugeot UD Trucks Motorcycle Honda Component Astra Otoparts Others AstraWorld Menara Astra Brahmayasa Bahtera Samadista Karya Astra Land Indonesia Astra Modern Land Automobile Astra Credit Other Companies Toyota Astra Finance Motorcycle Federal International Finance Heavy Equipment SAN Finance Komatsu Astra Finance Banking Bank Permata Insurance Asuransi Astra Buana Astralife Construction Machinery United Tractors Traktor Nusantara Mining Contracting Pamapersada Nusantara Coal Mining Tuah Turangga Agung Construction Industry Acset Indonusa Palm Oil Plantation Astra Agro Lestari Olein Refinery Tanjung Sarana Lestari Kreasijaya Adhikarya 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 Water Utility Palyja Sea Port Eastkal Document Solution Astra Graphia IT Solution Astra Graphia Information Technology Office Services Astragraphia Xprins Indonesia 3

5 Market Position as at 31 December 2016 Astra s car market share increased from 50% to 56% and Astra s motorcycle market share increased from 69% to 74%. Komatsu maintained its leading market position with a 32% market share, down from 36% last year. Car Motorcycle Others 44% Toyota 36% Yamaha 23% Suzuki 1% Kawasaki 2% Heavy Equipment Isuzu 2% Daihatsu 18% Sumitomo 4% Others 13% Komatsu 32% Honda 74% Source : Gaikindo Kobelco 14% Source : AISI Hitachi 20% Caterpillar 17% Source: United Tractors Internal Market Research 4

6 Corporate Actions Apr 16 Astratel Nusantara acquired 25% stakes in PT Trans Bumi Serbaraja, a company that operates 30km long Serpong Balaraja Toll Road. Jun 16 Jul 16 Permata Bank completed a rights issue which raised Rp5.5 trillion in order to strengthen its capital base. General contractor Acset Indonusa, a 50.1% subsidiary of United Tractors, completed a rights issue raising Rp600 billion to support its business growth. Astra Agro Lestari completed a Rp4.0 trillion rights issue to strengthen its balance sheet. United Tractors, through PT Karya Supra Perkasa, established PT Supra Alphaplus Handal, a synergy in its construction business in manufacturing and distributing concrete products. 5

7 Corporate Actions Oct 16 Dec 16 PT Astra Land Indonesia, owned 50% by Astra and 50% by Hongkong Land, signed an agreement with a subsidiary of PT Modernland Realty Tbk to acquire and jointly develop a 67-hectare site in Cakung, East Jakarta. UT, through PT Tuah Turangga Agung, signed a Conditional Shares and Purchase Agreement (CSPA) to acquire coal mining company (coking coal) in Central Kalimantan, PT Suprabari Mapindo Mineral. AAL and its subsidiary, PT Eka Dura Perdana, acquired all stakes in PT Mitra Barito Gemilang, a rubber plantation company, rising AAL s total rubber plantation land to 1,700 hectare. 6

8 Financial Performances 7

9 Consolidated Income Statement The Group s underlying trading results for the year were satisfactory with steady progress seen in a number of areas. The outlook for 2017 appears positive with improving economic conditions and the benefit of higher coal prices. - Prijono Sugiarto, President Director - In Billion Rupiah Change IDR / USD, average 13,330 13,458 (1%) Net Revenue 181, ,196 (2%) Gross Profit 36,432 36,710 (1%) Selling, General and Administrative Expenses (18,898) (19,498) (3%) Impairment Losses Related to Mining Properties - (5,255) (100%) Other Income 1,370 3,206 (57%) Shares of Results of Joint Ventures and Associates 3,349 4,467 (25%) Income Tax Expenses (3,951) (4,017) (2%) Non-controlling Interests (3,146) (1,149) 174% Net Income 15,156 14,464 5% 8

10 Astra Portfolio as at 31 December 2016 Share of Net Income (%) Ownership % 4W Automotive SO Toyota, Daihatsu, Isuzu Toyota Astra Motor Astra Daihatsu Motor Isuzu Astra Motor Indonesia 2W Automotive Astra Honda Motor Honda SO Auto Non-Auto Auto Non-Auto Component Astra Otoparts Financial Services Astra Sedaya Finance Federal International Finance Toyota Astra Financial Services Komatsu Astra Finance SAN Finance Asuransi Astra Buana Permata Bank Astra Life Heavy Equipment & Mining United Tractors Pamapersada Nusantara Tuah Turangga Agung Acset Indonusa Traktor Nusantara (20)* Agribusiness Astra Agro Lestari Infrastructure, Logistics, IT & Property Marga Mandalasakti SERA Palyja Astra Graphia Menara Astra Brahmayasa Bahtera Samadista Karya * Permata Bank reported a loss of Rp6.5 trillion in (2015: Permata Bank net income of Rp247 billion). Auto (Incl. auto related Financial Services) % 63% 76% 85% Non-Auto 11% 37% 24% 15% 9

11 Consolidated Balance Sheet Astra s net asset value per share of Rp2,765 at 31 December 2016 was 10% higher than at the end of Net cash, excluding the Group s financial services subsidiaries, was Rp6.2 trillion at 31st December 2016, compared to net cash of Rp1.0 trillion at the end of The Group s financial services subsidiaries had net debt of Rp47.7 trillion, compared to Rp44.6 trillion at the end of In Billion Rupiah 31-Dec Dec-15 Change Cash and Cash Equivalents 29,357 27,102 8% Trade Receivables 19,426 18,088 7% Inventories 17,771 18,337 (3%) Financing Receivables 64,639 60,105 8% Investment in Joint Ventures and Associates 33,987 29,640 15% Fixed Assets 43,237 41,702 4% Other Assets 53,438 50,461 6% Total Assets 261, ,435 7% Short-term Borrowings 18,764 11,975 57% Trade Payables 22,489 20,557 9% Long-term Debt 52,146 58,674 (11%) Other Liabilities 28,550 27,696 3% Total Liabilities 121, ,902 3% Equity Attributable to the Owners of The Parent 111, ,043 10% Non controlling Interest 27,955 24,490 14% Total Equity 139, ,533 11% Net Debt 41,553 43,547 (5%) Net Cash (Excl. Financial Services) (6,193) (1,034) 499% 10

12 Consolidated Cash Flow As at 31 December 2016, Astra s ending consolidated cash balance (incl. Bank Overdraft) was Rp29.4 trillion. In Billion Rupiah Change Cash generated from operations 22,734 31,117 (8,383) Tax Payments (4,706) (6,498) 1,792 Interest Received 1,379 1, Dividend Received 3,820 3, Net Cash flow provided from Operating Activities 23,227 29,453 (6,226) Net Capex (8,368) (7,499) (869) Net Investment (6,263) (2,251) (4,012) Other Investing 13 (954) 967 Net Cash flow used in Investing Activities (14,618) (10,704) (3,914) Net Proceeds / (Repayments) of Debt 2,685 (2,120) 4,805 Finance Costs Paid (2,042) (718) (1,324) Dividend Payments (8,140) (10,585) 2,445 Other Financing 1, ,593 Net Cash flow used in Financing Activities (5,888) (13,407) 7,519 Increase in Cash 2,721 5,342 (2,621) Opening Cash Balance (incl. Bank Overdraft) 27,072 20,728 6,344 Exchange Rate Adjustment (437) 1,002 (1,439) Closing Cash Balance (incl. Bank Overdraft) 29,356 27,072 2,284 11

13 Business Updates 12

14 Historical Domestic Car Sales In 2016, car sales grew due to many new products introduction, mostly coming from Astra s brand. In thousand units Astra Others Lehman Crisis ( 20%) LTV Policy ( 25%) Segment Sedan 6% 6% 5% 4% 3% 3% 3% 2% 2% 1% 4x2 & 4x4 66% 64% 69% 67% 64% 67% 65% 57% 54% 58% Commercial 28% 30% 26% 29% 33% 30% 28% 27% 28% 19% LCGC 0% 0% 0% 0% 0% 0% 4% 14% 16% 22% Source: Gaikindo ,116 1,230 1,208 Weak GDP of 4.79% ( 16%) 1, ,

15 Automotive Wholesale Car Market Astra s car sales were 10% 16% higher at 421, ,000 units, resulting in an increase in market share from 50% to 54%. 56%. 5% ,061,859 1,013,291 LCGC LCGC 235,171 / 22.1% 165,434 / 16.3% Others Other Brands 470,877 / 44.3% 470,877 / 44.3% Others Other Brands Commercial 503,067 / 49.6% Commercial, 503,067 / 49.6% 200,530 / 18.9% 276,627 / 27.3% Isuzu, 16,848 / 1.6% Daihatsu Isuzu, 19,350 / 1.9% 189,683 / 17.9% Daihatsu 167,808 / 16.6% 4x2 & 4x4 Astra 612,835 / 57.7% 590,982 / 55.7% Astra 4x2 & 4x4 Toyota 510,224 / 50.4% 553,808 / 54.7% 382,610 / 36% Toyota 322,466 / 31.8% M/S 2016 Sedan 13,323 / 1.3% Market Segment Brand M/S 2015 Source: Gaikindo Sedan 17,422 / 1.7% Market Segment Brand 14

16 Automotive Car Product Launches In 2016, Astra has launched 14 new models and 9 revamped models. Toyota All New Fortuner January 2016 Toyota Sienta July 2016 BMW i8 August 2016 Astra Daihatsu Sigra August 2016 Isuzu FVR 34 P HD October 2016 Daihatsu Hi-Max November

Historical Domestic Motorcycle Sales Wholesale market for motorcycles decreased by 8% to 5.9 million units in 2016.

In thousand units Astra Others 4,688 2,547 2,141 6,216 3,341 Lehman Crisis ( 6%) 5,852 3,151 2,875 2,701 7,373 3,957 3,416 8,013 3,739 LTV Policy ( 12%) 7,064 2,975 4,274 4,089

17 Historical Domestic Motorcycle Sales Wholesale market for motorcycles decreased by 8% to 5.9 million units in Scooter matic segment continues to dominate the motorcycle market. In thousand units Astra Others 4,688 2,547 2,141 6,216 3,341 Lehman Crisis ( 6%) 5,852 3,151 2,875 2,701 7,373 3,957 3,416 8,013 3,739 LTV Policy ( 12%) 7,064 2,975 4,274 4,089 7,744 3,047 2,816 4,697 5,051 Weak GDP of 4.79% ( 16%) 7,867 6,480 2,026 5,931 1,550 4,454 4, Segment Cub 73% 63% 52% 45% 37% 26% 19% 16% 12% 9% Scooter 18% 26% 39% 46% 52% 60% 63% 68% 75% 79% Sport 9% 11% 9% 9% 11% 14% 18% 16% 13% 12% Source: AISI 16

18 Automotive Wholesale Motorcycle Market Astra Honda Motor s domestic sales were 2% lower at 4.4 million units; however, its market share increasing from 69% to 74%. 8% Kawasaki 1.6% Suzuki 1% Yamaha 1,394, % Sport/Others 8.1% 5,931,285 Sport/Others 49.3% Sport/Others 12.2% Kawasaki 1.8% Suzuki 1.7% Yamaha 1,798, % Sport/Others 6.7% 6,480,155 Sport/Others 34.2% Sport/Others 13.4% Honda 4,380, % Scooter 3,661, % Scooter 3,661, % Scooter 4,688,004 79% Honda 4,453, % Scooter 3,750, % Scooter 3,750, % Scooter 4,688, % Cub 363, % Cub 363, % Cub 522, % Cub 404, % Cub 404, % Cub 522, % Brand 2016 Honda Segment Honda Product M/S Segment Source: AISI Brand 2015 Honda Segment Honda Product M/S Segment 17

19 Automotive Motorcycle Product Launches In 2016, Astra Honda Motor has launched 7 new models and 8 revamped models. Honda CBR150R February 2016 Honda Vario 150 esp February 2016 Honda Supra GTR 150 May 2016 Honda CBR 250 RR July 2016 Honda BeAT Sporty Esp August 2016 Honda CB 150 Street fire August

20 Automotive Components Net income at Astra Otoparts, the Group s component business, increased 31% to Rp418 billion, with higher revenue from its OEM and aftermarket segments combined with higher earnings contribution from its associated companies. Revenue (IDR billion) 9% Net Income (IDR billion) 31% 12,807 10% 42% 11,724 11% 41% % 48% Export After Market OEM Shares of Results of Joint Ventures & Associates Consolidated Income 19

21 Auto HE Financial Services Net income from the Group s financial services businesses in 2016 declined 78% to Rp789 billion. Improved contributions from Federal International Finance, Toyota Astra Financial Services and Asuransi Astra Buana, were more than offset by declines in the Group s other financial services businesses, mainly Permata Bank which recorded a significant increase in loan-loss provisions primarily in its corporate loan book. Unit Financed % ACC (new & used cars) 181, , TAF 81,522 65, Total 4W 262, , FIF (Incl.Electronics) 000 3,475 3, ACC (HE - units) (46) SANF 504 1,799 (72) KAF Total SANF & KAF 795 1,867 (57) Asuransi Astra Higher net income by 1% to Rp923 billion Gross Written Premium down by 5% year on year to Rp4.3 trillion. RBC : 217%, requirement 120%. Amount Financed (Rp bio) % Auto HE ACC (Incl. HE) 27,475 22, TAF 13,481 9, Total 4W 40,956 31, FIF (Incl.Electronics) 32,621 28, Total Auto 73,577 60, SANF 3,053 3,090 (1) KAF* 1, Total HE 4,696 3, Permata Bank 2016 consolidated net loss Rp6.5 trillion (2015: net income Rp247 billion) Loan book decreased by 18% to Rp106 trillion. LDR 81% & CAR 16%. Gross-NPL ratio up from 2.7% at the end of 2015 to 8.8%. * Average exchange rate USD/IDR: 13,330 (2016) & 13,458 (2015) 20

22 Historical Heavy Equipment Market Heavy equipment market in 2016 slightly improved due to better coal price index in the final quarter of the year. 17,360 In Units Others 7,038 3,584 3,454 Komatsu 9,684 5,339 4,345 6,644 3,533 3,111 11,781 6,377 5,404 8,893 8,467 14,421 8,219 6,202 10,252 8,867 6,049 5,354 4,203 3,513 6,844 5,912 3,788 4,663 2,124 2, Market Share Komatsu 49% 45% 47% 46% 49% 43% 41% 40% 36% 32% Caterpillar 22% 23% 21% 16% 18% 19% 19% 18% 22% 17% Hitachi 16% 17% 18% 19% 15% 21% 21% 20% 18% 20% Others 13% 15% 14% 19% 18% 17% 19% 22% 24% 31% Source: UT s internal research 21

23 Heavy Equipment & Mining United Tractors, which is 59.5%-owned, reported net income 30% higher at Rp5.0 trillion due to the absence of an impairment charge on the carrying value of its coal mining properties which affected its 2015 result. Excluding the impact of this, 2016 s net income would have been 22% lower than the prior year. Revenue (Rp bio) Mining Contracting 45,539 1,794 5,124 24,003 8% 49,347 1,357 3,817 30,545 Coal Production 0% OB Removal 8% 14,618 13, Construction Machinery Mining Contracting Mining Construction Contracting Coal Production (mn tonnes) Overburden Removal (mn bcm) Komatsu Unit Sales Coal Mines: Sales 2,181 3% 2,124 48% 10% 14% 46% 36% 14% 21% 30% 29% 6,808 4, Mining Forestry Construction Agro TTA Mine (all in thousand tonnes) 22

24 Historical Palm Oil Production The growth of Indonesia s CPO production is mainly due to the added planted areas by the palm oil producers in Indonesia during commodities boom in In million tonnes Palm Oil Area Mature (Million hectare) Yields (T/Ha) Source : Oil World (as of 16 December 2016) 23

25 Agribusiness Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp2.0 trillion, up from Rp619 billion, due to improved revenue from higher crude palm oil prices and the benefit of the stronger rupiah on the translation of its US dollar monetary liabilities. 14,122 Revenue (Rp bio) CPO Yield (tonne/ha) 8% 13,059 18% 4,700 4,366 Export Local 9,422 8, CPO Production & Sales ( K tonnes) Area Maturity ( K Ha)* CPO Production 11% 1,554 1,737 CPO Sales 3% Immature 266 Mature 258 1,014 1, Production Sales Olein Sales * Incl. plasma plantation 24

26 Infrastructure & Logistics MMS Vehicle Traffic Volume ( K unit) 3% 47,829 46,475 The 72.5km Tangerang-Merak toll road, operated by 79.3%-owned Marga Mandalasakti, saw traffic volume increase by 3% to 48 million vehicles SERA Unit in Contract (unit) 3% 23,853 24,573 Serasi Autoraya s net income increased by 96% to Rp100 billion, due to higher net margins in its car leasing and rental, used vehicle sales and logistics businesses, despite a 3% decline in contracted vehicles in its car leasing and rental business

27 Information Technology Astra Graphia, which is 76.9%-owned, reported a 4% decline in net income to Rp255 billion, despite an increase in revenue mainly due to lower net margins. Astragraphia Revenue (Rp bio) Astragraphia Net Income (Rp bio) 2,713 2,655 4% 7% 41% 39% AGIT 1% 59% 61% AGDS

28 Property Net Income (Rp bio) 47% Net income from the Group s new property division at Rp111 billion was lower than the Rp211 billion achieved in 2015, mainly due to a lower revaluation gain on the Group s Grade A office tower development, Menara Astra Construction continues to progress at the 93%- 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

29 Appendices 28

30 Divisional Net Revenue and Net Income Divisional Net Revenue In Billion Rupiah Change Automotive 94,440 95,434 (1%) Financial Services 17,762 17,074 4% Heavy Equipment & Mining 45,112 49,209 (8%) Agribusiness 14,121 13,059 8% Infrastructure & Logistics 7,189 6,935 4% Information Technology 2,451 2,474 (1%) Property 9 11 (18%) Total 181, ,196 (2%) Divisional Net Income In Billion Rupiah Change Automotive 9,166 7,464 23% Financial Services 789 3,555 (78%) Heavy Equipment & Mining 3,032 2,342 30% Agribusiness 1, % Infrastructure & Logistics % Information Technology (4%) Property (47%) Total 15,156 14,464 5% 29

31 Car Products Launched in 2016 Models Launched Launching Period Engine Capacity Prices (Rp mio) Toyota All New Fortuner Jan 16 2,400cc-2,700cc Daihatsu Sirion Sport Jan 16 1,300cc Toyota Rush Feb 16 1,500cc Daihatsu Terios Feb 16 1,500cc Lexus GSF Mar 16 2,000cc 1,245 Lexus GS Mar 16 2,000cc 1,185 Lexus LX Mar 16 5,700cc 3,015 BMW M2 Apr 16 3,000cc 1,349* Isuzu NMR 71T May 16 4,500cc BMW X1 18i May 16 1,500cc 619* BMW X1 18i xline May 16 1,500cc 659* Toyota Sienta Jul 16 1,500cc BMW i8 Aug 16 1,500cc 3,499* Astra Daihatsu Sigra Aug 16 1,000cc-1,200cc Astra Toyota Calya Aug 16 1,200cc Isuzu MU-X 2.5 VGS Aug 16 2,500cc Isuzu D-MAX 2.5 VGS Aug 16 2,500cc *off the road price 30

32 Car Products Launched in 2016 Models Launched Launching Period Engine Capacity Prices (Rp mio) Isuzu FTR 90 T Oct 16 5,193cc 515 Isuzu FVR 34 P HD Oct 16 7,790cc Isuzu LT1 34 (Big Bus) Oct 16 7,790cc 700 Toyota Vios Oct 16 1,500cc Toyota Yaris Nov 16 1,500cc Daihatsu Hi-Max Nov 16 1,000cc

33 Motorcycle Products Launched in 2016 Models Launched Launching Period Engine Capacity Prices (Rp mio) Honda BeAT POP esp Jan cc Honda CBR 150 R Feb cc Honda CBR 500 R Feb cc 144 Honda PCX 150 Feb cc 39.8 Honda Vario 150 esp Feb cc 20.7 Honda Vario 125 esp Feb cc Honda CB 500 F Feb cc Honda CB 500 X Feb cc 147 Honda CB 650 F Feb cc 235 Honda Supra GTR 150 May cc Honda CBR 250 RR Jul cc Honda BeAT Sporty esp Aug cc Honda CB 150 R Street Fire Aug cc Honda Sonic 150R Aug cc Honda BeAT Street esp CBS Oct cc

34 Motorcycle Car National Market Data Wholesale Astra Wholesale Astra Non LCGC 826, % 847, % LCGC 235, % 165, % Total 1,061, % 1,013, % Cub 522, % 731, % Scooter 4,688, % 4,877, % Sport & Others 721, % 871, % Total 5,931, % 6,480, % Major Brands Toyota Avanza, Innova, Fortuner; Honda HR-V, Mobilio, BR-V, Daihatsu Xenia, Terios, Gran Max Astra Toyota Calya, Agya; Astra Daihatsu Sigra, Ayla; Honda - Brio Satya; Datsun - GO Panca; Suzuki - Karimun Wagon R Honda - Supra Series, Revo Series, Blade; Yamaha Jupiter MX King, Jupiter ZX, Vega Force; Suzuki Smash; Kawasaki - ZX130, Edge Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max, Fino; Suzuki Address, Nex Honda - CB 150 R Street Fire, Verza, CBR 150R, Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson; Suzuki - Satria F 150; Kawasaki Ninja 33

35 Equity Research Contact Details No Brokerage Analyst 1 Bahana Securities Leonardo Henry Gavaza leonardo@bahana.co.id 2 BCA Sekuritas Darmawan Halim darmawan.halim@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 Mandiri Sekuritas Ariyanto Kurniawan ariyanto.kurniawan@mandirisek.co.id 16 Macquarie Capital Securities Jayden Vantarakis jayden.vantarakis@macquarie.com 17 Maybank Kim Eng Securities Isnaputra Iskandar isnaputra.iskandar@maybank-ke.co.id 18 Merrill Lynch Swati Chopra swati.chopra@baml.com 19 MNC Securities Edwin Sebayang edwin.sebayang@mncsecurities.com 20 Morgan Stanley Andri Ngaserin andri.ngaserin@morganstanley.com 21 Nomura Indonesia Elvira Tjandrawinata elvira.tjandrawinata@nomura.com 22 Onix Capital Bagus Hananto bagus.hananto@ocap.co.id 23 Reliance Securities Robertus Yanuar Hardi robertus@reliance-securities.com 24 RHB OSK Securities Indonesia Andrey Wijaya andrey.wijaya@id.oskgroup.com 25 Samuel Sekuritas Akhmad Nurcahyadi akhmad.nurcahyadi@samuel.co.id 26 Trimegah Securities Frederick Daniel frederick.daniel@trimegah.com 27 UBS Securities Indonesia Ronald Liem ronald.liem@ubs.com 28 UOB Kay Hian Securities Stevanus Juanda stevanusjuanda@uobkayhian.com 29 Valbury Asia Securities Budi Rustanto budi.rustanto@valbury.com 30 Yuanta Securities Indonesia Kim Kwi Sjamsudin Kim.kwie@yuanta.co.id 34

36 For further information please contact: PT Astra International Tbk Corporate Investor Relations P: (+62 21) F: (+62 21) E: 35

Group Results 6 months ended 30th June. Net revenue 88,208 92,505 (5) Net income* 7,116 8,052 (12) Net earnings per share (12)

Group Results 6 months ended 30th June. Net revenue 88,208 92,505 (5) Net income* 7,116 8,052 (12) Net earnings per share (12) Page1 28th July 2016 PT ASTRA INTERNATIONAL TBK 2016 FIRST HALF FINANCIAL STATEMENTS PRESS RELEASE Highlights Net earnings per share down 12% at 176 Car unit sales up 4% and motorcycle unit sales up 1%