#1INVESTOR PRESENTATION Consolidated 12M-2018 Update pgn energy for life A member of Pertamina#2DISCLAIMER The information contained in our presentation is intended solely for your personal reference. In addition, such information contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on assumptions subject to various risk. No assurance can be given that further events will occur, that projections will be achieved, or that the Company's assumptions are correct. Actual results may differ materially from those projected. ABOUT PGAS PT Perusahaan Gas Negara Tbk (IDX:PGAS) is an Indonesia-based, publicly listed company engaging in integrated gas business. Previously established as a State-Owned Company (SOE), PGAS has been officially acquired by PT Pertamina (Persero) to become its subsidiary since 11 April 2018 as part of Government of Indonesia's Oil & Gas Holding initiatives. With the acquisition of 51% stake in PT Pertamina Gas (and its subsidiaries), PGAS has formally been the Gas Sub-holding Company since 28 December 2018. HEADQUARTER JI. K.H. Zainul Arifin No. 20 Jakarta, Indonesia Website: www.pgn.co.id Investor Relations Contact: PT Perusahaan Gas Negara Tbk Mid Tower Manhattan 26th Floor Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia Email: [email protected] Phone: +62 21 8064 1111 pgn 2#3Company Introduction Type Index Founded Headquarter Public IDX:PGAS 13 May 1965 Jakarta Gigih Prakoso CEO Industry Gas Transmission and Distribution pgn VISION Becoming the International Standardized Solution for the Utilization of Gas and the Sustaining Energy Fulfilment Group Structure MISSION We are committed to: ■ Provide and develop gas utilization for public and public interest Implementing responsible and sustainable corporate governance principles Carry out other business to support the use of gas and sustainable business management. Subsidiaries 9 Total Assets USD 8 Billion (2018) No. Employees 974 (2018) Saka Energi Indonesia 99.99% Notes: 309 Subs Secondees Saka Saka Saka Saka Indonesia Energi Energi Energi Pangkah Sumatera Wokam Muriah Saka Saka Saka Saka Energi Ketapang Indonesia Bangkanai Fasken LLC Perdana Sesulu Klemantan Saka Energi Sanga Bangkanai Sanga Saka Energi Barat Saka Energi Muara Bakau 100% 56.96% PGN LNG Indonesia 99.99% Gagas Energi Indonesia Widar 99.88% PERTAMINA THE REPUBLIC OF INDONESIA PT Nusantara Regas 40% Pertamina Gas 51% Pertagas Niaga Perta Perta Daya Gas Arun Gas Perta Samtan Gas Perta Kalimantan Gas 1 SERIE A pgn energy for life PT Transportasi Gas Indonesia 59.87% PUBLIC 43.04% PT PGAS Telekomunikasi Nusantara 99.93% PT Permata Graha Nusantara Telemedia Dinamika Sarana PGAS International Kalimantan Perkasa Jawa Gas 99.98% PT PGAS Solution Sena 99.91% fan A nen SOL LUTION pgn SOLUTIO 3#4Business Coverage & Infrastructures Downstream Business Operating in 3 Major Coverage Area, 39 cities and regencies (12 provinces) in Indonesia Transporting and Distributing Gas ±3,069 MMSCFD Gas Infrastructure Total gas pipeline network of ± 9,916 km covering 14 provinces and 55 regencies Upstream Business ■ 2 FSRUS + 1 land-based regasification terminal ■ 12 Gas Fueling Stations, 4 MRUS ☐ " 2 Processing plant (stripping and compression) Total assets 11 blocks (6 blocks in operation, 5 blocks in exploration) Oil and gas lifting ±39,213 BOEPD Oil Transportation Business ■ Oil transportation volume by Pertamina Gas in 2018 reached ±10,173 barrels. Distribution Business Buying and selling gas to customers through pipeline infrastructure in three main areas in West Java, East Java Arun Regasification Terminal Arun Medan and North Sumatera. Transporting gas of customers; suppliers or off-takers through pipeline. The pipeline can also be function as the backbone to distribution pipeline. Upstream Business Taking business Pekanbaru Transmission Business SUMATERA Investing participating interest in PSC and operating oil and gas blocks to support Indonesia production and lifting Other opportunities along the Supporting Business natural gas value chain; LNG, CNG, related gas business services, fiber optic and asset management Oil transportation business activities carried out by Pertamina Gas by operating the Tempino- Plaju oil pipeline. Jambi KALIMANTAN Tarakan Bontang Samarinda Balikpapan Gas Processing Business • · Production of LPG in 2018 (incl. PSG) ±588 MTPD LNG Regasification by PAG in 2018 +125 BBTUD pgn PAPUA Sorong MALUKU SULAWESI Palembang Band: LPG Gas Processing wwwwFSRU Lampung ampung FSRU Jawa Barat ak CNG Compressing Band Semarang INDONESIA BAGIAN TIMUR JAWA Pipeline Network Distribution 5.343 km Transmission 4.573 km Legend PGAS Pipelines PTG pipelines Future pipelines PGAS' FSRUS PGAS' Distribution Area PTG Processing Plant Oil Transportation Key Pipelines Gas Processing Business Business Gas processing activities Duri - Dumai include the production of 1 Grissik - Duri A Liquefied Petroleum Gas Prabumulih and Jambi Gas Distribution Network 2 Grissik - Batam - Singapore B (LPG) and LNG Regasification by 3 South Sumatra - West Java C Pertagas Subs Bontang, Simenggaris - Bunyu, Muara Badak - Balikpapan LNG Facility 4 Kalija D Bojanegara - Muara Karang E Gresik - Semarang 4#5Upstream Assets • • Bangkanai PSC Location: onshore Kutei basin Participating Interest: 30% Operator & Partner: OPHIR (70%) Expiry: Dec 2033 • Muara Bakau PSC Location offshore Kutei basin Participating Interest: 11.666% Operator: ENI (55%) Partners: Engie (33.334%) • Expiry: Dec 2032 Pekawai PSC Location: Kutei basin Participating Interest: 100% Operator: PGN Saka Expiry: May 2048 West Bangkanai PSC Location: onshore Kutei basin Participating Interest :30% Operator & Partne: OPHIR (70%) Expiry: May 2043 Kutei Hub Southeast Sumatra (SES) PSC Location offshore south east Sumatra Participating Interest: 8,91% Operator: CNOOC (66%) • Partners: Pertamina (20%), KUFPEC (5%) • Java Sea Hub Muriah PSC Location: offshore Java sea Participating Interest: 20% . Operator & Partner: Expired on 5 September 2018 Petronas (80%) . Expiry: 2021 Sanga Sanga PSC Location: onshore Kutei basin !• Participating Interest: 37.8125% I Joint Operatorship: VICO (Joint PGN Saka & ENI) Partner: CPC (20%) & Japex (4.4%) Expired on August 7, 2018 L West Yamdena PSC Location: offshore Maluku Participating Interest: 100% • Operator: PGN Saka Expiry: May 2048 • • • | I South Sesulu PSC Location: offshore Kutei basin Kepemilikan: 100% . International Asset Fasken pgn Location: Webb County, Texas Participating Interest: 36% Operator & Partner: Swift Energy (64%) • Expiry: 2050 • Pangkah PSC Location: offshore East Java • • Participating Interest: 100% • . Operator: PGN Saka • Expiry: May 2026 Ketapang PSC • Location: offshore East Java Participating Interest: 20% Operator & Partner: Petronas (80%) Expiry: June 2028 • Operator: PGN Saka • Expiry: June 2039 Wokam II PSC • Location: offshore Papua Participating Interest: 100% Operator: PGN Saka Expiry: Dec 2040 Production Exploration Development/ Discovery 5#6Million USD 12M-2018 Highlights 5.000 4.000 3.000 2.000 1.000 3.870 3.571 Consolidated Statement of Comprehensive Income 2.561 2.389 | 2017* 2018 1.310 1.201 1.181 645 1.083 515 305 197 Revenues Cost of Revenues Gross Profit Operating Income Net Income EBITDA Revenue Contribution Million USD Consolidated Statements of Financial Position pgn 10.000 8.000 6.000 8.183 7.939 5.948 5.466 4.000 2.474 2.236 2.000 Current Assets 2017 2018 4.737 3.133 3.873 4.310 3.202 3.031 1.605 842 Non Current Total Assets Current Non Current Assets Liabilities Liabilities Total Liabilities Total Equity 79% 15% 6% Distribution & Upstream Others Transmission EBITDA Contribution DOWNSTREAM Distribution Volume 967 MMSCFD (YOY up 8%) (Incl. Pertagas) Transmission Volume 2,101 MMSCFD (YoY up 1%) (Incl. TGI, KJG & Pertagas) UPSTREAM Overall net lifting ±39,213 BOEPD (YoY down 2%) Oil 7,840 BOEPD Gas 115 BBTUD • LNG 60 BBTUD 66% Oil Transportation Volume 34% 10,173 BOEPD (YoY up 10%) Distribution & Others Upstream *) As restated Gas Processing Volume Regasification 125 BBTUD (YoY up 8%) LPG Processing (Incl. PSG) 588 MTPD (YOY up 5%) LPG 95 MTPD INFRASTRUCTURE Pipeline Network ±9,916 km (+233 km of pipeline - PGN) (+2,230 km pipeline - PTG) Strengthening Growth ■ Stronger Distribution Volume by 8% (YOY) Increasing Revenue, EBITDA & Net Income Integrated core business to sustain growth IMPACT OF MACROECONOMY Improving Indonesia's economic growth Weakening Rupiah against US Dollar Tightening Government's Policy Higher oil price 6#7Financial Performance Steady Cash-Flow Positive cash Maintain effective balance Financial Ratios EBITDA Margin (%) EBITDA / Interest Expense (x) Debt (Interest Bearing Debt)/Equity (%) Cash Flow (In Million USD) cash-flow 31 December 31 December 2018 2017* 31.0 30.3 7.83 6.40 13% 109.43 65.13 31 December 31 December 2018 2017* 1.140 1.449 Total Loan USD 3.527 Billion Weighted Average Interest Rate 4.96% (Excl. Tax) 0 pgn USD JPY 70% IDR Fixed Float 10% 20% 0 Beginning Balance 87% Cash flow from operating 919 729 Cash flow from investment (724) (319) Credit Rating Rating As of 31 December 2018 Outlook Moody's Baa2 Stable Cash flow from financing (11) (699) Standar & Poor's BBB- Negative Foreign Exchange Impact (10) (19) Fitch Ratings BBB- Stable Pefindo idAAA Stable Ending Balance 1.315 1.140 *) As restated 7#8Contribution - Distribution Reaching New Heights Distribution Volume 1000 Year-on-Year Basis +8% 967* 950 898 865 900 824 850 802 803 800 750 (MMscfd) 700 650 • High power consumption by 19% (YoY) • Sustainable industry recovery by 2% (YoY) . Natural gas more competitive against all oil products Industrial Consumption of Total Sales Volume Notes: *) In 2019, PGN is going to adjust its consolidated distribution volume by 38 MMScfd as non-facilities gas traders will be prohibited in accordance with the Ministerial Decree of Energy and Mineral Resources No. 6/2016 comes into effect Number of Customers As of 31 December 2018 600 550 500 2013 2014 2015 2016 2017 2018 Wood 0,03% Lifting Oil 1 0,2% Cement ■ 0,3% CNG 1% Textile 2% Basic Metal 3% Others 3% Paper 4% Glass 4% Fabricated Metal 5% Food 8% Ceramic 8% Chemical 12% Pertagas Customers 13% Power Plant pgn Natural Gas Price vs Other Alternative Fuels PGN Average Natural Gas - avg PGN 8 Selling Price LPG 3 kg (Subsidized) 9,11 +15% MFO 180 18,44 +133% 19,89 +151% 20,03 +153% IDO/MDF/MDO 21,41 +170% Gasoline 88 19,83 +150% LPG - 12 kg 22,45 +170% HSD 24,38 +208% Five Biggest Segments 35% Commercials, Industries and Power 99.6% of total sales volume 2,290 Customers (+48 customers) Households and Small Businesses 0.4% of total sales volume 220,053 Customers (+26.074 customers) LPG - 50 kg Kerosene Exchange Rate IDR/USD: 13,548 (as of 31 December 2018) USD/MMBTU 8#9Contribution - Downstream Transmission pgn Increasing TGI, PGN & Pertagas Volume Higher Transmission Volume by 1% (YoY) Decreasing KJG Volume Year-on-Year Basis 1% 2100 2.078 2.101 Transmission Volume 1900 Operated by PGN Total Length: ±1,077km (incl. SSWJ) Off-taker: PLN, BBG Gas transported by PGN to PLN Medan & Jambi Merang increased 17 MMScfd from 8 MMScfd 25 MMScfd Operated by TGI ■ Total Length: ± 1,000 km ■ Off-taker: CPI, Gas Supply Pvt. Ltd., PGN, PLN Total Volume: 654 MMScfd Gas transported by TGI to off-taker in Singapore and Batam increased 5 MMScfd from 649 to 654 MMScfd. 1700 1500 1300 (MMscfd) 1100 854 852 789 900 795 700 500 2013 2014 2015 2016 2017 2018 Operated by KJG ■ Total Length: ± 200 km (Kepodang- Tambak Lorok) ■ Off-taker: PLN ■ Volume 47 MMScfd Gas transported from Kepodang field operated by Petronas through Kalimantan - Java pipeline decreased 29 MMScfd from 76 to 47 MMScfd due to declining reserve from supplier Operated by Pertagas ■ Total Length: ± 2,2230 km (spread across North Sumatra, South Sumatra, West Java, East Java, and East Kalimantan) ■ Volume 1,375 MMScfd, increased 30 MMScfd. 9#10Contribution Lower Lifting Upstream Oil and Gas Lifting 40,186 boepd 39,213 boepd Volume Dec-17 5.540 -2% 10.391 23.909 19.881 1.742 1.101 8.995 7.840 Substantial LNG increase from Muara Bakau Lower Pangkah production due to facility repair Unexpected declining from Muriah Expiry of Sanga-Sanga PSC in August 2018 & SES PSC in September 2018 Crude Oil & Condensate (MMBBL) SES Muara Bakau Pangkah Ketapang Sanga-Sanga Bangkanai Dec-18 Dec-17 Dec-18 0,09 Dec-17 0,60 Dec-18 0,37 Dec-17 Dec-18 Dec-17 Dec-18 Dec-17 0,59 Dec-18 0,42 pgn Gas (BBTU) 1,03 1,07 Ketapang SES Pangkah Dec-17 Dec-18 LNG (BBTU) 16.654 12.130 Dec-17 1.315 Dec-18 1.097 Dec-17 2.349 Sanga-Sanga Muara Bakau Dec-17 5.730 Dec-18 20.019 Dec-17 5.999 Dec-18 1.979 Dec-18 2.622 1,06 0,92 Muriah Dec-17 5.066 Total LNG Lifting 12M-2017 11.729 12M-2018 21.999 Dec-18 3.102 Bangkanai Fasken Dec-17 19.468 LPG (MT) Dec-18 19.598 Dec-17 1.591 Dec-18 1.825 Sanga- Sanga Dec-17 4.172 Dec-18 1.714 Sanga-Sanga Pangkah Dec-17 52.040 Dec-18 33.113 Dec-17 2.763 Dec-18 1.527 2017 2018 Total Crude Oil Lifting 12M-2017 12M-2018 3.28 2.86 Total Gas Lifting ■LNG Gas ■LPG ■ Oil 12M-2017 12M-2018 50.615 42.087 Total LPG Lifting 12M-2017 12M-2018 54.803 34.640 10#11Infrastructure & Market Development ■ Market development by construction ☐ of distribution backbone Delivering gas to RD by developing pipeline or modifying system in station ■ Customer attachment to build acccess until last mile Customer Attachment RD III Additional Volume: 1.3 MMscfd Operation: 2018 Market Development in Dumai 16"& 24" 119 km Potential of 95 MMscfd Plan of Operation : 2019 Market Development in Purwakarta 8-16" 15 km Potential of 5.38 MMscfd Plan of operation : 2019 Tarakan Market Development in Gresik, Lamongan and Tuban Phase 1: 24"-11.5 km Potential of 21 MMscfd Operation: 2018 Customer Attachment RD II Additional Volume: 2 MMscfd Operation: 2018 Customer Attachment RD I Additional Volume: 6 MMscfd; Operation: 2018 Development of Gas Infrastructure in West Java 6-12": 39 km; Reserved capacity of 14.30 MMscfd Sorong pgn 11#12Government Regulations DOWNSTREAM PIPELINE GAS PRICE EMR Ministerial Regulation (PERMEN ESDM) No. 58/2017 Households & Small Costumers (stipulated by Regulatory Body) Industry and Electricity Provider Weighted Average of End User = Cost of Gas + Infrastructure Management Cost + Trading Cost Infrastructure Management Cost ⚫ Toll fee stipulated by regulatory body • Gas distribution setup by: IRR 11%, 60% utilization/gas allocation & project economics Infrastructure Management Formula = Cost of Service / Volume Cost of Service are: • Asset value • O&M • G&A . Gas Losses • Insurance Gas for Transportation Liquefaction (stipulated by Minister)stipulated • Compression Regasification • Fee LNG/CNG storage & transportation • Tax and levy Trading Cost • Maximum 7% of cost of . gas • The maximum percentage should be shared B2B in extended gas supply chain pgn Implementation Industry and Electricity provider gas price stipulated by Minister of EMR • Prevail for 5 years and open to be evaluated per annum • 18 months grace period from date of signatory (27 December 2017) EMR Ministerial Regulation (PERMEN ESDM) No. 4/2018 Transmission Segment • Based on: gas source, market • and gas infrastructure condition Segment evaluation and appointment stipulated by regulatory body Masterplan of Natural Gas Transmission and Distribution Network Facilities and Supporting Infrastructure for Gas Utilization Minister allow consumer to build and operate an own pipeline gas and facility with consideration of gas source, availability infrastructure and unavailable demand for 5 years • The consumer will not be given gas transportation special right . Transmission Transporter should acquired business permit including owning pipeline and facility Special right of new transmission segment will be awarded in tender mechanism or minister appointment Downstream Gas Business Distribution and Trading Area • The holder of distribution network special right will be given distribution and trading area including gas allocation from tender proposal The special right exclusively for 30 years for new area and 15 years for existing infrastructure owner • Area tender mechanism will consider existing infrastructure and consumer Special right holder can cooperate with other to directly selling gas to end user in sub trading area Non Pipeline Trading Trader using CNG and LNG mode should acquire business permit and owning or controlling the asset • Asset categorized as LNG receiving terminal, regasification unit, compression and decompression facility, gas filling station or else • Non Pipeline Transportation and Storage Permit for transportation and storage including: CNG or LNG transportation, CNG or LNG storage Business licencee have to own or control the facility I 12#13PGAS - Indonesia's Gas Sub-Holding Company Business Scope PERTAMINA Sourcing Strategy ☐ pgn energy for life Legend PGN's business line PTG & Subs business line pgn Sourcing Execution Transmission Distribution Retail and Trading Storage and Processing Support Others Gas Utilities In line with the Government's Oil and Gas Holding strategy, PGN is now the Gas Sub-Holding managing integrated (midstream and downstream) gas businesses Through the acquisition of Pertagas and Subsidiaries, PGN will strengthen its transmission, distribution, processing, retail and trading business lines 13#14Potential Synergies From Transaction Optimizingthe existing infrastructures Alignment of business, pricing, marketing Operational savings (consultants, IT, Building, O&M, etc) Secure new gas supplies from Pertamina . Secure business deals for PGAS Subsidiaries Cost Savings as member of Pertamina Segmentation in the existing areas Penetration of new (domestic & International) markets Increase of gas product sales (LNG, CNG, City gas) PERTAMINA BUSINESS PERTAGAS pgn External Acquisit ALIGNMENT Pertamina & OPTIMIZATION MARIKET CAPTIVE BUSINESS pgn Business inside Pertamina Group: • • Upstream: Crude Oil, Trading/Export/Domestic Refineries, LNG Plant, Production Facilities Midstream: Refineries (total capacity 1.1 Mio bbl/d, Petrochemical Plants, LPG Plants, LNG Shipping Downstream: Distribution through fuel depots and stations; kerosene, gasolene, diesel, HSD, LPG, LNG (~5 MTPA) Pertagas Values: • • About 2,000 km transmission pipeline (2017) About 1,375 mmscfd transmission volume (2017) and 128 mmscfd of distribution volume (2017) Est. Long-term annual volume growth 2% FY17 Earnings of USD141 Mio PGAS Stand Alone: Distribution 800-850 mmscfd with estimate volume annual growth 2% • Transmission volume of ~ 700 mmscfd • Market Cap of~ IDR 51 trillion • Total asset size of US$6 billion Eight Subsidiaries 14#15Proposed Synergy Initiatives until 2022 140 120 Operating Income (in USD Mio) Additional Annual EBIT Contribution (in USD Mio) R Business Alignment & Optimization with Pertagas (ST/MT) Mainly from Pipeline Optimalization for Tanjung Priok and Balongan Others from Optimalization of overlapped customers, Competitive-based pricing alignment, Joint Marketing in Dumai, Takeover of Pertagas' gas allocation from 3rd parties, and Cost Savings (i.e.consulting, legal, IT, land rental, O&M, Trainings etc) By Year 2022 pgn Estimated Synergy Value 2019-2022 $330.48 40-50 40% Cost Savings Additional Operating Income 10-20 15% ~$60M (45%) ~$20M (15%) $12.70 (4%) $317.78 (96%) In long run, the growth of the newly established Sub Holging Gas is depending on . Capturing potential deals inside of Pertamina Groups (at least USD 20 Mio) Business Expansion with full support from Pertamina as O&G Holding (at least USD 60 Mio) Both segments contributes 60% for added value R Captive Markets from O&G Holding (MT/LT) 100 Mainly from Revamping of Oil pipeline with BOT scheme 80 60 R Others from O&M contract in PHE Mahakam, PEP new Supply, Cost Savings Business Expansion in Sub Holding Gas (MT/LT) 50-60 45% Mainly from Develop household gas pipeline with PPP scheme 60 60 Others from Streamlining CNG processing and transportation, LNG retails TOTAL GENERATED SYNERGY VALUES 100-130 40 40 20 20 2018 2019 Business Expansion in Sub Holding Gas (MT/LT) Business Alignment & Optimization with Pertagas (ST/MT) 2020 2021 2022 I Captive Market in O&G Holding (MT/LT) ~$53M (40%) Short-term plan is to align Pertagas Infratrcuture & Business into PGAS to optimize the outcomes of up to USD 53 Mio p.a. or 40% of the total Synergy 15#16PGN's Near Term Growth Plan Strategy 1 Asset and operation optimization particularly in East Java and West Java areas Expansion of distribution business in key markets: • Sumatera (Greater Medan Area & Dumai-Riau) 2019 Targets* Total CAPEX (USDM) Transmission Volume (MMScfd) pgn 460 2,100 2 • Java (Greater Semarang Area – C Java, E Java, &W Java - Distribution Volume 900-950 • Central and Eastern Indonesia (MMScfd) 3 • Gresik - Semarang Upstream Lifting** (BOEPD) 30,000 4 Completion of transmission lines: • Grissik - Pusri Market expansion for LNG business for power and retail sectors Tapping into Central and Eastern Indonesia markets • Retailing LNG 5 Synergy within Pertamina Group and other SOES * Gross Profit/ Unit (USD/MMBTU)*** Including Pertagas 2-2.5 ** Lower due to expiry of Sanga-Sanga & SES in 2018 *** May be reviewed if necessary 16#17Subsidiaries & Affiliates pgn SAKA power to discover pgn LNG born to make it happen pgn GAGAS brings energy to you PERTAMINA GAS Igniting Brighter Future pgn energy for life Transgasindo energy connect synergy NUSANTARA REGAS a joint venture company between PERTAMINA & PGN pgn SOLUTION action for excellence pgn MAS pgn.COM commitment to service always reliable#18Subsidiary - Saka Energi Indonesia Assets Classified by Total Assets¹ 5% of Total Assets comprised from Exploration assets, with one gas discovery in South Sesulu Type pgn SAKA power to discover 5% Private Founded 27 June 2011 Asset maturity South Sesulu PSC Wokam II PSC wwwww.Papus West Bangkanai PSC CC Headquarter Jakarta Pekawai PSC Oh and Dashore East K CEO Tumbur Parlindungan West Yamdena PSC Offshore and C Industry Oil & Gas Upstream Subsidiaries 25 4.9% 0.2% 0.2% 0.03% 0.03% Total Assets No. Employees Website USD 2.6 Billion (2018) 312 (2018) pgn SAKA pgn SAKA ophir pgn SAKA pgn SAKA www.sakaenergi.com Ketapang PSC Jav Pangkah PSC² Ohe Ea Bangkanai PSC Karantan 5.5% 29.6% Muara Bakau PSC Off 7.1% 36.9% Fasken wwwwwwwwwwww 0% 14.4% 1.2% Muriah PSC O 0% Southeast Sumatra P SC* Offshore South East Sumatra Expiring September 2018 Sanga Sanga PSC> Onshore Kalimantan Expiring August 7, 2018 95% 95% of Total Assets comprised from Production assets, 2 PSC's are expiring in 2018 eni ophir pgn SAKA SilverBow power to discover PETRONAS PETRONAS pgn SAKA Operator Business Updates *Notes: Exploration 1. Pangkah PSC has additional upside for near term production and reserve growth potentials through development and exploration. Development 2. Muara Bakau block starts producing by first half 2017. Total production in Q4-2018: 733 MMScfd 3. Sanga-sanga PSC and SES PSC expired in Q3 2018 Production 4. Force Majeure status of Kepodang Field in Muriah PSC due to unexpected declining amount of reserve and lifetime of production is still under reviewed by SKK Migas. SEI has 20% of Pl 5. This year, Saka has appointed to manage two new oil and gas blocks, namely Pekawai Block and West Yamdena Block 18#19Туре Subsidiary PGN LNG Indonesia pgn LNG born to make it happen Private 26 June 2012 LNG Volume 12M-2018 18 BBTud PGN FSRU LAMPUNG FSRU Dimension 294 m LOA 26 PGN FSRU Lampung: Owned by PT Hoegh LNG Lampung Leased for 20 years based on the Amendment and Restatement Agreement of the Original Lease, Operation and Maintenance Agreement dated 17 October 2012 as novated to PT PGN LNG Indonesia Pipeline Spesification 24", API 5L (SAWL) X-65 (PSL 2) Capacity: 1,5 to 2 MTPA Send out rate: 240 MMSCFD Supported by: Tower Yoke Mooring System (TYMS) Owned by PT PGN LNG Indonesia Build by SOFEC, China Seabed: 23 m Height: 48,5 m (from seabed to topdeck of TYMS) TYMS contains two axis joint that allow the vessel to roll and pitch relative to the tower and liquid ballast to provide restoring forces to mooring and the vessel Onshore Receving Facility (ORF) Labuhan Maringgai that is connected to the PGN FSRU Lampung through a 21 km offshore pipeline Off Take Station (OTS) Labuhan Maringgai Supporting fleets in order to support ship-to-ship activity and daily operation of PGN FSRU Lampung FSRU is located approximately close to gas receiving and dividing station Labuhan Maringgai or exactly at the coordinates 5°26'30" S and 150°56'30" E. It is integrated with SSWJ pipeline facility connecting gas sources in Sumatera with the largest potential customers in West Java, Indonesia. Founded Headquarter Jakarta CEO Mugiono Industry LNG Regasification Subsidiaries Total Assets USD 327 Million 2018) m Depth Moulded No. Employees 43 (2018) Website www.pgnlng.co.id 19#20Subsidiary - Gagas Energi Indonesia BUSINESS UPDATES 12M-2018 VOLUME 6 MMSCFD Regional I Regional II Regional III : 10 SPBG & 3 MRU : 1 SPBG & 1 MRU : 1 SPBG & 1 Gas Distribution Network pgn GAGAS Туре Founded Headquarter brings energy to you Private 27 June 2011 Jakarta Sabaruddin Gas Distribution Pekanbaru SPBG Batam SPBG Klender SPBG Lampung SPBG Cilegon SPBG Ancol MRU Gaslink Monas SPBG pgn gasku PGN Pluit MRU Bandung SPBG SPBG Ngagel 24 F Pondok Ungu 34 CEO Industry Gas Downstream Subsidiaries 1 (PT Widar Mandripa Nusantara/WIDAR) USD 78 Million (2018) Total Assets No. Employees Website 85 (2018) www.gagas.co.id BUSINESS PROFILE GEI provides natural gas for electricity, industry, commercial, household, and transportation sector through gas pipeline, CNG and mini LNG, Gas Refueling Stations (SPBG) and Mobile Refueling Unit (MRU) In 2015, GEI establish PT Widar Mandripa Nusantara (Widar) to engage in the services related to the power plant and trading SPBG Serang MRU Grogol SPBG SPBG Grogol Purwakarta MRU Gresik SPBG Sukabumi Gas Distribution Gas Refueling Station (SPBG) MRU 20#21Subsidiary PT Pertamina Gas pgn CEO Туре Founded PERTAMINA GAS Igniting Brighter Future Headquarter Private 23 February 2007 Jakarta Wiko Migantoro PTG and Subsidiaries (Consolidated) 31 Dec 2018 31 Dec 2017 Operational Performance Industry Gas Midstream & Downstream Distribution Vol. (BBTUD) 126 127 Revenue Contribution as of 31 December 2018 Subsidiaries 1. PT Pertamina Gas Niaga 2. PT Perta-Samtan Gas Niaga Gas Transmission Vol. - PTG only (MMScfd) 21% 1,375 1,345 37% ■Gas Distribution 3. PT Perta Kalimantan Gas Oil Transportation Vol. (BOPD) 10,173 9,252 4% 4. PT Perta Daya Gas Total Assets 5. PT Perta Arun Gas USD 2 Billion (2018) Gas Processing (MTPD) 588 566 USD 632 Million LNG Regassification (BBTUD) 125 116 Gas Transmission Oil Transportation ■Gas Processing No. Employees 799 (2018) Website www.pertagas.pertamina.com Gas Compression (BBTUD) Gas Transmission Pipeline (km) 7 5 38% 2,223 2,219 21#22- Subsidiary – Transportasi Gas Indonesia (TGI) Type Founded Headquarter Private 1 February 2002 Jakarta Transgasindo energy connect synergy DURI METERING STATION KP 536.3 Duri v * Chevron Pacific Indonesia ConocoPhillips Grissik Ltd. PLTGU Pekanbaru I, II (COPGL) CPI DSF Generator CPI Cogen PLN Duri SV-1405 PLTGU Teluk Lembu I, II Sungai Pakning Refinery SINGAPORE SV-1403|| Indah Klat By Kondur SV-1402 Paper Mill (IKPP) BSP Bumi Siak Pusako SV-14040 Minas Perawang Regional Office 3 Pekanbaru Kalila Kerinci Baru SV-1401 SV-13060 Kalila Bentu Riau Andalan Paper Mill (RAPP) ★PGN ▼Pelalawan PLTGU RAPP Pangkalan Kerinci - SV-1305 PGN CEO Industry Subsidiaries Total Assets Zuryati Simbolon Gas Transportation RIAU USD 424 Million (2018 Unaudited) PGN No. Employees 276 (2018) Website • Grissik - Duri Pipeline Pipeline Length + 536 km www.tgi.co.id Grissik - Singapore Pipeline Pipeline Length + 470 km BUSINESS UPDATES Transportation volume in 12M-2018: 654 MMscfd Level of infrastructure reliability : 99.96% WEST SUMATERA SV-1304 SV-1303 Ukui Pertamina EP SV-1302 Lirik Rengat Air Molek ▼ SV-1301 SV-1206 Pangkalan Kasai BELILAS COMPRESSOR PIG TRAP Regional Office 2 Belilas SV-1205 Gas Supply Pvt Ltd BATAM ISLAND pgn BATAM ISLAND PLTG Batu Ampar PLTG Sekupang I, I PEMPING METERING PLTD Baloi 4 STATION KP 450 PLTG Batamindo I, II, I PEMPING ISLAND PANARAN STATION PLTD Tanjung Sekuang Regional Office 4 Batam PLTG Kabil I, II, II PLTU Tanjung Kasem PLTG Panaran 1, II, III BDN & PLN SV-1204 Keritang SV-1203 SV-1202 Dusun Mud Lontar Papirus Pulp & Paper Industries (LPPPI) Kuala Tungkal JABUNG COMPRESSOR (PHASE 1) Jabung Petrochina Pelabuhan agang SV-1201 Sakernan South Jambl Block B ConocoPhillips AKERNAN COMPRESSOR PLTGU Sengeti JAMB Sekarov Pertamina South Sumatera SV-1105 PLTD Payo Selincah Telana Aur PLTG Duri Tempino Kecil SV-1104 Regional Office 1 Jambi and Gas Transportation Management SV-1103 Bayung Lencir SV-1102 Gelam Insani Mitra Jambi Merang Pertamina/ Talisman/ PT Pacific Oil & Gas INDONESIA 22#23Joint Venture - Nusantara Regas Туре Founded NUSANTARA REGAS a joint venture company between PERTAMINA & PGN Headquarter Private 14 April 2010 Jakarta M. Taufik Afianto LNG Volume 12M-2018 248 BBTud Operating FSRU Nusantara Regas Satu located in Jakarta Bay as the first LNG Receiving Terminal in Indonesia Regasification capacity: 500 MMscfd. LNG Suppliers: Mahakam PSC and Tangguh PSC Offtaker: PLN Muara Karang CEO Industry LNG Regassification Through FSRU Subsidiaries Total Assets USD 240 Million (2018 Unaudited) No. Employees 56 (2018) Website www.nusantararegas.com MUSANTARA REGAS SATU FSRU JAWA BARAT pgn 23#24Subsidiary - PGAS Solution Type pgn Founded Headquarter SOLUTION action for excellence Private 6 August 2009 Jakarta CEO Industry Subsidiaries Chaedar Engineering 1 (PT Solusi Energi Nusantara/SENA) USD 95 Million (2018) Total Assets No. Employees 294 (2018) Website www.pgn-solution.co.id Line of Business Salala 田 BB 18 pgn Engineering Establish SENA in 2015 to provide engineering services in the O&G industry, including pipeline, mechanical, electrical, geodetic, civil, process & telemetry sectors. Trading A Reliable Partner of Armatury Group, world biggest valve producer. EPC Building city gas pipeline, onshore offshore Kalija gas pipeline, SPBG/Gas Refueling Station gas station upgrading. O&M More than 5,200 km in length of gas pipeline in its operation & maintenance (O&M) 24#25Subsidiary - PGAS Telecommunication pgn.COM Type Founded Headquarter CEO Industry always reliable Private 10 January 2007 Jakarta Dwika Agustianto Information & Communication Technology D Pgas international Kuala Tungkal Jambi SINGAPORE EXCHANGE POP BATAM POP JAMBI Grissik Subsidiaries 2 ■ PGAS International Pte, Ltd (PTI) ■ PT Telemedia Dinamika Sarana (TDS) USD 36 Million (2018) Total Assets No. Employees 103 (2018) Website www.pgascom.co.id PTI provides and develop the network fiber optic for international market and based in Singapore gasnet Pagardewa Palembang EQUINIX pgn PGN SBWC (Singapore Batam Westline Cable) Pemping JLLerend Suprapto BATAM CENTER Simpang kabi JL. Sudirman Jl. Ahmad Yani PANARAN Provide solution of different path traffic to Singapore with the landing point at Jurong Island Terbanggi Besar Labuhan Maringgal Bandar Lampung Kalianda Bojonegara CYBER JAKARTA Anyer TDS with the product brand GASNet provides the internet services for corporate customers to fulfill the business needs. LEGEND TELCO NODE PGNCOM MAIN LINK BACKUP LINK EXISTING 25#26Subsidiary - Permata Graha Nusantara Type pgn MAS Private commitment to service 24 April 2014 Jakarta Founded Headquarter CEO Industry Subsidiaries 2 Baskara Agung Wibawa Property & Facility Management • PT Kalimantan Jawa Gas (KJG) • PT Permata Karya Jasa (Perkasa) Total Assets USD 291 Million (2018) No. Employees 74 (2018) Website www.pgnmas.co.id pgn Facility Management Office & gas station support, warehouse & building maintenance pgn Creating added value on PGN's property assets PERMATA IN NUMBERS Asset Management Real Estate +134.216 M² Building Management Services +87,835 M² Building & Warehouse Maintenance Services pgn Developing gas based industrial & commercial estates and residential housing Developed Residential Area for PGN Group +44 (locations) Gas Station Supports +25 (locations) Temporary Facilities Services Managing ±24 PGN's non- productive assets +159 & 30 (Car & +110 (users) Office Supports Motorcycle) Transportation Services 26#27pgn energy for life A member of Pertamina Investor Relations Contact: PT Perusahaan Gas Negara Tbk Mid Tower Manhattan 26th Floor JI. TB Simatupang Kav. 1-S, Jakarta, Indonesia Email: [email protected] Phone: +62 21 8064 1111