Investor Presentaiton

Introduction Despite Covid-19 challenges, South-east Asia's only G20 economy is expected to recover from 2021 onwards Indonesia posted annual pre-pandemic growth of around 5%, with a rebound expected from 2021* Real GDP value ($ bn) 1500 1200 900 600 300 0 -300 -600 2015 2016 ཡ 2017 • Real GDP growth (% change) 10 8 6 4 2 0 -2 -4 2018 2019 2020 2021F 2022F 2023F 2024F 2025F *October 2021 IMF forecast Indonesian government's focus areas for 2022: • Control Covid-19 transmission while prioritising health sector • Maintain social protection programmes for the vulnerable Strengthen fiscal decentralisation for inter-regional equality Implement zero-based budgeting to: encourage more efficient spending, strengthen synergies among central and regional governments, focus on priority and results- based programmes, and hedge against uncertainty Total population, 2015-26F (m) 2016 2017 2018 20.7% 2019 2020 2022F 13.2% 2024F 2026F 7.8% . 12.7% 0 100 200 300 Other 10.8% • Refine agenda to develop competitive human capital Continue infrastructure development and technological adaptation Contribution to GDP by sector, Q1 2019 Manufacturing Wholesale & retail Trade Agriculture, forestry & fishing Construction Mining & quarrying 35.5% 4.6% growth Growth potential Indonesia enjoyed annual GDP growth of around 5% over 2015- 19, on the back of robust domestic consumption, and ongoing efforts to reform policy and simplify investment procedures under President Jokowi. This trajectory was halted by Covid- 19-related pressures during 2020, with a 2.1% contraction for the year. Nevertheless, the IMF's latest forecast from October 2021 suggests 2021 GDP will exceed the 2018 figure, to be followed by 5.8% growth in 2022. President Jokowi has placed human capital development at the forefront of his second-term agenda for 2019-24. Alongside accelerated digital transformation from 2020, this should help the sizeable, expanding population unlock productivity-driven growth in key economic sectors. PwC OBG ESG Report O OXFORD BUSINESS GROUP Sources: Bl; Bloomberg; IMF; World Bank 7

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