Investor Presentaiton

Indonesia's Economic Growth Projected to Remains Solid and Resilient Supported by Domestic Demand Strong GDP Growth¹ 8.0 IQoQ -YoY 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 -8.0 2016 Q3 Q1 Q3 Q1 Q3 Q1 Q3 2015 2017 2018 4.94 1.60 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 2019 2020 2021 2022 2023 Favourable GDP Growth Compared to Peers² 10,00 Amidst increasing global uncertainty, Indonesia's economic performance remains solid and resilient to global spillover. Entering the second half of 2023, Indonesia's economy grew by 4.94 % (yoy) in the third quarter of 2023, after recorded a 5.17% (yoy) growth in the second quarter of 2023. The economic performance was supported by solid domestic demand. Household consumption growth recorded 5.06% (yoy) in line with increasing mobility, stable purchasing power, and a well maintained of consumer confidence. Meanwhile government consumption contracted by 3.76% (yoy) due to shifting personnel expenditures in Q2-2023. Overall investment recorded a higher growth at 5.77% (yoy), supported by improved construction investment in line with the continued infrastructure development in various regions, including the infrastructure development of Ibu Kota Nusantara (IKN). Nevertheless, exports contracted by 4.26% (yoy), given weaker global economy. Economic growth also supported by sound performance across all economic sectors, particularly the manufacturing industry, wholesale and retail trade as well as construction. Spatially, the highest economic growth was recorded in the regions of Sulawesi-Maluku-Papua (Sulampua), Java, Kalimantan, Sumatera, and Bali-Nusa Tenggara (Balinusra). Robust economic growth is expected to persist in the fourth quarter of 2023, as reflected in a number of early indicators, such as consumer confidence, income expectations and the Manufacturing Purchasing Managers Index (PMI). Overall, economic growth in 2023 is projected in the 4.5-5.3% range before accelerating in 2024 as a corollary of solid consumer confidence, the upcoming general election and ongoing development of national strategic projects (PSN). Bank Indonesia will continue strengthening fiscal- monetary stimulus synergy with macroprudential stimuli to drive economic growth, particularly from the demand side. 2023-2024 Growth Projection *) 6,29 5,88 4,95 5,00 3,25 1,51 0,00 0,66 2012 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Institutions GDP growth 2023 GDP growth 2024 -5,00 2023 Budget 5.3 5.2 Bank Indonesia 4.5-5.3 4.7-5.5 -10,00 Consensus Forecast (December 2023) 5.0 4.9 -15,00 India Indonesia -Italy Philippines Portugal Uruguay World Bank (IEP, December 2023) 5.0 4.9 IMF (WEO, October 2023) 5.0 5.0 ADB (Asian Development Outlook, September 2023) 5.0 5.0 2. 1. Source: Central Bureau of Statistics of Indonesia (BPS), ** Including non-profit household consumption Source: World Economic Outlook Database - October 2023; * indicates estimated figure *) Consensus Forecast number will be given later 38

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