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Investor Presentaiton

Proposed 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
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