Investor Presentaiton

2022 BUDGET POSTURE Fiscal deficit of 4.85% of GDP with flexibility to anticipate uncertainties 2019 2020 2021 2022 Account (IDR T) Proposed Audited Audited Growth (%) Outlook Growth (%) Budget Growth (%) State Revenue* 1,960.6 1,647.8 (16.0) 1,735.7 5.3 1,840.7 6.0 Tax Revenue 1,546.1 1,285.1 (16.9) 1,375.8 7.1 1,506.9 9.5 Non Tax Revenue 409.0 343.8 (15.9) 357.2 3.9 333.2 (6.7) State Expenditure 2,309.3 2,595.5 12.4 2,697.2 3.9 2,708.7 0.4 Central Government 1,496.3 1,833.0 22.5 1,927.0 5.1 1,938.3 0.6 Expenditure Regional Transfer & 813.0 762.5 Village Funds (6.2) 770.3 1.0 770.4 0.02 Primary Balance (73.1) (633.6) 766.8 (595.3) (6.0) (462.2) (22.4) Surplus (Deficit) (348.7) (947.7) 171.8 (961.5) 1.5 (868.0) (9.7) % to GDP (2.20) (6.14) (5.82) (4.85) Financing 402.1 1,193.3 196.8 961.5 (19.4) 868.0 (9.7) MACROECONOMIC ASSUMPTIONS Economic Growth Inflation Exchange Rate 10-year T-Bonds Rate ICP (USD/barrel) 55-65 Oil Lifting ('000 barrels per day) 680-705 ('000 barrels oil Gov't Revenue IDR 1,840.7 T ☐ Tax Revenue is projected at IDR 1,506.9 T supported by sustained recovery and gain from the tax reform. ☐ Non-tax revenue is expected at IDR 333.2 T owing to recurring non-service revenue and optimization government share of oil and gas revenue. Gov't Expenditure IDR 2,708.7 T Directed to support health care, social protection and economic recovery □ Central government expenditure IDR 1,938.3 T, of which: - Expenditure reserve IDR 61.8 T - Health spending and vaccination in PEN Program IDR 44.0T ☐ Transfer to Region and Village Funds IDR 770.4 T Gas Lifting equivalent per day) 987-1,007 Deficit and Budget Financing IDR 868.0 T (decreased by 9.7%) Fiscal deficit is expected at 4.85% of GDP Financed with efficient and prudent financing sources, including the use of financing surplus (SAL) 2021 Outlook 3.7-4.5% 1.8-2.5% 14,200-14,600 6.34-7.24% 2022 As agreed with Parliament 5.2% 3% 14,350 6.80% 63 703 1,036

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