PGN Business and Operations Update

Strong Cash Balance Positive cash-flow Maintaining DER stable (less than 1) Financial Performance Financial Ratios EBITDA Margin (%) EBITDA / Interest Expense (x) Debt (Interest Bearing Debt)/Equity (%) 30 September 2018 28.7 7.33 74.5 30 September 2017 29.2 5.91 76.1 30 September 30 September Cash Flow (In Million USD) 2018 2017 Beginning Balance 1.026 1.304 Total Loan USD 2.48 Billion Weighted Average Interest Rate 4.36% (Excl. Tax) ■Fixed 95% Float 5% 0 USD 86% JPY 14% As of 30 September 2018 Cash flow from operating 620 546 Credit Rating Rating Outlook Cash flow from investment 26 (232) Moody's Baa2 Stable Cash flow from financing 18 (662) Standar & Poor's BBB- Negative Fitch Ratings BBB- Stable Foreign Exchange Impact (39) Pefindo idAAA Stable Ending Balance 1.651 956 7

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