Investor Presentaiton

Energy Subsidy Has Been Adjusted To Absorb The Global Inflationary Shocks The Government budget has been optimized to absorb the inflationary shock . The energy subsidy has been raised to absorb the inflationary shocks in order to safeguard recovery momentum. Revenue windfall on the back of high commodity prices provides space to absorb the inflationary shocks. However, continue raising energy subsidy will jeopardize fiscal sustainability. The Government decided to raise domestic retail fuel prices which could ease budget pressures, especially in 2023, as the Budget is transitioning toward consolidation. Energy Subsidy Allocation 2022 2023 152 502 (Rp Trillion) 698 2022 Budget 2022 Revised Outlook 2022 649.5* Note: Energy Subsidy Outlook after Fuel Price Adjustment Source: Ministry of Finance Retail Fuel Price Adjustment (Rp/litre) 14,500 (16%) 12,500 10,000 (31%) 9,000 7,650 6,800 (32%) 339.6 5,150 PERTALITE -PERTAMAX - DIESEL Budget 2023 72

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