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Investor Presentaiton

Subnational Policy Indonesia Electric Vehicle Outlook 2023 Rapid growth of EV in Bali as a result of an intensive campaign and a supportive ecosystem • Bali was the only province to follow-up the Presidential Regulation No. 55/2019 by enacting a stand-alone EV policy, i.e. Bali Governor Reg. No. 48/2019. Since then, Bali's EV adoption increased from 24 to 1600 vehicles in 2022, around 6% of the national EV adoption. During the G20 events in Bali, EVs were vigorously promoted and used as official vehicles, and about 300 vehicles were registered on the road since then (Department of Transportation Bali, 2022). The G20 and its "EV-only zone" policy has increased people's awareness towards EV (WRI, 2022). • Bali's ecosystem also facilitates the development of converted EV. For example, Bali currently hosts 2 licensed E2W conversion workshops out of a total of 13 workshops in Indonesia. The Governor of Bali plans to use the converted E2W in tourist destination areas in 2023. In addition, the presence of EV community clubs in Bali helps to spread awareness about EV conversion and supports the growth of EV conversion workshops. There are also EV enthusiast groups willing to pay significantly more than the standard conversion price, even up to 5 times higher (WRI, 2022). • Bali is working towards implementing the Regional Action Plan (RAD) for EVs in 2023 (WRI, 2022). The plan includes the establishment of 5 EV Zones, where hard and soft infrastructure for EVs is prepared. The hard infrastructure is SPKLU/ SPBKLU, while the soft infrastructure is people's awareness about EV. According to WRI (2022), Balinese culture's emphasis on the importance of living in harmony with nature and therefore the need for more sustainable transportation modes have played a role in accelerating the adoption of EVs in Bali. Units 2,000 1,500 1,000 500 EV (2W and 4W) growth in Bali 864 +206% 247 97 6 24 0 2017 2018 Source: Department of Transportation Bali, 2022 Units 80 60 40 1,602 2019 2020 2021 2022 (9 Dec) Number of charging infrastructure in Bali by types (Jan 2023) 20 12 9 64 12 0 Fast charging Fast charging (25 kW) (50 kW) Ultra fast charging (200 kW) Ultra fast charging (120 kW) Туре Source: WRI, 2023 24
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