Investor Presentaiton

PT Japfa Tbk Managing Cyclicality Revenue IDR Billion Operating Profit IDR Billion JAPFA 3,500 3,136 60,000 3,222 2,803 2,635 48,972 3,000 50,000 44,878 2,500 40,000 38,872 36,965 37,767 2,000 30,000 1,500 1,236 942 20,000 1,000 11,762 12,394 13,611 627 520 438 406 500 190 10,000 (338) 1,412 1,475 1,213 872 979 941 543 340 (65) 2,044 1,361 748 0 0 FY2019 FY2020 FY2021 FY2022 1Q2023 2Q2023 3Q2023 (500) 1Q 2Q 3Q 4Q FY2019 1Q 2Q 3Q 4Q FY2020 1Q 2Q 3Q 4Q FY2021 1Q 2Q 3Q 4Q FY2022 1Q 2Q 3Q 2023 Inflation Covid-19 Operating Profit recovery due to a rebound in poultry prices since 2Q2023 DOC and broiler prices are prone to fluctuation according market demand/supply dynamics. This affects ASPs and profitability, as reflected in the fluctuation of operating profit between quarters. Global macro-economic factors add to market dynamics: • Although raw material costs have been high since 2022, we expect an easing on costs in 2H2023 In 2022, inflationary pressures started affecting consumer purchasing power and our ability to adjust ASPs of our products. Supply in Indonesia has progressively grown over the last few years in line with the expectations of demand growth for chicken, especially with the low per capita consumption. The impact of Covid and inflation has reduced consumer purchasing power and demand for chicken. This resulted in a prolonged demand and supply imbalance in DOCs and broilers. • The quarterly cyclicality tends to even out – the long-term prospects of protein consumption remain solid. 18

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