PGN Business and Operations Update

Million USD Million USD 9M-2018 Highlights 3.000 2.000 2.445 2.165 Consolidated Statement of Comprehensive Income 1.760 1.605 ■9M-2017 ■9M-2018 Stronger Distribution Volume by 11% (YoY) Increasing Revenue, EBITDA & Net Income Stable Margin (within Guideline) 1.000 8.000 684 701 DOWNSTREAM UPSTREAM 560 390 632 218 268 98 Distribution Volume Revenues Cost of Revenues Gross Profit Operating Income Net Income EBITDA 849 MMSCFD (YOY up 11%) Overall net lifting ±40,602 BOEPD (YoY up 1%) Transmission Volume • Consolidated Statements of Financial Position Oil 8,232 BOEPD 12 M 2017 ■9M 2018 718 MMSCFD (YOY down 3%) (Incl. TGI & KJG) • Gas 123 BBTUD • LNG 59 BBTUD • LPG 92 MTPD 6.661 6.293 6.000 4.485 4.167 4.000 2.494 2.000 1.808 Sales Price 3.345 3.316 2.763 3.106 3.187 2.640 $ ~USD 8.36/MMBTU (YOY down 2%) Cost of Gas 582 ~USD 6.09/MMBTU (YOY up 1%) (incl. LNG) 467 Current Assets Non Current Total Assets Assets Current Liabilities Non Current Liabilities Total Liabilities Total Equity Revenue Contribution 80% 18% 2% EBITDA Contribution 59% 41% ■ INFRASTRUCTURE Pipeline Network +7,517 km (+64km of pipeline) IMPACT OF MACROECONOMY ■ Weakening Rupiah against US Dollar ■ Stronger power demand and sustainable industry recovery Tightening Government's Policy ■ Distribution Upstream Others Distribution & Others Upstream Higher oil price 6

View entire presentation