Investor Presentaiton

Electric Vehicle Benefits Indonesia Electric Vehicle Outlook 2023 Despite having a higher upfront cost, EVs already have a lower total cost of ownership than comparable ICEVS • EVs have a higher upfront cost compared to their ICEV equivalent. However, battery, as the main component of EVs, has shown a price reduction trend in recent years, thus, EV price is expected to be more affordable in the next few years. • Despite their higher upfront cost, EVs have a lower TCO than their ICEV equivalent. The lower TCO is mainly due to significantly lower maintenance fees and fuel costs. In addition, several incentives provided by the government, such as the reduction/exemption of vehicle title transfer fee (BBNKB) and tax, also play a role in further lowering EVs' TCO. In the 2W market, the conversion program could further reduce the TCO of E2W. • In contrast to petroleum fuel, the government strictly regulates the electricity price and has been postponing the electricity price adjustment for the past few years. Meanwhile, gasoline prices, especially in 2022, have seen some fluctuations in line with the global market price. As a result, the cost of electricity per kilometer traveled in an EV could be 1.5 to 7 times cheaper than the cost of gasoline per kilometer traveled in an ICEV. ⚫ It should be noted that TCO and emission calculation is very sensitive to several factors such as price, vehicle efficiency, total traveled distance, fuel and electricity price, and taxes and incentives. For example, comparing the TCO of the cheapest EV and the most popular ICEV will show less favorable results for EVs regardless of performance and class differences. Meanwhile, increasing the total traveled distance will be more favorable to EVS due to greater savings in fuel costs. Rp/km TCO comparison of E2W and conventional 2W for 40 thousand km 1,000 750 500 250 о Source: IESR analysis Rp/km 857 -7% -32% 794 583 675 465 435 2W 32W Converted 32W TCO comparison of E4W and conventional 4W for 200 thousand km 6,000 4,000 5,060 -14% 4,348 2,000 2,665 3,185 4W E4W CAPEX Tax Source: IESR analysis Title transfer fee Fuel cost Maintenance 14

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