2022 State Budget: Fiscal Policy and Structural Reform

Republic of Indonesia - Dual Currency USD3bn and EUR1bn Issuer Issuer Rating Exp. Issue Rating Format Republic of Indonesia Baa2 Moody's (Stable) BBB S&P (Neg) BBB Fitch (Stable) Baa2 Moody's/ BBB S&P/ BBB Fitch SEC Registered Senior unsecured fixed rate notes off US SEC Shelf January 5, 2021 Issue Pricing Date Settlement Date Currency Size US$1.25bio Tenor Long 10-year January 12, 2021 USD US$1.25bio US$0.5bio Long 30-year Long 50-year Euro €1bio Long 12-year Maturity March 12, 2031 March 12, 2051 March 12, 2071 March 12, 2033 Coupon (p.a.) 1.850% 3.050% 3.350% 1.100% Yield 1.900% 3.100% Price 99.538% 99.020% 3.400% 98.794% 1.174 99.165% Listing Use of Proceeds Singapore, Frankfurt Stock Exchange The net proceeds are for general purposes of the Republic of Indonesia, including its Covid-19 relief efforts Transaction Highlights • The lowest yields and coupons throughout the issuance of Indonesian Global Bonds for all tenors and currencies • All tranches priced inside of the Republic's existing credit curve with negative new issue premium and at the tightest levels for every one of the tranches • The transaction was well-executed and competitively priced, with final pricing across all tranches pricing 45bps inside of initial price guidance for USD and 40bps inside of initial price guidance for EUR Source: Ministry of Finance Ps/Others, CB/SWF 5% Banks, Insurance PF, RIEUR033 Investor Breakdown by Investor Type CB/SWF PB/Others, 3% 19 Banks, 8% Insurance/ PF, 20% RI0351 Banks, 1% PB/Others, 1% PB Others, AM/FM, 75% CB/SWF 80% AM/FM, 68% CD/SWE 6% Insurance/ PF, 24% RI0371 Banks, 26% RI0331 AM/FM, 63% Insurance PF, 2% US, 20% Investor Breakdown by Geography RIEUR0333 APAC, 9% EMEA, 71% EMEA, 30% US, 27% RI0351 AM/FM, 63% US, 20% EMEA, 22% APAC, 43% EMEA, 31% RI0331 RI0371 APAC, 58% APAC, 32% US, 37% 86 98

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