2022 State Budget and Fiscal Incentives Presentation

Republic of Indonesia - Dual Currency USD1,65bn and EUR500mio Issuer Issuer Rating Format Pricing Date Settlement Date Republic of Indonesia Baa2 Moody's (Stable) BBB S&P (Neg) BBB Fitch (Stable) SEC Registered Allocation by Investor Type Allocation by Geography Banks 21% PB/Others 1% EMEA US 23% 19% US$ 10 Y July 21, 2021 PF/INS/ SWF/CB 21% AM/FM APAC July 28, 2021 57% 58% Banks 4% Currency USD Euro PB/Others EMEA US 1% 21% 28% Series RI0351 RI0731 (Reopening) RI0371 (Reopening) RIEUR0729 US$ Tap of '51s PF/INS/ SWF/CB 49% APAC Issue Size US$600 million US$750 million US$300 million €500 million AM/FM 46% 51% Tenor Maturity 10-year July 28, 30-year 50-year March 12, March 12, 8-year July 28, Banks 1% PB/Others 1% FMEA 32% 2031 2051 2071 2029 US$ Tap of '71s PF/INS/ US 46% Coupon (p.a.) 2,150% 3,050% 3,350% 1,000% SWF/CB AM/FM 88% APAC 22% 10% Yield 2,200% 3,100% 3,350% 1,068% Banks 6% Price 99,553% 99,031% 99,995% 99,481% EUR Listing Singapore, Frankfurt Stock Exchange BY PF/INS/ SWF/CB 16% PB/Others 2% US 8% APAC 20% AM/FM EMEA Use of Proceeds General Purposes, Including Covid-19 relief efforts 76% 72% Transaction Highlights • . Tightest ever spread achieved by ROI for a US$ 10Y issuance to date (Implied spread of +90.8bps over 10Y UST) Tightest ever spread and yield achieved by ROI for a EUR 8Y transaction . • For the USD tranches, garnered total orders of >US$4.7 bn at reoffer representing oversubscription of 2.4x - Achieved negative new issue concessions across all 4 tranches despite UST volatility and a crowded primary market on the day of bookbuild • The transaction marks one of the larger global offering by the Republic and as such demonstrates the Republic's ability to respond swiftly to markets and capture favorable issuance windows representing oversubscription of 2.8x. For EUR, garnered orders of >€1.2bn at reoffer Source: Ministry of Finance 86

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