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PT ASTRA INTERNATIONAL TBK

Full Year 2017 - Results Presentation

Disclaimer The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general background information about Astra Group business performances current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Astra businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements; past performance is not a reliable indication of future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither Astra and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. 1

Highlights Net earnings per share Rp466

25%

Auto Market Share

54%

Group Results

75%

Return to profitability at Permata Bank

Sustained higher commodity prices benefited heavy equipment and mining businesses, as well as agribusiness

For the year ended 31st December 2017

2016

Change

Net revenue (Rp bn)

206,057

181,084

14%

Net income (Rp bn)*

18,881

15,156

25%

466

374

25%

As at 31st December 2017

As at 31st December 2016

Change

123,645

111,951

10%

3,054

2,765

10%

Net earnings per share (Rp)

Shareholders’ funds (Rp bn)**

Net asset value per share (Rp)**

* Net income is profit attributable to owners of the parent, i.e. Astra International shareholders. ** Shareholders' funds and net asset value per share are based on equity attributable to owners of the parent. The financial results for the year ended 31st December 2017 and 2016 as well as the financial position as at 31st December 2017 and 2016 have been prepared in accordance with Indonesian Financial Accounting Standards and are audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.

2

Business Structure Automotive

Automobile • Toyota • Daihatsu • Isuzu • BMW • Peugeot • UD Trucks

Motorcycle • Federal International Finance

• Menara Astra • Brahmayasa Bahtera • Samadista Karya • Astra Land Indonesia • Astra Modern Land

Motorcycle • Honda Component • Astra Otoparts

Others • AstraWorld

Financial Services

Automobile • Astra Credit Companies Other • Toyota Astra Finance

Property

Heavy Equipment, Mining, Construction and Energy

Heavy Equipment • Surya Artha Nusantara Finance • Komatsu Astra Finance

Construction Machinery • United Tractors • Traktor Nusantara

Banking • Permata Bank

Coal Mining • Tuah Turangga Agung

Insurance • Asuransi Astra Buana • Astra Life

Mining Contracting • Pamapersada Nusantara

Construction Industry • Acset Indonusa Energy • Bhumi Jati Power

Agribusiness

Palm Oil Plantation • Astra Agro Lestari Refineries • Tanjung Sarana Lestari • Kreasijaya Adhikarya • Tanjung Bina Lestari Commodity Trading • Astra-KLK Pte.Ltd Cattle in Palm Oil Plantation • Agro Menara Rachmat

Infrastructure and Logistics Toll Road • Marga Mandalasakti • Marga Harjaya Infrastruktur • Marga Trans Nusantara • Trans Marga Jateng • Trans Bumi Serbaraja • Lintas Marga Sedaya Sea Port • Pelabuhan Penajam Banua Taka Logistics • Serasi Autoraya

Information Technology Document Solution • Astra Graphia IT Solution • Astra Graphia Information Technology Office Services Solution • Astragraphia Xprins Indonesia

3

Market Position as at 31 December 2017 • Astra’s car market share decreased from 55% to 54%. • Astra’s motorcycle market share increased from 74% to 75%. • Komatsu market share increased from 32% to 35%. Car

Motorcycle Suzuki Kawasaki 1% 1% Yamaha 23%

Toyota 35% Others 46%

Heavy Equipment

Isuzu 2%

Others 17%

Daihatsu 17%

Source : Gaikindo

Honda 75%

Komatsu 35%

Source : AISI

Kobelco 15%

Hitachi 15%

Caterpillar 18%

Source: United Tractors – Internal Market Research

4

Corporate Actions Jan ‘17

• Astratel Nusantara completed the acquisition of an initial 40% interest in PT Baskhara Utama Sedaya, which owns 45% of Lintas Marga Sedaya, the operator of the newly operational 116.8km Cikopo-Palimanan toll road, and subsequently conditionally agreed to acquire the remaining 60% interest.

Mar‘17

• United Tractors’ 25%-owned Bhumi Jati Power, which will develop and operate two 1,000 MW thermal power plants in Central Java, completed its project financing agreement with lenders. This build, operate and transfer project is expected to cost approximately US$4.2 billion and is scheduled to start commercial operation in 2021. Bhumi Jati Power is a joint venture with Sumitomo Power Corporation and Kansai Electric Power.

Mar‘17

• United Tractors through its subsidiary Tuah Turangga Agung, completed the acquisition of an 80.1% stake in PT Suprabari Mapanindo Mineral, a coking coal company in Central Kalimantan.

5

Corporate Actions May‘17

• Astratel Nusantara acquired the remaining 60% interest in PT Baskhara Utama Sedaya, which owns 45% of the operator of 116.8km Cikopo-Palimanan toll road. The total acquisition cost of the Group’s ownership of PT Baskhara Utama Sedaya is approximately Rp5 trillion. • Astratel Nusantara increased its stake in the 72.6km Semarang-Solo toll road from 25% to 40%.

Jun‘17

• Permata Bank completed its Rp3.0 trillion right issue.

Sep‘17

• Astra Land Indonesia entered into an agreement to increase its shareholding in Astra Modern Land from 50% to 67%. • Astratel Nusantara divested its 49% stake in PAM Lyonnaise Jaya.

6

Financial Performance

7

Consolidated Income Statement “After a satisfactory overall result in 2017, the Group should continue to benefit from improving economic conditions and stable commodity prices, although competition seen in the car market is expected to intensify.” - Prijono Sugiarto, President Director -

In Billion Rupiah IDR / USD, average Net Revenue Gross Profit Selling, General and Administrative Expenses Other Income Share of Results of Joint Ventures and Associates Income Tax Expenses Non-controlling Interests Net Income

2017 13,398 206,057 42,368

2016 13,330 181,084 36,432

Change 1% 14% 16%

(22,042)

(18,898)

17%

2,176

1,370

59%

6,694

3,349

100%

(6,031) (4,284) 18,881

(3,951) (3,146) 15,156

53% 36% 25%

8

Divisional Net Revenue and Net Income Divisional Net Revenue In Billion Rupiah Automotive Financial Services Heavy Equipment, Mining, Construction and Energy Agribusiness Infrastructure and Logistics Information Technology Property Total

2017

2016

Change

95,210 18,641 64,429 17,306 6,841 3,610 20 206,057

94,440 17,762 45,112 14,121 7,189 2,451 9 181,084

1% 5% 43% 23% (5%) 47% 122% 14%

2017

2016

Change

8,868 3,752 4,469 1,602 (231) 198 223 18,881

9,166 789 3,032 1,599 263 196 111 15,156

(3%) 376% 47% 0% (188%) 1% 101% 25%

Divisional Net Income In Billion Rupiah Automotive Financial Services Heavy Equipment, Mining, Construction and Energy Agribusiness Infrastructure and Logistics Information Technology Property Total

9

Consolidated Balance Sheet



The net asset value per share was Rp3,054 at 31st December 2017, 10% higher than at the end of 2016.



Net cash, excluding the Group’s financial services subsidiaries, was Rp2.7 trillion at the end of 2017 compared with net cash of Rp6.2 trillion at 31st December 2016. The decrease was due mainly to new investments in toll roads, property and power plants. Correspondingly, at the Group’s parent company, Astra International, net debt rose to Rp9.2 trillion compared with net debt of Rp7.1 trillion at the end of 2016. The Group’s financial services subsidiaries had net debt of Rp46.1 trillion at the end of 2017, compared with Rp47.7 trillion at the end of 2016.

In Billion Rupiah Cash and Cash Equivalents Trade Receivables Inventories Financing Receivables Investment in Joint Ventures and Associates Fixed Assets Other Assets Total Assets Short-term Borrowings Trade Payables Long-term Debt Other Liabilities Total Liabilities Equity Attributable to the Owners of The Parent Non – controlling Interest Total Equity Net Debt (Cash) Net Cash (Excl. Financial Services)

31-Dec-17 31,574 25,420 19,504 63,252 39,260 48,402 68,234 295,646 16,321 29,468 58,657 34,871 139,317 123,645 32,684 156,329 43,404 (2,654)

31-Dec-16 29,357 19,426 17,771 64,639 33,987 43,237 53,438 261,855 18,764 22,489 52,146 28,550 121,949 111,951 27,955 139,906 41,553 (6,193)

Change 8% 31% 10% (2%) 16% 12% 28% 13% (13%) 31% 12% 22% 14% 10% 17% 12% 4% (57%) 10

Consolidated Cash Flow As at 31 December 2017, Astra’s ending consolidated cash balance (incl. bank overdraft) was Rp31.6 trillion. In Billion Rupiah

2017

2016

Change

Cash generated from operations

26,990

22,734

4,256

Tax Payments

(5,404)

(4,706)

(698)

1,699

1,379

320

23,285

19,407

3,878

7,033

3,820

3,213

(11,816)

(8,368)

(3,448)

Net Investment

(9,356)

(6,263)

(3,093)

Other Investing

(802)

13

(815)

(14,941)

(10,798)

(4,143)

3,372

2,685

687

Finance Costs Paid

(1,829)

(2,042)

213

Dividend Payments

(8,587)

(8,140)

(447)

860

1,609

(749)

(6,184)

(5,888)

(296)

2,160

2,721

(561)

29,356

27,072

2,284

58

(437)

495

31,574

29,356

2,218

Interest Received Net Cash flow provided from Operating Activities Dividend Received Net Capex

Net Cash flow used in Investing Activities

Net Proceeds of Debt

Other Financing Net Cash flow used in Financing Activities Increase in Cash Opening Cash Balance (incl. Bank Overdraft) Exchange Rate Adjustment

Closing Cash Balance (incl. Bank Overdraft)

11

Business Updates

12

Domestic Wholesale Car Market In 2017, car sales slightly increased, driven by the new product introductions in the Low MPV segment and increased commercial vehicle sales. Weak GDP of 4.79% (↓16%)

LTV Policy (↑25%)

In thousand units Astra Others

1,230

1,208

1,116 894 511

765 608

1,080

575

474

501

510

589

579

2015

2016

2017

594 503

411 338

486 290

1,063

1,013

Lehman Crisis (↓20%)

Improved GDP of 5.07% (↑2%)

205

318

281

2008

2009

427

483

2010

2011

605

655

614

2012

2013

2014

Segment

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Sedan

6%

5%

4%

3%

3%

3%

2%

2%

1%

1%

4x2 & 4x4

64%

69%

67%

64%

67%

65%

57%

54%

58%

55%

Commercial

30%

26%

29%

33%

30%

28%

27%

28%

19%

22%

LCGC

0%

0%

0%

0%

0%

4%

14%

16%

22%

22%

Source: Gaikindo

13

Automotive – Wholesale Car Market The wholesale Astra’s car salesmarket were 10% for cars higher wasatlittle 421,000 changed units, atresulting 1.1 million in an units. increase Astra’sincar market sales share were from 2% lower 50% at to579,000 54%. units, with its market share decreasing from 55% to 54% 2%

2017

2016

1,079,886

1,062,688

LCGC 234,554 / 21.7% Others 500,772/ 46.4%

LCGC 235,171/ 22.1% Other Brands 500,772 / 46.4%

Others 473,634/ 44.6%

Commercial 238,163 / 22.1%

Astra 579,114 / 53.6%

Commercial, 204,249/ 19.2% Isuzu, 20,085 / 1.9%

Isuzu, 16,724/ 1.6%

Daihatsu 186,381 / 17.3%

Daihatsu 189,683/ 17.8%

4x2 & 4x4 596,002 / 55.4% Toyota 372,614 / 34.5%

Astra 589,054/ 55.4%

Market Segment

4x2 & 4x4 609,667 / 57.4% Toyota 382,606/ 36.0%

Sedan 9,167 / 0.8%

M/S 2017

Other Brands 473,634/ 44.6%

Sedan 13,601/ 1.3%

Brand

M/S 2016 Source: Gaikindo

Market Segment

Brand

14

Automotive – Car Product Launches In 2017 , Astra launched 11 new model and 11 revamped models.

Lexus RX 200t F Sport (NEW) January 2017

Astra Daihatsu Ayla April 2017

BMW 530i (NEW) August 2017

Isuzu NLR (NEW) August 2017

Toyota Rush (NEW) November 2017

Daihatsu Terios (NEW) November 2017 15

Domestic Wholesale Motorcycle Market

• Wholesale market for motorcycles decreased by 1% to 5.9 million units in 2017. • Scooter segment continued to dominate the market. In thousand units Lehman Crisis (↓6%)

6,216

7,373

5,852

8,013

7,064 3,739

3,957 3,341

Weak GDP of 4.79% (↓18%)

LTV Policy (↓12%)

7,744

7,867

3,047

2,816

6,480

2,975

GDP Recovery of 5.07% (↓ 1%)

5,931

5,886

2,026

1,550

1,500

3,151

2,875

2,701

2008

2009

3,416

2010

4,274

4,089

4,697

5,051

4,454

4,381

4,386

2011

2012

2013

2014

2015

2016

2017

Astra

Others

Segment

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Cub

63%

52%

45%

37%

26%

19%

16%

12%

9%

8%

Scooter

26%

39%

46%

52%

60%

63%

68%

75%

79%

82%

Sport

11%

9%

9%

11%

14%

18%

16%

13%

12%

10%

Source: AISI

16

Automotive – Wholesale Motorcycle Market Astra Honda Motor’s domestic sales were slightly higher at 4.4 million units, resulting in its market share improving from 74% to 75%. 1% 2017 2016

5,886,103

5,931,285

Kawasaki 1.3%

Kawasaki 1.6%

Suzuki 1.2%

Yamaha 1,348,211 22.9%

Honda 4,385,888 74.5%

Brand 2017

Sport/Others 48.6%

Sport/Others 10%

Sport/Others 6.6%

Scooter 3,781,777 86.2%

Scooter 3,781,777 78%

Cub 316,922 7.2%

Cub 316,922 70.9%

Honda Segment

Honda Product M/S

Scooter 4,848,540 82.4%

Suzuki 1%

Yamaha 1,394,078 23.5%

Honda 4,380,888 73.9%

Cub 446,781 7.6% Segment

Sport/Others 49.3% Sport/Others 8.1%

Scooter 3,661,284 83.6%

Cub 363,906 8.3%

Brand 2016

Source: AISI

Sport/Others 12.2%

Honda Segment

Scooter 3,661,284 78.1%

Cub 363,906 69.7%

Honda Product M/S

Scooter 4,688,004 79%

Cub 522,082 8.8%

Segment

17

Automotive – Motorcycle Product Launches In 2017, Astra Honda Motor launched 8 new models and 18 revamped models.

Honda HondaCMX Scoopy 500(New) Rebel March 2017

Honda SH 150i (NEW) April 2017

Honda CBR 250 RR August 2017

Honda Revo October 2017

Honda CRF 150 (New) November 2017

Honda PCX 150 (NEW) December 2017 18

Automotive – Components Astra Otoparts, the Group’s components business, reported net income up 32% to Rp551 billion, due mainly to an increase in revenues arising from higher replacement market sales and improved contributions from its joint venture and associate companies.

Revenue (Rp bio)

Net Income (Rp bio)

32%

6%

13,550

46%

551 12,807

2017 FY17

Share of Results of Joint Ventures and Associates (Rp bio)

2016 FY16

335 418

2017 FY17

2016 FY16

230

2017 FY17

2016 FY16

19

Financial Services Net income from the Group’s financial services division increased to Rp3.8 trillion from Rp789 billion in the prior year due to a return to profitability at Permata Bank and improved earnings contributions from Astra Sedaya Finance, Federal International Finance and Asuransi Astra Buana. Unit Financed

Auto

HE

2016

%

2016

ACC

178,327

185,188

(4)

ACC

27,275

27,475

(1)

TAF

107,971

112,914

(4)

TAF

19,831

19,559

1

Total ACC & TAF

286,298

298,102

(4)

Total ACC & TAF

47,106

47,034

0

3,569

3,475

3

FIF (Incl.Electronics)

34,622

32,621

6

Total Auto

81,728

79,655

3

SANF

3,004

3,056

(2)

KAF*

2,855

1,643

74

Total HE

5,859

4,699

25

FIF (Incl.Electronics)’000

%

2017

2017

Amount Financed (Rp bio)

SANF

975

504

93

KAF

578

291

99

1,553

795

95

Total HE

Auto

HE

Permata Bank

Asuransi Astra Buana

• FY17 consolidated net income Rp748 billion (FY16: consolidated net loss Rp6.5 trillion). • Loan book decreased by 7% YoY to Rp98 trillion. • LDR rose from 80% to 88%; CAR rose from 15.6% to 18.1% • Gross NPL ratio fell from 8.8% to 4.6%; Net NPL ratio fell from 2.2% to 1.7%.

• Higher net income by 9% to Rp1.0 trillion. • FY17 Gross Written Premium up by 4% YoY to Rp4.4 trillion. • RBC: 288%** vs regulatory minimum of 120%. * Average exchange rate USD/IDR: 13,398 (FY17) & 13,330 (FY16) **Tentative figure, waiting confirmation from OJK

20

Heavy Equipment Market Heavy equipment market in 2017 improved significantly due to strong recovery in coal price. In Units Others

17,360

Komatsu

14,421 11,781

8,893

9,684 5,339

8,219

6,644

2008

6,049

5,912

5,354

8,467 6,202

5,404 3,111

2009

8,867

6,377

3,533 4,345

10,823

10,252

2010

2011

2012

4,203

3,513

2013

2014

6,844

3,788

4,663

2,124

2,181

2015

2016

7,035

3,788

2017

Market Share

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Komatsu

45%

47%

46%

49%

43%

41%

40%

36%

32%

35%

Caterpillar

23%

21%

16%

18%

19%

19%

18%

22%

17%

18%

Hitachi

17%

18%

19%

15%

21%

21%

20%

18%

20%

15%

Others

15%

14%

19%

18%

17%

19%

22%

24%

31%

32%

Source: UT’s internal research

21

Heavy Equipment, Mining, Construction and Energy United Tractors, which is 59.5%-owned, reported net income 48% higher at Rp7.4 trillion. The increase was mainly due to significantly stronger coal prices that led to improved performances in its construction machinery and mining contracting businesses, as well as its mining operations.

Revenue (Rp bio)

Mining Contracting

42%

64,559 3,030 7,181

45,539

Coal Production 3%

1,794 5,124

29,637

OB Removal 14%

798.7

701.5

24,003 24,711

112.6

14,618

2017

2016

Construction Machinery

Mining Contracting

Mining

Construction Industry

109.2 2017

Overburden (mn bcm)

Coal (mn tonnes)

Komatsu Unit Sales

Coal Sales (incl. Trading)

74%

7%

3,788

2016

General Contractor New Contracts 124%

15%

24%

2,181

11%

10%

8.4

46% 50%

14% 30%

2017

2016

Mining

Forestry

Construction

6,336

2017 Agro

6,866 3.8

2016

Total Coal Sales (all in thousand tonnes)

2017

2016

New Contracts Secured (Rp tn)

22

Agribusiness Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp2.0 trillion. Despite improved revenue from higher crude palm oil prices and sales volumes, the result was little changed from 2016, which had benefited from significant foreign exchange translation gains. Excluding the impact of foreign exchange in both years, net income would have been 8% higher. Revenue (Rp bio)

CPO Yield (tonne/Ha)

17,306

23% 4,880

Export

3%

14,122 4,249

Local

12,426

2017

2016

CPO Production (‘K tonnes)

CPO & Derivatives Sales (‘K tonnes)

5%

1,634

2017

3.96

3.84

2017

2016

9,873

Average CPO Price (Rp/Kg)

12%

1,554

2016 CPO Production

6%

1,741

8,271

7,768

1,557

2017

2016

CPO & Derivatives Sales

2017

2016 23

Infrastructure and Logistics MMS Traffic Volume (‘000 units)

LMS Traffic Volume (‘000 units)

TMJ Traffic Volume (‘000 units)

4%

13%

3%

49,698

47,829

16,770

14,983

12,236

11,887

2017

2016

2017

2016

2017

2016

SERA Vehicles under Contract (units)

The 72.5km Tangerang-Merak toll road, operated by 79.3%-owned Marga Mandalasakti, saw traffic volumes increase by 4% to 50 million vehicles.

2% The 116.8km Cikopo-Palimanan toll road, in which the Group acquired 45% interest, traffic increased by 13% to 17 million vehicles. 23,397

2017

23,853

2016

At the 72.6km Semarang-Solo toll road, in which the Group has a 40% interest, 40.1km is now in operation and traffic rose 3% to 12 million vehicles Serasi Autoraya’s net income increased by 101% to Rp201 billion, due to higher net margins in its car leasing and rental, as well as logistics businesses, despite a 2% decline in its vehicles under contract and 18% lower used car sales. 24

Information Technology Astra Graphia, which is 76.9%-owned, reported net income 1% higher at Rp257 billion, mainly due to increased revenues from its office services business.

Astra Graphia Revenue (Rp bio)

3,918

44%

37%

1%

2,713 4%

38% 25%

41% 113 1,134

38%

55%

37%

1,543

2017

2016

25%

AGDS

Astra Graphia Net Income (Rp bio)

AGIT

257

255

2017

2016

AXI

25

Property Net Income (Rp bio) Net income from the Group’s property division was up 101% at Rp223 billion, primarily due to higher development earnings recognised on its Anandamaya Residences project. Anandamaya Residences and Menara Astra are scheduled for completion in 2018.

101%

223

111

2017

50%-owned Astra Land Indonesia, which owns 67% of Astra Modern Land, is in the process of developing a 67-hectare site in East Jakarta.

2016

26

Appendices

27

Car Product Launches 2017 Models Launched

Launching Period

Engine Capacity

Prices (Rp mio)

Lexus RX 200t F Sport (NEW)

Jan’17

2,000cc

1,340

Toyota Kijang Innova Venturer

Jan’17

2,000cc-2,400cc

388.6-447.9

Toyota Corolla Altis

Jan’17

2,000cc

426.1-460.6

Astra Toyota Agya

Apr’17

1,000cc-1,200cc

127.6-151.9

Astra Daihatsu Ayla

Apr’17

1,000cc-1,200cc

92.6-146.3

Toyota Voxy (NEW)

Aug’17

2,000cc

446

Lexus LS 500 (NEW)

Aug’17

3,500cc

3,500

BMW 530i Luxury (NEW)

Aug’17

2,000cc

1,149*

BMW 530i M Sport (NEW)

Aug’17

2,000cc

1,379*

BMW 520d (NEW)

Aug’17

2,000cc

1,009*

Toyota Innova

Aug’17

2,000cc-2,400cc

298.7-453.8

Toyota Fortuner

Aug’17

2,400cc-2,700cc

467.3-659.4

Toyota Sienta

Aug’17

1,500cc

233.7-323.5

Toyota Hilux

Aug’17

2,000cc-2,500cc

203.4-446.9

* Off the Road price

28

Car Product Launches 2017 Models Launched

Launching Period

Engine Capacity

Prices (Rp mio)

Lexus NX

Aug’17

2,000cc

1,005

Isuzu MU-X 4x4 (NEW)

Aug’17

2,500cc

468

Isuzu MU-X

Aug’17

2,500cc

485-498

Isuzu NLR 55 (NEW)

Aug’17

2,800cc - 100ps

244.7-257

Isuzu NLR 71 (NEW)

Aug’17

4,600cc -125ps

264.7-274.3

Toyota Rush (NEW)

Nov’17

1,500cc

239.9-261.3

Daihatsu Terios (NEW)

Nov’17

1,500cc

195.2-247.9

Daihatsu Xenia Custom

Nov’17

1,300cc

202.4-213.3

29

Motorcycle Product Launches 2017 Models Launched

Launching Period

Engine Capacity

Prices (Rp mio)

Honda PCX 150

Jan’17

150cc

40.1

Honda CRF 250 (NEW)

Feb’17

250cc

62.9

Honda CRF 1000L Africa Twin (NEW)

Feb’17

1,000cc

464-499

Honda CBR 250R Repsol

Feb’17

250cc

63.2-72

Honda CB 500F

Feb’17

500cc

139.3

Honda CBR 500R

Feb’17

500cc

144.3

Honda Supra X 125

Feb’17

125cc

16.8-17.8

Honda Scoopy (NEW)

Mar’17

110cc

17.8

Honda CB 500X

Mar’17

500cc

147.4

Honda CMX 500 Rebel (NEW)

Mar’17

500cc

147.4

Honda SH150i (NEW)

Apr’17

150cc

44.9

Honda CB650F

Apr’17

650cc

235

Honda Vario 150

Apr’17

150cc

21.2

Honda Vario 125

Apr’17

125cc

18.2-18.8

Honda Supra GTR

Apr’17

150cc

21.6-21.8

Honda CBR 150R

Apr’17

150cc

33.0-33.7

Honda BeAT Street

Jun’17

110cc

15.9 30

Motorcycle Product Launches 2017 Models Launched

Launching Period

Engine Capacity

Prices (Rp mio)

Honda CBR1000R (NEW)

Aug’17

1,000cc

575.4

Honda CB150R

Aug’17

150cc

26-27.1

Honda CBR250RR Kabuki

Aug’17

250cc

63.5-70.8

Honda Sonic 150R

Sep’17

150cc

21.9-22.3

Honda BeAT POP eSP

Oct’17

110cc

14.7-15.4

Honda Revo

Oct’17

110cc

13.6-15.3

Honda CRF 150 (NEW)

Nov’17

150cc

31.8

Honda Vario eSP

Nov’17

110cc

16.7-17.6

Honda PCX 150 (NEW)

Dec’17

150cc

27-32

31

National Automotive Market Data

Motorcycle

Car

2017

2016

Wholesale

Astra

Wholesale

Astra

Non LCGC

845,332

48%

827,517

52%

LCGC

234,554

75%

235,171

69%

Total

1,079,886

54%

1,062,688

55%

Cub

446,781

71%

522,082

70%

4,848,540

78%

4,688,004

78%

Sport

590,782

49%

721,199

49%

Total

5,886,103

75%

5,931,285

74%

Scooter

Major Brands Toyota – Avanza, Innova, Fortuner; Honda – HR-V, Mobilio, BR-V, Daihatsu – Xenia, Terios, Gran Max Astra Toyota – Calya, Agya; Astra Daihatsu – Sigra, Ayla; Honda - Brio Satya; Datsun - GO Panca; Suzuki - Karimun Wagon R Honda - Supra Series, Revo Series, Blade; Yamaha – Jupiter MX King, Jupiter ZX, Vega Force; Suzuki – Smash; Kawasaki - ZX130, Edge Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max, Fino; Suzuki – Address, Nex Honda - CB 150 R Street Fire, Verza, CBR 150R, Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson; Suzuki - Satria F 150; Kawasaki – Ninja

32

Equity Research Contact Details No

Brokerage House

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Bahana Sekuritas BCA Sekuritas CIMB Sekuritas Indonesia Ciptadana Sekuritas Asia Citigroup Investment Research CLSA Indonesia Credit Suisse Sekuritas Indonesia Danareksa Sekuritas DBS Vickers Deutsche Verdhana Securities Goldman Sachs HSBC Global Research Indo Premier Sekuritas J.P. Morgan Securities Indonesia Kresna Securities Mandiri Sekuritas Maybank Kim Eng Securities BoA Merrill Lynch Mirae Asset Sekuritas Indonesia NH Korindo Sekuritas Nomura Indonesia Onix Capital RHB Sekuritas Indonesia Samuel Sekuritas Sinarmas Sekuritas Sucor Sekuritas Trimegah Securities UBS Securities Indonesia UOB Kay Hian Securities Valbury Asia Securities Yuanta Securities Indonesia

Analyst Name Andri Ngaserin Pandu Anugrah Erindra Krisnawan Arief Budiman Ferry Wong Sarina Lesmina Jahanzeb Naseer Stefanus Darmagiri Maynard Priajaya Arif Joko Sogie Pramod Kumar Tarun Bhatnagar Chandra Pasaribu Aditya Srinath Robertus Yanuar Hardy Ariyanto Kurniawan Isnaputra Iskandar Swati Chopra Franky Rivan Arnold Sampeliling Elvira Tjandrawinata Bagus Hananto Andrey Wijaya Akhmad Nurcahyadi Evan Lie Hadiwidjaja Raditya Immanzah Willinoy Sitorus Ronald Liem Stevanus Juanda Budi Rustanto Yusuf Ade Winoto

Contact Number +62 21 250 5735 +62 21 23587222 +62 21 30061732 +62 21 2557 4800 +62 21 2924 9213 +62 21 2554 8820 +62 21 2553 7977 +62 21 2955 5831 +62 21 3003 4900 +62 21 2964 4543 +91 22 6616 9043 +65 6658 0614 +62 21 5793 1168 +65 6882 7138 +62 21 2939 1900 +62 21 5296 9682 +62 21 2557 1129 +65 6678 0405 +62 21 515 1140 +62 21 797 6202 +62 21 2991 3341 +62 21 3190 1777 +62 21 2598 6888 +62 21 2854 8144 +62 21 392 5550 +62 21 8067 3164 +62 21 2924 9088 +62 21 2554 7032 +62 21 2993 3845 +62 21 2553 3600 +62 21 515 5890

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For further information please contact: PT Astra International Tbk Corporate Investor Relations P: (+62 21) 652 2555 F: (+62 21) 6530 4953 E: [email protected]

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