Investor Presentation Consolidated

Investor Presentation

Consolidated 3M–2020 Update

Disclaimer & Cautionary Statement

This document is not, and nothing in it should be construed as, an offer, invitation or recommendation in

respect of the Company’s credit facilities or any of the Company’s securities. Neither this presentation nor

anything in it shall form the basis of any contract or commitment. This document is not intended to be relied

upon as advice to investors or potential investors and does not take into account the investment objectives,

financial situation or needs of any investor.

The Company has prepared this document based on information available to it that have not been

independently verified. No representation or warranty, expressed or implied, is provided in relation to the

fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions

expressed herein. The information included in this presentation is preliminary, unaudited and subject to

revision upon completion of the Company’s closing and audit process.

This document may include forward-looking statements concerning the Company’s plans, objectives, goals,

strategies, future events, future performance, capital expenditures, business trend, and other information

that is not historical. When used in this document, the words “estimates”, “expects”, “anticipates”, “projects”,

“plans”, “intends”, “believes”, “predicts”, “forecasts”, or future or conditional verbs, such as “will”, “should”,

“could”, or “may” and variations of such words or similar expressions are intended to identify forward-looking

statements. All forward-looking statements, including, without limitation, management’s examination of

historical operating trends and data are based upon the Company’s expectation and various

assumptions. Future events or results may differ from those anticipated or expressed in these forward-

looking statements.

All forward-looking statements attributable to the Company or persons acting on its behalf apply only as of

the date of this document. The Company undertakes no obligation to update or revise forward-looking

statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of

unanticipated events.

2

Company OverviewThe Milestones | The Sub-Holding Co |Leadership | Business Portfolio | Business Structure | 3M-2020 Highlights

About PGASPT Perusahaan Gas Negara Tbk (PGAS:IJ) the leading natural gas distribution and transportation

player in Indonesia. PGAS continues to strengthen its position in the market by gradually

transforming into an integrated energy solution company, encouraging the use of natural gas.

PGAS is engaged in upstream oil and gas, midstream and downstream fields across the Indonesian

peninsula. PGAS owns and operates natural gas pipelines in excess of more than 10,000km in total

length, covering c. 96% of the national natural gas pipeline network. PGAS’ upstream portfolio

consist of 10 oil and gas blocks across the country, and 1 shale gas in Houston, US. PGAS has 2

FSRU’s (Lampung & West Java) and land based regasification facility in Arun. PGAS, through its

downstream entities, serves more than 2,000 industrial and commercial customers.

PGAS become subsidiary of PT Pertamina (Persero) since 11 March 2018 as part of Government ofIndonesia’s Oil & Gas Holding initiatives. With the acquisition of 51% stake in PT Pertamina Gas(and its subsidiaries) on 28 December 2018, PGAS has officially been the Gas Sub-holdingCompany.

The Milestones7

89

79

7

73

3

80

2

80

3

77

2

96

0

99

0

88

2

201920162015 2017 2018

2,1

01

2,0

46

1,3

42

*3M-2020

1,591 1,600 1,505

3,061 3,036

2,224

951 807 830874

2,935

1,040

2017

3,069

2015

1,217

2016

2,970

3,870

2018

3,849

2019

260

3M-2020

3,187

3,1063,472

2015

3,023

3,664

3,170

2016

3,2823,234

2017

4,737

Tota

l Lia

bili

ties

3,202

2018

4,139

2019

4,655

3M-2020

Tota

l Eq

uit

y

Distribution (BBTUD)Transmission (MMSCFD )

Revenue & EBITDA(USD Million)

Capitalization(USD Million)

1998 2003 2007 2009

20172018

• Completion of Grissik – Duritransmission pipeline

• Establishment of PT Transportasi Gas Indonesia (TGI) in 2002

• Completion of Grissik- Batam-Singapore transmission pipeline

• Batam Distribution Network in 2004• Listed Company (“PGAS”)

• Completion of SSWJ transmission pipeline

• Establishment of PT PGAS Telekomunikasi Nusantara (PGASCOM)

Establishment of O&M subsidiary, PT PGASSolution

Muara Bakau Block started production and meet the target of natural gas lifting of 580 MMscfd to increase domestic gas supply

Establishment Sub-Holding Gas

Establishment of a JV between Pertamina and PGN: PT Nusantara Regas

Establishement of upstream subsidiary, PT Saka Energi Indonesia and downstream subsidiary PT Gagas Energi Indonesia

2010 2011

Establishment of PT PGN LNG Indonesia

• Estabalishment of PT Permata Graha Nusantara, a subsidiary in property

• Operation of FSRU Lampung

20122014

Completion of Kalija transmission pipeline by KJG

20152016

Development of gas distribution pipeline in MusiBanyuasin, Bandar Lampung, DKI Jakarta and Mojokerto.

5*) Excl. Processed Gas & TGI Volume

The Sub-Holding Co.

Vision

To be World Leading National Gas Company for a SustainableFuture and National Energy Sovereignty.

Mission

Conducting gas business in Midstream, Downstream, and Othersupporting businesses that committed to increasing value for allstakeholders through:

1. Providing gas and developing infrastructure to utilize gas asenergy and raw materials to create optimum value for thebenefit of customers and society;

2. Creating added value for shareholders and employees,environmentally sound, has the advantage and prioritizesafety;

3. Carry out the principles of professional, responsible andsustainable management of the Company;

4. Organizing other businesses to support gas utilization andsustainable business management.

56.96%

43.04%Public

1 Serie A

6

Indonesia

Pertamina

PGN

Baa2 (Stable) BBB (Stable) BBB (Stable)

Baa2 (Stable) BBB (Stable) BBB (Stable)

Baa2 (Stable) BBB- (Stable) BBB- (Stable)

Credit Rating FitchS&PMoody’s

As of 31 March 2020

7

President DirectorGigih Prakoso

Director of Finance Arie Nobelta Kaban

Director of CommerceDilo Seno Widagdo

• A PhD from the University ofKentucky, Lexington, USA

• Previously served as Directorof Investment Planning andRisk Management of PTPertamina (Persero)

• Bachelor and Masterdegree from University ofGajah Mada.

• Previously served as TeamLeader Investigation inCorruption EradicationCommission (KPK)

• Master degree in InternationalManagement from University ofPrasetya Mulya.

• Serves as a Director of Commercesince 30 August, 2019. Previouslyserved as Director ofInfrastructure & Technology PTPGN Tbk

Director of Human Capital & General Services

Desima Equalita Siahaan

Director Infrastructure & Technology

Redy Ferryanto

Director of Strategy & Business Development

Syahrial Mukhtar

• Bachelor of Management fromUniversity of PadjajaranBandung and Master ofMarketing at Oklahoma CityUniversity, USA.

• Served as HR and GeneralDirector since May 4, 2017.

• A Master degree in InternationalManagement from University ofPelita Harapan/UPH (HarvardUniversity Class).

• Serves as a Director since August30, 2019. Previously served as theDirector of Operational &Development PT EnergiManagement Indonesia

• A Bachelor of IndustrialEngineering ITB, Master ofManagement University of GajahMada and Doctor of ManagementStrategic University of Indonesia

• Previously served as CorporateSecretary PT. Pertamina (Persero)

Board of Commissioners

Independent Commissioners Christian H. Siboro

Commissioners Luky Alfirman

Commissioners Mas’ud Khamid

• A Master of Business Administration &Management from PPM GraduateSchool of Management and Paris Schoolof Business.

• Having no affiliation with members ofthe Board of Directors and othermembers of the Board ofCommissioners, as well as majorshareholders and/or controllers.

• A MA and PhD in Economic,University of Colorado

• Having an affiliation with theRepublic of Indonesia as thecontrolling shareholder, in hisposition as General Director ofFunding & Risk in Ministry ofFinance

• A Bachelor in Physics from ITS Surabaya• Having an affiliation with PT Pertamina

(Persero) as the controllingshareholder, in his position as Directorof Retail PT Pertamina (Persero).

• Previously served as Director ofConsumer Service PT Telkom (Persero)Tbk

Independent Commissioners Paiman Raharjo

Independent Commissioners Kiswodarmawan

President Commissioners Arcandra Tahar

• Master and Ph.D. of Ocean Engineering– Texas A&M University

• Having no affiliation with othermembers of the Board of Directors andthe Board of Commissioners, as well asmajority and/or controllingshareholders

• Previously served as Vice MinisterEnergy and Mineral Resources ofRepublic of Indonesia (2016 –2019)

• A Master of Economic Administrationfrom the University of Prof. Dr. Moestopoand Doctor of Administrative Sciencesfrom Padjajaran University

• Having no affiliation with members ofthe Board of Directors and othermembers of the Board ofCommissioners, as well as majorshareholders and/or controllers.

• A Bachelor of Civil Engineering fromITS, Surabaya.

• Previously served as ManagingDirector of Adhi Karya (Persero) Tbk

• Having no affiliation with othermembers of the Board of Directorsand the Board of Commissioners, aswell as majority and/or controllingshareholders

Board of Directors

Business Portfolio Sub Holding Gas

88

DOWNSTREAM

0

UPSTREAM

Oil and Gas ProductionNatural gas reserves in Indonesia are larger than oil. Saka Energi Indonesia is subsidiary of PGN that has business activities in the upstream business

MIDSTREAM

Through TGI, KJG and Pertagas, PGN maintain a very high reliability and operational infrastructure security. FSRU converts LNG into high-quality natural gas. PGN has 2 (two) FSRUs namely FSRU lampung and FSRU West Java and also land base regasification facility in Arun through Pertagas

Gas Transport Module (Gas Link) Gas Link is a solution for chanelling natural gas to location that are not connected to a gas pipeline

Commercial Customers MRU is the solution for natural gas filling station for trantation using CNG technology

> > > >

Power PlantsPower plant made from gas fuel is more environment friendly compared to oil fuel or coal

Commercial Customer Efficiency and reliability are important factor in distributing energy to commercial customers. PGN in this case can fulfil these needs

Household CustomerPGN has distributed gas to more that 300,000 household customers in 52 cities/regencies all over Indonesia

Gas Filling Station (SPBG) and Mobile Refueling Unit (MRU) Subsidiary, Gagas Energi Indonesia operates 16 SPBG at 11 cities in Java and Sumatra

Industrial SectorIndonesia’s growth is driven by the growth of its industrial sector. PGN continues trying to encourage fuel usage efficiency by distributing natural gas to various industrial area in Indonesia

Business Structure PGN Group

99

OUR PEOPLE OUR CUSTOMERS OUR BUSINESS OUR COMMUNITIES

▪ The safety and well-being of our people is our top priority. With this in mind, 95% of employees are now working from home (WFH) for the foreseeable future. While 5% of our people involved in critical operations continue at their normal workplace and we have processes in place to help protect them.

▪ Implementing the robust preventive protocols for health & safety e.g.: o Daily health reporting & monitoring via

internal online apps.o Increasing cleaning procedureso Practising social distancing in every

operating offices & facilities.o Masks and hand sanitizer for our

employees.

▪ Maintain benefit & compensation to employees at home during the COVID emergency situation.

▪ Keep providing health services:o Deployed clinical staff internally to support

on-line health consultancy during WFHo Additional supplements & vitamins to our

frontline operations.

▪ We are currently not experiencing any serious gas supply disruption due to coronavirus and our commitment to our customers and suppliers remains the same.

▪ Our customer services remain accessible through contact center and digital platform.

▪ As the impact of coronavirus – or COVID19 –touches some of our customers, we help customers surviving this outbreak by giving customer relief, such as: o Temporary contract amendment with ease

of process.o Temporary decrease the minimum

contract during the pandemic.o Reduce procedure to respond customer’s

request in increasing maximum contract, especially for food production related to COVID-19 handling.

▪ During this period of time, we are practicing ‘social distancing’ in collecting data of residentials gas usage by having our residential customers sending the meter gas picture and estimation gas usage.

▪ We have business continuity plans in place to make sure we can continue to provide the energy for the country, include efforts such as: o ToP and SoP renegotiation with our

suppliers and transporters due to lowering gas demand.

o Implementing operation protocol with minimum human operator in order to maintain reliability of infrastructure

o Closely monitoring any potential of delayed infrastructure projects due to supply chain from impacted countries by prioritizing the unaffected projects to such issues.

▪ To protect the health of our company, we are making interventions to reduce capital and operational spending: o Cost Leadership by reducing OPEX 25%o Capex efficiency with target min. 25%

from Capex plan 2020. Our Capex will focus on strategic investment in downstream business that contributes maximum added value to the growth of the Company

▪ Our group had pledged over IDR 5 billion to protect and empower all affected communities, working closely with Governments and partners, includes: o Supports medical personnel on the

frontlines in the appointed hospital to treat COVID-19 patients by providing protective medical equipment and supplies as well as food donation.

o Contributes to Government’s efforts in providing respiratory systems for treating increasing cases and testing kits to increase per capita testing.

o Supplying natural gas to COVID’s emergency hospital (Wisma Atlet).

o Donating face masks, hand sanitizers and gloves to the communities in our operation areas.

o Enhancing safe and healthy environment program in the communities by building hand washing facilities as well as disinfectant spraying in the surrounding neighborhood.

PGN is engaged with our employees, customers, partners, and communities in response to these unprecedented circumstances that we are all now face. The COVID-19 pandemic has emerged as a significant global challenge that is creating disruption across the world. PGN stands

ready to support the Government and help the communities where our people live and our business operate.

10

Our response to COVID-19

3M-2020

Highlights

11

FINANCIAL INDICATORS(USD Million)

Revenue

EBITDA

Total Asset

Equity

874

260

7,936

3,282

OPERATING METRICS

Upstream

Downstream,

Midstream

& Supporting

CAPEX ($US Million)

88

0

88

2

*FY20 Target

3M-2019

3M-2020

87

0-8

80

Dis

trib

uti

on

(B

BTU

D)

+1%0.2%

3M-2020

1,2

83

3M-2019

Tran

smis

sio

n (

MM

SCFD

)

1,3

42

*FY20 Target

1,3

60

-1,3

70

-1%+5%

12

0

11

1

Reg

asif

icat

ion

(B

BTU

D)

3M-2020

3M-2019

12

0-1

26

FY20 Target

-8%-8%

21

9

16

8

17

8-1

84

3M-2019

FY20 Target

3M-2020

LPG

Pro

cess

ing

(TP

D) -6%

-23%

3M-2020

FY20 Target

Oil

Tran

spo

rtat

ion

(B

OEP

D)

11

,17

2

3M-2019

9,9

99

9,5

89

-10

,00

0

+4%

-10%

28

,93

6.0

3M-2019

20

,79

8.0

Up

stre

am L

ifti

ng

(BO

EPD

)

3M-2020

28

,76

7-3

0,1

37

FY20 Target

-28%-28%

*FY20 Target

30%

70%56%

FY2019

44% 67% 33%

3M-2020

219

300-500

36

Upstream

Downstream, Midstream & Supporting

*) Notes:

In the face of the ongoing pandemic, Board of Director of PGN had decided to revise 2020 target of distribution and transmission volume due to weakening demand as well as cutting down Capex plan 2020.

3M–2020 Operational PerformanceDistribution | Transmission | Other Downstream | Upstream Lifting

Business Updates

▪ Consolidated distribution volume is relatively stable on YoY basis albeit slightly lower consumption from non-power customers. The impact of Covid-19 starting to show on QoQbasis. We expect the declining impact from the pandemic to be reflected in the 2Q-2020.

▪ Majority of industrial sector showed lower consumption.▪ Number of customers increased in all segment.▪ Natural gas remain competitive compared to oil related fuel.

Industrial Consumtption to Total Sales Volume

Distribution Volume (BBTUD)

3M-2020

Operational Highlights:Distribution

918 951

880 882

20172015 3M-20192016 2019

42

3M-20202018

803

39

802 772

960 990

0.2%

13

0.3%

Basic Metal

Textile

Wood

Lifting Oil

2.7%

Paper

Cement

CNG

Glass

Fabricated Metal

8.6%

Others

Ceramic

Food

Chemical

Power Plant

0.0%

14.5%

1.7%

0.3%

1.0%

4.5%

4.9%

5.6%

7.8%

8.8%

38.7%

-40

-30

-20

-10

0

10

20

30

Bas

ic M

etal

3.7 15

.0

Wo

od

9.8

Foo

d

6.6

Text

ile

13

.2P

aper

Lift

ing

Oil

Ch

emic

al3

.2 8.9

CN

G

Cem

ent

12

.8

Fab

rica

ted

Met

al

25

.8

0.2

Oth

ers

10

.0

14

.4

1.0

Po

wer

Pla

nt

15

.5

Gla

ss

Cer

amic

Industrial Growth (% YoY)

Trend of Industrial Consumption (BBTUD)

Processed Gas

537 525560 571

534

338374

444 423342

Q2-2019Q1-2019 Q3-2019 Q1-2020Q4-2019

Retail (Non Power) Power

-40

-30

-20

-10

0

10

20

30

CN

G

Foo

d1

.6 22

.3

10

.1

1.1 1.6

8.3

3.3

Text

ile

Bas

ic M

etal

Wo

od

Pap

er

23

.6

Cer

amic

Fab

rica

ted

Met

al

Gla

ss7

.3

2.6

Cem

ent

10

.7

Oth

ers

19

.2P

ow

er P

lan

t

14

.7

12

.8Li

ftin

g O

il

Ch

emic

al

Industrial Growth (% QoQ)

Operational Highlights:Distribution

58

5

58

3

54

2 61

4

61

5

57

9

13

0

13

0

13

3

13

0

13

0

12

5

10

3

10

8

11

9

14

2

69

2018 3M-2020

81

2015 2016

84 90

2017

98

2019

14

75

1

77

0

77

7

84

5

86

7

86

7

2,9

84

3,1

84

1,1

72

1,0

07

3,0

52

2015 2016

1,2

09

7

2017

3,2

70

1,2

21

2018

3,3

08

1,2

35

8

2019

3,3

22

1,2

33

8

3M-2020

Length of Distribution Pipeline 3M-2020 : ±5,430 KMGas Sources

(as of 31 March 2020)

RD 1 (Jakarta, Bogor, Bekasi, Karawang, Tangerang, Cilegon, Lampung, Palembang, and Cirebon)

RD 2 (Surabaya, Sidoarjo, Pasuruan, Semarang, Tarakan, and Sorong)

RD 3 (Medan, Batam, Pekanbaru, and Dumai)

Pertagas

51%

33%

16%

99%

Piped Gas

1%

LNG

Conocophillips

Pertamina Group

Others

Distribution Volume (BBTUD)Per Regional

PGN’s Pricing

3

4

5

6

7

8

9

10

1.5

4.0

2.5

2.0

3.0

3.5

4.5

ASP/APP(USD/MMBTU)

6.37

2016 2019

Gross Spread(USD/MMBTU

2015

8.54

2017

8.64

2018 3M-2020

8.92

5.92 5.94 6.07

8.39

6.20

8.56 8.64

6.24

ASP APP Spread

LPG - 3 kg

Coal 2.67

21.20

MFO

Natural Gas (PGN’s Avg.)

MDF/IDO (Diesel)

Kerosene

16.34

LPG - 12 kg

HSD (Solar)

RON 88

LPG - 50 kg

8.64

24.70

21.26

20.85

18.70

18.49

8.67

+114%

+186%

+145%

+89%

+146%

+116%

-69%

+141%

USD/IDR : 16,367ICP : USD 34.23/barrel (as of 31 March 2020 )

PGN’s ASP vs Other Energy

39

3,4

53

1,5

66

2,4

55

2,4

75

2019

1,5

98

40

1,0

24

3M-2020

397,474 405,097

Industries & Commercials ResidentialsSmall Businesses

Number of Customers

0.7%0.1%

99.2%

Customers Consumption(as of 31 March 2020)

3M–2020

Operational Highlights:Transmission

Transmission Volume (MMSCFD)

654 676

2,046

1,375

2016

2,101

2015 20182017

1,233

30

25 1447 19

797

1,336

2019

20

*3M-2019

8

1,334

*3M-2020

789 733

1,283 1,342

15

Pertagas PGN KJG

▪ Total Length: ±2,466 km

▪ Transmission Revenue

▪ Total Length: ±1,079 km (incl. SSWJ)▪Off-taker: PLN,

BBG▪ Transmission

Revenue

▪ Total Length: ±201 km

▪Off-taker : PLN

▪ Finance Lease Revenue

3M–2020

Operational Highlights:Other Downstream

Oil Transportation(BOPD)

Regasification (BBTUD)

Gas Processing (TPD)

11,172

3M-2019

3M-2020

9,999

-10%

120111

3M-2019

3M-2020

-8%

29 10

190

158

**3M-2019

219

**3M-2020

168

-23%

LPG MKS

LPG Pondok Tengah (60%)

20

1

20

1

20

1

20

1

20

1

20

1

1,0

06

1,0

77

2016

1,1

45

2015

1,0

77

1,0

77

1,0

06

1,0

06

2017

1,0

06

2,2

23

1,1

44

1,0

06

2018

2,3

99

1,0

06

2019

2,3

99

1,1

45

3M-2020

Length of Transmission Pipeline 3M-2020 : ±4,751 KM

Pertagas

PGN

KJG

TGI

Business Updates

▪ Gas transportation through Pertagas transmission pipeline primarily contributes to higher transmission volume YoY.

▪ The gas from Muriah block has stopped flowing via KJG transmission pipelines since Sept 2019 which resulting impairment for the pipelines last year and no revenues booked for 3M-2020 period.

▪ Downward trends seen in other downstream business segments’ performance due to weakening demand.

*) Excl. TGI Volume

**) Excl. Perta Samtan Gas

3M–2020

Operational Highlights:Upstream Lifting

Crude Oil (BOEPD)

3M-2019

5,943

5,487

1,010

7,350

15,088

11,256

3,124

475

3M-2020

28,936

20,798

-28%

GasOil LNG LPG

83 82 18

3,344

2,060

3M-2019 3M-2020

3,024

5,487

3,124

-43%

26

12

34

6

8

50

57

3M-2019 3M-2020

88

65

5

-26%

43

34

3M-2019

34

3M-2020

43

-19%

Gas (BBTUD) LNG (BBTUD) LPG (MTPD)

87

41

3M-20203M-2019

41

87

-53%

Oil Gas Lifting (BOEPD)

16

Business Updates

▪ The crash of oil prices impacted the production activities that translates to lower lifting volume YoY

▪ Given the global oil and LNG supply demand, Saka will only focus in

maintaining its existing operations in its oil and gas fields, while also

implementing efficiency programs in its production activities

Bangkanai

Pangkah

Fasken

Ketapang Muara Bakau

3M–2020 Financial PerformanceIncome Statement | Balance Sheet | Cashflow | Financial Ratios | Debt Profile

3M–2020

Financial Highlights:Consolidated Income Statement

18

876

591

285

163

65

263

874

587

287

172

48

260

Cost of Revenue

Revenue Gross Profit Operating Income

EBITDANet Income

31-Mar-19

31-Mar-20

87%

9%4%

83%

17%

Revenue Contribution

EBITDA Contribution

(USD Million)

Revenue (USD Million)

31 Mar 2019 31 Mar 2020

Gas Distribution 677 693

Gas Transmission 57 65

Oil Transportation 6 5

E&P 93 76

Fiber Optic 3 4

Finance Lease 6 -

Gas Processing 25 25

Others 7 4

Total 876 874

▪ Consolidated revenue relatively stable albeit lower contribution from E&P, oil transportation, finance lease and other supporting businesses.

▪ Realized net income primarily impacted by the foreign exchange loss recorded at USD 63 million in three months period this year

▪ Consolidated EBITDA mainly contributed from lower depreciation of Saka and PGN’s distribution & transmission expenses

Others

Distribution & Transmission

Upstream

3M–2020

Financial Highlights:Consolidated Balance Sheet Consolidated Cashflow

19

Cash Flow(ÙSD Million)

31 Mar 2019 31 Mar 2020

Beginning Balance 1,315 1,040

Cash flow from operating 223 182

Cash flow from investment (43) 101

Cash flow from financing (636) 89

Foreign Exchange Impact 11 (66)

Ending Balance 870 1,346

Financial Ratios 31 Mar 2019 31 Mar 2020

EBITDA Margin 30% 30%

EBITDA /Interest Expense (x) 5.9 6.9

Debt-to-Equity (x) 0.8 0.9

1,123

Total EquityCurrent Liabilities

3,016

Current Assets

Non Current Liabilities

Non Current Assets

Total Assets

7,936

Total Liabilities

2,2092,426

5,1655,510

7,374

4,655

1,288

3,2823,366

4,139

3,234

31 Dec 2019 (Audited)

31 March 2020

(USD Million)

▪ Increasing Total Assets reflecting higher trade receivables and prepaid expenses as well as the impact of implementation new accounting standard PSAK 73 to the increasing fixed asset

▪ Higher Total Liabilities was contributed by new short term bank loans and implementation of PSAK 73 recognized in lease payables of FSRU Lampung.

Consolidated cash flow reflecting positive operating cash flow and higher cash inflows related to withdrawal of short-term investment into cash and receipt of carried receivables as well as drawdown of short term loans.

3M–2020

Debt Profile

Total LoanUSD 2.85 Billion

Weighted Average Interest Rate 4.19%(Excl. Tax)

20

2020E

68

1,0

04

19

70

FY2019

18

6

>2025E

38

2

20

2021E

32

8

2022E

20

43

2023E

28

8

2211

1,9

75

2024E

8 Bonds

Commercial & Multilateral Loan

Shareholder Loan

526

>2025E**2024E2020E

121

1

51

9

FY2019

117

36

1

6

28

121

2021E

121

510

121

2022E

5

35

3

2023E

61

Debt Maturity Profile*(USD Million)

Interest Payment* (USD Million)

Entities PGN SAKA Pertagas** PGAS Solution PGAS Com

Lender EIB(USD)

JBIC(JPY)

IBRD(USD)

Bank Mandiri(USD)

SMBC(USD)

Bond(USD)

Bond(USD)

SHL (USD)

Bank Mandiri(IDR)

DBS(IDR)

Outstanding 2,375,337 36,595,714,000 29,702,080 150,000,000 100,000,000 1,350,000,000 625,000,000 246,207,747 200,000,000,000 20,000,000,000

Maturity 2020 2043 2026 2020 2020 2024 2024 2028 2020

*) The amount stated above may differ due to loan prepayment and/or withdrawal, currency and rate volatility **) Pertagas Shareholder Loan is lended by PT Pertamina (Persero)

(Source: Bloomberg & Moving Average Forecast)

9698100102104106108110

13,600

13,400

13,800

14,000

14,200

14,600

14,400

USD/IDR

2019 2023E

USD/JPY

2020E 2021E 2022E 2024E >2025E

USD-IDR USD-JPY

5.50 1.40

6.00

6.50

7.00

1.80

1.60

2.00

2.20

2.40

2020E

JIBOR LIBOR

2019 2021E 2022E 2023E 2024E >2025E

LIBOR-3M LIBOR-6M JIBOR-6M

Currency Forecast Interest Rate Forecast (%)

87.7%

11.8%0.5%

USD JPY IDR

18%

82%

Float Rate Fixed Rate

Strategic Projects & Investment 2020

LNG Infrastructure - Teluk Lamong, East Java

▪ Reliability of infrastructure to supply gas 30 BBTUD inEast Java

▪ Opportunity for LNG Retail 10 BBTUD

Benefit

▪ Providing Floating Storage Unit (FSU), developingOnshore Receiving Facility (ORF), Cryogenic Pipelineand distribution pipeline ➔ Phase I

▪ Development of LNG Filling Station➔ Phase II

▪ Development of Onshore LNG Storage Tank ➔

Phase III

Scope

▪ Phase I & II : on stream 2020▪ Phase III : on stream 2021

Target Operation

▪ Phase I & Phase II = 91 %▪ Phase III : Engineering Study

Progress

22

APBN 2020 : 266.070 SR

City Gas Project

49 cities/regencies

Reducing

LPG import

± 0,16

million

ton

Potential

Volume

±10

Bbtud

Phase I : 30 cities/regencies (non Java region)Progress : Construction

Phase : 19 cities/regencies (Java region)Progress : Procurement

PGN 2020 : 50.000 SR

Jakarta dan Tangerang

Feasibility Study, FEED-DEDC

Progress:

23

LOCATION (Dumai, Riau Province)

• Length : 367 km, dia. 4” – 24”• Volume : +203.519 BPOD

DESIGN PROGRESS

• Procurement • Target : 2H - 2021

PROJECT

OIL TRANSMISSION PIPELINE : • MINAS – DURI – DUMAI DAN • BALAM – BANGKO – DUMAI Potential Volume : ± 90 BBTUD ≈ ± 16.4 thousand BOEPD

RDMPCilacap

Cilacap

Balikpapan Sorong

Tuban

Balongan

RDMPBalikpapan

GRRTuban

RDMPBalongan

KilangTPPI

Oil Transmission Pipeline

Rokan Oil PipelineDownstream Infrastructure Projects

Oil to Gas Conversion for Refineries

24

Quick Win 324 MW

Phase 1 : 778 MW

Phase 2 : 515 MW

Phase 3 : 280 MW

> 52 HSD Power Plants (Capacity 1.8 GW)Potential Volume : 167 BBTUD

Downstream Infrastructure Projects

Oil to Gas Conversion for Power Plants

25

Investor Relations:PT Perusahaan Gas Negara TbkMid Tower Manhattan 26th FloorJl. TB Simatupang Kav. 1-S, Jakarta, IndonesiaEmail: [email protected]: +62 21 8064 1111

HEADQUARTERJl. K.H. Zainul Arifin No. 20, Jakarta, Indonesia

mailto:[email protected]

Investor Presentation Consolidated

Documents

Transcript of Investor Presentation Consolidated