PT Astra International Tbk1H 2013 Results Presentation

Nomura Indonesia All Access Conference 2013, 22 October 2013, Shangrilla Hotel Jakarta

This report has been prepared by PT Astra International Tbk independently and is circulated for thepurpose of general information only. It is not intended for the specific person who may receive this report.The information in this report has been obtained from sources which we deem reliable. No warranty(expressed or implied) is made as to the accuracy or completeness of the information. All opinions andestimations included in this report constitute our judgment as of this date and are subject to changewithout prior notice.

We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by anyperson as a result of acting in reliance upon the whole or any part of the contents of this report andneither PT Astra International Tbk and/or its affiliated companies and/or their respective employeesand/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and anyinaccuracy herein or omission here from which might otherwise arise.

Cautionary note on forward-looking statements: This report may contain statements regarding thebusiness of PT Astra International Tbk and its subsidiaries that are of a forward-looking nature and aretherefore based on management's assumptions about future developments. Forward-looking statementsinvolve certain risks and uncertainties because they relate to future events. Actual results may varymaterially from those targeted, expected or projected due to several factors. Potential risks anduncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interestrate changes, commodity price fluctuations and regulatory developments. The reader and/or listener iscautioned to not unduly rely on these forward-looking statements. We do not undertake any duty topublish any update or revision of any forward-looking statements.

Disclaimer

Highlights

2

OverviewThe Group’s net earnings declined by 9%, with improved contributionsfrom the financial services and mining contracting businesses offset bylower contributions from the automotive, heavy equipment andagribusiness segments.

Period ended 30th June

2013 2012 Change

Net Revenue (Rp bn) 94,279 95,919 (2%)

Net Income (Rp bn)* 8,819 9,678 (9%)

Earnings per share (Rp) 218 239 (9%)

As at 30th

June 2013As at 31st

December 2012Change

Shareholders’ Funds (Rp bn)** 75,061 71,201 5%

Net asset value per share (Rp)** 1,854 1,759 5%

Group results

* Net income is profit attributable to owners of the parent. ** Shareholders' funds and Net asset value per share are based on equity attributable to owners of the parent.

Business structure

3

Automotive

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

Motorcycle

Honda

Component

Astra Otoparts

Others

Astraworld

Financial Services

•Astra Credit Companies

•Toyota Astra Finance

Motorcycle

Federal Intl. Finance

Heavy Equipment

Banking

•SAN Finance•Komatsu Astra

Finance

Bank Permata

Insurance

Asuransi Astra Buana

Heavy Equipment & Mining

Construction Machinery

•United Tractors•Traktor

Nusantara

Mining Contractor

PAMA PersadaNusantara

Coal Mining

•PMM• TTA• ABP• BEE• ABB / ABJ• DS / DN• PJU

Agribusiness

Palm Oil

Astra Agro Lestari

Infrastructure& Logistics

Toll Road

•MMS : 72km•MTN : 11km•MHI : 41km

Water Utility

Palyja

Fuel Logistic

Gresik Terminal

InformationTechnology

Document Solution

Astra Graphia

IT Solution

Astra GraphiaInformation Technology

Logistics

•SERA / TRAC•Mobil 88 (used)•SELOG•TFLI

Automobile

Sea Port

Eastkal

• Astra’s car market share declined from 56% to 53%, while Astra’s motorcycle market share increased from 57% to 60%

• Komatsu maintains its leading market position, despite tight competition and weaker demand for heavy equipment

Market position at 30 June 2013

4

Toyota36%

Daihatsu15%

Isuzu3%

Mitsubishi13%

Suzuki12%

Nissan5%

Honda8%

Others8%

Car

Source : Gaikindo

Honda60%

Yamaha33%

Suzuki5%

Kawasaki2%

Motorcycle

Source : AISIKomatsu

41%

Caterpillar 18%

Hitachi 22%

Kobelco17%

Others2%

Source: United Tractors – Internal Market Research

Heavy Equipment

2Q13 corporate actions

5

May • AOP completed right issue of Rp 3.0 trillion, with AI participation of Rp 2.9 trillion

June

April • AOP acquired 51% share of PT Pakoakuina (Pako), a wheel rim player for both 2W and 4W for Rp 700 billion

• AI placed 15.7% of AOP shares at a price of Rp 3,750 to increase the liquidity of the stock, generating Rp 2.8 trillion in gross proceeds

Financial Performance

7

Economic conditions continue to support domestic demand, but the Group’soperations are facing increased competition in the car market, higher labour costs andlower commodity prices

Automotive demand remained favorable, benefiting from rising income, withincreasing competition as a consequence of the introduction of additional domesticcapacity

New minimum down-payment requirements in automotive Shariah-financing had anegligible impact on automotive sales in the first-half results; it is too early todetermine the impact of the fuel price increase on automotive sales

Strong financial services performance, benefiting from loan book growth and afavorable credit environment

Reduced demand in the heavy equipment business due to soft commodity prices.Improved coal mining contracting performance driven by increased mine sitecapacity

Increased palm oil production, amidst lower average CPO prices

1H13 environment

Consolidated income statement

8

In Billion Rupiah 1H 2013 1H 2012 Change

USD / IDR, average 9,756 9,250 5%

Revenue 94,279 95,919 (2%)

Gross Profit 16,568 17,915 (8%)

Operating Expenses (8,673) (7,923) 9%

Other Income 1,292 952 36%

Equity Income 3,067 2,937 4%

Income Tax Expense (2,125) (2,512) (15%)

Non-controlling interest (1,310) (1,691) (23%)

Net Income 8,819 9,678 (9%)

“While the outlook for domestic demand remains positive, it is expected that increasedcompetition in the car market, higher employee costs and lower commodity prices willcontinue to impact results in the second half of the year.”

- Prijono Sugiarto, President Director

Ownership %

Share of NI %1H 2013 1H 2012

Auto Non-Auto Auto Non-Auto

4W AutomotiveSO – Toyota, Daihatsu, IsuzuToyota Astra MotorAstra Daihatsu MotorIsuzu Astra Motor Indonesia

100513245

28.0 30.5

2W AutomotiveAstra Honda MotorHonda SO

50100

16.6 14.7

ComponentAstra Otoparts 80 5.5 5.2

Financial ServicesAstra Sedaya FinanceFederal International FinanceToyota Astra Financial ServicesKomatsu Astra FinanceSAN FinanceAsuransi Astra BuanaPermata Bank

1001005050609645

19.0 5.3 14.3 4.3

Heavy Equipment & MiningUnited TractorsPamapersada Nusantara

6060

16.0 19.3

AgribusinessAstra Agro Lestari 80 6.5 7.9

Infrastructure, Logistics, ITSERAPalyjaMarga MandalasaktiAstra Graphia

100497977

3.1 3.8

9

2001 2012 1H 12 1H 13

Auto (Incl. autorelated Financial Services)

89% 64% 65% 69%

Non-Auto 11% 36% 35% 31%

Astra portfolio for the period 6 months to June 2013

Net income contribution Auto vs. Non-Auto segments:

• Astra’s net asset value of Rp 1,854 per share* at 30th June 2013 was 5% higher than at the end of 2012

• Overall net debt at 30th June 2013, excluding financial services subsidiaries, was Rp 6.2 trillion, compared to net debt of Rp 8.9 trillion at the end of 2012. DER (incl. FinSer) was maintained at 47%

Consolidated balance sheet

10

In Billion Rupiah 30-Jun-13 31-Dec-12 ChangeCash and Cash Equivalents 14,512 11,055 3,457Trade Receivables 18,502 16,443 2,059Inventories 14,780 15,285 (505)Financing Receivables 52,045 48,631 3,414Investments in Associates and Jointly Controlled Entities 21,328 19,801 1,527Fixed Assets 36,435 34,326 2,109Other Assets 39,557 36,733 2,824Total Assets 197,159 182,274 14,885Short-term Borrowings 10,031 7,202 2,829Trade Payables 16,224 12,685 3,539Long-term Debt 49,801 49,555 246Other Liabilities 25,566 23,018 2,548Total Liabilities 101,622 92,460 9,162Equity Attributable to The Owners of The Parent 75,061 71,201 3,860Non – controlling Interest 20,476 18,613 1,863Total Equity 95,537 89,814 5,723Net Debt 45,320 45,702 (382)Net Debt (Excl. Financial Services) 6,166 8,918 (2,752)

* Net asset value per share is based on equity attributable to the owners of the parent.

Consolidated cash flow

11

In Billion Rupiah 1H 2013 1H 2012 Change

Cash from operations 13,094 7,919 5,175 Tax Payments (3,336) (3,096) (240)Interest received 404 365 39 Dividend Received 2,100 2,784 (684)

Cash flow from Operating Activities + Dividend Received 12,262 7,972 4,290 Net Capex (4,851) (6,208) 1,357 Net Investment (1,174) (706) (468)Other Investing (152) (347) 195

Cash flow for Investing Activities (6,177) (7,261) 1,084 Net proceed of Debt 2,349 6,793 (4,444)Interest Payment (562) (482) (80)Dividend Payment (7,051) (6,664) (387)Other Financing 2,393 (62) 2,455

Cash flow from Financing Activities (2,871) (415) (2,456)Increase in Cash 3,214 296 2,918 Opening Cash Balance 10,815 13,071 (2,256)

Exchange Rate Adjustment 185 93 92

Closing Cash Balance 14,214 13,460 754

The cash inflow from operating activities for the first-half of 2013 was Rp 12.3 trillion, an increase of Rp 4.3 trillion due to working capital improvement.

Business Updates

Astra 301,63556.4%

Astra 321,18453.4%

Others 233,62643.6%

Others280,76846.6%

4x2 & 4x480.5%

4x2 & 4x479.7%

Commercial16.4%

Commercial 18.0%

Toyota37.8%

Toyota35.8%

Daihatsu15.0%

Daihatsu 14.7%

Isuzu 3.1%Isuzu 2.7%

Mitsubishi13.8%

Mitsubishi12.9%

Suzuki 9.6%Suzuki 12.5% Honda 4.9%

Honda 8.2%Nissan 6.4%

Nissan 5.2% Others 8.9%

Others 7.8%

Sedan 2.9% Sedan 2.7%

4x2 & 4x4357,16466.7%

4x2 & 4x4415,70269.1%

Commercial162,68030.4%

Commercial169,84928.2%

Sedan 59.8% Sedan 43.8%

4x2 & 4x468.0%

4x2 & 4x461.6%

Commercial 30.4%

Commercial34.1%

M/S1H12

AI Product Segment

Brand Segment AI Product M/S

M/S1H13

AI Product Segment

Brand Segment AI Product M/S

Sedan 3.1%

Source: Gaikindo

Car

13

1H12 1H13

Domestic car sales grew by 12%. Astra was able to maintain a leading market position with market share of 53%.

601,952

Sedan 2.2%

535,261

Product launches - carAstra launched 6 new car models and 8 revamped models during the first-half of 2013

All New ViosMay 2013

BMW 320dJune 2013

All New Avanza AirbagMay 2013

14

All New Xenia AirbagMay 2013

New Peugeot RCZMay 2013

Isuzu Giga FVZJune 2013

Upcoming models – Astra’s LCGC

15

Astra Toyota AgyaAstra Daihatsu Ayla

Honda, 2,101,881

56.8%

Honda, 2,364,297

60.3%

Yamaha,1,311,323

35.4%

Yamaha, 1,277,781

32.6%

Suzuki, 6.0%Suzuki, 5.3%

Others 1.8%Others 1.8%

Cub609,93229.0%

Cub466,99519.8%

Scooter1,409,337

67.1%

Scooter1,717,700

72.7%

Sport/Others3.9%

Sport/Others7.6%

Cub609,93258.3%

Cub466,99559.5%

Scooter1,409,337

64.7%

Scooter1,717,700

68.7%

Sport/Others17.2 %

Sport/Others28.0%

Cub1,046,459

28.3%

Cub784,76020.0%

Scooter2,176,634

58.8%

Scooter2,498,633

63.7%

Sport & Others 12.9%

Sport & Others 16.3%

Brand1H12

Honda Segment Honda Product M/S

Segment Brand1H13

Honda Segment Honda Product M/S

Segment

Motorcycle

Source: AISI

1H 2012 1H 2013

Motorcycle sales grew by 6%, while Honda sales grew by 12.5%, with market share increased from 57% to 60%.

16

3,702,354 3,923,695

Product launches - motorcycle

17

During the first-half of 2013 AHM launched 2 new models and 5 revamped models

Supra X 125 RApril 2013

Vario 125 CBS Idling Stop March 2013

Honda Verza January 2013

Honda Scoopy FIFebruary 2013

157 147

371 371

Equity Income Consolidated

OEM67%

After Market

25%

Export8%

52% 52%

40%40%

8%

8%

Export After Market OEM

OEM65%

After Market

29%

Export6%

Components

18

Net Income (IDR billion)

• Astra Otoparts, the Group’s 80%-owned automotive components business, reported net income of Rp 519 billion, a decrease of 2%, of which 71% was from associates and jointly controlled entities

• The 19% increase in revenue was offset by higher labour costs

528 519

Revenue (IDR billion)

4,162

19%(2%)

1H 2012 1H 2013 1H 2012 1H 2013

4,961

Amount Financed (Rp bio) 1H 2013 1H 2012 %

Auto

ACC 13,056 12,398 5

TAFS 4,883 4,287 14

Total 4W 17,938 16,685 8

FIF 9,878 9,603 3

Total Auto 27,816 26,288 6

HE

SANF 1,663 2,899 (43)

KAF 907 1,533 (41)

Total HE 2,571 4,432 (42)

Financial services

19

• 1H 2013 consolidated net income increased

by 15% to Rp 818 billion

• Loan book grew by 27% to Rp 107.3 trillion

• LDR 91.8% & CAR 15.6%

• Net-NPL ratio were down from 0.5% to 0.4%

Asuransi Astra Buana

• 1H 2013 Gross Written Premium up by 22% year on year to Rp 1.9 trillion

• RBC : 201%, requirement 120%

Bank Permata

Net income from the financial services businesses grew by 19% to Rp 2.1 tn, driven by loan book growth

Unit Financed 1H 2013 1H 2012 %

Auto

ACC 95,047 85,645 11

TAFS 32,124 28,269 14

Total 4W 127,171 113,914 12

FIF 860,135 798,352 8

HE

SANF 1,479 2,261 (35)

KAF 199 228 (13)

Total HE 1,678 2,489 (33)

* Incl. Joint Financing

44.5 50.1

Coal Production (mn tonnes)

407.3

414.5

Overburden Removal (mn bcm)

1,491 710

1,555

1,459

3,046

2,169

PMM Mines TTA Mines (all in thousand tonnes)

14,1658,484

12,92614,436

3,5191,981

Construction Machinery Mining Contracting Mining

60%

48%

6%

8%

21%

21%

13%

23%

Mining Forestry Agro Construction

United Tractors, 59.5%-owned, reported net income down 25% to Rp 2.3 trillion, mainly due to lower heavy equipment sales

Mining Contracting

Coal Mines: Reserves and SalesKomatsu Unit Sales

2,452

Revenue (Rp bio)

1H 2012 1H 2013 1H 2012 1H 2013

Heavy equipment & mining

20

4,231 Est. Combined Coal Reserves (Mio Tons)

TTA 33PMM 8ABP 9ABB/ABJ 84DS/DN 45BEE 200PJU 45Total 424

30,610

1H 2012 1H 2013 1H 2012 1H 2013

24,901

237 238

30 37 Immature

Mature

5,543 5,395

104

100 Export

Local

Area Maturity (‘K Ha) *

Revenue (Rp bio)

CPO Production & Sales (‘K tonnes)275

267

• Astra Agro Lestari, 79.7%-held, reported net income of Rp 717 billion• Despite palm oil production increasing 11% to 704 thousand tonnes, revenue decreased 3% to

Rp 5.5 trillion, due to 16% lower average crude palm oil prices achieved at Rp 6,638 per kg

* Incl. plasma plantation

CPO Yield (tonne/Ha)

Agribusiness

21

5,647

5,495

2.29 2.25

636704

644752

Production Sales

1H 2012 1H 2013 1H 2012 1H 2013

1H 2012 1H 2013 1H 2012 1H 2013

78.5 78.2

30,658 31,223

Infrastructure and logistics

22

• Marga Mandalasakti, Tangerang – Merak 72.5km toll road operator, reported an 11% increase in traffic volumes to 20 million vehicles

• PAM Lyonnaise Jaya, the western Jakarta water utility system, reported a modest decrease in sales volume to 78.2 million cubic metres

• Serasi Autoraya’s revenue improved, supported by a 2% increase in vehicles under contract at its TRAC car rental business to over 31,000 units, however profit declined on higher depreciation and operating costs

TRAC Rental Car (unit)

17,907 19,958

MMS Vehicle Traffic Volume (‘K unit) Palyja Water Sales Volume (Mn m3)

1H 2012 1H 2013

1H 2012 1H 20131H 2012 1H 2013

Appendices

Divisional Revenue

Divisional Net Income

Divisional revenue and net income

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In Billion Rupiah 1H 2013 1H 2012 % ChgAutomotive 53,208 49,675 7%

4W 39,851 38,374 4%2W 8,422 7,165 18%Components 4,935 4,136 19%

Financial Services 6,707 6,168 9%Heavy Equipment 24,864 30,506 (18%)Agribusiness 5,495 5,647 (3%)Infrastructure & Logistics 3,105 3,095 0%Information Technology 900 828 9%Total 94,279 95,919 (2%)

In Billion Rupiah 1H 2013 1H 2012 ∆Automotive 50.1% 50.4% (0.3%)

4W 28.0% 30.5% (2.5%)2W 16.6% 14.7% 1.9%Components 5.5% 5.2% 0.3%

Financial Services 24.3% 18.6% 5.7%Heavy Equipment 16.0% 19.3% (3.3%)Agribusiness 6.5% 7.9% (1.4%)Infrastructure & Logistics 2.5% 3.3% (0.8%)Information Technology 0.6% 0.5% 0.1%

Car products launched in 1H13

25

Models Launched Launching Time Engine Capacity Prices (IDR mn)

Car Lexus LS 460 L Jan-13 4,600cc 2,300Lexus LS 600 HL Jan-13 5,000cc 2,900BMW X1 sDrive18i Business Jan-13 2,000cc 499*BMW X1 sDrive18i xLine Jan-13 2,000cc 559*BMW X1 sDrive20d Sport Jan-13 2,000cc 649*Isuzu NQR 71 Feb-13 125ps 287.5BMW M 135i Feb-13 3,000cc 888*Toyota Etios Valco Mar-13 1,200cc 139.5-169.5Toyota All New Avanza Airbag May-13 1,300cc-1,500cc 155.5-193Toyota All New Vios May-13 1,500cc 242.5-272.5Daihatsu All New Xenia Airbag May-13 1,000cc-1,300cc 133.1-185.8Peugeot New RCZ May-13 1,600cc 689.1*Isuzu Giga FVZ Jun-13 7,800cc 788.5BMW 320d Jun-13 2,000cc 659**Off the road

Motorcycle products launched in 1H13

26

Models Launched Launching Time Engine Capacity Prices (IDR mn)*MotorcycleHonda Verza Jan-13 150cc 16.1 – 16.9Honda Revo Series Jan-13 110cc 13Honda Vario Feb-13 110cc 14.6Honda Scoopy FI Feb-13 110cc 13.9Honda Spacy FI Mar-13 110cc 13.2Honda Vario 125 CBS Idling Stop Mar-13 125cc 16.4Honda Supra X 125 R Apr-13 125cc 14.9-15.9

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1H 2013 1H 2012Major BrandsWholesale Astra Wholesale Astra

Car

Sedan 16,401 43.8% 15,417 59.8% Toyota - Vios/Limo, Camry, Altis ; Honda - City,Civic, Accord; Mercedes - E Series, C Series

4X2 & 4X4 415,702 61.5% 357,164 68.0%

Toyota - Avanza, Innova, Rush, Yaris: Daihatsu - Xenia, Terios, Gran Max; Nissan - Grand Livina, March, Evalia; Suzuki - Ertiga, APV, Swift; Honda - Jazz, CR-V, Freed; Mitsubishi – PajeroSport, Mirage, Outlander Sport

Pick Up/ Trucks/ Bus 162,248 33.5% 154,844 29.8%Mitsubishi – Canter, L-300, Strada; Suzuki – Carry; Daihatsu – Gran Max; Isuzu – Elf, Panther, Giga; Toyota – Dyna ,,Hi-Lux, Hi-Ace

Double Cabin 7,601 37.4% 7,836 41.4% Toyota – Hilux; Mitsubishi – Strada; Ford – Ranger; Isuzu – D-Max

Total 601,952 53.4% 535,261 56.4%

Mot

orcy

cle

Cub 784,760 59.5% 1,046,459 58.3%Honda - Supra X 125, Revo Series, Blade; Yamaha -Jupiter MX, Vega RR, Jupiter Z; Suzuki – SmashTitan, Shooter, Shogun Axello 125

Scooter 2,498,633 68.7% 2,176,634 64.7% Honda - BeAT, Vario, Scoopy; Yamaha - Mio, Xeon, X-Ride; Suzuki – Nex, Hayate, Let’s

Sport & Others 640,302 28.0% 479,261 17.2%Yamaha - V-ixion, Byson, Scorpio Z; Honda - CB 150 R, Verza, New Mega Pro; Suzuki - Satria F 150, Thunder 125

Total 3,923,695 60.3% 3,702,354 56.8%

Source: Gaikindo

National market data (summary)

For further information please contact:Investor Relations of PT Astra International Tbk - Attn:Iwan Hadiantoro / Tira Ardianti / Inneke Soendoro / ChristianP: (+62 21) 652 2555F: (+62 21) 6530 4953E: iwan.hadiantoro@ai.astra.co.id / tira.ardianti@ai.astra.co.id /

laurentia.innekesoendoro@ai.astra.co.id / christian@ai.astra.co.id

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