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www.astra.co.id PT ASTRA INTERNATIONAL TBK Nine Months of 2025 Results Presentation
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The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and show general background information about Astra group (the Group) business performances are 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. Forward-Looking Statements This presentation may contain forward looking statements, including statements regarding our intent, belief or current expectations with respect to the Group 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, negligence or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. Consolidated Financial Information The financial results for the nine months ended September 30th 2025 and 2024 and the financial position as at September 30th 2025 have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. 2
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Business Portfolio
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Automotive & Mobility Financial Services Heavy Equipment, Mining, Construction & Energy Agribusiness Infrastructure Information Technology Property New Business Initiative: Healthcare Astra Business Portfolio Business Pillars Main Focus for Capital Deployment Diversified and resilient portfolio across consumption and industrial sectors. Clear transition strategy, alongside consistent efforts to strengthen and create new synergies through expansion into related areas and new businesses for long-term growth. Aspiring Business Pillar: Healthcare Infrastructure Physical Digital Industrial & Logistics Healthcare Non-Coal Minerals
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Corporate Actions
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Corporate Actions (1/2) 6 The Group increased its ownership in Medikaloka Hermina (Hermina) to 20.2%. Hermina is one of Indonesia’s largest private hospital networks. The Group's total investment to date in the healthcare sector, including Hermina, Halodoc and Heartology, amounts to Rp8.6tn. (Sep’25) The Group, through United Tractors, signed a Conditional Sale and Purchase Agreement (CSPA) to acquire 100% of Arafura Surya Alam, a gold mining company located in North Sulawesi, for a total consideration of USD540mn. This acquisition will be effective subject to the fulfilment of conditions precedent under the CSPA. (Sep’25) The Group, through Saka Industrial Arjaya (SIA), a company under its Property division, completed the acquisition of an 83.7% stake in Mega Manunggal Property (MMP), an industrial and logistics property developer listed on the Indonesia Stock Exchange. Following this transaction, SIA has become the new controlling shareholder of MMP and will carry out Mandatory Tender Offer in line with the capital market regulations. This acquisition is part of the Group’s strategy to benefit from Indonesia's rapidly growing demand for industrial & logistics infrastructure, particularly modern warehouses. (Sep’25) Healthcare Gold Mining Industrial & Logistics Infrastructure
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Corporate Actions (2/2) 7 On 31 October 2025, Astra announces a share buyback program for up to Rp2 trillion, which will run from 3 November 2025 to 30 January 2026. On 30 October 2025, United Tractors announced its share buyback program for up to Rp2 trillion, which will run from 31 October 2025 to 30 January 2026. Under both of these programs, shares will be repurchased in accordance with the Financial Services Authority regulation related to share buyback under significantly fluctuating market conditions. These programs reflect management’s confidence in both companies’ prospects and their ability to generate sustainable cash flows, as well as supporting the government in maintaining stability of the capital market. (Oct’25) Share Buybacks
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Financial Highlights
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36% 27% 29% 3%4% 38% 10% 41% 9% For the period ended 30th September 2025 Net Revenue Rp243,608bn Net Income Rp24,674bn* 1% 6% * Before fair value adjustments on investments in GoTo and Hermina • Earnings per share down 6% to Rp609 (excluding fair value adjustments) • Overall results were impacted by lower coal prices partially offset by higher contributions in gold mining, financial services, agribusiness and infrastructure, while automotive performance was stable • Resilient market share in motorcycles in a relatively stable market, while car market share declined in a softer market reflecting weaker purchasing power in the entry-level segment • Astra and United Tractors announced separate share buyback programs for up to Rp2 trillion each, reflecting management’s confidence in both companies’ prospects and their ability to generate sustainable cash flows. These programs also support the government in maintaining stability of the capital market Financial Highlights Automotive & Mobility: Mobility includes SERA (transportation logistics solutions) and OLXmobbi (used car) HEMCE: Heavy Equipment, Mining, Construction & Energy Others: IT and Property Net Revenue Net Income Automotive & Mobility Financial Services HEMCE Agribusiness Others Automotive & Mobility Financial Services HEMCE Infrastructure Agribusiness Others Infrastructure 1% 1% 1%
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+75 Consolidated Net Income (before fair value adjustments) (In Rupiah bn) Segment Net Income Lower results mainly due to mining services and coal mining, partly offset by gold mining Higher CPO selling prices and sales volume Agribusiness Supported by higher performance in the motorcycle and components businesses, despite lower car sales Automotive & Mobility Higher contribution from consumer finance on larger loan portfolios Financial Services +501 -2,535 +215 9M24 9M25Automotive & Mobility HEMCEFinancial Services Agribusiness Infrastructure IT & Property -6% +1% +8% -26% +28% +9% 26,186 24,674 10 +34% +207 +25 Higher traffic volume and increased tariffs Infrastructure Heavy Equipment, Mining, Construction & Energy
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Business Update
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183,117 210,349 95,307 125,84917,710 [3%] 20,076 [3%] 265,686 277,386 9M25 9M24 Toyota & Lexus Daihatsu Isuzu Others 319,518 340,676 94,312 134,818 144,511 149,9523,479 [1%] 8,214 [1%] 9M25 9M24 4x4 & 4x2 LCGC Commercial Sedan • Wholesale market decreased by 11% to 562k units, reflecting weaker purchasing power in the entry-level segment. • Astra’s market share declined from 56% to 53%, mainly reflecting lower Daihatsu market share, while Toyota market share remained resilient. • xEV market sales reached 106k units (19% of total 4W sales) with HEVs making up 45%, the majority from Toyota. Market Segment, units [%] Brand, units [%] [57%] [17%] [25%] [54%] [21%] [24%] [33%] [17%] [33%] [20%] 12 [47%] [44%] 561,820 633,660 11% 11% 53% 56%Astra M/S Kijang Innova Zenix HEV Yaris Cross HEV Top Astra HEV Models Automotive & Mobility – 4W 561,820 633,660
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4,837 4,872 9M25 9M24 Automotive & Mobility – 2W • 2W wholesale market decreased by less than 1% to 4.8m units. • Astra Honda Motor’s market share remained relatively stable at 77%. • Despite lower sales volume, 2W business performance improved mainly due to sales mix and exports. 13 77% 77%Astra M/S 1% 2W Market, k units Top Honda Models Honda Beat Honda Vario
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53% 52% 47% 48% 9M25 9M24 Manufacturing Trading Automotive & Mobility – Components • Net income contribution from 80%-owned Astra Otoparts, the Group’s components business, increased by 15% to Rp1.3tn, with higher contribution from all segments. 14 5% 14,16714,807 Astra Otoparts Revenue by Segment (Rp bn)
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23,885 19,330 9M25 9M24 Automotive & Mobility – Mobility • OLXmobbi booked a 24% increase in used car sales to 24k units. • Serasi Autoraya (SERA), the Group’s transportation and logistics solutions business, reported higher performance mainly due to gain on disposal of ex-rental vehicles. 15 OLXmobbi OLXmobbi Used Car Sales, units 24% Serasi Autoraya 26,521 26,755 9M25 9M24 1% SERA Vehicles Under Contract, units
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• Net income from the Group’s Financial Services division increased by 8% to Rp6.7tn. • The improvement in profit was due to higher contribution from consumer financing on larger loan portfolios, with generally stable credit losses. • New consumer amounts financed driven by strong growth in multipurpose financing. 9M25 vs 9M24 [Excluding Dealer Financing] 4W 2W Heavy Equipment • Net income contribution of Rp1.2tn (+7%) • GWP of Rp6.7tn (+11%) Asuransi Astra 16 ACC TAF 4% 3%19,106 FIFGROUP 7%37,693 SANF KAF 13%6,762 15% 4% FIFGROUP SANF KAF 3,303 16%615 5%150,036ACC TAF 4% Financial Services Amount Financed (Rp bn) Units Financed Insurance 88,836 28,846 2,711,080 4,431 • GWP of Rp3.3tn (-26%) Asuransi Jiwa Astra 19%
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17 • Net income from the Group’s Heavy Equipment, Mining, Construction & Energy division, represented by 59.5%-owned United Tractors (UT), decreased by 26% to Rp7.0tn. • The decline in net income was mainly due to: • Mining services, due to heavy rainfall alongside reduced stripping ratios for some customer contracts, • Coal mining, impacted by lower coal prices, • Nickel mining, affected by an impairment relating to two of NIC’s older RKEF processing plants, which were partly offset by higher performance in: • Gold mining due to higher gold prices and sales volume. 17 Heavy Equipment, Mining, Construction & Energy
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829 920 9M25 9M24 10% 9% 13% 14% 14% 12% 63% 65% 9M25 9M24 Forestry Construction Agro Mining 29% 26% 40% 44% 19% 21% 10% 7% 2% 2% 9M25 9M24 18 Heavy Equipment, Mining, Construction & Energy Mining Services Overburden Removal (million bcm) 100,465 99,558 Komatsu Sales Volume (in units) United Tractors Revenue by Segment (Rp bn) 10% Over 70% of Pamapersada Nusantara revenue is driven by overburden removal. 18 1% Heavy Equipment Mining Contracting Services Construction Industry & Energy Gold Mining & Other Mineral Mining Coal Mining Komatsu market share: 22% (source: UT internal market research) 10% 3,653 3,321
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525 599 1,118 771 9M25 9M24 Saprolite Limonite 178 165 9M25 9M24 6.4 5.6 2.8 2.4 2.0 2.1 9M25 9M24 Thermal Coal Metallurgical Coal Coal Trading 133.9 UT Owned Coal: 9.2 19 Heavy Equipment, Mining, Construction & Energy Coal Sales Volume & Price (million tonnes & USD/t) 11.2 10.2 Gold Mining Sales Volume & Price (k Oz & USD/oz) 8% Nickel Mining (Stargate) Nickel Ore Sales & Price* (k wmt & USD k/t) 1,643 19 1,370 20%10% UT Owned Coal: 8.0 3,197 2,330 37% 104.5 22% 15.1 13% 17.3 * Nickel LME
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68% 69% 32% 31% 9M25 9M24 Domestic Export 20 • Net income from the Group’s Agribusiness division, represented by 79.7%-owned Astra Agro Lestari, increased by 34% to Rp853bn. • The improvement in profit was due to higher average CPO selling prices, as well as increase in CPO and derivative product sales. 22,119 Astra Agro Lestari Revenue (Rp bn) CPO & Derivative Sales 1,372k tonnes CPO Production 881k tonnes Average CPO Price Rp14,277/kg 8% 14% 36% 20 Agribusiness 14% 16,287
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KUNCIRAN-SERPONG JORR I W2N SEMARANG-SOLO Total Toll Road length 396km • The business comprises 8 toll roads, spanning 396km on the Trans-Java network and the Jakarta Outer Ring Road. • The Group’s Infrastructure division reported a 28% increase in net income to Rp935bn, due to increased tariffs and higher traffic volume. 21 Infrastructure Daily Toll Revenue (Rp bn) Daily Traffic Volume (k vehicles) 7%20.1 2%530.7
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44% 52% 56% 48% 9M25 9M24 Astra Graphia Information Technology Astra Graphia Revenue (Rp bn) 22 11% 2,262 2,038 22 Information Technology • Net income contribution from 76.9%-owned Astra Graphia was 20% higher at Rp139bn, primarily due to higher revenue from its information technology solutions business and improved operating margin. Astra Graphia Document Solution Astra Graphia Information Technology
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23 Property • Net income from the Group’s Property division increased by 1% to Rp164bn. • The higher net income was mainly driven by contribution from its newly acquired industrial warehouse assets, partly offset by weaker performance from its residential business. Menara Astra Cikarang Logistic Park
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Appendices
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Consolidated Profit and Loss Account Net Revenue Gross profit Operating profit Share of results of joint ventures and associates 9M25 9M24 243,608 246,329 (1) 52,247 54,652 (4) 28,390 31,772 (11) 6,769 7,758 (13) (201) (332) 39 Net Income (before fair value adjustments*) 24,674 26,186 (6) Net Income 24,473 25,854 Fair value adjustments* (5) Change % 25 (In Rupiah bn) *Fair value adjustments in respect of GoTo and Hermina
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Consolidated Financial Position (In Rupiah bn) Total Assets 30 Sep’25 31 Dec’24* 505,442 471,356 7 215,811 199,378 8 Total Equity 289,631 271,978 6 Change % 26 Net cash, excluding the Group’s Financial Services subsidiaries, was Rp13.4tn at 30th September 2025, up from Rp8.0tn at 31st December 2024. Net debt of the Group’s Financial Services subsidiaries was Rp64.6tn at 30th September 2025, up from Rp60.2tn at 31st December 2024. * Restated due to implementation of PSAK 117: Insurance Contracts Total Liabilities
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27 9M25 9M24 Change Net cash flows from operating activities 35,071 36,894 (1,823) Investing activities: Net capex (12,307) (12,451) 144 Net investment (10,935) (3,741) (7,194) Dividends received 6,883 7,024 (141) Other investing 1,114 (389) 1,503 Net cash flows used in investing activities (15,245) (9,557) (5,688) Net cash flows used in financing activities (13,918) (17,031) 3,113 Net change in cash 5,908 10,306 (4,398) Consolidated Cash Flow (In Rupiah bn)
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4W Product Launches 2025 28 Models Launched Launching Period Prices (Rp m) - on the road Jakarta Toyota New Corolla Cross HEV Feb’25 603.5 – 648.0 Toyota New Camry HEV Feb’25 973.3 – 976.4 Toyota Agya Stylix GR Feb’25 200.6 BMW 320i M Sport Mar’25 1,205 BMW 218 Gran Coupé M Sport (NEW) Jun’25 1,048 BMW X3 20 xDrive (NEW) Jun’25 1,568 Toyota Corolla Altis HEV GR Sport Jul’25 644.9 – 648.0 Lexus LX700h Jul’25 3,392 – 3,928 Lexus LC500h Jul’25 3,503 – 3,815 Daihatsu Rocky e-Smart Hybrid (NEW) Jul’25 299.9 Daihatsu New Sigra Jul’25 174.4 – 189.2 UD Trucks GWE 350 ESCOT Jul’25 * Toyota Zenix Imp. Sep’25 473,4 – 628,2 Daihatsu Gran Max Blind Van AT (NEW) Sep’25 225.1 Daihatsu Rocky Sep’25 228.6 *Price upon inquiry
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29 Models Launched Launching Period Prices (Rp m) - on the road Jakarta Honda Monkey Feb’25 87.8 Honda Forza Mar’25 94.0 Honda CRF 250L Mar’25 86.7 Honda CRF 250 Rally Mar’25 96.5 Honda Verza (SW & CW) Apr’25 23.7 – 24.3 Honda XL 750 Apr’25 360.0 Honda CB500X Jun’25 206.3 Honda Rebel 500 Jun’25 208.6 Honda Rebel 1100 Jun’25 399.0 Honda GL1800 Jun’25 1,130.0 Honda BeAT Jul’25 19.0 Honda BeAT Street Jul’25 19.9 Honda CRF 150L Jul’25 37.7 Honda ADV 160 Sep’25 37.3 2W Product Launches 2025
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Equity Research Contact Details No Brokerage House Analyst Name Contact Number Email Address 1 Aldiracita Sekuritas Indonesia Agus Pramono +62 21 39705860 agus.pramono@aldiracita.com 2 Bahana Sekuritas Jeremy Mikael +62 21 2505 081 jeremy.mikael@bahana.co.id 3 BofA Securities Paul Dewberry +65 6678 0423 paul.dewberry@bofa.com 4 BRI Danareksa Nashrullah Putra +62 21 5091 4100 nashrullah.sulaeman@brids.co.id 5 CGS International Handy Noverdanius +62 21 3006 1727 handy.noverdanius@cgsi.com 6 Ciptadana Sekuritas Asia Arief Budiman +62 21 2557 4800 budimanarief@ciptadana.com 7 Citigroup Sekuritas Indonesia Ferry Wong +62 21 2924 9213 ferry.wong@citi.com 8 CLSA Sekuritas Indonesia Sarina Lesmina +62 21 5088 7888 sarina.lesmina@clsa.com 9 DBS Vickers Sekuritas Team Coverage +62 21 3003 4900 josepheugene@dbs.com 10 Henan Putihrai Sekuritas Alroy Soeparto +62 21 2525 888 alroy.soeparto@henanputihrai.com 11 Indopremier Sekuritas Aurelia Barus +62 21 5088 7168 aurelia.barus@ipc.co.id 12 J.P. Morgan Sekuritas Indonesia Benny Kurniawan +62 21 5291 8024 benny.kurniawan@jpmorgan.com 13 KB Valbury Sekuritas Akhmad Nurcahyadi +62 21 2945 1577 akhmad.nurcahyadi@kbvalbury.com 14 Macquarie Sekuritas Indonesia Ari Jahja +62 21 25988366 ari.jahja@macquarie.com 15 Mandiri Sekuritas Ariyanto Kurniawan +62 21 5296 9682 ariyanto.kurniawan@mandirisek.co.id 16 MNC Sekuritas Rudy Setiawan +62 21 2980 3111 muhammad.setiawan@mncgroup.com 17 Morgan Stanley Divya Gangahar Kothiyal +65 6834 6438 divya.gangahar@morganstanley.com 18 Maybank Sekuritas Paulina Margaretha +62 21 8066 8690 paulina.tjoa@maybank.com 19 NH Korindo Sekuritas Indonesia Arief Machrus +62 21 5088 9127 arief.machrus@nhsec.co.id 20 OCBC Sekuritas Indonesia Inav Chandra +62 21 2234 5430 inav.chandra@ocbcsekuritas.com 21 Panin Sekuritas Andhika Audrey +62 21 515 3055 andrey@pans.co.id 22 RHB Sekuritas Indonesia Andrey Wijaya +62 21 2598 6888 andrey.wijaya@id.oskgroup.com 23 UBS Sekuritas Indonesia Igor Putra +62 21 2554 7033 Igor.putra@ubs.co.id 24 UOB Kay Hian Sekuritas Willinoy Sitorus +62 21 2993 3845 willinoysitorus@uobkayhian.com 25 Verdhana Sekuritas Indonesia Jupriadi Tan +62 21 5098 5799 jupriadi.tan@verdhana.id 26 Stockbit Edi Chandren +62 21 5790 6242 edi.chandren@stockbit.com 27 Sucor Sekuritas Christofer Kojongian +62 21 8067 3000 christofer.kojongian@sucorsekuritas.com 30
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For further information please contact: PT Astra International Tbk Corporate Investor Relations P: (+62 21) 5084 3888 E: investor@ai.astra.co.id