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INVESTOR PRESENTATION CONSOLIDATED 9M-2025
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2 Disclaimer & Limitation of Liability • This report is published to ensure transparency and accountability, providing stakeholders with material data and information. • Content is based on internal analysis and credible sources, both internal and external. • The report contains forward-looking statements that are subject to uncertainties and risks. • Actual results, performance, or achievements may differ from projections due to: ✓ Changes in national and regional economic and political conditions ✓ Fluctuations in foreign exchange rates ✓ Shifts in commodity market prices, demand, and supply ✓ Evolving competitive landscapes ✓ Changes in laws, regulations, accounting principles, policies, or guidelines ✓ Revisions to the assumptions underlying forward-looking statements • PT Perusahaan Gas Negara Tbk is referred to as “PGN”, “the Company”, “PGN Group”, “Subholding Gas”, or “Pertamina Gas Negara” in this report.
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3 Agenda Executive Summary PGN in Brief Macro Economy Highlights Financial & Operational Performance Strategic Projects Updates
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Executive Summary 4 4 Financial Highlight USD 238 Million Net Profit USD 2.923 Million Revenue USD 729 Million EBITDA USD 6.141 Million Total Assets USD 1.278 Million Cash & Cash Equivalent USD 174 Million CAPEX Operational Highlight 833 BBTUD Gas Trading 1.622 MMSCFD Gas Transmission 254 BBTUD Regasification (include TUA) 3.334 Industries & Commercials 2.845 Pelanggan Kecil Small Businesses 817.087 Rumah Tangga Households Jumlah Pelanggan Number of Customers 823.266 In the midst of challenging economy, consolidated revenues in 9M-2025 was consistently growing, contributed mainly from gas trading (distribution), while higher cost of gas to obtain LNG volume utilized in the supply mix affecting to a pressure on net profit. EBITDA coverage ratio and financial position shows financial health and stability. Capex was spent on prudent guideline. The gas piped supply-demand unbalance and price elasticity in gas trading affected to lower gas sales volume while number of small business & household customers increased inline with more completion of customer attachment. By optimizing utilization gas infrastructures, including FSRU & transmission pipeline which operated by Subsidiaries, throughput gas and oil volume of shippers were increased. Nonetheless, oil and gas lifting were lower as expected due to natural decline of oil & gas blocks. 173.801 BOEPD Oil Transportation 16.892 BOEPD Oil & Gas Lifting
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PGN in Brief
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66 Market Share >91,24% Major player in gas trading Pipeline Network Total > 33.505 km • Gas Pipeline: 13,194 km • Oil Pipeline: 605 km • City Gas Pipeline: 19,706 km Gas Infrastructure • 2 LNG FSRUs + 1 land-based regas. terminal • 14 Gas Fueling Stations, 4 MRUs • 2 LPG processing plant (stripping & compression) Strong Presence Experience & Expertise in the industry 60yrs Business Portfolio • Upstream (11 E&P blocks) • Midstream • Downstream • Others Connecting Indonesia to a Greener Energy Provide Greener Energy • Natural Gas ; 450-550gr CO2/kWh • Coal : 600-1.100 gr CO2/kWh • Oil : 700-900 gr CO2/kWh Natural gas has Lowest Carbon Emission With our extensive experience, focus on unlocking value on downstream and midstream infrastructure, and diverse business operations, we are well- positioned to lead the way in providing clean and reliable energy solutions for the nation
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The GroupBusiness Portfolio Organization & Business Portfolio UPSTREAM Saka Energi Indonesia is a subsidiary of PGN that has business activities in the upstream business. DOWNSTREAM Mobile Refueling Unit (MRU) & Gas Transport Module (Gas Link) Gas for Transportation (Gas Fueling Station) Our Subsidiary, Gagas Energi Indonesia operates 16 Gas Filling Stations in 11 cities in Java and Sumatera. Commercial Customer Efficiency and reliability are key in delivering energy to commercial customers, and we meet those needs. Power Plants Gas-fired power plant is more environment friendly compared to oil or coal. Household Customer PGN has distributed gas household customers in 67 cities/regencies all over Indonesia. Industrial Sector Indonesia’s growth is driven by its industrial sector, and we strive to promote fuel efficiency by distributing natural gas to key industrial areas. MIDSTREAM Operate transmission pipelines, FSRU and land-based regasification facility in Arun. To boost revenue, the company expands into LNG Trading & Services, including Global LNG Trading, LNG Hub & Storage, and LNG Bunkering for marine fuel. Beyond Pipeline Distribute gas through pipeline & beyond pipeline and trading gas to the end miles of end user CUSTOMERS MRU is the solution for natural gas filling station for transportation using CNG technology. Distribution Pipeline Network Pipeline Network Through distribution pipeline, natural gas is delivered to customers covering power, industry, commercial, households & transportation sector.
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8 Tony Setia Boedi Hoesodo Independent Commissioner Hery Murahmanta Director of Infrastructure and Technology Catur Dermawan Director of Finance Rachmat Hutama Director of HR and Business Support Mirza Mahendra Director of Strategy and Business Development Aldiansyah Idham Director of Commerce Arief Kurnia Risdianto President Director Eri Surya Kelana Director of Risk Management Board of Commissioners Board of Directors Strong Leadership Team PGN led by experienced management team, bringing wealth of expertise to the company Tony Setia Boedi Hoesodo President Commissioner concurrently serving as Independent Commissioner Edward Omar Sharif Hiariej Commissioner Thanon Aria Dewangga Independent Commissioner Widjono Hardjanto Independent Commissioner Rambe Kamarulzaman Commissioner Conny Lolyta Rumondor Independent Commissioner
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To be a provider of clean energy solution for a greener and more sustainable world Providing gas-based energy that adds value to all customers and Accelerating the energy transition in Indonesia Stakeholder Advocation: Active and Centralized Stakeholder Management Capability Expansion: Portfolio Integration, Resource Development, and Sustainability Investment Acceleration: Prudent Investment Execution VISI MISSIONSTRATEGIC PILLARS - GAS Vision, Mission and Strategic Pillars Step-out and scale to new business VISION Focusing on developing LNG infrastructure as point of supply domestic need, developing infrastructure in East Indonesia and hub for domestic & international market. Focusing on integrated infrastructure connectivity Sumatera – Jawa and developing infrastructure on East Indonesia Region. Developing Capability and Low Carbon Business Energy which align with Net Zero Emission (NZE) map. • LNG Bunkering and Trading • Domestic Upstream LNG Infrastructure • Total Solutions Energy Services Adapt business, pursue adjacent opportunities • Gas Transmission, Distribution and Regas Infrastructure • City Gas Network • Upstream Development & Oil/BBM Infrastructure Support Grow and Maintain existing business • Gas to Chemicals • Biomethane • Hydrogen Production and Transport • CO2 Transport
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Macro Economy Highlights
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Macro Economy Highlights 11 1. Key Economic Factors • GDP Growth: - Global growth in 2025 is projected at 3.0% in 2025 (IMF) - Indonesia’s GDP in 3Q 2025 is projected at 5.0% – 5.1% YoY (Ministry of Finance) • Central Bank rate: 4.75% in September (Bank Indonesia) • Inflation rate: 2.31% - 2.65% (BPS) • Rupiah exchange rate: closed at Rp 16,692/USD (Bank Indonesia) • Indonesian Crude Price USD 69/barrel Ytd September (MEMR) 2. Global Headwinds (Risks/Challenges) • Persistent global trade tensions and tariff pressures • Rising global geopolitical tensions 3. Opportunity • Global & National energy trends shifting toward cleaner energy • Natural gas serve as key for transition energy
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Financial & Operational Performance
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Highlights ▪ Increasing Consolidated Revenues YoY contributed mainly by revenues from the gas trading, regasification services and oil transportation. ▪ Lower Consolidated Net Profit YoY was primarily driven by the increase of cost of gas, in line with the use of LNG as supply mix and forex lost due to appreciation of JPY against USD. • Consolidated Financial Position YoY reflecting the Company’s financial health and stability. ▪ Consolidated Cashflow reflecting strong cashflow position driven by positive operating cashflow. 9M-2025 Financial Performance YoY (US$ Juta | Million) Consolidated Income Statement Consolidated Financial Position (US$ Million) Consolidated Cashflow (US$ Million) 2.817 2.229 587 416 263 852 2.923 2.421 502 383 238 729 Pendapatan Revenues BPP COGS Laba Bruto Gross Profit Laba Operasi Operating Profit Laba Bersih Net Profit EBITDA +4% +9% -14% -8% -10% -14% 9M2024 9M2025 Financial Position 31 Dec 2024 30 Sep 2025 TOTAL ASET 6.416 6.141 TOTAL LIABILITIES 2.744 2.530 TOTAL EQUITY 3.672 3.610 Cashflow 30 Sep 2024 30 Sep 2025 Beginning Balance 1.245 1.383 Cashflow from operating 576 439 Cashflow from investment (6) (54) Cashflow from financing (640) (493) Foreign Exchange impact 11 3 Ending Balance 1.186 1.278
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Highlights ▪ In terms of revenue contribution, the gas trading and transmission business segment remained the largest contributor to the Company’s consolidated revenue at 76%, followed by the upstream segment at 7%, and other business segments at 17%. • EBITDA was contributed 83% by the gas trading, gas transmission, and other segments, and 17% by the upstream segment. • Financial Ratios remain in compliance with the required covenants, reflecting the Company’s financial health and strength. • CAPEX spent up to September 2025 was US$ 174 million with 65% allocated to the downstream and other segments, while 35% was allocated to the upstream segment. 9M-2025 Financial Performance *Interest Bearing Debt Financial Ratios Revenue Contribution EBITDA Contribution Financial Ratios 30 Sep 2024 30 Sep 2025 EBITDA Margin 30% 25% EBITDA/Interest Expenses 15,01x 16,97x Debt-to-Equity* 34,87% 32,80% Gas Sales & Transmition Upstream Others CAPEX (US$ Million) Downstream & Others Upstream 76,0% 7,0% 17,0% 83% 17% Downstream & Others Upsteeam 93 113 65 61 9M 2024 9M 2025 157 174
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Highlights • The gas trading/ sales volume was lower than corresponding period last year due to the decrease supply from main suppliers and lower absorption from customers . • PGN's gas supply was primarily from pipeline gas, accounting for 90%, and 10% came from LNG. In terms of the gas supply source, 42% was from the Pertamina Group, with the remaining sourced from other gas suppliers, mainly from the Corridor block. • From the customer side, as of 9M-2025, PGN’s six largest industrial customers were power plants, chemicals, ceramic, food, glass, and fabricated metal. 9M-2025 Operational Performance - Gas Trading Industrial Consumption to Gas Trading 97% Gas Sources Gas Trading (Sales Volume to Customers) BBTUD854 833 9M20249M2025 -2,5% 10% 90% LNG Piped Gas 42% 58% PTM Group Non PTM Group 27%17% 10% 9% 26% 6% 5% Power Chemical Ceramic Food Glass Fabricated Metal Others
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Highlights • Gas transmission volume, contributed by increasing transmission volume of existing shippers mainly for oil refinery in Kalimantan and for power plant in Java, as well as for industrial estates in East Java through Cirebon-Semarang pipeline segment. • From the upstream business segment, the volume of oil and gas lifting, mainly affected by decreasing production due to natural decline of the blocks. • In the oil transportation segment, the volume was increased, primarily driven by increased lifting from shippers. • In the LNG regasification business, the regasification volume was primarily contributed by both regas services in Arun and optimalization of the Lampung FSRU under the Terminal Usage Agreement (TUA). • The sales of LPG processing was primarily driven by increased of processing gas feed inline with LPG plant optimization. 9M-2025 Operational Performance - Others LNG Regasification + TUA-FSRU Lampung Gas Transmission Oil & Gas Lifting LPG Processing Oil Transportation 1,527 9M2024 1,622 9M2025 +6% MMSCFD 69 100 144 154 9M2024 9M2025 213 254 +19% Regasification (BBTUD) TUA (BBTUD) BOEPD 29 33 9M2024 9M2025 +14% THOUSAND TON 150.716 9M2024 173.801 9M2025 +15% BOEPD BBTUD 20.074 9M2024 16.892 9M2025 -16%
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Strategic Projects Updates
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Strategic Projects Update 1. Oil Transportation – Cikampek Plumpang (2024–2027) 2. Gas Pipeline Infrastructure Tegal Cilacap (2026-2028) 3. City Gas Project (Annual) 4. LNG Hub Arun (Revitalization of Tank F-6004) (2025) 5. Biomethane Project (2025-2027) Product / Capacity Product / Capacity Product / Capacity Product / Capacity Product / Capacity Pipa 16” – 96 Km (79.8 thousand BOPD) 60 mmscfd 0.2 BBTUD 127.200 m3 1,2 BBTUD Capex Capex Capex Capex Capex Total Capex : USD 90 million Capex for 2025 :USD 20 million Realization up to Sept : USD 9,9 Million Total Capex : USD 111 million Capex for 2025 :USD 7 million Capex for 2025: USD 29 million Realization up to Sept : USD 10,3 Million Total Capex : USD 42 million Capex for 2025 :USD 12 million Realization up to Sept : USD 7,4 Million Total Capex : USD 5 million Capex for 2025 :USD 1 million Progress & Target Progress & Target Progress & Target Progress & Target Progress & Target Up to Sept 2025 : EPC Award 1 Juli 2025, First Welding 10th Sept 2025 Target Q3 2027 : Commissioning Up to Sept 2025 : • Commercial Arrangement • Approval of Conformity of Spatial Utilization Activities (PKKPR) Target Q3 2028 : Commissioning Up to Sept 2025: • 26.182 connection (2025) • Total 156.445 connections from 2021 Target in 2025: Addition of pipeline length 590 Km with potential 200.000 connection. Up to Sept 2025: Construction progress 86,0% (Tank) dan 97,01% (Non Tank) Target Q4 2025 : Commissioning of Tank & Non Tank Up to Sept 2025: Injection Point Construction Progress 5% Target Completion Q2 2026 Target Q2 2027 : Commissioning Plumpang Cikampek
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Hubungan Investor | Investor Relations: PT Perusahaan Gas Negara Tbk Gedung A 4th Floor Jl. KH Zainul Arifin No. 20, Jakarta, Indonesia Email: PGN.InvestorRelation@pertamina.com URL: https://ir.pgn.co.id/ Phone: +62 21-39735233 Kantor Pusat | Headquarter Jl. K.H. Zainul Arifin No. 20, Jakarta, Indonesia Thank You