Jardine Math.sr Regulatory News (JAR)

To: Business Editor 29th April 2024 For immediate releasePT Astra International Tbk 2024 First Quarter Financial Statements The following announcement was issued today by the Company's 79%-owned subsidiary, Jardine Cycle & Carriage Limited, which holds 50.1% of PT Astra International Tbk.For further information, please contact:Jardine Matheson LimitedJonathan Lloyd (852) 2843 8223Brunswick Group LimitedBen Fry (65) 9017 9886 29th April 2024

PT ASTRA INTERNATIONAL Tbk ("the Company" or "Astra") 2024 FIRST QUARTER FINANCIAL STATEMENTS Highlights

● Net earnings per share of Rp201, 5% lower than the same period last year (excluding fair value adjustments)

● Car sales down 20% and motorcycle sales down 8%, reflecting a softer national market

● Higher contribution from financial services

● Mining performance impacted by lower coal prices

● Strong financial and funding position

"The Group's overall results in the first quarter of 2024 were lower, mainly reflecting subdued economic conditions and coal prices that have declined from previous highs. Notwithstanding these challenges, the Group remains positive on the growth of Indonesia's economy. Supported by a strong balance sheet, the Group's diversified portfolio is well-positioned to take advantage of opportunities for long-term growth." Djony Bunarto TjondroPresident Director Astra group ("Group") Results

*Profit attributable to owners of the parent.

The financial results for the three months ended 31st March 2024 and 2023 as well as the financial position as at 31st March 2024 have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. The financial position as at 31st December 2023 has been prepared in accordance with Indonesian Financial Accounting Standards and audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.

PRESIDENT DIRECTOR'S STATEMENTPerformance The Group's consolidated net revenue for the first quarter of 2024 was Rp81.2 trillion, a decrease of 2% compared with the first quarter of 2023. The Group's net income, excluding fair value adjustments on investments in GoTo and Hermina, was Rp8.1 trillion, 5% lower than in the first quarter of 2023. Including these fair value adjustments, the Group's net income declined by 14% to Rp7.5 trillion. The lower result mainly reflects decreased performance in the Group's heavy equipment and mining and automotive businesses.

The net asset value per share at 31st March 2024 was Rp5,113, 4% higher than at 31st December 2023.

Net cash, excluding the Group's financial services subsidiaries was Rp7.4 trillion at 31st March 2024, compared to Rp29 billion at the end of 2023. Net debt of the Group's financial services subsidiaries was Rp54.3 trillion at 31st March 2024, compared to Rp52.2 trillion at the end of 2023.

Business Activities The Group's net income by division in the first quarter of 2024, compared with the same period last year, is set out in the table below:

*Profit attributable to owners of the parent.

Automotive Net income from the Group's automotive division decreased by 9% to Rp2.8 trillion, reflecting lower sales volumes.

● The wholesale market for cars decreased by 24% to 215,000 units in the first quarter of 2024 (source: Gaikindo). Astra's car sales were 20% lower at 120,000 units, while market share increased from 53% to 56%. Four new models and three revamped models were launched during the quarter.

● The wholesale market for motorcycles decreased by 5% to 1,735,000 units in the first quarter of 2024 (source: Ministry of Industry). Astra Honda Motor's sales decreased by 8% to 1,324,000 units, with market share decreasing from 79% to 76%. One new model and one revamped model were launched during the quarter.

● The Group's 80%-owned components business, Astra Otoparts, reported a 10% increase in net income to Rp475 billion in the first quarter of 2024, mainly due to higher earnings from exports which offset lower domestic original equipment manufacturer sales.

Financial Services Net income from the Group's financial services division increased by 12% to Rp2.1 trillion in the first quarter of 2024 compared with the first quarter of 2023, due to higher contribution from consumer financing on larger loan portfolios.

● The Group's consumer finance businesses saw an 8% increase in new amounts financed to Rp33.3 trillion. The net income contribution from the car-focused finance companies increased by 3% to Rp571 billion. The net income contribution from the Group's motorcycle-focused finance business, Federal International Finance, increased by 17% to Rp1.1 trillion.

● The Group's heavy equipment-focused finance companies saw a 4% increase in new amounts financed to Rp3.3 trillion. The net income contribution from this segment increased by 2% to Rp47 billion.

● The Group's general insurance company, Asuransi Astra Buana reported a 12% increase in net income to Rp384 billion, mainly due to higher underwriting income and investment income. The Group's life insurance company, Asuransi Jiwa Astra, recorded a 10% decrease in gross written premiums to Rp1.5 trillion.

Heavy Equipment, Mining, Construction and Energy Net income from the Group's heavy equipment, mining, construction and energy division was 15% lower at Rp2.8 trillion, mainly due to a lower contribution from its mining and construction machinery businesses.

● 59.5%-owned United Tractors reported a 15% decrease in net income to Rp4.5 trillion.

● Komatsu heavy equipment sales decreased by 37% to 1,100 units, while revenues from its parts and service businesses were also lower.

● Mining contractor Pamapersada Nusantara reported 17% higher overburden removal volume at 286 million bank cubic metres and 21% higher coal production at 32 million tonnes.

● United Tractors' coal mining subsidiaries reported a 33% increase in coal sales at 4.0 million tonnes (including 765,000 tonnes of metallurgical coal), but revenue declined due to lower coal prices.

● United Tractors' gold mining subsidiary, Agincourt Resources, reported 16% lower gold sales at 49,000 oz.

● United Tractors' nickel mining business comprises (i) majority-owned Stargate Pasific Resources ("SPR"), which was newly acquired in December 2023, and (ii) 19.99%-owned Nickel Industries Limited ("NIC"), which was acquired in September 2023. SPR reported 383,000 wet metric tonnes (wmt) of nickel ore sales in the first quarter of 2024, comprising 203,000 wmt of saprolite and 180,000 wmt of limonite. United Tractors books equity income from NIC in arrears, owing to the timing of NIC's results announcements. NIC reported 34,400 tonnes of nickel metal sold in the final quarter of 2023.

● General contractor Acset Indonusa, 87.7%-owned by United Tractors, reported an increased net loss of Rp42 billion, compared with a net loss of Rp30 billion in the first quarter of last year.

Agribusiness Net income from the Group's agribusiness division increased by 3% to Rp184 billion, mainly due to higher sales of crude palm oil ("CPO") and its derivatives.

● Net income of 79.7%-owned Astra Agro Lestari increased by 3% to Rp231 billion.

● CPO and its derivative product sales increased by 4% to 379,000 tonnes.

● CPO prices were slightly lower at Rp11,911/kg.

Infrastructure and Logistics The Group's infrastructure and logistics division reported a 24% increase in net income to Rp251 billion, primarily due to improved performance in its logistics and toll road businesses.

● The Group saw 2% higher daily toll revenue from its 396km of operational toll roads along the Trans-Java network and the Jakarta Outer Ring Road.

● Serasi Autoraya reported 4% higher vehicles under contract at 26,400 units, higher vehicle disposals and higher contribution from car auctions.

Information Technology The Group's information technology division, represented by 76.9%-owned Astra Graphia, reported a 16% increase in net income to Rp22 billion primarily due to improved operating margin. Property Net income from the Group's property division was relatively stable at Rp45 billion, mainly due to an improvement in occupancy at Menara Astra, offset by lower residential units handed over in Arumaya Residences. Corporate Action

In March, the Group, through United Tractors, completed the acquisition of a 20.2% stake in PT Supreme Energy Rantau Dedap ("SERD"), which owns an operating geothermal project in South Sumatera with an existing capacity of 2 x 49 MW, for USD80.7 million. Following this transaction, the Group's total direct and indirect shareholding in SERD is 32.7%.

Prospects The Group's overall results in the first quarter of 2024 were lower, mainly reflecting subdued economic conditions and coal prices that have declined from previous highs. Notwithstanding these challenges, the Group remains positive on the growth of Indonesia's economy. Supported by a strong balance sheet, the Group's diversified portfolio is well-positioned to take advantage of opportunities for long-term growth. Djony Bunarto TjondroPresident Director29th April 2024

For further information, please contact:

PT Astra International Tbk

Riza Deliansyah, Chief of Corporate Affairs

Email: corcomm@ai.astra.co.id

About Astra

Astra is one of Indonesia's largest public companies, comprising 283 subsidiaries, joint ventures, and associate companies, supported by more than 200,000 employees. The company's diversified business model creates synergies and opportunities across industry sectors, including automotive, financial services, heavy equipment, mining construction and energy, agribusiness, infrastructure and logistics, information technology, and property. The company has a sustainability framework that contains Astra's 2030 Sustainability Aspirations, which will guide Astra's transition journey to be a more sustainable business going forward. Astra wishes to contribute to the strength and resilience of the Indonesian economy while supporting an inclusive and prosperous society.

Astra has a strong record of public and social contribution through four pillars, which consist of health, education, environment, and entrepreneurship, as well as nine foundations to contribute to the growth of the Indonesian economy while encouraging a more inclusive and prosperous society. Established in 2010, Astra's Semangat Astra Terpadu Untuk (SATU) Indonesia Awards programme has recognised the contribution of 657 young Indonesians across each of these focus areas, including 92 national- level recipients and 565 provincial-level recipients. The SATU Indonesia Awards programme is integrated with Astra's wide range of community activities through 200 Kampung Berseri Astra and 1,196 Desa Sejahtera Astra initiatives in 35 provinces throughout Indonesia.

For more about Astra, visit www.astra.co.id & www.satu-indonesia.com, and follow us on Instagram (@SATU_Indonesia), YouTube (SATU Indonesia), Facebook (Semangat Astra Terpadu) and Twitter (@SATU_Indonesia).