Held Investor Day, Pertamina is Ready to Unlock Value and Accelerate New Business

Jakarta, June 24, 2021 – Pertamina's success in maintaining positive performance during the pandemic has received excellent responses from the public, including investors. In the future, Pertamina is ready to strengthen its business foundation by accelerating new businesses.

Despite facing the challenges of the COVID-19 Pandemic, Pertamina managed to save USD 4.7 billion in costs and recorded an EBITDA of USD 7.6 billion and a net profit of USD 1.05 billion in 2020.

Not only scoring a positive performance, but Pertamina also carved a new milestone with the formation of 6 sub holdings, namely in the Upstream, Gas, Commercial & Trading, Refining & Petrochemical, Integrated Marine, and New & Renewable Energy sectors.

At the Pertamina Investor Day 2021 event, Deputy Minister I of SOE Pahala N Mansury highlighted that the establishment of a subholding, which had full support from the Government as Pertamina's shareholder, represented Pertamina's commitment to increase total market value.

"We have aspirations to increase the overall market value of Pertamina's holdings and sub holdings to reach around US$ 100 billion. Several corporate actions are needed. It includes finding partners, whether it is through Indonesia Investment Authorities or several corporate actions. We hope that all of these initiatives are going to be supported by all of our investors. We hope that all of this will eventually be very positive to the value of your investment in Pertamina," he said on Wednesday (23/6).

In addition, another effort to increase the company value includes ensuring that Pertamina can quickly adapt to changing market conditions.

President Director of Pertamina, Nicke Widyawati, on the same occasion said that the effort can be seen by the formation of Pertamina New Ventures, which is one of Pertamina's business units to accelerate the development of Pertamina's new businesses. This business unit is based on open innovation, both internal and external to the company to achieve a sustainable business.

"Pertamina understands that the market, customer, competition and technology are constantly changing rapidly at such a high pace. In order to sustain and grow our business, we have to adapt and respond to these rapid changes effectively" said Nicke.

Pertamina Investor Day 2021, with the theme Energizing Sustainable Growth, is a form of transparency, accountability, and corporate responsibility by providing strategic information for investors. In this activity, Pertamina also invited potential business partners to better understand the company's projects and be interested in collaborating with the company. The virtually held event was attended by around a hundred participants from Pertamina's financial and business investors, as well as Ministries and several Indonesian representative institutions abroad.

Present during the event was Deputy Minister I of SOE, Pahala Nugraha Mansyuri, President Director of Pertamina, Nicke Widyawati, Pertamina Director of Finance, Emma Sri Martini, Pertamina Director of Strategy, Portfolio & New Ventures, Iman Rachman, Pertamina Senior VP Strategy & Investment, Daniel Syahputra Purba and Director of Strategic Planning and Business Development of PT Pertamina International Refinery, Joko Widi Wijayanto.**