Pertamina Maintains BBB Rating with Stable Outlook

Jakarta, February 2, 2024 - Pertamina has successfully retained its Investment Grade rating of BBB with a stable outlook from a global rating agency, Fitch Ratings. According to the publication released by Fitch on January 31, 2024, the agency has reaffirmed Pertamina's Long-Term Foreign-Currency Issuer Default Rating following Pertamina's financial stability as a world-class energy company conducting sustainable business.

Pertamina has also been consistent in maintaining a strong EBITDA and significant CAPEX initiatives.

Vice President of Investor Relations of Pertamina, Juferson Mangempis, revealed that this rating outcome is a result of the company's efforts towards transparency and enhancing information quality provided to both rating agencies and investors.

"The BBB rating with a stable outlook will undoubtedly help maintain investor confidence, enabling Pertamina to continue developing sustainable future energy businesses," said Juferson.

Similarly, the Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, added that Pertamina's success in maintaining financial and business stability is also due to the government’s support, including supportive regulations, backing for national strategic projects and on-time energy compensation fund disbursements.

"Pertamina and the government have a strong relationship. Pertamina plays a crucial role in providing and maintaining national energy resilience while simultaneously driving national economic growth," said Fadjar.

Fadjar further stated that Pertamina will continue to develop its businesses to support the government's target of achieving NZE 2060. Pertamina will uphold national energy resilience while innovating decarbonization efforts and transitioning energy.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social, and Governance (ESG) implementation across all Pertamina's business lines and operations.**