Ratings of Astra Sedaya Finance’s maturing bond and sukuk are affirmed at “idAAA” and “idAAA(sy)”

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1. Press Release February 8 , 2021 PT Astra Sedaya Finance Analyst: Putri Amanda / Handhayu Kusumowinahyu Tel/Fax/E-mail: (62-21) 7278 2380 / 7278 2370 / putri.amanda@pefindo.co.id / handhayu.kusumowinahyu@pefindo.co.id CREDIT PROFILE Corporate Rating FINANCIAL HIGHLIGHTS id AAA/Stable Rated Issues SR Bond IV Phase IV/2020 Series A idAAA SR Bond IV Phase I/2018 Series B idAAA SR Sukuk Mudharabah I Phase I/2018 Series B idAAA(sy) Rating Period February 4, 2021 – April 7, 2021 for SR Bond IV Phase IV/2020 Series A February 4, 2021 – May 25, 2021 for SR Bond IV Phase I/2018 Series B and SR Sukuk Mudharabah I Phase I/2018 Series B Rating History APR 2020 SEP 2019 MAR 2018 MAR 2017 MAR 2016 AAA/Stable AAA/Stable idAAA/Stable idAAA/Stable idAAA/Stable id id As of/for the year ended Total Assets [IDR Bn] Net Receivables [IDR Bn] Net Service Assets [IDR Bn] Total Equity [IDR Bn] Net Interest Revenue [IDR Bn] Net Income [IDR Bn] Cost to Income [%] Operating Profit Margin [%] ROAA (including off-balance) [%] NPR-Balance/Net Service Assets [%] Reserves/Net Service Assets [%] Equity/Net Service Assets [%] Total Debt (on balance) /Equity [x] Short-Term Liquidity Ratio [%] USD Exchange Rate [IDR/USD] Sep-2020 Dec-2019 Dec-2018 Dec-2017 32,669.0 30,462.0 38,604.6 6,900.0 2,594.0 593.0 26.8 17.5 *2.0 2.5 4.2 17.9 3.5 120.9 14,918 31,985.0 30,529.0 39,809.5 7,026.0 3,254.0 1,286.0 29.3 30.1 3.2 2.0 3.1 17.6 3.3 125.6 13,901 31,105.0 29,318.0 39,285.0 6,959.0 3,037.0 1,113.0 27.1 27.9 2.8 2.2 3.2 17.7 3.3 123.0 14,481 29,614.0 27,631.0 39,157.1 5,752.0 2,928.0 957.0 25.4 22.7 2.4 1.0 3.0 14.7 4.0 114.5 13,548 Unaudited Audited Audited Audited *Annualized ROAA=return on average assets. NPR=non-performing receivables > 30 days. NSA = net service assets The above ratios have been computed based on information from the company and published accounts. Where applicable, some items have been reclassified according to PEFINDO’s definitions. Ratings of Astra Sedaya Finance’s maturing bond and sukuk are affirmed at “idAAA” and “idAAA(sy)” PEFINDO has affirmed its “idAAA” ratings for PT Astra Sedaya Finance (Astra Sedaya Finance)’s Shelf Registered Bond IV Phase IV/2020 Series A (IDR882 billion) and Shelf Registered Bond IV Phase I/2018 Series B (IDR550 billion) that will mature on April 7, 2021 and May 25, 2021, respectively. PEFINDO has also affirmed its “idAAA(sy)” rating for Astra Sedaya Finance’s Shelf Registered Sukuk Mudharabah I Phase I/2018 Series B amounting to IDR175 billion maturing on May 25, 2021. The Company’s readiness to repay its maturing bond and sukuk is supported by its cash and cash equivalent of IDR736 billion at end of December 2020 and financing receivable collections of IDR2.6 trillion per month. A debt security rated idAAA has the highest rating assigned by PEFINDO. The issuer’s capacity to meet its long-term financial commitments on the debt security, relative to other Indonesian issuers, is superior. The suffix sy means the rating indicates Islamic principles compliant. Astra Sedaya Finance provides financing for car sales and heavy equipment leasing distributed by Astra Group and other third parties. It has 76 branches and offices and around 14,000 authorized car dealers in major cities throughout Indonesia. As of September 30, 2020, its ownership structure consisted of PT Astra International Tbk (ASII) (46.875%), PT Garda Era Sedaya (28.125%), and PT Sedaya Multi Investama (25.00%), both are also ASII’s subsidiaries. http://www.pefindo.com February 2021
2. Press Release February 8 , 2021 DISCLAIMER The rating contained in this report or publication is the opinion of PT Pemeringkat Efek Indonesia (PEFINDO) given based on the rating result on the date the rating was made. The rating is a forward-looking opinion regarding the rated party’s capability to meet its financial obligations fully and on time, based on assumptions made at the time of rating. The rating is not a recommendation for investors to make investment decisions (whether the decision is to buy, sell, or hold any debt securities based on or related to the rating or other investment decisions) and/or an opinion on the fairness value of debt securities and/or the value of the entity assigned a rating by PEFINDO. All the data and information needed in the rating process are obtained from the party requesting the rating, which are considered reliable in conveying the accuracy and correctness of the data and information, as well as from other sources deemed reliable. PEFINDO does not conduct audits, due diligence, or independent verifications of every information and data received and used as basis in the rating process. PEFINDO does not take any responsibility for the truth, completeness, timeliness, and accuracy of the information and data referred to. The accuracy and correctness of the information and data are fully the responsibility of the parties providing them. PEFINDO and every of its member of the Board of Directors, Commissioners, Shareholders and Employees are not responsible to any party for losses, costs and expenses suffered or that arise as a result of the use of the contents and/or information in this rating report or publication, either directly or indirectly. PEFINDO generally receives fees for its rating services from parties who request the ratings, and PEFINDO discloses its rating fees prior to the rating assignment. PEFINDO has a commitment in the form of policies and procedures to maintain objectivity, integrity, and independence in the rating process. PEFINDO also has a “Code of Conduct” to avoid conflicts of interest in the rating process. Ratings may change in the future due to events that were not anticipated at the time they were first assigned. PEFINDO has the right to withdraw ratings if the data and information received are determined to be inadequate and/or the rated company does not fulfill its obligations to PEFINDO. For ratings that received approval for publication from the rated party, PEFINDO has the right to publish the ratings and analysis in its reports or publication, and publish the results of the review of the published ratings, both periodically and specifically in case there are material facts or important events that could affect the previous ratings. Reproduction of the contents of this publication, in full or in part, requires written approval from PEFINDO. PEFINDO is not responsible for publications by other parties of contents related to the ratings given by PEFINDO. http://www.pefindo.com February 2021