For Immediate release 26 October’ 2020

AKRA Posted Strong 31% Growth Y/Y in Net Profit for the Period 9M 20 at Rp685 bn

JAKARTA, 26 October’ 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), distributor of Petroleum,
Basic chemicals and provider of Logistic & supply chain services in Indonesia, once again showing
Company’s ability in maintaining its strong growth performance amid pandemic situation during 9M 2020.
The Company’s Net Profit growth improved further in 9M 2020, at +31% y/y at Rp685 billion.

On AKRA 9M 20 financial statement, all margins recorded growth, the Gross Profit grew by 15%, Operating
Profit by 26% and Net Profit before minority interest grew by 31%, and Profit for parent entity reached
Rp665 billion. This was achieved by healthy contribution from all business, strict control over Operating
Expenses, tight Working Capital Management and low leverage.

Mr. Haryanto Adikoesoemo, President Director of AKRA stated, “AKRA delivered this very strong
performance amid covid situation without disruption and ensuring the delivery of fuel and raw material to
our industrial customers across Indonesia. We are happy to report a strong performance driven by strong
growth in volume of Petroleum segment and contribution from other business segments; during the 9
months AKR managed its risk effectively, despite significant fluctuation in prices of Petroleum and chemical
products; also the company reported positive contribution from JIIPE industrial estate in Gresik.”

“We are continuing to maintain our growth momentum but are mindful of the impact of COVID on the
economic growth and demand for essential raw material and fuel; AKR balance sheet continues to be
strong, with low gearing ratio 25% and for the 9 months ended 30th September 2020, operating cash flows
improved; We believe that the Job Creation Bill will boost Investments, Jobs and overall Prosperity in
Indonesia which will help revival of industrial activity and demand from domestic and foreign investors for
Industrial estate; we continue to work closely with our Partner and also government authorities to improve
the connectivity, complete expansion of the port facilities in JIIPE and improve the ease of doing business.
We are confident that this will improve the attractiveness of JIIPE for domestic and foreign investors.”
PT AKR Corporindo Tbk October 26, 2020

CONSOLIDATED FINANCIAL RESULT

The Company reported the unaudited financial results for the year ended 30th September 2020 to
Indonesian Stock Exchange today with the following key figures;

In Rp bn (Numbers are stated as Rounding Up figures) 9M20 9M19

Sales and Revenues 13,863 15,119
Gross Profit 1,474 1,285
Gross margin 10.6% 8.5%
Operating Profit 917 728
Operating margin 6.6% 4.8%
Other income (expenses) (61) (58)
Profit before income tax 857 669
Profit for The Period (before Minority Interest) 685 522
Net Margin for the Period 4.9% 3.5%
Profit for the period attributable to equity holders of the parent entity 665 565
Net Margin for Equity holder 4.8% 3.7%
EPS 167.81 142.08

BALANCE SHEET AS OF 30th SEPTEMBER 2020

In Rp bio
Current Assets Current Liabilities
Cash and cash equivalents 1,371 Trade payables 3,120
Trade receivables 2,694 Short term bank loan & others 1,021
Inventories 556 Current maturities of long-term loans 388
Industrial estate land inventory 2,548 Other current liabilities 724
Other current assets 503
Total Current Assets 7,672 Total current liabilities 5,253
Non-Current Assets Non-Current Liabilities
Long Term trade receivables 748 Long-term bank loans and others 2,398
Property, plant and equipment 5,242 Bond payables 104
Investment Property 984 Other long-term liabilities 295
Industrial estate land inventory 2,446
Other non-current assets 1,319 Total non-current Liabilities 2,797
Total Non-current Assets 10, 686
TOTAL LIABILITIES 8,050
TOTAL EQUITY 10,307
TOTAL ASSETS 18,357 TOTAL LIABILITIES + EQUITIES 18,357

Strong balance sheet (Sep 30, 2020), Fundamentals remain Solid

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PT AKR Corporindo Tbk October 26, 2020

 Paid interim dividend of Rp197 bn and

redeemed bond of Rp895 bn. Cash position
marginally higher than in June 2020 at Rp1,371
bn.
 Total Non-current liabilities stable at Rp2,797
bn.
 Total equity increased to Rp10,307bn, from
Rp10,235 bn as of June 2020.
 Net gearing down to 0.25x, from 0.36x on June
2020. Return on Equity in 9M 2020 of 10.4%.

Financial Ratios Highlights for the 9 months ended 30th September 2020

The unaudited financial statements of the company were filed with IDX today which is available for
download from the company’s website di www.akr.co.id

Haryanto Adikoesoemo

President Director

PT AKR Corporindo Tbk

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PT AKR Corporindo Tbk October 26, 2020

PT AKR Corporindo Tbk

PT AKR Corporindo Tbk (the Company) was formally established in Surabaya in 1977 and was listed on the Indonesian Stock Exchange in 1994.
The Company is Indonesia’s leading integrated supply chain solutions provider and largest private sector distributor of petroleum and basic
chemicals. The Company is also the first private company appointed by the Government of Indonesia to distribute subsidized petroleum. The
Company’s joint venture with BP has opened non-subsidized gasoline stations under BP-AKR retail in various locations in Indonesia. The Company
is a renowned provider of logistics and infrastructure with areas of operations encompassing Indonesia. Through a number of subsidiaries, it
governs, the Company also operates in the areas of logistic services, manufacturing.

Java Integrated Industrial Port Estate

Java Integrated Industrial Port Estate (“JIIPE”) is a project that is designed to be one of the largest integrated industrial, residential and deep sea
port estates with development area totaling 2,933.3 ha. This project through PT Berkah Kawasan Manyar Sejahtera (“BKMS”) will develop the
industrial estate, while its sister company PT Berlian Manyar Sejahtera (“BMS”) will handle the sea port operations and PT AKR Land Development
(an affiliate of AKR) will develop the residential estate. AKR indirectly owns 60% of the company through UEPN, while Pelindo III indirectly owns
40% through BJTI.

JIIPE aims to become a strategically located industrial estate, complete with supporting facilities and infrastructure. In addition to a deep-water
port in the complex, the location has direct access to the major toll road network that connects most cities in East Java, arterial road, railway
system and air transport access (Juanda International Airport). The estate is also located 30 kilometers from the city of Surabaya, the second largest
city in Indonesia. According to the master plan, the total area of the industrial estate is 1,761 ha.

Disclaimer

This communication is solely for the addressee(s) and may contain confidential or privileged information. This publication does not have regard
to specific investment objectives, financial situation and the particular needs of any specific person or entity who may receive this report.
Accordingly, neither we nor any of our affiliates nor persons related to us accept any liability whatsoever for any direct, indirect or consequential
losses or damages that may arise from the use of information or opinions in this publication. Many factors, including those discussed more fully
elsewhere in this release and in PT AKR Corporindo Tbk or its affiliates' filings with the respective regulatory authorities particularly their quarterly
financial statements, annual reports, corporate presentations as well as others, could cause results to differ materially from those stated. Opinions
expressed may be subject to change without notice.