PT GARUDA INDONESIA (PERSERO) Tbk.

PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation First Half 2013 Result Announcement Jakarta, 2 September 2013 Delivering Indonesia s Best to the World 0

Shareholders & Performance List of Shareholders as of 28 June 2013 Number of Shares % Domestic Government of Indonesia 15,653,128,000 69.14 Retail 1,129,013,896 4.99 Employee 92,300,879 0.41 Institutional (Trans Airways) 2,466,965,725 10.90 Other Institutional (less than 2%) 2,501,782,028 11.05 Total Domestic 21,843,190,528 96.48 Share Performance Price (28 Jun 13, IDR) : 520 Market cap (IDR. mio) : 11,773,318 Number of share : 22,640,996,000 Free Float (%) : 30.86 52-week price range : 770 480 International Retail 4,200,000 0.02 Institutional (less than 2%) 793,605,472 3.51 Total International 797,805,472 3.52 TOTAL 22,640,996,000 100 - Garuda Indonesia (GIAA) has been only airline listed in IDX since 11 February 2011. - Member of : Kompas-100 Indeks Saham Syariah IDN ISSI Bisnis-27 SRI-KEHATI GIAA (RHS) - JCI Index (LHS) 1

Agenda Page 1. Review of result 1H-2013 3-25 1H - 2013 Highlights 3-5 Market & Competition 6-8 1H 2013: Operational Results 9-15 1H 2013: Financial Results 16-23 Subsidiaries Highlights 24-25 2. The Remaining 2013 Outlook 26-28 IMPORTANT DISCLAIMER: Information contained in this document has been prepared from several sources and the Company does not confirm the accuracy and completeness of such data, particularly where the data is sourced from outside the Company. In addition, any forward looking statements are subject to change as a result of market conditions and the final result may be different to that indicated. The Company makes no representation or warranty of any type whatsoever on the accuracy or completion of the information contained herein. 2

1H-2013 Highlights Emirsyah Satar, CEO 3

1H-2013 Highlights Indicator Passenger Carried Cargo Uplifted Seat Load Factor Passenger Yield Operating Revenue Passenger Revenue Operating Income Income for the Period 1H13 Achievement D% YoY 11.9 million 23.4 172,262 tons 30.4 75.3 % 0.5 * US$c 9.1 (3.5) USD 1,725.4 million 14.1 USD 1,448.2 million 13.7 USD 14.3 million (0.6) -USD 10.7 million Operating Indicator figures are for Garuda Indonesia and Citilink Financial Indicator figures are for Garuda Indonesia Group * in percentage points n/a DOMESTIC Continued growth in traffic & capacity Impacted by weakening IDR/USD INTERNATIONAL Improved operational performance Welcoming First B777-300ER CITILINK Improved operational performance Improved domestic market share At an early stage of Investment FINANCIAL Fully Repaid USD 55 million Citi Club Deal-1 4

Milestones 2Q - 2013 APR New Boards Members were appointed by the AGM Signing Agreement ALAFCO & Garuda Indonesia for Financing of 2 aircraft B777-300ER with Sharia principles MAY New Destinations: Tanjung Pandan (Belitung) & Bengkulu Introduced Immigration On Board on the Shanghai Jakarta service JUN Garuda Indonesia named The World s Best Economy Class by Skytrax at Paris Airshow Fully repaid the US$ 55 million syndicated commercial loan from Citi Club Deal Welcome the 1 st Delivery of Boeing 777-300ER aircraft PSS Cutover Upgrading our reservation system to enhance passenger future experience with Garuda Indonesia 5

6 Market & Competition

Competition on routes which GA flies per Jun 2013 Garuda Domestic Passengers in/out Selected Airports Garuda International Passengers in/out Selected Airports Total GA Passengers (in million) Market Share 29% 29% 29% 28% 28% 28% 29% 28.6% 27% 26% 26% 25% 22% 24% 2.4 2.4 2.5 3.0 3.2 3.3 3.1 3.3 3.5 3.5 3.4 3.8 1.8 2.1 18% 0.5 Total GA Passengers (in million) Market Share 23% 24% 20% 20% 22% 23% 24% 25% 24% 26% 25.5% 24% 21% 0.6 0.7 0.6 0.7 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 0.95 1Q102Q103Q104Q101Q112Q113Q114Q111Q122Q123Q124Q121Q132Q13 GA Domestic Market Share 1H13: 28.0% incr. 0.3 ppts Traffic in million passenger 23.2 6.4 0.7 9.9% 11.1% 162.3% 25.5 7.2 1.9 16.1 2.7% 16.5 1Q102Q103Q104Q101Q112Q113Q114Q111Q122Q123Q124Q121Q132Q13 GA International Market Share 1H13: 25.7% incr. 1.6 ppts Traffic in million passenger 7.0 2.3% 7.2 1.7 8.1% 1.9 5.31 0.5% 5.34 Jan-Jun 2012 Jan-Jun 2013 Others Citilink GA Dom Source: Airport Authority & GA (traffic in/out CGK, DPS, SUB, UPG airports) Jan-Jun 2012 Jan-Jun 2013 Others GA Int'l 7

GA quality has been perceived better from year to year Since embarking on a transformation plan in 2005, GIAA has greatly improved its global and regional rankings and won several international accolades in recognition of its quality performance World Airline Awards Global Airline Rankings 2013 2012 2011 Airline Rank Rank Rank 1 Emirates 8 10 2 Qatar Airways* 1 1 3 Singapore Airlines* 3 2 4 ANA All Nippon Airways * 5 11 5 Asiana Airlines* 2 3 6 Cathay Pacific Airways* 4 4 7 Etihad Airways 6 6 8 Garuda Indonesia 11 19 9 Turkish Airlines 7 9 10 Qantas Airways 15 8 11 Lufthansa 14 15 12 EVA Air 13 16 13 Virgin Australia 12 32 14 Malaysia Airlines* 10 12 15 Thai Airways International 9 5 16 Swiss Int l Air Lines 18 13 17 Korean Air 16 24 18 Air New Zealand 17 7 19 Hainan Airlines* 20 23 20 Air Canada 19 21 World Best Economy Class 2013 2012 Airline Rank Rank 1 Garuda Indonesia 4 2 Asiana Airlines* 3 3 Singapore Airlines* 1 4 Qatar Airways* 2 5 ANA All Nippon Airways * 5 6 Cathay Pacific Airways* 9 7 Turkish Airlines 7 8 Emirates n/a 9 Oman Air n/a 10 Qantas Airways n/a World s Best Economy Class 2013 Best Economy Class Airline Seat 2013 34 Awards in 1H13: -DOM: 23 awards - INT L: 11 awards * Airlines with 5-star skytrax rating 8

1H-2013 Operational Results 9

Fleet Expansion and Rejuvenation in 1H-2013 Jun-12 Dec-12 Jun-13 Ops Lease Fin Lease Owned Narrow Body B737-300 5 3 3 2-1 B737-400 - - - - - - B737-500 5 5 5 - - 5 B737-800 NG 55 55 59 59 - - CRJ - 1000-5 11 7 4 - Total Narrow Body 65 68 78 68 4 6 Wide Body B747-400 3 2 2 - - 2 B777-300ER - - 1 1 - - A330-200 8 9 10 10 - - A330-300 6 6 6-6 - Total Wide Body 17 17 19 11 6 2 Citilink B737-300 5 6 6 - - 6 B737-400 1 1 1 1 - - A320-200 7 14 22 22 - - Total Citilink 13 21 29 23-6 TOTAL FLEET 95 106 126 102 10 14 # of Aircraft Fleet at 31 Dec 2012 106 IN: Delivery of: +20 B737-800NG 4 A330-200 1 CRJ-1000 6 B777-300ER 1 A320-200 8 OUT: - 0 Fleet at 30 June 2013 126 Average Fleet Age (years) 6.4 6.0 5.0 Jun'12 Jun'13 2013F 10

Group Quarterly Performance in the right direction All figures included Garuda Indonesia and Citilink (million) 12 60,000 11 10 9 8 7 6 5 4 3 11 10 48,974 9.2 9.0 9.1 44,224 8.3 8.4 8.4 8.6 36,876 38,558 42,015 8.3 35,817 7.4 32,334 33,613 35,144 7.4 7.1 7.1 7.0 28,952 6.6 6.2 6.4 6.2 6.3 5.6 5.6 5.3 5.3 5.0 4.5 4.7 4.6 4.2 3.7 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Frequency - RHS ASK (000) - LHS RPK (000) - LHS Pax Carried - LHS 50,000 40,000 30,000 20,000 10,000-11

Garuda (Mainbrand) Quarterly Performance (million) 10 9 8 7 6 5 4 3 6.9 5.0 25,788 3.3 8.6 8.7 8.3 7.9 8.0 7.9 7.9 8.1 6.3 5.9 6.0 5.8 29,231 30,399 30,766 30,779 31,834 32,310 3.8 4.0 4.2 4.0 6.6 6.5 6.5 6.2 34,195 35,037 4.4 4.6 4.5 4.4 9.4 7.2 37,830 4.9 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 2 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Frequency - RHS ASK (000) - LHS RPK (000) - LHS Pax Carried - LHS - 12

Citilink Quarterly Performance (million) 1.6 11,144 12,000 1.4 9,187 10,000 1.2 7,820 8,000 1.0 0.8 0.6 3,164 3,103 3,214 4,378 5,038 5,042 6,248 6,000 4,000 0.4 2,000 0.2 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Frequency - RHS ASK (000) - LHS RPK (000) - LHS Pax Carried - LHS - in million 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 ASK (000) - LHS 0.4 0.4 0.4 0.6 0.6 0.6 0.8 1.0 1.2 1.5 RPK (000) - LHS 0.3 0.3 0.3 0.4 0.5 0.5 0.5 0.8 0.9 1.1 Pax Carried - LHS 0.4 0.4 0.4 0.5 0.6 0.6 0.7 1.0 1.2 1.4 13

Operating Indicators - Group 1H12 1H13 % YoY Operational Efficiency Passenger & Cargo Aircraft Utilization (Hours) 10:47 11:00 0:13 Frequencies 72,693 93,198 28.2 On Time Performance (%) 85.3 86.9 1.6 * ASK ( 000) 17,775,764 20,881,690 17.5 Average Fuel Price (USD/L) 0.92 0.88 (4.3) Fuel Burn / ATK 0.251 0.250 (0.2) Fuel Burn / Blockhours 4,053 3,481 (14.1) Passenger Carried 9,617,568 11,869,439 23.4 RPK ( 000) 13,291,314 15,721,097 18.3 Seat Load Factor (%) 74.8 75.3 0.5 * Passenger Yield (US ) 9.4 9.1 (3.5) Cargo/Mail Uplifted (Ton) 132,062 172,262 30.4 Financial CASK (US ) 7.9 7.5 (4.4) CASK-excl Fuel (US ) 4.6 4.4 (4.2) Notes: All figures include GA & Citilink, except aircraft Utilization and OTP are for GA Main Brand only * in percentage points 14

Operating Indicators 1H13 Mainbrand By Sector DOM INT L 1H12 1H13 % YoY Passenger Carried 6,668,603 7,363,701 10.4 Frequency 50,317 60,302 19.8 ASK ( 000) 7,226,846 8,126,116 12.4 RPK ( 000) 5,768,996 6,238,885 8.1 Seat Load Factor (%) 79.8 76.8 (3.1) Passenger Yield (US ) 11.4 11.1 (2.4) CASK (US ) 8.9 8.7 (2.6) CASK-excl Fuel (US ) 5.4 5.3 (2.2) Passenger Carried 1,764,525 1,914,114 8.5 Frequency 12,296 12,565 2.2 ASK ( 000) 9,259,057 9,991,328 7.9 RPK ( 000) 6,589,402 7,473,166 13.4 Seat Load Factor (%) 71.2 74.8 3.6 Passenger Yield (US ) 8.3 8.2 (0.4) CASK (US ) 7.3 7.0 (4.1) CASK-excl Fuel (US ) 4.1 4.0 (3.9) Domestic s SLF & Yield % USc 90 12.0 80 11.6 11.5 11.3 11.4 70 11.0 11.0 60 10.7 50 10.5 10.5 63.7 79.0 79.2 76.4 78.6 83.6 40 10.0 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Seat Load Factor (%) Passenger Yield (US ) Note: * In percentage point 15

1H - 2013 Financial Results Handrito Hardjono, CFO 16

Summary of Consolidated Income Statement in USD mio 1H-2012 1H-2013 % YoY Operating Revenue Operating Expenses Income EBITDAR 263.9 327.4 24.0 Scheduled Airline 1,372.4 1,555.4 13.3 Non-Scheduled Airline 9.9 10.6 7.0 Others 129.6 159.4 23.0 Total 1,511.9 1,725.4 14.1 Fuel 588.3 655.2 11.4 Non Fuel 909.2 1,055.9 16.1 Total 1,497.5 1,711.1 14.3 Income / Loss from Operations 14.4 14.3 (0.6) EBT 12.8 (2.6) n/a Income / Loss Current Period 2.0 (10.7) n/a EBITDAR Margin Nett Margin 17.45 % 18.97 % 0.12 % (0.62%) 17

Summary of Income Statement Parent Company only in USD mio 1H-2012 1H-2013 % YoY Operating Revenue Operating Expenses Income Scheduled Airline 1,372.7 1,430.3 4.2 Non-Scheduled Airline 9.9 10.6 7.0 Others 40.3 34.3 (14.8) Total 1,423.0 1,475.2 3.7 Fuel 545.4 576.4 5.7 Non Fuel 872.3 855.2 (2.0) Total 1,417.7 1,431.6 1.0 Income / Loss from Operations 5.2 43.6 736.0 EBT 3.2 28.4 778.4 Income / Loss Current Period (4.9) 20.9 525.2 18

Revenue Trend in 1H-2012 vs 1H-2013 Changes in Operating Revenues (USD mio) +$174.7 (+11.6%) +$8.3 (+0.6%) +$0.7 (+0.05%) +$29.8 (+2.0%) Passenger Revenue 1,725 Strong revenue growth, driven by 23.4% growth on passenger carried (additional 2.25 million passengers as compared to 1H-2012) Cargo revenue Cargo & Mail Revenue increased by 8.7% to USD 103.0 million 1,512 Non-Scheduled Revenue from Non-Scheduled grew 7% to USD 10.6 million 1H-2012 Operating Revenue Passenger & Excess Baggage Cargo & Mail Non Scheduled Others 1H-2013 Operating Revenue Others Others Revenue increased by 23% to USD 159.4 million 19

1H-2013 Expenses Changes in Operating Expenses (USD mio) $67.0 +4.5% $63.6 +4.2% Flight Ops $23.5 +1.6% Ticketing & Sales $18.5 +1.2% User Charges & Station $8.9 +0.6% Pax Service $20.3 $6.1 $5.8 +1.4% +0.4% +0.4% Others G & A Maintenance 1,711 Expense Item PoT* Fuel 38.3% Flight Ops 20.1% Ticketing & Sales 9.2% Maintenance 8.3% Pax Service 8.2% 1,497 Fuel User Charges & Station 7.5% G & A 6.2% Others 2.3% 1H-2012 Operating Expenses 1H-2013 Operating Expenses *) PoT=Percentage of Total 20

Summary of Consolidated Balance Sheet in USD mio 31 Dec 2012 30 Jun 2013 % Asset Liabilities Equities Current Assets 636.6 655.4 3.0 Non-Current Assets 1,881.4 2,139.4 13.7 Total Assets 2,518.0 2,794.8 11.0 Current Liabilities 754.2 916.4 21.5 Non-Current Liabilities 648.8 774.1 19.3 Total Liabilities 1,403.0 1,690.5 20.5 Total Equities 1,115.0 1,104.3 (1.0) Total Liabilities & Equities 2,518.0 2,794.8 11.0 Lease Adjusted Net Debt/EBITDAR Debt/Equity 4.4 x 0.6 x 4.7 x 0.7 x 21

Sustainable Low Net Gearing Cash Position & Net Gearing Total Debt Breakdown 23.2% 51.3% 25.5% Long term loan Lease Liabilities Short term loan Total Debt on June 2013: USD 784 mio - Our Cash Position decreased as per June 2013 due to an increase in Advanced Payment for A/C Purchases and Maintenance Reserve Funds 22

Summary of Consolidated Cash Flow in USD mio 30 Jun 2012 30 Jun 2013 % YoY Beginning Cash/Cash Equivalents 417.3 325.8 (21.9) Operating Activities 122.6 111.6 (9.0) Investing Activities (242.2) (314.2) 29.7 Financing Activities (36.9) 166.5 551.6 Net Increase (Decrease) in Cash/Cash Equivalents (156.4) (36.0) 77.0 Effect of Foreign Exchange Rate Changes (9.7) (5.9) 39.5 Ending Cash/Cash Equivalents 251.1 283.9 13.0 Operating Activities Increased on interest & financial charges paid and income taxes paid Investing Activities USD 349.7 million was the payment for PDP & Maintenance Reserve Fund USD 27.4 million was the payment for Security Deposit USD 118.2 million was the refund of PDP and Maintenance Reserve Fund Financing Activities New Loan: $ 321.8 million Payment of long-term Loan & Bank Loan: $ 153.3 million 23

24 Subsidiaries

Summary of Subsidiaries Performance PT Aerowisata (in USD 000) PT GMF-AA (in USD 000) 1H13 % YoY 1H13 % YoY Operating Revenue 149,512 36.3 Operating Income 3,986 578.6 Net Income 2,980 44.4 EBITDA 8,144 47.6 Operating Revenue 108,525 3.6 Operating Income 5,905 (12.4) Net Income 3,704 (36.3) EBITDA 7,843 (6.2) PT Abacus DS Indonesia (in USD 000) PT Aero System (in USD 000) PT Citilink Indonesia (in USD 000) 1H13 % YoY 1H13 % YoY 1H13 Operating Revenue 1,783 16.2 Operating Income 244 678.2 Net Income 169 6,110.9 EBITDA 350 168.1 Operating Revenue 10,997 28.7 Operating Income 700 187.1 Net Income 206 153.6 EBITDA 1,823 919.3 Operating Revenue 128,171 Operating Income (40,850) Net Income (39,125) EBITDA (34,164) 25

Outlook for the Remaining 2013 Emirsyah Satar, CEO 26

1H-2013 Stay on Track Estimates 2013E Key Drivers 1H-2013 139 # of Fleet 126 Passenger Carried Growth 15% 20% 23.4% 15% - 20% ASK Growth 17.5% $ 200 250 mio Net PDP $ 129.4 mio $ 300 400 mio CAPEX * $ 73.2 mio Note: * GA only, excluding subsidiaries 27

Recent Developments Network Operation Funding Garuda s New Destinations: Cengkareng Bengkulu Cengkareng Tanjung Pandan Medan Penang Cengkareng Tanjung Pinang Balikpapan Berau Introduced New Service Concepts 2 July 2013 Fly Liverpool FC for the LFC Tour 2013 17 July 2013 Moved from Polonia Airport to Kuala Namu International Airport - Medan 15 May 2013 15 May 2013 1 June 2013 3 Aug 2013 1 Aug 2013 88 Extra Flights during Eid-ul Fitr 5-16 Aug 2013 25 July 2013 Welcome the 2 nd delivery of B777-300ER 31 July 2013 IDR Bond: Listing in Indonesia Stock Exchange 8 July 2013 28

PT Garuda Indonesia (Persero) Tbk. Investor Relations Department 2nd Floor Management Building Garuda City Soekarno Hatta International Airport Phone : 62-21-2560 1201 Email : investor@garuda-indonesia.com THANK YOU 29