BBRI Right Issue : International Offering Document

Establishing an Ultra Micro Ecosystem: New Driver to Grow Sustainably, to be a Champion of Financial Inclusion

PT BANK RAKYAT INDONESIA (PERSERO) Tbk

September 2021

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CEO Message

After more than two months since BRI announced our plan to establish the Ultra‐Micro Ecosystem ("UMi Ecosystem"), we are now in the final phase of this journey that we expect to finish by the end of September this year. We thank all our shareholders for their continued support and trust.

The UMi Ecosystem, serving as the embryo of the micro and SME segments, has been set as one of our new sources of growth. This is also part of our long‐term strategy that we call BRIVolution 2.0 that aims to secure strong and sustainable future growth and helps achieve our vision to be "The Most Valuable Banking Group in

Southeast Asia and Champion of Financial Inclusion".

BRI which will later become the holding company of the UMi Ecosystem has more than 125 years of experience serving the micro segment and is a proven leader in micro banking in Indonesia. As the business environment evolves into a digital economy, BRI has adopted a hybrid bank model strategy by combining our three core strengths - our extensive network supported by BRILink agents, our advanced digital capabilities, and experienced financial advisors. We believe that the integration of BRI's core strengths with Pegadaian and PNM's unique business models will create an integrated business journey for UMi entrepreneurs by providing more extensive, affordable, and faster access to formal financial services.

As part of the establishment of UMi Ecosystem, BRI has prepared robust integration plan and strategies,
supported by Bank's in‐placed infrastructure and capabilities, to achieve the synergies of the three entities. We
Sunarso, CEO BRI
expect that the establishment of the UMi Ecosystem will deliver economic and social benefit for the three
entities, the ultra micro segment and the nation's economy. The UMi Ecosystem will also be the catalyst for the
achievement of Sustainable Development Goals (SDGs) by empowering and extending equal access of banking
services to the unbanked and underbanked population, as well as underprivileged female entrepreneurs.

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UMi Ecosystem as a Key Source of Growth under BRIVolution 2.0

"The Most Valuable Banking Group in Southeast Asia & Champion of Financial Inclusion"

Our Transformation is

Anchored In Six Themes (6C)

New Growth Engine

Accelerating CASA Growth

Enhancing Cross Sell to Boost Fee Income

Adapting Culture & Capabilities

Improving Customer Experience

Containing Credit Cost

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Establishment of The Ultra Micro Ecosystem

Entities

Consolidated Ultra Micro Ecosystem for a More Integrated Journey for Customers

Benefits

Economic

Market leader in micro

banking, serving the feasible

and banked segment

Market leader in pawn

lending, serving the feasible

and banked segment

Market leader in group lending, empowering the unfeasible and unbanked segment

		3. UPGRADE
	2. INTEGRATE
1. EMPOWER	Through their increased	As the Ultra Micro
customers mature, they will
	capabilities and wider
	product offerings,	be upgraded to micro
PNM will empower the	Pegadaian and BRI UMi will	segment
unfeasible and unbanked	serve the individual lending
Ultra Micro customers to	needs of the graduating
become independent	PNM customers who have
entrepreneurs	become feasible and
	banked

Increasing entity's valuation and hence shareholder's value

Social

Improve living standards and reduce financing costs for UMI customers

Sustainable

Contribute to financial literacy and social inclusion for all Indonesians

Source: Company.

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