20250423_ELSA_Laporan Informasi dan Fakta Material_31877529_lamp2.pdf

Narahubung:
Jayanty Oktavia Maulina (Anty)
Manager of Corporate Communications
Graha Elnusa 16th Floor, Jl. TB Simatupang Kav. 1B, Jakarta 12560
Tel: (021) 7883 0850 | Fax: (021) 7883 0907 | Mob: +62813 1787 1717
E-mail: jayanty.maulina@elnusa.co.id


Press Release
  A Testament to Strong Performance and Strategic Synergy:
           Elnusa Upgraded to idAA+ by PEFINDO
Jakarta, 23 April 2025 – PT Elnusa Tbk (ELNUSA, IDX: ELSA), a subsidiary of PT Pertamina Hulu Energi (PHE) under Pertamina’s Subholding Upstream, has
received a credit rating upgrade from PT Pemeringkat Efek Indonesia (PEFINDO), moving from idAA to idAA+ with a stable outlook. In addition, the rating of
Elnusa’s Sukuk Ijarah Berkelanjutan I Year 2020 was also upgraded to idAA+(sy).

This rating upgrade is the result of a comprehensive assessment of Elnusa’s financial performance, governance quality, and strategic position within the
Pertamina ecosystem. PEFINDO’s rating process involved multiple stages, including a detailed financial review, site visits to Elnusa and its subsidiaries’
strategic projects, and in-depth presentations during management meetings. These visits aimed to introduce the scope of Elnusa’s business operations,
engage in direct discussions with PEFINDO, and provide transparency to key financial institutions and creditors.

The rating also reflects the strong backing of PT Pertamina (Persero), recognizing Elnusa as a material and integrated subsidiary within the group’s efforts to
achieve national strategic targets—particularly in boosting oil production to 1 million barrels per day and enhancing downstream energy operations.

PEFINDO’s positive evaluation also acknowledges the robustness of Elnusa’s financial structure, including a healthy EBITDA level, a conservative debt ratio
(Adjusted Debt/EBITDA of 0.8x), and strong cash flow protection. Additionally, Elnusa’s business diversification—spanning upstream oil and gas support
services, energy logistics, and distribution—along with its ability to forge strategic synergies across the Pertamina Group, has further enhanced its long-term
credibility and outlook in the eyes of stakeholders and capital markets.

Elnusa President Director, Bachtiar Soeria Atmadja, commented, “This rating upgrade is a reflection of the growing trust from our stakeholders in Elnusa’s
business fundamentals and long-term outlook. It also demonstrates the tangible results of our ongoing transformation and strategic synergy across the
Pertamina Group.”

Elnusa’s rating journey highlights its consistent efforts in strengthening business fundamentals. From a rating of idAA- in 2020, to idAA in 2023, and now
idAA+ in 2025, the company has shown significant progress over the past five years—gaining increased confidence from both investors and financial
institutions. The idAA+ rating reflects Elnusa’s very strong capacity to meet its long-term financial commitments, just one notch below the highest rating of
idAAA, according to PEFINDO’s classification.

PEFINDO also noted that Elnusa’s rating could improve further if the company significantly strengthens its business position through sustained EBITDA and
revenue growth, while maintaining a prudent capital structure and strong, consistent cash flow protection.

This achievement further solidifies Elnusa’s role as a strategic national partner in supporting energy resilience, in line with its vision as a total energy services
provider. With integrated services spanning from upstream to downstream, Elnusa is not only an operational executor, but also an active player in digital
transformation, technological innovation, and domestic supply chain enhancement—contributing to the realization of a sustainable and self-reliant national
energy ecosystem.


About Elnusa (IDX: ELSA)
Elnusa is a subsidiary of PT Pertamina Hulu Energi (PHE), which is part of the Pertamina Upstream Subholding, operating in the field of integrated energy
services to provide total solutions. Elnusa has a DNA of resilience and innovation for over 55 years in the energy industry, with core competencies in upstream
oil and gas services, energy distribution and logistics services, as well as support services. The upstream oil and gas services line includes Geoscience &
Reservoir services (land, transition zone & marine, as well as data processing), drilling & field maintenance services (drilling & workover), engineering,
procurement, construction & operation maintenance (EPC-OM) services. The energy distribution and logistics services line includes fuel transportation
services, depot management, and chemical sales. The support services line includes marine support services, fabrication, and data management. Elnusa is
committed to implementing Corporate Governance in accordance with GCG principles to realize a highly competitive, continuously growing company and
provide sustainability for all stakeholders. For more information, please visit www.elnusa.co.id.