Financial risk continued I.

519 Laporan Tahunan PERTAMINA 2014 | PERTAMINA Annual Report 2014 PT PERTAMINA PERSERO DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 5152 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2014 DAN 2013 Dinyatakan dalam ribuan Dolar Amerika Serikat, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013 Expressed in thousands of US Dollars, unless otherwise stated 46. KEBIJAKAN MANAJEMEN RISIKO lanjutan

46. RISK MANAGEMENT POLICY continued b. Risiko keuangan lanjutan

b. Financial risk continued I.

Risiko pasar lanjutan I. Market risk continued i Risiko nilai tukar mata uang asing lanjutan i Foreign exchange risk continued Analisis sensitivitas Sensitivity analysis Penguatan pelemahan Rupiah terhadap Dolar AS akan meningkatkan menurunkan ekuitas dan laba-rugi sebesar jumlah yang ditunjukkan di bawah. Analisis ini didasarkan pada varian nilai tukar mata uang asing yang dipertimbangkan mungkin terjadi pada tanggal pelaporan. Analisis mengasumsikan bahwa seluruh variabel lain, pada khususnya tingkat suku bunga, tetap tidak berubah dan mengabaikan dampak atas perkiraan penjualan dan pembelian. A strengthening weakening of the Rupiah against the US Dollar would have increased decreased equity and profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that were considered to be reasonably possible at the reporting date. The analysis assumes that all other variables, in particular interest rates, remain constant and excludes any impact of forecasted sales and purchases. PenguatanStrengthening PelemahanWeakening Ekuitas Laba atau rugi Ekuitas Laba atau rugi Equity Profit or loss Equity Profit or loss 31 Desember 2014 31 December 2014 IDR pergerakan 8 2,942 160,730 2,506 136,918 DR 8 movement 31 Desember 2013 31 December 2013 IDR pergerakan 5 1,158 114,759 1,048 103,830 IDR 5 movement ii Risiko harga komoditas ii Commodity price risk Volatilitas harga minyak mentah, gas alam dan produk kilang serta ketidakpastian pasar untuk minyak mentah dan gas dapat berdampak buruk terhadap usaha, kondisi keuangan dan hasil operasi Grup. The volatility in prices of crude oil, natural gas and refined products and the uncertainty of market dynamics for oil and gas could adversely affect the Group’s business, financial conditions and results of the Group’s operations. Kemampuan Grup dalam menghasilkan laba dipengaruhi signifikan oleh harga dan permintaan minyak mentah, gas dan produk kilang, perbedaan antara harga perolehan minyak mentah, biaya eksplorasi, pengembangan, produksi, distribusi dan penjualan minyak mentah, gas dan produk minyak. Pasar internasional dan domestik untuk minyak mentah dan produk kilang berfluktuasi, yang ditandai dari fluktuasi harga belum lama ini. Fluktuasi harga pasar minyak mentah, gas dan produk kilang tergantung dari berbagai faktor diluar kendali Grup. Faktor-faktor tersebut antara lain: The Group’s profitability is significantly affected by the prices of, and demand for, crude oil, natural gas and refined products, the difference between the cost price of crude oil, the costs of exploring for, developing, producing, transporting and selling crude oil, gas and refined products. The international and domestic markets for crude oil and refined products are fluctuative, and have recently been characterised by significant price fluctuations. The fluctuation of the market prices of crude oil, natural gas and refined products is subject to a variety of factors beyond the Group’s control. These factors, among others, include: 520 Laporan Tahunan PERTAMINA 2014 | PERTAMINA Annual Report 2014 PT PERTAMINA PERSERO DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 5153 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2014 DAN 2013 Dinyatakan dalam ribuan Dolar Amerika Serikat, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013 Expressed in thousands of US Dollars, unless otherwise stated 46. KEBIJAKAN MANAJEMEN RISIKO lanjutan

46. RISK MANAGEMENT POLICY continued b. Risiko keuangan lanjutan

b. Financial risk continued I.