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May 2017

Investor Presentation PT Jababeka Tbk

Leading township developer & infrastructure powerhouse

PT Jababeka Tbk ("KIJA") is a leading township developer with an established track record in industry-based townships supported by residential & commercial components...

…with world class infrastructure to support its developments

Jababeka ("KIJA") overview Business segments

Established in 1989 and became the first publicly listed industrial estate developer in Indonesia in 1994

Kota Jababeka, KIJA's flagship development, is a mature industry-based integrated township in Cikarang with on-site power plant and dry port

Pipeline projects: Kendal Industrial Park in Central Java and tourism-based township in Tanjung Lesung, Banten

Large and strategically located land bank of 3,330 hectares as of 31 December 2016

PT Jababeka Tbk

Real Estate Infrastructure

Industrial

Residential

Commercial

Power

Infrastructure

Dry Port

1

Vision: To Create Modern Self Sustained Cities in Every Province in Indonesia and Provide Jobs for Better Life

FY16 Revenue Breakdown (%)(Rp 2,931 billion)

FY16 Gross Profit Breakdown (%)(Rp 1,243 billion – 42% GPM)

Real Estate & Others, 41%

Power Plant, 45%

Infrastructure & Port, 14%

Real Estate & Others, 71%

Power Plant, 13%

Infrastructure & Port, 16%

Established track record in large-scale industrial estate + infrastructure

More than 25 years track record in industrial township development

2

19891994

1996

2001

2003

2010

2011

2016

Jababeka Group established and started development of the industrial estate

IPO on Jakarta and Surabaya Stock Exchange

Acquisition of Menara Batavia in Jakarta CBD

Inauguration of Education Park, including President University

Commenced development of Jababeka CBD

Cikarang Dry Port begins operations

Acquisition of 1,500 ha land in Tanjung Lesung, Banten

Bekasi Power Plant commenced operations

Groundbreaking Kendal Industrial Park

Supply Chain Asia Awards 2014 Asia Logistics Centre/Park of the

Year

#1

Frontier Consulting Group Award 2014 #1 Corporate Image

Industrial Estate

Fortune Indonesia - 2015Best Company award

#1

Investor Magazine - 2012Top 10 Best performing

listed companies and Best listed company in property

2013

#1

Ministry of Industry - 2015Best Industrial Estate –

Infrastructure & Facilities

#1

Indonesia Property Watch-2015

The best township development concept

2014

D’Khayangan Senior Living Launched

Selected awards

Sizeable land bank in strategic locations with upside potential

Tanjung Lesung

Master plan: 1,551 hectares

170km southwest of Jakarta

Land Bank: 1,551ha(1)

Karawang

Kendal, Central Java

Master plan: 2,700 hectares

450km east of Jakarta

Land Bank: 522ha(1)

Kota Jababeka Cikarang

Master plan: 5,600 hectares

35km east of Jakarta

Land Bank: 1,228ha(1)

Note:

1 Land bank as at 31 December 2016 3

Key credit strengths

1 Leading industry-based integrated township developer in Indonesia

Diversified land bank and projects

Stable, USD-denominated recurring income from infrastructure operations

Robust operating and financial performance

Clear strategic focus over different time frames

2

3

4

5

6

The ONLY industrial developer with on-site power and dry port

Experienced management team7

Beneficiary of favourable macro and sector fundamentals8

4

(in km)Distance from Kota Jababeka

Jakarta CBD 35

Seaport 55

Airport 65

Kota Jababeka — Flagship industry-based integrated township

Kota Jababeka is a mature industry-based township strategically located in close proximity to Jakarta CBD, sea port and airport…

…and is home to over 1,600 local and multinational customers from over 20 countries

DKI JAKARTA

Toll Road

Future Toll RoadSoekarno-

Hatta International

Airport

Tajung Priok Port

Tangerang

South Tangerang

Bekasi

Kota Jababeka

1

2

3

4

Strategically located in Cikarang area, the most established industrial estate zone in Greater Jakarta

Heavy industries & Petrochemicals

Automotive, Consumer, Electronics & other Light

to medium industries

Close to central Jakarta, sea-port, airport and accessible by both toll and railroads

Mature township with a well-established talent/labor pool supported by complementary facilities (residential, commercial, hospitality, etc)

Superior infrastructure facilities which serve to enhance Kota Jababeka's competitive positioning for customers

1

5

Kota Jababeka – Anchored by a blue-chip customer base The portfolio of high quality multinational and domestic customers at Kota Jababeka is a testament to the township's strategic location and superior infrastructure facilities

Portfolio of high quality customersDiverse mix of occupants across sectors (breakdown by number of occupants) – As of 31 December 2016

1

6

Electronics, 11.5%

Consumer Goods, 6.8%

Machinery, 6.7%

Chemicals, 6.0%

Automotive, 5.8%

Plastics, 5.5%

Food, 4.5%Metal

Fabrication, 3.8%Building, 3.4%

Textile, 1.8%

Others, 44.3%

Elvis Tower

Kota Jababeka – Continued build-out of complementary facilitiesKota Jababeka has successfully achieved a critical mass of occupants which provides an opportunity to continue introducing complementary services and infrastructure to enhance the township's value proposition

Residential

Commercial

Housing clusters

High-rise residenceSenior housing

D’Java Residence

The Veranda Tropikana Garden

Simprug Garden

D’Khayangan - Senior living

Sentra Niaga Square Simprug Plaza

1

7

Kota Jababeka – Enhancing value through Joint Venture projects1

PT Plaza Indonesia Realty TbkPT PP Properti (Persero) Tbk

JV 1

JV 2

JV 1

JV 2

70%

30%

30%

70%

49%

51%

52.6%

47.4%

“MAYFAIR Estate & Park Land”

Mixed use superblock on a 12-ha site right next to the golf course Groundbreaking happened in June 2015; piling completed in

2016, construction to start in 2017 Expected completion:2019

8

Mixed use superblock on a 4.6-ha site

With 6 apartment towers and Japanese style mall

4 apartment towers strategically located near the toll exit

Catering to the lower end of the market

Tower 1 – Mahakam Tower –80% sold out; Tower 2 to be launched later in 2017

To be developed on 4-ha site adjacent to JV 1 Concept to be decided on at a later stage – to support /

complement JV 1

“Riverview Residence”

Enhancing Kota Jababeka's value proposition: Bekasi Power Plant

Jababeka is the only industrial estate developer in Indonesia with its own power plant located within its estate

Providing a significant marketing advantage over its competitors as access to reliable electricity supply is one of the primary concerns for industrial clients in Indonesia

Integrated Power Generation & Distribution Process

PLN

Factories

100% output to PLN

Buy back from PLN (+16% margin)

1

2

Direct sale to factories(+ margin)

3

Operational Highlights

130MW gas fired combined cycle plant

20 year 100% off-take agreement from Perusahaan Listrik Negara (“PLN”)

– Rate per KWH: ~US$11 cents– Average gas cost / MMBTU: ~US$9.0 - 10.0– Fuel costs borne by PLN on a pass-through basis– Fully contracted gas supply– Flexibility to buy back power and resell it at a premium

In 2Q 2016, a leakage was found in a boiler of one of the Heat Recovery Steam Generators of the power plant. The repair was successfully completed in mid August 2016. During the repair, power plant operated at about 50% of the usual capacity

Financial Highlights

2

9

IDR billionDescription 2014 2015 2016 2016*

Net Dependable Capacity 118.8MW 120MW 120MW 120MW

Load Factor 108MW 110MW 93MW 108MW

Capacity factor 90.01% 90.01% 81.85% 90.00%

Equivalent Availability Factor 90.34% 96.39% 82.85% 96.26%

Planned Outage Factor 7.88% 3.09% 15.15% 2.73%

Equivalent Forced Outage Rate 1.78% 0.52% 2.00% 1.01%

1,062

1,267

1,499

1,310

82 155 215 164

7.7%

12.2%14.3%

12.5%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

-

200

400

600

800

1,000

1,200

1,400

1,600

2013 2014 2015 2016Revenue Gross Profit Gross Profit Margin

2016*: shows operational data without boiler leakage

International Port Code: IDJBKSurrounded by 11 Industrial Estates and more than 3,000 manufacturing companies

JABABEKA

MM 2100

EJIP LIPPO

HYUNDAI SURYA CIPTA

KIKCKIM

KBI

KIIC

GIIC

Enhancing Kota Jababeka's value proposition: Cikarang Dry Port2

Strategic location in the heart of the largest manufacturing zone along the Bekasi-Cikampek industrial corridor

62%1

Notes:

1 Estimated % of total throughput at Tanjung Priok Port originating from this area10

Enhancing Kota Jababeka's value proposition: Cikarang Dry PortFacilities & services offered at Cikarang Dry Port

2

11

Container Yard Reefer Services Terminal Operation 24/7

Bonded Trucking Container Freight Station

Rail Freight Service 24/7 Security

Bonded Logistics Center

Special Containers Handling

Integrated Customs & Quarantine Empty Container Depot Online Tracking & INSW Connected

CFS

Gate

Bonded Logistics Center

Office: CDP,

Quarantine, Banking

New 10,000 m2 warehouse

Mobile X-Ray

Physical Inspection

Reefer

To Jakarta / Tanjung Priok

To Surabaya

Railway

Emplacement

New Customs Office

Enhancing Kota Jababeka's value proposition: Cikarang Dry Port2

12

Cikarang Utama Toll Gate

New Toll Gate KM 29

Flyover to Jakarta

Highway Exit KM 29

New Highway Exit KM 29 (Coming Soon)

5,995

25,808

37,507

50,844

65,250

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2012 2013 2014 2015 2016

15

62

78

120

151

-

20

40

60

80

100

120

140

160

2012 2013 2014 2015 2016

Enhancing Kota Jababeka's value proposition: Cikarang Dry Port

Cikarang Dry Port (CDP) is the first and only integrated customs, quarantine and logistics facility in Indonesia…

…allowing customers to more efficiently manage their imports and exports and benefit from cost savings

Strong momentum in CDP operationsOverview Since 2012, Cikarang Dry Port is an official port of origin and

destination with international port code IDJBK – now connected with 29 major shipping lines

Integrated port and logistics facilities with multi modal transporation services

Besides export/import, CDP also serves as hub for domestic distribution via main railway line that runs from west Java to east Java

Bonded Logistics Centre (FTZ facilities) for Cotton & minerals/metals

Revenue (IDR billion)

Throughput (TEU)

2

13

Selected customer & partner profile at Cikarang Dry Port

Shipping Lines:

Third Party Logistics Provider (3PL):

Shippers / Consignees:

40 64 210

344 415 424

22.0%

26.8%

15.5%

21.6%22.2%

24.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2011 2012 2013 2014 2015 2016

Recurring EBITDA Recurring Revenue EBITDA Margin

Sizeable and stable USD-denominated recurring income base

The provision of these infrastructure services has enabled the progressive build out of a significant recurring revenue base…

…based on USD pricing terms (power & water), further enhancing stability and visibility of cash flows for Jababeka and also providing a natural hedge for its USD-denominated

interest expenses

Recurring revenue & EBITDA (IDR billion)

Notes:

1 Recurring revenue/EBITDA includes contribution from power plant, dry port and service & maintenance fees

2 Comprises real estate, golf and other non-infrastructure segments

3

14

Recurring(1)

Real Estate(2)

2012

IDR 1,401 billion

IDR 2,799 billion

Total Revenue & Breakdown

17%

83%

57%43%

59%41%

2014

2016

IDR 2,931 billion

183240

1,592

1,349

1,868

Furthermore, US$ 200 million notional is hedged by means of call spreads with an average lower strike at 13,021 Rupiah and an average upper strike of 15,946.

1,723

Diversified land bank

A geographically diversified land bank allows KIJA to capture different market segments and enhances earnings resilience…

…in addition to benefiting from future infrastructure developments across its land bank locations

Township Location Land bank as of December 31, 2016

Kota Jababeka Cikarang 1,228

Kendal Industrial Park Central Java 522

Tanjung Lesung Banten 1,551

Total 3,301

Land bank breakdown by location (in hectares)

Established MNCs and domestic companies willing to pay a premium for strategic location and mature township with top notch infrastructure in place

More cost-conscious customers looking for an alternative to Greater Jakarta industrial estates that still provides top notch infrastructure

Tourism, leisure and hospitality focused integrated township to tap into entertainment/leisure spending by rising middle class in Indonesia

15

4

Kota Jababeka

Kendal Industrial Park

Tanjung Lesung

Diversified projects: Kendal Industrial Park

Kendal Industrial Park benefits from Sembcorp's expertise in developing and marketing industrial zones across Asia (China, Vietnam, Batam, Bintan, etc)…

…and complemented by KIJA's long track record andexperience in Indonesian industrial estate developments and infrastructure operations

Tanjung Emas International Seaport (Indonesia's 3rd largest) 25 km

Ahmad Yani International Airport 20 km

Semarang (Central Java capital) 21 km

Semarang

Tanjung Emas Seaport

Ahmad Yani Int'l Airport

Kendal Port

Excellent connectivity to major infrastructure in Central Java

49% 51%

Kendal Industrial Park is a JV between KIJA and Sembcorp

Total planned area: 2,700 hectares

Phase 1: 860 ha (521 hectares as of 31 December 2016)

4

16

Distance to Kendal Industrial Park

Diversified projects: Kendal Industrial Park

Our Kendal Industrial Park development in Central Java is well-positioned to benefit from growing demand for relatively low cost industrial estates with good connectivity and competitive labor costs

Key Highlights

Kendal Industrial Park offers customers an affordable product with top notch infrastructure

Low labour costs in Central Java makes Kendal Industrial Park particularly interesting for labor intenstive industries

Kendal Industrial Park is situated along the Jakarta-Semarang-Surabaya Economic Corridor

Increasing traffic congestion at Tanjung Priok Port in Jakarta has led to growing interest in alternative sites with good connectivity via air and sea

17

4

Official opening ceremony on November 14th 2016 by the President of Indonesia, Mr Joko Widodo, and the Prime Minister of Singapore, Mr Lee Hsien Loong

Furniture, 16%

Food, 12%

Building & Related, 32%

Logistic & Warehouse,

12%

Manufacturing,24%

Textile & Garment, 4%

Diverse mix of occupants across sectors (breakdown by number of occupants) – As of March 2017

Diversified projects: Kendal Industrial Park4

18

Diversified projects: Tanjung Lesung4

19

Tanjung Lesung overview

Location

Concept

Access

~ 170 km southwest of Jakarta in Banten

Tourism-based integrated township

(hotels, apartments, sailing, diving & beach clubs)

Currently accessible by toll road from Jakarta in

~ 3.5 hours

President Joko Widodo speaking on Tanjung Lesung’s designation as Special Economic Zone for Tourism

Diversified projects: Tanjung Lesung

Strong government support for Tanjung Lesung's development as a tourism zone...

…is expected to increase interest from potential investors/partners for the project

Strong government support for development of Tanjung Lesung

One of 10 New Tourism Destinations in Indonesia that the Indonesian Government is promoting

New toll road from Serang Timur to Panimbang: A consortium led by PT Wijaya Karya Tbk (Persero) won the tender for this project

Tanjung Lesung has been designated as Special Economic Zone for Tourism

4

20

Facilities and infrastructure at Tanjung Lesung

Existing infrastructure includes access roads, a water treatment plant, wastewater treatment plant, electricity supply and telecommunication links

Visitors currently have access to ~ 300 rooms spread out over two hotels/resorts, a bed and breakfast and several cottages

Other facilities: restaurant and bar, driving range, a swimming pool, a spa, a beach club, a sailing club, school, mosque, residential housing units, and a medical clinic

Villa with private pool at Tanjung Lesung

Golf course

Aerial view

Diversified projects: Tanjung Lesung4

21

KALICAA VILLA

Current property products

Clear strategic focus

Jababeka's existing pipeline provides visible opportunities over different time frames

Short Term Medium Term

Long Term Vision

Continue to develop and capitalize on Kota Jababeka Township

Further development of Kendal Industrial Park in partnership with Sembcorp in Central Java

Expansion of power segment in Kota Jababeka

Development of Tanjung Lesung tourism-based township

Replicate Kota Jababeka's industry-based integrated township model throughout Indonesia

Build out an infrastructure facility portfolio (power, water, ports, etc.) to support these new townships

5

22

380

101

399

331

427

0

50

100

150

200

250

300

350

400

450

2012 2013 2014 2015 2016

741

1,019 1,130 1,167

1,025

53%

37% 40%37% 35%

0%

10%

20%

30%

40%

50%

60%

0

200

400

600

800

1,000

1,200

1,400

2012 2013 2014 2015 2016

EBITDA EBITDA margin

860

1,171 1,252

1,389

1,243 61%

43% 45% 44% 42%

0%

10%

20%

30%

40%

50%

60%

70%

0

200

400

600

800

1,000

1,200

1,400

1,600

2012 2013 2014 2015 2016

Gross profit Gross profit margin

240

1,349 1,592

1,868 1,723 1,161

1,390 1,207

1,272 1,208

-

500

1,000

1,500

2,000

2,500

3,000

3,500

2012 2013 2014 2015 2016

Recurring revenue Real estate & other revenue

Strong financial performance...

Revenue breakdown (IDR billion) Gross profit (IDR billion) and Gross profit margin (%)

EBITDA (IDR billion) and EBITDA margin (%)

1

Notes:

1 Approximate unrealized foreign exchange loss (non cash) for FY12: IDR 62 billion, FY13: IDR 420 billion, FY14: IDR 65 billion and FY15: IDR 156 billion

2 FY16 includes unrealized foreign exchange gain (non cash) of approximately IDR 135 billion

6

23

1,401

2,7992,740

3,140

Net income (IDR billion)

1

2,931

1

1

2

1

242 595 595 827 792

0

2,000

4,000

6,000

8,000

10,000

12,000

2012 2013 2014 2015 2016

Cash and cash equivalents Total assets

Robust balance sheet position…

Assets and cash (IDR billion) Debt, Equity (IDR billion) and Debt/Equity

EBITDA/Interest expense (x)1 Net debt/EBITDA (x)

Notes:

1 Includes capitalized interest + Hedging Fees

6

24

7,078

8,5058,255

9,741

10,734

2,046

2,572 2,705

3,510 3,565 3,975

4,186

4,662 4,978

5,638

0.51

0.61 0.58

0.71

0.63

0.40

0.50

0.60

0.70

0.80

0.90

1.00

0

1,000

2,000

3,000

4,000

5,000

6,000

2012 2013 2014 2015 2016

Total debt Total equity Debt/Equity

3.2

3.8 3.8

3.4 3.1

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2012 2013 2014 2015 2016

2.4

1.9 1.9

2.3

2.7

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2012 2013 2014 2015 2016

25

Description Actual 1Q16 Actual 1Q17 Increase

Revenue 586,534 712,810 22%

Property 93,525 194,570 108%

Infrastructure 467,694 492,144 5%

Leisure & Hospitality 25,315 26,096 3%

Cost of Sales 404,389 464,600 15%

Property 32,058 83,220 160%

Infrastructure 358,707 367,235 2%

Leisure & Hospitality 13,624 14,144 4%

Gross Profit 182,145 248,210 36%

Gross Profit Margin 31% 35%

Property 66% 57%

Infrastructure 23% 25%

Leisure & Hospitality 46% 46%

Operating Expenses 93,347 115,091 23%

Operating Profit 88,798 133,119 50%

Other Income (Charges) 44,375 (61,399) -238%

Financial Charges (75,620) (81,600) 8%

Forex Gain (Loss) 116,658 22,178 -81%

Other Income (Charges) 3,337 (1,977) -159%

Earning Before Tax 133,173 71,720 -46%

Net Profit 132,634 66,850 -50%

EBITDA 139,007 194,796 40%

6 1Q17 Financial Highlights

Experienced management team

Average of more than 20 years of industrial township development experience

Board of Commissioners

Board of Directors

Setyono Djuandi Darmono

President Commissioner

(Founder)

Bacelius Ruru

Vice President Commissioner

Independent Commissioner

Hadi Rahardja

Commissioner

(Founder)

Gan Michael

Commissioner

Budianto Liman

President Director

Setiawan Mardjuki

Director

Hyanto Wihadhi

Director

Sutedja Sidarta Darmono

Director

Tjahjadi Rahardja

Director

7

26

Ketut Budi Wijaya

Commissioner /

Independent Commissioner

6.4 6.2 6.0

5.6

5.0 4.9 5.0 5.2

4.3

5.0

0.0

2.0

4.0

6.0

8.0

2010 2011 2012 2013 2014 2015 2016 2017F 2018F 2019F

175221

270 307366 39776

92

128

156

180216

0

100

200

300

400

500

600

2011 2012 2013 2014 2015 2016

FDI Domestic Direct Investment

251

313

399

463

545

613

5662

81

114 118

159

174 169

187

0

40

80

120

160

200

2008 2009 2010 2011 2012 2013 2014 2015 2016

Favorable macro and sector fundamentals

Strong real GDP growth outlook (%) Direct investments – both FDI and domestic remain robust (IDR trn)

Greater Jakarta average industrial land prices (USD/sqm)

Source: United Nations Department of Economic and Social Affairs - Population Division, as of July 2015

Sizeable domestic market size — world's 4th largest population

Source: Colliers Indonesia International research

Source: Statistics Indonesia, EIU – March 2017

8

27

Source: BKPM

1,366

1,327

324

258

206

193

187

163

147

129

126

102

102

94

93

82

80

80

80

68

65

65

60

55

55

54

51

49

47

46

0

400

800

1,200

1,600

China

India

US

Indonesia

Brazil

Pakistan

Nigeria

Bangladesh

Russia

Mexico

Japan

Philippines

Ethiopia

Vietnam

Egypt

Germany

Iran

Congo

Turkey

Thailand UK

France

Italy

Tanzania

S. Africa

Myanmar

Korea

Colombia

Kenya

Spain

Thank Youwww.jababeka.com