PT Kawasan Industri Jababeka Tbk. · 2016 Jababeka Group established and started development of the industrial estate IPO on Jakarta and Surabaya Stock Exchange Acquisition of Menara

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April 2018

Investor Presentation

PT Kawasan Industri Jababeka Tbk.

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Leading township developer & infrastructure powerhouse

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

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 – Park by the Bay in Central Java, tourism-based township in Tanjung Lesung, Banten and a tourism development project in Morotai

Large and strategically located land bank of 3,376 hectares as of 31 December 2017

PT Kawasan Industri Jababeka Tbk

Real Estate Infrastructure

Industrial

Residential

Commercial

Power

Infrastructure

Dry Port

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

FY17 Revenue Breakdown (%) (Rp 2,995 billion)

FY17 Gross Profit Breakdown (%) (Rp 1,137 billion – 38% GPM)

…with world class infrastructure to support its development

Real Estate & Others, 41%

Power Plant, 45%

Infrastructure & Port, 14%

Real Estate & Others, 63% Power Plant, 20%

Infrastructure & Port, 17%

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Established track record in large-scale industrial estate + infrastructure

1989 1994

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 – Park by the Bay

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 - 2015 Best Company award

#1

Investor Magazine - 2012 Top 10 Best performing

listed companies and Best listed company in property

2013

#1

Ministry of Industry - 2015 Best Industrial Estate –

Infrastructure & Facilities

#1

Indonesia Property Watch- 2015

The best township development concept

2014

D’Khayangan Senior Living Launched

Selected awards

SWA Magazine - 2016 Top 25 Most Creative

Companies in Indonesia

More than 25 years track record in industrial township development

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Sizeable land bank in strategic locations with upside potential

Karawang

Note: 1 Land bank as at 31 December 2017

Most established industrial area in Greater Jakarta, home to >2,000 local and multinational companies

Designated as a Special Economic Zone

Designated strategic estate status under presidential decree

Fully integrated and matured city development 35km east of Jakarta, 45mins from Jakarta’s CBD

Strategically located along the Jakarta-Semarang-Surabaya Economic Corridor

Envisaged to become a first-class integrated resort destination for both domestic and international tourists Offers a deep pool of young

and skilled labour at a competitive cost

Located 170km southwest of Jakarta and covers 1,500 ha of untouched peninsula facing the Indian Ocean

Tanjung Lesung Master plan: 1,551 hectares 170km southwest of Jakarta Land Bank: 1,537ha(1)

Kendal, Central Java Master plan: 2,700 hectares 450km east of Jakarta Land Bank: 582ha(1)

Kota Jababeka Cikarang Master plan: 5,600 hectares 35km east of Jakarta Land Bank: 1,228ha(1)

Kota Jababeka Cikarang

Kendal, Central Java

Semarang

Surabaya

Tanjung Lesung

INDONESIA

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Overview of Portfolio

Real Estate(1) Leisure & Hospitality Infrastructure

Kota Jababeka Education Park

Industrial

The Jababeka Industrial Estate

Residential D’ Cataluna

Candi Residence at D’Java

The Oscar Beverly Hills

D’Java Residence Tropikana Garden

Graha Asri Riverview Residence

Senior Living @D’Khayangan

Commercial

Education Park

Ruko D’Java Sentra Niagra Square

Movie Boulevard Cortes

Resto Plaza Trace

Rodeo Drive Hollywood Boulevard Ruko Green Market Kios Green Market

Riverwalk

Water Treatment Plant

Bekasi Power

Cikarang Dry Port

Golf & Country Club Waste Water Treatment Plant

Cikarang – Jababeka Golf & Country Club

Kota Jababeka President Lounge

Main Lobby, The President Lounge - Jakarta

Metro Suites Metro Hotel

Botanic Garden

Jababeka Botanic Gardens

Kota Jababeka

Three diversified pillars of growth underpinned by strong recurring revenue base

Magelang – Borobudur International Golf &

Country Club

Veranda

Boulevard Arcade

Ruko Hollywood Arcade

Thamrin Boulevard

East Park Commercial Centre

Note: 1 KIJA also owns 5,947 sqm of space in the Jakarta strata title building Menara Batavia and has title to 12,035.7 sqm in The City Center, a strata titled office tower adjacent to Menara Batavia

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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 plant and dry port

Experienced management team 7

Beneficiary of favourable macro and sector fundamentals 8

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Kota Jababeka — Flagship industry-based integrated township 1

1

2

3

4

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

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

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

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

Toll Road

Future Toll Road

…and is home to over 2,000 local and multinational customers from over 20 countries

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

(in km) Distance from Kota Jababeka

Jakarta CBD 35

Seaport 55

Airport 65

Tanjung Priok Port

Heavy industries & Petrochemicals

DKI JAKARTA

South Tangerang

Tangerang

Soekarno-Hatta International

Airport

Bekasi Automotive, Consumer, Electronics & other Light

to medium industries

Kota Jababeka

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Kota Jababeka – Anchored by a blue-chip customer base

Portfolio of high quality customers Diverse mix of occupants across sectors (breakdown by number of occupants) – As of 31 Dec 2017

1

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

Electronics, 11%

Customer Goods, 7%

Machinery, 7%

Chemicals, 6%

Automotive, 6%

Plastics, 5%

Foods, 5%

Building, 4% Metal Fabrication, 4%

Tekstile, 2%

Others, 44%

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Jababeka Residence – A City for Your World

Residential

Commercial

1

Elvis Tower

Housing clusters

High-rise residence Senior housing

D’Java Residence

The Veranda Tropikana Garden

Simprug Garden

D’Khayangan - Senior living

Simprug Plaza Sentra Niaga Square

Kota 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

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Kota Jababeka – Enhancing value through Joint Venture projects 1

PT Plaza Indonesia Realty Tbk PT PP Properti (Persero) Tbk

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

Mixed use superblock on a 4.6-ha site

With 6 apartment towers and Japanese style mall

First apartment tower to be launched later this year

4 apartment towers strategically located near the toll exit

Catering to the lower end of the market

Tower 1 – Mahakam Tower – 90% sold out & topped off, hand-over expected late 2018

Tower 2 – Bengawan Tower – soft-launched with > 142 units sold

JV 2 30%

70%

JV 2 52.6%

47.4%

JV 1 70%

30% “MAYFAIR Estate

& Park Land” JV 1

49%

51% “Riverview Residence”

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

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Kota Jababeka – Kawana Golf Residence 1

Kawana Golf Residence is a JV between KIJA’s Jababeka Residence (60%) and Creed Group (40%) from Japan High-end golf view apartment tower with 234 units Total of 95% sold in 2 phases

Kawana Golf Residence – The One & Only Golf Residence in Indonesia

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Enhancing Kota Jababeka's value proposition: Bekasi Power Plant

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 – 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

IDR billion Description 2014 2015 2016 2017

Net Dependable Capacity 118.8MW 120MW 120MW 121MW

Load Factor 108MW 110MW 93MW 109.1MW

Capacity factor 90.01% 90.01% 81.85% 87.95%

Equivalent Availability Factor 90.34% 96.39% 82.85% 94.53%

Planned Outage Factor 7.88% 3.09% 15.15% 5.00%

Equivalent Forced Outage Rate 1.78% 0.52% 2.00% 0.47%

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

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

1,062

1,267

1,499

1,310 1,360

82 155

215 164 232

7.7%

12.2% 14.3%

12.5%

17.1%

-3.0%

2.0%

7.0%

12.0%

17.0%

22.0%

-

200

400

600

800

1,000

1,200

1,400

1,600

2013 2014 2015 2016 2017Revenue Gross Profit Gross Profit Margin

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Enhancing Kota Jababeka's value proposition: Cikarang Dry Port 2

Notes:

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

…with excellent transport connectivity

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

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

JABABEKA

MM 2100

EJIP LIPPO

HYUNDAI SURYA CIPTA

KIKC KIM

KBI

KIIC

GIIC

62%1

Cikarang

Utama Toll

Gate

New Toll

Gate KM 29

Flyover to

Jakarta

Highway

Exit KM 29

Enhanced Accessibility with New Toll Gate KM 29

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

2

Container Yard Reefer Services Terminal Operation 24/7

Bonded Trucking Container Freight Station

Rail Freight Service 24/7 Security

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

Bonded Logistics Center

Special Containers Handling

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

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Enhancing Kota Jababeka's value proposition: Cikarang Dry Port

Overview

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 transportation 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 with a 2nd warehouse completed in 1Q 2017 to accommodate more cotton traders and other commodities

Revenue (IDR billion)

Throughput (TEU)

2

Selected customer & partner profile at Cikarang Dry Port Shipping Lines:

Third Party Logistics Provider (3PL):

Shippers / Consignees:

Strong momentum in CDP operations

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

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

62

78

120

151

171

-

20

40

60

80

100

120

140

160

180

2013 2014 2015 2016 2017

25,808

37,507

50,844

65,250

73,946

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2013 2014 2015 2016 2017

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210 344 415 424 419

15.5%

21.6% 22.2%

24.6% 23.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2013 2014 2015 2016 2017

Recurring EBITDA Recurring Revenue EBITDA Margin

Sizeable and stable USD-denominated recurring income base 3

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

Real Estate(2)

Recurring(1)

2012

IDR 1,401 billion

IDR 2,799 billion

17%

83%

57% 43%

59% 41%

2014

2017

IDR 2,994 billion

1,592

1,349

1,868

1,723 1,774

…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…

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

Total Revenue & Breakdown Recurring revenue (IDR billion)

…Furthermore, US$ 200 million notional is hedged by means of call spreads with an average lower strike of 13,021 Rupiah and an average upper strike of 15,997 Rupiah

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Diversified land bank 4

Positioning

Real Estate(2): 41% Recurring(3): 59%

Land Bank

Total(1): 3,347ha

Kota Jababeka

Kendal Industrial Park – Park by the Bay

Tanjung Lesung

Positioning 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

Notes: 1 As per 31 December2017 and excluding Morotai, with 29ha of land bank 2 Comprises real estate, golf and other non-infrastructure segments 3 Recurring revenue includes contribution from power plant, dry port and service & maintenance fees

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

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

Diversified by geography, positioning and segment

Well diversified across multiple segments (Breakdown of segments by 2016 revenue contribution)

19.7% 5.0% 5.5% 4.2% 1.6%

2.2% 2.6%

45.4% 13.8%

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0%

Land Industrial Commercial Residential Tourism Golf Others Power Plant Service & Maintenance

1,228ha 582ha 1,537ha

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Diversified projects: Kendal Industrial Park – Park by the Bay 4

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

Total planned area: 2,700 hectares

Phase 1: 860 ha (582 hectares as of 31 December 2017)

49% 51%

Distance to Kendal Industrial Park – Park by the Bay

…and complemented by KIJA’s long track record and experience in Indonesia industrial estate developments and infrastructure operations

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

Kendal Industrial Park – Park by the Bay is a JV between KIJA and Sembcorp

Excellent connectivity to major infrastructure in Central Java

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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

Diversified projects: Kendal Industrial Park – Park by the Bay 4

Key Highlights

Kendal Industrial Park – Park by the Bay offers customers an affordable product with top notch infrastructure

Low labour costs in Central Java makes Kendal Industrial Park – Park by the Bay particularly interesting for labor intensive industries

Kendal Industrial Park – Park by the Bay 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

Our Kendal Industrial Park – Park by the Bay 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

Diverse mix of occupants across sectors (breakdown by number of occupants) – As of 30 September 2017

Manufacturing, 34%

Logistics, 19%

Building Materials, 16%

Furniture, 13%

F&B, 9%

Others, 9%

Need to

update

customer mix

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Diversified projects: Kendal Industrial Park – Park by the Bay 4

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Diversified projects: Tanjung Lesung 4

President Joko Widodo speaking on Tanjung Lesung’s designation as Special

Economic Zone for Tourism

Tanjung Lesung overview

Location ~ 170 km southwest of Jakarta in Banten

Concept Tourism-based integrated township (hotels, apartments, sailing, diving & beach clubs)

Access Currently accessible by toll road from Jakarta in ~ 3.5 hours

Australia

Indonesia

Malaysia

Singapore

Tanjung Lesung

Merak

Anyer Krakatau Mountain

Labuan

Pandeglang

Panimbang

Future Toll road

Panaitan Island

Ujung Kulon National Park

Jakarta Serang

Jakarta-Merak Toll Road

SOEKARNO – HATTA International Airport

Tanjung Lesung

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Diversified projects: Tanjung Lesung 4

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, land acquisition and preparations for construction are underway

Tanjung Lesung has been designated as Special Economic Zone for Tourism

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

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

Villa with private pool at Tanjung Lesung

Golf course

Aerial view

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

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Diversified projects: Tanjung Lesung 4

KALICAA VILLA

Current property products

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Morotai is a Special Economic Zone for tourism and 1 of 10 new tourism destinations promoted by the government

Strategically located in the Halmahera group of eastern Indonesia’s Maluku islands, in the heart of Pacific Asia in between Asia and Australia

3 hours flight from Singapore and Taipei

Morotai

Beach view at Morotai

Evening view at Morotai

Great potential for tourism, agricultural and fishing industries and as a logistics hub

PT Jababeka Morotai has been appointed as the implementing entity of the Morotai development project by the Coordinating Ministry of Economic Affairs of the Republic of Indonesia

Currently holds 29ha of land bank at Morotai for development

Future tourism and logistics hub strategically located in the heart of Pacific Asia with natural tropical beauty and World War 2 charm

4 Diversified projects: Morotai

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Clear strategic focus 5

Long Term Vision

Short Term Medium Term

Continue to develop and capitalize on Kota Jababeka Township

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

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

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

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25

101

399

331

427

150

0

50

100

150

200

250

300

350

400

450

2013 2014 2015 2016 2017

1,349 1,592

1,868 1,723 1,774

1,390 1,207

1,272 1,208 1,221

-

500

1,000

1,500

2,000

2,500

3,000

3,500

2013 2014 2015 2016 2017Recurring revenue Real estate & other revenue

Strong financial performance... 6

Notes: 1 Approximate unrealized foreign exchange loss (non cash) for FY13: IDR 420 billion, FY14: IDR 65 billion, FY15: IDR 156 billion 2 Approximate unrealized foreign exchange gain (non cash) for FY16: IDR 135 billion, FY17: IDR 59 billion – and in FY17 additional 1-off expenses of Rp 175bn as a result of redemption of 2019 senior notes

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

EBITDA (IDR billion) and EBITDA margin (%) Net income (IDR billion)

2,799 2,739

3,140 2,931 2,995

(1)

(1)

(1)

(2)

(2)

1,171 1,252

1,389

1,243 1,137

43% 45% 44%

42%

38%

20%

25%

30%

35%

40%

45%

50%

55%

60%

0

200

400

600

800

1,000

1,200

1,400

1,600

2013 2014 2015 2016 2017Gross profit Gross profit margin

1,019

1,130 1,167

1,025

914

37%

40%

37% 35%

31%

20%

25%

30%

35%

40%

45%

50%

55%

60%

0

200

400

600

800

1,000

1,200

1,400

2013 2014 2015 2016 2017EBITDA EBITDA margin

0

89

79

245

175

22

132

115

82

200

218

78

86

134

182

205

102

95

133

111

160

26

595 595 827 792 895 0

2,000

4,000

6,000

8,000

10,000

12,000

2013 2014 2015 2016 2017Cash and cash equivalents Total assets

Robust balance sheet position… 6

Notes: 1 Includes capitalized interest + Hedging Fees

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

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

8,505 8,255

9,741 10,734 11,226

2,572 2,705

3,510 3,565

4,041 4,186

4,662 4,978

5,638 5,900

0.61 0.58

0.71

0.63

0.68

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

2013 2014 2015 2016 2017

Total debt Total equity Debt/Equity

3.8 3.8

3.4 3.1

2.3

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2013 2014 2015 2016 2017

1.9 1.9

2.3

2.7

3.4

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2013 2014 2015 2016 2017

0

89

79

245

175

22

132

115

82

200

218

78

86

134

182

205

102

95

133

111

160

27

Experienced management team 7

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

Ketut Budi Wijaya

Commissioner /

Independent Commissioner

Average of more than 25 years of industrial township development experience

0

89

79

245

175

22

132

115

82

200

218

78

86

134

182

205

102

95

133

111

160

28

6.2 6.0 5.6

5.0 4.9 5.0 5.1 5.2 5.1 5.0

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2011 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F

175 221 270 307 366 397 431 76

92

128 156

180 216

262

251

313

398

463

546

613

693

0

100

200

300

400

500

600

700

2011 2012 2013 2014 2015 2016 2017

FDI Domestic Direct Investment Total

1,3

72

1

,33

9

32

7

26

1

20

8

19

7

19

1

16

5

14

7

12

9

12

8

10

5

10

5

96

9

3

83

8

1

81

8

1

69

6

6

65

5

9

57

5

7

53

5

1

50

4

9

46

-

200

400

600

800

1,000

1,200

1,400

1,600

Ch

ina

Ind

ia US

Ind

on

esia

Bra

zil

Pak

ista

nN

iger

iaB

angl

ades

hR

uss

ian

Mex

ico

Jap

anEt

hio

pia

Ph

ilip

pin

es

Vie

tnam

Egyp

tG

erm

any

Co

ngo

Iran

Turk

ey

Thai

lan

d UK

Fran

ceIt

aly

Tan

zan

iaSo

uth

Afr

ica

Mya

nm

arK

ore

aK

enya

Co

lom

bia

Spai

n

56 62 81

114 118

159 174 169

187 190

0

50

100

150

200

250

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Favourable macro and sector fundamentals

Source: Statistics Indonesia, EIU – April 2018

8

Source: BKPM

Source: EIU 2017 Estimated Population Data as of April 2018 Source: Colliers Indonesia International research Q4 2017

Strong real GDP growth outlook (%) Continued growth in direct investments – both FDI and domestic (IDR trn)

Sizeable domestic market size — world's 4th largest population Greater Jakarta average industrial land prices (USD/sqm)

0

89

79

245

175

22

132

115

82

200

218

78

86

134

182

205

102

95

133

111

160

29

0

2,000

4,000

6,000

8,000

10,000

12,000

2010 2011 2012 2013 2014 2015 2016 2017

Mining Transport, Storage & Communication

Electricity, Gas & Water Supply Construction

Favourable macro and sector fundamentals 8

Upgrading of Infrastructure

Capital spending on ailing infrastructure network gained traction from late 2015

Upgrades to ports, roads, toll roads and power plants − Jakarta airport railway − Trans-Sumatera toll road − New Jakarta container terminal (New Priok) − New Terminal 3 at Jakarta airport

Equity injections into infrastructure-related State Owned Enterprises (“SOEs”)

Further streamlining and improvements to the land acquisition process critical for infrastructure development and a bigger budget allocated to the new land acquisition agency

Deregulation of Investment and Tax Incentives

Improvement in investment climate via cutting red tape and easing bureaucracy

Restrictions on foreign participation in several logistics related sectors have been loosened

Licenses have already been granted to operate bonded logistics centre

Secured funding from international development agencies

Introduced many regulatory reforms to create a more conducive environment for private sector participation in infrastructure

1

2

Source: PWC: Indonesian Infrastructure Report ; Ministry of Finance; APBN 2018; BKPM

Government Budget on Infrastructure Spend in Indonesia (IDRtrn) Government initiatives to stimulate industry

FDI in Infrastructure-related Sectors in Indonesia (USDbn)

9,320 9,637 8,818 9,015

10,298 11,291

5,819

10,742

178

290 317

387 410

139

209

2014 2015 2016 2017 2018

Budget Actual

0

89

79

245

175

22

132

115

82

200

218

78

86

134

182

205

102

95

133

111

160

30

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