PT Acset Indonusa Tbk Performance Update FY 2017

Integrated Construction Company Disclaimer

The material in this presentation has been prepared by PT Acset Indonusa Tbk (ACSET) and is general background information about ACSET activities current as at the date of this presentation and are subject to change without prior notice.

This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice.

This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to ACSET business and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements, past performance is not reliable indication of future performance. ACSET does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither ACSET and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise.

Performance Update FY 2017 2 Contents

Company Profile Business Profile & Operations

Business Strategy Financial Highlights & Updates

Performance Update FY 2017 3 Company Profile

Performance Update FY 2017 4 Overview

Indonesia’s Leading Integrated Construction Company

PT Acset Indonusa Tbk (“ACSET”) is an integrated construction company, providing technical and construction services in foundation, building, civil engineering, infrastructure and ground engineering specialist works.

ACSET is one of the few construction groups in Indonesia with the capability to provide services that spans across the entire value chain, and even been able to diversify ACSET's business lines in high-rise controlled-demolition business and infrastructure-related works.

Our niche is in our capability to integrate the specialist works and general construction works effectively to produce the most efficient and cost effective construction; and this differentiates us from others.

Performance Update FY 2017 5 Major Milestones

1995 Established as PT Acset Indonusa as foundation specialist 2001 Develop first competence in structure works in 2008 Develop competences in civil works (Tanjung Jati B Unit 3&4 Power Plant Project) 2006 Develop competences in complex high-rise structure (Pacific Place Project) and heavy marine foundation (Suramadu Bridge Project) 2012 2011 Develop ISO 9001, OHSAS 18001 & ISO 14001 Certified competences in Design & Build 2013 (Setiabudi Sky Company’s Initial Public Offering (listed Company in Indonesia) and develop Garden Apartment competences in civil works for silo (the largest: Silo Gresik Tuban IV) Project) 2015 • Develop competences in high rise controlled demolition (26 2015 floors & 18 floors) Acquired by Astra • Trusted to construct the highest building (Thamrin 9 project, Group—the biggest 72 floors, 6 basements) conglomerate in • Trusted to construct deepest bored piling works Indonesia (Indonesia 1 Project 92m, 7 basements) • Develop competences in toll-road related projects (Astra Group Project) 2016 Commenced First Limited Public Offering/Rights Isuse 2017 Trusted to construct crucial infrastructure work (-Cikampek II Elevated Toll Road), LRT for Cawang6 – Dukuh Atas Section & JORRPaparan II Toll Publik Road: Bursa Efek Indonesia—2 Agustus 2016 6 Kunciran – Serpong Section 6 Part of Indonesia’s Largest Business Group

Manufacture & Distribution, (Market Share 54% for cars and 75% for motorcycles) Construction Machinery Market Leader Banking, general and life insurance, (35% market shares) leasing company

Mining Contracting Market Leader (49% market shares)

CPO producer, 1.63mio ton An Integrated Construction Company for Foundation, Structures, Infrastructures

Concession: toll-road , sea port and logistics Coal Mining Coal reserved 386mil ton

IT Hardware, software, consulting and Energy document solution PLTU Tj. Jati 5&6, 2 X1000MW (in construction) Property developer and building management *Source: AI and UT 2017 Annual Report *PT Astra International Tbk is publicly listed company in Indonesia with Rp336 Trillion market capitalization *PT 7United Tractors Tbk is publicly listed company in Indonesia with Rp132 Trillion market capitalization 7 *PT Acset Indonusa Tbk is publicly listed company in Indonesia with Rp1,7 Trillion market capitalization 7 Shareholding Structure

100.0% Acset Indonusa Co., Ltd. (Vietnam), Est. 2008 General Contractor Services

100.0% 84.0% Innotech Systems, Est. 2011 Formwork Services Karya Supra Perkasa Mechanical, Electrical & 60.0% Bintai Kindenko Engineering Indonesia, Est. 2012 Plumbing (MEP) Contractor

50.1% Contractor Equipment, Sales 92.3% Sacindo Machinery, Est. 2013 & Support

55.0% ATMC Pump Service, Est. 2014 Concrete Pumping Services

Tower Crane & Passenger 0.1% 99.9% Aneka Raya Konstruksi Mesindo (ARKM), Est. 2014 Hoist Services 0.01% 99.9% Acset Pondasi Indonusa, Est. 2016 Foundation Specialist 49.9% 40.0% Dredging, Reclamation, and Dredging International Indonesia, Est. 2017 Public DII Marine Works Specialist

Performance Update FY 2017 8 On-Going Projects

Bakauheni-Sidomulyo Toll Road, Lampung

The Stature, Jakarta Soil Improvement Work, Batang, Central Java Mixed-use development Millenium Centennial Grand Mansion, Jalan Borobudur, Kebon Sirih, Jakarta Center, Jakarta Jakarta

LRT Cawang – Cibubur

LRT Cawang – Dukuh Atas West Vista, Jakarta Indonesia 1 Tower

Jakarta-Cikampek II Elevated Toll Road, Jakarta Thamrin Nine, Jakarta Tol JORR II, Ruas Kunciran- Serpong Menara Tendean, Jakarta Foundation Construction Infrastructure

Performance Update FY 2017 9 Management

ACSET is managed by a dedicated professional, experienced team.

BOARD OF COMMISSIONERS BOARD OF DIRECTORS

JEFFREY GUNADI GIDION HASAN YOHANES EKA CHANDRAWIJAYA President PRAYUDA Commissioner President Director Director

TAN TIAM SENG DAVID IMAN RONNIE ELLYJAWATI SENTOSA Director Commissioner Vice President Director

TJANDRAWATI HERJADI HILARIUS WAAS BUDIMAN ARWANDHI Independent Independent Director Commissioner Director

As of AGMS 2017 decision, 10 April 2017

Performance Update FY 2017 10 Organizational Structure

Executive Committee Board of Commissioners Corporate Secretary & Legal Audit Committee Corporate Audit & Risk Nomination & Remuneration Board of Directors Committee Tender

Procurement

Project Control

HC & Operation Finance Director Operation Director System & Company Support Director Culture Director

Human Capital Foundation & Soil Improvement Finance, System & Company Accounting & Safety, Health Culture Building & Civil Tax Division & Environment GA, SR & Infrastructure Management Security Information & Contract Engineering Technology Plant & Facility Quality Assurance & Engineering

Performance Update FY 2017 11 Business Profile & Operations

Performance Update FY 2017 12 Areas of Expertise

Demolition Foundation General Building Infrastructure Marine Works Works Works Works Works

M A I •Geotechnical Civil N Controlled- Works engineering •Bored Pilling & High rise and •Inter-island E demolition with related works x Diaphragm Wall complex bridges P minimal impact that include but • Waterproofing & building •Dredging E to project not limited to: R Driven Pilling structure •Reclamation T •Pre-Stressing/Post- •Toll Roads I surroundings S Tensioning •Power Plants E

S U P Subsidiary complementing expertise include: P • Mechanical, Electrical & Plumbing Works O R • Construction Heavy Equipment Sales and Rental (Tower Crane/ T Concrete Pump/Passenger Hoist) I N • Slip Forming/Formwork System G 13 Demolition Works

CIMB Niaga & Sequis Office Building, Jakarta

Performance Update FY 2017 14 Bored Piling & Diaphragm Wall

Thamrin Nine Project

Indonesia 1 Project

Performance Update FY 2017 15 General Building Works

Residence 8 Project Centennial Tower Project

Performance Update FY 2017 16 Infrastructure Works

Construction of Toll Gate, Cilegon Barat Construction of Additional Transaction Line, Balaraja Timur

Kertosono – Mojokerto Toll Road Kertosono – Mojokerto Toll Road

Performance Update FY 2017 17 Infrastructure Works (2)

Tanjung Jati Power Plant Unit 3 & 4

Toll Gate of Kertosono - Mojokerto Toll Road Tanjung Jati Power Plant Unit 3 & 4

Performance Update FY 2017 18 Marine Works

Approach Bridge Suramadu Approach Bridge Suramadu

Approach Bridge Suramadu

Performance Update FY 2017 19 Slipforming & Formwork System

Silo of PT Semen Indonesia Tuban IV

Silo of Bosowa Mataram

Performance Update FY 2017 20 Current Project Portfolio: Foundation Projects

18 1. Indonesia 1, Jakarta 19. Approach bridge of Suramadu 2. Millenium Centennial Tower, Bridge, East Java Jakarta 20. Plaza Ambarukmo, Yogyakarta 3. Taman Anggrek Residences, 21. Soil Improvement Work (Central 2119 Jakarta Java Project), Batang 20 4. Mangkuluhur City, Jakarta 22. Mixed-use Development Kebon 5. SBCD Lot 10, Jakarta Sirih, Jakarta 6. Thamrin Nine (phase I-II), Jakarta 23. Menara Tendean 7. St. Regis, Jakarta 24. Bored Pile Toll Depok - Antasari 8. Bahana Office Tower, Jakarta 25. LRT Cawang - Bekasi Timur 9. District 8 Senopati, Jakarta 26. PLTU Jepara, Bored Pile – Tanjung 10. Sahid Sudirman Center, Jakarta Jati 11. Botanica Residences, Jakarta 27. LRT Cawang - Dukuh Atas 3 3 22 12. Pakubuwono House, Pakubuwono28. LRT Cawang – Cibubur 1 27 17 2 Signature, and Pakubuwono 6 13 25 23 10 28 House, Jakarta 8 5 9 14 13. Ciputra World, Jakarta 7 15 11 4 24 16 14. , Jakarta 12 15. Pacific Place, Jakarta 16. Plaza Sudirman, Jakarta 17. Pasar Tanah Abang (blocks A and B), Jakarta 18. Estella Residential Development Project, Ho Chi Minh City, Vietnam

Performance Update FY 2017 21 Current Project Portfolio: Structural Projects

1. Indonesia 1, Jakarta 15. BG Junction Supermall Pakuwon, 17 2. Millenium Centennial Tower, Surabaya Jakarta 16. Supermall PTC Pakuwon Indah, 14 3. Thamrin Nine, Jakarta Surabaya 15 18 19 16 21 4. District 8 Mixed-Use and 17. Sun Plaza, Medan 20 Langham Tower Development, 18. IV, Surabaya Jakarta 19. Artotel Sanur, Bali 5. Equity Tower, Jakarta 20. TS Suites Hotel and Mall Town 6. (phase I-II), Square, Bali Jakarta 21. Alila Seminyak Resort, Bali 10 7. Gandaria City, Jakarta 22. Millenium Centennial Center, 11 8. Pacific Place, Jakarta Jakarta 1 3 2 23 9. New British Embassy, Jakarta 23. Grand Mansion Borobudur, 22 10. West Vista Apartment, Jakarta Jakarta 5 6 11. Hotel Harris and Yello, Jakarta 4 7 8 12. Pakubuwono Signature and 12 13 9 Pakubuwono House, Jakarta 13. Residence 8 @ Senopati Office and Apartment, Jakarta 14. Astra Business Centre, Tangerang

Performance Update FY 2017 22 Current Project Portfolio: Civil & Infrastructure

4 3

18 6 17

12 1 16 2 13 19 11 20 15 5 9 14 10 8 7

1. Tanjung Priok Access Road (phase II), Jakarta 12. Construction of toll gate and transaction line, Balaraja 2. Blending silo of PT Semen Gresik Rembang, Central Java Timur and Cilegon Barat, Banten 3. Silo, Packer, and Pen Building of PT Semen Indonesia, 13. Construction of toll gate and office building of East Kalimantan Kertosono-Mojokerto toll road, East Java 4. Port and packing plant, Pontianak 14. Construction work for additional rows of Manyaran- 5. Silo of PT Semen Indonesia Tuban II and IV, East Java Jatingaleh toll road, Central Java 6. Silo of Semen Banjarmasin, South Kalimantan 15. Construction of Semarang-Solo toll road (phase I), 7. Silo of Bosowa Mataram, West Nusa Tenggara Semarang-Bawen row (sect. II), Central Java 8. Silo of PT Semen Gresik Banyuwangi, East Java 16. Jakarta-Cikampek II Elevated Toll Road, Jakarta 9. BP Conveyor 604, East Java 17. Terbanggi Besar-Kayu Agung Toll Road, Lampung 10. Foundation construction of PT Semen Gresik, East Java 18. Bakauheni-Sidomulyo Toll Road, Lampung 11. Tanjung Jati B Power Plant expansion project (2 x 660 19. LRT Cawang – Dukuh Atas MW), units 304, Central Java 20. Toll Road Kunciran - Serpong

Performance Update FY 2017 23 Current Project Portfolio: Demolition Projects

1. CIMB Niaga & Sequis Office Building, Jakarta 1 2. International Financial Center Tower II Car Park, 2 Jakarta

Performance Update FY 2017 24 Current Project Portfolio: MEP Projects

4

3 1. Mixed–Use Development Indonesia 1, Jakarta 2. Jakarta MRT Project – 4 stations (Bundaran

Senayan, Istora Senayan, Bendungan Hilir and 1 Setiabudi) 2 3. Hotel Harris & Yello, Jakarta 4. Bintan Residence

Performance Update FY 2017 25 Financial Highlights

Performance Update FY 2017 26 Annual Revenue by Sector, 2013-2017

2013-2017 (in % breakdown) (3%) (3%) (4%) (2%) (2%)

(19%) (37%) (47%) (33%)

(63%)

(76%) (63%) (62%) (53%) (9%)

(24%)

2013 2014 2015 2016 2017 Construction Sector Foundation Sector Infrastructure Others

Performance Update FY 2017 27 Net Income, 2013-2017

Net Income, 2013-2017 (in IDR billion) 180

160 154 140

120

100 105 99 80

60 68

Net income (IDR billion) income Net 40 42 20

0 2013 2014 2015 2016 2017

Performance Update FY 2017 28 Financial Highlights, 2013–2017

In IDR million 2013 2014 2015 2016 2017 Net revenue 1,014,502 1,350,908 1,356,868 1,794,002 3,026,989 Gross profit 207,686 248,939 224,374 279,639 465,900 Gross profit margin 20.5% 18.4% 16.5% 15.6% 15.4% Operating profit 152,919 176,710 130,915 182,096 310,722 Operating profit margin 15.1% 13.1% 9.6% 10.2% 10.3% Net income 99,358 104,690 41,917 68,329 154,245 Net income/share (full amt.) 199 209 84 111 220 Total assets 1,298,358 1,473,649 1,929,498 2,503,171 5,306,479 Total equity 560,443 645,117 664,859 1,301,225 1,437,127

Performance Update FY 2017 29 New Contracts 2013-2017

8,441

3,773

3,088

1,621

606

2013 2014 2015 2016 2017 Notable New Contracts, 2017 as follows: 2017 • Toll Jakarta – Cikampek II Elevated Project 12% • Toll JORR II Kunciran – Serpong Project • LRT Cawang – Dukuh Atas, Cibubur & Bekasi Timur

Others: • Soil Improvement Work (Central Java Project) • Mixed-Use Development (Kebon Sirih) 88% • Bored Pile St. Regis • Menara Tendean • PLTU Jepara, Bored Pile - Tanjung Jati Phase 5 & 6 Foundation Infrastructure

Performance Update FY 2017 30 Order Book (In Billion Rupiah)

Carry Over (5,115) New Contract (3,773)

Carry Over New Contract (3,136) (8,441)

Revenue Revenue (1,794) (3,027)

Order Book/Contract on Hand: 5,115 Order Book/Contract on Hand: 10,529

2016 2017

Performance Update FY 2017 31 Business Strategy & Updates

Performance Update FY 2017 32 Our Strong Foundation

Our competitive advantages set us apart from our competitors.

Integrated •The only construction company in Indonesia capable of undertaking works from deepest foundation and basement to high-rise structures (integrated) Experience •More than 22 years of experience Competitive •One of the leading building, foundation, and diaphragm wall specialist contractors in Indonesia Branding •Brand recognition in prestigious and high-end projects with wide client base Management •Experienced and dedicated management team Wide range of capabilities •Capable in handling a wide spectrum of projects Leveraging network •Leverage our nation-wide network through being a member of United Tractors and Astra Group Strong Financial Capability •Backed up by robust financial capability as a member of United Tractors and Astra Group

Performance Update FY 2017 33 Business Strategy

Put forward safety and Diversification to quality principles as infrastructure and soil- differentiation improvement works factors of the Company

Strengthen Establish strategic competences and alliance both with value chain, actively Astra Group network seek for new opportunities and external parties and compete in fairly

Performance Update FY 2017 34 Building Trust and Partnership

PT Acset Indonusa Tbk. ACSET Building—Jalan Majapahit no. 26 Petojo Selatan, Jakarta Pusat 10160 Indonesia www.acset.co

ACSET is a publicly listed company in the (IDX: ACST).

Performance Update FY 2017 35