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Jasa Marga Update 1Q2018

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Jasa Marga Update 1Q2018 as of March 31st, 2018 Company Overview Company overview Brief Snapshot Company highlights • Leading toll road operator in Indonesia with 40 years of experience ü Largest toll road operator in Indonesia with 63,6% market share in • 33 toll road concessions with total length of 1,497 km terms of commercial toll roads lengths (732 km) and 80% market • 70% owned by the Government of Indonesia share of toll road transacOon volume • Publically listed on the Indonesia Stock Exchange since 2007, with a ü The longest concession period holder in Asia reflecOng stable market cap IDR 32.78trillion as of March 31st,2018 income • Key business ü Strategically important with strong government ownership – ConstrucOon, operaon and maintenance of toll road ü Resilient industry with strong government focus • SupporOng business / other business ü Strong financial profile with promising growth going forward – Toll Road Operaon Services (Provides operaon services for Jasa Marga and other toll road investors) – Toll Road Maintenance Services (Provides maintenance services for Jasa Marga and other toll road investor) – Property (ages rest areas and other properOes on toll road corridors) Vision & Mission To be the largest, trusted and sustainable national 1Q2018 segmental revenue breakdown Vision toll road network company. Other Business Revenue 1. Lead the development of toll road networks in 8% Toll Revenue – Indonesia to increase naonal connecOvity. Subsidiaries 10% 2. Manage the toll road business along the end-to- end value chain in a professional and Toll Revenue – sustainable manner. Jasa Marga Mission (13 old 3. Maximize the regional development to concessions in accelerate community advancement and balance sheet) 82% increase company profitability. 4. Enhance customer sasfacOon through service excellence 3 Company Key Development Milestone üJasa Marga was established ü Government offered the opportuniOes with focus on business for the private sector to parOcipate in The authority funcon was Jasa Marga became a public management, maintenance and toll road business through Build, returned to the Government, company through an Inial Operate and Transfer (BOT) system procurement of the toll road Toll Road Regulatory Agency Public Offering (IPO) and network. with Jasa Marga. ü (BPJT) under the Ministry of listed its shares on the üJagorawi as the first toll road in Jakarta Toll roads operated by Jasa Marga iniOated its operaons Public Works. Indonesia Stock Exchange. Indonesia began operaons. gradually. 1978 1987 2004 2007 üCurrently operang 22 toll road concessions ü Won tender of Batang- Semarang, (732km in length) Forming of PT Jasa Balikpapan-Samarinda, Manado-Bitung üFully implemented Implementaon of Implementaon of Layanan Operasi (non dan Pandaan- Malang Toll Road. electronic payment e-Toll Card. e-Toll Pass. toll road subsidiary. ü Integrated of Jakarta-Brebes Toll Road system in all toll roads 2009 2012 2015 2016 2018 4 Company Structure Jasa Marga operate 13 mature toll road in parent level and currently operate 9 new toll road and construct 11 new toll road concessions in subsidiary level. Government Shareholding Structure of Indonesia (“GOI”) Parent Level [CATEGORY NAME] 1. Cawang-Tomang-Pluit (Jakarta Inner Ring Road) [VALUE] Ministry of State- [CATEGORY 2. Prof. Dr. Ir. Sedyatmo (Airport) Owned Enterprises NAME] 3. Padalarang [VALUE] (“MSOE”) Foreign 4. Cileunyi [VALUE] 5. Jakarta-Cikampek 6. Palikanci [CATEGORY 70% NAME] [VALUE] 7. Jagorawi 8. Surabaya-Gempol Public [CATEGORY 30% 9. Semarang [CATEGORY NAME] 10. Jakarta Outer Ring Road NAME] [VALUE] [VALUE] 11. Ulujami-Pondok Aren As of 31st Mar 2018 12. Jakarta-Tangerang 13. Belmera PT PT Cinere Serpong Jasamarga PT Jasamarga Gempol PT Jalantol Lingkarluar PT Jasamarga PT Ngawi PT Jasamarga Probolinggo PT Jasamarga PT Marga Sarana Jabar PT Jasamarga Bali Tol PT Jasamarga Kualanamu Tol Jaya PT Jasamarga Manado Bitung Japek Pandaan Tol Pasuruan Kertosono Jaya Banyuwangi Tollroad Jakarta Selatan PT Jasamarga 55% 55% 92,2% 55% 55% 65% 98,81% 60% 55% Operator 99% 80% Tollroad Operator PT Jasamarga Transjawa Tol99.9% 65% PT Jasamarga PT Marga PT Jasamarga Solo PT Jasamarga Semarang PT Jasamarga Pandaan PT Jasamarga Surabaya PT Jasamarga Kunciran PT Jasamarga Balikpapan PT Jasamarga Probolinggo PT Jasamarga Tollroad Jalanlayang PT Transmarga Jateng Lingkar PT Marga Trans Nusantara Ngawi Batang Malang Mojokerto Cengkareng Samarinda Banyuwangi PT Jasamarga Properti Maintenance Jakarta Cikampek 58,91% 60% 60% 60% 80% 55% 76,24% 55% 55% 99,8% 99,7% 65% 80% Anak Perusahaan Jalan Tol Anak Perusahaan Usaha Lain 5 Key Strategy Operang Strategy Funding Strategy • Toll Road Business Development • Bank Loans Facility : – Adding toll roads to increase the value of the Company and To bridge funding needs before approaching the capital to maintain current market leadership in the foreseeable market future – In the long term, aim to conOnue operang the best quality • Project Bonds in at Project level : commercial toll roads and maintain majority of market share To replace the bank loan financing with fixed interest rate in Indonesia and the principal payment inline with the cashflow • Toll Road OperaLon • Bond/Sukuk Issuance at Corporate level: – Operang efficient, safe, and high quality toll road to To finance investment for new toll road project improve operaonal performance – Providing excellent service to road users, community, and government • Equity Fund Raising : To maintain our profitability and also leveraging our financing capacity. • Other Business Development – Develop other businesses that are strategically strengthening development strategies and operaon of toll roads • Securizaon on selected toll road : – Increase revenue by leveraging the resources of the To leverage mature assets for debt financing without Company incurring any interest burden. 6 Jasa Marga’s Achievement 2017 7 Strong Corporate Governance and Highly Qualified Management Team Experience management with over 25 years of experience, deep understanding on the industry/sector, and long-term relaLonship with stakeholders Desi Arryani – President Director • Indonesia ciOzen, 54 years old • Has work experience in ConstrucOon sector more than 20 years. Previously served as Operaons Director I of PT Waskita Karya (Persero) Tbk. which is SOE contractor in Indonesia. • Completed her Bachelor degree in Civil Engineering from University of Indonesia (1987) and Master degree in Management from Prasetya Mulya (2008). Donny Arsal – Director of Finance • Indonesia ciOzen, 47 years old • Has work experience in Financial sector more than 23 years. Previously served as Managing Director PT Mandiri Sekuritas. that look aer for Investment Banking Division. • Completed Bachelor Degree from University of Indonesia (1991). Mohammad Sofyan – OperaLonal Director I • Indonesia ciOzen, 46 years old • Join Jasa Marga since 1997 and has lead in various sector such us toll road project, IT and strategic corporate planning. Previously served as Corporate Secretary PT Jasa Marga (Persero) Tbk. • Completed Bachelor Degree in Civil Transportaon Engineering at Sepuluh November InsOtute of Technology Surabaya (1996) and Master Degree in Project Management from University of Indonesia (2003) and Master Business & IT from Melbourne University (2007). Subak Syukur – OperaLonal Director II • Indonesia ciOzen, 54 years old • Join Jasa Marga since 1986 and has work experience in toll road operaons more than 20 years. Previously served as President Director of PT Marga Lingkar Jakarta (one of Jasa Marga’s Subsidiary). • Completed Bachelor Degree in Civil Engineering from Bandung InsOtute of Technology (1986) and Master degree in Management from University of Kristen Indonesia (2010). Adrian Priohutomo – Director of Development • Indonesia ciOzen, 54 years old • Has work experience and major success in conceptualizing, developing and managing commercial and housing estates. Previously served as President Director of PT Permata Graha Nusantara. • Completed Bachelor Degree at InsOtute of Bandung Teknology (1988) Kushartanto Koeswiranto – Director Of Human Resources And General Affairs • Indonesia ciOzen, 56 years old • Having work experience in Human Resources sector more than 20 years. Previously served as President Director KTalents Asia, Head of HR Podomoro Group, and HR & Business Support Director Loe Shopping Indonesia. • Completed Bachelor Degree at Diponegoro University and MBA at IPMI. 8 Industry Overview Overview of the Indonesian Toll RegulaQon Ease derived from highly regulated industry • Certainty of tariff increase every two years according to regulaon • The Oming of the land acquisiOon process is faster, if any dispute is decided by the court • PotenOal for efficiency from cashless transacOon Overview of the authories involved Toll Tariff Government of Indonesia • IniOal toll tariff is calculated based on • investment feasibility, toll road user’s ability to pay and vehicle operang cost saving • IniOal toll tariff is sOpulated in concession agreement prior to start of construcLon Ministry of State Ministry of Public • Tariff adjustment is regulated by law, is calculated based on regional Owned Enterprises Works CPI and is adjusted once every 2 years Indonesian Toll • IniOal toll tariff setup and subsequent adjustment is decided by Road Authority Directorate General (BPJT) of highways Minister of Public Works decree - The ministry may postpone tariff increases if a toll road fails to Concession agreement Concession agreement comply with minimum service
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