Reliable, Clean and Efficient Power

PT LISTRINDO TBK

Investor Presentation 9M 2020

November 2020 Strictly Private & Confidential Disclaimer

This presentation material has been prepared solely for use in a presentation to be made by PT Cikarang Listrindo Tbk (the “Company”). This presentation material and any information contained herein is highly confidential and may not be copied, reproduced, redistributed, transmitted or disclosed to any other person in any manner. Any forwarding, reproduction or distribution of this presentation material, in whole or in part, is unauthorized. By attending this presentation, you are agreeing to be bound by the foregoing restrictions and to maintain absolute confidentiality regarding the information disclosed in these materials, the existence and scope of this document and of all conversations regarding this potential investment opportunity. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

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This presentation material contains certain forward-looking statements with respect to the future financial condition, results of operations and business of the Company, the industry in which the Company is engaged, and certain plans and objectives of the management of the Company. Such forward-looking statements are based on assumptions regarding the Company's present business strategies and a number of assumptions regarding matters which are beyond the Company's control, including the political, social, legal and economic environment in which the Company and its subsidiaries will operate in the future. These statements typically contain words such as "will," "expects" and "anticipates" and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of operations or performance of the Company to be materially different from any projected results or performance expressed or implied by such forward- looking statements. Reliance should not be placed on these forward-looking statements, which reflect the view of the Company's management as of the date of this presentation material only. The Company, advisors and representatives undertake no obligation to update these forward-looking statements for events or circumstances that occur subsequently. In any case, past performance is not necessarily an indication of future results. Statistical and other information relating to the global economy and the industry in which the Company is engaged contained in this presentation material have been compiled from various publicly available official or unofficial sources. The quality of such source materials cannot be guaranteed. Moreover, statistics derived from multiple sources may not be prepared on a comparable basis.

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/ 1 Agenda

1. Recent Update 3

2. Operational Performance 5

3. Financial Performance 9

4. Future Development 15

/ 2 01

Recent Update

/ 3 Recent Update

Jul-20 Sep-20 Sep-20 Oct-20 Based on the GMS held on The Company's GSPP in The Company was awarded as The Company published its July 17, 2020, the Company Jababeka and GFPP in MM- the Best CSR for Indonesia first Sustainability Report (SR) distributed a total dividend for 2100 has received an CSRxPKBL Award 2020 in the for the year 2019, separated FY19 of US$73 million equals Assurance Statement, issued infrastructure, utilities and from the Company’s Annual to dividend yield of 11.7%1. by Transpacific Certifications transportation category, Report (AR). Limited, confirming Company’s subsector energy from Warta The GMS also approved the 2019 GHG emission in Ekonomi. This is an early adoption plan for share repurchase with accordance with ISO of the OJK Regulation No. maximum amount of US$10 14064:2006. This completes 51/POJK.03/2017 concerning million or equivalent to earlier Assurance Statement the Implementation of Rp146.3 billion2 and will be obtained by the Company for Sustainable Finance for funded by our internal cash its CFPP in Babelan, issued by Financial Service Institutions, flow. Lloyd’s Register. Issuers and Public Companies.

Source: Company data. 1. Shares price as of September 30, 2020 (Rp570) and excluding treasury shares as of September 30, 2020 (338.8 million shares) / 4 2. Using middle rate as of July 16, 2020 (Rp14,632) 02

Operational Performance

/ 5 Operational Performance (1/2)

Historical Consumption Growth Net Capacity Factor1,2 (GWh) Availability 94% 97% 96% 96% 98% 94% Factor1 % 6,000 (%) 5,108 5,155 0.9% 100% 86% 87% 4,500 77% 1,906 0.3% 3,838 80% 1,912 67% 68% 61% 2,770 60% 3,000 1,429 27.8% 11%3 45.4% 781 40% 1,500 3,196 3,249 1.6% 2,409 50% 1,989 17.4% 20%

0 0% 2018 2019 9M19 9M20 2015 2016 2017 2018 2019 9M20 IE PLN Net Plant Heat Rate1 Network Distribution and Transmission Line Losses4 (Btu/kWh) (%)

12,000 5.0%

9,315 9,259 9,637 8,739 4.0% 9,000 8,274 8,276

3.0% 6,000 2.0%

3,000 1.0% 0.6% 0.6% 0.7% 0.7% 0.7% 0.7%

0 0.0% 2015 2016 2017 2018 2019 9M20 2015 2016 2017 2018 2019 9M20

Source: Company data as at September 2020, unless otherwise indicated. 1. Combination of Gas-Fired Power Plant and Coal-Fired Power Plant. 2. Net capacity factor is the ratio of power plant’s total kWh generation in a given period to its maximum possible kWh generation based on 646MW from Mar 2011 (109MW installed in Jun 2012 and another 109MW in August 2015 out of 864MW are considered as standby capacity); 786MW from May 2017 (140MW added in May 2017); 926MW from Sep 2017 (140MW added in Sep 2017); / 6 3. Adjusted with the effect of discontinued PLN-1; 4. Network distribution and transmission line losses are electricity line energy losses in the process of supplying electricity from our plant to the customers. Operational Performance (2/2)

IE Customer Energized1 Capacity IE Customer Breakdown

(# of 2,185 2,252 2,351 2,411 2,464 2,483 Share of Energized Capacity Share of KWH Sold Tenants) by Geography2 by Industry (kVA 000’s) Heavy US Data 1,200 1,052 1,072 1,111 1,125 ASEAN Taiwan Industry Others 978 1,014 1% Center 6% 2% Others 2% 13% Consumer 4% 900 Europe 1% Automotives Goods 5% 27% 4% 600 South Korea Chemicals 7% 6% 300 Japan Indonesia 49% Food Electronics 29% Plastics 0 9% 20% 15% 2015 2016 2017 2018 2019 9M20

Length of Customer Relationship Low Customer Churn Rate3 and Bad Debt4

(%) (Churn Rate, %) (Bad Debt, %) 80% 5.0% 3.00% 69% 4.0% 60% 2.00%

3.0% 40% 1.00% 2.0% 0.3% 22% 0.2% 0.1% 0.1% 0.1% 0.1% 20% 0.00% 1.0% 9% 0.6% 0.5% 0.5% 0.2% 0.3% 0.4% 0% 0.0% -1.00% >10 years 5–10 years <5 years 2015 2016 2017 2018 2019 9M20 Churn Rate Bad Debt Source: Company data as at September 2020, unless otherwise indicated. 1. Energized kVA represents the amount of capacity each IE customer has purchased for use under the offtake agreements; 2. Based on nationality of customers’ corporate parent; 3. Churn rate defined as rate at which customers stop subscribing to Cikarang Listrindo’s service; 4. Calculated by dividing impairment loss on receivables with total net sales. / 7 Operational Performance during Crisis

COVID-19 vs 2008-2009 Global Financial Crisis

Industrial Estates Customers’ Industrial Estates Customers’ Monthly Consumption 2020 Monthly Consumption 2008 - 2009

PSBB1 PSBB1 Transitional PSBB PSBB1 (GWh) Jakarta & Bekasi Jakarta (GWh) 280 200 Lebaran 6% holidays 12%

-25% -37% 140 October 2020 100 May 2009 consumption was consumption was 94% of February 88% of October 2020 consumption 2008 consumption

0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct

• Q3 2020 has been recovered to 91% of pre-covid period and the recovery trend continues to October. • Industrial Estates customers’ consumption starts recovering as the result of the economy reopening through relaxation of Large-Scale Social Restrictions1 (PSBB1) by provincial government

Source: Company data. 1. Referred to social mobility restriction, while industrial activities remain the same with protocols from the Ministry of Health and the Ministry of Industry. / 8 03

Financial Performance

/ 9 Financial Performance

Profit & Loss (US$ million) 9M20 9M19 ∆ ∆ % Cash Flows (US$ million) 9M20 9M19 ∆ ∆ % Revenue 341.8 440.0 (98.2) (22.3%) Net Cash Provided by 109.1 82.6 26.5 32.1% Operating Activities - IE 266.0 324.0 (58.0) (17.9%) Net Cash Used in Investing - PLN 75.8 116.0 (40.2) (34.7%) (15.5) (8.1) (7.3) 90.4% Activities Cost of Sales (204.0) (279.0) 75.0 (26.9%) Cash Used in Financing (46.0) (64.1) 18.0 (28.2%) Gross Profit 137.8 161.0 (23.2) (14.4%) Activities Net Increase in Cash and Operating Expenses (37.4) (43.8) 6.4 (14.5%) 47.6 10.4 37.2 356.2% Cash Equivalents EBITDA 142.3 170.9 (28.6) (16.8%) Effect of Exchange Rate Gain (Loss) on Foreign (12.2) 1.1 (13.4) (1,180.1%) Changes on Cash and Cash (7.1) 1.7 (8.8) (513.8%) Exchange, Net Equivalents Profit Before Income Tax 71.0 97.9 (26.8) (27.4%) Cash and Cash Equivalents at 283.2 168.5 114.7 68.0% Income Tax Benefit (Expense) (22.4) (19.0) (3.4) 17.7% End of Period

- Current (4.8) (8.8) 4.0 (45.2%) Balance Sheet (US$ million) 9M20 2019 ∆ ∆ % - Deferred (17.6) (10.2) (7.3) 71.8% Total Assets 1,310.4 1,324.8 (14.4) (1.1%) Net Income 48.6 78.9 (30.2) (38.3%) Total Liabilities 648.3 665.2 (16.8) (2.5%) Treasury Shares1 (21.0) (19.7) (1.3) 6.8% Equity2 662.1 659.6 2.4 0.4%

Profitability Ratios (%) 9M20 9M19 Financial Ratios (x) 9M20 2019 Gross Margin 40% 37% Current Ratio 10.2x 6.7x EBITDA Margin 42% 39% FCCR3 > 1-2.5x 6.6x 7.9x Net Income Margin 14% 18% Net Debt4 to EBITDA5 < 3.75x 1.3x 1.3x

Note: 1. As of September 30, 2020, we have repurchased a total of 346.0 million shares, of which 7.2 million shares have been distributed as a partial bonus to the Company’s employees as a replacement to cash. Therefore / 10 the Company’s total treasury stock as of September 30, 2020 of 338.8 million shares; ; 2. Unappropriated retained earnings of US$251.7 million as of September 30, 2020; 3. Fixed Charge Coverage Ratio (FCCR) is calculated by dividing consolidated EBITDA with fixed charges; 4. Net debt is defined as Total Debt less Cash and Cash Equivalents; 5. EBITDA 9M20 was annualized from October 1, 2019 to September 30, 2020 FX Translation Impact to the Financial Statement (Rp/US$) -2.1% +7.3% • As of September 30, 2020, the Rupiah has depreciated by 4.3% 17,500 compared to June 30, 2020 and depreciated by 7.3% compared to December 31, 2019. 16,367 • The Company booked FX loss incurred from weakening Rupiah 16,000 against US$ for the first 9 months in 2020. FX loss impact mainly came from the translation of net monetary assets 14,918 derived from cash and cash equivalents & receivables which 14,481 were recorded in Rupiah. 14,244 14,302 14,500 14,141 14,174 13,901 • This also impacted the corporate income tax and deferred

FX Movement FX income tax expense as our tax report is in Rupiah.

13,000

(US$ million)

79 76 79 ( 3 ) 76 62 13 62 49 49 38% 18%

Net Income FXFX translation translation Net Income Net Income FX translation Net Income Net Income Net Income Net Income Net Income NetIncome Gap Analysis 9M19 (net(net of tax)of tax) and 9M19 (Adjusted) 9M20 (net(net of oftax) tax) and 9M20 (Adjusted) 9M19 9M20 9M19 (Adjusted) 9M20 (Adjusted) FX effect on FX effect on current & current & deferred deferred income taxes income taxes

Source: Company data; Bank Indonesia. / 11 Key Financial Ratios

FCCR Leverage Ratio

• Ratio of the aggregate amount of Consolidated EBITDA • Ratio of Net Debt1 to Consolidated EBITDA for the last four divided by Fixed Charges for the last four quarters. quarters. • The Company for the past 5 years has consistently met the • The Company for the past 5 years has consistently met the FCCR bond covenant (should not be less than 1 - 2.5x). leverage ratio bond covenant (should not be greater than 3.75x).

9.0 9.0 7.7 7.9 7.3 6.6

6.0 5.3 6.0 4.7 3.75

3.0 2.50 3.0 2.2 1.8 1.7 1.6 1.3 1.3 1.00

0.0 0.0 2015 2016 2017 2018 2019 9M20 2015 2016 2017 2018 2019 9M202

FCCR is greater Leverage Ratio is than 1 - 2.5x less than 3.75x

Source: Company data 1. Net debt is defined as Total Debt less Cash and Cash Equivalents. 2. Annualized from October 1, 2019 to September 30, 2020 / 12 Dividend Payout

Historical Dividend since IPO

(US$ million) • The historical dividend payout is above the dividend payout communicated during IPO of 60%. 73 73 69 66 • Management is committed to distribute a regular dividend (interim and final dividend) with careful consideration to the Company’s cash flow.

48 45 • POWR dividend yield of 11.7% is amongst the 5 54 top 15 highest dividend yield on the IDX . 56 • That dividend yield is also greater than average Thai’s power companies’ dividend yield3 of 2.4% and MSCI Emerging Market4 of 2.4%. 25 28 3 10 15 Dividend Yield 11.7% 2016 2017 2018 2019 Average Thai’s companies’ Dividend Yield of 2.4% Interim Dividend Final Dividend 4.8% 3.5% 2016 2017 2018 2019 2.3% 0.9% 0.9% Dividend Payout 64% 64% 92% 64% POWR.IJ RATCH.TB EGCO.TB GPSC.TB GULF.TB BGRIM.TB Total Rp56/share Rp60/share Rp67/share Rp67/share Dividend/Share1 Dividend Yield2 9.9% 10.5% 11.7% 11.7%

Source: Company data 1. Excluding treasury shares as of September 30, 2020 (338.8 million shares) 4. MSCI Emerging market Index (USD) as per September 30, 2020 / 13 2. Share price as of September 30, 2020 (Rp570/share) 5. Data compiled from tradingview accesed on October 27, 2020 and calculated using share price as of September 30, 2020 3. Data Dividend for the period 2019 and share price as per September 30, 2020 Replacement Value Analysis

Indicators indicate significant under value of POWR stocks

JLT’s Implied Book Value1 Replacement Description Capacity (MW) (US$ million) Cost (US$ million)

Gas Fired Combined Cycle 646 88 5812

Gas Fired Simple Cycle 218 87 1092

Coal Fired Power Plant 280 417 475

Transmission & Distribution - 46 112

Land - 70 121

Total 1,144 706 1,398

The Company’s Enterprise Value as of September 30, 20203 859

 Indicative replacement cost accepted by Jardine Lloyd Thompson (JLT), our insurer, to value Company’s asset

 The Company’s Enterprise Value of US$859 million3 is lower than the Asset’s Replacement Value

1. Data as per September 30, 2020 2. Data from Jardine Lloyd Thompson (Company’s insurer) / 14 3. EV as per September 30, 2020 using share price as of September 30, 2020 (Rp570/share) 04

Future Development

/ 15 Potential Capacity Growth from Data Center Market (1/3)

CAGR of Data Center Market Size in SEA1 Region (2019 – 2024F) › The global pace of ICT development and implementation has not been slowed by the on Bangkok, Thailand going global pandemic. 5-Year CAGR: 12.5% › This rapid digitalization and the surge in demand for Hanoi, Vietnam Ho Chi Minh City, Vietnam 1 5-Year CAGR: 14.5% 5-Year CAGR: 12.4% cloud-based services will make SEA region the fastest growing region for co-location of data centers over the next five years. Its market size is projected to be expanding by a CAGR of 13% between 2019 and 2024F.

Kuala Lumpur Manila, Philippines › Indonesia is set to be the fastest growing market for (Cyberjaya), 5-Year CAGR: 14.2% 1 Malaysia data centers in SEA , with an expected growth rate of 5-Year CAGR: 22% per annum over the next five years. Google’s 12.9% entry into Indonesia demonstrates a developing interest in the country as a potential alternative to Singapore.

› Land owners and real estate landlords are increasingly open to catering to the development of data centers.

Singapore 5-Year CAGR: 5.1%

Jakarta, Indonesia 5-Year CAGR: 21.8% Region CAGR2 Co-location Singapore Vietnam Market Size

Malaysia Indonesia APAC (incl. SEA) 12.2% US$28.0 billion

Thailand Philippines SEA 12.9% US$3.5 billion

Source: Data Centers in Southeast Asia Poised for Rapid Growth, 2019 by Cushman & Wakefield Pte Ltd 1. Southeast Asia / 16 2. CAGR between 2019 – 2024F Potential Capacity Growth from Data Center Market (2/3)

› Indonesia is one of the rising star which are developing rapidly and SEA Internet Economy (GMV2, US$B) expected to increase the share of the SEA region’s data center pie, with 32% abundance of land mass for data center operations to expand, ease of access and lower cost of entry compared to Singapore. 133B › Indonesia’s digital economy is the largest and fastest-growing in Southeast Asia and expected to reach some US$130 billion by 2025. 24% 29% › Rapid growth of startup companies in Indonesia – the country currently 49% have 6 of 13 unicorn companies in ASEAN1. 18% 27% 15% 50B 32% 43B › Favorable Government regulations support the development data center 40B 21% 17% 29% 38% 27B infrastructure. 26B 25B 11B 12B 16B 12B 8B 5B 7B 7B 6B 3B › In late 2019, Government announced the completion of Palapa Ring project 2B

– a priority infrastructure project that aimed to provide access to 4G Indonesia Malaysia Philippines Singapore Thailand Vietnam Indonesia Data Center Market internet services to more than 500 regencies across the country. The project 2015 2019 2025 CAGR features more than 35,000km of land and undersea fiber-optic cables.

Data Center Tiers Projected Energized Capacity from Data Center (‘000 kVA) Tier 4 POWR’s Key Data Center Players3 467 › 99.995% availability 443 › Est. 0.4 hours annual downtime 381 303 Tier 3 › 99.982% availability 165 › Est. 1.6 hours annual downtime 61 Tier 2 › 99.749% availability › Est. 22.0 hours annual downtime 2020 2021 2022 2023 2024 2025

Tier 1 As of 9M20, data center industry contracted capacity is 49MVA and projected will grow to 61MVA by the end of 2020. › 99.671% availability Power: Power: Integral an of Part Data Center In addition to current customers’ expansion, we are expecting › Est. 28.8 hours annual downtime 2 more new data centers.

Source: Frost & Sullivan, 2019; e-Conomy SEA 2019 Report by Google, Temasek & Bain & Company; The Future of Data Centers in the Face of Climate Change by Digital Realty and Eco Business 1. A Unicorn company is a privately held startup company valued at over US$1 billion / 17 2. Gross Merchandise Value 3. Princeton Digital Group, previously XL Axiata Potential Capacity Growth from Data Center Market (3/3)

› Indonesia is among the Asian countries tightening requirements to house consumer data locally for the purpose of data protection. › Supportive regulations play a critical role in unlocking growth opportunities in Indonesia data center market.

Public Domain Banking and Insurance Sector

OJK regulation No. 38/POJK/03/2019 for Bank Government Regulation No. 71/2019 OJK No. 69/POJK/05/2016 for Insurance

› Public domain of electronic system operator must then conduct › Banks and Insurance Company are required to place the its management, processing and/or storage of their electronic Electronic System on Data Centers and Disaster Recovery system and data within Indonesian territory, unless the Centers in the region of Indonesia, or outside Indonesia by Indonesia Data Center Market Center Data Indonesia technology for storage is unavailable in Indonesia, as getting approval form OJK. determined by the Ministry. › For them who have placed it outside the territory of › The public domain of electronic system operator must comply Indonesia, must move Data Centers to Indonesia. with this stipulation within two years after the issuance of this regulation (4 October 2021).

I’ve seen many global players in the likes of Microsoft, Amazon, Alibaba, Google who have expressed interest to join and have even begun to develop their data centers in Indonesia.

Indonesia has great potentials and the most active startup ecosystem as well as the largest digital market in Southeast Asia.

-President of Indonesia

Source: https://setkab.go.id/en/president-jokowi-calls-for-regulations-on-investment-in-data-center/ dated February 28, 2020 / 18 Green Energy Initiatives

We are committed to develop Renewable Energy to our generation mix

Solar Rooftop Co-firing with Biomass in CFB Boiler

 Starting 2019, we have started our commitment to Renewable  In 2017, Company managed to have successfully commissioned Energy through the installation of solar panel in our customer's its Coal Fired Power Plant with Circulating Fluidized Bed (CFB) rooftop. This could be made possible after our successful pilot boiler technology. This allows the Company to diversify its project on our own office rooftop in Jababeka. generation mix, due to the lack of availability of affordable natural gas.  We have installed 200kWp solar rooftop over the customer's office. In 2020, we expect to add 150kWp in Q4 of 2020.  Despite that, our focus on the environment never wavered. The investment in the CFB boiler technology supplied by Valmet, a Finnish company, allows us to burn wider range of coal and even biomass. This technology allows us to burn lower calorific value coal that contains lower pollutants and producing a better emission. It also allows us to burn biomass such as Palm Kernel Shells / Woodchips / Rice Husks as fuel source.  In 2019, Company performed pilot projects using PKS as alternative biomass. The pilot project confirmed of 1,089ton of PKS or equal to 1,635MWh of power.

The Company’s commitment toward environmental aspect is also proven by securing the Assurance Statement conforming its 2019 GHG emission in accordance with ISO 14064:2006. The assurance statement has been verified and certified by international certification bodies, Lloyd’s Register (LRQA) for CFPP Babelan, issued on March 20, 2020 and Transpacific Certifications Limited (TCL) for GSPP Jababeka and GFPP MM-2100, issued on September 14, 2020.

Source: Company data. / 19 National Strategic Project: BEKAPUR1 Industrial Area to Accelerate Industrialization & Anticipate Industrial Revolution 4.0

BEKAPUR Map BEKAPUR1’s Industrial Area Contribution

±14% 1.6 6,465ha Island 23 National Industrial Estates million Current Industrial Industry GDP Area Transmission Lines Workforce CBL Canal

Cibitung – Toll Road Port CBL Inland BEKASI REGENCY Waterways  Government plans to integrate the entire industrial estates in International Airport Cikarang Direction of Dry Port Java regencies, namely Bekasi, Karawang and (BEKAPUR) LRT DKI JAKARTA Patimban Deep to become a National Strategic Area to enhance industrial Elevated Toll Road Sea Port

Kertajati International development and productivity, which will bring multiplier effects to BEKASI Airport MUNICIPALITY the national economy. Jakarta – Semarang Express Train Jakarta – 1 Express Train  Full utilization of entire BEKAPUR industrial area (11,636ha) could become the biggest industrial estate area in the world or bigger than Jubail Industrial Estate in Saudi Arabia of 8,000 ha. Current land utilization in this area is approximately 55% (as per December 2018).

PURWAKARTA REGENCY  It is estimated that this area will eventually housed 60% of total industries in Indonesia.

Jababeka Industrial Estate

MM-2100

East Jakarta Industrial Park (EJIP) Hyundai Inti Development

Lippo Cikarang

Sources: Coordinating Ministry of Maritime Affairs’s Presentation Material on January 30, 2019; https://www.liputan6.com/bisnis/read/3866920/pelabuhan-patimban-bakal-operasi-akhir-2019 dated January 9, 2019; http://sumsel.tribunnews.com/2019/02/14/proyek-lrt-jabodetabek-capai-583-persen-april-2021-sudah-bisa-dinikmati dated February 14, 2019; http://propertyandthecity.com/bekapur-menuju-megapolitan-tahun-2045/ dated May 9, 2018; https://katadata.co.id/berita/2019/01/31/luhut-siapkan-wilayah-bekapur-untuk-investasi-Hyundai dated January 31, 2019; http://www.the-saudi.net/saudi-arabia/jubail/Jubail%20Industrial%20City%20-%20Saudi%20Arabia.htm; / 20 http://propertyandthecity.com/bekapur-menuju-megapolitan-tahun-2045/ dated May 9, 2018. 1. Bekasi, Karawang and Purwakarta Significant Infrastructure Development to Increase Connectivity in BEKAPUR1 area

CBL Inland Waterways Cibitung – Cilincing Toll Road Patimban Deep Sea Port Infrastructures Completion Target Capacity

Kertajati International Completed 5.6 million passenger/year & Airport 1.5 MT/year cargo Elevated toll road Completed Additional 125k vehicles per day

Jakarta Bay Cibitung – Cilincing Patimban Deep Seaport 2020 3.5 million TEU/year and 600k Toll Road Tanjung Priok Port CBU vehicle CBL Inland Waterways Jakarta International Airport Direction of Cibitung – Cilincing Toll 2021 34 km Road Cikarang Patimban Deep LRT Dry Port Sea Port DKI JAKARTA Cikarang Bekasi Laut 2021 1.5 million TEU/year Kertajati International Elevated Toll Road KARAWANG (CBL) canal Airport Jababeka REGENCY BEKASI MUNICIPALITY MM2100 Express Train Jakarta – 2022 44 minutes & 109K Hyundai EJIP Lippo Jakarta – Semarang Bandung passenger/day Cikarang Express Train Delta Surya KIIC Silicon Deltamas Cipta Light Rapid 2H 2022 40 – 45 minutes for Jakarta – Bandung Express Train Transportation (LRT) 25 – 30 km Express Train Jakarta – 2024 3.5 hours Semarang LRT Meikarta Jakarta – Bandung Express Train Jakarta – Semarang Express Train  Infrastructure development will provide better connectivity between the industries. Government expect this will attract massive economic activities in the BEKAPUR1 area due to:  Lower logistic costs and increase efficiency in distribution  Better supply chain connectivity  Government understands in order to accelerate industrialization, the key  Improve economic purchasing power and ability to provide significant feature is to improve the connectivity surrounding the industrial estates in number of job creation BEKAPUR1  Further, the President of Indonesia, on September 2020 has instructed to  There are various significant infrastructure development ongoing to support accelerate the development of Patimban Deep Seaport to be connected to the integrated industrial estates in , especially BEKAPUR1 area Kertajati Airport, Majalengka and the industrial areas of BEKAPUR1

Sources: Bisnis Indonesia Newspaper dated February 20, 2020; https://www.cnbcindonesia.com/news/20200203160856-4-134845/jakarta-semarang-nyambung-kereta-cepat-5-jam-jadi-35-jam dated February 3, 2020; https://ekonomi.bisnis.com/read/20200121/98/1192437/lelang-operator-pelabuhan-patimban-digelar-februari-2020-ini-syaratnya dated January 21, 2020; https://ekonomi.bisnis.com/read/20191202/98/1176771/masih-studi-proyek-kanal-cbl-molor- hingga-2021 dated December 2, 2019; https://www.inews.id/finance/makro/jokowi-minta-pelabuhan-patimban-bandara-kertajati-dan-bekapur-terkoneksi dated September 22, 2020; https://finance.detik.com/infrastruktur/d-5194877/capai-60-begini- / 21 progres-proyek-kereta-cepat-jakarta-bandung dated September 30, 2020; https://ekonomi.bisnis.com/read/20201021/45/1308082/pembangunan-jalan-tol-cibitung-cilincing-ditargetkan-rampung-2021 dated October 21, 2020; https://finance.detik.com/infrastruktur/d-5225279/pemerintah-minta-lrt-jabodebek-operasi-2021-kontraktor-sanggupi-2022 dated October 23, 2020. 1. Bekasi – Karawang – Purwakarta Appendix 2019 Sustainability Report

Early adoption of the OJK Regulation No. 51/POJK/03/2017 concerning the Implementation of Sustainable Finance for Financial Service Institutions, Issuers and Public Companies

 Since its establishment, the Company is committed towards building a sustainable business and commits to supporting communities.

 The Company spirit in strengthening its sustainability commitment by carrying out the SDGs goals, is embedded in the Company’s STAR (Service, Trustworthiness, Accountability and Reliability) values.

Economic Social Environmental

US$509.7 million 3.3% 50,559,934GJ Total economic value Employee turnover rate Energy required distributed in 2019 13.2% from 2018 3.1% from 2018

US$784K 44 3,668kTon GHGe Total CSR funds disbursed Training hours/employee CO2 emissions certified by international certification bodies throughout 2019 46.7% from 2018

/ 23 Cikarang Listrindo’s Response to COVID-19

Our Business Our Communities

We have formulated a Business Continuity Plan (BCP) and We are deploying multiple assistance to support the Disaster Recovery Plan (DRP) to address the COVID-19 Government of Indonesia and all those who are at the pandemic. front line of the COVID-19 fight, as follows : We implemented strict health protocols; such as health  Contributing to the Government’s efforts in providing 15 screening every employee, outsource personnel, contractor ventilators to be distributed to state-owned hospitals. and visitor to the site.  Supporting medical personnel at the frontlines by Commitment to our customers remains the same, if not providing temporary shelter and also improved. 499,420 personal protective equipments, which consist of 485,100 medical masks, 6,170 hazmat suits and 8,150 Implementing work from home policy for our back office face shields as well as 1,000 rapid test tools. employees.  Enhancing health and safety of the communities in our Establishing COVID-19 Response Team to ensure all operating areas. business processes are in line with the Government’s COVID-19 pandemic policies.

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