PT TBK (“MNCN”) INVESTOR RELEASE

Jakarta, – 2 August 2021

Summary of Q2-2021 & H1-2021 Results: PT Media Nusantara Citra Tbk (“MNCN” or “The Company”) posted a strong net profit increase of 25% YoY in Q2-2021, securing Rp843.2 billion in net profit compared to Rp674.9 billion in the previous year. Excluding non-cash forex adjustment, net income was booked at Rp745.8 billion from Rp466.2 billion in the same prior-year period, this represents a 60% YoY increase with 27% net income margin. For H1-2021, net income increased by 26% YoY to Rp1,264 billion from Rp1,008 billion in the same period last year.

Total Consolidated Revenue MNCN has outperformed by booking a significant increase in total consolidated revenue by 40% YoY in Q2-2021 to Rp2,722 billion from Rp1,951 billion in the same period last year. While, revenue in H1-2021 was recorded at Rp4,863 billion, representing an increase of 23% YoY from Rp3,967 billion in H1-2020.

Advertising Revenue Advertising revenue for Q2-2021 increased by 47% YoY to Rp2,655 billion from previously achieved at Rp1,803 billion in the same prior-year period.

Non - digital revenue continued to be the main contributor to the Company’s advertising revenue, which increased strongly by 31% YoY from Rp1,593 billion in Q2-2020 to Rp2,087 billion in Q2-2021. Kindly note, RCTI revenue in April/21 reached the highest in Indonesian FTA history by achieving Rp441billion for the month. Moreover, the significant growth in non- digital revenue is mainly derived from the outperformance of various regular and special programs, as well as EURO 2020, that was aired in the quarter that generates significant regular ads and non-regular ads for MNCN. As seen on the table below, the Company is very close to matching the historical achievements in Q2-2019, which sets the path for positive result for the second half of the financial year 2021.

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Digital revenue accelerated to 171% YoY from Rp209.8 billion to Rp568.2 billion in Q2-2021. This is largely contributed by RCTI+ continuous solid performance, as well as MNCN’s monetization via prominent 3rd party digital platforms such as social media giants Facebook, YouTube, & TikTok and other online portals, which continued to show positive attainment in 2021.

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Meanwhile, in H1-2021, advertising revenue was up by 27% YoY to Rp4,595 billion from Rp3,615 billion in the same corresponding period last year, with the breakdown: (i) non-digital advertising increased by 16% YoY to Rp3,706 billion from Rp3,207 billion in H1-2020, and (ii) digital ads increase significantly by 117% to Rp889.2 billion in H1-2021 from Rp409 billion in the same period last year.

Content Revenue The Company’s content revenue in Q2-2021 was up by 4% YoY to Rp349.8 billion from previously Rp336.5 billion in Q2-2020. On the other hand, for H1-2021, content revenue decreased by 10% YoY from Rp807.9 billion in 2020 to Rp727 billion, which represents the content that is supplied to the group’s FTA TV. Net content revenue from third parties (shown as net content revenue after elimination) was registered at Rp221.9 billion in H1-2021.

Direct Cost and General & Administrative Expenses MNCN’s Q2-2021 direct cost increased by 68% YoY to Rp1,127 billion from Rp670 billion in the same period last year and direct cost in H1-2021 increased by 35% YoY to Rp1,868 billion from Rp1,381 billion for the same period last year. The big variance in direct costs are in line to our expectations as the jump is attributed to the significant decrease in content production during Q2-2020, which was caused by various periods of on and off semi-lockdowns implemented by the government and the commencement of EURO 2020 in Q2-2021.

General and administrative expenses were up by 13% in Q2-2021 to Rp440.6 billion from Rp388.5 billion in the same corresponding period last year. This increase stemmed from the continuous investment in digital technology initiatives for the Company and newly added portals in 2021, namely celebrities.id and sportstar.id.

EBITDA EBITDA grew by 29% YoY to Rp1,155 billion in Q2-2021 compared to Rp892.6 billion in the same corresponding period last year, representing an EBITDA margin of 42%. While in H1- 2021, EBITDA increased by 18% to Rp2,108 billion from Rp1,787 billion last year, representing an EBITDA margin of 43%.

Liabilities As of H1-2021, total liabilities decreased significantly by 18% to Rp3,659 billion from Rp4,461 billion in December 2020. Deleveraging program of MNCN balance sheet will continue for the rest of the year, particularly on its syndicate USD loan, which is maturing in August 2022.

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Recent Share Price Movement Recent update on MNCN exclusion from IDX30 index has caused the declining share movement of the Company in the week of 26 – 30 July 2021, which opened at Rp840 and closed at Rp790, this represents close to 6% share price decrease for the week. The Company’s full financial statement of Q2-2021 will be published and the Company’s AGM will be held at the end of August, and the strong fundamentals in the Company’s performance should bring significant upswing towards the share movement.

Business Update of MNCN: FTA Performance and Programming Update Continuing its solid programming performance for the year, RCTI’s prime time remains strong supported by its in-house drama production and special program line-up. As of 30 July 2021, the Company has managed to book an overall audience share of 53.4% on prime-time and non-prime time audience share reached 40.8%, where RCTI dominated a significant share with 37.5% and 18.6% audience share respectively.

Source: Nielsen (YTD to 30 July)

In terms of programming, the Company also has been producing and broadcasting leading programs in family driven programs. As of July 2021, 24 out of 30 top programs from all genres are broadcasted out of MNCN FTA TV.

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Source: Nielsen (YTD to 30 July)

During the year, MNC Pictures (MNCP), has once again proven its credibility and reputation as the leading and the largest drama production house in the country, in terms of its production quality and quantity. As of July 2021, the top 5 most watched drama series are all produced by MNCP and broadcasted out of MNCN FTA TV. Moreover, production output from MNCP also leads the industry with over 2,000 hours of content produced in H1-2021, which represents 40% production market share.

Source: Nielsen (YTD to 30 July)

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Source : Nielsen, MNC Internal Research (YTD to H1-2021)

MNCN has reserved its programming line-up consisting of special programs that are sponsorship in nature to drive non-regular advertising such as talent search, anniversary events, awarding programs, and many more. Sponsorship based programs on average generate much higher revenues compared to regular programs on FTA.

The following is a list of some upcoming programs for the Company in H2-2021:  RCTI: Master Chef Indonesia, , Dahsyatnya Award 2021, Indonesian Television Awards, AMI Awards, Silet Awards 2021, Indonesian Movie Actors 2021, RCTI 32 Anniversary Celebration, MNC Group 32 Anniversary Celebration, Serie A, 31st SEA Games, and AFF Suzuki Cup.  GTV: Esports Star Indonesia, The Next Syahrini, Indonesian Esports Awards 2021, Indonesia Kids' Choice Awards, Amazing 19, and MNC Group 32 Anniversary Celebration.  MNCTV: KDI 2021, Fantastic Duo Indonesia, Mom and Kids Award, Dangdut Indonesia 2021, Kilau Raya MNCTV 30, MNC Group 32 Anniversary Celebration, and AFC Cup.

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Major Upcoming Programs

E-Sports Production Update The Company has reached an agreement with leading Singaporean online game developer and publisher Garena to produce the 4th season of Free Fire Master League that will be broadcasted on our various networks via MNCN FTA TV, GTV and RCTI+. The highly anticipated event will start to air on the 21st of August 2021. All of the production will be held at the Company’s studio complex and the final, which takes place on the 24th of October will be broadcasted out of RCTI+ studio. In addition, the deal with Garena also includes blocking time for its Free Fire Anniversary event.

Following Free Fire Master League Season 4, the long awaited launch of our own Rapid Fire game in September and the extended arrangement with mobile games developer Moonton to organize another season of their talent search program called E-Sports Star Indonesia are next on the pipeline of events for the Company.

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MNCN Previous and Upcoming E-Sports Involvement

Social Media Update The Company’s video performance continues to dominate in Indonesia, continuously attaining the largest number of subscribers and views on the YouTube video platform. As of June, MNCN’s YouTube channels has garnered over 139 million subscribers and 44.1 billion views. Moreover, MNCN’s multi-channel network (MCN) unit also recorded positive and outstanding results so far in the year, which gained 70.3 million subscribers and 8.1 billion views. With the addition of various renowned content creators to its MCN talent pool for the year, moving forward the Company is optimistic in achieving significant contribution from the MCN operations to its digital revenue. In 2021, MNCN began the monetization of our social media channels through Facebook (established in July 2020) and TikTok (established in September 2020), both platforms having huge bases of followers, wherein it reached 53 million and 74 million, respectively.

MNCN Aggregate Social Media Database

Source : MNC Internal Research

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Online Portal Update The Company owns and operates 6 online portals under its management that focuses on different audience segments as follows: news content specialization in okezone.com (general and news), sindonews.com (in-depth news), .id (national and regional news), celebrities.id (entertainment), sportstars.id (sports), and idxchannel.com (capital market, finance, business, and economy). Collectively, traffic of the online portals has amassed more than 75 million monthly active users (MAUs) as of Q1-2021. The Q2-2021 performance has taken a dip to 57 million (MAUs) in July, primarily caused by the lack of any significant news this quarter. The Company is also continuously upgrading its third party digital benchmarking solutions to ensure the most accurate market benchmarks are used to drive future reporting and performance.

In H2-2021, the online portal businesses will continue to improve its content quality, speed of delivery, exclusivity, and at the same time offering variety through proper synergy and integration of the portals under one management.

Another positive development under the portal group, MNCN has completed the establishment of an Artificial Intelligence development center in New Delhi, India to support its digital based product innovation, particularly to support the development of RCTI+ and crystalized its plans to build an AI based personalized news platform, which is expected to be a game changer in the online portal industry.

RCTI+ Update RCTI+ rapid growth in 2021 was contributed by its 5 major content category, namely Video, Audio, News, UGC Competition, and Games. The super-app, as of today, has more than 39 million monthly active users (MAU), which is 1 million away from the Company’s target that was set at the end of 2020. Furthermore, in line with the strong performance of the Company’s TV programs, traction on its video content this year has been outstanding and these TV content are exclusively available on the platform. MNCN has seen its digital revenue to rose by 117% YoY in H1-2021 to Rp889 billion, this was mainly driven by the performance of RCTI+.

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Source: Google Analytics

Top Content of RCTI+ (Q2-2021)

Comments from Hary Tanoesoedibjo, Executive Chairman of MNC Group: “I am extremely delighted by the performance of the Company so far in the year. MNCN’s strong performance in this quarter keeps us on track to outperform our full year expectations and our strong free cash flow position has enabled us to continue our deleveraging plan ahead of schedule. The Company is on track for an outstanding year and the ongoing optimization and innovation of our digital businesses, enlargement of our gaming establishments, and continued robust performance of our FTA TV, the progress we have made rightfully positions MNCN to continue delivering sustainable growth and long term investor value for many years to come.”

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Table 1. Summary of Key Financial Performance H1-2021

Income Statements Actual Variance Actual Variance In IDR mio 1H-2021 1H-2020 YoY Q2-2021 Q2-2020 YoY Revenues 4.863.091 3.966.928 23% 2.722.750 1.951.134 40% Advertisement 4.595.116 3.615.774 27% 2.655.217 1.803.433 47% Digital 889.187 409.080 117% 568.168 209.828 171% Non-digital 3.705.929 3.206.694 16% 2.087.049 1.593.605 31% Content 727.038 807.924 -10% 349.828 336.479 4% Others 46.095 59.391 -22% 23.984 33.901 -29% (Elimination) (505.158) (516.161) -2% (306.279) (222.679) 38%

Direct Cost *) 1.867.581 1.381.244 35% 1.126.996 670.001 68% Depreciation and amortization 148.274 107.172 38% 73.350 49.350 49%

Gross profit 2.847.236 2.478.512 15% 1.522.404 1.231.783 24% Gross profit margin 59% 62% 56% 63%

General & Administrative expense *) 887.038 798.307 11% 440.610 388.517 13% Depreciation and amortization 151.838 146.239 4% 78.797 87.980 -10%

EBITDA 2.108.472 1.787.377 18% 1.155.144 892.616 29% EBITDA Margin 43% 45% 42% 46%

Net Income 1.264.640 1.007.637 26% 843.185 674.891 25% Net income margin 26% 25% 31% 35%

Gain (loss) on Foreign Exchange (49.978) (35.765) 97.348 208.663 Net Income exclude Forex Gain 1.314.618 1.043.402 26% 745.837 466.228 60% Net income margin exclude forex 27% 26% 27% 24%

For more information, please contact:

Investor Relations: PT Media Nusantara Citra Tbk. Luthan Fadel Putra MNC Tower, 29th floor [email protected] Jl. Kebon Sirih Kav 17 - 19 10340 Samuel Christhopher Hartono Phone: 62-21 3913338 [email protected] Fax : 62-21 3910454

Stefanie Laurensia Prasetyo [email protected]

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