0 89 79

245 175 22 PT Kawasan Industri Jababeka Tbk. 132 115 82 Investor Presentation September 2019 200 218 78

86 134 182

205 102 95

133 111 160

0 0 89 Leading township developer & infrastructure powerhouse 79 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... 245 KIJA overview Business segments 175 22 FY18 Revenue Breakdown (%) PT Kawasan Industri Jababeka Tbk (Rp 2,712 billion) Dry Port, 8% 132 Real Estate Infrastructure Water / Estate, 115 9% 82 Real Estate & Industrial Power Others, 42%

200 Residential Water & Estate 218 78 Commercial Dry Port Power, 41%

 Established in 1989 and became the first publicly listed industrial FY18 Gross Profit Breakdown (%) 86 estate developer in in 1994 (Rp 1,179 billion – 43% GPM) 134  , KIJA's flagship development, is a mature industry- 182 based integrated township in with on-site power plant Dry Port , 6% Water / Estate, and dry port 10%  Diversification projects: Kendal Industrial Park – Park by the Bay in , tourism-based townships in Tanjung Lesung, , 205 and in Morotai, North Maluku 102  Large and strategically located land bank of 3,862 hectares as of 30 95 Power, 21% Real Estate & June 2019 Others, 63% Vision: To Create Modern Self Sustained Cities in Every Province in Indonesia and Provide Jobs for Better Life 133 111 160 …with world class infrastructure to support its development

1 0 89 Milestones & Awards 79 More than 25 years track record in township development Selected awards 245 175 22 #1 #1

Investor Magazine - 2012 Indonesia Property Watch- SWA Magazine - 2016 132 Fortune Indonesia - 2015 Top 10 Best performing 2015 Best Company award Top 25 Most Creative 115 listed companies and Best The best township Companies in Indonesia 82 listed company in property development concept 2016

Groundbreaking 200 Kendal Industrial 218 #1 #1 2014 Park – Park by 78 the Bay D’Khayangan Frontier Consulting Group Award Supply Chain Asia Awards 2014 Ministry of Industry - 2015 2013 Senior Living 2014 #1 Corporate Image Asia Logistics Centre/Park of the Best Industrial Estate – Launched Industrial Estate Year Infrastructure & Facilities 86 2011 Power Plant 134 commenced Acquisition 182 2010 operations of 1,500 ha Cikarang Dry land in 2003 Port begins Tanjung operations Lesung, 2001 Commenced 205 Banten 1996 development of 102 Inauguration of 1994 Jababeka CBD Education Park, 95 1989 Acquisition of including President IPO on Menara Batavia University and in Jakarta CBD established and 133 started Stock 111 development of Exchange 160 the industrial estate 2 0 89 Sizeable land bank in strategic locations with upside potential 79

Kota Jababeka Cikarang Fully integrated and matured city development 35km east of Jakarta, 45mins from Jakarta’s CBD 245  Master plan: 5,600 hectares  175  35km east of Jakarta Most established industrial area in Greater Jakarta, home 22  Land Bank: 1,232ha(1)  to >2,000 local and multinational companies INDONESIA 132 115 Tanjung 82 Lesung Kota Jababeka Kendal, Cikarang Central Java 200 Semarang 218 78 Karawang Surabaya

86 134 182 Tanjung Lesung  Master plan: 1,500 hectares  170km southwest of Jakarta 205  Land Bank: 1,534ha(1) 102 Kendal, Central Java Special Economic Zone for 95  Master plan: 2,700 hectares  Industrial Estate Designated as a Special Economic Zone for Tourism   450km east of Jakarta Development Located 170km southwest of Jakarta and covers more than  Land Bank: 575ha(1) Strategically located along  1,500 ha of land on a peninsula facing the Indian Ocean  the Jakarta-Semarang- 133 Envisaged to become a first-class integrated resort Offers a deep pool of young Surabaya Economic 111  destination for both domestic and international tourists  and skilled labour at a Corridor 160 competitive cost Note: 1 Land bank as at 30 June 2019 3 0 89 1 Kota Jababeka — Flagship industry-based integrated township 79 Kota Jababeka is a mature industry-based township strategically located in close proximity to Jakarta CBD, sea port and airport… 245 175 22 • 35 KM from Jakarta City • Close to International Airport & Seaport JORR 2 Toll Road Cibitung – Tanjung • Accessible by toll road and railway 132 Priok Seaport • 115 ±1.5 Connectivity with 3 Toll Access / Exit 82 hours • Development of Major Transportation KOTA Infrastructure JAKARTA JABABEKA 200 218 78 Cikarang Train Station

Lemah Abang 86 6 lane Highway of Jakarta Inner Ring Road Train Station 134 Proposed 182 MRT Station

205 KM 29 102 LRT MRT High speed train 95 KM 31 Tranportation infrastructure (Proposed / Under Construction) KM 34 LRT Track High Speed Train 133 Elevated Toll Road 111 MRT Track 160 Double-double track Railway Commuter train Elevated toll road JORR 2 Jakarta 2nd Outer Ring (JORR) Road

4 0 89 1 Kota Jababeka – Anchored by a blue-chip customer base 79 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 245 175 22 Diverse mix of occupants across sectors (breakdown by number of occupants) – As of 30 June 2019 Portfolio of high quality customers

132 115 82 11% Electronics Machinery 7% Customer Goods 200 Chemicals 6% 218 46% Automotive 78 Plastics 6% Foods Building 86 6% 134 Metal Fabrication 182 5% Tekstile 4% Others 2% 4% 4%

205 102 95

133 111 Kota Jababeka is home to over 2,000 local and multinational customers from over 20 countries 160

5 0 89 1 Jababeka Residence – A City for Your World 79 Residential & Commercial Developments

245 175 22

132 115 Oscar Townhouse Sudirman Boulevard 82 Cluster Commercial Center

Mixed-Use Developments 200 218 KM 29 78

KM 31 86 134 182 Hollywood Junction, Monroe & Elvis Tower KM 34

Facilities 205 102 95

133 111 International Senior Living 160 Hospitals President Jababeka Golf & Jababeka Jababeka Stadium Hotels University & Country Club D’Khayangan Convention Center 6 Reputable Schools 0 89 1 Kota Jababeka – Enhancing value through Joint Venture projects 79 “Kawana Golf Residence” 245  Kawana Golf Residence is a JV 175 between Jababeka (60%) and Creed 22 Group (40%) from Japan  High-end golf view apartment tower 132 with 234 units 115  Total 100% sold in 2 phases – delivery 82 scheduled for late 2020  Kawana 2 planned to be launched later in 2019 or 2020 200 218 78 “Riverview Residence”  Joint Venture between Jababeka (51%) 86 and PT PP Property (Persero) Tbk (49%) 134 182  4 apartment towers strategically located near the toll exit & catering to the lower end of the market  Tower 1 (1009) – Mahakam Tower 205 –> 90% sold, 20% handed over 102 95  Tower 2 (939) – Bengawan Tower –> 23% sold, piling completed

133 Other JVs within the KIJA group include: 1) “Little Tokyo” – a JV between PT PP Property (Persero) Tbk (52.6%) and Jababeka (47.6%) for a mixed use superblock 111 on a 4.6-hectare site with 6 apartment towers and a Japanese style mall; 2) “Mayfair Estate & Park Land” – a JV between PT Plaza Indonesia Realty Tbk (70%) and 160 Jababeka (30%) for a mixed use superblock on a 12-hectar site right next to the golf course; 3) “Paradiso” – a JV between Jababeka (52% - subject to finalization

of acquisition of 3% stake from Nice Corporation) and Keihan Real Estate (48%) from Japan to develop a 2.7 hectare high-end golf villa residential project. 7

0 89 2 Enhancing Kota Jababeka's value proposition: Jababeka Infrastruktur 79

PT Jababeka Infrastruktur provides top notch to infrastructure and services, including clean water provision, waste water 245 treatment, estate management, and other services such in-house fire brigade, 24 hour security, fiber optics, natural gas 175 and others… 22 WWTP 2 WTP 1 WTP 2 WWTP 1 Capacity Capacity 125 L/sec 132 400 L/sec Capacity Capacity 115 200 L/sec 208 L/sec 82 Waste Water

200 Treatment Plan 218 78

86 134 182 Water Treatment Plan

205 102 95 Telco Natural Gas

133 111 …which meet the international standards and operate in accordance with environmentally 160 friendly policies in integrated city Kota Jababeka in Cikarang

8 0 89 2 Enhancing Kota Jababeka's value proposition: Plant 79 KIJA is the only industrial estate developer in Indonesia with its own power plant located within its estate Integrated Power Generation & Distribution Process 245 175 22 1 100% output to PLN

 130MW gas fired combined cycle plant 132  20 year 100% off-take agreement from 115 2 Buy back from PLN PLN 82 (+16% margin) Perusahaan Listrik Negara (“PLN”) – Rate per KWH: ~US$11 cents 3 Direct sale to factories – Average gas cost / MMBTU: ~US$8.7 (+ margin) 200 – Fuel costs borne by PLN on a pass-through 218 basis Factories 78 – Fully contracted gas supply Financial Highlights – Flexibility to buy back power and resell it at a IDR billion premium 86 1,600 1,499 30.0%  During repair of a leakage in one of the boilers 134 1,360 1,400 1,267 1,310 26.1% 182 25.0% the power plant operated at about 50% of the 1,200 1,102 usual capacity for about 3 months in 2016 22.5% 20.0% 1,000  The power plant was in full “reserve shutdown” 800 14.3% 17.1% 15.0% for most of 1Q18 and 2Q19 and has operated 205 12.5% 600 12.2% intermittently in other quarters of 2018 and 102 386 10.0% 400 215 232 248 2019. 95 155 164 5.0% 200 101 - 0.0% 2014 2015 2016 2017 2018 1H19 133 Revenue Gross Profit Gross Profit Margin 111 160 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 9 0 89 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port 79 Strategic location in the heart of the largest manufacturing zone along the Bekasi-Cikampek industrial corridor…

245 175 22

132 115 82 Airport

200 218 78 JABABEKA MM 2100 1 86 62% 134 EJIP LIPPO 182 HYUNDAI GIIC SURYA CIPTA Enhanced Accessibility with New Toll Gate KM 29 KIIC KIKC New Toll Gate KM CFLD Cikarang Utama KIM 29 KBI 205 Toll Gate 102 Highway Exit KM 29 95

International Port Code: IDJBK 133 Surrounded by 12+ Industrial Estates and 111 more than 3,000 manufacturing companiee 160 Flyover to Jakarta Notes: 1 Estimated % of total throughput at Tanjung Priok Port originating from this area 10 0 89 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port 79

245 Bonded 175 Logistics Office: CDP, New Office 3rd Party Gate Customs 22 Center Quarantine, & PLB 2 DC Port Code: (PLB) & Banking IDJBK Physical 132 Inspection 115 82

200 218 78

86 Container Freight Station 134 182 Railway Emplacement Reefer

205 Mobile X- 102 Ray 95 Container Yard

133 111 200 ha of 160 integrated port & logistics facilities 11 0 89 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port 79 Cikarang Dry Port (CDP) is the first and only integrated customs, quarantine and logistics facility in Indonesia… Overview Strong momentum in CDP operations 245  Since 2012, Cikarang Dry Port is an official port of origin and Revenue (IDR billion) 250 175 destination with international port code IDJBK – now 225 22 connected with 25 major shipping lines 200  Integrated port and logistics facilities with multi modal 171 transportation services 151 150 132  Smart Port Solution to streamline the business process 120 115 106 82  Besides export/import, CDP also serves domestic distribution 100 78 via main railway line that runs from to east Java and also combining it with domestics shipping lines services 50 200  Bonded Logistics Centre (FTZ facilities) for Cotton & 218 minerals/metals - 2014 2015 2016 2017 2018 1H19 78 Selected customer & partner profile at Cikarang Dry Port Shipping Lines: Throughput (TEU) 120,000 86 95,314 134 Third Party Logistics Provider (3PL): 100,000 182 80,000 73,946 65,250 Shippers / Consignees: 60,000 50,844 37,507 39,558 205 40,000 102 95 20,000

- 2014 2015 2016 2017 2018 1H19 133 111 160 …allowing customers to more efficiently manage their imports and exports and benefit from cost savings

12 0 89 3 Diversified land bank 79 A geographically diversified land bank allows KIJA to capture different market segments and enhances earnings resilience… Diversified by geography, positioning and segment 245 175 Land Bank Kota Jababeka Kendal Industrial Park – Tanjung Lesung 22 Park by the Bay Total(1): 3,362ha

132 115 82 1,232ha 575ha 1,534ha

PositioningPositioning Established MNCs and domestic More cost-conscious customers Tourism, leisure and hospitality 200 companies willing to pay a premium looking for an alternative to Greater focused integrated township to tap 218 for strategic location and mature Jakarta industrial estates that still into entertainment/leisure spending 78 township with top notch provides top notch infrastructure by rising middle class in Indonesia infrastructure in place

86 134 Well diversified across multiple segments (Breakdown of segments by 1H19 revenue contribution) 182 Real Estate(2): 30% Recurring(3): 70%

205 12% 1% 3% 7% 1% 4% 3% 44% 14% 12% 102 95 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Developed Land Factory Buildings Commercial Residential Tourism Golf Others Power Plant Water & Estate Services Dry Port

133 111 …in addition to benefiting from future infrastructure developments across its land bank locations 160 Notes: 1 As per 30 June 2019and excluding Morotai with 521 hectares 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 13 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79 “Kendal Industrial Park – Park by the Bay” 245 175  Joint Venture between Jababeka (51%) and 22 Sembcorp (49%) from Singapore  Benefits from Sembcorp’s expertise in developing and marketing industrial estates 132 across Asia (China, Vietnam, Indonesia and Kendal Port Tanjung Emas 115 Jababeka’s long track record and experience in Seaport 82 industrial estate development and infrastructure operations  Total planned area of 2,700ha; phase 1: 860ha 200 Ahmad Yani Semarang 218  Excellent connectivity to major infrastructure Int'l Airport 78 and amenities

86 134 182

205 Distance to Kendal Industrial Park – Park by the Bay 102 Tanjung Emas International Seaport 25 km 95 Ahmad Yani International Airport 20 km Semarang (Central Java capital) 21 km

133 111 Official opening ceremony on November 14th 2016 by the President of 160 Indonesia, Mr Joko Widodo, and the Prime Minister of Singapore, Mr Lee Hsien Loong 14 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79 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 245 175  Macro infrastructure planning that supports growth of Kendal Industrial Park – improved connectivity and 22 accessibility (for example newly opened Trans Java toll road and new Ahmad Yani Airport  Competitive manpower / low labour costs in Central Java makes Kendal Industrial Park – Park by the Bay Key Highlights particularly interesting for labor intensive industries 132  Numerous human resources education & training facilities 115 82  Top notch infrastructure & One-stop solution for licensing, manpower recruitment, on-site logistics, security and estate management services

200 Tenant breakdown (58 confirmed tenants) 218 78 3% 2% 3% 2% 2% 5% 1% 5% 86 20% 134 6% 182 Fashion Industry 25% 8% 16% China

205 Food & 65% 102 10% Beverage 95 Indonesia 13% 14% Electronic Packaging 133 111 160

15 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79

245 175 22

132 115 82

200 218 78

86 134 182

205 102 95

133 111 160

16 0 89 4 Diversified projects: Tanjung Lesung 79

Tanjung Lesung overview Malaysia 245 175 Singapore Location ~ 180 km southwest of Jakarta in Banten 22 Indonesia Tanjung Lesung Tourism-based integrated township (hotels, Concept 132 apartments, sailing, diving & beach clubs) 115 82 Currently accessible by toll road from Jakarta in Australia Access ~ 3.5 hours 200 218 78 SOEKARNO – HATTA Merak International Airport

86 Krakatau Anyer Serang 134 Mountain Jakarta 182 Pandeglang Jakarta-Merak Tanjung Lesung Toll Road Labuan 205 Future 102 Toll road Panaitan 95 Island Panimbang

President Joko Widodo speaking on Ujung Kulon National Park Tanjung Lesung’s designation as Special 133 Economic Zone for Tourism 111 160

17 0 89 4 Diversified projects: Tanjung Lesung 79 Strong government support for Tanjung Lesung's development as a tourism zone...

245 Facilities and infrastructure at Tanjung Lesung 175 22  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 132 breakfast and several cottages 115 82  Other facilities: restaurant and bar, golf course, a swimming pool, a spa, a beach club, a sailing Golf course club, private air strip, school, mosque, residential housing units, and a medical clinic

200 218 Strong government support for development of Tanjung Lesung 78  One of 10 New Tourism Destinations in Indonesia that the Indonesian Government is promoting 86 134  New toll road from Serang Timur to Panimbang: A consortium led by PT Wijaya Karya Tbk 182 (Persero) won the tender for this project, land acquisition is ongoing and construction has Aerial view commenced

205 102 95

 Tanjung Lesung has been designated as Special Economic Zone for Tourism 133 Villa with private pool at Tanjung Lesung 111 160 …is expected to increase interest from potential investors/partners for the project

18 0 89 4 Diversified projects: Tanjung Lesung 79

245 175 Current property products 22

132 115 82

200 218 KALICAA 78 VILLA

86 134 182

205 102 95

133 111 160

19 0 89 4 Diversified projects: Morotai 79 Future tourism and logistics hub strategically located in the heart of Pacific Asia with natural tropical beauty and World War 2 historic sites and relics 245 175 22  3 hours flight from Singapore and Taipei  Great potential for tourism, agricultural and 132 fishing industries, and as a logistics hub 115 82 Morotai is a Special Economic Zone for  tourism and 1 of 10 new tourism destinations promoted by the government 200 218 78

86 134 182

Evening view at Morotai

205 102 95

133 111 160 Beach view at Morotai

20 0 89 5 Clear strategic focus 79 KIJA's existing pipeline provides visible opportunities over different time frames

245 175 22

 Continue to develop and capitalize on  Development of Tanjung Lesung Kota Jababeka Township 132 tourism-based township 115 82 Short Term Medium Term  Further development of Kendal  Development of Morotai, initially as a Industrial Park in partnership with tourism-based township 200 Sembcorp in Central Java 218 78

86 134 Long Term Vision 182

205 102  Replicate Kota Jababeka's industry-based integrated township model throughout Indonesia 95  Build out an infrastructure facility portfolio (power, water, ports, etc.) to support these new townships

133 111 160

21 0 89 6 Financial Highlights 79

Revenue breakdown (IDR billion) Gross profit (IDR billion) and Gross profit margin (%) 3,500 1,600 60% 245 3,140 2,931 2,995 175 3,000 2,799 1,400 55% 2,712 1,389 22 1,200 50% 2,500 1,272 1,252 1,243 1,221 1,208 1,137 1,179 1,207 1,142 1,000 45% 44% 45% 2,000 43% 42% 42% 132 800 40% 1,500 38% 115 600 35% 82 1,000 886 1,868 1,774 400 30% 1,592 1,723 1,570 268 368 500 200 25% 617 200 - 0 20% 218 2014 2015 2016 2017 2018 1H19 2014 2015 2016 2017 2018 1H19 78 Recurring revenue Real estate & other revenue Gross profit Gross profit margin EBITDA (IDR billion) and EBITDA margin (%) Net income (IDR billion) 1,400 60% 450 86 400 427(2) 1,200 55% (1) 134 399 350 182 1,130 1,167 50% 1,000 (1) 1,025 300 331 943 45% 800 914 250 40% 40% 600 37% 200 205 35% 35% 35% 102 150 400 31% 31% 150(2) 95 30% 100 200 274 25% 50 67 (1) 49( 2 ) 0 20% 0 133 2014 2015 2016 2017 2018 1H19 2014 2015 2016 2017 2018 1H19 111 EBITDA EBITDA margin 160 Notes: 1 Approximate unrealized foreign exchange loss (non cash) for FY14: IDR 65 billion, FY15: IDR 156 billion, FY18: IDR 248 billion 2 Approximate unrealized foreign exchange gain (non cash) for FY16: IDR 135 billion, FY17: IDR 59 billion, 1H19: IDR 104 billion – and in FY17 additional 1-off expenses of Rp 175bn as a result of redemption of 2019 senior notes 22 0 89 6 Balance Sheet Highlights 79

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

245 14,000 7,000 1.00 6,104 11,953 5,900 6,053 0.95 175 12,000 11,226 11,784 6,000 5,638 10,734 22 4,978 0.90 10,000 9,741 5,000 4,662 4,359 4,275 0.85 8,505 4,041 0.80 8,000 4,000 3,510 3,565 132 0.75 2,705 0.72 115 6,000 3,000 0.71 0.70 0.68 0.70 82 0.65 4,000 2,000 0.63 0.60 2,000 1,000 0.58 0.55 200 0 595 827 792 895 884 923 0 0.50 218 2014 2015 2016 2017 2018 1H19 2014 2015 2016 2017 2018 1H19 78 Cash and cash equivalents Total assets Total debt Total equity Debt/Equity EBITDA/Interest expense (x)(1) Net debt/EBITDA (x) 86 4.5 4.0 134 4.0 3.5 182 3.7 3.4 3.5 3.5 3.8 3.0 3.0 3.4 3.1 2.5 2.7 2.5 2.7 205 2.6 2.0 2.3 102 2.0 2.3 1.5 1.9 95 1.5 1.0 1.0 0.5 0.5 133 111 0.0 0.0 (2) (2) 160 2014 2015 2016 2017 2018 1H19 2014 2015 2016 2017 2018 1H19 Notes: 1 Includes capitalized interest + Hedging Fees 2 LTM 23 0 89 6 1H19 Financial Highlights Press Release 79

PT Jababeka Tbk (“KIJA”) recorded a total revenue of Rp 885.6 billion for the first half of 2019, a decrease of 5% compared to the same period of 245 2018. The Company’s Land Development & Property pillar saw revenue stay flat at Rp 227.3 billion as per 1H19, with increases in revenue 175 contributions from developed land, apartments and rental properties were off-set with decreases in sales of land and standard factory buildings, 22 land and houses, and land and shop houses. Similar to the second quarter of 2018, the second quarter of 2019 was also affected by the Islamic fasting month and Eid celebrations. In addition, the second quarter of 2019 was also affected by the presidential elections in Indonesia.

132 The Infrastructure Pillar revenue decreased 5% to become Rp 617.4 billion, which was mainly caused by a 10% reduction in revenue derived from 115 the power segment, which was subject to more days in Reserve Shutdown in 1H19 compared to 1H18. Revenue from Infrastructure Services and 82 Dry Port increased a combined 6% year-on-year.

KIJA’s Leisure & Hospitality pillar posted a 24% decrease in revenue to become Rp 40.9 billion in the first half of 2019. This decrease was mainly caused by a reduction in contribution from Tanjung Lesung, which saw tourist numbers reduce drastically following the devastating tsunami that 200 hit Java’s west coast in late 2018. 218 78 Recurring revenue from the Infrastructure pillar contributed 70% to total revenue in the first half of 2019, equal compared to 1H18.

The Company’s gross profit decreased 8% to become Rp 367.7 billion in 1H19, in line with the reduction in revenue. At the same time, KIJA’s 86 consolidated gross profit margin for the first half of 2019 was recorded at 42%, slightly less compared to 43% in 2018. 134 182 KIJA recorded a net profit of Rp 49.3 billion in the first half of 2019 compared to a net loss of Rp 249.8 billion for the same period in 2018. The main reason for this turnaround is because of the impact of foreign exchange (forex) gains and losses as the Company recorded a forex gain of Rp 90.0 billion compared to a forex loss of Rp 235.4 billion in 1H18. These amounts are the sum of forex gains/losses and mark to market gains/losses on our hedging contracts, which can be found in the other income/expense section of our 1H19 financial report. 205 102 The Company’s EBITDA in 1H19 reached Rp 264.7 billion compared to Rp 277 billion in 1H18. 95

KIJA recorded Rp 758.9 billion in real estate marketing sales in the first half of 2019, equivalent to 47% of the FY19 target of Rp 1.6 trillion and an increase of 27% compared to the first half of 2018. 133 111 160 Please contact us at [email protected] if you want to be included in the Company’s distribution list 24 0 89 6 1H19 Marketing Sales Realization 79

245 Total Q1 Q2 175 Description 22 Unit M2 Amount (Rp) Unit M2 Amount (Rp) Unit M2 Amount (Rp)

Land Plots - Cikarang 5 42,092 102,136,567 4 20,367 50,811,450 1 21,725 51,325,117 132 115 Land Plots - Kendal 3 237,573 300,252,976 1 30,800 39,208,000 2 206,773 261,044,976 82 Standard Factory Buildings 12 6,057 43,198,804 3 1,471 8,627,290 9 4,586 34,571,514

200 Landed Houses 119 10,078 84,349,649 87 7,255 57,914,761 32 2,823 26,434,888 218 78 Commercial / Shop Houses 31 6,001 84,572,621 19 3,174 43,828,423 12 2,827 40,744,198

Apartments 83 - 41,639,151 36 - 19,640,858 47 - 21,998,293 86 134 Tanjung Lesung, Rental & 182 Other 4 - 102,790,900 3 - 1,397,700 1 - 101,393,200

Total 257 301,801 758,940,667 153 63,067 221,428,482 104 238,734 537,512,185 205 102 95 KIJA recorded Rp 758.9 billion in real estate marketing sales in the first half of 2019, equivalent to 47% of the FY19 target of Rp 1.6 trillion and an increase of 27% compared to the first half of 2018.

133 As per the end of August 2019 KIJA recorded just over Rp 1 trillion in real estate marketing sales, equivalent to 63% of the 111 FY19 target of Rp 1.6 trillion. 160

25 0 89 6 Debt Overview 79

Debt Maturity Profile (Million USD) $300.0 Fixed vs Floating Interest Rate 245 30 2% 175 22 25 Floating

20 Fixed 98% 132 15 115 82 IDR vs USD Debt 10 2% $6.5 $3.4 $3.7 5 $1.95 IDR 200 $1.0 $0.31 $0.30 $0.60 218 0 USD 78 2H19 2020 2021 2022 2023 98%

Bank Tabungan Negara Bank Central Asia Standard Chartered Bank Negara Indonesia Global Notes

86 134 Total Debt as of 1H19  IDR 4.2775 billion equivalent – average cost of debt 6.58% p.a. 182  Bank Tabungan Negara IDR 102.3bn as per 1H19 10.5% p.a. Construction Loan (JV w PT PP – Riverview)  Bank Central Asia USD 2.85mn as per 1H19 5.25% p.a. Project loan (warehouse in logistics park) Bank Loans  Standard Chartered Bank USD 6.5mn as per 1H19 3M LIBOR + 3.75% p.a. Working Capital at Bekasi Power (rolling) 205  Bank Negara Indonesia IDR 4.4bn as per 1H19 11.75% p.a. Construction Loan (JV with Creed – Kawana) 102 95 Global Notes  US$ 300 million Guaranteed Senior Notes Due 2023 (7NC4) 6.5% p.a.

 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 133 Hedging Practice 111  Recurring revenue provides stability and visibility of cash flows , which are partially based on USD pricing terms (power & 160 water) providing a natural hedge for USD-denominated interest expenses

26 0 89 7 Experienced management team 79 Average of more than 25 years of industrial township development experience

245 Board of Commissioners 175 22

132 115 82

200 Setyono Djuandi Darmono Bacelius Ruru Hadi Rahardja Gan Michael 218 President Commissioner Vice President Commissioner Commissioner 78 Commissioner (Founder) Independent Commissioner (Founder)

86 Board of Directors 134 182

205 102 95

133 Budianto Liman Hyanto Wihadhi Sutedja Sidarta Darmono Tjahjadi Rahardja Setiawan Mardjuki Basuri Tjahaja Purnama 111 160 President Director Director Director Director Director Director

27 0 89 8 KIJA NAV – As per 30 June 2019 79

Land bank Size (ha) ASP (Rp million) NAV (Rp bn) Cikarang Inventory 165 4.00 6,590 245 Land for Development* 1,067 0.55 5,867 175 22 Kendal Inventory 0.6 1.50 9 Land for Development* 574 0.35 2,010 Tanjung Lesung Inventory 23 1.00 233 Land for Development* 1,511 0.25 3,777 132 Morotai Inventory 475 0.20 951 115 82 Land for Development 46 0.02 9

Subtotal land bank 19,446

200 Infrastructure & Others (DCF) 2,717 218 78 Add (cash, advances, investments in associates, deposits, etc) 2,337 Deduct (loans, customer advances, etc) (5,204)

86 Total NAV 19,296 134 Number of shares (billion): 20.82 182 NAV per share 927

Share Price 308 205 Discount to NAV 67% 102 95 * Replacement value

Disclaimer:

The purpose of this section is to provide shareholders, bondholders, analysts, brokers/dealers, potential investors and other capital market participants with a general 133 overview of the Company’s internal net asset value (NAV) calculation. The information is provided for quick reference only. 111 The information provided is not an offer to sell securities or the solicitation of an offer to buy securities. The information has been compiled from sources believed to be 160 reliable. The information contained in this section is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the Company. The Company makes no representation regarding, or assumes any responsibility or liability for, the accuracy or completeness of, or any errors 28 in or omissions from, any information contained herein. 0 89 79

245 175 22 Thank You 132 115 www.jababeka.com 82

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