PT Kawasan Industri Jababeka Tbk. Investor Presentation February 2021 (with 9M20 Financial Report & FY21 Guidance)

0 Disclaimer

This presentation material has been prepared by PT Kawasan Industri Jababeka Tbk (the “Company”) and may contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions.

These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice.

The information has been compiled from sources believed to be 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 in or omissions from, any information contained herein.

1 Outlook & Guidance for 2021

Marketing Sales & Other Highlights Cash Flow Overview for 2021:  2020 Real Estate Marketing Sales Achievement  Cash inflow: • Rp1,450bn • Rp898.7bn realized in 2020, about 54% compared to - 50% Backlog (3/4 /others – 1/4 Kendal) 2019 mainly due to the Covid-19 pandemic - 50% New Sales (2/3 Cikarang/others – 1/3 Kendal) • On a positive note, the performance in 2H20 was more • Rp400bn Recurring EBITDA from power, water, port and than 2.5x 1H20 on the back of an industrial pick-up in other recurring businesses Kendal and Cikarang, and a successful launch of a landed residential project in Cikarang • Total: Rp1,850 billion  2021 Real Estate Marketing Sales Target  Cash outflow • Rp250bn Construction & Land Development in Cikarang • Rp1,400bn: • Rp400bn Infrastructure & Land Development in Kendal - Rp1,000bn Cikarang & Others: 50/50 split • Rp100bn Maintenance Capex between Industrial vs Residential/Commercial • Rp150bn Land Acquisition (discretionary) - Rp400bn Kendal: all industrial • Rp400bn Interest • Positive momentum of 2H20 carried on into early 2021 • Rp450bn SG&A (excl. infra) • Solid pipeline for industrial in both Cikarang and Kendal • Rp150bn Tax • Launch plan of 3-4 residential & commercial products • Total: Rp1,900 billion  Infrastructure – resilient in terms of margin, cash flow  Cash balance of Rp1.15trillion as at 31 December 2020 despite pressure on volume in 2020 (yoy reductions of 15% (compared to about Rp1trillion at the end of 2019). for water, 9% for power end-users, 24% for TEU port volume – offset by PLN capacity payments and other  Total debt expected to stay flat for the year as principal infrastructure services in 2020  2021 expected to be in repayments of loans at subsidiary / JV levels are mostly offset line with 2020 by drawdown of maximum Rp100bn (likely less in 2021) of a new loan (provided by OCBC) at Kendal for infrastructure  Leisure & Hospitality – not very material with overall small development (cost of ~10% per annum) contributions to earnings & cash flow

2 Joining the Fight against Covid-19

 Together with President University, Jababeka Group initiated a crowd-funding exercise, which has raised nearly Rp 7 billion (and counting) for medical equipment required to combat Covid-19

 Collaboration with tenants Croda , Evonik Indonesia and Danone Indonesia for the production and packaging of hand sanitizers and disinfectant fluids – totally producing 15 tons so far

 Together with several tenants produced 50,000 fabric face masks for the Covid-19 task force in

 Together with President University and numerous tenants provided Rp 7.2 billion in to the to combat and prevent the spread of Covid-19

 Distribution of free face masks in and around

 Providing social aid to 13 villages in and around Kota Jababeka

 Implemented work-from-home across the entire organization to the extent possible

 Preventive spraying of disinfectants at all office premises, providing hand sanitizer for all staff, checking body temperatures, etc.

3 Leading township developer & infrastructure powerhouse

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... KIJA overview Business segments FY19 Revenue Breakdown (%) PT Kawasan Industri Jababeka Tbk (Rp 2,254 billion) Dry Port; 9% Water / Estate; Real Estate Infrastructure 11%

Real Estate & Industrial Power Others; 43%

Residential Water & Estate

Commercial Dry Port Power; 37%

 Established in 1989 and became the first publicly listed industrial FY19 Gross Profit Breakdown (%) estate developer in Indonesia in 1994 (Rp 843 billion – 37% GPM)  Kota Jababeka, KIJA's flagship development, is a mature industry- based integrated township in Cikarang with on-site power plant Dry Port ; 6% and dry port  Kendal Industrial Park – Park by the Bay in Central , tourism- Water / Estate; based townships in Tanjung Lesung, , and in Morotai, North 15% Maluku - all three enjoy Special Economic Zone status  Large and strategically located land bank of 5,087 hectares as 30 September 2020 Real Estate & Others; 62% Vision: To Create Modern Self Sustained Cities in Every Power; 16% Province in Indonesia and Provide Jobs for Better Life

…with world class infrastructure to support its development

4 Milestones & Awards

More than 30 years track record in township development Selected awards

6th Property Golden Property Indonesia Awards Award 2019 2018 The Best Township The Recommended 2016 Development Project – Condominium Groundbreaking Kota Jababeka Development in Cikarang - Kawana Kendal Industrial Cikarang 2014 Golf Residence Park – Park by the Bay D’Khayangan 2013 Senior Living Golden Property Launched Award 2019 Bekasi 2011 Lifetime Achievement Power Plant commenced Award to Mr.Setyono Acquisition 2010 operations Djuandi Darmono of 1,500 ha land in 2003 Cikarang Dry Port begins Tanjung 2001 operations Lesung, Commenced Banten 1996 development of Inauguration of Property Guru - 2020 1994 Jababeka CBD Education Park, Best Developer & 1989 Acquisition of including President Industrial Estate IPO on Menara Batavia University Jababeka Group and in Jakarta CBD established and started Stock development of Exchange the industrial estate 5 Sizeable land bank in strategic locations with upside potential

Kota Jababeka Cikarang Fully integrated and matured city development 35km east of Jakarta, 45mins from Jakarta’s CBD  Master plan: 5,600 hectares   35km east of Jakarta Most established industrial area in Greater Jakarta, home  Land Bank: 1,245a(1)  to >2,000 local and multinational companies INDONESIA

Tanjung Lesung Kota Jababeka Kendal, Cikarang Semarang

Karawang Surabaya

Tanjung Lesung  Master plan: 1,500 hectares  170km southwest of Jakarta  Land Bank: 1,496ha(1) Kendal, Central Java Special Economic Zone for  Master plan: 2,700 hectares  Industrial Estate Designated as a Special Economic Zone for Tourism   450km east of Jakarta Located 170km southwest of Jakarta and covers more than  Land Bank: 552ha(1) Strategically located along the  1,500 ha of land on a peninsula facing the Indian Ocean  Jakarta-Semarang-Surabaya Envisaged to become a first-class integrated resort Offers a deep pool of young Economic Corridor  destination for both domestic and international tourists  and skilled labour at a competitive cost Note: 1 Land bank as at 30 September 2020 6 1 Kota Jababeka — Flagship industry-based integrated township

Kota Jababeka is a mature industry-based township strategically located in close proximity to Jakarta CBD, sea port and airport…

• 35 KM from Jakarta City • Close to International Airport & Seaport JORR 2 Toll Road Cibitung – Tanjung • Accessible by toll road and railway Priok Seaport ±1.5 • Connectivity with 3 Toll Access / Exit hours • Development of Major Transportation KOTA Infrastructure JAKARTA JABABEKA

Cikarang Train Station

Lemah Abang 6 lane Highway of Jakarta Inner Ring Road Train Station

Proposed MRT Station

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

7 1 Kota Jababeka – Anchored by a blue-chip customer base

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

Diverse mix of occupants across sectors (breakdown by number of occupants as of 30 September 2020) Portfolio of high quality customers

11% Electronics

07% Machinery Consumer Chemicals 06% Automotive 46% Plastics 06% F&B Building 06% Metals Textile 05% Others 04% 02% 04% 04%

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

8 1 Jababeka Residence – A City for Your World

Residential & Commercial Developments

Oscar Townhouse Sudirman Boulevard Cluster Commercial Center

Mixed-Use Developments KM 29

KM 31

Hollywood Junction, Monroe & Elvis Tower KM 34

Facilities

International Hospitals President Jababeka Golf & Senior Living Jababeka Jababeka Stadium Hotels University & Country Club D’Khayangan Convention Center 9 Reputable Schools 1 Kota Jababeka – Enhancing value through Joint Venture projects

“Kawana Golf Residence”  Kawana Golf Residence is a JV between Jababeka (60%) and Creed Group (40%) from Japan  High-end golf view apartment tower with 234 units  Total 100% sold– delivery scheduled for 2021 – construction progress at 92% as of October 2020  Kawana 2 in the planning stage

“Riverview Residence”  Joint Venture between Jababeka (51%) and PT PP Property (Persero) Tbk (49%)  4 apartment towers strategically located near the toll exit & catering to the lower end of the market  Tower 1 (1009) – Mahakam Tower –> 90% sold, 40% handed over  Tower 2 (939) – Bengawan Tower –> 28% sold, piling completed

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 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 Jababeka (30%) for a mixed use superblock on a 12-hectare site right next to the golf course; 3) “Paradiso” – a JV between Jababeka (52%) and Keihan Real Estate

(48%) from Japan to develop a 2.7 hectare high-end golf villa residential project. 10 2 Enhancing Kota Jababeka's value proposition: Jababeka Infrastruktur

PT Jababeka Infrastruktur provides top notch to infrastructure and services, including clean water provision, waste water treatment, estate management, and other services such in-house fire brigade, 24 hour security, fiber optics, natural gas and others…

WWTP 2 WTP 1 WTP 2 WWTP 1 Capacity Capacity 125 L/sec 400 L/sec Capacity Capacity 200 L/sec 208 L/sec

Waste Water Treatment Plan

Water Treatment Plan

Telco Natural Gas

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

11 2 Enhancing Kota Jababeka's value proposition: Plant

KIJA is the only industrial estate developer in Indonesia with its own power plant located within its estate Integrated Power Generation & Distribution Process

1 100% output to PLN  130MW gas fired combined cycle plant  20 year 100% off-take agreement from Perusahaan Listrik Negara (“PLN”) Buy back from PLN 2 PLN – Rate per KWH: ~US$11 cents (+ margin) – Average gas cost / MMBTU: ~US$8.7 3 Direct sale to factories – Fuel costs borne by PLN on a pass-through (+ margin) basis – Fully contracted gas supply Factories – Flexibility to buy back power and resell to industrial customers at a premium Financial Highlights  During repair of a leakage in one of the boilers IDR billion 1,600 1,499 35% the power plant operated at about 50% of the 1,360 usual capacity for about 3 months in 2016 1,400 1,310 30% 29%  1,200 1,102 The power plant was in full “reserve shutdown” 25% for most of 1Q18 and 2Q19 and has operated 1,000 22% 832 20% intermittently in other quarters of 2018, 2019, 800 17% 16% 14% 15% and 1Q20. In 2Q20 the power plant was almost 600 13% 459 10% in full reserve shutdown, whereas in 3Q20 the 400 232 248 215 164 plant operated more, but still more reserve 200 136 132 5% shutdown than not. - 0% 2015 2016 2017 2018 2019 9M20 Revenue Gross Profit Gross Profit Margin 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 12 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port

Strategic location in the heart of the largest manufacturing zone along the Bekasi-Cikampek industrial corridor…

Airport

JABABEKA MM 2100 62%1 EJIP LIPPO

HYUNDAI GIIC SURYA CIPTA Enhanced Accessibility with New Toll Gate KM 29 KIIC KIKC New Toll Gate KM CFLD Cikarang Utama KIM 29 Toll Gate KBI

Highway Exit KM 29

International Port Code: IDJBK Surrounded by 12+ Industrial Estates and more than 3,000 manufacturing companiee Flyover to Jakarta Notes: 1 Estimated % of total throughput at Tanjung Priok Port originating from this area 13 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port

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

Container Freight Station

Railway Emplacement Reefer

Mobile X-Ray

Container Yard

200 ha of integrated port & logistics facilities 14 2 Enhancing Kota Jababeka's value proposition: Cikarang Dry Port

Cikarang Dry Port (CDP) is the first and only integrated customs, quarantine and logistics facility in Indonesia… Overview Financial & Operational Highlights  Since 2012, Cikarang Dry Port is an official port of origin and Revenue (IDR billion) destination with international port code IDJBK – now 250 connected with 25 major shipping lines 225 202  Integrated port and logistics facilities with multi modal 200 transportation services 171 151  Smart Port Solution to streamline the business process 150 120  Besides export/import, CDP also serves domestic distribution 108 via main railway line that runs from to east Java and 100 also combining it with domestics shipping lines services  Bonded Logistics Centre (FTZ facilities) for Cotton & 50 minerals/metals - Selected customer & partner profile at Cikarang Dry Port 2015 2016 2017 2018 2019 9M20 Shipping Lines: Throughput (TEU) 120,000

Third Party Logistics Provider (3PL): 100,000 95,314 82,161 80,000 73,946 65,250 Shippers / Consignees: 60,000 50,844 44,847 40,000

20,000

- 2015 2016 2017 2018 2019 9M20

…allowing customers to more efficiently manage their imports and exports and benefit from cost savings

15 3 Diversified land bank

A geographically diversified land bank allows KIJA to capture different market segments and enhances earnings resilience… Diversified by geography, positioning and segment

Land Bank Kota Jababeka Kendal Tanjung Lesung Morotai

Total(1): 5,,087ha

1,245ha 552ha 1,496ha 1,794ha

PositioningPositioning Established MNCs and More cost-conscious Tourism, leisure and Future tourism and logistics domestic companies willing to customers looking for an hospitality focused integrated hub strategically located in pay a premium for strategic alternative to Greater Jakarta township to tap into the heart of Pacific Asia with location and mature industrial estates that still entertainment/leisure natural tropical beauty and township with top notch provides top notch spending by rising middle World War 2 historic sites infrastructure in place infrastructure class in Indonesia and relics

Well diversified across multiple segments (Breakdown of segments by 9M20 revenue contribution)

Real Estate(2): 58% Recurring(3): 42%

38% 2% 4% 8% 1%2% 2% 25% 11% 6%

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

…in addition to benefiting from future infrastructure developments across its land bank locations

Notes: 1 As per 30 September 2020 2 Comprises real estate, golf and other non-infrastructure segments 3 Recurring revenue includes contribution from power plant, dry port and service & maintenance fees 16 4 Kendal Industrial Park – Park by the Bay

“Kendal Industrial Park – Park by the Bay”  Joint Venture between Jababeka (51%) and Sembcorp (49%) from Singapore  Special Economic Zone for Industrial Estates  Benefits from Sembcorp’s expertise in developing and marketing industrial estates Kendal Port Tanjung Emas across Asia (China, Vietnam, Indonesia) and Seaport Jababeka’s long track record and experience in industrial estate development and infrastructure operations  Total planned area of 2,700ha; phase 1: 860ha Ahmad Yani Semarang  Excellent connectivity to major infrastructure Int'l Airport and amenities

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

Official opening ceremony on November 14th 2016 by the President of Indonesia, Mr Joko Widodo, and the Prime Minister of Singapore, Mr Lee Hsien Loong 17 4 Kendal Industrial Park – Park by the Bay

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

 Macro infrastructure planning that supports growth of Kendal Industrial Park – improved connectivity and 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  Numerous human resources education & training facilities  Top notch infrastructure & One-stop solution for licensing, manpower recruitment, on-site logistics, security and estate management services

Tenant breakdown (62 confirmed tenants)

1% 5% 2%1% 1%1% 2% 1% 7%

12%

Packaging 15% 2% 19% Electronic Taiwan 49% 6% Logistic & Warehouse Indonesia

4% 25% 10% 34% China Food & Fashion Industry Beverage

18 4 Kendal Industrial Park – Park by the Bay

19 4 Tanjung Lesung

Tanjung Lesung overview Malaysia

Singapore Location ~ 170 km southwest of Jakarta in Banten Indonesia Tanjung Lesung Tourism-based integrated township (hotels, Concept apartments, sailing, diving & beach clubs)

Currently accessible by toll road from Jakarta in Australia Access ~ 3.5 hours

SOEKARNO – HATTA Merak International Airport

Anyer Krakatau Serang Mountain Jakarta

Pandeglang Jakarta-Merak Tanjung Lesung Toll Road Labuan Future Toll road Panaitan Island Panimbang

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

20 4 Tanjung Lesung

Strong government support for Tanjung Lesung's development as a tourism zone...

Facilities and infrastructure at Tanjung Lesung

 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 breakfast and several cottages

 Other facilities: restaurant and bar, golf course, swimming pool, spa, beach club, sailing club, Golf course private air strip, school, mosque, residential housing units, and a medical clinic

Strong government support for development of Tanjung Lesung

 One of 10 New Tourism Destinations in Indonesia that the Indonesian Government is promoting

 New toll road from Serang Timur to Panimbang: A consortium led by PT Wijaya Karya Tbk (Persero) won the tender for this project, land acquisition is ongoing and construction has Aerial view commenced

 Tanjung Lesung has been designated as Special Economic Zone for Tourism Villa with private pool at Tanjung Lesung

…is expected to increase interest from potential investors/partners for the project

21 4 Tanjung Lesung

Current property products

Tanjung Lesung Beach Hotel

KALICAA VILLA

22 4 Morotai

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

3 hours flight from Singapore and Taipei Great potential for tourism, agricultural and fishing industries, and as a logistics hub

Morotai is a Special Economic Zone for tourism and 1 of 10 new tourism destinations promoted by the government

Evening view at Morotai

Beach view at Morotai

23 5 Clear strategic focus

KIJA's existing pipeline provides visible opportunities over different time frames

 Development of Tanjung Lesung  Continue to develop and capitalize on tourism-based township Kota Jababeka Township

Short Term Medium Term  Development of Morotai, initially as a  Further development of Kendal tourism-based township, longer term Industrial Park in partnership with also as a logistics hub and for Sembcorp in Central Java agriculture /fishery industries

Long Term Vision

 Replicate Kota Jababeka's industry-based integrated township model throughout Indonesia

 Build out an infrastructure facility portfolio (power, water, ports, etc.) to support these new townships

24 6 Financial Highlights

Revenue breakdown (IDR billion) Gross profit (IDR billion) and Gross profit margin (%) 3,500 1,600 100% 3,140 2,931 2,995 3,000 2,712 1,400 90% 1,389 1,200 80% 2,500 1,272 2,254 1,243 1,208 1,221 1,179 1,142 1,000 1,137 70% 2,000 1,829 963 800 60% 1,500 843 1,062 600 753 50% 1,000 44% 43% 1,868 1,774 42% 41% 1,723 1,570 400 38% 40% 1,291 37% 500 767 200 30% - 0 20% 2015 2016 2017 2018 2019 9M20 2015 2016 2017 2018 2019 9M20 Recurring revenue Real estate & other revenue Gross profit Gross profit margin

EBITDA (IDR billion) and EBITDA margin (%) Net income (IDR billion) 1,400 60% 500

1,200 55% 400 427(2) 1,167 1,000 50% 300 331(1) 1,025 950 800 914 45% 200

150(2) (2) 600 672 40% 100 141 609 37% 67(1) 400 35% 35% 35% 0 33% 2015 2016 2017 2018 2019 9M20 200 31% 30% (100) 30% (171)(1) 0 25% (200) 2015 2016 2017 2018 2019 9M20 EBITDA EBITDA margin (300)

Notes: 1 Approximate unrealized foreign exchange loss (non cash) for FY15: IDR 156 billion, FY18: IDR 248 billion, 9M20: IDR 254 billion 2 Approximate unrealized foreign exchange gain (non cash) for FY16: IDR 135 billion, FY17: IDR 59 billion, FY19: IDR 158 billion – and in FY17 additional 1-off expenses of Rp 175bn as a result of redemption of 2019 senior notes 25 6 Balance Sheet Highlights

Assets and cash (IDR billion) Debt, Equity (IDR billion) and Debt/Equity (x) 7,000 1.00 14,000 6,307 11,784 12,185 12,371 5,900 6,053 6,055 0.95 12,000 11,226 6,000 5,638 10,734 0.90 9,741 4,978 10,000 5,000 4,359 4,486 0.85 4,041 4,177 0.80 8,000 4,000 3,510 3,565 0.74 0.75 0.72 6,000 3,000 0.71 0.70 0.68 0.66 0.65 4,000 2,000 0.63 0.60 2,000 1,000 0.55 1,086 1,329 0 827 792 895 884 0 0.50 2015 2016 2017 2018 2019 9M20 2015 2016 2017 2018 2019 9M20 Cash and cash equivalents Total assets Total debt Total equity Debt/Equity

EBITDA/Interest expense (x)(1) Net debt/EBITDA (x) 4.0 5.0 3.5 4.5 4.6 4.0 3.0 3.4 3.1 3.5 3.9 3.7 2.5 2.7 3.0 3.4 2.0 2.3 2.5 2.7 2.0 2.0 1.5 1.7 2.3 1.5 1.0 1.0 0.5 0.5 0.0 0.0 2015 2016 2017 2018 2019 9M20(2) 2015 2016 2017 2018 2019 9M20(2)

Notes: 1 Includes capitalized interest + Hedging Fees 26 2 LTM 6 9M20 Financial Highlights Press Release

PT Jababeka Tbk (“KIJA”) recorded a total revenue of Rp 1,829.1 billion for the first three quarters of 2020, an increase of 29% compared to the same period of 2019. This increase in revenue was mainly the result of more contribution from Kendal in the Land for Development & Property Pillar.

The Company’s Land Development & Property pillar saw revenue increase 127% to become Rp 997.5 billion in 9M20, from Rp 438.5 billion in 9M19. This increase in revenue was mainly the result of a strong performance in Kendal, which saw land sales jump from Rp 7.1 billion in 9M19 to Rp 630.4 billion in the first three quarters of 2020.

The Infrastructure Pillar revenue decreased 16% to become Rp 767.3 billion, which was mainly caused by a reduction in revenue derived from the Dry Port and Bekasi Power; 31% and 18% respectively. Covid-19 and macro-economic factors caused a decrease in TEU throughput in the Dry Port from 63,112 TEU in 9M19 to 44,847 TEU in 9M20 and this directly impacted the revenue decline. Power revenue was down because of more days spent in Reserve Shutdown at the request of PLN in 9M20 compared to 9M19. On the contrary, revenue from Infrastructure Services increased 6% year-on-year.

KIJA’s Leisure & Hospitality pillar posted a slight increase in revenue to become Rp 64.2 billion in the first three quarters of 2020 from Rp 62.5 billion in the previous year. Revenue from villa and tourism showed a strong improvement with revenue growth of 72% year-on-year and a growth of 36% from Rp 6.9 billion in 2Q20 to Rp 9.4 billion in 3Q20.

The recurring revenue generated from the Infrastructure Pillar amounted to 42% from total revenue in the first three quarters of 2020, compared to 64% in the previous year. This lower contribution is mainly the result of significantly more contribution from revenue of the Land Development & Property segment.

The Company’s gross profit increased 29% to become Rp 753.3 billion in 9M20, in line with the rise of revenue. At the same time, KIJA’s consolidated gross profit margin for the first three quarters of 2020 was recorded at 41%, the same compared to the previous year.

KIJA recorded a net loss of Rp 171.1 billion in the first three quarters of 2020 compared to a net profit of Rp 63.5 billion for the same period in 2019. The main reason for this difference is caused by the impact of foreign exchange (forex) movements as the Company booked a forex loss of Rp 255.4 billion (translation loss) in 9M20 compared to a forex gain of Rp 102.4 billion in 9M19.

The Company’s EBITDA in 9M20 reached Rp 609.0 billion compared to Rp 450.0 billion in 9M19. The recurring EBITDA from the Company’s infrastructure businesses amounted to Rp 289.0 billion in 9M20, an increase of 1% compared to previous year with Rp 285.1 billion.

In terms of Land Development & Property marketing sales the Company achieved Rp 557.4 billion in the first three quarters of 2020. Sales from industrial products (land or land with standard factory buildings) contributed 45%, while the residential/commercial and others segments contributed the balance 55%. The 9M20 marketing sales achievement is heavily affected by the Covid-19 pandemic as the Company recorded just over half the marketing sales in 9M20 compared to 9M19 when Rp 1,084.0 in marketing sales was achieved. On a positive note, 3Q20 more than doubled compared to 2Q20 as marketing sales grew from Rp 144.8 billion in 2Q20 to Rp 301.8 billion in 3Q20.

Please contact us at [email protected] if you want to be included in the Company’s distribution list 27 6 FY20 Marketing Sales Realization

Total Q1 Q2 Q3 Q4 Description Unit Area (m2) Amount (RpK) Unit M2 Amount (RpK) Unit M2 Amount (RpK) Unit M2 Amount (RpK) Unit M2 Amount (RpK) 100% Consolidated / Wholly Owned - Subtotal: 557 148,609 668,455,644 50 21,417 110,135,468 134 30,877 141,769,857 250 37,988 200,301,556 123 58,327 216,248,763 Land Plots - Cikarang 12 92,966 220,297,389 3 14,761 42,004,500 3 16,722 26,736,000 2 15,314 38,729,988 4 46,169 112,826,901 Industrial Buildings - Cikarang 14 11,843 84,872,976 6 3,337 23,945,413 4 3,671 26,757,391 4 4,835 34,170,172 Landed Houses - Cikarang 438 36,643 202,295,840 37 2,789 22,325,368 95 9,680 48,566,731 206 17,684 85,899,505 100 6,490 45,504,236 Commercial / Shop Houses - Cikarang 74 7,157 110,341,523 9 3,867 44,978,600 23 1,138 22,927,914 27 1,319 26,531,827 15 833 15,903,182 Apartments - Cikarang 19 - 6,068,390 1 387,000 7 2,897,181 11 2,784,209 - - Tanjung Lesung, Rental & Other - - 44,579,526 440,000 16,696,618 19,598,636 7,844,272

Joint Venture - Attributable subtotal: 117,557,904 336,798 1,527,534 51,957,946 63,735,626 Land Plots - Kendal * 51% 7 169,907 216,153,572 ------2 79,689 95,437,633 5 90,218 120,715,939 Industrial Buildings - Kendal * 51% ------Apartments - Kawana ** 60% 1 - 1,608,182 ------1 - 1,608,182 - - - Apartments - Riverview *** 51% 48.00 - 12,460,143 - - 660,388 12 - 2,995,165 19 - 4,548,713 17 - 4,255,877

Total attributable marketing sales 786,013,548 110,472,266 143,297,391 252,259,502 279,984,388

Total marketing sales 613 318,516 898,677,540 50 21,417 110,795,856 146 30,877 144,765,022 272 117,677 301,896,085 145 148,545 341,220,578

* Joint Venture between Jabebeka (51%) and Sembawang Corporation (49%) for the development of Kendal Industrial Park in Central Java ** Joint Venture between Jababeka (60%) and Creed Group (40%) for the development of Kawana Golf View Residences in Cikarang *** Joint Venture between Jababeka (51%) and PT PP Property Tbk (49%) for the development of Riverview Residences in Cikarang

KIJA achieved Rp898.7bn realized in 2020, about 54% compared to 2019 mainly due to the Covid-19 pandemic. On a positive note, the performance in 2H20 was more than 2.5x 1H20 on the back of an industrial pick-up in Kendal and Cikarang, and a successful launch of a landed residential project in Cikarang

28 Historical Marketing Sales

2019 2018 2017 Description Unit M2 Amount (Rp) Unit M2 Amount (Rp) Unit M2 Amount (Rp)

Land Plots - Cikarang 16 104,269 252,599,124 9 59,077 233,445,682 8 64,166 211,899,435

Land Plots - Kendal 7 583,415 722,891,817 7 132,873 160,188,224 30 10,724 78,192,961

Standard Factory Buildings 20 8,995 67,061,942 20 13,412 98,321,825 209 12,745 124,146,085

Landed Houses 297 26,335 187,416,062 408 32,232 291,682,182 306 14,683 403,522,276

Commercial / Shop Houses 120 11,249 231,372,395 69 21,904 304,234,228 570 - 266,068,746

Apartments 113 - 63,665,272 263 - 176,955,356 13 132,479 186,693,695

Tanjung Lesung, Rental & Other - - 139,389,418 56 110,405 91,144,760 10 - 263,514,314

Total 573 734,263 1,664,396,030 832 369,903 1,355,972,257 1,146 234,797 1,534,037,512

29 6 Debt Overview – As of 30 September 2020

Debt Maturity Profile (Million USD) (1) 300 Fixed vs Floating Interest Rate 12 1%

10 Floating 8 Fixed 99% 6

4 3.5 IDR vs USD Debt 2.7 1.8 2% 2 1.3 0.5 0.6 0.7 0.20.1 0.3 0 IDR 2020 2021 2022 2023 2024 USD

Standard Chartered Bank Central Asia Bank Tabungan Negara 98% Bank Negara Indonesia Global Notes

Total Debt as of 1H20  IDR 4.63 trillion equivalent (1 USD = 14,918 IDR) – average cost of debt 6.56% p.a.

 Bank Tabungan Negara IDR 78bn as per 9M20 10.5% p.a. Construction Loan (JV w PT PP – Riverview)  Bank Central Asia USD 2.1mn as per 9M20 5.25% p.a. Project loan (warehouse in logistics park) Bank Loans (unaudited)(1)  Standard Chartered Bank USD 3.5mn as per 9M20 3M LIBOR + 4.15% p.a. Working Capital at Bekasi Power (rolling)  Bank Negara Indonesia IDR 13bn as per 9M20 11.75% p.a. Construction Loan (JV with Creed - Kawana)

Global Notes  US$ 300 million Guaranteed Senior Notes Due 2023 6.5% p.a. 7NC4

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

Notes: 30 1 Excludes Rp2bn working capital facility at PT Banten West Java at 12.5% average interest rate & Finance Lease payables amounting to Rp2.4bn 7 Experienced management team

Average of more than 25 years of industrial township development experience

Board of Commissioners

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

Board of Directors

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

31 8 KIJA NAV – As per 30 September 2020

Land bank Size (ha) ASP (Rp million) NAV (Rp bn) Cikarang Inventory 163 4.00 6,520 Land for Development* 1,082 0.55 5,954 Kendal Inventory 0.1 1.50 2 Land for Development* 552 0.35 1,932 Tanjung Lesung Inventory 22 1.00 224 Land for Development* 1,473 0.25 3,683 Morotai Inventory 465 0.20 931 Land for Development 1,328 0.02 265

Subtotal land bank 19,511

Infrastructure & Others (DCF) 2,762

Add (cash, advances, investments in associates, deposits, etc) 2,732 Deduct (loans, customer advances, etc) (5,705)

Total NAV 19,300 Number of shares (billion): 20.53 NAV per share 940

Share Price (as at Sept 30) 185 Discount to NAV 80%

* 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 overview of the Company’s internal net asset value (NAV) calculation. The information is provided for quick reference only. 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 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 32 in or omissions from, any information contained herein. Thank You www.jababeka.com

33