COMPANY UPDATE
June 2021 CORPORATE STRUCTURE OF WASKITA GROUP
Waskita Group, which has vertically integrated business lines, has supported PT Waskita Toll Road (WTR), particularly with the capability and extensive experience in the field of construction and precast concrete.
Waskita is one of the leading construction companies in Indonesia. . Waskita has more than 50 years experience in construction business with proven track records. 99.99% 87,595% 59.99% 99.99% . Selected Waskita projects :
Bali – Benoa Gempol – Mandara Toll Road Toll Road Pasuruan Toll Road
WBP is supplying precast concrete to support the WBP has business activities in the field of execution of Waskita’s projects, including WTR toll roads, marketing, production, design, development and hence the quality of concrete can always be maintained. expedition of precast. . Currently, WBP is one of the biggest precast and WTR collaborates with Waskita, as the contractor readymix concrete manufacturing in Indonesia. of the projects, which ensures the projects . WBP has 11 concrete plants with the production completion time and quality. capacity of 3.25 million tons every year. . Selected WBP Projects: Enhancing WTR's ability to complete the project on schedule with the best quality Nusa Dua – Gempol– Gempol – Ngurah Rai Toll Porong Toll Pasuruan Toll
2 Overview of PT Waskita Toll Road (“WTR”) Currently, WTR owns 13 toll roads, of which 10 toll roads are already in operation and when all of the projects are completed, it will become a leading toll road company with a total length of ±687,69 km.* CORPORATE STRUCTURE* Transjava Sumatera Area 60.00% 39.50 % 30.00% 98.18% PT Waskita Toll Road (“WTR”), established PT PT PT Hutama PT on June 19, 2014 is a subsidiary of Waskita Pemalang Waskita Marga Waskita that focuses on investing and managing toll Batang Tol Trans Jawa Waskita Sriwijaya road in Indonesia. Road Toll Road Tol 87,595% (“PBTR”) (“WTTR”) (“HMW”) (“WST") WTR business growth strategy is through the acquisition of toll road concessions that 99.99% 77.69% 99.99% are still greenfield projects, initiation of PT PT PT Trans unsolicited projects, and participation in Pejagan Semesta Jawa bidding project tender. Pemalang Marga Paspro Tol Road Raya Jalan Tol VISION (“PPTR”) (“SMR”) ("TJPJT") To be a leading company in Indonesia in toll road investment. 7,904% 4,501% Non Transjava MISSION 69.70% 55.00% 90.00% 99.99% 99.82% PT Kresna PT Cibitung PT Continously increasing company value Kusuma Tanjung Cimanggis PT Trans PT Waskita through : Dyandra Priok Port Cibitung Jabar Tol Bumi Wira Marga Tollways Tollways ("TJT") (“WBW") 1. Competent Human Resource ("KKDM") (“CTP”) ("CCT") 2. Integrated Systems and Technologies 15.00% 18,20% 3. Synergies with business partners PT Citra PT Citra 4. Innovation Karya Waspp Jabar Tol hutowa (“CKJT”) ("CW")
3 *as of June 21 WTR’S INVESTMENT IN TOLL ROAD
HMW (Kuala Tanjung-Tebing Tinggi-Parapat) 143.25 km
WST (Kayu Agung- Palembang-Betung) 111.69 km
PT Waskita Transjawa Toll Road TJPJT SMR PPTR (Pasuruan- (Kanci-Pejagan) (Pejagan-Pemalang) Probolinggo) 35.00 km 57.5 km 43.75 km
KKDM (Bekasi-Cawang- Kampung Melayu) CCT 16.02 km (Cimanggis- PBTR Cibitung) (Pemalang-Batang) 26.18 km 39.20 km
CW Full Operation (Depok-Antasari) 27.95 km Partial Operation Under Construction
TJT WBW (Ciawi-Sukabumi) CTP CKJT (Krian-Legundi- 54.00 km (Cibitung- (Cileunyi-Sumedang- Bunder-Manyar) Cilincing) Dawuan) 38.29 km 34.76 km 60.10 km
. The main players of toll road industry are (i) Jasa Marga (±1,527 km toll road in 2018)*, (ii) Waskita (±687,69 km for 13 toll roads through WTR in May 2021), (iii) Hutama Karya (±650 km in 2019)**. . Besides Java, WTR is also active in developing toll roads in Sumatra, namely Kayu Agung-Palembang-Betung toll road (111.69 km), and Kuala Tanjung – Tebing Tinggi – Parapat toll road (143.25 km). 4 * Public Expose of Jasa Marga September 2018 **Public Expose of Hutama Karya 2019 GOVERNMENT’S SUPPORT TO ACCELERATE TOLL ROAD DEVELOPMENT As one of the strategic project, the Government gives full support, both in investment and regulation side, for the toll road development in order to boost connectivity, reducing travel time and lower the logistic fee. TOLL ROAD MASTER PLAN NEW REGULATION TO ACCERELATE LAND ACQUISITION The government has ed to operate 6,115 km toll roads on 2025. Ministry of Public Works & Housing Regulation Number 03/PRT/M/2017 Therefore, each of toll road construction will be supported by the . government to achieve. The land acquisition for toll road construction is the responsibility of the Government and the fund may be originating from the State Budget, which can be covered first by Business Entity. KALIMANTAN . The land acquisition fund for Toll Road construction is provided by the SUMATERA 99 Km SULAWESI Government through the appointed agencies, which is Lembaga Manajemen Aset Negara (LMAN) 2,865 Km 107 Km . In the case of LMAN referring to sentence yet to operate, the Business Entities could use the Business Entity’s fund for land acquisition. JAWA . LMAN will reimburse the business entity’s fund that used for land acquisition BALI along with the cost of funds at the BI 7 day repo rate. 2,815 Km 229 Km Ministry of Finance Regulation Number 139/PMK.06/2020 Toll Road Operating in 2025 = 6.115 Km . 139/PMK.06/2020 states that land acquisition funding can be paid directly by Estimated Investment Cost = USD 51,642 Million LMAN or covered first by Business Entity. Source: Ministry of Public Work and Housing Government Regulation Number 19/2021 (PP 19/2021) . PP 19/2021 concerning the Implementation of Land Procurement for GOVERNMENT’S ROLE Development in the Public Interest, including Land Procurement for Toll Roads.
TARIFF ADJUSMENT Regulator Funding Guarantee . The 2004 Road Law states that toll tariffs should be calculated based on the financial capability of toll-users, operation and maintenance costs requirement, existing capacity expansion costs, and feasibility of investment . The amount of the toll road tariff is stated in the PPJT and can be charged to the end user after the issuance of the commissioning certificate. Furthermore, the tariff will be evaluated and adjusted every two years based on the relevant region’s inflation
5 INFORMATION SUMMARY
Toll Estimated Estimated Ownership No Subsidiaries Toll Road Route Length Investment Equity Source % (Km) Cost (IDR Tn) Portion (%) 1 PT Waskita Transjawa Toll Road 39.50 - PT Semesta Marga Raya Kanci-Pejagan 77.69* 35.00 2.5 37 PPJT 2018 - PT Pejagan Pemalang Toll Road Pejagan-Pemalang 99.99* 57.50 7.6 30 PPJT 2020 - PT Transjawa Paspro Jalan Tol Pasuruan-Probolinggo 99.99* 43.75 6.3 40 PPJT 2020 4 PT Cimanggis Cibitung Tollways Cimanggis-Cibitung 90.00 26.18 10.6 30 PPJT 2020 5 PT Cibitung Tanjung Priok Port Tollways Cibitung-Cilincing 55.00 34.76 12.9 30 PPJT 2020 Bekasi-Cawang-Kampung 6 PT Kresna Kusuma Dyandra Marga 69.70 16.02 9.5 35 Business Plan 2020 Melayu 7 PT Trans Jabar Tol Bogor-Ciawi-Sukabumi 99.99 54.00 11.7 30 PPJT 2020 8 PT Citra Waspphutowa Depok-Antasari 18.20 27.95 6.6 32 PPJT 2019 9 PT Citra Karya Jabar Tol Cileunyi-Sumedang-Dawuan 15.00 60.10 8.4 30 PPJT 2017 10 PT Pemalang Batang Tol Road Pemalang-Pekalongan-Batang 60.00 39.20 7.8 30 PPJT 2019 Krian-Legundi-Bunder- 11 PT Waskita Bumi Wira 99.90 38.29 12.9 44 PPJT 2020 Manyar Kuala Tanjung – Tebing Tinggi 12 PT Hutama Marga Waskita 30.00 143.25 14.8 30 Business Plan 2020 – Parapat Palembang – Kayu Agung – 13 PT Waskita Sriwijaya Tol 98.18 111.69 22.17 30 PPJT 2020 Betung Total 687,69 133,77
6 Note * : WTTR ownership at SMR, PPTR and TJPJT. WTR’S COMMITMENT IN PROJECT SETTLEMENT (1/3) As part of Trans-Java Toll Road, WTR’s concession is spread across 175,45 km which is divided into 5 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with the other shareholders.
SMR PPTR TJPJT PBTR (Kanci-Pejagan) (Pejagan-Pemalang) (Pasuruan-Probolinggo) (Pemalang-Batang)
START START START START START START START START CONSESSION OPERATION CONSESSION OPERATION CONSESSION OPERATION CONSESSION OPERATION 2008 2010 2014 2016 2017 2019 2016 2018 LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 35 35 57.5 50 43.75 40 39.2 50
7 WTR’S COMMITMENT IN PROJECT SETTLEMENT (2/3) WTR’s concession in non Trans-Java Toll Road is spread across 512.24 km which is divided into 10 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with other shareholders.
KKDM CCT CTP (Bekasi – Cawang – (Cibitung Cilincing) Kampung Melayu) (Cimanggis - Cibitung)
START START START START START OPERATION START OPERATION CONSESSION CONSESSION CONSESSION OPERATION 2016 2017 2015 2020 2018 2021
LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 16.02 45 26.18 45 34.76 50
TJT WBW WST ((Krian – Legundi – Bunder - (Kayu Agung – Palembang – (Ciawi - Sukabumi) Manyar Betung) START START START START START OPERATION OPERATION START OPERATION CONSESSION CONSESSION CONSESSION 2015 2018 2018 2020 2016 2020
LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 54.00 45 38.29 45 111.69 50
8 WTR’S COMMITMENT IN PROJECT SETTLEMENT (3/3) WTR’s concession in non Trans-Java Toll Road is spread across 512.24 km which is divided into 10 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with other shareholders.
HMW CW CKJT Kuala Tanjung – Cileunyi – Sumedang - (Depok - Antasari) Tebing Tinggi - Prapat Dawuan START START START START START START CONSESSION OPERATION CONSESSION OPERATION CONSESSION OPERATION 2019 2022 2016 2018 2018 2021 LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 143.25 40 27.95 40 60.10 40
9 PT Hutama Marga Waskita (HMW)
Summary of HMW Toll Road Ownership Structure
11 The toll road is located in North Sumatera, specifically in Medan. WTR has minority ownerships in these toll roads. WTR owns 30,00% (thirty percent) shares in HMW, the other shareholders are PT Jasamarga Persero Tbk with 30,00% (thirty percent) and PT Hutama Karya with 40,00% (fourty percent) as a majority ownerships. Hutama Karya Jasamarga WTR 40.00% 30.00% 30.00% The toll road has 6 (six) sections. Section 1 (one) has construction 2 progress 84,51%, Section 2 (two) has construction progress 65,93%, Section 3 (three) has construction progress 62,68%, Section 4 (four) has construction progress 41,77%. Section 1, 2 and 3 targeted to be operating in March 2022 and Section 4 in May 2022. HMW Project Status Project Profile Land Clearance, Toll Road Route : Kuala Tanjung-Tebingtinggi-Parapat < Construction Progress, Toll Road Section and Operation Period Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 % of Ownership Offered : Up to 30.00% of WTR ownership in HMW as of Jun 21 Land Clearance Progress (%) 88,64% 84,98% 87,10% 72,22% 0.0% 0.0% Capital Structure of Project : 70.0% Debt: 30% Self-Financing Construction Progress (%) 84,51% 65,93% 62,68% 41,77% 0.0% 0.0% Investment Cost : ±IDR 14.8 Tn (refers to Business Plan Mar Operation Period Mar 2022 Mar 2022 May 2022 - - 2020) 2022 Toll Length : 143.25 Km (Section 1-6) Progress Status Investment Cost Concession Period : 40 Years Actual Remaining Total Daily Traffic Average (LHR) : Not Yet Operated Investment Cost (IDR Tn) 5.756 7.699 13.455 IRR Project : 12,02 % PT Waskita Sriwijaya Tol (WST)
Summary of WST Toll Road Ownership Structure
11 The toll road is located in South Sumatera, specifically in Palembang. WTR has majority ownerships in these toll roads. WTR owns 98,18% (ninety eight point eighteen percent) shares in WST, the other shareholders are PD Bande Seguguk 1,00% (one percent) and PD Prodexim 0,81% (zero point eighty one percent) as a minority ownerships. Prodexim PD Bende Seguguk WTR 0.81% 1.00% 98.18% 2 The toll road has 3 (three) sections. Section 1 (one) has commenced its operation since April 2020, Section 2 (two) has construction progress 35,46% and has been operated since Januari 2021 for Section 2A and Section 3 (Three) has construction progress 6,25% WST
Project Status Project Profile Land Clearance, < Construction Progress, Toll Road Section Toll Road Route : Palembang-Kayuagung-Betung and Operation Period Section 1 Section 2 Section 3 % of Ownership Offered : Up to 98.18% of WTR ownership in WST As of Jun 21 Land Clearance Progress (%) 100% 89,98% 53,45% Capital Structure of Project : 70.0% Debt: 30% Self-Financing Construction Progress (%) 100% 35,46% 6,25% Jan 21 ± Operation Period Apr 20 Jan 22 Investment Cost : IDR 22.168 Tn (refers to Business Plan (Section 2A) 2020)
Toll Length : 111.69 Km (Section 1-3) Investment Cost Progress Status Concession Period : 50 Years Actual Remaining Total Daily Traffic Average (LHR) : 10.211 (Apr – Dec 2020) Investment Cost (IDR Tn) 12.422 9.746 22.168
IRR Project : 16,00 % PT Waskita Transjawa Toll Road (WTTR)
Summary of WTTR Toll Road Ownership Structure
1 WTR has ownerships through PT Waskita Transjawa Toll Road (“WTTR”) in 3 of Toll Concession Holders of Transjava Toll Roads, consisting of PT Existing Investor Semesta Marga Raya (“SMR”), PT Pejagan Pemalang Toll Road (“PPTR”) and PT Trans Jawa Paspro Jalan Tol (“TJPJT”). This is one of 60.5% 39,50% Government’s priority program to improve national connectivity particularly in Java island. 2 All of them have already operated (except TJPJT section 4). SMR operated since 2010, PPTR operated since 2016 and TJPJT operated since March 2019 (Section 1-3). 77.7% 99.9% 99.9% Project Profile SMR PPTR TJPJT
Toll Road Route Kanci – Pejagan Pejagan – Pemalang Pasuruan - Probolinggo
% of Ownership Offered Up to 39.50% of WTR ownership in WTTR Capital Structure of 62,60% Debt : 37,40% Self- 70% Debt : 30% Self-Financing 60% Debt : 40% Self-Financing < Land Clearance, Toll Road Section Project Financing Construction Progress, and Operation Period SMR PPTR Estimated Investment ±IDR 2.5 Tn (refers to Concession ±IDR 7.6 Tn (refers to Concession ±IDR 6.3 Tn (refers to Concession Land Clearance Progress Cost Agreement Year 2018) Agreement Year 2019) Agreement Year 2020) 100.0% 100.0% (%) Construction Progress Toll Length 35.00 Km 57.60 Km 43,75 Km 100.0% 100.0% (%) Concession Period 35 Years 50 Years 50 Years Operation Period 2010 2016 24.102 (Year 2018) 15.353 (Year 2018) Not Yet Operated in 2018 Land Clearance, Daily Traffic Average 28.528 (Year 2019) 19.401 (Year 2019) 12.166 (Year 2019) Construction Progress, (LHR) < TJPJT and Operation Period 24.107 (Year 2020) 16.891 (Year 2020) 8.405 (Year 2020) As of Jun 21 Section 1-3 Section 4 16,50 % 15,26 % 15,81 % IRR Project Land Clearance Progress 100.0% 55,90% (%) Construction Progress 100.0% 4,82% (%) Operation Period 2019 2021 PT Cimanggis Cibitung Tollways (CCT)
Summary of CCT Toll Road Ownership Structure
11 The toll road is located in Jakarta Greater Area. PT Waskita Toll Road (“WTR”) owns 90% (ninety percent) shares in CCT, and other shareholders are PT Bakrie Toll Road and PT Bakrie & Brothers with 5% (five percent) ownership respectively. Bakrie Toll Road Bakrie&Brothers WTR 5% 5% 90.0% 2 The toll road has 2 (two) sections. Section 1 now have 100% construction progress and has been operated since November 2020. While section 2 have 74,24% construction progress and will be operated in September 2022. CCT Project Status Project Profile Land Clearance, < Construction Progress, Toll Road Section Toll Road Route : Cimanggis-Cibitung and Operation Period Section 1 Section 2 % of Ownership Offered : Up to 90.0% of WTR ownership in CCT As of Jun 21 Land Clearance Progress (%) 99,02% 85,08% Capital Structure of Project : 70.0% Debt: 30% Self-Financing Construction Progress (%) 100% 74,24% ± Operation Period Nov 2020 Sep 2022 Investment Cost : IDR 10.603 Tn (refers to proposed amendment of Concession Agreement Year 2020) Progress Status Investment Cost Toll Length : 26.18 Km (Section 1-2) Actual Remaining Total Concession Period : 45 Years
Estimated Investment Cost 7.910 2.693 10.603 Daily Traffic Average (LHR) : 23.171 (Nov - Dec 2020) (IDR Tn)
IRR Project : 17,31 % PT Cibitung Tanjung Priok Port Tollways (CTP)
Summary of CTP Toll Road Ownership Structure
11 The toll road is located in West Java. PT Waskita Toll Road (“WTR”) owns 55% (fifty five percent) shares in CTP, and other shareholder is PT Akses Pelabuhan Indonesia (“API”) with 45% (fourty five percent) ownership.
API WTR 45% 55% The toll road has 4 (four) sections. Section 1 is expected to be operated in July 2021. Section 2 is expected to be operated in February 2022, section 2 3 is expected to be operated in February 2022 and section 4 is expected to be operated in September 2022. This toll road is a part of Jabodetabek Toll Road. CTP
Project Status Project Profile
Land Clearance, Estimated Investment Cost 9.260 3.655 12.915 (IDR Tn) Daily Traffic Average (LHR) : Not Yet Operated IRR Project : 15.96% PT Kresna Kusuma Dyandra Marga (KKDM) Summary of KKDM Toll Road Ownership Structure 1 KKDM was established on December 20, 1996. KKDM obtained the Toll Road Concession Rights for Bekasi – Cawang – Kampung Melayu Toll Road section (“Becakayu”) with concession period of 45 years (start concession period: 2016). RDPT 69.7% 2 WTR currently owns 69.7% of KKDM (Becakayu Toll Road Concession Rights Holder). The 30% WTR 0.3% toll road connects Bekasi area to Cawang area (East Jakarta). It is planned to connect to Jasamarga Jakarta Inter Urban Toll Road (“JIUT”). Section 1B and 1C of Becakayu Toll Road has been in operation since in November 2017; 3 subsection of 1A (partial section) has also commenced the operation on late 2018; Section 1A Connection to Wiyoto Woyono and Section 1A On Ramp Jatiwaringin has been in operation since in March 2021. The rest of the sections are expected to be operated in September 2021 for Section 1A Connection to Bekasi, August 2021 for Section 1A Off Ramp Jatiwaringin and November 2021 for Section 2A. Project Status Project Profile < Land Clearance, Toll Road Section Toll Road Route : Bekasi-Cawang-Kampung Melayu (Becakayu) Construction Progress, Section 1A Section 1A Section 2A % of Ownership Offered : Up to 69.7% of WTR ownership in KKDM (On/Off Ramp Jatiwaringin Section 1B Section 1C and Operation Period (Connection) (2A+2A Ujung) as of Jun 21 Barat) Capital Structure of Project : 65.0% Debt: 35% Self-Financing Land Clearance Progress (%) 92,551% 97,741% 99,14% 99,57% 88,42% Investment Cost : ±IDR 8.537 Tn (refers to proposed amendment of Concession Agreement Year 2017) *There is a potential for additional scope for section Construction Progress (%) 80,450% 56,861% 100.0% 100.0% 91,725% 1A (connection) and Section 2A which causes investment costs to increase to Rp. 9.551 Tn March 2021 (to Wiyoto March 2021 (On Operation Period WIyono) Jatiwaringin) 2017 2017 Nov 2021 Toll Length : 16.02 Km (Section 1A: 3.50 Km, 1B: 3.06 Km, 1C: Sept 2021 (to Bekasi) Aug 2021 (Off Jatiwaringin) 5.34 Km, 2A: 4.12 Km) Concession Period : 45 Years Investment Cost Progress Status 13.195 (Year 2018) : Actual Remaining Total Daily Traffic Average (LHR) 21.586 (Year 2019) Estimated Investment Cost 11.163 (Year 2020) (IDR Tn) 9.027 524 9.551 IRR Project : 15,18% PT Trans Jabar Tol (TJT) Summary of TJT Toll Road Ownership Structure 11 The toll road is located in West Java. PT Waskita Toll Road (“WTR”) owns 99,99% (ninenty nine percent) shares in TJT, and remaining shares are owned by Koperasi Waskita. This toll roads is a part of Jabodetabek Tol Road. Koperasi WK WTR 0,01% 99,9% 2 The toll road has 4 (four) sections. Section 1 had been operated since December 2018. Section 2 is expected to be operated in September 2022. While section 3 and 4 are expected to be operated in July 2023. TJT Project Status Project Profile Land Clearance, Toll Road Route : Bogor-Ciawi-Sukabumi < Construction Progress, Toll Road Section % of Ownership Offered : Up to 99.99% of WTR ownership in TJT and Operation Period Section 1 Section 2 Section 3 Section 4 as of Jun 21 Capital Structure of Project : 70.0% Debt: 30% Self-Financing Land Clearance Progress (%) 100.0% 98,39% 23,50% 9.90% ± Construction Progress (%) 100.0% 80,01% 0% 0% Investment Cost : IDR 11.712 Tn (refers to proposed amendment of Concession Agreement Year 2020) Operation Period 2018 Sep 2022 Jul 2023 Jul 2023 Toll Length : 54.00 Km (Section 1-4) Progress Status Investment Cost Concession Period : 45 Years Actual Remaining Total 22.963 (Year 2018) : Estimated Investment Cost 17.865 (Year 2019) 6.229 5.483 11.712 Daily Traffic Average (LHR) (IDR Tn) 16.439 (Year 2020) IRR Project : 15,05 % PT Citra Waspphutowa (CW) Summary of CW Toll Road Ownership Structure 11 The toll road is located in Jakarta. PT Waskita Toll Road (“WTR”) owns 18,2% (eighteen point two percent) shares in CW, and other shareholders are PT Citra Marga Nusaphala Persada Tbk (“CMNP”) and PT Pembangunan Perumahan (Persero) Tbk (“PTPP”) with 72,7% (seventy two point seven percent) and 9,1% (nine point one percent) ownership PTPP CMNP WTR respectively. 9,10% 72,70% 18,20% 2 The toll road has 3 (three) sections. Section 1 had been operated since September 2018. Section 2 has been operated since August 2020. While section 3 is expected operated in December 2021. This tollroad is a part of Jabodetabek Toll Road. CW Project Status Project Profile Land Clearance, < Construction Progress, Toll Road Section Toll Road Route : Depok-Antasari and Operation Period Section 1 Section 2 Section 3 % of Ownership Offered : Up to 18,20% of WTR ownership in CW as of Jun 21 Land Clearance Progress (%) 99,84% 99,41% 23,65% Capital Structure of Project : 68.0% Debt: 32% Self-Financing Construction Progress (%) 99,55% 92,36% 0% ± Operation Period 2018 2020 Dec 2021 Investment Cost : IDR 6.6 Tn (refers to Concession Agreement Year 2019) Toll Length : 27,95 Km (Section 1-3) Investment Cost Progress Status Concession Period : 40 Years Actual Remaining Total 27.552 (Year 2018) Estimated Investment Cost : 4.499 2.101 6.6 Daily Traffic Average (LHR) 31.858 (Year 2019) (IDR Tn) 39.130 (Year 2020) IRR Project : 15,75% PT Citra Karya Jabar Tol (CKJT) Summary of CKJT Toll Road Ownership Structure 11 The toll road is located in West Java. PT Waskita Toll Road (“WTR”) owns 15% (fifteen percent) shares in CKJT, and other shareholders are PT Citra Marga Nusaphala Persada Tbk (“CMNP”) with 51% (fifty percent) as the majority owner, PT Pembangunan Perumahan (Persero) Tbk (“PTPP”) with 14% (fourteen CMNP PTPP JS BA WTR percent), PT Jasa Sarana (JS) with 10% (ten percent) and PT Brantas Abipraya 51.0% 14.0% 10.0% 10.0% 15.0% (Persero) with 10% (ten percent) ownership respectively. The toll road has 6 (six) sections. Section 1, - section 6 are targeted to be 2 operating in December 2021. This toll road is connected to Jabodetabek Toll Road. CKJT Project Status Project Profile Land Clearance, < Construction Progress, Toll Road Section Toll Road Route : Cileunyi-Sumedang-Dawuan and Operation Period Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 % of Ownership Offered : Up to 15.0% of WTR ownership in CKJT as of Jun 21 Land Clearance Progress (%) 98,72% 96,96% 99.76% 52,70% 60,58% 90,86% Capital Structure of Project : 70.0% Debt: 30% Self-Financing Construction Progress (%) State Budget State Budget 100% 1,60% 2,39% 27,08% ± Operation Period Dec 2021 Dec 2021 Dec 2021 Dec 2021 Dec 2021 Dec 2021 Investment Cost : IDR 8.40 Tn (refers to Concession Agreement Year 2017) Toll Length : 60.10 Km (Section 1-6) Investment Cost Progress Status Concession Period : 40 Years Actual Remaining Total Estimated Investment Cost Daily Traffic Average (LHR) : Not Yet Operated 8.078 330,56 8.40 (IDR Tn) IRR Project : 13,11 % PT Pemalang Batang Toll Road (PBTR) Summary of PBTR Toll Road Ownership Structure 11 PBTR was established in 2006 and acquired by WTR in early 2016. The toll road is located in Central Java. PT Waskita Toll Road (“WTR”) owns 60% (sixty percent) shares in PBTR, and other shareholder is PT Sumber Mitra Jaya (“SMJ”) with 40% (fourty percent) ownership respectively. SMJ WTR 40% 60% 2 The toll road has 2 (two) sections and it has been operated since December 2018. This toll road is a part of Trans Java Toll Road that connects with Batang - Semarang Toll Road and Pejagan Pemalang Toll Road. PBTR Project Status Project Profile Land Clearance, < Construction Progress, Toll Road Section Toll Road Route : Pemalang-Pekalongan-Batang and Operation Period Section 1 Section 2 % of Ownership Offered : Up to 60.0% of WTR ownership in PBTR as of Jun 21 Land Clearance Progress (%) 100.0% 100.0% Capital Structure of Project : 70.0% Debt: 30% Self-Financing Construction Progress (%) 100.0% 100.0% Investment Cost : ±IDR 7.803 Tn (refers to Concession Operation Period 2018 Agreement Year 2019) Progress Status Toll Length : 39.20 Km (Section 1-2) Investment Cost Concession Period : 50 Years Actual Remaining Total 13.008 (Year 2018) Estimated Investment Cost : 7.736 67,17 7.803 (IDR Tn) Daily Traffic Average (LHR) 21.185 (Year 2019) 17.858 (Year 2020) IRR Project : 15,75 % PT Waskita Bumi Wira (WBW) Summary of WBW Toll Road Ownership Structure 11 The toll road is located in East Java. PT Waskita Toll Road (“WTR”) owns 99.90% (ninenty nine point ninenty percent) shares in WBW, and other shareholder is PT Panca Wira Usaha (“PWU”) with 0,10% (zero point ten percent) ownership. PWU WTR 0.10% 99.90% 2 The toll road has 4 (four) sections. Section 1, section 2 and section 3 has been operated since November 2020. While section 4 will be operated in Desember 2021. WBW Project Status Project Profile Land Clearance, Construction Progress, Toll Road Route : Krian-Legundi-Bunder-Manyar < Toll Road Section and Operation Period % of Ownership Offered : Up to 99.90% of WTR ownership in WBW as of Jun 21 Section 1 Section 2 Section 3 Section 4 Land Clearance 97,22% 97,53% 96,92% 73,26% Progress (%) Capital Structure of Project : 56.0% Debt: 44% Self-Financing Construction Progress 100,00% 100,00% 100,00% 0% (%) Investment Cost : ±IDR 12.930 Tn (refers to Concession Operation Nov 20 Nov 20 Nov 20 Dec 21 Agreement Year 2020) Period Progress Status Toll Length : 38.29 Km (Section 1-4) Investment Cost Concession Period : 45 Years Actual Remaining Total Estimated Investment Cost Daily Traffic Average (LHR) : 3.632 (Dec 2020) 11.767 1.163 12.930 (IDR Tn) IRR Project : 14,59 % Thank You Investor Relations PT Waskita Toll Road Gedung Waskita Rajawali Tower Lt.7 M.T Haryono Kav. 12-13 RT.04/RW.011 Jakarta Timur, Indonesia 1333 Phone: +6221 851 555 6/8 Email : [email protected] 21