PT Tbk Paparan Publik 25 Juni 2019 Table of contents

Section 1 Result summary 3 Section 2 Business summary 7 Section 3 Growth & strategy 14 Section 4 Capital management 18 Section 5 New Project Pipeline 22

Appendix A Company overview 26 Appendix B CSR Activities 2018 33

1 Section 1

Result summary

2 Results summary

(Rp bn unless otherwise stated) 1Q 2019 1Q 2018 Variance Comments Revenue 1,711 1,647 +3.9% 7% increase in recurring revenues and 1% increase in development revenue recognition. Pakuwon Permai contributed Rp 655bn (38%) of revenues.

Gross Profit1 1,007 936 +7.6% Gross Profit Margin (%) 58.9% 56.8%

EBITDA1 993 923 +7.6% EBITDA Margin (%) 58.1% 56.0%

Net Income for the Period2 800 694 +15.4% Net Income Margin (%) 46.8% 42.1% Net Income Attributable to Owners2 662 617 +7.4% Net Income Margin (%) 38.7% 37.4%

Earnings Per Share (In Full Rupiah)2 Basic 13.75 12.80 +7.4%

Notes: 1 Adjusted for acquisition related COGS from goodwill costs of Rp20bn in 1Q 2019 and Rp4bn in 1Q 2018 2 Adjusted for acquisition COGS from goodwill costs of Rp20bn in 1Q 2019 and Rp4bn in 1Q 2018, forex gain (loss) of Rp63bn in 1Q 2019 and (Rp42bn) in 1Q 2018 respectively, gain (loss) on derivative of Rp16bn in 1Q 2019 and (Rp8bn) in 1Q 2018 respectively.

3 Results breakdown

Revenue by segment (1Q 2019) Revenue by project (1Q 2019) Revenue by geography (1Q 2019)

Office Hotel & leasing Pakuwon Grand Serviced 4.0% City Pakuwon Apartments 7.0% 3.8% Kota 8.2% Kasablanka 1.4% 21.9% 35.7% Condo sales 36.3% 11.9% Pakuwon 64.3% Blok M Retail Office sales Mall Plaza leasing 2.2% 35.0% 1.5% 39.6% Landed Tunjungan houses Somerset City 9.7% 0.4% 17.1%

• 52% recurring revenue • Increased revenue contribution of • Jakarta revenue contribution Surabaya projects primarily from expected to grow as PWON • Contribution of recurring income recognizes phase continues to be driven by retail mall 2 condos and develops Bekasi and leasing income • Increased revenue contribution of Simatupang landbank Jakarta projects primarily from Kota • Increased residential sales Kasablanka and Gandaria City • Continued management focus on recognition of condominiums and growing in both Jakarta and landed houses Surabaya • PWON continues to target long term 50/50 recurring/development

4 Key recent developments

 Received in June 2018 ratings upgrade from S&P and Fitch to BB, stable outlook

 Opened Phase 6 retail mall on 23 September 2017

 Received in July 2017 ratings upgrade from Moody’s to Ba2, stable outlook

 Opened Pakuwon Mall Phase 2 & 3 on 22 February 2017

 Refinanced USD200m of 7.125% Senior Unsecured Note due 2019

 Issued USD250m of 5.0% Senior Unsecured Note due 2024

 Acquired in June 2016, 11ha land in Daan Mogot,

5 Section 2

Business summary

6 Residential market update

Residential sales in prime locations by established developers remain resilient despite moderate softening in broader non-prime locations

ASPs of condos in Jakarta (Rpm psm) ASPs of condos in Surabaya (Rpm psm)

60 40

50 35

30 40 25 30 20

20 15

10 10 5 0

0

1H2014 1H2015 1H2016 1H2017 1H2018

3Q 2015 3Q 2016 4Q 2018 1Q 1Q 2014 1Q 2014 3Q 2014 4Q 2015 1Q 2015 4Q 2016 1Q 2016 3Q 2017 1Q 2017 3Q 2017 4Q 2018 3Q Central Surabaya West Surabaya East Surabaya South Surabaya

Source: Colliers Apartment Market Report – Jakarta 3Q 2018 Source: Colliers Apartment Market Report – Surabaya 1H 2018

7 Residential development – Strong take-up of existing projects

Strong pre-sales across all residential and office projects underpins future growth

Historical Pre-sales (Rp bn) Pre-sales and construction update (excludes residential township)

Superblock / GSA Project name Segment Progress update Township (sqm) % Sold 3,500 88 Kasablanka A Office 36.3K 100%1 Completed 3,137 Casa Grande Condo 96.2K 100% Completed 3,061 Angelo Condo 36.9k 83% Finishing stage 3,000 Kota Kasablanka Bella Condo 36.8k 80% Finishing stage Chianti Condo 47.3k 66% Finishing stage 2,505 Pakuwon Tower Office 32.1k 11%1 Finishing stage 2,500 2,220 2,277 Pakuwon Center Office 10.0K 91%1 Completed 2,203 target TP Residence Condo 30.0K 100% Completed Tunjungan City One Icon Condo 57.8K 64% Finishing stage 2,000 Pakuwon Tower Office 16.4K 46%1 Finishing stage

Harvard Condo 26.0k 100% Completed Stanford Condo 25.5k 100% Completed 1,500 Pakuwon City Yale Condo 25.4k 100% Completed Princeton Condo 25.7k 100% Completed Amor Condo 47.4k 76% At level 5 1,000 Orchard Condo 27.6K 100% Completed (16% of Tanglin Condo 32.3K 100% Completed La Riz Condo 41.4K 98% Completed 500 Target) Pakuwon Mall Anderson Condo 57.1k 84% Topping off 356 Benson Condo 53.4k 69% Topping off La Viz Condo 26.7k 29% At level 17 0 2014 2015 2016 2017 2018 1Q 2019 Company data as at March 31, 2019 Note: 1 As % of saleable area, excluding approximately 50-60% of area set aside for lease Note: 2014 includes addition of pre-sales from PT Pakuwon Permai 8 Residential development – Continued ASP growth

ASP growth driven by projects nearing completion and strong end user demand ASP growth across all projects 2018- Superblock / 1Q Project name 2014 2015 2016 2017 2018 1Q2019 % Township 2019 Change Casa Grande 36.0 32.7 33.5 30.1 27.5 - N/A Angelo 37.3 41.6 35.9 31.8 33.0 31.2 -5.6% Kota Kasablanka Bella 38.5 42.3 33.8 32.2 34.2 33.5 -2.2% Chianti 42.0 39.3 35.1 32.5 32.9 1.2% TP5: TP Residence - - 30.0 36.0 30.4 - N/A Tunjungan Plaza TP6: One Icon 32.3 31.4 31.5 32.7 33.0 33.7 2.2% Educity Towers 15.4 15.5 14.7 13.8 16.6 20.0 20.1% Pakuwon City Amor 20.8 21.0 21.9 23.5 7.1% Orchard 18.2 - 14.8 19.6 - - N/A Tanglin 17.6 - 16.1 16.5 16.3 - N/A Pakuwon Mall La Riz 26.1 24.9 26.8 26.9 28.4 - N/A Anderson 19.3 20.8 20.3 18.9 21.5 21.7 1.2% Benson 22.5 22.2 23.0 3.4% La Viz 30.6 30.7 0.6% Pakuwon City 14.5 14.9 13.8 15.1 15.1 15.9 5.2% Townships Grand Pakuwon 10.0 10.1 10.5 10.7 7.8 - N/A TP5: Pakuwon Center 28.5 - 27.4 26.0 30.8 26.5 -13.9% Office TP6: Pakuwon Tower 32.7 32.5 33.5 33.7 0.8% KK2: Pakuwon Tower - 34.0 36.6 7.7% 9 Retail market update

Retail property market helped by limited new supply in Jakarta and Surabaya – driving up occupancy and rents

Average asking base rental rates in Jakarta Cumulative retail supply in Surabaya (sqm) (Rp'000 psm / month)

Very limited new supply from 2019 - 2021

CBD 1,400 900

800 1,200 Outside 700 CBD 1,000 600 800 500

400 600

300 400 200 200 100

0 0 2014 2015 2016 2017 1Q 2018 2Q 2018 3Q 2018 2014 2015 2016 2017 2018 2019F 2020F 2021F Cumulative Supply New Supply

Source: Colliers Retail Market Report - Jakarta 3Q 2018 Source: Colliers Retail Market Report – Surabaya 1H 2018

10 Retail malls – Continued strong leasing interest

Wide appeal of PWON's malls demonstrated by consistently high occupancy Historical Occupancy • Maintained strong occupancy across portfolio Lease Expiry Profile (NLA breakdown) 2014 2015 2016 2017 2018 1Q 2019 Tunjungan Plaza 99% 98% 94% 98% 96%1 96% 4% 9% 11% 13% 24% 39% Kota Kasablanka Mall 99% 99% 99% 98% 99% 99% Gandaria City Mall 98% 98% 96% 96% 94% 97% (sqm) Pakuwon Mall 91% 91% 89% 94% 95%2 95% Pakuwon Trade Center 91% 92% 92% 94% 92% 91% 300,000 Royal Plaza 96% 97% 97% 97% 96% 94% Blok M Plaza 93% 92% 93% 91% 96% 97% 250,000

200,000 Historical Retail Rental (Rp/psm/month)month) 150,000 1Q 2018-1Q2019 2014 2015 2016 2017 2018 2019 % Change 100,000 Tunjungan Plaza 225 238 256 272 268 1 268 +0% Kota Kasablanka Mall 172 185 198 250 277 292 +6% 50,000 Gandaria City Mall 187 192 201 244 261 261 +0% 2 0 Pakuwon Mall 133 145 199 172 177 193 +9% Vacant 2019 2020 2021 2022 2023 Pakuwon Trade Center 88 96 105 111 123 141 +15% Onwards Kota Kasablanka Mall Gandaria City Mall Tunjungan Plaza +0% Royal Plaza 95 107 125 132 141 141 Pakuwon Mall Pakuwon Trade Center Royal Plaza Blok M Plaza 132 130 126 116 134 130 (3%) Blok M Plaza

1 Includes Tunjungan Plaza 6 opened on 23 September 2017 2 Includes Pakuwon Mall 2 & 3 opened on 22 February 2017

11 Office & hotel – Stable rents and rising RevPAR

Offices and hotels further diversify income base and increase recurring income, while complementing existing superblocks

Average Office Rental (before service charge) Hotel RevPAR

1Q 2018 - 1Q 1Q 2018 - 1Q (Rp'000 psm / month) 2014 2015 2016 2017 2018 (Rp '000 /room/day) 2014 2015 2016 2017 2018 2019 2019 % Chg 2019 2019 % Chg Sheraton Surabaya 784 717 515 486 621 629 +1% Kota Kasablanka Tower A 222 223 226 219 215 217 +1% Somerset Berlian 887 824 666 705 659 655 (1%) Kota Kasablanka Tower B 185 168 175 176 176 173 (2%) Ascott Waterplace - - 530 728 760 765 +1% Gandaria Tower 185 230 232 236 226 226 +0% Sheraton Grand Jakarta - - 510 767 960 952 (1%) Pakuwon Center - - - 159 157 157 +0% Four Points - - 414 503 581 619 +7%

Note: Average office rental USD/IDR exchange rate of Rp12,315 in 2014 Note: - Average Somerset RevPAR USD/IDR exchange rate of Rp12,315 and Rp13,118 in 2014 and 2015 respectively

Major office tenants Hotel brands (existing) Hotel brands (upcoming)

12 Section 3

Growth & strategy

13 Long term growth strategy on track

 Target 50/50 recurring/development revenue mix over the long term

 Leverage on strength in retail malls and superblock developments

 Continue to dominate Surabaya and expand Jakarta portfolio

 Actively replenish land bank + acquire land around existing projects

 Maintain prudent capital structure and balance sheet

14 Growth of recurring income portfolio

Plans to continue growing retail, office, and hotel portfolio to maintain recurring income mix

Retail Mall NLA Growth Office Leasing NLA Growth Hotel Room Growth

800 180 722 2,500 159 700 160 646 2100 140 2,000 600 120 500 1,500 100 1250 83 400 80 958981 1,000 60 300 40 500 200 20

0 0 100 Current Rooms Planned by 2023 Current NLA Planned by 2023 Current NLA Planned by 2020

• Pakuwon Mall Phase 4 • Tunjungan City Phase 6 • Pakuwon Mall Hotel (Four Points & The Westin) • East Coast Center 2 Food & • Kota Kasablanka Tower C Entertainment Center • Bekasi Hotel (Moxy & Four Points) • East Coast Center 3 • Bekasi Mall 15 Land bank – Sufficient for >10 years of development

445.4 hectares of land bank to sustain growth and high margins, without being a drag on balance sheet and return on capital

Land under Additional Total land Location Project development (ha) land bank (ha) bank (ha)

Kota Kasablanka 2.7 3.8 6.5 Gandaria City - 1.9 1.9 Simatupang land bank - 4.5 4.5

West Jakarta Daan Mogot land bank 11.0 11.0

Greater Jakarta Bekasi land bank 3.6 3.6

Central Surabaya Tunjungan City 1.1 2.1 3.2

Pakuwon City Township - 213.5 213.5 East Surabaya Outside Pakuwon City - 21.5 21.5 Grand Pakuwon Township - 164.8 164.8 Pakuwon Mall 3.3 2.9 6.2 West Surabaya Royal Plaza - 1.8 1.8 Outside Grand Pakuwon - 6.9 6.9 Total Land Bank 445.4

16 Section 4

Capital management

17 Strong financial growth and optimized capital structure

Revenue (Rp bn) Adjusted EBITDA1 (Rp bn)

58% 56% 55% 56% 58% 8,000 4,500 56% 60% 7,081 54% 7,000 4,000 50% 5,749 6,000 3,500 4,841 3,613 3,000 40% 5,000 4,625 3,872 2,763 2,500 4,000 30% 2,288 2,000 3,927 2,314 3,000 2,080 1,500 3,200 20% 2,666 2,627 2,000 1,647 1,711 1,000 2,162 3,468 2,986 10% 2,311 2,553 819 824 500 923 993 1,000 1,792 828 887 0 0% 0 2014 2015 2016 2017 2018 1Q 2018 1Q 2019 2014 2015 2016 2017 2018 1Q 2018 1Q 2019 Note: EBITDA (LHS) Margin (RHS) Recurring Development Total 1. Adjusted for acquisition related COGS from goodwill costs of Rp4bn in 1Q 2018 and Rp20bn in 1Q 2019 1 Net income (Rp bn) Consistent deleveraging 3,500 60% 35% 47% 3,000 50% 30% 42% 43% 43% 42% 39% 30% 2,500 37% 40% 25% 25% 23% 2,000 30% 20% 1,500 3,042 16% 15% 2,244 20% 14% 1,000 1,967 15% 13% 1,611 1,782 11% 500 10% 10% 9% 8% 694 800 7% 5% 4% 0 0% 5% 3% 2014 2015 2016 2017 2018 1Q 2018 1Q 2019 Net income (LHS) Margin (RHS) 0% 2014 2015 2016 2017 2018 1Q 2018 1Q 2019 Note : Net debt / equity Net debt / assets 1. Adjusted for forex gains/(losses) of (40bn), (277bn), 58bn, (25bn), (189bn), (42bn) and 63bn in 2014, 2015, 2016, 2017, 2018, 1Q2018 and 1Q2019 ; derivative financial instruments gain/(losses) of Rp (33bn), (76bn), (32bn), (31bn), (8bn), (8bn) and 16bn in 2014, 2015, 2016, 2017, 2018, 1Q2018 and 1Q2019 and gain on previously held interest of Rp 132bn from the acquisition of 25% stake in PT Centrum Utama Prima, gains on purchase of subsidiaries with discount of Rp 988bn, adjusted for additional COGS from goodwill costs of Rp59bn, 108bn, 28bn, 26bn, 18bn, 4bn and 20bn in 2014, 2015, 2016, 2017, 2018, 1Q2018 and 1Q2019 and penalty on redemption of bond payable of Rp 154bn in 2017 18 Strong financial position and prudent balance sheet

As of 1Q As of 1Q (Rp bn unless otherwise stated) 2019 2018 Cash 4,793 3,734 Total Debt1 5,435 5,452 Net Debt 642 1,718 Net Debt / Equity 4% 13% Net Debt / Assets 3% 7% Fixed Charge Coverage Ratio (FCCR)2 5.6x 5.1x % Fixed Rate Debt 66% 63%

Credit rating3 S&P BB/stable BB-/stable Moody's Ba2/stable Ba2/stable Fitch BB/stable BB-/positive

Notes: 1. Issuance of US$250m of 5.0% Senior Unsecured Notes due 2024 and redemption of US$200m of 7.125% Senior Unsecured Notes due 2019 2. FCCR calculated as EBITDA / Consolidated Fixed Charges (Interest) 3. Received ratings upgrade from S&P and Fitch to BB, stable outlook at 7 June 2018

19 Well balanced debt maturity profile

Average debt maturity of 3.9 years, with cost of debt between 6.1% – 9.84% p.a.1

Debt Maturity Profile (Rp bn)

As % of 3% 9% 16% 7% 1% 0% 64% total

4,000

3,500

3,000

2,500

2,000 3,561 1,500

1,000

500 915 511 398 50 0 141 - 1Q 2019 2Q-4Q 2019 2020 2021 2022 2023 2024

Bank loans Senior Unsecured Notes 2024 (US$ 250m-fully hedged) Lower-upper Strike : Rp13,500-Rp15,000 and Rp16,500

Note: 1 Based on post-FX hedging cost of US250m of 5.0% Senior Unsecured Notes due 2024 20 Section 5

New Project Pipeline

21 Bekasi Project – Site map

Site overview

Jl. Pekayon Raya Location : Bekasi - Jakarta

Land Size : 36,000 sqm

22 Bekasi Future Development

4 condominiums GSA: 118,000 sqm

Bekasi Project Greater Jakarta

4-star & 3-star Hotel 1 Retail Mall 330 rooms 4 condominiums 2 hotels

Retail Mall GFA: 71,000 sqm

23 Pakuwon Mall Phase 5 Future Development

3 condominiums GSA: 104,858 sqm

Pakuwon Mall Phase 5 Project West Surabaya

3 condominiums

Retail Mall GFA: 71,000 sqm

24 Appendix A

Company overview

25 What sets Pakuwon Jati apart

 The largest retail mall owner amongst Indonesian developers

 A well-balanced portfolio of development and investment properties

 Growth and value creation from identified development pipeline

 Strategically located in ’s two largest and wealthiest metropolises

 One of Indonesia’s most established developers, with a 37 year track record

Market leader in Surabaya Market leader in South Jakarta

#1 Largest superblock in Surabaya #1 + #3 Largest superblocks in South Jakarta

#1 Largest land bank in Surabaya City #1 Largest in South Jakarta

#1 Largest shopping mall in Indonesia #2 Largest mall portfolio in Jakarta

1st To launch retail mall and condos in Surabaya #3 Largest shopping mall in Jakarta

26 Portfolio overview

Strategically located superblocks and townships in Jakarta and Surabaya

Kota Kasablanka Gandaria City Tunjungan City

Location Jakarta Fringe CBD South Jakarta Surabaya CBD Description 12.9ha located right next to Jakarta’s Golden 3rd largest superblock in South Jakarta, sitting on PWON’s first development in 1986, expanded in Triangle. Contains the largest mall in South a 9.3ha lot along a main thoroughfare linking phases. Developing Phase 5 and 6 with premium Jakarta, opened on July 28, 2012 South Jakarta to West Jakarta retail, office, and residential towers Residential 4 condos, 1,077 units, 2 condos, 715 units TP5: TP Residence GSA: 96k sqm 1 condo GSA: 83k sqm GSA: 30k sqm 3 additional condos, TP6: One Icon GSA: 58k sqm GSA: 121k sqm Office Tower A GSA: 34k sqm Tower A GSA: 37k sqm TP5: Pakuwon Center (for sale) Tower C GSA: 32k sqm GSA:10k sqm TP6: Pakuwon Tower GSA: 16k sqm Retail Middle to upmarket Middle to upper middle NLA: 103k sqm NLA: 119k sqm NLA: 98k sqm TP5: NLA: 20k sqm TP6 NLA: 25k sqm Office Tower A NLA: 24k sqm Tower A NLA: 21k sqm TP5: Pakuwon Center (for lease) Tower B NLA: 32k sqm NLA: 10k sqm Tower C NLA: 48k sqm TP6: Pakuwon Tower NLA: 24k sqm Hotel 293 rooms, 5-star hotel 359 rooms, 5-star hotel 293 rooms, 4-star hotel

Projects in red are currently under construction or targeted to start construction within the next 2 years. GSA/NLA and number of units/rooms are estimates. NLA : Net Leasable Area, GSA: Gross Saleable Area

27 Portfolio overview (cont'd)

Strategically located superblocks and townships in Jakarta and Surabaya

Pakuwon Mall Royal Plaza Blok M Plaza Somerset Berlian

Location West Surabaya South Surabaya South Jakarta South Jakarta Description 14.6ha Superblock located in West Surabaya’s Mid-market strata retail mall 78% Mid-market retail mall in South Serviced apartment situated in the affluent residential neighborhood. owned and managed by a Jakarta’s commercial district. exclusive residential area of South subsidiary of PP. Situated along the main Jakarta and a short drive from the Has a mid-market retail mall, Pakuwon Mall (“PM”) thoroughfare connecting South financial center. and a strata retail mall 89% owned and managed by Situated along one of Surabaya’s Jakarta and the central business PP, Pakuwon Trade Centre ("PTC"). main thoroughfares connecting Managed by The Ascott Limited district. North, Central and Greater under the "Somerset" brand Developing Phase 3 & 4 with premium leased retail, Surabaya and easily accessible Planned MRT terminal connects residential condos and hotels. from nearby toll roads, bus terminals directly into the mall (estimated to Phase 2 & 3 mall are over 80% leased. and train stations. complete by approx. 2018). Opening date PM Phase 1: 2003, PTC: 2004, PM Phase2&3: 2017 2006 1991 2007

Residential Phase 2: "Orchard" & "Tanglin" towers GSA: 60k sqm Phase 3: “LaRiz" tower GSA: 41k sqm Phase 4: Three condo towers GSA: 135k sqm Phase 5: Three condo towers GSA: 105k sqm Retail PM NLA: 47k sqm, PTC NLA: 46k1 sqm NLA: 53k2 sqm NLA: 31k sqm Phase 2 NLA: 37k sqm Phase 3 NLA: 36k sqm Phase 4 NLA: 7k sqm 3 Hospitality 316 rooms, 4-star hotel 123 serviced apartment units 204 rooms, 5-star hotel (Somerset brand) 182 serviced apartment units (Ascott brand)

Projects in red are currently under construction or targeted to start construction within the next 2 years. GSA/NLA and number of units/rooms are estimates. NLA : Net Leasable Area, GSA: Gross Saleable Area Notes: 1. Pakuwon Trade Center (“PTC”) NLA excludes sold area of 5,467 sqm 2. Royal Plaza NLA excludes sold area of 15,226 sqm 3. 7 out of 123 units have been sold to 3rd party investors, who in turn receive 5% of all net income generated by the Somerset Berlian

28 Portfolio overview (cont'd)

Strategically located superblocks and townships in Jakarta and Surabaya

Pakuwon City Grand Pakuwon Bekasi Project

Location East Surabaya West Surabaya Greater Jakarta Description Self-contained city in East Surabaya, consisting of Self contained city in West Surabaya, consisting of 3,6 ha located at West Bekasi a residential area, commercial area, and an residential area and a future commercial area Contains the mall, 4 condominiums, and 2 brand of education park Hotels Residential House and land lot community House and land lot community 4 condominiums, 3.198 unit 4 Educity condos GSA:103k sqm1 GSA: 118k sqm 3 ECM condos GSA: 108k sqm Office Shophouses, university, (for sale) schools, and a hospital Retail Family shopping centre NLA: 21k sqm NLA: 71k sqm ECC Phase 2 NLA: 10k sqm ECC Phase 3 NLA: 11k sqm Hotel 150 rooms, 3-star hotel 180 rooms, 4-star hotel

Projects in red are currently under construction or targeted to start construction within the next 2 years. GSA/NLA and number of units/rooms are estimates. Note 1 : Remaining 15 planned condo developments NLA : Net Leasable Area, GSA: Gross Saleable Area

29 Project locations

Jakarta Surabaya

Source: Company Data

30 37 year track record and growing…

2016 2014 Acquired 11 ha Acquired 67.1% of land in Daan of PT Pakuwon Mogot, West 2012 Permai Jakarta and Issued US$200m opening of Completed 4 of 7.125% Senior 2010 Four Points by condos, 2 Unsecured Notes Sheraton Completed 2 offices and due 2019. Surabaya Hotel condos,1 office opened Kota Increased in June 2016 2007 tower, and 1 Kasablanka shareholding of mall in mall with 94% 4.2ha Entered the 1991 Gandaria City, pre-leasing Simatupang land Jakarta market as well as 1 rate bank from 45% to Completed with the mall in 70% Opening of acquisition of 1982 Tunjungan Pakuwon City Pakuwon Mall Plaza II land for Gandaria Phase 2 & 3 in 22 City Superblock Shopping Opening of Feb 17 and Pakuwon Jati in South Jakarta Center (Lifestyle Ascott Tunjungan Plaza established to Center) and the Waterplace 6 in 23 Sep 17. develop Mandiri Office Acquired 33% in May 15, Refinanced Tunjungan Tower stake in Usada Tunjungan US$200m Senior Plaza I, the first Insani Hospital, Plaza mall V Unsecured Note modern Acquired as well as 45% and Sheraton with US$250m of shopping center Kota stake in 4.2ha Grand 5.0% Senior in Surabaya Rebranding of Kasablanka land bank in Jakarta in Unsecured Notes Notes due Pakuwon City project in Simatupang, Oct 15 due 2024 2019 into a self- Jakarta’s South Jakarta Completed 2017 contained city, fringe CBD Tunjungan Plaza 2015 III and IV, complete with Surabaya retail/commercial areas, schools, Sheraton Hotel, 2013 and a hospital 1st property and Regensi Condominium company to be 2011 listed on the Tunjungan City Jakarta Stock becomes the 1st 2008 Exchange Superblock in 1989 Indonesia 1996-2002 31 Appendix B

CSR Activities 2018

32 Corporate Social Responsibility (CSR) Activity 2018

Make a drainage canal from Kejawan Putih Tambak

33 Corporate Social Responsibility (CSR) Activity 2018

Blood donor activities are routinely held at the mall of Pakuwon

34 Corporate Social Responsibility (CSR) Activity 2018

On October 2018 we do greening at Highland Park Hotel & Resort, Bogor, West Java, together with hotel employee successfully planted 1.000 guava trees.

35 Corporate Social Responsibility (CSR) Activity 2018

In 2018, the Company conducted Corporate Social Responsibility with a total fund of Rp3.97 billion

36 THANK YOU

37