PT Acset Indonusa Tbk Performance Update 1H 2017

Integrated Construction Company Disclaimer

The material in this presentation has been prepared by PT Acset Indonusa Tbk (ACSET) and is general background information about ACSET activities current as at the date of this presentation and are subject to change without prior notice.

This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice.

This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to ACSET businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements, past performance is not reliable indication of future performance. ACSET does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither ACSET and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise.

Performance Update, 1H 2017 2 Contents

Company Profile Business Profile & Operations

Business Strategy Financial Highlights & Updates

Performance Update, 1H 2017 3 Company Profile

Performance Update, 1H 2017 4 Overview

Indonesia’s Leading Integrated Construction Company

PT Acset Indonusa Tbk (“ACSET”) is an integrated construction company, providing technical and construction services in building, civil engineering, foundation and ground engineering specialist works.

ACSET is one of the few construction groups in with the capability to provide services that spans across the entire value chain, and even been able to diversify ACSET's business lines in high-rise controlled-demolition business and infrastructure-related works.

Our niche is in our capability to integrate the specialist works and general construction works effectively to produce the most efficient and cost effective construction; and this differentiates us from others.

Performance Update, 1H 2017 5 Milestones

For the past 22 years, ACSET has been striving to become the pioneer in providing integrated construction solutions to its clients.

Performance Update, 1H 2017 6 Part of Indonesia’s Largest Business Group

Manufacture & Distribution (Market Share 56% for cars and 74% for motorcycles) Construction Machinery Market Leader Banking, general and life insurance, (32% market shares) leasing company

Mining Contracting An Integrated Construction Company Market Leader (48% CPO producer, 900.000 ton for Foundation, Structures, market shares) Infrastructures

Concession: toll-road, clean water and port Coal Mining IT Hardware, software, consulting and Coal reserved 392 million document solution ton

Property developer and building management *Source: PT Astra International Tbk & PT United Tractors Tbk 2016 Annual Report

Performance Update, 1H 2017 7 Shareholding Structure

Aneka Raya Konstruksi Mesindo (ARKM) Tower Crane & Passenger 99.9% Hoist Rental 100.0% 0.01% Foundation & Specialist Karya Supra 0.1% 99.9% Acset Pondasi Indonusa Works Perkasa

84.0% Formwork Sales, Rental & Innotech System Contractor 50.1% 92.3% Sales & Rental of Heavy Sacindo Machinery Equipment

100.0% Foundation & General Acset Indonusa Co., Ltd. (Vietnam) Contractor

55.0% Concrete Pumping Services 49.9% ATMC Pump Service

Mechanical, Electrical & Bintai Kindenko Engineering Indonesia Plumbing (MEP) Contractor 40.0% Public

Performance Update, 1H 2017 8 On-Going Projects

Bakauheni-Sidomulyo Toll Road, Lampung

The Stature,

PLTU Jepara, Soil Improvement Work, Central Java Green Sedayu, Jakarta Mixed-use development Millenium Centennial Batang, Central Java Kebon Sirih, Jakarta Tower, Jakarta

Sedayu City, Kelapa Gading, Jakarta Astra Biz Centre, BSD Grand Mansion, Jalan Borobudur, Jakarta Indonesia 1 Tower

West Vista, Jakarta Thamrin Nine, Jakarta New Plant Surya Cipta PT. IPPI Puri Mansion Apartment Flyover, Jakarta Lot 28, SCBD

Tol JORR II, Ruas Kunciran- Langham Lot 13, SCBD Serpong

Menara Tendean, Foundation Jakarta-Cikampek II Elevated Jakarta Construction Toll Road, Jakarta Infrastructure

Performance Update, 1H 2017 9 Management

ACSET is managed by a dedicated professional, experienced team.

BOARD OF COMMISSIONERS BOARD OF DIRECTORS

JEFFREY GUNADI GIDION HASAN YOHANES EKA CHANDRAWIJAYA President PRAYUDA Commissioner President Director Director

TAN TIAM SENG DAVID IMAN RONNIE ELLYJAWATI SENTOSA Director Commissioner Vice President Director

TJANDRAWATI HERJADI HILARIUS WAAS BUDIMAN ARWANDHI Independent Independent Director Commissioner Director

As of AGMS 2017 decision, 10 April 2017

Performance Update, 1H 2017 10 Organizational Structure

Board of Commissioners

Audit Committee Corporate Board of Directors Secretary

Corporate Audit

Corporate Legal

Business Development

Operation & Marketing Independent Finance Director HC Director Director Director

Project Management Finance & HC, GA, ESR Procurement Group Project Support & Representative Accounting Division Division Division Plant Division (ISO) Marketing & Foundation IT & Customer Project Management Engagement Division System Division Division

Performance Update, 1H 2017 11 Business Profile & Operations

Performance Update, 1H 2017 12 Areas of Expertise

CONSTRUCTION BUSINESS

General Civil Foundation Infrastructure Demolition Building Engineering Other Works Works Works Works Works Works

Geotechnical Mechanical, Electrical Toll Roads Works & Plumbing

Construction Heavy Equipment Sales and Bored Piling & Marine Works Rental (Tower Crane/ Diaphragm Wall Concrete Pump/Passenger Hoist) Waterproofing & Slip Forming/ Power Plants Driven Pilling Formwork System Pre-Stressing/ Bridge Post- Tensioning

Performance Update, 1H 2017 13 General Building Works

Performance Update, 1H 2017 14 Civil Engineering Works

Performance Update, 1H 2017 15 Bored Piling & Diaphragm Wall

Performance Update, 1H 2017 16 Infrastructure Works

Performance Update, 1H 2017 17 Marine Works

Performance Update, 1H 2017 18 Slipforming & Formwork System

Performance Update, 1H 2017 19 Demolition Works

Performance Update, 1H 2017 20 Current Project Portfolio: Foundation Projects

18

1. Indonesia 1, Jakarta 15. Pacific Place, Jakarta 2. Millenium Centennial Tower, 16. Plaza Sudirman, Jakarta

Jakarta 17. Pasar Tanah Abang (blocks A 21 19 3. Taman Anggrek Residences, and B), Jakarta 20 Jakarta 18. Estella Residential 4. Mangkuluhur City, Jakarta Development Project, Ho Chi 5. SBCD Lot 10, Jakarta Minh City, Vietnam 6. Thamrin Nine (phase I-II), 19. Approach bridge of Jakarta Suramadu Bridge, East Java 7. St. Regis, Jakarta 20. Plaza Ambarukmo,

8. Bahana Office Tower, Jakarta Yogyakarta 3 9. District 8 Senopati, Jakarta 21. Soil Improvement Work 22 1 10. Sahid Sudirman Center, (Central Java Project), 17 2 6 Jakarta Batang 10 13 8 5 9 14 11. Botanica Residences, Jakarta 22. Mixed-use Development 7 15 11 4 16 12. Pakubuwono House, Kebon Sirih, Jakarta 12 Pakubuwono Signature, and Pakubuwono House, Jakarta 13. Ciputra World, Jakarta 14. , Jakarta

Performance Update, 1H 2017 21 Current Project Portfolio: Structural Projects

1. Indonesia 1, Jakarta 15. BG Junction Supermall Pakuwon, 17 2. Millenium Centennial Tower, Jakarta 16. Supermall PTC Pakuwon Indah, 14 3. Thamrin Nine, Jakarta Surabaya 15 18 19 16 21 4. District 8 Mixed-Use and 17. Sun Plaza, 20 Langham Tower Development, 18. IV, Surabaya Jakarta 19. Artotel Sanur, Bali 5. Equity Tower, Jakarta 20. TS Suites Hotel and Mall Town 6. (phase I-II), Square, Bali Jakarta 21. Alila Seminyak Resort, Bali 10 7. Gandaria City, Jakarta 22. Millenium Centennial Center, 11 8. Pacific Place, Jakarta Jakarta 1 3 2 23 9. New British Embassy, Jakarta 23. Grand Mansion Borobudur, 22 10. West Vista Apartment, Jakarta Jakarta 5 6 11. Hotel Harris and Yello, Jakarta 4 7 8 12. Pakubuwono Signature and 12 13 9 Pakubuwono House, Jakarta 13. Residence 8 @ Senopati Office and Apartment, Jakarta 14. Astra Business Centre, Tangerang

Performance Update, 1H 2017 22 Current Project Portfolio: Civil & Infrastructure

4 3

18 6 17 12 1 16 2 11 13 9 14 15 5 10 8 7

1. Tanjung Priok Access Road (phase II), Jakarta 12. Construction of toll gate and transaction line, Balaraja 2. Blending silo of PT Semen Gresik Rembang, Central Java Timur and Cilegon Barat, Banten 3. Silo, Packer, and Pen Building of PT Semen Indonesia, 13. Construction of toll gate and office building of East Kalimantan Kertosono-Mojokerto toll road, East Java 4. Port and packing plant, Pontianak 14. Construction work for additional rows of Manyaran- 5. Silo of PT Semen Indonesia Tuban II and IV, East Java Jatingaleh toll road, Central Java 6. Silo of Semen Banjarmasin, South Kalimantan 15. Construction of Semarang-Solo toll road (phase I), 7. Silo of Bosowa Mataram, West Nusa Tenggara Semarang-Bawen row (sect. II), Central Java 8. Silo of PT Semen Gresik Banyuwangi, East Java 16. Jakarta-Cikampek II Elevated Toll Road, Jakarta 9. BP Conveyor 604, East Java 17. Terbanggi Besar-Kayu Agung Toll Road, Lampung 10. Foundation construction of PT Semen Gresik, East Java 18. Bakauheni-Sidomulyo Toll Road, Lampung 11. Tanjung Jati B Power Plant expansion project (2 x 660 MW), units 304, Central Java

Performance Update, 1H 2017 23 Current Project Portfolio: Demolition Projects

1. CIMB Niaga & Sequis Office Building, Jakarta 1 2. International Financial Center Tower II Car Park, 2 Jakarta

Performance Update, 1H 2017 24 Current Project Portfolio: MEP Projects

1. Mixed–Use Development Indonesia 1, Jakarta 2. Jakarta MRT Project – 4 stations (Bundaran

Senayan, Istora Senayan, Bendungan Hilir and 1 ) 2

Performance Update, 1H 2017 25 Financial Highlights

Performance Update, 1H 2017 26 Revenue by Sector, 2016-2017

ACSET’s Revenue by Sector, 1H ‘17 (in IDR billion) ACSET’s Revenue by Sector, 1H ‘16 13 (1%) (in IDR billion) 36 (4%) 27 (3%)

332 (32%)

287 (30%) 605 (60%)

594 (63%)

73 (7%) Construction Sector Foundation Sector Construction Sector Foundation Sector Infrastructure Others Infrastructure Others

Performance Update, 1H 2017 27 Annual Revenue by Sector, 2013-2017

ACSET’s Annual Revenue by Sector, 2013-1H ‘2017 (in % breakdown) 3% 3% 3% 1% 2% 2% 4% 19% 37% 32% 47% 33% 30%

7%

76% 63% 62% 63% 60% 53%

2013 2014 2015 2016 1H '16 1H '17 Construction Sector Foundation Sector Infrastructure Others

Performance Update, 1H 2017 28 Net Income, 2013-1H 2017

Net Income, 2013-1H ‘17 (in IDR billion) 120

100 105 99

80

68 60 64

40 42 Net income (IDR billion) (IDR income Net 33 20

0 2013 2014 2015 2016 1H '16 1H '17

Performance Update, 1H 2017 29 Financial Highlights, 2013–1H 2017

In IDR million 2013 2014 2015 2016 1H ‘16 1H ‘17 Net revenue 1,014,502 1,350,908 1,356,868 1,794,002 943,688 1,022,624 Gross profit 207,686 248,939 224,374 279,639 146,299 170,393 Gross profit margin 20.5% 18.4% 16.5% 15.6% 15.5% 16.7% Operating profit 152,919 176,710 130,915 182,096 92,972 112,775 Operating profit margin 15.1% 13.1% 9.6% 10.2% 9.9 % 11.0% Net income 99,358 104,690 41,917 68,329 32,845 64,157 Net income/share (full amt.) 199 209 84 111 64 92 Total assets 1,298,358 1,473,649 1,929,498 2,503,171 2,962,573 3,252,440 Total equity 560,443 645,117 664,859 1,301,225 1,274,853 1,345,877

Performance Update, 1H 2017 30 New Contracts 2013-Q1 2017

7,141

3,773

3,088

1,621 2,404

606

2013 2014 2015 2016 1H ‘16 1H ‘17

Notable New Contracts, 1H 2017 as follows: 4% 1H 2017 • Toll Jakarta – Cikampek II Elevated Project • Toll Bakauheni – Sidomulyo Project • Toll JORR II Kunciran – Serpong Project

Others: • Soil Improvement Work (Central Java Project) 96% • Mixed-Use Development (Kebon Sirih) • Bored Pile St. Regis Foundation Infrastructure

Performance Update, 1H 2017 31 Business Strategy & Updates

Performance Update, 1H 2017 32 Our Strong Foundation

Our competitive advantages set us apart from our competitors.

Integrated •The only construction company in Indonesia capable of undertaking works from deepest foundation and basement to high-rise structures (integrated) Experience •More than 22 years of experience Competitive •One of the leading building, foundation, and diaphragm wall specialist contractors in Indonesia Branding •Brand recognition in prestigious and high-end projects with wide client base Management •Experienced and dedicated management team Wide range of capabilities •Capable in handling a wide spectrum of projects Leveraging network •Leverage our nation-wide network through being a member of United Tractors and Astra Group Strong Financial Capability •Backed up by robust financial capability as a member of United Tractors and Astra Group

Performance Update, 1H 2017 33 Group Business Strategy

Company or Joint Operation Customers

ACST Reliable Demolition Domestic Company

Infrastructure Foundation Strategic Foundation (Power Plant) Main Customers and ACST Contractor Multinational Company Supporting Construction Works

Infrastructure Construction (Toll Road/High- Domestic/ Value Chain Way, Ports, Foreign with Astra and Dams, Etc Company UT Group

Mechanical, Electrical, and Plumbing Works

Performance Update, 1H 2017 34 Building Trust and Partnership

PT Acset Indonusa Tbk. ACSET Building—Jalan Majapahit no. 26 Petojo Selatan, Jakarta Pusat 10160 Indonesia www.acset.co

ACSET is a publicly listed company in the (IDX: ACST).

Performance Update, 1H 2017 35