Right Place, Right Time, Right Company

PT Tbk 9M 2017 ’s Largest and Most Integrated Property Group Leaders in Integrated Developments, Hospitals, Retail Malls, Hotels and Asset Management CONTENTS

CORPORATE STRUCTURE 01

LARGEST & MOST INTEGRATED PROPERTY COMPANY 02

FOUR BUSINESS DIVISIONS 03

MOST RECENT FINANCIAL RESULTS 04 - 05

DIVERSIFIED LANDBANK & PROJECTS 06 - 07

MOST INTEGRATED BUSINESS MODEL 08

HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT 09

GROWTH STRATEGIES 10

OUR PORTFOLIO 11 - 37

FINANCIAL PERFORMANCE 38 - 42

APPENDICES 43 - 63 CORPORATE STRUCTURE

OTHER MAJORITY SHAREHOLDERS LIPPO RELATED COMPANIES > 5% PUBLIC < 5%

32.00% 31.64%. 36.36 %

As of 30 Sep 2017 No of Floating Shares : 22,771,585,119 Code : LPKR.JK ; LPKR IJ

62,1% 54,4% 62,7% 100%

PT SILOAM INTERNATIONAL PT LIPPO CIKARANG TBK PT GOWA MAKASSAR TOURISM PT BOWSPRIT ASSET HOSPITALS TBK DEVELOPMENT TBK MANAGEMENT

01 LARGEST & MOST INTEGRATED PROPERTY COMPANY

Largest listed property Company by Revenue and Total Assets. Revenue and Total Assets as per 9M 2017: USD 555 million and USD 3.9 billion, respectively.

Fastest growing Indonesian real estate group market cap grew by more than 5x to USD 1.24 billion1 since the merger of eight property related companies in 2004. Market leaders in mixed use integrated developments, hospitals, and retail malls.

Integrated business model with ability to recycle capital, and largest diversified landbank throughout Indonesia.

Only Property Company rated by three rating agencies (B by Standard & Poor’s2 , BB- by Fitch3, B1 by Moody’s 4)

Included in major Indonesia Indices: LQ45,IDX30, Kompas-100, Islamic Index, ISSI, and Investor-33.

Strong International Partners and Shareholders.

Multi Award winning Developer.

1As of Sep 30, 2017 2Rerated on December 12, 2017 3Affirmed on November 30, 2017 4 Rerated on April 28, 2017 02 LPKR FOUR BUSINESS DIVISIONS

DEVELOPMENT REVENUE RECURRING REVENUE

RESIDENTIAL AND ASSET URBAN DEVELOPMENT HOSPITALS COMMERCIAL MANAGEMENT

Development rights: 31 hospitals in 22 cities Malls: Manages 2 public with 6,300 beds capacity listed REITs in SGX : 8,087 ha Own and/or manage under the Siloam 47 malls First REIT & LMIRT Hospitals network. (GFA of 3.3 million sqm) Land already acquired: 39 hospitals in the 38 malls in the pipeline USD2.3 billion Assets 5,002 ha pipeline Under Management

Hotels: Landbank Inventory: National and Own and/or manage Town Management 1,364 ha International (JCI) 9 hotels with 1,970 Lippo Village : 27% accreditation rooms Lippo Cikarang : 36% Tanjung Bunga: 21% San Diego Hills : 6%

03 REVENUE & EBITDA CONTRIBUTION

REVENUE EBITDA 9M’17: Rp 7.489 Trillion 9M’17: Rp 1.521 Trillion

26% 35% 33%

10% 57%

7% 14% 18%

Residential & Urban Development Commercial Hospitals Asset Management

Source : Company as of 9M’17 04 INCOME STATEMENTS: 9M’2017 AND 9M’2016

REVENUE 9M’17: RP 7.489 TRILLION EBITDA 9M’17: RP 1.521 TRILLION REVENUE 9M’16: RP 7.425 TRILLION EBITDA 9M’16: RP 1.701 TRILLION Rp bn Rp bn 800 5.000 702 700 4.500 4.292 4.000 3.824 600 530 3.500 508 500 482 3.000 2.412 400 2.500 1.940 2.000 300 279 280 237 1.500 204 200 1.000 707 651 550 538 100 500 - - - Residential & - Healthcare - Commercial - Asset - Residential & - Healthcare - Commercial - Asset Urban Management Urban Management Development Development

Source : Company as of 9M’2017 NPAT 9M’17: RP 625 BILLION NPAT 9M’16: RP 665 BILLION 05 MOST DIVERSIFIED LANDBANK AND PROJECTS

INDONESIA

Grand Palladium Medan Sun Plaza Plaza Medan Fair Aryaduta Hotel Manado Lippo Plaza Medan Siloam Hospitals Manado Monaco Bay Binjai Supermall Siloam Hospitals Medan Holland Village Manado Aryaduta Hotel Medan

Aryaduta Hotel Pekanbaru Siloam Hospitals Samarinda Siloam Hospitals Siloam Hospitals Balikpapan Bangka Belitung KALIMANTAN SULAWESI MALUKU Siloam Hospitals Jambi PAPUA Lippo Plaza Jambi Palembang Square Lippo Plaza Lubuk Linggau St Moritz Panakukang PSx Mall Siloam Hospitals Lubuk Linggau Lippo Plaza Buton Siloam Hospitals Palembang Projects in Greater Jakarta Siloam Hospitals Buton Aryaduta Hotel Palembang Siloam in Greater Jakarta (12) Tanjung Bunga Township Palembang Icon Mall Malang Town Square Siloam Hospitals Makassar Bandung Indah Plaza JAVA GTC Makassar Istana Plaza Siloam Hospitals Mataram Aryaduta Hotel Bandung Siloam Hospitals Cirebon Siloam Hospitals Labuan Bajo Siloam Hospitals Purwakarta Lippo Plaza Kupang Lippo Plaza Yogya Lippo Plaza Jember Siloam Hospitals Yogya Siloam Hospitals Kupang City of Tomorrow, Siloam Hospitals Nusa Dua, Kuta, Sunset (Bali) Residential & Urban Development Siloam Hospitals Surabaya Lippo Plaza Sunset Hospitals Lippo Mall Kuta Retail Malls Hotels

06 MOST DIVERSIFIED LANDBANK AND PROJECTS

PROJECTS IN GREATER JAKARTA Jakarta Population : 12 million1 N Greater Jakarta Population : 30 million1 JAVA SEA Pluit Village

NORTH JAKARTA

International Airport Soekarno Hatta St. Moritz Gajah Mada Plaza Lippo Mall Puri Holland Village PX Pavilion CENTER OF Metropolis Town Square JAKARTA Aryaduta Hotel Jakarta Siloam Hospitals Kebon Jeruk Lippo Thamrin MRCCC Aryaduta Hotel Semanggi Lippo Village Township Grand Mall Bekasi Blu Plaza Bekasi Benton Junction Embarcadero Bintaro The Plaza Semanggi Millenium Village (LV new CBD) Siloam Hospitals Sentosa Bekasi Siloam Hospitals Hosana Medica Bekasi Siloam Hospitals Lippo Village Kemang Village Siloam Hospitals Blu Plaza Bekasi Siloam General Hospitals Lippo Mall Kemang The Nine Residence Aryaduta Hotel & Country Club WTC Matahari San Diego Hills Memorial Park Maxxbox Karawaci Royal Serpong Village Kramat Jati Indah Plaza Siloam Hospitals TB Simatupang Lippo Cikarang Township BANTEN Siloam Hospitals Cinere Meikarta (OC CBD of Meikarta) PROVINCE Tamini Square Siloam Hospitals Asri Siloam Hospitals Lippo Cikarang EAST Lippo Cikarang Mall Pejaten Village JAKARTA Citywalk Cikarang Maxxbox Cikarang Residential & Urban Development Cibubur Junction Hospitals Retail Malls WEST JAVA Hotels Bellanova Country Mall PROVINCE Offices Depok Town Square Eka Lokasari Mal TOLL ROAD Park View Apartments Lippo Plaza Kebun Raya Bogor 1Indonesia Central Statistic Bureau Siloam Hospitals Bogor Puncak Resort 07 MOST INTEGRATED BUSINESS MODEL IN INDONESIAN PROPERTY SECTOR

DEVELOPERS PROPERTY OPERATIONS Majority of Indonesian Developer, Operator and Majority of Indonesian Developers REIT & Portfolio Developers Managers

REITs

Integrated Projects Development Across Property Income Proven Experience & Value Chain Track Record Projects: Buyers: Prudent & Sustainable Existing • Residential • Individual Financial Management Landbank & • Industrial • Corporate Proactive • Commercial Capitalizing on Group Land Synergies Recurring Income Acquisition Service: • Healthcare Sophisticated Marketing • Hospitality Middle income and • Leased Mall upper market segment Management THIRD PARTIES

DEVELOPMENT AND OPERATING CAPABILITIES ACROSS THE SPECTRUM OF REAL ESTATE PRODUCTS

08 HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT

BOARD OF COMMISSIONERS:

Theo L. Sambuaga Surjadi Soedirja Agum Gumelar Farid Harianto H. Sutiyoso Chairman Vice Chairman BOARD OF DIRECTORS:

Ketut Budi Wijaya Tjokro Libianto Chan Chee Meng Alwi Sjaaf Richard Setiadi Wijaya Subekti* President Director

*Newly Appointed on EGM Dec 15, 2017 09 GROWTH STRATEGIES

ASSET RESIDENTIAL AND HOSPITALS COMMERCIAL URBAN DEVELOPMENT MANAGEMENT

Enhance value of our Deliver as promised on our RETAIL MALLS Deliver a significant landbank through various hospital expansion program Execute on planned pipeline growth in scale in our new infrastructure whilst further enhancing our developments REITs through our asset development and high position as the leading light strategy. quality residential and hospital and healthcare Expedite the development of commercial products. group in Indonesia. pipeline projects

Continue to complete and Continue our operational Fast track asset Continue to grow our fee deliver on project pipeline and cost efficiency enhancement projects in income contribution which with due consideration of programs to shorten existing malls. strengthen our recurring recent regulations in a more stabilisation periods of new revenue base. realistic launch schedule hospitals. Enhance process and culture to create Indonesia’s Continue to diversify into Set the benchmark for premier malls operator. Increase Fee Income other types of property innovative medical packages through management of developments, i.e. office. that meet the needs of our HOTELS Real Estate Investment growing middle class. Increase market share and Funds (DIRE) Ramp up our marketing profitability of our existing sales to capitalise on Create new medical package hotel portfolio current opportunities and to meet the needs of broad our industry leading market segment for world Entry into the middle market position. class healthcare through launch of three star hotel chain

Wider price range to capture broad market coverage

10 RESIDENTIAL & URBAN DEVELOPMENT

A New Visionary City Redefining The Meaning of Beautiful Modern City 250.000 New Housing for 1.000.000 communities

11 RESIDENTIAL & URBAN DEVELOPMENT

SURROUNDED BY FORTUNE 500 COMPANIES . 4.000 MULTINATIONAL COMPANIES . 1 MILLION CAR PRODUCTION / YEAR . 10 MILLION MOTORCYCLES PRODUCTION / YEAR . 12.000 EXPATRIATES

JAKARTA

BANDUNG

12 RESIDENTIAL & URBAN DEVELOPMENT

6 New Infrastructures

PATIMBAN DEEP SEAPORT LRT CAWANG –BEKASI TIMUR – CIKARANG EST. VALUE : Rp 40 T EST. VALUE : Rp 3,2 T EST. COMPLETION : 2019 (PARTIAL) EST. COMPLETION : 2019

KERTAJATI INTERNATIONAL AIRPORT APM (MONORAIL) CONNECTING EST. VALUE : Rp 23 T 7 INDUSTRIAL AREAS EST. COMPLETION : 2019 EST. VALUE : Rp 21 T EST. COMPLETION : 2020

EXPRESS TRAIN ELEVATED TOLL JAKARTA – CIKAMPEK JAKARTA – BANDUNG EST. VALUE : Rp 16 T EST. VALUE : Rp 65 T EST. COMPLETION : 2019 EST. COMPLETION : 2019

13 RESIDENTIAL & URBAN DEVELOPMENT

200,000 PEOPLE CAPACITIES

International Exhibition & Convention Center CentralTaman KotaPark 100 Ha

4 Layers Coherent Internal Road Networks Indonesian Silicon Valley World Class • Industrial Research Center • Malls 300,000 sqm • National Library • • Facilities • Top 3 Universities International Financial Center Opera Theatre & Art Center • Top 5 High Schools & • 10 International 5 Star Hotels • International Health Center Top 10 Primary Schools 14 MEIKARTA UNDER CONSTRUCTION

12 LAUNCHED IN 2017 : MEIKARTA

SOLD (AS OF 30 SEP 2017) Launched Date 13 May 2017 AmericanAmerican Style Asian Style Marketing Sales Rp 4,9 trillion Style Total Units 13.229 Area (sqm) 688.252 Est. ASP/ sqm Rp 6,5 - 7,8 mn

PAYMENT PROFILE

Cash 16 % Mortgage 49 % Installment 35 %

European Style Modern Style 18 16 RESIDENTIAL & URBAN DEVELOPMENT

LIPPO VILLAGE IN KARAWACI, WEST OF JAKARTA LIPPO CIKARANG, EAST OF JAKARTA

Existing Industrial Industrial CBD Landbank Meikarta

EJIP (Sumitomo) BIIE (Hyundai) Existing Residential

Existing Industrial

Development Rights Land already acquired Landbank inventory Development Rights Land already acquired Landbank inventory 3,066 ha 1,228 ha 318 ha 3,250 ha 2,828 ha 494 ha Workers Residential Population Residential > 50,720 484,300 Population Jobs Houses > 14,000 Houses > 10,583 > 59,521 48,688 Condos > 1,850 Condos > 1,120 Shophouses > 1,216 Global Names : Shophouses > 1,193 No. of Factories Toyota Tsusho, Industrial > 993 Hankook, Danone, Epson, Sanyo, KIA Motors 113.5 km roads built, 59,690 trees planted, 21% green space 281 km roads built, and 94,200 trees planted, 17 RESIDENTIAL & URBAN DEVELOPMENT

TANJUNG BUNGA, MAKASSAR, SOUTH SULAWESI SAN DIEGO HILLS MEMORIAL PARK AND FUNERAL HOME

Development Rights Land already acquired Landbank inventory Master Plan Land already acquired Landbank inventory 1,500 ha 651 ha 290 ha 500 ha 125 ha 90 ha (+ 14 ha family center & lake} Residential Population Jobs Houses > 6,595 Plot Sold > 14,692 13,254 Shophouses > 189 54,501

27 km roads built, and 9,379 trees planted,

18 A LANDMARK PROJECT – SOUTH JAKARTA (FIRST LAUNCHED ON JULY 2007)

THE COSMOPOLITAN THE THE INFINITY SOLD (AS OF 30 SEP 2017) BLOOMINGTON

THE THE THE RITZ THE EMPIRE INTERCON COSMOPOLITAN THE TIFFANY 98% 97% 97% Rp 438 bio Rp 388 bio Rp 340 bio THE RITZ 100% completion 100% completion 100% completion

THE EMPIRE THE TIFFANY THE INFINITY THE INTERCON

100% 100% 100%

International Rp 599 bio Rp 392 bio Rp 360 bio School 100% completion 100% completion 100% completion

THE BLOOMINGTON PAYMENT PROFILE LIPPO MALL KEMANG

91% Cash 30% Rp 915 bio Mortgage 49% 12-36 Monthly Installment 21% 100% completion Construction Progress as at 31 Dec 2016

19 TOTAL LAND AREA : 11.4 Ha (FIRST LAUNCHED ON AUGUST 2008)

NEW ROYAL NEW AMBASSADOR SUITE SUITE SOLD (AS OF 30 SEP 2017) ROYAL (197 units) (171 units) SUITE (231 units) PRESIDENTIAL AMBASSADOR ROYAL SUITES SUITES SUITES

AMBASSADOR SUITE (144 units) Hotel & 96% 97% 98% Offices Rp 449 bio Rp 356 bio Rp 367 bio

100% completion 100% completion 100% completion

NEW NEW NEW ROYAL PRESIDENTIAL AMBASSADOR SUITES SUITES SUITES 88% 90% 99% Rp 600 bio Rp 512 bio Rp 367 bio PRESIDENTIAL SUITE (140 units) NEW PRESIDENTIAL 97% completion 96% completion 100% completion SUITE (159 units) PAYMENT PROFILE LIPPO MALL PURI Cash 24 % Mortgage 47 % 12-36 Monthly Installment 29 %

Construction Progress as at 31 Dec 2016 20 PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2011- 2013)

OFFICE TOWER THE NINE RESIDENCE PARK VIEW APARTMENTS HOLLAND VILLAGE LIPPO THAMRIN AT THE ST. MORITZ SOUTH JAKARTA DEPOK CENTRAL JAKARTA WEST JAKARTA

21 PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2014)

ST. MORITZ PANAKUKANG EMBARCADERO BINTARO OFFICE TOWER AT HILLCREST+ FAIRVIEW MAKASSAR WESTERN WING, TANGERANG HOLLAND VILLAGE, JAKARTA LIPPO VILLAGE

HOLLAND VILLAGE SECOND PHASE EMBARCADERO BINTARO IRVINE + WESTWOOD CENTRAL JAKARTA EASTERN WING, TANGERANG LIPPO CIKARANG

22 PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2015-2016)

PASADENA SUITES MONACO BAY HOLLAND VILLAGE BURBANK GLENDALE PARK NEWPORT PARK CBD Meikarta, MANADO, MANADO, CBD Meikarta, CBD Meikarta, CBD Meikarta, LIPPO CIKARANG NORTH SULAWESI NORTH SULAWESI LIPPO CIKARANG LIPPO CIKARANG LIPPO CIKARANG

23 26

Mature Hospitals

SILOAM HOSPITALS LIPPO VILLAGE SILOAM HOSPITALS BALIKPAPAN TANGERANG (West of Jakarta) EAST KALIMANTAN 308 Bed Capacity JCIA 232 Bed Capacity 274 Operational Beds 165 Operational Bed 252 GP and Specialists 105 GP and Specialists 371 Nurses 141 Nurses Centre of Excellence : Cardiology, Neuroscience, Centre of Excellence : Orthopedics & Emergency Orthopedics & Emergency 79.61% Ownership

SILOAM HOSPITALS KEBON JERUK SILOAM HOSPITALS MANADO WEST JAKARTA NORTH SULAWESI 285 Bed Capacity JCIA 238 Bed Capacity 177 Operational Beds 177 Operational Beds 208 GP and Specialists 108 GP and Specialists 294 Nurses 186 Nurses Centre of Excellence : Urology, Centre of Excellence : Emergency Orthopaedic, Cardiology & Emergency

SILOAM HOSPITALS SURABAYA SILOAM HOSPITALS PURWAKARTA EAST JAVA WEST JAVA 162 Bed Capacity 202 Bed Capacity 160 Operational Beds 194 Operational Beds 159 GP and Specialists 58 GP and Specialists 229 Nurses 200 Nurses Centre of Excellence : Fertility Treatment, Centre of Excellence : Emergency Cardiology & Emergency

24 27

Developing Hospitals

SILOAM HOSPITALS CIKARANG SILOAM GENERAL HOSPITAL (RSUS) BEKASI (East of Jakarta) TANGERANG (West of Jakarta) 114 Bed Capacity 640 Bed Capacity 108 Operational Beds 300 Operational Beds 85 GP and Specialists 139 GP and Specialists 143 Nurses 228 Nurses Centre of Excellence : Occupational Health & Centre of Excellence : Emergency 79.84% Ownership Emergency

SILOAM HOSPITALS JAMBI SILOAM HOSPITALS MAKASSAR EAST SUMATERA SOUTH SULAWESI 100 Bed Capacity 362 Bed Capacity 90 Operational Beds 215 Operational Beds 63 GP and Specialists 125 GP and Specialists 119 Nurses 219 Nurses Centre of Excellence : Emergency Centre of Excellence : Cardiology, 83.0% Ownership Endocrinology & Emergency MRCCC SILOAM SEMANGGI SILOAM HOSPITALS PALEMBANG SOUTH JAKARTA SOUTH SUMATERA 334 Bed Capacity 357 Bed Capacity 176 Operational Beds 150 Operational Beds 171 GP and Specialists 126 GP and Specialists 254 Nurses 163 Nurses Centre of Excellence : Cancer, Liver & Centre of Excellence : Gastroenterology & Emergency Emergency 70.00% Ownership

25 28

Developing Hospitals

SILOAM HOSPITALS KUPANG SILOAM HOSPITALS MEDAN EAST NUSA TENGGARA NORTH SUMATERA 416 Bed Capacity 356 Bed Capacity 110 Operational Beds 101 Operational Beds 55 GP and Specialists 116 GP and Specialists 153 Nurses 104 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency & Trauma

SILOAM HOSPITALS CINERE SILOAM HOSPITALS TB SIMATUPANG DEPOK (South of Jakarta) SOUTH JAKARTA 50 Bed Capacity 269 Bed Capacity 37 Operational Beds 116 Operational Beds 21 GP and Specialists 153 GP and Specialists 36 Nurses 135 Nurses Centre of Excellence: Cardiology Centre of Excellence : Cardiology, Oncology, Neuroscience & Emergency

80.0% Ownership

26 29 Distinct Market Segment Hospitals

SILOAM HOSPITALS BALI BIMC KUTA BALI JCIA BALI 281 Bed Capacity 19 Bed Capacity 116 Operational Beds 18 Operational Beds 126 GP and Specialists 39 GP and Specialists 179 Nurses 61 Nurses Centre of Excellence : Treatment for tourists, Centre of Excellence : Treatment for tourists & Orthopedics, Cardiology & Emergency Emergency

SILOAM HOSPITALS ASRI BIMC NUSA DUA SOUTH JAKARTA BALI 42 Bed Capacity 39 Bed Capacity 42 Operational Beds 24 Operational Beds 121 GP and Specialists 52 GP and Specialists 77 Nurses 51 Nurses Centre of Excellence : Urology Centre of Excellence : Cosmetic Surgery & Emergency

27 30

New Hospitals in 2016

SILOAM HOSPITALS LABUAN BAJO SILOAM HOSPITALS BUTON EAST NUSA TENGGARA SOUTHEAST SULAWESI 124 Bed Capacity 140 Bed Capacity 80 Operational Beds 60 Operational Beds 28 GP and Specialists 32 GP and Specialists 67 Nurses 75 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency

SILOAM HOSPITALS SAMARINDA EAST KALIMANTAN 34 Bed Capacity 10 Operational Beds 23 GP and Specialists 19 Nurses Centre of Excellence : Emergency

28 31

New Hospitals in 2017

GRHA ULTIMA MEDIKA SILOAM HOSPITALS BOGOR WEST NUSA TENGGARA BOGOR (WEST JAVA) 69 Bed Capacity 246 Bed Capacity 40 Operational Beds 60 Operational Beds 45 GP and Specialists 63 GP and Specialists 57 Nurses 54 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency

RUMAH SAKIT UMUM SENTOSA RUMAH SAKIT HOSANA MEDIKA BEKASI (EAST OF JAKARTA) BEKASI (EAST OF JAKARTA) 50 Bed Capacity 101 Bed Capacity 45 Operational Beds 74 Operational Beds 36 GP and Specialists 24 GP and Specialists 35 Nurses 62 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency

RUMAH SAKIT UMUM PUTERA BAHAGIA SILOAM HOSPITALS YOGYAKARTA CIREBON (WEST JAVA) YOGYAKARTA (CENTRAL JAVA) 114 Bed Capacity 149 Bed Capacity 114 Operational Beds 60 Operational Beds 56 GP and Specialists 56 GP and Specialists 142 Nurses 67 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency

SILOAM HOSPITALS BEKASI TIMUR SILOAM HOSPITALS BANGKA BELITUNG Bangka Belitung BEKASI TMUR (EAST OF JAKARTA) 412 Bed Capacity 56 Bed Capacity 23 Operational Beds 20 Operational Beds 33 GP and Specialists 37 GP and Specialists 42 Nurses 47 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency 29 32

For Completion in 2017

<100 Bed Capacity >100 Bed Capacity BANJARMASIN BATU LIPPO MALL JEMBER

MANADO KAIRAGI GUNUNG SAHARI LUBUK LINGGAU Current

SEMARANG HOO

30 33

For Completion in 2018

<100 Bed Capacity >100 Bed Capacity BEKASI GRAND MALL BINJAI ACEH HERMES AMBON

BANJARMASIN DARHAM PALANGKARAYA Current

RSUS KELAPA DUA SORONG

31 34

PROGRESS IN LICENSING

Licensing Process In order to be able to fully commission a new hospital, we have to go through a licensing process involving local governments and provincial health departments. This process involves more than 40 licenses and can be summarized into 6 most critical licenses. Hospital Certificate of Environmental License Building Permit Nuisance Operational Building Permit Proper Building (AMDAL) (IMB) Permit (HO) License (IO) (IMRS) Function (SLF)

Status of Projects for 2017 & 2018*

Hospital AMDAL IMB HO IMRS SLF IO Ambon Banjarmasin Batu Lippo Mall Bekasi Grand Mall Gunung Sahari Jember

Lubuk Linggau Manado Kairagi Hoo Sorong * As of October 2017 32 DOMINANT POSITION IN RETAIL DEVELOPMENT & PROPERTY MANAGEMENT MANAGES 47 MALLS THROUGHOUT INDONESIA . 3.3 million sqm GFA . As of Sep 30, 2017 : Overall average occupancy 88% and 94% in LMIRT properties Pipeline Malls:

LIPPO MALL PURI PX PAVILLION WARUNG BUNCIT, SOUTH JAKARTA

LIPPO PLAZA KEBUN RAYA BOGOR LIPPO PLAZA JEMBER

33 MANAGES 9 HOTELS THROUGHOUT INDONESIA . As of Sep 30, 2017 : Overall average occupancy 68%

HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA LIPPO VILAGE (192 rooms) JAKARTA (302 rooms) MEDAN (197 rooms) PEKANBARU (158 rooms) MANADO (200 rooms)

HOTELS UNDER ARYADUTA MANAGEMENT :

HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA SEMANGGI (274 rooms) MAKASSAR (224 rooms) PALEMBANG (169 rooms) BANDUNG (254 rooms) 34 ASSET MANAGEMENT

UNIQUE FOR AN INDONESIAN PROPERTY COMPANY

100% 100% 100% 100% 100%

PT BOWSPRIT BOWSPRIT LMIR TRUST PT LIPPO MALLS PT ARYADUTA ASSET CAPITAL MANAGEMENT INDONESIA INTERNATIONAL MANAGEMENT CORPORATION 30.79% LTD 29.85% MANAGEMENT LTD ASSET MANAGER OF DIRE MALL HOTEL OPERATOR BOWSPRIT REIT MANAGER Code : FIRT REIT MANAGER Code : LMRT MANAGEMENT COMMERCIAL AND SERVICES INFRASTRUCTURE

Management Fee Management Fee Management Fee Fees Management Fee -Base fee : -Base fee : - 2% p.a. of the gross Fees consists of: -0.2% p.a. of the total asset 0.4% p.a. of the value of the Deposited 0.25% p.a. of the value of the Deposited revenue of the retail malls. under management. Property. Property. - 2% p.a. of the Net -- Management Fee : -Performance fee: -Performance fee : -Performance fee : Property Income of the 2% of total Revenue 2% p.a. of the Net Property 5.0% p.a. of the Net Property Income. 4.0% p.a. of the Net Property Income. retail malls. Income after final tax (10%) -- Incentive Fee: -Investment & Divestment fee. -Investment & Divestment fee. - 0.5% p.a. of the retail - 1% of the acquisition value 1.5% of GOP malls in lieu of leasing - 0.5% of the divestment value commission.

As of 30 Sep 2017 IN IN INDONESIA

35 Managed by Bowsprit Capital Corporation Limited, First REIT’s portfolio consists of 19 properties located in Indonesia, Singapore and South Korea . Manages 14 Siloam Hospitals and 2 Aryaduta Hotels in Indonesia . As of Sep 30, 2017 : Annualised DPU : SGD 8.58 cents

Share Price (SGD) Portfolio Size (SGD mn) Dividend Yield (%) 1,600 1.400 7,2 1.268 1.273 1.273 7,1 1,335 1.172 1,400 1.200 7,0 1,255 1,265 1,200 1.052 6,9 1,200 1,060 1.000 6,8 1,000 6,7 800 0,800 6,6 600 0,600 6,4 6,4 6,4 400 0,400 6,2 0,200 200

- - 6,0 2013 2014 2015 2016 9M17 2013 2014 2015 2016 9M17 2013 2014 2015 2016 9M17

36 MANAGES 21 RETAIL MALLS AND 7 RETAIL SPACES . As of Sep 30, 2017 : Annualised DPU: SGD 3.52 cents Dividend Yield (%) Share Price (SGD) Portfolio Size (SGD mn) 12,00 0,50 2.500

0,45 0,43 0,42 10,00 9,7 1.949 9,2 0,40 2.000 1.897 0,37 1.841 1.836 8,1 8,2 0,35 0,34 7,83 0,32 8,00

0,30 1.500 1.412

0,25 6,00

0,20 1.000 4,00 0,15

0,10 500 2,00 0,05

0,00 - 0,00 2013 2014 2015 2016 9M17 2013 2014 2015 2016 9M17 2013 2014 2015 2016 9M17

37 FINANCIAL PERFORMANCE BALANCE SHEET

AS OF 31 DECEMBER (Unless otherwise stated)

Rp Trillion Sep 17 2016 2015 2014 2013

TOTAL ASSET 52.386 45.604 41.327 37.773 31.303 TOTAL LIABILITIES 26.146 23.529 22.410 20.152 17.142 TOTAL EQUITY 21,356 18.572 16.394 15.588 12.784

TOTAL DEBT 13.646 13.663 12.365 9.997 7.808 CASH AND CASH EQUIVALENTS 1.502 3.250 1.839 3.529 1.855

D/E RATIO (X)* 0.6 0.7 0.8 0.6 0.6 NET GEARING RATIO (X)* 0.6 0.6 0.6 0.4 0.5

Source : Company as of 9M’2017 39 DEBT MATURITY PROFILE

Coupon rate Coupon rate Debt Profile USD million 7% pa 6.75% pa 450

9% 400

11% 350 300 410 425 250 425 80% 200

150

100 75.2 65.8 USD Bonds 50 23.7 18.5 18.6 12.8 0,07 USD Bank Loans 0 IDR Bank Loans 2017 2018 2019 2021 2022 2023 2024 2026

Source: Company as of 9M’2017 ICBC : Rp 70 bn (USD 5.2mn) CTLI : Rp 21.9 bn (USD 1.6mn) Mega : Rp 250 bn (USD 18.5 mn) MUFG : Rp 45.3 bn (USD 3.4mn) ICBC : Rp 182 bn (USD 13,5 mn) BNI : Rp 270 bn (USD 20 mn) CTLI : Rp 126.8 bn (USD 9,4 mn) Bonds Mandiri : Rp 70 bn (USD 5.2 mn) CIMB Niaga : Rp 124.7 bn (USD 9.2 mn) UBS-DB : Rp 674.6 bn (USD 50 mn) J Trust : Rp 172.4 bn (USD 12.8 mn) BPD Kalimantan Timur : Rp 11.8 bn (USD 0.8 mn) UBS-DB : Rp 876.9 bn (USD 65mn) BCA : Rp 1 bn (USD 0,07 mn) 40 ATTRACTIVE ASSET VALUE

Ownership (%) Land Area (ha) Assets Value (Rp bn) URBAN DEVELOPMENT: Lippo Village 100 408 28.783 Lippo Cikarang 54,4 622 16.045 Tanjung Bunga 62,7 192 2.610 San Diego Hills 100 93 2.581 Micro Suburbs 100 20 352 SUB TOTAL1) 50.371 LARGE SCALE INTEGRATED DEVELOPMENT: City of Tomorrow (retail, apart, inv & hotel) 85 5 724 Kemang Village 92 13 2.205 St Moritz 100 11 7.611 11 New Projects 5.412 Others (land, retail space inv & other devt) 100 2.528 SUB TOTAL1) 18.480 RETAIL MALLS: 3 Malls 100 1.996 1 Appraised value as of 31 Dec 2016 by: Retail Space Inventory 100 732 - Rengganis Hamid & Partner (in SUB TOTAL2) 2.728 stategic alliance with CB Richard Ellis) & HOTELS: - Ihot, Dollar & Raymond (an independent member of Baker Tilly 2 Hotels FREIT 683 International) Hotels 100 1.677 2 Business Value : 2) - Malls - 12.66% WACC SUB TOTAL 2.360 - Hotels - 11.96% WACC REIT Units3) 6.774 3 Market Cap as of 30 Sep 2017 HOSPITALS3) 62,1 8.077 4 ESTIMATED TOTAL ASSET VALUE 88.790 Financial Statement as of 30 Sep 2017 Add: Cash4) 1.502 5 NAV/share (30 Sep 2017) = Rp 3,078 Less: Debt4) 13.646 Less: Advances from Customers4) 5.607 ESTIMATED NAV 5) 71.039 41 PROPERTY MARKETING SALES

(in Rp bn) FY 2014 FY 2015 FY 2016 9M 2016 9M 2017

Residential 3.723 3.039 973 556 5.202 Low Rise 1.046 1.129 573 488 111 High Rise 2.677 1.910 400 68 5.091

Commercial 550 127 - 12 56

Industrial 734 279 75 68 64

Unique Product SDH 173 178 154 118 109

Retail Space Inventory 5 - - - -

Total Property Sales 5.185 3.623 1.201 753 5.431

Assets sold to REITS 3.330 - 938 - -

Total Marketing Sales 8.515 3.623 2.139 753 5.431

42 APPENDICES LIPPO GROUP

TMT RETAIL REAL ESTATE Technology – Multimedia – Telecommunications Hypermart Matahari Dept Township Commercial Malls Healthcare Multimedia IT Services & Financial UPH Foundation Store / Int Devt Other Services TMT

Stores Nationwide • Largest modern • 31 Hospitals and 17 - Leading privately clinics - Leading PayTV and -Major IT Services & owned securities - 151 stores in 70 PT Lippo Karawaci mall operator / • 6,100 beds in 22 Internet Service Systems Integrator / house cities Tbk. management in RI Provider cities Retail Holdings - Shareholder in - 3.75 million card •Largest RI Property • accounts for over - Over 550,000 • 6 Targeted - 80% Mkt Share Bussan Auto Finance members Group; 35% of all modern subscribers 299 Stores; 3.9mn th Hospitals (2017) Mkt Cap Mkt Cap (BAF) – a national - 6 most valuable Mkt Cap retail mall space in loyalty card • 2,500 specialists & - Rp1.6T (Oct 2017) - Rp 1.7T (Oct 2017) multifinance brand in Indonesia • Rp 16.96T (Oct Indonesia members GPs - US$119mn - US$129mn company; in • Non-Profit Mkt. Cap. 2017) • 68 malls in 35 Nationwide in 67 • 9,000 nurses & partnership with Educational - Rp28T (Oct 2017) • US$1.25B cities; 40 pipeline cities - US$2.1B • 2,000 major staff Yamaha Motors Co. Foundation - 115 Hypermart Mkt Share tenants, 13,000 - Largest High-speed Ltd., and Mitsui & • Over 46 schools - 109 Boston - 34.4% specialty shops Mkt Cap Cable Network Operator - First 4G LTE Co. Ltd. nationwide in 22 - 72 Foodmart • Rp13T (Oct 2017) - 10,750 kms of fiber Operator in RI; 30 cities - 3 SmartClub • US$960mn optic cable MHz spectrum • 37,589 students • Residential and Mkt. Cap. - over 1.9mn Homepass; - Over 2.8 million • 3,181 teachers & light industrial 29% penetration rate - Rp3.58T (Oct 2017) Bolt subscribers - Life, general and staff estate Mkt Cap - US$264mn - 3,300 installed BTS medical insurance Mkt Cap - Rp15.7T (Oct 2017) Mkt Share - US$1.2bn (Jabodetabek) provider • Rp 2.96 (Oct 2017) 9 Hotels - 35.5% Mkt Cap • US$219mn nationwide - Rp 749B (Oct 2017) - US$55mn - DTH PayTV; 184 ch / 30HD; over 250k subs - TV News and Publication Group • Integrated - over a 1.2 million township online readership Mkt Cap - Multi-screen - Over 102 Nobu • Rp 985B (Oct 2017) Entertainment Centers; Bank branches in 47 • US$ 73mn 102 screens; 19 sites; 14 88 Stores Cities cities nationwide - Most aggressive and Mkt Cap successful online -Tier 3 / 4 Data - Rp3.95T (Oct 2017) retailer 39 bookstores - Manages over SS$3.21 billion in assets (Dec 2016) Center; multi-fiber - US$292m - Well positioned to be - One of Indonesia’s the #1 online B2C - Combined Market Capitalization of SS$2.3 billion (Oct 2017) optic ready - Publicly listed in SNG newest and most 4 retailer in Indonesia progressive B2B and - In partnership with B2G providers Mitsui MKI - Provides unique E- 6 procurement solutions integrated with E- commerce marketplace 44 INDONESIA: ATTRACTIVE GROWING MARKET

Economic Indicators

2017 2018 2016 Assumption Assumption

Economic Growth (%) 5.02 5.2 5.4

Inflation Rate (%) 3.02 4.0 3.5

Exchange Rate (Rp/USD) 13,436 13,300 13.400

7 Day RR (%) 4.75 5.3 5.2

Oil Price (USD/bbl) 51 45 48

Oil Lifting (k bbl/day) 820 815 800 Source : Bank of Indonesia, Statistics Indonesia, World Bank

Indonesia ranks fourth as the most prospective country for Indonesia : TOP 3 destinations for investors (The Economist survey 2017) invesment for 2017-2019 (UNCTAD business survey)

45 INDONESIA PROPERTY SECTOR HAS ROOM TO GROW

ASIA PACIFIC PROPERTY . Rapid urbanisation . Growing middle–class RENTAL YIELD . Strong savings and income growth . Low mortgage penetration INDONESIA 8,61% . Property as investment PHILLIPINES 6,13% . Improving regulatory environment . Banking innovation THAILAND 5,13% . Low property prices in the region MALAYSIA 4,53% . Highest yields in the region HONGKONG 2,75%

SINGAPORE 2,54% PRICE PER SQM/ GDP PER CAPITA

PHILLIPINES 138,04 PROPERTY PRICE (USD/SQM)

INDONESIA 85,93 HONGKONG 25.551

THAILAND 68,83 SINGAPORE 13.748

HONGKONG 60,41 THAILAND 3.952

SINGAPORE 25,99 PHILLIPINES 3.952

MALAYSIA 19,23 INDONESIA 2.889

MALAYSIA 1.827 Source: Global Property Guide 46 PROPERTY FOREIGN OWNERSHIP

LAND TITLES AVAILABLE : 1. Freehold : may be held by Indonesian citizens only (not even by fully Indonesian- owned companies). 2. Right to Build (renewable leasehold) : may be held by Indonesian citizens and any company established in Indonesia for an initial 30 years. 3. Right to Use (renewable leasehold) : may be held by Indonesian citizens, any company and foreigner residence in Indonesia for an initial 30 years, extendable for another 20 years and renewable for another 30 years OPTIONS FOR FOREIGN OWNERSHIP : 1. Foreign residence in Indonesia can purchase property in own name under Right to Use title under Government Regulation no 103/2015 dated on 22 December 2015 and further reinforced by The Ministry of Agricultural and Spatial Planning /National Land Agency Regulation no 29/2016 dated on 19 Sept 2016 for certain minimum property value, which in Jakarta Province, a minimum Rp 10 bn for landed house and Rp 3 bn for condominium and subsequently much lower value for other areas. 2. Establish a company with approval for full or part foreign ownership (PMA company) to own the property. 3. Through Indonesian nominees, establish a locally owned company. 4. Use an Indonesian professional third party corporate nominee. 5. Private unregistered lease. 6. Establish a person to person arrangement with an Indonesian private individual who will personally own the property. 47 NEW LTV REGULATION AND LUXURY TAX

New LTV Regulation takes effect in Aug 2016: Property Type First Mortage Second Mortgage Third Mortgage Old New Old New Old New Landed House Land > 70 sqm 80% 85% 70% 80% 60% 75% Land 22-70 sqm - - 80% 85% 70% 80% Apartment Area > 70 sqm 80% 85% 70% 80% 60% 75% Area 22-70 sqm 90% 90% 80% 85% 70% 80% Area < 21 sqm - - 80% 85% 70% 80% Shophouse - - 80% 85% 70% 80%

Luxury Tax takes effect in Mar 2017:

Based on Ministry of Finance Regulation no 35 /PMK.010/2017 dated on March 1, 2017 Description Minimum Value Luxury Tax

Landed House or Town House non strata titled type Rp 20 billion 20%

Apartment or Town House strata titled type Rp 10 billion 20% 48 OVERVIEW OF JAKARTA’S CONDOMINIUM MARKET

Source : Q3’2017 Market Review for Jakarta Jones Lang LaSalle Research 49 OVERVIEW OF JAKARTA’S RETAIL MARKET

Source : Q3’2017 Market Review for Jakarta Jones Lang LaSalle Research 50 OVERVIEW OF JAKARTA’S OFFICE MARKET - CBD AREA

Source : Q3’ 2017 Market Review for Jakarta Jones Lang LaSalle Research 51 OVERVIEW OF JAKARTA’S OFFICE MARKET – non CBD AREA

Source : Q3 ‘2017 Market Review for Jakarta Jones Lang LaSalle Research 52 Indonesia - Severely Underserved Healthcare Market Beds and Doctors

Beds Doctors /1,000 OECD Average = 4.93 /1,000 OECD Average = 3.14 population population 3,50 238,373 beds 3,00 (1) 70,655 doctors 2,79 v. Global: Shortage of 229,491 beds (1) (1) v. Global: Shortage of 267,000 doctors v. OECD: Shortage of 977,189 beds (1) 2,95 v. OECD: Shortage of 718,086 doctors 3,00 2,84 2,84 Global Average = 3.0 2,50 2,31

2,50 2,00 2,16 1,77 2,01 2,00

Global Average = 1.4 1,48 1,63 1,50 and 1,26 Lack of 1,50 Qualified Beds… Doctors… 1,02 1,00 0,97 1,00 0,74

0,50 0,50 0,30 0,31

0,00 (2) 0,00 (2) Indo India MY TH SG UK US China TH Indo India MY China SG US UK

• Indonesia’s bed to population ratio way below • Doctor to population ratio also way below global global average average • Ample opportunity for private healthcare • Ability to attract and retain doctors and specialists operators to fill the supply gap is a critical success factor for hospitals

53 INDONESIA HEALTHCARE LANDSCAPE

Population Growth Primary Care Accessibility

Now = 240 Million 2040 = 360 Million Now = 8,300 2040 = 12,000

Universal Coverage Health Spend

USD 20 Bn USD 640 Bn 58% 100% Coverage Coverage

Now= 140 Million 2017 = 264 Million Now = 2.5% of GDP (USD 800 Bn) 2040 = 8% of GDP (USD 8Tr)

Changing Disease Pattern Morbidity Per Capita Spend

35% 55% 1st 10 Years Succeeding 20 Years 45% 65% USD 82 60% 40% USD 1,780

Now Infection Life-Style 2017 Now 2040

54 MARKET DRIVERS & RESTRAINTS IN INDONESIA’S HEALTHCARE SECTOR

MARKET DRIVERS

A large Longer life population expectancy The Universal base with a and a epidemiological health booming population transition has insurance 2015 economy, pyramid presented coverage would give more emerging increasing Indonesia’s 2010 middle class towards the healthcare sector people access and rising older with a double to healthcare affluent population burden services

Shortage of Quality of Lost of healthcare healthcare domestic professionals professional spending in education Indonesia due to high level of 2015 outbound medical tourism 2010

©2012 KPMG Services Pte. Ltd (Registration No. 200003956 G), a Singapore incorporated company & a member firm of the KPMG network of indpendent member firms affiliated with KPMG international MARKET RESTRAINTS cooperative (“KPMG International”), a Swiss entity. All rights reserved.

55 HOSPITALS IN INDONESIA

No OWNER 31 Dec 11 31 Dec 12 31 Dec 13 31 Dec 14 31 Dec 15 31 Dec 16 31 Dec 17

1 MOH 32 32 33 34 36 33 33 2 PROVINCE 85 89 96 98 113 120 136 GOVERNMENT 3 MUNICIPAL 86 88 92 93 98 97 97 GOVERNMENT 4 DISTRICT GOVERNMENT 411 444 455 463 469 480 497 5 ARMY / POLICE 134 155 159 170 170 167 171 6 OTHER MINISTRIES / 80 79 79 79 79 77 78 PUBLIC COMPANIES 7 PRIVATE 893 1,179 1,314 1,472 1,525 1,627 1,765 TOTAL 1,721 2,066 2,228 2,409 2,490 2,601 2,777

Source : Ministry of Health

56 COMPARISON HEALTH STATISTICS

Indonesia Vietnam Malaysia Singapore South Korea India China Australia USA UK Hospital beds per 10,000 pops 9 20 19 20 103 7 38 39 29 29 Physician per10,000 pops 2 12 12 20 21 7 19 33 25 28 Health Professionals per 10,000 pops 16 24 47 76 79 28 32 157 118 112 Life expectancy at birth (years) 69 76 75 83 82 68 76 83 79 81 NMR per 1,000 live birth 14 11 4 1 2 28 6 2 4 2 MMR per 100,000 live birth 126 54 40 10 11 174 27 6 14 9 % Government Expenditure 38 54 55 42 54 30 56 67 48 83 % Private Expenditure 62 46 45 58 46 70 44 33 52 17 Healthcare Spend as % of GDP 3 7 4 5 7 5 6 9 17 9 Per capita total expenditure on healthcare (USD) 299 391 1.040 4.047 2.531 267 731 4.357 9.403 3.377

Health Professional per 10,000 pops Total Healthcare spending as % of GDP USA 17,1% Australia 157,2 Australia 9,4% USA 117,8 UK UK 112,4 9,1% South Korea 79,0 South Korea 7,4% Singapore 75,6 Vietnam 7,1% Malaysia 46,8 China 5,5% China 31,5 Singapore 4,9% India 27,5 India 4,7% Vietnam 24,1 Malaysia 4,2% Indonesia 15,7 Indonesia 2,8%

Source : World Bank, WHO 2017 57 LIPPO KARAWACI’S MILESTONES

May August December Corporate Actions October November Non Pre- April Rp 2.2 tn equity deal 3rd Rights Issue August emptive Rights of which CVC invested of 4.32 bn new USD 100 mn bonds LMIRT was listed Issuance USD150 mn bonds 15% stake in SILO shares at issuance, at the rate Stock Split in SGX, sponsored of 1.45 bn new of 7% p.a. offered issuance, at the rate of and participated in by the Company Rp 550/share, 7% p.a. offered at par SILO right issue February 1 for 2 shares at at 105.25%, due Rp 660/share, due 2022 May 2019 August st March October 1 Rights Issue November June of 607.8 mn USD 270 mn March May March USD260 mn USD 250 mn USD425 mn shares at Total 1,055 mn bonds issuance, bonds issuance, bonds issuance, USD 150 mn bonds issuance, Initial Public Rp 500/share, warrants are fully at the rate of USD 125 mn LPKR placed 82.5 mn at the rate of 7% at the rate of bonds issuance, at the rate of Offering of issued & listed exercised, 9% p.a. bonds issuance, SILO shares or 7.1% of p.a. offered at 8.875% p.a. at the rate of 7% 6.75% p.a. due 30.8 mn on the JSX & generating total Issue price at the rate of 9% total shares outstanding 103.75%due issue price 100%, p.a. offered at 2026, to redeem shares SSX cash of Rp 923 bn 100%, p.a. offered at for total proceed of 2022, to redeem due 2011 due 2015 108%, due 2015 99.32%, due 2019 Rp 858bn 2019 bonds 2020 bonds

1996 1998 2005 2006 2007 2010 2011 2012 2013 2014 2015 2016 2017

January December November April January December USD 130 mn February October The settlement bonds LPKR placed 92.8 mn SILO completed its nd Stock Split 1 USD273.3 mn of the entire 2 Rights Issue The listing of issuance, at SILO shares or 8% of total second Rght Issues for 2.5 Debt Exchange balance of the of 881.9 mn First REIT on the rate of shares outstanding for total raising Rp 3.1 trillion at the rate of unsecured bond new shares at the SGX, 6.125% p.a. proceed of whereas LPKR 6.125% p.a. amounting to Rp 1,050/share offering 271.4 offered at Rp 1.14 trillion maintained 51.05% due 2020 USD mn units at 104.4%, due ownership and 119,229,000 at price of 2020 CVC increased to a price of SGD 0.71/unit 15.66% 104.5% September SILO successfully listed in IDX at Rp 9000/share, valuing Siloam at USD 1 billion 58 LIPPO KARAWACI’S MILESTONES

Corporate Developments July August January October May Launched January Launched Launched July Opened Px Pavilion at Launched St Moritz Holland Village Kemang Village, Holland Village St Moritz, as part of Panakukang, an integrated Second Phase Started a large scale Office Tower in Merger of 8 integrated development development in the city 190 condo Lippo integrated dev’t. Central Jakarta property- in West Jakarta center of Makassar Units in Village in South Jakarta June related Central Jakarta October Township companies, January January March August Started in October Launched November November Established Tanjung Property, Launched The Company formalised its 6 Launched Hillcrest House Launched Launched Irvine under the Bunga Healthcare & San Diego BU : Urban Devt, Large Scale Started Embarcedero, an and Faiview Embarcadero Suites as part of name Township Hospitality Hills Integrated, Healthcare, Retail Lippo integrated Tower as part Eastern Wing, CBD Meikarta, PT Tunggal business Memorial Malls, Hospitality & Infras, and Cikarang development in of Millenium 156 condo units a new CBD in Reksakencana Park Property & Portfolio Mgmt. Township Bintaro, South Jakarta Village (new in South Jakarta Lippo Cikarang CBD in LV)

1990 1993 1997 2004 2007 2009 2014

2002 2005 2008 2012 2013 2015 2016 2017

March December November May September August August May June September Launched Launched rd Launched Holland Launched Launched Launched Launched Launched The Launched Holland Village, Pasadena 3 Village Manado Glendale Newport Meikarta, a city at Launched City of St.Moritz, a large Nine a large scale tower in CBD the landed house Park, the Park, the the heart of Lippo its first retail Tomorrow scale integrated Residence , integrated Meikarta, development in fifth tower sixth tower Cikarang that will strata-titled (CITO), its development in a large scale development in a new CBD in Manado, North in CBD in CBD be more beautiful project, and first large West Jakarta integrated Central Jakarta Lippo Cikarang Sulawesi Meikarta Meikarta than Jakarta followed by scale development 7 others integrated in North May October development December Kemang Launched Monaco June Launched Lippo in Surabaya Opening of Jakarta Bay the first Sold Burbank, Thamrin, an Pejaten integrated 4th tower in CBD Office Tower in Village, its first development in Meikarta to single CBD Jakarta leased mall, in Manado, North Japanese South Jakarta Sulawesi investor 59 LATEST AWARDS

Lippo received Lippo Karawaci received Lippo Karawaci received Lippo Cikarang received Siloam received Lippo Cikarang received Certificate of Appreciation as a Certificate of Appreciation Top 50 of the biggest market , Indonesian music 2017 Indonesia Hospitals Top 50 of mid market donor institution and partner in In honors to be one of capitalization public instrument as sign of of the Year capitalization public improving access and quality to the TOP 5 GCG Issues listed companies Appreciation from tax office (from Frost and Sullivan) listed companies higher in Property Sector (from Indonesian Institute for (from Indonesian Institute for (from Ministry of Research, KPP Pratama Cikarang for (from Warta Ekonomi magazine) Corporate Directorship) Corporate Directorship) Technology and Higher Education) Meikarta project tax payment 2017

Lippo Cikarang received Lippo Cikarang received two Property Indonesia Award Property Innovation Awards 2017 Siloam received for CBD Meikarta Lippo Karawaci received 2017 for the category “The Lippo Karawaci received Lippo Cikarang received Two for the category “The Best Ceritificate of Appreciation Commended Integrated Golden Property awards 2017 Golden Property awards 2017 2017 Brand Asia for Innovation in Property Product for Meikarta for the Most Industrial Estate” as “Best Public Listed as “Best Townshiop Development Top 2 Most Powerful Concept and in Smart Living Innovative Marcom Company (from Propoerty Indonesia Property Company” Project” and “Breakthrough Healthcare Brand in Home” (from Property-in Indonesia (from magazine) (from Warta Ekonomi magazine) (from Indonesia Property Watch) Phenomenal Marketing magazine) Campaign for Meikarta (from MarkPlus Inc and Nikkei Indonesia Property Watch) BP Consulting Inc) 60 SHARE PRICE PERFORMANCE

Closing Price (Rp) Volume (Shares)

1.800 1.400.000.000 1.700 1.600 1.500 1.200.000.000 1.400 1.300 1.000.000.000 1.200 1.100 1.000 800.000.000 900 800 600.000.000 700 600 500 400.000.000 400 300 200 200.000.000 100 - - Jan-10 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 (LPKR.JK ; LPKR IJ)

Average Daily Trading Value Jan’17 – Dec’17 (in USD) Market Cap as of 31 Dec 2017 in Comparison with Peers 8.000.000 (in USDmn) 7.000.000 2.435 2.415 6.000.000 5.000.000 1.623 4.000.000 3.000.000 1.006 831 2.000.000 516 1.000.000 318 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Lippo Bumi Serpong Ciputra Summarecon Alam Sutra Agung 17 17 17 17 17 17 17 17 17 17 17 17 Karawaci Damai Development Agung Podomoro

Source : 61 TOP 20 LISTED COMPANIES BY TRADING VALUE

INDONESIA STOCK EXCHANGE Jan - Des 2017 IDX QUARTERLY STATISTICS, 4th QUARTER 2017 (Cumulative Data) 25 20 Most Activ e Stocks by Trading Value Total Trading Trading No. Listed Stocks Volume Value (IDR) % Freq. (x) Days 1, Tbk. 7.238.232.319 130.260.950.617.113 7,20 1.072.690 238 2, Telekomunikasi Indonesia (Persero) Tbk. [S] 27.163.640.995 116.545.792.001.397 6,44 1.534.017 238 3, Bank Raky at Indonesia (Persero) Tbk. 8.403.925.623 78.362.702.735.735 4,33 1.031.501 238 4, Tbk. [S] 9.111.699.942 73.478.147.292.035 4,06 885.246 238 5, (Persero) Tbk. 7.384.678.427 70.528.769.726.522 3,90 779.912 238 6, Bumi Resources Tbk. 157.590.777.051 52.438.389.826.856 2,90 2.138.303 238 7, Hanson International Tbk. [S] 350.237.467.409 43.683.460.284.306 2,41 460.204 238 8, (Persero) Tbk. 5.998.974.832 41.711.474.694.601 2,31 748.007 238 9, United Tractors Tbk. [S] 1.099.589.754 31.013.973.827.006 1,71 910.233 238 10, Sri Rejeki Isman Tbk. 88.512.915.903 30.916.111.323.373 1,71 2.275.524 238 11, Matahari Department Store Tbk. [S] 2.358.263.778 29.147.008.443.756 1,61 857.961 238 12, Inti Agri Resources Tbk. [S] 84.851.002.582 26.081.023.839.591 1,44 91.153 238 13, Unilev er Indonesia Tbk. [S] 505.415.016 23.812.794.160.054 1,32 560.878 238 14, (Persero) Tbk. [S] 11.717.351.884 23.633.374.749.087 1,31 1.045.907 238 15, Indonesia Tbk. 2.969.440.550 21.397.680.284.202 1,18 311.193 238 16, Chandra Asri Petrochemical Tbk. [S] 1.237.625.362 21.248.486.574.228 1,17 258.663 238 17, Rimo International Lestari Tbk. [S] 99.626.398.707 21.144.496.140.967 1,17 571.526 194 18, HM Sampoerna Tbk. 5.043.015.929 19.823.561.819.250 1,10 692.045 238 19, Indof ood Sukses Makmur Tbk. [S] 2.387.401.751 19.706.659.752.408 1,09 536.760 238 20, Lippo Karawaci Tbk. [S] 27.134.324.293 19.527.669.922.309 1,08 633.381 238 Source : IDX 62 INVESTOR RELATIONS

William Wijaya Utama (Senior Manager) email :[email protected]

Address : Menara Matahari, 22nd Floor 7 Boulevard Palem Raya Lippo Village Tangerang 15811 Banten – Indonesia telp.+62 21 25669000 fax. +62 21 25669098 website : www.lippokarawaci.co.id

63 DISCLAIMER

This presentation has been prepared by PT Lippo Karawaci Tbk (“LPKR”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPKR. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this presentation and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise.

Forward-Looking Statements The information communicated in this presentation contains certain statements that are or may be forward looking. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for LPKR’s developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; LPKR’s ability to be and remain competitive; LPKR’s financial condition, business strategy as well as the plans and objectives of LPKR’s management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although LPKR believes that the expectations of its management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and LPKR undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.