Right Place, Right Time, Right Company

PT Lippo Karawaci Tbk Q1 2015 ’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 - 28

FINANCIAL PERFORMANCE 29 - 34

APPENDICES 35 - 54 CORPORATE STRUCTURE

LIPPO RELATED COMPANIES PUBLIC 25.40% 74.60%

As of 31 Mar 2015 No. of Outstanding Shares : 23,077,689,619 Code : LPKR.JK ; LPKR IJ

DEVELOPMENT REVENUE RECURRING REVENUE

ASSET TOWNSHIPS LARGE INDUSTRIAL OFFICE HOSPITALS COMMERCIAL MANAGEMENT SCALE AND PROJECTS INTEGRATED COMMERCIAL DVPT PROPERTIES • Siloam • Retail Malls • REIT, Mall & Hospitals Hotel • Aryaduta Hotels Management

• Town Management Services, Leisure and Restaurants

01 LARGEST & MOST INTEGRATED PROPERTY COMPANY

Largest listed property Company by Revenue and Total Assets. Revenue and Total Assets for Q1’2015: USD187 million and USD 3 billion, respectively.

Fastest growing Indonesian real estate group market cap grew by more than 10x to USD 2.4 billion1 since the merger of eight property related companies in 2004. Market leader in townships & residential property, 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 (BB- by Standard & Poor’s2 , BB- by Fitch3, Ba3 by Moody’s 4)

Included in MSCI Global Standard Indices & major Indonesia Stock Exchange Indices: LQ45,IDX30, Islamic Index, Bisnis-27, Kompas-100, ISSI, MNC-36, and Investor-33.

Strong International Partners and Shareholders.

Multi Award winning Developer.

1As of March 31, 2015 2Affirmed on March 3, 2015 3Affirmed on April 1, 2015 4Affirmed on April 29, 2015

02 FOUR BUSINESS DIVISIONS

RESIDENTIAL AND ASSET URBAN DEVELOPMENT HOSPITALS COMMERCIAL MANAGEMENT

Development rights: 20 hospitals with more Malls: Manages 2 public than 4,700 beds capacity listed REITs in SGX : 8,058 ha Own and/or manage under the Siloam 41 malls First REIT & LMIRT Hospitals network. (GFA of 3.1 million sqm) Land already acquired: 46 hospitals in the 15 malls in the pipeline USD2.2 billion Assets 4,855 ha pipeline (Target: 50 Under Management hospitals and 10,000 beds capacity by 2017) Hotels: Landbank Inventory: Own and/or manage 1,279 ha 8 hotels with 1,664 National and rooms International (JCI) accreditation 10 upscale hotels and 40 midscale hotels in the pipeline

03 REVENUE & EBITDA CONTRIBUTION

REVENUE EBITDA Q1’15: Rp2.447 Trillion Q1’15: Rp736 Billion

21% 40% 47% 9% 63% 7% 7% 6%

Residential & Urban Development Commercial Hospitals Asset Management

Source : Company as of Q1’2015 04 INCOME STATEMENTS : Q1’2015 AND Q1’2014

REVENUE Q1’15: RP 2,447 TRILLION 22% EBITDA Q1’15: RP 736 BILLION 23% REVENUE Q1’14: RP 1,998 TRILLION EBITDA Q1’14: RP 596 BILLION Rp bn Rp bn 1.400 1.160 1.200 500 461 951 976 450 1.000 400 359 350 800 751 300 600 250

200 156 400 150 110 176 100 65 74 200 135 145 151 54 53 50 - - - Residential & - Healthcare - Commercial - Asset Management - Residential & - Healthcare - Commercial - Asset Management Urban Development Urban Development

NPAT Q1’15: RP417 BILLION 23% Source : Company as of Q1’2015 NPAT Q1’14: RP339 BILLION 05 DIVERSIFIED LANDBANK AND PROJECTS

INDONESIA

Grand Palladium 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 Balikpapan

KALIMANTAN SULAWESI MALUKU Siloam Hospitals Jambi PAPUA Palembang Square St Moritz Panakukang PSx Mall Lippo Plaza Buton Siloam Hospitals Palembang Projects in Greater Jakarta Aryaduta Hotel Palembang Palembang Icon Mall Siloam in Greater Jakarta (8) Tanjung Bunga Township Malang Town Square Siloam Hospitals Indah Plaza JAVA GTC Makassar Istana Plaza Siloam Hospitals Purwakarta Lippo Plaza Kupang City of Tomorrow, Siloam Hospitals Surabaya Siloam Hospitals Kupang Siloam Hospitals Nusa Dua, Kuta, Sunset (Bali) Residential & Urban Development Lippo Plaza Sunset Hospitals Lippo Mall Kuta Retail Malls Hotels

06 DIVERSIFIED LANDBANK AND PROJECTS

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

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 Lippo Village Township Aryaduta Hotel Semanggi Benton Junction Embarcadero Bintaro Grand Mall Bekasi Millenium Village (LV new CBD) Blu Plaza Bekasi Siloam Hospitals Lippo Village Kemang Village Siloam General Hospitals Lippo Mall Kemang The Nine Residence Aryaduta Hotel & Country Club WTC Matahari San Diego Hills Memorial Park Royal Serpong Village Kramat Jati Indah Plaza Lippo Cikarang Township Siloam Hospitals TB Simatupang Orange County (LC new CBD) BANTEN Siloam Hospitals Cinere Tamini Square Siloam Hospitals Lippo Cikarang PROVINCE Siloam Hospitals Asri EAST Lippo Cikarang Mall JAKARTA Lippo Maxxbox Cikarang 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 Mall TOLL ROAD Park View Apartments 1Indonesia Central Statistic Bureau 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 Tanri Abeng Farid Harianto H. Sutiyoso Muladi Viven Sitiabudi Chairman Vice Chairman BOARD OF DIRECTORS:

Ketut Budi Wijaya Tjokro Libianto Johanes Jany President Director Stephen Choo Jenny Kuistono Rahmawaty Ninik Nathan Alwi Sjaaf

SENIOR EXECUTIVES BUSINESS UNITS:

Romeo Lledo MC Loh Ivan Budiono 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. other types of property innovative medical packages developments, i.e. office. that meet the needs of our HOTELS growing middle class. Increase market share and 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

LIPPO VILLAGE AT KARAWACI, JAKARTA WEST

Artist Impression Total Area Development Area Green Area Development Rights Land already acquired Landbank inventory 132 ha 71 ha 125 ha 3,066 ha 1,184 ha 284 ha Planned Development Development Period Residential Total Towers Built > 70 3 Phase Population Jobs Houses > 9,871 Est. Building GFA > 6 mn sqm > 58,422 48,600 Condos > 1,120 - Residential > 2 mn sqm Shophouses > 1,190 - Medical City > 400,000 sqm - Commercial (Retail +Office)> 600,000 sqm - Mixed Use > 3 mn sqm 113.5 km roads built, 56,850 trees planted, 21% green space Lippo Hotels > Five Star & Boutique Hotel Art District, Lippo World Expo, ZU Private Club, Lippo Grand Mall 11 RESIDENTIAL & URBAN DEVELOPMENT

LIPPO CIKARANG, JAKARTA EAST

Artist Impression Landbank inventory Development Rights Land already acquired Total Area Development Area Open Area 159 ha Residential 887 ha 981 ha 280 ha 236 ha 44 ha Industrial 2,364 ha 1,776 ha 289 ha Planned Development Development Period Workers Residential Population Total Towers Built > 50 3 Phase 400,000 Houses > 14,000 > 46,200 Est. Building GFA > 6 mn sqm Condos > 184 - Residential > 1.8 mn sqm Shophouses > 974 Global Names : - Commercial (Office & Retail) > 520,000 sqm Toyota Tsusho, - Mixed Use > 3.7 mn sqm Industrial No. of Factories Hankook, Danone, Lippo Hotels > Five Star & Boutique Hotel > 820 Epson, Sanyo, KIA Motors Siloam Hospitals, University, School, Lippo Mall, Offices 12 180 km roads built, and 91,451 trees planted, 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 644 ha 301 ha 500 ha 125 ha 93 ha (+ 14 ha family center & lake} Residential Population Jobs Houses > 6,136 Plot Sold > 12,390 12,117 Shophouses > 172 37,300

27 km roads built, and 7,136 trees planted,

13 A LANDMARK PROJECT – SOUTH JAKARTA

THE COSMOPOLITAN

THE INFINITY SOLD (AS OF 31 MARCH 2015) THE BLOOMINGTON THE THE THE RITZ THE EMPIRE INTERCON COSMOPOLITAN THE TIFFANY 98% 97% 97% Rp 438 bio Rp 388 bio Rp 338 bio THE RITZ 100% completion 100% completion 100% completion

THE EMPIRE THE TIFFANY THE INFINITY THE INTERCON

JW MARRIOTT HOTEL 100% 100% 100%

International Rp 599 bio Rp 386 bio Rp 354 bio School 100% completion 100% completion 100% completion

THE BLOOMINGTON PAYMENT PROFILE LIPPO MALL KEMANG

91% Cash 29% Rp 915 bio Mortgage 52% 12-36 Monthly Installment 19% Construction Progress as at 31 Dec 2013 90% completion

14 TOTAL LAND AREA : 11.4 Ha

PRESIDENTIAL SUITE SOLD (AS OF 31 MARCH 2015) (140 units) ROYAL AMBASSADOR SUITE SUITE NEW ROYAL (144 units) (231 units) SUITE PRESIDENTIAL AMBASSADOR (197 units) ROYAL SUITES NEW PRESIDENTIAL SUITES SUITES SUITE (159 units) 96% 94% 97% Rp 420 bio Rp 317 bio Rp 307 bio

New AMBASSADOR SUITE 100% completion 100% completion 100% completion (171 units) NEW NEW NEW ROYAL PRESIDENTIAL AMBASSADOR SUITES Hotel & SUITES SUITES Offices 84% 90% 98% Rp 563 bio Rp 498 bio Rp 357 bio

80% completion 80% completion 100% completion

PAYMENT PROFILE

LIPPO MALL Cash 28 % PURI Mortgage 49 % Construction Progress as at 31 Dec 2014 12-36 Monthly Installment 23 %

15 PROJECTS LAUNCHED IN 1H’ 2014

ST. MORITZ EMBARCADERO BINTARO OFFICE TOWER AT PANAKUKANG WESTERN WING HOLLAND VILLAGE

Type : Apartments Type : Apartments Type : Office Tower Location : CBD Makassar Location : South Jakarta Location : Launched : 18 Jan 2014 Launched : 8 Mar 2014 Launched : 9 May 2014 SGA sold : 10,838 sqm SGA sold : 16,290 sqm SGA sold : 16,341 sqm Total no of unit : 300 Total no of unit : 400 Number of floor : 18 ASP : Rp 18 mn/sqm ASP : Rp 19 mn/sqm ASP : Rp 22 mn /sqm Pre-sold : Rp 213 Bn [75%] Pre-sold : Rp 324 Bn (83%) Pre-sold : Rp 362 Bn [78%] Payment Profile Payment Profile Payment Profile on launched date on launched date on launched date Cash 23% Cash 13% Cash 5% Mortgage 1% Mortgage 18% Mortgage 80% Installment 76% Installment 69% Installment 15% 16 PROJECTS LAUNCHED IN 2H’ 2014

HILLCREST+ FAIRVIEW HOLLAND VILLAGE EMBARCADERO BINTARO IRVINE + WESTWOOD LIPPO VILLAGE SECOND PHASE EASTERN WING LIPPO CIKARANG

Type : Apartments Type : Apartments Type : Apartments Type : Apartments Location : Tangerang Location : Central Jakarta Location : South Jakarta Location : Cikarang, West Java Launched : 23 Aug 2014 Launched : 4 Oct 2014 Launched : 8 Nov 2014 Launched : 29 Nov 2014 SGA sold : 37,469 sqm SGA sold : 18,779 sqm SGA sold : 7,249 sqm SGA sold : 46,222 sqm Total no of Units : 239 (H) + 65 (F) Total no of unit : 190 Total no of unit : 156 Total no of unit : 817 ASP : Rp 21 mn /sqm ASP : Rp 27 mn/sqm ASP : Rp 21 mn/sqm ASP : Rp 14 mn/sqm Pre-sold : H: Rp 641 Bn (90%) Pre-sold : Rp 504 Bn (90%) Pre-sold : Rp 155 Bn (91%) Pre-sold : Rp 739 Bn (100%) F: Rp 189 Bn (100%)

Payment Profile Payment Profile Payment Profile Payment Profile on launched date on launched date on launched date on launched date Cash 8% Cash 6% Cash 6% Cash 7% Mortgage 9% Mortgage 14% Mortgage 4% Mortgage 3% 17 Installment 83% Installment 80% Installment 90% Installment 90% PROJECTS LAUNCH IN 1H’ 2015

PASADENA SUITES MONACO BAY HOLLAND VILLAGE ORANGE COUNTY, LC MANADO, NORTH SULAWESI MANADO, NORTH SULAWESI

Type : Apartments Type : Apartments Type : Landed Houses Location : Cikarang, West Java Location : Manado, North Sulawesi Location : Manado, North Sulawesi Launched : 7 March 2015 Launched : 9 May 2015 Launched : 6 June 2015 SGA sold : 26,609 sqm SGA sold : 12,325 sqm Land Area : 11,6 ha Total no of unit : 419 Total no module : 330 Total no module : 505 ASP : Rp 16 mn/sqm ASP : Rp 17 mn/sqm ASP : Rp 4.6 mn/sqm Pre-sold : Rp 422 Bn [100%] Pre-sold : Rp 208 Bn [85%] Pre-sold : Rp 372 bn (83%) Payment Profile Payment Profile Payment Profile on launched date on launched date on launched date Cash 17% Cash 7% Cash 2% Mortgage 6% Mortgage 39% Mortgage 70% 18 Installment 77% Installment 54% Installment 28% PRE-SOLD PROJECTS UNDER CONSTRUCTION

OFFICE TOWER THE NINE PARK VIEW HOLLAND LIPPO THAMRIN AT THE ST. MORITZ RESIDENCE APARTMENTS VILLAGE

Type : Office Tower Type : Apartments Type : Apartments Type : Apartments Type : Office Tower Location : West Jakarta Location : South Jakarta [2 towers] Location : Central Jakarta Location : CentralJakarta GFA : 20,280 sqm Launched : 4 August 2012 Location : Depok Launched : 18 May 2013 Launched : 24-25 Oct 2013 Number of floor : 13 Land area : 0.9 Ha Launched : 2011 Land area : 4 Ha GFA : 13,055 sqm ASP : Rp 20 mn/sqm Number of unit : 352 Number of units : 839 Number of units : 240 Number of floor : 13 Pre-sold : Rp 295 Bn ASP : Rp 18 mn/sqm ASP : Rp 9 mn/sqm ASP : Rp 20 mn/sqm ASP : Rp 47.5m /sqm [90%] Pre-sold : Rp 251 Bn Pre-sold : Rp 247 Bn Pre-sold : Rp 510 Bn Pre-sold : Rp 619 Bn [100%] [100%] [100%] [100%]

19 22 PREMIER HOSPITAL GROUP MATURE AND DEVELOPING HOSPITALS

SILOAM HOSPITALS LIPPO VILLAGE MRCCC SILOAM SEMANGGI TANGERANG (West of Jakarta) SOUTH JAKARTA 308 Bed Capacity JCIA 334 Bed Capacity 232 GP and Specialists 168 GP and Specialists 442 Nurses 208 Nurses Centre of Excellence : Cardiology, Centre of Excellence : Cancer, Liver & Neuroscience, Orthopedics & Emergency Emergency

SILOAM HOSPITALS KEBON JERUK WEST JAKARTA 285 Bed Capacity 208 GP and Specialists 337 Nurses Centre of Excellence : Urology, Orthopaedic, Cardiology & Emergency SILOAM HOSPITALS JAMBI SILOAM HOSPITALS SURABAYA EAST SUMATERA EAST JAVA 100 Bed Capacity 162 Bed Capacity 69 GP and Specialists 145 GP and Specialists 122 Nurses 255 Nurses Centre of Excellence : Emergency Centre of Excellence : Fertility Treatment, Cardiology & Emergency 83.0% Ownership SILOAM HOSPITALS CIKARANG SILOAM HOSPITALS BALIKPAPAN BEKASI (East of Jakarta) EAST KALIMANTAN 119 Bed Capacity 232 Bed Capacity 91 GP and Specialists 106 GP and Specialists 164 Nurses 139 Nurses Centre of Excellence : Occupational Health & Centre of Excellence : Orthopedics & Emergency Emergency 79.45% Ownership

20 23 PREMIER HOSPITAL GROUP NEW HOSPITALS IN 2012

SILOAM GENERAL HOSPITAL (RSUS) SILOAM HOSPITALS CINERE TANGERANG (West of Jakarta) DEPOK (South of Jakarta) 640 Bed Capacity 50 Bed Capacity 52 GP and Specialists 16 GP and Specialists 252 Nurses 44 Nurses Centre of Excellence : Emergency Centre of Excellence: Cardiology

SILOAM HOSPITALS MANADO NORTH SULAWESI 230 Bed Capacity 97 GP and Specialists 174 Nurses 80.0% Ownership Centre of Excellence : Emergency

SILOAM HOSPITALS MAKASSAR SILOAM HOSPITALS PALEMBANG SOUTH SULAWESI SOUTH SUMATERA 360 Bed Capacity 357 Bed Capacity 101 GP and Specialists 136 GP and Specialists 217 Nurses 177 Nurses Centre of Excellence : Cardiology, Centre of Excellence : Gastroenterology & Endocrinology & Emergency Emergency

21 24 PREMIER HOSPITAL GROUP NEW HOSPITALS IN 2013

SILOAM HOSPITALS BALI BIMC KUTA BALI BALI 281 Bed Capacity 23 Bed Capacity 112 GP and Specialists 51 GP and Specialists 159 Nurses 61 Nurses Centre of Excellence : Treatment for tourists, Centre of Excellence : Treatment for tourists & Orthopedics, Cardiology & Emergency Emergency

SILOAM HOSPITALS TB SIMATUPANG BIMC NUSA DUA SOUTH JAKARTA BALI 269 Bed Capacity 26 Bed Capacity 118 GP and Specialists 57 GP and Specialists 122 Nurses 69 Nurses Centre of Excellence : Cardiology, Oncology, Centre of Excellence : Cosmetic Surgery & Neuroscience & Emergency Emergency

22 25 PREMIER HOSPITAL GROUP NEW HOSPITALS IN 2014

SILOAM HOSPITALS PURWAKARTA SILOAM HOSPITALS KUPANG WEST JAVA EAST NUSA TENGGARA 202 Bed Capacity 405 Bed Capacity 45 GP and Specialists 38 GP and Specialists 152 Nurses 114 Nurses Centre of Excellence : Emergency Centre of Excellence : Emergency

SILOAM HOSPITALS ASRI SILOAM HOSPITALS MEDAN SOUTH JAKARTA NORTH SUMATERA 43 Bed Capacity 350 Bed Capacity 90 GP and Specialists 66 GP and Specialists 74 Nurses 86 Nurses Centre of Excellence : Urology Centre of Excellence : Emergency & Trauma

There are currently 46 sites under various stages of development

23 DOMINANT POSITION IN RETAIL DEVELOPMENT & PROPERTY MANAGEMENT MANAGES 41 MALLS THROUGHOUT INDONESIA . 3.1 million sqm GFA . As of Mar 31, 2015 : Overall average occupancy 82% and 93% in LMIRT properties

PX PAVILLION LIPPO MALL KUTA LIPPO MALL PURI MAXXBOX CIKARANG NEW MALLS IN THE PIPELINE:

LIPPO PLAZA KUPANG LIPPO PLAZA BUTON

MAXXBOX KARAWACI LIPPO PLAZA MAMPANG

24 MANAGES 8 HOTELS THROUGHOUT INDONESIA . Pipeline: 10 upscale hotels and 40 midscale hotels . As of Mar 31, 2015 : Overall average occupancy 65%

HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA LIPPO VILAGE (192 rooms) JAKARTA (302 rooms) MEDAN (198 rooms) PEKANBARU (158 rooms) MANADO (146 rooms)

HOTELS UNDER ARYADUTA MANAGEMENT :

HOTEL ARYADUTA HOTEL ARYADUTA HOTEL ARYADUTA SEMANGGI (274 rooms) MAKASSAR (224 rooms) PALEMBANG (170 rooms) 25 ASSET MANAGEMENT UNIQUE FOR AN INDONESIAN PROPERTY COMPANY

100% 100% 100% 100%

BOWSPRIT LMIR TRUST PT LIPPO MALLS PT ARYADUTA CAPITAL MANAGEMENT INDONESIA INTERNATIONAL CORPORATION 33.50% LTD 29.56% MANAGEMENT LTD

MALL HOTEL Code : FIRT REIT MANAGER REIT MANAGER Code : LMRT MANAGEMENT OPERATOR SERVICES

Management Fee Management Fee Management Fee Fees -Base fee : -Base fee : - 2% p.a. of the gross Fees consists among 0.4% p.a. of the value of the Deposited Property. 0.25% p.a. of the value of the Deposited revenue of the retail malls. others Management Fee -Performance fee : Property. - 2% p.a. of the Net and Incentive Fee which 5.0% p.a. of the Net Property Income. -Performance fee : Property Income of the computed based on 4.0% p.a. of the Net Property Income. retail malls. certain percentage from -Investment & Divestment fee. Revenue and GOP, -Investment & Divestment fee. - 0.5% p.a. of the retail respectively. malls in lieu of leasing commission.

As of 31 March 2015 IN SINGAPORE IN INDONESIA

26 Managed by Bowsprit Capital Corporation Limited, First REIT’s portfolio consists of 16 properties located in Indonesia, Singapore and South Korea . Manages 11 Siloam Hospitals and 2 Aryaduta Hotels in Indonesia . As of Mar 31, 2015 : DPU : 2.06 cents

Share Price (SGD) Portfolio Size (SGD mn) Dividend Yield (%)

1,6 1.400 10,0 9,4 9,2 1,400 9,0 1,4 1.200 1.172 1.172 1,255 1.052 8,0 1,2 7,1 6,8 1,060 1,060 1.000 7,0 6,4 1 6,0 797 6,0 800 0,8 0,765 5,0 0,705 613 618 600 4,0 0,6

400 3,0 0,4 2,0 0,2 200 1,0

0 - 0,0 2010 2011 2012 2013 2014 1Q15 2010 2011 2012 2013 2014 1Q15 2010 2011 2012 2013 2014 1Q15

27 MANAGES 17 RETAIL MALLS THROUGHOUT INDONESIA . NLA : 765,273 sqm . As of Mar 31, 2015 : DPU: 0.79 cents

Share Price (SGD) Portfolio Size (SGD mn) Dividend Yield (%) 0,6 2000 10,0 1841 1817 9,2 0,53 1800 1753 9,0 0,51 8,4 0,49 8,1 0,5 7,83 1600 1545 8,0 7,5 0,42 1412 1400 7,0 0,4 6,0 0,34 0,345 1200 6,0 1082

0,3 1000 5,0

800 4,0 0,2 600 3,0

400 2,0 0,1 200 1,0

0 0 0,0 2010 2011 2012 2013 2014 1Q15 2010 2011 2012 2013 2014 1Q15 2010 2011 2012 2013 2014 1Q15

28 FINANCIAL PERFORMANCE STRONG FINANCIAL PERFORMANCE

TOTAL REVENUE EBITDA NET PROFIT AFTER TAX (RP TRILLION) (RP BILLION) (RP BILLION)

11.62 3) 2,547 2) 11.66 2) 3,632 2) 3,326 3) 2,166 3) 0,6 252 3,37 222 1.383 1.215

6.16 1) 1,6861) 1,060 1) 0,88 11,02 365 3.074 1.944 8,28 358 2.225 6,66 1.332 5,28 1.801 1.228 4,19 1.321 1.083 708 702 2,45 736 417

2011 2012 2013 2014 Q1 2015P 2011 2012 2013 2014 Q1 2015P 2011 2012 2013 2014 Q1 2015 2015P 2015 2015 1) FY 2012 includes Revenue, EBITDA, and Extraordinary Net Income After Tax amounting to Rp879M, Rp 365 M and Rp 358M respectively 2) FY 2014 includes Revenue, EBITDA and Extraordinary Net Income After Tax amounting to Rp 3.39T, Rp 1.38T and 1.21T respectively 3) FY 2015P includes Revenue, EBITDA and Extraordinary Net Income After Tax amounting to Rp 600M, Rp 252M and 222M respectively

Source : Company as of Q1’2015 30 BALANCE SHEET

AS OF 31 DECEMBER (Unless Otherwise Stated)

31 Mar Rp Billion 2014 2013 2012 2011 2015 TOTAL ASSET 39,641 37,761 31,300 24,869 18,259 TOTAL LIABILITIES 20,127 20,115 17,123 13,399 8,850 TOTAL EQUITY 17,368 15,605 12,801 10,656 8,834

TOTAL DEBT 10,332 9,997 7,808 6,014 3,753 CASH AND CASH EQUIVALENTS 3,445 3,529 1,855 3,337 2,175

D/E RATIO 0.6 0.6 0.6 0.6 0.4 NET GEARING RATIO 0.4 0.4 0.5 0.3 0.2

Source : Company as of Q1’2015 31 DEBT MATURITY PROFILE*

USD million Coupon rate Coupon rate Coupon rate 7% pa 6.125% pa 7% pa 450 403.3 400

350 130.0

300 252.2 250

200 250 273.3 150 250,00 100 150,00 50 0.25 0.88 2.2 0 2014 2015 2016 2019 2020 2022

Bank Pembangunan Daerah Kalimantan Timur Bonds Bank Central Asia * Bank Loans (except Bonds) are denominated in IDR 32 Source : Company as of Q1’2015 ATTRACTIVE ASSET VALUE

Ownership (%) Land Area (ha) Assets Value (Rp bn) URBAN DEVELOPMENT: Lippo Village 100 407 26.662 Lippo Cikarang 54,4 645 14.113 Tanjung Bunga 50,3 243 3.875 San Diego Hills 100 98 2.250 Micro Suburbs 100 20 297 SUB TOTAL1) 47.197 LARGE SCALE INTEGRATED DEVELOPMENT: City of Tomorrow (retail, apart, inv & hotel) 85 5 725 Kemang Village 92 7 1.831 St Moritz 100 11 6.910 14 New Projects 91 6.191 Others (land, retail space inv & other devt) 100 2.458 SUB TOTAL1) 18.115 RETAIL MALLS: 1 Appraised value as of 3 Malls 100 1.756 31 Dec 2014 by: Retail Space Inventory 100 673 - Rengganis Hamid & Partner (in stategic alliance with CB Richard SUB TOTAL2) 2.429 Ellis) & HOTELS: - Ihot, Dollar & Raymond (an independent member of Baker Tilly 2 Hotels FREIT 681 International) Hotels 100 1.674 2 Business Value : - Malls - 12.79% WACC SUB TOTAL2) 2.355 - Hotels - 13.06% WACC 3) REIT Units 5.938 3 HOSPITALS4) 78,9 10.968 As of 31 Mar 2015 ESTIMATED TOTAL ASSET VALUE 87.002 4 Market Cap as of 31 Mar 2015 3) Add: Cash 3.445 5 NAV/share = Rp 3,256 Less: Debt3) 10.332 Less: Advances from Customers3) 4.967 5) ESTIMATED NAV 75.148 33 PROPERTY MARKETING SALES

PROJECTS (in Rp Bn) 2011 2012 2013 Q1'14 2014 Q1'15 Budget 2015 Townships : Lippo Village 152 241 113 4 80 3 90 Lippo Cikarang* 1.301 2.061 1.698 175 1.505 483 1.500 Tanjung Bunga 303 577 433 53 357 38 400 San Diego Memorial Park 126 185 156 41 173 71 200 Sub Total 1.882 3.064 2.400 273 2.115 595 2.190 Condomininums : Kemang Village 495 747 310 6 6 - - Millenium Village (LV) - - - - 864 - 610 Orange County (LC) - - - - 386 793 1.000 St. Moritz (JKT) 444 555 136 40 191 9 200 Park View 222 17 11 - - - - Nine Residence - 182 67 3 4 0 - St. Moritz Makassar - - - 219 180 1 150 Embarcadero - - - 356 544 2 200 Holland Village - - 510 3 502 - 265 New Projects ------404 Sub Total 1.161 1.501 1.034 627 2.677 805 2.829 Offices : St Moritz Office (JKT) 124 100 52 - - - - Lippo Office Thamrin - - 619 - - - 398 Holland Village Office - - - - 388 - 225 New CBD Office (MV/OC) - - - - 358 Sub Total 124 100 671 - 388 - 981 Strata-titled Mall Inventory 11 18 11 2 5 - - Sub Total 11 18 11 2 5 - - Total Property Marketing Sales 3.178 4.683 4.116 902 5.185 1.400 6.000 Assets sold to the REITS - 2.077 1.482 0 3.330 - 600 Total Marketing Sales 3.178 6.760 5.598 902 8.515 1.400 6.600 Note : *Lippo Cikarang on FY14 includes JV DS-8 amounted to Rp 576 bn, Q1'15 amounted to Rp 234 bn and for FY2015 budgeted Rp 500 bn 34 APPENDICES

REGIONAL PRESENCE IN CHINA, HONG KONG, An Indonesian Business Leader SINGAPORE, PHILIPPINES, KOREA, MACAU Growing in Stewardship – Impacting Lives

INDONESIA

RETAIL EDUCATION

PROPERTY PT Matahari Putra Prima Tbk (MPPA.IJ) Yayasan Pelita Harapan PT Matahari Dept. Store Tbk (LPPF.IJ) PT Lippo Karawaci Tbk (LPKR.IJ) MEDIA

PT First Media Tbk (KBLV.IJ) HOSPITALS PT Berita Satu Media Holdings

PT Siloam International Hospitals Tbk TECHNOLOGY (SILO.IJ) PT Multipolar Technology Tbk (MLPT.IJ) PT Link Net Tbk (LINK.IJ)

FINANCIAL SERVICES

PT Lippo General Insurance Tbk (LPGI.IJ) PT Bank National Nobu Tbk (NOBU.IJ)

36 INDONESIA: ATTRACTIVE GROWING MARKET

Economic Indicators Size of Middle Class (in mn)

2015 2016 2014 Assumption Assumption

Economic Growth (%) 5.0 5.7 6.0-6.6

Inflation Rate (%) 8.36 5.0 3.0-5.0

Exchange Rate (Rp/USD) 12,440 12,500 12,900

3-month SBI Rate (%) 7.75 7.75 7.75

Oil Price (USD/bbl) 60 60 60-80

Lifting (k bbl/day) 798 825 830-850

Source : Bank of Indonesia, Statistics Indonesia, World Bank Indonesia : The Most attractive investment destination in ASEAN

Source : Indonesia Investment Coordinating Board 37 INDONESIA PROPERTY SECTOR HAS ROOM TO GROW

ASIA PACIFIC PROPERTY . Rapid urbanisation . Growing middle–class . Strong savings and income growth PROPERTY PRICE (USD/SQM) . Low mortgage penetration . Property as investment HONGKONG 22.814 . Improving regulatory environment SINGAPORE 15.251 . Banking innovation BANGKOK 3.638 . Property prices cheapest in the region . Highest yields in the region MANILA 3.156

KUALA LUMPUR 2.873

PRICE PER SQM/ GDP PER CAPITA JAKARTA 2.692

PHILLIPINE 113,08 RENTAL YIELD

INDONESIA 76,70 JAKARTA 8,90%

MANILA 7,51% THAILAND 64,09 BANGKOK 5,05% HONGKONG 60,11 KUALA LUMPUR 3,50%

SINGAPORE 27,64 SINGAPORE 2,83%

HONGKONG 2,82% MALAYSIA 27,47

Source: Global Property Guide 38 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 foreign citizens, for an initial 25 years.

OPTIONS FOR FOREIGN OWNERSHIP : 1. Establish a company with approval for full or part foreign ownership (PMA company) to own the property. 2. Purchase the property in your own name under Right to Use title. 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.

39 OVERVIEW OF JAKARTA’S CONDOMINIUM MARKET

Source : Q1’2015 Market Review for Jakarta Jones Lang LaSalle Research 40 OVERVIEW OF JAKARTA’S RETAIL MARKET

Source : Q1’2015 Market Review for Jakarta Jones Lang LaSalle Research 41 OVERVIEW OF JAKARTA’S OFFICE MARKET - CBD AREA

Source : Q1’ 2015 Market Review for Jakarta Jones Lang LaSalle Research 42 OVERVIEW OF JAKARTA’S OFFICE MARKET – non CBD AREA

Source : Q1 ‘2015 Market Review for Jakarta 43 Jones Lang LaSalle Research 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

44 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

45 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.

46 HOSPITALS IN INDONESIA

YEAR 2009 - 2015

No OWNER 31 Dec 09 31 Dec 10 31 Dec 11 31 Dec 12 31 Dec 13 31 Dec 14 30 Jun 15

1 MOH 31 31 32 32 33 34 34 2 PROVINCE 84 85 85 89 96 98 101 GOVERNMENT 3 MUNICIPAL 59 63 86 88 92 93 94 GOVERNMENT 4 DISTRICT GOVERNMENT 378 403 411 444 455 463 466 5 ARMY / POLICE 125 131 134 155 159 170 170 6 OTHER MINISTRIES / 78 79 80 79 79 79 79 PUBLIC COMPANIES 7 PRIVATE 768 840 893 1,179 1,314 1,472 1,487 TOTAL 1,523 1,632 1,721 2,066 2,228 2,409 2,431

Source : Ministry of Health

47 COMPARISON HEALTH STATISTICS

Indonesia Vietnam Malaysia Singapore South Korea India China Australia USA UK Hospital beds/ 10,000 9 20 19 20 103 7 38 39 29 29 Physician/10,000 2 12 12 20 21 7 15 33 25 28 Nurse & Midwife / 10,000 14 12 33 58 50 17 17 107 98 88 Life expectancy at birth (years) 71 76 74 83 82 66 75 83 79 81 IMR per 1,000 live birth 25 19 7 2 3 41 11 3 6 4 MMR per 100,000 live birth 190 49 29 6 27 190 32 6 28 8 % Government Expenditure 40 43 55 36 55 31 56 67 47 84 % Private Expenditure 60 57 45 64 45 70 44 33 53 16 Healthcare Spend as % of GDP 3 6 4 4 8 4 5 9 17 9 Per capita total expenditure on healthcare (USD) 273 292 894 3.215 2.244 196 578 3.855 8.845 3.235

Physicians per 10,000 pops Total Healthcare spending as % of GDP Australia 32,7 USA 17,0% UK 28,1 UK 9,3% USA 24,5 Australia 8,9% South… 21,4 South… 7,6% Singapore 19,5 Vietnam 6,0% China 14,9 China 5,4% Singapore 4,2% Malaysia 12,0 Malaysia 4,0% Vietnam 11,9 India 3,8% India 7,0 Indonesia 3,0% Indonesia 2,0

Source : WHO 2015 48 LIPPO KARAWACI’S MILESTONES

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

1990 1996 1998 2005 2006 2007 2010 2011 2012 2013 2014 2015

December November January February January December December USD 130 mn LPKR placed 92.8 mn 3rd Rights USD273.3 mn bonds issuance, SILO shares or 8% of 2nd Rights The listing of Stock Split Issue Debt at the rate of total shares outstanding Issue First REIT on 1 for 2.5 of 4.32 bn new Exchange at 6.125% p.a. for total proceed of of 881.9 mn the SGX, shares at the rate of offered at Rp 1.14 trillion new shares at offering 271.4 Rp 550/share, 6.125% p.a. 104.4%, due Rp mn units at price due 2020 2020 1,050/share of SGD 0.71/unit September SILO successfully listed in IDX at Rp 9000/share, valuing Siloam at USD 1 billion 49 LIPPO KARAWACI’S MILESTONES

Corporate Developments January August July May Launched St Moritz January Launched Holland Opened Px Pavilion at St Panakukang, an Launched Village Office Moritz, as part of integrated development Started July Kemang Village, Tower in Central integrated development in in the city center of Lippo a large scale Jakarta Village West Jakarta Makassar October September Merger of 8 integrated dev’t. Township property- in South Jakarta January March August October Launched related Established Launched Hillcrest its first retail companies, January under the The Company formalised its 6 Launched House and Faiview Started strata-titled in Property, name BU : Urban Devt, Large Scale Embarcedero, an Tower as part of Lippo project, and Healthcare & Launched San PT Tunggal Integrated, Healthcare, Retail integrated Millenium Village Cikarang followed by Hospitality Diego Hills Reksakencana Malls, Hospitality & Infras, and development in (new CBD in LV) Township 7 others business Memorial Park Property & Portfolio Mgmt. Bintaro, South Jakarta

1990 1993 2002 2004 2007 2009 2014 1997 2005 2008 2012 2013 2014 2015

August October March June September August May November June Launched Launched Launched Irvine Launched Launched Holland Launched Holland Village Pasadena 3rd Started Launched City Launched The Holland Village, Suites as part of Village Manado the Nine Second Phase tower in Orange Tanjung of Tomorrow St.Moritz, a large a large scale Orange County, landed house Residence , a 190 condo County, Bunga (CITO), its first scale integrated integrated a new CBD in development in large scale Units in a new CBD in Township large scale development in development in Lippo Cikarang Manado, North integrated West Jakarta integrated Central Jakarta Central Jakarta Lippo Cikarang Sulawesi development development November December in North October May in Surabaya Launched Opening of Kemang Launched Lippo Launched Monaco Embarcadero Pejaten Village, Jakarta Thamrin, an Bay the first Eastern Wing, its first leased Office Tower in integrated 156 condo units mall, in South CBD Jakarta development in in South Jakarta Jakarta Manado, North Sulawesi 50 LATEST AWARDS

Lippo Cikarang voted Siloam Hospitals received Lippo Karawaci received Lippo Karawaci received as one of Indonesia Hospitals Service Lippo Karawaci received Highly Commended Lippo Cikarang received Top Performing Listed The Region’s Top 200 Provider of the Year 2014 Top Ten Developer 2015 International Property Award Top Performing Listed Companies 2015 for Small and Midsize (from Frost & Sullivan) In Indonesia 2015 For Kemang Village, Embarcadero, Companies 2015 for Property and Const. Sector Companies (from BCI Asia) Millenium Village and Market Cap < IDR 10 trillion (from Investor Magazine) (from Forbes Asia) St Moritz Makassar (from Investor Magazine) (from Intl Property Media Ltd)

Lippo Karawaci received Lippo Karawaci received The 2014 Best Company Lippo Cikarang voted Bronze Champion Indonesia Siloam Hospitals received Siloam Hospitals received Lippo Karawaci included in For Leadership Property Wow Brand 2014 for Residential The European Awards for Asia Patient Safety Top 50 Publicly Listed Co’s in as one of Development in Indonesia Prop Devt (Asset > IDR 20 Trillion) Best Practices 2014 Award 2014 Indonesia in ASEAN Corporate Top 50 Companies (from IAIR Hongkong) (from Intl Congress on Governance Scorecard 2014 in Indonesia in 2014 (from Mark Plus Inc) (from European Society for Quality (from Forbes Indonesia) Research (ESQR)) Patient Safety in India) (from Asian Devt Bank ) 51 SHARE PRICE PERFORMANCE

Closing Price (Rp) Volume (Shares) 1.800 1.000.000.000 1.700 1.600 900.000.000 1.500 1.400 800.000.000 1.300 700.000.000 1.200 1.100 600.000.000 1.000 900 500.000.000 800 700 400.000.000 600 500 300.000.000 400 200.000.000 300 200 100.000.000 100 - - Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- 04 04 05 05 06 06 07 07 08 08 09 09 10 10 11 11 12 12 13 13 14 14 15 (LPKR.JK ; LPKR IJ)

Average Daily Trading Value Jul’14 – Jun’15 (in USD) Market Cap as of 30 Jun 2015 in Comparison with Peers 12.000.000 (in USDmn) 10.000.000 2.435 2.063 8.000.000 1.787 1.569 6.000.000 1.453

4.000.000 856 586 2.000.000

- Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Lippo Bumi Serpong Summarecon Pakuwon Jati Ciputra Alam Sutra Agung 14 14 14 14 14 14 15 15 15 15 15 15 Karawaci Damai Agung Development Podomoro

Source : Indonesia Stock Exchange 52 TOP 20 LISTED COMPANIES BY TRADING VALUE

Period : January – June 2015 50 Most Active Stocks by Trading Value

Total Trading Trading No. Listed Stocks Volume Value (Rp) % Freq. (X) Days 1, Bank Rakyat Indonesia (Persero) Tbk. 4.193.567.788 50.059.984.649.156 6,43 597.745 123 2, Bank Mandiri (Persero) Tbk. 3.573.449.579 39.841.171.596.489 5,12 450.202 123 3, Astra International Tbk. [S] 4.946.793.284 37.763.039.455.455 4,85 455.601 123 4, Telekomunikasi Indonesia (Persero) Tbk. [S] 12.911.233.332 36.843.280.713.234 4,73 654.471 123 5, Bank Central Asia Tbk. 1.968.822.674 27.454.180.964.969 3,53 439.526 123 6, Bank Negara Indonesia (Persero) Tbk. 3.672.039.612 23.677.608.708.640 3,04 435.055 123 7, Perusahaan Gas Negara (Persero) Tbk. [S] 4.445.264.595 21.461.678.895.590 2,76 566.662 123 8, Matahari Department Store Tbk. [S] 1.172.698.865 18.927.611.523.555 2,43 391.083 123 9, Sekaw an Intipratama Tbk. [S] 56.912.421.598 16.320.258.880.185 2,10 444.832 110 10, Indocement Tunggal Prakarsa Tbk. [S] 673.537.761 15.043.306.334.105 1,93 269.535 123

11, Golden Energy Mines Tbk. [S] 3.944.133.900 14.725.838.432.500 1,89 153 35 12, Semen Indonesia (Persero) Tbk. [S] 1.015.153.810 14.227.297.405.808 1,83 358.565 123 13, Saw it Sumbermas Sarana Tbk. [S] 6.946.249.900 13.409.680.033.597 1,72 523.943 123 14, Indofood Sukses Makmur Tbk. [S] 1.627.856.201 11.796.483.074.524 1,52 303.967 123 15, Matahari Putra Prima Tbk. [S] 2.977.253.470 11.341.795.472.668 1,46 281.165 123 16, Lippo Karawaci Tbk. [S] 9.527.377.719 11.114.403.169.062 1,43 290.321 123 17, Kalbe Farma Tbk. [S] 5.809.612.351 10.493.108.955.337 1,35 473.043 123 18, Summarecon Agung Tbk. [S] 5.625.887.794 10.066.761.157.829 1,29 420.036 123 19, Capitalinc Investment Tbk. 44.349.602.015 10.066.395.839.110 1,29 91.680 111 20, Pakuw on Jati Tbk. [S] 20.494.648.045 9.784.628.027.574 1,26 536.022 123 Source : IDX 53 INVESTOR RELATIONS

Mark Wong (Executive Director) 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

54 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.