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Jasa Marga Update 1Q2018

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Jasa Marga Update 1Q2018 Jasa Marga Update 1Q2018 as of March 31st, 2018 Company Overview Company overview Brief Snapshot Company highlights Leading toll road operator in Indonesia with 40 years of experience Largest toll road operator in Indonesia with 63,6% market share in 33 toll road concessions with total length of 1,497 km terms of commercial toll roads lengths (732 km) and 80% market 70% owned by the Government of Indonesia share of toll road transaction volume Publically listed on the Indonesia Stock Exchange since 2007, with a The longest concession period holder in Asia reflecting stable market cap IDR 32.78trillion as of March 31st,2018 income Key business Strategically important with strong government ownership – Construction, operation and maintenance of toll road Resilient industry with strong government focus Supporting business / other business Strong financial profile with promising growth going forward – Toll Road Operation Services (Provides operation services for Jasa Marga and other toll road investors) – Toll Road Maintenance Services (Provides maintenance services for Jasa Marga and other toll road investor) – Property (ages rest areas and other properties on toll road corridors) Vision & Mission To be the largest, trusted and sustainable national toll 1Q2018 segmental revenue breakdown Vision road network company. Other Business Revenue 1. Lead the development of toll road networks in Toll Revenue – 8% Indonesia to increase national connectivity. Subsidiaries 10% 2. Manage the toll road business along the end-to- end value chain in a professional and Toll Revenue – Jasa Mission sustainable manner. Marga 3. Maximize the regional development to (13 old concessions in balance sheet) accelerate community advancement and 82% increase company profitability. 4. Enhance customer satisfaction through service excellence 3 Company Key Development Milestone Jasa Marga was established Government offered the opportunities with focus on business for the private sector to participate in The authority function was Jasa Marga became a public management, maintenance and toll road business through Build, returned to the Government, company through an Initial procurement of the toll road Operate and Transfer (BOT) system with Jasa Marga. Toll Road Regulatory Agency Public Offering (IPO) and network. (BPJT) under the Ministry of listed its shares on the Jagorawi as the first toll road in Jakarta Toll roads operated by Jasa Marga initiated its operations Public Works. Indonesia Stock Exchange. Indonesia began operations. gradually. 1978 1987 2004 2007 Currently operating 22 toll road concessions Won tender of Batang- Semarang, (732km in length) Forming of PT Jasa Balikpapan-Samarinda, Manado-Bitung Fully implemented Implementation of Implementation of Layanan Operasi (non dan Pandaan- Malang Toll Road. electronic payment e-Toll Card. e-Toll Pass. toll road subsidiary. Integrated of Jakarta-Brebes Toll Road system in all toll roads 2009 2012 2015 2016 2018 4 Company Structure Jasa Marga operate 13 mature toll road in parent level and currently operate 9 new toll road and construct 11 new toll road concessions in subsidiary level. Government Shareholding Structure of Indonesia Individual (“GOI”) Parent Level Domestic, 1. Cawang-Tomang-Pluit 2.47% (Jakarta Inner Ring Road) Institution Ministry of State- Domestic, 2. Prof. Dr. Ir. Sedyatmo (Airport) Pemodal Owned Enterprises 5.98% (“MSOE”) 3. Padalarang Asing, 4. Cileunyi 14.20% 5. Jakarta-Cikampek 6. Palikanci Insurance, 70% 4.67% 7. Jagorawi 8. Surabaya-Gempol Public Foundation, 30% 9. Semarang Mutual 0.19% 10. Jakarta Outer Ring Road Fund, 2.49% 11. Ulujami-Pondok Aren As of 31st Mar 2018 12. Jakarta-Tangerang 13. Belmera PT PT Cinere Serpong Jasamarga PT Jasamarga Gempol PT Jalantol Lingkarluar PT Jasamarga PT Ngawi PT Jasamarga Probolinggo PT Jasamarga PT Marga Sarana Jabar PT Jasamarga Bali Tol PT Jasamarga Kualanamu Tol Jaya PT Jasamarga Manado Bitung Japek Pandaan Tol Pasuruan Kertosono Jaya Banyuwangi Tollroad Jakarta Selatan PT Jasamarga 55% 55% 92,2% 55% 55% 65% 98,81% 60% 55% Operator 99% 80% Tollroad Operator PT Jasamarga99.9% Transjawa Tol 65% PT Jasamarga PT Marga PT Jasamarga Solo PT Jasamarga Semarang PT Jasamarga Pandaan PT Jasamarga Surabaya PT Jasamarga Kunciran PT Jasamarga Balikpapan PT Jasamarga Tollroad Jalanlayang PT Transmarga Jateng Lingkar PT Marga Trans Nusantara Ngawi Batang Malang Mojokerto Cengkareng Samarinda PT Jasamarga Properti Maintenance Jakarta Cikampek 58,91% 60% 60% 60% 80% 55% 76,24% 55% 99,8% 99,7% 65% 80% Toll Road Subsidiaries Other Business Subsidiaries 5 Key Strategy Operating Strategy Funding Strategy Toll Road Business Development Bank Loans Facility : – Adding toll roads to increase the value of the Company and To bridge funding needs before approaching the capital to maintain current market leadership in the foreseeable market future – In the long term, aim to continue operating the best quality Project Bonds in at Project level : commercial toll roads and maintain majority of market share To replace the bank loan financing with fixed interest rate in Indonesia and the principal payment inline with the cashflow Toll Road Operation Bond/Sukuk Issuance at Corporate level: – Operating efficient, safe, and high quality toll road to To finance investment for new toll road project improve operational performance – Providing excellent service to road users, community, and government Equity Fund Raising : To maintain our profitability and also leveraging our Other Business Development financing capacity. – Develop other businesses that are strategically strengthening development strategies and operation of toll roads Securitization on selected toll road : – Increase revenue by leveraging the resources of the To leverage mature assets for debt financing without Company incurring any interest burden. 6 Jasa Marga’s Achievement 2017 7 Strong Corporate Governance and Highly Qualified Management Team Experience management with over 25 years of experience, deep understanding on the industry/sector, and long-term relationship with stakeholders Desi Arryani – President Director • Indonesia citizen, 54 years old • Has work experience in Construction sector more than 20 years. Previously served as Operations Director I of PT Waskita Karya (Persero) Tbk. which is SOE contractor in Indonesia. • Completed her Bachelor degree in Civil Engineering from University of Indonesia (1987) and Master degree in Management from Prasetya Mulya (2008). Donny Arsal – Director of Finance • Indonesia citizen, 47 years old • Has work experience in Financial sector more than 23 years. Previously served as Managing Director PT Mandiri Sekuritas. that look after for Investment Banking Division. • Completed Bachelor Degree from University of Indonesia (1991). Mohammad Sofyan – Operational Director I • Indonesia citizen, 46 years old • Join Jasa Marga since 1997 and has lead in various sector such us toll road project, IT and strategic corporate planning. Previously served as Corporate Secretary PT Jasa Marga (Persero) Tbk. • Completed Bachelor Degree in Civil Transportation Engineering at Sepuluh November Institute of Technology Surabaya (1996) and Master Degree in Project Management from University of Indonesia (2003) and Master Business & IT from Melbourne University (2007). Subakti Syukur – Operational Director II • Indonesia citizen, 54 years old • Join Jasa Marga since 1986 and has work experience in toll road operations more than 20 years. Previously served as President Director of PT Marga Lingkar Jakarta (one of Jasa Marga’s Subsidiary). • Completed Bachelor Degree in Civil Engineering from Bandung Institute of Technology (1986) and Master degree in Management from University of Kristen Indonesia (2010). Adrian Priohutomo – Director of Development • Indonesia citizen, 54 years old • Has work experience and major success in conceptualizing, developing and managing commercial and housing estates. Previously served as President Director of PT Permata Graha Nusantara. • Completed Bachelor Degree at Institute of Bandung Teknology (1988) Kushartanto Koeswiranto – Director Of Human Resources And General Affairs • Indonesia citizen, 56 years old • Having work experience in Human Resources sector more than 20 years. Previously served as President Director KTalents Asia, Head of HR Podomoro Group, and HR & Business Support Director Lotte Shopping Indonesia. • Completed Bachelor Degree at Diponegoro University and MBA at IPMI. 8 Industry Overview Overview of the Indonesian Toll Regulation Ease derived from highly regulated industry • Certainty of tariff increase every two years according to regulation • The timing of the land acquisition process is faster, if any dispute is decided by the court • Potential for efficiency from cashless transaction Overview of the authorities involved Toll Tariff Government of Indonesia Initial toll tariff is calculated based on investment feasibility, toll road user’s ability to pay and vehicle operating cost saving Initial toll tariff is stipulated in concession agreement prior to start of construction Ministry of State Ministry of Public Tariff adjustment is regulated by law, is calculated based on regional Owned Enterprises Works CPI and is adjusted once every 2 years Indonesian Toll Initial toll tariff setup and subsequent adjustment is decided by Road Authority Directorate General (BPJT) of highways Minister of Public Works decree The ministry may postpone tariff increases if a toll road fails to Concession agreement Concession
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