UBS Global Consumer Conference Boston, March 2013

Excellence in Execution Forward Looking Statement

This presentation has been prepared for informational purposes only by PT Kalbe Farma Tbk. (“Kalbe” or the “Company”). This presentation has been prepared solely for use in connection with the release of 31 December 2012 indicative unaudited results of the Company. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of their respective affiliates, and their respective commissioners, directors and employees, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. Any decision to purchase or subscribe for securities of the Company should not be made on the basis of the information contained in this presentation. The presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. This presentation and its contents are confidential unless they are or become generally available as public information in accordance with prevailing laws and regulations (other than as a result of a disclosure by you) and must not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation, including the information and opinions contained herein, is provided as of the date of this presentation and is subject to change without notice, including change as a result of the issuance of 31 December 2012 indicative unaudited results of the Company . This presentation includes "forward-looking statements". These statements contain the words "anticipate", "believe", "intend", estimate", "expect" and words of similar meaning. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans, objectives relating to the Company's products and services and anticipated product launches) are forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this presentation. The Company expressly disclaims any obligation or reflection of any change in the Company's expectations with regard thereto, or any change in events, conditions or circumstances on which any statement is based. Market data and certain industry forecasts used in this presentation were obtained from market research, publicly available information and industry publications which have not been independently verified, and no representation is made as to the accuracy of such information.

Excellence in Execution 2 Table of Contents

BUSINESS OVERVIEW 2012 4

OUR STRATEGIES IN 2013 22

Excellence in Execution 3 BUSINESS OVERVIEW 2012

4 Excellence in Execution Corporate Overview

Largest Publicly-Listed Pharmaceuticals Company in • Established in 1966 and headquartered in • A public company since 1991 and listed in the Stock Exchange • The largest publicly-listed pharmaceuticals company in Southeast Asia • Sales breakdown by segment and by geographical location for YTD December 2012 is as

follows: Export, 4% Prescription Distribution & Pharmaceuticals Logistics 24% 38%

Domestic, 96% Consumer Health Nutritionals 16% 22% Total Sales = Rp 13.630 Bn Total Sales = Rp 13.630 Bn • Over 10,000 employees and a marketing and sales force of 4,000 covering 80% of the Indonesian consumer health and 100% of the Indonesian prescription pharmaceuticals market

Excellence in Execution 5 Indonesia’s Health Spending Trends

• Total expenditure on health averaged 2.1% of Healthcare Expenditure/GDP 2010 GDP over the 11 year period 1999-2009. 5.00% 4.8% 1.2 • In Q4 2009, the new Healthcare Law has been4.50% 4.1% 3.8% 1 4.00% 3.5% 3.50% 3.3% approved and provides guideline for Government 0.8 3.00% to increase the healthcare spending from 2% up2.50% 2.1% 0.6 2.00% 0.4 to 5% of GDP. 1.50% 1.00% 0.2 0.50% • Law on National Social Security System has0.00% 0 been passed since 2004, but implementation India Singapore Indonesia Source : Business Monitor International: Pharmaceutical & Healthcare Report, Q3 2011 regulation on Social Security Provider Body (Indonesia, Malaysia, Thailand, Philippines, India, Singapore) (BPJS) has just been passed in October 2011. Share of Total Health Expenditure (%) 1999-2009 There will be two BPJS: BPJS Health (Jan 1, 2014) and BPJS Labor (Jul 1, 2015). 70 Total Healthcare Expenditure 60 50 300.0 1.2 247 40 250.0 1 (Rp Tn) Growth of 14.1% 221 30 196 200.0 0.8 173 20 153 150.0 133 0.6 116 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 101 100.0 86 0.4 public private out-of-pocket private

50.0 0.2 Source: The World Bank - 0 2007 2008 2009 2010 2011F 2012F 2013F 2014F 2015F Source : Business Monitor International: Pharmaceutical & Healthcare Report, Q3 2011 (Indonesia, Malaysia, Thailand, Philippines, India, Singapore)

Excellence in Execution 6 Indonesian Pharmaceuticals Market

Highly Fragmented Industry with more than 200 Pharmaceutical Players

Total Market (ITMA) Pharmacy (IPA) Hospital (IHPA) YTD 12 2011 YTD 12 2011 YTD 12 2011

c b b c b a c d a d a 5% d e KALBE 6% 7% 5% e 5% 7% 5% 4% e KALBE 7% 4% KALBE 5% 5% 4% 4% f GROUP 4% f GROUP f GROUP 3% 8% 3% 9% 4% 13%

OTHERS OTHERS OTHERS 60% 63% 60%

Total Market = Rp 43.1Tn Total Market = Rp 7.9Tn Total Market = Rp 13.8Tn

Source : IMS Health Prescription Pharmaceuticals YTD 12 2011(Ethical + OTC)

Excellence in Execution 7 Prescription Pharmaceuticals Division

Comprehensive Product Range Targeted to All Income Groups Sales Contribution By Number of Therapeutic Class Product Categories Products YTD 09 2012 • General Anti-Infectives • Hospital Solutions Licensed • Oncology Licensed 89 Products • Blood and Blood Forming Organs Products • Musculo-Skeletal System 32% • Alimentary Tract and Metabolism Branded Generics • General Anti-Infectives Unbranded 58% Branded 254 • Central Nervous system • Musculo-Skeletal System Generics Generics 10% • Cardiovascular System • Alimentary Tract and Metabolism • General Anti-Infectives Unbranded • Alimentary Tract and Metabolism 40 Generics • Cardiovascular System Total Sales = Rp 2,412 Bn • Central Nervous system

Key Licensors

Excellence in Execution 8 Prescription Pharmaceuticals Division

New Production Facilities

• Completed new production facility for generic drugs in Cikarang

• Construction of oncology plant in Pulogadung

Excellence in Execution 9 Consumer Health Division

Strong Brand Equity with Leading Market Position

Market share of Kalbe’s brands YTD December 2011

Therapeutic Class Kalbe’s Products Market Share by Volume Antacid Promag, Waisan 77.4%* Anti Diarrhea Neo Entrostop 44.8%** Cough Remedies Komix, Woods, Mextril, Mixadin 39.1% Cold Remedies Mixagrip Reg, Mixagrip FB, Procold 35.9% Cerebrovit, Fatigon, Sakatonik Liver, Multivitamin & Vitamin C 42.2% Xon-Ce Children Multivitamin Cerebrofort, Sakatonik ABC 21.1% Energy Drink ExtraJoss 23.8%

Source : AC Nielsen jaguar method, based on volume (unit) Note : * urban data only ** based on AC Nielsen August 2010

Excellence in Execution 10 Nutritionals Division

Complete Range of Nutritional Products • Catered to expecting & lactating mothers, babies, toddlers, children, tweens and adults.

Expecting Lactating Baby Toddler Kid Tween Teen 25+ 35+ Clinical

Excellence in Execution 11 Nutritionals Division

Relatively Low Milk per Capita Consumption

Milk per Capita Consumption (kg)

40 -2.3% 35 30 25 20 1.6% 15 0.5% 10 2.7% 1.6% 5 1.1% 0 Indonesia Thailand Philippines Malaysia South Korea 2006 2.29 13.55 1.48 7.49 2.71 35.7 2007 2.39 12.28 1.51 8.15 2.39 34.92 2008 2.5 12.94 1.31 7.75 2.72 35.83 2009 2.57 13.68 1.52 7.46 2.87 35.73 2010 2.58 13.74 1.51 7.51 2.76 30.83 2011 2.63 14.34 1.55 7.61 2.85 30.61 2012 2.68 14.92 1.58 7.73 2.98 30.99

Source: FAPRI (Food & Agricultural Policy Research Institute) for whole milk powder, liquid milk and non fat dry milk categories 2006 – 2010 = Real Data; 2011 – 2012 = Projection Note : %growth represents 6 years (2006-2012) CAGR

Excellence in Execution 12 Business Overview 2012

• Launched new innovative products

• Acquisition of PT Hale International

• Established a joint venture company PT Kalbe Milko Indonesia

Excellence in Execution 13 Nutritionals Division

Multi Channel Customer Touch Points Kalbe e-store - the 1st Online Nutrition Store in Indonesia

Nutritionals Division launched new channel of consumer order through hotline service Kalbe Home Delivery 500-880 and online shopping through www.kalbestore.com . Kalbe Family Reward Card offers point rewards for consumers to increase Kalbe products consumption.

Excellence in Execution 14 Distribution & Logistics Division

The Most Extensive Distribution Network

RDC Branches Cities 2 65 47

Excellence in Execution 15 Distribution & Logistics Division

Major Third Party Principals by Category • Expansion of distribution and logistics facilities

Banjarmasin Jember Surakarta Banda Aceh Denpasar • Multi-channel customer touch points : Kalbe e-store, Kalbe Family Rewards Card, Kalbe Home Delivery, Kalbe Customer Care

• Continued to improve retail health service business model : Mitrasana Clinic • 4-in-1 concept : family doctor, pharmacy, laboratory, and convenient store. • To date, Kalbe has opened 39 Mitrasana clinics in Jakarta and its Greater Area.

Excellence in Execution 16 Distribution & Logistics Division

Major Third Party Principals by Category

Prescription Medical Instrument Fine Chemical Pharmaceuticals Consumer & Diagnostic Raw Materials

Excellence in Execution 17 International Overview 2012

• Continued regional expansion

Diabetasol and Extra Joss Events in the Philippines Long-lasting kick

Excellence in Execution 18 Indicative Results 2012

Strong Top Line Growth in All Segments

Net Sales (in Rp Bn) 24.9%

31 Dec 2011 (Audited) 31 Dec 2012 (Unaudited) 13,630

10,912

33.7% 18.4% 16.8% 24.5% 5,179 3,873 3,288 3,012 2,778 2,420 1,842 2,151

Prescription PharmaceuticalsConsumer Health Nutritionals Distribution & Logistics Consolidation

Excellence in Execution 19 Indicative Results 2012

Improved operating expenses efficiency

Gross Profit Margin Operating Expenses to Net Sales Ratios

32.8% 31.6% -1.2% - 3.0% 0.8% 0.7% 5.4% 4.9% 50.9% 47.8% Selling & Marketing

General & 26.6% 26.0% Administrative Research & Development

31 Dec 2011 31 Dec 2012 31 Dec 2011 31 Dec 2012 (Audited) (Unaudited) (Audited) (Unaudited)

• Gross Profit Margin decreased by 3.0% mostly • Improved Operating Expenses to Net Sales Ratio by due to change in business mix. 1.2% due to strong sales growth.

Excellence in Execution 20 Indicative Results 2012

Strong Earnings Growth

Income Before Tax Net Income (in Rp bn) (in Rp bn)

+15.1% +16.8% 2,288 1,732 1,987 1,482

31 Dec 2011 (Audited) 31 Dec 2012 (Unaudited) 31 Dec 2011 (Audited) 31 Dec 2012 (Unaudited)

• Income before tax margin declined from • Net income margin declined from 13.6% in 2011 18.2% in 2011 to 16.8% in 2012 to 12.7% in 2012.

Excellence in Execution 21 OUR STRATEGIES IN 2013

22 Excellence in Execution Strategies for 2013

1. Improve marketing and sales effectiveness

CORPORATE BRANDING

2. Strengthen business portfolio through innovation and M&A

Excellence in Execution 23 Strategies for 2013

3. Go global – deeper ASEAN penetration 4. Expand distribution coverage with more product offering

New RDC

New branches and existing branch capacity expansion

Additional trucks & motorcycles 5. Enhance human capital development

Excellence in Execution 24 Outlook 2013

Earnings Guidance 2013

1. Year-on-year Sales Growth 15% - 18% 2. Operating Profit Margin 16.0% -17.0% 3. Earnings per Share growth of 15% - 18% 4. Dividend payout ratio minimum 50%

• Capex Rp 1 – 1.5 Tn for production capacity and distribution network expansion • Cancellation of Treasury Stocks - subject to shareholders’ approval in EGMS in May 2013

Excellence in Execution 25 THANK YOU

For further information: PT Kalbe Farma Tbk. Jalan Let.Jend. Suprapto Kav. 4 Jakarta 10510, Indonesia Tel. : 62-21-42873888 Fax. : 62-21-42873678 Email : [email protected] [email protected] [email protected] Website : www.kalbe.co.id

Excellence in Execution 26