PT Indonesian Paradise Property Tbk Company Presentation Page Title: 24 pt; Nirmala Disclaimer 50 50 50 You must read the following before continuing. The confidential information following this page, the oral presentation of such information and other materials distributed at, or in connection with, the presentation (the "Presentation") is for information purposes only, and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities of PT Indonesian Paradise Property Tbk (“Indonesian Paradise Property” or Placeholder Heading the “Company”) or any other securities, nor shall any part of the Presentation or the fact of its distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto in Singapore, the United States, China, Japan or any other jurisdiction. This Presentation has been prepared solely for Font color – 14/62/78 informational use and may not be taken away, reproduced, referred to publicly or redistributed in whole or in part to any other person. By attending this presentation and/or reading Fill Color – 255/255/255 this Presentation, you are agreeing to be bound by the foregoing and below restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. If you are not the intended recipient of this Presentation, please delete and destroy all copies immediately. Line: 14/62/78 This Presentation is confidential, and all contents of this Presentation are to be kept strictly confidential until the publication of research in accordance with the applicable guidelines. Some of the information in the Presentation is still in draft form, has not been legally verified. This Presentation is intended only for the recipients thereof, and may not be copied, reproduced, retransmitted or distributed by a recipient to any other persons in any manner. Charts/Objects Color Scheme This Presentation contains certain forward-looking statements that may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “depends,” 14 62 78 “projects,” “estimates” or other words of similar meaning and that involve risks and uncertainties. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, product development, market position, expenditures, and financial results, are forward-looking statements. Forward- looking statements are based on certain assumptions and expectations of future events which are subject to significant uncertainties and contingencies many of which are beyond 20 92 118 the Company’s control. The Company does not guarantee that these assumptions and expectations are accurate or will be realized. Past performance does not guarantee or predict future performance. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. 27 123 157 Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies, shifts in demand for tenancy, level of rental income from properties which may decrease for a number of reasons including the lowering of rates, insolvency of 140 140 140 tenants, delay in payment by tenants, changes in operating expenses including employee wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of the Company on future events. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the 190 190 190 basis of any subsequent developments, information or events, or otherwise. 4 212 240 The information in this Presentation has been prepared by Company and has not been independently verified, approved or endorsed by any selling agent or advisor retained by the Investment Manager. No representation or warranty, express or implied, is made as to, and no reliance, in whole or in part, should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this Analyst Presentation. It is not intended that these materials provide, and you may not rely on these materials as 199 171 115 providing, a complete or comprehensive analysis of Indonesian Paradise Property or any proposed offering. The information and opinions in these materials are provided as at the date of this Presentation, and are subject to change without notice. None of the Company, or any of their respective affiliates, agents, advisers or representatives, makes any representation as to, or assumes any responsibility with regard to, the accuracy or completeness of any information contained herein (whether prepared by it or by any other person) 165 107 124 or undertakes any responsibility for any reliance which is placed by any person on any statements or opinions appearing herein or which are made by the Company or any third party, or undertakes to update or revise any information subsequent to the date hereof, whether as a result of new information, future events or otherwise and none of them shall have any liability (in negligence or otherwise) nor shall they accept responsibility for any loss or damage howsoever arising from any information or opinions presented in these materials or use of this Presentation or its contents or otherwise arising in connection with this Presentation. Highlight for Tables This Presentation may not be taken or transmitted into the United States, Canada or Japan or distributed directly or indirectly, in the United States, Canada or Japan. No portion of these materials is an offer of securities for sale in any jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration 255 102 0 under the U.S. Securities Act of 1933, as amended (the “Securities Act’). Key Message 16 113 175 Confidential 2 Page Title: 24 pt; Nirmala Table of contents 50 50 50 Placeholder Heading Font color – 14/62/78 Fill Color – 255/255/255 Line: 14/62/78 1 Overview of INPP Charts/Objects Color Scheme 14 62 78 20 92 118 2 Key Business Updates 27 123 157 140 140 140 190 190 190 3 Financial Highlights 4 212 240 199 171 115 165 107 124 4 Appendix Highlight for Tables 255 102 0 Key Message 16 113 175 Confidential 3 1. Overview of INPP Confidential 4 If numbers show well, demonstrate growth in 5Y – like # rooms, NLA etc Page Title: 24 pt; Nirmala We develop & operate iconic lifestyle destinations in 50 50 50 Indonesia’s key cities Commercial Placeholder Heading 1 (retail & office) 2 Hospitality 3 Property sales Font color – 14/62/78 Fill Color – 255/255/255 Portfolio comprises of 7(2) modern lifestyle Hospitality portfolio comprises of 9 hotel Developer of some of the most iconic Line: 14/62/78 concept malls and 1 premium office tower, brands across 13 hotels, consisting of skyline residential projects in Indonesia - with total commercial net leasable area approximately 2,600(3) rooms from 2-star One Residence, 31 Sudirman Suites and (NLA) of approximately 240,000m2 across business to 5-star business hotels across Beachwalk Residence Bali, Bandung, and Jakarta Bali, Batam, Jakarta, Makassar, and Charts/Objects Color Scheme Description Yogyakarta 14 62 78 20 92 118 27 123 157 140 140 140 Key properties 1,060 2 190 190 190 36.6mn 387K 193K 59K m IDR 536 bn 2018 Number of (4) 2018 Annual Shopper 2018 Guest Visits 2018 Room Nights Total GFA built Cumulative (4) Traffic(4) Retailers Sold(4) marketing sales 4 212 240 199 171 115 92.6% 3.4 years 71.7% IDR 1.3 mn 367 IDR 24 mn/m2 2Q19 Occupancy(4) 2Q19 WALE(5) 2018 Occupancy(4) 2018 ARR(4) Number of Units Sold Average selling price Key statistics 165 107 124 Highlight for Tables Track record of delivering growth Internationally recognized for excellence 255 102 0 1.8x 3.2x 4.7x >200 International Revenue Growth Asset Growth Net Income Growth Awards 50 Best of the Best Key statistics Companies 2016 -2018 Over the past 5 years(1) For our products, designs, & services(3) Key Message Notes: 16 113 175 (1) Based on reported figures from FY13A to FY18A. Confidential (2) Refers to operating and under development retail malls. (3) Refers to operating hotels and current hotels under development. 5 (4) Figures based on Indonesian Paradise Property and Plaza Indonesia Realty combined. (5) Figures based on Indonesian Paradise Property only. 387K 193K 59K m2 IDR 536 bn 36.6mn 1,060 Guest Visits Room Nights Sold Total GFA built Cumulative Annual Shopper Number of Retailers marketing sales Traffic 64 Number of Office 71.7% IDR 1,3 mn 367 IDR 24 mn/m2 92.6% Tenants 2018 Occupancy 2018 ARR Number of Units Sold Average selling price 2Q19 Occupancy Key statistics 3.4 years 2Q19 WALE [•] [•] [•] 2017 2017 2015-2018 [•] [•] [•] Grand Hyatt Awards Best Business Hotel in Jakarta Page Title: 24 pt; Nirmala Diversified business model with financial excellence 50 50 50 & high quality earnings profile Placeholder Heading Highest One of the largest With a long operating history