COMPANY UPDATE June 2021 CORPORATE STRUCTURE OF WASKITA GROUP Waskita Group, which has vertically integrated business lines, has supported PT Waskita Toll Road (WTR), particularly with the capability and extensive experience in the field of construction and precast concrete. Waskita is one of the leading construction companies in Indonesia. Waskita has more than 50 years experience in construction business with proven track records. 99.99% 87,595% 59.99% 99.99% . Selected Waskita projects : Bali – Benoa Gempol – Mandara Toll Road Toll Road Pasuruan Toll Road WBP is supplying precast concrete to support the WBP has business activities in the field of execution of Waskita’s projects, including WTR toll roads, marketing, production, design, development and hence the quality of concrete can always be maintained. expedition of precast. Currently, WBP is one of the biggest precast and WTR collaborates with Waskita, as the contractor readymix concrete manufacturing in Indonesia. of the projects, which ensures the projects . WBP has 11 concrete plants with the production completion time and quality. capacity of 3.25 million tons every year. Selected WBP Projects: Enhancing WTR's ability to complete the project on schedule with the best quality Nusa Dua – Gempol– Gempol – Ngurah Rai Toll Porong Toll Pasuruan Toll 2 Overview of PT Waskita Toll Road (“WTR”) Currently, WTR owns 13 toll roads, of which 10 toll roads are already in operation and when all of the projects are completed, it will become a leading toll road company with a total length of ±687,69 km.* CORPORATE STRUCTURE* Transjava Sumatera Area 60.00% 39.50 % 30.00% 98.18% PT Waskita Toll Road (“WTR”), established PT PT PT Hutama PT on June 19, 2014 is a subsidiary of Waskita Pemalang Waskita Marga Waskita that focuses on investing and managing toll Batang Tol Trans Jawa Waskita Sriwijaya road in Indonesia. Road Toll Road Tol 87,595% (“PBTR”) (“WTTR”) (“HMW”) (“WST") WTR business growth strategy is through the acquisition of toll road concessions that 99.99% 77.69% 99.99% are still greenfield projects, initiation of PT PT PT Trans unsolicited projects, and participation in Pejagan Semesta Jawa bidding project tender. Pemalang Marga Paspro Tol Road Raya Jalan Tol VISION (“PPTR”) (“SMR”) ("TJPJT") To be a leading company in Indonesia in toll road investment. 7,904% 4,501% Non Transjava MISSION 69.70% 55.00% 90.00% 99.99% 99.82% PT Kresna PT Cibitung PT Continously increasing company value Kusuma Tanjung Cimanggis PT Trans PT Waskita through : Dyandra Priok Port Cibitung Jabar Tol Bumi Wira Marga Tollways Tollways ("TJT") (“WBW") 1. Competent Human Resource ("KKDM") (“CTP”) ("CCT") 2. Integrated Systems and Technologies 15.00% 18,20% 3. Synergies with business partners PT Citra PT Citra 4. Innovation Karya Waspp Jabar Tol hutowa (“CKJT”) ("CW") 3 *as of June 21 WTR’S INVESTMENT IN TOLL ROAD HMW (Kuala Tanjung-Tebing Tinggi-Parapat) 143.25 km WST (Kayu Agung- Palembang-Betung) 111.69 km PT Waskita Transjawa Toll Road TJPJT SMR PPTR (Pasuruan- (Kanci-Pejagan) (Pejagan-Pemalang) Probolinggo) 35.00 km 57.5 km 43.75 km KKDM (Bekasi-Cawang- Kampung Melayu) CCT 16.02 km (Cimanggis- PBTR Cibitung) (Pemalang-Batang) 26.18 km 39.20 km CW Full Operation (Depok-Antasari) 27.95 km Partial Operation Under Construction TJT WBW (Ciawi-Sukabumi) CTP CKJT (Krian-Legundi- 54.00 km (Cibitung- (Cileunyi-Sumedang- Bunder-Manyar) Cilincing) Dawuan) 38.29 km 34.76 km 60.10 km . The main players of toll road industry are (i) Jasa Marga (±1,527 km toll road in 2018)*, (ii) Waskita (±687,69 km for 13 toll roads through WTR in May 2021), (iii) Hutama Karya (±650 km in 2019)**. Besides Java, WTR is also active in developing toll roads in Sumatra, namely Kayu Agung-Palembang-Betung toll road (111.69 km), and Kuala Tanjung – Tebing Tinggi – Parapat toll road (143.25 km). 4 * Public Expose of Jasa Marga September 2018 **Public Expose of Hutama Karya 2019 GOVERNMENT’S SUPPORT TO ACCELERATE TOLL ROAD DEVELOPMENT As one of the strategic project, the Government gives full support, both in investment and regulation side, for the toll road development in order to boost connectivity, reducing travel time and lower the logistic fee. TOLL ROAD MASTER PLAN NEW REGULATION TO ACCERELATE LAND ACQUISITION The government has ed to operate 6,115 km toll roads on 2025. Ministry of Public Works & Housing Regulation Number 03/PRT/M/2017 Therefore, each of toll road construction will be supported by the . government to achieve. The land acquisition for toll road construction is the responsibility of the Government and the fund may be originating from the State Budget, which can be covered first by Business Entity. KALIMANTAN . The land acquisition fund for Toll Road construction is provided by the SUMATERA 99 Km SULAWESI Government through the appointed agencies, which is Lembaga Manajemen Aset Negara (LMAN) 2,865 Km 107 Km . In the case of LMAN referring to sentence yet to operate, the Business Entities could use the Business Entity’s fund for land acquisition. JAWA . LMAN will reimburse the business entity’s fund that used for land acquisition BALI along with the cost of funds at the BI 7 day repo rate. 2,815 Km 229 Km Ministry of Finance Regulation Number 139/PMK.06/2020 Toll Road Operating in 2025 = 6.115 Km . 139/PMK.06/2020 states that land acquisition funding can be paid directly by Estimated Investment Cost = USD 51,642 Million LMAN or covered first by Business Entity. Source: Ministry of Public Work and Housing Government Regulation Number 19/2021 (PP 19/2021) . PP 19/2021 concerning the Implementation of Land Procurement for GOVERNMENT’S ROLE Development in the Public Interest, including Land Procurement for Toll Roads. TARIFF ADJUSMENT Regulator Funding Guarantee . The 2004 Road Law states that toll tariffs should be calculated based on the financial capability of toll-users, operation and maintenance costs requirement, existing capacity expansion costs, and feasibility of investment . The amount of the toll road tariff is stated in the PPJT and can be charged to the end user after the issuance of the commissioning certificate. Furthermore, the tariff will be evaluated and adjusted every two years based on the relevant region’s inflation 5 INFORMATION SUMMARY Toll Estimated Estimated Ownership No Subsidiaries Toll Road Route Length Investment Equity Source % (Km) Cost (IDR Tn) Portion (%) 1 PT Waskita Transjawa Toll Road 39.50 - PT Semesta Marga Raya Kanci-Pejagan 77.69* 35.00 2.5 37 PPJT 2018 - PT Pejagan Pemalang Toll Road Pejagan-Pemalang 99.99* 57.50 7.6 30 PPJT 2020 - PT Transjawa Paspro Jalan Tol Pasuruan-Probolinggo 99.99* 43.75 6.3 40 PPJT 2020 4 PT Cimanggis Cibitung Tollways Cimanggis-Cibitung 90.00 26.18 10.6 30 PPJT 2020 5 PT Cibitung Tanjung Priok Port Tollways Cibitung-Cilincing 55.00 34.76 12.9 30 PPJT 2020 Bekasi-Cawang-Kampung 6 PT Kresna Kusuma Dyandra Marga 69.70 16.02 9.5 35 Business Plan 2020 Melayu 7 PT Trans Jabar Tol Bogor-Ciawi-Sukabumi 99.99 54.00 11.7 30 PPJT 2020 8 PT Citra Waspphutowa Depok-Antasari 18.20 27.95 6.6 32 PPJT 2019 9 PT Citra Karya Jabar Tol Cileunyi-Sumedang-Dawuan 15.00 60.10 8.4 30 PPJT 2017 10 PT Pemalang Batang Tol Road Pemalang-Pekalongan-Batang 60.00 39.20 7.8 30 PPJT 2019 Krian-Legundi-Bunder- 11 PT Waskita Bumi Wira 99.90 38.29 12.9 44 PPJT 2020 Manyar Kuala Tanjung – Tebing Tinggi 12 PT Hutama Marga Waskita 30.00 143.25 14.8 30 Business Plan 2020 – Parapat Palembang – Kayu Agung – 13 PT Waskita Sriwijaya Tol 98.18 111.69 22.17 30 PPJT 2020 Betung Total 687,69 133,77 6 Note * : WTTR ownership at SMR, PPTR and TJPJT. WTR’S COMMITMENT IN PROJECT SETTLEMENT (1/3) As part of Trans-Java Toll Road, WTR’s concession is spread across 175,45 km which is divided into 5 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with the other shareholders. SMR PPTR TJPJT PBTR (Kanci-Pejagan) (Pejagan-Pemalang) (Pasuruan-Probolinggo) (Pemalang-Batang) START START START START START START START START CONSESSION OPERATION CONSESSION OPERATION CONSESSION OPERATION CONSESSION OPERATION 2008 2010 2014 2016 2017 2019 2016 2018 LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 35 35 57.5 50 43.75 40 39.2 50 7 WTR’S COMMITMENT IN PROJECT SETTLEMENT (2/3) WTR’s concession in non Trans-Java Toll Road is spread across 512.24 km which is divided into 10 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with other shareholders. KKDM CCT CTP (Bekasi – Cawang – (Cibitung Cilincing) Kampung Melayu) (Cimanggis - Cibitung) START START START START START OPERATION START OPERATION CONSESSION CONSESSION CONSESSION OPERATION 2016 2017 2015 2020 2018 2021 LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 16.02 45 26.18 45 34.76 50 TJT WBW WST ((Krian – Legundi – Bunder - (Kayu Agung – Palembang – (Ciawi - Sukabumi) Manyar Betung) START START START START START OPERATION OPERATION START OPERATION CONSESSION CONSESSION CONSESSION 2015 2018 2018 2020 2016 2020 LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION LENGTH (KM) CONSESSION PERIOD (YEAR) PERIOD (YEAR) PERIOD (YEAR) 54.00 45 38.29 45 111.69 50 8 WTR’S COMMITMENT IN PROJECT SETTLEMENT (3/3) WTR’s concession in non Trans-Java Toll Road is spread across 512.24 km which is divided into 10 toll roads under each operating company known as the Toll Road Business Agency (“BUJT”or “Badan Usaha Jalan Tol”) alongside with other shareholders.