TO BE A SUSTAINABLE ASEAN-CLASS CONSTRUCTION AND INVESTMENT COMPANY. Nov Company Update

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1 TO BE A SUSTAINABLE ASEAN-CLASS CONSTRUCTION AND INVESTMENT COMPANY Nov 2017 Company Update JAKARTA 2017

Table of Contents 1 Company Overview 3 4 Opera5onal Highlights 21 2 Company Update 8 5 Projects & Investments 26 3 Financial Highlights 11 6 Appendices 29 Cover front: Notog- Purwokerto Tunnel,

2 Table of Contents 1 Company Overview 3 4 Opera5onal Highlights 21 2 Company Update 8 5 Projects & Investments 26 3 Financial Highlights 11 6 Appendices 29 Cover front: Notog- Purwokerto Tunnel, Central Java Indonesia s 1 st double track railway tunnel IMPORTANT: The following forms part of, and should be read in conjunction with, this presentation This presentation contains privileged information and has been prepared solely for the recipient. By accepting a copy (or the contents) of this presentation, you are deemed to have acknowledged and agreed to the provisions appearing hereinafter. The existence of this presentation and the contents thereof should not be disclosed, reproduced, copied or otherwise disseminated to any other person or published, in whole or in part, without prior consent of PT PP (Persero) Tbk. ( PTPP or the Company ) Unless otherwise stated, the Company is the source for all data contained in this presentation. This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, transmission, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction This presentation is made solely for information purposes and does not constitute or form part of any offer for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities and should not be treated as giving investment advice, and neither this document nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. This presentation does not constitute a prospectus or other offering circular in whole or in part. Any decision to purchase or subscribe for securities should be made only on the basis of the information contained in a prospectus or offering circular issued by the Company in connection with any such offering. This presentation has no regard to the specific investment objectives, financial situation or particular needs of any recipient. This presentation contains forward-looking statements that involve risks and uncertainties. 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. Although the Company believes that such forward-looking statements are based on reasonable assumptions, it can give no assurance that such expectations will be met. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, and competition from other companies. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of the management on future events Information and opinions contained in this presentation are provided for reference of the recipients only and are not to be relied upon as authoritative or without the recipient s own independent verification or taken in substitution for the exercise of the recipient s own judgment. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any reference to past performance should not be taken as an indication of future performance. The information contained in this presentation is subject to changes without notice. In furnishing the presentation, the Company has not undertaken to provide the recipient with access to any additional information or updates. None of the Company or the banks warrant or guarantee whatsoever that this presentation will lead to the successful completion or consummation of any transactions Accordingly, the Company and the banks disclaim any liability whatsoever in connection therewith and with any decisions that might be taken upon the basis of this presentation, directly or indirectly. None of the Company, its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this material or otherwise arising in connection with this presentation. In particular, the Company and the banks owe no duty to the recipient (except as required by applicable laws) to exercise any judgment on its behalf as to the merits or suitability of any transaction. This document is not intended to provide and should not be relied upon for tax, legal or accounting advice, investment recommendations or a credit or other evaluation of any transaction. The recipient agrees that the merits or suitability of any such transaction to its particular situation will be independently determined by the recipient including consideration of the legal, tax, accounting, regulatory, financial and other related aspects thereof. The recipient of this presentation shall only use the information contained herein solely in the context of the evaluation of the proposals set out in this presentation and not for any other purposes, commercial or otherwise. Subject to the above, this presentation and the contents thereof are strictly confidential and remains at all times the property of the Company

3 Kalibaru Port, Indonesia s biggest container terminal Winner, Asian Civil Engineering Coordina=ng Council Award 2016 Part 1 Company Overview

4 About PTPP PTPP in brief 64 years Established in 1953, over 6 decades of experience 7 business lines Corporate Values Infrastructure, Energy, Property, ConstrucKon, EPC, Precast and ConstrucKon Equipment 2010 Went public on February 9, trillion Rupiah Market capitalizakon as of October 31, % Free float (public ownership) in the market consisted of 29% 20% Foreign investor ownership as of October 31, 2017 Local investor ownership as of October 31, 2017 VISION To be a leading and sustainable construckon and investment company in South East Asia MISSION Providing ConstrucKon and EPC services as well as Good Corporate Governance- based Investment, QSHE Management, Risk Management, and Green Concept that priorikze on customer saksfackon and sustainability Developing Business Synergy Strategy to create high compekkveness and opkmal value add for the Stakeholders CreaKng Excellent Human Resources with Recruitment, Development and Assessment based on Corporate Culture OpKmizing Knowledge Management to achieve Sustainable Excellent Performance Developing Corporate Strategy through Financial strengthening to increase Equity P P B I D Personal Awareness Professional Be Grateful Integrity Discipline 4

5 Company Milestones 2017 Transformed to become PT Pembangunan Perumahan (Persero) 1953 EMBO Government of Republic Indonesia 51% KKSPP 49% 1971 Established as NV PP DiversificaKon to Property and Realty DiversificaKon to EPC and Investment DiversificaKon to ConstrucKon Equipment 2012 DiversificaKon to Precast IPO: February 9 Listed on the Indonesia Stock Exchange Completed Right Issue at PT PP (Persero) Tbk DiversificaKon to Energy and Infrastructure IPO: May 19 Subsidiary PT PP ProperK Tbk was listed on the Indonesia Stock Exchange Completed Right Issue at PT PP ProperK Tbk IPO of PT PP Presisi Tbk 5

6 Corporate Shareholding Structure Government of Republic Indonesia KKPSPP Public (Below 5.0%) 51.00% 0.08% 48.92% 64.98% 99.98% 99.99% 99.00% 99.00% ProperK Presisi Urban Energi Infrastruktur Below 50% Subsidiaries PT HKM 99.00% PT SPPP 49.00% PT GSN 99.90% PT PPP 40.00% PT WSS 55.00% PT JPP 49.00% PT PPPJR 52.60% Below 50% Subsidiaries PT Lancarjaya Mandiri Abadi 51.00% PT Griyaton 96.57% PT MDP 99.00% PT IME 35.00% PT SDP 75.00% 40.00% PT Solo Citra Metro Plasma Power 35.00% PT Jasamarga Pandaan Malang 30.00% PT Alam In5 Energi 25.00% PT Prima Mul5 Terminal 20.00% PT Sinergi Investasi Proper % PT Jasamarga Kualanamu 15.00% PT Jasamarga Balikpapan 15.00% PT Jasamarga Manado Bitung 15.00% PT Teknik Rekayasa Kereta Kapsul 15.00% PT PP Taisei 15.00% PT Wijaya Karya Serang Panimbang 14.00% PT Citra Karya Jabar Tol 12.50% PT Citra Wapphutowa 10.00% PT Sinergi Colomadu PT GSN : PT Gitanusa Sarana Niaga PT PPPJR : PT PP Proper5 Jababeka Residence PT Griyaton : PT Griyaton Indonesia PT PPP : PT Pekanbaru Permai Proper5ndo PT HKM : PT Hasta Kreasi Mandiri PT SDP : PT Sepoe5h Daya Prima PT IME : PT Inpola Meka Energi PT SPPP : PT Sentul PP Proper5 PT JPP : PT Jababeka PP Proper5 PT WSS : PT Wisma Seratus Sejahtera PT MDP : PT Muba Daya Pratama 6

Business Lines UPSTREAM MIDSTREAM DOWNSTREAM INFRA ENERGY PROPERTY CONSTRUCTION EPC PRECAST EQUIPMENT TOLL ROAD SEAPORT, AIRPORT WATER UTILITY PT PP

9% of Revenues* COMMERCIAL RESIDENTIAL HOSPITALITY PT PP PROPERTI TBK Asset: 11.4 Trillion Equity: 4.

7 Business Lines UPSTREAM MIDSTREAM DOWNSTREAM INFRA ENERGY PROPERTY CONSTRUCTION EPC PRECAST EQUIPMENT TOLL ROAD SEAPORT, AIRPORT WATER UTILITY PT PP INFRASTRUKTUR Asset: 78 billion Equity: 69 billion POWER PLANT OIL & GAS PT PP ENERGI Asset: 648 billion Equity: 217 billion 12.9% of Revenues* COMMERCIAL RESIDENTIAL HOSPITALITY PT PP PROPERTI TBK Asset: 11.4 Trillion Equity: 4.8 Trillion SEAPORT, AIRPORT DAM HIGH RISE BUILDING ROAD & BRIDGE POWER PLANT OIL & GAS MINING PTPP (List Co) Asset: 23.6 Trillion (Parent Only) Equity: 8.9 Trillion (Parent Only) 75.4% of Revenues* HIGH RISE BUILDING PRECAST INFRASTRUCTURE PRECAST PRECAST PLANT BUILDING MANAGEMENT PT PP URBAN Asset: 1,989 billion Equity: 390 billion EARTH (CIVIL) WORK FOUNDATION FORM WORK READY MIX EQUIPMENT RENT PT PP PRESISI TBK Asset: 3,624 billion Equity: 1,297 billion 11.7% of Revenues* INVESTMENT CONSTRUCTION In Rupiah (before eliminakon) as of September 30, 2017 * 9M 2017 (before eliminakon) 7

8 Part 2 Company Update Dual Fuel 200MW Power Plant Pesanggaran, Bali, Indonesia Winner Asian Power Award 2016

October 2017 New Contracts PTPP bagged 9- months 2017 new

9 Trillion, showing an increase of 36% year- on- year

4 billion in PT Metro Kapsul Bandung, a railway- based land

of West Java Province Marke5ng Sales PT PP ProperK Tbk (PPRO)

9 October 2017 New Contracts PTPP bagged 9- months 2017 new contracts of IDR31.9 Trillion, showing an increase of 36% year- on- year Investment PTPP will put about IDR6.4 billion in PT Metro Kapsul Bandung, a railway- based land transportakon company to be operakonal in Bandung, the capital of West Java Province Marke5ng Sales PT PP ProperK Tbk (PPRO) the property subsidiary of PTPP, reported markekng sales of about IDR 2.2 Trillion in 9M 2017 while targekng FY 2017 markekng sales of about IDR 2.9 Trillion 9

10 Use of Right Issue Proceeds PTPP stake in JV 25.0% 15.0% 12.5% 15.0% 15.0% 15.0% Use of proceeds from Government Capital Injec5on or PMN Projects Loca5on PMN Realiza5on Balance 1. MulKpurpose Terminal Kuala Tanjung Port North Sumatra IDR 166 Bn IDR 166 Bn - 2. Toll Road Medan - Kualanamu - Tebing Tinggi North Sumatra IDR 174 Bn IDR 114 Bn IDR 60 Bn 3. Toll Road Depok - Antasari DKI Jakarta IDR 62 Bn IDR 60 Bn IDR 2 Bn 4. Toll Road Balikpapan - Samarinda East Kalimantan IDR 449 Bn IDR 20.1 Bn IDR Bn 5. Toll Road Pandaan - Malang East Java IDR 627 Bn IDR Bn IDR Bn 6. Toll Road Manado - Bitung North Sulawesi IDR 231 Bn IDR 28.2 Bn IDR Bn 7. Middle Class Apartment (MBR Rusunami) Greater Jakarta IDR 541 Bn - IDR 541 Bn TOTAL INVESTMENT IDR 2.25 T IDR Bn IDR 1,617.1 Bn 100% 28.1% 71.9% 10

11 Part 3 Financial Highlights Ministry of Public Works and Housing Building, Indonesia s 1 st cer=fied pla=num- grade green building Winner Green Building Award 2016

9- Months Financial Result Highlights 1) Revenues +27% YoY, Opera5ng Profit approx. IDR 1.6 Trillion, +33% YoY v Higher Revenues growth; Revenues nominal IDR 13.

12 9- Months Financial Result Highlights 1) Revenues +27% YoY, Opera5ng Profit approx. IDR 1.6 Trillion, +33% YoY v Higher Revenues growth; Revenues nominal IDR 13.8 Trillion v Revenues breakdown: ConstrucKon (63%), EPC (19%), Property (12%) v OperaKng Profit Margin +50 bps YoY; Opex to Revenues 3.2% 2) Net Profit Aiributable to Owners of Parent En5ty, +75% YoY v Strong OperaKng Income, higher Profit from JV, Other Incomes, posikve Income from Associates overshadowed higher Interest Expense, Impairment v Net Profit nominal IDR 990 billion; Net Profit Margin +200 bps YoY 3) Solid Capital Structure, Manageable Debt and Net Debt to LTM EBITDA v Total Equity nominal IDR12.5 Trillion, Total Interest- Bearing Debts nominal IDR 8.2 Trillion, Net Debt nominal IDR 1.8 Trillion v Debt to LTM- EBITDA 3.1x and Net Debt to LTM- EBITDA 0.7x Revenues OperaKng Profit 13,762 10,846 1,167 1,552 9M M 2017 NPATMI Net Margin % 5.2% 9M M 2017 Interest- bearing Debt Equity 10,796 12,493 6,790 8,233 Dec 31, 2016 Sep 30, ) Cash Flow Receipt from Customers/Revenues, LTM Opera5ng Cash Flow v Cash Flow Receipt from Customers nominal IDR 11.8 Trillion, 86% of Revenues v PosiKve LTM OperaKng Cash Flow 987 Op Cash Flow 2,071 EBITDA 1,225 2,630 FY 2016 LTM 2017 Note: LTM = Last Twelve Months 12

13 Profit & Loss Highlight, September 30, 2017 (in IDR billion) 9M M 2016 YoY Δ Opera5ng Revenues 13,762 10,846 27% 2,916 Cost of Goods Sold (11,767) (9,331) 26% (2,436) Gross Profit 1,994 1,515 32% 480 Total OperaKng Expenses (442) (348) 27% (94) Opera5ng Income 1,552 1,167 33% 385 Other Income % 133 Other Expenses (34) (29) 15% (4) Impairment (66) (39) 70% (27) Interest Expenses (238) (193) 23% (45) Profit from JV % 92 Income from Associated Company 6 (3) N/M 8 Total Other Income (Expenses) 22 (135) N/M 157 Pre- tax Profit 1,574 1,032 53% 542 Total Income (Expenses) Tax (456) (373) 22% (82) Net Profit Aper Tax 1, % 460 EBITDA 1,790 1,232 45% 559 Minority Interest % 37 Net Profit Amer Tax & Minority Interest (NPATMI) % 423 EPS, fully diluted, IDR (*) % 43 (*) Number of issued shares pre- right offering: 4,843,087,000 Number of issued shares post- right offering: 6,199,897,354 (ex- right December 2, 2016) 13

14 Financial Posi5ons, September 30, 2017 (in IDR billion) Sep 30, 2017 Dec 31, 2016 Assets Cash and cash equivalents 6,138 9,125 (2,987) - 33% Short- term Investment (35) - 12% Trade Receivables, net 6,465 4,776 1,689 35% Gross Receivables from Project Owner, net 7,257 4,906 2,351 48% Inventories 2,830 2, % Other Current Assets 3,102 2, % Current Assets 26,057 24,344 1,713 7% Fixed Assets, net 5,686 4,178 1,508 36% Other Non Current Assets 3,610 2, % Non Current Assets 9,296 6,889 2,407 35% Total Assets 35,353 31,233 4,120 13% Liabili5es and Equi5es Short- term Interest- bearing Debts 3,806 3, % Trade Payables, net 10,711 10, % Other Current LiabiliKes 2,334 1, % Current Liabili5es 16,851 15, % Long- term Interest- bearing Debts 4,428 3,083 1,345 44% Other Non Current LiabiliKes 1,581 1, % Non Current Liabili5es 6,008 4,558 1,450 32% Total Liabili5es 22,860 20,437 2,423 12% Shareholders Equity 12,493 10,796 1,697 16% Δ YTD 14

15 Selected Key Ra5os, September 30, M M Profitability Gross Profit Margin 14.5% 14.0% OperaKng Profit Margin 11.3% 10.8% EBITDA Margin 13.0% 11.4% Net Profit Margin* 7.2% 5.2% (in IDR billion, unless otherwise stated) Sep 30, 2017 Dec 31, Leverage Short- term Interest- bearing Debt 3,806 3,707 Long- term Interest- bearing Debt 4,428 3,083 Total Interest- bearing Debt 8,233 6,790 Cash and cash equivalents + Short- term Investment 6,402 9,424 Net Debt (Cash) 1,831 (2,634) Equity, including Non- controlling Interests 12,493 10,796 EBITDA** 2,630 2,071 Gearing rako (x) Net Gearing rako (x) Debt to EBITDA (x) Net Debt to EBITDA (x) M M 2016 EBITDA to Interest Expense (x) (*) arributable for the owners of parent enkty (**) last twelve months (LTM) / trailing 12- months EBITDA for September 30,

Financial Strength: (1) Balance Sheet Capacity September 30, 2017 Consolidated Gearing RaKo September 30, 2017 Consolidated Net Gearing RaKo (in billion Rupiah) 0.66x 12,493 (in billion Rupiah) 0.

16 Financial Strength: (1) Balance Sheet Capacity September 30, 2017 Consolidated Gearing RaKo September 30, 2017 Consolidated Net Gearing RaKo (in billion Rupiah) 0.66x 12,493 (in billion Rupiah) 0.15x 12,493 Note: (*) included Short- Term Investments 8,233 8,233 6,402 1,831 Interest- bearing Debt Equity Interest- bearing Debt Cash & Near Cash* Net Debt Equity September 30, 2017 Parent Only - Gearing RaKo September 30, 2017 Parent Only - Net Gearing RaKo (in billion Rupiah) (in billion Rupiah) 8, x x 8,930 Note: (*) included Short- Term Investments 3,397 3,397 4,929 1,532 Interest- bearing Debt Equity Interest- bearing Debt Cash & Near Cash* Net Cash Equity 16

17 Financial Strength: (2) Debt, Net Debt, EBITDA September 30, 2017 Debt to LTM EBITDA September 30, 2017 Net Debt to LTM EBITDA (in billion Rupiah) (in billion Rupiah) 8, x 0.70x 2,630 1,831 2,630 Interest- bearing Debt LTM EBITDA Net Debt LTM EBITDA LTM = Last Twelve Months 17

Financial Strength: (3) Opera5ng Cash Flow Quarter by Quarter

Flow (in billion Rupiah) 2,746 (in billion Rupiah) 1,225 1,920 305

2016 1Q 2017 2Q 2017 3Q 2017 (511) (956) (1,244) (1,169) (1,068)

18 Financial Strength: (3) Opera5ng Cash Flow Quarter by Quarter OperaKng Cash Flow September 30, 2017 LTM PosiKve OperaKng Cash Flow (in billion Rupiah) 2,746 (in billion Rupiah) 1,225 1, Q Q Q Q Q Q Q Q Q Q Q 2017 (511) (956) (1,244) (1,169) (1,068) 161 (1,662) LTM Sep 30, 2016 LTM Sep 30, 2017 LTM = Last Twelve Months 18

19 Financial Strength: (4) Cash Flow September 30, 2017 Year- to- Date Movement of Cash Flow September 30, 2017 Cash receipt from customers- to- Revenues (in billion Rupiah) 86% (in billion Rupiah) 13,762 9,159 11,783 (1,521) ,138 (2,456) Cash and Near Cash, Beginning Balance OperaKng Cash Flow InvesKng Cash Flow Financing Cash Flow Effect of Exchange Rate Cash and Near Cash, Ending Balance Cash Flow Receipt from Customers Revenues 19

Bearing Debts (in billion Rupiah) Bonds 19%

20 Debt: Maturity Profile and Breakdown September 30, 2017 Maturity Profile of Outstanding Interest- bearing Debts September 30, 2017 Breakdown of Interest- Bearing Debts (in billion Rupiah) Bonds 19% 4,428 3,806 54% Bank Loans 62% Total Outstanding Debt: IDR 8.2 trillion MTN 11% 46% Leasing Payables 5% Non- Bank Loans 3% Below 1 Year Over 1 Year 20

21 Cikampek - Palimanan Toll Road (116 km), West Java, Indonesia Indonesia s longest toll road, opened in 2015, part of the Trans Java highways Part 4 Opera5onal Highlights

22 New Contract by Project Owner (9M 2017) 62.4% 49.2% SOE Government Private Actual 9M 2017: IDR 31.9 Trillion Target FY 2017: IDR 40.6 Trillion 27.2% 10.4% 20.6% 30.2% 22

23 New Contract by Project (9M 2017) Buildings 16.8% 26.0% 23.0% 30.6% Road and Bridges Energy IrrigaKon 23.0% Actual 9M 2017: IDR 31.9 Trillion 2.4% Target FY 2017: IDR 40.6 Trillion Ports 10.1% Others 1.9% 12.6% 19.8% 20.8% 13.1% 23

24 New Contract by Business Lines (9M 2017) 2.7% ConstrucKon EPC Precast Property 6.9% 1.7% 6.7% Actual 9M 2017: IDR 31.9 Trillion 61.6% 2.2% 7.6% 10.6% Target FY 2017: IDR 40.6 Trillion 56.2% ConstrucKon Equipment Infrastructure & Energy 3.4% 20.8% 19.8% 24

Order Book (in Trillion Rupiah) New Contracts JO 7.

3 Carry Over 61.7-66.7 Carry Over 39.6 Revenues 16.

25 Order Book (in Trillion Rupiah) New Contracts JO 7.3 Order Book (ex JO) 64.9 New Contracts Regular 25.3 Carry Over 48.4 New Contracts JO 2.4 Order Book (ex JO) 86.7 New Contracts Regular 38.3 Carry Over Carry Over 39.6 Revenues 16.4 Carry Over 48.4 Revenues JO: Joint OperaKon 25

26 Installa=on of precast jexy at Kuala Tanjung Port, North Sumatra Kuala Tanjung is des=ned to be a Hub Port, part of Indonesia s strategic projects Part 5 Projects & Investments

27 Project Progress up to end of September 2017 Projects Land Acquisi5on Progress Construc5on Progress 1. Kuala Tanjung Port * 75.00% 86.09% 2. Medan Kuala Namu Tebing Tinggi Toll Road ** 100% 98.63% 3. Depok Antasari Toll Road 92.97% 57.57% 4. Pandaan Malang Toll Road 80.69% 29.31% 5. Manado Bitung Toll Road 65.47% 23.02% 6. Cisumdawu Toll Road *** 37.00% 0.00% 7. Serang Panimbang Toll Road **** 40.00% 0.00% Notes: * Change in contract value from IDR897.7 billion to IDR1.21 trillion ** SecKon VII started on September 2007 (land acquisikon: 61.37%, construckon: 0%) *** ConstrucKon will start on October 2017 **** ConstrucKon will start on November

28 Investments in Associates & Other Long- Term Investments A. Investment in associated en55es No Company Share Rp Bn Remarks 1 PT Prima MulK Terminal 25.0% Hub Port Kuala Tanjung, North Sumatra Infrastructure 2 PT Jasamarga Pandaan Malang 35.0% Toll Road Pandaan- Malang, East Java Infrastructure 3 PT Sinergi Investasi ProperK 20.0% 91.7 JV with BPJS Ketenagakerjaan for worker housing projects Housing 4 PT Sentul PP ProperK 49.0% 50.1 Property and Realty, Sentul, West Java, 10k Ha Property 5 PT Pekanbaru Permai ProperKndo 40.0% 46.4 Condotel Pekanbaru Park, Pekanbaru, Riau Property 6 PT Aryan PP ProperK 49.0% 45.1 Children Edutainment Centre, Surabaya, East Java, 4,500m2 Property 7 PT Jababeka PP ProperK 49.0% 38.5 Property and Realty, Cibitung, West Java, 25.8k Ha Property 8 PT Inpola Meka Energi 38.3% 34.3 Mini Hydro 10MW Lau Gunung, North Sumatra Energy 9 PT Solo Citra Metro Plasma Power 40.0% 25.0 Waste to Energy 10MW Surakarta, Central Java Energy Total B. Other long- term investments No Company Share Rp Bn Remarks 1 PT Jasa Marga Kualanamu 15.0% Toll Road Medan- Kuala Namu- Tebing Tinggi, North Sumatra Infrastructure 2 PT Wijaya Karya Serang Panimbang 15.0% 52.9 Toll Road Serang- Panimbang, Banten Infrastructure 3 PT Citra Waspphutowa 12.5% 60.0 Toll Road Depok- Antasari, Greater Jakarta Infrastructure 4 PT Jasamarga Balikpapan- Samarinda 15.0% 20.1 Toll Road Balikpapan- Samarinda, East Kalimantan Infrastructure 5 PT Citra Karya Jabar Tol 14.0% 14.0 Toll Road Cileunyi- Sumedang- Dawuan, West Java Infrastructure 6 PT Jasamarga Manado- Bitung 15.0% 28.2 Toll Road Manado- Bitung, North Sulawesi Infrastructure 7 PT Teknik Rekayasa Kereta Kapsul 15.0% 7.5 Metro Kapsul LRT Infrastructure 8 PT Sinergi Colomadu 10.0% 14.8 Tourism DesKnaKon, JV with other 7 SOEs Hospitality 8 PT Pancakarya Grahatama 15.0% 3.8 Business Area, Commercial, and Hotel Project, Bogor Property 9 PT Mitra Cipta Polasarana 4.7% 1.6 Office Space Rental, Menteng, Jakarta Property Total

29 Medan- Kuala Namu- Tebing Tinggi (MKTT) Toll Road Project, North Sumatra PTPP owns 15% stake in the MKTT toll road operator, PT Jasa Marga Kualanamu Part 6 Appendices

Credit Ra5ng PTPP credit ra5ng 2012-2016 A- A A A A+ Credit rakng agency Pefindo rated PTPP A+ for Corporate as well as outstanding Bonds and MTN with stable outlook, applied up to November 1, 2017.

30 Credit Ra5ng PTPP credit ra5ng A- A A A A+ Credit rakng agency Pefindo rated PTPP A+ for Corporate as well as outstanding Bonds and MTN with stable outlook, applied up to November 1, Dec 2012 Dec 2013 Dec 2014 Dec 2015 Nov 2016 Source: Pefindo Bonds issuance by PTPP (excluding subsidiary) Currency Size Maturity Due Coupon Rupiah 700 Billion Rupiah 300 Billion 5 years March 19, % 5 years February 24, % Excluding subsidiary, total outstanding Rupiah- denominated bonds reached IDR 1.0 Trillion 30

31 NOTES 31

32 Contact us at: Investor Relations PT PP (Persero) Tbk Plaza PP Wisma Subiyanto Jl. Letjend. TB. Simatupang No 57 Pasar Rebo, Jakarta Indonesia Telp ; Fax website :

TO BE A SUSTAINABLE ASEAN-CLASS COMPANY. Company Update. April 2017

TO BE A SUSTAINABLE ASEAN-CLASS COMPANY Company Update April 2017 Table of Contents 1. Company Overview 3 2. Company Update 9 3. Financial Highlights 13 4. Opera?onal Highlights 18 IMPORTANT: The following