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

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

2 Table of Contents 1. Company Overview 3 2. Company Update 9 3. Financial Highlights Opera?onal Highlights 18 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

Sec@on 1 Company Overview Kalibaru Port, Indonesia s biggest container

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

4 About PTPP PTPP in brief 64 years Established in 1953, over 6 decades of experience 7 pillars Consisted of Infrastructure, Energy, Property, Construc?on, EPC, Precast and Construc?on Equipment 2010 Went public on February 9, trillion Rupiah Corporate Value Market capitaliza?on as of March 31, % Free float (public ownership) in the market 23% Foreign investor ownership as of March 31, 2017 VISION To be a leading and sustainable construc?on and investment company in South East Asia MISSION Providing Construc?on and EPC services as well as Good Corporate Governance- based Investment, QSHE Management, Risk Management, and Green Concept that priori?ze on customer sa?sfac?on and sustainability Developing Business Synergy Strategy to create high compe??veness and op?mal value add for the Stakeholders Crea?ng Excellent Human Resources with Recruitment, Development and Assessment based on Corporate Culture Op?mizing Knowledge Management to achieve Sustainable Excellent Performance Developing Corporate Strategy through Financial strengthening to increase Equity 4

5 Company Milestones Diversifica?on to Construc?on Equipment 2016 Market cap: IDR 23.6 trillion (2016 Year- End) Transformed to become PT Pembangunan Perumahan (Persero) 1953 EMBO Government of Republic Indonesia 51% KKSPP 49% 1971 Established as NV PP Diversifica?on to Property and Realty Diversifica?on to EPC and Investment Market cap: IDR 2.7 trillion (IPO) Diversifica?on to Precast 2015 IPO: February 9 Listed on the Indonesia Stock Exchange Offering about 1.0 billion Completed Right Issue 4.4 trillion Diversifica?on to Energy and Infrastructure IPO: May 19 Subsidiary PT PP Proper? Tbk was listed on the Indonesia Stock Exchange 5

6 Corporate and Shareholding Structure Government of Republic of Indonesia Employee CooperaWve Of PTPP Shareholders Public 51.00% 3.16% 45.84% 64.96% 99.98% 99.99% 99.00% 99.00% PT PP ProperW Tbk PT PP Peralatan Konstruksi PT PP Pracetak PT PP Energi PT PP Infrastruktur Associates (less than 50%) PT HKM 99.00% PT GSN 99.90% PT WSS 55.00% PT PPPJR 52.60% PT Griyaton 96.57% Associates (less than 50%) PT SPPP 49.00% PT PPP 40.00% PT JPP 49.00% Associates (less than 50%) PT MDP 99.00% PT SDP 75.00% Associates (less than 50%) PT GSN : PT Gitanusa Sarana Niaga PT PPPJR : PT PP Proper? Jababeka Residence PT Griyaton : PT Griyaton Indonesia PT PPP : PT Pekanbaru Permai Proper?ndo PT HKM : PT Hasta Kreasi Mandiri PT SDP : PT Sepoe?h Daya Prima PT JPP : PT Jababeka PP Proper? PT SPPP : PT Sentul PP Proper? PT MDP : PT Muba Daya Pratama PT WSS : PT Wisma Seratus Sejahtera 6

7 Key Business Pillars UPSTREAM MIDSTREAM DOWNSTREAM INFRA ENERGY PROPERTY CONSTRUCTION EPC PRECAST EQUIPMENT TOLL ROAD PORT AIRPORT PT PP INFRASTRUKTUR POWER PLANT GAS PT PP ENERGI COMMERCIAL RESIDENTIAL HOSPITALITY PT PP PROPERTI TBK SEA PORTS, AIPORTS POWER PLANT DAM OIL & GAS HIGH RISE BUILDINGS MINING ROAD & BRIDGES PTPP (List Co) HIGH RISE BUILDING PRECAST INFRASTRUCTURE PRECAST PRECAST PLANT BUILDING MANAGEMENT EARTH MOVING CONTRACTOR FOUNDATION CONTRACTOR ERECTION CONTRACTOR ASPHALT & CONCRETE MIXING PLANT PT PP URBAN PT PP PRESISI 7

Corporate AcWons 2017-2018 An ASEAN Class Company IPO PT PP Urban IPO PT PP Energi IPO PT PP Infrastruktur 2021 IPO PT PP Presisi 2018 1:4 Stock Split & Right Issue PPRO IDR 1.

8 Corporate AcWons An ASEAN Class Company IPO PT PP Urban IPO PT PP Energi IPO PT PP Infrastruktur 2021 IPO PT PP Presisi :4 Stock Split & Right Issue PPRO IDR 1.5 trillion 4Q 2017 Right Issue PTPP IDR 4.4 trillion Q Q Q 2017 PTPP right issue PMN (GOI). IDR 2.25T Public... IDR 2.16T New shares billion Proceeds. IDR 4.4T Use of Proceeds % for capex financing 24% for working capital PPRO right issue PTPP. IDR 1,000 billion Public IDR 539 billion New shares billion Proceeds. IDR 1.5T Use of Proceeds % for land bank & projects 20% for working capital 10% for refinancing 8

9 2 Company Update Dual Fuel 200MW Power Plant Pesanggaran, Bali, Indonesia Winner Asian Power Award

New Contracts 10 New contracts 2006-2016 In trillion Rupiah 32.6 27.1 19.5 19.6 20.2 12.4 8.6 5.2 6.1 6.1 3.

6 trillion, or about 5.1% above targeted FY2016 new contracts at IDR31.0 trillion. The FY2016 new contract showed an increase of about 20.

6* (*) Including JO contract 7.3 trillion Rupiah In trillion Rupiah PTPP is targe?ng total new contracts of about IDR40.

10 New Contracts 10 New contracts In trillion Rupiah years CAGR of 25% PTPP bagged total FY2016 new contracts of IDR32.6 trillion, or about 5.1% above targeted FY2016 new contracts at IDR31.0 trillion. The FY2016 new contract showed an increase of about 20.4% year- on- year compared to new contract of about IDR27.1 trillion. FY 2016 Order Book and Revenues New Contracts 32.6* (*) Including JO contract 7.3 trillion Rupiah In trillion Rupiah PTPP is targe?ng total new contracts of about IDR40.6 trillion, or about 24.5% increase from FY2016 s achievement. Carry Over 39.1 Revenues Total new contracts reached IDR6.67 trillion in 1Q 2017, increased by about 38% year- on- year (1Q 2016: IDR 4.83 trillion) 10

Credit RaWng Upgrade 11 PTPP credit rawng 2012-2016 A- A A A A+ Credit ra?ng agency Pefindo upgraded PTPP s rawng and its outstanding Bonds and Medium- Term Notes (MTN) from A to A+ on November 2016.

11 Credit RaWng Upgrade 11 PTPP credit rawng A- A A A A+ Credit ra?ng agency Pefindo upgraded PTPP s rawng and its outstanding Bonds and Medium- Term Notes (MTN) from A to A+ on November 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, % According to Pefindo, the outlook for PTPP s corporate ra?ng is Stable. The ra?ng applied since November 15, 2016 up to November 1, Since March 2013, excluding subsidiary, PTPP has issued two (2) Rupiah- denominated bonds in total amounted IDR1.0 trillion. 11

12 PTPP Right Issue Completed 12 Use of proceeds from Government Capital InjecWon or PMN Projects LocaWon Investment PMN 1. Mul?purpose Terminal Kuala Tanjung Port 2. Toll Road Medan - Kualanamu - Tebing Tinggi North Sumatra IDR 3,177 Bn IDR 166 Bn North Sumatra IDR 4,072 Bn IDR 174 Bn 3. Toll Road Depok - Antasari DKI Jakarta IDR 3,472 Bn IDR 62 Bn 4. Toll Road Balikpapan - Samarinda East Kalimantan IDR 9,973 Bn IDR 449 Bn 5. Toll Road Pandaan - Malang East Java IDR 5,970 Bn IDR 627 Bn 6. Toll Road Manado - Bitung North Sulawesi IDR 5,123 Bn IDR 231 Bn 7. Middle Class Apartment (MBR Rusunami) Greater Jakarta IDR 3,277 Bn IDR 541 Bn TOTAL INVESTMENT IDR T IDR 2.25 T Use of proceeds from Public Shareholders Projects LocaWon Investment Public 8. Industrial Zone Kuala Tanjung North Sumatra IDR 8,000 Bn IDR 1,260 Bn PTPP issued 1,357,460,854 billion of new serial B shares or about 21.89% of the Company s issued and fully paid shares post right offering. With the new share priced at IDR3,250/share, PTPP earned in total about IDR4.4 trillion from the new shares issuance. The Government of Indonesia contributed as much as IDR2.25 trillion (51%) via PMN, while the remaining IDR2.16 trillion was contributed by public shareholders (49%). 9. MBR Housing All Over Indonesia IDR 2,805 Bn IDR 463 Bn 10. PLTU Meulaboh 2 x 200 MW Aceh IDR 7,330 Bn IDR 439 Bn TOTAL INVESTMENT IDR T IDR 2.16 T Note: MBR = low cost housing 12

Sec@on 3 Financial Highlights Ministry of Public Works and Housing Building,

13 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

14 1Q Result Summary 2017 (Un- Audited) NEW CONTRACTS +38.2% REVENUES +12.7% NET INCOME* +32.6% 1Q 2016 IDR 4.83 Trillion 1Q 2017 IDR 6.67 Trillion 1Q 2016 IDR 2.59 Trillion 1Q 2017 IDR 2.92 Trillion 1Q 2016 IDR 98 Billion 1Q 2017 IDR 130 Billion , (*) atributable to the owners of parent en?ty 14

15 1Q 2017 Profit Loss Summary (in IDR billion) 1Q Q 2016 Δ YoY Opera?ng Revenues 2,917 2, % Cost of Goods Sold (2,526) (2,228) (298) 13% Gross Profit % Total Opera?ng Expenses (155) (105) (51) 48% Opera?ng Income (19) - 8% Other Income % Other Expenses (14) (11) (3) 30% Impairment (8) (3) (5) 133% Interest Expenses (50) (36) (14) 39% Profit from JV % Income from Associated Company 1 (3) 4-132% Total Other Income (Expenses) 27 (35) % Pre- tax Profit % Total Income (Expenses) Tax (102) (90) (11) 13% Net Profit Auer Tax % EBITDA % Minority Interest (0) - 1% Net Profit Auer Tax & Minority Interest (NPATMI) % EPS, fully diluted, IDR (*) % (*) 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) 15

16 Balance Sheet Summary as of Mar 31, 2017 (in IDR billion) Mar 31, 2017 Dec 31, 2016 Assets Cash and cash equivalents 6,595 9,125 (2,530) - 28% Short- term Investment (99) - 33% Trade Receivables, net 5,065 4, % Gross Receivables from Project Owner, net 5,496 4, % Inventories 2,668 2, % Other Current Assets 2,884 2, % Current Assets 22,909 24,344 (1,435) - 6% Fixed Assets, net 4,316 4, % Other Non Current Assets 2,955 2, % Non Current Assets 7,271 6, % Total Assets 30,180 31,233 (1,053) - 3% Δ YoY LiabiliWes and EquiWes Short- term Interest- bearing Debts 3,491 3,707 (216) - 6% Trade Payables, net 8,490 10,237 (1,747) - 17% Other Current Liabili?es 2,665 1, % Current Liabili?es 14,646 15,879 (1,232) - 8% Long- term Interest- bearing Debts 3,173 3, % Other Non Current Liabili?es 1,740 1, % Non Current Liabili?es 4,913 4, % Total Liabili?es 19,559 20,437 (878) - 4% Shareholders Equity 10,621 10,796 (175) - 2% 16

17 1Q 2017 Selected Key RaWos (in IDR billion, unless otherwise stated) 1. Profitability Mar 31, 2017 Dec 31, 2016 Gross Profit Margin 13.4% 13.9% Opera?ng Profit Margin 8.1% 9.9% EBITDA Margin 5.5% 5.0% Net Profit Margin 10.7% 10.6% 2. Leverage Short- term Interest- bearing Debt 3,491 3,707 Long- term Interest- bearing Debt 3,173 3,083 Total Interest- bearing Debt 6,664 6,790 Cash and cash equivalents + Short- term Investment 6,795 9,424 Net Debt (131) (2,634) Equity, including Non- controlling Interests 10,621 10,796 EBITDA, trailing 12- months for Mar 31, ,108 2,071 Gearing ra?o (x) Net Gearing ra?o (x) Debt to EBITDA (x) Net Debt to EBITDA (x) EBITDA to Interest Expense (x)

Sec@on 4 OperaWonal Highlight Cikampek - Palimanan Toll Road (116 km), West Java,

18 4 OperaWonal Highlight Cikampek - Palimanan Toll Road (116 km), West Java, Indonesia Indonesia s longest toll road, opened in 2015, part of the Trans Java highways 18

19 New Contract By Project s Owner 60.1% 49.2% SOE Government Private 1Q 2017A: IDR 6.67 Trillion Planned FY 2017: IDR 40.6 Trillion 25.2% 14.7% 20.6% 30.2% 19

20 New Contract By Project 15.1% Buildings 31.8% 23.0% 30.6% Road and Bridges Energy Irriga?on 1Q 2017A: IDR 6.67 Trillion 2.4% Planned FY 2017: IDR 40.6 Trillion Ports Others 25.5% 10.1% 7.2% 20.4% 20.8% 13.1% 20

21 New Contract By Business Line 3.8% 8.8% 2.7% Construc?on EPC Precast Property 25.5% 1Q 2017A: IDR 6.67 Trillion 61.9% 2.2% 7.6% 10.6% Planned FY 2017: IDR 40.6 Trillion 56.2% Construc?on Equipment Infrastructure & Energy 20.8% 21

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

3 See page 19-21 for breakdown Carry Over 48.

22 Order Book (in Trillion Rupiah) New Contracts JO 7.3 Order Book (ex JO) 64.9 New Contracts Regular 25.3 See page for breakdown Carry Over 48.4 New Contracts JO 2.4 Order Book (ex JO) 86.7 New Contracts Regular 38.3 See page for breakdown Carry Over 61.7 Carry Over 39.6 Revenues 16.4 Carry Over 48.4 Revenues JO: Joint Opera?on 22

23 THANK YOU Contact us at: Plaza PP Wisma Subiyanto Jl. Letjend. TB. Simatupang No 57 Pasar Rebo, Jakarta Indonesia Phone Fax website : pp.com

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

TO BE A SUSTAINABLE ASEAN-CLASS COMPANY Company Update January 2017 Table of Contents 1. Company Overview 3 2. Company Update 9 3. Financial Highlights 12 4. Opera?onal Highlights 19 IMPORTANT: The following