Top Global Limited. Reach for the skies. Shareholder Presentation for Extraordinary General Meeting. 14 October 2014

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1 Top Global Limited Shareholder Presentation for Extraordinary General Meeting 14 October 2014

2 Table of Contents Deal Outline Indonesia Overview About PT Suryamas Dutamakmur Tbk Suryamas Projects Financials Rationale Questions & Answers 2

3 Deal Outline Target: Buyer: Sellers: PT Suryamas Dutamakmur Tbk ( Suryamas ) Top Global Limited ( TGL ) Asia Capital Holding Limited PT Surya Pembangunan Utama PT Niaganusa Indomakmur Alera Financial Corp (Controlled by Mdm Sukmawati Widjaja and family) Consideration: Payment Mode: Approx. S$153 million for 71.52% (3,412,821,351 ordinary shares) of Suryamas Allotment and issuance of 19,000,000,000 TGL ordinary shares Shareholdings: Madam Sukmawati and Mr Hano Maeloa as of 8 th October 2014 Before acquisition (%) After acquisition (%)

4 Explanation of Supplemental Agreements No change to purchase consideration Acquiring a controlling stake Zero cash outlay Supplemental Agreements Share price a better indicator as exchange medium Expedite completion to focus on expansion Purchase consideration <1 st valuation & <2 nd valuation which is even higher (due to increase in land bank) Opinion by IFA that deal is fair 4

5 [Insert Jakarta Cityline] Photo by The Diary of a Hotel Addict, available under Creative Commons Licence

Indonesia Overview Emerging economic power: Total population 249.9 million (2013) 4th most populous nation in the world with over 50% under 29 years Annual GDP Growth 5.8% (2013) GDP US$868.

6 Indonesia Overview Emerging economic power: Total population million (2013) 4th most populous nation in the world with over 50% under 29 years Annual GDP Growth 5.8% (2013) GDP US$868.3 billion (2013) Fast growing economy: Ratings agencies forecast Indonesia will be 7 th largest economy in the world by 2030 and 4th by 2050 Political stability: One of Asia Pacific s most vibrant democracies that has maintained political stability (The World Bank, 2013) Source: The World Bank 6

7 Indonesia Property Outlook Source: CNN, Bloomberg 7

8 Risk Factors Risks Consumer preferences & consumer spending trends Political, social & economic instability Indonesia property performance Foreign currency exposure Fluctuations in prices of raw materials Other risks* *Please ref er to Circular Section 5, Pg 35 - RISK FACTORS 8

9 About PT Suryamas Dutamakmur Tbk 1989 Startup WITHSTOOD ASIAN ECONOMIC CRISIS Rancamaya Estate launched Royal Tajur launched Rancamaya Golf & Country Club Resort launched IPO on Indonesia Stock Exchange (Code: SMDM) 2008 Highscope Rancamaya (Preschoolers) launched Harvest City launched Mahogany Residence launched R Hotel Rancamaya soft opening Highscope Rancamaya (Elementary) launched Current Assets IDR 1,103.8 billion 9

Rancamaya Golf & Country Club R Hotel Rancamaya Highscope Harvest City

10 Suryamas - Business Segmentation PT Suryamas Dutamakmur Tbk City & Township Residential Golf Course Hospitality Education Rancam aya Estate Royal Tajur Rancamaya Golf & Country Club R Hotel Rancamaya Highscope Harvest City Mahogany Residence Rancam aya Golf & Country Club Villa, Restaurant, Country Club 10

12 Township - Rancamaya 778 Ha 12

13 Rancamaya Golf & Country Club World-class championship 18-hole golf course Designed by Ted Robinson Awards & Accolades: 13

14 Rancamaya Villas 14

15 R Hotel Rancamaya Four star hotel - accomodates up to 800 guests Located within the Rancamaya Golf & Country Club Soft opening on 25 July

16 R Hotel Rancamaya 140 rooms 16

17 R Hotel Rancamaya Restaurants & 10 meeting rooms with MICE facilities 17

18 Rancamaya Estate Luxury Housing Mid-Range Housing Cluster Housing Prime residential estate Total licensed land area of 778 hectares 37.2% developed as at 31 Mar

20 Township - Harvest City 1,050 Ha 20

21 Township - Harvest City Suburban development in Cileungsi area with target market of small to medium housing clusters Total licensed land area of 1,050 hectares 10.0% developed as at 31 Mar 2014 Mid-Range Housing Low Cost Housing Water Park 21

22 Royal Tajur 75 Ha 22

23 Real Estate Business - Royal Tajur Licensed Land Area To Be Expanded To 75 Hectares Prime development within the city of Bogor Medium to high-end landed housing Total licensed land area of 55.7 hectares - to be expanded to 75 hectares 23

24 Royal Tajur Mid-Range Housing 24

25 Financials

26 Valuation of Suryamas Purchase Consideration VS Market, Book & Fair Value S$ million * Market Value (As at 9 June 2014) Book & NTA Value (As at 31 March 2014) Purchase Consideration Fair Value (Market & Fair Value (Income Income Approach)** Approach)*** (As at 31 March 2014) (As at 31 March 2014) * TGL will own an approximate % interest in Suryamaswith an acquisition price of approximately S$153 million. S$213.9million isan illustrative figure to show the consideration if it isacquiring 100% interest in Suryamas. ** Valuation done by Singapore valuer *** Valuation done by Indonesian valuer 26

27 Rationale

28 Rationale for Acquisition Good Synergies 28

29 Questions & Answers

PT SURYAMAS DUTAMAKMUR TBK

PT SURYAMAS DUTAMAKMUR TBK PUBLIC EXPOSE Friday, 12 December 2014 R Hotel Rancamaya, Bogor TABLE OF CONTENTS I. Company Overview II. Property Industry Updates III. Financial Performance IV. Strategic Initiatives